davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
SEEK CASH; MENACE METZ
Holders of Salary Wmrants Insist
on Payment at Al Hazards.

Controller Metz was threatened over the telepbone
yesterday by men who demanded that lie send out
monthly salary warrants without regard to the ad-
vice or feeling of the bankers who seemed 10 think
that If thirty-hve thousand pay checks were lib
Grated In one day ii would cause uneasiuess at
thirty-hve city repositories. Some of the Con
troers critics threatened 10 petition the Governor
TO have him removed on the ground OF misfeasance
The Controller made the following statement.
! have been receiving "A large number Of Iat.srs
protesting against my action in extending the mn y
day for city employees over several DAYS and oIIes-
uoning my right TO do il, and intimating that 1
was in league with the banks TO give them the
beneht of few more days interest. some Of the
larger department stores telephoned to me yester-
day and asked me when the teachers would receive
thetF checks. One of them said his firm coshed
between $4,000 and $4,000 worth OF checks every
payday but this time IL would be impossible to do
II, but hoped II the checks came in ON various
dates that they could give at least 20 per cent in
cash and their own check for the balance. PresI-
dents OF banks came TO me yesterday protesting
against our depositng warrants for certain payroIs
with them and compelling them to secure the cur
Tency with which to pay the checks that would be
and even then they could not get IT,
one president came here in his automobile and
asked us to give him whatever currency we had
collected In the tax office and he would. give ms
our own check against t.. Unfortunately the entire
cash receipts in the Manhattan office which Is
hS far the largest were about sl.0oo In currency.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
HUDSON NAVIGATION co. DROPS MORSE

The Hudson Navigation Company has elected
new officers TO succeed Charles W. Morse's rep
resentatives. who have been dropped from the
management. The in control are John
Englis formerly vce-presldent, who succeeded
Calvin Austin president and general manager;
Charles ". Englis, who elected vice-presi-
dent, and Andrew Fletcher, of W. a. Fletcher &
Co. OF Hoboken. who was made treasurer IN place
OF n. II. Campbell.
Charles w. Morse and Calvin Austin remain on
the directorate but Mr.. Campbell and Mr. Morse's
private secretary, Arthur Braun, retired and were
succeeded by c. NJ. Englis and Mr.. Fletcher As
the board Of directors only consists Of Ave men,
bers. the new management is in the majority and
Mr.. Morse and his associates are now a minor IN
huence in the company. they are in tho Con-
sohdated Steamship Lines 1t was stated yester-
day that the change was accomplished peaceabIy.
MI Morse not making any fight 90 retain control.
The hudson Navigation Company, which is the
holding concern for the Troy and PEOPLES lines
operates steamers on the Hudson River It's
combined fleet consists of five steamers and there
are two more building. The New York Office is M
Pier p North River. special meeting OF the
company will be held on November 6 In .Jerse,.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
MORE CURRENCY ISSUED.
Treasury officials See Marked I'm
prOUement IN Financial Situation.

Washington. Nov Treasury officials asree
that the financial situation Is greatly improving.
and It's advlces to-day were OF "A reassuring char
acter. News OF the opening Of tho banks in Ok
lahoma and New Mexico for business this morn
ing caused satisfaction. National banks in all
parts of the country arranging TO increase
their circulation, and Treasury officials work
ing overtime in the effort to keep up with their
vastly increased correspondence. In the rush OF
business only few of the names OF banks that
are perfectng arrangements to take out additional
circulation can be obtained Among them are the
following: National City. New York. 100000:
Whitney Central National of New Orleans. $685.
600; Hibernian, OF New Orleans. $50 coo: First Ma
tional, OF Cincinnati $4,000; Monroe National. of
Chicago $4,000; Merchants, OF Providence, 1000;
Hartford, of Hartford. Conn., $4,000: Continental
OF Chicago. $4,000; First National OF Van Vert
Ohio. $4,000; Irving National Exchange, of New
York, 100000: Merchants. Of Wilmington, N c.
100000; National Bank of Commerce. of Cleve-
land. 100000; First National, OF Galveston Tex
100000 and Huntington. of Columbus. Ohio 600
Several large shipments OF currency were made
from the Treasury at the close OF business to-day
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
RECEIVERS TO CONTINUE.
Those for Kmickerbocker VIII Hold
Over to NOUember so.

