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STEEL AND WIRE CHANGES.
IMPORTANT PROPOSITIONS TO COME BEFORE THE STOCKHOLDERS' ANNUAL MEETING- The stockholders of the AmeHcan Steel and VIM Crmpary of New-Jer#er at their annual Ike corporation, of appears ir<. pass upon CC r the "operation. « hM>r, sent to stockholders „ circular, which has been sent w the secretary of the company: V'ir' ■ r,H Vcrire Company or New- The American Steel and *';; arv Rookery Bulld j«. r> . • of the secrc . •ing. Chicago, IK- January ». HOG. to the -t^KhoHer, of the A^can Steel and WIN Company <« ■" J h<! ..upholders of the The »imiß! J BW r,' n (r», r l company of New-Jersey American Steel and «£ ofthe company. No. 63 will ie held «• the once ™ clt , ln th( , State Graadxt* Jn Jf/Tueedav February a 1900. at 11 cf Xetr-Jerw. « ££"£&«,» of electing five di oTSock a. c-vjor ii hh * PPoseP h ose terms of office have r bustneee a* may be expired sr.d for «"ti'on of the stockholders. submitted •/• r .' 2 L r not"fled that there will be sub 1 ot: «re further notinea in nrtr ac£lon certain ns!Tte<s to the ««*J|?J <I " tn( . certificate of in proposed « xser f < l™''"i%J r -tated and for that pur earporation a» h ; r T?^tock holers so to be field pOf^ '"' fJT^"f<-<» ■• 11 o'clock a. m . at the place on February f^ 10 . • V been directed by the Board Sf ls^to« o" this company to be held, also as a , S^gaS»ia*a upon neb «P*^*L, n^ 1 r1 in ,. F Directors to be advisable, and * r pv*»nec' conferring upon this company in SS^SSSESS%Kf?S?^ all reject, all respects ti^o7n2«* a t buvir.fr. acquiring, filing:, operat ... •_.-.-.. and m•• of products of every in and carry on the business ng. basing and operat . ndred busl .^^liSlll^e^^eratl^ leasing and operating ■SmshiDS and other method!" of water transporta- PKd "as* and all business incident to and con 11 F^-£ W Kir«ntee the payment of and as •ume the obligations of other corporations, persons Bn Flffh-T-. redeem, retire or otherwise acquire and car£l the preferred stock of this company as by the laws of the State of New-Jersey provided and have the Board of Directors fix the workinc capital of this company in conformity with th/preient bylaw? of the company. Sevenih-To hare the Board of Directors elect an Fxecutrve Committee possessing the powers of the Board in conformity with the present bylaws of wJSh-Tn have the Board of Directors enabled to declare and pay dividends on the common stock of the company quarterly out of the surplus or net earnings of the current dividend year during- such rarest dividend years. By order of the Board of Directors. 1 C. S. ROBERTS. Secretary. 5 From these suggested amendments it would appear that the Steel and Wire Company is •planning to broaden its field of operations. By the first three amendments giving- it power to engage in mining and to operate railways and steamships, it puts itself in line with the Fed era! Steel Company, the National Steel Com pany and the American Tin Plate Company. §The fourth amendment seems to look to a po«» ilfcie consolidation of the Steel and "Wire Com pany with some other corporation. Amendment No. 6, relating to the working capital, apparent ly has beer, suggested by the Bimilar provision of the Federal Steel Company's charter, and the seventh and eighth amendments bear a re semblance to features of .ice Tin Plate Com pany* charter. SBy an amendment passed last year to the Corporations act of New-Jersey, errors or omis sions m the certificate of organization of a cor poration may be corrected by a two-thirds vote of all the stockholders, at a meeting called by the Board of Directors, so that most of the pro posed changes may be effected by the action of the stockholders on February 20. But it is doubted whether the fifth amendment propos ing to redeem, retire or otherwise to acquire and cancel the preferred stock of the company ran lawfully be made operative. By the certificate of incorporation of the Steel and Wire Company I Its preferred stock is entitled to a 7 per cent. 1 cumulative dividend. The retirement of the pre ferred stock would necessarily involve the cut ting off entirely of the dividend heretofore pay able upon that class of stock, and there Is good authority for the opinion that- the preferred stock of the company cannot be redeemed with out the unanimous assent of the holders of Mich stock. A recent case bearing upon this point is found in 42 Atlantic Reporter, de cided in February, 1896, when Vice-Chancellor Emery, in granting the application for an in junction In the action of Pronik against the Spirits DisvlUi&K Company, said: la my Judgment these general powers of amend ment of the certificate, which originally fixed the relation between the stockholders Inter sese, do not confer rb«- power cf altering the previous contract cf the company itself with the stockholders as to the rate of dividend paying which was created by a nock certificate or contract of the company which was required by the statute to express this rate of dividend, and which reserved no power in DM company to change. Such alteration would im pa.r _ the obligation of the contract created by the ■rock certificate issued under the company's charter. The American Steel and Wire Company of New-Jersey was incorporated at Trenton on January 13. 