Newspapers / The Roanoke Beacon and … / Oct. 20, 1911, edition 1 / Page 8
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New News of Yesterday ZZ3 Camp's Ungratified Desire Former Manager of the New York Clearing House Had Consuming Ambition to Find One Day's . JExchanges Exactly Balance. One of the most famous managers In the history of the world's largest clearing house association that of New York city- was the late William A., Camp. He held that position for nearly a quarter of a century, and in that : time he carried the clearing house through two famous panics those of 1S73 and 1S93 and several lesser financial disturbances. No . financial history of the country ot the period from 1870 to 1894 would be complete without paying considerable attention to the activities of Mr. Camp a3 manager of the New York Clear ing House association and the work of that institution under his manage ment. Recently I told of the Improvised institution of research which Mr. Camp, as manager of the clearing house, conducted t-j test the mind's ability to count without external aid. Mr. Camp was a man of delightful whims, and this was one of them. But there was yet another whim which, had even greater hold of him. It became, in fact, the great consum ing ambition of his life as manager of the clearing house. "This institution," he said to . me one day, "is established for the pur pose of making it possible to ex change easily the checks and drafts which the banks that are members of the association have received upon de posit or which are drawn against these banks. Every bank comes here at a certain hour of the day with checks or drafts, which they call 'items,' that have been received upon deposit within 24 hours. Then the clerks go around presenting the drafts to representatives of each bank. In that way the exchanges are effected, for every bank is credited with the drafts which it has present ed for collection and is charged with the items presented to '. for collec tion. Then, if there be any balance, the bank must pay it in to the clear ing house, which settles with each hank. With this explanation in mind, you will understand the nature of the wish which has been with me every day when the Clearing House asso ciation opens. "It occurred to me, I should think, ! come ten years ago, that it would be a wonderful thing if one day's ex changes in the clearing house so ex actly balanced that there would be nothing to pay over. See what that would mean. It would mean that ail cf the sales and purchases of com- j Vain Offer of How George Jones Absolutely Re fused to Sell the New York Times So Contemplated Exposure Could Be Prevented. One hot day in the midsummer of 1871 George Jones, at that time pro prietor of the New York Times, took his accustomed seat in a little billiard saloon which occupied a part of the basement of the old Times building in Printing House square. Mr. Jones was very fond of the game of bil liards, although he did not play it himself, and It was his habit to spend a half hour at noon each day, if he had leisure, watching the billiard ex perts. On the day in question Mr. Jones was suddenly called from his place by a messenger who had evidently been sent from his private office on the main floor of the Times building. In that office he found u, lawyer and a man of business, both of whom he recognized at once as personal friend3 of William M. Tweed, who was the boss of New York city. r- "My father received the two gen tlemen very politely," said Gilbert H. Jones, who inherited the Times from his father. "He knew perfectly well what they had called for. He bad only, a day or two before gone over with Mr. Lewis J. Jennings, then the managing editor of the Times and afterward a member of the English parliament, all of the proof sheets of the first exposure of the Tweed ring. It was .through Mr. Jennings that the bargain was first made by which the Times came into possession , of the incriminating documents copied from the books of the comptroller of New York city, Connolly, who was a mem ber of the. Tweed ring. "After the formal greetings were over, one of the gentlemen said t my father that he had heard that the Times newspaper property was for sale. Father replied that he hai. not said to anyone that he was willing or anxiou3 to sell the Times. Then the lawyer said to nay father: "'I suppose you wculd sell the Times, Mr. Jones, provided you got the right kind of an offer for it.' " 'I don't know about that,' replied my father. "That might depend upon "bo wanted' to buy it.' "Well we are prepared, Mr. .Izr.sr-.' '.h lawyer