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i v. 'V, < . TOWEETliiEiiE ISSUED SEMI-WEEKLT. t x. grists sons, pubuthen. } % (JfamUg $fujspajnr: <Jfor th* promotion of thf political, Social, ^jgrtynltniial and <Bommei(rial Jnter^sts of th* feojlf {TKISJoiSSA.1Ym J?^!?ANCB established 1855. YORKVILLE, S. C., FRIDAY, APRIL 30, 1909. NO. 35. HAH AHA HAH AHA HAH AHA HA? 1 Heron | ? 2 By ETTA 1 ! A 1U ?M Mi M? Mi UK CHAPTER XIX. The Author Speaks. Sir Griffln Hopewood was madly In enalAVpd in the love?yea, uuiniop., meshes of the grand passion! ! From the perils of a half dozen London seasons, from the machinations of a score of English dowagers, the blonde baronet had triumphantly escaped, only to fall an easy victim to a little American girl Just out of school, with no fortune but her face, and a family record so terrible that even an infatuated lover must shudder to think of it. And yet, Sir Griffin was stubbornly bent upon making Hazel Ferrers the next Lady Hopewood. Pride of birth and class prejudice bred in the bone, failed now to move him. He was very ) far gone Indeed, and love in this practical nineteenth century Is the same passion that it was in the days of Cleopatra and that amorous Roman who flung a world away for Its sweet sake. It was a black, starless night, with thunder muttering in the sultry sky. The Wolfsden clocks were chiming twelve, as Sir Griffln, very red in the face, arose from a table in Colonel Rivera's library, where the two men had been playing at ' rds. .To tell the truth, the baronet did possums n sad weakness for gaming, and in his American friend he had found a kindred spirit, whose skill in games of chance unfortunately surpassed his own. "As usual, Rivers," he said, "you win, and I lose." "Better luck next time," smiled the amiable colonel. "Take courage, dear boy!" Only a man madly Infatuated, and with an income of fifty thousand pounds per year, could have borne with equanimity the losses that Sir Griffin had sustained at Wolfsden; for though Pitt Rivera might assure his ward that he always returned his winnings to the baronet's purse. Sir Grlffln himself could have told another story. "By my soul, colonel," said the baronet, "It Is plan that " 'The good stars met In your horoscope,' as In that of Browning's heroine. Or.e always finds you upon the winning side. Did you ever In your .Hfe meet with anything that could T>e called a reverse?" Rivers gathered up the stakes from the cloth^awd -ftut them In his pocket. he answered, laughingly, Jmnd It was a staggering experience! J* True, I have had wonderful success li> my dealings with men, but with women"?making a wry face?"the devil's own mishaps! Fate, I suppose, must draw the line somewhere." "Why, man, In Paris you were known ?? a rnnfirmed ladv-klller." said the baronet. The colonel shrugged his shoulders. "Yes, dear boy, but In a few individual cases, where I really cared to succeed, defeat has been sure to overwhelm me! As for these little losses of yours, they are, of course, mere bagatelles. You are well equipped against such 'slings and arrows of outrageous fortune,' you know, for your ancestors were thoughtful enough to heap up riches for you ages before your birth. Now"?looking at his watch? "my advice is like Lady Macbeth's, 'To bed?to bed!'" "The heat Indoors is unbearable tonight," said Sir Griffln. "I must go out for a turn In the garden before I sleep." "Then comfort yourself with a choice Manilla," urged the colonel, as he offered his cigar case. "Should you meet ifAii no/1 fool nA olorm any diocivuiius, juu ucvu iwi uv for your pockets, fortunately, are relieved of the filthy lucre which might tempt the rogues to make an onslaught upon you." Sir Griffin helped himself to a weed, and sauntered forth upon the terrace for a breath of cooler air. He stopped to look up at the white-draped window of Hazel Ferrers's chamber, but all was dark and still there; doubtless she was asleep?his beautiful darling! He kissed his hand to the curtained casement, then lighted his cigar, and was about to move on, when he suddenly heard an odd sound close beside him?the stifled moan of some creature in pain. Sir Griffin was rather soft-hearted than otherwise. With an unpleasant start, he looked quickly rouna. The lights were out along that side of the house?deep darkness covered the terrace?he could discern nothing. He listened. The moans were repeated. Plunging a hand Into his pocket, the baronet found a match, and touched it to his lighted cigar. A tiny flame spurted up, and by Its feeble glimmer he discerned a woman crouching at his very feet, her body bent, as If In physical agony, her arms, from which the sleeves hung In shreds, clasped about her knees, her forehead bowed upon them. vpvop hnri sir Griffin seen such arms! They were bloody and torn, as from the strokes of a lash, and seamed with livid ridges from wrist to shoulder. Her neck, partially revealed by L a disordered dress, bore the same red L wounds?marks of brutal blows, lately H administered. H Sir Griffin recoiled In horror and fimazcmiMit at thp slerht "Halloo!" he cried: "what Is this?" The apparition leaped to her feet, as If in dire alarm. By the expiring match he had just time to observe that she HA was tall of stature?that her hair fell HA In loosened braids on her wounded shoulders?that her pale face was BPf? smeared In a ghastly way with the 9j? blood of the arms against which It had rested. Then out went the match, scorching the baronet's fingers with Its last glow. There was a scampering of B swift feet aloong the terrace, and all was still again. Sir Griffin stood and pondered. Who was that poor lacerated creature? Should he call Colonel Rivers, to Investigate the matter? On second AXA XAX AXA XAX AXA XAX AXA a * fi 'SWlFE. s| S iV. PIERCE. * : f ; AXA XAX AXA XAX AXA XAX AXA t thought, he preferred to talk with Martin. He Btepped down from the ter- c race and started off toward the stables, In quest of that faithful watchman. t Ttie garden was very stiii. ad evergreen hedge, as tall as the baronet's s comely head, bordered the path he had j taken. As he traped along by this verdant screen, puffing thoughtfully at 0 his cigar, he was not a little startled to hear his own name softly pronounced. 