Logansport Pharos-Tribune from Logansport, Indiana on April 5, 1894 · Page 4
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Logansport Pharos-Tribune from Logansport, Indiana · Page 4

Logansport, Indiana
Issue Date:
Thursday, April 5, 1894
Page 4
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John Gray's •CORNER" §«« ON FIVE CENT GOODS. LOOK IN OUR NORTH WINDOW AND SEE HOW MANY USEFUL ARTICLES YOU CAN BUY FOR FIVE CENTS. WE WILL SELL YOU MORE GOOD GOODS FOK A NICKLE OR A DOLLAR THAN ANY OTHER HOUSE IN THIS PA11T OF THE STATE. COME AND SEE US. if. Henderson & Sons OV FURNITURE, ftND UPHOLSTERS. Ho. 320 Fourth Street, tOGANSPORT. IND. - JJACTOKY; - f os. 5, 7 anfl 9 Filth Street f. M, BOZER, D. D. S. DENTIST. fie "Hale Palntess Mefflou" used in the flillDfl of leetn. Mflee Over stale National Bank nwmer Fourth and and. Broadway ^^^__ !g DAILY JOURNAL^ roUihtd erorf da j In the week (except Monday .._ «.. trwiiMawlRTMOtniNAL, CO. ~ . $6.OO . . 5O fax OFFICIAL PAPER OF THE Cm. Hntered luTnecond-cliuMi matter at tbe Logans- •pwt to*t Office. February ». 18 °°-J Annum Price per Month A STUDY IN FINANCE. The facia brought out In our Issues ot Monday and yesterday regrardinff the ga* "deal" at Lifayette affords muoh fo«d for thought, says the lodl- anapolis News. Let us briefly re- bearae the story. Five or ilx years ago a company was formed to pro- Tide Lafayette with natural gas- The amount of stock ww $400,000. This, It hat been understood, was all paid up, tnourt there wa» some hints now that norne favored ones did not pay In full. Tbe rales charged for gas were made 50 per ceni higher than In Indl- anapolls. So large were the profits that tb» men In cont»ol created bonds to the nominal ralue of $600,000, which were distributed pro rata among the holders of stock. On these bonds the company paid annually 6 per cent Interest and for two years 10 per cent on liquidation account. Thus up to August. 1893, the company has paid to Its stockholder!) $242,430.90, i»hlch w»« equlTalent to a yearly dividend during the five years of the existence of the company o« a trifle more than 12 per coot, on the actual Investment. For the last two veara, with the payment of the 10 per cent, on the created bonds, the annual return on the Investment wag 24 per cent. No dividends were paid on the sioek. all the payments were on the "created" bonds. In August, with $40,000 In tbe treasury (after paying the 24 per cent, on the actual Investment) the company appealed to tbe city council for the right to Increase the rates 33J per cent., which would make the rates just twice what people in Indianapolis p»y. Tbe council bad "experts" examine Into the conditions of the company and the field. The • experts" saw things in a very gloomy light and reported accordingly, and on this expert (which some people consider short for exjiarte) finding, th« council gave the company what it wanted. Boon after this the mem in control arranged to sell out the company to New Tork capitalist* They were abletomaks a very attractive ihow> lag. The company. »t the old rate*, paying 24 per cent, on the Invert- In the field, the outlook waa most promising. For the property the New Yorkers promised to pay 1650,000. or $250,000 more than had been Invested. Thla was, ot course, a pood invest, mestforthe etockbolders. After the bargain had been made, certain ol tho •lock-holders were left In Ignorance of the fact, while certain otters who did know went about nnd gathered In tho 3tookat low prices. It may show great financial ability for men who are ia control of a company, composed ot their Mends and neighbors, to arrange a aalo of tho company, anO then keep the fact secret from their friends and neighbors while these men are being induced to part with their holdings for less than two-thirda of what they could get had the knowledge to which they were in all decency entitled been given to them. This is tho sort of thing, wo are told, which is comstant- ly done in "deals"; it is the regular thing. The men whom the shareholders in an enterprise elect as their representatives to conduct tho business use their power and knowledge, not for the equal advantage of all the shareholders, but for the special benefit Of themselves or their friends. Nothing was done in the Lafayette ideal" which has not been done over and over again by smart financiers. It is entirely right and proper according to tbe Wall street code, whose Golden Rule Is, -'Do others, or .they will do you." But let ua in contemplating such a