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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, May 11, 1906, Image 4

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KEEP PEACE IN PANAMA
MR. T.I FT STATES POLICY.
Revolutionary Movement* Will Jus
tify Armed Interference.
Washington. May 10.— Revolutionary move
ments or election troubles in Panama which in
any way Interfere with work in the canal zone
justify to* Interference of the United States
to support of the Panama government.
Such is the tenor of Instructions sent to Gov
ernor Slasoon by Secretary Taft, who also sub
mitted to the Governor a letter from Secretary
Root setting forth In detail what is stated to
be the Justification for American interference In
case of disorder in any part of Panama.
The emphatic setting forth of the position of
the United States, it is believed, will prevent
serious trouble at the election to be held In
Juno. As Secretary Taft makes it clear that
any disorder in the republic will hinder canal
work, his letter will be doubly discouraging to
opponents of President Amador. who are re
ported to have been planning a movement
against him outside of the canal zone, believing
that the United States would not suppress any
Insurrection unless within the zone.
Governor Magoon communicated his instruc
tions to the Panama government yesterday, and
to-day Secretary Taft made public both his let
ter to the Governor and a letter of Secretary
Root's reviewing the relations of the United
States and Panama. In his letter Secretary
Taft says:
I have no hesitation whatever in sayinx that
in my Judgment »n Insurrection in any part of
the republic wouid disturb order In Panama
and Colon and adjacent territory, and would
greatly increase the difficulties that the United
States would have in constructing the canal;
and while, of course, the forces of our govern
ment ought not to intervene until It Is estab
lished that the Republic of Panama cannot
maintain order In its own territory, I think Hie
United States may properly, under the clauses
of the treaty construed in the Mjrht of the pro
vision of the constitution of Panama quoted by
the Secretary of State, and to prevent Its inevi
table interference with the work of cana! con
structfon. suppress any Insurrection in any part
of the republic. Of course, such action taken
with respect to an independent government,
even with its consent, as given in its funda
mental law, ought nnt to be lightly taken, or
until all trm circumstances are known, and until
It is fully established that the government of
Panama is not able to maintain itself. Of this
fact, a request by the President of Panama for
our intervention to suppress an insurrection
■would be the best evidence. If this fact does
appear, then the duty of our government would
be plain. I sincerely hope and confidently be
lievw that no disturbance of the peace, or insur
rection, will take place, and that, if it does, the
authorities of Panama can suppress it without
assistance from the t'nited States; but persons
discontented with th*> government of the Re
public of Panama should not be encouraged to
attempt to overthrow it on the supposition that
the T'niteo States would not take steps. If occa
sion arose under the circumstances already de
scribed, to l.nd it* aid by armed force to sup
preEs an insurrection \n any part of the Republic
of Panama.
Secretary Root's letter to Mr. Taft discusses
at length the constitutional questions involved
In the exercise by the United States of author
ity to maintain peace on the isthmus, and quotes
a section from the Panaman constitution, which
provides that the United States may maintain
peace In Panama in case this country agrees by
treaty to do so. Re also quotes a section of
the treaty between the United States and Pan
ama. In which Panama grants the United States
the right to preserve order in the new republic.
It is made clear by the Secretary of State that
the United States does not purpose relieving
Panama of responsibility for the maintenance
of peace. an« 2 has no thought of Interfering with
the political parties in the republic. He em
phasizes the East that the United States does
not assume to protect the government and peo
ple of Panama •from the inevitable results of
indifference and indiscretion on their part." He
then says the United States would not he com
mitting an act of war by sending troops Into
Panama on the request of the President of that
republic, as under the Panaman constitution
*uoh a request may be interpreted as the assent
of the government of the republic.
The right of the United States to protect its
property, wherever located, is set forth by Sec
retary Root. Any hindrance to the construction
of th* 1 canal is interference with the rights and
privileges of the United States, which the Secre
tary of State says must be dealt with. Accord
ingly the Secretary of War is requested to in
struct all United States officials on the isthmus
to hold themselves in readiness to meet any
emergency without exceeding their Jurisdiction.
ARMAMENT RESTRICTION.
'America Will Favor, but Xot Start,
Such a Movement.
Washington. May M.— The American delegates to
Tha Hague conference will give the heartiest sup
port to any proposition that may com* before the
gathering looking to th« restriction of armaments
of the powers, but it is not the present intention
to instruct them to initiate any such movement.
