Newspaper Page Text
THE SUN, TUESDAY, JULY 29, 1913.
STORM RIPS ROOFS;
Troplrnl Downponr Tics Up
Traffic; Bolts Set Houses
HAN KILLED BY BOLT
Electric Lifthts Are Put Out and
AH the boroughs and much of the con
tiguous territory got a drenching yester
day afternoon, with an' accompaniment of
The downpour differed In various parts
of the city, hut In all It , almost trop
ical for half an hour. Tn the half hour
that the rnln was trying to break itcoids
the gauge' on top of the Whitehall I'ulld
Ing recorded one-half an Inch, which Is
at the rate of two feet a day.
The day was unusually moist. Tile
Impression of the multitude whs that the
day jyna, extcmely hot, but the worst
the mercury did was SI ut noon. The
storm drove thr temperature down to 72,
but ItvenV up later. The fotvenst la for
thunder -showers for this part of the
Stato to-etay and fair weather to.moirow.
with .moderate variable winds, 11 may
be hotter to-day after the showers, if we
John MrDermott of .Middle Nock was
killed by n bolt, which struck a b.itn at
Great Nick, L. I., owiud by .Mrs. Henry
Cellars Are Flooded.
All over Manhattan sewers were un
able to carry off the nre.it volume of
water which sought Its level In cellars.
Mors', than one sewer burst and shot
sewage" bnck to the surface. Lightning
lilt In many spots, shattering tlagpoles
and s;ouglng chunks out of the cornices.
People were shocked, but nobody was
killed. Many groups who ran to cover
were driven out by the Hoods that came
In after them..
The storm held up tram on the New
York Central and the New Haven i all
roads for a time. Water pound fiom
Webster avenue. The Lfronx. on the tracks
River trolley track, tyln up trafflo for
In Hackcnsack a bolt (truck a wire
leading Into the livening Record office,
putting tho machinery out of Joint and
delaying the paper three hours. .
Montclalr was In darkness at 4:30
o'clock. A terrific downpour choked
sewers. The flagpole on the Dorcmus
liulldlng was shattered.
The storm hit Passaic at 4:16. Hope
nvenuo was flooded, the Passaic Valley
trunk sewer caved In between Van Ilurcn
and Sherman streets and the mains broke.
Kit emeu and policemen were called out
to rope off all of Hope avenue. A Pater
son and Newark car was derailed In Tem
ple street by a break In the ro.idbel. It
nearly went over a twenty foot pre:lp!ce.
While the storm was on, tiro started
In an open trolley car In Bay street, near
Clinton avenue, Stnplcton, Staten Island,
causing a panic. The car was crowded
with women nnd children who had been
driven from Houth Beach by the rain. All
deserted the car into tho rain.
Itoofs were blown off a score or more
of bungalows and forty tents were blown
down at Camp Warren and Bungalow
Town at South Beach, where there were
A building at Annadalc, Staten Island,
occupied by the Staten Island Rapid
Transit Company, was struck by lightning
As Frank Vanderbeck and his wife and
ten children were at dinner at "SO Van
Wagenen street. New Durham, North
Bergen, n bolt came down the chimney
nnd upset the family. The lightning set
fire to the roof. A bucket brigade put out
DAWES SEES PERIL
IN CURRENCY BILL
Former Comptroller Finds tho
Measure More Radical
Than Aldrich Plan.
MENACE OF INFLATION
Scheme Makes National Banks
Give Reserve Banks Both
Capital and Business.
Mlddlctown Orchards llevnstated.
MlbiitXTowN, N. Y., July 28. Orc.it
damage was done throughout this section
this evening by a heavy storm of wind,
rnln, thunder and lightning. Several
buildings were burned and many orchards
were very badly damaged by the high
WORKS ON SYMPATHY
. OF HIS TWO BURGLARS
Haokensnck Man Talks to Them
and Asks Tlioin to Mend
mcKENEACK, N. J., July 2S. Working
on the sympathy of two armed burglars
by ghlng them fatherly advice was the
unusual experience of H. L. Wilson, a
wholesale sugar dealer, who lives in Pros-
JINB . . . .... i. . . . , .
