186 
THE RURAL NEW-YORKER 
PUBLISHER’S DESK 
If Governor Hughes knew how farmers 
fee! on that cattle case it would not take him 
long to kick Dawley and his supporters out 
of State positions. I could collect $1,000 
in my neighborhood for The It. N.-Y. to 
continue this fight, if it needed the money. 
That is practically word for word 
what an Ulster County farmer told me 
at the Hudson River Fruit Growers’ 
meeting last week, and his neighbor, who 
heard the remarks, endorsed the senti¬ 
ment. On reflection, we think, it will 
be admitted that The R. N.-Y. is get¬ 
ting more credit than it deserves in this 
case. We have absolutely done nothing 
but our duty in the case, and deserve no 
more thanks for it than any man or 
agency that performs its plain duty to 
the best of its ability. It is the same 
thanks exactly that an , employee or 
hired man of yours will merit when 
he boldly faces a disagreeable task and 
sticks to the job until it is finished. It 
is only because of the shirking of their 
duty by some papers that The R. N.-Y. 
has become so conspicuous in this case 
because of the simple performance of 
its duty. 
Please explain why Cayuga County farm¬ 
ers’ fire insurance rates are $2.50 a thou¬ 
sand, and Ontario farmers’ insurance $1 
a thousand? j. f. s. 
New York. 
If the inquirer is insured in some 
one of the numerous co-operative com¬ 
panies the difference in rates is account¬ 
ed for by one of two things; first, the 
losses must have been much larger in 
Cayuga than Ontario County for the last 
year, as the rates are made by them, or 
because the one company was run more 
economically and better managed. Prob¬ 
ably the reason the rates in Cayuga 
County were so much more than that of 
Ontario County is due to the fact that 
the company had more than its usual 
amount of losses, or else collected to 
pay losses in arrears, or to provide a 
sum to pay future losses with. As v a 
matter of fact, the rates that a patron 
pays for one year as compared to the 
rates paid by some one else in another 
company is no criterion of the relative 
merits of the two companies, and the 
only way to get at it is to have a state¬ 
ment of the companies to be compared 
for a number of years as the losses vary 
very much. In the larger co-operative 
companies which carry a large amount 
of insurance in force and extend over a 
large territory, you get more of a uni¬ 
formity and less variation in the rates. 
Will you let me know what you can learn 
of the Postal Life Insurance Co. of New 
York? Would you advise buying stock in 
said company? f. w. e. 
Vermont. 
This company was organized in 1904 
as the Life Insurance Club of New York 
by one Richard Wightman. The scheme 
was to issue policies from advertising 
and do away with agents. Some respon¬ 
sible papers and magazines permitted the 
advertising to appear as clubs of the 
papers and magazines in which the ad¬ 
vertisement appeared. It is reported 
that Mr. Wightman is now out of the 
company and the new president refuses 
to make a statement as to its financial 
affairs. It is reported as doing a small 
business, and so far living up to its con¬ 
tracts, but as to recommending an in¬ 
vestment in the stock we should say 
emphatically “no.” 
Last week involuntary petition in bank¬ 
ruptcy was filed against the White Clover 
Farms, wholesale and retail milk dealers, 
162 East 86th street, New York City. 
The creditor’s claims amounted to $3,094. 
It will be remembered that we gave a 
report on this concern some time ago 
on request of a subscriber. They re¬ 
fused any statement of their affairs, had 
no satisfactory rating or reference and 
caution was recommended in the exten¬ 
sion of credit to them. It is a safe rule 
to go slow on credits to a concern which 
refuses a statement of its affairs when 
looking for credit. 
Do you consider the Manhattan Co¬ 
operative Real Estate Co., located at 7 
East 42d street. New York, reliable? Would 
you advise buying stock at $15 a share? 
Any information relating to their standing 
would he much appreciated. a. m. a. 
Connecticut. 
This company has an authorized capital 
stock of $1,000,000, and it is said con¬ 
siderable of the stock was issued to take 
over lots at Yonkers, N. Y. You can 
feel pretty sure that the lots were valued 
at the time up to their full value. The 
present net assets according to the esti¬ 
mates of the officers are about $132,500. 
