rv
THE SCR ANTON TRIBUNE-THURSDAY, MAY 3, 1900.
;
THE DYING CENTURY
PASSfcD IN REVIEW
NATUIIE'S LEGACY FOUND UN
DER THE SOU.
Biches Have Como and Aro StlU to
Como to Those Who Dig find Drain
for the Mlnerrtl Wealth Imbedded
In Mother Earth.
Krom tlic Chicago limes Herald.
Kor the new century the term "min
eral development" will have a broader
meanliiR than It hud a hundred years
ago. The growth or the mechanical
aits has nmdc necessaiy a scoro ot
minerals which were utmost unknown
to the lust generation. Asphaltum,
gypsum, graphite, asbestos, metallic
paint, manganese, antimony, platinum
these are among the comparatively
new substances w hlch engage the ef
forts of the miner and which have
becomo common to tho needs ot tho
peoplf. And these nre but Incident
In tho mineral development of the
world.
From the time of Solomon gold has
been the chief quest ot the miner, in
spite of tho truth that the world's
coal production each year In fabulous
ly more valuable. In tho United
States, from 1SSS to the discovery ot
gold in tho Klondike tountry, tho
production of gold was steady at an
acrago of $33,000,000 a year, vhllo tho
thirty-live Btutes and territories that
produce coal have been yielding) $175.
000,000 annually.
SOUTH AFRICAN FIELDS.
As between tho modern coal mining
and the modern gold mining there Is
small choice In method. Ono Is about
as humdrum as tho other. New gold
processes enable tho minor to work
profitably ores such as were dumped
as -worthless "tailings" twenty years
ago. The greater part of tho gold pro
duction of the world is from deep
mines, bearing low grade ores that re
spond to economical treatment. The
Klondike and the South African Cape
today hold most of the promise to him
who would seek gold In the old poetic
romantic way.
The gold fields of tho VVUwatersrand
rival those of California In tho palmy
days of '49. They were discovered In
1 1JS3, and Johannesburg sprang Into
' being with the magic of a San Fran
cisco. Gold In the Sutherland hills,
In 1S70, had pointed to the riches of
the itand. Now tho workers of tho
Hand mines aro figuring upon shafts
5,000 feet in dcpth an indication of the
capital that may bo necessary Eoon
to operate the diggings. Even In
South Africa the history of California
may be repeated when greed for gold
has peopled It- For following the great
stampede for gold In 1843, It was dis
covered th.it tho wheat crop of Cali
fornia was more valuable than the
riches of Its mines.
Of silver the mines of the United
States and of Mexico produco a largo
pereentago of tho -world's output. In
tlio United States tho production of
silver has Increased steadily since tho
'fiO's, In about the samo proportion
tha the gold production has Increased.
Like the mining for gold, tho modem
processes are stripped of nil that is
romantic, while as compared to the
value of iron products, silver Is sec
ondary. Within the last 100 years the United
States has taken fcccond rank in the
piuduitlon ot Iron ores. Great Brit
ain leads with 15,000,000 tons, the Uni
ted States falling slightly behind It.
Germany ranks next, followed In order
b Spain, Franco Austria-Hungary,
liuxsla and Sweden.
Michigan leads the United States In
ptoductlon far beyond all other states.
Alubama and Pennsylvania are cloe
competitors for second place. Twenty
six states and two tonltorles are Iron
pioducers. In the Lake Superior coun
ty, however, the business ot iron
mining has marked tho whole country
with Its canals, locks and Immense
ducks for storage and shipment. Yet,
with all of this production, tho United
States Is an Importer of Iron ores
above $1,000,000 annually,
PRODUCTION OF COPPER.
Iron-making processes hae been
revolutionized within the last fifty
years. New furnace methods and new
forging machinery have worked won
ders for the trade, cheapening the
product even in the face of an in
ci eased demand.
Since 1SS0 tho United States In tho
production of copper has led the world.
