15% WITHOUT Our investment does not interest those who are willing to speculate with their money, but commends itself to the careful investor seeking a fair return on his savings. INDUSTRIAL SAVINGS and LOAN CO. has earned a reputation for reliability and prompt dealing not surpassed by any institution of its kind. Our business, established 12 years, is conducted under the supervision of the New York Banking Department, by whom it is examined each year. Our Patrons are Protected by assets amounting to almost two million dollars. Our loans are made upon the best class of New York and Suburban Real Estate-to home-buyers, who pay us interest and part of the principal each month, which is in turn re-invested. Pay 5% Per Year On Your We Savings THE OUTLOOK is a Weekly Newspaper and an Illustrated Monthly Magazine in one. It is published every Saturday-fifty-two issues a year. The first issue in each month is an Illustrated Magazine Number, containing about twice as many pages as the regular weekly issue, and many pictures. PRICE. The subscription price is Three Dollars a year, payable in advance. Ten cents a copy. POSTAGE IS PREPAID by the publishers for all subscriptions in the United States, Hawaiian Islands, Philippine Islands, Guam, Porto Rico, Tutuila (Samoa), Shanghai, Canal Zone, Cuba, Canada, and Mexico. For all other countries in the Postal Union add $1.56 for postage. CHANGE OF ADDRESS.-When a change of address is ordered, both the new and the old address must be given. The notice should be sent one week before the change is to take effect. DISCONTINUANCES.-If a subscriber wishes his copy of the paper discontinued at the expiration of his subscription, notice to that effect should be sent. Otherwise it is assumed that a continuance of the subscription is desired. HOW TO REMIT.-Remittances should be sent by Draft on New York, Express-Order, or Money-Order, payable to order of THE OUTLOOK COMPANY. Cash should be sent in Registered Letter. LETTERS should be addressed: THE OUTLOOK COMPANY Chicago Office, 1436 Marquette Building 287 Fourth Avenue, New York Copyright, 1905, by The Outlook Company. Entered as second-class matter in the New York Post-Office. About the Word "Worcestershire.” Over seventy years ago, Lea & Perrins first put on the market a table sauce known as Lea & Perrins' Worcestershire Sauce It has since gained a world- crude imitations the "genuine." But the Original and Genu tation! Do Not Be Deceived. Take No Imi John Duncan's Sons, Agents, New York. Table Linens For Summer Homes, Camps, and Yachts. In a large assortment of good designs. Breakfast Size, $1.50, 2.00, and 2.50 per dozen. Dinner Size, $2.50, 3.00, 4.00 per dozen. 2 x 2 yards, $2.00, 3.00, and 4.00. 85c., $1.00, 1.25, and 1.50 a yard. Mail orders have prompt attention "The Linen Store" The President on MAY 20, 1905 SATURDAY, MAY It is evident that those who believe in government regulation of railroad rates have a long and difficult conflict before them; but it is also evident that this conflict will not be abandoned by them. The sedulously circulated. rumor that the President is prepared to accept what the Senate is prepared to offer-some legislation against the private car and personal rate discrimination— evidently reached him during his vacation, for almost his first after-vacation speech, that at Denver on May 9, was a vigorous repudiation of this rumor. Two or three sentences from this speech must suffice here to illustrate his spirit and exemplify the principles for which he stands. The italics are ours. "I want to say a word as to a Governmental policy in which I feel that this whole country ought to take a great interest, and which is itself but part of a general policy into which I think our Government must go. I speak of the policy of extending the power of the Inter-State Commerce Commission, and of giving them particularly the power to fix rates, and to have the rates that they fix go into effect practically at once. . . . We see railways grow up, each of which is controlled by a single corporation or individual, sometimes several of them being controlled in combination by corporations or by a few individuals. When such is the case, in my judgment it is absolutely necessary that the Nationfor the State cannot possibly do it—should assume a supervisory and regulatory function over the great corporations which practically control the highways of commerce." Almost simultaneous with this speech was one by Secretary Taft at the International Railway Congress, and it was similar in effect. He said: The law now is, as decided by the Supreme Court of the United States, that first a commission and then the courts may decide whether a particular rate is reasonable or unreasonable. Now, in fixing that, in the very mental process in determining whether a rate is reasonable or unreasonable, one has got to fix what is a maximum rate. As I understand it, what is proposed is only that in litigated cases a commission shall be constituted that shall fix a maximum rate; in other words, to go through the same process it now goes through to determine what is a reasonable rate. What I am strongly in favor of, though, is that we shall have a body that shall decide things and that shall fix things, and that those things shall be decided within a reasonable time finally by the courts. We believe that the country is with Mr. Roosevelt and Mr. Taft, and that if the question whether Government shall have power to regulate the rates upon the highways of the Nation or whether the railroads shall be