Newspapers / The Charlotte Observer (Charlotte, … / Oct. 25, 1907, edition 1 / Page 1
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CHARLOTTE, N. C, FIUDAY. MORNING, OCTOBER 25, 1C07. T ; " ' . -' TT'" t :i2I3 13 SAFELY PASSED jhgan Avi3 Tim inxciLVXci X rbrme T ly the Great Financier Comes to Uie Rescue V. hen the Out iX is on the Ver-e of Demoralization end Empties ? j.(JUi),0 J at Normal Hates of Interest The : Market Quickly Recovers and Brokers Cheer Morgan to the Echo Not withstanding Better Feeling Three Small Banks Suspend Payment amount of Money Necessary to i. i aather the Financial Storm: As- ;ncs Colossal Proportions. ; - iNew York, Oct 24.- t a t result 1 of to-nSay's developments In the nnan- cial world there la every Indication that the cris? in: ithe hanking ?and i arust company actuation Was been wife " Jy passed. ' The, ,' Trust !, Company. -Jot ' America aU through the day's bank ing Hours paid but nwraey to deposl . tors as rapidly as possible and closed . the day" with fall:: demands; having ," teen, met ;A very, favorable' feature ' ' tMttMlbii;'llpeodw;.tlilf panywas that It (was able to make its payments with very - little ; assistance and another , was that the company ) .received over its co-urntter In the morn ing -hours in ordinary deposits more thaBtl000,ttOO,;.TbosMrai'l im 7 presalbn in financial circles that this " company having withstood a two days; , run with so little trouble was undoubt edly In good condition to continue its ' business and in fact thatt company and Its affairs were wot considered a a ' factor any longer in the general eitua i tton. As the Trust Company of Awer t lea had been the centre of the recent financial storm it was accepted that the ability it had thus shown to weather " the storm was a clear indication that ' ' the financial sky had cleared and that a period of if air weather was now. well .14 sight : THREE NOTABLE.. EPISODES, ' i2.The day was marked by three note ' worthy episodes. ,. First and earliest ' In the day came the announcement of troiible in three minor State banks tn 1 Harlem, the Hamilton Bank, the " Tweflfth Ward Bank; and the Empire ' City -savings ' Bank. ivThesa banks transacted only a neighborhood busi ' nesend their suspension Of payment was i absolutely ; wittvouft . algnitcance bearing on the genera situation. ? State Bank Examiner Judson, how . vw declared this afternoon that all three were solvent and the their de , ppHlitors would lose nothing." . v' v The second episode was a run In augurated against the Lincoln Trust Company. The run against this com pany was steady throughout the day 1 bu,t th sums withdrawn : were not v' (large. At the caose of the day the - company's, officials announced : that . they were, fully able to meet all obll- garaons.'- , - '- ' ; MORGAN'S HELPING HAND. " v W far che most notable.' even dra- t tnatlc episode of the dy was " the - wmiptry-ing of l. mUllon of mbney, ' Into the stock exchange through a pool headed by-4. P. Morgan and. other financiers la order to averj.u ruthless, -selling out of, stocks held by brokers whiotrwas threatened because of their Inability to obtain renewels of loans . on which these stocks had been car ' rled.' " A l remarkable condition , brought about this extreme stringency - In money which , had gradually forced the interest rate up to an almost un precedented; figure. Certain ..large in- . ' iteresta of great flnaindal resources had been charging recently Vhat was in 'effect, not JegaMy usurtous rates of interest on call loans, v One institution that had been engaged in this, pracr ti'ce was stseaf a member f the clear ing house and was severely crlltlcteefl . by other bankers for its action oil the ground that thjs added an unnecessary complication and strain to the money Bl(iuatlon-i An a result of dJlcriUcism v"ths institution withdrew its support and declined to offer money on call on -' the stock exchange.. The effect of this i was to run the rate for money toiday up to 10. per cent, and when tihat figure was quoted an extremely sharp . decline resulted in the stock market, ' Unions Pacific, a 10 r per cent. stock eelHng down to par. , ' ' , NORMAL BATES ASKED. " NotwlthsUndinig the high ! ate for call money that might have been ob tained the National City . Bank. John - Z. Rockefeller personaHy and other Sromlnent mauled interests sent funds y the stock exchange to be lent , at . the normal rates of, percent. ' These sums, however were not sufficient to ' meet the demand and fof a time there was great confusion and hurried Bell ying of stocks on the exchange. At ; the time that excitement was alt its height the announcement was made ( that a pool had been lormed-wtth J. P. Morgan at Hs head, to came tothe 1 ' rescue of the brokera for .whom it was necessary to provide funds at once in ' order that they might carry the stocks ' - they-were holding for their" cuwtom? era The Morgan, pool brought a sum 1 of money . amounting to about, 125, , 000,000 to the Aoan corner of the ex- ! change -where it was. Quickly distribute d in such lots as wonjM 'be most , effective in rendering support The effect of this relief measure was Instantaneous and the rate ; on call money dropped from . 100 per cent to . 