Nebraska Newspapers

    he Omaha Daily
Bee
VOL. XXXVII NO. 114.
OMAHA, TUESDAY MORNING, OCTOHEU 20, 1907 TEN PAGES.
SINGLE COPY TWO CENTS.
GOLD FROM EUROPE
Nearly Nineteen Millions Engaged
for Shipment to New York.
FINANCIAL SITUATION
Jinn on Banks and Trust Comph
Practically Over.
SHARP,
RISE
IN COPPER
Large Sales Abroad Will Increase
Balance of Trade.
PAYMENT IN CHECKS EFFECTIVE
.Action of Clearing; Mouse Provokes
Little Pretest and Ctiwi
bat Little Iacea
lenience.
NEW TORK. Oct. JR. The principal
v events in the financial district today Indi
cated that the worst of the crisis was over
and that conditions were settling: down to
normal. There were no further bank sus
pensions and report were favorable for
the resumption of most of the banks which
closed temporarily last week. The engage
ment of $18,750,000 In gold from Europe for
importation to New York was followed by
the sunsational announcement of sales of
American copper abroad which will further
Increase the tide of foreign money to this
country to an aggregate of over J".H.0uO,.o.
This, with the rapid rise of good securities
on the Stock exchange, In some cases as
much as 4 and S per cent, and the policy
of the trust companies not to pay currency
for hoarding purposes, all contributed to
strengthen' the feeling In banking circles
and among the public at large. So well
was thu situation in hand that there was
no such scurrying about of leading finan
ciers and hasty conferences as took place
during the closing days of last week. ' J.
Plerpont Morgan waa In touch with the
situation in .his library on Thirty-sixth
street, but did not find it necessary to Cora
down town. s
Bank Ran Practically Ceaae.
Runs upon banks practically ceased,
partly because of recognition that they
'were unnecessary and unjustifiable and
partly because of the policy adopted to
pay large checks only In certified checks
on depository banks. This system of pay
ment worked no apparent hardship and
was the cause of very little protest. Small
checks were paid promptly In currency
and larger amounts where It was demon
strated that currency was required for
purposes ether than hoarding. It Is still
possible for a frightened depositor to trans
fer Ms account from one institution to
another by depositing check In the de
pository for which he now has a prefer
ence, but he oannot withdraw large
, amounts in gold certificates to be locked
In a safe deposit vault, as was the case
'' ' ?nara Ala la Copper.
One the vocational features of ' th
day was the remarkable development In the
copper tredn. The United Metals Selling
company reports .a sharp advance in the
price. Copper,' wfioh they would have
gladly sold ten days ago at 12H cents a
pound, commanded 1SV cents to 13)4 cents
pound today, During the month of Octo
ber the Kales on this company had been
between 80,000,000 and 90,000.000 pounds. The
bulk of sales have been for export, so that
UP to tonight it is estimated that on tho
foreign deliveries during November and
December there will be a return exceeding
f8.0Q0.0OO In gold. Sales by the other copper
interests have been proportionately large.
Wall street, long accustomed to sensations,
resumed its normal condition today and the
thin of depositors waiting at the Trust
Company of America ceased even to draw
the attention of the usual throng on the
financial thoroughfare which scarcely
paused in Its passing.
When the banking day waa ended It was
announced at the Trust Company of Amer
ica that the deposits during the day had
exoeeded the withdrawals by 96.000 and
that the company had been able to collect
S23.000 of outstanding loana so that the
net income of Ihe day's business waa in
creased in cash of It 19.000. There was a
distinct diminution of the run on the Lin
coln Trust company. Leas than fifty de
positors were Ja line all day, though many
of these had waited in front of the com
pany's building on Fifth avenue alnce the
closing laat Saturday. Officials of the com
pany stated that the bank meeaengera who
had presented scores ot checks had de
layed the payment of depoaltora, but that
the run waa about over. The run on the
Colonial branch of the Trust Company of
America, which is the largest branch in the
institution, has ended. The few depoaltora
that came to the company's office on Ann
street today were quickly ' paid oft and
business resumed Its normal routine, Re
ports from trust companies al over the
city late today state that normal conditions
prevail and that Incipient runs on several
minor companies had failed to develop.
Coating of Gold Effective.
