The herald and news. (Newberry S.C.) 1903-1937, October 29, 1907, Page THREE, Image 3
I;y:" ~ ~ ~ ZA Z-O1l.NSCL EI
HARLEM.
J. Pierpent'Morgan and Other Finan
ciers Give AId-John D. Lends
Money at Normal Rate.
New York, Oet. 24.-As a result of
to-lay's eevelonr.ents in the finan
CIal w-rA fui is every iniation
that the crisis in the banking and
trust company situation has been
safely passed. The Trust Company
of America all through the day's
banking hours paid out money to de-*
positors as rapidly as possible, and
closed t..-e day with all demands hav
ing been met. A very favorable fea
ture of the situation res.pecting this
company was tha:t it was able to make
its payments with very little assist
aiee and- another was that the com
pany received over its counter in the
morninz hours in ordinary deposits
more than $1.000.00. It :iS ihe en
eral impression in financial eirelies
that thl Company havi ; witstd a
two days' run with little trouble was
undoubtedly in good condtiion t.. con
tinae its business and iin fact that
company and its affairs were not een
sidered as a factor any longer in the
general situation. As the Trust Con
pany of America had been the een
t fer o the recent financial storm it
was a rted that the ability it had
thus showa to weather the storm was
a clear indication that the financial
sky had cleared and that a period of
fair weather was now well in sight.
Three Noteworthy Episodes.
The day was marked by three note
worthy episodes. First and earliest in
the day came the announcement of
troub'e in three minor state banks in
Harlem, the Hamilton bank, the
Twelfth Ward bank and the Empire
City Savings bank. These banks
transacted only a neighborhood busi
ness and their suspansion of payment
was absolutely without significance
bearing on the general situation.
State Bank Examiner Judson, how-I
ever, declared this afternoon that all
three were solvent and that their de
positors would lose nothing.
The second episode was a run inu
guirated against the Lincol.n Trust
company. The run against this com
pany was steady throughout The day,
but the sums withdrawn were not
large. At the close of the d y the
company's officials announced that
they were fully able to meet all obli
gations.
Millions Emptied in Market.
By far the most notable, even dra
matic, episode of the day wras the
emptying of mjillions of money into
*the stock exchange through a pool
headed by J. P. Morgan and otherI
fnanciers in order to avert a ruth
less selling out of stocks held by
brokers which was threatened because
of their inability .to obtain renewals
of loans on whieh these stocks had
been carried. A remarkable condi
tion brought about this extreme
stringeney ini money which had gra
dually foreed the rate u'p to an al-.
most unprecedented figure. Certain
large interest that great financial ire
eources had been charging recently
was in effect, if not legally, usurious
rates of interest on call loans. One
inst-itution that had been engaged in
this practice was itself a member of
the clearing house and was severely
eriticized by oL'er bankers for its
action on the g. ,und that this added
an unnecessary complication and
strain to the money situation. As a
result of the criticism this institution
withdrew its support and declined to
offer money on call ori the stock ex
change. The effect of this was to
run the rate for money today up to
100 per cent. and when that figure
was quoted an extremely sharp de
ion Pacific, a 10 per cent, stock, sell
cline resulted in the stock market,'Un
ing down to par.
John 9~. Helps Out.
Notwithstanding the high rate for
call money that might have been ob
taained the National City bank, John
D. Rockefeller personally and other
prominent monied interests sent
funds to the stock exchange to be
loaned at the normal rates of 6 per
cnt. These sums. however, were not
snfficient to meet the demand and for.
a time there was -rrea't eonfusion and
was at its height the announcement
was made that a pool had been form
ed with J. P. Morgan at its head, to
come to the rescue of the brokers for
whom it was necessary to provide
funds at once in order that they
might c.arry the stocks they were
holding for their customers. The.
Morgan pool brought a sum of money
eamount.ing to about $25,000,000 to
the Ian coener of the exehonge where
0 Sr eeni. !el:s advanceJ nore 'o.,
ra:pidly than they had declined and it !.t
was only a few minutes until Union u
Pacifie. the -market le.ader. was sell- i*
inx at 105. Oth-r stocks were simil- in
ar,y affected and the rally was com- th;
plete. by
100 MTTBS AN HOUR.1
-- fa
Huge Speed Promised For British by
Warships.,
London Chronicle. de
The British admiralty has now un- ed
der consderation a new f;rm of ma- col
rine engine and propeller which. the -e0
inventor claims. will revolutionize tri
not only naval warfore. but the navi
~ation of the wh:oie worlid. .
