davidaulloa/AmericanStories huggingface dataset:
The Savannah morning news., 1903-01-04
L0CKJAW AT CHARLESTON.
Seven Boys Have Died From 1t Sine,
Christmas.

Charleston, S. c.. Jan. 3.-Seven
boys, five white and two colored, have
died here of Iockjaw since Christmas
day.
Their injuries were received from toy
pistols, and the situation is considered
serious. as other children are i'll with
the disease. Health officer Green de-
clared in an interview to-day that he
thought the sale of toy pistols should
be prohibited in the city in the future.
He said that there seemed to be some
thing in burns and injuries received
from the ammunition used in toy pis-
tolls that brought on lockjaw.
The people of the city are much stir
red up on the matter.
The Savannah morning news., 1903-01-04
NEW FISH COMPANY.

The Sarasota Ice. Fish and Power
Company is a new and strong combi-
nation of Manatee county capitalists
who have Joined themselves together
to manufacture ice and electricity and
to operate fish and mercantile bust
ness at Sarasota, situated twelve
miles south of Braidentown on Sar-
asota bay and on the line of the Sea-
board Air Line Railroad. The COM
pany has already purchased the plant
of the Lyle Ice and Trading Company,
which will be moved to Sarasota. 1t is
proposed to add a new ten ton ma
chine to the plant in order to accom-
modate the big fish business which the
company will carry on from that point.
At a meeting of the stockholders held
in Braidentown the following officers
were chosen: w. G. Hayman, presi-
dent; f. r. Wilson, secretary; J. l..
Wilhelm. treasurer. with S. D. Futch,
J. L. Wilhelm and Frank c. Arm
strong is directors.
The Savannah morning news., 1903-01-04
TRADE AND FINANCE.


notably firm throughout. Manhattan
was weakened by the requirements
made upon the company by the state
Railroad Commission for increased
equipment.
Bonds have shown strength in sym
pathy with stocks, but the principal
activity has been in the speculative
contingent paying issues. United States
rs, old As and new As coupon ad-
vanced "a per cent. as compared with
the closing call of last week.
Total sales of stocks to-day were
4l81O0 shares, including Atchison, H.
600: Baltimore and Ohio, 10, 400: Chi
cago Great Western. $500; Erie, 3d.,
ZOO; Manhattan, L, 300; Mexican Cen
trail, $500; Missouri Pacific, 16,400;
Pennsylvania, 12,200; Reading, $4,000;
st. Paul. 25,400; Southern Pacific &c.,
200; Southern Railway 5000; Union Pa
cifc, 20, 500; Amalgamated Copper, H.,
300; Brooklyn Transit, $780, Sugar, 12,
800; United States Steel, 10, 500; do
preferred 10000; Rock Island, 10000.
New York SfocL mud ROnh Lat
The Savannah morning news., 1903-01-04
Coastwise Exports.

Per steamship Kansas City to New
York, Jan. al ,447 bales upland co..
ton; 545 bales sea island cotton; 549
barrels naval stores; 312 tons pig iron,
s. 800 packages general merchandise.
Per steamship Allegheny for Phila-
delphia, Jan. 3.-205 bales cotton; $50
barrels rosin; POS barrels turpentine;
7O,9O3 feet lumber; 54S boxes oranges;
50 tons pig iron; 222 packages vege-
tables; 325 packages clay; Z bales lint
ers; 286 packages yarns; 377 packages
merchandise.
Per schooner Rebecca NJ. Walls, for
Philadelphia,-377,7 1874 feet lumber.-Jno
A. Calhoun.
The Savannah morning news., 1903-01-04
THE CHAVEZ TRIAL.

The Chavez trial is progressing
slowly. The case was called Thursday
morning. Almost the entire day was
taken up with the selection of the jury.
The prisoner was brought into court,
and aside from being a little pale.
owing to his recent indisposition, he
looked as cheerful as ever. He seemed
unconcerned in the proceedings. and
would occasionally laugh and Jest with
some Of his relatives who are in at
tendance. The large room was crowd
ed with spectators. 1t is likely that the
judge will order night sessions in order
The Savannah morning news., 1903-01-04
Miscellaneous.
OCEAN FREIGHTs.

