davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1913-05-18
CURRENCY LEGISLATION
Bankers Express Views on the
Subject of Reform.
FOR CENTRAL BANK
Exceptions to One Rediscount
Institution Taken by Some
All See Need of Change.

At the present time one OF the most
absorbing subjects is currency and bank
ing reform. and from the attitude Of
President Wilson II is evident that some
action will be taken If the bankers of the
country will vigorously insist on bill
being reported. There has been and still
is diversity of opinion regarding tho
plan which will prove 10 be most beneh-
cial to this country. so in order TO get
the consensus OF opinion from bankers
outside of New York. in different cities.
the financial editor OF The Tribune sent
out the following letter:
Dear Sir: l am desirous OF obtaining
the views Of leading bankers on the points
they consider should be incorporated In a
revised currency and banking act. In
your Judgment, should the relief be al
forded through one central or rediscount
institution, or by some form Of district
organization?
II shall be obliged to you for sugges-
tions. Yours truly"
The letters here published are few OF
many received:
New-York tribune., 1913-05-18
EXPORTS SHOW BIG GAINS
Increase $217,O0O,OO0 in Last
Ten Months.

Washington. May 17.-Exports from the
United States last month were greater by
100000 than in April. 1912. while Inn
ports were sls.OOo.OOO less. For the ten
months ended with April the exports this
year were S217ON0oC0 larger than in tho
corresponding period last year. and I'M
ports were greater by 100000.
April exports totalled 99Soo,0O0. against
sl79, ,2oO,O0O last year; imports, tlii,ooocoo'
against sl62,0O0.00O. For the ten months
period the exports were S,l0S0ooc.
against 1881 10000, and imports s1,5is,
Ooo.oOO, against sl.36700o.cOo. Free Of duty
imports in April were valued at $4,000 ooO,
dutiable imports. at 100000 In April,
1912, the free imports totalled 100000,
the dutiable, 100000.
New-York tribune., 1913-05-18
NATIONAL GUARD NEWS
General Organ to Have No
Escort in Parade on May 30.

Major General John f. Organ, COM
manding tho national guard. has decided
upon an innovation for tho parade or
the troops under his command on Me-
mortal Day. in Manhattan. Neither he
nor General George r. Dyer. command
ing the lst Brigade, will have escorts in
the parade. In former years the major
general has had all the cavalry as an
escort. while the brigade commander has
had the 1st Company of the signal corps
for his escort.
This year the cavalry will parade in its
proper place in the column. as will also
the signal company, only the latter Will
have its reel wagons, etc. All the troops
will don full dress uniform, except the
Provisional Company. TO be on duty at
Peekskill This command will appear in
field service uniform. with the new army
packs
The organizations will be in column as
follows: Major General Organ and STAFF.
Brlgadier General George r. Dyer and
stan, 7th. list, seth and 18th Inantry.
Provisional Company of Infantry. 9Th
a
Artillery, 1st Signal Company, LIST Cav
airy, Ist Field Hospital and LIST Battalion
of Naval Militia.
The parade will be reviewed by Gov
ernor Suzer at Riverside Drive and S6th
street and the column Will start promptly
/ at a. m. from I'D street and Riverside
Drive.
Tho Sth Regiment. coast artillery, and
Battery d. 2d Field Artillery. will parade
I'm The Bronx on Memorial Day under
Brigadler General Elmore +. Austin, chief
OF coast artillery.
The seth Regiment will parade twice.
having volunteered to parade in the after
| noon at the dedication of the Maine me-
mortal monument. In addition to the
| morning parade. Other colonels refused
TO volunteer their commands. on the
, ground that IL was expecting too much.
Such familiar terms as Bob" Reggie.
Eddie" Jimmie" etc. I'm the 18th Regi-
ment when officers address each other
on military duty. have been prohibited
by Colonel C. s. Wadsworth. who has
now assumed command. In future offi-
GERS n ust address each other with proper
| formality.
| Colonel wadsworth will insist on a
proper observance OF military decorum
and form among the commissioned ofti-
GERS, that they may set an example for
| the enlisted men.
First Lieutenant Thomas II. Barber has
deslded to resign on account OF going
West He Joined the command In June,
1911, as a second lieutenant. He Is son
OF the late Inspector General T. n. Bar
Der, n. G. n. Y. III. Cammac, from civil
life, has been appointed a second neu-
tenant. Second Lieutenant Sidney q. de
Kay has been promoted to first lieutenant.
| In report on the 6sth Regiment dur
!! ing its field service last year Captain
Charles III. Morrow, U. S. A. on duty
with the regiment, says:
"The spirit OF the regiment throughout
was very excellent Ii marched very
we'll and seemed TO take unaccustomed
hardships In good spirit and to be ready
for whatever work was given it. Com
New-York tribune., 1913-05-18
A PUBLIC OFFERING
Small Unsold Balance of Public
Utility-Issue Is Announced.

