Newspapers / The Charlotte Observer (Charlotte, … / Oct. 28, 1907, edition 1 / Page 1
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bUi uIPTIOIT PIUCE: C3.00 FEU .YEAR. CHAIiLOTTE, N. C, MONDAY MORNING, OCTOBER 23, .1007. peice five c;::;. OAS to SETTLED DUTAIl-o NOT KNOWN, HOWEVER Covenit v Glenn Returns to Raleigh, and It is ro.-Jsivtly Announced on the Authority of a Person Com pletely Informed in the Matter That tho Dispute Between the State i of North Carolina and tlie Southern W Railway la to Be "Settled by the ' Legislature, Governor Glenn Hav ing No Authority to Change the lute or 2 1-4 Cent He Will Make llecommcndations, However. - ' Observer Bureau, The Hollcmaa Building, , u ' Raleigh, Oct 27. It can- be safely, said ,on the : au " thorlty of a' completely informed per : ' son that the passenger , rate question In dispute " between ' the State of ,. Jorth Carolina .and the - Southern Railway since last spring 'will be settled. The final arrangement may . , . . . be made by the . legislature, which tllxed-tae - rate at 2 14 cents. i Governor Glenn has ' no power to change that rate himself, v The re ports made by the Southern', show the - average a mile paid by passen gers to be 2.4; cents. It has been known for; some days v by those on theInside 'that settle i ment . was in .eight. , it is to-night . Known, poBltlvely, ' though details are ' 63 yet incomplete. -J 1 i . Governor Glenn may make recom- . mendatlons to the legislature. , This la most probable.- Hs returned here ' to-day. v i ' t. , . - V " ' ' -: ' ' " ' TO MAKE EVANS VICE AP3im.iL, President Proposes to Croat This - New Hank in the Navy If Congress ? Will Sanction ItHe Retires Next August and. Office "Would Be of Short Duration. ' Washington, Oct 2 7. The s great fcattleshlp fleet which is' to make Its i . way xrom tne Atlantio to the Pacinc probably will be commanded by a 4 vice admiral and that .officer is now - Rear Admiral Robley D. Evans, v Of course this is conditional upon Con gress giving its sanction to the pro posal that will bamade by the Execu tive 'to establish this new rank in the .American navy.. The' 'idea is not a , new onein fact the President in his ' last annual message to Congress as well as the 'Secretary of the Navy in ; his annual report having made-a rec- emmendation to that effect, but, with out securing the approval : of ion v rrees-k Now, however, conditions are believed to . be more , favorable ; than 1 ever before for this project Rear AdmiralBi-l'gotog a;vW4 , command; of tha rnostipoweriul. fleet that ever gathered tindar the Ajneri .Vean flag; Not- only that;- he com .mand more t-attleshlps ot modern type than any other naval officer in the wordand the only officer whose - blue pennant floats over a more num erous fleet of all kinds of warships Is " Lord Charles Beresford, and ha is of 'even greater rank than a vice : ad rnlral. being an admiral, like Dewey. On this cruise the American fleet is to touch in many foreign ports and ' Is to exchange courtesies with foreign fleets and in several places-y-in Brazil, ' In Chili. Argentina the American , commander, supposing he 1 retaining ' Ms present Jitle - of rear ? admiral, 1 -would be outranked, for the navies of "' all of these countries contain officers of the grade of vice admiral, which would make the American command er's position humiliating. ' It would be pointed put In Adnyrai Evans' case that not only is he by Ms service record, entitled to tnis ad . vancement. but any objections ,to-the creation of this new grade, that tnlght .b broached in Congress might fee overcome by pointing to the fA that as Admiral Evans retires next , . August, the office will be of short du ' i ration. ;-rr?.ffl . XO ELECTION VS FEBRXJAIIT. . Baimmiry Not IJkely to Vote on Pro. f hiMtion Till the Balmy Days of - ' Swing Arrive- Teachers Return to ' Their Work -Gncsta to Crump-aic ;; Corkje Wedding Arriving. . gpoeial to The Observer. ( Salisbury, Oct. 27; At ' ! the t last a.ai meeting of he- .Anti-Saloon League, one which had been called '"' ior the discussion of the election next aprtng, the matter was put . in, the bands of a peering committee. Most of the talk then was for a postponed election, one a M May, because of the severity of the winter and, the liardahlp about the pojls In that sea- on. There are others .who , wish-4t as early as possible, but Febtu ery election wiirhardly coma off, and there will be easier breathing. ; The Salisbury teachers,, Mr T, E. Johnston, Mlsaes Johnsie Colt. Ethel Maxwell,. iAnale. Rabe, Mena Davla ' and Josephine Mauney. returned from Ashoville Jat night, , where they at tended the primary Teachers' Asso ciation. ' s ' i . - r I. ) : prof. I. C. Grlffln returned c this tnorning from Concord, ' -where he " ..-.Vas called by the eudden Illness of . 'kWr9... Griffin, who rapidly improved and was able to retnrn with him.-Gu-ts to the Crump-McCorkle wed- - fling Tuesday evening in the ; First 'Presbyterla n church have begun to ' arrive. ' Miss Mary Carlton, of States , ville; .Miss tMary Carter, of Winston, and Mies Gray, of Winston, are among 1 those who 'Will bf here. Misses Car ' tcr awd Carlton are with the Misses A.iP an"! MlB 0ray wlth M,M Sa?: aavis. -- . o -. ( Birmlngliam T?legrnphcra Return to " Work,, t ' Birmingham, Ala.. Oct.' 27.It was announced to-night that a majority ' of the telegraphers who have boen on Btrlko since August lltli will resume , work to-morrw. They will go bifk ' on both the Western Union and Pos tal, under practically tho wms con ? ditions they were working when call ed out ."',- Local managprs of the companies c state that the men were reemployed ' as Individuals. About 100 men walk " ed out at the time of the strike. '. Rcorela Youth Kills Ills Father. Griffin, Ga., Oct 27. -Harry Lasal- - .ter, 18 years old, shot and killed his : father, William Xasslter. 