OCR Interpretation


The day book. (Chicago, Ill.) 1911-1917, August 22, 1916, LAST EDITION, Image 4

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1916-08-22/ed-1/seq-4/

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rXil heads call on directors for help '
issue up to money interests
It developed today that the inside
committee of big railroad heads who
met most of last night were getting
in direct touch as fast as possible to
day with their important directors.
They expected to be able to report
tonight or early tomorrow morning )
to the president on their conclusions
regarding this plan.
In a conference between the rail
chiefs and Pres. Wilson yesterday
Mr. Wilson did most of the talking.
"The responsibility tor failure," he
said, "will not rest with me. We are
both acting as trustees of great in
terests. I am willing to allow this
matter to go to the great American
Jury and let them place the respon
sibility. I appeal to you as one Amer
ican citizen to another to avert this
disaster."
Washington, Aug. 22. The great
est industrial struggle in the history
of the country hangs in the balance
today.
The question of acceptance or re
jection of the proposals made' by
- Pres. Wilson in an -effort to avert a
strike that would tie up the railroads
of the country has now been passed
to the men whose money is invested
in the railways. j
As the situation stands this after
noon the employes have put their
demands for an eight-hour day and
time and a half overtime in the
hands of the president. He has put
it up to the heads of the great sys
tem and t"hey, in turn, have passed it
on to the directors. After an all-night
session the select committee of "big
barons" appointed by the two score
executives failed to reach any de
cision early today.
They then wired their directors
and upon the reply from the money
powers behind the country's trans
portation system largely rests the
final result
There is no doubt that a division
exists among the railroad heads.
Against one faction, which favors
"trading" with the president in ac
cepting the eight-hour day principle,
in another group violently opposed
to any step that would weaken their
stand demanding arbitration on all
matters.
A short 'session attended by all of
the two score railroad presidents was
held during the morning, but ad
journed at noon until 6. o'clock this
evening. In the meantime, It was
announced the select committee
composed of eight presidents of the
leading roads and headed by Hale
Holden will continue In session
throughout the day.
The employes had a brief meeting
this morning and found themselves
at a loss to size up the situation ac
curately,' though" inclined to optimism.
JUDGE LANDIS HITS HARD IN
TALK ON PRIVATE BANKS
Federal Judge Landis yesterday
blamed "corruption in the state leg
islature, downstate banking influ
ence and, the immoral backing of
certain Chicago bankers who ought
to know. better", for the collapse of
small banks, in commenting on the
wreck of thfe Silver & Co. banks that
swept away the savings of hundreds
of foreigners. Landis will co-operate
with Dis't Att'y Clyne in attempt
ing tocheck the evil of a certain type
of private banks.
Today S. H. Vowell, manager of
the bankruptcy dep't of the Central
Trust Co.; appointed receiver by
Judge Landisrwill begin opening the
safety deposit vaults to tne Doxhold
ers. The work is expected to take M
a week. The police search for Max
Silver, head of the banks, is still on.
Adolph Silver, who founded the busi
ness ana then retired, is expected in
Chicago soon to aid in untangling
the mess. The police are also Inves
tigating a rumor that he- was in Chi
cago a week prior to the bank crash,
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