Only Afternoon Paper Between Richmond and Atlanta With Leased Wire and Full Prceo Diapaiohco
LAST EDITION.
ALL THE UABKEia
1 t l,J fi -. Hm um
fi
a; -THE BALEIGH EVENING TIME
3
VOLTJME so.
RALEIGH, N. 0., WEDNESDAY, OCTOBER 23, 1907.
PKIG2 la.
LATEST DEVELOPMENTS
; IN HNANCIAL FLURRY
S20.0D0.1)flO More gfGovm't
T . ' ,
Money lorned Loose by
M ofiTraasirj
BIG RAID TODAY ON,
1TRUST GO. OF AMERICA
The Immense Coffers of the Great
Bank Opened Up $11,000,000 This
Morning to Meet the Demands
State Banking Department Takes
. r Charge of the Knickerbocker
Bunk, Which Was Forced to 8ns.
pend Fayment by the Raid Yes
terday Secretary Cortelyou, J.
Pierpont Morgan and Other Great
Financiers in Protracted Confer
ence President of Clearing House
Says All Gamblers Must : Retire
from the Ranks and Trust' Com
panies in New York.
(By Leased Wire to The Times.)
New JTork, Oct. 23 The scenes of
yesterday were reproduced In the fi
nancial district this morning.
Up to noon It was not known
whether the Trust Company of Amer
ica, on which a run began today,
would successfully weather the slorm.
The Institutions seem to be receiving
more assistance from the outside than
had'been extended to the Knicker
bocker, but it could not be learned at
this writing whether this would suffica
to meet the demands of depositors.
On the heels of the fresh .troubles in
the local banking situation came the
news that a. prominent Pittsburg in
stitution was embarrassed and that
this would necessitate the, temporary
suspension or receivership for the
Westlnghouse Electric Company and
its allied concerns. In sympathy with
this General Electric dropped over 13
points, completing a decline of 20
points within two days. In the gen
eral list prices broke violently at the
c enlng, recovered and held fairly
steady for a time and then went to
pieces again, touching new low records
for the railroads and most of the in
dust rials.
High Price of Call Money.
Call money opened at 40 per cent
and by noon had risen to 60, the treas
ury relief measure counting for lit
tle beside the withholding of lendable
money supplies the reflective of a
panic feeling.
The Rush of Depositors Continues.
New York, Oct. 23,-WThe state
banking department has taken
charge of the Knickerbocker Trust
Company and it is announced the
doors of that institution will not
' open.
The latest developments In the
banking crUis In New York are:
Attorney General Jackson is here
and will decide today whether to ask
for a receivership for the Knlcker
bocker Trust Company.
A. Foster Higglns, now president
of the Knickerbocker, announced
after a conference with bis fellow
banking heads that further aid had
been refused this company. A di
rector of the company said the bank
would not open its doors today. It
was rumored that Thomas F. Ryan
had been asked to resign as director
in the Morton Trust Company. Levi
P. Morton, veteran president of that
company, entered a vigorous denial
A considerable number of deposi
tors withdrew funds from the Ryan
hank just before closing yesterday;
$100,000 was paid out n 45 mln
Utes. ;
A conference of bankers at the
Hotel Manhattan, who had been ap
pealed to by promoters of- the trust
companies, decided at an early hour
this morning to assist the Trust
Company of America if found neces
sary and to consider future apllca
tlons of other companies if made.
Oaklelgh Thorne is president of the
company,
George B. Cortelyou, secretary of
the treasury, came from Washington
last night and at the Manhattan
Hotel told a group of financiers that
he had arranged to ' release more
than $20,000,000 of, government
money, including the 16,000,000 an
nounced yesterday, to relieve the
Ideal situation
Gamblers Most Get Out of the Banks
William A. Wash, president of the
New York clearing house, declared
that all gamblers and "high flnan
clers" must get out of the banks and
truBt companies of the city.
Big Rush of Depositors, Bnt Plenty
, of Money,
(By teased Wire to The Times.)
New York, Oct 23. A '-thousand!
oouunueo. on second rage.-
PUT BLAME ON
0
' . .. . x ,t tl '
THE PRESIDENT
Say Officials of the Bursled
, Knickerbocker Bank
IF DISASTER FOLLOWS
Fourth' Vice-President Turnhull Says
a Certain Man Occupying KxiiHed
Official Station is Responsible for
the Lack of Confidence Which Has
Shaken Credit In .New York
Financial Circles Attention Xow
Fixed On Morton und American
Companies.
