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Newspaper
Washington Post
Location
Washington, Washington Dc, United States of America
Date
Nov 26, 1907
Page
4
Banks in leading centers prepare to resume currency payments with new one year certificates deposited as backing for circulation. Secretary Cortelyou’s plan aims to widen currency by bank holdings and reduce Treasury balances through securities backed funds and adjusted disbursements.
The Treasury Department authorized subtreasurer Justice S Bovier to refund the amount paid for 6 percent certificates. A circular advised subscribers that upon presenting temporary receipts the funds would be refunded, but subscriptions continued, totaling about 5.78 million dollars by noon.
Fragmented text discusses President and Great Western halt, government deposits, and a call to economize. It cites a need for liquidity, mentions a subtreasury and a working balance near 20 million, and compares to the English government's reserve.
In Cohogs New York region factories restart after years of limited shifts. The E and Z Fratbanks Scale Co employs 1 man on a five hour schedule, now shifts to eight hours to meet orders. Sunn Year Pump Works orders Ravie on fd] tan and Lutkin 22% report industry recovery. Officials note labor unrest and anxious workers as the outlook brightens with mills expected to run full by January 2.
Washington reports indicate Southern Republican leaders face a possible realignment over the Roosevelt renomination. Edicts restricting federal officeholders prompt talk of superseding Acting National Chairman Now and souring the alliance that has held Southern delegates in support of or against the President.
Reports from prominent public men claim sentiment in their communities favors renomination of President Roosevelt. Gamble of South Dakota says no sentiment for any other man, while Hensborough of North Dakota and Hull of Iowa echo similar views. Senator King’s view from South Dakota differs, saying three fourths support Secretary Taft for the nomination and would carry the delegation.
A Washington dispatch reports Don Brenaman Fowler of New Jersey may be ousted as head of the House Banking and Currency Committee. The piece cites his criticism of Roosevelt and Cortelyou currency plans and notes Speaker Cannon’s power to appoint chairmen as a key factor in possible replacement. Fowler’s insistence on his bill and the committee’s disarray are highlighted as impediments to winter legislation.
Funeral services for Dr. Robert Brice Donaldson senior past grand master of the District Grand Lodge of Masons were held at New Church at Sixteenth and Corcoran Streets. Interment followed at Congressional Cemetery. He died at 81 from acute indigestion at his home on Sixteenth Street NW.
Negotiations over Dominican debt yield a revised plan to pay creditors a portion of what is owed immediately from a 3.5 million dollar fund in the National City Bank of New York, with the remainder financed by selling Dominican bonds to a syndicate at a later opportune moment. A conference at the State Department will consider a variant that preserves immediate cash to creditors and issues bonds directly by the Dominican government rather than via an intermediary. Morton Trust Company and Boeyer J. & Co remain as agents to manage the new arrangements and storage.
The Lykes Steamship Company filed a complaint with the Interstate Commerce Commission alleging the Commercial Union, a Cuban firm, induced Cuba shipper patronage by granting gratuitous shares in its stock. Railroads including Atchison Topeka and Santa Fe are named defendants in a bid to monopolize through rates and common stock bonuses.
A hearing on food and drug inspection accompanied sales of six houses. Properties on East Capitol Street and around Ninth Street, Massachusette Avenue, and Fourth Street Northeast brought prices up to four thousand six hundred eighty dollars. The Stone and Fairfax firm sold several brick dwellings as discussions with the Simpson Sullivan Company unfolded. The gathering at Washington Heights Presbyterian Church featured Secretary Weller urging social assimilation and charity involvement.
A strange method called the chest system is described by P G Horton of the Chesapeake and Potomac Telephone Company. Two women allegedly demonstrated a talking tube held against the body to transmit voice, claiming words are understood as clearly as a regular transmitter. The piece jokes about social use and potential dangers of germs, noting public adoption may falter amid fashion, while predicting possible privacy risks in social settings.
The Secretary of the Treasury issued an order requiring all bonds executed by surety companies and approved by subordinate officers to be sent to the department at Westington. Some agents lacked authority to sign bonds under powers of attorney, a flaw uncovered by a new index system. The move centralizes oversight across branches, impacting about 50,000 agents and easing firms’ burdens of supplying certified powers.
Dr Wiley travels from Washington to Harvard University invited by President Biot to speak at the three hundredth anniversary celebration of John Harvard. He will represent the Harvard Club of Washington and discuss the food question amid the event. The interrupted legal meeting adjourned to 2 pm for judges and attorneys to attend important trials. Prof Pickens of Harvard set to address Bethel Literary and Historical Association at Metropolitan African Methodist Episcopal Church tonight.
The report notes Benjamin B Bradford purchasing a three story structure on Thirteenth Street NW to convert into a business house owned by Bernard C Catt. Moore and Hill sold a residence at 11 New Hampshire Avenue NW to Thomas Owens. new owners include Hi Zimmerman. American Yee Company plans a top addition at Ninth and Water Streets SE with foundation work underway and construction supervised by Semuss the manager.
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