davidaulloa/AmericanStories huggingface dataset:
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
Vanderlip Sees Danger
Along "Fiat Money" Road

Frank A. Vanderlip, president of the
National City Bank of New York,
said:
THE fatal defect of the Glsas bill, .
Mr. Vanderlip said, rs that it starts
the Government on an issue of fiat
currency. Never lose sight of the fact
that the notes which it proposes are
fiat notes-are as absolutely fiat as
a Government could issue. They have
no reserve whatever provided by the
Government; they are to be loaned
without limit In the law to a number
of banks.
IF this Congress votes to create
fat money to loan to a set of banks
it is distinctly within the range of
probability that a succeeding Con-
gress will vote to issue some different
similar kind of money for some other
purpose
There is no case in all history
where a nation has started on an
issue of fiat money that the result has
not been the depreciation Of the issue
and usually a complete break down
of the financial system OF that coun-
try.
"a single central bank owned by
the people and governed absolutely
by public officers can be created and
general power to issue the bank notes
that our commerce needs given to
it. These notes will be the obliga-
ton of the bank and not Of the Gov
eminent.
81 believe the intellectual Judgment
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
George M. Reynolds No
Longer Is Conciliatory.

George NJ. Reynolds, president Of
the Continental and Commercial Ma
tional Bank, who previously has taken
a conciliatory attitude toward the
lawmakers in charge of the Glass
owen bill, turned on that measure
in an address and denounced it.
IF the Government, on the prom
Use that it Is for the good of the
people, can now exact from the banks
a subscription of 20 per cent of their
capital, to be used in the establish
ment Of politically controlled banking
institutions, why can 1t not, under
the same principle exact another 10
per cent next year and so on ad in
finitum, and If that can be done with
banks in the name of the people why
can not the Government in like man
ner compel those engaged in the dry
goods, grocery and other lines of
business to submit to like exactions ?'
he sked
1.-THE application of this principle
would mean that the men who had
not achieved might, by the exercise
of their ballots, take from those who,
by the application of lifetime Of en-
deavor and under the laws of open
competition, had acquired compe-
tency
Even the Interstate Commerce
Commission has no authority under
which it can compel one railroad to
loan it's credit, cars or locomotives to
another railroad. 1t has not the power
to build and operate new lines Of
road or to order the abandonment
Of any line already constructed, nor
has it the power to discharge any
railroad director or official"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
PHELPS-DODGE
T0DOM|NATE|N
ROCK |SLANDCO.
Arthur C. James Slated to Sue
coed W. H. Moore as Chairman
of Executive Committee.

NEW YORK, Nov. S.-Phelps.
Dodge & Co. interests are hereafter
to dominate the Chicago Rock Island
and Pacific Railway Company.
Another representative of the old
firm will be placed on the directorate,
and it is understood that Arthur
Custiss James, vice president of
Phelps, Dodge & Co. and already a
director Of the Rock Island, will prob
ably succeed Judge William H. Moore
as chairman of the executive commit
tee. The new Phelps Dodge repre-
road man.
Changes to be made, however, do
not mean retirement from the Rock
Island by the Reid Moore interests,
who heretofore have directed the
management of the property, state
ments being made on high authority
that Daniel G. Reid and Judge Moore
will continue to be identified with the
road.
West Gets Director.
Another addition to the directorate
is expected to be made later to rep
resent Western interests.
All concerned are declared to be
working in harmony.
In Wall street, it is felt that with
Daniel G. Reid and Judge Moore alb
sent from New York most of the
summer the affairs of the road were
not attended to with sufficient de-
gree of executive direction. This is
believed to have been the most inn
portant point that prompted the
Phelps-Dodge interests to seek domi-
nation of the roads direction. Under
the new regime, Phelps-Dodge win at
all times be in direct touch with its
affairs.
Rumors that the Rock Island was
considering a change in it's fiscal
agents and bankers are without. foun-
dalton, according to inside authority.
No New Financing.
No new financing is contemplated
by the Rock Island system between
now and the first of next year
Securities of the Rock Island Com
pany and the collateral trust 4 per
cent bonds of the Chicago, Rock Is
land and Pacific Railroad Company
have since the first of the year broken
sharply on rumors of receivership and
selling by the Reid Moore interests to
Phelps, Dodpe & Co. Since the be-
ginning Of this year Rock Island
Company preferred has declined from
AZ "a to II "a and the common
from 20 ga to ~ 1-2. The collateral
trust bonds broke from Sc ga to 49,
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
OCCASIONAL
OBSERVATIONS

