Omaha Daily Bee Newspaper, September 2, 1895, Page 6

e ——— e e e e ————— = DOES THE WEST PAODUCE AND THE EAST OWW? In All that Goes to Make Life Worth Living the West is Not Behind the East. POPULAR ECONOMIC FALLACI D AND EXPOSED ES EXAMINE The Two Distinct Classes of Settlers Engaged in Developing the West—Re- sult of an Epidemic of Borrowing—A Comprehensive Sketch of the Wostern Farmer, Drawn by Hon. Robert P. Porter, Editor of the Cleveland World. s e NORTH C| DIVISION. 5 Michiwun Wikconsin Minnesola W Dukot Colorado New Mexic: Arizona Vtuh Nevada duho Washing Oregon 1ifo; 423,255,915, 509,81 6,18 %090,00018 2 0§ LT0 16T 0000|1208, 180543 528 3210,000,000] 1,560,253 15800 7,163,053 247,338, 501,214,398 0,000,000 240,007,000, 4 .m.,-w] 41,000,000 114,000, 000 166,009,000 2,000,090 62,000,000 164,000,000 3 00 k6,083 5,063.4°4 22,161,872 5 601, 468 25,930,673 7,874,613 “eDakota territory. The above 000,000,000 out the $63,000,000,000 1 located in the west, About halt the estimated wealth of the United tates may be found here. From a per cap- fta of about $200 in 1850 it has increased to & per capita of $1,130 in 1890. In the estimate +for 1890 1 make up the budget as follows: New Weat, ble shows that $32,- of Real estate.... Live stock, farm menis, etc... Mines nd qua Gold in sitves bullion Machinery i duct on hand........... i Raflronds and equip- ‘ments, Including street raflways . ¢ Telegraphs, 1 whipping and canal Miscellneous ... 24,238 544,343,485 70,178,250 14,647 1,070,003,098 450 i Totat 915,49 $6,811,4 . ot ror ! g, 07,004,864, RELATIVE IMPORTANCE. 1 hear those who of late are inclined to un- derestimate the relative mportance of the west to the east say the above afterall is merely primary wealth. The location of prima- ry wealth by no means determines the location of It ownership. An easterner gometimes in Jgnorance of the west ls apt to grant that the west has produced and possesses great wealth, but the east owns perhaps the greater portion of it. To which I once heard a breezy westerner reply: ‘We have the wealth and you eastern fellows have the photograph of it.” As a matter of fact neither of these statements are true. I have shown In the mortgage inquiry of the eleventh census that western people hold a much larger proportion of thefr own securities than some eastern people Imagine. What is true of private mortgages on lots and farms is equally true as respects state, municipal county and school district bonds. Two- thirds of the farms owned by those who work them are free from debt. It is safe to assume they have very largely paid for themselves and are free from the bondage of money lenders, east or west. The ac- cumulations of these thrifty farmers will continue, and these accumulations have gone and will' continue to go Into western secur tles and western enterprises. The west has made more than a start in manufacturing. Over one million and a hait hands engaged in manufacturing in the principal western states, without counting at least 200,000 more in mining, can hardly be termed “only a start on the right road.” MANUFACTURING STRENGTH. The review writer who recently ventured this statement in one of the leading Ameri- can reviews perhaps did not realize that the art made in this direction by the western states now nearly equals in number em- ployed the aggregate similarly employed in all the New England states with the great ate of New York thrown in. That it Is not far behind the aggregate number em- ployed In the three North Atlantic states of New York, Pennsylvania and New Jersey, while the start on the right road in the west exceeds by 72,000 persons exactly the total number employed in manufacturing in the two greatest manufacturing states of the unfon, New York and Pennsylvania, combined. Every year the western states become more self-sustaining,and while rapid and cheap transportation brings about cur- fous anomalies, such as the canning of west- ern corn for consumption in the far west in Baltimore, these are but Incidents and can not be taken as evidence of elther the Incapacity or lack of enterprise or decadence of the re- glon we are discussing. Without denying the mutual interdependence of the east and west, 1 am inclined to think that in all that goes to make life worth living the west is very little, If any, behind the east. Its citles are, a8 a rule, as well governed. Its buildings as handsome, its homes as comfortable, its sys- tems of street rallways more convenient, its clubs as magnificent, its theaters as at- tractive, its education as well directed, its blic libraries and churches as numerous, ts people as moral and, taken as a whole, its clvilization as healthful and hopeful for'the future as the older settled communitles of the North Atlantic states, EXPOSING POPULAR ERRORS. Having dlsposed of these generallties I next propose to analyze, and to a certain extent expose, two popular eastern and Euro- pean errors about the west, namely, that the primary wealth which I have shown exists there is owned In the east and in Europe: that the west Is unable to pay the princlpai and Is staggering under the burden of inter- est. In short, that it has merely shifted this burden from year to year like a bank- rupt renews his notes in the vain hope that by some lucky accident he may extricate himself. To this end I propose to make a brief comparison of the actual debt, public and private, and the relative debt to value of property of the west with that of the cast. First as to the public debt we find that the total debt other than national, that is, state, county, municipal and school debt, for the United States in 1890 was $1,135,000,000, as nst $1,123,000,000 In 1880, Surely this Is a small Increase in ten years. Only an increase of $12,000,000 against an increase In the value of property of $21,000,000 and an_addition of nearly 13,000,000 in population. perlod, under republican administrations, the national debt decreased about $1,000,000,000, so the burden of what may be fermed public debt has been greatly lightened for the entire country. But how about the north, central and western states? Possibly the reduction of debt other than national has been in the eastern states, which, according to some authorities, reap such immense revenues from the west. To some extent this is true. The newer communities have needed more things done. As a rule, however, the expenditures have been fully justified and for purposes necessary to take care of the Increasing population. To begin with, in the states under consider- tion, statedebts have been reduced, county debts slightly increased. The principal in- crease has been municipal debt, namely $62 600,000, and in school district debt, less tha $16,000,000. In short, the per capita of this entire class of debt was $14 in 1880, and ex- actly the same in 1890. The heavy decrease of the national debt from $38 per capita in 1880 to $14 per capita In 1890, affecting all rn.