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"FRENZIED FINANCE" IN OHIO.
RflTflERflW UNUSUAL THfiW VOU - NOW JU3T TO SHOW YOU THAT rn/uirocHT ' HERE'S SOnt OF rtY OWN TOOLA7C CUME THE LUCK 5HE'SGOTW.lT DOUGH THAT BIAT OUR GflttE Chicago Journal. THE COTTON SLUMP. Far-Reach in : ; 12 fleet on This Urancli of Great Textile Iiidiibtry. Tho cotton branch of the groat textile industry the next largest engaged in manufacture in the country ? being out ranked only by iron and stool is para lyzed by the tremendous slump in the price of raw material. The buying of cotton goods is practically at a stand still and salesmen representing the lan ; commission houses of this and other citie arc being pulled off the road. Jobber and converters will not buy cotton good > and commission merchants are loath t- buy raw cotton , owing to their inabilit to sell. Gradually the swiftly movin wheels of industry , always intcrdcpcm1 ont , are ceasing their busy whir in coi sequence of this condition. The palsy is due directly to the slum in the price of raw cotton from 10' cents to 7JX > cents a pound during a bu > - interval. It was made complete by tl government's ! report on the cotton ha vest , indicating a harvest of 12.1(52,70 ( bales of the staple , or nearly 1,000.01) ) : . bales in excess of the greatest crop ever garnered iu the countryMuch cotton had been sold to manufacturers around 10 cents a pound ; now the prospect is for still loiter prices even than 7'/j cents. Commission merchants and mills had adjusted tneir selling price to the high price of cotton : now buyers of cotton goods are unwilling to buy the finished goods on that basis ; they wait for lower prices. Hence the stopping of business and the paralysis of a great industry. There lire dealers who express the belief that cotton would swing on the down turn far below its intrinsic value , in reverse to the movement which car ried it up to 17i : cents a pound. These men. chiefly buyers for jobbing and manufacturing houses , profess to believe that cotton would eventually touch 5 cents a pound. For two years little business has been done because of the high price of raw cotton ; and now there can be no busi ness done because it is too low or likely to be. In the first instance mills were closed because goods could not be sold at a price high enough to pay the manu facturers ; and now , on a falling market , jobbers and converters arc frightened into inactivity. tATEN BY OLD OCEAN. Changes Going on Everywhere Alonjy the I ine of the Sea Coast. M. Chevral , secretary of the Tours Geographical Society , said the other day in an address to the society that the latest surveys of the French coasts had ehown that within the last few years the republic had lost about five square miles of territory , which had been torn to pieces and washed into the sea by the ocean storms. The loss of land would have been considerably greater if it had not been that the destructive waves had carried part of the debris into bays like that of Mont Saint Michel and into estu aries like that of the Soinmc and piled it up along the shores , extending the land * little further out into the sea. These changes are going on every where. The British estimate that the erosion constantly in progress along their coasts is just about made good by the debris swept up along the lower parts of the shores , forming new laud. Eng land is so densely peopled that it cannot afford to lose territory. It manages to keep just about the same amount of standing room. Some countries are gaining territory at the expense of their neighbors , and without any excuse for kicking up an in ternational row. This is the case with Tonkin , whose great rivers rise among the highlands of western China and de scend into the low Tonkin plain with so wift a current that they bring a part of China with them and spread it over the big French colony. Tonkin is push ing out into the sea at the rate of nearly 50 feet a year. Its capital , Hanoi , stood ca the edge of the sea twelra centuries . tat b new far inland. You can fool some of the Ohio bankers ; ome of the time , anyway. It should be noted that the sands oi leap year are ebbing fast. Certainly there is no lack of work laii ut for "the Congress" to do. Any one whose children are crying fo Id junk should call up St. Louis. Coxey now knows how the rank an- 10 of his army have felt ever since. Frenzied finance seems to nave attrnc d a member of the weaker sex here ai .ere. Mrs. Chadwick may have thought s ! as furthering Mr. Carnegie's ainbitii. io die poor. Tom Lawson of Boston bogs to call at tention to the fact that the panic came off as advertised. St. Louis has had its fun. The ro l of the entertainment consists principally of the headache. Though the President saw fit to ignore it , the high tariff can hardly feel that it is out of the woods. Uncle Sam's next great reform will bo conducted under the rallying cry , ' 'Help keep the Cubans clean ! " St. Petersburg thinks the situation at Port Arthur is critical , but hasn't it been that way for six months ? It is a good thing there are no more Mrs. Chadivicks , or suckers would have to be born oftener than one a minute. Xow that the original "Katy" girl has been sued for