59 years ,oId, a painter, nhortly after 11 o'clock last night at their home . here. The coroner Jveld an Inquest this morning .and young ,LassUcr was held, oh the BAT V charge of murder. -'.lie -pleaded. elfT V dffnn'e and claimed h! father was com: at hint with a knife. The Two Had a Falling Out While Gambling and the Youn.'rer Tses a Shot Gun With Fatal llosults -He Then Made Good Ills Escape and .Has Not Yet Been Captured. Special to The Observer. ' " . - -' v - Winston-Salem, Opt, 27.- "Hapy Hill," a negro settlement sltuatsd Just east of Sale'm, was the scene of a tragedy about 10 o'clock" last- 'night, in which' Dave Butler, colored, aged 24 years, was shot and instantly kill ed by his brother, Chester -. Butler, aged 18 years. Dave wag .shot with a alnglerbarrel ' shotgun. Chester made, his escape immediately and has not yet been captured. It . seems that some eight,; or ten negroes gathered in & vacant house near therhotne, ot Butler to .gamble, among the number being Dave, -and Chester; Butler. . According to the' statement M one of the witnesses, Chester aid Daw fell out over the game and cursed and abused I each other. V It aeems that they had never got along . well together. - , . ; Susie Butler. - the mother ;of Ches ter and Dave; Btated.to the officers that Chester qame in and .- got his gun; stating that4 he Intended to kill Dave. : She heard ; the reports of the gun a few minutes Jater.. Two ahots were flred at Dave. The first, which It, Is believed did inot Uke effect,: was inside the building where the negroes were gambling. Dave ran out of the building, being followed by Chester. When about twenty steps from s the building he waa flred upon -the seo ond time and. dropped dead. ; " One" persort stated to the; officers that- the trouble between - the two brothers was over a V lamp, , which Chester htd . taken away from & his mother in order to see how to gamble In the out bouse. -Dave, according to this witness, went after the lamp. The younger brother refused to give It up and was badly abused by Dave. He then went after the. gun. 1 The police Were notified Immediate ly after the killing. Patrolmen Hutchlngs and Royal and aJller Han nor, of Winston; Deputy. '..Sheriff Jphnaon, Chief of Police Tow, of Sa lem; and Mr Film went to the scene of the crime. They searched for the murderer until -about 1 o'clock this morning, but ,. were unabla ; to locate him. 1 v - - TROUBLE AT MERRY-GO-ROUND. Tlie Ropes of the Tent Covering It -Are Cut and Genera mcilu lows Undr the Canvas Slany Turn Thlevea But Only One Fellow Is Ar rested. . .!'" Special to The Observer. ' ," , ' . WJnston-Salem, Oct 27, There was on ohim.tAnfftof ercltement at the mirrv-irrk-roun'.i on the corner of J-hlr And Chestnut streets about 10 o'clock last TtigtsrirBtTrmwwFft t;ie ropes io the eanvas over the hob by horses. The canvas", or course, fell down and when tt did there was avmighty scrambling ; of coons : that were taklnsr a - ride. one negro, whose 'name was not learned",; was painfully Injured .about the legs and breast. - - . , - - i -. - 'It feeemsthat whn the canvas fell everybody, or a large number, turned thieves and not a few persons came out minus their - hats . and pocket books. ; Only one arrest was ' made,, however George King, a white man, who was married only about a week ago, being, taken by Patrolman Royal on the charge of stealing a hat and a $10 .bilt V King, it appears, . waa slightly intoxicated. He is a brlok mason and has been at work on the T; M. C. A. Building. In default of a 150 bond he spent the night In the city prison- , ' NEGRO LYNCHED JX GEORGIA. Pa wengera on Central Train Report Lynehlng of Negro at Byron Had Robbed gmaU Bnys of 75 Cents Body Burned by Mob. ' . J'acon, Ga Oct 27.--Passengers on the .Central train coming through Byron, Ga.,". this afternoon . ' brought an account of the lynching' of a ne gro named iohn Wilkes at that place last night t f i r. The' negro-had robbed two small bOys of 75 cents and had attempted to rob - a ' man. of another small amount of cash when Marshal Tom Johnson was notified and matfe an ef fort to arrest him. . The negro whip ped out a large revolver and attempt ed to shoot the officer; .Quick Work prevented this, however,- and a gen eral mix-up followed. .. Several per sons became Involved, but within a short time the. negro was arrested and locked up in the barracks.. ..At a late hour unknown 'persons forced an entrance, dragged the ne-j gro from bis cell and after carrying htm a short distance, the . body was riddled . with . bullets.1- it - was then burned upon a log Are prepared for the occasion. The charred , remains were taken up this morning and were viewed by a large crowd, r,- .."