The San Francisco Call. Newspaper, December 31, 1905, Page 32

| | | | § LIPS S B LADY S CHARITABLE e CURZON One of the Oldest Women in | England Is Among Those | Who Receive Her Bounty | many enjoys women in e vener- is hame f age, 8 Reigat nt gave evesigh Thanks to Miss Havle is Message Will Circle the World. IN ngement le com- hat the € circuit in about ten seconds who have been e: - upon the strik- nce betwee o) and " t never varies nditions far better &n brewed ale. It use it is Bottled by the same scrupulous in wh it is brewed— an innovation. Buyinz and Worth Tryinz just o nee the strides made in the brewing indnstry. Apply to ar er, or €. H. VANS & SONS, Established 1756 Brewery Sottling Works, the brewers Weort Bo! SHERWOOD & SHERWOOD, Headaches Contains mo bromides or heart depressing drugs. No fear of heart failure after using it. It'seffervescent, removesthe canse of headaches. Acts pleasantly and above all healthfully, Favored by Physicians and the Pl.blic’ Jor more than 60 years. At $0c and $1, or by mail from THE TARRANT English | | | where PLAKS T0 A THE LNENPLOYED | | Joseph Fels, the Millionaire, Would Cut Up the Large Estates of Great Britain FOR THE POOR LAND Agriculture, He Contends, if Properly Carried Out Will Solve the Big Problem Special Dispatch to The Call, LONDON, Dec. 30.—Joseph Fels, the Anglo-American millionaire, who has inte ted himself deeply in the Eng- lish unemployed problem, has gone to the United States in order to study similar industrial issues which affect America. Fels recently offered to en- | able a number of public and municipal bodies in England to start farm colo- nies throughout the country, and in order to ascertain just how far-reach- ing his proposals are and what their uitimate result if put into practical n might be, your correspond- lled on him at his London office. 1 belleve,” said Fels, “that my pro- posals would ultimately solve the prob- lem of the unemployed in this coun- try. M ain object in Interesting my- self in this matter is to call attention to the real problem which lies at the base of the whole matter~-that of the land. In the first place, I don't be- | lieve in private ownership of land at {8ll, but of course that has nothing to do with the present case “However, let us put the matter in an- other light first. ent boards of I am now aiding differ- guardians and other public bodles to form farm colo- s of the unemploved. This will ul- timately result in giving to each fami what I call & small farm-garden of, sa: about five acres. Of course, only such men will be allowed to work this land as oved themselves good agricuitur- he farm colonies, first. These 1 begin what we call the intensive ivation of the sofl—that is, working under the most up-to-date modern sclen- tific methods.” ut how about skilled farrpers who are willing to work the land, but it?’ was Interposed. already >u describe was the reply. vate purposes; and who, at pres- , do not use the soil for agriculture in s true use.” But how can you make iese rich peo- divide up their land?" was asked. dh, rather easl was Mr. Fels quick response. ‘“‘When individual farm- gardeners in various places in Great Britain prove how successful they are there will be created all over the country an acute land hunger for small holdings among the poor. This will bring about a | big agitation and the people will insist on separation of taxation—that is on land yuse property—and the general tax- of land values. This will place all taxes for public purposes on the land— t belongs—and these taxes will no longer be permitted to cripple industry by taxing our buildings and our labor. 1f taxation of land values was brought ato force,” continued Mr., Fels, ‘“‘all the estates would be split up automat- and such tremendous impetus would be given to building and industrial projects generally that no one would be | out of employment who could do any work. “The breaking up of these great landed estates would result in im- mense benefit to England. I actually know of thousands of cases where skilled farm cultivators cannot get work simply because the big landlords won't let them have the land. The proper taxation of land values will make these great land owners let go, and then the people can get the land at reasonable figures.” “But poor persons like the unem- ployed could not afford to buy land.” “Quite true,” responded Mr. Fels, would I actually give it to them. uld make them pay for it at the lowest nominal rate consistent with a low interest on the investment of whatever public body or private person bought the land and placed it at the disposal of these people.” LFE OF HARS FVER PLEKSHNT Astronomer Flammarion Be- lieves Sister Planet Has Advantages Over Earth e Special Cable to The Call and New York Her- ald. Copyright, 1905, by the New York Herald Publishing Company. PARIS, Dec. 30.