W; yvif
12
.the, pittsburg' dispatch, PRnrAY, November aT i89r
LAURA HILL IS FBEE.
Judge Ewing Grants Her Liberty
Because of Her Testimony
IN THE TRIAL OP FITZSIMMONS.
The
npreme Justices Trcilare
Up Their Work Here.
to Wind
SrOKES-FPOil THE WHEEL Or JUSTICE
Laura Hill, the accomplice of Fred C
Fnzsimmoas, is a free woman again. Her
valuable testimony in theFitzsimnions trial
was responsible for licr 1 cleave. Since
March last she has been au inmate of the
county jail awaiting trial as accessory to
the robbery of Schmidt's jewelry store at
Homestead. Her cas-e came up in Criminal
Court ctcrday, and the interest in the
i.iuions case brought a lanje crowd of peo
ple to the court room. 11 tr appearance has
been little changed by lon; imprisonment.
"When the case opened Mrs. Hill pleaded
puilty. District Attorney Burleigh then
asked lite Court to suspend sentence ou her.
The defendant, he said, had proven a valu
able witness in the Fitzsimmons case. She
had told all she knew about the robbery and
jjave testimony which could not have been
secured from any other person. She had
made no effort to conceal her guilt, and had
'cn admitted it- But owing to the valuable
aid the had gien the Commonwealth she
thould not be sentenced. Judge Ewing
said:
"At the request of the District Attorney
and with the full approval of the Court,
t-cirtence is suspended in this case. It is
understood that it was the desire of the
late District Attorney Johnston that-this
course should be pursued,and there being no
other charges against the defendant she is
released."
There was a murmur of approval in the
cro-vd outside the rail as the Judije con
cluded, and all ejes w ere turned toward
I-auraHiH. irlie hesitated a moment, then
roe and faced the Court and said:
'I thank Your Honor and the District
Attorney."
"With that she turnid and left the court
room, and the crowd stood aside to let the
woman past Who had fisured so prominent
ly in one ot the most sensational trials ever
belore a court of Allegheny county. She
walked quietlv out of the Court House into
the street, where she had not been for so
Ion?, and disappeared in the crowds.
Fred Fitzsimmons, the central figure in
the story, has baffled his guardians and
lound freedom by his own darins and
shrewdness Mr. and Mrs. Clark are behind
the bars at l!ierside, Cora AVyatt has
jirocnher iuuoceuce and now the curtain
talis ou the last act a: Laura Hill thanks
the Court and is free.
PEEPABIKG TO QUIT.
All Itcmsiniiig Supreme Court Cases Will
e Called To-Day.
The Supreme Court will likely conclude
its session for this district inhe carlv part
of licit week. All remaining cases on the
general argument INt for Allegheny county
will appeir on rb-day's list and will be
called. This will enable them to enter sutli
non-prosses and continuances as are uetcs
sarj, so it will be known eaetly I10.1 many
cases there will be to hear next weeli
Theie are about 23 cases remaining ou the
list.
Light cases w ere argued j esterday. An
argument wis heard in ths case of II. J.
Hciuz & Co. 'vs Lutz Bros., appealed by
the defendants trom Common Pleas Xo. 2.
The suit was brought by Heinz & Co., to
restrain Lutz Bros., from issuing un alleged
imitation of the plaintifl's label lor iruit,
etc
An argument was heard in the case of S.
Dickson and wife vs McGraw Bros., ap
pealed bv the plaintiffs from Common Fleas
Xo. L The case was an action in ejectment.
The case of L. L Felty vs. D, K. Calhoun,
appealed by the defendant from Common
3'leas Xo. 1, was argued. The tuit was on
an agreement to sell real estate.
An argument was heard in the case of J.
W. I'iddle vs AY". L. Mellon et al, appealed
by the plaintiffs from Common Fleas Xo. 1.
The suit was on an oil lease.
An arsument was heard in the case ofS.
T. F-wmg and wife vs the Pittsburg, Cin
cinnati aud St. Louis Railway Company, ap
pealed b v the plaintiffs from "Common Fleas
Xo. L The suit was for damages for illness
occasioned Mrs. Lw ing by a fright caused by
a collision of ireight cars, which were
wrecked and thrown against the house, ad
joining the railroad.
The cae of Murphy & Diebold vs J. P.
Cappeau et al, appealed by the plaintiffs
Ironi Common Picas Xo. 1, was argued. The
suit was an action on a mechanic's lien.
