davidaulloa/AmericanStories huggingface dataset:
The Delta independent. [volume] (Delta, Colo.) 1886-19??, 1911-06-23

II. c. Getty returned Tuesday
from a business trip to Denver.
The Washington times., 1911-01-01

NEW YORK, Jan. I-Conservatism
with very mild optimism in the banking
outlook for 1911 is expressed by repre-
sentative bankers of the country, a sym
postum of whose views is published IN
yesterdays Evening post. The follow
ing are some Of the expressions:
David r. Forgan, president Natlonal
Citv Bank, of Chicago-"We look tor
some more trade reaction leading to an
easier money condition. and therefore
gradual recovery of courage, confidence
and enterprise. This country has not
gone to the dogs
Ralph s. Stacy, second vice president
of the National Bank of Commerce, or
Seattle-"The best feature of the pres
ent outlook here is a somewhat better
demand for lumber. We do not look
for a great revival in business condi-
tions during 1911"
c. II. Huttig, president Of the Third
National Sank, of St. Louis-"One of the
most encouraging features is the proba-
bility that Congress will, at its spring
session, pass a satisfactory currency
bill. The money market prospect is for
an abundance of loanable funds
A. c. Jobes, vice president of the
First National Bank, of Kansas CITY,
do not look for any material revival of
business during 1911, but am of the
opinion that conditions will run along
very much as they are now until after
another crop shall have been harvested. ="
Graham G. Lacy, vice president Tootle-
Lemon National Rank, of st. Joseph-"I
think the most healthful feature is the
The Washington times., 1911-01-01
REFORMS IN CURRENCY
CONSIDERED NECESSARY
Local Financier Discusses at Length the Situation at
Home and Abroad-Prudent Business Men Find No
Cause for Uneasness in Present Situation.
By 7. SELWIN TAFT.

foreign exchanges to our internal trade
and to recognize what a world we are
to ourselves. Still 1t behooves US to
use every effort to secure our share In
the foreign commerce of the world. We
need this foreign business for ourselves,
but our children will need it much more
and Will hold us accountable for its
loss.
There is no doubt that as a nation we
have sadly neglected the opportunities
offered by foreign markets. We have
in fact been too well of at home.
Hardships, limited area and oppor-
tuntty, drove other countries far afeId.
and they have pre-empted nearly all
the foreign markets, in the cultivation
of which they have acquired wealth
in, a form, which has aided them in
making further conquest of the kind.
But there is something substantial
stil to be done with energy and capital,
and meantime if it will encourage US
to renewed effort and not induce a spirit
of premature contentment, and II il will
on the other hand weaken the energies
of Europe, we can point with pride TO
an internal business such as no other
country can show.
If Conservation Prevailed.
Were such an avalanche of produc-
ton as we have in our domestic output
supported and directed by good currency
and corporation laws, and were we less
lavish in expending that output upon
ourselves, what might not this country
accomplish? But even as things are
there is no room for despondency in
contemplating the business outlook of
the United States. In our manufactures.
in the products of our farms, forests,
mines, fisheries, etc, we have an annual
production of $35, ,OOO, ,0OO, 600
European countries provide no parallel
to this, and 1t will be apparent to the
most skeptical that Notwithstanding the
country's s1owness in adopting the cardi-
nal reforms alluded to and which lie
ready to our hand, so long as we have
wealth at least one-third larger than
that Of any other country, and an an
nual production unparalleled anywhere,
and all this at an early stage In our
existence, the United States is no place
for pessimist in this year of grace 1911.
The Washington times., 1911-01-01
BANKERS ARE HOPEFUL
IN A CONSERVATIVE WAY
Symposium of Views Indicates That They Are Not Over
Enthusiastic, But Believe That Brakes Are Too
Securely Set for Any Serious Danger.

