davidaulloa/AmericanStories huggingface dataset:
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25
aftermath OF LATE PANIC.
FTNANCIERS UNDERTAKE TT
TELL WHY 1T HAPPENED.

Andrew Carnegie, William Sherman
of the New York Clearing House
And Comptroller of the Currency
Ridgeley Among Those Who Have
Essayed the Task-COnlitions Still
Very Much Unsettled.
New York, Dec. 22.-The financial
markets last week were largely con-
cerned with the preparations for the
coming annual settlements, and ope-
rations in securities were, for the
most part, in allegiance or under some
oppression. Transactions in stocks
were to great extent in professional
hands and the pressure on the mar
ket was not acute. in spite Of the soft
ening process in progress by the
banks. With the premium on the
currency persisting in New York. and
the outflow Of cash to the interior still
going on. in spite OF the period of the
usual return Of the flow Of funds,
which go out to move the crops, the
conviction was borne home to bank
ers that the return OF normal banking
conditions was not TO be looked for
before the turn OF the year. Since the
Clearing Houses banks have made up
but part Of the deficit below the
legal reserve held and sthl have a
large volume Of Clearing House GER
tihcates outstanding, the imperative
call to proceed with the work of re-
cuperation was recognized. The heayv
demands TO be faced for the year-end
settlements emphasized This call. The
money market was affected in conse-
quence, call loan rates ruling higher.
The time loan market continued al
most nominal. the supply of funds in
that department being OF the scantiest
ana there was no effective demand for
mercantile paper of which an absorp-
ton Is relied upon to carry over COM
mercial affairs through approaching
maturities Of large obligations.
The week was notable for the i'm
portant contributions in public ad-
dresses and official reports from MANY
Of the best-informed minds on tinan-
cial affairs to the discussion and elu.
dication of the causes Of the recent
crises and possible remedies. The ef
feet has been to broaden the general
comprehension OF the far-reaching.
underlying conditions which led I'D
to the crisis and relegate to their
proper position OF relatively less i'm
portanCe some OF the more violent
manifestations and banking and
money operations. which were symp-
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25
Bl0n0sHE0 At gtRSHAV.
TWO MEN KILLED AND ANOTHEI;
WOUNDED.
Business Men Settle Differences Will,
Pistols an,l the Peacemakcr Was
The First Il, Fall.

The First t. Fall.
kershaw. Dec. 22.-What is con-
ceded to be the saddest tragedy ever
enacted in Kershaw occurred in one
Of the barber shops at a late hour
Saturday night.
With Christmas approaching and
everybody making preparations and
entertaining bright hopes and pleas
ant anticipations for merry good
tine, sad gloom isl cast over tho
community that time only can efface
by the killing Of two Of the most
prominent young business men and
the woundlng Of a third.
There was an alteration between
Mr.. S. w. Welsh and Mr.. Berry Mob
ley in which pistols were used freely
Mr.. Welsh, shot siX times with a
Colts revolver and Mr.. Mobley sho,
three times With a Smith 6 wesson
While the shooting was in progress
Mr.. T. l.. Clyburn sought to interfere
as peacemaker with the result that he
and Mr.. Welsh are both dead and Mr.
Mobley seriously wounded. Mr.. ely
burn was killed accidentally.
Mr.. S. W. Welsh was a member OF
and manager Of the Heath Supply
company, a son of the late Capt. J.
V. Welsh and was unmarried.
Mr.. T. 1. Clyburn was member
Of and president Of the Clyburn Mule
company, and leaves a wife, who was
Miss Dora Cunningham.
These young men possessed keen
business qualifications and had we'll
merited the confidence Of their asso
ciates and friends. They leave large
and influential connections in Lancas.
ter and Kershaw counties, who will
hear with sad hearts Of the sudden,
taking away OF their lives in the
prime Of manhood.
The shooting was all done at short
range and death was instantaneous
with both.
Mr.. Mobley is connected with j. M.
Carson & Co.. and has friends galore.
He has wife and five children, who
are prostrated with grief. No one re-
grets the affair more than he. While
he Is very seriously wounded, DR.. w.
G. Twitty. the attending physician.
gave out the statement that hopes
were entertained for his recovery.
The inquest was held today and the
jury rendered the following verdict:
THAT Mr.. Welsh came to his death
by gunshot wounds inflicted by Mr..
Berry Mobley, and Mr.. T. L. Clyburn
came to his death by gunshct wo6nd
inflicted by Mr.. $. w. Walsh"
Messrs. Welsh and Clyburn were
frst eousins and were especially warn,
friends.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25
NEGRO KILLED At KERSHAW.
Resisted Arrest and Was About tO
Draw Gun When He Was Shot
Dead.

