Newspapers / The News & Observer … / Dec. 21, 1901, edition 1 / Page 2
Part of The News & Observer (Raleigh, N.C.) / About this page
This page has errors
The date, title, or page description is wrong
This page has harmful content
This page contains sensitive or offensive material
2 WEAKNESS OF OUR If BANKING SYSTEM Gage Addresses New York Financiers. FAVORS A CENTRAL BANK Banking System Analogous to Our , Political System. SCARCE CREDIT IS NOT SCARCE MONEY The Secretary Says the Ncmerclature of the “Street” Should be Changed, Credit, Not Money, Being Quoted at so Much Per Cent. (By the Assocated Press.) New York. Dec. 19.—Secretary of the Treasury Lyman J. Gage was the guest of ■honor and the principal speaker at (he annual banquet of Group Eight of the New York State Bankers’ Assooation, held tonight at the Waldorf-Astoria. Nearly #ive hundred members of the association and their gyests were present. George F. Baker, president of the First Na tional Bank, acted as toast master. 'Secretary Gage said in part: “In ray late report to Congress, I took occasion to call attention to the subject of banking and. currency, to point out what I believe to be defects in both anrtf to suggest some improvements in each which I believe are absolutely necessary in order to put us into safe and strong competitive relations with those bettor equipped than we are in that system of machinery by which credit is made as useful as capital, and by which the pro ducts of human industry are exchanged for each other. “I explained the function the bank per forms as an intermediary through which 'credit is made available to the lines of production and industry and thus given a power scarcely less great than the power of capital itself. An effort was i made to show that the bank is an insti- I tution to ’swap’ its credit for the credit ' of other members of the community, I which, except for the office of the bank j would be non-available . for the uses of life; and, in passing this point, let me j repeat a suggestion made a day 01 two i since by a gentleman who said the nomen- | olsture of the street ought to be changed. J ‘We read all the time,’ he said, ‘of the j rates for money. Today money is quoted at 2 per cent; tomorrow three; and next, j day 6; to be followed perhaps by a rate j as high as tdn or twelve; and people bo- j come alarmed aboul the scarcity of money i as indicated by these high- rates, when ! substantially there has beer, no change J in the volume of money. What ought to be quoted is not money but credit.’ '•The weakness of our banking sys tem is in the isolation and entire sepa rateness of the individual banks over the country. I venture to suggest a system of coalition between individual members of the banking community through the country into one central institution, with convenient branches in tin* larger cities, in which all banks should be related or j interested according to their individual relative importance, and which in a cer tain sense should represent to the bank ing interests of the country what the Federal Government represents in our political systm.” The Secretary urged that there be a reform of the currency system of the nation along the lines outlined in his re port to Congress and declared that no time was more favorable than tho pres ent for the judicious revision of the lav. -'. ! He told of the reduction of the Interest j charged on the national debt and com- | mentlng upon it. said: “The cash under the control 6f tile j government is larger than at any previous j time its its history. The financial strength of the Government is now unsurpassed. But times changes, event succeeds event. Hud the brightness of Hie sun today is often obscured by the clouds- that arise tomorrow. In periods of strength and prosperity it is the part of wisdom to make nrovision against possible future ‘ periods of stress and strain.’’ ! ;’« } tit: : } i“ti 1 3 ' liust. tßy the Associated Press.) • Jackson. Miss., Dec. 19. —The ;mtion of Attorney General McClurg'iti dismiss ing the anti-trust proceedings against ♦he insurance companies operating in Mississippi effectually brings to an mul all anti-trust litigation pending >n the State court and renders it clear that there will be no further prosecutions un der the Cox law passed at the last ses sion of the legislature unless some at tempt is made to amend the measure, so hr to render prosecutions more effectual. The prosecution of the company was in stituted during the administration of At torney General Nash and has never pro gressed further than the demurrer stage. There were 31 companies in the original quo warranto declaration, embracing all having membership in the Southeastern Tariff Allocation. Cbatged With Opening Mails. (By the Associated Press.) Bristol, Tenn., Dec. 19.—Herbert Alat ney, assistant postmaster at Wytheville, Va.. was arrested today by a postoffice detective, charged with opening mails. It is charged that Matney used this money. He whs released on $5,000 bond. What are Huntors? They are vitiated or morbid fluids eours* htg the veins and affecting the tissues. They are commonly due to defective diges tion but are sometimes inherited. How do they manifest themselves ? In many forms of cutaneous eruption, salt rheum or eczema, pimples and boils, and i:i weakness, languor, general debility. Uow arc they expelled ? P.y Hood’s Sarsaparilla which also builds up the system that has suffered from them. it is the best medicine for all humors. LtMltY AND HANNA SUB Ml f A RtPORT. (Continued from First Page.) jected whole of The testimony offered oon behalt of the applicant, and have not adverted to such testimony, and have en tirely ignored the testimony of the ap plicant himself.” The court adjourned on the 7th of November last. Since that date its mem bers have been, with rare exceptions, in daily session, morning and afternoon ex amining the evidence before them. It was their sworn duty to consider, and weigh that evidence, and the applicant and his counsel have no right to say that they have disregarded it. But it is particularly urged in para graphs 24 to 27, and elsewhere in the objection, that the testimony of the appli cant himself has been ignored. Wo con tend that the testimony of the applicant alone establishes the important fr-ers generally of dilatoriness, vacillation'and want of energy at. Cienfuegos, and throughout the entire campaign; the par-, Oculars of the retrograde movements; the disobedience of orders; of the inaccu rate and misleading official reports; neg lect and failure to destroy the Colon;/ injustice to Lieutenant Commander Hortg j son; and some minor matters. The feet/s, of these points were all substantially confirmed by the applicant's own testi mony; so that, far from ignoring suciv testimony, the court may have based its., most important finding thereon. But the court has a perfect right after weighing it, to ignore any testimony. Neither the applicant, his counsel, nor the Judge Advocate is to say what tes timony it shall accept, and what it shah reject. These matters may be argued, but their final determination is the prov ince of the court. It happened in the present inquiry that the applicant while on the sand contra dicted in whole or in part, directly or in directly, testimony given my a majority of the witnesses. Byway ol' particular il lustration, Commodore Schley gave tes timony at with that of the fol lowing witnesses:, Rear Admirals Cotton, Evans anil Tay lor; Captains Sigsbee, McCalla. Cook, Folger and Chadwick; Commanders Ro 1- gers, Wainwrlght, Schroeder and Heilner Lieutenant Commanders Hodgson, South erland, Sharp, Marsh and Wood; Major Wood, U. S. M. C. Lieutenants Hood, Roys and others. Tn most cases these witnesses swore affirmatively to incidents of which Commodore Schley had no recollection. Where the matters thus in dispute were i of importance—and they generally were —it was not only the right, bht the duty I of the court to accept the one and reject ! the other, and to report in harmony with 1 such decision. j Sonm of the minor misstatements of | fact above referred to as appear in the | paper under consideration are } <t,hv sta-te- I ment. in paragraph one that thpre war, no I “specification” covering tb.p voyage from Key West to Cienfuegos when this pci is in fact covered by the first, and m part by the second clause of the precept; > the