Newspaper Page Text
ATLANTA, GA., THURSDAY, FEBRUARY 13, 1908.
OFFICERS OF NEW BANK
The Atlanta Georgian
O ' . AND NEWS
PPT/YIP, Id Atlanta..TWO CENTS.
.rlXJAAEi. On Train*..FIVE CENTS.
CA. FARMERS CHAMP CLARK ROYAL RULERS
C.O.P.
YET III HINDS
OF CEO. BELT
acu
THE WEATHER.
Continued unsettled weather, with
rain Thursday night and Friday.
Thursday temperatures: 7 a. m.,
62 degrees; 10 a. m.. 57 degrees;
12 noon. 53 degrees; 2 p. m„ 55 de
grees.
SPOT COTTON.
Liverpool, steady; 6.2*1. Atlnntn, steady;
11%. New Orleans, quiet and stendy;
11%. New York, quiet; 11.56. Augusta,
stendy; 12c. Snvnnunh. steady; 11*4-
Wllmlngton, steady; 11%. Memphis,
steady; 11%. Houston, steady; 11%.
Maddox-Rucker Bank
To Increase Its
Stock.
TO BE AMERICAN
NATIONAL BANK
New Issue of $100,000 Stock
Will Give Capital and Sur
plus of $1,000,000.
At a meeting of stockholders,
just held, it was decided to con
vert the Maddox-Rucker Banking
Company into o national bank, to
he known as the American Na
tional Bank of Atlanta, and to in
crease the capital stock to $600,-
000. *
The bonk has now a surplus of
$:150.000, and it is the intent of
the company, to iasue $100,000. ad
ditional stock as soon as a nation
al charter is secured. The bank
will then have a capital of $600,-
000 and a surplus of more than
$400,000, making it a million-dol-
lar bank.
It is purposed to place some of
this stock among the bank’s
friends in this section and to in
crease the number of directors,
The change will be made within
sixty days.
The hank has already increased
its capital stock from $2f)0,000 to
$500,000, the limit of capitaliza
tion allowed by the present char
ter, bnt intends to issue $100,000
additional stock.
This additional Btock of $100,000
he offered to friend* of the bank at
2160 per share, which Is the book value
i, fter the changes of Thursday. T-hls
sale will realise 1150,000, of which 1100 -
ono will go into tho capital stock and
160,ooo to the surplus and undivided
profit*.
The officer* of the national bank will
be the siime as those of the Maddox-
Ilucker Ranking Company.
statement of President.
President W. L. Peel made the fol
lowing elntement:
"We have decided to concert our
hank into a national banking lnatltu-
tlon for the reason that we believe that
tho present and future legislation of
congress regulating our currency of tho
United States will be of beneflt to the
national banks, and can only be taken
advantage of by banks operating under
a national charter, and we bellere that
the policy of the secretary of the
treasury will be In the future to favor
the national banka operating In this,
the growing section of the South.
"Our banking buslneas haa been ao
conducted that we can convert our
hank Into a national fmnk without any
Interruption of buslneaa In fact, we
have been observing the rules of no
tional banks In our banking business
for many years. The bank does not
owe a dollar ahd tta assets are clear
and commercial. Wo have no loana on
real estate, own no real estate, nor have
v-e eny loans in excess of the 10 per
cent legal requirement. We have re
ceived lettera from the comptroller of
the currency In Washington, who aays
there will ha no delay In making the
conversion, and our buslnesa will go on
without any Interruption whatever. We
will make the change as toon as the
law will allow, which will probably be
within the next sixty days.
"Wo have already Increased our
capital stock to 1500,000, which la the
limit of capitalisation allowed by our
present charter, and we now have a
surplus and profit of 2350.000, but It la
our intention to issue 2100,000 addi
tional stock as soon a* we can
►"Cure a national charter; and we will
■hen have a capital of 2500,000 and a
surplus of over 2400,000, making a mil
lion dollar bank, which will be called
the American National Bank of At
lanta. It Is our Intention to place some
of 2100,000 new national bank stock
among our friends In this section and
to Increase the number of Our direc
tors.”
