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V- 'f- *. V^ .,»t-c lvJ«rJ VOLUME 6—NUMBER 2. POOL HEADED BY MORi POURS $25,000,000 ONTO THE MARKET Call Money Was at 100 and Brokers Were Selling Stocks Wild—To Save Situation Morgan and Others Distributed $25,000,000 on Stock Exchange—Call Money Drops to 10 and Stocks Leap Up—General Situation Clearer. New York, Oct. 25.—As a result of yesterdays developments In the finari-| °ial wol'ld there 18 every Altb°u£h I $ & w*i!S-Si8 «Vt MORGAN'S MILLIONS MAINTAIN MARKET indication, 4-V»rtf +V.« a^co i-n nn^l tniaf that the crisis in banking and trust company situation has been safely passed. The Trust company of Ame rica paid out money to depositors as rapidly as possible and closed with all demands having been met. A favorable feature of the situation respecting this company was that it was able to make its payments with little assistance, and another was that the company received over its counters in the morning hours in ordinary deposits more than $1,000, 000. At the close of'tfie day's'•busi ness Mr. Oakleigh Thome, president of the company, said there was abund ant cash in the.company's vaults to meet the situation and that he had no apprehension whatever regarding the institution. It was the general impression In financial circles that this company having withstood a two day run with so little 'trouble was undoubtedly in good condition to continue its business. rT Atmosphere Clears As thV Trust Company of America has been the center of the reoent financial storm, it was accepted that the ability It has thus shown to weather the storm was a clear indica tion that the financial sky had clear ed and that a period of fair weather was now well in sight. The day was marked by three noteworthy episodes. First and earliest .in the day came the announcement of trou ble in three minor state banks in Harlem the Harlem bank, the Twelfth Ward bank and the Empire City Savings pank. These banks transacted only neighborhood busi ness, and their suspension of pay ment was absolutely without signlfl cance bearing on the general situa tion. The Empire City Savings bank was' controlled by Tammany Hall politicians, and Its business opera ttons were confined to a small area. 1? these banks were obil- gated to close because of a lack of ready cash, State Bank Examiner Judson declared yesterday afternoon that all three were solvent and that their depositors would lose nothing. '^*§1 The second episode was-the run. "inaugurated against the Lincoln Trust company. The run against this company was steady throughout the day, but the sums withdrawn were not large. Morgan Gives Millions. By far the most notable, even dra matic, episode of the day waS#the emptying .of $25,000,000 into the stock exchange through a pool head ed ty J. P. Morgan and other finan ciers in order to avert a ruthless selling out of stocks held by brokers. A remarkable Condition brought about this extreme stringency of money, which had gradually forced the interest rate up to an almost unprecedented figure. One institu tion that engaged in this practice was Itself a member of the clearing bouse and was severely criticised by other bankers .for its action, on the ground that it added an unnecessary complication. As the result of the criticism this institution withdrew its support and declined to offer ..money on call on the stock exchange. Call Money at 100 Per Cent.! The effect of this was to run the rate for money up to 100 per cent, and when that figure was quoted an extremely sharp decline in stocks, re sulted. Notwithstanding the high rate for call money that might have been obtained, the National City bank, John D. Rockefeller personally and other prominent moneyed Inter ests sent funds to the stock exchange to be lent at the normal rate of 6 per cent. These sums, however, were not sufficient to meet the demand, and for a time there was great con fusion and a hurried selling of stocks on the exchange. The Morgan pool brought -money Into the loan corner of the exchange, where it was quickly distributed in such lots as' would be most effective in rendering support.' The effect of the relief measure was instantane ous, and the rate on call money dropped from 100 to 10 per cent. Stocks advanced more rapidly than they had declined. A Hundred Million for Relief Seldom, if ever, had the veterans of finance seen a great situation saved so quickly and effectively by such a Napoleonic stroke. The close was marked by a memorable scene in which the brokers gathered around the principal" tTadi^ng "posts" and gave three cheers for J. Pierpont Morgan and the members of the pool which had saved the day. The aggregate amount of money which had been contributed to weather the storm and restore confidence assumes truly colossal proportions. Roughly esti mated, it includes the $26,000,000 which Secretary Cortelyou deposited in New York banks, $25,000,000 which the Morgan pool brought to the floor, $10,000,000 which JohnD. Rockefeller.