Newspaper Page Text
THE SUN, FRIDAY, APRIL 25, 1913.
RAILWAY HEADS HOLD
DiM-iiss CtinriilioiiH Crcntcil hy
Viilmitioii Art. I'hsmmI
Uenily to Aid Interstate Com
mission in Ciirryimr It
Out. It Is Sniit.
Sd serious, from a r.tllUMil man's
atandpnlnt, Is tin' condition ctcatrtl by
tho valuation ait which was approved
by President T.ift on March 1 Hint rep-
nscnt.itlvo.s of llfty-two roads In nil
part? of the country met yo.stordav nt
lhr (Ir.inil v'entral Terminal to jcr what
they should ilo iilmut It.
Kvcry line of Importance was topro
cnted by Its frcfld. nt or other nigh
rfflepr. It probably was. the lnrgost con
ference of railway executives! thnt ha
CVr been held.
It was tailed liy Samuel Ilea, presi
dent of the Pennsylvania, so secretly
Hint not u word about the meeting
reached tin- puhllc until the men were
actually in session, with Mr. lieu pre
At the clone the secretary of the con
ference, (leorgo M. Shrlver, Fecund vlee
tircsldent of tho lialtlmnre nnd Dnlo,
,snve out this formal statement, which
he ."aid wan all there was to he said:
"A meeting of tho executive olllcers
of practically all tho railroads In the
cnuntty was held at the otliccs of tho
New York Central to consider trie ques
tions Invohcd In the act approved on
Manl 1. 1013, for a Federal r.ilir ad
"After a general discussion a perma
nent committee was appointed, with
Samuel Ilea, president of the Pennsyl
vania It.illroad Company, as chairman.
The committee has eighteen memt'ers,
seven representing H.istern lines, sovt u
.from Western lines and four from
Mr. Shrlver added that no conclusions
-were leached nt yesterday's conference
,Btul that the whole matter Is now In tho
'hands of the Iteu committee. The valu-1 Will Have New I'llitoi'i. ltllt Its
tfitloD !ipl i-iwm lilht elY l a .v.iL ffntw
to-day. t !
The words "federal railroad vnlti-j
Intlon" In .Mr. Shriver's statement were,
used with premeditations, nnd they Indl-1
'cate sharply the belief of the railroad'
men that the act of Congress goes!
MAY BOY BACK WITH STORY.
"Iv liliuippeil" l 'UiirKlnra" Who
llrnl If I m In inrr .Moments,
I I'H K. May, nlneleen-year-old son of
Solomon May, head of the May Silk
Thread Company at iV-'H Hroadwaj, who
was picked up an n vagrant by the 1,'hll
ndelphla pollcoearly on Wednesday morn
ing, returned to his home at t!J-' Mast
Third street, Itiooklyn, late yestetd.iy
afternoon with his brother David, who
went to Philadelphia in fetch him.
Children in the neighborhood spread
the news that the boy was back at home
und something of w reception followed.
May tells this story:
lie went to tho bank on Saturday
morning at his father's request and do
posited ir.O he bail received for Unit
purpose and also cashed n check for $fiO.
This $50 Is now missing,
May Mftys lie was to meet IiIf brother
li.ivld nt ll:3i) o'clock at Ilroome and
Wooster streets, lie was pounced upon
by four men on Wooster street, hauled
Into a hallway and chloroformed.
lie woke up In the dark. The four
men who had kidnapped him stood over
him. They weie poorly dressed and
ruffianly looking fellows. They told
him they were burglars and that they
wanted him to .loin their burglarious
band. He refused and they beat him.
Young May chanced to have two
postul cards In his pocket, So lie wrote
appealing messages on these and sent
one to his father and the other to a
young woman friend, Miss Sallle I'hal
of ii!r7 Forty-third stteot. lirooklyn.
Kvcry once In n while, when not
btisy as burglars, the four men beat
him, says May. Hut finally he broke
down u door and escaped. Then lie
learned he was In Philadelphia.
