Newspapers / The Charlotte Observer (Charlotte, … / April 27, 1908, edition 1 / Page 9
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CHARLOTTE DAILY OBSERVER, APRIL 27, 1908, U COMMERCE f AXD JlNAXCE THE SPECULATORS TAKE HEART 6KM-ka. . ami Bonds Absorbed 1 With More Confidence and In Greater Quantities lMt Week, Doe Primar ily to tlte Success of the Pennsyl. , Tanla Beiul Issue Collateral Influ . encea Also Played an Important -Iart-i-w Financing Docs Not In- riloato B Dotiirn in Vnrmal Condi- ' , New York, ; April -tf. Speculative sentiment, as reflected in the aecurt tiea market last week, took heart de cidedly and stock and bonds were ab sorbed with growing "confidence and Increasing volume. The dominant fac tor in causing th improvement wa the betterment of the investment sit uation, and the incident most relied on to point this improvement was tne success 4tit the Pcnnavlvanla. bond Is iue. It-la many years since a single financial 'transaction has been invest-, d with so much significance as this Pennsylvania operation. Analogies are drawn with the $50,000,000 Lake Shore and the. IlOO.OOO.OOONew. York Central bond Issues In the spring of ' i$7,i which marked In a decisive way '.the re-eatablishment of credit and( the 'start "of that growth of prosperity- in .-the country which ran ultimately .to - unprecedented heights.' The- com pa . rlaon offosa some, striking, contrast. ' The- VasaWBUt Issue were 100. year a and K per cent general refunding :. mortgages ana tlte par value realised for them -was hesalded aa marking a . -new era In American railroad finance The event proved that this new basis . of interest return on capital was not 4o be permanent and-waa due. In- iarge part.. , to -the prolonged . prostration which, had preceded, It. coupled with dlstruat'and timidity of capital, which had prompted (ts hoarding and accu mulatlon to a point of extreme redun . dancy.. Terras of the present Penn , sylvan la bond Issue indicate no auch , .unwieldy .plethora of Idle capital, the 40 year 4 per cent.- bonds being sold to , .. subscribers at . from which must be .- - deducted the unknown bankers' com pensation, to arrive at. the ; yield to the ftsue. ThA Pennsylvania -bond . : sale, however, ha had the effect of 'creating confidence" that the revival of - credit of the railroads has set in and foreshadows the arrest' of the Indus- , trial and commercial contraction. Collateral" influences expected to flow from this chief development of the weak played a. large part In the stock market Improvement. The par' tlolpatlon ta the extent of half, the -. . new loan by the great banking houses of N. M. Rothschild Son and Bar ing Bros, St Co.. of London, ha atim - ulated expectation of a widening In ' terest on the part of foreign Investors - In the now issues of American securl .-'tie which are known to be imml nent as conditions may. become prop! . tlous. Union Pacific has been especial - ly affected, as its plans for a coming oona issue nave been announced al . - ready and Ita banking cpnpectfons are k With Kuhrt, Loeb A Co.. through which the foreign participation In the Pennsylvania loan was enlisted. The heavy subscriptions for the new Issue , . . demonstrate the strength of the bank Ing pnejtlon in New York and the bet terment ia the investment position. ' The'effect on the securltiea market, ,.- newever, wnue marked, has been so Mr and restrained- and without lymp ,. torn of speculative excitement. This restraint Is partly due to qualifying considerations In the outlook. . The new financing, while Mflectina- marked . Improvement In conditions over those of the.