Omaha Daily Bee Newspaper, April 23, 1894, Page 6

GOOD AND BAD LLOYDS EXIST Two Forms of Mutual Tnsurance Which Are Frequently Confounded, POINTS OF DIFFERENCE MADE CLEAR Inter-Insurance Contrasted with General Insurance Lloyds—Frotection of the One and Irresponsibility of the Other Plainly Set Forth. Considerable Interest exists in Omaha in eonncetion with the matter of insuran peclally the mutual or Lloyds fire insurance. The Beo glves communication on this subject from Albert Andriano, local superintendent for Snow, Church & Co's. mercantile agency. He writes Lioyds Insurance originated pany of shippers and ship owners, the ty for year 1688, formed a protection aganst loss by sea, and owing the fact that their business meetings were usually held n maintained known as “Lloyds London,” me retained known as “‘Llodys London, by similar organizations up da The risks assumed by this company were signed by all the parties to the con- tract, hence the name ‘‘underwriters. For many y the Lloyds confined themesives 10 marine risks, and assoclations of the kind were formed in Holland and other seafaring countries, Including our own. Of late Nowever, similar have been formed for mutual protection against loss by fire and It is of these, m particularl; that this articlo treats hese companies 1y be divided into two classes, very appropriately termed interinsurance and general insurance Lioyds JThe interinsurance Lloyds Is a purely mu- tual association of merchants or mani turers, or both, organized for mutual protec tion, being, in fact, a very simple agree ment to indemnify each other against lc or damage by fire. The members of the so- clety insure ach other and only each other, each party to the contract becoming liable for such a | ze of the losses which may accrue as the amount of Insurance or hazard of the risk bears to the wholc For example One hundred form a Lloyds, each insuring In case of loss each underwriter liable for one-ope-hundredth part of the loss, which i paid into the general fund and turned over to the loser. In order to sim- plify the illustration in this ¢ we have assumed that all the underwriter carried the same amount of Insurance and have al- Jowed for no difference in haz would, of course, be some expens ning the business. In many companies each underwriter deposits a certain amount and a general fund is thus creat (1. The affairs of the company are entrusted to a person of experience, commonly termed the attorney, who manages the business, »d]u:(u losses and performs such other duties as may be necessary. He is responsible for his action o the members of the society and is al- Jowed a certain percentage for expenses, One of the largest and most succe sful of these companies counts a number of Omaha’s Jeading business houses among its members. An association such as this is, of neces ity, composed of firms with high commercial rating and of exceptionally good standing, for the very patent reason that no responsi- Ble house would enter into a contract of thi sort with concerns of standing not at leas cqual to Its own, and therein lies the main Joment of strength claimed for the inter jnsurance Lloyds. It is a well known that r stock companies lose large sums ach year from incendiary and other flle- gitimate causes. Men of long experience in the business have not hesitated to say that they could write insurance at a reduction of one-third on all rates and make money, pro- vVided the moral hazard element was elimi- pated. This is, of course, impossible, and the result is that the responsible in:urer pays his proportionate shal of the loss sustained on irresponsible and dishonest parties. The Lloyds being composed of men of the highest character only, the moral hazard would of necessity be of the best. This of itself necessarily reduces the cost of fnsurance in Lloyds companies and facili- © adjustment of lo:ses. No commis- e G R ey Wio conuticts the business of the company only reccives a limited percentage for expenses and remu- neration, usually 15 per cent on the amount of money passing through his hands. Driefly enumerated, the advantages of these socie ties are as follows: Being merely a form of co-partnership, the running expenses are naturally smail: the moral hazard is of the Dbest; the ratio of lowses correspondingly less, as compared with that of companies doing a general business, and taking into consideration the fact that many large con- cerns are unable to secure sufficient insur- ance from the regular companies, the inter- fnsurance Lloyds is a necessity and legiti- mate means of protection, the right of em- ploying which cannot justly be denied the careful business man. GENERAL INSURANCE LLOYDS. The general insurance Lloyds is primarily organized after the fashion of the inter- insurance Liloyds, with this very important aifference, however, that it does not limit its risks to its members, but does a general fire Insurance business, charging, therefore, @ regular premium. These companies are composed of ten, twenty or thirty under- writers,as the case may be, under the manaz ment of an attorney, who has power to bind them each for a proportionate share of loss upon every policy issued by him. This man- ager receives a percentage on all business of the company and employs agents and solic- ftors. The profits or losses of a company of this kind, as the case may be, arc divided among the underwriters or original mem- Yers, the policy holder standing in much the same relation to them as does the policy holder in a regular company toward its stockholders, For instance: John Doe applies for a yolicy of insurance for $100,000 from a com- pany composed of twenty underwriters. He pays a regular premium, and in case of loss each underwriter agrees to pay him $500, or such proportion thereof as the total of his claim bears to the whole. He does not he- come a party to the contract, and merely buys his insurance from the underwriter as e would from a regular company. The difference between the two forms of Lloyds Is obvious. 