II James J. Hill had swung his req
lights six months ago, when nearly
everybody was going full steam
ahead, more good would have result
ed. BY waiting until this late day
he is apt to do harm by intensifying
blueness. What is needed now-and
what will be needed still more three
months from now-is a stout heart
Just as things were not half as rosy
as represented some time ago, so hey
are not as black as now painted by
those who formerly misread the out
look.
Modera ton is as scarce as business
in Wall street.
Decency is winning notable victo-
ries in financial circles these days.
The upheaval in Rock Island Railroad
means just that. And now st. Louis
and San Francisco Is to be purged
tits credibly whispered, of those who
brought about its collapse. The char
acter Of the men behind a property is
now as important as the property it.
self in the eyes of discriminating In
vestors.
Small oysters forced the Sealshipt
Oyster System into receivership. This
is not a jest. The company has an
abundance of young oysters, but has
been unable to supply enough large
and mature oysters to meet demands
Because of this, earnings fell.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
Railroad Men Plan
To Fight Sea Rates
Lower Freight Tariffs to Follow Ca
nal Opening and New Ocean
Competition.

SAN FRANCISCO, Nov S.-The
great railroad companies of the United
States will not sit idly by and see
their enormous freight business go
into the hands of the steamship COM
panies who are planning low trans
portation rates with the opening of
the Panama Canal.
Million dollar" brains behind the
railroads are at work planning over
land tariffs that will meet any COM
petition the steamboat men may be
cole to put into effect.
1t was announced by officials Of the
Southern Pacific and the Santa Fe
systems that already plans are being
made to put into effect export rates on
freight from all points in the United
States to the Orient and Australia in
competition with the lowest rates the
steamship companies will be able to
advance.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
Great Bankers Open
Fire on Money Bill
Frank A. Vanderlip and George NJ Reynolds Say
1t Portends Evil to Nation

CHICAGO Nov 8Financers still talking
made at the annual meeting
Association
Hostility the Owenlass bill
anerp president of the National City Bank
IN would
possibility he said THAT contains clements national
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09

MEMPHIS, Nov. S.-Trying to es-
innate the crop has absorbed the at
tention of the cotton market during
the week The process perhaps has
made some progress, though there
continues to be considerable range in
ideas. The man who expects the final
outturn to be below $4,000 900 is just
as confident as ever that he is right,
while the believer in above that
amount claims to see no reason for
changing his views. In the large
movement both claim to find eucour-
agement
The small crop adherent says that
the big receipts reflect the free buy
ing by consumers because OF a belief
in the insuiiiciency of supplies, the
high prices ruling being an ample in
centiVe to the producer to sell. even
though later there may be a higher
level of values; that the absence OF
any pressure to sell shows unmistak-
ably that the underlying basis Of
strength is entirely healthy.
On the other hand the believer IN
crop of 14500,000 or more bales
argues that the producer has a Turk
ing doubt as to the crop being small,
and, realizing the loftiness of values
and the probability of crops in other
countries than the United States help
ing to make up for the deficiency in
this country's outtrun, has FASTENED
to sell, lest later he shall have to
accept lower prices. He argues also
that he bull news has been amply
discounted by the advance above 13
cents, and that estimates of consump-
ton will have to be shaded later, and
that spinners have taken freely
enough to date to enable them to
adopt a more conservative policy
henceforth.
Ginning Report Helps.
The information as to the amount
ginned to November / has helped ~
clarity the atmosphere to some eX-
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
and Ne0s by Experts of Finance Industry Crops and
Both Bears and Bulls Like
Big Movement of Cotton
Heavy Receipts Mean Big Crop or Small, Accord
ing to Who Is Arguing

