Indianapolis Journal, Indianapolis, Marion County, 2 January 1894 — Page 7

TTIE INDIANAPOLIS JOURNAL, TUESDAY, JANUARY 2, 1891.

7

THE STATE BANK TAX

How the "Wild-Cat" Institutions Were Wiped Out of Existence. Controller McCiiIIoch's Report and Subsequent Legislation by Congress Kcpeal of tlie Tax. Special to the Indianapolis Journal. WASHINGTON, Jan. 1. Mr. Henry II. Bmltn, Assistant llescls-trar of the Treason, ami forrr.fr journal clerk of th.e House for xniuy years, to-day gave your correspondent a:i interestir.tf review of the State bank question. InHrnians had much to do with the hittory of the ten-per-cent tax, airi for th!s reason ar.d the additional fact that tncj subject wii! come before Congress soon. Mr. Smith's remarks are of peculiar Interest. He says: In his annual report to Congress on the state of the finances, made Dec. 0. WA (second session. Thirty-eighth Congress,) refarrinij to the report of Controller of the Currency McCulloch. made under Section CI of the national currency act. Secretary 1'essenden said. "The statement exhibits a large and rapid Increase, and demonstrates the popularity of the system. The rapid and extensive conversion of State institutions of established character, conducted through a long series of years by men of recognized flna.nci.il ability. Into banks organized under the new system, could not have takiri place unless after full and careful consideration as to Its safety and superior advantages. If it should be said th.it perhaps these advantages may be rather to those Individually Interested than to the community at large, the reply is. that a single uniform currency, possessing the same value throughout the whole country, has been too long a general object of desire to have its importance questioned. "If to this great and obvious good be added the benefits to government, in its financial operations, of b-lng freed from all the uncertainties and embarrassments arising from a currency over which it can exercise no control, the advantages of any system which wili effect these objects can admit of no debate. The Secretary was not among the first to approve the plan adopted bv Congress, find which seems to be receiving the popular sanction. Time and observation of its effects have, however, convinced him that the system, if not without defects, is based upon sound principles, and is entitled to all the benefits of a fair trial; and it is quite apparent that the good to be hoped cannot be fully realized so long as another system, at war with th? great objects sought to be attained, shall continue to exist, unchecked and uncontrolled 'While, therefore, the Secretary would not advise the adoption of unfriendly or severe measures, likely to embarrass the business of the country, especially when the indications are so favorable that the national system will soon replace all of a merely local character, he is yet of the opinion that such discriminating legislation should be had as will Induce the withdrawal of all other circulation than that issued under national authority at the earliest practicable moment." The report of Controller McCulloch, made Nov. 2. 1861. stated that there were on that day in existence under the national currency act 58 i banks, with a paid-in capital stock of $109,000,001) and an outstanding circulation of $'6.0o0,000. After presenting some details and statements in regard to the conversion of State to national banks, the Controller presented objections to the Issue of circulating note3 by the government, stating clearly and with great force, the danger of excessive or overissues beyond the needs of commerce and trade, thereby enhancing prices and Inducing speculation, while at another time they might be so reduced as to embarrass business and precipitate financial disasters. jrcuLLocirs recommendations. Touching the subject of regulating the volume of the currency by preventing excessive issues of State bank circulation, Controller McCulloch said; "As long as there was any uncertainty In regard to tho success of the national banking system or the popular verdict upon Its merits and security, I did not feel at liberty to recommend discriminating legislation against State banks. It is for Contress to determine if there is any longer a reasonable uncertainty on these points, and If the time has net arrived when all these institutions should be compelled ito retire itheir circulation. "It Is indispensable for the financial success of the treasury that the currency of the country should be under the control of the government. This cannot be the case as long as State institutions have the right to flood the country with their issues. As a system has been devised under which State banks, or at least as many of them as are needed, can be reorganized so that the government can assume a rightful control over banknote circulation, it could hardly bo considered oppressive if Congress should prohibit the further issue of bank notes not authorized by Itself, and compel by taxation (which should be sulRcient to effect the object without bf.lng oppressive) the withdrawal of those which have already been issued. "My own opinion Is that this should be done, and the sooner it is done the better It will bo for the banks themselves and for the public. As long as the two systems are contending for the field (although the result of the contest can be no longer doubtful) tho government cannot restrain the Issue of paper money, and as the preference which is everywhere given to a national currency over the notes of tho State banks Indicates what is the iopular judgment In regard to the merits of the two systems, there seems to be no good reason why Congress should hesitate to relieve the treasury of a serous embarrassment and the people of an unsatisfactory circulation." Mr. McCulloch had been an employe and oillcer of the State Hank of Indiana frcm 1S.T1 to IS." 7. and president of that bank from 1SG7 to 1SCJ. On May 1V13. he was appointed Controller of the Currency under the national currency act. and resigned on March 8, IStiT, to Income Secretary of the Treasury-, succeeding Secretary Chase. The State Hank of Indiana has the enviable record of telng the only Western or Southwestern bank that did not suspend In the "crash" or "panic" of 1&17. nor did ft suspend in the crisis of 1ST)7. Under the superior management of Mr. McCulloch It paid annual dividends avenging from 12 to 11 per cent, annually, and also returned to Its stockholders nearly double the original Investment when it wound up at the expiration of its charter in 1S51. For the Jl.000,000 Invested the State received in profits Over $3,500,000. There facts are stated as Illustrating the difference between the two systems of State banking in vogue prior to the war, the "other side" being known as "wild-cit" b-n'--Ing, which had its perfect development lu the ud Joining Stat- ot Mifing,,,i, as . i.n.vri by the "History of Early Ranks and Banking in Michigan." by ex-Governor and exSenator Fe'.cli. of that Stote. On Feb. f.. ISC. Mr. Morrill, of Vermont, reported, from the committee n ways and meins. a bill (H. I;. 7M to amend an act entitled "An act to prolde internal revenue to support the government, to pav th interest on the public debt, and for other purposos" approved June r.0. lft. When that bill was under consideration. a the committee of tho whole, on Feb. K Mr. Hooper, of Massachusetts, (a member of the ways and mo.ms committer), offered an amendment providing that in liri of existing rate of dutv on circubitlon. thre should be b-vi-d. after Julv 1. a duty of one-qu irtor ,-f j per Vent, each month upon the average circulation IssuM Kr any bank. etc.. and after Jan. 1. IS., a duty of one-half of 1 per cent, and that "whenever the outstanding circulation of any bank. etc.. shall be reduced to an amount not exceeding 5 per cent, of th. chartered or declared capital, said clrnilritlon shall b? free from taxation." There was also a provision as to th circulation of State banks converted to national banks or nssume I by national banks. Mr. Hooper stated that this amendment had rxen prepare! with great care to carry out the recommendations of Secretary IVs-s-nden and Controller of Currency McCulloch in their last annual reports, and tint Its object was to put a tax upon the circulation of the Stat banks which had bc n conerted into national banks, or which had gone out of existent and their circulation assumed be the national banks, which should br suflicient to put a ston to th.-ir circulation, the object also being to bring Hi-out one system the country. of bank piper throughout j i:. WILSON'S VIEWS. Mr. Wilson, of Iowa (now Snutor). submittal a substitute for Mr. Hooper's amendment, embodying its substance, but adding a provision prohibiting Stat" bank.? or banking associations Trom Issuing notes for circulation after Avril 1. ISO.-, Mr. Wilson mated that, though he did not vole for the original national banking act. h. was in favor as it was now the established policy of the government of making it the exclusive policy of the country to far as banks Of Issue are concerned. Mr. Donnelly submitted an amendment to Mr. Wilson's substitute providing that Stato banks with a capital of less than should he taxed the same as national banks. Mr. Wilson opposed that amendment, snd old that the government having assumed

