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RAILROAD REGULATION. MR. KNAPP FAVORS MORE. Too Much Now, Says President Elliott of Northern Pacific. Washington. May — Martin A. Knapp, chair man of the Interstate Commerce Commission, was heard by the Senate Committee on I^ter etate Commerce to-day. He referred to the doleful pictures railroad men had drawn of the conditions which would prevail should the pros- | pective legislation be enacted. He did not favor a radical departure from the present and beneficial law. but desired to have Its defect* corrected and Its weak point* strengthened. Discrimination against a community on account j of a smaller charge for a long haul than for a snort haul could be corrected under the present law. and some Increase of restraint should be provided. He referred to the statement filed by indent Stlckney of the Chicago Great West era Railroad, and remarked that Mr. Stlckna/ was always surprising:, whether filing a state- ; ment or making a tariff. Commissioner Knapp did not believe In th. ar gument that there was danger of Inflexibility la ; rates or of fixed mileage rates in casa the pro posed legislation was adopted, as seemed to be feared by the railroad men. Notwithstanding the fluctuations In the price of cotton, there had been no change In transportation on cotton m ten years. Mr. Knapp cited this as an answer to the assertion often made that rates must con stantly change to meet changed conditions. Something should be done, he thought, toward compelling carriers having short line connections to unite In making through rates. Mr. Knapp did not regard the courts as the best remedy for unreaeonabla rates. "If you want to regulate railroads," no said, "do It your- Belres and do It by legislation. If you don't wart to regulate them, leave It to the courts." If there was any "way to correct an unreasona ble rate except by giving a tribunal power to substitute another rate for it. he would be glad to have it pointed out. Howard Elliott, president of the Northern Pacific Railroad, told the committee that he agreed with the President when he said the great highways of the country should be kept open on equal terms to all, and that rebates should cease. He opposed giving any govern ment commission power to fix rates, terming it a socialistic plan, which would adversely affect many people Interested In the prosperity of rail roads, not only the investors, but the employes. He asserted that the present laws are sufficient to regulate properly the railroads. There was. perhaps, too much regulation now. American roads were compelled to meet the competition of Canadian roads and water rates to the Pa cific Coast, which caused complaints at interior points. Discrimination between localities would always exist, because of geographical condi tions Ha advocated cutting off free transporta tion and half rate tickets to government and State ofAciaia an i others. Mr. Elliott was asked about the situation at Spokane, where higher rates are charged than to Pujtel Bound points, and he replied that It ■was a difficult case and the railroads were try- Ing to effect an adjustment. He again referred to the Influence of competition at coast points, and fald that in April the Canadian Pacinc had Increased its traffic from points east of the Mis sissippi River to Seattle 100 per cent, while that B\of the Northern Pacific had increased but 15 m) per cent. ¥ Mr. Clements, of the Interstate Commerce " Commission, was heard again. He thought there were some abuses at terminals and elevators, where short terminals were owned by shippers. He believed that terminal and other abuses have grown up since the passage of the Klkins law In attempts to evade that law. The Elkins law, however, had done a great deal to stop other — ' abuees. Mr. Clements would not say that giv ing the commission power, to revise rates would prevent rebates. His view was that all that was contemplated was to give the commission power to correct an exorbitant rate. He had never advocated a minimum rate regulation. William A. Hover, representing the Denver Traffic Bureau and Chamber of Commerce, wanted legislation giving the Commission power to Ox rates, to correct what he called gross and unfair discrimination against Denver in favor of Missouri and Pacific Coast cities. He sub mitted tables of rates to prove his contention. He said five men practically control transporta tion west of the Missouri River. Russell B. Stevens, of Sacramento, a horti culturist, criticised the Armour