The herald and news. (Newberry S.C.) 1903-1937, October 29, 1907, Page THREE, Image 3
Willi, SIHEfcT SAriiLK '
'* i'VV 'v V' / v'' !" 'l'}Tv/\
iUtfi-ILj. i kiiLKj,
minor banks close in
HARLEM.
J. Picrpont Morgan and Other Financiers
Give Aid?John D. Lends
Money at Normal Rate.
- ? ,
New York, Oct. 24.?As a result uf
to-lay's developments in the financial
word fl.r-iv is every indication
that the crisis in tho banking and
trust company situation has heen
, safely passed. Tho Trust Company
of America all through the day's
hanking hours paid out money to de-*
poisitors as rapidly as possible, and
closed the day with all demands hav- i
ing been met. A very favorable feature
of I lie siUiailion respecting this
company was That it was able to mvake
its payments with very lillle assistance
and-another was that the com-1
puny received over its counter in the !
morning hours in ordinary deposits I
more than #1.000.00. Ii w.is liie general
impression in financial oiivies
that. 1 Iii- company havir,;. vvi;hs!'ii?d a
two days' run with little, trouble was!
undoubtedly in good condition con-I
time its business and ii> fad that I
company and its affairs were not pen- \
sidered as a. factor any longer in the!
general situation. As the Trust Com-!
pany of America had been the cen-'
tfir of the recent financial storm it j
was accepted thai the. ability it had I
thus i,hown to weather the storm was j
a clear indication that the financial '
sky had cleared and that a period of!
fair weather was now well in sight. i
Three Noteworthy Episodes.
The day was marked by three note-!
worthy episodes. First and earliest in i
the day came the announcement of I
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 business
and their suspension of payment '
was absolutely without significance
bearing on the general situation.
State Bank Examiner Judson, however,
declared this afternoon that all
? three were solvent and that their dc]>ositors
would lose nothing.
The second episode was a run inaugurated
against the Lincoln Trust
company. The run against this com-!
pany was steady throughout -the day, i
but the sums withdrawn were not I
large. At the close of the day I he
company's oflicials announced that
they were fully able to meet all obligations.
Millions Emptied in Market.
By far the most notable, even dramatic,
episode of the day was Ihe
emptying of millions of money into
the stock exchange through a pool
headed by J. P. Morgan and other
financiers in order to avert a ruthless
selling out of stocks held by
brokers which was 'threatened because
of their inability to obtain renewals
of loans on which these stocks had
been carried. A remarkable condition
brought 'about this extreme
stringency in money whicn had gradually
forced the rato up to an almost
unprecedented figure. Certain
large interest that great financial resources
had heen charging recently
was in effect, if not legally, usurious
rates of interest on oall loans. One
institution that had been engaged in
this practice was itself a member of
the clearing house and was severely
criticized by other bankers for its
action on the ground 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 on tho stock exchange.
The effect of this was to
run the rate for money today up to
100 per cent, and when that figure
wias quoted an extremely sharp deion
Pacific, a 10 per cent, stock, sellcline
resulted in the stock market, lining
down to par.
John D. Helps Out.
Notwithstanding the high rate for
call money that might have been obtaained
the National City bank, John
D. Rockefeller personally and other
prominent monied interests sent
funds lo Ihe stock exchange lo bo
loaned at the normal rates of fi p^r
cent. These sums, however, were not
sufficient to mi- the demand and for
a lime there was rrrea-l confusion and
hurried selling-of slocks on Ihe exchange.