(By -Leased Wire to The Times.) ,
New York, Oct. 23. In the 'height of
the excitement attending ihc run on
Ihe Fifth Avenue main: office of 111 ;
Knickerbocker Trust Cnmpauv, Wil
liam Turnbull, ; fourth vice president
of-' the. company, told the reporters
what, in his belief, was the cause of
the sudden alarm of the Knickerbock
er's depositors anil what was the un
derlying explanation for the break In
credit thut appeared on Wall street
yesterday. -
"Last night we had every confidence
In the institution," said Turnbull.
"We knew that the Trust Company's
assets were way above its liabilities,
and we could not foresee that today's
trouble would come. But just over
night that delicate thing in the busi
ness world public .confidence was
shaken, and we came down to work
this morning to find that our credit
was doubted by the depositors, and
that we had a run on our hands.
'This is the Inevitable end' f what
lias "been In progress for months.
There is a man high In aurthorlty In
this country who does not know the
meaning of credit, and who has con
sistently done all that he. could to de
stroy this delicate constituent of legit
imate business method.
"If disaster follows this Initial break
and any one wants to learn the funda
mental cause of the trouble, let him
go back over the last six months and
read the speeches of this man."
One of the reporters asked Mr.
Turnbull whether he was referring to
President Roosevelt.
"You know perfectly well who I
mean," replied Mr. Turnbull. "There
is no need for me to specify."
The Knickerbocker will not reopen
Its doors. An all-night conference
came to that decls'on.
The Morton and Trust Companies of
America Under Suspicion.
(By Leased Wire to The Times.)
New, York, Oct. 23. With the an
nouncement made early today by a di
rector of the : Knickerbocker Trust
Company after all night conferences
that the company would not again
open Its doors in its present form, In
terest in Wall street was switched
largely to the Trust Company of
America and the Morton Trust Com-c
pany..""
Secretary of the Treasury Cortelyou
who came from Washington last night,
held at the Hotel Manhattan a confer
ence lasting far into the night. This
conference was attended by members
of the Morgan firm, J. P. - Morgan
himself, presiding In the deliberations
for several hours. President Thorn,
of the Trust Company of America, and
George W. Perkins, after the confer
ence, 'admitted that the condition of
that concern wai causing anxiety, tut
theylald that investigation had been
made for all the cash that deemed ne
cessary and that the day would pass
wlthut.i disaster. ,The Morton Trust
Company, of wnl$h Thomas Fortune
Ryan Is the dominating figure, al
though former Vice-President Levi P.
Morton Is Its president, Is also being
keenly watched . today.
Depositors demanded and received
$100,000 from the Morton Trust Com
pany In the last forty-five minutes
of business yesterday.
Rumors were rife that Thomas F.
Ryan had been asked to resign from
the company and It was said In some
quarters that his resignation had ac
tually been placed In . the hands of the
directors shortly after the exposure
that was made, by L. B. Qulgg before
the public utilities board.
The rumors were emphatically de
nied by Levi P. Morton; president of
the Ryan Company, who said: :
"The story In circulation that Mr.
Ryan has resigned or Intends to re
sign as vice president of the Morton
Trust Company Is pure Invention. Mr,
Ryan has not resigned and has no In
tention of doing so. It has never beon
d.'scussed or even suggested."
Mr, Ryan made many trips from his
office in the Morton Trust Company
in t ha nffln tit lfalatitlna T flnvrinr.
president of the National Bank of
j (Continued on Page Seven.) ,
IIIUIIUIIU u
ATTITUDE IN ri
mid uniuitf v:5v
The Greatest' of All Die Hi": Finan
ciers lias Got Willi Street to
Guessing Why Kid He Refuse
the Five Million to the Knicker
bocker at the Last Moment is a
Puzzle.
(By Leased Wire to The Times.)
New York, Oct. 23. J. Plcrpont Mor
gan's attitude In the present crisis I
n, puzzle to Wall street. After mak
ing a tacit pledge, that lie would pro
vide $5,000,000 to aid the Knicker
bocker Trust Company in its extrem
ity, it Is assorted that he failed to
make the promise good and it was
largely due to his failure that the
company had to close its doors.
The Morgan flrnr was driven out of
the open use of the vast funds of the
New York I.ife Insurance Company
by the investigation that was brought
out through the Harriman use of tin
Ffiuit able Company's funds and V(:
street has a story that Morgan Is
about to take advantage of the. -present
opportunity to even the account
with Harriman and the Standard Oil
crowd.
Whatever- may be his purpose, it Is
known that he has been buying vast
blocks of Illinois Central which Stuy
vesant Fish has been trying to wrest
out of the Harriman control In the
last few days and that his brokers
have also been active In gobbling up
every share of Union racliic that has
been offered.