- , . "... . i - - MYSTERY SURROUNDS MURDER. Dead Body of South' Carolina Mfr chant Found In Living Room Over His Store His, Money Unmolested. Xolujnbla, 8. C.r: Oct; 27- At Dua barton, a smlll ' town In v Barnwell county, the dead body of R, F. Weeks, a prominent merchant, was found In the living room which" he occupied ever nts store. Tne window a near which his body lay was demolished and Mr. Weeks . body was peppered with buckshot He closed Ms store abw. It o'clock Saturday night, and It is thought that the assassin war-in hiding and shot him as he was un dreslng preparatory to "retiring. His cash was found to be unmolested in his room. , No arrests , have been made. - J" -' - Mrs Weeks and-children were away from home on visit to Augusta, Ga, High Prices Cause lilght Purchases, i not Money vonuiuuus. , . Special to The Observer, Wins(8n-Salem, Oct r 27. There was a rumor about the city yesterday to the effect that owing to tne string ency of the money market the buyers for the; American Tobacco Company had been Instructed not to buy . any more tobacco at the present The local buyers of the company did not buy very heavily: yesterday, and - this gave rue to the surmise that they had been instructed not to miy mucn to Mcco at present The representative of thevbmpany with whom your cor rpppondent talked stated that the rea- son .that they wer"xiytnr llRhfwe iberauM of the high prices the Weed la brin sir g. A. DEAF' EAR 10 THE SOUTH WALL STREET GETS THE MONEY Tle Application of Congressman Bur . leson of Texas, to the Treasury De partment of the United States For Money to Be Deposited in South ern Banks to Save tho Farmers From Selling Their Cotton at a Big Sacrifice, is Turned Down, While New York Banks Get Deposits in Order to Save SeeurlUes Only the Siren Voice of Wall Street Heard by the Secretary. Observer Bureau, 1417 G Street, N. W., t Washington, , Oct 27. ' The Secretary of the Treasury' nav ing deposited $25,000,000 in the banks of New York and Indicated a will ingness to deposit more, in order to establish credit' in New " York . and prevent the sacrifice of securities, cer tain representatives of Southern in terests have made application to the Treasury; Department for deposits to be placed m southern banks in order to prevent Southern farmers and cot ton dealers from aaerlflclng their cot ton ' at depressed prices. ; Secretary Cortelyou la still eitting on the lid in New York,; but the matter has been put ; up to Assistant Secretary 1 Ed wards, Acting Secretary, by Represen tative Burleson, of Texas, and Mr. Ed wards :. has:" refuse J. ;vMr. Burleson asked that the Secretary of the Treas ury deposit s$10,000,000 in Southern banks to be secured by warehouse receipts on cotton, r The idea is that bankers - throughout the South ; have served notice upon, owners of cotton in warehouses that they can no long er make : advances ' on cotton to- be held In storage. ' 4 The bankers give as their reason the money stringency, but it Is understood that this is mod ified by the desire to 'force the sale of the cotton in the warehouses and thus bring a flood of foreign money Mnto the Southern market. ; - Mr. Bur- is as much reason to avoid sacrifices in the sale of cotton as there Is in sacrifices in the sales of stocks and bonds. ... If the United States govern ment la going to : deposit money ; in Wall Street , , to ease ; the money stringency so that brokers and . other holders may not have to - sell their bonds in order to realize needed cash, this same principle should apply to the holders of cotton. The propo sition he made, at the Treasury De partment was that Treasury deposits should be made upon the security of warehouse receipts at 25 per cent of the market value, this would be perfectly safe, as it would allow a margin of 75 per cent, for any pos sible depreciation in the value of the cotton. ., '"; tf,;. CROP WOULD BE SACRIFICED, "Those warehouse receipts held by the banks represent an actual, not a speculative value," says Mr. Burleson, rif the cotton producer is forced to sell hie cotton, because the banks will no longer advance him the money,; and for the Durnose of hrineins tnrem Jtntmey.lntotij.lg eountry for, the relief Of the Stock market, it will mnn that the crop wHl be sold for about $160,- aaaaa a4. .' a .. - - . . vuu.uuu Deiow wnat u s.iouu bring and that the advantage ofXhls forced sale will accrue to the foreign pur chaser, and that much money which should come to this country, going In to the pockets of our? farmers, will be ?ield abroad. - :..:.;.,. "A forced, sale of the cotton crop at whatever sacrifice of price would, of .course, bring a large vobwne of money to this country, but It Js poor economics to .force the sale of a com modity of actual Value by the produc er in order to increase the volume of money Immediately available to sus tain the value of the stocks.' v REFUSES THE REQUEST.' ' " It Is not likely "that Secretary Cor telyou will grant the request' of ;Mr. Burleson or any similar request for aid .coming from the South. y He does not understand that there are really any : "business interests" except thcl centered in Wall street. If the banks there need money, then the country Is in a desperate fix, argue; all the financiers and their friends In New York; and Mr. Cortelyou has lived so much In the atmosphere of . Wafl Street and those who are dominated by . Wall rStreet Interests and .:, Ideas that he really does hot understand wv. j vmt duu klit&k iiic (country Is really one thing and Wall cured - unoiner, w nen y Vvau (Street sets up a howj for more money, why from time. Immemorial the vaults of the- United State Treasury have been opened up. 1 When the cry comes irom me eoumern farmers for more money, It Is not heeded because the men who have dominated the Treas ury Department, while they may have been perfectly honest and sincere, have just simply not understood it. They ask the Wall Street bankers and brokers what about It and get the reply that a few more millions dis tributed among some favored banks In Wall Street will so relieve th mnn. ey stringency throughout the country that . the Southern farmers and the western miners and all others will prospen So it Is done. ' . , . 