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EASTERN ROADS ARE seeking INCREASE OF FIVE PER CENT / _ Formal Petition Will Go Be fore the Interstate Com merce Commission LOW PRICE RECORDS MADE DURING WEEK __ Norman B. Ream's Activity Draws At tention to One of Nation’s Great «'-t Financiers Who Shuns the Spotlight II.I W. G. NICHOLAS New Turk, May 10.—(Special.)—A fac tnr of first Importance lias been intro duced Into the stock market situation by the (astern railroads ?n petitioning the Interstate commerce commission for an Increase of 5 per cent in freight rates. The petition will he filed on Monday, May 12, and an early date for a hearing asked f«»r The hope of railroads and Wall street Is that a decision may be handed down near the beginning of the next fis cnl year—July 1. The record of earnings and expenses for the past three years will be presented by the railroads, and every shred of information relating to the case will he placed at the disposal of the com missioner.?. IMo>t of the essential facts were brought "iit it the hearings in the wage arbitra tions of the engineers and firemen, and have only to be crystanzed and brought down to date. It is expected that the fig un s will show that since the railroads were denied the right to advance rates I three years ago their annual expenses have increased approximately $65,000,000 to $70,000,000, while their increase of net lias been small. Gross traffic has i/i i reused to a monumental total, but net 'profits on the business have not kept pace with the gross. Expenses have eaten up the “velvet,” \ ami left the transportation companies in j the hole. Excepting In the cases of a few lirh systems they have not been able to keep up with the increasing demands of the public. The result in many instances ' is already seen in loss of efficiency. The loads are down to the bone in the mat ter of cash, and their credit has suffered > errespondinglv. impairment of borrow I trig power lias extended to the strong roads, and new capital can only be had by the best of them on a 5 per cent basic. | The three years’ experience under exist ing rate conditions has established the fact that the railroads have been getting I th worst of it. it is understood that a majority of the 52 railroads who join in the petition to the commission were strongly in favor of asking for a 10 per I cent raise, and only consented to the smaller figure by tlie argument that if I Hint much was demanded they would ; probably get nothing. This contest for the Pounds Pure Cane Sugar $1.00 Tomorrow and all week with i each $1.1)0 purchase of lea, cof ■ fee, extracts, baking' powder, I spices, celery salt, curry pow der, currants and Colgate’s soaps. No checks or stamps with this sale. ! Coffee in ices—25c, 28c, 30c, 35c and 40c. ■ Tea prices—40c, 50c, 60c, 80c, $1.00 lb. Extracts prices—10e, 25c bottle. Spices prices—10c, 15c, 50c a cab. Baking Powder—25c, 50c a can. ■ Currants, a package, 12c. Celery Salt, a bottle, 15c. Colgate’s Soap, a box, 25c. right of railroads to earn money enough to pay their way will soon overshadow tariff and other issues as stock market news material. Pacific Railroad Muddle The Union Pacific-Southern Pacific ome let Is apparently us far from ijeing un scrambled as ever. It is one thing for the supreme court to decree a total dis solution of a billion dollar property that | has been peacefully blended for years, j and quite another tiling to do i twlthout I virtual confiscation—a fact which has at last sunk deep into the Washington un derstanding since the Attorney Generals of two administrations futilely attempted the solution. To avoid a repetition of the Standard Oil and Tobacco Trust fiascos is the chief ambition of the department of Justice: Fear that he may not be en tirely able to do so is the fly in Mr. Mc Reynokl’s ointment, It is said. Meantime the puzzle remains uosolved and Wall street is guessing its head off and gam bling wildly and blindly on results. One man’s guess seems to be as good as an other’s. If Chairman Lovett. Mr. McRcy nolds, or any of the multi-millionaires and high browed lawyers who are dealing the cards know any more than the farmer’s boy, they have not as yet told anybody. At the same time there are rumors afloat to the effect that on inmpregnably pow erful combination of kings of finance have banded together to "save the 'situa tion,” if the real necessity should arise— a Combine strong enough, so gossip has it, to raise $126,000,000 as easily as the av erage citizen can raise a $3 bill. There is an element of plausibility about this story to command a certain amount of re spect—especially among those who can figure no other way of solving the queer enigma. Nothing has so upset Wall street as this Harriman railroad puzzle. It is one of the principal factors that has delayed a re sumption of speculative activity in the stock market. The specter Is constantly before traders of a deluge of countless millions of dollars worth of stocks being dumped upon a helpless and panic strick en situation by reason (*f the coliapse of all efforts to solve a seemingly unsolvable proposition. The men who may finally take the problem of adjustment into their own strong and capable hands, are less concerned, however, than the nerve shaekn lightweights. The real giants of the street are sometimes slow to act, but they are dependable in emergencies. They and their kind have stopped many panics in the past