OCR Interpretation

New-York tribune. [volume] (New York [N.Y.]) 1866-1924, April 27, 1902, Image 1

Image and text provided by Library of Congress, Washington, DC

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn83030214/1902-04-27/ed-1/seq-1/

What is OCR?

Thumbnail for

■*' .^^^^^ > •• . , ■ - • i . f r :-.-.:■ ■■■•.■■;•■•:,-■''•"■;
V OL LXII..\°- 20.25 L
fOopj-rleht; IVttZ: Bj Th*. Trtbana I— iml»ll d.l
l^pe.-ial to The Tribune hy French Cable i
London, April 2t*..— There is a sensible decline
'•-. the hysterics over the shipping trust. Th«
fanfr view now prevails that Britannia will
continue to rule the waves, even if the Am
can money power controls the combined trans
atlantic fleet, and that she will do bo because
rhe ha? ships and men. whereas Americans only
have organizing power and masses of surplus
capital. There has been a great deal of energy
expended in denunciation of the trust' tyranny,
hot the soberest writers for the press admit that
1: is utterly Impracticable to prevent the sale
of shipping property when the purchasers are
rich enough to offer terms sufficiently attractive.
If the British shipping lines had made a com
tftnatton among themselves there would have
seen no papular outcry apalnst it. The Railing
thing: to English pride Is that an immense ship
ping pool has been formed by an American
banking: house, and that the prestige of the
British money power has waned so that for
eigners can now undertake successfully to
finance the greatest Industries on land and Beat
The time when,. nil nations we:--- compelled to
corr.e to London to borrow money In peace or
war, and when new maritime and industrial en
terprises the world over were dependent upon
British financial support, has passed. An Amer
ican can now lend the British Government half
the money it requires for fresh Issues of con
sol?, an<i can effect industrial combinations un
paralleled in mercantile history. John Bull does
not like these foreign raids upon the world's
Fhipninp. nor these continuous, displays of
•American megalomania in organizations and
combinations affecting European Industries and
interests, but he does not know, how he can pre
vent the operations of the tremendous money
power. especially when directed by master
minds In finance.
There has been no official statement from Mr.
Morgan, who enjoins silence upon every col
league connected with him In these colossal
transactions; bat tnere Is now a general Im
j>r^sf!on among Hie stdnping offices here that
the Ipgue tor £:t4.<XnXoof) has been under
•written in America and here for the shipping
.combination, and that it may be increased
to fJUjWWLfWW if the Cunard Line be drawn
in, -with several smaller lines, and that the ar
rangement resembles in a general way that
made by Mr. Morgan in organizing the United
States Steel Corporation. Even if the Cunard
company remain^ outside, it is believed that
'there Trill be an agreement with it as with the
two German lines respecting rates. The steam
ship interests will be Americanized only in the
senpe of being organized and pooled by cap
italists of New- York, Chicago and Philadelphia.
' The shipbuilding interests of the United King- ,
Ware not displaying hostility to the scheme.
for the men on the Clyde and Tyne an
counting upon the defeat of the American^
shipping subsidy and the construction- of new j
ships for the trust in British yards. Timorous
leader writers remind them, however, that the
rapacious Morgan may go from one thing to an
other and buy up all the British shipyards be
fore anybody suspects the game. Wiser com
mentators assume that the effects of ruinous
competition may be counteracted by combina
tion, and that a further fall In ocean freight*
•will be checked and dividends increased. The
pessimists among them go further, and shake
heads ominously over the extraordinary expan
sion of American interests and organizing
power, and wonder. how much longer the gigan
tic operations In one industry after another,
largely on the strength of borrowed money, will
last. If the collapse in American buoyancy and
energy ever comes, from sheer excess of over
doing. British heads will be wagging in oracu
lar chorus. "I told you so." Meanwhile there
is an uneasy feeling that one British interest
after another hi being bought up for hard cash.
and that Americans are virtually running this
tight little island.
The steamship trust has been a godsend for
the halfpenny Journals during a stagnant week
in foreign and domestic affairs. Public Interest
in the debates in the Commons has lapsed; not
even the discussion of the revival of the old
time corn duties attracts attention, although
Their abolition was forced on by the best or
ganized agitation known in English history.
An autumn session for the passage of the educa
tion bill has been accepted .with bad grace by
the pl*a.«»ure loving Tory squires. Mr. Morlej-s
indignation over the Cartwrlght incident, and
Winston Churchill's alertness in copying his
rather*! manner and breaking away from the
T-nionlsts as an independent with ■ conscience,
have been the only episodes of a dull v.eek.
