29 Feb 1912
Page 1
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Newspaper
Cheyenne State Leader
Location
Cheyenne, Wyoming, United States of America
Date
Feb 29, 1912
Page
1
The steel trust reports profits exceeding one billion in nine years with total business earnings around 753 million over ten years. J P Morgan and Co are accused of receiving seventy million for organizing the trust.
The article reports that J. P. Morgan & Co received 70 million dollars in cash profits from organizing the steel combination. It notes first nine year net profits of about 1.029 billion and dividends totaling 753 million. It states estimates place the trust controlling 60 to 80 percent of U.S. steel, with total joint properties valued around 1.447 billion and ore holdings of roughly 2.5 billion tons out of 4.463 billion available.
The McRae report concludes that the United States Steel Corpora tion restrains trade and fixes prices through Gary Dinners control of raw materials and interlocking directorships. It cites $69.3 million cash profit to J P Morgan & Co and nine year net earnings of $1.03 billion, with about 80 percent of steel holdings under corporate control.
New York report details ten men involved in a daylight January 16 robbery. Gene Montani as driver conceived the plan. Police say seven men shared $21,000 while others received smaller sums. Four local prisoners held on $15,000 bail each ahead of Thursday hearing.
George Lebrasky an American was arrested with tourists in San Diego and faces a Mexican military court in Tijuana on charges of being a spy and former rebel if found guilty he faces the death penalty. Washington officials consider a Mexican ambassador request on arms shipments to Mexico amid the Madero uprising. The Chihuahua area remains unsettled with rebels robbing nearby.
Washington reports Senator sharply condemns Lawrence textile mills for squalid labor with wages about 6.67 dollars weekly and fifty four people living in one tenement. He urges tariff reduction and habeas corpus actions to free jailed strikers and protect freedom of travel to escape oppressive conditions. A federal inquiry is sent to Lawrence, Massachusetts.
Peking reports that Nanking and Peking governments will receive a loan from international bankers representing the United States Great Britain France and Germany to pay Chinese troops. If troops are not paid officials fear growing anarchy.
Washington February 28 A war department plan moves Fort Oglethorpe to a brigade cavalry post by a 17 to 0 house vote The change joins Fort Oglethorpe as a regimental post and concentrates troops in fewer garrisons Representative Helter of Kentucky notes the nation has no army at present and questions the current geographical division system.
Mexico City, Feb 28. The Madero cabinet debated Juarez rebels, deciding not to immediate dislodge them. Focus will shift to Torreon and Chihuahua cleanup with vigorous operations. Three Americans reportedly killed by rebels is unverified. Vasquistas set March 5 for Mexico City attack but viewed unreliable.
A brief outline of the general situation in Mexico and a statement from President Madero will be printed in the Times tomorrow. Madero declares he has no intention of resigning the presidency.
In Los Angeles on Feb 28 expert attorneys agreed to a continuance of the Clarence Darrow jury bribery case. The case will remain at a standstill until Saturday as announced in open court.
Deputy Sheriff Chas Wright brought Clyde Connor and Robert Chapman to Cheyenne after arresting them in Guernsey for entering a lodging house and stealing a watch and $20. The robbery occurred Tuesday night as the victim slept. a fellow lodger observed the suspects when a match was struck. The pair were bound over to district court after a preliminary hearing in Guernsey.
Washington Feb 25 Joseph Zimmerman general traffic manager of the Adams Express company says express rates are fixed arbitrarily with little regard to first class rail freight rates during an Interstate Commerce commission investigation.
Washington February 28 Dr Harvey W Wiley renowned pure food champion says he is seriously considering resigning as chief chemistry of the bureau He admits in an interview he has not decided to offer his resignation but believes harmony is impossible while there are dangerous elements in the department
Three trainmen were injured and many passengers shaken when Southern passenger No. 7 from New York to New Orleans derailed near Milstead north of Montgomery Alabama. The engine plunged down an embankment tearing telegraph and telephone wires, cutting communication.
Washington reports Taft will tour the nation before the June Republican convention delivering many speeches. He plans westward to Chicago north to New Hampshire and south to Georgia with other engagements to follow. The effort aims to recall judges and judicial decisions and touch Roosevelt themes while avoiding direct personal attacks.
In Denver the Twelfth ward Republicans united to back presidential preference primaries in every city precinct and called a mass meeting for Saturday night to push a plan. They urged state and city officials to provide a method for Republicans to vote their choice between Roosevelt and Taft, aiming to curb party domination.
Chicago February 28. After a two year government probe officials of the Yellowstone Land Company are arrested. H A Mason secretary treasurer and A Hanley director indicted for using the mails to defraud relating to Western land sales. Indictments cite land in Madison County Montana sold and fifteen thousand dollars received though title was never held.
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