Ilespatchn.H from Philadelphia quote
the police of that city as under the lin-Vres-dnn
that young May kidnapped
lim.uK!.ruu, April 24 -Now that
the May boy has been taken home by
his brother, the local police have
another No w York lad with a story on
their hands. The second youngster says
he is Raymond Maeketts, 10 yfars old,
of rordham avenue. He was found In
tho West Philadelphia freight yards.
According to his story two men who
looked like tramps, kidnapped him in
RURAL BANK SYSTEM
TO AID THE FARMERS
Soul hern ConiineiTiiil Congress
(lets rirtn of a Virginia
;H)I FOR ANY STATU
SOLD TO W.R.HEARST
Policy I to Remain Vn-ehansfcil.
much further than the old idea of
physical valuation, so long advocated by
Senator I-u Follette. and teally calls
upon the Interstate Commerce Com
mission to place a value upon all the
property of common carriers.
Tho railroads protested against the
passage of the bill, but they are sup
posed to be rendy now to cooperate with
the Interstate Commerce Commission in
putting It into effect.
Some (jf those at osterd,ty's confer
ence were W, c. ltrown, president of
the New York Central, who stayed only
ii short time. Samuel IJea, president of
the Pcniisjlvanla: Joseph Wood, (list
vlce-piesldeni of the Pcnnslyvanla. F.
D. I'ndewKod. president of the Krle;
Daniel Willanl. president of the Haiti
moro and !uo. Henry Walters, chair
man of the directors of the Atlantic
Coast Une Hilton H. Smith, president
of the l,ouisllle and Nashville. W. II.
Truesd.ile. pic sident of the Lackawanna .
K. H. Thomas, president of the Lehigh
Valley. L. i;. Johnson, president of tho
Norfolk and Western; Fdward T. Jof-
icry. enairman or tne Directors or the i for
Denver and l!lo !rando and the Western
Pacific, and Klngdon Clould. represent
ing the same roads; H. A. Mudgc, vice
president of tin. Chicago. Hock Island
and P.icltlc, W. A. (lardner. president,
and Marvin Hughitt. chairman of di
rectors of tho Chicago and Northwest
ern; W. W. Klndl.iy. president of the
Southern Hallway; Julius Kruttschnltt.
chairman of the executive committee
of the Southern Paclllc; I). L. Wluchell,
president of tho St. Louis and San
Francisco. J. M. Fitzgerald, president
of the Western Maryland; 11. M.
Kochei spi'l ner. vleo-piesldcnl of the
Harper's lln:nr. published by Har
per & Hros.. Franklin Square, has
been acquired by a new company, Har
per's Hazar. Inc.. and will hereafter be
published from 3SI Fourth avenue.
The magazine Is forty-seven years
old and was one of the earliest maga
zines for women In this country. Will
iam Itnndolph Hearst and his associates
are the buyers.
(leorge von 1'tapsy. the publisher of
Mr llrarst's Cosmopolitan, llwrifi
Jaii-i"''. (loml HoKH'kccptnii, Motor
anil Mntnr Hotting, will have ohargo of
the new llnrprr's Haxnr.
Manager Punckn of Harper's said
yesffrday that hl.s company had sold
Harper's llaznr because they realized
that n magazine for women required
specialization The printing house on
Franklin Square, he said, was unable
to accommodate the Increasing needs of
llnrprr's Ilnznr and therefore It wns de
elded to sell.
.Mr. von I'tassy said that the policy
of llnrprr's lltttnr would be unchanged.
He said that he paid less than 51.tnn.n0i)
the ningazlne. Harper's. Rrznr.
Central Institution nnd Local
Feeders in Scheme Can
He Made l.nw.
Inr, was incorporated last week, h
said, and the other members of t are
employee of the foimopolifiti nnd
Itllzaholh Jordan, who has conducted
Harper' Hnsnr, will Mav with the 'he amount of the principal so paid
Unmer comnanv. Within n month the back, and while tho borrower continues
Charles Hall Davis, n lawyer of Pet
ersburg, Vh.. lias submitted to the
Southern Commercial Congress a plan
for tile organization of a rural bank
ing sjstcin for his own Stale whlcff,
with modifications, he believes could be
adopted by any State.
