COMMITTEE ANSWER HOWELL
Signed Statement Given Out on the
Auditorium Bond Election.
CALL IT PERSONAL FIGHT
Cttisen Assert thnt P. A. Nnnh
Orcns Lpsa Than Three Per Cent
of the Stock of the AnilU
' torlnm Cnmpnny.
Scathing denunciation of n. Becchfir
Howell, who has taken upon himself the
burden of flghtlns tlic proposed tSO.000
auditorium bond Issue which will be
voted on by the people Tuesday, was
uttered by members of the Citizen's Audi
torium committee, which Issued a state
ment charging the Water board boss with
allowing- personal differences to Influence
his Judgment.
Following Howell's attack on F. A.
Nash', presldent-'ot the Auditorium c6m
pany, the committee of citizens prepared
a statement showing that Nush ownrd
Ipss than 3 per. cent of the stock and
that he would , not be benefled to any
extent, by the salo of the Auditorium to
the ctly.
Following Is the statement Issued by the
committee: , ,
To the public: Our attention lias been
directed to a political advertising card,
rent out by Jt. H. Howell, In which he
tukes It upon himself to advise the voters
of Omaha as to how they should votn
tipon tliq. Auditorium bond Issue next
Tuesday.
Mr. Howell makes statements, based
upon his opinions, which aro the result,
a Is clearly shown In the circular, of
hla personal differences with the presi
dent of the Auditorium company.
"Wo regret that Mr. Howell would
peimlt hla personal differences with the
president of the company and his per
sonal ambitions to Influence him to xp
ose a public enterprise of such impor
tance to all the people of Omaha.
It Is our opinion, that the purchase of
the. Auditorium under the proposed fav
orable conditions, Is of sufficient Im
portance to be considered upon Its
merits. It concerns the future of Omaha
and Its citizens should not be sacrificed
to further the personal ambitions of any
one.
This opinion Is shared by the business,
political and civic, organizations prac
tically without exception.
. It Js the opinion of men, competent to
Judge, that the JD0.000, which will be
available It the bonds carry, Will be
ample' to properly finish and equip tho'
Auditorium.
An Auditorium Is not considered by
public spirited arid progressive citizens
ns an Investment proposition. It Is re
garded as a necessary part of the equip
ment of a progressive city, the same aa
Its publlo parks, library, public 'schools
and other civic institutions.
No Individual or corporation controls
enough of the stock to dlctato its man
agementthe president of the company
controls less than 3 per cent of the
stock. The stock, Is owned by more
than 2,000 shareholders, each .of whom
will receive his pro rata amount of the
proceeds after all debts are paid.
This committee, appointed at tho cltl
rens' meeting Fehruary J3. has no mo
tlvo other than the welfare of thfe peo
ple of Omaha when It. urges you to
go to the polls next Tuesday, .March 10,
and vote "yea" for the .Auditorium
bonds.
CITIZENS AUDITORIUM COMMITTEE,
T. G. "NORTH WALL.
CHARLES A. Q088.
VAL. J. PETER.
W. H. IJATTEROTH..
FRANK A- . KENNEDY.
C. C. GEORGE.
JOHN ROSICKV.
WOMAN RESCUED FROM
SUFFOCATION BY SON
i;.'
'Mr.- Arthur-Carter, ?8 Davenport
street, who Inhaled. lllurqlhstlnK ffas es
caping from, a, faulty lyster connection
more than a'week ago, is reported as still
111. a eerlous condition-at' her home.
According to Carroll II. Wright, her
attprney, the entire house, Including tho
basement in which' a fire was .burning In
the ..furnace, was filled with gas and
Mrs,' Carter was aroused from a Bcml
unconscious condition by Tier 8-year-old
son.
REAL ESTATE LOANS.
FARM and city, loans mad Promptly.
Wm, McCormlck, 1201 Farnam. Red. 2066.
..tmV .Mnn- I.nrL'n lftltnil A. MDACllLltV.