jurisdiction with reference of the country. Congress prohibit the States froin Issuance of bank notes as sary to preserve the value

to the currency h.i'l a rij?ht to authorizing the a means necesof the clrculatirnr medium authorized by Concrress. lie stated that his object was to "drive home for redemption" the issues of State banks. No action was had, and on the following day Glob. n. SZ2) the subject was resumed. Mr. Miller, of New York", thought the time was too short, and mowed to insert Jan. 1, ISO. Mr. James Brooks, of New York, defended the State banks which were rorn before the government. Mr. Dawes was In sympathy with Mr. "Wilson as to a national currency, but thought the rushlr.;? of capital into that system was not desirable. Mr. Kernan. of New York, was opposed to the pending amendments, and thought the federal government had no right to destroy the State banks. Another motive, he said, was to force a market fcr the sale of United States bonds required to secure the circulation of national banks. Amendments offered by Messrs. Morrill and Stevens (of 1'cnnsvlvaniaV. relating to circulation of con vert ed banks and the date to be fixed, were rejected. Mr. liolman defended the Bank of the State of Indiana, which on Dec. 21, !Sil, had nearly $,00j,0 in circulation, which it had reduced on Dec. 31. 184. to $1.500.0o0. and said the object was to destroy State banks for the benefit of the national banks. Various amendments were offered, agreed to or disagreed to, and the amendment of Mr. Hooper, as amended, was then disagreed to. Subsequently (Globe, p. SS0) Mr. Wilson, of Iowa, offered the following amendment as an additional section, whlcn was agreed to. viz.: "And be it further enacted, That every national banking association. State bank or State banking association shall pay a tax of 10 per cent, on the amount of notes of any State bank or State banking association paid out by them after Jan. 1, 1806." The vote by tellers was close, standing yeas 54. nays 62. and at the close of said day's session the bill was reported with amendments. On the following day, Feb. 18, the House proceeded to consider the amendments reported, and the said amendment substituted by Mr. Wilson was agreed to by the very close vote of yeas GS nays 67. Glebe, p. The affirmative vote was al most solidly Republican, while the negative vote, largely Democratic, included some twenty Republican members, principally from Eastern States, the New York members voting almost soldlly against it. Mr. James Brooks changed his vote in order to move to reconsider said vote, and on a motion to table the said motion Jlo reconsider the vote was a tie yeas, 71; nays. 71. Speaker Colfax voted in the affirmative, and the amendment was thus adopted by his casting vote. On Feb. 21 Mr. Sherman reported said bill from the committee on rinance, with amendments, one being to strike out Section 5, which was the Wilson amendment adopted bv the House. Senator Sherman stated that a majority of the finance committee were In favor of the House proposition, but thought it best to submit the question to the Senate. Senator Ramsey, of Minnesota, offered the Donnelly amendment in the House as an amendment to the section. Senators Hendricks of Indiana, Johnson of Maryland. Powell of Kentucky and Henderson of Missouri favored striking out the section. No Senator spoke in the negative, as Senator Sherman pleaded for a vote, on account of the fact that In two days the Congress expired. (See Cong. Giobe. r,o. 123S-12R.) At the conclusion of Mr. Henderson s speech a vote was taken on the motion to strike out, resulting yeas. 20; nays, 22. It was not a strictly party vote, several Re publican Senators voting yea, but no Democratic Senator voted in the negative. The Senators from Massachusetts and New York voted in the negative, and the act was approved March 3, 1SC5, this tax being Imposed by Section 6 of said act. 1,466 STATE BANKS. The original national currency act became law on February 23, 1863, but no circulation was Issued until January, 1S64. At the date of the passage of that act there were 1,466 State banks, with an aggregate capital of $405,000,000, and an outstanding circulation of $233,000,000. In 18C3 there was in circulation $312,000,000 of United States notes, $10,000,000 fractional currency, and $3,200,000 of demand notes, and about $23,000,000 in specie on the Pacific coast, or a total of $593,000,000. Under this tax the State bank circulation on Oct. 1, 1SC5, had been reduced to $79,000,00) and the national bank circulation had increased to $171,000,000. No recommendation was made either by Controller of the Currency Clarke or Secretary McCulloch, but in the next Congress (first session Thirty-ninth Congress) the committee on finance reported an amendment to the bill (II. It. 513) to reduce internal taxation, etc., and to amend the act of June 20, 1S64. and acts amendatory thereof, striking out all after the enacting clause of Section G of the act cf March 3. 