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THE REPUBLIC: SUNDAY. JUNE 22, 1902.
IS
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THE ST. LOUIS REPUBLIC.
PUBLISHERS: GEORGE KNAPP & CO.
Charles W Knapp. President and Gen. ilgr.
George L. Allen, Vice Fiesident.
W. B. Carr, Secretary.
Office: Cornt-r Sevinth and Olive Streets.
(REPUBLJC BUILDING.)
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Six months S.00
Thre months L50
Any three days except Sunday one year 3.0)
Sunday, with Magazine - 2.0
Special Hall Edition. Sunday l-3
Eund.iv Magazine L23
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Per week, dally and Sunday 11 cents
TWICB-A-WEEK ISSUE.
Published Monday and Thursday one year Jl-W
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Address: THE REPUBLIC.
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Entered In the Post Office at St. Louis, Mo., as second
class matter.
DOMESTIC POSTAGE. PER COPY.
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TELEPHONE NUMBERS.
Bell. Kinloch.
Cou-itlng-T?nom Main 3018 A 6J3
Editorial Re-vptlon-Rnn-n Park l.V! A 674
SUNDAY, JUNE 22, 1002.
CIRCULATION DURING MAY.
r-hnrli W Knann. General Manacer of The St. Louis
Republic being duly sworn, says that the actual number of
full and complete copies of the daily and Sunday Republic
printed during the month of May, 1502. all in regular
idluons, v.ai as per schedule below:
Date.
a""""!!"
A Sunday
5
Cople-a
..ni.jyo
..1H.940
. 118.270
..111,770
Data.
17
18 Sunday..
19
20..
Coplts.
.1H.-20
.. 119,340
..113.4J0
113,950
21 Ii5.290
22 IN. HO ,
23 1H.420 i
U 115,700
25 Sunday 120.280
26 1H.170
27 114,-'90
28 114.610
29 114.140
30 . 114,530
31 116,720
.3,547,350
es.iw
6 111,763
7 1I2.0J0
8 111. '10
9 112.610
!0 115,170
1! Sunday 118.310
12 113,510
12 1I2-.500
14 112.500
IS 112,740
16 114,810
Total lor the month .
Less ell copies spoiled in printing;, left oyer or
Died
Net number distributed 3,4. 9,240
Avertge cliiu distribution 112,233
And raid Charles W. Knapp further says that the num
ber of coglri returned and reported unsold during the
month of May was 6-S9 per cent.
CHAS. TV. KNAPP.
Sworn to and subscribed before me this 31st day of
Uay, ISO.
J. F. FARISH.
Notary Public, City of Jt. Louis, Ma.
My term expires April 36. 1MB.
syTho St. Louis carrier forco of The Ropubllo
ft liver morothin 54,000 coplos every day. ThlB
It neorly lour times aa many as any othor morn
ing newepapor dollvory In St. Louis and mora
"tr in twice os mt-ny ats any morning or overling
culvory.
WORLD'S 904 FAIR.
-4t
WILL RECALL SONQ AND STOUT.
as submitted to and approved by World's Fair
Director of Works Taylor, the plans for the reproduc
tion of the Burns Cottage and of Stirling Castle at the
EL Louis World's Fair Indicate that this exhibit will
bo one of the most picturesque and attractive fea
tures Bo much of Scottish song and story are Involved
In th? associations withering around grim old Stirling
that this famous structure, faithfully duplicated and
used for the exhibition of relics, curios, manuscripts
and other Scottish souvenirs, cannot but attract the
most Interested attention.
As for the Rurns Cottage Itself, an exact copy of
the lowly thatched Ayr home of the world's truest
lyric poet, every lover of the Inspired plotvboy will
find It perhaps the most satisfying spot In the
World's Fair grounds. And these lovers are many,
because "Bobby" Burns sang straight to the hearts of
all humanity, rather than to the merely select In let
tern! Be was human with a humannesa that makes
a universal appeal.
The management of the Burns Cottage Associa
tion, will have an opportunity to achieve one of the
most memorable successes of the World's Fair of
1004 not a big, flashy, sensational eucccss, but
genuine and lasting In the world's recollection. It is
gratifying to perceive Indications that this truth Is
fully realized and being acted upon with vigor and
intelligence.
TOO BRASSY IN EVERY WAY.
There 'Is so, total a violation of the proprieties In
the proposition thnt the names of the contributors to
the, Thomas Dunn English monument fund shall be
"imperishably preserved-on brass sheets In the monu
ment" as to call for wonderment that the Society of
American Authors should be guilty of such a piece
of lnd'ullcacy.
Why. In'tbe name of alUthat la decent and self
respecting, should sq flagrant an attempt at self-advertisement
lie Incorporated In an otherwise com
mendable movement to honor the memory of an
American1 poet? The proposed monument should 1)0
a monument to Thomas Duun" English, not a tribute
In' imperishable brass to those who paid for the monu
ment, ,
It Is true that Imperishable brass would be the
most appropriate medium for blazoning the names of
egotistical folk, yet an American poet's unonumcut
may not be so disfigured without provoking popular
protest.
