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DO YOU WANT THAT PIANO FREE? Well, buy now. Or is it an Organ you want? Well, buy now, and maybe you will get it free. The days are slipping away, and 1904 will soon be history. It will be historic, indeed, for you if you buy a Piano or an Organ from LUDDEN & BATES SOUTHERN MUSIC HOUSE AND FIND YOU DON'T HAVE TO PAY FOR IT. That’s what somebody will have done when the guesses are reviewed on Jan. 1, and it is ascer tained who the fortunate person was who guessed nearest the number of pianos and organs we sold during the year 1904. During May the sales amounted to 228. Can’t you estimate the total from that ? Anybody who buys or has bought during 1904 a piano or an organ from us will be entitled to a guess, as will all other of our customers whose accounts may be paid up to date on Dec. 1. Buy now and guess now. Your chances are diminishing as the days of 1904 that remain diminish. LUDDEN&BATES SOUTHERN MUSIC HOUSE % SAVANNAH, GA. TAMPA, FLA. VALDOSTA, GA. (Carter & Dorough). TIFTON, GA. (Carter G Dorough). AT LAST TO BE AMBASSADOR WHITELAW REID’S AMBITION WIU PROBABLY BE REALIZED BY CHOATE’S RETIREMENT. The Editor of the “Tribone” a. Lucky Man Ait Hi* Life Save Twice—Once He Failed as a Cotton Grower and, aa All the World Knows, Once When He Ran for High Office. Choate’s Great Personal Popul arity On the Other Side of the Water—His Books, His Plctnres and His Terra Cotta Statuettes ot German Notabilities. New York, Nov. 26.—Newspapers whose correspondents'ought to know, have been saying for a week that Whltelaw Reid is to succeed Joseph Choate as ambassador to the Court of Edward VII. These same newspapers are point ing out the circumstance that whereas Hay was once as an editorial -writer on the Tribune subordinate to Reid, Reid will now be subordinate to Hay. For no one imagines that either Mr. Roosevelt or Mr. Hay will change his mind. Hay will surely continue as Secretary of State. Both Hay and Reid are Ohioans by birth, but the metropolis has a big claim on each, though the claim on Held is much the stronger. Mr. Hay’s residence in New York was not of long duration, while Mr. Reid has lived her# most ol the time since the Civil War, his “legal" residence here having been continuous ewer since he first located In the town. Most folk who have known Mr. Reid’s career fairly well have the no tion that be came here almost imme diately after the close of the struggle between the North and the South, but he didn’t. Like Albion W. Tourgee, who wrote “A Fool’s Errand” —who ever thinks of him nowadays?—Reid thought It would be a good thing to fnake a fortune raising cotton. To that snd he bought a plantation In the houth snd put in two years or so in the attempt to win It. But, again, like Tourgee, he failed. This taught him ' *** on that thfi shoemaker learned 'nen he forsook his last; since then LTII j* "tuck to Journalism, save when caned upon to represent his country on the other side of the water. Mr. Reid la a nfan of commanding -nptffiK have the *#- eret of health nd Strength. There Is noth log else near )§ ’ IW".y* (11 res IndlgcNt l*m, I'lntuloiKv. w Weak kidney. TERS Hir Try it ability; no one could reach his posi tion without it, but he is also a lucky man. Only twice, Indeed, has his luck failed him. Once when the army worm destroyed his cotton plants and once when he ran for the Vice presidency. Asa student at Miami University; as ’a newspaper publisher in Xenia, 0., where he ran the “News,” his first paper; as correspon dent, first reporting the Ohio Legisla ture’s doings, and later the battles and movements of the Civil War and as the successor of Horace Greeley In the conduct of the Tribune, his luck has never once deserted him. He was lucky, too, in his marriage, both finan cially and otherwise. His wife was Miss Mills, daughter of D. O. Mills, the financier; she brought him money in plenty and their domestic life has been almost ideal. He is now 67, and bad luck must hurry if it is even to overtake him. Those who know" Mr. Reid well say that he is a marvel as to self-control. Every one familiar with the work ings of a morning newspaper knows that there are times when a lit tle strong, unconventional language seems to clear the atmosphere won derfully. In the early days of his control of the Tribune such times used to come along pretty frequently. But If tony one connected with the Tribune ever heard the chief swear the fact has never been recorded. Not that he can’t be severe on occasion. The contrary is true; Whitelaw Reid's reproofs are greatly feared by the men on the paper. Hete’s a little an ecdote in point; Once upon A time there was an editorial writer on the paper whose long suit was an endless flow of words. He could use up more good white paper and more good black Ink and say almost nothing than any other man, on the paper. Some of his articles were so long drawn out that the Tribune’s edi torial page was really damaged by them. One day Mr. Reid called the writer to him. The latter Mad no idea what was coming,—no long-winded writer ever had a notion that length is a defect in his work—and waited anxiously for whatever was coming. Mr. Reid said, simply and gently, too, for that nfatter: , 'Mr. , I wish you’d write less and think more in the future." There isn’t the slightest doubt that the writer would have preferred an in terminable ’ string of genuinely sul phuric oaths to what he actually got, but the mildness of the rebuke didn’t stand in the way of his reformation. He did “think more" and “write less” from that day forward. No one who knows Mr. Retd thinks his lack of violence due to lack of