Shaw's report on stock shrinkage outpacing civil war costs
The secretary of the treasury states that the decline in market value of stocks over the past year exceeds the total cost of four years of devastating Civil War.
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Newspaper
Muscatine Journal
Location
Muscatine, Iowa, United States of America
Date
Dec 08, 1903
Page
1
The secretary of the treasury states that the decline in market value of stocks over the past year exceeds the total cost of four years of devastating Civil War.
Secretary Shaw reports on the cost of four years of war versus stock declines and calls for a more elastic currency without radical reforms. He notes strong banking, warns nonelastic money, and outlines needs for silver coinage, national bank circulation, and treasury gold parity amid rising cash and gold holdings.
Russian forces drive off a group described as Chinese robbers on the Liau river in Manchuria. They report 200 killed and 200 wounded among the attackers, while five Russians died and nine were badly wounded in the clash.
Rev Henry Clay Trumbull editor of the Sunday School Times died at his Philadelphia home today from apoplexy. He was seventy three years old and was renowned worldwide as an author.
In Washington the Senate debated a resolution for a post office fraud probe. Senators Gorman Lodge Nelson Tillman Hoar and Cullom urged full facts and thorough investigation while opposing premature public disclosures. The House approved a resolution to obtain all papers from the Post Office Department.
Albany reports the baking powder magnate William Ziegler claims three personal enemies fueled the Missouri indictment. He alleges Udell and Baldwin manipulated the papers to trap him, while denying honest extradition aims. Governor Odell heard Ziegler’s defense as Missouri Attorney General Crow angrily repudiated the remarks.
Iowa City report says thirty five sophomores and freshmen from both classes harassed victims by ducking them in a horse trough painting with iodine and cutting their hair. Expulsions may follow according to officials.
Fire destroyed the home of John Franklin two miles southeast of Fairport yesterday afternoon between 3 and 4 o clock. The two story structure built about ten years ago with a small addition, suffered an estimated loss of 1500 dollars with little insurance. Mrs Michael Missel, a neighbor, first spotted the blaze and efforts to save furnishings failed. only about ten dollars worth were saved. The occupants were away at the time and flames were beyond control when discovered.
Berlin report states Chancellor Von Buelow offers AP as authority to declare the emperor’s recovery progressing naturally and uninterruptedly with excellent condition and strong well being. Bulletin cadence deemed unnecessary as physicians’ attendance fades and concern is deemed unwarranted.
Illinois dealers convene in Bloomington for the annual convention of the Illinois retail implement dealers association with about two hundred delegates. The event opens today and will adjourn Wednesday. President Joseph Baker of El Paso gave the annual address with speakers A. O. Bement of Lansing Michigan and J. B. Chambers of Danville Illinois among them.
In Dubuque Iowa Special report says Father Roche of Cascade was attacked by Charles Montjeas a madman while celebrating vespers. The priest was cut in the neck with a knife but expected to recover. Montjeas was arrested and his mental condition to be inquired into.
In New York at Madison Square Garden the 14 teams rode at 10 o clock with the top ten on 652 miles two laps thirty eight miles under the existing record.
Freehold J. H. reports a fire at Clarksburg near Freehold burned Clayton Fowler aged forty two and his wife and three children to death. The tragedy occurred today destroying their home.
In Cherokee county district court Allen Brown a Black man convicted of criminal assault was sentenced to 1000 years in the penitentiary. The law prevented a death sentence.
In Grand Rapids on December 8 a batch of warrants for water scandal charges were not served. Gerrit H. Albers surrendered, charged with perjury related to an attempt to bribe Alderman Renihan. Chas S. Burch, manager of the Evening Press, waived examination and was bound over to the superior court for trial.
Wheat prices for No 2 red No 3 red and No 2 hard show declines and gains across contracts with Dec May figures. Corn oats rye barley flax and timothy values listed with daily highs lows closes and cash quotes reflecting a broad market snapshot.
Cattle receipts 5,000 steady with good to prime 5.15 to 6.00. stockers 2.00 to 4.25. cows 1.50 to 4.00. Texans 3.00 to 3.75. Hogs receipts 32,000 steady to lower. mixed and butchers 4.30 to 4.60. heavy 4.45 to 4.60. light 4.20 to 4.45. bulk 4.40 to 4.50. Sheep receipts 18,000 steady. ewes and lambs 3.00 to 4.25 and 3.50 to 5.65 respectively.
