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New-York tribune. [volume] (New York [N.Y.]) 1866-1924, March 24, 1907, Image 3

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SEW SLUMP IN STOCKS.
ECIIO OF FOREIGN PANIC.
Weak Bank Statement Drags Mar
ket Still Further.
I>rfße<J weakness developed at the start in yes
terday's stock mark«. find prevailed during- prac
tically the entire two hours of business, considera
te net losses for the day being sustained by about
all of the Issues in which transactions were had.
Jierorts a panic In Berlin and forecasts of serf
ous trouble la the csmuss of the fortnightly settle
mert !n London. whirl} «rill berin to-morrow end
*r»:!cSi Is the first since th* panic !n the New York
market, were the principal factors of depression.
Oppo'nf prices were generally below Friday's
ssMPV level, reflecting the bad break In the Lon
don market. Canadian Pacific, Union Paclflo and
fleshing, showing Iks greatest sstdal weakness.
each openlr.c ti.rec or four points down. Can
»flUr. Ptwiflc had closed on Friday at 163>%. It
opened yesterday "wide." with sales of 2.590 shares.
»t ICO to 158. The fifth sale after the opening; was
at 11*. the lowent of the day. Within a few m!n
gtett It had rallied to 158. apparently on covering
<* shorts; but before 11 o'clock was back to 155%.
Xt closed at U.B. a net loss for the day of £"» points.
Xi lai to the unsettlexnest created by the foreign
fosfi'-'.iona **■ tlie peculiar showing made by the
%axk stassSßSßt. whlrh. Instead of reflecting the
tremendous liquids Uon of the last ten days in a de
crease of S2C'.OOO,«QO or more in the loan Item, as had
been sssssasalf expected, revealed a decrease of
only J3.rffT.ooo In the loan item, and Instead of ex
fclb.'tir.g en lncreaee in cash commensurate In
amount with the pellmlnary estimate of $4,600,000,
which was baaed on the known movements of
mane? Bar the week, showed a decrease of J1.d20.-
Coe in tho rash Item. The Increase in loans was
due chiefly to the National City Hank, the loans of
which showed an Increase of $11,830,800. The same
■Bltitatloa reported an increase of 53.493.090 In cash.
The surpi reserve Increased 51.CT6.350. being now
ii'-'.' <"■'■■ against $6,863,775 on the corresponding day
Ik* year.
From 60.009 to 75,000 shnres were sold yesterday
for London account, an unusually large amount fcr
a S^tjrdiiy. In Canadian Pacific and the "Soo"
Issues beavjr selling orders for Canadian account
wer« exec-ted, find Canadian Pacific was reported
as beir.s SCl ' i3 !rl voluir.e in Europe also, as wer«
other leafil^S International Issues. In London con
»ioi« dfriined »s jer cent, an indication that urpent
l'os'catitn mi in progress, and dispatches telling
of the competition for geld among foreign financial
centre* added to the uness'.nee* here and helped
the dowrward movement of stocks. Both London
and Berlin, ii was said, were dr&wlnir the metal
frcm leans, end New Ycrk was negotiating for
pcld from Australia, frcm South Africa and even
*ro;» Ja'ian.
Several if. c ue« touched new low levels for the
vowr yesterday, among them Baltimore & Ohio,
Canadian Pacific Illinois Central and Chicago &
■Northwestern.- The following table compares the
fow pri c reached by a number of Blocks en th«
par.':' say. March la, and yesterday:
bear. I/iw.
sTsnii 14. aunt*. 23.
mWnwr«*Oh!o «« Wti
Pt.r*L! lj* m
- • 82% HT»
rentra'i P.ai:ro«a of New Jer«ey IJ>2 170
<T»cad:«.n Pt'.lSa 167 its
hm ' este ™:-:::::::::::: "i %
n J ''I •»*
j;T:no^ Cvwr.l : I*2* 1»
Qr**l Ncnhera ..................... 132 1...-*
*'B!r Four' 73 70
■Si-Brf * IT-* — 1«74 170
j^< a -•*» +"%
Erf Brst'i»i'si«rt»< 63 M
Erie .econd preferrea *^W B «H
r^on PaVisc ".'..'.'.'.'.'.'.''.'.'.'.'.'.'.'.'.'.'.'.'. 122J4 lM^i
fouthern Railway pr«T«rre<T T2i» -2
Fe—avlvas'a •• 114 116»
N>w Ycrk Central '»"* 115
a ["in'f sir* .&**•* .....»..••••••■• Wnw
Ainfrtcsn BaaltblC 1]» »£J£
T'tlled siatss £ieel M M *
STOCKS FALL IN BERLIN.