Foreign affairs have seldom been quitter. The
Russian measures for th* repression of Nihilist
f utrages are conducted with the usual secrecy.
but there is less discretion than is ordinarily
displayed in enforcing the conscription in Fin
land by drafts of Cossacks with whips.
" Queen Wilhelmina's Illness has saddened and
alarmed her affectionate subjects. She is virtu
ally the last of her race, for the two princes
named as heirs for the succession are thor
oughly Germanized and have little to show for
•-. diluted Orange blood inherited by them.
I «. elarmists nat.uraHy draw upon imagina
tion in forecasting the absorption of Holland by
Germany and the conversion of Java and other
Dutch dependencies into German colonies.
Events do not march so fast. Queen Wilhel-
B9SM Is holding her ground well against a
'treacherous disease.
Apart from the theatres, where there are two
•-changes of programme, little is going on In
London to-day. The King and the Prince of
■Wales have witnessed the lacrosse match at
• Lord's Grounds, and thereby helped to popu
larize the Canadian game In England. Lord
Alverstone and the French Ambassador are the
'chief figures at the evening banquets, and W.
H. rill *r Is the chief Saturday lecturer aT
the Royal Institution, with musical Illustrations
of national ■BSat*.
. There are two or three art receptions this
•afternoon, but the great events of the Academy
And the New Gallery are reserved for next week.
♦ Mr. Whistler has returned to London and set
tled down in Chelsea, apparently in peaceful
for there Is no fresh art controversy
•The most remarkable achievement of the new
men Is the recognition which they obtained at
•the Wolverhampton Exhibition. Wilson Pteer.
iontluiK.l on fourth ,iuu«
Laurel Houne— Laic wood-Open until June.
L*ureJ-in-the-Ilnss-Open until May l^The most
bcauWf ul season of the year.— Advt.
Several members of the Rapid Transit Com
mission, including: Alexander E. Orr, Charles
Stewart Smith and John H. Starin. were the
guests of August Belmont and John B. McDon
ald yesterday, in a tour of inspection of the
subway. The party started from Union Square
at 9 o'clock In five automobiles, and took lunch
eon at the Claremont. At each section Mr. Mc-
Donald had the respective sub-contractor con
duct the visitors aldng Ihe line of his particu
lar work.
The members of the commission made a spe
cial examination of the subway in the neighbor
hood of Thirly-eighth-st., the scene of the re
cent cave-in. At Fifty-ninth-V., where, as
shown in The Tribune yesterday, the subway
has been roofed over, the party was taken into
the excavation and shown what had been ac
complished. The methods of construction and
the machinery used wen all explained to the
commissioners. After luncheon the party con
tinued further north to the termini of the two
branches In The Bronx. At the end of the tour
Mr. Orr said*: •
"There were a few sections where I was a lit
tle disappointed, and there the sub-contractor
was taken to task by Mr. McDonald: but there
was far more to praise than to blame. I was
especially pleased with the work about the
park and 'the. approaches to some of the sta
Mr. Orr declined to say at what places It had
been found necessary to make complaint. He
said that probably after the commissioners had
talked their trip over together they might make
Borne statement for the DUblic Their course
would be decided at the next meeting of the
Mr. McDonald took occasion to emphasize the
needs of an East Side tunnel, and after savins
that he expected to have the work finished far
ahead of the time set In the contract, he added:
• The Brooklyn and the East Side tunnels have
got to be done, and the sooner they are begun
the sooner they will be finished. The talk about
the lack of funds is out of place. All that would
be needed to get the work well under way would
be a couple of hundred thousand dollars."
Others In the party were Perry Belmont.
George H. Wright, James Jordan, E. B. Bryan,
«.eorge M. Lane. Andrew Freedraan. George W.
Young; Cornelius Yanderbilt. L. B. Btillwell.
George Gibbs. J. Van Fleck. S. B. Deyo. Whit
ney Warren and Chier Engineer Parsons.
Mr. Holbrobk, of the firm of Holbrook, Cabot
& Daly, yesterday informed Superintendent
Stewart, of the Bureau of Buildings, that in a
few days they would begin underpinning three
large buildings at Elghteenth-St. and Fourth
ave. The firm are sub-contractors for the rapid
transit tunnel' from Coat Jones-st. to Thlrty
fourth-Pt. There is to be a station at Eigh
teeath-st. and before the work on the station
proper will be begun the underpinning will be
put in for the three buildings in question. These
are the Hotel Clarendon, on the southeast cor
nor; the Hotel Belvedere, at the northwest cor
ner, and the Bradley Building, at the south
west corner, in which the Bureau of Buildings
is housed. It is said that the Florence, the
apartment house at the northeast corner, will
not be much disturbed, but the Bureau of Build-
Ings will probably be on stilts all summer.
