Atlanta Georgian and news. (Atlanta, Ga.) 1907-1912, October 31, 1907, Image 1

Below is the OCR text representation for this newspapers page.

THE WEATHER. For Atlanta and Vicinity—Part ly cloudy tonight; fair, warmer Friday. The Atlanta Georgian ; AND NEWS SPOT COTTON. Irerpool, stonily; 6.03. Atlanta, quiet; 0 316. New Orleans, steady; 10H. New 'ork. steady; 10.90. Harouaah atta\; 3-16. Augusta, steady; I0V VOL. VI. NO. 75. ATLANTA, GA., THURSDAY. OCTOBER 31, 1907. PRICE: {r. A »i8SB8S?I: LONDONBALKS TR OOPS MAY 1 IH YET USE 1 FACSIMILE OF CLEARING HOUSE CERTIFICATE | IUSIIESSIE1 PUT STOP TO Britishers Have Put Prohibitive Price on Metal. Committee to Wait Upon Gov. Beckham and Ask Protection. FOR BUILDING Livingston InsistsThat Bid Permits It. So. JIOJL. Atlanta Clearing House Association Certificate ATLANTA, GA This Certifies Thd tU IW* «*•»****# :4* Atlanta jfbuM AttociuHon A* «»fA C £. Currrtr. /. W IV. /. /W, T7rw***. of uM Scaattu to lU m&m «/ A'£K£.V |$S5kL4/ff£jty A* i*y*mtafik «<*» *.* fa lawful m$n*j *./ lK* L'riitJ St o'a*. ptfoU^VI vt tijk*lI ~lf HnTrCi _ . , «*«» torA ti* pmttatrf* of a nutting nf ta^'J /ittoc'alion, It’JofUSa OtuUt, i/jjj • DtpotU t to goymont afdtlls Jut any Dcnk to iaiV CU&lng h CERTIFICATES Action of Clearing House Is Ap proved. DIXIE FINANCE IS IMPROVING No Deposits for Southern Banks Because There is None to Get. O<HJOOCHCK11KHKHJOOOO<HS<HJ<KXKIO O O O MANY BANKS WILL O O INCREASE CIRCULATION. O O Washington, D. C, OcL 31.— O O Telegraphic acceptances were re- O O celved today In large numbers by 0 O Comptroller of the Currency O O Rldgely In response to his appeal O O for banks to increase their clrcu- O O latlon, where the limit prescribed O O by law had not already been O O reached. Although It Is not certain O O that an absolute adoption will fot- 0 O low, the comptroller expressed O O himself as sanguine that the banks O O will generously expand. OOCKHJ<KKIOOO<HJ<KKHJOOOOOOOOO New York, Oct. 31.—With the drop of 76 points In sterling exchange yester day, the scene of activity In finance has again shifted to the foreign exchange market. The new rates of foreign ex change on London are just outside the figures where the Importation of gold Is-made possible, an almost unexpected development after the rapid rise In rates on Tuesday that checked deci sively the great Inflow of gold to tH.« country and apparently stopped th> movement for some time. The money stringency felt In this city last week is beginning to disappear. Call loons on tho stock exchange so far from remaining at the 60 and 76 per cent rates for the first of the week. sc. tsally fell to 3 per cent at the close of trading, ample evidence ef tho presence of a larger supply of cash In the mar ket. Several reasons have been ad vanced to explain this condition, but facta havo now displaced theories. mDiPoemfFgjj^ BANK8 Washington, Oot. 31.—The financial situation in New Orleani and through out tho South la rapidly improving, ac- oordlng to Sol Wexler. vice president of the Whitney Central National Bank. Of New Orleans, who Is In this city to make arrangements with the treasury department for Increasing the circula tion of his bank. . "A false lmpreeelon has gotten out that I am here to discuss with Secre tary Cortelyou tho Southern financial situation.' It waa even said I had a conference with him yeaterday. I did no such thin*. What would be the uae? Wa can not get deposits for Southern banks now because there are none to **"Ae soon as I wind up my business with the department I ehall return to Vavt Orleans.” When the resolution of Inquiry Into Secretary of tho Treasury Cortslyous action In aiding the Wall street banks In the New York crisis In money mat ters Is Introduced In the houee by Representative Slm«, of Tennessee, one af its most ardent advocates and sup porters will be Representative Oscar W. Gillespie, of Texas. Mr. Gillespie, who hse always been opposed to the encouragement by the government of Wall etreet, sold to- "What la all this but using the peo ple’s money In the etock market of New York? It appears to me to be a case of the government going to the aid of the stock gamblers of New York. "But I don’t believe thle Is »o. Did the eendlng of money to the New York banks relieve the situation In other parts of the country? Certainly not. Banks are closing In other parts of the country right along." fionitl ora, Owensboro. Ky., Oct. 31.—The tobac co war between the members and anti- members of the American Society of Equity, which has been threatening for several weeks, apparently has begun In earnest In Davis county, and it Is feared that It will spread and be even more destructive than was the toll gate raid several years ago. Yesterday the large barn of William Green was burned to the ground with all of its contents, entailing a loss of 325,000. Green has never been asked to Join the American Society of Equity and he is at a loss to understand why the “army of peace” should burn his property. If It was the members of this body which accomplished his ruin. Both sides In the war are planning to carry on the conflict Indefinitely unless some action Is taken by the governor to put a stop to the war. It Is said that a committee of citizens will wait upon Governor Beckham and ask him to send the state militia Into the county to pre vent further depredations. ACTOR HITCHCOCK Implicated by Three Little Girls on Serious Charge. .