COTTON-Savannah to Boston, Der
100 pounds, 25c; to New York, per loo
pounds zoe to dock: CSC lightered; to
Philadelphia, per bale. $780, Balti-
more, $1.00.
FOREIGN DIRECT Genoa, 3Sc:
Hamburg, Csc; Barcelona, 40c; Trieste
4Oc; Venice, Acc; Bremen, 24c: Havre,
&c; Rotterdam and Amsterdam, 22c;
Liverpool and Manchester, 26c; Ant
werp. &c.
LUMBER-By Sail-Freight, active,
to Baltimore. $500; to Philadelphia
$4.75; to New York, $5.621k; to Port
land. $500.
LUMBER-By Steam-Savannah to
Baltimore, IS; to P. r. r.. or B. and
o. docks, $3.50; to Philadelphia, Is 2-3
per cwt. a pounds to FOOT; to New
York, Sc per. M. to dock; lightered,
1915; to Boston, to dock. SS25.
The Savannah morning news., 1903-01-04
WEEKS DIED FROM BLOW.

Jacksonville, Fla, Jan. 3.-w. w.
Weeks, grocer on the shell road,
just out side the city limits, died this
afternoon %as the result of one of
the most brutal assaults that has ever
occurred in this vicinity. Last Thurs
day night a negro came into the store
and asked to look at some cabbages.
While the grocer bent over a basket,
the negro raised a club and struck him
over the head, fracturing the skull. The
negro then rifled the store and. escaped
into the darkness.
The Savannah morning news., 1903-01-04
COMMISSIONERS SMART
UNDER HIS CHARGES

Atlanta, Jan. 3.-Smarting under
charges made by Capt. James w.
English, chairman of the Board of
Police Commissioners, to the effect that
the police department is not being run
for the public good, three members of
the board, George E. Johnson, S. w.
Day, and w. H. Brotherton, have filed
petition with Council asking for
an investigation. Capt. English claim
ed that members of the board were
more interested in their own personal
business than that of the board or
the department, and dared them to
deny it.
The investigation, If had, may prove
an interesting one.
The Savannah morning news., 1903-01-04
ELECTION AT JESUP.

election was held here to-day, to select
mayor, three aldermen and one
member of the Board of Education.
The following were elected: Mayor, T.
c. Slower; aldermen, C. C. TindaH, A.
w. STRIPPING and F. E. Breen; member
of the Board of Education, Leonard
Carter. The Mayor is elected for one
year. and the aldermen and member
of the RDard of Education for two
years. The election was very quiet,
there being. only one ticket in the field.
The Savannah morning news., 1903-01-04
CHRISTMAS IN pHE EVERGLADES

Bill Brown, the well-known Indian
trader, went to Braidentown from his
Everglade Seminole Indian store, with
his OK teams Wednesday, carrying
ninety otter, $50 gator and twenty
coon skins. Bill celebrated Christ
mas in the Everglades by giving a
dinner to nineteen Seminoles, all
of whom made way with the English
plum pudding and other good things
set before them,
The Savannah morning news., 1903-01-04
GEORGIAAND FLORIDA
THE STAR ExTINGUIsHED.

Albany's morning daily, The Star,
has suspended publication. In his
valedictory Editor and Publisher j.
r. Whichard thus explains the cause
of suspension: This step has been
decided upon because it has been
found impossible to get satisfactory
assistance in the mechanical depart
ment and the strain is too great upon
the physical and mental power of the
small force that has gotten out the
paper. The limit of endurance has
been reached and the task is laid
down" The Star was established
three and one-half months ago.
The Savannah morning news., 1903-01-04
HIS FIREWORKS WENT OFF.