The Rapid Transit Commission has decided
to adopt the amended form of contract for the
proposed Brooklyn tunnel. It will demand that
bidders for the contract state just what facil
ities they have for handling passenger* at each
end of the tunnel, and whether they will charge
only a five cent fare for transportation to points
en car lines beyond the tunnel.
It if expect*..: that the bidder* on the work
Will be the Lon< Island Railroad, the Brooklyn
Rapid Transit ar.-I John B. McDonald.
fCoprriifht: uvt: By The TrtboM aswclettoß.)
r^pwlEl to The Trilmr.p by French Ob!* !
Rome. April Dispatches here reported the
arrest of "several men from the man-of-war
Chicago. Particulars received have made it ap
pear that ten men of the Chicago, some in uni
form and some in mufti, became drunk and be
gan a disturbance in the square of at. Mark's,
breaking plate glass windows, smashing chairs
and insulting onlookers.
"When the police interfered, because of the dif
ference in the language the men misunderstood
one another, and the Americans, turning on the
police, fighting, dealt heavy blows. Five ar
rests were made. The trial began to-day and
will be concluded on Monday.
<Q>p>Ti*ht: 1«C: By The Tritmn« Association.)
[.«r*cial '» Th Tribune by French Cable.]
Rome. April 26.— The Pope was on the point
of officially announcing that Monsignor Falco
nio. now the Apostolic Delegate at Ottawa,
•would replace cardinal Martinelll at Washing
ton and that Monsignor Zardetti.- ex-Bishop at
St. Cloud. Minn., would have the office at Ot
tawa, but the announcement was postponed,
Monsignor Zardetti lying at the point of death
from pleurisy nt Home.
cribk-ti:ihf. TWICE DEFEATED.
Washington. April 26.-The State Department
has been informed by cable from Bogota that
fierce fighting is going on near Guatavita. forty
five miles from Bogota. It Is reported that fif
teen thousand men are engaged.
According to government advices, the army of
General Uribe-Urfhe. the revolutionist, has been
twke defeated and is retreating. The govern
ment forces continue to advance.
Vienna. April *— A dispatch to the "Allgemeine
Zt itung" from St. Petersburg, published to-day, an
nounces that serious riots of strikers have t&ken
DUVM at Moscow, and that the military dispersed
the rioters with much bloodshed. One report says
that fifty persons were killed or wounded.
Revolts of peasantry in the provinces of Southern
nn M i, the dispatch adds, are causing a morn
P ;"h*;i situation, particularly at Kleff and Pol
tTva where the trbops were required to suppress
th«- outbreaks.
Dublin April tC.-The. first prosecutions under the
proclamation issued recently by Karl Cadogan, the
1 ord Lieutenant of Ireland, putting In force three
sections of the Crimes act in many districts of the
country resulted this evening In the sentencing of
Mrs ' O'Mahony. proprietor of "The Waterford
Star" and H. Lynharn. the editor of that paper, to
sixty days* imprisonment each. Mrs. O'Mahony
and Lynham were convicted on a charge of lntimi-
H Q ti.>n" in preventing tenants from using their
farms Mrs P O'MahonV was admitted to ball in £200
Th, intimidation is alleged to have consisted of
nuMkai "• is in "The Star" which tended to prevent
thetewful occupation of land from which tenants
had been evicted. . .
_„, r. 9 « to enter the great through trains of the
S>w-York Central at Orand Central Station. In the
c.-ntr* of the city otNew-Yorlfc-AivV
After a session of nearly five hours yesterday
the representatives of the coal operators and
the anthracite miners failed to reach an agree
ment at their conference before the conciliation
committee of the National Civic Federation,
though the conference was carried on in a
friendly spirit and the belief at the end of the
meeting was that a step further in the Interests
of peace had been taken. None of the points at
Issue were settled, and a joint sub-committee of
employers and employes has been appointed
from among the conferred to try to open the
deadlock. This committee will meet on Tues
day at noon in the office of the Central Railroad
of New-Jersey, In Liberty-st.. and will report at
a meeting to be called a few days later.
