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THE VALDOSTA TIMES, SATURDAY, MAY 16, T908. Why Foreign Capital Left the State of Georgia Last Year. (From The Gainesville Eagle-> Then- Is no dispute over the act that no one Is Investing capital i„ any Georgia enterprise at the present time, end therefore would It not he wise to Inquire calmly and fairly into the reason way'! Governor last When Governor Smith took the oath of office year, cori»oratioii8 were paying four taxes, viz. 1 Advalorem tax, which means taxation on all visible property, *ucb as Individuals pay. . 2. A franchise tax, which means taxation on the right to do buniness In the state based on the amount of the not Income the cor poration may make and aB a general rule It doubles the ad valorem Ux. ' , 4 . Z. An occupation tax, graduated according to the capital stock of each corporation. 4. Registration tax, which Is a small tax on each corporation for the purpose of Increasing the salary of the Secretary of State.. To the average Impartial mind, this looked like a very heavy fax. Tnc corporations were paying it without complaint. When Governor Smith assumed charge, he at once Insisted that the corporations were not returning their property and franchises at their full value, and Insisted that the Comptroller-General should a - •ess them much higher. The result was that the Comptroller-General did raise the as sessment on all corporations which amounted practically io a doub ling of both ad valorem tax and franchise tax. The cori»oration In some Instances resorted to arbitration and In good faith abided by the result and while they were considerably dis turbed and alarmed they showed no signs of withdrawing from th" jtate. However, Governor Smith was not satisfied with this great in- tToaso^ln taxation but sent a special message to the legislature on August 7, 1907, Insisting that nn Income tax of not less than 1 per cent of the gross earnings of all transportation and street car com panion of Georgia be passed. This tax was not to be levied upon the profits that a road might tuzkc but was to no levied upon the gross income, or, In other words, upon every dollar that the road received from Its business during the year, even though It made no profit and even though all the mon ey It received had to be paid out to employes and general expenses of operation. Acting upon this message, a bill ■wii Introduced In the 1egl»)a- tnr* to tax companion In the state 2H per cent upon their cross In come. rocardloss of whether they made any profit or not, and this tax to bo In addition to tho other four taxes above enumerated. Would Have Bankrupted Georgia. Had thla bill been passed, It Would have bankrupted every cor poration In the state of Georgia. {o. . ,$ucb a bill to bo constitutional would have to apply to all cor- dotations. i It would have cost the N'ew Holland cotton mil! 180,000 per year, In addition to the tnx they now pny. It would have cost tho Gainesville cotton mills over $25,000 a /car In addition to the taxes they now pay. ’ ft would have cost the corporations In Georgia |nlllIor.s of dollars * per annum, in addition to their present taxes, an<t would have prac tically wiped out their entire profits. jf This bill did not pa s but it was sufficient to grouse the intense * fear of every man In tho United States with money to Invest. It was , published In tjie leading newspaper® of the United 1 States and in £ Harope, and what was the result? Tho tyilroads that'had been pro- i . JeMod wore abandoned ■BJ^iouble tr»ckin* of thelBouttera Rill- ^ km4 from Chijflotle 'to AtlnH? ni abandoned. The Anthony Shoals Power Company, which had $12,000,000 In <hc bank to develop the Immense water power In Wilkes County, wtthdrew their money Into South Carolina, stopped all work In Geo»» t‘* and went to developing water powers In our sister state. South Carolina, which was wise enough to offer inducements to foreign capitalists to pend their money In developing her resources. The North Georgia Electric Company of Hall County had been •pending over I25.0U0 per month for several years, but had to stop aH Improvements of every sort nnd has been unable to obtain a sing le dollar cf foreign capltnl since the introduction of this income tax WIL Many Other Enterprises Were Abandoned. Before this hill was introduced, every snw mill In Georgia was rtii'nlrg "f fail speed with more orders for lumber than they could fill at good profitable prices. Now nearly every saw mill has shut down. There is absolutely ao sale for lumber to amount to anything, tho price has dropped fully -half and many of the companies are now in tho hands of receiv er*. Wlirf Ik true with lumber Is practically true with brick and all bufM’n*? •’•s’ter al and