OL -LXVI....>; 0 21. DM. 0 X. P. STOCK ISSUE. fgCBEASE OF $95fi00fi00. Her' 1 ' Grotcth of Business Reason Given ' ; .v Reid's Directors. ■ rt MCiei financial plan of the Northern rtr j Sf rutt^sy Company was mad* public late !/t Wht. I 1 provides for the increase of the pi:»l ft^k from tLSS.r>. * * present nount. * iS».«ool,«ea A special meeting of 8 " yto, K!i/•< V) of which at par. In propor o their respective holdings of the present m( * jjs to be offered to holders of record . d«* of business on December 311 The hat the plan contemplated the immediate of jrc.if'VfVi of new stock, the payments ♦or which would hp distributed over a longer -tffod than "••" l »l Jow *< tll< * Fub^,rii.or!« to the Gtrat Nnn hern's $»»"\« " *>.00< > of new stock, and ,;ju thai 7 rer i int interest would be allowed on thf imym^rns. !ia!! aJrC3d >* been printed In The 7>ibune. payments nre to be made at the office of J. P. jlorpan &■ Co .. Baal agents of the company, as follow- Five per <-cnt on or before February I. OUT; T ! » re ' cut " n ■■•■ before April 1, and 12 1 * p*r cent every three months thereafter up to s nd Including January I. IMQI The reasons for •nuking this great utoek issue are set forth in a fircular to the stockholders, which is in part as folio** : Tr.^ rai'iJ growth of population and development <>f ijus:iifs« in the preat territory served by your fjftcm i> hay« Increased from 9<£,4*7,:5! to ii.iMo.KO.flS-) ft the year ended Ji:n<- S>\ I?m>. In the sauic period :M> «rf' ■!:!!.?!> of the property have increased from BtfOSJ pass ■■" *01.- *~>'o gross, and from J. 7-; . n*>t to &i).i£&.o4M net. Freight owr* havo been increased IT.fcSl. passenger czr* c*9 sod locomotives (3. Increase m capacity of frolght ears and in hauling- power of locomo as>* h«» been much gr^itfr than the increase in their numl" r Wvertl your railways are tin »b> to pronwtly move a!! th<* business urged upon ii»m. the ituome «>f which is continually growing. trid th>- rea,uir< d Improvements and additions are Of goA | nature that trom one to threw >•■ ira will b« p^-d<>d to complete them, ■- ng to the « te of the lit»or ra«rk> t and thn necessarily slow progress of tmprerwneat work on lines already in Bervlce mov ir.g traffic, i In view of these, farts, your directors consider it * duty lo th» public and to the stockholders of the company t« further considerably increase the com jtr.y'f mil'-^Cfl and facilities. Such increase will rwjiiir* tn*> early raising of lf.rp*< amount* of fresh csr' ta '- f'" r which the fxistd:*: accuillies of th* company W'>;:!d 7iot be aval la or sufficient. Your i;r*rr<-t ojilnlon that this can be done to list advance of the public and the stockholders tr bicfwam of th«» company's rr^sent capital stock ef BS.**.*W by SSSXMIjOM of dew stoik. the legal r^.T of th l:"'.ders of th^ existing stock to sub f«ib» rttabJy for the n>-v.\ In proportion to their toldir.ps. t"-'.rtr observed. In %ipw of the. considerable time tbat will elapse Vfor» the tt>w stock will be Issuahto, the hoard tit >mi ••'I'd to the htorkho'.dprs that the rwoVj'inns to f^f adopted by th- m for Increase of rnrk sboulfl c-ontaln a provip.i.»n for payment by th# company to subscribers, nut in default, of in ■,-f. v.T> n 'i the payments stated in their rerv-ipta ■Ucb Interest shall b*> payable quarterly at the mri* r«?e pf it* pr^s^r.t ku. of capital stock out ri th» conpany*s net revenues derived from its ■ iv fiii transportation business. Tlie reservation regarding "any extra divi 6ni" is believed to refer to the probability of as extra dividend within the next two 'years, r»presfr;tinK ■•:-:'. Northern Paclflc"« equity la itie Bcr]inrton. it beinc understood that The plan for the *alo of the Northern Pa ciSr's holdlnii of Burlington slock to the Great Northern, which has been temporarily shelved. ■wi:i b*> taken op apraln well before the end of ISO S and carried to a conclusion. It may be noted that the resolutions recom sw.d^d by the directors for adoption by th« ftfx-khoMrrs recite as the reason for the increase of the capi'dl stock that the stockholder? "deem It oocf-ssary for the construction, acquisition end operation of this company's railways now •- cnurs-p of construction or acquisition, or which nay hereafter be constructed or acquired.** No fnrther advices from .-"• Paul were re toivffl yesterday at the Great Northern offices 1 It this city concerning the objections raised by the Attorney General of Minnesota to the pro- U>s*d ■ •>*.< « M.t hV» increase In ihe company's capiTal stock. President Hill says that there is absolutely no mystery about i ;.