davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1908-01-02
TRI-sT COMPANIES AS BANKS.

The trust company in its original conception was
an institution organized TO act IN Inherent trust
caDacites not contemplated that IA trust
coInDany should q Il commercial business, yet
find that a lack of proper definition of the
functions of the trust company ana owing, per-
hans To improper competition IL has made large
encroa chments upon the Legitimate business of the
hank of discount Commercial deposits re-
ceiyed and discounts made by some institutions OF
this character the pTinclpa parts or thelr busl
ness Though the law may permit, and 10 force
;; discontinuance Of the practice be lnlpractlcable
euch business should be protected with adequate
reserves distinction, however. in reserve require
,neuts should be made between trust company
which has adhered the business within its orgI-
nal scope and the institution which Is doing the
business of a bank of discount An injustice would
he done were we 10 deal with all financial inStitu-
tions in accordance with the names under hleh
,bcv onarate rather than with reference to the
character of business in which they are actually
engaged In short. If the commercial hank or
trrst company is actually doing savings bank
business whatever it may be called, its deposits OF
New-York tribune., 1908-01-02

The delay and expense of receiverships Of
moneyed corporations has been and is the
subject of public discussion, much to the discredt
of the present system The commission appointed
by the Governor to consider questions relating
state banking institutions has compared the eX-
pense of recevershps of state and federal bank
ing institutions. and has given of the ad-
visibility of making the Superintendent of Banks
New-York tribune., 1908-01-02
AUCTION SALES

BY VIRTUE. Of an execution. /. Bernstein
auctioneer will sell to-day. at 81 Nadi-
son 81 Manhattan. the fun reGaiia OF the
Sorietv Of Don Giovanni Bosco. By order
~ Alfred Freeman. Marshal
py VIRTUE Of an execution. l. Bernstein.
Auctfoneer will sell to-day. a. m. at
"a Madison St Manhattan. lot cf ladies'
silks by order of Alfred Freeman, Mar
New-York tribune., 1908-01-02
REVIEW OF RECENT EVENTS.

-. ,o the r,lan already outlined. shali
t%e cIoze Of the fiscal year that the
mav have such Information ItsiIlteo Itsti s,nonp our
md Effects OF the recent disturnaheF a'i,oi Irooer
bartira institutions is essential loi d ,ain pR
IITG@rsJandins Of the proposed lesiSiS'
ailei 80 Ieta il is proper briefly 10 record ts
general conditions responsive Io aI,eos lea ding
o. % "a yeyiew certain technical causes iealiIo
20 the embarrassment OF our .,+trv has ex-
;cS FGL On unusual expansion OF credits colGl- i
dert with and resulting directly t rIo f loving the
ec---a~,- from the effects OF the dlSIul ~
$50 The measure OF this expansion naS pe ~ a.
-sc;15 when il is known that the volume OF OIL M ne
deposit liabilities Of all ilie '4hN anroIler of the
fhe H;ceased from Sleoeo ooo in 1sg! to s3-
lea0Oagee in lS or very n+itTly '' Iices and par
-,4A,,s,i,- in those Of securities, ensned Inc eA-
Issl@"m ION 81 increase in cash resources
for from the report Tetere9q 10 isti+ions Of the
countrv decreased only from S62s Gooo9 to Se'Us s
%, or about 20 per cent; iess ian ii''i 'i'
centaga Of the increase IN IanihueS'
>,oT PECULIAR TO UNITED STATES.
This condition was not peculiar to the United
S,afes nm was worldwide. and followed a pstlod
a. which enormous destruction of property had oc-
rnrred - The Boer war. the Russo-Japdhese war
and the demolition OF property oy eai - -
the West indies. chill and California Were mos mos
Serious drain upon the resources ot me MoIIu, 1t
coming they did at q time "i,eh @ IN ~ -
business of universal progress "ds HAh''is i
TIC climax in the volume Of business. as well as
in price OF coH1inodlts Wa ae@i,u st 81 ~ rsa,
The spring Of 1857, and conservative Juh3;i@iltll @
.i,e-,aiiz tbos. Of Kew York City. hal naturally
,,rtiiratod in the remarkable growth Of business
1Iev U,ere quick to realize the Impending Ieacuoh,
- a general appreciation of the necessity Tor
gre,-er conservatism largely due 10 their Ie-
straininS influence. -i,... ,,,a,,,4,,,. a.,
Projected enterprises were neeesstIIis Ill F ]
- 49, halted ONLY the most immediate, press
i,e- eess Of railway. industrial and other corpoIh-
lions Nefe provi5ed fer and these were covered by
Temporary or short term loans az rates WHICH "ete
,,rnfserIU -egarded Is unusually high -.
'c-.,7f >-eu5 work for example found il
,ecaesarv to issue 6 per cent obligations 10 pro
,,,d f.1rde for current needs. and. indeed became
a torraa-e, 10 the extent Of seventy millions OF
Soliare in 7lse height Of the crop moving season ,
oe-iod of eharI iiduidat tion in securities ana
The rtrrrafig7ert credit followed ~hlcn soon eh-
renSe6 "a and affected ali branches OF business
Tho ,1-nos1Ire OF questionable methods Of man
speroenf IN some CORPORATIONS. coUpled WIN the u
d;se~t-nI-ate and general denunciation that fol-
kBed seriously impaired corporate credit Dis-
New-York tribune., 1908-01-02