At Ihe time that excitement
was at its height (he announcement
. was made that a pool had been formed
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 an order that they
mi edit carry the stocks they were
holding for (heir customers. The
Morgan pool brought a sum of money
amounting lo about $25,000,000 to
the loan corner of the oxchongo whore
?i; 1 s' ' - ?t l.i >"
' V. : :11 ! i I i \ . :
i it' < !! i t I I !'.i - ! c!i? i ii't :: iir
v. i< }us!a:x: i?i:?? ?. ? and : iti*.? at?. all
money dropped from 100 per cent,. to
Id per ci'iit. Sleeks advanced more 1>
rapidly limn tlioy had declined and it s
was only a few minutes until Union ,1
I'aeilic, llic iinarkel loader, was sell- |ini>"
ai 10."). 01 her stocks wore simil- lt
urlv at't'oeted and the rally was coin- (|
I'lcte. *
100 MILES AN" HOUR. 1'
/
r
Huge Speed Promised For British i,
Warships.^- a
London Chronicle. j
The British admiralty has now undor
consideration a new f;rm of marine
engine and propeller which, the i
invenior claims, will revolutionize j
not only naval warfare, hul the navi- ,
::al:o:i of 1 !? ;? whole world.
The invent i<u is lh<> frail of much ,1
ingenuity, labor and expenditure on -A
the part of Mr. I'\ \ra!tm:m of lied- f
hum street', Chelsea, wlio has devoted (
to il years of study and experiment. f
At first sight the onuine resembles a i;
turbine, but closer inspection reveals
important differences. Slcnm from
any type of boiler is bro-ivht to bear '
upon a sh:i11 filled with i2 chambers,
divided into two sets of six each.
Shaft and chambers are -ill of steel,
cast in one piece, and of irroat
strength. Kxaclly what the arrange- (
menl of these chambers is the invon- .t.
tor deems il imprudent at present to j.
di-clo?e. bul il i? such tM (he admission
of steam through the orifices
at (heir ends causes ihe shaft to
revolve at a tremendous speed.
So great is the power of I he now
form of enuine, indeed, dial I lie in- ,
veil I or considers il useless to apply !?
it to Ihe ordinary screw propeller
lest Ihe lerritic pace should result
in the formation #of a compleie or
partial vacuum in which the screw
would "race" without everting its <5
propulsive force. ITe has accordingly
devised a modification of I ho
screw propeller which will make a
return in speed for all the power that j
can be applied to it.
The screw has three blades, each t
of the shape already fniiliar, but in- a
stead of being attached to one small }>
hub, they are fixed at intervals of a 1
couple of feel from one another to a ;i
long shaft. The result, of course, is v
'hat each blade works in its own wat- s
er, instead ol in that through .|
which its I el low has cut hut a moment <
before. The shaft is filled with three a
of these dissected screws, each of j
them with a larger orbit than the one
immediately in front of it, so that j
when set slowly in motion it pros- j,
cuts to the eye the effect of a huge (1
cork screw worming its way forward, a
The shaft bearing the three screws
is fixed immediately beneath the keel
of the boat, and runs parallel with it
and with the driving shaft and its 12 J
chambers. This occupies so little
space that practically the only ma- j
chinery in the body of the boat will ,
be the furnace and boiler, and the i
inventor, therefore, believes that in s
the ease of cargo vessels the device j
will have the advantage of adding to ,
the carrying capacity as well as of in- ?
creasing the speed. It is, however, in
naval warfare that he. expects for (
the invention the greatest immediate
utility. Up to now, the new system f
has been tried only on models upon .
Ihe Serpentine and the Thames, but 'j
the speeds attained in the largest of f
these lead Mr. Mailman to believe s
that on a vessel with the size and j
steam power of a present day torpedo
boat it would yield a velocity of 100 j
miles an hour. ^
That, however, can only be determined
by experiments upon a larger s
scale than has yet 'been possible, and s
he has accordingly applied to the ad- (
mi rally for the loan of a hull and f
boilers to which the new engine and ji
propeller could be fixed at compara- ,j
tively slight cost, so thai their utility
may be determined once for all. ?
