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the weather Fair and much cooler tonight, Tuesday fair and cooler. VOLUME XIX, No. 319. New Era Begins in Nation’s Finance Secretary of U. S. Treasury Today Signs Order That the Twelve Federal Reserve Banks Are Open. Final Step in Currency System. INSTITUTIONS TO SERVE BUSINESS REQUIREMENTS OF THE WHOLE REPUBLIC 7,571 Member Banks Have Authorized Capital of $106,- 795,600. Believed End Put to Annual Anxiety in Credit For Crops. New Paper Notes to Soon Replace Familiar National Bank Issues. I Washington, D. C—Secretary Me- Adoo early today signed the formal or der announcing that the twelve federal reserve banks were established and ready for business. It was the final step required to set in motion the na tion's new currency system and found the regional banks ready for operatioa The Purposes. •-* The regional banks which will serve as centers to provide for the commer cial requirements of the country have been established in New York, Boston, Philadelphia, Cleveland, Chicago, Min neapolis, St. Louis, Kansas City. At lanta Richmond Dallas and San Fran cisco. Their operations for the next few months will consist largely of the rediscounting of notes, drafts and bills of exchange. Later their field will be extended to permit them to exercise remaining functions defined by the currncy law. 7,571 Members. # In the new system are 7,571 mem ber banks with an authorized capital placed at $106,795,600. One-sixth of that amount has been called in and placed in their vaults. Cash reserves in the 12 regional banks is estimated at nearly $250,000,000 drawn under the Currency law from present reserve agents of the member banks. Members of the federal reserve board felt today they had established the system just w'h’en conditions pre sented excellent opportunity to test is value. Ability of the reserve banks of rediscount commercial paper has been looked-to as a means of providing fi nancial machinery for the movement of crops and meeting general business needs. New Era. Asserting that the opening of the banks marked a new era in the history of business and finance in the United States Secretary McAdoo added: “It is believed they will put an end to the annual anxiety from which the country has suffered for the past gen eration about insufficient money and credit to move the crops each year and will give such stability to the banking business that the extreme fluctuations in interest rate and available credits which have charac terized banking in the past will be de stroyed permanently.” Elasticity for Currency. The chief attraction and value of the new system, according to its inter preters, are to be found in the elasti city it will give to recognized paper currency. The federal reserve notes which probably will replace the famil iar national bank notes will be issued on commercial paper arising out of actual business transactions. It is designed that they will rise and fall in amount according to the flow in the tide of business. They will be gov ernment obligations, having back of them a large gold reserve in the regio nal-banks Reserve banka through them are expected to aid member banks having good paper but needing cash Atlanta Has $4,600,000. Atlanta, Ga.— The federal reserve bank for the sixth (Atlanta) district was opened here today with deposits of $4.4600.000. This sum represents the first installment paid in by 3SI member banks. The sixth district in cludes the staes of Georgia, Florida and Alabama and parts of Louisiana, Mis sissippi and Tennessee. Jos. A. Mc- Cord of Atlanta, is governor. The federal reserve board has In structed the regional bank here to make a six per cent charge on paper of 30 days or less and 6 1-2 per cent on paper o flonger maturity. khedive leaves TURKISH CAPITAL Berlin, (via wireless to London, 12:55 p. m.) —According to reports reaching here from Constantinople, the khedive of Egypt will leave the Turkish capital shortly to assume command of the Turkish operations against Egypt. He will be accompan ied by a suite of fifty persons. $5,000,000 A DAY. London, 4:12 p. m.—Premier As quith stated in the house of com mons this afternoon that the war Already was costing Orest Britain from *4,500,000 to $5,000,000 daily. Think How You’d Feel If They Ran You Out of Town. Your Dollar Has Feelings, Too. Live at Home THE AUGUSTA HERALD THE ONE PAPER IN MOST HOMES——THE ONLY PAPER IN MANY HOMES. OFFENSIVE TAKEN BY FRENCH Paris, 3:15 p. m.