davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1907-11-05
OPPOSES EXTRA SESSION.
Head of Bankers Association Calls
Congress Plan Un1ciSe.

Louisville. Nov. 4-COlonel ]. II. Powers. pres.s
dent OF the American Bankers Association and
prominent fnancier here. in reply 20 many letters
and kilograms from all parts OF the United States
regarding his attitude toward an extra session os
Congress to consider the financial situation. mads
the following statement to-day:
have declined Join in the request TO the Presi-
dent TO call extra session OF COngTess 1 beleva
IL would be great mistake TO call extra
sion at the present time. There is nothing in tbs
situation 10 justify il. COnSresSmen are not tha
best advisers at times like the present. The gov
ernment through its Secretary OF the Treasury
and Controller OF the Currency backed by th9
President. has done and is doing all that is neces-
SaTy TO aid and assist nancierS quiet and allay
the agitation and unrest growing Of conditions
that. sooner or later. were bound to produce thar
Nhlch has been caused by OverSpeCulatiOn IN nc"
CtiOuS values
We are face 10 face with great lesson. which
VIII result in substantial good the country in
general and the banks in particular congressman
are now al home. and they will not fail TO prOhs
ny the experiences OF their constituents and when
they assemble next month in regular session they
VIII take up the Fowler bill with greater interest
and more wisdom than when they laid IL down az
the close of the last session.
The conditions are for n speedy Termination o.
the temporary difficulties that have OccaSiOued far
ers than among the people. What is needed now
IS quletude and patience. When the gold that ls
now anoat arrives in New York currency Will begin
TO De released and Will circulate between trads
Will prevail.
New-York tribune., 1907-11-05
HAMILTON GETS MANY AssENTs.
President Montgomery Thinks Bank Will
Soon Open It's Doors

William h. Montgomery. president of the Hamll-
ton Bank. received yesterday large number of
assents TO the plan by which the bank hopes soon
TO business. This plan provides that de-
positors shall receive 10 per cent when the bank
reopens. % per cent in thirty days 25 per cent in
sixty days rs per cent in ninety days and the
remaining Is per cent in one year. Speaking of the
situation last night, Mr. Montgomery said:
'I believe that shall open our doors by tho
end of the week There are, however, some skep-
teal persons who have consulted lawyers as to the
plans. and who have been advised not to sign the.
agreement, the ground that the bank will open
It's doors within short time.
4nis, however, is not the The Hamilton
Bank will not open its doors until assents have
been received from its seventeen thousand depos-
itors. II do not receive the assents the bank
must go into the hands OF receiver.
Il do not believe, however. that receiver will
be necessary. for to-day have received many
assents and from indications word from all of the
depostors will be at the bank in two three days
when we have received the assents the matter
will be placed Immediately in the hands OF State
Superintendent Williams and he VIII, I know grant
permission 10 open the doors. lie has. together
with the Clearing House, approved of the plans
New-York tribune., 1907-11-05
MERCHANTS ASSOCIATION CONFIDENT.

AT meeting Of the executive committee Of the
S-erchants Association, acting on behalf Of the
board OF directors. yesterday resolutions were
adopted expressing complete confidence in the re-
suits accomplished by the men who led and CO.
operated in the recent movement for maintaining
the stability and integrity OF the financial institu-
tions. and urging upon the members of the as
socation a similar confidence
The resolutions called upon the members to use
their utmost endeavors to communicate this conf
dence TO others coming within their influence, Ito
the end that there might be a steady Improvement
in the situation and no interruption of the condi-
tions, which promise continued prosperity"
1t was further resolved. THAT the thanks of the
community are due TO j. Pierpont Morgan, TO the
able men who have acted with him and TO secre-
tary Cortelyou for their self-sacrincing and efs
hcient efforts to bring about restoration of pub
lie confidence
New-York tribune., 1907-11-05
SCRIP SYSTEM IN SAN FRANCISCO.
Relief from the East Looked to for Abate-
ment of Financial Conditions.

