The News and Observer VOL. XXXYIII. NO. 105. TGOE LftGS®E@T ©OffBSIUILMTOK] .MSY GSI®OBTDD ©/ftMOJSM [MOOT. IN BEHALF OF GOLD —..-u > »r w .* MEH riNG OF THE SOUND MON ET AT MEMPHIS YESTERDAY. ■ ■ ■* •«•*'*» SECRETARY CARLISLES SPEECH. Say* That the Proposition to Revolu , tioiiie the Monetary System of the ftCoantry Will Prove Most Injurious * to theJMaterial Interests of the Peo n'll le ol the South—Reviews our Mone tary System—Meaning of 16 to 1— (tCheap Money and Payment of Debts, Tenn., May 23. —Under a banner with the inscription “Sound Currency and Better Banking Facilities" between seven and eight hundred re presentative men of the Southern States assembled at the Auditorium this after noon to express their opposition to the doctrine of the free and unlimited coin age of silver and to declare in favor of the continuance of present monetary conditions. The delegates began to assemble at the Auditorium shortly after 1 o’clock. When Chairman Crawford, of the local committee, officially assumed the gavel at 2 o’clock there were six hundred and twenty delegates on the floor and fifteen hundred spectators in the seats in the galleries. Congressman Catehings, of Mississ ippi, was selected as permanent chair man. On being escorted to the chair he gracefully acknowledged the honor. The selection of a committee on reso lutions was next in order. There was no response when the States of West Virginia and North Carolina were called. Just as the committee had been com pleted the tall form of Secretary Carlisle emerged from the stage. In an instant delegates and spectators, women and men, were on their feet and a mighty shout went up. The ovation continued for several mo ments. Silence having been with diffi culty restored, Mr. Carlisle began his speech, the delivery of which occupied precisely one and a half hours. He spoke with unwonted energy and made few references to his notes. Mr. Carlisle’s Speech. Mr. President and Oentlemm of the Convention: 1 congratulate myself upon my good fortune in having the opportunity to ap pear before this large assemblage of Southern business men, and I congratu • late the people of the South upon their good fortune in being able to send here so many real representatives of their great industrial and commercial interests. It has frequently been my privilege to address commercial and financial organ izations in other parts of the country, but nowhere have I met a greater num ber of earnest and intelligent gentlemen than I see before me to-day. lam sure that nothing less than a full appreciation of the vast importance of the questions to be considered could have secured the attendance of so large a number of ac tive business men upon this occasion, and the fact that they have voluntarily abandoned their usual avocations to par ticipate in the proceedings of this con vention encourages me to believe that their efforts in behalf of a sound finan cial policy will not cease when it has ad journed. Effect of Free Coinage on the South. Mr. President, I do not think the im portance of the questions you are called to consider can be overestimated, or that the gravity of the situation can be over stated. The proposition to revolutionize our monetary system and thus destroy the credit of the government and the people at home and abroad, violate the obligations of all contracts, unsettle all exchangeable values, reduce the wages of labor, expel capital from our country, and seriously obstruct the trade of our people among themselves and with the peoples of other countries, is one which challenges the intelligence, patriotism, and commercial honor of every man to whom it is addressed. No matter what may be the real purposes and motives of those who make the proposition to legal ize the free and unlimited coinage of silver at the ratio of 16 to 1, these are the consequences involved in their scheme, and, in my opinion, they can not be avoided if it should be adopted. In no part of the country will the con sequences of such a policy prove more injurious to the material interests of the people than in the undeveloped and pro gressive South. When the great civil war closed, your industrial system was destroyed, your commercial relations were all broken up, your currency was worthless, your farms were devastated, your mines were closed, your forests were untouched, your water power was useless, and your railways were unsafe and inadequate, even for the limited ser vice they had to perform: but your great natural resources were still unimpaired, and upon that foundation you have con structed, and are still constructing, a system of diversified industries and inter state and international commerce which, if not disturbed by unwise experiments in financial legislation, must attract to your section of the country all the active capital and skilled labor necessary to make it the most prosperous part of the continent. Your magnificent deposits of coal and iron, ycur fertile soil, adap ted to the growth of cotton, sugar, and many other products which no other part of the country will yield, your un rivalled facilities for the manufacture of iron and steel, cotton goods, lumber, oil, furniture, and almost innumerable other articles which can be cheaply produced from the raw materials within your lim its, constitute the elements of a marvel lous growth and prosperity which noth ing can prevent if the people of the South will continue to exhibit in the fu ture