New York Banker At Center Of Bond Price Slump
Secretary McAdoo accuses financiers of conspiring to defeat the new currency law. The charge ties a New York banker to the low prices of U S bonds amid national financial policy debates.
29 Jul 1913
Page 1
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Newspaper
Albuquerque Morning Journal
Location
Albuquerque, New Mexico, United States of America
Date
Jul 29, 1913
Page
1
Secretary McAdoo accuses financiers of conspiring to defeat the new currency law. The charge ties a New York banker to the low prices of U S bonds amid national financial policy debates.
A division among Republicans shows as about a dozen progressives press a La Follette Cummins led push to craft substitute tariff schedules. They seek strong support for reductions and plan to rally other Republicans and some Democrats behind a progressive tariff alternative.
July 28 Nogales reports the gunboat Tampico destroyed by an airplane bomb over Guaymas harbor. Aviator Didier Masson reportedly made three passes before the hit. Governor Ignacio Pecquieta learned of the insurgent victory while en route north and met Jose Maytorena in Nogales to discuss elections or transferring government duties.
General Velx Dias is due in San Diego aboard the Virginian with plan to depart for San Francisco and then Japan as a special envoy thanking the Japanese government for the 1910 Mexican exposition. War officials consider a Mexican refugee camp near Point Loma to house hundreds of refugees and detainees under cavalry escort if moved from border areas.
At Guaymas Mexico on July 28 the insurgent investment resumed with a second column to push forward under cover of darkness. The front includes about 2,000 men half Yaqui and federal gunboats shelled insurgent positions all day. French aviator Didier Musson announced another bomb run on warships.
Point Isabel Texas July 28 A Mexican federal gunboat reportedly fired on constitutionalists at the mouth of the Rio Grande this morning. Constitutionalists held Matamoros twenty miles up the river opposite Brownsville Texas. This was the first report of naval activity on the river in the recent Mexican revolutions.
Wagle Tass Tex July 28 reports from Piedras Negras constitutionalist HQ say rebels have laid siege to Saltillo, Coahuila capital, with heavy fighting under way. Among twelve prisoners delivered to Piedras Negras by constitutionalists is Avellino De La Fuente, brother of Huerta minister David De La Fuente. The prisoners include Nadaderes town officials charged with edition, a death-penalty offense.
El Paso July 28 General Francisco Castro reports a column under General Pascual Orozco has been sent from Chihuahua City by the Mexican Northwestern rail line to Madera to combat bandits menacing the Madera Lumber Company and constitutionalists supported by General Francisco Villa. Orozco will move to Juarez after pacifying the Madera district.
London reports from Daily Sketch that police have received information of a suffragette plot against King George. The story notes July 2 indicates heightened concern and possible security measures.
Milwaukee police hunted the man described as weighing 40 pounds and known as Gibraltar Horatz. He was arrested in Janesville on a Milwaukee warrant for abandonment of his family. After weeks of failed transfers, a special reinforced ambulance carried Horatz the 140 miles from Jonesville to Milwaukee without incident.
Webster Springs West Virginia July 25 G Rivedes member of the lower branch of the West Virginia legislature was found guilty of accepting a bribe in the contest for United States senator State Senator Ben A Smith and Delegates Hath Duff and Erih Asbury have also been convicted and face sentences on the same charge
Denver July 28 Involuntary bankruptcy proceedings were filed in the U S district court against the Laramie Poudre Reservoir Irrigation Company capitalized at 5 1 million with a franchise to irrigate 125000 acres in Colorado stockholders petitioning alleging mismanagement of affairs no insolvency charge made in the petition
Miners in Calumet and surrounding districts resume pumping at Hancock and nearby mines but most strikers stay idle. Militia presence spurs rallies and a large demonstration at Painesdale led by Nina Groga. Rail crews report workers leaving copper country towns and freight moved toward iron fields. Western Federation of Miners petitions Governor Ferris urging union-employer talks.
Whitefish Montana July 18 Great Northern fast mail No. 2 west bound wrecked east of Rock Hill. Engineer Peck L. Forcum and Fireman Cal Smith both of Whitefish killed. Express Messenger Lamb injured but expected to recover. Cause of the accident not yet determined. Engine left the rail and overturned with a mail car pinning it.
Washington report on Secretary McAdoo blaming New York banks for pressuring government two percent bonds as a currency bill debate unfolds. He says bonds remain worth par, notes the banks hold most bonds, expose potential market impact, and urges banks to avoid selling at a loss while avoiding forced action.
At Chester railway station Sussex suffragettes rushed the king with a petition. Police seized the women and, at the king's request, released them afterward.
The New Orleans Cotton Exchange protested the proposed federal tariff bill stating hedging is essential for the cotton market. It warned that if the tax on cotton futures becomes law, the coming crop could incur losses totaling up to 400 million dollars.
Mrs Mary Armstronson, a 15 year old who vanished from Iola during her honeymoon, reappeared at the home of J T McCord amid claims of coercion by her husband Harvey Dean. She says she fled with McCord willingly following a violent quarrel and parental pressure to marry. The sheriff interviewed her at Independence after a mid journey halt.
After two nights of quiet, firing resumed at 9 pm with shells landing near the foreign settlement. A Portuguese bey was mortally injured amid crossfire as rebels target the settlement in vengeance for Shanghai volunteers disarming troops. Foreign detachments patrol all settlement boundaries as ships shell rebel positions. The fighting lasts about three hours with northerners holding their ground.
General Muang Sipe backs north south separation and moves three thousand troops toward Nanking and Yangchow may threaten Tien-Su. Northern forces press on Nanking while rebels disperse after Hu-Kow forts. Foreign consuls note volunteers guarding Shanghai and U.S. Navy reports show rebel plotting and Japanese interference amid fragile loyalties.
The rebels claim a strategic victory by destroying regional bridges hindering General Chang Haun’s north to south passage. They state the action will complicate the movement of his northern forces and slow the southern push.
The proclamation from Shanghai dated July 28 accuses Yuan Shi Kai of unconstitutional maneuvers after the bankers loan and the murder of General Sung Chiao Jen. It states Kiang Si and other provinces joined to overthrow Yuan while urging Europe and the powers to halt funding and end the war.
Haunkow July 28 Rebels have dispersed southward from the Hu Kow forts on both sides of the lake while northerners pursue the retreating forces.
Bardwell Kentucky July 28 May Copeland testified she fired the shot that killed Hugh Atchison wealthy farmer while her sister widow of the murdered man disputed the murder claim saying they were in separate rooms with a wall and iron stove between them Lucien Turk son in law of the victims is linked to the case Turk’s father is among Western Kentucky’s wealthiest men Both Miss Copeland and her fiancé are jailed as the hearing drew a large crowd in the court yard due to local prominence.
In Walldert near Heidelberg the 150th anniversary of John Jacob Astor’s birth is celebrated. The town recalls his humble start in his father’s shop before he moved to America in 1788 to build the fortune. Vincent Astor and William Waldorf Astor have boosted the alms foundation with 12,500 dollars each.
Samuel Franklin alias Samuel Ware and Fad ward Loud, alleged leaders of white slave agents, with women of questionable character, were arrested by federal agents near Harrisburg and jailed in Dauphin county. Authorities call their plot the most atrocious white slave scheme the government has faced in years.
Ambassador Wilson urged recognition of Huerta with conditions but Washington hesitation remains. A Mexican peace plan seeks to replace Huerta with a provisional president and cabinet, aiming to stabilize finances and garner foreign loans while avoiding U S mediation for now.
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