1S05. and inserting In lieu thereof the following, viz.: "That every national banking association. State bank, or State banking association shall pay a tax of 10 per cent, on the amount cf notes .of any person. State bank, or State banking association used for circulation and paid out by them after the first day of August, 186G, and such tax shall be assessed and paid in such manner as shall be prescribed by the Commissioner .of Internal Revenue." That amendment was adopted without debate or division, and became the second paragraph of Section 9 (bis) of the act of July 13. 1806. (Stat, at Large. Vol. 14. p. 146.) The act of February 8, 1873 (second session of Forty-third Congress. Stat., Vol. 18, p. 307), again changed the phraseology as to this tax, Sections 10 and 20 reading as follows: ec. r.i. mat every person, firm. asso-asso-ciaticn, other than national bankintr clations, and every corporation, State bank, or State banking association, shall pav a tax of 10 rer centum on for the amount of circulation and their own notes used paid out by them. "Sec. 20. That every such person, firm, association, and also every national banking association, shall pay a like tax of 10 per centum on the amount of notes of any person, firm, association, other than a national banking association, or of any corporation, state bank or State banking association, or of any town, city, or municipal corporation, used for circulation and paid out by them." The bill in which these sections appear wa reported from the committee on ways and means on June I, 1S74 (first session Forty-third Congress), and passed the House under suspension of rules by a vote of yeas lod, nays 53, after a brief explanatory statement by Mr. Dawes, who sAid the bill was inn-nded to correct errors of phraseology and revise existing laws. No reference wan made to the matter of this tax and it was not made a mS quest on. Messrs. Cox. Morrison. Randall and Woo. voting ye.u Tne bill PVPe1 the Senate with amendments, and was postponed until the second session of that Con"".'wiie a nw on Feb 8 157 as .ni, iiu vcmg made in sMd tlons. S2C'lfl ,Rl-!!atl;" h h fcatl on this u7'.-- '" ecurm ia or ald act of Feb. 0. nj.v appears ns section 34L2 1. evised Statutes, and Station ?a no of the oiio. nevised stitnteT ThA ... . . . -. " o cfiort to rereal th!3 tax w mil f yer -1:2 thousands (Forty-second Congress), vhen of prlntel petit: on ffnt in, a:uii lorit citV) were rc Uw7 alinoFt every State praying for tha i n val of all taxes whatever on SUte and national la n kin g Institutions. On Feb. is. s73. Senator Morrill, of Vermont, from the committee on finance, submitted an elaborate adverse renort i hereon In that report th practice of getting iiri "machine-mruie" petitions was .harplv rltIe!ed. "Is it not apparent." savs Senator Morrill, "that the right of petition is cheapened when. Instead of being the spontaneous action f the people. It 13 brought into fre'iuent service under the spur of a system of recruiting a rents engineered, if not supported, by one common head enter?" The subject of taxation of banks, etc., vas aJ3cussecl generally, and the conclusion arrived at unanimously that no legislation was required on the subject. MANY REPEAL RILLS INTRODUCED. For many years past bills have beer, introduced in both houses of Congress for the repeal of this tax, but no action was taken thereon until the last Congros.', when bills introduced by Senators George. Harris and Vance were, on March 1. 1S32, reported adversely, the bill Introduced by Senator Oeorge (S. 2133) "to renc-al the internal revenue tx on the circulation of bank notes i-sued under SLrte authority" being placed 0:1 the calendar, with the vi-.v of the minority submitted by Senator Harris vfor senator anco. on April jr,. T.'.iit report dlcnse 1 e'.ilontelv the constitutional rlgM of the States to charter Kinks, anil cited the rises deMded by the Supreme ort of McCulloch vs. The State of Maryland. Rrhco- vs. The Rank of the Commonwealth of IC rtucky (11 Pete's, 257), .-rid .th.-- case. Alter stating that the tax equaled. If it til l not exceed, the full amount of the profits of banking, and that Its effect was to Immediately close nil jueh Stxte banks as bir.ks of Issue, the report edds that "It rr.u.-st be admitted that -uch was the Intent a:vl object." That wis the exact statement made by Senator Wiivon, the author of the law, in the House of Representatives of whk'h be wms th n a :r.f-mber on Feb. i;, lsOT.. nearly thirty yetrs ago. Another argument advanced In bfcalf of State bank circulation v.as that the expansion or contraction of nat! n :1 bark circulation, which it vjj asserted had taken place for financial as well as polplcal rui poses, would be impossible with State bank circulation. The dangerous results of th central-

