davidaulloa/AmericanStories huggingface dataset:
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Atlanta to Front in
Boston A. B. A. Meet
Bios for 1914 Convention, and Has
Member of Currency Commits
sion in Delegation.

Unless President Wilson succeeds
in making the Senate move much
more rapidly than il has shown any
signs Of doing. currency reform will
still be an open question when the
American Bankers Association holds
its annual convention in Boston, begin
ming October 8. This means that the
discussion Of the Owen Glass bill,
which has heretofore been confined to
committees and conferences, will
come before the entire membership
for the first time and will overshadow
other questions before the association.
Joseph NcCord, of Atlanta, will
take prominent part In the discus
sion. as he is a member of the cur
renCy commission. Atlanta will send
q strong delegation, as 1t is bidding
for the next convention.
The program for the convention has
Just been announced by the secretary.
Colonel Fred T. Farnsworth, who was
in Atlanta last week, and at the open
ing session Of the convention October
s, following two days of committee
and section meetings, A Barton Hep
burn will present the report of the
currency commission. of which he is
chairman. A general discussion viii
ensue, led by members of the COM
mission.
Another important matter that is to
come before the convention is gen.
eral revision OF the associations con-
stitution, on which a committee has
been at work
Joseph Chapman. vice president Of
the Northwestern National Bank of
Minneapolis, will report for the com
mittee on agricultural development
and education. Among other speak
ers. James J. Hill will deliver an ad-
dress on Agriculture in the United
States" and DIT. George E. Vincen5.
president Of the University of Min
neSota, will follow with an address on
The Tendency Toward Practical Ed
uCatiOn."
William J. Burns Of the William J.
Burns National Detective Agency, viii
address the savings bank section. In
the clearing house section Carl Mey-
er, Of Chicago, viii read a paper on
The Incorporation of Clearing
Houses" An address on Extension
Of Clearing House Examinations" be-
fore the same section Is also SEIZED
uled. but the speaker is still to be
announced.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Government Provided With Ample
Safeguards Against Loss by the
Failure of Borrowers or Banks.
Market for Short-Term Notes.
BY ROBERT L. OWEN
Senator From okIahoms.)

The Federal reserve banks
lSec. - are given the power
to deal in gold coin and bullion,
both at home and abroad, to
make loans thereon, and TO con
tract for loans Of gold coin and
bullion, giving therefore when
necessary acceptable security, in
Guiding the hypothecation of
United States bonds.
The obvious purpose OF this is to
enable these banks 10 protect the gold
reserve OF the country. But they have
the further power
''to invest in United States bonds
and bonds issued by any State,
county, district OF municipality"
and obviously with these securities
they could also obtain gold to pro-
tcct the gold reserve Of the nation
and of their own banks.
But they are further given power
ITO purchase from member banks
and to sell, with or without it's
Endorsement. bills OF exchange
arising out Of commercial trans
actions, as hereinbefOre defined,
payable in foreign countries" Cthis
ought 10 include domestic eN-
changes also), but such bills Of
exchange must have not exceed
ing go days to run and must bear
the signature of two or more re-
sponsible parties, OF which the
last shall be that Of a member
bank"
II is obvious from this power that a
market is Immediately created for
foreign bills Of exchange land II ought
TO include domestic bills as weuD
And Il has further power
''to open and maintain banking
accounts In foreign countries and
establish agencies in such coua-
tries wheresoever II may deem
best for the purpose OF purChas-
ing. selling and collecting for
eign" Ot should be or domestiC)
bills Of exchange and to buy and
sell through such correspondents
or agencies prime foreign bills of
exchange arising out OF CONNER
cial transactions which have not
exceeding 90 days to run and
which bear the signatures OF two
Or moro reapOnSibIe partieR,"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
How Note Retirement
Is Expected to Work.

