Bemidji Daily Pioneer Newspaper, October 18, 1907, Page 4

| | | + | | | | | | | Calumet Bakin Powdgr Best by Test MANY LABORING MEN MOVING TOWARD CAMPS Lumberjacks Coming From All Direc- tions to Work in Northern Woods This Winter. The usual fall movement of the large crowds of laboring men from | the cities in the north part of the state to the lumber camps, has already commenced, and this city is a sort of general distribution point for the lumber companies and others who desire working men for the winter. . from Duluth, Grand Forks, Crookston, Brainerd, St. Paul and Minneapolis bring many laborers, looking for work. Many of the men are hired before they reach this city and the re- mainder are soon in the hands of the local employment agents, who have more orders for men than they can fill. Most of the travel to this city is over the line of the M. & I. rail- way north to the lumber camps along the line from this city as far as International Falls. Many more men are wanted the demand at present exceeding the supply. Good wages are being offered for the winter’s work, and laboring men could not do better than to come to this section for the winter. In-coming trains Bena Indians Prosperous. Henry Warren, superintendent o} the Indian school at Bena, and in charge of the sub-Indian agency at Bena, was a visitor in the city last night, having come up from Walker on the evening train. Mr. states that Bena Indians and those living around Lake Winnibigoshish are in very good condition to stand the rigors of the coming winter. Although the wild rice crop was not as large as Warren was expected, the price was high, and the Indians realized consider- able from their harves of the rice. The blueberry season was a profit- able one for the reds; and altogether ' they are in excellent condition, and have no complaints to make. Small Fire—Little Damage. A small blaze which originated in the basement, between Roe & Mark- usen’s grocery store and the Owl Drug store, caused the fire alarm to be sounded and the fire department | to be brought out. The fire resulted in a small damage, but might have been serious but for prompt service on the part of the occupants of the two buildings mentioned. Some boxes which were on top of the boiler, used for heating the build- | ing, caught fire, but beyond filling | the basement with smoke the fire was extinguished and no interior damage was done. A Smooth ““Joiner of Souls.” M. J. Slocum, the local justice of the peace, yesterday offiiciated at | the joining of two hearts that “beat ias one,” at his office on Second | street. i The contracting parties to the marriage ceremony were Leonard Johnson and Miss Ingeborg Benson of Blackduck. Whether the judge accompanied the ceremony with the customary osculatorial salutation to the bride is not definitely known, but judging from the judge’s wide smile this morning, he ‘‘smacked” the new Mrs. Johnson. No Excursion From Big Falls. i Late this afternoon, the Pioneer | received advices from Big Falls that there would be no excursion from Big Falls to International Falls Sun- day, as had been planned by some of the north-country people. There is much work to do on the northern extension and the railway officials desire the track clear as much as possible, in order that gravel trains may be operated with- out interference Sunday. Timothy Hay Sells for $21. Chicago, Oct. 18.—No. 1 timothy hay sold here during the day at $21 per ton, which is the highest price ever paid for that commodity in this city at this season of the year. Cholce timothy is quoted at about $2 per ton higher than the No. 1, but there is none of this grade on the market. Local dealers ascribe as the canse of the scarcity an alleged embargo which they claim has been placed on hay by certain railroads because of the poor financiai returns derived from the handling of it. AN OLD LANDMARK BEING TORN DOWN AND REMOVED The Swedback Sawmill Cut Much Tim- ber for the Pioneers of Bel- trami County. The sawmill on Lake Irving known as the Swedback mill is being razed and will soon be a thing of the past. Mr. Swedback has sold the lath mill to A. R.Button of Big Falls and the plant is being shipped north as rapidly as possible, The Smith-Minor Lumber com- pany has purchased the planing mill and will place it on the site of their lumber yard for use in finishing their lumber. Other parts of the mill will bedisposed of asrapidly as possible. The Swedback sawmill was built ten years ago, at a time when the city of Bemidji was very much in its infancy, and the whole town con- sisted of but a few buildings. Many thousands of feet of timber have been sawed in the mill, much belonging to the early pioneer settlers, and which gave the jack-! pine home builders an opportunity to realize from the timber taken off their lands. The old mill was a land mark of the early days and its passing removes from the scene a relic of pioneer days. . e Settled Ouf of Court. J. A. Hendricks, the attorney, came down this morning from International Falls, where he appeared as attorney for Edward Larson in a damage suit wherein the latter was sued for personal injuries alleged to have been received by Donald Stephens at the hands of Larson. Stephens sued for $5,000 damages. The case was settled out of court, without expense to the defendant. Fosston KILLED BY BEE STING. Bouth Dakota Farmer Dies Within Fif- teen Minutes. Canton, S. D., Oct. 18.