UNlCLE AND NEPHEW
IN SERIOUS FIGHT. \
Town Marshal Bedenabugh of Pros- I
perity and George ' S. Merchant .j
Both Seriously Hurt. s
Prosperity, Oct. 2;").?In an alterca- .
lion between Town Marshal Beden- j
baugli and fleo. S. Merchant, Beden- (
ha ugh was seriously hurt by a blow ,|
bv Merchant. Bodenbnugh shot twic.- |
at Merchant. hitting him in Ihe fore- ]
head. Merchant is not thought to Ik
seriously hurt. Bedenbaugh had 'his ]
skull crushed by tlio blow. There lias '
been somo feeling between the par- (
ties. Bedenbaugh is Merchant's un t
cle.?The State. v
A man of letters ought to succeed 1
for a spell, at least. ^
A 1 '
IKh B$?Y />Ji.v ijMI-.-:, W &K.
' - - ^ - -ipo-.l '!VYr. Largest
j\!jOWU.
\i as!ii11uIun, Otl-'.her 2J. Never
-'lore in the history of the I'nitod
Iatos did her exports of farm pronets
readi so large a figure as in tlie
iscal year ending June .'10, l!H)li. Domestic
iaum ifroducts exported in
liat year were greater than in Jf)()
y nearly $1;>0,000.000, and exceeded
lie annual average for 1000-IDlM by
100,000,000; and in the imports of
arm products in 100(5 were greater
y $1'J5,000,000 than the annual averse
for the live years just mentioned.
Of the 80 countries mentioned as
est illations of farm products exportd
from the United States to 3!} were
onsigned goods to the value of. at
r.st 1.000.000 each, while twocounrics?the
I nited Kingdom and (Jer' j.ev
received more than (iO per
:l - i' the-total exports of farm proacts
'.i :t!l countries. Compared
iiii 1905 the increase in value ul
a:"'i product* con- i n 11 in 1900 In
lie l .iited Kin-jdum wa - $50,000,000;
iermaiiv, $.>0,000,000; France, $15,.
00.(100. and liel.nium. $10,000,000.
Made than one-half of our forest
roilacts were sent to four countries
- the t uifed Kingdom, (Jermany,
-etherland-< and Canada. The prinipal
increases in this trade in 100(i
ere: I'uited Kingdom. $:i,<>00,000 ovr
1005, but $1,000,000 under 1<?04;
lerniany, $2,000,000 over 1005 and
1,000,000 over 190-1, and Argentina,
J.ilOO.Ot) over 1905 and about $2,00,000
over 190-1.
Cotton exports in 1900 exceeded
hose of t'lu> previous year by $20,00.090,
while oil and oil cake inivaseil
$7,000,000 in two years, and
itbacco exports fell off about $1,000,00
in the same I ime.
l\ 11. McO.
HORSE MEETS HIS MASTER.
Satan Didn't Want to be Shod ant]
Gave a Blacksmith a Hand
Tustle.
>cs Moines Register and Leader.
With eyes flashing, nostrils disended,
oai^ Laid back, mouth open
ml whiskers standing sharply on end
>atan, a vicious horse, gave despera.t<
initio with a blacksmith yesterday
ifternoon. Satan determined h<
vould not be shod; the blacksntill
hod him single handed, but, in tin
ussle, had his left hand literally
rushed. Several bones were hrokei
iiid the smith suffered exciiic.iatinj
>ain.
The name of the smith is W. 11
irown, a former tiwpor in Troop I)
Eleventh Cavalry, vviio \\.,s di.s.harg
d here and took up his trade will
,'roman.
Satian is a beauty; a little sorre
weighing scarcely more than 1,20(
onnds, plump and full of ginger an<
ire.
Satan has always rebelled savage
y against the iron shoe. Ilis von
lame was given him on this account
Te has never been known to let ;
mith shoo -him without being bonne
?y leather strajw until he could no
nove. Brown is a wiry soldier, orec
ind solid.
Satan wa? led in by a common hal
er and tied to the ring in -the side o
lie wall. With a great leather aproi
ibout bis waist, Brown took the sho
invi approached Satan. Quick as i
lash I-He horse w] moled /and botl
'eet shot into the sj>o( where Brown'
itoinaeh was?but Brown was quick
;r in removing it.