the land banks," says the report. bas-l upon coin. and Issuing two ror ont?. wouia spriiio 1 -1 t m W all over the land, and keep their people supplied at a low rate of interest with a currency satisfactory to them: whilst the cotton of the planter and the wheat of the farmer would furnish all of their exchanges upon distant clties.'? The minority reiort was signed by Senators Carlisle, Vance, Harris, and Voorhees. Senator Carlisle adding the following statement: "I concur with th signers of the foregoInp minority retort In the opinion that the act of Congress Imposing a tax upon the circulation of State bank notes should be repealed, but I fizn not preoared to say that It would be advisable to establish and maintain such a banking system at this time. In my opinion this is a question which each State- has an undoubted constitutional right to determine for Itself, and I favor the repeal of the prohibitory tar In order that this ritfht may be exerclsd whenever the States may see proper to do so." Senator McPherson. it is understood, concurred in making- the aa verse report. On June SO. 1832, Senator Butler made an elaborate speech on the following resolution Introduced by him on Jan. 11, viz: "Resolved, That the committee on finance be. and Is hereby. Instructed to report a bill repealing all taxes on the circulation of State banks of issue." No vote was taken or reached on the resolution, and no further action was taken in respect to the bill named. A motion was made in the House of Representatives on June 6. 1892. by Mr. Richardson, of Tennessee, to suspend the rules and discharge the committee on ways and means from the further consideration of a bill introduced by him (H. It. 8.7)2) to repeal section 2412 of the Revised Statutes, which imposes a tax of 10 per cent, on the circulating notes of State banking associations, and pass said bill. The motion was supported by Messrs. Harter of Ohio, Oate3 of Alabama, Richardson of Tennessee, and Tracy of New York, and opposea by Messrs. Bacon of New York, Rryan of Nebraska, J. D. Taylor of Ohio, and Walker of Massachusetts. The motion v;?s lost by yeas 84. nays 113, three considerations specially 'operating to produce that result: First The Chicago convention was but two weeks off. and It was thought best to a wait the action of the convention cn that issue. Second The argument of discourtesy to the ways and mean3 committee wa3 quite potential: and 'Third Many votes, under the lead of Messrs. Tracy and Harter, were cast against the motion for the reason, frankly avowed by the gentleman named, that the bill, if enacted Into law. "would destroy the demand for the free coinage of Bilver." No Republican voted in the affirmative, while some sixty Democrats voted in tha negative. In his "Considerations on the Currency and Ranking Systems of the United States," prepared for the American Quarterly Review of December, 1S30, by Albert Gallatin, the constitutional powers of Congress on this subject are iuUy discussed. A no reference, so tar as I aave sen. has teen made in any discussion in Congreus on this subject to Mr. Gallatin'- views, expressed at the time the proposition was first made In Congress in 18i0 to tax out of existence the issues of Suite bank?, a brief extract from the Review article wili not be out of place. On this point Mr. Gallatin says: "Congress has the power to lay stamp duties on notes, on bank note, and on any description of bank notes That power has already been exercised; and the uutles may be laid to such an amount and In such a manner as may be necessary to effect the object Intended. This object is net merely to provide generally for the general wel fare, but to carry Into effect, in conformity wbh the last paragraph of the eighth sec tion of the first aiticie, tbote several and express provisions of the Constitution vhich vest in Conrfs-s exclusively the control over the monetary system of the I'nited States, and more paitlcularly th.xsc whjeh Imply the necessity of a uimunn currercy. "Congress may. if it proper, lav a stamp uuty on small notes which will put an end lo their circulation. It may lay such a duty on all bird; nots is iti-uld convert all the banks into b;nl . of i) 'count and deposit cMy. annihilate tne I'M er currency, and render a bank of fne United states unnecessary in referent lo that cl ;tct. Rut if this zst measure shotud 'e d emcd pernicious or prove impracticable Coiitfitss must resort to other and mder means t. regulate the currency of the country." (See "Writings of Albert Galla tin." By Henry Adams, Vol. 3. pp. 319, Tho original act of March 3, 18C3, and amendatory acts, imposing the tax of 10 per cent, on the clrculntlne notes of State banks, accomplished the purpose of its f miners. The entire amount of tax collect ed Is 1033 than $130,000, and fully establishes the fact that it is a prohibitory tax, as has been asserted and as was Intended. The largest amount collected in any one year was $23,723, in ItsO, and the smallest was $11. in 1S70, while in the years 18G6, 1871. 