Evening gazette, Wednesday, March 10, 1897 · page 8

 

Ci

 

 

I investigating committee.

;>_

LEXOW TRUST ' REPORT
The Investigating Committee on Gom-
binationsof Capital.

 

LOCAL LAWS INEFFECTIVB.

Further Legislation Recommended to
Correct What Is Declared to Be a
Hardship Difficult to Remove
Under Present Methods.

ALBANY, March 10,—The Lexow com-
mittee met today, and the members afl‘ixed
their signatures to the report of the trust
The report is
an unusually lengthy one, embracing 38
typewritten pages.

lThe testimony taken before the com-
mittee, the decisions of other courts and
if the United States supreme court are
commented upon at length, and much at-
tention is devoted to the operation of fac-
tors’ agreements. In brief the report says:

Trust agreements no longer form the
basis of or are they a constituent part of
the aggregations of capital which are com—
monly looked upon new as trusts. In dis-
cussing this question of trusts the com~
mittee finds that it is unnecessary that ab-
solute monopoly exist in order that the
operations of a trust may be secured. In
discussing trusts the committee divides

combinations of capital into three classes. ~

First are corporations which operate under
public franchises; second, legal corpora
tions which are protected by patents and
trademarks, and third, those that depend

'wholly upon the use of capital, and where

monopolies exist, not naturally or by legal
permission, but by reason of the control of
competing companies and the product, in
order that the greatest net- results may be
shown.

The committee does not quite agree that
the trusts and monopolies complained of
are a natural result of the progressive evo—
lution of the times, and while it does not
recognize all combinations of capital as
trusts in the proper sense, it does recognize
that unless the evils complained of, against
combinations of wealth attempting to con-
trol the supply and price of products,
it will be but a short time before a con-
tinuance of the operation of such combina-
tions will tend to stifle competition and
place the regulation Of supply and price of
product as well as the business of the coun-
try in the hands of a few.

As to Overcapitalization.

Touching the question of overcapitaliza-
tion of these modern combinations the
committee finds that this is one of the
"serious evils which lead to the complaint
against trusts for not being content to earn
a fair return on the actual capital invest-
ed, aud that they seek to wring increased
profits out of the consumers by least)“ ”of
an overcapitalization. ”

The committee condemns the practice of
domestic capital operating in this state
under the incorporation of another state,
and especially New Jersey. The commit
tee says it has succeeded in securing copies
of the factors' agreements in use by all of
the dilierent corporations investigated and
finds that their use ”clinches the system of
monopoly which has overspread the coun-
try and renders such combinations of
wealth permanent by making competition
impossible. " It is obvious, the report
says, that as the federal courts have placed
so narrow a construction upon the limit
of their authority no relief touching the
operation of factors’ agreements can be
expected from that quarter except through
the aid of a constitutional amendment.

The report says: “It seems to us that
the operation of trusts, and especially fac—
tors’ agreements, can be satisfactorily
reached only by the exercise of a power of
general jurisdiction throughout the United
States, and that any attempt to prevent
the evil by local leigslation will prove
abortive or at least insufficient. A review
of the courts’ decisions regarding factors'
agreements leads the committee to the
opinion that the constitutional freedom of
contract may not be interfered with, and
that they can be attacked only when it is
shown that they attack the rights, consti~
tutional liberties and the privileges of the
people. "

“’ants Laws Amended.

The committee recommends that the
laws be amended so as to place a limita-
tion upon the stock of corporations, espe-
cially as regards foreign corporations oper—
ating in this state, and that foreign corpo.
rations be brought under the jurisdiction
of the laws of this state which are pro!
vided for the protection of creditors and
shareholders of domestic corporations. The
committee is prepm‘inga bill carrying out
these suggestions, and will make provi-
sion for the right of a citizen to begin a
civil action and secure an injunction
against any trust operating in this state-in
violation of these recommendations with
the final view of having the license of a
foreign corporation to do business in this
state revoked if it is found that such for-
eign corporation is not complying with all
provisions of New York state laws.