The goelety of American Authors may with much
benefit to Itself abandon the Imperishable Orvs
memorial feature of the Thomas Dunn EngllslI
monument. Let tne author of "Ben Bolt"' be titiing
ly honored, by all means. This may best be done
however, thibugh the -contributions of modesty lov'-rs
of letters who do not Insist that their names shall be
""imperishably preserved on brass sheets In the mouu-
ment."
.
FOR THE CHILDREN.
Gradually but certainly the philanthropic souls of
St Louis are making pleasant the ways of the boys
and girls' whose environments are restricted by build
ings and streets. Within the next two or three years,
thera should not be a section of St. Louis wliere the
, children will lack a plenty of air, water and cither at
tractions which make .summer a time nf enjoyment,
"Last year, the Turner societies succeeded In pro
curing n number of swings which were placed In the
parUs. "Any one passing Carr Park could see the
pleasure which tie Juvenile portion of the papulation
In that crowded district derived from the innovation.
,,,3CMr year playground axe being ertabllahfid la
neighborhoods which have been chiefly noted for their
lack of comforts. The first of these Is being prepared
back of the great Ashley building, one of the largest
tenements in the city. The ground Is being leveled,
covered with clay," shower baths Installed and mate
rials for games furnished. The children will be di
rected In their play by experienced adults who have'
volunteered for this service of love. Resorts of a sim
ilar character will be fixed in other parts of the city.
Harbor Commissioner Wbyte has made arrange
ments for the construction of a floating bath house ou
the river. This Is Intended as the beginning of a se
ries of natatoriums which will be placed along the
levee, furnishing a healthy recreation for those who
are unable to patronize private establishments.
This solicitude for the children is a manifestation
of municipal philanthropy of which all those partici
pating can well be proud. The extension of the work
is necessary. Any uplifting influence given to the
children will bring a reward worthy of the efforts now
being expended.
,
' THE LIGHT THAT FAILS.
Professor Triggs of the University of Chii-aso lias
just declared in a public address that the average col
lege graduate of to-day is unlit for the practical af
fairs of life and that the "culture" of a college educa
tiou is of service only in a stale of idleness.
President Schwab of the United Stales Steel cor
poration makes a simultaneous declaration to the effect
that the college man in the world of practical affairs
depends too much on bis diploma and that, refusing
to start at the bottom and learn a business practically,
ho is outstripped by those whom he looks down upon
because of their lack of a college education.
Following these extremely frank assertions both
men give good advice In the field under discussion.
Professor Triggs pleads earnestly for more schools
of technology and fewer colleges where the literary
course Is the principal one. Mr. Schwab urges .voting
men to be thorough in whatever they undertake, to
keep working, to be interested In their work, to make
themselves practically competent, to lctn-n their busi
ness to think on their own initiative.
There is no occasion to regret the fact that these
two men. the one a member of a great college faculty,
the other the head of the greatest industrial corporation
in the world, are doubtful as to the pnductlve value of
the college education of the present day. The educa
tional truth most vividly in evidence now Is that the
colleges themselves mu-t confess that they do not mi'Ot
the true educational needs of the times and must set
about a more vilaliziug system of training. A college
training must equip a man for the world of nff.iirs, not
for the world of books alone. It must develop the man
of action, not the mere passive recipient of second
hand thoughts. The practical things of life, the de
tails of business and government, the hiiher crafts
manship, are more worthy of being taught than most
of the dead material foisted into the minds of students
by the geneial run of colleges.
Instead of feeling regret, the healthful thinker will
rejoice that our educational institutions are being
prodded Into a realization of their tnie duty and op
portunity. The world has too long labored under a
misapprehension as to genuine education. The best
educated man is not he whose mind is filled fullest
with the parrot-rote of text-books, but he who is most
fully equipped to step out Into the great world and
hold his own with men of action and of forceful
achievement.
A LEE STATUE IN WASHINGTON.
Charles Francis Adams's advocacy of the erection
of a statue of Robert E. Lee In Washington will not
by any means impress temperate and thoughtful
minds in the North as being ill-advised or as contem
plating the rendering of a high Iioiibr to an unworthy
American.
The distinguished Massachusetts publicist is en
abled, happily, to enjoy a clear vision of Lee's figure
as that figure will undoubtedly appear to all Ameri
cans of a later generation than outs. He sees tho
greatest Confederate commander as a soldier of tho
rarest ability, as a patriot of utter sincerity, as an
American of a type admirably representative of the
best In our national life.
Lee patriotism was of that early American kind
that led him to hold his fealty to his State as the first
and highest claim. He was opposed to secession. He
had splendidly served his flag and country and his soul
shrank from the thought of fighting against his Hag
and country. But when Virginia seceded from the
Union, this greatest of her sons in his generation sac
rificed his personal convictions and went with his
State. No greater sacrifice was made in oil that un
happy time.
