Newspaper Page Text
13 D
HEARST’S SUNDAY AMERICAN, ATLANTA. OA., SUNDAY. AUGUST 10, 101.1
Cashier of Barber Shop Rose To
Be Ranked With Morgan and
E, H, Harriman.
KEPT HIS FOLLOWING INTACT
Inspired Unswerving Loyalty by
His Faith in Men—At His
Best as a Builder
Big Money in Souths Sweet Potato
Crop if Properly Stored and Marketed
Value of Sweet Potatoes Increases 80 Per Cent During Last Ten
Years—Ninety Per Cent of Crop Grown in South Atlantic States.
Great Demand Not Supplied.
CHARLES A. WHITTLE.
CHICAGO, Aug. 9.—Wall Street
tacks leadership and the recent de
mise of Anthony N. Brady removed
another great figure from the finan-
cial galaxy depleted by the deaths
of E. H. Harriman, J. P. Morgan,
John W. Gates and Edwin Hawley.
As a financier of great ability, his
leadership In commercial enterprises
was made pre-eminent by the success?
he attained in building up Brooklyn
Rapid Transit, Consolidated and
People’s Gas, American Tobacco and
United States Rubber, for which he
made conspicuous markets during
periods of activity in stocks.
His constructive ability appeared to
be limitless’ and his policies had a
wide following, particularly in public
utility operations. At the time of
his death, he was a director in sixty
corporations. Mr. Brady’s first im
portant business transaction was the
acquisition and consolidation of trac
tion companies in and about Albany.
He built these up to a high degree
of public efficiency, a? well as profit
to -stockholders, and eventually sold
them at good terms to the Delaware
and Hudson. Similarly with the
Providence Tractions, which he sold
to the New Haven.
He Trusted Men.
Loyalty to his friends and business
associates and scrupulous honor in
keeping agreements made him one of
the great powers of finance, but he
went further than that. He trusted
men. believing that those with whom
he chose to do business would be as
highly honorable as himself. In his
relations with his friends he was not
alone loyal.
He went out of his way to help
them. The result was that most of
them were ever on the alert to help
him. Wall Street never heard as
much as a rumor of dissension in th
Brady party, nor as much as an idle
report of financial troubles among
any of Mr. Brady’s associates. But
it does know of weathy men in Al
bany who were Mr. Brady’s friends
in early days and business associates
in New York and elsewhere who
have become both wealthy and prom
inent by his guidance. It knows also
that no Wall Street party ever held
closer together *or ever transacted
enjch important matters of business
with so little noise or criticism.
Loyal as Morgan.
“Mr. Brady stuck by his com
panies.” said one of his business as
sociates, “and he stuck by his friends.
Toward them his loyalty was of the
intensity of Mr. Morgan. Like Mr.
Morgan, he never withdrew from a
transaction oi*ce he had given his
word that he would participate. He
was a man of high honor in his deal
ings with all his associates and i^was
to his loyalty to them and their loy
alty and admiration for him that
his success was largely due.”
In his management of Consolidated
Gas and its subsidiary, the New York
Edison Company, companies which
were formerly bitterly assailed, Mr.
Brady’s policy was liberal to the
point where it eventually disarmed
criticism. It was through him that
George B. Cortelvou, on hi? retire
ment from the Cabinet, was per
suaded to accept the presidency of
Consolidated Gas and he collabor
ated with Mr. Corielyou in settling
all the mass of litigation with New
York City and State. As a builder
and a man of constructive policy Mr.
Brady’s work was before every one
in the development of the Brooklyn
Ranid Transit.
The company had been exploited
in the stock market before he ac
quired control and had never paid a
b dividend. Since that time it stead
ily developed along straight business
lines, placed on a 6 per cent divi
dend basis and !«• an important factor
in the rapid transit work now under
way in Greater New York
Made Money in Tea.
His career in the world in business
began ir. a barber shop in Albany. N.
Y., as cashier. Later he started a
small tea business. In that he showed
the remarkable business ability
through which he accumulated a for
tune. He established a chain of
stores in several cities in the north
ern part of New York. and. it was
said, through this enterprise he ob
tained the capital with which he be
gan his early operations on a larger
pcale. His *next enterprise was to
manipulate a corner in quinine Then
he obtained stock in the Albany Gas
Company and began his operations as
a promoter. Soon after he had be
come connected with the gas inter
ests he bought several large granite
quarries, which he disposed of at a
pig profit, and again turned his atten
tion to gas and secured several large
interests' in Albany, Troy and Chi
cago.
Studied Gas Chemistry.
