The herald and news. (Newberry S.C.) 1903-1937, November 05, 1907, Page SEVEN, Image 7
MONEY SITUATION.
Runs on Banks and Trust Companies
Are Over?Gold Coming to
New York.
New Orleans, Nov. .1.?'Secretary of
Whe Treasury Cortelyou .wired today
V.'whal the treasury department can nut
^transfer money from London to New
^Orleans as suggested by cotton exporters
here. The plan was to have
i -cash deposited with fiscal agents
abroad and immediately upon such deposit
to draw cash at the sul) treasury
here.
x Situation Clearing.
^ Now York, Nov. 1.?'The fina.icial
; V. nation was gradually clearing tojwAiay
without showing any striking feaKUures.
linns on the ibanks and trust
f ^Vompanies are practically over, money
KfV.Jhich was temporarily withdrawn
Itf'rom banks subject to runs is flowing
|/nto the stronger banks and currency
Efts going in most cases where the defAinand
is considered legitimate. Fur^
rher engagements of gold by Boston
't^and other points, have brought up the
total engagements abroad under the
(' reent movement to $2(5,000. Tiie
Lusitania, which sailed from Liver- j
pool today, has on board about $10,-1
[l 000,000 in gold, one of the largest sinife^le
shipments ever made. Prices on
* X\)e exchange were linn during
early part of the day and did not
?j',\|d seriously at any time. The fact
K:.aat the slock exchanges of London
Vand Paris* were closed on account of
P All -Saint's day prevented any eoniI
pferison of quotations or arbitrage
il operations.
Balances at the clearing house
have settled down 'to a normal condi?wtion
but there is still something of a
MRW,vkade in domestic exchange
'' fl ou^'h 'be unwillingness of New
jmteVk banks to pay currency on drafts
^ lujn other cities and the unwilling 'f's
of other cities to pay out their
^Kf'rrency upon drafts from New York,
^ .' he condition of affairs indicates a
continued pressure for currency ratli
or Mian a breakdown of credits, but
I reasonable demands are being met for
V regular customers of the banks. The
I possibility of hastening the export
movement of wheat and cotton si ill
engages the attention of foreign exchange
dealers and also of those who
endeavor to keep in touch with the
?neral situation. Doubt is expressed
\vhether the secretary of t.he treasury?
will be aOle to carry out on
any considerable scale the project of
the New Orleans exporters for accepting
cash at government fiscal agencies
abroad and the transferring it
by telegraph to points in this counItry.
But Secretary Cortelyou is understood
to be willing for such deposwits
of public money at cotton exportii1,
points as will to a considerable
ei>it relieve the strain.
ftTON CROP DETERIORATES.
York Journal of Commerce FigHes
Indicate that the Crop is
65 Per Cent Picked, as Compared
with 56 Per Cent
Last Year.
NTew York, October ML?The Jour1
of Commerce will tomorrow publi
its monthly cotton crop report
npiled from reports of 1,-100 cor pondenls
of average date of OeTJie
report will s'liiw that cotton
( orated 4.1 points during the
of October.
'.e recent flalveston storm was
.1, and apparently unimportant as
the cot ton crop.
This decline makes the.condition of
:> unpicked crop (52.4, as compared
th a condtion of (54.4 in 190(5, 'when
'erioration was 7.5 points. The de?ie
in 1005 was I ..'5 points, and in
was (5 points, but in 1004 it im|v?d
1 ,(i points.
M.on is (55 per cent, picked, comi'i
with 50 per cent last year, 0!)
iveni in 1005, 7(? per cent in 1.004,
per cent in 1003.
i vo largest decline occurred ' in
I' is and Louisiana, where the conrl'j;
in fell 5.0 points and (5.2 points
If'actively, due largely to t'he boll
? ?i 1 and somewhat to rains. The
''an Territory and Oklahoma are
\fi '? on'y sections showing improve) ?)
t, rising 1 and 4.4 points rei
I Hrosl caused deterioration in near'/.B'AXiI
other states, insect damage bc'0.1((^insignificant,
except in Texas,
if ly ^atia and 'Arkansas, where the
1 ml \veevil took ipractically nearly all
'JP,i ;oP crop. The reports from all
states give no hope of a late
11, frosts having put an end to
Wjiier maturity.
/fpo crop is generally being mark/jB'nV
as fast as ginned, but up to the
/'ML of these reports there Avas a
wlV stron?or tendency to hold for,
M. Mr prices than in former years. I
(^^^l^eather was almost ideal during 1
t!u' moilth, giving a high grade staple.
Picking was uninterrupted, witli the
!t ihat although the season started
so late, the percentage gathered
exceeded last year's figures by nearly
10 per cent.
North Carolina shows a decline of
1 points during October, in condition I
to 78.
South Carolina i< :L'I'lower, at 70.}).
Georgia 2..') lower, at 77.
Flodida 10.2 lower, at 00.5.
Alabama 5 points lower, at 70.2.
Missis*iippi il.O lower, at 01)..'3.
Louisiana (5.2 lower, at (>7.7.
