Omaha daily bee. (Omaha [Neb.]) 187?-1922, September 23, 1906, EDITORIAL SECTION, Page 4, Image 16
I. j i OVERLAND f ROM SEATO EJ; Etrrimtn'i Control af the Btlt'mort & Ohio Ballroad EeaaserUd. A MQDlRI COLOSSUS CF ROAD Wlaard at the lalaa Parlfle Fore tailing GaalaVa t'ontlaentnl Maes saecalatlre Talk la RalU road Circles. The qualified denial of the report that E. H. Harrlman had Obtained control of the Baltlmori 4k Ohio railroad la aot taken airl ously by New Terk papers. Tha Bun and the Tribune annert that the Harrlman In terests have secured the property and that the wizard of the Union Pacific. Is already directing the policies of the BaJt'mnre A Ohio. Here Is what the Bun eavs: The r.vn that & R H r Iman and financiers allied with htm had acquired c.n trol of the Baltimore A Ohio, and conse quently a large Interest In Reading, re ceived substantial confirmation Monday. Bankers with pnrtlcularly good sources of Information regarding; the properties de clared there could be no doubt of the trans fer of control. ' "Both Mr. Harrlman and James BtlMman, president of the Katlonal City bahk and one of Mr. Harrtman'a associates on the Union Paclflo board and In railroad and atoek op erations generally, have been directors of Baltimore A Ohio for some time and hare represented a considerable stock holding. This holding. It Is believed, was largely augmented last spring, when the company put out a new stock Issue of in.ttoOOO, the Harrlman party exercising their own rights to subscribe to the nw issue and also pur. chasing rights on a targe scale in the open market. It would have required very few additional purchases, It Is believed, to com bine with these holdings and the stork aold'by the Pennsylvania-to constitute a dominant Interest. "On the first of January last the Pennayl "rs.nl In Its own name owned more than 51,000,000 of Baltimore A Ohio stock, and In the name of subsidiary companies bad nearly 20.000,000 more. With the Issue of the new stock the Pennsylvania had a right to subscribe to a large block, but It In not believed that the right was exercised, since the company at that time was borrowing money extensively. Of Its own $51,000,000 the Pennsylvania sold to Kuhn, Loeb A Co. two weeks ago $10,000,000. Those who are authority for the report of the transfer of control IneUt that the purchase was made for Mr. Ilarriman's account, although Kuhn, Loeb A Co. won't admit It. Additional Connriuatlaa. "Additional confirmation of the report was secured Trom a prominent officer of the road, who said that not only had Mr. Harrlman acquired control, but that be had begun to exercise It. As to the particular point of policy on which Mr. Harrlman had been exerting his influence the officer de clined to speak. He did say, however, that It had been displayed In such a way as to leave no more doubt that the domi nant Interest In the property was now In Union Paclflo hands than In ths past It bad been' shown- to lie with Pennsylvania. "Both prominent bankers and well In formed railroad men were of the opinion that the Pennsylvania, before parting with Its holdings, must have received assuranoes that the new control of the road would not be used In a manner detrimental to Its Interests. The Pennsylvania and Balti more A Ohio, It was pointed out, are paralled lines for more than half of their routes, and It was Inconceivable that the Pennsylvania would part with Its control of the other without the strongest possible guarantee that the present community of Interest would be preserved. ' " 'Toil can' better appreciate," said ons of the most prominent railroad men in the street, "how' greatly' Pennsylvania's In terests are dependent upon a friendly con trol of Baltimore A Ohio If you stop to consider between how many principal t raffle points these are the only line. Without specifying all of them take Pittsburg as a venter and you will note that westward they are tha only direct lines between Pitts burg and Cincinnati and Pittsburg and St. Louis. Eastward they are the only lines between Pittsburg and Washington, Pittsburg and Baltimore, Pittsburg and Philadelphia and Flttaburg and New York. 