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Highland recorder. (Monterey, Highland County, Va.) 1877-1972, 1907-05-31

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Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04
THE CLEARING HOUSE SYSTEM.

Precautions adopted by banks in
this city and elsewhere to protect
their cash and the interest of deposit
ors, and at the same time facilitate
the transaction of business, has ere
ated an interest in what is known as
''the clearing house" which has not
heretofore existed, hence the Journal
gives the following explanation of how
business is transacted by the banks
through that organization: Suppose
there were but two banks in a town
Then clerks from the two banks might
meet each day, each clerk having
with him all the checks drawn on the
other bank, which had been deposited
by customers the previous day, and
by simply exchanging the bundle of
checks on bank A for the bundle Of
checks on bank B, the mutual obliga-
ton might be discharged by the addi-
| tional payment Of a small balance I'm
cash by whichever bank might pre-
sent the lower amount Of checks for
redemption. When there are more
banks, the same process is Como
through with by the agency of the
clearing house Every bank sends TO
the clearing house at a certain hour
each day, all the checks it holds,
drawn on other banks in the same
city. All the checks drawn on any
one bank and presented by the clerks
representing all the other associated
banks, are then totalled up, and each
bank thus finds out how much it is
indebted. in all to the other banks I'm
order to cash the checks thus present
ed. But in order to avoid a large
transfer Of actual cash. a simple book
balance" is struck, just as between
two merchants doing continuous bust
ness with each other, and the banks
pay only the differences Of balances.
Sometimes bank will owe the clear
ing house" and sometimes the clear
ring house owes the bank" In times
when there is a temporary lack of cur
rency with which to carry on the nee.
essary operations of exchange. the
banks create what are known as
clearing house loan certificates"
which pass always for the payment OF
balances between banks, and often
are made TO do duty as general cur
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04

rcncy, being used to pay salaries,
wages. rents. and merchants accounts.
This is a temporary expedient, made
use Of extensively on five or six oc-
casions since the beginning of the
civil war. These certificates set forth
that certain securities have been de-
posted by a certain bank with the
clearing house, against which the
clearing house has issued the tempo
rary obligation Usually the clearing
house committee appraises the securi-
ties presented by each bank and is
sues I5 per cent of the appraised
value in these certificates. These Ger
tificates are as good as money at the
bank, and when issued in small de-
nominations (sometimes as low as 81
they frequently get into general circu-
lauon. They are absolutely safe, and
as they bear a high rate of interest.
which must be paid by the issuing
bank the object always is to retire
them as soon as possible. These are
the certificates" which are now being
used in many cities for temporary cur
rency to settle clearing house bal
ances between banks, and to make
payments over the counter for the
purpose of conserving the currency
supply.-Beaumon Journal.
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04
LET'S BE SENSIBLE.

Discretion is the better part o
valor.
So think the bankers of Palestine
Hence they have combined to guart
the fortunes of their depositors, ant
their own. Today they announce by g
circular signed by all the banking in
situations, that for the present they
will send no more money out of town
and that they will cash no checks
drawn by depositors, in excess of s25
a day. And to take care of their mu.
tual interests a clearing house associa
ton has been formed
In taking this step it guarantees to
the business community the retaining
here of the money that is now on
hand, and protects the banks from a
SeHseless run that might be precipi.
tated by some fool rumor. And there
are but few banks in a position any
where TO stand the onslaught of a
run by panic-stricl1en depositors.
Palestine banks are perfectly solv-
ent, every one of them. Every dollar
deposited with them is doubly secur-
ed. There is not one of them but
what is paying good interest to those
who own the shares. Yet, being
caught in the present panic, with the
rest of the country, and being denied
the very money that is their own, by
the action of the banks in the money
centers; having thousands of dollars
tied up in loans, and in the plan to
hold cotton for better prices, it be-
comes very necessary to take steps
not only for their own protection, but
for the protection of every individual
depositor.
The present plan will prevent a
senseless run. And unless you have
witnessed a run on bank you do not
really know how crazy and how sense
less it is. Every depositor becomes
panic-stricken, and one great scramble
en="es to get their money from the
vaults of the bank. They fight for
places in the line, until the police are
called upon to restore order, and the
cashiers pay the money out to one by
one until the ready money is exhaust
ed; the doors of the bank are closed.
and usually its affairs pass into the
hands of court Receivers are ap-
pointed, and by the time its business
is wound up, its resources, which
might have been ample to meet every
obligation under normal conditions,
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04
NOVEMBER q IN HISTORY.