10 ,. per ."cent ;' . Stocks ad vanced ' more rapidly than j they hafl. declined and tt was only a Jew minutes until .Union pacific, the market leader, was selling, at 105. Other - stocks . were similarly .affected "s and the rally was complete. . i A MEMORABLE SCENE.' . Sf Mom, if ever, had the veterans of finance seen a great situation saved so quickly and so effectively by such a Napoleonic stroke. When the - stock exchange closed every one was getting all the money he wanted. The clpse was marked by a memorable scene In which the brokers gathered around - the principal trading posts and gave -, three cheers for J. Plerpont Morgan , and the members of the pooi which . -iae aggregate amount tf . money , had been, contributed in order tfC1 feather the storm ."and restore confidence , assumes truly colossal proportions. Roughly estimated it in cludes ; $25,000,000 -whkrh Secretary Oortejyou deposited in the Niew York tanks, 128,000.000 which the Morgan pool brought to the-flow, Ill.OOO.OOQ rtitch John D. Rockefeller deposited wltlv the Union Trust as a means of '' stemming the tide at Ithe Trust Com pany of America and finally another 150,000,000, whkh It is understood Mr. ; Rockefeller stood ready to advance td .meet any further stress of conditions In all considerably in : excess of $100,000,000. Hie ritEshEYr infoiuied. I'ndprstood to Regard the Crisis as . Over Approves Cortelyou'a Course : Wrprern IJatiUM invorre 17cm ppixr lom Willi Street ' VashlnBton, Oct.' , 24. PrfPTJer.t r.ooscvelt was to-day thoroughly . In formed resardins iV.n fl.ianclal stress in Wall Street-and rittisburg, and is understood to rt.ird the crisis as over, and also to a;: prove of the meas ures of relief whiCii Secretary Cortel you afforJed both cities. ' Both Senator Knox and Assistant Secretary of the Treasury Ed wards re ceived direct information" from Pitts burg by telephone to-day which was of most reassuring- character. Senator Knox told the President that all ap prehension In that quarter was dis pelled. Secretary Garfield, who, on his recent extended western trip made financial conditions a special subject of -inquiry, reviewed the .situation with the PreslJant atsorae length. What the Secretary found in the West was also encouraging. , He reported to the President that Western bankers have gradually- been dlvorcjng them selves from Wan Street Influences un til they are now practically Independ ent o'f them, at least to the extent of not being embarrassed because of a slump in the 'securities dealt in on the New York stock exchange. Their loans are largely secured by Western real estate and other local securities, and those, which are based on-Eastern' securities have largely been re-adjust-ed during the past year,, on the lower value of the securitles; The" President when asked If he would make any statement on : the situation, indicated that . comment from him, was unnefiessary.' BIG STEEL CONCERN INVOLVED. An ' Involuntary ' ' Petition In I Bank- ruptcy Filed Against the Southern ;f Steel Company, ; of v Birmingham, ." Alabama Auxiliary. Plants fight- ; ness . of ihe , Money Market the i- Cause of the Company Embark jsrassment, ',-. . ' " ':.:H: :i Birmingham - Ala., Oct 14. An Involuntary, petition In v4ankruptcy was filed In. the Federal court this afternoon- against the Southern - Steel Company, capitalized at - $25,000,000. The creditors-1 seeking ;i th v bank ruptcy :. order ire- the . Birmingham Coal ft-vjron - Company; the Sayre Mining A Manufacturing . Company, and the Cahaba Coal Company.- The Southern Steel Company owns- a big steel phnt at Gadsden, steel rod, wire and . nail mills at Ensley, coal mines at Altoona and Virginia City, and ore mines - throughout the ' Birmingham district as well as coke ovens and other properties. . , ' "Moses Taylor, of. 5 New -Tork, is president and E. T. - Schuler, of Birmingham,' general manager, r v " The petition alleges that the com pany committed an ct of bankrupt cy In acknowledging in writing its in ability to pay its debts. It Is also averred in the, petition that-the de fepdant company has been Insolvent for- six months. The petition asks that it he, adjudged a bandrupt and that receivers, be appointed.. Attorneys for the petitioning credit Ators have gone to Huntsville, where is ' holding court.- to secure an order naming the receivers, t , '. V, .," The filing ' of the petition was,' no surprise in 'the. financial and ' indus trial circles here. . Some iuch action nas t been.1 expected for some time, SkKlt-was rumored' arMe aSTy tho terday that the company 'was about to reorganize.' L - - Vice' "President Schuwr said this afternoon that Jila company Is ''abun dantly solvent and if the creditors are patient and will co-operate with us all debts -of ,the company, will be paid and . the company put 'back on its feet." - . , Mr. Schuler said also that the op eration of the plants will go o un interruptedly. ; . He attributed the financial embarrassment of his com pany to the tight money market In the, East" and other causes. 1 "Long of Assets and Short of Cash." New York, Oct 24. The Southern Steel Company, against' which an in voluntary -petition in bankruptcy was filed to-day at. Birmingham, Ala., was 'long on assets and short on cash," ac cording to one of the . directors in this city. He said that owing to the present condition of the money mar ket the company waJ unable to secure funds with, which to jneet its bills and accounts, and the present action was taken to secure the creditors, - , Of the $26,000,000 capital stock of the company $10,000,000 l preferred and $15,000,000 common. E. T. Cchuler and Evans F. Jones, both of Birmingham, 'are the first and second vice presidents Of the company, re spectively. , S'Mt-"' s'V--,v'i..j-?..y-: FISHERIES COMPANY FAILS. , Big Plant Operated In Brunswick Countv Placed In Hands of Receiver -It Liabilities $56,000 With Assets of JVot . More Than ; Halt That Amount. - . ; , Special to The Observer.,- - - , ? Wilmington, - Oct."' 24.