Then came into -paly the scientifi
dacks-mith's tactics, picked up in tin
/iiited States army, where bad horse
ire plentiful. Advancing to Satan'
;ide Brown was ready for the nex
ipring and caught Satan sharply ii
lie side with the point of his elbow
1 painful grunt- was Satan's reply
mid he huddled himself in surprise ii
i corner.
The smith stooped to lift a boo
md Satan, without moving his fore
>arts, deliberately twisted himself ii
i position to let fly one foot, bu
irown again escaped by springnig t
me side; this time, however, th
imith trapped the follow and caugh
lis left foot before he had the lo^
ilififencd. There was a struggle
-iTOvn again approaohed the horsr
mil cruelly pressed down, cram pin;
lie leg so that Satan sl-iod still, whil
he hot iron was pressed against hi
mof; then Satan's hoof was released
['\>r the first time ho took a gooi
ook at the man who dared.
When the shoe was ready to nail
Irown aagin approached the hors<"
rho same tactics were adopts!, ex
opt. that at the crucial moment Sa
an, instead of merely twisting him
;olf, choiiehed and jumped forwari
is far as his halter would allow am
et fly his left foot twice so quickl;
$wit it caught Brown's hand oac
jii? \ . ' iv, i-n,<!
!.< < I It.M ' I n:
| ! % ask* ;uis helper to
i ta!\< v-;. i ail ?!. ;? 11. I in* plui*ky !? !!*? \\ ,
111*?m.u 11 ill*.* crippled hand lt? bear tho
best he could and forcing the little
sorrel in a corner deliberately cowed
him by the power of his eye and his(
j nerve and nailed both shoes home.
W In .1 ij was over the smith was
wet with perspiration and almost
fainting from pain. lie was taken at
once to a physician, where his hand
wadressed.
Patau showed no more ill temper
but. walked with his head down from
the building as though he were
I ashamed.
Lady Warwick's White Peacock.
Tit Hits.
The agricultural school which the
Count< of Warwick founded in Ksse\
;? ! *<?ars ago. and which is to
jb' .i for with (ii account of lack
j l; . was t'ounded for the purj
I " " applying a sound education
! girls between the ages of
i 1 ? * : ' .i? intended to follow rural
j pursuits. I'hose who know how hard
I the co intess has worked to make this
and >imilar schemes a success will
II understand her keen disappointment.
, j ' 'iii-ide her work, Lady Warwick
: Iiii-U chi.'l reclamation in iter garden
How *o Remain Young.
| To continue young in health and
I I strength, do as Mrs. N. I<\ Rowan, Mc
,1 Douough, Oa., did. She says: "Three
bottles of Ivlectrie Hitters cured me of
i chronic liver and stomach trouble, cottiI
plicated with sueli an unhealthy condi|
j ti'?u of the blood that my ski" turned red
j as flannel. I ain now practically 20 years I
, younger than before I took JClcctrie Rit
. tors. I can now do all my work willi
| ; case and assist in my husband's store."
j Guaranteed at \V. Iv. Pelhain Son's I
Drug Store. Price 50c.
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
I with such serious lung trouble that our
physician was unable to help him; when,
by our druggist's advice I began giving
him Dr. King's New Discovery, and f
soon noticed improvement. I kept this
treatment up for a few weeks when be
. 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 I
j hy W. K. Pclham & Ron, Druggists.
7 50c. and $ 1.00. Trial Bottle free
I
.j The most com
ware offered ir
1 i 1
Consist
J GUNS Fox, L
1 them b
. SHELLS Our .
7 to us tl
I We \
I FARM FENCE ' feet El
t Poultry
on the
[ DISC PLOWS Avel
e art of i
| versibl
l NAILS a lai
LIME . fe c
c ables u
I than tl
J CEMENT Alwj
1 lot or
DOORS Wer
SASH We ha
f BLINDS Balasti
order c
t A so
.. TIN SHINGLES all. W
0
1 WAGONS 1>len
for yoi
A ne
? BUGGIES 'the ma
^ our 1 in
! prices.