W, U. TUOmas. g 8W linnn mu.
WANTED uiy uan y;iv if
vr, Farnam Smith & Co.. ICQ Farnam 61
HARRISON & MORTON. 818 Om. Nat.
OMAHA homes. East NeOraaka farms.
O'KEEFE REAL ESTATE CO.,
J01C OMAHA NATIONAL. Douglas 2715,
REAL ESTATE WANTED.
LIST your house with Osborne Realty
Co. Over 100 sales in 1913. Call D. HT4.
ness. Exch.. 330 Om. Nat. Rk. Doug. 1MS9,
n.n.T. v'.n.'V m nnnmwA Investment
securities or lan for auto, other prop
erty or tana. '"
v iirTY t At truff fit a cnod. clear
for
gatow; furnace, electric lighted, bath, city
water; near Miller park; on car lino and
within walking distance of proposed 1100,
000 telephone exchange. Rented now. Re
turns more than 7 per cent on.a $3,000 In
vestment. Easy term on balance, Ii
qulre. Johnson, 1718 Nicholas'.
WANTED TO BORROW.
PRIVATE money, J500 and up, at 10
per cent and more. Flrat mortgage b:W
homes 6 per cent and .share of building
nmfitn 4 to 8 ner cent more. Write me at
once and will explain fuliy to anyone's
satlslacllon just now i mn uu 11. u
references and am responsible. Addrt"
O lx, care uee.
WANTED TO BUY.
HUheat prices paid for furniture. DM.
VANTED-600 CARS SCRAP IRON
IIIQHEST PRICES PAID FOR RUDDER
AND METAL.
CASH paid promptly upon receipt.
WRITE for prices and shipping toss.
EONK13N GALA M DA IRON It METAL
COMPANY.
(Largest dealers west of the Mississippi)
Kansas City, -Kan.
LIVE STOCK MARKET Ofr WEST
rhtt live stock to South Omaha. Save
mileage and shrinkage. Your consign
menu receive prompt auu iwu
lion.
Live Stock Contmtsslon Merchant.
MARTIN DROS & CO.. Exchange Bldg.
PeraUtent advertising la the' mre roaa
to business success.
LEGAL NOTICES.'
Election Notice.
January 23d. 191L
THE MSOUgouy.10 K1
Notice 1 hereby given that the annual
meeting of tho stockholders of the Mis
souri Paclflo Railway company will be
held at the general office of the company,
in the city of St. Louis, Missouri, on Tues
March 10. 1914. at 3 o'clock a. m..
p'ection of thirteen directors for
the ensuing year, and for the .transaction
f -ny other business that may come be
fore said meeting. ,The annual meeUng
of the directors will be held at the same
office on the same day at 12 f'lock, noon.
The transfer books will be clostj on Mon
day. February 2d, 19H. at 3 o'clock p. m.,
and will be reopened on Wednesday,
March 1U 11. 10 o'clock a. m.
Tha Missouri Pacific Railway Company.
Jn By B. V. BVSH.
President,
A. II. CALEK.
Secretary.
Scenes of Demonstration by Unemployed in
"',. 'r (Copyright, International News Service.)
WILL GRADUATE IN JOKE
Students at Commercial High School
to! Get Diploma? Then.
CLASSES COMBINE FORCES
r
Two una Ponr-Yesr Attendants
Enter Into Agreement to De
Known an the Jilnctecn-
Fourteen Seniors.
Arrnnnm.nti nr. nlrpmlv Yinfnir made
of thA TflnrU Rrhnnl stf Pnnlmnrce for thQ
graduation in June. The first steps to
ward a. class organization nave peon
taken, nomlnatlona having Been maue
tnr fin no nff1cirs. and nlans Havo been
laid which will take a more definite form
at tho next meeting. It has Wisely been
decided that two senior organizations aro
minrrflunua. nd so both the two and
four-year students haivo combined forces
lpto one 1914 senior class.