Notwithstanding the apathy OK the In
vesting public toward Issues OF securities
which have been put on the market re-
Gently. II is announced that the stock
holders OF the Commonwealth Power.
Railway and Light Company and the
Union Railway. Gas and Electric Com
pany have subscribed to ssoe3.5co, or 80 70
per cent Of the total issue OF $4,000 6
per cent convertible bonds Of the Com
monwealth Power Railway and Light
Company. The unsold balance, approx
mately 81, 800, 600. will be offered for public
subscription at an early date at Ih and
interest by Il. W. Clark & Co, Of Phila'
delphia. and Hodenpyl. Hardy & Co. OF
New York.
New-York tribune., 1913-05-18
THE PEOPLES NATIONAL BANK,
PITTSBURGH.

In my Judgment the United States viii
ultimately adopt the central bank sys-
TEN, which will at once provide an insu-
tuition for rediscounts, will act as the
country's chief reservoir OF reserves, and
will be equipped with the machinery for
the issuance Of a uniform currency.
This central institution will be under the
Joint control Of the national government
and OF the banks. and I can see no Oh
lection TO state as well as national banks
being eligible as shareholders in the CEN
trail bank. under laws and regulations ap-
plicable alike 10 both classes.
Regardless of political affiliations ana
divergence OF views on other national
subjects, bankers and financial economists
from all sections of the country, who
have studied the problem for years. APP
prove the central bank system. with
broad rediscount and currency issuing
powers. as the true remedy for defects
In the present system.
A central organization will not mako
good banker out Of bad banker-it VIII
not change human nature-but II will act
as a protection for the banking institution
conducted along legitimate lines against
tho menace OF reckless banking. ana
therefore will be safeguard for the
commercial interests OF the country.
central banking organization. under prop
er regulation, win be promotve or puolo
confidence in times of stress. Just as the
United States Treasury. despite its archa-
&c methods and legislative restrictions.
has aided to restore confidence In the
past
However, the fact is recognized that
any radical change in this or any other
important system seldom comes unless
under the pressure OF great necessity or
sudden emergency and for this reason ]
do not look for the immediate adoption
OF what i regard as the true reform In
banking and currency matters. Any step
New-York tribune., 1913-05-18
UNION NATIONAL BANK, PITTS
BURGH.

Replying 10 your inquiry OF the 9Th Inst.
I beg 10 ray that / disclaim any title 10
expert knowledge concerning the pro-
visions which should be incorporated In
an act revising our currency and banking
system. The problem is complex. What
ever is included or excluded. practically
all who have given the subject considera-
ton agree that the act should have as Its
prime object thef securing Of elasticity TO
our currency, something which 1t does not
now possess. But whether that can best be
realized through one central institution or
through district organizations. or both,
should hesitate to affirm.
The proposal that central bank or
reserve association" be established, with
authority to purchase all United States
New-York tribune., 1913-05-18
NOT A TRUST, SAYS ROSE
Ex-senator Defends Greater
New York Brick Company.