Senator hicCarrcn said that he would
dissent from that part which condemns
the American Sugar Refineries company.

He believes that the committee devoted
too much time to this company when it
should have examined many other alleged
combinations. There was no evidence
taken to show that the sugar company had
driven wages down and prices up more
than any other combination of capital,
brains and industry.

The bill to be introduced will be the
Robbins-Cantor bill, amended to provide
that the attorney general shall go before

he supreme court when a complaint is
made and ask for leave to bring an action
and subpoena witnesses for an investiga.
tion. He may not Of his own volition
conduct a star chamber investigation or
subpoena witnesses Without the sanction
of the court.

Press Censorship Bill.

ALBANY, March iO.—Senator Lamy re-
ceived today the press censorship bill drawn
at Buffalo yesterday and placed his stamp
of, disapproval on it by immediately re-
turning it to the person who sent it to

'him, whose name, however, he declines to

divulge. The bill provided for a general
press censorship.

 

To Examine Voting Machines.

rALBAXY, March lO.——Mr. ~Armstrong
has introduced in the assembly a bill for
the appointment of a commission by the
'governor to examine all voting machines
submitted to it during five years and
forbidding the use of any machine not cer-
tified to by the commission. “

Mad Dog Scare In Westport, Conn.

WESTPORT, Conn, March lO.—A tramp
dog went mad in the streets of the village
today, and Frank H. Taylor, a plumber,
was bitten in the leg. Several dogs Were
also bitten, and a mad dog scare prevailed.
The animal was finally shot: m?”

7-—...

%

THE EVENING, Gaza i’Til.

MRS. RUIZ IN NEW YORK.

Charge That Her Husband \Vas Murdered
Reiterated by the Widow.

NEW YORK, March 10.—Mrs. Rita L.
Ruiz, the widow of Dr. Ricardo Ruiz, who
recently died in the Spanish military
prison at Guanabaeoa, according to some
reports, from violence, arrived from Cuba
with her five children on the Ward line
steamer SeneCa today. The steamer was
clocked at the foot of Wall street shortly
after 9 o’clock, and at that time there was
a large crowd of men and women on the
pier. Mrs. Ruiz and her children, three
girls and two boys, were among the first
to come down the gengplank faim the
steamer. Several friends accompanied
them. Mrs. Ruiz said that she did not
know that she had anything to add in re-
lation to the death Of her husband or his
treatment as an American citizen by the
Spanish government.

“He was foully murdered,” she said,
“and I will take such action as I may be
advised to by my friends. I Want to thank
the American people for their expression
of sympathy, and I cannot say too much
of heartfelt thanks at the kindness of
Consul General Lee. For the present I
will be in the city with friends. ”

After leaving the steamer the children
were driven to the United States hotel.
Mrs. Ruiz’s appearance and manner in-
dicated that she was in a highly nervous
state. It was likely, her firends said, that
her case would be placed before the new
administration at Washington as soon as
possible. The Seneca left Cuba on Thurs-
day last and Mrs. Ruiz and her family
were taken fr nu the landing stage in a.
lighter out in the steamer on Thursday
morning. (in. Sunday last it stormed all
day, and when the storm was at its height
a wavr. struck the porthole of Mrs. Ruiz’s
statcromw. which was No. 10, and smashed
the glass. Mrs. Ruiz ran up to the deck
in a hysterical condition and cried that
she was afraid of being killed. A physi-
cian Slit-uplulnd in quietlng her, and during
the rust of the passage no unusual incident
ucituri'ed.

Dr. (J. .‘1. ’l‘owlc. a passenger, said that
at the military prison at Matanzas he was
informed that several prisoners of War
were taken out every morning and shot.
The cells were in a filthy condition and the
prisoners were treated brutally. Dr. Towle
drove about Cuba, but found things com-
paratively quiet there.

 

 

An Appeal For Funds.