Thn,a uhn will cm dilate In June, pro
viding they aro able to keep their work
up to standard, -are:
Four-Year Seniors.
Ttmwn . Sam Llndell, Robert.K.
Davis. Miriam ' L.01i5y'.RuJh..v. a
Douglas, ivorena jucvrvii(
Uevereese, Paulino McCrunn. M jdrod
Poral, Rosa Nielsen. WlUlam
Oothneld. Edith M. Overman. Azelma
Goodland, Esther Rodgers, Marlon
Qreellng, Elmer E. Schellbcrg. Lillian
uustarson, JiaDet wnueiei, 2'.
mith. Leta Williams, Marj'
Jensen, Emll G.
Tiro-xesr ncmur..
Alexander, Ruth Lec. Clyde
Armstrong, Louis Luttbeg, Anna
Barry. Mary McQ rath, Dan ,
Bearnian.Bess McMullen, Bernlce
Bloom, Thyra MarowlU. Meyer
Boyle, May Mellne, Nellie
Brltton. Jane Moller. Florence
Brlggs, Phil Nelson, Verner
Brown, Adolph Nelson, Esther .
Boycc, Byron Nodgaard, Helga
Burns, Charles Noel, Leslie
'miirhiin. lruth Nordeen. Arthur
Chase, Mary . Paulsen, Ella
Chambers, wiiour i-oierson, ue
oiurk. olen Phelps, John
Cohon, Lenona SaraUelson, Llllle
Daliroke, John Samuelson. Alma
uanany, t.iuian mni nn
Dewey, William Singer, Dora
Fales, Helen Singer, Terr bs
F.Hmnn. itnv Hpencer. Rutlu
l'llnn. -Raymond 8tefan. Mary
aieason, uoy ctorros, juuiu
nruniwri'. Sutter. Helen
Hansen, Jennie Swanson, Louis
Jlokauson, uuiiora xeii, rtiva
Hostetter, WelllngtonTesar, Ladlslay
Ish, Ethel Thorn, arace
Johnson. Millie TleU. Clara
Kallna, Jennie TUor, Jennie
Kahre, Edna "Wulton. Meyor
Kllby, Dowey waiiiBirom, aiiiuiu
Kllllan, Anno Weaver, Walter
Kline; William Weeks. Carmllla.
Kuriinrz. Frank NVestersard, Helen
Long, Muriel Weckbach, Clara
Lyckhoim. Meivcrno wnueo, uons
Lawson, Ester Zerzan, Victoria
Lawrltzen, Anna
MRS. MUNS0N ADDRESSES
SOUTH OMAHA SUFFRAGISTS
Mrs. M. B. Munson; noted suffragist
from Kansas, addressed a gathering ft
h Knuth Omaha Stock exchango Satur
day afternoon upon the necessity of
woman having a ballot. The speaker ex
plained that since men In all deportments
nf xnmmeral&l activities have a right to
express their preference In the naming of
officials to conduct their governmental
business, so should women as the head
of the home also be vested with the same
privilege.
A delegation of suffragists from Omaha
attended the meeting and a number of
signatures were secured among the com
mission men.
James Murphy banqueted the women
members of the party after the meetlnr.
OE BEE:
Tickets for the - ;
Chicago Opera to
Go on Sale Monday
trudge McHugli, as chairman of tho
Omaha grand opera committee, announces
that tho committee has decided upon tho
scald of prices and tho conduct of tho
scat salo for tho Chicago Grand Opera
company's, presentation of "Thais" on
April 14. The prices range from 1 to $S,
on, both main floor and balcony.
Beginning next Monday, mall orders ac
companied by check, will bo received by
O. T. Eastman, treasurer of the Omaha
grand opera committee, care First Na
tional bank. These orders wU be filed
by him In the ordor of their receipt, and
filled before tho commencement of tho
public salo. The tickets .will be on sale
at Myer & Dillon's drug- store on and
after Saturday, April 4.