Justice Clarke. OF the Supreme Court sitting at
St. George. Staten Island, extended yesterday the
temporary receivership Of the Knickerbocker Trust
Company to November 60 BY that time the exact
standing OF the company will be definitely known
and the receivership viii either be made permanent
abolished.
William #. Mackay. Deputy Attorney General
moved that the recelvership be made permanent
and julien T. Davies, counsel for the reorgdnlza-
ton committee Of directors opposed the motion
Mr. Davies said that the company had S4s OeD 900 on
deposit when it suspended. and argued that "A per
nanent yeceivership would work great injury not
only to the Knickerbocker Trust Company but to
all trust companies and to banks in general He
said that such action would also destroy the fdu-
clary business of the company, which yielded an
annual OF $2lO.0OO.
James Russell Solely. who also appeared for the
reorganization committee said that he had strong
assurances from bankers. well from stock
holders in the company, that substantial aid would
soon be forthcoming 10 enable the company to re-
sumo. He said that the stockholders were ready
to make whatever sacrifices necessary to
place the company again its feet
Samuel Untermyer. who represented the amalga-
mated committees OF deposltOrs Joined with Messrs
Davies and Solely in opposing a permanent receiver
ship. George T. Garfield and Ira A. Ettinger who
were also in court TO represent large depositors
urged that the temporary recevershp be continued
Mr.. Mackay said that he perfectly willing to
leave the subject TO the discretion of Justice
Clarke, who. he said, familiar enough with the
affairs Of the company TO treat the motion fairly
Justice Clarke then ruled to extend the temporary
receivership until November go He said that i'm
appointing the receivers he had In mind not the
winding up OF the affairs OF the company but the
continuation of the company in the banking busi-
ness, IL possible. He believed that the three re-
ceivers ought first TO take up and consider care
fully the question of the reorganization of the
company.
George L. Rives. who in court TO represent
the receivers then asked for allowance of
$4,000 for the receivers for expenses and an add
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
WANT HAMILTON PROBE.
Bank Depositors Ask Public
Investigation.

Charles II. futile, Of the law firm OF Davies
Stone Auerbach. No 80 Nassau street. represent
ing depositors in the Hamilton Bank of New York
City. obtained from Justice FITZGERALD of the Su-
preme Court. yesterday an order against Attorney
General Jackson, Clark Williams the State Super
intendent OF Banks and the officers and directors
Of the Hamilton Bank, TO show cause on Thursday
next why a public investigation Of the affairs OF
the bank should not be made
The action IS brought under a section Of the State
banking laws. which provides that depostors
whose deposits aggregate exceed $1,000 in a
bank which suspends business may apply no the
Supreme Court for a thorough public Investigation
Some Of the depositors have been dissatisfied
with the action of committee Of directors officers
aand shareholders. formulating a plan for having
off the depositors which calls for the pa yent of
per cent to deposltors when the plan becomes OPERA
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03

tive another Is per cent ninety days later ID per
cent more in another ninety days. and the balance
co per cent within one year. In the mean time the
deposits are not bear interest and consent to the
plan as irrevocable
The committees plan is also objected to because
it compes the depositors lend to the stockholders
60 per cent of their money for one year without IN
terest
Z. f. Thomas president of the bank ana +
Augustus Heinze was of the directors up W
three weeks ago, when a syndicate took over the
affairs of the bank. Mr.. futile said: IT is COM
mon knowledge that there are large Heinze loans
carried the banks books.
IF the hank is insolvent. why is not an imme-
date settlement better? If the bank Is just
solvent, and a delay in the sale of securities is
necessary TO protect depostors interests 'heE
would like TO know this fact.
If the court grants order for an inVestlga-
ton, as l ii will. there Will ne puDl'c
Investigation and public report, so that All may
know Just where the bank stands. We have served
the Attorney General, the State superintendent OF
Ranks and the officers of the bank with notice of
this action to-day
There has also been dissatisfaction with the
statement made by the bank that during the three
DAVIS which preceded the run on the bank 40 per
cent OF the deposits were withdrawn. But there
was no visible run the bank; no line OF de-
positors waiting outside. and nothing to indicate
run on the institution. And if this money was
withdrawn. as the banks officers state. my clients
suspect that it withdrawn by persons in a
position to the banks affairs, and that state
ment. intended to show the banks strength, Is
taken by some OF the depositors TO mean breach
of confidence instead the part OF the banks
management
Attorney General Jackson, when asked over the
telephone this afternoon X he had been served
with such order, replied
IT have not and know nothing about any such
proceeding
One thousand depositors Of the Hamilton Bank
held a meeting at the hall at No. $40 West 145th
street last night. to consider the arguments ad
vanced by Mr.. Tuttle w. r. Montgomery tho
newly elected president OF the bank announced
from the platform that no would go the af
fairs of the bank with number of business men
who to be selected, and would argue against
the motion Thursday. There was no necessity,
he said for having a public investigation. Some
Of the speakers were Dr. II. p Decoursey, Glenn
ent II. Smith. William H. Poor. J. II. Thomas and
John r. Leo.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
METZ ON BOND SALE.
Controller Defends fiction in Selling
Big Block.