Colonel W, L. Peel’s Career.
W. L. Peel, president of the bank.
I" Ran his banking career in the Bank
of Americus, Ga.. In 1871, and six years
later, in 1877. he accepted the position
of cashier of the Bank of the State of
Georgia. He filled this position with
1 redlt until 2880, when he joined Colo-
ft"l R. F. Maddox and J. W. Rucker
In organising the banking Arm of Mad.
dox-Rucker Company. In 1881 he was
►tected cashier of the Maddox-Rucker
P-nklng Company, which began aa a
state bank, and upon the death of
President J. W. Rucker, In ISM, he was
elected president, holding this office
since that time.
Colonel Peel is also president of the
slid Dominion Ouano Company, and ha*
COLONEL WILLIAM LAWSON PEEL.
He is president of the Maddox-Rucker Banking Company and promi
nent in Atlanta’s business and social life.
ROBERT F. MADDOX.
Vice president of Maddox-Rucker
Banking Company.
THOMAS J. PEEPLE8, '
Cashier of Maddox-Rucker Bank
ing Company.
HOW ATLANTA’S BANKS
HAVE STEPPED FORWARD
The Increase In the capital stock of
the Maddox-Rucker Hanking Company
from 2200,000 to’2500,IPO. which later
will be made $600,000, Is another step
In the progress of the Atlanta banks
within the past year.
Only a few weeks ago announcement
was made that the. espltal stock of the
Third National bank would be in
creased from 1200.000 to $500,000. The
stockholders of the bank will meet at
3:30 o'clock Friday afternoon for the
irpose of authorising this increase.
This menns that an Increase of 2700,-
000 will have been made In the capital
stock of Atlanta banks within a few
months. ...
Tho Increase In the circulation of
the national banks of Atlanta within
the last six months haa been even more
remarkable.
The Increase in circulation of the
four national bank,'; In lhat time has
been nearly 21.0QC be exact
2S7C.OOO. The circulation of. the At
lanta national bank* a few months ago
was 21,175,000. The circulation of
these banks nt thin time Is 22,050,000.
The increase is nearly 100 per cent.
The circulation of the Lowry Nation
al bank has been increased from 2500,.
000 to 1800,000.
The circulation of the Fourth Na
tional bank has been increased from
2400.000 to 2600,000.
The circulation of the Atlanta Na
tional bank has been Increased from
$200,000 to $500,000.
The circulation of the Third National
bank has been Increased from 275,000
to $150,000. .
Hundreds Gather at
Station To Greet
Educators.
By JACK L. PATTERSON.
M’OONOUQH, Gs.fPsb. 13.—Among
the prominent, citizens of McDonough
who visited the special were Judge
Paul Turner, of the city court; Hon.
E. M. Smith, representative of Henry
county, ex-mayor ymd candidate for
solicitor of the Flint circuit, and Pro
fessor Lawrence IWffey. county school
commissioner. Professor Duffey
member of the board of trustees of the
Sixth district agricultural college at
Bamesville and In him' agricultural
education has a loyal sur*orter. I’ro
feasor Duffey has ordered an agrlcul
tural library, consisting of all the pub
llcatlons recommended by the State
Agricultural College.
Professor T. K. Scott, of Barnesvlllej
superintendent of the Sixth district
agricultural college of Bamesville,
Joined the party here.
The special was not scheduled to
—op at Bremen, but during a delay o'
40 minutes Professor Souie and Pro
fessors Jarnngln and Read delivered
brief lectures to a Urge crowd that
had assembled to see the train pass.
At Temple a multitude of Carroll
county’s most progressive citizens were
awaiting the arrival of the train. Here
the public achool,. Misses Inez McDan
lei and Mary Lou Carmichael, teach
era, suspended and attended the lec
turea In a body. The mayor and many
prominent citizens of the town wela
corned the educational party in tha
real Carroll county manner.
