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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