transaction not loose our grip of fundamental principles. Whatever Wall street or smart financier* may sav, it is essentially immoral for men to keep their business as- loolates ignorant of a fact affecting their interests while by reason of their Ignorance they are being led to sacrifice their holdings. We should think that way of treating one's friends and neighbors would not be a plonnant thing to recall when meeting them In future. So much for that phase of the question. The New Yorkers bought at the same time the artificial gas plant, paying $190,000 therefor. The total investment is thus »840,000, which represents plants whose actual c«st and present worth, apart from their franchise value, would probably not greatly exceed $550,000. The New Yorkers at once "reorganize" the property, as it is called. They make the share capital $1,000,000, and create oonda for $1,000,000. Of course, on the showing of earnings made *y the old company interest and dividends can be paid on this $2.000,000. But where is Lafayette advantaged? Why, not at all. Through ignorance, or folly, or worse, It has put itself for years in a position where it must pay "earnings" on nearly $1,600,000 of water. Tnis IB only another example of our Inability in this country to preserve to the people in municipalities proper compensation for public franchise or OEATOKY OF KOSSTJTH. Bwlnton Writes of Oooaalona On Wbion. He Heard Him Speak. the right of exploiting of natural mon opolles. It is only when when we iee a brilliant example of "high finance," lika this capitalization of a gas franchise at Lafayette for $1,500,000. or the capitalization of the street railway franchise in Indianapolis for sev«n years at $7,000,000, that we awake to the essential Iniquity of our present ayfltemof giving away public prUll- TllriJIlnc In«l.l«nU °f "'" Vlltit t0 T1 '" Comitl-V—Tim Warrior, tin- 1'lHlon toiillnr. thi< BXIU- •»"<' tl10 Urn-Hi <>r Amoricii. '. 1KM.1 T is us vivid in my ininil its if tiie event were of y u s terdiiy, t, li o fl r s t app e a r a nee of K <> s s u t h in America forty- three years ago. . As another of his a d m i rers has said, the uircnmstances attending his reception constituted one of the most extraordinary spectacles the fcew \Vorld had, up to that time, ever beheld Before his arrival here Kossuth j Ivid figured in the American imagination as the grandest of modern Europeans, us a, man of transcendent genius, as the greatest leader of the warlike Magyars, as an orator who had aroused n'n ancient people to tho assertion of their power, us a statesman of the foremost rank, as a hero who had confronted the armies of Austria and Russia, as tho pioncKV of European liberation, as n. revolutionist who had fallen at a time when victory seemed to be almost won—and, above all, as the foremost living champion of freedom against despotism. From this side of tiro sea we hail watched with ardent hope his valiant struggle in Hungary, had followed through battle and siege from Comoou to Arad, in victory or defeat, the fortunes of its I illustrious leader from the time he proclaimed the independence of his country, was elected its governor, and rallied' his people to vindicate their rights until the time when ruin befell the patriotic cause, nnd Kossuth, overpowered by the hosts of two emperors, sought a refuge in Turkey, upon the .government 'of which country his foes made demands that ho should be delivered up for execution. The tyrant and traitor had won; tho of some Hungarian kind; ne wore a braided and buttoned coat; he had a short cloak flung over his shoulders, and his hat was of that variety which afterward became known as the "Kossuth hat." I myself was then but a youth of unripe imagination; aud, peradventure, if he looked to me like the ideal hero :ind liberator it was because my ynung spirit was lilled with the romance of his history. What a scene of blazonry ho looked I when he landed at the battery, as he stepped under a triumphal arch to tho ; music of many bands, amid the array Of militia, beyond which were the j uxnllant masses of five Americans j hailing his name. It was a resonant i ami flamboyant welcome which was ! given to him by the whole population of the Empire city. Up Jiroaclw.iy, which had been decorated as it never has been since then he rode iu his carriage, standing erect and acknowledging the salutations; down the Howery, which was yet gayer and merrier; onward to the city hall, where ho was once again welcomed with im! pressive ceremonial by the municipal