determination Of bankers to put curb
upon speculation of all kinds, and in
sistence upon the conduct of all business
along more conservative lines and a
careful scrutiny Of all credits"
T. o. Watts, president First National
Bank, Of Nashville-'Big crops of every
kind-the slowing down in manufacture
that is present, and the slight degree Of
personal and general economy that trails
such a period as 1910. will more than
likely make easier money markets dur
ing 1911
Caldwell Hardy, president Norfolk Ma
tional Bank, of Norfolk. Va.-"The sit
uation in a broad sense needs intelli-
gent legislation, and it is to be hoped
that we may get something eventually
from the monetary commission and Con-
gress.''
W. II. Bucholz, vice president of the
Omaha National Bank-"A decided
check to extravaganza and a conclusion
to curtail speculation are encouraging
features of the outlook"
W. P. Manley, president of the Sc
curity National Bank, of Sioux City
THE most helpful feature is the dispo-
sition on the part of banks to make
no advances for speculative purposes,
but to confine their engagements to
legitimate business requirements.
II. B. Wilcox, president Of the First
National Bank, of Baltimore-"One Of
the most helpful features is the fact
that our bankers have been preaching a
doctrine OF go slow for some time past,
which, we think, is having its effect"
The Washington times., 1911-01-01
of Washington Demonstrated Important Banking
THE RECORD OF THE GOOD YEAR 1910
IN THE CAPITAL OF THE NATION
Nearly Million Doarshe Story of Banking
Labong Prosperity Told Largely Fig
ures-Genera Comment
By L. A. FLEMING.

par. around 113 and better, so that even
a larger sum of money than the princi-
pie of the issue was involved. The re-
cent financing of the Washington Gas
Company brought into the market an
issue Of '$2, $4,000 high grade per cent
bonds, and these too sold around 107 to
ITO, so that more money was required
in the financing.
Moreover the Gas financiering has
placed the stock Of the Washington Gas
Company on a $3.50 share annual divi-
dent basis, and made plausible reason
for the high prices at which the stock
has been selling compared with its par
value of so q share. 1t has settled the
status Of the corporation, ended a battle
for a larger distribution to the share
holders that has been waged for years,
changed the character Of the stock from
a speculative to an investment security,
In keeping with the desires Of large
number Of people who held 1t and who
have held 1t for years as an knvestment.
The cut In price\of the product and the
apparent desire Of the management to
reach a peace footing, also makes for
a moro regular market for the stock.
Keep Money Employed.
The hotation of these issues, involv-
ing over 100000. was an important fac
tor in absorbing the floating capital of
the city for some weeks after their issue,
and they played an important part In
assisting the banking institutions in
maintaining high rate of interest. AS
a matter of fact money has been in good
demand during the entire year, with the
possible exception of few weeks. The
Stock Exchange, the great real estate
operations of the year, and the success
full prosecution of the retail business
have demanded great banking accommo-
dations. Almost without exception the
legal rate has been maintained. except
to the favored and to the borrowers with
collateral security, who have been IA
vored with and 51A per cent loans, but
who have also paid per cent time and
again. The banking capital Of the city
is now SIS, $50. 1872, counting capital, sur
plus, and undivided profits. These fig
ures are of November 10. 1910 The Riggs
National and the Union Trust will each
add 100000 to surplus Immediately, and
many other institutions will also in
crease their surplus account. while all
will add to the undivided profits.
~ Total Deposits, S58,o4e,ooo.
The total deposits of the banks and
trust companies. other than private in
stitutions. on November 10. was $5s,0i9,
900, showing the thrift of the community.
and not only the thrift. but the wealth.
As a matter of fact the greatest in
ducement to depositors ought to be, and
probably is, the assurance of positive
safety of their funds and the certainty
that they are obtainable on demand
when desired. Returns are and should
be secondary. Washington banks have
demonstrated their strength on more
than one occasion and never better than
The Washington times., 1911-01-01

