TIIE OMAHA" SUNDAY BEE: MAY 29. 1910.
"E
BATTLE OF FINANCE BREWS
Three Great Financial Institutions
Girding; for Clash.
I
PIEHPONT MORGAN AGGRESSOR
Mtl'i Outlined Program tor Co
solldatloa Spun prr A Co.
ad Kahn, I.oh A Co. (
Similar Artloa.
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' BT PHEPTON C. ADAMS.
NEW YORK. May 2S. -(Special IXpa.tch
to Th Be.) J. I'lerpont Morgan will sal)
from Kirope on June 14 and when he re
turn -it l not unlikely that there will be
further development" In the Morgan plan
for the consolidation of the banks and
trust companies of the city under the Mor
gan banner.
The vut power already possessed by J. P.
Morgan & Co. among New York's financial
Institutions can be gathered from the sub
joined table, which shows that the trust
companies the firm dominates have aggre
gate deposits of $375,406,400. while the four
national banks controlled by the same
group have 39,519,800 deposits, s, grand
total of $744,928,300, exclusive of the Morgan
connection with the New Tork Life and
Equitable insurance companies, with as
sets of fully $1,000,000,000.
'MOHaAN, TRUST COMPANIES.
Agsxefrate
Capital. twposits.
Alitor $ 1.2.V).0n0 $ 14.61ft.AOO
Kanknrs g.OOO.000 ftA.9M.n00
ouaranty 6.(iO.0ri0 JU. 210,700
Kqultahle S.OnO.OnO 4H. 307,100
Mercantile 2.000,000 M.MD.OOO
New York 3.000.i00 39.Wl.f00
Standard 1,000,000 1S.MO.000
Total $18.2S0,000 $.175,408,400
"MOnOAN" NATIONAL BANKS.
Aggregate
Capitol. Deposit.
First National $10,000,000 $ WUiOft.400
Liberty 1,000,000 17.3.r4.4"0
Bank of Commerce 81,000,000 112,309.W0
National City 2.1,000,000 159.346,200
Total $G1.000,000 $169,319,600
Competitors Interested.
'There Is another factor In the New York
banking situation which Is growing
stronger. It Is headed by the great Interna
tional banking firms of Kuhn-Loeb & Co.
and Speyer & Co. A few years ago these
two Influential houses were not to be found
forming Joint syndicates, but since J. P.
Morgan & Co. began to aggressively reach
ot for greater and still greater financial
power other leading Interests have felt It
necessary to readjust their position.
It Is thu general opinion In high financial
circles that ultimately practically all the
tig banks and trust companies will be
compelled to ally themselves with one or
the other of these groups and a battle
royal for the dominance of American
finances will be fought out.
Eighty-six railroad and Industrial cor
porations In the United States have In
creased their disbursements or declared
Initial or resumed dividends since January
1 to an amount cqulvulont to $.17.G24,77li per
annum. Only twunty-three railroads as
contrasted with sixty-three Industrial
companies have been able to treat their
stockholders with greater generosity; the
railroad Increase represents $15,003,706,
While Industrial stockholders on the new
basis will receive $12,621,070 more than dur
ing 1809. Aggregate dividend payments to
date this year have been $297,549,674, an In
crease of $,2S0,0C5 over the first five
months of 1009.
Industrial Disbursement.
Industrial companies throughout the
country have disbursed during the last five
months In the form of dividends $154,942,831
against $126.W).JJ5 last year, an Increase of
$29, 136, WW. The railroads have paid out
S142.A06.S43, as compared with $125,618,194 In
1909, the Increase having been thus $17,
004.549. In other words, while the railroads
and the Industrials each distributed less
than $120,000,000 from January 1 to the end
of Mar last year, the latter have been
able to Improve their disbursements by
mora than $12,000,000 In excess of the In
creases made by the railroads.
A careful survey of the dividend out
look, combined with Investigations In the
financial district, brings out the fact that
of 135 representative stocks listed on the
New Tork Stock exchange at least twenty
seven are expected to raise their dividend
rates during the current year. Of this to
tal twelve are- railroads and fifteen In
dustrial enterprises.
As to what Is limiting railroad develop
ment In the west, an official of a big west
ern system says that It is not a need of
money, but a scarcity of laborers and ma
terial. "It Is a problem," he continues,
"to find men enough for the ordinary needs
of an established line, let alone the diffi
culty of finding men for construction gangs
on new work.
Labor Shortage.