The inventiin is the frait of much d
ingenuity, labor and expenditure on wi
the part of.Mr. F. Maltman of Red- fr
burn street. Chelsea. who has devote_d ti
to it years of study and experiment. e
At first si.zht the engine resembles a 0j
turbine. but closer inspection reveals
important differences. Steam from
any type of boiler is broniht to ,bear
upon a shaft fitted with .L2 chambers.;e
divided into two sets of six each.
Shaft and chambers are fll of steel, we
cast in one piece, and of great er
strength. Exactly what the arrange- Ge
ment of these chambers is the inven- $1.
tor deems -it imprudent at present to
disclose. but it is such tj4t the ad- 50
inssion of steam through the orifices
at their ends causes tie shaft to
revolve at a tremendous speed. 00
So great is the power of the new er
form of engine, indeed, that the in
ventor considers it useless to aily 001
it to the ordinary screw propeller
lest the terrific pace should result
in the formation ,of a complete or
partial vacuum in which the screw
would "race" without everting its a
propulsive force. He has accord
ingly devised a modification of the
screw propeller which will make a
return in speed, for all the power that De
can be applied to it.
,The screw has three blades, each ter
of t'he shape already fmiliar, but in- an
stead of being attached to one small Sa
hub, they are fixed at intervals of a ha.
ouple of feet from one another to a afi
long shaft. The result, of course, is woc
that each blade works in its own wat- sh<
er, instead of .in that through ~tus
which its fellow has cut but a moment er
before. The shaft is fitted with three an
of these dissected screws, each of pa
them with a larger orbit than the one
immediately in front of it, so that Br
when set slowly in motion it pres- E
ents to the' eye the effect of a huge edg
ork screw worming its way forward. yi
The shaft bearing the three screws
is fied immediately beneath the keel
f the boat, and runs parallel with it
and with the driving shaft and its 12 fi-r
chambers. This occupies so little
space that practically the only ma- S
ehinery in the body of the boat will a
be the furnace and boiler, and the He
inventor, therefore, believes'that in sm
the case of cargo vessels the device by
will have the adva.ntage of adding to me
the carrying c.apacity as well as of in
reasing the speed. It is, however, in
naval warfare that he expects for te
the invention the greatest immediate thi
utility. Up to now, the new system ab,
has been tried only on models upon a
the -Serpentine and the Thames, but fl
the speeds attained in the largest of fe(
these lead Mr. Maltman to believe st
that on a vessel with the size and er
steam power of a present day torpedo
boat it would yield a velocity of~ 100 bih
miles an hour. U
That, however, can only be deter- art
mined by experiments upon a larger sia
sale than has yet been possible, and p
e has accordingly applied to the ad- the
miralty for the loan of a hull aind a
boilers to which the new engine and an
proeller could be fixed at compara- ,a
tively slight cost, so that their utility
may be determined once for all. -an
pa
UtCLE AND NEPHEW a
IN SERIOUS FIGHT. Br
on,
Town Marshal Bedenabugh of Pros- em
perity and George 'S. Merchant 'his
Both Seriously Hurt.si
-- Br
Prosperity, Oct. 25.-In an alterea- an
tion between Town Marshal Beden- th*
baugh and Geo. S. Merchant, Beden- the
baugh was seriously hurt by a blow <hoi
by Merehant. Bedenbaugh shot twic" Fo
at Merchant. hitting him in the fore- loc
head. Merchant is not thought to be
seriously hurt. Bedenbaugh had his Br
skull crushed by the blow. There hase Th
been some feeling between the par- ee
ties. Bedenbaugh is Merchant's uni- tai
ele.-The State. sel
as
A man of letters onght to succeed let
for a sell, at last. - A
lre in the :history of he UTnited
Ites did her exports of farm pro
ets reach so large a figui as in the
Ca] year ending June .30, 1906. Do
(ie fan.n 7rducts xport-ed in
it year were greater than in 190
nearly $150.000.000. and exceeded
3 annual average for 1900-1904 by
30.000,000; and in the imports of
-m products in 1906 were greater
$125,000.000 than the annual aver
a for the five years just mentioned.
Df the 86 countries mentioned is
;tina>tions of farm products export
from the United States to 33 were
Iigned goods to the value of, at
st $1,000,000 each. while two coun
cs-the Uiited Kingdom and Ger
.;r--received more thin 60 per
.i i the,total exports of farm pro
<s all countries. Compared
i 190.5 the inerease in value of
Sprodnet conerned in 1906 to
:United Kingdo wa- 3->0,000.000;
rmany, $30.000,000; France, $15,
).000, and Belgium. $10.000,000.