■• case at all. Th*- circular tells ihe whole siory. It is a plain badseEs propodtiOQ prompted by the need a <<' th» oumpany and the development of the couii try. It la [Kiinted <-vi that hi any case, even grant ir^f prsrything that the Attorney General may ID«W, a stock issue cannot !«• prevented *x e thai tli.. j; :i si lUver tunuol uas practically Hie :,.ji<^ .rased Mr. Brown railed up I* Housjh. president of the New York Tunnel '""m^any. aii(l announcexj that the tubes had **•*• "iWrately joined. Stwethau two weeks aeo the tunnel workers "■' !ri *°""l '!i<- Hjlk-s by forcing ■ six-inch pipe | hr «URh ii»r urth' between the shields. Early -**t'-rday nmrnina;, with some seven feel of ''•-ij betw«r-r thf>m th<* »ans» '" both tubes «uid bear each other at work. '•i tboui •_' j, in. a pi.-k from Ihe Brooklyn tJi'u a " 1 " tlir ""«l> tbe "iln »all of <..r'h Into . nh! " ta » tube, and witbio ■ f*w minutes to ace on* *-» ( ? )^ r ' a ll " > •bout twenty Inches v ide was in* Run *^ntendem Mullen crawled into it Vm, *' 4 " ' Pushed throuph by Mr. Brown, who ij',, T*"* 1 him F. a ■-.-.-. engineer of "•■■ '■iiM i , Jn *JJvlsf l# t:. followed Mr. Brown, and the ■■Otis walked i-> Brooklyn. i-Tr* " r 'UK'i announced yesterday that there 2 nr ' hhrll >" ■>„ mretinp of the tubes. He ' iawS C|r -" : " exactly. No visitors will be tiMrfc t0 enter Ihe tunnels, and the celebration ft^rS *' He Manned for Monday will be de o£« until lh - <"n:pletion of the north tuhe. •-) '••'5 rim broken for the East River tunnel • a** 1 d'J & ''•!•»••'• I^tt el 1. 2 *:- J «'r.»-.vii Ji .^rrku ** tt - i.v.: Htrtisuy*, Jerez,. Spain.-- Aavt. _^^^^ifir»» wlnd . MRS. STOKES A SPEAKER A TTAI KS UOR SEC A RS. Says Theif Hurt Spiritual Side of Men and- Women. As a "friend of the working nun and women" and a -socialist." Mrs. J. <"}. Phelps Stokes, who was Miss Rose Harriet Pastor, appeared yesterday fore the Board of Aldermen's com mittee on railroads and denounced the city's antiquated noraocara She was glad such con ditions existed because it helped the cause of socialism. lira. Stokes predicted "a change In our industrial conditions" in "less than a hun dred years,' which she hoped would come •without blood." Her protest was based largely on the Injury the cars brought to the spiritual side of the men and women. "I appear for the workingwomen and the worklngmen." said Mrs. Stokes. "And I am here as a socialist. The greatest danger to the people has not been stated, and that is their Fpirltual danger. Men and women are imbruted by these horPecars. They are embittered, and they become hateful through them and the con ditions they meet on them. It is not so much the lack of comfort and the neglect, the in- Jury to their physical being, and even to their morals, but their morals suffer through their spiritual side. As a socialist I am glad. in* a measure, of this oppression. 1 am glad If such conditions exist strongly enough to mako peo ple protest. If it calls their attention to heinous wrongs it is good. It makes strongly for social ism. It means that the change is coming in our industrial conditions. I hope it. will come with out blood and peaceably, but it will — ye?, and In leas than a hundred years.'* This was said to some of the aldermen, who smiled. "You gentlemen don't realise what they suffer on the Kast Bide. They can't protest. They don't know what to do. Some of them don't even know you exist If they wanted to pro test the/ couldn't spare the time to come here. Hut they foe! these conditions deeply, and they ar*i learning, and they will some day make the change from this Industrial system to a better one." When Mr?. Stokes concluded her speech nh» wjis warmly applauded. Several other women al=o attacked the horsecars. A reprew ' live of th<- University Settlement followed, and :u-ke<] the committee to Introduce to the board an ordinance, which read as follows: That the Board of Aldermen publicly censure the Metropolitan Street Railwaj Compan) for Its neglect of the public comfort and th* d**- Oanoe of the public ukl>* That the Board of Aldermen request the Board of Estimate and Apportionment to tak* such st<-j..s a^ are within Its power to remove the horsecars from the < it y streets. That the Board or" Aldermen request, and it hereby does request, the Legislature at the i , XT session to jriv power to the Kailroad Com missioners to enforce its orders or to '-reate a local board with adequate power to cope with the transit problem That the Legislature be requested to enact legislation for the removal of horsecars from the city of New York. \\ N Amory. who is suing President Vr^elani of the N-t him go „ ■ ..rid th« apeak< r i-ontlnued for many minutes. Mr Amory** statement was accepted, and he was told 'I" 1 ''' would lie called on lat.r for evld< nee. STAND/^R 7 ) OIL INCREASES WAGES Will Affect Employes of Subsidiary Com panies Receiving Less Than $100 a Month. •;,,,. Pip* Line*. Natural (>( > i-- Companies, and O : I Producing Companies, commonly known a<» Standard Oil Company properties, have advanced the wises of their employe? 