'In however great need of money for the completion of Its extension and Improve ment plans President Casaett would never consent to a surrender of the control over Baltimore A Ohio without guarantees as to the management of the road. Such guarantees. It Is quite probable, could have been arranged by Kuhn, Loeb A Co., who are fiscal agents for both the Pennsylvania, and the Union Pacific.' Front tea ta Kea, "Other railroad men were positive In the belief that the transfer of control will In no way Jeopardize the community of Inter est among the eastern trunk lines. Its great advantage. It was agreed, la that It gives Mr. ilarriman's party practically a trans continental line and enables It to make re markably formidable opposition to the rap Idly completing Oould transcontinental sys tem. "The western terminals of the Baltimore A Ohio are at Chicago and St. Loula The eastern terminals of the Union Pacific are Omaha and Kansas City. The St. Paul, which reaches both Omnha and Kansas City, could be transferred to the Union Pa. elflo between courses of a dinner with, but half a dosen covers. The Illinois Central, which connects with the Union Pacific at Omaha and with the Baltimore A Ohio at both Chicago and St.' Lout, and also with the Southern Paclflo at New Orleans. Is a road In which the Harrlman party already has a large Interest. "But neither of these lines, It was pointed, out, Is necessary to make rf the Union Pa. clflo and Baltimore A Ohio a transconti nental system. The Chicago A Alton Is suf ficient for that purpose. "Two years ago the control of the Chi cage A Alton was acquired by the 'Harrl man interests and the Rock Island. The holdings of both companies are in a voting trust providing for harmonious manage ment. The road Is a short and direct line between St. Louis and Kansas City, and while the Rock Island might not care to pert with Its entire Interests In the rrrp erty It has a line of Its own btwn fit. Louis and Kansas City and mlsM consent o a transfer of the Kansas Clty-St. Lnu's division of the Alton to the Union Pacific. At any rate Union Parlfle's Interest In t"e nrooerty la sufficient to Insure as good traf fic arrangements aa probably would be de aired. ' tarttlfleacee tits C"r. "A practical combination of the Baltimore OMo, Union Paclflo and. Chicago A Al'en weuld furnish almost parallel competition for the main links In the Oould transcon tinental chain, the t'nlnn Pactfle competing with the Western Psclfle. now In course of construction, sod the Mlssonrl Paelfln as far east aa Ktnas Citvt the Alton panHel. Ing the Missouri Paclflo from Knnsaa City to Ft. Louis and the Baltimore A Ohio tnk'n care of the Wabash from W. Leal and Chicago te Pittsburg and of the West ern Maryland and the pronoard connecting between the Western Maryland and . Weheafc from Plttabursj to tidewater. "In framing his transcontinental line Mr, OoMld first enoe'intered . the hostility ef the Pennsylvania In entering his Fit te nure entrance and later the hostility af the Union Psclfle fn constructing the Western JraolOo, He at now Usreetaoed wit) .h wimr-gmton pf -a rransronttnent Hn with equipment vastly, superior and with MtaMlnhed business long before the oom ptetloa of the Unas connecting ths Oould roads Is possible. "The Interest In Reading derivable from control of the Baltimore A Ohio Is con siderable and may with other purchases secure for the Union paclflo party control f that road. It la believed, however, that If such control passes or has passed It will be on terms satisfactory to the Van derbllts, the Pennsylvania and . the hard eoal Interett The Vanderbllts, through the Lake Shore, own aa much Reading stock aa does Baltimore A Ohio and have use of the Reading for a southern outlet. To the Pennsylvania and. In fact, to all hard coal roads ths, friendly ownership of Reading la of prime Importanoe on ac count of the dominant position of that road, which owns twice as much coal land aa any other. The anthracite situation Is adjusted so satisfactory to all parties that none of them would consent to a breach of the present arrangements. "The Pennsylvania, unless It has sold much more Baltimore A Ohio stock than has yet been announced, will remain aa Influential fsctor In the company. It re tains, according to the manuals, ttt.OOO.OOO Baltimore A Ohio stock Itself and nearly I 120,000,000 under the nominal ownership J of the Northern Central, the Philadelphia, Baltimore A Washington and the Penn- j aytvsnla company. It Is probable that when alt the particulars come out the Penn aylvanla will be found to have parted with a part at least of this aggregate of $21,000. 