No matter what
1,
and y
"(I I: ' 'I ' I : \ I l' 111' I' \ l'i' Ml-:
' ' i:'' >?;' ' !i>" \< r mus'. he i!' !';i
e >1 >w .1 - ;'i
ie ' 11 .r :'!l ! ; f. r i Mi! > ;i! W.u \\\r\
<'astlr. ).nd\ Warwick I.ikes im-nei'-e
pride in these birds, and ler.ds them
with jtt'i'iil care. I here is one pure
white hird whieh never mixes with
the others, hut stands aloof in ''splendid
isolation.''
'Hie oldest man employed on the
estate says his I'atlier could not ivmember
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 j^ettin^
DKMHnnBBnMHMMUHMMBBHMUMBHBKI
GEORGIANS"'
Augusta, Ga? I
Various Attraction
Round Trip Excursion
Return from Poinl
v
CHARLESTON AND l
RAIL
[ At. Rate of One First CI
(Ml Ml MUM R
| CONVENIENT SCHEDULE,
Tickets on sale November ^
to arrive in Augusta prior to 1
with final limit November 1 1,
Through Tickets on sale at;
For further information, app
E. W MATTHEWS,
Commercial Agent,
Augusta, Ga.
ERNEST WILLI AlV
Augusts
plete and largesl
i this section, AND
ing of the most reputable an
. C. Smith, Remington, Lai
ought right.
extraordinary large assort me
le ammunition trade of this
lave just received another1 la:
ectrically Welded Fencing i
j. We have prices that mak<
market.
*y's Reversible Disc Plow. *'
Plow making. Avery's mak
e Plow that is second to nom
rge stock of all sizes. We ai
;arry nothing but the best, a
s to always have a fresh stoc
le cheap kinds.
ays in position to fill any larg
less.
neet all competition, give yo
ve (he largest stock of this ir
ers, Brackets, Glass, Doors,
>n short time. We solicit yo
lid car load expected daily,
hen you use Tin Shingles you h
ty of White Hickory Wagons
i.
sat stock of reliable makes a
rket. We have recently add
e and can furnish you Rubbe
you are offeree
ou may buy it fc
1 , ...
\ ' 'lill. lie \ ; V r ?11
,11"
. . . .
Senator f'liilt sav> thai standi
| a better ehanro lor tlir presidency
I llian either lit lose ve 11 ?ii' Hughes, but
'everybody knows (lint (lie autiquo
Thomas is not the prophet that lie used
to lie.-? Philadelphia Telegraph.
Do all tin- work you can; there arc
i lots of la/.y men who will do tlio rest.
] Too often a man's suc?'< s> loaves a
j hitter taste in his mouth.
-CAROLINA
to. 4-9, 1907,
is and Amusements
Tickets to Augusta and
:s in South Carolina
ria
NESTERN CAROLINA
.WAY
lass Fare, Plus 25 Cts.
ate 50 cents)
FIRST CLASS SERVICE.
E to 8, and for trains scheduled
.00 p. m. November 9, 1907,
1907.
all Ticket Agencies.
ly to your Ticket Agent, or
GEO. T. BRYAN,
General Agent,
Greenville, 3. C.
IS, Gen. Pass. Agent,
i, Georgia.
; stock of HardOUR
PRICES ARE RIGHT.
d reliable makes as Parker,
?ever and others. We have
nit and close prices has brought
section.
rge car of the "Pittsburg Pernor
Hogs, Horses, Stock and
3 the sales. No better Fencing
The latest production in the
e always up-to-date. A Re'e
prepared to fill your orders.
,nd our large lime trade enk
on hand. Not any higher
;e order on short notice, car
li the goods at the right prices,
l the vicinity. Also Columns,
etc. Special sizes made to
ur inquiries.
Our prices within the reach of
iave less danger, less insurance.
; just received, we have one
nd ask for inspection when in
led the Rubber Tire stock to
r Tire Buggies at much lower
I, gel our prices,
>r less.
<: - \ ^ i ^