tent, though even that gives rise to
argument, the trouble being in decid-
ing what proportion of the crop is
represented.
The strength that has character
lied the market during the week has
come, to Il large extent, from the spot
department, though activity therein
has not been so large as during other
weeks of the season. The reaction
from the high level of something over
So bale in contracts, however due
in large measure to the technical
condition of the market and to the
fact that many people had bought
contracts regardless of legitimate
conditions, failed to cause any stam-
pede among holders of the actual
The spinners were quick to see this,
and around the bottom began to alb
sorb offerings. Sellers became more
careful and some rebound followed.
The good business done in spots In
the Liverpool market and other signs
of revived interest on the part of
large spot people caused the future
market to display better tone.
Shorts Cover.
Some unfavorable weather in the
western part of the belt heavy and
general rains being reported in part
OF Texas and most of Oklahoma,
stimulated some covering by shorts,
while about the same time advices
favoring the smallET crop estimates
became more numerous. The fact
that within a few more weeks the
Government viii issue It's official es-
innate of the crop and that pracd-
cally everyone expects It to be built
ish affords another reason why there
is an undercurrent of firmness that
discourages a disposition to try for
much decline.
Conditions have been more favor
able for picking during the past week
or so, and progress in that respect has
been satisfactory.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
TELEPHONE
IS EXPECTED To
EQUAL 1872 GAIN
Gross Income Likely To Be More
p-l
Than $218,OOO,0O0 at the
Year End.

CHICAGO, Nov. S.-For Its fiscal
year to end December 81 1t seems
probable the gross income of the Bell
Telephone system will run between
$2l8,000, 600 and 1920, 900. 900, the firss
time that the 100000 600 mark has
been reached. This would be a gain
Of 10 per cent and would compa re-
with a growth of slightly over S20,va
100000, or II per cent, in the 1919
year. In other words, 1918 win pro-
duce an expansion in telephone gross
practically equal to that of last year,
and with only a SLIGHT decrease In this
percentage of growth.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09

George N. Reynolds, president of
the Continental and Commercial Ma
tional Bank, speaking of the effect
of the pending currency bill on bust
ness, declared that the principle in
the bill of attempting to force banks
into the system without giving them
any voice in the management is one
which business men generally can
not accept"
Chaos, he declared, will result If the
national banks are compelled to
withdraw from the national system.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09
PARIS LOOKS FOR
IMPROVEMENT IN
WORLD FINANCE
Servia's Obedience to Austria a
FaCtor-WiIson's Mexican
Policy Criticised.
BY LOUIS AUBERT.

SpeCTdT OdDIt 10 ne AmeTTCa0,
PARIS, Nov. S.-The general trend
is slightly better.
Servia's prompt submission to Aus
trias exacting demands shows con-
'clusively that peace is near and that
the East can not be disturbed again,
however much some parties may try
to embroil matters.
No one expects the Wilson Ad-
ministration to cease its bear batting
tactics toward business interests so
long as Secretaries McAdoo and
Bryan remain in the Cabinet.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09

of every member OF the Senate Com
mittee is in the direction of the APP
prevail of such a plan. Politically,
some of the members see serious OBJ
stacles The disposition of the Presi-
dent to give consideration to or even
to discuss no other than the Glass
owen plan is a serious obstacle"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-11-09

He knows from bitter experience that
quality counts most-quality in material,
in design, in workmanship will in the end
mean more money saved by him than by
scrambling for product of less initial
cost.
Don't experiment further, but start
now saving yourself time and money by
equipping your car with REPUBLIC
Some INSCRIPTIONS dealers may talk
against Republic, for the reason that long
discounts offered by some other concerns
allow double profit for the dealer, but
You owe it to yourself to get YOUR
moneys worth in QUALITY, regardless
Of the dealers profit. USE REPUBLIC
Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-03-21
100000 ROBBERY IN N. Y.
Robbers Overlook $5oo,ooo in Jewels
and Negotiable Bonds Lying
Close at Hand.