0 "Sir Griffin Hopewood!" He stopped. j, "Who calls me?" he demanded. The ^ answer came from the other side of the ^ evergreens. j, "A friend. Stop where you are, Sir 1( Griffin, and I will speak a few words u to you In confidence." ? A feminine voice, sweet and refined? ^ no servant's certainly. What hocus- b pocus was at work In Wolfsden tonight? Annoyed, yet curious, Sir Grlf- t fin attempted to part the barrier of green twigs?It resisted him firmly. 8 He tried to look over its top?all was d darkness there. The owner of the v voice uttered a quick protest "Hold, sir! If that Is your game, I g shall run away, and you will be the loser. You walk abroad late, even for t a lover. Have you been gambling again with Colonel Rivers?' c "The deuce!" muttered Sir Griffin. s "Permit me to offer you a bit of ad- ^ vice," continued the unseen party. n "Quit America, at least this portion of it, as soon as possible. You made a t great mistake, sir, when you came to Wolfsden, in answer to Rivera's invlta- a tion. You had played with him in Par- y is?you knew the man, and something t of the marvelous luck that attends him ]j everywhere. Bah! you are, at best, but b a tame hare, Sir Griffin! Go back p now to England, and marry your cous- h in, Lady Penelope, and forget the Yankee who was caught you in her toils g here at Black River!" Sir Griffin's face burned angrily. a "Your voice betrays your sex. For g what purpose, madam, do you hide thus n from sight, and aitaca me in uie dark?" 1( "Ungwrfeful man! You are angry a because I try to serve you! You a Cannot see that I am really your friend. t( Perhaps you think me a Blackbird. a I have good reasons for hiding in the dark?one is, that I may speak my t, mind in covert, but must remain silent 8 In open field. Listen now, and keep e your temper. You are desperately in j( love. You adore Miss Ferrers; but you r will never marry her! Cooler days will come, and calmer Judgment. You think 8 that you have already been shocked 8 enough; but a new and darker revelation awaits you?how you will receive jj it remains to be seen. Sir Griffin, you ^ come of a race as old as the Tudors. v Did you ever hear of an ancestor who could choose for a wife the daughter ^ of a professional thief? Did the Hope- g wood blood ever mix with a stream so tainted? Not even a Circe could have 0 tempted your father, or your father's father, to so disgrace himself. It seems that you crossed the Atlantic only to h bring shame to your family name?to u break the heart of the present Lady j, Hopewood. Wait! Your foolish infatuation will soon be shaken to its very j, foundation?before another month goes ^ by you will be in England again, treading your native heath, a sadder and wiser man." This was more than human patience could endure. What creature at Wolfsden dared to talk to him like this? ^ With a bound he cleared that tall hedge; but the party on the other side was too quick for him. He thrust an arm into the darkness, and clutched at something that slipped softly away, * leaving a portion of Itself In his grasp. ^ Sir Griffin felt that It would be use- '' less to pursue the fugitive, so, with an ^ exclamation of disgust, he resumed his h walk, holding the trophy obtained In n hi? niimerp anross the hedsre. When he ^ reached the lamp which burned before * the stables, he found that his prize was a feminine wrap of dark-blue cloth, * with the dew of the evergreens upon a it. He called to Martin, who was just * coming forth from the stable door. 11 "Halloo! Martin?do you know of K anybody at Wolfsden who wears a gar- n ment like this?" e Martin examined the wrap closely. n "Yes, sir?I've seen It before?I'll take my Bible oath that it is the property 8 of Jael?Miss Pole's maid." "Ah! a servant of the house? Is she a malicious person, Martin, given ' to walking in the shrubbery late at night?" r "Well, sir, she walks in the shrubbery, more's the pity," acknowledged ^ Martin, "and she isn't always particular j about the company sne Keeps men, ^ but I never thought her malicious." Sir Griffin tossed him the blue wrap. t "Give that back t9 her, Martin," he c said, "and tell her that another offense y like the one which she committed tonight will be brought Immediately to j. the ear of her employers." ^ He was more irritated and annoyed r than he cared to show. Had his love ^ affairs and Miss Ferrers's history be- j come the talk of the Wolfsden kltch- c en? He winched at the bare thought, y But, strange to say, the party behind the hedge had not talked like a servant, t What could Miss Pole's waiting-maid know of his ancestry?of his cousin, 1 Lady Penelope?of the horror that his f American mesalliance was likely to ere- t n Mnrip Hall? More than all. what i was the new and darker revelation that r was to be made concerning Hazel Fer- g rers? s "By the way. Martin," said Sir Grlf- t fin, striving to assume a sang-froid 1 which he did not feel, "has any person g ?a woman, for instance?been hurt at 1 Wolfsden tonight? Have you heard f outcries?groans?anywhere about?" "No, sir!" answered the astonished f Martin. t "Don't stare, man," said the baronet, r irritable. "By Jove! I have good rea- s sons for asking! You are watching f done, I see. Any Blackbirds in the , rarden?" "Not to my knowledge, sir. They've ;ept mighty still since the colonel came >ack?gone into retirement, I suspect. There's a strike on at Heron's Mills, md our neighbor is getting the benefit >f their