Newburg. y. Y. May 17-Commenting
to-day on tho report that Magistrate
Freschi OF New York City. had ordered
the officers and directors OF the Greater
New York Brick Company 10 appear be-
fore him on Wednesday TO answer 10 an
allegation that the concern violated the
state antitrust law. ex-senator John B.
Rose. president OF the company. declares
that the statement that his company con-
trolls q per cent Of the brick that IS
shipped to tho New York market Is "ridic-
ulous."
AIR Rose says that the operations OF
his company are within the law; that no
indictments have been found against the
company: but he has learned. he says,
that tho matter f. 10 be brought 10 the
attention OF District Attorney Whitman.
New-York tribune., 1913-05-18
COMMERCIAL NATIONAL BANK
SHREVEPORT, LA.

We beg to acknowledge receipt Of your
favor OF the 9th inst. in regard to our
views on the revised currency and bank
ing act.
In reply. We beg to state that It is the
personal opinion OF the writer that a CEN
trail bank or rediscounr institution would
answer the purpose. II this could not be
done, think relief could be afforded by
some form of district organization to act
in a similar capacity. This, Of course. is
only the personal opinion of the writer.
A. T. KAHN, Cashier.
New-York tribune., 1913-05-18
THE PLANTERS NATIONAL BANK,
RICHMOND, VA.

Replying TO your favor Of May 6. In
which you state that you are desirous OF
obtaining the views of bankers on points
to be incorporated in the revised cur
rency and banking act, beg to say that,
in my opinion. there should be district
organization rather than one central an
stitution. each of said organizations TO
have the power OF rediscount with lin
itations. RICHARD II. SMITH,
Cashier.
New-York tribune., 1913-05-18
MELLON NATIONAL BANK, PITTS
BURGH.

have your letter OF the 9th inst. re-
garding proposed new currency bill. and
beg to say i'm reply TO your inquiry
that, in my judgment. tho one central
institution OF issue and rediscount, with
predominance of government control but
with national bank ownership, would
prove the logical solution Of the problem
But. unfortunately, in the state of mind
OF Congress this would be at present un-
attainable. ". S. MITCHELL.
Cashier.
New-York tribune., 1913-05-18

The United states Geological Survey re-
ports gold produced from North Carolina
placers and deep mines I'm 1912 as s.
030.93 fine ounces, against 3,399.S9 ounces
in 1911. In 1912 the value OF the North
Carolina gold output was s166.0i3 OF the
total OF S222.49s for all Eastern states.
against S7O.2s2 OF the total OF S159.370 In
1911. The silver output OF the state. re-
covered as a by-product from gold milling
or smelling ores OF gold. copper and lead.
was 1854 fine ounces, valued at $685..
against 943 fino ounces. valued at $500,
i'm 1911
New-York tribune., 1913-05-18