the same spirit of conservatism and the same devotion to principle that have always characterized them in the past. The world has never witnessed a grander exhibition of courage and fortitude than was presented here when ,a defeated and impoverished people, without money or credit, and almost destitute of the tools and implements necessary to the per lormance of manual labor, went uncom plainingly to work to re-establish their social order, renew their commercial re lations, and reconstruct their industrial system; and lam unwilling to believe that the same people can now be so dis couraged by a temporary business de pression, or so moved by appeals to their prejudices, that they will hastily resort to new and hazardous experiments with the currency in which all their transac tions must be conducted. I do not charge that our fellow-citizens who propose to revolutionize our mone tary system by a sudden change in the standard of value really desire to see the business of the country ruined, or even injured, or that they believe any injuri ous consequences would folio >v the adop tion of their policy, but, in my judg ment, the results would be most disas trous to the material interests of all the people in every part of the country, and, therefore, I shall appeal to them care fully to review the grounds upon which their opinions have been formed before it is too late to correct a possible mistake upon a subject of such supreme import ance to themselves and to their posterity. It is not necessary to impeach their mo tives in order to answer their arguments, nor would it be wise or proper to under estimate the intellectual and material forces behind this great popular move ment in the South and West, a move ment which now seriously threatens to disrupt existing political organizations and reform party lines; but, no matter what may be the motives or the present numerical strength of our opponents in this controversy, the merits of the jxfiiey they propose to inaugurate must be subjected to the tests of reason and experience, and if it is shown to be im practicable, or fundamentally wrong in principle, we may be confident that it will not finally command the support of a majority of our people. History ol Gold and Silver as Money. Before proceeding to the discussion of the main question presented, it may be ad vantageous to state as briefly as possible a few admitted or well established facts having an important bearing upon it. From the earliest times gold and silver have been used as money, not because there was at the beginning any law de claring them to be money, but because, by reason of their limited and regular supply, their great value as compared with other things in proportion to weight and bulk and their durability, they were more stable and convenient than any other commodity as measures of value in making exchanges. Consequently, these metals were used as money by common consent of the people for centuries before there was aDy law upon the subject or any coins in existence; they passed by weight, and their values in effecting ex changes were determined by the quanti ty of pure metal contained in each piece. Each metal bad, a distinct value of its own, and when it was used in trade neither the buyer nor seller troubled himself about the ratio between it and the other metal. The laws of trade fixed and regulated the actual aud rel ative values of both metals in the pur chase and sale of other commodities, just as they do now. They had been used as money several centuries before any government undertook, by royal proclamation or statute law, to es tablish a ratio between them, and, when this character of legislation was first begun, the public authorities did not attempt to estabbsh new values or new ratios, but accepted those already fixed by the laws of trade and the cus tom of merchants. Coins were made, not for the purpose of attempting to add anything to the intrinsic or exchange able value of tbe metal contained m them, but for the purpose of atte sting, by public authority, its weight and purity, thus avoiding the delay and uncertainty resulting from the practice of weighing each piece as it passed from one to another. That the coinage of the metals does not now add anything to their actual value in the commercial world, is conclusively proved by the facts that, in all the great transactions between the people of different countries, the coins are accepted only at their bul lion value, determined by their actual wejght and fineness, and that bullion itself is still us d in making paymenis, just as it was thohsands of years ago. Whatever effect legislation upon the ratios, in connection with legel-tender laws, may have had upon the use of the two metals in the payment of antece dent debts, it has never had the slightest effect updn the actual or relative values of the two metals in national or inter national trade. For many centuries, even after the commerce of the world had grown to enormous proportions, the propriety of making any given quantity of bullion, or any particular coin, a legal tender was not even suggested, and up to the present time there is no legal tender in international trade. Whether payments are made in gold or silver coins, or in gold or silver bullion, actual intrinsic value determines the amount or quantity to be delivered, no matter what may be the legal tender laws of the dif ferent countries, and no matter though they may have the same or different ratios of value between the metals within their respective limits. Tbe law of France, for instance, places a higher value upon silver relatively to gold than RALEIGH. N. C., FRIDAY. MAY 24. 