Newspaper Page Text
-A*- S.'
VOLUME XIII.
ATLANTA. GA.„ FRIDAY, DECEMBER 26, 1913.
NO. 27.
SUITE EXPECTED TO
1 REGIONAL BIX
Every Institution Will Follow
Lead of Those in Atlanta
and Enter Federal Reserve
System, It Is Believed
Cupid Wary YEGGS SEIZE GUN.
In Atlanta
TRis Year
THE DAY AFTER XMAS
—BY WEBSTER
Fearing Increased License
Cost and Agitation for More
Stringent Divorce Laws Is
Given as the Cause
It was accepted as a fact generally
Wednesday morning in Atlanta that
every national bank in the state of
Georgia, of which there are 114* will
fall in line with ttye national banks of
Atlanta, enter the federal reserve sys
tem under the new' banking law r and sub
scribe to their pro rata part of the cap
ital stock of the regional bank. Thi3
means the national banks in Georgia
will take, in all, 51,403,070 in regional
bank stock, or over 33 1-3 per cent of
the minimum capital fixed by the ad
ministration, currency legislation.
It was obviously impossible to ascer
tain definitely how many of the state
banking institutions would avail them
selves of the privileges offered by the
currency bill for them to accept Its
provisions and subscribe to the capital
stock of a regional bank. It was be
lieved, however, that many leading
state banking houses would accept
gladly the opportunity, and, in this
event, the financial institutions of
Georgia, state and national, may sub
scribe upwards of $3,000,000 to the cap
ital of a regional bank.
The action of the Atlanta dealing
house banks, in anticipating the final
passage of the currency bill, by voicing
their unanimous confidence in the
measure, coupled with the decision of
the Atlanta national banks to enter
the federal reserve system and take
stock in a regional bank, had a tre
mendous effect throughout the stte.
CONFIDENCE IS REFLECTED.
Their confidence thus expressed was
reflected generally .in reports' received
Wednesday from all sections of Georgia
with reference to the passage of tbe j.
legislation and its approval by Presi- |
dent Wilson.;
It is believed the Atlanta clearing ;
house banks were perhaps the first In
the United States to formally indorse
the currency legislation. The failure
of their indorsement, with the sub
scription of the national banks to re
gional bank stock, to first reach the
treasury department was due to un-
aboidable telegraphic delay between At- j
lanta and Washington. As it was, the j
resolutions of the clearing house banks
were among the first to reach Secreta
ry McAdoo.
The directors and stockholders of the
national .banks of Atlanta, as soon as
formal notice is received from the treas
ury department, will formally ratify the
action to which their representatives
committed them at Tuesday’s meeting
of the Clearing House association. The
stockholders, on the recommendation of
the directorates of the several national
banks, will authorize formally each in
stitution to enter the federal reserve as
sociation, and this action will automat
ically pledge each bank to subscribe its
prorata part to the capital stock of a
regional bank. Under the terffrs of the
bill, each member bank of the federal
reserve association must subscribe 6 per
cent of its capital and surplus to re
gional bank stock. As, was shown in
The Journal Tuesday, in the case of the
national banks of Atlanta, this sub
scription will amount to $516,000.
SUBSCRIBE 6 PER CENT.
The totatl capital and surplus of the
national banks in Atlanta amounts to
$S,600,000, and the capital and surplus
of the national banks in the state, ex
clusive of Atlanta, $14,792,345, so the
national banks outside Atlanta wkill
take $887,550.70 of stock in the regional
reserve bank.
The latest available data concerning
the state banks in Georgia, of date of
November 26, 1912, shows their capital
and surplus to bey$36,002,755.67. If all
of them should decide to enter the fed
eral reserve system, each bank would
subsoribe 6 per cent of its capital and
surplus to the capital of a regional in
stitution, or a total of $2,160,165.34.
Each state bank will decide for itself
whether it will or will not enter, the
federal reserve system. Under the
terms of the act, it is not compulsory
that any of them shall enter the sys
tem. The law, however, contains ample
provision to .take care of them, and
holds out what its framers believe to be
a sound, fair and equitable means by
which they may share the benefits and
opportunities of the measurt. It does
not require that they shall yield their
state charters and nationalize, but it
does provide that, if they accept its pro
visions they shall hold themselves sub
ject to the same regulations, require
ments, examinations, etc., as now relate
to national banks.