Market Flooded with Selling Orders
—A Slight Recovery.
Berlin. March 23. — Operators on th» Boerse
here to-day experienced one of the worst days in
a number of years. Following the slight recov
eries made In the early part of the week, most
lines dropped heavily on yesterday's reports
from Kew York and apprehension that the Paris
bask rate may be further raised.
The brokers found nothing except selling; or
es* from the provinces this morning, and the
Boerse opened with heavy offerings from all
sloes. with few or no buyers. Kamburg-Amert
«a Bteaoi Packet Company ftll 3 points, Berlin
Btreet Railways declined 41. Canadian Pacific
11. and several large iron companies from 8 to
12 points. Baltimore & Ohio ar:ti Pennsylvania
lost 5 points. Imperial 3p declined 20 pfennigs.
and various other provincial and German state
funds declined from 20 to 40 pfennigs on 100
marks
Aniong the foreign securities Turks fell 2
points. Japanese % and Chinese '4- Russians
and most of the other foreign securities were
tiCchcT.geti.
As i he reports off better Paris quotations came
in. with various reassuring rumors, such as one
to the effect that the Imperial Bank of Austria-
Hungary had offered the Imperial Bank of Ger
many «i large loan In gold. more confidence rrc>
tsfled ard th* banks and other large Institu
tions supported the market, with the result that
toward thfc close prices v.ere distinctly stronger,
and the stocks hf-avlly affected recovered son:*;
what. Americans rose half a point and come
domestic 6ecjr:ties west up from two to three
points. * .
Ini;i::ries me.de !n financial circles elicited
«r»!y oi;p explanation for the fall In prices hon\
r.afflo'.y, fear that the International money situa
tion, as deduced from New York and Paris sup
perl, was tightening. This market had been
withstar.dir.jr depressing Influences rather suc
cessfully, but the panicky Impulse seems to ha\>
been widespread, provincial cities and small
private holders of securities seeking to save
themselves from loss.
LONDON APPREHENSIVE.
Failures Feared at Settlement —
Yesterday's Weal: ness.
Ix>ndon. March 23. — Prices on the Stock Ex
char.ge developed etrength and the tone became
cheerful early In the week In sympathy with the
recovery in yew York, which also exercised a
beneficial effect on the Continental bourses, but
■Ah the end of the week came anxiety regard
ing the result of the settlement, much d«brls
having been l«ft from the last account. 4ppre>
ssßßßlons of trouble In Berlin and Paris, as well
c* further selllns from those quarters, had the
•Sect of a severe decline In prices tr>-day, while
the possibility that the German and English
tank :ates will follow the lead of Paris in order
to protect tl.elr gold reserves sided In the de
iresstoa ani made the final quotations mu'-h
lower than last week, the tone- beijig unsettled
and nervous.
The emsjrt be«!nn!ns; March 23 Is antici
pated with a decree Of uncomfortable anxiety
aimopt greater than that which accompanied the
last forUii^htly • cttlement. Heavy realizations
fcave been tho U at«re of all the markets, and
tna the most siild positions were affected. Th©
«>n3y point of consolation Is that operators were
not taken by surprise, as on the last occasion,
and had twenty of Haas to try to arrange mat
ters in the weak quarters where the rc-ccnt fall
UllKn You're Buying
QKkatt. its a coar«rt to mow mi yea are cfcoosiM f rm a stock
that «$ free from trash ana $ aas.
Jill that is needed, then, i$ to fiia the pattern that pleases you
n the price yea want to pay. - ,:.„•
Our fabrics and scMr* aetocfc fully illustrate tMs pessltUity.
Suiting as low as $25 Crcuseriigs as low as $6.50
B«rnl)(iin $t Phillips •
BrMtfwav- ****** I as:uS'rc:t
uitCoSl CailOi^ below BceKraaa
FE-RU-NA A MEDICAL COMPOUND
In any medical compound as much depends upon the manner in which it is
compounded as upon the ingredients used.
First, there must be a due proportion of the ingredients. Each drug in the
pharmacopeia has its special action. To combine any drug with other drugs
that have slightly different action, the combination must be made with strict
reference to the use for which the compound is intended. The drugs may bo
well selected as to their efficacy, but the compound ENTIRELY SPOILED BY
THE PROPORTION in which they are combined.
