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COPPER CRASH
DOWNS HEINZE
Famous “Magnate” Heavily In
volved in iumble of Prices.
TWO BANKS INVOLVED
■Big Institution in Germany and One in
Butte, Montana, Hard Hit-Sensa
tions in Financial Circles.
Sensations followed each other in
rapid succession in the financial dis
trict of New York Thursday as the
result of the collapse of the projected
corner in United Copper and the sus
pension of the pronuaent brokerage
firm of Gross & KleeMfrg, Wednesday.
The firm of Otto Heinze & Cos. was
suspended on the stock exchange.
F. Augustus Heinze, the Butte cop
per magnate, resigned the presidency
pf the Mercantile bank of New York.
The Amalgamated Copper company,
at its directors’ meeting, cut its quar
terly dividend from two per cent to
pne per cent.
The directors of the Boston and Mon
tana Copper company declared a quar
terly dividend of $6 in place of a
former dividend of sl2.
The failure of Haller-Soehlee & Cos.,
prominent bankers of Hamburg, Ger
many, with liability that may reach
$7 ,500,000, was announced.
The State Savings bank of Butte,
Mont., of which the Heinzes are the
principal stockholders, suspended.
The suspension of Otto Heinze &
Cos., of which firm Max M. Schultze
Is the stock exchange member, was
based on a complaint to the exchange
made by Gross & Kleeberg, the stock
exchange firm which failed Wednes
day. In a communication to the pres
ident of the exchange this firm Charg
ed Otto Heinze & Cos. with refusing
to accept 3,222 shares of United Cop
per, said to have been bought on the
order of the Hejnze firm. This action,
Gross & Kleeberg state, was respon
sible for their failure.
The failure of the Hamburg, Ger
many bank, and the Butte, Montana,
bank, both followed closely on the
uews of the suspension of the Heinze
firm of the stock exchange.
The low price of refined copper,
tohtch dropped even lower Thursday,
and the disorganized condition of that
metal in the market, is the reason giv
en for the reduction of the dividend
in the copper companies.
The Butte bank was largely controll
ed by the Heinze interests, P. Augus
tus Heinze being the principal stock
holder, and the news of the Otto
Heinze suspension on the stock ex
change and of the failure of the Ham
burg firm precipitated a run which
immediately caused a suspension of
the bank. In a statement issued by
the officers, it was declared that the
bank is perfectly solvent and that the
suspension is solely for the purpose
of gaining time to arrange the bank’s
affairs.
F. Augustus Heinze has been a
prominent figure in New York financial
circles since the settlement of his long
drawn out litigation with the Amalga
mated Copper interests over Heinze’s
Montana properties. It wa3 under
stood that he received a large sum in
cash, enough to make him several
times a millionaire, as the settlement
agreed upon. It was soon after that
he became president of the Mercantile
National bank, one of the large finan
cial institutions of New York city.
A graduate of the Columbia school
of mines, he went west almost without
capital and began the development of
copper properties, which brought him
in conflict with the great Anaconda
company, now a part of the Amalga
mated Copper company. This conflict
lasted for years, and was fought out
from court to court, until a year or
so ago a compromise was effected.
MRS. CHADWICK LEFT FORTUNE.
Past Books are Found Showing Bank De
posits of $305,000. ,
The startling statement was made
Saturday at Cleveland, Ohio, by Na
than Loeser, referee in bankruptcy for
Mrs. Chadwick, that he had come into
possession of six pass books between
Mrs. Chadwick afe'a depositor in banks
in Cleveland and other cities.
According to one of these pass books
Mrs. Chadwick wa3 a depositor in the
Second National Bank of Pittsburg
to the amount of $305,000, and there
are no marks indicating that the mon
ey has been checked out
. GEORGIA GREETS BRYAN
I Great Commoner Given Rousing Ovations
at State Fair Grounds, at Reception
and at a “Do.lar Dinner.”
William Jennings Bryan, America’s
| greatest common citizen, introdivced
| by Governor Smith as “'our next dem
i ocratic president,” pronounced an epic
' upon the common people of the coun
i try Saturday at noon, when, in the
coliseum at the Georgia state fair
in Atlanta, he spoke to an audience of
7,000 people, using a shis theme, “The
Average Man."
While the address took more of the
nature of a lecture than a political
speech, there was injected enough of
the latter to clearly outline the lines
upon which he thinks the next cam
paign will be waged. Briefly stated,
these are:
The relative sphere of state and na
tion and the right of the state to act as
custodian for its people.
The regulation of the great transpor
tation companies.
A revision of the tariff law.
Contributory wealth of great corpo
rations for campaign and political pur
poses.
These paramount issues were elabo
rated upon by him in great detail,
though he stated at the outset that
no one could tell, at this time, just
what the issues would be nearly a
year hence.
