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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, April 16, 1902, Image 1

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V" 1 LXII N° 20/J4O
{(VjnYlrtit: IMS: By Th«> Trlhun* A«»viaiirin.>
[Pprrial '• Tb* TMl'UTif by Kronrh <>I>l».]
P^kspls, April 1<». l a. m.— The King of the
BflsrianF " s UF ' n S lS influence ptronprly with
th*" ministers and I^iboral loners to effect an
adju^tm^rit of political differences, and the con
fer«nc«s held to-day are due mainly to his ad
vice. The real cause of the disturbance Is the
aimmr.loup eysteni of suffrage, by which a Con
perv»tive or Clerical government is kept in
While every man of suitable ape can vote once.
lhfT< » jc a system of plurality voting by which
v property, or with hipher educational
qualifications, have several voles.
Both Lil»-ral.« and Socialists have united in a
dfrnar.d similar to what is known in England
as "one mv.n, one vote."
■ r, after promising a discus
;. rislon bfU f'>r franchises, gave no
incfaj vting would proceed on
As this seemed to imply that revision would
t.e deferre4 until after the general election, the
focialisis organized demonstration* in leading
towns, and tJrought on a labor strike of consid
erable magnitude.
The anarchists took advantage of this oppor
tunity, and order has been maintained with dif
ficulty In the capital and in the large towns.
The Liberals promptly separated themselves
from th<- party in favor of violence, and warned
the ministers that Mine legislative compromise
must be effected at Wednesday's session.
Public exfitement has abated momentarily,
while th.- politicians have been conferring, but
the labor strike has complicated a really danger
cts situation. 1. N. F.
iPv Th» Associated Pros?.)
Brass I April 15.— International Socialist
Bureau has decided to issue a manifesto to all
foreign latw associations, asking them to sup
port the peneral stike in Belgium.
In consequence of the disorder? the pupils of
several communal schools have been dismissed,
and the premises have been utilized as barracks
for the troops.
All the factories and mines at Morlanwelz, a
villac fifteen miles east of Mons. Malere and
Jlal'il «- liave been closed.
Socialist disturbance s occurred last nipht at
Namur. a city tbirty-slx miles southeast of
Brussels. disturbances stoned the police, who
a city thirty-ate miles southeast of
■ is. A mob there stoned the police, who
charged with drawn swords. Subsequently, a
force of ■ em scattered the rioters.
' The strike is steadily extending in both this
city and its suburbs, especially at,Molenbeek.
where a number of largo factories have stopped
Work The military and police have adopted
tirlnseut sure* to preserve order. f
• Thf burgomaster ha? refused the soda
request !d be allowed to follow their own devices
in burvinp the socialists killed In Saturdays
ft**. Orders havt been Issued for the proces
sion to occur at 6 o'clock in the. morning. wth
m bands or funeral emblems. Otherwise, the
burial must be carried out at nicht.
It is now estimated that the strikers in the
Cha- ■ ■ ■! district number fifty thousand. There
ere many parades In th ■ streets there, but the
town is generally peaceful. .
At La Louvlere, a town in the province or
Balnmut fourteen miles west -northwest of
Qjarleroi. iwenty-five thousand men are out on
strike bat there is no trouble In that district.
' Dispatches from Ghent, L4e«e and elsewhere
la the- provinces show that the strike is extend
ing. The workmen, thus far. have been peace-
* A . lierstal three miles northeast of i.ie
JUteeo hundred employes of the National Arms
Factory walked out.
All U» approaches to ihe Parliament hulHinps
ten? are occupied by Civic Guards.
Bni!==Hs. April 15.— The government has firm
ly declined 7,. yield on th*; question of revision.
End unless King Leopold should override the
: povernment there reenis to be nothing to pre
' rent th« development of a serious situation.
In the Chamler of Deputies this afternoon M.
I Xeuj^an presented a manifesto on behalf of the
Liberal m^mt>ers of the LefJ party demanding
dissolution. In order to enable the country to
I rrotiounre on the revision questloM. After dis
cjissinn the House adjourned without taking
To-morrow the Socialist members of the
Chaml..r will present their demand. for univer-
I sal Fuffric. This v .ill inevitably be defeated.
and it is feared that this defeat will lead to
: trouble particularly in the provinces.
