The Oskaloosa herald., 1906-05-03
PLENTY OF CASH
TO REBUILD CITY
NEW YORK FINANCIERs OFFER
TO AID SAN FRANCISCO.
HAvE$1oo.o 900, o,oooToLoAN
Senator Newlands Informs Finance
Committee That Eastern Capital
lists Are Ready to Accept Bonds
and Mortgages.

San Fra Acisco, May 2.-The first
definite proposition for furnishing
money on large scale to San Fran
cisco for the purpose Of rebuilding
some of the burned sections was made
public Tuesday, when 1t was an
nounced that syndicate of New York
capitalists had agreed to advance
$10O,000,OOO. The news came In tele-
gram received by W. F. Herrin, chief
counsel of the Southern Pacific, from
United States Senator Newlands, Of
Nevada, who had large interest in
the burned Palace hotel. Senator New
lands stated that ne had submitted
the plan t. New York financiers and
that they had virtually consented TO
supply the money on bond and
mortgage basis. The names of the
New York people are not given. The
offer is under discussion by the local
finance committee.
Accept Foreign Aid.
1t was decided that the citizens
committee would accept all offers OF
aid from foreign countries. This deeis-
ion was reached when communica-
tion was received through Japanese Of
fetal sources asking if the citizens
would receive the contribution of 200,-
900 yen made by the emperor of Japan
and decliTed by the United States gov
eminent. The finance committee held
that San Francisco, being essentially
a cosmopolitan city, it was Obliged 10
care for many destitute foreigners and
that it would be PROPER in these cir
cumstances to accept all outside ten
ders OF assistance.
Banks Resume Business.
The local money stringency was
somewhat relieved by the banks re-
suming business IL a small measure
through the branch United States
mint. Well-known depositors were
given certified checks for small sums
by the savings banks, and business
clients of commercial banks were ac-
commodated; If they so desired, with
sums not exceeding $500 each.
Discuss Special Session.
The subject of having special ses'
sion of the legislature called at an
early day is being earnestly considered
by the general committee. The Gala
nifty San Francisco has suffered will
call for many changes in the Califor.
MIA statutes and ia the city charter In
order to permit of new regulations In
the matter of increasing Indebtedness
making longer leases, etc, and Gov
Pardee is urged TO convene the legis'
lature in extra session as early as pos
sihle.
Relief System Works Well.
The relief of the destitute was con
tinued Tuesday under the new system
devised by DR.. Deyine, of the Nationa
Red Cross and the local authorities
and IL is reported that all unworthy
and undeserving persons will within {
| few days be eliminated from the list:
| of those entitled to assistance.
Plans for establishing and maintain
ing a large free employment bureau
have been perfected and will be speed
iiy put into operation. Through thi!
\ means it is hoped to afford another
| channel for assistance and to distin
| guish the able adult who Is willing t
work from the man who prefers Il
subsist ON the generosity of others.
Build Frame Structures.
Considering the condition of thu
city, an astonishing amount of build
ing has been commenced The new
structures are all one-story frames
but they will be sufficient for a time Il
provide for the immediate needs o
their builders.
| National Contribution.
James d. Phel;n, chairman of tn,
finance committee, received telegram
from Secretary OF War Taft, notifying
him that only $7SO,000 remained ou
OF the s2.500,O0O appropriated by con
gress, and that this sum would be ex
pended for supplies. etc. The Telegram
was read at the session of the f1nanc,
committed and filed without discus
| sion.
The plan by which the federal gov
ernment may lend credit to rebuilt
the city still has many supporters.