The San Francisco Call. Newspaper, December 11, 1905, Page 8

THE SAN FRANCISCO CALL JOHN D. SPRECKELS......c000.. cctesssssesssseses . . Proprietor ADDRESS ALL COMMUNICATIONS TO JOHAN McNAUGHT BLICATION OFFICE.. MONDAY..... CONDITIONS IN WALL STREET. T is now almost the middle of December and the winter lull in trade which usually appears about the last of November has appeared, except here and there. On the contrary, the » the different commercial agencies speak of a continually 1g volume of domestic commerce, with a holiday trade which r to exceed all previous records. The bank clearings testify the total in November being the largest ever recorded for t month. The i [ nediate result of this brilliant exhibit has been to lead 11 sorts of ‘speculations, based upon a widespread hich no admonitions appear to shake. This is seen in . ent in Wall street, where the daily sales have run 1,500,000 shares per day, with prices rising some stocks advancing by leaps and bounds, in $3 to $10 per share a day. ; tion in this great mart has become very peculiar. Gen- nce in the interest rates for call loans has been undue speculation, but the rule is no longer work- a deranged clock, it has stopped. With a rom 10 per cent in the morning to 27 per f closing at 4 and 5 per cent, and the same ation repeated on the very next day, speculation in rail- and industrial shares has gone on with an expansion which savors of recklessness. In fact, the violent advances in the interest rates have been received by the street with defiance and incredulity, and doubts of their genuineness have been expressed. lent a check ing at present ent to uct way minent and posted operators have loudly proclaimed that there is no reason for any such rise in rates, and that they are merely the manipulation of the money market by financiers who want to discourage speculation at present. This is as loudly denied by opposing interests, who assert that the advances are genuine and ed by an act scargity of funds, which are being used to move the crops, and by the refusal of Secretary Shaw to come to the re- lief of the market with some $25,000,000 or $30,000,000, as he,was expected to do several weeks ago. The Secretary in his turn says that he is willing ready to relieve the market whenever he finds | necessary, but that thus far he does not see that the market ac- 12lly needs his assis The situation se be that large financial interests are ar- | ificially advancing the interest rates-to restrain the present feverish tion, but that they are not succeeding. The cry of continued prosperity and more to come, with a persistent expansion of trade | ased on large crops and a brilliant statistical situation, is the re- | sponse of the speculating public to the warnings of the banks and rs, and the long interests have fhe whip in their hands and ing the horse into a gallop. It is remarked in this connec- interests who are warning the public not to get | are quietly unloading their large hold- ngs of securities on every advance, and thus making hay while the 1 resent pace the public will soon have all the | the experience, and the great bankers and | stocks, having got rid of them at boom | k in their office chairs and with a broad smile what the market will do next. It is not | 1anc xcessive buying and incidenta to see s the 1 < this wave of speculation in Wall street conditions 1ut the country continue encouraging. The bank clearings an rease over corresponding periods last year, and | v gains of late have been smaller, the volume of ‘the | 1as run high, generally over $3,000,000,000 per week. | last week were $3,436,575,000, and the net gain in the coun- , most of the important cities and towns showing The money in circulation is reported at $88,000,000 at this time last year. While funds are expected to rule | the rest of the year, there is a general agreement among posted that relief is in sight: that while speculation has defied | luring this remarkable year the bankers say one prccedent‘ I holds good, and that is the January return of currency from the | le the wee 1.6 per ¢ ers nterior to New York. But this may be offset by the large demands n the market then for the usual January interest and dividend | sements. T'he staples have been rather more interesting during the week. | Continued estimates by the Government and Southern associations | the volume of the cotton crop have kept the cotton market excited and fluctuating with the general tendency toward advancing Hides are quieter, as the leading tanners have supplied thei needs for the time being. Wool is also quiet, the high prices check- ng the demand for the raw material. Provisions show no features | hy of remark. Trading in grain at Chicago has developed no | ing features beyond an immense demand for oats and a gond: export movement in corn. Dun’s reports