This plan Is designed to foster the es
tablishment of rurnl banks to bring to
gether tho neighborhood funds nnd to
tnako them available for tho develop
ment of farms nnd the financing of co
operative purchase and distribution of
farm supplies nt the lowest possible cost
as well ns the financing of the market
ing of farm products to advantage.
Tho scheme contemplates in genernt
three Institutions, a State department,
having supervision over rural banks; a
ctnt r.il rural hank for each county und
local rural banks, the latter to be Incor
porated on tho proper application and
compliance with regulations of any ten
or more residents or real estate owners
in any community.
The minimum capital stock of each
rural bank is limited to $.',000. shares to
he nt the par value of $10, nnd at the
time of organization to be sold for not
less than $25. I'ntll the bank shall
have accumulated an earned surplus
equal to the amount of Its capital and
paid In surplus every stockholder shall
be liable for twice the amount of stock
and surplus subscribed by him,
Th'se rural banks are to do a general
Kinking business, with preference given
to savings bank business. Timu
deposits are to pay not more than
I per cent. Interest. Check deposits earn
no Interest. Loans to run for not more
than three years and bearing interest of
not more than I per cent. In excess of
the late allowed on time deposits arc
authorized up to an amount equal to
the bank's capital, surplus, undivided
profits, ami u per cent, of Its time de.
posits on the securltj of first mortgages
of first deeds of trust upon unencum
bered real estate located in the com
munity served by the bank. To no In
dividual shall he loaned an amount ex
ceeding 10 per cent of the sum of the
bank's capital, surplus nnd undivided
Long time loans, aggregating not
more than ten times the sum of the
bank's capital, surplus nnd undivided
profits, an- authorized for period of
from three to fifty years. Such loans
nie to be guaranteed by the rural bank
and may be sold by It direct. They may
also be forwarded to the central rurnl
bank and be sold hy It after being again
gnaranteed both as to Interest and prin
cipal. An appraisement committee If to de
termine the value of all land offered as
security for a loan and no loan must
exceed t0 per cent, of the value of tho
land as aise-s..d for purposes of taxa
tion. Hurnl bank mortgage liens are to
be prior liens except a Hen for taxes.
These long term loans nrn to be
amortized b periodic paments to tho
rural bank guaranteeing them. "When
received these payments arc to be for
warded to the central rural bank nnd
by it placed in a special fund, upon
which Interest shall be paid. This ppe.
clal fund mny lie Invented In State or
municipal bonds when approved hy tho
ryral banking department.
The central bank becomes liable for
payment nre thrown about this pari of
It Is provided that when the earned
Kurplus of tho rural bank shall have
reuched the sum of a shale the
stockholders ale to be lelleved of tin-it
double lespouslblllty, Then after p.i -
lug a 15 per cent, dividend on the stock
the remaining earnings are to be oc
V Ided, one-hnlf going to Int tease Hie
earned sin plus and the other being
paid hack to borrowers who have paid
or become liable for Inleiest on loans
dining the preceding twelve months.
When the earned surplus, I tic leased
each year by one-lialf the earnings
over and above tho dividends, shall
have reached the sum of tM a share,
making each sharo woith $", Hie en
tire capital stock of the bank Is to be
bought In nt $25 a shale, plus the divi
dend of 15 per cent. Then the stock
Is to be turned over to the State, can
celled and reissued as part of Its gen
eral education fund.
The central rural bank In each
county Is to have n minimum capital
stock of JlUfl.fMlO, to be subscribed and
paid for by a State appropriation The
stock so subscribed Is to lie sold to the
rural banks as they are organized.
The central bank Is to repaj the Slate
as soon as the entire $lnn,ni)0 Is sub
scribed for. t'nder the plan the cen
tral rural banks would do all of the
Slate's banking business
National banks ate not allowed to
lend money on real estate securities,
nnd State hanks have followed this
lead. The consequence has been the
forcing of the farmer to deal through
commission merchants, who have
mulcted him and generally forced fore
closure on his niortengps. Otherwise
they have been dependent upon lawyers
to find persons willing to Invest In farm
Mr Davis hopes his scheme will sug
gest something In the wav of a rim!
bank law that will give the farmer ,-.n
opportunity to borrow money on good
terms and also to Insure the lender.
ASKS FAIR PLAY IN TOLLS.