Tb* Important proc««3ings in th« British Parlia
ment yesterday, involving the adoption of a motion
In favor of this momentous project, were note«
with the k**ne»t interest in official oireles here, and.
met with approval. It Is felt, however, that, no
matter how desirable the project may be. it is not
the, part of America, resting in a position of per
fect security, to dictate to European powers what
measurer they shall take for their own safety. In
fact. It it believed that the project would actually
lose strength if broached by America. which has
already incurred some criticism as playing the part
ef Softool master.
TO BUT SHELLS DT OPEN MARKET.
House Adopts Amendments to Naval Appro,
priation Bill.
Washington. May lfl-^Shells and projectiles
far the Navy Department will, after June 30. be
purchased by the Bureau of Ordnance in the
©pen market instead of. as is now the practice,
in secret markets from firms engaged in the
manufacture of these articles. This change in
existing conditions was brought about through
U»e efforts of the chairman of the Appropria
tions Committee. Mr. Tawney. who offered an
amendment to the Naval Appropriation bill,
which the House bad under consideration to
toy. directing that the Secretary of tha Navy
Should advertise for proposals for shells and
projectiles bo that all firms engaged In the busi
ness of their manufacture may have an oppor
tunity to compete •
Much Urn* was spent to-day in considering
th* question of enlistments In the navy and the
failure of recruiting officers properly to enforce
the. law as to minors. An amendment offered
by Mr. Keller, of Massachusetts, was adopted
prohibiting naval recruiting officers from en
listing seamen, ordinary seamen or apprentices
antes* their application is accompanied by a
certificate of birth and written evidence other
than the applicant's own statement that he is
Df the age required by naval regulations. The
debate on this amendment extended over much
J*i be *T8l!lon.T 8l!lon . and at times grew animated and
iu:rlmon^us. After defeating amendments dc
tlgned to enlarge the Washington Navy Yard
and the. yard at Pensacola. the House at 15
p. m. adjourned until pood to-morrow, havin*
tempi tied only a few pases c£ the Naval bill.
MILEAGE FOR CONSULS.
fFr^m Hi* Triune? Bureau. j
Washington. May 10.— The House Committee on
Foreign Aftsii* agreed to-day on a provision in the
Diplomatic ar.d Consular bill eliowing mileage ex
penses of fly« rents a mile c# diplomatic and con
sular efjeera when travertins- to and from their
•osts. TKf. if approved by Congress, will be an
innovation for the sasmberc ef th* diplomatic and
consular corse and «*♦!» nAA a good deal to their
salaries ixnJii»eUy. Heretofore the expense of trav
elling ha? fatten on tbo consuls and diplomats per
•anally. TM feats Dspanmant recommends that
1 regular esyanss nr court be allowed for the dip
lomatic service for travelling, but the House com
mittee. preferred to make the allowance on the
tame feasts as mileage for Congressmen. It is
srobaMa U*t the provision will meet soni* opposi
tion from the extreme economists In the House, but
s. strong effort will bo made to carry the bill
lircrui-
"I go daily, from
the extreme heat of the
city — very often in a
state of perspiration — on a
boat to the shore, where
the change is very great.
Your merino underwear
makes this cooling-off
process safe, and does not
leave a chilly, clammy
feeling as is the case with
other underwear."
A letter from one who
has worn American Hos
iery Underwear for years.
Our underwear is made
in all the best materials,
suitable for all kinds of
weather ; made to fit per
fectly men, women and
children.
When you want the best
in underwear, ask for
SMS?
•Wholesale Dcpt., no Franklin St., New York
HOT WORDS AT HEARING.
Senator Morgan and Mr. Cromwell
Exchange Sharp Personalities.
Washington. May 10.— In condemnation of the
action of Secretary Taft in transferring one shar«
of Panama Railroad stock each to William »1
eon Oomwell. Roger L. Farnham ar.d Minister
Obaldta. of the Republic of Panama, to quality
these men to serve as directors of the railroad.
Senator Morgan to-day continued the examination
of Mr. Cromwell before the Senate Committee on
Interoceanlc Canals. Mr. Cromwell asserted that
the transfer was necessary to the protection and
preservation of the interests of the government in
order to continue the corporation under its New
Ycrk charter, which provided for the election of a
board of directors of hona fide stockholders. Sen.
ntor Morgan took issue with this statement, sav
ing he could see no reason why all'the shares could
not have been left in the United States Treasury
and some way found to have dispensed with the
service of these directors.