car lines. He Bald he represented 95 per cent of the fruit growers of California, and asserted there was a. combination between the Fhlppers and the car line company, which resulted in injustice to the growers. H. B. Browne, attorney for the Atchlson, To peka and Santa F<\ denied a statement which had been put in evidence that an official of that road had acknowledged giving rebates. H. B. Fuller, representing railroad employes, made an argument in favor of the employers' liability section of the Esch-Townsend bill. SCHOOLS ON NAVAL RESERVATIONS. Public Education Association Perfects Plans for Their Establishment. Washington, May 20. — With a view to arousing ray nal iuterest In an effort to Induce Conßresa to pnvide for the establishment of public schools on naval reservations, the Public Kducation As sociation of Washington to-night held a meeting at which I'lans were perfected for carrying on the work. Already such schools are In opera tion on military reservations, but none so far have been placed in navy yards. In his last annual niL-ssage to Congress President Roosevelt rtty for providing schools of that character, a u -i it was in furtherance of that aendarton that the association met to night. It Is • .\t ' ted that the citizens of the e*»venil Ftates where navy yiirds are situated will Join in the movement begun in this city. Boys' Wash Suits. Sailor and Russian Suita with Eton or sailor collars ; of white and colored ducks and linens, plain and striped seersuckers, galateas and fancy cottons, also black and white checked cottons ; Russian "Style, 3to 8 yrs. . . .$2.25 to $5.50 Sailor style, sto 12 yrs. $2^5 to $3.50 Soya 9 Reefers, of white ducks, galateas and piques, all white or colored collars and em broidery; sizes 2 to 8 yrs. .$3.00 & $6.00 Kilt Department, One - piece Dresses, of colored chambrays, linens, galateas, lawns, pongees and piques ; sizes 2, 3 & 4 yrs 95c. to $4.50 Russian Suits with bloomers of similar wash materials; sizes 2, 3 &4yrs $2.00 to $10.50 60-62 West 23cJ Street. COMPLETING PREPAEATIONS FOR NEW-YORK'S MUNICIPAL OWNERSHIP EXPERIMENT. MATCH* arCI/BMUAX ASCENTrtW* T.AMMSR MIBS MAS DAVIDSON. TO THE BOAT. Who named the Richmond. LAUNCH OP THE FERRYBOAT RICHMOND YESTERDAY. MORTON'S RESIGNATION. His Successor Not Definitely Se lected Yet. [JT&OM THE THIBUXS) BUREAU.] Washington. May 20.— The President has not yet determined on a successor to Secretary Mor ton, and Mr. Morton will not retire from the Cabinet until his successor is chosen, although he is anxious that one be selected as soon after July 1 as possible. Secretary Morton's retirement, although long anticipated, is the occasion of sincere regTet to the President, who has done everything possi ble to Induce him to remain. When Mr. Morton first entered the Cabinet In July of last year, It was the understanding that ho would remain only until after the elec tion, but the President persuaded him to hold the naval portfolio until March 4. hoping that he would become so interested in the many im portant problems -with which he was called on to deal that he would prolong his stay Indefi nitely. Then came the exposure of the Santa F6 rate case and the attacks on Mr. Morton In certain newspapers, and it is probably largely due to them that the Secretary decided to re main, while the President was only too happy to east a vote of confidence In his Secretary of the Navy by making out a new commission and sending his nomination to the Senate. Now, however, that Mr. Morton is no longer under fire, and the investigation of the Santa Fe case has pro'^eeded far enough to show that he had no connection with the rebate*) granted by that road, he has determined to retire, and is Impa tient of further delay. The Secretary's determination is based largely on business grounds. He is not a rich man, and he han many tempting offers under considera tion, while, aa is well known, tho salaries of Cabinet officials fall far below the figure needed to cover actual expenses. If Secretary Morton's place is filled by trans fer, Secretary Metcalf will Bucceed him, but If Mr. Mtftcalf can be persuaded to retain his present place, and that seems not Improbable, the Navy Department will go to some one out side of the President's present official family, and If the President has any names under con sideration for the naval portfolio he is not yet prepared to disclose them. ONE BEEF TRUST SUIT STOPPED. Montana Judge Holds State Statute Uncon stitutional. iBT TELEGRAPH TO TUB TRIBDSTB.J Helena, Mont, May 20.