Open Air Meeting.
The special arrived at Tallapoosa,
the last-stop for Wednesday, at 4:20
‘ ick. A large and representative as
sembly of citizens, headed by Mayor
J. L. Head, attended this session. Here
It was necessary to hold an open-air
meeting. Dr. Soule and Professor Reads
Continued on Page Twelve.
Atlanta and Charlotte - Mo
torists Offer Good
Route,
BISHOP. OF GEORGIA
IS NOT YET SELECTED
AUGUSTA, G*., Feb. 13.—The bishopric of the Georgia diocese • seems
to lie between Rev. Houston, of Charleston; Rev. Reese, of Nashville, and
Rev. Winchester, of Memphis. The fight will probably end late this after
noon.
The convention went Into executive session at 11:30 o’clock today.
SAYS WALL-ST WANTS BRYAN IF
CONGRESS PASSES ALDRICH BILL
Continued on Page Twelve.
money scarce or plentiful.”
The biggest “joker” in the Aldrich
bULIs'declared to be tfie one that wipe*
out entirely the restriction in the na-
11 on at- banking law on the amount of
currency and bank notes that may be
received In any one month.
Wali-et. for Bryan.
"ThiB makes It possible,” asserts Mr.
Crozler, "suddenly to contract and de
stroy the entire 1700,000,000 bank note
currency ami also the $500,000,000
emergency currency, or a total of $1,-
WASHINGTON, Feb. 13.—During his
addresi in tho senate wWle discussion
of the Aldrich bill was on Senator
Tillman presented a petition frnm Al
fred O. Crozler. a lawyer, author and
student of finance, of Wilmington, Deb,
that attacked Wall-st. In scathing
te The Aldrich bill was assailed as a
Wall-st. currency measure and it "as
practlc/Uly charged that the recent
panic' fas made to order by the great
financiers* of New York. . 200,000 of currency used by the people
According to Mr. Crosier, the Aldrich ^ mon ey."
bill Is r.ot a measure for an elastic cur- jj r , crozler rays that most treasury
rency. bat one for a contractive cur- j officials leave the public, sc nice to go
renev and so Is the bill for a centjal { w un Woll-st. banks paying $25,000 to
bank.' 1 $50,000 salaries.
Power In Private Hands. * ! ’ They could not do this,” he says, ”ff
"Both wish to take from tho govern-1 their conduct In public office should
into nrlvftte hands the j displease such Interests.”
SLmnrag power* to Contract and ex- S Mr. Crozler gives voice to the belief
S the DUbTic currency suddenly In .that Wall-st. Is seeking to elect Bryan,
E™ v»u11me ” h esays, In his petition, providing It can get the Aldrich bill.
'‘Stable them to manipulate The election of Bryan would block
™*,,r ihe d prices of listed securities.! progressive legislation and would Inflict
property and P tabor by simply making j revenge on the ^oo««v«it regime.
Automobile enthusiast* of Atlanta,
Charlotte. N. C.. and other cities are
making effort* to have the Glldden
tour come to the South this year.
Thin htg nuto event, which take* placo
each summer, starting from Buffalo,
" “ Is of much Importance to auto
sis, nnd great Interest ha* beei
aroused In the South by the announce
ment that the committee of the
American Automobile Association
which ha* It In charge Is considering
a Southern route.
The Atlanta Automobile Club,
which F. L. Seely «* president, will
take steps to bring the tour to the
South. Other cities will co-operate,
and It I* probable that the various
boards of trade* and chambers of
commerce will offer their old.
Upon the request of the committee,
W. T. Cnrwlth, Beeretary of the Great
er Charlotte Club, and O. L. Barrin
ger, of the same city, have submitted
the following proposed route over
which the tour may be made thla sum
nter;
Starting at Buffalo, thence to Cleve
land, Akron, Columbus, Dayton and
Cincinnati. Ohio; Lexington, Frankfort
and Louisville, Ky.; Nashville, Mur
freesboro and Chattnnooga. Tenn.;
Rome, Atlanta nnd Athens, Ga.:
Greenville and Spartanburg. 8. C.;
Charlotte and Winston, -N. C.; Dan
ville, Lynchburg, Staunton and Fred
ericksburg, Va.; Washington, Balti
more, Philadelphia and Buffalo.
