davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1913-07-30
SENATORS ASK FOR
M'AD00'S EVIDENCE
Henry Urges Formal Inquiry
Republicans Compare Stu
alton to Lobby" Cry.

Washington. July 2q.-The statement
| by Secretary McAdoo that there is a con
spiracy" among certain New York banks
10 depreciate the per cent government
bonds to defeat the administration cur
rncv bin evoked demands at both ends
of the Capitol to-day for such evidence as
the Secretary might have to substantiats
| this charge.
Republican members Of the Senate
Banking and Currency Committee insisted
that secretary McAdoo should uncover the
alleged conspiracy. Representative Henry
| democratic chairman of the House Rules
| Committee. issued statement assailing
! the New York bankers and urging the
House Banking and Currency Committee
Immediately 10 summon Secretary McAdoo
and the head Of every great bank IN
! New York" and to begin a searching in
quiry
Chairman Glass. however, said the
Banking and Currency Committee was
| TOO busy" with the currency bill to go
off on a tangent after an alleged con
spiracv and would keep the middle Of the
currency reform road. It is possible.
nevertheless. that several Of the less con
seryatiye members of the House commit
tee will ioin with Mr. Henry, who further
thinks II is the duty Of Congress to direct
the Glass committee TO probe the McAdoo
charges II the committee remains inac-
tive the Texan doubtless will introduce a
resolution demanding action.
Republican Senators took the stand that
NcAdoo's charge could not he regarded az
l..
dence upon which II was based was also
made public
Senator Weeks. a member Of the Bank
Ing and Currency Committee, and himself
Il banker. said that II was q move in line
with the course OF strategy pursued by the
administration TO discredit all who op-
posed It's policies. President Wilson had
put the Democratic members Of Congress
or the defensive. he said by raising the
cry that IAN insidious lobby" was at work
20 block the passage Of the tariff bill
Secretary McAdoos statement he regard
ed as a similar move in support of the
currency bill.
| Senator Townsend and other Republican
Senators also were disposed TO look upon
the conspiracy charge as political ma
npuvre.
Senator owen. chairman Of the Com
mttee on Banking and Currency, sharing
| the view Of the Secretary Of the Treasury
said McAdoo's statement expressed his
view Of the situation. but he offered no ad-
ditional reason for the charge
Senator Brstow took the view that the
Banking and Currency Committee should
t,,,.g,iga+a tho McAdOo charge when II
took up the currency bill. He expressed
the belief that the depreciation In per
cents was cue to a natural cause, the pro-
posed withdrawal Of the circulation priv
ilege.
New-York tribune., 1913-07-30
D0WRY DIDN'T HALT HYMEN
L. A. Wood Says Pre- -Nuptia,
Contract" Called For So ooo
[From The Tribune corresnone.,.

Hartford, Conn, July 29.-Leo A ",
whose marriage to Miss Isabella r,,..
daughter Of Mr.. and Mrs. Sturpss n
Turner. OF Glastonbury, was postponsa -
June 7. said to-day the Disagree, 80 =.
which had arisen between him and ,s'
Turner family in no way concerned ~
amount of money he was TO havs :.
ceived as a pre-nuptial contract.
Il have a contract signed by both NJ,
Turner and her daughter howAv.. -
Wood declared. whereby was 10 rscs,,,
a yearly income Of 5000 for the re.,o.
that practically all the responsibility :,
the Turner home fell on my shoudsr,
Mr.. Turner having been incapactated "a.
the last three years
Wood added that had he chosen ;.
marry for money, as gossip maintalnsa
he would not have assumed such srs.,
responsibility.
The Turner estate is said to be valued
at more than 100000.
New-York tribune., 1913-07-30
Apparent to All, He Says.

"Now We have the banks owning some
thing over 5000. O.OOo. 900 of these per cent
bonds. against which they have taken out
something over $7oO,0O00OO circulation.
The government steps In and proposes to
violate the currency monopoly which 10
had created IN its own interest and TO
authorize the issue Of $500. O0e. 900 addi-
tional circulation. TO be secured by the
current asse q Of the banks. an additional
amount equs, 20 20 per cent Of the pond
secured circulation Mr.. McAdoo and his
conferrees certainly ought 10 have known
that could have no other possible effect
than 20 seriously and materially depreci-
ate the price Of the 2 per cent bonds
THE Only conspiracy. II conspiracy
there be- 20 depreciate the price OF these
bonds Is the one I have just described, on
the part OF the public men in the City
Of Washington. When the price Of the
bonds began TO 90 down and they began
10 hear from the country they made
haste to restore the refunding provision
New-York tribune., 1913-07-30
Had Abnormal Value.