Butter prices held steady with creameries offering 16 to 25 cents and dairies 16 to 21 cents per pound. Eggs also steady at 23 to 25 cents per dozen. Market conditions unchanged from the prior session in Chicago.
Chicago market reports firmer poultry prices with turkeys at 12 cents, chickens and springs at 9 cents. The brief note indicates steady demand on December 8.
New York market notes show wheat for May at 85 cents a bushel and corn at 48 14 cents per bushel. The brief price report lists these new quotation levels from the day.
Rabbi Epstein of Duluth Minnesota addresses the congregation of the Church of Moses on principles of the Jewish religion. His lecture defends the old Mosaic faith as his message resonates with listeners.
London reports that Herbert Spencer the renowned author died at his Brighton home today after months of ill health. He was born in 1820 and reached prominence in literary circles.
Davenport reports the death of Henry Lischer founder and publisher of Der Demokrat. A pioneer German journalist in the northwest, he served in the Mexican and Civil Wars and was seventy five years old.
New York market reports show alive poultry quoting chickens at 10 to 11?4 cents per pound, fowls 10 11%4c, turkeys 12c. Dressed meat is weak with chickens 11% to 12c, fowls 11 to 11%4c, and turkeys 14 to 17c per pound.
A holy day of obligation was observed at St Mathias church with a 6:30 a m first mass and 9:30 a m high mass. Father F J Leonard delivered a sermon and evening devotions were set for 7:30 p m. This Immaculate Conception feast is a major Catholic observance.
Richard Kirk a wealthy merchant and pioneer of Vinton Iowa collapsed and died yesterday. He was well known in the city and had resided there for many years.
Marion Iowa December reports a sixteen year old, John Snyder, died from injuries suffered in a football game three weeks earlier, marking a fatal outcome from the contest.
About seventy five guests including wives daughters and sisters attended a surprise social at the Muscatine lodge room of the Benevolent Protective Order of Elks during the regular session. Fifty Elks were present and allowed the women inside for refreshments after an evening of music and games. A committee led by Mrs R W George Mrs Amos Schott Mrs C C Smith Mrs Geo Kranz and Mrs Vanatta organized the event.
New York market shows butter firm with extra creamery at 25c and common to choice 16 25c, imitation 15 18c. Eggs steady with extras 31c firsts 31c, seconds 28 29c, refrigerated 21 26c.
St Louis market notes show Dec and May grain bids with cash figures for Wheat 83 and 83 percent, Corn 40 plus 14 percent, and Oats quoted near 35 to 44 cents. Local market conditions and commodity prices are summarized for the period.
Peoria market note from December 8 reports corn prices easing with No 3 grade at 42 cents.
Rabbi H Epstein of Duluth Minnesota addressed gatherings at the Congregation of Moses urging parents to raise children in the Mosaic faith. He warned of assimilation risks and stressed teaching the faith and its commandments to preserve the Jewish nation for future generations.
Meetings were well attended as Rabbi Epstein, guest of Rabbi Joseph Bleeden on East Seventh Street, prepared to travel to Ottumwa this morning for an evening address.
Turkish police clash with guards outside the U S consulate as protests erupt in Ankara. Authorities disperse crowds with baton charges and water cannon amid rising tensions over diplomatic frictions.
The United States consulate at Alexandretta, Asiatic Turkey, faces a serious incident after Consul Davis was insulted and assaulted by local police while escorting Armenian native American Channel Attarian to departure. Attarian was re-arrested, the flag was lowered, and relations with Turkish authorities broken as a Muslim mob demonstrated against Christians.
In Dressau Germany Frau Fischer a lion tamer was torn to pieces by four lions in a managerie cage during a crowded show. Her children watched from a box as the tragedy unfolded.
Washington Dec 8 The United States Supreme Court has denied for the present a motion to dismiss the Minnesota versus Northern Securities Company merger case and postponed further consideration until the merits are heard.
Edwin A Potter was today elected trustee of the estate of James S Watson former president of Porter Bros company Watson’s debts are about 1 850 000 and his assets 50 000.
Frankfort Kentucky December 8 1900 In the presence of 10900 people and with elaborate ceremonies Governor J C W Beckham was inaugurated for the second time marking his third oath of office.
Iowa forecast predicts light snow flurries tonight with colder winds in the southwest. Wednesday will be partly cloudy across the state with cooler temperatures.
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