The evening world. Newspaper, March 1, 1907, Page 16

World’s Daily Magazine, Friday, March 1, 1907. : It's Up to Him -_-._._| SIXTY HEROES : By Maurice Ketten, : WHO MADE HISTORY | By Albert -Payson Terhune. Ss f UR] : | No. 24—-EDWARD I. —The King Who Believed In “Expansion.” 5 | ie ToHIn wei ‘ 'F-ADWARD 1. of ‘ ‘ter warrior, Just man J : The Evening | | i “ STOCKS, BONDS PRINTING: PRESS Y sary equipment with which to begin the issue oe, s and bonds. In the popular mind there is a confusion-as-tthe mamtern-whigh-such-matters + ate~comndtcted—it—Walt-Street-hieh financial circles] through the mistaken belief that a railroad mortgage he same as the- ordinary real_esiate mortgage, and that Wall stocks are'like the stock issued tnder the lai business corporations. : Many. of these railroad corporations are in re: 0 ra panies at all, but only holding ‘corporations unrestricted in their i ; n y to the nominal supervision of such ersey-and-Kent = - > King John who weas = a a giving fair play a fighting inan, rare the only neces- one of the greatest soldiers [Wien John died he v jeMcient driveler, who refined newriy dh ch Stephen Langton had so bravely defended, now {0} jin Simon de Montfort, Barl pihat-the=Great couiel "( Liepresentatives fron’ c F other cltize Heury HL, a weak, in zh poople’s. rights, nd champion cester, who made and, enforced a law. Varliament) should contain two after tie rights of tradesfolk, and 2 Henry“ 11J., who. could see no particular adyantige ta himeeif-In-such-a plan, oppressed the people, and Simon, at the: head of the barons, made war.on hi Henry and his eldest son, Prince Edward, wero Imprisoned, and Simon swas for a so the real ruler of Eng-\ land, ~ Then Prince Edward my and attacked Simon, = = a aes CANE him tn tate wad win r his father. Though + atc : | Henry Ilved seven years longer, ard from now on took control of tha = 2 The difference between a-bond and-stock is that _a bond is a promise} | RR. a : kingdom: He_was crowned: In_1271, and ai oncee*male his. presence and= = to pay anda share of stock is only-a certificate of a f nal ownership} {COMMISSION f fa S [ideas felt from one end of the country to the other, s ee epay a y may have no value whatsoever except. for gam- |. Edward's chief aim in life! was to unite d, Wales and Scotland in an equity. The equity may have no ican ace i [into one kingdom under his own rule. He first attacked Wales, a wild, » bling'purposes, The bonds may have little value. Instead of being’ real warlike principality, governed by a'chiet. named 4 inary real éstate or chattel morteage, the bonds Lioweilyn and populated” by the descendants y Property, such as the ordinary real ¢ Ls i us Penal of the anclent Britons, Edward beat the Welsh | ‘nd stocks of such reorganized corpora as the Chicago and Alton, in battle, killing Llewellyn. Then he set about ‘ cific. the sland other made-over Wall street “se- } = contiating§ the” conquered Jand.—-In—place-ot- me - Union Pacific, the Rock Island a er ‘ Street | the Prince they had lest he preni them a new prince—not daineisa® ; Curities” are little more than gambling chips. j Englishman, but one who should have beén born in Wales and speak no Intrinsic value has little ‘to do the*speculative value of any gambling chip. In a professional - of Btiglish. ‘The Welsh were partly pacified by this pledge. But a few months later Baward, calling them ‘together ta do homage to this gambling-house the value of the isfixed ‘by the proprietor.-In mysterious Prince, presented to them hls Infant son (afterward Edward 11), who had Just been horn in Wates, and who, being but a few days Nall. street the Value of the chips determined on the Stock Ex- | oid, spoke no English or any other language, Thus, Edward claimed, he + had Kept hie-piedze—-Krom that tumete ie present day the King of Eng- | land’s eldest son fs always known as “Prince of Wa Edward's next and greatest move was against Scotland. This country xe by rich syndicates _and werful banking houses. 2 }—fallroading—there—is —abways- me-tangible—property.