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The Minneapolis journal. (Minneapolis, Minn.) 1888-1939, May 10, 1901, Image 2

Image and text provided by Minnesota Historical Society; Saint Paul, MN

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045366/1901-05-10/ed-1/seq-2/

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aT"
•asy with the shorts meant more than a
temporary truce between the conflictim
interests. Many securities have sold a
their high record figures recently, on the
belief that they would enjoy much benefl
from one or the other of the va« consoli
dation schemes for which different rail
road managers were working, and some
hesitation to buy was caused by tear tba
the hostilities developed during the North
era Pacific contest might delay indefinitely
or prevent altogether the p!aus for ex
tensive combinations of railroad capita
under closely centraliied management.
At about 10:20 the cheering news wa
given out that the stock exchange had
officially announced the successful pass
ing of all clearing sheets and the honoring
of all checks given by exchange members
yesterday. This announcement effectually
disposed of the rumors curren; yesterda;
that certain houses would be unable to
meet their obligations on yesterday s ton
tracts.
The trading became so feverish around
10:30 that it was very hard to follow the
price changes, but there was a notable
absence of the rush to sell which was the
distinguishing characteristic yesterday
morning. Amalgamated Copper held firm
around 110, Southern Pacific at 47, Atcbl
son at 70, the preferred at 93. Hanhattan
at 109^, Brooklyn Rapid Transit at 75
and Louisville around 96%. Steel on
large .transactions kept close to 42. Rock
Island fell back from the opening price
of 150 to 147. Continental Tobacco was
strong, selling at 4S^, Pennsylvania sold
at 145 and Texas & Pacific at 41. South
ern railway recovered at 29 and Canadian
Pacific touched par. There was a salt o
100 shares of Northern Pacific at 151. A
10:45 the market showed a quieter tone
with prices holding steady.
There was heavy selling of the stee
stocks, said to be for Chicago account
but it seemed to be well taken and the
price fluctuated from 41 to 42 for the com
mon and from 91 to 92 for the preferred
About 11 o'clock the general list became
stronger, Union Pacific rising from 92Vi to
94, and Missouri Pacific sold up to 101.
The transactions continued quiet, bu
with a firm undertone up to 11:30, anc
then the further reassuring news -was
given out that J. P. Morgan & Co. wouli
renew at 6 per cent all loans made by
them yesterday. A. A. Housman & Co
announced that they would renew all o
yesterday's loans and would lend $1,500,
--000 additional at 6 per cent.
At 11:45 the entire list was strong
Northern Pacific sold on the exchange a
160, but at the same time Kuhn, Loeb &
Co. were settling at 150.
After 12 o'clock a stronger tone devel
oped on the stock exchange and Unioi
Pacific went up to 98%, Amalgamated
Copper to 111, American Tobacco to 118
Atchison preferred to 94 >4, Wabash pre
ferred to 36, Rock Island to 160, and Bal
tlmore & Ohio to 99. To judge by the tape
the frantic desire to sell seemed ended
and the belief gained ground that the
worst of the trouble was a thing of the
past.
There was one failure—that of Jack
son Brothers. They were members o
the consolidated exchange. The primary
cause was said to be the failure of their
customers in the city and out of town to
meet calls for extra margins. The liabili
ties are under $100,000.
About 1:15 p. m. the strength through
out the general list became pronounced
and prices advanced all around rapidly.
Erie sold at 36, Amalgamated Copper at
115}* and Union Pacific at 105. the latter
stock showing the rise of 15 points as
compared with the last 6ale yesterday.
Atohison common recovered to 72**, Man
hattan shared in the rally and reached
115, Southern Pacific touched 48^, and
American Tobacco sold at 121.
There was some profit-taking by traders
during the last hour which carried back
Union Pacific and Missouri Pacific as much
as 3^j. Northern Pacific dropped back to
150 on cash sales. Burlington developed
aggressive strength, advancing 12*4 over
last night, and the market rallied again,
■ome stocks, including Union Pacific, re
covering to the highest: The closing was
active and slightly feverish, but gener
ally firmer and near the top.
Bank Presidents Conifer.
There was a conference at the Gallatln
National bank to-day between President
F. D. Tappen of that institution and J.
Edward Simmons of the Fourth National.
At the close of the conference Mr. Sim
mons said the money market would be
protected. The conference was equivalent
to a meeting of the clearing-house com
mittee, for Messrs. Nash, of the Corn
Exchange bank, and Williams of the
Chemical National bank, are both la Eu
rope.
Yesterday's tremendous business on the
stock exchange was reflected In to-days
exchange of bank checks, which aggre
gated $589,537,410, and which broke the
record of $562,817,206 made on Tuesday
last. The balances were ■ $23,873,116. the
second largest on record, and compared
with the record of $24,170,338 on March 5.
After 1:30 the market became very
buoyant and under the leadership of a
sensational rise in Union Pacific to 112, 22
points above las-t night's close and 36
points above yesterday's low point, the
entire list -made rapid progress toward
higher prioes. Continental Tobacco sold
at 54, a rise of five points over last night,
Texas Pacific went to 45%, and St. Paul to
15794. Union Pacific fell back to 108.
Western Union was firm around 93.
WALL STREET SCENES
IHuiger Eliminated by Settlement
With the Shorts.