Last Fall the company had some em¬ 
barrassment in reference to a contract 
with a builder, who had engaged to build 
some houses, and suit was filed to fore¬ 
close a mechanic’s lien. There was also 
some difficulty about a mortgage on 
which payment was demanded. These 
matters, however, seemed to have been 
adjusted; but the stock we would not 
recommend as an investment for farm¬ 
ers. New York City advertised $50,- 
000,000 of bonds last week at 4% per 
cent interest. Bids were received for 
$300,000,000, offering about $104 for the 
$100 bonds. You will see from, this 
that there is lots of money in New York 
City looking for safe investment, but 
such experienced investors do not take 
up stocks until they are absolutely sure 
of the quality of the security. 
An example of the way stock and bond 
values are created out of water or wind 
is afforded in Charles W. Morse’s con¬ 
solidation of six steamship companies. 
Morse bargained for the control of these 
six companies, the aggregate value of 
which was about $40,000,000. He then 
merged the whole in one company with 
a capital of $60,000,000, and not content 
with this $20,000,000 of water, he bonded 
the new company for $60,000,000 more. 
If he had succeeded in selling all of the 
stocks and bonds at par, he would have 
cleared a profit for himself of $80,000,- 
000, and would still have control of the 
company. In taking over the ownership 
of these six companies into one organi¬ 
zation, Morse did not add a dollar to the 
value of the properties or to their earn¬ 
ing capacity. The investors who bought 
these securities at par simply paid a dol¬ 
lar and got about 33 cents of value. 
Manipulation and payment of dividends 
might have kept the price up for a time; 
but ultimately the stock must shrink to 
a level with the actual value of the prop¬ 
erty. Attempts, however, to pay inter¬ 
est on the bonds and dividends on 
the over capitalization of stock impairs 
the efficiency of a concern of this kind. 
Improvements are neglected; and the 
success of the business is jeopardized to 
make a showing for the sale of secur¬ 
ities. Since farmers are invited to in¬ 
vest in stocks and bonds of this class it 
is important that they know the nature 
of them. 
Aside from organizing the steamship 
company, Morse organized the ice trust 
and a chain of banks, using the funds 
and deposits of one to buy others; and 
thus using all to control the other com¬ 
panies. This was one of the factors in 
starting the panic last October, so that 
Morse’s operations affect and concern 
every person in the country. In every 
civilized country on the face of the globe, 
except in the United States, overcapital¬ 
ization is recognized as an evil and is 
prevented by law. President Roosevelt 
has called attention to it in vigorous 
language, and as soon as the people 
understand it, they will insist on a law 
to control the issue of stocks and bonds. 
In the meantime the schemer will go 
right on abusing the President, on one 
pretext or another in order to attract at¬ 
tention away from the important re¬ 
forms he recommends. The dog that is 
hit always makes a noise, but the cur 
often yelps at approaching danger to 
himself personally. 
Indictments have been filed against 
Morse by the Grand Jury, and he is now 
under $20,000 bail. This is good as far 
as it goes. While he was prospering and 
in the system he could and probably did 
violate the law with impunity, but when 
he is broke—down and out, so to speak 
—then the law steps in to demonstrate 
its majesty. Morse followed the tricks 
and customs of the high financiers, and 
for a time prospered; but he did not 
have the backing of life insurance funds 
and other resources of the people that 
are at the disposal of others; hence at 
the critical moment he failed, while those 
he strove to copy succeeded. What Morse 
did other eminent and respectable bank¬ 
ers and financiers are doing every day, 
and everyone familiar with financial in¬ 
stitutions and Wall Street gambling 
knows it. Morse was not in the inner 
circle, and failed. Hence he is in the 
clutches of the law, while the eminent 
financiers whose methods he copied are 
hailed as the savers of the finances of 
the country. The truth is that the bank¬ 
ing laws and the corporate privileges are 
all arranged in favor of stock gambling 
and counterfeit securities, and the men 
who have been making millions at the 
game are not disposed to give up the 
privilege without a struggle. 
Those 10 weeks for 10 cents subscrip¬ 
tions help keep the new press busy; and 
80 per cent of them renewed last year. 
If you can help the cause, send one or 
more along as you get the chance. 
J. J. d. 
Davis* S. C. R. I. Reds 
HEAVY layers and prize winners, good size, shape, 
color: farm raised; won 30 regular prizes season 
1908, large brown eggs, fresh, fertile, $5 per 100, 
special matings $10 per 100. 
DAVIS’ POULTRY FARM, Berlin, Mass. 
