davidaulloa/AmericanStories huggingface dataset:
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-07-08

We hadn't counted on thls Tong cool spell"
II July but We are sincerely thankful to the
&eather nan fer the blessing
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-07-08
OmcfaIs Get Furlourh.

Oficials Get Furlough.
BY unanimous vote common coun-
Gil has granted thirty-day leave OF
absence to Justice Crutchfeld, and a
ten-day leave to City Clerk 3. T..
August
The Richmond Virginian. (Richmond, Va.) 1910-1920, 1914-07-08
PEOPLES FORUM
He Lakes The virginian.

STA rsnsEins ny Ira,osscrlp,ioa Il me
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
GOV, HUNT INSISTS
ON THE HANGING BEE
Will Not Spare the Eleven MUIR
dcrcrs. Because Arizona Voted
for Capital Penalty.

pIIuNIx, Ariz. Nov. 2i--tiov. Hunt
declared to-day that he would not yield
10 the petitions from church societies and
other organizations as well as individual
appeals tina, he spare eleven inurderers
under sentence To de on the gallows on
December 10.
THE people a. the recent election
refused to adopt the amendment abol-
fishing capital punishment" he said, "They
knew these persons were to be hanged
and thclr verdict was that they wanted
this thing. ! think shall see to II that
they nave their wish.
"If tho voters meant that the death
OF these men would bc an object 'esson.
let Ms make IL as thorough as possible.
| am in favor OF wide publicity II
win he better to hold this carnival OF
death in the public square. where every
detail will b. visible to every man,
woman and child who wishes TO watch
the CHASTITY proceedings.
when eleven men have been hurled
into the darkness Of eternity together
hope every voter in this state who
voted on November 2 to retain capital
punishment will realize that he helped
10 take these human lives I hope every
single voter will feel a personal guilt
II Arizona IL to he held up before tho
world in this awful light II IL tho voters
who are responsible"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
.S17.82 GOULD SUIT
FREEZE OUT, He SAYS
Mrs. Katherine Clcmmons
GOuld's Lawyer Asserts Dover
Elimination Effort.
81. 10000 LOT CONCERNED

Supreme Court Justice Newourg~r heard
argument yesterday IN the suit brought
by George u Gould against his brother.
Howard, to foreclose n tax lien for s6+.ooo
on the property at Seventy-third street
and Fifth avenue. owned by Howard Gould
and worth $1,000 900, because Howard has
failed to pay sI7s2 interest on the Hen
Mrs Katherine Clemmons Gould Is oppos-
ing the suit and alleges that the Goulds
are trying to eliminate her dover interest
in the property.
In the course ~ tho argument Robert
r. Knowles. counsel for George Gould,
admitted that Mr.. Gould had offered 10
carry the property for his brother AT
rate O. cne-fourth OF 1 per cent. justice
NewDurKer suggested that the interest was
unusually low, since the purchasers OF lax
liors usually get from 10 20 IL per cent
interest. NJ. Knowles said he didn't Know
why the interest rate was fixed so low
ut was n plain case OF freeze out,
said Arthur J. Baldwin. attorney for MIS-.
Katherine Clemmons Gould. The two
Goulds were merely trying 20 MAKO
sham sale OF this Si.ooo,oo0 worth or
property in dul! times. made even more
dull by the wa. So that it would revert
ostcnslbly to George Gould. We VIII snow
that George toN4u Idlu va" ''f''"" Va
baci, taxes and interest with money FUR
nished him ny Howard. The best proof
that IL is Gould family conspiracy
against Mrs katherine Clcmmons Gould
is that Howard Gouid never defended
the suit
George Courts attorney suggested that
| his client was only trying to collect ;he
| interest due in q legal way. and in reply
! Attorney Baldwin read extracts from teS-
| tlmouv given by George Gould in an OK
nminp don before 'r.nl. When ASKED ~ he
| would ravc 'eut Howard the $4,000 TO
| pay taxes II Howard had asked for l.. he
| replied 81 have done 90
Nov, Mr.. Gould, & was no. for tho
u7.s2 YOU b:ouGI; this su'', was +, "'
| asked counsel
| Vel. I would he glad - have my
money returned 20 me- just now replied
MIR Gouid "lt is worth some hing 20 mo.
but money wasn't worth much to you
when YOU bid $50 600 a. qu,r,e" o. |
. per cent. was 49, asked course'.
y didn't ~ the rate nay attorney did
! that"
Justice Nevburger reserved decision IN
! he ease.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
RETURNS TO FORMER
HOME TO END LIFE
Elderly Woman Slips Into
Apartment House and
Leaps OFF Roof.
FATHER HAD DIED THERE


