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THE MACON DAILY TELEGRAPH: SUNDAY. MORNING, DECEMBER 20, 1908
EXPANSION OF
EXPORT TRADE
PRESIDENT FINLEY OF THE SOUTH-
ERN RAILWAY WRITES INTER-
i* 1 - . M ESTINQ LETTER.
1.71 r™ ir--
JWASHINGTON, Dec. 19—Urging ns a
matter of special Importance to the south
th# expansion of export trade. President
W, W Finley, of the Southern Hallway,
has addressed tills communication to u
number of southern .newspapers:
Complying with requests from editors
of newspapers published in the southern
states for occasional letters on commer
cial and economic topics of interest to
the people of our section. I tuko the lib
erty of writing to you on the great 1m-
• export
trade with the Latln-Amerlcan countries.
Important to This Section.
This Is n matter of special Importance
-to our section, not only because of our
geographical advantage with reference to
by 'the comple tion of the Panama canal,
but also because a large proportion of
the commodities which the countries to
the south of us import cun lie produced
and manufactured advantageously In the
southern states. A few statistics will
show the great present Importance and
future possibilities of these markets. In
round figures, the combined area of
Mexico, Central America. South America,
and the West India islands is 9.000.000
square miles, and their combined popula
tion Is 65,000,000. Their population is
rapidly increasing. In the year 1907
329,122 Immigrants arrived in Argentina
alono. Among South American cities,
largest city in the world south or the
equator, lias approximately 1,200.000 In
habitants, and the progressive character
of its people is shown by the fact that
they are now arranging to put in a sys
tem of underground electric railways.
Marked Change In Conditions.
The past ten years have witnessed a
marked change In political and economic
conditions In the Latln-Amertcan coun
tries. Political upheavals are now of
comparatively yore occurrence, and. with
few exceptions, these countries have sta-
opment. In former years they were se
riously hampered by lack of transporta
tion facilities. Their needs In this re
spect nro being rapidly supplied. Navi
gable streams are being Improved, wagon
roads are being constructed, and the
Latln-Amerlcan governments, generally,
are pursuing
go\ i.Tiiiiieiiin, Kt'iiriiuiy.
enlightened policy of
encouragement to railway construction.
In 1907. for Instance, over 900 miles of
new railway were constructed In Argen
tina. making the total length of the lines
In operation In that country 14.000 miles.
In Brazil 436 miles of railway were built
In 1907. bringing the total mileage up to
11.K9 miles. Mexico lm* 14,181 miles of
railway. Chile has 1.800 miles of rail-
wav. and In the mountain country of
Bolivia a plan of construction Involving'
the expenditure of $27,000,000 of govern
mental and private capital has been
adopted. Political stability. Increasing
population, and Improved means of
transportation are resulting in material
progress and in an Increase in the pur
chasing power of the I«atln-American
peoples, the extent of which. I believe.
Is not generally appreciated in our coun-
Commodities In Demand.
Tiie I.atln-Amerlrnn countries produee
an abundance of commodities that are In
demand in other lands. The combined
value of their exports, almost wholly
mode up of unmanufactured articles, is
alxnu $1,072,000,000 per year. The com
bined value of their Imports, composed
chiefly of • manufactured articles,
amounts, approximately, to $1,005,000,000
per year. Our country is their best con
sumer. In the year ended Juno 30. 1908,
we bought from them commodities to tho
value of $287,058,079. In the same year
our sales to them amounted to $236,-
632,131. The Importance of the Latln-
Amertcan markets Is Indicated not so
much by the present value of the Imports
Into those countries
.. by the rate at
which their purchases from other coun
tries are Increasing. In 1898 the total
value of tholr purchases from the United
States was $85,861,857. Comparing theso
llgures with those for the Inst flaeal year,
shows an Increase In text years of $150,-
770.271 or 176 per cent. In the same
period the total value of our exports to
all the rest of the world increased a
fraction less than 42 per cent. Gratifying
ns this increase Is. It does not it *
what might hove been ntta ned
people had given more attention
raptilly tlian from the United States and.
notwithstanding our geographical advant
age. tliev purchase more than three times
as much from other countries ns from
us. In some markets, in fact, we have
been losing ground. .For Instance, the
July Bulletin of tho Bureau of American
— —*—•— **'- foreign com-
"Ainerlcnn cot-
... disappearing from
the Brasilian market very rapidly, while
those of Great Britain and Germany,
mnde from Airbrlrnn raw material, are
rapidly Increasing.” “*“*
ton manufactures
Me, those for the nine months ended
Sept. 30. 1908. Which show that we sold to
Brazil only 1.468.588 yards of cotton
goods during the nine months, as com
pared with 4,543.555 yards during the
corresponding months of the previous
vear. It would seem to Ik* worth while
for the eotton goods manufacturers of
the south to moke nn effort to win back
some of this trade which Is being cap
tured by Great Britain and Germany.