The Importation of f27,u00,000 la gold,
which comes largely from London, la hav
ing a moral effect almost aa Important as
Its direct flnanoial effeot. It means that
credit ca be sustained under the 23 per
oant reserve law to the amount of JtJS.OOu.Ouu
and that the bauka will be In position to
keep their cash reserves Intaot even against
considerable demands, The fact that ex
change rates return so quickly in favor
of this country and that the gold waa so
readily obtained is accepted as an Indica
tion that the solvency of American finan
cial Institutions Is not questioned n Europe
It Is believed that much more gold will
coma this way within a short time. The
crisis has come at the moat favorable mo
ra eut for the Importation of gold because
the movement of the crepe has created
heavy sredlt balances la favor of the
Unite States wblch have Dot been dhi-
counted this year br finanoe bills. Anothir
factor Which facilitates the Imports of go) J
Is the large orders for American securities
which reached the stock exchange to4ay
from London and various points on the
oontlaent, Foreign Investors study care
fully Amertoea properties and they are
evidently convinced that sound railway
seoarlUes have touched a level whlohwill
make their purchase profitable. Prices
were sufficiently favorable a week or two
age to Induce a movement of this character
bat It has requited the oriels to bring
ths matter vividly to the attention of
European lnveetors so that In this respeo'
the trouble has bad a certain value aa a
corrective. The newe that American ae
cuiitlea opened considerably higher In the
London market than oa Saturday proved
Oentlnud oa Beeoad Page.)
SUMMARY OF THE BEE
Tuesday, October 20, 190T.
1007
UN MOD
$ T
6r 7
13 14
V) 21
OCTOBER 1907
rut wis thu i MT
12 3 4 5
8 0 10 II 12
15 IG 17 18 19
22 23 24 25 2G
29 30 31 1 '
-st till 7 p. m. Tuesday:
F rl OMAHA. COUNCIL BLUFFS AND
VICINITY Cloudy with posslblq showers
Tuesday; rising temperature.
FOR NKBRASKA Probably showers
Tuesday; rising temperature.
FOR IOWA Increasing cloudiness, with
probablyshowers Tuesday; rising temprea
turo. Hour.
6 a. m
a. m
7 a. ni
ft a. ra
I) a. ni
in a. m
H a. in
12 m
1 p. m
2 p. m
5 p. ni
4 p. ni
6 p. m
p. m
7 p. ni
8 p. m
9 p. m
Pea:.
.... Si
.... n
.... S3
.... 34
.... S
.... 38
.... 41
.... 43
.... 45
.... 49
.... 60
.... 51
.... 60
.... 60
.... 49
.... 4H
.... 47
DOMXSTIC.
Eastern financial situation has cleared
and during Monday the stock market ad
vanced. Gold engagements amounting to
$17, 00,000 were engaged during the day
In New York. Pegs 1
Southwest Is short of cash and on re
fusal of banks of Kansas City and St,
Louis to ship currency the acting gov
ernor of Oklahoma ordered the national
banks, of Oklahoma and Indian Territory
not to reopen Monday. Page 1
The Bankers' Trust company of Kansas
City, which was about to liquidate, sus
pended. It had deposits of $800,000.
Page 1
Pittsburg exchange remained closed
Monday. Page 1
Banks in Nevada reopened and confi
dence appeared restored. Page 3
Certificates on the clearing houses were
Issued yesterday at Boston, Baltimore,
Chicago, Kansas City and many other
western cities. Page a
New Jersey Judge rebukes aged man
who used profanity in presence of a girl
by sending him to Jail. Page 1
United States supreme court accepts
Jurisdiction of the Minnesota case In
volving the conflict between the state and
federal courts. Page 1
President Roosevelt will issue procla
mation proclaiming Oklahoma a state on
November It. Page 1
Fettlbone case has been set for trial No
vember 21. Page 1
Government fijos information against
British-American Tobacco company.
Page 1
BPOKT.
Iowa's foot ball teems will have hard
contests next Saturday. Page 4
POBBIGW.
London market rules eastor oa reports
from New York.. Pag 1
General MaximnlTaky was murdered at
St. Petersburg. Page 1
Eleven persons were killed in the cele
bration of a church festival at Cxarnova.
Page 1
Secretary of War Taft and Mrs. Taft
have a narrow escape fi-om injury in a
runaway. Page 1
Text of the Russo-Japanese treaty has
been received at Washington. Page 1
King Menelek has granted a constitu
tion and a cabinet to Abyssinia. Page 1
XXB&AgXA.
Lincoln banks Join in agreement not to
ship currency and to Issue clearing house
certificates, paying depositors only small
amounts of cash. Page 3
Creamery men ask for better accommo
dations on existing trains or better ser
vice on present ones. Page 3
KOTEKZsTTfJ OP OOEAJT NTSAK8XZPS.
Port. Arrived. BslU.
NKW YORK Roma
NEW YORK Europe
NKW YORK Cledonl
.QUKUNSTOWN.. LuouU.
BY WIRELESS.
SABLE ISLAND. N. S.. Oct. 27 Steamer
Kroonland from Antwerp for New York
was fcf miles east of Sandy Hook. Will
dock Tuesday forenoon.
