The herald. [microfilm reel], December 18, 1898, Image 1

About The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900

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jtttms* i7"*"\ VfiLU sooai
aJKi r\Y,i,, 6tATIT
TWENTY-SIXTH YEAR. NO. 79.
STEAD HAS SEEN THE CZAR
And Heard Him Say That He
Was Really in Earnest
ANXIOUS fOR AID fROM AMERICANS
Who Can Save From Failure the Plan to Secure the National
Disarmament and Divert Men's Labor to
the Ssrvice of Humanity
Associated Press Special Wlro
LONDON, Dec. 17.- William T. Stead,
writing to the Associated Preee, say?:
"I have seen the czar. 1 have heard from
his own lips the earnest'desire of his heart
that something practical should he done,
and that Quickly, to divert to the service ot
humanity some of the many millions devot
ed to preparations for war. He lias taken the
initiative in summoning the conference. He
is prepared to give earnest of his sincerity
by arresting the future increase of the Rus
sian armament. Hut unless) he is supported
by the people who detest militarism as well
as those who groan under its burdens his
well-meant endeavor will fail.
AMERICA'S OPPORTUNITY
"The American people can, if they will,
prevent so fatal a catastrophe. As
the greatest nnd the latest of the
world's powers, they can, if they
choose, save this supreme opportunity
of the century from being sacrificed by the
skeptical apathy of the governments. Hut
to do this it will be necessary to act and' to
act at once.
"What is hoped of those friends of peace
and enemies of militarism who turn their
eager eyes to the great republic of the new
world is that between now and the end of
JatrUary the citizens of the United States
will, by public demonstrations, formal reso
lutions and by other methods by which a
democratic people gives expression to its
convictions and its aspirations, have mani
fested to the world "their determination to
help the czar to put this thing through. A
national committee to protect the success
of the peace conference, with local commit
tees in every city in the union, would do
much to achieve this end.
ACTION IN ENGLAND
"In England, where the difficulties are
much greater, owing to the senseless preju
dice against Russia, which has been the
baneful legacy of the Crimean war, such a
national-committee is already in course of
formation. By the end of next month it is
expected there will not be any considerable
center of population which will not have
held its public meeting demanding that en
ergetic support should be given to the Rus
sian proposals.
"What the friends of peace in England
confidently calculate on is that the appeal
in the cause of humanity will find l the Amer
ican people ready and able to respond. It
ao, the grandest demonstration ever made
of the peace-loving passion of the English
speaking race will be within our reach. A
joint Anglo-American representation of,
say, fifteen men and five women, chosen
from the foremost of our rare, charged with
the mandate to proceed through Europe on
a pilgrimage of peace to present an address
of thanks to the czar, would roust- the conti
nent.
WILL ALL JOIN IN
"Round the Anglo-American deputation
would group themselves, in the first place,
the representatives of the seven small states
—Swerlen, Norway, Denmark, Holland,
Belgium, Switzerland and Portugal—with
an aggregate population of nearly 30,000,000
and with these reformers, the great interna
tional delegation would hegin its crusade
through Europe. In four weeks it would
have shaken the continent from center to
circumference."
THE QUEEN S SYMPATHY
The movement in favor of an internation
al demonstration in support of the czar's
peace conference is taking practical shape in
Great Britain and is attracting much sym
pathy from the queen and other members of
the royal family, who are said to be aware
of the entire sincerity of the czar.
A public conference has been summoned
to take place tomorrow at, St. James' hall,
by the heads of all religions. It will be pre
sided over by a representative of the Bishop
of London. Mr. Stead will explain the
views of the czar and the proposed interna
tional movement and will read letter*from
A. J. Balfour, the first lord of the treasury
and Conservative leader in the house of
commons; James Bryee, Leonard Courtney,
i the Rev. Joseph Parker, Karl Spencer and
others, heartily indorsing tlie movement.
A ROTHSCHILD DEAD
Baron Ferdinand's Cold Proved Sud
denly Fatal
LONDON, Dec. 17.'—Baron Ferdinand
.Tames de Rothschild, M. P., is dead. He
was the second M>n of the latae Baron Al
phomio de Rothschild. He married his
cousin, Evelina, sister of the lirst Lord
Rothschild. He was a member of parlia
ment in the Unionists;' interest for Vales-
bury.