2ACH M'GHEE. ' BIG CRIMINAL DOCKET,' Three Murder and Several Other Im portant Casea to Be Tried by Court of .General Session Which Con venes at Chester To-Day, , Special to The Observer. 1 ' ' Chester. S. C., Oct; 27. The fol low)ng prisoners are confined In the county Jail awaiting trial at the Court of General Sessloans which - convenes in this city to-morrow: Lawson Ad dison, 'murder; Will Johnson, murder; Thad McCreary. house-breaking and larceny; Ellen Taylor,- larceny; Dave Kllllan, larceny of live etock; Walk er Crank, larceny of live stock; Knox Chalk, assault and battery with In tent to kill; Frank Owinn, carrying concealed weapons; Alethla Crawford poisoning; Jesse Wall, assault ;and battery with intent to kill. s ? -Gus Lee. Who is nnilKr in.nn. death for murder, but whose case has oeen sent 10 me supreme Court on ap peal, la also confined in the Jjounty Jail. William ,Croktt. :. .!... whom a charge of murder rents, 1 vui on - oona. jaxe i Kee, charged with violating, the, 'dispensary law, is also out on bond. : Chkago Politician Killed in gun. day Auto Accident , Chicago, Oct - 27-Jatnas Reddlck, chairman of the Cook county Repub lican central committee, was Instant ly killed early to-day by the over turning of an automobile In which he was riding near Ubertyvllle, a suburb. Mrs. Reddlck, Mr. and Mrs. Charles Taylor and Mr. ? and;! Mrs.; William Wells the other occupants of the car, escaped with slight Injuries. Tho ac cident was due to the skidding of th- automobile on a muddy road, caush the machine to upm t In a ditch. Mr. ' Redulck'a neck waa broken. SALISBURY LIVENS UP. Visitors Flock In to Prepare Their Shows Ir the Fair The Turner .'Pictures to Be One of the Feature Exhibits Pickpockets Are Being Closely Watched A Scans Given Them to Start With. Special to The Observer. - Salisbury, Oct. 27. The town is alive with visitors' to-day. They aro here from everywhere," preparing their shows for the big exhibition this wek. The weather . opened favorably this morning, when enough rain fell to lay the dust which rises In clouds day ; . and night ' at. the grounds as the men work to finish them. To-night there Is hot. much Joy on account of the continued rain, but The Observer brought hope to thoa reading its .weather ' forecast iwhlch is favorable, to a big crowd. The papers throughout the State are writing of big crowdsj that are expected here. They will "come on all days and the fair promoters are expecting unlimited numbers. ; , The opening date ' with Senator Overman will be the really big occasion,, since there is to be 'no; other speech,, and that also Is children's day. , . : - . One v, of the v features shown throughout .the t fair is ' the , cele brated Turner pictures, Which' num ber something like 200 of the world's masterpieces of art They are . being shown under the 'auspices of , the graded school, which divides the pro- j ceeds and buys pictures from this exhibit to hang upon the walls .of: the school. The ladies of the town are In , charge of this part of the felr.-:. -'r-'.uvV-,'"- y '-t:Ai'- The plcknocketa lad a scare on the start, e Yesterday when they . arrived late from . Charlotte . they made j friends with a negro, to whom they: looked, for direction to the - easy marks. Little Prances Julian, a child , of Mr. and Mrs. John M. Julian, overheard .a conversation beta-een them and the negro. In which- they said they had ' bounced their bonds and fled Charlotte. She knew that this" was not the proper sort of talk and pointed the men out , They are marked, and the oraoere are. con stantly on their: trail. It is not be lieved that they will have the luck here that they toad la Charlotte. CONVENTION OF S. S. WORKERS. The Forsyth Association Meets at Book's Churcli Many Talks Made Officers For Ensuing Year Elect-ed-tMany PubUo Schools Open This Morning, r'' k" s "' Special to The Observer. Winston-Salem, Oct 27. The For syth Sunday School Convention met In annual session yesterday morning at Beck's church, half a mile north of Bethania station. There waa a large crowd present, but not as large as usually attenJs the convention. The convention waa presided "over by the president Mr. . E. - A. Ebert, of this dty. s Interesting talks on the Sunday work was made by Rev. J. W.' Long, of Raleigh, State'seeretary; Miss Maud Reld, ef Raleigh, office secretary: Rew. T. W .GrbbRev J.'AvHopktns, Mr. R. R. Crawtord and Ir. F. H". Lash . . Th following offlcsrs were elected for the ensuing years President. E. 1 trhert? K- nreiiident. W. B. SDeas! H. M. Hlnsaw, secretary and treas urer. The roiiowmg namea togem er with, the officers form the execu tive committee: ; Rev. ; George 8. Beaden,; Rev. E. E. Williamson, Rev. Dr. H. A. Brown, Rev." G. L. Mil loway and Rev. J. Kennett Pfohl. The next convention will be held In Kernersvllle the : first Thursday and Friday-of October, 1908. The white and public schools of the county that have not already openeJ are arranging, to. begin' the fall term. A. large, number