>->■ noteworthy incident occurred to-day In the
stress of The city. The authorities have taken
extraordinary measures to avert disorders, and
th« whole tarter comui fawns; 'he Chamber of
Deputies! the .-,„., and fie ministries is kept
in complete isolation from the rest of the city
by cordon^ of the City Guard.
The appeal of ,|,e socialist leaders for a dem
cnstraii->n at the Chamber of Deputies to-mor
row, has created some uneasiness. A number
: of shopkeepers have barricaded their window?.
■ It i- rumored to-night that the cab drivers and
tramway men will strike.
London. April K»— lt is understood, says the
Bruise ' pondent of "The Daily Tele
cranh." that at the last council King Leopold
insisted upon th • necessity of granting universal
j suffrage.
Hong-Kong. April 15.— report has reached
her" that the rebels in Kwang-Se Province in
tend to seize three provinces in Southern China.
namely, Tun-Nan, X wane-So and Kwang-Tung.
ar.d establish an independent government. The
rebels announce, however, that they will en
deavor not to Interfere with foreign trade, and
thiit they ■• ill not attack Canton until the prov
inces mentioned have been thoroughly reduced.
By this course of action* they hope to avoid col
lision with troops of foreign powers.
Duboie, tin.. April 15.— At a mass meeting held
by til* Ftrtklng minors at PmUBMtS this morn
ing lh»- agreement mart* >■< ■ t . rday between Gen
♦-re! Manager Robinson of th- Rochester and Pltts
burg Coal and Iron Company and -ii. national and
ssit<trlci ■■sen of the United Mine Workers was
fj. It hi the general sentiment that work will bo re
';. uumr-6 in the entire region on Thursday. This
► would Hits'* m^an the resumption of work at the
I' car chops In this city, and employment for many
jj". 1 r./iitj railroad idvi..
Th<- Pre»i.l. <!<•*! rex to knniv In tin- fullcNt 11ml moM <•! r<iini><aii tml iiininwr nil the
fn«-l». niilliliit: IM-inu concealed, Mini no ma ii l..Mn for nn.v reason fnv«ir«'<! or 1.1.1. .1 .
For the v«t> ri-.-i-i.-i flint the President Intends to hack up the army in tin- heartiest
fashion In fiery lawful nn«l IrsjttlSaSltr method of <l<>ln It» vrork, lip nl»o Intend* to
*«•«• that the moot rlKoroun care I* exerolwed to detect and prevent nny cruelty or
hrntnlltv. and flint men vrlio are trnllly thereof nre punished, lirciil iim I In- provocation
linn been In donllntc with foes who habitually report to treachery, murder ami torture
n«raln*t our men. nothing run Justify, or will he held to Jnntify, the u-x- of torture or
in hi! inn ii conduct of any kiml on the part of the American army. — (Secretary '!'■■■• to Oenerml
Chaff cc.
"Washington. April 15. — Secretary Root has or
dered General Chaffee. at Manila, to investi
gate the newspaper reports of the Waller trial,
and if they are correct to court martial General
Jacob H. Smith. Also, if the facts are estab
lished as testified to before the Senate Com
mittee on the Philippines, to court martial the
officers who administered the "water care" to
the Presidente of Igharras. These officers are
Major Glenn, Lieutenant Conger and Assistant
Surgeon Lyon.
This action was the result of the < onsldera
ti<-n by the Cabinet to-day of the < harßeß of
cruel treatment of Filipinos by I'nited States
soldiers. President Roosevelt is determined to
pift the matter to the bottom.
Tlv following correspondence waa made pub
lic by Secretary Hoot:
War Department,
Washington. April l"». I."-.-.
My I>--a! Senator: I beg to acknowledge the
receipt of your copy of the testimony of Ser
geant Charles S. Riley and Private William
!>>wis Smith. lat.-- of the 26th infantry, taken
before rour committee yesterday. I Inclose a
copy of' .-, dlspatcb which has been sent to-day
to Major General ChafTee, commanding the
Division of the Philippines. Directions have
been given to the fudge advocate general 91
the army to take proper steps In accordance
•with the dispatch.