Articles Demanded.
The demand of the I Jit In-American
markets Is chiefly for manufactured
good* and largely for commodities the
raw materials for which are produced In
our southern states, nnd which are al
ready being manufactured In our section.
Among the articles which Utese countries
Import In large quantities, and which
can advantageously be produced In the
southern slates, may be enumerated agri
cultural Implements, all kinds of vehicles,
locomotives, cars, machinery, tools, steel
rails builders’ hardware, stoves, cotton
textiles, vegetable oils, and furniture.
While It is a fhet that the Imports Into
the Latln-Amertcan countries consist al
most entirely of manufactured articles.
It dees not follow tint southern manu
facturer- would be the only ones benefited
| n . nn Increase In exports from our sec
tion to those countries. On the contrary,
the benefits would he shared by all our
people. For Instance. If an establishment
In one of our southern towns engaged In
manufacture of stove* or furniture
St, SSS"m» -**>*‘JKfc‘4“Jfis
or one of the Central or South American
cmmtrlo... It m«tn» that It will Rive fin-
ntnvfiient to more men who nil] buy more
KSff fJom tl>» loval vftnll nvr-h.nt. an,]
Sh„Vl!l kIv- to tho emwr a larger homo
market for hi. product..
Should Movo Through Southern Port.,
It la to tho Inter*,t. not only of the
South Atlantic nnd Gulf porta, but of our
Inland cunmunltlra a« well, that our Lai-
in-American trade—both import ana ex-
part—oh'.uld How through aouthern porta.
A large proportion of the commodities
which the rmt-1 Staten Import* from
I^tln-Anirrlra nro .on.utocl In tho
ooutli. Southern manufartiimg can .up-
ply a large proportion of Ins common!-
tin which the Utln-Amarloan coun-
trtea buy abroad. It would, to. r-forc, be
to tho advantage of all ennem-d In cof.
fi,. nitrate*. trop*c*l /rult*. mahogany
timber, rubber and other product* of Cen-
>nd South America and the »e»t
. could bo brought Into •outhern
... In ahlp* which would return taden
wit!, th* product* of •ouilwm roanufact.
—t™ 1 For thl* reawm
port*
tain* Ystabllahment*. For thl* rotuton
I believe that. I* oeeklng to develop thl*
Imlln-Amorlcan trad*, ihc merclmni* and
manufacturer., not only of our ,caboard
How Old Houses Retain Same
Title Through Changes
|> in Make-up. ,.
NEW YORK. Dec. 19.—The announce
ment that Henry P. Davison, vice presi
dent of the First National Uan*.c. would
enter the (tanking firm of J. P. Morgan
& Co. on tho first of the year gives in
terest to the succession of partners that
have come and gone in the great banking
houses of Europe- and America without
a change In the firm name. After Mr.
Morgan joined Anthony Drexel In 1871 in
forming the firm of Drexel. Morgan &
Co., the business was conducted under
that name for twenty-four years, al
though half a dozen partners had been
admitted or retired during the period. In
1895 the firm was changed to J. P. Mor
gan Ac Co., eleven partners conducting
the New York business under that name.
Different Names at Different Centers.
It has often been asked why should *thc
Morgans, in common with Rothschilds,
the Speyers. the Lazards. and other great
international banking houses, do business
under different firm names In different
cities? The Morgans’ Philadelphia firm
is Drexel & Co., the London house oper
ates as J. 6. Morgan & Co., while Mor
gan. Hnrjes & Co., conduct the business
in Paris. In tho same way the great
Rothschild business is conducted by N.
M. Rothschild & Sons. In London, by do
ltotlischild Freres In Paris, and by 8. von
Rothschild in Vienna. One reason why
these different names are used is found
4n the European custom of having a bill
of exelmnge drawn by one firm and ac
cepted by another.
As all these houses do a large foreign
exelmnge business. It Is important for
them to observe the foreign usage of pro
tecting each bill of exchnuge with two
names, Just as the banks here often pre
fer “two name” paper in discounting
commercial bills. Aside from this, it is
customary with many firms to secure ns
partners for h foreign branch one gr
more local bankers of distinction whose
names carry weight at that particular
center. In a few Instances, however,
the London, Paris, or other houses of the
great International firms are entirely
distinct from the Now York, Berlin, or
Vienna houses, although ohe or more of
the leading partners may participate In
the profits of all. But in at least one in
stance tho partnership agreement limits
the liability of each house so that tho
losses of one need not embarrass tho
other*. Many of tho .partners in the
Speyer. Rothschild. Lazard. Hallgartcu.