Au argument was heard in the case of L
If- Ayeis & Co. vs. A. E. MeCaudless, ap
pealed by the defendant trom Common
Pleas Xo. L The suit was for damages lor
an alleged illegal sheriff's sale.
An argument was heard in the case of AY.
F. Sugden et al, vs M. E. McKenna, ap
pealed by the defendant from Common
Pleas Xo. 1. The suit was a dispute as to
the title of property under the will of
James Sugden.
SEVERAL SHALL CASES
liefore Judges Efong and McClunjr in
Criminal Court.
lu Criminal Court yesterday before
Judges Ewiag and McCIung, John Mitch
cowsky was tried and acquitted of stealing
scrap iron from the yard of the Eliza
Furnace.
William A. Diamond was convicted of
assault and battery upon Luke Luckock at
Oakmont, May 14, and was fined 510 and
costs.
John Gibson was convicted of selling
linuor to minors at McKees' Rocks on Oc
tober 15. He was fined 530 and costs and
sent CO davs to the workhouse.
Dr. T. D. Davis, of Xo. 6018 Penn ave
nue, was convicted of assault and battery
on J. W. Houston, and fined ?3 and costs.
Thomas Hajs pleaded guilty to selling
liquor wunoui license in south avette
townsbip. He was fined 5550 and sent to
the workhouse for four months.
Jihn H- De Carpenter aud Robert Ben
nett were found guilty of obstructing a
highway in Duquesne borough.
Henry.Turuer was acquitted of aggra
vated assault and battery ui George Smith,
and the toots were divided.
Andrew Kelly, Jr., a road supervisor in
Elizabeth township, is on trial for refusing
to open a road according to an order of
court.
Kci.ll. E.SoutherIand rined.
The famous case of Eev. H. E. Suther
land, of Luzerne county, convicted at the
last term of the United States District
Court at Erie, of circulating improper mat
ter through the mails, was terminated ve-
terday belore Judge Reed, who sentenced'!
the defendant to jay Cue of 5000. T. B.
Alcorn, representing" Mr. Sutherland, made
a masterly plea for his aged client, and the
case excited unusual sympathy for the de
fendant. '
To-Day' Trial IJst.
Criminal Court Commonwealth vs Jos.
F. .Brown, Jlr. and Mrs-Nosie, alias Kelerick,
Kate Haner. Alexander Andersou, Mapgie
Daley, George 1'. Miller and Patrick bmythe.
To Protect Their Gas Pipes.
A bill in equity was filed yesterday, by
the Carnegie Natural Gas Company against
the Pittsburg Wire Company and the Mo-
uongahela and Western Dredging Coin-
pany. The plaintiff, it is stated, have laid
three pas pipes from Homestead across the
Monongahela river to the Edgar Thomson
Steel Works at Braddock to supply the lat
ter works with natural gas. The pipes are
laid on the bed of tne river, and are carry
inc gas at a high pressure. The defendants,
it is charged, are dredging in the river and
intend to raise the plaintiffs pipes about
ten feet. This would cause a break The
defendants, it is asserted, have no right to
do the work, and an injunction is ajjked to
restrain them from interfering with the
plaintiffs pipes.
OPENED THE ROAD.
The Pittsburg and Moon Ran K-llroad
Thrown Open to Travel Many Railway
Officials Present at theCeremony Opens
Oil and Coal lands.
One of the neatest little lateral railways
in" this country, the Pittsburg and Moon
Bun, was opened yesterday. It has traffio
connection with the Pittsburg and Lake
Erie Railway and connects with the latter
at Grocton, about eight miles below the
city. The length of the Pittsburg and Moon
Run road is six miles, the southwestern
terminus being at the Steubenville pike,
near Remington postoffice. At that end is
a fine farming country underlaid with ex
cellent coal, which hitherto could not be
gotten to market. The road will be a great
help to farmers rip Moon Run and petrol
eum operators in the McCurdr field.
The principal men interested, that is
those who put the most money into the
road, are General J. Casement, of Faines
ville, O.. and Peter JL Hitchcock, of Cleve
land. Mr. Hitchcock is Treasurer, and Mr.
It. L. Casement, son of the General, Secre
tary, and 3Ir. X. Sanford, General Manager.
A party of about 50 left the Pittsburg and
Lake Erie Railway depot at 10:45 A. M.,
and arrived at Groveton at 11, where they
had lunch furnished by Caterer Kennedy.