— Holding that the Montana statute violates the Constitution of tha United States, Judge Henry C. Smith, of the district court, to-day sustained the demurrer of the defendants In what are commonly known as the "beef trust" cases, and proceedings are therefore at an end, for the time being at least. The demurrer to the Information charging the packers with illegally combining to control prices of beef and beef products was on the ground that the information did not state facta sufficient to show a public offence on the part of tho companies. An appeal to tho Supreme Court will lie taken. NEW-YORK DAILY TRIBUTE. SUNDAY, MAY 21, 1905. THE RICHMOND LAUNCHED. MAYOR RIDES DOWN WAYS Port Richmond in Holiday Attire for Naming of City Ferryboat. The only one of the five new city Btaten Island ferryboats, built In a local shipyard, was launched yesterday at Staten Island. The waters of the Kill Yon Kull were at mean high tide when, at 9:45 o'clock, the signal was given by Borough President Cromwell for the workmen to cut away the blocks holding the boat fast on the ways. Miss Mac P. Davidson, daughter of the vlce-preeider.t of the Burlee Dry Dook Company, builders of the boat, broke a bottle of champagne on the bow of the craft. Never was there a more successful launching. The boat slid down the ways gracefully, and as she struck the water of the kllla a cheer v;cv.t up from the thousands of people that filled the ship yards, shores and Jersey flats. The boat cut through the water across to the Jersey shore, where a line was made fast to two tugs and fche was hauled back. On the boat as she slid down the ways were Mayor McClellan, I>ock Commis sioner Featherson, Thomas F. Smith, secretary of Tammany Hall, and several policemen. Aa the boat was made fast to the pier the first to step ashore was the Mayor, who thus fulfilled his promise, made a year agp, to return within a year on the deck of one of the new ferryboats. This promise was remembered by many who stood on the pier and a cheer went up for the Mayor. After the return ot the boat to the pier the Mayor and other officials and about three hun dred invited guests repaired to the mould loft, where a luncheon was served. The Mayor, who sat at the head of tha table; Commissioner Featherson, W. J. Burlee, President Cromwell, John J. Kenney, L. I* Trlbus, W. S. Van Clief, R. Grant Crabtree, H. P. Morrison, Sheriff Mc- Cormack, Sidney F. Rawson, Harry Dun Wiman, Thomaa C. Brown, E. P. Doyle, Maybury Flem ing, A. G. Wilson, general manager of the Mary land Steel Company; Franklin C. Vitt and Thomas P. Smith were among the guests. Many women were present also. Mr. Featherson. Introduced the Mayor. Cheer after cheer was given for him. In his address, after dwelling on the need of a new ferry ser vice, and the many problems that had to be overcome before it became a reality, tho Mayor said: A municipal ferry should be operated by a municipality, and with that in view the prob lem confronted la how should we operate the ferry. I realized that to be successful It was essential that It should be successful from tho start, and for this reason I signed the Burr bill retaining the employes of the present ferry from the pilot down. These men will be retained under the Civil Service laws. I am a believer In Civil Service because I know It stands ?or righteousness and good government. Commissioner Featherson Btaieii that plans were being prepared for the operation of a ferry to Stapleton and Port Richmond in conjunction with that to St. George. After tha luncheon the Mayor, President Cromwell, Commissioner Featherson, Fire Com mlasloner Hayes, Fire Chief Croker, W. J. Buriee, Miss Davidson and others were taken In three large automobiles to St. George, where they ascended to the top of the new Borough Hall. There Mayor McClellan unfurled a large American flag from the staff on the tower. The Mayor and city officials then boarded the Dock Department boat and returned to Man hattan. The houses and business places of Staten Island were decorated and a general holiday was observed. Hundreds of people visited tha new boat in the afternoon, and expressed ad miration of her lines and size. The menu was as follows: Bouillon en Ta*se. Colled Salmon St. Hubert. Lobster Salad. Chicken Salad. Boned Oipon and Truffles. White Marsh Virginia Ham. Uacedulne SuJad. Assorted Sandwiches. Olace. Gateau. a. H. Murr.m & Co.'s Extra Dry. W>.it« Hock. Cafd. Clears. The history of the ferry service between Man hattan and Staten Island makes Interesting