As the long distance race Is. In a
way. a test of the endurance nnd abil
ity of the machines, dll kinds of roads
are wantod. Southern nutomoblle men
believe that as good a curse can be
mapped out thru this region as In any
other part of tha country. Atlanta
would be tho furthest Southern point
of the' propored tour .and tt Is proba
ble that a stop of a day or more would
be mode here before the retur# North.
Roosevelt Will
Send Troops to
Quell Disorders
WASHINGTON, Feb. 13.—Attorney
General Bonaparte called upon Acting
Secretary' of War Oliver today rfnd
asked for the dispatch of government
troope to Fairbanks In the Yukon min
ing district of Alaska.
Acting Secretary Oliver expressed a
willingness to dispatch i any troops
available If they can reach the ecene
In time.
Major General J. Franklin Bell was
called upon and orders probably will
be Issued as soon as he decides upon
the most available troop* and a means
of getting them to Fairbanks. Two
posts In Alaska are garrisoned.
Says Republicans Are
Trying Big Confi
dence Game.
WANT MORE TIME
TO REVISE TARIFF
Have Been in Office Eleven
Years, Says Clark, But
Nothing Done.
WASHINGTON, Feb. 13.—Charging
the Republicans with trying to work a
"stupendous confidence game" on the
American people by declaring In their
next platform for tariff revle|on, with
out Indicating whether that revision is
to be up or down, Representative
Champ Clark, of Missouri, Democratic
candidate for speaker fn the next con
gress, hurled another Philippic In the
houee today. I
Replying to Republican Floor Lead
er Payne's recent tariff speech, Mr.
Clark said:
"Mr. Payne's position seems to be
about this: 'Tariff revision and a max.
Imum and minimum tariff should be
brought about.' ’
“Tariff Pigs In Poke.’’
'The Republicans hare had absolute
control of all branches of the govern
ment for eleven years, and have left
undone In this regard that which they
ought ,to have done, but If the people
will only overlook past omissions and
give them a new lease of power, they
will revlee the tariff either up or down
and establleh a maximum and mlnl-
t tariff, with the Dlngley rates
Contlnusd on Page Twelve.
J.W.VANCLEAVE
Head of Manufacturers’ As
sociation Guest of
Atlantan.
JAME8 W. VAN CLEAVE.
He 1s president of National Asso
ciation of Manufacturers. .
In honor of James W. Van Cleave, of
SI. Louis, president of the National
Association of Manufacturers, David
Woodward entertained at an elaborate
dinner at the Capital City Club Wed
nesday evening, to which were Invited
fifteen prominent Atlanta business men.
Mr. Woodward, as host, presided and
at the close of the dinner introduced
Asa G. Candler, president of the Cham
ber of Commerce, who made a brief,
pointed speech upon' manufactures and
the value of the organization of which
Mr. Van Cleave Is president.
Mr. Van Cleave made a pleasing and
Instructive address. In which he com
pared the South a* he bbw It thirty
years ago with the Atlanta of the
present declaring that the great growth
came as a revelation to him upon hta
return South three years ago. The
prosperity of the South, he said, had
only begun. He believed (Jiat some of
those present would live to see the day
when this would be the greatest manu.
facturlng region In the whole country.
The cotton crop, of great value, should
be manufactured at home, he said.
Speaking of the work of the National
Association of Manufacturers, he said
that as the workingmen had organized
and carried their Ideas too for, it wae-
necessory for the manufacturers to or-,
gnnlze for protection.
Brief speeches were made by F. L.
Seely. R. F. Maddox. J. K. Orr and C.
J. Haden, all of which abounded In
pleasantry and expression* t>f welcoma
to Mr. Van Cleave.