cent:r.ued,- "to By E. J. EDWARDS I modities which were represented by these checks and drafts and which have taken place in any one day would exactly balance one another, just as if you swapped your pocket knife for somebody else's penholder on an even basis. The more I thought of this the more anxious I be came that it should happen at some time during my service as manager of the clearing house that the ex changes would exactly balance, so that there would not be a dollar to pay over to any one. And at last this became my pet ambition. "But though this desire came to me a full decade ago, I have never been able to see it gratified. There have been a few times when exchanges which aggregated a hundred millions or thereabout have been made with-a few hundred dollars' balance to pay. I remember vividly that one day I was overjoyed with the prospect that the exchanges would balance exactly. What a triumph that would have been! But I was disappointed at the last moment. And now, every day when I come here, I say to myself that I hope this is to be the day when the exchanges will exactly balance." Perhaps a year later I met Mr. Camp again and asked him if at any time during the year the exchanges had balanced. "No, not yet," he said, end then he added sadly: "But I feel sure it will Entered Law Circumstances of the Admission of Gerrit Smith to Bar of New York State a3 Told by Judge Davis. "I suppose that no lawyer who has been given a more or less prominent niche in the history of our county was older at the time of his admission to the bar than was Gerrit Smith when that event happened in his life," said the late Judge Noah Davis of the New York bench, who gained national prom inence in 1873 when he presided over the trial which resulted in the con viction of that arch grafter, William M. Tweed, on charges of forgery and grand larceny. Gerrit Smith the same Gerrit Smith who simultaneously was one ot the country's leading abolitionists and largest land owners, the friend of John Brown through all his adventures and yet one of the three men wno went on the bail bond of Jefferson Davis following his capture and im prisonment in Fortress Monroe after Boss Tweed make you an offer of five million dol lars for the Times newspaper, and if you would sell the paper, but wanted to keep the building, then the bar gain could be made with that in view.' "'Who wants to buy?' my father asked. "'We represent the parties; I don't see what it should make any differ ence to you who they are,' was the answer. 'We are willing to give a million dollars in cash and the rest in A-l securities.' " 'Well, said my father, 'it makes all the difference In the world who the parties are. I might sell the Times for five million dollars to a man who I know would maintain its good reputation; but, for example, I will say to you that I would not sell the Time3 to Boss Tweed or any of his gang if I were to be offered ten times five million.' " 'Why not?' the lawyer asked. " 'Because,' said my father, if I were to take any money from Tweed or his ring then I would become a participator in their iniquities and the Times would receive its share of their stealings; and sol think 1 Tiave said to you, gentlemen, all that is necessary to say in order that you may inform those whom you repre sent that the Times newspaper is not for sale to them at any price "A day or two later," continued the son, "the Times published its first ex posure of the Tweed ring, and from then on until Tweed and his gang were driven out of public life and public office my father kept up his fight against them." (Copyright, 1911. by E. J. Edwards. All Rights Reserved.) Fine Art Nut Cracking. "That new maid is a genius," said the young housekeeper. "She ha3 even found a use for the cooking thermome ter. Nobody ever used it to cook with. After I finished my course in the school of domestic sciences I bought a splendid thermometer be cause the teachers said I ought to. I paid $5 for it. It had a solid Iron bulb, and was warranted to stand any amount of wear and tear. In spite of my determination to cock by rule, that thermometer was a white elephant ir. the kitchen until the new maid came. She uses it to cruck nu.3 with." I happen before my time here ends." Again, some months later, I met Mr. Camp and again asked if the ex changes had balanced. "Not yet," he replied, "but I still have, hope that I will be able to re port that the exchanges have exactly balanced." Some time later, when I saw Mr. Camp after it became known that he was to retire from the management of the Clearing House association, he said