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if the people of the United States could in some way be made to realize that the greatest that has ever been made in real estate, or probably ever will be made, is embodied in proposition to sell a lot in New York City, with all city improvements, for $510-because if situation were actually understood by every person in the country, there would not be single foot of property left twenty-four hours after this knowledge was brought to their attent We are selling lots for about $500 which are intrinsically worth $20,000, if you will into consideration the three elements which go to make up values in New York City out of fashionable districts: distance from the center, transportation facilities, rate of fare. The difference is, the $20,000 lot had transportation to it several years ago, and now is rounded with houses costing from $10,000 to $40,000 apiece, while our land, which has now just secured this improvement in transportation, must wait till the people realize this has been secured, and until the solidly built portions (now so comparatively close to have reached and enveloped us, and actually brought the values where they rightfully belon Illustrations: Lot on corner 146th Street and Third Avenue, New York City, worth in 1881 $1,500, sold in spring of 190 $70,000 to Henry Lewis Morris. His grandfather sold it for $155 in 1853.

Lot on 80th Street, opposite Central Park, sold in 1850 for $500, in 1901 brought a price that showed an increase of $500 60 days from 1850 to 1901. (Authority, Real Estate Editor, New York Sun.)

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Corner of Utica Ave. and Linden Boulevard, Rugby. Showing the high character of our improvements.

This increase will be maintained as surely as New York is destined to grow. As sure equal transportation makes equal values, so surely will this lot be worth as much as the lot upper Manhattan.

We can prove it if you come to New York. We will try to prove it if you will send your name and address. Is it not worth your while? We don't ask anything of you excep letter or a postal. If we were sure you were in good earnest we would far rather say, send your name and we will send you tickets to New York. This you know is obviously imp sible, but if you will let us put the matter before you we will in some way prove that proposition is a sound one, if we have to bring you to New York to do it.

What we want is to have you know that we are honest, and that every statement we ma is incontrovertible truth. Then we are absolutely certain that we can do business to ether. We sell a $510 lot for $10 down and $6 per month. This carries a life insurance guaranteed increase of 25% in one year, a free round-trip to New York (east of Chicago like distance), all improvements, your money back with 6% interest if not found as rep sented. What more can we do? Now, will you send us your name?

WOOD, HARMON & CO., Dept. "D15," 257 Broadway, New Yor

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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, 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.

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Letters should be addressed:

THE OUTLOOK COMPANY

287 Fourth Avenue, New York Copyright, 1903, by The Outlook Company. Entered as second-class matter in the New York Post-Office.

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1903 Washable Dress Goods

Our new lines of Washable Dress Goods for the Spring and Summer are now ready. The collection this season is the largest and finest we have ever shown, and includes:

White Goods

Embroidered Mulls.

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Mercerized Cheviots and Madras.

Plain and Fancy Piques.

Embroidered Linens.

English and French Shirtings.

Fancy Tuckings in Batiste, Swiss, Organdie,

Lawn, and Cambric.

Fancy French and English Dress Cottons.
French Batis, English and French Nain-

sook, French and English Percales, Soft-
Finish Cambrics, Long Cloths, India
Linons, Persian and Victoria Lawns, and
Irish and German Linens for Shirt Waists.

Colored Goods

Embroidered Swiss Muslins.

Plain and Fancy Linen Batiste.

Printed Dimities.

Printed Linen Lawns.

Fancy Colored French Dress Cottons.

Fancy French Silk Shirtings.

Silk Mousselines.

Scotch Cheviot and Madras in many new and

exclusive combinations.

Linen Zephyrs and Etamines.

Printed English and French Percales.
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Plain, Colored, and Fancy Zephyr Ginghams
Plain and Fancy Linen Suitings.
Fancy Linen Duck Suitings.

Fancy Linen Crash for Shirt Waist t

Mail orders for any of these goods have our prompt attention.

James McCutcheon & Co., 14 West 23d St., N. Y.

Vol. 73

The War in Venezuela

Published Weekly

January 31, 1903

It is certainly difficult to apply any other term than war to the events of last weekthe bombardment day after day of Fort San Carlos by three German war-ships, with its active and desperately continued defense, the destruction of a fishing vil lage, and the enforcement of the blockade so closely that twelve fishermen on a little island were, it is reported, cut off from supplies and starved to death. The prestige of Germany, so the German Chancellor declared, required these things, as well as the recalcitrancy of the Venezuelans; but public opinion both in England and America, if one may judge by the comments of the press, does not consider that prestige greatly enhanced by acts of force toward a weak nation, acts certainly not absolutely necessary, even if technically justified, and especially to be regretted because they occurred precisely when the prospects of amicable arbitration were most satisfactory. Even at the beginning of this week it is not certain exactly what took place at Fort San Carlos. This fort guards the entrance to Lake Maracaibo, where one Venezuelan gunboat remained uncaptured. Either with a view to seizing this gunboat or to prevent violations of the blockade, the German small war-ship Panther approached the entrance. German accounts say that she was fired on by the fort; Venezuelan accounts say that the Panther fired the first shot; other reports, which seem inherently rather more probable, say that the fort fired a blank shot as a notification that the Panther should communicate her intentions to the fort before passing; at all events, the Panther opened fire in earnest, was vigorously shelled by the fort, was repulsed, and later returned with two larger ships, the Vineta and Falke, and began a terrible bombardment. The fort was soon battered and nearly

No. 5

destroyed, but only after a very brave defense and a considerable number of fatalities; even as we write it does not appear positively either that the fort is in the hands of the Germans or that the Panther has crossed the bar into the Lake-the other vessels are of too great draught to do so.

