New Britain Herald Newspaper, February 27, 1915, Page 9

e NEW BRITAIN DAILY HERALD, SATURDAY, FEBRUARY 27, 1913. 0 BURDEN ON RALLWAY Organization of Holding Companics {9 Gontrol Railroads. Washington, Feb. —Daniel G. Reid, head of the group which took ro!;trol of the Rock Island railway system in 1901, declared yesterday at the interstate commerce commission's . Investigation of the road’s financial affairs that organization of the two holding companies put no additional burden on the Chicago, Rock Island and Pacific Railway company. Mr. Reid’s examination was con- clyded and his assertion that the hold- Ing companies, with total capitaliza- tion of $350,000,000 had not added to the burdens of the operating concern “¢ame during his cross examination, _which was very brief. He did not | know the amount of the commission or what had become of the stock. Conditions Have Changed. During his direct examination Mr. Reid asserted that conditions has so changed in the railroad world of re- cefit years that he would not now ac- cept as a gift control of any western or southwestern railroad. . “When you cut the earning powers of railroads by fixing rates, and every- ing else goes up in the way of taxes, conditions are worse,” he said, “I am not complaining of the wages we must pay but of what we get to pay wages with.” v Paid High Salaries. Joseph W. Folk, chief counsel for the commission, pointed out that of- ficers of the company had received during the period under investigation salaries ranging from $125,000 down 10.$25,000 a year. ~“There was not a man there who wis not worth what he was getting ™ sald Mr. Reid. “Mr. Folk pointed out that R. A. Jackson, a retiring director got . : g’rescnt of $100,000 from the company “in addition to a’salary of $25,000. Mr. | Reid said Jackson had been paid $5 000 a year, not $25,000, and the $100,- 000 was for “services rendered.” Neced More Rates. Later Mr. Reid said that what the railroads needed was ‘“More rates, mode tariffs and less legislation.” €ommissioner Clements interposed with the observation that possibly what was needed was “more legisla- tion to protect the public from securi- ty issues devised by lawyers.” . Mr. Reid said that the purchase of the ‘Frisco Lines had cost the Rock | Island $10,000,000, and he described it a ‘“regrettable mistake.” Pur- chase of the Chicago.and Alton, he ad- mitted under questioning, had cost the company another $6,000,000, saying the Clover Leaf bonds, while *not now known in the market sens might “work out,” under the ve- ceivership. ' “When those bonds were taken,” he said, “they could have been sold to any banking house in New York at 8 price. We don’t. know what they are worth today, and nobody else “does.” Suggested by Leeds. The Alton deal had been suggested by William B. Leeds, now dead, Mr. Reid said, as had been the holding _tompany plan. It was Leeds, also, he “aid, who had led him into his *m—iginal purchases of more than $6,- 000,000 in Rock Island securities. ., “To be frank, I was foolish,” said Mr. Reid. He added that he was, imself, the greatest loser in the whole Rock Island transaction, so far as he knew. When he and his as- sociates took over the line, he said, they found it to be a “streak of rust, a joke.” Mor Folk called attention to the $8,000,000 surplus the read then had. Surplus But No Railroad. “That’s all jt had,” Reid replied. “It had a surplus, but no railroad.” ©n his cross-examination Mr. Reid said David Lamar had sought to reach him by telephone in January, 1914, but he had refused to have anything to do with him. Later he was told L Lamar wanted to tell him that a speech wotdl be made in congress against the Rock Island. Counsel for Mr. Reid then placed in evidence the con- zressional record showing the speech »f Hepresentative Green of Iowa, urg- ing the investigation and presenting a resolution calling for action by the interstate commerce commission. Rep- resentative Green sat with Mr. Folk during the hearing. FIRST DOSE ENDS INDIGESTION,’ HEARTBURN, OR GAS ON P STOMACH. The question as to how long you are going to continue a sufferer from sindigestion, dyspepsia or out-of-order stomach is merely a matter .of how soon you begin taking Tonoline Tabs. People with weak stomachs should take Tonoline Tablets occasionally, _and there will be no more indiges- tion, no feeling like a lump of lead in the stomach, no heartburn, sour ris- . ings, gas on stomach, or belching of undigested food, headaches, dizziness or sick stomach; and besides, what you eat will not ferment and poison your breath with nauseous odors. AJ} these symptoms resulting from a sour, . out-of-order stomach and dyspepsia, are generally relieved five minutes after taking Tonoline Tablets. Go to your druggist and get a $1 ' box of Tonoline Tablets and you will always go to the table with a hearty appetite, and what you eat will taste good, because your stomach and intestines will be clean and fresh, and you will know there