davidaulloa/AmericanStories huggingface dataset:
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
BANKS
GROW POPULAR
Letters Received by POST
master General Favorable
to Plan.

The popularity OF tho plan of Post
master General Meyer TO establish
postal savings banks in the United
States is in daily evidence at the Post
office Department.
Almost every mail brings letters from
people indorsing the proposition, and
adding the weight OF their own expert
ence TO the desirability of the scheme.
A letter received yesterday from a
citizen Of Indiana recited that he made
it a practice TO deposit mis- money with
the Government by the simple means Of
purchasing money orders and holding
them for the full term OF one year. the
life OF a money order.
it is contended by Postmaster General
Meyer and the advocates Of the postal
banks that their establishment would be
the means OF drawing out much hidden
wealth that is now stored away in
stoves. bed mattresses. and other ia
vorite hiding places for small, ana. in
some instances, large wealth.
The money thus brought again into
circulation would be Of value 10 the
financial interests of the country, and
even prevent, it is contended by stu
dents of finance, financial panics. be-
cause It would be possible TO immedi-
ately divert the money from the postal
savings banks into national bank chan
nels. II is also commended that the
spirit of saving would be promoted
among all classes.
The popularity OF the postal savings
banks idea Is said by POstofdce Depart
ment people TO be almost universal. but
the parcels post proposition orthe POST
master General Is acknowledged 90 have
strong opposition among certain classes.
The Postmaster General has worked
hard to combat the opposition Of rural
merchants to the scheme, but with little
success so far.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
NEW YORK MONEY

NEW YORK, Nov. 9.-Money on call
loaned on the stock exchange at Is per
cent today Rates during the week
ranged between p and 4 per cent. av-
eraging about Is or 20. The market has
been very active, although there have
not been the violent advances Of pre-
viOus days. Out-of-town banks and
some Of the trust companies have ap-
peared as lenders. but their offerings
have been meager. On Monday loans
were made at 20 and 4 per cent; Tues
day, holiday; Wednesday, at Is and 10
per cent; Thursday at 20 and 6, and
Friday at 20 and s.
Time money was not offered by any
local institutions during the week Small
amounts were put out by foreign bank
ers for sixty TO ninety days a. rates
ranging from L to Is per cent, out Dor
rOwers, realizing the conditions exist
ing have not made any bids, and rates
were purely nominal at to ~ per cent.
Mercantile paper met with no demand
whatever in the city, and in the larger
money ceDters. Occasionally one OF the
smaller country banks made purchases
with funds obtained from maturing pa
pers. Rates nominally were 81 to 10
per cent.
Sterling market was subject to excel
lent fluctuations, with demand bills sell
ing from $4S9QS495; cables, from S464
20 S4S75z. Gold engagements have con-
dnued throughout the week, the pre-
MUM on currency dominating the ex-
change market to such al extent that
imports were profitable, even at the nor
NAL gold export level. On Monday the
market advanced "a cents to S4SSTS4 SO
for demand, and s4-94 for cables.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
FINANCIERS EXPECT
MANY PROSECUTIONS
Believed Many Prominent
Men Will Be Caught in
Dragnet.

NEW YORK, Nov. G-Though National
Bank Examiner Henna said tonight
that no criminal prosecutions have been
decided on against officials Of any OF
the banks around which the past two or
three weeks financial storm has been
raging most hercely, it is the general
depression in financial circles that
prosecutions are apt TO come.
The impression IS gaining ground that
instead OF involving only one or two
individuals. a considerable number OF
prominent men viii be caught in the
net
Five banks have been under scrutiny
and many conferences have been held
10 determine how far liability for al
legged irregularities extends It is said
the directors can be held responsible
only for criminal acts OF which they
had personal knowledge, but that the
executive committees may be presumed
tc know what is going on, as they must
pass on all the officials acts.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
COTTON FEYERISH,,
BULL POOL STEADY