a good healthy temper, though. They think, rather, that he saw early in life that to win the prizes he sought he must control men, and that he realized the necessity of controlling himself be fore he began to try to control others. Unlike moat editors, Whitelaw Reid is an excellent business man. It was quite as much due to his business ability as his editorial capacity that he made the Tribune pay out despite Its somewhat shaky conditions after Mr. Greeley's death. The Tribune counting room sees him rarely nowa days, probably, but for soma years he grave aa close attention to it as he did to ths paper’s editorial policy. Every day In those years he spent some time In ths counting room, al ways visiting It before he took ths ele vator to his work in the tower. In no sense a thick-skinned man, Mr. Reid has nsvsr winced at the cari catures of him that began to be printed as soon as he was thought worth the caricature's pencil In this he is like the late Thomas Brackett Reed lie area almost be side blame if with glse when Harpor's SAVANNAH MORNING NEWS: SUNDAY. NOVEMBER 27. 1904. Weekly first caricatured him and to the day of his death he kept a copy of it, framed, in a conspicuous place in his home. Mrs. Reed never liked the caricatures of her husband and often urged him to put this particular one out of sight, but he always gloried in It as proof that he really was a factor In the affairs of the day. Mr. Reid has always regarded writings hostile to him personally in the same light, which has been a good thing for his peace of mind, since few men have had to face more or bitterer personal attacks than he. No secret has ever been made of Mr. Reid’s Intense desire to represent the United States in England. It was to England that he wanted to go some years ago, when he was sent to France. Nor is there any secret in the fact that Joseph Choate, the ambassador who is to retire, will regret his retire ment. He has enjoyed himself while there to the top bent of a man with far more than the average ability to have a good time. Also, he*has made himself more popular than any Amer ican representative there since the la mented James Russell Lowell. Much of Mr. Choate’s popularity abroad has been due to his speech-making and story telling powers. Unlike many who excel in forensic efforts he is a first after-dinner speaker of the typ ical American sort, and he cracks a Joke with the same facility that he denounces his opponent's client before a judge and Jury. Besides, though his wit and humor are of the distinctively American sort, which Englishmen sometimes either fall to comprehend altogether, or else do not see till some time next week, he always has managed to put his sharp sayings In such guise that the English never have failed to “catch on" promptly. Asa diplomatist Mr. Choate has been a success, though In one of his speeches, delivered at the Thanksgiv ing dinner held by the Americans in London In 1899, he talked a little too freely about the possibility of an An glo-American alliance to pleaae Secre tary Hay altogether. Mr. Choate was made a doctor of laws by Cambridge University the next year, and has had many other honors showered upon him by the British. Though some of these were due, no doubt, simply be cause he represents the republic, yet he has received many more evidences of consideration in England than would have been his were he not per sonally very popular. Whether he will re-engage In the practice of law after his return Is problematical. If he does a big prac tice will spring into being for him with mushroom growth, of course. He was counted “the leader of the New York bar” when he went abroad, and there will be no lack of eager clients for him if he wants them. When Mr. Choate was at the flood THE CABLE COMPANY, Largest Manufacturer of Pianos and Organs in the World. S. S. SOLLEE. Agent, 120 State Street, West. CUT THIS OUT This Is Good for $25 on the Purchase of a Piano. This Is good for $25 on the Purchase of a Piano. Mail Thl* to LUDDEN & BATES , SaYannah, Ga.; Tampa. Fla.; Valdosta, Ga. (Carter & Dorough); Tlfton, Go. (Carter & Dorough), or deliver It to one of our representatives, lUliiig In the following blanks: Name Address Date The Offer Is Good Up to December 1. tide as a practicing lawyer he did most of his work and study in a smallish room where he surrounded himself with the pictures and books which he liked best. There were four terracotta busts kept on the mantle—Emperor William I, Gen. Von Moltke, Prince Bismarck and the Emperor Frederick. There was also on the mantle a discrimi nating but small collection of beer mugs, while a big long-stemmed Ger man pipe, painted with a German country landscape, hung on the wall. Most of his books were naturally bound volumes, devoted to the law, ■but there were also a number of Howells novels, James Freeman Clarke’s "Common Sense in Religion,” Horaces’ Odes in Latin, “Gil Bias” in English, and the Noyes translation of the New Testament—rather a strange commingling. His pictures included himself, and one of John Jay bearing his autograph. Suspended on the wall, too, was a pair of well worn boxing gloves. Some of Mr. Choate’s stories have himself for their subject. Here is on*: In a certain case, in which he repre sented an insurance company, that charged the plaintiff with having set fire to his own store that he might collect the insurance, Mr. Choato made poor headway at first. The plaintiff was on the stand and Choate was trying to tangle him up, without avail. Suddenly one of the Jurors, a German, broke in with the question: "Veil, after you the store set fire to, didn't you run owd, hay?” Amid the laughter