davidaulloa/AmericanStories huggingface dataset:
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
OBJECTS 10 TAX ON POLICIES
President Day OF Equitable Protests
Against Proposed War Levy.

President William A. Day OF tho
Equitable Life Assurance Society has sent
vigorous protest 10 the Ways and Means
Committee OF tho House against the pro-
posed emergency tax on life insurance
policies. He says in part
FOR the second time within a wa r
the obligations Of my post as chief trustee
for moro than one-half million policy
holders most o' whom are working peo-
pie who have no fixed income, require me
90 ask you not to think Of penallzing
them further in their efforts 10 protect
their dependents from becoming public
charges. Taking . ~ a whole the taxa
ton 90 which they are already subjeoted
violates every fundamental consideration
OF equity IN levying.
THE regard for the general welfare
which should dominate tho tax laying
power under our scheme of government
would seem 90 require that the spirit of
persona. 'ndepcndence and - self-support
eN"mplihed In life insurance should he
fostered. Yet when IL Is felt that the
limit OF burdcr'ng has boon reached Il IL
round that tho latest imposition has been
but wedge for greater burdens
The facts force upon us the question
TT Congress in its wisdom in the prepara-
ton OF a revenue measure 20 meet the
regular expenses OF government recognized
the Justice Of exempt,ng life insurance
IN the extent the tarify law provides WHY
should not those same controlling CON
siderat'ons exempt life insurance rely
when an emergency revenue measure Is
proposed?
There IA a special reaaon az mis- time
why the thrift oc our working neopIo
should not he taxed any further. Amer
ica's workers will have their heayv sNnre
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
Our strength aud w.nLn..

We're 1t not FOR tho phenomenal funda.
nen'h' Soundness or the American bank
ing ana business Organization, for the in
tr'nslc health and strength of American
credits and values. the European war
would have worked far more fearful
havoc with American enterprise than II
has done or Is going to do, our enormous
stock of gold underlying our whole tinan.
cial and business structure and tho co,os.
sal real wealth of tho United States per-
NIX us TO get along with Institutions
that are not properly designed for ,he
circumstances OF peace or OF war We
arc IN the why Of improving on all this
but IN considering the financial and bust
ness problems of the moment we must
take account ~ the exceesvc nuitiplicity
OF separate banks In the United states
ana the tendencies that have bcon
POLITICALLY expressed toward economic dis
or"lnisHiion generally instead OF toward
combination and cooperation which would
nay" allowed W Ia mobilize our resources
more effectively against the strains Of
nm unprecedented emergency. We must
remember especially tho total lack OF
Capitalization in our financial orEnnisa-
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05