to me: "I have carried this clearing house through some severe panics. The ag gregate exchanges effected here have been up into the trillions. But I have got to go away from here with one deep regret, for I never shall see the exchanges at this clearing house ex actly balance. And yet It might have been, for it was all chance, and fate ,was against me." (Copyright, 1011. by E. J. Kdwards. All Rights Reserved.) For Perfect Coffee. Java and Mocha coffees aro not su perior because of the locality of their growth, but for the way they are cured. The berry's sweet pulp, accord ing to the Tea and Coffee Trade Jour nal, must not be too much fermented. The thick, dry parchment shell and the thinly laced silver skin lying next the bean are unfavorably affected by overfermentation; the bean itself turns buck, and, eventually, to the discriminating quaffer, the coffee will drink "off." The Arabians are care ful in this process. at Fifty-Seven the close of the Civil war was fifty seven years of age when he became a member of the bar of New York state. And the circumstances of his admis sion, which he related to me, were ex ceptional. "Smith went to congress in the mid fifties from a New York district. About that time a runaway slave, known as Jerry, had made his way across New York state, had been traced to Syra cuse, and from that city had been able to cross Lake Ontario into Canada. So the United States marshal, acting un der the fugitive slave law, was not able to lay his hands on Jerry and re turn him to his owner; but he did se cure evidence, as he thought, whlcfc justified the arrest and prosecution of several citizens of Syracuse charged with aiding and abetting the escape of a runaway slave. One of these men was Moses Somers, at that time the editor of the leading paper of Syra cuse. The men were accordingly ar rested and taken to Albany to be ar raigned before the United States dis trict court. "As soon as Gerrit Smith heard of the arrest of the men his home was at Peterboro, a short distance from Syracuse he hurried to Albany, offer ed himself as their counsel, had his offer accepted, and appeared in the United States court with the accused men. Smith, let me explain, lor years had appeared before the state and fed eral courts, but he had never been admitted to the bar he had always appeared as next friend, a matter us ually very easy of arrangement in tne old days. But in this particular case the court, which had long been sus pected of pro-slavery leanings, refused point blank to permit Mr. Smith to ap pear as next friend for the accused men, even when Mr. Smith protested vlrorously that he had the right so to appear, and the cases were adjourned for a day to give the prisoners oppor tunity to obtain counsel who were members of the bar. "Late in tne afternoon of that day Judge Ira Harris of the state supreme court and afterwards United States senator the father ot the Miss Harris who sat in the box with President Lin coln the night of his assassination in Ford's theater, called Mr. Smith be fore him. "'Mr. Smith,' paid Judge Harris, i have just been told that the United States court this morning refused to receive you as counsel for the men who are accused ia the "Jerry" case, on the ground that you have not been admitted to the bar. Now, if you will come into my court tomorrow morning I will admit you to the bar ex gracla. You certainly have every qualification needed, and I have the right to admit you.' "So, the next day, Gerrit Smith, wno had studied law in his early man hood and had a wonderful knowledge of it, appeared before Judge Harris, was asked a few questions, was ad mitted to the bar. and received from the clerk of the court his certificate. Then he went to the United States court room and said to the Judge there that he was now a member of the bar of the supreme court of New York state and showed his certificate. He further stated that he was present to appear as counsel for the men ac cused in aiding the slave known as Jerry to escape. There was nothing for the court to do but recognize nim as counsel, and he menaged the case so well that the prosecution of tils clients was soon abandoned by the federal authorities. It was the first and '.act case that Gerrit Smith v.or. as a lawyer." (Copyright. 151!. by R J. 11 ward. ' -A I. R;s:-!l Flfirvp(l) - ELL OEAD AN EMINENT CIVIL ENGINEER HAS PASSED AWAY AFTER A "'SHORT ILLNESS. WAS SIXTY-NINE YEARS OLD Col; and Mrs. Cornell Were Making Plans to Celebrate Their Golden Wedding Anniversary Next Decern ber Was a Man of Keen Intellect, Winston-Salem. Col. O. H.