—M. Camille Flam- marion, the famous author and astrono- mer, in an interview in one of the Paris papers, draws an extremely attractive picture of the life on Mars. After pointing out that no one can predict what weather Paris will have next week, while it is known with the ut- most certainty whbat kind of weather any country in Mars will have a fort- night in advance, M. Flammarion goes on to say: “There are many advantages in favor of the Martians. First of all, it would be difficult for the human species there to be less intelligent than ours, seeing that we do not know how to control ourselves. “The second reason is that progress is an absolute law, which nothing can resist. The Inhabitants of Mars, be- ing older than we are, may represent | what we shall be in years. third circumstance in their favor is that they are in a better position than we are to free themselves more quickly from the heaviness of matter, as the Martians weigh less. There the years are twice as long as ours on earth. 3 “Finally, the climatic conditions on Mars appear to be much more agree- able.” M. Flammarion declares that the hypothesis that Mars Is inhabited by an intellectual race much superior to our own is growing stronger every year, in proportion as astronomical ob- servations become more and more pre- cise. several million ———— A woman thinks there is something the matter with a man who refuses to argue CO., ¢4 Hudson Street, N, ¥, | with her. R THEVES FLUDE POLEE Break Into the Government House and Empty It of Nearly All the Furniture . — 1' S RAGLAN o = | LIEUTENANT GOVERNOR OF ISLE OF M. ., WHOSE HOUSE WAS RECENTLY ROBBED. : - — LONDON, Dec. 30.—If Hall Caine were addicted to comedy he might find mate- rial for a funny situation in something that has just happened in his beloved Isle of Man. Burglars have emptied Govern- ment House of nearly every stick of its furniture, and in consequence the Lieu- tenant Governor, Lord Raglan, has to stay in lodgings until the place can be fixed up for him again. The spoils taken away by the thieves amounted to several van loads, and it says little for the vig- ilance of the Manx police that such a big haul could have been made undetected. The Manx Legislature only a little while ago compieted the building of a new Gov- ernment House, for which Lord Raglan, according to the agreement, was to pro- vide the furniture. He did it in style, but apparently as fast as it was taken in at one door the enterprising burglars re- moved it by another. When his lordship arrived to take possession, intending to give a big house-warming party, for which scores of invitations had been is- sued, he found its halls practically bare. What he said on making the discovery is not recorded, but as he has been in the army and is as familiar as Kipling with barrack-room expletives it may be taken for granted that he did ample justice to the situation. The Governorship of the Isle of Man'is one of the snuggest sinecures within the gift of the crown. In additional to an of- ficial residence rent free the lucky in- cumbent gets a salary of $8400 a year. Its bestowal on Lord Raglan exemplifies the Scriptural saying, “To him that hath shail be given.” Because his father com- manded the British army in the Crimean war he receives a pension of $10,000 & year. There have been few wars that have been bungled through in worse fachion than the Crimean, but that dia not moderate the gratitude of the nation toward the field marshal who succeeded in getting it finished. Besides the pen- sion, the nation presented him with a fine residence. The pension runs for only two lives, but it has already cost the treasury $500,000, and as Lord Raglan is only 48 vears old it'is likely to cost a good deal more before death terminates it. Because he was the son of a distin- guished father Queen Victoria appointed Lord Raglan a page of honor when he was but a boy. In those days a royal page had the privilege of passing through Sandhurst, the great military academy of England, practically without having to undergo any examination, and thereupon obtain a commission in the aristocratic Grenadier Guards. It is to Lord Raglan's credit that he turned out a fine soldier in spite of the way the path was smoothed over for him. As orderly officer to Bir Robert Phayre in the second Afghan war he narrowly es- caped