—The French of ficial announcement given out by the war department this afternoon says: “The Germans who endeavored to cross the Yser Canal between Dix mude and Bixchoote -were driven back and a German regiment was destroyed south of Bixchoote. Two German at tacks near Y’pser were repulsed and the French have taken the offensive and driven the enemy from positions taken by them reveral days ago. "On the remainder of the line there have been artillery exchanges and en gagements of relatively minor impor tance.” TURK'S SULTAN EXHORTS TROOPS Issues Proclamation to Army and Navy. England, France, Russia Blamed for War. Constantinople, (via London, 12:25 p. m.) —The Sultan of Turkey has Issued a proclamation to the army and navy in which he accuses Great. Britain, France and Russia of having instigated war upon Turkey. He adds in this connection that the outcome wtll put an end to the attempts directed against the glory of the Turkish empire. Exhorting his soldiers and sailors to bra,very, the Sultan says: “Not only the fate of our otvft coun try, but the future existence ol ,800,- boO.OOO Moslems depend on your vic tory.” CLEAR ENCLAND, GERMAN SPIES Members of Parliament Insist on Appointment of Committee on Public Safety. London, 4:20 a. m. —Several inter views with members of parliament demanding the appointment of a com mittee of public safety “to take nec essary measures to prevent any fur ther mischief from German spies." are published here today. William Joyn son-Hicks, member for Brent-Ford, said: “The present authorities are com placent, almost frivolous in dealing with the question. That the whole coast should be cleared of all for eigners is undoubted. There probably are many spies among the Belgian re fugees and even in the recruits for the new army.” The Daily Express says: “The spy at the present is able to he serviceable because it is nobody’s business to deal with him. Three gov ernment departments are concerned— the war office, the home office and the admiralty—and the result in inaction, hesitation and all manner of mischief. Thepe should be a committee of safety directly responsible to parliament and the people." BRITISH AIRMAN'S BOMB KILLS IS London, 3:53 p. m.—The Central News publishes a dispatch from Am sterdam saying that a German news paper appearing in Brussels declares that a British aviator has dropped a bomb on the town of Courtrai, in Bel gium, on the River Lys, 26 mites southwest of Ghent. The explosion of the bomb killed fifteen of the local population. mmm TO QUIT AWHILE Washington,—Hostilities between the warring factions in Mexico have ceased pending the outcome of fur ther peace parleys, according- to a dis patch from American Consul Billlman in Mexico City. AUGUSTA, GEORGIA, MONDAY AFTERNOON, NOVEMBER 16, 1914. Hard Fighting Belgian Soldiers in March Along Ypres River ~ V . ivN V- v , IN THE MUD King Albert’s fighting men with their transports moving to a new position along the Ypres River. These men have been fighting in the trenches filled with mud and water for four days. The photograph illustrates the mud-bespattered condition of the troopers. LIVE AT HOME, BUY AT HOME, MADE AT HOME WEEK BEGINS BRIGHT AND FAIR, WITH SPLENDID PROMISE. ALL AUGUSTA READY TO COOPERATE IN MOVEMENT Industrial Exhibits of Augusta- Made Products on Display in Many Show Windows Along Broad Street Ready For In spection. MARKET HEADQUARTERS BUSIEST PLACE IN TOWN By Tomorrow the Movement Will be in Full Swing/ First Day Necessarily Given Over to Final Preparations for Augusta's Most Important Week—Crowds Coming Out to Make Round of Exhibits and Catch the Contagious Spirit. Bright and fair, after the dreary, gloomy weather of the past few days, the sun shone forth this morning in all his glory, a good omen —for today, for a week, Augusta begins lilvng at home to acquire the habit of living at home all the time that will make Augusta self-dependent, a better and a liver and a more progressive city. Already many of the Industrial dis plays were placed In the show win dows along Broad street when this morning the first man to get to hts work came downtown to business; hut all the morning has been consumed in the placing of exhibits and the deco rating of show windows to complete the exposition of Augusta-made goods, which, by late this afternoon, will he In readiness for the Inspection of the Augusta public and visitors to the city. Busiest Place in Town. The busiest, place In town this morn ing was the show room at N 0.629 Broad street, headquarters of The Herald's City Market. This large store-room Is being filled with exhibits of Augusta-made goods and articles—some of the heavier things that are made In Augusta mills and shops and factories as well as other goods. Here, too, is received such country produce as the farmers of the Augusta territory desire to send In to be sold to the housekeepers of Augusta. The first consignment to arrive this morning was a coop of frying-size chickens The U|ty Market headquarters will he open all day every day in the week The public Is invited to visit this place, to view the exhibits made there, to ask questions and to make themselves at hame. , , Get Acquainted With Your Town. The one important thing to do first Is to get acquainted with your home town—to ascertain by making a sys fContlnued on Page Seven). ENCYCLICAL OF PUCE Bf POPE Rome, 11:40 a. m,—The pope today caused to be published his announced encyclical urging peace among the warring nations of Europe. In this document the pontiff at tributes the war to four causes, name ly: Lack of mutual and sincere love among men; contempt of authority; injustice on the part of one class of the people against another, and the consideration