-recent past? does not Indicate , the fu) restoration of normal condl- ... tion either of credit or of canltal supply.: The Immediate conditions In : Industry and commerce, also, are not vi cneering enect. , , CLEWS' HXASVCIAL REVIEW. Underwriting of Pennsylvania 4 Per Ont. Bonds , Most- Significant Event 4f Patt Week Gold Jlelng Exported Again In Largie Quant l tlea Trade and Industry Combine nrprenepd. Bus Stock Market Khows Considerable Surface Strength. Correspondence of .Th Observer. New York. April 2S.The most signlR i.. 60" event at th week was the success ful underwriting of th $,000.000 Pnnsyt . vania 4 per cent bonds. This la a very gratifying Indication of revival of confi dence, as well . as positive proof of lm , provement In monetary conditions. ' An other pleaaln (feature connected with this, transaction la that Drantloiiv nu. V ;J hf of the Issue Is to be placed abroad; m jci.ikui oeiuonsirauofl that there . Is 4 reviving forelKn market for American , Investment of unquestionable security, - especially when they are backed by . management, of good reputation. There is sojld encouragement in the fact that pro minent foreign bankers are cnoe more willing to finance our best American rail- mad properties, Europe, however. Is still ln; a very discriminating mood, conse quently it would be premature to antl- eipate any general Influx of forelim capl ; . tai Into thi market, r During the next six ' or twelve jnonths . several . hundred mil-' : Hon of railroad obligations will mature ' and.must.be extended or refunded In some fashion or another, hence it Is a relief -to know that Europe will take, a portion of our high grade Investment. L Tor some time to come . our leading A- tianclers will be well occupied In taking - care of refunding operations; In the flo tation of issue deferred by the panic, and In the. reorganisations made neces. ' cary by present depressed conditions and past corporate misconduct. Foraunately the prospects, of financing such opera ttons have been much facilitated by Im provement In the money market and re- moval of the credit blockade. What the -' effect of these operations upon' the in . terest rates will be. remains to be seen : Possibly the extreme monetary ease once expected may not altogether materialise; for. In addition-to the flnanelal demand . Just referred to, and tbe export movement , of gold, - there la the early prospect of withdrawals , of government deposits to , the extent of t50.0UO.O0O, The government's deficiencies are steadily increasing, and, Secretary Coltelyou must soon bexin to . e'alt In the heavy deposits . made during the panic; probably taking funds from where In his 'Judgment" they are least needed.' . From these three quarters - tt will thus h seen that the demand uuon the money market between sow and the . crop moving esV may be considerable: not sufflciept, , however, to produce any rVpagoncy whatever so long ar general Htde -and Industry remain as depressed - '.. as at present. .- About. I.MO.O0O' gold ha been ordered - for expert thus tar. and more Is expect .d to follow; estimates varying from 2B.- . SilO.OOo to t50.(X.or. Such a movement 1 perfectly natural and should not cans - th slightest uneasiness. History shows that-much of the gold brought la te check, previous panics waa invariably re turned a few months after the crisis. It ' should be remember ef we are now carry- ' . log a very targe surplus of gold, and can readily pare the amount auggested to ' Europe, wb ertt will do more good and Indirectly- benefit the United State by strengthening th situation - there. .Our imirvrxm mi huhi iii-w lST ntr amouTited to about fljn.fw.ono; ajj at. We "'. faTS beeii prsducing gold at tb rat of . tao.fXW.OOO annually the world's produo 'tton being about $400.ono.8o per annum tnr eipectea arupment .esn aa us no hsrm now tht our time of need Is past. Nor Is the effect of tltes shipment upon .- th money market likely to be tmpor , tant; fr New Tork banks have already - surplus reeerr of about f).000,orA and currency Is returning freely from th In , terlor, encouraging th accumulation of Idle funds. , So far as tbe gold movement Is concerned, the balance of trade still continues largely In our favor. 