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The Horry fleraldj CONWAY, S. C. THURSDAY, MARCH 1, 1006 iHFmTBiiF The Hepburn Measure Adopted by the Senate Committee. TILLMAN SELECTED To Report the Bill to the 8enate, and Thus a Democrat is Given Control of a Measure Passed by Republicans in the House. In tho United States Senate on Frl day by a vote of 8 to 5 the senate committee ,on interstate commerce agreed to repo.t tho Hepburn railroad rate bid without amendment, but the resolution adopted reserves to the members of tho committee freedom of action concerning amendments cllered In the senate, By a vote of 5 to 3, Republicans prevailing, Senator Tillman, a Democrat, was given the hon or of reporting the bill* This establishes a precedent, in that a Republl can senate committee has given to a Democrat control (f an Important measure passed hv a RemihHn?.n hnnu? and endorsed by & Republican presi dent. Senators Cull >m and Carmack were absent and their votes were recorded only on the main proposition. Tlie resolution follows. "Resolved, That the interstate commerce committee report favorably hc uso bill 12987 as it passed the house of representatives, it being understood that members of the committee have a right to vote as they choose on amendments or to offer amendments in the senate on consideration of the bill." Senator Dolliver effared the lirst part of the resolution and Senator A1 drich made a motion to amend by adding the restrictions concerning amendment. The Aldrich motion pievailed, the JUllrmative voles being Elkins, Aldrich, Kean, Forakcr, Crane, Tillman, Foster and Newlands. Toe negative votes were Dolliver, Clapp and MoLaurin. After t.iio meetlug, however, Senator MoL.turiu sud that he had intended to vote for the c range *im u, u!i;mik( was macio in the committee ireoord, leaving only Dolliver and C*app for the resolution as offered by Senator Dolliver. The vote for the resolution as amended was as follows: Atllrmattve-Culloro, Dolliver, Clapp, Tillman, McLaurln, Uarmack, Foster and Newlands. Negative?Elklns, Aldrich, Kean, Foraker and Oraue Senator Aldrich then moved that the bill be reported by Chairman Elkins, but Senators Dolliver and Tillman protested that some friend of the measure should make the report, and Senator Aldricii amended hi* motion, providing that the report should he made by Senator Tillman. lie staled that the Democratic members furnished the maj >rity of the votes for the bill and that it was proper to have the minority "father it." To is was taken by .Qenstnvii T \ \lli t?A* *>*%?] /"M* ?? ? ? Kiouuvuin 1/jiii VLI ttUU p p UH All effort 10 humiliate them, but they remained silent. Chairman Klkins suggested that the report Bhould be made by Senator Dolliver, who has been one of the men who helped draft the Hepburn bill, and a leader In the fight to prevent the adoption of amendments. Only Senator Clapp supported this suggettlon, which had been made informally. A vote was then had on the question who should report the bill resulting as follows: For Senator Tillman?Aldrloh, Kean, Foraker, Crane ai d McLaurin. For Senator Dollver?E kins, Clapp and Newlands. Not vot'Dg- -Dollver, Tillman and Foster. Hefore the session today the result was In d( ubt. The division of the R ; publican senators on the question or judicial review of orders or the Inter state commerce commission lefo the Democratic members In absolu'.e control. It was apparent that if they divided the court review amendment tin\n ffviuiu uu|iiuu^/uo,'i? x no LUIuurii>y mcin* bers, after vainly trying to get to pother last night, held a secoi d conference early this m orning. The expression at the conference wa> to re port the bill without recommendation of any character, but the r.greerni ut was not binding. With that under standing the Democrats went into the meeting. The minority did not m k its decision known ai d the Hepbun bill was l&kfn up an the "coi serva tive Republican fiction" sought to amend the lirst oecUon. At thai, June lure Senator D.xlver, leaning ill.: forces that were oppo.ed to amendments, read a telegram from Senator Gullom asking that he ire recorded against all amendments thaw were not recommended by the committee unan imously and to cast hh vote for the Hepburn bill as It came from the house. t Senator