"In my opinion the trust question fades,
Into Insignificance by comparison with the
shortage In the labor market. If the port
of New York were closed to Immigrants
the condition would become lmmedsurably
worse. To get 2,000 men to work on rail
road building It Is necessary now practic
ally to scour the country. On the other
hand, I have no doubt that we could pick
up 6,000 clerks in this city In two days'
time.
"The railroads not only have great diffi
culty In getting help, but In keeping what
thoy get. We recruit our forces In Chicago,
Kt. Louis and other large cities of the mid
dle west furnishing free transportation to
the location of the piece of work for which
they are wanted. Where this Is a matter
of a year or more In building we have to
engage from five to ten times the number
actually at work at any one time before
wo are through, and where the demand for
help. Is particularly acute we have fur
nished transportation to as many as twenty
men for every one we needed."
Ridiculous as It may seem to most bank
ing and bond Interests, It now Is figured
serlousjy that the principal cause for the
apathy In the domestic market for bonds
Is due almost 1 entirely to the craze for
automobiles and motor yachts, which Is
credited with using up the greater part of
the surplus Income of persons who hitherto
haev been large bond investors. Estimates
on motor cars to be manufactured this year
pluce tho number at 140,000, and their value
at about $210,000,000. Estimates on the num
ber of automobiles already in use Involve
about SOC.OOO, and estimates on tho expense
of tho maintenance, operation and inci
dental expenses average about $800 a year
on each car, or an aggregate of $762,000,000
a year for the $40,000 cars. The grand total
for the purchase of new motor cars this
year and for the maintenance of these cars
and those already in use, therefore, is fig
ured at $962,000,000. A large part of this
amount. It now Is thought would go Into
bond Investment were- It not for the grow
ing desire of all sorts and conditions of men
to own and operate horseless carriages.
"Why Is It." asked a veteran grain trader
In the Produce exchange the other day,
"that nobody pays any attention to Penn
sylvania wheat? That state raises prac
tically as much as Missouri and is not far
behind Nebraska, and has Identically the
same acreage this year as Oklahoma."
DANCER LURKS IN HATPINS
Veteran Elevator Boy Discusses Fem
ininity's Head Apparel.
REJOICES CHANGE IS COMING
i
Declares that Wide Hill and the
Baronet Stylo Pin Are Posltlro
Menaces to Hainan
aletr.
"Hatpins," said the veteran elevator boy,
"are some nuisance. Why, I have to keep
dodging constantly to save myself from be
ing Jabbed. (Seems to me the hat pin
factories must be working overtime turn
ing out spears and gigs and bayonets for
the ornamentation of fluffy curls.
"Honestly, many of the women who come
into Omaha elevators and I suppose It Is
the same In all the other cities wear hats
so broad that they almost block the en
trance. Naturally the length of the hat
pin must be In keeping with the diameter
of the hat and that means length.
"I do not pose as an authority on woman's
wearing apparel. Ordinarily, It would be
none of my business what they wear, but
I must say that since my work compels
me to be cooped up in an elevator cage,
obligated to carry female as well as male
passengers, It becomes a matter of concern
to me, this hat business does.
"I never in all of my life before cared
to read fashion dope, but hor of late I
have been perusing millinery journals and
oh, Joy! I see by. a recent publication that
the hat styles are changing and that the
to the scrap heap. Then maybe the pins
ultra-wide effect is soon to be relegated
that holds the hats on the head of femin
inity will not need to be so long and
dangerous."
"Women themselves are comparatively
safe from the hat pin of their neighbor In
the elevator, because each woman wearing
a wide hat, they are thus protected from
each other. The rims of their hats col
lide, of course, but no damage to person
results.
"If you don't believe what I say about
the wide hat nuisance, Just take notice the
next time you ride in the elevator of airy of
the big office buildings. Watch the men.
See how they crowd themselves Into the
smallest possible space away over in an
obscure corner."
Ernest C. Page
Takes a Wife
Omaha Attorney Leaves Bachelordom
to Wed Mrs. Ness of Chicago
Ceremony Today.
Ernest Clifford Page, member of the
Douglas county bar, former exalted ruler
of the EUks and former police commis
sioner, Is being married this afternoon to
Mrs. Carolyne Ward Ness of Chicago, the
ceremony taking place at 4 o'clock at the
residence of A. W. Kinsman, 1U South
Twenty-fifth avenue. Rev. T. 3. Mackay
Is the officiating clergyman.