Explanation was made by Mr. Cromwell of the
commission given him by Secretary Taft In Janu
ary. 1905. to purchase all of the outstanding minor
ity stock of the railroad, and many sharp passages
were exchanged by the witness and the examiner.
Concerning the delivery of all but one of the shares
owned by Mr. Cromwell much testimony was
given. Many of the answers were guarded by
legal technicalities, and Senator Morgan salt)
sharply:
"1 shall warn you that 1 intend to examine Sec
retary Tnft about this. I want you to be careful
in your answers and to tell the truth."
Again he said: "Let us nut have any play oti
words."
"It Is pretty hard to get at the truth without
criticising your language." said Mr. Cromwell.
He was proceeding in a personal way, and Senator
Morgan was sharply upbraiding the witness for al
leged evasion of questions. At the same time Sen,
ator Taliaferro was addressing Chairman Mlllard
in protest against the language of the witness, and
everything was confusion. Senator Morgan was
the first to be heard, and he was saying to the wit.
ness:
"You are here In the. prasance of Almighty God
to tell the truth. It is my duty to examine you,
snd I intend to do it."
The witness then answered a number of questions
with monosyllables, and It was seen that a mis.
understanding of terms was responsible for a great
deal of confusion. Mr. Cromwell started to re
view tha transactions by which he bought his stock,
and said he was proud of his success.
"Let us put a stop to this vainglorious review,"
said Senator Merean. Senator Taliaferro then ex
amined the witness at some lengrth. clearing up
much of the misunderstanding. An adjournment
was taken until to-morrow.
COMMITTEE MAY SPLIT.
County Organization at Odds Over
Quigg Bylaw Amendment.
There are indications of a contest in the Republi
can County Committee on next Thursday night
over a change in the bylaws proposed by ex-Con
gressman Qulgg. Mr. Qulgg gave notice of the pro
posed change at the last meeting of the committee.
It is that the election of officers shall be held ten
days after the fall primaries, in September, In
stead of on the third Thursday of December. The
friends of President Parsons see in this proposed
change a move to depose the Congressman from the
head of the committee and elect either William
HaJptn or Mr. Quigg in his place.
At the last meeting of the county committee the
Odell men musters* twenty-three votes to thirteen
by the opposition on the adoption of the reappor
tionment pan formulated by Mr. Halpin. The Odell
men are confident that they are stronger in the
county committee now than they were last month.
If they are. it is reasonably certain that the Quigg
amendment will be adopted.
Senator Page has been urged to take a prominent
part in opposing this move by Mr. Quigg. When
seen yesterday he paid:
It looks to me. as if the Odell men are getting
ready to depose Parsons immediately after the
P i, ma . r * - - If tha( •" what they Intend to do there
will be a fight sure enough..
State Chairman Odell is expected here to-day,
and the district leaders friendly to him have been
requested to meet him at the Fifth Avenue Hotel.
as usual.
WADSWORTH SEES PRESIDENT.
Will Not Discuss Chairmanship— Thinks
Party Prospects Bright.
irr^m The Tribune Bureau.!
Washington. May 10— James W. Wa-Jsworth,
jr., Speaker of the Now York Assembly, and As
semblyman Walnwrlght came to Washington to
day, and on visiting the White House with Con
gressman Bennet this morning were invited to
take luncheon with the President.
"Both Mr. Walnwrlght and I desired to fee
th* President about a purely personal affair,
and wo came over to Washington expressly for
that purpose," said Mr. Wadsworth to-night.
"The President expressed interest in the work
of the Legislature, but state politics was not
entered into."
Regarding a rumor that the visit of several
New York politicians here within the last week
Indicated probable developments in the move
ment to supersede Mr. Odell as chairman of the
state committee, Mr. Wadsworth was non
committal, but said that the talk of calling; a
meeting of the state committee, within ten days
to take action was news to him.
Asked for an opinion on the work of the As
sembly, the Speaker replied that the record
would have to speak for Itself. The session
had been notable for the successful insurance
legislation, he said, ana the good roads measure
was also of neat Importance to the state. He
regarded Republican prospects in the state and
Congress campaigns as bright.
Mr. Wadsworth and Mr. Walnwright paid a
brief visit to the Capitol this afternoon and sat
for a few minutes in the visitors' gallery white
the debate on th- Naval bill was in prog 1 ess.
Mr. WalnwrigLt left Washington on the Con
gre«sional Limited, and Speaker Wadsworlh re
turned home to-night. Mr. Wadswonh stayed
at the home of his mother-in-law, Mrs. John
Hay, while her*.