DolIvAr then moved to re ' '' v nl '""ornhlv an I yy i f on that he would demand that Senator CuUom's vote he recorded. This precipitated a lining up on the only important contention and the Democrats desired time for further oonsutatlon. A recess was then taken un >11 X p. m. The four minority members present withdrew to bcnator Tlllmau's oommittec room and then decided to stand as a u 1 .e for the Hepburn bill, with the resetvatlon provided in the resolution that was Anally adopted. When the com nlttee reassembled Senator Deliver o died for a vote ou bU mo'hn. which was taken with the result given'above. Senator Tillman, who was designated to report the Hepburn bill, said after the oomm.ttee adjourned: "It was an unpx peeled, and, In one srnse, an undeslred honor and responsibility that was thrust upon im. As far as I am able I will endeavor to secure the passage of the bill through the ten&te with such amendments as will m+ke it more acceptable to the business Interests of tho country and remedy the evils whloh have produced such widespread agitation. The policy Is essantlally Democratic. The proposed bill has tho unanimous support of the Demoorats of the house and I hope that with a few slight amendments it will get tL-e same support In the senate." Seuator Tillman said that one of the m?st essential amendments he should endeavor to procure looks to "the absolute divorce of public cxr rlers, as such, from the production of 1 coal, as miners, which oondltion of monopoly has created such a strong . feeling of dissatisfaction and anger in tiie bituminous and anthracite coal regions." Ho has already draftod an amondment covering this point. He said that something also ought to be done to compel the trunk linos to make connection with spurs and feeding lines and irive them fair treatment I ? the distribution of oars and cllsr equal facilities with other shippers. Senator Tillman st&bed that In making the report on the bill lie would not prepare a formal analysis for presentation to the senate, but that the report would simply transmit the action to the senate together with the synopsis of the testimony taken before the committee. lie said he would press the bill with tho view of having the discussion comraenoed as axm as convenient and possible. Statesmen v?. (JoneralH. Sir lau Hamilton, one of the most prominent and competent of tha general otlloers of the British army, ha* a passage in his recently published book on the Itusso-Japanese war that Is of particular Interest to ls in Amerlea. Referring to the o mtly interfeuce of the statesman v i ,h gen eral commanders in the hold he says: "A statesman has nothing In his gift but disaster as scon as he leaves his own business of creating or obviating wars and endeavors to cunduot them. The American war, for instance, was a war where the feebly Llmorous civilian strategy of the Federals was & perpetual and never-faillug standby to Its weaker adversary, wnlle the greatest victory the North ever scored was when Jefferson Davis took a leaf out of Lincoln's book and had the ineptitude to replace that ccmpetant, sagacious, careful commander, Joseph E. Johnston, by a mere thrusting divisional general, intin'itely his inferior in all the higher attributes of generalship " The State s*ys Gen. Hamilton is doubtless of the opinion witti many of the ablest military critics, that Johnston had he been retained in command of the army at Atlanta, would eventually have roiled Snerman bick, routed, if not annihilated. Tuere is no doubt about this. Gen. Johnston was slowly but surely getling Sherman farther and fartuer away from his base of supplies, and when he got the Federal army where he wanted it Gen. Johnston intended to destroy Gen. Sherman's line of communlcitlon and thus force him to retreat back into Tennessee or toward the sea coast. It can easily be imagined what a oredicament t.hl? wimhiH nave put Gen Sherman in. Instead of conducting an unmolested march to the sea as ho was allowed to do he would have conducted a disastrous re reat with the Confederates oiosejou nis hoe Irs. Gen. Hamilton Is not fis only British (111 :er that has commented on the interference of statesmen in the management of our eivil war. Gol. Henderson in ids admirable "Life of Stonewall Jackson" glv^s President Davis