Th<- War Department will bo glad t" receive
the earliest possible information of anj fur
ther evidence which may be elicited by the com
mittee tending to !ix responsibility upon any
mi* in th- military service of the United States
f.u- any violation of the laws of war or of th
regulations and order? governing the operations
of the army of the United States In the fleld.
Very res tfully. ELIHIJ ROOT,
Secretary of War.
The Hon. H C Lodge, United States Senate,
Washington. D. C
War Department, Washington.
Memorandum for the adjutant general.
Cabl? General Chaffee as follows:
On February -I.» a letter was sent you in
closing for Investigation copy of charges made
by Governor Gardener of Tayabas Province,
which contained general allegations of cruelties
practised by troops on natives, and generally of
an Insolent and brutal attitude of the army
toward natives. „„..
on \pril "a cable dispatch was sent you
urging action with all speed consistent with
thorough and searching investigation.
On March 4 a cable dispatch was sent you
directing disciplinary measures to produce
obedience to the President's Instructions, subor
dinating military officers to civil government In
pacified provinces, and Instructing you to re
lieve Major Edwin F. Glenn and Captain James
A Ryan from duty and order them to Manila
to await investigation into their conduct, in ac
cordance with Instructions to follow by mail.
On March 24 Instructions were mailed you
containing statement of charges against those
officers and General Jacob H. Smith, as the basis
of the Investigation ordered by the cable of
March 4.
Further instruction in both matters are re
quired by the following facts:
Press dispatches state that upon the trial of
Major Waller, of the marine corps, testimony
was given by Waller, corroborated by other
witnesses that General Jacob H. Smith in
structed him to kill and burn; that the more
he killed and burned the better pleased General
Smith would be; that it wan no time to take
prisoners, and that when Major Waller asked
General Smith to define the age limit for killing
he replied "Everything over ten.**
If such testimony was Riven, and the facts
can be established, you will place General Smith
on trial by court martial.
Yesterday before the. Senate Committee on
Philippine " Affairs. Sergeant Charles S Riley
and Private William Lewis Smith, of the 2<>th
Volunteer Infantry, testified that the form of
torture known as the water cure w»a adminls
wed to the Presldente of th. town of Igbarras,
Hollo Province. Island of Panay, by ■ detach
ment of the I th United States Infantry com
manded by Lieutenant Arthur L. Conger, under
orders of Major Edwin F. Glenn, then captain
•rirh Infantry and that Captain and Assistant
surgeon Palmer Lyon. at that time a contract
pureeon was present to assist them. The offi
cers named, or such of them as are found to be
! ..:,. ££blefor the act. will be tried therefor by
court martial. Conger and Lyon are in this
cou^m™ Both the 2«lth Volunteer Infantry and
IH, ,?nfantrv having returned to the United
states and most of the witnesses being pre-
ptivelv h"re. the Secretary of War directs
SPS P \lV»r K. F. Glenn. SUn Infantry, be di
eted to proceed to San Francisco and report
tftnJ general commanding the Department of
V iVfornia with a view to his trial by court
;1; I; ;,;^rtls,*,.T any witnesses still In the
service In the Ph Hipp In— •*■ can leellfi ' ll
support of the charges, or If. Major Glenn desires
the attendance of any persons now serving In the
Islands as witnesses for the defence, you will
direct them to proceed to San Francisco for
that purpose. As the two years allowed for the
prosecution by the statute of limitation* i*
nearly at an end, no time Is to be lost. Toil will
take such course in advancing or postponing the
Investigations previously ordered Into the con
duct of General Smith and Major Glenn as
shall be required to enable you to execute these
It is t believed that the violations of law and
humanity of which th'^e ens. s If true, are ex
amples, will prove to he few and occasional, and
not to characterize the conduct of the army
generally in the Philippines; but the fact that
any such acts of cruelty and barbarity appear
to have been done indicates the necessity of a
most thorough, searching and exhaustive In
vestigation under the general charges preferred
by Governor Gardener, and you will spare no
effort. In the Investigation already ordered un
der these charges, to uncover every such case
which may have occurred, and bring the of
fenders to justice.