New York, May 10. —Calm that succeeds
the storm pervaded Wall street to-day.
The settlement with Northern Pacific
shorts largely eliminated the element of
danger that by mysterious process created
the alarm yesterday, and the statement
that the stock clearances of yesterday
Lad been made without the dishonoring
of a single check seemed to lay the cor
nerstone of a new fabric of confidence.
The market opened in a rather feverish
and unsettled state and thtre was a rather
sharp decline in urominent stocks, but
lattfr the marke; steadied down and prices
recovered their earlier losses and began
to advance.
Keen interest was manifested in the
final result of the contest for supremacy
in Northern Pacific. Tbe leading contest
ants remain silent and conservative opin
ion prefers to wait until there has been a
count. Kuhn, Loeb & Co. declined to dis
cuss the situation, and J. P. Morgan &
Co. showed a similar disinclination to take
A "KNOCKER"
Found on Many Tables.
People will "slug" themselves with
coffee and then hunt around for medicine
to cure them of the trouble coffee pro
duces, but they keep on drinking coffee
and making new diseases right along.
Tbat is, some people do. There are
thoughtful people, however, and their
number is growing greatly every mon'-h,
who prefer good, sturdy health to sick
ness, and they leave off coffee because it
is a drug that produces disease.
Many people have to learn that this is
true by hard knocks, and they get tbe
knocks all right if they stick to coffee.
Mrs. Ida M. Nowyce, of Anderson, 3. C,
says, "For two years or more before
leaving off coffee and beginning the use
of Postum Food Coffee, my health be
came very much impaired, as I discov
ered afterward, from coffee drinking.
I suffered . from shortness of breath,
pains about the heart, and the slightest
exercise completely exhausted mo. My
digestion was bad and gas would form in
the stomach rendering me wretched, and
my life a burden. Medicine did not help
the trouble. I was on the eve of giving
up in despair when my attentioa was at
tracted to the statement that coffee caused
some of the symptoms that I had. J de
termined to abandon it and try Postum
Food Coffee. •
I had the Postum well inaue and the
result during the past twelve months has
been something wonderful. All of the
old troubles left. I have been in excel
lent health, and my friends all notice it
and speak of it. I never lose an oppor
tunity of telling them that the change in
my health was caused by leaving off a
drug called coffee and taking on a liquid
food drink like Postum.
No argument from any source could
convince me to the contrary of what I
have found out. I have sem much the
same results in my sister's family and
among other acquaintances."
the public into its confidence. , There Is a I
growth of the belief that the latter house I
has succeeded. In." retaining the control
and somewhat of a'revulsion in the senti
mental feeling that swept the -financial
district yesterday. Both houses were en
gaged in their settlements with the shorts
and all through the morning, representa
tives of the latter streamed in to arrange
the reckoning. It.was work that lacked
in cheer. Rain fell in drenching sheets,
and Broad and Wall streets were toadstool
gardens of umbrellas. The ' strongest im
pression that au observer got in the
street was of exhausted and worn-out
men. The machinery of finance is human
after all, and frictions tells upon it. There
was first a period of tremendous activity
that tested the strength of the strongest,
and then two days of effort that was su
preme and which left its victims physically
drawn and mentally dull. There is no
longer room for doubt that the storm
has been weathered. The banks and larger
financial interests are at work in rebuild
ing confidence arid stand ready to further
protect the market.
The losses yesterday were stupendous.
One commercial paper places .the losses
in the bucketshops throughout the coun
try yesterday at $30,000,000, and ,If the
figure is anything like correct it conveys
a profund impression of the shrinkage in
the legitimate prices. Naturally the
greater part of these were losses on pa
per, but they were all sufficiently tangible
to be counted by owners and could at one
time have been realized upon in cash.
The other side of the story is short,
but it is full of tales of Yankee enchant
ment. The men who had little dribs and
drabs of Northern Pacific and claimed for
tunes on them are generally the heroes
of these tales. Then there were the few
men who were wise enough to profit by
the slump of yesterday and got the op
portunity to do so. Everywhere in the
street to-day they are holding postmor
tems. . gome of these inquiries show that
there «are men whom a quick recovery of
the market alone will save from ultimate
bankruptcy.
The holiday to-morrow and the fact that
Sunday follows, will, it is felt, have a
tendency to further steady the market.
The. managers, of the consolidated ex
change have also decided to suspend op
erations to-morrow, so there will be a
great deal of housecleaning over Sunday.
Some small blocks of stocks were sold un
der the hammer on the consolidated ex
change to-day to meet the obligations of
the concerns which went under yesterday.
niRXIXGTON DEAL
Peculiar Point Which Seems to Have
Been Misunderstood.
New York, May Last night an in
dividual who has been party to the con
ference relating to the strained conditions
in .Wall street made statements which
give a different construction than was
generally accepted down town. * He said:
To-morrow morning Kuhn, Loeb & Co. will
publish a notice saying that they will let out
their Northern Pacific shorts at 150. J. P.
Morgan & Co. will notify shorts that they
will be released of short obligations on the
basis of 150. The Burlington deal will be
known to-morrow as an accomplished fact.
It has already been accomplished. The Mor
gan-Hill interests control the Northern Pa
cifio stock and the board of directors has
absolute power to close the Northern Pacific-
Burlington merger without the - consent of
; two-thirds of Northern Pacific stock.