1880, with a capital of $40,000.0<X> / VfJ cent cumulative preferred stock and $50, •*•» common stock. It succeeded the Ameri ican Steel and Wire Company, an Illinois cor poration, the capital of which was $24,000,000, equally divided between preferred and common ■tcck. On the organization of the New-Jersey corporation, with its 190.000,000 capital a syn dicate which had furnished $28,000,000 cash to tr.e new company received £28,000.000 of the new preferred stock, and also, it Is said, a large amount of the new common stock. The recent declaration of a 7 per cent dividend on the com mon was taken by Wall Street to mean that the of this city, who took a leading part jr. the financing- of the American Steel and Wire Company of New-Jersey, and who last June un ■nray ursed the declaration of a dividend on the common stock, are now in control of the company which ha heretofore been dominated c* Jcim W. Gates and his Western associates MR. CAMXBWE FATORB SUBSIDIES. THINKS THAT CNDEB CEETAI.%- CONDITION* THE! VTOVU3 be WISE. In reply to a letter of Alexander R. Smith, ask -ng tvs views on the pending shipping bill. Andrew Caniegie wrote the following: H« for a short fft— l of fd ta suocldies for steamahip line* Che chief o! - <n V xports lies - -::h regular sail of the essential >re handicapped ■ ~m V the proposed bill . . mo«: favors cheap freight port/Ye' SS£ra£ r "*S of I^- As far as ex voyage is no'hiSr* a ay or two more on the orSS^f ? ay bf - n '«^«d for the It according •: time of * I ( sub mnney very »• - .." ; .- *• ' - : '- ;• diffle iM ta say -;d rw a- wit^h- S p en f »• this - time few ■ - forri^«thi m fn ls .. her / ubs:(I1 « ••compensation •mpensation SUV r ! t 3 ui "menta." It might be "* 10 c °aforni to that nomenclature. fire fiT WASBIXGTOX SQUARE EOCSE. af JH^IHZ ** <-**' on th * toP aoor - fcrW nory «w»n«toM house of Mrs. Albert "I've tost my reputation." — Cdssio, not Maryland Club. Maryland Blub m m had established its reputation when men now old were boys. Unlike Shakespeare's Cassio, it has never lost its reputation "—easy to do if it dropped ever so little from the standard in age, purity, flavor, mellowness, or any of the excellencies which characterize the best Whiskey. You know it is old, because it tastes old. arEKYw^tzxx ! CAHN, BELT & CO., Baltimore, Md. ■ .• Shattuck. daughter of ex-Mayor Strong, at No. 13 Washington Square North. The blase was dls ?hrSSSe%l arn r r u-^To at^6. rUt "-*«ssrs WOULD XOT HAVE CARROT L APPLICATION FOR RECEIVERSHIP SUD DENLY WITHDRAWN. ST-RPRISINGLY QVXCK CHANGE OF POLICY IN BROOKLYN' WHARF AND WARE HOUSE COMPANY CASE. John F. Carroll, the Tammany deputy boss, got B pnod appointment and a bad disappointment within the snme hour yesterday. Justice Fitzgerald named him for a rich receivership. Neither of the litigants had asked for Mr. Carrolis servicws, and a? Koon as he was appointed they speedily decided that they did not want a receiver at all. They therefore withdraw the salt, and Mr. Carroll lost the prlz<? that was almost within his grasp. Su<h a quick change of the entire policy of handling n great property was probably never witnessed be fore. The lawyers on both sides declare that they had no personal objections to Mr. Carroll, but ad mit that they did not ask for him. They did want Hugh J. Grant for receiver, but Justice Fitzgerald cbose Carroll. This interesting situation was brought about through an ex parte application made yesterday by Julien T. Davios. of Davies, Stone & Auerbach. counsel for the United States Mortgage and Trust to Justice Fitzgerald, in the Supreme Court, for a receiver for the Brooklyn Wharf and Warehouse Company, which ha? defaulted in the payment of interest on its bonds. The United States Mortgage and Trust Company Is the trustee for the first mortgage bondholders. John M. Bow ers of Bowers A Sands, counsel for the Brooklyn Wharf and Warehouse' Company, acquiesced In the application for a receiver, and both sides united in asking .In-nice Fitzgerald to appoint Hugh J. Grant. At 11:30 o'clock Justice Fitzgerald signed the order for a receivership, appointing John F. Carroll and directing him to file a bond of $100,000 for the falth fu! discharge of his duties. Almost before the ink was dry on the paper the lawyer? had decided that there were other ways of settling the case than by a receivership. The suit was forthwith discontinued by consent of all con cerned. The lawyers aga.ii. appeared before Justice Fitzgerald and presented to him an order to that effect. The Justice tigned it, ar.d Mr. Carroll lost his receivership. Later in the day Mr. Davies said: The mortgagees and trustees have decided to take possession of the property as mortgagees and trustees. Tnis they are allowed to do under the terms of the mortgage. The following statement of the case was issued last night: The Brooklyn Wharf and Warehouse Company defaulted in the payment of the interest on $17,500. 