The President desires to know in the fullest
and most circumstantial manner all the facts,
nothing being concealed, and no man being for
any reason favored or shielded. For the very
reason that the President Intends to back up the
army In the heartiest fashion In every lawful
and legitimate method of d.olng its work, he
also Intends to see that the most rigorous care
is exercised to detect and prevent any cruelty
or brutality, and that men who are guilty there
of are punished. Great as the provocation has
teen In dealing with foes who habitually resort
to treachery, murder and torture against our
men. nothing can Justify, or will be heir! to
justify, the us- of torture or inhuman conduct
of any kind on the part of the American Army
Secretary of War.
April 15. V.*> 2.
m- 1
Manila. April — The total number of cases
of cholera reported In this city up to noon to
day is 275, an 1 the total number of deaths from
that disease In Manila is 215. In the provinces
the aggregate Is 495 cases and 315 deaths. There
have been only two deaths of Americans from
the disease.
Dr. Meaoham, the assistant of Major Mans,
the Insular Health Commissioner, died to-day
from heart failure, caused by overwork on the.
cholera cases.
Washington. April 15. — Representative Burle
son, of Texas, introduced a resolution In the
House to-day calling on the Secretary of War
for a full transcript of the proceedings before
the court martial which recently tried Major
Walk-r in Manila for executing Filipinos.
The employes of the United States Assay
Office. Nos. SO and X' 2 Wal!-st., had a little work
not included in the regular schedule yesterday
afternoon. Fire broke out in the silver smeltinv;
room. nnd it became necessary for them to turn
fire fighters. They laid two lines of private
hose, and after a warm hour's work put the fire
out without calling In the Fire Department.
Owing to the larK" amount of bullion in the
vaults, which it was reported were open wh»n
the fire broke out, every effort was made to pro
vent the existence of the fire from becoming
The fire started from some charred wood. In
the room fere twenty or more barrels of an in
(hunmable mixture used in smelting, nne of the
thief ingredients of which was said to be lard.
It could not be learned last night how serious
the fire was or h<>w much damage was done.
The fire was not out before 4:30 o'clock. It was
reported that $.'{l.<Kl!>.O<X> in bullion lay in the
vaults, ami about the smelting room, which
would have been at the mercy of looters had an
opportunity been Riven them to get into the
building. Watchmen were stationed at the
doors to prevent any one from entering, thus
leaving the other employes free to put out the
IAYNF/S EXPECTORANT— the Cough cure—
London, April 10.— "The Daily Moll" In Its
issue of this morntn? says it understands that
a serious hitch has occurred in the peace nego
tiations In South Africa. The Cabinet council
has decided t" refuse a Strongly worded re
quest from the Roer leaders at Pretoria for
an armistice pending the negotiations.
This alone is not likely to cause the Is"ers to
withdraw from the conference, say." "The Daily
Mail." but what threatens to stop the negotia
tions is the fact that til" government declines
to place the Cape rebels upon the same footim<
as the burghers with respect to amnesty, and Is
not Inclined 'O withdraw the banishment proc
lamation. These features are regarded by the
Boers as two cardinal points In the irreducible
minimum of terms, which Lord Milner went to
Pretoria to ascertain, and in return for which
the Boera agree to the loss of independence and
a general surrend* r.
Their other demands, continues "The Daily
Mail." are that Great Britain shall rebuild and
restock the farms, take over the legal claims
and liabilities of the two republics, and grant a
representative government within a. shorter
period than Is now contemplated.
