Tonopah daily bonanza. [volume], October 20, 1907, Image 1

About Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929

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onopah Daily Bonanza
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SAN FRANCISCO, Oct. 13. (By Associated Press) Con
cerning his Investments In Nevada mines, Mr. Schwab said his
investments had proved satisfactory."
Charles M. Schwab, lu the S. V. Examiner, Oct. 17. ''I and
my friends have invested a great deal in Nevada, but no more
will we send there. We have had things misrepresented to us.
The East is sore on Nevada. I recently told some Nevada men in
New York that we could not depend on what they said and
wanted no more Nevada dealings."
'
Steel Magnate Casts a
Slur Upon Nevada.
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SAN FRANCISCO, Oct. 19. "My recent criticisms of Nevada
have been misunderstood," said Mr. Schwab. "I have not criti
cized and do not criticize the citizens of that State. My criticisms
have been directed solely against the men who have brought the
mines of Nevada to New York."
Here are three remarkable statements from Charles M. Schwab,
steel king, shipbuilder and millionaire, and sometime mining man. He
has a new statement every other day. The dispatch first mentioned was
published in the Daily Bonanza. Nothing was known of the contribu
tion to the Examiner until the arrival of the paper yesterday, and the
people of this city were at a loss to know what the mining man and steel
millionaire could mean. There was nobody here who could inform
them. Donald B. Gillies, president of the Tonopah Extension Company,
was out of town. Mr. Schwab Is supposed to still control the Tonopah
Extension.
The Bonanza opined that the best person to look to for an explana
tion was Mr. Schwab himself, and accordingly the following telegram was
sent to him at San Francisco:
"Charles M. Schwab, Fairmont Hotel, San Francisco
"The people of Nevada desire to know if the interview with you in
the S. F.. Examiner of Thursday, Oct. 17, is correct? We refer particu
larly to the concluding paragraphs. In what part of Nevada have you
suffered loss that calls for your statement? . ,
"W. W. BOOTH,
"Tonopah Daily Bonanza."
Mr. Schwab had not answered this telegram up to the time of going
to press. He is quoted in an interview sent out by the , Associated
Crawfishes to the Extent of
Not Meaning to Attack
All Nevada People.
Come From Under Cover,
Charley, and ket's Know
What You Mean.
Press, at his own solicitation, as saying that his criticisms of Nevada
had been misunderstood. He says, further, that his criticisms have been
directed solely against the men who have brought the mines of Nevada to
New York.
v.
That is about as clear as the average interview given out by the
man of trusts and busts, when he wants to fool or befuddle the public.
Mr. Schwab has had some dealings in Tonopah, and the people resent
the slur put upon them by Mr. Schwab, great man though he may be,
from the fact that he has some millions. If Mr. Schwab's investments
here have not proved successful it seems to the man of average intelli
gence that that would be up to Mr. Schwab. But if he asserts that they
have not proved successful, he has got to show the people of this com
munity. , .
Mr. Schwab was first introduced into Nevada by John Y. McKane,
and McKane must have been the man who first took the mines of Ne
vada to New York. Thorugh him, Mr. Schwab and his friends bought the
Tonopah Extension for fifteen cents a share. Since that time the stock
m tin.
has been to nttecn dollars a snare, ana ir Mr. senwab aid not unload at
that figure, then some of bis friends did, and kept on unloading at teu
dollars a share or thereabouts. If Mr. Schwab can show where he has
suffered a loss, there ure darker things In the advance of the stock mar
ket than we wot of.
The Tonopah Extension lias paid three hundred thousand dollars lu
dividends, and is now five or six times higher in price than when Mr.
Schwab bought it. It may be that Schwab parcelled the stock out to his
friends at the higher prices, which is whnt Is called high finance in Wall
street; and that these friends are now taking him to task. As far as It
can be made to appear on the surface, the investment of the Tonopah
Extension was a highly profitable one for Mr. Schwab.
The deal of the Golden Anchor seems not to have been such a good
venture.. That was also manipulated by John McKane, who is enjoying
in Scotland what he made in Nevada. McKane is best known here
through his connection with Schwab. Golden Anchor lies in a good lo
cation and may have ore, but Mr. Schwab, evidently, wants the ore on
the top of the ground. At any rate, Golden Anchor has been shut
down for some time, and recently formed a consolidation with the Mid
way Extension,' with a view of resuming work.
The only other investment of any moment that we know of Mr.
Schwab's is in Beatty, the Montgomery Shoshone. Mr. Schwab has ex
ploited that property for a great ma ny millions, having formed a, con
solidation which was capitalized for five million shares at $20 a share.
The stock is not worth that much now. , Mr. Schwab had a great deal to
say about the deal, and was very much pleased with his property. .This
was more than a year ago. What change has In the meantime come over
the spirit of his dream? He came through Tonopah at that time, and told
the people here what he was going to do for southern Nevada. He sub
. scribed $5000 for a new Mlzpah Club, and that was the last that was
heard of his magnificent philanthropy. He never paid the five thousand.