-T‘ If plans set on foot Thursday morn ing by Congressman Lon F. Livingston are carried to a successful termination, the new mllllon-dollar postofflee In At lanta will be constructed of Georgia mnterlal and the money spent for It will go to Georgia workmen. And at present there Is every Indica tion that these plans will be successful. After studying the matter thoroughly Thursday morning early, Congressman Livingston sent a telegram to J. Knox Taylor, supervising architect, asking why the building could not be con structed with an exterior of Georgia granite and an Interior of Georgia mar ble. under the bid of the Charles W. McCaul Company, of Philadelphia. He expects an answer to this telegram Thursday afternoon and he is prepared to submit figures to show that such a plan can be carried opt successfully. The McCaul bid was $869,590 to con Continued on Page Two. GOVERNORS MEET Probable Now That Only Three Will Be Here. RAYMOND HITCHCOCK. Mile. Ragozinnikova Killed Russian General Monday. St. Petersburg. Oct. 31.—Mile. Rag- oxlnnlkovu. who assassinated General Maxlmoffsky laet Monday, waa taken from her cell at dawn today, hastened to the ecaffold In the court yard and hanked. The girl gloried In her deed until the rope waa adjusted and the trap sprung. Her smile of triumph faded only with the convulalons of ‘^General Maxlmoffsky. after h* fell by her hand, expressed the wish that Mile Ragozinnikova be not executed. This wlah waa dlaregardcd by the authori ties. She was tried In the fortress and sentenced to death on the same day. Her death warrant waa signed yester day. New York. Oct. 31.—Raymond Hitch cock, the actor, after being Indicted elx tlmea on charges made by little girls, could not be found In New York today. The actor’s wife, ble attorney, his bondsman and a number of private de. tectlves searched the city for him from the Battery to the Bronx, but there was no clew to his whereabouts. Mrs. Hitchcock, known on the stage as Flora Zabelle. declared today that her husband had met with foul play. Ilia lawyer waa of the opinion that the actor had either been murdered or spirited away. , , Fritnda Fear Suicide. The management of the As tor thea ter. where Hitchcock failed to appear for either matinee or night perform ance, announced that he had gone to Europe and hit friends mentioned the fear that, driven craxy by the charges mads during the last few days, he had committed suicide. t Hitchcock disappeared less than three heurs before the grand Jury filed true bills containing six Indictments on the strength of accusations made against him by Helen Von Hagen. Elsie Voecka and Flora Whlston—the young girls with whose stories his name has been linked for the past week. Wife an Armenian. Flora Zabelle. the beautiful wife of Hitchcock, declared he had been lured ...... and murdered by the band of blackmailing Hunchaklst assassins which terrified the Armenians of -New York last summer. His wife was Zabelle Mangasarlan, daughter of a wealthy Armenian preacher. The family lived on a mag nificent estate on the Bosphorus be fore It was driven from Armenia by Ihe secret societies there, tearing that he would be killed If he ever returned to Armenia, Mangasarlan presented his Armenian estate a year ago to Hitch cock, who had married his daughter In 8t. Louis In May, 1905. CRITICISM STOPS COLLEGE BOXING Raleigh. N. C„ Oct. 31.—Although an other (the third) fistic encounter be- tween the freshmen and sophomores wo* planned for this afternoon at the State Agricultural and Mechanical t’ol. i,.„ here the announcement was made after noon that the fight had been or dered discontinued. In deference to the severe criticism of the public and the resolutions of the senior class last night condemning the practice. . And "Itaxlng” has not been sloped, although that waa iba object of the hew departure. The ranged of Alabama, will 1* hold In tho private library of Governor Smith at the executive mansion Friday morning. Juat how many of the chief executives will be here Is not kuown yet. A pr6a» dispatch stated that Governor Htranson, of Virginia, would hardly be aide to come, at ho had another pressing engagement. Gov ernor Smith, however, bae beard nothing from him. Governor Ansel, of South Caro lina, one of the last to ln» Invited, has not yet communicated with the governor luul eating his intentions. It teems probable now that the conference will Include Governor Smith of Georgia. Governor Corner of Alabama and Governor Glenn of North Carolina. Raleigh. N. C., Oct. M.