London. April 15.- The government leader, A.
j. Balfour, replying to a question in the House
of Commons to-day, announced that the minis
ters had no Information to Impart on the- sub
ject of the South African peace negotiations.
nor, under the circumstances, could any infor
mation be Imparted at the present stage of the
negotiations. The government. Mr. Halfour
added, would immediately inform Parliament of
the fact when they had any news to communi
A new westward it rd for herself and the
North German Lloyd Line was made by the
steamer Kaiser Wilhelm der Grosse on the voy
age which terminated here yesterJay. She cov
ered the 3,14« miles of the long course from
Cherbourg in 5 days. 18 hours and 45 minutes.
which is at the rate of 22.70 knots an hour.
This beats her own best previous hourly average
of 'J-. 11. made last November, and the best
hourly average of the Kronprlni Wilhelm, of
'_"J IT. made in December.
The w lreless telegraph apparatus on the steam
er worked successfully. George Kroncke, the op
erator, sent more than fifty messages from the
ship to the Lizard and the Nantucket lightship
for passengers. Communication with the Nan
tucket lightship was established at 11 O'clock OH
Monday night and continued until .'I o'clock the
next morning. The greatest distance that mes
sages were sent was eighty-five miles.
Mr Kroncke related how on the last east
bound trip he had spoken the Lizard, asking
them if tnelr foghorn was broken, the Kaiser
Wilhelm der Grosse being In a dense fog at the
time. The answer came. -Why. it is perfectly
clear here.- Kroncke says he investigated, and
found that the steamship was fifty miles away
from the Lizard, and therefore the foghorn
could not have been heard, even if it had been
Among the passengers on the steamship was
Bishop W. A. Leonard, of Ohio, who has been
abroad on the annual visit made by a member
of the House of Bishops; to the American fcpls
conal churches throughout Europe. American
rr are established in Europe in the hUTge
cenms where there have been none established
by the English ChWCh. or wherever .hern Is a
Home, Nice and Geneva.
Baron yon < inpenhelm. secretary of the Ger
man Legation in Cairo. Kgypt. also arrived on
the steamship. The baron said be was here for
th.. nurnosc of learning why Americans did
things so much better than any one else, for
both his own and diplomatic reasons.
ON $20,000,000.
Boston April 15.— Details of the plan by which
the Dominion Iron and Steel Company absorbs the
Dominion Coal Company have been completed. The
.tee! company Is to take over all the properties an.l
assets of the coal company, guaranteeing to the
latter company 8 per cent, on a capitalization of
*-o »h«i 4*» The coal company's common stock
*"•' Is l(t 115,000.000 but it has some bonds and pre
f.rr,-.i stock' outstanding, which by the lease are
tV be retired by the issue to the holders of these
securities of $T..000 .<-«»> in common stock at 120.
Directors of the steel company nave also decided
tn issue $5 000,000 of new stock and to offer it at «0
cents on the dollar pro rat.i to the present holders
of the company's common stock. This issue has
already been underwritten by a Canadian-Ameri
can syndicate.
ghortest and best route. tO, UM U'way.-Advt.
After ■ day of conferences among those con
cerned in th* vast operations which have re
sulted in thf shifting of control of the Louis
ville and Nashville road, a day marked also
by record breaking trading in the ated mar
ket, with Southern Railway common the feat
ure. George \V. Perkins, of J. P. MorgU & ('"•,
at Sherry's, just before 12 o'clock last night
gave out the following statement:
At the request of Messrs. Harris, Gates & rv.
who on their own independent account have re
cently made Inrge purchases of Louisville and
Nashville Railroad stock. Messrs. J. P. Morgan
& Co.. as bankers, have consented to take con
trol of the stock so purchased au<l to receive
the same on deposit.
They have so consented solely to relieve the
general financial condition, and not for the
benefit of any railway company. The Southern
Railway has no interest, direct or indirect, pres
ent or prospective, in this stock or in its pur
chase or deposit.
Mr. Perkins's statement was shown to August
Belmont, at his hump, and Mr. Prtiiwl said
of it:
I have b. en aware of the negotiations by
which J. P. Morgan & Co. ha»>- consented to
take control and deposit of the stocks of the
Louisville and Nash\itle Railroad Company, pur
chased by Harris. <Jates & Co. The stat-ment
by Messrs. J. IV Morgan & Co.. just made pub
lic, has mv unqualified approval, and there will
be no contest for the control of the Louisvill
and Nashville Railroad Company.