The conference was held yesterday In an as
sembly room on the second floor of the Mission
Building. No. 281 Fourth-aye.. and began at
10:30 a. m. Both the coal carrying companies
and the independent operators were represented,
John Markle representing the latter. The labor
representatives— President Mitchell and John
Fahf-y, T. D. Nichols and Thomas Duffy— were
reinforced by a delegation of more than twenty
members of the United Mine Worker* .They
-.'■<■ .ibont the firm to nrrirV. V. 'Ml: ; Trt^'JAuv
president of the (Wt»war*, iJackfiwunna nn<i
Western Railroad; G. F. Ha«»r. president of the
Philadelphia and Reading Company; K. B.
Thoman, chairman of the board of directors of
the Erie Railroad Company, and Robert M. Oly
phant. president of the Delaware and Hudson
Canal Company, appeared for the coal carrying
companies. The members of the conciliation
committee who attended were Senator Hanna.
chairman; Ralph M. Easley. .Oscar S. Straus.
Cornelius N. Bliss, Bishop Potter. Charles A.
Moore, Marcus M. Marks, president of the Na
tional Association of Clothing Manufacturers;
Charles A. Moore, president of the Shaw Electric
Crane Company; William H. Pfahler. of the Na
tional Founders' Association; Samuel Qompers.
president of the American Federation of Labor;
James Duncan, general secretary of the Granite
Cutters' National Union, and John Mitchell.
who also appeared for the miners. Lewis Nixon
was there as a member of the industrial com
mittee of the federation.
It was agreed that the thirty days' truce,
which expired two days ago, should !>»• extended
until all the negotiations were over. Senator
Hanna. in opening the meeting, advised ' tol
erance on both sides. He said thiit any exag
geration should be avoided and th.- rights of
ea.-h side respected by the other. He saw no
reason, he said, why the conference should not
be conducted tn a fair and frlrndly spirit.
The conference was behind closed doors, but it
■was learned that tip to 11-'I 1 -' o'clock noon all the
points at issue were discussed at great length
by Mr. Baer and Mr. Truesdale for the operators
and by Mitchell and Nichols for the miners,
the discussion resulting In a deadlock on all
points. Shortly after noon h brief statement
was given out by Secretary Easley of the Civic
Federation, in which he eaid:
"So fnr the discussion has been a friendly one,
without a trace of bitterness. This does not
indicate necessarily, however, whether or not
there will be a settlement.* 1
Members of the labor delegation who cam»
out declined to talk, but looked discouraged.
Bishop Potter, who left the meeting an hour
later, said he felt very much encouraged.
■ The situation, to my mind." he said, "is far
more hopeful than it was ten minutes ago. I
am In good hopes that ■ strike may be averted.
There has been a deadlock, but the feeling has
been a friendly one. As this conference cannot
settle the disputed points. th»y have been re
ferred to a smaller committee."
Bishop Potter praised the labor delegates, say
ing he was very much impressed with their
moderation. He added:
"The union men are acting very well, and I
wish some one would advise some of my min
isters to talk as well as they do. The whole of
to-day's proceedings will form a tremendous
precedent. They are bound to have a great in
• When the meeting was over Oscar S. Straus
said that the conference, while it did not result
in settling any of the disputed points, had the
effect of clarifying some of them.
Senator Hanna was asked if the subject of
recognition of the union had been discussed, and
replied that it had not come up.
Mr. Hanna announced that the sub-commit
tee consisted of G. F. Baer, E. B. Thomas and
W. H. Truesdale. representing the operators,
and John Mitchell, John Flahey, T. D. Nichols
and Thomas Duffy, representing the miners.
Neither Mitchell nor his co-delegates would talk
as to the prospects of a settlement. Regarding
recognition of the union Mitchell said In reply to
a question:
"I have nothing to say about that. The union
has been recognized to the extent of the ap
pointment of a committee to hold conferences
with union officers. I really don't want to say
anything Just now."
Senator Hanna said that he would return at
once to Washington. President Gompers of the
American Federation of Labor said that he
would leave the city early to-day. Mitchell and
his colleagues will remain ; for some days.
This Is the opinion expressed by an English ex
pert on block signala when speaking of the New
Sort Central.— • " ■••*■- - ~ -
Washington. April 2& — It Is regarded as high
ly probable that H. 6. Squiers will be the first
! Envoy Extraordinary and Minister Plenlpoten
; tiary from the United States to the Republic of
Cuba. -In fact, the appointment of Mr. Sqadere
has virtually been decided upon, and unless
something' unexpected occurs to change the
President's mind, it is thought that the selec
tion will be announced In a few lays. Mr.