are not going io be gay more bad nights and miserable da;"lor you. Tonoline Tabs freshen ' you @and make you feel like life is worth, living, Tongline Tablets cost $1.00 for a 50 aays’ treatment, Ac druggists or mailed by American Proprietary Co., . Boston, Mass. on Her Return to America The Oscar II. of the Scandinavian- American line is one of the ships rlying in the new naval war zone and subject to danger. It was feared that she had been torpedoed with 400 pas- sengers aboard, but it turned out that! she had been held by a British cruiser and taken to Kirkwall, UL Orkney Islands, for examination of cargo. Her wireless had been dis- mantled, and that is why she was un- able to report her progress. For four | days nothing was heard of her, and it was thought that she had gone down. On her return trip to New York she will again be in danger. BRIGHTON BILL, BAD MAN, MEETS WATERLOO (Continued From Eighth Phage.) his native London to engage in the hard toil of loading and unloading vessels. He was a giant in stature, but of a quiet and studious. disposi tion. Instead of spending his nights carousing, drinking and fighting in the public houses, he devoted all his spare time to study under the direc- tion of a kindly German baker who was also a scholar. Tom’s desire to get an ‘“‘eddication” was viewed with amusement and disgust by his com- panions of the docks. More than that, he lived with an old woman named Wingrove, who kept re- spectable lodgings, and treated her with all the veneration due a mother. So far as anybody knew, Tom King had never fought in his life—and now he was due for a dust-up with the bellicose, brutal Brighton BIll. When the ring was formed—and there were even a few police among | lhe spectators—Bill uttered a hoarse and terrifying bellow and rushed at his opponent. The spectators held their breath, expecting Tom to go down and to be tramped into the dust. Instead, King met the onslaught with a slashing punch full in the face, which sent the terror back on his heels. The blow only added fuel to the flames of Bill's anger, and again | he rushed forward, his arms swing- ing like flails, but this time he re- ceived such a wallop that he was sent ; sprawling to the ground. King did not try to follow up his advantage, after the custom of longshoremen, by kicking his foe, although urged to do so by the crowd. “Give ’im the boot,” yelled the delighted spectators, but Tom waited until Bill was on his | feet. Then he went after him, land- ing with both hands with all the pre- cision of an expert boxer, until at last Brighton Bill was stretched out in the street, bruised, bloody and sense- less. A veritable storm of applause marked Tom King's triumph. Ie was hoisted on the shoulders of two brawny stevedores, and, followed by the mob, they paraded up and down the street, cheering like mad. xit Brighton Bill. It was Tom King’s first fight, but not his last. The news of his exploit spread over that end of London, and for days nothing else was talkeq of in the public houses. Jem Ward, the ex-champion, heard of Xing's tri- umph, and asked Tom to come to his tavern and put on the gloves with | him. The result was that the ‘“Black Diamond” took King under his wing, and instructed him in the science of boxing. He was an apt pupil, and by 1860 he had whipped several tough nuts of the ring, and was ready to tackle Jem Mace for the cham- pionship. Mace and King first fought early in 1862, and Mace was | the victor. Later in the fought again, and this time King de- feated the gipsy and became the champion_of England. Prizefighting was not fo his ‘liking, however, and he soon relinquished his honors. He returned to the ring in 1863 to fight John C. Heenan, ‘“the Benicia Boy."” The American nad had the best of a battle with Tom Sayers, and claimed the championship of the world. King whipped the giant New Yorker, and then definitely retired from the ring, i & quarter of a million dolla | verb, but in Tom King's case it was i the same seven months of 1913, was { 38,000,000 bushels more 122,000,000 gallons vear they | istic arena, King became an oarsman, and won several famous races. Later he became interested in the turf, and as a bookmaker he made a great for- tune, Always liberal, he gave away large sums, but waen he died in 1883 he left an estate valued at more than *Vir- tue is its own reward,” says the pro- more, for his gallant defense of out- raged womanhood rescued him from poverty and obscurity and set his feet firmly on the path that led to fame and fortune. EXPORTS SHOW BIG INCREASE FOR YEAR $188.000,000 Increase of Foodstuffs in Seven Months Ending Jan. 1915, Over Same Period in 1913, Washington, Feb. 27.