divorce the conductor may issue her a transfer to some other line. If the law of supply and demand is still working there should also be a sharp decline in lambs' wool on Wall street. Another great reform has had its in ception in Chicago. A police magistrate fined a man $75 for "borrowing" an um brella. Private Secretary Loeb cannot deny , however , that the President's family did things to tnat turkey some time on Thanksgiving day. A small and rapidly diminishing aggre gation of army mules is about the best Port Arthur can hope to do in the way of a live stock show. Another attractive feature which Gcu Miles sees about that Massachusetts nail itary job is that there will be no officious War Department around to bother him An insane woman won the prize bj working a rebus for an eastern magazine. This is not strange , as only insane people- have the patience to work such thiug- ; out. ANOTHER IRISH FAMINE. Failure of Potato Crop Causes Great SufTc-injx in Emerald Jsle. Immigrants who arrived recently ii New York from Ireland bring news o , terrible privations and want now boiiu suffered by the small farmers in the Em erald Isle. During last week 2,000 poi sons , fleeing from the famine-strickei counties of western Ireland , have enreroi the metropolis. Stories of hardships an told by the immigrants who land at Elli- Island. The agent for the Irish Immigratioi Society , who has just returned from Ire land , thus explains the conditions there "The poor of Ireland live on unproduc tive bog laud , over which they wor ! nipht and day to produce food and keo shel r over their heads. The ground will aot permit a living and a savin ? , too. When c pps are good they < ca < live ; but when a crop fails they mus. starve. " AN UNUSUAL OPERATION. Surgeons Graft Live Rabbit to Leg of Ilnrned Boy. Very unusual was the operation per formed on Cornelius Post , a 15-year-old boy , a few days ago. when surgeons at St. Mary's hospital , Passaic , N. J. , graft ed on a 15-inch wound caused by a burn a portion of the skin of a live rabbit which was chloroformed and bound to his leg. Anaesthetics had been refused by Jic plucky lad who , for three-quarters > f an hour , underwent the severe pain A ithout flinching. Two years ago Cornelius Post carried linner to his father , who worked in the 'onsumers' Match factory , at Clifton , n some way he obtained a piece of phos- horus and put it in his pocket. It burn- < l through to his skin. The boy has un- ergone several skin grafting operations , > me of which have been successful , and 'ie burn is much smaller than it was , it all efforts to heal it have proved fu- le , and it was finally decided to resort an operation so rare as to have been , reviously attempted with success only throe times. The burn is on the loft leg , just below the hip. and is about 15 inches long and < ix inches wide. The half-formed and gianulaled tis-'ie was scraped down to i the muscle , the boy suffering terrible pain but only now and then giving vent to his feelings with such expressions as "Doc tor , please bo careful. " The skin of the rabbit was then clip ped parallel with its spine from its tail to its neck , three inches wide and fif teen inches long , the strip remaining at tached to the animal at the neck. The rabbit was chosen because of the elas ticity of its skin , and when the strip was clipped off the edges of the skin on its back were drawn together and stitched. The animal was then placed under the boy's leg , its back at right angles , and | the flap of skin was carefully placed over the burned spot. For many days tho boy will be constantly attended by a nurse. u P-TO-DATE BLACKMAIL ING. Organized Uan-1 Demands $100,000 from Cai"Tiaii Railroads. A well-organized band of audacious blackmailers has , for several months past , been trying to coerce the stock holders of the Canadian Pacific and the Canadian Northern railroads into dis gorging $100,000 , or suffering the penalty of a scries of wrecks. That the latter is not an idle threat is shown by tho fact that within three weeks eighteen attempts to wreck through passenger trains at widely separated points on Loth roads have occurred. J. G. Burly , general superintendent of the Canadian Pacific , received in August a threatening letter demanding $50,000 from his road and $50,000 from the Ca- < iadiau Northern. He paid no attention to the letters save to place detectives on all trains. Toward the close of that month another letter was received and then a third. The letters all demanded that the com pany show white instead of green mark ers on the through trains to indicate that negotiations might be begun. No attention was paid to the demand , and within tho last month narrow escapes from derailment have been of daily oc- rcurencc. The band is believed to be very ex pert , and those who have done the actual work are thoroughly versed in railroad knowledge. It is now thought that th accident in which Lord Minto's train ran into an open switch , killing five persons , was one of the first moves of the band , for the railroads say that the opening of the switch could not have been an accident. There have been two train hold-ups in western Canada and scores of bank md other robberies , all of which