Returning IN her old homs AZ II
Lexington avenue. the scene OF her
! foths,,s dea,h and which held many
-.....,.. H.. 60 ho- >,,.. Az. o,..,
-,
h'' OF new i'ocHeie' ''e"oer o' fanny
at one time well known In this city. COM
mit,ed suicide Yesterday morning by hurl-
Inv be-ao,f from, .b. roo, ~ rho ave s,orv
&c -, CT. - ~,
"p"' .''e"' "
stantly,
For many hours, while the body lay In
tho morsue the circumstances OF the
! 49,. 49,. sh,o,a.d I, ,,,,s,a-, ~, an.
hpout 'he pu'u'ns nan seen '"e "on'e"
before or knew how che obtained en-
| trance. II was not until ten hours later
VIXEN the police. through mark on her
| clothing. discovered her identity. that the
body was recognized by her brother
! Alexander c. cary Of New Rochelle.
From the stories told by the tenants OF
! the building the suicide seemed 20 have
| been the carefully arranged scheme OF u
dement.d person. The first indication OF
, the suicide was when Tn. body came hurt
ling through the mir. Daisy Johnston. a
| colorad ianitress, went to lnyeytigate and
! found tho bodv. Her scream. en,n,iod the
| house ~ ia tenants md brought ont Dr
| a., Cutuit,u vino lives a., .he ars,
a,,, paf,ra the arrival -, NJ Iras,on
~ p,,lo,,,. ,Jnsni.oi Va ..an,,,ed IN.
y.,,,,,n ar,i end ha- Jc,a
| m -, - 49,, 80, p,..t,.,,
| -. r,,,1 49, 60, zoo, $50
- ,,,,s " 80, i.,,t ri
| . 49,, - -, So .,,N -
a. pt o''t -
| VIC ''h' w w W ~" '''' - 20" '''"'"e
| pu,s 30 'u'..' 't - s",' VI ''N"'S anu d
l"uy "pr"ld'e" ""'''''
| -H'SS 'aIN ven -. -" a. - ~ NHs On
IaNr"ue " ""n,"o' W 800 *" WI" uei
, i''"e', Ine 'a't N'sNiI"F ''TN' ana
No SISTERS "Ie "t V"onl mas recently
u'"d' an" 'hr "lH'r' MSS 'hAfIo;te cary
win "uoih the DEAD woman made her
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25

He described at some length how the
new Federal res"rv" notes are issued and
their relation to r'dIscounis. and predict ID
that the new Ns,"m had laid the founda-
ton for "a really elastic currency"
II the system ana the retirement Of
nationa! bank notes worked well. he sail.
II might not lee unreasonable 20 hope tina,
Congress VIII grant permission 20 nc.
cel"raie the operation lret.remeutl ma
terially."
william g. Breed. chairman Of the
members council who presided. said mat
Il was the largest MONDAY gathering OF
business men iu IN, HISTORY ot IN. ci'v
Uu' that tu.s VS. pp~s bic he,gus,. 'he
business men believed tina; the new b.n'.-
ing system will make possible a natlonnl
expansion 81 'he resources OF the country
along rational lines and make II impos
sible for panic 20 sweep away IN a few
weeks the efforts OF u lifetime"
other speakers were Irving r. Bush.
president OF the Bush Terminal COMPANY.
WHO said tina; New York merchants have
confidence in the high ideals ana won i
aId IN every way 'Ar efforts OF tn, Federal
reserve officers. and Henry Il Tovur. =
former president II the Merchants Asso.
c.';ion and a. member of the executive
carmltte" Of the New York Federal Re.
serve Bank Among those present wee
William Woodward, deputy governor and
member OF the executive council of IN,
New York Federal Reserve Bank: Charl-.
Siarek. deputy Federal reserve agent
William b. Thompson. member OF n,
executive committee James + Curtis
secretary L. II. fireman. one Of the d.
rec'ors. l.. Il Palmer. director: william
\ Ma .ble. president of tho Merchant,
Ass citation. and tn. following member,
OF the associations committee on banln,
and currency
j. Howard Towperthwait Prof. Josepl
+. johnson. Edward n. Page. r l. Ken:
Also j. Ward Warner. president OF IN
Produce Exchange: j., Y. Cone. presiden
OF the Cotton Exchange: William Rayns
president OF the Coffee Exchange Georc
w. Lawrence. vice-president OF the COT
Zee Exchange, Martin Nogel Assistan
Treasurer OF tho United states an,
Eugene Lamb richards state Superln
tendent or Banks.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
TRADE BOOST FOR DETROIT.
Large Automobile Orders Received
From BclIig~r-nts.