'While our exports of merchandise nave been shrinking', especially cotton , which fell' off $iS,eoo.oo in March, our, Imports have been declining at a still more rapid rate because of trade depression. . We conse quently have a much larger excess of merchandise r exports than a ' year ago. Thin fact would tend to discourage gold shipments; nd If Europe take our se curities to any Important extent this will of 'course further hinder the efOux of the precious mttaL - t,-rj ' U Trade ani) industry continue depressed and unfortunately the signs of renewed activity are few and far between.' Kceno-; my is still the order of the day in both corporals 'and private expenditures; and retaUera are now feeling the effect of de-' prcsslon. which results In the placing of fewer orders for nearly an manufactured j products, thus diminishing the volume ot trade and keenlhr many industrial es- rtabllshment ea abort ttai Of course the present rate of curtailment cannot go on indefinitely.' - Supplies will become exhausted and must be replenished; but It would seem aa though no permanent revival . could be anticipated until the process of readjustment had " run Hs legitimate-course. This Is something that will require both time and patience. A considerable portion of the Pennsyl vania's new bond Issue will provide funds for completing the new work of thajt great corporation. - It I not likely, bow ever, that he company will do more than complete the work already undertaken, or make Improvements other taaa those absolutely necessary, : It the management Is to pursue ; the same prudent course which It has always followed In the past It will postpone all. new enterprises until the cost of steel and other materials, not to speak of wages, has come down to a level more. In accordance with' the shrinkage In other departments of Indus try, The chief obstacle to business re vival to-day-lie in high materials and wage. . '' The. stock market shows a great seal of surface strength.' A strong and higher market would greatly facilitate th ope rations wbloh our. big bankers now have In view.4 They have! deals of finance; stocks and bonds - to sell, and . these ob jects tan .be better accomplished In a. strong than In a weak market. Their In terests unquestionably lie' In the direction of higher prices Without doubt they are working to that end; and -It remains to be seen whether they will be able to find buyers for the securities, which they have or will have to distribute. : Easy money is ereatlv in their favor i so, too,. Is th prospective advance lit freight rates. The question; . however, ' -"Is: Has sufficient capital been accumulated to take care of the new Issues which are evidently forth eomlng.T Perhaps there has. In any vent there la little reason to anticipate lower prices Just now because the Worst has been passed; the panle is behind us; present tendencies ar towards recupera tion, and It Is to be hoped that In six to twtilve months from now the situation rill show treat improvement Crop pros pects are 'much better than a year sgo; springy began earlier and the advent of milder weather is an undoubted stimu lant, Stack market operatlona must, howeven be conducted with continued, caution; for should the support of the big letders be withdrawn there would no doubt be renewed pressure to sell. HENRY CLEWS. Charlotte Cotton. These figures represent price paid t wagon April 25th: .. . , rwid mlddllna.. .. U Strict middling.. ...... . Middling j... .,1 1.. li... W4 ; Charlotte Produce. fCorrfccted by'R.- 'H. Field coA- - Ruttr.. 10 13 Chlckena-Sprtng ...... .. 2 Pucks ' .. ....-. m..-... EKS... ' ... ... ... ... ... ! Oees per head ........ 40 P' Hens per Head w vw Turkeys pr pound U 1 ........ (Corrected dany by Cochraa-McLaugn-lln Co. . fty. . Corn W . Cotton sed - Osts .. " 60CTirEItX COTTOX MUX STOCKS Quotations by F. C. Abbott A Company ' . - .. April 9. Abbeville.. ..- r...C... 81 Aiken; Mfg. Co '. - 1 11S a American Spinning Co Am. Warehouse pfd. epray, N. C. w Anderson Mill.. .... .... Arcade.. .. .. 