bankruptcy stares their owners In the face. Tlrtnuranif* rf laborers have boon turned out of employment and are ctjw sufir.iig nrd ur able to find work at greatly reduced rates and t!v# stirpes cf unemployed labor has the effect of cutting the wage. , frt many Inrr.v >•* «s, of those who are fortunate enough to retain their pc itlcr::. T'.u i rice of labor has been cut In over/ buslne s in Geor- «**• Broke Cotton Markst. Besides this, and worst of alt to the farmer, with a short crop of ertten. which should have brought 15 cents per pound. It never reached over 12V« cent:, and Is now below 10 cents. All this, with the active efforts of the admlnistratlorn to flood Georgia with low- prfeed Immigrant labor to further depress the price, brings us face to face with the most serious danger In our history. . Gotten goods are down below the cost of production and every cotton mill in the South has been running for the past nine mouths at a dead loss and nave millions of dollars worth of goods stacked •p which they cannot sell for enough to pay for the making. Merchants realize this condition and know that the price of goods l* bound to fall and are only buying from “hand to mouth.** ■ Jast enough to supply the local demands. This state of affairs cannot last tong and unless there Is some reaction !- the cotton goods market the cotton mills will be forced to that iLwn. Hostile Attitude of Smith Responsible. These are the facts, and Governor Smith’s hostile attitude to foreign capital Is largely resj’onslble for It. Hnbe Arnold, of Atlanta, special attorney for the whiskey ring, iMyo that inly “dura fools" are opposed to Hoke Smith. The above cause and disastrous effects are so plain that "a way faring man. even though a ’darn* fool, may not err therein.’' So long ns thi.: menace to foreign capital exlstb In Georgia just io long will toe door of progress and improvement be locked and capital kept out of the State and the development of our splendid resources retarded. A* long as Hoke Smith is Governor our saw mills and brickyards win bo Idle, our factories closed, our railroads at a standstill and mechanics and laborers out of employment The Inman Failure. 81nco writing the above. Inman A Co., a Arm composed of James F. McGowcn. of Augusta, and James R. Gray, of Atlanta one of the largest cotton firms In the South, have failed for over one and a sruartcr mlllirn dollars, and have been placed In bankruptcy. Mr. Jnme R. Gray, who Is the editor of the Atlanta Journal, the leading Hoke Smith organ of the State, gives as a reason leading i?P io till* failure that it has been caused by the long and continued 4eprvsilrn In th» cotton market. Mr. Cray has cur sincere sympathy, fot; he Is a fine gentleman, perseonny. and we wish him success In every business undertaking. Bst. it I n true as the law of the Medes and Persians, that one business cannot fall without affecting others, and that the war upon capital lias broight about a chain of disasters. When the Pins Began to Fall. When the Seaboard Air Line went Into the hands of a receiver. the Hoke Smith boomers sold it was already broke, and that It was placed in the hands of * receiver for political effect. When the Tallulah Falli Railway failed and went into the hands of a receiver, they* said It was politics. When the ElbeffliL Air Line Railroad, between Toccoa and pl- berton, failed, the/ sfid it waa politics. When two or th?£$ big cotton mills In Middle Georgia failed, they Wlj, R was politics. When^the Neal Bahk of Atlanta failed, they said It wa3 bad Investments. When saw mill after saw mill and several brickyards shut down, they said it was politics. When cotton kept dropping, they said It was due to speculation Told Gray Wouldn’t Lend Money While Smith was Governor We understand that Mr. Gray visited New York about two weeks ago and made every effort to raise money, but received In reply that Just so long as Hoke Smith continued his war on capital In Georgia, just so long they would refuse to advance one single dollar for any enterprise whatever In the State, and falling to raise the money, there was nothing to do but to go into bankruptcy. It Is stated that the estate of Walker P. Inman Is involved as endorser to the extent of $450,000. The assets are represented almost by cotton and futures. Much of them were bought at prices far higher than those prevailing now. The failure Is admitted to be the severest blow that has struck the Southern cotton Industry In a decade as It was the biggest Southern firm and probably the world’s greatest exporting concern. HOKE’S SPEECH a Vote Changed by the 0; ical Efloft cf Governor j mistaken the purpose of the gath ering. A man had been killed by a freight train a little while before the Governor’s arrival, which sad fact was the cau-e of tho congregation of citizens. Governor Smith made reference in his speech in this city shortly after wards to “the Louisville and Nash ville Railroad causing hoys and men to congregate at the depots and hol ler for Joe Brown.” People Have Car A DEMOCRATIC APPEAL. ‘-ry Democratic member of the ; ?e of Representatives has sign-' fully Canvassed the Situation and cd a petition to the Spoftker request- Fences are in Good Shape—How lng Wm t0 recognise some member to move to discharge the Committee Ralph Smith Tried to Work up an „n Ways and Means from the further Ovation for the Candidate and Failed in the Attempt Cartorsville, Ga.. May 11.