North Carolina Newspapers

The Morning,. Post RALEIGH, N. C. PrBUSnED DAILY Bt TIIK TVOKTK CAKOLIIVA PUBLISHING CO ROBERT !U. FBBMAS - Editor - SUBSCRIPTION PRICE: One Year Six Months ; Three Months One Month. .$5.00 .2.50 . 1.25 . .50 Crj-icB m ran Vxrt,j,v BtJitoxs Fa.yettbvu.le Strbbt. Tfce Pout will twbltsU trief letter, ;tcts of general interest. The wnttt. must accompany the letter. Anonymous com municationg will not be floticea. kcjcvvc Manuscript will not be returned -rtirti Eiief letters of local news from any secwun i i the state will be thankfully received Merely rersonal controversies wiu aoi icJerated. Address I1 business letters and ta"" l;ccfor publication to THE MORNING PCfti- The telegraphic news service of THb muj JU POST isabsolutely full and complete ana imuequaledbv anymornind newspaper sorxia ti New Yort. "This service isf uruishedus uaae. f ecialarrangementa with SUE LAFFAN NEWS BUREAU that used bv th 6 tin. and Is ihe same service Sun itself, whicti is icnown hrtliTOrinrlnanv coi-rir- in HV neWSOlPCI ill ihe United States. This service is receive :phtly by wire in the office of THE MORNING tGST directly from the New York Sun. and rcludes special cables and domestic news ana vi. commercial and market reports. WASHINGTON BUITEAUj Ilntclilns Building lOtn & D. Sts. N. W EASTERN OFFICE. ICO Nassau St.i New York. WESTERN OFFICE 617 U. S. Express , Bl'd, Chicago. In charge of tUo Stove W. Floyd Special Agency. , - Subscribers to THE POST are reqneat rI to note tbe date on the label of their fBTerand send In their renewal before lie expiration. TUi will prevent mlcts , ijg oi n sinsle issue. All paper wilt be titcontiuui wueu u uiuo puia lof spires. , NO. ffw-ADE S feP) C WNCIIL 7 THE WEATHER TODAY; S S , S Fair; cooler. s SUNDAY, MAY 12, 1901. OUR ADVERTISERS The Post must be permitted to point with pride to its splendid array of adver Users. This class of its business has erown as substantially as has its circu lationthe latter being by far the largest of any -.daily in the State-and as the circulation attracts the advertising, so the latter reflects alike the character of the paper and the public which it serves No paper in this State ever enjoyed a higher class of advertising patronage Of course we are gratified. Readers of this paper also are appreciative of this feature, as we have abundant reasons for knowing. . . THE DIFFERENCE Yesterday's News and Observer con tained the following: "In the last issue of the Commoner, (which, by he way, is the best yet pub lished of that able paper, better than The Nation in its best days) Mr. Bryan discusses what constitutes a statesman. In the article, with that singular clear ness and power for which Mr. Bryan is noted, he gives the difference between the dishonest and the honest man in their action on public questions. It is worth preserving. We qoute: 'The difference between the , honest man and the dishonest one is not gener ally a difference in principles for nearly all men admit the truth when it is stated in the abstractr but the difference is that the former applies hi3 principles to every day life, while the latter, in the hour of temptation, waives them laside as generalities and then tries to lay upon his - environment the responsibility for his sin. " And a grosser illustration of this was never given than when the attempt was made in 1898 to have the Democratic party "accept" the infamous proposition of Butler's committee to fuse, notwith standing the State was at that time cursed with one thousand, negro office holders the result of Butlerism. The "temptations" to "waive principles aside" was too great for the News-Observer. Honest democracy 'rejected with contempt the effort, and came out glo riously successful. By-the-way, it is said that even Mr. VBryan himself wrote a letter urging this fusion be entered ppon which was never published, he having no doubt been de ceived into so. doing by a misrepresenta tion of the "environments." . Nothing short of a elub such as the Straight Democracy used in 1898, will compel some folks to realize the differ ence between Statesmanship governed by "principles" and that which yields to temptation and fuses with the enemy of all principles. . : The relatives of seamen of the war Vessel Maine, who lo their lives in Ha vana harbor