Controller Metz is being freely criticised for selling
the Morgan syndicate S0.oooooo per cent bonds in
a block and giving the same persons an option on
100000 on January 10 the same terms. Il is
asserted that the syndicate Will be able market
these bonds in London and Paris at substantial
premium. bring the gold 10 New York and charge
a premium ready money. aud At the time
1t IS conjectured that the city Will leave in the
hands OF the syndicate a large proportion OF thu
money paid for the bonds. The Controller said
yesterday:
So far through the withdrawal of currency from
been hit especially. II has not Extended 20 the
great extent TnIess tb In is TfepSsited and
credit becomes re-estdbllshed and the banks
InerGiaI loans we viii seg in the coming Winter a
SSpscta,eie e the mills ana msnufactories being
Saturday Tor his payroIIs lie mas got to pay for
his raw material on average in thirty days. IN
J S hnes such as the woollen and cotton m
duStrleS goods are sold by the mills on four eight
and twelve months time. This means that tho
I mas got 70 supply the cash Tor MS
goods manufactured during the period over which
they become due and the Value Of the raw mayerai
used and in process OF manufactures Upon this
collateral the banks have loaned for years and tns
of business a man has done can do,
can Io b ya .aS only collateral on which any none
street conateral-that is. collateral thar can bs
not the ease with time loans based ON merchandise
We therefore have the peculiar situation that the
only interests which We're being pursued and ON
which the light was turned the ones who ara
able to borrow money. IL 10 a lesser !egrC,
than heretofore while legitimate and commercial
collateral, which Is the basis OF all our business
cannot be realized upon by those who have II to-
offer. - ~
In the same situation. real estate owners or small
holders cannot realize on mortgages on their hold
ings or ON house that Is free and clear beca.lsa
no bank or commercial Institution can afford to put
out money except where il ba collected imue-
diately IN ease of need The result will be- AMI
must be, unless money Is reds posted in the banks
to force the employer to shut down. because he has
tn
eight or twelve months and he cannot borrow fbo
money 10 90 IL with
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03

tional allowance for counsel fees. Justice Clarke
also ruled that each individual note due the COM
pany from persons having deposits in the company
when It suspended be submitted TO him for deci-
sion on the point of allowing the deposit 10 offset
the note At the suggestion OF MIR. Rives. the
court ordered the delivery and payment Of funds
and securities held by the Knickerbocker Trust
Company as custodian TO the rightful owners. This
releases the money which the City Chamberlain
had deposited in tho company pending the de-
csion of certain cases where persons died intes-
tate.
Mr. Davies. when asked what the prospects were
OF the company resumiuS business before Noveul-
Der 30. said that he hoped the company's affairs
would be in such shape by that time that definite
date for the resumption OF active business might be
cot
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
BROOKLYN BANK TO RESUME

