Rensselaer Semi-Weekly Republican, Volume 40, Number 16, Rensselaer, Jasper County, 1 November 1907 — Page 2

WEEKLY REPUBLICAN. «0. fl. IttAIEY, fd. and Pob. m RENSSELAER, - - INDIANA.

PORTO RICO PLEADS.

NATIVE THINKS CONSTITUTION SHOULD FOLLOW FLAG. Amalgamailon with Utlm* Infer Legislation—Minnesota rights to Regalate Railroad Pares. ' ~U? ” Porto Rico wants the American constitution as well as the American flag, and will not regard the United States as a just nation until it has the former as well ns the latter. This information was conveyed to the delegates to a conference of the Indian's friends at L/ake Mohonk, N. Y., in a speech by Jorge Bird Airas of Pajordo, Porto Rico. After picturing the woes of the Porto Ricans through inva- - aioa by the buccaneers, the French, and the Spanish, he said: “Naturally the native element never feared any wrong from a nation to which their eyes had more than once been turned in their dreams of liberty. Therefore, they accepted their fate aa Providence, But in the course of time, when they found that they were denied American citizenship, and that the nlmirtf n fltf wiia tfim'tiii'n sign ol'coßquest, or. perhaps, as an emblem of protection trnly, while the constitution had remained at home, depriving them of its benefits, a natural discontent began to awaken, and it must be said that it has not disappeared vet; and ..mU_ae£« dlB-_ appear until complete justice has been done. One of the arguments set forth by these who completely lack reason and seek some excuse for the abnormal situation which involves the present political status of Porto Rico, is the great difference which exists between the two people. A policy to hasten' the Americanization of the island is a great mistake. It is not possible that a country densely populated and having more than four centuries of existence can be changed in a sljort period of time. Why not let the two races intermingle? Let the two tendencies struggle and either one win or both be recast in one of new shape and character. The Xatih wit and vivacity, together with the tananif~xr oni) f nivtßi iha Atupr* IrliatU.V auti iUlt tyt tux' crut’ » lean, may develop a new type of which ihe nation may in the future have reason to be proud.” FIGHTS FOR RIGHT OF STATE. Attorney General of Minnesota Contests Fine of Federal Court. Attorneys Thomas B. O’Brien and George T. Simpson of Minnesota 'have filed in the Supreme Court of the United States a petition for a writ of habeas corpus in the case of Attorney General Young of that* State. Mr, Young was enjoined by the United States Circuit Court of Minnesota against taking any Action looking to thfi-oarrving into effect of the new Minnesota railroad rate law, and in the face of the injunction instituted a suit in a State court praying for a writ of mandamus to compel the railroads in the State to observe the law. Judge Lochrcn ttien summoned Air. Young before him and of SIOO on the charge of contempt ot court, placing him in the custody of the marshal until the fine should be paid. Mr. Young seeks to secure a release from this penalty. Child of Author Is Scalded. Lester Ford, the posthumous daughter of Taul Leicester Ford, the novelist, was probably fatally scalded at the summer home of Mrs. Ford's father, Edward 11. Kidder, at CUeshjuu, N. 11. A tub of hot water had been drawn for the child's bath, and before it had been cooled sufficiently the little one either jumped or fell “ into it. World'* Oldext Paper Quit*. The rekin Gazette, the world's oldest newspaper and China’s official bulletin for memorials and edicts, Jjias been superseded by a modern newspaper, which besides printing the memorials and edicts alsb will publish editorials. The first of the editorials significantly reviews the Japanese constitution and otherwise the paper shows influences. Vliioii Save* Eujeineer'* Life. A freight train on the Kanawha and Michigan road ran into a train on a siding at Tangville. Ohio. Edward I’orter, the engineer, and John Editions, the fireman,' were killed. Engineer Wallace Stanley, the regular engineer of the train, refused to take his run that cay, saying he felt a premonition of danger. Eiffht Hundred Are Idle. The steel plant of the United States Steel Cor [xtration in Columbus. Ohio, dosed down indefinitely Saturday, throwing 800 men out of work. The furnaces j will run long enough to convert the ore On hand into pig iron, which will be shipped to some other plant of the steel trust. Blk I-oa* in Nome Fire. Fire at Nome, Alaska!, enused a property loss of about s;{otVVxh The Second avenue office building of the Pioneer Mining Company, the best structure of the kind in the town, was among those dei atroyed. _ Hue Cathedral fur Baltimore, Plans have been laid for the erection of a Protestant Episcopal cathedral in Baltimore. Announcement to this effect was made by Bishop William I’aret of the diocese of Maryland, who said from 100 to 200 years would be required to build it. Snnltrat T.lner I* Floated. The steamer-Empress of China, whieh •auk at her dock in Vancouver. B. C-, Wednesday night, has been floated. ■lx Hundred Killed in Earthquake. The number of fatalities due to the earthquake in Calabria, Italy, is now estimated at GOO. King Victor Emmanuel has donated $20,000 from bis private parse, ■Srbich, added to the amounts givsn by Pope Pius and the government, brings the total of the contributions for relief work to $30,000.

