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The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, November 26, 1900, Image 7

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn84020274/1900-11-26/ed-1/seq-7/

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Good news ! Your Thanks
giving bird isn't going to
cost you a cent.
We've got 2,000 fine, plump,
live turkeys the best that
Pike and Lincoln Counties
We're going to give one with
every purchase of a man's
or boy's suit or overcoat at
$10 or over.
This offer is for to-day, to
morrow and next day, and
we also furnish the bauce.
J Sole Agent
for Rogers, Peet
at & Co.. X. Y.
4,vv.--'v avven
Barr'8 are showlns JanOomo lines or n-w
roods Tor the Fall and Winter of 190 Every
department has made extraordinary efforts
to prepare for the busiest season in the his
tory of Barra. Early selection Is advised.
Iwiac Remington Found Dead Un
der Peculiar Circumstances
Decatur, 111 . Nov. 13 Isaac Remington,
& carpenter, ajjed 3S jear. was found dead
to-day In his room In a bnarellns-house on
Is'orth Broadway. He was last seen Thurs-
He had a hie cash on his head and a cut
on his face and the floor was, covered with
It Is not known whether the man was
murdered or whether he fell dead and struck
Ills head on broken bottles which were
found In tho room.
The police are inv estimating the case.
Extraordinary "Watch Sale.
This week only, nreit reduction for cash
on all watches at Jlrrmod & Jaccard's,
Broadway and Locust.
Archbishop Keane Says the Situa
tion la "Unchanged.
Dubuaue. la.. Nov. 23 The report thit
e erection of the See of Sioux CIt has
been ordered Is characterized b Archbishop
Keane as "utterly -without foundation.'
He says that the matter of a division ot
the Archdiocese of Dubuque stands jut
where It did berore Archbishop Henncssj 's
"death, he having received no communica
tion from Rome on the subject.
The Suffragan Bishop:, will meet the
Archbishop here December 4 merelv Jor
ponference on the state and needs of the
church lu tho province.
An Important Difference.
To make it apparent to thousands, who
think themselves, ill. that they are not af
flicted wrlth any disease, but that the s
tem simply needs cleansing. Is to bring
comfort home to their hearts, as a costive
condition is easily cured by ulnp Sjrup of
Fhrs. Manufactured bv the California ris
gyrtrp Co.only, and sold by nil druggists.
venezuejjTbuys guns.
len Thousand Mausers and .'5.0011,
000 Cartridges Received.
Caracas. Venezuela. Nov. 25 The Venez
uelan Government has received from Ger
jnany 10XX) Mauser rifles and 3,CU0.0-) car
Mississippi Valley Trust Go, i
COIJJNS Mr Marram Collins mce aiw
Jalv) beloved wife of John Collin", and molli-r
et "Nellie. Katie. Mrs MecKCl Ual!i ami Mis
John Barrett, on S-undaj. .November 2. 't, at
10 45 a. m.
Ftineral from residence. No 1S21 Helli-glajle av e
tiue, Tuesilav. Nov ember :;. 1 at i 1 in . to
6t. Matthew's Cliurcli. thi-no" to CalvarJ Cem
etery. FTlend Invited to attend
Oolumtus. O,, papers pla-s copj.
DA3.T On Sunday November 13 1w0 at 3 13
. m . Ellen Daly, relict nf the late Dentil Djh.
mother ot Daniel and William Dais. Mrs v
lOlleher and Mrs. J Conlon-
Tho funeral v.lll take nlace Tuosaav. "th lnt.,
at S.30 a m , fioni risloenc ot her d lighter,
Mrs. P. Kellelier. No. KM Cafs avenue, lo s-u
lieo'a CJiurch, thence lo Calvarj Cemetery.
VriMiAn urn Invited to attend.
Kaneaa Cits. Mo. papers plesse copy.
DOTJaLASP On Saturday. November 14. M
t 7.15 p. tn . Mas. daughter ot Cornelia .and
th late John T. DouKlae:.
