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PRICE TWO CENTS. THURSDAY EVENINjGK JANUARY 16, 1902. 10 PAGES-FIVE O'CLOCK.
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THOSE LEASES
Commissioner Jones Tells of
His Plan Regarding the
Standing Rock Lands
DEADLY ERROR
Forces of Colombian Govern
ment Fight Each Other Un
der Misapprehension.
From The Journal Burreau, Jtootn 48, Py*t
Building, Washington.
Washington, Jan. 16.The proposed
leasing of Standing Rock grazing lands
was considered at to-day's meeting of the
senate committee on Indian affairs. Com
missioner Jones occupied the entire time
of the session, explaining the action of his
office and department. He stated that
more than 700 of the Indians on the reser
vation signed an agreement to lease these
lands and that the department acted
strictly in accordance with this agreement
and the provisions of law authorizing the
lease of grazing lsnds.
He claimed that the Indians now on the
lands it is proposed to lease, will be amply
protected and that whenever the Indians
decide to cede a portion of their reserva
tion to the government and Che land is
opened to settlement, all leases are ter
minated.
The commissioner also claimed that re
ports in his office show that there are
about 25,000 head of cattle belonging to
whites and they have grazing free of any
cost on these lands. Leasing them will,
he said, put it ia the power of the sec
retary of the interior to limit the num
ber of cattle en these ranges and will
yield revenue to the Indians at the same
time.
The committee adjourned until Thurs
day, when Representative Burke will
make a statement. At that time Secre
tary Hitchcock's answer to Senator Jones'
resolution will be in print and Burke can
take it up and analyze it in detail. Re
garding Commissioner Jones' statement
made to-day, Mr. Burke said it was true
that the Indians consented to leasing a
portion of their lands, but the agreement
they signed was for a small lease at so
much per head. The department's pro
posal is to lease on acreage and if its
plan is carried out one company could
get control of all the grazing lands, fence
them and keep every one else out. This,
he said, would retard the growth of the
state for many years. He will explain
the - agreement and other things con
nected with the leases next Thursday.
Commissioner Jones told the committee
that no further action would be taken by
the department until congress does
something.
W. W. Jermane.
WILHEUVPS VISIT
Will Prolmoly Be Made Unless Af
fairs of State Prevent.
Neto Yorh Si*n Special Service
Berlin, Jan. 16.A semi-official organ
suggests that the emperor's plans to visit
the United States depend on the success
of the visit of his brother, Prince Henry.
If he is treated with the respect due a
member of the royal family, the emperor
will sail in September on the 'Hohenzol
lern and will remain about two weeks in
America, with a large escort of German
warships.
Emperor William has occasionally told
Americans that he would like to visit the
United States. The only obstacle in the
way of gratifying his desire is that rea
sons of state may forbid his leaving the
Fatherland for the period of timerequired
even for a short visit to the United
States. Nevertheless, those who know the
kaiser intimately say*.that his majesty,
when he takes a sudden notion, is not
easily balked, even by reasons of state.
Berlin. Jan. 16.Admiral Prince Henry
of Prussia arrived here to-day from i
Kiel. He will remain ten days in Ber- !
lin. The details regarding Prince |
Henry's landing in the United States and
his movements thereafter, are entirely in
the hands of Secretary Hay and Dr. von
Holleben, the German ambasacdor at
Washington.
Washington, Jan. 16.it may be stated
on authority that the Kron Prinz Wil
helm will not deviate from her course and
go first to Hampton Roads, as reported,
but will bear Prince Henry directly to
New York, where the naval demonstration
proper will take place. The following
squadron has been assigned to Rear Ad
miral Evans by the navy department to
welcome the prince: Flagship, the bat
tleship Illinois, protected cruisers Olym
pla, 43an Francisco and Cincinnati and
the cruiser Hartford.
BY DEFADLT
Oleomargarin Men Cease
Fighting Bills Before
the House.
Colon, Colombia, Jan. 16.News of a
mistake in which a force of government
troops fought another body of govern
ment soldiers, thinking it was composed of
Colombian revolutionists, has been^
brought here. The mistake happened in
the vicinity of Dibullo, near Rio Hacha,
and it resulted in eighteen men being
killed and sixty-three being wounded.