-Goveruor Glenn left this afternoon to attend the railway rate conference nt Atlanta tomorrow, with Governors Smith and Corner. Before leaving he stated to the flearst News service tnat he had not made any agreement with anybody, nor baa he been a party to any proposition for a compromise. It la understood here be will oppose any thing higher than the new North Carolina law of 2>i cents a mile stipulates, until the latter Is given a fa)r trial. SAY HE INSULTED HIGH SCHOOL GIRL Thomas Hazelwood, of White Pine. Tenn.. a carpenter, waa arrested (in Thunday afternoon by Ofllcer Rowan and la held at the police atatlon on a charge of Insulting the pupil* .at the Girl*’ High School. Hr soya he ha* been on n spree and know* nothing of any wrongdoing. AMERICANS KILLED AT VLADIVOSTOK Washington, Oct. 31.—Dispatches have been received by the state de partment from St. Petersburg, confirm ing the report that several Americana were killed In the bombardment of Vladivostok by Russian mutineers yes terday. PEONAGE IN SOUTH TO CAUSE SENSATION Washington, Oct. 31.—The attorney general I* considering the propriety of making public the sensational report on peonage practice* In several South ern states, submitted after a personi| Investigation by his special assistant. Miss Mary Grace Quackenbos. Certain astounding disclosures may > make Its publication undesirable at thla time. Directions have already been sent to the district attorneys of Alabama and Mississippi to act upon this evidence secured by Miss Quackenbos. DR. GILLETTE IS OUT ON BAIL Atlanta’s banks have an average of $250,000.00 each to their credit in New York City alone—they keep that much there all the time. New York, though, is just now short of cash money because so much of it has been taken out of circula tion temporarily. Of all the money in the United States, which is over 3,000 million, more than 2,000 million is now being held by individuals. This makes it hard for us to get enough money until these people release it back into regular business chan nels. Atlanta banks have plenty of money, but have issued two million dollars’ worth of the above certificates to be used until they can get hold of the usual amount of cash. There are over 30 million dollars represented in Atlanta’s banks, and every cent of it is behind these certificates. Every certificate is worth 100 cents on the dollar, and The Georgian warns the working people not to accept a cent less than their face Value for them. ARE ACCEPTED AT FULL FACE VALUE PANAMA CANAL TO BE WIDENED Washington, D. C., Oct. 31.— The Panama canal will be widen ed ten feet, making 110 instead of 100 feet. This is the decision reached by officials of the navj; department after a conference at the white house Tuesday, when the question was considered at length by President Roosevelt and his cabinet. The determination conference of Soutbera governors, *r- rcachctJilUL.tbe officials ju (ihatf-'U, i ArThinfiwfflw of Owernor comer. 0 f tKe canal Work, it is thought, was on direct advice from Presi dent Roosevelt. NEW GAME SEASON OPENS ON FRIDAY The bird season In Georgia will open Friday. Scores of Atlantans are getting ready to go out on early trains Friday morn ing to put In a day of quail shooting. It Is expected that over a hundred hunters will leave the city early In-lhe morning. According to reporte, birds are more plentiful than they have been in years. The past season nas been unueually favorable for breeding. MERCHANTS AND BANKERS INDORSE NEW CERTIFICATES George Muse—“The certificates are as good as gold. They will be accepted by merchants.” Frederick J. Paxon—“A wise, prudent move. The certifi cates are as good as government bonds.” / E. R. DuBose—“Certificates are worth 100 cents on the dollar. I am pleased with the action taken,” John MorriB—“It is a wise plan,' I fcannot conceive of a more desirable form of currency.” Asa G. Candler—“The certificates arc hacked by the re sources of all the hanks combined. There is no chance for any body to lose.” Robert J. Lowry—“The cereifleatcs are. in my opinion, the best money in the world.” Robert F. Maddox—“These certificates are hacked by gilt- edged securities. They arc the best circulating medium.” C. E. Currier—“I do not know a single bank in Atlanta that is not stronger today than twelve months ago.” Race Results. JAMAICA. First Race—Glen Echo, 6 to 1, won; Hooray. 1 to 2, second; Oat rich, 5 to 2, third. Time 1:48. OLEMSON DEFEATS NORTH CAROLINA Columbia, S. C’„ Oct. 31.—Cfemson 16. University of North Carolina 3. ONLY A PASSING CLOUD New York, Oct. 3!.