-The Cape Fear 'Fisheries Company operating a rendering plant at 01d Brunswick, IS miles belew Wilmington, in Bruns wick county was to-day placed In the hands of a receiver upon petition of stockholders to Judge C, C. 'Lyon, of Superior . Court the corporation being domesticated In this State but being composed largely of Northern people. The - liabilities are. $56,000.. with tangible assets not more than half that amount On this amount $40, 000 are due the Fisheries Company, of -Philadelphia, which .failed last week and carried the, North Carolina branch of the business with it The receivers appointed are R. W. Davis,, of Bouth port, and O.. JDelaney,, of Philadelphia, . " , , t ? The fleet of steamers now In' these waters' belong to the" parent .concern in Philadelphia and are-counted along with, the assets of that firm. Between 200 and, 250 men are employed? on the steamers and at the, factory, but It ; is thought ,, arrangements will , be made for- the ; receivers to continue the business, for the present at least Fisheries Uompany Goes to the Wall, : Philadelphia,? Vi OctS: 2 4. Local banking and business circles receiv ed a sunprise to-day when it became known that -the Fisheries Company, a corporation which is the principal factor in the ? Menhadln fishing in dustry with offices In . this city, has bn deciared insolvent and tempar- ary receivers appointea, '. " Fire Follows Explosion. ... Chattanooga, Tenh., Oct.24.- Four workmen were Injured by burns and two or three are reported missing as a result of an explosion followed by fire in the plant of the Chattanooga Gas Company shortly before S o'clock. The fire was soon under control. The explosion is said to nave been caused by the dropping of a lighted match over an open Jet. of a tank In the purifying department The Injured are: . ' ' ; B. At Broder, Dan Ilemmill and Henry Hcruu.;it, and" an unknown necro. making "galloy plays" ATTORNEY GENEJl.L IITT HARn. ... ' Before Civic Federation's Trust Con ference Former Comptroller of the Currency Makes a Sharp Attack Upon the Department of Justice and the Attorney General, Enter ing Upon a Defense of Oie Finan ciers of New York -Remarks Crea;e a Sansatton Sir. - D. A. Tompkins Discusses the Relations Between v th Railroads , and the PeopleOther Prominent Men on Vital Topics, a ' .v- - Chicago, Oct $4.- Delegates the National Civic"' Federation- conven tion to-day were eagerly discussing remarks made at the meeting of last night by Charles O. Dawes, ex-Comp-troljer of the Currency.- c , , . ' Mr. Dawes made a sharp - attack upon the Federal . Department ol Justice,- virtually charging the office of the Attorney General with making "gallery plays." - He said in part: "1 cannot say that it is 'intentional on the part of the Department r of Justice, but some of Us actions look remarkably as if favoritism was -being displayed in the selection of the combinations to be investigated and in the manner of attack. It lsUnT evltable that . thav man who. does things is In the public eye and an at tack upon him wilt always win pub licity. It ' is remarkable that the cases handled by the Department of JuatrtA'alwavs are tried, in the news-, papers efore they- get into the CRITICIZES "MAGAZINE WRITERS The : epeaker also ; criticised the magazine writers who he said made a practice of attacking the men who accomplished great ' things in S the mercantile and financial -world, j i J. He then entered upon a defense of the financiers of New York, asserting that many pf -the men who have borne the- lash" during the last four years are doing a work f or the food of the country, the value of which is hard to estimate.')' ' e ' i "They are seeking," toe said, t rto uphold their credit , upon which pros perity rests. They, are seeking to save the opportunity for the Profit able continuance of men who handle merchandise, of men la manufactur ing enterprises, and In all other walks oiaifs." " " a In conclusion." Mr. Dawes urged the amendment of the v Sherman - anti trust law. ... . The first address delivered to-day was that of Herbert Knox Smith, of the Federal Bureau of CorporaUons. Mr. Smith was followed by Mr. D. t Tnmnifinn: of 'Chariouei . y. Mr nvwnnkins' SUbleCt- W8S. "The Railways and the People," and he spoke as folicws: . . MR TOMPKINS ADDRESS. : ...i MAM n When we find, tnai a of Inter-state commerce i "--brought into such confusion and iflis order by mulUtudlnous State legisla tion, and when, we find also tJin-ter-State commerce on land has grown to be entirely beycm the control ot -w- e.n... it i pr imoortant r"?l . Jlt.ta. brlns it -under rl, in a condition of uniform treatment xnrougnou ww At present wa nnv.n.in tnflnAticna.to make con .fnBif,- and . dissatisfaction: On- or these Is drastic SUt,e legislation in ftiimirated in many Instances by dem- aa-ogle:.ipolitlcians,:;d:.biit-;.Uirgely:.sup-. ported by good State officers and many good people,' because of evils of all way organization and management On the other side, the railway companies themselves ' are indulging many evil practices, such as discrimination, spec ulation, jthe issuing of vitiated secu rities; and, as the tendency on the one side is to make legislation more drastic, so the tendency seems to be be on tlte other side to. hold with increasing dogged tenacity to a situa tion which gives; opportunity for the evil nracHees. asralnst which the peo ple are so exasperated, and Justly ex asperated... It u plain mat ine escape from both -of these unsatisfactory sit uations lies in some course leading to the abolishment of both.1 Jilt la as Important now to escape the confu sion' and "Injury of further drastic legislation, as it Is to escape the rail