With his great and powerful voice,
which is far reaching and as clear
as a bell, he spoke for an hour and
a half, during which time he was giv
en the closest attention and repeated
ly interrupted by applause.
With that ease and grace for which
he as an orator stands pre-eminently
Mr. Bryan would change from a se
rious argument in regard to a mone
tary condition, corporation domination
or transportation regulation, to that of
a scene and ipcident at his own home,
which he would picture with graphic
minuteness, and after the laugh came
at the conclusion of the anecdote the
mind of his hearer was startled to real
ize that it was told for the purpose
of bringing home some great truth
he had previously expounded in, per
haps, technical language.
With equal vim he praised and crit
cised the present national administra
tion, pointing out how, when the pres
ident took up some great democratic
principle he became popular, and when
he opposed one he was universally crit
icised. He pointed out innumerable
instances where in the past twelve
years the republican party was taking
up the principles of the democratic
party and how each of these had prov
ed most popular.
The only rest that was allowed the
distinguished visitor came immediate
ly after the conclusion of his address
in the coliseum, when he was the
guest of an informal luncheon at the
Piedmont Driving Club.
Following the luncheon Mr. Bryan
was driven to the executive mansion,
where he held a public reception. Thi3
was given in honor of Mr. Bryan and
thousands of people were present to
meet him.
The reception lasted from 4, until
6 o’clock, when the distinguished visi
tor was the guest of honor at the
'dollar dinner” at the Piedmont hotel.
‘‘Democracy today presents the most
united front I have known in the past
15 years,” declared Mr. Bryan in his
speech at the ‘‘dollar dinner.’
‘‘ln fact, it is the moat solid front I
ever knew since my entry into the po
litical arena. There are a few bush
whackers still in our midst and if you
will locate their offices you will find
that their wives are connected with
predatory wealth.
‘‘Today we are united; the republi
can party is divided, just as we w r ere
eleven years ago. Today our fight is a
solid one. We stand for the same
things all over the United States.
‘‘Our party faces the coming conflict
with hope, and all that is necessary
for us to have a complete victory is
to prove ourselves worthy'.”
MINNESOTA FINED FOR CONTEMPT-
Action ia Reached Through Attorney Gen
eral of the State.
Attorney General Young of Minne
sota was adjudged in contempt of court
by Judge Lockeeu in the United
States district court at St. Paul, Minn.,
and fined SIOO, which he refused to
pay. An appeal to the United State:;
supreme court will be taken in the
form of an application for a writ o,
habeas corpus, and the question of
whether the United States court hat,
the right to enjoin a state from enforc
ing ita law3 will be finally disposed of.
NEGROES FIRE
ON POLICEMEN
Incipient Riot Started by Unruly
Blacks in New Orleans.
IN BARRICADED HOUSE
Gang Held Officers at Bay for Hours, Kill
ing One and Serious y Wounding
Others-icrch Subdued Them.
A party of negroes barricaded them
selves in a house in the down town
district of New Orleans Friday night,
and started a riot. One policeman was
killed and several were wounded.
The riot ended after an hour and
a half siege of the house by the po
lice. The officers routed the negroes by
burning them out, mortally woundtug
one and arresting five others.
The trouble Btarted in front of the
Becond German Presbyterian church at
Claiborne and Anette streets during
service when several negroes became
boisterous. Patrolman Cambions, who
attempted to arrest them, was killed.
The negroes ran to a nearby house,
which they barricaded.
With shotguns, revolvers and razors
they awaited the police, a few of whom
gathered quickly and stormed the
house. Sergeant Wheatley was mortal
ly wounded and Patrolman Wenck and
Corporal J. W. Dunn received serious
wounds.
Patrolman Cambions was killed by a
knife th r ust and his body lay for a
considerable time in front of the bar
ricaded house, no one daring to move
It About half an hour after his death
a small detail of police made a rush
upon the house, moo than half of
them falling to the pavement", shot by
the negroes behind the windows. The
police wero driven to shelt r, carrying
the wounded men with them.
For more than a quarter of an hour
the negroes were the masters of the
neighborhoed, while the police collect
ed a force of tw.nty-five men to re
new the attack. This larger squad
surrounded the house so that no one
could escape, and aft;r finding that
threats and shooting were of no avail,
set fire to a fence behind the house.
The smoke frightened and drove the
negroes from cover. They broke for
safety singly, the first one out falling
mortally wounded, while the next two
rushed cut with empty hands held over
* #*.•
their heads and begging for m<rcy. A
badly wounded negro next stagg red
out, and the police, seeing that the
fight was over, rushed in and searched
the house. One negro was found under
a mattress and six arrests, including
the dying negro, were made. Some of
the others arrested- qpiuared to be
badly injured.