It has been the general impression here that Nevada had been pretty
good to Mr. Schwab. It was never thought that he- had put a great deal
of money into the Shoshone, but rather that he had sold stock to pro
vide the money for part of the payment of the property and to swell
the treasury. At any rate he would never tell what he paid for the mine.
Since the purchase of the Montgomery Shoshone, the work of construct
ing a 100-stamp mill has been going on, and that work has Just been
completed. What the mill will make of the mine remains to be seen.
Perhaps Mr. Schwab will explain what he means by misrepresentation,
and tell us where he lost his money.
'A
AS
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3 J .S
rs
SEATTLE, Oct. J 9. D. H.
Reynolds, promoter of the Rey-
nolds Alaska Company and the
Alaska-Nome railway, has book-
'ed passage for himself and wife
on the Yucatan, which sails for
Valdez on Sunday. He will in-
quire into the affairs of the sus-
pended Valdez bank. Cable ad-
vices from Valdez are to the ef-
feet that instead of the situa-
tion due to the failure of Rey-
nolds' bank being cleared, com-
plications have so thickened
- that there is danger of riot and
destruction of property. No
money has been received at Val-
dez to pay off the 600 employes
of the Alaska Nome railroad,
who are without means to se-
cure food or shelter. The affairs
of the Reynolds Alaska Devel-
opment Company have become
so complicated, it Is said half
the town will have to pass 'into
the hands of a receiver.
State University Is
Defeated by California
SEATTLE, ' Oct. 19. The D. H.
Reynolds Alaska bubble has collap
sed. Following the failure of the
Reynolds bank at Valdez, work has
been suspended on the Alaska Home
railway, another Reynolds venture.
From 500 to 600 men are clamoring
for their pay and over half this num
ber Rrrlved at Valdez today. ' They
were greatly wrought up on finding
that the Reynolds bank, in which
many were depositors, had suspend
ed payment. Violence is feared and
Governor Hogg is holding himself In
readiness to call out the troops. The
following cablegram today outlines
the tense condition at' Valdez:
"Work on the Alaska Home rail
way was suspended yesterday. Be
tween 300 and 400 men coming to
town today. No funds are available
' to pay them. Violence is feared.
The city has appointed fifty extra
policemen to handle the situation
Governor Hogg all ready to call the
troops . at the first sign of rioting.
All railroad property has been at
tached by creditors. The feeling is
general that the Reynolds bank will
be able in a short time to meet its
obligations with no' loss to depositors.
If its obligations, are not met it will
ientail a terrible financial hardship to
local merchants."
To the people of Valdez suspension
of work on the railroad is far more
serious that the failure of the bank.
They have subscribed liberally to
ward, the construction of the road,
which now appears to be involved in
a seemingly interminable litigation.
Reynolds sold stocks in the road
throughout the East, it is said, even
to bellboys and working girls.
Reynolds formed many companies
aJld corporations, each with a fabu
lous capitalization largely on paper.
The character of the campaign plan
ned by Reynolds and begun' by him
in a whirlwind performance of about
three weeks before he reached Seattle
may he indicated by excerpts from
news matter printed in his paper,
"The Daily Prospector of Valdez."
In a recent issue of that paper Rey
nolds gives the following statement
of his enterprises:
"Many have expressed the belief
that Reynolds was merely the agent
of Wall street In this, but such is not
the case. Realizing that the funds
that must pay for things must come
from the public, he is backed solely
by the.peo.ple, who trust him implicit
ly. Probably it will be a surprise
to many to know how comprehensive
and far-reaching the Reynolds system
has grown in the past few years. The
foundation -of the whole structure
the Reynolds . Alaska Development
Company, with a capitalization of
$3,000,000. This stock Is Selling at
300 per cent premium and advanced
100 per cent in March,, during the
,
BERKELEY, Oct. 19. Cali-
foinia defeated the University
of Nevada at the annual football
game on the California field
this afternoon. The score was
25 to 0. The Sagebrush play-
ers were outplayed at Rugby,
the game today. The Nevadas
have been playing both Ameri-
can style and Rugby this sea-
son, which accounts in part for
the poor showing against the
blue and gold. - The first' big
varsity game' oS the season
showed California to be in good
shape. California made five
touchdowns the first half, and
had things. all their own' way,
the score being 15 to 0.
.In the second half Nevada re-
covered and fought hard. Fol-
Bom made a pretty run of 30
yards and got the ball within
a few yards of the goal, but
California punted out and spoil-
ed Nevada's chance of scoring.
, In the sacond half California
scored two touchdowns and one
field goal, making the score23
to u. .
STANFORD DEFEATS
THE BARBARIANS
(Associated Press.)
