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! I KARSTS SUNDAY A.NJKRH'AN V'PLANT A. ,A.. SUNDAY. DK( 'EM HER
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'News and Views by Experts of Finance, Industry, Crops and Commerce
German Potash Trust Ifllf OPPOSES REYNOLDS SEES
Hopelessly Smashed (, |J|S guy H GBODHEASOHITO
INSMBDNDS"
Constitution Now Provides for
Taxes With Which to Retire
Them Serially.
ovcrmiH'iit > Attempt to Monopolize Wor
K(‘ft ilizer Supply Fails ('ompletely.
By BOERSIANER
B/ BOERSIANER
IK AG< >, I)i‘< hi. The pota
>poly is hopelessly and belplen
i.si nlcgratcd. At a meeting
Jerman pota ah syndicate held
ead
cure
the
that after levy
article provides
requiring the
omputation
NEW YORK. Dec. 6—In
following the time honored pra
of authorizing State Legislature
levy sufficient taxes year by year
new Louisiana Constitution actually
levies these taxes, naming a fixed
rate which the officials say will he
sufficient to pay the serial bonds lo
be issued in December as they fall
due in from one to fifty years, as well
as th semi-annual installments of in
terest. ^
This appears to be a new form oi
State financing which has developed
as a result of the necessity to make
ample provision for the payment >f
maturing principal and interest >f
the new bonds to be offered and thus
allay doubt in the minds of investors.
Has No Discretion.
The Legislature is given no discre
tion in the matter, according to
Caldwell, Masslick & Reed, attorn
of this city, who way
mg the tax the same
for emergencies b>
State Auditor to mak
each year of the amount vwiich can
be realized by the levy of the fixed
rate. If that amount i* not sufficient,
due to reduction of the assessed val
uation or other causes not now fore
seen, the Auditor is required to com
pute a new rate that will be sufficient
and extend it upon the tax rolls f«»r
collection as other State taxes are col
lected. States are immune from suit,
hot their officers are subject to writs
of mandamus to compel the perform
ance of specific duties, and this pro
vision for automatic extension of the
rate of the tax is one that the bond
holders can enforce by mandamus.
Fail* to Pay Bonds.
A few months ago the attention of
investors was called to th*• default **f
the city of Atchison. Kans., in • u
payment of maturing bonds, no sink
ing fund having been provided, und
the city being determined to compel
its creditors to accept new bonds ar
a rate of interest lower than the
market rate. The courts promptly
gave relief, although they gave the
city a few' years in which to make up
the default.
The Atchison case gave impetus to
a movement that had been going for
ward among investors for some years.
10 induce municipalities * pay the r
bonds serially, instead,of at one time
Fn the distant future. The Invest
ment Bankers’ Association of America
has been urging the adoption of a
policy of public debt which should
provide for its retirement gradual!v,
practically doing away with the <»M
theory of sinking funds and using h-
taxes for the payment of maturing
bonds each year.
More Cities Adopt Plan.
A great many municipalities have
adopted the new plan, and a notjible
case is that of Seattle, which a few
months ago issued one to five-year
serial bonds to the amount of $1,009.-
000 to pay a debt falling due, al
though the first ordinance 'for the
payment of the debt provided for
twenty-year bonds The adoption of
this policy by the State of Louisiana
will go n long way in inspiring the
confidence of investors, and is lik< 1y
to prove a model in State financial
legislation, both in its plan for grad
ual retirement, of the State debt and
its provisions for actually guarnnte -
ing the payments.
Berlin the other <
purposes were a ban
urea adopted in an
vent utter demora
trade.
This is the miser;
hype
Tl
vivid in
interested
ternationa.1
ises on the
i Jovernment
risy.
antecedent;
in the min
ay monopolistic
loned and meas-
attempt to pre-
lization of the
hie end of false
ti of the Prus-
id of diplomatic
should still be
of all who are
fertilization and in in-
liplomacv. Some inde
pendent potash mine owners had
contracted to deliver a large amount
of the commodity to American con
sumers. chiefly to the Virglnia-
Oarolina Chemical Company and t<»
another agricultural fertilizer con
cern, The Prussian Government in
tervened. It ffretended not to pro
test against the price, but against the
amount that was to he exported to
lone country “which endangered the
world's supply.”
