Newspapers / The Raleigh Times (Raleigh, … / Oct. 26, 1907, edition 1 / Page 1
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Only ; ilifdmobn Pdr Between Richmond ' LAST EDITION. . THE RALEIG. yOLUME SO. THE DANGER IS ' - 2 J So Soy Morgan, Rockefeller and HarrimaD PRAISE FOR MR. MORGAN England's Greatest Financier, Lord Itotschlld, Cables That' Morgan is a Man of Wonderful Resources and a Great Financier His .Unselfish (Remedial Action Applauded All ' the New York Ranks Arc Solvent, Including Those Closed Tempora rily -Optimistic Prospects for ' .Next Week. (By Leased .Wire.) New York, Oct. 26 Secre- tary Cortelyou this afternoon said that the financial sltua- tion was so well in hand and he felt so well assured that the stress - was over that he was going to Washington tonight. Before leaving ho will hold sev- oral conference with the lead- ing figures in the financial dls- trict. . The socretary of the treas- ury expressed his thanks to he newspaper press of New York for what he called the hand- some way they had acted to re ft assure the public. Ho said that the newspapers had helped wonderfully in calming ft the unwarranted apprehension that had existed. ft Andrew Carnegie, referring ft to criticism of President Roose ft vclt In some quarters and a ten- deucy In the financial world to ft place the blame for the pres ft ent financial upheaval upon ft him, said that ; he considered ft the action of the president and ft his cabinet, In forcing, some In ft dividual combinations to ob ft serve the laws, by salutary reg C ulatlons most excellent. Any ft attempt, he says, to place the ft blame tor the present financial ft slump on the president, is the ft result of political intrigue, ft Still referring to Mr. Rooso- velt Mr, Carnegie said: ; ft "I have believed for the last ft two years, that the Interests of ft the country would require and ft the republican party demand ft that our president should be re ft elected. Ho was elected only ft once. I see no reason to change ft my views on this matter, but on ft the contrary we are now cross ft ing tho stream and should risk ft no swap In our horses. An ft other term for Mr. Roosevelt ft would -enable us to secure a ft much needed safeguard of in w terests, and I think also Buch ft laws as will draw from exces ft Blve wealth a greater, but ,not ft an unfair condition to the ft national revenue." 4 ft ft . . ft Expressions of III? Financier. (By Leased Wire to The Times.) New York, Oct. 26. Tuo big flnan clefs today said: - Lord Rothschild: I have rccMnJ word that the situation seems to be hopeful and reassuring. I would like to add a word concerning the unselfish remedial action of Mr. Morgan., lie fore now it has been generaly recog nlsed and agreed that he is worthy of his reputation aft a great financier and a man of wonderful resources. His latest action Alls one with admiration and respect for him. ' J. Plerpont Morgan: Things look ' better and 1 think I can rent, now, The nght haa practlcaly been won. Toll the people of New York to. keep their heads and their 'money In the banks, and the matters will again be come normal. - John D. Rockefeller: It Is a great mistake for people to draw their mon ey out of the banks and put It where It will do no good. It Is clearly tho business of depositors, big and little, to furnish the remedy for the present muddle. They should recover , their 'composure and let the money do its accustomed work. i . Edward H. Harrlman: The banks of New'Tfork are perfectly sound and they will stand by the people as long as the people stand by them. To quickly return to normal conditions the people of New York must all pull together. All should be tolerant, pru dent and tool. I repeat the bank of New York are sound and entitled to support and co-operation of. the cltl sens of the city who wish for a speedy recovery from this passing spasm. (Continued on Page, Fiv.) ABOUT ALL OVER GOV. & COUNSEL IN WASHINGTON Another Meeting With Rail way People Today TO CONFER WITH COMER Prospects of a . Compromise Glenn Will Go to Atlanta and Attend Conference With Hoke Smith and Gov. Coiner of Alabama Tuesday. The Conference Last