Richmond Palladium (Daily), Volume 36, Number 268, 4 August 1911 — Page 4
PAGE FOUR.
THE RICHMOND PALLADIUM ABD SUK-TELEGBAM, FRIDAY, AUGUST 4, 1911.
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Office 7rnr North ttb end Palladium 4 tin.TlTm
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Office M: Editorial Rooms.
RICHMOND. INDIANA.
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RURAL ROUTSM
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SaUrwl at Richmond. Iwdlan. ?osl Ml second class mall mattes.
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I Tftuair T4T-T4I Marauett bulldUs.
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The Aaociatio el ! .
11 "l lean aotwuw" , -ISX) amined and cartohed to . r .:...l.llaa mi this dbo-
UcaUon. ThfifuroleirelU alaleed hm the AsUe report iilywiwMMl. Asswitiei of Anenoa Advertisers N. 169. Whitehall IMf. . T. CU
NEWS OF THE
I LABOR WORLD
1 Thirty-eight cents is the dally rate for blacksmiths in Shanghai, China.
President Lescuia of Peru has aiened
what is known as the Peruvian em
ployers' liability law.
San Jose, Cal., institutions that employ members of the culinary crafts
lhave been thoroughly unionized.
The twenty-seventh annual session
rof the Trades and Labor congress of
Canada will convene at Calgary, Sept.
On August 7, at Niagara Falls, the
("United Powder and High Explosive
worksrs of America will hold their
umnual convention.
At the next Dominion general electlen the labor party will have candidates la the field In every important city in aCnada.
A child labor bill recently passed I the Tennessee legislature fixing the age limit of factory employment at fourteen years, and only excepting; agriculture and domestic service. The last annual report of the Brothferhood of Railway Trainmen shows (that more than $2,000,000 was paid In death and isability claims by the orLgtnlxation during the past year.
"Arrangements have been made for the holding of a national convention of the unemployed at Washington, D. C, to be In session from September 1 to 4. Eads how of St. Louis Is the
Uiead of the organization.
' Stationary firemen' and steam engiinters employed by all the Minneapolis breweries have been successful in Uheir efforts to renew their agreements with the employers and to ob'tadn an increase in pay. ! The organization eommittee of- the (Minneapolis Trades and Labor assembly has recently succeeding In organizing a shoe repairers' union in affiliation with the National Boot and Shoe Workers' union. :The number of women employed in ! Germany according to the latest statistical reports is 9,400,000; In France, !6.$00,000; in Austria 6,600,000, and in England 5,400,000. The women are t employed in manufacture and trades.
The. wool growers of the .northern Rocky Mountain region have adopted the method of selling at wholesale direct to the consumer. They have established large warehouses at Chica
go and Omaha, to which the wool is
consigned.
8tatlstes complied by Deputy State Labor Commissioner Edwin V. Brake hows that 34,336 miners are employ 4 In Colorado. Of these 14,763 are working In coal mines and the remain-
Mer In the various metal mines and tails.
The Quarry Workers International ) union of North America reports that year effected new agreements which I run from one to five years, and with 'em Increase of from 1 to 6 cents per 4our.
This Is My 52nd Birthday
KNUT HAMSUN. Knut Hamsun, one of Norway's foremost living writers, was born August 4, 1859, In the parish of Lorn, in Gudbrandsdalen, Norway. His parents wore plain peasant people and his early opportunities to obtain an education were of a most meagre description. He was apprenticed to learn the shoemaker's trade, but he soon ran way and became In turn a dock laborer, a private tutor and a court messenger. He next took to travel, and became a stonecutter, a woodman and a road laborer. Arrived In Christlania, be devoted himself to study for a time but again the desire to travel overcame him and he emigrated to America. On this side-he became in a turn a (arm-hand in Dakota, a street-car conductor In Chicago and a lecturer In Minneapolis. He went next to Newfoundland, where he worked on the lonely fishing banks for several years. When he finally returned to his native land It was to devote himself to literature by putting some of his many Interesting experiences Into charming stories. From the first he met with much success. He Is the 'author of more than twenty books, novels and
plays, many of which have been trana-j seated into numerous languages.