—The case. josed in Mr. Harriman’s trans- had once, for a time, been subject to England, but Richard Lio i ¢ ; E gland, ard Lion Heart (Edward's gregt-uncle) had freed {t fre legiance in return for.a-aum—-- of money for the crusades. “Since tien, Scotland had been an independent i nation. “But now, tts rightful _King-dying--there’ were “several -clalmantn — 2 Whesttreme Eitward vatint into rottin the dismts:——Thte- was nis, where —bonds —were—issued = = a ‘on a,branch railroad which was riever built, is unusual. The established, S always to have tracks, a right of way, cars, freight-yards and What thes: cost is represented by an issue of first mortgage dust the chance for qwhich Edward had heen longing. He decta ri r j heen longing. clded in favor of one of the claimants, Hallol by name, on the understanding that Baliol | ' Ms, the interest of which must be-pais-orthe railroad will become |, souvent, - Dee ee Odd Origin cf the Title { “Prince cf Wales.” HE WANTS To} TRAVEL Too X_FAST {Should acknowledge him as overlord. Balfol wasted Nttle time in break- jing this pledge and forming an_alllance with_Franee—Kdward invaded "| Scotland, defeated Ballol's army (in 1296) re ‘ SEO y ( 1296), captured Ballol himself and sent For the moment Scotland was at FE Tuercy. He cowed or bribed into submission, and Edward's dros of usleaens a realized. He ruled a united kingdom. That the i unity was oreed hyfire and sword did not--— Seem, to trouble the conqueror to any great degree, But the unlon was shortlyed. Willian lice, a gallant Scot whose wife Se tuurdered Ly one of Edward's officials, ralsed an army of Peete nen Without the ald of the powerfat Scotch nobles, rebelled against England, Wallace swept the English off much of their hardly captured Scottish soll i defeated them in open battle and recaptured many of the castles, towns and other strongholds Edward had taken. This wis a triumph for de- mocracy. Heretofore {t had been thought war could not be waged without the help Jf the nobles, Also it had been declared that mere peasants could never hold thelr own agalnst urmed knights. William Wallace, true patriot {and champion of Mherty. disproved those fallacles-gn+-taught-the world the real fighting strength of the plain people. But at last Edward advanced, with a mighty force agalnat-him. Wallace's adherents deserted. Wallace” goes into the pockets of the men sina ml eh i i i @: ir who control the corporation, brave. follower raising or arming more men.. Edward crushed his band of i = 2 ia ~ ~ = captured Wallace and after a mere ‘kery of a trial put |___The investors who buy these} jn soa = Ey aay: E SAAR ARSE RUEN Te ete to den thr: scm aang -Alter“acmen < a_tri : = 2 : ____ Then, having again subdued Scotland. the English King .treated-the con-—-—~ —bonds are creditors, not.ows tL ——— ‘ quered nation on the whole very mercifully and governed {t judiciously. their interest is not paid they can For, in spite of the cruel times {n which he Hyed, Edward was a just and apply for a receiver, There are atl- : i = * 2 a Siva coaaathiy ig fsishlhteie eselincary tapes ate 3 a faite a enue wise ruler. However, scarce had the English settled down from the -war-—-— ifional kinds of bonds, such as debentures, inéome ‘bonds and deferred The Decadence of Draw Poker. wt we wt By an Old-Timer. when Robert Bruce, a friend of Wallace, In whose veins ran the royal blood bonils, whose holders are creditors, but so secondary to the first and of old Scotch kings, cast away England's yoke and declared ‘himself for freedom. After varying fortunes he made such headway that In 1307 King - t}-Bdward again marched. nerD-to-put-down-this-intest-revolt: But” Baw! rd” 2 ili ci "i - Nonage In which nothing ts held ‘sacred; from tht Constitution to marriage, the’play higher, faster and-more exciting, and I'nm not prepared: to nay that tt : 2 ¢ tent Et mortgage bonds that their: lien is Speculative. séJ I suppose it ts too much to expect that draw poker should be exempt would not accomplish thla in a iio-llmlt game or in a table stakes game, but you ee ora omiey Ce estan bias ibel srenwas. nearly sox enty and his splendid: ~ Stockholders ot Creditors “at-atl-and=- minority stockholders have] ——a—crsnrtiny-pornicious activity of-the