>IPSHIS.1 PSHIS . j p. Morgan & Co. are acting with
the cordial assent of Messrs. August Belmont
& Co.
These announcements coincides with the ex
plicit statement made late in the afternoon !■>•
President Bpenee* of the Southern Railway
Company. but are at variance with statements
made on other high authority in the course of
the day, which were that control of the Louis
ville .and Nashville would eventually pass to
the Southern Railway Company.
The rjiipstlon of the Louisville nnd Nashville
control was again yesterday the all absorbing
theme of the Street. The authoritative state
ments in The Tribune and one or two other pa
pers that that control had been offered by the
Gates syndicate to J. P. Morgan & Co. wen ac
cepted at their full value in the financial dis
trict, the conclusion being drawn that the prop
erty would pass to thf Southern Railway Com
pany. The course of the market tended strong
ly to corroboration of that inference, for at th-»
very opening there was an enormous rush to
buy Southern Railway.
At the ofßif of J. P. Morgan & '•>. a series
of conferences began before 10 o'clock. Those
present during the morning were George W.
Perkins and "William Pierson Hamilton, repre
senting the Morgan Interests; August Belmont.
chairman of th*» board of the Louisville and
Nashville; Samuel Spencer, president of the
Southern Railway Company: Edwin Hawley.
president of the lowa Central and Minneapolis
and St. Louis roads, and a member of the Gates
syndicate; John W. Gates. Talbot J. Taylor.
head of the brokerage firm of Talbot J. Taylor
& Co.. and son-in-law of James R. Kerne, and
Francis Lynde Stetson, Mr. Morgan's personal
attorney. This conference broke up a little be
fore 11 o'clock. Mr. Gates was among the first
to leave it. and It soon became known that ne
would Issue a statement telling of a peaceful
solution of the situation. At 11:2.". o'clock lac
appended announcement was given out by the
brokerage firm of Harris. Gates & Co.. In which
John W. Gate* Is a special partner:
"We have^ bought a large amount of stock of
the Louisville and Nashville road. We did not
buy It for speculation, but for Investment, be
lieving absolutely In the present and future
value of the property. There will not be any
•corner' in the stork, we have placed the en
tire matter in the hands of J. P. Morgan & Co..
and requested them to act as arbiters la the
situation, because of the prominence of the
property and desire not to disturb in any. way
the general market condition, and because we
know that they (Morgan & Co.) have no In
terest whatever In the property or in recent
This statement was later changed so that it
read "We have bought control." etc. The cor
rection was made by John F. Harris, who had
just paid a second visit to the Morgan banking
Mr. Belmont made another hurried visit to
J. P. Morgan & Co. soon after the Gates state
ment was Issued. He declined to say anything,
as did the Morgan representatives. Mr. Perkins,
who had been most active in the preliminary ne
potiHtions. seemed at first disposed to make a
statement dealing with the terms arranged be
tween the Gates and Relmont factions. Fie
changed his mind, however, and announced that
some definite declaration would be made by the
arbiters late in the afternoon. When that time
came Mr. Perkins decided to withhold the Mor
pan statement until late at night.
Representatives of the Gates party were In
and out of J. P. Morgan & Co.'s office ail day.
Mr. Gates himself paying at least three visits.
Mr Belmoni made a second call there In the
afternoon, and Mr. Perkins, at "»:»">. called on
Mr. Belmont for a few minutes. Stuyvesant
Fish, president of the Illinois Central, was an
other caller at the Morgan offices, and his pres
ence there, as well as the fact of Mr. Hawley's
participation In the Gates syndicate, was taken
to mean that the interests of the Illinois Cen
tral would not be dlregarded In any arrange
ment which might be made for transferring the
Louisville and Nashville control from its old
All sorts Of rumors were afloat to account for
the record breaking activity of Southern Rail
way common. The chief buying seemed to be
by brokers usually, identified with J. P. Mor
gan & Co.. but the Street failed to understand
why the Morgan Interests should desire to In
crease their holdings of the stock. The colossal
scale on which the buying proceeded seemed to
negative the Idea that any considerable part of
the trading was speculative, and the belief
gained ground that the Rothschilds, whose rep
resentatives in this city August Belmont & Co.