000 of Its first mortgage bonds, which were due and payable on the first day of February. It appears that the affairs of the company have been in an unsatisfactory condition for more than a year past. The company not only defaulted upon the payment of its interest, but defaulted upon the payment of Its taxes in October, 1806. and also on the first day of February defaulted in the payment of rent on the Erie Basin an.] important leasehold property belonging to the company. Thereupon the United States Mortgage and Trust Company, being the trustee .for the first mortgage bondholders, instituted its action to foreclose the mortgage, and conferred vifh the officers of the Brooklyn "Wharf end Warehouse Company as to the propriety of placing Its affairs In the 'hands of a receiver on motion of the trustee. This re sulted in a report by the Executive Committee of the Brooklyn Wharf and Warehouse Company that its affairs were in such a condition that it was wise and proper to consent to the appointment of such a receiver and permit him to manage the property until a reorganization could be had, and the com pany, by resolution duly adopted. Instructed Its counsel, !It-*.<-rs. Bowers & Sands, to join in the application for the appointment of a proper person as receiver. A first mortgage bondholders' committee was Im mediately formed, consisting of representatives from the Central Trust Company, of New-York; the Mutual Life Insurance Company, of New-York, and the Guaranty Trust Company, of New-York, and $B,ooo.'>Xj of bonds were immediately deposited. Then the United States Mortgage and Trust Com pany Instituted its action for foreclosure and asked for the appointment of a receitvr. and Julien T. Davies, of Di v>s. Stone & Auerbr eh. TiVde an ex-parte application yesterday to Judge Fitzgerald for the appointment of a receiver. This was acqui esced in by Mr. Bowerp, of Bowers & Sands, as counsel for the Brooklyn Wharf and Warehouse Company, and by A. H. Joline, acting aa counsel for the United States Mortgage and Trust Com pany, but beins: also the counsel for the first mort gage bondholders' committee. These three gentle men then requested Judge Fitzgerald to appoint ex-Mayor Hugh J. Grant receiver. Mr. Grant was asked more than a year ago by the representatives of a majority interest of the mecurities of the Brooklyn Wharf and Warehouse Company to he come its president, and declined to take the ap pointment, and all inter»-»rn desired that he should be appointed the receiver to maintain and preserve the property until a reorganization could be cam pleted. The Court did not act upon the matter at the time, but this morning signed the order pre sented, naming, however, as receiver John F Car roll. Immediately thereafter Mr. I>avies and Mr. Joline again appeared before Judge Fitzgerald and presented to him an order discontinuing the action, which was signed, and the action Is now at an end. The company was Incorporated on January 21, 1896. with a capital stock of J12.500.000. It owns 265 warehouses, covering about two and three-quarter miles of the Brooklyn water front ar.J controls the lighterage business of this harbor, giving em ployment to a large number of me 1. CHILD'S IS. JURIES MAT BE FATAL. RUN DOWN BY A HORSE AND WAGON WHILE AT PLAT. A group of little girls was enjoying the Saturday holiday yesterday afternoon In front of No. 411 West Flfty-flrst-si.. when a horse and wagon wa? driv«n among them, and one of their number wa.= run down by tne horse and run over by the I She is Katie. Maner, nine years old, of No. 4.T7 Weal Forty-sixth-st.. a favorite in school, at play and in her home. It If. feared that she will not live-. Her body is severely bruised and she suffers internal in juries. The children had become absorbed In a discussion of two games and failed to notice a horse and wagon coming down thf- street. They were ov.neii by the Century Express Company and were in charge of William J. Powers, of No. 168 Weat One hundred -a nd-slx teen th -st. Suddenly one ot the girls discovered the horse al most upon them. She shrieked with fear. Katie cried out, too. but her cry was one of anguish and pain, for the cruel hoof of the horse had struck her in the back and she had fallen to the ground. The horse kept on, though Powers was puiling him in with all his might. The forward wheel of one side of the wagon rolled over the little girl's body. The driver lfaped out of his wagon and up the bleeding girl and carried he- t . 1 drug store. Policeman Conmy sent for an ambulance, and thr injured child was taken away. Powers was ar rested. TBE VMAmB-SMJtm COWTEST. The Assembly committee which is investigating the contest of Thomas J. McManus for the seat of Assemblyman Smith, of the XVth District, had a session of two hours yesterday at the Hotel Cadil lac. All the time was spent In listening to the rep resentative o f . the County Ckrrk reading to the stenographer for the record the returns made by the Board of County Canvassers of the vote cast In the different election districts. Counsel for McManus said it was necessary to get rhe testimony on the record in order to lay the foundation for the farts he intends to prove. He did not say what thoae particular facts were. The committee will resume the hearing to-raorrow at 10 a. m. XEYV-YOBK DAILY TRIBUNE, SUXDAY. FEBRUARY 1 1900. HARD WORK THE KEYSTONE. ox it srrrEss depends, bays Robert C OGDEN. AN INTERESTING ADDREBB DELIVERED AT THE ANNUAL DINNER OF COM MERCTAL TEACHERS. The third annual dinner of the New-York Caea mercial Teachers' Association was held last nipht at the St. Deni? Hotel. Although the association, which Is made up of the toachers employed In the commercial colleßos. in comparatively voting. It is In a flourishing condition and its membership in cludes teachers from several States. Laal nijEhfs dinner was attended by a large num ber of members of both sexes. It was pi over by James