reading. In 1685 tho Dutch traders In their early visits were obliged to get the Indians to ferry them to and fro in their canoes made of logs hollowed out of large trees, the work being done by heated stones. As early as IGBS there was a ferry between the two island*. It was controlled by the Dutch settlers. The first printed notice is found In "The New-York Post Boy" of November 10, 1775, and it tells a story as follows: Publick Notice Is hereby given to all Gentlemen Travelers and others, th*t Martin Ducket has tent ed the noted Ferry House on Staten Island, lately kept by John Watson, whore he intends to keep the best Entertainment for Man and Horse, with three good Boats constantly attending said Ferry to and from New-York and Staten Island. In company with Scotch Johnny of Bald City. Tavern-Keeper as also a commodious Stable, with all kinds 01 Provender, for Horses, &c. near the White Hall Blip, where all Gentlemen Travelers may be as sured of the best Entertainment for themselves and Horses, with the mont careful and exp<»au»yvu Passage across the Bay, or to Lone Island (If re q-iir'd). by applying to Scotch Johnny, near the White-hall l'erry stairs, or aald Ducket on Staten Island aforesaid: And In Cas« a Boat show'd be wanted in any Emergency, there shall be one In Readiness, on Notice Given to either of the Per sons above mentioned. Tha stage boat followed this Innovation, they being perlaguas. These boats are described as being without keels, heavy ieeboards, two masts and two large sails. Sometimes th'ise boats made quick trips, but often, with the wind and tide ahead, many hours were consumed. The fare was two shillings. The first steam ferry boat was the Nautilus, which made her maiden trip on November 29, 1817. She Btarted from Whitehall pier and made four trips a day. In 1831 the Bolivar, Captain Oliver Vander bilt, became a formidable rival to the Nautilus. Tha i.ew boat made seven round trips a day and the fare was 12 cents during the summer, but when winter came the price became 25 cents. The Marco Bozzarla was tne next rival, she making trips every two hours. The first real ferry war broke out in 1848, when Commodore Vanderbllt owned the line running from the east shore. The same year, or the following one, a great stride was made, for the boats were lighted with kerosene lamps, and many persons made trips in the evening. Just to see the new system of liarhtlng. Trips were then being made on both the north and east shores, and the fare ha.l been reduced to six cents. The steamers Thomaa Hum and Fora were in commission at this time and made more frequent trips. In IStK) the North Shore Furry Company was or ganized as a stock company. A few years later the Garner ferry was start ed, but the untimely death of Its founder caused it to stop In a short time. John H. Starln was the next to try his fortune, and he continued to run the ferry until the establishment of tho Rapid Transit Railroad en the island, about twenty-one years ago, when a lawyer dug up an old statute which stopped him. CANADA CONTRACT LABOR EXCLUSION An American Fined for Violating the Law. [FROM THE TRIBUNE DCK2AU.] Washington, .May 20.— The State Department has received a report from Consul General Foster at Ottawa, Canada, regarding the trial there of an American charged with violating the alien contract labor law. Frank K. Breckenrldge. the defendant. is the district agent of the International Harvester Company of America, and was fined $100 and sen tenced to pay the costs of court by Magistrate O'Keefe. Breckenridge's offence was the bringing from Ithaca, N. V., of a man named E. L. Day to act as his credit agent. Two other men were brought by Breckenridge from Ithaca to work In his establishment, but, as their employment dated back more than six months before the trial of the case, the magistrate said ha would not consider their cases. Day, the man responsible for Brecken ridge's fine, gives Syracuse as his home, but before going to Canada was employed by the harvester company at Ithaca. Before fining Breckenridge, according to t ie re port received from Consul General roster, Magis trate O'Keefe said some peppery things about "Americans who come to Canada and get positions that Canadians should have." He said that under the law he could fine the defendant, any sum from $50 to H.OOO, bat, considering the fact that It was the first case of the sort brought before him he would be lenient and let Breckenridse off with $100 Breckenridge'a attorney, Edward Mahon, gave no tice of an