10 pr cent In all '. s ,> s where employe! were receivinjc lesa than IK?) ji month, the increase to take effect on Jnn uary J- , GREAT BEAR SPRING WATER. "It» rarity ha* made it famous." — Advt. HENRI. CONFISEUR. 07-69 W. 44TH. . «i»e ,i . .... i; mi • . Parixtnn Te;i Room, Patisa* rt«MsUcei Franc* 18 ? -• Buabuna. Catalogue.- NEW- YORK. SATURDAY. DECEMBER 15. 10(K>. -SIXTEEN PAGES.-* T^KVriauo,, PRICE THREE ("EXTS. THE REICHSTAG IN SESSION. Dissolved by lmporlal Qe<-ree on Thursday VATICAN'S STATEMENT. THE COSCOIWAJ HOLDS. Declares It Ha* Not Yet Been De nounced hi; France, Rome, Dee.. 14. —The pnpe and the Papal Sec retary of State, Cardinal Merry del Val. have refused all requests to grant interview? for pub lication on th" Franco-Vatican situation. Hut the followine* statement is authorize.) by th>> Vatican: The Concordat, the most solemn bilateral con tiact, has not been denounced by the French government, which wishes to establish a new legal standing for the Church in France. The government did not agree with the Holy See on this subject, and repeatedly and openly showed hostility toward the head of the Church. Violence may prevail for a time, but those who are suffering from this Rtate of oppression pre serve all their rights and all their claims. The explosion of Joy among the Masonic and dema goglc societies as a result of the persecution on the part of the government shows that the war la against the Church and religion. Notwithstanding file bills passed and regula tions adopted, France at the present time has no law granting religious liberty to those who do not comply with tho law providing for the separation of Church and Stnte. The one good point in the circular issued recently by the French Minister nt. Public Worship, M. Briand, is his confession that it is Impossible to apply to cultural aasoeiatSons 'he laws of ISSI and 19«»1. which were adopted for the regulation of other kinds of associations' meetings. Therefor* what Is needed is a real law providing for real -, Instead of arbitrary ministerial rir rula rs. The loyalty and good will of the Holy See :• r similar circumstances waa shown in Brazil. Th*»re were a monarchy and a Concordat, both <>f which the republicans suppressed ;md pro claimed their separation from the Holy See, vi ler certain reserves. Later the Brazilian Re public came to an understanding with the Vni ican, and a I'.-tptl Nuncio was accredited to Rio .Inneiro. v niie a Brazilian Minister was accred it* d to the Vatican. The search •if the nunciature nt Paris and tho expulsion from France of Monslgnor Montagninl, Becretary of the nunciature, were steps taken wiih the object of making the world believe the false statements circulated later and which were said to have originated in the discovery r> " doctujpents seized at the nunciature, such as the report that some of tne French episcopacy and clergy were ready to make applications to hold religions meetings. There is no truth In tli" statement. The Holy Se. i« not opposed to the wnkinc of application* under the law, but takes exception to th. whole spirit of the circu lar issued by Minister of Public Worship M. Briand. STATE TO (rET CHURCHES. Continuance of Public Wonhip in France Under Ldttcs of 1881. Paris. Dec 14. The Cabinet met to-day, with President Falliere.s In the chair. In order to de cide on the new legislation to be presented to PHrllament. but tho tPit of the measures de cided on will not be ready until to-morrow. The steps to be taken are of a very sweeping char acter. Tt is proposed to amend the law of V.MVt, pro viding for the separation of Church and State. by which a years grace was allowed before the permanent alienation of the Church property, and to suppress the privilege of forming new diocesan associations during that period, and all church property, including the seminaries, will immediately be handed over to ihe State, to the departments and to the communes, under conditions insuring that the churches them selves will be retained for religious uses The 'continuance of public worship will be provided for under a combination of the laws of ISM and 1!