Rea. the presldrnr of the association, and among the guests present were Robert C. Ogden, executive head of Wanamaker'a: J. L. N. Hunt. Assistant Superintendent of Public Schools of Ma it hartal and The Bronx; Frank Bergen, of Elizabeth. N. J. ; Henry C. Wright, and H. G. Bealay. principal of the Long: Island Business Col lege. The officers of the association, most of whom were present, arc- Charles M. Miller, first vice-presi dent; r. c. Games. second vice-president: A. J. G'eason, secretary; C. D. Clarkson. treasurer; W. B. Drake, C. Cla»?horn. Byron Horton, William C. Ramsdel!. C. F. Sherman. L. M. Thornburg. W. C. Sandy, N. p. H^ffloj ami L. C. Horton. After a brief address of welcome from Mr. Ren J L. N. Hunt was introduced as the first regular speaker of the evening. Mr. Hunt remarked that the education given to scholars in the commercial colleges was not altogether sufficient for modern needs, for the reason that the scope of subjects taught was somf hat limited. The city. Mr. Hunt went on to say. had determined to open a commer cial htirh school, which would be an institution of commercial learning In the full meaning of the •lorm. instancing some of the branches of educa tion that ought to be taught to the commercial student, the speaker pointed to transportation and a knowledge of the way in which railroads were conducted. The resources of every country In ex :;id imports, how banks and other financial institutions were managed, the principal ports of every country, and numerous other subjects which Mr. Hunt mentioned arid explained, were necessary to a proper commercial education. Robert C. Ogden. speaking on the subject of "The Daily Demands of a Business Office," said. amon>? other things: NEED OF HARD WORKERS. We want people in our offices and establishments who are conscientious and who are willing to work. No man or woman In the practical world of to-day could hope to get on if they shirked their work. We want people with alert minds. Some of the modern young men seem to know more- about base ball and sports than about practical things, and show a lack of that intense interest they should have in the practical side of life. My experience of many young men is something like' that of the Dean of Ely Cathedral. When he was in this country a short time ago he related this story: "I had a young man from Oxford come to me once to be examined for holy orders. He told me he was an athletic man. a rowing man. you know. I began to put some questions to him about theology, and asked him how many there were in the Trinity. He replied, "Oh. eight men and a coxswain.' " And so It is everywhere. Young men are thinking so much of sports and pleasures thai they cannot tret serious and earnest ideas into their minds. and if we could only rub that heresy out of their minds that the worjrl owe* a living to them, how beneficial it would be to them. I have heard that fallacy expressed constantly for the last fifty years, and some of the men who have told me that the world owes a living- to them are now lament able failure? in life. Therefore I ask you to use all your power and influence to rub that heresy from the minds of those whom you teach and instil In place of It the truth that the man owes work to the world, while the world does not owe anything. SOME INEFFICIENCIES. It has been my aim always to give to the people employed in the establishment with which I am associated some practical instruction. It is my highest ambition that the men and women who have worked In the establishment I have referred to shall be worth more in the market because they have been there, so that when any one else wants their sprvicps they will employ them at a higher salary because they have been in our place. It Is my ambition to feel that to some extent they have been through a kind of commercial university. It is lamentable how frreat is the inefficiency of some people. Plain writing and good English are two points I lecture my people on ad nauseam. I do not want an invoice to t;o out whi the man to tvhom it is sent cannot read. Only a f> tv days go a woman, well known in this city, wrote to me that she had received a statement from my firm, but she was unable to make out the mer chandise described in the statement, and that until she kne-n- she could not settle her account. It is a fact that in the houses here and In Philadelphia with whi^h I am •-•«=*o"iated It costs J25.000 a year tn ecrreet errors arising from the cause I have mentioned. And then this matter of stenographers. Oh. what unhappy times w« have with them! They come ami fro. and our experience is like the story told by Judge Howland of the man who married a third time and was an Illustration of the triumph of hope over experience. Mr. Ogrden proceeded to describe the carelessness frequently displayed by stenographers in the matter of punctuation and spelling, and cloned by saying that what was wanted by every business house ■was people of thoroughness and accuracy— people, in fact, who would not weary the brains of em ployers in constantly struggling with lncompetency. Henry C. Wright. Who was one of the succeed ing speakers, took occasion to rebuke the assertion recently made by a revivalist in Brooklyn regard ing- women stenographers. Mr. Wright branded this ns false, aril added that from his knowledge of careers of youngr women after leaving- his collejre he knew that the Brooklyn revivalist did not know what he was talking about. Frank Bergen and H. G. Healey also spoke. A BILL TO GUARD JUDGES. PROVIDES THAT THEY SHALL SPEND NO MONEY FOR ELECTION PURPOSES. Albany, Feb. 3 (Special).