Sellgman nnd Belmont firms received
their training at Frankfort. Germany,
where Mayer Anselm Rothschild founded
the great Rothschild business In 1803.
The firm of Lazard Speyer-Klllsen. the
parent Speyer house, was formed at
Frankfort towards the close of the eigh
teenth century.
Value of a Great Name. 1
In spite of the successive generations
of partners that have come and gone, the
aim of all the-grout banking houses Of
the world lias litfip to retain the firm
name essentially unchanged. A few
years ago Mr. Morgan was strongly urg
ed to preserve the firm name by forming
a trust company to take over the J. P.
Morgan & Co. business, just as Levi P.
Morton orgnntzed In 1899 the Morton
Trust Co. to conduct tho business form
erly done by Morton. Bliss & Co. The
suggestion was considered for a time,
but soon abandoned, several younger
partners being admitted. In bunking the
firm name-has'bqen always regarded oh
an Invaluable asset, and the courts have
held it to be "property.” But In the liti
gation of 1905, growing out of the disso
lution of the old banking firm of Vcrmllyo
& Co. of this city, the coxrts of this
state refused to let tho firm name be put
up at public auction and sold as any
other asset. Jn declining to let three of
the partners use tho name against the
wishes of a fourth, who owned a very
large interest, the court said:
•qt Is difficult to conceive of a .calling
In which Individual qualities may be
deemed to bo of greater importance In
their hearing upon the relations assum
ed: and the banker’s personal probity
nnd integrity ore ns much nn Individual
characteristic as is tho peculiar skill of
the legal or medical practitioner. . . .
It is Impossible so to transfer the Indi
vidual attributes of the members of a
professional firm as to Invest the trans
fer with the possession of them; hence
tho name—the symbol of thoHc particu
lar nttrlbutes-^-cannot. it Is hold, la* sold
as u part of the business which had
dependence upon them.”
“The Other Side of Great Positions.
prestige of a great hanking house, calls
for such iMilnstnkimc and unremitting ef
fort that only the most vigorous or young
men are usually fitted for the task. This
Is why *the gcrut majority of tho partners
admitted by the Morgans. Speyers. Laz-
nrds and Kuhn-Loebs during the last
decade have been men of thirty-five or
forty. The president of nn Interior bank,
In explaining why ho refused a partner
ship in one of these firms not long ago,
said to a friend:
*’I do not care to be at a big man’s
beck nnd call all day, even If It does
mean $100,000 a year nnd admittance to
several Influential directorates. I would
rather be a big man in Baltimore at $15,-
ooo u year, with office hours from nine to
three, tlian be a junior partner in a
great New York banking house, slaving
my life away at ten times the salary.
drawn. While ft partnership In suc h I
firm as Morgan’s means a fortune every
year. It calls for a vast amount of hard
work, with hours often from ten In the
morning till midnight. Charles H. Cos
ter died under the Strain, as he would
cities but of the Interior ns well, and
southern transportation linos should nil
co-operate, as far os practicable. In.
systematic efforts to guide Iwtli imports
•i.nd exports through southern ports.
Matter Worthy of Attention.
In view of the present importance of
the Latln-Amerlcan trade and It* future
possibilities, I believe that the people of
our section of the United States may
well give It Increase.! attention. The
federal government, through the publics
about trade opportunities in tho lAtln
American countries, the special needs oi
their markets, nnd the best methods of
conducting business with them. The In
ternational bureau of American republics,
to the support of which the United States
is the lurgest contributor. Is devoted ex
clusively to the work of drawing the re-
publics of North and South America Into
closer social and commercial relations.
As ft result of suggestions mude to him
by citizens of the south, Hon. John Bar
rett, director of this bureau, Is now* con
templating a trip through the southern
states for the purpose of delivering a
series of addresses on tha general sub
ject of trade with the countries south of
the Rio Grande, with special reference to
the Interest of the south In that trade.
These addresses will doubtless be of great
practical value to our section. ,
If, however, we #r# to obtain the full
benefit of the werk that I* being done
by the federal government and l»v the
bureau of American republic*, we must
make prmellml use of the Information
which they gather end disseminate. This
I* ft matter Tr which. I believe, we should
ill take an active Interest, and I ntn
willing fa you on this subject In-muse
I know of no na»ney that can contribute
more to Hie bringing about of a broad
and IntoWgen* public Interest In the de-
t of this trade than ran the praea
vslspment of this trade then ran the prra
when you send your orders to us. Our system of filling
orders correctly is perfect—your goods go out on FIRST
TRAIN after receipt.
