Richmond Palladium (Daily), Volume 33, Number 141, 5 July 1908 — Page 8

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fTAGE EIGHT. THE RICHMOND PALLADIUM AND SUTS'-TELEGRAjM, SUNDAY, JULY 5, 190S.

REASONABLE HAS BEENJECOVERY Henry Clews Says Trade Conditions Are All That Could Be Expected.

ELASTIC CURRENCY NEEDED BANK RESERVES ARE PILING UP, INDICATING NEED FOR CHANGE IN THE CURRENCY SYSTEM IN VOGUE. New York, July 4. The first six months of the year have closed, showing a degree of recovery from the October panic which fully equals, if not surpasses, all reasonable expectations. It has been a period of somewhat painful convalescence, but the improvement has been pronounced and substantial, and if sustained for the remaining six months of the year, will 0 far toward obliterating the effects of last year's disasters. Of course there are many unsatisfactory features still remaining; trade and industry are restricted, and more or less disappointment and discomfort prevail in consequence. Unfortunately it 'cannot be said that the process of readjustment is complete; contraction has been unduly severe in some directions, and very inadequate in others. Consequently the evening up process must still go one, and additional time will be required before conditions are restored to the normal. On the other hand, it is a matter of congratulation that some very imporant danger points have been safely passed; a political crisis has been averted; public opinion is becoming more sane In its attitude toward corporations, and all Indications point to the election of 'Mr. Taft as our next president. Business failures have been much less serious than at one time feared, and the credit situation shows vast improvement over a year ago. Financial institutions which fell under the strain of the panic have mostly resumed, end our banks, are as a rule now exceptionally strong. This does not by any means complete the list of favorable developments. So much liquidation and housecleaning have taken place that the financial situation has been greatly clarified, although frequently at the expense of losses and difficulties which naturally cloud the ; vision of those upon whom they have fallen with great severity. A great deal of the depression which now exists is confined to those who have yhorne the brunt of the panic. Those "who foresaw its coming, and trimmed their sails accordingly, are in a much more hopeful frame of mind, and confidently look rorward to a sure, if slow, approach of better times. In the stock market activity has been on a limited scale as usual preceding a holiday. About $lS(,to,oo are being distributed in dividends and interest payments, a fair portion of which will as usual seek reinvestment. Railroad earnings are in exceedingly "unsatisfactory shape, current reports showing very heavy declines; and in spite of large reductions in expenses net results are very disappointing. Many roads it must be remembered, have materially increased their obligations by the issue of new securities during the past year, and as a result feel the stress of hard times more keenly than they otherwise would have done. The crop movement has already begun. This will make increasing demands upon the railroads, as well .as providing a stimulant to other traffic. The most unfavorable feature in the situation is the crop situation; too much rain, and low temperature during the last three weeks having made corn very backward, and caused a decrease in acreage, in many sections. Our bank reserves are piling up rapidly, and have now surpassed the record, touching $400,000,000, or $120,000,000 more than a year ag.x This plainly illustrates the desirability of an elastic currency system, in which .we are sadly lacking. Our currency should now be contracting because it Is more abundant than needed. Instead it is expanding at a time when not wanted, because regulated by the bond market rather than by the demands of commerce and industry. As a result there is a tendency to Inflation, which is apt to retard rather than accelerate a healthy and permanent readjustment to new conditions. This over redundancy of funds is a more powerful element in the security market than is generally appreciated. Briefly, stocks are in strong hands, the floating supply is light, liquidation has been thorough, weak points have been thoroughly eliminated, and the big men find little difficulty in supporting the market against all attacks. Political scares and crop scares must be anticipated. There is also a possibility of labor troubles in the (event of an attempt on the part of the railroads to reduce wages, since it must be remembered that organized labor has not yet accepted its share of the business reaction which has lately fallen upon the country. But aside from these three danger points, there is nothing In the situation of sufficient Importance to counteract the Influence of an unlimited supply of abnormally cheap money, which is still the controlling element in the stock market. HENRY CLEW'S. - Jut Got It Out. "Why in the name of goodness," exclaimed a man to an acquaintance, 'do yon keep taking out your watch: Goinj to catch a train?" "Well, no," answered the other. "TY tell yoa the truth, I haTen't seen va? watch for a long time.