When he had become interested in
gas Mr. Brady began a systematic
study of the business in all of its
phases He devoted weeks to trie
ptudy of chemistry a« applied to the
manufacture cf gas and finally
ndopted the De Mote plan. To make
the improvements he needed addition
al capital, so he took his plans to
Roswell P. Flower and Edward Mur
phy. They Interested E. C. Benedict
and Grover Cleveland and entered
into a deal by which the gas plants
of Albanv were purchased outright.
He went into the oil business and or
ganized the Manhattan Oil Companv
of Lima. Ohio, selling its output to
the Chicago Gas Company.
Speaking of big money-making
crops suited to the South, what is
the matter with the sweet potato?
For sure corps, good returns and a
growing market, take your hat off
to the sweet potato patch. Georgia is
“pulling down” some $5,000,000, Ala
bama some $4,000,000, Mississippi
$3,500,000, Louisiana $3,000,000, Ten
nessee $4,000,000, North Carolina
$5,000,000, South Carolina $3,000,000,
Virginia $3,000,000. Kentucky $1,000,-
000, Arkansas $2,000,000. Texas $2,-
500,000. Florida $2,000,000 in sweet po
tatoes each year.
Ask any groceryman if he ever ha?
enough sweet potatoes to supply the
demand. If he has, he is the excep
tion to the rule.
The South is the natural habitat
of the sweet potato. It is up to the
Southern States to supply the de
mand. The demand is growing, the
sweet potato patches are growing,
but the demand is quite a lap ahead
and gaining. In fact, there Is a wide-
open, attractive opportunity for the
Southern farmer in growing sweet
potatoes. Why not “go to it”?
The Spread of the Potato Patch.
Under the inspiration of a growing
price and an enlarging market, the
sweet potato patches have extended
their area during the census decade
previous to 1909 39.3 per cent for the
country a? a whole. While the South
ern States have them all beaten In
advantages, every State In the Union
is growing potatoes and only four-
are falling away from the habit and
show a decrease in the decade period
mentioned. These are Pennsylvania,
Indiana. Illinois and Texas.
Georgia takes first place in the
amount of revenue derived from the
sweet potato according to census fig
ures. Other Southern States in their
order are North Carolina, Alabama.
Mississippi, Virginia. South Carolina.
Louisiana, Texas. Tennessee, Arkan
sas, Florida and Kentucky.
The increase which the census
shows for the last report for each
State is as follows: Louisiana 174 per
cent, Oklahoma 155 per cent, Arkan
sas 154 per cent, Alabama 112 per
cent. Mississippi 110 per cent, North
Carolina 104 per cent, Georgia 85 per
cent. Tennessee 84 per cent. South
Carolina 70 cent, Kentucky 66 per
cent, Virginia 56 per cent. Florida 3"
per cent.
The Southern States grow a very
great part of all the sw^eet potatoes,
and will continue to grow- them for
the special reason that the soil, cli
mate and long growing season favor
this kind of tuber. Therefore, the
increase In acreage and revenue from
this* source will belong to the South
in the future as in the past.
Increase in Price.
The census report tells us that for
the last decade reported that the
value of the sweet potato crop in 1909
in the South Atlantic States was
three-fourths greater than it was in
1899; in the WesY South Central
States nearly twice as great. Since
the South Atlantic State? grow over
90 per cent of the sweet potato crop,
it is important that particular refer
ence should be made to this territory.
In Georgia, for instance, the aver
age value of a bushel of potatoes in
creased 13 cents during the census
decade and has increased more since
then. In North Carolina the increase
in price per bushel during the last
census decade was 14 cents. In Ala
bama the increase has been 18 cents
per bushel, in Louisiana 9 cents pei
bushel, in Mississippi 17 cents.
The increase in the value of sweet
potatoes in the country as a w'hole
for the last census decade was 13
cents per bushel, or 30 per cent. The
increase has been continuing. While
there has been a general increase in
the value of all crops of the United
States, contributing to the higher
cost of living, yet the larger demand
for the sweet potato has pushed
ahead of the general average consid
erably.
While values have been estimated
in generalities of a census report, it
goes without saying that the intelli
gent, thrifty farmer has little to do
with such general averages. They are
very far beneath him. His yields per
acre, his returns per bushel are al
ways much in excess of the general
average. It is possible for the intel
ligent farmer, planting on good land,
to .grow from 100 to 800 bushels of
sweet potatoes per acre. It is easy
enough to average from 75 cents to
$1 per bushel. It is possible by good
storing to get from $2 to $3 per bushel
or even more by home canning.
Profits Can Easily Be Increased.
When a farmer finds the local mar
kets flooded at potato gathering time,
and can get only 50 cents a bushel,
he is disposed to believe that there
is not much in the sweet potato busi
ness. A great many growers are
content to market their crops under
such unfavorable conditions, rather
than go to a little more trouble and
get much better prices.