—Care ful work upon the part of the Joe Brown men, who have spent several days maxing a canvass cf their for ces, show that the visit and orator! con; ideration of, and to suspend the rules, and to pass the Stevens bill, or any other bill, having the effect to put wood pulp and print paper on the free list John Sharp Williams, the Democratic leader of the House goaded the Republican leaders to fury by beseeching 30 Republicans, at least, to come forward and add expected to sadly deplete the Browd ranks, has not changed one of hit followers. On the contrary, a largi number of people have voluntaril; asked that their names be placed up; on the Joe Brown Club lists. Twen ty-three Hamas were added In this city alone two days after Mr. Smith made his address to the voters at the tabernacle. The Brown men wore willing concede a large number of convi that were expected when the ernor talked to the voters, but, none have been reported, the day, with Its Ijirge crowd and eift enthusiasm U*-teoked Smith defeat Information that has been coming In to the Brown headquarters clf&rly Indicates that this county will go for Brown by a large majority. Tho city of Carter, vllie Is mixed, and the Smith men claim that It will be a show down, but the opposition la con fident of winning a complete victory at this box. A number of statements made by the Governor when he spoke In this city have caused feelings bordering upon anger. He declared that he was willing to concede that a few good men were against him. but that they were too good to keep the com pany they were in. This was taken cal effort of Gov Smith, which WM j^helr signatures to the petition. He led on tho.^e who had Introduced [or free print paper to sign, but >e came forward, not even those fl made speeches In favor of leasure. Mr. Williams made .st for action facetiously, he knew no Republican would come for ward to the mourners bench, and repudiate the hide-bound partisan ship that hangs like a pall over the | deliberations of this Congress. He 1 told them that: “While the lamp holds out to bqrn. The vilest sinner may return.” And added: [ [f you have lately been, or ex- to he, in a ay manner bull-dozed 'or boss-ridden, why, think for a sec ond; think what a short life we live! here and how necessary it is that we should do things.” But Mr. Williams’ prayer fell upon standpat ears, and not one Republi can sinner of them all came forward to show that he really -was for even this small measure of tariff reform, even to curb a trust that is plunder ing every newspaper publisher in the United States. How can the voters expect that "after election” Republican Congress men will be any more willing to un dertake the greater task of tackling hundreds of trusts which are pro- d by the tariff when they refuse pt to reflect upon the to take the tariff pap from this in- railroad and working men. and has | f a nt that Is eating up the substance been re ented by a largo number of i 0 f newspaper proprietors. Every Re people who heard the statement. j publican Congressman is now on rec- Candldate Smith also said that Joe ord as either opposed to tariff re- Brown buttons would be found on L. j form, or afraid to disobey the orders ft N. R. R. depot agents, ex-barroom ; 0 f the standpat leaders who are wed- keopers and negroes, and the evident ded to their alliance with those trust intention in this statement of class- magnates who furnish the main part lng the whites and negroes together has caused much Indignation. A serio-comic Incident that has caused some amusement, and goes to show that at least some of Governor Smith's mistakes are attributable to his foolish friends, Is being told in North Georgta since the Governor’s reoent oratorlcai tour. When on his way to CartersviUe, where he spoke last Wednesday morning, the train on which the chief executive wi of the campaign funds that keep the Republican party In power. Turn the rascals out and elect Democrats if you desire reform. “SINCE COTTON WENT DOWN/ Here la a piece of campaign dog gerel that strayed into The Time* office this