NKW YOitK. Oct. 27. Steamer Carmanla
from Liverpool for New York was 1,13)
miles east of Sandy Hook lightship at $
p. m. win aau a a. ra. weanesaey.
RUSSIAN - JAPANESE TREATY
WMklagtoa State Department Raw
cetves Copy at Agreement Just
Entered lata.
WASHINGTON. Oct. 2S.-Tbe State de
partment has received a complete transla
tion of the new treaty of commerce and
navigation and fisheries between Russia
and Japan. The department has for the
first time obtained posaesslon of its Im
portant detaila, all the questions betweon
the two governments originating before the
war having now been settled except the
determining of the frontier between their
possessions In the Island of Saghaltn, and
the settlement ot the Japanese clalma for
the maintenance of Ruaalan prisoners of
war.
This treaty follows closely the convention
tn force before the war and provides for
mutual most favored nation treatment In
atead of a tariff; for liberty of residence
and travel; for personal property and the
right to transmit the same; for liberty of
conscience and the burning of the dead,
and for moat favored nation treatment as
to the ownership of land not now open to
foreigners In Japan.
CHRISTMAS BOXES GO FREE
War Department Will Ship Them
Soldiers la Philippines and
Caba.
to
WABHlKUTOPi, oct. ze. tfouowing a
custom inaugurated by the late Secretary
Alger, the War department will again this
year transport free Christmas boxes for
officers and soldiers on the foreign elation.
Boxee for the troops In the Philippines
may be consigned to ths superintendent of
the army transport service in Ban Fran
Cisco and those for Cuba may be sent to
the depot quartermaster at Newport News,
Va.
OKLAHOMA SOON TO BE STATE
President Keeeevelt Will Inu Proela.
bar sixteenth.
WASHINGTON. Oct. .-President
Roosevelt will Issue the proclamation ad
mining the new etate of Oklahoma on 6f.
rday, November 1. The constitution war
'ormally placed tn his bauds by Uovernor
r'rants and a Urge delegation from Okla
homa at 11 o'clock this morning. -
RUSSIAN GENERAL IS SLAIN
Director of Prisons Maximoff.ky is
Victim of Terrorists.
SHOT SIX TIMES BY W0HO
Ska "ays Her Victim Is Punished for
He ran Treatment of Im
portant Political
- Prisoners.
ST. PETERSBURG, Oct. 28. General
Maximoffsky. director of the department
of prisons of the ministry of the interior,
was shot and killed today. The general
was the highest responsible official con
nected with the Russian prisons and It Is
supposed that this was the reason he waa
selected by the terrorists.
A young woman, who has not yet been
Identified, presented herself at the weekly
reception of General Maxlmoffsky and re
mained quietly In the crowded anteroom
until it was her turrl to enter the gen
eral's private office. When , she was In
his presence the woman drew a revolver
and fired seven shots point blank Into the
general's body.
RAFTERS RING WITH PRAISE
Biahop ot London Says Services In
America Were 'Revelation
to Him.
IONDON, Oct. 28. The bishop of London,
tn his sermon Sunday at the Church of the
Holy Trinity, sulci there were several les
sons he had brought back from America.
"There is far greater generosity and trust
between different bodies of Christians and
between schools of thought tn the same
church In America than here," said Dr. In
gram. "It was like going Into another at
mosphere to pass 'from the wrangles of
Great Britain into an atmosphere where
they are unknown.
"It was a great lesson to be present at
the general conference and to see a mil
lionaire from Wall street sitting side by
side with a worklngman, both representing
New York. It was true democracy. There
are no parlor cars In the American church.
'And then, what services . we had out
there! Talk of lively services! Talk of
mechanical ritual! Why, I have heard the
rafters speak with praise and there waa no
sneaking home afterward, deaplrited and
discouraged."
LEC0MTE SAYS CHARGE FALSE
Parlalaa Diplomat Regrets Inability
to Testify la German
Libel Case.
t -
PARIS. Oct. 28. Raymond Lecomte, ex-
charge d'affaires of the French embassy In
Berlin, In an interview In the Matin this
morning with regard to the Harger-Von
Moltke criminal libel trial In Berlin, ex
pressed the grief with which he saw his
name trailed In the mud after an honorable
career of twenty-six years, but says pro
fessional rules precluded his taking action
as he had received no subpoena from either
side. . With the exception of the conversa
tion with Emperor' William on French art,
he.' says all the allegations made against
him at the trial are untrue. M. Lecomte
declares he has never seen Major Count
Johannes I-ynar (In orgies In whose bouse
one witness testified he took part), and
others mentioned at the trial, except a few
times in society. The story of the political
role he Is alleged to have played, M. Le
comte says is equally false.