In the cut south of 200th street. At .1 T1' .. 'tT.. ""r ".JTnc.nrJ "ls ."ne
the Fordhnm station It covered the plat- ",,"'r B,lcr u'"e " "y to
form and drowned out the third rail. The V,,. u . .
ballast was washed from between the tie "hlle putting his automobile In the
In spots and when Iraflic was icsumed faKhe notlcrd "light moving shout
the trains had to go cautlouslv. On1'" nom?' A trolley was passing and
tracks 1, 2, :t nnd 4 the power was off
from 4 :3S to 5 21
For blocks around Times Square cellars
were, flooded. Six feet of water ran Into
the flrc pits of the Hotel Soinriset, ISO
West Forty-seventh street, putting out the
electric lights. Candles were need last
Ken of Ilrrr Adrift,
The Seventh Aenuc (Jarage at 731 Sev
enth avenue measured up two fret of
water In Its cellar. The flood stopped the
elevators. In n rathskeller next door beer
he stopped It and asked assistance.
"(lot a revolver?" asked the conductor.
"No." replied Wilson. "Well, nix on the
hero stuff for us," remarked the con
ductor, nnd the bell went "Ding, ding'"
Mr. Wilson went to his front door and
was confronted by two oung men, each
pointing a pistol at his head.
"Never mind going In the house, but
Just go on nhead us to the woods
bark of your house." said one of the men,
and Wilson did as he was bid.
Noticing the toy bank of his little son
n the pocket of one of the burglars, Mr.
kegs floated In two fret of water. The u'liun ,.i.e
Hotel Astor hail sU nehc of water In Its; "Say. bos. there Is only a few dollars
Th J n I'' nk ,M,ut- I'll give jou this small roll I have
iflrf. ' .'ni.h:. ... , . . '" l'et " u''l "ft take the bank.
......... ... i,. .viiiiin r linn for III II 9 n lotto,, tn t,.i- I,.-,.. hi.
trance In the 1 in-acre iiiiii,iint" V.n .h. Pra,"iiothcr and a check signed by Theo-
the Tetminal haiber shop in the building C " ,,lr "",'ih , w a
facing tho stairway buist and a stream vm . ' Vj1 ou. boys, and If -you
mi., f.ot hi..h on...t.i i...:. .1... .i Vu. s to th.? house with me I'll onen the
.... .. v ...., i'mi ii mi... it r cii.,11. lilt ,
n . ,, .... ... . .. imiiK
iwui wan puiw uuoueu anil uie manicuic
and give you the money If you'll let
Klrls took to chairs. Seven. I r,,s..,n,..r- mc K"T m moiners letter and the
lathered and half shaved. left their chairs 11 1,1, uu h . , .. .
to look for an ark. One man Insisted tn.tt . ,," KO ciL w,th you' but don ,ry
the barber finish his Job before all hands ,0i"'" a.Py ?lun " u nr lt a11 da'
were drowned. The barber icinowd his wlih,.0,u' '',''' ne of the burjlars.
noe and took up his razor ac.iln. The , ' lnB openeu
r fltAItl.KS n. HAWK.
(Pornier Comptroller of the t'rtr
rpney) The Administration currency bill Is
practlcnlly a bill for the organization of
n number of large centrnl hanks of great
power to be established In competition
with tho present system of Independent
banks of the country. As distinguished
from the Aldrich bill, this bill Is a de
parture from the present Independent
banking system of the United States and
not a development of It. It tends to de
stroy and lessen the Importance of the
present system of Independent, competing
While It Is so constructed as to appear,
on Its face, less radical In Its grant or
centralized power thun the Aldrich bill,
It Is, In fact, much more radical In Its
grants of suth power, mich of the ad
vantages of the Aldrich bill, as, for in
stance, the provisions for elasticity In
our currency unci for the mobilization of
bank reserves, Ahtch It seeks to retain,
It offsets by other provisions which will
entail greater evils than the ones from
which we now suffer.
National Bnnk Kornlsti Cnpltnl.
Let us analyze It:
1. This bill proposes to compel the na
tional banks to furnish the capital for a
numbir of l-'ideral it-serve bulks undtr
the ultimate tontiol of Uo ei nnient ap
pointees, which icseivi banks, under tho
provisions of the law, become competi
tors of the national banks ami State
banks, fiction li and Section l(i of the
bill, taken together, as distinguished
from the Aldrich bill, allow the Federal
reserve banks to purchase In the open
market bills of exchange, Into which
form commercial paper can usually be
2. ltrsldes their capital, It compels the
national banks to tuni mer to these com
petitors several hundred millions of re
sen e deposits In other wolds to con
tribute to them lo Hi capital and busi
ness. As the Federal ri serve banks pay
no Interest 'n these foiced 11 serve de
posits, they will be no mean competitors
In their use In open market operations.
3. No limit Is put to the extent of los
which the national banks may suffer on
their investment In Fidel al reserve bank
stock, but they are limited to a 5 per
cent, return as possible pi olds.