1492-Island of Guadeloupe discover.
ed by Columbus.
1790-Gen. St Clair routed by the In
dams on the Wabash river.
1S09-Samuel White, U. S. senator
from Delaware and a famous
duelist, died. Born ITO.
1S25-First boat reached New York
City from Buffalo by way of
the Erie Canal
1S47-Mendelssohn the famous COM
poser, died. Born Feb. 3, 1909.
1S72-Llyod C. Griscom, United States
Ambassador to Russia, born.
1SS1-Denver became the permanent
capital of Colorado.
1SS3-William Hicks Pasha, the Eng
fish commander who persisted
with his entire army in the Sou
dan, died.
1S92-Monument to the Chicago an
archists who were executed for
the Haymarket outrage dedicat-
ed in Waldheim cemetery, Chi
cago
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04
PALESTINE, TEXAS, NOVEMBER 4. 1907.

are so dissipated, through litigation,
forced sales of securities, etc, that
those depositors who did not get their
money before the doors were closed,
are in luck if they get fifty cents on
the dollar
A bank is decidedly the safest place
for your money under sane conditions.
Therefore let us be sane. There is
absolutely no cause for alarm. There
is just as much money in the country
today as there was yesterday, or the
day before, or last week, or last year.
The present panic has but disturbed
the regular flow Normal conditions
will soon be restored, and then things
will move along as heretofore. Money
will be just as plentiful, business will
be just as good, and through sane ac-
ton the town and country will be
truly benefited by the purifying eff
fects of the present furry in financial
centers, for It will drive the boarded
millions out of the money centers to
seek solid investments; it will create
a demand for our lands, which consu-
tute the safest and best investments
in the world, and win most likely be
the final death Of future-gambling in
the money centers, which has been an
curse to all the world.
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04
TEXAS is SOLID.

One of the sanest editorials on thC
financial situation in Texas is that
which recently appeared in the Dalla.
News under the appropriate heading
of The Prosperity Of Texas" The
News says:
As far as Texans are concerned
they nave not only ample credit
based upon abundant securities. like
the best of those upon which credit
is based in New York and other great
financial centers. but they have the
spots, the property in sight, to secure
all the cash that is needed to move
the cotton crop. the grain crop and
the cattle crop,
Aside from the crops. cattle and
improvements. upon which an album
dance OF money can be had under
fair or normal conditions in any part
Of the world, Texas has enough rich
and unencumbered lands, enough oil
in tanks and in the ground. enough
untouched wealth in her iron and
coal mines. enough collateral" in
the excellent credit Of an Industrious
and prosperous people to move the
cotton crop and other crops a dozen
times over.
If there comes to us any stress it
is chargeable to the mistakes and Of
lenses of others-to wild financiering
and gambling in great money cen
tiers. for which the people of Texas
are in no wise responsible. When the
price Of cotton falls because of JT---EJa
politics, or on account of inequitable
distributions Of public funds. whereby
New York alone seems to be consider
ed, this means that the suffering Of
the cotton raiser is vicarious and
wholly undeserved. Considering the
security he is prepared to offer. he
suffers in such a case an unjust pen
atty that no other man in his condi-
ton has ever been compelled to en-.
dure.
It is gratifying to learn that the
means Of securing advances on cotton
have been improved or enlarged re-
Gently, and that the prospects are bet
ter for obtaining money to move the
crop.
With the cotton in bales and all
the other security and credit that are
in Texas. there is no good
reason why cash should be scarce or
why there should be the least uneasi-
ness over the situation as we have it
here. If any pressure has come upon
us # is because OF the wrong doings Of
others, and comes in spite Of a pros
perity that is general over Texas, in
spite of a wealth and credit that are
and that are growing |
greater all the time. There is in the !
Texas financial or business situation
not one feature or element that is cal |
sulated to destroy confidence or to in
yite panic
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04