- deposited with the Union Trust Company as a means of stem ming the tide of the Trust Company of America, and finally another $50,000,000 which it is understood Mr. Rockefeller stood ready to ad vance to meet any further stress of conditions—in all considerably in excess of $100,000,000. Run On Providence Bank. SKs Providence, R. I., Oct. 25.—For three hours yesterday a steady stream of depositors passed before the win dow of the paying teller of the Union Trust company of this city and withdrew the amounts they had deposited in the institution. When the bank closed its doors for busi ness at 3 o'clock there were between 100 and 150 depositors waiting in line. Officials of the trust company seemed to manifest no uneasiness at the situation, and when the bank was closed Vice President and Secre tary .Michael Dooley told the deposit ors that payments would be resumed today. mgnrs jwenra.figpgs^ tarn New York, Oct. 25.—The develop ments of last evening, during which, as was the case. Wednesday night, there were several conferences. In cluding an issuance by State Comp troller Martin H. Glynn of a state ment on the local financial situa tion and the announcement of plans for the rehabilitation of the sus pended Knickerbocker Trust com pany. The tentative plans for the Knickerbocker, as outlined by one of the officials following a meeting of the board of directors late yesterday, provides for the formation among the directorate P°°l of some $5,006,000 to guarantee the re demption within two years of inter est-bearing certificates, which will be offered in settlement of the ac counts of the company, which can not be liquidated at the present time, Pittsburg Situation. Pliisburg, Pa., Oct. 25.—Late yes terday Walter D. Updegraff, secre tary to George Westinghouse, was appointed receiver for the Nernst Lamp company, the fourth Westing house concern embarrassed by the money market stringency. The ap pointment of 'receivers tor the four Westinghouse companies places them on a better tooting. The failure of the Iron City Trust company had no bad effects, and millions of dollars deposited by the government caused a teellng of Confidence. The Pittsburg Stock Exchange remained closed vail day, and will probably not resume trans actions until next Monday. F0RMR VICE PRESIDENT OF MTJ- TUAL LIFE INSURANCE CO. vV^IS CONVICTED A First Conviction Resulting From Legislative Investigation of Insur ance Companies—He Swore Cer tain Money Was His, and Later Admitted It Was Not. New York, Oct. 25.—The first con viction in the eases based on dis closures in the'legislative investiga tion of insurance affairs in 1905-06 was obtained by the district attor ney's office last night, when the jury in the criminal branch of the su preme court found Dr. Walter R, Gillette, former vice president of the Mutual Life Insurance company, guilyt of perjury in the third de gree. The verdict was accompanied with a recommendation for mercy, The maximum penalty for this de gree of perjury is ten years' lmprls onment. Upon ttie'regortof the jiiry. 'coun sel for Dr. Gillette moved for a. cer tificate of reasonable doubt and ar rest of judgment. Justice Dowllng announced that he would hear the motion next Monday, and meantime remanded Dr. Gillette to the Tombs, During the trial the defendant had been av. liberty under $10,000 bonds. Dr. Gillette is 67 years old and is well known in medicine, from the practice of which he retired some years ago The specific charge upon which Dr. Gillette' was found guilty was that he testified falsely before the grand jury on May, 24, when he was vice president of the 'Mutual. The indictment alleged that under ex amination by District Attorney Je rome he stated certain moneys in the Dobbs Ferry bank were his. per sonal funds and that subsequently, under cross-examination he had ad mitted the funds were really the property of the Mutual Life Insur ance company. FIRE RAGING AT WINONA, MINN. Winona, Minn., Oct. 25, 2 a.m. Afire which started in the heart of the manufacturing district at o'clock yesterday afternoon is de stroying the lumber yards and mill of the Schroth & Ahrens Milling company. A high west wind is blow ing and the residence section is threatened. The loss already is probably over $100,000. Three fire men were badly injured when their wagon turned over in rounding a corner at full speed. a. STRIKE OFF AT BUTTS Butte, Mont., Oct. 25.