Tlirrnteim Hanks With l.nas,
4. The (iovernment, which has re
ceived par for Its 2 per cent, bonds, de
posited by the national banks to si cure
tin Ir circulation. If this law Is passed,
threatens with loss any national bank
which has outstanding circulation nnd
desires to retire fiom the system, 1'n-
tler the ptovlslons of the bill, the only 2
per cent, bonds which can be t:chanid
before twenty years for 3 per tent bonds
at the rate of .1 per cent per nr. are
those which are held by national banks
against present circulation
In order to retlro from the system a
national bank would have to deposit law
ful money with the I'nlted States Tieas
ury to retlro its circulation and then with
draw the 2 per i-ent. l!oernnient bonds
seturing It. These bonds could not then
be (changed for 3 per cent bond for
establishment of the Federal reserve f
banks the business of tho country will be-
e-ome adjusted to their existence. They
n-111 nnt m tltj. fnh.il. rt nut, htielttAva
I Attacks on them, compelling retrenchment
on their part, will bring a repetition or the
disaster which the enforced contractions
of credits by the Second Hank of the
United States brought to us once before.
The Peril of I'olHlrs.
If this bill Is passed our banking system
Is again projected into politics. If one
would know what this means to the busi
ness and prosperity of the nation let
him read the financial history of the
United States from 18S0 to 1840.
9, Upon no other one agency doe the
prosperity of our people more depend than
upon our banking system. No greater
alamlty to their Interests can come than
from the passage of an III advised measure
of nlleged reform which will cripple or
largely destroy the great system of national
banks which Is now a part of the web
and woof of business.
There Is nothing more delicate or dan
gerous to tamper with than the credits of
a nation. If we do so to their disaster It
will be no satisfaction to reflect that
among tho ruins of a past prosperity may
be found the remains of the political
party which, under the guise of con
structive effort, has driven the knife Into
the vitals of legitimate and honorable
American business. The Industry and
capital of the country must awaken now to
the menace that confronts them In the
Administration currency bill, and not
wait until after they have paid the price
of prosperity for the knowledge which
oxpcrlence would bring.
PARTY CAUCUS WILL
GET CURRENCY BILL
President Forces Democrats of
House Committee to Re
water ran down Into the -uhway and "" ovr. twentv .-cars. Tho real rearon why no
lloodej the northbound platform six " 1. wium" - au:.li .wtectlnn against toe fal- In
inches. , or nunlnoss said Wilson. "Minn f lh ,1. .1.... ... ,1,.. witiuliaw-il of
In East Seventy.fourth street, where a ,h" l'01"'" cjUch you or possl- r er(r JJ'" prVvl,eio Is gl ve t, ?., nu -
new sewer Is being constructed, the old '' some, one may shoot you A long ' JC of Xm seems n. l" to nv.ke
?lx foot sewer burst fifteen feel east of ;"! nrls'.r . faces you If caught, to youj,, ,,xl,t.n,lve for nat,n., ,allUf, hnvhlK
Lex neton avenue, riiiminir ,-uv.Im hih . won t benefit much. Promise me you boys I. i..... i ... ...1.. i..
in I'liKt i'l v-uuii lull 11, j.jiii -- a.'.iiic
smashed a eix inch water main. The water will reform"
upply was shut off and the neighborhood P''1 K " d n' n seems to hit me cu ,f lhls bm ,lagIos ,lto au- lts
t .... .1 I nPtl V II jril B'llil ttiA fminiiiiF nr Hi o.n
faucets went dry
pretty hard," s-ild the younser of the two
Tmenty-flve men, women and children 1 mPn- ":inl 'n mlkc 11 Promise right now ,,,- '..i.i,, ,,r ..,.relesKne 'that
on the east walk In Central Fark sought ,ht 111 rtform If ou don t snitch to the'tho lnterf.8tH of outside holders of 2 per
reiuge unuer tne nixiy-niin street trans '''- """'cent, bonds are thus disregarded
The above propositions concetti
.-..in iuiu linn -1 n 111.-11 ,ji .i iuitii. ' greai
tr. Wilson phoned to llackensiek po- JJS ',
hi.arion.ii lem ;i short time Liter .'inrt
Park Denartment men went tn the renene Fhlei of Police Dunn responded. He I
tiAnlfo It iiitiir.fltnt.T.i frtv li.filu I,.
wun an automoDiie. rne machine stuck 1 "u"r ' mc emci n
In the fast growing pond. After hilf an valtiahlr, hjd been touched, but .Mr. AVI1-
liour the women nnd children walked
planks to the auto and got away.