N11ade than one-half of our forest
)ducts 'were sent to four countries
he United Kingdom, Germany.
therlands and Canada. The prin
al increases in .this. trade in 1906
re: United Kingdom, $3,000,000 ov
1905, but $1,000,000 under 1904;
rmany. $2.000,000 over 1905 and
000,000 over 1904, and Argentina,
000.00 over 1905 and about $2,
),000 over 1904.
rottfi-n exports' in 1906 exceeded
>se of the previous year by $20,
),000, while oil and oil cake in
ased $7,000,000 in two years, and
>acco exports fell off about $1,000,
) in the same time.
P. H. McG.
EORSE MEETS HIS MASTER.
an Didn't Want to be Shod and
Gave a Blacksmith a Hand
Tustle.
s Moines Register and Leader.
With eyes flashing, nostrils dis
Lded, eams laid back, mouth open,
i whiskers stanading sharply on end,
1an, a vicious horse, gave desperate
.tle with a blacksmith yesterday
arnoon. Satan determined he
uld not be shod; thie blacksmith
>d him single handed, but, in the
sle, had his 'left hand literaliy
ihed. Several bones were broken
I the smith suffered exerueiating
[he name of the smith is W. H.
own, a former trooper in Troop- D (
senthi Cavalry, who. w u.s disharg
here and ~book up his trade with
oman.
otan is a beauty; a little sorrel
ighing seareely more than 1,200
inds, plump and full of ginger and
satan has always rebelled savage
against the iron shoe. His very
ne was given him on this aeoount.
has never been known to let a
it shoe bim without being bound
leather straps unti.l he could nd%t
e. Brown is a wiry spldier, ereet
i solid.
atan was led in by a common hal
and tied to the ring in the side of
wall. With a great leather apron
>ut his waist, Brown took the shoe
I approdached Satan. Quick as a
sh the 'horse wheeled iand both
it shot into the spot where Brown's
mach was-bhut Brown was quick
in removing it.
'hen came into paly the sientifie
.ksmith 's tacties, picked up in the
ited States army, where bad horses
plentiful. Advancing to Satan's
e Brown was ready for the next
-ing and caught Satan sharply in
side with the point of his elbow;
painful. grunt was Satan's reply,
he iddled himself in surprise in
worner.
['he smith stooped to lift a hoof
1 Satan, without moving his fore
rts, deliberately twisted himself in
position to let fly one foot, but
own again escaped by springEig to
side; this time, however, the
ith trapped the fellow and caught
left foot before he had the leg
ffened. There 'was a struggle.
cown again approacihed the horse.
I ruelly pressed lown, eramping
leg so that Satan stood still, while
hot iron was pressed against his
f; then Satan's hoof was released.
r the first time he took a good
k at the man who dared.
When the shoe was ready to nail,
own aagin aipproached the horse.
e same tactics were adopted, ex
t that at the crucial moment Sa
, instead of merely twisting him
f, chonehed and jumped forward
far as his halt-er would allow and
fly his left foot twice so quickly
2+t it aat rown' b and each
!mught e~rippied land to ear t e
best ie could and forcing the little
sorrel in a corner deliberately cowed
him by the power of his eye and his.
nerve and nailed both shoes home.
Wh it was ove,r the smith was
wet with .perspiration and almost
fainting from pain. He was taken at
once to a physician, where his hand
wa, dressed.
Satan showed no more ill temper
but walked with his head down from
the building as though he were
ashamed.
Lady Warwick's Wbite Peacock.
Tit Bits. ..
The a,ricultural school which the
Countesz of Warwick founded in Es
se:: ten . ears ago. and whieb is to
: .1"or with cn account of lack
of ao:. was founded for the pur
l'oP. :]Vpplying a sound education
o., girls between, the ages of
1 : ' -.:io intended to follow rural
pursuits. Those who know how hard
Lhe countess has worked to make this
and similar schemes a success will
understand -her keen disappointment.
Outside her work, Lady Warwick
finds chief recreation in her garden
How to Remain Young.
To continue young in health and
strength, do as Mrs. N. F. Rowan, Mc
Donouh, Ga., did. She says: "Three
bottles of Electric Bitters ,cured me of
chronic liver and stomach trouble, com
plicated with such an unhealthy condi
tion of the blood that my ski- turned red
as flannel. T am now practically 20 years
younger than before I took Electric Bit
ters. I can now do -l my work with
ease and assist in mn.: husband's store."
Guaranteed at W. E. Pelham & Son's
Drug Store. Price Sc.