Harry Jones, a 13-year-old white
boy and stepson of Mr.. Frank Foun-
tain of Cordele has been in a critical
condition and near deaths door for
week, from the effect of fireworks on
Christmas night. The little fellow
had a number of roman candles I'M
der his shirt on Christmas night and
the fire from the one he was shooting
in some way ignited the bundle and
the discharges badly burned his body,
neck and face,
The Savannah morning news., 1903-01-04
FARMERS, INSTITUTE.

Tallahassee, Fla, Jan. 3.-The Agri-
cultural Department of the Florida
Agricultural College is making ar
engagements to hold a farmers insti-
tute in every county. Mr.. c. NJ. Con-
ner, superintendent of the Institutes,
is working enthusiastically to make
the meetings a success.
The Savannah morning news., 1903-01-04
FLORIDA.
COUNTERFEITER UNDER BOND.

Richard Peterson, the white man
taken to Pensacola Monday on the
charge of countefeiting, was given a
preliminary trial before United States
Commissioner Tunison and was held
for trial in the United States Court,
under a bond of 81, 900.
The Savannah morning news., 1903-01-04

as possible. a large number of wit
nesses have been summoned. The prin-
cipal witness in the trial will be Mrs.
Charles ]. Allen, the widow of the man
who was killed
The Savannah morning news., 1903-01-04

Pilot charts and photographic in
formation will be furnished masters of
vessels free of charge in the United
States photographic Office. in Custom
House. Captains are requested to call
at the office. Reports of wrecks and
derelicts received.
The Savannah morning news., 1903-01-04

WOOL-Firm; prime Georgia, free
of sand burs and black WOOL 19c;
black. Ice; bury, 10@12c. Wax, Csc;
tallow. &C.. Deer skins. zoe.
hardware and Building Supplies.
LIME, CALCIUM, PLASTERS AND
CEMENT-Alabana and Georgia lime
in fair demand and sell at S5Q90c a
1.50 per barrel; hair. 4Q5c; Rosedale
cement, $1.20Q1.25, carload lots, spe-
cial Portland cement, retail, $2.75;
carload lots. $1.90@2.00.
LUMBER-Market Arm. Quotations.:
Sawn ties,per M feet, $3.50; hewn ties,
Gx9xS1a), 4Oc each; switch ties, $500;
minimum, easy size yard stock. $l4.50
@15.OO; car stills. $16OOQ1s.OO; ship
stock, $3.50.
OIL-Perfection Signal Oil, 42c, in
barrels; Pratt's Astral, 151ac, in bar
rels; Alladin's Security, 141ac, in bar
rels; Water White, 1414c, in barrels;
Standard White, 1870, in barrels; D.
S. Gasoline, in barrels, Ice; D. S. Gas
oline, in drums, lac; sc degrees Case
line, in drums, 1Sc: So benzine, in
drums, 1315c; linseed oil, raw, 55c;
boiled, SIC; lard oil. ole.
SHOT-Drop, $1.45; B. B. and large,
$40; chilled. $1.70.
IRON-Market firm; refined $3.50:
Swede. SC.
NAILs-cut. $40 base; wire. $40
base.
BARBED wIRE-*a.4O per 100
pounds.
GUNPOWDER-Per key, Austin
crack shot, $3.50; half key, $3.50: quar-
ter kegs, $40; champion ducking,
quarter key. s2.25: Austin smokeless.
half kegs, $3.45; quarter, 1870; three
pound, $2.10; one pound, 75c: less 20
per cent. on smokeless.
Cotton Bagging and Ties.
BAGGING - Market firm: jute, 2
pound, SIC; sea island bagging. 12c.
TIES-Standard 45-inch arrow, large
lots. s1.10: small lots. $1.20.
Bacon, Hams and Lard.
D. s. butts NEUTRALITY-SUSPICIOUS.. TIC
-. ). plates .'...:............... SIC
Western heavy bellies .10hc
Eastern light bellies ............11 C
Eastern medium bellies 10A
Eastern heavy bellies ............10%
D. S. c. r. sides .10Ac
Smoked G. r. sides ............ .113sc
HAMS-Sugar cured, 14@15c; picnic
hams, 103s@10Ac.
LARD-Pure, in tierces, 11%c:
5O-pound tins and S0-pound tubs, 12c;
compound, in tierces, sac: 5O-pound
tins. and S0-pound tubs. sac.
miscellaneous.
FIsH-MackereI, half barrels. No.
$3.50; No. 2, $S.75; No. 8, $500; kits,
No. 1. s1.S5; No. 2. s1.20; No. 8, s1o5; cod
fish, 1-pound bricks, &c: 2-pound brick,
SIC; smoked herrings, per box, $50
tic. Dutch herrings, IN kegs, ;1.10;
new mullets, half barrels, 1918
SYRUP-Market quiet: Georgia and
Florida syrup, buying at 26@27c:
selling at S2Q321Ac; sugar house at 15h
Q1Sc.
HIGH WINES-Basis. $1.31.
HONEY - Fair demand: strained. in
barrels, 40c gallon.
The Savannah morning news., 1903-01-04