errd t for saving Gen. Burnside's army fr>m annihilation after u?e battle of Fredericksburg. He says it was the intention of Lee and Jackson to draw Burnslde away from ois for tilled position on the opposite side (if die rm r at Fredericksburg* to bhe tiouth Anna soma twenta miles nd there defeat him and destroy his a my before it cauld reach its for^lII d p sition on the North bank of tnc Htppahanwck river. Pie idem D ivis ov rruled Lae and Jackson and ti e battle was fought near Fredericks u.. a 1 + 4% uurK ujbiA'mi 01 iwenty miKS away win re It should have b en fought That Iiurnslde's army would liavr been desi ro>ed there Is now no doubt. Col liBiid r.->on also says that Gens. L ? a< d Jacksou so played on the fears of Presidedi Lincoln that they made him puoihe Fed ral armies In positions where tAey oould be defeated in detatl, instead of allowing him to ooncentrate them. Fito Burned to Deaih. At Johnstown, Pa., five persons burned to ceath two others seriously Injured and foul houses completely destroyed by a fire which originated in the home of Patrick Grogan, at Tunnel Hill, about 27 miles east of this pity . The monetary loss was about REVIVAL OP THE HOR&EL For Years the Trolley and Automobile Lessoned tho Demand. Flftoou years ago the bottom very suddenly dropped out of the business. The street ear system in the cities changed with slight warning from hoi so power te cable and electricity, and not only threw upon the market thousands of kersea that had been la use upon street ear Hues, but deprived of value many thousands of other thieo, four and lve~year-olda that wer# upon the breeding farms in readiness for the succeeding years' dessaad. Most of these animals were eaerilined, lu Philadelphia, New York and Chicago tkey were said at about $10 or $12, their actual value for rendering purposes. Following this came the yinic, and In addition to the disappearance of the market fer horses for general purposes there was no longer any demand for carriage or saddle horses, which are always the llrst to be cut off lu the days of adversity. Huudreds of breeders went out of business, but tke pluckier ones aeut agents to Europe to see If a market could not be secured. They found the hluropean tramways still using horses, and ia a short time American animals were supplautlng the scrawny stock, in use abroad. later many horses were disposed of to hluropoau armies, and when still later came a few wars the business was again upon its feot. Thousands of animals were seat to Cuba soon after the American occupation. There is still a good demand there for ths lighter animals, which are used for gardening, truck raisiug and small farming. The south also was induced by til# lew price of horses and the high price of mules some years ago to buy many of the lightweights for use iu the cotton field. The lioar war created a demand for nearly a hundred thousand animals, nighty thousand wore skipped in ono year by the Kscllsh, and tho western bronco became a familiar sight as au Iilnglish cavalry horse. Business men no longer buy the strootors for their own use. A streetor is a no rue that once was popular for light wagoua, cars and goneral use. These have been supplanted in most of the cities by tho sleek, heavy draft horses, products of tho breeding of imported stallions and native marcs. Not tho least interesting feature of the horse business is the annual visit of buyers to Franca and Belgium, whore pure bred stallions, raised by exports under government supervision, are yearly purchased by thousands. These are later refold to western farmers and breeders, who tiling nothing of paying from $1,000 to $4,000 for a pure breed. | From seven to eight thousand coach and draft horsos are yearly Imported from Europe. These animals are brought over In bunches of from 25 to 150, and they aro all being absorbed by the breeders. As many as 1,500 horses a day are disposed of at the larger marketing points in this country. Dealers declare It to be a fact that the price of horses has increased in the past live years at the rate of $10 a year. While tho standard car horse price in New York, before cables and trolleys came in, was from $110 to $125, horses of the same grade now sell at from $150 to $200, and are scarce at the new figure The outlaw horse, tho bucking