—Stung upon the temple by a common honey bee while he was picking up potatoes on the farm of Henry Tripp, one mile north of here, Michael Oakleaf died fifteen minutes afterward in convul- sions before medical aid could be se- cured. F Physicians who were summoned hastily examined the head and gave as their opinion that the sting pene- trated the brain through the knitted part of the skull, which caused his enddon Acath dressed when you put it on. Our styles are always correct and our clothing is made for us from the best materials obtain- tainable by Hart, Schaffner & Marx, the largest manufacturers of men's clothing in the world. Any model, any fabric, any color. Prices, $18 and up. perfect hat, style is ors all they should anteed not to fade. Our $3.00 Mora Hat is a Next Door to First National Bank. right, col- be, guar- Gill Bros. The Popular Priced Clothiers The Cost Of Your Clothes isn’t measured solely by the money you pay forthem. Every man owes it to himself to dress well; to do otherwise may cost him more than he will ever know. clothes from us pou pay from $12 to $25 for it, and you are well When you buy a suit of Crossette Make Life’s Walk Easy Shoes, $4, are recognized as highest value by men who know most about the subject. Bemidji, Minn. For the young men, 30 to 36 chest, and boys, 7 to 17 years. who want to look the real thing, we have some very snappy models with all the new kinks. $5 to $20. HEINZE INTERESTS HIT United Copper Slump Followed by Financial Trouble. £. AUGUSTUS IS FORCED OUT Retires From Presidency of Big New York Bank and the Firm of Otto Heinze & Co. Suspends—Butte (Mont.) Bank Also Closes Its Doors. New York, Oct. 18.—The financial troubles growing out of the rapid de- cline in the price of United Copper shares, following an unsuccessful at- tempt to corner the stock, has cul- minated in the resignation of the presidency of the Mercantile National bank by F. Augustus Heinze and the announcement of the suspension of Otto Helnze & Co. on the stock ex- change. While the firm’s suspension from the privileges of the exchange became effective at once a representa- tive of the Heinze interests said an assignment had not been made and 7l F. AUGUSTUS HEINZE. that it was hoped to straighten out affairs in a short time. F. Augustus Heinze, in his statement of resigna- tlon, said he retired from the presi- dency of the bank in order to be free to devote ample time to the task of rehabilitating his brother’s firm. W, B. Ridgely, comptroller of the cur- rency, has been invited to become president of the Mercantile National | bank, but so far has not said whether he will accept. The troubles of Otto Helnze & Co. and the failure of Gross & Kleeberg resulted directly from the | general unfavorable condition cf the copper market. For months it has | been understcod in Wall street that curtailment of copper production and reduction of price were necessary. United Copper, a Heinze property, declined sharply. Another feature of the day’s copper news was the tem- porary suspension of the State Sav- ings bank of Butte, Mont, a city which is dependent on the copper in- dustry. 1 The stock market opened nervous | and developed considerable weakness | during the first hour. Later it be- came considerably firmer, but at 1:30 p. m. the tendency was again down- ward, with Amalgamated Copper es- pecially weak. TEMPORARILY SUSPENDED Otto Heinze & Co. Refuse to Pay Cer- tain Obligations. New York, Oct. 18.