Assurance Is given that the cast for this
performance will be the aamo as that In tho
opera on the Auditorium stage In Chicago.
It will lie beaded by Miss Mary Garden
as "Thais," Hector Duf'ranno, the cele
brated French baritone, will sing tho part
of" Athanacl. Edmund Warnery, a well
known lyrlo tenor, will to the NIclas.
Gustave Huberdcau, the Palemon. Oth
ers In the cast will be Louise Berat, Helen
Warrum, Minnie Egener and Constantino
Ntcolay. Maestro Clcofbnte Campanlnl,
general director of the company, will per
sonally conduct tho performance.
Travelers Wqr!;in
For Big Convention
Omaha, the convention city, will en
tertain the national convention of th
Travelers' Protective association In 1915.
u a movement started yesterday by tho
board of the local post proves successful.
After launching the boom and dlaussng
it from all angles, a meeting of the board
and a number of other members of tho
post voted unanimously to recommend
that the post at its annual meeting March
2i start a campaign to bring the conven
tion here.
Between, 1.G00 and 2,000 prominent travel
ing men from alt parts of tho country
would como to Omaha for almost a week,
In ease tho. convention should mt tim
It Is understood that San . Francisco
would be the only rival of Omaha tor
tha convention and would probably lose
out because Us location is so far from
central and also on account of the ex
cesslve crowds which will trother th.r.
The matter will be finally decided at
tne 1814 convention to be held at Dallai
in May,
At yesterday's meetlnir A. n. itnno-
former president of the local nott. wn
recommended aa a candidate for the state
presidency of the order. The atat m.i
vontion wl)t be held at Lincoln. April 17
una lo.
Wuuonlnir Couirli.
"About a year ago my three boys had
wnooping cough and I found Chamber.
Iain's Cough Remedy the only one that
would relieve their coughing-and whoop
ing spells. I continued this treatment
and was surprised to find that It cured
the disease In a very short time," writes
Mrs. Archie Dalrymple, Crooksyille, Ohio
All dealers. Advertisement.
Persistent Advertising Is the Road to
Big Returns.
OMAHA, MONDAY, MAKCH 9, 1914.
New York City
Is Kutertnlnrd Hero and Spends
Day Cnlllnvr on Friends and
in Looking; Oyt'
the City
"Omaha Impresses me as a great and
prosperous city," sold Dr. I. Schwegel,
consul of Austria-Hungary,, to the Rocky
mountain states, after n brief polourn
here. Ho. spent Uie day visiting points
of Interest nnd calling oh iriepds before
leaving for Washington and the east.
"Unusual and unexpected r.lsna of pros
perity aro everywhere In nvldcneo here,"
he continued. "This Is the first time I
havo ever been In Omaha, and my Im
pressions of tho city exceed what I had
anticipated, although I have always heard
favorable reports."
While eating breakfast at the Henshaw
he was Interested In discussing the strike
situation among tho Colorado coal miners,
aa his headquarters la at Denver and
fully half of the miners are Slavonians
.from the southern part of Austria-Hungary
and of the same nationality as Dr.
Schwegel.
Dr. Schwegel was In conference early
In the week with Governor Amnions of
Colorado and members of the .'nvestl
gatlng committee of tho house of rcpre
sentatlves. Ho Is now going east In con
nection with business of his consulate,
and.wlll spend somo time In Washington
and' New York.
When serving at his first consular po,
at Chicago, ho had Nebraska In his dis
trict Since then he has been consul for
Austria-Hungary at Pittsburgh,. Montreal,
Winnipeg, Switzerland, South Africa,
Turkey and other places nerore inning
charge of the Rocky mountain consulate
at Denver.