When these notes are paid they
viii be paid at the counter Of the
member bank, and will be sent there
Tor collection, and when the returns
are RENTED and the reserve bank
paid, the member bank will be
credited with the returns on the loan
previously made the member bank.
ana the reserve bank will repay
to the Federal reserve agent the
Treasury notes previously borrowed
on such paper. The Treasury notes
thus retire from circulation.
Doubtless In ordinary practice. as
the member bank would draw down
certain notes for collection and pay
ment 1t would substitute other notes
OF like character in lieu Of the notes
maturing, and In this way always
Keep an adequate margin and accent -
ances of a qualified class as security
in the hands OF the reserve bank, and
the reserve bank In like manner
would keep a like adequate security
in the hands OF the Federal reserve
agent Just as Is now done In the com
mon banking practice Wher a note
about to be paid is replaced by an
other note OF like or greater value.
If the Federal reserve bank de-
sired. II could sell these notes with
out Endorsement to banks having
idle money, and in this way a market
would be built up for commercial
paper which would be Of the great
est value In enabling the manufac-
turers, merchants and business men
of the country TO market their
credits upon the Endorsement Of
their home bank. In this way aC-
commodation could be furnished to
farmers against agricultural prod
uCts. to manufacturers against manu-
featured products. to wholesalers and
brokers against merchandise in tran
sit, and the rate of discount in all
Of these cases would be fixed by the
Ep1aral Reserve Roar
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
MEATS COSTLY
ELSEWHERE AS
WELL AS HERE
Whitcomb Company Tells How the
Packers Are Importing Beef
From Across Equator.

Part, at least. Of the high cost Of
living is not due to causes in any way
peculiar to Atlanta, but TO conditions
which are Of national and even in
ternational scope" remarked w. NJ.
Burke, Of the II. H. Whitcomb K
Burke Co. grocery brokers. No. 149
Madison avenue.
1T may be true that meat prices
in Atlanta are higher than in any
other city except Boston, as the Gov
eminent report indicates. ! do not
know the answer to that But meat
prices, all the way from Bangor t.
Seattle and between. are too high The
reason Is scarcity of cattle.
Take Libby, Mcneil & Libby as
examples. The firm is unable 10
make full deliveries of its canned
products just now, simply because it
can not get the raw materials in suf-
1cient volume. Other ackers are in
the same plight.
The shortage is so acute that It
now is profitable to import fresh beef
AAOiAA ~ s tllNAlld anu AuSNAdAld- l1lu-
by's now are bringing large quaint
ties from South America
Between 100000 and 100000
pounds Of fresh beef, practically lll
from Australia and Argentina, en-
tered the United States in the last
three months, indicating that he To-
tai for this fiscal year will exceed
100000 pounds.
Prior to 1912 the importations Of
fresh beef averaged about one-third
Of a million pounds per annum.
The import prices range from ap-
proximately cents to 10 cents per
pound, the average having been from
Australia SO cents per pound, from
England 9.6 cents per pound. These
are the figures of value in the coun-
try from which the beef is sent to the
United States, and do not include the
cost Of transportation or the tariff Of
IL cents per pound"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Federal Sugar Go,
Faces Publicity
SpreckeIs Must Disclose Financial
Situation of Concern or Have
Stock Wiped Of List.

NEW YORK, Sept. 20.-Claus 4.
Spreckels' Federal Sugar Refining
Company securities will be stricken
from the New York Stock Exchange
il the company does not file with that
institution an annual income state
ment and balance sheet long overdue.
This violates one Of the agreements
entered into with the Exchange when
the stock was listed in May, 1910.
SpreCkels, II is understood. promised
on April ] . to publish an annual re-
port The company distributed TO
shareholders what purported 10 he the
yearly report, but il did not contain
the statements desired by the En-
change.
Mir. Spreckels finally said he would
like 10 have the $3,322,So preferred
and $6.677. 200 common shares remov-
ed from the list.
As the sudden removal Of the shares
from quotation might result in f1nan-
cial injury to stockholders who had
purchased them because they We're
listed. and to protect people who might
have some Of the shares UP as collat-
eral for loans the Listing Committee
refused 10 throw them or, despite the
statement by the Federal that o. per
cent Of the shareholders We're in favor
Of such action.
When the stockholders hold their
annual meeting they viii be asked TO
vote upon the question.
Stock of the Goldneld Consolidated
Mines Company was stricken from
the Stock Exchange list last June for
refusing 10 comply with the publicity
rules That was tho first time such
action was taken.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Open Market Provided
For Exchange Bills.