The Baron way an intimatae friend of the
Prince of Wales. It was,during the Prince's
last Vieit to Waddeson, near Aylesbury, the
seat of liaron Rothschild, that he injured his
knee. The baron was a lavish host and en
tertained tbe queen in 1890. Hfti death was
'Hidden. It wan supposed he was only
suffering from a cold.
The Perry Aground
ASTORIA, Ore., Dec. 17—The United
States revenue cutter Commodore Perry,
which left this city this morning for Port
land, struck on a rock near St. Helens in
a thick fog. The Perry lies on the rock
about amidships on the starboard aide, and
is slightly listed. The steamers' Telephone
and Undine attempted to pull the cutter
off the rock, but were unsuccessful. At
high tide tonight it is thought they will
succeed in getting the Perry off.
Blackmailers Sentenced
SAN KKANCISCO, Dec. 17.—Myron H.
Anderson and Klfic William* were tliie
morning trntcni'vd to llv« jearvncfa in the
»tiit<? prtion .a Snn Qucntin for huving ex
ii>Mii! $2000 from Captain KevilLs of the
Kawhide mine.
ABOUT THE STATE
The Alaska Commercial company has re
ceived advices from its agent at Circle City
stating that coal mining is being successfully
prosecuted, and from one strike a cjpily
yield of 100 bona is promised by next sum
mer.
J. C. Barkhausen, a clerk, aged 45, com
mitted 6uicide Friday night in his room ou
Ninth street, San Francisco. He stuffed the
crevices in his room and'turned on the gas.
Rarkhausen was despondent through lack
ol employment.
The cruiser Chitose, built at the Union
iron works for the Japanese government,
was out for her preliminary spin on the bay
yesterday. She will have her official trial
trip in the Santa Barbara channel next Sat
urday, when she is expected lo make 22' A
knots or better.
Lizzie Franz of San Francisco, aged 14,
has the distinction of being the youngest
female burglar ever arrested by the police.
She is behind the bars, charged with having
broken into a lower fiat and carried off a
number of household articles, some curios
and jewelry belonging to the occupant.
Next Monday Woods Bros., Stockton, will
begin the work of cultivating 10,000 acres to
wheat, the land being situated! on Roberts
and Union islands. They are sure of a crop
as far as any damage from drouth is con
cerned, because 7000 acres of the land can
be irrigated from the waterways along the
levees protecting the land from the en
croachment of floods.
Two convicts are now in solitary confine
ment! at San. Quentin prison for attempting
to escape. They are Axe Jos, who is serving
a burglary sentence from Santa Clara, and
J. Zoniakosky, serving a sentence from San
Francisco on a similar charge. They ob
tained some tools from the jute mill and cut
through the floor of their cell, intending to
tunnel under the outerwall.
i Reports received by Governor Budd) from
the southern part of Monte-rey county rep
resent that the people of that region are
suffering for lack of food. The governor
believes that the legislature when it meets
should promptly make an appropriation for
the relief of these people and has embodied
such recommendation in hi? me-wage to the
legislature. A San Miguel dispatch snjsthe
opinion of prominent people there is that
state aid is unnecessary.
THE HERALD
TO BE HELD IN LOS ANGELES
The Convention of the National Educational Association Will
Be Held Here Next July.
Special to The Herald.
Chicago, Dec. 17.—The special committee of the National Educational As
sociation, to select the place for the next convention, to be held July, '99, decided
tonight, after a long discussion, on Los Angeles.
The above news was confirmed by a telegram received by Superintendent
of Schools Foshay, who received the following telegram last night:
Convention goes to Los Angeles.
Unanimous vote.
IRWIN SHEPARD
The Inaugural Ball
SACRAMENTO, Dec. 17.—1t is probable
that the date fixed by the general committee
for holding the inaugural ball, January
16, will be changed to January 0. Judge
E. C. Hart met several memberrs of the
Republican state central committee im San
Francisco today, and they urged that the
date be changed, as on January IV the first
ballot for United States senntor will be
taken, and on the evening preceding it the
senators wilL desire to caftcus. Judge
Hart has comimunicated with the mayor,
and the latter will call the committee togeth
er at an early date to consider the matter.
