Newspapers / The Raleigh Times (Raleigh, … / Oct. 25, 1907, edition 1 / Page 2
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t i PAGETWO JilW" ;i THE RALEIGH EVENING TIMES: FRIDAY, OCTOBER 25, 1907. V V i ' Financial Situation la, New Ycrfe Today ; (Continued from First Page.) usually hour at the stock exchange clearing house, and the situation In the stock market was encouraging. ' Leading bankers of the city held a conference in the offices of the Union Trust Company before banking hours. Every one present expressed confidence that the worst was over and there would be" no further trouble. ' The Pittsburg stock exchange re mained closed again today. The run at the Fifth Avenue Trust Company was at an end today, and there were no depositors in line to withdraw their money when the bank opened. All other bunking concerns which have been in trouble were in excel lent shape. Strongest Hands lJebind Stocks. Stocks were supported today by the strongest hands in the financial world. Interests that have stood aside for many months watching the; decline are now busy buying bargains. 1 They don't hesitate to say thirt these! stocks will be for sale should the market advance because the purchas- j ers are taking aboard an abnormal , volume of securities. But the fact that they are willing to take up this load even temporarily Js reassuring. , '."'' Th banks of importance are find in:; themselves supplied with an abun dance of cash. It will be no calam ity in the A, all: Street view if, a few small banks disappear from the hori zon permanently and the big people are shaping things so that depositors even in these small banks will get all their money back. ; No particular stock distinguished Itself today, but the standard issues were used to influence sentiment and i thev advanced from 1 to 3 points. I Wheat was also advanced about He - . . . a bushel and cotton was permitted to ! - ' Attorney " , ;onei:.,, ,I:u.UPlin sink lower. . ,: approve of the plnri: 'the dliwtors an 1 Money was furnished freely and t;ie mt. aoil"S with them, wil.l.'.-ivw.lve resnonsible bankers said they looked themselves int.) a protective pool; for no further, panic just (now on that ! which , wilt eventually-. -absorb. 'Hie as neennnf 'rets of the company and. assume all Transactions of the Day. (Try Leased Wire to The Times.) New York, Oct. 2",. Stacks of gold coins and piles of yellow and green- backed" I'nited States treasury notes " " , , f V'7P teller of the Trust I ompany of Araer- ... . . . ,, , , ica at its Wall street at -firoadway and Ann street branch when business opened today. There were a small number of anxious men and women who wanted to take their deposits out but sight of the money and knowledge that the .Trust Company heads ap pointed by J. P. Morgan and the .sec retary of tli t treasury stood ready to supply the bank With an . unlimiited quantity of money, and that more than $5,000,000 was in the. coffers ready for payment today somewhat allayed tht anxiety. In the two days' run the company has paid out nearly $20,000, 000. --. :':, In every banking house in the field than, avraac,j1 tho IntonHnn of standing by the Trust Company of America as long as any of its deposi tors showed the least timidity. Frank Tllfoid. president of the Lin coln Trust Company, 26th street and Fifth Avenue, announced just before opening of the doors of the company today, that. --there was ample cash on hand to meet .all. demands' that might be made '-during .the day. lie charac terized tb" rim made on the deposits as very silly and attributed It to the fact that the Knickerbocker Trust Company, another Fifth Avenue Insti tution, had closed its doors. "We are roIiik to continue to pay everybody in full fight along as fast as we can count the money out to them," he said. "We have got it. more than wo had last night and plenty to meet the same steady demand that wo experienced yesterday. We did n t go to outsiders for it .ell her: we raised it among nursslves, our directors, I mean, and our friends." .' In the five houses of business yester day the bank 'paid out more than $1,- 600,000. It was learned today that th? directors and committees that are try ing to brij order out of the chaotic affairs of the Knickerbocker Trust Company have determined to apply for the appointment of a temporary) the Brooklyn Bank also posted a no receiver. If the superintendent of ! tlee of suspension. I ' (A '' CoXMtlli iw, by L. ADLEft, C4. CO GUAKARITEE CLOTHING its obligations. The depositors. It . is said, will be paid. It is likely thut the company in the event of the guarantee plan go ing through, wil ask permission first to open its trust department. . Pom? of the directors said there was hope ithat this department might be in " eration again bv the h -ft of op- next week. The activities of this depart ment are confined solely to stock and bond transfers. Some of the K;i' -kerboeker directors approached certain interests in Wall street yesterday with a view to bring ing about a sale of the coinnany's big jhome at 36th street and Fifth Avenue. It Is understood they was $2,500,000 for the building. The interests approach ed were not in a position to take the property. It has never been ma'.e public, what the exact value of the building was. It is one of Stanford White's finest pieces of work. ;';'.