complaint in paragraph 2 of the paper, i that there was no place mentioned iu the, ; .McCalla'memorandum at. which f.” Camp ; of insurgents was located, when the fact ! is that the court does not say that there was such a place, hut correctly pat a phrases the memorandum; the statement that the McCalla memorandum was sent to Commodore Schley only for us* in connection with the matter of batteries at Cienfuegos. Paragraph 2d of the paper under consul- | oration reads: “The majority of the court have on- > tirefy failed to determini- as to \\ ho was in command of the American naval forces engaged in the battle of Santiago, the finding of which face was absolutely ne cessary in order to determine property the first specification of the precept, a;-, to the conduct of Commodore Schley in connection with the events of the St) ft - tiago campaign.” » BIOGEEr EVENT OF THE YEAR Appearance of “Foxy Quilier” at the Academy j Hon day. The largest comic opera company of first class artists that, has ever appeared in Raleigh, will present "Foxy Quilier” at the Academy of Music next Monday right. This is undoubtedly the theatrical 1 event of the year and Manager Rivers | hud to give a personal guarantee to Klav & Erlanger that their share of the re ceipts should not be less than SBOO in or der to iuduee the attraction here. Rail roads have given reduced rates for the event and the company appears at no ether point in North Carolina. At the head of the company is the fa mous comedian Jerome Sykes, who, prior to this engagement, played the leading part with Edna Wallace Hopper in “Chris and the Wonderful Lamp.” It is an all star combination, including Adolph Zink, who was featured iu the Lilliputians Julius Steger. who appeared in Raleigh some years ago with Marie Tempest and, a host of others. “Foxy Quilier" is said to be the great est comic* operatic venture ever under taken in this country. The advance sale of seats indicates that Managers Rivers will not lose in the venture. Seats now ou sale. Price 50c. to $1.50. FOUGHT THE FILIPINOS- Mr- Daniel G Fowle Tells of Stiring Events in Luzon Back fiom the Philippine Islands but a short time Mr. Daniel G. Fowle, son of the late Governor Fowle, is a guest at the home of Dr. F. J. Haywood. Mr. Fowle, whose home is now in Chi cago served as a spoilt ou the Island cf Luzon iu tile 27th regiment, and talks interestingly of events there. Once separated from his scouting party he was attacked by one of the members of the bands of organized robbers who in sist the island, and was wounded in the side with a sword. Bringing bis pistol into action his assailant. f< II dead. Mr. Fowle agrees with the opinion that the uprising on the islands will be fre quent for years to come, requiring a large military force to preserve peace. The Assocated Press learns that the British War Office has come into posses sion of a cipher telegram purpotring to have been sent by the Boer commandant Delarey, stating that he could not hold cut longer than January. For Whooping Cough use CHENEY’S EXPECTORANT , flubblt-Wj'mis Drug Company* THE NEWS ANPOBSEVEK. SATURDAY MORNING. DEC. 21. 1901. Doctor David T&erthedyls Swi# ■ Remedy! Iffl. 44 The Kind TW Cured Your Grandfather **. «■»» t —— Tfie Greatest Medicine in the World for the Kid l | neys, Liver, Bladder and Blood. S ' , ■— If You Need a Medicine Use One That Is Absolutely Safe and Will Positively Cure You. » I To Assure You of Its Great Medicinal Vaide Every Reader of This Paper May Have a Trial Bottle Absolutely Free. ' / THE gjjjjlf THE i m l iMlj ONLY ¥ KIDNEY |j ill KIDNEY I MEDICINE MEDICINE ABSOLUTELY I jj THAT FREE j / || DOES FROM j J j NOT j HARMFUL || j :|i CONST! j IL ScwnPA^Jof (B tain cure for all the Diseases ■ p)j Weaknesses peculiar 11|||| |ll'| 'protection from attacks B that pi ll sis) ! originate in Change of Life, fell 1 SfiS jKssß|kw! • [jillj of Season and of Climate. 11 MI ffiiXjlissSlSfe cures SCROFULA and all Q TRY THIS »EST Put soiru- urine in a jlass tumbler ant) Vi I- o- 'J r-l'-yj'your ft sediment, or it it is pale or dn>eo.o: id. uni,*.- - T> i s > nn edv’'s Favorite Rem; Kidneys r>r Bladder are m “°s‘y m ' i oms ns pain in the back, ‘inability to hot* edy speedily cure-, su.h . > t- .