In St. Louis the Federal grand jury has brought in two indictments, with a total of seventy-two counts, against the Waters-Pierce Oil Company for violation of the Elkins Anti-Rebate law. If convicted on all the counts the maximum penalties would exceed a million and a half dollars.
The proceedings taken by the attorney general of Texas to oust the same company from that state have developed a collateral sensation of great size. Attorney General Davidson demands of the defendant company certain vouchers which, it is alleged, will show that Senator Joseph W. Bailey was paid various sums of money by the Waters-Pierce Company to secure its readmission to the state, and gives out that if this evidence is not forthcoming, secondary evidence will be offered to establish the alleged fact. Senator Bailey indignantly denies that he received any such sums, and announces that he will prosecute for perjury anyone who swears to the existence of such evidence. Senator Bailey has already been nominated by primary, but his re-election will come before the legislature which convenes in January.
In the meantime the New York Central Railroad and the Sugar Trust have been fined heavily for, respectively, giving and receiving rebates.
The Insurance Situation.
One of the results of the investigation conducted by the Armstrong committee into the affairs of the New York and the Mutual Life insurance companies was the enactment of legislation providing that the affairs of the two companies should be taken out of the hands of the existing boards of trustees, that all outstanding proxies should be invalidated and that the policy holders should be given an opportunity to choose the men who should thereafter manage the affairs of the two companies. In pursuance of this law the policy holders began voting on Nov. 18 and continued to cast their ballots for or against the administration tickets until Dec. 18. In the New York Life the administration ticket consisted of “the best of the old trustees,” together with some new blood, while an opposition ticket was presented by the International Policy-Holders Committee, of which the Hon. Richard Olney was chairman. In the Mutual contest there were three tickets: an administration ticket, the United Committee’s ticket and a fusion ticket. The second of these was so called because it was the product of the united efforts of the Mutual Policy Holders’ committee and the International Policy Holders’ committee of which Mr. Samuel Untermyer was the chief organizer and sponsor. The fusion ticket was made up of candidates from the administration and the Mutual Policy Holders’ respective rosters. At the time we go to press the result of the elections is not known.
ROBERT E. PEARY.
Farthest North.
Commander Robert E. Peary has returned from his expedition to reach the north pole. After suffering innumerable hardships he reached a latitude of 87 degrees and 6 minutes. This was within 203 miles of the coveted goal and thirty-four miles farther than the point reached by the Duke of Abruzzi expedition, which had hitherto held the record.