Il a Southern man got the entire
vote Of the South as the nominee OF
the democratic party for president he
would fare no worse than did Parker
in his race But there is no reason
why a Southern mans vote should be
confined 10 the South. 4 Northern
democrat If he is the right kind OF a
democrat. win vote for the right kind
of a Southern democrat.
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04

Yesterday was another great day in
religious circles in this good old
town. The churches all had large
congregations, and most Of them re.
ceived many new members. II is a
good sign in any town when the peo-
pie attend their churches and observe
the Sabbath.
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04

The Dallas Fair closed yesterday.
and the San Antonio Fair opens next
Saturday. Between these events Of
statewide importance, the Houston
carnival will hold the center OF the
stage this week.
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04

Elections will be held in several
states tomorrow, and the present pan
ic will possibly not contribute to re-
publican majorities anywhere.
Palestine daily herald. [volume] (Palestine, Tex.) 1902-1949, 1907-11-04

The banks Of Palestine have com
5ined to protect the business interests
OF Palestine Let's all unite with the
banks to the same end.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
OPERATION PERFORMED
FOR FRACTURED SKULL
Peter Jacobson, Injured in Woods at
KeI|iher, improving. - Blood
Poison a Possibility.

An operation has been per-
formed, at st. Anthony's hospi-
tai, on Peter Jacobson, whose
skull was fractured while he
was working in the woods. ia
cobson recovered from the ef-
feet of the operation and is rest
ing easily at the hospital. How
ever, there is a possibility that
blood poison may set in on his
damaged nose, which was broken
at the time his skull was frac.
tured.
While jacobson was working
in lum ber camp near Kelliher
he was hit by a large limb from
a falling tree, which fractured
his skull, broke his nose. injured
his eyes aud rendered him un-
conscious. He was brought to
Bamidji and placed in the local
hospital.
Unless something unforeseen
occurs he will recover.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
!. Rollins With Us Again.

= - Il
D. w. Rollins arrived in the
city yesterday from Duluth on,
his initial trip as travelling re-
preventative for the Twohy- Eli
men wholesale grocery company
of Superior, for which he will
hereafter take orders I'm this
part of the state. Rollins is well
known throughout the country
west from Duluth to Bemidji,
having travelled in this vicinity.
for five years for the Armour
Packing company, resigning
three years ago to take up other
work. Rollins is one of the
most popular knights OF the grip
on the road today, and his friends.
here welcome his return to this
territory. Among other good
things to his credit, Rollins was
for several years chaplain of
the Ancient and Preferred
Order of P. F. & G. O. D.,
which was instituted and pre-
sided over by M. J. Flynn of
Duluth.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
Logging Capt. WiIseYs Timber.

Dale & Larkin of Turtle River
are doing some logging this win
ter getting out quantity OF
cedar and tamarack. They are
cutting the timber from the
homestead of Captain Wilsey, on
Three Island lake, about four
miles west of the village of Turtle
River. There is a good "bunch" "
Of the cedar and tamarack, and
they expect to spend the balance
of the winter months in cutting
and banking the logs. The logs
will be dumped on Three Island
lake and driven down Turtle
river in the spring when the ice
goes out.
Mr.. Dale, who was in the city
yesterday looking for men,
stated that he has put in one
camp and the word of cutting is
going on nicely.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
.OUARRELED WITH FATHER;
TOOK DOSE OF POISON
Corrosive Sublimate Almost Causes
the Death of a WOuId-be Sui
eide at BIackduck.

Blackduck American: A dose
OF corrosive sublimate came
near ending the earthly career
of Miss Emma Messerschmidt a
few days ago. Fortunately the
poison was not given sufficient
time to dissolve and most of it
was left in the bottom of the
glass. Enough was swallowed
however to have ended her life
had not the services of a doctor
been Immediately obtained.
Doctors Monahan and Osburn
were called and with the aid of
antidotes and a pump succeeded
in saving her life. It developed
that the poison was taken with
suicidal intent. However as she
poured the deadly stuff down
her throat she came to realize
her awful act and at once told the
Swain family with whom she
was staying and they at once
telephoned for the doctors. Her
rash act was impelled by a
quarrel with her father.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
.B0MBTHROWER TORN TO
PIECES In PHILADELPHIA
Throws Bomb at President of Bank
and Kills Cashier. Had De-
manded Money.