bronco, is becoming scarcer each year. Ten years ago suck horses wore as plentiful as jack rabbin, but they will soou join the buffaloes in retirement. The outlaw comes from the poorest blood on tho range. He is said by cowboys to be a horse dogouorate, a criminal by nature, just as men go wrong who have poor blood in their veins. His parents are in nearly every case mustangs, and the stock is the same as the wild horse of early plain days. Cowboys say that nearly overy horse will buck if turned loose in a pasture for several mouths, but be will soon quiet down. The outlaw will buck no lunvtui nun iuu? V/I 11 w TV UUCM lit} 11(13 boon successfully ridden. Famous huckers are rare now. The bettering of the blood sounded the do&th knell ol the outlaw.?New York lun. Education In China. Education In China is free to all males. Hundreds of thousands compete for the honor of being a mandarin, as from that order alone the highest civil officers are ohoaeu, such as viceroys or governors of the eighteen provinces. These men have almost unlimited power, hut every three years they are called upon to make an exact report of all tho affairs of their province, including In that report a truthful account of their own faults. If this is omitted a committee of investigation at onco looks into It and tho viceroy, if-found guilty of hiding anything he should have confessed, suffers degradation, and sometimes death, if Ills offense Is a grave one. Censors also, at any time and always unannounced, arrive and cxamino the affairs of each provlnco. If, under this examination, anything is unearthed contrary to tho approved standard, the offender is at once punished. Therefore, as you seo, a good education according to Chineso ideas is the open door to the highest official places In the land. Nothing more Is required.?Sunset Magazine. Belgium's 190,000 Saloons. Belgium, where public libraries are almost unknown, has 190,000 public drinking houses. That means ono public house for 36 Inhabitants, or one public house for twelve men above 17 years of age, the publican Included. In the last fifty years the population has Increased 50 per cent, the number of public houses 258 per cent. The Ixindon police have a collection of more than seventy thousand seta of finger prints of criminals. CAUGHT AT LAST. Scion of i Wealthy Family Looted Many Homes i AND GOT A BIG PILE He Was Aided by His Evening Dress ai d Pashionable Demeanor in His Robbing Trip*, Which Has Been Going for a Yeai or More. The police of Brooklyn were astounded Thursday by the revelations following the discovery that in Herman Jensen, a young man who for three days had hern a prisoner at the Raymond street j til, they haye a fash lonable robber who has, within the past twelve months, duriDg which the authorities tried in vain to catch him, looted no less than one hundred homes in Manhattan and Brcokljn and whoee pllferirgs are alleged to aggregate $16,000 in jewelry alone. Letters found in Jenseti'struDk !uinlsbed evidence that the young man is the scion of a wealthy and well 1 known family in Copen hp gen, Den- 1 mark, from where he h?n \ epn ree.pt Irg an annuity. Documents showed 1 thai be whs highly educated and had moved in the test society. The police also found seventy pawn tickets 1 for stolen stuff aggregating $3,000, several suit casee, half a room full cf household goods, trinkets, jewelry 1 and a great quantity of the tluest kind of men's clothes. Jensen's specialty was robbing fashionable boarding ar d exclusive apart mento houses, In which his cultured air had made him a favorite and where he 1 won his victims by his many accomplishments. The evidence was fouuo in a room at No. 210 Seventh street, Brooklyn, to which he was tracked by the shrewdness of a negro maid of Miss Frances Adraln, of No. 105 Elliott place, Brooklyn, whose home was robbed two months ago. Jensen secured roomB at Miss Adrian's home through his line air and smooth conversation. A few days later he disappeared, and with him several hundred dollars worth of J iwelry ' and household stolf. MKs Adrian's maid saw him getting clT a car at Third avenue and Tenth street, and told the police. Detectives Gomerlnger, O'Connor , and Delaney made a search of the neighborhood and finally Inquired Thursday at the house of Mrs. Mary