The day book. [volume], September 26, 1913, Image 26

About The day book. [volume] (Chicago, Ill.) 1911-1917

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

                
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SAM INSgLL HAS A FINE IDEA
THAT WOULD BENEFIT HIM
A gigantic plan to monopolize all
the big public utility companies, with
the exception of the telephone, has
been evolved 'in the mind of Sam In
still. -
Insull put over his grab of the Peo
ple's Gas, Light & Coke Co. by hav
ing James F. Meagher elected to the
"presidency and. having himself, John
J. Mitchell and Jim Patten elected to
the executive board.
Insull's supporters in this plan are
Henry A. Blair and Ira M. Cobe. Once
it goes into effect the companies in
terested can send the prices aviating
as high as they choose
The companies involved are:
The Chicago Elevated Railways
Collateral Trust, with its five under
lying elevated roads.
The Chicago Railways Company,
with nine underlying properties.
The Chicago City and Connecting
Railway Company, with five underly
ing companies.
The Commonwealth Edison Com
pany, which has absorbed all the elec
tric current corporations in the city.
The People's Gas Light and Coke
Company, including the old Ogden
and Lake View companies, now underlying.
The Economy Light and Power
Company, controlling the electric
current situation in Will County.
The Northern Utilities Company,
the Insull-Cobe Electric Light and
Traction Company, operating in Du
Page, McHenry and Lake counties.
o o
REYNOLDS WOULD CHANGE THE
OWEN-GLASS BILL
If the Owen-Glass currency bill can
be modified so that it will give the,
bankers a representation on the con
trol board, and the number of region
al reserve banks be reduced to five, it
will be deserving of the support of
the bankers, George M. Reynolds of
Chicago, president of the Continental
& Commercial National Bank told the
Illinois Bankers' Association today. 1
"No law is. founded essentially on
prejudice against the people who are
most intimately affected by the law is
just," he said.
Reynolds spoke also in disapproval
of the provision requiring national
banks to come under the law or be
dissolved. The motive idea of the
legislation, the creating of a reserve
fund to draw in times of emergency
and panic, he said, are good.
Reynolds declared that whereas
some of the framers of the bill were
actuated by desire to decentralize
Wall Street power, actually Wall
Street would profit and the small
banks would bear the burden.
He said he had been unofficially
informed from Washington that the
number of regional banks was to be
made five, which he agreed would be
satisfactory.
o o
. BITS OF NEWS
Trenton, N. J. Sensational
charges of libel will be "preferred
against "The Menace," anti-Catholic
paper, Aurora, Mo., for publication of
article alleging immoral -doings in
nunnery in Camden, according to
Bishop of Catholic Diocese of Tren
ton. K
Detroit. One man'killed, 15 in
jured, one probably fatally in explo
sion at plant of Wood Motor Co.
Centralia, III. Mrs. Pearl Yates
gave birth to quadruplets, all boys.
St. Louis, Mo. Body of Wm. H.
Carter found" stabbed to death on
lawn of St. Luke's Hospital hour
after he had left his room.
Lutchfield, Ky. Joe Richardson,
negro, accused of attempting to as
sault Ray Goff, 11, found swinging
from tree in public square. Mob had
silently taken him from. jail.
Lansing, Mich. With both eyes
turning to stone, Benjamin Woda, 13,
was placed in State School for Blind.
Natchez, Miss. Capt. J. R. Eggles
ton, last surviving officer of confed
erate battleship Merrimac, dead,
3
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