— Assemblyman Davis, of Mew-York, will Introduce a bill on Monday nlgrht prohibiting Judicial officers and candi dates for Judicial office from contributing money for election purpose?. The measure was drawn up at the request of the City Club of New- York According to Its provisions, no person who is a candidate for nomination or for elec tln or appointment to a judicial office shall pay directly or indirectly toward the expenses Incurred in obtaining such an office. He shall not even induce any other person to subscribe or contribute to this end. nor shall he pay the expenses of any other candidate for any office. No person holding a Judicial office within this State, the bill says, shall subscribe to the ex penses incurred in his re-election or in the nomination or election of any other person. The penalty for any such offence is forfeiture of | office. The measure, therefore, as now formulated j prohibits any contributions whatsoever. In the i brief submitted by the City Club, however, there ' was a provision that the contributions should not exceed $100. This amount, it was said, would not put the judge under a demoralizing obligation to those who helped him obtain his office, but would only be a Just recompense for i legitimate assistance. In formulating the bill, | however. Mr. Davis consulted several Jurists, j amen? whom may be mentioned Judge Lincoln, i It was their opinion that there should be no op- ; portunity granted whatever for political sub- ; scriptions. Such a provision would practically ; nullify the act. For example, a candidate might . give to different persons small sums, no one of j which might exceed ?100, but whose sum total j it wouid be impossible to ascertain. In other ; words, such a provision might prove a cloak for the offence which it waa intended to prevent. The substance of this bill was embodied in j one of those sections of the majority report of the Mazet Committee which were stricken out before the report was made public. Considera- | ble dispute arose, it is said, between different members of the committee as to the advisability of favoring an -abolition of such contributions. Mr. Costello, or Oawego County, opposed the provision most vigorously. It had first been in corporated in the report because it had been ' found during the sessions of th» committee that several Justices in New-Xork City had con tributed sums aggregating thousands of dollars to pay" the expenses of political committees. HELP FOR BRITISH SOLDIERS WIDOWS. The benefit performance given in Carnegie Lyce um Friday night for the assistance of the wives and ! children of the British soldiers now in South Africa ! who may be in need, and the widows, netted about ' •so The affair was managed by Mortimer • Kap- j him and J. M. Foote. The performance consisted nt vaudeville specialties. It was given again last , nicht. X!«» Marjoiic Dawaon, the treasurer. : said ,'*' expected to ••« both evenings net %"*C She Vi:: tend th« money to tee Mtmlos Ksuse Fund, , lonian. «_- — — — ► . — ;' I ART EXHIBITIONS. THE AMERICAN WATER COLOR SOCIETY. The old building of the Academy of Design, in which for so many years the exhibitions of the American Water Color Society were held, had ad vantages and some disadvantages for that or ganization. It w»s always possible for the Com mittee on Decorations to make a fine effect; there was abundant space and there was good light On the other hand, the jury of selection and the Hanging Committee were always confronted by a deplorable temptation. With so many walls to cover they found it altogether too easy to accept : and hang four hundred or five hundred pictures, sometimes more. The result was not invariably , cheering. Now the Academy's building Is unavail j able for the purposes of the society, and quarters moderate in size have been temporarily obtained at , the Waldorf-Astoria Instead. This has been good for the exhibition, restricting it to not more than two hundred and fifty water colors. These, ar ranged In one large »nd one small room, against a background of plain burlap, form a collection I that is intrinsically good, and that to furthermore i attractive because one may examine it from be | ginning to end without fatigue Exhibitions can never be too ruthlessly cut down In scale. Wher ever the society may make Its public appearances in the future, it to to be hoped that the policy of restraint exemplified this year may be maintained. On the threshold of the show the thing that ar rests attention Is not on» good painting, but the comparison that two immediately invite. Mr Al bert Sterner made them both. Th( Bowl of Oranges" to a respectable figure piece, delightful ; in aim. but in the execution leaving much to be de sired. The color is muddy/the drawing is fumbled. Hanging only a few feet away is Mr Sterner's The Blizzard." a water colar both veracious and ; beautiful. This artist draws the figure so often j with so much ability that no one could wish him to abandon It. But "The Blizzard" suggests that In him we have a landscape painter of hitherto un known capacities. He might do worse than follow up the success achieved In this piece of