Philadelphia, Jan. 5 Especial
to the Pioneer Shortly before
noon today an unknown man
hurled a BON b in national bank
at Fourth and Liberty streets.
The explosion which resulted
tore the bomb thrower to pieces
and killed W. z. McLear, the
cashier. Several other employees
of the bank and patrons were in
jured, two of whom may die.
The bonn b. -thrower had demand
ed money from Richard H. Rush
ton, president Of the bank. When
his demand was refused, he
threw the bomb at Rushton. A
slight fire followed the explosion
and tenants in the building in
which the bank is located fed
from the offices. The police
quickly placed the vaults and Sc
curities of the bank under a
heavy guard.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
Cut Ten Millions at Tenstrike.

Davis & Ferguson of Milaca
are logging on an extensive scale
this winter, near Tenstrike,
where they have a contract with
the j. Neils Lumber company of
Cass Lake. They will cut ten
million feet of pine and get the
logs in shape for driving to the
Cass Lake mill next spring, and
have esta blished two camps.
E. L. Ferguson is in active
charge of the logging at the
camps and his partner. e. I.
Davis attends to the clerical end
Of the contracts. Mr.. Davis was
in the city yesterday looking
after some affairs in connection
with the work.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
Much Travel on M. & |. Road,

There is much travel on the
M. & I. north. bound passenger
train these days; in fact, during
the last four months the mum ber
of passengers that have travelled
northward over this line has
been the cause Of much COM
ment. Last evenings train was
crowded, all the seats and the
aisles on the cars being filed so
that it was almost impossible to
pass through one coach to an
other. AS an indication of the
travel, the local ticket agent of
the NJ. & I. sold 1000 tickets to
Blackduck alone during the
month of December last, and
1900 of the pasteboards were
sold to the same station in No
VEN Der.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
.BEMIDJI SECURES A
SOLID ENTERPRISE
"The Donald Land and Lumber Com
pany' Recently Incorporated Under
Laws of Minnesota.
HAS AMPLE CAPITAL AND WILL
DEAL EXTENSIVELY IN TIMBER
Roger C.. Spooner, Cousin Of Judge
Spooner, and J. C. Parker are
Among lncorporators.

We call attention to an addition
to our business interests in the
organization of "The Donald
Land and Lumber Company
with Offices in the Winter block.
The purpose of this company
is to be active ia the purchase
and sale Of logs, ties, poles and
every thing connected with the
lum ber industry.
Roger Spooner, the president
of the company, and who will
give his entire attention to Office
matters, is a brother of U. S.
Senator Spooner, Of Wisconsin,
and cousin Of Judge M. A,
Spooner of this place. He has
been superintendent of the
Indian warehouse at Chicago, by
appointment made by ex.Presi-
dent Mckinley in June of the
first year of his administration,
which position he resigned to
locate here.
J. G. Parker, the vice president
of the corporation, has been a
resident of Bemidji for some
years past and needs no intro.
duction.
Mr.. Mackenzie, the secretary,
treasurer and general manager,
has spent the better part of his
life in the lumber business and
in which vocation he has achieved
success and earned high stand
ing.
He and Vice-President Parker
and Assistant Secretary John G..
Spooner, who have had business
experience in Chicago, will be
active in the field and will sus-
the good name the Individual
mem bers Of the company now
have and also live up to the com.
pany's aim to achieve success
and to make no promise of any
nature except to keep it.
The different members with
their families propose to make
Bemidji their home.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
Sheriff of Koochichinu Here,

Patrick Walsh, sheriff of the
new county of Koochiching, came
down from his home at Big
Falle this morning and will re-
main here for several days
looking after George Harrington
convicted of forgery at Big Falls
and sentenced to one year in
the penitentiary. and who will
be held in the county Jail here
awaiting the return of the COM
mitment papers from Interna-
tional Falls. Mr.. Walsh is we'll
known in Bemidji and is being
congratulated on his recent ap-
pointment as sheriff.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
Snow Cleared from M. & |. Road.