Kershaw. Dec. 21.-Mr. S. +.
Hough. constable for the trial justice
at this place. went out In the country
today to serve warrant on Henry
MCPHERSON. colored. He refused to
be arrested and while In the act OF
drawing his gun was shot by the con-
stable and died at once. His body
will be brought to town tonight and
the inquest will be held tomorrow by
the coroner
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25
WATUHMAN AND SUUTHRON. DECEMBER 25 1907

hundred million dollars This claim
Is made 10 Offset the general demaSd
for the revision of the tariff law and
a sweeping reduction in the schedules
but II should not deceive any one.
Everybody knows that a revision of
the tariff would increase the revenues
OF the government. since the impor-
tation OF goods from foreign counties
would be largely increased. A reduce
tion OF the tariff has q tendency to
create an unwieldly surplus rather
than deficit and the cry of the Re-
publicans that a deficit Is imminent
is the strongest possible argument for
a tariff revision and reduction.
1t Is about time for Col. Lumpkin
and Mr.. A. c. Jones to butt into the
senatorial arena.
Will 1t be possible for Gov, Ansel
to incorporate in his platform both
locai-option-counay -dfspensary and
State-prohtbition planks? II he can
not which horn Of the dilemma will
he grasp?A
The sales Of liquor in Sumter coun-
ty under the county dispensary sys-
tenn will not exceed the total under
the old system. While the. net profits
will be almost II not quite as great.
Already the net profits exceed $25,-
900 since the county dispensa,y law
became operative. and it is estir rated
that by the end of the first year Of
the new system the profits will ap-
proximate $50 900.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25

toms rather than active incjticc
causes Andrew Carnegie's assump-
tion that commercial crises are the
outgrowth Of inherent tendencies in
human nature not to be confined By
legislative restrictions was in placti-
cal conformity with the views ex-
pressed by VIM. Sherman, manager of
the New York Clearing House, who
declared that the sfeat disturbance of
capital caused by the war, between
Japan and Russia had been further
accentuated by the-earthuuake and
fire loss at San Francisco, while ex-
travagant living and the disclosures
in the management Of corporations
had helped to bring about alarm and
loss OF confidence. The annual re-
port of the comptroller of the cur
rency, VIM. r. Ridgeley, announced
what some regard as an Illuminating
opinion on the scope of the banking
disturbance, which broadened the
field of its causes far beyond the i'm
mediate troubles in New York. Ridge
ley says:
'The conditions which led to the
panic of October and November, 1907,
was not due to lack OF confidence Of
the people in the banks, but more to
lack of confidence Of the banks in
themselves and their reserves. Banks
have been fearful that the reserve
system would break down. In con-
sequence it has broken down, and
the reserve deposits have beer only
partially available"
BY analysis Of a working of the
provisions of the banking law which
allows deposit Of country banking re-
serves in reserve cities and of the lat
ter's reserves in central reserve cities
the comptroller arrives at the ccnclu-
sion that country banks keep but
per cent on hand in cash, and city
banks keep but IA per cent on hand
in cash. He argues, therefore, that if
there is a reduction Of the deposits of
the country banks Of $150.00O out of
10000, 900. or'only one-half per cent.
1t calls for more cash or rerseve
money--money that has been kept OIL
hand in the reserve banks for the
$10,00O,000. The consequences of
these conditions are found in the re-
turns of the national banks to the
comptroller, of December 3, Of which
the feature is the portentious with
drawals from central reserve cities
for heaping up in the country banks.
Another important contribution to
the discussion of measures for cor
rection was found in the exhaustive
report Of the special commission ap-
pointed by Governor Hughes to rec
ommend the reform Of New York
bank and trust company laws, espe-
cially in the reserve requirement upon
trust companies engaged in banking
business. Financial opinion seestwith
satisfaction wav thus opaned for
the correction Of Il situation that con
stitutes the weakest point in the
whole chain nt tho banking word
when the strain was put upon it.
In its Immediate effects ol sspu-
ment regarding the financial and
commercial outlook, this comprehen-
sive discussion and frank expression
have served to deepen somewhat the
appreciation Of the extent of the dis
turbance and there has been a cor
responding growth OF anxiety as to
the amount OF remedial work which
must be done to restore conditions to
their previous prosperous level.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25
KILL 1T NOW.

