Newspaper Page Text
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THE ROCK ISLAND
FIFTY-SEVENTH YEAR NO. 11.
THE ARGUS. WEDNESDAY. OCTOBER 30, 1907.
PRICE TWO CENTS.
IN FINANCIAL CENTER
Normal Conditions Again
Prevail in Banks of
WEST IS CAUTIOUS
Stili Taking Measures to Guard
Cash Reserve No Fail
New York, Oct. SO. Banking condi
tions proceeded steadily today towar.l
recovery from their recent straiu. The
use of clearing house certificates bo'.'i
here and at many outside ioiiits lta-f
relieved much pressure on the banks
which are now approaching almost
Itntr in London I m-liaaKiiI.
Although no further gold engage
ments were reported early, it was
noted with satisfaction the business
day in lndon had passed without th
advance of the bank rate. (Jold 'a
coming not only from Europe but from
South America as some recent engage
ments have been from Argentina's
stock of gold. It became definite!.'
known here the report of a financial
crisis in Chile was incorrect.
Mock .Murkrt Weak.
The stock market showed consider
able weakness and irregularity, wit i
opening declines on some prominent
stocks. A favorable feature of the
tremendous buying of stocks in sma.l
lots for shipment was reorted by tho
big brokerage houses. Purchasers ar
paying cash and the volume of busi
ness during the past week runs wjII
into the millions.
Iluy In Smnll I.om.
Not in a score of years has Wat'
street experienced such buying orders
in odd lots for transfer papers. The
majority of these orders are for
blocks of stock of five. 10, 23 and 50
shares while sales of one and two
shares are being frequently recordei.
rar ornml in Xn York.
New York. Oct. 30. Banking condi
tions approached normal in this city to
day. The situation is nov so well in
hand no further conferences of bank
ers are anticipated. The banks im
proved their position yesterday by call
ing loans, and this process of adjust
ment may be continued today. Bank
ers declare the clearing house certifi
cate plan is working out smoothly and
rapidly bringing about normal condi
tions. Aw York City Ont or Caah.
New York, Oct. 30. Heads of all
departments of the New York City
government were directed by Mayor
McClellan today not to advertise for
any new contracts for work for the
present. The mayor's order reads:
"Until such time as in my judgment
finances of the city warrant it, you ar-
herewith instructed not to advertise
for any new contracts for work in
Morgan CnrrylnK imcrrxt.
It is estimated that interest pay
ments due which are being anticipate I
by J. P. Morgan & Co., aggregate
nearly $7,000,000. The fact that the
weaker banks in the city are recover,
ing from the severe financial setback
of last, week or more, was clearly
shown today when their balances were
adjusted through the clearing hous"
All but five or six banks whose posi
tlon has been regarded as most vul
nerable had balances due them at the
clearing house today and having debit
'balances owed a very small sum. The
accounts of all members of the stock
exchange passed the clearing house of
Money Available for Trading.
It was evident early in the day's trad
ing the brokers would bo able to S 3
cure money on call to supply the day'?
needs, $1,000,000 being offered at 7,'
per cent. This had no takers but the
first loan was made at 50 per cent
TAFT IS NEEDED
Secretary of War Ordered to
Leave Philippines at Once
Manila, Oct. 30. As a result of
voluminous cable correspondence ba
tween President Roosevelt and Secre
tary Taft it is understood .the latter
will leave Manila Nov. 2 in order to
reach Berlin at the earliest possibl
moment. It is learned unofficially
' matter of the greatest Importance is
pending In Germany and Taft's pres -
ence there Is- necessary Immediately,
The rate quickly dropped to 40 pe
ewit. Will ln y Hvrry Dollar.
New York, Oct. 30. The Knieker
hocker Trust company which closed
its doors last Tuesday will be able to
pay its depositors every dollar due
them, according to information made
public today by the committee of di
dectors appointed to investigate its
SI I TATIOX IIKTTICll AT ClIICAttO.
Uulrt HrNlwrril lit All limits timl No
tUtit or AYI'htlruwnl Have Craned.