Mr, Nru m of Xiirwuy j Irenly
Itrqulrm l.'iiunl Treatment.
rASItlNOTON. April 2! -(iiegets W
W. C.rHin. Minister of State of Norway.
who was the principal sp- iker to-night
at lb" opening confetence of the Anierle iu
Socletv of International Law. de.-laied
that the Panama Canal should lie open
to all nations on equal terms
Mr flram said the leiter and spu't
of the Hay-I'auncefote treaty demanded
that American coastwise trade pay the
itlpulated tolls for csfcIs of that class.
DELVED INTO STOCKING
TO STOP A SUICIDE
Mr.. Shannon Fished I'p
and Saved l)au'hter From
Heiiiir a Widow.
A iiioiliei -lii-l.iw's story of how she
was Induced lo give up money to pre
vent her daughter from becoming n
widow was iclated to City Court Jus
liii' Schmnok and a Jury jesterday In
a suit of .Mrs, Anna Shannon, a play
wright, against Alphonse Charles Char
lot, a mining engineer and president of
tlie Cliai lot Mine und Smelters Com
pany. After hearing Mrs. Shannon's story
the Jury gave her a verdict for $ii00,
J lor prospect of collecting Is not fnvoi
ahlo bemuse ('harlot Is In Ludlow
street Jail for failure to pay J40 a week
alimony to his wife, D.uc Melbourne
Chariot, pending a suit for separation.
Mrs. Shannon sued her on-ln-lnw
on a note. His defence was thnt he got
$170 fiom his mother-in-law to pay her
bills and she was demanding $130
usury Chariot's attorney, Kdward A.
Isaacs, sought to show thnt Chariot
sent his wife nnd her mother large
.sums of money last summer, but Mrs.
"Why, the very Idea' That man owes
me thousands of dollars, Last .summer
I lent him $.170 on n boat coming up
from Ashury Park "
"What were the circumstances of
that loan?" asked the lnwyer.
"lie threatened to kill himself If T
didn't give him money at onre for
"How does the date fl Itself In vour
"It was u nutter of Interest to me
that he was about to kill himself, so I
Jotted It down in my diary"
"Anil I suppose you halted the calam
ity right then and there"" commented
"Yes, I reached down In my stncklns
nnd got the chnnge for him "
While Chariot's wife was testifying
that there were times when she didn't
even have bread to eat the lawyer
waved bills for gowns and opeia tickets
amounting to $ts." and said'
"Then how do you evplnln this""
"That is perfectly plain," said Mrs,
Chariot "M- Chariot bought me those
In Dry Cold Air
AT MODERATE PRICES
ALTERATIONS AND REPAIRS
Charges during the Summer months arc
very much lower than at other times.
C. G. Gunther's Sons
391 Filth Avenue, New York.
rrletihnne ftflAfl Mnrri) HIM
IO Per MONTH UPON PLEDGE
OF PERSONAL PROPERTY
THE PROVIDENT LOAN SOCIETY OF NEW YORK '
Fourth Avenue cor, 25th Street' Ccmnna Ave, vor.l4!Uh Street
EldriiiRe Street cor. Rivincton Street " mtookLTN
Seventh Ave. bet. 48th and 49th Sts. ri!ha,n Avenue cor. Debevois y
Lexmpton Ave. cor. 124th Street f ltk!i? Avenue or. Ro:k.iwjy Ave
Grand Street cor. Clinton Street t PER CHN r.CliARGETJUl'ON
h'ast 72dSt..bet. LexuiKtoncV Jd Avs. ISLOANS RliPAID WITHIN
East Houston St., cor. t:sser St. XtVO WEEKS FROM DATF
frowns without my consent lo make an stricken from the record,"
impression on his friends, to whom he "We'll let it stand," said the court
sold his wildcat mining stock among "You know very well he got some n
thetii being vou, Mr. Isaacs" your money nnd vou got some of ih,i
"I object'" shouted the lawyer "1 i stock." said Mrs. Chariot as she lef
demand thai the word 'wildcat' be ! the stand.
new owners of llnrprr'.i Hmnr will
pick tho editorial stalf of tho woman's
monthly. The new editor will be picked
before the .tune number appears.