The Colombian warship General Pin
zon landed 400 men in Dibullo to drive
back the insurgents. The revolutionists
retreated toward Rio Hacha when the
government troops advanced. The govern
ment force was divided into two bodies
to capture the rebels. One of these met
the rebels and after a sharp engagement
the insurgents retreated. The other body
of government troops then came up, hav
ing heard the firing, and the mistake fol
lowed. Thinking that it was opposed by
rebels, each force started firing. The
fight was kept up for four hours, when
General Foliaco discovered the mistake
and stopped the battle.
TICKETS BURKED
Railroad Companies Sustain
an Unusual Loss in
Chicago.
Chicago, Jan. 18.By a fire in the ticket
office of the union station, Adams and
Canal streets, to-day, over a million dol
lars' worth of unstamped tickets of the
Pennsylvania, Burlington, Alton," St. Paul,
Pan Handle and Fort Wayne roads and
the Pullman company were destroyed, but
it is thought no valid tickets are missing.
The station, which is the property of
the Pennsylvania lines, was damaged
$15,000. The annual passenger statements
of aH the roads were destroyed and will
be delayed two weeks.
Hew York Sun Snmolml Sarvtom
Washington, Jan. 16.The house com
mittee on agriculture, which set aside five
days of the present week for the presen
tation of testimony by manufacturers of
oleomargarin against favorable considera
tion of any of the pending anti-oleo
margarin bills, is experiencing difficulty in
securing witnesses.
The oleomargarin manufacturers have
thus far betrayed no interest in the pro
posed legislation. They have apparently
made up their minds that it is no use for
them to undertake to fight against the
passage of the bill in the house. The
only persons who have appeared before
the committee thus far are representa
tives of a local factory and men who are
more intimately identified with the lobby
than with the actual business of manu
facturing oleomargarin. It is likely that
the manufacturers are reserving their
energies for a fight before the senate
committee. .
SHAW IS
CUMMINS IN
Inaugural Day] in Iowa's
s Capital City.
DISPLAY BY MILITARY
Corridors of the Capitol Filled With
Great Throngs.
ALLISON AND DOLLIVER SPEAK
Four Generations o^ the Cumniins
Family Witness | the Exer
claes of theDay.
WILL FAVOR
THE PANAMA
Change of View of the Canal
Commission.
FRENCH PROPOSITION
The Commission to Consider It at a
Special Meeting.
DOUBT IN MINDS CONGRESSIONAL
French May Have Reduced Their
Price Because Panama Project'
Was Found Hopeless.
BARRING CHINAMEN
Pacific Coaxt Statesmen Agree Upon
a Bill.
Washington, Jan. 16.At a meeting to
day of Pacific coast senators and repre
sentatives, a final determination was
reached as to the course to be pursued
on Chinese exclusion legislation. It was
resolved to support a bill which Represen
tative Kahn will introduce in the house
and Senator Mitchell in the senate. This
bill provides:
That entry into the mainland territory of
the United States of Chinese laborers com
ing from any of its insular possessions be
absolutely prohibited and the prohibition
shall apply to all Chinese laborers, as well as
such as were in such insular possessions at
the time of the acquisition by the United
States, or to those who have come there
since, and to those who have been born there
since and to those who may come hereafter,
and to those who Yiay hereafter be born
there. - . , -
(Governor Cummins' address on page 10.)
Special to The Journal, j
Des Moines, Iowa, Jap. 16.Amid Im
posing scenes and ceremonies, A. B. Cum
mins and John Herriott' were this after
noon inaugurated as governor and lieu
tenant governor, to succeed Governor L.
M. Shaw and Lieutenant Governor J. C.
Milliman. The exerclsfs of the after
noon were held in the presence of one of
the largest crowds that ever witnessed
like observances here. he visitors from
points in Iowa outside of |bes Moines were
numerous and included d&'any of the most
distinguished people of ^he state. Sena
tor William B. Allison and Senator J. B.
Dolliver were among those in attendance.
The inaugural consisted of a parade
from the statehouse to the auditorium,
and exercises at the auditorium. The ar
rangements were in charge of a commit
tee of the senate and house, consisting
of six members from each body. These
were Senators Dowell, Junkin, Healy,
Trewin, Hayward and Ball and Represen
tatives Teachout, Larrabee, Cummings,
Gilchrist, Nagle and Whiting. The Grant
club of this city did the actual work of
looking after the preliminaries and Colo
nel E. O, Pratt, president of the Grant
club, was in active charge of the parade
to-day.
Military Parade.