deviltry Just now." "Ah!" "As for Joe Bagley, he hasn't shown ilmself, of late?he's afraid of the :olonel, maybe. Jael, his sweetheart, tas strict orders to Jilt him; but women ire queer cattle. If that girl was in he garden tonight, dropping such togrery as this"?indicating the blue wrap rviit ??? n#o "Docrlovr nraan't far! "All UCl III J II&V A^UQIV/ ?. .way!" "Martin, Is this Jael a tall, dark creaure, with a head like a Medusa?" "Well, sir, I've no acquaintance with lejusta," replied honest Martin, "but ael Is dark enough, tall enough?goodooking, I call her; but that's a matter >f taste." A sudden light broke upon Sir Griffin. "By Jove!" he muttered; "the woman n the terrace!" Doubtless she had met her ruffianover, and he had beaten her?nothing etter was to be expected of a Blackbird. Could the baronet accept this soutlon to the mystery??could he beleve that the moaning, writhing creatire of the terrace was the same lively arty that had Intercepted him, a few noments later, on his walk to the stales?' "Gad!" he muttered, more puzzled hnn ever. "I can't make It out!" "You look a good deal upset, sir," aid the uncomprehending Martin. "Sit lown on this bench. I've a bottle of dne here?I'll pour you a glass." Sir Griffin absently appropriated a eat by the stable wall. He was upset -sorely perplexed. Martin brought he wine, and a tolerably clean tumbler. "Mra Steele sent out this bottle to omfort me In the small hours," he aid; "the colonel's housekeeper has a ;ind heart, sir?she knows the sort of Ight that parches a man's throat" Sir Griffin fllled the glass, and empled It; then made a wry face. "The flavor of Mrs. Steele's wine Is bomlnable!" he answered. "I hope our solitary vigils may be cheered by he stuff Martin." And as a flash of ightning broke over the dark Bhrubery, he added: "There's a tempest Imending?I must face back to the louse." Martin went to replace the bottle in nme nook known only to himself. Vhile doing: this, a noise in the garden rrested his attention. He seized his un from a rack on the wall, and made imbly for the hedge. Nothing moved here?the graveled paths stretched si5nt and empty under the black trees? . white moth flew on dusty wings bout his lantern?the thunder mutered In the sultry sky, but that was JL When, after a long patrol, Martin reurnet! to the stable, he found, to his urpriw, that Sir Griffin had not movd frp.r the bench by the wall. How >ng d i the baronet Intend to embaras> pocr Martin with his company? "It was a false alarm," began the ervant; "nothing is astir anywhere lr." Sir Grlffln did not answer. His head ad fallen on his breast?he was reathing deeply and heavily. Martin entured to touch him. "The hour grows late." he said, "and he rain is beginning to fall, sir?better et under shelter at once." But still the baronet did not move r speak. Martin bent and looked in is face. Mrs. Steele's wine of doubtful flavor ad taken swift and startling effect pon the colonel's English guest. He ly helpless and inert against the rough ench, and by the light of the stable imp Martin saw that he was buried eep in a drugged, unwholesome sleep. To Be continued LuNG LOST CITY IS EXPLORED, j ligging For Incas' Treasure In the "Cradle of Gold." i Details of the first exploration of the 1 jst "City of the Incas" by others than 1 'eruvlans were brought to New York < Vednesday by Dr. Hiram Bingham. I scturer on Latin-American history at ' rale university, an authority on the ' istory of the South American conti- ' ent. He arrived on the Prinz August ? Vilhelm, of the Hamburg-American i Jne's Atlas service. . i Dr. BInghum, in a trip across South i imerican, completed only a few weeks i go, was the first foreigner to reach ' Jhoqquequirau, which until a few nonths ago no man, according to le:end, had seen in 400 years. His Jourley occupied seven months. He travled 1,000 miles on mule back and nade a side trip to Valparaiso, where ie attended the first Pan-American cientlflc congress as a repesentative f the United States and of Yale. "The name 'Choqquequirau' means cradle of gold,'" said Dr. Bingham and the legend says that it was the lace where the rulers of the Incas id their treasures, when they fled from he Spaniards in the time of Cortez. rhey formed a company down there ast year which was digging for buried reasure. ? U 5CL Uicic 1CV|UUCU U ?* vvii, u MM.u ravel from Cuzco, the ancient capital i if the Incan empire. Most of the time 1 re were hanging on to the side of a 1 nountaln almost by our eyelids. We ] lad to descend into a valley 6,000 feet I leep, across an otherwise Impassable ' iver by a suspension bridge made of i our telegraph wires, wade through a ungle for sixteen miles, and then i lumb up 6,000 feet. Choqquequirau lies i it an elevation of about 13,000 feet. "I believe that the place was a fort >uilt by the Incas to protect them- i lelves against attacks of the Amazonan Indians. I found traces of forti- i lcations, made measurements, opened wo graves, and found many interestng relics. The buildings are made not >f the finely wrought stone of the pal- i Lees in Cuzco, but of roughly hewn itone, cemented together, and the ineriors in some cases are plastered. The houses are not unlike in appearince to some of those of New Engand?a story and a half high with a table on one end. i "The old water works remain, and leveral reservoirs are in good condiion. There are three separate groups >f buildings besides the fortifications, i ind on three sides of the place are ; iteep precipices."