Narron-ly Kcsnpr Death.
At Seventy-ninth street and Lexington
avenue water poured ten' feet deep into
the excavation for the subway. Three
workmen had a narrow escape from
drowning. They were pulled out with
sou thinks the burzlars had Just got Into
the house when he entered.
verse arch, where there Is a considerable ",lr luol .my way We've been working 1 r,
dip. The water came from both dlrec-; ' ""a "ny" J V . 'greatly the welfare of the ptitiltr- as well
none, me women iook to tne nencnes. 1 "' " " "i'-i .u r-- HS the banks for the leason that they,
The water rose and the women sci earned. , lice he.adqu,ii lers a short time later and w,h 0(hcr ,.ovriih of the bill, tend to
business under the national laws as com
pared with State laws.
t. Statutory laws heretofore when they
dched the underlying laws of economics
ha vii proved failures, tesultlng In the
great contusion of business and loss to
our people. Hy driving Into State
systems a large. If not the greater, part
of the present national banking system
this law. If passed, Instead of unifying
our banking system, would tend to
scatter It under diverse State laws greatly
differing In their method of regulation.
7. In normal times the stockholding
hanks which own but elo not control the
Federal reserxe banks will have no oc.
ension to uso the Federal reserve bank
Fall to save Baby's Mfe.
ELlzAnmi, N. J., July IS. Mr. and
Mrs. John H. Hheehy of 1374 Lexington
avenue, New York, were taking their
sick baby to a specialist In New York
from Belmar to-day when the child was
seized with convulsions on the train. They
Cellars were flooded In Eighth. Ninth1, .h. a . . .t.. '..
1ndrw ao,CnM" !niithThiu' "IT?' Jumpe.il into a taxlcab and hurried to the
i.ln .7 Kir viJr.r.te"v F,,Parlc,,8feneral Hospital here, but the child die
saloon at BIG Eighth avenuo went to the ,,., ,n- i..
" . ft PP! .h ' bill through her counsel. William It. Mac- 'against the enforced contraction of rredlti
of Charles r lourl, the owner. , ylny of Hnckensack. Mrs. Thompson by giving our ruriency the ejunlltv o
1 noor, snocKink i irs. riourl and . names two women as corespondents. elasticity nnd provide for the miibillza
rew Wilson. Neither was se.l- tlon of bank reserves, so thai I the reserve:
cellar last night to tap a keg of beer and
found twenty-two Inches of water. Chairs
and mattresses floated last night in the
rellar of l.udwig. Haumann & Co.'s fur
niture store In Eighth avenue.
Several buildings were struck by
lightning. A bolt hit the comlco of
Ktuder Court, at 1330 St. Nicholas ave
on the top
Another bolt ripped the cornice off the
Oakhurst, at 512-514 West ISOth street,
and tumbled it Into the street, Mrs. Jes
sie de Mallle, the Janltress, was struck
on the right shoulder by a brick, and
Mrs. Livingston Ellis and her mother,
Mrs. Philip Homelt.. were shocked. Henry
Heidelberg was knocked off a chair on
the ground floor.
flolt Strike School.
Lightning sliced a flagpole on Puhllc
School lfi7 at 162d street and St. Nlcho-
Wife Acrosrs f'ountr Clerk.
Hackcnsack. N. J., July 28. Mrs. Dells.
L. Thompson of Rldgefleld Park, who wss
recently made defendant In a suit for
divorce by her husband, County Clerk
Charles F. Thompson, has filed a counter
Women's ItlKhts In Illinois.
Chicago, July 28. County Judge Owens
decided to-day that all women are eligible
for appointment as clerks of election, and
that thoso who support families may servo
as Judges of election under the new
woman suffrage law of Illinois.
NEW JERSEY NOTES.
last avenue. Another bolt followed the . mackerel that weighed
wires Into lit, Elizabeth's Industrial pounds.
The Bronx, and started, a l,..n. on k Ha ore E5 for the FlerHl,i:
"oor:.w CXI,"BU'fne. streets to be cleared of all unmuzzled I" c"llr',lc' .",,M.r' ."
! 8chool, isnth stirct nnd Bathgate ave
IJ line, Th-
Miss Maiy Kennedy, tho superintendent,
and her teachers.
The wires at City If land were burned
L out and the police wires were still use-
lJSjj less last night The Klnushrldgo and High-
iu hridire stations were also cut off fur n
time A pole was struck in front of the
Wakefield police station.
