The Weekly Times-Journal. (Oklahoma City, Okla.), Vol. 17, No. 21, Ed. 1 Friday, September 7, 1906 Page: 1 of 8
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ONLY PAPER
x
VOLUME XVIII
OKLAHOMA OR THE INDIAN TERRITORY RECEIVING THE FULL ASSOCIATED PRESS
OKLAHOMA CITY. OKLA., THURSDAY. SEPTEMBER 7. 1906
LEASED WIRE DAY REPORT
REPUBLICAN RECORD
IN TRUST REGULATION
Excerpts from Speech of Secretary Taft Delivered at Balh Maine
Wednesday Evening.
ENFORCEMENT OF LAW BY PRESIDENT
Has Caused Great Changes in Trust Methods.
Legislation and Enforcement of Law.
History of
The following are a few excerpts
from the speech of .Secretary of War
Taft, delivered at Bath, Maine, last
evening:
In the discussion of this subject. It
is well for us to begin with the pre-
mise that wealth used as capital for
the production of commodities and
conveniences essential to the life and
comfort of the people is one of the
chief means by which a people can
be uplifted in their pursuit of happi-
ness it would be eu y in listening to
the diatribes of a certain class of ora-
tors to gather the impression that all
wealth and all capital and all corpora-
tions are to be condemned, whereas,
when we look at the matter straight
in the face we know that the prosper-
ity of this country and the comfort
that has been produced are largely
to be attributed to the assembling of
the savings of the many into corpor-
ate capital, so that It may be used to
establish and carry out the large en-
terprises for production, manufacture
and transportation, without which the
prosperity which the country is now
enjoying would not have been attain-
ed. We must keep constantly in mind
that any step taken, huving effect gen-
erally to discourage corporate enter-
prises and the savings of earnings for
the purpose of establishing and oper-
ating them, would fall with greater
weight of suffering upon the poor, the
wage earner, the small dealer, -and
the salaried man. than upon the owner
of capital and thp manager of corpo-
rate enterprises.
The enormous increase in the bus-
iness of this country and the wealth-
earning capacity is shovTn by the sta-
tistics recently Issued by the Census
Bureau of the capital Invested, the
products made, and the wages paid
in the manufacturing industries of the
United States, the five years from 1900
to 1U05 inclusive. The capital invest-
ed Increased from nine billions of
dollars, more than forty per cent., to
nearly thirteen billions of dollars. The
value of the products increased from
eleven billion five hundred million to
fifteen billion dollars, or a gain of
thirty per cent. With respect to the
wage earner, while there were 16 per
cent, more men employed In l!)0r>
than In 1900 the amount paid In wages
was 30 per cent, greater In 1905. This
shows that while the capitalists In the
manufacturing industries were receiv-
ing a less proportionate profit, the
wage earners were receiving a greater
proportion of wages. Never before In
the history of the world has there
been such prosperity shown as In this
country; and certainly he would he
an arch-conspirator against the happi-
ness of all the people who would de-
liberately or negligently do anything
to destroy It.
The men. therefore, who are to be
trusted and should be charged with
the duty of curbing corporate and
capitalistic abuses, are those who ful-
ly appreciate and value fairly and
wisely the uses of aggregate wealth
as capital, and recognize It as Indis-
pensable to the prosperity of the com-
munity and the pursuit of happiness
by the people, and yet who at the
same time fully recognize the evils
of the abuses which have arisen by its
misuse, and the necessity for their
correction.