Kvening Was Not Satisfactory and Resulted in No Agreement On Anything. (Special to The Evening Times.) Washington, D. C Oct. 26. To day tho Southern. Railway officials, including President Finley and oth ers, and Governor Glenn and the at torneys on each side are holding an other conference looking to a com promise agreement on the railway rate law legal fight. Ai yet no word comes of any ar rangement satisfactory to both sides. Several propositions have been turn ed down. But it is yet probable that they will get togelher on common ground and agree on a compromise arrangement. The conference last evening was a total failure. '...' After the conferences here Gover nor Glenn will go to Atlanta (proba bly by way of Raleigh) in order to attend a conference between the Kovernor of North Carolina, Qoor gia and Alabama at Atlanta. Governor Glenn received a tele gram last evening from Governor Comer, of Alabama, asking that he meet him and Governor Hoke Smith, of Georgia, in Atlanta next Tuesday for the purpose of considering the whole situation. Governor Glenn will attend this conference, and It may result in a lino of policy which will bring to an end the troublesome tnd strained situation It is thought from certain indica tions that the case mlzht be settled by Borne sort of compromise, as ha.i been done in Alabama. Thero are indications that the railroads and the people of these Southern States which have passed anti-railroad laws may yet get to gether and in a way satisfactory to both. CAN'T USE THE NAMES 0FVV0MENING0ULO SUIT (By Leased Wire to The Times.) New York, Oct. 26. Mrs. Katherine Clements Gould has suftercd a set back In her suit tor a separation from her husband, Howard Gould, In a de clslon handed down by the appellate division of the supreme court affirm Ing a decision by the Supreme Justlc-j McCall striking out certain passages In Mrs. Gould's complaint. These passages related to charges by Mrs. Gould tliut her husband had consorted with various other women and that he ordered the superintendent of his estate to open her mall. Justice McCall ruled that these m' ters wer not properly Included In a suit for separation and could only bo mauo use or In a suit for divorce. RALEIGH MAN DYING IN DURHAM Durham, Oct. 26 Cecil G. Stono formerly of Raleigh, is critlenllv m at nis home in Durham and his ro covery Is not probable. Mr. Stone, who holds a position as foreman in the Golden Belt Manu facturing Company, has been 111 with typnoia rever for several days. Yes terday he began to sink rapidly and as night approached he Krew weaker. At midnight, or very near that time, it was reported that he was not ex pected to live through the nlcht. ' He U' young man, who has the connaenco and highest esteem of all who know him, and the fact that he Is so extremely 111 will bo read with regret by all. LESS GINNED THAN LAST YEAR. Washington, Oct. 26 The census bureau announced today that com plete returns from glnnen show that the total number of bales of cotton gtnned to October 18 "was 4,407,OG5, as comps"' with 4,931,621 last year up toie same date. The num. ber or active ginneries reporting this year is 24,934, with 26,125 Inst year. as compared RALEIGH, N. At . i J- I f 11 I ' ii ' tiW ; f lflt : r s - I f I ' Alt , i i ,T W - ' 4 Al I ? 1 " I I t h ill ! . $ ' " wo i, t'lfl i '1 ' 1 II A I i ,1 w s a, 1 i ?v8 hh-f jjfot - - V 3ii ivy U Dep ositors besieging the Knickerbocker Trust Co.. Building AMKS REFUSED PAYMENTS TODAY Financial Inslifullons Adopt This Method to Stop Huns on Banks (By Leased Wire to The Times. ) New York, Oct. 26.- -vAll of. tiw savings banks in New York today re fused to pay depositors on demand. Under an agreement reached at a meeting of their presidents last even ing the banks took advantage of the clause in their by-laws which per mits them to demand from 'ii tu MO days' notice from ' depositors who wish to draw on Aheir accounts. Notices were posted in all savings banks to tnis effect today, from the biggest, with deposits' of almost $100,000,000 to the smallest with deposits of only 117,000. The result was felt immediately. At those banks which had experienced runs the lines disappeared although many filed written notices of their inten tion to withdraw their deposits at the expiration of tho "0, CO or 90 day period, necording to whichever period tho bank adopted. A Ijet-tiy in the Huns on Hanks. (By Leased Wire to The Times.) New York, Oct. 26.