dignitaries. It was Kossuth's first day in America, and the incidents of the day were worthy of his renown. We had traditions of the welcome given to Lafayette by a previous generation when he visited the United States at the invitation of congress; but certainly the brave Frenchman who had helped to win our country's independence had no such reception when he landed here as that of the Hungarian. It seems to me people were far fervent of spirit in those times than they are nowadays. They were a younger and fresher people, prouder of their country and its freedom, more intrepid, sympathetic and aggressive, more desirious of the extension of liberty over the world. Those millions upon millions of immigrants of many races who have come among us since then have, along with other things, operated to bring about marked changes in the characteristic American type. I guess that our country has grown very much older within the past half century. It was the day after kossuth landed that he delivered in Castle Garden before ten thousand people his first American speech, which was followed Highest of all in Leavening Power.—Latest U. S. Gov't Report •••i^aw -^^-w ™- — —- ^^Z^^T Powder ABSOLUTELY PURE i to givu cm account, tucreof must Ue i wholly unworthy of the reality. The scenes in New York at the time of Kossuth's advent in America were repeated almost daily in other cities during tho half year of his American crusade. The exultancy of Philadelphia and of lloston equaled that of any other place; and even Washington was under the inspiration of his presence. Welcomed to the white house by the president; welcomed in both houses of congress; welcomed by the populace; welcomed at an official banquet at which the other eminent figure was "Black Dan," the rhetorician who had oft "shook the senate and fulmined over the union" (not certainly always to my liking); Kossuth was everywhere welcomed with unfeigned American cordiality. He traversed, the land, not in pursuit of fame or any personal advantage, but in search of that practical favor and "material aid'' which his prostrate country was in diw neod.nf The material aid ho trni. \ not, either from the government or tlia as- _„„. ...^.uadTMWol* third, In •plto of poMlblt Inowwe ofexp«ns«JM»i THE Pharos aska the Journal who originated the Erie avenue deal and who is responsible for it. The Pharos ehould answer these questions itself. When the present administration went In and the republicans wanted a few of the important committees the Pharos demanded of Mayor Read that he "pu' nono but democrats on guard" in appointing the committees. Now if the council has not done right the Pharos ia responsible first for urging Mayor Kead to make tho administration democratic and Mayor Read is responsible for heedlnff that partisan demanded. Bead and the Pharos, the Pharos and Read—these are they on whom the burden rests. •THE Pharos, after demanding that Mayor Keed "put wrae but democrat! on guard" and having Us demand heeded, seeks to shirk the responsibility for Ha act. or, rather It is engaged In a cowardly attempt to destroy Its own council. And on the gas question it pretends a change of heart just because an election it coming on. . THE DEMOCRATS HAVE FIVE MEMBEBS OF THE COUNCIL AND WITH THE MAYOR'S VOTE CAN BODY—Pharos, heroic wan had fallen; liberty was crushed. But even then and after that, theory was heard hero in America: AU hail to tho groat Kossuth 1 In course of time we had the happy news that the president of the United States had taken up his case, that the potential roice of Daniel Webster had l«en raided in his behalf, that the senate had invited him to this country as the nation's guest, and that an American warship had been dispatehod across the Atlantic to convey him to our shores. He accepted tho invitation, boarded the man-of-war and set out for America. His arrival here was the signal for the kindling of such fires of American enthusiasm as had never before blazed in that generation. Proudly «p the l&,y of New York advanced the sto'amei amid salutations from forts and fleets, bearing 1 aloft our guardian flag under -which stood America's hon- orcd guest, clorioiis even in defeat. A ; multitudinous swarm of exuberant patriots and sympathizers, under the inspiration of American enthusiasm, awaited his comintf and filled the Hkics with joyous shouts. Ero yet he had entered port he was welcomed in the president's name, welcomed by a colonel of the regular army in behalf of its commander, welcomed by the