E SET OFF

BY THE LIGHTNING Seventeen Charges Fired in an Unusual Manner. Portland, Ind., July 4. The employes of the A. & C. Stone and Lime company's quarry, near Ridgeville, drilled seventeen holes in the stone during the morning hours, which were charged with dynamite and connected with a battery, after which the men went to dinner. While they were absent a storm came up and lightning struck one of the wires and exploded the entire seventeen charges, blasting out fifty carloads of stone and doing it more thoroughly tlian could have been done by the battery. Luckily no person was near at the time of the discharge, and there was no damage done; in fact, a decided gain for the company. N01ANA MEN ARE LAYING L Are For Kern for Vice President But Are as Yet Inactive. AWAIT 0W JUDGE GRAY. DECIDED THAT BEFORE THE INDIANA MAN'S CANDIDACY SHALL BE BOOMED THE OTHER MUST BE DECIDED. Denver. July 4. The attitude of the Indiana delegation or the part of it that is already here for the democratic national convention Is puzzling the politicians. The puzzle is this: John W. Kern, the Indiana man suggested for the nomination for vice pres-i'''--. is on the ground, ready, in a ri; way, to take the nomination, ami his state in postion to demand the nomination in case Judge George Gray of Delaware, refuses it. At least politicians seem to think that with Gray out of the way Kern would have as good a show as anybody else and, perhaps, better. And yet his delegation has not begun to fight. A secret meeting of those delegates who are here has been held and it was decided to wait until the Gray question is decided before doing anything for Kern. All Right in a Way. This is all right on the face of it, but the enthusiastic Kern men are arguing that the Kern boom out to be got under way at once if it is expected to accomplish anything. They point out that other candidates are working notwithstanding that they may withdraw in favor of Gray later. But some of the Indiana delegates are holding back. WAN! ROAD BUILT Receiver for Indiana, New Castle and Toledo Traction Line Needs Money. $450,000 IS SUM DESIRED. Indianapolis, Ind., July 4. The Union Trust Company, receiver for the Indianapolis, Newcastle & Toledo Electric Railway Company, has filed a petition in Superior Court for permission to issue receiver's certificates for $450,000 for the purpose of completing the construction of the road. The petition is the result of a report of experts employed by the receiver to make an estimate of the cost of completing the roadbed and putting on equipment. The experts calculated that at least $450,000 would be needed. . It is understood that the largest creditors of the company have entered into an agreement with the receiver for the completion of the work. Included in the petition made by the receiver is the notice that David M. Parry, Eli Marvin, William E. Stevenson, Eugene H. Bundy and Charles S. Hernly, who are interested in the company, have agreed to deliver real estate and certain properties held by them. These are described in schedules filed with the court. The Union Trust Company was appointed receiver of the company November 5, 1907, after a large part of the work of grading had been accomplished. Judge Lawson Harvey has not yet acted on the receiver's petition, but will do so soon under a special term of court. GLASS TOMBSTONES THE LATEST IDEA Pittstiurg Company to Manufacture Odd Markers. Pittsburg, Pa., July 4. A Pittsburg Glass company announces that it has received several orders and will begin at once to manufacture headstones of glass to mark graves. A unique feature of the new tombstones will be that there can be blown in the glass a photograph of the deceased person.

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PROHI DOCTRINES ARE EXPOUNDED