.If a negro regiment - perTnitted |" "
organized for the New YORK hauO"a, :,
guard" said a we'll known oNcer'
have no hesitation I'm saying II VIII p'V''
q danger and detriment 70 both the ia
,ional guard and the community IN gen,
eral. In the first place. th' orgai''ln' :.
aa negro regiment, with negro oH''..
who are unknown az TO stahoihs y
military ability, is very grave ""o,.
taking Unless proper supervision an-
discipline can be assured IN advance ~
Governor should not sign the OH VIM
has passed the Legislature.
"To place arms In the HANDS OF H''
who may not be held under proper .vs
troll is danger 10 our oiuzens' IN 80
ton TO rifles and revolyers ana n'.,'
bayonets. there will be many othe' WV
sands of dollars worth of state ana sO,.
ernment property 10 look out ioF' " A.
not believe there are an negro men y
70 control a large regiment Win '
valuable property and bring Il 10 p.V',
stste OF discipline whore II Wou4d "
anv value as a military body II "
negro regiment Is organized. II u oii'
question OF a little time when l'aN'N.
Germans, Poles, Jews and o'her TO-.
will demand the same recognition. ih... ..
should be no race regiments OF any A. :,
organized. In tho past they nave p'''.,
a detriment 10 the nauoAdl
they will in the future.
Three drills a week are now oe'''e :,
formed In the Provisional Cohip"ny =,
Infantry. organized FOR three weeks go
AZ the School OF Application for o'...
10 omen Mt Peeksklll. June L Tne NO.
haitian men are drilling under Cap'".'
DE Lamater IN the eth Regiment A'i.s,. ~,
and the BROOKLYN men are drilling u".-
Captain Hodges in the 2Sd Resinien' :. .,
mory. Major II. G.. Landon' oi u'e a,
Regiment. has fitted the men Out W., ~,
the latest equipment adopted us Ia,
army. and clothing Of the best WIZ -,
be worn by the men. of'cers are w.
ing forward to the opening OF the s'Ie, "a
with great interest. First Sergean. "a
ward Aisley. of Company l.. l-th Nv
ment captain Ashmore) has oeen
lected for first sergeant OF the fro''''
Company.
A regiment mess has been s'a' ~,
the cod Engineers. where meoei' ,
regiment and their friends can Sc -,
erst class meal for 40 cents. or tney a
GET snecial dishes with vegetables i0'
c.pts with cents extra for tea OF ~
fee. The dining room In the ne" :" On
has been literally patronizea o. n.,,,
week and ladies have been In the ai'''
parties. "a IN
Company I. Captain Tdwards. ,us,,
largest company at present. with nl"'',
oe,cers and men. Sergeant Har',
Hasselbauer, Of Company l. mas ,,
promoted to second lieutenant eo"r Va,
G. CAPTAIN I,evien. will proceed " 80.
Cortlandt Park June Z, and encanip ~ a.
night. for surveying work. suhua' !,
ternoon the men viii play q sa'"'
baseball. hss
Colonel Foote Of the 14th Regimen ~.
arranged a review in the armory ." 80
day night. May %, in honor OF ."e Am.
surviving Civil War veterans OF tne lat
mand. Lieutenant A. L. L. Maruh A.
TALON quartermaster, has resisheu ~
count of business
New-York tribune., 1913-05-18
ARMY AND NAVY NOTES
Reorganization of Army To Be
Taken Up by House Committee.
tFrom Tho Tribune Bureau.l

dSninSton, May IL.
MAY REDUCE NUMBER OF REGI-
MENTS-As soon as the House Military
Committee is organized. one OF the sub
Jects TO be taken up will be reorganlzing
the army. There is wide difference OF
opinion among the experts who are mem
bers OF the General staff and who have
been studying this problem. During the
last Congress a vouminous document was
prepared showing in detail the reasons
why there should be changes In organl-
zation. This production proved nothing
the legislative readers. and tho War De-
partment failed TO submit a bill for army
reorganization In a form which could be
considered by the committee or reported
10 the House.
Representative Hay. who will be chair
man OF the House Military Committee.
will draft a tentative measure which will
be the basis for hearings. From this II
Is hoped TO evolve measure which will
be reported with some chance OF enact
ment IL is proposed. 10 start with. to
effect an organization In accordance with
tactical divisions. and there will be moth
ing I'm the bill 10 increase tho expense OF
military maintenance. IL anything def
mite is done. there may bo reduction In
the number OF regiments TO bring the
total strength OF companies up TO their
maximum. This reduction will release
from constant duty with the line many
officers who will be available for de-
tached service. at military colleges and
with tho militia.
The War Department will be asked to
submit It's Views and II is expected that
the opinions OF leading officers will have
a chance 10 make their recommendations
They will be informed that nothing which
adds TO the army either I'm personnel or
which requires increased appropriations
will stand any chance of receiving ap-
proval OF the House and Senate. II f.
felt that whatever should be done In the
way Of reorganization may be accom-
plished by the War Department by regu-
lation or order But II is obvious that re-
organization must be accomplished by
legislation II II is to remain. Otherwise
with every change OF War Department
administration and every new chief OF
stafr there will probably be a change IN
organization.
New-York tribune., 1913-05-18
,nds at present pledged to secure circu-

bonds at present pledged to secure circn-
lating notes, retire the existing circula-
ton. become the one bank OF issue. with
the said bonds as security for the same
volume OF notes as that retired. and with
additional authority to issue asset cur
rency as the needs OF business or einer-
gency requires. appeals TO mo personally
as being a reasonable way OF reaching the
end desired.
GEORGE VI. PADEN. Cashier.
New-York tribune., 1913-05-18
U. S. TREASURY FINANCES.