In some of the potato-growing sec
tions of the South the co-operative
marketing societies which have hanr
died the strawberry, cantaloupe, beans
or other early crops, also handle the
sweet potato crop in its season, ship
ping to some Northern market. Usual
ly better prices can be had in the
Northern market than prevails in the
local Southern markets.
Where canneries have been estab
lished an increasing amount of sweet
potatoes are being canned each year,
netting the farmer who knows how to
can successfully large returns. Even
where the potatoes are turned over
to the commercial canning plants the
revenue is larger as a rule than is to
be obtained upon a flooded market.
Storing is the Best Method.
More can be obtained from sweet
potatoes by storing them than by any
other method, with the possible ex
ception of canning. Since canned
sweet potatoes are not in as great
demand as the natural tuber, of
course, there is a danger of overdoing
the canning business at the first
A very valuable bulletin has just
been issued by the United States Dr 1
partment of Agriculture, entitled.
• Storing and Marketing Sweet Po-
Georgia State College of Agriculture.
tatoes,” by H. C. Thompson. This
has appeared as Farmers’ Bulletin 548,
and should be in the hands of every
farmer In the South who is interested
in growing and marketing sweet po
tatoes. Its particular value is in its
information as to how to store sweet
potatoes. It is well known to every
grower of sweet potatoes that the
storing proposition is quite different
from that of the Irish potato. Many
methods have been used for storing
the sweet potato in the South. Some
of them are successful, but most are
not.
The usual method is to bank them
—that is. bed them in straw and cov
er up with dirt, preferably under a
shed, but if in the open, the mound is
covered with boards. This method,
while serving well for the Irish po
tato, Is not so good for the sweet po
tato, which carries a greater percen
tage of water in its makeup.
It is for the purpose of giving the
farmers who grow sweet potatoes a
practical, workable storage plan that
the bulletin referred to has been is
sued.
Many Potatoes Spoil.
The writer says that from 25 to 50
per cent of the sweet potatoes stored
in pits or hanks spoil, and those that
remain are not to be considered of
first-class quality. He says that the
only safe and practical method of
storing sweet potatoes is in a storage
house.
To keep sweet potatoes in good con
dition they must be well matured be
fore digging, carefully handled, well
dried or cured after being put in the
house, and kept at a uniform temper
ature after they are cured.
A potato is ready to be dug when
after breaking one, the exposed
broken surface dries in a few minutes.
If it remains moist, the potato is not
mature.
The potato should be carefully han
dled when it is intended for storage.
It should be put in -baskets or boxes
and placed in the bins with the least
Jolting and bruising possible. If
stored in the kind of house which is
suggested, they can there be properly
cured.
The Best Storage House,
While a cheap storage house can
be made to serve the purpose, expe
rience has taught that to maintain
right temperature the cost of fuel and
the trouble will soon offset the extra
cost of erecting a good house at the
start.
A desirable wooden house is pref
erable because it is cheaper and eas
ier to keep dry'. It should be built on
posts or piers to admit of the circu
lation of air all around it. The “dug-
out” or house partly built under
ground is advised against for use in
the South because of the practical
impossibility of keeping such a house
dry. Moisture, of course, means rot.
For building a storage house that
will hold 2,500 to 3,000 bushels of
potatoes, a house 20 by 40 feet may he
erected. On the sleepers a rough f^oor
can be laid, and on top of this a layer
of heavv building paper placed, and
cn top of this matched flooring.
The walls can be built by putting
on the outside of the studding board
an inch thick nailed on diagonally.
Over this a layer of building paper
should he put, and then matched sid
ing. On the inside of the studding a
layer of ceiling should be placed; on
top of this a layer of building paper,
and then matched hoard of wainscot
ing. In the lower South it is claimed
that the first layer of ceiling on the
studding inside may be omitted.
The sides should be well tied to
gether with scantlings four feet part
so as to be over the partitions for
the bins. Any kind of roof may be
used provided it be made tight to
keep out the cold. Galvanized iron
is preferable. A layer of roofing pa
per over the rafters will S'erve to keep
the cold air out.
Coat of Paper Needed.
On the lower sides of the rafters
should be put a coat of building pa
per and on this a layer of matched
material.
The space between the walls should
be left open. No filling serves as well
as the air itself for keeping the build
ing free from moisture.
Thorough ventilation is nece c *sary.
Put three windows on each side, a
door in each end and at least two
ventilator? in the top of the roof. The
windows should be within 18 inches
or two feet of the floor and windows
and doors should be made to fit tight
and keep out the cold. Where glass
windows are used, outside shutters
should be employed. It is needflul
that there should be one or more glass
windows to admit light, while working
inside In the winter. Ventilators in
the roof must also be provided with
coverings to keep out the cold.