NEW YORK, Nov. 9.-The cotton mar
ket continued in a very feverish and
uncertain condition throughout the ses-
sion today. All the. news from Europe
and New England points and the dry
goods districts generally was against
the market, but the weekend statistical
information as a rule somewhat encour-
aged the bulls. On the other hand, the
bear pool seemed more inclined to sus-
pend activities for the time being.
Prices declined s to 10 points IN the
early trading, but recovered this. and
closed unchanged 70 two points net ad-
vance Oh some covering Of shorts, and
continued aggressive support Of those
affiliated with the bull pool.
The closing prices.
December 1915 bid; January, I0.O9ql0.
March, 1014q10I5; May. 101Sa1O19; July.
10.23ql02I
The market closed steady.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
NEW FINANCE CURE
FOSTERED BY OWEN

senator-to-be Owen Of Oklahoma called
at the White House yesterday TO lay
before the President plan for the pre-
vention OF future financial panics. The
ideas embodied in the plan are borrowed
from the German financial system, the
Senator said, and in order TO make his
meaning clear and at the same time
prevent the possibility of the President
forgetting the remedy, ne brought
typewriter copy Of his prescription to
the White House
Two things are needed in our present
financial system for the prevention of
panics," says the Senator's financial
ready relief plan.
First, the guaranteed security Of de-
posters against loss by the insolvency
Of the banks.
Second a reasonable guarantee OF
depOsitors against delay in getting cur
Teacy for their deposits.
If the depositors are secured or made
TO feel secure in these two particulars,
they would have no reason Tor with
Ora wing their deposits in the first case.
or boarding them. in the second place
Panics would then cease in the United
states, and there would be no such
thing as currency stringency.'
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
SOME NEW YORK STOCKS GAIN
AND A FEW SHOW LOSSES
Gold Imports Tennessee Coal and Iron Sale Bull
Factors-John w. Gates Returns at Psyche
logical Hour and Bulls u. P.
,estor at tOday's market price, 50 per

weston at tOday's market price, 80 per
cent.
General Electric pays per cent on
present market value.
Atlantic Coast Line at 500 pays the In
weston 81 per cent II sold at sl6l.I5.
Union Pacific at Su1.37 pays . per
cent. 1t sold at 1885 last year.
American Shelters, common, at SCI
pays y per cent. $174 was the high
price last wear
Jersey Central sold at S2397s last year
1t pays 5 per cent at $160. and is con-
sidered a mighty good investment Sc
eurity.
Atchlson. the great Chicago Pacific
Coast Line, at S7S pays 81 per cent on
the investment.
Southern Pacific at $3.50 pays SOS per
cent on the investment. 1t was wanted
year ago at $50
There are any number of tempting
bargains scattered here and there
throughout the list that well repay in
vestigatiOn from the owners OF currency
IN safety vaults, stockings, and post
Office money orders.
United States Steel preferred, paying
Z per cent, is down to SIS making it
nearly an S-per center, and if there ever
was a capable, strong management
that company has IT, Moreover, the cor
pOration is standing under its stock.
Canadian Pacific, gilt-edged stock,
IS weak because of English unloading
but II IS Ike Lake CnUECs new L btA
Central, and Pennsylvania among rail-
roads.
Chicago and Northwestern is another
rare melon for pickers.
The Course Of Prices.
Monday the market was decidedly soft
and lower at the opening. but there was
a splendid rally that recovered all
losses. Evidently stocks were supported.
Tuesday was a holiday, and the Tennes-
see Coal and Iron deal was consum-
mated over night 20 the relief of the
situation, and a sharp rally Wednesday,
with a fair market Thursday and Fri
day and some slight recessions from
high, because of evident liquidation Of
stock held as collateral and the action
Of the foreign banks.
Saturday the market was extremely
duh and slightly lower. The bank
statement was bad. but the improve
ment will be shown next week. when
the gold finds its way into the state
ment.
The Changes.
The manner in which the market has
weathered the storm during the week
is evidenced by the following table
showing the close on the stocks named,
yesterday and on Saturday. November 2;
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
GETTING EVEN.

Mark Twain, at a publishers dinner in
New York, talked of his reporting days
in Virginia City.
I'VE were trying a horse thief one
day he said, and all OF a sudden the
big. burly scoundrel pulled OF his boot
and threw it at the judge II was a
heavy boot. too. It was studded with
ECbnails.
II am still rather proud OF the way
I wrote up that little incident. doing it
neatly. and at the same tine getting
back on a rival reporter whom / dis
liked. I got il all in one paragraph
SCHething like this;
90 Suddenly the blackgu9rdly thief, pull
ms of his boot. hurled L with all his
might straight al the judges head. This
desperate act might have been attended
with most disastrous consequences, but,
fortunately, the missile only struck a
reporter, so that no harm was done. "
From an Exchange.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
New York Bond Market