"The circulation privilege gave these
bonds an abnormal value. and hence the
banks became almost exclusively the only
purchasers and holders. They could af-
ford 20 buy these bonds inasmuch as they
could obtain Immediately from the gov
eminent an amount Of currency against
the same equal 10 their par value.
The national platform of the Demo
cratic party has on more than one oc-
casion demanded the retirement of bank
currency and the substitution Of Treasury
currency in its stead. This policy has
been advocated by people conspicuously
connected with the present adminiStra-
tion, and naturally the public. and espe-
cisIly the holders Of these bonds, We're
ebert 10 know what action might be takeQ
with reference 20 banknote circulation. A
bill was prepared by Mr.. Glass and his
'conferrees. and a very good bin 1t was in
its general features and purposes. Among
other things. IL provided for refunding the
2 per cent bonds into a bond bearing a
rate Of interest calculated 10 make the
same worth par upon an investment basis.
Senator owen and associates prepared
a bill dealing with the currency question
without any reference whatever TO the .
per cent bonds. and in a published inter
view ne announced that nothing would be
done with reference TO the bonds at the
present time-that would be left for future
consideration.
when these two bills were brought to-
gether the composite or compromise bill
contained no provision whateye- for the
refunding or protection Of these 2 per cent
bonds. and 81 was announced from Wash
ington. through the press. and published
far and vice that the measure in that
form commanded the approval OF the ad-
nninlst ton.
New-York tribune., 1913-07-30
BOY SHOT BY DETECTIVE
Railroad Emrloye Gays He Only In
tended 20 Frighten Gang.

Plainfeld, y. J.. July 29.-Joseph Co.'S
lick. seventeen years OF age, of No. a
Whittlesey avenue. West Orange, was
shot in the back to-day by Jacob Maths,
a Lehigh Railroad detective.
The shooting occurred in the South
Plainfeld freight yards. and MATHS was
saved by police from a crowd which
threatened him. Coslick is in the Muh-
lcnherG Hospital and Maths is in jail
awaiting the outcome OF the boys in
juries
MATHS said the railroad signals had
been tampered with and in some cases
seriously damaged. Seeing a gang hang
ing about the yard he said he fired to
frighten them away,
New-York tribune., 1913-07-30
QUEENS REPUBLICANS MEET
Committee Fixes Convention Dates
Increases Membership.

The Republican general committee Of
Queens County met last night at the
Masonic Temple. Brooklyn. 10 allot dates
for the forthcoming local convention and
to reorganize the representation scheme
Of committee membership. II was decided
10 follow the lines laid down In the cleo
tion district unit system. The member
ship OF the committee was increased
thereby TO 647.
The convention dates chosen were as
follows. County and borough conventions.
August q Assembly district conventions.
August %. aldermanic district conven-
tons with the exception Of the SD dis
trict August %. and the Esd Aldermanic
District convention. August ~
New-York tribune., 1913-07-30
Look Into Short Sale.

Incidental TO the general controversy,
the New York Stock Exchange authori-
ties are investigating to learn If the safe
Saturday on the exchange OF twenty-five
government per cents, to be delivered
in twenty days. without interest was In
strict accord with business ethics. In
qury brought forth the Information that
the sale was made I'm the hope that when
the time came for delivery the market
for the bonds would be- lower. In other
words. the transaction was short sale.
James NJ Mabon. president OF the tH-
change. said yesterday that the sale had
been brought TO the attention Of the Off
GERS and the committee on business con-
duct as soon as the transaction took
place and the police committee was
now looking into the matter special
meeting will be held to-day. after which
the committee will report its findings 90
the board Of governors.
In view Of the charge of Secretary Nc
Adoo, the\exchange authorities were par
ticularly anxious 10 make il clear that
they were not a party TO the transaction.
New-York tribune., 1913-07-30
GERMAN AMBASSADOR SAILS.

Count Won Bernstorff. German Ambas-
sador. sailed for Bremen yesterday In the
North German Lloyd liner Kronprinz
Wilhelm for a short vacation. Asked
what he thought of the Mexican situation.
he raised his hands and replied: What
can | say? Has not Ambassador Wilson
said enough" He will return in octo-
New-York tribune., 1913-07-30
ANOTHER WRIT FOR ROBIN.