So far as was then (and is yet)
known, potash mines are confined to
Germany and potash is a necessary
ingredient in agricultural fertiliza
tion.
professed to be so-
wnrld’s welfare In
diould be permitted
•rmany more of the
bso-
Pot-
J Pl«
The Prussians
Heltons of the
that no country
to take out of G
essential ingredient than was
lately Imperative to its needs.
Great Britain Takes
Oil Fields in Turkey
Special Cable to The American.
LONDON. Deo 6. Although English
interests failed to obtain oil fields in
Colombia. Great Britain will get impor
tant concessions tinder a new treaty
with Turkey shortly to he signed.
According to the correspondent of The
Daily Telegraph, at Constantinople, the
clauses Include a grant to Great Britain
of all oil wells in Arabia. Mesapotamia
and perhaps Syria
The supplies will be used for the Brit
ish navy, which in future will he largely
propelled by oil.
The concession is a sequel to First
lx*rd of the Admiralty Winston
ClmrcfiIll’s recent utterances regarding
the importance of the navy’s possessions
of a good supply of oil
Here's One Man Made
Richer by Income Tax
NEW YORK. Dee 6 Strang, to say.
passage of the Income Tax law will
increase, and not decrease the income
of at least one lu< k> person in this
country Me is W D Morgan, a hank
cashier, of .Hartford. Conn., who has
prepared and patented a special form
of certificate to he used in the collec
tion of interest coupons.
\ large number of hanks, including
several big institutions in this city,
amorg them the Irving National
Bank, have placed orders for thou
sands of the certificates.
It is estimated that Mr Morgan will
reap a small fortune.
ash was peculiarly precious. It must
he jealously preserved.
American contractors did not ac
cept the Prussian Government’s pro
testations and insisted that the in
dependent producers he permitted to
fulfill their contracts. The matter
finally received the attention of the
Department of State in Washington,
which Instructed the American Am
bassador to investigate the question.
Supplies Limitless.
Investigation proved the Prussian
Government was seven-tenths owner
of the largest potash mine in Prus
sia: that it was trying to effect a
monopoly: that mines were being-
discovered in other parts of Ger
man.'': that o?ie newly discovered
mine in Alsace also contained
enough potash alone to supply the
| world for a century.
The discoveries were fiercely re
sented not only by the Prussian, but
by the Imperial Chancellery in Ber
lin The integrity and veracity of
the American Ambassador were im
pugned with plausible indignation.
I»i a moment .f confusion and ti
midity in Washington the American
representative in Germany was on
the point of being recalled. He prob
ably had lost his post but for the
courageous stand taken by n number
of Berlin correspondents of foreign
newspapers who confirmed th* Am
bassador's findings.
The “prevention of a wasteful use
of national resources’* was in es-
senre an attempt to monopolize the
industry in every respect in limit
ing output and in fixing prices. The
Prussians thought to hold the uni
verse by the tail. They went so far
as to induce the Berlin office to try
for a ‘heavy dutv on exnorts.
Seventy Square Mile?.
Sim e then the deposits In Alsace
have been further explored and have
been shown to he enormously grea,
and rich. The field has been proved
by borings to extend to about 77
equate miles of continuous deposits
The first mine began production
Here last year and since then ten
others have begun producing or have
received allotments in tbs syndicate
More recently deposits have been
found in Baden, between the Itiiim
am] the Black Forest, evidently a
coninuation of those in Alsace. Mean
while, new mines have been opened
up very rapidly by the older dis
tricts around the ilartz Mountains.
The tirst mines opened there lay in
the plains to the east of the inoitn-
| tains: later on deposits were struck
j to the north and then to the south
of them: and still later the district
! has been greatly extended toward the
j northwest Into the Province of Han
over and to tlie south into Thuringia,
i It is thus a case of embarrassment
of riches with which the potash pc
have to deal.
