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THE PITTSBUBG DISPATCH, MONDAY. MARCH 31, , 189a
I 8
t
A LESSOff TO LEARN
In the Beorganization of the Bich
raond Terminal.
A TIME FOR INVESTORS TO THINK.
The
Ihree Things Very .Apparent in the
Scheme of the Committee.
JIATTHEW MARSHALL'S TOPICAL TEXT
f SPECIAL TELEGRAM TO THE DISPATCH.
X evt YoEK,March 20. "A Lesson for In
vestors," is the title of Matthew Marshall's
article for to-morrow's Sun, which is as fol
lows: Lying before me Is tlie printed plan of re
organization of the Bichmond and West
Point Terminal Railway and Warehouse
Company, more commonly called, for brevi
ty's sake. "Richmond Terminal." It is a
handsome pamphlet, nearly a foot square,
and containing 23 pages of reading matter
and figures. Fortunately for myselr, I have
no personal interest in its contents, and If I
bad 1 do not know that I should compre
hend them. Considering that the plan deals
with three enormous netwoiks of railroads,
that the total of the stocks and bonds in
volved is nearly $400,000,000, and that they
comprise over 100 different issues, with
values depending upon elements of which,
like most of my readers, probably, 1 have
no precise information, I could only fall
back udoq my respect for the committee
who have framed it, and from their estab
lished reputation for ability and integrity,
conclude that what they propose is not only
fair and Just, but most advantageous for all
concerned.
I am told that the terms offered for the ex
change into new securities for the underly
ing sectional mortgage oonas are in some
cases inadequate, and, therefore, not likely
A
prepared ov .Messrs. iiam-
bleton 4 Co., the JJaltlmore bankers, which
to be accepted;
have seen figures
but. on the other hand.
reparea ov .Messrs. iiam-
demonstrate that, putting the proposed new
4 per cent bonds at SO and the new preferred
ttockat 40, the best underlying securities,
with a few exceptions, will come out at
nearly their present market values, and
some of them will do better. This, however,
is a matter for the security holdeis them
selves to consider.
Worth an Inspection, at I;ast.
But difficult as it may be, and to some, per
haps impossible, to master the details of
the proposed scheme, I commend to in
vestors an inspection of it, in a general way,
as exceedingly instructive. It brings be
fore the mind, in a distinct and sharply
defined form, the risk taken by purchasers
of securities like those of the Richmond
Terminal system, their helplessness in the
face of financial disaster. This particular
concern is but one among several others of
the same character the Atchison, Toneka
and Santa Fe, the Louisvilllo and Nash
ville, the Missouri Pacific, and Union Pa
cific, for example, being equally composed
of a multitude of integral parts, which in
combination are valuable, out which dis
connected would be comparatively worth
less. It is onlr a little more than two years
since the Atchison, Topeka and Santa Fe
Company underwent a process of readjust
ment similar to that now proposed for the
Richmond Terminal, and less than a year
since the Union Pacific was saved from a
l ecelvershtp only by an arrangement with
its creditors closely resembling an Insolvent
assignment. In both these cases investors
holding small amounts of stocks and bonds
accepted the new securities offered them,
not cheerfully, indeed, but with resignation
as to the Inevitable. Indeed, the most sensi
ble among them congratulated themselves
that they fared no worse than they did. In
dividual opposition was so clearly futile that
it was not attempted, and combination was
but they were speedily placated and gave
no further trouble.
Excellent Snmming Up of the Doctors.
The Richmond Terminal doctors have
summed up the past career and the present
condition of their patient very neatly on
page 2 of their pamphlet. They say: "The
companies controlling tho respective sys
tems have, in declaring dividends, treated
the indebtedness to them of their subor
dinate companies as assets, although such
Indebtedness could be collected only out of
the net earnings of the subordinate com
panies. The committee finds that the vari
ous systems havonot been operated through
out for the common benefit of the control
ling interest, but that they have competed
among themselves for business, each sys
tem maintaining a separate organization
for obtaining business. This has necessarily
resulted in a large dimunition of net earn
ings of the property as a whole, and in an
increase of expenses. Receiverships, bank
ruptcy, disintegration of the properties, and
ruinous sacrifice of securities are inevita
ble, unless a. remedy be applied without de
lay." That is to say, the show of net earnings
heretofore made has been delusive, the bus
iness of the company has been Increased in
amount by a cutting of rates entirely unnec
essary, and the concern bas now got into a
situation where It must either compromise
with its creditors or go to pieces. I presume
that the committee are entirely right In
their charge that the nominal book indebt
edness of the subordinate sections of the
Richmond Terminal system bas been called
applicable to dividends. In this respect
it is a sinner among railroad companies
against the rules of sound finance. It has
plenty of precedents and plenty of compan
ionship. A Reminiscence of Tears Ago.