From practically every point of view
the year 1910 has been one Of great
prosperity to the financial. security,
and business interests of Washing
ton, This in contradistinction to the
rest of the United States and especial
ly with reference to the gloomy year
on Wall Street has but the more em-
phatically emphasized the fact that
the Capital stands practically sepa-
rate and alone, feeling but slightly
the Jars that come to her sister cities,
strong enough in herself and as the
seat of Government, to move along in
the even tenor OF her way, undtsturb-
ed by panics and depression.
As a material evidence Of this pros
perity, speaking in actual facts and
figures, is the wonderful growth In
the bank clearings, which are $2s,646.-
397 greater than the clearings for
the preceding year - and clear1ngs
tell a story, straight and indubitable.
Further evidence of the Materials
tic prosperity is shown in the actual
distributions of cash on account of
interest and dividend payments which
will be made within the next day or
two-payments to holders of stocks
and bonds as investments, for Wash
ington is not a speculative city. The
grand total of this distribution, $685.
sos, is probably in excess of the esti-
mates of the most optimistic of the city
financiers.
Nearly a Million Dollars.
Moreover, payments are not made
by all corporations and banks in the
city at the same date. Many of the
banks will make their distribution for
the quarter with February and the
same is true of the Gas Company.
Then, too, the figures of payments to
be made at once do not include many
private corporations distribution; only
payments on the stocks and bonds of
corporations and banks listed on the
local Stock Exchange. If 1t were posst-
BILE to obtain a statement of all pay
! ments, the grand total would not be
far from a cool million OF dollars, much
of which will seek reinvestment in
local securities within the next few
weeks Nor has this anything to do
with the payment of salaries, the regu-
lar monthly distribution by Uncle sam
to his employees, estimated at S3,5OOOO
a month Of 81, 900 for January, 1911.
On the Stock Exchange.
Turning to the Stock Exchange, the
records show that there were transac-
tions involving 62,427 shares of stock
and s.. 63O,1S3 par value of bonds during
the year. AS compared with the record
of 1903, there was a material gain. al
though 1910 was a poor year for securi-
ties everywhere but in Washington.
Two large issues of bonds have saved
the local market: have given the brokers
a larger business, and have made for
more commissions. The Capital Trac-
tIon Company issued 81, $4,000 per cent
bonds, and they were marketed above
The Washington times., 1911-01-01

The monetary situation at the close
of the year, while It leaves room for I'M
provement, presents no cause FOR US
easiness to the prudent business man.
On the contrary, the outlook may be
said to be distinctly more hopeful be-
cause 1t indicates a rapidly growing
demand-such as Congress cannot long
ignore and may not, indeed, desire to
Ignore--for the two great reforms which
will remove our national finances from
the recurring fear OF panic on the one
hand, by providing Central Bank of
issue where bankers can obtain ad-
vances against approved commercial pa
per in times of need, as in other coun-
tries, and on the other hand will at
tract the peoples money into corporate
forms of investment to the great de-
velopment of the country's wealth and
its more equitable division among the
people by providing such corporation
laws as will satisfy the investing public
that they are being given an absolutely
square deal
Two Important Wheels.
Sound currency methods and good cor
poration laws are the two wheels on
which commercial prosperity travels,
and this country, notwithstanding its
great growth, is miserably behind its
business rivals in respect to both.
Pending these reforms, 1t is gratifying
10 note that the preparations for taking
out emergency circulation under the
Aldrich-Vreeland act, should the same
be needed, are well advanced all over
the country, so that the danger both of
and from financial crises grows less all
the time. There is no doubt that the
somewhat poor showing made by our
foreign trade returns during the past
lively small trade balance in our favor
has affected our exchange and corre-
spondingly depressed the country's
finances.
1t Is we'll perhaps at such a time for
our peace OF mind to turn our eyes from
The Washington times., 1911-01-01
CHAPTER X (Continued) .