Cupid hasn't been*on the job as con
sistently in Atlanta this year as lost,
according to the records In the ordi
nary’s office which show a uo-
crease in marriage returns.
The explanation of the clerks about
the office is simple. They call atten
tion to the fact that the price of mar
riage licenses was increased at the be
ginning of 1913 from $1.75 to $2.26.
One widower, in fact, who called at
the ordinary’s office some months ago,
at first asked for a license, but posi
tively refused to take it when he was
told the price was $2.25. He told the
astonished clerk that he was married
once for $1.75 and that he wouldn’t
pay extra for the second wife.
The number of marriages has de
creased, believes Ordinary John R. Wil
kinson, because of the agitation to
make more stringent the divorce laws
and also because of the publicity giver
to the remarkable number of divorces
sougnt and obtained in the county dur
ing the present year.
“This agitation, showing the great
number of unhappily married people,”
the ordinary says, “has had a tenden
cy to make young people stop and think.
They realize that marriage is not a cer
tain happiness. That is the only cause
I can see for the dcrease in the num
ber of marriages.”
The records show that up to this
time last year there werey 1,808 mar
riages performed in this county, while
during 1913 there have been only 1,699,
or a difference of 109 marriages, de
spite the increase in the population of
the county. The records show only the
marriages among white people, as no
count of the negro marriages has been
made. They, too, will probably show
decrease, according to clerks in the or
dinary’s office.
Marshal Oliver, of East Point, j
Is Attacked by Three Men
He Had Arrested for Blow
ing Safe
REBELS TAKE TORREON; ■
HEIW LOSS OF LIFE
(By Associated Press.)
JUAREZ, Mexico, Dec. 25.—After
heavy fighting at Torreon, the rebels
have retaken that city from the federals,
according to reports brought by cour
iers to day rrom Jlralnez, nairway De-
tween Chihuahua and Torreon.
The reports said that 12,000 men had
been engaged, there was much loss of
life, and that General Monclovlo Herra,
the rebel commander, had -been wound-
j
Government Troop Train
Dynamited by the Rebels
MEXICO CITY, Dec. 25.—Unaware
of the presence of northern rebels at a
point so far south, a train carrying a
detachment of government trops on a
tour of exploration ran over a rebel
dynamite mine near Charces and was
practically destroyed. A majority of
the federals who escaped death in the
explosion were killed afterwards by the
rebels.
Charces, which is inow occupied by the
rebels, is just north of San Luis Poto-
si, and is the farthest point south to
which the northern rebels have ad
vanced;
$5,000,000 New Gold
Will Find It's Way
Into Banks' Stockings
(By Associated Pres®.)
V\ ASH1NGTON, Dec. 25.—’More than
*5,000,000 worth of bright new gold and
silver pieces of 1913 mintage, most of
which will find its ways into Christ
mas stockings tomorrow morning, has
been distributed by the treasurv this
month to banks throughout the coun
try.
But there is one 1913 coin which no
one will receive. It is the 50-cent
piece. None were minted this year be
cause the supply on hand is ample
to take care of all calls for that de
nomination. In this connection atteen-
tion was called by treasury* officials to
tiie fact that the 50-cent piece is losing
in popularity and for the same reason
as the *2 bill, namely because of er
rors in changing as compared with the
quarter or the *1 bill.
It is believed that in time the 50-
cent piece may go out altogether, as did
2 and 3-cent pieces and *3 gold coins.
Beginning about December 1 and last
ing until almost Christmas day, there
has been a constant call on the treasury
this year for new money which banks
and merchants' all over the country
want for their patrons, so that the
treasury, sub-treasuries ana mints are
dralnd of the current year's money,
that finds its way back soon after New
Year, because half of the money coined
during the year is rushed into circula
tion uj the month preceding Christmas.
JACOB ESTRUP DEAD;
DENMARK POLITICIAN
(By Associated Press.)
COPENHAGEN, Dec. 25.—Jacob
Broennum Scavenius Estrup, for many
years the leading politician of Denmark
djed here today. For nineteen years—
from 1875 to 1894—he was premier and
finance minister in the Danish cabinet.