No particular damage was done at
Coney Island, although everybody had a
wet time. A big wind came with the
rain that sent pcoplo scurrying oft me
Six houses were fired by lightning In
Jamaica, Tim water was so deep In Ful
ton street, Brooklyn, that It blocked thn
ears for half tin hour, Automobiles were
stalled In puddles nt street corners.
Joseph Carman, 40 years old of 50
Kre-sh Meadow, Flushing, a street cleaner,
as knocked down und stunned by a bolt
that bored Into the ground near him In
Fulton stieet, Jamaica.
' Ne-w Jersey Storm Sirrpt.
New Jersev felt the fury of the storm.
In Ullbtirn Mis. .ludson Yorek w.ia cross
ing 11 foot bridge cnrrylng 11 baby In her
nrniB und lending another child when the
htorrri overtook her. She tried to open an
umbrella and the baby dropped Into tho
ntream. Ktephcti MacClean tlshed out the
At Leonla the rain washed the Hudson
Ati-aKtio Litt. The crew of the fish
ing smack Nettle R. captured a horse
more than 1,30)
Jkrsev Citt. Director of Public Safety
Tbr Elnstlc Currency Problem.
The present range of prices nnd the
prosperity of the country Indicate that In
normal times we have nn abundance of
credit and currency if we could only guard
Washington, July 28. Political ex
pediency forced the Democrats of the
House Committee on Hanking and Cur
rency to-day to comply with the demand
of I'risident Wilson that the Administra
tion banking bill be turned over to the
patty caucus at the earliest poss-ble date
The committee s change of face was mailo 1
abruptly after rein esentatlons that the
party as a whole was being put In a I
ridiculous light by the squabbles among
tho members who ;(re charged with the,
responsibility of framing a banking b!l..
A motion that the lr.il be icferrcd to'
the patty caucus was 1 ejected on Friday'
by an almost unanimous vote. Since then 1
1'iesldent Wilson has conferred with 1
Chairman (iiass und other members of,
tho committee. As a tesiilt a lisolutlon
was adopteel to-day providing that the
Dtmociatic members of the committee
should make "a tepoit" to the caucus on
August II. Meantime the Democruts will
continue their dally conference., but the
understanding Is that In the future
changes nude In the bill will not be made
public us heietofore.
The, ucllon of the committee marks
progiess in the endeavor of the Admin
istration to pass a banking bill ut this
session. Since June 2ii the Democrats of
tho House, committee have beon en
gaged In heated controversies over the
Administration banking bill.
Indication ale that a mnJorlt of the
Democrats of the committee will subscribe
to the Admlnlstintlon bill No change
has been made In the measure up to date
that is not approved 1) the Administra
tion, It ludoised th amendment provid
ing for the refunding of tb 2 per cent,
bonds used as security for national bank
Tin Wlngo nmendment prohibiting In-
tetliK'klnc dltecttiratis was adopted only
entatliely. Conseratlies declare that oil
the final vote It will be defeated In nc.
rotdatiee with the wishes of the Admin
istration. It is known that a majority of the com
mittee also Is oppond to the Itagsdale
Henry amendments, which provide in the
main that currency shall be Issued on
torn, cotton and wheat held In
houei. The Administration is opposed to
this plan of agricultural credits, although
it has given assurances that It Is willing 1
to consider It as a separate proposition
at the December session of Congress. '
Representatives Henry and Ragsdale
hae decided to present the amendments
In caucus If they are turned down In com
mittee as now seems certain. They will
al-o offT to the caucus the Pujo recom
imndatlon against Interlocking directorates.
It Is the opinion of the House that al
together too much publicity has been ,
Blen to the deliberations of the Demo-I
cratlc members of the Committee on
Banking and Currency. They InMst that
If It had not been for the d.ill publication
of changes In the bill and publicity of
debates real ptogtess might have been
made on the Administration hill In th? last ,
It was decided to put on the lid for the
next two weeks, keeping fiom the public
any and all changes In the bill as well as
the differences that develop among inem-1
hers. There was opposition to this plan of '
secrecy. Representative Wlngo of Ar-1
kansa moved that all sessions in the
future be opened to the press. Chairman
Cihiss. who is a newspaper publisher, cast
tho deciding vote against this proposition. '
Mr. Glass has been opposed to publicity
of committee proceedings from tho b-1
President Wilson Is now In .1 more
hopeful frame of mind over banking nnd
currency legislation than he has been for
PHE cool lunch for hot days.
Serve it in the country. 1 ake the motor car, the
family, a friend or two, some sandwiches and
On Sale Everywhere Families Supplied by Grocers and Retailers
7,500 Employes to Make It
The Anheusor-Busch main rJant and
branches give employment to 7,500 people.
