30 Oct 1907
Page 1
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Newspaper
Albuquerque Morning Journal
Location
Albuquerque, New Mexico, United States of America
Date
Oct 30, 1907
Page
1
Financial circles report a steady rise in confidence after the close of last week while optimism remains high about the market outlook. Analysts note no faltering in the push toward stronger gains as investors track developments.
Roosevelt consults cabinet as largest sums on record are placed by the government with depositories. A currency shortage causes inconvenience though not yet serious. Pittsburg banks begin charging New York exchange. Westinghouse assures customers production remains uninterrupted as receivership is declared amid the national financial strain.
President Roosevelt met with his cabinet except Taft for over two hours to discuss the financial situation. Secretary Cortelyou, while not yet issuing a public statement, views the crisis with steadier calm and has directed substantial funds into national banks to ease public fears, with deposits totaling about 76 million since September and over 416 million current in banks, part of a broader effort to avert a treasury shortage.
The Farmers' and Merchants' Bank of Mount Ouenceant amid a town wide alarm was closed indefinitely today. Officials reported heavy cash losses and inability to meet obligations, with state comptroller and Washington notified. Capital listed at 500 000. K. Missens serves as president, M. Mullen as cashier.
New Orleans traders claim the south gains economically as cotton and sugar exports rise. Port activity reflects recovery with many ships and river craft bringing goods, while a months long strike dampens labor conditions. Banks in Mississippi Alabama Arkansas and Louisiana act to protect depositors amid uncertainty.
A late afternoon meeting of representatives from savings institutions reviewed the city's finances. The group reported the savings home system is strong but advised prudence in future lending and support for essential services.
Kansas banks in major towns enforce withdrawal limits from five dollars upward and require thirty days notice for savings withdrawals. Some southern banks fear Oklahoma currency demands due to a six day holiday. no statewide panic. Portland plans to reopen with clearing house certificates at seven percent interest while Salt Lake restricts withdrawals to one hundred dollars per check and two hundred weekly with thirty days notice.
Posten reports an uptick in grain exports prompting all steamship lines to advance rates on future bookings. Large bookings in recent days may lead to one or two tramp steamers chartered for shipments to ports not reached by regular lines from here.
Acting Governor Filkon proclaims six bank holidays from October 28 to November 2 to shield Oklahoma banks from New York currency refusals. Banks expect funds to flow once reserve centers move cash west, with merchants accepting clearing house certificates and rangers stationed for security as cotton harvest pressures cash needs.
Charles H. Deer head of the great plow works at Mol ine died in Chicago at 1 05 this morning after months of illness. Deer was born in Hancock Vermont in 1837 and had led the firm’s Mo line operations for years as a prominent industrial figure. Federal and local authorities continued to monitor tensions following a deadly shooting incident earlier that week.
Telegraph operators station agents and clerks on the Dunkirk Allegheny Valley and Pittsburg railroad have been notified of a wage hike from 5 to 15 dollars per month effective immediately. The line is part of the New York Central network.
The body of Charles German a black man accused of assaulting the farmer s young daughter was found hanging from a tree five miles from here. It was shot multiple times.
Eight socialist speakers and about as many sympathizers were arrested last night for street speeches. Mayor Moore bans meetings. Among those jailed is Mrs. Hattie P. Titus. Bail was refused and they were sent to the chain gang.
Omaha based Burlington and Northwestern railroads continue work despite inquiries about joining Union Pacific. General Manager Walters says they are too busy to quit and idle. Holdredge adds no extra funds will be spent beyond usual for winter. financial issues do not affect their operations.
The president has placed upon Secretary Garfeld the greatest part of the responsibility of selecting federal officials to be appointed in the new state of Oklahoma. He is giving most of his three to that duty. Cabinet members recommended salary increases for their assistants.
Riveters Petar to Work Valiojo Cal Oct 24. A union meeting with directors of the teaneport Slleridan led to all striking riveters returning to work today.
Arizona congress delegate Mark Smith said President Roosevelt's remark that Arizona could not gain statehood in the next Congress implied it could not be achieved at all. The statement came during a visit to Paso, Texas, where Smith voiced optimism or lack thereof regarding statehood prospects.
Francis J Heney addressed about three thousand voters in San Francisco urging re election of District Attorney William H Langdon. He raised his right hand and vowed to prosecute Patrick Calhoun between November and January with all his energy and ability, as he appealed to God for help.
In New York on October 9 Justice Downing denied motions to dismiss the forgery indictments against Robert A. Grannis former vice president of Mutual Life Insurance. Requests to dismiss on other grounds were made but no decision was issued.
Reported surge in Curupé credit due to a flood of exports from the Great American Staples line, with shipments pouring across seas and impacting regional trade conditions and balance of payments.