way evils.o It' la equally as Impor tant to escape the railway evils as to escape drastic legislation. The mid dle course by which we escape boft of these evils at once Is the tame as that adopted by our forefathers to Mcnnn th evils of multitudinous State letrlslatlon- about 1 the tariff. T ' i It is the same which brought a good bank ing system and a uniformly safe cur rency but of the former confused con dition of money issued by State banks under the multitudinous and various State laws 5?' -State's rights are not in the slightest degree Infringed, if a subject Is relegated to the general government, which is wholly" beyond the control of States. The constitu tion has wisely relegated to the con trol of general ; government' ,, things which are national In their character, and concerning which legislation by many States leads to confusion, rath er, than order. Federal control, ex amination, and -publicity rwould. rin my opinion, have the same effect upon the railways that It has had upon the national banks. By this means It would not only be that the operations of the roads would be regulated, and the condition of railway finances made public. ' Thus Investment In a railway securities would be ? brought within the Teach Of people, and the present complaint on the part of railway man agement about the difficulty; of get ting f money for' necessary extension and Improvements would all be gone. The people along the . lines of the roads would buy their securities, as the people In each - locality now buy national banX stock.1' A large volume of national bank stock pf the United States is now held t by widows and orphans, by sanction of, the courts. What court, would in,, the, present sit uation.' permit the-money of" widows and .orphans to be invested In railway securities, or to remain Invested, even where the' deceased husband and fath er had already bought them - " CONSTITUTIONAL RIGHTS. ' The question of constltutfonal right for such government -Control, regula tion, and publicity are amply provid ed In the constitution, and on two dif ferent counts. The constitution pro vides for the control ''by-the 'Federal government , of Inter-State foreign commerce. ' - This is ample authority alone, but the constitution also pro vides for the control by the Federal government of the mail service and post roads. We are prone to forget in a degree, that every railroad , is a post road, and that It carries , the malls. The railway people - them, selves sometimes remember - this In case of strikes, but they don't remem ber it when It comes to obeying the !"nral-laws relatlnar to discrimina tion, rebates,, comtl.iitlfnv and t'1 Issuance Of watered aecurlties. -It Is Idle to complain of drastic State legis lation," until some remedy has been found for the railway evils. It Is self-evident that no Stato legislation can accomplish a remedy for railway evils, except by harassment, and tnls harassment is very dangerous to com merce. Jt Is idle to-talk about the railways reforming themselves. They will never , do it until , forced. . The controversy has come to be one of an evil on one side and against an evil on the other side. ; - - The roads complain about drastic State legislation, while the, people of every State are complaining of railway evils, and bitterly, resenting the.. Idea that railway , Investments have been put by speculation and fraud wholly Deyond the reach, of the poople them selves. " t If these railway evils exist ed in one State only, the State might well undertake Its remedy. . The best legislation any State could make would be to request the Federal government to immediately inaugurate a .system of control, regulation and publicity for an me railways or the country upon precisely the same lines that the gen eral; government now controls, regu lates, and makes public tho affairs of the national banks.. So far from State rights being Infringed, any State would be exercising one of its highest rights to appeal to the .Federal government io remedy an evil witi which the St y itself lg unable ;to cope, and precisely as the State would appeal to the-. Federal government , In case war was declared against it ' ? 5 . The usurptiOn byJthe general gov ernment of the control within a State of anything which ?the SUte could handle ; by itself would . be an in fringement of the State's rlhtsT The reference by a State of a "matter be- yona its control-to the control of the general government ; Is one of the highest and most important of the rights of the States which are in the American Union, and while none could be more 'opposed than' I to the sur render of any State's "rights, none could appreciate .more than I the right of a State to call the general gov ernment to Its aid to help it in con nection ,, with a - matter that- was be yond its power to handle and control. William J. Schieffelln, ! - of New York, also spoke. :r r& :- t-'-',' ' Thomas C, Spelling spoke on i the Trust Question." t--y r?