1SSG and 1S91 nothing was collected on account of this tax. A MKMOKY OF JCSSK JAMES. IIIn Dramatic Interview with Dick Stnpp Aoroj a Missouri liar. Correspondence of Kansas City Times. ; The suicide of Tobe Stann at Webb City. Mo., the other day recalls to State Auditor Van B. Prather a recollection of the suicide's brother. R. R. Stapp. notorious twentv vears ago as Dick Stapp. For a number of years Dick Stapp lived in the Short Creek lead mining regions. In Cherokee county, which is the home of Mr. Prather. Stapp became notorious in connection. with the Jesse James gang, and lived at Granby, Mo., where he kept a saloon. The James gang had designed to raid the money vaults of the Granby Mining Company, and they took Stapp Into the enterprise. At the same time thev planned the Ottervllle train rob bery. Stapp. who was a great coward. weakened at the last moment and told the officers of the plot. Afterward, at the trial of the only one of the Ottervllle robbers who was arrested, Starn was the principal witness for the State, and the man was sent to the penitentiary. Stapp was compelled to leave Granby by fear of assassination at the hands of his former confederates, and went to Short Creek, where he opened a saloon at Galena. Here one night when he was on watch alone a man wearing blue goggles and a slouch hat well down over his face appeared and called for a drink. It was given to him. and as he paid for it no said: "lour name is Dick Stapp. Do you know who I am? "I believe I do. replied stripp, at the same time reaching for his pistol behind the bar. "I am quicker than you are, as you ought to know, exclaimed th-? stranger, produc ing a 44 Colt from his overcoat pocket. "Rut I havo not come to shoot. This Is a mission of peace. I wnt you to be out of the way when we give ourselves up to the authorities. If you are not some of us will put you out of the way." "All right," said Stapp. With that the stranger wahced out of the house. It was Jes?e .fames. Soon, after that Stapo went out of the saloon business and engaged in mining, but he war, a consumptive, and a short time bofore Frank James surrendered he went to California, where he died, thus depriving the State of Missouri of the only witness who could connect Frank James with the Ottervllle affplr. A PliANTKirS TESTIMONY. He Says t'Kr'.s lni! the Rest ami Most New York Recently 't-.1m lTe Farm Hand. Evening Post. Mr. Alfred 11. Stone, of Greenville, Miss., published a paper on the sub ject or the negro iirorors o: tne ueita, a lprgo area of country at the mouth of the Mississippi given up chiefly to cotton plant ing, and in his paper he came to the conclu sion that the black P.eld hand was a failure. Mr. Stone therefore ad vise I planters to substitute for him the thrifty, industrious foreigner, such as the Italian, German and Norwegian. Against this view a protest is made by Mr. Hugh Massey, a planter of Friar's Point, Miss., who says: "Vers few intelligent planters in tne ueita. and perhaps none In this section, share Mr. Stone's conclusions. The negro is the most docile and tractable of all laborers, and under proper management the most contented and profitable. The thrlftlessnees generally as cribed to the negro laborer Is more the fault of the employer than the laborer. In the Delta especially the negro is required to cul tivate cotton almost exclusively. No diver- . 1 A.. I. 1 . siiv 01 prcniucis is encouraged, to nnv tho least of it, ami upon the result of the cot ton crop alone must the negro depend. The negro and his ancestors have been slaves for centuries, depending entirely ujon the management of the white man. His dependence In a great measure still exists: and until the planter learns the Important fact that his own prosperity, not to say salvation, depends upon diversifying nts products, trie rmorer. like the planter. will t generally thriftless. Allow and en courage the negro tenant to bo sclf-s.is taming as lar as practicable outside of his share of the cotton, and in a. little while r will approximate the prosperity or tr.c nanan tenant. Me is at the point where he requires encouragement anil aid in that direction. The vicious system under which he has been working for years has made him dependent In every .serine, and unless abandoned and a better system inaugurated m win necome an utter fail ure, as .Mr. btone seems to regard him now. Ribbon rosettes are the newest decoration for cushions and worK baskets. The pil lows are made of India silk In pale shades and are covered with a sheer piece of lawn embroidered with a border of small flowers, done in wasn shks. inis cover Is at tached to the silk cover at each corner by me nttie rosettes, wnicn can be made resemble double hollyhocks. to