San Francisco, Nov. 4-Ths circulation OF IS. $40
and $40 clearing house certificates IN lieu OF legal
tender was begun among the banks OF San Fran
cisco to-day. Approximately s. 100000 worth OF this
quas-curTency is available TO the call OF the eigh-
teen clearing house banks. but what proportion OF
the total written face value will be drawn into cir
culation this week depends upon the action of the
Eastern bankers II In the settlement of over
due balances TO the credit OF the San Francisco
correspondents they apply fair portion OF the inn
port sold now in shipment from London to South
American capitals. the money scarcity will be
quickly relieved. Otherwise it IS likely the entire
100000 OF small denomination certificates will bs
required and an additional issue may have to be
written. These certificates are secured mostly by
deposits of standard securities by the eighteen
clearing house banks
AL the banks will be closed tomorrow on ac-
count of election.
New-York tribune., 1907-11-05
MINERS STRIKE FOR CURRENCY.
Four Thousand Men Object to Checks-Steel
Plant at Joliet May Be Tied Up.

Danvllle Ill., Nov. 4-Four thousand miners en-
ployed in the coal mines at Kellyvile SteeltOn and
Westvie. few miles south of this city, are prac-
tcaly strike a result OF the financial trouble
Last week ths miners were Informed that on
Thursday. the time for the regular bImonthIy pay
day. they would be paid in checks instead OF
currency, the usual way. On Friday only a part
of the men were at work. and on Saturday the
entire four thousand failed to report for duty.
The men decided not to go TO work to-day until
assured that they would be paid in cash. and the
mines idle II is said that the strike will entail
serious results II II is continued for any length OF
time 1t is stated that DanviIle itself has not mora
than three days coal supply. In addition 10 this
the big plant OF the Illinois Steel Company. az
Joliet. ILL.,. according to information would be re-
CURED to close down within week II the strike
continues that long or longer.
New-York tribune., 1907-11-05
BOSTON ADOPTS NEW YORK PLAN.
Only Totals Issued in Weekly Bank State
ment-No Delay in Collections.

Boston. Nov. AT meeting Of the Clearing
House committee to-day It decided 10 follow
the procedure in New York and issue only totals in
to-days weekly bank statement emitting the usual
Individual condition of the local institutions. New
York funds were % per cent bid and 60 asked at
the Clearing House to-day but no sales were
ported
When the statement was issued it showed that
the legal reserve maintained at S.S per cent
There decrease in the surplus reserve OF
ST. 75l.57 and decrease in funds in New York OF
s462s.531
Boston bankers locked upon the statement with
out concern, affirming that local banks We're in a
sound condition. They expressed confidence that
constant Improvement in tho general situation
would be noticed satisfactory feature was noted
in the fact that collections being made without
delay throughout New England.
New-York tribune., 1907-11-05

had already begun. The record decrease in re-
serve shown in the bank statement on Saturday
and the long drawn out conferences Of Sunday
had engendered considerable nervousness among
holders OF securities, and bad" opening was
generally looked for. The quotations for Ameri-
stocks in the London market showed de-
clines ranging from one TO three points in the
active issues.
AS expected, the local market opened at sharp
declines in all the leading stocks, Union Pacific
dropping TO 1857, against 109 at the close on
Saturday, and Reading, st. Paul, Copper Smelt-
ers, the Hill stocks, New York Central and Atch-
ison recording declines OF two points or more
1t looked for moment as if the market might
get out Of hand again, was the in the
recent panic.
At the low levels, however. strong supporting
orders appeared, said to have been placed in the
market by pool Of bankers more powerful than
any OF the recent combinations, and the signs OF
Generalization soon disappeared Led by Penn
sylvania, which selling ex dividend at BIZ
per cent, and the United States steel stocks, the
whole market steadied itself quickly, and by the
end OF the first hour of trading began to move
upward brslly. One of the most potent factors
in the rally was that there We're no signs of
heavy liquidation even when the market was
declining in the opening dealings. The floor
traders quick to detect this welcome indica-
ton of a sold-out condition with the result that
there was a lively scrambling Of shorts to get
under cover
AS the session wore on, however. it became
evident that there was more underlying firmness
in the market than had been seen for some time.
Pennsylvania regained its entire dividend,
while Union Pacific sold above 10, ST. Paul
above 10S after touching 9S94, and Copper above
81. Sugar advanced four points. to 1O4, and
Smelters sold at 699s The two Steels were espe-
ciaIly buoyant. the common advancing to 24ss
and the preferred TO S41a, New York Central.
which had earlier sold at "a. touched 80 on the
rebound. Northern Pacific advanced from 1O4A
to 1885, and Southern Pacific jumped from
67l4 10 s7a4.
MARKET STRONG TO THE CLOSE
The market continued strong TO the close,
which was in a majority of cases at the best
figures of the day. Sentiment which had been
so depressed when trading stopped on Saturday.
was more cheerful than at any time in the last
three weeks, and brokers and traders alike went
home feeling that they could enjoy well earned
holiday.
The engagement of several million dollars moro
Of gold for import, combined with the knowledge
that a large consignment of the metal was due
TO arrive to-day the Kronprnaessin Cecilie
also helped to revive confidence
Little attention was paid to the advance in the
Bank of England rate of discount to per cent
it felt that this was only a necessary
measure Of precaution in view of the heavy en-
gagements Of gold in London for New York The
drop in call money to per cent near the close
of the market did not receive much considera-
tion as most of the loans made by brokers were
at 20 per cent
New-York tribune., 1907-11-05
WANTS MONEY FOR NORTHWEST.
Senator HansbrOugh Appeals to President
for Funds to Move Grain Crop.