76 Arcadia..' .. . . ..... ... ' Arifltft.... .. . . . . . . a Arkwrlght Mills Arllnrtnn... ... ... i .. ... 165 101 -w- 1J3 M Atherton, N. C... .. .... Avon.... .. ...... ...... Avendale.. ...... .. .. .... Augusta, Ga. Tl 121 Helton .. .. Bibb... Bonnie...- .. .... .... 121 Brandon.. 120 Brogan Cotton Mills.. .. .... ' Brookslde.. .. 1M -' 161 US 125 . 16 . tt ;joo ; 101 Broomfield..... .. .. .. .... .. ' Cabarrus.. ;,. .. .... .... .... 115 Cannon Mfg Co.v ,. .. .... .. Capital City, pfd , Chadwlck-Hoaklns.. Chadwlctc-Moaklns, pfd. .. .. . Cherryville .. -.. .... .. cnesweii.-o. pro. .. . CheiwelL a. C. .. ... Olftrft 'rimif- l-asT "-:"VTr 12 Clinton.T.r"".. Clifton, com. aa .'.. 15S .... 107 .... 10J Clifton, pfd... .. Cllffslde.. ..... ... ... ....... ; 1W W. ia . .. 101 , U7 Chlquola Cotton Mills.. .. .. Courtney..., ,. ...... --...... Converse Mfg. Co.,. .. ... .t Cherokee Mfg. Co... ........ Columbus Mfg. Co..... ... .. .. uora.. ...... .... .. ...... ... 1U ; - . .105 -. 3V4 Cox..;..... .;. ...... .... Derllnaton.... - .... .. .. .. Dallas Mfg. Co., .. .... iJrayton.. , ., .... , onion .... . ... -: V - vl- .nil Xt,ftnlv . Eflrd. N. C... Elmlra, pfd... .... ...... ... ' 101 1M. Kdenton. N. C... .. ... Enoree.j... . EnoTee, pfd....,' Erwin..pfd.. Eureka. .j.,.... . ... . . . . ,100 10X . 4..... . . . Kxposnion . 78 Florence..'..'... p - 1 W . r ... - 1U0 ' .... aw: , . ' B ICaffney Mfg. Co. ... uasion 44t Qluck. U I en wood .. ...V 21V - I'iQ I. .v "' 9. ,.v ,.' ISO .165 , ...... r-; .....WllT'i-' ..;...'' ' i n ., MS -. , . i lot . .. ; li in Olen lowry. pfd..... Qrsnltevlle, 8. C... .. Gray Mfg., Co.... .... Qrendel. .. Greenwood..' . ...... Highland Park. .. r. Highland Park, pfd.. HartsvtU..' .... .. Henrietta Mills .. Inmsn Mills, S. C. John P., King Mfg Co'.. Keler.. . . . ... Ktrc'a Mountain pur 63... U Knox vl He cotton muia .... Lancaster Cotton Mill.. .. ..117 Lancaster Cotton MUla, pid.. A Ianett.... . .. -.. ... Lanaley Mfg. Co. .... M Xaurens. .. . . . . ... . y Ilpden, Tf. C.. ...... .... .. . Xjlerty.... Llrrtesone....... .. ; ...... "111 III ts Lorav Mills, via. :-H Lowell....- -., ..' . ... - .. v. -290 l.umlerton.... - ...... Msrlboro Cotton Mill ;.. ..' t' Mancheter Mills.... I. .., Mills Mfg. Co.. -.. .;..,... .... 1 Mill Mfg. Co.. pfd. .'... i. Modena Cotton Mills.. .. : Mollobon.. .. .. ....... .... .. Monnghan.. ......... . ... - Monarch .... .. .. .m '..... 100 iionarch, . C, pfd., . 111 111 m H if You Mean Business -1--I2"x36 Cooper Corliss Engine; V" flU'.'xZ6'? Bates Corliss Engine. " : ' ; ' ' : 1 14"x36" Lane & BcdleT Corliss Eneine.' ;1125 JI. P. Harrisbnrg Engine. , I7-22 ' 'x40 ' 'x48 "V Cooler . Cross Compound Corliss. -Lots of others. "Boilers of all kinds.' ; J CREEWSBORO SUPPLY CO. i J I v: GREENSBORO, , CARDS DRAWING MACHINE WORKS C O T T OTJ TJACHINERY TAUNTON, COMBERS ; UP MACHINES SOUTHERN OFFICE AT CHARLOTTE CDWIN -HOWARD. AGENT. Mooresvllle. N. C Newberry .. .-, . Nokomis.. ''.. m 130 7 101 151 143 100 Norrls Mills ........ .'" . Olympla Mills, pfd... ..... Orr , ... OWTk... ... Paoolet Mfg. Co.. Pacolet Mfg. Co., pfd. Pee De .. .. ,. Pelzer Mle. Co..:.. .. '.. f Piedmont Wagon Works Piedmont Wagon Works 100. Pell City, Ala.... .. . as 128 66 1M 12 Poe W. V- Mfg. Co Ui Richland, S. C. pfd.. .... .. Koanoke Mllis.... .. .... ...... Raleigh.. '.. ..... J Roberdel.... .." .. .i".. ....". Richmond Spinning Co.;..'.. Riverside Mfg. Co Rocky River.... ..' r- Saxon.. .. . .. Sibley. Ot...' ". 1 -Social Circle .. Rnrlnasteln.. .. W - Ul Statesvtlle Cotton Mills Salisbury s Trenton, N. Cv... .. .. Tryon, tf. C..-. 'is-i-. Tucapau, 8. C Tucaupau, 8,'C, pfd.... ltt 143 0 -100 Tuscarora.. Tococa. Oa 116 - 195 Toxaway n 19 12H 74 104 2 1U 110 t'nlon-Baffalo, 1st pfd. Union-Buffalo, 2d pfd. Vance ... Victor Mills. B. C.:. . Walhalla 9- C... .. .. Waren MJg. Co. pfd. Washington .Mills.. .. Washington Mill, pfd, Watts Woodslde ... Woodslde. pfd...i ... Williamson .. .... . Ware Shoals.. .. 