For the sake of clearness In examin-
ing into the character of the evils and
abuses which need restraint and pun-
ishment. we may divide corporations
guilty of them into industrial corpora-
tions, organized for the purpose of
manufacture and sale of merchandise,
and into railroad and other corpora-
tions, organized for the transportation
of passengers and goods. Let us deal
first with industrial corporations. The
valuable consideration moving to th
public for conferring the privilege and
franchise necessary In the incorpora-
tion of capital in such corporations
Is the public^beneflt to be derived In
the lowering of prices The tempta-
tion to the managers, however, when
the enterprises become very large Is
to suppress competition and main-
tain prices and thus to deny to the
public its proper share In the benefit
sought to be attained, and to appro-
priate to the corporate owners all the
profit derived from improved facili-
ties of production. One method of
suppressing competition Is by agree-
ments between all the large concerns
engaged in the same business to limit
the output and maintain prices. Such
agreements nre usually secret, and are
difficult for public officials to obtain
proof of; but when these agreements
do become public and are successfully
prosecuted, this method Is abandoned,
and the Independent corporat|o%s
that acted together under secret
agreements to maintain prices are ab-
sorbed into one great corporation, so
that the large proportion of the pro-
ducing capital In a single Industry In
placed under one control. Then com-
petition With the trust thus formed It
exi-lud. d by Ingenious contracts'of sale
with middlemen, distributors and re-
tall dealers, who are coerced by the
agents of the trust Into a maintenance
of retail prices and a withdrawal of all
patronage from smaller Independent
and competing producers through the
knowledge and fear that the trust In
times of active demand for Its prod-
ucts will either refuse to sell or will
sell only at discriminating prices to
those who do not comply with its con-
ditions of sale. The evil result of such
combinations and the injury which
has flowed from them have given
great importance to the principle of
law that acts done with the intent and
result of injuring another may become
unlawful and actionable when done by
many persons or by the use of many
different instrumentalities combined
for the purpose, although the same
acts with the same Intent when done
or attempted to be done by one person
singly would not be unlawful, because
neither oppressive nor dangerous in
result. This is the basis for all anti-
trust legislation.
The growth of corporate enterprises
to such a size as to absorb particu-
lar industries attracted attention be-
tween 1880 and 1890, and a Demo-
cratic House of Representatives, in
the last half of Mr. Cleveland's admin-
istration, directed a committee to
make an Investigation into the subject
of trusts and monopolies In this coun-
try. A great deal of evidence was
taken, but the committee failed to
agree upon any remedy by which the
recognized evils should be suppressed,
and simply referred the matter to the
next Congress, then known to be Re-
publican. That Republican Congress
of 18 90. In the so-called "Sherman
Anti-Trust Act," declared all agree-
ments or combinations in restraint of
interstate trade or commerce to be
illegal, and an offense, and subject to
fine and Imprisonment, and tht
edy to suppress them by bill and in-
junction In equity was specifically con-
ferred.
After the act was passed In Mr.
Harrison's administration, actions
were promptly begun under It. The
rest of these reached the Sunreme
Court in Mr. Cleveland's second term,
during the incumbency of Mr. Olney
as Attorney-!Jeneral, and was decid-
ed against the government. It was
the case of the United States against
the E. C. Knight Company, and In-
volved the question whether the pro-
ceeding by which the control of the
stock of a number of sugar refining
companies was purchased by one com-
pany so as to unite under one manage-
ment ninety-five per cent In point of
product of all the sugar refining en-
terprises of this country, was not a
violation of the Sherman Act. It was
held that the agreement denounced
in the Anti-Trust Act must be, in or-
der that the act should he constitu-
tional ,an agreement directly affecting
interstate trade, and that the union
of manufacturing plants, merely be-
cause a part of the products of the
union were Intended to become part
of the interstate trade, was not within
the Inhibition of the act or the power
of Congress to control. This. It was
then thought by Mr. Olney, ho nar-
rowed the scope of the act as to remit
all effective regulation and control t^
the state governments ami prevented
any hope of useful national action.
However, under Judge Harmon, who
succeeded Mr. Olney as Attorney-Gen-
eral. two decisions were secured In the
Supreme Court which applied the An-
ti-Trust Act to agreements between
railroads In restraint of competition
between them. It was contended in
these cases that railroads were not In-
cluded In the operation of the Anti-
Trust Aet. but the Supreme Court held
otherwise when they were Interstate
railroads. Another decision was ob-
tained in the lower courts during Mr.