Electricity has emphasized the de
mand for tho pioduct, and In copppr
wire alone a vast proportion ot the
250.000.000 pounds produced In the
United States is made up. Montana
has taken tho lead over the Lake
Superior country, -with Arizona hav
ing second place. Still, tho Calumet
and Heola of the upper MlclUgan pen-
Walking to work
Is the only way in which the business
woman, employed in store or office, can
get open air ex
ercise. Is it any
wonder that she
often grows pale
and thin and
develops a tend
ency to "weak
lungs." When
ever there is
pain in breath
ing, soreness of
the chest, obsti
nate cough,
bleeding from
the lungs or any
other symptoms
of disease of the
'respiratory or
gans, begin the
use of Doctor
Pierce's Golden
Medical Discov
ery and con
tinue the use
until cured.
Ninety-eight in
rvery hundred
who have used
"Golden Med
leal Discovery"
for "lung trou
ble," have been
penccuy a n a i
permanently
cured. W
I mi Tery sick
Indeed," write
Mri. Mollie Jacobs,
ofFelton.KentCo,
Delaware, "and
our family doctor
aid I had con
gumption. I
thought I must die
aoon for I felt ao
awful bad. Had a
bad cough, spit blood, and was very short of
breath. I had pains in my chest and right lung,
also had dyspepsia. Before I took your ' Golden
Medical Discovery ' and ' Pleasant Pellets' I was
o weak I could not sweep a room, now I cau
do a small washing. I feel like a new person."
. Dr. Pierce's Pelleti cure heart-burn.
Insula Is tho greatest single copper
mine In tho world. Nearly $100,000,000
Is Invested In copper mining In the
United States,
Lead production In tho United States
has grown from 1,500 short tons in
1823 to mora than 200,000 tons In the
present. This, becauso of a mixture
with silver and other metals, has a
distinct bearing upon the production
of other minerals. Zinc, nickel and tin
have been added to tho mineral nssetn
of tho counti-y and aro included In
the annual showings of wealth from
metals.
No gold excitement, perhaps, ever
exceeded the stampede that followed
the discovery of oil In tho Drake well
at Tltusvllle, Pa., In 1859. Petroleum
became the shrine of adventurers and
the phraso "struck oil" became a dis
tinct Americanism. Following tho
Drake well the whole country was
prospected for the dark, viscid, 111
smclllng fluid. Owners of worn-out,
rocky farms became rich In a night.
Fortunes were made and fortunes lost,
for every state In tho union was
searched for tho black oil.
OHIO AND INDIANA OIL.
In 1885 nn era was marked In oil de
velopment in the discovery of the
Trenton limestone and the develop
ment of the Lima, Ohio, oil fluid.
Within a year tho Indiana field was
opened and the scenes that had been
enacted In Pennsylvania were duplicat
ed In the middle West. At the present
the Lima field Is the most productive In
the United States in a total of 50,000,
000 barrels a year.
Oil development In this period ha3
been scarcely more than the develop
ment of oil In a commercial sense. As
compaied to crude petroleum the
philosopher's stone of tho ancient Is
nothing, it has been a mine In Itself
to the chemist, yielding a t-coie of by
products that ato of great valu to ihe
ui ts.
Natural gas as a discovery has been
scarcely second to oil in Its mportance
and In the rush that It occasioned. It
was first discovered at Ficdonla. N.
Y in 1821, and on the occasion of La
fayette's visit to America in 1821 Fre
donla received the French p.itilot with
an illumination from its gas well. In
18S5 the Fredonla product aggregated
6,000,000 cubic feet.
