Newspaper Page Text
Rock Island Daily Argus.
OL, XI 127
ISJLAMD, TUESDAY, 51AKCU 22, 1892. ,
1 I Fer Weak 19 Cnt
I T -r- J-V m - -w . I " " -CI
THRICE or LARGER!
the London's stock this spring than any other
house in the city.
e are proud to state- that the dwellers of any
wn, any city even, none excepted, will not have
e advantage d'any choicer stock, better assort
ed: r. or later styles than . .
THE LONDON .
,s before the citizens of Rock Island this spring.
Three weeks of constant, persistent, painstaking,
conscientious labor in the very headquarters of
the clothing industry of the United States, en
ables us to speak with confidence on the subject.
For a beginner we offer:
50 Men's Suits at
Square and round cut.
. y$r J &
hat and cap department
full and running over.
HATS Three times as many hats as any other
house, and we guarantee to save from
yjlL LVUJ lid I.
ould be pleased to show you through our
slck if you wish to purchase or not No trouble
to show goods.
SAX &- R1CE. Largest Room, Largest Stock.
NO LONGER A TRUST
The Standard Oil Company to
Terminate Its Career.
WILL BE ANOTHER KIND OP OCTOPUS
Kesolutions Adopted by the Trust Cora
bine Which Will Close the Deal In
Four Months Iodl Gives lt History
and Notes Some Popular Misapprehen
sion an He See the Matter The Con
cern Will Continue Business at the
Old Stand in Auother Form.
Xew Yoiik. March 22. At a meeting of
the holders of the Standard Oil Trust cer
tificates, at the office of the trust in this
city yesterday, a resolution to terminate
the agreemeut forming the trust was voted
upon aud adopted by a very large majority,
over two-thirds of the certificates being
voted in favor of the dissolution. More
than 200 of the certificate holder were
present. John D. Rockefeller was chosen
ihairman of the meeting and .lolm D.
Archbol.l secretary. The following res.
lutions were offered by Mr. S. C. T. Uodd:
Appoints a Hoard of Trustees.
Resolved, That the agreement d;ited Jan. 0,
lsss, commonly known as the istauiliml Oil
trust agreement, and the supplement thereto
dated Jan. 4. ISS!), be and they are hcreby
tcrrainated this aist day of March, 1. Anil
fnrther resolved, that the affairs of the trust
(hall be wound np by John 1). Rockefeller, M.
H. Flatrer, William Itockefeller. John 1). Arch
ImiM, Henjamin HrewRter. H. W. Rubers, O. H.
Jenuinits and "Vesley II. Tilford, and the sur
vivor or survivors of them, in the following
All property held by said trust, except stocks
of corHra ions, shall lie sold by said trustees
at private sale, ami the proceeds thereof, f
Rether with any money belonging to the trust,
shall Ik- distributed to the owners of trust cer
tificates, according to their respective interests
Disposition of the Storks.
All stocks of corporations held bv said trust
ees shall be distributed to the owners of the.
trust certificates in proportion to the respec
tive interests of said owners in the stocks s
held in trust, ns cvidenci d by said trust certi
ficates: that is to say each owner ot a trust certi
ficate or ciltiliciitcs shall be entitled to deliver
said certificate or certificates f.-r cancella
tion and to receive in lieu thereof nn assicu
imcnt of ns many shares or tract ions of shares
in each of the corporations whose stocks are
held in said trust as he is enti
tled to by virtue oC said certificate
or certificate-'- it licinc the intent
ami meaning of this resolution that, the equita
ble interests in said storks represented by trust
certificates may thus on demand be converted
into hval interests represented by assignments
and transfers of said stiw k by said trustees to
the parties entitled thereto, which transfers
and assignments may be entered on the hooks
of the several corporations upon the demand
of the holders of such assignments, therchy
rnercinjr or converting equitable ownership
into legal ownership in said stocks.
Trustees' Acts Its ti fled.
All purchases, sales, exchanges and cancel
lations of stocks or agreements, therefore, ex
ecuted or executory, male by, the trustees
during the existence of the trust, and all
assents by said trustees as stockholders to pur
chases, sales, and exchanges of corporate prop
erty and to the formation and windinir np of
corprt-atlons, and all other acts of the said
trustees during the existence of the trust, are
hereby ratified and continued.
Provision is made in the resolutions for
filling vacancies in the trustee body, act
ing by a majority vote and limiting the
power to vote on any stocks standing in
the name of the trustees to four months
from the date of action March 21.
HISTORY OF THE GREAT TRUST.
How an "Octopus Was Horn That t.rew
Around the World.