morning. Rufus Rastus JSfwaon Brown What you going to do since passenger j Cotton went down? stopped at Kennesaw, where a large ; What you going to say, crowd was gathered about the depot.; How you going to pay? x Ralph Smith, the Governor's man j You hold tor higher price, they say, “Friday,” and lnkslingor General, j You ought to be beat, was rubbering out of the car window you out to be bound, and wnen he saw the people prompt- 1 Holding for flfteeen cents a pound, ly ran to his chief with the news Rufus Rastus Johnson Brown that another ovation was on foot. What you going to do since Tho Governor smilingly followed his Cotton went down? scribe out upon the platform of the coach, where he doffed his sombrero. Liza Linda Johnson Brown assumed his campaign smile, and Handsome Hoke has got us down, graciously nodded his august head. ! I’ve nothing to say, Not a cheer. He was an unknown j How can I pay? hero. I guess we’ll get eight cents in May. Realizing that tho crowd did onv | I’se Just as sick os I can be. recognize the "Big Gun” with the I For the retail merchant is down on nod and the smile that was rapidly i me, wearing off. Ralph dropped from the J l.iia Linda Johnson Brown, train and circulated among the crowd I Tse hoping and praying for telling the glad news that the “Gov ernor had come,” but stil no cheer*. Ralph was nonplused, but not dis mayed. He saw his chief turn from the “ungrateful rabble" and march back to bis seat. Then some one te the crowd informed the organ cor respondent that the Governor had "Little Joe” Brown. No further criticism of the house for Idleness l« possible. The other day it posed over 1,000 pension bills. Most of these were introduced by the Congressional Fence Builders’ Union. Lawyer Met Death in House Provided for his Sweetheart . Rome, May 12—Last summer’s ro mantic traqecj at Venice, In which the murdered Russian Coifnt Kama- rovsky was the principal, has been followed by another similar sensa tion in the same city. A prominent young lawyer named Giambattista Munari, son of the pres iding judge at the Venice law courts, had been missing for three days. His body was at length discovered in the house of a former sweetheart. It was lying In a pool of blood, and was horribly mutilated, with a stiletto stilt sticking In the throat. in a bedchamber immediately above the apartment in which the i lawyer’s body was found lay the • corpse of the woman. In whose case death was due to asphyxiation. When the police burst Into the house the '> gas jets were still full on. The crime was the outcomo of jeal ousy. The murderess, Teresa Valin, thirty-six years of age, was widowed early In life, and afterwards lived with a rich Englishman, who appar ently secured a good berth for her eighteen-year-old son in Canada. The lawyer, Munari, became her lover seven years ago, when he Installed I her in the luxurious apartments 'where He met his death. About three years ago Munari for sook Teresa Valin for another wo- man, and this led on several occao- ions to humiliating scenes in var-ous public resorts. Finally a report that Munari intended to marry her rival aroused the Valin woman to ungov ernable wrath. Shortly before the tragedy she met Munari In a fashion able restaurant at the luncheon hour and Insisted on an immediate Inter view. The result was that the har> assed lawyer pledged himself to pas« the evening In the Valin woman’* apartments. According to the police theory, Munari was from that moment a doomed man, the woman having ar ranged to drug the wine of her vic tim and stab him to death. The apart ment showed traces of a terrible struggle, and there were several slight wounds on the woman’s body. The woman, who afterwards retir ed upstairs and committed suicide, had. according to her maid’s testi mony, often threatened to take the lawyer's life should he decide to mar ry another. Delegates to Convention of Locomotive Engineers Report Columbus, O., May 13.—About 750 i delegates, representing a member ship of 70,000 locomotive engineers j employed by the railroads of the i United States, Canada and Mexico, I were present here today at the open- I ing of the biennial convention of the ) International Brotherhood of Loco- : motive Engineers. The women's aux iliary of the brotherhood is likewise holding its convention here and the meetings combined have attracted a total attendance of several Jiousand visitors. The reports prepared by Grand Chief Warren Stone and cvher offi cers of the brotherhood show the or ganization’s affairs to be in a highly satisfactory condition.. During the* past two years it has steadily gained strength and membership until now it has contracts governing wages and conditions of labor with 107 railroads, including all of the trunk lines and ! most of the smaller roads. Since its. J organization the brotherhood has dis bursed as death and accident bene fits a total of $18,500 000. In 1900 the city of Cleveland was selected for the international head- nuarters of the brotherhood for at period of ten years. This term will expire two years hence and th% pres ent convention is called upon to take action In regard to the matter. Cleve land desires to retain the headquart ers, but half a dozen cities are ready to contest the honor with her. The cities putting up the most vigorou* fight for the headquarters are Indian apolis, Chicago, Minneipotis and De troit. Pitiful Story of Girl's Fall and Unusual Meanness of a Man. Atlanta, Ga., May 13.