The procession was marked by a fine
military display. It moved from the east
door of the statehouse at 1:30 this after
noon, and was headed by a squad of police
and the Iowa State Military band of this
city. Then followed a battalion of five
companies of infantry, under command of
Major E. R. Bennett of this city. The
national guard companies participating
were the four crack companies of the
state in addition to the Des Moines com
pany. They were Company A of Du
buque of the Forty-ninth regiment, Com
pany B of Davenport of the Fiftieth regi
ment, Company L of Sioux City of the
Fifty-second, regiment. Company F of
Oskaloosa of the Fifty-first regiment,
Company A of Des Moines of the Fifty
first regiment.
Following the military, were carriages
containing members of tlie legislature, the
new and retiring governors and lieutenant
governors, the state ofS^fts and members
of the supreme court.: -Senators Allison
and Dolliver also had a place la the line
of carriages, and likewise the chaplain of
the day, Bishop Morrison of Davenport,
of the Episcopal diocese of Iowa.
Arrival at the Capitol.
The second carriage contained Governor
Shaw, Governor-elect Cummins, Chief
Justice Scott M. Ladd of the supreme
court, and Adjutant General Byers. As
the governor and governor-elect appeared
at the east door of the capitol, whence the
procession moved, they were greeted with
a burst of trumpets, sounding the gen
eral's march. The waiting battalion pre-
! sented arms. The colors were dipped and
i a salute was fired. Great throngs of
! spectators stood about the capitol and
j filled the corridors and along the route of
i thte procession through the business dis
tricts, crowds looked on from the side
walk and streets.
At the auditorium, Lieutenant Govern
or J. V. Millman presided. After song,
and the announcing of the invocation, by
Bishop Morrison, the oath of office was
administered to Messrs. Cummins and
Herriott by Chief Justice Scott M. Ladd.
The inaugural address was then de
livered by Governor Cummins.
Shaw, Allison and Dolliver.
Governor Shaw also made a brief fare
well address and Senators Allison and
Dolliver were called upon to speak by the
audience. In every nook and corner of
the vast auditorium was occupied, and on
the stage were seated the membera of the
genral assembly and of the supreme court
and state officers. .
In a box close to the stage from which
Governor Cummins delivered his address
were his parents, his daughter and his
grandchild, Cummins Rawson four gene
rations of the Cummins family being pres
ent at the inaugural.
A reception will be given this evening
at the capitol by the new governor and
his predecessor. POPE MAY RECUPERATE
Vatican Circles Not Alarmed at His
Condition.
JVete Tbrfc Sun Special Servioe
London, Jan. 16.Stories which cause
uneasiness among Catholics in London
continue to come from Rome, as well as
from other continental centers, in regard
to the health ol the pope. His recupera
tive powers are such, though, that when
ever apprehension is felt elsewhere there
is little or none in Vatican circles. Men
tally Leo XIII. is a marvel of strength.
Visitors to the. Vatican who have heard
him speak have wondered. His expres
sive eyes have never been brighter, or
more inarvelously earnest, despite his 92
years.
Mmw York Sun Snaoiml Smrvlaa
Washington, Jan. 16.A special meet
ing of the Isthmian canal commission
was held to-day for the purpose of con
sidering the latest proposition of the
French people to sell their right in the
Panama canal for the lump sum of $40,-
000,000. There is every reason to believe
that the commission, which already has
reported in favor of the Nicaragtfan route
across the isthmus, will now change its
mind and report in favor of the Panama
canal line. This is due entirely to the re
vised offer of the French shareholders to
sell outall their interests in the canal for
$40,000,000. Rear Admiral Walker and his
commission declared in the first place that
they might have favored the Panama can
al except for the exorbitant price set upon
it by the French owners. Now Walker
and his associates believe they have ac
complished a great feat in inducing the
Frenchmen to cut their price down to
about one-third of the original figure. The
majority_ of the commission favored the
Panama "route in- case it could be bought
for $60,000,000. Now that it has forced
the Frenchmen to go down to $40,000,000,
the commission will favor the Panama
route as being best under all circum
stances.
This does not mean that the Panama
route^necessarily will be selected. There
is a strong feeling in both house and sen
ate that if the French people have spent
over $200,000,000 on a canal toy way of
Panama, and have been unable to com
plete the work, but are willing to sell out
all their rights for $40,000,000,. it must be
because the project as a whole is nearly
or quite hopeless.
