Jasper Weekly Courier, Volume 48, Number 29, Jasper, Dubois County, 30 March 1906 — Page 3

t

LLAPSE OF THE HOUSE OF CARDS

was Tl..

d a U :.

la M HH pr ibara newspapers MMkOMfl ehe hi

( tl

us roller. Traction

3

lanks called a loan '. bin o " be toM them la : au big. k m Wbaa the ba?.ke n fully demanded sv.r.tv tot the " i ' i i J - regit tend g rerameat Londa,

Decision of United States Supreme Court That Made Millions Melt.

FALL OF THE CHICAGO TRACTION SECURITIES

I inancial Knd of Construction of the Street Car System by That Master Financier. Charl es T. Yerkes-Settling of Franchise Question Causes Crash. BY CLYDE ALISON MANN

Flotation valuea Union Traction deal, values now ana net hr.nk- Y

.orth Chicago Street Ry "ion Traction. Pfd .... . rion Traction, Common

igo Consol. Traction bonds cago City Ry Total shrinkage

o Lege a lii ;se of cards capo and the W it Chicago aal a with gctitious rrnn v values, tangle of outiyieg electric lines. Th- : lag structure of Chicago t ra-- North 'j,uaf.) was str-ked heavily nrtties lame tumbling about and bonded liberally. During the of the financial generala of growth of each omiany Yerkes had Philadelphia an 1 N w York sold part oi hi- stock for many times ord of the I'nited Sta'cs .mi- the amount cd h its first investment cant Morgan. Armour, the was organized with .if corn Field estate, and Iba KlklBta-1 moo stock and of preferred fleet i ar tyadfcele and eta- sti. k. and it b-a.-d the North "hi $7.'..iX0,000 to real: what caco and West Chicago comnanies

Flotation Present Value. Value. Shrinkage. $16.750.300 $3.956700 $12.793,330 20.037.600 2.534.400 17.503.200 12.000.000 2.040.000 9.960.000 10.000.000 1.000,000 9.0OO.000 $58.787.630 $9.531.100 $49.256.530 6 750.000 4,050,000 2.700.000 51.330.000 27.9OO.0OO 23.400.000 $116.837.630 $41.481.100 $75.356,530 $75.356.530

dollar

Ws n the badfoOBI ail were sold, fwrki r . rj not at all how soon t public discovered that the talk aoout the &'. year f rani hi was but a fourIgab bluff Will il he had expert d

would l "called" some day. Tlie bluff uo? J a-t Judge Crosscup on Pie federal court circuit 1 at h. but he Patted .-' .it's BQpraaM court ailed it. an t did it In plain terms. ! The 99 year francbiae was the wind which had filled all the balloon: the sand on which had been bailded the house of cards marked with Yerki fm. if til millions.

The lay when Pnion Traction was Boated was a great dav in CbiraSjO The ernt rai mucb heralded from l Salle street and from the financial institutions of UM city, who had various interests In the mceeaa of Ytrkea' ureat scheme and combination. The public accepted it as the daw nine of a day when they would le released from a hated bondage of Charles T. Yerkes The uniting of the North and West traction interests promised

s f , on

I

in .moo;.- i t ni ' . i ne pi not Dtaoaoad Match and Rot k I Man solidation fame. U, i tbaai lusp

i in, d a panic irtikb rlo : the hieag. tttfk etchaaifji Necessarily, the story of t2 fffffgg of the n is -if Chicago Traction aecurlties la lbs story f Charles T. Yerkes, w!,. died December last, iu N w York, deserted by his second wife as he had h--n tiiaiiy years Isfort In Philadelphia, hy his first wife when he sraj sent to the pnnntury on a i tiarg of whi h bt lator was acBttiti I U. .vas a hroker at '-" und a laiiker. as hiti father before him. tiefor he wa ;'.. Ho spent i f-w years In Farao. N. 1). and St. Paul. Minn . before troing tu Chicago as a brok' r in 1883 But when Yerka has nold his "balloeaa." the latereat shifts to "th- ii s" who iniKht and held them ami who played i'h 'hem contentedly t first. Soon troubles bassa, and troubles thick ned with each month. The North Chicago and IVest i'hlcaso companies were not paid the rSSpe tive 12 and per i int rental moneys re juir I by the .. . th- $ .hi

tS

be ate of II

did DOl inchises

air a

nr

pen

il

ad

rat'v

The

an l ' nicaK'i dropped 2." er eat

iyi.TR tabic shows the losses, holders of 1'nion Traction com-

in This worked o avll he eoald c.-M-k-ay ly carry out his furthr plan Hy

sc- psyinc a divider 1 en the first divides I

i day he so encouraged the new sto !. hoi i rs ti,at h'-n he tot t c-r h r

stocks looked. aftr it was ai'. Blaeellaaeons ojectrlc compan.es be like boys holding the sticks of aold the lot. under the name of the M with only a shriveled bit of ' Consolidated Tra tion company. tO '.be at h end of each sti k as re- same Pnion Traction company, and s of the buoyant leftVtf they took bonds in payment Pond- looked ught from the efreva day bal- good to the pobllc and to Blair a Co .