—What vast increases have been made in the ex- port of foodstuffs from the United States since the FEuropean war be- gan, was disclosed by the department of commerce in a detailed statement of exports for the seven months ena- ing with January. In all $377,400,000 worth of breadstuffs and meat were sent abroad, which, compared with an increase of $188,000,000. One hundred million bushels more wheat was exported than last year; oats; 10,- 000,000 bushels more corn; 40,000,- 000 pounds more fresh beef; 34,- 500,000 pounds more canned beef; 1,500,000 barrels more flour; 1,- 000,000 pounds more pickled beef; more gasoline, naphtha, ete., and 111,000,000 gal- lons more residum, fuel oil, etc., were sent abroad. & At the same tsime there was great decrease in the export of cotton be- cause of the war, this total for the seven months being 4,105,525 bales, or 500,000 bales less than last year. DR. T. WILLIAMS TO ADDRESS EDITORS Dircctor of School of Journalism One of Speakers at Annual Meeting March 8. Dr. Talcott Williams, director of the School of Journalism of Columbia uni- versity, heads the list of speakers at | the annual meeting and banquet of | the Connecticut Editorial association ito be held in Waterbury, at the Hotel | Elton on Monday, March 8. Dr. Wil- liams is recognized as one of the best after dinner speakers in New city. The other speakers are Henry inson Palmer, one of the editors of the Providence Journal, Ralph M, Easley, of New Yeork, chairman of the executive council of the national civic federation; Rev. Robert E. Brown, pastor of the second Congregational church of Waterbury and John Rode- | meyer, c¢ditor of the Connecticut West- | ern News and commissioner of pub- licity of the Bald Head club of Amer- iet. The association goes tc Waterbury at the special invitation of the Water- bury Chamber of Commerce and Charles A. Colley, president of the chamber, will be the toastmaster. The business meeting is called for 3 Tork 1ob- and no persuasion would induce him to try to come back. i After bidding farewell to the pugil- o'clock in the afternoon, when the annual reports will be submitted and officers elected. J ‘| arrive. | we have DTN |Oscar II, Will Be in Danger [BISNESS SITUATION NOT SATISFACTORY Only in Agrexiural District IS There Any Normal AcLivity. {Special to th Herald.) New York, Feb. 27 markets of this country are still con- trolled by war news—the strain of the desperate European conflict being daily more and more manifest. The intense financial strain abroad Wwas very sharply reflected in the recent collapse of exchange, from which 2 | there has heen only a partial recovery. In this country the scrious derange- ment of our foreign trade resulting from the war has oduced a excess of exports which, though flat- tering at first sight, is adding to general complicatior In settlement for our large exports we must take either gold or securities, or else grant extensive credit until more venient circumstances for Gold we do not need, because an ample supply on hand and regularly produce a surplus for export. London needs gold vastly more than do we, and own interest to aid and rass L.ondon; sums have not embar- been engaged at Ottawa for Néw York and more may follow. | taking con- | At the same time we are siderable amounts of American curities from foreign holders, under present conditions may con- tinue this absorption if the induce- ments are sufficiently great. Before the war is over, some ve impor-~ tant shifts will occur in our foreign exchanges. Remittances abroad will necessarily decrease owing to re~ duced foreign holdings as well as to reduced profits and d dends. Tour- ist travel abroad will be practically nil this coming season, and the two or three hundred million dollars which Americans usually spend every year in foreign countries will be Jargely kept at home; incidentally to the adv tage of American railroads and hote n- There will also be a material decline | in immigration, which has already fallen heavily and is a factor of some consequence in our international trade | balance. . Shows Effects of War. Our foreign trade plainly shows the effects of the war. In January the total exports of merchandise $267,800,000, or $63,800,000 ahead of About $44,000,000 of this was credited to breadstuffs alone and $3,000.000 to meats. In addition there was a large increase in shipments of war materials, Some im- portant losses, however, had to be taken into donsideration, including a decrease of about $8,000,000 in cot- ton and $2,000,000 in mineral oils. Our export trade, though satisfactory in volume, has been, seriously de- ranged; and the heavy shrinkages have only been compensated for by shipments of foodstuffs and war ma- terials. The demand for the latter liable to sudden fluctuations Shoulad the Dardanelles opened allowing the free exportation of Russian grain, that must inevitably have an impor- tant eeffect upon our own exports of wheat; and when peace beging to dawn, Wwe may expect a drop in the orders for the munitions of war which have hitherto usefully filled the gap in foreign orders. In imports there was also a hea loss, the total for January being $122,000,000, a de- crease of $32,500,000, compared with the same month last year. This left is