FIvB TET.EPIIONK COMPAMEI.
None of two or more rival telephone companies
ran supply you with the same thing that any of
the others does. You can't dispense with the ser
vice ef any one by inking that of another. There
is no mi h tUlns »'• Telephone Competition. It is
duplication, perhaps triplication, possibly quad,
ruplicatlon, and so on to tha limit of human en
durance* %•
XEW-YORK DAILY TTUBFXE. FTUPAY. MAY 11. IMG.
Present Company
Development:
Telephones, May Ist, 1906 256,962
Gain for Sliree years, 1903-1906 .... 106,202
Gain for first four months, 1906.. l«, 807
The New York system is the largest in the world, and
most highly developed among cities of the first class. Tele
phones per hundred population, New York, G. 62; average
next seven largest American cities, 6.15; Berlin, 3.53;
Paris, 2.09 ; London, 1.70 ; Vienna, 1.46.
System and Service :
H. T. CEDERGREN, Manager Stockholm System: "Al
ways ahead in every respect."
FERDINAND STEGMANN, Chief Engineer, Bavarian
Telephone System : "Might well serve as a model."
JOHN HESKETH, Chief Engineer, Australian Telephone
System: "Service in all respects at the very highest
point of efficiency."
LORD STANLEY, Late Postmaster General of Great
Britain : "Highly developed and efficient"
Telephone Rate Policy:
The average rate per telephone station decreased be
tween 1898 and 190«, in Manhattan and The Bronx 57 per
cent. ; in other Boroughs 40 per cent. ; in the entire city 54
per cent.
In Manhattan and The Bronx alone the decrease, 1894
to 1900, when there was no talk of two telephone companies,
was 47 per cent. ; from 1900 to 1906 it was 42 per cent.
"Ever since 1894, when the present rate plan was in
augurated, there has been a voluntary and an almost con
tinuous reduction of rates. It may reasonably be expected
that the evolution which has been going on for twelve years
or more will continue." — An officer of the Company to the
General Laics Committee, April Ith, 1906.
Earnings :
The Audit Company of New York, after a thorough ex
amination of the books of the New York Telephone Com
pany, has certified : That the average annual percentage of
net earnings to investment for fifteen years, 1889 to 1903,
was 10.89%, and for sixteen years, 1889 to 1904, 11.12% ;
that expenditures were properly distributed between capi
tal and expense, depreciation fairly treated, and every fa
cility afforded in the. conduct of the examination.
Net earnings provide for fixed charges, dividends and
reserves for contingencies.
There is no over-capitalization. Fnmchiset ore not
capitalized. Capitalization represents only actual property
at a fair and conservative valuation and working capital.
SAYS STANDARD BRIBED
EX-EMPLOYE OX STAND.
Charges of Corruption, Short Meas
ure and Misrepresentation Made.
Chicago. May 10.— Corruption of railroad em
ployes and agents of independent oil companies,
dishonest methods of procuring land lenses the
giving of short measures, and th» selling of three
kinds of oil out of the same tan* were char ed
against the Standard Oil Company at to-day s
hearing before the Interstate Commerce Commts
lien, The Inquiry Ie held under an order of Con
gress, and to-day a session was along the lines fol
lowed son,* time ago in Kansas city.
The principal witness of the day was E. M
Wilhert. of Springfield. Mo., for ten yearn agent of
the Standard Oil Company St Topeka. Kan. He
made ths charges of bribery and dishonesty against
the. company and said that the Trlpco road dis
criminated In f*vor of the Standard. Other wit
nesses were H. C. Dcran. of Fremont. Ohio; E. p.
Ripley. president of the Atchlson. Topeka ft Santa
Pc Railroad. and M. Maxon, a former agent of the
Standard in Illinois.
Mr. Wilhert Is now an Independent oil operator.
He testified that while in the employ of the Stand
ard he had. In following out instructions, bribed
clerks of railroads and employes of independent
all companies to obtain information of the business
done by the rivals of the. Standard. He declared
that agents of the Standard were, held personally
responsible for all oil sold in their territory by In
dependent companies, and that drivers of tank
wagon* were expected to sell tor. to 208 'gallons
from a wegonir.ad of 20" gnllnns. He said thru
the actual tests of the products of the Standard
t.i determine quality were carefully guarded, and
that, when It was found necessary to cut the price
'-VSonopoiies sre not a hardship if the city can control the
monopoly. Bf it were possible for the authorities to control
, » . the present monopoly . . . there wouid seem to be no
rc-Gbor: why another company should be allowed to enter the
field." — Chief Engineer Nichols of the Bureau of Franchises in Report upon
Application of Atlantic Telephone Co.