-There was practically s$ end of the runs on tho Trust Comp.fny of America, the Lin coln Trust Company and other local banks today. The number of de positors in line was small and 'there was an entiro absence of the panic that has prevailed, since Tuesday. Ybo sub-treasury continued under tho direction of Secretary of tho Treasury Ueorge ; B. Cortelyou to poue streams of cash intp the threat ened banks. Trucks and wagons backed up at tho sub-treasury today and carted away gold,; silver, and treasury notes. One truck carried away 100 bngs containing $1,003 each which was sent to a Brooklyn bank. There was received from Washington; $1 0,000, 000 In bills of small denomination for which there-has been a great de mand. The Terminal Bank of Brooklyn suspended today temporarily nnd tho state bank examiner took charge. . No -other suspensions have been reported. The Btock market showed decided gains at the opening and In London there was a gain of from 1 to 2 points throughout the American list. The saving banks were amply pro tected today through the adoption of the sixty-day . clause governing withdrawals of deposits. This no tice was exacted on all accounU ex ceeding $60. Secretary Cortelyou declared fiat the situation was very bright. IDs view was shared by J. P. THorgau, James Stlllman and other leading financiers. , . Secretary of Treasury Still in New ." York. ..' .'. 1 Secretary of the Treasury Cortel you arrived at the sub-treasury at (Continued on Tago Five.) ' :'''. .'..".'..' -V- '-'.' and Atlanta With Leased Wire EVENING C, SATURDAY, OCTOBER William A, Nash, President of the Clearing House in Xew York, vt lio called a halt on (iu'winl gambling. OlISUAN SELLS LIQUOR, saio jyofiE (By Leased Wire to The Times.) Charleston, :V. Va Oct; 20 Former, State Squalor Henry- Clay GefzeiHlanher, owner of tho Charles ton A dvocate, has a ddresscd a' let I er to President. Koo: c.!Vclt severely .crit icising Cnited Stales Judge A. G; Dayton, of the northern distrid, formerly congressman from West Virginia. The letter attacks his con;- potency as a jiirn--t. Mr. Getzendau ncr bases his arnumeiit on t lie al leged ''Statement made In court by Judge Dayton in-Wheeling recently,' in a charge to t lie jury, In which he said: "No honest man ever sold liquor." Ho says a man occupying a judicial position', should noi-condemn before n trial. Judge Dayton, says the editor, might, with equal truth, have said "no honest man ever practiced law." Tho only excuse for. such an asser tion must be that tho tittorer thereof U-utterly devoid of a judicial tom pcrament and it sliowit so much bias and prejudice as to entirely unfit a judge to obcupy a giosition on tiie bench. The letter councludes with a request that J udgo Dayton be re moved. , KILLED MOTHER, THEN HIMSELF (Special to Tiie Evening Times.) Charlotte, Oct, 26 L. V. Iligh towcr, n well known citizen' of An son county, last night shot and killed his aged mother. This morn ing at nine o'clock ho cut his own throat with a razor at his home after telephoning for a physician to at tend bis mother. Ilightower had been drunk several days and is sup posed not to have realized the na ture of his deed. ' Six Killed, Twelve Injured. (Special Cable to The Timed.). London, Oct.: 20 Six persons were killed and. twelve Injured in collis ion at West llonipstetr this morning. Tho uccldent was caused by fog, the engineer of an eKpress bcln? unable to see the local standing nt the sta tion. ' ' .''" '"..'"' 26, 1907. in New. York City, after the WAS 0EL1GH ! Ell AMERICA (By Cable- to The Times,) London; Oct. -'C--Since !lie arriv: Vj of tho' Celtic.