-H. Cor nell, an eminent civil engineer, died here after a brief illness with uramic coma. His distinguished father, Ezra Cor nell, was a partner with Samuel F. Morse, who first conceived the Idea of the telegraph instrument, and to gether they built and owned tho first Western Union Telegraph Company. The father was also a founder of Cornell University. Colonel Cornell was a brother ot Alonzo Barton Cor nell, of New York. He was 69 years old and was a native of Ithaca, N. Y. He was married December S, 1861, to Miss Mary Louise Conklink, in Dry den, Thorapklns county, N. Y., and was educated at Cornell University. Colonel and Mrs. Cornell were mak ing plans for celebrating their golden wedding anniversary next December. A man of keen intellectual gift3, Colonel Cornell was one of the most interesting of men. His work as a civil engineer took him to many sec tions of the country where he had overcome natural obstacles and plant ed civilization In undeveloped regions. Not only was he 'highly versed In his chosen profession, but he was familiar with all the forces arising during the formative period of the nation and his knowledge of these things made him a most interesting conversationalist. Colonel Cornell was chief engineer cf the Southbound Railroad and in this magnificent specimen of the en gineer's are he has left a monument to himself that will endure. Represented in Moving Pictures. Aslwilie. Asheville, with other cities of the South, is to be repre sented ia moving pictures on the circuits covered by one of the largest moving picture houses in the country. The Vitagraph Motion Picture Com pany has sent here C. L. Fuller to secure views in and around Asheville, including Sunset Drive and Vance monument. The idea is to have the views of ten cities in the South on one film 1,000 feet long giving 100 feet for each city. The film will be sent over the circuit covered by the company and this has some 8,000, moving picture theaters throughout the country. Association Closing Session. Fayetteville. The closing day's session of the Cumberland Baptist Association, meeting in the First Bap tist church of this city, was devoted to . the interest cf periodicals and temperance. The report on periodi cals was mado by J.,. A. Parham, edi tor cf the Fayetteville Index, while an address on this subject by Rev. Hight C. Moore cf Raleigh was lis tened to with interest by the associa tion. Continues To Improve Terminal. Wilmington. The Seaboard Air Line continues to improve its termi nals in this city. Mr. J. A. Wallace, the well-known railroad contractor, with a force of 18 or 20 hands, is now engaged in doing some extensive grad ing in the northern section cf the city. It is understood that the Sea board will not only lay several addi tional tracks in that section but that a roundhouse will be provided. There Are Over 1,200 Tax Districts. Raleigh. Information from the state department of education is that there are now ov6r 1,200 rural local tax districts in North Carolina with reports cf new one3 coming in stead ily. From Gates eounty Superintend ent Costen reports an additional dis trict carried unanimously, this mak ing eleven local tan districts in Gatef county. Cel. Ludlow P.e-E!ected President. Winston-Salem. At the annual meeting of the Winston-Salem board of trade with remarkably large repre sentative number in attendance, Col. J. L. Ludlow was re-elected president by acclamation in recognition of his magnificent leadership of the organi zation during the last year. The mem bership now totals 629. Other officers were re-elected. The report of Secre tary and Treasurer J. S. Kuykendall showed a vast amount of definite re sults seeured by the organization dur ing, last year. District Attorney's Son Injured. Y"intcn-Salem. Master Theodore Hcltcn, a young son of United States District Attorney A. E. Ilolton, was painfully injured at his home cn Southsido by the explosion of a dyna mite cap, which injured his left hand and one of his eyes. The explosion occurred in the house. He was car ried to the hospital where the ampu tation of three fingers was found to be necessary. The extent of the in jury to his eye is not yet kucavn al though he could not see out cf it at last revert. COL 0 FROM ALL OVER THE s'TATE The Latest News That Has Been Col lected By the Editor From Many Towns and Counties. Greensboro. The cotton crop is at least four-Xfths open in North Care Una, and if the same thing prevails throughout the South the published estimates of a bumper crop are too large. Greensboro. Farmers should be ;areful to at least save all the peas they will need