Chicago, Oct. 30. The local finan
cial situation showed today improve
ment over yesterday, matters moving
along smoothly in all directions. Sav
ings banks ' reported that withdrawal
notices have practically ceased an i
all uneasiness among depositors ha-;
been allayed. The crowds at the banks
are no larger than ordinarily. Ina
bility to obtain money for speculatio'i
in margins caused some weakness on
the hoard oT trade, many holders be
ing unable to carry lines for a Ions '"
On Entire II:inI tit KrlMeo.
San Francisco, Oct. 30. Acting on
advice of the Clearing House associa
tion, the savings hanks of San Fran
cisco yesterday decided to place their
depositors on a "notice basis." Thcji
will not pay out funds unless notice 1
given ranging from 10 to 00 days, ac
cording to the sums to be withdrawn.
Comm to Aid of Country Hanks.
Olympia, Wash., Oct. 30. Governor
Mead stated last night he hail declar
ed a legal holiday for the balance of
this week. The measure was taken
principally for the protection of coun
try banks, and their requests for mon
ey having been denied by banks in
the clearing house cities.
Small Hun nt IMtlxliurK.
Pittsburg, Pa., Oct. 30. A run start
ed shortly before noon on the All Na
tions bank, a small concern, the d
mostly foreigners, became
frightened over a report that one S,
the bank officers had kit the city
This was promptly denied by the pres
Trying to Inrrrnr Circulation.
Washington, Oct. 30, The comptro'
ler of the currency under direction of
the secretary of the treasury, is mak
ing a special effort to increase the
circulation of national banks where
the maximum amounts are already
taken, and in the money centers.
where the increase will be most bene
ficial. It is expected quite a large ad
dition to the circulation will be tho
LA FOLLETTE BOOM
IS SET IN MOTION
Meeting of Friends of the Wisconsin
Senator Results in Organization to
Push Him for President.
Madison, Wis., Oct. 30. The La Fol-
lette boom for the republican nomina
tion for the presidency was formally
launched at a conference of 50 prom
inent republicans of the state here yes
terday. A campaign committee was
appointed consisting of- three mem
bers from each of the 11 congressional
districts of the state. This committee
elected an executive committee of nine
members which will have active man
agement of the campaign, both in Wis
consin and in other states.
The name of the committee is "the
I.a Follette presidential committee."
State Senator A. W. Sanborn of Ash
rnH was elected chairman. Assembly
man H. L. Ekern of Whitehall 'secre
tary, and Stale Treasurer A. Y. Dahl
of Westby treasurer.
HAS BEEN ATTACKED
Japanese Newspaper Gets Report Two
Torpedo Boata Have Mutinied and
Bombarded the City.
Tokio, Oct. 30. Jiji this afternoon
published a dispatch from Vladivostok
saying the crews of two Russian tor
pe;do boats mutinied and attacked the
city from the sea. Soldiers garrison
ing tire fortress responded with a brisk
fire resulting in one of the torpedo
boats being disabled. Jiji does not
vouch for the accuracy of the report.
STEVE ADAMS' TRIAL SLOW
Eleven Jurors in Box Since Friday, But
the Panel is Not Complete.
Rathdrum, Idaho, Oct. 30. In the
trial of Steve Adams, a member of the
Western Federation of Miners, charg
ed with the murder of Fred Taylor, a
settler, little progress was made yester
day in securing a jury. When court
adjourned Friday there were 11 jurors
in the box. Since then 80 talesman
have been subpoenaed, and from these
inot one was selected to fill out the
CALLS OFF STRIKE
Deposed President of Telegra
phers' Union Disregards
IGNORED BY NEW YORK MEN
Says He Is Willing to Await Vindica
tion at the Next Annual Conven
tion of the Organization.
New York, Oct. 30. S. M. Small, re
cently deposed as president of the
Commercial Telegraphers' union, ar
rived in New York from the west yes
terday and was refused permission to
address the local branch of the uuio.i
at a meeting in the afternoon. Last
night he sent out a statement to the
public "calling off the telegraphers'
After reviewing his efforts .o brin;
about a settlement of t ho trouble ad
vantageous to the strikers and the ac
tion of the union in declaring his ofiice
vacant and electing a snccessor, Small
Duty to Ihmic Ntntriuriit.