an advance in its index | number for commodity prices to $105,312 on December 1, agaiusl‘ $103,85R8 the preceding month, and the past week has brought still another advance. Conditions on this coast at the moment are largely hinging on the weather. While the recent rains have enabled the plows to start in many localities the current cold nights and frosty mornings have kept green feed and other vegetation back, and the general desire now is for more rains and softer weather. Otherwise condi- tions are fully as promising as at any time during the past six or eight years. R among the delegates who went to Chicago to attend the as- sembly called by President Bacon, with an intent to impress upon Congress the demand of the people of all parts of the country for legislation outlined in the President’s last annual message. So explicitly did the call make plain that the meeting was to be an indorsement convention of the President’s rate-making policy that the break away of a minority of the delegates to form a non-indors- ing and adverse convention was manifestly absurd. To make this plain it is necessary only to quote some words, from the speech of the leader of the dissenters, D. M. Parry, presi- dent of the National Association of Manufacturers, who said: “Rather do I prefer to believe that this crusade to endow a political commission with a socialistic and czar-like power to fix transporta- tion prices is what is popularly and very aptly termed a hot-air movement.” “I am more inclined to take the view that Government rate-making is an impracticable and dangerous scheme.” “A propo- sition that is not a whit better than Government ownership.” “It is from the populace and demagogues that we have come to expect propositions that the Government shall interfere with the rights of property.” g For a reply to Parry, we get it briefest and best from Governor Van Sant of Minnesota, who said: “The President is right. The people will not submit to the misuse of the vast powers of corporate wealth ; it will not long submit to the dictation of its creatures. The great trust corporations exist, in fact their life depends, upon special privileges granted them in the .various State: He quotes with approval this: “You cannot disguise the fact that it is to be either Government ownership or Government control.” as to prices wort ctri THE CHICAGO RATE CONVENTIONS. ATE-MAKING is the one clear cut issue which caused a split Among the Republican statesmen who are not in favor of a third term for President Roosevelt doubtless may be counted Senator Foraker of Ohio.—Philadelphia Record. 2 il e Tammany is a pretty bad proposition, but nobody has ever claimed g g Y o SH COPYRIGHT, 1906, BY THE NEW YORK.EVENING TELEGRAM (NEW YORK HERALD INES OF n o SIR MOREL MACKENZIE AND THE SHREWD BELGIANS. Sir Morel Mackenzie once received a wire from Antwerp asking. him his charges for a certain operation. He replied £500, and was told to come at once. When he stepped upon the dock he was met by three men in mourning, who informed him sadly that he had come too late; the patient had died that morn- “But,"” said the spokesman of the party, 'we know that vou did what you could, and we do not intend that you shall be out of pocket a shilling.“We shall pay you your full fee.” And they did. “And now,” sald the ma ince you are here, what | do you say to visiting the City Hospital and giving a c.inic for the benefit of our local gurgeons? It is not often they have an opportunity of benefiting by such science as yours.” Sir Morel saild he would gladly comply. He went to the hospital and performed many operations, among which were two of a similar nature to that for which he had been called over. When he finished all thanked him profusely. On the steam- er going home he met a friend who had a business house in Antwerp. “Pretty scurvy trick tley played om you, Sir Morel.” “What 8o you mean?’ asked the sur- geon. You operated on him and a friend with the same trouble at the clinic. Got two operations for one price!”—The Reader, —_— LOAN OF A SON. The momnotonous diction of birth no- tices, says the London Express, was vesterday varied by the following: “JONES—On the 2d inst., at Cae- Clawdd, Sanderstead, Surrey, to Mr. and Mrs. William Roger Jones, the loan of a son (Victor Rowlatt).” The proud father explains that he and his wife regard their children as being lent to them by God to be educated for his service as medical missionaries or in other similar capacities. ' MIRROR OF DAME FASHION_~P THE PRINCESS SKIRT AND THE BOLERO JACKET. ENRIETTA in a deep dahlia red is the material used in this charming gown, the skirt of which is cut en princess, the circular sides being at- thched to the yoke, which is pointed at the sides and back and continues down the front in panel effect. This skirt also displays one of the latest trim- ming schemes, a band of velvet or satin, in this case velvet, about 9 inches in ‘width, both edges finished with a Richelieu pleating in the same shade as the band. Over a sheer lingerie waist is Worn the little bolero jacket cut to a point n front and fastened with two large silver and coral buttons. The deep, cape- like collar is of the velvet embroidered in silver, the edge scalloped all around, and a second collar of mink completes the neck finish. The sleeve is a full puff to the elbow, the upward pointed bands heid to the sleeves with the silver but- tons, and the cuff a band of the mink. The hat is of soft French felt, in one that it was as bad as the Philadelphia “gang.”