Funeral from residence, o. ss.'e vv esinunsier
lace. at 2-30 o'clock Monilav- afternoon Intcr-
?TeRt private. l'lease omu jioners.
1 DICHEI-Suiidav-. Novemtier !5. looO. at 110
m. m.. Augustiw Klchele, ared 73 jears.
" Funeral Tuesdav. ovmber 27. 1S00, at S 20
m Tn from lat residence. No 1727 Carroll street.
7 to St. Vincent Church. Klnth and Park av enuc.
IXAIjONEY Entered Into re't. Sundav. Novem
toer 25 1900 at Z 30 V "' . arter n. brief Illness
Mrs Elln Malonev. wife of the late I. .T. Ma
lony beloved mother cf Marv. Mrs. II. . O Am
t'ose! Mrs. M. J. Morlock and Ute Mnrgaret
v-iineral from tamltv residence. Ivo .049 Itut-
ter street, to St Kevin's fhurcli. Tuesdaj, at
8 a. m. Ilelatlves and rrlends Invito
Chicago and S-m Francisco papers please cop.
MANNING Entered Into rest on Saturdar, No
Tember 24 lOD. at S a. m . our beloved son and
brother. Joseph Manning.
Funeral Mondaj. November 2C. at 2 p m
from residence. 1017 North Eighteenth street, to
FL Brldirct's Clvurrh. thenco to SS. Peter and
Paul's Cemeterj.
MetIUV-Nov 'mber 25. JW. suddenlv. Jime
xv. McQtll. belDved husband of Fonhio McfJIU
vnee lAUIman), aged 43 ears
runeral from residence. No 3103 Adam street,
Tuesday 1.S0 p m Late member of Moolah "1 em
ple. St Aldemar Commandery. S-t Iouls Cliapter.
Cornerstone Lodge. A. F. & A. M ; Mentor Coun
cil. K. A.. Brotherhood Local Engineer.
PLANT On Sundaj. November 25. 1900, at lO.jv
p m. Mrs. Olive Pnovv riant, relict of framuel
Plant, at resldenre ot hrr son-In-Hn. G r.
iteyer. No 44S7 Laclede avenue. In the seventj
Clnth 5 er of her age.
SAMPSON Friday. November 21. lV) at ll'SJ
' p. m., of apoplcx-. Elijah N. Sampson, aged .S
lamenu imm tne resiapne or ni pon, ii k.
H. Sampson No 3S33 Westminster place, Mon
day. November 20. at s p. m.
SDrtmtfield, Mass. nnd NeiV Haven,
Conn .
'-papers please copv.
SCHLSSINGER Solomon Pchlrslnger. dearly
beloved husband cf Carollno Schleslnger, and fa
ther of Henry and Charles Schleslnger. died at
th aira of jears.
Th funeral takes pla Monday, Noveml-er 25.
t 3 p. m.. from tho Tesldcnce. No 711 North
Earth street.
TACKABEKItT On Sunday. Nov ember 23 11"0.
st 2 JO a. m . Margaret Tackaberry. beloved wife
of tho late John Tackberr, aged S2 scars "J
Tie funeral will take place Tuesdav. i7tli In-t .
t tX o'clock a. m . from, fatnllv residenre No.
S Brooklj-n street, to St. Michael's Chiireh.
thence to Calvary Cemiterj. runeral private.
Says Abuse of Power Is Responsible for a Large Number
of Failures of National Banks Other
of rhailo. G.
Currciuv, for
Nov tZ The .iniunl report
Dawes Comptroller of th
the e.it ended Oi-tober .11.
1900, has been premied foi transmission to
Congi ss
Tho leport Marts with .i iimminr of the
reports m ide flut iusr the jear bv the na
tional hank" in l espouse to the tall of the
Comptroller which "hows the .iggregite
resources of the 3 !s7l uationil banks, repott
ing on Scptembei 3, 1900. to be $3 (US 13S,4'ri 2i.