"I feel it my duty as the recognized
leader and legally elected president of
the aforesaid organization to issue this
statement, declaring a chaotic condi
tion to exist within our official ranks,
and further declaring the telegraphers'
strike unquestionably the greatest an 1
cleanest fought battle of recent yearSi
at an end, dating from Wednesday,
Oct. 30, l'.M)7, and on the following
terms, to wit:
.arl.v All ItrhiMlatrd.
"All strikers will be reinstated with
out discrimination, except those,
against whom serious charges can be
substantiated, the accused to have the
privilege of making defense in" writing
through me, when their case, will re
ceive prompt and careful considera
tion. "The 10 per cent increase .granted
March 1, 1907, will be strictly ad
"Other matters mentioned1 in the bill
of grievances to lie taken up and con
sidered upon my return to New York
within 10 days provided the strikers
accept and act upon these instruc
tions." Will Await Yinillrnlion.
Small declares he is willing to
"await vindication at the next regular
convention to bo held in Milwaukee
SHERIDAN HA0 THE MONEY
American League' Umpire Arrested
After Receiving a Beating.
Chicago, Oct. SO, "Jack" Sheridan
umpire in the American baseba'l
league, I. M. Olson, gate manager at
the American league ball park, K. O.
Glenn, a wealthy broker of Denver anl
M. J. Meyer, a cattleman of Cheyenne
Wyo., were arrested early today after
a fight in which Sheridan and Olson
were badly beaten. When the men
were searched at the station $2,700
was found on Sheridan. Later all the
men were fined $10 and costs each.
President Will Go to Vote.
Washington. ' Oct. 30. President
loosevelt will leave Washington fen
Oyster Bay next Monday to vote the
following day for two judges of the
court of appeals and for county and
SLIDE CRUSHES OUT
Tashkend, Russian Turkestan, Oct.
30. The whole town or Karatagh, in
Bokhara, has been destroyed and the
entire population, numbering about
15,000, buried by a mountain slide fol
lowing a recent earthquake there.
Governor Karatagh and his mother
were the only persons who survived
Confirmed fit St. PetetuburK.
St. Petersburg, Oct. 30. A dispatch
received here from Khokand, Turke
stan, confirms the Tashkend report of
ZERO AT ALTITUDE OF EIGHT MILES
New York, Oct. 30. That a balloon
has reached a height of 46.CS0 feet, and
there recorded a temperature of 111
degrees below zero, Fahrenheit, was
one of the statements made by Profes
sor A. LawrCnce Rotch of the Blue Hill
observatory, Boston, at the aeronau
tical congress yesterday. Professor
Rotch told of his long series of experi
ments with miniature balloons for the
purpose of testing the currents and
temperatures at high altitudes.'
The Walloons can-y special , instru
ments for recording the distance travel
ed,', th? altittide, and temperature.
When at a great height the balloon ex-
I plodes, and the parachute, carrying the
i instruments and records, floats down to
Operating Heads of Rail
roads (fleet and Map
Out Their Course.
PREDICT BIG SLUMP
Outlay for Purchase of Sup
plies Next Season Will be
Small Two Have Acted.
New York, Oct. 30. Men prominen.
ly. identified with the immediate and
pi ac tu al operation of the large rail
road systems of the country gathered
in this city yesterday and took coun
sel with each otlijer as to how best to
curtail the expenses of their respective
The general opinion expressed
J by the men was there will ' a mai.;-
rial reduction in the outlay for oper
ation of railroads and in the purchase
of railway supplies throughout the
I iilun r.u-illi- l.n.vM Vn' r.,o;K !lcn.
Omaha, Neb., Oct. 3'i. Five thou
sand men omp!o.cd in construction
gangs along the line of the Union Pa
cific were laid off yesterday, but the
move is no way related to financial
stringency, according to a statement
made by General Manager Mohler. A
reduction in track forces necessarily
takes place at this season of year on
account of shorter hours and coll
Mr. Mohler raid all work not abso
lutely necessary at present, was being
stopped. All men engaged in new
work all 'along the system are being
laid off. This includes the grading
outfits on Lane cutoff, 'on which $!,
000,000 has been expended to save 10
miles of distance.
t Morr 1miIiIo Trncklnx.
Work on the construction of new
lines in Kansas, Nebraska and Col
orado has been stopped and all the
engineering gangs in the field and ail
men engaged in double tracking have
been laid; off.