'These concerns are not organized for mutual protection, but for the mutual profit of their underwriters, who bear the same relation toward -cach other and toward the insured as do the stockholders of the regularly capitalized companies. Thelr agents make a regular bid for business and their affairs are con- ducted on the same lines as those of stock companies. This being the case, the general insurance Lloyds, business corpora- tions sceking the patronage of the publi are not entitled to the immunity from in- vestigation which may be justly claimed for private agreements, such as those of interinsurance Lloyds, and should be classed and treated the same as regularly capital- 1zed stock companies or mutuals. Notwith- standing this fact, these concerns are very reticent about thelr afairs, and claim ail the privileges of the regular Lloyds. In some cases thoy absolutely refuse to glye any Information regarding their affairs or business whatsoover. In others, the state- ments are 8o vaguely indefinite as to be far from satisfacto Some of these companies are composed of men of standing and finan clal responsibility, and claim to have larg amounts of money in banks. They do, how- widely scattered business of a mis- racter, accepting In many cases risks that have been rejected by other companies. Nono of these companies have applied or received admission into this state, and those accepting risks here are doing what Is commonly termed “‘under ground business,” @ class of Insurance which in the long run would ruin the strongest and most_carefully managed com pany In the world, a class of business usually of a hazardous nature, and generally written at cut rates. This form of Lloyds has no pald up capital, no assets, and of- fers no guaranty of its ability to pay, other than the names of | underwriters. These may be good today, worthloss to- morrow. In some instances they are worth less In the beginning, and the company Is organized and manipulated by an attorney for the very evident p e to defraud policy holders and pocket the proceeds. But cven admitting that the underwriters are sponsible, as some of them no doubt are, in case Of an action at law it would become a valuable with a com who, in mutual to inn, an a name retained to the present socleties merchants for $10,000. becomes cellaneous ¢ to sue each Individual under- his proportionate share of the have no legal representatives on whom service could be underwriter would have to place of residence, and in many as fifty separate suits instituted in order to re- necessary writer for loss. They In this state had, and each Ye sued at his some cases as would have to be cover on a_policy. The regular Insurance representatives in every this state, They have complied with the state law and been found thoroughly re- sponsible and able to meet their obligations Service on any of thelr representatiy would be held good and suits carried on and decided in our own courts DISADVANTAGES ARE PLAIN. om this statement It may be the general insurance Lloyds can ha compared with the Interinsurance cam and we have in them all the disadvanta of the old plan, with none of the advantages of the new; all the disadvantages of the new, namely, no stipulated capital plus general assets, with none of th advan tages of the old. In other words, all th objectionable features of a loosely managed stock company are here combined, with none of the advantages of tbe cl corporation for mutual protection., The general insy ance Lloyds, in addition to thfs, Is lacking in all the poi claimed in favor of the interinsurance Lloyds. Its expenses can hardly be than those of a stock com- pany, the moral hazard of its policy holders is not bette nd there is every reason to believe that it is not as good. It Is almost impossible to get at the financlal responsi- bility of the general insurance Lloyds, owing to the fact that it would become necessary to look up the standing of each individual underwritel The atto generally refuses to give information regarding the manage. ment and other essential points, claiming that his Is mutual society, and absolutely denying the right of the public to inquire into what he terms the underwriters’ private affairs, The opportunity for frand The right to organize the abolished in the state of New York in 180 and many persons took out charters just previous to the passage of the law for spec- ulative purposes. These charters command a high figure, and the business has been carried to such an extent that a Lloyds charter was offered for sale thro h the ad- vertising columns of a daily paper quite re. centl It 18 only fair to mit, however, that some of the Lloyds organized under this plan are composed of men of high character and undoubted Integrity, are conservatively managed, and do a strictly legitimate bus iny There no reason in this case why such a company should not do a successful and profitable business, but it must, never- theless, be admitted that the plan has many clements of weakness hard to overe is also a fact that their standing will materially injured by the numerous fraud- ulent concerns doing wildcat business, whose inevitable failure will sooner or later follow. ALBERT ANDRIANO. SUPREME COURT SYLLABI. have in companies fair sized town seen that dly be 1fes, evident companies was is very Points Decided In a Couple of Cases Passed on Recently. April 23—At its session here supr nz?