Richmond Palladium (Daily), Volume 32, Number 291, 1 December 1907 — Page 4
PAGE FOUR.
THE RICHMOND PALLADIUM AND SUN-TELEGRAM. SUNDAY, DECEMBER 1, 190T.
IRE RICHMOND PALLADIUM AND SUN-TELEGRAM. Palladium Printing Co., Publisher. Office North 9th and A Streets. RICHMOND, INDIANA.
PRICE
Per Copy, Dally Per Couy, Sunday Per Week, Daily and Sunday.
. 2c . 8c ,10c
IN ADVANCE One Year 95-00
Entered at Richmond, Ind. Postcfflce As Second Class Mali Matter
PREVENTION VS. CURE.
c
An ounce of panic prevention Is
irorth a pound of paDic cure. The truth of this Htatement becomes apparent every day as the true causes leading up to recent events that caus
ed ftticn a nurry m tne Kast ana a corresponding feeling in the West Come to light. In the first place the
chief ;ause of the financial flurry In
Kw York was caused by speculation,
rhich, as used in defining the bulk of
tho operations on the New York stock xchange, is but another terra for
downright gambling.
Stock exchanges have their Jegitl-
tnato place in the industrial structure Of th country. In tho case of stocks
llnd bonds of railroads and industrial Corporations they offer a ready means of determining tho price of any security and, moreover, they bring the buyer and seller together -with the least possible waste of time. In like mantier grain, cotton and produce exchanges are of great value in offering ft ready means of determining the price of those commodities. Such exchanges are always located in the great cities offering tho best facilities for carrying on the business of these various exchanges. Thus New Torti as tho greatest banking center Of the country, is naturally the location of tie greatest stock exchange in America. Similarly, Chicago, the greatest wheat exchange in America. On all exchanges the most important figures aro the speculators and, j contrary to the idea of many well meaning people, these speculators play a useful and important part in our national life. Their peculiar function fa to foresee the varying conditions of our national business and, as far as in their power lies, fix the prices of stocks and bonds or commodities accordingly. Those speculators who foresee conditions correctly naturally gain their reward by making money and those who aro not so farseeing, lose. In legitimate speculation tho lolses or gains of speculators have nothing to do with us. What one speculator loses another gains end no one but the speculators are affected in tho least. Unfortunately American speculators have over-etepped their bounds and have come to have the controlling voice In tho management of the great hanks of New York and to dictate the policy of many of our greatest railroads and industrial corporations. This function was never meant for tho speculator but for the more conservative business man. Therefore, speculation today instead of being an bb and flow of money between specu
lators has come to effect the business of the entire country and render it 1sb secure. The whole fight waged by our president has been to keep
these speculators within their lawful bounds and they, in turn, are fighting
to maintain their present great power.
The fight the president, backed by the
people, has been wagins has only snip
ped off some of tho outlying branches
of the speculators' power. Their
main stronghold as yet remains tin taken.
The speculators' greatest power lies
in their control of the great banking institutions of New York, the great
latitude they have in carrying on
stock market operations on slender
margins and their connections with men at the head of the government The money pilled up in the New York
banks instead of being used for leg!
timate transactions of business is
turned into tne whirlpool of specula
Hon, thus placing a heavy handicap
on the business of tho entire nation. For example. New York banks today owe the rest of the banks in the nation the staggering sum of ?600,000,000 and
by means of the clearing house certi
ficate plan are unjustly keeping al
that currency in their hands to aid the tottering structure reared by Wall Btreet's speculators. The retention of
this vast sum for speculative pur
poses is one of the chief reasons fur
the enormous contraction of business
even hero in the west.
The cure for this unjust condition of affairs is easy to pronounce, but it will
be harder than bringing the dead to life to seo it put into effect. In the
first place it ought to be made a pent
tentlary offense for any speculator to pell short, that is, sell something he
has not. In the hope that he ran buy :t
back at a much loer figure. The
speculator who does this is commonly
called a bear, and his greatest delight is in shattering prices. Short selling therefore, is simply allowing a reward to the man or clique of. men who can
bring about a reaction in any stock or commodity and doing this is generally accompanied by a serious set back to the country's business with the corresponding hundreds of thousands .f men thrown out of work. Restrict marginal transactions. By the present system of marginal transactions a man can put up with his broker $10,000 and the broker will borrow .!X,000 more from a bank in order to enable his customer to purchase a $100,000 worth of some stock. Tho customer risks $10,000 of his own money and the bank risks $00,000 of its depositors' money. This, of course, applies to the New York banks and not to our country banks that are far removed from stock market activities. Marginal transactions are not necessarily wrong, but they should so be carried on by law that a bank cannot loan more than fifty per cent, on the face value of a stock or bond and the speculator should be required to put up the rest. In this way the bank would be runniug practically no risk for its depositors. And last, but by no means least all the present gang of New York speculators should be ousted from the various banks tliey control and from the railroads and corporations also.