- of the country alike, has actually re- uced the burden of pubilc debt in these states when compared with 1880. This, after allowing for the great increase of debt dur- ing two years of Clevelandism. PUBLIC DEBTS COMPARED. , as I have shown, 500,000,000 to $32,000,000,000. debt, other than states, representing as. they do half the egate value of the national while the sim- and southern , representing the other half of the wealth of the country, s . From this we see that the of the public debt is more than from $18, The total national, for During this | double iIn the eastern and southern stites, while the aggregate valuation of property is about the same as In the north central and western. These figures Indicate (hat the eastern states likewise have to provide for an interest account of their own. The na- tional debt of course bears equally on all the states. It must be said by any dispas- slonate observer that in the matter of public debt the western states will stand the most careful scrutiny by the most conservative critics. The highest rate of increase in debt was for educational purposes, and the next highest rate for municipal purposes—to build water works, lay out streets, put in drainage, to light, police and improve the municipal life of the people. It may safely be said that so far as concerns public debt both the old and the new west are on a safe and solid ground. The purpose for which the indebtedness was Incurred was legiti- mate, the amount is not excessive when the resources are taken into consideration, and with a few possible exceptions, the money has been prudently expended and the rate of interest 1s reasonable and just. Whatever may have been true of some of the county debts contracted In the early days in the west, when the credit of counties was pledged for railroad purposes, the debt of recent years s an honest debt and will be paid with interest In full as certain as the day for liquidation comes around. A good deal of this debt Is held by western In. vestors, and the credit of the states, counties and municipalities issuing it is uniformly ‘good. MORTGAGE DEBTS. We come now to the Individual mortgage indebtedness of tnese states and here we find a different condition of affairs. As I have shown, forty years ago the country we are considering was an uncultivated wilderness. Then the estimated true v tlon of its property was $4,500,000,000, not 000,000,000, as now. Then its population was a trifle_over 5,000,000, and not over 25,000,000 as now. There have been two distinct classes of settlers engaged in the settlement and development of this country. The first may be described as the patient ploneer plodder: who settled the o'der western states and who after a generation of severe work and hard- ships have either died or retired to the towns and citles. The other class who form the energetic, go-ahead, restless settlers of the newer states of this group, who have accom- plished as much in fifteen years as their predecessors did in twenty-five. Of course the older settlers and those who have fallen heirs to their farms are not burdened with mortgage Indebtedness. And for the very good reason that they borrowed little. They had a hard hand-to-hand battle with nature without the modern appliances of railways, self-binders, adjustable rakes, mowers, steam threshing machines, barb wire and mortgage loan companies. They worked out their own salvation. Physical endurance, strong arms, indomitable courage, good digesticns and hopefulness won the battle. They paid their debt and interest as they went along and be- came independent as the markets for their produce were opened. They literally grew up with the country, or, perhaps, I should say the country grew up with them. Today these early settlers are well-to-do farmers and their farms go larg:ly to swell th> columrs showing that over two-thirds of a.l the owned farms in the United States are free from debt. other words, have paid for themselves. We have thousands of them right here in Ohlo, THE FESTIVE LAND AGENT. The western immigrant, who made his ap- pearance on the scene about the 70s, and who helped to swell the tremendous total increas> of 12,000,000 in population between 1870 and 1890 was althogether another type. He came enthused with the latter-day notion of getting rich in a short time. He brought into play all the modern not'ons. To his mind rallroads should be extended in all direct'ons in search of population, not population grow up to rallroads. Mortgage loan associat'on agents became as numerous as lightning rod men. They watched the local papers for the official declaration of proof of title, and swarmed down upon the honest farmer with the presistency and volubility of life insuran-e agent Then came the boom town with its unscrupulous real estate specu ators, followed by an army of rest'ess adventurers, wha have strewn distrust and misery over entire sec- tions of country and brought odlum upon the characters of hundrels of thousinds of honest, hard-working men. Men who, though victims of the most stupendous robbary of the present century and handicapped in every possible way, are honestly meet'ng thair obligations and releasing their property from .a burden of debt and intere:t, wh ch, when the aggregate was being guessed at by dema- gogues, may well have disturbed those both at home and abroad Interesied in the prog- ress and prosperity of the United State RECKLESS BORROWING. Whatever may be said of the reckle ness of the farmer who borrowed, as a rule the loan assoclation lending the money and as a rule the agent who actually placed the loan were equally reckless, not to say dishonest. Between 1882 and 1890, when this epidemic of borrowing and lending on farm properties swept over the west, all the ordinary safe- guards were disregarded, except by a few con- servative and well managed institutions. As conducted it was a disreputable business, and the only wonder is the loss has been so small. The victims on the one side were the honest, industrious farmer, trying to.pay for his land out of his crops. On the other, the stralghtforward investor, willing to loan money on what he supposed was improved tarming property in the west. Between these two contracting parties was almost every class and grade of trickster. The titled spend- thrift, glad to lend his name as a decoy, the sharp, unprincipled