HARRISBURG, March 10.—-The trustees
of the University of Pennsylvania have
petitioned the legislature for an appropria-
tion of $1,000,000 in aid of the university,
conditional upon the raising Of an equal.
amount by the friends of the institution.
it is stated that, owing to the great in-
crease in the number of students—those
from Pennsylvania alone numbering more
than 2,000—the university needs the help
of the legislature.

TEX-Senator Dolph Critically Ill.

PORTLAND. Or., March 10.—'—Ex-U-nited
States Senator Joseph N. Dolph had his
left leg amputated just above the knee and
lies in a very critical condition. It is
feared he will not survive. A few days
ago a sore appeared on Mr. Dolph’s leg,
and it soon became troublesome, and the
physicians decided it was a case of uric
acid poison. and that the only hope for his
srecovery was through amputation.

A Special “freaked In Arizona.

Putnam, A. T., March 10.—A special
rain bearing a French opera troop of 150
people. bound for San Francisco, was
wrecked near Casa Grande. The accident
was caused by a bolt breaking in front of
the tender, allowing the fixtures of the
truck to drop down and spread the rails.
Under the second baggage car a boy about
15 years old was found dead.

 

Roster: and Montenn Ellie Suit.

BUTTE, 11011., March lee—Tho Boston
and Montana Mining company has com-
menced suit in the United States court
against the Montana Ore Purchasing com-
dany and F. August Heinz for $500,000
damages. alleged to have been sustained
by reason of valuable ore taken from the
l3'ennsvlvania mine.

 

One Dny'v: Government Receipts.
WAsnixerox. March in. »——.-\'a.tional bank
notes received today i'orrvilz'-n'lption, 53175,-
fi-iS; government receipts from internal
revenue. 334843158: customs, $531,447; mis—
cellaneous. 5205.037.

The “feather.

Showers. followed by
warmer; southerly winds.

clearing and

 

FINANCIAL AND COMMERCIAL.

Closing Quotations of the New York Stock
Exchange.

NEW YORK. March SL—Money on call nomi-
nally at 1%@1§3 per cent. Prime mercantile
paper. 3@4 per cent. Sterling exchange steady,
with actual business in bankers' bills at 54.87%
@4.87lv§ for demand and $4.85}§@4.8594 for 60

Hocking Valley.. 4% Silver Bullion..... 63%

Lackawanna......15«i}«§ St. Paul .......... . 77%
Lake Shore ....... 169% Sugar Refinery. . .ll5%
Lead .............. 24 Texas Pacific ..... 9%
Louisville & Nash 48% Union Pacific ..... 6%
Missouri Pacific.. 21 Wabash pref.. . . .. 16

North western . . . .107 Western Union... 82%

General Markets.

New YORK. March 9.—FLOUR—State and
western quiet, and lower to sell; city mills pat—
ents. [email protected]; winter patents, [email protected]; city
mills clears. [email protected]; winter straights, $4.30
(cl-1.33.

\l'l—IEAT-—.\’o. 2 red ruled weak and lower,
followingr bearish cables and lesswarlike talk
from abroad : May. 80 5-16@80}éc.: June. 800.

CORN—No. 2 dull and easier under weak
cables: July. 317-166131léc.

OATS—No. 2 dull and barely steadyzntrack,
while, state. '23@32(;.; track, white, western, 23
@BL’C. .

PORK—Firm: mess. 38.50@9: family, 89.5%;
10.25.

LARD—Quict;
nominal.

BUTTER—Quiet; state dairy, l2@180.; state
creamery. 13@ch.

CHEESE—Steady; 9@l2%c.;
small. 9@12%c.

EGGS—Steady; state and Pennsylvania, 11%
@12c.; western. ll%@120.

SUGAR—Raw firm; fair refining. 213-ch.:
centrifugal. 96 test, 3 23-160.; refined quiet;
crushed, 4%c.: powdered. 4%c.

