Banks Face Cash-Only Rule Under Aldrich Bill Changes
National banks could be closed by the Controller of the Currency if they fail to meet demand obligations. The proposal would force banks to issue more circulation, potentially ending Clearing House certificates. Senators and officials dispute the plan, seeking relief through emergency circulation and receivership provisions.
MENTIONED IN THIS ARTICLE
New York Times
Washington
Aldrich Financial
Aldrich
Clearing House
American Bankers” Association
Senate
Cortelyou
New York
Tillman
Bailey
Aso
W A Clark May Testify In Sherman Law Probe
Washington January 20 Attorney General Bonaparte confers with the President as the Department of Justice prepares to file Sherman act proceedings against the Union Pacific merger. Ex Senator William A Clark of Montana is expected to be the principal witness against E H Harriman, detailing how Harriman seized control of the San Pedro Los Angeles Salt Lake Railroad, once built by Clark as an independent line.
MENTIONED IN THIS ARTICLE
New York Times
S$hington
Bonaparte
Department of Justice
Union
Pacific Merger
William A
Montana
E. Harriman
System
Clark
Farriman
San Pedro, Los Angeles
Salt [Lake
Army War College Plans Fast War Readiness
President Wotherspoon told the House Naval Affairs Committee of a scheme by the Army War College to transform the nation to a war footing at instant notice. The plan seeks a large aggregate appropriation in the Army Appropriation bill to fund a military course enabling 300000 to 400000 troops to be deployed quickly, with secrecy requested for conference details.
MENTIONED IN THIS ARTICLE
Washington
Wotherspoon
Army War College
House Committee On Naval Affairs
War College
United States
Congress
Vhy College
Government hearing on Philippines church damages
Secretary Taft and Judge Advocate Hull testified before the House Insular Affairs Committee on claims by the Catholic Church in the Philippines for up to 2.5 million dollars for damage by U.S. troops in the Spanish war. Taft urged limited payment noting the church’s weak finances and possible U.S. generosity. The board recommended 363 thousand dollars, but no decision was reached.
MENTIONED IN THIS ARTICLE
Washington
Taff
J. A. Hull
Department of the East
House “‘Committee On Insular Affairs
Taft
United States
Retary
Philippines
Railroads File Complaint Over Terminal Rates
Central Railroad Company of New Jersey Philadelphia and Reading Company and Baltimore and Ohio Railroad sue New York New Haven Hartford Railroad before the Interstate Commerce Commission. They allege discrimination in terminal facilities and through routes in New York Harbor. They seek equal terms with the Pennsylvania and Lehigh Valley railways.
MENTIONED IN THIS ARTICLE
Central Railroad (Company of New Jersey
Philadelphia & Reading Company
Balltimnore & Ohio Railroad Company Today
Inter- State Commerce Commission
New York, Newstaven & Hartford Railroad Company
Jcpmyped
Pennsylvania Railroad Company
Lehigh Valley Railway Company
New York Harbor
Pennsylvania
Lehigh Valley
Custom House Case Closed Under Treasury Action
Secretary Cortelyou told Congress the old New York Custom House property was paid for in full. He transmitted a letter to Speaker Cannon stating the final payment of 50000 dollars was made November 7, 1907 and the deed delivered concurrently to the National City Bank.
MENTIONED IN THIS ARTICLE
Washington
Secretary of the Treasury
Cortelyou
Cannon
Custom House
New York City
National City Bank
Roosevelt Denials of Patronage Use Emphasized
The anti Taft faction blocks nominations seen as Taft campaign favors. Fairbanks Pension Agent in Concord NH is rejected after NH senators failed to agree. White House denies patronage is used for Taft. explains Fairbanks choice followed NH consultations with Churchill and Streeter. Massachusetts Republicans debate patronage as Lodge negotiates with Mansfield and Duff.