Propose Drastic Remedy.
The Prussian 'preventive'' bill
proposed a Draconic remedy for the
excessive increase of mines; no new
ones were to be allowed to begin
production during a period of twenty
years. This proposal was naturally
objected to by all narties Interested
in undeveloped properties and among
the objectors were several of the
German States themselves. which
have become Interested In potash
mines, or which hoped that discov
eries of the valuable would be
made within their borders.
► The Prussian bill was accordingly
modified in Its most essential fea
tures bv the Federal Council and as
enacted it provided that all mines be
gun up to a certain date should re
ceive production quotas for imme
diate use, but after that date a period
of five years should elapse, after get
ting a quota,- before the mine In
question might begin production.
The law also made It possible for
| existing mines to buy up the quo-
I tas assigned to new ones and lo pro-
j duce the corresponding quantities at
j their old shafts. No mine was al
lowed to sell Its own product*, all
sales had to be made by a central
selling agency. Thus, while the law
did -not specifically provide for a
syndicate it practically necessitated
the continuation of the old syndicate.
The price at which potash might be
sold was also specifically stated in
the law. with a provision for changes
j from time to time by a government
board that has charge of the ad
ministration of the law.
Result Unsatisfactory.
The result of the law has been em-
mlnently unsatisfactory. Instead of
checking, the establishment of new
mines, it has proved a strong stimu
lus to the exportation of undeveloped
properties. This was only a natural
result, inasmuch ns the law guar
anteed production quotas to all new
coiners and fixed prices far above the
necessary costs of production, with a
reasonable pereenta n "' of profit. The
new mines, too, were sure to find
ready buyers of their quotas. In case
the latter should turn out to be too
small to justify them in erecting
operating plants and exploiting their
mines upon their own account.
Now the leaders of the potash in
dustry are complaining that the law
merely placed a premium upon the
organization of new potash companies
and that demoralization has ensued.
GOVERNMENT
Atchison President Believes There
Would Be Too Much Politics
Under New Plan.
President of the Great Chicago
Bank Expects Better Business
in January.
NEW YORK. Dec. 6. Iv IV Ripley,
president of the Atchison. Topeka and
Santa Ke Railroad, took a violent ex
ception to the statement made re
cently by Clifford Thorne, chairman
of the Railroad Commission of Iowa,
before the National Association of
Railroad Commissioners, that under
Government ownership of railways in
tiie United States the capital em
ployed could be obtained at an an
nual saving of $464,000,000. Aftei
showing the Iowan errors in his fig
ures regarding interest and dividends
now paid by the railways of $211,000,-
000 a year, Mr. Ripley entered upon a
discussion of the possibilities of rail
ways under Government ownership.
Opposed to Plan.
“1 do not oppose this policy as a
railway officer,” he says in a letter to
Mr. Thorne. “The Government could
not acquire the railways without pay
ing just compensation for them The
roads are now being so regulated that
the security owners are not receiving
an adequate return, and if they could
get their money out they could invest
it where it would earn a larger re
turn. Therefore, Government owner
ship might be a blessing to the own
ers of railway securities
“While 1 do not oppose Government
ownership as a railway officer, I do
oppose it as a citizen, because I be
lieve that under our form of govern
ment and political conditions it would
be the greatest calamity that could
possibly befall the American people.
Can’t Keep Out Politics.
“But upon what conceivable ground
can anyone assume that polities
would be kept out of the management
of State railw ays in t ;u%< ountry 7 It
is not now kept out of the manage
ment. of the State railways of any
country, with the possible exceptions
of Prussia and Japan. Furthermore,
politics Is not now kept out of any
thing done by our own Governments.
Since we can not keep politics out of
our river and harbor improvements,
or out of our appropriations for pub
lic buildings, or even out of our legis
lation regarding the location and
maintenance of army posts and naval
stations, how can it be rationally as
sumed that we could keep it out of a
State railway system employing 1,-
700,000 citizens and voters?
CIIK AG<
I>
In the vi
George M. Reynolds, president of the
Continental and Commercial National
I Bank. January will mark a definite
j'urn for betterment in the business
situa tion.