After being refreshed they, started over the
line in a special train and inspected it. The
tipple near the Steubenville pike is pro
nounced the most perfect thing of the kind
in the country. The company has four pits
open, and in a few days will be able to put
out all the coal wanted. Three passenger
trains daily will connect at Groveton with
the Pittsburg and Lake Erie. Among those
present at the opening and inspection were,
of the Pittsburg and Lake Erie Railway:
John G. Robinson, Secretary aud Treas
urer; Frank A. Dean, General Freight
Agent; J. B. Yohe, Master of Transporta
tion; If. Evans, Purchasing Agent; S. Fos
ter, Chief Clerk and General Superintend
ent; Fred M. Kennedy, Freight Agent, and
Mr. Mackey, Chief Clerk in the Treasurer's
onice.
The 1'.. C. & St. L. Railway was repre
sented by G. S. Davidson, General Super
intendent; R. T. Hill, Secretary and Treas
urer, and J. P. Hough, Train Master. "V.
A. Andersou, General Manager of the
Clinton Railway, represented .that com
pany. For the Western Union Telegraph
Company appeared C O. Howe, Superin
tendent, and Thomas Bennett, Superin
tendent of Construction.
The L. S. & M. S. representatives were
II. J. Lawrence, General Agent, and
Ueorcre H. Mclntvre. of Youncstown. O.
Ou behalf of the X. Y., P. & O. Railway
Company appeared S. P. "Woodside, Gen
eral Agent, aud George E. Hodges, Special
Agent
There w ere also a number of coal com
panies representatives present, among
them J. F. Hosack and "V. T. Bonny,
Superintendent and Soliciting Agents. Mr.
Hartley, of Hartley & Marshall, appeared
on behalf of the Saw Mill Run Company,
and Mr. Patterson, for the Panhandle Coal
Companj.
The special train on the Moon Run part
of the trip was under the command of Con
ductor Robinson and Engineer Davis.
Xature departed from her usual plan in this
section by niakiug the greater portion of
Moon Run straight and without any tunnel
ing and no tutting of consequence, the road
is so nearly straight that more than half of
it can be seen while standing at some points
ou the line.
A PINE COURSE OF LECTURES
To be Delh ered at the Western CnUersity
and the Public Invited.
The course of Lectures Extraordinary at
the "Western "University is open to the
public. Hon. John Dalzell will deliver
the first lecture this afternoon at 3 o'clock,
upon "The Tariff" The lecture next
Friday afternoon will be by Col. James
Andrews on "Ship Railways." On Xovem
ber 20th Col. T. P. Roberts will lecture
upon "Modern Waterways," on Xovember
27th, Mr. H. McL. Harding, Superin
tendent of the Westinghouse Electric Com
pany, will lecture upon the "History of
the Development of Electric Rilways."
Mr. Harding was connected with the
building of the first successful electric rail
way in America. On December 4th, Prof.
M."B. Riddle will lecture upon the "History
of the Development of Hellenistic Greek.''
Students in the various educational in
stitutions in the two cities, and professional
men are specially invited to avail them
selves of this course of lectures.
CALIFORNIA,
71ic Country of Dellghtfal Winter.
California is the most attractive and de
lightful section of the United States, if not
of the world, and its many beautiful resorts
will be crowded with the best families of
the East during the entire winter. It offers
to the investor the best open opportunity
for 'safe and large returns from its fruit
lands. It offers the kindest climate in the
world to the feeble and debilitated; and it is
reached in the most comfortable manner
over the Atchison, Topeka and Santa Fe
Railroad. Pullman jrestibule sleeping cars
leave Chicago by this line every day in the
year and go without change or "transfer
through to San Francisco, Los Angeles and
Sau Diego. This is a feature not offered by
any other line. Write to Charles T. Apple
by, Traveling Passenger Agent, Room 303,
Bank of Commerce Building, Pittsburg, Pa.,
if you desire any further information as to
the country and the accommodations for
reaching it
Exhaust Steam Heating
By the "WilliamesVacuum System," with
out back pressure upon the engine. Guar
anteed advantages Saving yiower, and 25
per cent and over oi coal compared with the
pressure system, removal of cracking or
hammering in pipes, increasing efficiency of
the heating system. Send for new descriptive
catalogue to Warren Webster & Co., 491
X. Third street, Philadelphia,
Pajtenteeand Mfrs. of Webster "Vacuum
Feed Water Heater and Purifier. '
stwfsu
Horses and 3In1eH.
The auction sale of the Pittsburg, Alle
gheny and Manchester Traction Company
will continue until Friday night; there are
350 head of horses and mules yet remaining
to be sold without reserve; no postpone
ment from any cause.