In the days following the Civil War, the influence
of Lee was all-powerful In behalf of the Union. He
had been loyal to his State: he was the foremost cham
pion of loyalty to the Union when the arbitrament of
war had forever settled the question upon which his
State had gone out of the Union. At all times his
character was of the loftiest, his Americanism of the
sluccrest Americans can well afford to honor this
great Virginian whom all the world delights to honor.
NECESSARY TO THE PUBLIC HEALTH.
With three milk Inspection bills now pending In the
Municipal Assembly there should be no doubt of final
action to establish the necessary guarantee of pure
mlik, which can be offered only by means of skilled
analysis of the supply.
The truth of the Imperative need of competent milk
Inspection cannot be too frequently Insisted upon
while these bills are pending. Proper consideration
for the public health demands the establishment of a
system which shall prevent the sale of any but whole
some milk.
Especially In the summer Is the danger to health
most serious If the milk supply of n great city Is not
effectively safeguarded against impurity. There
should be no delay In Inaugurating the best modern
system of Inspection.
The Council and House of Delegates should lose
no time In enacting a law providing for milk inspec
tion along the best lines. It Is to be presumed that
any bill which meets the approval of the Health De
partment Is worthy of favorable action. The local
community will hope to see this important matter dis
posed of very shortly.
q .
STAGE DECADENT THROUGH PROSPERITY.
Mr. Richard Mansfie!d's recent jeremiad on the
decadence of the stage and the decline of the art of
acting, while due in some measure to the constitu
tional pessimism of the speaker, has nevertheless so
sound a foundation In fact as to call for genuine re
gret In minds that love the play.
A lack of sincerity and of proper respect for tho
art, the destruction to a marked extent of the In
dividuality of actors capable of great things could
they attain their healthful growth, the depressing In
fluence of the syndicate system, which is the main
cause of the lack of Individuality and of the arrested
development of certain players, anda commercialized
contempt for the literary side of 4he.drania, are responsible-
for the degraded stage of which Mr. Mans
field complnlns. Just how these evils are to be
eliminated Is a problem that must be solved before
Tery long if good acting is not to become a sheen
tradition.
The truth must be confessed, also, that too great
prosperity, from the monetary standpoint, has been
woefully injurious to the stngQ. Strange as it may
seem, the true artist Is at his best when life is a
struggle and when his high ideals constitute his prin
cipal source -of happiness. There were better actois
and better managers in the days when both were
poor and more or less contemned than now, when
wealth Is theirs, and society's doors are flung wide
for their entrance, and titles of distinction are con
ferred upon them at their prosperous zenith of fame.
The reason for this Is extremely simple. The artist
has no business with anything but the exercise of his
supreme gift. His life should be gladly and proudly
devoted to this. The fewer advantages he enjoys lu
other directions, the better for his art.
Of course, this is an old .teaching, and now, as al
ways, provokes the laughter of those to whom money
and luxurious living stand for the best in life. Yet
It is so true that it may be correctly termed the very
gospel of art. The stage of to-day is decadent be
cause of too great prosperity. The actors of to-duy
are decadent because there are so many other tilings
which they hold superior to their art.
$'
MR. CHURCHILL'S WORLDS FAIR NOVEL.
Mr. Winston Churchill's announced determination
of writing a novel of the Louisiana Purchase, the scone
to be laid lu St, Louis and the characters comprising
some of the famous folk of those days, will doubtless
be heard with pleasure by the reading public.
The picturesque atmosphere available in such a
novel, the spirited action and strong local color, the
background of a historical transaction of the first
magnitude, must certainly appeal powerfully to a
writer of Mr. Churchill's temperament and especial
gifts. Judging from his achievement in "The Crisis.'
the strongest features of which were those of histori
cal action and portraiture, the young St. Louisan
.should do notable work in the field which lie now con
templates entering. It is true that another St. Louis
an, Mrs. Sheppard Stevens, lias written a most cred
itable novel of the Louisiana Purchase, entitled "In
the Eagle's Talon," the scone being laid in St. Louis,
but that is uo roasou for discouragement on Mr.
Churchill's part. The field is rich enougli to repay all
who have the strength for its proper gleaning.
Such a novel as Mr. Churchill cnnti'tnplates would,
if issued about the time of the World's Fair opening,
undoubtedly receive a most appreciative welcome.
The World's Fair, celebrating the centennial anniver
sary of the Louisiana PurcluJse, itself lends vitality
to historical fiction of those days. The Interest nrou'-ed
by the World's Fair must of necessity extend to what
may be described as a World's Fair novel. An inter
national interest would thus be almost certain of de
velopment, Independent of that due to Mr. Churchill's
previous high achievement In fiction, and the timeli
ness of such a publication would constitute an adver
tising medium of tremendous value.