TAFT HAS . A CHARMED LIFE
Secretary of War and Mrs.' Taft Es
cape lajary from Rnnnway
of Males.
BAGUIO, Oct. 2$. Secretary Tuft and
wife escaped Injury last night from a runa
way of mules while in an automobile with
Generals Wood and Bliss. The chauffeur,
who was going at a great speed, fled after
the narrow escape of the diatingulahed
travelers. Thla afternoon Secretary Taft
attended a feaat given In his honor, at
which Igorrote dances were presented. He
also visited various points ot interest and
Inspected the summer government build
ings. Ha Is said to have determined on the
Immediate development of Bagulo on a
large scale.
O'BRIEN IS GIVEN RECEPTION
Brilliant Aaaemblago at Yokohama
for Introduction of tw
Ambasaador.
"
YOKOHAMA. Oct. 28.-The new Amer
ican ambaaaador. Thomas J. O'Brien, and
bis wife were introduced to the foreign real
Cents of this city laat night at a brilliant
reception given at the realdence of Consul
General Miller. There was a large attend
ance of Japanese and foreigners. Including
embassy attaches. The mayor of Yoko
hama and leading local residents combined
in expressions of welcome from the united
Japanese and foreign interests to the diplo
matic representatives of America.
CONSTITUTION FOR ABYSSINIA
King? Menelek Orders Instltntlon of
Cabinet While Making
the Change.
ADT8-ABEDA, Abyssinia. Oct. H.-Ktng
Menelek has taken an Important step in the
direction of giving Abyssinia a constitu
tional form of government. In issuing a de
cree today providing for the formation of
a cabinet on European lines. Simultane
ously with the proclamation of the decree
his majesty announced ths appointment of
five ministers, who will preside respectively
over the departments of foreign affairs.
Justice, finance, commerce and war.
Mora Tranblo la gonth.
BUENOS AYRES. Oct. 28. The alleged
delay of a Uruguayan veaael, in Uraguayan
water, by Argentina officials has resulted
in some abai? diplomatic exchanges be
tween ths two countries. The Uruguay
government was angry at the incident, it Is
reported, but the affair. It Is expected, will
be amicably settled.
MINNESOTA CASE TAKEN UP
Saprems Conrt af Ualtad States
Graats Petition af Attorney
General Yean.
WASHINGTON, Oct. 23 The supreme
court of the United States today granted
ths petition of Attorney General Young of
Minnesota for a writ of habeas corpus
la ths contempt proceedings against Mr,
Young In connection with the enforcement
of the railroad rate law of that state.
The important question of the respective
jurisdictions ot the state and federal courts
In cases in which state railroad leglalatior
Is Involved, which lias arisen . In many
states, will bsoeaaaiily be considered In
this out
CRIMINAL REFUSES ALL FOOD
For Fonr Yearn (River Curtlaa Perry
Mas Been! Living oa
Llqflda.
NEW TORK. Oct. p. -Efforts which are
being made by a w of his steadfast
friends to have the sentence of Oliver Cur
tiss Perry commuted hnv revealed the
fact that for' four yara the daring criminal
who In 1S!)2 startled the entire country with
tho boldness of Ms train robbing exploits,
has not worn a stitch of rlothlng other
than a togo. Since November 13, 1303, he
has received nourishment through a tube,
not because It was necessary, but simply
because ho determined to die rather than
eat regular prison fare. Terry declares he
will never take a bile of food so long aa he
la In the Dannamore hospital. He clalma
That he Is not Ineano and that he will
prove It If released. He says he wants to
go to some quiet spot and lead a reaped
uhlc life the remainder of his days. The
prisoner Is blind, having blinded himself
In the hope of bringing his relatives to his
aid.
UNION OFFICERS IN COLLEGE
M. B. Haagerty of Montana Studying
Law at t Yale to Perfect
Ability.
NEW HAVEN Conn., Oct. 28.-Mitchell B.
Haggerty, miner and an , official of the
Western Miners' federatlsn, has entered
the law school of Yale university to fit
himself for admittance to the bar of Mon
tana. Ho rxpecta to jiractlce In Butte.
Haggerty Is about 60 years old and the
father of two boys. Mrs. Haggnrty Is here
with him, and she. too will study at Yale,
having chosen sociology and elocution.
Haggerty Is a man of strong personality.
Of average height, he la broad shouldered,
but of rather sparo frame. His smooth
shaven features are Inclined to bo sharp,
but his expression Is frank and friendly.
At the law. school Haggerty refused to
say anything about himself or Mrs. Hag
gerty, savu that they hoped to study for
further usefulness In Montana.
LOCAL OPTION ELECTION ON
Birmingham, A In 4 Storm Center of
Llqnor Flarht la Southern
State.