and may be relied upon to pre vent further catastrophes in the business world. "But how do you know,” asks the skeptic. "By the same rule of faith that Inspired the man to bet that the sun wou d rise tomorrow morning—it always had risen,” answered the wise man. Low Price Records Several low price records were made this week and in not a few cases stocks were sold at figures that looked strange, in view of past chartings. New York Central broke through par (09%), Pennsylvania went under 111. New Ha ven struck 102%, Union Pacic descended to 146%, Southern Pacific to 93%, Bal timore and Ohio to 97%. Atchison to 99%, Louisville and Nashville to 3 31. The market action was full of contra dictions and vagaries. A process of stern readjustment of values has been carried on. New York Central, which lias long been popularly recognized as lone of the gilt edged tilings, and lias been maintained on a basis that yielded only about 4 to 4% per cent on the in vestment, finally sought and found a 5 per cent level, at par—quite a novelty, land also a shock. New Haven, formerly ! a 1C per cent dividend payer, and for I many years the lordly dspenser of 8 per I cent (of which it earned 4 to 6 per cent) among 12,000 to 14,000 sharehold - ers. admits' an inevitable reduction in dividends—an imminent misfortune vhich has been discounted in a straightaway decline of $40 a share in a few' weeks—days, almost. The story of the mismanagement of the great New England system is filling acres of new spaper space, although it was years before any of them dared to publish the glaring facts. The New Haven stood ns a monument of stability and a fixed insurance of permanent income t» thousands. New England lias been hard hit in tiie course of the past generation. 1 * I suffered staggering losses in the bank ruptcies that overwhelmed Union Pa [lifie, Atchison and Northern Pacific, among other great enterprises. Thou sands were frozen out: other thousand«. paid assessments, "stuck it out" and got I hack their money. Only' the end of a hank account and the foreclosure of the • ;ld homestead can shake the faith of the average "down raster" who Invests his money in stocks and is a recipient of dividends on them in season and out for decades. The enormous losses In the properties mentioned have only been paralleled in part in recent years. New Haven setting the example. The recent gamble In Wall Street has been as to extent of the sacrifice inflicted on the trustful "Yankees." But to off i set their terrible to fabulous dividend; distributed among shareholders in llec la Copper and the Bell Telephone, through more than a generation. United Fruit is another more recent bonanza He, after all. New- England is In shape to stand punishment. Norman B. Ream's Activity one of the bits of gossip afloat in Wall street is to the effect that Mr. Net man B. Ream has been liquidating several cart loads of stocks and get ting himself "strong In cash, ’ a pro cess which he usually follows when the situation does not suit him. Mr. Ream is one of the wealthiest men in the United States, a fact known to com paratively few. He was one of the late Mr. Mohan's closest personal friends, and was called into the confidential counsels of the great banker more than any other man. One of Mr. Ream’, specialties is the direction ol’ finance committees of leading corporations in v. liicfi he is a large stock holder. His field of activity in this direction is varied, and includes Chicago, Bur lington and Quincy, National Biscuit, Pullman. Erie, Baltimore and Ohio United States Steel, tlfc Olinchviile Coal road, First National bank of Chicago. Harvester and about 30 others. He ip well toward the front in the list of 12 capitalists in the directorates of cor porations that represent a stock and bonded capitalization of more than $6, 000.000,000. In conjunction with Robert T. Lincoln, lie administered the $50,000. 000 estate of the late George M. Pull man. Mr. Ream is believed to be worth around $100,000,000. lie made his first big start on the Chicago Board of Trade in 1881-8. In 1886 he helped P. D. Armour "bust" the famous Harper wheat corner. Mr. Ream is personally a striking figure, being almost a giant in stature, and like many other promi nent financiers, shuns notoriety. The government report on winter wheat fulfilled every favorable expec tation, and the outlook for other farm crops is for a stupendous agricultural production. Bankers are already won dering where tlie money' to finance the crops is to come from, and railroads are In a quandary as to whether they w'Rl have cars enough for the traffic. If Wall street conditions were normal the crop prospects already' in view W'ould advance the stock market sensa tionally'. Wiseacres In the street ar^ saying that the longer a bull campaign is delayed t£e higher and faster prices will go. This opinion is generally pre valent. Judson Jubilee Rates Marlon. May 10—fSpeclal.)