It takes years and years of experience to discover this proportion. There
is no law of chemistry, of pharmacy, by which the exact balance of proportion
can be determined. EXPERIENCE IS THE ONLY GUIDE.
In compounding a catarrh remedy Dr. Hartman has had many years' ex
perience. In the use of the various ingredients which compose the catarrh
remedy, Peruna, he has learned, little by little, how to harmonize the action of
each ingredient, how to combine them into a stable compound, how to arrange
them into su r h nice proportions as to blend the taste, the operation and the
chemical peculiarities of each several ingredient in order to produce a pharma
ceutical product beyond thr criticism cf doctors, pharmacists o: chemists.
WE REPEAT THAT AS MUCH DEPENDS ON THE WAY IN
WHICH TPE DRUGS ARE COMBINED AS DEPENDS UPON THE
DRUGS THEMSELVES.
The compound must present a stability which is not affected by changes of
temperature, not affected by exposure to the air, not affected by age. It must
be so combined that it will remain just the same whether used in the legging
or mining camps of the northwest or the coffee plantations of the tropics.
A complete list of the ingredients of Peruna would not enable any druggist
or physician to reproduce Peruna. It is the skill and sagacity by which these
Ingredients are brought together that give Peruna much of its peculiar claims as
an efficacious catarrh remedy.
However much virtue each ingredient of Peruna may possess, the value of
the compound depends largely upon the manner and proportion in which they
are combined. The right ingredients, put together rightly, is the only way a
medical compound can be made of real value.
In prices entailed a specially sever© etraln on
the resources.
While from five to eight failures are talked of
as possible, and the name of one considerable
firm was mentioned. It is still believed that the
attempts to emooth matters will t>« effectual In
ell Important cases, and the most trustworthy
opinion Inclines to the belief that only one or
two unimportant failures will occur. On the
surface there is an unusual calm, born of a de
termination to meet the crisis without panic, ami
operators generally are displaying great pru
dence In entering upon new commitments. Great
relief will, nevertheless, be felt when the settle
ment is over. Among what are regarded as
healthy *lgns are the facts that the prices of
American railroads were so materially reduced
without any break In credit, and the further In
dication that New York Is unwilling to withdraw
gold from London and thus bring about an
advance in the Bank of England's rate of dis
count. The Indian demand for go*! appears to
be satisfied, and there are various other elgns
that ere Ions; the rates for money will be easier.
Americans were the most active section, with
wide, irregular fluctuations, ruled almost entire
ly by New York. Union Pacific took the lead In
the rapid movements, but after seesawing
through the week the market tumbled down
rapidly to-day, making final prices from three
to twelve points lower than those of last Satur
day. Much of the selling came from Continental
■ooroesi, but the decline was more in the nature
of a marking down of quotations In anticipation
of trouble at Uie fonbcorrilr.jf settlement. The
final tone was slightly better, with a hardening
tendency In places.
Money was quite plentiful during the week,
but much uncertainly exists as to its future
course.
Discounts were kept very firm. In view of tho
prospective money stringency In Germany and
the uncertainty regarding the goii requirements
lor export.
The scramble for gold continues, and competi
tion is expected for the f2.500.000 available
here next week. It Is reported that $14125.000
Is coming from Vienna, that $5,000,000 has been
taken thence for Berlin, and that the raited
Etates has obtained $1,225,000 In Australia,
PREFERS PENITENTIARY.
Would Rather Go There than to the
Poorhouse, Says Harriman.
E. H. JlßjTiman was quoted yesterday by on* of
the Trail Street news bureaus as saying. In answer
to a question as to what he thought of Senator
Cullom's reported remarks concerning him:
Senator Cullom, I am sure, does not really wish
to put me in The penitentiary. He simply regrets
that I am not is the poorhouae.
Eight ye.-'s ago we found the great railroad of
his great Piste of Illinois in a moribund and deca
dent condition. It had accumulated over a **r.«» of
rears a stockholders' surplus, but was unable to
get er.y benefit therefrom except through a further
expenditure of more than PO.OM.OM The capital of
the company a' that date was about 18,000.000 A
syndicate of mere than one hundred, represented
by four managers, bought th* road at the going
market price of t.'b to DM a share. Investing there
in nearly U0.i00,9K and ..••"■' •• Tor fifty-eight ad
ditional miles.
ah Investors In Chicago & Alton at this high <- >*'
we could bare remained quiet, and even seen our
property rink and shrivel by tne millions and
t<"[.s of million! under the M per cent reduction li
railroad freight rates which has tak<'n place in th<
last tight years In that territory, and th» road an
its owners n.lglft have been on the way to th<
poorhouse.