It is expected that the commission will
have completed its work and be ready to
report to the president by next Saturday.
l i ^ M ^
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'C-' N. C0SGR0VE, LE SUEUR ^ : f
THE KEW' PRESIDENT OF THE STATE AGRICULTURAL
" " " - ' " " " ' i - / :
Siti
SOCIETY
A WOMAI^S DEATH
Young Men May Have to Answer
Sofgn's Sensation.
Special to The Journal.
Red Wing. Miiin., Jan. 16.An official
investigation just completed sihows that
Mrs. Mary Norlie, who was found dead
near Sogn, had been treated to alcohol
punch t some young men and died of
alcohol poison or exposure.
She leaves a husband.'and. a 13-year-old
daughter. The affair has caused a great
sensation.
SUPT AT HASTINGS
W. J. Yanz Is Placed in Charge of
the Asylum,
W. X Yanz has been elected suerin
tendent of the Hastings insane asylum
by the state board of control. Mr. Yantf
has been in charge of the institution since
July 1, when his predecessor, Robert Car
michael, was taken to ^he Rochester hos
pital.
'* CLOTHIER FAILS
Liabilities of Romer of Oskaloosa
-'"/''".' Ari 59,000. . ^
Oskaloosa, Iowa, Jan. 16.Fred Romer,
a retail clothing merchant of this city,
to-day filed a petition in .bankruptcy. His
liabilities are placed at $69,000 and-assetB
(,132,000. v -
WASHBURN -
RQAD CASES
Jail Sentences for Two Offi
cials of Bayfield County,
Wisconsin.
Six Others Fined $250 Each
Contempt Proceedings
at Madison.
A SHORT, SNAPPY
EXTRA SESSION
Every Effort Will Be Made to Keep
the Track Clear for Tax
Legislation.
Legislators Out to Make Campaign
Records Will Be Blocked
Caucus Will Rule.
Special to The Journal.
Madison, Wis., Jan. 16.Judge Jenkins,
sitting. for Judge Bunn in the federal
court, to-day entered judgment finding
District Attorney A. W- McLeod, Sheriff
Liem and other Bayfield county people,
who interfered with the execution of
Judge Bunn's order directing Receiver
Frost to tear up the Washburn, Bayfield
& Iron River road, guilty of contempt of
court.
District Attorney McLeod and Sheriff
Lien, being officers of the law, were
deemed more guilty than the others, and
the court sentenced them to sixty days
each in the Dane county jail.
The six other defendantsCaptain R.
D. Pike of Bayfield, D. M. Maxcy, M. M.
Sprague, W. H. Lemke, John A. Jacobs
and Carl Hirsch of Washburn, were sen
tenced to pay fines of $250 each.
A stay of execution for ten days was
granted on motion of H. H. Hayden, at
torney for the defendants, in order to give
time for taking the case to the United
States court of appeals on a writ of error.
Judge Jenkins did not decide definitely
the question whether the order direoting
the tearing up of the road was a proper
one, but he quoted the expression of the
late Chief Justice Ryan in saying that if
it was error the court had jurisdiction
to commit the error, the railroad being
in possession of the court and in charge
of a receiver.
He expressed astonishment at the ac
tion of Circuit Judge Parish, of Bayfield
county 4n issuing such a decree as the
writ of mandamus to restrain the re
ceiver from executing the final decree of
the court having jurisdiction. The Unit
ed States statute relied upon, by the de
fendants as authorizing such a suit against
the receiver was not intended, the court
said, "to enable the state court to render
nugatory a decree of the federal court
having jurisdiction. This would produce
anarchy."
In the case of the six minor defendants,
the court said their conduct might be miti
gated though not justified by the fact that
they acted under advice of counsel and
appeared as taxpayers. He characterized
the conduct of Sheriff-Liem and Distriot
Attorney McLeod as flagrant and. unwar
ranted resistance to the decree of this
court which could not be passed over
without a fine.
A TREMPELEAU MAW
Fullmer of Ettrlclt New President of
Wisconsin Buttermakers.
Special to The Journal.
Madison, Wis,, Jan. 16.The Wisconsin
Buttermakers' association to-day elected
officers a follows: President, F. B.
Fullmen, Ettrick, Trempeleau county
vice president, James Van Dusen, Hebron
secretary, Bjofessor E. H. Farrington,
Madison treasurer, M. Michels, Garrets
executive committee, G. B. Vinser, of
Hustler, C. J. Dodge of Windsor and R.
