The Jacksonian. (Jackson, Ga.) 1907-1907, October 25, 1907, Image 3

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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. '