Now, 1 prefer the penitentiary. If that Is th" re
ward for The upbu'laiiiß fit the railroad propertle
of this country, rather than the poorbouse, which !•■
the reward of progressive railway management.
More than T.. ••-•/•' has been expended in tr.i
bui>jirig up at the Alton besides our original in
vestment of Il2,'«».WX>. and the total dividend up
Interest disbursements have not been Increased bj
more than thrf e-rjuariers of a million, or less than
4 per cent on the new mowy. To-day the road !■
handling early thr»-e times the business It dl ■:
eight years ago. and the territory served by I 1I 1
ha* exiiHnriei in that proportion.
This was accomplished solely by the tale of low
ra'.e bonds ct a discount and the chopping up of
the capital Into three different classes of Hecurill''?,
viz.. bonds, preferred stock and common stock,
where substantially one existed before, and in
jlaco of 7 per cent and 8 pet cent bonds and bharru
there Is now nothing bearing higher than 4 per tent
en the preferred s.ock, and the largest security
la a bond paying 3 p*>r cent.
Tbe people of Illinois and the Chicago & Alton
road had the benefit of the lowest rate ever named
upon a railroad bond In th!« country, ar.d It had
the benefit of the value the speculative markets
place upon common stocks whoee main asset Is
nope In th* growth of the country. Just laws and
Just administration thereof.
We sold theftt Chicago & Alton securities for the
benefit of the Rtate of Illinois, the Chicago & Alton
road ar.d «h« men who ad the courage to buy
♦he road for over |I 2,0&0.000 and put over J20.000.000
ore Into It making: the total amount to more than
$t»4 oi>-;.vO Oiher Interests bought the common stock,
aril a 30 ;e r cent reduction In fright lutes In that
territory Wasted tbe opes they had li It.
Beside* the $".4,000.0".) wo put Into the purchase
and improvement of the Alton road, the company
Itself, by pale, of securities, car trusts, etc, haa put
in 122,060.000 more so that the total lnv%-*trne:n is
In he neighborhood of $SO,CM>/*X>. But. deducting
the $6'i"O,<>ho dividend from our investment, our
total net investment was $oS.000.<»0, and a- to-day's
prices there Is a lons on this Investment of at least
JS.'jOO.m .But at the average prices at which th a
becuritles could have been sold by the syndicate
j.artlclj.ant* the profit on the Investment could
D«ver have been excessive for ho large a risk.
Mary years of my life have been devoted to the
1..,.,;.,.,,,,., and upbuilding of two of the mom
Important railroad lines of the State of Illinois, the
Illinois Central -nd the Chicago it Alton.
MAY REDUCE SAGE ASSESSMENT.
The personal t\x books will remain open one
wsek longer— until April 1-after which tentative
sssesssaeßts will stand. The Russell Sage estate
<■ "we* for IK 000.000. and the Whitney estate.
cour?£nT«l I the local heirs, at about &4.0Q0.00U
l"ntll yesterday these tentative assessments r«
rialned "nchan?ed. it is understood that there
£11 be a * m-t»-rlal reduction of the Sage assess
mint. Th^ttorneys for the Whitney estate have
" ?,"ied for the neceesary blanks with which to
make affidavit concerning wdui-tions.
NEW- YORK DAILY TRIBUNE. SUNDAY. MAKCTT 21 1007.
T.F. EYAN ON EAILBOADS
Should Be Divorced from Wall
— Hit View of Mr. Roosevelt.
[From Th» Tribune Bureau.]
Washington. March 23. — Thomas F. Ryan ex
pressed the belief to-day in a brief visit to the
city that the railroads should be divorced from
"Wall Street. Mr. Ryan reached town early In
the morning; visited Mrs. Ryan, who Is living
here, and left the city at 11 a. m. for Oak Ridges
Va.. where he has a country place. Mr. Ryan
did not call on President Roosevelt or any other
government official. When asked if he came
here to talk with President Roosevelt, he maid:
"No, I do not expect to see the President. I
am on my way to my place at Oak Ridge. Va..
for rest. Besides; there Is nothing more that I
can do affecting the problems now confronting
the President."
"You mean th« railroad problems?"