of the schools will open.' to-morrow morning) Those that do not open to-morrow will open the. Monday following. There are In the - county 7 white public schools nd 19 colored. " County Superintendent of Public In struction W. B. Spaas will begin in a few days to make his regular visits to the schools of . the county. The township meetings wlll be hell In a few weeks. . . . - THE PRESIDENT 4. No Celebration Attends the Event, But : Congratulations Pour In Upon the f Chief Executive. . ' Washington, Oct ,27. This waa President Roosevelt's 49th birthday, No celebration marked the event, the President rounding out his 49th year and entered upon his 80th with the same simplicity that always charac terises his acts. He did not depart from his customary- Sunday pro gramme of worship; woric and recrea tion. -; Much of the day, however, was spent at the- White Houso fireside In quiet .family rejoicing. Con gratulations In large numbers - by malt, telegraph and ' telephone were received at the White .House during the day, ' President Roosevelt attend ed services at Grace, church in the morning after whfc:T (he spent a short time In the executive office going over his , correspondence. In the after noon. In a downpour of rain,i. tlie President, : accompanied only by the usual guards went out for a long cross country walk. He left the White House about 8:S0 o'clock and returned shortly before f o'clock. '. . , :' To-night President Roosevelt . re ceived the Hungarian Club, of . New York, in the east room, when, the visitors extended the Chief Executive their congratulations, v It has boen the custom of th club to visit Wash ington on President Roosevelt's birth day to pay thete;rnv'TTTi--rt':i-i': King Edward Sends Congratulations. London Oct; 27. This belrig Pres ident Roosevelt's birthday. King Ed ward sent his master of ceremonies to Wrest Park to-day to;xpresa ?. hla Majesty's ? congratulations ' to v Mr. Roosevelt through Ambassador Reld. Pennsylvania Trainmen on a Strike. Huntingdon, pa., : Oct. 27. Train men on the Huntingdon ' and Broad Top Railroad went on strike for high er wages to-day and practically tied up the entire road, Only two en gineer and one fireman out of a to tl of 160 trainmen remain at work. The men demand wages equal to tho.e paid Pennsylvania i Railroad trainmen, - ' . Historic Home Burns, '' ' Evansvtlle,. Ind-. Oct. 27. Informa tion received to-day front Rock port. Ky states that the historic hom of . . ..... f . . J- .1. . ine late ui'iiini Dun vomu. im-ii n Alrdrieflon Green rivers was -destroy ed by fire last night. The, home was occupied by General Buell during the civil ; war,;;:.,i v : , . :.:,- ? t'i&V: ' ,:;: . - Two Dead In Texaa Wreck. ; f ..ballae, Tex., Oct. 27. A wreck on the Missouri. Kannas & Texat Rail road, which occurred to-day, killed trus f.rrt.. paenser ln..the Mffry of thp vompany. . Two atad,. z injured, Othtrs. may die. t - . , SEW YUBiTS SUNDAY CALH NO FE.RS FOR COMING WEE1C. The Onlv Scene of Activity in Flnan- eial Cirelcs Was at Uio Clearing House, Where a B! Force of Clerks . Prerared For the" Issuance of Loan Certificates To-Dav Both Banks and Trust Companies Will Meet Largo Demands in Checks, Refus ing Currency Unless Evidence ia Given That the Demand is In Good Faith and Not For Hoarding How ; the System of Cheek Credit Will Operate. ' . . .. New York, Oct 27. The feeling among banking authorities to-nWhl is that united auction and wise coun sels have already accomplished much In providing a solution for, the finan cial problem , with which they have been called on to , deal during -the Rast week and - that with remedial plans now further perfected the prom ise ' la ? strong for the uninterrupted maintenance of financial stability. To day was marked : by the usual Sun day calm., which gave the financial leaders an opportunity to ease the ten sion of overwrought nervea experienc ed during the past week. Most of them - remained at home . throughout the day and there, was a noticeable absence of those hurried eonf erences of recent days. f ':?:: v. t The departure of Secretary Cortel you for Washington - removed a con spicuous figure from the field but it was felt that with President Roose velt's strong support as expressed In his letter made public last night, Mr. Cortelyou's presence in Washington was favorable to such further govern mental assistance as might be 'requlr-ed.-:,:.v.:,-..:- ; ACTIVITY AT CLEARING HOUSE, v At - the clearing house there was much evidence of activity In prepar ation for the Issuance of loan certifi cates to-morrow. This, however, was confined to the subordinates, as the 'loan committee, which is to pass upon collateral offered for the toertl flcates, did not hold a formal ses sion. . Another evidence . of activity was the small knot of people gathered at some of the institutions where runs were in progress last week, waiting for. an advantageous position on the opening of business to-morrow. The Indications are that banking institu tions will hot pay out large amounts In (currency to-morrow except to meet legitimate requirement of their cli ents for current' business. It has long been the practice of trust com panies an! some of thf smaller banks, In meeting checks for consid erable amoutits, to draw checks upon the national banks with whlcli their reserves are kept ' If they pursue this policy to-morrow, and until the end of the present crisis It will not be a departure from their usual prac tice. Such checks ' under ordinary circumstances are preferred to cur rency and if currency ;1s demanded In unusual amounts it will be refus ed unless evidence Is given that It Is required in good faith And for oth er turpo8esthan iiOardlhg,'; topre- vent, which is the main purpose of this aien, -,r. ;...