NEW YORK, Nov. Omitted States
Government bonds.
Is coup. 1880. 10SQl09it.
Is reg. 1855, i060lg9A.
SIS reg. 1898, 10301oI
IS small bonds, 1919 bid.
3's coup. 1913, 103a104
As reg. 1928. 120d123.
As coup. 1925. 12ed123-
Panama Canal rs. reg Jos bid.
Philippine As, 1854 bid.
Stock exchange bond transactions:
New York city Hk's. 1857. l05lz.
New York city, 452s. 1917. 1852.
Imperial japanese first series, ~ s
S9l4.
Imperial, japanese second series. as.
$50.
Imperial japanese IS, y.
American Tobacco SIS. S99L.
4. T. & S T. gen. As, S21z.
a. T. * s. F. cvt, as, s4%.
4. T. * S. F. cvt. SIS, 9Sjh-
Atlantic Coast Line as. IS.
r. & .. SIS. S..
+. & o.. gold. As, 92A
Canada Southern, second SIS. 20
Chesapeake and OHIO. AS, SSlA.
Delaware and Hudson, As, 50.
Erie, gen. IS, 90
Erie, cvt as, a. 81
Lake Shore. as, 1928. S55z
Louisville and Nashville. unified As,
93is.
Louisville and Nashville. col. IT. As. 50.
New York Central 81 s 81.
Norfolk and Western, con As, 80.
Northern Pacific. As 95is.
Northern Pacific. 3's, Goa
oregon Short Line, As. 1919.
Pennsy lvanjd, 35zs, 1912, S4..
Pennsylvania. 3z's, 1915, Sc
Reading As, S9l.
Tennessee Coal and Iron railroad SIS,
so
Union Pacific, first IS, 944-
Union Pacific, cvt. IS. S12t.
United States steel. S r. SIS, s1ih-
United States Steel, reg, S0L.
Wabash, As, 90.
Wabash z. 7. second IS, 155k.
NNestsrr Maryland first As. 65lR
TJtSl ales. S1.Sg7. 600, against 81, 752. G0J
yeste =. SI37S000 week ago and Sl364,
0gV ar ago.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
FINANCIAL GOSSIP

As an evidence Of the strong position
Of some Industrial companies Il is point
ed out that the American Telephone and
Telegraph Company has some 100000
cash on hand.
The New Haven directors have aban-
donod their plan tc issue S4S. 900, 0o0 stock
and $40,O0O,GOO 6 per cent bonds. Mighty
good thing.
The New York banks lost 100000 last
week to the interior.
Neither time money nor call rates.
Borrowers pay what they have to.
Premium on currency is declining.
Big gold imports this week should help
the situation.
New York Central, the old reliable.
viii likely finish the year with a surplus
of $1,5OO,OO0 to 100000 over dividend re-
qLirements. 1t ought to be a safe pur-
chase.
Deposits Of Tennessee Coal and Iron
shares in exchange for United States
Steel bonds aggregated 2l5.OO0 shares.
Gates heavy selling Of Steel bonds was
So Of the chief causes OF their decline.
It IS said that the Republic Iron ana
Steel Company owns half of the Ten
nessee Coal and Iron Company. It VIII
receive S15,0O0.0O) United Sta .gs Steel
bonds, When viii the United States
Steel Corporation take over the Repuh-
Icc
Rural America. It hath a pretty
sound-but it's worth $4,000, 600, 900. That
is prcttier in these times.
The Deutscher Bank OF Berlin has
also raised Us discount rate to the high
est figure in recent years.
There are stnl s5660O0O short as m
redeemed and the money draws no in
terest.
The Delaware and Hudson occupies q
lonely position among railroads. It's
gross and net earnings are increasing
enormously, the former 49, and the lat
ter 26-3 per cent
The General Electric Companv never
did anything like the business II has re-
Gently and yet it is preparing for re-
duction in the prices Of products. A
matter OF $60.o00O00 business last wear
and $55.G00cO5 for the nine months OF
this year. IS certainly going some.
Cotton is going off. all Of which means
big sales 70 exporters and Euch new
money
Hartman stocks viii Pay quarterly
dividends in the near future.
Steel preferred, recovered its dividend
in good shape.
Jadcy Field is credited with taking on
some Zoe shares of Union Pacific The
bargain hunters are busy
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
ROOSEVELT ASSAILED
BY RAILROAD PRESIDENT