- j (l I III StOPl in Has 15ooii Weathered." New York, jOct. 23. After a short conference with Secretary Cortelyou this morning Oeorge W. Perkins went from the sub-treasury to his desk at the banking house of J. P. Morgan & Company, where lie said: "I believe the Storm hits, been weath ered. Things are looking much brighter today." . The. bankers at the sub-treasury com plained of the shortage of short bills, Twelve million dollars in one, two and five dollar bills came in from Wash ington yesterday, but they werequick ly paid out. "The small bills have aboyt all been exhausted," said Hamilton Fish, "an 1 from now on the bankers will be com pelled to pay in gold." ' Two hanks, however, this piorniiig found it expedient to dose down tem porarily for the protection of their de pr.ritors. The I'nited States F.xehange Bank. No. 23 and 25 West 12."th street, -poster a notice before banking hours began, announcing its temporary suspension; A large crowd had gathered In front of the- bank and the officers telephon ed to police headquarter, for. protec tion, fearing a hostile 'demonstration. I The Borough Bank of Brooklyn and CLAIMS AND EXAGGERATED VALUES ARE EVERYDAY OCCURRENCES In advertising it is easier to make big claims, than give big values, so don't be guided alone by "talk" r go and look at the merchandise itself. Our doors are wide open to the man who wants to be shown. ,We welcome the man who wants to believe by seeing. We've Clothes that possess the style and tailoring beutyt hat convinces. SPECIAL for Friday and Saturday, Men's Suits in all the new shades of Brown and Gray mix tures for two days only $11.90.'v X-v-y-v:.:;:;, TWO HUNDRED Overcoats in all colors, shades and styles. Special for 2 days only $11.90. Jt Jf A matter jy of choice ilvL 1 V Which will you have Tv jf dry, chalky, tasteless jTtC ff oyster crackers dipped If ' out of a barrel, or , a gl dainty, appetizing bubbles of y l crispness that melt on your H H tongue with a savory suspicion if 11 of salt and add zest U to your soup or oysters? H (S$ in moisture ' B proof Packages 'Jf y NATIONAL 'Zjdi'V. JgN v.yj BISCUIT The -three hanks -which suspendol yesterday ' remained' closed today. They are the .Hamilton, the Twelfth Ward ami the 'Km pi re"; Savings. All are de clared to be -'-perfectly . -so-lvcnt" and there Is ii nrolability ri ultimate loss en deposits. ivxcileinent was not entirely allayed by the enormous sums poured into the local banks and stock exchange yes terday' bv Secretary, -of the Treasury Cortelyon. ,!. I'ierpont '.Morgan ami j John D. .L.u-kefeller. whose loans and .icposits aggregated - $Ui.mk.000; . Rursj rontimnd on the Trust Company of America, me I inoniai i rusi i uiii;i;im a lid the Lincoln Trust (.'ompany and the Dollar Bank, lien and women r untitled all night In front of thi'se banks s that they might be the firs', to withdraw. 'their' money ..today.-'--- Notwithstanding these unpleasant features of the': situation,, however, the financiers were, optimistic. It was de- c'a.-d that every run would be met from now on and there would be mon- ey lor nil.-"The -position of the cle.ir- ing house banks was strong and the stock maiket was strongly supported. A Long Conference at J. 1. Morgan's -'.' Home.. (By Leased Wire to The Times.) New York. Oct. 25. The work of the bankiUs who are grappling With the whole banking situation was again prolonged far Into the, night, j remaps the most important or the . conferences after the end of the busi rrs day was One In the library of .T, rierpont Jlorgan's house at Madison Avemio and Sflth street. This r-o,)i'erence lasted ; until after j n.'dniglit. I he bankers present . said nr they came away that there was no statement to lie made, regarding the rieetlng. Mr. Stillman said it had beer. -: 1 1 -,- an infoinial talk. Many of them expiessed the opinion that th (xeitement Inid .abated decidedly. Among those present : were Kdward Iting, president of the Vnion Trust Company ami chairman- of the Trust Company committee handling the Titi-t o mpany of America situation: iiiklelgh Thorne, James ; Sliilman, teoige F. linker, riiorge W, I'erkins and K. H. Harrimau. , A banker who 'was in touch with this and -various informal conferences held last night said, today: "Tlie." 