municipal authorities, by officers of militia regiments, by representatives of all kfcids of societies and by delegations of citizens, on that beauteous December day of 1851. His personal appearance, as I remember it, was even more picturesque and attractive than the images of him that had previously been formed in the popular mind. He was of a typo then unfamiliar in our country, supposed to be that of the Magyar race, although, in truth, be •was of Slavl* descent. He was in the prime of life, graceful In figure and of stately presence; his complexion seemed to be at once swarthy and pallid; he gave the impression of intellect and energy; his manners were those ol the nobility; he had a beard with mustache, things which had not then come into fashion among us; his speech was subdued, while his voice was clear and compassing. ... HI* garb was i people. We could not undertake to as- that the American ^ St1jinn( , ary in a wa r for independ- more buoyant and , cj]ce W e could do nothing in her behalf. We had given her our moral sympathy; we had honored her champion. Verhaps that sympathy has been inspiriting to her at timeb during the past forty years. Hungary has since then won peacefully many of the rights for which Kossuth fought, even though she be not a republic, but one of the two main divisions of the Aus- tro-Ilungary monarchy, possessed of her own constitution and parliament and administration. For thirty-two y«ars Kossuth dwelt at Turin in Italy, a voluntary exile from his native laud, earning his bread by his pen, even after lie passed the ninetieth year of his age. He remained steadfast" to tin- liberal principles which he espoused in early life, refusing to accept, amnesty, or recognize the imperial authority, or abate one jot of his faith. Whether this is the wisest course that lie could have pursued may be a subject of dispute. Yet it is pleasant to see a man of his type amonp the unprincipled horde of time servers, a poor old gentleman of heroic mold who would die rather than bend the. knee to Baal. Ofttimes in late years he told how -weary he was of life. Not many days apo I attended a Hungarian festival held in a hall on the east side of New York in honor of KosBUth. There 1 met a few of his compatriots of other years, now venerable in their age, men who ha<3 fought with him in llungary, had lived with him as exiles in Asia Minor, had accompanied him to this country when he came as the nation's guest, and have stood without yielding until now, as he stood. There also I mnt their Americanized posterity, two or three generations of them who have inherited and retain the features, the traits, themannersand the spiritof their Magyar ancestors, that erstwhile master race which is again winning back its honor. In a side room there, I saw an array of mementoes and rel JCB of KosBUth, many of his letters old and n«w, written in perfect script in sundry languages, (scores of pictures of hUn Uken at diTtrs period* within the pMt three-quarters ol a century and a collection of books about him that ha»» b««n printed in various coun tries during his long career. These ure treasures, the existence of which is known to but few besides their c»l lectors, yet full of interest to those who revere the name of the herov revolutionist whose deeds are the glor of modern Hungary, who, though de feated on the battlefield, lived to see the cause of which he was the leader in the ascendant, and who consistent); pursued a course which was of far mow advantage to his country than tha of th« noble-hearted Rakoczy, or an? other man who has lived for cen turiee. As I mingled with his old comrades, and gazed at the relic" which they have gathered. I though again of Kossuth as the resolute agita tor, the prisoner ot despotism, the prophet of liberty, the warlike leade of his people, the high-souled states man, the governor of Hungary, the vie tim of treason, the refugee protectcc by the sultan and helped to freedom bj oiir own government. I thought again of his arrival in our own country, of his welcome in New York and elsewhere of his appearance here on the platform of his radiant and commanding elo qnojice, of the long and mclancholj years of his exile in Turin during thf period that has intervened bince then and of his waning powers as his lit approached its end. To-day afte forty-three years J hear once more the sound of his voice and am stirred t the soul by his adjurations and appeal in the name of liberty. JOHN SwrxTON. 