Squlerg is a. citizen of New- York, and since ;
1808 has been secretary of the American Le- i
gatlon at Peking. He took a conspicuous part t
In the defence of the besieged legatloners in the
anti-foreign demonstration at the Chinese capi
tal In the summer of 1900, and Is regarded as
one of the most accomplished and astute diplo
mats in the service, of the United -States. Mr. j
Squlers hag the support of Senators Platt and •
Depew, as well as of many well known men ;
In private life all over the country. For the j
last two weeks the President has had under con- j
sideration for the chief diplomatic post at
Havana, besides Mr. So,uiere. Herbert W. Bowen,
of New-York, who is now minister to Venezuela,
William L. Scruggs, of Georgia, ex-Minister- to
Venezuela, and H. Clay Evans, of Tennessee,
now Pension Commissioner. Mr. Bowen is giv
ing such marked satisfaction at Caracas that it
is not considered advisable to remove him from
that post at present. Mr. Scruggs has an ex
cellent r< oid as a diplomat, but Georgia already
ha« "'"• .clti/.r-n in an important diplomatic .post '.
in Pc ;«•»-..•■! •■(■ A!ini!U.; Buck, Toki... M
} Evfti.*. it is understood. I? not particularly anx- j
j ioua to atop so near home if the President carries I
' out his original purpose of putting the Tennes- J
! neean In th* diplomatic service when Eugene
' Ware, of Wirsaa, succeeds him as Commissioner
; of Pens'. >M. Hence tin choice as between fh*» :
four names mentioned has fallen on Mr. Squier*.
It is now the intention to provide for this
'■■ country proper representation at Havana Iby '
• placing on the Sundry Civil bill in the Senate a
j rider for the appropriation of money for th" pay
of the legation, and also for the remuneration
i of the consuls to Cuba already recommended by
■ the. President. Of course, no difficulty will .«•
i encountered In thus providing the legislation
I necessary to support the representation in the
! Republic of Cuba recommended by the Pr^sld^nr
I in a special message to Congress about 8 month
j ago.
(Coprrigtt: IMS: tsy Th.- TrttMtM *»eoetartoiiO
Bayamo, April 28.— The remains ->f Senora |
Csndelaris Talma, th^ mother of the President
elect, were to-day placed in 8 vault in the ceme
tery here. <.juit- a contrast were the ceremonies
with those of thirty-two years :ii;n. when :h
young patriol buried his mother, who was a
victim of Spanish cruelty, ar.d marked the spot
with a w len cross, out of respect to th
ni. mory of the mother of Cuba's first President
.very ftore closed during Ihe funeral. Every
ii;,- was halfmasted, and every one who pos
sessed black clothes wore them. Only the toll
ing of the chur.h bella were to !»■ heard after
the maps at the church.
There was a march Of about a mile and a half
to the cemetery. Generals Robi, I.ora. Capote
and SalcedO were pallbearers, but were relieved
alternately by other veteran officers of the Cu
ban army. General Palms walked with head
bowed. f>n either aide of him were Assistant
Secretary of State Figueixlo and Gonsalo
Quesada. Then followed Mayor Honet. other
members of Palma's party and about two thou
sand men and women, some of whom had knuwn
Senora Palma. The old general bore up bravely.
While Witnessing the last rit^a at the cemetery
he stood besid'- the tomb with tear dimmed eyes
until the tomb was securely sealed.
A marble tablet »«s placed on the tomb,
which read:
"Candelaria Palmfl. whose beloved son Tomas
has returned after thirty years and given her
a Christian burial."
Many elaborate wreaths were placed on the
General Palma spent the afternoon in visit
ine the public school and the hospital. He ad
dressed the teachers and pupil!-, saying that
public instruction should receive from him every
encouragement. and that he intended to give
much attention to the proper education of Cu
ban children. The pen. he said, should replace
the machete in Cuba, and that the future of the
country depended in great measure on the train-
Ing of "her future citizens.
Washington. April 2t!.— When the Senate met
to-day Mr. Jones, of Nevada, chairman of the
Committee on Contingent Expenses, reported
favorably the resolution of the Committee on
Relations with Cuba providing for an investi
gation by that committee of the alleged control
of the Cuban sugar crop by the Sugar Trust.
Mr. Teller, of Colorado, who introduced the
resolution, said it was not what he wanted, and
not what he thought ought to be passed. Mr.