The Maury Report????? When Mr. Shlveley, appearing as a stockholder and attorney for the water works, came to answer the questions which were asked him, be found himself in a very difficult position. For Mr. Shiveley advanced the argument that the increase in rates, (which he frankly admitted had been made all the way through) was Introduced under the theory that the company placed the Maury valuation on their property. Now, despite the weak retort that Mr. Shlveley made that the Maury report was the report of an expert hired by the city, Mr. Shlveley and Mr. Dill know that there is a remarkable coincidence in the valuation of the plant as made by their own engineer and the Maury report. And not only that but the company's own proposal is to buy on that valuation. , Mr. Shiveley evidently did not care to defend the Maury report or th report of their own engineer. At least he did not. He admitted that there was serious doubt whether the company was entitled to the $100,779.51 for "service pipes and pavements" ALREADY PAID FOR BY THE CITIZEN'S OF THIS TOWN. NOR DID HE TAKE UP AND DEFEND THE VALUATION OF THE PURELY IMAGINARY VALUES WH,ICH HAVE BEEN ADDED TO THE MAURY REPORT.
On this account none of the arguments of Mr. Shiveley or Mr, Dill bore upon the REAL QUESTION in the water works contract. FOR THEY ADMITTED THAT THE QUESTION OF VALUATfON and participation in the earnings were the reasons for the raise in rates. It will take more than the simple statement of Mr. Shiveley that Justice Brewer took into consideration the "going concern value" in the Kansas City case to prove to the CITIZENS that the city of Richmond is to pay for over a hundred thousand dollars worth of pavements and service pipes which the citizens have paid for privately and Individually. AND BEFORE THE WATER WORKS EVER FIXES THE VALUATION OF THE PLANT ON THE BASIS OF ANY REPORT IT MUST BE EXPECTED TO SHOW CAUSE AS TO WHY THAT VALUATION IS CORRECT. The time was propitious last night for Mr, Shiveley to go into this thoroughly even on the basis of what their engineer estimates their plant to be worth or on what they say is the same thing the Maury report.
Mr. Bavis and Mr. B. B. Johnson in further' analyzing the Maury report showed the entire leaning of the reports is toward the company. IF THE GOING CONCERN VALUE IS TO BE TAKEN INTO ACCOUNTTHEN THE COUNTER, VALUES OF DEPRECIATION ON THE PLANT AND THE DEPRECIATION ON THE VALUE OF THE CONTRACT MUST BE TAKEN INTO ACCOUNT. For if the company were to try to float a bond issue in the east we imagine that any representative of a bond house would find it a trifle embarrassing to explain that the CONTRACT HAS NOT YET BEEN ENTERED INTO WITH THE CITIZENS OF RICHMOND. IT IS BY NO MEANS CERTAIN IN OUR MIND THAT THE COMPANY HAS A PERPETUAL FRANCHISE. AND TO SAY THE LEAST IT IS A DELICATE LEGAL POINT WHICH IT WOULD TAKE LONG AND PROTRACTED LITIGATION TO SETTLE. CAN THIS BE OVERLOOKED IN THE VALUATION OF THE COMPANY'S RIGHT TO DO BUSINESS? AND EVEN ON THE PHYSICAL VALUATION OF THE PLANT THE DEPRECIATION CHARGES ARE BY NO MEANS SO CLEAR TO THE CITIZENS OF RICHMOND THAT THE MAURY VALUATION CAN BE ACCEPTED WITHOUT FURTHER EXPLANATION. Nor 'does this include the point that we have raised that the Water Works is including in its valuation the service pipes and the pavements which have been paid for already by the citizens of Richmond which amounts to over $100,000.
BEFORE THE COMPANY GOES ANY FURTHER THE MAURY REPORT EITHER OUGHT TO BE SHOWN CORRECT OR ENTIRELY THROWN OUT ON THE ITEMS THAT HAVE BEEN CALLED INTO SERIOUS QUESTION.
How Mr. Maury Arrived at the Valuation of the Water Plant In placing the value of the plant of the Richmond City at $700,000.00 Mr. Maury took the cost of reproducing the plant, July Jst, 1909, then took off $68,693.02 for depreciation and added $110,825.69 for good will or "going concern value." To this was added $10,000.00 for working capital. The items that are included in the $700,000.00 valuation that should not be, are service pipes that belong to the consumers, the cost of repaving the streets over the mains and service pipese and excessive interest charges; besides the fact that the amount charged off for depreciation is insufficient to cover that item.