R. G. RHODE ISLAND REDS. 
EGGS FOR HATCHING. 
Mating list, giving description of all pens,sent on re¬ 
quest. SINCLAIR SMITH,6025th St.,Brooklyn,N.Y 
\J an Alstyne’s S.C.R.I. REDS—Eggs for hatch- 
V ing $6 per 100. Send stamp for catalog of breed¬ 
ing pens. E. Van Alstyne & Son, Kinderhook, N. Y. 
Cf'f'0 $1 per 15; $2 per 40, from thoroughbred 
CUuO Brahmas, Rocks, Wyandottes,Beds and Leg¬ 
horns; 13 var. ; cat. S. K. Mohr, Coopersburg, Pa’ 
1 IRUT RRAHMA^- Three firsts, two seconds 
Liuni DltHn ITiMO and best display, at Phila¬ 
delphia, 1907. Some fine birds for sale. 
J. A. ROBERTS, Malvern, Pa. 
Giant Strain Bronze Turkeys, 
R. C. R. I. Red and White Wyandotte eggs. 
H. J. VANDYKE, Gettysburg, Pa. 
Pfl II 1 TR YM P Send for our now 36-page illus- 
1 U U L 1 Tl 1 IVI L IN trated poultry catalogue. Abso- 
utely free. East Donegal Poultry Yards,Marietta,Pa. 
BUFF, Wh. LeghornR, Eggs 75c. per 15, $1.25 per 30 ; S. C. R. I. 
D Red Eggs 90c. per 15, $1.50 per 30: Mottled Ancona Eggs,$1.00 
per 15, $1.75 per 30; cat. Iree. J01LY A. ROTH, Quake rtown,Pa. 
THOROUGHBRED POULTRY-Best 20 varie- 
1 ties. Good stock. Fresh eggs, 15. $1; 40, $2. 
Catalogue. Henry K. Mohr, Rt. 3, Quakertown, Pa. 
SINGLE GOMBWHITE LEGHORNSi’ n r.K 
lent layers, $1.60 per 30 eggs; $2.25 per 50, and $4.00 
per 100. PETER J. LITTLE, R.D. No.l, Howe, Pa. 
CO Fine Brown Leghorn Ckls. at ki price. 
Collie Pups: females cheap. Address 
NELSON BROS., Box E, Grove City, Pa. 
LARGE TOULOUSE GEESE, Wdns™ 
W. Wyandotte Cockerels, $1.50, $2 and $3. Eggs 15, 
$1; Pearl Guineas, 75c. E. Schieber, Bueyrus, Ohio 
Rhode Island Rod* sSS'SVirc&JSK 
from best laying strain, $3 to $5. A few trios,$5,sold 
on approval only. O. S. THWAITE, Keyport.N.J. 
RARY PIUPYQ and eggs after Feb.15th. Order 
DADI UlllUIVd ato6weeks ahead. Can ship 
1500 miles. R. I. Reds,Orpingtons,Minoreas, Rocks, 
Leghorns. Cincinnati, Indianapolis, Detroit,Toledo 
winners. CORNISH FARMS, Edwardsburg.Mich. 
XXIright’s White Wyandottes— Prize winners, 
(Duston’s). Eggs $4.00 per 100. Baby chicks 
$10 per 100. Grandview Farm, Stanfordville, N. Y. 
EMPIRE STATE S. C. WHITE LEGHORNS, 
winners at N. Y. State Fair; Trios, $5.00. Eggs for 
hatching from heavy layers, $1.00 for 15, $5.00 for 
100. Catalog free. C. H. Zimmer, Woedsport, N. Y. 
CCOTCH COLLIES, Spayed Females, two to 
O eight mos. Circ. SILAS DECKER, Montrose,Pa. 
/MILLIE PUPS—Sable and white, fashionable breeding. Berk- 
U shire Sows, 3 1-2 mos. old; Chester White Sows, bred for 
March farrow. Extra good, W. A. LOTHKRS, Peru Lack, Pa. 
BUSINESS BARRED 
PLYMOUTH ROCKS. 
The breed that lays. Eggs for Hatching. 
