davidaulloa/AmericanStories huggingface dataset:
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
CONTRAST IN
BANK METHODS
European Banks Use Accept.
ances While American Banks
Use Promissory Notes

Washington, Sept. 13.-In an article
just issued by the national monetary
commission, entitled "bank accept
ances." the author, Lawrence Merton
Jacobs, maintains that European
banks have very great advantage
over American in their power to ac-
cept time bills Of exchange and states
in substance an follows: This power
the courts in their Interpretation of
the national-bank act have denied to
our national banks. The denial Of
this privilege has had far-reaching ef-
fects.
In European countries credit is Oft
on obtained by drawing bill of ex-
change on bank, this bill being ac-
cepted by the bank on behalf of the
customer in accordance with arrange
ments previously made. These bills,
known as bankers bills, insure the
payment of the obligation by the
bank at maturity. The banker who
grants such accommodation to a Gus
toner may secure himself in various
ways, though ordinarily he accepts
the customers draft merely upon his
general responsibility.
In the United States the prohibition
Of bank acceptances has led to the
creation Of vast amount Of promis-
sorry notes instead Of time bills Of ex-
change as in European markets. "The
difference between these two classes
OF instruments accounts to q great
extent for the difference between
European and American banking. In
the case Of time bills Of exchange
drawn on and accepted by prime
banks and bankers there is practical
uniformity of security. In the case
Of our promissory notes or CONNER
cial paper there Is no such uniformi-
ty. the strength of the paper depend
ing on the standing of miscellaneous
mercantile and industrial concerns" {"
To this uiformity Of security are
due the great public discount markets
Of London, Paris and Berlin; to the
lack Of uniformity in American Sc
clrity 10 attributed the absence of q
market In New York. In European
centers the discount rate is the rate
which demands the attention Of the
financial community; In New York It
ts the call-loan rate. The European
discount rate has very direct rela-
ton to trade conditions: the New
York call-loan rate registers in its
day-to-day fluctuations mainly the de-
mand for stocks. The stability Of the
former Is in great contrast to the vio-
lent fluctuations Of the latter. The
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
LEPER ARRESTED
Believed to BE Greek Who Broke Salt
Lake CITY Qaarantipe

New YORK, Sept. IA man believ-
ed to be John Kekas. the Greek leper
of Salt Lake City, who broke uuaran-
tine there, evaded interception in Chi
cago and escaped eastward, was ar
rested here today as he was about to
buy ticket for, Greece. He was TAX
en- to q city hospital to be held for
examination by DR.. l.. N. Bulkley, the
specialist in skin diseases. The mans
appearance was hideous.
Il know I'm not a leper," said the
man, "but I don't know what is the
matter with me and none of the doc
tors have asked in the year and a
half have worked in the west have
been able to tell me-
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
NAGEL POSSIBLE

May Be Manned as Successor Of the
Late solicitor Bowers
Washington, Sept ls-The name of
Secretary Charles Nagel Of the de-
partment Of commerce. and labor has
replaced that Of the late Solicitor Cen
eral Lloyd w. Bowers in the gossip
Of Washington regarding the expected
appointments to the present and pros
pective vacancies in the supreme court
Of the United States. It has been
almost taken for. granted that MIR.
Bowers would be appointed to one of
them. In the absence from Washing
ton of both President Taft and Sec
retady Nagel. the subject must re-
main one of gossip. =.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
Rooseyelt Silent

New York, Sept. 13-Theodore
Roosevelt, up bright and early today
from Oyster Bay to pay his first visit
to his editorial Offices since his re-
turn fro mhis western trip. was no
more inclined than last night to COM
ment for publication on the result
of the Maine election.
Asked to express his opinion on
the subject, the colonel said, moth
ing to say"
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13

al manager of Armour and company;
Thomas j. Corners, superintendent Of
Armour and company: Edward Nor
ris. president of Morris and company,
and Louis H. Heyman, manager of
Morris and company.
The first indictment in detail
charges all defendants with engag-
ing in combination in restraint of
ietnrstate trade in fresh meats.
The third charges the defendants
with monopolizing the trade in fresh
meats by unlawful means.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
TOO MANY LUXURIES
Texas Has Half as Much Auto mobile
as Bank Capital

Washington, Sept. 13-Statements
that western banks were loaning mon
ey too freely for luxuries, particular
ly automobiles, has led to the gather
ing of some statistics in Texas. The
bankers there estimate the value of
all automobiles in the state at $45 ,000,- :
600, which is more than half the COM
bined capital Of all the state banks.
They also estimate the annual de-
probation for which there is no
remedy, at $15,000.000 or four times
the annual fire losses OF the state.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
New Jersey Fight.