be an excess of exports of $145,500,000, | compared with ago. A more reliable indication the effects of war on our commerce will, the country’s record of exports and imports for the past seven months, or since the war began. Our total ex- ports within this period have been $1,334,000,000, or $187,000,000 1less than the same time last year. Imports were $930,600,000, or $137,000,000 less than a year ago. Here is a loss in exports and imports combined of $324,000,000 in the short space seven months. The fact that the ex- cess of exports has dwindled $50,- 000,000 in the last seven months is somewhat of a surprise. How this derangement of our foreign trade will extend, it is impossible to esti- mate. Much damage and confusion has already been done, but we likely to remain more fortunate than any other nation, as long as our abil- $300,000,000 a year ot ity to ship foodstuffs, cotton and war | materials is unchecked. Any stop- page of these through an embargo or | other causes, will add to the rangement which already exists our foreign intercourse. Business Not Satisfactory. The busine: not sat tural di activity de- in situation at home is there any normal and genuine hopefulness. In other parts of the country there is a sane determination to make the hest of things and keep cool undec tating conditio But war has LIVERTROUBLE Dull pains in the back, often under the shoulder blades, poor digestion, heartburn, flatulency, sour risings, pain or uneasiness after eating, yellow skin, mean liver trouble—and you should take SCHENCKS MANDRAKE PILLS They correct all tendency to liver trouble, relieve the most stubborn cases, and give strength and tone to liver, stomach and bowels. Purely vegetable, Plain or Sngar Coated. able, in or Sugar Coated. 80 YEARS' CONTINUOUS SALE PROVES THEIR MERIT. Dr.J. H. Schenck & Son, Philadelphia it is to our | although considerable | and | were | foreign | however, be found in | of | far | are | Only in the agricul- | otst | @W;‘,’;!S"‘Au.‘f;"’ HARTFORD. SUITS FOR STOUT WOMEN SPECIALTY. | The financial | | | i | | | the | | con- | settlement | 205 Women’s Suits for Spring The advance guard has arrived! The new styles are here. Colors | Vinclude Belglum blue, sand, putty, black and white checks. ] coats are from 23 to 27 inches i} in leneth; skirts are tight at hips, !] with flare effect below. Modified Norfolks for women and misses will be popular. OUR SPECIAL! | The H. O. P. Stroller Hat to match; reg- Opening spe- o In all materials, ular $32.50 value cial $25.00. 1 H. 0 P. i | 114-116 Asylum Street, Hartford. disturbed credit and trade as to im- pair confidence and no real improve- ment in the latter respect can be expected unil the prospects for peace improve. An early termination of the war would undoubtedly be a powerful stimulus for business recov- ery in the United States. At present business is being conducted on re- stricted lines. Clearing house returns show diminished activity in all of the country unless it be in Middle Northwest. are also unsatisfactory, the total for roads reporting thus far in February showing a decrease of over ten per cent. The improvement previously reported in the steel industry is well the parts | Railroad earnings | maintained, and production is now es- timated to be running at about 65 per cent. of total capacity. The bulk of new orders came from the railroads and prices are fairly well malntained. | In the cotton goods industry, orders are being placed with much caution, though on a strictly moderate anad the outlook is than a month ago. The ket is easy and loanable funds are plentiful to good borrowers. The in- vestment demand for securities, how- ever, is spasmodic, and there is a dis- position to await further develop- ments in foreign financing. Prepara- tions are being made for the flotation of big war issues on the other side, and this unavoidably exercises a de- pressing effect upon the entire mar- ket. March dividend disbursements are estimated at $116,0..,000, a de- crease of §$10,000,000 compared with last year. The corporate maturities which will have to be provided for | in March aggregate about $72,000,000, against $53,000,000 a year ago, and include $23,000,000 Boston and Maine notes: also $12,500,000 Amalgamated | Copper notes. Not a few of our best stocks are selling below intrinsic values at the moment, but the condi- tions are sagainst any permanent ad- vance for the time being. The imme- diate outlook is for an irregular mar- ket, and the upward movement will | ance of favorable conditions. HENRY CLEWS COTTON | First Shipload Through FOR JAPAN. from South Passes Panama Canal, —The the Feb. of cotton south amounting to went through the Panama canal October 23 the steamship Penrith Castle. bound from Galveston, for Yokohama, Japan. The same steam- ship mdde the return trip through | the canal in February with a cargo from Seattle for Liverpool made up principally of wheat Europe. It was estimated on her cotton car-.