- j ; Prof. J. H. Gere, of George Wash ington ; University, delivered an 1 ad dress upon "The Relations of In dustrial Combinations to Export Trade." ' :; - :v.,-: , D. C. Seitz, of New York, was oft the programme for an address upon "The Adjustment of Labor Problems and tUe Policy of Incorporations of Unions but a Mr. Beltz was unable to be, present his paper was read. - .The last formal address of the morning session of the conference was that pf Herman Rldder, of New York. - ( Informal discussion of the various views brouRht out during the - con ference followed, To-morrow, busi ness men will be given an opportuni ty of -making Impromptu addresses upon pertinent questions. - f ' At an afternoon session "Prof. F. W. Taussig. -of Harvard University dis cussed the policy pt !ths "Federal gov7 ernmeni. towara corporations, , There was.no'nlght session., . FOUND " GUILTY OF PERJURY., New York Jury Itccommends Mercy In the Case of Dr. Walter Gillette. I: Former Vice President - of the , Mutual life Insurance Company. New York, t Oct.':, 2 4,-i-The Jury In the case of Dr. Walter Gillette, for mer - vice president: of the ' Mutual Life Insurance Company, . who was charged with perjury.i to-night re turned a verdict of guilty. The ver dict was accompanied with a recom mendation for mercy. Dr. Gillette was remanded until ' Monday for sentence, -v t - "The Jury was out one hour and 25 t minutes. In the n interval Dr. Gillette chatted - with his son and daughter, a If he was at all nervous he did not betray his state of mind. When called to, face the Jury, how ever he paled perceptibly, the pallor giving way to a flush as . he heard the verdict For a moment he ap peared surprised, h but promptly re covered himself. -He mas accom panied by the son and daughter to the- entrance to tho Tombs, i-v Dr. Gillette is 6? years of age and is well known In medicine, from the practice of which he retired some years 'ago, He was .born In Phlla-delphli;'-:--"-i;'-is---: - ' ..-v ' The specific charge upon which Dr. Gillette was found guilty was that he had testified falsely before the grand Jury on May 24th, at Iwhlch time he -was Vice president of the Mutual, i The Indictment alteged that at that time, under examination Ky - District Attorney Jerome, he stated f that certain moneys in the Dobtm Ferry Bank were his personal funds, and that subsequently under a . cross-examination ? he had d mlUed that these funds were really the property of. the Mutual Life,, ' roil IXLANP WATOltWAY. ConvenUonT to Be Held In PhUadel- i phia In November to Boost Water ; way Froni Capo Cod to Beaufort, X Philadelphia, Pa, Oct. 24. At ? a meeting held In the office of Mayor Reiburn, to-day, fund was subscrib ed to defray the expenses of a con vention to be held In this city Novem ber 19th ad 20th, in the Interest of a proposed Inland; waterway from Cape C6d to Beaufort, N. C At the meeting final arrangements . were completed fn, tin MnvtntlAn It Which It MS tX- pected representatives will: be present from all the Atlantic coast States. ? At the meeting to-day the jlan of the waterway was ouumea vj v-on-gressman. J. Hampton Moors, of this 0lty.-;-:;a; V, ' ' - k "v-; The meeting was attends by rep resentatives r of - trade organizations from Trenton and Camden. N. J- Wil mington, Pel.. and . other places. Among those present were Congress man Burton.vof ' Delaware: Bingham, Moon and Foulkrod, of Philadelphia, and Frank L. Lanne, of the, National Board of, Trade. ,- -ht. hjM . Obstrcperoiw Trine pf Vie Again on i-;-,. the Wsrpathi vv: s.i : .:: r- -i KrMWngton,?.Oct": 14.WTh0 tribe of Ute Indians, which more tnan a yar ago wandered away from' their reser vation in Utah and created ' trouble in Colorado and Wyoming by threat ening to take the war1 path and raid ranches, to reported to have azaln hrnictn out on the Cheyenne river reservation In South Dakota, where the tribe. was given temporary quar ters. At tho request of the Secre tary of the Interior the . War Depart ment to-day ordered troops from Fort Mf-adei S. D., to the scene of the trouble. ... ..The character, of the out break is not known bvtal HIE KEGH'O IS CONVICTED ' - ' , "V . GUILTY OF ARSON AND MURDEH. Detectives "Work -Up Case .''Against John McMillan, AY no Was Suspect, ed of a Double Crliu?', With the Ite eult That tho Jury at Clio, S. C Finds Him Guilty Both Women .Who Were Wronged by a Bigamist ASk "or Ills Pardon -Wife No, l j Now Lives at 3Ionroe Columbians ; Jubilant Over: the; Fact That Main - Street Is ac Last to Bo Pad , Superlntcndsiit Will Advise Agaiust Compulsory School Law. - : , f Observer ' Bureau, ' ; 1422 Main Street :, Columbia, S. C, Oct 24. A telegram to the Governor' from Mr. Brooks Hamer at, Clio to-day af fords the Information that-John Mc Millan, a negro, has been convicted of arson and murder lit connection with the " burning - of : Mr. , Hamer's livery stable there a few months ago. when the charred remajns of a negro stableman and a" negro; girl .were found . In ' the . debria Both. men were ? employed at the stable, y and they ,. hadt quarrels about this ' girl The Sunday night of the 'fire McMil lan was oft duty, but a short time be fore the fire .was discovered he was seen in the - neighborhood of 1 the building. Whether the man and girl were murdered before the - - building was fired cannot be nald, for the rea son that not enough of the remains of either was left to teU this. Several prominent people of Clio have: believed that a certain white man prompted thti negro to v the crime,, but the work of the several detectives the , Governor has -had t work on the case does not.aeem to support this theory. An Atlanta de tective was successful in the case, after several others had failed - - WANTS. "BIGAMIST, PARDONED, ) & -The 'pardon petition filed with the Governor to-day In behalf of a young cotton mill man given three years for bigamy la endorsed by both women he wronged and by the relatives of wife No. 2,vy J. L. Fresslaw is the name of the petitioner. He was con victed' at .Anderson, where he lived with wife ; No. 2, but his first wife lives at Monroe. N. C. Relatives and -ethers have signed the petition on the promise of Fresslaw to return to his first : wife and live properly, but 4 tt looks like a' good, safe bet that the Govenor v will - refuse the pardon; 'The man is young and Inexperi enced and belongs to that class of people who move from place to place, working in cotton mills, and did not seem at the time of his trial to have more than very i ordinary Intelli gence," says the petition written by his lawyers, whose picture of Press law is typical of an Increasing class In this State. Year after year the Legislature refuses to pass a marri age license law to orotect the State from' thla growing evil. I Every, effort to throw any safeguard about marrl age is blocked by an appeal to the .aptl-dlvorce superstition - thatii pre vails - throughout - the n- State. ? How safeguarding marriage Is a step to ward divorce '"It ; Is ; difficult 4 to: figure out, but this Is the way the thing is argued with unerring success .la the Legislature. . t-1 . 