-front America today t! Lord Bishop of London has' been b'isvi tellinK his friends of the delijrhl;;; :f his visit and has been 'saying imuiy 1 good tilings about, . America. : The bishop has even 'acquired one or two expressive slang expressions. - . "I really had the time of my life," said - Div Ingram. "Th-jrttention paid to me by President Roosevelt and "the respect extended 1 by .the American peopfe generallyr'cou'plod with their delightful hospitality, havo made a deep impression on me." MRS, M'COHMiCK ASACOSTHI : ' (By Leased Wire to The Times.) Chicago-,-. Oct. Mrs. Harold MeCormiek, ' daughter of John D. iiocUefeller, aticuded a reception re- i rn,ny whero she was .startled. umnign not as niiicu as sin; lnlgiil have been, to see a dozen of ihe I'.iir j ones present arrayed in her former- gowns, Mrs, McCorniick' never wears -. n gown more man two nr.-,ihreo. tunes. BISHOP It is then- Hold, to u second hand deal-. j .'Vi':-to',;::h' !!ie liank 'V had an cr. ';".; Kecontly sonic of lieR.'..friond:, u,!::'' ' i fiai il v, o;! in ho case who were wt-alihy, but thrifty,- ukM ,:iiv i pOsi:or i-iovf than $25 und to liM.vo first bid on iter Worth treavj iv vwild (;'.!:: advantage of the llonrt.- . : i clai.s;' i:i its cliaric:- v. '.iicii permitted Sno called all these women tip two u r,..v,.an,i ;;o 'd;.s- notice of with- weeks ago and informed 'them twenty-five gowns, with 'uiis coats to match, were about to ;. the discard. The women calici. that ! Mtii : in j and .Me- ' .,!.! i there was -much trying on. Mrs. Cormick served tea, and then her guesls there would b" in ( li u ;,e for the gowns. , A week later Mrs. JlefVniiic.ii . al -: tended a 'recejitlon, where sin-: en- countered twelve of lier .former, row us on as many of lier fiiendfv. PLOT TO KILL (Special Cable to The Times.) -London, Oct. 2ti By tho arrest of a man giving his name as John Pearce the Scotland Yard authorities believe they havo nipped in the bud a plot to kill King Edward. Pearce was found loitering near the lodno ut tho Chippenham estate, and when questioned told tho detectives that he had been sent to kill a man who was shooting game. Chippenham is King Krwnrd's hunting preserve. KING EDWARD FRUSTRATED and Full Press TIMES-. bank had closed its doors. Bank Depositors Could Not Draw Exceeding ?25 and They Made a Rusli . (By Leased Wire to The Times.) . New York, Oct. 2G This being Saturday and a short business day, depositors in line at many of the Brooklyn banks became so unruly in their efforts to get near the head of the line that tho police were called on lo quiet them. The worst, disturbance was reported by the South Brooklyn Saving Bank, where the noiice tried in vain to . li.e'.'p more- than : 1 ,000 depositors, ' inos-ly women, in line. When it. was j realised that (lie bank would not be aiile to pay off all ot' them before the j closing hoar at noon iho line broke i'up and stampeded for the doors. ! Thero was a general' light in which ! nnn eacn oiner s I cloilics. fought, scratched and at- ! tacked eaclt oihcr. ; ; 'I' police reserves from the But I station were called and ifter in ,;ch .work 'they --'straightened out the line and restored order. t.w' 'e;.nKiior'-- wore m nnnie- . Hti-tcVp... .ulllt ' I'.ev . et ill - roinalnnd in -1 ATTEMPT TO WRECK SOUTHERN TRAIN (Special to The Evening Times,) .. li.iw Kive-, N. C. Oct. 20. An effort was made this morning to wreck No. 1 0S. train between Mc LeiiiMille and Gilisonvilie. A brake beam was placed on the tra k. The eimhie knocked it off lie- tiink and no damage resulted. A freb-lit t'ain was wrecked (it this same place a few months ago. I iit Street Car 'At rayettevllle. Spc(Ir.l In The Evening Times.) Kayeucviilo, N. C, Oct. SC. The tint car of the Fayetteville Street r''.ailw:iv Company passed over the hitie this morning..' It was filled with tltlzens wlio were given free excur sion rides by the street railway com pany. This corporation -is owned by W. D, McNeill, W. K, KIndley and others. It has fast neared comple tion extending over most of the city and It will be extended to all sub urbs and Hope Mills, a town, seven miles distant, south of which it will establish a very Important, connec tion between these two manufactur ing towns. ! POLICE CALLED ! ON TO PRESERVE MOREDEGOHUM IlsifpafcTiQjJ ALL THE MABEETa PRICE Is. IF STOCKS WHY NOT COTTdN TdO O S Treasury Asked for Loan of $10,000,000 FOB SOUTHERN