A second telephone company, inflicting a burden of double
charges and vexation on the public, is the most wasteful and
ineffective means of control that can be adopted.
to meet the figure of a competitor, a cheaper qual
ity of nil was substituted and guaranteed to be of
a higher grade than it really was.
Mr. Wilhert said thai frequently three grades ot
oil were sold from the same tank by agents of the
Standard Oil Company.
ALLEGED OFFICIAL LETTERS.
Mr Wilhert read a letter purporting to have been
written October 26. 1896. by C. W. Mayer, manager
of the Standard at Kansas City. The letter said
that the company had decided to step sending
money for the use. of its agents in obtaining in
formation, for fear that knowledge of the practice
might become public, and that In the future agents
would be expected to obtain their information with
out the use of expense money. Another letter, s aid
to have been written by Mr. Mayer and dated No
vember 10, asked the local agent to obtain a sample
of th» product being shipped into the territory by
the National Oil Company. The letter said that
while the task was difficult, if the agent succeeded
It would make his services to the company ex
tremely vnluabte. -• »
"Cylinder oil is the- most profitable, sold,"' said the.
witness, "and the Standard Oil Company dislikes
to have any independent sell any of this grade.
Our instructions were that if we found a competi
tor selling this oil In our tenitory to cut the price
so as to set thfworders ami then lubsttute an In
ferior grade of Ml. and guarantee It to be of su
perior quality."
John I* Miller, attorney far the Standard, brok«
in to Inquire as to the scop* of the. investigation.
He said It was his understanding that the power of
the commission was limited to an Investigation of
th« relations of the- company with common car
riers, and that so far not the slightest evidence
upon that point had been given. He was opposed,
he said, to the raking over -of murk and scan<lal
t»v going hack ten years, j
""For your lnf« rmutlon II will assure you that th«
Standard Oil Company » doing tha very sam«
things to-day," said Mr. Wilhert.
"1 object to that statement." slu>ut«d Miller.
Commissioner Clements said that it was desired to
obtain nil the Information possible, and report It for
tho consideration of Congress.
GETTING CUSTOMERS' NAMES.
Wilhert said that sometimes when the Standard
Oil Company was able to obtain Information re*
•arding shtomtnu by independents, it would load
Proposed Company
Development :
The proposed company promises 33,250 Stations
in New York Cit: in three years.
Duplication produces fictitious not effective develop
ment. In five principal cities where two companies operate
from 53% to 78% of the total subscribers to the smaller
system Hie both services, and consequently pay double
charges.
Counsel for proposed company says: "The majority of
the business concerns using telephones of the existing com
pany would, of course, be compelled to install our tele
phones »» addition.'' — Times, May 3rd.
System and Service:
An "Automatic" service is proposed.
Princeton, N. J., is the only nearby place mentioned in
the "up to date automatic" cities. The automatic "system"
in Princeton, after six years of effort, serves a total of 19
subscribers, 17 of whom also use the "Bell."
The Chief Engineer of the Australian O vernment
Telephone System, after an exhaustive investigation
throughout Europe and America, reports: "Even admit
ting that the automatic system would do certain things,
. . . the common, battery system (the present New York
system) would do all this and more, and do it better and
cheaper."
Rates to Users:
The value of a telephone service depends upon the
scope of the system and its efficiency. If the service offered
customers by two concerns are wholly unlike in quantity
and quality, comparisons are worthless.
Moreover, fulfilment does not always follow promise.
In Baltimore, Cleveland and elsewhere second companies,
after obtaining a footing, have increased their rates, in dis
regard of their franchise agreements, in some cases as much
as fifty per cent. After long litigation with the public, the
courts have sustained the companies.
Compensation to the City:
Compensation made by a telephone company for the
use of the streets amounts to an indirect tax on the public,
levied through the telephone subscribers. The public pays
the bill ultimately. Such payments would necessarily oper
ate to keep up the rates, providing they were otherwise
reasonable and fair.
The report of the Bureau of Franchises : "The grantor
of this permission and the consumer to which this product
must he sold are identical, being the people of the city."
Shall benefits go to the public as "consumer" in reduced
charges, or to the public as "grantor" in proceeds of indi
rect taxation?
a passenger train with oil. beat the freight train
to the consignee and then undersell them.