have filed claim's with the Claims' Commission aggregating $5,000, D00 for damages. As this, government Will have, to pay damages awarded we my expect, or rather have the right, to Kpcct, closer .scrutiny than if they were lbe paid by ,Spain, . . THE PANIC IN. WALL STREET " The following head-lines to the state ment given by j ihe New York ' Sun of Friday of the situation which controlled in Wall street the two preceding days are as graphic - and comprehensive as the columns which followed. They were in these words: , v ''Worst Panic while it ' lasted that Wall street ever saw. Stocks other than N. I. thrown overboard at any old price. Sixty points dropn D. and II. at one time, Sharp recoveries, but a list of losses that-meant ruin to many specular tors and threatened ruin to the street. Effective relief measures were put into operation. Not One stock exchange fail ure. A few little ones." ' In an editorial the Sun reviews the sit uation the causes leading up to it, and the outcome which shows the firm foun dation upon which the general business prosperity of ( the country is based. The Sun says: ''The official announcement made at the close of the day's business upon the Stock Exchange yesterday that, as the result of conferences between the two financial interests that have' been strug gling for the control of the Northern Pa cific railroad, the speculators who had sold contracts for the delivery of North erin Pacific stock that they did . not possess would be allowed to Kettle with the purchasers upon reasonable terms, means that the great Norethern Pacific "corner' is ended, and that the decline of. values on the Stock Exchange which had this for its cause is over. The fearful drop in stock market. prices which occurred yesterday will pass into history as the worst of the sort that ever happened within short time and at the same time apparently did so little dam age in the financial cftmmunity. No fail ures were reported, save of a very few small -houses and operators, none being connected with the Stock Exchange. The trouble of yesterday will be com monly spoken of as a panic, but the ex perienced observer of Wall street will shake his head and say no. A panic is accompanied by a general collapse among commissison houses, a strain upon the resources of banks which either leads to actual failures among those institutions or to the well-grounded fear of them, a practically absolute refusal on the part of owners of ready cash to lend money, and general terror among all those who have been borrowing. Such was the panic at the time of the Grant and Ward failures, for instance, or even at the time of the breakdown in industrial securi 1 ies ,two years ago, when many banks were known to be in trou ble. There were no bank fail ures yesterday, nor will there be "any. Money kept very easy, save for a slight flurry. There was no terror among the Wall Street commission houses or anything like it. Thousands of people suffered heavy losses no doubt; but the testimony of all the Wall street houses yesterday was that calls for .margins. v;;i either pimptly. response 1 to or that v. here response was not made, the weakened accounts were closed out with little loss to any of the honses which car ried them. The fact of the matter is that in the speculation for the rise in Wall Street during the last three months the commission houses themselves have taken but little part, leaving it to their customers and advising caution, while strengthening their own resources. The disaster just brought about has been due to the unprecedented ambitions of cer tain very large interests, and to the ever hopeful disposition of the class of' the community commonly known as "lambs." The almost 'uvari lb!.