BALLOONS IN RACE.

FOUR GREAT NATIONS VIE IN AERIAL CONTEST. “ •'T~ " (fins Teams of Leading Conntrtns si the World Race Amid tbs Clouds at 1 the International Airship Contest at St. Louis. - i ’ ** Nino mammoth balloons, representing four of the great nations of the world, started at St Loula Monday afternoon on a voyage which was expected to add an important chaptej to tha history of aerial navigation. The contest was known officially as the second International aeronautic cup race, and the prize, a massive silver trophy and $2,500 In cash, was to be awarded to the pilot whose skill and daring should land his car farthest from the starting point As the balloons were of similar design and material the race would go to the French, English, German or American aeronaut who was capable of taking the best advantage of favorable winds and who lost the least ground under adversity. ~— —~———— The race marked the entrance of the United States Into competition with the European nations In a field which had been left almost exclusively to them in the past It was through the winning of the cup last yeax in a cace from Parts by Lieutenant Frank P. Lahm of the United States army that the contest was brought to this country. The threo American teams are all that were allowed to enter under ■ the rules of tha competition, hilt so. great has Interest grown that the Aero Club of America, which was In charge, could have entered manytimes the number of balloons permitted. The average person who reads about

AERONAUTS OF FOUR NATIONS COMPETE AT ST. LOUIS IN GREAT AERIAL RACE FOR RECORD.

balloon ascensions has very’ little idea of the amount of moral and physical I courage it requires to remain up in ! the clouds after the first twenty-four I hours. The strain on the nervous sys- \ teto is something hard to describe until it has been experienced. One gets ! In that state where be can not trust I his eyes and frequently imagines be sees great bodies of water beneath him ! when he is hundreds of miles away from any coast. In a balloon it frequently happens that you see the lights of a city directly in front of you as yoif look down from the basket, and in a few minutes the city may have fal len squarely behind you. But that does not prove by any means that you have sailed ovgr-TL Oftentimes the balloon Is whirling around, and you seem to have swept over a town when in fact you may not have moved fifty yards Tn addition TO the International event, in which only ordinary balloons were allowed to compete, the St Loulf Aero Club offered $5,000 In other prizes to be competed for by any win had an air craft to enter. Irf this competition dirigible, or balloons propelled by motors, took part, as well as aeroplanes, or any other type o: balloon or airship that has demote •trated that it Is anything more thau «n experiment

TO PAY LOUISE'S DEBTS, QUEEN SELLS HER GEMS.

An auctioneer has been commissioned to sell the linens, jewels, souvenirs, etc., belonging to the late Queen of Belgium, the proceeds tA be devoted to paying the debts of her daughter, Princess Louise, . who was divorced last -year by Prince Philip of Saxe-Coburg and Gotha. Among the objecls~EEua to "be sold is a diadem presented to the queen by the people of Belgium on the occasion of her silver wedding anniversary. The diadem cost $30,000.

Dr. Cooke Ahead of Peary.

rphafithorhertamonsAmerican expiorer, Dr. Frederick A. Cooke of Brooklyn, N. Y., is now at the head of an expedition safely in winter quurters a-t Etah, Greenland, 650 miles south of the borth pole and north of the farthest Peary sta-

; ion, became known when John R. Bradley, the wealthy New York sportsman, returned to North Sydney on his schooner yacht after lauding Cooke, with sleds, dogs and provisions for two years. Mr. Bradley, who is the financial backer of this expedition, says that their intentions were kept secret for fear that the Peary expedition would be stirred to greater activity. Cooke will leave Smith's Sound at 79 degrees north latitude, next spring, and after crossing Ellesmereland, will try to reach the pole by the open polar sea. Unlike Peary. Dr. Cooke is to be aceomiwnied by only two Eskimos and dogs sufficient for two sleds. The sleds are built with roofs and warmed with lamps *o that the occupants may sleep while progress is being made. Two canvas boats are also carried

From Far and Near.