The bins should have movable
floors, made of slats one inch thick
and four wide, leaving one inch space
between each slat. The same is true
of the walls of the bins. The pur
pose in making a movable floor in
the bin is to admit of removing,
cleaning and disinfecting it durng the
summer. Between 6 and 12 inches of
?pace should be left in the walls and
the bins to admit of the circulation of
air. In slatting up the bin?, space
to the width of the separating scant
ling can also be made, that is, each
bin should have a separate end.
Log House Can Be Used.
Instead of going to the expense of
erecting the building described, many
Southern farms will be found a ten
ant house, perhaps a log house, which
can be converted into a sweet potato
house at little cost, remembering to
make them air-tight as far as pos
sible and introduce the ventilation
features which have been described.
After the potatoes have been put
in the storage house the tempera
ture should be maintained from 80
to 85 degrees Fahrenheit for ten
days or two weeks, depending on
weather conditions. Ventilation is
absolutely necessary at this period
and whether the temperature can be
maintained at the height mentioned
or not. it is better to keep all win
dows and ventilators open to drive
out the moisture-ladened air. If
moisture collects on the wall or ceil
ing at this period a fire must be built
at once to dry it out.
When the potatoes are thoroughly
dried or cured the temperature should
he gradually reduced and kept a? near
as possible around 55 degree
during the storage season. If
the temperature goes below 48 de
grees a fire should be made in the
house, or the house opened in the
middle of the day if the temperature
is high enough. If the temperature
in the houve goes above 60 degrees,
the house should be opened in the cool
of the day to lower the temperature
to 54 or 55. The house should have
some ventilation every day.
Secret of High Prices.
Potatoes bruised and cut during
the digging and handling accounts for
the poor price which many of them
bring. The secret of getting high
prices is to carefully clean and pack
and to put on the market when there
is a good demand. The storage house
will provide for the latter.
To clean potatoes requires very lit
tle trouble but it pays. To pack the
right lynd of potatoes is easy enough
when proper precautions are taken.
First it is better to use plows with
rolling colters on the beam to cut the
vines, and with rods attached to the
mold board to free the roots from the
soil and vine. The potatoes can then
be taken from the ground with hand
and should he sorted at this time.
Those of uniform size and good qual
ity should go into one pile for the
market, those selected for seed in an
other and the remainder can be
canned or fed to stock. Potatoes
should not be tossed from row to row.
nor packed in bags even to haul to
the storage house. It is better to
handle them in baskets or boxes to
storage and to market and thus save
waste from bruises and rotting.
Some Sweet Potato Facts.
Based upon the discussion of the
bulletin referred to in this article cer
tain conclusions have been summar
ized as follows:
The value of th e sweet potato has
increased about 80 per cent in the
last ten years. With methods of stor
ing and marketing the present value
could be doubled.
Sweet potatoes can be kept satis
factorily in a storage house where
the temperature and moisture condi
tions can he controlled.
Sweet potatoes to keep well must
be well matured, carefully handled,
thoroughly cured and kept at a uni
form temperature while in storage.
Thorough ventilation is essential
during the curing period.
The temperature should be kept at
about 80 degrees or 85 degrees Fah
renheit during the curing period and
reduced gradually to 55 degrees after
the potatoes are cured. Fluctuations
of temperature should be avoided
throughout the storage period.
The potatoes should be carefully
graded, cleaned and packed in neat
and attractive packages.
Sweet potatoes should never he
marketed in hags nor in hulk.
Veneer barrels or bushel hampers
are desirable packages to use during
mild weather and double-headed
stave barrels or tight boxes in cold
weather.
Chicago Banker, Former Comp
troller, Says Administration Act
Would Bring Disaster.
FIRST GINNING
Census Bureau First to Show
Amount to August 31—Dates
of Reports.
That the enactment of the admin
istration currency hill would be the
forerunner of commercial disaster by
placing the banking system under the
control of politics, is the prediction
of Charles G. Dawes, president of
the Central Trust Company of Illi
nois and formerly Comptroller of the
Currency.
Mr. Dawes issued a critical review
of the chief feature of the hill. He
is the firstj State banker to discuss
the measure in detail.
“The industry and capita! of the
country must awaken now to the
menace that confronts them in the
administration currency bill,” he
warns, “and not wait until after they
have paid the price of prosperity for
the knowledge which experience
would bring.”
Objections to Bill.
His principal objections to the bill
are summarized in the following par
agraphs:
“This plan compelling the national
banks to furnish to competitors (the
proposed Federal reserve banks)
both capital and business, and di
vorcing ownership from control by
putting these competitors under the
control of political appointees, brings
the banking system of this country
into the situation again from which
it emerged after Andrew Jackson,
hacked by the State banks on one
hand and the radical politicians on
the other, ruined the Second Bank of
the United States and plunged the
country into the devastating and ter
rible panic of 1837.