Mr Reynolds predicates his opinion
| »n ttie condition and business# of the
institution of which he is the head.
"Our deposits to-dav are $9,000,000
higher than they were on the corre-
j sponding days a year ago. Our cash
. means are ampler and our general re
sources stronger. And though *he
country banks owe us some $25,000.-
000, payments are prompt enough to
make us feel comfortable.
“The atmosphere has been gloom}'.
Pessimism still is the keynote in the
street. It might, therefore, sound ul-
traoourageous to predict confidently a
decided improvement after the turn
of the year, but one must refuse to
be affected by the feelins and senti
ment!- of the financial district and
take for safe)' indications the charac
ter ot the business we are doing in
this bank.
South Among the Leaner*.
"Of course, some sections are still
leaning heavily upon our shoulders.
Tin* South, for instance, where bor
rowings were largely based upon a
cotton crop whose bountifulness was
diminished by the floods. Not a few
enterprises that were flourishing six
months ago require renewed credits.
These are all perfectly good, as are
the loans made by Southerners.
“It Is merely a question of carrying
such people longer than we had fig
ured on. Even so. the general collec
tions elsewhere more than compen
sate for the tardiness in the quarters
mentioned.
"And as we gradually adjust our
selves to Pie tariff you will find that
business w ill look up again.
Currency Reform Nearer.
“I am forgetting the currency ques
tion. The differences between the ad
ministration and thv bankers arc not
many and not now exceptionally vital.
“To be sure, bankers can not yield
the points of being forced into an
investment and of investment without
representation.
“We are willing to waive features
whiedi we deem unwise and compro
mise on clauses that we consider in
imical to the welfare of banking sci
ence, but upoi the two questions I
have just stated we must be firm. I
have greatsjtopes that these essentials
will be recognized.’’
The
ATLANTA 3
NIGHTS
COMMENCING
MONDAY
Costs Less to Make Bay State to Enforce
Than Buy Powder
WASHINGTON, Dec 6.—Figures
showing that the Government can save
20 lo 50 per cent on contracts for army
materials if it makes them itself were
made public recently by Representative
cnyoe Travenner, of Illinois. The fig
ures were obtained from the Fran Il
ford arsenal, Philadelphia.
On orders placed with the Frank ford
arsenal between .Inly 1, 1912. and April
25. 1913. amounting to *1.900,064, the
Government saved $970,841.
On an order for $800,120 artillery am
munition now being manufactured b>
private concerns, the Government could
have saved $31,215 if it had given the
order to the arsenal.
The Government pays higher wages,
works Its men eight instead of nine and
ten hours a day. and pays for fifteen
days’ annual leave of absence, seven na
tional holidays ami thirteen Saturday
afternoons during the summer.
Mr. Travenner points out that if the
manufacturing were to he done at the
arsenal at Rock Island. II. . where the
Government has a power plant in the
Mississippi, an even greater saving
could be made
Lumber Produced iu
1909 Worth Billion
WASHINGTON'. Dec. 6. Lumber
ranked third in value in Flitted States
products in 1909. the Census Bureau re
ported to-day. There were 44.804 estab
lishments in tire business, with a total
capital of $1,182,330,552 They em
ployed 797,S25 persons. who received
$367.863,055 in salaries and wages.
The products totaled $1,160,644,628
!£. In addition lumber and Its
lementury products to the value
7.950 were reported l»y establlsh-
engujfed primarily in the inanu-
of other products, chiefly furnl-
efrigerators. fancy and paper
and pianos, organs ami mate-'
in vali
41,774 Women Share
In Pennsy Dividend : y
(Sugar Trust Suits
' Total $29,000,000
NEW YORK, Dei
Vania Railroad \ ester
• .end checks to 86,866
largest number to w hi
ever paid (>f the
people that receive tl
more than 46 per cen
Tl ere
J The Pennsy 1-
lay mailed divi-
shareholders. the
h a dividend has I
otal number of {
» checks 41,774-- j
are women j
women- j
Wi
fif 1
ver
Pennsyivania Kailrv
than there were a year ago. Th
age number of shales held by one stock- J Ftq
holder is 114. an average decrease of j fet
six shares per bolder in the past nine i urn
month*. I pro
< ; I T
Weyerhauser Forms T
$7,000.000 Lumber Co.