St Paul. Nov. A special from Grand Forks
N D., says that Senator Hansbrough sent the
following telegram to President Roosevelt to-day
Fully 15cOOOoOO bushels Of grain are now ready TO
be marketed in the two DakOtas and Minnesota
and there is money with which to do it The
necessities OF tho Northwest ara, therefore. much
greater than in any other section Of the cOun-
try. demanding the fullest consideration at the
hands Of the Treasury Department.
Ten million dollars placed I'm Twin City banks
would raise the embargo and start grain ship
meuts 10 Europe. This would relieve the financial
stress In the East much quicker than deposit
of Treasury funds IN New York.
Treasury relief operations should have been be-
gun here. where the congestion is greatest. Our
people are not losing their heads. They have no
fear OF panic. but In this crop moving season our
business men should have special consideration
New-York tribune., 1907-11-05
NO DEMAND FOR NASSAU BONDS.
Only Two Bids Received by County Board
of Supervisors.

NineoIa Long Island Nov. Bids which were
called for by the Nassau County Board Of Super
visors for $250OOO worth OF road Improvement and
maintenance bonds were opened here to-day. Only
two bids were received Tho Freeport Bank bid for
$4,000 worth, and the Nassau Union Bank. OF
Brooklyn. acting for client. bid for $4,000 worth
Both bids were at par. The bonds bear per cent
The representatives OF two banking houses which
did not bid attended the meeting. and told the SUI
pervisors they could not bid at this time but that
they could take the bonds and dispose OF them for
the county at fair rates No action was taken.
New-York tribune., 1907-11-05
pITTsBURe SITUATION IMPROVES.

Pittsburg, Nov. 4.-Bankers report conditions in
local financial circles steadily improving. The ar
rival this week Of gold Is expected TO relieye the
money srringency TO great extent The issuing
OF Clearing House certificates is benehting condi
tons but the request for them is smaller than was
anticipated.
The Stock Exchange remained closed to-day and
probably will not reopen this week
New-York tribune., 1907-11-05
NEBRASKA WILL ISSUE WARRANTS

Lincoln. Neb.. Nov. 4-After looking up the law
governing the Issuance OF warrants against state
appropriations Deputy Auditor Cook declared To-
day he could not refuse to issue warrants. as no
had decided earlier in the year. the advice q Z
State Auditor Searles and State Treasurer Brian
Mr.. Searles is out OF the city, and authorized his
deputy to cease issuing warrants. but Cook now re-
fuses TO do Cook declared he will act slowly in
issuing warrants but will not decline to issue
them to creditors OF the state.
New-York tribune., 1907-11-05
A HAMBURG FIRM SUsPENDs.
The Failure Not Serious-Markets Weak in
Berlin and Paris.

Hamburg. Nov 4.-The banking and broker
age firm OF T. Lappenberg suspended payment
to-day owing to losses sustained through GUS
toners. The firm which also did an export and
import business had high standing IN financial
circles
Apart from 100000 marks due TO family cor-
nections. the liabilities are only 100000 marks
while the assets are 10000 marks.
New-York tribune., 1907-11-05

Berlin. Nov. 4-Prices on the Roerse to-day
opened weak upon the Lappenberg failure az
Hamburg, and fell away still more sharply later
on the announcement of the advance In the dis
count rate of the Bank of England. which caused
apprehension that the Imperial Bank Of Ger
many might make another advance in it's rate
Declines were especially heavy In Americans
New-York tribune., 1907-11-05
NEW ORLEANS MARKETS EIRMER.