Inc iuea OF a MunfcipaI League"
organized and maintained for the
sole purpose Of naming candidates
for city offices, may appeal to some
Of our cttizens--a majority for all we
know-but speaking for ourselves we
cannot too emphatically declare our
opposition to and condemnation Of
the proposition, both in principal and
practice. There Is no existing need
for such political organization and If
those who are promoting 1t succeed in
their effort they will fasten upon
the city Of Sumter a government by
faction. and in the end we shall have
ring rule In place Of a democratic gov
ernment. The first fruit OF the crea-
ton Of the proposed municipal league
will be the disruption Of the city DEM
ocratic organization. which for years
has selected the candidates for muni-
cipal offices through the instruments
ality Of a free. open and fairly con-
Quoted primary election. in which one
mans vote was as good as another'x
The nunicipal primary Is democratic
to the core and we defy any man to
assert, and successfully establish tho
truth OF his assertion. that the can
didates selected by the primary have
been unworthy OF confidence or un-
faithful, corrupt and inefficient IN
the discharge OF their official duties.
The men who have been nominated in
the. primary by the white men of
Sumter and placed In Office by their
votes have been. individually and col
!ectively. as good men and citizens, as
Intelligent. al capable. as public spirit
ed and as honest In small things and
large affairs as could have been Sc
'eceted by any organization Of politi-
cal censors i'm secret caucus behind
closed doors. II the white citizens
Of sumter cannot go to the ballot box
IN a free, open. above-board manner
and select from among their number
competent and -, zen for the
offices of mayor ,rmen. then
sumter has fallen Evil days and
nothing is to be hoped for from the
efforts of the elect who may band
themselves together in the proposed
league.
1T may be. and probably would be,
claimed In defense of the proposed
league that no limit will be placed on
It's membership and all who may de-
sire to enroll as members may 90 so
but IL this be granted, wherein does
the league have any merit not now
possessed by the democratic primary?
IL all citizens are not to be admitted
rs members Of the league 1t will be
undemocratic I'm principle and prac-
tice. will eventually become ring
and will do the city far more harm
than good. Therefore fe warn all
who believe In a municipal govern
ment based upon democratic princi-
pies. all who are opposed TO rings
factions and secret caucuses, all who
ore antagonistic to the rule Of the
self-selected few over the many, to
have no part or parcel In the organi-
zation OF this political league. The
time to kill political, office-see king
faction IL at the incipiency Of the
undertaking and in the case Of the
Municipal League the time to destroy
1t Is before ~ is called into coherent
existence.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25

; exceptionally large corn crop
which the farmers of Sumter
y were blsssed this year should
Made an excuse for neslecting
NJ crop. Oats will be needed
spring rs usual.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25

aicr has come through the pam
sated by the Wall street gamb-
inscathed and business has gone
usual. thanks to the good sense
merchants and the lIberality
rcd with conservatism. OF the
= The banks were In excellent
tion when the financial crisis
precipitated In New York and
therefore In a position to take
OF their customers. While due
oi'd caution has been execcised d
pakins loans and no cfrorf has
mnde TO seek new business the
~ have protected their customers
have not failed to supply funds
&c, the legitimate needs CT the
J ess OF Sumter. In the matter OF
"a loans the banks have done
: fun share and the fact tina,
p than 1000 bales Of cotton are
stored In the local warehouses
suhstantaI testimonial OF the
y tn banks have I'm the strength
tho cotton situation anu In the
'ce OF the farmers cause.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25

The Republicans claim that con-
1c>ra h facing deficit OF az least one
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25

' is the time for the farmers to
Preparations for making q
mi profitable crop OF William
i corn. Deep picwins and
ig preparation OF the land IL
ne battle.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1907-12-25

> cotton speeuiators have sue
. j, depressing the price of fu-
BIT the fact that the price OF
oti IN remains above the futures
that they are finding II dificult
tate prices - they were FORM
ccrstomed to do. II the farm
IN continue the policy OF stor-
heir cotton and marketing II
thcv will win out In the end.
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18
Where Stamina Won.

