Newspaper Page Text
mi: kuck island ahgus. i'ijiday, octohkk j. mi.
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' Illlllllillllllllllllll MM I1IIINIIIIIIIIIIIIIIIII1IIIIIII1II llllll II Mllll I 111 I I IVI IVI l K h' I h' I I I V
n ! i i$ 'melius MdL
Advantages of the Improved "Laurel"
The many improvements whih have been worked into
this range make it. without question, the most efficient and
successful jet designed. In construction and in finish in
design and working qualities it is without a peer. For it
is TWO STOVES IX ONE! It is a complete coal range as
well as a gas range! It will burn either fuel or HOTH AT
THE SAME TIME! We will prove its heat-retaining qual
ities by tying a row of sulphur matches around the pipe.
The matches will not be ignited because in this range ths
heat stays inside the stove it does not escape up the flue.
And the LAUREL range in our window is exactly like a
watch in its fittings.
Cooking is a real pleasure when vou operate a LAUREL
COMBINATION COAL AND GAS RANGE! No more
TERMS ON ANY RANGE
$1.00 per Week
WW B& EPS
t ti rv y a
"dead fire" in the coal stove no more vexations when the
draft is slow, for a "Laurei" burns coal and gas at the
same time or separately.
The HEAVY CAST-IRON CONSTRUCTION is proof
against moisture from gas, and the castings throughout are
of the highest grade.
The PATENTED OVEN CONSTRUCTION assures an
even baking temperature at ail times.
The LARGE TOP, with four coal and four gas burners,
gives you a cooking capacity .,.r7 more than with anv other
stove. The LARGE FIRE BOX. PATENTED GRATE and
LARGE WARMING CLOSET all combine to make, this
stove "a marvel of stovecraft."
And Saturday you will see it demonstrated in the Sum-
merfield Store! This Illustration shows the eight-
humor top and oven construction of
the LAI HKF. COMBINATION COAL
AND GAS RANGE.
II3-H5 Egjst. b AV EMF
ei. sjBa Arrn a ' o inn
ft . -r-nr . M klulVl
S ON ANY RANGE
$1.00 per Week
NEW YORK CITY'S BOND DEAL
British Officers Lost Lives Fighting for Country
The issue of $1'.I''.0.iOO fix per. that the citv's contract with the hold-!
c-nt nottra of New York Cifv were of-1 er of the thort time notes was to!
ferel to tn public on Sept. I" at lay down pounds in hondon ami francs;
the exact price at vl;i-li the banks and ' in I'nris. to perform that contract it;
tru.-t compar.i. s united to take them. ' mu.-t tjitiier pet actual Kold. send it to i
They are ofi'ered bv J. I. Moruan i : thos-e cities, in substance deliver this.
Co. and Kuhn. l-'j t Co.. synuicattr old to the Knslish and French au-i
v. auasers. thro ihout all the larger , thorities respectively and receive;
.::".- of the I'r.i'.ed States. This ac- ; pounds and francs tnerefor and pay I
tin. ojp!e.j nj:ii t:i trar..-fer ti Ot- ' those pcxiads and francs to the crcd
ta a by J. P. M.-irsan & Co. of $';.".4".- itors. or, if It did not want to ship'
""i. a:id tile der-osit on Si-.t. 16 by the i tho ac tual sold, it inuit buy exclianse,
prtif ipatinc banks and tru.-t com- at the current rates. On August 1.
rar.ies of the tir.-t installment of the' 151 1, however, the ratt- of exchange:
was between $0.00 and ?7.0o per pound j
in London, which meant that if tiie :
city bought exchange to pay its d.-bl ,
abroad, it would require so.m taint; in j
tii neighborhood of Jlit.Ooli.lKio to dis- :
!-J3 arnounrins to $ (.I'T.MO, adds an-cthf-r
chapter to one of the most re
roar Ki iiie financial transact inns in the
h::ory of the country.
V .on the European war broke out.
the t:'y i,? New York found itself in
bn -r.:;rely unprecedented situation.