« M. With regard to the pensions and allowances of ! the' clergy distinctions will be made by which ! those who are entitled to the former will los« i their rights if they are deprived of thfiir French j citizenship, while those who are entitled to the I latter will lose their allowances if they do not j conform with the law. The conditions under ■ which the clergy will forfeit their French cit- j izenship will lie drawn up in a special measure^! to be prepared later. i The first day of the regime of the separation | of Church and State having passed without j grave disorders, public Interest in the details of the continuation of the struggle is already vis ibly flagging, ft la now apparent that the re- j distance of the clergy will be purely passive, and that there is no prospect of religious passions t being aroused unless the churches are closed, j and the government therefore is resting on its oars and will continue to do so until Parliament J authorises the drastic measures which the Cabi- j net is preparing. In the mean time in this city. Continued on fourth page. OVER NIGHT TO CHICAGO. PENNSYLVANIA. SPECIAL. i m hours via Pennsylvania Railroad, rock iJn.M ilViatl^a* roadbed, ' leaves New York 3:;.» i" m •fflpriv-d ••!■' '-•> S: '"' A; M. Other fast trains to Chicago, Cleveland, Cluciunatl and St. Louis.— Advt. ° ' . s — -■ COUNT YON BAM.ESTREM. President of the Reichstag. ROAD £S GULFS WAGOX. WAI.DOHF GI'ESTS SCARED P. R. R. Tunnel Causes- Section of 83d Street to Sink. A big garbage wagon, laden with the refuse Of the Waldorf Astoria, went crashing through the roadway of 3."? d street opposite that hotel about 10 o'clock last, night, and caused much excitement among th© guests. The wagon fell into a hollow section of the, roadway caused by the digging of the Pennsylvania tunnel, and wild rumors flew around that the entire hotel was In danger. This intensified the excitement and brought hundreds to the scene, until the Tender loin reserves had to be summoned. The wagon was being driven through 3.* M street, and had reached a point about two hun dred feet west of Fifth avenue when a piece of asphalt about fifteen feet square gave way under the weight of the heavy vehicle. The driver, Charles Mahoney, an employe of Donovan Brothers, contractors, Jumped from his seat. tut the traces and lashed up the horses. He said afterward that he thought the "md of creation wuz cumin*." The wagOO meanwhile "h;td sunk about two feet into the' ground. Then the rumor spread that the whole street was sinking nnd that the Waldorf was threat ened. The corridors of the big hotel were jammed with guests eager to know the truth about the situation and very much alarmed. Out In 33d street and along the avenue there ■•. . 1 a blockade of carriages, cabs and auto mobiles, and traffic was stopped for nearly an hour. officials of the railroad company first denied, then admitted, that the accident was CBUBBd by the tunnel di^ginc. One of >he engineers of the company, after he had carefully inspected the roadbed, admitted that the company had been alarmed for some days, and actually feared that n serious accident mic;br have oc rurred. Explaining, he said: There is absolutely no danger to the build- Ings, Init s serious accident might have oc curred on tbe roadway which we could not well avert. All tbe buildings In the neighborhood have been, shor.-d up, and, as a mutter of fact, there is a huge layer of rock below this hollow Bertion, separating it and the tunnel. Several ri;iys ago when the men were ;t t work they dug Into an old stream, wide and deep In some sec. ti'in-i. This stream runs into what is known on the old map of the city as Collet Pond. Naturally we were al:\med, for it ia a long, hollow excavation, which causes the streets it traverses to ! " - unsafe. There is no danger now. I believe. The street will he filled in to nlghi. The Pennsylvania tunnel at this point is said to be sixty-five feet below the surface. The police would not take any chances of further accidents, and closed 33d street from Fifth avenue to Astor Court. j • RUNAWAY INJURES SHOPPERS. Dashes Into Crowd Outside Store and Bowls Over Men, Women and Babies. A runawas horse dashed in among a crowd of holiday shoppers at (iOth street and Third ave nue yesterday, knocked down two women and the perambulators they were wheeling and so severely injured William Plant, of No. \M\ Kast 4.'