10 106 109 106 108 Jl 125 135 Whitney.. . Wlscassett.. t444.4 V r.. INSURANCE STOCKS. Oreehsboro Life..' ... ...... .. North State .Fir.. .. 120 DtXltt tFlr6e'-e' -a J Piedmont Fire.s.. .. , 175 Boutheastern..., . ........ .. Southern Life..,. ,. 121 150 150 9 111 l'JO Scottish...,. .... . -BANK STOCK. Battery Park. Asheville 170 Cltlxens National, Gastonla.. Charlotte National Bank ...... 130 Commerlctl, Charlotte 154 110 13S 166 Cabarrus Saving Bank (par fim .... . 3 First National. Charlotte.. .. First National, Morganton First National, High Point'-'.. Merchants & Farmers' Char lotte , ' National Bank. Oaffney:. .. 170 140 161 160 Palmetto Bank and Trust Co 120 people' National, Winston .. American Trust. Company.. .. 1U 125 Southern Wan ft savings Bank. Charlotte 125 Wilmington-Savings - & Trust Company..: .. -.. ;..". '. : TOO Wachovia L. & T. Co..... .. 121 American National, Asheville 126 10S 160 Southern Nat' I, Washington BONDS. N. C. 6s. 1919 .... ..... N. C. U. 1919.... ... ...... N. C. 4s. 191S .. N. C R R. Stock.. .. .. City of Charlotte 6a, 1929.. City of Winston 5a. 1937.. ., City of Concord (a. 1937.. .. 120 121 ' 994 10114 100 148 152 IU2 1U4V i SKYSCRAPEJt AND PYRAMID. Comparison of tlte Amount of Ef tort Kequirwd to Build Tbetn. Engineering Magazine.' No one has been able to decide how the enormous stones In the Pyra mids were handled? for; even allowing for the vast army of men, some sort of mechanical contrivance must have been used. - On theory l that as each course of stone was laid, a sand embankment was 'built around it with long easy slopes, so that the stones for the next course could be pushed up on rollers and slide into place without any actual lifting, and so on, the pyramid being in fact burled aa fast as It was built, until the top was reached, when the stupendous Job ot removing the sand embankment was commenced. This might account- for the vast army of laborer used; for Instance, it 1 said that In building tne great pyra mid Of Cheope 100,000 men were em' ployed for eighty years, although the quarry from which the stone waa ob tained was only 1,000 feet from the pyramid."'' . " "-.' - " The- City' Investing Building, tho largest skyscraper la New Tork. hap pens to be nearly the same height a the pyramids. If we required 1 the same number of days labor for this building, which takes a year to erect, aathe Egyptians took, w would have thirty multiplied by 108.000. or 1,000. 000 men working every day for one year on this one building. , ' - imagine a numner or men equai ie almost the entire population (Includ ing men. women and chWdren) of New York City, trying to reach the cor ner of Broadway and Cortlandt street every morning. Even If they got there, there would remain the im possibility of finding standing room, let alone working room for them, or of providing a commissariat's or hy gienic department. Against this S.000.- ooo men working every day for one year, the avemsre number on the City Investing Building would not vxeeea 2.000 men a day, while the maximum wreuld preay"Bvr-aeh--?8 H8 GOT WIIAT.HB NEEDED. . "Nina year aao.lt looked . a if snv f1m bed come." says Mr.-C. Farthing, of Mill Creek, Ind. Ter.- I Was so run down thst life hung ton a Very slender thread. It ws then my dnigslet recom mended Klectric Bitter. I bouaht a c.j tle and I ant what I needed strencili. I bod one foot In th grave, but JUectrlc Bitters put It bark i.n th tnrf nrtn. and I've been well ev-r sine." under guaraat at aQ drug stores. lOe. - SPIKING CD I If CO moa. mil re RIULLO LOOKS AYDLETT-MEEKIxNS, AFFAIB FINALE TO THE CONTROVERSY Mr. Ardlett Adds a "Word or Two" to What lie Has Already Had to Say in IWereuic to "a Man Who Has Absolutely No Ilcgard For the Truth" He Kxhiblta a State ment From V. V. CalHion ait to HI (Aydlett's) Exclusion From the First Baptist Church of Elisa beth City at It August , Con ference. To the Editor of Th Observer: I have no desire to further tres pass upon your time and space, or the patience of the