- Iiislciy of pufit great declines in the st-ck maike t as were witnessed yesivr l;iy is that thoy me succeed ed by marked advances. The an nouncement referred to as to the settle ment of short contracts is a pretty plain intimation that the contest for Northern Fa;fic control is eitb.t r oeeidft J or that the rival parties have come to an agree ment. Always after any depression in prices of a sudden and extraordinary character due to no cause affecting gen eral business or "industrial conditions, there is a rush of money into the market for investment which has beeri'awaiting- jmhz such an opportjr.:y. Probably this phenomenon will now occur on a very huge scale, becaasH for several ini'tths back wealthy and conservative people in great numbers have been out of sympa thy with the rise in prices, and their funds have been heaped up in enormous quantities in trust companies and other safe places of deposit awaiting the smash which they knew would come. The gen era! cause of yesterday's break; was the fear of speculators that when the North era I'acine "corner" ended the great smash m the price of that one stock which would Inevitably oecur would af fect the whole market unfavorably. Now that this predicted effect has been discounted, and to a degree which no one would have prophesied 4S. hours ago .the stock market is clearly full of bargains. Our country's, prosperity Is undimmed, and there are plenty of secur ities on the Stock Exchange that are selling below their investment value." That the conclusions of the above are correct, the Post of yesterday reported a general re-action on Friday 'through out the list of securities, most of them returning to the former high level of prices. - ' Only reckless "lambs" and the desper ate contestants in the struggle for control of certain s'tocks suffered by the panic. The prompt action of the ha tv j xz lieve the demand for currencj- was not only patriotic to the extent, it avert ed possible greater disaster, but evidenc ed the substantial condition of the money market aud legitimate interests gener ally. ' , It is a day to be those -immediately remembered bv concerned, but not hv the rnnntrv nt ln.m n . .. ., '"'sc, umer tnan indicating the bed-rock situation business generally. as of THE LEGALITY OP THE REVENUE ACT If the opinion of the Suprem Court as quoted a few days ago, rendered in 1890 we believe, relative tn k, U. , -. . course eeesaary. to U pursued in the trayeJs of a bill . "levying, or authorizing the levying of a tax is' hiw," it affects -not only the revenue .-ft-t, but every so-called local act pased by the last or pre ceding legislatures authorizing the levying of a tax for, any purpose, pro vided such : act was amended by com mittee or by either house during . its passage, and it is very "important thrt these matfers be investigated. A num ber of communities have 4'ecenlly voted to issue, bonds for school' and other purt poses. If one such was amended in any. particular, "material" or other wise, after its pasage its '"first reading" in the house in which it was introduced, it is . defective,- seriously defective .at least to the extent of im pairing its character until the couit cajr pass upon, and in its wisdom, dis criminate between what is a 'material" and immaterial amendment. No one will buy a bond that has' got to run the gauntlet of the courts to decide their validity if they know it. . , So every measure which passed the legislature authorizing the levying of a tax is involved in this decision, a most absurd one. we insist, and contrary to all the. rules or laws enforced in Con gress, any State legislature or parlia mentary body in the world. A case - should be taken at once to the court so this extraordinary dictum may be reversed or set aside; as the shortest and least expensive way of settling the matter. ; , $) , In view of results it is some comfort.to know that so astute a financier as Mr. Russell Sage was iu full accord with The Post in its warnings against the jnad rush in Wall street.'and no less so as to the "wickedness" of the undertaking. Mr. Sage remarked Friday evening: "I think the worst is over. There -will be some little fluctuations, of course, and surprises, but nothing serious, such as we had yesterday.' This frontier tight over the' Northern Pacific is over, as the shorts are to be settled -with. Every one has responded to margin calls very easily and no one has 'laid dpwn.' There will be a better state of things in two or three days. ' "I think it wicked, however, to have had this happen and to ' have had the prospects ' of a ' prosperous year thus dis turbed. The panic has cost the country $50,000,000. Both the rival interests who were: after the Northern Pacific are responsible. The financial strength shown by the street is,- However, gratify ing. I look for a more steady market the first of next week. The country is prosperous and the market will soon come up 'again.'