New York, March 18.-The finding
of a strange key in the lock of a
cellar door at No. 60 Eldridge street
Sunday led to the discovery of the
biggest robbery in New York city
eince the burglary of the Manhattan
bank more than a quarter of a cen
fury ago. The amount stolen is rough
~ estimated to be between $3.50, 900
and 100000, while a half million more
in jewels and negotiable bonds was
not taken, probably because the safe
blowers could not carry the plumber
away The place entered and robbed
is Martin Simons & Sons pawnshop
at "a Hester street. Sinsons is the
largest pawnbroker on the East side
and with perhaps two exceptions the
largest in the city. The property
stolen for the most part was dia-
monds and jewelry set with diamonds.
Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-03-21
FLY HAS CLOSE CALL
Daredevil's Plan to Soar Into sky
Comes to Naught-soo Pounds
of Powder ExpIodes.

New York, March IA steel rock.
or containing Rodman Law, the sshu
man fly" in which he Intended to be
shot $500 feet into the air descend
ing by parachute, exploded when 500
pounds of powder behind it was fired
Law was hurled rs feet from his seat
In the rocket. but was unhurt
Protected by padding and helmet
Law crawled into the rocket with his
parachute, and gave the order to fire.
The fuse was lighted and spluttered
for 80 seconds. There was a burst of
fame, cloud of smoke and a terrific
report. Hundreds OF spectators saw
the rocket leap forward few feet and
burst into fragments
Law was hurled violently through
the air and to the ground.
Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-03-21
TROOPS AWE LYNCHlNG MOB
Three Militia Companies Guard Assail-
ant of Young Girl in
Salem (lII.) Jail.

Salem, ILL.,, March 1.-THE jail at
Salem was guarded Friday night by
three companies Of militia. The state
troops were ordered out by Governor
Dunno in response to message from
Sheriff Charles w. Purcell of Marion
county that he was unable alone to
cope with a situation arisen through
the arrest of Frank Sullens, white,
twenty-one years old, charged with an
attack on Dorothy, the fourteen-year-
old daughter of Judge Charles Holt.
All afternoon an angry mob Of men
swarmed through the streets and sew
eral times were dispersed from In
front of the Jail by Sheriff Purcell
and a number of specially sworn in
deputies.
The mob, though threatening, lacked
leaders, and was handled by Sheriff
Purcell and his deputies, though late
in the afternoon the sheriff appealed
to the governor for assistance. Militia
from Olney, Shelbyville and Effingham
at once were ordered to Salem and
later the company at Altamont was
dispatched
Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-03-21
SARAH BERNHARDT INJURED
Noted Actress Has Both Ankles
Sprained When Auto collides
With Heavy Truck.

Los Angeles, Cal. March IA
Madame Sarah Bernhardt. the world
famous actress, had both ankles
sprained in an automobile accident in
Pico Heights, on the outskirts of the
city Wednesday when her machine, in
which she was being driven to the Or
pheum theater from Venice, collided
with a heavy truck and was badly
wrecked. Madame Bernhard was
thrown out and in addition to suffer
ing sprains of both ankles, was con
siderably bruised. Despite her in
juries she proceeded in another auto
mobile to the theater, and rather
than disappoint the large audience.
rehearsed her full program.
Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-03-21
NEWS FROM FAR
AND NEAR

