Telegrams Move McReynolds Papers to House Probe
Washington June 27 All correspondence in the McReynolds postponement cases will be sent to the House. McNab claims additional letters not in McReynolds report to Wilson. Resolution debates stall over quorum and potential inquiry into the delays and related actions.
MENTIONED IN THIS ARTICLE
New York Times
Washington
McReynolds
Carpinetti
Inges
Bruce
Mitch
House
Tax
New York Times Today
McNab
San Francisco
Caminetti- Diggs
J. McReynolds
Wilson
Representative Kahn
Representative Himbaugh
Judiciary Committee
Thomas FE. Hayden
Columbian Case Collapses In Federal Court
In a sudden turn in the Columbian Sterling Publishing Company case in Federal District Court Judge Mayer directed the jury to acquit Eugene B. Yates and Sidwell after the government failed to proceed without J. Braunton Haynes who fled to Europe. The remaining counts against Frank Orff and J F B Atkin were quashed or are under review with arguments scheduled for this morning.
MENTIONED IN THIS ARTICLE
Eugene B. Yates
the Sidwell
Columbian-Sterling Publishing Company
Federal District Court
Frank Orff
J. F. B. Atkin
Orff
Atkin
Columbian Sterling Publishing Company
Philadelphia
Yates
Sidwell
Western Publishing Company
Columbian Magazine Publishing Company
I T
Hampton's Magazine
J. Braunton Haynes
Post Office
Europe
Haynes
Mayer
Country banks oppose new currency bill in strong terms
In letters from bankers across Indiana dated June 27, Meienes Fane of Pontiac and Livingston Co National Bank president O O Bourland condemn the measure as impractical and dangerous. Myron Campbell of South Bend National Bank backs reserve city notes, while Claude S. Kitterman of Cambridge City and L. Link of Bush County National Bank warn the bill will force small country banks to surrender charters.
MENTIONED IN THIS ARTICLE
Oo. P. Bourland
Meienes Fane
Pontiac
Livingston Co. National Bank
South Bend
Ind
Reserve Bank
Myron Campbell
South Bend National Bank
Cambridge City
Claude 8S. Kitterman
First National Bank
Bushville
L. Link
Bush County National Bank
National banks face derailed plans under new currency bill
Flint analyst John J. Carton President of the National Bank of Flint warns that few national banks in Michigan would be organized under the proposed currency law and many would convert to state charters. He argues country banks needs were ignored according to the published summary.
MENTIONED IN THIS ARTICLE
Flint, Mich
Michigan
John J. Carton
National Bank of Flint
Banks See Little Benefit in New Currency Law
A series of letters from Waterloo Iowa to Hastings Nebraska critique the proposed currency law. Bankers including T Dodge, E H Rich, A L Clarke, Ced W Cook, and S S Burnham warn the plan harms reserve cities, constrains loan funds, and threatens charter viability for country banks. They predict withdrawals and possible surrender of national charters if enacted.
Rediscount policy urged for country banks
Rochester hears call to base rediscount privileges on longer maturities of about forty five days. The cash reserve requirement of five percent, as currently shown, is questioned and a surrender of the present stance is suggested pending further study.
MENTIONED IN THIS ARTICLE
Rochester
Minn
Charter opinion in Duluth telegram withheld
GOODING Minnesota is reported on June 27 as not ready to give the opinion requested in a telegram. The exchange national bank is cited in the fragment, with partial wording indicating hesitation or pending decision on the matter.
MENTIONED IN THIS ARTICLE
Duluth
Minn
Ir Exchange National 4Ia
Currency law criticized by banker Herman Erb
Appleton Wis June 27 Herman Erb expresses opposition to the proposed currency bill saying it would contract capital and harm the nations banking system. He urges extending the Aldrich Vreeland act with necessary restrictions until the new currency law is improved.
Country banks warn on proposed currency law
Atchison Kansas June 27 B P Wagnanger president Exchange National Bank says small country banks cannot operate profitably under the proposed currency law and may be forced to denationalize or reorganize under state laws. Wellington Kansas June 27 E B Rose president National Bank of Commerce replies that rediscount privileges are unsustainable as a forty five day limit is too short for farming, dependent on wheat or corn and harvests uncertain.