According to the police investigation
these six negroes held the house for
mors than an hour against a force of
well armed policemen, backed by t
mob of more than 1,000 persons. As
soon as the negroes bad submitted the
police were forced to turn on this mob
and fight with all their energy against
threatened wholesale lynchings. Tho
negroes weer taken safely to the par
ish prison of New Orleans, which is
considered the strongest and safesl
jail in the state.
BIG MONEY FOR SOMEBODY.
Long Missing Share of Railroad Stock
Worth Fortune to Finder.
A dispatch from Montgomery, Ala.,
•ays: Any man* with a lost share of
Western of Alabama stock can almost
get any amount he wishes if he will
let it go.
It is understood that the Louisville
and Nashville ar.d the'Central of Geor
gia own an equal amount of stock,
and that neither road can coftrol the
Western of Alabama without the con
sent of the other.
Report has it that when the roac
was reorganized some years ago there
were a few shares of the stock that
could not be located and have never
been found.
A few days ago an Alabama man
went to a local broker and asked what
a share of old Western stock could be
bought for.
The broker misunderstood him and
thought he had some to sell. He wired
to Atlanta to know what it was wortt
Pretty soon he was delug.d with re
plies.
It is reported that he was offered
as high as $200,000 for one share.
It is understood that brokers have
had out men looking for these lost
•hares for a long time and the fellow
who finds that he has any of tb'-m In
hie trunk is going to wake up rich.
ROAST HANDED WRIGHT
Mayor of Some Makes Serious Charges
Against Legislative Representatives
of Floyd County.
Mayor John W. Maddox cf Rom",
Ga., in an address before a big mass
meeting of Rome citizens last Satur
day night, charged Representative Sea
born Wright, among other things, with
being “a dangerous man, who would
wreck the prosperity of any community
in which he lived for uny selfish
that he might have In view."
The occasion of Mayor Maddox’s
speech was a mass meeting which had
been called for the purpose of allow
ing the city administration to present
to the taxpayers the exact status of
the affairs of the city. This was
necessitated because of the deficiency
which has been caused in the city
treasury on account c l tit i r LollsV
inent of the Rome diapers; .. ana
failure of the passage of the .-.m a
bill, as prepared by the mayor and
council, which provideo a mem of
raising taxe. which were neresßi:
The statement, as pro. U< f. ;> 'ic
citizens showed that tn- •■■■' V
tli city next year woi'iri < ■ .v.
income by over SB,OOO am! it . "
necessary to hold a special ■ a.--n:, i
authorize the levying of a special tax .
to meet this excess.
It was in speaking of the fie at. o'
tho charter bill that Mayor ‘ < jc.
made this arraignment of IT'.'-', .'mo
tives from the county, M y;• ■.•iyir:
and Dean, charging them wh mi, ■
non-residents who Were end •:uoring
to throttle the city. He called on the
people of Floyd county to nani a
their next election for representatives
“men who would represent Rome ami
the people and not (her clients.”
M(iyor Maddox wound up ids add’’t‘s.-
by the rending of a letter ,\ . nay 1
Hon. Seaborn Wright lari V !-• .
gard to the proposed attainin' t ■ , i
1 the city charter. In thin 1 ‘ ■ Mr,
Wright suggested the a’;: .it
tho salaries of the mayor • . • r.- !
and stated that they •--i.m'.d l • u . and
as ‘‘American beauty i\j ■ to a: end
banquets and such like unc i •n • ‘'
‘‘He has mac’ - us Am; iet.o beaut I- :
all right," said the major, ‘il -m;
retired us and given It all to .be rail
road commission and the Imard of
public works. These two non-residents
put this miserable bill upon us. One
of them, so I am informed, pays no
taxes to the city, except upon his
library, and there are a humber o' 1 men
living outside; of tho city of Home
who pay as much taxer as the 1 other
one and who take no such part in
these things.”
TO WIDEN THE PANAMA CANAL
Suggestion is Made by Civil Engineer Ko.i
seau, of the Commi: ion.
Lieutenant H. 11. Ko.-r.oaii. civ!! c
glner in the United States na\. am! a
member of the Isthmian canal commis
sion, arrived in Washington Saturday
from the isthmus and laid before Sec
retary Metcalf a proposition to in
crease the proposed width of the Pan
ama canal, which is now planned it
100 feet in the lock. The recommenda
tion is based on the rapid increase
of beam in naval construction si nee
the canal plans were formed. Sec re
tary Metcalf will take up the mat; ■ i
with the president In the letter's re- ■
turn.
LAWYER MAY BE DISBARRED.
Trouble of Skrevc Brothers at Montgomery
Has Begun in Earnest.