WAY TO AVOID THE TELEPHONE MICROBE.
JUDGE BARNARD ROUSES RESENTMENT IN WAYNE (.Continued From Page One.)
his last term. Whether he will support President Roosevelt in what is considered by some to be one of the crisis of the republic, that is, whether the government or the money barons shall rule the country, or whether on account of his well known affiliation with the Fairbank's machine in Indiana, the "whin" will use his influence against the president, and in favor of the corporations whim the vice president represents so staunchly. Both Mr. Watson's friends- and enemies agree upon one point in this relation and that is if he does show hostility towards the president his prospects for the governorship of Indiana will
go glimmering.
4 fr Dr. Yencer, one of Wayne county's
candidates for congress, is keeping
the public a great deal in the dark. How his campaign is progressing the breezy doctor has not yet designed to
state. Nor has ' he intimated yet whether he has really begun his campaign. Some of his friends, however, state that ho is out with the gummiest of gum shoes over produced in a gum
shoe campaign.
i Prosecutor Jessup has not yet been
able to get down to his campaign ow-
ng to his manifold duties. If they
continue much longer the prosecutor
will have to make one of the swiftest campaigns on record. '
. 4 Democrats in Wayne county seem
to be a unit when it comes to the
choice of the district chairman. They
are one and all for George Harris of
The ..r way to use the telephone and avoid the microbe. By placing the transmitter against the chest and talking in an ordinary tone of voice the person on the other end of the wire can hear you perfectly. It is not necessary to hold the transmitter to the lips. Try it and see.
Kill
LOSES LEAD
IN VOTING CONTEST
L. Ert Slack Gains Lead in the Hoosier's Primary Voting Contest.'
KUHN IS THIRD CHOICE.
THE! MOST HAVE
HEAVIER
ROADBED
There Has Been No Radical Change in the Same for Many Years.
WILL BE REINSTATED.
IF CONTEST- IS ANY CRITERION THE DEMOCRATIC PLATFORM NEXT YEAR WILL CONTAIN A STRONG LOCAL OPTION PLANK.
On the third ballot of the primary voting contest of the Hoosicr, the state democratic organ, the Rev. T. II. Kuhn of Richmond, who has heretofore been in the lead dropped pack to third place. L. Ert Slack of Franklin, took the lead with a vote of over a thousand in excess of his nearest opponent. Democrats in Richmond are especially interested in this voting contest,
Fountain City and the general opinion though they state the drop of the Rev. among all . good democrats is that in ' Kuhn from first place to third ha no the selection of this man a blow will ; special significence and that his ad-
PENNSYLVANI A EXPERTS TO
MAKE REPORTS TO HIGHER OF
FICIALS ON SATISFACTORY
ROADBED MATERIALS.
15c Bath Towel 18x32 in. fringed 10c
$1.50 Fleeced Wrapper $1.25
$7.50 Ladies' Cloak $3.50
8c Best Calico American or Simpson's 6c
$1.50 White Bed Quilt $1.19
Monday's Specials ATCut Price Sale THE
People's Store"
Big Day Moiuctay
AT
Cut Price Sale
Only 6 More Days
On to the Cut Price Sale Cor. 9th and Main
$1.50Couch Cover Oriental Patterns 98c
12y2c Muslin Bleach Soft Finish 10c $25 Ladies' Plush Jackets $18.50
7c Dark Color Heavy Outing Examine It 5c
$5 Voile Skirts Brown, Blue Black $3.98
'Tie
Peoule's Store"
Phone 1948
91h and Main
Open Evenings
ment drawn up between the G. It. & I. and the Erie several years ago, and before the inception of the C, R & C, the defendant agreed to pay for the work should the movement of t raffle past the junction ever demand that such protection be taken.
have been struck against "Boss' Bart and for cleaner pclilics.
Tag-
TWO DAYS OP FREEDOM
SEEMSJO SUFFICE
Moll Lewis, Character, Again
In Toils.
DRINK WAS HER DOWNFALL
"Out agin, drunk agin, in agin."