1895. is placed upon it by the laws of the United States, the French ratio being 15 1 2 to 1, and ours being 16 to 1; but if 16 pounds of our silver, coined or uncoined, were sent to that country to be used in the payment of a dubt or in the purchase of commodities, it would not be accepted at the ratio of 15 1 2 to 1, or at the ratio of 16 to 1 as compared to gold, but only at the ratio of about 32 to 1, which shows that neither our ratio nor the French ratio has any effect whatever upon the value or purchasing power of the metal itself. Coinage is free in Mexico, and the dollar, which is full legal tender, contains 377.1? grains of pure silver, while our dollar contains only 371.25 grains of pure silver; yet Mexican silver dollars are sent into the United States and other parts of the world and sold at the price of the bullion contained in them, which is about one half their nominal or legal value in their own country. The legal tender laws affect the debt paying power of the coin itself in the country where the laws pre vail, but the laws* establishing ratio do not affset the value of the metal con tained in the coins either at home or abroad, because it is the metal that fixes the value of the coin, and not the coin that fixes the value of the metal. For a long time, during the early his tory of the world, and even during the mediaeval age, gold and silver, in bul lion or in the form of coins, constituted almost the entire circulation among the people, even in the nations most advanc ed in trade and civilization, and, conse quently, the quantity of these metals that could be procured and kept in use was a question of far greater importance then than it is now or ever can lie in the future. When life and property had been made reasonably secure by the es tablishmer 1 -of stable governments, aud regular processes were authorized for the enforcement of pecuniary obliga tions, credit or confidence largely took the places of bullion and coin in the commercial transactions of the people, and a much smaller amount of metallic money was required in proportion to the whole volume of business done than had been required before. The nse of credit in the form of bank note 0 , checks, bills, and other evidences of debt has so in creased in modern times that in all highly organized commercial communi ties tne use of coin, except in making change, has been almost entirely dis pensed with. The percentage of coin actively employed in conducting busi ness in this country is so small that it is almost inappreciable; so small, in fact, that its disuse in our transactions would not be felt if we had a substitute for, or a paper representative of, the subsidiary pieces. In England, France, and some other countries, a larger amount of coin is used, because they have no very small notes. Financial Condition of the Country’. Although we have the gold standard, or measure of value, in this country, our actual stock of gold bullion and coin amounts to only about one-third of our actual currency—a condition of affairs which would have been inconceivable a few centuries ago. We have about $825,000,000 in gold, $397,652,873 in full legal tender silver, $346,681,000 in old United States notes, $149,584,471 in Treasury notes issued in the purchase of silver bullion, $209,719,850 in national bank notes, and $76,169,569 in subsi diary silver coin, making in all $1,804,- 707,763, exclusive of the minor coins, and every dollar of this vast volume of currency is kept equal in value to the standard established by law, so that every man who receives a silver dollar or paper dollar in exchange for his products, or in satisfaction of a debt, gets just as good a dol lar as the man who receives gold. This is the monetary system and this is the financial condition which the advo cates of free coinage Jat the ratio of 16 to 1 now propose to revolutionize at once by a change in the standard of value, so that the whole mass of circulation lei t for the use of the people would be re duced to about one-half the purchasing power it has now; or, iD other words, so that it would require about double the amount of currency that is required now to perform the same service Id the ex change of commodities. But the con summation of such a policy would pro duce results more far reaching and dis astrous than the mere reduction of the standard of value, because, for a long time, at least, credit, which constitutes by tar the most important factor in our financial and commercial transactions, would be substantially destroyed by the confusion and uncertainty necessarily following such a great and sudden change in our monetary system. A Doable Standard Impossible. But it is contended by a large number of the advocates of free coinage—per haps a majority of them-that the effect of their policy would be, not to abolish the present standard of value and sub stitute the single silver standard in its place, but that it would establish what they call bimetallism and a double stand ard. I confess my inability to under stand what is really meant by a double standard or measure of value; the idea is incomprehensible to my mind, because l cannot conceive how it is possible to have two different legal aDd autborita tive