1'se many .f tiie tmailer cities and
town- of the couatry. it is tiie prac
t'cp o! New York City to borrow
Rjf.ney on hort time notes durii.s ihe
s-pr:r.f tit every year and to pay the.-e
rhort time notes out cf tiie taxes -ol-1;'.
. 'J in the faii. Some yearg auo a
Tri ' 4
1 k'f. A )L
t of sold, which went forward to Ot
tawa in two shipments, one on Sept
ember 14, tiie other on Wednesday,
liy the sale of the notes at exactly
the same price at which they were
purchased, the subscribing banks and
trust companies make nothing on the
purchase of the notes. On the agree
ment to pay for the London and Paris
Dotes a fixed s.im, there is a possible
profit of 2 per cent,, which will go to
the subscribing banks pro rata, but
no pcrtion of which is retained by
the syndicate managers.
charge an indebtedness which the fit"
had expected to discharge by the pay
ment of approximately $SO.)00.00.
The city officials had made their
riolts payable in pounds and francs and
negotiated them in London and Paris
because of the lower rates of interest
prevailing In those capitals, some of
the notes having been" negotiated at
rates which cost the city less than :5
Left to right: Lieut.-Col. Brett. Col. G. II. Ansell, Col. R. C. Bond. Capt. J. II Knowles, Capt. C. K- Lumsdrn and
Lieut. Viscount Hawardi-n.
Here are a few of the scores of Ihit- tin.; l'.t.:ni.i-t -families which have giv
ish otlicers who have died on Kuropean I cn tiiei." sons to the service of the Km
li. s-'.. O. Viscount Hawarden was the
battlefields. Mortality among them
has been higher than among the com
mon toldier.-., due to their practice of
f,'.4"c- was made in tiie method of col-
the taxes in New York, by ercent per annum. Nevertheless, t lie
.. ii the taxes ar" j aid in two equal fact remains that the contract was to
m;i!:mLl-, th first beginning on pay in pounds and francs and the city
sixth viscount and a second lieutenant
lor generations. Colonel It. C. ! i the Coldstream gi.art'.-.. Col. I . K.
. I. C. ().. saw muc'ii active sit-! u-cll of th; fifth ilra-oor. guards was
!vi-e, a::d earned his I. S. O. in South ! only forty-two. i disr!:.gni-lied him
i Afi Ira. Lieutenant-Colonel C. A. ll.isell' i. !!: i'Uit. ir.(av. war, was
leading troops in person .and their ab- j Brett. 11. S. O.. of the Suffolk regiment ! mi nt i.Mied in dipai'!i3s. am: e.ir
sol'He frarU rsness in battle. 'served in the Ilazara expedition and j mat h-: for s'lfT e i p..vuient I'..- bj-
fliesix men shown here, in addition! in South Africa. In the" latter cam- t came a lieitte- !.! c;1oihM in -311- 7'he
p.iign lit wa.-; sevei. ly wounded. Men- I nllicers sln n her-. r.. . ::.a.ie uni-
lied in :s'i..tth and receive! theiliant records in me rsruisn army.
This possible 2 per cent profit to tha
bank will be considerably reduced in
the case of those banks w ho elect to
pay in London exchange instead of in
gold. For instance, on the first call
for $S,2r7,400 of gold approximately
$1,000,000 was paid in exchange. As
the exchange was only counted as
worth $4.90 by the syndicate managers
and as the price of exchange on tin
banks which supplied such exchange
evidently preferred to take a loss ol
i almost two per cent on this part of 1h
transaction rather than surrender theii
to being ollicers of famous fighting reg
intents, wer members of famous fight
1 and tiie second on October 1. i must c ither take gold to the places r -
The a:,nijl expenses of New York city, where the payments were due and get , pPr.at.Kt value to American business
trp --' iarc. amounting in ial4 to
upv. jiri.- cf J i:o.oi.ooi. that this
t.'iar.i' sti,l leaves tiie city of New
S'v. W.rk wi-h a large amount of
rut-:andirig curre nt inuebiedness when
!' fa i! ( t t je yenr -approac he.