C. Green of Albion.
In the award of prizes for the best but
ter, George H. Holmes of Baraboo won
first place and the gold medal, scoring 98
out of a possible 100. M.a,L. Van Dresser
of Bloomer was second arid won the silver
medal, scoring 97V&. About fifty com
petitors who scored 90 or above will share
pro rata in the prize fund, amounting to
about 8&.000r .
Advocates of the new tax code, which
will be adopted or rejected by the legis
lature in extra session next month, ex
pect to see the measure put through in
ten days or two weeks, and without in
jurious amendments. .
They admit that a large element in both
houses of the legislature is intending to.
tear the bill wide open, and to overwhelm
it with amendments. If the contemplated
program Is carried out, however, the bill
will go through almost unscathed.
An extra session cannot be handled like
the regular ninety-day affair. It comes
just before a state campaign, and to pro
tract it, or to ipass a bad bill, would mean
disaster for the republican party, which
has a big majority in both houses.
Business must be rushed, and the repub
lican members of both houses must steer
to a definite course, in order to make
the session successful.
Caucus Action Will Rule.
'Caucus action will rule, unless the "fly
ing squadron" shows its hand and bids
defiance by refusing to enter into a cau
cus agreement.
The legislature is called to meet Feb.
4. An effort will- be made to secure a full
attendance of republican members on
Monday evening, Feb. 3. This will be
preliminary to a series of caucuses. A
resolution will be introduced that even
ing, binding the republican members to
a definite time for adjournment, and what
ever date the caucus decides on will be
jput through the. next dax in the form of
a joint resolutionr-This wiii make it im
possible to drag the session out beyond
a specified time, and will make it neces
sary for the members to get down to busi
ness and stay there. A likely date for
the adjournment is Friday, Feb. 21. This
will .give practically three weeks for work.
Limit on Legislation.
This first caucus may also decide on a
resolution limiting the introduction of
bills to tax matters, except on recommen
dation of the governor. This will shut the
gates on general legislation. It will hold
the houses down to the tax code'and such
emergency measures as the governor re
quests. The plan will also head off bills
presented by legislators who are to come
t:6rd
for re-election and want to make a
purely for campaign purposes.
Much legislation of this sort is already
contemplated.
Next morning, Feb. 4, both houses will
convene at 11 o'clock. The former organ
ization will be undisturbed, except in case
of officers who do not care to return. A
message from the governor will then be
presented, in which he will introduce the
report of the tax commission. With this
report will come the new tax code and.
the bill for amendment of the constitu
tion. These bills will be introduced in
each house in regular form. The chair
men of the committee on taxes and tax
laws will probably perform the office, A.
R. McGill in the senate, and C. L. Wal
lace in the house.
At the same time a host of amendments
will probably appear. Copies of the new
law are now in the hands of members,
many of whom will have changes to sug
gest. They will have them drawn in the
form of amendments, ready to Introduce
the first day or - o. All will be referred
to the tax committees, which will proba
bly handle the various topics through sub
committees.
Amendments Considered In Caucus.
Another republican caucus will consider
these amendments, and agree on their re
jection or adoption. Bound by caucus
action, the amendments will be added to
the bill or go down to defeat.
By working evenings in oaucus-and days
In committee of the whole, the bill can be
put through in short order. Then if time
remains some general legislation may be
accomplished, the amendment of the board
of control bill/ for instance. It is ex
pected that the governor, in his message,
will ask an appropriation to help the at
torney general in fighting the Northern
Securities case. This can be passed in
five minutes.
This is the program of those members
who mean business. It is believed to have
the sanotlon of the governor in a general
way. He has heard from a number of
legislators within a week, nearly all com
mending the new tax code, and favoring
prompt action on it. The governor will
not ask that .the legislature pass the bill
word for word, as it comes to them, but he
is in favor of the system as a whole, and
will use his Influence not to have it crip
pled.
The strongest opposition will come from
the public service corporations, who will
be hard hit by the franchise tax. It is not
believed, however, that they will make
any strenuous efforts to knock out this
feature. If they take any hand, it will be
to cripple the measure in an indirect way.
State Auditor Dunn suggested in a re
cent interview In T h e J o u r n a l that
the attendance of the three tax commis
sioners be secured at the capitol during
the session. To do this will require a
resolution requesting their attendance,
and appropriating money to pay them for
their time. Such a resolution will, with
out doubt, be introduced.
Reduced Exemption Opposed.