Says It Will Repeat History.
“If this bill is passed our banking
system is again projected into poli
tics. If one would know what this
means to the business and prosperity
of the nation, let him road the finan
cial history of the United States from
1830 to 1840."
“While it is so constructed as to
appear on its face less radical in its
grant of centralized power than the
Aldrich hill, it is. in fact, much more
radical in its grants of such power.
Such of the advantages of the Al
drich bill—as, for instance, the pro
visions for elasticity in our currency
and for the mobilization of hank re
serve.?—which it seeks to retain, it
offsets by other provisions which will
entail greater evils than the ones
from which we now suffer.
Must Furnish Capital.
“This hill proposes to compel the I
national banks to furnish the capital j
for a number of Fed ral reserve banks j
under the ultimate control of gov
ernment appointees, which reserve
banks, under the provisions of ♦h''
law, become competitors of the na
tional hanks and State banks.
“Besides their capital, it compels j
the national banks to turn over to
these competitors several hundred
millions of reserve deposit—in other
words, to contribute to them both
capital and business. As the Federal
reserve banks pay no Interest on
these forced reserve deposits, they
will be no mean competitors in th°ir
use in open market operations.
No Limit to Loss.
“No limit Is put to the extent of
loss which the national banks may
suffer on their Investment in Federal
reserve bank stock, but they are lim
ited to a 5 per cent return as possible
profits.
“The Government which has re
ceived par for its 2 per cent bonds,
deposited by the national hanks to
secure their circulation, if this law
is passed threatens with loss any
national hank which has outstanding
circulation and desires to retire from
the system.
The real reason why no adequate
protection against the fall in pric^
of the 2s. due to the withdrawal of
the currency privilege, is given I
outstanding holders of them seems to j
he to make it expensive for national j
banks having a large circulation to j
join the exodus from the national
system which will occur if this bill I
passes into law In its present form.
It is not apparently a matter of over - '
sicht or carelessness that the interests j
of outside holders of 2 per cent bonds i
are thus disregarded.
WASHINGTON. Aug. 9—Earliest
ginning operations are about one
month distant in the cotton season
of 1913-14. Although no official re
ports will be made public before the
early part of the new crop year, the
trade is always interested In know
ing how freely the new yield moves
in the closing weeks of the old sea
son as well as in the early stages of
the new year. The census bureau in
its earliest announcement will show
the amount of cotton ginned up to
the end of August, and will make pub
lic its first report on September 8 at
10 a. m., it is expected. That will
be the first of ten separate reports,
extending from that date to March
20 in the following year. These ten
reports cover a period of six months
or more. There will be two ginning
reports in October, two in November
and two in December and January.
Dates of Reports.
Below are the official dates for the
season:
OCCASIONAL
OBSERVATIONS
Young Morgan is said to be “grow
ing” wonderfully.
James J. Hill
red lights.
has stopped swinging
Report Date to
No. which re-
1913-14. port relates
1 Aug. 31
2 Sept. 24
3 Oct. 17
4 Oct. 31
5 Nov. 13
6 Nov. 30
7 Dec. 12
8 Dec. 31
9 Jan. 15
10 Feb. 28
Date of Pub
lication
(10 a.
Sept.
Oct.
Oct.
Nov.
Nov.
Dec.
Dec.
Jan.
Jan.
Mar. 20
m.)
8
25
8
21
8
20
9
3
A taxidermist is now' taking care of
the trophies recently shot in Af
rica by A. Barton Hepburn, chair
man of the Chase National Bank
and chairman of the Currency
Committee of the American Bank
ers’ Association. Among the ani
mals brought down by the banker
are gazelles, elands, wildbeast,
lions, heart hearts, rhinoceros, al
ligator and many specimens of
horned animals. One of the two
lion skins measures 9 feet 8
inches.
• • *
Howard Elliott, in addition to run
ning a railroad, Is a tennis crack.
• • •
Very amusing was the news that a
Vulcan Detinning Company di
rector who owned outright two
shares of stock had solemnly
pledged himself to his co-direc
tors thus:
“I will not sell a single share
of my holdings so long as I re
main a member of this directo
rate.”
* • •
A member of the party of President
Brown, of the National Railways
of Mexico, thinks the one thing
lacking in the present tangle in
the land across the Texas bor
der is “personalisme.” In Span
ish the word means everything
that is included in Anglo-Saxon
individuality, personality and in
itiative. It is suggested that a
citizen of staid Sagamore Hill
w'ould consider himself just the
man for the jab.
• * *
“Honest graft” is universal. Juicy,
stalks of Michigan celery bring
good prices, but the traffic man
ager of a big express company on
a trip from New Orleans saw his
own unskilled employees eating
bread and coffee—and celery.