—A pitiful! story of a girl’s fall, and man’s du plicity came to light here yesterday in the arrest of L. D. Cheek, of Grif fin, while arranging at an undertak er’s to have Pearl Toland burled in a potter's field. Last October Pearl Toland took $400 she had saved from the bank, and disappeared from Grif fin. At the same time Albert Cheek, married and with three children, also disappeared, and it was com monly reported that the girl and Cheek had gone to Texas together. Nothing was heard of either until Pearl Toland died Sunday night in Grady hospital here. The woman with whom she was stopping wired L. D. Cheek, a brother of Albert ! Cheek, who had secured the girl a boarding place here. While here tho girl had small pbx and was sent to> the pest house. She was taken from the pest house to the hospital, where she died in child-birth. L. D. Cheek came to Atlanta, and breaking open the girl’s trunk, burned her letters, and took her jewelry. Information had gone to Griffin however, and yes terday the chief of police from there and the girl’s brother came to Atlan ta, and had L. D. Cheek arrested. He declares that he Is Innocent of any wrong towards the girl, and that he only met her on the streets here a few weeks ago. He will be held pen ding an investigation of the entire matter. Nothing has ever been heard of Albert Cheek who disappeared when the girl did. She went under the name of Vr . Pearl Cheek here. Emperor and Empress Attend Pageant on old Medival Lines Berlin, May 13.—The Emperor and Empress, attended by large retinue, today were present at the mediaeval pageant held to mark the opening of the reconstructed fortress of Hoh- koenlgsburg. The ancient keep, which lies in the heart of the Vosges Mountains, was first built by a prince of Austria, changed hands many times during the Thirty Years’ War, and finally came Into possession of the neighboring town of 8chlettstadt, which gave it to Emperor Wiliam. The latter had It rebuilt In Its origin al condition under the direction of the Berlin architect Bodo Ebhardt Today’s ceremonies reproduced the formalities used at one of the changes of possession when the three son* of a knight of Slckingen were Invest-' ed with the estate. The chief feature of the pageant was a procession up the winding road leading to the for tress, with th# three knights In full panoply riding at Its head and a splendid retinue of equerries, banner bearers, men at arms, archers and varlets In the coetume of the time following them. THE MINUTES Of the Last 8esslon of Wright’s Capet Singing Society. The Wright’s Capel Singing So ciety met Sunday morning, May 10, 1908. The house was called to order by the president. Then Mr. J. B. 1 Corbett led the opening song, and ( prayer was offered by the president, i The committee reports singing as 1 follows: Mr. Roy Prine accompanied by Miss Eugenia Zlpperer. Mr. Crawford Corbett, accompani ed by Miss Eula Clayton. Mr. Gus Scott aocompanled by Miss Emma Kinsey. ! Mr. Thomas Prine accompanied by Miss Zora Clayton. Then a recess of twelve minutes was given. The house was again called to order by the president .Mr. Corbett also announced that they would meet at Sardis church next Sunday afternoon for the purpose of organizing a singing society. Every body Is Invited. Then the minutes of the last meet ing were called for, presented and read. The bylaws were also read. Mr. J. A. Kinsey and Mr. J. B. Corbett led a short lesson and prayer was offered by Mr. E. F. Zlpperer. The society was then dismissed un til the second Sunday In June, 1908, at nine o’clock sharpe. Come one and all. J. A. KINSEY, Pres. R. M. PRINE, Sec’ty. Beautiful 8ouvenlr Post Cards. The souvenir post cards Issued by the Atlanta, Birmingham and Atlan tic Railroad are proving exceedingly popular. They are printed In col ore end represent attractive scene* along the line. A set of seven of these cards can be secured .by sending ten cents to W. H. Leahy, General Passenger Agent, Atlanta, Ga. 2-37-dtf. Mr. W. H. Morgan, of Tampa, Fla., was In the city today.