Aibcncra Live Stock Compakt, Lra.
FREE TKAINS TO-MOKROW
To and From the New Town of Blaine,
Get tickets, maps, price lists of lots and
full particulars at 129 Fourth ave.
The Blalke Laud Improvement Co.
MTUWThFSU
The Farmers' Depoiit National Bank
Invite the public to call and examine their
new safe deposit vaults. Information con
cerning the renting of boxes and deposit of
valuables cheerfully given. mwf
B.&B.
Alaska seal jackets $125 to 5300, and in
sizes from 32 to 46-inch bust measure. Coma
and see them. Booos & Buhx.
To-day We continue to offer thousands
of pairs of lace curtains, on account of the
advanced season, at prices one-third off
Jos. Horse & Co.'s
- Penh Avenue Store,
WOMEN MUST PLEASE
And
Pleasing Is Easier if
Choosing Is Cultivated.
Col
or
HOW TO USE LAST YEAR'S SKIRTS.
The
Newest Evening Gowns and an Irish
Frieze Costume.
ODDS AND ENDS
FOE
PilE HEADERS
The dominant purpose in dressing is still
ever to captivate man's heart. Then let us
remember, we that are fair, not to affect
pale blues and violets that give an ashen
hue to our delicate
coloring, but to seek
the setting of dark
blues and rich greens
aud dull reds as our
fitting background
and framing, says a
writer in the New
York Sun. And we
that are dark must
never forget that all
the tints of yellow,
from palest cream to
deepest gold,are ours
bv right divine of
affinity, for in the
dark woman's pallor
there are the yellow
tints, which as we re.
produce we, soften
with our yellow
gowns and bonnets.
A. Street Coat.
And we that have red hair must choose ever
in color and hue the deeper tints of reddish
brown that modify and make glorious the
brightness of our tresses. We that have
florid complexions may wear shades of plum
and heliotrope, and with a care certain
shades of gray having a pinkish tint
"We that are stout, alas! have no alterna
tive from dark, subdued colors, avoiding all
eccentricities of dress and conspicuous
adornment "We must wear few jewels, se
vere styles, high coiffures, and renounce the
vanity of tight gloves. The artist's never
failing rule in color choosing is: "Wear only
those tints whose duplicates may be found
in tne nair, tne eyes, or tne complexion.
The accompanying "veste de matin" is an
iron gray cloth, with decoupees basques and
wide facings. The trimming is of narrow
black velvet ribbon.
It is an interesting and anomalous fact
that as black becomes more disliked and
discarded for mourning wear the love of it
for ordinary dress, particularly among
young people, becomes more pronounced. A
few years ago anyone wearing black at a
w edding would have been regarded as a bud
of ill omen, but the present Lady Dudley,
at a wedding, in a daring disregard of old
time suDerstitions. surrounded herself with
bridesmaids wearing nodding funeral
plumes on their big black Tuscan straw hats
and drove away in a traveling gown of gray,
whose "points," if one may be allowed the
term, were black. Since everyone must
wear the somber color, let fair women here-by-know
that they will look younger and
'fairer in dead, lusterless materials like wool
or velvet, while brunettes require the sheen
of satin or gloss of silk to w ear black to ad
vantage. Every one must remember, too, that
cheap black is an abomination in the eyes
of men and a vexation to the soul of wo
men. It will not wear and does not pay.
Another thought in this connection. Tne
blaek hat is to be supplemented with a
cream veil of sprigged lace, which will be
distractinglv becoming to brunette beauty.
Swagger girls are going without candy now
tor the sake of having the genuine point
d'Alencon veiling, but only a connoisseur
could distinguish the difference between the
real thing and the Brussels net imitation.
So firm a hold have these veils taken on the
other side that a woman inquiring in a
smart Brussels shop for a black veil was
told loftily "that a black veil was now so
demode that madame must try elsewhere if
she would procure one."
2Jow does the wise virgin freshen up her
last year's silk skirts with exquisite milli
nery in the way of dinner bodices or theater
waist They may be made of any rich gleam
ing stun, ana-decorated
according to the
vagaries of the most
fantasticcaprice. Heie
is one which a charm
ing woman has evolved
out of her inner con
sciousness ana some
bits of Marie Antoi
nette brocade left in
trust by some grand
aunt belle of beginning
of the century fame.
