Historical Newspapers of South Carolina

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HOLDING ITS OWN SEVERAL FAILURES OF BANA ING AND TRUST COMPANIES. The Big Banks Meet All Demands of Depositorg-Icekord Pause Re lieves Situation. New York. 0)1. 25.-Anot]her ner ve-racking day has passed but the financial in-stitatiuios of New York 'have shW., extra'oiarv nower of re(-:..:-,,.-,,r!!nre put uponmi !ih'~. Wa* i i .ime that sevral to el 1e tho ir tior". vet t' thinas sl)IlIe Sai ')out tin-fl. i, thlat the auet invlvd wva-; not so 5rea: as to exeri v a'ked 'inf!uence the geeneral :,itti"n. as 1hese bank., were lcedin residemia! quarters and did not eome into foucb with the larter finam-ial institnticn, of the metropolis. and sef. tiat there is every ; assi to b-.lieve that these banks and in:t nmpaiies are en tirely solvent and their difficulties will -prove io be onl.v t-mporary and due entirely to inability to secure ready eash on the gilt-edged securi ties in their vaults. In the light of the general excite ment the savhins banks -thought it wise to put into effect the rule re quirin4 30 to 60 days' notice for the withdrawal of ,euosits. and this-will prevent the withdrawal of mon-ev which would otherwise be put in safe ty deposit boxes. The savings banks, if they continued to make payments, would be obliged'to withdraw funds from the national banks, thereby causing an additional strain on the general banking situation:' There was not the slightest hint that any of the savings institutions was in any thing but the soundest condition and it was pointed out that the savings banks of this state are so restricted by law in inv2sting their money that there can be no question that all of the securities in their possession are of good value and readily salable in normal times. Banks Closing Their Doors. Ihe institutions which closed their doors today, with the sums due depos .itors, were: The JUited States Exchange bank. Harlemn, $600,000. Internaitional Trust company, about $100,000. The Borough bank of Brooklyn, $4," 000,000. The Brooklyn bank, $2,000,000. Wi-1-liamsburg Trust company, 'Brooklyn, $7,500,000. The First National 'bank , of .Brooklyn, $3,500,000. T'he Frist National bank of Brooklyn, the Williamsburg Trust company and th~e International Trust company were allied institutions. None of these companies ha,d any im portant business connections with the larger banks wihich are representa tive of Ahe city%" financial affairs. Paid All Demands. On the other hand a number of fav orable features marked the day. The Trust Company of America and the Lincoln Trust company. the two or ganizations which have suffered most from runs, have been slowly paying out to their depcsitors and closed to day with all demands having been met. In the case of the Trust Com pany of America the run has well nigh spent its force as the great bulk of the depositors have been' paid off. At the close of 'business there were a good many in line at the Lincoln Trust company, but also there was 'marked reduction in the nuimber of anxious depositors. The most favorable incident of the day was that the stock exdh'ange was provided with funds ample to meet its imediate necessities by a money pool, headed by J. Pierpont Morgan, which sent about $15,000.000 to the .exchange during the afternoon. As all of the loans made today hold over until Monday, the stock exchange sit uation will not be a factor in the pro blem that tihe bankers may be called upon to solve tomorrow. A very en couraging feature of the afternoon's developmensts was a signed statement by Clark Williams, the newly ap pointed state superintendent of ba.nks, affirming the solvency of the local institutions. A further encouraging development of the afternoon, the good effect of which can se-arcely be over estimated, was .t'he decision arrived at unofficial lv to issue ele'tring house certificates. probably tomorrew. There will be a full meeting of the clearing house as sociation tomorrow morning at 11 o 'clock for the purpose of taking of ficial action for the issuance of these certifica.tes. The immediate effect of this will be to enalble the banks to settle -the balances between themsel ves with these certificates and there rele#ase large sums of currency for 'Clearing House Certificates. The dciSin ti is-ue clearing house* U3 ert ificates is likely to end