The Holiday rush is on. The Express Lines will soon be
choked, some packages broken or lost, causing aggravating
delays, so send your orders to an old, established house—
one you KNOW you can rely upon.
Our old customers need no warning, but we desire to
CAUTION those who have been disappointed by sending
their orders to irresponsible parties.
Every shipment from our house carries the ROSE GUAR
ANTEE of satisfaction and this guarantee is backed by a
reputation gained by square and honest dealing for HALF
A CENTURY.
ORDER NOW and get WHAT you want WHEN you
want it, with the assurance that unless you are entirely
satisfied, your money will be cheerfully refunded.
‘A.sk the Revenue Officer !
Rye Whiskies jft
Winkles $2.50
Rose’s ATRO
Rose’s Purity 4.00
Double R
Rose’s Constitution .. 5.50
m 99
PRICE LIST
D ft Corn Whiskies jft
$ Rose’s Mountain Dew $2.50
3.40 Rose’s Blue Ridge 2.70
4.25 Rose’s Sweet Mash 3.00
4.00 Rose’s ATRO
6.00 Rose’s Reserve Stock i 4.00
Four
Quarts
?
3.00
3.25
3.40
4.25
1 Gal. Bottle 4 Qts.
Wines and Brandies
1 Gal. Bottle 4 Qts.
•t (California) $2.00 $2.60
Best Port (California) 2.50 3.10
No. 2 Sherry (California) 2.00 ‘2.50
Best Sherry (California) 2.50 .3.10
Write for Complete Price List of Whiskies, Wines, Rr,indies and other Liquors. Express Charges Prepaid only to Towns reached by Southern*
Express Co. Please give your Street and Number so that Packages will be delivered to your Home.
R. M. ROSE CO., Distillers
Scuppornong (North Carolina) $2.50
Rose’s Virginia Apple Brandy $3.00 3.50
Roso’sVery Choice Old Virginia Brandy 4.00 4.25
Rose’s Pure Peach Brandy 3.00 3.50
Rose’s Very Choice Old Peach Brandy 4.00 4.25
Chattanooga, Tenn. RANDOLPH ROSE, President
ORDER FROM NEAREST POINT
Jacksonville, Fla.
not give tip even after his physicians
warned him that his hralth was broking,
and that continued effort meant mire col
lapse. Another of tho younger Wall
street bankers whose "rapid rise” has
made his name familiar to magazine
readers, hat become almost a stranger to
his children,! as he rarely reaches home
before they have gone to bod. and his
office dutira often call for Sunday meet
ings and evening conferences at an up
town club or hotel. Several of the bank
er* who served on the varloua relief
committees during last year** panic dls-
turbnnc.*, almost collapsed under the
strain and were forced this aummer to
tuke long vacations In Europe to recover
from what they have since failed the
"most trying throe months or their
livas.” ■■■■■■ |
SON OF MILLIONAIRE
SELF-MMISONER
MISS HOBART CHARQE8 ABDUC
TION WHILE SHE WA8 SAYING
LOVING GOODBYE.
NEW YORK. Doc. 19..-One of th#
tarty caller* at tha district attorney*#
office yesterday was a smooth shaven,
correctly clothed man of twenty-s«v#B,
who aftld ho wanted to he arrested. Mr.
Jerome received the culler with ft
smile of satisfaction and granted 1:1#
request, Joyously.
He was Robert W. Fullerton, son of
a St. Louis millionaire, over whom a
charge of abduction ha* been pending
*lnc« April. Tho charge Was brought
At the instigation of Mis* Gladys Ho
bart. ft charming and highly edit Jft ted
girl who formerly lived on Hmvlty
Terrace, Hurriman station, near Yon
kers. Fullerton 1s alleged to have per
suaded Miss Hobart to start with him
for South America In September, 1906,
under the promise to -marry he! at
tho first port whore the steamer Trent
touched. It Is alleged that when they
reached Jamaica, Fullerton escorted
her to o hotel nnd deserted her. Hhn
communicated with her parents and
eventually reached New York.
Hs Fall in Lo/t.