The old law of the Northern Pacific pre
scribed that two-thirds of the stock should
assent to such a transaction as the present
deal. This provision, still printed in the
manual accepted as authentic, has misled the
opponents of Morgan-Hill plans, because, in
the reorganization the two-thirds provision
was abolished and the power was vested sole
ly in the board of directors. The board had
stipulated that when two-thirds of the Bur
lington stock had been deposited in a desig
nated trust company, the Northern Pacific-
Burlington deal should be thus automatically
closed. The stock has been deposited and the
transaction is consummated.
Meanwhile the Kuhn-Loeb interests, be
lieving two-thirds stock consent in Northern
Pacific • necessary to consummation, have
btriven to absorb enough Northern Pacific to
prevent two-thirds consent, with result* seen
in Wall street. This afternoon they discov
ered that two-thirds consent was not neces
sary to the Morgan-Hill deal; that they had
acted oa .wrong information on that point. S
Moreover, they learned late ; to-day that;
while the Northern Pacific scrip they hold
and their paper contracts made the aggre
gate they had sought, the paper contracts
•were in part empty, for the shorts could not
get-the stock they had agreed to dellvei.
Conviction. was compelled that Morgan-Hill
had the real goods—the scrip—and, therefore,
that the accumulation of Northern Pacific in
the hands of Kuhn, Loeb & Co. was strategi
cally valueless.
HILL A FARMER
For This Reason, He Says. He la Ig
norant of Speculation,
Special to The Journal.
Washing-ton, May 11.—J, J. Hill was
asked last night In New York if the an
nouncement by Kuhn, Loeb & - Co. that
they would sell Northern Pacific stock to
shorts at 150 meant unconditional sur
render by Kuhn, Loeb & Co. Mr. Hill
replied:
- '.'I am a farmer from the west. I am
not concerned about what men are doing
In Wall street. I have not bought or sold
a single share of Northern Pacific stock
while I have been here. . The announce
ment of Kuhn, Loeb & Co. you refer to,
I have not seen. No copy has been sent
to me. Why should Kuhn, Loeb & Co.
send a copy of their announcement to me?
They might just as well send a copy to
Bishop Potter. Ever since I have been
here I have been trying to impress upon
the minds of newspaper men that I ■ am
simply a fanner form the west and am not
mixed up in Wall street."
Of the situation Mr. Hill said:
"When the air clears the public' will
probably appreciate the situation better.
Some people may be happy, some people
maybe sorry. As In a school, this may
be a recess." . .
DISORGANIZED IN LOXDO.V
Wild Fluctuations Followed by a
More Reassured Feeling*
London, May. 10.—Yesterday's panic in
Wall street thoroughly disorganized the
American section here. ■' The stock market
opened this morning with wild fluctua
tions. St. Paul opened at 150 and ad
vanced sharply to 165, nearly $22 over the
New York parity. Louisville & Nash
villes were 6& better, Atchison 6 higher
and Union Pacific 2%. Northern Pacific
was Quoted at 137. After the first flurry
prices receded slightly, the tone becom
ing quiet. ,
A more reassured feeling was evident,
as the day wore on and there were no
scenes of excitement. Speyer Bros, and
the Morgans report considerable New
York buying with early London realizing,
which afterwards were mingled with Lon
don and continental buying.
J. Plerpont Morgan. Jr., said to a re
porter of the Associated Press:
The situation looks a little better. I would
not be surprised if ' the buying continued,
though no one can tell what to-morrow will
bring these days
5:30 p. —Americans on - the street
were very unsettled. They fluctuated and
recovered somewhat. Northern ' Pacific
was 154 bid. There was considerable
despondency, and fears of difficulties...
'■';'■ * DEADLOCKED^ '
Not Till > Morgan's Homecoming Will
; the' Situation Change. -
' York. May 10.—A Wall street news
agency made this statement this - after
noon:
It is authoritatively stated that : the princi
pal matters in dispute regarding the affairs
and policy." of the Northern Pacific Railway
company are 'at a deadlock, . from which a
change is hardly to be expected before the
arrival here, of J. P. Morgan. The agreement
of last night appears to have been prompted
wholly to relieve the actual short interest ■un
wittingly and : unwillingly! cornered. From
an authoritative source, \ claims of control
have been heard in favor of both sides. , Par
ties /who frequently \ speak on matters con
cerning J. P. Morgan & Co. ' insist with vehe
mence that the control of the ; road rest* ab
solutely. with . them. :
Rnaaell Sage'i Conclnitont.
New York, May 10.—Russell Sage, when
THE MINNEAPOLIS JOURNAL.
4/x^ Summer
jvja Wear
&%, \ there's nothing
y&j&j Oxford.
Florsheim
Oxfords
it-
Style *"°ei- / 2?S>
Sold by
Stanley
412 Nicollet cAvenue
seen at his home and asked his opinion
of the stock market, said:
1 have been associated intimately with
transactions in Wall street for half a cen
tury, and I can say truly that the last two
days have been the most remarkable I havo
ever seen. Fictitious and inflated values have
prevailed, and the smash that was inevitable
has come. I knew it would come and pre
dicted it. It had its origin in an attempt to
divert traffic from its natural source, toward
the west in Omaha, to the northern route—an
unnatural route. Yesterday (Wednesday)
was absolutely 'unprecedented in the history
of the financial world. However, I do not
anticipate serious results. The prosperity
of the country is too great to permit of this
crash affecting us seriously.