The brocade has bright
flowers on a yellow
ecru ground, and with
green leaves in the fig
ure whose vivid tint is
exactly matched in the
green velvet vest over
which the brocade is draped, The collar
and corsage girdle are exquisitely em
broidered in dull gold and silver, picked
out here and there with pink sparkling
gems in happy accord with the
dull rose du Barry crepon which
forms the lull sleeve
escaping from the
short brocade shoul
der pulls, and lines
the scries of green
velvet loops which
encircle the waist
and complete the
dainty thing. A
younger sister of
this waist, less in
tricate in its ar
rangement, is of
pale blue crepe du
chine draped to 'a
V over an inner
bodice of wonder
fully wrought East
e r n embroide.-v,
ffleamimr with r-nhl
and jewels laid on a black velvet ground.
Full soft puffs of the blue at the shoulder
fall over tight sleeves of the embroidery,
and any woman with a knack at dressmaking
can pick up the materials on a bargain
counter and transmogrify her old black silk
or satin into-a vision ot beauty with the
the little bodice. A girl managed to ft
one together, materials and all, in the in
terim between receiving an invitation to
the theater at breakfast and the hour jof
starting in the evening.
The newest evening gowns for young
women are black chiffon or monsseline de
soie, embroidered with a color and trimmed
with velvet the shade of the color. These
dresses may be lined with black or a tint,
according to the fancy of the purchaser. A
very charming model is a black gossamer
web, strewn closely with buttercups in the
natural hue and brightened with yellow
chiffon in tho sleeves and petticoats and
chemisette. The necks of these gowns are
moderately high and the sleeves invariably
long, which adds much to the quaintness o'f
enect produced, borne ot the skirts are
made of three flounces, embroidered with
trails of roses or other bright blossoms.
The bodice may then be made of plain
chiffon in the color of the flowers, or of
black with smaller flower sprays. A favor
ite design is a bow knot ot color embroid
ered upon the black, and this is extremely
effective in the yellow, which promises to
be the color of the season here, as in Paris
it now has the preference over all other
colors.
We who have , not passed beyond the
world of hats into the land of eternal bon
net will rejoice at the revival of the Tam o'
Shanter hat, or, as it is called in London,
!, Ttoofpflt.pr." of fiomn five tr Rlr spnenna
ago. Anyway, Ada Rehan U bringing one
4ip
over to wear in the final act of "The Last
"Word." "Felix and "Worth are responsible
for her costumes, and every one knows that
one man's play in these days makes many a
woman's work.
The women of California have installed
the widow of John'C Fremont, the famous
pathfinder, in a pretty little home in the
heart of. an orange grove in Los Angeles as
an expression of their love and gratitude to
the man who did so much preliminary work
toward the work of building up the magnifi
cent Commonwealth of California. It is
just about a year since it became known
that3Irs-Fremont and her daughter .were
practically without a home, and the efiort
was commenced to provide her with one
and the means of maintaining herself in it
with comfort, and all has been accomplished
save the payment of a small amount on the
house.
Irish friezes differ from the cheviots in
being woven of twisted threads, which gives
a durable firmness, but takes somewhat
from the beauty of quality. They are in
brown and white mixtures, and. are 52 60 a
yard. There is also a serviceable freize
made by the Scotch highlanders in their
cottages. It is hand-made, of undyed wool,
and very light gray. A costume made
from it is trimmed wfth mink tails and
brown velvet A long skirted jacket opens
with a rolling collar over a vest of the vel
vet It laps over onto the left side, becoming
double-breasted below the bust, where it is
blind fastened, without buttons. It is edged
all around with the mink tails, which form
a continuous roll. The bell-shaped skirt is
slashed to the waist slightly toward the left
side, and a velvet V is set under the slash.
The skirt is edecd clear round with the.
mink tails.
Every womau adores love letters, and
here is an extract from one embodying such
a high ideal of womanhood that every giil
and woman ought to liaste it araono- her
scrap book treasures: "There is no womau
like you in this wide world. Who else has
so much talent with so little self-conceit; so
much reputation with so little affection, so
much literature with so little nonsense; so
much enterprise with so little extravagance;
so much tongue with so little scold; so
much sweetness with so little softness; so
much. of so many things and so little of so
many other things?" The letter was writ
ten many years ago by the Rev. Dr. Stowe
to his famous wife, Harriet Beecher Stowe.