Estrup, together with the king of
Denmark, defied parliament for many
years, when it demanded that the mon
arch should choose the ministers of
state from among the representatives
of the people. On many occasions Es
trup dissolved the chambers when
they refused to pass his budgets and
the finances of Denmark were kept in
order by means of provisional laws.
During practically the whole of his
term of office the majority in parlia
ment was against him.
GOTHAM FIRE FLEET
WILL HAVE WIRELESS
(By Associated Press.)-
NEW YORK, Dec. 25.—Control of the
fire department’s fleet of eleven ves
sels by wireless is the latest extension
of the fire alarm system of New York
City, according to announcement by
Fire Commissioner Johnson.
The first boat James Ruane, first of
the fleet to be equipped with the appa
ratus, yesterday responded to orders
from headquarters to respond to an
alarm and while proceeding at full
speed' she got another order to return
to her station. In less than two min
utes a reply was received that the ves
sel was putting about.
Arrested as suspects a short time
alter they are said to have blown the
safe at the Atlanta and W r est Point
depot at East Point, and while, it is
believed, they were preparing to com
plete the looting of the suburban town
by blowing the safe of the bank and
the postoffice, three daring yeggs
escaped late Tuesday night from Deputy
Marshal T. M. Oliver, * of East Point.
Oliver found three suspicious looking
characters lurking in the darkness in
the railroad yards about a quarter of a
mile from the depot late at night. He
did not then know that the depot safe
had been blown by a charge of nitro
glycerin, but when the men could give
no satisfactory reason for their pres
ence in the vicinity he placed them
under arrest.
With one of the suspects at his side
and the other two walking in front of
him, Oliver started for the city jail.
OFFICER' IS SEIZED.
They had walked about a hundred
yards, when, with one accord, the two
yeggs who were walking in front,
turned • quickly and seized the officer’s
hands, while the man beside smashed
him over the head, according to the re
port.
The suddenness of the attack took the
officer completely by surprise, and In a
few seconds the yeggs had wrested his
revolver from him. They all then fled,
making no attempt to further injure the
deputy.
Oliver, shouting lustily for assistance,
gave chase to the yeggs, despite the fact
that he was unarmed, but they soon out
distanced him.
SAFE IS BLASTED.
On returning to the depot he found
that the safe had been demolished by
the explosion of a charge of nitroglyce
rine. Books and papers were scattered
around the tiny depot office, and the
cash drawer of the safe had been rifled
of all the money it contained—$12.
Johnson, searching In the vicinity of
the spot, where he first saw the sus
picious looking characters, found two
bottles of nitroglycerine, or “soup,”
which had been tossed away by the men
at his approach.
His own and the investigations of
other officers developed circumstances
which make the East Point officials pos
itive that the men when surprised were
preparing to blow the safe of the bank
and the postoffice. Entrances to both
places and evidently been tampered with
during the night, according to the re
port, which reached police headquar
ters. The East Point officers, are
confident that the men would have com
pleted two mofe “jobs” during the
night if the officer had not chanced to
interrupt them.
The men disappeared in the direction
of Atlanta, and the city detective de
partment has been furnished with a
gobd description of the three men by
Deputy Oliver.
The blowing of the depot safe and
subsequent escape from the marshal or
the three men has caused great excite
ment in East Point.
! y
'STRAM6-B hoohh has
OFFER-EDTa HELP ME
The Dishes today.
OUST bEFORlr XMAS
THEY V^ouLDTiT LET
ME COME MBAS*.
■DISMRAN "
1 LIST OF CITIES
PTY(
ARCTIC WIRELESS SENDS
OUT FIRST CALL FOR AIR
“S. 0, S,” Signal Tells That
Norwegian Bark Had
Gone Ashore
TRADE STIMULATION
IS URGED BY COMMERCE
(By Associated Press.)
WASHINGTON, Dec. 25.—By the
overwhelming vote of 624 to 3 constit
uent members of the chamber of com
merce of the United States in* a refer
endum indorsed in* the main tne plans
of Secretary Redfield, of the depart
ment of commerce for more direct stim
ulation of commerce through the bureau
of foreign and domestic commerce in
his department.
