North Carolina Newspapers

Only Aftarnoon Paper Dctvccn Richmond and Atlanta With Leased IVro and Full Preso Despatches LAST EDITION. - V ; . ' : ; ALL THE UAEKET3. THE RALEIG Y -1TJ 11 X ll XX 3 VOLUME 30. RALEIGH, N, C, FRIDAY, OCTOBER 25, 1907. PSICS IX It: FINANCIAL SITUATION IN NEW YORK TODAY Seth A. Milliken, A. F. Higgins and Chas. T. Barney, SEVEN MORE BANKS -CLOSE THEIR DOORS 3 Officials of Harlem Branch Knickerbocker Trust Co. H E TIMES. 1 T stint PnYnnnniT ( I mnni nn irudi lumpaiij ui Auiciiba and Lincoln Trust Co. in Good Shape PILES OF YELLOW GOLD im sticks nr mi is IIIIW W I IIUIIW UI UlLbU The Number of Depositors Anxious to Draw Out Their Money Was Much Smaller Today and Many Were Reassured by Appearances and Left Without --.Withdrawing . ITI t . H . . A w , . i ucir r uiiuh ignores itiiiKiug i lie-open Knickerbocker Bank- Long and Important Conference ac Uie Home of Pierpont Morgan, The Trust Company Situation is in Hands of a Committee of Which Kins is Chairman' He Says Nitim- tion is Well in Hand and That No Statement is Necessary. Now York, Oct, 25. "Keep 9 your hoar and keep your money' in the banks. -.'There is no C cause for alarm. : The money of the people is safe in the 0 banks." 9 Such is the advice J. Pier- pont Morgan gives to the peo-, C pie of New York today through the Hearst News Service. - "Let the '.people keep cool," said Mr. Morgan. "This panic 1b foolish. If they will keep their heads and keep their money in the banks there will 9 De no trouble. , There is no danger that the outside banks will withdraw, their balances from the banks of New York. The most conservative finan- clers are in control.: v . "The situation is safe, but tell the people of Neto York to keep their heads." -'-. ..' ., . --- Epitome of the Situation. (By Leased Wire tn The Times.) New York, October 25 The finan cial situation has cleared so much that despite the temporary suspen sion of one small trust company and a half-dozen banking institutions, and continued runs on others, lead ing financiers declared that the crisis was past Millions of dollars "were available today, and the Trust Company of America, the Colonial Trust, the Lin coln Trust, and lesser banks on which there were tuns met every demand for money, f Depositors were paid as fast as they presented checks or pass books for withdrawals. There was an entire absence of the feeling of panic which prevailed from Tuesday until yesterday The International Trust Company of No. 206 Broadway, did not open for business today, and its suspension Involved the Borough Bank of Brook lyn, in' which Senator Reynolds ?s heavily interested and the Brooklyn Bank, both of which suspended. In Manhattan, the United States Exchange Bank, Nos. 23 and 25 West 125th street, did not open for bus iness. Instead a notice was posted announcing a temporary suspension Secretary of the Treasury Cortel- you was again at the sub-treasury to day. After several conferences with financiers he said that the 'situation had greatly improved. "I will continue to give whatever aid may be necessary during the day," he said. Closed Doors Not Unfavorable Sign, The secretary said he did not re gard the suspension of small banks as an unfavorable sign, as such sus pension . permitted the larger banks to concentrate their attention on the central situation. The Trust Company of America drew $500,000 In gold from the sub treasury as soon as it opened this morning. Half of that was sent up town to the Colonial Trust Company in St. Paul building. Heavy new de posits were announced by both oonJing incident: 1 . ' t-1 ! 1 PT1L.... f I 11 V . n cerns today. Oaklelgh Thorne, presi ldent of the Trust Company of America, declared that the situation was adjusting Itself and there was no cause for alarm The banking syndicate, headod by J. Pierpont Morgan, which sent $35, 000,000 Into the stock exchange yes terday announced its readiness to ex tend further aid today, Clearings were effected at an un (Continued on Second Page.) WORSE THAN AT FIRST REPORTED Earthquake Disaster in Cai ate and Sicily THOUSANDS LIVES LOST The Property Loss is so Knormous it Cannot be Accurately Estimated Government , Sends. .. Troops . to Dig iu the Uuins Where Many People, Still Alive, Are imprisoned :50( ISodit-s Unearthed in Less Than Half of One City. ( By Leased Wire to The .'-Times; ) Rome, Oct. 2 5- Lai est' - reor1 s- in dicato that the disaster c:nis,ol by earthquake shocks in Sicily- and Cal abria is even greater than at first sup posed. The (load will number-more than 500 and will possibly be as many as a thousand, while the prop erty loss is tremendous.