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tvesday. ivjmir.RY s.i. m.
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MONEY IS EASY
IN All BIG
Capital Is Accumulating
Seeking Safe and
New Y..ik, Feb. 23. Mnify is e;y
everywhere. Not only in New York,
but In l'ari. Frankfort and Ilerlin
the tendency of Inten-ft rates Is still
down v. mis. This, of course, is main
ly dm' t the depression prevailing
in coninu rce and industry in all parts
of the world. As a result capital Is
accumulating and diligently king
every form of safe and profitable em
ployment. The effect of this situation
upon the security markets is marked.
In the lirft place, it causes a good de
mand for high grade investments
from conservative Investors and Insti
tution, who have more regard for
preservation of principal than either
dividends or speculative proiits. At
the same time another class of buy
ers, Ik., the general public, continues
to abstain from the market, partly
liccaune the dullness of business .and
diminution ef profits lessens their
purchasing ability, and partly be
cause they recognize that the prices
of average stocks are much to.) high
in view of existing conditions. The in
siders ana big market leaders have
successfully reslste-d any Important
decline thus far, owing to the nbuml
ance of cheap money. There are rea
cons for believing, however, that
those whose policy it was to support
the market and resist natural tend
encles have accumulated all. if not
more than, the stock they desire,
and that fri the absence of buyer
their position is anything but a satis
factory one, notwithstanding their
unquestioned financial strength.
For some months past all the re
sources and skill of the great leaders
tiava iieen concentrated UDon the pur
pose of resisting natural tend
encies. Considering the great shrink
age In railroad traffic, and the un
questioned dullness In business, prices
ought to have undergone a consider
able reaction. Such has been the
course In all previous panics, and it
is difficult to appreciate why the re
sults should be any different now.
There is no doubt the recovery fol
lowing the rebound after the panic
was too violent, having been unduly
stimulated by the inflationary effeot
of cheap money and the powerful co
optration of great financiers. This re
stot&nce to natural reaction was not
confined to the security market; it ex
tended equally into all of the great
Industries under the control of big
Macbln&tlons. It to to be doubted,
therefore, if liquidation has been as
complete as it should have been, In
' order to bring business to really
ound ba-'ls. Kuyers. not only of
stocks, but of commodities, lack con
fidtnee. There Is a universal feeling
that as prices are too high, a reces
slon must follow; and all buyers as
a matter of nelf-interest are preserv
ing a hand-to-mouth policy and ob
stinately refusing every anticipation
of future requirements.
It ia this lack of confidence among
buyers that has much to do with the
present Inertia of business. Nearly
all lines of business today are exceed
Ingly quiet, the only signs of healthy
activity being where ,as, for instance.
In cotton goods, a thorough read
justment has already taken place.
Iron and steel prices are now oemg
reduced to still lower levels, nut
needless to ay, though this has at
tracted many orders, buyers are still
unsettled because action has been de
ferred, and the market has not yet
been sufficiently tested by competi
tion between buyers and sellers.
Moreover, the dullness In trade Is be
ing further aggravated by tariff agi
tation. -While tariff talk does not
lessen the amount of food consumed,
clothes worn or shelter required, still
the uncertainty has a restraining ef
feet upon new ventures and strength
ens the determination of buyers to
preserve a hand-to-mouth policy. No
doubt when the tariff question Is set
tled business will Intdantly take a vig
orous start In consequence of the ac-
.tatinn nf defb.red orders: so
that the total volume of business ove
an extended period will have suffered
little or nothing. During the interval.
however, much hesitation will prevail
and must be endured until the tariff
.iiestlon Is settled. Unfortunately
. . i
the nrosoccts are for a proiongeu uuu
bitter agitation .present inuicauonn
being for a more or less excited s-
- . . , II
a rr T I ' I Y1 0 1' eSt. IISUTIIC n ...-'
mid-summer. Already an unusual
length of time has been given to
hearings on the tariff by the ways
and means committee, and with very
unsatisfactory results. President-elect
Taft is expected to call a special ses
sion of (""'ingress beginning the middle
f March, anil from thence on it Is
o be f erred that the business com
munity will be harassed more man
now by the uncertainty pending re
vision. The tariff has now become
political issue- of supreme import
ance ;too important anil complex to
be settled by any tariff commission,
and capable of adjustment only by
debate and struggle on the floor of
The outlook for the stock market
ontlnues complex. (In the one hand.