—Otto Heinze & Co. have made the announcement that the firm will permit itself to be tem- porarily suspended from the privileges of the stock exchange. Gross & Klee- berg have declared that their failure was due to Otto Heinze & Co. declin- ing to take up stock purchased for them by Gross & Kleeberg. Otto Helnze & Co. made the following statement at the opening of the stock exchange: “Arthur P. Heinze is no longer a member of the firm of Otto Heinze & Co. The firm of Otto Heinze & Co. feels itself perfectly solvent and will meet and pay all its just and legal obligations in full. The firm, how- ever, refuses to pay obligations which it does not consider legal or just until a proper adjudication of the matter has been made. Rather than submit to such unjust demands it prefers to permit itself to temporarily be sus- pended from the privileges of the stock exchange.” For some time past the situation in the copper shares has been rather un- favorable. For a number of weeks the Amalgamated Copper company has been holding down the production of its mines to about one-half its nor- mal output because-of a heavy over- production of the ore and the refusal of consumers to buy at the prices which had prevailed. Since this re- duction of output was put into opera- tion the price of the metal has slowly but steadily been declining. BUTTE SAVINGS BANK FAILS Owes Depositors Over Four and a Half Millions. . Butte, Mont, Oct. 18—The State ‘Savings bank of Butte has temporar- ily suspended. The bank, according to a recent statement, owes depositors $4,621,970. Although a savings bank the institution transacted a general banking business. Because of the suspension of what are known as the Heinze brokerage firms in New York a run was started on the savings bank, in which Heinze is the leading stockholder and a dj rector, and that bank, avalling itselt of the thirty days’ privilege, closed ita doora. None of the other banks, it 8 sald, are affected, They experienced no runs. The following bulletin was posted by the officers of the State Savings bank: “Becauseof unsolid conditlons. and rumors that cannot be verified that wmay cause unusual demands by de- | positors and owing to the shortage of currency and inability to secure addl- tional currency immediately to pay demands which may be made the man. agement has deemed it advisable in the Interest of all depositors to sus- pend for the time belng. The bank 1s solvent.” i d IN THE HEINZE FAILURE. Number of Other New York Firms Said to Be Involved. New York, Oct. 18.—Alarming ru- mors Were In circulation in Wall street Just before the close of the stock market to the effect that othe§ firms than Gross & Kleeberg had suffered heavily through the operations of Otto Heinze & Co. in United Copper. Four other firms were involved, it was said, to the extent of about $1,500,000. A statement {ssued by Gross & Klee- berg alleges that Otto Helnze & Co. owed them $600,000. Max M. Schultze, stock exchange member of Otto Heinze & Co., was in- definitely suspended during the after- noon, his suspension being announced by the secretary of the exchange in the following notice: “The president of the exchange de clded to suspend Max M. Schultze, it belng Imperative under the rules, in- asmuch as he had time and oppor- tunity to notify the exchange of his insolvency and had failed to do so. The suspension will stand until he has met all his obligations and has been relnstated by the committee on ad- missions.” IMMENSE LIABILITIES. German Bankers Fail for a Large Amount. Hamburg, Oct. 18-—The liabilities tof Haller, Sochle & Co., bankers, whose failure is announced, are esti- mated at from 12,000,000 to 30,000,000 marks (from $3,000,000 to $7,500,000). The failure was due in part to the fall in American copper shares, but the bank also had great speculative investments in real estate companies and industrial concerns, in which it embarked heavily after the death some vears ago of the senior partner, Dr. Soehle. The present members of the firm are Oscar Luebbers and J. C. Soehle. Representatives of -various financial houses have been discussing means for collective support of Hal- ler, Soehle & Co., without, however, | thus far, reaching any conclusion. APPEALS TO HIGHEST COURT Suit of Clarence H. Venner Against James J. Hill. ‘Washington, Oct. 18.—In the su- preme court of the United States an appeal was filed in the suit of Clar- ence H. Venner of New York to com- pel J. J. Hill, president of the Great Northern railway, to restore to the plaintiff, as owner of 300 shares of | the Great Northern stock, as well as to the other stockholders of that com- pany, the profit of $10,000,000 which Hill is alleged to have made by pur- chasing in 1900 and 1901 $25,000,000 worth of Chicago. Rurlington and Quiney railroad stock at an average of $150 a share and then selling it to his own company for $200 a share. So the supreme court is asked to re- mangd the suit back for trial to~the supreme court of the state of New York, where it was originally brought in May, 1906. At that time, on peti- tion of the defendant, the suit was taken to the circuit court for the Southern district of New York on the ground of adverse citizenship. This court dismissed the suit on the ground that the plaintiff did not own his inter- est in the Great Northern company at the time the injury complained of oc- curred. It is alleged that it is not necessarry for this showing in the state courts of New York. GREAT DISTRESS PREVAILS Hundreds of French Towns Suffer From Floods, Paris, Oct. 18.