DETROIT. Nov - A genera rev!va. OF
was predicted by Ia II manufacturers TO-
day af;c" the announcement o. Fred
rick Fi,h. president 81 the StujehaIcr
Company -, Il tto.: and South Bend.
Ind. that his company had closed con
tracts with the British Government for
the manufacture OF $1,000. 600 worth OF
automobiles. wagon. harness and similar
equipment.
officials OF the Packard Motor Car
Company at IN" same time announce
tie -c""ipt OF ORDERS from one of the
'e.l.ge'rnt nations FOR "a motor trucks.
other automobile mauutac'ur.rG COM
puu..= hsl" rtuort recelu: OF Large o.
d-.S from a'gNut The Jacobson Automo-
bic 'n'u''t., o. i. h-'u. Ni.'u.. l. urie-
""l;rau; W.'u ST." Irr.. 'iu,'.nUeu' "a
furnish 81 ""J. 900" Wo.;A oc Wo'vr cs.S
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
CHILE SAYS GERMANS
VIOLATED NEUTRALITY
Official Statement Tells Of
Sinking of Ship Within
Three Mile Limit.

si~TiAGo. chile. Nov. 2I--\n official
-'atcmeut issued 10y the maritime apthori-
rs to-day says it has been proved that
ie man warshps have violated the ntu-
atty Of chile by staying for several
days in the Juan Fernandez Islands, cap
'ir0g two neutral ships. seizing coal and
'rovis.ous and sinking the French bark
Valentine half mile distant from thu
chilean coast
VALPARAISO. Chile. Nov. "a Tho Chill
can Government has sent the training ship
General BaquedanO to the Juan Fernan-
iez Islands, a dependency of Chile, To in
r's'igate reports that the Germans have
established base on one of the group,
Ma--I-Fuera.
Two other matters are being investi-
gated by the Government. one is the
statement OF the captain of tho American
''t'nship Sacramento. which left san
Francisco on October - for Valparaiso.
lat she was forced TO turn all her coal
ana provisions over To- a German war Nes-
eel within the Chilean territorial waters
a. Ma -a-Fucra. The other is protest
made "a the Chilean Government by the
French Consul that the French bark Val
'ntine was sunk by GermsnS in the same
Waters
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
TEACHER MOTHER QUESTION UP.
Board TO He Asked 10 Approve In
vestiRRting Committee To-day.

Al the meeting OF the Board OF Educa
ton to-day the board will be asked "a
approve the nomination hy President
thurNlill OF the seven members OF a COM
mittee to investigate the teacher mother
question. Five members of the COM
mittee. including tho chairman, Nrs. Ella
w Kramer. are believed TO be opposed TO
the teacher mothers
Besides the chairman the members Of
me committee are Robert l.. Harrison.
Mrs. Christine Towns. William c. Will
cox Frank H. WIlsey. Miss Olivia Leven
uitt and Joseph Earondcss. The two las;
named are the only recognized champions
or teacher mothers on the commt ter
Af'cr comforting with the committee on
lN-laws and legislation the committee
will report to the board
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
HOWE MUST REDUCE
ELLIS ISLAND FORCE
Falling orr In immigration
Since the War Brings on
Rctrcnchment.