< d street, that he was taken to the Presbyterian Hospital. The horse was being ridden from a black smith's shop i.y John Shick. sixteen years old. of No. 1117 Third avenue. The boy lost control of the animal, and it galloped madly down the avenue. Shick clinging to its neck At 60th street it run on th>> sidewalk and bowled over Plant and the tjro women Mrs. F.llen Frylter. and Mrs. Mary Roller botk of No. 41. r > East »>4th street, were the women. They were more frightened than hurt, and their baliies. apparently, quite uninjured. Plant was injured about the head and body. MAINE HUNTING SEASON COST 10 LIVES. Augusta.* Me.. Dec. 11. During the open season on big game, which closed to-night, ten persons lost their lives in Maine by 'he use of firearms. the overturning of a canoe or exposure. in three cases the victim was mistaken for a deer or b"ar. tiv«* persons were killed by the acci dental discharge of puns, on* was capslaed from s canoe and one died from exposure in addi tion there were ,-i number of accidents wbich did not result fatallj ACCIDENTALLY. SHOT BY BROTHER. New Brunswick, S. J.. Dec 14 (Special). - - '" Unexcelled servi.-e via. lvmi. & Atlantic Const Uno R. it. Florida In« formation Bureau. Broadway, cor. fata St.— Advt OFFICERS TO BE TRIED. Court Martial for Those in Charge of Negro Troops at Brownsville. [From The Tribune Bureau. 1 Washington. Dec. 14.— Major C. W. Penrose and Captain K. A. Macklin. IT.th Infantry, will be tried by general court martial, by order of the President. This means the bringing before an army court of the officers who were in charge of the troops of the Ota Infantry at Browns ville. Tex., at the time of the disturbances in that town leading to the discharge without honor of the members of the battalion of the regiment Stationed at Fort Brown. The trial will in each case be on the charge el neglect of duty, under the Sixty-second Article of War. The detail of a court for this purpose is the re sult of the recommendation of th*> General Staff. The President ordered an investigation of the conduct of the officers of the 2."> th Infantry who were in command of the battalion of Negro soldiers at Fort Brown. He desires to be in possession of all the information relating to the Incident. The instructions to those who ob tained testimony were that they should ascer tain to what extent the commission* officers were responsible for the occurrences and in what degree they failed to he properly posted on all that went on la the weeks just preced ing the outbreak of the Negro troops in the town. It has been charged that the officers failed to make themselves familiar with the local sentiment and the action of the men. and that the commanding officer refused to believe the complaints made by citizens. The fact that soldiers could get their weapons and go into the town and return without the knowledge of any of th*> officers has been commented on. and the President feels that the previous investigations did not fully cover the situation. The specifications will include among ether things the charge that the two officers named failed to exercise due diligence In preventing the occurrence when the condition of affairs at Brownsville made it necessary that all proper precautions should be. taken to prevent a clash between the troops and the citizens, and also that they did not examine the rifiesvfif the men until daylight, although they learned of the true state of affairs by 1 or 2 o'clock in the morning. The details as to the membership of the court and the place of trial have been left to the dis cretion of the commander of the Department of Texas. SIX MORE MESSAGES. To Be Sent htf the President to Con gress \t\rt ll'eek. [From Th<« Tribune BBUNSM.] ■Washington. Dec. 1 1 —If .Congress pays proper heed to the messages it receives from the White House next week the members will have little time to get Into mischief. No less than half a dozen important documents are promised (mm the I*resident before Wednesday evening and one or two more are said to be '"in the air." On Monday the President will transmit mes sages bearing on Panaxna and the personnel of the navy; on Tuesday Congress will read a mes sage accompanying the report of Mr. Metcalf on the Japanese incident, a message on i\iba and a message relating to public lands, on Wednesday the President will send In a message on tha Brownsville incident. This document. It is understood, will contain a « omplete report on the riot and subsequent discharge of the Negro troops, and will give more fully than has yet appeared the President's attitude toward the men dismissed from the army. It was said on the floor 'if the House to-day by a Republican member who had seen tho President that ht> was preparing a special mes sage on the slil[.i subsidy question. If the Presi dent does prepare such a paper and senda It to Congress next week, it will make seven for the period, and will break all records for the num ber of special documents transmitted from the White House to the Capito; in a similar spa.