'situation generally Is well in I hand mid of a nature that makes n statement unnecessary. The Trust Comirany situation Is In the hands of the .committee of which Mr. King ' rm K v .chairman and that 'committee is go ing right ahead with its work. Alto gether the situation is, .unchanged, as far as I know. The .conference at Mr. Morgan's house was just Vamocting ofr bankers, who desired, K talk matters i over after the day's-developments.", j Secretary Cortelyou made a speech ) full of optimism at the graduates club b, fore meeting the bankers at the Ho tel Manhattan. : Statement By Oaklciuh Tliorne, (By Leased Wire to The Times.) Xcw York, Oct. 2," President OaUleigh Thorne, of the Trust Coin- i pany of America, just before I he bank opened this morning km iie the fol lowing statement: in "Wo have the situation we'll hand. So far as we n re concerned we expect to pay every one on de- i mnnd. We open alii) a. m,. as wo ,,, nsl,.,lh. and wo win nav off as " ' ,P? . I """o."" m iKini. ii i)-citi hours.' The "Loan Crowd." (IJy Leased Wire to The Times.) New York, Oct. 25 Although no official statement has been made, word has been passed in the loan crowd thai the Morgan loans made yesterday would he renewed at 20 er cent. There are a largo number of . -li-tUti-3 hi the loan crowd now. but so far no offers have been made. Coiiiiitions in Other Cities. Columbus. O., Oct. 25 The Press i Post publishes interviews (with lead ing bankers of this ell y and all are unaniinoi s- in saying that the finan cial Hurry in New York has not af fected tlv situation hen;, and they don't aatielpate that it will do so. As a mailer of fact local bankers say that instil ut ions hero have not felt the effects "of the panic in the least. Detroit,. Mich.,. Oct. .23 In, pleas ant coin iv st to the reports from the-i feverish financial -center '.of the east were the ..'scenes at tho Detroit, banks yesterday rr.d today.' The banks in Detroit-are perfectly solid and the eastern situation has 'not affected.. them in the lesat. (ireal Improvement at riltshurg. l'lttsburg. Pa.. Oct. 25. With addl A. ft LOOK AT OUR WINDOWS COMPANY, tional millions in money now depos ited in Pittsburg United States depos itories by Secretary Cortelyou and an nouncement that the' Westlnghouse plants will continue In full olferation the situation in this city has tremen dously improved. Still more gold Is promised by treasury fflcials. Local t ankers and trust company officials frni mottling. NeWlYork, Oct. 25.-Otto H. Kahn, of Kuhn, Loeb & Company, said last night that he tlid not believe any' im li.trliate reorganization of the West irthouse companies would be attempt ed. Such action, Mr. Kabn Intimated was probable-in the near ' future. NEW CUN Y LAW BY THE (By Leased Wire to The Times.) Washington, Oct. 2J. A new cur rency InU will be introduced in the coming congress, to correct the evils (hat are responsible for the money panic. So declared Senator Elkins, (mo of the -big republican leaders in the national .-legislature this morn int, aflor ho hid had a long talk with President Hoosovelt. The aeua lor did not Kay in - so many words iliiit. the 'president' would back the bill, but intimated thai it, would have strong '..hacking from the dominant side of the house. "1 believe the worst of the panic is over," ho said, "and that things will now gradually resume their nor mal condition." Senator Elkins declared that the president could not lie blamed for it though caused i was to ;ome people contend that he ail. The only Ihing he did lur.i on the light,, and ":'that 1 may tent! have accoiuuated it,, to ,ome ex- KILLED THIS NEGRO (By Leased Wire to The Times.) Greenville, S. C, Or t. 25 Joe Swin- iney, a negro driver for the Southern ! Kxpress Company, died last night un 'der peculiar circumstances. One night " mnu f weeK -sn, n "? a , '...' . ... , T won m ,lnsl,'c e1. ln"ammati"n ?Ct ln ani1 pyaemia rteveiopen. l lie leg was nm putated but tlie pressed too far. poisoning had pro- PUIOSS SIK.4KS WKLIi OF "'PKACKFl'L VALLKY." Of "Peaceful "...Valley,", which appear ed In Greensboro night before last. The Record sayr: "If there ever was a play at the Grand that deserved a packed house 'Peaceful Valley,' as presented last night. Certainly did. The company of exceptional merit was headed by Edward Saxon, who es sayed the role of Sol Smith . llussell. Mr. Saxon is a splendid character comedian, whose acting is marked by rare Imaginative insight and delight ful humor." "Lvery void fulfilled the mission of the playwright, for it went home," concluded, the Richmond Times-Dispatch in an elaborate criticism of the play. Other papers have boosted "Peaceful Valley." and the show will no doubt lie witnessed by a packed house tonight. .- r - -'-v. Miss Mrbano Wry 111. the friends of Mr. C. If. Mebane wjll be pained to barn that his daughter. Miss lono.' Mebane, con tinues serloitsiy ill. She i. snffe'--ing from " apiiei.dicili;'. and iievo tinitl:'. Yesterday Mr. Mebane had her removed "from Xewlon to the Long Hospital in Statesville. XI CONGRESS SIM ONLY NECESSARY TO TREAT THE STOMACH Qlaim of Central Figure in Recent Controversy Is Novel. 