for seed and some to spare. They should remember that last spring seed peas sold for $2.50 to $3 per bushel. Raleigh. The names of sixty pa tronesses for the great marshal's ball to take place in connection with state fair were announced, there being thirty-five ladies in other parts of the state and twenty-five from Raleigh. Oxford. Tobacco market very act ive in Oxford. Over two hundred thousand pounds sold at prices very satisfactory to farmers. Sales lasted until six o'clock. Prices are getting higher every day. Winston-Salem; Snow Butler, a negro, was acquitted of murdering Charley Graves, another negro, by the use of poisoned liquor, the jury returning the verdict without delay and with t'he concurrence of the so icitor, in the superior court. Elizabeth City. Attorneys for W. D. Saunders, ia the case of the Uni ted States against W. O. Saunders, for using tho mail for the dissemi nation of indecent literature accept ed a verdict of guilty and Judge Con nor fined him $100 and costs in tho case. Ashebcro. The management of the Randolph agricultural fair and home coming week is kept busy these re maining two weeks, before its com mencement October 31. Thousands of people are expressing themselves of their intention to attend every day of it Many people from other states, who were born here, are coming. Hickory. The revenue officers re main active in this section of the state. Two cases have been disposed of before United States Commissioner L, R. Whitener this week. George Harrison of thi3 city was tried but for lack of evidence wa3 released. Zeb Stamey was tried and was held in bond of $500 for hi3 appearance at court. Raleigh. An official statement of the expenses of the, city of Raleigh for the past seven months shows a total expenditure of $76,371, the big gest item being $17,000. for street maintenance and improvement and the second largest $12,000 for the po lice department. The item of admin istrative department was $8,000 and that' cf health and sanitation $9,000. Charlotte. The Seaboard Air Line Railway came to the relief of the city of Charlotte in the wrater famine cf the past summer, offering tho use of its engines, tracks, and the services of employes at actual cost, presented Its bill to the . city at a mecfc.ing of the water heard, the sum bej ag $1, 415.31. This bill' will be settle with out delay. .. , H Newton. Mr. J. F. Holler, 1 mer chant cf Cliis's township, te3 us that the farmers of that secti-ft- are not having muah of their cotton gini museum jara showing the differences ned. They are picking it and doinSA ,rloi,la q0 f ty,a tttant up their other fall work and postponv ing the ginning till they are ready to sell. He says cotton and corn aro both better i: Cline's than people thought they would be. Cotton is al most as good as last year. Raleigh. Raleigh is to hold an election October 31 on the triple ques tion of the sale of the present city market house and apply the proceeds to the sinking fund of the municipal bonded indebtedness, sell it and pro vide a new modern market on the block in the rear of the present mar ket; or to remodel the present build ing. There is in progress an entirely new registration for this election. Durham. Desperate and insane, he doctors believe, as the result of pellagra, W. A. Carver, aged 40, and an operative in the Durham hosiery mill, shot himself through the head in an outhouse in his yard. Carver had, threatened to do this before but his 'family kept his gun from him. SHe secured it and went cut, the report later apprising the family of hi3 vio lence. He leaves a wife and four children. . Newton. Monday, October 23, will be made interesting at Catawba Col lege by the inauguration of Prof. J. F. Bucheit as president of the insti tution. For thi3 event one thousand invitations will be sent out. Among the guests will be numerous educators from other institutions. Winston-Salem. News was receiv ed 1 here that Mrs .Bruce Craven, of North Wilkesboro, accidentally shot herself with a pistol and that while the wound is regarded as quite seri ous, her condition is iavoraoie. une attending physician thinks she will recover. Durham. Notwithstanding all the talk of hoidL the crop, a large part cf the cotton of the South is market ed about as soon as it is ready for the market, and thi3 is perhaps one of the reason3 why prices are always lower at about this time of year. Raleigh. Cotton farmers cannot prevent gambling in their staple and tobacco farmers are at the mercy of the trust. But both can fight their ene mies, and v hiie waiting for public offi cials to enforce the law