davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03
our NEGLECTED. Opportunities I'm Persia.

For many years the ships of Great Britain have
had almost q monopoly OF the carrying trade OF the
Persian Gulf and tho goods brought In by them
have been principally products OF the British En-
pire, says Consul Comm In Dd1v Consular and Trade
Reports. India. with her cnormous resources. Is
close to the Persian Gulf and therefore q natural
market. Great Britain In the days OF tho East
India Company established her MINER nrmly
IN the gulf; but In spite OF these advantage the
fact that the British Empire has successfully main
tanned Its commercial supremacy Is one more proof
of the tremendous leverage given by a mercantile
marine. Great Britain has done much 10 earn her
position In the Persian Gulf. II was her nsvs!
orlcers who surveyed Its waters. her warships
which stamped out piracy and lswiessness. and u
Is her gunboots which now guarantee security 10
commerce.
The total trade Of the Persian Gulf ports. includ,
ing Maskat. is upward OF $40. 00o. 600 a year. Bushirc
and Basra control about 10 per cent. British trade
with those two cities is about half their total trade,
and with the smaller gulf ports OF Bahrein, Bender
Abbas, Linjah, Sharjah, Dcbai. Maskat. DC, the
British share is much larger. In all Brltnins Per
sian Gulf trade is worth $50 900 900 a year. in addi-
ton TO which she gets the Job OF hauling most OF
the freight.
Germany has entered the field with h monthly
steamship service from Hamburg started a year
ago. German capitalists hold a concession from
Turkey for the Bagdad Railway. IL remains 10 be
seen how successful Germany will be In competi-
ton with Great Britain.
American trade with the gulf Is but a drop In the
bucket. We import dates from Basra and Maskat
and export a few bales of shectlngs. some gold and
silver and odd cases of miscellaneous merchandise,
There is a large market here" says the Consul,
"for American sheetings. print goods. oil. hard.
ware. machinery. &c. Some American merchandise
reaches Persia by way of England and some by way
OF India. but the amount Ia small"
There will be unlimited opportunities for trade
in eastern Mcsopotamia when the development
OF that country Is once begun and our inlet will be
via the Persian Gulf. In fact II Is Impossible to
emphasize too strongly the commercial importance
OF this territory and the opportunities II offers
10 American exporters. Al present they ignore
IT," says the Consul.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03

To THE EDITOR OF The suN-Sb: There was
once a really good country hotel near New York. Il
was the Palmer House at the Croton Dam, UP near
the limo between Westchester and Putnam coun lies.
Now its site Is covered by the water OF the new
reservoir, seventy feet deep. II has perished and
with II has persisted. 30 far as I know. tho last OF
Its kind.
Is there another really rood country hotel any
wherey n. II. T.
NEW YoRx, July ..
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03
Some Observations.

The age In which We live 70 day
10 like milady's hat:
It's hard 10 tell which way n trends
or n where II Is at.
Regarded from q certain view
There's reason 20 suppose
IL really must DO right side up
And that Il forward goes.
But when We take smother look
II takes another tack.
And We are certain from the TIT
II must be slipping back.
But. % for Us. II hat or sge.
We try 70 Judge II not.
We only know IT'S fair TO see
And costs q precious LOT.
Il McLASpBuRon WILSON.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03
BrtAk's job.

To TEE EDrroB or TEE SuN-ISr: Brisk has
been running 9 Staten Island exprets for years and
runs II now.
what's the matter with putting him in the
I'm ehortn z. s. r.
PORT RICHMOND. July I.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03
OF Isaac.

Newton had Just discovered what msde the
apple fall.
But" they asked. do you know what makes 10
attractive 70 the small boy when 10 10 grccn'-
The great scientist W. tain 70 give ituA
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03

To THE EpIroR OF THE SuH-Sn: OF what sort
of wood Is the Big Stick, Why Is IL generally pic.
tured as being so large that II seems heavy enough
% weld Its would.bc wfeidcrf FxLx FnKINs.
FoRr PLAIN. July .
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03
A Classic and Q STANDARD Geniua

Seven cities we're claiming Homer dead.
That's nothing asserted John D.: look how
many want me living"
seAig, thu. poet spotc his bloomir, Tyre.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03
In.ubordinate Civil Servants.