ALI qualities majority
with past
New-York tribune., 1908-01-02
Warm Underwear
fer
Women and Ch,ldrsn


Assortments that cover every rea.
sonable need at those sure-to-ba-
right prices that you can always
count upon here.
women's Nat Wool Vests and Pants. 50
Finer % sf.39
Wo.nen's Ribbed Merinc Vests and
Pants-half wooI-White and
NaturaI-Iong and short sleeves. 70
Finer 10 81 50
WOmen-s Egyptian Yam RIB Vests
and Pants-f;eece Iined-ali sizes
also extra sizes ------------- % 70 .A9
women.s Fleece Lined Union Suits-long
sleeves-ankle length -.---. 49 TO 80
women's medium, weight Cotton Union
Suits-high neck-ankle length .SS
Women's medium weight Wool Union
Suits-high neck-Iong or short
sleeves. .........--. 4 40 10 .. 10
women's heavy Wool Union suits
slight cotton mixture 40 TO I .9S
wonen's White Meriro Vests
and Pants --..--.--......-..,-. ~
Finer TO sl.39.
wornen's scarle, 3iedicated Vests
and Pants -----...---..---- -------.-.. .OS
Worneu.s swiss Ribbed Wool and silk
Vests-white-hish neck
snort and long sleeves. .9S TO 2. %
wonen'S all wool Abdominal Bands
White and Natural coIors.. 40 TO ID
C-hidren's White Australian Wool shirts
Pants and Dravers-IS-inch. .--.-..- 90
Rise. ) cents per size TO St-inch.
Chudren-s Natural Wool shirts. Pants
and Drawers-1s-inch .-....-..--.- .4O
Rise 10 cents per size to St-inch
c,bud-en-s White MerinO shirts. Pants
and Drawers iS-inch. ...---..-.--.- 80
Rise > cents per size TO S4-ineh-
t-ntldrrn.s White Mertno Shirts. Pants
and ana Drawers inch ....-...--...- 10
Rise cents per size TO Sf-ineh-
Fleece Rib Cotton Vests and Pants "a
O1l'onS' Iloicn suits ..-.-..........,.-,..- .9S
1,,,nts White All Wool wrappers. 40
Larger-Iise 10 cents per Si-es
New-York tribune., 1908-01-02

These institutions. including their branches. had
th1rty-one banking offices. Their combined capital
amounted TO S4,000.t00 and their book surplus to
about S9,00900o. Their deposits aggregated s92
|
New-York tribune., 1908-01-02
BusINEss CHANCES.