?New York Herald. ' Receivers^ New York's Safeguar Mone ISAAC F. MARCOSSON, /n The story of our receiverships Is an Btudded with records of waste, excess th and often spoliation. No phase of It sw touches the great mass of the people er< more intimately or more disastrously $2 than that which relates to failed fl- trt nanclal Institutions, the depositories of su the people's money. fe< Aiifnnofa nf nflillr.. th.' DtUilV lail U i WD| MIV VUvpuw V- y ? ?f ire bad enough; but when waste, delay foi md extravagance meet In the winding ye up of their affairs the evil is doubly thi bad. In io state have bank receiver- m< ships offered such rich pickings as in tui New York. This was because its polit- ] leal spoils systems were more perfect- Mi ly organized than elsewhere; and, sec- Br jnd, because It is the country's flnan- ' :ial center. Subject to the Jurisdiction ua >f its banking department is twenty- thi ane per cent of the entire banking wt power of the United States, or nearly pa three and three-quarters billions of of dollars of assets. sei But Just as New York afforded the pel fattest fruits of receivership, so aiso 931 has it administered the first real re- ,fln buke to the old system which made |du them possible. In brief, the first anni- . ' yersary of the birth of the law which xei takes receiverships of state financial cei Institutions out of the domain of spoils, ' ind provides for a departmental liqul- mi latlon similar to that of failed national banks under the direction of the con- < troller of the currency, finds order and rel sconomy in the administration of one "II it the most important of all trusts. A ne precedent has been established which pr may be followed with profit by every clc Dther state. Behind its results is a lea- sai son of real public service which has of 3igmlficance for all citizens, because, in en jne way or another, nearly everybody th; nas some connection with a bank at in some time In his life. ' This law sets up another mile-post in gr the triumphant career of Charles E. ed Hughes as a governor of all the people; of for this statute in checking receiver- 1st ship excesses is a full brother to the th< public utilities measure which put a wl 2urb on corporation abuses. Both are in Hughes measures. na In order to get the full meaning 01 wc the effect of the new banking law let us go back a few years and see the Bl tvork of the system at which It was wl Urned. In New York, as In other states, ga receiverships of all kinds were a sort of "n :oin with which political debts were ne paid. There was no secrecy about this, all When receiverships were announced thi there was frequently no occasion to tw look for the names of the Judges who an nade the appointments; you could des- a Ignate the judges by the names of the al( men selected for such posts. The state al< banking laws provided that just as ml 30on as the superintendent of banks ev learned that an Institution was in an bu unsound condition he was to close it ug up, take charge and report the matter eel to the attorney general, who at once ] went Derore a supreme court juaga anu va isked for the appointment of a tern- rel porary receiver. From the moment the th< receiver was named the hands of the E\ Danklng department were removed. Nf Anybody with a strong enough pollt- thi leal pull could be appointed receiver, of He might have been a blacksmith at Ki Kingston or a dentist at Buffalo. Bus- a Iness experience was no qualification, all iesplte the fact that the office required ba the highest kind of business capacity. re< All matters were referred to counsel ed who were appointed by the receiver, ; md counsel fees became the choicest mi by-product of receiverships. sti Fattening on Others' Failures. of One administration was as bad as m< mother. Once when the Republicans ke ivare tn nnwpr thpv had the banking laws amended so that the attorney gen- ^ eral could apply to a judge anywhere in' In the state for the appointment of a receiver. This was done to get the patronage away from the jurisdiction of the Tammany judges In New York ^ sity. By this means a judge in a remote up-state district could name the en receivers for a bank down on the east ,et side of Manhattan. Politicians looked to jpon receiverships as legitimate spoils. 'It Is more blessed to receive than to ?lve," became the motto of the broth- w jrhood that fattened on failures. t,c Governors came and went, but the se< receivership system went cn. Now, the na real losers were the depositors who had an their money tied up In the failed banks an ir In the stock building and loan asso- bo ciations. Even if the banks happened to to have sufficient assets to pay out in by the end, which rarely happened, the flb long1 professional delay of the receivers (haste was considered very bad form ] tn receiverships, for the longer they ic, lasted the greater were the fees) kept tui the deposits inactive and out of the an channels of trade. The depositor lost toi not only the value of this money as a to means of obtaining credit and expand- ag Ing his business, but also the interest do that It might have earned if it had nls been out at work. Everybody was ' trimmed alike, for the system knew no bu party or creed. There was little or no H< publicity, and this silence was golden, ha The receiver was entitled to from two of and a half to five per cent of all de moneys handled. In addition to elabor- H? ate expense accounts. In some cases its the expense of administering a recelv- an ershlp was as high as eighty or ninety dli per cent of the receipts or the total ' amount of assets. su Here Is one concrete case which ch shows how the system worked: The re] Republic Savings and Loan association wt found Itself temporarily embarrassed in June, 1900, and went Into the hands of of a receiver. wl Mimt of thf> <t I irk lit ilrlorH of this Com- lie pany were poor people who had put Its their savings into the stock in the hope wt of being able some day to buy a home, loi It was Important that every asset en should be safe-guarded and realized rei on in the quickest possible time. What ed happened? At the time of the failure M< the estimated assets of the company sei were $ 1.086,000. When