of New lork. and irks p it away

ac. the shriveled bit of ruh- , for a cold day $" " "j0 more in a.sh oat .nillions. and the toys" and aecarttiea III llllhiaalrtW Those who He a No soid his in' - in the

... 1

in

to for the betterment of the street I guaranty fund proved almost a joke, car service, and the advent of the El an 1 Pnion Traction to kholder- were kins-Widen r syndicate into the street .paid only one dtVidead Piually recar operation In Chicago was wel-1 ceivers were appointed The Pnion

cornel from every hand. Even the Traction ami Ve-t Chicago companiej

newspapers, who had TerfcCS, serve! to aid

1 . f-n him

-':üng by 'heir

are in receivership now This was by

no means all Stockholders of the

publicity in the flotation of the trac- j West Chicago company sued the North flon stocks No eoadttkHM could be j Chicago company The city of ChiBaore aaeplcloaa lago sued the Pnion Traction conEarly in the day It wa learned that pany for $2. 1,000 and lastly poor the entire issue of preferred and com- I "at- service drove the people to elect mon stock had been underwritten; 'a mayor ptadfed to "Immediate inuthat Chicago and New York had been nicipal ownrsiiip." allotted 17,006,006 of the preferred and I This was in the face of the certaintv Philadelphia On the stock hat corrupt politics and the spoils exchanae North Chicago and West system would he made worse by put'bi i Voth move 1 up od the strength ling into polltiei the hundred tbowaeal of the general enthusiasm over th- street car employes, a certain HMMM Pnion Traction deal. No one sesmed , for machine control, disposed to delve very far Info the In- The street car service never waa aerworklags and inner secrets of the good during Yerkes' reign, but has Taction situation. For several days constantly grown worse In most sec-h1-eoatlaaed, and Yerkes" brokers ' tions of the city ly the deterioration haJ little dlmmlty In supporting the ,,f ,ars while litiaatlon on every hand iiarkc for the short period necessary absorbed the big companb.- TJje to i:'t Yerkes well out of cover. 1 nope of the pnbli were raised by the It wa but a month or two after the purchase la.t year of two thirds con flMfion that pries of the traction ' trol of the lllOO.OM af the CbtesVi nocks on the stock exchange began to j City railway stock at $2i0 a share by af To the public this was unaccount- i the Morgan-Fiehl-Armour syadlrate able: the insiders i l n iy had le- n it th i I islon of the supreme COttH sun to real ire the untenable founda- has depree Citv railway securities i on for the bit fanes af eteartttai nearly 10.90tjM$ and thrown 'he The Bfefear statute was already In 1 Morgan Kleltl lyadlcsb late a panic cation, and had been for .15 years, i of consternation for the City Railway and 'he possibility that the courts rumpan; - franchises are about to ex-

TH WrfQ'irtrD CJßL

srsrsM A&fCMFS miwr

0 fSfflCfZNCY CtfCAGO

might rule adversely to the contention of Y rke and his attorneys served to drive i he stocks downward day after dajl Six months after the flotation.

the prices were not much more than M

plre and the II blighted

h en

Facts Afcout Santo Doming.

Such is the present day situation at

own to the pablfc -tlmatei losses are

and

M Tn A cn S . sil hiel.t Kstate i: ' n Armour IT. WltCtMtl Snllcati R, ?. - wtdeaef Symlicste 12.7it.'' e pyramid of fictitious values in 1 Is a confusing tsngle of Imnd -bck issues of many companies. Ill general structure Is simply li $1.500.000 Yerkes in 1W. be X ,i th an 1 t lie Wi-sl i i ir lines, then horse car lines. Bade contract with himself to tru t them, with great profit in "e'-onst ruction. Many new lines built hy Teraee tbreagb many ompanies. Each company wis I snd tmnded for double or mop i a lue. attf fOtkaa Iiad the North Chi

l.ake St re t elevated railway and the Northwestern elevated sn 1 the elevated downtown loop for another $r..ooo.too. If hail tuki n Yerkes 13 years to