public, nor do I care to bandy words with a man who has absolutely no regard for the truth. A word or two Is all I wish to add to what I have already said. There Is no new matter in Mr. Meeklns" second article except his! claim to h a v recent statements made by the bank officials and th certificate of his attorneys, Mr. J. H. Sawyer and Mr. J. B. Leigh. He says that -the bank officials have recently mad statements to the effect that they do not claim and could not testify that he defrauded them, or attemped to defraud them. Mr. Meeklns shows his nerve, as well as his utter disregard for the truth, when he makes such a state ment In th newspaper, knowing it to be raise. If he had such stute menta, he would doubtless have pub Ushed them. The bank officials have made no such statements If they are to be believed. v rne certificate from Mr. sawyer and Mr. Leleh, to tho effect that they have "carefully investigated" the charges and find there la noth ing In them. Is remarkable. They cannot know -the facts, for no man who knows them can truthfully make such a statement. Of course. I do not know the exact scope of the Investigation which my learned friends, his counselors. have con ducted before giving him this certifi cate. I can say, however, that they have not been to me and have not seen any of the documentary proof which I have In my possession. Neither have they obtained their evidence from the Cltlxens' Bank. This, being true. I am forced to the conclusion that In their careful search for the truth their client. Mr. Meeklns, Is the only source from which they gathered their Informa tion. "Do men gather grapes of thorns, or figs of thistles?' When the , charge were filed against MjMeeklns Tefdre the Sen ate committee. I expected to be called upon to prove them before that tribunal, which Is recognised as a part of the most Intelligent body In the world. I -realised that It would weigh and discern the facts and intelligently, determine the issue. I knew It would require good and sufficient evidence to sustain them, and I was, and still stand, ready to meet that Issue and to produce th evidence to sustain the charges even to the - satisfaction of a ... doubting Thomas; Th columns of th news paper are not the proper tribunal to try this matter, but since Mr. Meeklns - saw - proper- to r take this course I felt It but right to make a frank statement to the public, which I have done. I shall not. a did he, tax the patience of your readers with a rehash. There was no occasion for Mr. Meeklns to drag the Church matter Into his trouble and thereby seek, to shield himself . by drawing tbe at tention of the public from the true Issue. Although unjustly treated by the First Baptist church. I have no de sire to Injure or harm it and no dis position to bring It into this contro versy. .The withdrawal of a hundred of It members, because of Ita action, and the many criticisms have caused It to suffer enough without this news paper notoriety. I waa tempted at the time of my exclusion to publish a statement of the facts, and the treatment I received.' but upon re flection was unwilling to do any thing which would Injure the church, for the upbuilding of whlcu I -had labored and sacrificed for twenty-Cv years. .. Mr. Meeklns cannot even tell the truth about the church proceeding, and seeks to mislead by publishing th resolutions with their many re citals, prepared for th occasion Just before, the August confernc3, by two or three who were unfriendly to me, -and - leave the Impression that I was excluded for them. -As to this I shall lt speak a prominent citizen of Elizabeth City, a member of the church, who served as dea con for eighteen or twenty years, has served as superintendent of the Sunday school and waa sheriff of Pasquotank county for six years, having been elected - over his op ponent when the. county was giving from six to seven hundred Re publican, majority, and he the only Democrat elected by the people in the county during