108MJTH. by many othw speeches be** wlMttn » week. I heard him once and agaia. I recall at this time his fascinating pw •on, his reverberating voice and his magical discourse. Hi« oratory WM a revelation to all his heareru. We had been accustomed to tho American eloquence of the period, some of which was of a very noble character, both, rational and earnest, at once inspiring and Impreatfve. But Kossuth 1 * eloquence was unlike the familiar American; it WM of singular novelty and effulgence. It seemed as though his tongue was tipped with oriental fire, »3 though his heart was aflame, as though his soul had been fresh from the solar surge, as though he were an Asiatic rather than a European. The compass of his thought, the power of his reasoning, the vividness of hi* imagery, the energy of his passion, the depth of his sincerity, the range of his knowledge, tho majesty of his diction, the perspicacity of his language, and the charm of his presentation have certainly been surpassed but by few of the world's orators. We often hear of a thing called "magnetic eloquence," but that phrase must look raw and coarse to those who can recall tho luminous discourse of the man from Hungary. 'His audiences were overmastered, they were borne -aloft and carried along. Sinee J began to conjure up the memories here put on record I feel bound to acknowledge that any attempt of mine —^^«^a^a^^ Mw-rded Highest Honors-World^• Fair. *^M^^^_ M^^Hk ^^^^^B ^^^^^H ^H ^^^^^^ Ilolilinc Court In .Hiimlaslppi. "Iii Mississippi there used to be a. Oiinty whore it was almost impossible o hold court. The lawless backwoods Icmunt would come into the county cat and break it up," said Neil ^amUicr.x. a prominent attorney of hat, state, to a St. Louis reporter. 'Jiidjju Clarke once went there to hold ourt. The first day he had a bucket uf water poured over him from a chirn- icy hole in the roof, and several pistol hots were fired in the courtroom. The next <i",Y' u!t ' le opened court, hn laid wo large pistols on the desk and at first siffU of disturbance leveled the pistol at the man and conducted lim to iail. After that there was no more disturbance, and the better olc- ncut of the community were anxious thai, he should return the ne:;t term. >ut ho declined with a sonii-.icc that .ui, passed into a political proverb iu. Mississippi: 'I regarded my eominpr nlo this county as an adventure I re- •ni-a my leaving it as an escape. —The decr<-:ise in the price of food dnrina- the lust sixty years has not re- suited"]]) an increase in the proportion of marriages. —Wajrcs in all departments of labor a-ve steadily increased since tbe be- -inivng of tills <:ep»,ury. —Savannah is the forest city of the south, from its innumerable shade Ireea. Noted Physicians C. F. BROWN, A. M., M. D. Recommend & Prescribe SWAMP-ROOT It Never Fails to Cure. "Dr Kilmer's Swamp-Root is a propwaao* discovered by an old and scientific physician, •whoso wide experience extending over many years, has (riven him exceptional advantage* lor trcatlng.diseaMW fuccessfully. I have prescribed Dr. Kilmer's Swamp-Boot In a great many of tbe worrt kidney, ll«r and bladder complaint*, and always with th« most Kiatitytae results; therefore it afford* mo (Treat pleasure to most cordially recommend it tosuffcrin* humanity mid the medictf profession, as I feel sure that It will w>- compllrti mil that is claimed for it in cycrj instance. It I* beyond qnertlon »• K rc«tcit diMOYCiT of *"• ** T * . Suspension Bridge, N. T. — UM content* (!i.t w * "IiT.IUi' *c • «> and nEouiS<l«orTwUmooi»l«. CoDfolUUon Or*. S>r. Kilmer A Co., »"«'"?<•»•''• At Pr-OT^I*. »*«• "* •*•*• Dr. Kilmer's PAMLLA LIVEE Pm*•re the best. 42 pi IB, 25 centt. ! Has made many friends, j; ' Why? Because it is the;;, best and cheapest Imi-; L mcntsold. It kills pain 11: SELYflTHJN OIL: [ : is sold by all dealersfor2Jc ;; . [subMltuta aretnojtlychMpimlli- ; • , lions o( good articles. Don't t«k« » > them. In«ist on getttn| On., or you will b« oisa] It's the Part of Wisdom. Times mar be hard and money clone b»f these things towe their compensation. We can- tell rou watcbe* and will, at wry clow ngnwi t« • cet the money. Come and see whrt jou cw 0»with little money. I am mHom M »«" ™* onU watch* but other goo*. »l»m°n*>. Clocjn, Silverware, Spectacles and Novelties. I »m «f«ni for tie Lrtle Sale and Lock Co., Clnclnnatf. Ohio. Call and gee a small sample. D. A. HAUK, JEWELBB AND OPTICJJJ. STORAGE, v lw*« or null' For stormg* to W. D. PRATT. Pollwd * WiUon w*whoin*-

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