Those present at the dinner were
David Woodward. J. W. Van Cleave,
Asa O. Candler, J. K. Orr. L. H. Beck,
James R. Gray, W. M. Nixon, Frank
Hawkins. M. R. Wilkinson. W. B. DIs-
bro, W. O. Cooper. C, J. Haden. R. S.
Weasels, F. L. Seely, J. W. Pope and
R, F. Maddox.
Crowned Heads of Eu
rope Send Experts
to Portugal.
MADRID, Feb. 13.—An uncensored
dispatch from Lisbon states that se
cret service agents from England, Spain
and Germany are working secretly to
get to the bottom of the plot which
resulted In the: assassination of King
Carlos and the crown prince. Other
nations, whose rulers have been threat,
ened from time to time by anarchists,
will Join In the movement.
This course was decided upon pre
vious to the release of the 100 prisoners
who were arrested on suspicion. King
Manuel was advised by the nilers of
Europe that It would be dangerous to
openly pursue the plotters and further
ferment the political conditions, and he
was further assured that for the In
terests of European nations a concerted
effort would be made to discover every
detail of the plot and bring to Justice
those connected with It.
It Is known that three of the best
"political" secret service men of Scot
land Yard arrived In Lisbon yesterday
and are working In conjunction with
the Portuguese secret police.
When conditions are more quiet, the
ring-leaders will be quietly arrested.
Already several of them have been dis
covered, It Is said, and altho they are
aware of the movement to make pris
oners of them, they can not leave the
country, knowing that they will be ar
rested at the first attempt to cross tbs
border. They are under strict survell'
lance.
The decision of the ruler* to co-op'
srats In running down the anarchists
was but natural, In view of the numer.
ous plot* discovered In different coun
tries. King Alfonso of Spain hss spe
cial reason to war against the an
archists, and Eni
anxiety thru the I
EVANS'FLEET TO BE
OFF VALPARAISO
HARBOR FRIDAV
Dispatch Says Admiral Is
Better and All’s Well
With Fleet.
VALPARAISO, Chile, Fsb. 13.—From
what Is known today of the American
battleship squadron’s whereabouts. It
Is figured here that the fleet will be off
Valparaiso tomorrow. Tho the fighting
ships can not enter this port, prepara
tions have been made for an elaborate
display In their honor ea they pass.
Throng* of people ere pouring Into the
city from surrounding towns and every
vessel In port has been chartered to put
out lo sea to exchange greetinga with
the squadron. The vessels will pas*
close enough for salutes with the shore
batteries.
EVERYTHING GOING WELL
WITH AMERICAN FLEET.
WASHINGTON, Feb. 13.—“Every
thing Is going well. Admiral Evans Is
much better." This I* the message re
ceived by the navy, department today
from Admiral Simpson, of the Chilean
navy, on board the Chacabuco, which
accompanied the fleet thru the straits.
The wireless bears the date of Tuesday,
p. m. ,
WHAT CONGRESS
DID THURSDAY.
WASHINGTON, Feb. 13.—In the
senate today Senator Martin, of Vir
ginia, presented a bill for a memorial
pllldr In honor of Colonel Burgess Ball,
of Virginia, a distinguished revolution
ary soldier, to be erected In Lafayette
Square or some other suitable part of
Washington City. An appropriation of
$50,000 Is carried In the bill.
A bill was favorably reported for the
construction of a revenue cutter at
Narragansett to cost 2125,000.
The senate entered In a discussion of
the use of banking reserve which
participated In by Senators Rayner,
Aldrich. Bailey. Clapp end others.
Senator LaFollette Introduced a bill
relating to the liability of common
carriers to their employers.
Senator CulbersonjIntroduced amend
ments to the AldrichNrill requiring na
tional banks to keep their reserves In
their own vaults and a resolution re
quiring them to pay Interest op de
posits.
In the house the census committee
agreed on a bill for the taking of the
next census, which will cause the em
ployment of 1,800 extra clerks In Wash
ington.