Cleveland's administration In the Ad-
dyston Pipe case, in which contracts
or agreements between firms in differ-
ent states seeking to control a large
part of the business done In cast-
iron pipe within a number of states
were held to be In violation of the act.
This was subsequently affirmed in the
Supreme Court. In Mr. McKlnley's
administration, while of course the at-
tention and energy of the nubile and
the government were necessarily and
largely absorbed In the Spanish war
and the responsibilities which followed
it. the work of securing a practical
Ju\'clal construction of the Trust Act
proceeded.
Mr. Roosevelt, as president, from
the very first, devoted his great ener-
gies to facilitating and pressing on
the work of suppressing the trust evil
and the abuses of organized capital
Early In his first administration a en-.'
arose, the decision of which was the
most Important step taken In the d-
velopment of prosecutions under he
Trust Act. That case was known
the Northern Securities case It ,,,.
sented the question whether the
"•s of the Great Northern road md
the Northern Pacific road might un .-
the two properties to prevent the com-
petition between them, by organizing
(Continued on page 4.) |
WICHITA FIRM
FILES CHARGES
The Johnson, Larimer Dry Goods
Firm File Charges of Discrim-
ination Before Interstate
Commission.
Washington, Sept. 6.—Three peti-
tions today were filed with the Inter-
state Commerce commission by the
Johnston-Larimer Dry Goods com-
pany of Wichita. Kan., against the
Mallory line of steamers sailing out
of New York; the Atchison. Topeka
& Santa Fe railway, the Wabash and
about forty other lines, alleging un-
just, unreasonable and discriminatory
rates on cotton fabrics and knit goods
shipped to Wichita, as against the
rates accorded various shipping cen-
ters in the west.
They asked the commission to make
a ruling compelling the defendants to
desist from their alleged unlawful
practices and to accord such t/irther
relief to which they may bo entitled.
Washington. Sept. 6.—The Inter-
state Commerce commission today
made public an order calling upon the
railroads of the country for Informa-
tion In regard to block slgnalling'prac-
tlce and electrical signalling appli-
ances. The information Is asked In
order that the commission might
comply with a joUit resolution passed
at the last session of congress.
In the opinion of the commission
the subject is one of the most impor-
tant of the several matters which
were referred to it by congress, as it
lias to do directly with the safety of
life and property in railroad travel.
The questions asked the railroads
are framed on the principles ap-
proved by the American Railway as-
sociation and contemplate not only
full statistics as to the practice of
all the large railroads and the present
state of the art generally, but also the
salient facts as to the merits of the
block signal, or space-interval, prin-
ciple for the running of railroad
trains and information as to what
progress is being made In the Intro-
duction of improvements.
SAYS REFORMS
MUST NOT STOP
NUMBER 21
Premier Stolypin Takes Firm
Position. Neither Terrorists
nor Camarilla Shall Stop
Reform Measures
AT SEAGIRT
Seagirt. N. J.. Sept. 6.—The first
accident at the military shooting tour-
nament occurred today when George
H. Doyle, aged 17. son of Sergeant t
Doyle of New York, was shot through |
the arm with a revolver bullet while I
on th" br tch in the rear of the buttes
of the pistol range. The wound was
not serious.
Skirmishing in the national team
match was taken up today.
The army rifle teams, showing the I
result of their special training in skir-
mishing. have all forged to the fore In
the national team match. Although,
skirmishing was in progress at a late
hour l ist night, the standing of the
leaders had been figured out today.
The six leaders, at the end of the next
to the final stage of the match Include
all the service teams.
New Vork. thrice winner, has been
pressed back from four to third place
and the positions of many of the oth-
ers teams changed very materially.
The standing of the leading teams
at the end of the next to the final
stage follows:
United States Infantry. 2.842: United
States cavalry, 2.828; New Vork
802; Massachusetts. 2.79:?; United
States marine corps. 2,789; United
States navy. 2,753; Ohio. :'.701: New
Jersey, 2.666; Wisconsin. 2,668; Wash-
ington. 2.6,r 1: Minnesota. 2,651; Penn-
sylvania. 2.601.