hahn N. to r,s,t avar . N,r,n.- ~o,a
An, r. a. nn, bou.ya. ths io.s ~
gold u,b,ch 40 gotn, 90 hurt -. ~ ,,rch
si,ho,ah a. iu,.c,,,as ,.-.,s,a,,, ..r,,aa,,o,,
t., don,a,,,, nr.d,s Sona,,Inn. ,,rt,i ~.
aa,,,s,naar,. 80 so,,n,a,aa u,hat ,,,,i,
49,, ,ho so,',a,.,o ,,an,,.,, v,ar,,at "a
dnr,s,,in h,,s,,,.s. ,,,u 30 ~. ,nss - ,rad,t
,oni,,,Ic. vs,h ,,,bto,, I.o,do,, r,,,h, S,,r.
- ',s 10 4, So, - d,s,o.ar, a,t,,rhn f,c,o
a., S.h,an q, ba. ~ .1,,,a,,ins ,o,yo "a
k.,..r.a,s s,'a..
Th,H s..i.,,a- =. S,, 49, ..,,,. .or,.
ST.. a.. ,.,an g., ,aaa,,.. q, ,,,nijas
w ,,.,.,,,,,,s, q, ,dnn 20 r,o.a ,ha
aa.,,nnar. 80 80 saratan nn,,y,,,ons ,oss
svrar.,,,a ,h.n q, ,,,,r,,. no po,h In
',,,,,n so.na.ah. C. rI-,.S ron.
puuuo 49,. .siu ." 49, e., -
n,..n, Ssn .se,, ,ha, ,,.a 49,. NO,
.,s,,,ax 80 sat,. on,n,a,r,s ,yb,oh ho,ray
a.,o,,tsh,u, oh,,,,io,,.nasa ~ tha very
.ru.,,,, ne,a,.,s ,,,h,ot, NO ora r,g,tinS IN 40
d.. ~, ,,h,,.
s..s, ,1 -. $50. M. go,.
800. ,,,,,h pr,,,.h rr,uce and MO ,rorid'e
,,,.-,' ,..,,a,' -. IT,. q. n,, r,.n,,ss,ing
tnn. ,,ai,.,a. 20 ra.o,,roso,inass and
.n,,ros, S,h,oh a, should damonyrst. a. IL
- aot,,r 90 i,,,n So 90 tha motto u,h,ch
D.,s,.s 80 80 ,.l1,,st-., 20 ia o. ha,,n
aann,aa t,. ,.s ,rar1u,.f,,,s,na.s as fys,,ai ;,
a, a. ,r,ta J,.nar,,, ,,n,n,, Oh. ,,r. n..
,u,oan o,,r n-essrt n;o,, ratas Tor rnorev
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
FORECLOSURE SALES.

t-->~~-~>~---~~-~~N~~~--
SUPREME COURT, COUNTY or NEW
YORK The Farmers Loan nud Trust Cow.
panyt as substituted trustee under The So
OF Timothy G. kimbail. licensed pIalnI.T
others. defendants
In pursuance Of "A Judgment Or foreclosgr.
ana sale. duly made ANA entered In the .tbuss
day Of september. 1914. f. the ui,dsr.lrnei
the Tcfcrde in said Judgment na,mea' WI
Saesroom, nos. i..iS 've.ev Str.et ,n M.
on the 2it day ~ October, 1Plt u g..
o'clock noon on that day, by Charles
by sa!d judgment 20 bs sold and ther,ii
, d,rscrinsd a. I9llowS: ~ that certain 'O;
being In the borough OF Manhattan. CITY Or
New York bounded and deGcrihed oe ~
sar OF csarrW st a. p9Nt on me eS1h.
ana iive t2O6l feet two and one-haf C1t,
i ne e., Sasterly from tho corne. formed b.
Cherry street and tho easterly sido OF pix
street o. sir running thence eastern, aIons
the southeriy side OF Cherry Street. thlytes,
tISl f"et slN ami one.h half t6iS) uu,nsa
thence southerly. parallel or nearly 60 r,'l
the easterly side OF Pike Street ana Tor .
part OF tho distance through a party Va,
htty t5Ol feet; thence casteriy elk ,6) inches
the easeriy side Of Pike treet ZEE" seyon ny
e reTt . .iS 90 nehes to point on tho north
dred and nipetsen t2is5 feet four ana ma ' ol,
half tia) inehes east OF PIKE street ths1t,
y,.ssN elong the northerIy side OF Wat,
inches; thence northerly, parallel or n-lt.'
90. with the easterly slide OF Pike Stre-,
tWHhty tsol feet ton GQl inches. thence
essteriy' parallel. or nearly 30. with mo
nH.o7ttherly side Of water street, twcnty.thr.s
CD teet eleven and one-half Uli,D inches
Liehce hortherly, parallel. or nearly go ,It-
Sho easterly side OF PIKE street ana Tor NO
ot ue distance through party wall. nlfir't
usne trsl leet siH tbl inches more or Ices Poo
the point or place Of beginning
said premises VII be sold subject 20 an
Hthte OF facts which may be- shown ~ 4
survey OF said premises fuada by Francis ~
rorn. dated Juno 2hth, 1903, and cerflf-a
~ Francis w FOrds sons and also Frt ft.t
20 the covenants and conditions contained IN
srAnt recorded in Book of Clty Grams
NV lork Comptrollsr's Office png. III a..
ss -, ~ Az OF It's Legislitur. ~ 81.
US tne same may now be iu force
peted New YORK. september ~, 1914
HENRY A. FORSTER Ueforss
M ANLEf A. RAYMOND. At,orney .,-
rlshtin. Once and Post Oftico ,sdr...
t5O BROADWAY. Borough OF MAMMA.
Ine following 10 "a diagram Of IN. rr..
S ~ 70 DC SOLO; It's street number ors
Cherry Street ana 4sG and As yyntor s,r...
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
Gold Fund Committee.

