Newspaper Page Text
Atlanta Georgian
AND NE-WS
ATLANTA, GA., WEDNESDAY, OCTOBER 23,1907.
PRICE:
SUCCESSFUL DISHONESTY” IN CONVULSIONS
Knickerbocker Will
Reorganize Before
Entering Business.
FEAR IS FELT
FOR OTHER TRUSTS
O AERO RACE8 WILL CLOSE 0
a WITH AIR8HIP CONTEST. O
0 St. Lout*, Oct 21.—Aeronautics 0
O will be brought to a close this 0
0 afternoon with a race between 0
0 seven airships or dirigible balloons 0
0 for cash prises aggregating 22,500. 0
0 These are the entries: 0
0 No. 1—Captain Thomas H. 0
0 Baldwin, California, Arrow. O
O No. 2—Charles Baye'redorfer, 0
O Omaha, The Comet. 0
O No. . 3—Captain Jack Dallas, 0
0 Toledo, Dallas. 0
0 No. 4—E. Jorgensen, Chicago, 0
Probably the largest crowd that hae
gathered at, Piedmont park since the
opening of the state fair filed past the
turnetlles Wednesday and thronged the
Midway and the buildings whero the
various Interesting-exhibits are placed
on exhibition.
Wednesday Is "Atlanta Day" at the
fair and right royally la the day being
celebrated. In response to appeals Is
sued by the fair management and May
or Joyner many of the business houses
of Atlanta closed their doors at noon In
order to allow their employees to spend
a half holiday at the.falr. They came
by scores and hundreds and If outward
appearances are to be taken as an Indl-
O America. 0
0 No. 0—LincolnBeachy, Toledo, 0
O Beachy.
0 No. 7—8. H. Curtis, Hammonds-
O port. N. T„ in Baldwin's twin 0
0 screw propeller. New California O
O Arrow. O
O The start will be' made at'2 p. O
O m.. the airships leaving at Inter- O
0 vale of 2 minutes for a test of 0
O epeed and dlrlglblllty. over a pre- 0
0 scribed course of approximately 0
0 one mile round trip. 0
morning. Officials of the 'compa
ny announced that they had on
hand in the neighborhood of $11,-
000,000 in cash to njeet -the de
mands.
The state thanking:department
lias taken charge of the Knicker
bocker Trust Company and it is
abnounced-tho'doors of that insti
tution will not open today. '
Panic Spreading.
Tin* money panic spread all oTar
New York today and extended to
other cities. Reneationei rutta were
begun at the opening of banking
hotiri on thf Triiat cjompnny of North
America and He principal branch, the
Colonial Trust Company, In the fit.
Paul building. Runs were also negun
on the Star Savings Hank In the
Bronx and the Dollar Savings Bank In
Third avenue.'
There was u crash In the stock mar*
ket, the slump ranging from on© to
eleven points throughout tho entire
list. . .
Karly In the forenoon a run began
on the Van Xorden Trust • Company
at*59th street and 5th avenue. It wris
reported also that the number of early
morning withdrawals at the Morton
Trust Company. In which Thomas F.
Ryan Is a director, and at other insti
tutions was exceptionally heavy.
The market Opened this morning In a
nervous state, owing to fresh anxiety in
regard to the trust company situation.
Union Pacific opened 2 3-8 lower and
on sales of 7.300 shares ran down to
108. D. & II. opened off 9 points and
fell 2 points. Southern Pacific suffered
an Initial loss of 4 points.
It was announced at the exchange
today that the New York Stock Ex
change would not close, alarming re
ports or petitions to the contrary not
withstanding. It was said there was
00000000000000000000000000
New York, N. Y., October 23.—
The America, which in still un
accounted for, was last seen last
night over Cleveland. It is thought
to be .tlijs.hallooji'^ep^teU .this
were also seen at tho fair grounds Wed
nesday afternoon. They, too. were grant*
morpmg near Lcfc porfTNVTV
so it has the best chance of. foin,-
jwoUJty a* Atlanta day. the visitors to
the fair were not made up entirely of
Par from It. The
Asbury Park. N. J., Oct. 22.—The
German balloon Pommem landed here
at 10:30 o'clock this morning.