Teller denied that he had ever said the Colorado
sugar producers were willing to have the duty
taken off sugar. He made this statement in
• i.w of puch a remark having been attributed to
him by a. witness before the Ways and Means
Committee. He would not object to a reduc
tion of the duty on sugar, he said, if there were
also a proper reduc tlon on other things.
The resolution was adopted without further
Hiram Kicker * Sons, proprietors of the cele
brated Poland Water, guarantee tt absolutely pure
For supply, telephone Poland Water Depot. booO
CorUandu'i Park Place. Sbk Yurk Clty.-AUvt.
fCopyrHht; 1W?2: By The Tribvn* A»aocl*tloa. ]
WITH A CAPITAL OF >*■>.* mnumim.
For several weeks past report? have been
current in Wall Street and occasionally in the
daily papers of the organisation of a new copper
company to consolidate and take over the vari
ous properties In Montana controlled by F.
Augustus Heinzs ami his associates. The re
ports have been b;ist-d on the presence in the
city for two or thru- months of John MacGin
niss. vice-president of the Montana Ore Pur
chasins Company, and the other Heinze cor
porations. Hints of the negotiations Mr. Mac-
Ginnfes hfis been conducting leaked cut through
various sources, bat until jtsnrowy Mr. Mac-
Glnnisa has declines' to confirm them far publi
cation. Now. however, the negotiations have
been completed and the incorporation papers
drawn up and signed. The new stock will not
be issued for some time, but it is expected that
certificates representing it will appear on the
curb to-morrow. Last night Mr. Ms I fWssiilßi
made the following statement as to the hauls
on which his negotiations have been brought
to a successful issue:
The papers have gone to Trenton. N. J.. and the
new corporation will be known as the I a* ■•-
Copper Company of Montana.
Its total capital will be fco.oi«.oui). consisting -of
$."0ir)f»«» 6 per cent preftrrwi stock ami >id.W*>,'J»J'J
coirimm stqek. Of th. latter- $30.0uO.OOU [will b« . re
tained In the treasury," sad will 'only "be issued to
acquire m- vr properties.. On Monday certificate* for
th? new common stork when issued will b.- d«Ut
in for the first time OS the curb. The preferred
stock will not be d»>alt in.
This holding company will have in Its treasury 5
per cent of the capital stock of the following
companies: t^ ,
The Montana Ore Purchasing Company; capital,
100,000 shares par value $25.
The Nipper Consolidated Copper Company; capi
ta!. 150.000 shares, par value J25.
The Minnie Hea'.ey Copper Mining Company; cap
ital. 2.000.CW : hare?, par value Jl.
Tne Corra-Rock Island Copper Mining Company;
capital, 2.000.000 share?, par value SI.
The Belmont Copptr Mining Company; capital.
1.0'0.U00 shan par value $l.
In addition to th- 36 p*r cent of stock of these
companies, th* holdings company will have as as
set* all of the J1.000.000 of nrst mortica^. bonds of
the Montana Ore Purchasing Company and the
f&il)0,OQO first mortgage bonds of the Nipper com
pany. Aside from these mortgages, the parent and
subsidiary companies are f.-•f .-• - from debt, ami th
new holdings compnay will therefore hay«- no bond
ed Indebtedness.
There .*:■• already in th- treasuries el the sub
sidiary companies earnings sufficient to pay the ••;
per cent dividend on the new preferred •■'■<• so
that all surplus earnings from this date can be ap
plied to dividend." on th« common stock
Great savings hi Interest and other fixed charges
v ill bi expected by ;:..• new company, which will
inure to the benefit of tat common stock, and will
be in addition to the profits ni:-.i!-' on the sale of
copper. Indeed, these savings will go :i long way
toward pa j ing t'-e dividends on the preferred, thus
leaving the profits on on» copses sales for the
The subsidiary compacUa of the United Copper
Company of Montana have thus far this year pro
duced three and a half million pounds ■' copper a
month, or || th* rate of forty-two million pounds
of copper a yi-ar. . ,
That is .* production ■■" forty-two millions of
copper per annum Is capitalised at aW.00D.060 Of the
annual production of its subsidiary companies, the
Amalgamated Copper Company owns MB.MS.tIW
pounds. whK-h la capitalized at 1T0.000.0W.
If the sa n<- ratio of capitalization and mlninKS
be taken as exists it. the ruse ol the Amalgamated,
it Is figured thai the ste k of the I'nited Copper
Company of Montana should sell at 363 a share.
