New Ulm review., 1907-11-13
Official Paper of New Ulm.

When we call the roll Of heroes"
in the recent crisis in New York, we
are likely to name Morgan, Recke-
feller, Cortelyou- and stop there. But
there is one other There are doubt
less hundreds of others, but there is
one who is known. What his stand
ing is, whether he is even a million
aire, or whether he is man whose
honest and generous conduct OF busl-
ness affairs has kept him in the ranks
of only the comfortably fixed, cannot
now he said. But his name is Edward
[. Sullivan, and Of what he did there
is no doubt. He advanced an idea
and backed it up with an action.
First, he wrote to all the persons
whose mortgages he held and volun-
tarily gave them ninety days exten-
sion in which to pay interest due, or
about to become due, and granted the
same extension on mortgages that
otherwise he could have forclosed.
Next. he wrote to those who tenanted
his property and extended their pay
ments sixty days, with the promise OF
making it thirty days more should
conditions warrant. All this, was
within his private business, OF course.
In his letters he said he was relieving
those with whom he did business OF
every financial worry within his power
to relieve, and for this reason, that he
did not want them to feel they had to
swell the ranks of those who had lost
their heads in the furry. He said he
was sure everything would be all
right, and to prove it he acted as he
did. Having done this, he asked his
correspondents If they could do some
thing of the kind for the men who
were indebted to them. In fact, he
started an endless chain Of confidence
and relief among a class Of men who
otherwise would have been agitated
by grave fears and whose fears would
in turn have agitated others.
It was a splendid idea and could
proceed from none other than splen-
did man.-Detroit News-Tribune.
In g signed com mmunicatiOn to the
Pioneer Press, President Stickney OF
the Chicago Great Weastern road re-
veals the following:
"The official report Of the United
States treasury shows that on last
Thursday, Oct 81, there was locked up
in the subtreasuries, idle and useless,
the enormous sum of Sl27, ITO, ,057.64
of actual cash, while all the banks in
all the reserve cities of the United
States had suspended cash payments
and the movement of the crops had
stopped and laborers are compelled to
accept checks for wages instead of
cash, all for the want OF currency,
which want of currency the New York
banks are trying to relieve by import
ing about $50, ,000,O 900 of gold, or about
one-quarter of the amount held in the
treasury idle and useless. y
All of which leads Mr.. Stickney to
The pertinent inquiry: "Can any sys-
tenn of government banking be con-
sceived which would produce more ab-
surd results?" And he answers it with
this pointed suggestions:
LET US have national bank which
is not only good enough for the peo-
pie to deposit their money in but is
also good enough for the government
TO deposit its money in.
Mark Twain tells a story Of mis-
placed charity at the time Of Sarah
Bernhardt's appearance in Hartford.
Theatre tickets were S. piece-and a
widow and her daughter, delightful
and kind-hearted folk, we're keenly de-
sirous of seeing the great French ac-
tress, but feared that it was not quite
right to spend S6 on a one-night thea
trical treat whel, there were poor and
hungry people in the town. So they
took the S6 and sent it to a poor fami-
ly whom we may term the Smiths.
"Whereupon the Smiths,'' concluded
the story, 'Etook the money and bought
tickets to see Sarah Bernhardti:'
Josef Hoffman,, the famous plan
ist, advises piano pupils to practice
not more than two hours in succession
and not more than SIX hours in day.
Wholly unnecessary. The great trou-
Bile, we find is to get them to practice
at all.