The main plant covers 142 acres, equal
to 70 city blocks. There are 110 separate
I'uildiuss, a city In themselves.
Hundreds of visitors every day go througb
with guides to inspect this immaculate in
stitution. One cannot sec It without the convic
tion that quality is an Anheuser-Busch rule.
Anheuser-Busch, St. Louis
77iu LargMi Plant of Its Kind
in the World
Some of the Principal
fib. fh, l
11 ttW .Hi.
i in i r iiw rTi " sw"i' i wiNUfi'.sd4BMiismH nvsT7F3;i i ii oil e
Anheuser-Busch Agency, New York )
A. Busch Bottling Co., Brooklyn jDistributors
Anheuser-Busch Newark Agency, Newark)
count uo used wnen nnu wiicre they am
An enforced partial liquidation of
credits Is now In progress. When It Is
over there will bo a largo accumulation
of Idle and untoannble funds In our
banks. If, ns In tho Aldrich bill, 11
vacuum In tho circulation was to bo
created by the almost Immediate! retire
ment of the $700,no0,non bond secuiecl na
tional bank note circulation the batiks of
the country would havo need of tho ro
dlscountlng privilege with tho Keder.il
reservo banks to t.cur currency needed
by tho country. Hut the gradual r per
cent, per annum retirement of the bond
secured circulation provided for by this
MlueiB 01 m iicarcu ill nil uillllUKSieil .. i. ' .
und vicious dogs. Dr. Edward Mulvan.y '"r "7 ,h':"' nr n .J ..""'' 'r. ",r.e...?":
was designated to conduct the Pastour , for ,h. mn., nart ,h,rU ,ln ; ' V ' "
1 . . - ... i,iitii.iii.
usee! lit times or emergency alone.
Culver's Lake. For the detective work
he did after his own house was robbed
here, Lawyer Boyd 8. lily has been paid
a reward of S50 by the Property Owners
Jkrkkv Citt, Vincent O'Nell, 12 years
old, left his home, 5SI Communlpaw ave
nue, Jersey City, a week ago to-day to
take a swim and lias not been heard of
Nuwark. The barbers' strike Is ended.
aim tne Journeymen uarbers Union an
M'ADOO SAYS BANKS
HERE ARE CONSPIRING
Coii'liiued from Firtt Van'-.
BAILEY WON'T BE GOVERNOR.
Would .Not Ai-eippl the Office, Hp
Snjs In n Letter.
AUSTIN. Tex., July US, In n letter to
State Senator II. B. Terrell ex-Heliator
Joseph W. Bailey sets at rest tlto re
port that ho will be a candidate for
tiovernor. Mr Bailey saya In part :
"Tho fact that I am adverse to nn
active participation In politics hereafter
must not lead you to conclude that I
regret the patt which I have taken here
tofoie, for such Is not tho fact.
"1 say to you frankly I would not
ni'iept an election ns (inventor of Texas
If It were tendered to tne with prac
tical unanimity because I have no eg.
perlcneo In uxecutlve affairs unit I am
not confident 1 could make stt'.-h a Gov
urnor ns Texas deserves to have."
This will force. In normal times, the
Federal reservo bnnk Into greater open
market loan operations In competition
with all other banks. Imagine these great
central banks with capital and deposits
aggregating, say, tOO, 000,000 to $500, nni),.
000 paying no Interest on deposits with
their Immenso facilities for tlm creation of
credits nnd the emission of currency
muncnea upon ine rountry oy tne first of
nounced that all tho men can return to next year after the peak of tho present
work pending the drawing of a new demand for currency Is passed, will It not
agreement. I bring the country face to fucei with all tho
Nuwark. John Jermopo, 29 years old, 1 perils arising from a future Inflation both
was neici in I,000 ball for the Grand 1 01 orceins ami currency
Jury on a charge of having set fire to
bakery In tho rear of his home.
Nbwark. Mrs. Florence Totlen. IS
8. This plan compelling tho national
banks to furnish to competitors both capi
tal and business, and divorcing ownership
years old, of 242 Norfolk street, at- frT c?",r61 b.y Pu,,'nK .'.V?"8, '"nWo"1
tempted suicide by takln- a small piece l!n.der on r,01 of Political appointees,
of bichloride of mercury tablet followln. ft .utft ?5 f0'" SnS,,K
n nuarrel with hep father Hha will ,nt0 tn situation again from which It
n. quarrel witn ntr father. Hne will emi.rgt.A nfter Andrew jc((son, backed by
',. .. . ... 1 the State banks on one hand and tho radl-
NnwARK,- While on his way home with CB politicians on the other, ruined the
medicine for his sick wife Lewis (lahr, Hecond Jlank of the United Htatca and
51 yearn old, dropped dead, a victim of . plunged the country Into tho devastating
the heat. I Md tsrrlble panic of 1S3T. After the
CONFIRM GERARD'S NOMINATION.