This comparison, however, only takes into account
capitalization and output and makes no note of the
fact - generally conceded In Montana, that the
United Copper Company of Montana produces cop
per more cheaply than the Amalgamated ■!'»" we
believe th:it we produce It ! cent- a pound cheaper
The extensive copper litigation that has been, and
Is betas waged in Montana, together with the ••on-
Beatlent' political expenses arising therefrom. It is
estimated has added over two cents a pound to the
cost of production on «>ach and every pound of the
copper output of the Butte camp. The annual out
put of the Butte camp i* MB.MMM pour.'!.-, and
could this unnecessary legal expense be eliminated,
an annual caving of «.»*>.«» would be effected.
The production of the Montana Ore Purchasing
.•ompanv alone last ye«r was ».W».n» pounds, and
it* r-irni'nes on actual operations wen- n.aSRMS.
In the three years that bawe elapsed skere the
Amalsnmated Copper Company was incorporated,
the Montana Ore Purchasing Company has de
ctared in dividends $1,522.™. These ■ figures have
bier i verified by I*loltte. l>evcne * Griffith*, pub
lic chartered .accountants* of London in i New
*Thp subscriptions for underwriting the United
Conner Company of Montana in two days were
double th ""mount of stock ottered, .md this under
£ ri.inr N distributed in France. Switzerland. Ger
many I loUaii'l KnKland and the United States.
St Petersburg. April »-« is said that General
BobrUna will shortly be relieved of the post of
Governor General of Finland, in consequence of
his lack of tact and undue severity, which have
inflamed public opinion among the Finns almost to
the point of a revolution.
HeUlngfors." Finland. April 26. -The . municipal
authorities here have decided to organize a v01un
..,.. corps for the maintenance of public order, on
the condition that the trovernment employ no
troops, excepting the Finnish. Guards, for police
purposes. _
Vienna. April 26.— Inquiries made here to-day
elicited the statement that the engagement of the
CoORtCSS Henrietta Chotek, sister-in-law SB the
heir presumptive. Archduke Franz Ferdinand, to
Prince Stanislaus Radzfwlll. was broken off over
■ week ago. that this waj In no way connected
with the prince's debts, and that, therefore there
la no foundation for the report, published by a
laws agency in the United States, ' tat their mar
iHsr- ceremony was broken off in church, at
Prajut*. Bohemia, yesterday.
Rome. April 26.— 1n the Chamber of Deputies to
day Signer Prinettl. the Minister of Foreign Af
fairs, in denying that Italian action was responsible
for the rupture of diplomatic relations between
Italy anil Switzerland, said he confidently hoped
tor an early, honorable and satisfactory settle
ment of the matters in dispute. > v-.-
Steamer Shinnecock. Montauk Steamboat Co.
line will leave New-York. Pier 13. E. R., on Tues
days Thursdays and Saturdays, at 5 p. m.. com
meuclEj; A»rU ffl.-Advw ■■„. ";-"•
Jamaica was the centre of the local automobile
world yesterday. Its quiet streets were thronged
with scores of autocars of every sort, the surrey
and the police patro!. the latest French racing
machine, and the go as you please- pleasure
wagon, were represented and met on even
terms, for endurance and not speed was the
prime requisite In the hundred miles run over
the Long Island Automobile Club course. Fif- "
teen miles an hour, the legal rate of speed, waj
all that was allowed the rebellious chauffeur,
and the 24 horsepower racing wagon and tlvj
'2 horsepower surrey were on equal footing.
But careful as the Judges were to provide
against excess of speed, with penalties and dis
qualifications, they could not wholly curb the
racing propensities. When the level road
stretched far and straight, and the speed loving
chauffeur hear the 'chusr. chug, chug" of a rival
machine behind him. the impulse to "let her |
hum" was trr<^iattM<\ and many a thrilling
an.-l unrecorded contest was fought out along
the remote and unguarded portions of the trail.
Many, also, were the drivers who raced their
machines to the finish line, only to be disquali
fied for neglecting the time regulations.
The sensational incident of the day was th«
run of a French machine, driven by Emil
Volght, who drove the same machine in the
Paris-Toulouse road race last year, and took
second honors. This machine was not entered
in the race, but ran over the course for a speed
trial. The trial was satisfactory, but the speed
was something to .nake couniry constables gasp
and furnish village story tellers with material
for a doz»n winter tale?. Missing thtj road,
Voight made a detour of five miles. This and
the one hundred miles of winding road 3 were
covered in two hours and twenty minutes.