-' The gov ernment has sent troops to dig in the ruins of Forrnzzano, where '.'ninny people, yet living, lire imprisoned. Three hundred bodies have been re covered thus far, and the city has not been searched over more than half its area. Tho popuhtlion was 2,000, and because of the panic which scattered tho survivors it has been imposslblo to learn how many are left. At Reggio and Messina houses top pled over like piles of blocks and many people were burled. Two walls of the cathedral at Gerace collapsed and a number of buildings felt at Szlnopoli. In scores of villages where the shocks were violent, the people fled to tha open and now are encamped, miserable and sick from the torren tial rains which have fallen continu ously. It is possible that nearly half the population of Ferruzzano per ished. Relief could not reach the city quickly enough to And out just how many escaped, for it is perched on a hill near the sea, isolated by mountains and not even in tele graphic communication with any other place. There are ho carriage roads and the' poor pathways are now blocked with fallen walls. Great cracks have appeared on the surface of tho earth, running several miles in length and hundreds'of feet deep, Heat rises from .some. of them, the authorities tracing, the cause of the earthquake to the volcanoes which have been muttering for some weeks. The disaster will possibly prove greater than that of 1905, as tlje shocks were much longer. The longest shock caused the eartn to rock violently for 21 seconds. The people cried out that the end of the world had come, "and they prostrated themselves in the streets. Old cas tles and towers, which have stood Cnlabrlan earthquake shocks for many centuries, were thrown down. The neighboring country Is flooded with rains, which makes the work of rescue decidedly slow. It Is possible that many of those who lost all the goods In their possession will emi grate. There will be no popular re lief because of the scandal which sur rounded the 1905 relief fund. The government will hell all possible Pope Plus X will do likewise. ROOSEVELT JOKES THE NEW SENATOR (By Leased Wire' to The Times.) Washington, Oct. 25 Robert h. Owen, the senator-to-be from the new state of Oklahoma, after a visit to the president, reports the follow- "Mr. Owen," said -the president, "I have only one criticism to make on the new constitution you have adopted In your state. It fails to prescribe the kind of tooth, powder a true Oklnhoman must use. Wfty this omission, when it regulated everything else under the sun?" "It was an oversight, Mr. Presi dent," said Owen, apologetically, "but we reckon on fixing that by statute." . I f . - . ... . . -:l.:.ar E .xiW 1 ft T I ass V 1 I i'vl -iii! SSair4 yS - ' IMiotosiaph of the run on the Harlem brit-ich of the Knickei liockei' Trust ( o New Virk t'lty, followinjf the sensational expose ot the company's allaii-s, and three of the (niance kms ulio me i-onni-i-li-il with tin- in stitution. Hearting t'foin left to right they are Srtli A. Milliken, A. l oster lliggms, and ( hiii lesV. Harney. INNER Or Tilt AIRSHIP RACE (By Loused Wire to TheTiiiies.) Now York, Oi-t. LTi. Although' it will take tho otlifl.il eoiiiputatlou of I'iip- tnin DeForost : C'liiimller to decide whether Krbslorh ami Clayton won the big balloon race or whether" their reneh ..contestants, '-Alfred LeHlaim and 10, W. Mix, .'.'navigated' the. isle lie Fiance further tli.m the SC7 miles credited to them, the American Aero Club has jili eady prepared to chal lenge for the cup.-'-. The club has. au thorized ('oiilandt F. Bishop to enter three American teams for tho compe tition, whteh will be held next year In Europe. Under the rules, the club need not mune tho conipetins teams mini re u; v j. next. i .1, 1 , . Lelllane and Mix have filed - a quest for an ollicial measurement ''of the relative distance from' Pt. Louts to the .actual spots at .-.which their airship and ' the Pommern landed. .The cmti- mittee granted tno request and .ns a - consequenco, while the concensus of 1 opinion is that the Germans will be I declared the winners, official an- J nouncemcnt of the result will not be about until about thirty days. GOVERNOR GLENN OFF TO WASHINGTON Governor Glenn returned today from Goldshoro and left this after noon for Washington. Tho hearing before Master Montgomery in the 1 Southern Railway rale caso will be ! taken up Monday morning, bti j whether tho governor has gone to Washington for that hearing could not bo learned. TWO GOOD SCHOOLS IN WAKE COUNTY, i Mr." Z. V. Judd, county superin tendent of education, returned to the city this afternoon from Apex and Pleasant Plains. Pleasant Plains, White Oak township, has a. $1,600 school building, the citizens having! voted a local tax last June. Apex by February 1 will havo completed the modern $7,0(10 school building.' Both, these districts havo voted extra tax and their schools are Iho most flourishing of any in tlio county. CHALLENGED LONGDISTANCE 11 Ai HIP RACE THE NEXT TIME ( I!y t.oaieil Wire to The Times.) NVu V01K. Cel. Oscar Krlis- loi'ii, the apia;i'iil. victor in i'he bal loon race from St. Louis for tho in ternat liii:'.l aeroaantii! cup - announces his determination. -.'to 1 .challenge it,, uiediali'l.v "for. Uii; Lahm cii), to maKo iiiioiln.