The best glass eyes cost about SSO each. —Mrs. Money, wife of the Senator from Mississippi, d.ed suddenly at her home near Beauvoir, Miss. The body of Mrs. W. F. Turner, a niece of the late Samuel J. Tilden, was taken from the' river aU-Uetroit. She thad committed suicide. TEV Nary Department has awarded to Armour k Co.rChicago, the contract for fiirnishisf 1,000,000 pounds of beef at 570.800. This is part of the supplies for the Pacific cruise of the battleship squadron. S-

WHY JAPAN WANTS NO WAR.

Asother Stnggle Woald Impose sa Unbearable Financial Strata. Japan's national debt la, $1,100,000,000, a sum equaling almost one-seventh es her total national wealth. Of this amount $571,135,500 represents loans made abroad for carrying on the wars with China and with Russia, and the remainder internal obligations. These loans Knas An an a n nap norjf intPNUlt UVor, VU BU RTVlxtgtr, xf pvl xxuk tuvet k| making her interest item alone some $53,000,000 annually. To meet this debt, principal and Interest, and to provide for her running expenses, Japan has a revenue, estimated, for the present year, at $308,227,000, derived In large part from direct taxation on land, incomes, business, mining, customs, sugar, bourses, etc. The fact that this estimate exceeds that of 1904 by $144,494,000 affords a striking illustration of the increasing strain upon the taxpayer in paying the cost of wars. Furthermore, there has been an increase in the annual pension expense of Japan of from $15,000,000 to $18.000,000 during the past two years. Another war would mean more interest .gharges, increased pensions and heavier taxes upon a people already overburdened with war debt. Japan could not hope to prosecute a war against the- United States with less expense than that of her struggle against Russia, even if she were successful in obtaining the necessary funds tog the conflict. It will be recalled that her 40-year 5 per cent bonds for her $115,000,000 loan in London and Paris - isst March... hrnui'ht only 0914. whereas gilt-edged, 40-yoar, 5 per cent investment securities .ought to bring more than par. If it is true that the' money markets de- . tormina wars in these days»it is clear that war between the United States and Japan is not among the possibilities of the immediate future.

A Successful Airship.

Tr -would seem that Count Zeppelin, the - "Gennaff-enthttsinst who—bas—exluuistsdhis fortune in aerial accomplishments, has at last won a triumph which bids fair to delay or perhaps render impossible the victory of the aeroplane over the dirigible balloon. He has driven his latest air-

ship at the rate of thirty-eight miles an hour. In his recent trial, Count Zeppelin completely circumnavigated the Lake of Constance, remaining in the air tof four hours and seventeen minutes, leaving astern the steamers that tried to keep up with hkn, passing over five different states and making evolutions before the windows of the royal castle aU Friedrichahaven.

New Type of Motor Boat.

In France there has recently beoalaunched a motor boat in which the screw propeller is, placed at the bow instead of at the stern. This is the invention of Audro Gambia, who claims that the boat is non-cnpsizable. The screw is known as a “typhonoid." It consists of a number of blades symmetrically distributed around an axis terminating in a cylindrical tube. Each blkde is composed of two surfaces, one of which is splrai-cylindri-cal, like s loosely rolled sheet of paper, with Its inner edge at the aiuTand ltd' outer portion forming part of the enveloping tnbe. The other surface is smaller, inclined and helicoidal like'the blade of an ord.nary propeller. It extends from the front end of the cylinder to a spiral line some distance behind the front of ths first surface or sheet. the front edges of both blades biting riveted together so as -o form a cutting edge that slopes back from the apex to the circumference. This motor ia expected to develop s speed of sixtv miles so hour with 100 horse-Dower

GOTHAM BANK CLOSES

BIG KNICKERBOCKER TRUBT COMPANY IN TROUBLE. After Run Exhausts $8,000,000 Reserve, Directors Order Doors Falls for $6,000,000. During a day bordering on widespread financial panic, New York Tuesday witnessed the suspension of the Knickerbocker Trust Company, the second largest in the country, with deposits aggregating more than $62,000,000; the failure of the stock brokerage firm of Mayer k Co., wheat liabilities are estimated at $6,000,000, and the serious embarrassment of six banks and another trust company. The resignation of Charles T. Barney, president of the Knickerbocker Trust Company, precipitated a run on the four branches of the bank in the morning. The directors announced that they had plenty of money to meet all depositors, but the rush grew so heavy that at noon, after a conference, It was decided to close the barfk temporarily. 7" 7 The day’s events included the suspension ternpbrarlly7 and possibly for some time, of the Knickerbocker .Trust Company, a concern with $63,000,000 of deposits; frantic selling at pamic prices of shares on the stock exchange; the rise of call money to 70 per cent; a $6,000)000 brokerage failure; and the circulation of sinister rumors -as to the standing of men and banks whose credit has;- ; htther4o-. been--"anftssaiiedj Credit, the bulwark and support of all business, was shaken to its foundation, and the general banking situation became so grave that the Federal government was farced to act. The entire financial machinery of the government was set to work to prevent widespreading financial trouble. Immediately after the suspension of the Knickerbocker Trust, William Turnbull, fourth vice president of the company, issued for publication a scathing statement in which tye accused a man, supposed to be President Roosevelt, of indirectly causing {»a crash ■by destroying the confidence of the people in the credit system. President Roosevelt, In a speech at Nashville, Tenn., denied responsibility for recent financial developments and He defined his policy ae an effort to punish successful dishonesty, and, declared that for the remaining sixteen months of his tenn this policy shall he persevered in unswervingly.