To rus EDITOR or TEE SuN-.sN: As o means
OF lmpressing on property owners, merchants.
bankers and manufacturers the alarming condl-
tons existing in the city to-day because of the gar
haze cart drivers strike. l would appreciate your
irving space 20 the enclosed copy OF a letter which
nave to-day written 10 the Hon. George n. McClel.
Ian. Mayor. regarding this matter.
NKw York, July l. O. d. GRAY.
Sin. II It would do any good 10 give in to the
strikers who are laying the foundation for
disease, death and great financial loss to this
CITY. | would say give them what they ask
and let the city be cleaned up at once.
Giving in to them. however. will not sc-
Complish the result. because az soon as one
point has been gained by force, new demands
are Immediately put in motion only TO be en-
forced a little later on. IL is because NOR
chants. manufacturers and corporations gen
orally have given in TO the unions heretofore
that the great city of New York is to-day in
the condition in which 10 Is. ! hope there
fore. as a suggestion coming from a large tax
mayer Of this city. that you will at least con-
slider the following: that you employ the police
force, the militia il necessary. and any amount
of the City's money. to have the city thoroughly
cleaned up, and kept clean, and next take steps
20 investigate, through n good, honest citi-
zens' committee. the statements made re-
garding the claims OF the men, and IL the
claims are without foundation, rs no doubt
you will find them to be, then issue orders
that not one OF the men in any way connected
with this strike shall ever again be employed
in any department Of the cityis work. Men
who will set about to destroy a city like New
York, as these men are trying to do. deserve
the most severe punishment that can be melted
out TO them. Any combination Of capital
which would seek to spread disease in any
city, or which would interfere with the health
and comfort OF the citizens OF a large city,
would be called to account Immediately by
the United States. State and city authorities
and legally punished. Why not punish the
trust OF trusts: the ignorant. unreasonable.
unreasoning and lawless labor union men?
q. ID. GRAY.
Hon. Geor go r. Mcclellan. Mayor.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03

Paris once, ~ Rue Louis lie Grand. The daily and
Sunday editions are on sale at Kiosque Il, near the
Grand Hotel; Klosque II. Boulevard des cspucines.
corner Place de i'opers, and kiosque 10. Boulevard
des Italiens. corner Rue Louis IL Grand.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03
subscriptions by Mail, Postpaid.

Published by the Sun Printing and Publishing
Association at ITO Nassau street. in the Borough Of
Manhattan. New York. President and Treasurer
Of the Association, william NJ. Laran, 40 Nassau
street; Secretary Of tho Association. Franklin
Bsrtlett. S Nassau street.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1907-07-03
Horrors Of war.

eomplish anything
Bocker-Not unless 10 can abolish the Fourth.
The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1907-02-20

QUICK SERVICE
catches a busy man Add 80 quick
service
GOOD FOOD
aad you have a proposition that fetca-
- the man back again.
That's the story OF this restaurant
quick service" and good food" We
raight write a book. nut couldn't say
more. Price is always uniform and
reasonable.
THE METROPOLITAN"
RESTAURANT
Telephone 321
The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1907-02-20
OLD DIR. DRummoNp

After many years OF patient stutv
and experiment. has given the word
preparation which is an absolut,
aud permanent cure for every form n
rheumatism The price is SIS, but Il
month"; tllqgge bottles, enough for
worst case from the first dose. steIbe9
ny express upon receipt OF price b1
Drummond Medicine Co. New YORK
with full particulars and testlmonia,s
of wonderful cures.
The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1907-02-20
For COUNTRY PRODUCE
and
FEED STUFFS WE ARE HEAD.
QUARTERS

Also Exclusive Agents for
PAGE WOVEN WIRE FENCE
ROBERTSON e co.
400 Bay Street phone Ao1
We uUu-J- -----
twice year, but We are rsJ-. nor
shoes all the time. Persons.
The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1907-02-20
OUR MILK
SPECIALTIES
Dried Sugar Beet
Pulp.
Prepared Cow
Feed
Used by leading
Diaries
]. N. BURNETT,
Telephone %