MENTIONED IN THIS ARTICLE
Atchison, Kan
B. P. Waggener
President Exchange National Bank
Wellington
Kan
E. B. Rose
National Bank of Commerce
Boise
Idaho
Country Bank
Co. W. Moore
First National Bank
North Yakima
Wash
W. L. Steinweg
Redlands
Cal
H. H. Ford
Redlands National Bank
North Dakota banks resist short rediscount period proposal
In Fargo on June 27 E. J. Weiser argues that 45 day rediscount facilities would be of little value to North Dakota banks, which typically need 3 to 4 months to place paper. He adds that if the currency bill passes as proposed, many national banks in the state would convert to state charters.
MENTIONED IN THIS ARTICLE
Fargo
N. D
North Dakota
E. J. Weiser
First National Bank
Aberdeen banker argues currency law limits country banks
Aberdeen D. June 27. C Bassett, president of Aberdeen National Bank, says the proposed currency law offers little advantage to country banks. He criticizes the re discount proposal as limited, the paper running too short, and not profitable, predicting many banks would abandon their national charters.
MENTIONED IN THIS ARTICLE
Lincoln
Neb
SS. H. Burnham
First National Bank
Eaberdeen
8. D
C. Bassett
Aberdeen National Bank
Brunswick banker fears bill would burden country banks
From the acerae and south. Georgina, Brunswick Ga June 27 If correct the bill in its present form would prove a burden rather than a benefit to the country banks and should it pass without material amendment many of them would no doubt reorganize under state charters Fe MASON, iagore National Bank of Brunswick.
MENTIONED IN THIS ARTICLE
Brunswick
FE. H. Mason
Iagore National Bank of Brunswick
Reserve Bank
WV. G. Harding
First National Bank
Banker Comment on Rediscount Paper Length
J Elwood Cox president of Commercial National Bank in High Point North Carolina argues a forty five day rediscount paper is too short for Southern bankers. He endorses the National Monetary Commission recommendations from January 1912 over the current proposed law.
MENTIONED IN THIS ARTICLE
High Point
National Monetary Commission
J. Elwood Cox
Commercial National Bank
Kentucky bankers doubt benefit of proposed currency law
Frankfort message dated June 27 argues that country and small city banks would gain little from the currency bill. Charles E. Hoge, president of State National Bank, says banks would need commercial paper to justify purchases. Danville notes 0 percent reserve and limited rediscounts, arguing tying up capital for small returns offers no practical advantage to well managed country banks. Farmers National Bank references similar concerns.
MENTIONED IN THIS ARTICLE
Frankfort
Charles E. Hoge
State National Bank
Danville
Farmers National Bank
Growth of Southern crops financed by collateral notes
In Birmingham on June 27 readers learn that growing crops in the South are financed by collateral notes running four to six months. The crop movement in the fall demands large accommodations averaging ninety days. The rediscount privilege links to the currency bill though the introduction seems of little value to Southern holders of notes.
MENTIONED IN THIS ARTICLE
Birmingham
Alt
Johnson Passes For France On Ticket From Chicago
Montreal dispatch reports Jack Johnson the Negro pugilist and former slayer, plans to sail to Havre next Sunday aboard the Allan Line steamer Corinthian. Authorities doubt extradition will reach him. he travels with Lucille Cameron Johnson and faces immigration scrutiny.
MENTIONED IN THIS ARTICLE
Montreal
Jack Johnson
United States
Europe
Department of Immigration
Chicago
Havre
Dominion
Atlantic
Illinois
Canada
Johnson
Lucille Cameron Johnson
Allan Line
Corinthian
Johnson Deportation Hurdle In Canada
Ottawa dispatch reports the Department of Immigration decided that Jack Johnson, the boxer, cannot be deported as an undesirable alien since Canada had not been entered as an immigrant but as a traveler. Immigration lacks jurisdiction over travelers passing through the country on their way between foreign nations.
MENTIONED IN THIS ARTICLE
New York Times
Ottawa
Department of Immigration
Jack Johnson
United States
Canada
Can't Catch Him Chicago Hears
Jack Johnson, a prisoner at Leavenworth on a white slave charge, escaped capture after sending word to Chicago authorities that he had secured a through ticket to Europe. Canadian authorities could not seize him, as his route left U S jurisdiction, avoiding extradition.