BIRMINGHAM. Ala.. Oct. 2S. A local
option election to determine whether or not
the sale of Intoxicating Hquors shall con
tinue In this city was held today, and
Intense Interest is being manifest in the
outoome. live thousand white-ribboned
women and children paraded and visited
the various polling places, singing aa they
marched.
This afternoon the prohibitionists were
leading in two of the voting precincts, with
the race close at the other two. If prohlbl
bltion wins all the saloons in Birmingham,
Bessemer, . Ensley and Pratt City, 150 In
number, will have to close.
INFORMATION AGAINST TRUST
Filings Mad by Government After
Seizure of Cigarettes from
Tobaeco Company.
NORTOLK. Octk 1.7.' The Information by
tlxe government for lie forfeiture of 850.000
cigarettes, owned by tho British American
Tobacco company, limited, because ot vio
lations of the Sherman anti-trust law, was
filed in the federal court this afternoon.
It chargua the company "was created aa
an Instrument- for the special purpose of
iefeatlng and violating the laws of. ths
Unltod States and carrying into effect the
said unlawful contracts, agreements, com
binations and conspiracies with the several
American Tobacco concerns."
BOYCOTT CASE TO BE TESTED
Washington Court Calls Federation
of Labor to Account for
Its Tnctlcs.
WASHINGTON, Oct. 28. Chief Justice
Clabaugh of the District ot Columbia su
preme court today Issued a rule on appli
cation of the Buck Stove and Range com
pany of St. Louis against the American
Federation of Labor to show causa, on
Friday, . Novemher 8, why an injunction
should not issue against It and its subor
dinate organizations to prevent the pub
lishing of the company's name on Its "We
Don't Patronize" list and. in other ways
harassing the company.
ALFONSO T0JISIT ENGLAND
Spanish Kins? and Suite Are on
Way to Visit Kla
Edward. .
PARIS, Oct. 2$. King Alfonso and ht
suite passed through here today on his
way to England. President Fallleres wel
comed him at the station.
King Alfonso thla evening dined with
the president, after whloh there waa an
entertainment. The royal party left at
midnight for Cherbourg, where they via
embark tomorrow for EngUuj en board the
British battleship Renown,
MOB IN PURSUIT OF NEGRO
Mississippi White Men Shoot Brother
of Bob Meyers. Who is
Wanted.
CARROLLTON. Mlsa., Oct. ti Posses In
pursuit of Bob Meyers, the negro who shot
and killed the sheriff of this oounty. have
tracked him to a negro settlement near
Duck Hill, Mlsa. If captured a lynching
la looked for. A brother ot the fugitive,
when ordered to lead his captors to th
fugitive's hiding place, tried to escape and
waa shot and mortally wounded.
CHURCH CELEBRANTS KILLED
Eleven Persona Dead as Result of
Fight la Tillage of
Csarnova.
BUDAPEST. Oct. 28. During a church
festival In the village of Csarnova yester
day, a conflict arose between factlona in
the congregation which led to the Inter
vention of the gendarmea. A free fight
eneued, tn which eloven pereons were killed
and a score wounded.
PETTIBONE CASE FOR TRIAL
Judge Wood Sets Date as November 111
and Mar Bend it Over
Term.
BOISE, Idaho, Oct 2.-Judge Wood to
day set the Pettlbone case for trial Novem
ber IL He aald that if the case was further
delayed he would continue It to the January
term.
Branch Ofllees Meonened.
CIIICAOO. Oct. 2. The Western Union
TelKiaph company today, for the first time
slnca the strike of telegraph operators, re
oponed a number of branch offices in this
city. Within ths last two days twenty-nine
operator have returned to work In this
uily auj twenty-six In tit. Louis.
Lest We
V. a. ft Li.au, ketnesa.
. aaAoecantsK
DEMOCRATIC STATE CERTRAL CCMITTEE
r rur Mrtarttf
' D wmsjui I.'ise.-t4
. taxing"
:::::r:-.r..teS3
'1 .MA.TT C.fc.
M ....t.t-.
LINCOLN HOTEL, LINCOLN. NEBRASKA
ax earn va committbr
. a miss, c
a a vuaaust
Lincoln, Htbr.,
Oot. !, 1906.
rjeef 31rt V
t enclose jou hersvlLh a copy of art editorial anion appears
la the Blair Pilot, a republican paper. I think thla Is good stuff ,
and if you oan tin A spaos for It or f rase up an editorial In your
own language oonvsylng tho aaas Idea It will b effeotlte.