SEIZE LIQUOR WORTH $75,000.
to pay Interest on the original principal
there l returned to him after each pay
ment all nccrued interest on tho trust
Such long term loans nro to be made
by rural banks so far as practicable only
when tho proceeds of the loan are to bo
used for the improvement or cultivation
New ViaU. Xew Haven and llartfoid. 1 Kelr Men Until HhM Mile Wine of the land or as part of Its purchase
T M, IJmeisou. president of the Atlantic
Coast Une; W. .1. Ilaiahan, president
of the Seaboard Air Une; H. A. Worth
ington, president of the Chicago and
Alton; fiern go I". Haer. president of the
Iteadlng. Italph Peters, piesident of tho
Long Island, and W. U. Story, dr., vl.c
prcsldeiu of the Santa I'e.
When tip valuation lull was hefore
the Senate lnterst.ito Commerce Com
mlttee last winter several tailrod
presidents te.sed tiiat physical vallia
tlon had be n attempted in twenty
Statec, but that there was no uniformity
because engineers of each toad used ;i
different method of appraisal.
The valuation act was proposed origi
nally by Senator I.a Kollette. It provides
Kverv special agent that State lclso
Commissioner W. W. Parley has on
P.ls staff, sixty In number, together with
a score of pn'icemen and other mem
bers of the Kxclse Commissioner's of
fice, swooped down on two score and
more Hast Side i Ider stuhes and cellar
wine shops vesterday and seized JTn.
IHIH worth of goods.
Itv evening llftv-four search warrants
1-sued by Justice Lehman In the Su
preme i 'ourt had beep served on own
ers who hadn't sren fit to take out n
State license, and Jn many cases not
even a Federal license.
Commissioner Parley'" stnff hav
have heen working on these cases for
price. For such cooperative associations
or corporations as may be formed for
the purchase at wholeHale prices of seed,
fertilizer, farm machinery, farm hup
piles or animals provision Is made for
loans on farm produuts and on com
mercial paper, Indorsed notes or col
lateral. Safeguards as to tho timounti
to be loaned and the guaranteeing of
HAIR CAME OUT
., , nave neen worair
u , . " . 'bree months. Justice Lehman wa
sinn, ' shall nvestigate. ascertain and re- ,1My f(,r u0f,,nys s,snlnR , HMrch
port the value of the property of every
Itallroad men have said thnt the pur
pose of the law Is to provide a basis for
future rate miking by the Interstate
Commeice Commieslnn. They have said
also that the Investigation will prove
that railroads are generally undercapi
talized and that the asseta as given In
annual reports do not begin to repre
sent the cost of reproducing the rnil
t'nder tho act. the inv estlgatoiv of
the Interstate Commerce Commission
have five year to lomplele their task.
and seizure warrants.
The liquor seized may be sold at auc
tion bv the Stale Instead of being
poured in'o the gutter.
The campaign was started because of
complaints of liquor dealers who have
paid for licenses.
The only opposition shown to the
raiders was when some of them showed
up at P. I.apanto's shop at '247 Avenue
A and started for the cellar to seize
ninety-five bariels of chlautl and other
wines, Mr. l-apanto seized a bung
starter and slatted for the "robbers,"
II 1ms been eHllnu.tra He.. n, ..ii 'o thought them, until a policeman
be $c.000.ono, lt a lallroad olllccr vv ho I "T''l '' matter was explained.
attended the conference vesteulav saul I "
that was merely a guess and that no. SPARKS FROM THE TELEGRAPH.
body could tell what the cost of thin
unprecedented undertaking may bo. A
large part of the expense will fall on
MRS, 0. H. P. BELMONT SUED.
Jmpph mill lieorge I,)ihi Want
111,111111 Knell for rre.l,
suits weiy brought b Joncph and Cenrgn
1 I .sons, brut hers, who went to Mr.
Ilelmnnt'ii residence early thin month to
deliver .i gown to Mrs. Belmont. They
pot into an arguinnnt with Mrs. Ilelnmni
over payment for Ilia gown, ami vii
i niised their arrest for disorderly con
duet, She fulled lu appear aijaliisl lhen
to court, although her attorney was there,
and they were discharge after they had
tjern In u cell for eight houn.