s5 coo CAPITAL wANTED.-Money amply
secured high class mannfacturins nusl
rsss nov in operation location. New ork
Citv: capitalized at So 600. Will give oonus
in stock to investor; big demand iur soons.
highest references, strtctest inNesusatioh
allowed Particulars. McDonald-Wissins
Co.. Isl Broadway.
New-York tribune., 1908-01-02

trust induced withdrawal of funds from banking
institutions and boarding became quite general
The rigid. infiexible and inadequate currency
system which the laws impose rendered 1t impoS-
sible for the banks supply the currency demand
and general resort throughout the country 10
currency substitutes ensued.
THIRD WEEK OF OCTOBER.
The condition of affairs was ripe for the precipi-
tatlon of the crisis which resulted from the
operations of individuals identified with certain ma
tional banks. The withdrawal of funds from these
institutions induced Withdrawals from others.
The third week in October notably time of
increasing dstrust. excitement and apprehension.
with the result that the of financial in
Stltutions Were strained-n cases to the
breaking point
During the fourth week in October the following
banks and trust companies. under the supervision
OF this department, closed their doors:
Date of No of
New-York tribune., 1908-01-02
sI-PERfNTENDENT'S AUTHORITY.

Among the causes contributing 10 the suspension
of the closed institutions was lack o! SUPERVISORY
power in the Superintendent OF Banks IN some
eases the deuartment has called attention 10 pfac-
tices which were considered 10 be unsafe bit
without avail believe that II the euI.eilh
OF Banks had had the authority to enforce dis
New-York tribune., 1908-01-02
PONY SKIN COATS
CARACUL COATS
CANADA EARTEE COATS

Semi-ftted. medium length-brOcaded
satin lin;ng-shawl collar and cuffs
were s175-Oo .-.-.-.---..--..---9S .OC
New-York tribune., 1908-05-24

tions have frequently got the benefit of his shrewd
guesses.
This movement still going on has become tre-
mendous considering that 1t is only twenty years
from, the very beginning of the trolley system ana
hardly fifteen years since the principles of scentihc
equipment of electric systems in growing cities
were developed. Hundreds of millions of the saw
ings thrifty Eastern people have been expended
on transportation systems of the United States
Canada and the island dependencies. The glaciers
of Mount Rainier have been harnessed the re
usefulness II not long since that an official
trained in the Boston Elevated Railway Company
was called to Manila install a thoroughly mod
streetcar system in the Philippine capital Al
though the electric service Is only twenty
years old American enterprise has had 1t running
for about third of that time in Amer1canized
Porto Rico The business depression of the past
ther trolley building. particularly in communities
which have not already been provided with the
facilities.
In intensive raToading, with better co-oPefa'ioi'
of railroads and trolley systems. is believed 10 lie
the future of electric transportation in the DIG
centres of population Experiments In the way Oh
electri6cation on the New Haven and otner ran
road systems are in that direction. The next ten
wears of the trolley will probably also see a coz
tinustion of the present policy of financial eaoeis
snd engineering experts in developing the trans
o-+a.ion facilities of smaller but progressive coli-
nnunites
New-York tribune., 1908-05-24
TROLLEY'S GROWTH
In TWENTY YEARS
THE FIRST "BROOMSTTCK
CAR" IN RICHMOND.
Eastern Capital Great Factor IN De-
ueIopment at Home, in Canada
and Dependencies.

Boston. May B-Twenty years ago TINS spring
d Boston street railway manager went TO Rich-
rnond Va. to inspect the newly opened uohev
lire There he twenty-five motornen, one
ee.a- another start their cars from the car barn
and 20 buzzing uphill and down through the city
streets The spectacle something new in street
rsilroadins.
The Richmond line, the first practical appEca-
ton on any scale Of the principle Of the Overhead
trolley had been in operation since February II.
1855 OF its success there no question. The
Bostonian went home to take immediate steps for
the esra bis hment of a trolley system on one OF
the lines leading outward from the Hub. Boston
was thus the first large city of the United States
70 begin electrify its streetcar services Since
then in the brief space of two decades, there have
been built in this country alone trolley roads which
carry more than five billion passengers annually.
II one person had TO 90 all the trolley tripping
for all his fellow Americans he would travel in
straight line more than fifty thousand times around
the earth. In order finish his task in a single
New-York tribune., 1908-05-24
HOW LONG DO sANkNoTes Iveg