DETAILED SUMMARY OF 1 HE COST OF REPRODUCING THE PROPERTY OF THE RICHMOND CITY WA TER WORKS COMPANY
Item , , Cost of Present No. Reproduction. Depreciation Worth. 37.' Preliminary Costs, Organization and Investigation $ 10,000.00 $ 1,088.00 $ 8,912.00 34. Real Estate, Water Rights and Rights of Way ,,.$ 37,400.00 $ 37,499.00 39. (b) Interest of Real Estate, etc, during 14 years' construction 5 per cent 2.805.00 - 2,805.00 THE DISTRIBUTION SYSTEM. 1. Street Mains and Pipes ..$120,368.70 $ 7,530.30 $112,838.51 t. Cast from Specials in Street Mains 8,684.06 503.68 6,180.38 3. Laying of Mains and Pipes .... 60,854.51 , 4,423.00 56,451.51 4. Extra for unusual character of excavation ; 3.555.76 284.90 3.260.S6 6. Pavements 37,184.16 2,690.63 34,495.53 6. Steam railroad crossings 543.00 31.49 511.51 7. Street railroad crossings 490.00 28.42 461.58 8. River, creek, sewer' and misc. crossings 3,620.00 181.00 3,439.00 9. Valves on mains 4.262.90 460.39 3,802.51 10. Valves on mains .. 919.50 91.95 827.55 11. Valve pits on mains 748.25 59.S6 6S8.59 "12. Fire hydrants 10,527.00 1,136.92 9,390.08 13. Service pipes 63,827.25 8,042.23 55,785.02 14. Services in rock (extra) 1,047.00 181.92 915.08 15. Pavement over service pipes... 11,804.30 1,487.84 10,518.96 DISTRIBUTION SYSTEM TOTAL ... .$328,4S6.39 $27,094.12 $301,342.27
RESERVOIR
16. The reservoir total $ 50,508.44 $ 3,737.62 $ 46,770.62 THE PUMPING STATION.. 17. The pumping station buildings.. $ 9,628.94 $ 4,099.37 $ 5.523.57 18. The smoke stack ......... 2,329.67 1,050.25 1,278.44 19. Main pumping engines ........ 32,607.50 5,869.35 26,739.15 20. Miscellaneous Machinery 835.00 8.55 826.65 21. The boiler plant v. . s 4,900.00 1,440.00 . , 3,360.00 22. Water mains pipes and appur- . .. tenances. ........ ... ....... 5,171e94 522.57 4,649.57 23. The coal track siding ... -. 4,090.00 609.QO ' 3,45L00
4,450.00 450.00 1,191.50
24. Residence and outbuildings .... 25. Improvements in station yard.. 26. Statien miscellaneous
THE PUMPING STATIONTOTAL ..... 65,517.55 THE WATER SUPPLY.
27. The Suction Well 28. The Collecting Well and Pipe
357.45
4,450.00 450.00 834.05
$13,956.12 $ 51,561.43
419.26 41S.61 1,885.95
Connections
29. Gallery No.. 1 and Pipe to Suction Well ,
30. Gallery No. 2 and River Con nections 4,994.75 31. Gallery No. 3 and Pipe to No. 2 3,351.13 32. Gallery No. 4 and Connection Pipe Line 19.S18.00 33. Cooper Well. 16, Syphon Line and Air Vale .42,731.17
THE WATER SUPPLY TOTAL$ 73,608.27 MISCELLANEOUS. 35. Inventory of Meters $ 33,176.70 36. Inventory of Stocks, Tools, etc. 9,172.19 38. Engineering IVi Yrs. Construc tion 6 ..: 30,531.76 39. (a) Average interest on 1 Yrs. Construction 2 24,418.76
57.S6 29.72 260.2S 649.33 40S.S4 2.279.07 5,896.00 $ 9.581.97 $ 7,564.29 . 3,150.88 2,520.02
COST OF REPRODUCING THE PHYSICAL PROPERTY $665,5S5.66 40. "Going Concern Value" or cost of reproducing the present business and income 110,825.69 41. Operation Capital or Bank Bal ance necessarily on hand to conduct business . . . t 10,000.00
$68,693.02
361.40 3SS.S9 1,625.69 4,345.43 2,942.29 17,633.93 36.S34.57 $ 64,936.00 $ 25,612.41 9,172,19 27,380.88 21.898.74 $596,S92.64 110,825.69 10,000.00
TOTAL COST OF REPRODUCTION -,..$786,411.35
$68,693.02 $717,719.33
Heart to Heart Talks. By EDWIN A. NYE. Copyright, 190S, by Edwin A. Nye
A HUMAN MIRACLE. Oh, do not pray (or easy llvas! Pray to be stronger men. Do not pray for tasks equal to your powers. Pray (or powers equal f your task. Then the doing- of your Work win not be a miracle, but you hall be a miracle. Phillips Brooka. What ought to be can be done. It can be dene only by working at the doing of it In the doing of It shall be discovered the power to accomplish. Which is the miracle Phillips Brooks speaks of. In the full exercise of one's faculties in attempting the difficult task one shall be surprised at oneself. An instance: A young man apparently could not learn