In explanation of this Mr. Mohler
"We are doing at the present time
an exceedingly large amount of im
provement work ami have iit our
property in the best physical condi
tion it has ever known. Therefore the
opportunity for reducing our forces
comes earlier than usual and has bee.i
acted upon. We are continuing all im
provement work which can be done to
advantage and which we can utilize,
and work which cannot be carried on
at normal expense will bo discontin
ued." SliopM tint AfTrrtrd.
None of the shop forces have been
laid off. and no reduction there is con
templated. Nor has there been any
red uct ion in the number of employes
in the traffic or other departments of
the almost complete, destruction of
Karatagh by a landslip following a
great earthquake Oct. 21. An enormous
section of Karatagh mountain hanging
over the city broke loose, and slid
ing down, almost completely buried the
city of Karatagh.
Peoria Strike Ends.
Peoria, 111., Oct. 30. The distillers'
strike, involving 700 men, is settled.
The employers signed a schedule, ac
ceding the demands except the recog
nitiou of the union.
earth. Practically all of the tempera
ture balloons have been sent up from
St. Louis. The longest flight was 155
Professo Rotch said that his expert
menta showed that at eight miles from
the earth the temperatures, which had
been falling rapidly, began suddenly
to rise again. Similar warm strata had
also been discovered over Europe, he
said. - .
The United States weather bureau Is
to continue the experiments throughout
the country, to investigate the action of
storm areas and cold waves.
Oscar Erbsloch, winner of the recent
international race, has received a mes
sage from Emperor . William congrat
ulating him on the .victory.
WAS CREW EATEN?
Forty Men Who Manned Sailing
Vessel Believed to be Can
WRECKED OFF SOUTH AMERICA
Derelict Found Off Terra Del Fuego
and Island Is Now Being
Searched for Survivors.
New York, Oct. 30. Eaten by canni
bals was probably the fate of the crew
of 40 sailors that took the big sailing
ship Arthur Sewell out of Philadelphia
April 3 on the start of its long voyage
to carry coal to the Philippines.
Word has just been received at the
m'aritime exchange that the vessel was
wrecked near Terra del Fuego and a"
signs point to the survivors having
been captured by the cannibals ths.t
infest the island in that vicinity. The
news of the wreck and the almost cer
tain fate of the crew came from th-3
sealing steamer Fridthjof.
Since the Arthur Sewell sailed not
one word was received regarding it
until a letter came yesterday from
the Norwegian sealer. The Sewell' 3
first stopping point was to have bee.i
Finds '1'rjK-cn oi Mm.
The Kridthjof reports that on Aug
lift, while cruising near the southeast
headland of Noir island, half-way be
tween Cape Pillar and Cape Horn, the
lookout reported a derelic t ahead. The
derelict proved to be a four-mast ei
square-rigged ship that in every way
answered the description of the Sewell.
As the wreck was evidently very re
cent, the Fridthjof's captain made in
vestigation in the hope of discovering
some of the possible survivors. O-i
tho shore of Noir island a landing
party from the Norwegian vessel dis
covered traces proving that a consider
able party from the wreck had mad-i
its way to land. The trail. led away
from the beach.
l)nni;rr Kmln Search.
The sailors from the Fridthjof fol
lowed the trail as far as they could
make it out, but finally had to abandon
the search owing to the danger from
the cannibals that inhabit the island.
The fate of the shipwrecked sailors
seemed certain to the men from th-?
sealing steamer. The natives on the
islands in that part of the sea are can
ninals of the fiercest kind and ship
wrecked sailors could have little hope
of escaping from them.
In the hope of discovering some
thing more about the fate of the shiii
and its crew divers with a strong
party have been sent to Noir island.
the road. Omaha banks have arrange 1
to furnish cash for the payment of
wages to shop employes.
Somo track men have been laid o!T
on tho Burlington also on account of
the approach of winter.
Orrenn Short l.Inc nt Korcrn.
Salt Lake City. Utah, Oct. 30. Vice
President Bancroft of the Orego'i
Short Line, part of the Harriman sys
tem, 'ast night ordered a sweeping re-
ductVm in the forces engaged in con
struction and maintenance work on
DAMAGE IN TEXAS
Wires Down and Buildings Unroofed
But No Fatalities Result In South,
em Part of the State.