i
hstpict
etining
in civil
« American
is made de-
prosecutions
damages ap-
oinsiana
manufact
erican Su
am
a*
I
New Publicity Edict
BOSTON. MASS.. Dec. 6.—Quarterly
statements showing the amounts paid
to attorneys, legislative agents, news-
paper writers and advertising agen
cies must bo submitted to the Public
Service Commission by all corporations
under its jurisdictions.
An order to this effect was adopted
at an executive session of the commis
sion to-day.
More than 150 corporations are af
fected. including all steam ami elec-
trie railways, telephone and telegraph
companies.
The order, effective from October 1,
was prompted by an investigation now
being made b\ the commission of the
payment by the New Haven Railroad
of a large sum appearing under the
caption, “Other expenses.’’ if) a recent
statement of expenditures.
Russia iu Need of Cash
And Is Applying Here
Special Cable to The American.
ST. PETER8BFRG, Dec. 6.—General!
weakness on the St. Petersburg Stock
Exchange occasions must comment. It |
was stated here that the Government i
Intends curtailing the credit of several ■
banking houses accused of having fa
vored extensive speculation; but the real j
cause is uneasiness due to unfavorable
rumors concerning the recent visit of
Premier Kokowtsoff to Berlin and
Paris. „
It seems his mission was not nearly
so successful as reported and the fact
is that foreign markets are not in
clined to open their pursestrings to Rus
sia.
It was stated that Kokowtsoff is mak
ing overtures to a number of Ameri
can haruvs ior a loan which is required
for the extension of railways and the
construction of new ones.
Raw Wool Now Free:
Bond Goods Released
Washington. i»e« «> Raw wool!
went on the free list Monday under the
provisions of the new tariff act. Wool
held in bonded warehouses awaiting ad
e« of d • • In New York alone
is estimated at $1,000,000.
Philadelphia manufacturers withdrew i
more than 8.1*00.000 pounds of raw wool i
from bonded warehouses t it is week, ac !
cording to estimates of customs bouse J
officials. Mtst <»f the wool came from
N» w Zealand. England ar.d Ireland. Be !
lore the withdrawals began it was j
Mated the warehouses contained about j
• 000 pounds.
Providence. 1.300.000 pounds of w ool j
were withdraw!) from bond.
SPECIAL MATINEE WEDNESDAY
KLAW & ERLANGER Present
Si ROBERT
HilliarD
ASCHF. KAYTON. Who Solves the Mystery
*#i“THE ARGYLE CASE”
•*.» HARRIET FORI) AM) HARVEA .1.
O'HItitil.XS, in «'<»llnlioratlou will* the fa
mous detective. WILLI \ M .1. BV’RYA.
PHILADELPHIA COMMENTS 1.4 NT WEEK:
“Best thing Hilliard has done."— Prem*.
"REAL Defective Play." Telegraph. “Tense.
Ingenious. Inquirer. “Excellent Acting.’’—
North American. “Fine Climaxes." Record.
“Sparkling Cornedv.’ Bulletin. "Best Detec
tive Play Yet."—Ledger.
The Dictograph—The Finger Print Proeenn—Original New \ ork Cant.
. KVEMM.S—25e. 50e. 7Se. Hi. *1.50 and 82.
- WEDNFHD W M 4 TI N' KK—25c to *1.50.
Thursday, Friday, Saturday
MATINEE
SATURDAY
Seat Saie Monday 9 a. m.