The reading public will await with keen solicitude
the further details of Sir. Churchill's contemplated
new novel. That author's thoroughness In the collec
tion and preparation of his material Insures a sound
and worthy production. Iii a novel of the Louisiana
Purchaso he should be nble to do work surpassing
that now placed to his credit in "The Crisis" and
"Richard Carvel."
..
Your true philosopher In the summer-time is he
who. unable to take a holiday from work, yet makes
as much of a holiday as is permissible without a neg
lect of duty. An hour or so of loafing and refresh
ment of the soul robs a working-day of much of its
terrors. Try a summer holiday on the Installment
plan.
When President Roosevelt comes to St. Louis next
September ibe'll find his favorite "strenuous life" well
illustrated In the busy scene out at the World's Fair
site. That spot represents the animating center of
the making of tho New St. Louis.
.-a-.
President Roosevelt's experience with the Con
gressional "team of wild horses" now promises to
call for all the pluck, skill and masterfulness with
winch his Rough Rider traiulug is believed to have
equipped him.
$-
King Edward's sudden chill and weakness along
the spinal column was probably caused by a realiza
tion of the Imminence of Poet Laureate Austin's
coronation ode.
..$..
RECENT COMMENT.-
VARIOUS METHODS OF
RAILROAD CONSOLIDATION.
ilost'Xovel Merger Plan Is the Community of Interest, Which Givrs
Absorbing Road Absolute Control Over Subsidiary Routes
Advantages of an Acquisition by Lease Object of the
Alliances of To-Pay Is to Obviate Competition.
Where It MIsrht Work Well.
Washington Star. .
"I have ntver let my personal interests influence my
official career!" said the conscientious member ot Con
gress. Well," said the cold constituent, "I'm a little sorry
to hear you say so. I was Inclined to hope that you and
your colleagues would allow this hot weather to per
suade you to get through with bus'ness so that you could
go home and swing In a hammock."
Infringing on IVorann'i Franchise.
Baltimore Sun.
It has been reported that the Pennsylvania Railroad
Company has ordered its employes at the Jersey City Sta
tion '"to stop all persons from exchanging kisses upon the
arrival and" departuro of trains In this station." It this
report is true, tho situation ts serious, and ne may expect
It to grow mors so. There Is no franchise which women
prize mora highly than the right to kiss and be kissed.
Some women wiU swim a creek In the coldest weather to
kiss a friend.
Two neauest for Tonne Men.
The Era.
True to his promise, the venerable poet. Sully Prud
homme, laureate of the Nobel prize, has arranged to award
1.&00 francs unnually to the needy young poets who can
find no vehicle for their verse. This bequest Is an almost
grotesquely pathetic contrast with the 11.500 Cecil Rhodes
sets aside to be used annually to corrupt the youth of this
country Into British teachings. The 1.P00 francs of tho
poet are the earnings of a long life1 of the humaniz ng
ministry of the mind; the tl.000 of Ithodes's desecrating be
qu'St are the sum of untold treasons to human nature:
"blood money" was never so frankly confessed as in this
loathsome bribe to the youth ot this republic to take them
selves to Oxford, to learn the plausibilities of the piracy
the British name civilization.
WRITTEN FOlt TI1K SUNDAY UnPUBUC.
1'ublie interest In railroad consolidations
is aroused at th present time on account
ot the Northern Securities Company and Its
troubles. It seem as though the word con
solidation could only b used in a figura
tive way and not within Its actual mean
ing, for while railroads might arpenr to
consolidate, yet the law gowrnlng such
mergers does not seem to touch them.
Thy irodern railroad combine promoter
j styles Ills trust a "securities company."
and this amalgamation of property has
assumed such proportions as to place all
previous consolidations in tho shade.
As can bo readily realized, the merger
of railroads can be tfl-cttd In various wajs.
and the object of this article is to make
thoso unacquainted with these transactions
more familiar with railroad mergers.
Muimltndo of .Mercer.
In rrevioua ytars railroad combines wero
effected just as frtu.ntly as they are at
the prtser.l time In fact, all th- big sys
tems of to-day operate leased lines, which
means that smaller roads are operated
uiuUr'on management. Hut more of that
later. It was not until the beginning of
our national prosperity that mergers as
sumed the proportions that they have at
tained. In former years the consolidations of
roads operating or ownlr.g 2.W0 or 3 0.O
miles of tnitkage were looked upon with
astonlshmtnt. Now the promoters consol
ldat roads of lo.OoO or lS.uuu miles of line
each with just as much ease and certainly
with mere facility.
Hut tbert is a dilference. The object of
amalgamation at the present is a different
on than it wa twenty years ago. In the
nlntt.es railroad wcie m-rgtd for the rur
pose ol" reaching trade ctnlerw. or tor the
purpose of sei unng business by ixtf nslon
of lines and fctders to strategic points.
They were primarily administered not
geographically each aimed to handle its
own tralllc and to socure a strong position.
These early consolidations also conduced
markedly to economy of operation.
Objects of Consolidation.