5 -::(':""F'-:" , Governor Ansel I to-day refuses to pardon Charles Hampton - Phillips, ' a white man convicted along with a ne gro for stealing a cow." '"'-; WILL HAVE BETTER STREET8., -Columbia' Is at last to get - some creditable streets, which , ' announce ment will be hailed with Joy not only by l Columbiana but by hundreds : of visitors to the capital city who have been made to blush for the disreput able conditions of the streets here for the -. past several years. The . newly organized . street, commission to-day called for bids for the paving of Main street from the Union station to Elm wood avenue. The prospective con tractors are asked to bid on vitrified brick, asphalt t wood-blocks and bitu lithio paving,: the . commission to choose - between these four methods later. : The commission will spend between $200,000 and $260,000 on this, street alone, about $50,000 of which will be put up by the street car company . for the paving between its tracka yx'? In bis annual report to the Legis lature state Superintendent of Edu cation Martin will give an Interesting digest of forty-five ; replies , from school : : superintendents of .other States to nine questions he propound ed to them on the subject of compul sory education. , Superintendent Mar tin Is himself opposed to compulsory education lri this State, principally on the ground that It would cost too much , to enforce such a law 5 under present - conditions and thit condi tions in this State do not demand such a law. , The usual annual fight over a i compulsory education law, which the: Legislature' has for several years been refusing to, pass, will take place next spring. , , Ii order to get Information upon thajsubject of compulsory attendance a letter was sent to all of the super Intendents of Statos and Territories In tha; United States, nine questions being asked. After - giving the sub stance of all the replies Superinten dent Martin: says . $.&b "t:':? C0MPUL8ORT LAW NOT? THE . a;;t proper rama-sAH;;?: "After making this Investigation t find that I reach the same conclusion which I reached last year. - We need to systematise our school organization more than we need a compulsory at tendance law. In factfcl do not see how It is possible, to enact and to en force an effective compulsory attend ancer Jaw until' our school organiza tion Is strengthened. If I had . my choice between a bill to improve our system of supervision and . compul sory , attendance bill, I should not hesitate to vote for tho supervision bill. - We need, lo raise our standard ; of qwallflcation for 5 teaohera v 1 be-j lieve that i this will have, to be done before ft compulsory atteadance law , will ' be -r effective. I really beltnve that ! a compulsory attendance law will do more harm than good In the , present condition of our school sys-j tem."..:,C'-:' Committees Agree nn 1155,009 'For Water-Works. Special to The Observer. Wilmington, Oct 24- The special committees-from the board of alder men and the Clarendon Water-works Company have agreed upon 1155,000 as the price the municipality will pay for the existing water-works plant here to be enlarged and extended as municipal property. C" It U expected that the sgrcement between the com mlttteea will be ratified at a meeting of the board of aldermen railed for ( this purr "-a to-morrow n!:'ht. CASE GROWS SENSATIONAL.' Much Interest Being Shown In German Newspaper Libel Suit Emperor William May Be Called to Tttify Public Excluded From- Ileariugs. Berlin, Oct. 24. The hearing of the, wise, of Count Kuno von Moltke, former military j, Governor of Ber lin, against Maximilien Harden, edi tor of Die Zukunft,- for defamation of character; is" growing more and mora sensational every day. ' -i In the course of to-day's proceed ing Dr. von ; Gordon, counsel for the plaintiff, declared . that he would eventually ask for the testimony of Emperor William to prove that Count ven Moltke never had: used , his' of ficial position to promote , political nda. Herr Bernstein, counsel for Harden, agreed to this proposaL' Herr Bernstein then charged . that the court clique,, of which von Moltke was a member, was guilty of infamous secret crimes. ,If ,von Moltke is innocent , he said, no one tlse Is, and this twould seem In credible. -ii;,.;-:t;:;i, i- r&. vi,: Harden proposes to call the head of - the ; police department .s dealing with this aspect of public smorala to testify ,a, to what he knows . regard ing Prince Philip Zu Eulenburg, the ex-German 'ambassador' te Vienna, and Lieutenant General Count Wil liam von Hohenau, one of the Em peror's adjutants, who, together with von Moltke, have been mentioned by Harden as members of. the so called camarilla, or round table." ff . Harden has said that he would call as a" witness Paul Llman, the author of a life of Emperor William, who will testify "that the late Prince von Bismarck Once expressed 'him self concerning1 the Immoral excesses of Prince ' Zu Eulenburg .In . the strongest; terms Imaginable, Harden will also call Prince von Buelow, the Imperial Chancellor, and Field '." Mar shal Count von Hulsen-Haeseler, chief of the Emperor's military cabi net. -- . - -. .', - ' . fi The bench ; has decided to admit the testimony to prove the allega tion that unnatural practices , pre vailed among the frrends.of . von Moltke. , . The public will be , ex eluded from the hearings, but repre sentatives of the press will . be ,. $.U lowed to remain. 