—Chattanooga Times. |, —— e Senator Platt is a horrible example of the man who refuses to let go until he has to—Chicago News. _of the lighter dahlia shades, the crown encircled with a ruche of maline of the same shade, a bow of black velvet ribbon apparently tying it in front and a bunch of flufty ti white ostrich feathers trims the back bandeau and curls around on the right side of the coiffure. 0ld you the patient died before vou | : POWER KNOWLEDGE REALLY IS. “As the fellow said, knowledge power,” 1 ventured to remark. “Wind-power,” said the old man, kind of sad. “‘That's one of the things I found out while I was acquirin’ it. Look at me—me who has studied all my life and learned most everything, gettin’ old and i likely to dle most any time, and all I'll leave behind is my wife, a clearin’ and grandpa's rifle. The facts I've got to- gether won't be of any use to my widder. Why, if I started to give ’em to her she just wouldn't listen.” “You mowt write I says. At that old Pottipher laughed like Te would die. “Write ‘'em down—the idee!” says he when he could speak audible. “Don’'t you understand that if I tried to write down all I know'd I'd have to live over a hundred year to finish up?” “Well, since it won't do you any good,” I asks, “why are vou botherin’ about how fur you are from that cloud?” Peter, he smoked quiet like and studied. Then after a bit, he says, says he: “Knowin’ is a habit. If a man has brains, the more he puts in 'em the more is ’em down, Peter," they demands. The other day I seen in the county paper the figgers tellin’ how fur we are from the sun. It didn't say how it was found out, but I judge it took a heap of studyin’ and squintin® and sightin’ and calculatin’. What good does it do us to know how many miles is it to the sun if we ain't intendin’ to ? Not a bit; yet it's a nice thing “Which goes to prove,” says I, “that knowledge is a luxury, not & ne-cessity.” “Exact,” says Peter. “So the most ignorantest man can get rich in dollars while the most smartest s gatherin’ only interestin’ fac says L ‘Pre-clse,” says Peter; “‘you’ studied some yourself. “Some,” I answers, “but not too much, as I prefer the happy mejum. When I see you figgerin’ over clouds I am more concided than ever that ignorance is bliss, as the fellow says.”—From “The Man Who Studied Cont'nual,”” by Nelson Lioyd, in the December Scribner’s. ————————— ANSWERS T0 QUERIES. City. On November 1 of 1904 the out- standing principal of the public debt of the United States was $2,304,697,- 418 64. CERTIFICATES—C. H. S, City. The word “silver” on a United States bill indicates that the bill is redeemable in silver coin only; the word “gold” on a certificate indicates that it is payable in gold only. San Jose, MUGWUMP—F. B, Cal. “Mugwump” s from the Algonquin In- dian tongue. Originally it signified a head chief or a person of importance in a tribe. The “palefaces” applied the word as a term of derision to a per- son regarding himself as an embodi- ment of wisdom and Iimportance, or who, as modern slang has it, “has the big head.” It was in this sense that the word was used in politics. DISTRICT, COURTS—A Subseriber, City. In the State of California thers are two United States District courts, one located in San Francisco for the northern district and the other in Los Angeles for the southern district. These courts have jurisdiction within their territorfal limits of such crimes, not capital, as the United States can take cognizance of, and they are also the admiralty and bankruptcy courts. They have also jurisdiction of certain cases of torts, where an alien sues, and where the United States or an officer or a forelgn Consul is a party. HU! AND WIFE—Inquiry, City. The Civil Code of California says: Upon the death of the husband half of the community property goes to the surviving wife and the other half is subject to the testamentary dis- position of the husband, and in the ab- sence of such disposition to his de- scendants equally if such descendants are of the same degree of kindred to the decedent, otherwise according to the right of representation. If the husband dies without making a will and leaves a wife and only one child his entire estate is divided equally to the surviving wife and child. If he leaves more than one child only a third of his estate goes to the surviv- ing wife. | e THE PUBLIC DEBT — Subscriber, OCCIDENTAL AQEFIDENTA'LS By A. J. Waterhouse. 