—Justice Dowling this afternoon prevented the execu tion of the sentence of six months In the penitentiary on Dr. Waller R. Gil lette, formerly vice persldent of the Mutual Life Insurance Company, by Issuing a certificate of reasonable doubt which will take the case lo the appel ate division. WOMAN KILLS SELF; PUPILS IN PANIC Hill a teacher In the House at the foot of Dyckman street, com mitted suicide today by shooting her self In the head. The TOO girl* In the Institution were thrown Imo a panic and began rushing wildly through the corridor*. Miss Hill. 30 yean old. was a well- known charity worker, originally from Louisville. Ky. Two week* ago she *- gun showing signs of despondency. Certificate Plan Heartily Approved by Atlanta’s Merchants. , The action of the Atlanta Clearing Houee Association, which on Wednes day night decided to authorize the Is suance of 32.000,000 In clearing houee certificates, backed by ample securities and protected by bonded trustees, has met with the strongest Indorsement from the leading merchants and busi ness men of Atlanta, who will accept tho certificates at their full face value as willingly a* they would accept coin or currency. The flret of these certificates were Issued Thursday morning and are being accepted as currency by all business houses. The merchants understand ful ly the reasons for the action of tho Clearing House Association and know that the Issuance of the certificates la merely a precaution to Insure a safe and convenient circulating medium. The banks began Thursday to ob serve that section of the Clearing House resolutions governing the withdrawal or depoMta. No depoBltor waa permit ted to draw in cnah more than 150 for the day, and will not be permitted to drtt V r mor '' than $100 doting the week. This does not mean, however, that all checks Will not be honored, but that checks for more than these amounts will be paid In the Clearing House certificate* Instead of currency or coin. The action of the association is Intended to safeguard the supply of ca*h on hand In the banks and to pre vent the whipping away or hoarding of coin and currency. Statements from the leading mer chants of Atlanta show that they have perfect confidence In the certificate plan and In the financial security of Atlanta banks. From the bankers come full explanations of the certificate plan, with the reasons for Its adoption. Last City to Take Stap. Atlanta la the last big money center of the country to take this step. It was found advisable In order lo facilitate the moving of the cotton crop and to relieve the stringency of the money market. The securities, which will make these clearing house certificates os safe and as sound as government bonds, will be placed In the hands of C. E. Currier, (•resident of the Atlanta National Bank; R. J. Lowry, president Lowry National Bank, and W. L. Peel, presi dent Maddox-Rucker Banking Compa ny. This committee will compose the trustees. The certificates will be Issued In de nominations of from 36 to 3600 and will be as good as currency—In fact, will be currency--and will be accepted In payment of any debt and all debts, not even excepting taxes. Each of the aeven banks constitut ing the clearing house association has taken out 360,000 of these certificates, and for this total amount clearing house certificate securities to the value of 3626.000 have lieen placed In the hands of the trustees. To Limit Cash Withdrawals. In addition lo the decision to Issue these certificate*, the clearing house further determined to limit cosh pay ments against all accounts to 3(0 per day or 3100 per week. Exceptions will be made In the case of pay rolls, for which payments will be In certificates In denomination* of 36 and over and In cash In denominations of less than that amount. In taking this action Atlanta Is fol lowing the same course already deter mined upon and now being followed by New York, Chicago. St. Louie, Phila delphia. Cincinnati. New Orleans. Nashville, Birmingham. Baltimore. Louisville. Memphis, Montgomery. Mo bile and other principal cities all over the country. Clearing House Banks. The following banka compose the At. lanto Clearing House Association: At lanta National Bank. Lowry National Hank, Fourth National Bank. Maddox- Rucker Banking Company. Neal Ilank. Third National Bank and Central Bank and Trust Corporation. All the other banks In the city hgve adopted the same plan a* that adopted by the banks of the clearing house association. The following are the resolutions adopted by the dearths house ataoclg- tlon: The Resolutions. In view of the action taken by the New York clearing house, and suhse- iinenttv adopted bv Chicago. St. Louis. Philadelphia. Cincinnati. New Orleans. ■‘3 Nashville. Birmingham. Baltimore. Louisville. Memphis. Montgomery, Mo bile and many other principal c.ttes throughout the country, restricting the shipment of currency and the restric tion of other business to Its proper channel, the clearing house; therefore, he ft resolved by the Atlanta Cleat Ing House Association: t. Tliat until further notice collec tions and bank balances he settled In exchange of clearing house certificate.. That check* drawn on the meni- Continued on Pags Twe.