$1,500,000 Cheek Closed the Win-dow.':-:
'
It developed today that It was the
presentation of the cheek for $1,500.
000 in favor of the Hanover Notional
Bank that precipitated the suspen
sion of the Knickerbocker Trust Company.-
. '
A bank mesesnger" with his cheek
had been waiting in line at the down
town' office at No. 66 Broadway. When
he finally reached the paying teller's
window he handed In the check.
1ere was a breathless delay and
then the money was counted out to
htm. He had not finished packing It
In his valise when the paying teller
closed the window with a final bang.
There was still somo cash left in the
paying teller's cage but it obviously
was insufficient to satisfy the de
mands of the long line of depositors
and more money was not forthcoming.
He Made a Practice of Culling Up
Young Ladies Over the Phono nnu
Sending Insulting Messages to
Them Caught in Act, He Kseupcs
From Police Mob Caught Him
and Shot Him to Death.
(By Leased Wire to The Times.)'
Van Vleet, Miss., Oct. 23 Henry
Sykes, a negro, was lynched here by
a small crowd of men thought to hull
from Okolona. Sykes, who was a re
cent arrival from Indiana, was ac
cused of calling up white girls in
Okolona on the telephone and annoy
ing them.
The town authorities used a de
coy message to get' Sykes there, but
before ho could be taken ho had es
caped. An all night - chase ended
when tho posse captured, the negro
after a brief fight In which shots
were exchanged.
Jl..- -rSTUJUitl "H&airtrrirn3MTIJr . .. 1 1 ST Jl H i ill ! I
GORILLA
NEGRO
LYNCHED
MISSISSIPPI
Miss Alice L.
iN superior mgr
Bio Civil Case on This
Afternoon
TWO CASES CONTINUED
Verdict Ileaehed in Case of Hiui
Wiii'd Hardware Company, ,,,lt
Decision Has Not llecn llemlered.
W. L. Watson, Trustee, vs. Prox
imity Mnnulacturiiis Company
Other Cases.
In superior court this morning Ihe
case of David Henry Harris vs. John
H. Love was continued lor the plain
tiff. The case of W. It. Terry, ex
eecutor of S. D. I'erry, vs. the Sea
board Air Line for the killing .of S.
D. Perry, a trainman, was also con
tinued. This afternoon the case of Walter
L. Watson, trustee of the late "W. V.
Mills, vs. The Proximity Manufactur
ing Company, is being heard. As
trustee Mr. Watson is demanding
the payment of $.12,000, and the
Proximinty Company denies that it
owes the sum, setting up a counter
claim of $2:l,0:i0. Messrs. W. C.
Douglass, R. N. Simms and Robert
Strong appear for t'ae trustee, while
Messrs. Pou & Fuller represent tho
Proximity Manufacturing Company.
Tae caso of Sarah A. Walker et
al., .colored, vs. Ella Taylor, colored,
over the rental of a house, was given
to the, jury at 1 this afternoon. The
case Involves some Hue points of law,
and after , the Wake, superior court
gets through with it, will probably
go up to the supreme' court. This
matter has been in the courts before,
a general feature ot It having been
In tlie supremo court.
In the cose of the Hart-Ward Hard
ware Company through the corpora
tion commission against the Southern
Hallway Company for delay in the
delivery of freight, the jury returned
a verdict at 5 o'clock lost evening.
The Jury found that the plaintiff sent
every day for freight, but was negli
gent about it. Judge1" Long has not
rci'dered a decision in this case. The
isues and answers are;
1. Did the consignee send for and
request of the defendant tho delivery
of the contents of the -ar, every dny
after notification until thoy were de
livered? Answer. "Yes."
2. Wad the consignee diligent' In
trying to get his freight? Answer.
"No."
S. Did the defendant's delivery elerk
(Continued on Second Puge.)
Stanton Smith
Miss Alice L. Stanton Smith (at
the top), heiress to 100,000 and
cousin of .Mrs. Slimt'ovl White, whose
liushaud was killed !, H.irry Thaw.
The young heiress is m.-kin;; an ap
cal to Society for rivyeu'ion of
Crime in New York, initl deci.iri's
that' ever since it was (ecid'd tliat
she was to come into .(! !;, iii'i. i.i-r
relatives have marie iter life n mis
ery, and have hud lier iiieareei."cd
as an incompetent three tlill'erei.'
times. Kach timt she said she was
released by the courts, and she now
asks that (his persecution lie stop
ped. On the left is .Mrs. Stanford
White, her cousin. The sketch shows
.Miss Smith in her cell in an insane
asylum. .Miss Smith lives nt St.
tlauics, Long Island.