Reports of Consumption.
These reports will show conditions
at the close of business on the dates
to which they pertain. Besides the
reports mentioned above there will
be for the second season, monthly re
ports of cotton consumed, imported,
exported, and on hand, and of acting
consuming cotton spindles. Each of
these will relate to a calendar month
and w'ill be published about the 14th
of the succeeding month. The date
for these reports are gathered in the
cotton growing States by the local
agents of the bureau, who collect the
ginning reports. In all other States
the data are secured by correspond
ents and by special agents detailed
from the bureau to canvass the im
portant mill centers. Ginning and
consumption reports combined make
a total of 22 during the crop year.
Disbursements For
August to Reach
Nearly $11,000,000
Payments of Dividends and Interest
Show Gain Over Six Months
and Year Ago.
Twelve New Banks
Chartered in July
Government’s Report Shows Total
Capital of the Dozen $450,000;
7,498 in Existence.
During July thirteen applications to
organize national banks w'ere approved
and twelve were authorized to begin
business.
The twelve banks which were given
permission to begin business have a to
tal capitalization of $450,000. of which Railway Uompany 4 per cent bonds .is
BOSTON, Aug. 9.—Estimates of
dividend and interest disbursements
in August, payable in Boston, are
placed at $10,681,336. compared vrith
$10,439,700 six months ago aud $8,450,-
900 in August, 1912.
Included In the above figures is the
entire amount of dividends payable
by the copper companies listed on the
Boston Stock Exchange, which in sev
eral instances are not paid in Boston,
although large por tion is distributed
to Boston stockholders.
The copper companies paying div
idends next month and amounts, with
present rate, compared with August
in previous year follow:
1913. 1912. Amount.
Amalgamated. .$1.50 $1.00 $2,999,319
Mohaw'k. . . . 2.00 2.50 200,000
Grief Consol . . .10 .... 87,133
St.Mary’s Min.L. 1.00 1.00 160,000
Miami 50 .50 373,379
Total 03,119,838
Railway Bond Interest.
The Boston Elevated Railway Com
pany makes the largest bond interest,
payment next month In the local rail
road and street railway group, being
called upon to pay $240,040 semi-an
nual interest on West End Street
WITH PUBLIC
Success of $100 Denomination
Issues Leads Big Corporations
to Consider Same Policy.
NEW YORK. Aig. 9.—Of great in
terest recently has been the call for
“baby” bonds, that L?, the bond!
which are Issued In $100 units. The
success of the email bond has causd
many of the larger corporations to
consider seriously tne issuing of all-
future bonds in $i00 units and the
extension of the cutting-up privilege
to bonds already outstanding.
The American Telephone and Tele
graph Company Is preparing a thor
ough analysis of its experience with
the baby bonds. Only with the re
cent issue of bonds did the company
enter the $100 bonds class and but
one delivery has been completed. The
other will be completed in Septem
ber and the analysis will appear
soon after. It was said by one of the
higher officials yesterday that the :
$100 bond unit has come to stay and
that the number of applications for
the small unit have been very many,
greatly exceeding expectations.
Definite data is lacking, but the
work of compiling statistics on the
first distribution is under way. Very
few requests for conversion of $100
unit bond? into $1,000 bonds have
been made, purchasers of several
thousands of dollars In small-denom
ination bonds preferring to keep them
In the “baby” class, recognizing that
thereby a oroader market is avail
able.
The Solvay Process, By-Products
Coke. Virginian Railway American
Public Service, and City of New Or
leans $100 bonds, all 5 per cent bonds
with the exception of the By-Prod
ucts issue, which bears 6 per cent,
are among those for which there have
been definite inquiries in the past few
days.
Elliott Seems To Be
Nemesis of Mellen
Acquaintances Recall How New Head
of New Haven Has Dogged
Predecessor's Footsteps.
eight, with a total capital of $200,000
had individual capital of less than $50,-
000, and four, with a total capital of
$250,000, had individual capital of $50,-
000 or over.
At the end of July there were 10.427
banks organized, of which 2,929 had dis
continued business, leaving in existence
7 4!*8 banks, with authorized capital of
$1,065,922,175 and circulation outstand
ing. secured by bonds, of $738,502,408.
The total amount of national hank clr
provided for under the lease; in ad
dition. the Boston Elevated pays
$716,382 as a 3 per cent semi-annual
dividend on its stock, making total
payments by the road next month, for
Interest and dividend, of $954,422.
The city of Boston has no interest
falling duo in August, there being
four months in the year when the city
pays no interest, namely, August,
culation outstanding was $759,293,191. of September, February and March. The
w’hich $20,790,738 was covered by law- | State of Massachusetts is called upon
fill money of a like amount deposited
with the Treasurer of the Unite<i States
on account of liquidating and insolvent
national banks and associations which
had reduced their circulation.