St. Petersburg, Sept. 6.—The firm
note struck by Premier Stolypin In
the official communication embodying
the whole government program pub-
lished last night, with Itfc warning to
terrorists and revolutionists on one
hand, that the crimes must and will
be suppressed at any cost, and to the
reactionists, especially the court cam-
arilla, on the other hand, that re-
forms can neither be abandoned nor
deferred, met with a prompt response
on the Bourse today, where prices
were not merely firm, but were very
strong without any symptoms of ar-
tificial support. Th premier's not •
not only stopped the steady decline in
government securities, but It started a
boom in bank shares and In industrial
securities generally, some* of them
gaining as much as 6 points owing to
the belief that the announcement
made by M. Stolypin Is a prelude to
better times.
The official note appeared today in
the official gazette and the semi-of-
ficial press, but the attitude of the
public has not yet developed, though
the note is the all absorbing topic of
discussion. While the course of the
premier Is pre-eondemned by the
parties in pronounced opposition to
the government, In whose sight all
works of the ministry are evil, busi-
ness and financial circles, as Indicated
by the tone on the Bourse, regard
M. Stolypin's communication with
approval, and their attitude will prob-
ably be shared by the QCtoberists. the
peaceful .regenerationlsts and other
partisans of the policy of peacefully
working out the problems before the
country. Rut the imperial decree au-
thorizing the institution of field court*
martials throughout the larger part
of the empire is regarded with dis-
quietude in most circles. It Is prac-
tically the same measure that the em-
peror rejected during Count Wltte s
administration after tyie approval of
the council of the ire had been
secured and uliil.-fiV realized that
it it a Justifiable nathi i indeed ,
necessary measure sf dealing with
mutinies, armed u> cf nv* and condi-
tions of terrorism and anarchy, such
as prevail in Poland, the Baltic prov-
inces and the Caucasus. It is claimed
that arbitrary and unscrupulous of-
ficials are likely to abuse the powers
conferred upon them. It Is pointed
out thut the ukase excludes the ser-
vice® of the ordinary . uoiclal off'e^M
of the army and navy and that It
covers political crimes of any nature.
It Is lias already thrown a panic into
the ranks of the contributors of the
revolutionary press and drafters of
incendiary proclamations to the army,
navy, peasants. et\, who hitherto have
had no worse punishment to fear than
Imprisonment or deportation.
PEACE I SIGHT
STRIKERS RESOME
THEIR WORK
San Francisco Street Car Strike
Declared Olf and Cars
Run Again
DIRECTORS ACCEPTED
FEES FROM SEGAL
San Francisco, Sept. 6.—The strike
of the street car men on the United
Railroads, and incidentally that
°' the linemen, electricians,
firemen and construction work-
rs. came to an end last
night when the strike committee of
these unions officially declared the
strike off. The car men Immediately
reported for duty at the various car
barns and soon cars began leaving the
barns. As the first cars proceeded on
tin- various lines through the city they
were greeted with tumultuous cheer-
ing by thousands of people who lined
the streets.
STATEMENTS
Washington, Sept. 6 The comp-
troller of the curency today issued a
call for a statement of the condition
of the national banks at the close of
business Tuesday, September 4.
MAYOR ROSE WILLING
TO RESIGN
Sept.
Declared that Two Directors Received $750,000
Passing Securities Tendered by tlie Promoter.
in Fees for
HIPPLE WAS UN EXPERT LOOTER
mauds
Mr.
Hose agre<
Vernon R<
resign. Vei
In Denver.
ity, Kas , Sept. 6 After
■ here today Mayor W. W.
J to resign his office If
e, chief of police, would
ion Rose, who has been
is expected to arrive* In
Kansas City late today when final ac-
tion is expected. Attorney (Jeneral
Coleman has ofTei**d to drop the ouster
proceedings against the two officials
If they would resign.