TO
(lly Leased Wive to The Times.)
New York, Oct. 23 On tho Kaiser
Wilhelm II, which 'arrived today
were the Duchess of Marlborough and
Mr. and Mrs. William K. Vanderbilt,
Sr. The Duchess looked hale and
cherry as she descended tho gang
plank, and if she retains and resent
ment toward . the-duke, from whoni
sho was recently separated, she did
not show It.
Tho Duchess left immediately for
Oakfhile, L. I., where sho spent her
childhood. After staying there for a
time ,he will go to Urookholt, the
country home of her mother, Mrs.
O. H. P. Belmont, In Hempstead.
From there sho will go to the coun
try place of Mr. mid Mrs. W. K. Van
derbilt, Jr. This is yio first visit the
Duchtms has paid to her nntlve land
slnco 1005, when she visited her
mother and old friends in Newport
aud Hespsfead und witnessed the
Vanderbilt cup auto races. Her pres
ent visit Is Intended to he definite.
Custody of her two sons, the Mar
quis of Ulandford find Lord Ivor
Churchill, remains with tho mother,
finder the separation agreement by
which William K. Vanderbilt pays
the duke JO,000 a year.
WARNING
AMER
CAN
ANGLICANS
ALL AIRSHIP
SMASHED THIS TIME
THQRNE SELLS
CENTRAL OF OA,
Question of Who Will Now
Control Road
HARKIMAN GET IT?
it is '(iioi!h( Likely That the Big
Western liailroad Magnate May
Have Secured Controlling interest
in Important SoiUliern Road The
How Amongst the Bondholders
1 tuvri man's Ueteiition of Central
Will Depend tin Illinois Central.
(Ilv Leased Wire to The Times.)
.'i'v Vorl;, Oct. 23.- Oaklelgh
Thorne. president of the Trust Com
pany o America, nas sold the eon
trol til" Uin Central- of Georgia Rail
way which he purchased jointly .with
MnritdtMi J. -Perry, of Providence, last
July.
Continuing his sale of the prop
erty, lie said that it had not bten
made to .Hock Island interests. Mr.
horno would not pive further par
ticulars of the deal, therefore it is
not unlikely that the Central of
Georgia may have been sold to Har
riman interests for the account of
the Illinois Central, as this is the
only largo system, except the Rock
Island system which, from a geo
graphical point of view, could up
tl property" to advantage. If Mr.
Ki'imaif lifis-'tiken '.bV'er tne, prop
erty and should lose his fight f..
control of the - Illinois'--' Central -nc
would probably be anxxious to get
rid of it ns soon as possible.
The Illinois Central will within a
few weeks have a new line into Bir
mingham, Ala., where it could make
connections with the Central of
Georgia, giving it an Atlantic coast
terminal at Savannah.
The Rock Island could tap the
Central of Georgia at Birmingham
through its St. Louis & San Fran
cisco line running there from Kan-
City.
Only i o".tntly there has been a
row i;i 'ht Central of Georgia caused
by a itrorefct of the preferred income
hcut'iiioUiers, who declared that : a
l--mier systojn of book-keeping
won.) sf'ow ihu- the full five per
cent di. """u.! com J be pa;i to the
holders oi first, f-cor.d and third
preferred bo:. ' ; A number of con
ferences were n 1;' . in Ill's city be
tween ' the---bondho."dvgr yvmsmittw
and Mr. Thorne, Mau 1an . Pc.i ry
and President J. F. Hanse i. U was
finally decided that the full ti 'icr
cent should be paid to the hoiU
of the first, preferred bonds somw
thing' over '.3 per cent to the second
preferred holders, while the third
preferred bonds should get no divi
dend. .
VERDICT GIVEN
(By Leased Wire t The Times.)
New York, Oct. 23. A verdict of
$2.", (lot) damages was awarded by
the jury that has been heariiig the
suit of Mis. Ella B. Kenyon-Warner,
a celebrated writer on educational
subjects, against Dr. Flavins Packer
and Dr. Sidney D. Wilgus, for $50,
000 damages because they adjudged
her insane and caused her commit
ment to the Middletown Insane asy
lum. ..
Mrs. Warner, the Jury found, was
sane on July 13. 1904, when she
was examined by the two alienists
and that they were negligent In malt
ing their examination. Counsel for
Mrs. Warner declared that the ver
dict was undoubtedly a "law-maker"
and would have great effect upon in
sanity cases in this state. It was
the first case of the kind ever tried
in New York.