Fleming, in Seventh street. The detectives were convinced when they openc d the trunk and were surprised j to tind he was already Id prison on another charge. Ills picture was also \ in the Rogues' Gallery. The police say they have seventy complaints against Jensen, many of whom have identified his picture. All the victims declare the fashionable ( robber rented rooms, displaying ere . dentials, stayed one or two days, and then disappeared alorgwlth hundreds of dollars worth of loot. < Mcxioan OutlawH. A pitched battle recently took place ' In the Sierra Madre Mountains of Mexico near Tcmas between tbe band 1 of Juan Colorado, tbe noted outlaw, and an escort of seven men conveying a rich bullion train from tho Dolore.- ' mines to the Rio Grande, Sierra Mao re and Paoltic railway. Tbe bullion train 1 was ambushed by Colorado and his 1 gang In one of the wildest portions of ( the mountain oountry. William Smith, an American, was^ln charge of ( the treasure and Its guards. The at- 1 tack was resisted with desperation ( and the bandits were forced to retreat ( after several volleys had been tired and a charge led by Smith was made upon their position. During the light Smith was mortally wounded and two of his j men were killed cutrigbit. Colorado, , the outlaw chief, Is reported to have , ^een wounded. Three of Ms own were , killed. One of the mules of the pac k train, heavily loaded wPh bullion t( j the value of several thousand dollars. | sprang over a precipes during tbe ( W... 1 ~ J - L 1 - - uaititt aim wfj* u*MH O lO Tl' C 8. fie?oh(>r Kllit tl? At Kncxvilie, Term., on Friday ' right, the Rev. G. II Wells, colored was shot at d insi antly killed by Jan es Coram colore d, at tt e be me of a negro ' woman, where the preac) er had been called to pei form a weddn g cere mony. All were at supper, before the wi d- 1 nirin uihrn a * ? - t.uvu u uirpuni aiure over a trivial matter, Coiam pulled his pis- ; tol and tiring once at the pretcher, who fell dead, the bullet bavin# en tered near hie heart. Coram csctped. Following the it quest by the coroner, the coupie hunted up another minis* 1 fcer and we married. 1 Hook. liftiiKCd. Johann Hoch, the wife rourderpr, , waa hanged at Chicago on Friday. He was dead two mlnntes after the trap was sprung. A short t'me before the i hour set for the executtou Hoch's attorney filed a petition In V e United States circuit court asking Federal in tervention to save Hoch. The petition ( said that the State authorities were ( endeavoring to excute noch In violation of the Fourteenth amendment of the Constitution and without due pro- ( cess of laws. The petition was denied. |t BEAVERS IN STRIPES. A Former High Po?toltlco Olliolal in the Pen. Geo. W. Beavers, former chief of the division of salar&rles and allowances of the postoftloe, who began a term of imprisonment in toe Moundsvllle, W. Va., penitentiary last week, was the guest of honor of the Washington colony in that institution at breakfast after his arrival. Upon his arrival in the penitentiary Beavers was treated as the other prisoners from Washington who came with him; that is, he was stripped of the clothes he wore and, after a bath, whioh, by the way, he seemed verv much to enjjy, be was .uniformed in prison BlripcB. When this was done he was taken to the mess hall, where he was cordially greeted bv Machen, Lorecz and the Groffs, all of whom had guuo before, for tilmses similar to that which caused Beavers' downfall. While the new membercf the Wash lngton colony made a strong etiort to bear up, it was plain to be seen that; he was suIT.ring deep humiliation, and try as be would oould not shake ctf the signs of his disgrace. George W. Beavers, who pleadtd gu.lty In criminal court No. 1 to d?. fraudlng the United States, was sentenced by Ju.tJce Gould to Imprisonment) in the teuitentlary for a period t f two years, his term of service to begin upon his arrival In prlsou. Beavers was indicted jointly with State Senator George E. Green, of Bicgham, N. Y., of defrauding the government in connection wish the sale of Buudy time recorders for use by the po*t< ftlce department. When sentenced, Beavers expressed a desire to go lo the penitentiary as soon as possible to begin his term of imprisonment. Accordingly, Warden Harris, cf the district jail, soat