Steamship Allegheny, Ryan. Philadel-
phia,
Steamship Kansas City, Smith, New
York.
Bark Hertha (Nor.), Petersen, Per-
nambuCO.
The Savannah morning news., 1903-01-04
COTTON SEED OIL

New York, Jan. 3.-Cotton seed oil
steady, but quiet; prime crude here
nominal; prime crude f. o. b. mills,
S019@31c: prime summer yellow, $3.50
39c; off summer yellow, 38c; prime
white, 41@42c; prime winter yellow,
42c; prime meal $27@27 so nominal.
The Savannah morning news., 1903-01-04
FROM WATER FROM
MOVEMENT OF LUMBER TO BOSTON
MAKES A START.
EXPORTERS GET FACILITIES.
LUMBER TRADE WITH THE HUB
PROMISES TO GROW.

Fewer Vessels This Year to Arrive,
But More Business-Cementf for In
terror COnsignees-Matters of In
terest to shippers.
The movement of lumber by the Bos-
ton steamers has started upon a small
scale, with the prospect of increasing
as facilities are provided. The City
of Memphis on her last trip to Boston
carried a small amount of lumber,
about 5000 or 10000 feet. The local
exporters are anxious for the facih-
ties the Ocean Steamship Co, has pro-
vided, for it was thought at one time
that the boats on this line would be
open for engagements of cotton only.
If the lumber trade between Sa-
vannah and other Northern ports, such
as Baltimore. Philadelphia and New
York, is taken as indicating what the
trade with Boston viii amount to there
is reason for believing that the next
few months will find a material in
crease in the exports. Lumber eX-
porters are pleased with the prospects
they have for direct transportation
facilities with the Hub.
The Savannah morning news., 1903-01-04
CHICAGO GRAN MARKET.

Chicago, Jan. 3.-There was renewed
liquidation in wheat to-day due to
bearish foreign advices and the close
was easy with May, &c lower. May
corn was shade lower, while oats were
shade higher. Provisions closed
weak, May, TIC to Csc lower.
The leading futures ranged as fol-
lows:
The Savannah morning news., 1903-01-04
Foreign Exports

Per bark Salvador Talavera (Sp),
Alicante Spain, 1882 pieces lumber,
(555.37S feet), ss,79O.-Esteve & Co.
The Savannah morning news., 1903-01-04
Notice TO Mariners.

