davidaulloa/AmericanStories huggingface dataset:
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 Senator Robert L.
Owen.

The Federal reserve banks
(Sec. 49, 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. y
The obvious purpose Of this is to
enable these banks to 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 or municipality"
and obviously with these securities
they could also obtain gold to pro
tect 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 its
Endorsement. bills Of exchange
arising out of commercial trans
actions. as hereinbefOre defined,
payable in foreign countries" (this
ought to include domestic eX-
changes also), but such bills of
exchange must have not exceed
ing 90 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
market is Immediately created for
foreign bills OF exchange (and it ought
to include domestic bills as webb.
And II has further power
Ito open and maintain banking
accounts In foreign countries and
establish agencies In such coun-
tries wheresoever II may deem
best for the purpose OF purchas
ing. selling and collecting for
elgn" ct should be or domeslcD
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 80 days to run and
which bear the signatures Of two
or mora ragpopa{ble r,a rifles"
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 viii repay
10 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 paw
meni II would substitute other notes
OF IKE charcter 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 like adequate security
in the hands of the Federal reserve
agent just as is now done in the COM
mon banking practice wher note
ABOUT 10 be paid is replaced by an
other note Of Ike or greater value.
II the Federal reserve bank de-
sired, it 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
Federal Reserve Board
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 des lings with the new Fed
erai re,erve banks is a question
of keen interest to bankers and
also to the mercantile commu-
nifty.
The handling Of commercial pa
per under the Owen. Glass cur
rency bill is a point on which en-
Iightenment has been sought re-
peatedly.
Senator Owen, who was a bank
er, and who is Chairman Of the
Senate Committee on Banking ard
Currency, has, on the Invitation of
The Sunday American, prepared
careful explanation.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
NerOs of Finance, Industry, Crops and Commerce
Battle Raging for
Financial Throne

All unknown to the public
battle is raging for the financial
throne vacated by the late J. P.
Morgan.
His firm has had the worst Of
the first skirmis hes.
The most powerful rivals have
greatly strengthened their hold
upon Americas railroads, whereas
the Morgan grip has weakened.
Following the scuttlins of New
Haven, Morgan & Co. may seek to
stand from under New York Gen.
trial. Its finances are becoming
orinously unhealthy.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
FRISCO AGENT is ABLE
TO PAY ON ROADS NOTES

c. w. Hinard financial representa-
tive in New York for the receivers of
the ST. Louis and San Francisco
Railroad said he has been authorized
by the receivers TO announce that
they viii shortly make application to
the court for authority 20 make pay
ments on Frisco Construction Com
account Of principal and S65,975 for
interest. These payments fell due
September l.: also $4,000 on ac-
count Of principal series B notes and
s53,425 interest These payments viii
be due September 10 on the two Sc
-ies. The total 10 be disbursed will
oe 1851, 400.
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 I per cent on It's
common stock, payable out Of earn
ings for the first six months of the
year This is the first dividend de-
clared on the issue since 1907 The
regular quarterly dividends of l 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

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 to
get Treasury notes on these bills Of
exchange and acceptances, It would
place them in the custody, or under
the control Of the 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 ac-
ceptances which he. of course. would
mss
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Southwestern Crops
Damaged by Drouth
Schaff. of NJ. x. & T. Glad if Road
Breaks Even With Last Year.
Rate Cuts Costly.

NEW YORK. Sept &c r Schafr.
president of the NJ. X & 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 $4,000. 70
GOO bushels, the same as last year"
Rate reductions viii entail a loss of
about $4,000 TO the Katy" accord
ing to Mr. Schaff, who says he will be
well satisfied II results break even
with last year
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
SEEN IN THE SHOPS.

Separate coats for women's fall
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

There will be plenty of fun on the mid
Way 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 to the good demand for cot
ton oil products in the past year,
many new mills of small capital are
being built in the Middle Gulf and
Southwestern States,
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-
ton of agricultural resources.
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
GIVE PRICES EREE

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

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
Room Only" houses. There will also be four
other bands on the MIDWAY"
Atlanta Georgian. [volume] (Atlanta, Ga.) 1912-1939, 1913-09-21
Nav COLE EINp 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
airy.
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.
Norwich bulletin., 1913-04-07
DANRuRY POSTMASTER
 HAS VERY CLOSE GALL.
Train snasnes Auto, But Family and
 Friend Escape