the coveted Victorian Cross for ral- lying a wavering body of men demor- alized by seeing their leader killed. Lord Raglan led them up the height, routed the Afghans and then calmly reportedy himself to the general. He was for two yvears Under Secretary for War at the War Office, and they were not wholly happy ones for him, for he found that much-anathematized depart- ment in a state of chaos. The permanent staff, the ‘‘barnacles of Pall Mall,” did not take kindly to the criticisms of the Under Secretary, and he was glad to re- linquish the rather ungrateful office for such a soft snap as the Governorship of the Isle of Man. He is a fine figure of a man, standing well over six feet, and with an eye as keen as a hawk's. —_————e Last Honors for Prefontaine. PARIS, Dec. 30.—Impressive funeral i profits shown on the wide advances | ment of the dividend and interest due, . believed also that the accumulation of STOUK NARKET 1S UNSETTLED Last Business Day of the Year Proves to Be an Act- ive One on the Exchange UL S OME RAPID DECLINES Great Cofifidence Expressed That Money Stringency Will Be Soon Relieved NEW YORK, Dec. 30.—The last day of the year proved a very active one on the Stock Exchange, but the tone of the market was considerably unsettled. There was a disposition to realize the of the last few days and to escape the risks of the rewmaining uncertainties over the money market. The absorp- tive power of the market, however, proved good, and the realizing was effected without material damage to prices. There were some decidedly feverish movements in the closing deal- ings, when hasty throwing over of holdings caused a number of rapid de- clines, followed, in some cases, by rapid recoveries. The range In Amal- gamated Copper and Anaconda was espectally wide and rapid. The imimediate outlook in the money market seems much obscured. The greatest reliance is placed for éarly relief from stringency on the disburse- for the payment of which great funds have been umulated. The severity of this week's stringency Is attributed principally to this preparation. It is resources by the trust companies for the purpose of “window dressing” for the January 1 statement of thefr con- dition, which is required of those in- stitutions, has played an important part in the contraction of the week's money supply, and prompt relief is hoped for from the release of funds accumulated for this purpose. On the other hand, there is some apprehension that very heavy obligations contracted in the course of the speculation may fall due next week, especially in the foreign exchange market, and will require to be met or renewed. HEAVY LENDING BY BANKS. There was much discussion of the probable effect on sentiment of the De cember charges for interest which will go out to the customers of Stock Ex- change commission houses next week and which, it is believed, will disclose 2 high average of carrying charges. Little attention was paid to the bank statement, which conformed pretty closely to the expectations in the cash change. The heaviest lending by the banks is supposed to have been done toward the end of the' week, and thus would have a diminished effect in the average changes for the week asa whole. Total $1,970,000. Speculation has maintained a buoyant confidence this week in face of the se- verest stringency of the money market and of one or two episodes that would have been seized upon to upset confidence in ordinary times. The eagerness of the speculation after chafing impatiently un- der the constraint of the high money rates and some degree of foreed liquida- tion broke through all repressive influ- ences, and there was a rush to buy stocks at rapidly rising prices. The demonstra- tion was unprecedented in the experience of the oldest operators, and was viewed with unaffected amazement and some de- gree of irrepressible anxiety. The rates paid for money on call at the Stock Ex- change reached 110 per cent, and 125 per cent was paid privately. RISE IN THE MONEY RATE. In times past such a rise in the money rate has precipitated heavy liquidation of stocks, and even in the full tide of a ris- ing market has turned prices abruptly downward and thrown the market into panicky conditions. The most notable precedent was that of December 18, 1899, when animated speculation for the rise was interrupted by the outbreak of the Boer war and heavy demands upon New York for gold by London. The exhaus- tion of bank reserves here, which resulted in the necessity for calling in loans, ran the rate for money on call up to 186 per cent and forced a spasm of liquidation of