Although trie official start was scheduled; for
10 o'clock, the main street of Jamaica was
crowded to overflowing long before 9 o'clock.
For nearly a mil*? the proce«?lon of automobiles
stretched in a single flip along the sidewalk.
There in all his glory was the automobile crank. -"
His face was veiled behind the racing goggles,
his body swathed in leather garments, soon
white with driven dust. Officials decorated with
ribbons or various colors expostulated, com
manded, and remonstrated; owners fretted and
fumed, awaiting the -tart, and to all this dis
order was added the tooting of the auto whistle
and the puff of their «»gin»>».
Horses in the streets plunged and reared at
the noise and strangeness of the cars, . and
motormen In the streetcars alternately »wore
and trembled as their cars crept down the
crowded streets, missing the careless* sightseers
by a hairbreadth.
At 9:30 there was -> -■.*.'.-■ stir, and an of
ficial announced that the race would commence
half an hour ahead ol time, oh account' of the
large number of entries. A moment later the
crowd opened, and a car drew up to the Une.
Th re was a short consultation of officials, th*
occupants of the car turned up their leather
collars, adjusted their great goggles and the
chauffeur fingered his brake nervously. It was
just 9:34 when Frank G. Webb, clerk of th»
course, shouted "Go!" and the first contestant
whirled around the corner, and started on th*
hundred mile run. A few seconds later the
second machine was off also, and for over art
hour the autos continued to depart. It was
nearly 11 o'clock when the last of the sixty
seven cars was dispatched.
No sooner was the race on than the centre
of interest shifted to Roslyn Hill, the scene of
the great hill climbing contest. Twenty and
one-eighth miles from the start the road, after
following the Pound for some miles, turns sharp
ly, and climbs up at a very 3harp grade to the
top of Wheatley Hills, the highest elevation on
Long Island. At the foot of the hill Is a red
roofed water tower. As the contestants reached
this point they were warned of the approach-
Ing hill. Getting a flying start, they rushed
on past the line and up the three-fourths of a
mile stretch of grade. As the road nears the
summit of the hill it sweeps around in an 8
shaped curve, at the top of which were gath
ered nearly a hundred watchers.
It was after 11 o'clock when the labored grasp
ing of an engine behind th» hills warned the ob
servers of the approach of the first car. Down
In the dusty road two puppies were gambolling
playfully, and a rooster was marshalling his
flock in the public highway. Suddenly there
was a low gurgling roar, a whirl of flying dust,
and No. 3. a 1,700-pound racing wagon, driven, •
by George Co&k. charged up the road. There
was a rush for cover, click of the recording
watches and the wagon had passed. Down the
read two terrified puppies were crawling out of
the gutters, and the panicstrlcken poultry had,
vanish'-d in the underbrush.
One by one in quick succession the oth»r con
testants follow, d, low cut racing machines of
many horsepower rolling up the hill at railroad
speed, lighter carriages and pleasure runabouts
wheezed and puffed with asthmatic affliction as
they crept up the steep ascent. Here and there
a machine gave out under the strain, and a
discomfited owner laboriously pushed his car
up the long hill, enduring the taunts of the
onlookers «n grim silence. Particular interest in
this climb arose from the fact that aside from
the cups offered by the club, a member of th*
board of directors had put up a special cup for
the driver making the best time without regard
to the rest of the course.
The record time of the climb was made by #
Ernest Cuenod. vice-president of the Automo
bile Club of Switzerland. After a false start
and an enforced retracing of the course Cuenod
made the three-quarter mile climb in 1 min
ute 19 seconds. Second best time was made '
by No. 7, driven by Harry S. Wood worth,
which covered the distance in 1 minute and
4O seconds. As all these machines were dis
qualified later, an unofficial statement was given
out last night that No. .V. was probably the
After passing Roalyn Hill the course wound
along Hempstead Bay and on to Oyster Bay.
Here it turned to the south and went straight
across the island to Maasapequa, and along the
ocean to Preeport. Turning again, the route
went north nearly to Hemp- . . Bay. and then •'
wound back through Hyde Park. Queens and
Hempstead to the starting point. Not merely
did the course afford a variety of road, stretches
of level, straight macadam, winding reaches and
During April the New York Central and the West '"■;'
Shore will fell colonist tickets to Salt Lake. Ogden.
Butte. Helena and Anaconda at very low rates.
Inquire at ticket offices.— AdvU " sJBU

xml | txt