are tttributecl to the unsuccessful blackmail ers of the railroads. The Canadian and Vmerican police and the Canadian secret service are in constant communication concerning the robberies. BUBBLE HAS BURST. CHADWICK MYSTERY OF MILL- IONS ENDED. In Bank'fi Stronjj Box Carnegie Name Is found on Paper of the Face Value of $1G,4 .000 Signature la De clared a f The Cliadvrick bubble has burst com pletely. In the history of freji/.ied finance it will form a part of the chain of wrecks that have strewn the path of coveteousness since the flotation of the great Mississippi Company by John Law of Scotland and France. Mrs. Ghadwick's mysterious securi ties , when exposed to the light of day , Instead of being worth millions of dol lars , were found to be nothing but se many sheets of worthless paper. Cleveland attorneys declare that It was the evident purpose of Mrs. Chad- wick to borrow as large a fortune as possible on the notes signed "Andrew Carnegie , " evidently forgeries , expect ing tli at before the expose came the steel magnate would die. She was sure , according to this theory , that a settlement with his heirs would be a very easy matter. The bubble was pricked when A. A. Stearns , the Cleveland attorney for Herbert D. Newton , of Bos-ton , the creditor primarily responsible for bringing the meteoric career of Mrs. Chadwick to an end , made an authori tative statement that the mysterious package of securities left with Iri lleynolds included paper of the face value of § 15,240,000 , which bears the signature "Andrew Carnegie , " and Is regarded as worthless. There is a note for the modest sum of $5,000,000 , bearing the name of the Iron master , and the other $10,246.000 Is represented by a trust agreement keepers also have been bask * by the failure. Cofneident with the examination of the package of securities the Federal authorities got btiKy with the organi zation of the special grand jury called to Investigate the Chad wick case. The basis for the system that has wrought havoc to an extent yet un known , for the stories of ruined homes through loss of savings are only begin ning to come in , is now shown to be strikingly akin to that byliich the bunkers of France were defrauded of millioHa in the Humbert case , which is of such recent memory as to be almost contemporaneous history. Mrs. Chadwick's inheritance seems to be ay mythical and her benefactor as ficti tious as the inheritance from the Imaginary American millianaire that was supposed to be in Mine. Hum bert's safe. That Dr. Leroy S. Chadwick , now in Europe , was in the plot with his wife to borrow vast sums on bogus se curities Is the assertion of Iri Reyn olds , treasurer of the Wade Park bank , trustee for the mysterious pack age of Chadwick "securities. " Dr. Cfcadwlck , he asserts , also knew about a trust agreement , bearing the name of Andrew Carnegie , deposited with Reynolds , asserting that Mr. Carnegie held securities worth $10,240,000 be longing to Mrs. Chadwick. It is now said that although the notes bearing Carnegie's name were forged Mrs. Chadwick cannot be pros ecuted for forgery , as she did not at tempt to sell the notps. A Dazzling Chapter. It was in 1S97 that Dr. LeRoy Chadwick , a widower of no especial prominence and having a small prac tice In his profession , brought a bride to his native city of Cleveland. They had been married in Pitlsburg. She was fair of face , a trifle over 40 , and possessed of a magnetic manner. Still she attracted no attention until she & & * j&rfl ® $ * V " * / * * * tJjS"J 7r - " : r * \ " * 1 * , * " / * * * * * + * * - 'J < fS5 . ' A& fj& 'VMtMAM - rv MtLUb KU MRS. CASSIB I. . CHADWICK. concerning an alleged inheritance placed In Mr. Carnegie's keeping , the estate of a supposed uncle of Mrs. Chadwick , named Frederick R. Mason. In another packet there also is a promissory note for $1,800 , signed by Emily and Daniel Pine , and a mort gage securing the same. This Carne gie paper with the $1,250.000 in notes bearing the iron master's name previ ously accounted for bring the total of this class of "securities" to $1G.49G.OOO. With the denouement concerning the securities there comes the story of ruin wrought by Mrs. Chadwick's oper ations and the consequent failure of the Citizens' National Bank of Ober- lin. Iri Reynolds , it is declared , Is a sufferer financially as well as other wise through being the prize dupe of the case. The faithful guardian of the securities on which the Chadwick financial system was based for three years or so , it is stated , let Mrs. Chad wick have nearly all the money he possessed , but his entanglements are personal and do not involve the Wade Park Banking Company , of which he is secretary and treasurer. It is among those of meager cir cumstances , however , thai the greatest real suffering falls. From Oberlin it Is reported that the student body of the college located there has been hard hit At least fifty students had their savings on deposit In the Citizens' Na tional Bank , and these have been wiped out. Many - " these students , some of whom are In their senior year , will be obliged to leave their college course uncompleted as a result of los ing all Several student boardtnjt- and her huband moved into a