MENTIONED IN THIS ARTICLE
New York Times
Washington
Senate
Taft
Jis
Charles W. Fairbanks
Concord
N. H
Gallinger and Burnham
New Hampshire
Ohio
Hanna‘‘old Guard
White House
Fairbanks
Boston
Maine
Mr. Fairbanks
Winston Churchill
Gen
Frank Streeter
Streeter
Churchill
Massachusetts
Bay State
Mansfield
Duff
New Bedford
Lodge
Fewer Japanese Coming As Immigration Drops In 1907
Washington reports show Japanese immigration to the United States fell in December 1907 by 2,234 compared to December 1906. Officials view the drop as evidence that springtime immigration restrictions are effective.
MENTIONED IN THIS ARTICLE
Washington
America
Immigration Bureau
Canadians at fault report on Oriental labor influx in Canada
Ottawa reports that W L McKenzie King presented to Parliament a commission finding the Japanese government acted in good faith to limit immigration. It says the April departure of the Japanese Foreign Office loosened restrictions due to pressure from the Canadian Nippon Sully Company backed by the Canadian Pacific Railway and other interests seeking Japanese labor.
MENTIONED IN THIS ARTICLE
Ottawa
Ontario
W. L. McKenzie King
Canada
Canadian
Nippon Sully Company
Canadian Pacific Railway
Tokio
National banks and deposit guarantees questioned
Washington January 20 W B Ridgely Controller of the Currency sent a letter to Kansas Governor Hoch clarifying the status of National banks guaranteeing deposits in other banks. He notes courts have limited such guarantees to actions tied to selling or transferring the bank’s own property and endorsing notes the bank owns.
MENTIONED IN THIS ARTICLE
Washington
W. B. Ridgely
Gov. Hoch
Kansas
Oklahoma
Naval Prizefight Inquiry Opens on Cumberland
On board the training ship Cumberland Newport R I January 2 the inquiry into the prize fight between apprentice D M Manning and apprentice Hartnet was held with Commander James H Oliver Major William H McKelvy Assistant Surgeon Harry F Hull and Recorder Edward T Austin. Witnesses testified about the Tuesday night fight on board the Cumberland which ended in Hartnet s death Manning remains under arrest awaiting Navy Department action.
MENTIONED IN THIS ARTICLE
New York Times
Newport
R. L
Cumberland
James H. Oliver
William H. McKelvy
Harry F. Hull
U.S. N
Edward T. Austin
D. M. Manning
H. A. Hartnet
Harrnet
Manning
Se Ee
Navy Department
New York Man Seeks Restrain on Panama Bond Allotment
Justice Gould denied a restraining order sought by George W. Austin of New York to stop Secretary Cortelyou from allotting 210 in Panama Canal bonds to certain National banks. The ruling was issued in the Supreme Court of the District of Columbia.
MENTIONED IN THIS ARTICLE
Fai S
Panama
Washington
George W. Austin
New York
Secretary of the Treasury
Also Mentioned on This Page
Bass, Ratcliffe & Gretton, Ltd
Burton-on- Trent
England
Bass Breweries
Bass & CO
Warren St
Grand Rapids
6Th Ave
Cor
Doctor Sheffield
Shiffield Dentifrice Co
New London
Conn
Park &Tilford
Europe
Layties Brothers
U.S
E Bradley
N.Y
Times Square
Dr. . Lyon
McCreary
Kentucky
House
Bartholdi
W. A. Clark
Harriman Lines
Catolics
New Haven
Hoskins
Columbia
The
Globe“Werniche Co Froskin
Broadway
Leonard
Worth St
Lord & Taylor
19Th St
Roosevelt
Brill
Chambers
Union Square
B’way
Harlem
425Th Street
3D Avenue
47 Cortlandt
Greenwich
Japan
Iceete
James McCutcheon & Co
5Th Avenue
34Th St
Waldert Astoria
Controller Ridgely
Board
Harriet
Louis Tracy
Edward J. Clode
Linner
34Th Street
35Th Street
Stern Brothers
West Twenty-third Street
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