He was entertained at luncheon by
Colonel 8. B. Curtis at tho lattcr's home
on Thirty-ninth street, and also called on
Victor Rosewater, Vac and.Lumlr Buresh
and others In the city hefuro leaving,
Frederick D.Milius,
Pioneer of Nebraska,
Dies of Heart Failure
Frederick D. Mlllus, aged 81 years, ono
. ... ninna.n in the state, died
at his home In Ralston Saturday morning
from heart failure. He was ncrn n
Hessen, Darmstadt, Germany, and came
. .,. iTni,i RtatfB in 1EC6. Caught ny
the tide of immigration, he made his
way to Omaha in 18B7 ana lor a numuui
of years was engaged with the Crelghtons
In the overland freignt Business oevwe-u
here and Denver,
Mr, Mlllus was married o Ida J
Twiituchke. sister of Julius Treltschke,
909 South Twentieth street, In 1857, and
took up his residence In Ralston m 1ST,
where ho had since lived. During ths
T,'Bir tornado the old home was do
stroyed, but a now one has since taken
its place-
Surviving the deceased besides the wife
are two sons, Oscar J. and Carl Mlllus,
nhn rnnduct a ffcneral store at Ralston:
two daughters, Mrs. A. J. England, Chi
cago, and Mrs. L. H. Leeder, 332S Lincoln
avenue.
Two Organizations
More for Auditorium
Two more influential Omaha organiza
tions have taken a stand for the propoie'l
purchase of the Auditorium by the city.
The Field Club District Improvement club
and the Association of Letter Carriers,
Branah CS, at meetings last night votel
In favor of the project.
The Improvement club, In the Field
club quarters, listened to Victor Parrlsh,
publicity manager of' the Commercial
club, when he explained minutely the
Auditorium proposition, and elected offl
cers. Mr. Loomis was made president
and J. W. Battln, secretary-treasurer. A
committee was appointed to wait on tho
school board to get a school house in
the district. Complaint was made that
children in th? Field club district have
to walk too far to get to school.
The letters carriers met nt the Swedish
auditorium. Sixteenth and Chicago
streets Mr, Parrish also spoke here. A
poll of the organization showed the bonds
strongly favored once more.
Conatluatlon Pulsons Ton.
Dr. King's New Life Pills regulates
your bowels, prevents Constipation and
stimulates the liver to healthy action
1 25c All druggists Advertisement.
B
AFFAIRS ATJOUTH OMAHA
Father Joanitii Wages Warfare
Against Saloons Near Church.
HAS WELL SIGNED PETITION
noard of Klrf nnd Poller ( uraralt-
i
Innrm Appenra tit Tako Notice
nnd l'romlirn 5me Hrllrf
for Altuntlon,
Rev. Georgo Joanltls, pastor of St. An
thony's Catholic church In South Omaha,
ha presented tho South Omaha Fire and
Police board with a petition said to be
signed by 400 women who want the num
ber of saloons In the vicinity of Thirtieth
nnd R streets reduced from twenty-five to
ftvr It Is nriMTted" by Father Joanltls
tint the people hi his section or the city
nre becoming demoralised by the pre
ponderance of thirst parlors In the vicinity
of his church. Father Joanltls asserts
that In on area of approximately 150
acre there are several school, two
churches, a cemetery nnd about twenty
five saloons. He says he has used every
means of obtaining the assistance of thn
police.
At a meeting of the Fire and Police
board Friday Father .loanltlR presented
his arguments with such effect that the
mnyor and Commissioner Devlne sat up
and took mora than customary notice.
The mayor asserted that ho had made a
tour of the suspected territory -at night
and was unable to discover any viola
tions of the liquor law s. The mayor said
he had ordered the police to enforce the
liquor laws, but It Is raid that some of
the police at least have maintained their
Inability to comprehend the alleged con
tradictory orders of different members of
tho board.
After a hot session the board, or such
of It as was sitting Friday, assured Rev.
Father Joanltls that tho petition was
reasonable and that, the matter of re
ducing the number of saloons would be
taken up.