the final ac- ow counting of receivers was made last Hi year, exactly eight years after the fall- ph ure, the assets had shrunk to $30,000 thi fp Abuses d for the People's ? Saturday Evening Poet. jj d the stockholders got six cents on e dollar. The receivers, in their orn statement submitted to the refje, admitted that they had collected 76,000, but that the cost of admlnisitlon had been $193,000. Of this huge m $179,000 was expended for counsel :s and clerkships. One item showed a.t the lawyers had charged $20,083 p tin 000 which It took two are to collect. It was estimated that e total cost of this receivership was >re than seventy per cent of the ac- ' al assets. fa passing on this case the referee, P. Alexander McKlnney, a well known 1 ooklyn lawyer, said: "It Is Indeed a very unfortunate sit- 1 tlon for the shareholders to And that e assets of this corporation, which sre placed by the state banking dertment, just prior to the appointment the receivers, at $1,086,000, and subjuently fixed by the receivers themIves at $904,000, have shrunk to about 0,000, as appears by the receivers' al accounts. This was apparently e to two causes: "First: To the Improvident and ;kle8s Investments made by the offl ns ui me uurpumiiuu. "Second: To the expense of the adnlstration of the receivership." The Maze of Legal Red Tape. Continuing, Mr. McKlnney said, In I ference to the attorneys' huge fees: t did appear to me that their attorys had unnecessarily prolonged these oceedlngs, which should have been tsed some time ago. It should be Id in fairness that the administration this property was In no wise differ- 1 * n?? rnloHvolv mnPo ATnpnfllvA an, that of the average receivership New York. "Our statutes have permitted the owth of a Bystem which has receivthe passive, if not active, approval J the courts, whereby the sole adminration of affairs is usually placed in 1 e hands of the receivers' attorneys, 10 envelop the most trifling matters a maze of legal red tape when ordi- ' ry acumen and business experience >uld suffice." Another case was the New York illding-I>oan Banking company, lich failed in 1903. It is still In litition. It was one of the so-called atlonal" associations and not a ighborhood company, which is usu- 1 y conservatively conducted. So far e stockholders have received twenty? and one-half cents on the dollar d will probably get a little more. In j single year the expenses of counsel >ne were $90,886.24. One attorney >ne got $73,921.80 of thla The list ght be continued at great length. In ery receivership, whether bank or tiding association, delay and extravance marked the work of the reivers. It sometimes takes a great war or a st calamity to produce a national form. So It required a panic to shake e receivership system to its fall. rerybody knows what happened In iw York city In October, 1907. With s closing of the great bronze doors the white marble palace of the llckerbocker Trust company began financial disturbance that unseated business. A dozen other New York nks and trust companies failed. The seivershlp tree, like its time-honorfellow, the plum tree, bloomed. In those trying: days there were three m in public service in New York ite cast for big parts In the undoing the old receivership system. Forejst among them was a sturdy, whisred, keen-eyed man who sat in the vernor's chair at Albany. He was larles E. Hughes. In the same bulld5 where he ruled there was another in who had been lifted from a law ice in Buffalo and projected into the Ice of attorney general. He was illlam S. Jackson. Down in New >rk city, in the office of superlntendt of banks, was a clean-limbed athIc young man who had been called that post in a dramatic hour( it was e clay arter tne KnicKerDocaer iaueu; Governor Hughes. He was Clark illlams. He had never been in polls, had never held office, and had not ?n the governor until the day he was med. But, what was most Import t, he had been through the banking d trust company business from the ttom, and he fitted conspicuously Inthat group of men named for office Governor Hughes on account of illty and not pull. The Governor to the Rescue. During the period following the panwhen the shattered financial lnstitlons were binding up their wounds, ounce of confidence was worth a i of gold. A receivership was a thing Ko avr>Mori rather than to be encour ed. What did the attorney general ? The case of the Oriental bank furshes an answer. This Institution weathered the panic t found itself owing the Clearing mse a million and a half. The bank d a capital of $750,000 and a surplus more than a million. But, on a sudn call for money from the Clearing nise, It found itself unable to meet i obligations, and rather than jeopd the interests of its depositors the rectors decided to quit. This fact was communicated to the perintendent of banks, who took arge of the bank, closed It up and ported it to the attorney general, as is required Dy siaiuie. Now if happened that the directors this bank were men of high integrity 10 had a profound sense of their obation to the depositors, whose deposi aggregated J6,000.000. They did not int these stockholders to incur the ig and expensive delay of a receiv ihlp. They knew what other state selverships had cost, so they arrangto borrow enough money from the ( ftropoiltan Trust company, on the curity of the bank's assets and their n bond, to pay the depositors In full, iving done so they sent word of their in to the attorney general, asking at no receiver be appointed. In their i letter they said: "We trust that this plan, which has the advantage of paying all the depositors and relieving them from every inconvenience due to the closing of the bank and tying up of their deposits, will meet with your | approval." The attorney general received this communication, but he none the less had a receiver appointed