Boston, March 14.-Former COM
mandant Of the Charlestown navy
yard and one of the heroes of San
tiago bay, Rear Admiral Joseph Giles
Eaton, retired Of the United States
navy, who died suddenly March 8.
was laid at rest In Oakland cemetery
near Lowell with an utter lack of
naval honors Wednesday.
New York, March 15-In collision
with an unidentified steamship be-
iieved to have been tramp, the steam
lighter Wyckoff, bound from Perth
Amboy to some point up the sound,
was sunk about 600 feet off the south
end of Governors island Thursday
night. Eleven members Of a crew
of IL were lost
Rheims. France, March 15.-Two
sergeants of the army aviation corps
were fatally injured in collision be-
tween machines in midair Thursday.
The accident occurred in the course of
maneuvers Of five aeroplanes.
San Francisco, Cal, March Is
Chas. M. Busch, grandson of Adolphus
Busch, arrived here with his face bad
ly battered. He said he had been held
up in Carlin, New, by thug, who hit
him with gun and took $3.50 and sew
eral diamonds.
Los Angeles, March 15.-Reported
to be on the verge of a nervous
breakdown, President Arthur r. Had
ley Of Yale has arrived at the sum
mer ranch home OF E. M. Pratt, broth
er Of Mrs. Hadley, who accompanied
her husband. Mr.. Pratt's ranch is in
the Oiai Valley.
Moline, ILL.,, March 15.-Walter
Shears, aged twenty-seven. killed his
wife, aged twenty-three, on the street
at Cambridge, H., then shot himself,
dying two hours later.
The couple had been prominent and
prosperous at Galva, ILL., They were
married last August.
Utica, N. Y, March I5.-Francis
Boradnax Of Montclai-, N. r., distin.
guished engineering expert, was found
dead in bed at hotel here His death
was the result of diabetic coma. Mr.
Boradnax installed the electric light
ing system for the worlds fair at
Chic go and was consulting engineer
on the Brooklyn bridge. He was sixty
years old.
Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-03-21
GUNBOAT SMITH WHIPS WELLS
Navy Boxer Knocks Out EngIand's
Heavyweight Champion In Sec
ond Round In New York.

New York, March ia new heavy
weight champion came to town on
Friday. His name is "Gunboat" Smith,
a sturdy son of the United States
navy. In less than two rounds he laid
low Bombardier Wells, champion of
England. Three times Smith beat
Wells to the mat Twice Wells took
the count of nine. but the third time
he dropped, the Englishman was un-
able to respond. He was dead to the
world and had to be carried to his cor
ner by Referee job and his seconds.
A terrific right swing to the jaw
automatically, gave Smith a claim to
the English title. The punch knocked
Wells fat on his face. He lay
sprawled out like man nailed hand
and foot to the floor.
The knockout came after one min
ute and IL seconds of fighting in the
second round.
Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-03-21

sick of the many intrigues directed
against him.
Last Plot Against Ruler Was in 1909.
He declared many times that he
had been unable to find loyal friend
among the nobility.
The break in the Balkans, however.
put different complexion on Greek
affairs. A feeling of patriotism and
national pride was inspired and after
Foreign Minister Coromilas of the
Greek cabinet formed the Balkan
league with the able assistance of
Gear Ferdinand of Bulgaria) the
cabals died out.
When the Balkan war broke out
King George was acclaimed by all
his people without division. When
Crown Prince Constantine went to
the front and victory after victory
was won by the Greek soldiers, the
royal family took heroic place in the
affections of the Hellenes.
The last serious plot against the
king, which was exposed by the fol-
lowers of King George, was In the
fall of 1909
Eagle River review. [volume] (Eagle River, Wis.) 1890-1927, 1913-03-21
WON BY INSURGENTS
FEDERAL COMMANDERS At NO.
GALES suRRENDERs TO REBELS.
SIX Hundred cayalrynen on Guard On
Arizona Soil See comrade and
others Wounded.

Nogales. Ariz.. March 15.--After q
terrific battle which lasted throughout
the day the federal garrison at
Nogales, Sonora, surrendered to Gem
eral Obregon, the rebel commander
Thursday night at $40 o'clock.
Late in the afternoon the federals
were driven back from their outposts
by q determined attack on the right
front and extreme left trenches. the
Huerta soldiers fleeing to the cover OF
the town. This was followed an hour
later by their surrender The fire on
the American side was increased by
the retreat and when report reached
Lieutenant Colonel Tate that one OF
his 600 troopers of the Fifth cavalry
had been wounded, he hastily assem-
bled his men Orders had been re-
ceived from Washington TO withhold
fire and these orders we're cbeyed all
day.
Bullets rained on Nogales, Arfz.,
during the battle and created crit
ical international situation which has
not been equaled since the battle OF
Juarez two years ago.
Three noncombatants were wound
ed on the American side and two
women had narrow escapes from in
jury, one bullet piercing woman's
skirt while she was on the porch OF
her home. The killed and injured in
the battle could not be learned, but
the number lis large.
In the meanwhile troops were
rushed here from Fort Huachuca.
Ariz., and Thursday night American
troopers were on duty along the Dor
der.