"Yes, I moan the railroad situation. The rail
roads ar« really owned by the people and not by
Wall Street brokers. They should be taken out
of Wall Street and the stock quotation tickers
should be taken out of the railroad offices. The
railroad officers and the practical railroad men
who are charged with the responsibility of oper
ating the railroads should ba in absolute control.
They ehould welcome every oporUiUity to confer
with the President, aiding him in his efforts to
reach a solution that will be fair and Just to the
country and to the corporations and Insure strict
obedience to the law."
"What Is your view of the present Ci.anclol sit
uation?"
"One of the bad features cf the situation 1*
that "very money centre In the world la finding
use for its capital in the promotion of home In
dustries and is using every efft to prevent Its
money from going into ■peculation, and while I
think we have money enough to take care of th»>
legitimate business of th© country I do not be
lieve, unless we can draw very largely from Eu
ropean money centres, that there Is enough to
carry on an active stock speculation in wall
Street I think It Is the duty of money lenders
to froivn upon any undue ape<u!at!ve move
ment In any direction. They should husband
their resources and be prepared to furnish legit
imate business with the necessary capital and
the money necessary to movo the tremendous
crops that we are likely to have this year."
Mr. Ryan was asked to say something about
th» political situation.
"Politics? No. 1 haven't much to say on thai
Fubjert," he said "you know I feel confident
that the South holds tha power to domtrato
Democratic party policies. Mr. Roosevelt will
name the n»xt Republican candidate, ani dictate
the Republican platform of 190 S. That respon
sibility he cannot tscape whether he desires It
or not."
PLAN TRACTION MERGER.
Company Incorporated in Indiana to
Control Man]i Lines.
Indianapolis, March 23.— The Terr* URute.
napolii & Eastern Traction Company,
• ith an authorized 'nsue of f25.000.000 stock
ir.l ?]O.O-K>.(V»O bonds, nird articles o* lncor
poratlen to-day. This is the holding company
• 1 whi h the plans of the Philadelphia
lyndlcate, r : in Indianapolis by Huph
I McGowan, Lave be^n shaping for nearly two
The company will acriulre all the Indiana syn-
IIYDE RESIGNS AS L. I. R. R. DIRECTOR.
Out of Many Other Directorates, Also—Re
ported To Be in Egypt.
J?ines Haz*n Hyde has resigned from the dl
rectorate Of*the Long Island Railroad, It was r.n
»:ounoed yesterday. and the directors have elected
Franklin B. Lord, of the law firm of Lord, Day A.
Lord, to take his place.
Wlthlri th* lad two w*-eks Mr. Hyde has re
f!rn»"l nl«o from the boards of both the Missouri
l'aclflc and th« Texas a- Paclflo railroad*. )!•» Is
no longer a director of the Interbfirourh Kapld
Tranßlt Company, the Munbati n Railway Com
pany or the Ita-.id Transit Subway Construction
Company. He retains his «l!rrrtcr«h!p. however, in
the Equitable »rd In the Mercantile Safe IW.osit
Company, of which he Is vtce-president, an well a-«
-■ trustee. The Safe L>*T>osit Company Is es*en«
tlally n Hyde concern He still remain* also ser
ociylee-presldent nnd dirfctor of the Corey Inland
t Frooklyn Railroad «:omji.?ry and a director of
i:.. Rro< klyn City ft Ne.wtown, nnd the I'- Kalb
Avenue and North li<-n<-h railway?, all these, It li
Understood, beirt; controlled hy Kqul'aM- Interest*).
Mr. Hyde went abroad In December. 1906 At the
tlrr.e of iiis departure he announced that he. would
return within six month*. it 13 reported that ha Is
now, or recently wan. In £.gypt.
IMPROVEMENTS POSTPONED.
New Haven. March 23.— President Mellen of th"
New York. New Haven & Hartford Railroad Comp
any authorizoil a statement that projected "
lirovenit-nta to tho amount of $10,000,000 on the sys
tem had been curtailed, and probably other orders
for improvements wo»'ld be rescinded.
Two of th»> Improvements postponed will be the
proposed waiting room of the Consolidated Hallway
Company, •■• State and Chapel street* In this ''"'•'
wb«rn *f-ver;«l hundred thousand dollars was to
have bean expended, and the cross-country line
from Port Chester to Danbury, which was to M
utilizM largely as n freight lint:, connef.ting with
thf Highland division The revoked plans, how
ever, will not apply to any existing contracts, but
the action do»s inc!u<i« n postponement of tho
double tracking of the Highland division.