15 for $1.75 
Breeding stock $3.50 per head 
FANCIERS STOCK FARMS, 
P. O. Box 171, Long" Branch, N. J. 
R ft N III 1 P RRAE For Sale—Lot of May 
rP.. n .!ILr. Z.JZ. hatched Single Comb 
POULTRY FARM. White Leghorn pullets 
* WULII1I iHniB, a nd cockerels at $1.00 
NPW Rnnhpllp N Y each. Also Madison Sq, 
IlCn IIUUIIGIIG, 111 !■ ribbon winners in Single 
and Rose Comb White Leghorns, Barred and White 
Rocks, White Wyandottes, American breed Pekin 
ducks and pure breed Pekin ducks from Japan. 
Write your wants. 
PRIZE ORPINGTONS 
S. C. BUFF ORPINGTONS, S. C. BLACK ORPINGTONS, 
S. C. WHITE ORPINGTONS. 
From tlic host blood that could he had regardless of cost. 
Eggs from Yard No. 1, $5.00 per 15, $9.00 per 30. 
Eggs from Yard No. 2, 3.00 ‘‘ 5.00 “ 
Eggs from Yard No. 3, 2.00 “ 3.00 '* 
Special prices in large quantities. Have also a 
few choice birds for sale at reasonable prices. 
OUPINGTON POULTRY YARDS, Mt. Washington, llalti. t’o., Md 
J. KDW1N GRIFFITH, Prop. 
WOODLANDS FARM. 
Record Laying," Strains of White Wyandottes, 
Barred and White Plymouth Rocks and S. C. 
White Leghorns - 835 Trap Nests. 
Bred for large, symmetrical size, vigorous consti¬ 
tution and prolific laying, combined with all the 
standard requirements. Address 
L. T. HALLOCK, Proprietor, Iona, New Jersey. 
BLACK ORPINGTONS, 
WHITE LEGHORNS. 
GUARANTEE SATISFACTION. 
ENTERPRISE POULTRY YARDS 
No. 39, Ridgefield, Conn. 
Pure Bred Mammoth Bronze Turkeys 
bred from the most noted winning strains; extra 
heavy boned, large frame and beautiful plumage; 
some good specimens for show birds. Address 
ELKTON STOCK FARM, Forest Depot,Va. 
BONNIE BRAE Pekin Ducks,MadisonSq. blue 
r,. ribtion winners, American 
POULTRY FARM breed; also pure breed Japan- 
», n ... »t ese Ducks and their eggs for 
New Rochelle, N. Y. sale. Write your wants. 
EPPO COD UATPUIMP White Wyandottes, Barred Ply- 
LUUO rUll UAIUnmU mouth Kocke, Buff Wyandottes, 
S. C. White and Brown Leghorns, White Plymouth Hocks Single 
Comb Khode Island Keds,$l per setting. 75 # fertillty guaran teed 
Day old chicks, 15c each. A. A. VAN W1E, Schenectady, N. Y 
EGGS FOR HATCHING 
from fancy matings. S. C. White Leghorns, S. C. Brown Leg- 
tiorns and Barred Plymouth Bocks. $1.00 per setting; $3.00 per 
50; $5.00 per 100 eggs. Baby chicks 15c each. Birds for sale at 
reasonable prices. G. A. SABINE, Robinson, A. A. Co.,Maryland 
-SHELSOIUBIEMII 
Bright, shining, sharp. Increases diges¬ 
tion. Lime ana minerals make bone and 
pie free so you test it for yoursel 
EDGE HILL SILICA ROCK CO., 
Box J , New Brunswick, N. J. 
February 29, 
FIRST-CLASS UnilCD DlftCnilC FOR 
mated numcrt riucuivdsALE 
Consult your interest before purchasing breeding 
stock by writing Wm. O. Smith for prices and other 
particulars. WM. O. SMITH, Germantown, N. Y'. 
’08 SQUAB BOOK FREE 
Plymonth Rock Squabs are largest, most 
We were FIRST ; our birds and 
lods revolutionized the industry. 
Send for our 1908 Free 
Book, telling “How to Make 
Money Breeding Squabs." 
PLYMOUTH ROCK SQUAB CO. 
335 Howard St. Melrose, Mass. 
GGS FROn BONE 
Green cut bone doubles egg yield. More fertile 
eggs, vigorous chicks, early broilers, heavy fowls. 
MANN’S lat b e o s n t e m c°u d t e t l E r 
10 days free trial. No moneyln advance. Send It 
back at ourexpenseifyou don’t like it. cat’lgfree. 
F.W.MANN CO., Box 15, Milford, Mus. 