Trenton. N. j.. Sept. 13.-Fair
weather prevails at the primary cleo
tons to be held today throughout New
Jersey by all parties. The greatest
interest centers in the contests for
Endorsement by the people of the can
didates for United States senator.
Besides the senatorial endorsement
the people will elect delegates to the
state conventions which nominate
candidates for governor, and deIs-
gates to the various congressional
conventions, and will nominate can
didates for the legislature. and the
various municipal Offices.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
CUT OUT LIVER

Ell Paso. Tex. Sept. 13-The body
of Leung Mon Don. q Chinaman, was
found in an alley today with his liver
cut out. There has been trouble here
for some time between the various
tongs among the Chinese. but this is
the first murder. The dead man was
. leader in the On Loung tong.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
THE AWARD IS
.|RREvOCABLE
The Newfoundland Fisheries
Question Is Settled! For
All Time

The Hague, Sept. 1s,-The award Of
the international court of arbitration
in the Newfoundland fisheries case
became irrevocable today, with the
expiration Of the five days allowed for
aan appeal without either the United
States or Great Britain having enter
ed protest against the findings.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
TWO DIPLOMATS
CHANGE PLACES
Ill
Legation at Panama Will Be
Under Direction of Former
Toxic Secretary

Washington. Sept. 13.-For reasons
which are not divulged the state de-
partment has decided to make a
change In the American legation at
Panama, and R. o. Marsh has been
relieved of the duties of secretary of
the legation and ordered to report at
the state department for duty there
in. Charles Campbell, Jr., of Mis-
souri,, at present third secretary Of the
American embassy at Toxic. will re-
place Marsh as secretary of the lega-
ton at Panama.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
CHANGED HIS MIND
Abruxzi Does Not Want to Marry Miss
ElkinS

Rome, Sept. 13-The Tribuna refer
ring today to the selni-ofiicial denial
that the marriage of the duke of the
Abruzzi and Miss katherine Elkins
had been arranged, declares without
fear of contradiction" that the king
gave full consent to the marriage but
that the duke of the Abruzzi himself
broke off the match for personal rea-
sons.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
OREGON LANDS
Large Area Opened For Settlement
by the Government

Washington. Sept. 13-Oregon lands
aggregating 1,S73.2S0 acres were
thrown open to settlement today un-
der the provisions OF the enlared
homestead lands by authority of Act
ing Secretary Pierce of the interior
department. This brings the total of
lands in Oregon which have been re-
stored to date. u pto 11.04O.240 acres.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13

acquired q string Of national banks
and insured all of the employees. By
that system the earnings Of the banks
went to the life insurance company to
pay premiums on the policies.
The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1910-09-13
NOVEL SCHEME

Lie insurance Company Has New
Method of Getting Business
Washington, Sept. 13-That q ma
tional bank may not insure the life
OF its president or any of its officers,
has been decided by the comptroller
Of the currency. A request from a
bank for permission to do so has
brought out that ruling. The decision
is based upon case which oficials
discovered In tine northwest some
time ago. A life insurance company
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14
CONGRESSIONAL.

In the Senate yesterday Mr.. Cum.
minis discussed his amendment TO the
rules providing Tor the consideration Of
tariff legislation by schedules. The de-
bate was participated in by Senators
Aldricb, Lodge, Beveridge and Bacon,
but no action vas taken. Senator Bev-
eridge's tariff commission bill was re.
isrred to q subcommittee. 4 long list
OF recess nominations was confirmed.
In the House the pension appropria-
ton bill, carrying sl5S, 6l5, 200 was
passed. Only one pension agency is to
rensin-the one in this city. Several
district bills passed by the Senate last
session we're passed.
Legislation creating u permanent
tariff commission seems probable as q
result OF the hearings by the ways and
means committee OF the House.
The transportation OF sdulterated
and misbranded seeds and bulbs is for
hidden by bill introduced in the
House by Representative James r.
Mann, Of Illinois.
The military affairs committee made
a report to the House urging amend
ments to the law requiring the marx
ing OF the graves Of Confederate sailors
apd aeldisrs who died in Northern
prisons and we're buried nearby.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