Bennett. South Amboy; Oracle
Buchanan, Harrington. New York.
The Savannah morning news., 1903-01-04

River Report The hight of the Sa-
vannah river at Augusta, at s a. m.
G5th meridian time). yesterday, was
9.S feet. a rise of .04 foot during the
preceding twenty-four hours.
Observations taken at the same mo-
ment = time, Jan. 8, 1902. p. m, 18th
meridian time.
The Savannah morning news., 1903-01-04

S<AG L-N~eI lotSs 1uV POUNDS OurlaD
sacks. S9c; 100-pound cotton sacks, 4Oc;
l25-pound burlap sacks, 49c; 125-pound
cotton sacks, soc: 20O-pound burlap
sacks, nc.
HIDES-Market fine; dry flint.
121zc; dry salt, 1O1kc; green sailed, &c.
The Savannah morning news., 1903-01-04
Fewer vesseIs-More Trade.

While there are fewer vessels ar
irving in Savannah this year than last
the falling off does not in any way
effact the amount of business being
done. The business of the port Is
proportionatey as much larger than
last year as the number of vessels to
arrive is smaller. Shipping firms are
bringing big carriers to Savannah,
which haul the naval stores and lumber
formerly taken in sailing vessels. Cargo
taken as ballast in some of these large
ships would make a cargo for the
smaller vessels formerly engaged in this
trade.
The Savannah morning news., 1903-01-04
ARRIVALS AND DEPARTURES.
Vessels Cleared Yesterday.

Bark Elizabeth Ger, Miller. Bremen
Cement-Dahl & Co.
The Savannah morning news., 1903-01-04

Passengers for New York by steam
ship Kansas City. Jan. 3.-Mrs. H.
Blum, w. c. Gookin and wife, Miss K.
E. Blum. ]. S. Stiger and wife, Miss E
S. Quicker, A. j. Markell, Mrs. M Me-
Donough, d. C. Wheeler, Mrs. o. X.
Kibby L. H. Egan, G.. P. Henry, John
Brennan, p. H. Morrison, Mrs. II. A.
Dun, Miss Dent, Miss M. Randall, Chas.
Mills, NJ. r. Maclean, ]. j. Warning, A.
]. Warning, r. l.. Karow, c. ID, Pierce,
Miss L. e. Carpenter, S. Jenkins, Miss
J. e. Rankin, Thomas Hilton, f. Ham
mond, S. Otto, Chas. Kinnie. E. II.
Finnie. r. L. Schley, Eugene F. Jette,
H. F. Hamel, DR.. +. L. Taylor, Miss
NJ. Markey, Eugene d. Jrustrom,
Annie Cooper. M. Baurman, ]. c. Tuck
er, Winnie Tucker, 1. Tucker, Anna
Tucker, M. Tucker, Fannie Tucker,
William Tucker, Richard Harper, Mary
Harper, William Harper. Alex Harper,
SWash. Harper, Mollie Harper, Chas.
Grays, A. Grays, Howard Fuller,
Paulk, Minnie Paulk, b. ]. Scott, A.
Scott Nose Clayton, Maggie Chester,
Henry Scott, Rhoda Scott, Mary Scott,
jamie Scott. Josephine Scott, Joe Scott,
John Scott, Mary Fulke Tiney Scott,
Elijah Scott, Remia Luke, Sweet Scott.
savannah Almanac, 18th Meridian
Time.
Sun ries at 1924 a. m. and sets at
5:33 p. m.
High water at Tybee to-day at II :O1
a. M, and 1871 p. m. High water at
Savannah one hour later.
The Savannah morning news., 1903-01-04
Vessels Sailed Yesterday,

Bark Salvador Talavera (Sp.), Maris-
tany, Alicante.-Master.
The Savannah morning news., 1903-01-04
Cement for the Interior.

The German bark Elizabeth arrived
yesterday from Bremen with cement
and locked at the Seaboard Air Line
docks. The cement will be discharged
into cars on the island and shipped to
interior consignees. Up to a short time
ago much of the imports of cement
were to local consignees. There is an
increase in imports through Savannah
to the interior, which is regarded in
shipping circles as an indication of
larger development in local import
trade.
The Savannah morning news., 1903-01-04
MISCELLANEOUS MARKETS.