for the bank. The directors at once took up the case before another judge, who, on a simple statement of what it . proposed to do to protect the deposi- , tors, vacated the receivership. The receiver who had taken charge was only in office seven days, but those seven days cost the bank $24,000. As ^ an evidence of the good faith of the directors it is interesting to say that , not only were the depositors of the bank paid in full but also a dividend . was paid on the stock. The same attorney general about that time named his secretary, who had been receiving a salary of $125 a month, to a receivership of the Mechanics and Traders bank. He pulled $20,000 out of it in three months. All this did not escape the notice of that keen-eyed, whiskered governor up at Albany. He had been elected on a platform that declared for service to all the people; and when you know Governor Hughes you soon find out that he usually does what he sets out to do. He was Independent of the bosses, and it was the bosses who had kept alive that old receivership system. That system was not the only defect in the state banking laws. One reason why some of the big trust companies in New York had been unable to withstand the inroads of panic-stricken depositors was because they had been doing a savings bank business at the receiving end of their counters and a speculative business at the disbursing end. They did not have enough reserve ...V. Hio niHolo noma Thla n Tan *?n V? IICII Hit VIIOIO vui?v. ? ? gaged the governor's notice. Many governors would have leaped in and demanded reform without investigation. But that is not the way Governor Hughes does things. He informs himself first and then acts. What he did was to appoint a commission of prominent bankers, headed by Mr. A. Barton Hepburn, president of the Chase National bank, to suggest changes in the banking laws. In Its report the banking commission urged a radical change In the laws governing receiverships, recommending that all liquidations of failed state Institutions be made under the supervision of the state superintendent of banks. The committee referred to the economical way in which national banks were liquidated under the direction of the controller of the currency, and suggested that a plan similar in scopa be adopted for New York state. (To be Concluded In Next Issue.) j ENvER BEY. 1 ft|a Been Called the "Napoleon of the < jl Young Turks." fenver Bey, who has been the most 1 prominent of the leaders of the Young 3 Turk forces In the field during the pres- < ent uprising against the power of Abdul Hamid II., has been described as J the Napoleon of Turkey and the Idol ( of the army. Personally, Enver Bey < disclaims any such distinction and says 1 of himself: "I am simply a lieutenant ' of Chefket Pasha, who is commander- i In-chief of the army of liberation." < Despite this modest self-estimation, fVixx font romolna tha t P!nVAr RPV hflR ( displayed the qualities which make for generalship of the highest type. He first came into military prominence during the revolution at Saionlca last July, the uprising which gave the Young Turks the constitution they desired and which they are now fighting to maintain. In company with Nlazl Bey, Enver Bey was the brains of the initial Young Turk movement and in this present movement against the sultan his selection by Chefket Pasha as a leader of the forces has proved a wise one. At present ranking as a major but with far greater powers as tne neaa < of the constitutional forces, Enver Bey > stands In line for great distinction in 1 the event of the successful outcome of the revolution. Of good family and i high character, and a hard worker from i the date of his entrance into the army < through his course at the Pancaldl Staff College up to the present time, Enver 1 Bey has enjoyed the greatest popular- t ity among his comrades In the service, j As a member of the Committee on 2 Union and Progress, the executive body of the Young Turks, It has been neces- I sary for him to dip into the political I end of the revolution; but It Is in the > organization and direction of troops < that he shines most brightly. The pol- 1 ltical work has been distasteful to him < and the command or tne iouns mm ? forces, which has devolved upon him I to a great extent, is much more in line ? with this young man's desires. f When the present outbreak came, Enver Bey was in Berlin negotiating the 1 purchase of arms and ammunition; but upon receipt of the news of the revolution he hastened to Salonica by way 3 of Vienna, taking with him Hakki Bey, t the Turkish military attache in the Aiistrian capital, who is also a mem- ? ber of the general staff. Immediately "! upon his arrival at the headquarters of ? the Young Turk party, he became the 1 moving spirit of the organization, anl 1 the success which has so far crowned ? Ms errorts to estaonsn a luhoihuuuiio. government for the Ottoman empire have marked him as a born leader.? New York Sun. Beating Against Barriers,?"China Is making an effort to break down the barriers that have been raised against her In Australia," Charles D. Knight, a lawyer of Denver, who has spent many years In the Orient, and who recently rturned from Australia, said to a Washington Post reporter. "This Is shown by the recent appointment of Hwang Yuan-lung, as Chinese ? ? rw ? i J muA consul general ror wew ^euiauu. inc appointment of a consul general in Australia, It Is said In China, Is due to the presence In Australia of several thousand Chinese, against whom, It is complained, the provisions of the Immigrant act are more rigorously enforced than against the Japanese. The Chinese naturally do not like the general trend against the yellow race that has been shown In Australia. The Chinese merchant In that country has been singularly successful, and he is looked upon as honest and intelligent, both