-J i . nt desire t 0 urinate, es urine. a burning, scaldin r , pain in p... . n.-, .. unpleasant and pecially at night, the Raining of lirtcn 1 5 ~mn a >- 1 dangerous effects on the system produced by tne use oi §3 L EE _ By special arr indent with the Dr. pamphlet'of ‘valuable medical advice abso hilety tree, -nVtPimatkin! th ir foil post office a-Ur-a-u <•> ’ . , r ro"< rb- tiii- paner. The Kondotß. N *w York and mention hiv j p avnr!tf Kemeii; ir, s >ld editor guarantees the genuineness pt t ms niiep In all druggists or direct, SI.OO a bottle, •* bottle - ___ 1 THAN ONE BE«IT k BSSfe WITH THE ADVENT OK CHRISTMAS, one’s mind naturally turns to the ques tion of Candy—ROYSTER’S CANDY has brought happiness to the children and satisfaction to the parents", for many years. PRINTER WANTED AT ONCE. —Steady, reliable and sober. One competent to set attractive ads. and make up news paper forms. Steadv job. Address, Box “A”, Elizabeth Ci'y, N- 1 12-20-31. FOR 35 YEARS ■m. mmmmammmmmmsatmma ™ Matlmhek Piano has been before an appreciative public, and its reputation for j durabi ity, finish and quality of tone is unsurpassed- 1 hou j sands of purchasers all over the land will readily tes ifv to ! its merits. Our nv 1 Piano, the LUDDEN & BATES, is a wonder—as carefully and conscientiously constructed as any instrument in the United Slates, WE SELL ON EASY TERMS, Call at our ware-rooms or write us Lodden k Bates Southern Music House. B. F. MANIER, Jr., Manager. WHY PAY MORE FOR LIFE INSUMCE , v Elsewhere when you can get bolter pollcie» In the Old Reliable, £2IpFNN^' M “ CO., OF PHILA., * 31 At rates from Ten to Twenty per cent, cheaper, indepeml -3# ently of the more liberal dividends of the Penn. gSj Send for comparison* of Rates and Dividend and othei literature. Agents wanted. R- B RANEY f General Agent for North Carol'na, Raleigh, N. C. J. H. KING, F. J. HOLDER, Pre-ident. Vice-President. This is the place to secure a FIRST-CLASS BUSINESS TRAINING. Tosi tions guaranteed, under reasonable con ditions. Railroad fare paid. DO not FORGET the DATE of our WINTER OPENING, Monday, January 6, 1902. Write at once fer full information. Address, KING’S BUSINESS COLLEGE, 3so Fayetteville St„ Haleigh, N C BE ON TIME! New Year 1902 WHI Soon £3-\-. Be Here. 11 ! y You will need a Ledger, Day Book, Journal, Cash Book, - Invoice Book, or something of this kind when the New Year begins. We manufacture to o*der The very best. Flat openers to perfection. Ruled just a3 you want them. Better put your ; order in uow. It takes time to make a Book right, and it should have a few days to season. Os course we do all manner of PRINTING and BINDING. You know I that. EDWARDS & BROUGHTON, Raleigh. North Carolina. A GOOD BED. It is hardly necessary to touch ever so islightly upon the desirability—nay, absolute ; necessity tor a comfortable bed in these days of bustle, hurry and strenuous living The men and of this Twentieth Cen tury, who maks the worlds of work, business and pleasure go round, are keyed up to the hig nervous pitch, and hence need sound, retreshing sleep. It is criminal folly to deny them “a good bed.” But what is “a good be~* ?” A bed’s quality does not depend upon polished mahogany, or shining brass, but on the bed proper, and the material of wHch it is made. The mattress is the bed, and shou'd be given first consideration, and Our Royal Elastic Fell ;is the perfect mattress. We do not ask you to take our word, but refer you to our guar antee of thirty days’ trial. I ROYAL & BORDER l GOLDSBORO, N, C. Atlaniic Coast Line OR Condensed Schedule. TRAINS QOINQ SOUTH. DATED £ £ 3i5 • Jan. IS, 1.901 n , a m 3 h . <j> t,„ 2 m * >} ■* % (Corrected ) o a 6 * o j o‘3 d * XQ £ Q fc 8I £ O Q Lt. Weldon ..|ll 50[ 8 58| | j Ar. Rocky Mt..j 1 00] 9 52|.f ..| | |P-M.| |.....| 1 Lv. Tarboro .. |l2 211 | 6 00| I Lv. Rocky Mt..| 1 05|10 02| G 37| 6 15112 5J Lv. Wilson ..| 1 59110 40) 7 10} 6 571 2 40 Lv. Selma ~..| 2 55[11 18| | | Lv Fayettevlllej 4 30112 35| j i Ar. Florence..! 7 35| 2 40| | !••••• IP.M.|A. M.| ! | Ar. Goldsboro. | | I 1 65] I Lv. Goldsboro, j j 11 6 45| 330 Lv. Magnolia ..j | 11 7 61| 435 Ar. Wilmington I I » 201 r ' W> | | |r. M.