Secretary Redfield has asked con
gress for $759,630 for use during the
coming year, about half of which will
be expended on the work of commer
cial attaches and commercial' agents
of the United States in foreign coun
tries.
Another referendum of the chamber
of commerce to establish a bureau of
bureaus of legislative reference and
bill drafting in Washington to over
come difficulties experienced by con
gressmen in the preparation of bills, is
still being held.
TELEQRAPH OPERATOR IS
KILLED IN MAN’S HOME
(By Associated Press.)
SYRACUSE, N. Y., Dec. 25.—Frank
Kenyon, a railroad telegraph operator,
was shot and killed at Amboy early to
day in the home of Albert Webster, a
young business man. The sheriff is
searching for Webster, who is charged
with the killing.
According to members of Webster’s
family, they were awakened before
daybreak by the sound of a pistol shot
In their parlor. They rushed down
stairs and found Kenyon had broken in
the front door and taken possession of
the parlor. As Webster entered the
room Kenyon took a shot at him, but
missed. Webster, who had armed him
self, returned the shot, killing the tel
egrapher instantly.
No reason for Kenyon’s intrusion is
given.
LONDON, Dec. 25.—The first wire
less call for help ever received from the
arctic circle is told about in the York
shire Observer today.
“Bergen is working ‘S. O. S.’ Wait
and listen,” the paper states, was the
message which went the round of Eu
rope’s wireless stations at 1 o’clock
Tuesday morning. All did as requested,
and the fact was then established that
the Norwegian steamship Saervald Jarl
had gone ashore on the Lefeden Islands,
600 miles, north of Bergen, Norway.
This is double the working distance
of the ship and to enable Bergen to
communicate, all stations were asked to
close down so that the faint signals
might be read. No more definite news of
the accident is yet to hand.
Stefansson Explorers
Send Valuable Exhibit
OTTAWA, Dec. 25.—Besides reporting
the safety of the scientists and mem
bers of the crews of the Alaska and
Mary Sachs, two of the vessels of the
Stefansson exploring expedition, Dr. R.
M. Anderson, chief anthropologist, sent
word to the government today that he
had forwarded to the director of the
Canadian geological survey some valua
ble specimens of birds and mammals
which be collected in the arctic. The
other scientists are also sending reports
of their work to the survey.
The party is wintering at Collinson
Point,*fifty miles from Flaxman island,
in the arctic circle.
In describing the trip north from
Nome, Dr. Anderson says that the Alas
ka, the vessel of which he was com
mander, left there on July 19 and put
into Teller five days later tp be over
hauled.
Rougfh weather was experienced on
the trip and the first ice pack after
leaving Teller was met at Point Belcher
on August 19. Flaxman island was
passed on September 6 and on that day
i they saw the masts of a schooner a few
[miles distant. This schooner was found
j to be the Mary Sachs with Kenneth
i Chapman, a geologist. In. charge,
i The two vessels reached Collinson
I Point on September 27. It was then de
cided not to go further until the spring.
! On the shore was a large log hut built
j by a fur trader about two years ago.
; The hut promised, to make ideal winter
! quarters.
University Diplomas
For 12 Who Left Books
For Confederate Army
(Special Dispatch to The Journal.)
ATHENS, Ga., Dec. 25.—•Those stu
dents of the University of Georgia who
counted service In the Confederate army
daerer than college honors wljen the
can came for volunteers in thk Civil
war, were sent as Christmas gifts to
day the diplomas they missed by enlist
ing.
Although many of the university stu
dents left college to enter the armyy the
addresses of only twelve are known to
the trustees, and to these diplomas have
been mailed. They are:
James Norwood Belcher, class of 1864,
Calhoun Falls, S. C.
James Dudley Thomas, class of 1963,
Rome, Ga.
Henry Hlllyer, class of 1865, Atlanta,
Georgia.
George Baber Atkisson, class of 1861,
Maxeys, Ga.
John Hampden Belcher, class of 1861,
Benton, La.
William Marcus Middlebrooks, class
of 1862, Atlanta, Ga.
John Waring Weed, qjass of 1864,
ew York City.
Edwin Gardner Weed, class of 1865,
Jacksonville, Fla.
John Irvine Stoddard, class of 1864,
Tacoma Park, Wash.
