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View Sample Pages : Greenville Evening Record, March 18, 1908

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Evening Record, The (Newspaper) - March 18, 1908, Greenville, Pennsylvania THE EVENING ESTABLISHED MARCH PANIC MM So Declares Senator LaFollette ol Wisconsin in Sensational Speech in Senate CAN TURN THE TRICK ANY TIME He Declares System Has Gained Such Control of Federal Finances and In That It Can Raise and Lower Prices at March speak ing for two and a half hours In the senate on the pending currency bill Senator La Pollette asked permission to suspend his remarks and conclude later as he was unable to continue Senator Aldrlch reported to the senate from the committee on finance amendments to the currency bill exempting railroad bonds from classes of bonds to be used to secure emergency Hmltnlg the re tirement of such currency and provid ing that such issues should be permit ted up to the par value of bonds used to secure Declaring that the recent financial stringency In the country was brought about by the Influence of Standard Oil and Plerpont Senator La Follette continued There were no commercial reasons for a There were legislative and political reasons why a panic might serve special There were business scores to There was legislation to be blocked and a currency measure suited to the system to be There was a third term to be disposes of and poli cies to be A panic 1 believe that It needs only to be followed step by step to show that It was planned and exe cuted In so far as such a proceeding Is subject to control after once In mo Such a without sup In facts warranting would de serve To withhold such a to shrink from plain speech setting forth the facts In so far as they can be uncovered In the dis cussion of wise a plain public Describes the He recounted his views of the events of when Wall street was In the throes of the currency For the first time sinca the panic arrived and every body on the floor of the stock ex change was wildly seeking money at any Interest rates which had for several days ranged from 20 to 50 per began to climb Set tlement must be made before 3 Money must be forthcoming or the close of the business day would see Wall street a mass of ruins and banks and trust companies on the brink of How perfect the stage setting How real it all seemed But back of the scenes Morgan and Stlllman were in They had made their representations at They knew when the next Installment ot aid would reach New They knew Just how much It would They awaited its arrival and There upon they pooled an equal amount and held Then they Interest rates Wall street was driven to a Two oclock came and In terest rates ran to 150 per The smashing of the market became ter Still they Union Pacific declined 10 Mi Northern Pa cific and other stocks went down In like Five minutes passed minutes past 2 Then at precisely the curtain went up with Morgain and Standard Oil In the center of the stage with twentyfive millions of jiving It away at 10 per Grand Coup by the And so ended the How beau tifully it all worked out They had the whole country They hnd the money of the deposits of the banks of every state In ho union to the amount of five hundred near ly all of which was In the vaults of the big bank It supplied his operators with money to squeeze out Investors and speculators at the very bottom of the taking Jn the stock at an enormous In this connection the operations of Morgan and Standard Oil furnish nddltional evidence of the character of this We have record proof of their utter contempt for commercial Inter not only for the country gener for legitimate trade In New York city as The Morgan and Standard Oil he pursued In that critical mo ment the course of the speculating They he to the needs of Wall quite dead to the appeals of Their course was that of men who were playing with the credit of the country for a La Follette reviewed the growth of Industrial reorganization from the year he saw the be ginning of that These reorganizations were at the outset limited to those turning out fln products similar In be This Is the Time ef Year Everybody Hoosier Kitchen Cabinets AnetherLarge Con signment Just THE QIBSOM FURNITURE THE M M M Wai Paper Cleaner Climax I Oc3 for 25c DYES Diamond Make your old Clothes Look Like New Now is the Time KAMERERS i Bessemer 2M Main M THAT APPEAL To every ebcervlng person whe vleWi our store the completeness et euf the taste In the styles the exeeHewt quality ef our The latest innovations In aU of Jewelry and Silverware are of the facts we wish eaH your rt tentien Call and see fer Dunlap Newest Spring Fabrics Now Arriving BRICBER Ovor VOBSWBS Barber Within a period of three years following 142 such organizations were In making these reorganiza tions the opportunity for a large paper capitalization offered too great a temp tation to be This was but the first stage In the creation of ficti tious The success of these or ganizations led quickly on to a con solidation of combined Industries until a mere handful of men controlled the Industrial production of the The Opportunity to associate the reor ganization of the Industrial Institu tions of the country with banking cap ital presented Such connec tions were a powerful aid