are had entered the lists In a determined ef
fort to regain control of the Louisville and
Nashville through acquisition of the Southern
Railway, just as the Union Pacific Interests
bought Northern Pacific, through control of
which they would obtain an equal voice with
the Great "Northern in dictating the policy of
the Burlington. The Southern Railway Com
pany has outstanding $120,000,000 common
stock and $»V>.om >.<"*> preferred. Control
of both classes Is vested in a vot
ing trust until the preferred shall have
paid 3 per cent dividend in any one year. Four
per cent was paid on the preferred in 1901. and
with its increasing prosperity the company
seems likely soon to be able to increase its rate
on the preferred to 5 per cent. Indeed, it only
a few days ago declared its first semi-annual
dividend on the preferred for this year at 2' 2 per
cent, or at the rate of 5 per cent yearly. Con
trol of the common, at yesterday's average fig
ures', could be purchased for about £22.0"»>.0<x».
and of the preferred for about 129.000j.0M>: a
total considerably le?s than the Harriman-Kuhn-
Loeb rests ire understood to have expended
In their purchases of Northern Pacific =f ck. The
theory of Rothschild buying, it is relieved, would
reconcile the statements of Mr Perkins and Mr.
Belmont with the widespread anil well support
rd belief of yesterday afternoon that the Gates
stock was Is go to the Southern Railway Com
pany, as the abandonment of that plan would
"relieve the general financial condition" instant
ly and decisively. It would also explain the
enormous dealings in Southern Railway com
mon yesterday. .
Opening at 34%, Southern Railway common
advanced in th- first hour 3 points, only one of
the sales being of as small a lot as 10) shares,
and the total sales broke all records for the
first hour of trading, exceeding 350.000 shares.
This is a sample from the tape in the first few
minutes; 1.»h~>o, :V: V 'M-\. 4.r>o<>. 34*4; 4,500.
VA%; I,»XK>, 3."; I.OW, 34%: 0.000. 35; 2,500. 35%:
l\so<>, 35; 4,000. 35%; 2.000. 35^4; 1.000. 35%;
2.000, 351,4. a little after noon the stock touched
the high level of the day. 40Va. at which figure
a block of 10,000 shares changed hands. There
after, on heavy profit taking, it declined to '•'' ,
at the close, a net gain for the day of 3% points,
on total sales of NS2. ."•©♦> shares. The preferred,
on sales of 53,700 shares, advanced to 08*4 and
closed at 9714. a net gain of 2V4 Der cent.
Louisville and Nashville shares advanced at
the opening, but fell off almost as soon as the
"bulge" in Southern Railway came. Transac
tions in Louisville and Nashville aggregated
57.540 shares, the stock closing at 127, a net
loss for the day of 1 point.
While the excitement over Southern Railway
was at its height, brokers on th« floor refused
to deal in less, than I.WO share lots. A specialist
in Southern Railway tried to sell -M»> shares at
4*>. but could not, as bids were being made at
that time for only lots of l.»X»»> shares or» more.
o n April J4. 10»>l. there were r>J2.N<»»> shares
of Union Pacific sold on the New-York Stock
Exchange during the struggle between the Mor-
K ;in and Harriman interests, which culn 'nated
in the >iay panic. That record was broken yes
terday. The dealings in Southern Railway com
mon on the Stock Exchange during the first
hour amounted to about 3TJM**) shares, and for
the two hours up to noon to upward of half a
million shares. This breaks all records for deal
ings in a single stock for one hour and for two
hours on the New-York Stock Exchange.
There was one quotation on the tape which
had not before been seen this year. It was a
transaction in ."■«»» shares of Chicago. Burling
ton and Quincy at .>4'»- The I:iSt sale » last faU «
was at 1t."':...
Fully twoscore brokers were active in the
buying and selling of Southern Railway com
mon. Prominent among these were representa
tives of Talbot J. Taylor & Co.. Van Emburgh.