! Mr. Sage was too considerate of pub lic interests to aid in bringing about this financial conflict, a his repeated warnings pitove; but, being on, his pa triotism likewise prompted him to "go in" and help crush it by generously lending cash to those in sore distress at the con siderate rate of40 per cent interest for one day. The services of such a " man in such an emergency-can but command the ad miration of even a selfish wpjMdL. - - : : No. 1 of the Second Volume of The North Carolina Law Journal,' the " val uable monthly, published and edited by Mr. Paul Jones, or Tarboro, is out and indicates continuous improvement promised by its editor in its initial number; The Bar of the State should give this "enterprise united asi well : as substantial support. It can and will be made, as it is already in a good degree, most useful. Its success so far has been . most encouraging, upon which the Post desires to felicitate its editor. ' . Tbe Best Remedy for Rheumatism QUICK RELIEF FROM PAIN. All who use Chamberlain's Pain Balm for rheumatism are delighted with the quick relief from pain which it affords. When speaking of this Mr. D. N. Sinks of Troy, .Ohio, says: "Some time ago I had a severe attack of . rheumatism in my arm and 'shoulder. I tried numer ous remedies, but got no relief until I was recommended by Messrs. Geo. F, Parsons & Co., druggists of this place. to try Chamberlain's Pain Balm. They recommended it so highly that I bought a bottle. I was soon relieved of all pain. I have since recommended this liniment to many of my friends, who agree with me that it is the best remedy for muscular rheumatism in the mar ket." For sale by Henry T. Hicks, Bob-bitt-Wynne Drug Co., and North Side Drug .Store. Mr. Cockrell and the Cnbana (From the St. Louis Globe-Drnnocr.it.) Missouri's senior Senator evideiulv be lieves that it is the manifest destinv of luba -to oeome part of the Ln:h-1 States.-. Prob.i :iy Iu; has not onteitamed this view long.. It- was ; the view held, however, bv cost of the -:aders of old Democracy from Jefferson onvta'cl to Buchanan, Soule and Jefferson Davis. In its great days' the Democracy was an annexation party. It was not "only in favor of taldng in the islands in the Gulf of Mexico and the Caribbean sea, but it wanted Central America and a good share of South America. At the time of the Mexican war many Demo crats "favored the retv;Uion of all that part. of Mexico which was occupied by the armies of .Taylor and Scott. $ ; When Greek JTleets Gretk The house of Vanderbilt may be" set against the house of. Hill in what may prove a greater competitive struggle than has yet been known, unless these giants of. finance agree to divide the traffic ill harmony. It hardly looks like it when Mr. Vanderbilt it trying to buy the Un ion Pacific that he can be independent of Mr. Hill. Louisville Courier-Journal. American Goods Best English papers now admit that it re quires something more than brawn to compete with American manufactures. They are beginning to see that skilled la bor, backed by brains a-nd fair treatment of labor itself, are the-prime factors of success. St. Louis Star. : $ . Her Advantage ' (From Tit-Bits.) . the professor speaks five languages.' Ies: but his wif onn t. . one than he can dn five."- ' ,VU THE EVENTIDE I ' (Thos.H. Hfjr in Wilmington Messenger.) The end of (ny journey is nearing. But the jiwilight that darkens my way I ' ! Has broughj neither doubting nor fearing . The hope Lf my heart to dismay: I have wrestled with guilt and with sor ' row j . . Bitter sori-ow the shadow of:sin-' But I drea not the night nor the mor row, , ' Nor wish that I never had been. .Vain vision my folly once cherished False idojlk my $soul had enshrined, Thank Godj They are utterly perished My spirit $io longer is blind! When nothing but ruin was left me. In- the mkduess that followed their flight, I was grasjjed y the hand that bereft me I ' The handjjthat has led me' to light, The life tha: is only worth living The giver; of life has bestowed; His cross I Nor pray The crown No morta foov? bear with thanksgiving, that He lighten the load. f His thorn-coronation i is worthy to wear; Yet, sharing His humiliation Even I, in! His triumph may. snare: mat ills mercy niuuiriu, Else