we have universal ease in money aiu
prospects of Its continuance until the
,ui turn n in spite of government with
drawals of deposits, gold exports un I
possible Increased demand Incidental
) the first -,.f April. The good inquiry
or bonds and high class stocks is cer
tainly encouraging. London has oeen
larger Investor of American securi
ties than for some time past, and the
general strength of the foreign mar
kets w ill, of c urse, cxer,t a beneficial
Influence here. On the other hand,
the prospects of continued dullness in
trade in the United States, the out
look for irritating tariff discussion
and the fact that neither so-eurlties
nor commodities have yet undergone
an adequate decline all tend to unset
tle confidence In the future of the
stock market. The new administra
tion will shortly be sworn In, and a
reassuring and encouraging message
is confidently expected from Pres
ident-elect Taft. The effect vjf this,
however, can only be temporary, un
less there should be a material
change in other vital conditions. The
natural tendency of prices Is to seek
a more normal level, and the situa
tion wouj dbe benefited by a gradual
readjustment. It is simply a question
of how long artificial resistance, pow
erfully aided by cheap money, can
hold In check natural forces. Tno
market ia auite likely to witness
sharp rallies on uny favorable devel
opments of Importance, but the pr?
vailing tendency must be towards I
lower level until the tariff is settled
and business begins to show signs of
Restoring Jericho, City Destroyed By Noise
w.."" . J .. -H-v ir "l'rinln
ISKNKATH T1IH I.ONO MOUND
MIoYVN IN" T1IK PHOTOGRAPH
1.1 ICS TI1K ANCIENT CITY OF
Will Jericho be rebuilt? They ask
the question in the Holy Land, in
The walls of Jericho, which fell be
fore the Israelite forces at the blast
of a ram's horn after processions of
priests and people marched around
them dally for seven days, are be
ing uncovered by German nrchcolo
gists. Joshua, the Israelite leader, pro
nounced a curse on the city after Its
full, and invoked the curse of (lod
on the man who should rebuild It.
Twice has this curse been defied,
once in the days of King Ahab, and
again under the llcrods, during the
Roman occupation. 'lint In both oases
destruction followed fast on the heels
of the haunted city.
Since tho time nf Kinperor Ves
pasian it has lain hidden and for
gotten tinder a plateau of shifting
sand. The (ieiman scientists, under
the directum of Prof. Sellin and Prof.
Wxtsilnger of Kerlln, are making the
third attempt to restore it.
Cray bearded rabbis and the wiBe
men of Israel watch the progress of
the excacntions with Interest. The
work Is half done. Will the Lord
allow it to be finished?
As excavated and restored so far
tlie walls of the old city are shown
to be of remarkable thickness and
ftrength. Over a foundation of nat
ural rock was placed a filling of fine
gravel, on this was built a sloping
AnisMnzJAR t V 'Yr i4
Your printed matter is
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IP IT I In itS BOA
Of the Right Sort
ON THH hKFT, SAM PLUS OF POTTKRY TAKEN OUT OP TfJE
RflNS OK JKUICIIO. ON THK UIOHT, PHOTOGRAPH OP EXCAVA
TION WHICH IS UNCOVERING Til I-, WALLS OF THE ORIGINAL CITY.
ubble wall twenty feet high and
For 'That Terrible Itching.
Eczema, tetter and salt rheum keep
their victims in perpetual torment
The application of Chamberlain's
Salve wUl instantly allay this itching,
and many cades have been cured by
Its use. For sale by all druggists.
Want ads printed
In the Citizen
GORGEOUS GOWNS FROM GAY PAREE
-f ":i 1 ltsfS? i fei ':.
s ven feet thick. Crowning this was
the actual fortifications in clay brick.
In the ruins of the dry has been
found much old pottery which is of
interest to the archeologists. Much
of this is old Judaic in'orlgln. From
later Investigations it Is 'hoped to
classify more of It, shether Canan
ite, Israelite or Jewish. Other pot
tery with the mark of Rhodes, and
with Aramtc inscriptions, as well as
terra cotta work, has been found.