7 The new theory advanced by L. T. Cooper relative to the human stom ach ' has attracted such widespread attention that the public ia 'Cities visited by the young man has been joined by many physicians in a dis cussion of his beliefs and medicines. Mr. Cooper says that human health is dependent almost entirely upot the stomach. He says that no dis ease can be conquered without first alleviating all stomach disorders. Ho further says that most men and women of this, generation are half sick, owing to degenerate stomachs And lastly, ho claims that his New Discovery mediefne will rejuvenate the human stomach in 90 days. .Cooper - has been traveling from one cit to another, conducting in each what he calls a campaign of education. For the past year he has met the public in the larger cities of the country, and his success '-'v -been phenomenal. Thousands of people have . nocked to his head quarters wherever he has gone, and the alo of his medicine has been bn yrfiid ninl !ii.i.-; of t.:ie kind ever be fore witnessed. Possibly the most, interesting fea ture of the- altcntian this young man has atlracted is what his army of followers, whom he has converted to his beliefs through his ".-medicines, have to say on the subject. The fol lowing statements are fro.n two well known residents of Chicago and Bos ton, respectively, and the enthusiasm of.. those is characteristic of Cooper'3 admirers generally. Mrs. H. Jl. MfH-l- of K2D1 St.nte street. ChieiiL'o, sm-s' "I lin-, ln,n I sii fieri ng for 12 years from a coin- liinatkm of stomac:i troubles, catarrh and consi ipn.iou. I had a gnawing SHIRTS EQUAL TO CUSTOM-lliA GARMENTS!" - 'Mm:: :-. Our new lines of Men's Snirts are of exceptional msrit, being the highest-grade ana the best fitting gar ments of the kind ever offered here. There is shown everything new and stylish la color, including the swell es'; full dress patterns, as well as the modest designs.. REGAL: SHOES'-; Sfi The magnificent new stock of Regal Shoes is now at ts best, and comprises all the ers. The Regal lasts are in a are no other makes the equal manship. "Ask Harry." LE E &, B ROUG HTON W. 1'. ROSK. V. A. WKSTON. , Rose & Weston, ARCHITECTS. Raleigh ami Orecnshoro. N. C. Steel Reinforced Coviprete, Fireproof Construction Specialty, . K, P. S. KELLER. ARCH I TEC T , RALKIGH, X. C. TTT1 - - 215 FAYETTEVILLE STREET, Formerly A. B. Stronach's Dry Goods Store. pain ih the pit of my stomach, a sort of, a dull pain that I could not quite understand. : Then there was a dull headache, .and my mind seemed to be wandering continually. I could not eat, and what little solid f,ood I did eat" I could not retain on 'my stomach. I tried every remedy I could think of, and also tried outa number of patent medicines, hut without any apparent result. It was througa one of my friends that f heard of Cooper's preparation, and I immediately decided to try some of it. It is two weeks since I took my first dose of it, and I feel like a , new wonian. The headache seems to have disappeared, and the pain in my stomach along with it. The medicine is worth its weight in gold, and I want to thank Mr. Cooper for what he-has done for me." , Mr. Edwin F. Morse, of 20 Oak ley street, Dorchester, a suburb of Eosto:i, says: "For three years I ',.:'.' :ic' a .well day. My stomach was in .frightful- shape; the mere thought, of food would nauseate me, and I really had a horror of anything to eat All solid food would cause me extreme indigestion, bloating and gas on my stomach, and nothing tasted fish;. Some time ago I got some of this Cooper's medicines; about which there is so much talk. I actually feel as well and strong as a boy ever since the first bottlry Every sign of stomach trouble hafOlisappcared, and I have a hearty appetite and eat three square meals; every tiling seems to taste good. Anyone who known what chronic indigestion h can appreciate what this- means to r.iK. i consider mis me most re markable medicine I ever heard of." We sell Mr. Cooper's medicines, and find them to be all ho claims.: j KIng-Crowell Drug Co, new and fashionable leath class to themselves. There of Regal in style or work- s ; AXXOrxCKMEXT. The undersigned have this day formed a copartnership to practice law under the firm nnmo and ntylo of Holding .i J'uiin. Our t.Hce will hn lor.uted In the Pullen IluMdlntr, groun i r.cor, Kaleigh, N, C, Just South of tho Court House. Wo will practice in Wnko County and In other Countle where our services are desired. This October 9th, 1307. J. N. HOLDING. J.'W. BUNN. Oct. 9 lm. ADI.r.K, IIKOS. tc CO, fj l I M Copydrlit, hi I f If k1. Iiir 1J lt, i 7 T v v. m 1 -" ' '',' ' !: 1 " S ' -"' . -'1' ,' "' ':' '-.- . -.' , .- .'
The Raleigh Times (Raleigh, N.C.)
Standardized title groups preceding, succeeding, and alternate titles together.
Oct. 25, 1907, edition 1
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