of everybody in the court room, except the judge, who had hard work to keep his face straight, the plaintiff stammered an admission. Choate followed this up vigorously, of course, and won the case. Afterward he shook hands with the jurvman. “How did you happen to ask that question?” he queried. “It enabled me to ivin the case.” "Huh!” responded the Juror, In dignantly. “You won dot case? I done dot meinself!” Choate's magnificent rhetoric Is at least partly due, beyond doubt, to his thorough knowledge of the Bible. Rufus Choate was the first great law yer of the family, and he often im pressed the nephew in the latter’s early years with the value of The Book as a reservoir of English pure and undefiled, as well as an epitome of ail true wisdom, both human and divine. Mr. Choate’s tribute to his uncle and to the Bible, In an address deliv ered Just 'before he was sent to Eng land as ambassador, is so fine that, like certain famous passages in one of Mr. Blaine's earlier speeches. It would stand the "school book” test, if it had the chance. Duane. Even if you should chance not to get your piano or your organ free, you will have the satisfaction of knowing that you have bought from the most reliable, the most progressive and the most famous music house in the South. Every instrument that goes from our stores is accompanied by the Ludden & Bates guaran tee. That’s as good as a certified check on the Bank of England. Ludden & Bates have done business for forty years, and no better guarantee of reliability can be offered. This is not the only inducement we offer you to buy now. If you buy before Dec. I the accompanying coupon, presented to us, is worth s2s' to you when you buy your piano. This Is Good for $25 on the Purchase of a Piano. STOCK MARKET BEGINNING TO SHOW SYMPTOMS OF INDIGESTION Nothing Serious, But Enough to Give the Speculative Stomach Periods of Disquiet. ' By W. G. NICHOLAS. New York, Nov. 26.—The stock mar ket is beginning to show frequent symptoms of indigestion—nothing ser ious like two years ago, but sufficient ly so to give the speculative stontfach periods of disquiet. For two weeks or more extensive profit taking has been going on and immense lines of securi ties bought by the banking Interests at lower figures have been unloaded on a Set of new buyers. These new buyers compose what Is called in the street "eleventh hour bulls.” A curious fatality impels many people filled with the gambling instinct to wait until a bull movement approaches maturity before taking hold, thereby losing their opportunity to make money and get ting into the swim Just in time to go through a sweat. Speculation in stocks as conducted by a very large element is inevitably a losing game because of a determined effort on the part of the pfayers to pay the highest pos sible prices for the goods they buy. In every other line of business the ef fort is to buy cheap and sell high. In stock gambling directly the reverse Is the rule of the multitude. The mob buyS at the top, stands a loss and then lets go. Aa Legitimate as Any Business. Stock speculation can be made as legitimate a business as merchandising or maufacturing and those who make It an occupation and study the game as they would any other business of tentimes reap splendid rewards. They cannot, however, make the tfamble in stocks incidental. To achieve success In that direction requires wide, general knowledge of business conditions and the effect of certain movements and currents in trade and finance, as well as the proper trading instinct. With out these success is Impossible and those who engage therein would save time and worry if they would take their money and throw it In the furnace or bury it. Outsiders, as a rule, have as little chance to win in the great game of stock speculation as a farmer has to best brace faro or loaded dice. Big Deala by Insiders. The dominating feature of the stock market for the last fortnight or more has been realizing sales by insiders who were shrewd enough to get pos session of the great accumulation of idle money In the New York bonks whin Interest rates were very low and with it buy stupendous lines of se curities, a performance which was fol lowed by manipulation on a grand scale and a sensational advance in prices. Now that Interest rates are hardening and other uses found for the Idle funds In bank this same group of insiders are standing from under. It la more than likely that a largs part of the manipulative advance in quotations will be held as business conditions and restored confidence warrant the Improvement. Experienced people In Wall street very generally anticipate some reaction, however, but not important. The public Is new edu cated to the current goats of quotations and sees no good reasons for marking down the prices of the goods. It is of common expectation that on any striking decline the inside or banking element will again come to the rescue of the market and prevent unnecessary sacrifice. They have vast ‘bond flotations in hand, and the pro cess of converting loans Into bonds and selling them to the public Is aa yet only partially finished. Less than a year ago more than 1500,000,000 in new Issues of bonds were in process of manufacture and scheduled for flota tion. Probably one-half of this amount lias already been absorbed by investors and the rest Is being worked oil rap idly and without a hitch. Several more months, however, will be required to finish the Job, and it is, therefore, assumed that no radical market dis turbance will be permitted In the near future. Wall Street and the Cotton Crop. Wall etreet takee Infinite satisfac tion in the latest estimates of