measures of the same thing in use at the same time, as, for instance, a pound weighing sixteen ounces and a pound weighing eight ounces, or only half as much, and both declared by law to be legal pounds. I agree entirely with Gen. Jackson’s Sec retary of the Treasury, who said, “The proposition that there can be but one standard in fact is self-evident.” The proposition to establish aud maintain two different measures of value to be in use at the same time, and to be applied to the same things at the same time, em bodies a physical and metaphysical ab surdity, and this is so evident that the ablest thinkers and writers upon the sub ject have been at last forced to abandon it. Prof. Francis A. Walker, one of the most distinguished bimett alists in the United States or in the world, in a care fully prepared paper recently published, says: “But one thing m >re remains to be said in this connection; that is, in reply to the allegation of the monometallist writers that the course of events in France which has been recited did not constitute a genuine ease of bimetallism. If these writers may be permitted to im pose their own definition upon us, their contention can to a considerable extent be made good. What they say is, that France from 1803 to 1873 did not enjoy the concurrent circulation of the two metals, but only an alternate circula tion, now of one and now of the other; and this, they declare, is not bimetallism at all. Therefore, according to their view, there is no great historical in stance of the success of bimetallism. “If, oh the other hand, we may be per mitted for ourselves to say what we mean and propose by bimetallism, the criticism in question does not touch our case at all. We flatly deny that bimet allism necessarily involves the concur rent circulation of the two metal 3. There is some reason to believe that the French statesmen of 1803 really expected that coneurreut circulation would result; but no bimetallist nowadays makes the con current circulation of the two metals in the same country a necessity of that sys tern. If it results only in establishing an alternating circulation, the chief re suits of bimetallism will still be achieve I, as they were by the action of France.’’ This is intelligible, for we can all un derstand how it is possible to have an alternating standard and circulation, sometimes gold and sometimes silver, and the monetary history of the world proves that this is just what happens when the two metals are freely coined in any country and made full legal ten der. Values will always be measured by the kind of money in actual circula tion, no matter what the law may de clare, aud, therefore, if the free and un limited coinage of silver at the ratio of 16 to 1 should drive out gold and sub -1 stitute silver and paper redeemable in ! silver in its place, we should have a single silver standard and actual silver monometallism. Instead of using both gold aud silver as we do new in larger amounts than ever before in our history, we should instantly expel the more valu able metal from the country’ and make the other the sole basis of our currency. We ha*e now practical bimet dlistp —the use of both metals as money; we should have then practical monometallism— the use of only one metal as money. This is neither speculation nor prophecy, ' but only a conclusion based on facts es tabiished by the experience of all na ‘ tions in all ages. What 16 to I Really Means. In order to eliminate all irrelevant matter and simplify the argument, al low me to state exactly what the propo sition now pending before the people is: It is proposed that the United States, without the co-operation or assistance of any other government, shall provide by law that all the bullion, or foreign silver coins, that may be presented at [ the mints by individuals or corporations, foreign or domestic, shall be coined, at the public expense, into silver dollars, at the ratio of 16 to 1 with gold—that is, tin* sixteen pounds of silver shall be considered equal in value to one pound of gold*arid the weights of the coins shall be adjusted accordingly—and that the coins so made at the public expense shall be delivered to the owners of the bullion, or foreign silver coins, as the case may be, and all the people of the United States, but nobody else, shall be compelled by law to receive them as dollars of full value, in the payment of debts due to them from their own fellow citizens and from the citizens or subjects of other countries. It is not proposed that the citizens or subjects of other countries, with whom our people trade, shall be compelled to receive these silver dollars in their transactions with us, because that, can be done only by international agreement, and our impatient free-coin age friends declare their determination to proceed at once independently of all other governments. All who are indebt ed to us are, therefore, to have the privi lege of paying in silver, while all to whom we shall become indebted are to have the privilege ot requiring us to pay in gold. Measured by their purchasing power in the marxets of the world, which is the only real test, the relative value of silver bullion to gold bullion is about 32 to 1; that is, it requires in all countries, silver-standard countries as well as gold standard countries, about 32 pounds of silver bullion to procure the same quan tity of commodities that one pound of gold bullion will procure, and, therefore, the