The destruction of Jericho by
Joshua, as told in the Bible, is dated
back to 1451 B. C. . It was rebuilt
by Hiel, a general of Ahab's, in 1918
B. C, and destroyed again by pinion,
a Roman general. Restored under
Herod, it fell again before the sword
of Vespasian, and has remained lost
WAS A FIGHTER
BUT HE ALSO
Genial Side of Our Many sid
ed. Retiring President,
Must Not Be Overlooked.
and chuckled, and I had a "tip", of
some considerable Importance.
In the writings of Roosevelt the
render will seek in vain for anything
not serious. And yet the author does
not tako his literary activities with
entire seriousness. He has a little
Joke on himself In this connection. It
comes about when visitors not as well
versed as they might be, hear Heme
anecdote or incident which strikes
them of peculiar interest, and they
"You ought to write that, Mr.
Roosevelt. That really ought to oe
"It is." the president responll.
"You will find it in my books.
When solemn people and occasions
are interrupted by events not solemn,
the results amuMe. Such an event was
a cabinet meeting at which Kermlt
Roosevelt entered with a king snake
and several snakes of other sort
crawling from, his sleeves. Attorney
General lionuparte left his chair with
more haste than dignity, and other
members of the cabinet expressed
thoir nervous disapproval. The presl
dent tried to keep a solemn face on
this occasion, but hardly with suo-
Roosevelt Is not always "talking
shop." He loves a j.ike and cravws
fo be amused. He is quick to see and
keen to take the point. Sometimes
hi conversation runs to anecdote and
he tells a story to illustrate his point.
Such at times are drawn from that
vigorous life when he was a rancher
In the west. 1 recall one time when
he was discussing the opposition to
..I.... . . ....... I .V... fln..l uvrtim.-) Itl.
.hie iiiiii, lu n,i,v, im ntuuiiu n. .
Washington, D. C. Feb. i3. Theve
Is a genial and a humorous side t
Roosevelt which, as he is leaving the
White House, muijt not be omitted
from the records. Much has been told
of his aggressiveness; much of his
savage fighting qualities; a great deal
of his serious activities bodily and
mental. 'Less is known, perhaps, of
the man who laiiRhs who tells or
sees a joke.
And yet Roonevelt hu that side. I
trust I may be pardoned if I relate
a matter of some intimacy, Just to Il
lustrate. 1 was seuing the president by ap
pointment at the famous "shaving ; world.
hour." As is well known this occurs) "Go?" .said he. "Will they go?
between the morning rush of work That reminds me of an Incident at an
and the hour for lunch. In the little election held in A very small und very
U luvaganc is
rl"t than ever In the latest produc
tion "f the fanciful French dress
maker. Old style? of by-gone periods are
ideulized ami coupled in rich bro
cades. Clouds of cobwebby laces lor
which old Kitig Solomon could not
ti:ive afforded the price, are becom
iiik the every day habllamenU of the
exotic Parish nne.
l- hm i rs if gold and silver, and ln-
i us-.itii ns nf pearls and other gems
lire rt uj'i'i) many of the new
sown-'. Tile costumes designed by
Mainline Ijiicrolx, which are here
with pieturcd. show the trend of ex-
wilder I An ironical accessory of toilet to
accompany such fabulous gowning is
the "Alms bag," without which the
lady of fashion does not consider her
heir dressed at all.
The alms bag traces Its ances
try back to the leathern sacks worn
by the strolling monks in the eleventh
c ntury. Its more recent forerun
pers were th? receptacles In which
great ladles of the old days carried
alms for beggars.
In reality the "alms bag" Is worn
not for sweet charity's suko, but be
cause it harmonises with the medle
val splendor of the costumes being
affected better than an up to date
chopping bag or chatelaine.
room between the office of the prel
dent and that of his secretary is a big
leuther chair. Ordinarily used for
aiting visitors this is converted into
tonsorlal throne between 12:30 and
:30, and the Fklllful Iaucy does the
trick. In the economy of time the
hour is used for appointments of the
m formal character.
On this particular day the windup
of the conference was enlivened by
the urrlval of Secretary Taft.
I have been trying to discover," 1
saUl to Mr. Taft, "whether the presi
dent intends tj take part in the presi-
ntial campaign of 1908."