Free Medicine samples
40 not prove that q remedy g. geod
tor anything. II you want to expert
ment. try samples for other ailments
han rheumatism. You can't AFFORD to
lose time and risk life iu taking
chances with any medicine which has
not stood the test ~ time Drum
qond's Rheumatic Remedy has .
twenty year record Of cures Write
u the T,rummona Medicine tv.. New
Yerk for literatJAs
Los Angeles herald., 1907-12-08
LYZzERI2p NZN1

half n million dollars 1t would be re-
quired to deposit with the Committee
good collateral on which loan was
negotiated for this amount. II. on the
other hand, bank had a credit totalling
this or any other sum, the Clearing House
Committee would Immediately issue to
that hank certificate which carried with
it pledge for this sum backed up by
the other associated banks. Thus 1t be.
came possible for the banks to make Inn
mediate use of all the funds on hand for
their "over-the-counter" business, with
out having to cripple themselves by re-
serving a large percentage of their cash
to settle up their obligations each day at
the Clearing House.
Those who recall the stringency that
existed for time in 1893. however, will
Clearing House Association suspended
payment for a second and the impending
panic was safely passed.
The names Of those men: Fl. w. Can
non, president of the Chase National
Bank r. D. Tappan. then president of
the Galatin National; G. g. williams,
then president Of the Ch mical National
Bank; William A. Nash then and still
president OF the Corn Exchange National
Bank; j. Edward Simmons. president of
the Fourth National Bank have ben
banded down in the annals of banking
history as the real heroes and pioneers
Of modern and sane banking methods.
which now form the bulwarks of the
solidty of the financial sinews Of this
nation.
Just such a crisis confronted our New
York banks short time ago. Money
was held at prohibitive premiums and
Trust Companies were falling by the
wayside at an alarming rate. This was
solely due to the unprincipaled methods
of speculating clique. who were manipu-
lating the funds in the vaults of banks
and trust companies controlled by them
for their own speculative purposes, to
the detriment and peril of hundreds Of
other institutions whose> methods were
legitimate. Money scared above the 100
per cent. figure and the scenes of Back
Friday were vividly recalled as stocks
came tumbling at an alarming rate and
none could see the end in sight.
Then it was that ]. Piprpont Morgan.
that Napoleon OF finance, jumped into
the breach and hurled millions upon mil
lions of dollars into the vortex of the
financial whirlpool, and FIVE minutes
thereafter money was to be had at the
normal rate of interest In such quanti-
ties as to ease the situation until the
same band of conservatives. who met in
1893. could again come together. discuss
the situat on, and devise ways and
means of effectually restoring confidence,
and stem the flow of gold from the
vaults of banks which were speedily be.
terrified depositors who were pulling
their deposits out In millions.
Their first step was to peremptorily
expel Heinze and Thomas and their as
Los Angeles herald., 1907-12-08