Washington. May 1.-THE condition Of tho
United states Treasury at the beginning Of
business to-day was: Working balance. s6i.-
759. 3g2 IN hanks and Philippine -
si5. 1870 354 total OF general fund.- s132. 649. 06S
receipts yesterday. S2.0Ji. i22: disbursements
81 572. go. The surplus this fiscal year Is $4,-
32C 2O2, as against dcf"f . [
year. The figures for receipts, disbursements.
surplus and deficit exclude Panama Canal and
public debt transactions.
New-York tribune., 1913-05-18

The first annual report OF the Butte
and Superior for tho year 1912 showed a
surplus Of sI.4ss.664 on December 81
1912. The report contains no income ac-
count, for the reason that the present
management was not in control through
out the year.
New-York tribune., 1913-05-18
BOND DOTS.

J. +. Wild & Co. of indianapolis. were
the successful bidders on May 10 for s16,-
900 AZ per cent. eight-year average build
ing bonds of Elkhart. Baugo School Town
ship, Elkhart County, Ind.
New-York tribune., 1913-05-18

IL w. Scheidegger. Township Clerk OF
Cortland. Fowler Township. Trumbull
County Ohio. will receive proposals until
l p. m. on May 81 for $4,000 per cent
road Improvement bonds, denomination
$500, dated May 15. 1913. and due April
1, 1929.
New-York tribune., 1913-05-18
ORDERS ISSUED.-The following or
ders have been issued;
ARMY.

ORDERS ISSUED.-The following or
ders have been issued;
ARMY.
Major MALVERN HILL BARNUM, cavalry
assigned oh Cavalry. on expiration present
Captain CHARLES W. VAN WAY. 81 Cav
airy detailed in Quartermasters Corps: te
First Lieutenant JOHN MATHER and Cap
tain FREDERICK w. PHlSTERER, from
10th TO l0lth Company. coast artillery.
Captain I.B VERT COLEMAN. to 10Th Com
pany. coast artillery.
tired, from Missouri Military Academy. MAY
First 1s Lieutenans DAVID H. BOWER. 22C
fnIsrSi' fantry: RrPERT TsS 4. 6uSFoRb. 18th In
fantry; FELIX EMMANUELLI. Porto Rice
Regiment OF Infantry; LLOYD X: FIRE
pBNDALL. "a Infantry; DANIEL s,vG2 u
LiNGbNER, ist Cavalry; JOSEPH 4
MANDREw. "a Infantry: HANS o. OF.
PRIDGEN. ist Infantry. and second Lieu
tenant GEORGE +. n. DALEY. Goth In
fantry, To. army signal school. Fort Leaven-
worth, august 20. for instruction
NAVY.
Commander y. Z. DfSMUKEs, detache,
William cramp & Sons. May 20: to nava
war college.
tached Office Naval Intelligence" May 20
TO naval war college.
Lieutenant Commander J. q. CHURCH, de
tached naval academy. Juno Z; TO nava
war college.
Lieutenant HALsEY POWELL. to Naval Wa
College.
Lieutenant C. II. SHAW. detached william
Crsmp & Sons. May "a; the Nebraska.
Lieutenant |. c. KIDD. detached Naval Acad
emy. June 0; tho Pittshurs.
Bnsigns L. G. DUNN and Il. T. WRIGHT. de
tached the San Francisco; the Castine.
EMsgns CONRAD RIDGELY and w. A
HoDGMAN. detached the Nebraska: tho Sal
Francisco.
Ensign n. b. CHASE. detached the Montgom
cry: the Georgia.
Assistant Paymaster r. s. ROBERTSON. 4
the Galveston.
Gunner EDWARD wENl, detached the Indi
ana: the Missouri
| ton hitting out OF tho Texas: on board whei
commissioned.
Carpenter NJ. NJ. sAYLoR, detached the Pitts
burg; the West Virginia
| Carpenter W. L. TWITCHELI. detached tn
| West Virginia: the Pittsburg.
MOVEMENTS OF WARSHIPS.-Th
following movements Of vessels have beei
reported to the Navy Department:
ARRIVED
Nav lo-The Illinois. at Annapolis
Nav Ie-The Perkins, at Newport: the Mary
/ land Mt San Pedro the Alabama, at Phila
dephia: the Petrol, at Mobile: the Glacier. a
I MaZatlan.
Nav l6-The Perkins. from New York yard 10
Newport; the Justin. from Iibourn for Sa
Diego: the Montana, from Algiers for Phila
delphia-
NAV 1.-THE Brutus, from Algiers for Hamp
ten Roads.
New-York tribune., 1913-05-18