Ths republican platfora has a 'Tsntlnal Taxation" plank thatt
will give to Oaaha tho benefit of all tho terminal taxes instead of ;
distributing tho saae out over the ontlro state as 1 now done. If
tho republican platfora la enaotsd Into law It will ean that every
town In tho state will lose their proportlonato share of the railroad
taxss and that Oaaha will be the bensflolary. Tho Oaaha Bee has
already pledged ninety republican candidates la the legislature on)
this proposition. Tho other republican candidates refused to give
their assent. to. the soheaev I think this lo Important.
laurtruly,v
...... Cnalrmn.
VOTE This is the ten-tale letter that proved conclusively the alliance of the
Dsmoormts with the railroads In last year's campaign. Chairman Allan completed
his bargain later by delivering- to the railroads the votes of every fas loo legislative
member, except four whom he could not oontroL and recording- them against ths
terminal tarn bill. Chairman Allan Is still the democratic state chairman la charge
of ths fusion campaign this year.
SOUTHWEST SHORT OF CASH
Oklahoma Banks Sid Not Open Today
for This Cause..
SUPPLY OF MONEY WAS CUT OFF
Kansas City end St. Louis Institu
tions Uecllned to Send Money
Kansas City Trust Com-
Susnenda.
OKLAHOMA ' CirY. " Okl.. Oot 28.
Kvery bank In Oklahoma, City remained,
closed today, . in accordance ' with ofdors
leaned by . Acting Territorial Governor
Charles Fllson. it la understood that the
order affecta all national - banks in Okla
homa and Indian Territory.
The action was taken because the baaka
of Kansas City and SL Louis ret used to
forward cash to the banks of the south
west. It is said that a telephone consulta
tion of many ot the bankera ot Oklahoma,
Indian Territory, Arkansas and Texaa took
place during the early hours this morning
and that all decided upon similar action.
There baa been uneaslneas in this city
and the bankers say the deposits laat
week were greater than at any prevloua
week in the month. The closing Is for the
purpose of protection in case of a run.
Since the banks here could not get cash
from Kansas City in case of a run, they
considered the risk too great.
The 'banks
of this city are carrying many of the
small banks of the territory. They have
arranged to Issue clearing house certifi
cates for ths present.
The banks of the southwest are further
embarrassed because of the demand for
cash to move the cotton orop.
. The Governor's Proclamation.
The governor's proclamation follows!
Whereas, it appears to the undersigned
acting governor of the territory ot Okla
homa that all of the leading cities of the
United States through their clearing house
associations have entered Into a agreement
to protect themselves against conditions
which they are apparently unable to con
trol and by such concerted action are re
fusing to ship currency to country banks,
whloh deposits with them or to honor the
bills of lading drawn upon the banka of
such, or to pay checks of cuatomere over
the country, and,
Whereaa, such action makes it impossible
for the banks of Oklahoma to meet the
Immediate demands upon them for cur
rency to pay for the cotton and other prod
ucts of the territory, and.
Whereas our banks appear to be In a
solvent condition.
Therefore, be it ordained that a legal
holiday extending from October 28, six
days, to November t, be proclaimed.
(Signed) CHAHLKS FILiSON,
Acting Governor.
BANKERS TRUST CO. SUSPENDS
lastltatlom Refaeed Clear lag- noose
Certificates at Kansas City.
KANSAS CITT. Oct. M.-The Bankera
Trust company, with deposits of $300,000.
Hughes said that they had decided to close
temporarily because the Clearing House as
sociation had refused to extend to them
the privileges granted the thirty other lead
ing banka here ot Issuing clearing bouse
certificates.
The Bankers Trust company had aaked
aid from the clearing houae, but it was de
clined because of ths class of collateral of
fered. James F. Downing, president of the Clear
ing House association, said that no other
banking institution here had requested aid
and he believed them In a sate condition.
Ths Bankers' Trust company was organ
ised last year, and had a capital of S600.
000 and a aurplua of 114,000. It took over the
business ot the City National bank, which
tailed In July, 19U6. The Bankera Trust
company was not a member of the clearing
house, and while no run was experienced
at thla bank at the opening of bualneaa this
morning. Itwas decided that a temporary
suspension was necessary to protect de-
posltors and stockholders. Cashier Hughea
said that the bank had ample aaaeta to
meet all liabllltiea. Ita foreign correspond
ents are the Oriental bank of Nsw.York,
and the Prairie National bank of Chicago.
There was no appearance ot anything like
a run at any of the other banks up to
10:30 a. m. Members of the Clearing House
association today ordered their correspond
ents in the southwest by telephone to re
strict payments to depositors until the
present flurry bad passed, and ths indica
tions were that this advice would generally
be accepted.
Ths Bankers' Trust company was taken
la charge by W. C. Irwin, who had been
Forget
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sent hero by Secretary ot State Swanger.
The bank closed upon the advice of Mr.
Irwin and It will liquidate. He said the
concern had been planning for several
weeks to liquidate and under ordinary con
ditions It would have been able to do ao.