mansion on Euclid avenue and began to show evidences of enormous wealth. Enter tainments weie given at the house costing thousands of dollars. The stores of the city began to consider her their best customer , for she bought in large amounts and always paid cash. On a Christmas tve she invited her husband to go to the theater. Be fore leaving the house she had a talk over the telephone with a furnishing house. When Dr. Chadwick returned home with her the interor of the house had been completely transformed in equipment as though some fairy god mother had waved her magic wand over it. Not a piece of furniture , not a hanging , rug. picture , ornament , not a single thing that had formerly been there remained. Everything was new. Some time ago she took 'twelve young ladies out of Cleveland society on a trip abroad. When they returned she had a miniature on porcelain of each one. These she had framed in 18-carat gold and presented to the young ladies as souvenirs. One of her favorite pastimes was to walk into a store and ask to be shown diamond rings. She would buy half the con tents of a tray enough ro pay the rent of a castle. Once she sent a To ronto jeweler abroad to buy a certain gem for her and he traveled 12,400 n.iles to get It , she paying his expenses and 53.000 for the gem. She bought fifty-six rtngs of one firm. One day she purchased eight pianos and had them tent to friends. She gave her ook a sealskin coat which reached t ? tfce ffivtiBd , THE WEEKLY1 One Hundred Years Ago. The British under Admiral attacked Fort Rouge at the entr of Calais harbor. Russia had seventy sail of thej in commission In her navy. , The French ambassador left \ stantinople , as the Ottoman portq fused to acknowledge Napoleon' hereditary emperor. , The surveyor of public buiklingj Washington reported to Congress j $57,005.72 had been spent in one s on the Capitol and White House. | Seventy-five Years Ago. A Canadian priest ordered that Catholics in his parish who had b married by Yankee ministers or nut. tratos be lawfully remarried by h Slaves were selling for nearly n ing at New Orleans. Almost every s brought them to that port , and ow to the failure of crops the planters little money to buy them. A civil war began in Chile. The reduction of wages caused strike among the weavers of Novwii' ' England. Fifty Years Ago. The king of the Sandwich Islam to prevent the overthrow of his go ; eminent by lawless violence , accept' Jie akl of the naval forces of the Uui ed States and France. The Spanish minister of foreign a fairs declared in the cortes "That tl sale of the island of Cuba would I the sale of Spanish honor itself. " Peace was restored at the Balktrz. gold diggings , Australia , after a reig of terror lasting weeks , iu which twei ! ty miners had been killed and martial law established. Commercial reciprocity had been ar ranged between the United States am Great Britain. It opened to American the Bea fisheries in British provinces ] Forty Years Ago. General Dix issued an order for prisals on Canadians beoause of St. Alban's raid. It was annulled latef by Lincoln. i Sherman stormed F rt McAllister , near Savannah , Ga. Cook County , Illinois , voted a boun ty of $100 for every man who would enlist for army service. .1 Springfield ( III. ) citizens were 07 , alarmed over a report that the Illinois Central Railway was ready to givxe the State a bonus to have the capital removed to Decatur. A number of soldiers were killed and many wounded in the blowing up of the transport Maria at St lx > uis. Thirty Years Ago. An exchange of notes took : place be tween Washington , D. C. , and Madrid concerning the Virginius affair. A Congressional investigation of the Pacific mail subsidy increase , and the bribery charges connected with it , was commenced at Washington , 1) . C. 4 The watch presented to Marquis de i'j Lafayette by Washington and later sto len from him , having been recovered , was presented to the Frenchman's grandson by the American minister to France. King Kalakaua of the Sandwich Islands was in Chicago en route to , Washington , D. C. , to perfect a com mercial treaty. The taking of evidence in the trial of Count von Armln for the abstrac tion of official documents from the rec ords of the German government closed hi Berlin. Twenty Years Ago. The announcement was made York of the gift of $ ; JOO.OOO by Mias Mary G. Caldwell to the Roman Cath olic Church for the purpose of found ing a university. President Diaz of Mexico ordered closed all of the gaming houses In the City of Mexico. The President sent to the Senate with a note of review and commenda tion the commercial treaty between the United States and Spain. The Superintendent of Public In struction in Illinois reported that the enrollment of the pupils in the public schools of the State for the year had been 728,081. len Years Ago. Two hundred persons were killed by an earthquake in the vicinity of Mes sina. Italy. Nelson Morris , of Chicago , brought suit for over $500.000 damages against the American Distilling and Cattle Feeding Company ( the whisky trust ) , alleging breach of contract. The Socialists. led by Tommy Mor gan , started a fight for control of th convention of the American Fetter- titn in Denver. ,