(- court handed down cases the of which LINCOLN, last week the opinions in the follow Pillsbury against Alexander et al. Appeal from Hall county. Affirmed. Opinion by Commissioner Ragan. The it of Nebraska sold to Arnold & Abbott certain iand and gave them a con- tract for a deed; Arnold & Abbott caused this land to be surveved and platted into lots, blocks and streets, and designated as Arnold & Abbott's additien to Grand Isiand. They did not attach or acknowledge or cortificate to such plat as require ction 105, chapter xiv, Compiled Statute 1892, They caused £aid plat to be filed in the office of the recorder of deeds of Hall county. They sold and conveved parts of the land platted, describing the parts so sold as lots and blocks in Arnold & Ab- bott's addition: the 1 public_took pos- session of and used the land designated as streets on sald plat. Held: First, that the failure of Arnold & Abbott to comply with said_section 1 platting said land did not render the plat of the addition void Second, that Arnold & Abbott, by their acts, had estopper elves, their heirs and ' grantees from claiming any title to ignated as streets on the plat saild land de in_said addition, "Phird, that the acts of Arnold & Abbott in platting said addition amounted to a common law dedication to the public of the Jand Teserved on said plat for stree Arnold & Abbott sold and conveyed by wayranty deed lots 3 and 4 in blgck 18 of watleddison e @ oM oContbaryT = AN Abbott then assigned their state contract to one Thomas and the state of Nebraska conveyed the legal title of all said land to him. Thomas then conveyed the d lots 3 and 4 to Abbott. Held: That the legal title of s=ald lots acquired by Abbott, by his' convevance from Thomas, passed once by operatibn of law to, and vested in Pillsbury, the gantee of McCarthy. 3. Pillsbury then filed a bill in equity against Alexander & Marsh, to whom he had contracted to sell and convey the lots, {0 compel them to comply with their agre ment to purch 'y defended the action on the ground t Ishury' did not have the legal title to Held: the defens W had the legal Tight to the property entitled to a dec Specific b against AV rsh. 4. In an action brought against a vendee to compel specifically perform his contract o p chase real cstate, Such vendes i3 estopped from alleging, as efense to sald action a defect in his vendor's title, which defect was brought 1o the actual knowledie of the vendee at the time he entered into such contract of purchase; and where the evi- dence shows that he contracted to purchave such real estate incumbered with the ale leged defe State of Nebraska against Buswell. Excep- tion from Gage ounty Iixeeption sus- tained, Opinion by Commissioner Ryan. The act to establish a ate board of health, o regulate the practice of medicine In’ Nebraska:, ete. fs'as mueh directod against any 1thorized person who shall ope f s to heal, or prescribe for or otherwise treat any phy or mental allment of another, as against one who practices m icine, surgery and abstetrics as those terms are usually and generally understood, 2. The object of the statute es state board of health, eto is to prevent imposition upon the affictéd by ignorant and unqualified pretenders to healing power, nd anv person ot within the cxeeptions escribed in said act nd not having com- with ita requirements as to 5 cor: > who shall under any nse 0p- erate upon, profess to heal o s U:“ ollll"l'\\}w‘ tre II( nn; physical or mental ailment of another therehy renders. hime self Hable (o its penalties, hiin g ANNOUNCEM Lovers of amusement in this city will be royally entertained for three nights and Sat- urday matinee, commencing Thursday, April 26, at the Fifteenth Street theater, when that excellent an and stnger, Charles A. Gardner, will appear for the first time here in his new comedy drama, “The Prize Mr. Gardner will interpret his role of Karl, the prize winner, In the Ger- man dialect, and will set to music by Gustav H. Kline, composer The new songs include: Triumph,” “The Hunter," “The Butterfly,” *“Apple Flower Girl” and “Wand has Mr. Gardner ample scope to display’ his fine talents, but the other members of his excellent company have strong parts to portray. Besides th are marvelous scenic effects and a splendid mounting of the play generally. An ava lanche of a decidedly realistic kind is a sen- sational feature of “The Prize Winner."” production of be the bill offered by vd's theater for their labi by a vendor the latter to ablishing a Ing seven new songs Turner “Wedding Bells Blossoms,” “The Drill.”” Not only The big spectacular Spider and Fly" will the management of Bo patrons Sunday matinec and night, April This is an entirely new company and pro- ductlon, the one that made such a big hit in San Francisco during the Midwinter fair, and on their Pacific coast tour. The spectacular portion of the entertalnment will be pre- sented by a coterle of eapablo players, The latest acquisition minstrel entertainment of the Cudahy Packing company, who is the “baby Elk" ‘of Omaha lodge. He has at the unanimous request of his brother Elks very kindly consented to appear in his own eccontric specialties, and all South Omaha promises to be on hand to witness his stage debut. The full rehearsal of yesterday at Boyd's theater was most promising, and guarantees a thoroughly enjoyable entertain ment. Rehearsals will take place every evening this week at the Elk lodge room Tickets arg alrcady selling rapidly, and every seat in Boyd's theater will be o ) Pled one week from tomorrow eveulng. The to the Omaha 18 P. T. McG 2k ath THE OMAHA DAILY BEE: MONDAY, APRIL 23, 189 1, boxes will be sold by auction at the theater box office next Friday morning at 9 a. m. e — ZOLA'S STORY OF LOURDES. How He Gathered the Material for the Crowning Effort of is Life, considered to be without question Zola's masterplece and the literary sensation of the y The subject of alleged miraculons at Lourdes is full of Interest and mystery that even a less deft novelist than Zola would find it a fallow field for fiction. Then, the great crowds of all classes of people who atend the pilgrimages to Lourdes furnish the best of material for Zola's wonderful charac- ter studies M. Zola pil- grimages, That was in 1862, He went with the purpose of gathering materinl for a novel, and so impressed was he with the in- cldents and scenes he there witnessed that he resolved to make “‘Lourdes’ the work of his life, He has been steadily laboring on the story ever The Bee has secured this great work for its Sunday On his return from London last fall M. Zola gave the finishing touches to the novel He had extraordinary opportunities to | gather mate 1 while at Lourdes, for the priests thers, who knew the purpose of h visit and were aware of his critical mind, re him as a guest of distinction, con- him I the offices, permitted him the miraculous plunge bath, and him inspect the patients—a thing not a priest or a doctor ever did “Lourdes” s ar again, himself went on one of the since. Jsstues celved ducted to visit even let nobody before. M. Zola, speaking of his new hook, says: “Lourdes,’ will not be a ndvel, properly speaking, but rather a sort of ‘mystery’ in five days.’ My book, which is an account of a pilgrimage, fs divided into five days, ver which a pilgrimage extends. It is possible that, instead of dividing the into chapters, 1 may divide it as fol st day,’ ‘second day,' ete. This imply a different shade of meaning. pver, there is hardly anything about love, that is, of course, in the u e of the word tly, the plot the ‘Debacle,’ there The period in which nnfold themselves is thre That wu just my great figure of Bernadette intere deal. T am fond of this girl, so charming and so sweet, whom I have bee able to study thoroughly. thanks to the documents I have been able to put togethe She must, thereforn, have a place in ‘Lourdes,’ and it is this retrospective—I may say | al gide of the book which gave most trouble.’ We wonder how many readers of The Bee have any adequate conception of the extraor- dinary speetacle which M. Zola has judged it worth while to journey so far afield to witness. The ignorance, and, indecd, the in difference in the matter of Lourdes evinced by most people in this country, who dismiss the subject as one entirely unworthy of serious consideration or even of passing in- terest, must be the apology for the following brief account, both of the origin of the de votion at that place and of the remarkable scene of which M. Zola has been a witne: One February midday, in the year 1858, one of three children, a little girl of 14, was observed by her compa with whom ‘she had been occupied gathering wood by the side of a stream. suddenly to fall upon her knees before u small grotto in the overhanging cliff and there to re main in pr about a quarter of hour On raising from her knee: d tu ing to the other children sh ked them if they had not seen anything, and on their replying that they had not she informed them, after some hesitation, that just as she was stooping down to take off her shoe with the intention of cros g the stream she had heard a sudden noise, like the sound of a great wind, and on looking up toward the little grotto had seen the rock gloriously illumined, and in the middle of the flood of light, with her fect seeming to rest on a large wild rose tree that clambered across the face of the cliff, stood a lady clothed in_dazzling white, who smiled and stretched her hands to her. Of course this story was recelved with ab- solute incredulity by the child's mother, who said the whole thing was nonsense and for- bade her going back to the grotto. A couple of days after, however, permission to do so was obtained, and she repaired thither, accompanied by her mother and some little friends. After some waiting and praying the girl's face suddenly lit up, and, Lol S ““Look; there she is! Don't you see her?" But none of them saw anything except the _bare rock and the wild rose. A third day and the same thing was repeated, the lady on this occasion malking the child promise, s0 she said, to return every day for a fort- night to visit her at the grotfo. The story was soon all over the town, and first 100 people flocked to the grotto to wit- ness what was going forward, then 500, then eral thousands, until at the end of a fort- night over 20,000 persons made their way from all the ‘country round and thronged in dense masses along the foot of the cliff to await the arrival of the child for her daily visit. In all, the number of these apparitions amounted to eightecn, after which they ceased; and, notwithstanding constant visits to the spot, the child was never again favored with the sight of her beautifal and radiant lady. During one of the later apparitions the girl, apparently obeying some sign of the mysterious figure, was seen to go to a cor- ner of the grotto and scratch with her fingers In the dry earth. The crowd, much astonished at this proceeding, were yet more surprised when they saw her appear to take ater in her hands and begin to drink. They thought she was mad; when suddenly a narrow ribbon of water was ob- served to spring from the place where she had been scratching and made its way down toward the river. In a day or two it had grown to be a considerable spring, and in a short time was caleulated to give over 120,- 000 litres of water each day. Already be- fore the cessation of the apparitions some startling occurrences had been reported. A ), for instance, who, owing to an explo- sion, had lost the sight of one eye twenty years before, regained it instantancously on applying some of this wonderful water. The doctor who had long attended him certified to its ing been an incurable amarosis. In 1872 the number of pilgrims in six months amounted to 140,000, and a_great national French pilgrimage came to be or- will Mor love ser . very slender. As in arcely any the events or four y difficulty me a great related st me o mnaleal ganized every year. The lessons of simple faith, touching de- votion, radiant hope and sublime resignation learned at Lourdes during the three days of the pilgrimage are as beautiful and valuable to the most hopeless skeptic as to the mo: fervent and believing Christian. Last year some 20,000 souls themselves at Lourdes on August 20. Over 12,000, bringing with them 1,100 sick, had come from Paris and the north in seventeen special pilgrimage trains, The sufferings en- dured by these poor people, in every stage ss and disease, during those long packed in suffocating and crowded res, one cannot readily imagine, It is horribie to contemplate what they must have undergone on their return journe wearied out by the strain of the last three days, and many of them with the hope of cure, so long and patiently cherished, de stroyed forever or deferred another dreary year. presented et WESTER) ENSIONS, Veterans of the Late War Remembered by Government. WASHIN April 22.