THE FINEST CaST EVER ASSEP.tBLED IN THE
BIGGEST PLAY OF THE CENTURY
H. H. FRAZKE Present*
I
ROBERT
EDESON
ROSE
C03HLAN
WILTON
LACKAYE
Kl’C.KA K WAI.TKKA l (KAMA'l'H HARTKKPI K< K
LOUT*
ROBERTSON
nr. AX
FIGMAN
*sr. y
LVOI*
DICKSON
in liic Fidled Xi
RIDLEY A JAMES
AUDITORS
ATLANTA - GEORGIA
The orlftnal feoductlon. FHreet frmm m tpRBen'a rne a* the 4«*+*r
T Heater. Nfw \ orh. and the ( or* TNeeter < b<«*ftge
NIGHTS. 25c. 50c. 75c. $1. $1.50. $2.
MATINEE. 25c. 50c. 75c. $1. $1.50.
'Rival' Tobacco Firms
One, Witness Asserts
Evidence in a Kentucky Case Links
the American and Imperial
Companies.
MOKGAXWELD, KV . Dec 6 Kvi-
[ dencc presented to-day by the Common-
| wealth was considered as pointing to
I community interests between the Im
perial Tobacco Company and the Ameri-
j ran Tobacco Company.
Henry P. Barrett, a millionaire to-
| bacco dealer, testified he formerly was a
buyer for the American Tobacco Com
pany and exhibited cans of smoking to
bacco Which he said are manufactured
by the Imperial, but put upon the inai
ket bv both the Imperial and American
companies.
He swore that upon one occasion after
buying a quantity of tobacco for the
American he went to Europe and found
tlie same tobacco in the warehouses of
the imperial.
McAdoo Chides Banks
For Curtailing Credit
WASHINGTON, Dec. 6. —Following
complaints from business men that
banks were restricting credits on com
mercial paper to meet expected pro
visions of the new* currency law . .Secre
tary McAdoo assured bankers the Gov
ernment contemplated no regulations
which would in any way interfere with
the business of the country*
The Secretary further slated the
Treasury Department had large avail
able resources, which it would not hesi
tate to use to aid banks to comply with
the law.
A letter from a note broker from
Ohio alleged that largo banks had ad
vised their correspondents to “make
themselves just as liquid as passible and
stay so, in order to meet the require
ments of the new bill.’* These banks
said the note brokers have noi been
buying any paper since March and busi
ness “is at a standstill.”
Immense Holding Co,
For Gen'l Petroleum
NEW YORK, Dec. 6.—Members of the
English syndicate which secured control
of the General Petroleum Company w ill
incorporate a new holding company, to
be known as the General Petroleum.
Ltd., registered in England with ordi
nary share capitalization not exceeding
$25,000,000.
The syndicate purposes issuing $10.-
000.000 of this ordinary stock for the
$35,000,000 common shares of the Gen
eral Petroleum Company.
No authorized amount of preference
stock for the new' concern has been set.
but it is planned to Issue $15,000,000 in
exchange for the $15,000,000 General Pe
troleum 6 per cent bonds.
MANILA ROAD EXTENDED.
SAN FRANCISCO. Dec*. 6.—At
present there are 3.500 men constant
ly being employed on the construc
tion work on the Baguio branch of
the Manila Railroad. This has pro
gressed so far that the passengei
equipment lias been ordered and is
expected to arrive in Manila during
the latter part of 1914.
TIFF HIS IDT IF Rill Eitt
'Downward Tendency” of Food
Will Not Be Material. Asserts
Minnesota Economist.
ST. PAUL, Dec. 6.—While there
will be a downward .tendency in some
food articles under the new tariff,
that tendency will not he strong
enough to lessen materially the cost
of living, in the opinion of Dr. E. V.
Robinson, Professor of Economics at
the University of Minnesota.
“By no means is it to be regarded
ag a *‘cure all,’” said the economist:
“nor is it either a 'free trade tariff
or a ‘tariff for revenue only.'
“Taken as a whole, it ig a ‘pro
tective tariff,' with a larger free list
and a lower range of duties than the
protective tariff of the Republicans."
On this latter point Dr. Robinson
amplified his views, as follows:
“In order to get away from the
protective basis, it would be neces
sary to levy import duties only on
goods, such ag coffee, which are not
produced at home; or. if any sucii
goods are produced at home, then
to subject them to an internal rev
enue tax exactly equal to the duty
paid by similar imported goods. In
this way trade would be left free
to take its natural course, and the
government would get the entire tax
paid by the consumer. Such a tar
iff would be a free trade tariff, and
likewise a tariff for revenue* only,
which are one and the same thing.