No Money to Move
Big Canadian Crops
Funds Harder to Get Than Ever Be
fore—Government Urged to
Furnish $10,000,000.
Sav TJ. S, Loans May
Tighten Money sn.";
U u than eve
U. S. Makes Big Gain
In Trade to South
Exports $10,000,000 More Than Pre
vious Year—Imports Remain
Almost the Same.
WASHINGTON, Aug. 9.—Whil“
trade between the United States and
five of the principal South American
countries, Argentina. Brazil, Chile.
Peru and Uruguay, still is in favor of
the southern republics, this country
made a considerable gain during the
past fiscal year. It reduced by $10,-
000,000 the wide margin of difference
between its imports from and ex
ports to those countries.
Imports valued at $187,000,000 are
the ?ame as in 1912. In exports the
United States gained, shipping $126.-
000,000 of merchandise this year
against $116,000,000 last year. In
creases were made In shipments to
all countries named, except Argen
tina.
In the past year Argentina bought
$53,000,000 and sold $27,000,000; Bra
zil. $43,000,000 bought. $120,000,000
sold; Chile. $16,000,000 bought. $28,-
000.000 sold; Peru. $7,000,004 bought:
$10,000,000 sold: Uruguay, $2,000,000
bought, $7,000,000 sold.
Auto Exports Grow
Forty-fold in Decade
Canada Alone Takes Cars. Parts and
Accessories Valued at $9,200,-
000 in Year.
WASHINGTON, Aug. 9.- Automobiles
and automobile parts to the value of
$40,000,000 were shipped from the
United States in the past fiscal year,
as against $1,000,000 in 1903, a decade
ago, according to figures by the Bureau
of Foreign and Domestic Commerce.
Of last year’s shipments. $28,500,000
were in finished automobiles.
Canada was the largest buyer, with
7.200 cars, worth $9,200,000. while Eng
land bought 4,000. valued at $3,000,000.
Less than $2,000,000 worth of automo
biles were imported, at an average price
of $2,300, while in 1907 more than $4,000,-
000 worth were brought in at an aver
age price of $3,400.
COAL TRADE PROSPERITY.
BIRMINGHAM. Aug. 9.—The semi
annual report made up of official and
semi-official figures indicates that the
coal production in Alabama in 1913 will
go between 18.000.0(H) and 20.000,000 tons
tons, the largest in the history of thf
industry in this State. Several of the
iarge-r coai mining companies in Ala
bama have orders f" hand which will
warrant the nperat * n of coal mines
inrough the balance of the year.
CALGARY, ALB., Aug. 9.—West-
I ern Canada now faces a peculiar
| financial situation. With the biggest
in history, ready for harvest-
two weeks, money is tighter
than ever known here.
1 Newspapers are urging the Domin-
Bankers Declare Funds Will Come | ion Government to load $10,000,000 in
Alberta either to farmers or by tak
ing up provincial or city bond issues.
Crop Movement. | Banks claim they have no funds to
loan.
to New York, and Not Aid
Within ten days two daily papers
in Alberta, have temporarily sus
pended publication, expecting to re
sume in the fall. English banks are
coming to the aid of farmers in mar
keting crops.
NEW YORK. Aug. 9.—Bank offi
cers in the financial district took ex
ception to the statement by Senator
Tillman that they had ruined the
Southern farmer, and in answer to
this said loans to the South this
spring had been about 50 per cent
greater than in the corresponding pe
riod last year.
One said Government aid might
seriously tighten money, as out-of-
tow'n hankers w'ho get. the money at 2
per cent would immediately pay off
New York loans carrying 5 to 51-2 | New York Concerns Get State Su
per cent, so that the money would find ! preme Court Writ of
its way to New York and not meet K Mandamus,
any commercial or agricultural needs, j
Atchison, Kansas,
Must Pay Its Bonds
Another bank head said: “Banks
of New York City have loaned more
money this year to the South by a
good sight than last year. This bank,
for instance, loaned 50 per cent more
to the South than last year.
“To-day we loaned $5,000,000 more
to our hanking correspondents in the
South than on the same day last year.”
J. S. Alexander, vice president of
the National Bank of Commerce, said:
“No borrower from the South, West.
North qr locally has requested loans
from .the National Bank of Commerce
without receiving the fullest consid
eration and treatment satisfactory to
himself.”
TOPEKA, Aug. 9.—The Kansas Su-
f ireme Court has Issued an order grant-
ng an alternate writ of mandamus
against the city of Atchison to make
the city pay off the $266,000 of bonds
which fell due July 1, and for which
no provision had been made to pay.