Alexandria Gazette, aud out of the city
IN financial stock paper of large circli-
latlon, the proposed sale ofthe $4,000 of
bonds. There was only one bid. tho
figures being 95.26 Offers to loan the city
SiO0,p)0 on notes, the bonds 10 be held ~
collateral we're made bytwO ofour banks
The proposition OF ono bank being IS
follows:
First: 100000 would be loaned lor six
months IT per cent. Second: $iG0C0j at
! II per cent. for six months allowing
Inc city 10 pay any part ofthe notes DUE
ing the period. Third; 100000 six
months At 4 Il per cent. with the priNi-
lege of renewal for another six months
At 5 per cent.
These three propositions being coupled!
with conditions that were not under
authority OF your committee. could not
at that time be considered, even had
they been the best offered, and they
were not.
The proposition OF another bank was
Us follows: To loan 100000 1t ; - per
cont for four months, with the privi-
lese to renew the mote for next sour
months, aud If 1t WAS necessary for the
city 10 have more than 100000 il ccu!d
be arranged. The city undert this agree
mcut was allowed the privileges when
selling boud to Use the proceeds upon
payment on account Of notes. aud save
interest This last proposition was Of
course accepted, and it can be seen 1t Il
glance there was saving of - cent, -
the bonds bear 1. Let Us emphasize the
fact, that after much advertising the
= 90 OF bonds wHe at
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

N many country districts in Han
gary superstition is still rife. One
Of the latest evidences Of this comes
from GroSSwardcin. In the communi.
ties or EaSkoh and Barescd severe
earthquake shocks were expert:
cnced and in the former place the
church bells were started ringing. \
witch" living in the ncighborhoco
persuaded the peasants that tho
devil was hungry aud was shak'
ing the earth in his anger. There
upon they collected number o.
calves and goats and drove them inc
a cave where the devil was supposed
to be dwelling. After this they sci
fire to the forest in two places TO drive
out the devil living there.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14
ALEXANDRIA, VA.
WEDNESDAY EVENING. DEC. il
rrr nficial slatcment OF Ihe refund

TIE official statement OF the refund
ing Of the city debt will be read with
interest By all Alcxandrians and indeed
by all interested in the city's welfare.
TIE cost OF rcfunding the debt OF $40
600 from the engraving OF the bond still
the last one OF them had been disposed
OF amounted 10 about s., 900, or about
two-thirds OF one per cent. To C!ty
Auditor Price, who mainly directed
the work and carried out the details, and
10 the committees having the refundlng
in charge are due the thanks OF the
entire community for the valuable ser
vices they rendered the city. The ga
zeite today gives considerable space TO
the report OF the City Council finance
committee in regard 10 the rcfunding
az the debt. It's success was certainly
ns great as could have been expected
Several OF our citizens at the outset
promptly expressed determination to
surrender large holdings and accept
the new bonds. The banks, aIl OF
them, were valuable auXiiaries. The
Gazette docs not wish 20 exploit one to
the disparagement Of the others, yet 1t
learns from the officer who was always
in touch with the business OF the re-
funding OF this debt that the rcfunding
was greatly simpliiicd when the cashier
of the First National Bank succeeded
in disposing OF the las. $4,000 OF the
bon l., thus relieving The city OF future
trouble in the matter.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

Is the event that Il proposed law Is
enacted by the next Nebraska iesiala
ture, person may live in that state
without danger OF his vernform appen
dix being removed without his consent
A member-elcct Of the lower House
states that he has Lecn approached
about the passage OF 4 bill making 1t
felony to remove Al appendix unless
after a consultation Of physicians Q!
surgeons it should be found necessary
to save life. A senator-elect propose:
to 60 even further, and will amend tho
bill SO as to make it felony for any
doctor. nurse or attendant to leave
scissors. knives, gauze or other foreign
articles in the body after an operation
When these measures become laws Ne
braska will sleep sound.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

AS AN illustration OF his declaration
that graft runs through the bushes,
system OF New York from top TO bot
TOM" Rev. DR.. Frederick Lynch, Of
the Pilgrim Congregational Church, in
that city, charged that the New York
undertaken in many cases pays q liked
fee to preachers and Sections for turn
ing business oyer to him. Il had been
in New York hardly a month, says
DIR. Lynch, when IN undertaken came
to see me and offered me 4 rake-ofF on
every funeral I would get him. Vi
course they go to the sections rs well.
do not know whether they have an
agreement with the doctors or not. :
This truly is q sad state OF affairs.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