It developed that the SL Loula Clearing
House association, aa well as the Kansas
City association, had refused to give even
temporary aid.
A statement of the condition of the Bank
era' Trust company at the close of business
Saturday night last showed: Loans and
discounts, $053,701; Stocks and bonds, $698,
581; cash and sight exchange, 1114,647; de
posits, 1708,246. There was but 18,000 cash
on hand when the bunk opened thla morn
ing. - .
, NEW TORK, Oct. 28.-The Bankers Trust
Company has a cr rtt balance with the Orl.
ental bank, which Is Its New Tork cor
respondent. Caahler Adams of the Oriental
bank said: -
''The Bankera Trust has a moderate credit
balance with the Oriental bank. The sus
pension can in no way affect the Oriental
bank."
LONDON MARKET STAYS FIRM
Confidence Kelt In Soundness of Pl
uanotal Situation.
LONDON, Oct. 28. The conlldence felt
here In the general soundness of the finan
cial situation in the United States was fur
ther evidenced at the opening of the stock
exchange this morning when American
railroads were pushed up two to three
points over parity, a fair amount of busl-
' ness being transscted. The certainty of a
drain of gold from hero to New York,
however, affected consols and other gilt
edged securities. Discounts remained firm
and the feara of dear money prompted tho
selling of consola, wblch early in the day
declined 6-16. In some quartera it waa
thought that tho Bank of England's rate
of discount might be raised today, but the
abaence of an advance at noon caused a
recovery of hi. Copper ruled strong on a
audden lncreaae of over J 15 per ton in the
price of the metal.
The United States secured all the bar
gold offered today In the market, totaling
nearly G,000,000, The price paid was (19.50.
This Is 8'.i cents higher than previous quo
tations. Indicating the keenness of the com
petition. Both Paris and London bid
against the United States.
CERTIFICATES I.V KANSAS CITY
Banka Agree to Hold Down Cash Pay
ments to Customers.
KANSAS CITY, Oct. 2S.-There was no
appearance of a run on any of the banking
Institutions whan they opened for business
this morning and the leading bankers re
Iterate that they have complete confidence
In the situation. The clearance house yes
terday having decided to Issue certlflcatea,
that action waa put In effect today. It ap
plies to thirty principal local banka and
trust companies. The rule not to pay over
th counter caiin ,n MC. of 100 a day
or
$300 a week to any one customer on open
account was put Into force also and cur
rency shlpmenta to the country correspond
ents was stopped temporarily. Trust com
panies and savinga banka likewise enforced
the time rule, agreeing to pay out not to
exceed 130 a week. Similar action was
taken at the banks at Kansas City, Kan.,
and Rosedale and Argentine, Kan., suburbs,
and at none of these places was there any
early excitement.
TRADING AT DILITH SUSPENDED
brala Kxraana-e Close e Time
Owing to Condition of Market.
DULUTH. Mlon.. Oct, 28. Trading In
grain was suspended on ths Du.uin board
of trade this morrdng owin to the money
conditions. No Sales were made in either
caih gralB or tn, optlon, tnl, morning,
although the trading room was open and
th membr, on the floor. Business will
not b, resumed until condlUons Improve,
an(1 the country elevators are being ad-
vtMd not to buy grain,
kEW YORK. Oct. MTh. rt..
prices
Wheat declined sharply this morning on
news of a 4-cent break in prices st Minne
apolis. QUIET PREVAILS AT PROVIDENCE
Banking
Heases Had I anal
Apaear-
anee Darin Day.
PROVIDENCE. R. I., Oct. 2.-Banklng
houses had a normal appearance today.
At the beginning of bualneaa there was no
evidence that any of the aavlngs InatHu-
tlons would be subjected to any unusual
'. number of wlthdrawala
It AS KS MA KELP CASH
Depositors Uie Checks' Which Ara
Accepted by Merchants.
PLAN OF BANKS A SUCCESS
Certificates Simply a New Medium of
Exchange in Omaha.
1
NOW $46,000,000 BEHIND CHECKS
Resources Increased in Anticipation
of Shortage in Money.
OMAHA FINANCIERS FORESAW IT
Patrons of Banks Demanding; Wltk
' drawn! of Fonda , Uet Some
Cash and Remainder la
the Certificates.
For the first time In the history of bank
ing In Omaha financial transactions ot
practically all depositors were made with
checks Monday and the city was given a
new currency of certified checks or clear
ing house certificates. Just as sound as the
H6.(j00,0OO ot resources of tho Omaha banks
behind the checks, can mako them. If
any person feared a "run on the bank"
he was disappointed. Calmness prevails.