—The railroads are giving reduced special rates on ac count of the Judson Jubilee in all the southern states, Cincinnati and Washing ton; tickets on sale May 19, 20, 21. good for return trip reaching home by mid night of May 2*. They are not transfer able: must be signed by the user, and must be punched and stamped by the agent in Marlon before leaving that town for return home. Those coming are re quested to let their home agent know three to five days iri'advance, so that he will be sure to have the special tickets on hand in time. These instructions are Issued by the railroad, and those coming to the Jubilee should notice them well. HEAR GOVERNOR GI.BNN, BIJOU THEATRE, TODAY 8 F. JH. -- . J This is only one of the many attractions which awaits you here at the Style Store of Birmingham, “Saks,” tomorrow and throughout this w'eek. Economies Beyond the Usual On These Distinctively Modish High Grade Suits I Silk Suits, Moires, Ratines, Whipcords, Eponges, Shephard Checks, Canton Crepes, Serges, Novelty Woolens and Mannish Worsteds These Five Groups of Suits Represent the Cream of Styles Are charmingly individual arid extremely smart. Those of you who are mak ing preparations for your summer outing, or your trip abroad could choose no *v better from the stocks of New York’s smartest shops. You’ll find reflected here the correct styles, the most wanted materials—the best tailoring-in our suits—and above all you’ll find here our prices are much less than asked else where for ordinary suits. Our suit sizes start with 14 size for little women who are hard to fit and go on in a perfect range of sizes to 46 for large women. - - — Womens’ Dresses SC.95 SEPARATE Values $7.50 & $8.50 SKIRTS Simple street dresses, made of lin- In all the New Models at ens, ratines, pique and ramie as $5.95 well as lingerie. In white and all Values $7.50 and $8.50. the desirable summer shades. All Come in blue, black, neatly trimmed. . tans, grays and whites, , r 0 x f ~ in draped or plain styles. Voile & hnest Lingerie Dress _ 01 Priced at Almost Half Other Skirts _ _ . . At $7.50 and $10.00 Our imported dresses that were Values to $15 00 formerly $85 to $100, now .. $55.00 All $75 dresses, now.$45.00 Wash Skirts Other of the handsome gowns that In Bedford cords', linens, still remain, will be sold this week repps, or pique, at $39.50, $34.95, $29.95 and $24.95 $1.25 to $5.95 THREE BIG SPECIALS In Our Blouse Section Tomorrow Prices $2.50, $3.50 & $4.95 Values $4.00, $5.00 and $7.50 The greatest display and Sale of Blouses this season, Voiles, Crepe, Silks, Lingerie, Linens and Dressy Blouses of lace and nets—all will fea ture in this Blouse sale here tomorrow. High or low necks, as well as man nish shirts. -/ t The “Tango” Throw Coats at $17.50 $18.50, $19.95, $24.95 and up to $34.95 Values $25.00 to $45.00 The newest ami really one of 111^* smartest coat models of the present season. It is hip length with long rovers, extraordinarily large sleeves and postillion back. A very loose hanging garment which buttons to the side and is drawn tightly over the hips. A model which is odd without being freakish. A sort of happy medium between the too-too and just enough A coat which will appeal to most women as a very clever variation on pre vailing eoat styles; all remarkable values at the present marked price. The Materials and Colors Are As Follows: Brocaded Ratines—in blue, tan, nn\y and white. Kponge in navy blues, tans ,blacks or white. Crepe Meteors These in blacks and navies onlv Black Silk Poplins and Moires. MOHAIR COATS FOR THE TOURISTS ALSO LINEN COATS FOR AUTOING - Mohair Coats $17.50, $22.50 and $25.00 Linen Coats $3.95 and $5.95 MISSES BALKAN MIDDIES Of fine sailor drill—all white or trimmed in red or blue. Paul Jones make. Price $150. , . Tomorrow, Showers of Fresh Merchandise Will Usher in Saks’ Annual Sale of Underwear In the newer assortments assembled for tomorrow and all this week are scores of new styles which arrived too late for us to make this announcement for the first week of • May—however you will profit by the tardiness of this sale, which was scheduled > for the week just passed. A manufacturers’ sale of Undermuslins gives us many advantages in making prices lower than competitors and gives you that x - same high quality you look to this store for. Princess Slips 95c VALUES $1.25 These are unusual fine quality nainsook, all seams felled, and are trimmed in fine flat or round thread Val laces or of fine St. aGll embroideries. OTHER PRINCESS SLIPS—PRICED^ $1.50, $1.95, $2.50, $3.50 to $9.95 Ladies’ Drawers Special 25c, 39c, 50c, 59c and 75c In open or closed styles, plain hemstitched tucked ruffles nr trimmed in laces or embroidery. Misses’ Drawers Special 25c, 39c and 50c Children’s Drawers OF FINE MUSLINS 1 AND triranied LUC9 IOC* aOL wUL lale trimmed. Dainty Princess Slips For Children 4 to 14 Years In styles like mother wears. Prices 60c, 75c and $1.00 One Lot of French-American Gowns—Very Special at $2.50 'liio hand embroidering on these Gowns was done by French peasants. They were made up in the workrooms of one of New 5 oik’s best makers of women’s undermuslins. Hand some yokes, large loose kimono sleeves .lace trimmed necks and sleeves. Gowns for which you’d pay $.‘>.50 to $5.00 for if bought in a regular way. For the .June bride this sale is especially timely. . Saks’ Special Gowns at $2.00 Another demonstration of wonderful values. Gowns which would be cheap for $3.00, in slipovers that are elaborately trimmed in laces, ribbons and embroider}'. Other Gowns at 95c, $1.25 and $1.50 Trousseau Sets In 3 and 4 piece sets, including hand mades. Special Prices $10.00, $12.50, $14.95, $18.50 to $30.00 a Sett Saks’ Show Complete Lines of the Famous Merode Hand Finished Knit Underwear In Union Suits or Separate Garments • \ Children’s Underbodies At 25c, 39c and 50c Children’s Gowns 50c, 75c and $1,00 Union Suits $1.00, $1.25 & $1.50 Shirts 50c, 75c, $1.00 Drawers 50c & 75c a pair