The Birmingham age-herald., 1914-10-07
REPLY OF BELGIAN
 KING ID THE KAISER
Will Shoot Duke With Own Hand When Brussels
 Burns

I New York Sun prints the following: Let ters from London received here Friday night clear up the identity of the mys- terious prisoner mentioned in recent cables as held by the Belgians. to whom the other German prisoners pay extra ordinary respect, such as would be ac-
 corded by them only to. royalty. One statement was that the prisoner was
 Prince Adalbert. the third son of the
 Kaiser.
 The dispatches from London identify
 the mysterious prisoner as, the Duke of
 Mecklenburg-Schw It is not known when the duke was captured, but the
 Kaiser has shown the keenest interest in his welfare.
 According to the statement from Lon don, two letters of surpassing interest have recently passed between the Kaiser
 and King Albert of the Belgians. In the | first letter the Kaiser, in his own hand
 writing, informed the King Of the Bel gians that if a hair of the head of the captured Duke of Mecklenburg- -Schwerin
 were hurt he, the Kaiser, would destroy | Brussels
 The reply to this utimatum was laconic
 but to the point. King Albert, also in his
 own handwriting, assured the Emperor that immediately the forces of the Kaiser commenced their work of destruction he, | King Albert, would shoot the Duke of Mecklenburg-S -Schwerin with his own hand. --~----~>~~>~~~~~~~ | toard gave its approval to the proposi- tion that gold fund of GOO be pledged by the banks of the federal re- serve system, this fund to be made the basis upon which exchange from London could be secured by American merchants, merchants and manufacturers who had large obligations to meet abroad. The interrelatons of these two unparal- leied pieces of American financing will be more and more clearly disclosed when as d result of the establishment of the gold fund American merchants, importers and others engaged i'll business are able to buy exchange upon London with which to meet these obligations. For these two transactions, one of which was depend- ent on the success of the other, will in all probability, perhaps gradually, but surely, clear away most of the financial obstacles which were created by the sud- den outbreak of the European war In that way the business of the nation can be greatly helped.
 The Grand List
 The grand list for the city of New York which has just been completed. sub ject, of course, to some amendment or change. contains some features which are without any precedent, at least s.nce civil war days These are important not only to the city itself, but to the coun- try, for a good deal of the IAonoy of the people is invested. although indirectly in the real property of New York. The policyholders of the insurance companies, the depositors in the savings banks, the owners of securities issued by mortgage and title companies, have provided funds with which no small part of the real es- tate improvements of New York have been | made, and behind some portion of land values which have depreciated within the past year stand mortgages which arc owned by the insurance companies, the savings banks and individuals. The insur- ance companies investments represent the money of the people of the entire country
 The violent changes upon the island of Manhattan which have bean in progress for several years are set forth in the tax roll, which shows heavy falling off Of tho assessble land values in many parts of the city. especially the lower. This is due to the almost overwhelming move ment from the lower parts of the city to the center and upper parts of Manhat- tan island. It is an impressive fact that
 
 tain districts of the city over last year represents increased value in the newly established shopping district, especially on Fifth avenue, and when it is borne in mind that long established retail dry goods house which has hourished for many years in what is now the lower part of the city has been willing to enter into obligations which represent a payment of S5,OO0,000 for a new building on Fifth avenue and has obligated itself to pay rental that will aggregate some s15,OOO, = then there can be better realization of the enormous appreciation of real proper ty in the shopping distdict and in a com paratively limited part of the city. Some of the assessments show the magnitude of investment in retail store property one or these being assessed at S14,000, GOO
 Notwithstanding the magnitude of New fork city's funded debt and the large amount of It's yearly borrowings never theless the assessment reveals the strength of the credit of New York city The real property of the entire city stands at nearly $S.000. .000. .000 The total assessed valuation which will include personal property, will carry the figures somewhat above $S,O00O00,000. The taxes upon this grand assessment will be payable in part i' May and in part in November of next year, but the probability is great that thls year some means will be devised whereby New York city will not be com pelled to go into the market and borrow money in anticipation of fax navren+.