He declared that the Frisco road gave a rate of
$.'• out of Springfleld. Mo., to the Standard, which
placed a heavy handicap on Independent dealers.
The rate, he said. meant about two cents a hun
dred, while he was charged 20 cents.
"I was told by a man named .lMiflln." said the
witness, "who is a checker for th« Frisco road at
Springfield, that at night, after my barrels had
been loaded, men entered the cars and took the
names of th« consignees. I had the barrels placed
with the address card on the bottom and the small
doors of the car nailed up. Despite this, men
crawled Into the cars, turned over tne barrels and
look the names and addresses."
Mr. Miller asked the witness If he had not left
the employment of the Standard under a cloud, and
the witness admitted that there had been a dis
pute about come money that had been stolen from
his office, but denied that lie had anything to do
with its disappearance.
H. C. l>tran. of Fremont. Ohio, was the second
witness. He said that the Standard Oil Company
of Ohio, the Buckeye Pipe. Company, the Manhat
tan Oil Company and the Republic OH Company
were all subsidiary companies of the Standard Oil
Company, and had used various methods in ob
taining from ft-rincrs th« leases of oil lands. He
declared thai they led the farmers to bvlUve that
competition existed between tho companies, when
in fact there was none.
A pipe line map drawn by W. W. Tarbell. of
Philadelphia, was Introduced. It was said that it
Oisilose.F ilnes unknown to any but the. officers
of the company. The map will be verified at the
hearing in Philadelphia next week.
L. P. Kipl-y, president of the AtchiMtn. Topetia
& Santa F. Railroad, was asked concerning agree
ments of the rsih~o.id company with romv<inl?a a -
„_.,! i„ be subsidiary to the. Standard.
''Didn't you rets* th» rate In Kansas on oil when
the pipe line was put in?" asked Mr. Monet t.
"We di<l: but we carried oil be-fore the pipe line
nan pin in, and we have carried none since.
Mr. Ripley wns asked if the rate on gas oil was
not low civ a.nd that on crude oil raise i. and en
»wered ye*.
-When tho crude oil mas piped the rate was
rnitted: but the rate en ass oil was lowered, X fee
ing shipped; isn't that so?"
•Yes/ 1 reeled President Ripley.
M. Mason, formerly agent of the Standard at
various point* In Illinois, said that th« Standard,
through subsidiary companies, fousht th* inde
pendent dealt by reducing rates in their territory;
and although the reductions were not roads in too
name of the Standard it was la reality that concern
which was making them. The hearing wffl *•«"•*
tlnued to-morrow.
ROCKEFELLER MEN COHVICHB.
. "40099
aaaaal
Superintendent and Gamekeeper *^»»
Guilty of Deer Hounding.
Albany. May Commissioner WM *jj*V- t
the State Forest. Fish and Gams Depar^^
to-day announced the conviction on tbt «■
of deer hounding of John Redwood. *2jaa«
superintendent, and Harry Melville, as—-^
keeper, both employed on the Adlronaac^^
serve of William Rockefeller, at inc«u-—
Centre. Franklin County. »»iti» •■*
Evidence against Redwood and ■ _is!«»r
obtained last winter by Chief Gams «""£*£,
Burnham. who tracked the hunters •"£•,„»
Rockefeller preserve on ■n«*? tls .iS **"
were tried early this week before Wffl|.
ris Hasen. They were convicted and J^^.
each. An appeal from the Judgment °»r^ 19
tlon has been taken, and lons Htixatwa
prospect.
JTCLEHAHAH QUITS MUTTJ^E* * AVX
- ■
Resign* Presidency— Had Been It**"* v
Trustee for David Stevenson.
James McClenahan. who recently *^J
moved as trustee for Pavfd * n * "\, sasJt
day resigned the presidency of In * »gc»*s
at Broadway and :«d street. w TB *i!S£S. •£
Ed Charlca A Sachet* to the preaWe «J *■*
Baokeit has been a president or w»
for some years. »i...*w»n- «SS*!
The Mutual Bank, a stat* » n « t^ utlo JJ sttl BSi «*
Can!se4 In lSUt>. and at first did ' f^g^p t>
Eighth avenue and JMth «*••«• nS ii»n *•
Itaprf sent site was in IWO *•*
& director ana vice-president of the om be^*
Its organisation until ISC, wli« » Bast*
president. in 19« i the National J£*t.r,t3<i
i«ir»« a majority of ths Mutual Ban»»

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