to organiza and reorganization offered an un limited field for It was a tremendous He discussed the economic develop ment of the country and laid especial stress upon the growth ot financial bare names of the directors of two great bank groups Standard Oil and Morgan given in connection with their business ussociatlons is all the evidence that be offered of the absolute community of Interest be tween railroads and all tha great declared La Pol There are twentythree directors of the National City bank Standard there are thirtynine directors ot the National Bank of Commerce Mor Examination of these directors shows the two groups are being knit together in business suggesting their future Subject to differences which may arise between powerful individuals of these different resulting in oc casional they are practically n monopoly und ns far as the public Is concerned practically one The business partner of the head of the Morgan group is found on the di rectorate of the chief financial insti tution which heads the Standard Oil And one of the leading direct ors of the National City bank Stand ard Oil is a member of the board of directors of the urinciiml financial In stttiitlon In the Morgan TEe di rectors of the lending organization comprising the two principal groups are ttotind together in mutual Interest and shareholders In the various Indus trial concerns which have financed by one or the other of these groups In recent They Rule the Remember that these fiftytwo men who are directors of the two Impor tant bank groups are not additional to the list of less than one hundred whom I have referred to as control ling the Industrial life of the but a of Fourteen of the directors of the National City at the head of fourteen great combinations represent ing 8 per cent of the capitalization of all the Industrial trusts of the The railroad lines represented on the board of this one bank cover the country like a Chief among them are the the and the Union the the Missouri the Mil waukee and the Chicago and theRock the Denver and Rio the Mexican the Baltimore and the Northern the New York Cen the Texas and the Erie the New New Haven and Hart the Delaware and the Illinois the Manhattan Ele vated of NewYork city and the Raplc Transit lines of These same twentythree through their various connections represent more than 350 other trust companies railroads and Industrial corporations With an aggregate capitalization o more than twelve hundred Captains of Speaking of the great stores o money in New York In connection with various Industrial La Polletls continued With this enormous concentration of It Is possible to create ar tificially periods of prosperity and pe of Prices can be lowered or advanced at the will of the sys tem when the farmer must move his crops a scarcity of money may be created and the prices When the crop passes Into the control of the speculator artificial stringency may be relieved and prices advanced and the Illegitimate profit raked off the agri cultural industry may be pocketed in Wall If an effort Is made to make any one of these great Interests obey the TRISTATE NEWS IN BRIEF March a cut his ami tiled on a passenger train shortly alter leaving Corry en route to this He Imd In his March the charge of more than 200 men here the Pennsylvania railroad has nuuln in Ihej aggregate a reduction of almost f DITTCD in its force at this place nlone IALC Ut DIIICIl CONTINUOUS BUTTLE Lewis Emery Has Been His Experience With Standard Oil Company Alnrrh In an titnn tour boxing tournament following the regular performance at the BIJou the ater Willie age was killed while boxing with Charles Wolf of the same March The Pennsylvania Plate Glass company of Told by Independent Oil Man to Gov ernment Investigators at Railroads Always on Side of John Rockefellers March Plttsburg brought In a monster gas I hot water gnus were used In encounters it Is easy for them to enter into a conspiracy to destroy whoever may be responsible for the Chinese Faith in Many of the Chinese believe that when all other remedies fall and death Is at hand ginseng has the power to bring back health and longevity when they feel the need of It they will pay fabulous prices for cer tain kinds of A root to be really valuable at a commodity must come from the mountains of or be re puted to have contfe from Best of All The best gift is IOVR or friendship fittingly TIP gift which well on the Adalr near This welt exceeds In volume the big well on the McConnell farm March Wheeling city crematory on the sum mit of Wheeling hill has burned with a loss of With the approach ot warm weather and no means of con suming a serious situation is March Wil liam Bradford an authority on who has had charge of the laboratory at Bryn Mawr hospital at Bryn near died from blood poisoning contracted while per forming a postmortem March com memorate the founding ot the fort on the site of Plndlay In the early days ol the Representative Foster ol that city offered a Joint resolution to appropriate to buy the land on which it stood and erect a monument March dog poisoner has played havoc among some of the bestblooded stock In In the Sixth ward alone sixteen nearly all found Big rewards have been offered for the apprehension ol the March The house of Prank opposite