Matthew Pierce Briscoe, class of 1863,
Athens, Ga.
Gideon Dowse Harris, class of 1884,
Columbus, Miss.
Edwin Leigh Wight, class of 1865,
Smyrna, Ga.
“Third Reader” Finds
Its Way Into Prison
(By Associated Press.)
HUNTINGTON, W. Va., Dec. 25.—A
school within a prison is conducted in
the Cabell county jail, where every day
C. V. Fitch, a veteran school teacher
of eastern Kentucky and a prisoner
himself, instructs a class of twenty
mountaineers, all serving terms for
“moonshining,” in the fundamentals of
school work.
Already the rought mountaineers have
progressed asfar as the “third reader.”
The majority of the class could neither
read nor write when they began their
terms.
WAYCROSS REALTY BOOM
Assurance of Prosperity
Prompts Syndicate to Grab
Property to Improve
(Special Dispatch to The Journal.)
WAYCROSS, Ga., Dec. 25.—As quick
as news that President Wilson had
signed the currency bill reached Way-
cross last night, realty deals whereby a
Georgia syndicate secured possession of
approximately 15,000 acres, most of
which is located in the Waycross dis
trict, were closed and plans started for
the expenditure of not less than $250,000
for developments.
The syndicate proposes to erect mod
ern houses on tracts ranging from 40
to 200 acres and place the cleared tracts
on the market for colonies, a number of
which have been listed for settlement as
soon as the houses are ready for occu
pancy. A Waycross concern handled the
deal and it is reported that another
proposition calling for 30,000 acres,
mostly in southeast Georgia, will be
closed for Chicago 'capitalists.
BOLL WEEVIL OUTLOOK
DECLARED GLOOMY
WASHINGTON, Dec. 25.—General
Thomas C. Catchings, of Vicksburg,
Miss., formerly a member of the house
of representatives, who Is here, takes
a rather gloomy view of the cotton boll
weevil situation in the south, particu
larly in Mississippi. It looks, he de
clares, as if the states in which cotton
is one of. the principal products, would
never get rid of the pest.
“In Mississippi,” General Catchings
says, “we have suffered this year more
than others from the ravages of the
insect, with the result that we shall
not have as good a crop of cotton as we
did last year. The weather has been
particularly good for the boll weevil.”
MORE NAVY CHAPLAINS
URGED BY PENNSY MAN
GIDEONS TO PUT BIBLES
IN . HOTELS OF ROME
WASHINGTON, Dec. 25—An increase
I of the corps of chaplains in the navy
to not less than one for every 1,000
; men is proposed in a bill introduced in
| the house by Representative Farr, of
I Pennsylvania.
ROME, Ga., Dec. 25.—Arrangements
to place Bibles in each of the guest
rooms of the Cherokee, Third avenue
and Porter hotels have been completed
by the Rome Camp of Gideons. After
this is done, the Gideons will extend
their efforts to Cave Spring, Adairs-
ville, Kingston and Calhoun.
“Our Peace Organized, Our Prosperity Stable”—Wilson
T)RESIDENT WILSON, signing the currency bill, said:
1 “What we are proceeding to do now is to organize our peaefe, is
to make our prosperity not only stable, but free to have an unim
peded momentutn.... I feel that we can say that it is the first of a
series of constructive measures by which the Democratic party will
show that it knows how to serve the country.’’
One of Financial Institutions
to Be Established Under
New Currency Law May Be
Located Here
(By Associated Press. )
WASHINGTON, Dec. 25.—With all
the power of a law fresh from the pen
of President Willson behind them. Sec
retary McAdoo and Secretary Houston ,
today began working out details o* the
nation's new tlnancial system. They will .
determine the Important preliminary
moves to the actual mstaUatlon of the
machinery that Is to operate the federal
resenve system.
Although the law provides the two
secretaries shall Join the comptroller > 3
of the currency in the preliminary work
of co-organlzatum, the office of comp
troller is vacant and It has been deckl
ed the two secretaries constlttulng a
majority of the committee may go
ahead. Hater the members of the fed
eral reserve board of seven will be
named by President Wilson. The sec
retary of the treasury and the new
comptroller will be members of that
body and the other five will be chosen
from private life,
'J he first step to be taken by the sec
retaries will be the section of cities
where federal reserve banks, the back
bone of the sytsem, aro to be located.