swindler, gambling Wwith other people's money, the reckless agent, pay- ing out money with only the commission in view, and the low grade local swindler, whose itching palm received altke a “bonus™ from the borrower and a “‘commission” from the lender. As a rule the loan and the mort- gage companies that have come to grief started out as monstrous frauds upon the farmers they assumed to help, and if the end has not been as happy as they could bhave wished perLaps the less said about it the better. STUFFED LOANS. Let me briefly explain the operations of some of these associations and thelr delectable agents. To begin with, there are three kinds of loans offered, namely: 1—The “stuffed loan." 2—The “deducted commission loan.” 3—The “first and second mortgage loan.” The “stuffed loan” 1 am informed was pre- ferred and the agents were allowed addi- tional commissions to secure them in this form. They were a work of art in the way of effective usury, As an illustration we will take the case of a farmer who, having lived six months on a quarter section of land (160 was ready o make final proof and to the land. He needs for this honorable and legitimaty purpose say $1,000, An accommodating agend n get the money for him, but must have s&nething for his trouble. ' Then a bargaln is driven as to what the agent's fee or “bonus™ In’| 1l be, and | whether 1t was $50 or §100 depended largely upon the urgency of the loan and the busi- ness shrewdness of the farmer. The note was then mude out on the regular form of the company for $1,200 and the rate of In- terest on the whole anount inserted at 7 per cent per annum payable semi-annually in ad- vance. Here Is the transaction BEAUTIES OF A “STUFFED LOAN." The farmer recely obliged| tor this obligation: Cash trom loan Company i Deduct 80 bonus to agent and half year Interest in advance .. The farmer himself to pay: Frincipal Tnterest In’ ndvance semi-annually for five yeurs ....... Total . .. #1,8%) )| ceren 81,600 Actual cash tved ... PLUCKING THE FARMER. As a rule the agent who figured in this matter had advanced fifty, perhaps one hun- dred dollars for preliminary advertising ex- penses, court fees, ete., for which he charged about 2 or 3 per cent per month, and all of which was deducted with interest when the check was turned over. Of the $800 left $200 went to the government in payment for the land. Thus we find the western farmer beginning life, as it were, with 160 acres of land, $600 in cash and a stuffed mortgage, which with interest meant an ob- ligation of $1,620. The advantage of the “stuff:d mortgage” was it made a ‘‘clean Job” of a somewhat shady transaction and could be =old to innocent parties in the east or Europe for Its full amount, and made, on the fac: at any rate, a most attractive 7 per cent Investment. The ‘deducted com- mission mortgage,” an experienced agent re- cently told me, “was not such a slick ar- ticle,” though much on the same plan. The second mortgage loan was from his point of view a “nuisance.” It was only taken when the farmer was very “fly" and the loan could be made in no other way. In these loans the “bonus’ of one hundred and fifty or two hundred dollars was put into short time notes secured by a second mortgage. Thus, gagged and bound, it were, with mortgages, the tiller of the soll was left to work out ths problem. That he has suc- ceeded speaks well both ror his industry and productiveness of the soil. On the other hand, it is not surprising that these disreputable methods of lending money should discourage some who contracted loans in good faith and encoursge adventurers who took up claims, borrowed to the full extent, divided the money with the dishonest agent and lsft the land to the respectable gentlemen who were themselves dodging the criminal law against usury by the question- able device of ‘“stuffed loans.” Immorality in lending money 18 not conducive to a hign moral standard in the payment of d:bts. The highest commercial integrity is found only in localities where business Is con- ducted fairly and honestly. Business men and bankers who are horrified at the irides- cent financial schemes which emanate from the “wild and woolly west” might possibly find the geneis of these troubles nearer home than they would care to admit. The ‘“stuffed loans” and other usurious devices are not to my mind calculated to inculcate sound views on banking and currency or to elevate the standard of commercial morality. NOT AS BAD AS PAINTED. This is the worst side of the picture. I glve It simply to show that the weste'n farmer s not as bad as he has been painted. While he may have sinned he has been sinned against. The failure in the United Slates of three or four large western mortgage com- panies during the panic of 1893 was attributed by the officers of these companles to the fict that the western farmers were not mecting their obligaticns. A careful examination of the affairs of nearly all thete compan'es would have shown the utter fal:ity of this charge. It Is an unqualified and inexcusable slander upon western farmers to say that these tremendous institutions have falied be- cause they did not pay their interest. If the failure of any of these companies is in any measure attributable to the inability or in- disposition of farmers to meet thelr en. gagements It s because the companies have made such loans as I have de:cribed. The .officers of these companies simply gave out the statement which they thought the public would swallow most readily and which would furnish the best excuse for operations which the managers of an instituticn dealing In reliable securities should have avoided. The eastern newspapers cagerly swallowed these statements and have done their best to convinge the public that they were true. The same erroneous idea is prevalent In Burope. First impres:ions are only too apt to prevail. The.detailed examination of these defunct Institutions shows that western mortgages were the most profitable branch of the business, and that the schemes that brought the officers to grief were enterprises into which they entered in the hope of re- alizing large profits. The funds of their respective companies were used to promote such enterprises and when the Inevitable collapse came they laid the blame upon the brozd shoulders of the man who was tolling night and day to pay them $620 for a loan of $1,000 for five years. ROBERT P. Cleveland, 0., Aug. 30, 1895. B e TRAVELING MEN'S DAY. PORTER. FOR al Arrangements Made at a Large Meeting Yesterday. A meeting of the traveling men was held yesterday noon at the Mercer hotel to com- plete the final arrangements for the proper observance of Traveling Men's