PALO ALTO, Oct. 19. In a sen
sational finish, Stanford defeated the
Barbarians this afternoon, 16 to 13,
when the score was 13 to 11 in the
visitors' favor and two minutes to
play. Miller, Pemberton and Cook
rushed the ball over the line and
Miller kicked the goal. Stanford
scored live in. the first half and the
Barbarians tallied three on a penalty
kick in the second half. Elliott and
Buckingham of the Barbarians car
ried the ball sixty-five yards through
a scattered field to try. Buckingham
broke his leg in this half trying to
tackle Brown, and Throop of Stan
ford was retired with a strained
shoulder. Mitchell, Fenton, Miller
and Holman starred for Stanford,
and Elliott, Buckingham and Snedi
gar for the Barbarians.
HARVARD AXI) MIDDIES.
(Associated Press.)
ANNAPOLIS, -Md., Oct. 19. The
Midshipmen and Harvard teams met
at football for the first time in the
history of the two institutions. The
result was Harvard 6, Navy 0.
YALE AXD WEST l'OIXT.
, (Associated Press.)
WEST POINT, Oct. 19. In a hard
played, line-smashing game, before
the bjggest crowd of spectators ever
gathered at the military academy,
West Point held Yale to a tie, neith
er side being able to score through
two exciting innings.
KXTEIITAIX XEGIIO KIS1IOP.
RICHMOND, Va., Oct. 19. Mr.
and Mrs. Potter of New York last
evening entertained at dinner Bishop
Ferguson of Africa, the only negro
entitled to a seat in the house at
the bishops' convention.
PANAMA LOCKS
MUST BE WIDER
MURDER
in str
'' SAN FRANCISCO, Oct. 19.
As the result of trouble over a
transfer slip on a Polk street
car of the United Railroads sys-
tern this evening, one man was
shot and killed, another so seri-
ously wounded that death will
probably ensue, and two other
men more or less severely in-
jured. The slain man was
terrific panic when ' Wall street
stocks were dropping 20 and 30
points." ,
(By Associated Press).
WASHINGTON, Oct. 19.
The locks for the projected Pan-
ama canal must be wider than
were originally planned. Such
is the opinion of the naval
members of the Isthmian Canal
Commission, Lieutenant and
Civil Engineer H. S. Rosseau,
who arrived in Washington di-
rect from the Isthmus. It is
presumed that he bore this
message from the commission
itself. Undoubtedly the build
ing of the -giant Cunarder, Lu
sitania, was the basis for the
projected change of plan, which
will involve the expenditure of
many millions of dollars, and
an extension of the time esti
mate for the completion of the
canal project.
Charles Moss, a hod carrier.
Otto P. Enerweln was shot
through the neck and eye and
will probably die. John Monger,
a hod carrier, was shot in the
leg, and Joseph Steffens will
probably lose the sight of his
left eye, which was filled with
shattered glass. 4
The conductor of the car, E. B.
Brown, and Motorman E. A. Purcell
are at the City Prison and will be
charged with murder. The man who
started the trouble was John Menger
He said that when he paid his fare
he asked the conductor fora trans
fer. Brown was busy and told Men
ger to wait a while. Menger repeat
ed his request several times, and
Brown failed to hand him the slip
Finally Menger concluded Brown did
not intend to give him the ticket.
and struck at the conductor. The
latter dodged the blow, swung back
at Menger, knocking him down. All
tnis disturbance happened on the
rear platform, where Menger had
been talking to two men, named
Goldstein and Moss. , These men say
that when Menger was knocked
down, they saw Brown draw a revol
ver and grappled with him to pre
vent hlin using It. Brown's face
would indicate that preventive meas
ures included more than seizure, ps
his countenance is battered, bruised
and cut. It was at this juncture the
shooting commenced. At the same
time some one threw off the trolley-
pole, bringing the car to a standstill.
The stoppage of. the car, coupled with
the noise in the rear, led Motorman
Purcell to believe his mate In danger,
and revolver in hand he pushed his
way thorugh the crowd of passen
gers. Women and children . were
thrown into a panic and made a rush
to escape. Women trampled upon
children, and windows were broken
by the affirighted passengers. Moss
was the first to receive a bullet. He
was shot in the abdomen, and as he
staggered from the platform a sec
ond bullet pierced his lungs. He
walked a few feet and fell to the
sidewalk dead. The shooting of the
other men was done in the confusion
of scuffling and fighting. One shot
had been fired before Motorman Pur
cell reached the rear platform and
then shot after shot followed in quick
suc.cession.
NEW ORLEANS
HAS SMALL RIOT
NEW ORLEANS, Oct. 19. A
party of negroes barricaded them
selves In a down-town house, last
night and started a small riot. One
,
policeman was killed and several
were wounded. One negro was
wounded and five were arrested.
The trouble started in the Second
German Presbyterian church during
the service, when several negroes be
came boisterous.
TWO MKX KIIXKD.
HARTFORD, Conn., Oct. 19. A
machine used in the manufacture of
illuminating gas from petroleum In
a small structure on the hank of the
Farmington , river, exploded today,
killing two- persons and seriously in
juring one.