furt.her anxiety i-n regard to the supply of rren ev. The first issue of elearing house Ti ertificates was in IS60. Th? last oc oi )1 - which the'v were availed f x ZI i 1 :1S. Tw certificates are 'e n I ly 1:e tl eeii -ank.4 in Iie set- o 'Nment of ir cs at fhle cler- i nI Ihouse. Thiey do not appear in in reneral circulation. It is believed by da omIctent banker that an issue of I ;5M)0.00 will be the outsi(le limit To W J:l 1o fgar ier oni TIhat rns upon banks will cease. ;o ha that i will not he necessary to keep ia tie (ertifi(ate ointsta.nding for any fim e1n;iderable ]en-th of time. I Th? fact that -the banks and the Th stock exchange will be open for busi- by ness but two hoars tomorrow and that rel Sunday. with all its opportunities of e.aIlninz :public sentiment. will inter vene. added to the more hopeful view of the situa.tion taken by tihe leading Ca financiers tonight, will d.o much to ward clearing the finacial skies be fore another week begins. St. ROOSEVELT INFOEMM St OF FINANCIAL CRISIS eal bv ...pproves Methods of Relief Adopted by Secretary of the Treasury sta Cortelyou. Washin:2ton, Oct. 24.-President Ha Roosevelt was today thoroughly in-H formed regarding the finaneial stress che in Wall street and Pittsbui and is by understood to regard the crisis as ov- Sti er, and also to -approve of the meas ures of relief- which Secretary Oortel you afforded both cities. SIg Both Senator knox and Assistant wh, Secretary of Treasury Howard had Stil direct information from Pittsburg by it telephone today which was of most the reassuring character. Senator Knox str told the president that all apprehen- sti s.ion in that quarter was dispelled. Secretary Garfield, who, on his recent extended Western trip, made finan cial conditions a special subject of an inquiry. viewed the situation with the president at some length. What the secretary found in the west was der also encouraging. He reported to the president' that Western bankers have gradually iheen divorcing them selves from Wall street influenceas un- hig til they are now praotically independ- ag ent, at least to the extent of not being fr embarrassed because of a slump in flu the securities dealt in on the New WI York stock exchange. Their loans str4 are largely secured by Western real wh estate and other local securties and yoi those which are based on Eastern se- SU( eurities have largely been readjust- be ed during the past year on the lower An value of the securitier.m The president, when asked if he Ca would make any statement on the sit- at uation, indicated that comment from Iinl him was unnecessary. $100,000,000 REQUIRED fei TO PREVENT GRB1AT PANIC New York, Oct. 240-Seldom if ever p had the veterans of finance seen a great situation saved so quickly and so effectively by such a Napoleonie strokeL Wihen th'e stock exchange closed every one was getting all the money he wanted. The close was marked by a memorable scene in -whieh -the brokers gathered around the principal tr,ading posts and gave three cheers for J. P. Morgan and the members cf the pool which had saved the day. The ag<rregaite amount of money which had been contributed in order to weather the storm and restore con fidence assumes truly colossal pro portions. Roughly estimated it in ludes $25,000.00. which Secretary Cortelyou deposited in the New York banks, $25,000,000 which the Morgan pool brought to the floor, $10,000.000 which John D. Rockefeller deposited' with the Union Trust company as a means of stemming the tide at the Trust Company of America and final ly another .$50.000.000 which it is uin derstood Mr. Rockefeller stood ready to advanee to meet furt>her stress con dtions-in all eensiderably in ex ess of $100,000.000. NO CHANGE IN MANAGEMENT. Central Railroad of Georgia Under the Same ;Control. Macon, 0Ga., Oct. 24.-President J. F. Hanson of 'the Central of Georgia railway today wired Oakleigh Thorne of New York askin<r him for infor maton of the reported sale of the controlling stock of the Central of' Georgia. Tonizht he received a reply by wire signed Oakleigh Thorne, say ~ing: "Absolutely no change in situa T. LIND"i G' BAL. iion Physician Who Shot Luc Lipsey About Ten Days Ago is Rele sed From Jail. te State. Enion. Oct. 24.