TURPENTINE—Duli at 29%@800.

MOLASSES-Quiet; New Orleans, 2:Z@BOc.

RICE-Steady: domestic, 3%65écq Japan,
4%@%0- '

TALLOW—Steady: ammo; country. like.

HAY—Steady; shipping. SOLE-650"” - flood 'W
choice.67}é@72%ca m »

 

\-v .v

prime western steam,$4.30.

state, large,

 

. _«:Tméim_’u .

days. Posted rates, [email protected]}/3 and $4.88@
4.88%. Commercial bills, 34.84%. Silver cer-
tificates, 63%@64}q’c.; no sales. Bar silver,
685250. Mexican dollars, 49%0. Government
bonds firm. State bonds dull. Railroad bonds
firm.
Closing prices: ,

Atchison .......... 117/1, N. J. Central ...... 93%
Bur. &Quincy.... 76% North American. 4%
C.. C., C. &St. L.. 28%; Northern Pacific. 14%
Chesapeake&0.. 13% Do. pref .......... 37%
Chicago Gas ...... 77 N. Y. Central ..... 96%
Cordage ........... —— Omaha ........... . 50%
Cotton Oil ........ 12 Ontario 85 \Vest.. 14% .
Del. 6: Hudson. ”1083/; Pacific Mail ...... 36%
Erie ........ ' ....... 14% Reading ..... . ..... 25113
GeneralEIec’tric.. 34% Rock Island...... 67 4

 

1 RED
ROUGH
HANDS

Itching. scaly, bleeding palms, shapeless nails?
and painful finger ends, pimples, blackheads,
oily, mothy skin, dry, thin, and falling hair, itch- .
ing, scaly scalps, all yield quickly to warm baths "
with Cartoons SOAP, and gentle anointings
with CUTICURA (ointment), the great skin cure.

IIIIC’

, .
Is said three bout the world. Pornn Dana Lin) Cami.
Conn. Sole regs" Boston. . .

a- “Bow to reduce Soft, White Hands," free.

ITGHING 1HUMIIRS ‘bii‘lé‘iai‘éiiiffi..s‘iy

Window Glass.

Odd Sizes Cut to
Order. Putty in
Bulk, and I, 3 a
5 Pound Cans;

 

 

Prepared Paint,

Oils and Turpen-
tine, Hardwared:
Housefu r r: i s h-
ings.

11.11. WiLLiAiis

‘7 Main St.

Schultze’s italic.

5 RAILROAD PLACE AIIIi X X X X
WASHINGTON ST. BRIDGE X X X

 

 

A few of Our Bargains for
This Week:

Sirloin Steak...... ......... 140
Round Steal. 100
Rib Roast........ ........ 8, 10 and 120
Rump Corned TBN Sc
Plate Rib, Fresh 0r Corned ............ 5c
Buck Shad (this walk) ..... . .......... .. 100
FreshHerring............................... etc
Cod Steel. ..... 100

HIS IS NOT ALL, 21 visit to
either Of our Markets will
convince you that we know what
people want and our prices are
always RIGHT.

FRESH FISH III-'fALL KINRS.

-—_—-—n

Paul Stalin-lime, J :-

Fairiield Gouniy Rational Ianlx

 

44 Wall St. Norwalk, Conn.

INCORPOB L ED. 1821.
EDWIN O. Iii-June President.
DAVID 13.. human, Vice-President.
L. C. GREEN, Cashier.

Cd pital, 290,000.

EDWIN O. KRELER. Messrs H. GLUVL‘R,
DAVID H. MILLER, A. J. Mnnunn.

F. ST. JOHN Locuwoon. THEODOR -. E.:SMITH.
In». COLE. (has. F.2’l‘msriiaai.

Accounts of Maimi'ncturci's, Merchants and
Individuals solicited.

Safe: Deposit Horse 1‘ n.)

cairn. than]. BANK.

26 WA Li. Six. NOR WALK.

to _ lieposiiors.