It Is believed that this establishes
the record for a balloon flight, even
made by the
ritltens of Atlanta. — ...
remotest section of the atate, from the
northern boundary line to Florida, was
represented, and clttxens from every
county In the state assisted In smash
ing the record of attendance.
At they viewed the vast throng* that
moved up and down the midway and
kept the aide shows doing a land office
business, President Cabanlss and Sec-
retary Weldon were the happy victims
of the smile that wouldn't wear off. and
they expressed themselves as being
more than pleased with the way the
fair Is being patronized.
The Indian snake dance, given by the
attaches of Ranch 101, was the center
(Continued on page two.)
ROOSEVELT (In his speech at Nashville Tuesday)—“There has been* trouble in the stock market, ..'in the high finnneial
world during, the past few months. The statement has been made frequently that the policies for which I stand, legislative and exec
utive, are responsible for that trouble. Now, gentlemen, these policies of'mine can be'summed up in' one brief sentence. They repre
sent the effort to punish successful dishonesty. I doubt if these policies have had any. material,effect in bringing about the . present
trouble, but if they have it will not niter in the slightest degree my determination that for tiic remaining sixteen months of-' my
term these policies shall be persevered in unswervingly. ,, J
“If to arouse that type of civic manhood in our nation it were necessary to suffer any temporary • commercial depression, * I
should consider the cost but small. All we have done has been to unearth the wrong-doing:.
“It wns not the fact that it was'unearthed that did .the damage. 'AH I did wiis to turn on tlie;light. ' I am • responsible- for
turning on the light, but I am not responsible for what the light showed.” .
exceeding the
French balloon from Parle Into Rueela.
The distance In a straight line from St.
Louie, to where the Pommem came
down Is more than a thousand mile*.
The German entry in the conteet had
thus smashed all American record! for
ballooning and for the first time had
accomplished what was heretofore con
sidered an Impossible feat—the croes-
(Continued on page two.)
/. LEE BARNES LEASES THE MAJESTIC; ■
WILL CONTINUE TO MANAGE ARAGON
door* In It* present form, interest In
Wall (treat wae switched largely to the
Trust Company of. America nmt the
— Secretary of
Morton Trust CompapyX H
the Treasury Cortelyou, who came from
Washington last night, held at the
Hotel Manhattan a conference lastlns
far Into the night. Thle conference * e*
attended by members of the Morgan
firm, J. P. Morgan himself participating
In the deliberations for several hours.
Trust Companlss Anxious.
President Thorne, of the Trust Coin
pany of America, and George W. Per
kins, after the conference, admitted the
the condition of that concern was cans
SPOT COTTON.
Liverpool. ea«ler; 6.17. Atlanta, quiet:
10%. Sew Orleans, quiet; lie. New
York, quiet; 11.90. Savannah, dull; 10%.
Angnata, quiet; 10%,
THE PARMENTER MILLIONS” BEGINS IN THIS ISSUE—READ IT
FILLS FAIR
Half Holiday Sends
Thousands to
Park.
BULLOCH COUNTY x
DAY THURSDAY
All Day Singing to be Fea
ture of Thursday at the
Fair.
Balloon Supposed To
Be America Seen
Near Lockport, N.Y.
SECURED CONTROL
OF CENTRAL RY,?
Oakleigh Thorne Says Rock
Island Did Not
Get It.
N.w York. Oct. 22.—Oakleigh Thome,
Preetdent of the Trust Company of
America, haa sold the control of the
central of Georgia railway, which he
purchased Jointly with Marsden J. Per
ry. of Providence last July. Confirm
ing his sale of the property, he aald
'bat It had not been made to Bock
Island Interests.