I remember, years ago, having a rather
acrimonious dispute with the late David
Don s over this very point. The Chicago and
Rock Island Railroad Company, in which he
held the controlling interest, had issued an
annual report in which the advances It had
madeduiing the year on account or the Chi
cago and Southwestern Railroad were reck
oned as a debt, although they wore made to
cover a deficiency in the earnings of the
load to meet its fixed charges. I contended
that the Southwestern road, being owned by
the Rock Island Company, was really a part
of its system, and that the loss Incurred in
running it should dc deducted from the
earnings of the road to meet its fixed
charges. I contended that the Sonthw cstern
load, being owned by the Rock Island Com
pany, was really a part of its S3'stem, and
that the loss incurred in running it should
be deducted from the earnings of the entire
property in computing profits.
Mr. Dots was quite earnest in sustaining
the opposite view, and, as things turned out,
the Southwestern division subsequently be
came sufficiently profitable to wipe out the
debit charges against it on the Rock Island's
books and thus to vindicate Mr. Dows'
bookkeeping. But suppose that the con
trary result had happened; The Rock
Island would have had eventually to
Mioulder the loss, and to acknowledge that
it had made dividends which it had not
really earned. This actually occurred not
long ago in the case of the St. Louis and
San Francisco Railroad, since absorbed by
the Atchison, Topeka and Santa Fe Com
pany. The St. Louis and San Francisco
Company bad made large advances to tho
Atlantic and Pacific Railroad Company,
which it w as unable to collect.
Money Borrowed to Pay a Dividend.
It, therefore, took for its debt bonds of the
Atlantic and Pacific, put its guarantee on
them, sold them In the market, and treated
the proceeds as payment of the debt due to
it. The operation which was neither more
nor less than borrowing money on its own
credit enabled the company for that year
to make its full dividend of 7 per cent oh Its
first preferred stock, but it could not be re
peated, nnd the next year the aividend had
to be reduced to 4 per cent and finally to
nothing.
Much more conservative Institutions have
followed the same vicious course, the Justi
fication being that the losses sustained in de
veloping a new road forproperty are charge
able to construction as constituting part of
its cost. The retiring Richmond Terminal
directors seem to have assumed on this
principle that the deficiencies of the subor
dinate companies would eventually be mado
up, and, therefore, dia not reckon them as
looses. The Reorganization Committee
took a different view, and, consequcntlv,
made a lower estimate of the earning power
of the entire system than its former mana
gers did.
Whatever may be the soundness of tho
committee's position on this point, they
have certainly pointed out a danger to
which investors are exposed, and against
which they can protect themselves only by
a much more severe examination of the ac
counts submitted to them than they usually
make. The same thing Is true of the second
revelation of the committee. How many of
the bondholders and preferred stockholders
ot the Richmond Terminal have known
until now that the component divisions of
the system were oompeting with another for
business and swelling their gross leceipts at
their common expense! The bringing to
light of this fact alone gives to tho labors or
tho committee great value, and the cor
rection of the abuse, if it can be made, will
entitle them to the gratitude of their con
fctituents.
Financial Strength Only In Unity.
Upon the third and lost point which I
have quoted, and which the committee re
peat at the conclusion of their Introductory
remarks, namely, that a failure to adopt
this plan will result in a disruption and
practically in the ruin of the whole Rich
mond Terminal property, I have already
touched incidentally. I will only add that
investing money in a huge concern like the
Richmond Terminal is like Investing in the
obligations of a nation. So long as the
debtor preserves its organio unity It can
take caie of its debts, but if it is broken
into fragments by revolution and civil war
its power of levying taxes and collecting
revenue is destroyed and it becomes bank
rupt.