All the questions asked or implied IN
the foregoing may be answered In tho
next few weeks by me response which
foreign exchange makes TO the operations
Of tho sloo,o00,O00 gold fund committee
II tho response IL not satisfactory, IL n
appears that practically all that has been
accomplished has been tho export OF gold
for the discharge OF an equal amount
Of Indebtedness, tho bankers OF America
will no doubt find a way 20 provide moro
gold as long as gold is obtalnahle here
for export, hut London's title as tho prl.
mary money market will he forever tar
uished.
AZ no distant day the Federal reserve
banking system will he inausurated The
appointment o. class &c" directors an
nouncsd laat week prepares tho way for
the organization OF several of the new
banks, which VIII muster the country's
financial resources for effective employ
ment IN n fashion which has not been
possible hitherto. The lowering Of re-
serve requirements which will ACCOMPANY
the inauguration of the new system, the
rediscountlng and note issue facilities
which will be provided and the cc7traliza
ton % reserves which will take place will
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
LEAGUE TO GUARD INVESTORS.
New Jersey Chamber Of Commerce
Announces New Orrr utzntiop,

The New Jersey Chamber OF Commerce
announces that an organization 20 be
known as the Investors League has been
formed 20 guard against attempted raids
upon the business interests Of New Jersey
and to protect investors from dishonest
promoters OF corporations. The league will
Include property owners. bank depositors
and life insurance poicyholders as we'll
as stockholders in corporations
The announcement. made In ve,D .ysrsey
tho new monthly publication OF tho Cham
Der OF Comr@arce. saws in part:
Tho Investors League Ia n union Of
those VINO have something TO lose. II aims
tn protect tho humblest workers as well
AZ 20 guard against raids upon the bust
ness interests OF New Jersey,
Tho dishonest promoter Of corporations
will And tho league opposing him ut every
turn. N win endeavor to make Now
Jersey corporations the best. most honestly
and most intelligentlv managed and their
securities al safe aa possible
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05

II may be conceded that going rates
Tor money tend TO restrict trade and i'm
dustry and not 10 stimulate expansion.
They tend 10 force tho payment Of out
standing loans rather than 90 foster the
extension OF borrowing. Tho fact that
this country holds such a splendid neu-
trality politically makes u very hard for
many people 20 understand that its eco
no1lio status Ia not one OF similar do
tachnent and isolation. In vague and
indefinite ways Il ~ admitted that the
war ~ making n Tot of trouble for u,
and IL going to make more. hut for tho
most part there Is "A too prevalent notion
that American political neutrality con-
fers exceptional advantages for II rapid
restoration ~ commercial and financial
activity 10 the state of antehellum pros
perlty and n still more rapid progress
toward a boom thereafter.
The fact Of the matter II that me war
has created for American finance n set
of conditions which havo % bs dealt with
most carefully IN order that American
business mnv not he Obliged 20 pay too
large share ~ tho costs OF war. The
phrase American finance means tho
American banking community, and our
bankers are facing a tough problem, the
solution OF which IL not going to he as-
sisted II the head OF the Treasury De-
partment recklessly ventilates views that
are contrary to ftct and 70 the ooun~es
OF banking experience and backs these
views up with tho threat OF Treasury
prescription
An occasion was furnished Mr.. McAdoo
in the Southern campaign for Government
indulgence 10 the cotton planter to
point out that one thing which Is
making for money market strain ia tho
demand addressed 10 tho banking com
munity for funds with which TO maintain
values and commitments against an OH
vious necessity for Liquidation. In other
words a good deal OF credit Is being
sought not for tho purpose OF helping
business 20 be done but 10 prevent It.
Bank credits must be liquid on the whole
or tho banking community cannot eNtend
credit.
We ventura 10 say that wnsrever there
Is an opportunity In tho United States
to-day for a banker 10 make n loan In
order TO ENABLE business TO he done he
will he only to- glad 10 grant the accom-
mediation asked Every banker who has
any right 20 he in the business knows that
nj time like this he Is never % ade-
quately performing n banking function as
when he makes loan 10 n deserving
borrower, even though he knows also
that he must charge what money is worth
In such times. Neither is II IA hardship
for the borrower TO pay fun rate for
money if he Ia thereby enabled to conduct
business transactions impossible without
the aid OF bank credit
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
FIRST NONSTOP AUCKLAND TRIP
Delphic Arrives After A4ih Day. On
the High Sens.