Hetween the September call of lSIO and lli.l
loans and discounts met eased 170,iIS 31 15
The loins .ind discounts on Septemher 3,
rX), were JJ.GSmt9,jIJ.3i. .ind individual de
posits were $..30S,21S337.r.';
Tlio capital stock of uitionil banks ie
portln,? on September 3 was ?(S0,JU3,O'"
In the lev lew of tho operations of intio'nl
bank-" under the curieno act of March II,
IW). the repoit show"; that, out of appiov.1
matels l,") mform.il applications for nti
thorltj to organize nttlonal banks, nitd in
anticipation of and as a result of the law.
33 have-been made form il and have ben
approved bj the Comptrollei between March
11 and October .11. vm. Troiii the .VM form i!
applications came "4S actual organizations of
bunks bctvvein March 11 and October Ul
Of the-e SIS tanks, actuallv organized, 213
were b mkt. of les.s tlnn $.7irti) capittl rep
resenting a total t lpitiilizuion of JC373CO".
and L'S were hank which could have been
organized under the old law with an in
dividual capital of $31,(0) or over, repre
senting a total capitalization of S109O30O.
The brnds dtposiw to secure clrcul itlon bv
th.se 11Cn ins-titutK ns lHtween March 14 an 1
October :'l was $-),3)S20, or onl about "0
per cent of the mjiimum. which might ha.e
been deposited
Increase in Circulation.
Tne total Incicise in the urculatior, se
cured bv Government bonds, of all nation il
banks m the svstem s."ncc March 11. lr0.
Ins bee.ii $2,151,ro The total oulstaudi
circulation on October 31, lajO. was $331,611
2w. of which $32,784 201 Is secUud b 1 iwful
monoj and is in process of retitemuit The
total bond-secured circulation on October
31. 1M0, was 23S,S29 064.
On October 31, lt'X), there weie 3 033 na
tional banks in opratloii, with a combined
capital of $G32,?02.33. The combined re
sources of the national banks. I eiug ove
$3 um.&W.WO, is greater than at any time
In compljirg with the requirements, of
section 333, pioviding that the Comptroller
9'iall suggest amendments for the improve
ment of the banking law. he first calls at
tention to the fat.t that under section 1
of tht act of Ju!v 12, 1SS2. under which
extensions of national bank charters may be
granted bv the Comptroller, he is limited
bv the act to one extension of twenty ears
I iider this section the charters of 1,717
national banks were extended for a term of
twentv jear;, from the date of expiration
ot their ilrst charter.
ExtetiMion of Charier Recommended.
The first of the extended charters will
expire on July 14, 1W2. and the others will
tollow in due course The Comptroller then
"Without additional legislation authoriz
ing a further extersion. a hank desiring to
continue in business under the national ss
tcm, whose corpoiate existence has been
once extended, will be compelled to go Into
liquidation at the expiration of the period
of Its extension and reorganize as a new
assncl ition.
This co irse v ill remlir necessarv the
complete winding up of the affairs of the
expiring bank, the retirement of its ciiuiln
tlon the withdrawal of Its bonds and the
issuing of a new certificate of authority bv
the Comptroller with a distinctively new
title and thaiter number, as i at present
the case with an entirely new orgaiiiz.it ton
While the leorganlzed association might
continue to be In all respects the same bank,
with practlcallv the same stockholders, di
rectors and oiheers, the legislation herein
after recommended would render unneces
sarv thec steps, which would be attended
with Inconvenience both to the business
public nnd the b inks
"1 therefore respectfullv recommend an
amendment of section 1 of the act of Julv
12, 1SS2, authorizing the Comptrollei of the
Cunvncj to extend for a further period of
twentv jtirs, under the conditions and
limitaitons imposed bv said act, the charter
of sn"h expiring as1 ociation as mav desire
to continue in the national banking sjstem "
llentrlct lnanR to Director.
The most important recommendation made
bv the Comptroller, and thut which is the
chief feature of tho report. Is one fot id-
ditional restrictions upon lo-nsto directors
and executive officers of banks The Comp-
trolle: states, that the large petcentage ot
bank failures, attributable to excessive
loans to directors and ofheers. which
amounted to 62 failures or 17 per cult of the
total failurso of national banks, led. him
to a careful investigation as to all directors'
lo ins now outstanding In the national bank"
of the countrv.