—The oper ating force of the Western Union and Postal telegraph offices resumed ser vice yesterday, and It is said the lo cal union will officially declare the strike off. The Anaconda Telegraphers' un ion, with which Butte Is affiliated, yesterday decided to call the strike off and return to work today. There are 16 operators in Butte and Ana conda, including the Associated Press operators, who have asked for rein statement. The Western Union opened its of fice in Great Falls yesterday, and according to reports received here last night Billings will be opened today. Pel POSTMASTERS MEET Washington, D. C., Oct. 25,—An important feature of the joint con vention of postmasters of the second, third and fourth olasses yesterday was the address delivered by Post master General Mayer. He urged an extension of the parcels post, the cre ation of a parcels post on rural de livery routes and the establishment of postal savings banks. •The second and third class post masters' association elected G. E. Marcellus of LeRoy, N. Y., president, and selected Indianapolis for the next convention. .Uvi^jSTc fj $$ -v ABERDEEN, SOUTH DAKOTA, FRIDAY, OCTOBER 85, 1907 UTES ON THE CHEYENNE RESER VATION IN THIS STATE ON THE WAR PATH. I Wild Indians From Utah Arc Again Uneasy—Have Beeii Quartered in This State for Some Time—Indian Agent On Cheyenne Reservation Wires ,War Department for Troops. Washington, Oct. 25.—The tribe of Ute Indians which more than a year ago wandered away from their reservation in Utah and created trouble in, Colorado and Wyoming by threatening to take the War path and raid ranches is reported to have again broken out on the Cheyenne River reservation in South Dakota, where the tribe was given temporary quarters. At the requeist of the sec retary of the interior, the war de partment has ordered troops from Fort Meade, S. D., to the scene of the trouble. The character of the out break is not known here. Troops Ordered to. Be Ready Omaha, Neb., Oct. £5.—A request was received at arm^ headquarters from the Indian agent at the Chey enne River reservation for troops from Fort Meade to subdue the Ute Indians, but no particulars as to the outbreak were given. A regiment stationed at Fort -Meade was recently sent to the Philippines So there is no sufficient force there to send against the Indians. Orders we£e given for all troops now at 'Pst't*M^ade aiftd those at Fort Robinson and the troops at Fort Madison to be In readiness to move on. short notice. Will Have Long March. Colonel Downs, special agent of the Indian office, is at jthe Cheyenne River reservation, and a telegram was received from him skying that the Utes had become unruly and troops are needed. Fort Meade is about 100 miles from the reserva tion, and it will be necessary for the cavalry to make a cross-country "hike," as there is no railroad be tween the two points. It was dissatisfaction with advan cing civilization that caused the Utes to leave their reservation in Utah and take the road the last time. The secretary of the interior finally agreed that the Indians would not be compelled to return to Utah, but that they must settle down on some reservation. At the Utes' request, the Cheyenne River reservation was selected and two townships' were leased for a period of five years, in order to supply them with homes. There are about 600 of the Utes that may be involved, including many young Indians, among whom the greatest discontent has been mani fested. Troops From Fort Deg Moines. Following instructions from Wash ington, orders have been sent to Fort Des Moines that four troops composing a squadron of the Second cavalry proceed with all haste to the Cheyenne agency, where, Indian Agent Downs is located. It Is ex pected the -soldiers will reach the end of the railroad tonight and will be at the scene of the uprising with in 24 hours thereafter. BAD EXPLOSION IN GAS PLANT Chattanooga, Tenn., Oct. 25.— Four workmen were injured by burns and two or three are reported missing as the result of an explosion followed by a fire in the plant of the Chattanooga Gas company yesterday afternoon. The fire was soon under control. The explosion Is said to ihavei been caused by the dropping of a lighted match over an open jetc tank in the purifying department. FISHERMEN LOST AT pEA Boston, Mass., Oct. 25---*nM fish ing' schooner Clara Silva, *bleh ar rived heer last night, reported that 12 o^ her crew had strayed away during a storm and that probably 10 ot them had perished. 