MONTGOMERY. Ala. Nov. 9.-Before
the senate committee on common car
riers and commerce of the Alabama
Legislature this afternoon, Maj. J. +.
Hanson, president of the Central OF
Georgia. in speaking on the railroads
side of the present controversy between
the State and the transportation COM
panies, made a vigorous attack on the
President. Major Hanson charged Pres.
ident Roosevelt with being responsible
for the present financial crisis saying:
Roosevelt and such demagogues arc
responsible for these conditions by their
agitation against corporations. I voted
fer Roosevelt and contributed campaign
funds for MS support. but now 1 would
not vote for him for dog catcher
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
LONDON MARKET

LONDON, Nov. 9.-Consols were IN
changed. Anaconda was e lower at
9612; Canadians Pacific 1 point lower, at
1864. Grand Trunk remained unchanged
al IA.
Rates for money continues firm under
good demand in she market today: dis
counts were steady.
Trading on The stock exchange finished
the week Che7rIutiY. YcsteT days i'm
DrOvement was Well maintained the
prices Of homo rails and kaffsrs further
advanced on the bears capering, while
Paris support helped foreigners.
Only a moderate amount Of business
was transacted ia Americans. the fears
Of a poor New York bank statement re-
strs ming operators. Prices ruled around
patty. and the session closed quiet.
Canadian Pacific was weak, under some
enforced liquidation.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
FINANCE.

Sammy" said a Germantown mother
recently to her youngest-b0rn. when
you divide those seven pieces Of candy
with your brother, did you give him
four2T'
No ma am replied Sammy, Il knew
they wouldn't come out even so I ate
orc before / began to divide. From
Harpers Weekly,
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
COREY MUCH TOO FAT;
CAN'T REDUCE WEIGHT

NEW YORK. Nov. civilian Ellis
Corey is trying TO get rid of thirty-five
pounds OF flesh. An expert is giving
him electric treatment and massage, but
is not making much progress He was
not fat when ne pitched coal in his
youth. After he left the field OF manual
labor he still kept his weight down by
lots Of vigorous exercise. But since he
married Mabelle Gilman he has been
too busy motoring and attending thea
tiers with his wife TO keep IN training.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
New York Stocks

Quotations furnished by Post & Flagg.
members OF New York Stock Exchange. 1881
~ 81. nM.l
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
WASHINGTON STOCKS
DULL AND STEADY
DURING THE WEEK
No Disposition to Buy
Nor No Pressure to
Sell Situation Is
Good.

Every session OF the Washington
Stock Exchange has been attended with
extreme dullness. ana very limited huc-
tuations in values.
Existing conditions are sucn that the
continuance of this dullness is almost
certain Admittedly. Washington is
outside the panic zone. This IN itself
is a source Of eongratuIauon. and due
to the fact that the largest pay roll
made up in Washington to the largest
army OF employees f. made by an insti-
tuition that always has the cash-that
prints brand-new dollars every day in
toe year. holidays excepted.
II is further due 10 the additional fact
that Washington is scarcely a CONNER
cial town, in the sense of having large
manufacturing and jobbing houses to
demand large credit In word, IL is
not a credit city. II is d cash city.
cash every fifteen days.
The Washington Investments are not,
as a rule, sbaky. There are some min
ing stocks on the list tnat must always
be questionable properties for either
speculative purposes and not good in
estments. save on the part Of insiders,
Sbo know their capabilities
Again Washington bankers have the
confidence of the people and Of the
Treasury Department, and being next
TO the closest observers. are In a posi-
ton 10 knox what is coming and pre-
pare for IL before it's here
II is also fact that holders of securi-
ties DO not want to sell at present prices,
and, under the circumstances. buyers do
not feel inclined 10 tie up money an Sc
curities at higher prices.
Only some 1000 odd shares of stock
were sold at the five sessions Of the
exchange, Tuesday being a holiday,
SO, 500 bonds completed the transa cuons
In bonds
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
ORGANIZED JANY. 1914

ORGANIZED JANY. 1915
A cordial invitation
Is extended 70 you to
visit our New Bank
Building and Safe
Deposit vaults.
NATIONAL
METROPOLITAN
BAN5t.
18th Street,
opposite O. S.
Treasury.
Capital and Surplus. 1.50o.000@
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
lEW YORK-STOCKS BONDS AND MISREPRESENTATION
Washington Prices

Capital Traction, 4q1Z7sz.
Chesa peake and Potomac Telephone,
2460.
Mergenthaler. 3Q1s5. 5d195.
Mitchell Mining, l00GH, lO0@ X. l0OQ1z.
lllmM 1nlGsa
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
New Jersey Resorts.
ATLANTIC CITY.
GALEN HALL

HOTEL AND SANATORIUM
ATLANTIC CITY.
One OF the newest stcns. brick. and stesl
buildings. with every comfort always Spen;
RlWsys ready always busy.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
No Activity in Anything.