Two More Suspensions.
New York, May 10.— F. P. Hilton & Co.,
consolidated exchange firm, suspended
business to-day. Mr. Hilton said the house
had not failed, but had suspended busi
ness to find out where it stood. He said
the members of the firm expeoted to re
sume on Monday.
Boston, May 10.—Morris A. Peters,
stock broker, has assigned.
A CONSPIRACY ALLEGED
ELECTRIC COMPANIES QUARREL
International Against Minneapolis
General Electric Companies-
Sensational Complaint.
An action was began in the district
court to-day by L. S. Tainter and Isaac
Atwater, as stockholder* of the Interna
tional Electrical company, against the
latter, Perley P. Crafts, Ihe Minnesota
Loan & Trust company, the Minneapolis
General Electric company and the General
Electric company, in which some sensa
tional charges are made.
The complaint, which is very long, asks
for the removal of Crafts as receiver for
the International Electrical company and
for the appointment of a man not under
the control of the defendants, aul the
court is asked to enjoin the trust company
from proceeding further in its action
against the electrical company, also that
the Minneapolis company, and the Gen
eral Electric company be debarred from
any right to share in the proceeds ob- j
talned by the foreclosure of mortgages
upon any bonds owned and controlled by
them, until full payment is made of the
bonds owned by the plaintiffs.
It is alleged that some time in 1900 the
Minneapolis, and the general conspired
to ruin the business of the International
for the purpose of obtaining possession
of its business and property.
The ulterior object, it is alleged, was
to destroy competition with the Minne
apolis company, and thereby increase the
price of electricity, and ultimately to ob
tain ownership of all property owned by
the International at & nominal price.
It is (alleged that the Minneapolis and
the General, by their officers or agents,
purchased or caused to be purchased with
their own money, all of the stock of the
International, after which they obtained
the resignation of the former officers
putting new officers in who were the
agents of, and acting entirely in the in
terests of the defendants.
The complaint alleges' that in Novem
ber last, the defendants procured Crafts
to come to Minneapolis when he was
placed in charge of the affairs of the In
ternational, and acted entirely in the in
terests and according to the directions of
the defendants.
DES MOINES FAILED
lowa Labor Federation Votes Down
Its Resolution.
Special to The Journal.
Sioux City, lowa, May 10. —The lowa
State Federation of Labor, at its last
day's session, adopted a resolution of sym
pathy for the striking shop men of the
Burlington & Cedar Rapids road and
pledged the moral support of the state
organization. Dcs Moines had planned
to capture the place for the annual medk
ings of the federation and the officers by a
resolution, which was promptly voted
down, empowering the president, who is
a Dcs Moines man—Oblenness —to name
the place of meeting .and date.
Child labor was condemned. The legis
lature was asked to pass a bill prohibit
ing the employment of children until 14
years in factories, mines, workshops and
department stores. The election is being
held this afternoon.
WIS. DEGREE OF HONOR
I.oulHe M. Hart of Ashland Elected
to First Place.
Special to The Journal.
La Crosse, Wis., May 10.—The grand
lodge, Degree of Honor, the Ladles Auxil
iary to the A. 0. U. W., is now fn ses
sion here and has elected the following
officers: Grand chief of honor, Louise M.
Hart, Ashland; grand lady of honor, Mrs.
M. Holston, Ashland; grand recorder,
Mrs. Mary Bennett, West Superior; grand
receiver, Mrs. J. J. Burs, Sauk City;
grand usher, Mrs. Ella Page, Baraboo;
Inside watch, Mrs. P. Dunn, Milwaukee;
outside watch, Mrs. John Rock, Kenosha.
The convention of the Degree of Honor,
also the A. O. U. W., closes this after
noon.
CROP CONDITIONS NEVER BETTER.
Specials to The Journal.
Redwood Falls, Minn., May 10.—The rains
of Sunday, Monday and Tuesday have made
this section of the state into a farm and
home wonderland. Wheat, oats, barley, veg
etables, and grass have simply shot through
the ground. In many fields wheat is two
inches high. Grass is fit for grazing, while
lawns are superbly beautiful.
Mayvllle, N. D., May 10.—Seeding of wheat
Is about done. Crop conditions never were
more favorable. The warm weather of last
week gave the grain a good start, and the
cooler weather which has prevailed since then
has insured perfect stooling.
Sauk Rapids, Minn., May 10—The prospects
for a bountiful crop in Benton county were
never brighter. The conditions now prevail
ing have sot been seen for twenty years, and
the fanners are jubilant.
An Arkansas planter is making arrange
ments to start a kangaroo ranch.