Texas ">.!) lower, at :*>;{.(>. *
Arkansas 3.3 lowei1, at 00.3.
Tennessee 3.0 lower, at 71.-J.
Missouri 3.2 lower, at S0.0.
The Indian Territory improved one !
point to 0S.3, and Oklahoma 1.1. to
07.0.
The precontage picked <>;) October
24th, by states, i$ as follows: North I
Carolina 02: South Carolina 71; Geor-'
gia Of); Florida OS; Alabama 01 ; Mississippi
00; Lonsiana 00; Texas 77;
Arkansas (5-1; Tennessee -IS; Missouri
">ti; Indian Territory 17; Oklahoma
13, making the average (?."?.
GOLD FOUND IN GREENVILLE.
Expert Locates Seven Rich Veins on
Farm Near Fountain Inn.
(In e.iville, Ociober 31.?Seven rich i
vein-' of gold have been discovered
on a i.i'iit about one mile from Fountain
Inn. in (his county, and about)
eighteen miles from this city. The |
announcement was made today by Dr. j
Ceo rue l'\ Leo, a geological expert I
and minora logi>1who spent three!
days in cxaininim the metal. The |
veins are thought to bo about sixty i
feet deep and the mine will be the
richest, in the sitate and probably in
the south, Xircom, mona/.ile. kaolin
and rutine were also found on the property.
The deposits extend over 270 acres,
all of which 'belong to two well known ;
citizens of the county. A stock com-|
pauv will the formed at once to mine !
the metal.
APPEAL TO GOV. GLENN.
j
Wilmington Business Men Urge
Equitable Adjustment of Rate
Controversy.
\YiIming'ton, N. C., October 31.?
Fifty leading merchants, manUfae,
hirers and business men of this city
I tonight telegraphed Governor Glen':i,
of'North Carolina, now in Atlanta,
Ga., for the purpose of considering
wit h the governors of two other states
railroad litigation in !he south, the
following message, which he has been
ro<|ues'tcd to read at t'l\o meeting:
" Southern crops are plentiful and
Southern commercial and industrial
conditions never intrinsically sounder.
Agitation has ruthlessly depressed
lvalues, causing congestion and inabil-*
lily |o move crops with expedition.
( Restoration of confidence essential
for the south to realize full values
! for its great products. We believe it
is in tno power ol. the conference to
| restore eoivfideuce in n great measure
! by an equitable adjustment of the
1 rate controversy. The south can save
| the situation by wise action at this
juncture. You are appealed to as
patriots and statesmen who "have
deeply at heart the well being of tli?
whole people."
COL HUNT'S SUCCESSOR NAMED
J. C. Lusk, of Atlanta, to bo Located
In Charleston.
Washington, October 111.?The following
announcements were officially
made by the Southern liailwya today:
li. W. Hunt, division passenger
auenf, Charleston, S. promoted to
]iosition of assistant general passenger
agent, Atlanta. Ga. J. C. Lusk, division
passenger agent, Atlanta, Ga.,
transferred to Charleston, S. ?0., to
snceeod Mr. Hunt, dames Freeman,
division passenger agent, Jacksonville,
Fla., transferred to Atlanla, Ga.,
to succeed Mr. Lusk. J. NT. Harrison,
Western passenger age.it, Houston,
Texas, transferred to Jacksonville,
Fla., to Succeed Mr. Freeman. A.p- '
point moms effective Novemlhor 1st,
1007.
I'. IT. McG.
KNOXVILLE GOES DRY
Ono Hundred Saloons Were Closed
There Last Week.
Knoxvil'le, Tenn., October ill.?
More than one hundred saloons in
KnoxvilJe closed tonight as a result of
the application of the Pendleton law,
by which cities of Tennessee can
reincorporate without 'having the saloon.
The city is quiet and whiskeys
are not being sold at any price. The
people voted on the law by special
legislative enactment last March.
THE NOTABLE EVENT OF 1907. S
THE SECOND ANNUAL
GEORGIA-CAROLINA 5
FAIR i
fi
The great Two-States Exhibition at Augusta, Ga.
NOVEMBER 4-9 1
Agricultural and Industrial?County, Club and Individua m
Exhibits of the resources of Georgia and South Carolina.
Over $4,000 in Premiums?Great Exhibition of the newest
and most advanced Farming and Agricultural Machinery.
For the first time in the South the great labor-saving Cotton
Picking Machine will be in operation daily during the Fair.
MagnificenfDisplay of Poultry and Pet Stock?the greatest ~
ever exhibited in the Southland.
Great Cotton Parade?$500 in Special Prizes.
Splendid display of Cattle and Live Stock. j
Attractions and Amusements?First United States Artillery
Band, the finest in the South engaged especially for this occasion
at a cost of over $1,500.
ne Running. Trotting and Pacing Races for large Purses. F
Over $4,000 in Purses. ?
The j reatest Football Game of the Season?University of p
Georgia vs Clemson College. Special Trains. j_
A variety of Free Amusements, including "Dare Devil v
Doherty."