MENTIONED IN THIS ARTICLE
Johnson
Choquet
New York Times
Chicago
Jack Johnson
Leavenworth
United States
Charles F. Dewoody
Department of Justice
Washington
Montreal
Europe
New York
Grand Trunk
Eight-Notch Man Dies in Chair
Eddyville Ky June 27 General May executed in electric chair for murder of Belle Meredith of Clay County after he killed her husband He had served as Deputy Sheriff and survived a past altercation in which he was shot twelve times The pistol bore eight notches marking killings in his career
MENTIONED IN THIS ARTICLE
Eddyville
May
Belle Meredith
Clay County
Meredith
General
National banks weigh state charters amid currency concerns
In letters from Anniston Alabama, M B Wellborn of the First National Bank argues that country banks do not need stock in reserve banks and prefer ample currency in panics, while Harding cites no appeal of rediscount privileges and suggests caution on new charters. He notes current New York facilities are adequate and warns against excess credits if more credit facilities arise.
MENTIONED IN THIS ARTICLE
Anniston
Ala
New York
M. B. Wellborn
First National Bank of
Opinion on country banks subscribing to reserve banks
Gadsden Alabama letter quotes S McGaughy vice president First National Bank arguing that country banks should not subscribe 20 percent of their capital to reserve banks. He notes a forty five day paper discount limit would bar rediscount since most country bank papers run four to eight months.
MENTIONED IN THIS ARTICLE
Gadsden
Ala
Reserve Bank
S. McGaughy
First National Bank
Zick expresses trust in legislators on currency laws
Independence Missouri June 27. B Zick Jr states willingness to trust lawmakers and believes currency legislation will be for the nation’s best interests.
MENTIONED IN THIS ARTICLE
Independence
B. Zick, Jr
First National Bank
Opinion Delayed Pending Authenticated Bill Copies
In Lake Charles on June 27, Calcasieu National Bank declines to express an opinion until authentic copies of the bill are received and thoroughly investigated.
MENTIONED IN THIS ARTICLE
Lake Charles
Calcasieu National Bank
Beaumont
Texas
John C. Wardesident
First National Bank
Proposed currency law drawn comments by bank leaders
Alexandria and Baton Rouge voices analyze a proposed currency bill noting it impractical for country banks yet expressing cautious approval of its general principle. They support regional banks to decentralize finance but flag concerns over rediscount limits and cash reserves. Joe Gottlieb of Louisiana National Bank urges retained charters.
Banks split on 20 percent reserve rule and rediscount plan
In Weatherford and Beaumont Texas on June 27 comments express objection to the 20 percent capital reserve requirement for national banks and to proposed rediscount privileges. Statements favor maintaining the current system with minor amendments and advocating emergency currency based on commercial paper. Further notes from Sherman Texas say currency measures in Congress offer little benefit to country banks.
MENTIONED IN THIS ARTICLE
Weatherford
Texas
S. Fant
Esident
First National Bank
Banks critique currency bill in telegrams from Oklahoma Mississippi
In Muskogee end of June D N Fink president Commercial National Bank Mississippi argues the central bank board should include bank representation and criticizes a forty five day rediscount limit as useless for Southern bankers tied to crop maturities. He also calls 20 percent capital investment and large cash reserves excessive, and notes the state charter law would not appeal. Aberdeen Mississippi comments follow.
MENTIONED IN THIS ARTICLE
Beatrice, Neb
Central Reserve Bank
Nebraska
Ced. W. Cook
Beatrice National Bank
Muskogee
Okla
D. N. Fink
Commercial National Bank
Half a Day in New York Half a Day in Chicago
The Pan Handle Limited departs at 12 04 today and arrives in Chicago at 12 55 tomorrow. The train offers through sleeping cars and Kansas tail steel. Pennsylvania Railroad.
MENTIONED IN THIS ARTICLE
New York
Chicago
Kachetail Steel
Pennsylvania Railroad
Ilvanie
Cincinnati
Pennsylvania Station
Hudson Terminal
Pittsburgh
Pitaburh
Aed Hodson
Ser Mercantile
Lea
Hudson T
Aeennsylvania Ion
Club Alte Coenen
M. Lea Ivania
Cary
Cash reserves and rediscount limits hit country banks
Canton Miss June 27 J C McFarlane Jr cashier First National Bank argues against Glass Owen bill citing 10 percent cash reserves as excessive and rediscount limits four five days as useless for South banks. Priestley notes limited short term paper and opposition to reserves.