Tho White Star freight steamtihip Del
Pine, with large general cargo, irclud-
ing frozen mutton. finished yesterday the
first nonstop trip between New York and
Auckland, covering tho distance In forty
four and half days. In her hong run
she sighted only one vessel, tho British
-FOUR n1asted square rlgger Midway, off
the Falkland Islands, hound from 9vinAv
New South Wales. for Falmouth.
Tho Delphic's skipper, Capt. symons,
and his officers kept sharp lookout for
German cruisers, hut sighted none and
did not even run across the BritLsh squad
ron cruising off Sandy Hook.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
KINGS COUNTY

H. " w. VI. VII and VII Tor trlai -
KINGS COUNTY.
supreme Courr--Appc,latc Division
second Judicial OBSERVATION-DISCLOSURES Jenk-.
Court opens at / p VI. EnumSrat"d d rs;
"ndar-Nos. 500. G2g, ssi. eSe. "a 66i.
643. Gii. 6>5. 6aG "a CAS-. Gia. G7i we
=, Nnprcms Court Appe' ato Torm--second
Juo''lal Pcptrtwclt-b"fore Kelly Black
" Motion ndar--Flouman vs. tioidstein
uunl v Myers. preSel Furniture Co vs.
Stoun,, Yatho VIZ Smith, Klec1ynsN W No
ttWskl. TuyNrett ano ~ Sheppard Mfg
CO" Gr"ouidse W ENcelslor Theatre CO
t.ecnIdgr vs. E'ceIsior Theatre Co. Union
NS boyd Construction co. Freeman Va Levy
stein CO vs Rappaport, Golkin We Hard
SchlcslnEer ct n VS. BelnnnwSky Wrlsch rs
tT.d!ander' Scally VS. Forea, wnllan ~
himmr'. Nuimln ys cutler. Gallagher W.
i9' 81 iS TO-, ~, 49,. 2l3. Is, 10. 20, g.
2ot, 2lf. 2cl. go, at RIO. g26. 81.
supreme ,Court-Trlsl Terrn--par, J.. As.
Clark J.; part IL, Benediet. j.: P Far " Y,
S ESE S onsns ~ Part W.. Blackburn j.
s:ls, sssi ai2c, 5,ei. liSS, i.aS, i5SSI5, las,
ssSa. 500. 1922, ssl7. 9daG. 6sGl. 1850. 7855,
sGgSSS sds l63S 2S; 59s issa
The following causes ~ marked ready viii
be passed for the day. No cause VIA be sci
st 800 tTr ss gay a nP9n hl' S9s sSs;
1855, 5so5. 1887. ?i4. 1922. aai6, gs4l s566
!$ SER s sses a. Sss sl3 i9% 5s AZ; @
7lsc ssss ss sis s5o 3. si aeS IS ..!;7
on regular cali SS9a
supreme court-Sp.cial TNrm--Rnrt L.
Hei2ro crane Court opens az 10 \ NJ.
FoIvel w n o g. 4 = x. r; 3. people -
Edel-tein !, ReFo v. price, 6. Wundtrman
y pov niiT'SH a. 4 hI'mST X n Il, a H. r. =
lindsey, .. wittemau VS. witteman: 10, no
Cabinet - H. Weaver ~ Mccormack; L.,
GIANT vs. smith; "a, Jacob. vs Fcatherston:
-, Clement Va ciement; IS, People cE rel
Dunn W smith; 10. Markovich Va Royal
%,rac e0 Co is Pe rGPGSRi =. " ! T.
a. 32Sro'"n We American sugar Ref. Co,
hAis W "a "1 ROCK u, .,5 AIdT1'i Gat %
NoIte vs natchs IS, Hansen W. national
m raF' york. 70 d IlGH VS. Highway Amuss
pit'sburg u. l. Wks. v. Red Hook L. & r.
Co.; 29; Alas vs. Alas; 80. Dawson. VI Nor
Herger; -, HoaGland vs. pay; %, Deitoh'
man vs. Cannon, 80. Ruhler Va Christine,
SnS,n, CO. 70. berwick vs. Martin, Al,
"a cities r.. y. O. IS, Pincus Va pincus,
%, cotiren W. Cottre,i, as, y. Y Life Ina.
Go. W. Tion Realty Co.: ~. Perry VS. II. ii
50. Mead vs. Franz: H. CnderSin vs. inS yytcss:
W. Dineon VS. Franhins Incl Oh, Thomp.
1Sn We ThGmpsoni 81. Williams vs. Keelsr
,tds Co. Co. schalk vs. MoMullen Co Sc.
Maly, vs. eamoi 81, Rosenberg W Rosenberg,
IS, Hawkins VS. Jones; 80. Sampson W.
60, Berwick w Martin
supreme Court-Special Term--part III
Trials. Before MADDOX J. Court onena M
70 A NJ lsRues Of law. Day calsndnr-
Nos, 1888, 1855 1857, 1898. 1853. LAO
1871. 1892. 1854, 1894, 1885, l?sG, l,GSiS
causes II marked ready VIII ia
passed for the dsv No cause viii he 90,
d@wn ,d sor dsys upon tho call Nos. 77S Ola
ll2S I'LL. $50. 1909. spi. esG. S7s' ia "
atS' l5St esc. ioi, io3s eGs po1 ~ .Cs'
liS7. '"e' on regular calI
. Suprena Court Special Tern,-p,foro
g ane j. Court opens az 10 a NJ Mtigstsd
motions Before Manning. J.--IY:x narts
County court--Psr, W--Bsfor. Dix. =
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05

No Eault ~ to be found with the attitude
or the British Treasury or with the Bank
OF England. hut the London bankers "a n
whole have not acted In a fashion salts
factory - tho British people ana they are
not acting IN a fashion satisfactory 10
American finance. Every allowance may
be made for tho burden under which Lon
don IL lahUrinE All the world Is IN debt
10 n. and a large part ~ the world can
not make any payment. Nevertheless re-
marknbls steps taken hy the H4tlsh
Treasury ana tho Bank Of England have
l'ghtened immensely the lead or the Lon
don money market. and there is to-day at
the Bank ~ England mammoth total
OF deposits which denotes an unwieldy
plethora of funds that British bankers
are not using IN any way TO restore the
International exchanges.
Uncle sam - the most solvent debtor
In the world hut IL would seem 10 bo a
bad stroke ~ policy for British finance
to do so little as n 10 doing 70 helm
Uncle sam 70 pay his debts without giving
up his bottom dollar. Has British finance
be'"n" Hpprehensive that IN this Juncture
the United states might take count OF its
Resources and proceed 20 organize them
so effectively that this country could sci
up ~ banker for tho world and 40 do
piIve Great Britain OF the PRESTIGE which
II has enjoyed? Does London fear that
dollar exchange may become popular in
VI" nHrh''7 OF IN" world as a substitute
for sterling exchange?
There is enough IN the circumstances
or tho moment 70 suggest that tho COM
Wercial seliShuess ~ which Great Rrit.
ems enemies accuse her has dictated an
attitude toward this country which IS as
unwise m II IA ineNpedient With an due
regard FOR tho contingencies or the war
In which Great Britain ts fighting for
national existence II would seem that
tho time has arrived for the London
money market 10 do more than It has
done 20 lessen the compul sions nut upon
the United States for tho liquidation OF
its foreign obligations with practically
none OF the assistance OF credit extern
sion that London has been wont TO render
10 New YorIs
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
THE CUBAN & PIN-AMERICA~ EXPRESS
COMPANY