Dallas, Texas, Oct. 30. Telegraph,
telephone and trolley wires are down
in southern Texas today as the result
of a severe windstorm that passed
over that section of the state early this
morning. At Galveston several houses
were damaged by wind but there were
no fatalities. At Houston and Beau
mont the storm did. much, damage to
wires. Outhouses were unroofed but
no one is reported injured.
ALFONSO AND ENA ARRIVE
King and Queen of Spain Met at Lon
don by Royal Family.
London, Oct. 30. The king and queen
of Spain arrived in London last night
It was raining hard, but in spite of the
depressing weather their 'majesties
were met at their station by members
of the English royal family and the
Spanish ambassador to Great Britain,
Senor Villa y Urrutla. The visitors
drove at once to Kensington palace,
where they will reside until next Moa
FINNS VOTE TO PAY RUSSIA
Compensation Given for Exemption
Helslngfors, Oct. 30. The diet yes
terday adopted by 101 votes to 91 the
proposed appropriation for $4,000,000
as a biennial compensation to the Rus
sian government for the exemption of
Finns from service in the Russian
army. At the same time It plainly in
timated that no further money fo:
this, purpose would , be forthcoming
and it urged the emperor-grand duke
GOES TO CHICAGO WITH
. WARRANT FOR GROSSCUP
to reestablish the national army if
Finland. It is understood that the em
peror-grand duke insisted personally
on this payment, to which he consid
ered Finland's faith to have been
BUTTE MINERS GET .
LESS PAY NOV. 1
Union Agrees to Go Back to Old Scale
of $3.50 Instead of $4 a Day,
Butte, Mont., Oct. 30. The miners'
union has received notice from the
Amalgamated Copper and other mining
companies that the old scale of wages.
in force before the agreement on the
sliding scale was made, will be restored
aov. i, in compliance with the con
tracts entered into by the comitnnics
and the labor unions of Butte, and no
tices have been posted in the halls of
the organizations. The miners' union
issued a statement some time ago to
the etlVct it wit abide by the contract
made with the miners. The reduction
will be from $1 a day to $3.50. About
7,000 men are' involved.
TOBACCO WAR IS
bociety of Equity Trying to Pool 190
Crop and Drive Buyers Out
of the Field. .
Louisville, Ky.; Oct. 30. The war of
the American Society of Equity against
the tobacco buyers in western anl
central Kentucky is becoming serious.
Every effort is being made to force
the growers to pool the. l'JOT crop and
induce buyers to quit the field. In
terest centers in McJ-iCan couuty. AI
though the growers are thoroughly ii
earnest they have not so far attemptel
"V ... - - - -T
FREE TRADE, NOW
Change Mind Regarding Danger of
Bringing Islands in Too Close Re
lations With United States.
Manila, Oct. 30. Leading Filipino,
are now asking for free trade with th?
United States. Heretofore they. have
opposed tariff reforms on the ground
they would bind. the Philippines to.)
closely to the United States ahd cn
danger their ultimate independence.
OPERATING FORCE STRIKES
Division on the Mexican Central Com
pletely Tied Up.
Mexico City, Oc t. 30. Not a who-?!
was moving on the Tapico division of
the Mexican Central railroad all of th-?
operating force having walked out yes
terday. The strike was caused by v
quarrel at Cardenels between a con
ductor who -is said to have been drink
ing and a chief dispatcher and resulted
in three Americans being taken to
prison whereupon the operating fore
refused to work until they were re
leased. ' ' '
University Secretary is Dead.
Sewanec, Tenn., Oct. 30. Robert M
Dubois, secretary of the University of
tho South, died last night.
New York, Oct. 30. The quarterly
statement of earnings of the United
States Steel corporation given out yes
terday made a good showing, as the
net earnings of $43,S0t,2S5 are th-3
largest for any similar quarter in the
history of the corporation. They were
much better than had been cxpectei.
The unfilled orders on hand, reported
at 6,425,608 tons, reflect the slacken
ing in tho steel business, comparing
with 7.03G.SSS tons three months ago.
