The Wahpeton times. [volume], October 15, 1908, Image 7

About The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919

Image provided by: State Historical Society of North Dakota

                
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I
TRUSTS FAVOR TO
"Interests" Are Strongly Repre
sented on the Republic
an Committee.
IHELBON OFFICIAL FAT FRIER
Lift of Those from Wfiom He Got
Contribution!
Republican Treasurer Is Director lr
SI Corporations—Raised Big
Fund in 1906 Recom
mended by Standard
Oil Attorney.
Chicago, October 1.—(Special.)—In
connection with the controversy which
the President has raised as to whether
the trusts and financial concerns are
most Interested in the election of Mr.
Taft or Mr. Bryan, the Democratic Na
tional Committee Calls attention to a
few of the controlling spirits in the
Rc
sr-in
8.00
Oak ^...7.50 to 7.00
Tamarack 7 to 6.50
Jack Pine
6.50
Poplar 6.00
4tH St. So* WaHpetozi
Phon* BOOL
Committee who are ac­
tively interested in trusts and monop
olies.
At the head of the list stands George
R. Sheldon, treasurer of the Republi
can National Committee. Mr. Sheldon's
selection for this important post of of
ficial "fat frier" was made upon rec
ommendation of Wm. Nelson Crom
well, the great corporation lawyer of
Wall Street, attorney for the Panama
Canal Company, E. H. Harriman, the
Standard Oil Company, the Sugar
Trust, Kuhn, Loeb & Co., bankers and
brokers, and other favored interests.
Almost immediately after his appoint
ment, Mr. Sheldon is reported to have
received a contribution from Mr. Crom
well, amounting to $50,000.
Mr. Sheldon is a multi-millionaire,
the active head of the banking firm of
W. C. Sheldon & Co., 2 Wall Street.
According to the "Directory of Direc
tors," for the present year, Mr. Shel
don's name appears as a director in
the following 21 corporations:
American Locomotive Company.
American Locomotive Automobile
Company.
Bethlehem Steel Corporation,
Cincinnati Northern Railroad Com
pany.
Detroit Edison Company,
Electrical Securities Corporation,
Laclede Gaslight Company,
Locomotive and Machine Company
of Montreal (limited),
Locomotive Security Company,
Metropolitan Trust Company,
Milwaukee Electric Railway & Light
Co.,
Milwaukee, Light, Heat and Trac
tion Co.,
National Copper Bank,
New Jersey Terminal Dock and Im
provement Co.,
North American Co.,
Republic Steel & Iron Co., of New
Jersey,
Rogers Locomotive Works,
St. Louis Transit Co.,
Union I Jag & Paper Co. of New Jer
sey,
Union Electric Light & Power Co.,
Union Eiectric Light & Power Co.,
of St. Louis.
Mr. Sheldon's conncction with ths
Locomotive Trust places him in close
connection with the railroads of the
country, where lie is able to procure
their campaign contributions. He is
also a confidential agent of J. Pier
pont Morgan in his Wall street deals,
and assisted in the formation of the
Shipbuilding trust. His North Ameri
can company controls the traction in
terests of St. Paul and Minneapolis.
He is president of the Union League
club, of which Rockefeller. Morgnn.
Carnegie and other powers in Wall
street are also members. He is also
said to be a member of 20 other clubs
whose membership includes practi
cally all of the operators in Wall
street.
In 1906 Mr. Sheldon was treasurer
of the New York State Republican
committee, and succeeded so well in
frying the fat from the interests that
Mr. Cromwell recommended him for
a similar job with the National com
mittee. According to the sworn state
ment of Mr. Sheldon, published after
the campaign, he raised $333,923.60
chiefly from these interests.
The following is a partial list of the
contributors as shown in Mr. Shel
don's statement:
J. Pierpont Morgan, Wall street
banker and promoter $20,004
Levi P. Morgan, banker, Wall
street 20,00(
John D. Rockefeller, of Stand
ard Oil 5.00C'
Andrew Carnegie 5,001
Chauncey M. Depew, railroad
and Standard Oil senator .. 5,000
H. R. Hollins, financier 5,000
Jacob H. Schiff, favored banker 2,500
Harvey Fisk & Sons, bankers
and brokers 2,500
Kuhn, Loeb & Co., bankers and
fiscal agents 2,500
J. ft W. Seligman ft Co., bank
ers and fiscal agents 2,500
Chas. W. Schwab, steel trust
and other trust corps 2,000
C. R. Mackey, Postal Telegraph
Co 2,000
John W. Gates, stock gambler
and trust operator 2,000
W. E. Corey, Prest. U. S. Steel
Corp 2,000
W. C. Sheldon & Co., bankers
and fiscal agent3 2,030
John Jacob Astor, tenement
house owner 1,000
Wm. Nelson Cromwell, trust
lawyer 1,000
Cornelius Vanderbilc, railroad
Interests 1,000'
W. I£. Vanderbilt, Jr., railroad
interests 1,090
EM win Gould, railroad interests 1,000
W. J. Havemeyer, sugar trust.. 800
B.
N. Duke, tobacco trust 500
D.
O. Mills 500
H. M. Flagler, Standard Oil.... 600
Arbuckle Bros. Coffee Trust.... 500
Henry Clews, Wall street
banker 250
This is only a partial list of the
trust magnates and financiers who con
tributed to Mr. Sheldon's fund. An
index as to how much more Mr. Shel
don may be able to raise from these
interests for the national campaign,
