Sandusky Star Journal, July 1, 1911 : Front Page

Publication: Sandusky Star Journal July 1, 1911

The Sandusky Star Journal (Newspaper) - July 1, 1911, Sandusky, Ohio FORTY-FOURTH YEAR SANDUSKYfOHIOi'SATURDAY; OFSTEEISIIPPLY JDreat Corporation Controls 75 Per Cent of Ore Of The Country HINES TESTIFIES IN THE LORIMER CASK JDVER HALF OF STOCK 1IVATER, SMITH CLAIMS .Capacity of Giant Company Much Greater Than Its Out- put Indicates the had It r nffivT WASHINGTON, D. c., July That less than half the original capital of the United States Steel corporation, is cov- ered by tangible assets, and that the prime object was restriction of competition, is set forth in the report of Herbert Knox Smith, commissioner of corporations, in an exhaustive report covering sev- eral years of research. "ljhe re- port was made public today. In brief, here are some of fcharges made in the report: When formed, the steel tnisT property valued at was capitalized at Of the capital stock or more than half was water. _ The cost of the subsequent" ad- to the property, of the cor- joration shows a total Investment in oroperty on Dec. 31 1910, of as against out- standing .securities. arerafe rate "of profit from 3.901 to 1910 on the corporation's ac- tual investment was 12 per cent. Am almost contiutfus decrease in the corporation's proportion of the output of principal stel products, hut B marked increase in its ownership Or control of iron ore is Ehown. The trust now controls 75 per cent of-lake ores. This, the. reports says, is the chief, feature of the trust's monopoly. Payment of millions to those men (who organizer! the trust is denounced, the report declaring their remunera- tion far in excess.-sof amount for services -fin- Bncial risk taken. Reviewing the combine's preesnt position in the industry, the report Bays -that from the beginning the -.sorporation has overshadowed its principal rivals', even exceeding all of Its competitors combined while- in the ten years of operation its control of production has dropped from 60 to 50 per cent., approximately, its position in ore reserves is much Stronger. The advantage of controlling 75 feer cent, of the lake ores, on which .the industry is based, is materially enhanced by extensive control of rail {transportation from the mines to the ikes. In his letter accompanying ie report Commissioner Smith says lat in capacity rather than in actual the corporat.ion is mater- ly stronger than the production j.g .-es and suggests that case of continued trade depression .at strength probably would' show juelf in increased control. ''This letter to the president, which a way is a review of the .report. ,ind is separate from the words there embodied, is an interesting nar- which -Hip fnllnu-ing jg a Comprehensive condensation. "I have the honor to submit here- tyith part 1 of a report on the steel Industry. This part deals with the fcrganization, investment, profits and (wsition in the industry of the Unit- ed States Steel corporation. Addition- ill parts will be submitted later deal- ing with costs and with prices, "The hasic industry of siecl making Effects the whole people of the Unit- Ed States. Its organization is a mat- ler of public concern (not merely of brivate and a great nation- resource, n-nri at the foundation of the business. "The dominant c-o.-aru is 'the United States Steel corporation. There (Continued On Page 2.) NOT OUR STYLE No Appropriations Possible Un- til Money Is Collected and Distributed. NEW QUESTION FOR COURT. Employes of Counties and Mu- nicipalities Must Wait For Their Pay D. C., July senate committee intvestiglating} the election of -Senator Lorimer will either adjourn today or Monday until July 13 in order to arrange for the presentation of further evidence. Wit- nesses today were called mainly for the purpose of corroborating the tes- timony of -Millionaire Hines of Chica- go. STAR-JOURNAL BUREAU. Dispatch Building. COLUMBUS, 0., July has been discovered that appropriations by city councils, county commissioners and township officers for salaries and oth- er running, expenses for the last half of the present year cannot be made at least until the first of September. Section 5649-3 D of the Smith one per cent tax bill provides that appro- priations for any purpose cannot be made until the money Is known to be the treasury and these moneys .are never distributed until the July or Hines underwent cross-examination for five hours before the committee as to his part in the election. When the committee adjourned the witness was told that his two-days' ordeal was ended. Both Senator Lorimer's friends and opponents expressed satisfaction with the result of the cross-examination. Attorney John H. Marble, who con- ducted it for the committee, an- nounced that he would follow out all leads which had been suggested to him, "always with a view of getting at the truth and not to persecute any- one." THE EFFECT HERE. City Auditor Loth said Satur- day afternoon that if the- Col urn- bus report is correct, Sandusky, like all other cities, will be af- fected. It was planned to put the appropriation ordinance through council at the second meeting in BEFOBE. AOTEIt. THE WEATHER Forecast: Continued fair tonight and Sunday, notymtich change in temperature. Temperature at 7 a. m., 74 de- grees. Temperature one year ago, 74 de- grees. Sun rises Sunday at and sets-.at p." m.; rises MonV day at a. m; and sets at p. "m. (standard Maximum wind velocity for 24 hours ending at noon today, 10 miles northeast at Friday Out Nearly Twenty-Four Hours, Twelve Men Are Far From Reaching Verdict And Are Likely Discharged Late In the Day Apparently To Be With Noise- less Holiday Prqhiises to Be a Good One BAN STRICTLY ENFORCED Empties Revolver ai dozen Bandits And Then Acts As Fireman BRIE; Pa., July today devel- oped that Walter Bassett, a Colum- bus, Ohio, student, was the hero of the holding up of the Philadelphia and Erie passenger train last night by twelve bandits who shot four people and escaped with Bassett had a revolver which he emptied at the bandits. Then learning that the fireman haci deserted, he climbed into the engine cab, shoveled coal until he got enough steam for the train to start and then acted as a fireman un- til the train reached this city. Wal- ter Nooney, and James Carroll, two iaMeged yeggs, were arrested today on suspicion of -being implicated in the holdup. A panic was created among the pas- sengers filling the six coaches. Wom- en screamed and when they tried to escape from the train the bandits fired at them and drove them back. Conductor D. H. Rooney emptied his revolver, and, after being painfully injured by a rock thrown by one of the crawled away through, the woods.