—Dispatches from the center and south of France confirm the worst reports of destruction caused by the floods. The Rivers Loire, Rhone and Saone and their tributaries are raging torrents, the water in some places being the high- | est ever recorded. In hundreds of cities and towns there is from two to ten feet of water in the streets. Great distress has resulted. Railroad traffic is utterly disorgan- ized. At places the roadbeds have been washed away and the stations are under water. Fortunately the storm center is now moving seaward, the weather clearing and the worst appears to be over. Two Missionary Bishops Chosen. Richmond, Va., Oct. 18.—The house of bishops of the Protestant Episcopal church has elected Rev. Frederick Foulke Reese, D. D., of Christ school, Nashville, Tenn., as bishop of the missionary district of Wyoming, and Rev. Henry Deane Robinson, presi- dent of Racine college, Racine, Wis,, as bishop of the missionary district ot Nevada. Two Men Crushed to Death. Spring Green, Wis, Oct. 18— George Smith and Charles Cutler were caught under a heavy traction engine as it crashed through a bridge four miles south of here and were crushed’ to death. Smith was instantly killed. Cutler, caught under the engine, was slowly scalded to death. . HIGH COURT TO DECIDE. Is a Wake a Legitimate Part of a Funeral Ceremony? New York, Oct. 18.—The justices in the appellate division of the supreme court must decide whether a wake is a legitimate part of a funeral cere mony in ap Irish family. The ques- tlon was brought up by Joseph H. McCallagh, who seeks to be reim: bursed for the expenses attending the wake of an uncle, Peter McCallagh, who died two years ago. The executors and trustees under the will of Peter McCallagh refused to allow for these expenses. The nephew declared it was customary for & guard of honor to have refresh. ments. He ordered a liberal quantity of food and beverages, he sald, under the direction of the widow. & His counsel, Willlam F. Clare, In Insisting that the custom was so well established the court could not fail to recognize it, quoted from the diction. ary the definition of the word “wake” as the ‘‘sitting up of persons with a dead body, often attended with a de gree of festivity, chiefly among the Irish.” . MARKET VERY WEAK Other Stocks Affected by Condi- . tions in Copper Trade. BAD BREAK IN SOME ISSUES Union Pacific, Amalgamated Copper, | Reading, St. Paul and Northern Pa- cific Particularly Hard Hit—German Failure Depresses Situation. New York, Oct. 18.—Under the com- bined influence of the collapse of the United Copper company and the fail- ure of Gross & Kleeberg, added to the generally pessimistic sentiment that has prevailed for weeks past, the stock market opened- nervous and soon developed a weak, reactionary tone. per shares were decidedly weak and there was heavy selling of the United States Steel stocks. The consequence Was a break in some issues through the lowest prices touched the previ- ous day. TUnion Pacific in the first forty-five minutes of trading sold down to . 1163, Amalgamated Copper to 48%, Reading to 86%, St. Paul to 112% and Northern Pacific to 116. Sentiment was further unsettled by mnews of the failure of Haller, Soehle & Co., an old banking house of Ham- burg, Germany, with liabilities of from $3,000,000 to $7,000,000. This firm did a large business with European industrial concerns. Towards 11 o’clock there was a rally in the market and a somewhat more cheerful feeling prevailed among the brokers, who took the view that the market had acted better in the first | hour than might have been expected. It was said also that all of the weak points in the banking situation had | been taken care of and that the in- dividual necessities of one very prom- inent capitalist had been supplied. The total sales of stocks in the first hour was 333,750 shares. Stocks made a good recovery when it became known that all sheets had | passed the“stock exchange clearing- house successfully, thus indicating | that no failures had occurred. The ! market settled into & quieter tone | after that. Amalgamated Copper sold off rap- idly from 50 to 483 on the announce- | ment of the reduction in the dividend | and closed at 49%. The general mar- ket was quite nervous at the close There was rather heavy buving dur- ing the afternoon, said to be to cover up short sales already made at higher | prices. o ‘: | WHEAT MARKET AFFECTED | Drop of Nearly Three Cents in Lead- ing Options. Chicago, Oct. 18.