the six years. - " - STATEMENT. . t . her of the First 'Baptist church of Elizabeth City for thirty-two years. After reading Mr. Meeklns article In The Charlotte Dally Observer, I feel that In Justice to both Mr. Ayd lett and th church a statement of facts concerning his exclusion from our church , at - h. August, con ference ought, to be made. I have known Mr. A yd left, and have been connected with him by MAIN Ol fccat OUTH TRY'OM T . CHARkOTTS. N. Oa Rtrolvlng Flat Crda, ' Railway Head,-r Drawlojr Frame, 5plnnlu Frames, Twisters and Spoolers QwUIcrs and ReeIsT Looms, '". ? ' COMBERS ETC.. ETC HUBBARD BROS. & CO nANOVER SQUARE, . NEW TORK MEMBERS OF New Tork Cotton Ex- Chang. New Orleans Cotton Ex change. ' Aasoclate Members Liver pool Cotton Exchange. ORDERS SOUCITED For the pur chase-aad sale of cotton for rutur delivery. : Correspondence Invited. MECKLENBURG IRON WORKS CHARLOTTE, N. 0. Motors, Dynamos, Alternating and Direct Current. Any size and voltage. Stock on hand. We ask for orders. church membership for twenty-five years In the First Baptist church of Elizabeth City. I want to say that during this entire time he has been an active, conscientious, pro gressive and faithful worker In his church; has been loyal to It and Its welfare; has made many sacrifices for it, and has given his best ef fort towards the advancement of Its interests. At all times he has had the confidence and esteem of not only the membership of our church but of those In this section . who know him. The matters set forth in the article published by Mr. Meeklns as to what occurred at the conference lrf Au gust, 1907, does Mr. Ayd lett an in justice. It Is true a member who was unfriendly to Mr. Aydlett filed before the board of deacons, some one or two months prior to the July conference, the charges recited in the preamble. The deacons took them . up .and -examined them., and filed their report at the July con ference, stating that ' there was nothing fn any of them except the one charging that Mr. Aydlett did not attend the revival meetings when the pastor was present and only at tended church services In the ab sence of th pastor. This was ac cepted at the July conference. After considerable hesitation a motion was made condemning the attitude of Mr. Aydlett as superintendent of the Sunday school, towards the church, because of. his non-attendance on the church services, and asking of htm an apology to the church. It was carried. - Mr. Aydlett made a statement to the conference giving his reasons for not hearing Mr. Vines, and asked that hit name be dropped from the roll. A motion was made to grant his request. After two ballots, each resulting in a tie, It was decided that the motion go over to the August conference. At the August conference Mr. Aydlett withdrew his request, and Mr. J. O. Gregory Immediately arose and read the long preamble which Mr. Meeklns printed. ' There was con. slderable excitement and In my opinion but few of the members of the church tpok In th meaning of what was read. There were present many members men, women snd children who did not usually at tend th conference A motion was made to adopt the resolution, and In the excitement of the mo ment It was adopted. About a hun dred members came out of the church because of Ita action, and there are many, like myself, wTio re mained, who dor not feel, there was Just cause for the exclusion of Mr. Aydlett. I am, and have always been, loyal to my church nd would sot make this statement if I did not believe that Justice . demands It. The trouble hsa been an unfortunate on far the church, and I sincerely regret that Mr. Meeklns saw proper to use It In connection with his quarrel, and In that way cause It publication In the newspaper. F, F. CAliOON'. If Mr. Meeklns gets any comfort out of the notoriety he has given to the action of the First Baptist church, ha would profit by Its troubles' and laugh at Its calamity. - - K. F. AYDLETT. April ttd. 1101. An improved