him to Moundsville In company with fourteen other persons who were convicted In the local courts within the pajft month. Before leaving the jail the convicts were handcuff d and on&lned together in the usual way. A noon# the prisoners were three white men besides Beavers. Wheo the gang was lined up, Beavers was the odd man and was the last one to be slipped ou the common chain to which they were all linked by the handcuffs which they had upon their wrists. The prisoners were conducted into a coach of a Baltimore ar d Ohio train chained together, Beavers being the last of the hatch to enter the car. He consequently was given a seat In the rear end of the car, and while ho was able to view the humiliation which the others felt, none was able to see how ho bore his disgrace. Cotton Futures. Those who are In a position to know say that the speculating In the cotton futures In the {South for the past few weeks has been eaormous, and that It has resulted in a loss to this section of at least one hundred million dollars. It may be more or it may be leja. At any rate the loss is appalling. We are sorry to ssy that Swuth Carolina comes in for her full share of this loss, and It Is a deplorable fact that many farmers have rushed headlong Into this speculating cataclysm, throwing their hard earned dollars into the laps of the despollers of thier prosperity, and may bo, Integrity. This wild, avetIcious, fretzled spirit, to get somtthing for nothing, has long prevailed In 01 r cities and towns, among those who bet on thu future pr-co of ottou a.--rl nthp.r farm ? ? |/&vuuv/i;0) UUU 11UU UI1 bll quite recently h*s its baneful influences reached out Into the o untry to any extant. The slogan has none ft rth from the Southern Cotton AslOtii&tlon that the speculators, gaoibiers and manipulators of cotton prices to the Injury of the producer must he Iriven out. This was the rallying cry :>f the cotton growers and busing men of the South when they met to Hganlza the Southern Cotton Association, and the South would be millions )f dollars better off each year if it was uriled out by all our people. liOst Bonds Turn Up. The Columbia Rtcord says some of the coupons for the celebrated Cornelion bonds have turned up. The sb te treasurer received them the other day with request for Interest for the year 1901. Efforts are now being raar!e to li ace them, as they are now in the hards rf the Palmettp bank, an iDno 3 nt puichaser. The Comelson bonds have an in'eresfclng history. Therein just 910,000 In the lot a*~d they were held by Mr. Adolph Cornelson, brother of Mr. Geo. II. CnrnAiam r* will bo remembered that M\ Adolph C rnelson went from this placo some pears sro to Australia, where he died. He bad these bonds with him, and after hltt dea' h they ould not be found Efforts have been made to get the legislature to reimburse the helra of the estate for the mis Ing boids. This has always been refusal The num hers of the hoods weje obtained aud when the 1901 Inter* st coupons were sent down recently Mr. Geo. H. Oj nelson, of this city, was notltl d. It Is said that the hoods wore brought from Australia by seme rue and sold nn the New York market just after Mr. Adolph Cornelson died In 1901. Who sold them, or where they got them, is not known. Wilt H?tu to Stand. The Minneapolis Journal says that imp microbe br eds 140,000,000 In a day. This s ems Incredible, but the deuce of It Is wd can't dlspiits it We haven't counted them, and until we can take & day off from business matters to do this bit of census work the Journai's count will h&vo to stand. ODD WAYS OF WALL STREET. Seme Lucky One Have Won In the "Street"?Thousands Have Lost. "Tho Winning Ways of Wall Street." This la a subject which has bothered meu la gonoratlous past, is now a poteut source of worry and bids fair to affect master uiiuds of future generations serioya ty. Much wore easily might ouo write about tho losing ways of Wall atreot. Many people Mats come to realize the fact that the stock exchange is not built for charity; that It is a business proposition, and some even go so far as to say it k? a game of chance. Few men la their Li You have not boon tempted to contribute a few dollars In order to either "hull" or "bear" the market. It is safe to say that a majority of these have hoan