-Dr. W. L. Linder ) silo! 1.uey Lipsey on Tuesday i0er 15. pre-sainablv as ih rsu heri atek on him in his pivte of o Marrcl 25. when she shot in 4e back witiout warning, was to v releise-d on hDail. YesterdaN .srs. 11). B". Townsend and W. W nnof Dr L~ inder's emm-:lbc wen 1' C.~ i11. X 1 h mr! m :it %. . To V the Zamnd v Ja ilv :idI. 1Ithos< nishin.g' it bein,g )r. S. S Linder J. F. E. Linr l1 R. L. McN all same ing been duly approved the clerk of court, Dr. Lildc-r A eased from jail. E SURE WAS A MAN. adidate Calls Another an Old Mar and Soon Discovered His Mistake. Louis Democrat. Yhen William Allen rose up in the ,y '70's and surprised the country beiing leeted governor of Ohio on Democratic ticket one of the ob eles he triumphed over was the Lrge of being an old man. He a, ssed a great meeting at Mozart 11 in Cincinnati the night following day in which this ill-advised rge -had been brought against him a responsible Republican leader. ong, vigerous, and well preserv as he was and retaining unbroken ,t quality of voice which had de tated him as "Foghorn Allen" en he was in the senate, he was politician enough to use it for all was worth to him. After stating charge in all its heinousness, he ightened himself to his. full ht of more than six feet, and, inning in a loud voice, asked: 'm I a man?" The -nest question in a voice pitched a scale higher asked: "Do I look like a man?'' the third in which lhe put out all bis tremendous vocal power, thun ed to shake the roof in rearing, o I talk like a man?"' e audience was thrilled. Such a physicial power in a man of that appealed to it irresistibly, and a it flowed out the waves of in ee which revolutionized a state. tite people continue to admire mgth and thiat rectitude of living .eh keeps a man strong far be .d his youth. No man who can make h an appeal to them han be said to too old for anything in their gift. i even Teddy in the canebrakes -t keep an eye on his Uncle Joe mon kicking the bal-l for the goal the opening of the footbal.1 game Galesburg, Ill., last Saturday. iot men have~ to die to have dif mt things said about themn! s giving~ up tobaceo a man can nr1. more on his other bad habits. A Favorite I With This new, improved laxa come extremely popular everywhere. It works so effectively that it never fa relief, and at the. same 1 interferes with business. Orderi I have none of the faults of ti tives on the market. They are and better. Positively doi cause nausea. Quickly and cure constipation and sluggisi not followed by any cons3iipal Regulate the bowels perfectly and you will understand what ment they are over other rem< Pleasant, vanilla flavored ta Small Box (12 tablets) Large Box (36 tablets) CILDER. & WI i IT-: T ,TES OF AMERICA.j-1 ~OT., DISTiiCT OF SOUTH CAILOLINA. In the District Court. In re.. Adam Crane Jones. Bank rupt. I r,14nt to an order of he Dis 'isI ('ourt of 1 e I)ioriet . :i.i'.:.-ii dayv oft Oerob'er, 107.I I wil la )puliic aucn to th i- t 1r, ons Monday. No h-r -. 1 7. at 11 o 'Clock in the iiiwid ini t Town IT NeVw . rst and S at e a foresaid 1.Tin b I- .rpai-el of! lan,d c n t.ni11 o2le and 32-100 acres, more or e:--. :nmwn as the Boozer lot and bounded by Calhoun street, by Pressly street, by McMorries street, by lot of William Johnson and by lot of Lucy B. Smith. 2. One-half an acre lt bounded by Caldwell street, Boundary street, Nance street and the Brown lot, known as the Metts lot. 3. That lot or parcel of land, con taining one-half an acre, more or less, bounded by Caldwell street, John stone street, Nance street and by the Metts lot. TERMS OF SALE: One-third cash and th" balance payable in one year from the date of sale; the credit por tion to be secured by the bond of the purchaser and mortgage of the prem ises-sold and to bear interest at the rate of eight per centum per annum, with leave to the purchaser to anti cipate the payment of the credit por tion either in whole or in part. Pur chaser to pay for papers and re cording same. Purenaser will also be required to insure the buildings on said property and assign policies to the trustee. Frank R. Hunter, Trustee of A. C. Jones, Bankrupt. FOR SALE, RENT OR LEASE, fif teen horse farm one and one half miles from Silver street. Ap ply to Will W. Spearman. PoR AGENTS A SUCCESS. 'THE OLD WORLD AND ITS WAYS" WM JENNINGS BRYAN 586 Imperial Octavo -Pages. 251 Su perb Bngravings from photographs taken by iCol Bryan. Recounts his trip around the world and his visits to all nations. Great est book of travel ever written. Most successful book of this generation. 