u,su,>c-oS xo, "A -.3uc,,o, %,
-,
''' i"''e VI cue 81 ""'o'7 Al'N IN
ploNees ot the United states manifestation
service n, Ellis Island, o. turlougns will
r,il,,. ~. ,.,,i, bor, o.d,,. re p,-ad.-..
,,.-,--,-. ,,..-
v HOWE '"lh''SS'"neI ol sra"o"
at the Port OF Now York.
Mr. Howe was IN conference With ri.
,,o-,i -, ,,,,,-,,,o, a,,a
~" nv
Setl"t iN OF l'd"''' II" mas "eeh o.! ec'eH
10 reduce his force and he l. dos, rous OF
l,oer,,,s. nc ,-ny,. ,,,a~ es poss,bla Of tho
-, .., ,. -,
"7''"' "'' eNPe' 'e''''u e"P'oEo'' INV"
such tfme as the increasing needs OF the
service msy afford steady employment 70,
49,.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
New Bank System Praised
at Prosperity Luncheon
Merchants Association Members as Hosts to Federal Re-
serve Executive Committee. Hear BENZ. Strong. Jr.,
Outline Benefits of the Change-1.625 Present.


Prosperity and the part that the Fed
eral reserve banking system Is to play
In enphasIzins the meaning OF the word
wero the topics that drew 1875 business
mon 10 a luncheon eiven Yesterday az
the Hotel Astor by the members council
or tho Merchants Association to the on
GERS and members OF the executive com
;rit;ee OF the New York Federal Re-
serve Bank
lf cheerfulness lis an indication OF pros
petlty the 1875 had 1t or expect 1t with
certainty that admits OF no denying.
Md they left no doubt In the minds of
teh Federal Reserve Bank officers that
the cooperation which Benjsmin strong,
Dr.. governor of the institution. asked Tor
az iusurirg its success Will he given in
fun measure
The 1.625 net In the grand ballroom.
where the only decorations were an
American nag. map OF the Federal re-
serve districts and a statement of the
resources OF tue reserve banks Business.
now to make the most OF ~ new credit
machine and h " to avoid tln<erlng vita
the wheels. these were tho matters that
Interested tho business men. ana they
listened iutenuy While MIR. strong. Pierre
day, Federal reserve agent and chair
man Of the board OF directors, explained
what might be expected and what to 90
and not to do.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
NoRDICA WILL PROBATE FOUGHT
Executors Seek Delay to Get Proof
I'm Thursday Islsnd.

NEWARK, y. J., Nov, oi--Vire-Chsr-
c.llor Stevens to-day put off until Friday
an application for an injunction ree;ra in
ing the proposed probate of a will OF Mime
Lillian Nordica before the Surrogate o,
Monmouth county.
II was brought on; that ono az the rea
sons for the application was 70 ohvia.f
:he pos~ hllity OF a commission going
from the courts in Monmouth county {
Thursday Island, on the coast OF Aus
traiia, to take testimony If witnesses &c
another will OF Nine Nordica mad" last
January ON the island few months before
she dicd.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25

and giving satisfactory assurance that
the paper offered by I, for discount gem
orally conforms to the intention OF the
act
Later he said
by some means vet TO be fully deter
mined II must become possible readily to
determine the eligible character and quail
ity OF paper OF the various classes which
may he offered TO Federal reserve banks.
! DO not wish 20 suggest that the present
system of mercantile credits should be
generally abandoned. TIE discoun; NJ.
lowed for cash settlement IL an important
factor In our business system. Rut much
~ the trade OF the country which II now
conducted against book credits OF 30, 60
or even 90 days may prorerly be repre-
scented bv mercantile paper II the induce.
nlent Il attractive. our vast domestic
t'ale should not be disorganized Dr har-
pered by a sudden and radical departuls
from methods which are approved hy
many bankers"
The association and It's suests were
quick TO applaud this sentiment and there
was hearty response when Mr.. strong
said in closing.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
J.P. MORGAN NOT TO BE TRUSTEE
Declines Cathedral Of -. John the
Divine Election

A. meeting OF the trustees OF tho
cathedral of -. John the Divine las,
night n synod Han IL was learned that
u T. Morgan had declined election as
trustee. No reason was given
The trustees nominated and accented
were Franklin u. Roosevelt Frederick @
Bourne. Robert q. Hone and DR. Nicholas
Murray Butler.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
ANDREW CARNEGIE 70 TO-DAY.
Has Recovered From Hines. Follow
Ing Return From Europ~.