This investigation showed that on .lune 2.
19C0. the date ot the Comptroller's call for a
statement of condition fiom the nation il
banks, of 2S703 directors ot national hanks
in the countiv 1S334 were directlv or lndl-
rectlv indebted to national banks under their
The aggregate sum owed bj these IS VU
borrowing directors and 2279 ollicers and
cmploves who were not directors was $202,-
2S7.441 As the caplt il stock of the national
bink'i of the coumrj on June 29 was ten,,
3G 101, It follows that the direct and Indlr ct
liability of directors and officers amnunti d
to 22 53 per cent, or about one-third the cap-
ital These d'rect and Indirect liabilities of
directors anel officers to banks under tl elr
managemem amounted lo 7 73 per cent of
the total loans and discounts of the na-
tloual svstem
Tin1 Comptroller then savs:
"While these tables do not necessarilv
indicate that national banking officers and
directors, as a wholp. abuse their piivilcgc
and manv of these dlrectois" loans are
among the safest owned by the creditor
jaiiks ji
Tho ahovo commission his acceptenl, on
hehalf of ihe; State, the new State huildln
at Little Hock.
H:f9K;v t'-I:-1 ,'sJBHri "-w jBM&mBKmti&&tDjaaBBBM
rjf"n M BtssVsjljfHv - a alBHHIlvlimSM xliHHHIL KS&iytftM rM
banks, the Coniptiolkr believes the tables
show clcirlv the gn.it impoi tall. ( or a
propeilv fr.untd I iw placing addition il le
stilctious ,ind safeguards mound thesr
lonii", in which the expirii ie of the h ink
ing system tiaehes. Is involved tin ute ite-sl
d tnsv.i of the Impropet and I ix use of
banking funds
For Snft cif HrpoMttor.
"In formul itlng provisions of law lcstnct
lng loans to oxetutiv'eoinc-rs ind dlucto',
It is Impoitant not to make them so iiiiroa
sonahle as to dilie from such service the
active, u sponsible md honest business
mm of the com tiv. '1 he problim is to de
vise sueli resttlctlons for the s,tfLtv of the
ileposltors is will dlse-ourage lmproptr loan
lug lo llrectors while not injuring the de
positors bv discouracing to too gieat an
extent the assumption of the duties ot b ink
directorship bv the active and responsible
members of the business eommunitv.
"I'limarllj. the law should hive In view
the saf. tv of 'the. depositors, and it should
be nvonized that their snfetv Is as much
endancered by the pissige of a law vhlch
would drive good dmctois fiom the nr. ke
as bj the existtnee of a law which docs
not sutllclentlj restrict the oppoitumtv id
ilishonist dnectors to abu-e the powers of
their position.
"It svems Plain to the Coinutiolli i tint
anv law upon this subje'et should m ike a
distinction in the niture of tho restrictions
upon dlrictors who are not olllci rs which
will rot Involve as much ot a deln in the
making of loins to them as in the miking
of loans to the exeiutlve ollicers of a b ink.
since the latter hive the greatoi oppoiluni
f and litltude fot improper methods in
the use of trust funds
'The Comptroller (.Ives hciewlth a copv
of the bill introduced at the last session of
Congress bv Manlott liroslus, chaiimnii nf
the Committee on Hanking ard Currenev
(11. It 1204! riftv-sixth Congress, (hst ses
sion!, which has hid his careful considera
tion, and the pass ige 0f which, with .some
idditioiis, lie tarnestlv l -commends Thl
bill has been drawn ei as to insuie a gieit
er degiee of s ifetj in loins to dircctois
nnd othcers with what is biheved to be i
mituinum of lneonven'eiue to sudi oflieiis
consistent v Ith the setv of lcIi trans le
tions li properlv recogul7es the d'stnic
tion In the relations of directors to a h ml;
and those sust lined bv txiculive olliLirs.