George and Jesse Shrove, who vyer
sent to jail in Montgomery, Ala,, lu“.
week for contempt of lire * riming:
court, were Monday am 01 ,
indictments for obstruKii. josth
making bond In S2OO In each case. g . >,
Slireve is a lawyer and a.. : result oi
the hearing, movement . : m:d
toward his disbarment. '■ !:■ Hhreve ;
are charged with inducing witness*
In a sensation case to leave the stale.
“UNDESIRABLE” BANKERS OUSTED.
Heinze, Thomas and Morse Driven from
Gotham Financial District.
At a late hour Sundry night (he
clearing bouse commits < in X■ w York
stated that the Ilelnze, Mow and
Thomas interests had be:; eliminated
from the banking organ'/ U>.. of N w
York city and in the light of ! . fact
the clearing house association a financ
ed its readiness to lend all necessary
aid to any of the ban’.. !>te'- have
been under suspicion. i, if believed |
this action will prevent any crisis in 1
New York banking circics.
BISHOP POTTER
GIVEN A ROAST
By Citizens of Richnuad for Enter
taining a Negrj at Dinner.;
WRATH IS UNBOUNDED
Most Indignant of the Populace is Mr.
Lindsey, Who Through Courtesy, Let
His Handsome Home to Potter.
Not in years has Richmond, V*.,
been stirred to such a fever of iiydig
i atlon as bv the action of Bishop Pot
tor of New York, In entertaining at
dinnei it his home, Mrs. Potter being
present. Bishop Ferguson, the negro
bishop of Africa, who was attending
tho Episcopal convention.
Richmond people smothered their
v"rath until the convention adjourned
and then it flamed out.
Society people are now denouncing
In most vigorous terms What they urm
Bishop Potter’s “Indelicacy" in enter
taining at dinner the negro. The ln
eldin, has been the chief topic of con
versation.
Bishop action is regard'd
as a breach of etiquette and hospitality
and ninny persons seem to think, from
the manner In which the bishop spoke
ol the incident afterwards, that lie did
it knowing that publication of tha
fset would follow.
Among those who have openly criti
cized the New York dignitary are
many prominent clergymen who un
hesitatingly say that they were deeply
aggrieved and surprised that, he .should
have IxVn guilty of such an act, L n
liielmioiu) of all southern cities.
Another phase of the question Is tin*
fact that Bishop Potter had lea cd the
pirn; of K. S. Llnsey, one of the
wealthiest and most proniineat society
lenders of Richmond, through an art
of courtesy, ns ho had been unable to
o rtain suitable quarter;; elsewhere hi
the city, tin eh a thing as a negro
having b: n entertain'd on linos of
social equality In Richmond and In
the home of as prominent a man as
Lindsey, is unprecedented.
The Lind ;ey home Is one of the
handsomest lit the city, being situated
in tho heart of the fashionable district,
and being frequented at all times by
the elite.
Lindsey, who has.two daughters, on®
of them a debutant® of the present
season, who will perhaps f or year „
suffer from the fact that a negro has
broken bread in the!/home, under such
astounding circumstances. The inci
dent. is being spoken of on the same
grounds and along the eat .o lim-s in
which the Booker Washington incident
at tlie while house was referred to,
many people declaring that the circum
stances in the Potter incident make
it even more worthy of denunciation
by .southern people,.
The Lynchburg News, Congressman
Class’ paper, sharply criticises Bishop
Potter for entertaining the negro bish
op In Richmond, declaring the dinner
was social vandalism which may dis
rupt the Episcopal churcfi.
RESIDENCE OF FOURTEEN MONTHS
Will Be Necaasary to Acquire Homestead*
on Public Domain.
An Important change In the regula
tions for acquiring homesteads on the
public domain was announced at Wash
ington Saturday by Commissioner FaL
lager of the central land office. As an
additional precaution again: t fraud, all
persons making homestead entries on
public lands after November 1, next,
will be required to prov • actual re-d
--dence on the bind for fourteen months
before they will be permitted to "com
mute" tli■ - entries to obtain title by a
on. h p; > iiiont. Heretofore the period of
r<*id;m;e ,:as been eight months. The
ruling will not offset entries made
pi for to November 1, ISKV7.
AN INSULT TO THE SOUTH.
Bishop Potter cod Wife Seek Limelight
by Entertaining Negro.
Bishop and Mi'.-:. Potter of New York,
who are occupying a r* sldence In Rich
mojid, Va., during the general Episco
pal convention, Friday evening enter
tained Bishop Ferguson of Africa, the
only negro entitled to a seat In th
iioii4" of bishops, at luncheon.
The matter Is considered by tbe gerv
oral public up a slap at the south, the
hospitality of which Bishop Potter
Is accepting. '