the Pennsylvania railroad siding in Penn was demolished by a train backing a car oft the siding and across the street into the King was In the kitchen and ran Just as it Mount March vid Brown and his two Roy and while blasting stumps on their farm at five miles from were blown to pieces by the ac explosion of twentyflve pounds of Their bodies were torn to tween the Independents and the Stand urd Oil companys forces in the early days of the oil Industry for possession of rights of way for pipe lines were told of by Lewis of Brad who was on the witness stand all day for the prosecution In the ouster suit against the Standard Oil Emery said he entered the oil business In He recounted the days of the struggling refiners before the advent of the Standard Oil company in 1875 and declared that competition ceased at that Upon crossexamination of Attorney Rosenthol for the defense the testi mony ot Kmery was quite amusing at as the attorney and the wit ness had several spirited encounters at repartee brought out by the ad mission by the witness that he had been a lifelong opponent of the Stand ard Oil company and had In the last few years testified at great length upon several occasions against the big Emery related In detail his fight for the oil both in the United States and in In some he he won the contest mid In others met Lost in he was particularly in where he had a refin ery which he finally was forced to sac rifice to the Standard Oil in he he con ducted a retail but in this also met opposition he could not with although he spent a large sum of money anil sold oil as low as 2 cents a He also stated that one of his pipe lines near was made unprofitable owing to the Standard Oil company offering a premiuuii of 10 cents a barrel upon crude Emory dwelt at length upon the early formation days of the Standard Oil At that Kmery J CENTS FIR Kmrry related dlfllculUcs he nift with In InyiiK a pipe line for his refinery and He said ho was obstructed by the To he wen nddnd more than fifty law suits which he hart to The witness said that at the same time the Standard Oil company was laying many nitlos of pipe without the slightest ob much of which was laid aloni lite rights of way of It was at Emery whore IIR had a personal en counter with opposition While thla particular encounter resulted Is ft victory for Winerys he tes his company finally was com pelled to give up the effort to cross New Jersey to reach the seaboard and diverted their line to Philadelphia Emery said their business In Germany was cut off by the Standard Oil com pany through their German represent atives purchasing the business of distributing agent and that he was never again able to reestablish a largo and profitable business In the Students Wear Ann March the University of Michigan arrested In a riot at the Star theater are at but fifteen of them to furnish bail each after being led Into Justice Dotys court and baols to their cells hardened handcuffed and under a heavy police Three students pleaded fttllty on a charge of loitering and wtra IMA CONTRACTOR AND ESTIMATES M Columbia MM B B table linens Quality and factors by which this store appeals for its with TflWe Linen to replen ish take here to prove our 70 inch All Linen heavy Irish Cream Table 75c a Lot very heavy full bleached Irish Table Linen that will outwear any ordi nary inches a inch bleached Linen 24 inch full bleached Irish a Fouryard Pattern Table Cloths six patterns too many of this one length and ATa GEORGE HOWE CONSULTING ENGINEER Building quality Pattern Table 2 to 6 yards assort ment medium and finest to givers he is the happiest who bestows gifts which bring comfort and pleasure where it Is needed and which can fur nish him uo other reward than the knowledge that his gifts are well be Ostrich Farms for In view of the Importance of the com merce in ostrich Vice Consul Byington of Naples states that Italians are being urged to start os trich farms in southern Sicily and The successful results obtained lu California and at Nice are Old Saying The old saying Unit the good Philadelphia March Phila delphia and Reading Railway company expresses neither Is no Of all was found guilty in the United States court here of three infractions of the law which requires that freight cars be equipped with automatic A fine of for each offense was Im posed by Judge March a conference of city officials Mayor Rcyhurn announced that Immediate steps would be taken to borrow 000 under the loan bill authorized by councils a year ago to put under way municipal improvements which will give work to the citys March Representative Ross Holaday of Clin ton now In the consular serv ice at was in Colum bus en route to his home on a leave Rogers was connected with the firm of Charles Pratt Independent That firm later was taken over by the Standard Oil None of the refiners remained in In later several new independent refineries were built in various parts of the Some of these in turn were purchased by the Standard Oil com the railway pooling agreement went into effect and was the Waterloo of the independent oper The railways discriminated in favor of the We could not get as good rates as the Standard Oil We and can to refine oil just as cheaply as the Standard ways die young is easily of We bad but three