GEORGE GFROERER, $&^^*stW •^^Nicollet and Third Street.
h\\ SUPERB SIO SUITS
\^f WW nr°? AY its a talk about 81° Suits. We have suits a3 *750' Sl2-50 and up to $25.00, but that \/$P Pi V' f
r W/f I is another matter. If you are interested in clothing at all you can spend two minutes of M llf
I |j§r • A your time profitably in noting what we say. We have never really done justice to this sub--: I At \ f
I .. I W ject before. We do it scant justice now when we Bay that we can offer- you no better values for ■S^ I! 'V j
Vm Irrtftr your money at any price than you will find among our $10 suits. George (if roerer, who bought -^TiMM' jR!
rlMiliiiwfl them, says they are the sama as are being sold at other stores at 32.00 and $4.00 more. They [.///! pi
Wiutrai ISBI.T / ;;: come from the same New York manufacturers, and are identical in every —cloth, linings, - Iff// \ MY
X 1 I'll'! I • trimmings, workmanship and finish as the others—but these- *•* -dffjßk jS& Jfe Ml ' ml I
\ \ |j||| / line suits haven't the New York maker's advertised name in 1 M* llJ^n 'llil f / ' if/ I
V \ ij'j I them—they have something better—they have the name "Hem- I / W
l\ 11 I / .. rice's"—a local concern, whose guarantee is better to you than ft'M W3 Ig lea? %$ I/// ) I f J
r I |I I that of a far-away New York maker. lleinrich's guarantee Hl] SQ^BSnm ''7 I ('•/ f
Iv I 111 I that a garment is all wool means all wool —nc\ cotton at all. Bg 1^ BH °~™~*^l^' r.j '• bY
\\ I (]■/ - These $10.00 lines of suits are all wool cheviots, \v.rstees,. cas- ■ &Js frffiareffiiSEfla /■/ i /,H
r, JiJiJ / simeres and serges, in plain' colors and fant'y mixtures. You jg| '^7 ill"7 ! *,'•
r," HI are saving $2 to 84 when you; put one on—at Heinruii's at.... ■*■■ |\/// '/.'■' [I
'If I DOESN'T YOUR BOY NEED A SUIT? :Bf UL^'
-1..4J1T: HEINRICH'S 15 THE PLACE TO BUY r %i^W^
sr?^ BOYS' LONG PANT SUITS. These are really little men's suits, made like papa's and quite as stylish dJW Eft
&^_# fur the approaching summer; in black clay worsteds, blue and black serges and all the new checks and %fl M *wW
T*flf stripes; the sizes are 14to 20 years, and cut both double and single breasted; usually. sold at $10; now.. B «■■■■■
ANOTHER LOT LONG PANTS 1 SUITS-Same sizes, K NEE PANTS SUITS, 3to 16 years, pure all wool fabrics,
\ VXtA^V in. blue serges, black cheviots and fancy ,Qm AA all colors and various styles, including vestee $A PA (^»X
\ %V\\ mixtures; they are regular SC.SO to : vQiUU and sailor, some double breasted- they are A/ a 9U XIWS&
\ . .UIA §8.00 values. 5aturday................... ,»T; worth 84, our Saturday price is .............. ■" . %^&
1 • \TI FINEST KNEE PANTS SUITS—In stylish coat-vest- " . . , J^JT
I «LY\ I aud-pants combinations; also Russian blouse and sai- We still have a full line of those KNEE PANTS SUITS of- /C\^^S'"V
W rf\w lor styles; elegantly trimmed and in ! style and finish fered last week at 81.50; they are made of pure Q4 Cfl / \**\ % A
1 / 11U the equal of the suits sold in the east at Of" #1 ft cheviot and cassimere mixtures, nothing better w|i9|| /W«\*\ *AX
-■ j"Ti /// 818.00 and SrO.OO; sizes 3to 16 years; $QiUU for rough use, sizes 3to 16 years; at ■ fc^Bv STj
\l I/ // our price Is only/......./. —. —....... w . . . ' . , XV«.I Ml
'^\ [/■//■ BOYS' 3-PIECE SUITS—(Coat, vest and pants), sizes I'ooo1 '000 PAIRS KNEE PANTS AT 45c-These are made with yrLJjJ
fe /Jr Bto 16 years, in light and dark wool i worsteds and double knees and seat; have taped seams and riveted but- WPl\
I \LJ - cassimeres; just what the young men : £#V 7£ tons; strictly all wool, in fancy gray, brown and. /^i"^ Ml 8:
■■M want; you can't please boys better than O^4if3 plain blue and black cheviots and cassimeres; fcaOO lhr~**gi*
I^P/ with one of ' these suits .;........ W .■ ■ they are well worth 75c; we make them special at . w w C^yEl' !
Vi| BOYS' SHIRT WAISTS AND BLOUSES—We have them ready' BOY'S STOCKINGS AT 9c—We have bought a special lot of - W&
for you in lawns, cambrics and percales; some «£■» " 25 dozen of boys' fast black Stockings, with ■ rf«| Wn
JlN&jv have sailor collar, others ruffle on collar, front /nQ spliced heels and toes; sizes 6to 10. regular 19c MC vkbi
§& ■ and cuffs; they would be reasonable at 40c, sp'l..""^^^ r values. Saturday's price.....;.................... . \Q^^
HEINRICH'S
HATS
WILL FIT YOU—Fit Yonr Head, Fit Your
Pocketbook, Fit Your Ideas of style and
quality.
HEINRICH'S $3 HATS.
This line includes the celebrated "Gordon"
Hat and others, in style and quality the equal
of any. Dunlap and Knox shapes—quality
unsurpassed.