5 bl & THE SAME OLD THING. HE same old thing! Though they are hard to bear, You can’t escape the binding of the chains you have to wear, The fetters nature forges for the body and the soul, To keep us on her highway and make us pay the toll. The same old thing at evening! The same old thing at morn! The same old thing when dying. and the same old thing when born! And e’en the joys that please us and the cares that leave their sting Are but the variation of the same Get out of bed when morning comes and hustle on your clothes, Then eat the same old breakfast, though the land o' goodness knows You'd ltke a change; then hurry off and to your labor trot, Though oft you think that you'd prefer to quietly be shot. The same old lunch at noontime, and the same old meal at night! And the same old indigestion, ‘the same old dreams to blight! And then unto the same old bed, to end the dally ring, And put the same old finish on the same old thing! The same old actors on the stage! The same old actors off! The same old oold that brings each fall the same old tireless cough! The same worn-out sensations that we used to think were new! The same old pulpit sermons for the dreamers in the pew! Sweet Mary and gay Johnnie think their love is quite unique, And that you'd vainly wander, for the like of it to seek, And yet their doting parents, if the truth they cared to sing, Could tell them that their callow love's the old thing! The same old trousers for the man! For woman, petticoats! The same pretense that we are sheep, whén really we are goats! The same rank affectation of the thing that we are not! The same blank horror of the gulf that ends our earthly lot! The same old mumm'ry of the show!—Ah, it were passing strange If we did not, by nature bound, grow restless for a change: For once I heard a man—the wretch!—at wifle take a fling, By saying that her kisses were the same old thing! “Whose funeral processton is that pass- ing down the street?” “I do not remember the party’s name, but he is another of Dr. Wiseman’s ‘suc- cessful operations.” " “Is he a man who is much admired and respected ?” “Naw. He never had a bank account of as much as a hundred dollars in his life.” “She 1s so disposed to be charitable that she intended to give one hundred dollars to the poor; but she didn't.” “Why not?" 4 “Why, her automobile cost that much more than she had expected, and so -”ho . was compelled to forego the pleasure. ALFALFA PHILOSOPHY. Prob’ly it's a good thing to be sure you're right an’ then go ahead, but knowed some marriages 'at would have lasted longer an’ ben happler ef the par- ties to it hedn’t seen the right so dum hard es they did. T've kpowed lots of fellers 'at drank stuff to take away their brains w'en I shouldn’t hev s'posed they'd hev thought they hed any to spare 'ri,\ey say they’'s no fool like an old fool, but seems ter me at a young fool ‘at's startin’ out ter be an old one could give him a few pinters in the game an’ then beat him out. I b'lieve in a millenyum, but the kind I b'lieve in is the kind a feller kin add a few golden touches to ev'ry day he lves. Look ’'fore you leap's a good rewl, but ef you look too derned long I've noticed ‘at some other feller gen'ly leaps first an’ gits the prize. I've heerd fellers claim 'at heaven wus their home, an', o' course, I didn’t dis- belteve ‘em, but it looked ter me, of they wanted ter git home, they’'d better buy a return ticket pretty dern soon. Wot I keep tryin’ fer, an’ never at- tainin’, es ter be jest es sorry w'en some other féller barks his shins es wen £ do.” A philosopher es a feller thet tells you how things is, but w'en you ask him w'y they is, all he says is, “Hs-s-sh!” W'en I want ter understand the wick- edest man 1 look in myself, an’ w'en I want ter comprehend the best man I da the same thing. PRICE OF WINNING LAURELS. The price of winning laurels in this world is ceaseless work, | For there’s only rue and nightshade fom the loafer and the shirk. While you're resting, and digesting the thing you meant to do, Some other fellow's working, and he's sure to do it, too. It is sweet to gather flowers, but if is the wheat that counts: And while you're looking at the hill, an~ other fellow meunts, For there's ne’er a fact that's truem, though another fact may smirk, Than the price of winning laurels in this world 1s ceaseless work. I knew a man of genius, but his genius came to naught, For the truth that toiling’s gaining is the truth he never caught; And the men whose minds were slowes passed him surely in the race, For he used his time in resting, and