In one form or another the matter of
reducing the number of saloons comes up
every year shortly before the time when
licenses are granted. Father Joanltls has
been making a stubborn fight to protect
the foreign colony under his care from
tho Increasing control and encroachments
of booze peddlers.
Miss Man and Money,
Mr. and Mrs. James Hoel of Benson
aro without a hired man and a team he
was sent to purchase Friday at the Union
stock yards. With the hired man whose
name Is said to be Ray Wilson, hos dis
appeared $32S. the property of the Hoels,
It Is claimed.
According to the Hoels, Wilson was
Bent into town Friday to buy a new
team of horses at the Union stock yards.
He was a trusted man and the price of
the team was given him ns he Jeft en-
ion. After waiting all Friday and Sat
urday the Hoels finally reported tho
missing man to the police. It Is feared
that Wilson may have met with foul
play or taken French leave with ths coin.
Magto City Gossip.
St. Martin's woman's auxiliary will meet
at the parish house, 2314 J street, Wednei-
uu J. uifcBdivuil,
Miss Nell llarrold Is recovering from a
serious Illness at her home, 931 North
Twenty-second street.
Office sDace for rent In Bee office. 5.118
N street. Terms reasonable. Well known
location. Tel. South 27,
Miss O race Yates entertained at a high-
five party Saturday evening. Three tables
were arrangeu tor tne piayers.
J. a. Sams of VUlscla, la, a former
business man of South Omaha. Is1 renew
ing acquaintances with old friends.
The DeLorah club were entertained
Wednesday evenlnc at the home of How
ard Eggers. Dancing was enjoyed. Twenty
guests were present.
The Rovnl Nelshbors will give a card
party Thursday evening at the Odd Fel
lows1 hall. Twenty-fourth and M streets.
Light retresnments win ne servea.
Washakie tribe No. 39, I. O. It. M., will
Initiate a class Monday evening at Its
hall. Pottawattamie tnoe oi council
Bluffs will put on the degree work.
The Alnhi Rebekah lodae. No. 44 of
South Omaha, will alvo a card Party
Tuesday afternoon at 2 o'clock at the Odd
Fellows' nan, Tweniy-iourtn anu iu
streets.
Mm. Ttnv Dennis entertained the Thurs
day afternoon Bridge Whist club Thurs
day at a 1 o'clock luncheon. Spring flow
era and St. Patrick favors wore used,
Covers were laid lor sixteen.
Mr. Charles Rlckabaush and Mrs. E.
P. Baker will entertain the Ladles' Aid
society of the First Methodist Episcopal
church, Thursday afternoon at the home
of Mrs. Rlokabaugh, 1408 North Twenty-
mini mrppr.
The kenslngton of the Upchurch lodge
No. 1 Den-reo of Honor, will be enter
tained Tuesday afternoon, March 10, by
Mrs. Ray and Roy Bernard at tne nome
of Mrs, Ray Bernard, 2425 I street. All
memners are requested to do present.
Mrs. Anna Bates, aged 39 years, wife
of Walter F. Bates nnd mother of eight
children, died yesterday at her home,
Forty-sixth and Harrison, of Pneumonia.
Tho funeral will bo at the residence Sun
day afternoon at 2 o'clock, interment
win De at Laurei inn.
Miss Ella Humnal. daughter of Mrs.
Joseph Humpal, and Mr, Porter Smith,
Doin resiaenu oi oouui umana. were se
cretly united In marriage by Judgo Hugh
McCulloUKh at his office Tuesday morn
ing at 8:80. The attendants wero Mr. and
Mrs. l. J, itrau,
Roger McElroy of the class of 191L
Photographs for
catalogue illustrations
Wo can offer you com
ploto facilities for se
curing thoroughly sat
isfactory cuts from pho
tographs for cataloguo
illustrations. Our pho
tographer knows just
how tho photograph
should hd taken.
If retouching is nec
essary, wo havo export
artists to hring out every
detail to tho best ad
vantage. We can likewise make
tho cut in our engraving
department, and oleotro
types for you in our
electrotypo department.