Ization of the money power of were also suzrrpstEsl. "State

BIIUIN IS AN EPICURE

From a Juicy Tig to a Colony of Ants His Appetite Ranges. Keeps Well Posted on the Locality in "Which IIo Lives and Becomes a Practiced Forager. New York Herald. The American black lear has an appe tite that may be appropriately termed elastic. He will kill a thousand pound steer or capture a tiny field mouse for a meal with e.jual Indifference. If a pisr r ehcep Is not handy to his reach he will dine cn a colony of ants cr a nest of wood grubs. The bear has a comprehensive palate. There Is scarcely a thing in the animal or vegetable Mnstfora that will not tlckje It. He- is an amazing ar.d a diverting crea ture when out cn a day's or a night 3 foraging expedition. Thus he may know where thrre is a sheep in pasture, and has made up his mind that :t would be mere satisfactory t? him, If not to the cheep, if the latter were In his custody instead of cropping the perhaps Insufficient grass of the mountain meadow. Then he toes to that pasture, kills the sheep, skins it and takes It away. The best backwoods authorities declare that a bear can take the pelt off a sheep as neatly us a butcher can, and, as It Is not wool he Is after, but simply mutton, he does not see any point In burdening himself with a heavy fieece, and so leans It for the man whose proprietary interest in the sheep he Is transferring to himself. That Is, he leaves the pelt for the man if tha man Is not so inconsiderate as to Interrupt the bear before he has finished stripping it from the sheep. If the man Intrudes ho will lose the pelt as well as the mutton, for the bear doesn't want to hurt the man, neither does he ?atend to surrender the dinner lie cuiue to girt; so he carries off the shees. pelt and ail. and skins it when he eels home. urum likes pork as well as he does mutton. and always knows where no can get a fat, juicy pig just ror tne going after it. When ne reels that a bit of pig would set well on his stomach he wends nis way with de liberation and methods toward the sty cr barnyard, where the pig which is to supply the coveted bit has its domicile. The bear always goes at night, not that he loves darkness better than light because ma ways are evii, but Just because he is considerate. Such is the testimony, at any rate, of the backwooda authorities. The bear knows that If he goes after the pig any time during the day he will be apt to startle the "worsen folks" at the house, who are more than likely to be at homo alone, the men being . distributed about the farm at their work. More than that, he knows that the time of the farmer and his men 13 valuable. and that If he should make his call for the pig In the daytime the shrill ' and frightened cries of the women folks would be more than likely to reach the ears of the men, who would naturally leave their work and hurry to the house to see what the trouble was, thus taking much, valuable time from the farm work. BRUIN IS CONSIDERATE. So the bear goes at night after his pork. the backwoods authorities declare, and even then is singularly considerate of the farmer's peace and comfort. Nothing wdll arouse a farmer from much needed sleep quicker than the squealing: of his pig. The bear seems to- be aware of that, and to prevent the pig from making a Kreat hubbub and breaking in on tne weary farmer's slumbers, he grabs the pig around the snout with one paw and holds It tight shut, while he neatly dispatches the porker with the other. The pig is unable to squeal, and the considerate bear thus saves the farmer a lot of unnecessary ex citement and discomfort. It seems odd that a huge animal like the bear, able to skin a sheep, would bother itself about the tiny but Inert larva or the fragile eggs of a bird; but he does. There Is nothing more awkward looking than a bear In motion, with his hulking, ungainly gait, slouching along as if he could make no headway unless he had a wide field to swing himself In. Rut the most expert slack wire performer cannot surpass the graceful, sure-footed poise of a bear as he makes his nonchalant way outvon the bough of a tree, where he has discovered a bird's nest, from which he is bent on extracting the eggs. He picks the delicate little things from their cup-like depository as deftly as my lady'a taper fingers lift the bonbon from its satin lined box. I wish there was some evidence that the bear is as considerate in his treatment of the birds whose nests he robs as he is de clared to be of the farmer upon whose pas tures and pig pens he levies tribute. It would please me to be able to say that the bear appropriates only the eggs of the crow or the hawk or of other birds that are not In favor with the farmer an his friends. Rut such is not the fact. People who do not admire the bear say that the reason he is not considerate of birds lsthat they can't carry a gun. That may ba so. Rackwcods authorities do not dispute It at any rate. Rut it must be admitted that the bear r.-ill pPifer the eggs of the humming bird from their delicate, downy nest in the shady grove as promptly and with as little conscience as he will despoil the predatory hawk's scraggly and loud swelling home on the bleak and rocky hilltop. When a bear is raiding birds' nests or is after fruit in a trc-3 he projects himself about in that treo with a disregard fcr the noise he is making that is simply magnificent He crashes pnd smashes things. right and left, although a hunters camp may bt within a hundred yards of him and he knows it. SUCKING ANT EGGS. The big domelike nests of the red ant of 'he woods are familiar sights to all who ever roamed much In the forests of north ern Pennsylvania, There would be more of them If it were not for the bears. Frequcntly'you discover one of these big domes in ruins. These dismantled ant homes are reminiscences of bear. Rrailn Is ever on the lookout for an opportunity to not only depopulate an ant hill of Its present contin gent of busy life, but to destroy its future Importance as a prosperous colony. When he has come upon one of these hornet of the industrious ant he knocks Its roof off with one sweep of his paw. The Interior of that dome is a geometrical network of galleries radiating from one central chamber. When he has uncovered this busy Interior tne b'xir places his mcuth over the opening, and if there is anyone in the woods within an righth of a mil? of that spot he will have no dimcuity to hear what follows. In the custody of that unroofed dome are the countless thousands of plump eggs of that hopeful colony, each one as big as a grain of barley, together with the myriads of tireless workers. The bear, having fixed his mouth over the opening, draws his breath with a force that almost equals the draught of an air pump and with a noise that takes but little exaggeration to ccmr:re with the uttcrlngs cf a fog horn. Involuntarily responding to that tremendous inspiration, quiescent eggs and bustling ants shoot up the m?ny galleries Into the central one, and thence into Rruln's capacious maw. The bear seldom draw3 his breath mora than twice over an anthill. Aftr that the dome will be tenantless and its future gone. In the same way the bear extracts the larvae of the bumbl be rvnd yellow Jacket from their subterranean depositories. As a fisherman the bear Is an expert. He will stand in a creek or in the shallow water on the shores of ponds as still and solemn as a crane until a fish or frog swlm3 unsuspectingly along near him. Like a flash down goes one or his nig rorepaws. and It must be a lively fish that is out of the way when it falls. As soon as the fish Is caught the look of solemnity on the bear's face changes to one of pleasure, and he cither sits down In the water and eat3 his catch or wades nshore and devours it with grunt3 of satisfaction. No bee hunter can line and find a bee tre vMtu mor" precision than the bear can anu does, u nen he fin is the tree he 'imbs it, stopping every little distance to hammer on the trunk with one of his paws, so that he will know by the sound when he reaches the hollow place where the honey is stored. When this spot is located the bear scratches ond paws and bites away the wood until he has a hole big enough in the hollow stem to thrust bis pew In and reach the coveted sweets. He sops the honey out and licks it off his paw, and smacks his lips like a boy licking taffy. If It is warm weather, the bees buzz about his head and dig him with their stingers, but Hruln shuts his eyes and laughs and keeps on sopping up the honey. The bear has just as sweet a tooth for domestic honey as he has for the wild, and it is no trick at all for him to step into the backwoods farmer's yard and walk oft with a beesklp under his arm.