| go the ship saved $5,056, by using the canal instead of going around South | America to get to Japan. Even on the trip from ttle to Liverpool | there will be a saving of 23 days at $1,188 by the canal route. Washington, om 0 shipload tons, on for sea, or R FIRE. J $125,000 ROCHE Firemen Injured By Conflagra tion in Five Story Building. Rochester, N, Y., Feb, “Two | firemen were injured, one seriou and an estimated damage of $1 Two 27 000 | building at No. 19 Elm street today. Lieutenant George Turpin fell | from the water tower and his bac muscles were severely wrenched. chopping his way through doors and windows, Captain John McDonald was hurt by flying gl The building was occupied by man- ufacturing concerns. scale, | omewhat brighter | money mar- | undoubtedly depend upon the continu- | ! Missouri first | | Northern Pac RICHTER NEW YOomrg Representea by K. W. EDDY. shs. American Hoslery. shs. Landers, Frary & Clark shs. New Britain Machine. shs. shs. Stanley North & New Departure Com. Rule & Level. shs. Judd. New Britatn 25 whs. 25 shs. 25 shs. _N. GILFILLA STOCK BROKER 409-410 NATIONAL BANK NEW BRITAIN DIRECT PRIVATE W IRE TO NE ‘Phone 1621. "FINANCIAL NE AMALGAMATED COPPER GAINS ONE - POINT Stook Markel Moves Wikin Yery Narrow Limits. New York Feb. 27.—The stock mar- ket moved within very narrow limits during today’s short session, opening with gains in most of the better known issues, but soon falling back on moderate offerings. Traders seemed loath to make new commitments over the week-end in view of the foreign situation. Amalgamated Copper was the only speculative leader to m.—mlf‘est marked strength, advancing a point. The Pacifics and grangers were bare- ly ready while trunk line shares sold off fractionally. Specialties fur- nished their quota of the session’s small output, Petroleums showed weakness, while motor stocks were relatively strong. The closing was firm. Bonds were irregular. Wall street, 10:30 a. m.—Advances ranging from fractions to a point were recorded in today's early market deal- ings, Amal Copper being the strongost of the active group. Trading as light and of the usual week-end char acter, suggesting an evening up contracts. New York Central was the only important issue to reflect pres- sure. Specialties, including the motor shares, were strong, Willys-Overland gaining three pornts. The London mar- ket for Americans was lull, with mixed gatns and losses. of New York Stock Exchange quota- tions furnighed by Richter & Co, members of the New York Stock Ex- change. Represented by E. W. Eddy, National Bank building. February High Low 39% 38% 53% b52% 40% 40% 261% 26% 921, 92 61% 60% 10215 102 L119% 119 25% 94% 641 86% 53% 156 % 34% 26 Close 38% 58% 401 26% 92% 61% 102% 119 26 941 64% Smelting Sugar ... Tel & Tel Anaconda Copper AT 8 Fe Ry Co B & O .. BRT Beth Steel Canadian Pac Central Leather Ches & Ohio Chino Copper Chi Mil & St. Corn Products Distillers Sec Erie . Erie 1st pfd Gen Electric . Great Nor pfd Interborough Interboro pfd T.ehigh Val Mex Pet Paul 85 Co Pac NYC&H NYNH&H NYO&W .... L100% 104% 27 Penn R R Pressed Steel Car Ray Cons Reading Rep 1 & S pfd ... | Southern Pac Southern Ry Tenn Copper Union Pac Utah Copper U § Rubber Co s Steel Westinghouse Western Union N . | St ARGUMENTS CASE ARE Becision Probab for Washington, ¥ on the Georgia f sion refusing a w to Leo M. Frank, tence for the murd cluded yesterday cludede yesterday States supreme o ably will not be gt eral weeks. Should the suprg decision of the G nothing would the state carrying tence. If the rull cording to counselj case must go back for the taking of the allegations in writ were based. Entif T.ouis Marshall ¢ half of Frank, tol that the trial cou over the prisoner lence during the I'rank’'s absence | announced throu trial judge the truth of the question to be det er court if the suj | that as a matter | allegations were titled to the writ, this, both sides af truth of the alk Chief Justice Whi Solicitor Dorsey his time. Both Solicitor D General Grice, fd that the state co there had been n Frank's rights by view by the fede be had on a writ but was open only of error. No Coerg As to Frank's General Grice con coercion used by ing Frank and his court room. “Only a kind h most sympathetic gestion to counsel i FIVE LINERS FOR WAR 2 Sail from New ¥o of Passen| Paul New York, Feb. ger liners bound fo zone set by Germu jsh Isles, were ing] sallings from this passengers weos ab The Lusitania hi sengers booked fo | American liner, St. the Holland-Amerie dam for Rotterdan Havre, and the Bergen, were the o American flags “American Line” % high, were painted d Paul's hull flags were painted Rotterdam was ma tion by lettering off her name and des Connecticut Trust and Safe Depos A STRONG, RELIABLE CORPORATIA organized and qualified through years o trustworthy service, to act as Conservator, Executor or Administrator. CAPITAL $750,000. SURPLUS Connecticut Trust and Safe Deposi M. H. WHAPLES, Pres't. o~ HARTY¥