BRITISHERS
TO ENTERTAIN
Gibraltar, Sept. 6. Rear Admiral
Prince I^ouls of Hattenburg, comman-
der of the British second squadron. Is
preparing to entertain on his flagship,
the armored cruiser Drake. Hear Ad-
miral Brownson and the officers of
the United States second cruiser
squadron bound for the Far Hast and
expected here September 12. The
squadron consists of the West Vir-
gin!... Coloiado, Pennsylvania and
Maryland.
Prlncc Louis has a lively recollec-
tion of the hospitality shown to the
officers and men of his squadron
while on tfielr visit to the United
States last year, and he is anxious to
do nil he can to reciprocate the cour-
tesies of the American navy and peo-
ple of the United States.
FISH SCALDED
ept. 6.—G<
on the sit
ked that
TO DEATH
Stole Same Stock or Bonds Many Times,
as Well. More Arrests Threatened.
Philadelphia, Sept. 6—Rumors of
arrests of directors of the looted Real
llstate Trust company fill the air to-
day. District Attorney Bell declares
in most emphatic terms that no man
will be spiffed In the effort to bilng
to Justice those responsible for the
dissipation of the depositors' money.
The statement Is made that two direc-
tors. who were also members of the
profited to the extent of
1750,000 in the past three years by
ptingr fees from Adolph Segal for
passing- on security tendered by him
for loans from the bank aggregating
$5,300,000. So far as Is known war-
rants have not yet bee Issued for these
men. but the public Is awaiting with
breathless interest sensational arrests
of directors who stood high In the j
community before the crash and ex- J
posure came.
President Hippie's plaintive cry from I
the grave. "Segal Kot all. ' has |
aroused the depositors to a high
pitch of Indignation. Lawyers repr.
seating many hundreds of them, are
taking an active part in the Investiga-
tion of the affairs of the trust com-
pany-, and the facts nre coming to
light almost hourly revealing new
>n the part of the
with the depositors'
trust funds of largo
'tales. Investigation
looting of the trust
>st the Presby terians
less than $100,000, and the leaders of
that t\lth are conv,ratu4*ting them-
selves that President Hippie chose an
opportune It me for committing sui-
cide, as far as the church Is con-
cerned. the funds and deposits being
low al this time of the year.
Receiver Karle expresses the opin-
ion that president Hippie was "money
mad." and thut there seemed to be no
end to the variety of methods by
which he Juggled the securities which
fell Into his hands and concerning
which he sought to deceive the dlrec-
Was Light of Finger
manner, the due.-tor - w. -e
believe that the sound se-
coil.'iteral for the loan to
1 of operation was re-
as Mr. Segal's ,]*.
render It necessary.'*
1 that these practices
i-tt the notes and pa-
loans In almost ln-
onfuslon. It was estab-
lay that the substitution
is for good bonds among
oft
forms
men entrusted
money and th<
atid small t
shows that th
ompany
of Hippie had
pers relating
conceivable « o
llshed yesterdc
of bogus
the trust securltie
K-nen.l H-m-nibly Iiourd was jte-
ciimiiIMi. il bj lllpple through n spee-
lej. .,r slelKhi ,,r hand. He wont t„ u,e
"" v ult containing the trust
• i ll I. - In rjuostlon „n the prol, xt ..f
cutting coupon* In order to cauli them,
nnd place the proceeds to the , r,.jit
• the board. After the box wan
opened Hippie Informed the clerk lhat
somebody ,,t the door wanted to s- e
him for a moment. The clerk un-
suspectingly left Hippie alone f, i thl
brief Interval. The time was suffl-
' 1 1,1 ' ''Me hhn to substitute two
b"KU« In,I -is for two genuine bonds,
which !i" ifleiward hypothecated for
•fit of himself or Segal. -
In the cases of Adolph
the bei
Segal. Willis
Uolllngwood
> V. North
vho were ar
lug of the coi
? Magistrate
The court >
id M. 8,
arrested yes-
ildlng In the
v. was held
eli known In the
• rtd.
