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was kept secret until last Thursday.
The company was forced to the
wall by a claim of the McManus Kel
ly Company, of Toledo, 0., for only
$4,436. The company has plants at
Hartford, Thomson ville, Conn.;
Westfield, Mass.; Syracuse, N. Y.;
Hagerstown, Md.; Chicago, Toledo,
and Indianapolis. It owns the Cres
cent, Rambler and Imperial plants at
Chicago.
The petition states there is now
outstanding 100,000 shares of the
common stock, 23,009 shares of the
first preferred and 86,251 of the sec
ond preferred. The petition further
states that the total assets of the
Pope Manufacturing Co. amount to
$23,678,250. Os this sum $14,432,-
618 is credited to good will, trade
marks, etc., and $2,170,724 to plants.
The liabilities include the outstand
ing capital stock and its balance sheet
dated June 24, 1907, includes a de
ficit of $345,873, to strike a balance
with the total assets of $23,638,230.
The petition says that in the past
the Pope Manufacturing Company
has had a borrowing capacity of
about $1,000,000 annujjly but that it
has been unable to renew this in such
amounts as to enable the concern to
continue business. The Pope Manu
facturing Company has cash on hand
amounting to $25,394, and notes out
standing to the amount of $1,008,-
542. Against the latter item the Pope
Manufacturing Company has notes
receivable of $1,226,026.
Albert Rathbone, of Joline, Lar
kin & Rathbone, counsel for the re
ceiver, in explanation of the failure,
said: “The necessity for the pres
ent proceedings arises from the cur*
taihrent of credit, and from the re
<ction of loans on notes. In other
words, the receivership proceedings
are the direct outcome of the present
rigid money conditions. Loans were
falling due and the company was
unable to raise funds with which to
meet them, so that the placing of the
company in the hands of a receiver
seemed to be the only alternative
which would conserve the rights of
creditors.
44 We have every reason to believe
that the assets are worth many times
the amount of the liabilities if the
company continues as a going con
cern. We expect that such will be
the case.”
Arabs Defy Machine Guns.
Fanatical Arabs, riding superb
horses, swarmed around Casablanca
and incessantly swooped down on the
French forces camped outside the
town. Every charge was repulsed
with much bloodshed, yet the reckless
courage of the tribesmen was demon
strated by their constantly returning
to the onslaught in the face of a
withering fire of rifles and machine
guns. The Moors made a determined
attack last Thursday, but after a hard
struggle were driven back with great
loss. Undismayed, the Moors contin
ue to fight despite the terrible havoc
wrought in their ranks by the French
guns.
Col. Bell, Last Survivor of Confeder
ate Congress, Dead.
CoL Hiram P. Bell, the last surviv
or of the Confederate Congress, died
at Atlanta in his eighty-first year. He
had been a Colonel in the Confeder
ate army, a member of the secession
convention, a Congressman and a Rep
resentative and State Senator.
WATSON’S WEEKLY JEFFERSONIAN.
After the New York Central.
The N. Y. Public Service Commis
sion decided to investigate the subur
ban railroad service of the New York
Central Railroad. This action was
taken after the receipt of a com
plaint from the Civic League of The
Bronx that the company was not op
erating enough trains to accommo
date the local traffic of its lines. The
board will give a public hearing on
the matter in the City Hall, New
York City.
Alfonso Gives Ball for Japs.
King Alfonso, gave a ball in the
Miramir Palace at Madrid, Spain, in
honor of the officers of the Japanese
cruisers Tsukuba and Chitse which
are visiting the Spanish waters.
Harriman Must Show Cause.
An order was filed at New York
City in the United States Circuit
Court by District Attorney Stimson
on behalf of Attorney-General Bona
parte requiring Edward H. •Harri
man and Otto H. Kahn of Kuhn, Loeb
& Co., to appear before the Federal
court on October 21 next to show
cause why the petition of the Inter
state Commerce Commission should
not be granted calling on both men to
appear before it and answer the ques
tions which both had previously de
clined to answer, principally concern
ing the affairs of the Chicago and Al
ton Railroad.
The first question noted in the pe
tition which Mr. Harriman declined
to answer upon the advice of John
G. Milburn related to the purchase
of Chicago and Alton securities for
Union Pacific by Mr. Harriman and
the holdings of H. H. Rogers, H. C.
Frick and himself in the Sante Fe.
Mr. Harriman also refused to state
the connection of Kuhn, Loeb & Co.
with the latter transactions. As to
his previous interest in the Union Pa
cific’s Illinois Central holdings and
the profits therefrom he refused to
answer. He is credited with saying
that his only reason for refusing was
the advice of his counsel.
Taft’s Speech to Assail Trusts.
The Wall Street Journal printed
under a Columbus, 0., date line, what
purports to be a synopsis of Secre
tary of War Taft’s “keynote” ad
dress to the Buckeye Republican
Club of that city.
The synopsis published says that
Mr. Taft will “explain, defend and
unequivocally endorse every action
that has been taken by this Admin
istration toward the control and reg
ulation of railroad corporations and
trusts. ’ *
Continuing the Wall Street Journal
says:
“He thinks the rate bill does not
go far enough and will recommend
that it be amended so as to give the
commission power to classify mer
chandise for rate fixing; that in or
der to prevent over-capitalization no
railroad should be permitted to issue
stock or bonds without certification
from the commission that the pro
ceeds are to be devoted to a legiti
mate railroad purpose, such as bet
terments of roads and equipments,
and prohibiting from pur
chasing stock in competing lines.
He will favor ft revision of the tar
_iff after the next Presidential elec
tion, an inheritance tax and another
effort to have the Supreme Court de
clare an income tax constitutional.