—(Speclal to Bee.)—Pensions granted, issue of April were Hollan Rye, Wakeiield, Dixon 1 ete.~Catherine Mulcahy, Omiha, Tow Original—Miles H. Coleman (de- ceased), Harlan, Shelby; George Stephens, naparte, Van' Buren: William Gibbs (de- coased), Harlyille, Delaware. = Tncrease. Madison (. Stave M Polk. | Original widows, etc Shawhan, Morgan, Vulley lorado: Origl apahoe; Je El Pas ), ete Che 10, Martin Vandewege, Knut T widows, Douglas. Original ster, wlett, Den- Thompson, Law- | harles O'Neill | eblo Original Pulver, Pueblo, Incr Pueblo, Celicl A8 B M rence! (deces widows, Pueblo. South Dakota vison, Armour, Additional Douglu e Brovit Lon Schwear ond and Martha streets, has been arrested for beating his wit while drunk Saturday night. = Mis wife says this has been a habit with him T. Tracy and L. Gavin, two boys, got o a dishute yesterday after the matiiice at the Fifteenth Street theater was and had & Aght in the middle of the John A. Mor- over street Both were arrested, ARE WAITING ON THE TARIFF Mannfucturers Rdady to Resume Activity | When the Uncerthinty is Removed, RECOVERY STILL FOUR MONTHS AWAY Hank Tax Repeal Discounted in Wall Street asticity of the Currency is Needed— Rallrond Earaings Are Still Disap- pointingly gmall-The Outlook. NEW YORK Clews head of the ba & Co., writing street, says “In our review of last week we cited some of the 1ses which are producing a condi- tion of suspense in the Wall street markets and temporarily affecting prices unfavorably. Those influences still remaln in_operation with the effect of encouraging bear sales, | having little effcet upon holders of | Out of the uncertainties attend- ing the situation at Washington, one proba- bility is coming out with more distinctne namely, that the tariff bill is conceded to be sure to pass, either with the income tax attachment or without it. But the time for Its enactment now set back as far as next August. This {8 a discouraging pros- pect, as it means that the manufacturing in- terests are to be kept In a state of com- pulsc inactivity for two or three months longer than has been anticipated. — Under this state of affairs it is out of the question to expeet any noticeable revival of general business until the fall months, whereas such improvement h been hoped for about mid- summer, This, however, means disappoint- ment rather than positive discourage- ment. In most branches of trade the symp- toms indicate a readiness to resume business upon an active scale so soon as these legis lative restrictions are removed. It is con- ceded more and more that there Is a large measure of purchasing ability among the community at large. and that naturally leads to the inference that, when this long protracted restraint upon both production and marketing is withdrawn, there must be a very sharp rebound of activity, in order to reor the suppli that have been sub- jected to a twelve months curtailment, rang- ing between nd 40 per cent. But while these prospects counted upon with almost entire unanimity, the fact that they stand forward some four or five months in the fu- ture prevents them from being discounted in Wall street operations, and inclines specu- lators to a Micawberish attitude. ABOUT BANK NOTE LEGISLATION. “It remains to be seen whether the pros- pects of bank note legislation may become an element in Wall street movements, There can be no doubt that this question is receiving more serious attention in bank- ing circles than it has hitherto. It has so far been discredited, because there was ap- ently no chance for a conservative and yet effe ve measure being adopted by the present congress. Plans, however, have been introduced in the house which are daily gaining confidence for their safety, whilst the faction favoring the unconditional repeal of the 10 per-cent tax 1s in a steadily pinishing minority. It thus seems po sible that something may be expected this way calculated to reifeve the very atisfactory condition of our curren tem, and to rationally satisfy the clamor for more money, which has hitherto ex- pressed itselt chiefly in a demand for more silvel The rising tendency in this direc- tion deserves watching, for there can be no doubt that any measure calculated to increase the elasticity of the currency and to divert from it the dangers connccted with silver inflation would affeet favorably all kinds of investments, RAILROAD EARNINGS. “Concerning the immediate future of the market, moderation is advisable. The chief. if not the only, drawback to a further rise is the continued decrease in earnings, or a lack of freight. It fs true trafiic is improv- ing and must keep pace with the expansion in business, but the latter has been slow and disappointing. Strong efforts are still being made to maintaln rates, but under present conditions wncre or less cutting seems in- RO BT have” MoWR" dloferats §h gross, varying from 10 to 15 per cent. For a time it was possible to offset these losses by extreme economies .and postponement of ordinary outlays. The limit of advantage in this respect has been reached, and it div dends are to be maintained it must be either through better traffic or lower wages. The latter coutingency is certainly to b- avoided, for it would mean a long and wasteful strug- gle, and fortunately the outlook fs bright enough to render that only a remote possi- bility. One road has already reduced its dividend, and others may follow. This, how- ever, will not be a surprise, such a result having already shown itself in present low prices. It must not be forgotten that at these low prices stocks have fallen Into strong hands, Investors may not be willing to buy, but the large holders show a de- termination not to sell,’ which augurs well for the future of the market. In an abund- ance of money at low rates they have a powerful aid, with which they can easily stem any decline umil natural influences again assert themselves on the side of an advance. IN THE prjl 22.