What is the life OF a Bank OF England note >
According to official Of the bank, the average
life period that note out was. for Is
note, siXty-tw days; fl0 note. ffty-eight DAYS;
f20 TO fI00 note. thirty days; goo to $500 note
eleven days. 900 note. fifty-fve days.
y little consideration will be sufficient to ron-
vince any that the authorities of the bank
must reap a very handsome year by year
from their note issue. Think however what
thousands of notes are des'royed-say by fire or
ehtpwTeck-and consequently never presented
for payment 4 gentleman who has recently re-
tired from an important post in the city has in
his possession genuine fl Bank of England note
bearing date February g. 1858 Had this money
been invested on the usual deposit rates the bank
would have credited some ones account since
thsn with an amount well over t2.0cc-Tit- Bits
New-York tribune., 1908-05-24
EASTERN CAPITAL USED.

The time came early when not only the largest
cities and their suburbs seen 10 offer field
for electrical equipment but places Of from twenty
hundred thousand well Capital from
the Eastern money markets the lookout
investment IN traction enterprises in promising
cities Of the West and South with astonishing
rapidity the slowo moving 'ha burners" the
mule cars called in Southern places were
retired in favor modern electric conveyances.
Such cities as Savannah. Columbus. Dallas. Hous-
ton, Tampa. Birmingham. Knoxville. Jacksonville,
Key West. Fl Paso and many more got modern
transportation usually bv cooperation Of local
and Eastern capital. The New Englander is tra-
cIrionally q close student Of the growth Of the
country wherever II has seemed - him that 4 n
important city Is in process Of upbuildng there he
49, Invested his savings Investors in other sec
New-York tribune., 1908-05-24

year ne would have - go day and night at rate
Of about one hundred and fifty thousand miles an
hour-say two thousand times fast as the hu-
man voice is carried through the air. At the
present rate Of growth of the industry he would
be obliged a few years hence TO exceed the velocity
with which the light leaps from to planet
All this in twenty years. The modern world
moves fast. Men were students Harvard Uni
versity little less than two decades ago, when
the plush seated vehicles remodelled from horse
cars and provided with motors and controllers
began TO zip TO the accompaniment of sparks from
the overhead wire along Main street into Bowdoin
Square Boston. That and other the
only electric lines in the country besides the at
Richmond. To-day the student in any Of the New
England universities can travel by trolley far into
the Middle West 10 considerable distance
southward or northward along the coast.
New-York tribune., 1908-05-24

fronting on St. James's Park, but these nave
been invaded already by department clerks ana
the core of the most interesting one mas peeh
followed out This is the residence Of the IN
famous Judge Jeffreys. whose wanton severity
to prisoners In Monmouths rebellion Ills one Vi
the blackest chapters Of Stuart history. Inc
wings of the house still remain but there Is
yawnins gap In the block where was once the
stately hall. Yet on the park side there is a
memorial of the evil minded. ambitious Juose
This is a flight of marble steps, beginning no
where and leading TO nothing. he oo'aiheu
from the court special permission TO nave an
entrance toward St James's and the marpie
flight still stands. although doorway, nan ana
the central section of the ancient residence nave
disappeared Delahaye street. with It's me"ories
of Jeffreys. can be spared as easily de Nie
street was sacrificed for the mns'efiai oiiioe'
ten years ago. although LORD Howard Vi Hiiine
ham. Queen Elizabeths great admiral once
lived there and Spenser died there, Impoverished
and neglected, after writing Inc 'aeiy
Queene'
Finishing touches storied London mas receiNeo
from, are TO age since the fragment of Roman
wall behind St Giles's was cemented ana the
Norman keep and the old hall of William Rufus
,rere huiIt long way apart the Thames.
Yet one transition has succeeded another ana
although Roman archways. Greek temples,
Gothic arcades medieval guildhalls and TIM
bered houses, Georgian stucco terraces. Renals-
sance palaces and Queen Anne flats have come
and gone there is ever a strange jumble OF con-
trasts in architecture. the new is always jostlng
against the old and the metropolis is never nm
ished The Strand a professional road
lined with palaces when Plantagenets were on the
throne and now there is grander roadway for
two miles from Trafalgar Square to the marble
arch awaiting Renaissance archway, the Vic
toria memorial and a winged Peace on Constl-
tuition Hill; but who will say that there Will not
be a more imperial circuit in another reign? 1t
is the most changefuI of capitals. with cease
less masquerade OF styles and vagarfes. and the
black smudge is on every roof line easement and
turret and the gray sky arches over haunting
novelties and time-worn relics. l. n +.
New-York tribune., 1908-05-24
A CHANGEFUL CAPITAL
Ne5u Roadscays and Buildings Seen
in London.