work. There are. by the way. several other good winter scenes-Mr, C. M. Your,** "Morning After Snow." Ochtman's "Early V.'inter in Connecticut," Mr. Palmer's "The Fairy Pool" and the "Blixzkrd in Washington. D. C." by Mr. Walter Paris, this last named artist being, we believe, a new contributor. Mr Paris will be welcomed again. He has an un mistakable gift, especially for the treatment of atmospheric effects. His picture and Mr. Sterner's Blizzard deserve to be hnng together in a place of honor. But we forget the admirable limitations of apace, which really make all the good pictures near neighbors, thus Involving no invidious dis tinctions as to position. The Hanging Committee has not found it difficult to be kind to everybody. Mr. J. G. Brown's familiar bootblack reappears in •Dreamers." wherein he to accompanied by a small cog, whose intelligent expression doubtless deserves comment, though we prefer to lay stress upon the remarkably good technique in the portrayal of the animal. Other veterans lend their support to the enow. Mr. Maynard with one of his mermaid pict ures—"Summer Sea." an animated, sparkling water color-Mr. ShurtlefT and Mr. Gifford with interest ing landscapes. There is a little more beauty of color, a little more force of style, i n Mr. Gifford"s Siberian amp Plover Bay." than we have found in anything el** of his for a long time. The picture is small, the composition is not particularly strik ing; Into the work, however, he has put all the charm of a rare impression. Mr. Alexander Schill ing-, whose thoughtful work we see too seldom, shows a beautiful "Spring Landscape," a finely balanced design painted with imagination and sin cerity. Good composition is visible also in Mr. C. Mente's "Village on the Hillside." in which pict uresqueness is artlessly gained, quite without detri ment to the simple rustic note on which the scheme is based. Mr. Snow's "Early Morning. Cobb's Creek" and Mr. Hatch's "Old Watering Trough are minor landscapes, worth notice because of the promise they contain. For the same reason, among the figure studies, we mention 'The Pump Dutch Interior." by Mr. Clark Voorhees. who has evident ly not foun-1 a style of his own as yet, but is on the risrht track. Mr. Wiles has bo^T at work too long to be placed in the same category, yet his "Summer," in which a demure young lady Is seated between the gate posts of a straggling roadside fence. is important chiefly because it hints that he has taken a fresh start, and Is developing new powers. He has lately been falling into conventional ways; his work has been dry and dull. This "Summer" has some vi tality; it promises better things. The composi tions by Mr. Keller. Mr. Witt. Mr. Turner. Mr. Weldon, Mr. De ThuUtrup and Mr. McGrath are mildly interesting. Mr. Jules Turcas might have excited a warmer tribute If the clever touches in his "Iron Foundry" had been reinforced by a bet ter knowledge of the artistic .management of light. As it Is, the picture makes a pleasant spot in the collection. The portrait studies by Mr. Loeb and Mr. Schneider are bbth attractive by virtue of suavity in the drawing, and in the color. Divers other artistic productions come to mind. Mr. Kin selia's "French Cathedral. Quebec"; Mr. Pott hast's "Homeward Bound." a boldly handled paint- Ing; Mr Van der Weyden's "Breezy Par on the Dutch Coast**; Mis* Kent's "Barblzon"; Mr. Mas sam's "Rain, Mist and Electric Light"; Mr. Ciine dinst's "Long Ago" (to which the Evans prize has been awarded); Mr. C. W. Eaton's "Pines at Sun set," and Miss Sherwood's "The Red Cloak" all have merit. But. be It said to the credit of the exhibition, there are many more good pictures in j it. Its. even quality is its best recommendation. MUTUAL LIFE'S ANNUAL STATEMENT. THE COMPANY PAID $13,620,979 43 TO ITS POUCT HOLDERS LAST YEAR. The annual statement of the Mutual Life Insur ance Company of New- York, of which Richard A. i McCurdy is president, shows that on December 31. I 1533, the company had received for premiums in the preceding twelve months the sum of $44, 524,." 13 22 I and from all other sources $14,355,537 93, making a j total income of J35.590.077 21. In the same period the , company paid out to Its policyholders for claims by death $15. 629.979 i",, for endowments and divi dends, $10,739,05712, and for all other accounts, $12,228.444 13. making a total for disbursements or J35.597.480 68. Its assets amount to $301,844,537 32. and it has a reserve against all liabilities of more than $251,000,01)0. It also maintains a guarantee fund for the additional protection of It? members of more than $47,000,000. Here is a statement showing the nature of the company's assets: T'nited States bonds and other securities. . . .$173 4<?l -4 First Hen loans on bond and mortsase "4 7 ■ B^l (Q Loans on bonds and oih*r securities 6,3300TiO (10 Loans on company's policies 4*374 636 63 Real estate: i'om]i«nj« twelve cfllce build- " " ' in«» and other properties 23 1S« -,•»•-, Oft ("ash in banks and trust companies 13.012 455 0° Accrued interest, net deferred premium*, •" '. 6.960.63741 The trustees of the Mutual Life Insurance Com pany of New-York are as follows: Samuel D. Bahrock. William Habrock Richard A. McOurdy. BtVrtaMßt Fl«h. James C. Holden. August D Julllianl H.