HEINRICH'S $2 HATS.
Set a new standard of value in the Minneap
olis hat trade—the swellest blocks »nd best
stock ever put into a hat to sell at a popular
price—the shapes to put in Stiff or Soft Hats-
HEINRICH'S $1 HATS.
Not sold for pront—simply to advertise
the department—best 31.00 hat you ever saw
—all shapes and styles and colora in Soft
Hats afcd Derbies. Honest good!, giving
good satisfation.
.Featherweight Crush Hat at $I—best ever.
JNO. B. STETSON'S
Hats at • • $3.50
The "Star Brand." Derby and Fedora
best assortment in Minneapo- tf A Ac
lis;alsoat .....s4andss
NEW ZEALAND PLAN
One Member of New Tax Commis
sion Likes It.
—,—, "—""""/' • - '♦*■
TWO MEETINGS HELD THIS WEEK
Fergus Fall* and St. Cloud Dl»ou»i
Taxation Matters With
the Board.
Special to The Journal.
Fergus Falls, May 10.—The tax com
mission has been in this city receiving
suggestions relative to changes in the
tax laws. The commission held a meet
ing at the courthouse and discussed pro
posed changes with County Auditor Lin
coln, ' County Treasurer Butler, County
Attorney Hilton, J.W. Mason, ex-Con
gressman Boen, ex-Representative Louis
O. Foss and others.
- Mr. Butler advocated the repeal of the
law allowing the payment of one-half the
real estate tax June 1 and the other half
Nov. 1. saying,it* had been passed to re
lieve the farmer who was scarce of money
at this season of the year, but he found
that the farmer was the man who paid his
taxes in full, -while. the wealthy nonresi
dent took advantage of the half-payment
plan. The commission seems, to be favor
ably inclined to the idea of appointing a
supervisor of assessors in the different
counties—a man - whose duty it shall be
to see that every assessor does his duty.
One of the plans which has been pro
posed to solve the individual assessment
problem is the sending .of a of all
taxpayers in each town with the amount
of their, taxes set. opposite their names
to every taxpayer with a view to letting
each man know just what he .will have to
pay and what his neighbor has to pay.
It is thought this plan would induce peo
ple to come before the.boards of equali
zation more generally than they do at
present...
•Judge Baxter thought that the whole
Minnesota system of collecting taxes
ought to be changed, his idea being that
the town officers instead of the ; county
officers ought to make the collections."
ExCongressman Boen thought that the
New Zealand system—the ' system under
which all taxes are borne by land, in
comes 'and franchises— the beat | sys
tem of taxation yet devised. <;
The commissioners say they are re
ceiving; valuable pointers , everywhere
they. go. > They are meeting men who> see
the actual workings. of the various laws,
and are learning the good and bad points
of the various enactments. The New Zea
: land plan is regarded with a good deal of
/soMDi etc TTu iII • ■■-■ - Qanri 07n Cut this ad. out and send to as, state whether
movSiie a. © - OZUU "id you wish GENTS' or LADIES' BICYCLE, also
BICYCLES It-..* „t., ... ■ i. jT?^5-&\ height of frame, color and gear wanted, and we will Mend you
from $ 1 1.75 UP. JOB am ira!»AS t*ll'l H1«i! 'rEd* 1901 Model Arle Bltj-el», by express c. O. D.. subject
■ ■ — m vOBV "^^g ' to examination. You can examine at your ex
-^■Wl-^elSfc.. /f V\ . prous oltlcc, and If found p-irfet'tly satisfactory,
jffiPzX /"T^-JV .\V jrJ&\^l^^. •" exaatly as represented, the Most Wonder-
A^\\\ ///jS^eV' V /V Jm^&\ '• : / /^X *v! Value yon ever saw or heard of, equal
/tQmW '//OV^X \\ AT fv<Q\ ///VK to LlcycleVthat reuil as hi(?h as MO.OO. Ifjou
/tfXSAW I^C^lA -IV A/&T'' fSr^s& \/X y^Sk: thinkyoucansell Jtat MO.OO Proßt Any i)m)-, pay
llL^sS^/ IMsC^jßi ■\\ W& " BT-<^C«i -i "^--nSI tll6 PWress auent Our SpwLl Prlee, $i*.4J, Ifgs
| fc^^j##Ss^^^*"!Sp*^ ' IB —-^^ffliCT/' ~y] the «7 cents sent with order, or SI 4. 50 and
Vvt-^^^^^^^'iM?^ Sfc-^yTy/k y^^TEa While Our Sp«I»l Bleycl* C»t*lo o», mailed free
qc^^ftT\^^gl3^^y ': •■•'•'- wV//\\vOf for the asking; shows all Mcyclesbejowall:
W/V7 Ifuyw O m/// \V^r otherHouucu.complete bicycle or. by farthe
• V^/ / \\^& f Ba^ Xwl/ \' \J&- ■ i Our 1901 Modern Argy te at 115.47 Üby far the
L^r<pr <sf :' • - greatest bargain ever offered at the price. It
y***/kh r*^ V . f 3 covered by a binding guarantee, strictly
- SZn» FOR OUR BlCrrCli! CATAlOerit. | e ft e p^« Ha'nleTnn'e^eaufpme^
S^l^dles- iJeirs «"or 74 YOU CAN MAKE »00 THIS YEAR Selling this bicycle. • "". " •'
- ROBERTS' SUPPLY HOUSE, 717, 719. 721 Nicollot Av.nu., Minneapolis, Mia*. '
Heinrich's
Furnishings.