proposition to authorize the free and unlimited coinage of silver into full legal-tender money at the ratio of 16 to 1 means, under existing conditions, that the intrinsic value of the silver dollar shall only behalf, or about half, the intrinsic value of the gold dol lar. My own opiuion is that after we had passed a certain limit the more sil ver dollars we coined the less they would be worth, because the inflation itself would still futher dimmish their pur chasing power. Such legislation by the United States alone would not reduce the value of the gold dollar to any extent whatever, because, as already stated, the value of that metal in commercial trans actions all over the world is estimated according to its weight and fineness, and will continue to be so estimated, and (CONTINUED ON SECOND PAGE ) STATE NORMALSCHOOL PROF. BUTLER SPEAKS ON THE GRAVE PROBLEMSCONFRONT ING THE PEOPLE. THE PRESENTATION OF DIPLOMAS. State Super interi dent Scarborough’s Opening Address—Chief Justice Faireloth Presents a Copy of the Constitution, and Rev. Dr. Carter a Copy of the Bible to Each Member of the Graduating Class--President Mclrer’s Speech to the Class. Special to the News and Observer. Greensboro, N. C., May 23. The exercises of to-day were in no particular inferior to those of yesterday. Those who went to hear something that will instruct, uplift and bring mankind nearer to perfection, were not disap pointed in the splendid address by that learned young man, Dr. Murray Butler, of Columbia College. The exercises of the morning were opened with a song by the school. State Superintended Scarborough introduced the orator of the day in a short and ap propriate talk, telling something about the improvements in our own State in the line of education, referring to the recent act of the Legislature crippling the schools as a “turning back or the hands." He then paid a high tribute to the learning, ability and worth of the speaker whom he was introducing. The speaker began his able discourse with a reference to the grave problems I and dangers that confront the people of j the United States. No country having a Republican form of government has so long held together without serious trou ble, and we should not think ourselves secure. Something is necessary to pre vent the people from revolt and anarchy. Here Butler referred to the time when Prussia was over-thrown, and it was predicted that this proud nation would sink into oblivion, but in humble and dimly lighted rooms all over the land, the voice of the faithful school master was heard, and from an humble beginning have arisen the most magnifi cent universities in the world; so in this country, if we wish to continue to be a great nation and avoid the dangers that threaten us on every side, we must edu cate, not only the mind, but the charac ter of our people. As Dr. Butler had no manuscript or notes your, correspondent is unable to I give even a ! n attempt at a report of this : excellent speech. So pleased were the audience with the splendid treat that it only needed the suggestion of Major Finger that we “pass a rising vote of : thanks to our distinguished visitor," ever> person in the vast audience arising simultaneously. At the close of this address the treble | cleff rendered delightfully the cuckoo song but it was not the practical cuckoo. Diplomas of proficiency in stenography and typewriting were presented to those young women who had reached a speed of eighty words to the minute. One young lady Miss Harriet Hammond, of Mecklenburg, having reached a speed of 120 words per minute, and Miss Buie, of Robeson a speed of 136. Dr. Cbas. Mclver presented the diplo mas to the graduating class and made a feeling speech of several minutes. He referred to the first day of the arrival of the members of the class, of their hard ships at first owing to the incomplete condition of the buildings, he said that not one of the class had ever given him a moment’s trouble or anxiety. He told them that in the future they would receive a warm welcome cn their return to their old alma mater. He gave them excellent advice as to how they should conduct themselves in after life, closing with warm words of good wishes to all. Chief Justice Faireloth made the speech on presenting the class with a copy each of the Constitution, and Dr. J. W. Carter, of Raleigh, presented the Bibles, both making very sensible talks. After a song by the school the au dience was dismissed by Rev. Dr. Car ter, of Raleigh, and the third annual commencement of the Normal and In dustrial School was a thing of the past. The Alumme Association of the Nor mal and Industrial College elected the following officers: Miss Rachel Brown, of Newbern, president; Miss Zella McCulloch, vice-president; Miss Mary Applewhite, of Scotland Neck, secre tary. Mr. and Mrs. Josephus Daniels, of Raleigh, have given one hundred dollars to be used as a loan fund to young wo men who are unable to pay their ex penses in the Industrial and Normal School, to be loaned by President Mclver. It will be known as the Adelaide Worth Daniels fund in memory of their little girl who died two years ago. Virginia Elections Yesterday. Richmond, Va., May 23.