Ti.e jty short time indebtedness
g.f 'irir.z abroad between September
I. I'jU. iiid Jat.uary 1. l')l.". arnoutit
! to sipprox.-'nately $0,0oo,0fi0. This
ir.ii! h'erji,e--. however, wars not in dol-'.-'.
It was in pounds sterling pay
ih'f in I.-,'!on and in francs payable
ir. I'ai.'-. Tiie irideljtedness can only
h" s; u : roughly in ilollars by taking
f' e a-. raire rate cjf exchange w hii ii i
'iii'ii: Si ' per pound. Iteinemberinir
for all time to come.
: Comptroller William A.
clara' ion of war. At the request of
Comptroller I'rendergast. Mr. Morgan
undertook to form a syndicate of all
those pounds and francs, or it must
' buy exchange in the New York market
, rievTiite what it cost. The efT. cts noon
tiie individual and the aggregate pros--t to J. P. Morgan on the 10th of
peril y of the citizens of the Cnited ; August, and Mr. Morgan advised him
States of New York City shoul.l default that the city ought to be prepared to
in its contract could hardly lie over- send the gold, and if it were thus pie--.timated.
The liquidation of Anieri- pared, then quite possibly it might not
can securities by Kuropean investors be required. Hut to send $SO.0OO.tHi0
would be hastened if one of the prcm of gold to Kurope would require the
ier American securities were in default ' co-operation of all the banks in New
Put. on tho other hand, if Kurcqn-an-m-. York City. It would mean a fuither de- Ulle ,,aks and t rust companies. They
vestors haw that regardless of war con-. plelion of the gold reserve of New ra a, t,I(1 w;iy f roln ti,,, great in-
ditioiis. American nuimcipaiiiic s ami i l ork city at a lime wncn. tnose r s,:tlJ, ;OI,
i the New York banks, under the leader-
j ship of J. P. Morgan and Co., and Kuhu
I Loeb and Co.. as managers of such a
syndicate. All the banks were to lie
asked to come into it and the syndic-ate
managers tendered their services
w i hout compensation.
There are in Ihe city of New Yotk
'one hundred and forty national banks,
;ind ; York City at a time when, those re
cordations would live up to tne.r ob- serves were already greatly reuueeu n ! jjq.t r.oo.Oiiil to small concerns in tits
h -'.tt '.ns to the letter, the f.i vora !! . the drain of gold to Kurope during the '.,, l.oroughs. with re source s as
irnent.-il effect would be of the! week in niediately preceeding tile de-
mittee consists of Albert fl. W'iggir.
chairman, William Woodward, James
S. Alexander, Clarence H. Kelsey,
Stephen lfaker, and President Francis
L. Mine, ex-otlicio member.
The day of closing in the Morgan
oft ices at 15 Broad street presented
one of the most interesting spectacles i
that Wall street has seen in many
years. It was not until late. Thursday
evening September 10. that the mu-j
nicipal boards and officials had rou-i
eluded all the necessary arrangements. I
with resources of upwards ot j Petween midnight ana tno following,
morning, notices to the one hundsrd I
and forty subscribing banks leit the:
THE, 3 EE, HIVE
A Splendid Store for Stout Women
Stout woiiK ii. larcrf wmicii, wlio find it tliHi.-ult to
oltt.-iiii u vi'i t t tittinir, c .iiifrt:il. Ic, rc ;id-to-wc;ir will
find this store jn j.;ir I to fulfill their wnut tliis season
Le tter tlian ever heforc-. (.arnifnts not only in large
sizes hut cut in right proportions throughout.
