OCR Interpretation

The day book. (Chicago, Ill.) 1911-1917, January 19, 1915, LAST EDITION, Image 2

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1915-01-19/ed-1/seq-2/

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and other veterans of the biggest
harvester corporation.
They were sore about the way
Funk quit 'em up in the office of Cy
rus H. McConnick, president of the
I. H. C. Funk had been with 'em for
years and it was said that Funk and
his crowd were going touild up a
big rival of the trust.
Funk knows the market for farm
machinery in the United States and
Russia and Persia. The fellows he
took with him know how to go after
business among the farmers, how to
. make a showing of "earning power,"
' capitalize it, set up a cry of prosper
ity and then sell shares of stock right
and left,
i Jim Keeley of the Herald made
, Funk famous. As editor of the Trib
, une, Keeley pushed the fight on Lor
imer, but the case dragged for a year
' and the U. S. senate wouldn't throw
' out Lorimer, It reopened when
Keeley found Funk, who went to
Washington and testified that Ed
' ward Hines, the lumberman, asked
, him (Funk) at the Union League
club to send $10,000 to Edward Til-
" den, the stockyards man, toward a
fund of $100,000 for the election of
Lorimer. With this testimony the
" U. S. senate voted to say good-by to
. Billy Lorimer.
And now the European war has hit
Clarence S. Funk in the same place
t the money trust has soaked Lorimer.
And Jim Keeley is having one fierce
time making the other State street
stores come across with advertising
I as liberally as Marshall Field & Co.,
managed by John G. Shedd, Herald
Financial editors of the Herald and
, Tribune say today application will be
made in federal court at Indianapo-
,lis for a receivership for the Rumely
J Co., "this action being taken by com
pany interests to conserve the corpo-
' ration assets pending a reorganiza
tion." Funk and Rumely lawyers
went to Indianapolis yesterday.
.Banks have gathered in $8,000,000
' of notes held by farmers against the
company and these banks have
joined with holders of $10,000,000 of
two-year notes against the company.
o o
New York, Jan. 19. Labor's case
against concentrated wealth with
possibly some direct accusations
against the Rockefellers was re
sumed today with Miss Ida Tarbell,
widely known as the author of maga
zine articles throwing light on Stand
ard' Oil's activities, as the first wit
ness. Miss Tarbell said she had recently
been investigating "relations of the
golden rule to business."
"Business is today finding out that
the common man is the great thing
in this world," she said. "To give
him full justice and opportunity is"
now the ideal of many employers of
labor. I believe there are in this
country today more employers than
ever before who realize that unless
the common man is properly cared
for they themselves cannot hope to
make their affairs properly success
ful. Roger W. Babson, statistician and
economist, told the commission that
"labor must be considered simply as
a commodity to be bought and sold.
Most social workers forget that and
that's where they make their great
est mistake."
"Thank God for their mistakes,"
interrupted Commissioner John B.
Washington, Jan. 19. Pres. Wil
son today held that he has no au
thority to place an embargo on food
stuffs to prevent them from reach
ing prohibitive prices. Such author
ity, he said, would have to be con-"
f erred through legislative action.
He told callers he had asked thor
ough probing into any illegal compli
cations to control prices, such com
binations being the only ones on
which the federal government can
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