The money markets of the world demon
strate the sentiment of investors generally
In this respect. When it looked as If the
rebellion ot the Southern States would be
successful the bonds of the United States
fell abroad to 40 cents on the dollar, and
those of many South American republics
are selling nearly as low to-day, as the re
sult of thexinstabilityof their governments
and the imminence of their collapse. If
prudent investors in national loans consider
the possibility of national disruption as an
element in estimating their value, so should
Investors in stocks and bonds of great rail
way systems consiaer tne proDaDUity or a
like catastrophe. The whole thing comes
back to what I have so frequently insisted
upon, that the character of the managers of
a corporation is one of the most important
elements in the value of Its securities, Just
as the character of the ruling citizens of a
nation is the controlling element in deter
mining the amount of credit to which it is
entitled.
FOB MALARIA
Use Horsford's Add Phosphate.
Dr. E. G. Davies, De Smet, Dak., says: "I
have used It in slow convalescence and pre
vention from malarial diseases, -where tho
drinking water was bad; I believe it to be
beneficial m preventing summer complaints:
also one of the best agents we have to rectify
tne oaa cnects oi tne arm King water upon
the kidneys and bowels."
THE PEOPLE'S STORE, FIFTH ATE,
Prevent the Grip
Dr. Cyrus Edson, of the New York Board
of Health, says that to prevent the Grip, yon
should avoid exposure in inclement weather
and keep your strength up, your blood in
lgood condition, and your digestive organs
n regular action. Tho tonio and alterative
effeots of Hood's SaraapariUa so happily
meet the last three conditions, that with the
protection given by this medicine you need
not fear the Grip.
HOOD'S SARSAPARILLA
Is an inexpensive medicine and a single
bottle may save you many dollars in doctors'
bills and much suffering.
A Firm "Grip"
"One year ago I was taken down sick with
'the Grip,' and my whole system seemed
completely run down. I could not sleep or
eat. A friend of mine advised me to try
Hood's Sanaparilla. So I did. I used four
bottles and in two months I was a well man.
I think so much of
HOOD'S SARSAPARILLA
That I keep it on hand all the time." Cur
tis Gowny, City Bill Poster, Shelbyrllle, 111.
Hood's Pills cure Liver His.
HEW ADVERTISEMENTS.
Publicity
ffiT
n
NEW APVEKTiaKMETra.
WE ARE OFFERING
THE BEST
EXCITEMENT.
4 proposition made to us to keep up OUTRA GEOUS PRICES.
Our answer NO. We will do our utmost to cultivate
your trade by honorable efforts.
beautiful
pure all
24-Inch Black Brocade Indias. SI 00,
Only 16 pieces of them. They won't last
over 3 or 4 days of our special silk sale
commencing to-day. Campbell & Dick. v
House Hunters
Can find just what they want in the to-let
columns of to-day's Dispatch. See third
page.
Come and see the new palm frieze and
ceiling paper in blended tint effects.
John S. Roberts,
719 and 721 Liberty St. (Head of "Wood.)
MP
Bead the To-l.et Lists
In to-day's Dispatch. They are unusually
satisfactory.
Dress Trimmings.
"Will offer to-day special lots in new
dress trimmings and black laces. Get
jrices on the&e goods.
JS tr. AMlMSEL,Li Cv SDSS, -ii 1HU aV,
Weak and sickly children should take
3JAOTOL.
It will make them strong and fleshy. It
has the same effect on anyone. It cures all
diseases of the throat and lungs.
Price per bottle, 75 cents. Prepared by
A. P. EAWHILL,
mh8 187 Federal st, Allegheny, Fa
JUST liDED.
LICE
We will offer to-morrow a line of Children's
school suits, elegantly made, sewed with silk and
wool, for
$2.75
That cannot be duplicated for a cent less
than $5 elsewhere.
Spring Arrival of Children's Hats That are BeauitM
MOQUETTE CARPETS
NOW AT $1.25.