000, but at any rste, bankers said, the sale . will be made under guarantees that will protect the Pennsylvania." TRAITOR TO GREAT FAMILY I'ngratefnl "on of the Tribe Boldly gheda tha Rame af Smith. Just before conferring his name upon Miss Florence Mott, daughter of Judge A. B. Mott of Neenah, Wis., Prof. Ernest Bradford Smith of Pennsylvania university had his own name changed by law to Er nest Smith Bradford. Asked as to his mo tive, the professor replied with great sim plicity: "There are entirely too many of us," meaning, of course, that there are en tirely too many Bmlths. But, as a matter of faet, there are not. There could not be. This world Is all the better for Its numerous Smiths. One may meet 100 Bmlths every dsy and yet not feel that he has met too many of them. All Smiths are not alike and It Is only natural that some Smiths should be better than others, but the average Smith Is deemed to be worthy of the confidence of the average man of soma other name, and the chances are that the Average man of some other name will take more kindly to an average Smith, everything else being equal, than he would to the .average Brown, Jones or Johnson, although there Is not a word that could be truthfully said against any of the latter names. "How do you do? My name la Smith," hsa a ring to It that has driven the blues away from many a homesick (traveler In foreign lands. If It comes to be known that there Is a man named Smith on a railroad train he Is never permitted to travel far without being assured that all the others on board are his friends. If a man named Smith appears at a publlo meeting he Is almost certain to be asked to take the obalr, No Smith has ever been president of the United States, It la true, which would seem to Indicate that there la a limitation to popular confidence In people of that name. But the fact Is that the Smiths themselves are responsible for their failure to reaoh the White House, They are the moat modest and diffident of people when It comes to politics, and the thousands of them who have held high positions in city,. .state and. national af fairs have been exalted against their pro test. They would. prefer to remain In tha ranks, among the workers. ' As Prof. Ernest Smith Bradford, Prof, Ernest Bradford Smith that was will miss tha cherry greetings with which he was everywhere received, from Philadelphia to Neenah, In the old days. Bradford will strike his former friends as too coldly dig ntfled. And yet It must be conceded as his right to change his name to suit himself. A man must always bo In the closest as sociation with his name. It Is something that he cannot get away from, and If it Is disagreeable to him, or Inconvenient, or a name that Is not wholly acceptable to the young lady who Is willing to change her name for his sake to another, the beat thing he can dp, perhaps, Is to get rid of it But It does not follow from this that there'are too many Bmlths. There could not be, except in the opinion of the di rectory people, and it la their business to make directories, not to crittolee names.- Chicago Inter Ocean. NEW LIGHT 0N BOOZING Doctor Declares Drankennnesa Has Coaaa ta Ba Reckoned with aa a Dlsaasa. Dr. George A. Lung, a surgeon of the United States navy, has recently made a most notable contribution to tha discussion of the effects of alcoholic drinking, In a paper read by him before the Association of Military Surgeons. Pr. Lung comments on the general growth of excessive drink ing and on the Influences exerted to counteract such tendencies, He does , not admit any necessity for the use 'of alcohol. On this point he says: "The evils that arise from alcohol are from Its abuse, not its use. But who is to be the authority to set the limit, and aay where safety ends and danger beglnsT As a beverage, or even as a medicine, I am almost convinced that the world could be deprived Of alcohol and not suffer. I am almost convinced that the world would be better for Its ab sence." ' Tha nations most addicted to drunkenness today, the author finds, are the United Statea, Great Britain. Ger many, Ruasla and France. The opening wedge Is usually the Insidious argument that "a little drinking will do no harm." but soon this develops the universal crav ing, which sooner or later gives license for an Indulgence, making an evil end probable. Whatever may be said about 'the Im perfections In the methods employed by temperance advocates, and the spparent lack at times of definite results, Dr, Lung asserts his conviction that "the Intention at least Is a moat commendable on and worthy of support." The boast of , the average young drinker, that he has suffi cient will power to break off his habits of Indulgence when he so desires, la not over looked by Dr. Lung. He declares that "no young