-.' lliulii "lieiore his return' -.to-Gonnany, and, if postdbic. to la lie back wiili liini not only the inleina tional Irophy and the .Lahm,- but ai.o a new- world's .record for dislautv.-. five, aeronaut la'-" -delighted.-with Aineri 'a jis a ballooning count ry, and Is confident that he can .make' a ! start from Dallas, Texas, instead of Louis, ami navigate the air suc- ' cossfully to Xew .. Hampshire or -Maine, .- provided Jho prevailing ', uoi'theaMerl.vvVurrenU'. continue.- : . - SIR W. P. T2ELOAR. Kir W. V. Tnloar, Lord .Mayor of ; Iiomlon, who flushed the first trims- atlmiHe wireless message aci-oss the Atluntlc Ocean. ' I 7 v-f ' Y , i- j IF! 1 CENTRA'! GFGA. S0LDT0NORF0LK . (Tly- Leaned Wire to The Times.) niclinioiid, Vu., Oct, 2a.--That the Cenhal of Georgia Kailroad has boon sold to the Norfolk & South ern Is admitted by Oakleigh Thorne, one of the owners of the former property, .'who withholds the ..-names of the piirchasors. Kailroad men here .are reported puzzled over the deal as there is 110 connecting link between the two roads. The general idea, however, is that the Norfolk & Southern will get control of the road from - the ..capital of North Carolina to Augusta, taere to connect, with tho tracks of the Central of Georgia. UISlfANU LOWERS HER EASTERN RECORD (l:y Cable to The Times.) , Qnc-eivaown, Oct, 2-"i -Tho. I.ui lania arrived here at !i : I :! hist night. Tlie time of her passages was four days. 22 hours. Hi luinitles. The voyage, was a stormy one. Hig seas and fog compelled her to slow down. Tho best previous eastcrii record wits 5 (lays, -! hours and lit minutes. TRIAL BY PEERS IN COLLEGE LIFE (Hy Leased Wire to TliO Times.) Ann Arbor, Mich;; Oct. 25 Michi gan .'students, guilty, of light misde meanors hereafter will bo tried by their fellow students, who will be judgo and jury, and they will be soaked to tlie limit. Tho una ngemelit for the special court was "effected by a conferenc-e of ihe. president of the council, chief of tho city police and President An-j gell, who litis pledged his word to enforce (lie decisions of the council against students to the extent of ex pelling those found guilty and unwil ling to abide by tho verdict agulnst them. AND SOUTHERN? A TIMID NAVAL SURGEON'S VIEW Dr. Seaman Is Very Much Afraid of Japan AS fO PACIFIC FLEET m-i-ii-Maim' 111 I. S. Navy Who Wiis Willi tin" Japanese Forces -During Itusso-lap. War, Talks .-Vj: nisi Sciii!ni! the I'lei'l t. the I:i:-i!m (i'ts a Leltri' l-rom ( ount :I. 111:1, Who Savs it is Nut (iikmI lliploniai -v I lie Navy. (liv Leased Wire to .The N.-w Turk. let. i.r-fr. eatllan. sill--eull ma inr. 1 . Times.) Louis L. ;. A., wli.) s Willi tin- Japanese fmees. both naval and inilitai-v. dining I lie Ttnssn- Japnnrse -.-u-. has received a Velter friirn ( (Hint ukuina. t lie Japanesp pro- Kicssive leader, ill which Count Okum.t said that the .sending of the Atlantic Meet tn the I'acihc was anvtlung but KiHiu dipliunaev. rorelgn newsiiapers. - Count Okuma wrote, 'are too pessimistic.. The Jap anese aro convinced that there will lie nn war. P.very case like the San Francisco incident is sure to have a bad effect. I think .that the trouble" is due to the states sovereignty prin ciples in the tnited States. The power of the states Is too great. They ire too independent. The sending of the Atlantic Meet to Japan is not rood diplomacy. ' -.- '-We -clout want any trouble with Japan, said Dr. hc-uinau, '-particular ly since the. Russo-Japanese war. The Japanese are cocky and rampant on republicanism now, and they have a fleet that is a fleet; they have a well seasoned army and, nbove everything else,' they are patriotic. They don't want ---money, -and when the occasion coines they will light for nothing. It is not a theory, but a 'pruet Ice with them, and should the trouble come he would simply be presenting a fleet to them." T. S. Xaval Station in the Kast. (By Leased Wire to The Times.) New York. Oct. 25. A Washington dispatch to the American, In part, is as follows: Suhlg Hay Js eminently tltted as the place for the naval station of the I'nited States in the east. Manila Hay - is 'totally unfitted' for such pur poses. If'.. , -is has been alleged, It would retpnre lOH.ilDO men to defend Sublg l!ay, against hind uttac-k, it would re qui re ;iim.