a LII this was deadly uninteresting
~ testimony to a public thirsting
~ for the gruesome accounts of
possible eye-witnesses. When
the experts were called TO deliver their
opinions on Bartons sanity or insan-
fly, the tf1rong yawned The first of
the scientific brigade was a physician,
who studded his testimony with formid-
able technical terms and rid himself of
burden of bewildering measurements,
from all of which 1t followed that death
had been caused by a sharp instru-
ment" Che would not say knife" if his
life were at stake), which instrument,
starting from the sternoclidomastoid
had severed the parotid, jncising it OBJ
liquely, had passed through the external
carotid artery, had been DETECTED on the
maXillary angle, had cut the stenoclido-
mastoid again and had eventually been
checked by the sternal fork.
After the illumination testimony, and
the equally clear opinions OF other ex-
perts, a clockmaker was summoned to
the stand-a man who had been commits
stoned by the State to examine the
clock that had fallen from the mantel-
piece. His testimony was no more in
teresting to the crowd than that of the
experts. But Barton hung on every word
that the man spoke.
''T'he clock which l was asked to ex-
anime" he testified, "is of an old pat
tern. 1t has a good movement, which is
In excellent condition. l may saw that
clocks so well made and well finished
cannot be bought nowadays The hands
had stopped and pointed to 12:2O IT is
an eight-day clock. 1t could have run
forty-eight hours longer when 1 looked
at the works. It did not stop, but be-
cause it had been upset. After having
been righted it could have been started
simply by touching the pendulum. I
should say that the clock stopped at the
time indicated by the hands"
The crime must, therefore, have been
committed at the same hour" comment
ed the prosecuting attorney, as he dis
pissed the clockmaker.
The witnesses had now all been heard.
After a delay of several minutes the
prosecuting attorney rose from his seat
10 sum up the States side of the case
Barton, somewhat reassured by the
cIockmaker's testimony, listened to the
prosecuting attorneys summing up
without apparent emotion. Inwardly,
, however, he writhed under the stinging
lhEectlyes that were hurled at him. Be-
Sldes the rhetorical display which was
intended primarily for the jury, the ora
Llon contained much sound reasoning
from which there seemed no escape.
AS the prosecuting attorney spoke
murmurs of approval rippled through
the courtroom. When he concluded
there was an outburst of applause
winch was very quickly suppressed by
the judge.
Barton shuddered as he heard the
maximum punishment demanded for his
Srime-a punishment that meant not
only death, but the ignominy of a pub
TIC execution. During the Numbering
arraignment of the prosecuting attorney
his mind:
Il must speak; want to speak; I
will speak" Over and over again he
repeated, II will. 1 will, l will
During the long speech Of his lawyer
The Washington times., 1911-01-01
aEARoARD AIR LINE RY.
SOUTHERN RAILWAY.

n. B.-FoIlowing schedule figures published
only as Information. and not guaranteed:
For Atlanta, Birmingham, Mobile. New
Orleans, Asheville, 500 a. m. and 10:SS D. m
daily; 500 g. m. daily for Chattanooga and
Memphis. Dining cars.
For Roanoke. Knoxville, Chattanooga.
Birmingham, New Orleans, 1910 p. m daily.
Dining cars.
For Roanoke, Knoxville, Chattanooga, Menu
phis Nashville, 40 a m. daily (sieepins
car open after 10 D. m.). Dining cars.
For Charlotte. Sp9rtanburg, Atlanta. Annis.
ton, Birmingham, AIS p. m. daily. Dining
cars.
tourist cars for California Monday, We'd
nesday.. Thursday, Friday. Saturday, 4:1s
p. m.
For Charlotte. Columbia, Charleston. Aiken.
Augusta. Savannah, Jacksonville, and Flor
ida points. $50 .. m. daily. Dining cars.
Local for Harrisonburg. $50 q m daily.
as p. m and 4:30 p. m. week days: for
Danytlle, f:30 q. m. daily and for Char
iottesvilie. 7:30 a. m. and 4:3o p. m. daily:
for warrenton. 4:3o p. m. daily and ass
,. m week days. Frequent trains 60 ana
'l- L 3 BROWN. General AssaI
The Washington times., 1911-01-01