1 .' An army officer who had served In the Guard Du Corps at Potsdam was called as a witness, and testified to having taken part in unnatural orgies at the house of Count Lynar, which had resulted in the dismissal from the service in disgrace of the Count and Lieutenant General von Hohenau. The witness said he heard that yon Moltke was present at this occasion, but he thought that Zu Eulenburg certainly was there. The court has decided to reject Zu ' Eulenburg s medical certificate, submitted yester-r day, Baying ho was too 111 to attend the hearing, and he has been sum moned to . appear to-morrows The day was occupied' largely In taking testimony .which Is not fit for publi cation. , UNCLE SAM'S MEN VERY ACTIVE. The Presence or.a Big Bunch Around Durham Said to Be to Secure Lvl. dence lir Prosecution of American 'Tobacco Company. ' Special to The Observer. Durham. Oct 24,The revenue agents and United States secret , ser vice men are extremely acttvo In this section for some reason or other. It is said by many that the government has sent a- large force of men into this section getting facta on which to prosecute aults that have been brought against the American Tobacco Company. It Is said that the agents for the government are - seeking out the number and sizes of shipments of tobacco that are being made from this, city by the trust and that this will later be used as- evidence. Just what it all means Is not known here as yet but it is clear to-night that the government has an extra large force of men -here and thoroughout this section. One report Is that there are seven men located at Danville, to re main there until ordered off duty, It is known that within, the last Jay or so revenue men have been active about' Oxford and other points near here. : Even In Durham, so It Is said by some,, the agents for , the govern ment have been walking about getting facts but, asking no questions. ' fTOOK MANY ARTICLES An Aahevllle Saleswoman, af' Good Reputation, Accused of Having Done . fchon-Llftlng - on ft large s Scale Will Not Be Prosecuted. -Special to The Observer. - f ' . Asheville, Oct. 24.A deplorable case of shop-lifting has been un earthed here. ; The alleged guilty person is a young woman who came to Asheville last June and found em ployment In a large outfitting estab lishment of the eity. Recently arti cles were missed, among ' them a handsome ladies' suit worth over $0, Yesterday the room occupied by the young woman at one of the most reputable boarding houses : in the city was searched, and many of the mtislng articles were v found. It Is satd, however, that the young woman will not be prosecuted. , Among the articles recovered were shirtwaists, the $40 suit ; and handsome under garmentA The alleged guilty woman had passed in good society here and was well thought of. She will leave the city; l a few daya It Is said that she Is engaged to be married next June and that the suit stolen was to have ben her trousseau.;. In all the woman had taken or- la ac cused of having taken, goods which were found In hoc room were valued at $$50. , v , r SETTI.ED BYOOMPROpnsE., -a Suit Against T. E Check, of Durham, i AcljuHtcd In a Manner Satisfactory to the PlataUff, Wliose Cidkl Was f Hun Over and Killed by Cheek's ' Automobile. : s " , ' " . BpecialttoThe ObMerver. . 1 ; ; : Durham, Oct. J 4.7-The damage suit of R.y V. Horner -against : T;. Edgar Oheek v on account of Th killing of little Ethel Horner by an automobile being driven by Mr. Cheek, has been settled, this being, by compromise. The killing of .little -Ethel Horner was some six weeks ago, and at the time there was a considerable howl raised on account of "automobiles going be yond the speed limit Soon alter this Mr. Horner, father of thefdead child, qualllled as administrator, and pro ceeded to bring suit for damages. The complaint : was never filed, but It Is understood that the damages asked for would be $20,000. Attorneys were asked this evening what was the amount given In the compromise and tne reply was that thla wa settled In cantldence and was entirety satis factory to till parties concerned, Noth ing further would be given out about the matter. --- : .,-,. . . - COKTELYOU IS ALU.::! PANIC SPELLS RUN TO K Ills Little Presidential Boom Wo 1 Disappear IJWe the Moiiifnt J:, t Without the Packing of tho i'lita 1 'clcrs Faith in iSef-retary of t: 3 , Treasury is SL'll Held by the Vi 1 y of Wall Street RooHCvelt Woi 1 1 ! Not Stay Bought and He is Despl;l in That Quarter some of This Set Blame the lYesIdent IVr the Pres ent Hurry The Financiers Them selves ReponbIc. Observer Bureau, 1417 O Street. N. W Washington, Oct 24. George Bruce Cortelyou ' has gone to New York. Of all the people who are scared 'at' the ; panicky state, of affairs in and ; about Wall Street George B. la the "scaredest." His little Dresldentlal hnnm1( VnnW h hlnu-n Tlnto smithereens in verv short order were - a real panic to come, and he has been so close to Wall Street s.11 his ' life that , he is ' wholly unable" to differentiate a real panic from a