man, or even an old one, whs may be classed as an occasional drinker, can foretell to a certainty that be will not degrade, as he advances In yea re, first to the state of a drunkard and then to that of an Inebriate." He thinks that one who has followed ths Platonic In junction of drinking In moderation only after 0 and making his sportive Indul gences only after 40, may feel reasonably confident that he will not descend Into ths other undesirable stage. "But, though he may be satisfied aa to himself, runs the further comment, "be haaaqt escaped the responsibility that his example and Influence on others hsv been. The contention advanced In consequence ef these observations 1s that drunkenness has come to be recognised as a disease which not only unbalances the normal physical life of the Individual,, but make him a disturbing factor In every walk of Ufs.HUsH.aa WetVl. TIIE OMAHA FIVE MIGHTY FAT TEARS Facta and Figures About the Wondarfol Frotperitj of ths Oeuitrj. UNPRECEDENTED UPLIFT ALL AROUND Paeaeaaeaal Crops, Large Acreage ad High Price Aa Aaaaslag Lean la the Fortaaea of the Caaatry. Through Ave consecutive year the United States has enjoyed a degree of prosperity without precedent In hlfa century, and perhaps not In Its history. Tbe immediate cause of this a mating leap In the fortunes of the country Is ana lysed by Carl Snyder In Moody's 'Magasln. The last Ave years of farm production have been doubly exceptional, W have known phenomenal crops associated, some times with large acreage, sometimes with high prices. This triple combination has been known to occur In a single year; perhaps once or twice, as In 1181 and 1882, for two year. It hat never before been known tor five consecutive years, and It will probably not be known again within the lifetime of the preeent generation. Our principal crops In order ot total value are, corn, hay, cotton, wheat and o,ta Ths total value of these live crops tor ths last five years of the last century amounted to $9,OC,000,000. The return for these same crops for the first Ave years of the new century were more than $14,000,000, 000, a aheer advance ot more than W per cent. These crops represent a little more than half the gross yield of the nation' farms. We may then roughly compute that the Immediate supporting population of the country received on an average $2,000,000,000 per year more for Its labors, through these five astonishing years, than what might be regarded as its normal return. The sggregate values for all farm prod ucts for the year isne were estimated by the department at more than $6,000,000,000. It would probably be difficult to show that ever before In history, has farming re ceived so high a return as In the last year. Independence of Farmers. It Is perhaps no exaggeration to ssy that In consequence ot these five unprecedented years, the American farmer ia In a position of greater economic Independence, not to say, opulence, than has ever before been known to a tiller ot the soil. In 1875 the United States possessed a population between 40,000,000 and 45,000, 000. It haa doubled In thirty years. In 187$ the total mileage of the country was but 70,000 miles; In 1901 it was three times as great. In 1S7S the total gross re'aeipta of the rallwaya was $500,000,000. In 105 they exceeded $2,000,000,000. That is to say, the total-traffic was four times aa large. In 1175 all the railways represented a capital of stocks, bonds, and debts of $4,500,000,000. In 1904 the corresponding account waa $14,000,000,000; that is, rather less than three times as great with four times the traffic. ' Tb earning power of the Invested cap ital had Increased In this period by 80 per oent. In 1875 the railway trafflo earn ings were a little less than 10 per oent of the gross capitalisation. In 1905 they were nearly 15 per cent Very naturally stock valuea show a cor responding Inoreaae. In tha period from 1575 to 1880 the average value of the Shares of the ten leading rallwaya of tha nation ranged around $80 to $70. Tbe average aank. In 1877, to aa low as $$9 a hare. At the close of 1905 It waa about $100 a share. The average dividend return on tha market price of tha sollder railway stocks In the meantime had been cut very nearly In half. The average return to lnvestsd capital even so late as 189$ and 1895 was between 5 per oent and 6 per cent An average of twenty of the leading dividend paying stocks at tha close of 1905 showed a return of but a little more than S per cent In 1897 tha total listings of bonds waa 1&0, 