FINANCIAL CONDITIONS.

Reports from -Various Commercial ■■SSfca-tora - V - ppS* CHICAGO.—The Chicago“frfta n cial sit-i nation is as strong as the Rock of Gi|braltar. Banks have found safety in their own examinations. Local institutions have not indulged in wildcat speculations. They have attended to commercial dependencies strictly, and hence the Wall street flurry has been felt but little here. BOSTON.—There is little anxiety among banking interests here. Thus far the only effect of the disturbance hat been an unsettled market, especially for copper shares. PHILADELPHIA—Ph iladelphia banks are in a strong position and able to withstand any drain that they may be subjected to. A pool stands ready to take care of any financial institution that may develop weakness. LOS ANGELES.—Financial Institutions are solid and no fear whatever is felt. ST. LOUIS. —There is no reason to fear a serious business depression or financial flurry here. We are getting more independent of Wall street and are not disturbed by its flurries. KANSAS CITY. —Financial conditions fa Kansas City are healthy. West of and contributory to Kansas City conditions have been unusually prosperous and the country banks have plenty of money. MINNEAPOLIS.—The time has passed when Wall street conditions can have any serious effect upon conditions here. The Northwest, for several years,- has been lender rather than a borrower of money. SAN “FRANCISCO.—There is abundant money in the commercial banks here for legitimate purposes and nothing Is to be feared on account of any of the San Francisco savings or trust banks. DENVER.—Banking and business interests in Denver have not felt the effects of the Wall street flurry. PORTLAND. —The financial situation fa this city is remarkably good. The banks of Portland have more rndhey on hand than at any other time In their history). There is scarcely a bank in this territory that is not prepared for any emergency. BALTIMORE. —Bankers and brokers Repress no apprehension over the financial situation. Local hanking institutions are in a strong position. MILWAUKEE. —National and private banks are doing business without any exf c'itement to-day. They have prepared Tot any emergency that may arise. CLEVELAND.— I The flurry in New York had no effect in financial circles here.

Perking Blames McCall.

In Jhe effort to get indictments for forgery Tn icbnhectlon with the NetV Toss" Life Insurance Company financiering dismissed. George W. Perkins and Charles S. Fairchild, the New York millionaires, have attributed the fraudulent entries, showing a fictitious sale j)f stocks intended to deceive the Prussian government, to the late president, John A. McCnll. The lawyers for Perkins charge that the grand jury waa actually coerced by District Attorney Jerome into bringing the indictments after they had once voted not to do so.