The object of merger ct the present day
ia essentially dlffer;nt. Tho country has
betn well equipped with a network of
branch lines and feeders. Most of the
strategic points have been re-iched by a
number of roads In common. There Is no
longer am. object In economy of operation
to be suuVht; in fact, the railroads since
irx) have ten obliged to divide their lint.
Into independent groups for oppratlon sep
arately in order to obtain a maximum of
economy.
The new consolidations arc Intended ex
pressly to obviate competition, and once
rival systems are brought under control, to
Insure harmonious action.
Take the lines between New- York and
Chlca;o. How much competition is there
now as compared with ten year ago?
In fact, it has come to such a stage that
entire systems have been absorbed to sup
ply one small strstch of line, which became
necessary to the absorbing road. This is
best Illustrated by the fact that the entire
Burhntton sjstem had to be absorbed by
the Northwestern transcontinental lines to
secure direct entrance into Chicago; and
the Unien Pacific acquired control of tho
Southern Pacific, not for the pu-pose of ac
quiring the added mileage, but to secure the
Central Pacific, and thus a direct outlet to
the Pacific Coast.
This leads to the conclusion that it may
be cheaper to buy an entire system for th
soke of Its terminals than to parallel al
ready existing rallroids.
Methods of Merprer.
There are four methedn of consolidation,
which may be briefly designated ?s follow.-:
Tirst. actual purchase and absolute owner
ship; second, acquisition by lease: tbi-d.
stockholder control, and fourth, minority
representation In directo-ates.
The first method at all times involves an
expansion in the capita'iiatlon of the par
ent company This at the same time in
volves a perr-anent and fixed charge upon
the earnings of the parent company to th
same d-sree. It crystallizes once and for
nil. apparently, any overcapitnlization of
the absorbed corporations, thereby tendln?
to prevent any further reduction In the
burden imposed upon the shipping public.
On the ether hand, there Is less HkelihooJ
that one property can be "bled" for the
benefit of pr.other.
Not only hi tho case of these recent con
solidations, but In the railroad policy of the
country as a whole, thero may be detected
a tendency toward the actual consolidation
of railroad properties through ownership Sn
fee. This has always bc?n the policy of
certain roads, notably the Chicago, prop
erty from the first, having built Its own
lines and held then. In fee for Itself. The
Atihlson Railroad has recently voted to
rurtlase in fi-e p. number of subsld-ary
properties formerly held under a more elxs
tic tenure. The same policy has been adopt
ed on the Hrie road.
The fundamental objection to consolida
tion by put chase is to be found In the hos
tility of State Legislatures. This has In
many States taken the form of actual pro
hibition of consolidation hi any way In
some Instances, notably in the case of the
Great Northern In Minnesota, it has made
It necessary to develop the system by means
of .ease entirely, rather than by actual pur
chase. Many cases could be cited, but one
more, namely, that in Massachusetts, will
suffice. In that State consolidation la viewed
with disfavor. For this reason the New
York Central had to acquire the Boston
and Albany by lease.
AcqnNltlon bar Leuse.
Acquisition by lease has one marked ad-
The King's Kitchen.
London Society.
We hear that his Majesty will design the mens for each
of the dinners and luncheons that will be given at the tme
af the coronation, both at Buckingham Palace and at
Windsor. The King is a paet master In the creition of
dainty dinners, and It is an open secret that the menu of
the famous Derby Day banquet, which is being eaten this
week for the first lime In the new home of the sovereign,
was always designed by himself.
The King's own dishes are very few, and comparatively
pimple, and he prefers a mutton crop to nil the ortolans or
sweetbreads In the universe. The notion that 'a large
selection of birds is specially cooked In order that, he may
have a good variety to choose from Is purely Imaginative.
It is true of certain royal epicures In European palaces,
but King Edward Is an Englishman, and the pleasures of
the palate are not for him.
The Two Derby Days of 1002.
New Tork Tribune.
While the greatest racing day In the New World
was free from even the slightest taint of scandal, 'thero
has been a great deal of unpleasant talk in England
.about the amazing defeat of Sceptre In the Epsom Derby.
That qccenly filly was an overwhelming favorite for the
most famous race In th.e world. She ran wretchedly and
was unplaced. Ard Patrick, a colt that ehe had absolute
ly romped away from In the Two Thousand Guineas,
romped away from her with astounding ease In the Derby.
It could not have been the rain or the condition of the
course which made Sceptre fall so wofully In the Derby,
because In the same wk. in heavy rain. In weather
similar to that ol Derby Day, she cantered over the line
In The Oaks the easiest of winners. The greatest turf
battle In England In 1502 will always rest under a shadow
ot suspicion. There was no cloud, not even one no
bigger than a man's band, on .America's protest race.
vantage. The transaction Involves no Issua
of new securities, and consequently no op
portunity for an undue Increase of capitali
zation. Tho rental is Used a3 a dividend,
which is a matter of public record. Of
course, where the leases are made for Ions
periods, as In the case of the West Shore
lease to the New Tork Central for 175 vcars,
such a lease practically amounts to entire
consolidation. Hut whTe public supervi
sion is enforced, as in the n cent lease of
the HoMon and Albany in Massa- lrjetts.
the term is exprts--ly lirrit.-d. In this last
case to ninety-eight years. Sui.h a po'.icy
opens the way. const qjenlly, to a i ('adjust
ment of financial and traffic burdrns under
the changed ccnditlons which may prevail
at the expiration of that term.