An ore bin is being erected at tho head
frame OF the Goldneld Florence mine IN
preparation FOR hosting the products that
will be sent TO the Bonnie Clare mill. II
is said that there is approximately 5000
tons Of ore broken I'm the mine.
New-York tribune., 1913-05-18

pany F, Captain Mcguire, deserves :. ~
cial commentator. as 1t was easH! w
best organized, disciplined and mos. '-
cient'company in the Ssth Infantry
New-York tribune., 1913-05-18

It is reported that Adams 4 Co. OF
New York. were awarded on May $751;
900 street paving bonds Of Friendship.
Allegany County, N. Y.
New-York tribune., 1913-05-18

According to reports, Amsterdam. Mont
gomery County. n. Y, will hold an cleo
ton on May 22 to decide on the issuance
OF 100000 Mohawk River bridge con-
struction bonds.
New-York tribune., 1913-05-18
CURB ECHOES.

The New YorE Curb Market Association
has accepted the resignation Of l. p.
Cartier.
Lower coast gazette., 1913-05-17
Trouble Among the Flor
i'd Grange Hen.

Since Secretary Wilson demon
strated the fact that it took 60
per cent Of the final selling value
Of garden truck to pay the cost
Of it's transportation and dis
tributing to the consumers, an
inquiry has arisen from Al! over
The county ard 2 Congress 3as
beer red III Chicago e endeayor
to find some method of cheaper
ing this cost and bringing the
producer and consumer together,
but no royal road to that final
success has yet been opened.
We now learn that our friends
in the orange industry in Florida
ere having their own local troub-
les. The New York buyers have
beer expressing considerable
adence in the Florida Citrus
Gxehasge and yet various par
siAahave been discontented with
TIC work of the Florida exchange
and his led on April 18th to the
resignation of the general man
sger of this exchange at Tampa.
The retiring general manager,
Nh. w. C. Temple, claims to
have put the exchange on q Sue
cessful basis and to have over
come a financial deficit Of $50, GOO
of the previous year and to have
accumulated a slight surplus.
This done, he thinks he has done
his whole duty and believes that
the people of the exchange hard
ly appreciate the value of the
work done and so he prefers to
withdraw. 1t would seem, Incl
dentally, that Nh. Temple has
been jumping on the Florida
congressman for their lack Of
sympathy in repelling the pro-
posed dilninution of duties on
imported citrus fruits. This was
done in his individual capacity
and without the direction of his
board and has created some dis
content. Various allegations as
to unfair procedures On the part
Mahe officers were made, per
haps without adequate fourGa-
ton and:'promoted largely, doubt.
less by unsatisfactory financial
results and especially those re-
salts that come with the determ-
ination of the dominant political
party to largely reduce duties on
citrus fruits with other staple
articles.
Lower coast gazette., 1913-05-17
0unc h STANDARD

EUG. DE ARMAS. Nj. 0. BU.
RAS and NJ. G. BURAS, Own.
ers; Eng dc Armas, Mas
tiers: j. C. DE ARMAS, Clerk
Leaving Wednesdays and Sat
urdays at 6 o'clock a. m. Wed
nesdays for Port Eads. Satur.
days fer Venice. Returning
Thursdays and Sundays.
Freight received Mondays,
Tuesdays and Fridays foot of
Ursu}ine Street.
Lower coast gazette., 1913-05-17
THE LOWER COAST GAZETTE. SATURDAY, MAY Il, 1912

1,terest ann cost 800
A certain tract Of land situated on
the left bank of the MISSISSIPPI
River, measuring 2 arpents front Dy
70 arpents in depth, bounded on the
upper side by lands Of the Plaquemines
Land Company, and below by lands OF
Phillips Land Company.