bitten. A man who, probably toiling early and late, lias managed to accumulate a few dollars, thinks perhaps there ia a chance for him to become rich, lie takes his money, goos down to a broiler's office, and in 1)9 oases out ut one hundred ho finds that his money has boon swallowed tlirough manipulation of tho markst, or maybe tn rough a legitimate 'rise or fall in stock values. But'The man has a chance with his few dollars. IIo has a tip, probably, that his stock is going up, and, perchance, ho may put his dollars on some particular stock that he has some information about. He buys because tho stock has jumped 10 points and ia in a fair way to go higher. "With a small sum of money the best way to do is to play the 'pyramid game,'" said a well known broker to a News reporter. This In horse racing eirelos Is similar to "paa* im7 iig m. B?l., 113 OXpi3Hn<Ml. "Pyramiding" on the stock exchange, Just like "parlayimg" at th? race tracks, would tnoau to the business man the investing of money at compound Inter oat. The reader will understand that it is a case where both money and warnings are reinvest ad la a new Ten fare. There was a caso just recerHy where a tip was received from < dcage that a certain stock would go to 45, and it might be well to buy. Late the same afternoon an order was received and the one man who took advantage of the cue walked away with a small fortune, and th? traders are now expecting to see blua appear as one of the loaders on the exchange. This man was of the small Investor class and had pooled a ten dollar bill with friends, who could risk but similar amounts, lie won. He had been led along by the "Winning Ways of Wall Street," but, unlike many other "little plungers,"he walked away with goldbacks. There is no authentic record of the disgrace or unhapplness, the wealth and happiness brought to thousand* who have "taken a chanco" with Dame Fortune with small amounts, either to end their careers as groat financiers, criminals or suicides. For years bankers have employed private detectives to watch their employes, not especially doubting their honesty, but to prevent their becoming Inoculated with the Wall street "get-rlch-qulck" dlsoase. From a telegraph operator the writer loarned that $14,000 had b 'U* taken by a small speculator on a r'nglo deal. This happened within si* months, when the Investor put $10 on one stock. Tie permlted the surplus to rtow and finally Invested In another stock. This went from 18 to 32. He was ndvUed to close out. at that point, but suggested that It might he well to 'et It go to 35. TTe took the advice of those to^^Btu he had entrusted his mono> ^l thereby saved the whole amount. From this one deal a "tipster" earned $4,500. The "tipster" Is one of the requisites in deal'ng on the 'change. Ho Is as common as Is his counterpart, the tout, at the race track, although at times It happen* that even the "tipster" may be wrong. He Is no oracle. TTe slmnlv follow* the market su does the rn?* track tout and glvee expression to bin onlnlons, which are generally subsidised. Though the path of the "small Investor" In beset by such obstacles as the unscrupulous "tipster" acting In league with Irresponsible brokers, It do?s not follow tha^^to small investor Is wholly wlthr* <^>1nme. rne quirk accumulation of wonHh is the ambition of so many that the-o must necessarily be a "moth and flame" story often. "Small speculators," said the oldlimer on the street, do not. comprehend the conditions of the market in most rases, "hoy buy without studyhie; the previous status of their stork, and thov cannot understand why it Should drop when It started to rlso, nr-1 they rare nothing for national or shite 1 o<*ipfation afTeo'lng qnasi-nublio corporations, which is a vitallv Important factor in the stock market. "Timre are secure and lnsorure stocks," bo continued, "and T must ray that, our small investor is mora apt to place his money on 'w'ldcat' schemes promising big and quick roturns than in stable investments, which Rive slow but mire results. "Ob." sierhed the^^d-tlmcr. "as bo walked away, "T'v.^^con watching this game for thlrtjr-jc'ars; T'm nearly tltfoiiflfh. but T'm not rich yet. "And I've sent, some ten-dollar bills to the bad at that." be added, as ho ^ passed into the Broad Exchange. r| B vJB r