Jersey Ctty. y j. september 90 1s,.
Noiic" II hereby given that IN, annual
meeting OF the F'ogkholders OF the Cuban e
Fan Anf! lean Express Company vail ne
held at lac principal Office OF the Company.
40 10 ENchngo Place. jersey city. y. j.
on IN" lath day of October 1914. at II 80
% CLOCK A NJ. Tor the purpose Of elec,ing
three directors for the ensuing year and for
fhS trhnshrtlon OF such other business AZ
may properly come before H. Pole will re
snain onen from 70 o'clock NJ 10 1 O'clock
y. N transfer books will close soptem Der
:sth and reopen October ltth.
A. p. GUMAER, srore,ary.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
e HER Rr 5Z


ms approx mate amount OF the lien ..
cnhrEe, 10 satisfy which "hr above d,..l!r ...
properly sold, Is S2l.N5Tg-. with iul.r.A
,neteon from september End. 1874. 'ogrrr-
WIN coats and allowance pmount.ng 70
s5eh,so. with Interest thereon from Srupfer.
per i'm, 1871. together with tho exp.us.s .'
as.e, Inc approximate amount OF tho take,
""'hstgVSHlchtS ana water rates or Other ''.u-
MnlCn are TO be allow cd to tho purch ,.p-
uuL oI me purchase money or paid by .u.
reieree Is slOet.s3 and interest
p"'ed Now York. September -, 1871
HENRY A. FORSTER, FAfsso
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
DIVIDENDS AND INTEREST
THE u a. WHITE MANAGEMENT CoRpo-
40 -. RATION.
=" ENCHANGE PLACE, NEW YORK
..----. MANAGERS
ASSOCIATED GAS AND ELECTRIC COM

. Ine Hoard o. Directors Of ASSOCIATED
oNS & ELECTRIC COMPANY hAa deolersd
a, ulN'l'nd OF one ana one-hRlf per cent
90 ~ on tho Preferred stock OF The Com a
pahN L'r ~ Quarter ending september 30th
.gli ptyn1lo Thursday. October l6th, I9It
20 stochhnIdeTs Of record at tho close ~
nap,mheSh on Wednesday Septernber 9O,h
AVIS T. w MOFFAT. Secretary
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
Demands OF Help for Cotton,

hta .s ICY thet Mr.. McAdoo, in
ecent eHorts 70 compel radical
, Dai,niut uepaFtuIe from those prudent
so.as,S NI,iCn circumstances require. was
,n,. '.''.s tns ei'IoHI rassinent which WASH
s,'su Nes, unuer tho inordinate pres
ha,,. e. '.e u.oIn cotton growers to
80" a,o ,no government 40 something ex-
.'.e.r LOT the rellef or the South.
, w.Aon 70 tnreator'ed WIN heavy loss OF
~ o"ey On TINS year COTTON crop Toward
s Nv enu OF august when the first cotton
oo'tSs enos was heIu ~ washington 10
~ t"e posItion OF the staple IN tho
-, VI MCNuoo spoke words OF
=, - , ulu ol'u tooernesS 10 the advocates OF
o.. 5, ,.'iis"' scnelnes TOT valorizng cotton,
~ u,'eoI ''oNefhlneht loans on cotton
,'o.st 80 me since then the South has
p'I7'vu III l's c'ttls Tor special gov
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
UNITED FRUIT COMPANY.
DIVIDEND No. az,