(Mi(l men to defend Manila against the same enemy." The foregoing is a brief statement made by Admiral .Dewey on the main points uf the e.ditrovcrsy , which has rprung up as to the relative merits of Stibig Hay and Manila;. Buy as the real key to tlie 'Philippines.'..-.' The admiral did not speak In a con troversial way. but merely us com inditing cm-cablegrams from Manila and variations-'on them which have been -printed in the United States within the lust forty-eight hours. cnux m sixKss GBOWS WOK.SK DAILY, (By Leased Wire to The Times.) Havana, Oct, 25. Business con ditions in Cuba, which have been seri ous for several weeks, are now worse than ever before. The difficulties of the Knickerbocker Trust Company attract serious attention, owing to tho large interests field by men In that company in eastern Cuba, es pecially in the Cuban Northeastern Hailroad end tho Cuba Hardwood Company. ' It Is Bahl that one bank here was compelled today to make a hasty cable transfer of $100,000 from New York In order to protect Itself. The banks decline -to majto advances to sugar planters who have always bor rowed at this season of the year on the forthcoming crops. The banks declare that they will not let go ot their money under existing local conditions. As It Is absolutely neces sary for the planters to borrow, the outlook is dark. It Is estimated that the loans to tho planters amount to between $!i, 000.000. and $10,000,000' annually. The railway strikes add to the de moralization. Tho United Railway Is moving nil its trains, but the West ern Railway continues to have trouble. . With Millions on Deposit They Suspend Payment ! Temporarily RECEIVER FOR BIGGEST . HI HDVIOENCE It Has $21,000,000 of Ieposlts and $28,000,000 of Assets Many Poor 1'eopie Among tlie Depositors la Xi'w York and Brooklyn the 17. 8.. Exchange llank Closed Doors With Notice Declaring Its Solvency Posted Thereon, While the Bor ough Hank of Brooklyn Announced a Temporary Suspension The Fulton - Street, Brooklyn, Bank Closed, With Dpnosits of Over Two Millions Itcasons Given for Sus pension, - - : t . New York, Oct.. 25. The In- ternational Trust Company, No. 9 20G Broadway, Manhattan, an- 0 9 nounted Its suspension until 9 t:ie restoration of public confl- S donee. 9 Tho Williamsburg Trust Co., Broadway and Kent avenue, 9 Williamsburg, closed its doors at 1:15 p. m., being unable to cash a check for $10,00QV Frank Jenkins is president. The bank has a capital of C $700,000. - - Liabilities are estimated at , $9,070,484. : - The Union Trust Company of Providence, R. I., suspend- ed payments. This Is the com- liany with which Marsden J. S Perry, one of the purchasers of the Georgia Central is con- nected. . . The Brooklyn Bank at Ful- ton and Clinton Btreets, and the Borough Bank on City Hall Square, Brooklyn, announced their temporary suspension. After announcing hat it was solvent the United States Ex- change Bank lu west 125th street, today closed Its doors temporarily. 0 This afternoon two more banks were added to the list of financial institutions which suspended payment making seven for the day namely, the International Trust Com- pany and the Guardians' Trust C Company, 0 Crowds at rffe- Trust Com- panies' doors were much small- er than yesterday. ' 0 About 400 small depositors, B mostly women, appeared at the Bank for Savings, Fourth and Twenty-second street, one of the oldest institutions in the city. The officers laughed at any idea of a serious run and paid all who asked for their money. ? The Stock? market opened with brisk trading at sustained prices. Later there were frac- tional declines. London was buying freely at three or four points up. 0 There is unquestionably a0 much better feeling and the general belief in New York is that the worst is over. -'" '': :" (Hy Leased Wire to The Times.) New York. Oct. 25. The Borough Hank of Brooklyn failed to open its doors today and its officials announ ced Its temporary suspension. The latest report of the Dank In tho bankers' guide gave it a capital of $200,000 with a surplus of $0, 000. The loans were given at $2, 650,000, with deposits of $3,250,000. The undivided profits were $85,000. Howard Maxwell is president of the bank, Arthur D. Campbell, cash ier; Herman Wischennan and Wil liam S. Hurley are vice-presidents. Its New York correspondent was the Knickerbocker Trust Company. ' V. S. Kxehnngo Ilnnk dosed. (By Leased Wire to The Times.) New York, Oct. 25. The United States Exchange Bank of No, 23 and 25 west 125th street, did not open Its doors today. A notice announc ing Its temporary suspension was posted on the door by the cashier. James J. O'Shaughnessy, and police headquarters was notified to send police reserves to handle the etdr growing crowd. (Continued on Pago Five.)