BANKS Congi-rssman Burleson Asks One Third as Much as Was Loaned Wall Street' for the Sonth in Order to Prevent the Sacrifice of Cotton. Northern Hunkers , Have Served Notice on Owners of Cotton That There Will He No More Loans On ' Cotton in Storage. ( By Leased Wire to The Times.) Washington, D. c;, Oct. 26. Repre sentative Burleson, of Texas, yester day called on Acting Secretary of the Treasury Edward and asked that d" poslts to the amount of $10,000,000, one third of the amount deposited in New -i oik to check the Wall street panic, l).: .Jis'ributed among the south-MP. barks.. -'in order to prevent sacrifice .if cotton. He was told that however much the department might be disposed to do this, it would not now be possible, as tho depo.sits already made left the treasury with barely a working casn balant-o. Mr, Burleson' was led to make hxs application at the department by tho statement -.'made in press dispatches from Houston, Texas, that bankeis have served notice on owners of cot ton in warehouses that they will no longer make advances on cotton to bo held in storage, the explanation of ihl Iving that the bankers feel that by forcing the sale of eotton in storago they will bring millions of much need ed foreign money to this country. Mr. Burleson takes the position that there Is as much reason to avoid sac riftc sales of cotton as there is to avoid sacrifice sales of stocks. He sees In this withdrawal of bank accommodations to warehouse cotton a proposition to sacrifice the farmer pioducer of cotton by making him sell under price, In order to assist the hold- . ers of stocks la Wall street o protect themselves against the necessity of throwing their stocks on the market' ct a sacrifice. '" ' '' ; ;., He called the attention of Secretary Edwards to the provision of the re cent law that the secretary of the treasury shall "distribute the depos its herein provided for, as far as prac ticable, equally between the different slates and sections," and also to the policy of the treasury to Interpret the provision for security "by United . States bonds or otherwise," so as to pi'tmit the acceptance of other than United States bonds as security for di posits. His proposition Was that the treas ury should distribute $10,000,000 of de posits among the southern banks, ac cepting from the banks as security warehouse receipts for cotton at 25 per cent of the market value." He reported to the secretary that these warehouse certlflcaetes would bo much better security than any munici pal bonds now accepted to secure de posits In that they represented an actual value four times greater than the amount to be secured, and that by having the : deposit of $10,000,000 in southern banks, at this time, tho cot ton growers mlght.be saved from mak ing a sacrifice to foreign purchasers of practically $150,000,000. Secretary Edwards replied that In the matter of accepting from the banks warehouse certificates for cot ton as security, there was Involved a question of policy which he could not pass upon and which would have to be presented to Secretary Cortelyou, but that independently of that the de posits could not be made at this time because the department was reduced to an actual working cash balance by deposits already made. IS TOIBE SOLD Q Providence, R, .I.,,Qct. 86.- Wil liam Sprague. Rhode Island's famous war governor, has advertised, fpr .sale his magnificent estate, "Canonchet," assessed at. 11,000,000 and counted as one of the show places of Rhode Island. His pride, wrecked, by. the recent marriage of his granddaugh ter, Inez, to Harry WHJtam SUness, son of Judge Stipess, wh,o. is tie, old governor's bitterest enemy, ho . has decided to dispose of hla real estate and quit. America to live abroad. He will take his young wife. He will leave forever the place where Horace Greeley, Presldont Garfield, Benjamin F. Butler,' Samuel J. Tiidon, and scores of others were entertained, by Kate Chase Sprague, the governor's brilliant first wife. CANOIHET
The Raleigh Times (Raleigh, N.C.)
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Oct. 26, 1907, edition 1
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