OF which was less than per cent, be-
ing very much less than any broker
would have charged. The city, he
said. had acted in most conservative
manner in the debt settlement and he
predicted that il its affairs are conduct
ed in the future as they have been in
the past several years everything would
como out all right.
Mr.. Snowden congratulated all who
had taken part in the successful refund
ing of the debt. He said it had been
successful because the city had estab-
lished reputation for honesty and
conservatism-it bought nothing for
what it could nos pay and paid the
debts promptly He thought it remark
able that debt of 5000 could be
funded at cost OF $1,000 or less
than one per cent. He said that when
Baltimore 6naucier had been told
that the cost OF refunding Ale1andria's
debt had been about $4,000, the Bait
imorean had replied that the cost in
any city he knewof would have e1-
ceeded $4,000. Both Mr.. Snowden
and Mr.. Burke spoke of the services Of
City Auditor Price, saying that without
his assistance the work could hardly
have been so we'll done.
A resolution passed by the Aldermen
directing that the estate Of Lieut.. Snalth
be paid the amount OF his salary for
the month in which he died and also
for an additional month vas passed.
Similar action was taken in regard to
an allowance TO the estate of the late
Capt.. F. Webster.
A resolution was brought in by the
committee OF finance and public prop
erty appropriating $3.50 for the pur-
chase OF two horses for the Columbia
engine.
Mr.. Williams asked il it was more
lawful for the fire wardens to spend
$3.50 without tirst:getting Councils con-
sent then it was for the health officer to
spend $3.50 in the the same manner.
Both the Chair and Mr.. Burks
thought it best TO wait the action OF
Council, but in this instance an oppor-
tunity to get a very excellent pair OF
horses was presented and twas thought
best to take advantage OF it.
Mr.. Swan, of the public property
committee, gave satisfactory exp!ana-
ton OF the hasty purchase, saying that
the horses were badly needed and the
opportunity presenting they were
bought in the city'S interest.
The action Of the Aldermen III order
ing the bill to be paid was conclrred
in.
An ordinance approprialing $1,000
for general street and sewer repair came
in passed by the Aldermen. Under the
law this was laid over until the next
meeting.
Mr.. Birrell moved that the Aldermen
be invited to join Council for the clec-
ton OF police commissioner from the
Third ward
When the Aldermen had come into
the Council chamber, Mr.. Birrell put
in nomination Mr. August Oellert
and lie was elected without opposition.
Council then adjourned to meet on
the second Tuesday IN January.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

EMPEROR NICHOLAS will present tc
ZaBndam, in Holland. statue OF Peter
the Great. It was in this village, it
will be remembered, that Peter learned
shipbuilding for the benefit OF hi
country. The house in which he lived
has long been place Of pilgrimage ior
Foreigners visiting Holland. Il was res
tored and enclosed for its preservation
by Emperor Nicholas; grandfather.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

Il the Federal Court, at Greensboro
n. c., on Monday two men, Quas'er anc
Napier, charged with violating the white
slave law, were found not guilty by Judge
Boyd, on the grounds that the law
was demonstrations in that it inter.
fered with the principle Of States right
This decision will have great effect on
other cases OF this nature tc be tried IL
that stntc.
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

May Yohe, the former London music
hall singer, whose marriage to LORI
Fraucis Hope and subsequent elupe'
ment with Major Strong. sou Of forne'
Mayor Strong. Of New York, brought
her into the Iinetght, Inns again EN-
barked upon the matrimonial seas
Her new husband is F. H. Reynolds, :
musician, formerly attached to ususi'
raj comedy company, ~hom she ha'
inst married at Seattle,
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14
THE FIRST NATIONAL BANK.