In speaking in support of the above reso
lutions Mr. IV shl paid: 'Something over
ten years ago a few individuals owning
stock in a number of corporations engaged
in transporting and refining oil entered
into an agreement by which their stocks
were placed in the hands of trustees, and
certificates were issued by those trustees
showing the amount of each owner's equi
table interest in the stocks so held in trust.
This was not done in order to vest the vot
ing power in the h.ids of a few persons, lie
cause the persons chosen as trustees then
held, and always have held, the voting
power by virtue of their absolute owner
ship of a majority of the stocks.
Other Things it Didn't Do.
"It was tm; i.one to reduce competition,
because the companies whose stocks were
placed in. trust were not competing com
panies and could not be so lung as their
stocks were owned by these few jiersons.
It was not done to limit production or to
increase prices, but, on the contrary, it
was done to increase production, cheapen
cost of manufacture and to lower prices,
and it has been successful in that object
far beyond the anticipation of those who
originated the plan. It was called
'trust' because it was a trust in the sense
in which the word was then understood.
It vested a fiduciary obligation in a few
for the the benefit, of many, and the
trustees thus created have fait hfullv ob
served the trust confided in them.
Wicked Trusts Sprang I p.
"Other persons, however, found this
trust plan a convenient one, and it is al
leged that it lias been adopted for and
adapted to purposes quite different from
those which actuated the framers of this
trust. Whether these allegations are true
or false, it is true that a trust is now de
fined to be a corporation to suppress com
petition, to reduce product ion and to in
crease prices. Public opinion has not un
wisely been aroused against combinations
for such purposes, and legislation of more
or less severity, and rat her more than less
peculiarity, has been directed against
them in seventeen or eighteen states of the
So the Good One Mnst Go.
"All such arrangements are now mis
called 'trusts,' and all 'trusts' are popu
larly supposed to partake of the same
nature. For this reason, if for no other, it
should be seriously considered whether
thi-j trust" should not be terminated. So
long as it exists this conception ot its pur
pose will exist." Mr. Uodd then said that
there was auother reason which made it
desirable to dissolve this trust, and re
ferred to the recent decision of the Ohio
supreme court, which he said made the
trnst what it was never intended to be,
and decided that the Standard Oil com
pany had forfeited its charter.
Going Business at the Old Stand.
lie then proceeded: "The trust cer
tificates are evidences of equita
ble titles in stocks, the legal title to
which is rested in the trustees. It is pro
posed to convert this equitable title into
the legal title. Your interests will be tbo
same as now. The various coroorations
will continue to cio tne same ousiness as
heretofore, and your proportion ol their
earnings will not be changed. You will
understand that 'A' will not get stocks
in one corporation and '1$' in another
Each one will get his due proportion in
the stocks of all.
Small Companies Will Die.
"Smaller companies have been and will
be wound up and go out of existence. The
shares as finally distributed will not rep
resent so large a number of companies as
hare been represented in the trust, bat
they will represent the entire interest held
by the trustees. y0u will under
stand that these stocks now stand on the
books of the various corporations in the
names of the trustees, and so long as they
stand no other persons can vote at meet
ings. To end this voting power today
would leave the voting power to no one.
When the stocks are transferred on the
books to the actual owners, the voting
power will vest in them. A reasonable
time must be allowed for this change, and
the resolution fixes it at four months."
The Trnst Voted Out or Existence.
Mr. Uodd moved the adoption of the
resolution, and his motiou was seconded
by Alexander E. Orr, who spoke in the
same strain, after which the voting by
ballot was begun. When the votes had
been counted it was found that 736,000
shares had been voted, all of which were
cast in favor of the resolution to terminate
the trust. The meeting then adjourned
A meeting of the stockholders of the
Standard Oil company, of New York, will
be held soon to consider the increase of 'the
capital stock, and other state oil compan
ies will follow its example.
CRUELTY OF MEXICAN BANDITS.
Tin- Itcvlish Tortures to Which a Rauch
inan Was Subjected.
TuMMsTONK, Ariz., March 22. The In
dians have always been known for their
devilish toitures, but it has remained for a
band of Mexican bandits to cap the cli
max. "Dutch" Henry's band of horse
thieves raided Henry Wither's ranch ou
thetiarrita river recently, driving away
all his stock. Wither's started after the
band single handed, and succeeded in
shooting down three of them front ambush
before they discovered that only one man
was pursuing them. They succeeded in
capturing him as he was trying to get
l eft Tor llie Ants to Eat.
Death was his sentence, but shooting
was too easy a death. Withers was taken
out on the hot sand beds and left to lie
naked for several hours, fully exposed to
the sun's rays. This was not enough, and
he was then carried, still nude, to a bed of
cactus bushes, where he was laid on the
sharp poitits. He was bound tightly to' a
stake, and then a large ant hill which
was near w as torn open with sticks ami he
was U ft to his fate.