Mr. Thome would not give further
Particulars of the deal, therefor# It la
not unlikely that the Central of Georgia
may have been sold to Harrlman Inter
ests for the account of the Illinois Cen-
'ral, as this la the only large ayatem.
**cept the Rock Island eyatem, which,
from a geographical point of view,
could use the property to advantage.
If Mr. Harrlman haa ta
taken over the
Property and should lose his fight for
control of the Illinois Central he would
Probably be anxious to get rid of it aa
soon aa pooslblt.
The Illinois Central will within a few
yeelca have a new line Into Blrmlng-
n»m, Ala, where It could make con
nection with the Central of Georgia,
giving u an Atlantic coast terminal at
Havannah.
The Rock Island could tap the Cen
tral of Georgia at Birmingham through
St. Louis and San Francisco line
running there from Kansas City.
, Only recently there has been a row
In the Central of Georgia caused by a
protest of the preferred Income bond
holders, who declared that a proper
system of bookkeeping would ehow that
'be full t per cent dividend could be
P»m to the holders of the first, second
*ntl third preferred bond*. A number
”f conferences were held In this efty
h*'»e*n the bondholders of the com
pany. Mr. Thome and President J. F.
, * n, °n. It was finally decided that the
full | per c . nt , hm iid be paid to the
ho'oer. of the first preferred bonds,
something over 2 per cent to the second
peeferrad, while the third preferred
"lino me iniru i
nonds should get no dividend.
TO BE MARKED BY
BIG CELEBRATION
Dollar Dinner at Kimball to
Close Chanler
' Day.
I LLWto
&IWVL3AWT
ROOSEVELT T
RAN PAST STATION
THROUGH MISTAKE
Special is Backed and Presi
dent Addresses the Citi
zens of Roanoke.
Jesse N. Couch To Bel I
in Charge of
Majestic.
00000O000000O00000O000O000
6 PRESIDENT 8AVE8 BOY , 0
FROM DEATH UNDER TRAIN. O
_ Roanoke. Va.. Oct. 21.—Presl- O
O dent Roosevelt's quick work today 0
0 saved a boy from death under the O
heels of his train.
000000O0O00000OO0OO0OOO0O0
Roanoke. Va., Oct. 23.—A mistake In
train order* nearly cost Roanoke a
chance to hear President Rooeevelt
speak today. The executive was on
the back platform of hie private car,
ready to begin talking as the train
rolled In. but the train passed the sta
tion without stopping. The mistake
was quickly corrected, and the presi
dent's car backed up to the station. A*
the train stopped a little girl waved
her hand from a passing buggy and
called, "I'm going to school." "That's
right," said the president. "I have a
little girl at home. She la going to
school, too.” Then he spoke briefly on
good clllxenshlp.
The train arrived here at 1:10 o'clock
and Is due at Washington at 4 p. m.
The Majestic Hotel has been leased
I for a term of five years by J. Lee
Hames, manager of the Aragon, and
will be'conducted by him on and after
November t, with Jesse N. Couch In
complete charge. Mr. Barnes will con
tinue to manage the Aragon, hl» leaee
on that popular hotel continuing until
January 1, 1010.
Mr. and Mrs. Ralph Van Landing-
ham, the owners of the Majestic, which
ta now managed by Mr. Van Landing -
bam, will leave In a short while for a
tour of Kurope.
The lease of the Majestic was hand
led through John J. Woodslde, the
renting agent, and the rental for the
five years’ term will approximate 21no,-
000. It I* stated by Mr. Barnes. The
deglla one of the most Important of re
cent years in real estate and business
circlet and bears added testimony to
the splendid business tact and methods
of Mr. Woodslde. The Majestic
Is a steel and marble building
(Continued on second page.)