reformer;''-mald-the-eray-halred-young--don‘t-find-elther of {hose {nthe averags-pokar party. —~pbhssique—had—been— axed ie" Way northward he sickened and Saw d th ly fight. bec: locking sudan in the Chazleston Nows and Courter, | "The wny poker Is played nowadays reminds me of the old recipe for punch, died. Knowing hoy He re age Inspired his troops, Edward commanded eqpo.teal rights that: they do not fight for-—and they rarely fight because (iene ee sor to ine to see the many chenges that’ are‘bolng introduced according to: which-rou-put-tn-whiskey-to-make tt strong: amdwaterto.maie it Om his deathbed that lls body pe Ce theihendiot the English army legal'contests are so expensive. Preferred stock is that class of stock | crom time to timo and the generaitavor-witt whlch these changes, are regardel yeni lemon-t4-mave-H--evat—and-eugar_to-make-{; sweet: They play il decie Se Sra Sasa nee eter dis~ ap He its dividends-first- Common stock Tr “qividends only athe ee payers-—limight be claimed _that-thrso Uidiges are imoro pots to make the piay higher and then put a small limit on to prevent high play. GUBASRGCKUDTEEROR ‘aifinal viclorsathantresd Sati ave aa je fleld which-gets its-dividend 7 Common stock réceives ai is only at pat they meet with popular favor, but I think tt can casily be shown And-the limit prevents you from backing your hand when you have good cari Ush_tyrann, beau cr ease ashe an * the pleasure of the men who control the corporation. Collateral bonds re ¢ xy for the and that the «ame $s deterloratins by rea--grtpempte you ulmost lereslatlbiy to bet When your cirds nre-not-worth-backins. ann si e r ple H e We ince the stock deposited re lateral is thelr sacurily [227 oe IE Otat be trae tt ts by no means impossible that draw poker will atorvover, tt rods the game of character, in that thern Is no varlety in tho bettin i liad Ee vant i ajHivedslonese ened Bie non Edward IT., been less lary, rin reality stock, since the stock deposited as collateral is UMY | aie out after a Ume as other games have declined in favor because of having no |The ryte-almost the invariable rule inva small limlt-gainé—ecema to be to bet | Ack Npfanullnes biusten fit siarvamn : bareltsen qractlvad I eroues Fosterity SIR the “ : inst-the-pri teal-intercst : Ttho it z : sas Bears : B z p aT, yrai rufflan, was really ea Ba AY FE aU CPST CEC SUA Es PLU SES ES gc Se gon UEP hy re atic ane’ the siler night In one of thote Gamea, when’ T was aaveriy [= ETeMC ANC Th Many respects W good Kling. He was A Nerce, merelitae te t say that I preferred stralght paker to the ‘all jack’ game they were playing. You <oitiiset for ralzing four or fiye t against an ace full. when T had four kings. oa i th {iauide;berbaed aaiies ase people's rights, and a wise, gentle sieve me Ww! you that notion3| Diayer/atithe-tateknex what} 7 an a riniwas itakiter’almost unzenticmanly advantage of the other man| Tuler of the lands he annexed by conquest, - game waa. opsniy; skeptical when: told them thatthe eee a ee ne nent had Se nner pot was'a modern tnnovat!on j In ad Nn William Wattacs; Man of the People. Next it is customary to issue the second mortgage or general lien bonds for the purpose of “improve- ments-and-extensions.”— By” using dummies or through the medium of a construction company the greater .Part.of the proceeds of these bonds < o } i} tm: besten, = = fe ‘ ” be, of course, that post Indyitke pastime will entirely supplant S “OL course, every student of the game Knows that I was right. The standard It may be, 9 3 ; = z rien, of the game, written by_G hone’, samawhers about 1572, oiaka no. @raw poker, tutIcan hardly-belleve that after {t has taken the piaco of the great te” Time Yourself. Reading This. inention whatever of tho Jack pat il] BA ‘an game It will long retain Its hold on the affections of the American wa me_scems to have bren udopted on the theory that ft makes 5° with GREAT MEN } ~. ADDISON ON. THE VALUE OF TIME, IE hours of @ tise man are tcnythened- by his (deas as those of @ fool are bij his passions, ‘The time-of-the-one-is tong because he does not Fraié chat to do witht,” Sots lhut_of-the-other,-becauae-he-distine jutihes