"It will be noted tint the provision m ide
bv this bill for the fixing ot a line of credit
for e ic'i dluctor In advance icduecs to a
minimum the Inconvenience of the greater
supervision proposed Aftei such i line of
credit has been fixed bv Ihe TSoml of Direc
tors for an Individual director, he will li
no more h implied will. in tint limit undei
the proposed 1 iw than ne is at piesint "
I'rtn Islons of the liroslus Hill.
The text of this bill is printed in the le
port. In substance, it provide" th it. no
national bank .'hall loan to its ollicets oi
en-ploves until the piopo-ition foi the loan
shall have been submitted in writing to the,
directors or Kxeeutive Committee" of the
bank and approved bv the majority ot
tl cm. A fine is tlxcd for inflections of this
section. It provides tint at any regttl tr
meeting tho directors of a national hank
mav llx bv resolution the limit of credit
which shall be extended to anv director.
AVIthin the limit of credit thus fixed, the
executive ollicers, in their discretion, m iv
loan to directors without other action bv
the board Unless the limit of credit h is
been thus fixed, an application fot a loan bv
a dtreclor must he hi writing, approved bv
two other directors. Such a loan mav be
made b n executive officer, but must b
brought to the attiution of tin Hoard ot
IHreqtors at its next meeting for pui poses
of record. A penalty is provided for viola
tion of this seetion The bill also contains
the amendment to section 3200 which in
his two former luiorts, the Cnmpttnllcr
leeommcnded lelitlve to restriction upon
the general loans of binks
Section 3201 .at rresent leads as follows;
'Ihe total llabMitifs lo .am socHtitn of anv
pirson or of .ins compuis con-omthn m firm
tor monev torrovid inclu litis hi lh liihillth-.
of i (inonv ci firm th lialiilttis of the s,
cral n. nmers thereof shall at no time ixm-d
ore-tenth pirt of th amount of lir- capital "toik
or such as-.(Kiaikii ariuullv paid 'n Hut tie1 -lis
cojnt of bills of xi linnet -d-awn in cool laltli
asalr-t nctualb exisiim; valut-i. and ih. discount
of ccm'nerclal or business pjpt r actu illv owned
ly the persyn negotiating the Burnt-, shall not be
cCnsidelcd as tiioces lori-od
The failure of the pitsent law to ptovide
the povvei to applv a penaltv for the mak
ing ot excessive loans sometimes embar
rasses the Compliollti in endeavoring to
check tendencies towatd rcekles'iiess m
loaning which point to the ultimate ruin
of a banking Institution
llHtlct of ltcsoiirt-r tt Cnpltnl.
The prcent need Is for an amendment to
this .provision which, while compelling, un
der penaltv. the safe and proper distribution
of loans of larger hanks, will emble them
to loan more nearlj the same per cent of
their tot il asets, which the present pio
vision allows to small banks In this n.ij
tlle ollicers of larger bulks can supplv tne
proper needs of the 1 irger communities
witliout disregarding the law. and the
Comptroller can hold them under person il
Penalty to strict observance of the amend-
p law which, when dlsrcgcrded. would In-
dicate Imnroper distribution of loans, soni.
thing wiich infractions of the present pi '-
visions in the case of mill) banks do not
nce.arlv Indicate.
The greatei ratio borne bv bu.kiugic-
sources to hanking capltil in the larger
communities, as compared with a like i.uio
1" smaller communities, is respon-ibie foi
'"e defective and unequal working of tho
present provision.
The average ratio of resources to the av-
crage capital of tho foitv-foui nation il
banks In the cltv of Xew York is us n 3 is
to 1: of the sixteen notional bulks lu Chi-
cago us It 2 is to 1: of the six nation il banks
in ft Louis as S 2 is to 1; of the 25 national
binks In other reserve cities as 'J is to 1:
while in the 3,400 countr hanks the latio
is but as CI is to 1
The law limiting loans lo 10 ner cent o
the capital, when applied to the ! Jt banks
, of the smnllei communities of the countiv.