MAY RETIRE $10CC0,000 ICE STOCK.
A plan is under consideration. It Is said, for the
retirement of one-half of the 520,000,000 stock cf
the American Ice Securities Company t>y an Issue
of 000.000 5 per cent bonds. It Is also said that
provision will be made for retiring about $7,000,000
underlying bonds of the company, bringing the
total new bond lssuo up to $17,000,000.
MORE TIME IN MANHATTAN FIRE CASE.
Albany. March 23.— Justice Fitts. in Special Term,
on the application of Deputy Attorney General
Mott, granted to-day an extension of time until
April 18 to hear argument relative to the confirma
tion of the report of W. M. K. Olcott as referee
in the matter of tha final accounting of Otto Kel
sey as receiver or the Manhattan Fire Insurance
Company. Ex-Justice Hasbrouck. as counsel for
Mr. Kelaey. aak^d the court to confirm the report
two (V«-.ks ago. but on motion of Attorney General
Jackson, who said he wished further to examine
the report Justice Kstts granted a postponement.
Judge Hasbrouck renewed his nio.lon to-day, ana
Deputy Attorney General Mott asked and received
a further extension of time, on the ground that
the Attorney General had expert accountant eUU
at work ca u.o rt£«rt*
Outfitters to the Young
We design, manufacture, import and retail
distinctive clothing and furnishings, exclusively for
misses, youths, children and infants.
Our study of exclusiveness and individuality in
wearing apparel for the young, extends to the smallest
details of stylish dress.
Neckwear
Broad stocks of fash
ionable neckwear in
many rich and exclu
sive patterns in silk,
satin, linen and lace.
Gloves in the new
est shades and the
most appropriate
materials ior ordi
nary use and dress
occasions.
Gloves
CHANGES ON NEW HAVEN.
Curtis to Succeed Choate as Old
Colony Head.
Boston. March ?3— Railroad men in Boston were
Interested to hear to-day that three irapoitant
changes in the officials of the Old Colony and the
New York. New Haven & Hartford railroad com
panles are scheduled to become effective next
month. These changes nre said to Include the
r»-fisr.at!on of t.'hailf.s R Choate a* president of the
Old Colony Railroad Company, which office he has
Im.d miii-f 1A.7; Kayfiif s. furtls. viof-pr^si
dent or the New York, New Haven & Hartford
system, win also resign his office, It la said, to suc
ceed Mr. Choaie mj i,res>:<ie.ut of Cue Old Coiouy
Ralirouil Company.
Mr. Curtis has been the officer In charge of the.
railroad"^ affairs in this eectlon for the last two
years. It 19 understood that Timothy K. Byrnes, a
president of the New Haven, will take charge
cf Mr. Curtis present work.
SAKE WOULD RAISE TAX.
Reports Scheme for Levying on
Franchise of B. R. T.
Senator Martin Sax©, as referee appointed last
year by Attorney General Mayer to hear and
tcr-ort on the application of the Brooklyn Rapid
Transit Company for a reduction of the assess
ment of certain franchises !n Queens County.
has laid "Sown a principle In his retort, to bo
filed rub Justice Pitts In Albany next Satur
day, that will. If sustained, compel the various
companies to pa) the full assessment* levied by
the Btate Board of Asses-sors.
The Brooklyn Rapid Transit Company did not
contest the essroent on its special franchise
In Kings County, but rested Its cut on the
assessment tarried on its lines in Queens. The
company alleged that its franchises in Queenj
had no vulue whatever, as It depended for Us
business on the. main system In Kings County.
Tho company said that no separate account had
bt^n*ktpt of the earning* of the lines in Queens,
as differentiated from the other lines, and. that
there was no tangible value In them.
Senator Baxo holds that there- Is tangible value
In the Queens Hues, end that they are, as a mat
ter of fact, a valuable and essential part of tha
Brooklyn Rapid Transit »y«t«?rn. with great
prospective value. He has assessed the fran
(■!,:*« value on a proportionate car mileage basis,
the car mileage being the distance of a resular
trip multiplied by the number of trips made. It
Is said by the railway men thr\t if this method
of computation Is sustained by the court tho
companies will have to pay the full amount of
their assessments— a sum fully $3,000,000
greater than they are willing to pay without a
lawsuit.
WOULD GIVE UP SUBURBAN TRAFFIC.
Lucius Tuttle Gives This as Best Solution of
Perplexing Problem.