In tho Kanawha Valley In 1841, Wil
liam Thompklns dlseoveied a jet of
gas escaping from the locks 'uboe his
salt woiks. Using a hogshead as a
reservoir, he piped the gas to his
pons and made the first use of the fuel
In boiling down salt. The flist pipe
line for gas was laid in Dutler, Penn
sylvania. In 18S3 gas was piped Into
Pittsburg from the Murryvllle district
and tho possibilities of the new fuel
were demonstrated The development
of the Indiana gas field has been too re
pent to call for more than passing men
tion. Its most striking featuie has
been In the readiness with w hlch an
agricultural country has been turned
Into manufacturing as a chief industry.
IMPROVEMENT IN METHODS.
Throughout this development which
has made tho mineral resources of a
country one of its chief sources of
wealth, Inventor and skilled ciaftsman
have been busy. Mining methods
havo been simplified and cheapened
from tho taking of ores fioni the
ground to the finishing of the market
product. The pipe line has widened the
geography of oil and gas deposit".
Rapid nnd cheap transportation has
made coal a universal commodity. Mi
ning machines are doing the work of
picks and shovels, and mining machin
ery has been perfected to a remai li
able degree. This machinery has made
ventilation possible In deep mines, an 1
today men are working nearly a mile
below the surface. New processes
have enabled one of the greatest gold
mines in the world to handle ore that
only a few years ago would have leen
deemed worthless. In like manner
ores low In other metals aie work"d
profitably and from clns that would
have been Impossible before the advent
of machines. Machine mining has
mado the thinnest of coal veins profit
able. And so all along the line, until
In spite of the mining rushes that
spring up and die out economic pro
cesses and tho perfection of machin
ery seem to promise to the world a
steady stream of mineral wealth (low
ing Into her lap. The extravagance of
mining has been tho example set In the
now gold fields of the earth; the econ
omy of mining has resulted from that
pxre&s. In kills economy has come
the bober, steady pace of method whleh
Is promising to the new centuiy that
the earth has not been despoiled of
riches that lie to the hand of the miner.
It Is only that the last century has
put the stamp of business upon an In
dustry that onco was scarcely moiu
than a gambler's chance.
THE REAL AGUINALDO.
salaaaaaaaaaC&&?'9bSBaaaamBBaaaaai
SBaaaw. J$$9m
in
ill
Dewey's Navigating Officers Sums
Up His Character.
Lieutenant1 Commander Calkins In Alnslee'i.
"Kmillo Aguinaldo Is a Tagalo of the
Tagalos, a municipal captain and the
son of a municipal captain. He was
born in Cavlte Vlejo, and became the
chief magistrate or that town before
reaching the age of twenty-seven. A
few months later he tried to muke his
birthplace the capital of an Oriental
republic. Heforo tho end of 1896 he had
beaten the forces of Cuptaln General
Rlanco in two brisk engagements, and
snatched the reins of authority from
the feeble hands of the Katlpunan
cabinet. His financial affairs have also
a place In history. Upon his marriage
in 1896 ho borrowed a few hundreds of
dollars to provide a home. In 1897 the
Spanish authoiltles.after offering thou
sands to get him killed or captured,
promised millions to induce him to he
come an exile. Under some pressure
from defeat and pilvatlon. a ticaty was
accepted, and the 'leaders sent to Hong
Kong In Junuui-N. I8s. The Km-Uai,
courts limited Agulnaldo's share of tho
muemniiy to less than three per cent,
of $400,000 In 'Mexican silver. But the
fund was kept intuct, and employed
for the purchase of arms wnen Span
ish duplicity and Admiral Dewey's vic
tory justified the revival of tho Insur
rection "Fioni his bhth In 1869 to his as3ump
tlon of authority in 1896, Agulnaldo's
career was commonplace. Ho did not
go ubroad for education or adventures.