stocks to recuperate the banking position. This week’s rate for money was. the high- est touched at the Stock Exchange since that time. In September of 1902° the strain on the overextended speculative position did not carry the rate higher than 8 per cent. In the panic of May, 1901, precipitated by the Northern Pacific corner, the highest rate quoted was 75 per cent. On all of these occasions the running up of the money rate was the signal for indiscrim- inate unloading of stm:k\tha rate of in- terest being regarded as“prohibitive of holding of stocks on margin. In strong contrast with these precedents the speculative position has been firmly maintained this week, and rates for money formerly regarded as prohibitive have been pald by speculative holders. Various motives may be distinguished to make up the obstinate confidence with which the speculative position has been maintained. Underlying them all is the conviction that he conditions of prosper- sales of bonds, par value, ity in the country at large, aiready be- yond all precedent, are destined to a fur- |- ther indefinite expansion. It is asserted that an enormous potentlal but waiting demand for securities exists in the coun- try, which will be incited by the grow- ing evidence of this prosperity, and which will develop in the stock market when the seasonable requirements of the money market are satisfled and when funds be- gin to flow back into the channels of the bank reserves. AWAIT FORCED SELLING. It is the conviction of thé followers of speculation that the great capitalists of the country have organized their forces and provided themselves with means in- dependent of the exigencies of the call money market, to take advantage of any | forced selling on the part of less fortunate holders to accumulate securities. H The expected coming demand for stocks is relied upon to absorb present holdings and to advance prices to an extent that services occurred to-day at the Church | will pay for the fraction of one per cent ot the Madeleine here over the body of | per day, which present interest rates Raimond Prefontaine, the Canadian {amount to in addition to the prices now Minister of Marine and Fisheries, who | paid for stocks. The position implies re- died in Paris December 25. The Gov- |llance on a prompt relaxation in the ex- ernment rendered military honors, | treme tension of money after the year- President Loubet was represented and | end requirements are met, which will put all the Cabinet Ministers attended.|a short limit cn the present exhausting Marine Minister Thomson pronounced a | rates paid for interest. Rumor and un- discourse on the ties uniting France | verfled asserticn of measures for relief and Canada and Randolph Lemieux, the | for the money market have played a part Canadian Solicitor General, replied in [in keeping up the speculative excitement behalf of Canada. The body will be|and In encouraging disregard of present trapsported to Canada by the British | money difficulties. - battleship Dominion. In:unm. reports have been circu- ——i e lated of the intention of tl ~ One Minute Toothache Drops Cure|tary of the Treas ug to depoomusl.:;:o Instantly, 15c. Family size, 25¢. - amounts of the Government surplus in —————————— national banks. Rumors were current ( FISEANG, Ot Ber M Pieine Cul | of the tormation ¢ money Dool was a Quaker instifution. The bullding and | 8MODg the great New York banks to contents were valued at $75,000. provide a fund for lending in the stock s sure e 0/ lnventoy Sale In order to reduce our_stock for inventory, we will this week offer special induce- ments for you to purchase your household goods at our immense store. The articles here shown are all very hand- some pieces, made of the best rials and will last a lifetime. mate: W in showing you our st Given DEST AND MOST RELIABLE FURNITURE KOUSE IN THE CITY HIOMAN FURMITURE ¢ LO17-102f MISSION ST ABOVESIXTH They are just what a person of moderate means wishes to put into his home. have other geods that are more expensive, while others are not so high priced, our aim being to please everybody and accommodate each one’s pocket-book. We have a com- petent force of salesmen who will take plea- , and you will find that it will pay you to buy from us during this week. Special With every $5.00 purchase we will give, free, a beautiful near cut glass Berry Set (like cut), consisting of 1 Jarge and 6 small nappies. Talking Machines purchase ~amounting to $150.00. These machines sell for $20.00 wpward, and are the celebrated “Victor’” and “Talkophone™ make. away FREE with every % 2 » THE SAN