MENTIONED IN THIS ARTICLE
Canton
Miss
C. S. Priestley
First National Bank
Rediscount plans stir banker warnings across states
Pendleton Oregon bankers warn rediscount limits favoring paper with forty five day terms would hurt country banks and push capital needs. Oregon and Montana presidents echo concerns that six to twelve month farmer loans would lose benefits, risking withdrawal from the national system. Idaho banker adds that rediscount would force forty five day paper shifts and prefers national bank status only if costs stay reasonable.
Critics Assess Proposed Currency Law Across States
Letters from W L Steinweg Centralia Washington S G Gilchrist Redlands California and H H Ford Redlands National Bank argue the proposed currency law is slow rigid and flawed. They contend it will not aid country banks or deliver elastic currency and may push banks toward state charters or political control.
Hearings Open On Money Bill In Washington
Washington June 27 Hearings on the money bill were held with officials noting that the Federal Reserve Board will not be expanded by banker additions. President Wilson’s policy of common counsel will guide the handling of less important details.
MENTIONED IN THIS ARTICLE
New York Times
Washington
Federal Reserve Board
Wilson
Women running fake matrimonial bureau arrested in Jamaica
Mrs. Jeanette Foster and her daughter Laura Mayers, long regarded as respectable, were seized by federal agents at 27 Willow Street Jamaica L I for using the mails to run a fake matrimonial bureau. They pleaded guilty and await the September grand jury, with fifty decoy letters and varying sums of money traced to victims nationwide.
MENTIONED IN THIS ARTICLE
Jeanette Foster
Laura Mayers
Willow Street
Jamaica
L. L
United States Post Office
Federal
Washington Street
Brooklyn
United States
Cahoone
Louis R. Beck
Warren B. Ashmead
Ashmead
Mrs. Foster
Post Office
C. M. Brown
Brook
Ahmead
Cahoone Yesterdy
Brown
J. E. Mea
Senate to Open Hearings on Government Currency Bill
Senator Owen announced that the Banking and Currency Committee will start hearings on the new currency bill at the end of next week. Bankers’ written answers are in, with oral examination anticipated. Owen supports direct government control and rejected minority banker representation on the governing board. Chairman Glass argued against exclusive government control and warned it could alienate bankers, noting the Supreme Court and other commissions appoint leaders. he said at least one banker would serve on the board.
MENTIONED IN THIS ARTICLE
Owen
Banking and Currency Committee
Senate
Glass
House Banking and Currency Committee
Supreme Court of the United States
Supreme Court
Interstate Commerce Commission
Sees Hope in Currency Bill
George M Reynolds president of the Continental and Commercial National Bank returns from Washington with faith in a practical currency bill. He highlights two key issues: presidential appointment of all Federal Reserve Board members and the issuance method. Reynolds welcomes refunds from 2 to 3 percent Government acts and reserve requirement changes as favorable, and expects further refinements, noting President Wilson views the board as a parliament rather than managerial body.
MENTIONED IN THIS ARTICLE
New York Times
Chicago
George M. Reynolds
Continental and Commercial National Bank
Washington
Federal Reserve Board
Reynolds
Wilson
Currency Reform in Congress editorial insight
The Inter-Ocean editorializes that the Glass Currency bill is too political and lawyer driven, lacking banker and business support. It urges House to grant public hearings to hear bankers and business leaders nationwide to uncover fatal objections and ensure the bill functions without disruption.
MENTIONED IN THIS ARTICLE
New York Times
Chicago
Congress
Inter-Ocean
Ers
House
Wilson
Enac Ct
Currency Bill questioned by Prof Scott in Akron speech
Prof William A Scott of the University of Wisconsin told the Northern Ohio Bankers Association in Akron that the new Currency Bill merges investment and commercial banking in a dangerous way. He warned it could inflame inflation and threaten note issuance. He objected to the Federal Reserve Board gaining powers to compel banks and to other provisions he described as risky.