The photograph of a Chinese sailor has
been published as evidence that he
served under tho dragon fiag. In re
allty, ho went to college in Manila, but
failed to win a decree from Ihls clerical
masters-probably because he did not
attain perfect command of the Span
ish language. For a few years he had
obscuio employment near home. It is
said that he was a schoolmaster, a
clerk in a store, or a writer at tho
uavul arsenal. Ills public life began
when the twelve electors chose him to
succeed his father In tho onerous and
unprofitable cares of a municipal cap.
tain. Since his icturn from exile he
has never lacked funds. Taxes have
been levied and contributions offered
by rich and poor,' The congress founJ
I ''xVrL
VSv- r-?aaa4WH fWAi&SSZ&Rr---- i Cff-TIKV " 'iiiZZ&EttMii&SitSS JXJTS ""Ta
VKC ' ' " ' ' 1 ' .TlaaaI ftiv f Jl MJm IVvSZS- " I - m '
ram&, jtemBtt&xs&t rG&7tfZiyffikGJ& J
WsTKQQfL7 7 ACtiiSiZ-
QO
AillLDIr
i$rv 4oaxi45FEE
1'
'lKM9;
.rirz- " iinv x wi rcc-
!,- I"' kO
' FLOOR. SPACE 13 ACRE.
Prospectus of the SiegelCooper Co.
CO-OPERATIVE STORES, NEW YORK AND CHICAGO.
Profit-Sharing with our Patrons. Co-operation with our Employees.
THE great success attained since 1887 by Siegel, Cooper & Co., has induced and given warrant to the enterprising
owners to further ingratiate themselves into public favor by consolidating their two mammoth establishments into
a co-operative enterprise on a profit-sharing basis. They recognize the tendency of the present age to be in the
direction of co-operation of employers with employees, as well as in profit-sharing with patrons. To accomplish this
desired condition, a new Company, the Siegel-Cooper Co. (Co-operative Stores, New York and Chicago) has been incorporated
under the laws of the State of New Jersey with a capital stock of $24,000,000.00, of which $14,250,000.00 is divided into
285,000 shares 6 per cent, cumulative Preferred Stock of $50.00 par value, and $9,750,000.00 into 195,000 shares Common
Stock of $50.00 par value.
The charter of the Company provides that, after full dividends of 6 per cent, per annum have been paid on the
Preferred Stock, and full dividends of 3 per cent, per annum have been paid on the Common Stock, all additional dividends
shall be apportioned and paid on the basis of j in amount on the Preferred Stock and in amount on the Common Stock.
To carry out the plan of
wuubiaiiuu
with its employees, $2,000,000.00 of the Com
mon Stock has been placed in trust, the annual
dividends of which will be distributed among
such employees as have been or may hereafter
be with the New York or Chicago establishment
for a period of three years during their satisfac
tory continuance in the service of the new Com
pany ; such dividends will also be continued and
paid to employees for life who, after ten years
of service with the new Company, becomo inca
pacitated for further employment, thereby practi
cally providing a pension fund for faithful
employees in their old age.
To carry out the plan of
Profit-Sharing
it is proposed by the present owners, who are
the owners of all the stock of the new Company,
to offer to the public through the undersigned,
200, 000 "shares (fully paid and non-assessable)
of the 6 per cent, cumulative Preferred Stock at
par, upon which the full 6 per cent, dividend
must always be paid before the Common Stock
receives any dividend whatever, the Preferred
Stock also having a prior right to all the assets
of the Company.
In order to give doublo assurance to the
general public, whom it is desired to interest as
Stockholders (instead of Speculators) and who
may not be fully conversant with such invest
ments, the money required to pay dividends
on said 200,000 shares has been set aside and
will remain on deposit with the Central Trust
Company of New York, and the Illinois Trust
and Savings Bank of Chicago, respectively, to
secure the dividends of 6 per cent, per annum,
payable 3 per cent, semi-annually, for a period
of five years, . e until July 1st, 1905, on all
such Preferred Stock as may be allotted in their
respective territories, and each Certificate of
Stock so allotted will have an endorsement by
said Trust Companies, respectively, to that
effect. We thereby offer, we believe, not only
an absolutely safe 6 per cent, investment, but
one which will without question yield consider
ably more.