It is a great advantage
to havo tho wholo work
done in one establish
ment, assuring tho most
potfect results.
Our charges for this
work are remarkably
reasonable.
Bee Photo Department
Phone Tyler 1000
kouth Omaha High school, has accepted
a position with Henry Stanek at the lat
ter's pharmacy. Twenty-fourth and I.
streets. McBlroy has Just graduated
from the pharmacy department at
Cretghton university and passed the ex
amination of tho State Board of Phar
macists with flying colors, It Is under
stood. He resides with his parents at
Twenty-third and 1J streets.
TWO HIGHWAYMEN ROB
WOMAN OF A HANDBAG
Two highwaymen stopped Mrs. Al.
Broach. 3410 Jones street, last night at
Thirty-fourth and Leavenworth streets
and while one held her covered with a re
volver and threatened to ahqot If she
screamed the other took over her hand
bag, nhlohcontalned 5.S3 and a bunett
of keys.
WILL TALK ON HOW TO
SH00 THE WOLF AWAY
reasons Interested In how to prevent
themselviis from becoming poverty
stricken should attend a meeting to be
The Chicago. Rock Island &
Pacific Railway Company
Report of the Investigation of the Rock Island Lines
by the present management. ; .
' ' i
Naw York, March '8th; '1914.
MR. J. N. WALLACE,
Chairman, Bondholders' Committee,
Now York, N. Y. '
Dear Sir: - i
Replying to your favor of February twenty-sixth,1' which has ,
been carefully noted: '
On October 39th, 1913, the controlling Interests In tho,, El
Paso & Southwestern Company, having previously acqulro(a ' ,
largo Interest In tho Rock Island Company, entered upon the '
. management of tho Chicago, Rock Island & Pacific Railway Com
pany and placed mo in charge pt its operations.'. ,
During the past four months tho now management has mado
a careful Investigation of the physical and flnanc!l 'doridltlons
of tho property nnd has reached the following "concfulon8l the
figures being approximate: , .-''.
PRESENT CASH NEEDS ! '
FIRST: A very large sum of money- ostlmated to be in
the neighborhood of $20,000,000 will bo required by July 1st
next, to meet bonds and car trusts maturing, floating indebted
ness, Including $1,500,000 due to tho Railroad Company, and
Interest payments; to provide for Improvements, maintenance of
equipment and betterments, and to establish a normal' working
fund for the, Chicago, Rock Island & Pacific Railway Company,
the operating company. It is estimated that cash on hand and
net earnings for tho period vlll aggregate. $8,000,000, and the
management Is now applying for permission to make a Bhort,
term loan for $7, B00, 000 against securities in tho Company's
treasury, It la hoped and believed that such s. loaa can bo
secured, hut there will then remain $4,500,000 to bo provided
bctwoon now and July 1st, 1914. . ,
No provision Is made for the payment of the dividend due
May 1st, 1914, on the stock of tho Chicago, Rock Island & Pacific
Railway Company held as collateral for the 4 bonds of the
Chicago, Rook Island & Paclflo Railroad Company, due 2002, and
In tho Judgment of the managameat this dividend should 'not be
paid'. A statement of theeo cash requirements' furnished by tho '
Comptroller, aa of February 1st, 1914, is enclosed.
FUTURE REQUIREMENTS
8BCOND: In order that the Railway Company may be
operated to tho best advantage and produco the best results, an
expenditure of about $2S,Q0Q,000 will be required for better
ments and improvements during- tho next five years. This sum
should put the road in better shape to compoto successfully with
Its neighbors. -
The physical condition of the road la not by any means
what It should be to handle the business which is likely to be
offered when tho general business of' tho country revives, as we
hope and believe It will in the not distant future.