Ada L. Tims enjoys the distinction of
being the only newspaper woman in the
world having the turf as a specialty. She
is.a bright, clever woman of about 20 years,
well versed in pedigrees and records,' but
not at all "horsey". in conversation, and
with a womanly dignity which always com
mands respect at the pool box, the track or
the hotel corridor. She is a correspondent
for about 15 dailies, including the Chicago
Tribune and Herald, and has been made the
representative of the Associated Press at
Independence.
A new fraternal organization has been
formed in San Francisco, composed of the
wives of engineers of the Southern Pacific
Railway. Its Same is the Mrs. Leland Stan
ford Auxiliary No. 106, and it is auxiliary
to the Brotherhood of Locomotive Engi
neers, whose entire order has over 2,000
members and more than 100 branches.
Annie Jenness-Miller has picked up her
bifurcated garments and shaken the dust of
New York from her common-sense boots
forever. Her residence now is in Evans
ton, 111., and her latest project is tho
founding of a national school of physical
culture.
There are now 120 incorporated women's
clubs in the Federation of Clubs, ot which
Mrs. Charlotte Emerson Brown is Presi
dent Phoibe Holmes is one of the most pro
ficient first violins of the Georgetown Or
chestra. Portugal's first woman doctor, Amelia
Cardia, has reoeived her degree. Her
graduatine thesis she dedicated to the
Qtecn, and the royal lady accepted it
The widow of Millet still lives at Barbi
zon, but not in the -historic cottage where
her married life was spent Money has
been raised to purchase the house and pre
sent it to the widow, .but the owners refuse
to sell. ,
Miss Tillinghast of New York, nupil of
La Farge, the artist of the wonderful St
Thomas Church pairitings, is one of the
most successful woman designers of stained
glass in the city, and is an architect of
houses as well.
If you would surprise your dinner guests
with the novelty of a frozen pudding served
in block of ice, this is how you go about
it: Have the ice sawed the desire'd shape, fill
the mold in which the pudding is Jo be
packed with boiling water, and place it on
the ice until it melts out a hollowsufficiently
deep to support it Cover a jJIatterwith
fine ferns and put the ice in among the
green sprajs. At the last moment im
merse the mold in cold water to loosen the
pudding, slip it into the prepared recep
tacle, and yon will have a dish as full of
magic and mystery as was the famourpie of
"four and twenty blackbirds."
i
A popular wall and ceiling decoration
now is of daffodil yellow in the wall panels
and has a friezemade of gold canvas painted
with garlands of roses, and a ceiling of clear,
bright silvr. It sounds a little like
Aladdin's palace, or King Midas' castle,
but softened under the 'electric light the
effect is wondrously rich and not at all daz
zling. Its Excellent &aalities
Commend to pnblic approval 'the California
liquid fruit remedy Syrup or Figs. It la
pleasing to the eye, and to the tatte, and by
sently acting on tho kidneys, liver and
bowels, it cleanses the system effectually,
thereby promoting the health and comfort
of all who use it.
I.ndwig; Sc Richter, Florigta,
Have a large stock of cut,, chrysanthemums
and other flowers next week.
Jt.
gjlit 4
ir
Jn rrieze and Mink Fur.
OCEAN CABLE SERVICE,
Interesting Comparisons Between Ma
rino Telegraph Companies.
INVESTMENTS UNDER THE OCEAN.
Capitalization, Earnings and Durability
as a Speculation.
PARALLEL BETWEEN TrTO BIG SYSTEMS
The ocean is full of cables and the stock
market Is well supplied with cable stocks,
but the investing public do not, as a rule,
take much interest in either. The earlier
companies did griat harm both to them
selves and to telegraphic finance by the
extravagant capitalization they started
with. It is that which it to blame for the
comparatively meager dividends they pay,
says the London Financial Times. On a
moderate bona ficje capital they could have
made very liberal returns to their share
holders and cable shares would have stood
in much better credit with investors. In
later enterprises these errors have been cor
rected and cable systems, prudently admin
istered, have been enabled to exhibit their
real earning power. But the fairly capital
ized shares are still in a small minority
compared with the watered ones.
In the official list of the Stock Exchange
there are 10 or 17 compauics quoted and of
the whole number only three or four have
escaped the evil of over-financing. The
Indo-European has always been conducted
on conservative lines, with the result that
it is now a very solid institution, able o
serve the public-well and at the same time
treat its shareholders handsomely. They
can always count on it for 10 per cent divi
dends, and the shares in consequence com
mand a substantial premium. . With 25
paid on them they have a market Value of
42, the yield on which is about 0 per
cent yer annum.
Gron-tu of the Great Northern.