-c of time. COAL SHORTAGE WORSE. Crovcrnom Maji Be Asked to Have Militia More Train*. Minneapolis. Dec 14.- With the cold wave sig nal flying, tbe coal shortage in the Northwest becomes not only a cause of severe suffering, but an absolute, menace to human Ufft CBenburn. S. I>.. Is seriously considering an appeal to the governors of North Dakota and Minnesota to employ the state mi'.ltia in forcing the moving of coal trahn. BieleUt, Minn., faces darkness and suffering through deprivation of coal, and apprehensive- reports hay* come from, numerous other places. * The <;ienburn. N D., situation is summed tip in a statement from the Oi».> n ;>ur!i Commercial Club, as follows: The dealers advise that the situation i=i en tirely up to the railroads. as shippers are unable to obtain cars to load with coal. To-day we will •wire Governor Searles, requesting him to tak<* up the matter with Governor Johnson of Minne sota, and. if necessary, call out the. militia of the two states to run coal trains The situation all through this section is des perate, and with the liability of blizzards at any time many may freeze to death if fuel is not available soon. Farmers are already coming to town with reports of burning sheds and other outhouses for fuel. We have notified the farm ers that If the worst comes they can bring their families and bedding and camp In our four-room brick schoolhous*. We have sufficient coal to heat the building for three months at least, and it will go further in this way than it would if distributed among those who are out of coal, as it would not make a bushel each. We will also wire our Senators at Washington to-day asking their Interest with the federal government. We cannot put our words strong enough to convey to you the Importance of getting railroads to haul special trains of coal into the section that is suffering. Lignite Is unavailable, as the same handicap Is met there. We telephoned the Burlington mines and asked if they could not let us have five cars if we pent men there to load them. They replied they were sixty cars or more back: In orders and could not obtain cars to load. Farmers cannot go to the mines and haul more than 1.000 to 1 "_•<"><» r.'our.iis. as the roads are almost Impas sable. ASKS ABOUT CAS SHORTAGE. Commerce Commission Urges Railroads to Relieve Suffering. Washington. Dsc. M —In view of th* complaints of car shortage, resulting, it Is said. In failure to transport the naiii— rt»s of life and coal for bouse hold uaa ill* 1 Interstate Commerce Commission ha* tent th*» following telegram to the presidents of a number of Western and Northwestern railroads: From many parts of in* country, and particu larly from your section, the Interstate Commerce Commission is receiving numerous and importunate complaints of ear shortage aiM failure to transport th* innimnrin of life. In various places In the Northwest it la represented that people are actu ally frerztnjj because sufficient coal for household use cannot be procured. owing to extraordinary delaya In moving that article. Til* eomnilsston therefore urges you lo mike ev*ry v>O3*lbln effort to meet at once the needa and relt<-\-». the suffering of those dependent upon the facilities of your road. The telegram was Kent jo the presidents of lbs Great Northern. Northern Pacific, ilinneapolls. St. Paul & Sault Bte. Marie. Chicago & Northwestern. Chicago, Milwaukee & St. Paul and Chicago. Bur lington & Qulncy^ FLORIDA AND CAROLINA RESORTS. Seaboard Au- Ulne shortest, qilicltest. pleusantest i\if BooklatA etc. No. US; Broadway, New York. -Avivt REJECT BA.NKERS' PLAN. SO CBEDIT CIUur.SCT. Congress; Hbtcever, M>;i Enact Some Remedial Measure. . [From Th* Tr-.hun* 1 Bureau. 