Saved Her Son's Life.
The happiest mother in the little town
of Ava, Mo, is Mrs. S. Ruppee. She
writes: "One year ago my son was down
with such serious lung trouble that our
physician was uliable to help him; when,
by our druggist's advice I began giving
him Dr. King's New Discovery, and I
soon noticed improvement I kept this
treatment up for a few weels when he
was perfectly well. He has worked
steadily since at carpenter work. Dr.
King's New Discovery saved his life "
Guaranteed best cough and cold remedy
by W. E. Pelham & -Son, Druggists.
Soc; and $r.oo. Tri Bottle free.
ceAre
The most corn
ware offered irl
Consist
GUNS Fox, L
them b
SHELLS Ou4
to us ti
We I
FARM FENCE ' feet El
- Poultr3
on the
DISC PLOWS Ae
art of ]
versibl<
NAILS A lar
Wece
LIMEables u|
than ti
CEMENT Alws
lot or I
Wer
DOORS .Weha
SASH W a
BLINDS Baluste
order o
A so]
TIN SHINGLES all. WI
WAGONS . -Pleni
for you
A ne:
BUGGIES the ma:
our lirn
prices.
No matter what
and y
pr'~i(.e in tiaeSe bJirdl. an 1I e:.d(I themn
with great care. There is one pure
white bird which never mixes with
the others. but stands aloof in "splen
did isolation.'
'e oldest man employed on the
estate savs his father could not re
member the time when it was not at
the castle, which would make it nearly
a century old at least. Although his
wonderful white lace tail is getting
GEORGIA9
Augusta, Ga., I
Various Attractior
Round Trip Excursion
Return from Point
V
CHARLESTON AND I
RAIL
At Rate of One First C1
(MIMIMUM Ri
CONVENIENT SCHEDULE.
Tickets on sale November 2
to arrive in Augusta prior to 1.
with final limit November 11,
Through Tickets on sale. at a
For further information, appl
E. W MATTHEWS,
Commercial Agent,
Augusta, Ga.
*ERNEST WILLIAM
Augusta,
Ieuedy to
lete and largest
this section, AID4
ing of the most reputable an<
C. Smith, Remington, LaF
>ught right.
ixtraordinary large assortmei
e ammunition trade of this e
ave just received another lar
ctrically Welded Fencing f<
. We have prices that make
rnarket.
y's Reversible Disc Plow. "I
low making. Avery's mak4
SPlow that is second to none
ge stock of all sizes. We ar<
arry nothing but the best, ai
to always have a fresirstoci
e cheap kinds.
ys in position to fill any larg<
ess.
eet all competition, give you
re the largest stock of this in
rs, Brackets, Glass, Doors,
n short time. We solicit you
id car load expected daily.4
en you use Tin Shingles you hr
y of White Hickory Wagons
t stock of reliable makes an
ket. We have recently add(
and can furnish you Rubber
you are offered
ou may buy it fo
Bras.1.
semuor Plzitt says that Ioot stands
a better chance for the presidency
than either Roosevelt or Hughes, but
everybody knows that the antique
Thomas is not the prophet that he us
ed to be.-Philadelphia Telegraph.
Do all the work you can; there are
lots of lazy men who will do the rest.
Too often a man's success leaves a
bitter taste in his mouth.
CAROLINA
lov. 4-9, 1907.
is and Amusements
Tickets to Augusta and
s in South Carolina
ia
VESTERN CAROLINA
,WAY
ass Fare, Plus 25 Cts.
kTE 50 CENTS)
FIRST CLASS SERVICE,
to 8, and for trains scheduled
00 p. m. November 9, 1907,
907.
11 Ticket Agencies.
y to your Ticket Agent, or
GEO. T. BRYAN,
General Agent,
Greenvifle, S. C.
S, Gen. Pass. Agent,
,Georgia.
Show Youi
stock of Hard.
)UR PRICES ARE RIGHT.
I reliable makes as Parket-,
ever and others. We have '.?
it and close prices has brought
ection.
ge car of the ."Pittsburg Per
>r Hogs, Horses, Stock and
the sales. No better Fencing
he latest production in the
Salways up-to-date. A Re-.
a prepared to fill your orders.
id our large lime trade en
E on hand. Not any higher
i order on short notice, car
.the goods at the righit prices.
the vicinity. Also Columns,
etc. Special sizes made to
ir nquiries.
ur prices within the reach of
we less danger, less insurance.
just received, we have one
.d ask for inspection when in
ad the Rubber Tire stock to
Tire Buggies at much lower
,get our prices,
r less.
,pe ..