The law provides for not less than eight
and not more than twelve. The organ 1-
aation committee Is empowered to em
ploy counsel and summon witnesses and
papers, to go deeply In the location of
reserve reservoirs.
Its decision is not subject to re-
view, except by the federal reserve
board.
it is possible that berore the ques
tion of cities is decided the organization \
committee will visit cities suggested 1
and base Its report on Information
ganed at llrst hand.
Cities that scarcely can be kept oft a
tentative list Include New York, Chi
cago, st. Louts, San Francisco and New
Orleans, with Denver, Atlanta and Seat-
tie or Portland, Ore., near the top Phil-
adelphla, Baltimore, Washington,” .Bos
ton and several others are asking for
designation. -wag tor
-no().T LANTA BANKS approve.
While President Wilson was speaking
after he had signed the Glass-Owe n cur- ,
r ® n °y bB1 laBt night, a telegfam was re-
celved from Colonel Robert J. Lowry
of the Atlanta Clearing House associa
tion, saying the >new regional - bank,
system had been approved and that‘ f
every bank In Atlanta would become a
member.
The telegram from Colonel Lowry
was one of dozens pouring into the
teraeury department from banks eager
to join the new system.
The president signed the currency
bill at 6:01 o’clock Tuesday night in
the presence of his cabinet, the congres
sional committees on banking and cur
rency and other Democratic loaders In
congress.
Edward T. Brown, of Atlanta, who
L a guest at the White House, was
5“®° P rese nt at the ceremony, as was
WUHam J. Harris, director of the cer
‘“ s ; ® arll * r ln th * day they occupied
seats in the president's row In the sen
ate gallery, and saw the currency re-
port finally, adopted by the upper house
With a few strokes of the pen the
president converted Into law the meas
ure to be known as the federal re
serve act, reorganizing the nation's
banking and currency system and fur
nishing, ln the words of the president,
"the machinery for free and elastic and
uncontrolled credits, put at the dispos
al of the merchants and manufacturers *
of this country for the first time ln fif
ty years.”
APPLAUSE FOLLOWS SIGNING.
Enthusiastic applause ran through
the ceremony not only as the presi-
dent affixed his signature, but as he
delivered an extemporaneous speech
characterizing the desire of the admin-
tratlon to take common counsel with
the business men of the country and
the latter’s efforts \to meet the govern
ment’s advances as “the constitution
of peace.” ’ _
The event came at the close of a
day of rejoicing in the national capi
tal, for congress had recessed for two
weeks for the first time since It con- •
vened last April. The Democratic lead
ers were Jubilant because they had
completed two big pieces of legislation
—the tariff and the currency reform—
ln nine months, a performance which
they considered unprecedented In the
history of the country.
"I need not tell you," said the presi
dent to the assembled group as he took
up his pen. “that I feel deep gratifica
tion at being able to sign this bill, and
I feel I ought to express heartily the
admiration I have for the men who
have made It possible for me to sign
this bill. There have been currents and
countercurrents, but the stream has
moved forward. I think we owe special
admiration to the patience and the lead
ership and the skill and the force of the
chairmen of the two committees, and be
hind them have stood the committees
themselves, exercising a degree of
scrutiny and of careful thought ln this
matter which undoubtedly has re
dounded to the benefit of the bill Itself.
Sees Playmate Skate
Through FI ole in Ice and
Says Nothing About it
(By Associated Press.)
AUBURN, Mass., Dec. 25.—'When six-
year-old Edwin Harris saw h%s playmate,
Ernest White, eight years old, skate
through a hole in the ice on Partridge
pond and disappear he went horn# and
said nothing of the accident. The White
boy’s father learned, after an all-night
search, that the lads had been seen to
gether. He called at the Harris home
early today and Edwin was awakened.
“We went skating,” the child explain
ed. “and Ernest fell through a hole. I
looked for him, but I couldn’t see him.
so I came home.”
Flood Refugees Saved
(By Associated Press.)
WASHINGTON, Dec. 25.—Twenty-five
refugees have been rescued from flood
regions In the Brazos river district In
Texas by the revenue cutter Window
The ship already has distributed three
tons of food and la continuing the work.