Andrew Carnegie is % wears old today
IL" has recovered from an illness which
gay" him concern after his return from
Europe IN September and is now ENJOYING
good health
There will be no birthday celebration
AT the Carnegie home to-day. This is be
cause of the death OF Mrs Carnegie :
cousin and because Miss Carnegie (. a
student ~ private school outside VI
New York city aud win no. bc at home
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
PROF. KUNO MEYER ARRIVES.
German celtic Authority IL Honor
AIRY Citizen or Dublin.

Prof Kuuo Meyer OF Berlin University.
whose srce.3'ty is C"l;ir "a guiccs. ar
A. We'd yesterday hy the H,uaud-Nmcrica
larr Rotterdam To- study American uni
Ncy'.t.e-. E'li.u. hc said. had lost AL
interest IN the Celtic tonEucS.
Although An honorary citizen OF Dublin
and Cork and lover OF the Irish char
acter, he said. he feared ne would not h.
received Hospitality in those cities now.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25

The benefits Of the system will be rea
lied by the merchant who burrovs
money. II has already erased the word
panic from our financial lexicon Its
purpose n to safeguard your credit AID
ultimately to enlarge the field Of your
business enterprise"
Pierre Jay spoke warmly Of "ths periol
or cooperation" instancins the formation
Of the syndicate by New York banks TO
pay the c!ty's foreign debts In gold, the
subscription by the banks OF nfty-seven
cities to fund to provide. ~ necessary,
Tor the payment Of our national debts
abroad and the move by the bankers 10
carry the cotton crop. He explained the
Government representation on the Federal
Reserve Board and said that IL would
ernmental point Of view home TO the local
and business directors and the local point
OF view to the Federal board
One element in the structure ne found
unsatisfactory inN uluntAry member
ship OF the national banks"
This" he said. was undoubtedly n
necessary element at the outset. hut II the
system - To become really successful these
compulsory members must he not only
content and glad to stay. but its adVan-
tagrs and services 10 them and to the
tract into 1t most OF the $4,000 stat.
banks and trust companies which the law
could hot compel and which are stand NIX
on the side lines watching its develop.
ments with the greatest interest"
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
Tie HupMobIc
Chas. E. Riess
says /:

One OF the best things you can do for your
family this winter is to give them 1915 Hup.
mobile touring car fitted with the new Sedan
top.
You know the family wants a car. and her.
is the opportunity to get for them practically
two cars at very little more than the price Of
one.
For the Sedan top is detachable and is easily
taken of in the spring and the regular summer
top as easily applied in its place
Even though demountab-, the Sedan is very
substantially built and when applied the eaee,
is that Of regular limousine.
1t is absolute protection from the weather.
|, is solidly attached,
1t is nothing whatever like the makeshiit
Limousine tops you have seen in the past.
II is designed to be beautiful and to conform
thoroughly to the Hup's lines at the same time
turning an open car into closed one that Dor.
ders on il it does not actually attain the luxurious,
II you already have 1915 Hupmobile, drive
around and have us attach a Sedan top,
CHAS. Z. RlESS.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
WOMAN AIDS
IN BIGN.Y.CURB
MARKET FRAUD
Two Stock Exchange Houses
yictimizcd by Jumbo
Extension Orders.
WALL STREET HAS
MYSTERY TO SOLVE