BIG DAMAGES
RECORDS
Result of Balloon Contest
of Nations
MARVELOUS FEAT Of
THE GERMAN SHIP
More Than One Thousand Miles
Made iy the Pommem When It
Landed Today at Asbury Park,
After Soiling 18 Hours and Cross
ing Great Heights The "United
Slates" Shin Landed With 050
Miles to Its Credit Record and
Movements of the Other Balloons
Today in Greutest Aerlnl Contest
Ever Pulled Off.
(By Leased Wire to The Times.)
New York, Oct. : 23. The German
balloon Pommern with sky-pilot Oscar
Kibsloeh, landed today within a few
yards of the Atlantic ocean at Brad
ley Beach. Asbury Park. It sailed s
few minutes after 4 o'clock Monday
afternoon from St. Louts in the Inter
national balloon contest and landed at
five ' minutes after 10 o'clock In the
yards of Steiners & Son, night shirt
factory at Uradley Beach.
11 is believed that this establishes
the. record for a balloon flight, even
exceeding the ' flight made by the
French balloon from Paris into Rus
sia. The distance in a straight Una
from St. Louis to where the Pommem
came down Is more than a thousand
miles. The Pommern came very near
carrying its passengers, Pilot Erbsloeh
and Aid Henry H. Clayton, Into the
ocean before it was successfully land
ed. They first tried to land back of
Bradley Beach, a half mile from the
ocean, but as they, came down the an-
rtnl?t1 v rrte fl Bom.
.'(; nold ilieio. itn- .-.v er.vl
jtes.' .
The 1 .'!'! '.. b.'illoon' Anjnu, R::c-ji'd-liimiu
it iv-t. tc"lvfcd In pfcUndoli'
pil:i ; InnrVd a' X.tMie ('reofe, Dover,
I,,:, shortly niter 8 o'clock. Two
other balloons passed over Philadel
phia about the same time.
News of the Other Airships.
(By Leased Wire to The Times.)
St. Louis, Mo., Oct. 23. Each of the
nine balloons In the international long
distance race that began at the Aero
Club grounds bids fair to eclipse the
record of 402 miles that Lieutenant
Lahm made when he won the cup in
the first contest In "Europe a year ago.
Frequent messages to the club officials
today showed that most of the bal
loonists, although greatly separated
by variable winds, are maintaining a
gallant contest. . .
The first aeronaut to land was Ma,
Hersey of the weather bureau, who
brought his mammoth airship, the
United States, to the ground near
Hamilton, Ontario, after a flight ot
more than 650 miles across Illinois and
Lake Michigan. The apparent leader
in tile race, however, is an unidentified
balloon that was sighted passing over
Alpena, Mich., on the western shore
tii Lake Huron, 717 miles from the
-.'.. point.
i'!,e i.it.-s II, the British contestant,
; .he A;c : U .. the Dusseldorff, the Bt
. ! th; A.bercron, Paul Mtx-
;'.-ie era.: form the r tv
-Jl ' - :t U. rue..
TV
Chand-
Mc
r i tra ,-e"i
from them mi
"Will det.
Erie." A TP'
ville, O.,
v said:
'"
"f .miy-'
reads:
a. r 1
r . a
tl X S
0 .11. ptt.
eHt at n1
ion, at ait uitl'.'ii i
fy ;(-!.' ...
'. nesvilie
iihh'S freui
is approximate
, Louis and a const
able, ditifvrue from Lake .Erie. Tit
v. ! t' referring to their descept is
jcoi tmed here as meaning that the
l"e army balloon that made a 450 mile
) record test trip last week has met
with some mishap.
Richmond, Va., Oct. 23. A balloon
sailing about 500 feet from the ground
passed over the Amerlcus mines,
thirty miles north of this city at 7:35
this morning, traveling in a northeast
direction. A large figure eight on the
balloon was easily distinguished, as
well fts two passengers In the car.
WiImln8ton- Del- Oct. 23. A bal
loon bearing the French flag passed
over the center of the city at 9 a. m.
It is about 2,000 feet in the air.
Philadelphia, Pa., Oct. 23. The Eng
lish balloon Lotus II was sighted pass
ing over Cream Ridge, twenty-five
miles southwest of here at i o'clock.
The course was northeasterly.
The "St. Louis" Made Fine Record.
(By. Leased Wire to The Times.)
New York, Oct. 23. The Ameri
can balloon St, Louis, w'th Allan B.
Hawley and Augustus Post, landed
at 9:40 a. m. at Westminster, Md.
Pilot Hawley sent a dispatch saying
both were well after a most success
ful voyage. Proximity of the ocean
(Continued on Second Pace.).
ill:
VI'
I