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may finally be cut down when they have reached common woodsman, becomes an expert, since the age of four-score years, but often not before his employment becomes a life occupation. they have attained the age of 150 years, the

After the trees are cut down, they are stripped average forest cycle being 120 years.

of their bark and are then ready to be classified One of the central ideas of forestry is that according to species, size, and grade of lumber. the average yearly cut in an entire forest dis- The pines fall into five classes, the first class trict shall be equal to the average yearly growth. having a length of at least sixty feet, and a This is determined by a forest survey, which is diameter of at least a foot at the smaller end, taken every ten years. During the succeeding while the fifth grade must be at least twentyten years, only the amount added during the five feet in length and 24 inches in diameter. previous period may be removed, one-tenth of The price of the first grade is usually about

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SUCCESSIVE GENERATIONS GROWING SIDE BY SIDE "Every effort is bent upon having a second growth when the veterans are cut down"

this amount being cut each year. This rule $5, and that of the fifth grade $3, per cubic applies not only to the royal forest, but also to yard. Hard wood is, of course, more valuable, the forests of a local community over which the first grade selling as high as $18 per cubic the state has general control. In thus limiting yard. The royal forest of the entire state of the amount of timber removed to the growth Würtemberg approximates a net revenue of during a given period, several points are gained: 31 per cent. based upon forest valuation, while It preserves to the state and community a per in the little community of Baiersbronn the net petual forest; it furnishes constant employ- profit is 5 per cent. annually, portions of the ment to a large and definite number of people; district yielding even 8 per cent. Stated in every phase of forestry becomes a science; and other terms, this particular forest district, every individual, from the chief official to the which consists of 20,000 acres, produces an

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A VIGOROUS GROWTH ON A BARREN, ROCKY SLOPE “Land which in America would be a useless waste, here supports a grove worth thousands of dollars per acre"

annual yield of $10 per acre from the forest coöperation of the forestry schools throughalone, and furnishes constant employment to out the empire. at least 500 men. The granite quarried from I could not help admiring the far-sighted the hillside and used for the highways requires philanthropy of the state, carried on through another army of laborers, while teamsters find these industrious woodsmen, as we paused on constant employment in transporting the logs our return from the forest at a little saw-mill from the forest clearings to the saw-mills where a teamster was unloading giant logs, situated along the swift-running streams in the while Uncle Fritz fittingly concluded his valley.

instructions in my first lesson in forestry; It would be indeed difficult to find a better this completed the forest cycle, as far as the cxample of industrial economy than is here woodsmen were concerned. The trees, planted exhibited. Destructive lumbering is unknown, by one generation, cared for by the next, and and the enemies—such as forest fires, over cut down by a third, were now to be sawed into grazing, and thieves—which play havoc in the lumber and shipped to all parts of the empire, American forest, are carefully guarded against and even to foreign lands. These monarchs by a watchful and efficient body of officials. which have graced the forest for a century may There is system from beginning to end, and that now be used to adoʻn the palace of a prince or system has long since been reduced to a science king, or may shelter the humble peasant among which is being constantly perfected by the his native hills, not far from where they grew.

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III

THE SPINNER OF GOLDEN WEBS

BY

JACOB H. SCHIFF

WM. ROCKEFELLER

C. M. KEYS

He was

I

a broker, and a broker is almost by nature had saved the Burlington and the Northern a gambler, perhaps the very last profession suitable Pacific. for a railway manager. In character, he was strongly

If this was a mighty web, think of the web marked by his disposition for silent intrigue. He pre

that he spins to-day! Far down to the Gulf, ferred, as a rule, to operate on his own account, without

threading the Mississippi Valley, lie the thick admitting other persons into his confidence, and he

meshes. Within their folds struggles the Illiseemed never to be satisfied except when deceiving every one as to his intentions. There was a reminiscence

nois Central, great, powerful, rich. And all of the spider in his nature. He spun huge webs in its greatness, power, riches, serve but to make corners and in the dark."