Raising the Flag
HAVANA, Dec. 17.—The Cerro suburb
was evacuated todaj-by the Spaniard*. The
Stars and Stripes were hoisted over many
of the houses- of the place, while from a num
iber of buildings Cuban, flags were displayed.
LEADING OPPONENTS OF AMERICAN "EXPANSION"
LOS ANGELES,
THE RECENT GEORGE FRISBIE HOAR FROST
BRYAN HAS HIS VIEWS
ON THE ISSUES OF THE NEXT
CAMPAIGN
Silver the Main Question, Closely Fol
lowed by Opposition to the New
Expansion Idea
NEW YORK, Dec. 17—The World will
publish the following:
William .T. Bryan is in town. He was
found las* night (Saturday) at the Bartholdi
hotel. Colonel Bryan declared himself
SUNDAY MORNING,
DECEMBER 18, 1898
an uncompromising opponent of the Mc-
Kinley policy of expansion. He said:
"It is too early at this time to discuss
party polities for the presidential election
of 1900, but I think the issues then will be
free silver, anti-expansion, anti-imperialism
and the rights of labor.
"I have already expressed myself against
imperialism and territorial expansion. The
proposal to adopt the colonial idea of Eu
ropean nations is fraught with the greatest
danger.
"What will he the fate of the treaty in
the senate Ido not care to predict. While
in Washington I sought all the information
I could get. I cannot say that I learned
sufficient to warrant me in expressing a
positive opinion.
"Do I think free silver will be an issue in
1900? Certainlj-. It will be the main
question.
"How about the labor problem? lam
not prepared to answer that question."
CHEAP MONEY IN AMERICA
Brings a Borrower From Across
the Atlantic
MONOPOLY MAKES THE MILLIONAIRES
Russia, Recognizing the Transoceanic Plethora, Will Offer
Opportunity for the United States to Become for
the First Time a Creditor Nation
Associated Press Special Wire
CHICAGO, Dec. 17.—James H. Eckels,
preside-nt of the Commercial National bank,
said today: "I am credibly informed that a
great foreign power has sent representatives
to the I'nited States, and they are now in
New York, for the purpose of negotiating a
loan, of immense proportions. If the source
of my information is reliable it is the first
case in the history of the United States of a
foreign power borrowing here."
A STARTLING STATEMENT
The Chicago Daily News says:
The statement may startle the general
public, but in the financial world the report
will cause no astonishment, although the
action will be unprecedented in the mon
etary history of the country.
For nearly two months money has been
"the cheapest thing in America," in finan
ciers' phrase. For a fortnight call loans
have been made in Wall street as low as %
per cent, while short time borrowers with
approved collateral are accommodated at
3',& per cent in Chicago.
The board markets are absolutely bare of
first class securities bearing more than 3%
per cent. Todny 5 per cent coupon issues
were bought on the exchange at 137, and
high grade stocks paying dividends at the
rate of 5 per cent per annum were quoted at
132. Chicago and Northwestern common
was an instance.
Firms making a specialty of investment
securities acknowledge that the dlemand for
values has exceeded the supply three-fold.
Fairly safe issues have been absorbed and
there is no diminution in the funds seeking
placement.
The national treasury states that for the
current month money in circulation has in
creased $20,303,722. This, following a gain
of $50,000,000 for October, makes a total ex
pansion of about $25,000,000 for the last sixty
days. Compared with a year ago, the total
! circulation of all kind's of money is $165,795,
--000 greater, and amounts in all to $1,886,800
--000.
MORE MONEY IN SIGHT
The perspective reveals even more. On
the first of the year corporations will dis
tribute about $1(111,000,000 in interest and
dividends. Resides, exports are increas
ing rapidly, while imports are decreasing
quite as rapidly.
The latest figures tell' that the exports
of merchandise from this country exceed
those of Great Rritain for the first time in
the history of the two countries. The
I'nited States is in the unique position of
desiring to buy the American securities held
abroad.
It is this condition that has warranted a
foreign government in making tentative
overtures for a big loan here. The borrower
is supposed to be Russia. The representa
tives of that country were negotiating with
French bankers some time ago for a large
sum, but the transaction was not concluded.
ECKELS' REMARKS
Ex-Comptroller of the Currency Eckefe
has heard of the overtures made by a for
eign power to raise money on thisside.
