Nine Banking Bills Passed in Senate as Debate Roils Chamber
The Albany Senate approved nine of twenty one banking reform measures urged by State Bank Superintendent Clark Williams. Key items include transfer of supervision to the Superintendent, expanded reserves, and tightened capital for trust and savings banks. A lengthy skirmish erupted among Senators Armstrong Smith Cohalan Grady and others during the session.
MENTIONED IN THIS ARTICLE
Tribune
Albany
Senate
Clark Williams
State Bankeng
Ion
Genstor Grady
Gress
Armstrong
Smith
Cohalan
Grady
Gracy
Aeplyman Green
Banks
Onaer
Allds
Utica
Faines
Bank
Pa Utanimou
Davis
Bank lawmGation
Manhattan
Canal engineers answer critics on barge canal progress
In its annual report to the Legislature the advisory engineers in charge of barge canal work defend progress and urge consideration of canal length, vested rights, and local impact. The report notes many borings and surveys, and that work has extended over three calendar years with ongoing evaluations of alignments and alternatives.
MENTIONED IN THIS ARTICLE
Munici
Four Appropriation Bills Introduced By Assemblyman Merritt
Four appropriation bills were introduced by Assemblyman Merritt. Two bills fund canal improvements and two support highway projects. The measures allocate funds to canal debt payment, canal sinking fund, highway sinking fund, and interest on highway debt for the first year.
MENTIONED IN THIS ARTICLE
Assemblyman
Merritt
C2ne l Ce
Orc
South and Western Compromise Suit Dismissed Injunction Lifted
The case from ville North Carolina involving South and Western about alleged encroachment on the Southern Railway near Marion is dissolved. The injunction restraining South and Western from proceeding with traction work at the disputed point has been removed.
Naval bill passes with submarines by secretary’s discretion
Washington reports the House voted 108 to 10 to amend the naval appropriation bill striking restrictions and leaving submarine contract awards to the Secretary of the Navy. The bill, over $100 million, was nearly unanimously approved amid lively floor exchanges including a lengthy speech by Representative Williams on naval policy and expenditures.
MENTIONED IN THIS ARTICLE
Tribune Bureau
Washington
House
Naval
Secretary of the Navy
Electric Boat Company
Navy Department
Hill
Connecticut
Olcott
New York
Sage Boat Company
Roberts
Massachusetts
Lilley
Knowland
California
Mare Island Navy Yard
John Sharp Williams
Williams
Republican Party
Mississippi
Merrimac
Monitor
Mr. Williams
Mr. Hobson
Tiberius
America
United States
Hobson
Williamson
William Selliams Yester
Interoceanic Rail and Auto Road Proposal Touted
Ex congressman William J. Coombs argues for a national railroad along the 42d parallel from ocean to ocean and links it to a cross ocean highway concept. He says a combined rail and auto route would regulate interstate commerce by keeping smaller roads from being absorbed by large systems.
MENTIONED IN THIS ARTICLE
William J. Coombs
Municipal Art Society of New York
South Brooklyn Savings Institution
Bourke Cochran
Ocean
the Tribune
Coombs
Congress
Panama Canal
Republican district conventions elect unpledged delegates
A series of district Republican conventions from Salem Massachusetts Salisbury Maryland Hagerstown Missouri and New Orleans announced elected delegates to the national convention. Taft was favored by many resolutions while several delegations were uninscribed and unpledged. The Salem meeting named Hoyt Wittum with Gove and Denen as alternates.
MENTIONED IN THIS ARTICLE
Salem
Mass
Taft
Roosevelt
Charles M. Hoyt
Haverhill
Albert Wittum
Beverly
William H. Gove
Ralph 8. Denen
Gloucester
Salisbury
B. A. Guidrey
Opelousas
Walter L Jones
Lake Charles
Chicago
Senator Foraker
Brownsville
The Servant In the House Easter Gift
A review hails The Servant In the House as a drama inviting reverent life truth and brotherhood. Critics call it a work of rare vitality and suggest it makes the impossible seem possible.
National Civic Federation bill faces continued hearings in House sub-committee
Washington hearings on the Sherman act amendment reassembled under Chairman Littlefield. Seth Low urged changes placing arbitration with the Interstate Commerce Commission, backed by Andrew Carnegie’s support urging a single authority. Henry Towne urged a temporary study commission to craft future legislation.
MENTIONED IN THIS ARTICLE
Washington
National Civic Federation
Littlefield
House Judiciary Committee
Seth Low
Federation
Interstate Commerce Commission
Commissioner of Corporations
Low
Andrew Carnegie
Carnegie
Plan for U S Capital Loan to Manchuria Disclosed
A Peking rescript reveals a plan to enlist American capital for Manchuria with a loan up to 1 000 000 taels under Tang Shao Ti. The move aims to neutralize Japan's influence, honor Portsmouth terms, fund railways, and safeguard Mongolia with allied creditor powers.