Under no circumstances"
will any
of the Preferred Stock not so allotted, nor any
of the Common Stock, be sold, the present
owners having no desire to sell out, but intending
to remain with the business; 'they will therefore
not part with any more stock than the believe
necessary to fully carry out their plans for co
operation and profit-sharing, as previously stated.
The owners confidently believe that, by in
augurating the liberal pclicy above outlined
towards their employees, Uicy will in return be
rewarded by more faithful service, and courteous
attention to patrons, the result cf which must be
beneficial to the new Company as well as aug
ment the continued good will of- the public.
Furthermore, it can foe calculated
to a certainty
that with many thousands of new stockholders
exerting their personal influence toward the suc
cess and welfare of the business, larger patronage
and correspondingly greater earnings for the
new Company will be assured. It is from the
increased benefits and matciial advan'ages which
these changed conditions are expected to bring
about, that the present owners feel confident of
better pro rata remuneration on the stock which
they retain, and in a measure justifies them in
parting with any portion of their interests in an
established and exceptionally profitable business.
The SIEGEL-COOPER" CO. co-operative
Stores will take possession Monday, July 2d, 1900, of
the two great department stores of Siegel-Coccr
Co., New York, and Siegel, Cooper & Co.,
Chicago, in their entirety, covering a floor space
of over thirty acres, with their millions of dollars'
worth of Merchandise, Store Fixtures, Delivery
Plants (consisting of many hundreds of Horses,
Wagons, etc.), Machinery, extensive Stable
Properties, and all the appurtenances required
for the complete operation of the two stores,
and also its Palatial Fireproof Store Building and
Real Estate in New York City, which alone repre
sents an asset of many millions of dollars, free
of all encumbrances or indebtedness whatsoever,
so that the Siegel-Cooper Co. (Co-operative
Stores, New York and Chicago) will start its
career without owing a single dollar.
For the good and sufficient reason of not
wishing to divulge the details of our business to
our competitors, we present no balance sheet for
publication. We do not however, desire to ask
our patrons or the public to rely exclusively on
our representations, and, therefore, the money
required has been set aside and will remain on
deposit with the above-named Trust Companies
to absolutely secure the dividends on all the
Preferred Stock to be allotted as stated. More-
over, we allude with pride to the fact that tho
Chicago establishment has since its inception
paid millions of dollars in dividends to its stock
holders, and that the New York establishment,
while only in its fourth year, is not only doing
a larger business than the Chicago store, but ia
also on a most profitable dividend-paying basis.
We can also say for the benefit of subscribers,
that the net earnings of our two establishments
for the past year were largely in excess of tho
amount required to pay the dividends on all tha
Preferred Stock of the new Company.
There will be no change
in management,
and the same men who thirteen years ago started
the original Siegel, Cooper & Co. store in
Chicago (and later its sister-store in New York)
and who have achieved a success almost without
parallel in modern retailing, have pledged them
selves to continue in the management of the
business of the new Company the same as in the
past, and they will deposit with the Central
Trust Company of New York, all of their stock
holdings for a term of years to secure such
pledge.
Subscriptions for the 200,000
shares of the Preferred Stock
will be received in person, or by mail, on blank
forms provided for that purpose, by the Central
Trust Company, 54 Wall Street, New York, and
Siegel-Cooper Co., New York and Chicago,
beginning at 10 a. m. Monday, May 7th, 1900,
and will continue for a period of One Week ; the
right, however, is reserved to close subscriptions
upon one day's notice in the New York and
Chicago daily papers. The above Trust Com
pany, for the convenience of our patrons and
the public, will receive subscriptions at the
Siegel-Cooper Co. store in New York, or at its
own office, 54 Wall Street. All subscriptions
must be accompanied by money, check, money
order or draft, payable to the Central Trust
Company of New York, to the amount of 20 per
cent, of such subscription (equal to $10.00 per
share), for which proper receipts will be given
by said Trust Company. Notice will be given
as soon as practicable of the number of shares
allotted to each subscriber, and the balance due
must be paid to said Trust Company on or
before July 5th, 1900, upon the delivery by
said Trust Company of the stock allotted.
s
o
3
U
a
s
1 5
o
" w
.Q 3
W C
O 19
u
u
2
o
e
Date, .