Moll Lewis, a police character after two days of liberty is once more confined in the women's prison at the
Home for Friendless Women. For a period of over twenty-five years Mori has been a familiar figure in the city
court. Only one charge is ever placed !
against Moll tfiat of x'ublic ' intoxication. But for her hard drinking she would be a good woman. She likes the life at the Home for the Friendless arid it is certain she wli? spend a greater pirt of the winter there. Moll was arrested on North F street Saturday afternoon by Officer Cully. She was beastly drunk.
mirers and supporters are enough to
land for him the democratic nomination. As to the state platform for democrats in the next campaign local option seems to be most favored. And. strange to relate, the High License plank and No Temperance plank are running a neck to neck race. The standing of the three questions that are now confronting Indiana democrats follows: For Nominee for Governor. L. Eert Slack, Franklin -003 Samuel M. Ralston, Lebanon .... 1 712 Thos. H. Kuhn. Richmond 163-1 Daniel W. Sims, Lafayette 151." John A. M. Adair, Portland 104 Thos. R. Marshall, Columbia City. 403 R. V. Miers, Bloominpton L'04 Richard K. Irwin, Decatur 123 F. M. Griffith 102 James McCabe. Wiliiamsport :. . . . 101 M. M. Hathaway, Winnamac 101 Benj. F. Shiveley, Soiuh Bend 101 F. E. Bowser, Warsaw 3 01 Wm. G. Zerface, Elwood 101 S. E. Voris, Crawfordsville 101
For State Chairman. Gilbert Hendren, Bloomfield 3737
John W. Kern, Indiananolis 1719 j
J. Kirby Risk,' Lafayette Stokes Jackson, Greenfield. . .
VETERAN RETIRES AT SEVENTY. Yesterday marked the close of the
active service or rat Mcuuire as an j engineer on the Grand Rapids & Indiana road, who is very well known in j Richmond. Mr. McGuire, who is one j of the best known throttle men in the ! employ of the road, has passed the sev- j entieth milestone of his life's journey, j which fact, according to the pension I rules of the company, makes it obliga-! tory that he relinquish his run and retire on a pension. The veteran engi- j neer, although he has seen hard life, j which is usually the part of an engi- j neer on a modern railroad, still looks ! as though he were capable of handling j a throttle for many years to come. The ! rules of the company are. however, explicit, and Mr. McGuire is not the first
man to be retired who would possibly be able to continue in the service for several years longer. The safety of the public, however, demands that no opportunity be given for a man to beffiTno nli-v-cir-all v unfit frr filitv lr:t 1 1 wr
discussed by railroad officials in con- he js retired on a pension
nection with the improvement program for next year, which is now being outlined by a number of roads, relates to plans for a beter roadbel. Faster train service, heavier freight traffic and the increased capacity of cars and locomotives are responsible for the proposed changes, and interesting announcement from railroad officials who have this matter in charge is expected. High officials of certain railroads hold that the steel rails and ties are not entirely to blame for existing conditions, and claim that tho roadbed in many cases should be rebuilt. ! Last fall some of the roads appointed special committees to experiment
with various kinds of roadbed, the j MA tests to be made during both winter (;iad summer. The Pennsylvania has;
been making a large number of teests !
with new roadbed along the main and j Hagcrstown. Ind.. Nov. Mrs. branch lines during the past year. This .John Tcetor and inoihor. Mrs. Lydia
Dark. Days Arc Here... Now is the time for FLASH LIGHT PHOTOGRAPHY. We have all the requisites. Booklet on Flashlight. Portraiture tree. W. H Ross Drug Co. 804 MAIN ST. RICHMOND.
Satisfaction
pgj for the whole family ij not no hard to
obtain if the customary beverage is Richmond Kxport beer. If you hav not tried ! do so at once (beet way Is to orde- a case this day) 'and you'll find that it tastes good and is good, tested by all pure beer standards.
Minck Brewing Co.
WAYNE COUNTY RICHER
Gains $6,843.90 From Tax Ferrets.
Wayne county is the richer by .s;
oj.;ix. realized from the collection of , delinquent taxes amounting to .It.TTT. I collected on property belonging to the 1 estate of the late John M. Westcott and : to Henry Gennett. These taxes were . brought to light by W. F. Charters, the tax ferret, who received ." per! cent, for his services, or ."',!.:5.'i.lo.
SHRDL
HAGERST0WN, IND.
work has Iiimmi in charge of experts and a report, is to be made shortly. It is claimed that the concrete roadbed be
ing tested in the eastern section is not. i
satisfactory and will not be recommended by the committee. It has been pointed out that while the weight and capacity of cars and locomotives have been greatly increased in the last ten years, practically no changes have been made "n that time in the roadbed, with the exception of more attention devoted to ballasting.