STEAM AND ELECTRIC

3i

Mfreight elevators

J

fir 1 1 , ,iA'rii

fS Now in uso by many of

O. R. OLSBN, Manufacturer. INDIANAPOLIS. IND.

I t lr

CDI 5 CIGAR JNO. FOIl TI1IJ rtK.MAU III'' 'lllti the resolution likelleMt to lie lnstlng: nml fnrtliost renclilnj; I a that which undertake to make ouIko lew tliuu Income. The life of kuoIi n matter, the thin? necesMary to Ktve to it the momentum required to keep it potent is the wine disposal of the Niirplus. TIIK IXUI AXA Till ST COMPACT offeri the highest nilrnntnge from every point of view for the Investment nml care of avlii;n. "With nn uiiftiirpitNMed command of the avenues of Investment, with facilities which itn corporate existence, form of ororganization and constant pnrpoKc Rive, it enn most ennlly anil beneficently place sums of varyinfr amounts. It will give its advice free at any time on all such nffnlrs and is con stantly ready, further, to undertake the active management of any form of trusteeship. rr Office 23 South Meridian Street. CAPITAL, - - $1,000,000 The Intoapolis Commission Co BROKERS. Grain, Previsions and Stocks. Quick trades. Immediate settlements. Commercial Club Building. Branch Denison Hotel. Tel. 1375. A DIVIDEND PAYER! The Gold Dollar Mining Company, OF CRIPPLE CREEK, COLORADO. Organized under Lws of Colorado. Capital Stock. trti.fr t) fhar-s. par valu one dollar, each. FUL.I4 1AI1 AM) 0.AfJ4KSSAIlIE. 1oO,IUO .Shares lu Trennry. The mine i located in the richest portion of the celebrnted jeoM producing district of Cripple Creek, and is held uruier a United States patent. Work is carried on day and nixht.andhigh grac cr is heinc taken out in large quantities. In January 1S14 th Company will "rect paylnar regular mouthly dividends the rate of J1 l,cr nnnnm on the amount Invested. II. II. OFFICEII, Sec. and Treas. A limited amount of the ahares are novr offered AT 50 CENTS PER SHARE . Stock. Prospectus and i-iperta' repor may bo OD tained from the banking houae of H. R. LOUNSBERY, C7 U HO AD WAY, SEW TOBE TWO FOOLS. An Election Ilet That Shown Neither Party to Advantage. Boston Traveler. A novel bet was paid yesterday, and of all the miserable creatures I ever saw the chap who was paying it was about as much to be pitied as anyone could be. He was a Thomas X. Hart man at the last election, and bet his friend that the Republican would be chosen for Mayor. In the event of his losing, however, be agreed to act the part of a dog for one day, for the winner of the waper, who made the same agreement should Matthews bo defeated. Ever since tho election the Hart man has been missing, but yesterday the other man caugnt him and proceeded to collect his wager. The luclcles3 chap could not pet out of it any way, ar.d his captor relentlessly began to put him through "a. course of sprouts." "Lie down, doggy," said he, and doggy lay down. "Now get up and Fpeuk, doggy," and doggy arose and yelped like a toy terrier. Around town, from one place to another, his merciless master led poor doggy, to the delight of an admiring crowd. At List it became dinner time. "I'm getting hungry, old man," pleaded doggy. "For goodness' sake, stop somewhere and get something to cat" "I'm not very hungry," replied the other, "but I'm not the sort of a fellow to starve my dog. ' Come in here, doggy." It was a butchers snop that they entered. "Have you any dog the storekeeper. "I.iet for my dog here," and it. "Here," said he to "Oh, come, old fellow." meat?" lie asked mo have a pound he actually bought doggy, "eat this." pleaded doggy, "let u; on this, its frone "Charge." cried the "doj Ions enough." s" owner. "If you're not quiet, doggy, i ll wnip you within an inch of your life. Come in here, now, for I'm going to get some lunch." So Into a cafe they went, and there the climax was capped.. The persecutor ordered a good meal, and tho "docgy" said. "I'll have" The other looked at him. "That," said he, "settles It. Now, sir, you get down under the table, where a dog belongs, and stay there." The last straw had fallen. Doggy arose, glared at his friend, and then silently reached into his pocket and pulled out some money, with which he settled the rest of the bet by paying the forfeit And he was no longer a dog. Live Stock Market. TAV YORK. Jan. 1. Reeves Reeelnts r for two days, .1,537. including 51 cars on sale. The market opened steady and fairly active, closing slow and a shade easier; native steers, good to prime, $4.75g6; medium to fair, $1.40(71.70; common to decent, J3.75fi) 4.C0; cows, $1.30fi3.70. Liverpool cables quote American refrigerator beef higher at scant 9c per lb. Exports to-day, C0U beeves, 2,2U quarters of beef. Calves Receipts for two days, 112. The market was firm and a shade stronger; grassers, !..Wi2.7r.. Sheep and Iambs Receipts for two days, 7,100; only lo cars on sale. The demand was a little stronger, with sheep steady; lambs Uc higher; sheep, poor to prime. WiP 3.73; lambs, common to choice, $ I'd 5. 37. Hogs Receipts for two days. 7,772, with few bunches on sale. The market was higher at $o.00t6.25. ST. LOUIS, Jan. 1. Cattle Receipts. 1,000; shipments, none. The market was steady; fnir to good native steers, $3tl.W; cows and heifers, Jl.75fii.C0; extra heavy, $3; fed Texas steers, $3fj'3.G5: grass Texas steers, $2.25'53; cows, Jl.752.25. Hogs Receipts, 2,200; shipments, none. The market was strong; top prices, $5.25; bulk of sales, J5$5.15. Sheep Receipts, 100; shipments, none. The market was firm, but sales light on account of meiger supply; mixed natives, $2.25'ii3; muttons, $33.5". EAST LTRERTY. Jan. 1. Cattle Receipts, 2w); shipments, 1,1 w. The market was fairly active and 10c higher than last week on all grades; 26 cars of cattle shipped to New York to-day. Hogs Receipts, 5,100; shipments, 3,000. The market was active; all grades, $5.45 5.0u; 12 car3 hogs were shipped to New York to-day. Sheep Receipts, 3.; shipments. 2.Gno. The market was stronger and VtC higher on good sheep and lamb.); common uncnanged. I'cnnloiiM for Veterans. The applications of the following-named Indiaiiians have bein granted : Origiul Dempster I. Machem. Lafayette. RenewalCarter Temple, jr.. Indianapolis. IncreaseSamuel Dickson, l'riam: William M. Barney, Elkhart. Reissue William E. Timbers dece:is:-l), Angola. Original widows, etc. Sarah E. Medaris, Jordan Village; Julia A. Houstcn. Ellett3vllle; Catherine J. Timbers, Angola; Sarah K. Webb. Orecncnstlf. Mexican war widow Jans Short. Vevay. To resident of Illinois: Original Ualnb ridge L. Cunningham, Sumner; decree A. Hayward, Mount Carmel. Additional Mason Huffman. Galva; Hcnjamln F. Grlgory, Reaver Croek. Renewal Rufus M. Patterson, Parkersburg. Increase George V Williams. Cartersvllle. Reissue Henry Chllds. Mllford. Original widows, etc. Amanda J. Elifritz. Jacksonville; Martha C, Atkins. Savanna,; Elizabeth Lewis, Ca3ey; Deborah 13. Baker (mother), YVauk-