A Warning to Others.
The insects swarmed out aud over With
ers' In sly and within two hours he was
dead from their bites. The ants did not
leave him alone, however, until every par
ticle of flesh was eaten from his bones. A
prisoner ot the band was taken where he
could witness the whole affair, and was
afterward turned loose and told to tell
the people that that' would be the future
punishment of all who tried to kill a mem
ber of t he band.
CIVILIZATION IN ARKANSAS.
It Seems to Have Reached
V.w Hi kkx, Ark., March 22. Sunday
night a tragedy occurred near Fuller. Scott
county, in which Robert Doss and Jeffer
son .Tones were mortally wounded. Doss
had Wn paying attentionto.Tones' daugh
ter. Wednesday night, because of some
mischief of which Doss was accused, she
refused to allow him to escort her home
from church. Several young men began
jesting Doss, and a light ensued in which
Doss was badly whipped. Sunday he came
to church armed with a double-barrelled
shotgun, and created a sensation by at
tempting to shoot one of his assailants.
Tiro First Class Funerals Imminent.
Jones, the father of the young lady, who
resided within a few yards of the church,
ctept, out and hurried home, and getting
a Winchester rifle, returned and came
upon Doss and ordered him to surrender.
Doss turned and advanced on Jones. The
latter attempted to hide, but. Doss fired
before he found shelter, and Jones fell.
Jones, now prostrate, returned the fire,
and mortally wounded Doss. Both are so
badly wounded that they cannot possibly
The Doings in Congress.
W.sf!I;tov, March 22. Peffcr intro
jduced a bill in the senate yesterday to
fcive Sergeant T. C. Darter, Company A,
First ludUna. $10,000 for saving Pope's
army and Washington in July and Au
gust. lt2, from annihilation by the
rebtls. A batch of public buildinar bills
was passed, and a bill to refund to settlers
in the vicinity of a forfeited railway grant
the extra price they paid for land in expec-
utuon iiini me roan wouia be built was
discussed, and a vote showed no quorum.
The tension of Mrs. Anna Maria Young,
whose husband served in the Revolution
ary war, was increased to 130 per month.
She is fj years old. After an exeeutivo
sessiou the senate adjourned.
Rabbi K. G. Husch. made the nraver in
ihc house yesterday. The committee on
printing reported iu favor of exDuneine
frotn The Record the attack made on Will
iams and Hoar by Walter under "leave to
print. The military appropriation was
passed with a clause providing that rail
ways given assistance by the government
should not be paid for transporting troops
out of moneys appropriated in the bill.
.The tariff debate was then resumed until,
That Cotton Tax Dobs lp A (J ill.
Washington-, March 22 A bill to re
fund to producers the internal revene tax
collected on cotton was introduced in the
senate yeRterday by George. The bill asks
the secretary of the treasury to ascertain
the amount of internal revenue tax col
lected on cotton in each of the states and
to refund the proport ionate amount to be
held in trust by the states for payment to
the producers. Claims under the act may
be filed within two years after its passage.
Don't All speak at Once.
BerxiS, March 22. The uew grand duke
of Hesse, Ernest Louis, will, for reason of
tate, forthwith seek a wife. He is 24
years of age aud quite good looking for a
IT IS A STATES RIGHTS ROW.
Cause of the Excitement in the Repub
lic of Venezuela.
Caracas, Venesuela, March 22. Gen
eral Colina, who headed the revolution
of 1874 against Guzman Blanco, has been
nominated for president by the liberal
party and a red-hot campaign is being
waged. President Palacios has procured
the suspension of the constitutions of five
states and is endeavoring to strip them all
of their individual sovereign rights and
form's centralized republic, as Nunez has
done in Colombia. States rights ideas
have always been predominant in Venez
uela since the time of Bolivar, and are be
lieved to be now stronger than ever. Presi
dent Palacios is urgingcongress to increase
the dutiesou imports from the United
Ruffianism or Tale Student.
Xew Haves, March 22. A party of Yale
men, bent on a lark, broke up the last act
of "The Vendetta' at Bunnell's Grand
Opera house Sunday. Ouc of the students
threw a snowball, hitting one of theactors
Another missile struck Miss Field, the
leading lady of the company, and inflicted
quite a severe blow. stunning her for a few
minutes. Four of the disturbers were ar
rested. Keen Striking for Kight Months.l
Wilkesbakhk, Pa., March 22. The
Montour Iron attd Steel company, of Dan
ville, Ta., resumed work today, employing
400 men. The puddlers agreed to accept
the $3.30 basis. The families of the men.
who went on strike eight months ago, are
in a destitute condition.
LIVE STOCK AND PRODUCE MARKETS.
CmcAiiO, March 21.