-f :,,.. .t,i.;ivi.;. .v CURRENCY ON CHECKS. : Currency will be paid on small cnecks where deslred,vand to provide tunas ror pay roils and other legitl mate and ordinary . uses.,.: It may be thought advisable to stamp checks -payaoie tnrougn clearing house" as was done in 1893.- The suspension of currency . payment at that time ex tended to all . the , banks and also to the trust companies which were1 tten a comparatively ; small factor in the situation. ' Little, .. If any Inconven ence resulted from the payment of check Instead of currency except In cases where there was special need for currency. . Currency at that time went to a premium of a fraction of one per cent and in some eases even as high as a full one per cent. This was due to the fact that currency was refused even for pay rolls, for the use of retail shops and for other purpose for which it Is required - CHECK, CREDIT SYSTEM. , ; It is believed that the situation will not be so acute on thl occasion and that currency can be paid where It ' Is required , for legitimate business purpose and not for hoarding. This system of check credit will operate In the usual , manner and there will be no inconvenience to the man who does not make peclal effort to obtain euwency., -Check drawn In pay ment of current obligation will be received for deposit by any bank and redeemed through the clearing house In i the usual manner except that clearing house balances against the bank will be aettled In clearing house loan certificate Instead of currency. A man having a bank account will have check put to his credit as usual and can draw them freely, without Interruption In the course of his re lations with the bank. ; It Is not be lieved k that the dearth of currency will be such a Jo prevent those re quiring smalt amounts, or not having a regular bank account, from obtain-lag-it. v'V' CLERKS WORK HARD. ; A large force of clerks was at the clearing house to-Jay preparing for the ; issuance of loan .certificates to morrow, i ? These are In $7,000, $10,000 and $20,000 denominations and In the following1 forms - . "Thl certlfle thatch" (name of bank) , has deposited with thl - com mittee . securltle in accordance with the proceeding of a meeting; of the essaclatlon, . upon- whlch thl certifi cate Is issued, Thla certificate will be received In payment ef balances for the sum of .balance for,th sum '-of $ MOO from any member of the clear- ing-- house association. . "0n tha eurrender of thl eertlfleat by depositing bank above named the committee win , endorse th amount as a payment' on the obligations of said bank held by them and surrender a proportionate share of theVeollat eral securities hejd thereunder." .-.,..(; Thl Is th form as used In 1803 when the certificates were last avail ed of. At that time the certificates were of great benefit and aided ma tertalty In clearing the very serious situation then existing. , OOIA'MRIA RANKS ALL RIGIIT. Financial SHnatlon In South Carolina if, .; 1 1'iiusuaily Strong ,s. -, ; Columbia, 8. C Oct 1 27,Whlle conditions In New York during last week are greatly deplored and . are considered without Justification, bank ers In Columbia have not, been even rervoui and are perfectly confident that the mental aberration which Is tsttiittftiea tn financial circles r the great money centre ha already pa ed and that the ) coming week - will wltnems a restoration of confidence In tho Nw York b.mklnR anufitlon. Tl.a rnanclal poItton rf ti fvith la unuual!y strongi There. U 1 abso lute confidence of continued prosper ity this fall 3nd .winter. South Cafollnx farmers have made good crops-' thtg year and. there Is every reason f.jr confidence In the fuj ture. ' .V..' . . . . ColumKa bankers all regard the situation as bright and behove that the apprcachlng week will witness a clearing of affairs In New York. Feeling of Confidence in Savannah. Savannah. Ga., Oct 27. It is with a ; feeling of confidence that the bankers of Savannah view the re sumption of business In the great financial centres to-morrow. The be lief is general that the worst ha passed, and that there will be rapid and, general tatorovement In the situation. s , - " "The determtiatlon of s the clear ing house associations of New York and Chicago,"' said a prominent bank president to-day, "should, and no doubt-will, serve to relieve the pre sure upon the banks, place more currency at their disposal and cause a rapid passage i of the. financial stringency. The crop moving period Is approaching its close, and : soon the money centre twill be . free from the strain, thl .season always s 0,c. caalons. The movement! of cotton In the ; South will soon have been - ac complished, and foreign mills' i pay ment', for the year - will render money Trouble Righted at Pittsburg. v ? Pittsburg. Pa, Oct. i7. The finan cial situation In Pittsburg,: notwith standing a number of surprising and unexpected occurrences 'during the past tew days. Is viewed optimistical ly at the opening of the week by men prominent in . financial and buslnea circles. - r . The condition here hive quickly righted themselves owing to the ad mirable confidence of the people In the financial institutions and that af fairs are progressing normally are the expressions contained In statements Issued by the Pittsburg chamber of commerce, Pittsburg Clearing House Association and individual bankers and business men. -' $ , , ' As to ieumlng operations on the Pittsburg stock exchange to-morrow no official announcementafhas v been m-ide and the matter will not be defi nitely decided until after a meeting of the board of director to-morrow mcrnlng. .'A l-' 'i. ? Condition Satisfactory at Charleston. Charleston. 