New York reports show American staples wheat cotton copper oil meats and tobacco boosting international credit. Tobacco exports may exceed 50 million pounds this year with Europe paying over 100 million dollars. November and December shipments begin.
The report notes no bank failures nationwide with 12,500 banks operating normally. It highlights that even minor bank failures are quickly noticed, while major institutions show no signs of unsoundness and foreign credit remains strong. The Trust Company of America logged deposits of 1,083,000 and payouts of 478,000, netting a 605,000 gain for the day, with 338 depositors.
Chicago bankers report a $2,000,000 gold shipment from London has been started to Chicago as payment for cattle grain and provisions. J Ogden Armour and James B. Forgan describe the move as easing money pressure and signaling higher European demand and strong grain prices.
In Rathdrum Idaho on October 29 the Steve Adams trial for murdering Fred Tyler made little jury progress. Eleven jurors sat with eighty talesmen subpoenaed since, as both sides conduct examinations and await arrival of lead counsel J H Hawley for the state and Clarence Darrow for the defense.
Mile Ragozinskaya who shot and killed General Maximoffsky, director of the interior ministry, was brought to St Peter and St Paul fortress and sentenced to hanging by court martial. Jamestown report notes Moody, a wealthy landowner, died from exposure. 15,000 in bank certificates found. Moody, about sixty five, poverty apparent.
The King and Queen of Spain arrived in London amid rain and were greeted at the station by the English royal family and the Spanish ambassador. They proceeded to Kensington Palace where they will reside during the visit.
The royal party will visit King Edward and Queen Alexandra at Sandringham next Monday. The article notes widespread public interest in the infant son of the Spanish king and queen. A Universalist church convention in Philadelphia opposed women’s enfranchisement and urged a uniform divorce law.
St. Petersburg reports the marriage of Prince Wilhelm of Sweden to Grand Duchess Marie Pavlova is delayed from this fall and now expected in April next year. The announcement notes no definite new date.
Edward Payson Weston, aged 69, plans to walk 1 230 miles from Portland to Chicago in twenty six days, matching a feat from forty years ago. He started at 5 o'clock with cheers from about a thousand spectators.
A man using the name H. B. Potter Jr. registered at the Waldorf Astoria and was found dead. Coroner Harburger says murder is certain, noting beating marks and a letter to his wife identifying him as an agent of the Michigan Commercial Insurance Company.
J Small former president of the Commercial Telegraphers Union announces the end of the strike and offers reinstatement with few exceptions, 10 day timeline to resume work, 10 percent wage rise to be honored, unions to reconvene in Milwaukee for further grievances, while Western Union and Postal operators resume duties in Springfield and Heeldead.
A Madison committee was formed to promote Senator Robert M La Follette for the Republican presidential nomination. The meeting drew about thirty Wisconsin Republican leaders to organize the effort and appoint an executive committee to direct the work.
In Berlin the notable Count von Moltke was condemned to pay costs of an action initiated against a socialist newspaper. The ruling underscores judicial penalties in press disputes within the German capital.
In Berlin on October 29 Maximilian Harden editor of Die Zeikunst was acquitted in the defamation trial brought by Count Kans von Moltke. The judge ruled Harden justified in publishing charges about a court clique and its influence on the emperor. Harden was cheered by spectators. Moltke bears trial costs. The case stirs political tension as socialist papers attack monarchy amid court influence claims.
Jenice William Joseph Preston Viscount Cormanston dies at Longen after a paralytic stroke on Saturday. Born in 1837, he was the premier Irish Viscount and never regained consciousness following the illness.
John Mitchell day was observed as a general holiday in Wilkes Barre and surrounding anthracite areas. Many meetings were held and prayers offered for the recovery of Mr. Mitchell.
Harry 8. New acting chairman of the Republican National Committee travels to Chicago to review the city’s plans for hosting the party’s next national convention. He will meet with Thomas P. Knight and will not pledge support until the committee meeting on December 6 to choose the convention site.
In San Francisco on October 29 the Ford bribery case nears its end as Assistant D A Heney says prosecution will conclude by 11 am tomorrow Abe Ruef is not to be called as a witness A new witness Robert H Peters testifies to shadowing Ruef to Ford office at United Railroads car barns on August 23 1906 the day Ford withdrew from the branch mint and the last 100 of a 200000 fund allegedly used to buy the trolley franchise
The Ute Indians pledge no disturbance while their representatives go to Washington to present grievances to the government. Chief Red Cap refuses to recognise Captain Downs orders on Ute children. Thunder Huttes camp hosts armed families as four cavalry troops from Fort Des Moines patrol the reservation. Captain Downs with twenty policemen await Captain Johnson of the Second Cavalry near the Cheyenne River area.
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