of which qualifications eannot be ascribed to the Japanese." * piiSfttlanrous grading. THE REVOLUTION IN TURKEY. Description of 8unday's Fighting In Constantinople. London, April 26.?The Constantinople correspondent of the Chronicle, In a ilspatch dated Saturday describing the Jtreet lighting, says the people, regardess of danger, crowded the streets. Women rushed into their houses and jot refreshments for the victors. The latter attacked the Tashkisla bar-acks, the stronghold of the sultan, which was held by the Salonica Chasseurs, who betrayed the Toung Turks. The fight was a bitter one. The stackers were met by a withering muscetry fire from the upper windows of :he barracks. Then the artillery spoke at 2,000 rards. Shells fell into the Bosporus >ver the British embassy, one narrowly nissingthe British ambassador's yacht Another shell killed a Bailor on the Italan embassy's yacht It was a twenty minute Domuarunent, a majority of the garrison were panic stricken and tumbled from the windows. Many were injured. Others sought to escape by way of the Bosporus, but the invaders were everywhere. Some fugitives sought refuge In the lemetery outside the German embassy. Here among the tombstones and cypress trees a last stand was made. A lew volleys were fired and the survivors then threw down their arms. The correspondent saw this phase of :he struggle from the roof of the Qernan embassy, the windows of which were riddled by bullets. Two hours ater the remnant of the garrison surrendered on condition that their lives ie spared. The SaJonlcans showed their contempt by spitting on their prisoners. The populace is mad with Joy. BonIres were lighted and the city illumilated. The military students and 1,000 volunteers in variegated uniforms have ioined the victors. The victory is complete. The sultan's power is crushed. The casualties were not great Every >ne Is Impressed by the organization ind discipline of the conquerers. In a dispatch timed 2 p. m. Sunday :he correspondent says: "Constantinople Is itself again. The ihops and cafes are open and the people are drunk with the enthusiasm of victory. They are crowding me ?uixui inder brilliant sunshine, acclaiming :he victorious army and behaving generally like po many children freed from :he thraldom of a hard taskmaster. "The victors are behaving with singular magnanimity. They disdain to punish the treachery of yesterday, when :he troops at the Yildlz Kiosk, hoisting l white flag, treacherously fired on a party of Salonlcans who advanced to irrange a surrender." The correspondent Interviewed En/er Bey, whom he described as the Napoleon of Turkey and the idol at the irmy. He said: "Our cause Is not one of aggrandisement but of liberty. We are lighting :he battle of our country, which Is one )f progress and enlightenment If we lave triumphed it is because we have Turkey at our back. The army Is but in Instrument of the people's will. We lid simply our duty. "The future of Turkey and the fate >f the sultan are not for us but for the rational assembly to settle. The army ras no intention of setting up a miliary dictator. As for myself, I am simply a lieutenant of Chefket Pasha, who s commander in clielf of the army of ibe ration." Enver Bey admitted that part of the lultan's army escaped to the north in " ""? <- V...4 h. .aM :ne airecuon oi i neiapia., um ? ?uu ;hese troops would soon be taken. The correspondent then with a pernit from Enver Bey drove to the Ylldli. Kiosk. He says: "I was received by tfenduch Pasha, the commandant of :he palace guards, and also by All TJey, he sultan's chamberlain. The comnandant Is an old Turk of Falstafflan proportions. "'We are In the hands of Allah,' he said, with an expressive shrug. 'We jurrender because of his majesty's orlers.' "The palace guard Is still doing duty without any arms, but Menduch Pasha's sword has been returned to him. 4" Rev who is minus a sword, Is a ^oung, alert looking officer. " 'It was 1/ he said, 'to whom the aul:an entrusted his commands ordering :he surrender of the Yildiz Kiosk. His najesty bade me say that the Salonilan army were his children, and he vished to prove that he was still father >f the rebellious ones. So to avoid the spilling of Turkish blood he ordered :hat resistance on the part of the palice guards should cease. His bodyguard simply did their duty. " 'His majesty,' continued All Bey, s quite well. I saw him an hour ago,' nit, added All with unconscious irony, he Is slightly worried by the events of yesterday. He is confident that everyhing will come out right.'" The correspondent proceeds: "The lultan has promised to remain at the nidiz Kiosk, but lest he should forget l gunboat has been stationed in the 3osporus opposite the palace. When I eft the eunuchs were disporting themioIvps in the sun outside the gates. "While I was talking to Enver Bey he advance guard of the army of oc:upatlon, headed by the youthful Fehta 3ey, took possession of the Taxlm 3arracks. The Salonican regulars, volmteer Bulgars and Macedonian and Vlbpnlan irregulars were brave, but the notley throng, some with sheepskin >oots or sandals and others with no >oots, reminded one of Napoleon's ragfed conquering legions. "The troops included men verging on '0 years and boys still in their teens, rhey were singing a rousing war song o the tune of 'Partant pour la Syrle.' Phey swung forward and then catchng sight of their hero, hundreds of hem, officers and men alike, broke -anks and embraced Enver Bey until ie was carried off his feet by the rush. "In their enthusiasm they kissed him >n both cheeks. One sunburned MaceIonian, with deeply furrowed face, and vith gray hair streaming wildly over lis shoulders, after embracing Enver Bey, knelt at his feet and kissed his :oat, saying, 'Our liberator, our proector.' "Words cannot do justice to this movTf won tho nont iin