Watson's weekly Jeffersonian. (Atlanta, Ga.) 1907-1907, August 22, 1907, Page PAGE FIVE, Image 5

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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. __ PAGE FIVE