London, May g.
The imperial capital with its medley OF archl-
tectural styles and all-pervadng smudge, is re-
ceiving at least one finishing touch 1t Is the
completion of the marble arch Improvement this
month at the end of a professional road about
two miles in length. Work at the other end,
where Sir Aston Wehb's archway will mark the
entrance TO the Mall from Trafalgar Square, pro-
ceeds sluggishly. and it may be two years be-
New-York tribune., 1908-05-24
UMBRELLAS.
FL RNITJ RE.
TPHOI sTERY

80,
FL RNTTJ RE upholstered. dr9perles' 49,
covers. wall coverings. estimates -
nished & Irvine. 500 West 45th 81
7;iS Bryant
NJ 4. POI.ATSCHEK. Decorations Cao..s,-
Work. Furniture. Upholstery CITY, y,,SS.s
try 81 West SSth 50 Tel. +aiS--o--..---s
New-York tribune., 1908-05-24

The PROGRESS OF TWENTY YEARS.
The oldtir1e horsecar, a relic of the darL
ages, is falling into decay in the back lots
New-York tribune., 1908-05-24

HALFrONE md line work; catalogues -.
color work. excellent results. low ptN-
Ragopi4n COMPANY, 80 East 10Th 81
New-York tribune., 1908-05-24
PHOTO ENGRAVING.

ELECTROTNPINCi. all description. aaSSsy
tisins electros in quantities eNsep-tona-S
low rates Empire City Electrotyoe N'''
2Sl William 81
New-York tribune., 1908-05-24
PLATING.

S.LVERwARE. stationery. chandeIeIs
brass work made new. half prise CS1
trail Mfg Co. III East s7th ST
New-York tribune., 1908-05-24
PUBLIC ACCOUNTANTS

CAPEI, z lie JEUNE. g. 2 A (aH
IsSS) 81 Beaver st-Special cXa;ninS
nations, periodical audits. reorSa1l5t-
tions: systematic arrangements ETC.
Telephone. 6946 Broad
New-York tribune., 1908-05-24

AMERICAN STORAGE CO. s04 SOS v.a
4Sth Showing vans. boxing packi1x
shipping. Tel. 2667-Bryant.
New-York tribune., 1908-05-24
STORAGE

uAEGER STORAGE WAREHOUSE co.
sth ave 33d 70 34th sts- Storage for furni-
,ure. padded vans for moving. 5cxaz
packing and shipping estimates furnished
Phone 321O-3sth-
New-York tribune., 1908-05-24

JOHN c. AI.MOUR. Public Accountant ara
Auditor. 257 BroadWa ay--Books VTi1Isa
up and closed. prcht and loss Statements
and balance sheets prepared. perioclcs'
sudits Tel s1TO-Cortlandt.
The San Francisco call., 1908-03-10
Will Hang Up Two
Rich Purses
Additional STAKES Each of Tho
Thousand Dollars added
at Emerypille Track

The important announcement was
made at Emeryville yesterday that the
New California jockey club will hang
up two additional stakes. each OF $4,000
added. to be contested for during April.
when the regular stake list. made up
at the beginning of the season. will
stakes will be for horses years old
and upward, and will be named In
honor of two leading social Organiza-
tions of San Francisco The first. to
be known as the Family club handicap.
will be at a mile and an eighth and
will be decided Saturday. April T. The
other will be run the following Satur-
day, will be at a mile and a quarter
and will be called the Olympic club
handicap. Each OF the clubs whose
names the stakes bear will contribute
cup valued at not less than $500 to
the winner.
Entries for both events will closs
March 21 and blanks will be ready for
distribution in a day or two.
1t is expected that these stakes will
attrack the pick OF the handicap horses
in training here and at Arcadia. and
that they will awaken renewed inter-
est in the sport at a time when il
usually begins to taper off, besides
tending TO keep the better class OF
horses on the coast TO the end OF the
season.
The list OF stakes still TO be decided
at Emeryville follow:
The San Francisco call., 1908-03-10
SMILEY CORBETT-BROOKLE
Gossip of the Race Track