As illustrative of the progress of absorp
tion by lease, it appears that in 1SS0 fifty
three leading railroads owned and opera' d
directly WCOO miles of line, at the sami
time leasing 13.W0, or about 22 per cent of
the total. In January, Is!!?, theso sam
companies owned KM mil-s and leaded r.U -000.
or about Zl per cent of their milea-;.-.
I'rom this it appears that in general the
tendency toward growth by I'ase has lath
er exceeded that toward actual consocia
tion by purchase, at least until very re
cently. I'urclinse of Cnpltnl Slock.
Tho third method is that of control by
means of the pun.hace of capital st ck.
which is mo-e elastic than either purchaso
or lease. Among the recent consolidations
effected by this means may bo Instanced thi
control of the various, soft-co.il roads by tho
Pennsylvania Uailioad and tho acquisition
of the Southern Pacific system by the
Union racllic Railroad. Such ownership of
the stock or bonds of one railroad by an
other may accomplish either of two objects:
secure corporation control, or serve merely
as an investment. In the latter case, such
stockholding constitutes a convertible sur
plus, offering all the Inducements for In
vestment or speculation which such owner
ship Implies.
The prosperity of 1S32 was characterized
by the ownership of one-quarter of all tho
railroad stock of the country bv the rail
roads themselxes. The disrupting tenden
cies of the oeriod of depres-'.on after 1S33
tended to lessen this control by means of
stockholding and at the eatrie time ren
dered necessary the sacrifice of many bonds
held for Investment, In other words, the
surplus Invested In securities of this kind
had to be drawn upon to maintain dividend
payments. Since Uf.3 an appreciable tenden
cy In favcr of stockholding rather than in
vestment in bonds has been the rule, and
the fiscal ear of IS-)) witnessed an enormous
increase in such Investments by railroads
in their corporate capacity, the Increase
over 1SD0 heinc no less than Kll.000.000.
Minority Ileprenentnllon.
The fourth method Is that of minority
representation In directorates. Many arms
are obviously possible where the control of
one road by another consists In holdings
of a bare majority or even smaller propor
tion of tho stock. The laws of many
States tend to protect the rights of minor
ity stockholders, but the situation is not
entirely satisfactory. Popular host-Ilty to
such absorption Is evinced, for example, by
the bill passed by the Pennsylvania Leg
islature In 1901. requiring railroad compa
nies owning two-thirds of the capital sfck
of a connecting line to purchase tho latter
outright.
Commnnltr of Interest,
But the latest, the' newest and most nov
el method Is that of community of Interest.
This method gives the absrllng road ab
solute control over tho subsidiary roa3,
nnd still it can apparently r.ot be held un
der any known law. The absorbed road Is
perfectly Independent, has Its own officers,
Board.of Directors and 1? operated under Its
own name, but it is tulded by the one hand
which rules the securltii-s company, the so
called Investment company, which techni
cally does not "want" to manage the road,
but which actually does.
However, this method of consolidation Is
too recent and the troubles of the Northern
Securities Company, to which is referred,
have been so man fold that it has not time
to show Its hand. Its objects may vary all
tho way from the entiro elimination of the
disturbing element of a rate-cutting roai to
tho maintenance of harmonious railroad
policy between a number of rivals
P. a KKBCKER.
Better Halves and Others.
Once upon a time, early ope evening, Mr.
Nighthawk called at the house of Mr. Owl.
and, raeetirg Mrs. Owl at the door. Inquired
If her husband was at home.
"Yes." she answered, "ho Is In bed yet.
He Is very tired, for It was long after day
light when he came home this morning, and
I do not want to disturb the good man. He
says he has been very busy lately, and real
ly hasn't been able to get home until long
after his usual time. It is too bad that he
should be so overworked."
"Indeed it is." rep.Ied Mr. Nighthawk. "I
saw him last night, ard know Just how ha:d
he was working, and he would have worked
longer If It hadn't been for his cold feet.
Please tell him that I called, and will help
I him with his work to-night."
"How kind of you," said Mrs. Owl.
Mr. Nighthawk flew away, carrying a
broad smile with him, for he knew that Mr.
Owl was deceiving his trusting wife.
Moral In this world the better halves
don't know how their other halves live.1
She: "You're thr- last man In the world I
would engare myself to."
He: "I hope so."
FROM THE GREAT POETS.
A THING OP BEAUTY.
BT KEATS.