Some of - the amendments suggested to
the bill, which are strongly supported, can
be adopted without hampering its gen
eral provisions. The strongest objection
is raised to the section reducing the per
sonal property exemption to $25. John C
Sweet, representative from the thirty
ninth district, said to-day:
From my reading of the bill, the $25 exemp
tion is about the only feature I would oppose.
The poor man pays enough taxes now. Ev
erything he owns is reached. The assessor
can see his furniture, his horses and cows,
wagons and other chattels. It is the man
who owns bank stock, or has money in the
bank, who escapes. From the talk I have had
with people in my district, they seem to favor
leaving the exemption at $100.
Former Governor Lind also objects to
this change in the law. His principal ob
jection is, however, that the new code
does not impose any tax on foreign cor
porations doing business in the state,
except the fee required by the Somerville
law. Many suoh things were considered
by the tax commission, and will be made
possible by the amendments to the consti
tution proposed in their report.
Odin Halden, county auditor of St. Louis
county and a candidate for state auditor,
objects to the new method of bidding in
property at tax sale, under which it goes
to the man bidding the amount charged
at lowest "rale, of interest. This, he says,
is in the'interest of the owner, who is
pretty well taken care of already. The
tax title sharks bring money to the state,
though they are by no means philan
thropists. In general, Mr. Halden ap
proves the law.
By securing the attendance of Messrs.
Ives, Childs and Hahn at the extra ses
sion, the legislature may make sure that
such amendments are properly drawn, and
that they do hot conflict with other sec
tions of the bill.
Thanks to the industry of State Printer
Whitney, the new law was in the hands of
legislators Tuesday. The copy was not
secured until Thursday night, but in three
days h6 had printed and bound a thou
sand copies of a 222-page book, including
an elaborate index.
FAVORS SHORT SESSION
STATE AUDITOR'S VIEWS
Mr. Dunn Thinks Korelgfn Corpora*
tlons Should Be Reached.
State Auditor Dunn agrees with For
mer Governor Lind that it would be m
good thing .to make foreign corporations
doing business in Minnesota contribute
something to the state treasury in return
for what they take out. Mr. Dunn does
not - see, however, how this can be ac
complished. He said this morning:
I am as anxious as Governor Lind is to
reach these people, but I have never heard
anyone propose a feasible way. If Mr. Lind
will suggest a practical plan, he will he a
benefactor. I am studying on that constitu
tional amendment giving the legislature the
power to delegate to counties the method of
raising revenue. I am not condemning it at
this time, but it seems to me that it is putting
a dangerous power in the hands of localities,
which might result in a gross injustice to
interests not exempted.
MILWAUKEE DIVIDEND
iSK"!
Senator R. E. Thompson on Special.
Session and Tax Bill.
Senator R. E. Thompson of Preston,
and Representative P. J. Schwarg of
Dodge Center, called on Governor Van
Sant this morning. Both expressed them
selves as, on the whole, pleased with the
new tax bill. Senator Thompson said:
It shows great care and study on the part of
the commission. The system they propose ia
a good one. I would restore the exemption
on personal property to $100, and other,
changes may be necessary. I favor limiting
our work to the tax bill. If we go into gen
eral legislation there is no telling where we
will stop. We ought to finish in fifteen or
twenty days.
Mr. Schwarg said he had not finished
reading .the bill, but liked what he had -
read. He looked for considerable onno
sition from farmers to the change in cs?'
of assessment. April 1 will catch a goo*
many farmers with fat stock and grain
on their hands, which ordinarily is move
by May 1.
* 4
Rumored Intention to Put the Rate '
Up to 7 Per Cent.
Special to The Journal.
New York, Jan. 16.It was understood
when the guarantee of the Northern Pa
cific-Great Northern combination was re
fused by the stockholders of the Chicago,
Milwaukee & St. Paul railway, that the
management would follow a more liberal
dividend policy in future. It was current
ly reported at the time that in view of
the stockholders' refusal the controlling
interests had promised to put the stock
on a 7 per cent basis and continue it at
that rate as long as the earnings Justified
such a policy.
The recent statement of Chairman Roa
well Miller that the company would con
tinue to put extra earnings back into tho
property, but not on so large a scale as
heretofore, indicates that the company is
desirous of making surplus earnings show
up as handsomely as possible upon capi
tal stock and baa served to-^axixe. the
rumors that it is Intended to laereaae tk
dividend rate te Tpar oant,