day at the state fair. The meeting was marked by much enthusiasm and the plans developed indicate that September 19, the day speclally set apart for the knights of the grip, will be one of the most novel and entertaining features of the fair. The gathering of traveling men during fair week, and especlally on Traveling Men's day, promises to eclipse anything of the kind ever held In Omaha. The wholesale houses of Omaha, and of the state generally, will almost entirely suspend business, thus al lowing the men on the road to participats in Omaha's festivities, where it is expected they will find most of the country merchants doing the like. The impression that has gone out that the day s set apart only for Nebraska men is entirely erroneous, and particular stress was laid on the fact at the meeting yester- day that all traveling men, from whatever locality, are invited to participate in making the day a success. Already many hundreds have promised to ald in doing this by their presence. The hotel cafe was filled by a repressnta- tive body of traveling men by 12 o'clock, when the meeting was opened by the chair- man and reports of the varlous committees entrusted with the preliminaries called for. The matter uniforms to be used during the parade discussed, and after can- vassing the subject a uniform was agreed upon, in accordance with the reports of H. H. Hardy and E. J. Roe. The uniform will be a nobby affair, consisting of a white hel- met, belt, neglige shirt, dark trousers, badge and’ Japanese parasol. It has been arranged 50 that the whole outfit can be obtained by traveling men on the morning of the parade at the headquarters, at the nominal per capita cost of $1.25. KRUG'S HALL HEADQUARTERS. The use of Krug's hall, 1418 Farnam street, has been offered the traveling men and headquarters for the day will be estab- lished there. At 12:30 sharp the parade, to be participated in by all traveling men in the city, will leave Krug's hall and move east to Eleventh streef, thence north on Eleventh to Howard street, thence west on Howard street to Twelfth, north on Twelfth to Douglas street, west on Douglas stroet to Sixteenth, and north on Sixteenth street to the Webster street depot. The course of he parade, though it may sound uninteresting, will nevertheless be marked by numerous acczssories which the committees on arrangements have provided, the production of which on the line of the march will be certain to attract attention. In addition to dapper suits gnd the skillful effects of color carried out In uniform and badge, the musical contingent of the asso- clation has procured a certain weird instru- ment called a “tattoo.”” No details have been given out concerning the affair beyond the statement that it has a prodiglous ca- pacity. for producing nolse. E. Streeter, chalrman of the music cowmittee, was In- structed, in addition, to procure the attend- ance of a band for the parade and during the afternoon at the state fair grounds. A huge parasol, measuring seven feet In diameter, has been procured for the marshal's use during the parade, the balance of the knights of the grip contenting themselves with those more modest In_dimensions but equally gaudy. Chairman W. L. Eastman reported that arrangements had been made for procuring a handzome badge, bearing the colors of the Knights of Ak-Sar-Ben. These and all the requisite paraphernalia for the day can be procured at the headquarters. THEN TO THE FAIR GROUNDS. On reaching the Webster street depot the | traveling men will be provided with a train of ten conches for th rfilll coaches for ths them are expected toshg yready to led the depot promptly at 1 b'efock. The Missourl Paciffc carries the crowd to the fair grounds, where the afternoon wily pe spent In watc- lr"r the races or viewing the sights of the alr. welves and two families. AN of Messrs, Hodgins, Hagiton wera appolnted a committe detalls at the fair gronmds, Secretary Hodgins received during the meeting a number of applications for mem- bership in the Knights of Ak-Sar-Ben. It was determined to get up a list of traveling men who wish to joig_the organization and by a special dispensation get the degress in this ancient order conferred upon the first Monday night of fair week. It was pointed out that at that time mauy traveling men whose business over the stat: has rendered t impossible hitherto to Join the order wili be on hand during fair -week and be able to become knights. A final meeting of the "traveling men wili be held at the Mercer hotel upon Saturday evening, September 14, at 8 o'clock. Before adjournment the convention voted thanks to Dr. Mercer for the use of the hotel rooms and also to The Bee for ex- tending the use of its columns to the travel- ing men. and Kessler to look after 299, PULPIT EDITORIALS ny REV. FRANK CRANE. The Action of the Populist Convention on the A. P. A—The Nebraska convenion of populiss the other day refused to pass a resolutlon denouncing the A. P. A. Where- upon they are being condemned right and left as being under the control of that mys- terious organization. It is worth while to reficet that of all the many conventions which have succeeded in passing such rese- lutions, we rarely hear it charged that any of them are under the control of the Roman Catholics. The fact is, if newspaper reports are any indication of public opinion, it is a fad just now o swear at the A, P. A. with the ‘meanest expletives at onc’s command. Politiclans vie with each other in their ana- themas. The reason they do this, they say, is that they are opposed to religious Intol- erance. But why Is it that they have sud- denly awakened within the last few years to the danger of societies that infuse religious issues into politics? Such societies have ex- isted always. One society especially has been present in the United States since its founda- tion, constantly meddling with politics, steadily appropriating vast wealth to itself, and in many eities securing almost all of the offices. Besides this the proof is over-abund- ant that it has gotten its hand into city treasuries, ~secured the eontrol of public schools and otherwise interferred with Amer- ican finstitutions. How does it happen that now when a new organization called the A. P. A. raises its head among us, every pro- tessional politician must suddenly begin to foam at the mouth and tear his hair and pour out damnation upon it every day in th week, Including nights and Sundays? This is no plea or excuse for the A, P, A.. Per- haps it Is even worse than it is painted But the pulpit believes in fair play. Fair play demands that it the Roman Caholic political organizations are to be Ist alone anti-Roman Catholic political organization ought to receive the same treatment. Fair vlay demands that if an organization, which by not only years, but centuries of history has proved itself to be constantly meddling with politics, s to bs,handled reverntly and lightly, then an organization constructed for the purpose of opposing it is entitled to the same consideration. The pulpit does not believe in religions issues in politics, but the logical conclu- sfon of this belief is that every religio-politi- cal organization should be_frowned on. Why single out one, and that’a poor and smail one, and leave another,:which is rich an powerful, alone? There are serious indict- ments brought against.the A. P. A But ther: is not one which will not;apply with a hun- dred fold more force against the Roman Catholic church, and espécially the Order of Jesus. 