The court was asked to grant the
writ by E. D. Levison & Co. and the
Columbia Knickerbocker Trust Compa
ny, of New York, holders of $70,000
worth of the bonds. A restraining or
der against the city making any tax
levy unless It includes a levy for the
payment of the bonds was also issued.
Under the order of court, Atchison
must either pay the bonds in November
or refund them at the current rates in
stead of 4 per cent.
to pay $150,500 in interest next month.
Light Corporation Dividends.
The Boston lighting companies
make large dividend payments this
month—a total of $858,500, or 19 per
cent larger than last year—as follows:
1913. 1912.
Edison Company . .$546,000 $468,11 1
Mass Gas Cos. . . . 312,500 250,000
Totals $858,500 $718.11!
The classification of estimated pay
ments to be made next month fol
lows:
Interest on railroad bonds. .
Interest on miscellaneous
bonds t • *
Interest on U. S.. State and
municipal bonds
Dividends on railroad and
street railway stocks.. ..
Dividends on manufactur
ing stocks
Dividends on copper stocks
Dividends on gas and elec
tric stocks
Dividends on miscellaneous
stocks •• 1.450.000
$850,900
1.289.500
450,000
1.477.500
800,000
3,119,836
1,180,600
Total
. .$10,618,236
NEW YORK, Aug. 9—Asquaint-
ancos of the president and president
elect of the New York, New Haven
and Hartford are smiling at Mr. Mel-
len’s request that he he excused “from
answering any questions affecting his
own personal movements after Sep
tember.”
To one who does not Inquire close
ly Into the situation it might appear
from the accounts of the two men’s
careers that Mr. Elliott had been Mr.
Mellen’s Nemesis. The latter got out
of the Northern Pacific presidency
after friction between himself and
J. J. Hill, and was succeeded by Mr.
Elliott. Now he has stepped out of
the New’ England transportation sit
uation to be succeeded again by M-V
Elliott.
What hl.« future plans are he in
tends to keep to himself, lest a big
shouldered, fresh complexioned gen
tleman from the Northwest antici
pate them. If E. N. Brown's resig
nation from the National Railways of
Mexico should be accepted Mr. Mel
len might become accustomed to
working in a peaceful community
gradually by spending a few months
in the revolutionary zone.
After the experience of recent
months in the hands of L. D. Bran-
deis, the stockholders’ committee, va
rious public service commissions, the
Interstate Commerce Board, the
Stamford Coroner, the grand jury and
others retirement to peaceful Stock-
bridge might prove too great a change
to be entered into at once.
Can’t Bcat“GETS-ir
lor Corns—It’s Sure
* Never Tried It Before? You'll Marvel
| How It Makes Corns Vanish.
*
> There never was anything Mice
| “GETS-IT” for corns, and there isn't
anything like it now It Is the corn
Uses Parcel Post
To Collect Debts
Keen Kansas Merchant Sends C. O.
D. Packages and Gets Money
on Stale Accounts.
A Kansas merchant has found a
new use for the parcel post. When
the C. O. D. feature went into effect,
on July 1, he hit upon an idea to
collect a number of small accounts
which he had been carrying for some
time, and which had caused consid
erable loss during a period of several
years.
A number of small boxes were ob
tained and filled with waste paper,
and on the top w as placed a receipted
bill for the proper amount. A five-
cent stamp was required for each box,
and the C. O. D. fee was 10 cents for
each package. The next day the re
turns began to come in, and nearly
every case the debtor paid the
amount, supposing that the package
contained something of value, but, of
course, not being permitted to con
firm this suspicion before opening it.
> “Oh My, Oh My. What a Rallaf!
j ‘GETS- IT’ Stops Corn PaJna Right
( Off and Got* Corns Every Time.”
! ctire on a new principle. Put H on
any corn in two seconds: it stop*
pain, the corn begine to shrivel and
> disappears It never fails Simplest
| thing you ever saw No fussy band-
) ages, no greasy salves to turn heaithy
> fk-eh “peely" and raw, no plasters
'that make corns bulge out. Your
! corns won’t pull and hart ’way up to
» your heart Lay aside your knife and
l razor No mo*'* digging and tugging
j and wincing, no more bleeding, no
» more danger of blood poison “GET8-
j IT’ never hurts healthy fieeh; It is
. sate, painless, quick, simple, mi re.
> For warts, callouses and bun Iona, too.
“GETS-IT is sold at all druggists
J at 26c a bottle, or sent on receipt of
) price by E. LawTence A Go. .Chicago.
> Sold in Atlanta by Jacobs’ Pharmacy
| Company. Fikin Drug Company,
j Coursev & Munn, Gunter-Watkins
> Drug Company, E. H. Gone. Inc., Tip-
\ ton & Co.