Boston. March The opinion that a complete
surrender of suburban traffic by steam railroads to
street railways ana Interurban trolley lines will be
the best solution of the problem of handling travel
between Boston ar.d its suburbs was expressed to
day by Lucius Tuttle. president of the Boston &
Maine Railroad, in a tetter to Charles B. Hoyt. of
Winchester. Mr. Tattle's letter was In reply to a
letter from .Mr. Hoyt suggesting tnat the Boston *c
Maine Railroad equip tiu- poi lion of its line be
tween Boston und Stonehtua with electricity. pres
ident Tuttle stated that liie substitution of elec
tricity tor steam power in gcner.il railroad service
•has not passed beyond the experimental &t*ge."
Alter <-iU:.s the cum^UUoii or electric railways,
ho says:
it Is, upon the whole, now becorni:i;r a Question
whether there, is any protlt at ail derivable by ihe
i. .I.i railroads from tha carrying of short dis
tance suburban travel at tho existing low rates
charged therefor, and Dot only the Boston &
Muiuc, but rui'.roada carry:::;; similar traffic -vt-rv
vvht n\ are fast corning to w.e belief that tha BUT?
rcr;<l<T of this kind of travel to the street railways
an<t lnterurban trolley Itttea trill 'c. from every
iioiiit of view, tho i'vtjt solution of the problem.
POLITICS IN SEWER PLAN.
Mayor Sees Murphy in Ahcarn's
■%>?,o00,O00 Project.
Bon ugh President Ahearn has requested the
Board of Estimate and Apportionment to appropri
ate the enormous sum of $22,600,000 to rebuild the
sowers of Manhattan. . ...
Mayor McClellan and Controller Met! scent poii
tics In this request Th« Controller told Mr. Abeam,
on Thursday thai the board would not ' give the
money and that he would have to m.ii.c tim pres
ent sewers do the work for -which they »re in
tended without a great u«r.*l or additional cost.
The request of the Borough President is backed
up by a report from hla chl -f engineer Horace
LoomiS, who holds that, in view of the Impending
subway construct Uic e!ty must at once plan a
comprehensive sewer system, ■> thai thi new
sewers ma] be built before i!.» subways are located
in all tho north and south thoroughfares.
Mr. Loomts's plans call f< r the dismantling of
three hundred miles of old sewers that cost $54,137
ri mile, and the installation of an e^ual mil ear a at
a cost of 175.000 a mlli-. There Is a total or 515
miles of sewers in Manhattan, so that the throwing
away of three hundred nillen means the destruction
of more than hrjf the sewers as they are at present.
Mr. Loom Is calls attention to th.» prospective
building of subways, and says that, because of
them, If the sewers are not built at once the con
duits will have to i.c built her over or under the
tunnels, and that. If built under, as seems probable,
pumps will have to be Installed to force the sew
age through the stepllke Joints where they go under
the tunnels. He says that a four-track .subway
takes up practically all the space in a city street
and that there Is only a little room left, close t- the
building line, for the sewers. He Insists that sewer
trunk lines be built before any more subways are
Mtllt. and suggests that the entire matter tie taken
up by engineers In the front rank of sanitary con
tit rue Uon to have an early report on the needs of
Uie borough.
Mayor McClellan and Controller Met« are willing
to spend money to a reasonable extent on sewers,
but they are aghast at the Idea of handing over
4£*,5M,05a to Soroush .President- ▲hears, iU-
u^^2f^
Hats
Stylish shapes in
youths' and boys'
hats, misses' and
girls' milinery and
children's caps and
bonnets.
Large assortment
of shoes In correct
foot shapes in ser
viceable and stylish
leathers and lasts.
Shoes
60-62 West 23d Street.
3 okvii axad\ Sctvs V^ows
A Magnificent Display of
Trimmed Hats for Easter.
Ideas direct from Parfs and Original conceptions; most moderately
priced, each from 6.00 to 40.00
SMART, SIMPLY TRIMMED SUIT HATS in black and colors, to match
spring costumes; each 2*95 •* ' 7.5 0
UNTRIMMED HATS, newest colon and shapes, In Leghorn, Tuscan*
Neapolitan, Chip, Milan, Hemp and Nacre braids; each ,75 to 4.95
Women's Tailored Suits
In Panama Cloth, gray or tan checks and striped effects and plain
black and navy, three button cutaway cost with strapped seams and
plaited skirt; also In black, navy and gray mixtures, double breasted
Jacket, semi-fitting and full plaited skirt. Value 930.00, for 24.75
Women's Waists.