-rmann C. yon Post. Charles E. Miller " Oliver Harriman. : Walter U. Gillette Robert Olyphant. : H. Walter TV-ebb. Georse F. Baker. George •; Haven Dudley Olcott. Adrian Iselin Jr. Frederic Cromwell. G«ors;e S. 80-vdoin Julien T. Davies. | William C Whitney i"3iar!eß R. Henderson. William Rockefeller" Rufus W. Peckham. James K. Jarvie. J. Htihart Herrtck. I Charles D. Dickar Jr. William p. Dlxon. ! Elbrtdge T Orry. Robert A. Grannisa. A. X Waterhouae Henry H. Roirers. I William J. SewelL John W. Auchinciosa, James Speyer Theodore Slorford. : Charles Lanler. Its officers are: Richard A. McCurdy. president; Robert A. Grannlss. vice-president; Isaac F. Lloyd! second vice-president; Walter R. Gillette, general manager: Duer dv P. Breck, corresponding secre tary, William J. Easton. secretary; Albert Klazn roth, assistant secretary; Frederic Cromwell, treas urer; John A. Fonda, assistant treasurer; James Tlmpson, second assistant treasurer: William P. Sands, cashier; Edward P. Holden. assistant cashier; Emory McClintock, actuary: John Tatlock, jr.. associate actuary ; William A. Hutcheson, asso ciate actuary; Charles A. Prell«r, auditor; C Clif ford Gretslnger. assistant auditor: William W Richards, controller; Henry 3. Brown, assistant controller: Edward Lyoian Short, general solici tor; Dr. Ellas J. Marsh and Dr. Granvllle M. White medical directors. IXSTITUTE OF TECHNOLOGY 'DIXXER. The fifth annual meeting and dinner of the Massa chusetts Institute of Technology Society of New- York was held last night at Sherry's, more than fifty members atiendinf. This is one of the most flourishing of the alumni societies of the Boston school. Professor Crafts, president of the institute *<Sdreo»ed the members. The address wag followed by an interesting Illustrated talk on 'The PhlUn rlneV* by Messrs. Andreaa and Reeve, of the United States Blgnsl Service. The following mann »iv« committed wl* eUcted a William B. Dow»» E. R. >r«neh. Charles Meed», Axel Amu, jr., &a 4£- I •starter iUoa ifteJUa. .-„ . ' - *•■- .. - j The Annual Statement of The Mutual Life Insurance Company of New York appears on the last page. This is the largest Lire Insurance Company in the World. It established during the year 1899 over One Hundred and Sixty-nine millions oi dollars in insurance issued exclusively upon selected unimpaired lives and the premiums were paid in cash. faction Sales. Estate of the late C. WERNICKE. W. O. B. CLIFFORD, EXECUTOR, 220 BROADWAY. Rufus P. Livermore, Attorney. At absolute sale on the premises. 8 West 33d St., The Enormous and Exceedingly Valuable Stock of Both Stores, 314 Fifth Ay. and 8 West 33d St., Appraised Valuation 5350.000. Acknowledged both in Europe and America to be the most extensive, unique and unprecedented collection of Antiquities and Art Objects I* THIS (Ol \TRV. The Stock of First Empire Furniture Surpasses any in America, the Collection oi Dutch and English Silver and Sheffield Plate is undeniably the most extensive ever shown, and includes the celebrated Black Tack Silver Mounted Drinking Set of OLIVER CROMWELL. The Royal State Couch of the mad King Ludwig 11. of Bavaria. A most superb First Empire ta! k set made for Xapoleon I. by Thor.nre. A gigantic carved Ene ik Hall Chime Clock, by B. Wilkins. Grey Friars. London. 174*. playing eight old English melo dies. A notable collection of English, Dutch. French. German and Ital ian Porcelains and Potteries: VM) Mantel and Hall Clocks, Jewelry, Miniatures. Carvings, Curios. Cabinets. Prints. Engravings, Paintings, including two examples by D. Teniers. D. J. A collection of Lor.is XIV.. XV. and XVI.. old Dutch and French, Mar qneterie, Chippendale, and Mahogany Furniture. A magnificent pair oi Royal Dresden Vases. 4 feet in height: French and Florentine Carved Wood Mirrors, Bronres. Vases. &c. also Fixtures; Sale, Hdrse. Wagons. &c. On Exhibition Monday, February sth to 10th, 9 A. M. to 6 P. M. & 7:30 to 10 P. M. SALE COMMENCES MONDAY, FEBRUARY 12TH.at one o'clock. and. every afternoon thereafter until the entire collection in disposed of. Term* of !9al«> — depoatt* of 23 per cent required from mil pirrkat«n. Catalogues mailed on application to - .1 C. E. SMITH, AUCTIONEER. KNICKERBOCKER AUCTION ROOMS, 8 West 28th St VIGILJLXT LAISCHED AT TTIIOira YARD. COMMANDER FREMONT'S DAUGHTER CHPaSTENS THE TUGBOAT BUILT FOR HIS USE. Elizabeth, N. J-. Feb. 3.— The Government tugboat Vigilant was launched at noon to-day from Lewis Xixon's Crescent Shipyard, at Elizabethport. She 18 to be used by Commander John C. Fremont in supervising New-York Harbor. The vessel was christened by Jessie Fremont, daughter of the com mander, who broke a bottle of wine across the bow of the boat as she slid into Staten Island Sound. The Vigilant was launched with all the machinery in place and is nearly ready to go into commission. A number of naval official? came from New and Brooklyn to witness the ceremony, and they were entertained with a collation by Mr. Nixon in the shipyard oHces. DAS FORTH COMES TO LIGHT A6AIS. WANTS TO BE NOMINATED EITHER POB PRESIDENT OR GOVERNOR OF XETT-YORK. Elliot Panforth has once more emerged from political obscurity as a candidate for any office that may be within reach. Mr. Danforth went to Syracuse ln 1898 with a flourish as a candidate for the nomination for Governor. He had been chair man of the State Campaign Committee in ISM, when William J. Brjan was candidate for Presi dent, and made many friends among the free silver men. although he lost the State by