Announcement was made yesterday by a repre-
sentative Of the board of directors OF the BrookIvn
Bank following directors meeting that the hank
VIII De declared solvent by the State Banking De
parthent and permitted to resume business In
discussing plans in regard to opening the baul, tho
principal point considered how much OF the
banks securities would have TO be turned into cash
in order to enable the bank TO transact business
Inc question as TO what securities should he dis.
posed OF was also discussed.
The bank examiner is yet through his work
so that the opening VIII probably not come much
before the last Of the week
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03

green slips OF paper In denominations OF 81, 50
and so were put into circulation money to-
day by the National Bank OF Commerce, the
Third National Bank and the Mechanics Amerl-
National Bank These differed from the
cashiers checks which have been in circula-
ton for a week, in that they made pay
able to bearer" and that no Endorsement or
Identification was required to cash them
At the time Auditor Wilson and Cashier
Lottmann, OF the St. Louis Postoffice. announced
that checks will no longer be accepted by the
postofIice here in payment OF any sort OF an
obligation. All deposits 10 cover postage on
second class mail matter must be in cash.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03

Kansas City. Mo. Nov. 2.--Half a dozen local
banks began issuing cashiers checks to-day in
amounts of 81. 81 50 and $40 to be used in
place Of currency and payable to bearer Clear
ing House certificates are being used as for
merly. The question OF issuing the cashiers
currency considered at a meeting of the
principal bankers. and it decided to leave
it to the discretion OF the individual banks.
Portland. Ore, Nov. 2.-Governor Chamberlain
after consulting bankers Of the state decided to-
day to proclaim a legal holiday from day to day.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
Oriental Rugs

All the rest were checks Undoubtedly II is a hard
ship for many not 10 obtain their checks promptly.
but might be well for city employees 70 Dear IN
mind that large private employers laying or
thousands OF employees and paying those they are
laying OF IN checks also and their checks Will
not be Cashed readily or quickly as city
checks when they presented.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-11-03
HELPS PACIFIC COAST.
Secretary CorteIyou Orders Transfer
of 81 900. 900.

San Francisco Nov. 2.-The United States
government has come to the assistance of the
San Francisco banks by taking steps to expe-
dite the shipment Of coin to the Pacific Coast
This action was the result of an appeal by local
fnancers 70 Secretary CorteyOu of the Treas
ury Department. sum, said to be in the
neighborhood of S10OO,00O. will be transferred
by the government for the use OF the San Fran
cisco savings banks
The government has coin in San Francisco
to the amount of $;I43O 100000. OF this sum
$500, 100000 is stored in the Mint and $4O0O0OOO
in the Sub-Treasury An effort was made to In
duce the government 10 allow the local banks
to deposit their federal bonds with the Sub
Treasury and obtain coin In return, but the au-
thorities at Washington refused to consent to
this plan. An arrangement was effected, how
ever, by which similar results may be achieved
by operating through the New York Sub-Treas-
ury.
The arrangement entered into between the san
Francisco savings banks and the government
provides that such federal bonds as the local
banks have on deposit in New York may be
turned in to the Sub-Treasury there. The New
York Sub-Treasury will then instruct the San
Francisco Sub-Treasury to pay out an equiva-
lent in coin.
All the banks OF San Francisco opened their
doors as usual to-day. Governor Gillette called
a conference OF members of the Clearing House
Association and leading fnanciers. He says that
for the present the legal holiday will be con-
tnued from day to day until It is certain that
no danger from q money panic exists in this
state.
Truth. [volume] (Salt Lake City, Utah) 1901-1908, 1907-05-18

During the past four or five years
especially this intermountain eoun-
try generally and Salt Lake and Utah
in particular has grown in population,
wealth and culture. A steady adj
vance in the industries, business and
commerce is very marked. AS a gen.
eral thing firms and individuals who
keep abreast of the times have pros
pered There are exceptions to this
rule Some have been unfortunate
through no fault of their own and
have not shared in the general pros
perity. Others on account of their
viciousness and misanthropy have re-
trograded instead of advanced. In
this latter class belongs the Salt Lake
Tribune. Some five years ago the
Tribune was the greatest power in
the intermountain country. Today,
so low has it fallen, that there is
none so poor as to do it reverence.
Its dishonesty, its insincerity, its STU
pdity have deprived it of the respect
of even the meanest citizen. 1t has
lost half of its subscribers and conse-
quently large portion of its adver-
Using patronage. Its opinions or al
legged opinions none pay any attention
TO or have any faith in or care any
thing about. 1t was very different a
few years ago. Then when the Tri-
bune spoke the people minded.
Truth. [volume] (Salt Lake City, Utah) 1901-1908, 1907-05-18
ABOUT ELKS' TUSKS.