1 Washington. Dec. 14 — The credit currency' plan formulated by the American Bankers' As sociation in its convention in Washington last month will not lie adopted by Congress at (Mi session, nor will It find an easy road to adop tion for some years la come. When the plan of lbs bankers was first made public an unofficial statement appeared which credited Secretary Shaw with' criticising the plan on the ground that the first proposition provided for the laau» •■f any bunk meeting the required conditions of a credit currency equal to 4«» per cent of it=» bond secured circulation, subject to a tax of 2' 3 per cent ■ year on the averag** amount outstand ing. Such a circulation, according to the news paper reports of the Secretary 1 s views, woult not constitute an emergency circulation, as -wan asserted for It. because the tax was not suf9 ciently high to insure Its retirement as soon as the emergency had passed. On the contrary, ■ bank Issue subject to a tax of only -'2 per cent might easily remain in circulation throughout a prolonged period si prosperity, when Interest was high, and might tnu-t be absorbed into th« permanent circulation, and so serve merely to> inflate the volume of currency rather than add that elasticity the need of 'which is felt at not infrequent but usually for brief periods. Mr. Shaw is also credited with saying, about this time, that "no new and unguaranteed form of money should be injected into our system." But later the Secretary made an official state ment in which he said: "The Secretary will b« pleased beyond measure if Congress will adopt every detail of th« plan recommended by th*» recent committee of bankers and business men." What led Mr. Shaw apparently so radically to change his views Is nor known, but tnat the un official statements credited to him are *ln far greater accord with the views of Congress than those expressed In the official statement quoted Is unquestionably true. ' '■•* '■ '\ Congress will not enact legislation providing for an addition to the present system of any credit circulation: neither will it make any pro vision for an emergency currency which might easily be converted into a practically permanent addition to the circulation, and thus utterly fall of the purpose for which it was provided. These statements are made with th" utmost confidence In their accuracy. it is possible that some plan will be formu lated and enacted into law at this session by which such eriit-rg»>ncles as have recently or curred, and which have led th- Secretary of the Treasury to believe It necessary to advance In terest, retire bonds, etc.. to relieve financial stringency, may be obviated, but If this 13 ac complished it will not be along the lines of the plan of the Bankers' Association, and It will not be a resort to credit currency. James B. Korgan, president of the First Na tional Ba.nk of Chicago, and A. B. Hepburn, president of the Chase National Bank of New York, have "been In thin city recently working for the adoption of the bankers* scheme, but have not met with much encouragement. In a genera] and non-committal way the Speaker has talked of the lack of time at a short session and the great amount of work attendant on getting the big supply biJls through. Senator Aldrich. chairman of the Finance Committee, has asked some pertln*nt but abstruse questions of Messrs. Hepburn and* Forgan, and they have returned to their homes little encouraged over the situa tion. Nevertheless, the men who ate things tn Con gress are really cudgelling their brain*, and- it Is possible that some measure calculated, to prove remedial in its operation will be devised. If this can be effected, the details carefully worked out and the leaders of the minority as well as the majority satisfied that It Is a wi?e measure, bo that It can be passed quietly and without much debate, it will be don«. If It la not possible to do ail this and If th« scheme devised excites opposition and seems likely t» provoke debate. It win bo abandoned until the next session of Congress. The Bankers' Association has done ■ the entire fleet. The American Fisheries Company has ordered complete equipments for ■"« of its steamers — the Alaska, the Arizona, the J. 1.. Lawrence, tho Joseph WhariL.ii and the Walter Adams. Tho private yacht Xllndora. belonging to General Manager Delaney of the American Flsherfea Company, is also to be equipped with the wire less telegraph apparatus. These vessels, which form at>out one- seventh el the fishing company's fleet, had] from Sas Harbor. I.ong Island. If the use of the wireless tH-graph proves helpful in the lt«»7 season, which ■.vii! open la the spring, all the company's other vessels will be equipped likewise. NEW YORK HERALD'S CHRISTMAS NUM BER. SUNDAY. DECEMBER 18. » harming Full Pasa .Pictures in holes*! and eight paicf Comic Secth»n »^ t*«lors. Original Christmas Stories, crisp Holiday tluiuor. Older «CSMf HOW.— Advt.