Joseph G. Robin, the banker who VA
sentenced 10 B.ackwelrs Island for ore
wear on A charge Of grand larceny. swo7s
out another writ OF habeas corpus yests''
dav Justice Donnelly issued the wit
which is returnable to-day.
New-York tribune., 1913-07-30
Being comfortable is hal

Being comfortable IS hall
the battle of keeping cool. ,
Tropical suits Of natural
silks. mohairS. linens, feather
weight batistes, Canadian
crashes. + n g lis h porous
worstedS. and nunScIoth.
Panama hats.
Sleeveless underwear.
Thinnest. Softest shirts.
Very low collars.
Russet Oxfords with plump
soles to keep out the heat Of
the pavementS.
New-York tribune., 1913-07-30

Some folks have money
thrust upon them
Others save it by pocketlng
the savings on our mems
Summer suits.
Thousands of them now al
SI5. $50 and S25.
All sizes from youths 32 tc
big mems 81 chest.
New-York tribune., 1913-07-30

as 70 the per cert bonds which they
had eliminated from the Glass bill, 10
the composite bill. or the one now pend
ing in committee Every one OF the
seven thousand national banks in the
country is capable Of exercising good
business Judgment, and will apply thdt
judgment 10 any currency measure WhleA
the government may enact. II was IN
evltabIe and ought to have been easily
foresecn by the parties responsible there
for that the proposed legislation at
Washington could have no other effect
than to depreciate the price OF these
bonds Small wonder that some banks
may have sought TO limit their loss oy
selling when they could get par, or ap-
proxmately par. for the same.
In view of the above facts the Sec
retary's statement I'm his prepared article
that nothing had occurred TO impair the
value Of the , per cent bonds, will bear
revision
New-York tribune., 1913-07-30
Out of Town Selling Orders.

Officials Of the National city Bank said
that the recent decline i'm the value OF
government bonds was due almost en-
tirely To out OF town banks. The Ma
tional city Bank has several orders on
it's books from correspondents 10 sell
government bonds on the Stock EN-
change. but their asking prices are gen
orally above the present bid prices.
The National City Bank does not own
any government bonds now. What 1t
needs to secure it's national bank note
circulation it borrows from savings banks
and private investors. paying them from
To ~ per cent. This institution sold
these bonds several years ago, al mHch
above the present levels, di~poSng OF
about 100000 around lC6 and lo'
Up 10 the close of last week only $S2"'
of the United States registered > per cent
bonds Of 1890 changed hands on the Stock
Exchange since the Introduction into
Congress of me Owcu-Glass measure. NJ
that time the bonds We're quoted around
PAR: yesterday a block of $500" sold "t
81. and were selling privately at 95'' TO
q5is. The record high price for this issue
was made in 1892, when the bonds touched
1tg-.
New-York tribune., 1913-07-30
Sees Ruse to Win Radicals.

THE government is engaged in a deli
cate and difficult task in seeking to revise
its credit and currency system" said the
chairman Of the Chase National, "and IS
entitled 10 great indulgence and support
so far as the proposition il may eventu-
ally bring forth may be worthy Of sup
port The main difficulty which the ad-
ministration at the present time is en-
coTntering is with the extreme radicals
of its own party. If Secretary McAdoo
can create the conviction that Wall Street
is opposed 10 the pending currency meas
ure that may prove a conclusive reason
why these radicals should support the
bill can see no other object in his is
suing the statement. for the statement
will not help the cause for which he
pleads throughout the country
While I am not disposed TO he critical
and believe that one should await the
completion Of the administrators cur
rency measure before making up his mind
in regard to the same, nevertheless the
Secretary's statement justihes calling at
tention to the facts.
The government. i'm the eXigencies Of
civil war; and 10 make a market for its
bonds, thereby enabling il TO raise funds
with which to prosecute said war, created
a currency monopoly in its own interest
and made its own bonds the sole basis
upon which such currency could be issued.
This measure not proving sufficiently
efflcacious. and state bank circulation con-
tinung TO serve the public in the major
degree. Congress imposed a 10 per cent
tax upon state bank circulation. thereby
forcing the same out Of existence.
This snug monopoly has ever since
been maintained, and by means Of this
monopoly the government has been able
to sell 10 the banks bonds bearing per
cent interest at a price at least 30 per
cent above their investment value. realiz-
ing as high as 107 for some issues. These
bonds were selling at about 1OOla TO 1O1
at the time Secretary McAdoo assumed
office
New-York tribune., 1913-07-30
CURRENCY T|NKERS THE
PLOTTERS, SAYS BANKER
a. B. Hepburn Asserts PurpoSed
S5OO,OOO,O00 Issue Has
Depressed U. S. Is.
ABNORMAL VAL UE REMOVED
Circulation Privilege Made
Them Desirable - Thinks
McAdoo Is After Vote
of Radicals.

