The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1903-08-08
WALL STREET PANIC MAY
HAVE To RUN ITS COURSE
so1A1 xAt1 CORRESPONDENTS TO THE ADVERTISER


WASHINGTON D. c., July 26-Wth the excitement in Wall
Street collapse of the market increased concern felt in Wash
the outlook There increased talk about legislative rem
edes be applied when Congress meets although the more
that Congress remedy and that the disease must
Secretary Shaw holds that it money famine that
lies the of the disturbance In that he generally upheld by
men who have studied conditions
The big fellows are getting daily the sagging of values
the billions dollars But to be- as tar as
banks concerned largely question o collateral for the
calling That IS drv
ing man after and firm after firm to the wall but thus fa the
have impaired They have plenty of money but those
money high of interest and will have to
somewhat
Just pany condition of Street is calculated to
affect the industrial condition of the generally Business was
better and contrary to the usual happenings on suc
the be little attention to the coouon Oh inc
for help The small people were shaken out OF the
weeks Good good employment for everybody ana o1d
prospects factories and manufacturers enhance the confidence
mainland to such pitch to make the financial hurry seem y
OF Congress Will consider mlace u
widespread demand changes But the
fect the law not likely to tbng OF the lad
Midsummer capital cool fine October day
larger population during similar period Tor
many year. few politicians coming town now and then
greater But at the present tune
has that offer it pretty certain that ne
little else to bring him here IL the
@ , i ~ Ct Pa for a conference with President Roose
generally shake the federal plum tree
THE POSTOFFICE SCANDALS.
Postoce Department have attained quick
again, with the indictment at New York. of George Beavers
superintendent Salaries and Allowances division There has
mudde that connection for the got out before was
served before the fact of the indictment
became public
Department
touching the investigation Some weeks President
Roosevelt approved cabinet
meeting the publicity the postal scandals should be
cut off if possible that the action taken by the
aesng should be withheld but he wished to
curb newspaper possible because of the belief that
was nAaming public This has become opportunity for
intrigue within Department. the Postmaster General who has
else about the progress OF the
scandals Assistant Postmaster General Wyne
who first set the investigation AS Mr. Wynne many
this and friendly terms
leading here effort has been made to nave
appear Wynne really the bureau of information through
hitch much of of irregularities leaks out
But since Payne there has been surprising dea
scandals, though Mr. Wynne the acting
Postmaster General anxious have the Pres
publicity obeyed the letter and therefore lie had
considerable anxiety recently departed for his
For political reasons for other the Department highly
ea6ed at the feared moth
ing mpcate him cmnay in the transactions OF the
generally recognized that he of the
ring leaders organization had full swing there for several
nsnuaion entirely unfounded however,
that Department shielding him because of relations and
Citations York Republican be
York members of Congress with
Mr. Beavers if that be the Department
leaving nothing bring them justice not the nen
ton to spare quite important bring the trial of
the Beaver a successful
The Beavers record vigorous and long prom
would is not known here IN
Washington fire for days and hat
the inspectors give despair when little cew
found bv inspectors which several other had
over again again without sspng Then the whole
clled and the made easy
ERNEST G. WALKER.