The folIonlrR llres or" tve openlns nnjs of "Endymlon." puL'i'hed In IS'S. when Keats was
3 ears oU. "Enitjmlon" Is the poem which the niackword Mnnaz'.re relw.'r nfsaHcd sa
bltttrlv that the youna ba-d. ts drown his grief. Indulged In copious pctitlins if cliret. When
Kcat died It was mrroid thit he had died of a broken heart, caused bv the attacks of hi tlt
eran, csntors. Ointurrptrtn was. however, the cause of his death, although he suffered much
mental anguish irom bruul cr.tlc'sm.
THING f f beauty Is a Joy forever:
Its loveliness Increases: it will never
Pass Into nothingness; but still will keep
A bouer quiet for us, and a s'.eep
Full of sweet dreams, and health, and qule breathing
Therefore, on every morrow, ate we wrea lr.g
A flowery band to bind us to the earth.
Spite of despondence, of the inhuman dearth
Of noble natures, of the gloomy days.
Of all the unhealthy and o'erdarLcr,ed ways
Made for our searching: yes. In spite of all,
Some shape of beauty moves away the pal"
From our dark spirits. Such the sun. the m on.
'1 rces old and young, sprouting a shady boon
For simple sheep; and such are daffodils
VUth the green world they live In; and clear rills
That for themselves a cooling covert make
'Gainst the hot season; the mldforest brake.
Rich with a sprinkling of fair musk-rose blooms:
And such, too. Is the grandeur of the dooms
We have Imagined for "the mighty dead;
All lovely tales that we have heard or read:
An endless fountain of Immortal drink.
Pouring: unto us from the heaven's brink.
WW!?
STRANGE BUT TRUE TALES
OF TOPSYTURVEYDOM.
WRITTEN FOR TUB SUNDAT KEPCBIJC
Opposite the harbor of Arlca, Peru, bus
several miles inland, 'there rests on an even
keel In the midst of the tropical forest
large, full-rigged ship.
Visitors to the place are naturally sur
prised at its position, and almost Invariably
inquire how It got there. The answer the;
receive, however, does not help allay theb
curiosity, but rather excites It to a higher
pitch; for the native guides have one sett
formula appl'cable to such cases, and this
they rattle off merrily, the while a good-na
turuel grin illumines their normally stolid,
mahogany-colored countenances: "S.ior,
she sall here all by herself one clay many;
years ago."
Impossible as this explanation sounds. It
Is literally true. The name of tho vessel la
question is the Wateree, and on August 12.
1SCS. she was lying quietly at anchor In the
bay opposite the town la question, when a
huge tidal wave, due to some stupendous
submarine seismic upheaval far out in the
rarifie Ocean, lifted her In Its embrace, and
swept her clean across tho town and Its en
virons, finally deposltlrg her high and dry
and practically uninjured, on the spot where
sho now- Is.
Cnrrjlnrr a Cruiser Inland.
Of course, this terrific wave wtped, at the
same time. Arlca off the faco of the earth,
md a similar fate also befell Arequtpa,
lou'que. Tarna. Cher.cha and many other?
, coast towns in Peru and Ecuador: but In n
s nr-Io instance was any other among th
; hurdreds of ships caught preserved In so
j remarkab'e a manner.
j Neverthe'css. the occurrence Is not quite
j tip!iue of Its k'nd At Santa Cruz. In 1S37,
'a tremen ious tidit wnv. i!rtw .!, Am,-f
can rru!sr Monnngahela upon Its crest.
i.-rr..., ner eienn over ttm site of the town
of Frederlehstadt and b-ck again, and this
without Injurlig the ship to anv great ex
tent. Th- receding wave, however, did not
quite conplet Its work satisfactorily It
landed the corvette on the beach Instead of
'n the bay. nnd It cot the United States
Government JSO.0"0 to refloat her
A shin salllns: over what Is ordinarily Arr
, lnid !s certainly a remarkable spectacle,
uiii mr mo-c so man that affordPd by a
rallwav train running upon water. This lat
ter could hav? been seen any day durlni
the winter mcths at I-ake Baikal. In St
ber'a. while the Translberlan Railway was
In progress of construction thereabouts.
Thj ImroTse Inlund fresh-water sa U
, irezen over from November to May. and as
Cnnn . W, I,. . ..
...... ;. m- iu wiia iroru; enousn a regular
track used to be laid down, and the trains
ran backwards and forwards across the
forty mile-, which separate the eastern and,
western shores.
Rniliray Rannlng on Ice.
The effect when eazlne- downwards out
of the carriage windows, was said to hava
been most uncanny. So clear was the lcs
, sheet covering the well-nigh fathomless
; depths below, and so pure the water, that
thousands on th i;sands of salmon and
, other large fish could be plainly seen swlra-
ming about, and the startled traveler was
I almost able to persuade himself that ho
was being borne by some goblin train over
, a phantom ocean Since, however, a regu
i Iar service has been established, passen
gers are spared this experience. Instead of
laylrg a temporary track upon the frozen
surface, huge Icc-breaklng ferries haire
j been built, each one of which Is capable ot
! ti ar.sporlins a completo train across the
' lake.