The most remarkable instance of
stamina in the history of the Amer
lean turf was that of John C..
Stevens Black Maria, long life
time ago. In 1882 Black Maria won
a race of four-mile heats over the
Union course at Long Island in which
five heats were necessary to achieve
victory Over heavy track, this
wonderful mare won the first heat.
dead-heated the second, was second
in the third, second in the fourth
and won the fifth, running a total
distance of twenty miles. Black
Maria was on the turf six years;
started 25 times and won 10 races
Eleven of her contests were three.
and four-mile heats.
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18
.Selectiorls
THE. GUILE STREAM.
It's Edges So. Sharply Defined That
They Are Visible.

It's Edges So. Sharply Defined That
They Are, Visible.
That the edges of the gulf stream
are so sharply defined that they are
visible has been reported on more than
one occasion The phenomenon was re-
Gently witnessed by Captains James
Horne of the British ship Loeb Garry
on recent trip from Australia to- Boas-
ton. A writer in Shipping Illustrated
says: "1he Eoch Garry few days be-
fore arrival at Boston lay becalmed,
when ripple on the sea: surface
aroused anticipation not of wind, as
was supposed but OF the close proXfm-
ity of the mighty river in titR ocean
known as the gulf stream. Spars, Iurn-
Der, life buoy and other flotsam were
borne past the ship to the eastward at
the rate of about couple of miles an
hour, yet the vessel herself remained
in the unaffected portion of the ocean,
which served, as it were, as Il bank for
the comparatively warm waters. of the
river in midocean.
Zone hazy night during the. civil war
a blockade runner left Wilmington,
N. c., intent on gaining the open sea-
Next morning federal paddle wheel
warship hove IN sight not far distant
1 and at once bore down. The, blockade
| runner was within an ace Of capture
when suddenly her captain noticed
| and fully recognized the gulf stream
ripple. He edged her away to- cross
| the presidential ripple without awak-
ening suspicion In the minds Of the
pursuers. got into the favorable cur
rent while the paddle wheeler was
striving against the adverse current ON
the other side of the nipple and got
| clear away.
"a Nantucket whalef;. Captain Fol
| ger, first pointed out to- Franklin that
| the gulf stream was a, decided factor
in the passage making problem of
those. sailing ship days Rhode Island
merchants had complained that the
packets We're longer making the trans
| atlantic passage than, the ordinary car.
| go, carriers despite the fact that the
hitter followed mere cireuitous route
Captain Folger shaved that, while the
gulf stream retarded the packets along
the northern traeAS.. 1t helped the less
well found cargo carriers, keeping wei
south"
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18
500 Reward, 500.

The readers Of this paper viii be
pleased to learn that there is att least
one dreaded disease that science has
been able to cure in ali lbs stages,
and that is Catarrh. HalfAs Catarrh
Cure Is the only positive cure now
known to the medical fraternftl. Ca
taYrh being CONSTITUTIONAL disease,
requires a constitutional treatment.
Halls Catarrh Cure is taken inter-
nally, acting directly upon the blood
and mucous surfaces of the system,
thereby destroying the foundation of
the disease and giving the patient
strength by building up the constitu-
tfon and assisting nature in doing lbs
work. The proprietors have SO much
faith in its curative powers that they
Offer One Hundred Dollars for any
case that 1t fails to cure. Send for
list of testimonials. Address,.
F. J. CHENEY & CO., Toledo, o
Sold by druggists, 75c.
Take Halls VANITY Pills for con.
stitutiOA. -
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18
How TO LOSE MONEY.

Md1fhe's Experiences Shows That Nil
nioEpaI Ownership Is Good Way.
The city clerk of Moline, III, writes,
as follows, in regard to the electric
light plant:
sOrigifal cost So, 900; terms, cash
1.-THE cost of operating the plant
while owned by the city is very hard
to determine from the fact that the
plant was at That time operated Hns con
nection with the waterworks- The
books show THAT appropriations were
made for both plants under one item.
THE reason for disposing Of the
plant: The plant being what was then
known as the old United States sys-
TEN, which company had gone out OF
business, herce repairs for our plant
could not be obtained, End as the same
was about worn ont tile only thing,
therefore, the souncil had to DO was the
construction of 81 new Esant or tonight
the city under c0Etrace- YAe l&ttcr
was adopted for TIE reason that the
finances of the city at the time did not.
allow the construction of "A new plant
According to a Local paper, the
amount invested in the plant at. the
time 1t VAS sold was $25,910, anG the
selling price was $1,000. The city
went into the business: because 1t was;
clafmed that lights ceuld be rTra for
about twe-thirds the price charged by
a private company. Although LOO
candlepower lamps were used and
those on moonlight schedule, the op+
Grating cost was found to be $3.50.
The. addition of interest depreciation.
etc, would have brought this up to
about 500! The present contract price
for 1900 candlepower lamps burning
an night Is $65.
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18