We can show the
' All new goods,
finest line of
Carpets,
Wall Paper,
Lace Curtains,
Portieres,
Rugs, Etc., Etc.,
And at the lowest prices of any house
in the two cities.
Don't buy before you look at our
goods and get our prices.
NEW ADVERTISEMENTS.
WE'RE
READY
FOR SPRING,
BUT SPRING ISN'T
READY FOR US.
GEO, Mil
136 FEDERAL ST.,
ALLEGHENY CITY, PA.
mbS-irwF
Are You Going to Move?
If so, read the to-let lists on third page of
to-day's Dispatch.
Bisque-OF Beep herbs and aromatics, for
torpid lirer and dyspepsia; 60c and $L
Houses To Let.'
" See the lists on third page to-day.
CURTIS
FOR SPRING.
feu &yX
A Childlike Confidence in the
efficacy of Carlsbad Sprudel Salts is
universal throughout the world. Na
ture's remedy for Constipation, Gout,
Rheumatism, Kidney Troubles, Dia
betes, Fatty Degeneration and all
Liver Troubles.
Our rich Americans visit Carls
bad. The crowned heads of Europe
have been visiting this historic spot,
when in search of health, for the past
500 years.
You can now get the same treat
ment at any drug store, in the shape
of Carlsbad Sprudel Salts or the
Carlsbad Water.
Not a nauseating remedy.
Men and women of sedentary
habits will find life a pleasure after
taking this treatment.
. The genuine have the signature of
"Eisner & Mendelson Co., Sole-
Agents, New York," on every bottle,
HyBnJ
5 WMtt
ssa I b L Ml4jJ
I IM k P ws
Scott's Emulsion of cod
liver oil is an easy food it is
more than food, if you please;
but it is a food to bring
back plumpness to those who
have lost it.
Do you know what it is ta
be plump ? t
Thinness is poverty, living
from hand to mouth. To be
plump is to have a little more
than enough, a reserve.
Do you want a reserve of
health? Let us send you a
book on careful : living ;
free.
Scott & Bowke. Chemists, 131 South jth Avenue.
New York.
Your druggist keeps Scott's Emulsion of cod-lives
oil aU druggists everywhere do. ft,
34
DUSKY
DIAMOND
P
Healthful, Agreeable, Cleansing.
Cures
Chapped Hands, Wounds, Bums, Etc,
Removes and Srevsats Dandruff.
AMERICAN FAMILY SOAP.
Best for General Household Use.
mUMOl-swk
We have
just landed
through the
Pitt sburg
Custom
House, e x
s t earner
Runic, a
jj large im
II portation of
tne latest
designs of
; 7 Lace Cur
tains.
Buying direct from the best
European manufacturers we
are able to offer closest possible
prices for cash. This spring's
assortment embraces a wide
range of qualities and styles,
including
Nottingham,
Emb'd Muslin,
Scptch Guipure,
Swiss Tambour,
Irish Pointe,
Brussels Pointe,
Russian Pointe,
Antwerp Lace,
Pointe d'Esprit,
Egyptian,
Phrygian,
Cluny,
Louis XIII,
Louis XIV,
Louis XV,
Louis XVI,
Henri VIII,
Vallencienne,
Marie Antoinette,
Real Renaissance,
Cassaban.
N. B. We mail, free, to any
address our Spring- Catalogue of
Window Shades or our Spring
Catalogue containing engraved
copies of 24 of our leading pat
terns of
nx
There is considerable talk about
the "TAM O'SHANTER." Its
striking appearance, as you see it,
will create a feeling of pleasurable
delight in the child that wears one.
PRICE 75c to $1.50.
This carve represents "THE IM
PERIA YACHT," blooming like a
rose, beautiful and graceful and per
fect in proportion. It is the prettiest
little novelty that has ever been in
troduced. RANGING FROM 50c TO $1.50.
EISNER & PUPS,
UNION CLOTHING HOUSE
CORNER
Fifth Ave. and Wood St.
mh!843-KT
KEECH.
As a Magnet Attracts Steel,
So Do OUR MARCH TERMS Attract Customers!
On a bill of $10, $i down and 50c a week.