1 The A. P. A. is called “oathbound,” but what of the iron-clad obligation of the Jes- uit? The A. P. A. s objurgated because it is a secret soclety, but who shall fathom the plots of that soclety whose perfect in- strument was the Inquisition and whose right hand is the Confessional? The A. P. A. is “bigoted, but when did that church which has endeavored to persecute and sliy every reformer from Giordano Bruno to the old Catholics, win the claim to be called “liberal?” The A. P. A..is sald to be after offices and emoluments, but what of that church which at one time owned a large part of the real estate of Europe and two-thirds of the property in Mexico? The A, P. A is sald to be opposed to liberty and our American institutions. Grant it. But, 11 the name of ordinary intelligence, why not something said about that church which threw all the weight of its Influence against Victor Immanuel and the patriots in Italy, was the main stay of Metternich’s tyranny in Austria, hung like an angry bulldog at the skirts of Bismarck while he fought for German unity, encouraged Napoleon the little and obstructed and harrassel the French re- publicans, placed its overflowing coffers of wealth at the disposal of the European ty- rants who were trying to defeat Juarez in Mexico, and only yesterday raised papal hands to bless the Spanish troops sent to crush the spirit of republicanism In Cuba? Compared with the Roman Catholic church or the Order of Jesus, the A. P. A. is tre- mendously small potatoes. By all means let the political spelibinder lash the A. P . A. Give it to them! But while you are chastising the little boy don’t forget the tough and hardened big boy who Is committing precisely the same offense. That old religious organization with a record of political intermeddling, which none but the timid seek to cover and of which none but {gnoramuses are ignorant, is in America today free to work its will, dowered with countless millions of money and solid pha- lanxes of voters. On the whole, perhaps the esteemed politicians had better not tackle it Go for the A. P. A. A bas les A. P. A! As for the Jesuits—eh?—0 yes—it is a nice day—beautiful weather we're having— crops looking well! Foollng the Old Topers The “Home Salon” of Bishop Fallows, in Chicago, fools a great many old topers. His idea Is to make the place as much like a first class saloon as possible, and to sell in it something as much like beer as science could concoet without its being the real thing. The saloon has a big bar, with a_sub- stantial rail, from which hang half a dozen towels. Back bf the bar is a white-coated bartender, and back of him are big mirrors and rows of shelves, covered with black bottles bearing gaudy labsls. A row or lemons and a bowl of cracked ice help to make up the illusion. Every day some thirsty victim wanders in and orders “beer.” He gets a glass of foaming something that cools, may cheer, but can't inebriate. Th> victim usually guips it down, then opens and shuts his mouth, and tries to recall the taste, while & puzzled looks spreads over his face 0UT OF THE ORDINARY. Atlanta, Ga., is the only city in the United States that has a housd constructed wholly of paper from foundation to chimney. A girl baby born the other day in Kokomo, Ind., Is the fourteenth daughier of a four- teenth daughter of a fourtasuth daugnter, a ecord which Is thouglit 9 be unprezedented. Ore of the hardest things in a young iaw- yer's life in Kentucky is that he has to rake his pay in moonshine Whisiy for defending moonshiners. « The largest mass of pure rock saltsin the world lies under the province of Galicla, Hungary. It is known td be 500 miles long, twenty miles broad and 2§0 feet in thickness. Crime Is more common, in single life than in married. In the former thirty-three in every 100,000 are guilty, while only eleven married men of the same number have gravely broken the laws. The world puts on its victuals each year $3,000,000 worth of black pepper. The bus- iness of supplying it lsn't an industry to be sneezed at. A mateh cutting machine is quite an au- tomatic curlosity. It cuts 10,000,000 sticks a day, and then arranges them over a vat, where the heads are put on at a surprising rate of speed. John McKellar of Omard, Mich., a 9-year- old boy, weighs 117 pounds. His chest meas- urement |s thiry-eight inches. He refuses dainties, living chlefly on bread, meat and potatoes. He attends school nearly a mile from his home, and enjoys himself as all children of his age are wont to do. His father, Dougall McKellar, is a medium sized man of Scotch descents 2. 1895, SAVED BY CEREAL CROPS Business Revival Based on a Yoar of Agri oultural Prosperity. RESTORATION OF CONFIDENCE COMPLETE Con dent Esxtablished by pn of the Promise of the MHarvest and Ontlook Correspondingly onrnging. NEW YORK, Sept. 1.