Under this power there is an open
market provided for handling bills OF
exchange and making available fol-
American use, or establish foreign
market for such bills Of exchange. and
obtaining money at low rate of in
tercSt
Under Section Il, any Federal re-
serve bank
Upon the Endorsement OF any
member bank may discount
notes and bills OF exchange arts
ing out Of commercial transac-
tions that is. notes or bills Of
exchange issued or drawn for ag-
riCultural, industrial or CONNER
Cial purposes. or the proceeds Of
which have been used or may be
used for such purposes the Fed
eral Reserve Board to determine
or define the character of such
paper This paper must be Of
short fixed maturlty-not more
than 30 days"
IL is obvious that there IL no limita-
ton upon this discount power. ex.
cept that the reserve bank must keeE
S3 Ia per cent gold or legal tender
against its demand liabilities
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

eral security for loans extended to the
member bank. They would be put in
the collection portfolio Of the reserve
bank. II the reserve bank wanted 10
get Treasury notes on these bills Of
exchange and aCCeptances, II would
place them in the custody or under
the control. Of tho Federal reserve
agent located in the Office Of the re
serve bank, and he would pay the re
serve bank Treasury notes in ex-
change for like volume Of these
commercial bills of exchange and &C
ceptances which he. Of course, would
r,aEq on
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
PUBLIC IS BEING
ATTRACTED To
COTTON MARKET.
Lack Of Leaders Only Prevents
Lively Bull Campaign-Fancy
Spots at Sixteen Cents,


NEW ORLEANS, Sept Gothic
rains RECENTLY reported ina the western
belt which CAUSED ID declining tn
u,n.y Zoe the market last week now
have turned out fa Doe "a bu'rsh arEu-
m.nt a- tno continued precipitation
has resulted .u considerable damage
90 fH. open cotton Iu that section
Reports of cotton surouting in me
HoI us 80 result OF continued and *
,u--iyD moisture AT. coming in from
Texas and Dl fHuma. $50 that i would
seem the injury done to che crop b.
the ar0ufa is being C1mula,,d by he
prolonged spell Of wet weather
Liverpool bad been rather inGifcr-
,ut t1 Oh, reports of damage 10y rains,
INIT WAS DurmIug this week, and ca
Die. receive. from leading Liverpool
houses stated that the advance ON
that side had been caused 10y unfd -
yorahIr CROP news from Texas and
Arkansas Speculative buying on a
large seal. was reported to De q ic1-
sur. of the trading in the English
market and iu this market also spec
NATIVE buying recently has been OF
larger proportions than for many
months past
Wcr. 10 NOT tnr the uncertainty re
gIrdug On. outcome of the anti-Op-
tiuu legislation now uynding IN Wash
iugton q bull campaign Of the first
magnitude would undoubtedly be on
iu New orleans and New York; as II
IS. leading long interests are afraid to
commit themselves too heavily on the
bull side fearing a body blow tn the
market from Washington
Scalp the Market
Consequently. the bulls with a sit
uation which points to a much higher
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Uniform Freight Car
For All Roads Urged
Santa Fe Head FaVors Equipment
Company Owned by Lines, Civ
Ing Impartial Prices.

A uniform standard Of freight car
construction for all railroads in the
United States is suggested in a let
ter written by L. P Ripley. president
Of the Atchison, Topeka and Santa
Fe Railroad, to W. E. Msgray. pub
fisher OF the OFFICIAL Railway List.
MIR. Ripley says another railroad
man purchased cars for 5000 each
while Mr.. Ripley paid S1.40O. He
says the other man admitted the cars
of cheap construction might endan-
ger trains Of other roads, but that he
would get the better OF the deal
whenever he secured the use OF a
good car Tor a cheap one.
Mr.. Ripley suggests the establish
ment Of freight car equipment
company, its stock to be owned by
the railroads
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Senator Owen Explains Currency
+.+ +.+ +.+
How Banks VIII Handle Paper
+.+
Federal Reserve Assures Safety
Author of the Measure
Clears Obscure Points.