POULTRY 
ww SUPPLIES^ 
[ We sell everything the poultryman needs. I 
Incubators, Brooders, Foods, Remedies, Lice 
Killers, Wire Netting. Get our catalog be - 1 
fore you buy. Write for it today. It’s Free. 
United Incubator & Poultry Supply Mfg. Co., 
Dept, ifl, 26-28 Vesey St, New York City. 
R eal profits 
Proved in Poultry 
Guaranteed best hatcher is Cyphers 
Incubator proved so by beginners, ex¬ 
perts and Agricultural Experiment 
Stations. Write to prove It by our 
ITRCTP 212-page Book, illustrates what 
BllC. Et others are doing towards making 
I Poultry Pay Big Profile. Money-Back Guarantee. 
Cyphers Incubator Co., Buffalo, N. Y» 
N. i., Boston, Chicago, K. City, Oakland, Cal..Lon don 
Incubator Whys 
Our new book, telling Whys and Wherefores I 
of Poultry Profits—Why Ertel machines make 
most for their owners; how hatches are uni-1 
formly over ninety per cent with our ma- j 
1 chines; how we pay freight and why our 
l prices are lowest — will be sent you free. 
- - j 4. 1-, 
►the vast difference In results 
between Ertel Incubators 
and others. Please say 
'whether Interested In largo I 
machines or a small outfit, f 
GEORGE ERTEL CO., QUINCY. ILL 
You’ll Start Raising 
Chickens When You 
Get My Price — — 
Let me quote you my 1908 low price for 
a Chatham which will start you making 
extra chicken profits when you read my 
valuable new free book. 
Chatham Free 1908 
Gives you the benefit of my 
B0 years’ successful experi¬ 
ence FREE— write near¬ 
est office for it today. 
The Manson Campbell Co., 
163Wesson Av.Detroit.Mich. 
1308W,llth St.Kans.City.Mo. 
82 E. 3rd St., St. Paul, Minn. 
Dept. 2. Portland. Ore. 
.15 
Buys the Best 
120-EGG 
Incubator 
ever made 
Freight Prepaid East of Rocklea 
Double cases all over;best 
copper tank; narserv; self¬ 
regulating. Best 100 chick hot-water Brooder, $4.35. 
Both ordered together, $11.00. Satisfaction guaran. 
toed. Nomachlnesat any prlceare better, write for 
our book today or send price now and save waiting. 
Belle City Incubator Co., Box 48, Racine, Wis. 
GET MY LOW PRIC ES 
Before yon buy an Incubator. 
I manufacture 1 n largequantities 
and sell direct to you. 
inFdf Hot-Air and 
1HLHL Hot-Water 
Incubators and Brooders 
hatch more chicks and stronger 
Send for my big free handsomely 
“Poultry for Profit.” 
J. W. MILLER COMPANY. Box 97, FREEPORT. ILL. 
chicks, 
illustrated 
book, 
Hatch Chickens by 
Steam with the 
EXCELSIOR INCUBATOR 
Or WOODEN HEN 
Simple, perfect, self-regulating. 
Hatch every fertile egg. Lowest 
priced first-class hatchers made. 
GKO. U. STAHL, Quincy, lli 
INVINCIBLE HATCHER 
Guaranteed to hatch every fertile 
egg- Guaranteed to hatch more 
H ——» healthy chicks, with less labor, at 
I I less cost than any other incubator. 
“ If I You take no risk. A genuine free 
trial in your own home—you need send us no money. Spe* 
$ MK AA cial combination offer. Incubator and 
JrA aW Brooder $7.15. Brooders $3.25 up. Very 
b|| 11D h)\v prices on all supplies. Get 224-page, 
Hi wa 1908 Catalog. Free. Write today. 
THE UNITED FACTORIES CO., Dept. 31X, Cleveland, Ohio 
hatched with Reliable Incubators. 26 
years have made them perfect. Write 
now for the most interesting Big Poultry 
,Book ever published. Contains valuable 
,information on all phases of poultry. 
_ It’s free. 
Reliable Incubator & Brooder Co., Box Bl 1,Quincy, III 
45 BREEDS BEST POULTRY 
Bine book illustrates and tells all about poultry, 
feeding, care, diseases, our big premium offer. 
Low price for stock and eggs. Best way to rid 
poultry of lice, make money, etc., only 10c. 
JOHN E. 1IEATW0LE, Harrisonburg, Ya. 