Senators Alio Approve- I'm He Id anil
Washington, July 28. A number of
Important diplomatic nominations were
confirmed by the Honatn this afternoon.
Including that of Jnmea W. Oernrd of
Now York to be Ambassador to Oer
many; Frederick C. penrleld of Pennsyl
vania, to be Ambassador to Austrlu-Hun-gary
; Joseph H. Wlllnrd of Virginia, to
lie Minister tn Bpnln, and Charles S,
Hart man of Montana, to he Minister to
John W, Davis, Representative, of West
Virginia, was confirmed as Hollcltor-Uen-ernl.
The following New York postmasters
were ronftrme'd : Frank C. Lent nt At
lanta, Frederick H, Payne at Berkshire
nnd Barton L. Piter at Watklns.
Hat Frame Makers fltrlkr.
About 800 lint frame makers quit work
yesteidny to enforce demands for 2
more a week nnd from 2S to 30 per cent.
Increase In wages for piece workers.
About forty-five shops, mostly on the
Bast Bide, are affected by the strike.
About half the strikers are (Iris.
the liovernment will pay nt par nnd In
tel est all 2 per cent, bonds which at
that time remain outstanding. In view
of tho fact that the 2s hae no due date
and aie )u.thlf after 1930 only at the
option of the llovernnient trie detlnlle
promise of payment at the end of twenty
years Is distinctly beneficial to the hold-
ers of tho 2 per Cent, bonds.
"The Sectetary spoke with amusement)
of the grnve statements sunt out from
New York to the effect that If the cur
rency bill shall pass and (iovernment de
posits are put In the Federal reserve
banks the 2, per i-ent. bonds now used
to secure deposits will ho thrown on the
market and their value thereby Impaired.
As only 113,900,000 of the 2s out of a
total of I73U, iv2,l 30 are used to secure
liovernment deposits It can be roadlly
seen how trivial this Is. If these bonds
Hro not used to pecure deposits they
can be used for additional circulation.
Threatens Action Aunllmt UnnUs,
"Nearly all of the 2s are owned by the
banks If the price Is marked down It
It. because tho banks themselves aie put
ting pressure on tho market and de
pressing the value of their securities Tho
i fault Is their own. It would seem the
part of good sense and good business not
to do It Tho .Sectetary expicsred tho
hope that the process If rontlnued will
not bo carried to a point where the De
partment will havo to take action.
"There Is and always had been a nar
row market for tho 2 per cent, bonds.
Just as tltsro Is for many lnautlve, al
though high grado corporation bunds, and
eve'ty one knows how easy It Is to put
up or down the quotations for such bonds,
especially when a favoring state of mind
lias been skilfully created.
"The Department has, because of Its
relations to the banks and Its necessarily
Important part In the financial affairs
of the country, a deep Interest In the
welfare of the banks, In tho stability of
the financial situation and In a continu
ance of thn presporlty now attaching to,
agricultural nnd Industrial enterprises
and general business.
"For these reasons the Secretary said
ho hoped that the bnuks would not con
sider a suggestion from him impurtlneut, I
In manj quarters there Is a disposition
on tne pari of tne nanks to restrict i
legitimate credits. There Is nothing In
tho situation to warrant such a course.
The banks should not put undue restraints
on business. Should any unusual strin
gency appear, the Secretary said, It could
easily be met through resort to the
$,r00,000,000 emergency currency now 1
held In reservo, which can be Issued If
tho banks need It, or by use of the re-1
sources of the Tieusury Dopartmcnt, or
Business Interests Hafr,
''In conclusion the Hocrotary aald with ,
emphasis that there Is not going to be
any financial trouble and that the largo
crops now In prospect are going to be
moved wlflmit difficulty and that the
powers of the Department will be exer
cised In their greatest amplitude for the
protection of the business Interests of ths
That the charges carried In Mr. Mc-
Adoo's statement are likely to bo the
subject of a Congress Investigation was
predicted to-night. It was pointed out
that both the foes and supporters of the
curicncj measure will dcslie to lime the
matter threshed out, the former that they
may be spared any suspicion of having
engaged In the conspiracy described by
the Sectetary of thn Treasury, and tho
latter In the hope that the methods em
ploed by opponents of the measure might
Mr .McAdoo to-nlirht would add nothltis
to his statement for the puiose of in
dicating tho uatuto of the evidence on
which ho had bared his ehaige-s. lie
would not name the New Vork banks
which ho believed to have participated In
thn campaign to bear the maikct on the
2 M-r cents. From an authoritative suuice
however It was learned that the Secre
tary has the utmost confidence In the
evidence ho has In hand, and that he Is
piepared to follow this stutement with
others to prou that his action was Justl-tlesl.