41,000 ca-lled for in 4 months.. Write us for sample reports of first 100 agents employed. The people buy it eagerly. The agent's harvest. Outfit FREE-Send fifty cents to cover cost of mailing and handling. Address THE THOMPSON PUBLISUING 0O St. Louis, Mo. swel- Medicine Men tive has be- TeSoyo with men ently and s to bring- R EgX,mean me never combination makes RE.X.L. "king of all." We have proven time a;~~ndumn that Rexall Reme- a-,4 dies are knsabove all ethers. tv:o years an expert travelled all ov.erg the world in search of extraordinary .e the laa- remedies. When entirelywonderful cure of fnil nV any natuie lhe did ot gripe or notrestuntilheper sonally could see ermanently the effect of the liver Are prescription used. liver Are Where he found the e reaCtionl. rmedy perfect he purchased the pr.e Try them scription,butitwas I niever used as a Rex an improve- all remed y ui.ti! the ,dies. properties had been ileS-thoroughly ana ltS. yzed by the chem .ists and physicians 10.. of the United Drug 25 c. ...m .. - EKS, Druggists aS.ToRE 7r/w /A THAT A M HAVE A Go SELF, WHI HEKNO/S SEE THE'O COMFORT WHAT 15 k YoU CANT RIP T4EM CAN ANYTHING SERVE To BETTER oPINIoN oF YoURS GooD SMooTH UNDERWEA HIDE YoUR UNDERWEAR FR YoURSELF, 5UT DID YOU E\ ARE MoRE WITH YoURSE WITH ANY OTHER MAR, AN KEEP THE CoMPANY OF A o WE CAN PUT YOU ON GooD SELF FoR THE FoLLOWING I ....................................SUIT*S of UNDE) UNDERWEAR FoR LITTLE ..................5oY'S SUIT OF UNDI RESPECTFULLY, EWART COR. MAIN ANr THE UP-To-THE-b /THE ANNUAL FAI Will be Held Novel One Fare plus 25 cents.on all R: Grand Military Prize Drills and to participate. Firernen's Pa Contes's. Fourth Annu; (Admission F FOOTBALL-Welsh Neck vs. Citadel vs. C street Carnival, Illumination of C Shows, Spectacular "Figh Nightly on Mario: Great Depar(n MOSELEY WHAT IS EG( Economy is a frugal and judicious use thich spends money to advantage. Eco: ~reat bargain sales. We have just returned from the Nort: he market and se curing many excellent or the public to inspect our immense tore. We have the new things, the n rints from 5c. up, White Homesparn 5c. p, complete Iine of Dry Goods and noti: louble width, at Soc. is a great bargain. Touths' $2.50 to $ro.oo, Boys' from 75C. hings in Hats and Caps. Prettiest line 1ave ever had. Our experienced Northe rom the North, and our immense stock eady for inspection, embracing the new mmense line of Furniture is now ready: 3roceries, Hardware, Crockeryware, Tv s now complete. We have added a new ers, and the bargains contained on themn pe wonder how we can sell goods so ches 8S lbs. best Granulated Sugar $x.oo. IN fachine $25.00, new Defender Machine, or 20 y ears. We have only two Organs nake special offer, $42.50, elegant tones, le old reliable Iron King and Elmio Coo >est on the market. For every five doll: :hoice on our bargain counter. WIOSEI.EY BIL.O2 SOLVED. AN 3HOULD ALWAYS OD OPINION OF HIM9 CH HE GAINS BY WHAT OF HIMSELF OTHERS UTSIDE7,BUT THE H E GETS COME 5 FRoM EXT TO HIM BUS Rot/i. ./'I 0' WHAT IS MAKE YoU HAVE A ELF, THAN WEARING R. TRUE, YoU CAN ,oM EVERYBODY BUT 'ER THINK THAT YOU Lf THAN YOU ARE D DoN'T YoU LIKE TQ (ELL DRESSED MAN? FERMS WItH YOUR 'RICES: tWEAR FOR $1.00 it $2.00 $3.Q0 "$5.00 BoYjS? WHY YES. 9RWEAR FoR 50C. "e " $1.00 -PERRY Co., CoLLEGE STS., 6INUTE DEALERS, .1 FESTIVAL nber 18 to 23. iilroads for Round Trip. Darade. State Co-npanies rade and Horse Reel al Poultry Show. 'ree.) College of Charleston., >llege. ity, Band Conderts; Free ting the Flames" ri Square. leStore BROS. )NOMY? of money-that managemznt riomy is best exemplifed inour hiern markits after searching bargains. We are now ready ~tock in our great department ice things, the 'cheap things. up, Checked Homespun -5C. mis. Our Imperi:,1 Broadcloth, Men's Suits $3.50 to $15 oo, to $6.0o. New and nobby of Rugs and Art Squares -we ~rn Milliier has just returned of fashionable Millinery is now and up to date things. Our ~or inspection. Our stock of inks, Valises and Woodenware feature in roe. and 25c. coun is creating a sensation. Peo p). We mention a few specials. e e drop head Dcomestic Sewing I drop head, $1'7-93, guaranteed left, and to close them out we oak and walnut. We handle king Stove, beyond doubt the irs you trade we give free one L. THEY SELL FOR LESS.