ecery- moment of “it cith-wsefulor-amustig: thowyhtas or, in other words, because the one ix glicays rcishing tt aicay qnd tne other ts-aheays " enjoying Mt. =e +} ———We-alt-of-us-complulof..the shortness. of time, saith-Seneca,-and- yet [Prave muchnore than ice know what to do with. Though we seem grieved at the shortness of life in- general, we are wishing erery-pertod-of tt-at-an-end: HP The-minor longa to-be-o-age;then-to-be-a-man-of-dusiness-then-to-retire: ‘| Thus, although the whole life in ullowed by every one to be short, the several divisions of (t appear long and tedious, (pss The way. Mr. Harrinian- made so much money was not by giving @ rservice or by lowering freight rates and fares or by making rail- more-valuable tothe community through which they ran, -but-by infing-stock-and_bonds and_then making an artificial market for them, | : Sinée ‘the prinjer turned over all the bonds and stock to Mr. Harriman | ash sales# that 15, by buying atid setting to Weinseives—they could ihe Stork Exe ‘change quotations anything they pleased. Lhey even hadsthe political | . “power to i duce the Legislature to amend the New York Savings law so that these bonds became savings bank investments, YARD The only_thing that kept them from issuing-a_billion dallars-in-stock j 7 nd-bonds-instead-of-a-few hundred millons-was thedimittotheirfacili-g | - Aies for creating an artificial market, 1 1 The testimony of Mr. Harriman, Mr. Kahn and the other*witnesses | 4 before the Interstate Commerce Commizsion emphasizes ning { 4 World's repeated advice that if a man is not content to put his savings in a savings bank-or to buy a home for his fami insists upon gam- bling, he had better stick to faro and roulette and restrict the Stock Ex- change {o preying on its own members, H +. Canal Digging and Golf. By Walter A. Sinclair. See the POUL-TRY. (Chlef\Engineer Stevens resigned from the Panama Canal job because there wera no golf nks there on whiatto play.—Item.) S oo > Pn ZEESUA , 3 ISTEN, hild: a Mh NG Letters from the People. a cu aS sed d ; | L PN, my children, and yvu silall hear rf Of the Grand Chief ReatddntEngineer,—- Who quit his job amid some hissing, r Because the missing links were missing. ? Brey Min No. Seo the Ealtor of The Bre [!a Feh, prosperous and burdened wiih n| ma rn, enervating luxuries. | [A g . {EN Stevens went to Panama we gaye three mighty cheors exrman eas born in Togland and re ardier nation eau ai — y ! SS W We hailed him as a hero and we blessed him through our teara; Le ea hl ae a i | be an exe Blea sab steveuiges alesis i For men had come to Panama and each-one took a look, = 2 HARRY H. Unvle Sun's Pnturet Tevanavaisse fay ‘And each one hastened back again and each one’s head thero shook. seathes ene For Theodore, with awful roar, held cach one to contempt, ‘And while the mud flow fast up herey the zone mud was exempt. POL. Ta Thix the . } Wher Stevens went to Panama, whero Shonts w!' Wallace bled, | And ‘when he stuck a week or more we laurel-crowned his head; ‘eding it 1 notice 1889, dled yes- S loine Yee a tien cet the ISTaAyTiwia nuts fF We halted the sturdy engineer! ‘The Hero of the Ditch," Airs Piedad had: grown powerful its yory) My, Wl readera,pleare state ie any Who didn’t drop the nation’s Job to help make Ryan. rich, Wye wWeash and greatness weakened tt so body has ever had expe of a Lind But-now Into that Isthmus trench HIS reputation sinks, ee “t rey to © unger, rougher na [living to be so old? 1 think our binds | For Stevens couldn't atay there, for there were no golfing Inks, —————~~ oe: is the record. { The younger, rotirher Greek uation . ANXIOUS, | me If. Then: Greece grew pros.) Address Tt to the Bride. | i wand luxurious, and Hy bs ie Editor of The Evening WortAy fts'Tada Mone gor. to. {1s st proper in sending a weddiny:} rougner, Dante: itt address {i bride ort: } he Lit: ‘ roars Bes seat : oe : eA teat ¥| It tle a ? { : ; ate ndventurer may,be a ragged chia, oon , a ‘ ij Davis porson who on mountain snervea can na; aa 4 Saws ivea on next to nothing and from fevered rivers drinks, zy Get the CHICKENS ee oe Ws : , Te he wan't hard to pleaag eee a+ in orn rmninetid pS a