—Wheat experl- | enced a severe drop on the board of trade, the December option declining nearly 3 cents, while the May option was down 2%. The severe decline | was attributed to the weakened con- dition of the stock market and a de- cline of 5 cents at Winnipeg, where it is said that the receipts are steadily ! Increasing. The bears had things pretty much their own way throughout the day and the occasional rallies were feeble in character. New York, Oct. 18.—Wheat broke nearly 3 cents a bushel’and corn 2% in the New York produce market un- der the demoralized condition growing out of a smash in Liverpool prices, lessened export interest and disquiet- ing Wall street conditions. December wheat tcuched $1.133%, or 5 cents i down from the recent high point. DROP AS LOW AS $10. United Copper Shares Continue Down- ward Course. New York, Oct. 18.—The curb stock market, to which all the trading in United Copper shares is confined, ‘opened active and excited. United Copper was weak and active. The first sale of the common stock was at $13, as compared with the closing price of $15. It quickly dropped to $10 and then recovered to $12.50. The strength of Consolidated Steam- ship company’s bonds was a feature of the opening of the market. These bonds, which were weak during the excitement of Wednesday, sold at 21%, as compared with a closing price of 19%. The Consolidated Steamship company is operated by Charles W. Morse, who is associated with F. Au- gustus Heinze ifi the Mercantile Na- tional bank. Drop in Amalgamated Pividend. New York, Oct. 18.—Directors of the Amalgamated Copper company have declared a quarterly dividend of 1 per cent, as compared with a divi- dend of 2 per cent for the last previ- ous quarter. This makes the annual dividend rate 4 per cent, as compared with 8 per cent the previous year. DEATH LIST THIRTY-SIX. Funerals of Explosion Victims Begin at Fontanet, Ind. Fontanet, Ind, Oct. 18.—Addison Webster and Samuel Cothrell, em- ployes of the Dupont Powder com- pany, who were reported blown to pleces by the explosion of the plant, were found seated on a coffin in front of the undertaking establishment. Both had sons killed and both had heen seriously injured. Their ap pearance reduces the number of dead to thirty-six. The one little hearse of the town during the day began its mournful march to and from the cemetery, All of the services were conducted under the direction of the United Powder and High Explosive Workers’ union No. 101, of which but six members out of seventy-two were able to take part. All others were killed or serl- ously injured. The rowder company contributed $5,000 to the relief fund and is paying all funeral expenses, It 18 estimated that’not more than one-third of the houses in the town can be repaired. Food and water are still scarce, Twelve hundred people are being cared for. 3 e Southern Pacific and the Cop- | { [FRIEND TO FRIEND. The personal recommendations of peo- ple who have been cured of coughs and colds by Chamberlain's Cough Remedy have done more than all else to make ita staple article of trade an'l commerce over | a large part of the civilized world. ‘ Barker’s Drug Store WANTS ONE CENT A WORD. HELP WANTE} {WANTED FOR U. S. ARMY: Able- bodied unmarried men, between ages of 21 and 35; citizens of United States, of good character and temperate habits, who can speak, read, and write English. For information apply to Recruit- ing Officer, Miles Block, Bemidji, Minn. WANTED: Competent girl for gen- eral housework. Good wages. Inquire 509 Bemidji Ave. WANTED: Porter, chambermaid, diningroom girl and bell hop. Hotel Brinkman. WANTED: A girl to work at the Del Marca Cigar Factory. Apply at the factory. WANTED: Laundry girl, chamber- | maid and dining-room girl. Mrs. Brinkman. FOR SALE. FOR SALE—Rubber stamps. The Pioneer will procure any kind of a rubber stamp for you an short notice. FOR SALE—Magnificent moose head mounted; will be sold cheap. Inquire at this office. LOST and FOUND LOST—Gold locket with lion’s head on one side and monogram on other. Leave at this office for reward. FOUND—Society emblem pin. quire at this office. % FOUND: Yale key. Pioneer office. In- Inquire at FOR RENT. FOR RENT: One furnished room. ‘Inquire of Mrs. E. H. Cornwall, 1121 Bemidji Ave. MISCELLANEOUS. PUBLIC LIBRARY—Open Tues- days, Thursdays and Saturdays, 2:30to 6 p. m. and Saturday evening 7:30 to 9 p. m. also. Library in basement of Court House. Mrs. E. R. Ryan, librar- ian. WANTED—Room with board in private family, by man and wife. Address H. A. Bliler, at Reed’s studio. Want Ads FOR RENTING A PROPERTY, SELL- ING A BUSINESS OR OBTAINING HELP ARE BEST. Pioneer