With Eczema of Scalp. Sores Broke
Out. Tortured Greatly. Impossi
ble to Sleep. Thin Crust Itched
and Burned. Cuticura Soap and
Ointment Cured In 2 Weeks.
"03 (lrand fit., lirooklyn, N, Y. "flom
tlmn ago I troubled with riema of
the lealp, noma kiiti broke out and they
Itched o that I
scratched and cauaed
them to open and
epread, Tba pciema
tortured me greatly
and combing my hair
waa lmpolble. Night
aftor night It waa Ira
powible tq obtain aleep
owing to tba Itching of
my teal p. Wc.-te till, my hair came out
In handful. After a whilo a thin cruet
formed on my head wokh Itched aad bum ad
making life, miserable.
" I tried . ' Ointment and other rama
dlea without auccen. I bad giran up bopa
of recovery, I heard of the wonderful curee
of Cuticura fioap and Ointment and I tent
for and received a generoua aampla of each.
First I ehampooed my head with Cuticura
Roap and when dry, applied Cuticura Oint
ment, After the flnt application tba Interne
Itching crated and In two weeki my acalp
was completely cured. My hair U growing
thick and long." (Signed) Mlu Elizabeth
Wehnrr, Hept. 21, 1012.
Cuticura Boao (2&c.) and Outleiira nini.
Colorado Springs that lie will be up- I ment (50c) are aold throughout tba world,
able to attend the congress of (iovernois A ,,,..1,, .., ...-., . iK-..i
thn" n TM , , r, aample of each mailed free, with 38-p. Skin
An' oW. AddxeMpo.Ward"Outlcura.DePt.T.
; .a. at..- ivr I lit. I 1)171 at. . . ..
Mitvi -avisou Us7U UIQ uuiluun
IMii.i Newman, '.' enrs old, escaped
death vesterd.iv when she wns swept
thiough a drain pipe and then tescued
from the creek Into which It emptied at
Wl nither. I 'a
I mi wiiuurawai or ,nn oi ine j,iimi
marines who have been at (Suantanamn,
Cuha, mnee iiin downfall of the .Madero
i Hoveinnieiit In Mexico was ordered by
I S'iimIaiv llitnlMlu viu.trrlu V
i-, I Itelinoiil, who sailed for , A mi. ,lUrl. t.olu declared dei,
I.urope enrl vesteulav morning on the through having cniiio in contact with
MHiiietaniii, ,,s sen.d just helm- tho , ,nfii voli.s Thoinss Saxtnn, cars of
, " '"",,;lh 111 lw" """" for , ae. a Inieinn of Sunbuiy, Pa, vvi.k
' ' ""o 'or iiiise aires! i h .loiiKhl to life by Hrtlflc s rean ration
President W'ooilrovv Wilson has ad
vised tho C hamber of Commerce of
brother waa alienating his wife's affec
Draw an oval on the map. From Boston up to
Montreal, across to Chicago, down to St. Louis and
Cairo, up by way of Louisville and Cincinnati into the
new Grand Central Terminal at New York, and so
around. You have enclosed half the population of the
Every day the all-steel 20th Century Limited (the most famous
train in the world) and a long list of other splendid trains of the New
York Central Lines ply back and forth between all the important
points in this oval.
In the equipment of their trains the physical characteristics of their
lines the refinement of their passenger facilities at every point at
which the New York Central Lines come in touch with the public or
with any individual, the effort is towards the highest standards of what
a railroad should be.
The 50,000,000 people within this oval directly served by the
New York Central Lines with their 13,000 miles of railway are not
the only people affected by such service.
Wherever you are, it means something to you.
Employing a force of 150,000 men greater than the whole Army
and Navy combined,
Paying out $280,000,000 annually in wages, interest, taxes,
purchases, etc., which passes into general circulation,
Connecting with other great transportation systems,
the relation between the public and such a transportation
company becomes one of national importance.
The New York Central Lines have the desire to establish a firm
basis of mutual confidence and mutual co-operation with the public,
looking to a mutual prosperity.
eap Sharing Stack, afc. eampla free.