Among most savage and semlsavage
races, and notably among the Esquimaux
of Greenland and the Todas of the Nell
gherry Hills. In India, the father, and not
the mother, goes to bed when a baby la
born. The husband not only keeps hl
ut-u. am ne is supplier! with possets and
cauiiies. ana receives the condolences an.
tender inquiries of friends and relation
while all the time the mother of the babr
goes about her household duties In tb.9
ordinary way.
While libraries of books have been writ
ten by learned and scientific people to try
and cxpliiin the why and wherefore of this
curious simulation of maternity, but It
t origin Is still shrouded In mystery. AH wa
know fr certain Is that traces of It axe to
be found amongst"" practically all aboriginal
peoples, and that It Is practiced In Its en
tirety among tribes removed as far frora
t one another as the poles are asunder,
i riMh That Fall Upwards.
j Miles down in the abyssraal depths ot
, ocean, amid Icy cold and eternal darkness,
1 dwell the deep-sea fishes, those strange
forms of life whose very existence even
was pracicaily unsuspected prior to the
Challenger's famous voyage. These fishes
are exposed to a risk which no other Ur
ine organism known anything of: that, to
wit, of falling upwards.
Usually the accident overtakes the creat
ure owing to Its voracltv? rnr n th.,..
deep-sea fish are carnlverous. tha stromr
prejing ever on the weaker, even when
iiicse rauer are their own offspring. In Its
struggles to escape, the fish seized, belntf
often nearly as large and strong as tha
attacking fish, carries the latter cut of It3
depth to a higher stratum.
The muscles of neither are strong enouja
to drive them down anin . .h-i- ,..,.
home at the bottom, for both are more or
less exhausted by their exertions; and tha
I result is that both the attacker and tha
attacked are. owing to the distention of tha
, gases with.n their bodies, borne swiftly and
more swiftly upwards to the surface, which
they reach in a dead or dying condition.
Specimens in this state, ruptured and dis
torted with agony, are not Infrequently
picked up; and as. of course. It Is but cora
paratitely few that can by accident fall
, Into the hands of scientists, occurrences oJ
j the kind Indicated must happen very often,
i Some very terrible accidents may be ex
I peeled to befall aerial navigators should
airships ever become sufficiently perfected
I to make this species of travel at all com
mon. owing to the fact, well known to all
i aeronauts, that there exists In the earth's
I atmosphere, at certain places and under
. certain conditions, veritable holes or pits
I of vast depth. An airship sailing nnwlt-
finely Into one of thes-e aerial craters would
, sink with far more certainty and far great
er swiftness than would a leaden ship of
, the same size and shape in aa ocean of
water.
I Holes In ihr Atr.
Accidents of this nature have actually
happened to aeronauts In the past, but. of
course, the ordinary balloon Is not nearly
so much affected by the sudden descent as
an al'shlp would be Nevertheless, an ex
perience of the kind Is sufficiently discon
certing, even to the stoutest hearts and
strorgost nerves.
M. Tlssandlcr, billooning with two friends,
nbive the town of Vlneennes n few vm
back, happened on one of thes- Invisible
air-boles, which proved to be over a m'la
In depth, the nitron falllne; that d'stanca
with such Hcredlblp ranlditv thnt the earth,
npreared to be rushing up to meet them
"''th the speed of an express train, and
ths b-iss of ballast thrown out by tha
alnrme-el travelers fcfl not downwards as
mlrbt have been expected, but upwards.
LurVIIy a denser stratum of air. answering"
to the bottom of the pit In question, was
enrour.tered when thev were a few hundred
feet from the -(found, and the downward
rl'sh of the balloon was chcrked as If by
contact wi'h n pneumatic cushion.
CliRlnocr Wan Aclmst.
Only the other day a Hurmcse contractor,
never having seen a European-built loco
motive or railway carriage, constructed
some, the wheels of which were fitted with
outside flanges The British resident engi
neer was aghast, but. nevertheless, like a
wie man. he decided to try them; and to
,his unbounded surprise he found that tha
new style of wheel would round." without
derailment or locking, curves of a sharp
ness that would infallibly havci caused
wheels with Inside flanges to Jam or jump
tho track.
Again, the Boers, during tha earlier
stages of the present war. when they most
ly fought on the defensive, scattered tha
earth, which they dug out of the trenches
they constructed, behind them. This Is, of
course, exactly the reverse of the custom,
prevailing. Also, In theory. It la Indefen
sible. But In practice It proved a striklns
advance, on the ancient system. For onft
thing their Intrenchments were ejulte Ins
visible, even at a little distance, to the ats.
tacking force; there being, of course, nt
ions ramparts of freshly excavated mold
tf WF--7 their sySersalwutji. .
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