On a bill of 25, $5 down and $1 a week.
On a bill of $o, $& down and $2 a week.
On a bill of $75, $10 down and $2.50 a week.
On a bill of 100, 10 down and $3.50 a week.
AND BESIDES THIS WE GIVE
With each lot of goods amounting to $25 a Costumer, or Hat Tree,
in Oak or Mahogany, worth $4.
With each bill amounting to 50 a solid Oak Chair,in all styles of finish,
with silk plush upholstered seat
With each bill amounting to 75 a pair of Lace Curtains worth 5.
With each bill amounting to 100 a 10 Center Table.
NOTTINGHAM
LACE CURTAINS,
The prices ranging from $1 to
$18 per pair. Mail orders
from catalogue shipped prompt
ly jrom ajull stock.
0. Mcintt I Co.,
33 FIFTH AVE.
4 - mhSl-jrwx
KEECH,
923, 925 AND 927PENN AVENUE.
mh-16xw
COMFORT
GIVING
CORSETSI
THIS week we make special offer
ings inthevery
best makes
of c or s e t s.
Every woman
who wears
"stays" and
what woman
does n't?
should come
and see our
assortm ent
and note the
money -saving
prices. Every
pair sold this
week will be the best kind of an ad
vertisement for this department. In
fact a great part of our business comes
n this way. One lady who secures
good value for her money tells an
other, and so it goes. Recollect, we
don't handle the inferior makes of
corsets. No matter what kind you
buy, satisfaction is guaranteed.
ALWAYS POPULAR Her Majes
ty's Corsets, Thomson's Glove-Fit
ting, Balls', Kabo, Sateen and Hisjh
Bust, Dr. Warner's Health and Cora
line Abdominal and Numng Corsets,
Madame Warren's Dress Form Cor
aeti, white, drab and black; B. &G. best 75c,
fl and tl-CO corseti; C R and P. D. French
Corsets, Common Sense French Woren Cor
sets, Ferris' Waists for ladies, misses, chil
dren and babies, Featberbone Corsets and
Waists. Our assortment of 50c, 75c and 51
Corsets is undoubtedly the best in the citr.
These popular-priced Corse ta come in white,
drab and black. They are worthv tha nttn.
tion of every economical -woman. Special
bargains In large size woven and sewed
Corsets at 38c andSOc. The best Children's 25a
Waists to he found In either city. Full
lines 01 ureas forms ana sarety .Belts.
nil I AITlinuTIDnS ArtDeprtment.Be
sure to make Inquiry for ome of the follow
ing articles. Toil don't need to buy, but we
want von to get an Idea what the word "bar
gains" really means with us:
SG-inch Tinted Canvas Squares, 95c; reduced
from $1.75.
22-tnch, Canvas Squares, 15c; reduced from
95c.
20-lnch Hemstitched Table Squares, 85c; re
duced from 50c.
32-lnch Hemstitched Table Squares, 62c; re
duced from 85c.
Hemstitched Tray Covers from 25o up.
86-inch Hemstitched Table Squares, 85c; re
duced from $125.
52-lnoh Hemstitched Scarfs, 72c; reduced
from $1.
72-lnch Hemstitched Scarfs, 93c; reduced
from $1.35.
Jlomle Scarfs38c to $1.25.
Fancy Screens for Tidies, 18c to 50c.
jiiy
burg and Allegheny, we shall be
Nevertheless, we shall not sit down
to wait for sunshine and roses.
Haven't the patience nor the inclina
tion to wait. We have a big spring
stock of Men's Clothing, and we
want to sell it let the weather be
what it may. Of course, our prices
will suffer, but we can far better
afford to stand a loss than enforced
idleness. So, while the Snow King
may reign without and "winter linger
in the lap of spring," we shall do
some tall hustling cutting down
prices and moving out spring suits.
We will offer inducements so great
and extraordinary as will create a de
mand for spring garments, in spite of
the backward season.
Below we mention a few examples
of this anti-weather movement this
fight of low prices against the ele
ments. If economy and shrewdness are
characteristics of the people of Pitts-victorious.