Up to this ,time no intimation haJ
been given to tlie important thing
which subsequently happened.
Secretary Taft sat up, and there
was an Interested iwinKie in nw eye.
"As to that.:" the president repllel
1 i-an only say that I hope to see
some good man win. To that end of
course, 1 shall di my part."
And I was wondering as to wheth
er thei, might be any ideas in your
mini! as tu who that wml man i.s?"
"I am for one g.md man," the
president went on. 'Any good man.
who till- the i enuirenients of the
pl.ice. he Held is open--"
I w.is i.. --teniiig with both ears.
"Any man wilt be suitable to nie,
providing only well, providing that
lie be a man of substantial weight---
say sou pounds; inai ne ut. a. giaini
ate of Yale ay of tlie class of "78;
that he be expi rli need In public life
say as civil governor of the Philip
pines; that he be of Judicial temper
ament and trulnlng as If he had
been a Judge of one of our federal
circuit courts; that he he trained In
administering our great Panama cun
al; that he have had experience an
secretary of war, and, In his religious
views that he be a Unitarian any
man suits me, so that he meet re
quirements of thi kind."
It was ilroll. The president never
cracked a smile. The secretary ml
rugged settlement in our far west.
Tim bos, who was also the sheriff,
had given orders that no member of
the opopsing faction be permitted to
cast a ballot. lurlng most of the
day the order went. Hut there was
one man mo' daring than the rest
and he j-tepped up and offered a bal
lot of the offensive kind. The sheriff
landed on the offender's Jaw, and the
victim went to earth. After a pause
an admiring spectator spoke: 'Say,
sheriff, but that cus went down."
Went down?' drawled the sheriff. 'I
guess if he hadn't after what I hand
ed him I d a' gone around behind to
see what the hell was holdin' of him
The point of the story was not lost.
The fleet went.
Rut Roosevelt will be remembered
for his strenuous, active, pugnacious.
versatile personality. These are what
have occupied the public stage. The
other'side is known only to those who
have seen behind the veil.
I think the man has changed. He
i.s not less strong. He Is not bitter.
He is not tired. He does not lack
in hope. But there are lines in h'e
face which were not there when first
1 saw him seven years ago. They are
the lines which coma to him who
fights. Roosevelt has fought. He has
fouglit on that side where only the
great and truly patriotic can take
their stand the people's side. He
has stood up beneath a rain of calum
ny and hatred, dealing and receiving
blows. Some of the enemies' shafts
have hurt. The daily clever calumny
the poisonous He spread and spread
and spread handed dally to the pub
lic in the organs catering to the in
terests of class and privilege ome
have doubtless found their mark.
Rut he Is game. Not the most inti
mate of his friends ever heard him
whine. If his dearest friend if the
man who owes him most should
turn upon and sell him out him and
all his friends and political acquisi
tions and by treachery deliver them
Into the hands of his enemies even
then I think Roosevelt would take
the wound like the soldier who has
been hurt and taken prisoner by the
enemy. If the capture was to be the
enit he would take it bravely. But
until the end he would watch for a
chance to get away and make the
And in spite of all Roosevelt W a
To. one of those whom tlie outgoing
president has found not Just of the
time-serving pack, he recently re
marked: "You are one of six who will
remember me thirty days from now."
To one who had suggested that he
had made a record which would have
Its place In history he said: "Ne. It
W Just a decent administration. That
is all. 1 have been loyal to those
friends of ILIncoln, the plain people.
But that Is a'l."
Rut It is not all. After seven years
of dally vlsitlngs at tlie White House,
seeing much of men and things and
from the point of view of confidence
and- nearness. I ara Inclined to think
the stature of tni president Is second
only to that of that great model
which he loves Lincoln.
He is a great man, and one like
wise to be loved.
Soldier Balks lHath riot.
It seemed to J. A. Stone, a Civil
war veteran, of Kemp, Texas, that a
plot existed between a desperate lung
trouble and the grave to cause his
death. "I contracted a stubborn
cold," he writes, "that developed a
cough that stuck to me, in spite of
all remedies, for years. My weight
ran down to 130 pounds. Then I
began to use Dr. King's New Discov
ery, which restored my health com
pletely. I now weigh 178 pounds."
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