'sM LAKE MOHONK CONFERENCE CONSIDERS OUR EASTERN POSSESSIONS. Congressmen Tones of Virginia and Driscoll of New York Against Sale of Islands—Would Have Natives in Control Colonel Halford liolds Present Management Lake. Mohonk, N. Y., Oct. 26.— The Philippic Islands and Hawaii were the themes considered at the Mohonk conference yesterday. The speakers were Paul Charlton Law, an officer of the bureau of Indian af fairs Thomas Lawler of Boston William Alexander Southerland* In charge of Filipino students in this country Dr. Arthur J. Brown, and Dr. C. C. Cregan, who represented the Presbyterian and American for eign mission boards, respectively. Congressmen Jones of Warsaw,Va., and Driscoll of Syracuse, N. Y., 't ipoke against the retention of the Philippines. They, did not favor the sale of the Islands, but advocated eventually leaving them to the con trol of the Filipinos themselves. Colonel Elijah W. Halford made a spirited reply, expressing his belief that the Philippines were under the present control of this country ", divine appointment. Hawaii was the subject of the evening session. The speakers, Dr. N. B. Emerson and Dr. Titus Coan, are. sons ot- missionaries and were,-born in'Hotiolulu. PLAN OF LENGTHENING THEE WAS NOT SUCCESSFUL AND W^gWILL BE SHORTENED. •lias democrat# -". upa* ,t vs The New Change Will Be Effective November 10, and Time Will Be Two Hours Less Agreement to Lengthen Time Was Made Last Tune. Chicago, Oct. 25.—The Chicago Denver roads on November 10 are going to reduce the running time of their fast trains two hours. The rea son for this is the notice by the Bur lington that after that date their fast Chicago-Denver train will leave here at 1 p.m. Instead of 9:25 a.m., and will arrive in Denver at 6 p.m. the following day, or thereabouts. This notice was served on the oth er western lines at a conference be tween executive officials during which the entire -train service In. the west was under discussion. It Is un derstood that the Burlington's action is due to the prestige which they claimed formerly on Denver service and business, which was lost by the lengthening of the schedule of the fast trains. The presidents Of the western, roads last June entered into an agreement to lengthen the time of all passenger trains between Chicago and the Missouri river, Chicago and Denver and Chicago and the Pacific coast. This was done only after first one and then another was asked to give up some advantage which it had held in certain matters. At that time the Burlington's fast Chi cago-Denver train made the run in 28 hours, and that road claimed to have the cream of the trade. Under the agreement it was compelled, to slow down the running time tp 34 hours, which necessitated a change In the leaving time at Chicago of their fast train from early 'after noon to.:early, morning. CALABRIA SHAKEN BYGRE4I QUAKE WALT JACOBS ELECT EDJ0.JJRD DEGREE '4, Washington, lJ. C., Oct. 25.—In terest In yesterday's proceedings of the supreme council of the Scottish Rite Masons, southern jurisdiction^ centered In the election of members to the thlrtythlrd degree and as knight commanders of the court ot honor. One hundred Masons were elected to the thirty-third degree, among whom are: Minnesota William Clark Allen, Frank CollinB Berry, James Edgerton, Orme, Oscar Kelsey Richardson, Wil liam Day Underhlll. -North Dakota—William Francis Winter, John Henry Worst. South Dakota George Vincent Ayres, Walter George Jacobs, liar shall Foster Montgomery, Martin Pe ter Ohlman. CRACK SHIP OF THE CANADIAN PACIFIC LINE AT BOTTOM OF THE SE^IP "J f&m The Steward" Noticed Water 'domSg Over Iwwer Deek---G&v« Alaim^ But Nothing Coald Be Done—Ship Is Loaded With Flottr, Which Is Turning to Paste. Portland, Ore., 05t. 25.—The Can nadian Pacific Railway company's crack oriental liner, the Empress of China, sank Wednesday night along side her dock In this port. Her sea cocks must have, been opened, but' how no one seems able to ascertain. Her main deck on the port side is awash with several feet of water. an angle of about 45 degrees. Her ruins. engines and dynamos are under wa-, The flrs£ and sink, ahd by 8 o'clock her Just before 8 o'clock the engineers1 high tide, and the starboard side of OIE DOUtUI £EB ttAS 1 .vw-w HUNDREDS RENDERED HOME First Shock Was Terrific and Bnild-, up to last evening there/waS nbth ing to show that the last figure* men*( tioned were correct. Nothing defin ite wfll be known on the subject un til the -ruins are cleared ai Premier Gioletti .conferreossiwtt King Victor