The Effect of Hostilities

It was only after some days that Germany made the statement that the attack on the fort was caused by a prior act of hostility on the part of its Venezuelan commander, General Bello, while the Venezuelan Foreign Minister as late as January 25 declared positively that the Panther attacked first and without provocation. Meanwhile Mr. Bowen, our Minister to Venezuela, now acting as Venezuela's agent to procure a settlement with Great Britain, Germany, and Italy, arrived in Washington and at once undertook negotiations looking to a cessation of the blockade, a guarantee of some sort that Venezuela would obey the decision of the Hague Tribunal-possibly through banks or by putting the Venezuelan customs under charge of a commission—and the early reference of the dispute to that international court. The renewal of hostilities had an adverse influence, but the opinion is now expressed at Washington that a settlement of some kind will soon be reached. The English people and press have shown uneasiness at what they do not hesitate to call Germany's unwise, wanton, and brutal conduct, and, in the words of the "St. James's Gazette," express the hope that "the Americans will understand that the German proceedings are as little approved by the British nation as by themselves." It is evident that in such a state of tension as exists in and about Venezuela it is perfectly easy to find an excuse for

using force; it is said with reason that the opposite course, the avoidance of arbitrary measures except under extreme provocation, should be taken by a great Power trying to deal firmly but not roughly with a weak debtor for what seems to be after all a comparatively small money demand. Especially is violence regrettable at a time when the United States has used its good offices to bring about a peaceful settlement, and acts of force, unless absolutely needed, may be inter preted as in a way a slight to this Nation. It does not appear that President Roosevelt has made any remonstrance with Germany; it is certain that he would not do so without an absolutely complete knowledge of the facts; it is equally certain that his influence will be used to its utmost for peace, forbearance, and arbitration.

Legislation

The week in Congress Cuban and Philippine was full of interesting events. To begin with, the Cuban treaty was modified as the Beet-Sugar Association demanded, by incorporating the provision that the duty. on sugar imported from any foreign country should not be lowered during the term of the treaty. This was virtually a pledge that no other reciprocity treaties should be made with sugar-producing countries during the next five years, and that Germany, for example, should not be accorded the commercial privileges of "the most favored nation" if she offered us concessions similar to those offered by Cuba. Our reciprocity treaty with Hawaii. was never regarded as in violation of our treaties with the European Powers guaranteeing them the commercial treatment of the "most favored nation," because no one of them cared to make corresponding reciprocal concessions to us; but the Cuban treaty in its new form makes possible protests from other Powers. This feature of the Cuban treaty, coupled with the fact that it changes tariff schedules without the concurrence of the House of Representatives, has been made the occasion of Democratic hostility to the treaty, and only the refusal of Senator Morgan, of Alabama, and one or two others to act with their party in this matter has prevented the blocking of the treaty by partisan opposition. In the Senate's

modifications of the Philippine Bill the influence of the beet-sugar interests is also apparent. These interests, united with those of the tobacco-growers, have changed the text of the act so that Philippine sugar and tobacco sent to this country must be subjected to fifty per cent. instead of twenty-five per cent. of the rates imposed on foreign sugar and tobacco. When the House of Representatives acted on the Philippine Currency Bill last week, all of the Democrats united with twenty-odd anti-silver Republicans to extend our currency system to the Philippines, instead of following the Insular Committee's plan to give the islands a silver currency to be kept at par with gold by the Philippine Government. The vote in favor of the substitute was 146 to 128. The extraordinary support given by the free-silver party to an apparently anti-silver measure was avowedly based upon the Democratic objection to a colonial system and all attempts to treat the people of the Territories differently from those of the States.

The Anti-Trust Bills

Last week the more aggressive friends of antitrust legislation were somewhat alarmed to find that they were likely to secure an uncontested victory at the present short session of Congress.. Senator Elkins, of West Virginia, the Chairman of the Committee on Inter-State Commerce, has introduced a modified form of Attorney-General Knox's anti trust proposals as an amendment to the bill creating a new Department of Commerce. As the Department of Commerce Bill has already passed both houses (though not in the same form in each house) and is in the hands of a conference committee, any amendments now made to the bill can secure immediate consideration in both houses-for conference reports on bills which have already passed take precedence of all new legislation. The introduction of anti-trust legislation in this manner, therefore, insures prompt action. The feature of the situation which causes alarm to the antitrust radicals is the fact that Senator Elkins has been regarded as a pro-trust radical, and the modified form of Attorney. General Knox's programme which he has accepted is understood to represent the

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