|A.M.|P.M. TRAINS GOING NORTH. * >• T | | I 5. 65 ,o j o « ort o « Z Q \Z £ * P.I*P I«.Q [a7m.| |p m.| Lv. Florence | 9 60| | 7 35| | Lv Fayetteville|l2 15j | 9 41J | Ar. Wilson 2 85| 112 13| j j {A.M.| |P. M.JA.M. Lv. Wilmington) | | I 7 Wj 935 Lv. Magnolia..! | j 1 830 11 Lv. Goldsboro .| |4 60 | 9 37|12 28 |P. M.| lA.M.IRM-IRM. Lv. Wilson J 2 3sj 6 33|12 13)10 45 |1 18 Ar. Rocky Mt..| 3 30| 6 10|12 45|11 23j 153 j J Ar. Tarboro ..j I < 46) {••••* Lv. Tarboro .. 2 31 11 lIJ | j 111 I j Lv. Rocky Mt..j 3 30) jt2 45] Ar. Weldon ..| 4 82| I 1 »!•.••• |P.M,| JA. M.jP. M.j Yadkin Dlviion Main Line —Train leaves Wilmington, 9.00 a. m.. arrives Fa yet to - vllle 12.05 p. m.. leaves Fayetteville 12. as p m., arrives Sanford 1.43 p. rtx. Return ing leave Sanford 3.05 p. m.. arrive Fay etteville 4.30 p. us., arrive* Wilmington 9.25 p m. _ Bennettsville Branch—Train leaves Ben nettsville 8.06 a m.. Maiton 9-05 a. m.. Red Springs 9-53 a. tn.. Farktou 10.41 a. m., Hope Mills 10.55 s. m. arrive Fayette ville 11.10. Returning leaves Fayetteville 4.45 p. m., Hope Mills s.o ft a. m., Red Springs 5.43 p. m., Max ton 6.16 p. m., arrives Bennettsville 7.15 o. m. Cocnectiens at Fayetteville with train No. 78, at MaxtoD with the Carolina Cen tral Railroad, at Red Springs with the Bed Springs and Bowmore railroad, at Sanford with the Seaboard Air Line and Southern Railway, at Gulf with the Dur ham and Charlotte Railroad. Train on the Scotland Neck Branch Road leaves Weldon 3.55 p. m., Halifax 4.17 p. m., arrives Scotland Neck at 5.08 p. ns., Greenville 6.57 p. m.» Kinston 7.56 p m. Returning leaves Kinston 7.50 a m. Greenville 8.52 a. m.. arriving Halifax at 11.18 a. m., Weldon 11.33 a. m.. dally except Sunday. Trains on Washington Branch leave Washington B.IC am, and 2.30 p. m., ar rive Parmele 9.10 a. m.. and 4.00 p. m., returning leave Parmele 9.36 a. m. and 6.30 p. m., arrive Washington 11.00 a. nx and 7.30 p. m., dally except Sunday. Train leaves Tarboro, N. C., dally ex cept Sunday 5.30 p. m., Sunday. 4.15 p. m.. arrives Plymouth 7.40 p. m., <-10 p. m. Returning, leaves Plymouth daily except Sunday 7.50 am., and Sunday 9.00 a. m., arrives Tarboro 10.10 a. m., iI.OO a. m. Train on Midland N. C. Branch leaves Goldsboro dally, except Sunday, *.OO a. n; arriving Smitbfleld 6.10 a. m. Returning leaves Smithfield 8.00 a. m., arrives at Goldsboro 8.25 a. m. Trains on Nashville Branch leave Rocky Mount at 9.30 a. tn.. 3.40 r. m., arrives Nashville 10.20 a. m., 4.03 p. m. Spring Hope 11.00 a- *n., 4.25 p. m. Re turning leave Spring Hope 11.20 a. vn., 4 55 p. m., Nashville 11.45 a. m., 5.25 p m., artlvc at Rocky Mount 12.10 p. m., 8.00 p. m., doily except Sunday. Train on Clinton Branch leaves War saw for Clinton daily, except Sunday. 11.40 a. m. aud 4.25 p. m. Returning leaves Clinton at 6.45 a. m., aDd 2.50 p. in. Train No. 78 makes close connection at Weldon for all points North daily, all rail via Richmond. H. M. EMERSON, General Passenger A goat J. R. KENI.Y, Grn. Manager. T M EMERSON. Traffic Man**** | ATLANTIC COAST LINE It. R. " CONDENSED SCHEDULE. % Dated January 13 th. 1901. ~ No. l NoT f j No. f N- „ 1103 1 *49 | I*4B j HOU P. jL. jA. M. | |P- M. j A M. 2 20l 9 001 Lv.Norfolk Ar.j 5 55| 10 26 ? 40| 9 22( Pinner* Point j 5 30| 10 03 3 031 9 51] ...Drivers... j 6 05; 954 3 17j 10 obj ....Suffolk.... | 4 50[ 919 8 GO! 10 35) ....Gatea ....| 4 20| 846 4 Llj 10 Eo| ....Tumis.... | 4 00| 826 4 36j 11 06| ...Ahoskey... | 3 4l| 8 0b 4 53; 11 21| ...Aulander... | 3 27) 7 60 6 351 12 00| ...Hobgood... | 2 53| 7 08 6 00! 12 21| Ar.Tarboro Lv, > Slj *4l 1 , , [ |Ar. 6 351 12 50( Rocky Mount | 1 65| « li P. M. |P. M. | |P ; M. |A. U •Dally. ! Dally except Sunday. Trains No. 49 ‘and 48 solid trains be tween Pinner’s Point and Wilmington. Train No. 49 connects at Rocky Mouttf 1 with train 23 for all points South as* NC. 78 traiD tor all points North. J. R. KENLY, Gfneral Manager. T. M. EMERSON. Traffic Manage’., General Passenger Aye**, & M. »Mlif ßo# t
The News & Observer (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Dec. 21, 1901, edition 1
2
Click "Submit" to request a review of this page. NCDHC staff will check .
0 / 75