Just how banks will go about
their desIings with the new Fed
eraI reUerse banks is a question
Of keen interest TO bankers and
also 10 the mercantile comnu-
nifty.
The handling Of commercial pa
per under the Owen Glass cur
rency bill is a point on which en-
lishtenment has been sought re.
peatedly.
Senator Owen, who was bank
er, and who is Chairman Of tho
Senate Committee on Banking ard
Currency, has, on the invitation Of
The Sunday American, prepared
a careful explanation.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Ne1Os of Finance, Industry, Crops and Commerce
Battle Raging for
Financial Throne

All unknown to the public q
battle is raging for the financial
throne vacated by the late J. P.
Morgan.
His firm has had the worst Of
the first skirmishes.
The most powerful rivals have
greatly strengthened their hold
upon Americas railroads, whereas
the Morgan grip has weakened.
Following the seuttling of New
Haven, Morgan G. Co. may seek to
stand from under New York Gen.
trail. It's finances are becoming
ominously unhealthy.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
SEEN IN THE SHOPS.

wear show yoke effects at the Shout
ders. have straight plaits and are
belted at the waist They are fas-
tened at one side or in front.
Venise edgings Of the more spidery
sort are to be employed in various
ways in the fall toilets.
Beaded trimmings, combining also
silk and metallic effects on black net,
are among the strongest items in the
accessory field for the coming sea-
son.
Evening wraps In silhouette effects
have all the fullness between the
shoulders and knees. The featured
materials for them are of the soft
finished variety.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
REMINGTON TYPEWRITER co.
AGAIN PAYS ON COMMON

NEW YORK, Sept. 2O-The Rem
ington Typewriter Company has de-
Clared a dividend of l per cent on its
common stock. payable out of earn
ings for the first six months Of the
wear This is the first dividend de-
clared on the issue since 1907. The
regular quarterly dividends Of 1 ga
per cent on the first preferred and ?
per cent on the second preferred
stocks also were declared. All three
dividends are payable october l to
holders Of record September Is.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Southwestern Crops
Damaged by Drouth
Schaff, Of NJ. X. & T, Glad II Road
Breaks Even With Last Year.
Rate Cuts Costly.

NEW YORK. Sept Go. f. Schaff
president Of the NJ. X 4 T. said
The country through Kansas, Okla
homa and some parts Of Texas is bad
ly burned up. In Texas the final yield
Of corn will Approximate only $3.50, 600,
600 bushels the same as last year"
Rate reductions will entail loss OF
about $3.50 600 to the Katy" accord
ing TO MIR. Schar, who says he win be
well satisfied II results break even
with last year
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
RAINS|NJURING
OPEN COTTON;
PRICES FIRNER
BoIIs Rotting and Sprouting,
Staple Being Beaten Out, Say
Reports at Spot Market.

NIEyNTpETTc Cot On m, g,.t,.,.,..
-
'ldS ioho"e" ahoJhef. Long cT"uth
has been succeeded by excessive rains.
The cotton market. in consequence.
t,.... .t,-,,,., ,,-,,,-.,-.r ....-.t-
'''' Il 9''''' '''i'E '''
heJolclhg "hen the dFouih was
broken turned TO dIsmay when the
rains eboyco1 M Iet-1,p y-er,, soon A.
was ied''"eu tia' damage H"L III
prOvement, would result from the
downpour. The combination of drouth
s,i1,,,.,7 t,- ,,,o,.,. -, 80. 1T,
"' ''''' vas r'' ''.
IdI'N ui9dSlIouS' me "Toulh ioi'tu
the cotton open prematurely and with
a large perrentage Of tho hollis in the
"''"' open I" '"' I''''' "'"''S' ~
grade Of tho staple was inevitable.
The outcome. so far as the producer
il concerned amounts IN tho same
'"'ls' DI"u'" Hi'a'Sn'u u" N"'
short the yield. The rains offset this
10 some extent but cheapeDed the
.,-,., 5--..,.5 m .i,,-
o",.O'' '''u' "'
VIII not reduce the huihbeT OF D"l'9
materially. The famous storm year.
1906, proved this conClusively
Complaints have poured in from the
sections that have been SO heavily
drenched. The market has respond
ed readily and has stimulated bulis1
activity to a dpgre that conservative
people fear is a bit dangerous. II viii
take several DAYS after the wet spell
passes before the real situation can
he agCertained Complaints have come
here Of bolls rotting and sprouting,
as well as of open cotton being beat
on out. In those sections where
growth had not been practically
stopped by the drouth there will he
an added growth that will require
late frost IL much fruit is not to be
nipped
Weevils Are Buster.
In the sections that have the weevil
increased activity by the pest is re-
norted and the weevlls will get praC-
ticaUv all the late Truiting Whe"e
they are so numerous.
The effect of the changed aspect q
the yield situation. although Il is
inst as difficult as ever TO get an aC-
curte line on what the trade thinks
the crop will be. has been to make
he snnt drnartmont of the market
ronDIax idaas are SITTER as to the
higher grades and some increase in
premiums thereon has been noted
proenect If Washington legislation
nroviding for the adoption of Gov
ernment standards and the limiting
81 contract deliveries to a few grades
and those with ruling commercial
differences has been n factor Of
strength i'm the contract market. Such
n low would no REGARDED rs buIlfsh
esnecialIv If there is tn be big pro
portion Of low grades this season.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