UNDERWEAR.
Lace Weave Underwear—ln blue and !?#%**
ecru, French neck, Bilk trimmed, pearl SJUC
buttons; worth 75c per garment. Special www
Balbriggan Underwear—ln pink, silk
trimmed, pearl buttons; an excellent JOG
quality, usually sold at 50c. Our price.. Www
Fish Netting (Filot) Undershirts—some people
will wear nothing else—they are a sure Ag^
preventative of colds in many cases—in jfi
ecru—the price is w w
Medium Weight Jersey Ribbed Shirts and Draw
ears—They are just what you want. to flkJE?**
wore in— various colors—a good assort- JfjC
—your choice .\ i i:..':'.'-...-: . .-V:.-. ******
NEGLIGEE SHIRTS.
New Percale. Negligee Shirts— ln two shades of
blue and white and two snades of red and white stripes; one
pair of detatched cuffs; newest effects; i"ft m
looks like a $1.50 shirt, and will last HUG
all summer...... ..........*•****
French Madras Negligee shirts— All new spring
patterns in blue and red stripes :01 00 am*! 01 50
in great variety 01, 9110 V!i
favor by at least one member of the com
mission, although all agree that the
change would have to be made gradually,
as its immediate adoption would unset
tle everything in the state.
Tax Supervisor for Counties.
Special to The Journal.
St. Cloud, Minn., May 10.—The state tax
commission spent the day here and met
several county officers, assessors and lax
men. A great deal of Information was
! obtained and the commission indicated it
would report a bill to the legislature fa
voring the creation of a state tax com
mission along the lines of the Indiana
law, providing for the appointment of a
county supervisor in each county, to have
general supervision of all tax matters.
The commission is evidently trying to get
at actual conditions.
FOR THE YODNG PEOPLE
CLOSING SESSION OF THE BAPTISTS
Northfleld Meeting; Nearly Ready to
Adjonrn—Work of the Church
la Discussed.
Special to The Journal.
I Northfleld, Minn., May 10. —The Minne
apolis Baptist association this morning
transacted general business and listened
to the reports of committees. At 10:30
the delegates began the discussion of "Our
Relation to the Work at Large," the prin
cipal speakers being Rev. Frank Peterson,
Mrs. O. E. Young of Minneapolis, Dr. O.
A. Williams and Mrs. W. F. Barrett. Rev.
K. R. Pope spoke of the state convention
and E. M. Hulett closed the session with
a statement of the work and purposes ot
the summer assembly.
Two topics were taken up this after
noon —'"Missionary Spirit" and the "Re
lation of the Church to the Philanthropic
Movement." The speakers were Rev. Mr.
Petorson, Rev. F. R Leach, Mrs. Barrett,
Dr. Williams and Rev. «. L. Morrow. All
the meetings were well attended. The as
soclaiiou will adjourn to-night after a
young people's rally, at which the speak
ers will be Rev. G. F. Holt, Rev. F. H.
Codper and H. B. Steelman.
The second session opened at 2 p. m.
yesterday. The first order of business
CASTOR IA
'^•V For Infants and Children,
The Kind You Have Always Bought
Bears the /tip yj 'ff^JST*
Signature of Cjta&f. £&&&*<
FRIDAY EVENING, MAY 10, 190 L
was the appointment of committees and
the reading of church letters and the re
cital of the history of the Tabernacle
church. At 3:45 p. m. a devotional meet
ing was held. This was followed by an
interesting symposium upon "The Life of
the Soul." The main addresses were giv
en by Rev. L. A. Clevenringer of Minneap
olis, and Rev. G. H. Gamble.
Last evening's session began with de
votional exercises at 7:30. A strong de
nominational sermon was preached by Rev.
G. A. Cleaveland. The speaker endeavored
to show that the inevitable punishment
of lost souls must be purely spiritual suf
fering, since physical suffering through all
eternity is impossible. The speaker
showed that eternal punishment is sim
ply banishment from the presence of God.
The work of the student preachers of the
state, engaged for each vacation, was set
forth by Rev. E. R. Pope, who presented
the needs and explained the prospects.
The association will expend a goodly sum
in this way.
The second address was by Dr. W, \v.
Dawley of Minneapolis. He chose as his
theme "Political and Religious Shibbo
leths." He exposed the present custom
of judging character by human and local
standards. The current plan of judging
conduct and character by one's subscrip-
SIIO6S for the Family.
There is opportunity for much deception in the selling of shoes.