Bm^nuei and it Was ported' that his majesty, would the disturbed districts if"{resh sfcooks occurred, 4 The vo\e, 0ne Cf She sank and keeled over on her port destroyed two villages and reduced side so that the main deck is now at many houses ..In. several ..others to a,so port stern was resting on the bottom of The cathedral at Torre D1 Ceraco, the harbor, the tops of the masts which arose from the ruins of Locri leaning over the wharf, extending to Eplzephyrll, once celebrated colony the gables of the big freight sheds. of was In charge of the dynamos left^ their! withstood all Calabrian earthquakes posts and came were turned off. ashore. AIMights f°r the main deck is still about ten feet conditions prevail 1n a number of above water. The steamer is valued at approximately *1,000,000. She! Prisoner* Pknic Stricken was booked to sail next Thursday During the confusion caused by.^ xor the orient, and would have car-r tbe first earthquake the prisoners ln| rled the British malls for Hongkong, tlie jail at Catanzaro mutinied and for which the line receives a large were only ^subdued with great diffl eubsldy from the imperial govern- culty,' The female prisoners were ment. {particularly alarmed, screaming and A diver has. been sent down to lo- shouting and beating the doors* nn^ cate the open, seacocks Fire engines til the place was In a terrible up ara at the wbart to assist in pumping' roar. The prison officials did every the vessel clear ot water, but wheth-j thing possible to calm the inmates,** er she can be righted on an even, but the panic broke out afresh every keel is the question that is agitating time,, another earth shock wati: -ex-1 officials of the company. She is 485.pejriehced. /''J teet in length and was built In 1891 In England. FRANCIS JOSEPH CONVALESCES 4#-7AA':' 'i'j.' '-V Vienna, Oct. 26.—The physicians'on«r two days ago Finance Mlnfatiei In attendance oi^_ Emperor Francis. Signor Ma^seminl inaugurated Joseph announce-1^ i„ convalescent.. Wfeen fn| 6rm^^o^ destruction, said ^with:-tears eyes: "IE1 "Are we having a repltitlon ojtjt^e disaster of 1906? God help the poor souls." The pontiff has decided to ,send money for the relief of the sufferers The shocks were especially severe In the southern end of the Calabrian peninsula. Throughout Calabria there are scenes jf. desolation and despair. First Shock Terrified Citizens The first shock was a tremendous and was followed by two otheri longer duration, which entirely shock ter. She Is resting on a mud- bot- population of the villages Into tbe torn, but the problem of saving her open. Many will be that of righting the vessel to tbe hills or open places which ac and preventing her from completely counts for the smallness of the llet turning turtle. Df Just after 6 o'clock the steward tion It was raining in torrents,which noticed that the water was coming greatly Increased the suffjjrln^ amonft in over the lower deck. All day the the homeless. liner had been loading flour, 500 or| Half of the houses at^rruzzeno 600 tons of which is being slowly and Brancale collapsed aud many turned to paste in the hold/ in-' persons were burled in the ruins, at stantly the steward gave the alarm, Sinopoll and St. Ilario more lives officers at dinner hurried to their'&re said to have been lost. Panic stations. All hands manned the! prevails everywhere. Rocella, Jonl pumps, but it was too late to save.''» Regjsio, Cosanza, Baracdlo, Cltta-^ her from sinking, and every person nova, Palmi, Marina and other towns went ashore. She continued' to list fatalities. To add to the desola- suffered from the shocks, but none severely. I^ocrains, was thrown down as the ancient tower which had centuries past. She sank at nearly! Half of the houses of the village of Cerace are In ruins,, and similar other points. In Calabria. An'voon as possible .detachments ot' troops with relief trains were bur-: Tied,to the scene of disaster and evelr^ything they ©buldito a88istktii^v peqple who had fled froni their homea CContlsued Page piill E«|§g LESS BT EARTHQUAKE AND PREVAILS. Jill- S yVf ings Collapsed- Under It# Forces Troops and Relief Rnihed to the Scene By Italian Goverament. 4 SIS If 25.—'Details ^cllwfc 1 1 VJ a Rome, Oct. here during the day regarding the earthquake in Calabria in everyi-Wiy!^ tend to show that the damage done? was much more extensive than at' first estimated, but that the loss-of life has not been great. The lowest estimates place the number of killed at about twenty and the highest at» about one hundred and twenty but 5- 'V* a jf- V" ife brought the entire succeeded In escaping 5.)^f