Another of the select circles of cable
shares which can be regardetl as invest
ments is Great Northern, a competitor of
the Indo-European. Although it is a for
eign institution, its headquarters being at
Copenhagen, its business is so well con
ducted and its dividends are so invariably
satisfactory that it holds a first-class posi
tion both here and on the continent Re
cently it has paid on an average 1 per cent
per annum aud the shares have lor years
been steadily appreciating. From 13 they
moved up with the growth of the dividend'
first to 15, then to 17, and after resting there
awhile they got now to It). Foreign as
they are, they, are one of the highest priced
of cable stocks, the .yield on their present
quotation beins under 4K rjer cent. It has
taken them, however, nearly a quarter of a
century to work up to this high level.
A very interesting comparison may be
drawn between them and the youngest cable
stock on the market, namely, the Commer
cial. The two systems are as widely sep
arated as they could possibly fce, the one
operating iu the far East and the other in
the far West; nevertheless, they have many
points of similarity. In extent they match
each other v ery closely, the total mileage of
the Great North liues being 6,110 miles,
while the Commercial measures, with its
land connections, 6,933 miles. Financially,
they also present some curious parallels,
their capitalization' being as nearly as possi
ble alike, and their earnings, both gross and
net, being veiy little apart.
Interesting Comparative Figure.
In 18 the Great Northern telegraph sys
tem had gross receipts of 51,400,000, equal to
5227 per mile of cable. In the same year the
Commercial uaole uompany earned l,S)j2,
000, or at the rate of 5278 per mile of cable.
The net earnings were respectively 51.037,
000 for the Grand Northern and 51.112,680
for the Commercial Cable. In fixed charges
the older company has somewhat the ad
vantage of its junior, having been able to
borrow at 5 per cent as against C per cent,
which the Commercial Company has to pay.
The amount of Great Northern debentures
is also very Bmall 248,000 and it is be
ing steadily reduced by annual redemption.
The same policy is being pursued even more
energetically by the Commercial Cable
Company. It started with a debenture capi
tal of about 53,000,000, which has already
been reduced by more than one-half.
In 1890 bonds were redeemed to the
amount of 5200,000, and at the beginning ot
the present year another 5600,000 was paid
off. This reduced the outstanding sum to
51,600,000, or 380,000. At least another
5200,000 will be redeemed at the end of the
year, bringing down the debenture de"bt ot
the Commercial Company to about the same
level as that of the Great Northern. In re
spect ot capital stock and reserve the two
undertakings are practically on all fours.
The Great Northern's 6,000 miles of cable is
capitalized at S7,500,000, and has a reserve
fund behind it of fully 53,000,000. The
Commercial Company has a capital of 57,
716,000, and a reserve of 52,4S0,000, or half
a million sterling.
One of the Curiosities In Finance.
The parallel between these two great
cable systems is a curiosity in finance. It
runs step by step through everything down
to the very dividends they pay. Last year
the Great Northern Company distributed to
its shareholders 17 shilling 2 pence per
share, making, about 1$ per1 sent. As is
welL known the Commercial Company is
now paying quarterly dividends of 1 per
cent, or 7 per cent per annum. But the re
semblance suddenly stops here and a star
tling discrepancy makes its appearance.
Great Northern 10 shares have a market
value of 19, which represents a premium
of 90 per cent
On the other hand, Commercial Cable
shares are quoted in New York about 120
and in London are nominally 123, but with
out sellers. Here the premium is only 20
per cent, an odd contrast to tho Great
Northern Company's 90 per cent on practi
cally the same kind ot stock. Outside of
the market there is no justification what
ever for such.widcly different values. The
Great Northern pays, it is true, a half per
cent more than the Commercial, but that
small advantage is offset by various other
considerations. The Commercial, being the
younger enterprise of the two, has younger
and better cables. None of them are older
than 1884, while the Great Northern cables
are of aliases from 1884 back to 1868. In
another important respect the jnnior is the
better of the two, its traffic being by far the
more progressive.
Tlewed as Investments Purely.
The Great Northern has for several years
past had a good solid income, ranging from
270,000 to 280,000 a year, the rate of in
crease being merely fractional. In the same
period the Commercial Cable receipts have
increased nearly 100 per cent. In 1888 the
gross receipts ot the company were 51,189,
000; in 1890 they had grown to Sl,931,000,
and this year they will probably be another
f,r00,000 up. Since 1888 they have more
than doubled themselves, and from this
point of view the Commercial's 7 per cent
dividend should be obviously worth to an
investor much more than the stationary 1
per cent of the Great Northern. At all
events, the two form an interesting couple,
and throw a very favorable light on each
other.