000.000. Ia 1906 It waa $880,000,000. Oataut af Minerals, ' In 18S0 the total production of coal In the country, both anthracite and bituminous, was 70,000,000 tons. In 1905 It was 875.000,000. In 1890 the estimated value waa $145,000,000. In 1901 it was $300,000,000, In 190$ It was $530,000,000. The Increase of pig Iron production was still mora remarkable. A quarter of a century ago the .annual production was about 8, 000,008 tens. The production for 1905 waa $8,000,000 tons. The annual value of the pig Iron product from 1881 to 1898 ranged about $100,000,000 and In 1905 It reached a record total of $377,000,000. From 188$ to 1894 the net deposits In all of the national banks of the country In creased from a little more than $1,000, 000,000 to $$,000,000,000. They all fell away rather sharply In 1197, following the bad rear of 18$$. They rose from about $1,750,000,000 in 1897 to more than $8,000,000,000 In 1906. Tha Increase In tb eight years was not far from $00 per cent If we add to this the $3,150,000,000 held by the savings banks and tbe $4,260,000,' 000 of deposit in state and private bank and the loan and trust companies, we shall have an aggregate of deposits of nearly $18,000,000,000. That la an average bank account of more than $150 for every man, woman and child In the country, or an average of $760 for every family, from tenement house or fishing village to $5, 000,000 copper kings' palaces on Fifth avenue. There were, in 1904 and 1905, nearly 5,000,000 Individual depositors In the sav ings bank of the eountry alone. Their deposits were three times greater than All those of the United Kingdom, or Austria, or rranoe. and half again as large aa the hoards of thrifty Germany. More than $,000,000 Individual in the United State are paying' la annually to life Insurance eompanlea more than H, 000,000 per year. Thl exceed $100 for each policy and represent in large part a saving bank account The actual amount of money per capita In circulation la the country has been rather more than doubled In thirty years; It waa only a little mora than $11 per head In 1$77 and 187$. It now exceed $81. Immigration' passed the record mark of 188 In 190$ and axaia in 1904,' reach ing the unprecedented figure of mora than I, 000,000 in the yat year. It will be curious to observe whether financial his tory will repeat Itself in 1804-07; and a harp depression follow the incoming of this foreign flood, as It did In 18T8. in 1814 and lo 1$8. - ' Chancellor Par' Uplgrama. ' Chancellor James R. Day of Syracuse university Is noted among the student for hi brilliant if somewhat caustlq pW grama I once attempted to defend a certain action before the chancellor, said a Byraouaan, "and I know that my defense waa feeble. The, chancellor listened to me with a bitter smile and when I reached my lame conclusion he said: Tour defense la rather an attack. In your attempt to praise you condemn. Sup pose that I wished to dilate on the value Of advertising, would I say: 'Who says that publicity doesn't payf A burglar overlooked $600 ia a drawer sad the papers mentioned tha faet The thief returned the) Mat night and aot anly SUNDAY BEEi SEPTEMBER 23, 1900. Yfa IJiraini.tift ALL THIS WEEK -AS LONG AS THEY LAST REAT ODSeyOT SjftLLi F THE Chickering & Sons Pianos, grand and upright at $100 discount. Everett Pianos at $75 discount. Ivers & Pond Pianos at $50 discount. Many other high grade standard makes at half price. New Pianos at $125, $157, $179. '. These Pianos are not damaged by fire, water, earthquake or railroad wreck. They are not cheap, unknown makes, shipped in to deceive the public. :: :: For months we have been preparing for this great sale, placing large orders wherever ready cash would ick up rare bargains. Pianos have been arriving for weeks in parload lots, and more car loads are on the way. Never have we had so large a stock to select from, and never have We been able to offer such tempting prices. Not Matched in Omaha for the Money, None Better in the World at Any price. All new and perfect, not worn out ' pianos taken in, exchange, nor second hand pianos returned from renting! Economical buyers need not hunt for other peoples cast-off pianos when fine new one;s may be purchased at this sale at such low prices. s ' HOW CAN WE DO IT? CALL AT OUR PIANO STORE AND WEXL TELL YOU ALL ABOUT IT Organs $2.50, secured the 1600 but a allver watCb aa well.' HAT CHECK; RULE ON TRAINS Fasseager Resents the Idea that Ha Shoald Help tha Can doctor. ' Many persons, who, traveling, have had