I as a whole, would allow the loaning of 1 3
I Pel cent of their total assals to one Imli-
vldual. As compired with this the banks
i of tin city of New ork, on the average
could rot loan over
dreelths of 1 per cent
to auj one individual;
flff-si-ven one him
Of their total assets
the tnnkj of Chlcn-
go not over seventv
emc-hundieelths p r
cent of their total assets; the banks of St
I Ijsuis not over 121 per cent of their total
assets, the banks ot other leservo cities
lu nonor of this historic event the eiti
7ciis of I.lttle Rock nnc the entire State ot
Arkansas will hold a celebration l.ntlng an
not over 1 10 per cent of their total assets.
Injustice to Lnre llniikx.
In othet words, tho proportion of their
assets which tho counto banks of the
United Stattb can loan, in strict compli
ance with section 32.0, to one individual, is
fort -six oiie-hundredths ot 1 per cent
greater thin in 2GS reserve cities, thirty-live
on. -hundredths of 1 per cent greater thui
In St. Iiuls, over twice as grc.it as in Chi
cago and nearly three times as great as in
tho cit of New York
This provision, as it stands at present,
constitutes an incentive! to the miking of
loans tho larger In proportion to th.- total
assets of the binks In smaller communities,
wheie. as a nde. large loins which are
safe are the most difficult to tcuie, while
in tho lirgil business tenters or the coun
trv, where tommerelif conditions create a
ceitaiu dcnimd, both from banks and bor
roweis, for large ami sale loans, n-, erfect
Is the lev else to such an extent as to be
lnjuiiotis .... , , , ,
The Coniptiollcr states that in his Judg
ment the pie sent provision, when properlv
altered, should allow tho banks of larger
communities to have mine ncarlv the pm
ilcge of loaning a given pet cento theii
total assets lo one indlvidii il. which lion
belongs, under a strict compliance with the
present provision, to the bulks of the
smillei tommunities. I'rom this privilege
the'V are now deb irrril bv law.
He suggests that after the wends. In sec
tion :a. "shall at no time exceed one
tenth pirt of the ..mount of capilil stock
of such association actmll.v paid in," tne
following words.
Provided Tint tho restriction of this section as
b tti. amount of total nihilities to ans nsw ela
tion of am person, or of my eoimunj. corpora
Iton i.i fun, for mom i biirronid Khali not i plv
win re a loan In exe.ss or one-tenth part of Ihe
capital st.nk shitl be Ins than 2 per cent nf til"
loul is(ts f vnl.l bink at the lime of muKlng
aid loan bald loan rhall he at all ilm"s urn
tcetcd bs eollatiral se-eurilv ciual t or grriti?
In value Hum the excess In tho amount of said
loin over one-tenth of tho capital siuek
A stiiit petnltj, enforcable bv the
Comotrolln, should he piovldecl for pifrac
ti'.ns of the amended section bv the officer!
of bulk, to enable the Comptiollci to sue
cctsfullv enfoiee general and stiict com
pliance wall its terms
l'ropose-il Vmriiilliient nnleil.
The suested amendment will mike sec
tton 320s just and equitable In Its red itlon to
all national banks and lo ill communities
of our eoiuiti, large and snnll. which it is
uot at l n sent.
It would not lessen the amount which
the smaliei binks tan now loin In com
pliance with the section as it stands at
present. At the same time, it would not
allow the 1 irger banks to loan anv one ia
dlvidiiil oi corpoi.it'on more than 10 per
icnt of the capital, unless such loin, in
addition to bing secured for the excess,
'.ould not amount li a greater pel cent it
the tor.ll issets than is consistent with
the site disttilmtion of loars and the lc
siiltant pi.itiction to depositors
Section 3-1"'. thus amended, will not inter
feic. as at piesent. with the right of the
b inks in tho larger communities to meet the
legitimite itqulrements of buslress in theso
commeiclil eeutiis Tt will enable the
Comptiollci. by its enforcement, to prevent
anv undue concentration nf loans and con
serv" theii general distribution
Under th" section thus amended, the cap
it tl of a bulk will be protected, inasmuch
as no loin in excess of the 10 per cent limit
can then be made, excent upon proper
vnllatci.il secuntv.
lie penalty clause will enable the Comp
trollei not onlj to limit the sijrp, but to
cnf.noe the seiuiing of excessie loins
IliuiU Deposits us lanh Ite'sei-ve.