the cot ton crop although publication of these estimates was attended by sharp de clines in the price of that staple. It Is of common belief that the cotton rais ers of the South are not heavy losers by reason of this price shrinkage, however, and that they were suffi ciently forehanded to sell their prop erty at good prices for future deliv ery. So far as can be learned the bull element In cotton has been wide ly scattered and there is no concen trated party to stand in the gap and suffer losses, such as fell on Sully and others of his kind who tried the im possible a few months ago. The best information which has come in from the South for weeks has been in support of the theory of a huge yield and large reserves likely to come into view later on. This has made experienced operators chary of bull commitments, however, much their inclinations might lead them to pull for higher prices. Cotton is tak ing on some of the features of a gravity market, a situation In which dead weight figures largely. Hie Campaign In Sled. The campaign In Steel stocks car ried “big Steel” to within 10 points of the highest quotations established at the bight of the boom two years ago. The figures ruling lately have been about the level at which the grand dis tribution of syndicate stock waa made by Mr. Keene and also' by the wisest of the Insiders In the trust organiza tion. Widows and orphans and milli ners and grocers and barbers do not appear this time aa buyers, aa they did before, and there seems to be no likelihood that they will. The great army of aemi-profeaelonala has taken the place of the "chicken feed" ele ment and "tin pall" Investors, as the little people are sometimes contemptu ously called by the smart boys down in ths Street. Among these semi-pro fessionals are great numbers of men actively engaged In ths Iron and steel business. These people are, as a rule, very bullish on trade conditions and can only aes one side to the market. Advaave la Indaalrlale. The advance In industrials has been marked by ths return to New York of hundreds snd theuaands of manufac turers who flocked her# three years ago, remained a year and then disap peared. They congested some of the big hotels and for many months the Waldorf-Astoria was a continual re union of iron and steel men who had sold out their plants to trusts and combines and move to the metropolis to spend their money and see high life. Times are now not so Joyous as they were formerly and the number of vis itors of this class is not large, but a goodly proportion of the original in vaders are back smiling and buoyant. They are not so prodigal in their ex penditures os before and freely con fess in most Instances they were trim med financially during the big slump In stocks. They are a game lot, how ever, and many are In a fair way to recoup their losses. “Cats and Dags” In the Street. "Cats and dogs” have been much In evidence in Wall street lately. The odds and ends have been footballed about the arena with great energy. It has becoma quite the habit for bob tailed pools to take hold of dormant stocks and run them up 6, 10 or 16 points, create speculate excitement In the stuff and then unload, leaving the burden on the latest arrivals. Many of these "cat# and dogs” are not worth the Ink and paper entering into their construction, but gullible people In great numbers are found who will pay good money for them. There seems to be no way of getting rid of these kind of securities ones they are distributed and they remain to afflict the market. They are only heard of in great bull campaigns when everything on the list moves up. For twenty-three months out of every twenty-four they are dead. Money Lenders Raising Rates. The money lenders are taking ad vantage of evetfy circumstance to raise their interest rates. Treasury withdrawals and gold shipments have been the main excuse lately for putting on the pressure, although much Is made of the argument that later on money will be verT much dearer by reason of an enlarged demand for It In the business expansion which every body seems to think will distinguish the coming year. Borrowers became so accustomed to 1 and 2 per cent, call money and 3 and 4 per cent, time money that anything above those fig ures creates excitement and spasms of alarm among speculators. The Leather filmic. The clique which Mbs been running a deal in Leather common is showing signs of fatigue. In putting the price up to sl6 over 300.000 shares were ac cumulated by the pool and the unpleas ant discovery is made that buyers are scarce. Once before young Mr John D. Rockefeller was caught with a hug* line of this stuff at the end of an un fortunate campaign. The same young man is supposed to be behind the pres ent movement, although he is not alone In the play this time, according to cur rent report. The Gaaaenheluis' Lead interests. The Ouggenhelms are energetically pushing the construction of their white lead works In Perth Amboy, N, J. and Granite City, 111., and wlli have them completed In a few months. When done these works will duplicate the capacity of the National Lead Com pany. The rivalry between these two concerns Is taking the form of a bit ter trade war and specialists in ths business look for a big stump In Lried shares. Negotiations for a merger be tween National Lead and United Btates lyead appear to be permanently off. al though the management of the Na tional sometime ago signified a willing ness to enter Into a combination on terms it had previously rejected. The Ouggenhelms, however, had In the meantime expended several hundred thousand dollars on their new works and refused tv pay head is evert urea. 7