with the New York curb market re-
on.ned only little more than a week ago
.be-o had been uncovered one OF the most
as-,rrlv conceived and exploited stool;
iobbing games that have come to l,gh;
in many years. Two Stock Exchange
houses have been vctimis.d apparently
IN a carefully prepared conspiracy to
boost the price of a mining stock known
AS Jumbo Extension. Nothing Is known
q, the identity of the men behind the
scheme other than that they worked
through mysterious woman agent who,
in the guise Of a Spectator, placed orders
wholesale and then conveniently disap-
peared.
Jumbo Extension. the stock used. has
been kicking around the curb market
for some years. Its chief claim to fame
was the fact that Il was originally
brought out by the firm Of Scheftels x
Co. In which George Graham Rice. who
served n term In the penitcutiary by
reason of his Wall Street activities, was
The moving spirit. Once before. several
wears ago. the trading In Jumbo was
investigated. following some unpleasant
Whispers. but the trouble was Strengthened
out
Ut
when Jumbo was selling on the curb
around 10 cents a share II became noised
abroad that the stock was due for a
Use The tip was passed around gener-
ously and It made good. Presently the
price was boosted around 20 cents a
share and the speculation became very
lively.
Large selling orders.
N was at this stage of the game that
me mysterious woman In the case stepped
in and things began to happen. one day
last week. when Jumbo was advancing
hr,skly toward so cents a share. two Stock
Exchange houses with out OF town con-
nections received large selling orders in
luISbo al the market over their Chca 90
wires. These orders were subsequently
found TO have come from woman Custo-
We- and were executed.
The stock was absorbed at once. The
market took it without a tremor. In
fact, the advance became all the more
furious. For two three days there
was a lively market in Jumbo. Big blocks
u the stock changed hands and the price
Use by leaps aud bounds. on saturday
i touched Sla5, on Monday $3.50 and
yesterday 50. The trading was kept W
.t;er business hours. In sal" rs. IN door
ways and any place where few curb
brokers' could get together.
Thu two Stock Exchange houses viii n
mad sold the big Zine" for their Western
,u,tomer soon found that she ~
vanished. They We're caught technically
mort OF the market and there was notn-
l- for them 20 do but cover "a well q,
,Nsy could. This process accelerated N,
tdyarcc. but it did not cause il wholly
her. was a great deal Of other buying.
Mnuy Well Informed.
In ne, one OF the unusual features q
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25
WILLS AND APPRAISALS.

POLICE CApr.IN FREDERICK W MERTENs,
who died February 20. 1919 left an
estate of s93.237. consisting of realty to
his wife. Airs. Matilda Mcrten.
DIR IIERMAN r. l., TIEGEL, who died
March 81 last, loft the bulk Of an estate
Of s23.3i1 TO his wife, Beatrice S. b.
HleseL
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-11-25

The spirit o: cooperation thus ex-
h!bited by the banks ~ this district, and
particularly by the members ol the New
York Clearing House Association. in this
~ in all matters connected with the eS-
Enlistment of the Federal Reserve Bank
OF New York gives striking evidence OF
their Intention to permit no opposition
Ia develop which may interfere with u
thorough test OF Ia" plan. This iasurts
It's success. and ! take this opportunity
10 express my admiration for this body
0f men. our New York bankers. VINO again
give 'Nidcuc, ~ their loyalty go American
institutions ia the true American spirit
He sali that the COOPERATION Of the
national banks had been amply assured.
aud that he believed that plans for the ad-
mission nf state institutions would de-
vrlop rapidly and anord means for en-
hrGiug the scope and usefulness OF the
system. Tine Soundest banking system
possible" lie said. should embrace in
It's operation all the banks which receive
demand deposits and discount commercial
paper
one OF the Important functions Of the
/ system. no pointed out. would he tn.
/ broadening and Stah!lziuE Of the market
! Cor commercial borrowings. lie de-
srribsd the provisions OF the act and
dwelt on their effect on tho note of mer
chant representing goods purchased.
Such paper" he said. lis In fact tn.
Ihlll common tn the London market. I
.gradually, without undue disturbance q
~ sting methods. tn" accc pted bill car
nn subs'i tut-d for the note Of hand
| lass of paper will he created which vii
command premium in the money mar
kets Of the country He laid smphasi
lupon the desrability OF such practice. bu
added that many obstacles must first b
overcome principal among them difficult!
Of disseminating information Of our cred
it's the world over.