of material welfare as the sole object of human activity. COTTON TRADING ON, GONG SOUNDS New Orleans and New York Exchanges Resume Business After Three and Half Months Close. Business a Little Compli cated at First Owing to New and Old Style Contracts. New York. —The New York Cotton Exchange re-opened for unrestricted trading at in o’clock this morning. It had been closed since July 31 when the market went Into convulsions and three firms failed through the demor alization created by Impending war in Europe. The floor of the exchange was thronged with brokers when the gong sounded today. During the first few minutes trading nas exceedingly brisk and somewhat nervous. There was a little confusion because of unfamiliar - ity with the new style contracts and the new rules imposed on the market by the operation of the so-called cotton futures law. The Opening. Early trading was confined almost entirely to December cotton, sold on old style contract. The market open ed at 7.45 centg and dropped quickly to 7.40. A low level of 7.39 was reached In the first half hour The market then grew steady and the nervous tone departed. At the end of the first hour trading appeared to be normal and the number of brokers on the floor had dwindled to the usual size. Prices were approximately three cents below what they were when the exchange closd on July 31st. January sold at 7.75 to 7.85; March at 785 to 7.88; May at 8.10a8.12, and October at 8.40 to 8.50, all on new style contracts. Interested Spectators. Wall street brokers Inactive because of the darkened Htork exchange were IIS AND WIFE IRE RELEASED FROM CUSTODY Instructed Verdicts of Not Guilty on Murder Charges Ordered Returned By the Jury San Antonio, Tex.—lnstructed ver dicts of not guilty today were return ed by the Jury In the cases of Victor E. Innes and his wife, of Eugene, Oregon, charged with murder and conspiracy to murder In connection with the disappearance of Mrs. Elois Nelms and Miss Beatrice Nelms of Atlanta, Oa., and were released from custody. GERMANSCUTOFF BY DIXMUDE FLOOD London, 1:20 a. m.—ln consequence the heavy week end rams, says tha Rotterdam correspondent of the Ktar, it is rumored that a big force of Ger mans around Dixmude has been cul off by floods. Interested spectators at the opening, A sprinkling of other spectators, friends and families of cotton brokers were In the galleries. A general laugh greeted the reading of a letter of congratulations from members of the Liverpool Cotton As sociation. The letter was read from the rostrum shortly after the opening gong sounded. Gaily Decorated. New Orleans With the exchange gaily decorated with palms and flow ers and women crowding the visitors’ gallery, the cotton market opened to normal trading conditions at 9.05 this morning after a suspension of almost three months apd a half The first trade between New Or leans and Liverpool went through to completion, passing censors hands and all In 17 minutes. First trades in local options did not show much change from last week's liquidation trading, January’s first transatton being at 7.50. A Little Complicated. The market was somewhat com pdleated because trading was carried on In two styles of contracts, one be ing the form used up to the time of the suspension last July and the other framed to meet the federal cotton fu tures act Old style March brought 7.61 and the new style 7,86 on the first, call, showing that the trade was will ing to pay a preiniu mos a quarter of a cent a pound for the new style. 3 WARSHIPS OF ENGLAND ARE DISABLED Berlin Reports the Destroyer Falcon, Cruiser Brilliant and Rinaldo Hurt by Germans Off Belgian Coast. Berlin, via wireless. According to Information given officially to the press today reports re.i''hlng Berlin from Geneva set forth that the Brit ish torpedo boat destroyer Falcon, the cruiser Brilliant uno the sloop of war Rinaldo have been disabled by German guns on the Belgian coast. FRICK MOVES INTO HIS NEW $2,000,000 HOME; SITE COST $2,400,000; WILL HOUSE $10,000,000 ART COLLECTION New York.—Henry Clay Frick began to move today Into his new $2,000,000 residence In Fifth Avenue, between 70 and 71st Streets. Con struction of the house was begun two years ago. It occupies the new sit* of the old Lenox Library for which Mr. Frick paid $2,400,000 In 1906. An art gallery, which will embrace 3,500 square feet. Is the distinctive feature of the house. It will contain the pictures said to have cost Mr. Frick more than $10,000,000. $6.00 PER YEAR—FIVE CENTS PER COPY,, SNOW ANKLE DEEP IN THE TRENCHES Adverse Weather Conditions in Flanders Make More Fre quent Shifts Necessary. Little Change in Positions of the Armies of Invaders and the Allies. Germans Putting Fin ishing Touches on Defenses in Case of Withdrawal. JAPS RUSHING BATTLESHIPS IN SEARCH ENEMY The Powerful Hizen and Asa ma Thought Off Coast of Chile to Engage the German Squadron. Honolulu, T. H. That Japan la ruahlng naval forces toward the I const of Chile to join other vessels of the allies In a search for the German vessels that brought defeat to Hear Admiral Hir Christopher