Nose Goldblatt has decided to re-
turn east within a few days, as he
has some 2 year olds at Louisville
that demand his attention. He has
Fdisposed of all the horses that he
brought to the coast from New Or
leans in January with the exception OF
Keep Moving, Mortiboy and Alsatian
He will ship Keep Moving direct to
New York and IL Mortiboy and Alsa-
tian are not meanwhile disposed OF
they will go east with her. Goldblatt
is well satisfied with the showing that
he has been able to make here this
winter under adverse conditions and
will return next fall with a strong
stable of from 40 to so horses.
Jack Keene had been planning to
start for Russia about the middle of
this month. but the indisposition with
which his brother, G. H. Keene, has
been suffering has necessitated a re-
arrangement of his plans and he will
not think of going abroad until his
brother has fully recovered his health.
1t may be that he will abandon his
proposed trip altogether. Bravoure,
one of the Keene fillies, was sent to
Brentwood yesterday to be turned out
for the summer, and Mansard, Clamor
and Roulon will be shipped to the
same place WITHIN lew days, AS
soon as G. H. Keene is in condition to
attend to their training several of
the Keene year olds that were turned
out at Brentwood several months ago
will be taken up and prepped for a
summer campaign at Seattle.
Barney Schreiber returned yesterday
from flying trip TO his ranch a,
Woodland, Yolo county. where he has
40 horses turned out. Some of them
are not far from being ready to race
and several will be brought here in the
near future to reinforce the stable that
Trainer Powers will handle for Schrei-
ber here during the balance of the
meeting.
William Cahill will undertake the
experiment of sending his fast sprinter
Smiley Corbett a mile in the last race
today. The colt has never gone fur
ther than six furlongs, but good judges
believe that he will be able TO go the
route and develop into a useful per-
former over a distance of ground as
well as in sprints.
Fulletta, Miss Rillie. Red Leaf and
Big Bow, four of the prospective
starters in the Monterey stake tomor
The San Francisco call., 1908-03-10

row. were worked for the race yes
terday.
Jockey Knapp returned yesterday
from Arcadia. whittier he went to ride
Early Tide in the derby. He will ride
Benvolio in the Thornton.
Handicapper Nathanson expects a
field of about 10 starters in the Thorn
ton stake next Saturday. This famous
long distance event has never before
attracted more than six starters.
Jockey Herman Radtke was an ar
rival at Emeryville yesterday from Ar
cadia. Radtke is on his way east to
ride for General Lazareff the coming
summer.
Reservation came out of his last race
with bowed tendon and Fl. G. Bed
we'll fears that he will never race
again.
Dorado seemingly suffered no i'll eff
fects from the sensational race which
he ran Saturday and is carded to per-
form again today.
Outsiders have won as frequently as
have the favorites since the Emery
Vile season opened. the percentage OF
winners in each of these classes fgur-
ing 40. Second choices have won ex-
actly 20 per cent
Jim Neil has taken first call on tho
services of Jockey Borel, whose con-
tract he held last season. Borel will
continue to make his own engagements
Johnny Crane is pulling for rain be-
tween now and Saturday, as he believes
Byronerdale will take lot of beating
in the Thornton If the going should be
anything but fast. Byronerdale is in
the pink of condition. Crane did not
think we'll of John H. Sheehan's
chances yesterday and let the horse
run unbacked.
Phocian Howard was a visitor at
Emeryville yesterday. He is en- route
to New York from Arcadia
W. B. Jennings has announced that
he will leave Los Angeles for New York
March %. and expects to take only one
horse east with him. Rosegal, which
ne intends to start in the Carter handi-
cap. is the only one in his stable
which is not for sale. He has refused
an offer of $4,000 for the filiy.