New Orleans, Nov. 4--DifiicuIty in procuring cot.
ton In tho interior had the effect to-day OF produc-s
Ing a much frmer spot market at New Orleans and
other points A disposition by planters to hold their
cotton for cash payments rather than accept ceTt'
fled checks has brought about this condition end
promises 20 prove factor In retarding the move
ent OF cotton abroad unless currency for the pur-
chase of the interior cotton is supplied
New-York tribune., 1907-11-05
T.. s. STILL DRAWS GOLD.
Bank of Englands Rate increased
H Fall IN COnsOLS.

London, Nov 4--America purchased to-day
all the gold in the open market. about 100000.
The price paid was 7ss. sd. plus the commits
sion.
The United States this afternoon took $4,000
in bar gold and 10000 in American eagles from
the Bank Of England in addition TO the pur-
chase in tho open market.
The persistent demands from America in spite
OF the recently increased discount rate Of the
Bank OF England and in face Of the continued
rise in the cable transfer rate caused the Bank
OF England this morning TO raise its rate from
81 to per cent. Although an increase to this
rate next Thursday would not have surprised
tho market the announcement of the rise to-
day caused local furry. The action is con-
sidered. however. TO be the natural outcome OF
the unfavorable New York bank statement
When the Bank OF Englands rate was raised
20 5Iz per cent October 81 It was thought
that the position in the United States was
clearing satisfactorily, but the continued en-
gagements Of gold at a loss OF from to per
cent on the exchange rates caused renewed
nervousness in the discount market. and rates
were put up from SIS 10 per cent in endeavors
to assist the bank to protect its reserve. The
futlity of these efforts is shown by the fact
that since Thursday the United States has
drawn daily from the bank sums already ag-
gun 10 withdraw gold.
These purchases. in spite OF the 6 per cent
bank rate. caused a revision OF tho belief held
earlier I'm the day that It would not he neces-
sary TO increase the official minimum, and the
proba bility OF per cent rate next Thursday
discussed.
Three months discount rates are now quoted
In the money market at G12 per cent.
Tie higher discount rate and the dear money
fears caused further shrinking OF consols.
which closed y down the day. Americans
however, improved tho gold purchases and
support from New York and closed firm, the
active issues being from TO three points
above the lowest quotations Of the day.
Copper shares dropped with the metal and
foreigners we'll diamond shares weakened
on Paris selling.
The. general situation here, however. Is re-
garded as sound, and the declines on the Stock
Exchange registered to-day were more in the
nature Of a sentimental marking down Of ouoto
tions than actual selling. The market. in short
regards the advance OF the bank rate as n
purely protective measure against Americans
gold demand and 10 prevent the New York CITY
per cent bonds from being placed here
New-York tribune., 1907-11-05

Paris, Nov. 4.-Prices opened weak on the
Bourse to-day and an excited tone prevailed on
the New York advices. The increase in the dis
count rate OF the Bank OF England steadied tho
market but the later news from London and
Berlin brought out renewed liquidation. and ar
the close prices were very heavy
New-York tribune., 1907-11-05
DULUTH BOARD RESUMES.

Duluth. MINI, Nov. 4--After weeks suspension
trading resumed to-day the Duluth Board
OF Trade, the members believing that the hnan-
cial situation had adjusted Itself sufficiently 10
allow them TO resume business.
New-York tribune., 1907-11-05

Though 1t is unusual for the Bank OF England =,
change Its minimum rate OF discount on any other
day than Thursday. such a step has been talsen
twice in recent times. Tho advance 10 ner cent e,
December. 1900, was made a Monday and tho
advance to tho same rate on October 10 last veo-
was announced on a Friday. The per cent rate
Just declared follows an advance from AZ Der cen.
last thursday 70 u per cent and IS the maximum,
since 1873. The figure is the highest since Tap,,o
II OF the current year. when the rate was reduced
from per cent to per cent It was reduca5 q,
az per cent on April IL and to per cent a fort
night later On August IA II was advanced 10 A.
per cent. Il
New-York tribune., 1907-11-05

TO CURE A COLD IN ONE DAY
Take LAXATIVE BROMO Quinine Tablets Drug
gists refund money IL IL fails cure. r. W
GROVES signature IL each box goo "
New-York tribune., 1907-11-05

awaits the person who discovers
that a long train of coffee ails
can be thrown off by using
The mirror. (Stillwater, Minn.) 1894-1925, 1907-12-12
Industrial Inaprouenaents.