Cradock’s British squadron was Indicated by a report brought here last night by the schooner Robert. R. Hind, which ar rived from Port Townsend. Wash The schooner’s captain said he sighted the Japanese battleship Hizen and armor ed cruiser Asama on Thursday, f>oo miles southeast of this port and head ed In a southerly direction. Unknown Destination. The HI sen and Asama. appeared off Honolulu harbor soon after the Ger man gunboat Geier put in here fbr repairs. As soon as the captain of the deter decided to Interne here the two Japanese warships put In for supplies and sailed for an unnamed destination November ylth. Both are powerful fighting craft. The Hlsen has a tonnage of 12,700 and the Asama. is of 0,750 tons. Ihe German squadron is supposed to he near Valparaiso, which port the cruisers Lelpsig and Dresden left Saturday after taking on cnol. AMERICAN WINS. Sydney. Australis, (via London.)— Johnny Griffiths, the American pugil ist. knocked out Hughie Mehegsn, the former lightweight champion of Aus tralia. in the eighth round of their fight here today. RUSSIANS LEVIES Great German Forces Being Concentrated to Keep Invad ers Out of Posen and Silesia. Word of Caution to Allies in West Regarding Advance on Berlin. London, 10:25 a. m.— ln the eastern arena of the war the Germans are making and executing similar plans In the face of the Russian advance, It Is said that great German forces are being concentrated at Thorn, Posen and Breslau with the Idea of keeping the Russians out of Important districts In the provinces of Posen and Rllesla On to Berlin. A word of caution to the Allies comes to the Allies from Petrograd. This ts that they must not expect the Russians to sweep on to Berlin overnight as It were as this advance may take months'and even longer The German occupy the defenses they have been preparing for years and In addition to this they may he able to spare even wore men for the operations on their eastern front. On Cracow. Russian armies seem to *'* lv converging on Gracow and the siege or Investment of this place appeare to be no. far off It te suggested ha the Austrian garrison of < racow mlgh surrender to avoid a bombardment hpt this ran be called nothing more than a suggestion. Imposing Lsvlts. The Russian forward movement In East Prussia seems to continue and I Is aald the Russian generals are Im posing on the captured towns fines In proportion to those levied by the ' er mans or. cities of Belgium. These fines correspond with the population of the town taken. ' HOME EDITION Paris, 2:51 p. m.—The French official announcement given out In Paris this afternoon says that yesterday along the Yser canal be tween Nieuport and Dixmude the fighting was limited to artillery exchanges. "The country having been fur ther inundated, the submerged ter ritory now stretches to the south of Dixmude to a point five kilo metres (three miles) north of Blxschoote. Weather Very Bad. London, 10:20 a. m.—The armies of the allies and of Germany remain deadlocked In West Flanders today along the battle line where snow now Is ankle deep with the prospect of further Intermittent artillery duels and Infantry clashes, which for more than a month have been swinging back and forth without definite result. Frequent Charges. The snow and the generally adverse weather conditions In Flanders will make necessary more frequent shifts of men in the trenches and there will he more sickness, especially lung and throat, affections. In short, trench warfare already laborious and ex hausting. will dally become a greater ordeal. Release Grip, Left Bank. The tier mans have not abandoned their attempt to reach the French coast towns and yet they have not advanced. Today, according to the claims of the nllies the Germans are hack on the right bank of the Yser. having been forced to release their grip on points on the left hank held, so stubbornly by them last week. This retirement of the breadth, of the river Is described In the official communt-- cation given out in Paris last night as the "most noteworthy incident of the day,” and it shows how iittte change there has been either in Belgium or France. Finishing Touches. in the meantime the Germans are putting the final touches to the de fenses stretching in row aft-r row from Ostend to the Dutch border and should their present line* be broken they probably will endeavor to winter In these positions. EXACT ON CITIES RUSS COMMANDER WINS; BARS LIQUOR London, 4.35 a. me—A dispatch front Petrograd to the Tlmaa says: “Grand Duke Nicholas, ths Russian commander In chief has overridden the decision of the council of minis ters favoring the sale of beer and light wlt.es and has now ordered that wherever martial law prevails tho sale of alcoholic dnnka of any kind Ohall be forbidden. “This decision was taken because drinking among officers q.iartepsd at • remote places had not ceased.” THERE ARE 33 Shopping Days Before Xmas Read Herald ads and call for advertised goods if you want the pick of styles and bargains. When shopping in Augusta tomorrow Bay: “I Saw It In Tha Herald." It will psy. Try It.