-'to a farmhouse. C. H. Block, mail clerk, was shot down after emptying his two revolvers at the gang. Expressman Hart was shot as he attempted to cross from the bag- gage car to the engine. The robbers are believed the police to have been Italians who are known to hang around that lonely spot where the hold-up occurred. STAR-JOURNAL BUREAU, j the information required upon which Munsey Building, to base legislation for the' apportion- ment of representatives. There was WASHINGTON. July l.-Notonous- i no real and substantial reason why iy and to an extent never dreamed thjs legislation should not have been by the fathers who founded jhe government legislation apportion- passed; aid signed by the president before the last Christmas holidays. ing representatives among the states j Representative Crumpacker, who is being made the football of politics, i considered it a national disgrace for The treatment that has been accorded j congress te disobey the plain mandate Ihis legislation is without a parallel. of tne .constitution merely to enable There are many indications that, a this or that Cement to do some po- tabal has been perfected which will; jockeying, pushed the bill with lend the apportionment bill over to an of energy and resourcefulness the regular session, either by action of at command. He got it through the committee or. if it is reported out, th.-> house but it stuck In the senate Dy dilatory and obstructive tactics in conSnittee. Finally, at the very close Ihe senate. Of session of congress, In the consideration of this tegisla- thrown oat of committee into lion the plan demands of the public: senate where a coalition organized service have been subordinated as nev-; Fenator Root of New Yo.V was >r before to political expediency. Pres-: kil] lt The bill never idential is seen at many an-: fcached a vote in the senate and died Men- the gavel fell for the last time The constitution of me March 4. States says that representatives Vn'.en congress met in extra session )e apportioned among the tbe the reapportionment states on a basis of poplnation aiij; pr0blem again and on April 27 passed fl-ovides fo rthe taking of a dccenrf a a bill increasing the membership of The thirteenth al i the house from 391 to 433 and fixing ,-ensus was taken last year and -ly j 2n.877 as the unit of apportionment, b December last Director Dnrant of: On April 28 this bill went over to the fee census supplier] senate was twice and referred pmmpacker. .then-chairman of the iouse census committee, With ail ol (Continued on Page Seven.) July. "A section of the law has given city councils the right to" request an advance from the county treas- urer of two-thirds of the: a mount levied between June 20 and July said Auditor Loth. "If tfris is knocked 'out, or if we must wait until the final distribution is made, no money will be available for some time." semi-annual tax collection Is complet- ed. According to attorneys here every policeman, fireman, county and town- ship employe must wait for their sal- ary money- is distributed by the county auditor, which cannot be done until the semi-annual, tax col- lection is completed. "Where propmtibns it is held they are illegal and city auditors will be notified to withhold paying any vouchers from any fund and .for any purpose until after the question is settled by the su- preme court. They have adjourned for the summer but it is announced here this afternoon that they will be asked to give a special hearing to the qeustion and make a ruling. The dis- covery has caused a genuine sensation here in Columbus where the semi-an- submitted to council next Monday- ev- ening. ttflfii Mayor Says.AH Rrovisions of Be Observed Comply, For'the firstvtime 'in Sandusky is a safe arid'sane Fourth if, statements of city officials a.re any indication: Citizens generally are- the city authorities .Have prohibited the usual fire-works.J'as it will-avoid the- danger of -the recurrence of the de- Atwood Pulls Off a Most Sen- sational Flight From Bos- ton To Yale. NEW YORK, July most sensational flight ever witnessed in the United States was pulled off to- day when Aviator Atwood who yes- terday flew from Boston to the Yale-. Harvard regatta at New London, Conn., this morciag completed the flight ..to 'NffWYork 'City 'winding .up f by around the Sing- i er tower and. other, tall buildings of the skyscraper district. The flight makes one of the great- est cross-country events ever flown in America, Atwood taking In three states on the trip. Atwood later landed on the parade grounds at Gov- ernor's Island. In flying across Connecticut, At- wood raced with a fast express train and was able to circle over it three different times and still keep up with it although the train was traveling at its best speed. IT'S A BLACK MYSTERY, KENTO-N.-O., July was seen to enter the W. D. Me- Kean home -by Miss Alma Me- Kean, who was at a neighbor's home. There being no men in the vie- inity, all the women in the neigh- borbood were quietly-brought to- gether. Armed with clubs and kitchen utensils they started for the house which held the intrud- er. Hearing them coming'the man ran through the back yard, DUI-- sued by the women. He was chased across a number of fields before the women gave up. HOPKINS PLEADS GUILTY Embezzler Sentenced To Seren Tears lu The Federal Penitentiary. CLEVELAND, July W. Hopkins, former, teller of the First National bank who was charged with embezzling over pleaded guil- ty today to was sentenced to 7- years in thp federal penitentiary at Leavenwvth, Kan. FATE IN BALANCE plprable accidents of the jiast.' They also believe, that the step .'takeri-: is in accordance with, advanced sentiment all over the .country, v j The small

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Publication: Sandusky Star Journal

Location: Sandusky, Ohio

Issue Date: July 1, 1911

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