an enormous majority. He wasn't nominated for Governor, but he accepted the second place on the ticket, with Au gustus Van "Wyck at the head. He was defeated, and then retired for a time. He reappeared In the last campaign as chairman of the Executive Com mittee of the Democratic State Committee, and went down to defeat again. A mild boom has been started for him as a running mate for Mr. Bryan this fall, or as i candidate for Governor. It ii said that Mr. Danforth is strong with both wings of the party in this State, and could get the united support of tie New-York delegation for second place on the ticket- O. H. P. Belmont up to this time has been regarded as New-York's most ag gressive candidate for the Vice-Presidency on the Bryan ticket, but It Is said that Mr. Belmont could not get a united delegation from this State, and that his candidacy has not met with enthusi asm in the South and West. The friends of Mr. Danforth hold that he is entirely satisfactory to the Chicago Platform Democrats that be has been consistently loyal to Mr. Bryan, and that be is also in favor with the regular organization in the State. In the event that Mr. Danforth is not nominated for the Vice-Presidency, however, his friend* think he should be nominated for Governor this fall. The only man mentioned in opposition to Mr. Danforth is Controller Colex. but it is indicated that he won't accept the place if it is offered to him. With the Controller out of :he w«y. Mr. Danrorto's friends think the outlook to. bright. It is said that a movement in Mr. Daaforth's interest has already been started in the South and West. Mr. Danforth recently took a lons trip through th« South and West, and saw and talked v with nearly all th« various State chairmen and other leaders, and mad* a good Impression, it is Indicated that he will make an aggressive campaign for the nomina tion for vict-Pr*«id«nt, and railTa* in that. h« will 4«m&ad the aoaia*U«a tot Governor. Unction Salts. THI\K HE ZTOLE VALUABLE MAIL. DETECTIVES BELIEVE REILLY - CAPTURE AIT IMPORTANT ONE. Joseph J. Reilly. of Lincoln. 111., who was ar rested on Friday airht in the Bowery by Postofict» Inspectors King and Jacobs, and accused of Irit^i plundered several street letter boxes along Maiden Lane, was taken from the Essex Market Pollc* Court at noon yesterday and arraigned before United States Commissioner Shields In the Federal Building by United States Marshal HenkeL TIM) prisoner, who is believed to be a Western man. waived examination, and was committed in fault or J2.300 bail toLudiow Srreet JaiL It is estimated by Postodce Inspector King that he has stolen between 3.000 and 8.030 letters tad valuable packages. One of the letters which th» man bad in his pocket was addressed to Kldder. Peabody & Co., of No. 113 Frrn— hlra m.. w Boston. Mass. It contained tan»« certdloatea OC stock representing eighty-or.s shares of the Atchi son. Topeka and Santa r> Railroad. The Postofflc* officials say that Reilly'i capture is a most fca portant one. Yesterday afternoon the prisoner made a con fession to Chief Postofflce Inspector King. Ha amid that his real name is Joseph J. Davis, and that ha was born thirty-nine years ago at Lincoln. IIL Ha is a widower, and has no relatives living. As a young man. Davis said, he had been catcher la tha baseball teams representing Lincoln. Atlanta and Springfield. IIL Afterward he travelled about tha country. Davis admitted stealing the letter*, bo* explained that he did not be«in ta plunder the lanar boxes until he had tried and failed to ret wa-i. He stole the letter, daily between The hoS oTsJd and b:3O p. m. The prisoner declared that be hid not stolen all the letters credited to him by the Postcfflce Department, because while he was rob! bing the street boxes he discovered thaia ?ai! man. who had a brown mustache and looked Hks> Frenchman, and wore a white Fedora hT-fwaj ik ing suspiciously several times about mail boxaa^^ GARDISER SEES SBEEHAS AXD XICOLZ+ GRAND JTRT TO TAKE CP BROOKXTN SA7ta TRANSIT CASE TO-WOWUtOW. District Attorney Gardiner came to tie city from bis home In Garden City yesterday and held a con sultation with his staff of assistants in hU oC!c« toj the Criminal Courts Building. He was- looking • about as well as usual, but he said he had 3««e suffering pain In his spine caused by the fan wiitea broke one of his ribs several weeks ago,. He sail he would stay at th» Waidrof-Astoria. for th* prea> en: and would be ready for the naartas of. the City Club's charges, which will begin on Tuesday aaftoj* Commissioner WUcox. Mr. Gardiner m the afternoon had a conference with ex-U*ut«aant-Ooverßor Sheenan and a Dis trict Attorney Nleoll, representing th© Brooklyn Rapid Transit Railroad, concerning the 1 1) mi slanders directed against the railroad company. Ha had written to them, stating that a special Grand Jury had been called and he expected them to pro duce the evidence &n their chars** of slander. Th« District Attorney was closeted with the lawyers la his private for over an hour. When the con ference was over he merely said that he was going on with the Brooklyn Ra^ld Transit ease before ta« Grand Jury to-morrow. He would say nothisc of what happened in the conference, deaiartag that his determination to go on with the case could be taken as enough .to talkate what eoßOiualoM had Mas * Y*ache4» «. «- —— - -— — — — - ■ *■. * T