Sumner W. Haynes of Portland Addresses Big Indianapolis Picnic, HANDS OUT SOME HOT ONES IN COURSE OF HIS REMARKS HE ATTEMPTS TO SHOW THAT THE PROHIBITION PARTY IS SUPERIOR TO ALL OTHERS. Indianapolis, Ind., July 4. The prohibitionists held an all day picnic at Riverside Park today, the occasion being the opening of the campaign in this state by that party. Sumner W. Haynes, of Portland, candidate for governor, made the keynote speech of the campaign. He said in part: "In coming before you today as the candidate for the highest office in the state, being chosen as such by a party which for nearly forty years has Mood for, fought for and voted for the abolition of the beverage liquor traffic, I am sure that t am right when I say that we stand on a line of battle far in advance of that taken by the party at any time heretofore. "The platforms of the old parties fail to notice the prohibition party and their candidates, up to this time, have failed to show in anything that has been said by them that there is a party advocating the prohibition of the traffic. It is true, they are frightened about something. It can not be over the prohibition party, for is not that deadV It seems to me we have heard of the depth or the prohibition party every two years for the last twenty. Still there seems to be something about it that causes fear to some people. Nearing Point of Victory. "This great, determined and right eous army which, in principle, has never lost a battle, is nearing the point of victory. They are no longer acting gregariously, but are organized into an army with generals and captains, drilled for close warfare and as such have gained largely in confidence ith the people. "The day has come, in the whole country, when the people through the churches, the lodges, the business relations and corporations, have outclassed the liquor traffic and placed it among the immortal trades or occupations. "Some remarkable things have come to us from this long continued warfare. First we have a prohibition party, organized from the precinct up to the nation. This party for forty years has pressed upon the public notice the fact that the liquor traffic is a thing of evil in itself and has no right to exist by license or otherwise. Inn this it is in perfect record with millions of people the country over. Local Option Plank. "What of the old parties? Both for fifty years have favored the license of the liquor traffic and neither in all of that time has said one word against it. This year both parties provide for local option. They have been discussing in public as to the quality of the two kinds of local option offered, each claiming advantages to their own. For the purpose of our discussion, there will be nothing pained by a comparison. All who v.ant to take advantage of the option plan on this question, and desires nothing better, should figure out for himself which of the two is the better. "I would like to ask my opponents in the race for governor of the state: Are you opposed to the continued licensing of the liquor traffic, whether with or without the consent of the local majorities? Are you in favor of the absolute prohibition of the beverage liquor traffic in the ctate of Indiana? It is easy to answer these questions if you have any convictions on the subject. "But the republicans will say, 'We have one brave man in our party. He is not very popular with the politicians, but the common people are wonderfully taken with him and he is a great leader in his church organization.' I have had some correspondence with Governor Hanly on the subject and have been glad that I could commend his courage in tackling the hard things with such vigor and bravery. He boldly says that he hates the liquor traffic. "There is no question but Mr. Hanly is right in his hates. Has not his great church said that this hateful traffic can not be legalized without sin? Have not the courts charged crime, disease, poverty, misery and shame to this traffic? Does not common humanity cry out against it? Do not the prayers of the voteless mothers go constantly to the throne of the all wise and just God for the abolition of the curse? The traffic is wrong, morally, socially and politically. Hanly hates it so bad, yet is willing for any community to have it that wants it. As Watson says: 'If any county wants saloons it can have them, the republican party says so. " SOUTHERN PACIFIC MAKES BIG PURCHASE Harriman Road Contracts for 5,000,000 Bbl. of Oil. San Antonio, July 4. The Southern Pacific company has bought 5,000,000 barrels of crude oil at SO cents a barrel, for use in its locomotives on Its lines in Texas and Louisiana. The deliveries will cover a period of three

WHAT THE DEMOCRATS WILL DRINK AT DENVER - Bartenders Arrange Special List of Beverages.