he couldn't keep the pace. The genius that is c’er unused doth not a whit avall, For mediocre talent stronger sail Oh, it's well to hold the notion, where the countless mishaps lurk, That the price of winning laurels in this world Is ceaseless work. s bl 4 bears the surer, “I see that McCurdy’s resignation was | accepted, while a few gratifying enco- miums were heaved in his direction.” “Yes. Alas!” “Why do you say ‘alas’?" “To think of his unfortunate family, thus deprived of their only support!” CLEAR THE MIND FOR ACTION By Dorothy Fenimore. - | — OU know him, don’t you, the man Y who is always ready for emergen- cies that never arise? He carries, stowed away about his perscn, a set of pocket tools, a corkscrew, a fruit knife, a nut pick, pencils, a fountain pen, books and a.city gulde. His traveling outfit is something formid- able, with its eating paraphernalia, its flasks, the rubber cushions which he takes to sit upon and to place behind his back. He wears books out by carrying them dround, although he never opens their covers; their weight and bulk have be- come so much a matter of necessity to him that he would feel uncomfortable and half-dressed without them. He prides himself upon being ready for emergencies. Is he? Ninety-nine cases out of a hun- dred he isn't. An emergency is an unex- pected situation—one that you, are not prepared for. It is an occasion which tests your ingenuity. In order to be ready for emergencies you do not need tools in your pocket so much as you need ideas in your head. Under the former circumstances you are a slave to opportunity; under the latter you are the master, and opportunity is your genius of the lamp. The old-fashioned housewife was one whos stored all kinds of things away in her attic and cellar, in the hope that they might come in handy some day. Every spring she tired her back looking them over and dusting them off. Usually her heirs inherited them and sold them for junk, not appreciating In the slightest Jegree her foresight or the dellar or two which the sale of them brought. The new-fashioned housekeeper clears out of her house all the useless stuff pos- sible. She wants time to live. Her prob- lem is, not how she shall prepare for emergencies which perhaps may arise, but how she shall fit herself to be equal to the perplexities of to-day. , The acquisition of useless information amounts to the same thing. Only a ge- nius can afford to be a walking reference library. Brains gather dust when they are overcrowded, just as bookeases or at- tics do. For the practical purposes of dally life HIS FATHER’S IDEA. The Artist—Father, I have just sold that painting for $3000. . The Father—Fine! Now you'll be able to quit painting and go into some kind of business. ¢ one does well who keeps his mind cleared for action, like the deck of a man-of- war. The college student who spends three hours over three lines of Greek, flitting from flower to flower, gains less advan- tage from the amount of learning. as such, which he acquires than from asso- clation of Ideas, a knowledge of sources of information, and from the habit of application which he forms. Next of kin to the man who is always ready for a possible emergency Is the one who is just about to do something great. Many types of this individual have be- ccme classic. There was Tartarin, around whose door in Tarascon the boys used to sing a song about somebody whe had a gun that never went off. There was Longfellow's charactsr of Kavanagh, the dllettant minister, whose great work was always just about to be written. A figure still more regrettable is the painter of Henry James’ “Madonna of the Future,” who made so many stud- fes of his ideal Madonna that when his model, who was bis wife, had grown old and faded he had not yet begun upon the final paiating. For most of us the best preparation for emergencies is sleep enough and food enough, work enough and play enough, and a lot of little troubles. If you keep a clear head and a steady hand and a habit of dealing with gveryday difficulties capably, you are more ready for possible emergencies than the man is who de- pends upon an armory of tools and ‘weapons which rusty from disuse. SKELETON N THEIR CLOSET. Billy Turtle-Green—Ma, why can't we have soup for dinner, same as they do over to Bully Frog's? Mrs. Turtle-Green—Sh! Haven't I told you that is a subject never to be mentioned in our famlly!—Brooklym Life. ————— Townsend's California glace fruilts and choicest candies In artistic fire- etched boxes. New store, 767 Market. * —_——— Special information supplied daily to business houses and public men by the Press Clipping Bureau (Allen's), 30 Cali~ fornia street. Telephone Main 1042. * PROOF. Magistrate—Did you strike this man? Prisoner—I did, but he made the first assault. Magistrate—How was that? Prisoner—He struck me for $5. i