\. Barton Hepburn. chairman Of the
Chase National Bank and president of the
New York Clearing House Association.
made a spirited reply Yesterday to the
charge of Secretary McAdoo of the
Treasury Department that certain power
ful New York banks were using their in
fluence to depress the price Of the gov
ernment 2 per cent bonds on the New
York Stock Exchange 10 defeat the new
currency bill Mr. Hepburn made the
counter charge that if there was a con-
spiracy 10 depreciate the price Of these
bonds il was on the part OF the govern
rnent officials at Washington, who We're
responsible for the currency bill in its
present form.
The decline in the government per
cents of 1890 was due. Mr.. Hepburn said,
to the purpOsed issue OF $5n00oo0o0 cur
rency in addition to the 500 10000 already
taken out by the national banks under
their holdings of these per cent bonds.
which they We're forced to hold as Sc
Curity. AS there was no provision in the
bill as originally introduced for the re
demption of these bonds. Mr.. Hepburn
said, II was Inly natural that they should
depreciate.
Mr.. Hepburn asserted that the govern
rnent had maintained a currency monop-
oily since the Civil War. and as a result
had been able to sell , per cent bonds 10
the banks at a price at least 80 per cent
above their investment value. realizing as
high as 1O7 for some issues
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-08-16
CLAYTON GETS APPOINTMENT.
GOV. O'NEAL NAMES CONGRESS
MAN FROM ALABAMA FOR
HIGHER BRANCH.
He Leaves at Once and VIII Present
Credentials To the Senate but Re-
tains Seat i'm the House.

Montgomery, Aug. 12.-Shortly
after O'Clock this afternoon Gov.
O'Neal announced the appointment of
Representative Henry ID. Clayton TO
the United States senate, to fill the
vacancy caused by the death of Sem
ator Joseph FOrney Johnston. Mr..
Claytons' commission was delivered
to him in the governors office. The
ceremony was brief.
Mr.. Clayton accepted the appoint
ment and announced that he would
leave tonight for Washington to pre-
sent his credentials to the senate. He
said he would not resign his seat in
the house until he is seated in the
senate.
Gov. O'Neal after naming Henry
d. Clayton as United States senator
TO succeed the late Senator Jos. f.
Johnston, tonight issued a signed
statement in which he shows the au-
thority under which he acted in filling
the vacancy in that manner.
The statement recounts the election
Of Senator Johnston for a term of six
years prior to the adoption and ratif-
cation of the 18th amendment, and
mentions the fact that numerous at
torneys of standing and ability have
been conferred with. He pays a high
tribute to his appointee and admits
that he recognizes a very grave con-
stitutional question is presented about
which eminent lawyers differ.
IF l ordered a special election, un-
der the laws of Alabama" the gov
ernor says, from 40 to 60 days would
necessarily elapse before the election
could be held, and it's results ascer-
tanned and the State would incur a
very large expense. If an extraordi-
nary session of the legislature was
convened it would necessarily require
! considerable time before proper leg
isladon could be secured. In either
of these contingencies the State of
Alabama would be deprived for a
considerable period Of time Of it's
right to equal representation in the
senate, it's right to have an equal
voice with the other sovereign States
of the Union in determining import
ant legislation now pending.
Il have not reached this conclusion
without having given the matter Sc
rious thought after consultation with
many of the most eminent lawyers
and judges of the State, who prac-
tically Unanimously agree with me in
the conclusion l have reached, that
the executive has the power to fill
this vacancy by appointment"
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-08-16
LITTLE INTEREST IN DISPEN.
SARY.
Change of Sentiment at MaycsyilIe--
Cotton Doing We'll.