Mr. Page Is a bachelor of some years
standing and on securing his license to
wed In the morning remarked a group of
more or less 'eligible" bachelors standing
beside him in the county Judge's office:
"I hope my example will be followed by
some of you."
"It's a fine day," said the prospective
bridegroom as he glanced out the window
Just as ha departed.
Mr. and Mrs. Page will live at 202 South
Thirty-first avenue until a home Is fin
ished which Is beng built for them near
the Field club. Mrs. Ness has been living
In Chicago recently, but la a former resi
dent of Omaha.
Caoaht in the Act
and arrested by Dr. King's New Life Pills,
bilious headache quits and liver and bowels
act right. 25c. For sale by Beaton Drug
Co.
Persistent Advertising Is the Road to Big
Returns.
DREXEL 1
THE MISSES'
SHOE STORE
fraf
(VI
Tired?
Try a glass of
FAN-TAZ.
It's red, rich,
sparkling, exhila
rating, refreshing.
It drives the cob
webs from the brain
and clears the wea
ried mind.
It's pure, whole
some, delicious.
It's the drink that
helps .you think.
At all fountains and
in bottles 5c
THE T. F. MEM MEN CO.
Lincoln, Neb.
Nebruka Dutribut
VJskaV.aV MJM fun
Injured In a lire
or bruised by a fall, apply Bucklen's Arnica
Salve. Cures burns, wounds, sores, eczema,
plies. Guaranteed. 25c. For sale by
Beaton Drug Co.
DuBctuFBailcy,
Sanatorium
This institution is the only one
in the central west with separate
buildings situated iu their own
ample grounds, yet entirely dis
tinct and rendering it possible to
classify cases. The one building
being fitted for and devoted to the
treatment of noncontagious and
nonmental diseases, no others be
ing admitted. The other, Rest
Cottage, being designed for and
devoted to the exclusive treatment
of select mental cases, requiring
for a time watchful care and spe
cial nursing.
Many a Misses' foot has
been ruined by an ill-fitting
shoe.
Fitting . shoes to growing
feet is an art acquired by
years of experience, not every
salesman has this experience.
Hero we never allow our in
experienced salesmen to fit
a misses shoe.
Besides the fitting, quality
and style have a great deal to
do with the satisfaction the
wearer gets.
A trim, dainty foot proper
ly fitted to our misses
$2.50 and $2.00
shoes or our" young woman's
$3.00 and $2.50
shoes is a guarantee of satisfaction.
Drcxcl Shoe Co.
1419 Farnam St.
351
DON'T SUFFER
Don't neglect Rheumatism, don't continue to suffer with
troubles caused by disordered blood, don't try expensive
treatment, when you can be quickly relieved and perma
nently cured with a pleasant, perfect remedy that has
proven its merit for 75 years. Thousands testify to the
worth of
, , .
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They contain no Salicylates, Iodides or Alcoholthese
being ingredients that may help Rheumatism but hurt
the digestive organs. Hill's Rheumatic Pills are purely
vegetable with the exception of a small amount of common
soda a valuable part among ingredients that are benefi
cial to the entire system.
Ask Your Druoclsl
MYERS-DILLON DRUG CO.
PRICE $1.00 PER BOX.
or send to us for a free sample.
BELDEN & COPP CO, Mfas.
M
mneapo
lis. M
inn.
We Opened
Saturday
Bee Want Ads Boost Your Business
You arc cordially invited to
Tlsit our new up-town retail
slore, 1317 Faninm Mroct.
This Week
We will show a Mrlctly high
grade line of Trunks, Maniple
Trunks, Nuit Oasra, lilies' lea
ther Hand llaps. Minall leather
goods, etc. TlieNe are all
"Omaha made" product.
lloont for Omaha and homo
industry.
SPECIAL
For Monday and Tuesday
NXilj '. Tji Ml' i
This high grade, Cowhide
Suit Case, steeled frame,
good handles, extra
heavy leather corners
Monday and Q fflQ
1 UUUUiiy UI11 ,
at . ;
Omaha Trunk Factory
IS 1 7 Farnam SI.
'ASTHMA
If you suffer, call or writs mo at one
and learn of something you will be grate
ful for the rest of your life.
J. G. McBRIDE, Stella, Neb.
I Til
' ' I1
To the Fair minded Citizens of Omaha:-'
Believing that the average American citizen desires fair play and that also a large number of voters are intelligent men who wish
to have knowledge of both sides of any public question presented to them, we publish herewith a letter which we sent to the editor of
the World-Herald on May 20th, having waited until the; present time to give him every opportunity to publish the letter it so desired.