Danbury, Conh., April 6-Pestraas- ter Frederick B. Cfofutt, his wife and daughter, Miss Marion, and a. friend, Mrs. Franklin Clark, had a miraculous the grade crossing at Mill Plains, four miles from here. this afternoon, MT. Crofutt found himself upon the tracks bile from a trip te Brewsters. N. Y, tracks at the Mill Plains crossing is partially obscured by a house, and MF. Crofutt found himeslf upon the tracks before he saw westbound freight a.p- preaching at a rapid rate of speed.
 MT. Crofutt, seeing that he could not cross the tracks in time, swerved his machine sharply to one side, just barely grazing the train. The auto plunged over the cattle guards, along side 8 steep embankment- While the party was recovering It's composure from their narrow escape, the mem bers of the freght crew shouted 8 warning. Looking backwards MT. Gro futt saw, to his dismay, that another freight was apDroac ching from the rear. on the same track his auto was on. He and his wife and daughter hastily scrambled up the embankn1ert~ while Mrs. Clark elected to try and cross tha tracks. She crossed one track in safs- ty, only to find that she was obliged to stand between the two rapidly nov ing trains The eastbound feright pass ed by within a few minutes. however, and Mrs. Clark nearly collapsed un- der the strain
 In the meantime the other freight had struck the automobile and smash ed 1t to snithereens. A part of the was found later in a nearby yard.
 The entire party escaped without a scratch, but suffered considerably from fright A number of fatal accidents have occurred at the crossing which is totally unguarded
Norwich bulletin., 1913-04-07
MEMORIAL SERVICES
 FOR J. P MORGAN Held in Church of Which He Was Vestrymsn for 45 Years.

New York. April e-Memorial ser vices for the late J. Pierpont Morgan were held today in St. Georges Prot estant Episcopal church of which he was for forty-five years vestryman and In which his funeral is to take place, probably on April IA. Each worshipper found in the rack before him q church bulletin recording the death of MT. Morgan, who was a reg ular attendant at the church and took an active part in it's services. one of his accustomed duties being the pass ing of the collection plate. The pew that he frequently occupied, although all the pews in the church are free, was filled today with strangers.
 Mr. Morgan's favorite hymn, B1est Be the Tie That Binds, was not on the days musical programme. but hymns of which he was fond, including Near CT My God to Thee. were sung by the congregation, while the choir sang the anthem Let Not Your Heart Be Trou- bled. The rector, the Rev. Dr. Karl Reiland. euiogized the late flnancier in the sermon.
Norwich bulletin., 1913-04-07
Motive Not Discovered.
INCOMES NAME PRESENTED
 TO PRESIDENT WILSON
Connecticut Democrats Pay Nisit to
 the White House.
fsnectaI to The BuIletin.) )

Washington, April GA delegation consisting of Representatives Dono- xan and Reilly, Hon. Homer Cumming of Stamford, member of the nauona1 democratic committee, George Forster chairman of the Connecticut state democratic committee, and state sen ator SpeIIacy of Hartford called at the White House Friday and presented the name of Thomas F. Noone of Rock vile as the choice of a majority or rns con ueressionaI delegation and the party leaders of Connecticut for the vacancy m the federal bench for the district or Connecticut
 Mr Cummins acted as the spokeE- man for the delegation and he present strong and emphatic language. They were well received by the president ard were directed by him 10 nIe at the department of justice their recon mendatio3s and arguments
 In the afternoon they called on the attorney general with whom they nled tJae recommend ation- It is understood that Congressman Lonergan and Ma han will call at the department ths first of naxt week and add their en- q eorsasnents to those already on file in favor of the appointment of Judge Roone.
 When asked if recommendations had heed made for other federal officers 1n the state Representative Reilly said that he did not expect action on ths fudgeship matter for several days, and until that was out of the way no ether nominations would be submitted to the president. He d1d not think tha opoosstion to the appointment or NE. Noone would amount to much and ex- Dresssd the opinion that he would be appointed within short time.
Norwich bulletin., 1913-04-07
1Wenty-1 Co
 Down With Ship
GERMAN VESSEL CAPSIZES OFF
 OREGON COAST.
CAUGHT BELOW DECK
Voice Heard on Wreck Gives Rise to Hope That All May Not Have Per-
 ished-Fast on Reef Since Feb. 13.