FRANCISCO CALL, SUNDAY, DECEMBER 31, 1905. e —— (4 market, as was done in the period of | stringency of 1902. A tacit agree- | ment was allowed among banks and | great money lenders to restrict the rate demanded on standing call loans until the passing of the crisis. These | factors combined to protect the stock market from damaging consequences from the stringent money market. CAUSE OF THE STRINGENCY. The cause of the stringency is sum- marized as great activity in trade and expansion in enterprise in all lines, delayed outgo of cotton and grain shipments by railroad freight conges- tion’ which limits the supply of for-| eign exchange, the pressure on for- | eign money markets because of the | Russian situation, which discourages the drawing of exchange in anticjpa- | tion of merchandise exports and the | unbridled demands o1 the stock specu- lation coming on top of an already over-extended credit position. The soundness of the foreign business sit- uation is without question and the Chicago bank troubles last week and ! those at Memphis this week have not fmpaired the feeling of confidence. | But the clearly defined opinion exists | that the speculative extensions at this time in face of the strained money sit- uation exceed in boldness and daring | i i i anything in the modern history of | speculation. Pealings in bonds have been mod- crate and the market has not been free | from depression. United States 2s advanced % and the 38 and old 4s % per cent on call on the week. —_————————— DECISION OF COURT MAKES BONDS VALID Supreme Justices Declare San Diego High School Issue Is Legal. SAN DIEGO, Dec. 30.—The basis of the objection to the $135,000 San Diego High School bonds was not a defect in | the issue, but the pendency of a suit in the Supreme Court of this State which raised the awestion of the pow- er of the High School Board to is- sue such bonds. Advices from the New York attorneys to whom the pur- chasers submitted the bonds merely advise awaiting a decision by the Su- preme Court. Since this advice was written, however, the Supreme Court | has reached a conclusion in the case, which arose in Los Angeles, affirming | the power of the High School Board to issue bonds of a like character. It is expected no further hitch will oec- cur in the matter of disposal of the bonds. e ep—— STEAMER CELTIC DAMAGED IN A TERRIFIC HURRICANE Enormous Sea Breaks Over Starboard Quarter and Rips Out Section of Bulwarks. NEW YORK, Dec. 30.—The White Star steamer Celtic, which arrived to- day from Liverpool, encountered a ter- rific hurricane on Christmas day. Enormous seas retarded the steamer's progress, the day's run from noon on the 25th to noon on the 26th being only 188 Knots. An enormous sea broke over the starboard auarter and ripped | out a section of the heavily plated waist bulwarks. The uprights were snapped off and several other sections were dented in. The portion swept | away was held by. rivets one and a | half inches thick, but these to the number of fifty ware drawn apart. The sea swept through the engineer's gangway, flooding .various compart- ments, and smashed in windows, doors and deadlights. ————— OFFICERS OF MASONIC LODGE | OF SANTA CRUZ INSTALLED Handsome Jewel Iy Presented to Past Master Herbert ‘ stL SANTA CRUZ, Dec. 30.—Past Master Lucas installed the following officers of Santa Cruz Lodge No. 38, F. and A. M., at Masonic Hall, Thursday | night: Master, George Henry Rostron; sen- jor warden, Willlam Caleb Izant: jun- jor warden, Ralph John Mattison; treasurer, Henry Willey; secretary. BEdward Swift West; senior deacon, Philip Sheridan Curtls; junior deacon, Percy Arthur Izant; marshal, Law- rence Lorenzen; stewards, Richard ! ‘W. Drum and Charles R. Meadows; tyler, George Washington Wells. Past Master HerWert Still was pre- sented with a past master’s jewel. CLEARINGS OF BANKS SHOW NEW RECORD Heavy Volume of Business in New York During the Past Year. NEW YORK, Dec. 20.