appeal to the higher court at Toronto The complainant In the case, who is supposed to be a business rival of the defendant is named G P. Splttal. Government officials who are acquainted with the facts in the Breckenridge case do not agree with Magistrate O'Keefe in his opinion as to his "leni ent" treatment of the American defendant. They think he was fined rather heavily under the cir cumstances, but have no criticism* to make. "When tin people of other countries come here they must obey our laws," said on official of the State Department. "And when Americana go abroad they must expect to obey in their turn " One noticeable feature of the case is that Day the man hired in this country, is not a "laborer." The Canadian law applies to all classes of workers ex cept artists, actors, lecturers, singers and crafts men employed in new Industries. STATEMENT ON TELEPHONE CHARGES. Member of Merchants' Association Investi gating Committee Praises Fairness of Rates. One of the members of the telephone committee of the Merchants' Association has recently con tributed an article to "The New-York Lumber Trade Journal" on telephone conditions. After re viewing the work of this committee he makes the following statements, which axe particularly Inter esting, coming, as they do, from one who has learned the Inside workings of the New- York Tele phone company: Wo believe that it can be truthfully said that this Investigation showed that the New-York Tele phone Company is treating its eubbcrlbers and customers with more liberality and fairness than any large corporation or monopoly, or trust— you like the word better— ln existence The credit for this reduction belongs entirely to the Merchant* Association and the organizations like the Lumber Trade Association which are mem bers thereof and to the fair minded consideration which tho telephone company gavo to the matter. 1 vL c ( ro . ls nothing in the office of any merchant in this city which gives bo much for tho money aa his telephone Bervice. and he can hereafter have the satisfaction of knowing that the charges are based on a fair return for the money Invested If all the corporations In New- York City acting under a public ■Use. were as fair aiiA square ftnd as liberal to their customers a« the New-York comThu ne Company there would be no reason to i- oin j ) 1 Hi n > PIERRE LOTI'3 CAT BHOW. Paris. May 20— Pierre Lot!, the author, Is con. ducting a cat exposition at Bordeaux. Th. are two hundred entries. ADVEBTISF.RB IN TUB TKIBI NX tiMxl 1.191 more columns In Hr.t four month* of 1903 than In corresponding month* of 1901. There is * realm f«i eTcrythln.-a Kvod <mo v (hl» lattice. The Financial World. People who tod joy in being downcast, whose chief pleasure is to worry, knowing no ecstasy approaching the bliss that He* In vision* of disaster, have been able to spend an agreeable week. Wall Street has been overrun by trouble and turbulence and-twadJle. Quotations have been knocked down sJo«g with rv^ -aeniatlons full of direful recitation and prediction. A me to current Stock Exchange ehronlclea all possible bad has con.c m pass eseept Ihs worst which is due next week. The •cartcroW list to long We have had German invasion of China, with coincident English and Fnnch embroilment over the Russian-Japan conflict demaniir.g floods of gold from the United State.; we have had "complications" flaunting in Pouth America; we have had vociferous proclamation of Panama policy, through which the United Is to boycott everything homemade. ftdfl| trade and abandon all vestige of protective tariff- and we have had the Steel trust fan cet lapse^-it is. Indeed, mild to record that the week's scarecrow list is long. Me-jntlmo, Germany h::s officially SMproved the Chinese invasion tales; France and Great Britain are found exchanging courtesies >****** of cartels; there is not a pingle ata—Tt—ble South American development, nor any threat ened; the new Panama policy Is revealed at merely the enunciation of a common sons- anfl common honesty doctrine, not at all striking at established American institutions or American policies; and what proceeds in the iron and Bteel trades is not only satisfactory but In spiriting, unannounced orders for thousands of tons of steel rails being this week registered by the United States Steel Corporation. In every department of business throughout the country prosperous conditions contlnu resentatlons to the contrary— lncluding crop dis tress forecasts— a ra fables Intended to Influence market fluctuation— Just