in the trying times Of 1907, when they
passed the test of disaster without
blot on their escutcheon.
Banks Pay Out S2o2,s 800.
In the treatment of their shareholders
local banks have been quite liberal The
Union Trust Company will be a per
cent payer during the present year, the
first payment being due this month.
Probably the Commercial National Bank
will move its rate from to per cent
with the next distribution. 1t is ex-
pected that the Citizens Savings Bank,
one Of the giants Of the smaller institu-
tions, will go on a dividend basis for
the first time, and seek new quarters for
enlarged business. In dividend payments
! the banks have given their stockholders
for a New Year present the sum of
S202- 800 The Riggs National is another
institution that is expected to increase
its dividend in 1911
New institutions in the banking field
have made fair progress. The District
National marks the new year and the
second quarter Of its second year, by
moving into its own modern office
building with enlarged and excellent
banking facilities, and may be expected
to give few dollars to it's shareholders
before the end of the year. The Provi-
dent Savings and the Park Savings, both
new banks, have found a place for
themselves. Before the new year is
sixty days old the Federal National
Bank will be launched.
Mergers Make for Strength.
This brings up the point of the fuIIness
of the banking field in Washington, and
suggests the desirability of a few mer-
gers to the Strengthening Of institutions
and the making Of more important
| banks. No other city in the Union has
been so thoroughly f1ne-tooth combed for
deposits as has Washington.
No other bankers in the country do as
much for SO little in the way OF returns
as the fraternity in Washington. Small
deposits make for largeSaggregates and
are to be encouraged, but the habit of
our bankers of making collections, prac-
tically for nothing, often giving up the
cash while the paper Is in transit, and
othe rthings that are simply and purely
! accommodations" for individuals and
out-of-town banks and bankers, should
be curtailed, if not stopped, and II can
only be accomplished by harmony and
unanimity of action.
tically rebuilt its banking building to
street level. Its banking rooms are
among the handsomest in this city OF
beautiful banks. The Dime Savings has
also taken possession OF a new DulIulnS
of its own. All the old-timers in the
banking field have made great progress.
All in all, Washington bankers, business
men, investors, and workers have much
TO be thankful for during the Old Year,
much to look forward to during 1911
Investments have yielded well, labor
has been employed almost constantly,
real estate operations have been greater
than ever in property development and
in building improvements, profits from
commercial operations have been sure
and satisfactory, credit has not been
seriously abused or strained, and pros
perity has been so well used and care
fully conserved that she promises to
tarry in the Capital yet another year.
And may the totals of 1911 when gar
nered in figures demonstrate still greater
prosperit,-.
The Washington times., 1911-01-01
Bank Treasurer Held
For $4,000 Shortage

WESTF1EBD, Mass. Jan. I.-V. W.
Crowson, treasurer of the Westfield
Savings Bank, has been arrested and
of the grand jury.
Crowson is said to have admitted to
State Bank Commissioner Chaplin that
he made away with $4,000. The short
age will not result in the closing of the
bank, and the institution will tomor-
row declare the usual semi-annual divi-
dend of 2 per cent.
The Washington times., 1911-01-01
Small Gold Rush
In New York State

POUGHKEEPSIE, N. Y. Jan. IA
gold rush which, on a small scale. bids
fair to rival those of more famous
in the West, has been oc-
casioned here by the announcement
of the finding Of gold ore assaying
$lS6 to the ton at the foot of the
mountains. Claims are be-
ing hurriedly staked out, and notice
of the discovery has been filed with
the secretary of State.
The Washington times., 1911-01-01

a LII this was deadly uninteresting
~ testimony to a public thirsting
~ for the gruesome accounts of
possible eye-witnesses. When
The Washington times., 1911-01-01
Standard Oil Exports
Steadily Dropping Off

PHILADELPHIA, Jan. 1.-For the
first time in a generation, the New Year
brings some measure of gloom to the Of
ficials here in charge of the export busi-
ness of the Standard Oil Company, for
they see steadily decreasing business.
1t was figured this morning that in the
past year 3IO.OOo,OOO gallons of oil were
exported, which Is a loss of $500, coo
gallons from the previous year.
The Washington times., 1911-01-01
RAILROADS
BALTIMORE & OHIO R. r.
LEAVE UNION STATION.
ROYAL BLUE LINE.