In our Judgment, however, the entire sum need not, he spent
Immediately, but should be spread in equal Installments over a
period of five years. If further euros can he provided for radical
revisions of grade and alignment, and for additional equipment, a
largo amount of capital could be Judiciously expended, and we
aro confident that results could he produced which would Inure
greatly to the benefit of tho stockholders.
The total expected requirements for five yoarBa'rer
Present needs $12,000,000
Betterments . '. . 25-,000,'(Joo..
Maturing Car Trusta , . 12,000,000 '
FINANCE ' ' '
THIRD: Against these requirements, the Company now
has treasury bonds of $16,000,000, and-wlH receive In. -five years
at the rate of $3,500,000 a year, $17,500,000 of 4 Refunding
Mortgage Bonds,
These securities should' have a good market if the credit of
the Company can bo re-established. The Railway Company holds,
$7,500,000 debenture bonds of the Railroad Company, duo Sep
tember 1st, 1917. This item is of uncertain value.
During the past twelve years, no money baa been socured
by sales of stock.. Bonds In the sum of $118,000,000 have been
tesued. since 1904, an Increase por mile of bonded debt of
$13,000, or from $23,000 to $36,000 a mile.
The total bonds- for which the Illinois, or old company, Is
responsible la $200,042,000. Its stock Is $75,000,000. $44,123,
712 worth of equipment has been purchased since 1005, and
there are outstanding car trust of $21,245,000. There Is no
issue of stock of any of the companies which can be sold at or
near Us par value.
The Refunding Mortgage prohibits further Junior mortgage
liens. The Company Is, therefore, Jlmtted, in borrowing, to the
' use of bonds now in the treasury, which aggregates about
$16,000,000 par value, the addition of Refunding Mortgage Bonds
of $3,500,000, till 1919, or tho sale of debentures.
The sale of the treasury bonds, It a fair price can be obtained,
which now seems Improbable, will meet claims to July 1st, 1&14,
but would leave tho company without means for further finance
after that time. Were it poeslblo to Issue further bonds upon
satisfactory terms, it would, In our opinion, bo Inadvisable, as .we
think tho limit of safety for bond Issues has already been reached
until the stock Investment In the property Is Increased. It Is,
therefore, our Judgment that a stock reorganization Is Impera
tive and is the only method by which the desired end can be
attained.
FOURTH: Unless some plan can be devised which has a
good prospect of accomplishing these results, and which Is fair to
all classes of security holders, Including the 4 Bonds repre
sented by your Committee, the management that I represent will
feel it inadvisable to continue In charge of the property.
FIFTH: If the expenditures indicated above are made and
a fair plan of reorganization can be devised which will provide
the necessary funds as needed, we have great confidence that the
property will produco satisfactory results, and that la tlm
substantial dividends can be resumed on a proper stock capital,
and the Interests of all he fully conserved. .
Yours truly,
T. M. SCHUMACHER,
Chairman Board of Director. 'fcv-
THE CHICAGO, ROOK ISLAND & PACIFIC RAILWAY C05D7ANH
held tonight at 7:i o'cloek at the First
Congregational church, when Laurie J.
Qulnby, representing the single taxers.
and W. E. Clark, Chicago socialist, wilt
talk on the subject.'. The symposium Is
under the auspices of the Chrlitlan Eu-deavorers.
MRS. SMITH TO BE H0STESS
FOR BURGESS-NASH COMPANY
Mrs. Mabel Uray Smith, 3804 Farnam
street, has become affiliated with the.
Burgcss-Nash company, and will act m
hostess to all women who patronise tha,
firm. Mrs. mltlt has lived the greater
part of her life- -In Omaha, attending.
Sacred Heart convent, and later gradunt
Ing from the Catholle school at Lake
Forest. 111. Sh will make It her busi
ness to sea that all women receive prompt
nnd courteous treatment while In Uv
store and will extend all her efforts to
ward making them comfortable. She will
devote most of her attention to the sec
ond floor where the women's suits and,
apparel are displayed because the per
centage of women Is larger on that floor
than on the others.