Note-These quotations are revised
daily and are kept as near as possible
in accord with the prevailing whole
sale prices. Official quotations are
not used when they disagree with the
prices wholesalers ask.
Springers, 25050c; hens.
60@70c; ducks, soc.
EGGS - Tennessee, 22@23c; Georgia,
country, 2O@21c.
BUTTER-The tone of the market is
firm. Quotations: Cooking, 24c; New
York state, 2S@29c; Elgins, SO@31c.
CHEESE-Market firm; fancy, full
cream cheese, 1917 @14c for 20 to o.
ages, 1870.
White Pea Beans. $2.65 bushel.
Potatoes, $2.25@2.50 per barrel.
CABBAGE-$1.50@1.75, crates or bar
rels.
BreadsruTs, Hay ana Grain.
FLoUR-Patent, s415: straights
50 80; fancy, 1910; family, So. 40;
spring wheat, best patent, $4S5.
MEAL-Pearl, per barrel, $40; per
sack, $1.55; city meal, per sack, bolted
$1.40; water ground, $3.50 (Pierce)
city grits, sacks, S1.45; pearl grits
Hudnuts, per barrel. s3.40: per sack
$3.50.
CORN-The market firm; white. jot
job lots, 69c; carload lots, CSC.
OATS-No. q mixed. carload lots,
45c; job lots, 41c; white clipped, cars
47c; job lots, sic.
BRAN-Job lots. s1.O5; carload lots,
800.
HAY-Market steady; No. timothy,
job, $1.15; cars. $11O.
RICE-Market steady; demand good;
fancy head, &c; fancy, Sac.
Prime ........:.. .................5
Good ...................." .4h94%
+ air ........... Az Q41z
Common NEUTRALITY-SUSPICIOUS..
Rough rice. 75c@s1.0O per bushel, ac-
cording to quality.
Fruits and Nuts.
APPLES-Fancy reds, $3.5O@4.0o.
ANANAS-$1.25@1.75.
PINEAPPLES-s2 rs crate.
ORANGES-$3 .OO@S.25.
LEMONS-Market steady at $3.50.
PRUNES-2Os to 3os. 1O1Ac; 3Os to 40s,
9Ac; 40s to sos, 7%c; sos to COS, &c;
COS to 7Os, 61zc; 7Os to sos, SIC; sos to
90s, SIC; COS to zoos, 412c.
PEANUTS-Ample stock, fair de.
mand; market firm: fancy hand-pick-
ed Virginia, SIC; extras, 4%c; N. c.
peanuts, 414c.
NUTS-Almonds, Terragona, 15hc;
Ivicas, 1415c; walnuts, French, 12hc;
Naples, 15c; pecans. 13c: Brazfls. 10c;
f1lberts, 1115c; assorted nuts, 50-pound
and 25-pound boxes, 12hc.
Dried and EvapOrated Fruits.
APPLES-Evapora &c; sun-dried,
&c.
APRICOTS Evaporated, lie
pound; nectarines. 10hc.
.1 5A1SIs scrown1 L. 500. e.: s 4cfowa
clusters, S275; loose muscatells, TIC;
lib seeded, 91ac; imperial cabinets, =;
loose, 50-pound boxes, pound.
PEACHES Evaporated. peeled,
Ice: unpeeled, sc.
PEARS-Evaporated lie.
CITRON-A. F. drums Fancy Cor
sican. in 10-pound boxes, 13c.
URRENTS-Barrels, SIC; 25-pound
boxes, &c; 1-pound cartons. TIC.
sugar and Coffee.
The Savannah morning news., 1903-01-04

The schooner Rebecca NJ. Walls, and
the bark Salvador win sail to-day.
The Savannah morning news., 1903-01-04

The tug VIM. F. McCauley picked up
an unknown bark off Tybee yesterday
and proceeded south with her in tow.
The Savannah morning news., 1903-01-04
THE WEATHER.

