30 Sep 1902
Page 1
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Newspaper
The Indianapolis Journal
Location
Indianapolis, Indiana, United States of America
Date
Sep 30, 1902
Page
1
Secretary abolishes the deposit reserve requirement freeing more than thirty million dollars for business needs this morning. Banks may hold securities other than government bonds as collateral up to 65 percent of par value with approved municipal and other securities acceptable.
Secretary Shaw announces banks will no longer need to hold reserves against government deposits secured by bonds, freeing about 30 million dollars and enabling banks to expand credit for railroads, steamships, and daily operations. He outlines replacement securities, ongoing deposits, and per diem revenue handling to support increased circulation.
Vienna reports American banks offered to lend against gold reserves in the Austro Hungarian Bank vaults estimated at 12.5 to 15 million dollars in American gold eagles. The United States would repay with interest bearing bills of exchange if accepted, though financiers diverge on profits versus risk and potential complications.
Kingstown reports widespread dissatisfaction over U S aid after volcanic eruptions. Food and clothing contributions have allegedly been sold abroad and ration distribution halted amid a semi chaotic situation in local relief work.
The report notes widespread suffering after estates were destroyed, with many laborers unemployed and huts eight by eight feet. Relief funds are largely unspent, and malpractices prompt representations to colonial secretary Chamberlain. A. M. Ihmore is to lead relief efforts from October, with a second commissioner rumored to join from England.
United States Commissioner Shields ordered A. B. Rosenthal and Martin Cohn of A. B. Rosenthal & Co. held for the federal grand jury over alleged fraudulent silk invoices. Detected by former appraiser Wakeman, arrests followed in June, with shipments from Yokohama and France flagged as fraud intended.
A brisk first day in the Snyder bribery trial ends with a state victory as Judge Ryan overrules all defense objections. Snyder, a Kansas City and New York banker, was arraigned and did not plead. Jury selection starts tomorrow to decide residency and jurisdiction under Missouri law. The case hinges on whether three years residence in Missouri can be shown to allow prosecution. Folk argues Snyder has Newark ties. defense cites residence in Kansas City. Punishment could reach several years in prison.
The board of lady managers presided by Helen Gould convened at the Southern Hotel to finalize government exhibit plans for the Louisiana Purchase Exposition. Illinois Iowa and Arkansas officials arrived and state allotment exercises begin tomorrow and run through Thursday evening.
The note states United States money circulation totals 2,264,032,045 dollars. If laid contiguously as silver dollars, this sum would encircle the world 2 1 5 times.
Indianap olis local Republicans plan a large Oct 8 meeting at Tomlinson Hall with speakers Sherman Vreeland and Alexander McDowell. Overstreet’s efforts secured the lineup, and John B. Cockrum will preside. The event, open to the public with no tickets, aims for broad turnout including business leaders. Senator Hanna may speak later. Whallon leads a large speakers bureau with many prominent figures available for campaign events.
In Copenhagen a gathering of commercial leaders and officials discussed Denmark's official stance for the St. Louis Exposition. Admiral Richelieu pushed for proper Danish representation with United States Minister Swensen and bank presidents in attendance. A public meeting will form a committee to press the government for funds. Crown Prince Frederick will receive Commissioner Wennerstrom tomorrow for talks sparked by the crown prince's interest in the expo.
James J. Hill, president of the Great Northern Railway, plans to attend the National Irrigation Congress in Colorado Springs October 6 to 9 if time allows. Commander Booth Tucker, Salvation Army founder, mails a note promising an address on colonization work tied to irrigated lands and reports a recent inspection tour.
Meetings for colored men are planned at Brightwood and Malott avenue with no fixed dates. Tomorrow night a league opener is planned at Iron League rooms Indiana avenue and Michigan street. Logan Club meets in Bristor block Virginia avenue between Buchanan and Wyoming streets with speakers M. L. Clawson and James H. Lott. South Meridian Republican Club to entertain a large crowd at Lyra Hall Meridian and Kansas streets at 8 p.m. A. N. Grant and William Reagan will speak.
Walter F. Hulet a leading Democrat and Montgomery Fair secretary meets George Graham Republican dry goods merchant at the Grand Hotel. Hulet eyes a State Board of Agriculture post while praising Landis, and Graham predicts Republican victory in Montgomery County with business optimism amid eye catching local signs and rivalries.
Charles H. Neff of the Anderson Herald described a large crowd at the Big Four depot in Anderson awaiting President Roosevelt, with estimates of 8,000 to 10,000. children traveled from Pendleton and Alexandria. The crowd learned after 5 p.m. the President would not appear, causing widespread disappointment. Senator Fairbanks’ opening speech left a strong impression, while Democrats held no meetings yet as cannon fire signaled a Democratic gathering in another area.
Rufus Cantrell, named as gang leader, confesses to grave robbing across Crown Hill and several cemeteries, implicating Dr. Joseph C. Alexander of Central Medical College. Seven arrested, bonds set for some, others jailed. one member at large. Cantrell says more than 100 graves emptied at a Central Insane Hospital cemetery. Alexander denies involvement. Detectives pursue Dr. J C Wilson and others as investigations continue.
Cantrell testified in court recounting years in grave robbing and payments up to 420 dollars per delivery from Dr. Alexander at the Newton Claypool building. He implicated Sol Grady and others in stealing Julia Middleton and Wesley Gates’ daughter Glendore Gates, with a coffin at Cherry Grove Cemetery found empty. Bodies were said to go to Central Medical College or be shipped to other locations. Cantrell claimed cemetery watchmen and shotgun deterrence were key.
Washington reports the Grand Army reunion schedule at Camp Roosevelt with about forty meetings planned. A formal dedication on Monday Oct 6 features speeches by Secretary Hay General Torrance and others in large canvas tents named Grant Sherman Sheridan Farragut and Meade.
Secretary of the Navy ordered naval cadets to participate in the Naval Veterans parade in Washington on Tuesday of next week during Grand Army encampment events after a conference with Superintendent Wainwright of the Naval Academy.
Washington Sept 29 The President rests well after Sundays operation and shows satisfactory progress. Doctors, including Dr Lang and Dr Shaffer, report the wound healing and normal temperature. Misses Alice and Ethel Roosevelt visit the White House as public calls surge and officials brief on his condition.
The famed novelist Emile Zola was found dead in his Paris home due to asphyxiation. A witness described the moment his wife Suk saw her husband rise to open a window and faint, failing to raise the alarm.
Paris dispatch reports Emile Zola the celebrated novelist and Dreyfus defender died in his Paris house from asphyxiation due to fumes from a stove. Mme Zola, awakened by gas, was briefly unconscious and hospitalized. Officials investigate whether accidental gas poisoning or other causes led to his death.
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