The former leader, Washington Gas,
was traded in TO the extent Of twenty
five shares at 20. II anyone expected
the Georgetown Gas decision would ad-
vance the stock they were mistaken. as
there is much doubt as 10 the prospect
of the Washington company securing
ike action Moreover the agitation has
suggested TO influential parties the ques-
tiOn of lower gas. 50 that the situation
is not 10 the liking OF bulls and not bad
enough for the bears. who know that
the stock is fleld too closely TO be fooled
with
This removes ar active leader from
the market
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
The Changes

There was 4 point decline in Chesa-
peak and Potomac Telephone, and also
in Washington Railway preferred. Merg-
enthaler broke. ~ points. the only
change Of importance. except d loss of
a little over points IN one bank stock
Bonds were steady at = decline for
Capital Traction 5s, and the same loss
ou washington Railway As.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
Some Promising Investments.

Erie, first preferred, considered a good
payer. viii net the investor 10 per cent
at present prices.
United States Steel common pays ,
per cent and is selling around 2l5s.
at which price It viii net the investor
81 per cent
AnAlgaaatsd Copper yields the IN
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
The Changes.

veathered the storm during the week
is evidenced by the following table
showing the close on the stocks named,
yesterday and on Saturday November 2;
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10

Hartman stocks VIII Pay quarterly
dividends in the near future
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
Range of Prices for Week.

Griffin, Halstead & Co. furnish the
following range of prices, week ending
November g 1907:
Bonds Oreu. High. Low last
$3.50 Cap. Trac. Ssh III 1l05a 11Gl5
81 600 Col. r. r. 6s..105 los Jos los
s. coo Wash. Rwy as. Is IS ~ az
stocks. open. High. Low. Last.
Il Wash. Ry pf...--... 67lz 671z G. 81
- G. & p. Tel.....-... 90 90 59jz 55lR
"a Wash. Gas ........ 20 20 20 20
l3S Mergenthaler ..-.196iA 1861 1888 I95
30 Lanston -.--..-.... g% 80 ga sst
300 Cananea ....-..... 6
200 Mitchell ........... y 81 Il s.
800 Peoples Fire ms. s 8
81 Metropolitan Bank go 90 2S5 25
10 Nat Saw. & Trust.1S0 $50 $50 $50
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10

Cotton is going off. all Of which mean.
big sales 10 exporters. and much new
money.
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10
Stringency Not Over.
Must Be sIow and Cautious.

The recovery must perfOrcC be slow
and the operations Of traders made with
great caution. That the worst is over
IS encoura cement. That the recovery
viii come is certain. The sharp up
turns that viii follow investment buy
ms will probably be followed by slight
declines as collateral is unloaded.
The dividends offered at the market
1,rice of stocks today are certainly
tempting TO the man with money 10 buy.
lock away and forget-and within a year
or two. the harvest viii be rich and
safisfacfOrv
The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1907-11-10

Steel preferred, recovered its dividend
in good shape.
The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1907-05-06
BREWERS FIGHTING BACK
Receivers Appointed by Kansas Su-
preme Court Blocked in
Many WAYS,

Kansas City. Mo. May 5.-What is
believed TO be one of the last stages of
Kansas twenty-year fight against the
liquor traffic. namely, the seizure of
brewery property by the three receiv-
ers recently appointed by the state su-
preTne court, is developing legal compile
cations. After weeks work and visits
to five cities in the state, the receiy-
ers have taken possession of several
hundred saloons and some other prop
erty known 10 be owned by some of the
nine indicted brewing companies. There
has been much evasion on the part of
brewery agents, according to the re-
ceivers. the title TO some of their prop
erty being hurriedly transferred, and
this the receivers have not moiested
desiring first to gain a ruling on their
status from the states legal depart
ment.
Yesterday at Pittsburg the receivers
encountered a new proposition when
they visited Idle Hour park a beer
garden operated supposedly by the
Helm Brewing company. The receivers
intended to take charge of this prop
erty. with the avowed purpose of sell
ing it and turning the proceeds into the
state treasury, but the agent in Charge
insisted that the brewing company
owned the fixtures only. and that the
grounds and buildings belonged to him.
The receivers decided to make no move
there at present. and went to Topeka
for legal advice Ii is said that the
sale of the valuable property already
seized will soon be begun, but the
brewers say that If this is attempted
they will go TO the courts.