run as a private business is run, should be put before the country, the majority in favor of Government regulation would be even greater than that cast for Mr. Roosevelt at the last Presidential election. Quite as important as the general statements of Mr. Roosevelt and Mr. Taft is the more specific opinion of the Attorney-General respecting the power of Congress in this matter, important because it indicates very clearly within what limits and by what methods that power may be exercised. Of that opinion we have given some account in another column. Strike The most important feature The Chicago in the history of the Chicago teamsters' strike last week was the interview in Chicago on Wednesday which President Roosevelt gave to Mr. Shea, President of the Teamsters' Union, and his colleagues. Mr. Shea presented to President Roosevelt an appeal in behalf of the trades-unions involved in the strike, denouncing in unmeasured terms any use of Federal troops to preserve law and order, and calling upon the President in somewhat rhetorical and excited language to refrain from ordering out the soldiers of the regular army, even if the officials should ask him to do so. The President met this appeal in his characteristic outspoken and courageous manner, In a kindly spirit, but very frankly, he criticised the "unfortunate phrasing of the document." He said: I have not been called upon to interfere in any way, but you must not misunderstand my attitude. In every effort of Mayor Dunne to prevent violence by mobs or individuals, to see that the laws are obeyed and that order is preserved, he has the hearty support of the President of the United States-and in my judgment he should have that of every good citizen of the United States. . . . I am a believer in unions. I am an honorary member of one union. But the union must obey the law, just as the corporation must obey the law; just as every man, rich or poor, must obey the law. As yet no action whatever has been called for by me, and most certainly if action is called for by me I shall try to do exact justice under the law to every man, so far as I have power. But the first essential is the preservation of law and order, the suppression of violence by mobs or indi viduals. With these ringing words every patriotic citizen and every real friend of the trades-unions ought heartily to agree. At a banquet given to him by the Iroquois Club the same evening the President deprecated class spirit. "This Government," he said, "is not and never shall be the government of a plutocracy. This Government is not and never shall be the government of a mob." Those immediately responsible for dealing with a local situation, the President said, must first exhaust every effort before a call is made upon any outside body. "But," he added, “if ever the need arises, back of the city stands the State, and back of the State stands the Nation." These utterances of President Roosevelt evidently had their effect, for last week there were fewer manifestations of violence than during the week preceding. Wagons continued to travel through the streets accompanied by police. In one instance a strike sympathizer was shot and killed by a deputy sheriff for attacking a non-union driver. The chief of police gave orders that policemen should ride on the wagons where convenient to do so. A delegation of labor leaders called on Mayor Dunne to protest against this order, but the Mayor sustained the action of the police chief. It appeared at the close of last week that the employing interests were getting the best of the contest. Much fear was manifested, however, that the strike would spread. Many teamowners were occupying what they termed a "neutral" position. That is, they were not requiring their drivers to make deliveries to boycotted concerns. Naturally, the employing interests engaged in the contest resented this attitude on the part of a large body of team-owners, and pressure was brought to bear to compel a change. On Saturday last these team-owners sent a delegation to the teamsters asking that they make deliveries in future wherever sent. The teamsters' district council at a meeting Saturday evening opposed the proposition, and declared that the attempt of the team-owners to force the issue would result in the extension of the strike to The nearly all the union teamsters in the city. In consequence, there was great apprehension that the situation might become worse. The teamsters' council passed resolutions of confidence in President Shea, and practically authorized him to continue to manage the strike as he had been doing. The commission appointed by the Mayor to investigate the strike, consisting of Professor Graham Taylor, T. K. Webster, and W. C. Boyden, suspended its activities indefinitely because of lack of power to compel the attendance of witnesses. employing interests refused to recognize the commission at all, and the labor men declined to appear unless all sessions of the commission should be public. It is unfortunate in some respects that there could not have been a thoroughgoing investigation for the enlightenment of the public, for there seem to be many things back of this contest that do not appear upon the surface, especially the intimation of corruption on the part of labor leaders involved in the controversy. The State arbitration law was amended by the Legislature of Illinois four years ago to give to an arbitration board the power to make inquiries in just such instances, and this body would have the power to compel witnesses to testify. It |