 

GURI’ORATED SEl—‘T. i. ‘876.
CAPITAL. - - - . . .
GEORGE M.HOLMES. President.

E. L. Berra, Vice-President.
\V‘I‘Umf A. Cums, Cashier

$100.00C

 

DIRECTORS :
GEORGE M. HOLMES,
P. L. CUNNINGHAM,
E.L. Bevan,

H. E. DANN,
J. T. PROWITT

' S. H. HOLMES,
J . Cousms. J R.

lliscnunl nay. Saiurdav.

Rea Estate.

0 RENT. -— Apartments,
Houses, Farms, Stores,
Barns, etc.
’ xxxxxxxx
QR SALE: — Dwellings,
Farms, Many Places.
' xxxxxxxx
NOW is the Time to Buy, as
' When Times Get Better,
(which they will very

soon) Prices Will
Go Up.

JOHN films,

5 MAIN STREET, - - - NORWALK.

 

 

Piano Lessons.

38. GEORGE W. BIMDLEY. 'd .
W of the late Wm. B. Nash.) nivés $5233

- and satisfactory instructions on the Plane 8.
, her home No.193 Main street.

 

 

 

 

 

 

4 DAYS’ SALE
I I - H
_ . 0

ON

Ni. Mill
lNII IIIlIlSS Ill lllli
_We have made another important purchase of Lace Curtains

as we did last “Spring, and same will be on sale at our Counters
during the. next four days, at" astonishingly low prices. Here is
an Opportunity that every thrifty housekeeper Will appreciate.

 

Llci CURTAINS.

10 pairs $1.25 Lace Curtains. for this sale 75c.
8 pairs $1.39 Curtains, for this sale 98c.

12 pairs $1 98 Fish Net L‘ace Curtains, $1.50

designs, $2.25.

sold for $3.50, for this sale $250.

15 pairs $1 75 Nottingham Curtains, for this sale $51.25-
15 pairs $2.75 Gossamer Lace Net Curt in with rich
18 pairs Ecru and White Lace Curtains, we always

6 Irish Point Lace Curtains $4.75, for this sale $3.00.

SEPARATE SKIRTS.

' $2.25 Figure Mohairs.
$2.50'All Wool Serge.
$1.98 Mixed Fancies.
$6.98 Large Figured Silk. Very handsome,

__,_.,_... — "

 

, On all Flannel and Flannelette Wrappers we shall
take Off 25 per cent of the marked price for

the
four days, next

 

muss GOODS.

proper weight for nice bicycle suitings, 500.
10 pieces Silk and Wool, 40 in. wide, 250.
3 pieces 40 in. Black Sicilian Mohair, 500 yard.

thing for tailor made suits, 750.
3 pieces Silk Grenadine, large figures, 750.

4 pieces all wool medium weight Covert, that is the

3 pieces Etrame Navy, black and green, 52 in wide,- 750
10 pieces 54 in. wide Ladies’ Broadelothjust the right

 

 

 

‘ LAGBS.

3000 yards White and Butter color Laces at 25 per "
cent. less than regular value. ’ ‘

Lot ].—4 to 6 in. Oriental Laceregulat‘ value 19c,i15c,

Lot 2—5 to 9 in. Oriental Lace, regular value tram
330 to 380, 250.

Lot, 3—10 pieces 4 in. Linen ‘i‘orchon, new patterns
regular price 250, special 12%c. ,

 

 

BOSTON STORE,

CORNER MAIN AND WALL STREETS, NORWALK, or.

 

 

INSURE YOUR

PLATE: ‘GLASS

. l .., , ' ' f ‘
MIIIIIIII Pate G as» Insurance Company ’
. OF CONNECTICUT,
Ala-HALF THE RATE charged by other stock companies gs
W. . H Evans-salon. I A

Tammi i. -. GAZETTE-a Bur-Hm.

IN THE

r... . ..

 

NORWM-K

"xv, ; .". .-