break in securities in Wall Street and -the consequent failure of one or two of -the big trust companies In that vlcln- , lty. For in spite of all the throwing of cold Water on It it is well under stood here that the young man from New York who has had such a sky rocket career has hla eye on the White House, and the only way he can get there-is to be put there In the earns way that-McKInley was put there, in the same way that Roosevelt was put there, namely, by the backing of the -financial; interests. ;- ..:---J" -:-. . -jV T FAITHS , STILL IN CbRTELYOU. ' , . fe For , whatever : conspicuous circum stance Theodore Roosevelt - may go down Into history, it Is beyond per adventure that 4 with the financiers.' frenzied and others, who trade on what is termed "confidence" and who manipulate the people's money ; upon thla "confidence" so as to amass-their . enormous fortunes, he will pass down the halls of fame as the man . who would not eta bought : Because he would not stay bought, there Is no man In' public life or private who is -so unanimously hated as Roosevelt by Wall street The moneyed Interests of New York 1 have - always hated Roosevelt The one time they pre tended to love - him was when they, bought him up In the last presl Jen- -tlal election with large campaign funds. . He stayed bought for a cou ple of years, during which; time he was' the hero of Wall Street But when no longer able to stem the tide of publio clamor for the ousting of those who had betrayed the people's, trust and had committed all sorts of outrages., he turned upon them with , his mighty flow of words. Wall Street opened Its phials of wrath against the man they had elected and who would not' hold out' against the people and let them, In spite of the law, continue their deeds of depredation.. They sttll'have faith In Cortelyou. , He Is ' the man with whom they, made- the trade In 1901. . As campaign mana ger, .for- Rooseveljt, he collected the , money and the understanding was that the administration was to let the frenzied -: financiers and , trust ,depre-. dators alone. Cortelyou Is still faith ful to hla promises, expressed or Im plied, but' he cannot control his chief. So Wall Street's candidate for the presidency Is Cortelyou. He prompt ly went to New York to help out the Wall Street crowd, and : he ' helped them. Of course, Mr;; Roosevelt ap proves of this helping out for th -mere matters of depositing a few mil lion dollars In banks In New York hi such a customary thing and is so lit tle understood by the '- people -- that there Is comparatively little danger of an outburst from the people, especial ly when So many Influential ones feel . that the little. Jeal helps: them out by re-establlKhing confidence in tho banking Institutions of the country. But the very day of the failure of the Knickerbocker Trust Company In New York, and while Mr. Cortelyou waa up there, conferring with J. Plerpont . Morgan ; and other "magnates ! abut now to relieve the situation and pre vent the people from losing confidence in the men who have been untrue to. their trusts, Mr, : Roosevelt was down In Nashville, . declaring that during the sixteen remaining months of his term he would continue to agitate and -put Into operation Vmypollcles. ROOSEVELT. IS BLAMED. ; , , ' One prominent financier In . Wall Street declared yesterday that the, man responsible for the financial .cri sis in New York, which this financier thinks means the whole country, Is Roosevelt Men are declaring that every day, but this man submitted to an Interview on the. subject and-it: was sent out over the wires. Those who hate Mr. Roosevelt say further that If this be so it Is a thing of .which he Is proud.' Be that as It may. those ; u who have watched ; the course of things respecting the senti ments of the people and the ways of Wall Street manipulators are of th opinion that the yew York financiers are themselves to blame. They are the one responsible for the lack' of confidence In them and their schemes. That once sny scheme backed by prominent New York , financier was ' considered a good investment where as now anything backed by them Is under the shadow of suspicion. Is no fault of any one except of the men who have been guilty of such whole sale swindling that the public t gen erally la Inclined to feel ' that they ought to be behind . the bars. There la no douht that Roowevelt would like to have all tb credit for running In these swindlers, and there la little doubt that the people very largely at tribute It all to him. He Is a re markable man.f . lie;, keeps his ear close t the ground and he knows what the people throughout the coun try want r Cortelyou does not know what they" want" . He gets his opln Ions like so many of hla type from the clubmen and patrons of the Waldorf-Astoria dining rooms, and they, one and all. are of the opinion that "the people", consixt of those aho buy and sell stocks on the New York Stock Exchange. - j: That is why". Cortelyou and ls friends In New -Tork -have the absurd idea that he could under any circumstances stand the ghost of a chance for the presidency, , ZACH M'GHEE. President Settles Dowu to Itoutlno. V Washington. Oct. 24. Affairs of State, applications for politic.! a polntmenta and personal visitors otvi pled I'resldent Roosevelt' tlm. t day,. Governor Hoch. of K.n 1 -. who' called, said he belonsred to .1 ban of third termer In K.sts .-. ' would "run evt-r e,r!u,! e, . tho nntl.inal otivci-": '-i 1 a of tfxnn teer.." T'.io J --t c..I ! .t r : '!;
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Oct. 25, 1907, edition 1
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