Free Balloon Ascensions?Twice Daily. n
The Largest and Finest Midway ever brought South. a
Remember the Dates, November 4 to 9. ^
Ijow Mates F'rom. A.11 Points. 0
For Further Information apply to
FRANK E. BEANE, Secretary, Augusta, Ga.
v
(CONDENSED)
STATEMENT \
?OF? | t
THE COMMERCIAL BANK OF NEWBERRY, S. C., under
call of State Bank Examiner at close of. business
September 17, 1907.
RESOURCES.
Loans and discounts - $406,831 16
Overdrafts 5,653 08
Furntiure and fixtures - - - - 3,116 93
Cash and sight exchange - 42,172 36 (
$457,773 53
LIABILITIES.
Capital Stock $ 50,000 00
Undivided profits (less expenses paid) - 49,484 84
Dividends (unpaid) 1,030 00
Cashier's checks - 103 88 v
Due Banks 858 38
Bills payable 20,000 00 c
Individual deposits 336,296 43
f $457,773 53
JNO. M. KINARD, Pres. O. B. MAYER, Vlce-Pres.
J. Y. MoFALL. Cashier j
4 Per Cent. I
Interest Paid in our Savings Department.
CALL ON ]
Irooiiis I Ruff ,
' AT TIIE H ij
HERALD & NEWS j
I Box Paper, |
I Tablets, Pencils, |
I Pens arid Ink, jl
h Soaps, 1J
I Fine Extracts, If
1 j &c., &c. I
I In fact anything you need along that line. 1
j CIGARS AND TOBACCO, |j
1 Don't forget to call on them. |j
I They are also agents for Columbia Steam |j
\
*
I
/
tatement of the condition of The Exchange Bank of
Newberry, S. C., Sept. 17th, 1907, in response to
call of State Bank Examiner.
illjv receivable ?219,605 64 ' Capital stock $50,000 00
verdrafts .r>,iSo 75 { ^>lirl)'us *6,460 74
. i Cashier's Checks 269 84
x llv- 1 Dividends unpaid 87 50
ash on hand and due j HiHs payable 75,"00 00
0111 other Banks $ 10,193 92 Deposits 106,799 15
$238,617 23) $238,617 23
Watch lis grow. We pay 4 per cent, interest in our Savings Departcnt
compounded Semi-annually.
HIE EXCHANGE BANK
D. Davhnpout, GKO. B. CROMKR, M. I/. Sri-:AKMAN,
President. Attorney. Cashier.
\V. B. Wai.i.ack, Asst. Cashier.
OSTO. essxt.
[lie People's National Honk
Prosperity, S. C.
'aid Up Capital - $25,000 00
Jurplus and Individual Profits $6,000 00
stockholders' Liabilities . . $25,000 00
ror protection of depositors.
I. C. Moseley, President. M. A. Carlisle, Vice-President
/. W. Wheeler, Cashier. Geo. Johnstone, Attorney.
Better a conservative interest on your deposit with its safe
sturn when wanted, than a high rate and a feeling of doubt
bout the principal.
A National Bank is a safe Deposit. Government supervision
lakes it so. Likewise our Board of Directors is a guarantee
f prudent conservative management.
DIRECTORS:
G. W. Bowers. W. P. Pugh.
J. A. C. Kibler. Jno. B. Fellers.
R. L. Luther. W. A. Moseley.
M. A. Carlisle. Geo. Johnstone.
J. H. Hunter. H. C. Moseley.
J. P. Bowers.
/Ve allow 4 percent, per annum in our Savings
Department, interest payable semi annually.
YOUR BANKING!
THE NEWBERRY SAVINGS BANK.
Capital $50,000 - Surplus $30,000
No Matter How Small, No Matter How Large,
The Newberry Savings Bank
vili give it careful attention. This massage
ipplies to the men and the women alike.
JAS. McINTOSH, J. E. NORWOOD,
President. Cashier.
The first Cougb of tke Season,
Ivven though not severe, has a tendency to irritate the sensi .
tive membranes of the throat and delicate bronchial tubes. _
Coughs then come easy all winter, every time you take the
5 slightest cold. Cure the first cough before it has a chance to ^
set up an inflamation in the delicate capillary air tubes of the ??
^ lungs. The best remedy is QUICK RKI,IKK COUOII V
^ SYRUP. It at once gets right at tin; seat of trouble, and re- ^
moves the cause. It is free from Morphine and is as safe tor ?
y a child as for an adult. 25 cents at ^
I MAYES' DRUG STORE.
EVERY ONE DOESN'T INHERIT MONEY, i
j| Some have to dig, and dig hard, for their j j
ji share But if you will utilize our Savings De- j. j
i| partment and lay up a portion of your earn- < |j
j ings you will soon have an "inheritance' of t |!
[j your own. Open an account in this Bank to- j [j
[j day and take a step upward. !j []
j Today's prudence is tomorrow's pleasure. ; 1)
The Bank of Prosperity,
j Prosperity, 8. C. [ I
j Dr. Geo. Y. Hunter, Pres't. Dr. J. S. Wheeler, V. Pres. ? 1
| J. F. Browne, Cashier. J. A. Counts, Asst. Cashr. j j j