MENTIONED IN THIS ARTICLE
Akron
Ohio
William A. Scott
University of Wisconsin
Northern Ohio Bankers’ Association
Scott
Federal Reserve Board
Federal Board
Nelson Page to Give Up Writing as Ambassador to Italy
Washington June 27 Thomas Nelson Page the new ambassador to Italy will abandon his literary work while abroad and focus on his post He plans to study Latin literature and reflect its romantic qualities in future writings He reads Italian and is learning to speak it fluently He has three books nearly ready a volume of essays a long story he calls almost a novel and a two year history of Washington
MENTIONED IN THIS ARTICLE
Washington
Thomas Nelson Page
Italy
Drexel daughter fails to meet pope during Rome trip
Mother Katherine Drexel, Philadelphia born daughter, returned from Rome aboard the Cedric. She sought an audience with the Pope, but he was too ill to receive visitors. She departed last night for Cornwall-on-Hudson.
MENTIONED IN THIS ARTICLE
Pope
Mother Katherine
Drexel
Philadelphia
Cedric
Rome
Cornwall-on-Hudson
Henry Bacon Wins $100,000 Lincoln Memorial Contract
Henry Bacon of New York City is named the government winner for supervising the Lincoln Memorial Monument project in Potomac Park Washington. He will receive about $100,000 for his work.
MENTIONED IN THIS ARTICLE
Henry Bacon
Washington
New York City
Lincoln Memorial Monument
Potomac Park
Mr. Bacon
Buried Alive in Far Rockaway Sewer Job Rescue
John Burns of Corona Long Island was buried beneath sand while connecting sewers in Far Rockaway. Firemen from Engine Company 204 and Truck 134 freed him after a half hour, he was treated at St Joseph's Hospital for a broken leg internal injuries and shock, with recovery hoped.
MENTIONED IN THIS ARTICLE
Far Rockaway
John Burns
Corona
L. I
Burns
St. Joseph's Hospital
New Assistants Appraisers Named for New York
President Wilson sent to the Senate the names of Frank S. Terry and James Fay as Assistant Appraisers of Merchandise at New York. Terry, an old seafaring man, publishes The Master Mate and Pirate. Fay, of Saugerties, has thirty years in antique furniture and decorating in New York City.
MENTIONED IN THIS ARTICLE
New York Times
Washington
Wilson
Senate
Frank S. Terry
James Fay
New York
O'Gorman
Fay
Redfield
John J. Fitzgerald
Daniel J. Griffin
Brooklyn
Terry
Broad Street
Saugerties
New York City
Connolly Attack Claims Halloran Suit In Divorce Row
In a bitter public exchange, J Connolly accuses Halloran of malice in an alienation suit and implicates political enemies in attempts to ruin his character. Halloran replies that Connolly and others damaged his home and finances, while denying the allegations and urging a court judgment after full review.
MENTIONED IN THIS ARTICLE
Halloran
Cassidy
Mr. Connolly
Connolly
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M’nab
M’reynolds
the Times
Attorney General
Wilman
Will
Matt L. Sullivan
Pacific Coast
Sullivan
Times
Ena
McClatchy
Lane
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Union Pacific
White House
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Iowa
Waterloo
Dodge
General Reserve Rd
E. H. Rich
Hastings
A. L. Clarke
Minnesota
Gooding
Wisconsin
Appleton, Wis
Aldrich-Vreeland
Herman Erb
Kansas
South Dakota
Georgina
North Carolina
Kentucky
Alabama
France
Bryan
The
Judge
State Department
Missouri
Louisiana
Alexandria
Baton Rouge
Joe Gottlieb
Louisiana National Bank
Sherman
National Bank
Oklahoma
Mississippi
Aberdeen, Miss
South
J. C. McFarlane, Jr
Oregon
Pendleton
Ore
W. L. Thompson
American National Bank
Oregon Bankers’ Association
Montana
Helena
Mont
T. C. Power
Centralia
Capeet
Barc
S. Gilchrist
Aeroet
California
Federal Grand Jury
Bankers
Danger IN Federal Board
Prof
W. A. Scott
Nelson Page
Rocky Mountain
Colorado
Efile Riel
Broadway
Cor
Madison
F. S. Terry
Royal Estate
Selters
Niederselters
Habicht, Braun & CO
Hudson & Laight
Kewanee Owners
Care Kewanee
Kewanee Ibsiler Company
N. Y
West
J. Connolly
Halleran
Pullman
Oliver T. Boyd
Pamenger
Fifth Avene
29Th Street
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