IT IS rather the rule nowadays to read about
what cold, pi,iless, materiaistic age living
in. Occasionally get glimpse of the opposite
side of the question, and the outlook assumes
cheerful aspect. What appears being cold and
pitiless is really the dawn of brighter day. Every
where there are innumerable evidences that the
attitude of employers of men is undergoing change
for the better that promises BETTER tolerant
existence for the man who tolls. This recognition,
atho reluctantly gained, will foster and stimulate
feeling of good will that has heretofore been sadly
neglected, and which has frequently worked to the
detriment of both parties
Nowadays the employers of men, especially rail-
road companies, instituting many reforms the
purpose of which is bound to have uplifting tend
ency. These reforms consist of rewarding men for
faithful service odage pensions, fees for those who
prevent accidents or who suggest improvements
whereby the service may be bettered. These fees,
while not large stimulate healthy tone of rivalry.
and they help the companies granting them as much
as they inspire the to strive to earn these
wards
While it is admitted that idea! conditions do not
prevail everywhere, still there is marked improve
ments being made in the industrial world. They
vastly better than they fifty twenty five years
ago, and with the progress being made the next
few decades should witness still greater forward
step. No. the world is not growing harsher; it is
only few individuals who cause to imagine
that things are getting worse instead of better.
The mirror. (Stillwater, Minn.) 1894-1925, 1907-12-12
W7aither lire We Dritttin6?

/Wh1t1eT Hire We DTJft1NS!
ACCORDING to all the signs it appears as tho this
country is about to usher in an era of paganism
Altho concerted action is discernable, here and
there incidents have transpired which clearly in-
cate the trend of national sentiment The time hon.
ored motto, "In God We Trust" has been dropped
from the coinage; in New York the board of educa-
ton has forbidden religious instruction, even the
hymn books have been blue penced of everything
that pertains to the deity In cultured Boston the
Christian Bible College has eliminated the classic
story about Jonah and the whale, and SO it goes.
ALI this may may not indicate that the people
of this country becoming irreverent but it does
show the latent antagonism that exists between pow
erful opposing forces. Altho few public school
boards have ever sanctioned the movement toward
incorporating religious instruction in the schooroom
it is difficult to why anyone should prohibit the
singing of nonsectarian hymns In>time this coun-
try may develop religious controversy similar to
the one which recently swept over France. The in
dications all point in that direction The world does
not wish to see ushered in such fanatical religious
wars which have occurred in the past But it is not
likely that such will be the case, still the ranks
of the opposition to the church constantly being
augmented, and it would not take much aggression
on their part to the church to its sense Of
duty Well may one ask, when confronted by these
facts, Whittier are drifting? Is it paganlsm or
what?
The mirror. (Stillwater, Minn.) 1894-1925, 1907-12-12
Character.

No ONE, can properly estimate the value of a
good character until he has lost it in the mad whr
of vicious temper or has shattered it by engaging
in questionable means of acquisition Character is
one of the most beautiful structures which or
woman can build in this world; and pause for mo-
ment and think of the countless thousands who,
fguratively speaking. toling to build good char
acters We have read of the gores of the pyramids,
the gigantic stone wall that encloses the Chinese
empire, the magnificent temples Of ancient Greece
and Rome, but what is there more gorgeous than the
building of a good character?
We are all profoundly mindful of the value of
a good character, for our status in the community
and in the world depends largely upon it. There
few men occupying trusted positions but what owe
their advancement to the that their characters
are unblemished Our characters not built in a
year ten years; they only completed when
death intervenes After death the work ceases, and
them we will be judged according to what we have
accomplished.
What a botch have thousands made of their
characters! What hideous thing it is when built
on deception dishonesty, and hatred! One may have
good reputation for probty but if his character is
bad, his reputation is almost worthless. He who
loses his character by the commission of lawess
act, has lost of his most valuable possessions.
What struggle it is to rebuild the ruined edifce!
Those who have been. thru the crucible know what
the fight has cost
With unlimited wealth build costly
marble palace, furnish it with priceless works of art,
engage landscape artists to beautify the spacious
lawns, etc., but matter how rich We may be or
where we may go, we cannot purchase ready built
character. This is something we must fashion our
selves as 60 thru life So is well to be careful
and at all times jealously guard your character.
Permit no man to assal it unchallenged.