A besutlful assortment in all the new shades. in lacs, meesaline, psau
de sole, taffeta and India silk; an enormous variety, fr0m.. 3.00 up to 55.00
CHECKED SILK WAISTS in black and whits, navy blue and whits
and brown and white; front and back tucked and trimmed with stripes
of ribbon. Value $8.00, for '. :6*9S
LAWN WAISTS; entire front trimmed with Valenciennes lace and beau- > -
tiful designs cf fine embroidery insertion! short sleeves tucked and.
trimmed with Iscs. Value $3.00, for . 2.00
Thirty styles of Lawn Waists, all handsomely trimmed with lace, em
broidery, insertion and tucks, excellent values, sold slsswhsr* fop
$2.C0. Special I.QO
Women's Gloves.
This week marks the opening of tho greatest glove occasion of tho aas »2.-%
We are displaying an abundance of the prevailing styles) and color* bow to
vogue in Paris.
Real Kidskin Real Kldskin
Mousquetalre Mousquetaire
12 B. Black 2.60 -^
16 B. 3.00 12 * 2 - 6
20 B. and 4.00 16 D. Colors. 3.75
24 B. 4.75 20 b. 4.25
c ->- 20 B. 4*25
30 B. White. 5.00
Silk Suede Lisle
188 . Double Fi " 3er Tips. 1.25 „ B sOc
18 B. 1 . «.O
16 B. Black 1.50 188 * 75C
16 B. White 2.00 16 3. Extra. 1.50
20 B. and 1 »7i> """"~~
24 B. Colors 2.00 Be!a>P - K * r BITJfc
30 b. 2.25 50c. 75c, 1.00, 1,20
Attractive Easter Novelties.
POSTALS. FANCY CARO3. BOOKLETS. SATIN BOXES. RABBITS.
CHICKENS and all sorts of beautiful articles for Easter souvenirs and
gifts, from 1c each to »■■— . 5.00
MAIL. ORDERS PROMPTLY FILLED.
Broadway, Bth and 9th Sts.
DRY COLD STORAGE
i for ;
' Furs, Garments, Rugs, Etc.
■jajoriseieat Furrier ?n charge.
■m* most sattsfMton Bathed of prot«ctl«r ;
: from UO'lIl!*.
; Kndoned by Forrlora who have naed th»
S.T*««m.
! Our flr*pro« bntldinj oTrr* an additional •■*»- '
iwi j
BtTMitAR-rKOOF \ACLT» for' securities and :
; I'.lvf plat*.
j nnrrnooF wAnniorsE* for hcua«holc
furniture of every ds*crlp'.ion. ,
i Lincoln Safe Deposit Co., j
Fhor.* BSSS— 3Bth 6t. 8S E. S9I St.. X. T. ]
; - Sena tar esUffi&t* and BSSBajhlaK |
The Pure Food Law
became effective Jan. Ist The
New York Bottling Co.'s
a,rDIN-RAYNEH-BOt£N * BIUXS)
Ginger Ale and Carbonated Bevera.es
Are Always Pure
Made from Ooe Sag r Eadwhrely.
Without pnscfvathrn el any Uad.
Free from AmUas Colors or Saccharin. •
"The Kind that's Fit to Drink
Ahoarn at present Is allied with Charles F. Mur
phy. and the McClellan men are confident that. It
Hosiery
A select variety of
full fashioned stock
ings and half hose.
In both plain and
colored effects.
Perfect fitting un
derwear in season
able weights from
materials that are
hygienic and com
fortable.
Underwear
HORNET'S
FURNITURE
Famed as
The Best
Stocks Unequalled
In all lines.
Prices the Lowest
at which Fine Furniture
can be sold.
Exclusive Lin* of
Art Furniture
For Wedding Presents,
R. J. HORNCR & CO.,
Furniture Maker* and Important
West 23d SL We si 24th St.
61-63-65 36-38-40
ARTISTIC HAH OOODS. Ok'NAMEMS.
J. AKDRE. HAIR SPECIALIST.
U West task m. mmm m sswisj.
Branch. 140 w. *»th St.. aastr B'way. ssssesl essssssl
kairiireaains. ahampoolns. manicuria«. aealß> U»» :nai
•ewers, there would be a larm amount of political
va.txoraz9 at th.i dlsßoasi of the PMssn *** m
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