— Elections for town and county officers were had throughout the State today. Re turns are coming in very slowly. There was a light vote as a rule and in many instances party lines were not sharply drawn. The indications at mid night are that the Democrats have about held their own. The Lenoir Topic says that there is con siderable complaint in regard to the apple crop. Bome trees which gave prom ise of bearing a large yield have no apples on them. The same may be said of the peach crop, but the Topic thinks there will be a fair crop after all. The frost damaged the fruit crop very little. PRICE FIVE CENTS. THE WEARERS OF THE GREY. Convention ol Confederate Veterans at Houston Yesterday. Houston, Texas, May 23.— The weather continues inclement and dark gray clouds lowered over the city and a nhilly rawness pervaded the atmosphere, but the joy and enthusiam of the veterans continues unabated and when Gen eral b Gordon cslled the Conven tion to order at 10 o’clock this morning the auditorium was again full to overflowing. The meeting was much more ordorly to-day than yesterday, how ever, and the business of the meeting was conducted more satisfactorily. Chap lain General J. William Jones invoked divine blessing on the deliberations of the meeting. In was understood that Mrs. Chapman T., the daughter of Gen. Leonidas Polk, was in the audience and the chairman asked that she come to the stage if sh» were present. She did not respond, however, and it was announced that she would be expected on the stage whenever she reached the hall. A similar invita tion was extended the daughter of Gen eral D. H. Hill and Mrs. J. D. Peahill. Gen. S. D. Lee, of the committee on constitution reported that they had unan imously agreed on a constitution. They have fully accepted the old con stitution formulated at Jackson. This constitution continues in force the com mittee on history which the Birmingham constitution dissolved. The principal amendment to define the duties of offi cers and instead of only two depart ments east of the Mississippi and trans , Mississippi there shall be three depart ments as follows: The department of the Army of Vir ginia, composed of the States of Virginia, Maryland, North and South Carolina and Kentucky. The department of the Army of Tennessee, composed of the States of Georgia, Alabama, Tennessee, Missis sippi, Louisiana and Florida. The trans- Mississippi department, composed of all of the States and Territories west of the Mississippi except Louisiana. There was a movement on foot to fix the same memorial day for all States, but the new constitution provides that each camp may fix its own. The constitution was then adopted amid loud applause. The report of the committee on credentials was then read in full. The number of delegates was shown to be as follows: Louisiana, 176; Tennes see, 89; Florida, 36; Alabama, 191; Mis sissippi, 123; Texas, 654; South Caro lina, 86; Indian Territory, 15; Missouri, 67; Kentucky, 67; Arkansas, 57; Wash ington, I). C., 11; Evansville, Ind., 2; Virginia, 64; North Carolina, 21; Geor gia, 76: Maryland, 2; Oklahoma, 2; West Virginia, 2; New York, 1. With some subsequeut names the number of voting delegates was 1,502. The report was adopted. The special order of the morning was the report of the Jefferson Davis Monu ment Committee. Chairman Cabell in troduced Chairman Taylor Ellyson, of the Richmond Committee, whose report was made a part of that of the commit tee from tne United Confederate Veter ans. Mr. Ellyson stated that on June 3rd {next, Davis’ birthday, a collec tion for the monument would be taken all over the South, and the present prospects were that at that time there would be a generous response from all the Southern States. When suffi cient funds were raised the corner stone of the monument would be laid at Rich mond. It was thought that this could be done next spring, and it was hoped to make it a great occasion. Gen. Cabell then followed in an earn est appeal to the veterans to respond on the appointed day to the call for a col lection. In seconding the motion to adopt the report Chaplain J. William Jones delivered a brief but eloquent ad dress on the subject which was greeted with applause. An elaborate reception was tendered Miss Winnie Davis at the Capitol Hotel by Mrs. W. M. Rice between the hours of 11 and 12. Gen. Ross and staff called officially on General Gordon and staff at the Hutchin’s House. A recep tion was tendered the visiting Generals at the Light Guards’ armoiy from 12 till 2 o’clock to day, and a reception was tendered the visiting ladies at the Capi tol Hotel and Hutchins House by the Ladies Reception Committee of Houston from 10 to 12. The vote was taten to decide the next place of meeting, as follows: Richmond 780, Charleston 444, Atlanta 208, Kan sas City 40. Major Barker moved that the vote for Richmond be made unanimous. It was seconded bv Gen. Evans and carried amid applause. Gen. Wise expressed thanks in behalf of Richmond. The Convention then adjourned till 10 c‘clock to-morrow. DEATH OF MRS. J. W. FRY. She Was One of Greensboro’s Most Popular and Lovable Women. Special to the News and Observer. Greensboro, N. C., May 23. Greensboro was greatly saddened this morning to learn of the death of one of our rncst lovable and popular women, Mrs. J. W. Fry, wife of the General Manager ot the Cape Fear and Yadkin Valley Railway. Mrs. Fry was a daugh ter of the late Julius Gray, and a sister of Mrs. Dr. Hodges, of the Medical Col lege of Virginia, and Mrs. Geo. C. Heck, of Raleigh, N. 0., and Mr. Percy Gray, of this city. The deceased leaves three bright chil dren to mourn their loss. Mrs. Fry had been troubled with her lungs for over a pear.