RIDICULOUS, SAYS HEPBURN.
Other Hunkers Here Think Charge
Too Absarrt to Deny.
A Barton Hepburn, chairman of the
board of directors of the Chase National
Hank, described tho charge made by Sec
retary McAdoo against the New York
banks as "ridiculous." He did not care
to make any detailed statement until he
had read' Mr. McAdoo's statement care
fully. The opinion among New York tankers
who e'ould bo reached last evening over the
telephone was practically the same. The
tlrst charge of Secretary Me-Adoo that
there is 11 conspiracy aiming ceitaln New
York bunks tn defe-nt the enactment of the
Administration currency bill met with
assertions that It was too absurd oven to
Hankers pointed out that It seems to bo
the policy of the Admlnlsti atlon to seek
to accomplish thu enactment of n measure
by chiuglug that Wall Streit is agaliHt It
Such 11 cry, said one bunker, sreins to bo
necessary to appeal to the extr'mo ".lng
of tho Democratic pnity,
Another banker said emphatlcillv that
If Secretary McAdoo has anv evidence of
such n e-onsplrnoy he should prodili'J It or
lie should not mako any such chame. "Lit
him make an Investigation. The bankers
of New York will v.eli'oitie It. for thorn Is
not a bit of truth In the charge, So far ns
I know thei charge Is absolutely without
Hankers, who discussed the statement
In detail, took up the assertion that th
New York bonds were, denre'sslnc the
Government's 2 per cent, bonds. They
said that the New York banks were- not
selling the bonds but that tho country
bunks were doing bo. The New Yorks,
they asserted, wero not selling them be
cause they had no place to dispose of
The charge of Secretary McAdoo that
there is a tendency among certain banks
to restrict legitimate credits was met with
the statement that call money was quoted
yesterday at 2 '4 per cent, and that the
rate for time money was unusually low.
"Too silly to comment on," was tho
statement of another banker.
I TWO FATHERS BEAT DAUGHTERS.
Ilolli spin (1,,. le.iltrntlar One
Scnrre-il Two Girls, for Life.
tleorge Nieholeone and his son. Stephe
of 319 HendeMOti ttre-et, Jersey City, '
unite need to one ohv In th" Hud
'county penltentlaty by Judite O'Brien
the Sis-oml Criminal Couit esterday f
IxMtinc llettlia .N'lcholeiine and then tiu
hr to her bed. She is 1"
Nieholeone objected to his dauchte
( revolving attentions from a Hobo'"
I youth, and every Sunday to keep he
! fiom seeing her sweetheart beat he
and tied her to the bed with the help of
t Stephen, her bnither, .o the alrl said
Yonkers, July 2S. Convletid of be-n-
Ing his daughters, Helen, 7 years old
and Veronica, 12, with a heavy strap
Paul Bobak. a hiUtei, was sentenced t'i
Kings county penitentiary for two month
.by Judue Heal In Special Sessions to-da'
'Tho children will bear -cars for l'f'
i linh.ik ndmittMl to Supt. Wiirnor of tl.i
Chlldien's society that he seived i
month's teim In Poland for a siml'i
KLOSFIT PETTICOAT i
Died of Football Kick.
Dennis Hurley, 21 years old, of 7 West
Sixty-ninth street died In the Forelhnm
Hospital last night as the result of a
kick In tho stomach which he received
on Sunday In n gume of football In Van
THIS is the. lahei lhnt
identifies thr cm
unc KLOSFIT PETTI
COAT. Be sure that
you find it in the waist
band of the next Petti
coat you buy.
H your figure is not
normal, your hips and
waist too slim or too
( stout, and if you have
had trouble eettine thr
ordinary string Petticoat to fit snui
;ly you have but to try a KLOSFIT
PETTICOAT. It will instantly adjust
itself to your figure and will fit with a
glove-Jike smoothness around the waist
and hips. No alterations necessary.
Insist on seeing this label in the waist
band, KLOSFIT PETTICOATS in Silk Jcr
1 sey or Messaline, in all colors, at $5,00.
.In Cotton at $1.50 upwards. Ask at
I KLOSFIT PEItlCOAT
' if Srr