—Henry Clews, head of the banking house of Henry Clews & Co., writes of the situation in Wall strect: Gradually, during the latter half of the month, the position and the spirit of aftairs in Wall street have been undergoing a change for the better. The resuit of the harvest may now be regarded as having reached an asusred position. Taking the varlous cereal crops—which combined view I8 the true method of estimate—we may r gard this crop year as affording a full av age output. The yield of cotton may be expected to fall considerably short of our largest récent years; but for the growers that can hardly be regarded as a misfor- tuné, for, with the inevitable higher price; the net return to the planters will be mue better than that of the larger crops whic sold so low that virtually no profit was made on them. This promise of a prosperous agricultural year means a great deal for the comme: clal and financial situation. [t is the reali ation of the one condition for which consery- ative men have been walting as the condi- tlon precedent to a_more complete restora- tion of confidence. It not only confirms the Improyement in affairs up to the present time, but also justifies the hope of its unin- terrupted contihuance until the next harvest at least; the prospect to business men s consequently most encouraging. The rail- roads are already beginning to show a very general return to the old scale of earnings; and, with the larger trade to result from a ool h , It Is safe to expect yet larger in s of both freight and passenger traffic from this time forward. It goes without the saying that thes wholesale developments of business —are destined to still further enhance the value of securities, especlally those which are de- pendent upon the movements of commerce, which means especially railroad and-sound industrial stock HELPS THE TREASURER Of course, the uncertaintles attending the disorganized state of the treasury finances #till remain uneettied, and it must be con- ceded that there can be no absolute restora- tion of confidence until that source of dis trust is removed. It is manifest, however, that a return to sound and prosperous cen- ditions in our industrial and trading inter- ects must indirectly, If not directly, con- tribute toward strengthening the gold re- sources of the government. So far as a re vival of business may increase our imports it will be a tangible and welcome evidence to foreigners of our recovery to prosperity and to that extent it will strengthen confl dence In our Investments and bring out ropean orders for our securities. So fa prosperity may Increase our surplus of portable products, it will help to create o tavorable condition of the foreign exchanges. In this way prosperity at home Is calcu- lated to bring back o much of our normal stock of gold as has drifted to Europe under late adverse conditions and Is now resting idle at nominal interest and awalting ar opportunity for Inves Alone of them seives these tendencies could not, under existing conditions, affect the freasur otherwise than by lessening its Dabil be drawn upon ld for export; could put no gold its vaults, for it has no longer any rece in the form of gold But, with gold coming in and securitic coliig out, the attitude of the banks toward the treatury would be very favorably changed, Th-'r stock of gold would be m terlally increased, and, with the restoration of a normal condition of the exchanges and a healthy condition of internal affairs, their corfidence would be fully restored. Tt ‘would seem to be a reasonable assumption that under such a concurrence of favorable cir cumstances, the banks would be foun: favorable to a resumption of their old rela tions with the treasury, including the dis bursement of gold for customs duties a the providing of specie for export, the gov- ernment on its part making its settlements at the clearing house in gold or gold cer tificates, as in the ante-panic times. Current symptome indicate that the present exports of specle may soon cease, and it is greatly to be hoped that this concesston and the growing hopeful feeling may be turned tc early account by negotiations between thc treasury and the clearing house looking to the resumption of gold payments betwee them, and thereby putting an end to this embarrassing treasury question. nt. LONDON STOCK MARKET REVIEW Chenpness of Money Continues to Re n Striking Featare of Trade. LONDON, Sept. 1—The general condi tions in the stock market are unchanged The cheapness of money s still forcing up prices of all good Investment securities clgners are rather negiected, but i other markets are experiencing the bene- fit of better feeling and increased activity. The speculators of the w world _are being attracted by the Afric om. Parl is a heavy buyer, while many and Aus tria_are “also buying ‘I Chartere South Africans have touched 5. Ar tines are strong. The market for guns an: ammunition companies Is firm on Japanesc orders for war materlal. The welcome Erlc scheme of reorgantzation given a re newed spurt to Amer all around. The new prior lien Eries are being dealt in at 97, the general llen at T4 and the Eric first preferred at 4114, The advances for the week are as follows Erle seconds, § per cent; Chicago, Milwau- kee & St. Paul, Reading firsts and Wabash 68, 4 per cent; Denver preferred and Wa bash, 3 per cent; Atchizon and Illinois Cen- tral, 2% per cent; New York Central and Union Pacific, 2 per cent. Canadians arc encral Market. LOUR—Lower; paten 2.90G3.00; fancy, $2.65 pressure to sell a rally oceur closed below yesterday; No. September, 6214@62%¢; Dec 68%e. CORN—Advanced somewhat on demand caused by the expectation of frost, but declined later and closed lower than yesterdiy: No. 2 mixed, cash 34%e; September, Hie asked; December, 20%c} U@ 2slic. OATS—Futures dull and easler; steady; 18%c; September, 18%c; May, 31%c. Lower, 3. CORN MEAL—$1.79G1.50. BRAN—Offered, east track, at e, and f6e bid for spot. FLAX SEED-Stea TIMOTHY SEE! HAY—Fairl ed, red, cash ber, 63%c; No. to arrive, $3.75674.03. . steady to firm; timothy, 50G9.00. er for Tlgin at 24@20; mery, 16@17c. i cy separat G GS—Hig) SLTER—Dull, $4.07%, PROVISIONS—Fork, & £9.50. higher: prime et i , boxed shoulders, ; shorts, §1. Flour, 20) bbls.; wheat, 67,000 bu.; ; oats, 85,000 bu Flour, 5000 bhls. ; 3 corn, 6,000 bu.; oits, 14,000 bu. Sugar Mark YORK, Aug. 31.—SUGAR—Raw, dull Ha centrifu aull; No. 6, 3% No. 8, 3%@3 131 3%c; No. 10, 31@3 11-16e: No, No. 12, 3%@3 9-16c; cut 1o 413:06@5e; powdered, 4 4 3-16@4%c; cubes, 4 T-16@4 LONDON, Aug. 81— R prices fully maintained; centrifu fuscovado, fair refining, 98 6 buyers at quotations; Aug 98 6d. Jobbing, $5.75; " choice. 5. Tonis, $6.50; ribs. $6.6 wheat, 34,000 NEW falic refining 34e; refine 311°164 3 3 71664 1-16¢ crushed, granulated, 1, Can al ) quiet va, 115 94 beet sugar t, 9 6; Septem! Peorin Markets. Market slow, steady; No. OATS—Market slow, 20 3 white, 19144 ket dull, n K Y—Market fir basis of $1.22 for high wines. RECEIPTS—~Wheat, 1,890 bu.; corn, 32,700 bu. y and barley, none. NTH—Wheat, 2,400 bu.: corn, 5,800 bu rye, 1,20 bu.; barley, none. No. 2 white, 20%@ shed goods on the Kansas City Markets, WHEAT—Lower; N @6sc; rejected, 43G00c; . 69%e; No. 2 red, 2 kpring, 85GIskc, CORN—Slow; No. 2 white and mixed, $1%@ No. No. Slow; 2162116 RECEIPTS-Wheat, 34,000 bu.; corn, 16,000 bu. oats, 17,000 bu SHIPMENTS—Wheat, 23,000 oats, non 2 mixed, 18@18%0; bu.; corn, none; Weekly Bank State. WALL STREET, Aug. 31.