—Henry \king house of Henry Clews | of the situation on Wall | while long stock. is in un- LONDON MONEY MARKET. Stringency Vi an ished During the F Rates Fell Sharply. LONDON, April 22—During the p week the stringency in the money market vanished. Four months’ loans were ar- ranged at 1 per cent discount. Rates for money also fell sharply and holders of three months' bills were so confident of a further decline that many of them are re- fusing to accept a present rate of 1 per cent. The Bauk of England’s stock of gold con- tinues to accumaulate. Another £1,600,000 is enroute apart from the probable American shipments. Business at the Stock exchange was restricted. The movements were irreg- ular. ere was little change in home railroad securities, The foreign market was quiet. French operators were occupled with the coming loan to be issued by the city of Paris. German operators devoted most of t Week their attention to the new German loan of 160,000,000 marks. American railway se- curities after a general set-back, which was largely due to “selling from \Wall street, partly recovered at the end of the week. There were several substantial adyances Saturday. The general disposition is in favor of holding securitics, as it is believed there will be a recovery before long. In the meantime all railroad securities show a decline on the week. Atchlson, Topeka & Santa Fe mortgage bonds, Mexican Cen- tral, New York _Central, 'Reading Ists, Illinois Central afrd' “Wabash incomes were all over 1 point_lower. Anglo-American Cable was up Y% per cent, while preferred was 2 per cent higher, MANCHESTER MARKE Very, Unsatisfactory Departmentsut Present. MANCH R, Appil 22.—Reports very unsatisfactory in all departments and there has becn a {urnover from poor prices to poorer. The payeity of orders is becom- ing very marked and irregular movements result therefrom,.many makers preferring to accept low rateg, ko an entire stoppage or working to stock.” However, eastern mar- kets are sending lurge orders at a low price, and though wostly impracticable, the exist- ence of such orders is regar 1 as encour- aging. Bleaching cloths, low skirting, Jac connetts, mulls and also dyed and colored cloths are all in demand for India The was nothing doing for China. Egypt was mod ately active and South American orde have been increased, but thelr execution often delayed, owing to financial dificulties, Home trade has been unchanged and slow Yarns were rather depressed and gene 14d lower for business of any welght spinners’ position s growing worse, © good, the spinners are isiderable time and pric rench cotton industry occupled. WEEK IN Reports Are noAn are firm but aro quiet, [ fully s Mark ar New York Dry YORK, April 21— In been @ quiet N though o fa emand his retirned a go NEW Voluiug oL salew thut was very largely nsrvaued | to_ handle stock Indifferent tone to gave huyers a big compelled a lower Lutchers did some beef men were was good on_some the | of some ot the v { shipments east and the reports from Chicage advant and alniost range of prices. Outslde buying, and loeal dressed also after supplics, Cogipetition Enough (s hol prltes falrly steady of the good, handy lght steers, but the general market was Ge to 10¢ lower thar Friday, and on the heavier grades some dealors were quoting a 100 to 16c decline There were some pretty decent cattle here, but the general quality of the offerings was not more than fair. Trade was on the dull and dragging order throughout, but the close found 1ittle of any consequence unsold The cow market today was a_falr of what it has been all woek. Offerings Timited that nditions ¢ cattle market out lictio figure in ¢ The demand Nhas been good, and pric sustained on tho fair to good stock. Com mon and canning grades have shown some weakness, There were loss than a dozen loads all told on sale today, and prices were frmly hell. Calves were in falr demand and firm, and the market for rough stock was Just about steady The stocker and fecder trade particularly brisk, and while carly part of the week the gomewhat In excess of the supply, conditions lately have been somewhat reversed, and trado today was dull, with a liberal number fn yard traders’ hands. The fecling weak, and the volume of trading rather limited. Good to cholee fesders are quoted at from $3.10 to $3.66; fair to good ai from $2.75 to $3, and lighter, commoner grades, at from $2.75 down. HOGS STILL A While hog prices all from 10¢ to 16c higher than close of the market is from 5 through dellverles on previ raflrond fAnest qualities of blenched an quickly an recalved. For mand was more moderat Philip Mayer will sell at auction g of turkey red fancy flannels, while on I W. L. Stronk & Co. will have n peremptory of bianket flannet Toths very quiet Ay squares, Sales of the w Sttons fve ther gr the on_Th CHICAGO GRAIN MARKETS, Trading and Closing Prices on Saturdny. CHICAGO, April 21.