Dlstilct Attn
fin
"He
the
S'lth
will be Imposed.'
He explained that he did
that p<
p<Jflt>d b:
>t mean
" iiily be lm-
but that pub-
•el the insur-
reasonable
Ing ther
fight ini
Honolulu. Sept. 6 —Two earth-
quakes are reported from the Island of
Milo, but It is stated that no damage
was done. After one of the shocks
hundreds of dead fish were thrown
upon t'.ie beaches. Apparently they
were scalded by a submarine erup-
tion. The earthquakes were not felt
on Oahu, the Island on which Hon-
olulu is situated.
to all Intents
pended on bo
NELSON NOT DFAD
Kansas City. Mo., Sept. 6.—A prl
vate message received here this after
noon said there was no truth in the I
rumor that Hattling Nelson was s
lously ill, and that be had left Qo
field. New, this morning for S
Francisco.
i . < . V.'s To Meet Sunday.
1 he I lilted Confederate Veterans o
Oklahoma City will please meet a
Ragle hall Sunday at 2 o'clock, p. in
to make arrangements to attend th
reunion to be held at Lawton. I
and 13.
BUST ATTACH FUNDS
<'hicago. Sept. f. Receiver Fetzer.
of the Milwaukee Avenue State bank,
which was wrc ked by Paul O. Stens-
land, now under arrest in Tangu
vlng
Kan* a s
Hose Of
J. Rose,
and Johi
today ag
upon pr
that e i
against t
supreme
Chief R.
Washings
"Assistant
lited the h
to-
dlspatch
Shaw
torn! or certificate of >
once," said Mr. Karle, "but did it
eral times over.
"He would, for Instance, recel
bond or certificate as coll
a loan, the security ropre
safe margin. Then, If m
came came along asking for a
and presenting Insufficient secu
Mr. Hippie would take the good s<
curlty deposited with h note of anotl
er man and place it with Segal's not
eral fo
ntlng i
Ity.
Bell, In outlining
bis on si ■, sal dim would prove lhat the
I nien. Willi Hippie, were en-
gaged In a gigantic conspiracy to de-
fraud the trust company and lhat as
a result of their acts more than $6,-
300.000 had been abstracted from the
institution and embodied for I lie use
of one man—Adolph S. gal. The ac-
tive persons In the conspiracy, ho
said, were Hippie and Segal. The
passive agents v< ih North and Co|-
llngwood, he continued, who wickedly
>d bv
and
the
utlon
othing to sho
tltutlon had
he deposits
red by Segal
but wildcat
conclusion of the hearing
prisoners were held for
ball being renewed.
id in the Fi
START FOR
REFORM SPELLING
Eight Hundred Twenty-tive Col-
lege and Schnol Men Have
Agreed to Use It.
nslst
UK im
^ U Sf
Ml sourl 44 l'«
ontracts a
ttlonal mlnir
e working j
sweating.
1 the . wtahlishn
Trade with Cuba for the Fiscal Year Just Ended Greater than Any Previous Year,
are Less, Exports to the Island are 25 Per Cent Greater tiian Last Year.
W.i .• i ip.rls
Washington, Sept. 6.—A report
sued by the department of commei
and labor today says.
Commerce of the I'nlted Stab
Cuba in the flu il yir J ti «*
liri
INSPECT THE
th:i
the
trude
below those of 11
In price of sugar
the Ul«uv4s were
■ xports to i
eat higher j <
i *o,
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The Weekly Times-Journal. (Oklahoma City, Okla.), Vol. 17, No. 21, Ed. 1 Friday, September 7, 1906, newspaper, September 7, 1906; Oklahoma City, Oklahoma. (https://gateway.okhistory.org/ark:/67531/metadc155044/m1/1/: accessed April 26, 2024), The Gateway to Oklahoma History, https://gateway.okhistory.org; crediting Oklahoma Historical Society.