There will be plenty of fun on the mid
WAY, b" for some of the best shows in the bust
ness have been secured for this great event.
There will be the very best of the profession
on the MIDWAY" and each and every show
will be Clean and Moral.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
NEW OIL MILLS.

Owing IL the good demand for cot
ton oil products in the past year
many new mills Of small capital are
being built in the Middle Gull and
Southwestern stat
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
GIVE PRICES FREE

Business men Of Terrell, one Of the
earliest cotton counties of Texas. are
operating a cotton exchange TO fur
nish current quotations free.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

There will be more AGRICULTURAL Elk
HIBITS than were ever at the State Fair be-
fore. Each County is trying to Guido the 9TH
er, and the exhibits will be regular exposi-
tion of agricultural resources
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

The LIVE STOCK SHOW will be the best
ever held in the State of Georgia The finest
lot of Beef and Dairy Cattle in the World will
be on display.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
NEW GOLD FIND CONFIRMED.

Mr.. George Black Canadian com
missioner Of the Yukon. has wired
10 the Government confirmation Of
the reported discovery OF gold in
Alaska, CLOSE to the Canadian bound
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

The Greatest Concert Band in America
has been engaged for the State Fair If YOU
have not heard 'SARACINA'S BAND" YOU
have missed treat. This band has starred all
over the country and played to Standing
other bands on the MIDWAY"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

The Manufacturers Building will be COM
plete with many fine exhibits of Manufac-
tured goods. Some of the displays will cost
hundreds of dollars. This part of the State
Fair should not be neglected. Show the Bows
and Girls of Georgia what we make.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21

$4,000 in Cash Purses and Premiums for the
finest trotting races ever held in Georgia.
$4,000 in Cash Premiums for exhibitors.
The Barre daily times. (Barre, Vt.) 1897-1959, 1913-06-24
WILLING TO PAY FOR TRIPOLI.
Italians Have Not Yet Tired of Paying
100000 Day for Conquest.

New York, June PA special to the
Sun from Rome declares that despite the
opposition from the Socialists, Parlia.
ment recently voted $20,000,O00 for the
occupation at Tripoli and Cyrenaica.
Most of the 10000 men now in Libya,
as Italy has renamed the country, are
concentrated in Cyrenaica and are pre-
pairing for vast sweeping movement.
The occupation of Libya is still costing
that country 100000 day. but the
war enthusiasm is not dead. The pre-
mier had no trouble in overcoming the
opposition to the appropriation. He de-
elared that the Socialists wanted the
government TO abandon Libya and sac
riice all the benefits derived from the
war The money was thereupon voted
with much enthusiasm. Signor Bisso.
lati, the Socialist leader, pointed out
what he termed was mistake in the
governments policy. He said that the
entire actual occupation of the hinter-
land was useless. Numerous garrisons
for continued fighting would be needed,
as the natives would never accept the
rule of Italy. A better plan,
he said. would be to permit tribal rule
under Italian sovereignty, with oeca
sonal punitive expeditions if necessary.