opened when the hall is flled with
dancers and others are waiting to take
their turn There is merry laughter
everywhere. the orchestra roars until the
cello and the violin sound as though they
would break. The men whirl faster and
faster until the girls begin to pant for
breath. Bas! Bas comes the cry from
every corner. The appreciation Is so
great the conductor is forced to repeat
every number a second time The noise
reaches Its height when two or three
hundred art students who have had sup
per at one of the restaurants or In an
atelier come to Buffers in a body.
To know the art created in this Quar-
ter and what the men and women who
live here enjoy, one should visit some of
the cabarets. Though LIE GriIlon Is one
of the best known. there are several. It
is to these haunts that the true Bohemian
loves to 20 where he may enjoy happy
hour free from wild strains Of music and
noisy laughter. Here be listens to some
Of the best satire ana some OF the clever
est songs that ar written In Paris.
These are composed and sung by men
Of genius, destined for one reason or
another to die without achieving fame
There is scarcely man we'll known Ii
France. who fs not caricatured in one OF
these cabarets. They know It and take 1t
good naturedly, realizing the humor of
the verses. To know the Latin Quarter
at its best one should be familiar vita
the Bal des Quartz Arts given by the
Art Students in April at the Moulin
Rouge. Months before the students of
the different ateliers are busy planning
costumes and tableaux for this gala
event. The floats represent everything
n f4AN 4sNaC pNW0 .a~
the Sea to a Flower Girl. The ball be-
gins at eleven and lasts until morning.
Only those having cards are admitted,
and these are not transferable. Everyone
who goes on the floor must wear a
masque.
Not all the gayety Of the quarter takes
place at night. In the Spring the Lux
embourg Gardens are lively with artists
and students of the quarter. Some come
to copy the Medlci fountains and gar
dens, others to rest and to drink In tho
balmy fresh air. Friday afternoon is the
day when women come from all parts OF
Paris to enjoy the foliage. the flower
beds and listen to the music Of the great
brass band. ~
In the outskirts Of the Quarter along
the Rue Vanguard the streets become
more deserted; the houses are more
hovel-like, while squatters and gypsieS
abound On Sunday the people Of the
Quarter come here to enjoy the shooting
galleries, the carousals and the tent cir
Gus It is here one sees the cockneys or
Paris. The girls who walk with swag-
ger, not the chic shop girl everyone must
admire. The men are no less grotesque
with the large checked vests and imitaf
ton diamonds that hauh on their vests.
The stranger comes to the Latin Quar-
ter to see wild and foolish excitement
and he finds to his surprise that love Y
the note struck hera--Iove for art, knowl.
edge, home and woman. The gayety
only the overture. the theme Is love
Sometimes gay, sometimes sad, some
times poetic. and sometimes tragic. out
aIwavh love. This Is why the Latin Quar-
ter ia fascinating and should be caIle4
the Heart Of Paris.
Los Angeles herald., 1907-12-08

The check OF each bank was a certih.
cate of its own indebtedness good 80
long as the person to whom 1t was ten
dered believed that the person who made
1t had the funds on deposit In the bank
on which 1t was drawn. and that t.
bank itself was solvent. No matter how
readily the check was accepted. however,
II would have no value unless its hand
ling meant that the actual cash was to
fint. Its way into the hands Of the person
to whom the debt was due. So the banks.
with the savings and deposits of their
customers stored safely away In their
vaults, made their clearances over their
own counters and sent forth their own
messengers, in person, with cash to pay
those they owed. who would not come
forward to collect. Thus the necessity OF
a clearing house became hourly more man.
ifest, until today its importance ID Sec
ond only to the banks themselves.
AS the commerce of the country ex-
panded II was found that the weekly
clearings ran into billions OF dollars, and
the weekly exchanges of credits into hun
dreds Of millions. For each bank to keep
on hand all the cash needed to meet the
demands Of all its deposltors, every day.
meant that practically all of the assets,
representing active accounts, must be
available at an instants notice. for 1t
would not do to delay a depositor or
creditor making demand for his money
longer than 1t required to bring the cash
from the vaults TO the teller's window.
There was both danger and waste In
such a system as this. The danger that
the banks, compelled to keep so large
an amount of cash on hand. would have
Los Angeles herald., 1907-12-08

as regards the rest of the banks. and
cash requirement OF but $4,000. 1t Is
needless to say that modern business
methods, In which the elimination OF
waste, and the saving of time. are the
chief essentials. would devise a means OF
overcoming a system so cumbersome and
SO uneconomic. and the present Clearing
House Is the result OF the ingenuity OF
those who set to work to evolve this sys.
TEN. With the advent of the Clearing
House came a mutual confidence which
In reality Is based on information con-
veyed from the head OF one bank to
another and so on until each is In posses
sion of facts bearing on the financial
needs and standing of the other.
With the advent OF the Clearing House
its members were in the habit Of max
ing, each to the other, a daily confession
of condition of the affairs of the banks
under each respective head. Business
grew apace and 1t was soon demonstrated
that a weekly confession greatly facili-
tated matters, although the right was ex-
tended to those In control of the Clearing
House to enter any bank, a member of
the association. and make a minute ex-
animation into its physical condition at
any time they SO pleased or thought nee
essary; for the real purpose and function
of the Clearing House is to take from
each bank belonging to the Association a
statement of its claims against other
banks, members of the association Of
course, to balance these statements, col.
lect the balances due from the debit
banks, and turn the credits over to the
banks entitled to them.
The Clearing House has not been called
Los Angeles herald., 1907-12-08