—Trade today and markets in the weak, Wheat declined 1y Oats are without change rather weak, but price ch were not very materiul very quiet, but persistently firm, Ifor May there were buyers at 60c, as against 597 at the clo yesterday. The May future held steady and fluctuated within Ye range. Th Californin situation was the chief cause L the firmness, Northwest advices reported a backward condition of the seeding Noth ing to speak of hag been done In north Min nesota and North Dakota, and the weather has been so cold since the middle of March that wheat sown in South Dakota has not come up. le was o dull here, however, and =0 na that the selling of a very small amount which had been bought yesterday caused a regular stampede market began to break and quickly clined, and closing prices were about lowest of the day orn was wenk without feature till hour, when wheat grade, and furthy corn, with the close ures’of the session Oats were quiet throughout the with buyers plentiful, but little stuff of. fered. There was good activity In provis- fons. Pork was rather easicr, and in- the end closed 5o to Tlac lower than on the d than last Saturday. Receipts continue lib higher, and ribs unchanged. = = eral, considerably more liberal than at this stimated receipts for Monday: Wheat, | time last year, and there has been no radical cars; corn, 250 cars; oats, 230 cars; hogs, | change inthe general con'itons surrounding , 000 head the trade Among the uments in favor of The leading futures ranged as follows continued high or oven higher prices ad High, | c1gse— [ vanced by the “bulls” is the quality of th hogs. Light 1 light mixed stoff is coming forward freely, while the good, matured hogs are conspicuously scarce. Dealers argu that this Indicates emature marketing that the hogs that are coming now under ordinary circnmstances should be fed for two months 1 r. High prices are bring- ing In the hogs that ought ) come two months later, and this houn to make a considerable <hortase alonz in Vay and Jun>, and possibly in July. At any rate both hogs and provisions are comparat vely strc Receipts today were light and the m; dull and lower. Shippers bought nothin, the railroads fused to take the purchases east, and on account of lower markets every- where else speculators were not inclined to do very much. Packers wanted the hogs lower, and in most cases sellers had to cept prices nearly a nickel lower than F day for their offering: The big buik of the fair to good hogs of all weights sold at $5.05, with some of the best at $.07% and $5.10 and poor light mixcd stuff down to Busi- ness was rather dull and dragging early, but rather firmed up toward the close, and the pens were cleared in good season. On Friday the hogs sold largely at $5.05 and $5.10, and one week ago today the bulk of the trading was at $5.10 and $ o | SHEEP—Trade dull. For the second time vibs | this month there were no sheep received. ilders | The week's receipts, however, were compara (boxed), | tively liberal, some 7,646 head demand has been good from all local houses, an easier feeling has prevailed, owing to heavy receipts and lower markets east Prices, however, have not seriously decline and desirable muttons and lambs would sell readily within 1sc to 25c of last Fair to good natives are quotable 37000 b fair to good weste 504, 000 426 n and stock sheep good to choice 40 to 100-Ib. lambs at §3.50@4.7 Receipts and Disposition of Stocte, 1 recony e and disposition of stoek assnown 4ot the Union Stck Yirls ¢) npany iy four hours cnding at 5 0'¢lock . i ; Features of t light rather was end were and corr Provisions es at the Wheat opened were close iple the fat valuos s wore been the has 1o during demand de- th was and lalf down in tig- Trade was light within the last started on the weaknoss develop the bottom PROBLEM. averaged last week, the to 10 lower session, week have s2 Onen | 59 50, 0196|0130t Com No. April 281 M 388034 Junie. Is July Sept Pork por bbl May July Lard. 100 16% Apiil Ma July Tons were s follows Dull. N FLOUR WHEA'T oy OATS spring, $9%e; No. 3 spring, 33%c; N , S@ite; No. 4, 48 FLAX SEED. TIMOTHY SE PROVISIONS Jurd, 6,005, Prime, $4.254.20. ek, et LU, $2.7047.721%; ¥hort ry' salted sh oxed), Clear sides 871400713 WHINKY 115 short Distillers’ finished goods, per gal., Unchanged The following were the recoipts ana snipments for today TArcles. Flour, bbls Wheat, bu Corn, bu. [Recerpta S 17.000 the butter mar @lsc. OMAHA LIVE STOCK MARKETS. Recelpts for the Week Foot Up a Ve SO SINrY Total, SATURDAY, April 21. Receipts have been very unevenly dis- tributed this week, but the totals, compared with the week previous, do not show very much change, although compared with the same week last year there has been a good increase all around, The figures are as fol- lows: v Fair —| Head | Ca DISPOSITION. ATt Omala Packing Co.. The G. H. Hammond Co. Swithand company. - ... The Cudahy Packing Co.. Nelson Morris. A. Haas. ... i Recelpts this week hibbérs and feeders. Receipts last week.. Same week lust year. . Receipts past § weeks First 3 weeks March Same § weeks last year, As cattle values have, in a great measure, followed the course of receipts, the market has been subjected to rather violent changes. Starting out rather stronger on Monday, pri took a drop of 10c to 15c- Tuesday, when the supply was heavier than it has fnferiorito R AR X0, been for six months. On Wednesday there | *'Ry\iiips was a still further softening of values, but | head: light _receipts on Thursday and Friday | $.0 caused an advance of 10c to 15 and a good part of this advance was lost today. Com- pared with closing prices a week ago, light cattle are selling very nearly the same,while from a_variety of causes heavy cattle have declined 10¢ to 20c. In general the favorable conditions prevailing last week have pre- vailed in a great measure this week. Specu- lators and eastern butchers have done a falr business, and there has been a good export demand.” Local dressed beef men have all been free buyers, and the very uneven dis- tribution of the receipts is about the only reason that can be ussigned for the fluctu- ations in prices, There has been a good undertone of strength to the trade through out. uis Live Stock Market. . April 2L—CATTLE—Receipts, 100 jents, 300 head; market 10 higher for week: Texas steers, closed at 750 (0 1130 b, a6 native steers, choice, 1400 Ibs., ex: POTL, $4.40: fair to medium shipping, $3.7504.10, Recelpts, 1,600 head; shipments, 3,600 market duli, 5@loe lower: best lght, $5.2) for head medium hipments, mised 1,000 natives Recelpts, 400 market lower; 90; clipped by Kansa KANSAS CITY, ad; weak ( City Livo Stock Market. April 2L—CATTLE R, Viwer; closing beef stecrs, $9.89604.451 G@3.85; native cows, . bulls, $2.7063, s, 7,000 head; strong @aN; heavies, packers and mixed, lights, yorkers ‘and pigs, $1. SHERP - Recelpt good week on poor bl $1.00° market steady; ., April 22 titicates op 85 ighest closed at 8 . 