When the first day's business was fin
ished, depositors satisfied, the new medium
in circulation and tho doors closed, bankers
declared the plan of the clearing house to
be an admirable one for keeping the actual
cash In Omaha, and said they snticlpatea
no trouble or excitement. The demands for
payment of cash tho first day were light.
The total would not exceed by many
thousand dollars the average Monday.
The system adopted by the bunks worked
satisfactorily for the first day and will ton
continued at least until Baturday, Novum-,
ber 2. Some few depositors who attempted
to withdraw their accounte to the last
dollar went out of the banka carrying a
little money and aomo certified check",
convinced that the checka were Just as
as good to them as silver dollars, gold
plecea, or $T and 110 bills. But little trouble
was experienced In explaining the situa
tion to customers and convincing them that
'they did not need to withdraw the actuul
money. For the first time hundreda dis
covered that they did not really need
metal and paper nionty with which to
pay bills and they decldud to use th
check books more freely.
Following the action of the CI earl n
Houae association Sunday evening, when
banks of Omaha decided to act In aocorrt
with other cities and keep tho actuul
money in the vaults to as great sn extent
as posslnio, too nanus 01 uniaim u
Issuing certified checks and clearing houst
certificates, instead of paying out tin
money.
Smaller checks were paid in full by some
of the banks. Others kept rigidly to the
clearing house rule not to pay over iuk
in cash , to, any depositor., or more than
20 per cent on any .account of $"00 or less.
At the Marmara Beaks.
When the City Savinga bank opened it.
doors Monday morning depositors were re
quired to give the notice .provided by law
of sixty' days before money could ba with
drawn. No money was paid over the coun
ters of the City Savings bank Monday, It
being the first time in the history of the
Institution that depositors were not paid
their accounts in full, though the bank
has always had the privilege ot requiring
notice of sixty days for withdrawing any
money.
At the commercial state banks, such as
those conducted by J. L. Brandets dt Son
and Hayden Bros., the clearing house rule
was adhered to and psyments made pro
portionately In cash and certified checks.
As both the banks have large deposits In
the national banks of Omaha, ths Clearing
House association Issues to them the reg
ular clearing house certificates or recog
nizes checks certified to by them.
In addition to arranging with the clear
ing house to handle checka and certlflcatea.
tliettg department atores with which th
banks are connected, accept personal check
for merchandise, us welt as the certificates.
These checks they take at all departments
in exchange for merchandise, but without
expecting to receive money for
them. The - department stores, with
unlimited - resources, do not need
the money any more than the deposi
tors and deposit the checks in the bank,
the amount being placed to the credit ot
the department store.
It Is likely the larger retail stores wir
deposit only the checks thoy receive ant1
keep from the barks unusually lars:
amounts of money which pour into theli
cash registers, for the convenience of th-li
First Find Needs of Patrons.
Arrangements for giving depositors tn th.
City Savings bank certified checks or clear
ing house certificates which will be equlva
lent to their money have not yet beet
made. President Flack sail he would firs
And the needs of his customers and th.
needs would be met. Few depoaltora nee.
their aavlngs and bankera believe they wl)
be better off without them for a time. Bu
it is the intention of the savings bank t
make arrangements should emcrgancle
arise to treat every customer fair and be
fore the weok ends the bank may be laauln.
a check or certificate of some kind whu:
will be legal tender In Omaha for a tlm
although the bank haa a perfect right un
drr the law to hold all motley for slxt
dsya, or until December 28, If the deposlto
gave notice Monday that funds war
wanted.
The official statement of the directors t
the City Savings bank, who met Monda
morning before the bank opened, reads a
follows: ,
Owing to the fact that New York, Ch
cago, HI. Louis and practically all ot tl
oilier clearing houses In the United State
Including Omaha, have decided to lusi
clearing house curtltlcatca and have d.
(lined to pay oat currency, the City 6m
lngs bank decided, that It was best to r
quire Its depositors to give notice on tl
withdrawal of money on and after M01
day, October 28, l'JOi. The directors bell
that this will only be temporary and th,
In a few days they will be able to arttu,
matters so that their depositors will ha.i
clearing houae funds. While Ihe bank f,
plenty of funda in other banka and flr
class hlxh-grade securities, yet it Is deem,
to the Lof-t Interests of its depositors ai
for the people in neutral tliut this acti.
be taken st this time. , ,
YELLOW YARN STRONGLY DEN IF.
Krealsg Plaklet's Tale af Lit
Ive Stl.
ted. I
Emphatically Repudiate
One of the contortions of the Even,
Plnklet yesterday over the banking sltii
tion waa a yarn about the packers of Soj j
Omaha refusing to buv mule T 1.
, is denied by the packers, by ths Live 8tv
exchange and by the nguree ot the da.
. bualneaa
I "There
There was no ground whatever for t