ouarter'Y dividend Of two per cen, on
we capital "'o"k OF this COMPANY has bean
oeclared, nsFah,' October 18th, 1914. nj IN.
once OF tho Treasurer, 13i stnte street
- '"n' Mass to stockholders OF record at
sds oloss .; hurress Septembe- - to,.
CHARLES A. HUBBARD Trcasurs-
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
FINANCIAL REVIEW
OF THE PAST WEEK
Mr.. McAdoo's Discussion Of the
Money Market and The
Real Facts.
WHERE STRAIN Is FELT

There IL need OF different treatment
or financial and business questions than
that which they have received recently
from Tho Treasury Department There
has to DO recognized FIRST that the world
mas never had TO deal before with such q
terrific factor OF economic arrangement ~
the present war in Europe. Precisely
when the most stupendous conflict In
history broke out the world had advanced
TO an unprecedented stage of economic
compleNity. as result OF which there
exists n more perfect equipment than ever
TO cope with so vast an emergency, but as
a result OF which also tho disrupting
effects OF the war on all economic rela-
tons are more destructive.
The second fact which has TO be kent
IN MIND IL that II the commercial and
financial equilibrium Is to he restored in
our own country due regard must be paid
TO the tremendous disturbance OF business
already wrought and TO the necessity OF
consulting such teachings or experience as
may apply 70 tie present situation in
endeavoring to facilitate the wide re-
adjustments which the war has made
necessary. Action must be- courageous
but as remote as possible from that
recklessne1 which would only invite
disaster
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05

ton. Plus the handicap from which Amer
lean banking suffers by having high
statutory requirements for its scattered
reserves.
There Is no point In celebrating afFu-
ment along these lines There Is every
indication that our bankers as a whole
are doing their duty vol and helping to
their utmost In maintaining trade and in
dustry. Just now, however, the task
which is ahead OF Thorn in restoring those
ample credit processes that conduce 20 the
development of domestic commerce and
manufacture IL to oontrivo as best they may
to bring about more toerable conditions
IN the International money market Upon
the Improvement of tho foreign exchanges,
because the American position IN interna-
tional finance In that of II large debtor
and because this position is now subject
to phenomenal coerCions for II dischar rye
or tho Indebtedness, depends tho relaxa-
ton OF the domestic money market Until
the banking position Is relieved from tho
tension which foreign demands have been
making upon II there can be no sufficient
restoration of those credit facilities which
contribute to the activities OF domestic
business.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05

b. W. JONES. Secretary,
10 Wall Street. New York-Ciiy.
BANki:RS TRUST COMPANY, bcposi,sry,
10 Wall Street, New York City
NORTHERN TRUST COMPANY,
Chicago, III.
GfRARD TRUST COMPANY,
philadelphia, Pa,
NERO ANTll.E TRUST COMPANY.
OLD COLONY Trust COMPANY.
Boston. Mass.
Agents OF Depositary>
WHITE a CASE, Counsel.
IL Wall Street, New York City.
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05
DAILY FINANCIAL CALENDAR.
PN DIVIDEND

TX DIVIDEND
Pei r,isrro-, ". r.,,..,...... SIX. Amt,
Corn pr,J,,,,. ...........,. --- lWqs
Earlo White I,'T n..a, quarterly p:d ~
MN. , Huu,,t'y -. pid Nae
tn,''Y Sb oo'l99n, quarterly gee. md iNT
'"'ed shoe Machinery quarterly bid No
The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-05

By ,Jusrce oaYegan-.l's Va Pi'i 20
Jos, II TTuesdMe, CosgroVe vs. RhfoIF
WIN, Weiss; CosEtovs Bslfour IohH
II Justice weeks--Roonev W. Rooms,
Eoht. y wagner FranSliu IT. 60 81. Ere
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