Howe, have gone to Bradncr. Ohio, to visit. Will Howe and family. Mrs.
Howe will remain for the winter. j Mr. and Mrs. Byram Eliott of Pitts-! burg. Pa., came Thanksgiving to visit j his mother, Mrs. Eliott and sister. Miss j Georgia Eliott.
Kirk Hughes spent Thanksgiving with his family.
One Car Fancy Indiana Homo Grown Potatoes and Onions For Monday only we will sell home grown potatoes, per bushel 7." r bushel lots or more, per bushel To Onions, fancy large, red, per bushel s." Fresh country butter, per pound 2" Fresh ground buckwheat flour, t lbs. and ii stamps :5 Home made apple butter, per lb V1V 1T lbs. Pride of ltichnpid, White Lily or Marguerite Flour 7 25-lb. bag H. and E. Granulated Sugar ?1.3r. Best Square Cracker, per pound, i C" A No. 1 good ginger tnap. per pound .." Fresh Oysters, per quart J0 Stamps with every purchase. GViODEL DEP'T. STORE New Phone 1838 Bell Phone 47 R No. 11 S. 7th St. Colonial Bldg.
Smith 8l Goodrich, Props.
Palladium Want Ads Go Into All Homes.
C, C. & L. TRAINMEN ROBBED. A number of robberies are reported
1520 to have been perpetrated on the C. -jQj.C. & L. trainmen during the past few
IMPORTANT COMMISSION ;
Adam Heimberger, New Albany.. 707 j W. H. O'Brien. Lawreneeburg -J'": W. H. Eichorn, Bluffton 101 i R. W. Miers. Bloomineton X . . 101 ! For Stat Platform. I Local Ontion Plank 2736
Hteh License Plank 2139
n Temperance Plank.. J 2121
Fronibition FianK bii
Rudo Fromme to Build Forest, GRANTED MORE TIME Trails.
weeks, articles of value being taken from their cabooses at the various stations along the line. It is claimed that last week while some Peru trainmen, a conductor and the brakeman were asleep in the caboose at Brighton, thieves enterer the car and robbed them of fifty-three dollars. It eeenis there is no hotel accommodations at Brighton, y which is true of
a numoer or other small stations along ' f 1 . O Tina C iVtA If.iin -rr fir Vfl t -
sleep in the caboose.
Rudo L. Fromme, son of Frank W. Fromme of this city and now acting superintendent of the Priest River National Forest in Idaho, has been authorized by the government, to begin the construction or more than 13S
miles of trails in its forest at a cost
Y. M. C. A. Contractors Given
Extension.
DECATUR TOWER OPERATING. The tower and interlocking plant governing the movement of traffic oi. th Grand Rapids & Indiana, the Chicago & Erie and the Cincinnati, Bluff-
An extension uf time has been grant-j ton & Chicago railroads past the junced the contractors for laying the foui-' i:ou point at Decatur, Ind., has been
dation of the Y. M. C. A. building, s the officers of the association feel bet-
of over $ 3,000. This work is under- j tei" results will be obtained if the vork taken for the purpose of rendering is not performed too hurriedly. - The
outside walls of the foundation nave been completed and the remainder of the work will probably be finishf in about ten da if weather coitions
iar favorable.
more effective the work of safe-guard
ing the forests against destructive Ores and also for rendering the forests more accessible. The -work will be completed before next summer.
placed in commission. A suit is at present pending in the Wayne Circuit court through which the G. R. -v. I. hopes to be released from paying 23 per cent of the cost of the Installation o the new plant which latter obligation the road was put to through a decision of the s-tate railroad comtnisJoa eraJ days a;o. la an a-
OFFICERS DIRECTORS SAMUEL DICKINSON, EDWIN H. CATES, President. Cashier Union National Bank. u.ruBBf,. HOWARD CAMPBELL, HOWARD CAMPBELL, President Gaar, Scott & Ccv Vice President. SAMUEL DICKINSON, EDGAR HIATT, President Dickinson Trust Co. Secretary. JOSEPH J. DICKINSON, JESSE A. WIECHMAN, Mortgage Leans, )! Teller. SAMUEL W. GAAR, Cashier Second National Bank, ..r. - ct-i-m JOHN H. JOHNSON, f tilS SPLrOng Lumber and Railroad Tie Company henry c. starr, " Vice President Wisconsin Central R. R. f )f InVltGS JOHN L. FUPE, I Attorney at Law. P.W.SMITH, , j J jJ President First National Bank, Decatur, Ind. OMAR HOLLINGSWORTH, BUSinGSS Vice President Union Loan & Trust Co.