& Atterbury, A. A. Housman & Co., F. W. Savin
& Co.. J. S. Bache & cc. and M. C. Bouvier &
Co. About half the room traders and ■free
lances" took a hand in the game at one time or
other. Harris. Gates & Co. were reported to
have bought an.l sold 25U.000 shares in the
course of the day. _
Louisville. April 15.— The "Post" to-day says:
Governor J. C. W. Beckham was asked if he
would take any action to prevent the absorption
of the Louisville and Nashville road by the south
ern road, if men an attempt was made. He said:
"I have considered this matter, but I am not ready
to state at this time what steps I will take. My
action will be governed by th* law of this State
In this connection, and it is well known what tni3
law la."
The law is as follows:
No railroad, telegraph, telephone, bridge or com
mon carrier company shall consolidate Ira capital
stock franchises or property or pool earnings in
whole or In part with any railway, telegraph, tele
phone bridge or common carrier company owning
a parallel or competing ltn<* or structure, or acquire
by purchase, lease or otherwise any parallel or
competing line or structure or operate the same:
nor shall any railroad company or other common
carrier companies make any contract with the own
ers of any vessel that leaves or makes port in this
State or with any common carrier by which com
bination or contract the earnings of the one doing
the carrying are shared by the one not doing th*
carrying. _
Speyer & Co.. it was announced yesterday.
have purchased fMUMMiO Chicago. Rock Island
and Pacific Railroad Company 4 per cent gold
bonds of I!X>2. maturing In sixteen equal yearly
series of .*l,r>oo.ooo each. The bonds are secured
by a deposit of all the Choctaw. Oklahoma and
Gulf Railroad Company stock bought. A ma
jority of the stock of the Choctaw. Oklahoma
and Gulf has been deposited under the propo
sition for its sale to the bankers. The minority
stock will h» bought at the same price paid.
The railroad has been sold to the Chicago. Rock
Island and Pacific.
Albany. April !."».— The Court of Appeals to
day affirmed the judgment of conviction of Al
fred K. Goslin. Eugene L. Packer and Charles
E. Davis, of New-York City, found guilt-. of
conspiracy in trying to depreciate th? value of
the Brooklyn Rapid Transit Company's stock in.
ISOO by circulating reports concerning that com
pany •'.nslin was sentenced at the trial to serve
six months in the penitentiary and pay a fine of
|QM Packer and Davis each received a sen
tence of three months' imprisonment and a fine
of fßlfc
Alfred R. Goatta said to a Tribune reporter last
evening at Mi home. X •. 219 One-hundred-and
teventh-st.: "As far as I know, this judgment
of conviction is the first ca?e •■ record of the sort.
I believe it is obtainable In no other State but
New-York. It li ■ test cam**. 1 shall dispute it
with every means in my power. The next pl.t ■ I to
appeal Is the Supreme Court of the I'nlted States,
where it can be admitted on the question of Its
°It*has been aliened that Mr Goslin and Colonel
Robert Ammon. who was attorney for Mr. Go«din
in the trial in which the three men were con
vlctrd. have been it .»ld« recently, and that olonel
\mmon has been trying to collect a chattel mort-
MUM of JIS.S7.-i, Kiven to him sorm- time ago by Mr.
Go^tn on fifteen rictures. It was further allesed
that Mr Goslln had admitted that he had dispose!
of sl'x of the pictures covered by the mortfj
When Mr T.ostin was asked about these allega
tions he said: "You may deny them In t..to. An
injunction has been obtained asalnst Colonel Am
mon's foreclosing the chattel mortgage. The who
matter is now In the hands of Edward G. Wmt-_
taker, as referee. _
Albany April 15.— The Court of Appeals de
nied the motion of the District Attorney cf
New-York County for a reargument In the
Th*- Allen poolroom case. The court some
weeks ago dismissed the indictment against
Allen and several other men of N«w-York
ajralnst Allen and several other men of New-York
City on th<* charge of having violated the Antl-
Poolroom act. The decision of the court to-day
makes absolute its former decision that Allen ana
his associates be discharged.
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