: low as $:fi0.(ioil. The officials of every j Vorgan offices. These notices railed
one of these banks and a.Td trust coi ;- j for payment ort the same business day. I
'panics had to be seen personally. Inpayment had to he made by check to;
'many cases it was necessary to hold 1 the order of the City Chamberlain, who j
; meetings of their directors before their j endowed the check for deposit in tiie j
! co-operation could be counted upon. subscribing bank. The City Chamber-1
The work had to be done quickly, fori lain had to draw a warrant upon the j
: t lie day of the first maturity of the for-1 Comptroller, authorizing him to deliv-j
eign notes was approaching rapidly. cr th bom's. The syndicate nvinasers j
1 The plan involved two distinct con-jhad to deliver to each subscriber a!
1 tracts, first, a purchase by the syudi- j certificate evidencing his interest in i
, cate of $100,000,000 per six per ce nt , the i radicate. .All the notes had to be I
'notes from the city of .New York, the f made out. the accrued interest on the!
Suits, Coats, Skirts,
iverv department hohN something of interest to the
an who wears a size larger than those to be found
in most stores.
The "Bee Hive on the Corner
Second and 'Brady, Streets Ttabtnport. litea
e:'-rs; and 'second, . an agreement to ; date of closing figured, the amounts;
! pay up to SO per cent cf the purchase) of l lie subscribtion of the one hun-j
i price in gold, as the syndicate mana-j dred and forty banks being in various
1 gers required the same, in order to a: ounts. from $.1.0(10 to $6,000.000.,
; pay on the foreign debt. The pro rata ; Within twelve hours after the e-al!s fori
amount to be taken by each bank and : the money left the Morgan offices,!
trust company was estimated and the I Sf.Ooo.onO of the $100,000,000 had been !
anil the officials of the bank and trust 'paid in and the various papers deliver- j
'companies were individually conferred j t d. and in three hours more the entire'
'with, the city's position explained to ; $100 eiOU.oOO had been paid in and the I
Hit in and their subscription H tiie byn- transcation clo.-ea. i
In all these negotiations with the
bank-; and trutit companies In Greater
York Clearing i
On Wednesday. September lt. the j
first call was made upon tho sub-1
scribing banks for the gold. One bun-
dred and forty checks drawn iio rata;
N' t n- VnrL fli New
I house committee took an active and i upon the subscribing banks were de-
! patriotic part. Realising the great ef-j !i; ert d by the comptroller to the s;i-;
jfeet whic h thi transaction might have ' die-ate managers. The syndicate m m-j
i in fae 'litatirig shipments of grain, cot-i aBe-rs were notified of the amount of
'ton and other commodities from all I their contributions in gold. This gold i
lover the- couutry, the committee lent! was taken to tiie office of J. P. Morgan'
j most active -ci-op"ratioii and within jand Co., and the checks deli ve-red to the j
i tiie days alter the Clearing House com-j subscribing, banks against the delivery I
ruitte-e approved tho plan, subsc rip-j of the gold. Meanw hile, for the m i-I
lions had been received for fS and one , tuii; !es. w hich fell due before the gold
! haif per cent of the tnl amount, Ih" could be collected from the sub-.crih-j
..vi-'iic ate inanacers su h.ie rihine fur the lag banks, the Fypdic-ate ntaf.-gfrs '
.....!:. tier. The Hauav com- j thet.'i.-elves atrange d for au advance
e proud to
s you ars. willing to pay
If we can give you a perfect fit in a $10 II-L Suit,
made of colors that will not fade cloth and lining
treated by a special process that prevents shrinking
all seams double sewn with cvtra strong silk thread
belt I(x)ps and side buckles trousers
turned up at bottom if desired "-honest
materials and workmanship through
out if we can save you $5 to $&on this
suit, you will buy it then and there.
New exclusive patterns
received weekly from
our New York factorv.
Dress better for
Best Cap ever sold for - 50c
S3 Celebrated Hurle Hat $2
$1.50 Quality Caps $1
$1.50 Rainproof Umbrella - 75c
$2 and $3 Iixtra Value Trousers
$12.50 to $1S Special H-L hand
tailored Suits and Overcoats, saving
$5 to $S.
II -1, Made - to - your - own - measure
('lollies, $20 and up.
Tuxedo Silk Faced Suit! - SIO
Best Full Dress Suit - $12.50
Ask to see our new HjJmacaan Ovcreoutv
Myles prices that will please you.
Come in and see for yourself