Fullerton was a student in f’ornvH
University n the name time that Miss
Hobtrt was studying there In Wage
College. They were scan much In oifrfc
other's company nnd ttiHr frl> ;uls un
derstood that they #rera •imaged. Thay
corresponded #ft*f leaving college, Ful
lerton entering the employ of his fath
er. H. If. Fullerton, president of the
Chicago Lumber and Coal Uompmy,
and a man of gr.wt wenliii whose home
Is In Ht. Louis. II# dispatched his #on
to South America to buy lumber nnd
It waa on this trip, so It l« alleged, that
Miss •Hobart was a passenger on tho
Trent.
The events centering nround the trip
nave hung like n cloud over young Ful
lerton, It Is said. Later, h- undertook
the management of ills father’s butii-
nesft in Seattle. Wash., where he won
a high place In the business communi
ty. Ills appearance in New York Is
said to be for the purpose of clearing
Ills record. If any taint attaches to It,
and starting life anew.
lie was urcotnpAnled hy counsel nnd
two representatives of the United State*
Fidelity and Surety Company when lie
called on District Attorney Jerome. Ho
made tils request to Ik* arrested after n
conference with Mr. Jsrome and being
formally placed In custody h'* was taken
at Once before Judge itosalsky in the
cO#rt of general sear.tons. He pleaded
not guilty to the charge and was held In
$2,000 boll for trial. Ball was furnished
Immediately and no date was set for the
trial.
Brat th# Detectives.
Detective* Fltsslmtnons nnd Fogarty
were jpomewtNU non-Mussed when they
saw Fullerton, lie had M them one of
th* liveliest chases of their expertem**
nnd they never thought to see him again.
Following Fullerton's indictment. Fogar
ty ami nifcsrmmnnN Irarned that he Wnft
in NratUe him they set nui to arrest
him. Killy In May they served on him
requisition papei* Issued by Governor
* wns a technics! legal ol>-
by the aulho
/ngtnn Ho tli
spirited Fullerton nltOaVd ft steamer
bound for Ban Francisco. On their nrrt-
vr»1 there, the elder Fullerton Imd pre
pared for Ills son's defense. 1|nt>efl* cor
pus proceedings were brought nnd
young Fullerton returned to Seattle
while tho detectives returned to New
Yotk.
Held Hands; Boats Slipped Off.
Soon after her return from Jamaica,
Mlsn Hobart conferred with City Judgfc
.Joseph If. Benll, of Yonkers, film told
Mm that Fullerton wrots her to meet
him In N'-w York as he was going to
ssil on the Trent, fhe arrived at the
pier ft half hour before sailing time run!
was escorted to ft quiet com«r of tho
main saloon. Bhc alleges Fullerton took
her humt. placed It io hts ftps and nsked
her to marry him. Miss Hobart alleges
that as they sat planning the wedding
Wtllm Fullerton Should return, th# ship
• list off without tholr knowledge. Miss
Hobart says ah* waa tin. msotabto until
Fullerton promised to wed lior os soon
m*i the aiennter rearhed the first port
and tlierofom She eonm nted to Accom-
twny him. On iwr rotom to New Yura,
Judge Iball secured for b<r a po-H|..n
as stenogrsphor In a lawyer’s ..rri. • so
she eoiifd trs-nint* #olf-NUm«>i h*ik
Fulleiion would item.• i ifTlrm unr d<*.
ny ytslvrday tho vwpoit which has dr-
enisled around ths dlxtrict attorney's
ofllco that b# lifta marriod Mbs Hobart.
~tr
Smile Mtist Bo Pink.
From a !*ondon !.otter.
’•Thoso mysterloua Influences which de-
is-ee at certain times that wft muat do
thin Or that,” writes tho "Woman of tho
World” to a society periodical, "have at
thl* present time decided that lovely
woman must bo pink, not merely as re
gard# her complexion. Which, of course,
can easily be shuded, to suit the require
ments of the moment, but pink as to tn-i*
whole tone. Even her smile must be of
this hue.
•How Is thl# to be don#? Had avo
heard that blue wits the required color
we should have grasped the poesWIltty of
carrying out the command. But how Is
on# to lie pink? Nothing Is carter, wo
are assured, and .the 'pink* rnnllo Is war
ranted to succeed where everything else
falls. The secret I* not only to wear
pink, hut to have one's whole environ
ment of the same tone, to use perfume
! • I -M |1-..\ .-I s v. I. , I iU\ •• fill -i
tone of It In their coloring.
’’Naturally It la not glv«-n to all women
to be abb* to ’moke up' pink or to us. it
In any shade. For them foi innately
there exfil other colors wh!< h bring them
lu. k. but lho«o whom it #u!ta should la
no circumstance* neg 1 *' 1 to b# pink.
"When you andle i i:Skly It Is mid- r-
M
vlth
well as vour lip*
that