Morning News barometer, Jan.
3, 1880 p. m. ....................29. SO
Morning News thermometer, Jan.
3, 11:3O p. m. .................... IS
Washington, Jan. 3.-Forecast for
Sunday and Monday:
For South Carolina: Fair Sunday
and Monday, except occasional show
ers on the coast; fresh west winds.
For Georgia, Eastern and Western
Florida: Showers Sunday and proba-
bly, Monday; light variable winds.
Yesterdays weather at Savannah
Maximum temperature 12:3O
The Savannah morning news., 1903-01-04

H. B. Boyer,
Local Forecast Official.
The Savannah morning news., 1903-01-04
Baxter q Co.'s stock Letter.

Baltimore. Jan. as. A. L. common,
7B; do preferred, 44H; bonds, S3h.
The Savannah morning news., 1903-01-04

High water at Tybee to-day at II :01
a. M, and 1871 p. m. High water at
Savannah one hour later.
The Savannah morning news., 1903-01-04
savannah Almanac, 18Th Meridian

Time.
Sun ries at 1924 a. m. and sets at
533 p. m.
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-09-07

no more honorable than the use of mind.
Nor is the handling of money any more
honorable than the handling of a pick 1t
is the character behind the muscle and be-
hind the money. the purpose behind the
effort which determines its dignity and
worth from a social standpoint. Glasses
are not built upon the relative productive
ness of the individual.
When men without distinction of employ
ment recognize these facts, when the poll
tician and the moralist teach them. when
the reformer bases his plans upon individ-
ual worth and its unity OF effort, then the
agitation of such questions as the labor
problem will be purged of false sentimental
ity, of falsely assumed conditions. and will
really take rank among tine great social
and political questions which determine
the progress of humanity as a whole, and
will help TO solve those questions which are
now uppermost in mems minds as to the
methods OF bringing men together on the
higher and more dignifed planes of exist
ence and of effort; eliminating the struggles
between classes and doing away with tie
antagonism which exists by reason of mu-
tual MISUNDERSTANDING
The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-09-07
SECRETARY SHAW AND THE ST.
LOUIS BANKS.

The secretary of the treasury has an
nounced his intention of relieving a Tempo
rary strain on the st. Louis national banks
by depositing in five Of them 2,5OO,UO on
state and municipal securities. Thus the
public has not had to wait long for an APP
plication of the secretary's new policy rela-
tive to the deposit of public funds in ma
tional banks. The policy involves two
points of new departure-frst. depositing
the surplus revenues from internal revenue
taxes in such banks, and, second, accepting
state and municipal bonds as security for
such deposits. The Law requires customs
duties to be paid in gold and the revenues
from that source to be deposited In United
States s~ubtreasuries. This part of the pub
lie revenues is, therefore, practically with
drawn from circulation, and can only find
its way into the channels of trade as it is
paid out in the regular course of business.
No portion of it can be deposited in nation
al banks. Public moneys, except receipts
from customs duties, may be deposited in
national banks. but heretofore the current
accounts have not been separated. Secre-
tary Shaw has decided to segregate the
receipts from internal revenue and thus ac-
cumulate a fund which may be drawn upon
to make deposits in the national banks
whenever it may become necessary or de-
sirable. He now has set apart about $40,
000.0O which can be thus drawn upon.
The question of securities involves a more
striking new departure. The law says the
| secretary of the treasury shall require ma
| tional banks designated as repositories OF
public moneys ito give satisfactory seeur-
| ity, by the deposit of United States bonds
and otherwise. for the safekeeping and
posted with them Heretofore all secre-
taries of the treasury have required a de-
| posit of government bonds as security fol
| deposits of public money. Secretary Shaw is
| the first TO hold that such deposits may bt
made on other security. He finds this au,
thority under the words and otherwise
which he interprets as meaning that n,
may accept other securities than govern
ment bonds. The legal soundness of thi.
view is not questioned, but some hav,
| doubted it's expediency. on the ground tina
as Congress has not designated what kline
| Of other securities may be accepted 1t wouIt