—The wee ment of the changes decrease, $2.12 $1,683.620: loans ase, $341,90); le tenders, increase, §2, deposils, ' Increase. $1,396,400; circulation, increase, $15,80. The banks now hold 38,149,925 in s Of the requirements of the 2 per cent rule Cotton Market, ST. LOUIS, Aug. 3L—COTTON—Steady; no sales; middling, Thc; receipts, 4 bale; shipments, 504 bale K, 1,671 bales. NEW 'YORK, 'Aug, dL—COTTON-Futwes barely stea whruary S X Spot ' o 3.18c: midanng, NEW ORLEA midaling, 7 9-1% ardin exports, 406 b stock, 1 FRlem. 188500 1) §0 Manch. 7,0 1.3 bale a5 npinne CHICAGO GIAIN MATUKET the Trading and Closing Fleew on Snturday. CHICAGO, Aug. §1-Wheat was weak during all but about twenty minutes of to- day's short session. 1t was from %ec to %¢ lcwer at the close than it wus at the end of Friduy's session, The lack of luquiry for round lots of cash wheat for shipment either here or at the scaboard was (ke most influential feature in today's decline. Corn and oats improved in tone ou account of frosts last night and predicted again for tonight, but not mue improvemer in pricos ‘was established in the end. The changing ov mber deals In pro- visions went a *shorts to & moder- ate extent. Wheat, while selling at one time a shade above the close last night, soon turned weak and swveraged fully bje lower. “The conditions were generally regarded as rathor bearish, cables came lower, (rade WAS excees Iy duil here und narrow, and the Indications arc an increase In the visible MIF[vly Monda of about 260,000 bu. The local receipts were neurly fifty cars in excess of the estmate And there was free liquidation by discouraged longs and Benerous e of December by some of the big elevators. Under these conditions the market ruled weak and lower, The ro- ceipts in the northwest still keep about 100 cars below the delivery at this time last vear, but advices from there altributed thia to the bad condition of the roads there, 1 to recent heavy rains. The Argentine shipments for the weck were repor atl 64,000 bu,, or just half of what they were the week before. New York advices uiso sald that forelgners wero good buyers of wheat at the scaboard, but mostly for De- cember and May delivery. But none of the favorable news was sufficiont to overcome the bearish inclination of the market and weakness the rule. December opened at 63%c to sold to 63%c, then broke to 62%c to 624 closing at 2igc. Septomber sold from 611 {0, 60ge, closing at G0%e. The corn traders were agitated over the frost of last night and the additional freez ing weuther predicted for tonight. The May shorts were the most alarmed. September went up in sympathy for a while, but in the end it settled back to the previous day's closing value, May opened at 31%c, sold at dlc, from that up to 3% and back again to 1o 813c at the close. Gats had & slight touch of the frost scare but=it had about all thawed out by the time the session had ended: May, which closed rday at 2Uc, left off ‘at 22 sellers Fentur, toda Provisions improved on account greater demand from shorts than from the longs in the September delivery, Ar- mour & Co. and the Chicago Packing Co. vere reported as g been free buyers mber ribs. The close of Septemb s at a reduction of fe, and of Janu- September lard is ‘about 7%c and January 2lc higher. Ribs had a more substantial gain, September closing 20c and January from Gc to 7% higher. Estimates for Monday: Wheat, gorn, 330 cars; oats, 206 cars; hogs, head. The leading futures ranged as follow “Articles, |_Open. | High | Low of the 5 cars; 20,000 |_Closs. 61 613% 0134034 61ig 038 2614 B3 B304 808 818 1874 18 2234 Q0% 80ty 623G 361 36 30%@l 405 814 185X 3 PELEN MOV 20362 Pork.per bbi sept.. Oct. R Lard 100 158, 9 00 0 10 0 87k 0 9 10 6 00 6 0214 600 | 5 80 5 60 5 17% 05 174 00 patents, spring WHEAT- Spring, $RCWNC; §9G6IGe; N d, 601§ 60%c. CORN-No. 2, 36%c; No, 3 yellow, 36%c. No. 2 whi No. 3, 37c; No. 4, 33@36c. 10115, Prime, $4.00, pork. per bbl., $9.00! 5. Snort es (1 FLAX SBE TIMOTHY PROVISIO! per 100 1bs., 3. 3@5.80. Dry salted should 1. Ehort clear sides (hoxed), $6.2510.50. HISKY—Distillers' finished goods, per gal., $1.22 The fellowing were the receipts and shipments today: Artic Receipta.|Shipments 7.000 55,000/ 181,000 309,000 1000 46.000 41,000 212000 01000 4,000 150001 10,000 01av the butter mar- creamery, 9@20c: dairy, 0iag \dy; 186 Cliceso. GHETHC. OMAHA GENERAL MARKET. Condition of Trade and Quotntions on Staple and Fancy Produce. The egg market continues very firm with stocks light. Quotations: EGGS—Fresh stock, per doz., 1lc. BUTTER—Packing stock, 8@8% fancy, 1@l6c; gathered creamery, rator creamery, 18G19c. VEAL~Choice fat, 70 to 100 1b Flour, bbls.. Wheat bu. Corn, bu. Gate, bu, kel was & i7c. Eggs, st cholce 1o 17@18¢; sepa- are quoted at 5 ng 2 f Nebragka and Towa, full’ cream,10@1ic; Limburger, No. 1, 12¢; brick, No. 1, 12) s, No. 1, 13@ e, LIVE TRY~Hens, 6c; ~ roosters, 3 spring per b, 8@81c; ducks, be; Spring ducks, S@ic; PIGEONS—Per (oz., $1. HAY-Upland hay, '$6.50; midland. $6.60; low- land, ¥6; rye straw, $5; color makes the price on bay: light bales seil the best. Only top grades bring top prices. VEGETABLES. POTATOES—New pof choice stock, 30c. SWEBET POTATOES $3.00G3.50 , 12) 1" per bl ONIONS-—Home grown, 40@5ic. CADBAGE—On orders, sacked, per Ib., Ilc. ck, per % bu. b WATERMELONS—Per doz., crated, $2.00: CELERY—Cholce stock, per doz., 857idoc. CANTALOUPES—Cholce stock, crated for ship- ment, per doz., $1. FRUITS. PEARS—Cholce California other varletics, $2. RED RASPEBERRIES—No shipping stock. PLUMS—California, per box, choice stock, $1.00 fancy varletics, $1.16@1'2, APRICOTS—No shipping stuck. SOUTHERN PEACHES—None. APPLES—Cholce shipping stock, bbls., $2.000 2.25; cooking apples, $1.75G2.00. —Crawfords, per box, Bartletts, $2.50; CALIFORNIA PEACHIE $1.00; ‘clings. o STRAWBERRIES-Cholce shipping stock, none. No Shinping stock. No shipping stock: roun slock. per i lots, BG2R0; Ives, 22 bl varieties, $1.00; Muscats, Vi, $150G1.T6 NECTARINES-—California, per case, $1.25, TROPICAL FRUITS. hotce seedlings, per_box, an sweets, none; fancy St. Californ} ORANGE $2.76; Mediterran Michaels Extra_fancy lemons, 360 size, $1.25@ 00 size, §1.5008.00 ANANAS—Choice large stock, per bunch, §2.2 @250; medium size bunches, §2.0062.%. PINEAPPLES—None. MISCELLANEOUS. —Extra selects, 3ic per can; compan; W York counts, 45, i 1ic; cholce, 12G13e, Y—Calltornfa, 1@1Ze, MAPLE SYRUP—Gallon jugs, per doz, Bixby, G-gal. cani NUT 02 nglish walnuts, sofi- i4c; fiberts, ) peanuts, raw, 6c e, DATES—In 60 to 70-Ib. boxes, 6¢ per Ib.; fard all hoxes, 10 per b R—Puie juice. per bbl, $5; half bbl., 33 POPCORN~—In the ear, on orders,” per HIDES AND TALLOW. 0. 