Some attention has been called to
the profit that may accrue to fruit
growers in Lewiston valley in double
cropping their land The length of
the season permits this and encour-
ages other forms of utilizing the sea-
sons to advantage. A Columbia
grower at Wenatchee has used this
fact to develop and propagate a
strawberry that ripens in, the fall
and comes on the market at time
to command the highest market
price. Success in this line opens a
large field for the successful propa-
cation of other varieties of fruits
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18
News Forecast for Tuesday.

NEW YOOK, Nov. 1S.-Among
the important news events scheduled
for tomorrow are the following:
Transmississippi Commercial con-
gress opens 18th annual session in
Muskogee, Okla.
National convention OF the Wesley
brotherhood, a Methodist body, be-
gins in Louisville, KY.
Convention will be held in Phila-
deIphia to foster project for improv-
ing waterways of the East.
National Municipal league, Con-
ference for Good City Government
and American Civic association VIII
meet in joint session in Providence
IR. I.
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18

1t is estimated from statistics of
the steamship companies that from
5000 to 10000 European tmmi-
grants are returning to their native
lands this winter because of the
financial depression and are taking
with them from 100000 to ST.
100000 of their savings in Amerf-
can money. Here is a fitting illus
tration of the fact that we have
been encouraging a class of unde-
sirable citizens. Laws passed this
winter further restricting immigra-
ton would be heartily received.
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18
THE CROPS AND FINANCES.

If the crops can be moved, the
country can quickly return to nor
NAL conditions, is now accepted as
the quickest solution to the present
financial situation. The crops of the
country have this year been worth
seven billion dollars. Europe has
had shortage and there is a heavy
demand for transport. If the crop
can be moved to this market, gold
will return to the American Golfers
of trade and the stringency will dis
appear. "a ~.
The president, in discussing the
relief proposed by Secretary Cortel-
you, is in accord with the proposal
to issue currency to the extent of
800, 0O0,0 900 and also points out the
suggestion that this be distributed
to centers where 1t will the quickest
facilitate the moving of the crops.
The farmer is to be the savior of
Wall street and the nation. The
land is the basis of permanent val
ues.
The prosperity of the country has
been no myth. 1t can easily be de-
termined by the bushel and the ton
and to convert it into dollars the
railroad lines and steamship com.
panies will be kept busy to their ut
most capacity for several months
and if busy labor in many branches
will be employed and consumption
will not stop, and all producers viii
be able to find ready market Unde
such conditions there can be IN
panic, and the money will return. t
the banks and to the legitimat
channels of .traSe. with the countr
no worse for the furry, and wiser |
that it has learned conservatism.
Lewiston evening teller. [volume] (Lewiston, Idaho) 1903-1911, 1907-11-18

The Mems Clothing sale
will continue all this
week Gin the Annex"
Overcoat time is here. If
you buy it here you will
save the price Of half a
cord of wood. Read
about it.
IS dozen Wool Socks,
made by the Rockford
people, the kind the boys
wear a week and throw
away. Pair &c.
Good All Wool Heavy
Ribbed Shirts and Draw
ers for Men, all sizes and
real winter weight.
Match it if you can at
SIPS. Special gar
ment CSC.
$1.OO Golf Shirts, made
of fine Colored Madras
Cloth, every garment
full size. The best bar
gain we have ever of
fered you. Special Csc
For Night Time
$3.50 Pajama Suits 81. 6s
Csc Outing Gown Csc
$1.25 Muslin Gown 95'
Good Suits will reach ths
lowest level in all Lew
iston. Can you afforc
to pass this up. If yol
don't need the suit nov
buy for future. Ever.
garment Union made
Every suit reliable. N,
trash, no shoddy, per
mitted to enter here.