1,000
Men's fine Spring Suits, in Sack and Frock styles,
made of stylish Cassimercs and Cheviots, should
have been sold at 14, but in order to counteract
the influence of the unfavorable weather, will go at
1,000
Men's very fine Cassimere, Cheviot and Worsted
Suits, cut in latest spring styles of Sack and Frock
shapes, newest patterns: were intended to be sold at
$18, but will now, under the circumstances, be sacrificed at
1,000
Men's highly elegant Sack and Frock Dress Suits,
made of choice imported materials, and equal in
every respect to ordinary custom work; would have
been considere d cheap at $20, but in our fight against wind and
weather, we shall let them go at
$10
$12
$15
SPRING OVERCOATS
HAVE FARED EVEN WORSE.
We begin the season with reductions hardly, if ever, equaled at a wind
up or closing out sale. Gentlemen intending to buy Spring Overcoats will
save from 25 to 33 per cent by buying now, instead of waiting till the
spring weather sets in.
KAUFMANNS'
Fifth Ave. and Smithfield St
BTEAMKTtS AND EXD3IOX3.
NETHERLANDS LINE.
SAILINGS FROM NEW YORK:
March 19. 9 A. K. Saturday. WKHKZMDAM.
March 2S. 3r. M. Satnrdajr, VEKNDAM.
Steapiers marked sail to and from Amsterdam;
all others to and from Rotterdam.
From Pier, foot of Fifth street, Hoboten.
First cabin, t to $35; second canln.tK. Reduced
excursion tickets, bteerago at low rates. For
Illustrated aulde and nassare aoolr to JOHX J.
MCCORMICK. OX) Smlthlleld street; LOUIS
MOESER, SIS Smlthlleld street; MAX 3CHAM-
CD,
A31TJSEMESTS.
Sitesk
BEKGJ
, SI7SmltlifleM street.
mh!4-D
A
n aMw i
ma mwr iL'vt m i sv
CtTNARD LINE NEW YORK AND LIVER
POOL. YlA QUEENSTOWX-From PJeMft
North rirer. Fast express mall serrlce.
Xtrurla, March 20.3 p.m. I Etrurla, April 23. 2 p.m.
Aurania,Apr.z,9:wa.m. i Anrania, April 30,8a.m.
limbrla, AprU , 3 p. m. I UmDria, May 7, 2 p. m.
Serrla. April 18, 8 a. m. Serrla. Stir 14. 7 a. m.
Cabin passage. KO and upward, according: to lo
cation; second cabin, $3
Steerage tickets to ana from all parts of Enrope
at very low rates.
ror rreiirni ana passage apsirto uiecompan
office. 4 Bowline Green. New A ork'. V ERNON
BROWN A CO.. General Azents. or CHARLE3 P.
SMITH. TWrU ar. and Wood St.. Agent for Pitts
burg, Pa. mb21-D
h!
THEATRE
This reek. Matinee Wednesday and
Saturday.
JOHN T. KELLY, In
U&I.
March 23 The Devil's Auction. mlrtl-U
DUQUESNE.
Pittslrarjr's
Leading Theater.
TO-NIGHT THE GREAT
HERRMANN
Matinee SatnrdaT.
Flags for the Children.
SEE
"STR0BEIKA."
Next TVeet "Hoss and Hoss."
mh2I-W
Britannic. A Dr. 20. noon
... .r'.
MHajtsiic. Apr. .ipra
y 4.
Germanic
Teutonic. May. II,
noon
4pm
510518 Market St.
WANAMAKER & BROWN.
A Spring Overcoat exhibition extraordinary.
Please accept a special invitation to inspect a quantity
of handsome Overcoats ready to put on. The perfection
attained in production of Overcoats, ready made, is to sell
a high degree that you no longer need to have it made to
your measure.
Several hundred now on exhibition at our Clothing
Parlors. The best silk-lined, finest imported Kerseys and
Venetians, $20 the kind always sold at $30, Elegant
Black Kerseys, $12. The lowest $10.
It is worth your while to see this beautiful display.
39 SIXTH STREET,
Hotel Anderson Block.
ml)9
SILK DEPARTMENT.
Oar stock is right up to date in the matter of latest styles. We are always in the
front rank, displaying all the choicest styles and latest norelties as fast as they appear.