mathematics. He did not like the study and dodged it. Then the miracle occurred. After leaving school he wanted to be a civil engineer. He bad a natural aptitude for mechanics, but could not study engineering , without mathematics. He took up the study again, beginning with the simple problems of mental arithmetic. Seven years afterward he entered the technical school fully prepared. In desiring to do and trying to do be found the power to da Another Instance: An impatient, restless, loud talking young woman determined to be a trained nurse, Her friends said she could never succeed. It was difficult almost pitifully difficult, but At the end of her hospital training she developed patience, poise, a well modulated voice, quiet ways. The will is king. Its tremendous, almost divine, power to urge the faculties of both mind and body makes It sovereign ever its kingdom. You can do what you ought to do if you heartily want to do it You can be what you want to be if you sincerely try to be. Desire, coupled with effort persist ent desire and persistent effort will accomplish the miracle. Choose, therefore, the difficult task and pray and work for the strength to do It The miracle will not be the accomplishment The miracle will bp you. z
making genius, who early Ju life got into the penitentiary for embezzlement. Afterward, going to Chicago, he made a big fortune in the street car business. His faithful wife stood by him when he was sent to prison. When he got rich be rewarded her devotion by divorce and married Mary Moore, a beautiful young girl aged twenty-
' three. He was then fifty.
The second wife was ambitious socially and hoped to be a leading factor in high life, but Chicago society deliberately snubbed and repulsed ber. She persuaded ber husband to move to New York. Yerkes built a mansion there, but the social doors would not open to tbe golden key. Disillusioned, embittered, Mrs. Yerkes shut herself up In the Fifth avenue palace. Yerkes sold his Chicago balding and went to London, where he made more millions in traction. His wife made a third essay to enter society, but in London, as in America, she was turned down by the smart set There "was domestic difficulty, and she came back to New York. Then Yerkes returned to New York, Where be died in great agony at a fashionable hotel. Mrs. Yerkes visited him only once during his illness, a few hours before bis death. . The story is teld that Yerkes died alone, his body being dumped Into a big laundry basket and taken by a freight elevator down to tbe under, taker's wagon. And tbe widow? When tbe will was read she was cut off with $200,000. Even the rich art gallery in the Yerkes palace was left to the city. And for years tbe widow spent money and energy trying te get her legal rights. Meantime she married "for Ioto" a young man named Mizaer, They lived together only one week. And a short time ago she died of nervous prostra tion, an old woman at forty, Never in her life did this woman get what she wanted. Why? Did It just happen so? No. The law of compensation holds. She violated the laws of love when she married for money and social honors. Note this fact; Even banded justice punishes in at least two ways: First By giving us what we went. Second. By denying us what we want And of the two modes of punishment tbe latter is often the lesser.
HER. r-UMoUrtENf. A great painting, "The Pursuit cl Fortune,' shows a woman on horse back, riding at breakneck speed to catch up with the goddess of Fortune. Behind her rides grinning Death. Which fitly symbolizes the eareer of the late Mrs. Charles T. lerkes. Yerkes was a . cold blooded, money
Oh! Ply Sore Feet
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Just one minute to rub on EZO and
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Here's a tip that will brighten up
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must have it in order to enjoy life.