"The monetary condition of the country
is today quite unlike anything we have
heretofore witnessed," he said. "Despite
the unusual activity in all characters of
stocks and bonds and in general business
lines, deposits grow in the banks largely be
yond the expansion of loans. There cer
tainly is no present and but little future
prospect of a change. There can hardly be
one with the amount of money flowing into
the country from abroad and the increasing
demand there for our products. Whatever
discussion appeared some weeks since as to
the raising of rates of the Bank of England
and the Imperial Bank of Germany has
I now- passed away.
"It seems that so far as German needs are
concerned London felt there might be trou
ble in Berlin because the banks had not
been prudent in advancing to so great nn
extent on securities which the banks them
selves weTe really interested because they
had not the means themselves to finance
id mf~\ t CMIC - XL " 1
PRICE FIVE CENTS
them. This condition of great demand for
money immediately rcllecttd itself in Lon
don und Paris, and, though much less so,
in Xew York. It is stated by those in a po
sition to know that the chanige is now for
the better, and though money is stilt wanted
in Berlin there will be no great stringency
or any difficulty because the situation was
faced in good time. As a result no further
advance is anticipated in the rate of the
Bank of England.
EFFECT OF PEACE
"I doubt if the definite announcement ot
the signing of the treaty of peace with Spain
has had much, if anything, to do with the
surprising advance in all characters of se
curities. As a matter of fact, all the effecta
of such an act had long been discounted, aa
had every step in the war in so far as busi
ness was concerned. Much of the advance
is upon the basis of merit owing to general
ly improved conditions. Some, hoaever, is
purely speculative and may be earned fl>
an extent that, will cause a reaction. This
reaction, while it might be serious under
other monetary conditions, would have
less marked effect with the plethora of
money on hand everywhere throughout tha
country. So great is this that I have heard
it intimated from good sources that there
has been some real discussion of one of the
foreign powers negotiating a loan in New
York.
GOOD MANAGEMENT
"All this is accentuated by the fact that
American interests are loaning abroad. The
force of economics in management and ex
penditure is not the least of the reasons
for a betterment in value, of slow and mora
thorough organization in carrying on great
enterprises. The reduction of prices in so
many things is compelled to be met by bet
ter systems of administration and greater
volume of business. Necessarily is this so
iv all classes of industrials and railroads.
"As for the banks, it is the greater volume
of business alone which enables them with
so great a reduction in the pay after trans
acting the business, to make a fair return
upon the capital invested."
"All this thing benefits more than anyone
else the great body of consumers. However
apparently on the face' of things combina
tions may seem to beat present for the ben
efit of capital, an analysis of the real effect
of them will show- that the consumer is tha
largest gainer. The danger in such combina
tions lies in their inviting more or less
speculation, thus affording opportunity to
managers to sacrifice the interests of the
rouices vested in them tend to invite polit
ical attack and cause participation in. pol
itics by them.
"However, these features can all be safe
guarded and in time combinations made
within the lines of laws and fairness, con
ducted upon legitimate business principles,
will be accepted here as much a part of ev
eryday commercial life as they are in other
countries, where this evolution was long
since a fixture and an accepted benefit.
"It is known that German institutions
have paid iv the last five weeks as high ; s
i per cent for six-month loans made in Wall
and Lasalle streets, which is not excessive
when it is recalled that the discount rate
of the Reich bank is 6 per cent.
"Money being dearer in France and in
EngJand than in the United States, the in
ference is logical that the foreign representa
tives who are negotiating a large loan in this
country are acting for the czar's govern
ment."
NO DETAILS KNOWN
Late this evening Mr. Eckels was asked
by the Associated Press if he could give any
intimation as to which of the European
powers had made overtures for a loan. He
replied that he had no definite information
in the matter, but that the whole subject
had been suggested to him. in a conversation
in New York in the course of which the
name of the applicant had not been men
tioned.
"Of course the whole matter is aa yet
hardly anything more than a rumor," said
Mr. Eckels. "If true, it would be of vast
significance as showing the tremendoul
value that European countries are begin
ning to sot upon the United' States as a
source of financial aid. Beyond this I have
nothing to add to the interview printed ia
the Daily News this afternoon."