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Newspaper
Clinton Plaindealer
Location
Clinton, Indiana, United States of America
Date
Jan 10, 1908
Page
10
A sweep of reports notes four New York diamond houses collapse as weak holiday commerce drags down the market. The piece lists broader financial turmoil and ensuing price pressures affecting the jewelry trade and related firms.
The Georgetown Kentucky jury in the Caleb Powers case on complicity in Governor Goebel's murder was dismissed after a 10 to 2 split, with one holdout wavering toward acquittal. Four prior trials ended with life, life, and death verdicts or no verdict, prompting petitions for pardon.
Governor Tanty issued a proclamation placing Muncie and surrounding area under martial law after riots tied to a street car strike. General Powell and troops arrived to guard the city, with orders to shoot to kill strikebreakers. Property damage and injuries mount as officials seek a peaceful settlement.
Officials of the Southern Pacific report gains in motive power and freight cars with a TG percent rise in power and 70 percent in cars. Arkansas Supreme Court decisions limit state control yet keep acts subject to court review for reasonableness. A New York Central manslaughter case on February 16 at Woodlawn sparked questions about railroad liability. Interstate Commerce Commission rulings influence through ticketing and routing across rail lines. New York Central pursues rapid completion of planned improvements amid shifting industrial conditions.
In December a mine collapse at the Alpha mine near Fly Nevada burying five men. Supt Gallagher directs rescue efforts supplying food and water through a six inch pipe while the entombed men communicate and await a possible rescue after delays and fresh cave ins.
The revenue report notes only ten mills set up to produce denatured alcohol despite Treasury pamphlets guiding farmers. Distilleries may use any material, but current output is mainly corn based. Germany reportedly has about 70,000 farm distilleries producing industrial alcohol sold at about 27 cents a gallon, versus 30 cents in the United States.
The article details preparations for the 1910 census including a proposed 14 million dollar appropriation and a permanent office to improve economy and speed. It calls for 65 000 enumerators 3 500 clerks and 3330 supervisors with civil service exams to reduce patronage and emphasize experience and performance.
Indian Territory's Glenn pool near Pulsa has 1118 wells producing 67700 barrels daily and 25000000 barrels sent to market in sixteen months. Land value rose from 20 to 2500 per acre as three towns formed. Proved area totals 14000 acres with ongoing drilling expanding the pool. Drilling and lease costs run high but returns are rapid, with a good well paying off in five to ten days.
The holidays eased business activity but the new year shows clearer, encouraging signs. Clearance sales are steady with satisfactory demand for heavyweight apparel. Inventories and manufacturing repair efforts rise while some workers idle. January dividends rise and currency loosening aims to improve circulation. Chicago district failures total 28 with liabilities over 5000 at 1. Dun's Review notes soft mercantile collections but no sharp downturn.
New York reports unusually quiet post holiday conditions across general trade and industry yet shows continued improvement in the financial situation. Retail trade is stimulated in some cities by reduced sales while mild Northwest weather slows seasonal distribution and cotton holds affect Southern trade. Money is easier to obtain for business in large centers as dry goods and clothing remain subdued though more confident than a month earlier. Leather trade is quiet with small sole leather stocks, while hides are plentiful. Wholesalers hesitate to buy freely. a 7 percent reduction in 1907 shipments hints at lighter stock. Weekly business failures reach 345 for the week ending Jan 2, up from 248 last week. Canada reports 2 failures versus 50 last week and 16 a year ago.
Market notes list bid ranges for cattle hogs and sheep in Chicago Indianapolis St Louis Cincinnati Detroit Milwaukee Buffalo New York and Toledo. Prices cover wheat corn oats rye butter eggs potatoes hay and clover seed with cents per unit and per bushel.
Twelve men in Camden New Jersey were charged with stealing and carrying off a two story house. The report also notes Reading Railroad Company plans to pay shop bonds in cash while other employees receive checks. The Bishop of London plans a Russia tour and chaplaincy visits. A St Louis insane asylum tour for women with milder insanity showed beneficial results. Prof Oscar Lassar, dermatologist at Berlin University, died after injuries from a mobile accident.
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