“The new tariff, then, is a protec
tive tariff: which means that if 90
per cent of the consumption of any
article is met by the domestic pro
duction, only one-tenth being im
ported, then 90 per cent of the tax
paid by the consumer accrues to do
mestic producers and only 10 per cent
to the government. The amount of
revenue secured by the government
through a protective tariff is thus no
measure at all of the burden which
it imposes upon the community. On
the contrary, revenue and protection
vary inversely to each other.
“This being the case, the new tariff
can not be expected to make any
radical changes in the cost of living,
for the simple reason that the tariff
itself is foo nearly like those which
have preceded it. Nevertheless, it
does mark the first serious attempt
in two generations to revise the tariff
downward.
“How this will be regarded will de
pend, of course, on whether a man
approaches tlir question from the side
of the consumer or the producer." i
Frisco Head Tells Commerce
Board of His Plan to Build
Road to Panama.
I
S*T Ltms, Dec. 6.—B. F. Yoi-
turn's dream of a railroad empire was
the climax at the hearing before rh*
Interstate Commerce Commission hr re
when he was being interrogated con
cerning txi* receivership of the Frisco.
Tiie heal-Jng was closing when Mr*
Yoakum l>**gan to tell one of the
greatest railroad projects ever con
ceived and which only the trouble
in Mexico prevented from materiallz.
ing, he said.
This, in substance, was a water-
grade line fiom St. Louis to Colon, on
the Panama Canal, a line with such
imperceptible grades that trains car
rying a tonnage as great as any o?
the steamships leaving New Orleans
could move over them easily and
swiftly. N
Mr. Yoakum explained step bv steu
how the Frisco, with the Mexican
National Railway, had built a bridge
across the Rio Grande at Brownsville,
connecting that point with the Mexi
can ^National, and of the survey south
from that point to Tampico, and of
the proposition that Secretary of Stain
Limantour of Mexico had agreed i >
by w hich the Mexico National was to
build a line from Honey to Tuxpam
and the Yoakum line to be continued
to Colon, almost due south, tapping
the resources of seven republics and
reducing the mileage more than -‘U'>
miles to the City of Mexico, tapping
the great oil fields of Tampico and tb*
tropica! products of the country south
of it. bringing tne tonnage through
the Mississippi Valley economically
and in vast quantities.
He also told of finding the stakes
which were laid 40 years ago by a
survey under A. J. Cassatt, late pres
ident of the Pennsylvania Railroad
Company, for a line along the ron f e
Mr. Yoakum proposed, and the ex
pense of which survey was borne bv
the United States Goyernment and
the republic of Mexico.
Mr. Yoakum stated if this line had
been built and allowed to cominuo
the prosperity of the Frisco property
would have been unequaled. Only the
war stopped the project.
ILLINOIS APPRAISES LINES.
CHICAGO. Dec. 6.—A report issued
by the Illinois State Board of Equal
ization shows that the valuation of
steam railway property in that State
for 1913 is $550,381,417, an increase
of S23.7S1.501 over last year.
—
DEC. 8
jfitbur Car
Sawdusts
G ASOLINE costs more and more
every day, with no prospect of
relief in sight. You would pro
bably be glad to operate your car
on anything, provided the cost was
reasonable. There is no doubt about
the cheapness of sawdust, but you
are inclined to question its practical
value as a motor fuel.
Henry Smith William has an
article in December MoToR that
points out the unlimited possibilities
a hitherto neglected power medium.
Internal combustion engines do not
depend completely on gasoline.
Alcohol or benzol may be made to
produce the same results. And a
billion and a half gallons of these
potential fuels are being wasted in
this country every year!
The “How" and the “Why” are
of the utmost importance to the
motorist of today. Get Dr.William’s
comprehensive article. December
MoT oR is now on sale
At Any Newsstand