the hunter keener, and avail not one iota for

defense against the spinner of the web. Yet N THESE words, briefly, Charles Francis other arms stretch out to grasp the gates of

Adams wrote, in 1870, his impression New York, the harbors of Philadelphia and

of the man who was to be the president Norfolk. The coils lie entwined about the and manager of the Union Pacific, Jay Gould. Baltimore & Ohio, the Delaware & Hudson, At this moment, they apply with full force to the the Reading, the Norfolk & Western, the St. present master of the Union Pacific, Mr. Paul, the New York Central, the Santa Fé, Edward H. Harriman.

the Pennsylvania Railroad. How long will There is this difference: Most of the webs it be before they tighten? that he has woven are no longer in the corners. This is the web that Harriman has spun They stretch far out across the open. They openly and in the sight of all men. Yet are so strong and great that neither men, nor others lie in the dark corners. Down in Wall states, nor banded powers have as yet been able Street he has made a gossamer trap unlike any to destroy them.

other that has ever been known, even in that Less than nine years ago, the master-spinner strange canyon where men are supposed to began to weave a web of railroad power. In know all the financial tricks of all the ages. In the sweep of the first few concentric rings lay other days, when men would rear great structhe old Union Pacific-not so very glorious a tures, they bought banks, gathered in trust prey. On it the spinner fattened and grew companies, made affiliations with rich private strong, to spin yet other circles. A little labor, bankers. But Harriman has spun a web all and lo! within the still narrow sweep of the of his own designing. He has a bank that web lay the Oregon System, the Chicago & knows no banking law. No bank inspector Alton, the Kansas City Southern. The corner can call upon it for a statement as to its busgrew cramped. The great mechanic stretched iness. No "call for condition" can force it to far out across the continent, and fastened upon reveal its doings as of any certain date. It has San Francisco a single arm of the woof of the no troublesome reserve regulation. The last web. The circles grew greater. By the end time it made a full report it showed that it had of 1905, they held the whole of the Union loaned money in Wall Street and elsewhere to Pacific and the Southern Pacific, the Oregon the extent of $35,000,000. At the present lines, the San Pedro, safe against assault from

safe against assault from time, it is supposed to have in its possession without or struggle from within. The first few funds and stocks that can be used as collateral filmy threads had wound about the Santa Fé. amounting to well over $150,000,000. Only the mighty hands of Hill and Morgan The examination before the Interstate Com

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time nor in what manner it may sell them
again. The president-chairman, Mr. Harri-
man, has powers absolutely autocratic on this
point. He may pledge the credit of the com-

pany at whatever time he pleases for the raising
LE

of money. Never before has so gigantic a
machine lain in the hands of a single man in
Wall Street.

Once more it is the Union Pacific Railroad. About its bursting treasury cluster still other treasuries, the Wells Fargo Express Company and bank, the treasury of the Illinois Central, of the Southern Pacific, and of other corporations it were better not to name. The strands of this web are strands of gold, woven upon a woof of credit—the strangest and the most marvelous credit in the corporation world of the United States. The circle of the web lies around about the whole financial world. Men tremble when they contemplate the results that would followin Wall Street were the president of the Union

Pacific to decide to call all the loans on one
HARRIMAN ON THE STAND

particular day. In the hands of the spinner of From a flashlight photograph taken during the Insurance investigation

this web lies the power to create panic, to

bring upon Wall Street the tempest of merce Commission revealed the fact that in the destruction. autumn of 1906 this company had put much of

Still darker lies a smaller web, yet equally its cash into stocks. No man may say at what as dangerous. One arm of it lies coiled about

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THE MISSES HARRIMAN
The two oldest daughters, Cornelia and Mary, are very popular in their own set.

The youngest, Carol, is still in school

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MR. STUYVESANT FISH The friend of Mr. Harriman's earlier years, who was deposed from the presidency of the Illinois Central

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