it neiver had waited for me: His word my salvation ensureth, And tiling for He waiteth for thee: ' At eventide sweet is the story - Of Christl-the Redeemer of men; When He s lall return in His glory, May we sing it together again! ' -jj A Testimonial from Old England "I ronsidejl' Chamberlain's Cough Rem edy the best in the world for bronchi tis," says Mr. William Savory of War rington, England. "It has saved my wife's life, she having been a martyr to bronchitis for over six years, being most of thtp time confined to her bed. She is nowjs quite well." It is a great pleasure to he manufacturers of Cham berlain's Cckigh Remedy to be able to publish tesfinoniais of this character. They show iat great good is being done, pain and suffering relieved and valuable lives restovd to health and happiness by this remjijdjv It is for sale by Henry TV Hicks, Biobitt-Wynne Drug Co., and North Side I.)rii3 Store. Founded 1842. ' Til Clin Wfd BES haS been " abused that J T,EFF p7lNOMtWi11 ad6lllately deSrib3 It is as near: Derfectin-n as iuai1 ci,n i. v. It combines the high qualities of the other in.tru ments and has many unique additions of its own. CHAS. M. STIEFF, Piano Hanufacturer. i. Baltimore, Md. North end South Carolina Branch Wareroom losiNortnTryon St.. Charlotte, K. C, CONSTANTLY INCREASING! OWING TO OUR CONSTANTLY INCREASING IlVri v NESS, AND OUR DESIRE TO AND ENDF IVOR TO A Kit EAST W1ITH TUP timt? wurrt ;f:V V.Iw. x) ESSARY TO CONTINUALLY ADD DIFFERENT fy W LN f HICLES OF ALL DESCRIPTIONS, AND ALSO TO Tl' ' THAT WE HAVE HAD NUMEROUS REQUESTS Ft )I ,1,1 OF HORSES AND CARE OF VEHICLES, S BEFN rv ! ? TO DO SO ON ACCOUNT OF THE CROWDED COXDITIon'S OUR SALISBURY STREET STABLE, WE HAVE BFJ V crt? PELLED TO. IiNoREASE OUR CAPACITY. THERF FOR P ?v'i HAVE RENTED THE .STABLE ON MORGAN STREET KFvplf LY BY MR. JAS. ROBBINS A X n rn vsawntTwvVi v . ,AVL?NT- PAT?ED Til TATCTC 1-iO A TiTiMl? xrr. rrn ,.Autj E VEHICLES THE WILL ALWAYS FIN isiuax Billion vauiULES, DRIVING AND RIDING AT EITHER OF OUR ESTABLISHMENTS. KLEP BEST CRE A'n TTm r" Il DA FULL LINE OF THR lt' . IIOHSKS, She Is Climbing: in the Itlzbt Direction HUuniam lierala.) If Raleiglji should become as enthusias tic over an ilauditorium as she is on the matter of lkaseball she would doubtless accomplish something. f For Drtmfeenness and Drag Using; Vlease rtte a vmraipoDdaaaa THE ( Mine ffi V Handbook Sant Free On RsauesL UPCHURCH & HOLDER; S St Hary's School, Raleigh. N. G. ESTABLISHED IN 1842 Lent terra be. 'Adfent term begins last week la Septemb:: rins last week in Januarr. Full courses in Literature, Languages. Sclgnce, Art, Music an Business. Excellent Kindergarten under Mk: Iouise '". Busbee'i Complete modern sanitary coarrlenclei. Jfor Cataloffiio and particulars, address. REV. T. D. BRATTON, B. D. 'xgx$S 3x3x3 sXjXSxi; THOSE If ' - v '--- I---: --- - J They kre comifor table. SPRIG SI iS They kre sensible ip.C)iinsp? -imam mm . They are serviceable. 3i They are stylish and snappy. If you have not been able to find them elsewhere, call or write , ' - j! . . to headquarters for the Hanan & Son Shoe.' DANIEL "ALL CO 0 5 u3pston No. " i X 1 'A sightly an; :urdy Oxfcrd-r-mong Lair'd, Schober l Co.'s happiest hits in mcdeJing.' Shoe Store, Raleigh, 1ST. 0. Y0)U M 7T IT If IAVE ONE AND WHEN YOXT GET ONE, GET THE BEST XEconomica!, Hygienic, Convenient.r THE BALDWIN Refrigerators and Ipe Boxes. $5.75 to $20.00. t ip ' i ".Mil ;' Baldwin Circulation. The Cold. Air falls to the lowest point in Refrigerator through aR A;r I)'jrt and entering the Provision Compartment, displaces the lighter air, fo:Ti" t a ward through thp Provision Compartment to its highest point, caching t:nousa an Air Duct into Tnn of Tpa Tlnnm. ' . " ' The constant FALLING of the coldest and heaviest air tiiroa this bH clrcuintion i any chamber; s-1 id n rate flue, and tbe RISING of the lighter air, creates a positive gases or vapors arising from its contents instantly into the icq moisture and impurities are condensed on the ice, passing off throu?-' Tha rnAoc anil lioor-ioct o!p hnrln ffin hppn relieved Of ol iVi)''"-" purities, enters the provision room perfectly pure, cold and dry; ' 'te D essary conditions for the preservation of any perishable article. , The Roy all & Borden Fur. " Co Cor. WilminitQff and Hargett Streets.