equally can holp themselves by raising more hog and hominy and reducing their cotton and tctacco crops. FLYING MACHINE AT ilGKLEfWG FAIR THE UNITED STATES "MARINE BAND WILL GIVE CONCERT ON OCTOBER 25. j LARGE CROWD IS EXPEC1ED Will Have Aeroplane Flights on the 26th and 27th With Many Other, Costly Free Exhibitions Some of These Are Given Below. The people of North and South Car olina will soon have their first oppor tunity to see real aeroplane flights. Mr. C. F. Hamilton, of the Curtiss school of aviators, who have won more aviation prizes than all other American flyers combined, has con tracted with the management of the Mecklenburg fair to make two flights here, Thursday and Friday, October 26 and 27. The fair officials have been careful to include in the contract the provision that the aviator must re main In the air for at least 3 minutes during each flight and that he must ascend to a height of at least 1,000 feet, thus assuring spectacular perfor mances which will no doubt prove the greatest drawing card of the present fair. The provision is further made that if there are no flights there shall be no pay, in which event the aviator would lose heavily, since he would have to pay all of his expenses, freight, etc. With the aeroplane flights the last two days of the fair and the world- famed United States Marine Band oa Wednesday, the 25th, and other less notable free attractions during all four days the fair people are giving probably twice as costly free and spec ial attractions this year as they have ever given before, and the difference will no doubt be reflected in the in creased attendance. It is of interest to note that the State, through Mr. F. S. Puckett, as sistant director of the State test farms, has arranged for a widely diversified exhibit at the fair, includ ing an exhibit of the handsome Per cheron stallion and grade Percheron. colts from the Iredell farm. The ex hibit of the state has been heartily welcomed, since it add3 'rnrjrhyabble value to the educational j&atarca m the event. It will consist of a variety of corn, showing height of stalk. height of ears on the stalk, size and shape of the es9r" S"fze of the cob and tween the yields of the different va rieties and the number of years these varieties have been tested. The dif ferent varieties of wheat and oats are to be exhibited, showing both the heieht. nf tho stalk and the errain. Isr rieties for the number of years they have been tested under average con ditions. There will also be an exhbiltion of the varieties of cotton that have prov en best adapted for the general crops on the several test farms that grow cotton. Has Predicted An Earthquake. New Orleans. According to Father Franckhauser of Loyola College, slight tremors and earth shocks which have been recorded on the seismograph at that institution he believes to be the forerunner of a more serious quake, probably of a destructive character, which will likely occur within a few days. A slight shock, apparently on the continent and at a distance of about 700 miles was registered. An other shock of minor importance was shown by the instrument and it grew In intensity until a disturbance of greater intensity than the two pre vious ones was recorded. Father Franckhauser says according to the best calculations available the distur bance is located somewhere in Mexico. Light on Long Ago Murder of Rulers. Vienna. Curious revelations about the conspiracy at Belgrade which end ed in the murder of King Alexander and Queen Draga in 1903 are being published in the Servian capital by M. Novakavitch, a lawyer. He says: that on the evening before the murders he obtained a quantity of chloroform, as it was the intention of the regicides to chloroform the Royal pair, and car ry them off to his vineyard, where they were to have been kept prisoners until the plot had completely suc ceeded. To Investigate High Food Cost. Geneva. The Swiss Government has ordered three separate depart ments to open an inquiry concerning the high cost of living in -Switzerland and the ever increasing price of food stuff. The inquiry is too to be made from three points of views, the custom tariffs, the Swiss laws on the control of food, and the way tariffs, so that the exact effect which each of these factors has on the cost of living may be determined at an early date. There Is general discontent in this country esnecially among the lower classes.
The Roanoke Beacon and Washington County News (Plymouth, N.C.)
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Oct. 20, 1911, edition 1
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