Bay City. Ore. April 6-Twenty tw 0 men, including the ships captain, the President of a wrecking company of Portland and the representative of the the hold of the German ship Mimi which capsized off the beach here early today after having been hauled off a reef on which she had been fast two known. Figures were seen on the bot tenn of the wreck at dark. It is sup posed they had cut their way out.
 On Reef Since Feb. 1a.
 A heavy sea was pounding the wreck and life savers refused to attempt 8 rescue until it calmed. They said no boat could be launched and refused to let volunteers take their boat
 The life savers are camped on the beach tonight, watching for a chance to reach the wreck.
 The Mimi, in ballast for Valparaiso Feb. f3 last
 All We're Below Deck.
 She was not seriously injured and the underwriters contracted with Charles s. Fisher of a Portland con stfuctlon company to float her. Fish CT, his secretary and seven triggers. Capt. W. Fl. Grove, representative of the underwriters, Captain Westfall of the Mimi and eleven of his men were aboard the ship when she capsized. All were below deck when she turned over, it is thought, as no bodies or survivors have reached shore. Life Savers Unable. to Reach Wreck.
 The Mimi was hauled off the rocks at high tide last night It was de- termined to take her to deep water at once, and she was at anchor off the beach when the rising wind and sea Whirled her over.
 Life savers fought all day to oh her without success. After they had given it up and as dark was falling the men on the wreck's bottom ap- peared.
 Hull Liable to Sink.
 Seas were sweeping the wreck at dark. Wreckage was seen and it was feared she was breaking up. Whether the men aboard can hold on until the sea aba tes and the life savers reach them is 3. problem. The hull is low in the water and may sink from sight when the tide rises.
 Voice from, the Wreck.
 The life saving crew made an att tempt to reach the Mimi tonight. The boat got close enough to hear voices on the wreck. One voice in the dark ness said:
 We are all here
 Then the sea swept the rescuers back. They will go out again at dawn.
Norwich bulletin., 1913-04-07
Ex-cAsHIER ADAMS
 IS STILL CROOKED
Convicted Now of conspirins ts ceun-
 terfeit United States Money.


 Seattle Washn., April 6.-Ge0rge Ed ward Adams, the former cashier of the Seattle assay office who was paroled after serving half Of his sentence inn posed for having stolen s20O, ,008 from Alaska and Yukon miners, was con victed last night of conspiracy to counterfeit United States money John G. Webber. aged 70, who was a, fel- low prisoner with Adams at MeNeil Island, was tried jointly with Adams and was convicted.
 The two men were captured last September in a cabin near Kent, where they had assembled a, crude counter feiting plant.
 The conviction Of Adams carries with it his return to McNeifs island to serve the unfinished portion of his previous ten year sentence as well as the new term.
 Adams, who is 3s years old is the son of 9 Massachusetts clergyman and a member of family that gave two presidents to the United States.
Norwich bulletin., 1913-04-07
ACCIDENTALLY SHOT
 AN INTIMATE FRIEND. Victim Exoneratee Friend Before Death Pathetic Scene at Hospital.

Hartford, Conn, April 6.-A1el Din berg aged 2S. accidentally shot his in tiInate friend. Gustaf Brisk. aged 2S, in the Iatter's room in Parlxvil1e tonight, Frisk dying two hours later in a hos pitaL A party of six young friends of the two were gathered in F'risl's room when Brisk showed his new revolver. DfnberE, while examining it, accident ally discharged it, the shot going through Frisk's stomach. He was taken to a hospital. where it was seen that the wound was mortal.
 Frts1x made it known that he wanted to see Dinberg. and there was a pa tnetfc scene when he made a formal statement exonerating his friend. F'risk said he wanted Dinberg to stay with him until he died, and just before he passed away Dinberg kissed him. Dinberg is being held on a man. slaughter charge and has not yet been able to secure bonds.
Norwich bulletin., 1913-04-07
"EURoPEAN iNJUsTicE.v Montensgrin King Says Europe Will
 Now Add RidicuIe to 1t.

Paris, April s.-King Nicholas of Montenegro Is quoted in the Temps as saying that he has learned with Bor- row that the cruiser Edgar Quinet will represent France in the naval demonstration on the Montegrin coast
 Tt is 8 bitter irony" says the king, that the name of the illustrious writ CT. Edgar Quinet, the upho1der of peo- unity, should be associated with an expedition against the small but val iant champion of Balkan independence. You may say that despite the meas ures of coercion taken by Europe agaInst her. Montenegro will yield only to violence. It remains for Du- rope to add the ridicule of armed force to her inJustice.''
Norwich bulletin., 1913-04-07
TO CONVERT WILSON.
Senators ts Discuss TariH Bill Wjtk
 President Today.