TJXjj vJIpStm
WHITE STAK LINE
For Queenstown and Liverpool.
Royal and United States Mall Steamers.
Britannic, Mar.21,liKlpm
Majestic, Mar. 30.7:30am
Germanic, Apr. 8, 2 p m
Teutonic. Apr. 13, S n in
From wnite star dock, loot or west Tentnst..
New York.
Second cabin on these steamers. Saloon rates.
$90 and upward. Second cabin. U and 13. Excur
sion tickets on farorabie terms, bteerage, from the
old country, $23; from New York, 13).
White Star draft payable on demand in all the
principal banks throughout Great Britain. Apply
to JOHN J. MCCORMICK. - and 401 SmlthlleU
St., i'lttsburg. or H. MAITLANI) KEK3EY. Gen
eral Agent, 'a Broadway, New York. mh9-D
OLD CITY HALL D'ALBERT.
Monday evening, March 21, 8 o'clock.
Only Piano Recital by the Renowned Vir
tuoso, EUGENE D'ALBERT, under tho
manazement of C. A. Ellis. Brilliant Pro
gramme. Tickets, with reserv-d sear, at
$1 S0and$L Sale opens Wednesday, March
16, at S. Hamilton's Music Store, fifth ave
nue. Knabe pianos used at all D'Albert's
concerts. mhl3-113-D
SEE
un
Figured India Silks, handsome styles, only 80c per yard.
Figured India Silks, beautiful designs, at7Bo per yard.
Changeable Glace Silks, in neat figures, at $1 per yard.
See all the new things In Figured Silks, including Changeable Surahs, Illuminating
rioures and Real Japs, ranging from 11 to II 83 rer yard
See our Double Warp Sarah Silks In blaok and colors, at Boo per yard, real ralue, 75c.
We Guarantee Profit and Pleasure to Every Customer.
PROFIT, because our prices will prove a positive saving to the buyer.
PLEASUBE, because our goods cannot fall to please In quality and style.
DOUGLAS & MACKIJE,
151, 153 AND 155 FEDERAL ST.. ALLEGHENY.
abll-siw
- 1
EVERYBODY TUMBLES
To the fact that my prices for watch repair
ing are the lowest ever known in history.
WATCHES CLEANED, SO Cents.
MAINSPRINGS, 60 Cents.
CASESPEINQ8, 50 Cents.
NEW JEWELS, 50 Cents,
And all other work in proportion.
OCR LADY WATCHMAKER
and engraver, Miss Rosa Hardman, is the
only one in the United States. Bring your
watoh and let her fix It, I will continue to
sell finest Nlokel, Bronze and Steel Frame
Eyeglasses and
SPECS FOB 60 CENTS.
Finest pebbl lenses, generallr sold from
1 SO to SO. EYES EXAMINED-FREE OF
CHARGE.
BERNARD E. AR0NS,
J-wabi,
65 FIFTH AVENUE.
Btfdtorwnu
ANCHOR LINE.
Steamers Leave New York Every Saturday
For Glajgow via Londonderry.
Rates for Saloon Passage V and upward, accord
ing to accommodation and location of room.
Second Cabin. SB. Steerare, 119.
MEDITERKANEAN SERVICE:
NEW YORK TO GIBRALTAR AND NAPLES.
Cabin passage, tao to f ICO.
Paaiengers booked at through rates to or from any
city in Great Britain or on the Continent.
Drafts on Xondon Sold at I.owest Rate.
Book of Information, tours and sailing lists fur
nished on application to Agents.
HENDERSON BROTHERS. 7 Bowling Green. N.
Y.. or J. J. MCCORMICK. 633 and 1 Smllhnelit St.
A. V. SCORER A feON. 1M Water St.. opp. B. A
O. depot. Pittsburg; F. M. tfEMl'LE, 110 Federal
St.. Allegheny. nol6-ll-Mwr
Norddeutscher Lloyd Steamship Company.
Fast Line of Express Steamers
New Tork to Southampton (London), Bremen.
SPRING SAILINGS, ISOi.