W. H. Strachan, superlnten-
dent of the M. & l., came down
last night from Big Falls, his
private car, 49," being attached
to special engine, equipped
with a snowplow. The plow
made the trip from Brainerd to
Big Falls and cleaned all the
snow from the right-of-way,
leaving the cuts free for passage
Of trains, which insures a more
prompt time schedule on the
road.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
GRANT VALLEY FARMER
ARRESTED FOR ASSAULT
Joseph L. Nelson Charged With Assauting His Son and
Daughter. .Surmised That Girl Has Been Spirited
Away and Absented from Trial of Father

Joseph L. Nelson, a farmer
living in the town of Grant Val
ley, about five miles west of Be.
midi, has been arrested on the
charge of having assaulted his
son and daughter, aged IA and
So Is years, respectively.
Nelson, whose wife does not
live with him but is located some
where in st Paul Or Wisconsin,
has lived on his farm alone with
his children.
On Christmas eve, the boy and
girl came to Bemidji and called
the attention of the authorities
by the statement that they would
not longer live with their father,
who they claimed was con tinually
whipping and abusing them, and
acting in manner that no
parent should toward his child
rem.
Complaint was made by
County Attorney Mcdonald, and
Justice Skinvik issued a warrant
for the arrest of Nelson, charg-
ing him with having committed
assault on his son Nick. Nelson
Was arrested by deputy sheriff
and brought before Justice Skin
vik on December %, the case be-
ing continued to January 4, Mel
son furnishing bail for his ap-
pearance in the sum of 5000.
January 3 another charge was
filed against Nelson, that of
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
if Bailey and officials at Mime.
apolis, managed to keep Moore
where he cannot get away.

Moore has evidently been
working his "oily" confidence
game in nearly every town of
Importance in the north half of
the state, including the iron
range.
Yesterdays Duluth Herald
contains the following concern
ing Moore and his operations at
Eveleth:
''Walter Smith, president ofthe
Miners band of Eveleth, passed
through the city today on his
way to Minneapolis, to identify a
man named Moore, who has cen
arrested by the Minneapolis
police on the charge of working
a smooth game in a number of
towns on the range. Moore's
game is claimed to be as follows:
Securing the name of some
prominent citizen of the town,
he finds some other man in the
town by the same name, and in.
sures his life, taking in pay ment
q note, which is generally worth
less. This note he discounts,
and the victim, believing that it
is the name of the prominent
Citizen, readily takes it. Mr..
Smiths friends are claimed to
have been caught in this trick,
and Mr.. Smith is naturally
anxious to catch the guilty man.
The trick was easily worked in
his case, because of the name he
BEARS >
The above but strengthens the
assertion made by Minneapolis
party, in letter published in
the Pioneer recently, that Moore
was one of the smoothest conf
dence men In the United States.
His methods here were different
from those used at Hibbing.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05
Samaritan Entertainment.

The local lodge of Samaritans
has made arrangements to give
an entertainment in the Pres by.
terian church next Tuesday
evening. Lottie Tillotson, of
Hawaii, will give an evolutionary
entertainment and lecture, at
the conclusion of which a pro.
gram of vocal and instrumental
music will be given by local
talent.
The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1907-01-05

assault on his daughter. Both
cases came up before Justice
Skinvik yesterday. Nelson plead
not guilty and demanded a jury
trial. The case Of assault on the
boy was continued until January
10, and that Of assault on the
girl until the 11th.
1t appears that both the girl
and the boy stopped for several
days at the Remore hotel and
that the girl was sent to the poor
farm to remain until her case
should be called. On Thursday
the boy was found and brought
into court, but when the author.
tiles went for the girl it was
found that she had left the poor
farm and departed from the city
by train, no one knowing where
she had gone.
1t is surmised that certain in
terested parties induced the
girl to leave and furnished her
with funds, with the intention
of preventing her giving testi-
mony against her father in the
cases pending against him. The
authorities state that, should it
be found that anyone has at
tempted to thwart the netting
out Of justice in this case, Wig
orous prosecution will follow.
Read tho Dai1v P;oreor