Today the editor. has stated to our general manager that he did not care to print the letter.
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It is unnecessary to make extended comment upon the matter because the letter speaks for itself. Of course when a newspaper
which has a wide circulation refuses to give an authorized statement to the public of -either side ;in a controversy, it is impossible for
the public to judge of the merits of the case, therefore we take this means of placing the information before the public.
THE OMAHA WATER COMPANY,
By Theodore C. Woodbury, Presid ent
TXXODOBX O. WOODBTTBY,
President .
T. O. Box 378 as BBOAO ITUIT
OanaraJ Xaaarar,
OMAXA. VXBBABXA
The Omaha Water. Co.
New York,Miy23, 1910
To the Editor of the
EVENING WORLD-HERALD,
Omaha, Nebraska.
Dear Sir $ "
A clipping from your paper of the 12th instant has been sent
me which gives a very short extract of a letter which I sent to the
Water Board and which was delivered to you for publication in
. full. I am unable to understand why it waa not printed in full
unless it is your deliberate intention to mislead the citizens in
reference to water matters and not give them the side as presented
by the Water Company
There was no ridicule in my letter of a statement of the Water
Board that "a decision may be expected from the Supreme Court
in thirty days," for no such statement was made by the Water
Board- What they did say in the letter was "especially when that
question (referring to tne pending litigation before the Supreme
Court) will be decided within thirty days." I merely suggested
in my letter the impossibility of such knowledge. .
Unless the letters that I write to the Water Board can be pub
lished in full in your paper, instructions will be given not to de
liver any of our letters to you. We are anxious to let the citizens
of Omaha decide on these matters between the Water Board and
ourselves as to who is right. The people have been woefully de
ceived and the Water Company is not at all afraid to have its
position known to the public, and think, in fact, the people have a
right to know, but if the newspapers who are supposed to furnish
the news do not care to publish but one side of the question, of
course it is impossible to bring before the people the condition
of things.
You and ourselves ought to be in harmony, as we are both
believers in municipal ownership of the water plant. We have
been doing our very best to make the city take the water plant
since July 9, 1906, almost four years, and are still striving to do it.
It is difficult to understand why the citizens of Omaha do not
insist upon the Water Board living up to their contract obliga
tions, as certainly the present unfortunate condition of affairs
(due solely as the Water Company honestly believes to the atti
tude of the Water Board) is not in the interest of the City of
Omaha. When the Water Eoard state publicly, as they did in
their recommendations to the citizens in May, 1909, to vote the
$6,500,000 bonds that, "we believe the plant will sustain itself,
paying interest on the bonds, cost of operation, and create a sink
ing fund to pay off the bonds without additional tax, in other
words, we believe we will be buying a revenue producing property
which will carry itself," and also, "if the bonds are voted. .
the interest and expense of running the water works will be paid
out of the revenues derived from the sale of water without addi
tional taxes on the property of the city, why should there be any
opposition on their part to taking and paying for the property?
It also seems illogical, to say the least, for the Water Board to
hesitate about taking the works at the appraised valuation, when
Mr. Howell, the apparent spokesman of the Water Board, is re
ported to have said in a public interview in your paper that
"The Omaha Water' Company is now paying interest and divi
dends on just about the same amount of securities that the Omaha
& Council Bluffs Street Ry. Co. did at the reorganization when
Mr. Wattles and his friends took control, viz: about $7,000,000,"
and goes on further to say, "I unhesitatingly venture the asser
tion that within six years the Omaha Water Company, or the
syndicate that succeeds it, will be paying proceeds on a like cap
italization if a twenty-five year franchise is granted and the peo
ple of Omaha will be footing the bills." If the citizens of Omaha
would only stop to consider these things and recognize the loss
which has accrued to them through the action of the Water
Board, it seems to me there would be some demand upon the
part, of the citizens that the Water Board assume a different
position. ; The fact 'of it is that the citizens have been woefully
misled, but how can it be otherwise if the papers refuse to pub
lish the side of the Water Company? . A paper of the standing
of the WORLD-HERALD and with its influence in the com
munity should certainly be willing that the public be informed
on both sides of the controversy.
Yours very truly,
(Signed) Theodore C. Woodbury,
President,
THE OMAHA WATER COMPANY.
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