pnthll. ilasm of the national army of patriots | finding expression. Tears came to every one's eyes, Enver Bey's included. He hurriedly moved away to hide his emotion and to escape further manifestations by the army, which was beside itself with a delirium of gratitude for Its victory." CARNEGIE HEROE8. Commission's Report Tells of Many Brave Deeds. The most recent statement of the Carnegie Hero commission cites instances of bravery that range from the exhibition of sheer strength and display of nerve to acts involving re-* markable presence of mind and llgbtnlbg-like calculations. Mr. Carnegie declared, upon announcing his Inten- ^ tlon to found the hero legacy, T do not expect to stimulate or create heroism by this fund, knowing well that heroic action is impulsive." Developments in the investigation of cases brought to the attention of the commission have proved that the ironmaster was correct Apparently neither age nor race plays part in the act of saving life. Nor, It seems, is there any thought of the socalled first law of nature, or self-preservation. For instance, Clifford V. Graves, aged SO years, a farmer, of Versailles, Ky., saw an enraged bull attack a negro laborer. The brute had tossed the man against a bank and had withdrawn a few feet for a charge. Graves did not take time to run for an effective weapon. Drawing a pocket knife, obviously a futile weapon with which to fight a bull, he ran to the negro's assistance. The horns of the brute had penetrated the negro's stomach, but the bull de siBiea wnen wsvertu siuup hbub iu u>? neck from the penknife attracted hie attention to Graves. Before help arrived. Graves was disemboweled and crushed by the bulL A silver medal and $2,500 were awarded by the commission to Graves's widow. A silver medal and a monthly allowance of $76 for the balance of her life was awarded to Sarah H. Killlkelly, 70 years old. Miss Killlkelly, an author ?" ' oovaH Marv U! Vllnillnn a servant, from death by lire In Pittaburr by knocking the biasing woman to the floor and smothering the flames with her own body and a rug. Both were terribly burned, but both survived. The number of awards in water accidents Is remarkable. Terrlflc water struggles are vividly described, and the commission's report contains many Incidents which are only a collection of tanta that hilt* thrtlllnar atories of romance and human interest Wade H. Plummer, 15 years old, a schoolboy, saved John M. Gibson, It years old, from drowning when the ice broke at the finish of a championship race in the middle of the Lynches river at Lamar, 8. C. Gibson won the raoe. Friends crowded about the victor. The ice^gfive way and Gibson sank. Plummer jumped into the hole and caught the collar of Gibson as the latter was being sucked under the solid ice by the current Plummer fought a terrific nmJnut the tide, but deanite his heavy clothing and skates, escaped with his friend after the ice had broken twice more. A silver medal and $600 were awarded the nervy boy. The well known story of Mark Casto and his six men In the schooner Alberta, who saved the lives of the passengers of the steamer Cherokee, wrecked off Atlantic City three years ago, Is told. Casto received a gold medal and $6,600. Of this sum $6,000 Is educating Casto's son. The crew got bronze medals and awards of $500. The heroic work of Oliver I* Schmuch, Clarence J. Pope and Henry M. Curry, Jr., at the time of the de structlon of Chi Psl Fraternity house, at Cornell, comes in for attention. All these men were students. Schmuch received burns endeavoring to And his room mate, William H. Nichols, who was lost in the flre. Pope fell from the third story of the house while trying to save James McCutcheon, 2d. His attempt was unavailing, and he was seriously Injured by the fall. Curry likewise received injuries in the futile attempt to save McCutcheon. And so the stories go. The report of the commission is vastly more than a statement of deeds. Democratic Peers. Strangely enough, the house of lords still remains the most democratic institution in England. It may still claim for Itself to be the Wltenagemot, or gathering of wise men, and one wonders why it does not defend itself along those lines. It is not a house of birth or ancestry, for it is composed today to an overwhelming extent of successful men from almost every walk of life. No one o Ac mhot a mnn'j AJlMwtrv was army and conferred about twenty earldoms. Not one of these exists today, nor do any of the honors conferred by William Rufus, 1087-1100; Henry I? 1100-1135; Stephen. 1135-1154: Henry II.. 1154-1189: Richard I., 1189-1199; or John, 1199-1216. In this matter of fact land if he succeeds, If he becomes rich and powerful. The mother of the great Queen Elisabeth was the daughter of a plain English gentleman. A pot girl of Westminster married the master of the pothouse. After his death she consulted a lawyer named Hyde. Mr. Hyde married her. Mr. Hyde afterward became lord chancellor, with the title of Lord Clarendon, and his wife, the former pot girl, bore him a daughter. This daughter married the Duke of York and became, the mother of Mary and Anne Stewart, both afterward queens of England. It is evident that If queens of England may have a barmaid for grandmother lesser mortals need not fret on the subject of ancestry. The Englishman would not be what he la nor would he in the least be transmitting his very valuable Saxon heritage if he gave up his democratic custom of an aristocracy of power for the feeble continental custom of an aristocracy of birth. What the one and the other Is today answers the question as to the relative merits of the two systems without need of discussion. The English, though nowadays many of them do not know It themselves, are the most democratic of all nations. William the Conqueror divided England among the commanders of his