PIdns are rapidly being perfected for
the reception and entertainment of
Lewis Stuyvesant Chanler. lieutenant
governor of Newt York, who will arrive
In the city at 2:15 o'clock Thursday aft
ernoon. and will be the speaker of the
day at the state fair Friday.
Than the distinguished New Yorker,
who arose to fame by his election while
the head of his ticket wae defeated by
*0,000 majority, few men In the whole
Washington. Oct. 23.—President
Roosevelt will nrrlve In this city at
four o'clock this afternoon from his
southern trip and from hla vacation In
the canebrakes of Louisiana. The
preeldrnt comes directly from Roanoke.
Va, where he addressed a large crowd
of citizen*. _ . ,
A number of government officiate
will welcome the president upon hie
return to the city.
CHIEF JUSTICE
M’SHERRY DEAD
(Continued on second page.)
Baltimore. Md, Oct. 23.—Chief Jus
tice James McSherry. of the Maryland
court of appeals, died today at Fred
erick, MtL
00O0000OOO0OO00O000000O000
O NO BAD WEATHER O
0 18 IN 8IGHT YET. O
a O
0 Ideal weather Is scheduled, and 0
0 present danger of rain and . cold O
O has passed away. An area of 0
0 "low” Is traveling up the Atlantic 0
0 seaboard, but It Is Improbable that 0
0 It will have any effect here. Fore- O
0 cast: O
O "Fair Wednesday night and V
O Thursday.” O
0 Wednesday temperatures: O
..55 degrees O
0 I a. 5* degree* o
0 9 a. m 5* degrees O
O 10 a. m. (1 degrees O
Oil a. 03 degrees 0
O 12 noon. (* degrees 0
O t p.. m. .. .. ..70 degrees 0
0 2 p. 72 degrees 0
JESSE N. COUCH.
He will manage the Majestic Hotel,
beginning November 1.
J. LEE BARNES.
He will rontlnue actively In charge
of the Aragon Hotel.
00O00OOOOOOO0OOOOO0OOOOOOO
$1,500,000 CHECK CAUSED
BIG TRUST CO. TO SUSPEND
Sew York, Oct. 21—It developed today that It was the presentation of a cheep
for 31.106,000 la favor of tbe Hanover Xntlounl bank that precipitated the anspen-
ulon of tbe Knlckerliorker Truat Company.
A hank meeeeuger with tbla check had been waiting In line nt the down town
office nt 66 Broadway. When he finally reached the paying teller's window, he
handed la tbe check. There waa a breathless delay, and then tbe money waa count
ed out to him. . lie had not finished packing It In bln valise, when the pnylng
teller • lose*! hla window with n final 1*0*.
There waa a'tllt some rash left lu the paying teller's cage, hat It obviously was
Insufficient to satisfy the demands of the long line of depositor*, and more money
was not forthcoming.
Oakleigh Thorne’s Trust Co.
of America TYilLGet
Help From U. S. k i
vision had been made for all the rgah
necessary and that the day would pass
without disaster.
Tho Morton Truat Company, of which
Thomaa Fortune Ryan la the dominant
figure, although former Vice President
Levi P. Morton Is lta president, also in
being keenly watched today. Deposi
tors demanded and received 1100,000
from the Morton Trust Company In ths
last forty-five minutes of business yes
terday. .
Ryan's Resignation Rumored.
Rumors were rife that Thomaa. F.
Ryan had been asked to resign'from
the company and It was said In some
quartern that hie resignation had ac
tually been placed In the hands of the
directors shortly after the exposure
made by L. E. Qulgg before the public
utilities board.
These rumors were emphatically de
nied by Levi P. Morton, president ot
the Ryan company.
Mr. Ryan made many trips from hla
office In tbe Morton Trust Company to
the office of Valentine P. Snyder, presi
dent of the National Rank of Com-
merce. II© made one trip without hla
hat, waving off interviewers an he hur.
(Continued on page two.)
THE WEATHER.
For Atlanta and Vicinity—Fair
Wednesday night and Thursday.