COMMERCIAL AND FINANCIAL

CHICAGO. a steady course, and, aside from the sentimental effect of financial troubles in the East, there is sustained confidence felt here as to the outlook. Transportation of finished materials, general merchandise and other eommod.tiea exceed that at this time" last year, and", while the aggregate of new demands for manufactures has narrowed, there is seasonable activity in most lines of distribution, Payments through the banka again make a largely increased showing, legitimate discount requirements are promptly extended to responsible borrowers, and there is less general pressure for money for commercial purposes, but an. increased number of trading defaults appears this week, indicating further elirnination of weak concerns. Most banking accommodation for industrial purposes is amply provided for until the turh of the year, and, while the* drain of currency to move crops has become heavier, there is no apparent rea—• son to question the soundness of business. Were there any existing difficulty fa disposing of the products of the soil or any evidence of (shrinkage in the purchasing "power some apprehension might .qpgra, tyqt crop marketings continue in excess of the high aggregate a year ago. Raw materials exhibit no decline in the volume of absorption. Consumers hold out for concessions and prices reflect an easier tone, although these are .quoted unchanged in iron, steel, t hides and leather. Bank clearings. $267,471,155, exceed Those’ of~corresponding week in 1906 by 20.9 per cent. Failures reported in Ohi'cago district number 28, against 18 last week ahid 21 a year ago.—Dun’s Review. NEW YORK. Trade and industry have tended toward quiet in sympathy with reports of financial unsettlement at New York and a few other cities, the continuance of mild weather affecting as It does retail distribution, the natural seasonable slowing; down of jobbing trade and the influenceupon retail trade and collections of the continuance of the holding movement of crops. On the other hand, the financial sitiiatlonat New York, generally speak- J Ing, seems to be well in, hand; the New York banks, under courageous and experienced leadership, are meeting conditions as they arise with discretion; recent de- i dines fa prices of cereals and cotton have encouraged foreign demand for the J country’s products, the holding of cotton, J a great exchange-making medium, is f showing some signs of relaxing, and low- „|| ered prices of domestic commodities lead M to the hope that the demand, of a pros- j perous couhtry, affectedly the unduly qi high level of some commodities, will re- |1 vive. ’ ■ Business failures for the week ending | Oct. 24 number 217, against 194 last -V in 1905, Lss in 1904, and 217 in 1903. *1 Canadian failures for the week number ■ 89, as against 36 last week and 29 in this week a year ago.—Bradstreet’s Report. '

THE MARKETS

Chicago—Cattle, common to prime, $4.00 to $7.10; hogs, prime heavy, $4.00 to $6.10; sheep, fair to choice, $3.00 to $5.50; wheat, No. 2,95 cto 98c; corn, No. 2,68 cto 59c; oats, standard, 48c to 49c; rye, No. 2,80 cto 82c; hay, timothy, $12.00 to $20.00; prairie, $9.00 to $15.00; butter, choice creamery, 27e to 2Sc; eggs, fresh, 19c to 24c; potatoes, peiHjushei, 55c to 65c. Indianapolis—Cattle, shipping, $3.00 to $7.00; hogs, good to choice heavy, $3.00 to $6.50; sheep, common to prime* $3.00 to $4.75; wheat, No. 2,99 cto $1.00; corn, No. 2 white, 62c to 63c; oats, No. 2 white, 50c to 51c. St. Louis—Cattle, $4.50 to $7.00; hogs, $4.00 to $0.10; sheep, $3.00 to $5.50; wheat, No. 2, sf.oo to $1.02; corn, No. 2,58 cto 59c; oats, No. 2,46 cto 47e; rye, No. 2,82 cto 83c. Cincinnati —Cattle, $4.00 to $5.50; hogs, $4.00 to $6.30; sheep, $3.00 to $5.25; wheat, No. 2, $1.03 to $1.04; corn. No. 2 mixed, 65c to 06c; oats, No. 2 mixed, 52c to 53c; rye, No. 2,91 cto 93c. Detroit —Cattle, $4.00 to $5.50; hogs, $4.00 to $6.00; sheep, $2.50 to $5.00; wheat, No. 2,99 cto $1.00; corn, No. a yellow, 65c to 66c; oats. No. 8 white, 63c to 54c; rye, No. 2,86 cto 87c. Milwaukee —Wheat, No. 2 northern; $1.05 to $1.08; corn, No. 3,50 cto 60c; oats, standard, 60c to 51c; rye, No. 1, 83c to 84c; barley, standard, SI.OO to $1.01; pork, mess, $15.50. Buffalo —Cattle, choice shipping steers, $4.00 to $6.25; hogs, sari to choice, $4.00 to $6.75; sheep, common to good mixed, $4.00 to $5.25; lambs, fair to choice, $5.00 to $7.75. New York—Cattle, $4.00 to $6.23? hogs, $4.00 to $6.80; sheep, $3.00 to $5.00; wheat, No. 2 red, $1.(6 to $1.06; corn, No. 2,70 cto 71c; oats, natural white, 55c to 59e; butter, creamery, 25ct to 28c; eggs, western, 19c to 24c. Toledo —Wheat, No. 2 mixed, SI.OO to $1.02; corn, No. 2 mixed, 02c to 63c; oats, No. 2 mixed, 52c to 53c; rye, No. 2,86 cto 87c; clover seed, prime, $10.35.

Told in a Few Lines.

The mattresses used in the German army ara staffed with little rolls of PS per, snd are said to be a great improvement on straw. Government crop report contains no surprises for the trade except for the claim that the spring wheat quality ia ■lightly better than last year. The. rebuilding of San Fnundaco has been hampered greatly by the very high wage schedule. The rates exceed by a dollar a day the maximum scale in New York.