Denver, Colo., July 4. At a meeting of the Denver Barkeepers" Mutual Benefit Association the following line of novelties in thirst killers for the convention was decided upon; Bryan frappe. - - Johnson Swedish punch. Taggart fizz. Sullivan flip. Gray lemonade. Murphy highball.. Mack rickey. Towns cobbler. McGraw julep. Mitchell sour. Bell Smash. Clark Howell lemonade. Clayton punch. McCarren old-fashioned cocktail. Chanler toddy. A dress rehearsal was had yesterday. Details will come later Oft. HIS CHILDREN Claims He Did Not, But His Friends Say That This Is Substantially True. HE WAS MUCH FRIGHTENED AFRAID THAT MME. GOULD HAD SENT FOR HER CHILDREN AND HE DID NOT WANT HER TO HAVE THEM. Paris,. July 4. The manner in which Count Boni de Castellane obtained possession of his three little boys from their tutor, Abbe Moise Caynac. in whose care Mme. Anna Gould had left them, is declared by the count's enemies, today, to be nothing short of kidnapping. An effort is being made to hush the matter up and make it appear that the trasfer of the children to the home of the count's mother is in accordance with the court's order and agreeable to all parties. The truth is that Boni forced the frightened tutor to turn the children over to him several months before the time set by the court for the children to visit him, and was prompted to Ihis haste by the news that his former wife had sent word to have the children brought to her in England, where she is now sojourning with Prince de Sagan. Under the court's decree the children must be kept in France, but Boni determined to take no chances on the law's delay and with a big auto he went to the hotel in Versailles where the children were stopping, loaded them into the machine and took them to his mother's house. Mme. Gould, it is believed, sent for the children to have them present at her coming wedding to De Sagan. The mother intends to demand their return to their tutor. May Never Marry. The Cri de Paris in an article evidently inspired by friends of Count Boni, expresses a doubt as to whether the marriage of Mme. Gould to Prince Helie de Sagan will take place and intimates that something is likely to happen to prevent it. The article calls atention to what it terms the reserved attitude of Count de Castellane and the boastings of Prince de Sagan. It recalls the recent interview in which the prince announced he would consent to live on $.'560,000 annually and expresses the hope that Mme. Gould's relatives will save her from an "unpleasant experience." HITS ROCKY SHOALS Bark of Love on Which Mary Mannering Sailed Is Wrecked. SHE SUES FOR DIVORCE. New York, July 4. That Mary Mannering has brought suit for divorce from James K. Hackett was learned today from Miss Mannering's counsel. Among theatrical folk rumors of such a suit have been current for several months. The summons in the divorce suit was served on Mr. Hackett early in June, three days before he sailed for Europe. Miss Mannering engaged counsel about a year ago, but the suit was not begun until it was apparent that there was no further hope of reconciliation. Miss Mannering and Mr. Hackett have not lived together for more than a year. At the close of her theatrical season a year ago Miss Manneringt took apartments for herself and when she later went on tour she left her child in charge of a sister, who came from England expressly to take care of the little one. It is understood that the complaint will name more than one co-respondent. Mr. Hackett first met Miss Mannering when he was leading man at Daniel Frohman's Lyceum Theater and was appearing as Bruce Leslie In "The Courtship of Leoni." They were married May 2, 1S97, hut the marriage was kept secret until the following January. For several seasons Mr. Hackett and his wiX were joint stars. '

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KiDNAPS

FOUR SESSIONS ARE PROVIDED

Committee on Arrangements Outlines Democratic Conh vention Program. SESSIONS BEGIN TUESDAY. NOMINATIONS FOR PRESIDENT WILL BE MADE ON THURSDAY AND THOSE FOR VICE-PRESIDENT, FRIDAY. Denver, July 4. The democratic convention program, as outlined by the committee on arrangements, provides four sessions beginning next Tuesday. This would carry the convention through to Friday afternoon unless a fight in committee or on the floor should prolong the deliberations. As has been already announced, it is proposed that an adjournment shall b taken immediately after the temporary organization is perfected, out of respect to the memory of Mr. Cleveland, althoufh this feature does not appear on the formal program. Program for Opening. The first day's order of business is as follows: 1. Chairman Taggart, of the national committee, calls convention to order at noon. 2. Secretary Woodson reads call for the convention. 3. Prayer by Archbishop James J. Keane. 4. Announcement of temporary officers agreed on br national committee. 5. Chairman asks for further nominations. 6. No further nominations, chairman puts question on agreeing to the recommendations of the national committee. 7. Chairman appoints committee of two delegates to escort Temporary Chairman Theodore A. Bell, of California to the chair. 8 and 9. Introduction and speech of temporary chairman. 10. Call of states for members of the following committees: Credentials permanent organization, rules and order of business, platform and resolutions. 11. Probable adjournment or recess. It is expected that the Cleveland resolutions as finally agreed on will be introduced just before adjournment. Nominations on Thursday. For the second session of the convention on Wednesday the program calls for the permanent organization, the address of the permanent chairman and the receipt and adoption of committee reports. The nomniations for president will be made on Thursday, and it is planned to adjourn after this is settled until Friday morning, when the nominations for vice-president will be in order. Provision is made in the program for the receipt of motions to limit seconding speeches to presidential nominations and to limit both nominating and seconding speeches for the vicepresidency. There will be no limit placed on the presidential nominating speeches. Settlement of Contests. The order of business arranged for the national committee calls for a de cided simplification of the method of disposing of contests. The contests filed are from five states and the District of Columbia. To hear the testi mony and determine the merits of these contests, it is stated that six subcommittees of five members each shall be appointed, one subcommittee for each contesting state. These subcommittees will meet simultaneously, and all will report at the same time at an adjourned meeting of the full committee. The national committee will adopte a memorial resolution to the late Senator James K. Jones, of Arkansas, former national chairman. Norman E Mack, of Xew York is drafting the resolution. The revised official list of contests is as follows: Xew York Second to Sixth districts, inclusive; Pennsylvania. First to Sixth idstricts, inclusive; District of Columbia, entire delegation; Illinois, First to Tenth districts inclusive; Idaho, entire delegation; Ohio, Ninth to Nineteenth districts, inclusive. SOMETHING SPECIAL For Tourists Campers Automobile Parties Fishing Parties Picnics and in the Home Call at our store and see them Bee Hive Grocery Co.