Alexandria. Va, Jan -, 1910.
TO The Finance Committee, City Couu-
ell, or Alexandria
Gentleman: The notes for 100000
given in April last. and negotiated By
this bank we're removed in August-Sep-
TENDER 1909, Prior 10 maturity pay
mente were made on account of notes
10 the amount OF 5000, and bonds 10
that amount withdrawn. \ rehate or il.
forest was allowed amounting 20 $3.50,
which the Auditor will explain. On
December ~, 1879, aud January ], 1919,
two new notes wore given. one for $S,.-
G)o, payable 10 NJ. q. Baker. cashier,
the other for S250t0 payable 10 George
l. WarGeid, cashier. Since January (,
1910. three thousand dollars has been
paid on account Of The $1,000 note ana
three bonds or Sl.Gg) each withdrawn.
This leaves Z balance of$-1uDl and We
hold rs collateral eigtty-nine bonds Of
81 DO each. Nos. 4,j.@:;- ca -:-9-!tU-l2-
81 and Nos. 47G TO $50. last Two numbers
inclusive. Very truly ynUrs.
GEORGE H. WAKEFIELD.
Cashier.
Isetwecu January -, 1919. and Sep
ten: Der y, 1872 Tie Finance Committee
sold Il bonds OF 81 90 each, leaving
10. The bond market apparently waa
not an inviting one for money in
yestors. On September %, 1910, in
the Alexandra Gazette, in the col
umn devoted 10 Virginia News" IL
was stated that y. w. Harris & Co, Oi'
New York, WAS the highest bidder for
Norfolk city tour and halfncr cent bonds
offering 9GU3. The Commercial and FL
nancial Chronical in its issue Of October
8, 1910. quoted LyEchbu:E 1 per ctnt.
refundiGg and water asked ~. offered g..
Norfolk city four cent. :"rtnr. and i'm
proyementS asked 95, offered ~. wish =:
declining bond market. ana offers lna;.o
by which we could dispose OF the re-
naming $4,000 and be assured tn, $50
900 Of these bonds would form par Of
permanent investment :und Of az in
surance company, they were Old. The
table OF the bends exchanged and sold
now follows:
There were printed tho following
bonds known as 1893 issue:
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14
OFFICIAL.
THE FINAL REPORT OF THE COM
i MITTEE ON FINANCE REG ARD
mo THE EXCHANGE OF BONDS
OF 1870 FOR BONDS OF 1903, AND

mo THE EXCHANGE OF BONDS
OF 1879 FOR BONDS OF 1903, AND
SALE OF BONDS OF 1903.
The city Of Alexandria can be con
graduated upon the successful ending
of this refunding offs debt mounting to
three quarters of a million OF dollars ut
figures closely approIimatlng par, and
the wisdom Of the City Council author
izing the Finance Committee and the
Commissioners of the Sinking Fund to
refund the debt of 1879 one year prior to
maturity. Tho policy OF tba committee
was TO bold the value OF the bonds at
par, aud this they did SO long as !, was
safe so to do without possible financial
embarrassment The proof OF this will
BIS evidenced by figures TO be hereinafter
presented. On January IS, 1910, there
was laid on the desk OF each member OF
Council 4 review or the dobt," detail
Ing IN a comprehensive manner the sale
ofnrd exchange OF hords,as prepared by
the Auditor. Your COMMITTEES nc the
same meeting presented report on the
same limos. In that REPORT .wo said the
refunding having reached the stage
wherc nothing remains but to pay the
s2.40O OF bonds Of 1879 now oitstahdipg,
and pay eff the notes for $4,000 ont OF
the proceeds Of the sale OF the b bonds
of 81 900 EACH The last OF these bonds.
$4,000, were sold on October Slst, 1910,
by authority Of section or tho refund
ing act Of 1908 which reads az follows;
":Section ). The Finance Committee
OF the City Council are hereby author,
lied and directed to exchange new bonds
for outstanding bonds Of same value and
10 sell, 1t such time, in such manner and
amount as they in their discretion may
deem best, any Of said new bonds for the
purpose of raising money to purchase
any outstanding bond. The proceeds OF
tho sale Of such cfthe he1 bonds as may |
be sold, shall be uaed only ~ the pay
meat Of the old or outstanding bonds.
In April, 1900. with $3.50 COO OF l%s 3onoS
still on hand. and the necessity Rsihg
us to provide for the payment Q, as
equal amount OF bonds or 1879 shioh
would mature on July ], 1909, the bold
ery O! which desired theIr payment, the
Ccmmittes sdveTIi5ed iE the
Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1910-12-14

risd the notes for q iIt,Ir ,.ur-,, ...~--
per cent. for four months August 81,
December 81, 1909. After this last da.a
inc money market Has ola character 10
sdmonish those who thought on, and
worked OUT sorne problems regarding
this debt 10 look further ahead. The
city has not the same amount Of ',1orcy
to its credit on January !. - It has on
Julyl. With tae new year the cspcnd!-
lures go Oh and the receipts decrease.
The bank however, still arranged for
the new notes only raislag the interest
to four per cent. and using every effort
to mark ct the bouds ~ 4 :aif price. We
quote a letter In regard TO the s. bonds
Of 81 900 each.