; r -ent of those at which Perkes had s.tnto IVmiingo It Is a Btaajaliceal seid his North Chi ago and West Chi- island, one of the beauty sjkiIs of the . aao street railways world, and has the finest dHaata SUM Everyone who crosses Chi ago from seen. It Is inhabited and misrule) by one depot to another In a Prank Parm a monei' l pup il iMon. whbh. in sn: alee bus. or who sends his hagcage ,if ni my virtues and abilities, is not. across in a Psrmalee transfer wagon, and I Hat never will be, of a type would be Interested to know that stronc enounh tad VtfBMMtt enough :o I'armale- was the man who secured ronjnd Its own destinies and advance naetment of the 9'J year statute which in the paths of civilization of its own has been so haportaat He was the initiative FVr Its own cood. in I for

original street car msn In Chicago back in the days when Lincoln and Deasdes were debating slavery ques tions snd muttering of war were

the pood tf the wtirbl In general. It should he runtrolle! hy a stroniter nation It knows this, and Want h if nation t bo the Pnlted S-a'e, Hnt It

rk out his well eflne. plan, all heard. The guns of the civil war were j aUpersttlous anil ses ghost- .md

n.it yet silent when the measure was ,v,0y always wear the Cerm.in helmet

framed whb h served Perkes so well N-ew England .Magazine

and other multi-millionaires so ill.

based on the problematical value of an

art of the Illinois legislature which was construed publicly by Yerkes to be a 99-year franchise but whb h he j nrnhtthlv fill l.e soil Sil his

holdings! to be the mere xtsaioa oftSe charter of th" company which wa granted the franchise

Carefully h- had Inflate I the balloon marked North Chicago Street j Railway until be sold bis -t k at j 125; per sbate It was quoted on the ! sto, k exchange the ether !y at $32 a share. tie filled the balloon laliele I "West I Cbleagl Street Railway Co. until he

"Uncle Dirk" Ogbshy was governor o,' Illinois, and he evidently saw the evils in It. for he vetoed the bill, but i was paiiad over his veto. Verkee teeed to flght. but thinus

,r" ceding too hot for him in Chi-1 that sh , in l$$t, eben be !eg;in Um final ballosjn blow Ing process. There wai !

. pen talk of lynching the aldermen if they ma le ccncesslona to Terkes. snd Baera than once Yerkes himself wn.s

It Tsks Two. "Why don't you ask her to marry en? You -an sun ly afford to marry n your salary ' "Tbat'l what I told tier but she said

iMildn't "- H eist n I'o '

Vr-iy Polif What would vuu i

ay If I

;ed

yoii She fofl don't upaos I'd be Ina-

ed H bb) ked the eye of one . polite enough to interrup yea, do yoal kl busine DM and t ailed the Yonkers Stat -i.iu.

CAST0R9A

For Infants and Children.

C ASTORU 'The Kind You Have

Bears the

m Signature

fi of

ASegclabk1 Prcparalionfor A similaiinU lite rotlandUoul:i Uii it io StJiQULte and Dowels of

Promotes Dicslion.Chivrriirncss and Kosi Contains neidsr Opium Morplunp nor Munrxal. hOT N ah t OTIC .

Atopr V tU W.7 EL PfTOUX

,;... Uf Jttutr .(mf - tiinn ...

Apprfecl Rcinedv fnrConslipa iion, Sour Siomach.IliatThxx Uurins .( ohvuImous lovrri h HCSS Mild Loss OF SLEP. Fac Sin ik Sißrvnlure of NEW YOHK

OvACT COPY Qf WRAPPC.

In Use

For Over

Thirty Years

G ASTOR f A

Tc Mirrava cot. nt vmmm cTV.

COMMERCIAL CULLINGS. Fwit7.erland'a exports of machinery am: implementa In HxM are va'.tiei at bout i,HiO.iu. Klectrical machinery an ! nutdiint'!, )i-ti for weavinu. i.nrtin and embroidering were ÜM principal items. As this Utile country b.u r.o inin or aatl, but must imp rt the heavy materials tv railroads, the exP"" itloa of maihinerv .-peaks srell tor

The or! iJc of bai

industrial skill, fbe American flnat - so i isy in 1 )." th: import M4s.00o.ooo

of Jl".:, 1,000, und over t ,000; at the same time of free fOoda am.uinted tt an et ess over P.'4 of i over P.'iKJ of ÜS,O0 those ln reass in amounted to $143,000,

a cording to the

n able

- '. I.i v. a confused

af: it will n oi v our bi.f and , tavh-eys,

jut there ni i more t hsi i vsi.j Yom oi m. ual apolofiai

rjiiiiiiiiiiiiiiiiiiniiii

4

H M

Nithinf knocks out snd disables like

povtrnmcnt report.