8. C, Oct . 27 The fairly satisfactory conditions at. Sat urday' closing scenes In Wall Street were -viewed with satisfaction nere and local bankers expect a return to the normal ln a very short time, al though Monday, all think, will be a very busy day in financial circles everywhere. ., The quiet, even tenor of affair in the South ha not been dis turbed and local banker predict a "purging of Interests which: are inl mlcai to true, banking and as a e quence the country .financial eonai tlon safer end wner than before.H That the orosnerou v conditions , in the South will not be eerlously affect ed by; the "rich man' : panic" in the North and East; i me - impression prevailing here.. -, , Richmond Financier Not Alarmotl. Richmond, Va., Oct 27. Rloh mond financiers are not alarmed over the " depression in stock and the atringency of the money market The feeling - that the torm 1 over is universal. :.:r:.''-:-:y': ;;A number-of purchaser have lost heaylly on account of the decline, but there have been no failures and very few have been forced to sell at the low price. The banks have had sufficient money to protect their cus tomers, but have steered a vry con servative course in the matter of larx loan. Secretary Cortelyou Rack In Wash , lngtou. Washington, Oct 27. Secretary of the Treasury Cortelyou returned nere from New York last night, where he had been In constant touch -with the financial situation. The Secretary was seen at his home to-day, but he declined to make any, statement re aardlna conditions except to say that he will not return to New York. It la known, however, tnat me aecre. tarv looks for no further trouble among the bank and trust companies of that city. .. New Orleaiu Bank In Good Spirits. Now Orleans, La., Oct. v 2 7 New Orleans bankers begin this week with an outlook for better condition than for some time pastK Aside from the fact that they regard the New '. York ituatlon a better, a big sugar crop is lust starting to move. As this wa, financed month ago, Its movement mean the return of cash , to the bank. Similarly, but In a loss de gree, the rice, crop, which la excellent thl year. Is expected to Improve con ditions. ; Rice is already moving to the market ' Conditions Good In Memphis. ' Memphis, Tenn., Oct. 27. Other than to have cauned a slight tighten ing tendency the condition prevalent in Eastern financial centre , during the past week have been without ef fect locally and representative flnan clers are unanimous in expressions of assurance to the stability of monetary affalrr in thl : city. : . Offi cial of the different, banking institu tion state that ample fund are avail able to meet all normal requirements. All Right at Galveston. i Galveston, Tev Oct. 2T.HSummf ng up the. financial situation In Oalves ton, T.- J.-roce, president of. the Gal veston elearing house association, and president of the Galveston National Bank, said to-day: . There are no disturbing factors In the local situation. The feeling Is quiet and there Is no savoring of a disturbance In the atmosphere." ;? Satisfactory at Chattanooga. : ? Chattanooga, Tenn., Oct 2t. The bankers of Chattanooga are a unit in declaring that the financial situa tion In thts city Is entirely satisfac tory.' All the bank are well supplied with cash and the commercial health of the Chattanooga district wa never better. The disturbance In the East has not been felt here and there 1 no unesstnes a to the future... -Situation SAtbl'actory at Nafdivllle. Nashville, Tenn.. Oct . 37. New York's financial excitement has not shaken confidence locally, i Legitimate enterprise and ' Indus tries are experiencing no difficulty In securing ready money. v ; - ' A prominent banker to-night de clared that the situation here wa en tirely satisfactory. Atlanta Bank Not Worried. ; Atlanta, Oa. Oct. 27, Local bank erg exr-rcas entire confidence In the financial situation and ny they do not expect trouble of any kind. The situation, they say. la well iu hau l end money 1 -comtr.s In 'fast Irom PiioGEESS o riLiii: ;;j NOT SO SLOW FOR ORIENTAL . A Few Years 'Ago Manila Was Pro- , nounmi the Dirtiest City In ti e East and. To-Day It is the Clcanr-t and Mot AttraetlTe Tlie East Can not Be Hustled, But It Can Bo Developed &bitemnen Begin to Realize That the Philippine I.sland.s Are the Key to the Situation The Secretary of War the Heal Cutt dian or the Nation's Polley. :. Special to Th Observer and The Phila delphia North .American. Washington. Oct 27. -William H. Taft may expect to be the custodian while he lives, of the American policy toward the! Philippines. : His opinion may not be the flat, at every stage, biK his' advice will color every act.' Whatever the change of circumstance or administration. In th first rank ' of Americans, he alone ha given close i and sympathetic study to island con ditions. In no rank Is there a man who combines such extensive knowl edge, with