the fact may be cited that Mr. Crom
well gave $1,000 to the state fund,
and increased the amount to $50,000
for the national campaigns
Fred W. Upham of Chicago is as
sistant treasurer of the Republican
National committee. He is a million
aire several times over, and a member
of the County Board of Review of Il
linois, which passes upon the amount
of taxes which corporations and large
estates shall pay in that state. He is
a director in several corporations and
is in charge of the collection of cam
paign funds in the west.
On August 21, 1908, after his ap
pointment as Assistant Treasurer of
the Republican committee, Mr. Up
ham sent out thousands of letters to
corporation officials whose taxes he
passes upon as a member of the Board
of Review, urging them to contribute
to the Republican fund as "individu
als," and requesting them "to bring
this matter to the attention of your
business associates." The suggestion
implied is regarded as significant.
Five of the nine members of the
Republican committee are:
Charles F. Brooker, Connecticut
millionaire, members of N. Y. Cham
ber of Commerce, and vice-president
New York, New Haven Railroad Co.,
against which a government suit is
now pending, and one of the leading
spirits in the brass trust.
Frank O. Lowden, multi-millionaire,
vise-president Pullman Palace Car Co.,
which is a monopoly.
E. C. Duncan, director Atlantic &
North Carolina railway, and other cor
porations, receiver Seaboard Air Line,
and official dispenser of patronage in
North Carolina.
T. Coleman DuPont, controlling fac
tor in Powder Trust, against which
the government has a suit now pend
ing for dissolution.
Boise Penrose, political boss of
Pennsylvania, head of the corrupt Re
publican organization in Philadelphia,
and conspicuous in many corporations.
Roy O. West, chairman of the Re
publican State Committee of 111., is
also chairman of the County Board of
Equalization, which passes upon cor
poration taxes.
Fred A. Sims, acting chairman of
the Republican State committee of In
diana, is also chairman of the State
Tax board, which passes upon the
taxes levied against corporations.
Mr. DuPont has been forced to re
sign from the executive committee be
cause of his trust connections, but Mr.
Brooker, against whose company the
government has a suit, is still a mem
ber of the committee.
PROTECTING DEPOSITS IN BANKS.
An Ohio Example of Taft's Position
and Oklahoma's Proof of Bryan's
Position.
One of the planks of the Denver
platform favors guaranteed bank de
posits. Mr. Bryan addressed the Ohio
legislature in February favoring guar
anteed deposits. Former Governor
Herrick subsequently addressed the
legislature in reply to Mr. Bryan, op
posing any such protection for banks
and bank depositors.
Mr. Taft, in his speech of accep
tance, denounced the plank of the
Denver platform, which declares for
a national law for banks similar to
the Oklahoma law for state banks,
thereby coinciding in the views of Mr.
Herrick and opposing the views of Mr.
Bryan.
Beiow are two dispatches showing
what Mr. Bryan stands for and what
Mr. Taft stands for:
THE OHIO WAY.
Cleveland, O., Aug. 17.—The cred
itors' committee, charged with an in
vestigation of the affairs of the de
funct Fa7- uers and Merchants' bank,
the cashier of which, Henry W. Ga
zell, is tinder arrest charged with em
bezzifment, tonight reported that the
depositors will be forced to shoulder
a loss of $-11 ",000.
The report, made in a meeting of
2,800 depositors, charged the deficit to
Gaaoli, alleging his speculations
proved disastrous to the institution.
TAFT STANDS FOR THIS.
THE OKLAHOMA WAY.
Guthrie, Okla., May 21.—Within one
hour from the time H. H. Smock, Ok
lahoma banking commission, had
taken charge of the International
Bank of Colgate he had authority to
pay the depositors in full, though
the bank's cash and available funds
in other banks fell $22,000 short of
the total amount of deposits. The
commissioner was able to do this un
der the operation of the new bankin.
law, and this is the first time it hat
been called into use.
BRYAN STANDS FOR THIS.
The Republican National committee
says it gets no money from the Stand
ard Oil company. Does that concern
then, give its money direct to Repul
lican candidates?
Somebody's
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~WAHPET0N
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H. J. KORF, J. B. WELINC, PMETCRS.
Jtcfcrenui: Oitizuns Niitionul HunK.
IC. D. Ritteiihouse,
.. DKUGGIST ..
PROPRIETARY MEDICINES, WALL PAPER,
TOILET ARTICLES CIGARS, ETC.
STATEHENT OF
THE CITIZENS NATIONAL BANK
OF WAHPETON, N. D.
Resourses Liabilities
Loans & Discounts $2'5,113.37 Capital Stock $ 53,000.00
U. S. Bonds
Hanking House
Due from U.S.Treas
Cash on hand and
due from banks
physicians' prescriptions.
At the close of business, Sept. 23rd, 10(8.
51,828.12 Surplus and Undi
12,000.00 vided Profits
3,900.00 Circulation
Deposits
119,882.66
$452,724.15
A show of your patronage solicited
Read THe Titties
19.C00.08
50,000,00
328,724.07
$452,724.15