—The hu‘sines! of the last year in the New York Clear- ing-house established a new record for bank clearings. The clearings were $53,82 60,201, the balances §3,963,- 546.019. he total dealings on the New York Stock Exchange, with to-day’s dealings not included, were 211,8 0 listed shares of stocks and 48,36 shares of unlisted stocks: Government bonds, 50,000; State and railroad bond unlisted bonds, $180, tora-house for 1904, compared with 1965, was as follows. Gold and silver coin and bullion imported in 1904, $14,- 623,800; in 1905, $23,176,623. Exported in 1904, $141,443,656; in 1905, $698,- 568,112, Merchandise imported in 1904, $630,- 05, 2 in 19¢4, $491,415,423; In 1905, $ 9,788. Exported, foreign, in 1904, $13,334,759; in 1906, $13,319,109. Duties collected on merchandise in 1904, $170,270,776; in 1905, $167,502,9%0. Merchandise shipped to Porto Rico in 1904, $3,351,192; in 1905. $12,811,874. Merchandise shipped to Hawall 1904, $163,513; In 1908, $265,540. The sales of coffee on the New York Exchange amounted to 21,242.2% bags, against 25,487,500 year. domestic in — e —— A New Year's Outing at Low Cost. Round-trip tickets to Paso Robles Hot Springs $7 20. Sold December 30 axd 3f. uary 1. Return lmit January I house. Finest in America. « Particulars of Southern Pacific age Actor Smith Dies of Wound. DANVILLE, IiL, Deec. 30.—Charles H. Smith of the “Two Johns” company, who was shot on Wednesday by C. F. Cooper, a New York theatrical man- ager, in the former’'s room at the Sa toga Hotel because of his attentions to Cooper’s wife, also a member of the “Two Johns” company, died at the hos- pital yesterday. After the inquest Cor- oner Speakman held Cooper without bond. THIRTY-SECOND SEMI-ANNUAL STATEMENT —OF THE—. MUTUAL SAVINGS BANK OF SAN FRANCISCO No. 710 Bia Capital stock subscribed. Of which has been paid in gold Statement of the condition and val rket Street -een-.--$1,000,000 300,000 320,000 ue of the Assets and Liabilities of the Mutual Savings Bank of San Francisco, a corporation doing business at 710 said Market street, city of San Francisco, assets were situated on December 30th, Bank Premises ............ Real Estate taken for debt. . cllaneous Bonds .. Said bonds are kept in tha vaults o Market street, San Francisco, and are Omnibus Cable Railway Co. C per cent; Redwood City Munic cent; Oakland Transit Co, § per cent Railwey Co.. 5 per cent; Powell-stree Oakland Transit Co., 5 per cent; Oakla 0., § per cent; Szflnx Valley Wate; Angeles Railway Co, 5 per cent; Sa cific Railway Co., 5 per cent; City a cisco, Golden Gate Park and Presidi Spring Valley Water Works, second cific Electric Railway Co., 5 per cent; California, 5 per cent; Southern Pac! (1906), 6 per cent; Northern Railwa! South Pacific Coast Railway Co., 4 per est guaranteed by Southern Pacific C solidated, 5 per cent; Mill Valley an Railway Co., 5 per cent; Market-stre: cent; Los Angeles Traction Co., 6 pe ter Co., 5 per cent. . Prom!m? Notes secured hy first In the City and County of San Franc: In the State of California and outsk cisco . Promissory Notes secured by bonds an norations ... .. Furniture and Fixtures . Taxes paid in advance. .. Cash in zold, silver and currency: In vault . e e In banks Totnl Assets .... ASSETS. ited States Bonds: registered 3 per cent of 1980 State ., 1905: of California, and where i this Corperation at 710 as follows: 6 per cent; Los Angeles Lighting ipal Improvement, 413 per ; California Northwestern t Rallway Co., 6 per cent; nd Gas, Light and Heating r Works, & per cent; Los n Francisco and North Pa- nd County of San Fran- 0o Extension, 33 per cent: mortgage, 4 per cent; Pa Northern Railway Co. of ific Railroad of California - y of California, 6 per cent; 3 cent, principal and inter- 0.; Oakland Traction Con- d Mt Tamalpais Scenic * et Cable Railway Co., § per r cent; Contra Costa Wa- xaxe on real estate: i8¢0 ....... - de San Fran- s ceseea. AS23TO 00 5438977 58 ares of stock of cor- LIABILITIES, < posits amounting to and | To depositors this e-rnrl:t.h- owes de the actual value of wh . ‘en To stockholders the amount of capital of which is . Sunplun . X000 e (The condition of said liability to part of the amount can be paid to them except in payment of losses dur|n¥ the tion, nor until the depositors shall hav amount of their deposits and declared aceruea Contingent Fund, exclusive of on investments Total Liabilities . ....... ... 510,213,501 48 actual l.l-..l 300,000 00 320,000 00 Stockholder ‘no or in any way withdrawn, eei{!tenct &l l(he Corpora- een pal n ful dividends.) o5 i but uncollected interest B cesriiaces sasencacaea, SIOD00A4T 24 + MUTUAL SAVIlNOS BANK OF SAN FRANCISCO GEORGE A. STORY, Cashier. State of California, City and County of We do solemnly swear that knowledge of the maftters contained 1 allegation, nn(omo::i matter and thing of our knowledge and belief. GEORGE A. STORY, Cashler. Subscribed and sworn to before me this 30th day of Notary Public in and for the Cit; ifornia. v we have (and each of us has) a By JAMES D. PHELAN, President. f San Francisco—ss. nal the foregoing report and tlu't.m therein con! is true, to thc"b.:-{ JAMES D. PHELAN, President. December, 1905. D. McELR/ County of San Francisco, State ot ‘cal- n THE ROOSEVELT BEARS NEXT SUNDAY !