.1900.
To the CENTRAL TRUST COMPANY OF NEW YORK,
54 WALL STREET, NEW YORK.
Enclosed please find $
being 20 percent, first payment upon
(FID la amount) (Fill la number ot inirei)
shares of tho Preferred Slock ot the Siegel-Cooper Co. (Co-operative Stores, New York and Chicago), for
which I hereby subscribe, and promise to pay to the Central Trust Company of New York, at Its ottice, 54 Walt
Street, the balance due on shares of the stock allotted to me on or beforo July 5th, 1900.
Name-
Street Address.
Town
.State.
With a view of extending the benefits of our
offer to as many of our patrons and the public as
possible, it is proposed to allot the stock In tha
following order, namely:
ist. To all subscriptions for one share ;
3d, To all subscriptions for two shares ;
3d. To all subscriptions for three shares ; ,
and to continue In the same order for larger sub
scripiions until the entire 300,000 shares bavs
been allotted.
Respectfully,
SIEGEL-COOPER CO.
(Co-operative Stores, New York and Chicago.)
time to vote their president a civil list
of $50,000 and an allowance of $23,000
for reprenentatlon, that 1b, for display,
dutlnc each fiscal year.
"Yet there is no evidence thut his
personal tastes nro extravaRant, or
that he has ever Indulged In tho van
ity of pxcluslveness. His political
career, under tho titles of nenerallaal
mo, dictator und prerldent, shows
readiness to assume responsibility and
a tendency to nesert his own will. His
tlrst proclamation, dated October 21,
1896, summoned his people to achieve
Independence under a constitution like
that of the United States, nnd the
strictest principles of liberty, equality
and fruternlty. Similar proclamations
In May, June and July of 1S9S contain
ed declarations of Independence aivl
directions for applying the military
nnd municipal codeb of Spain under
dictatorial .authority. Ho did not like
the parliamentary constitution udont
ed by the coiiKiess becauso It made
tho cabinet responsible to tho repre
sentatives of the people, preferring to
keep them in dependence udoii his
prsonal will,
"Tho data, for a. flual cutliuata at
this agent of destiny remain beyond
our reach. He has never been con
victed of corruption or cruelty. Ills
treatment of Spanish prisoners wus
humnno and even generous compared
with that which Spain has given her
rebels In any civil contest ot tho nine
teenth century. In July, 189S, many
prisoners captured by tho American
forces were placed in custody. Hut
he has not been uble to guide his peo
ple Into paths of peace, and his season
of authority seems tending toward a
tragic termination. When darkness
ha encomiuuuied him, tho historian
may say of him, as Carlylo said of
Danton, that ho walked straight his
own wild road, whither it led him."
"PCnSRVERE AND PROSPER."
Take Hood's Sarsaparllla faithfully
and it will euro scrofula, salt rheum,
bolls, pimples and all blood humors;
also dyspepsia, rheumatism, catarrh
and that tired feeling. It never disap
points. Sick headache Is cured by Hood's
Pills. 25c.
A Safe Thing.
Mlll)wi Wly do you tlilnk ha uoulil maVo a
rooiI coklilcrf
Confide ntU! it an liter hear liim tell aptoryt
MllljuiuKo.
Confidential JUn He couldn't fololy b
thoit in bl accounts. New YoiV lVcsi.
Complete.
lUrdupr You admtUe that jou buy booki,
Whjt'll jou gle me (or this cue?
Hoalir -Wo don't want anything less than a
whole library.
Ilarduppe Well, this It my whole library
Philadelphia Trets,
! .