Washington, April s=Tbe der,e- efsfie tesiH bill approved by President sSiisaH and tis dsHaaefats of the house wlgs and means esHafaittse will Dc iHsFe.dHeed by Chairman Tndsrwead .H ss house when it eSHFeHes st noon tsfasERe~. Hegse demos serats will eaH= gus eR fhs bill Tuesday and Chairman TTszdeF~saa was confident tonight that 1t weafd ee iHdeFsed by eyer- whslRaiRE Sets
 see=fevs Withhsid Endorsement.
 TAx asssss aEssgesass hsd m piaa tskSsks ts heiA [ aazsl;s sa tAs pill
Norwich bulletin., 1913-04-07
GAR sPEEDED UP AFTER KILLING YOUNG WOMAN.
Gon,s5ody Got the Number and Two
 Arrests Resulted,

Princeton, N, J. April s.-AIiss May p1ryea, the IS year old daughter of w ealii1y contractor. was struck and
 Aiiled fate today By an automobile on tie Carnegie Lake road, crowded with Sunday prom menaders. The car, ac- eerding te witnesses. was speeded up after ffe accident and disappeared in lEe direction ef New Brunswick. It's ewnsr, Joseph Moran, who said he was vice president of the Atlantic Basin ls works of Brooklyn. N. F., and his { haufTeur, Irving A. Hoffman, were ar- rested in New Brunswick shortly af- erWaFd. 1'hs cars number, taken by aHs If ttss fFesH eBaaers. had been tele- ,hsnel to AeiEhaeriag tewas.
Norwich bulletin., 1913-04-07
Hur|s Defiance
 At the Powers
MoNTENEGRo THROWS DOWN
 THE GAUNTLET.
ATTITUDE UNCHANGED
Will Be No Departure from It, De- clares Montenesrin Premier to Brit ish AdnniraT-BIockade of Antivari.

Cettinje, April 6.-The little king dom of Montenegro has thrown down the gauntlet, to the six great powers. She declines to yield to the demand to gain possession of ScHtari, and has officially announced that there will be no departure from an attitude which conforms to the necessities of the state of war existing between the allies and Turkey"
 Powers Blockade Antivari.
 An International fleet, comprising warships of Austria Hungary, Italy France, Germany and Great Britain, is now blockading the Montenegrin port of Antivari- These include four Austrian warships, the British cruis- CTS Yarmouth, InheXible and Glouces- ter, the German cruiser Breslau, the Italian cruiser Pisa and the French cruiser Edgar ouinet. Russia is not represented by a warship but has ac- quiesced in the naval demonstration.
 British AdriraI's Message.
 On Saturday the British admiral sent the following message to the Montenegrin premier. .Dr. l.. Tomano- fes;
 T have the hener te infefm you that the international fleet is assem- blsd 1n Mentenegrin waters as a. pro- test at the non -fulflment of the wish es of the great powers. desire to call your excellency's attention to the
 
 the great powers are acting in concert and request that their wishes be full filled without further delay. Please inform me immediately that your gov ernIaent Is ready to carry out the wish es of the great powers.
 A Defiant Response.
 To this the Mentenegrin premier re- piled in a note expressing regret at the presence of the fleet, in which he considered violation of the neutral ity proclaimed by the powers at the beginning of the war and to the detri- ment of Montenegro.
 The premier continued;
 Despite the pressure which the presence of the fleet implies, there will be no departure from an attitude which conforms to the necessities of the state of war existing between the allies and Turkey
 Austrian Troops Manoeuvrine.
 4 brigade of Austrian troops from Caffaro has been manoeuvring near the Montenegro boundary. The cus- tonary notice has not been given the Montenegrin government, and Austria's action is considered unfriendly and menac1ng.
Norwich bulletin., 1913-04-07
NO RELIEF MONEY
 FOR PUBLIC WORKS.
All Will Be Used to Place Stricken
 Families on Their Feet.

flood relief committee has decided that not a dollar of its funds shall be ex- pended for public works of any char acter, but shall be devoted exclusively to restoring stricken families to nor nal life.
 National Director Bicknell in charge of the situation in Ohio. advised the home office here today that g. super visory audit will be kept over all ex- penditures and that eventually all ac- counts will be audited by the war de- partment-
 The Red Cross. upon Mir BicknelYs recommendation, today telegraphed so,OO0 each to Peru. Lawrenceburg and Ierre Haute. Ind, which cities have received 8 like amount from the gov ernor Of the state One thousand dol- lars was sent to Pfuua. o.