PdD IT MDW2

Burn Artificial Gas in an Artificial Gas Range. Do it now and watch your gas bill. Sec the Richmond Light, Heat & Power Co.

SAILORS

MORETHANTHEY CHEW Steps May Be Taken to Break Up Cigarette Habit. Washington, July -1. Tobacco chewing in the navy, is on the wane. In stead, sailors seem to be turning to ward cigarette smoking. The surgeongeneral of the navy in his last annual report said that cigarette smoking in th navy was becoming so widespread that steps would soon have to be ta ken to restrict it. SUNDAY OUTINGS. Pennsylvania Lines, July 5th. Round trip from Richmond to Xew Castle 75cts., Anderson OOcts.. Elwood $1. Kokomo $1.25. Logansport $1.50. Leave Richmond 9:15 a. m. 2-3t There Is no medicine e cafe and at the same time so pleasant to take as Dr. Caldwell's Syrup Pepsin, the positive care for all diseases arising from stsmach trouble. The price is very reasonable 50c and SI. THE REASON People list their properties here is because they are soon disposed of. GOOD PRICES are obtained for city property and farms. Farm Lands, range in number of acres from 5 to 500. Houses to Rent, Money to Loan, Fire Insurance, Life Insurance. NOTARY PUBLIC. Will Write Letters and Attend to Your Correspondence. Fitzgibboits NINTH AND MAIN

ROSS STRAW HAT CLEANER Restores Straw Hats to Natural. Color. PRICE 10 CENTS VV. H. ROSS DRUG CO., 804 Main, Richmond. Take a Kodak With You

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COR. 9tli and IVIAIISJ STREETS. FURNITURE BEDDING PICTURES

MEY LOANERS Are not all alike. Some make their money by taking advantage of the borrower's misfortunes. We have built up a big business by helping our clients out of . difficulties instead of inducing them to "jump out of the frying pan into the fire. We have the best class of clients in the city. Our rate is low, payments easy and business strictly confidential. We advance, money on salaries We also loan on household goods and office fixtures without removal and on jewelr.y watches, etc., left in pledge. Here are some of the terms of our new weekly payment plan, allowing you fifty weeks In which to pay off your loan: 60c is a weekly payment on a $25.00 loan. $1.20 is a weekly payment on a loan of $50.00. 1.80 is a weekly payment on a loan of $75.00. '

$2.40 is a weekly payment on a loan of $100.00. Other payments in the same proportion. If these payment do not suit you. call and see us and we will be pleased to explain other plans we hare. Mall or 'phone applications receive our prompt attention. RICHMOND LOAN CO, Established 1895. Home Phone 1545. 8. E. Cor. 7th and Main. Room 8, Colonial Bldg., Richmond, Ind.

Look for the Money Saving Green Tickets all over the store. The sale of the man, from thcimills. Tuesday, July 7 Store closedflYlonday. Railroad Store

INSURANCE.flEAL ESTATE : LOANS, RENTS W. H. Bradbury & Son Rooms 1 and 3,.Westcott Oik Moore &Ogborn Insurance, Bond and Loans. Real Estate and Rentals. Both phones. Bell 53R. Home 1589. Room 16 I. O. O. F. Bldg. Special Prices f on Our Display Stand Every Day. Backed Up With Four per cent Cash Coupons. PETER JOHNSON CO. MAIN ST.