lemon squceaer of the automatic typa is designed Tor use where the lemon ar to b handled In large number. It comprise knife for cutting, sqoeeser . and strainer. an Ur -trcrt ked by handle levrrr-Th fruit, being Inserted on -after the other, Is cut and thoroughly strained of Its Juice at one movement of the lever and the liquid ts delivered from a- spont after It has ben properly strained, while the lemon seeds are thrown out at another place. There la no handling of th fruit after drop ping in th hopper, and th pressure block art adjustable to handle lem ons of differing sites. ifrMl I Lll Ml ACHIlNIErM ! ENGINEER. AND CONTRACTOR. .Slubbers, ,' Roving- Frames ' -4, V,.- ----- ODCffl ' v - i.-: Intermediates, Jack Frame -; IP TOTJ HATE TEaLIrr 7?;rHI8 (fTTZI-lS4 If yoa hav houses or stores to rent, let m do your collecting and trouble and worry. ' . ' Th place to insure your property Is in this agency. . ?. E. Cochrane. Insurance ana Ileal Estata Agent. . THE LARGEST The largest single order or contract for Cement that haa ever j been placed in the South has been won by ua This sale wag f er approximately 500.000 Bags, amounting to approximately $S0. 000.00 In money, and wa made to Black & Laird, Ltd for the City of New Orleans. While this Is a very nice order Indeed, the grati fying part of it lies In the fact that, although there were bidders competing from all parts of th country. BOMB TEN OF WHICH BID FROM $10,000 TO $10,000 LESS THAN US. WE WON THE ORDER, as after testing our cement and investigating our responsi bility, it was found that WB NOT ONLY HAD THE QUALTTT WANTED, but' could "DELIVER THE GOODS." Carolina Portland Cement Comp'y CHARLESTON', 8. a I ARCHITECT vMliSl ;i I Law . Building, Charlotte, IT. C V ; Vfc " TjV" JAMES E. MITCHELL CO. COMMISSION Cotton Yams and Cotton Cloths. ,r CONSIGNMENTS SOLICITED Philadelphia, 133 and 184 Chestnut St. Boston, 1S5 Summer St. New York, No. 73 Leonard fit. Charlotte, 35 8. Tryon St. Didn't have time to write ad as Fan Sea son is here. We are selling" the Best aiTreas onable prices. The R. G Auten Co 303 8. Tryon and E. Fourth St. 'Phone 1307 and 10. : t Leonard L - Hunter and Franklin Gordon AECmTEOTS Law Building, Charlotte, Jf . C No Sit and 313. Toon 373. FRANK P. MILBURN & CO. ARCHITECTS . WASHINGTON, D. C A. D. SALKELD & DEO., COMMISSION MERCHANTS 3-73 Lonard Street, NEW TORS. COTTON TARNS ' ' ? DEPT.' FredTc Vietor is . Achelis. EO OK" AND EOQERS AECiUTKCTS CI1ARLOTTE, If. a aaAMCN oasiec,: '- ' . 'feOUITAaLI BUILOIsia' '' ;Y"v ATLANTA. OA Automatic Feeders w- x 'Openers and Trunk, , Jpreaker; Intermediate and . Finisher Lappers,, ' Kifschner Carding Beaters Thread Extractor, 7 " Waste Pickers,' eta. , . Raw Stock Drcra. .'. ETC- ETC. i SALE Of Hardwood Mantels Wa maaafactura and carry a )arg stock of Hardwood Mantals; also dlr In Til aad Orate - C nil orders promptly. Writ far tat legu J.H. WEABN&CO, j Charlotte, X. a 'J College Annuals and Catalogues Let a furnish yon wifa semsthlng nw in th Col lege Anna! line this year. With oar new quIpmat trpe, presses, to., w ar fully prepared to giv yo - something entirely different from that which yon hav heretofore bn ualng. XX yea want something spacfe ally attractive, th OBSERVER PRINTING HOUSE :t4. j; - . - Ctt&XUTTXX- X, O, - Manufacturers and -Jobbers ... rteqaeauiy aad It necessary to hava banking facilities in ad dUlod to thosa oderea by local baaka, . j- :. - xy TUB ' ' : first : Nation:! B::!i 1 OF lOlMOMJ. VUIGLM4 - ; Wit'- '..' -lJO0.vOO.BP Csi.pMalj.' Earned tiorpiea. aio,0OO.O . $5.SOU.OOO.ttt Peposila JS.OUO, OOO.aU Total lieoocre Uder Jat the AuUivioti i . dlttlea Iteuulred. Jbo. U- furtvll, rrest ' r ; jBx I. MUJ. Jr Vkwl rr-i. dent) Clas. 1U Horncttt. A. infant Cashier; J. C Jura, a. Aasaot t , Km - v. ' (H MERCHANTS I LJM2Ss Jnn V It
The Charlotte Observer (Charlotte, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
April 27, 1908, edition 1
9
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