cases said the Philosopher of It Is j of yellow fever last year in vwy yoiAis necea MATTRESS PERFECTION You will tpptccUte cood mttnw nwkiac li you will examine MtttnM nwttnw maMmr h potter mat tit NIGHTS rues The Webbing ProeeM in Forter the Uny Cotton Into MO SSoil UFEMd COMFOET Tonwwitto ButtnM upon which yoa because the sarily din OKI Clltl LetuiebawttMW We have also In stock choice lines of library and kitchen In good built for com fort and at prices you will be glad to An Inspection of this repre sentative is respect fully 140 MAIN i JOHNSON C H E ESE DAM PINEAPPLE ROYAL LUNCH ROQUBFORT 8HBFFOU WISCONSIN BRICK SWEITZER LJMBBRQBR AND FULL CRBAM DEAN LIME AND CEMENT In building is nd will be appreciated by We an serve you with the beat lime and ement and at prices as ow as really firstclass good can he The disease seems to be practically stamped March playing the part of a deputy United States marshal from caused the arrest of a number of rail way employes at Gallon and was sentenced to six years In the penitentiary by Judge After making his arrests and hand culling his Hesaer would rob March At a meeting of the stockholders of the Dollar Deposit bank here the resigna tion of James Shumaker as presi dent was Shumaker waa formerly superintendent of grounds and buildings at Harrisburg and waa found guilty in the capitol graft trials last He also resigned as a Shut Down and Sold We also had great difficulty in get Ing Finally we had to shut down our plant lu Philadelphia because we could not get All this time the Standard had plenty of We finally sold out to the Standard for and the plant was It coat us While 1 was in the Penn sylvania legislature bills for the estab lishment of pipe lines for the inde pendent producers were advocated by They were obstructed by the Pennsylvania company and adherents of the Standard Oil Several pipe Hues later were but most of them subsequently were ab sorbed by the United Pipe Line com DENIALS ALL AROUND Newspaper Men Lose Because ef Lllleyt March aUte ment of Representative Hobson of Alabama before the committee of the house investigating the charges by Representative Lllley of Connecti cut that he had been approached a representative of the Electric Boat who offered to use his Influ ence with the speaker to Hobson placed on the naval affairs committee It he stood right for sub was contradicted before that committee by Lawrence the former naval officer Hobson said had spoken to Spear said he had not made any promises to secure the Influence ot Speaker Can non or anyone else and that he newer tried to influence them In he did not know the The other two witnesses of the day were Brly and Frank two of the newspaper men whom Lllley charged he had been against as In the pay of the BlecWp Boat They both denied they were ever In the pay of the com althoughthey said thw done some special work for Me one of the attorneys for the com in the way of getting out feature stories on lie which they had been Both wit nesses testified that they had lost their positions as the result ot Lllleys Lord character ized the repudiation by Lllley of an interview he claimed to have with him as absolutely and deliberately Graft Trials March trial of the conspiracy case against Architect Congressman Mathues James state oflU has been postponed until May Hustons counsel asked this action because the state had refused to agree to give Huston a separate The prosecutlou would have agreed to ft severance on condition that Huston tell all he knew of the alleged capitol but inslaUd that he could not enter sjich an agreement because he was innocent wrong old We carry a stock that la varied nd complete of carefully selected and you will get what yeu when you want and as you want Your Trade will be GREENVILLE COAL AND ICE Both Greenville Sand and Supply Company Our It seems bard to be not easy even to be to the timers upon which our lot is Yet much that we now look upon as prosate and per haps decry aa if read as his tory would enchain our It spoken as prophecy would sUr wy Green I March An excit Successors to GREENVILLE COAL COMPANY Harrison street and Brie fall Bell 201 Witch Hael and Pittsburg Lump Coal Delivered to all parts ot the 0 a1 the following prices Single Five tons or Furnace gl Furnace fl Call up and le tons or Ing man hunt occurred when Joseph a driver at the Independent became suddenly and vio lently He attempted to bang one of the children and when his wife interfered attacked her He was arrested by Officer but es caped and ran several milea before he was March It has been definitely decided that the Demo cratic convention will bo held in this city on May 5 and the dates orig inally set by the state Thia was brought about through the secur ing of the old armory on Goodale under whose venerable roof see state conventions have been held nearly a quarter of a March Ram sey of Marion and Edward Delaney of captured at Caledonia after a daring attempt at were held to the grand Their arrest was due to a said to be Ram seys Jilted who by tele phone notified the officials of the Cal edonia Deposit bank and the proprie tors of the Ides Lyman ot the plans the Dime at their i Thursday March Everybody invited to come and have a good mi45d Advance healthful comes the gredient The only baking powde ;