EsO1AA DLO6 LINE.
EVERY Other Hour On the Odd Hour"
To PHILADELPHIA AND NEW YORK.
NEW YORK TERMINALS. LIBERTY 81.
AND W. 2sD STREET.
s1:oo O m.-Diner, Pullman Parior Car.
1890 a m,-''Royal Special" S-aour Tr.ia-
Coaches SSsi sn.cis RsEiSG and Observation
.ii:oO a. m.-piner and Pullman Peri0r ca..
r:o0 ?. m--Dinsr and I5 pHilnsa P1Tiss Sas:
s-hr' Buffet Smoker. Parlor. obserVation Cara
t1:oe p m--Coaches to Phiadelphia-
.lS:iS nisht-sieeDers to New York
s2:52 a. m.:.SlesRsTs to philas A. Sed Nsw Ysrh
'l:O0. 's:Od .. m m ,,,rrxo,r
EVERY HOUR ON THE HOUR"
Wissa SEQ dags fsss IES :Od : o p e s as'c 1s 2 n .s
tssS S "a 4aSS 90 a!S0 % l;SS f5sS nSo5 :ss ~: ss
t::ss I:::s sSs :sSss ':i 800 :iS hlsss @ ~
SSHHISefhSSirH SHIehSSS3i raaU 81. 4; M louis: and , DLo6rs
:f1s = .sio nj .1 a @ p s & is :sis T. s.Gs. nj
.is.n aiSht. Sleeper ready, 10 D. m
CLEVELAND. 's:1o p: m.
S1LHMTI9SSsa SS14LEHRT9Sa SO SO Z. = m m. $50 .. m.
CuMBERLAND. $50 p. m. Queen cit1
sR%s1IaNScHEsTER. fs:1o . m. t4:1o. t5:os ?. N.
FREDERICK. 1910. tS:so g m, u:1. fi:iI
fsisI PA IaSERsTowN. 1910 a. NJ, $500 .. m
snaiiy Except Sunday. tSunday only.
T.ienhone3 at all OF the following Ticksg
ottcss. lE17NG ct. n. w. Main 1881; s19 Penn
syIIania ave, Main HS; Union station Tlcksg
Gyfree. Main 1850: Information Bureau Main 7Ssa
: cuEsAPEAKE q OHIO LINES.
x,,,hIisoed as information only, not guaranteed
s.o0 D. m. daiIy-For Virginia. West Vir-
rtnia and Kentucky points Pullman sleep
srs 10 Cincinnati and Iouisvtlle. Dining car
from .aa 6or1o y mo iiyHCINCINNATI-sT. LOUIS
ryTSSGO SPECIAL. Solid train TO ST
SonjS with Pullman sleepers to Chicago
S,rns onIy at important stations. Fullman'S
s1St souipment and c. & o. dining car.
~ 10 n m daily-F. +. v. LIMITED, 70:
- West. Southwest, and Northwest. Pull
,ss, sleepers to Virginia Hot Springs. Cincin-
,aI and LouisVille, Cincinnati sleeper opes
x -soccupancy 10 D. m. c. & o. dining car.
TJcket Offices 513 Pa. ave., 1853 st. and
Union Station. Phone Main lO66. 22OS. and IsSa
sEAROARD AIR LINE RY.
ss.cx ID m daily-'-SeaDoard Fast MAN.
rSycvrh coaches and Pullman sleepers 70
Ssvsnrah and Jacksonville. Parlor cars Jack
sonyille to Tampa Through Sleeper TO Al.
lants- Dining car.
i:1o D. m daily-"Seaboard ExprcSs, Slse-
sr5cally lighted sleepers and observation ea1
equipped with electric fans. Through SER
vice TO Savannah. jacksonville, Tampa, At
kAta, Birmingham and Memphis. Dining cara
I1cket O1ice, 1I1S New York ave. y. W.
T. A. HARDWOOD, G. 7. n
GEO. z. PHILLIPS, d. p. A.
n =. Ryan. q p. Il. Pertsmonth Va
The Washington times., 1911-01-01

The Conclusion of This Story VIII
BE FOund In TomorrOw's
Issue of The Times.