EZo is a pleasant refined ointment
so easy to apply, no fussing around getting ready, and it stops the mis
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or callouses it's far ahead of any. thing on earth today. All druggists.
Egg Frappes, Buffaloes, Sundaes and Ice Cream Sodas, the very best, served at Price's.
CINCINNATI
SI. 40 Round Trip from Richmond " NEXT SUNDAY Train leaves 6:45 A. M.
"THIS DATE IN HISTORY"
-' AUGUST 4. : - V ; 125 Simon de Montford, Earl of Leicester, who founded - the - English house of commons, killed at the battle of Evesham. Born in France about 1208.1347 Calais, France, taken by the English after a yeas siege. r 15S3 Sir Humphrey Gilbert landed in Newfoundland and took iHfsesslon of the country in the name of Queen Elizabeth. 1701 A general treaty of peace wit the Indians was made at Montreal. 1759 The fort at Crown Point, N. Y., captured from the French. 1781 Isaac Hayne, a soldier of the Revolution, banged by the British at Charleston, S. C. 1792 Percy B. Shelley, famous poet, born. Died July 8, 1822. 1812 English defeated the Americans at Brownstown, Mich. 1816 Russell Sage, eminent financier, born in Oneida County, N. Y. Pied in New York city. July 22, 1906. 1835 The Jesuits expelled from Spain for the second time. 1886 Sampel J. Tilden, American statesman, died. Born Feb. 9, 1814. , 18S9 Special delivery letters distributed for the first time in New York; city. .
Pretty Near Right. Papa,M said small Harold, "why is it you say a long prayer and I say a short prayer?" "Because you are not old enough to learn a long prayer, Harold," he replied, "Oh," said the little fellow, -1 thought it was 'cause I wasn't big enough to be as wicked a you are." Chicago News.
Palladium Want Ads Pay.
We Can Sell You an Elgin or a-4 Waltham Movement in 20 Year FiHed Case at $7.00. Can you do 4 this elsewhere? O. E. -DICKINSON, Jeweler See Window
A DOLLAR SAVED IS A DOLLAR EARNED Buy Watch Now and Save the Dollar. O. E. DICKINSON, Jeweler See Window
DON'T FORGET That NOW is the time to protect yourself against loss by WINDSTORM8. Costs but littl. DOUG IN, JENKINS & CO. Room 1, I. Q. O, F. Bldf. Phone 1330.
DERMA VIVA, the Ideal Face Powder Makes face, hands, arms and neck as white as milk and does not show or rub off. Pimples, Blackheads, Freckles, Moth or Liver Spots cured in a few days. Have handled this preparation for years and recommend it. Price 50c.
LEO H. FIHE.
ADAMS DRUO STORE.
IMSUREIE. B. (MOLLEMG " -U, -l. I., .. .. t .... I ' 'It'.- ' . Fire, Life, Disability - Plate Glass. Wind Stora, Liability
'A -
About nine years ago the Perforated Pad Co., Wooatocket. R. I., covered their factory with J-M Asbestos Roofing. Recently they had an interior fire which burned almost through the roof boards, but the Asbestos Roofing was entirely unharmed didn't leak was aa water-tight after the fire as before, and what was more to the Perforated Pad Co.. this fireproof roofing prevented further spread of the fire prevented several times
greater damage. HI Asbestos Roofing is just at fireproof as slate, with none of the shortcoming of slate. - It is all-mineral. We us Asbestos as its base. Asbestos, you know, is a rock. This all-mineral Asbestos Roofing does not rot or decay doesn't go to pieces like other ready roofings. And it doesn't rust like tin. , . It is unaffected by acids, chemical fumes, gases or salt air. t And it is the only prepared roofing that never needs painting.
Write for Booklet telling mil mbut J-M Asbestos Roofing. ,
Jones Hardware Co.
1157
High Time Jt is that you were having sanitary plumbing installed in your home if it Isn't already there. Your health depends upon it and we stand ready to do it when we get your order. If you haven't the convenience of a good bath tub with hot and cold water, let us make you an estimate of the Job, as well as anything else In our line. We are expert plumbers and our charges are fair. Chas. Johanning
Ampst 'Qearamce. Salle - of Fupiiiiiiiiire
The bargains are here and are going fast Don't fail to take advantage of this sale. The bargains are great Big reductions on all new and second-hand furniture.