The figures summarized above may be
more closely compared in the following
table:
Cemmcroial Great
Cable. Northern.
Mileage 6,935 0110
Gross earnings, 1M 1,931871 $ 1,400,000
Net earnings..... l,llJb8J 1,0S1,W
Aet earnings per mile ot
cable 278
Capital stock 1,513,000
Bonds J2O,O0O
Reserve 43K,000
Dividends Xpo
Price of stock in Lon
don 123
Gross recoipts, 188 $ 1,189,195
Gross receipts, 1889 l,80O,2Si
Gross receipts, 1S90 1,931,JU
6 per cent j5 per cent
227
XI, 500,000
1215,000
617,9
7XPC
190
272,203
271.8JO
250.000
NEW ADVEBTISKMENTS-,
WE. ARE MAKING A SPURT
In Fall and Winter Clothing that is startling a great many people. Our
stock is now complete, embracing a wonderful assortment of elegant
Sack Suits at $8, io, $12 to $20. Cutaways and Frock Suits,
gio, 12, 15 to $2$, and a handsome array of Overcoats,
gi2, $15, $iS to 40, and a-grand assortment of Boys'
Suits, $5, $10, 12 to $20. Children's Suits in
variety unexcelled at $2,.$4, 5 to $15. Under-
' wear, Shirts, Collars, Cuffs, Neckwear in
endless assortment. Come in and we
; promise to suit you-in price. ;
DON'T FORGET
That we are still giving away those splendid DINNER BUCK
ETS to purchasers in our Men's Department, and also those
novel DIME BANKS to purchasers in our Children's Depart
ment. All purchasers a welcome to them, and they
ARE REQUESTED TO ASK FOR THEM WITH THEIR PURCHASE-
uy vmcsn j i
SNER &
UNION CLOTHING HOUSE,
COR. FIFTH AVE. AND WOOD ST.
A GREAT LUXURY.
LAIRD'S SHOES!
$2 OO, $3 00, $4. OO, $5 OO.
LAIRD'S SHOE STORES
406, 408 and 410 f EVERT 1 433 Wood St.
pair . V
Market St I RE LIABLE J Entire New Stock.
GRAND OPENING SALE
OF
FINE BEDROOM SUITES!
KEECH lias just received FIVE CARLOADS, over 500 Chamber Suites, which -weTo pur
chased at tuo receiver's sale of a bankrupt firm of furniture manufacturers of Michigan.
KEECH was first on tho ground, secured the choicest selection and bought for spot cash at
prices that enable him to offer them at
Less Than Manufacturers' Cost!
They run in nriccs at SIS and $20 for complete suite, 3 pieces,
Washstand, finished in Antique, Sixteenth
once they won't last long.
Remember our closing out sale of Ladies'
only reliaolo goods at
KEECH'S
CASH
923, 925, 927 PENN AVE.,
- NEAR
OPEN
ATTRACTIVE
WE ARE IN FULL POSSESSION of our new store in the
Hotel Anderson Block known as No. 39 SIXTH STREET, and
we propose to do a first-class merchant tailoring business exclu
sively in all its various branches at popular and attractive prices.
We needn't tell you that we go to the mills of this country
and Europe and buy the best goods at the closest prices which can
be produced. So that by placing your orders with us you only pay
one small profit. We shall be ready to serve you in our new loca
tion with an 'abundant stock of foreign and domestic woolens and
the broadest variety of patterns in this, or any other city.
Give us a call and see what you can save by direct dealing.
Clothing made to order with distinguished success.
II
39 SIXTH STREET,
Hotel Anderson Block.
A BARE-HEADED
MAN
Out of doors is never comfortable
the sun hurts his eyes. The hats we
are displaying this fall have rims of
the very latest patterns, which afford
ample protection to the eyes. We
have.the Derby in several shapes, the
Silk Dress in the latest styles, the
Crush for office and travel and the
slouch for the field and farm. Come '
in and examine our $1, ji.50, 1.90,
$2, 2.90, $3.90 to $5 hats.
PHILLIPS.
no4-wr
iiol-Mwrsu
Century and In
tildes, jwuniuau, .oare&a nan
mltatlon Walnut.- See them at
wraps, Men's Clothing.
Also, that we sell
CREDIT
NINTK STREET.
SATURDAY
EVENINGS.
no2-mrr
&
w..KV. J
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