Following weio tin quota' tons on the
hoard of trade today: Wheat March, opened
&aic, closed 8:. tic. Slav, opened S44c closed
:sc: July, open--1 K'4c, closet Wc. Corn-
March, opened an l ciosed :!7e; May, opened
3S1-SC, clo-ed 3s'4c; June, openet 3T?fr closed
"Jioc. Oats May, o-ienul atJufi, closed c7J-;
June, opened , closed ".TTv?. Pork March,
opened ll).0 closet i'JS; M: -, opened
$10.15, close 1 fl0.(; July, opene . $10.;i
closed S1U.171. 1-ard Mar.h, opened fCJl,
close.l ti.l i.
Live stock Prices at the Union Stock yard
today ranpeil as follows: Hogs Malket
active, and pricei .V hii-her; saloa ranged al
$3.80Stl.Ui pigs, f.4VT-.4.S lijjht, f4.uiai
routh packing, S44KTU.S0 mixed. and
$4.;$j(i4.Tj heavy packing aud shipping Iota.
Cattle Market moderately active and prices
atcaiy; quotations ranged at J4 iiof,5.10 choico
to extra thl;(pintt steers, J i.ajij.4.55 good to
choice do. $i.Vi,7-i.9i fair to good. $-ti58l5i
common to medium do, $:UM:i.(id butchers'
fctcers, S.Viii&'-.'i.-M stockers, SiTVa3.9J Texas
steers. filnr. AS.) feeders. $l.oil(j.4!) cows,
$l.;rnaS.tiO bulls and 42..Vi(ii6.jU veal calves..
t-heep Mari.t t moderately active aud prioei
higher; quotations ranged at J4.90 5.M
westerns, fi.rjO.S) natives, and $j.25a6.i
l"ro;luce: Butter Fancy separator. 7,3
2?c pir lb; creameries. .ii(i;7c; dairies,
fancy, fresh, JKi.-3c; pa -km; stock, fresh, It
(2.15c. Kggs rresh candied, lorn off, lSaiSc
per doa. Dressed poultry Spring chickens,
fair good, 1i&11o per lb; roraters, Sc; ducks,
l;14c; gee, i-lie; turkeys, younj turns.
U-c; fancy hens, 14c; old gobblers, !e. Pota
toes Hebrous, 3ifija:c per bu; Hurbankg, 3S
aXIc; Hose, -,35c for seed; Peerless. aj3c
for see.i; common to -oor mi je t lots, "WSJ
iic. bweet jotatoes. Illinois, Jl..'Jir.iS per
bbL Apples Common, f l..'tt per bbl; good,
$l.T5Si2."i; fancy, $2.-i.
New York, March 21.
Wheat No. 2 red winter cash, fl.02J;
March, fsUc; April, mi:; May, ttie. Corn
No. 2 mixed cash, 47liiC; April, 40-lc; Mav,
4.V4C. Oats-Dull; No. S mixed cash, 34c;
May, o4e Rye-Dull una weak; WH'Mc for
car lots. Bariey In lipht request; two-rowed
state, 535c. Pork Dull: mess, Sa.iOlC 0 1
for old. and S1I.UK5 U..V1 for now. Lard
Wuiet; May, Jti.4S; July, $6 fill.
Live Sto. k Cattle -Market slow at a re
duction of 10c per WU lbs; poorest to best na
tive t-t-ers $3.wi(34.!i0 per 10U lbs; Tetansand
Coon.dos, fX40a.'i"; bulls and dry cows,
$l.S0!u3Tli. Sueep anl Lambs Sheep firm;
lambs active and a shade higher f .tr choice
offorings: sheep, $5.001.81 per 10J lbs; lambs,
(S..it'xT.u. llogs Nominally steady; live hogs,
$ perlOO lbs.
The Loral Jllarket.
Cilice Rock Iehind D-ilt akd Wee-tlt Argfs 1
Uock Island, 111., March. 1693
G RAIT", ETC.
Bran -s."c per cwt,
Shipg'nff f 1.00 per cwt.
liar T-moihv.Sl0 501150;prairie, S&13:cIovcr
SS.10; baled, f 11 50.
Butter Falrto choice, 5c; creamery, i-i.-50
Rigs Fre?b.SKc; tacked 90c.
Poultry chickens, dQ,UM ; turkeys, I2tc
dacks, 1-J4c: geese, 10c.
THCIT AND VleVTABL-CS.
Apples f a.4Ex&$- t5 pcr bbl.
On ions 8m&b5c.
Cattle Batchers fty lor com fed steer.
34(344c; cows and beifci', s&3Hc; calv cs
. vxntn 1 uu vrui W I
PUREST AND BEST;
AT LESS. THAN
The price op other brands.
SOLD I N CAMS J).N UYt