so much rubbish. Such campaigning sometimes tells for a while— but never more than temporarily. Falsehoods have always an evaporating quality. Concoctions doing duty now cannot lon* last— for above everything else tangible in the United States to-day ia the splendid. Indisputable reality of National prosperity. In the face of that pessimism 1* merely in tellectual squalor. Facts are bound finally to force a market that Is normal. Among developments of the week not one Is actually bad for the present or possibly trouble some for the future— many are Important on the healthful and helpful side. Despite speculative hue and cry, progress Is made In the rounding out of enterprises of prime importance. Most ot the consequential "deals." of wnlch »oma weeks ago we heard so much, are •till In prog ress—are certain to mature. The present fashion of doubting and denying will be swept away by official disclosures soon. Professional Wall Street insists that there is Inebriety In the railway world because of "evidence" furnished by the disappearance of Harrlman representa tion In Northern Securities properties, and on the strength of this pessimistic opinion traders of the Stock Exchange rush In and sell short by wholesale all the Western railway securities- Ignoring wholly (what common sense recognizes as Instructive) the fact that the proclaimed op ponents and enemies of Mr. Harrlman appear at these corporation meetings vested personally by him with proxies upon which to vota his stock In absolute unison with their own stock. There is only mental paucity in blindfold bear ishness like this. Union Pacinc proxies voted solidly for the new Northern Pacific board Indicate Intelligent com prehension of the judicial decision that it is In advisable If not illegal for individuals owning stock In two competing lines to serve as officers of both. Po far, therefore, from this week's Northern Pac'lflc'» action being disturbing, it is inspiriting evidence of the disposition of Ameri can citizens to bow not only to the spirit, but to the letter of the law. Revelation is plain that our great financial leaders — our Morgans, Hills and Harrlmans— are not seeking to evade or nullify the national will, but are accepting public decision In a spirit of ready acquiescence. This very Incident shows how fallacious is the "argument" that America's financiers are public enemies. Notably encouraging is the report of the De partment of Commerce and Labor on interna tional trade for April and for the ten months of which April was the end— showing that for April combined Imports and exports reached the un exampled record of 5225.000.000 lan increase of $32,000,000 over the preceding year, and of $31, 000,000 over the same month in 1900, hitherto top-notch record. The ton months of interna tional trade approximate two and a quarter billions, with the remarkable feature that against a decrease of fTOvOOO^OOO of agricultural exports, the exports of manufactures increase $68,000,000. Satisfactory reports continue from the rail roads as to earnings, both gross and net. Latest compilation of figures (embracing 101 railroads) shows for March an increase of over 16 per cent, net for a single month — and (what signifies in splritingly) this aggregate gain in net equals one-half of the total gain in gross— this la a time of effective corporation economy. Money supplies are on the most abundant scnle at the easiest of rates. Bank clearings throughout the country are over 34 per cent, bigger than they were this time last year. Not a single fundamental condition shows Im pairment. In any market, of coursa, there are bound to be instances where price recessions are natural — the present market presenting no exception to this rule with its declines in certain stocks manipulated upward unwarrantably. St. Louis and Southwestern preferred falls naturally enough on official disavowal of representation that dividends axe to be forthwith hoistdi; and American Smelting reaction reflects official re sentment of similar misrepresentation concern ing that property, there being at present no in creased dividend proposal. But taking the general list. issue by issue, it Is difficult on the basis of developments In the business world, to find warrant for declines. In other quarters it is equally difficult to figure how It has been possible to restrain advances. This Is notably so In our local traction shares, Brook lyn Rapid Transit and the Metropolitans. Im portant new corporation relationships with the Brooklyn property are