annoying experience with the "hat cheek." will watch with interest for the outcome of the suit to be Instituted, by Jamss Wllcher against the Great Northern Rail way company. Mr. Wllcher was ejected from a train near Marcus, Wash., because he eould not produce a hat check showing1 that ha had given to the conductor a ticket entitling mm to ride to nis destination. He alleges that the conductor took up his ticket and did not give him any check In exchange. From the allegations as to fact It , is possible that the point of most Interest will come up In the present case. This I the right of a conductor to claim the production of a hat check when one has admittedly been given. A passenger buys and pays for a ticket entitling him to ride ta a certain station. When that ticket Is presented' to the conductor the pas senger's part of ths contract. It la claimed by many, is completed. He has assumed no obligation to assist the conductor In remembering how far he Is to ride. The hat check Is nothing more than ' a re minder or evidence for the guidance) of the conductor. In many cases it la not even handed to the , passenger, but Is placed In a clip on the side of the ear, or In the slats of the wtndow shade. If handed to the passenger with an ad monition that It waa an exchange ticket which he would be required to show as evidence of his original contract he would probably put it In his pocket for safe keeping, but so far as the conductor's convenience la concerned, be might as well retain his ticket The hat check Is not an assurance to the paaaanger that he may ride to his destination. The con ductor puts a number on It. but no sta tion name, and the paasenger does not know that the number Is correct for his tatlon. Conductors, of course, are not supposed to make mistakes, but they are human. Many way will suggest themselves to traveler In which a hat check may be lost or overlooked. If not securely held In the hat band, and many have had em barrassing interviews with the conductor. They claim that it Is not right to hold them responsible under an arbitrary rule eatabtlshed by tha railway company for the convenience of the conductor. A de cision on this point would be of general Interest.'flpokane Spokesman. V Rfaslnirs of a Cynic. Many a girl haa lost a good friend by marrying him. Many a good husband hasn't tha nerve ta be anything else. Tomorrow never comes that Is, unless you have a not to meet. Borne men never accomplish anything without a pacemaker. It la quite possible that tha Lord also loveth a cheerful loser. A man' Idea of an Ideal wife 1 on who thinks she has an ideal husband. Liquor Improves with age. The longer you keep It the better It Is for you. Fig ure It out. The minute a man accomplishes any thing he Is called a crank by those' who have (ailed. . ' Of courae every maa understand that salvation Is free till ha stark up against a ehureh fair. The first acrateh on her neW furniture Is apt ta convince the bride that marriage la a failure. Tha fellow who tell a girl ba would lay down his life for her often balka when ha has to tell her father. When a girl begins to call her fellow by his first name It generally Indicate that she haa deaigna on his last New Terk Time. $5, $7, $10 EASY PAYMENTS ON ALL SALES DO YOU WANT TO BUY OR SELL FARM LAND If so, you should advertise in a farm paper. Here are a few facts worth considering: , You Cannot Cover the Richest Section of the West Without Using ' THE TWENTIETH CENTURY FARMER ' IT has a larger list of prosperous fanners and stoctemn at $1.09 a year each than any other farm paper in its territory. IT has by far a larger circulation in Nebraska than any otheo ' farm publication. ' j IT has a larger circulation in Western Iowa than any other farm paper. ' , IT has a larger circulation in Northern Missouri than any othes farm paper. , IT has a larger circulation in Eastern Kanaas than any othes farm paper. IT has larger circulation in Oklahoma and Indian Territory than any other farm paper published outside of the territory, , IT has a strong THE BEE ran ALMif Square Pianos circulation in South Dakota and IT is the only farm paper with, a strong circulation with ranga cattle men of Wyoming, Colorado, Idaho, Montana and Utah IT is a clean paper in every department and only reliable adver tisements are accepted. ; 65,000 CIRCULATION PROVEN DY POSTOFriCE PUBLISHING COMPANY, OMAHA, NEBRASKA . ..... 1 .,.:,ty--i Hint"! ' ---"'' a I f . H $5, $7, $9, $13 Illinois. "1 RECEIPTS. Vi i I i a i i W'i j i t t s ! 1 I s 4 n