They are frequently made to look well, though they may not
wear well. You may buy shoes here, however, absolutely
without fear of disappointment. Our Shoes are only as they
are represented to ; be—only.: good sterling qualities through
- out. Another advantage—prices. Whatever may be the prices
elsewhere, they are lower here, for reasons of our factory con
nections, low rent and selling for cash only. :
Men's Shoes . V Boys 9 Shoes «$ °<
■' We are showing some exceptionally good \\ Shoes, worth to $-2. in lot all sizes: they
, bargains la Men 1 Shoes. If interested > "are all new, up-to-date styles. If your
it will pay you to see them la our win- > : boy needs a pair, of new Shoes, don t
dowa. ■'" ' ' . ' fall to at least have a look /*» * sy fF
Men's.Dongola Kid and <** :aq .' *L r these- -e> per $*•"*'
. satiu Calf Lace, stylish .%/ ;4O ( p .■•••••• ,•• • • ...
t0e5............ -^y ■<! Sample Shoes
Through circumstances that It will not ,i ■— /7.. .—^ . a % r \ e . n i m n«t overv
Interest you to explain, we are selling i hf U"'e e K^ rt d" Vsj ? thin A O
400 pairs Men's $2.50 Shoes, /ft # n i hlze. one ■ W*™* less than gn
'n black and tan vici kid, Jk If)\§ ,' the'r Talue« on laDles neK 2/(J^
■ all sizes at ■ " %pm.*\*^ ,' . eiea-. »
*£«!? "rtTies to close V<~ •"^ I black and tan kid. and black patent
Several styles to close... "»- «-•: leather; sizes 2to &480-»izes Q
Ladies' Shoes JSS2^^£
- several styles of Ladies" Tan, vest top, ', . 1 CulllS Oliwa canvas with rub
sl.7s Shoes, and Ladles' $1.35 f\ n- i,; ; bersoles that will not crack, " Ofl-,
Mack kid Lace Shoes, all : VoC < all sizes to . fit boys and \SyC
sizes ..........;......1...;.;.. ••*: *<*': ,' • y0uth5............: ..."^
Several styles of ; Ladies' :$2 Sample <' D:-,. r cfc/>ap
Shoes of fine soft vicl kid: /r» 1 jq < \DlCyCle ShOeS ■
in lot, all sizes, choice J)l t 4Q (, Ladies' fine vici kid 8-inch Bike Of OS
■ :> for ; v*« „- |i . shoes, all sizes rr .* /J*<r'-.
We have without question the best La- 'i : Boys' Best Bike Shoes, will wear as well
tdn ee S;ity Sa ht°" . .*?.« $2.50, $3 j j
Lad lea' Oxfords. I .._ ■_ _•.■.-_": . Men's and women's
Several hundred pUrs r^"-^ r'^' '■ "{i / Heffelflnger sample
Several luiuuieu-piirs, ( ___^_ . i v>iiru chnps worth to
of Ladies' oxfovu., la m ,^/g^^S^. ? «i j» M Viß
many different styles, \/M^**%lb <! choice $248
values to SMS in lot; \ [S^^ <
SlbieSrk oed9sc I WHomcTradeM l| Canvas 'Shoes
■ fcal irundred pairs j| &0 ShoC StOTC^ I A™y lar«e Toys
Ladies' oxford Ties, VM M 223 Ni^n^ 'll&\> raent for men. bo>s
. worth $1.73 and $-2,00. ( i \«M **-"-«»«* gtf^y Ji and children;see them
Ss, $1.48 i ln wlndows: prlces
choice....*'* < fflW&rnr' _£._•_ ?'sLT_i^^... < »fu>>-v-y->
HEINRICH'S
SHOES.
Some People Don't Know That We Sell
Shoes, So We Have a Few Reminders, as
Follows:
Men's French Calf Patent Leather Shoes,
at $3.50. These are in both lace and buttoh
style, the latest lasts and as good Qf% EA
a shoe as you can buy anywhere Q JiWV
for S5. Saturday .* w
Men's Russia and Tan Vici Kid Shoes,
Goodyear welt and well made, in lace only, all
the toe popular styles, English O#J Rfl
Rugby, Saxon; ail medium broad
toe. stylish aiid comfortable; at..
Men's Satin Calf $2 Shoes, well made of
solid leather and same shoes that others offer
as a borgain at $1.95 (marked &A EA
down from $3.50.) Our price is v|>vl#
only
Dressy Cloth Shoes, made of gray or tan
covert cloth, solid leather soles, both high and
low cut and in several styles. The 4*4 Cfl
handsome summer outing shoe fors 1 ■ uU
lakeside or comfort at home; only
Men's and Boys' Tennis Shoes in CtfV^fc
black, tan and white—with rubber 3ljC
soles; per pair ........... . ?\
tion to a particular creed of religion and
politics was decried. The address was
witty and full of well chosen illustrations.
At the close of the evening's session the
visitors accepted President Strong's invi
tation to visit Goodsell observatory, which
was opened for their inspection from 9.30
to 11 p. m.
A 200,000' GALLON WELL
Northern Pacific Company Sinks a
Deep One.
' S. Swenson has just finished a 330-foot
8-inch well for the Northern Pacific shops.
The well has a pumping capacity of 200,
--000 ; gallons of water every twenty-four
hours and is one of the largest in the '
city. The water comes within fifteen feet
of the surface and the suction is three
feet in the water. The well was drilled
to take the place of the city water which
was furnished at an expense of $3,200 a
year. • Zuite a saving iis effected for the
company. Mr. Swenson has just been
awarded the contract for " sinking- tr- deep
wel, 10 : inches :in : diameteh, at the site
of the North Star Malting company's new
plant at Seventeenth aveneu and Second
street NE. The well will cost $3.90 per
foot. „- - , . . • V: ■'„.

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