to be disclosed before long. Such are already clearly of record in Metropolitan where the undisguised co-operation of the Pennsylvania and New Haven railway systems shows. Of course, it may be that bear speculators are making a better guess for next Monday than they did for last Monday on what the United States Supreme Court will do In the franchise tax; it may even be that these, specu lators will be verified in their proclaimed "ad vance Information" that the tax Is to be forth with collectible; and such decision may for a time exert mure or less effect. But there Is no element of destruction that may come from Washington. Absolutely petty. indeed, is any possible assessment cr collection on such account compared with the upbuilding processes which new relationships assure. The franchise tax i"-« fully in operation— all the levies that ai pos sible under it — can be burdensome, but trivially beside the rich net results of Metropolitan's uu heralued progress! veness. Of significant current developments importance vests in the announced syndicate purchase from Clarence D. Simpson, Ihe Pennsylvania capital ist; of the New Mexico Railway and Us coai properties— some six hundred miles of modernly equipped road stretching across New Mexico and Arizona, and over the lint Into Old Mexico developing a territory rich In mineral and tim ber lands. The consequence of the transaction centres in the fact that here la disclosed th» rounding out of individual enterprise on a scale so large as to have National consequence, it i 3i 3 illustrative of what American capital can do and is doing. Mr. Simpson and his associate* aavr actually created— brought Into market relation ships—the national asset of new productive ter ritory. Such pioneering Is worth, from broa'l public consideration, all the profit that capita! reaps. And what is Ir.sp'iriting Is that the Simp son type of American in becoming famillar What be h-*3 lod in doln- on the West of F.: Paso, C. F. Tcakurn is accomplishing between Houston and the Hio Grnnde on the Southeast; what John "W. Oates and Herman Slelcksn have In view at Port Arthur on the Gulf— what tr.p achievements of James J. Ili'.l have heen In the enrich: of our country far North-west Among the signs of the t!rr.? 3 such examples radiate. And In their powerful contrast th»y reduce to proper pettin»f9 all fK> parading proc lamations of pessimists prating that our coun try recedes. . Only upon th« theory that Xatlinil progre* slvcnes3—national prosperity— ls national calam ity, can security market depression be justify!. H. ALL.AWAY. Reduced Rates FOR Telephone Service CmlJ any of /ft© hrtort Contract Of fleam 3 15 On Street — goia Cortlandt. 115 W. 38th Street — oo«o s.*th. S3 E. = vi Street — 9o;r Plaza. 210 W. 124 th Street — -yoco Mornirjfslde. MEW YORK TELEPHONE CO. THE "Second Empire" Is not a French Event, but a NEW FAST TRAIN BETWEEN New York and Buffalo VIA NEW YORK CENTRAL & Hudson River R. R. Leaves Grand Central Station daily ex cept Sunday at 2:30 P. ML, arrive Buffalo 11:30 P. M., stopping at Albany, Utlca. Syracuse and Rochester. See time table in daily papers. HORNER'S FURNITURE T IGHT, pleasing and restful arc '"""' the characteristics of our various lines of furniture specially adapted for Summer use. Unequaled assort ments and values are also here for selection. Bedroom Suites In white enameled, bird's eye maple, silver grey maple, curly birch, natural oak, natural mahogany. Brass Bedsteads In exclusive designs; all si-/.- White enameled Iron. Bed steads, with brass trimmings, in large . assortment. Dining Room Furniture in mahogany, golden oak, weathered oak, cathedral oak. early English, Flemish, Antwerp, &c, In the Colonial, Gothic, Chippen dale and other styles. Separate department devoted to Mission and Flemish Furniture. Special display of Mission Clocks and the famed Elliott Hall Clocks. R. J. HORNER (EL CO.. Furniture Makers and Importers, 61. 63, 65 West 23d Street. A Romance 01 Red Sannders Plain Mary Smith By HENRY WALLACE PHILLIPS Tmr know RED SATMCDEIta At V last he is the hero of a real novel. J. '"Red" never was in better form. The novel starts with a jump, and Interest never tlajrs to tho last «ea tence. It's full of dramatic Incident, crackling with humor, rich In ad\-cn •ui,-. anJ has a group of the most lova ble people to be found anywhere. Begins in JUNE camber of LESLIE'S MAGAZINE 1O Cents Ii in Need Of i Butler Coachman Waiter Consult the Situations Wanted Advertisements in the Narrow Columns of To-Day's Tribune.