President Roosevelt has recently
called attention to the fact that the
elks, az the noblest remaining of our
wild creatures, are threatened with de-
struction primarily because of the
custom which has grown up in the
order of wearing elks' tusks as an en-
blem of the order" The president
asks if it is not possible that the Be-
nevolent and Protective Order of
Elks, which has done so much for
uplifting our American citizenship
and for rendering life among so many
of our people both easier and hap
pier, may not now come to the front
again in rendering the service to our
whole people that would be rendered
by the abolition of this destructive
custom. A joint resolution was pas
sed by the last legislature of Wyom-
ing memorializing the B. P. o. E. to
discontinue the use of elks' tusks.
There is no doubt that the members
of the order when convinced that
the wearing of elks' tusks contributes
to the wanton slaugh,er Of the noble
animal which supplies them, will dis
continue their use as ornaments, al
though it is probable that the stories
which have been told of the wanton
slaughter of elk for their teeth in or
der to supply the emblems for the
members of the order have been ex-
Truth. [volume] (Salt Lake City, Utah) 1901-1908, 1907-05-18

For several years the Tribune, the
Telegram and the minor organs and
those directing them have ap-
rarently been aching for a fight
They have attacked and abused in
the most brutal fashion reputable
citizens who opposed them or who
wouldn't do homage at the shrine
of ST. Kearns. The Tribune, the
Herald, the Telegram and the little
weakly with one accord all jumped
on the Inter Mountain Republican
like thousands of bricks. They
abused Mr.. Armstrong, the editor,
in hobo fashion in their papers and
quietly and stealthily spread scand-
alous and lying reports about him
and hired others to help in giving
wings to those reports. Such anoth-
er example of personal animosity and
brutal attacks public and private has
never been experienced in newspa-
perdom. Notwithstanding all this,
the Republican has prospered. 1t
has more subscribers today than any
other daily paper in Salt Lake, al
though it is not yet eighteen months
old. 1t is getting is fighting clothes
on and is making things pretty warm
for Brothers Goodwin, Cannon,
Kearns ct al. They are of course
very vulnerable and the wonder and
the foolishness is that men whose
armor is so faulty would provoke a
fight lch as they have done. Arm
strong has the opportunity of a life
time to fay them alive and we rath-
or think he won't pass it by.
Truth. [volume] (Salt Lake City, Utah) 1901-1908, 1907-05-18
OIL INDUSTRY REVIVAL.

The oil industry of the intermoun-
tain states, like the ocean has its GIBBS
and flows. In Utah, and nearby
states there have been several of these
calculations, followed by periods
when this scion of the hydrocarbon
family seemed to be forgotten by all.
From present appearances there is
to be another revival of interest in
the industry. AS to whether this re-
vival is to be permanent or to be fol-
lowed by another period of neglect
is a thing that the future alone can
tell. The truth is that no other por-
ton of the world is richer in surface
indications of the fluid, than Utah and
Wyoming Canyons formed by ero-
sion or volcanic action expose oil
sands of often 100 feet in thickness
Truth. [volume] (Salt Lake City, Utah) 1901-1908, 1907-05-18

apeerated. This is the opinion OF the
Butte Miner, which says that anyone
who has hunted this species OF large
game in late years knows that ne
could not make his salt shooting elk
for their teeth.
Usually if man gets couple OF
elk after ten days or two weeks
trip he is doing extraordinary well"
saws the Miner, and after he re-
turns to civilization he will find that
the four teeth he has obtained have
cost him a pretty penny financially
to say nothing of the labor involved
Those who have experienced the plea
sure of hunting these animals--leav-
ing camp at dawn and walking all
day until dark-are fully convinced
that it is not chld's play, and teeth
would have to be worth about 5000
apiece before they could hope to
make it a profitable business. Hunt
ing elk for sport is another matter
entirely"
The president of the United States,
who is not member of the B. p. o.
F., used to wear an elk's tusk on his
watch guard, but does not do so now.
1t was taken from the mouth of a
big bull elk which he himself shot
E1tc' taatb ore worn nc ornaments nv
many persons who are not members
of the order of that name, but their
discontinuance by members of the or
der will tend to discourage their use
and furnish no incentive to mercen-
aries to hunt and kill the animals for
the profit, if any, to be obtained
from the sale of elks' tusks.--State
Journal.