1,000 Dbls,; bIs.; runs, b, jowest, $5 s, 110,831 Stock ¥ The following are the cipal cities Sut cipts at the four prin- SLOW SATURDAY TRADE. The market today was slow and generally lower. Receipts were comparatively heavy twice as heavy as on Friday or on last Satur- | | day, and this, together with the restricted | * shipping demand ocasioned by the outh Omal Chicago s ¢ Louls.. 4,000 100 refusal Portrait of a Lady who has cleaned house all day without Pearline—and she’s had a lively time of it. There’s another day just like it coming to-morrow—and more afterwards. Now, see the difference. With Pearline, all this hard work would be easy; through in half the time ; nobody disturbed by it, Pearline cleans, without the lcast harm, everything that water doesn't hurt. 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For sile by Goodmay Druk Co.. 1110 Farnam St., Omiakia: Camp Bros., Ceuzoll Blulre, lowa. mall weak organs. 18 bociise ninety p aro tronbled with 10 cre Without an oper 7.000 ¢ YNERVE REEDD, M dertul ren cak M d, Nikbily Kmis MANHOOD RESTORED UAaLeCd Lo Curo il NEryous dlveuss buch elulness, | s of Do by over ulants. wh Vet pock Yor. Insanit Wl ro i Wi wive'a writle e g ihin. ASk TOr 10, TAkA Do Oihar . Write for free A / i plain wrappur, Address NERYESEED CO.) Musouic Tumpio. Cuic ¥or sale la Omaha, Neb., by Sherman & McConuell and by 5ulp & Co., Livsgisis Tifirmity are 1 and | While the | ol a ™ IS THE BEST, s RELIEVES PROMPTLY and & CURES QUICKEST, o 4, 5 3 e 3 N ards ver s O The papors have thrown 1ight on many 0be seare Dotnia i the hstory 0f the war. and DO e (e A frim man who wourd 0L OUL W1k BV [£1Ven IREIF e XDEFHencen Evehing Poat, S Hrancineo. oo Just Note This List Of Contributors to General Grant, General Sherman, General McClellan, And Qenerals Don Carlos Buell, Lew Wallace, Jacob D. Cox, Q. T. Beauregard (C.S. A.), James Longstre:t(C.S, A,y Montgomery C. Meigs, John Pope, Joseph L. Johnston (€. S5 AL), H. W. Slocum, The ablest vivors ‘of ‘the on Both Bldes have Sontrinuted to thin Work their Fecols lections of the struekle, fnd ‘Al ot e fre siill 106 Reur the ereat i Tl the' T Nistoric perapo tive! this workogn | D- He Hill (€. 5. A), lay (Iu\wu‘ h;‘ be | Henry J. Hunt, fmpariial. and pic: | 0: 0. Howard, que ' record | W. S. Rosecrans, icih s only - the % greatest hisiortan | James B. Pry, gould caual, while| Ambrose E. Burnside, W the aitiniionae: | A rd 10 de Fitz John Porter, Erasmus D. Keyes, Wiltiam B. Franklin, John C. Fremont, Q. A. Gitimore, Darius N. Couch, William F. Smith, Horace Porter, R. E Colston (C. S. A.), Gustavus W. Smith (C.S.A), J G Walker (C.S. A, Franz Sig:1, Stephen D Lee (C. S. A. John dibbon, James H. Wilson, Adam Badeau, E. M. Law (C.S. A), John D. Imboden (C. S. A.) ¢ William B, (C.S. A, Emerson Opdycke, Joseph Wheeler (C. S. A.)y/ Wads= Hampton (C. 5. A )y Oscar H. La Grange, John S. Mesby (€. S. A.), ) John Taylor Wood (C. 5. A, Henry Stone, Thomas L. Snead (€. S. A )o §. H. Lockett (C. S, A ), Huntington W. Jackson, H. Kyd Diuglas (C. S. A.j John'S. Wis: (C.8. A, | Major W H. Powell, J4S. Fullerton, Charles P. Stone, - E. P. Alexander (C. S. A.) Basti W. Duke (C. 5. A.), | ) Rush C. Hawkins, 5 Silas Cosgrove, Thomas Jordan (C. S. Ay Bradley T. Johnson i (€. S, A), A Julius White, Philippe, Comte de Paris, Admirals J David D. Porter, Henry Walke, Danlel Ammen. C Colenels 0% ot | T. W. Higginson, 8 I parRuRALDS! w“«':“'r‘sm Preston Johnson | on both sidas 1o write uecounta of [ J. A, Multigan, Captains the varioua baitles ficha B nomey HiSktraicd "oel | dames B. Eads. wmes.~Public| John Ericsson, Philadel- [ J, riciatosh Kell (C. S. A )4 Isaac N. Brown (C, S, A.)s James Parker, Horatio L. Wait, And many others. The Century War Book is history It is final and| wur- 1d aracy it bids fair to remain nn- equaled. " Chroni- cle, San Franelsco. Students of American history Quglhit to be grate ful for the oppor- tunity of arrlving at an approxima- tion to the trath by the ald of the mass of direct evidence on both sides. and of “the "excellent maps and = dia- ring profusely. ut not' 10 pro- fusely. scattered through _the umes.—Athe: Lindon, vol- eum England, They have the fntereat of autobl OgTADDY 48 Woll ne of history. While those volumes will be especially - tractive ta (he vet- 08 of tho war. they will not bo lews o 19 helr chlldren. For the wtudont of military fetory they are i1 peo s a. Chrigtian tor. Boston. le Regi) The Century Co. has' Q. I written by its makers. absolute. No other history can compare with it. | Don’t be Imposed Upon. | The other (alleged) war books are not histories, however big their pages, or numerous their illustrations or little( their prices. You don't want the sen-| sational vaporings of irres ponsible vy correspondents. The a‘:tury Is the One Great Historyl pikeys with tho cer- of " gottine tho" truth ard to the e 16 tr gl for the Untop il those now livigg 1 canaot fall to DY & of the et Civil War, Beacon. Hoston FOR CITY War Book Coup READERS s of “Centurg) dates, togeih The Lice cach part us me sued, to office FOR OUT READER Mail dirte [ ot war [ o OF TOWN War Book" 0 with Dept The In coln to Century Bee. U particular to full name and address; @) incl 19 War upons und “The Century other the ary e nts In ordering Hook'* Includ do not letter o your will deluy ensuey