1 green hides, 8c; No, 2 gree Tihc; No. 1 gieen salted hides, 9o; No. green salted hidcs, $%c; No. 1 veal calf, 8 to 15 Ibs., 12c; No. veal calf, 8 (0 16 Ibs. 10c; No. 1 dry fiint hides, 14G15¢; No. 2 dry fint hides, 12c; No. 1 dry salted hides, 130; partly cured hides, 1o per 1b. less thun fully cured. SHEEDP PELTS-Green salted. each 25@60c; Ited shearlings (short wooled early sking each, S@léc; dry shearlings (short wooled early sking), No. 1, each, bploc; dry shearlings (short wooled ‘early’ skins), No. 2. each, be; dry flint Kansas and Nebraska butcher wool pe welght, 4@6c; dry filut Colorado by pelis, per b, actual weight, 4Got Colorado mufrain wool pelts, per welght, 4G6c. Have feet cut off, ws It is uselos to_pay freight on them. TALLOW AND GREASE—No. 1 tallow, 4%c; 2 tallow, 34@i3lc; grease, white A, 4G krease, white B, ige; Vellow, 24 arease, ‘urk, 2sc; ofd butter, 2G2ie; bees Wix, prime. 11G%c; rough tallow, 2 WOOL UNWASHED—Fine h Sgrc; fine light, 8@%c; quarter-blood, 10gl%c: seedy, ‘burs and chaffy, 849¢; cotted and Droken, coarse, T $c; cotted and broken, fine, 6G8c WOOL WASHED-Mediim, 16618 fine, 4@ 16e; tub washed, 10G1c; bikck. 80 bucki, Ge; tag locks, 3g3c; dead pulled, b@ta ONAWA' LIVE, STOCK MARKET Trade in Fat Oattle Opened Very Slow Yestorday, BUYERS DID NOT APPEAR ANXIOUS Stockers and Sapply, in Areivals M Left Over, Feeders Were In Larger Fresh ® Been Recelpts for the past tw as compared with are as follows: Cattle. 274 nty-four he the previous four days, Hog 1,54 1170 1.202 1061 3,043 show Sheep. Horses, August August a1 0. A t B August 280 0 August 27, 'he follow kst n 32 the receipts by ug wiil w Hogs. Sheep, 8415 611 2,061 2,130 3 150 Recelpts this week.. Heceible last week.... Same wook In 189400 Same week {n 158 3546 Same weck in 18020 28 1005 8160 The reccipts of cattle have been very large during the past month, in fact the Jargest for the month of August since the opening of the yards. The receipts were large during August of last vear, but the past nionth shows a gain of over 22,000 head. The Increase has been mostly in fecding cattle, which have been taken back into the country and placed on feed. The following will show the recelpts by months for the year up to date, as compared with the corresponding months of 1894: Months, 1835, January ... Februa 20,101 20417 Total eight months.3 768,827 64,608 114,280 Total elght months. 185,03 It will be noted that for the eight months there 18 a decroase In the receipts of cattle amounting to 1 head, owlng to light runs dubing the ‘first six months of the present vear. This discrepancy Is being re- duced rapidly each week, wWith the prospect that It will be all wiped out before the end of the year. In the recelpts of hogs there has been a decrease amounting to 513,000 head for the eight months. It has been pointed out before thig that comparisons with last year are hardly fair, as receipts were phenomenally large in 1804 If we make comparisons ‘with 1803 it will be found that the de: e is only 179,138, CATTLE-The week closed with ninety- seven fresh loads of cattle in the yard: against 104 cars received vesterday. Out of the number received there were sixteen loads of Texas cattle, or 467 head, consigned direct to a_packer, ieaving only’ 2,237 head on sale. The catile offercd were mostly westerns, and a large proportion of them 500d enough for feeders only. The market on fat cattle opened very slow. The buyers did not gppear at all anxious to do business, and the trade was a drag all the morning, with few cattle changing hands, Later in the day a good share of the caitle were sold, but at lower prices There were about twenty-five loads of cows on sale. The market opened steady on that kind of cattle, and the early sales showed little change from yesterday. Later the trade was slow and the market eased oft toward the close. Stockers and feeders were in large supply, there being, in addition to the fresh re . quité a good many cattle held over vesterday In the hands of speculators. 1 on a Baturday the demand was icre were few buyers in from the v, and speculators did not seem in- clined to buy very frecly with the prospect that the cattle would have to be carried over until next week. = As a result, the mar- ket was weak to 10c lower. It was, how ever, only the usual Baturday’s weakness. HOGS—The week closed with a run of twenty loads of hogs, It belng the laigest ron wince Thursday. Tie market was not very actit but the hogs were all old reasonably early, T 10 were steady o a shade lower than “There were no sheep here to make STOCIK, ling Back wer Prices Monday CHICAGO, Aug, 81.—Less than 500 cattle were recelved today, but the supply was much larger than that, as & good many heavy steers and butchers' cattle were left over from yesterda Buyers were agaln holding back, as big receipts lower prices are expected next Monday, and trade was ext y dull at iower prices than were pald yesterday. Steers sold at $3.50G5. gcows and bulls, $1.2303 and Texans, $.90@ Less than 9.000 fresh and st today and Toc for e hoks wi packers and_shippers most of the of s around Friduy's closing prices. Light hogs sold (he best, common to chofce ansorted light going for $4.0064.50. Mixed Toty sold at $4.0004.40 and heavy lots wold at $3.85 . extremely heavy Logs selling below desirs medium welghts, Siles were largely at . 25614.40. The 1,600 head of she mostly sold_early were quotable few nigh as §3 at g2 and lambs at expected up to November. Teceipts: Cattle, 400 hogs, 7,000 head; slieep, © offered bsorbed p that arrived here were nehanged prices. Natives t $1.2093.75_for inferior to extra, 00G5.00. Sheep a head; calves, 50 heads 1,600 head, There's nothing that will add 80 much to the beauty of your home as a Kimball, the sweetest toned piano on earth. 1ts hand- somely finished and low priced. You can rent one—and have it in time for fair weck visitors. We'll take it back or we'll apply the rent on purchase price if you should buy it. A. HOSPE, Jr., Music and Art, fii 1513 Douglas, &;M*W\' RIS | == JAMES E. BOYD & CO Telephone 1039, OMAHA, NEB, COMMISSION Grain, Provisions & Stocks, Room 111% Board of Trade, Direct wires to Chicago and New York, Correspondents: John A. Warren & Cos ¥. P. SMITH (Tel 105 8. M. STANFORM F. P. SMITH & CO. GRAIN and PROVISIONS® Room 4. N. Y. Life Bidg., Omala, ranch offices &t Fremont and Columbug. Al ders placed on the Chicags. Board u“?:% rrespindentai” Wchwarte, “Dupes & Co. G engo; Bchreins Flack & Co., St Louls. Refes o Flrat National Bank, Omibas MARGIN ) L Al T EXe EXPLAINED | RESSIONS. Alko our dully mare el letter suggesting when and In what to trades Heth free. Bank rteferences furnished. AR1Os GAST & CO.. M ERS CHICAGO OPEN BOARD OF TRADE, 222 Trades Bullding, Cul cago. Bend for our complete book exs