IEINDIANATR

q

POWER tho leading manufactories IN THE MARKET MFR. BUSINESS DIRECTORY i MU.rTVC K- C. fc CO., M-iu ifad ir.-rs Ml J JLlV,li0 liepilreriof OIKOUL..VU, CUOS. CUT. HAND and ail other llltin Vrnflr WIiamIi an I W ailllS.ipiUe. V 1 Illinois ttroor, one sia&re south' Union .Static a. 0 4 UTO BELTING and nAVVnEMERY WHEELS KJX I I KJ specialties ot W. B. BARRY Saw Jfc Supply Co. 1323. renn. St, All kln.la of Saws Kc;Hre l. MTT T SUPPLIES AND ATT O JA1 1 JL JLt Opp. Union station V 1 .LvO S.wh, Beltln?. Kinery Wheel. Fils. Wwd aal Iron PuUeya, OH Cups and trvies, ltonrtni Telepnona 1332. TH M1LLEK OIL CO. - Nordyko &. Plarmon Co. Estab. 185L Foundersaai Machinists MUl and Elevator Banders. for mock yard. THEODORE TEIH, Buocessor to Win. G. Amlsrsoo. ABSTRACTER OF TITLES 8G EAST MARKET STREET. - ELLIOTT & BUTLER, . Hartford Bloct, Hi East Market Streot. ARR TRACTS OF TITLE. DR. J. A. SUTCL1FFE, Surgeon. OmcE-95 East Market Rtreot. ITours 9 to 10 . m.; 2 to 3 p. m., Sundays excepted. Telephone t 11. DR. AD0LPH BLITZ, ' Boom 'J, Odd Fellows' Dull-lias. PRACTICE LIMITED lO Eyc Ear and Throat Disoasos. DR. BRAYT0N. OF7IOE-I8 E. Ohio; from 10 to 12 ami 2 to 4. RESIDENCE 80S Kaat Washington stroat. House telephone 1J7 J. OKic telephone. DR. E. HADLEY. ' OFFICE ISO North TeausylranU .trt, RESIDENCE North DoiawanMtrast. Of!lc hours. U to U a. m.; '2 lo 3 p. m.: 7 to 3 p. in. Orrlo telephone, HU'l. Ho in telephone, TJ15. DR. SARAH STOCKTON, 227 NORTH DELAWARE STREET. DR. C. I. FLETCHER. RESIDENCE G70 North MertUaa street. , OFFICE 309 South Meridian street. Oince Hours 9 to 10 a. 111.; -'tlp. m.; 7 to 3 p. m. Telephones Office, D07; residence. 4 DR. REBECCA W. ROGERS, DISEASES OF WOMEN AND CHILDREN OFFICE 19 Marion Block. O'ttco Hours: '. lo l'i a. m.. - to ft p. in. Sundays: 2 to 4 p. m., at lie sidence, 030 North Illinois ctrert. opticians. FITTED GROUND vfevy?5A to (fl EAST MARKET ST-"' lliDlAMAPOLIS-IND 8AFK DEPOSIT. SAFE-DEPOSIT VAULT Absolute safety against Fire and HurgUr. Finest and only Vault of the kind in the State, rollceraaa Cay and night on guard. Designed for the s&t'i keeping of Mr.aey, Bonds. Wills. Deads, Abstraots tUver Plate, Jewels and xaluablo Trunks ud Pacfr es.eta S. A. Fletcher & Co. Safe-Deposit John S. Tarkington, Manaeor. SEALS AXD STEXCILS. SEALS' 4CILS.STAMPSJ vCATALOCUE free sad ces. checks &c kiTELI38S. 15S.MERIDLANST.Gaou.'Ofioc?t: lu: a ss roiJNjmy ANj fixi s h 1 sr. si ioi "uv'1i6riE Mfrs. ami Dealers in all kinds or Brass Goods, heirf and light Castings. Car Bearing a sK5ciilty. Rs Iairaixl Job Work promptly atwridod to. HJta lit iouth Pennsylvania street. Telephone tils. PYK-WPSCS. BRILL'S STEAM DYE WORKS. Portieres and Lace Curtains and Fancy Dress Qood cleaned equal to uew. an Massachusetts arenuaanl 15 North Illinois street. Indianapolis, Ind. DENTIST. E. E. REESE. 24 Hi East Ohio SU bet. Meridian and Ten a. ARTIST. W. G. PERKIHS, ARTIST, ROOM GO, PLAZA BUILDING. OfSce Hours 0 to 11 a. in.. 2 to 3 p. in. Instruction rlven to a limited nuinterof pupils la Free-hand Drawing, Composition anl Landscape Painting in oil. Scientific jnithod used. THE INDIANAPOLIS JOURNAL DAILY. SUNDAY AND AVi:i:KLY SEND FOR SAMPLE COPIES THE DAILY JOURNAL THIS DAILY JOURNAL THE DAILY JOURNAL THE DAILY JOURXAL THE DAILY JOURNAL ONLY IT CENTS A WEEK OXLY 15 CE.NTS A WEEK OXLY IS CENTS A WEE OXLY IS CENTS A WEEK OXLY 15 CENTS A WEEK THE DAILY JOURNAL THE DAILY JOURNAL THE DAILY JOURNAL THE DAILY JOURNAL THE DAILY .JOURNAL OXLY IT. CENTS A WEEK ONLY 1R CENTS A WEEK OXLY IS CENTS A WEEK ONLY 15 CENTS A WEEK OXLY 15 CENTS A WEEK THE DAILY JOURNAL THE DAILY JOl ivNAL THE DAILY JOIHNVL THE DAILY JOURNAL "V1E DAILY JOIRNAL OXLY 15 CENTS A WEEK ONLY 15 CENTS A WEEK ONLY 15 CENTS A WEEK ONLY 15 CENTS A WEEK OXLY 15 CENTS A WEEK THE INDIANAPOLIS JOURNAL DAILY'. SUNDAY AND WEEKLY SEND FOR SAMPLE COPIES ran; Martha J. Humrlchouscr, Kankakee; Nancy M. Gullctt, Lusk; Uetsy Li. aiasooc, Chicago.

A 1

P ,W InIianavU In-t. Roller rill W M MlU-OearioK. Belting. Boltinf f Gr cloth, Grain-c!oan1na: Machinery, x--. Mii dinsr Purirl-rs. Portable 3 v Mills, etc.. etc. Tako street cars

A