Mayesville, Aug. livery little in
terest is being taken in the dispensary
election on next Tuesday. Some
months ago, at town meeting, a ris.
Ing vote was taken on the question
and nearly everyone in the hall was in
favor OF re-cstablishmcnt of the insti-
tuition. However, since that time there
has been some change of sentiment
and the town will hardly go for the
dispcnsary with as large majority as
then. The financial condition of the
town Will no doubt cause many to vote
for the licensed sale of whiskey for as
1t Is now, there is little or no revenue
coming from the sale, which is being
carried on to quite a large extent
hereabouts. The non-enforcement Of
the prohibition laws will undoubted-
ly have something to do with the vote
on next Tuesday
Cotton is opening rapidly around
this section and picking will be i'm or
der next week on most Of the farms.
The crop has improved wonderfully
within the past few weeks and al
though some of the planters have
rather poor stands, yot the yield will
be fair. ~ good many of the farmers
are busy thrcshing oats, of which
there was an unusually large crop
made this season.
The tobacco warehouse continues to
hold good sales nearly everyday and
the prices paid are remarkably good
Those who planted this year are we'll
satisfied and will plant heavier next
year, and good many more will cul-
tivatc the weed.
Rev. j. IL. Mayors OF the Baptist
church is holding series OF services
during this week
Rev. II. l.. Gricr and family have
and other points.
Mcsdames Il. w. Maycs, ]. r..
"''"' anu w - Nndnulcr spent a
day or two at Blue Springs last week.
Mr. and Mrs. II. 4. Chandler have
returned from Columbia, where the
former was operated on at hospital
there.
large number of citizens are at
the springs while few have returned
home.
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-08-16
SOCIAL AFFAIRS AT HAGOOD.
Miss COurtenay Atkinson Entertains
for VisltOrs-AtllinsOn Plantation
Much Improved.

Rembert, Aug. 11.-Mss COurtenay
Atkinson entertained at home most
delightfully."- last Monday evening in
honor Of her friends, Misses Annie
McLaurn of Mccall and May Willis
OF Florence. After pleasurable enter"
tainment in music and a variety OF
games, refreshments were served.
Among those present were Misses
Emma and Christine Davis Ethel AL
len, Theresa Sanders, Mollie Ellerbee,
Maud Chandler, Viola Spencer, Mrs.
M. A. Young and Messrs. Leland and
Percy Myers, DR.. Alge AlstOn, Hey
ward Chandler, Ollie Thompson, Will
lie and Eugene James, Robt Rembert,
Sylvester Allen, Parker Sanders, Rich
ard Mckay, tom" and Isham Moore
and Edward Mobley.
On Tuesday evening Miss Ethel AL
len entertained, serving ice cream and
cake. The following were present
Misses Courtenay Atkinson, Annie
McLaurin, May Willis and Viola
Spencer, Messrs. sylvester Allen, Wal
ter Harllee, Hayward Chandler and
Robt. E. Atkinson.
Crops were never finer here it seems
than now, especially corn. Mr.. Robt.
e. Atkinson at considerable expense
drained those bottoms lying between
the Borden road and big Rafting
Creek, stumped and thoroughly broke
them, planting them in corn. What
are the results? A plantation almost
entirely free from mosquitoes and
malaria, finer crops OH all surround
ing lands, more than twice as much
corn than he ever made, the general
health of the plantation greatly i'm
proved, the surroundings rendered far
more presentablc. His neighbor's
lands as well as his own are helped.
One of his wells went dry and had
to be sunk deeper. This is written
to provoke others to good works. We
hear good reports OF crops all
around, in fact as we rolled in past
Dixie the other day, looking out OF
the car window we recalled "Dixie's''
land is a land of cotton, simmon seed
and sandy bottom"
Misses Annie McLaurin of McColl
and May Willis Of Florence, having
! concluded their visit to Miss Courte-
nay Atkinson, have returned home.
Mr. RObt. l.. Atkinson has gone to
Glenn Springs for his health. His
many friends wish him much i'm
provement.
"HagoCd."
The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1913-08-16

make arrangements to purchase coal
at the present time for future delivery
He was also instructed TO keep a sup
ply at the water works plant in case
anything happend to the electric
pumps and the steam pump had to
be used.
completed on Council street at cost
of s27.
He stated that gas arrange
ment could be placed in the fire house
at "A cost of about $3.50, which would
reduce the cost OF keeping steam up
in the engine boiler about $40 per
month.
He also reported the Oakland ave-
nue. sewer extension completed.
Mr.. Worthington wanted further
instruction as TO how TO proceed i'm
the repairing OF the water drains un-
der the sidewalks, a number of which
were out OF repair. He stated that
several property owners had instruct
ed him to go ahead with the work
and they would pay for it. lie was
instructed To prepare written con-
tract and secure the signature OF the
property owner and then proceed
with the work as directed under a
previous resolution of council.
\ resolution was passed instructing
the city clerk TO pay over TO the rae
ing squad Of the fire department $l25
TO pay their expenses 10 the Firemcn's
tournament at Wilmington, the same
to be returned from any money that
the boys may win in the contest.
\ letter as to conditions on the
Reardon lot was read. in which il was
stated that the matter would be TAX
en- mp to the state Board Of Health.
II the town did not prevent the furth-
~ dumping of garbage on the lot.
\ large number Of bills were eone
over and ordered paid.