Ems. Sat.. April 1 Trave, Tues.. May 21
Havel, Tues., April 5 Ems., Sat.. - May 29
Saale. Cat.. April 9 Havel, Tues., May 31
Lahn. Tues., April 12 Saale. Sat.. June 4
Elbe. Sat.. April IS Lahn. Tues.. June 7
Spree. Tues., April 19 fclbe. feat.. Jnne 11
Alter. Sat.. Aprils spree, Tues.. Juna U
Trave, Tues, April Aller. tat.. Jnne li
Ems. Sat.. April 30 Trave, Tues., June 21
HaveU Tues.. May 3 Ems. Sac Jnne 2S
Saale,' Sat.. May 1 HiveU Tues.. June 23
lahn, Tues, Mav 10 -.aale. Sat.. July 2
Elbe. Sat.. May M Lahn. Tues.. Julr 5
Spree, Tnes, May 17 Elbe. Sat.. Jntv 9
Aller. 8at., May 21 Spree. Tues.. July II
Time from New Tors: to Southampton, 7H days.
From Southampton to Bremen. 24 or 30 hours.
From Southampton to London, by Southwestern
Railway Co.. 2t hours. Trains every hour in the
summer season. Railway carriages for London
await passengers In Southampton Docks on arrival
of express steamers from New York.
These steamers are well known for their speed,
comfort and excellent euls'ne.
MAX 8CHAMBKRG CO.. IV Smlthlleld St..
LOUIS MOSEK, 61S Smlthlleld st, J. F..ERNY
Cashier German Savings and Dep. Bank, Agenst
. or Pittsburg laa-p
THE ALVIN THEATER
C1IAS. L. DA VIS. ...Owner and Manaeer.
Special Engagement and Farewell Appear
ance ofMME. SARAH BERNHARDT, under
the Direction of Henry E. Abbey and Mnnrice
Grau. Repertoire: To-niuht, LA TO?CA;
Tuedav. LEAH, THE FORSAKEN: Wednes
day.FEDORA: Tnursday, CAillLLE; Fndar
Evening and Saturday Matinee, CLEO
PATRA. Saturday evening farewell night.
Prices, $3, 52 BO, ti ana SI 30.
March 23 De Wolf Hopper in "Wans."
mh2W7
G1
KAXD OPEBA HOUSE.
TO-NIGHT.
O'DOWDS
NEIGHBORS.
Mark Murphv. Sam J.
Ryan, Lottie Gilsou and
Company.
Prices 15. 23, 50, 75c.
Mat. Wed. and Sat.
25, COs reserved.
Next week "The Vendetta."
mb20-75-D
"LD CITY HALL
THURSDAY EVENING. MARCH 24.
SCHUBEET MALE QUARTETTE.
Reserved seats now on sale at Lechner a
Schoenberger's 69 Fifth avenue. Tel. 811.
mu20-29
AUDITORIUM
GRAND CAKE WALK
Thursday. March 24, under the manage
ment of W. A. Brady. J1.000 in prizes.
Seats on sale at E. P. Ecker Cc's Jlusio,
Store, 75 Fifth avenue. mh21-12
H
AERY WILLIAMS' ACADEMY
To-Nlght and Matinees
Tueday. Thursday and Satnrdar.
II. W. WTI.flTAMS' OWN SPECIALTY CO.
Frank Bnh, Acme 4, Juleeue's Electric
Organ, and 20 flrst-cla itars. mh20-lS3
HAIR
Wet London Ruf ply Co, K3 B'i
UTS' nu am, Bwt CCBZ
uril Ttll''mRatedtoK.
ntAL 1 n new youthful color
and life to OMf Hair. Dw only
moss Mtisiactoryuair grower.
dwaT,.N.J.liairDoo:rrj
UTS' IIU CSSKS. Bwt CCBZ rarCsru, Sums, Isle. JM.
Sold by JOS. FLEMING A SONS and drug
gists. my2V51-xThxoaa
THE ALLEGHENY BRANCH OFFICE
OF THE DIBPATCH AT
107 FEDERAL ST.
Is open every day except Sunday until 0 P.
M. Advertisements will be received up to
that hour for insertion the next morninS at
regular rates.
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