to shut down on their customers when
ever a stringency In the money! market
ensued. lest they cripple their own re.
sources, and place themselves In n posi-
tion OF being unable to meet all the de-
mands made upon them. The element Of
waste lay In the necessity of keeping
such a large sum of money lying Idle
in the vaults. thereby placing a tremend-
GUS limitation upon the investments
which the banks could safely make with
profit to themselves from the funds
placed in their keeping by their custom
ers. 1t therefore remained. for them to
devise some means by which their cash
outlay could be figured on net, Instead
of on a gross. basis.
The system of banking by the old
method can best be Illustrated by the
employment of figures Suppose that
bank had demands on a given day for
the payment Of $4,000 over its counter
by the presentation of checks by its de-
positors or bearers of checks drawn by
depositors. Then suppose that its checks,
aggregating $500, 600, are sent to other
banks by their depostors for collection,
and that checks on these same banks for
$3.50 900 are deposited with the first bank
for collection. Should the bank be max
ing its own clearings 1t would be COM
PEELED to keep on hand for it's immediate
use, In addition to the $4,000 for over
the counter payments, the $500.000 re.
quired for all of It's checks sent to other
banks for collection. In spite of the fact
that before the day is over $450,0OO will
come In from these other banks, thus
making the net result of the days op-
erations a debit balance Of but $4,000.
Los Angeles herald., 1907-12-08

sociates and tools from the Clearing
House Association, thus driving several
Of the institstions they controlled into
bankruptcy. Then the Loan Committee.
formed by such men as Alexander Gill
bert, president of the Clearing House
Association; James I. Woodward. presi-
dent of the Hanover National Bank, and
other bankers OF equal repdts. ;aclud
ing William A. Nash. James Stillman,
George F. Baker and William Sherer.
the Clearing House manager. Dumont
Clarke, head of the American Exchange
National: Edward Townsend, of the I'm
porters and Traders, and A. Barton
Hepburn. the ptesent president of the
Chase National. met and after a session
lasting all night several millions of dol.
lars were raised and pledged to tide
over those banks which were imrerilad
by the never ceasing drain ON their re-
sources. This action was repeated sew
eral times until aid from the National
Treasury, through George B. Cortelyou.
arrived in the form of $25.000,000 and
once more the banking circles Of New
York, as we'll as those of the entire
world breathed easier and another panic
was averted.
Until the Clearing House Association
stepped into the breach and put the Morse
Heinze-Thomas chain Of banks out of busi-
ness a system of bank kiting In New
York was being INDUCED In at such an
alarming rate that there is no telling
where 1t would have ended, or what banks
would have been swallowed In the specu-
lative whirlpool II this summary action
had not been taken. 1t was simply a rea-
sonably safe and sure means of using
other peoples funds for anothers private
purposes, provided of course the market
was right" but in this instance the mar
ket veered unexpectedly and exposure, loss
and ruin speedily followed. But the lesson
taught by the exposure is a valuable one
and 1t will not be easy for another band
Of stock raiders and traders to operate
with the funds controlled by the banks
which they. in turn, have got control of
by nefarious means. and sharp practices,
without being exposed before their opera
tions have gotten under full headway.
The eyes of the Association are wider
open today than ever before and the con-
servative element of Wall street Is graft
fed to know that Heinze and those of his
ilk are no longer factor In the financial
reckonings of the street.
1t is highly probable that after the storm
the banking interests of New York have
just weathered that every institution doing
a banking business will be safeguarded by
and functions of Clearing Houses will be
even more far-reaching In the future than
they have been in the past. But one fact
stands glaringly forth and that is: The
New York Clearing House Association
saved the day. With Morgan and Cortel-
seemingly dark and bottonnless abyss, but
not dollar failed to again come to the
surface and find its way back to where 1t
belonged