th- United States consumed last year about one-fourth of the sugar production of the World Nearly all the eunar trought into this couu'ry is pr -duead from cane, and the I'm'' i Si i: s consumes fully one-half of the cane auirar protluced in the world. Car.e y if i . is fornilnR at present a larger proir!ion of the world's sugar supp.y than durinR Itth-ltfl There has been a remarkable iaCreaae this year in exports to Jaaaa In ten months tin- a ports to Chtni hiv.. bsea pSO.OOO.OM, onaaaared witi f:'". last year, and to Japan the toial for the same time has Jumpe I from J.'J.'Hf.oiHt o 4f,000.000. our Ptcifir ferriaee to those countries is direct and Kurope . mnot hope to cornpet" with it iu distance anJ cheapOur foreipn emmerce of the rilndar year just closet! reached the gigantic total of fL'.M -. "" ."on, by far th larest year's business in the history of American foreign commerce, and 1,146, ."'Hi more than in KM. Th. balance of trade in our favor arising out of our foreign coUtmerce of ttdf was f 447.. :, and that for the Ust four years exceeds $1.71'.. .0.0, an a vc rag of almost f 436.000.000 a year, equal ; nearly 1.5hihhi a day for 30 Working days In each year. FOOD HELPS In Management of a R. R. Speaking of food a railroad man aya: "My work puts me out in all kin Is of weather, subject to irregular hours for nitifcs an 1 .::.; ;: i t eat a.. blade of food. "For 7 years I was constantly troubled with indigestion, caused by eating heavy, fatty, starchy, greasy, poorly cooked food, such as are most aci ! I - to nun in my bu inss. Generally each meal or lunch was followed by distressinu pains and burning sensations In my stomadi. which destroyed my sleep and almost unfitted me for work. My brain was so mud ly and foRiry that It was hard for me to discharge my duties properly. "This lasted till about a year ago, when my attention was calle 1 to (irapeNnts food by a newspaper ad and I rem inded to try it. Since then I have used Jrape-Nuts at nearly every meal anl sometUaei between meals We railroad men have li'tle chance to prepare our food In our calwvoses snd I find flrape-Nuts mighty handy, for It b ready cook I "To make a lmg -tory short. CrapeNuts har made a new man of me I have no mere birnln-t distress in my tomnch. nor any crtier symptom of Indigestion t nn digest anythlns so long as I rat flra.eNuts. and my brain works a ejeaffy tad n -irately us nn enqinerr's watch, snd mv oM nervous troubles have dl"rtp:re 1 enlircly." Nnme rlvn by Po-' im Co.. Battle Creek. M'ch There's a reason Read the little : . Tut Uoad to WnUfflH " lu ykg.

h Lumbago and Sciatica h

Nothirg reaches the trouble ss jv.y as

tb;c naajL

1 M St. Jacobs Oil

Known Iba world over as

JJ The Master Cure t for Pains nt Aches

Price. 25c. and 50c.

$16.00 an Acre

of arsTFii ud the amount mtitv f 'tnrr will realise from thrir wltrai ctop this

:r B'theU to the Acre Yiria of W heat.

tantl that hi wa af cn't man I rmrr a - v!t v ti.t hing, whee ibotM? who tl loaMl Ihr MO CTn Ihr i.orfttiiwiil -. no ban '.luJaljoiUiugat fiomtoto 1S

Ctimat- I v h vI coorru fot. railwar Cloac at liaoU, lasc low.

Sn1 for r-amphlet Aa:h Crntnry Canada" ( I n, 1 t man 1 if; '.r'ling rate, etc.. to Srrran.v 1 1 M-r n r tr I mmaanoi, Ottawa. (. sailltS.llI lolbt I " . fing aulhurtxetl iujJuo .reftiiTieiit Ageat : j aCsieieesi ItJWsiiaaia gaaaaaCttr. as C J in 1 eeiw tyjio. aws . v bums, tu.

For Sprains.Sfrains Cuts, Bruises r Bur ns At all Dmcteists

,,wtaj

mm

Tl

IIRKEP'S HEADACHE POWDERS O QUICKLY CURE HEADACHE. r NEURALGIA AND FEVERS 7 Prit I0. Thouvand uc and inderie ihtnt W.lii. tvv xm.. j : tea. svtti ivi SSaS