“He will deny that Roosevelt is re
sponsible for the hostile attitude of
States for railroads or for the pres
ent slump in Wall street, and will
charge that the railroads brought it
on themselves as retaliation for
their former illegal practices.”
Detective Pinkerton Dead.
Robert A. Pinkerton, head of the
Pinkerton Detective Agency, died at
sea aboard the steamer Bremen Aug.
12. He was on his way to Germany
in the hope of benefiting his health.
He had been ailing for some months.
Robert A. Pinkerton was regarded
as perhaps the‘greatest thief-catcher
in the world. He came by his detect
ive instinct naturally. He was the
eldest son of old Allan Pinkerton,
founder of the Pinkerton Agency,
and famous as the man who in the
early days of the civil war thwarted,
single-handed, the first plot to mur
der President Lincoln.
When Allan Pinkerton died he left
his business and the bulk of his mon
ey to his two boys, “Bob,” and
4 4 Billy. ’ ’ Bob assumed charge of the
Eastern district, with headquarters
at No. 57 Broadway, New York. “Bil
ly” has always lived in the West and
Chicago, and looked after the West
ern territory.
Together the brothers expanded the
business to bounds of which their
canny Scotch father never dreamed.
They organized and controlled an
army of men who are used in defend
ing property during strikes and la
bor wars, who have surrounded banks
and large financial concerns with a
system of guardianship which has
made a lost art of expert safe blow
ing, and who protect all the big race
tracks from pickpockets and- pool
room sharps. G. N.
THINGS WE WOULD LIKE TO
KNOW.
As the time of Prohibition in Geor
gia approaches, many seem to be trou«
bled with a great and consuming
thirst for booze. In like manner, in
view of the uncertainty of our in
formation in regard to some recent
happenings, many of us have a thirst
for knowledge, real, sure enough
knowledge, and* here are some of the
things we would like to know:
1. When Mr. Rockefeller of the
Standard Oil Company said, “1 am
harnessed to a cart in which the peo
ple ride,” whether or not he did not
mean to say that it was a horseback
fide he was taking on the backs of
the dear people? Instead of a spike
team, composed of the Standard Oil
Trust, the R. R. Trust, and the Tar
iff manufacturing Trusts, attached to
a go-cart hauling the dear people ov
er rough ways to the stars, would it
not be more appropriate to locate
the Trust magnates on the backs of
the people with a score or more of
pilfering hands in the pockets of ev
ery man, woman and child in the
country? The great masses of the
people feel that this is the proper fig
ure to illustrate the ride that Jyo.
D. is giving the people of America,
of America.
2. We would like to know,.when
Mr. Rockefeller said in connection
with his “harnessed to a cart” con
ception of his relationship to the peo
ple, that 44 whether I like it or not,
I must work for the rest,” if he real
ly meant that he loved the dear peo
ple so much that he was just natu-
rally obliged to work for them, even
though he would have preferred to
work for himself? And if the dark
lantern methods he adopted to crush
out all competition in the oil business
by the secret rebate and commercial
thugism, furnish the evidence of
that great love for the dear people
whom he is giving a cart ride at so
much inconvenience to himself?
3. We would also like to know
when he said, 4 4 Sometime, I believe
the people will be convinced that
they” (“the big men of the indus
trial world of today”) “are toil
ing for love of country,” it*this love
of country on his part is manifested
when he sells his oil to his own peo
ple and country at a much higher
price than he sells it in foreign coun
tries and to foreign people after pay
ing the freight across the ocean? We
suffer from too much love. We had
rather be loved less, and get our oil
as cheap as the foreigners do.
4. We would like to know if the
oil produced and refined, according
to the Knox-Smith report, the lat
est, at less than one cent per gallon,
and sold to the dear people of his
loved country at ten to fifteen cents
per gallon, is proof positive of his
disinterested benevolence in giving
the people that cart ride over the
rough ways? and if he had been sell
ing it at a few hundred per cent less
profit than he has, it would not have
made the way smoother for the peo
ple he was giving a pleasant trip,
and saved them many a jolt on the
way?
5. We would like to know also
when, in his statement, he suggested
that he could have turned his wealth
into gold, and gone across the wa
ters to England or to some other
pleasant country, but that Yankee
Doodle was his favorite music, and
he loved home and country too well
to leave it, if the tax on incomes in
these pleasant countries of the old
world, and the absence of an income
tax in this country, had anything to
do with his lack of desire to emigrate
to fairer climes? and if this love of
Yankee Doodle music by John - D.
Rockefeller, like the great flag cam
paign of Mark Hanna, does not il
lustrate the truth of that old saying,
that 4 4 Patriotism is the last refuge
of a scoundrel”?
We have a consuming thirst for
knowledge on these topics, as well
as on many others.
JEFFERSONIAN DEMOCRAT.
ONE WHO HAS ALWAYS KNOWN
MR. WATSON.
Bishop .Warren A. Candler and
the brilliant Thos. E. Watson are
having a controversy, the contention
apparently growing out of the bish
op’s charge of insincerity on the part
of Mr. Watson in the old time prohi
bition campaign in McDuffie county.
The reverend gentleman is in our
opinion on the wrong track. As a
boy, it was our pleasure to be pres
ent and witness the attitude of both
Bishop Candler and Mr. Watson
and we can vouch in a great measure
for the entire correctness of Mr. Wat
son’s experiences as detailed in his
recent newspaper articles. Knowing
Mr. Watson from infancy, we unhesi
tatingly say that he is the very high
est type of sincerity and we have
yet to find one iota of proof to the
contrary.—The Byron County (Ga.)
Enterprise. __
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