Representative Gillette, of Massa
chusetts, made a speech for the enact
ment of a new employer’s liability bill.
WASHINGTON, Feb. 13.—O. Howard
Royer, aged 57, assistant general
freight agent of the Norfolk and West
ern at Roanoke, Va., and manager of
the Great Southern States Dispatch,
died suddenly at the Hotel Raleigh this
morning from cardiac paralysis. His
body was sent to Roanoke this after
noon for burial.
Month Before Find
ings of Court Reach
President.
STILL IN OFFICE
CHIEF OF STAFF
Cannot Be Sent to Sec ’y,
Taft Until His Return
From West. jueiM
WASHINGTON, Feb. 13.—The find- I
Inga of the Major Hancock court- I
martial case are still In the Offlce of
Chief of Staff General J. Franklin Bell, j
They can mot be transmitted to the '
secretary of war's office until Secre
tary Taft returns from his Western I
trip. It may be a month yet before the '
findings finally reach the president for !
his approval.
KENTON TO SPEAK
TO BIG AUDIENCE
OF BUSINESS MEN
Successful Salesmanship To
Be Subject of His
Address. - A
Every detail for the lecture on "The
Science of Successful Salesmanship” at
the Grand opera house Thursday night
has been completed. President Asa «.
Candler, of the Atlanta Chamber of
Commerce, will Introduce the speaker •
of the evening, J. D. Kenyon, of Chi
cago. The demand for seats hns been
far In excess of all anticipation.
The seats for Mr. Kenyon's address
have alt been taken, nnd Mr. MnsBen-
gale requests that those who hnve
tickets and who will not be able to
hear the address return them to him
In order that others may receive them.
There Is already a long waiting list.
From the very first day tho letters
were sent out by St. Elmo Massengale,
who secured the services of Mr. Ken
yon and Is acting a* host of the occa
sion, requests have been coming In at
his offices In the Candler building. All
who hold orders for these tickets ore 1
urged to have them exchanged for re
served seat coupons nt the Grand box
ofllce at the earliest possible moment,
as all of the reservetf seats In the house
are going rapidly. In order that no one
shall be disappointed, tn» doors of
the Grand will be thrown open at 7:30
and the lecture will begin at 8:16. This
will enable many to hear the lecture
who have been unable to reserve seats.
Of course this entire lecture Is given
Continued on,Page Twelve.
INE
TORE-OPENMONDAY
Van Winkle Company to
Employ 200 Men in
Plant. ,
V*n Winkle Gin and Machi—
reamue operation* Monilay tnorulmr.
It w*» nt*ted at the "fflcf* Tbunwlny
that everythin* waa In roaillnc** to resume
Monday ou fall time, and with a full force
of workmen. The work* hare been cloned
down since the holiday*.
Former employee* will be liven prefer
ence over nil other*. The emupauy ha* ;i
hirze number of order* on band, ana an*
tlcfpute* a proaperou* year.
THREE AUTOS IN
ARRIVE IN ALBANY
ALBANY, N. Y., Feb. 13.—After fac
ing worse roads than dreamed of
this side of Alaska and Confronted by
landscapes such as they had pictured
of bleak Siberia, three contestants In
the New York-Parl* auto tour, the
Thomas, Zost and Dedion cars, ar
rived here shortly after noon. The
other three car* are supposed to have
turned back at Hudson or to have been
hopelessly stranded.
YOUTH JUMPS OFF
BROOKLYN BRIDGE
NEW YORK, Fob. 13-—Watched by
hundreds of persons and eluding n
policeman who trt.ed to prevent the at- !
tempt, John G. Grant, a poorly drer.ed
voung man. Jumped 120 feet from the
Brooklyn bridge today Into the Ice-
clogged water* of Hast river. He was
Icked up uncon*clou* and will live. 1
le barely ml**ed a large cake of Ice.
which. If he had hit It, would have
(,'tshed out Me brain. j