MENTIONED IN THIS ARTICLE
Peking
Manchuria
Tang-Shao-Ti
Ukden
United States
China
Great Britain
France
Germany
Japan
Portsmouth
Mongolia
Russia
President Reyes Out In Colombia Resignation and Co act
General Rafael Reyes temporarily resigns the presidency of Colombia and names Secretary of Finance Angulo to run the government during his absence. He plans a coast tour to bolster support as the National Assembly is convoked for June amid rumors of unrest and a looming revolution. Secretary Taft to visit New York with Red Cross and Civic Forum engagements featuring Carnegie Hall events.
MENTIONED IN THIS ARTICLE
Bogota
Colombia
Rafael Reyes
Republic
Angulo
Panama
Atlantic
Reyes
Taft
William E. Taft
American National Red Cross
Waldorf
Tart
Civic Forum
Carnegie Hall
América
Isaac N. Seligman
John Wesley Hill
Metropolitan Temple
West 118Th Street
Andrew Carnegie
Leslie M. Shaw
Henry W. Taft
Melville E. Stone
S&s
London underground scheme draws mixed press verdicts
London editorials from The Times The Daily Telegraph The Economist and The Statist assess the Underground Electric Railways scheme led by Speyer Brothers and partners. They applaud investor support acknowledge missteps by Mr Yerkes and caution about London specific traffic and government factors shaping tube profits.
MENTIONED IN THIS ARTICLE
London
Times
London plan offers 110 percent to Underground Railways notes
A London cable dispatch summarizes a new plan for the Underground Electric Railways Company of London now in receivership. It proposes 110 percent in new securities for $22 million of notes, with each $1.90 note value receiving $400 of 4 percent bonds and $70 of 6 percent income bonds, backed by a cash guarantee of 31,50,900 from Speyers and allied banking interests to cover fixed charges deficits.
MENTIONED IN THIS ARTICLE
Yerkes
London
London & South Western
Great Western
London & North Western
Underground Electric Company
Chicago
Owever
Economist
Messrs. Speyer
New York
Wall Street
Underground Electric Railways Company of London
Speyers
Fight Over Jerome's Officers Splits City Agencies
Police Commissioner Bingham clashes with District Attorney Jerome and Magistrate Corrigan over control of officers. Reardon and Brennan, once on Jerome's raiding staff, were stripped of badges weeks ago for alleged extortion. They obtained revolver permits from Corrigan, paid 250 dollars each, then HQ sent fees to the DA's office. Bingham orders transfer of probationary officer George McKay to Headquarters as Corrigan pledges a rights probe.
MENTIONED IN THIS ARTICLE
Bingham
Jerome
Corrigan
Edward J. Reardon
John D. Brennan
Reardon
Brennan
District Attorney's Office
George McKay
Corrigan’s
Currency Debates Alter Course on Capitol Hill
Washington reports show Representative Fowler and allies on the Bank and Currency Committee shifting from pushing the Fowler bill to opposing the Aldrich bill likely to be tabled tomorrow. A currency commission bill is introduced for a summer study, while the Vreeland bill may be taken up next after a likely two votes against Aldrich. Bankers seek amendments to the Vreeland bill including lower capital needs and interest rates, arguing regional coverage and scrutiny benefits.
MENTIONED IN THIS ARTICLE
Tribune Bureau
Washington
Fowler
Bank and Currency Committee
Congress
Vreeland
Currency Commission
Banking and Currency Committee
House
Senate
United States
American Bankers’ Association
Ageres
Alfred ©. Crozier
Wilmington
Del
Committee On Banking and Currency
Bankers’ Association
Russian forces invade Persian territory near Lenkoran
Russian troops crossed the Persian frontier near Lenkoran to punish Kurdish raiders after an Apri clash with Kurdish brigands near Belesuvar. Thousands of Kurds fled as Russians, supported by artillery, destroyed villages and advanced further, alarming Belesa residents awaiting orders from Petersburg.
MENTIONED IN THIS ARTICLE
Tiflis
Transcaucasia
Lenkoran
Caspian Sea
Belesuvar
Apri
Belesa Ware
Petersburg
Slavery
A large snowslide in the Case Mountains near Alberta Canyon, Canadian Pacific, swept away two cars carrying about forty Japanese laborers. Only the bodies have been recovered.
MENTIONED IN THIS ARTICLE
Calgary
Alberta
Canadian Pacife Railroad
Alberta Canyon
Case Mountains
Also Mentioned on This Page
Chalan
Post
Elijah
Poetum Cereel Comey
Battle Creek
By Charles Rann Kennedy
Harper & Brothers
MR. Carnegie
Commerce Board
Bureau of Corporations
Supreme Courts
Supreme Court
Henry Towne
Merchants’ Association of New York
Towne
Ras
President Reyes
London Press
Speyer
Speyer Brothers
the Daily Telegraph
Amsterdam
Underground
Electric Railways Company of London
Central London Railway
Liverpool
Underground Electric Railways Company
Lordon
Ture
Alexander Sixth
Mr. Fowler
Asbury Park
Atlantic City
Niagara Falls Lake
Cook
Thos. Cook
Bhat
Lewis & Goncer
West
West Fist St
Persia
Edward
Biarritz
Buckingham Palace
Ruppert
Sfarin
STE
Long Island Sound
Hudson River
Glen” End
Beco
Sunray Schools
Cortlandt ST. Piers
Cortlandt
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