The directors declared (lie regular
quarterly dividend of 134 per cent oa
tho preferred and one-half of 1 per
cent on the common stock.
Vnrtn by Chairman Gary.
Chairman E. H. Gary made a state
ment to the board of directors In which
he said: -
"On June 30, 1907, our company hal
on hand unfilled ' orders aggregating
7,603,878 tons. On Sept.-30 this ton
nage had been decreased to 6,425,003
tons. This has since been decreased
by about ,400,000 tons. 'Bookings are
now at the rate of 18,000 tons a day.
We are exporting at the rate of about
1,000,000 tons a year and at prices bu'j
stantiallyt on,, a parity . witb. domestic
"From information received it Is b
Sheriff of Coles County
Will Try to Arrest
RESULT RAIL WRECK
Francis S. Peabody, Another
of Indicted Directors of Mat
toon and Charleston Road.
Charleston, 111., Oct. 30. Sheriff Slo-
ver left today for Chicago with war
rants for Judge Peter Grosscup of tho
United States court of appeals and
other directors of the Mattoon "and
Charleston interurban railway, includ-
ing Francis S. Peabody, whose namo
was among those indicted yesterday.
May lilt Othri-M.
The graud jury is still in session,
and it is predicted other indictments
will be returned. The men indicted
yesterday will be arraigned Monday,
next ami given preliminary hearings.
Moti!s will be made to quash the in
dictments, amt if overruled it will bo
annetneed the defendants will bo
ready for trial at once. The local men
indicted "have been released under $5.
om bond, and the same bond will bo
required of the Chicago defendants.
The case will be heard before Judge
Morton V. Thompson at Danville, 111.
Third Serioiin Arrlalent.
The indictments are a sequel to the
wreck of Aug. 30 on the interurban
line, in which 17 persons were killed
and more than 50 injured. It was the
third serious accident on tho road
within three year, and the officials of
the road were blamed. The penalty
for involutary manslaughter, of which
they are accused, is a penitentiary
term or from one to fourteen years.
Motorman Benjamin McClara" to
whose negligence the wreck was ascrib
ed by many witnesses, was not indict
ed. It is intimated that a more seri
ous charge than that made against tho
others is pending against the motor
man. ' KerlltiK Im HH(-r.
The feeling against the directors .of
the interurban lino has been bitter in
Mattoon and Charleston, where scores
of the relatives of the wreck victims
reside. The true bills against the Chi
cago directors and officials of the line
are said to have been vcTted almost
unanimously by the grand jurors.
Motorman Botts. who was in-chargo
of the car struck by the one guided by
Motorman McClara, is scW to have
been indicted only by a bare majejrity
of the grand jury.
The sentiment against the indicted
officials of the railway line will pre
vent a trial of the case in Coles
Dynamite Explodes in Home.
Stevens Point. Wis.. Oct. 30. Mrs.
Nicholas Kitowski, aged 41.' of Carsou,
this county, was literally blown to
pieces yesterday iy the explosion of a"
sticjv of dynamite that had been placed
on the kitchen stove to dry.. Two
children clinging to their mother'
skirts when the accident happened,
Were so badly injured they will die.
FOR U. S, STEEL:
lieveel the demand for our product
has during the last few years bee:i
constantly increasing and that tho
present necessities are great.
"Prices have been well maintained.
The leading steel manufacturers arj
in frequent consultation, thought unelc;r
no agreement concerning their busi
ness interests. It eenis to fie a ref&tj
nized fact that stability of prices is tJ
be desired by both the producer anl
the consumer; that extremely high
prices and extremely low prices aro
both objectionable. .,
HMrve Knnd front Kara in kh.
"Since the corporation waa organ
ized, in addition to the' payment of,
dividends -and interest there has beot.
provided from earnings a reserve for
extinguishment of capital of $73,750,
000, and there has been added to. the
assets from the same source $266,
180,000, which includes Investments in
additional, property, $112,850,000; ad
ditional fixed property represented by
securities created y and - held , lnr tho
treasury as salable assets, $48,400,000;
liquid assets on hand, $104,930,000. .
"The total assets of the organ izatioa
Oct. 1, 1907, amounted tcv $331,596,003,
cash in banks being. $75,973,000." -