a broad, cool, sensible, far- seeing though tfulness. . . - . Mr. Taft is too judicially restrained to promulgate glowing visions, if thry arise In hU mind. With blunt com mon sense he has told ; the Flltpins that he comprehends their shortcom ing; in effect, has said that there f will be nd holding Of the bag of re sponsibility by the United States while native agitator revel In spoliation. He ha told 'the , United States that . it must regard the Philipplfres as a bur den of duty, not as source of gain. Yet, to a oreablve Imagination, there are poealbilltle, in the islands which would Justify something of fascinating -prophecy. - . T : '"MANILA'S PAST GREATNESS. " - Manila waa one the "Pearl of the Orient,'? the most important , trade centre of the far East. Stupid Span- Ish rule, stamping out native Indus- ' trial improvement and forcing all commerce; a far as possible. . Into . Spanlah hand and Bpanlsh markets, drove; business to Hong Kong and other port, in spite of the ohoklng process. Manila Is a great city of over . 250,000 people. J export about $25,000,000 of product and tirfport not far from $30,000,000, . There are nearly a score of other ports, In pop- ' tflatlon from 5,000 to 20,000, each doing business on a large scale, and each capable op Indefinite advance--ment as resources of , It tributary country are dvelopsd. ; IJ ' not, however, th present -trade, but the potentiality of the la lands, which 4 bright. (Manila to convenient to China and all It sea port; to Singapore and Calcutta, to Japan, Australia, Java and Borneo, to the North 'and South American coasts. If China awakens, as Japan hna awakened, to modern industrial me, tn posmoijitie ot it commer: are bardJy to be' measured.: Whether Its lndustrlail revolution I swift or nesttating, its trad la already large B.I1U Will IIHTSHJ, . .. . I V t ,.rvTat lent igo arraspet th truth of Kipling verdict that an ; early grave await the" man who trie to hustle the East When Taft quoted the. line to hi irlend five year ago, he did not mean to surrender to the East's Inertia. ? He meant that tov rty, frivolity and , utteV ' ingratitude are element of the -problem to be accepted Phlloaphloa4ly, to be dealt w ith a leaders of men deal with the Identical problem In a lesa aggravat ing form among Americans, English men and Germans., Work and wait; gain a atop to-day and nrther to morrow. ( .... , FILIPINO PROGRESS NOT BAD.' ' ror Orientals, the Filipino have progressed rapidly, In 1895 Manila was pronounced the dirtiest town In the world. To-day ft 1 the cleanest and most attractive place la the East. Million of dollars are being expended In Improving that and othr harbor Native labor has proven itself -better than Chinese, Japanese or negro im ported labor. If there is anv ub etance In the American fetich of nl vwsali education, the next generation of adult Plllpiao will be Incompara bly the best equipped people outside ttt Europe and the United State; and the education will have been bestowed largely by industrial training echooK rThe East cannot be hurtled, but it can be developed. It 1 hot barren lrteallstta dreaming to menully pic ture Manila agala the poan of th Orient, and the Islands a great con suming market, while they send out huge quantities ; of hemp,.ugar. to baeeo. lumber, rubber and ceffee. The exploitation of mineral resoureest may bring to the (surface, with other com modities.' a new production of the" most precious o." metal ar.d cause another of the gold-rush which al most Instantaneously transform the sluggishness of a region Into high commercial activity. And the-statewmen. In the face of ri dicule, may see !n the Philippine the key to the naval altnatlon In . the Pacific. They must he defended. It la true. But every coast must be de. fended;' and Japan learned at Port Arthur, as we saw at Santiago, what an advantage land defen ha against attack by ea. The statesman, of any nation, esteem the Philippine worth defending, for, the country whk commands the harbor of these island must be reckoned with at every; turn of latter-day diplomacy. Secretary Taft' humorous eelf-re-stralnt doe not permit hhn to expre.w. perhapa will not let him think, the thought of th. trade prophets and diplomatic" rtrat-glsts. Sometlme however, he rmust wonder what frao-' tlon of the "hopes ehtertalned by the visionaries will be realised In his life time and what will be hi feeling', when ha reflocts on the part he ha played. , the marketing of the cotton crop and there l no reason to anticipate any atrtngency in the local market Philadelphia' to Lvme Certificate. Philadelphia. Oct 27. Member of the clearing house at a meeting held last night decided to issue loan cer tificates to-morrow. . , Richard H. Rushton, ; president Of the .Fourth, Street National. Rank., said: - - ' , "The situation is much Improved. While our action In deriding to iwut certificate of credit will undoubted:,' strengthen local institutions, it was precaution rather than a necessity." Ne"w Oi'l'ans Jiank Will Reqnlro c Buy Notice. .New Orleans, Oct. !?. Af.t ,' meeting Of the New Orleans cbvr' house, it was announced to-u-i ' that all bank in New Orleans w require 60 days notice to with' savings deposits, that the piyt 'c ' Currency to anv one depositor v. be limited to $J0 ft Oiy t ;: meet ' r..'. i. an 1 t .
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Oct. 28, 1907, edition 1
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