The question of those laws which affect
the rUht of one national bank to consider
as a cash rt'souice a deposit In anothel
national uink, called its itserve agent, is
one ot great lmpoiiaiice ami involves the
most fundament il principles of safe hulk
ing 'Ihe extent lo which the reserve of one
bmk can safelv be represented bv what is
practlcall. a loan to another bank. Instead
of bv tush m us vaults, is a prope r subject
for consideration at this time, in view of
the fimmiil experiences through which this
courtly his pissed during the past feiV
In times of financial crisis, such as ISM.
vvlie-n there are wielespieud withdraw lis in
curicno, not only in reseive cities, hut
throughout the countrv. the. reserve cltle
are subjected lo .c strain which endangers
the et ibililv of the entire banking sjstem.
The itserve banks, as a rule, recognizing
the Instalnlitv of bank till inces, must loan
a larf-c proportion ot theii monev on call,
'lo secure sufficient call loins thev must go
to the speculative exchanges, and the in
jurious results of that practice are easily
Il is onlv bv loaning money on speculative
f-ecmilies that the banks ale euibled to rav
tho high rates of interest on bank-deposit
balancis which form the attraction to the
country b inks for the deposit of so much
1 irger a portion of their funis in Xe-vv York
th in is needed foi the clearing of exchange
Muring the summer of lWi there occurred
a niirkid di monstiHticui ot the evil cffetls;
of this practice upon the legitim ite business
of tin- countrv. At tint time there vv is n
marked slackening In the demand foi
lnonev In the interloi of the countrv, and
the banks ot that weetion found It dlflltult
to sufedj loan their funds. ,s a result, tho
Intel est paid bv Kistern reserve agents
upon deposit Inlani es attracted an immense
surplus to -Sew- York and other Kastein
I '11 nle Vverteel This Frill.
This icdundino ot monev in Xew York
and the ir ist and the ease with -which loans
i pou speculative eolliterals were there ob
tained immedi ittlj ciealed a speculative
movement, In stocks, which was carried on
with a constant)! rising range of prices
until the fall or I ist vear. At thai time the
ciop movement in the West and the llslne
late of Int' rest tlicre led the b inks of the
interior to draw upon their InHntes in
Xiw ork and to order the shipment of
large amoimls of tuireno, us against these
h ilances
It Is to be noted that, at the time these
demands took place, the business of the
countiv was in a prosperous condition, with
a tendi'ncs toward an Incrrase In general
prices ind the wages of lnbor. There Mai
no lack of confidence In the countiv and
nothing which Indicated panic conditions,
and vet this demand bv the banks of the
West for the shipment of currenev on de
posit vith reser.n agents, resulted in a
pinic upon the Stock Exchange of New
York, which instantiv became a grave men
ace to the entlro business of the countrv.
In the abnormal dennnd for monev tre
ated bv this panic on the Stock Kxcltange.
the ordln irv credit to the legitimate busi
ness and commercial enterprises of the
countrs were necessiuilv curtailed bv the
blinks, and uneiuestlonahlv great damago
would hivq been done to such interests hul
not the fcecretarj of the Treasury, seeing
the possihllitv of evil to the country at
lirge Interfered to prevent a rapldlv in
creasing stringency In the monev market.
should Hold More- Cnxli.
It is to be rem-'mbcred, of caure tint
the cxi hnnge business of the interior banks
will alwns neeestnte huge deposit h il
ances In Ixew Yoik and other teserve cities,
and tint at certain seasons of Ihe vcar ab
nornnll large halluces of Idle funds um
bo attiactcd to different parts or the coun
trv. following hlghei Interest rates But it
is suKKested thit public pollcv dcannds
that bulks or the country should not bo
JONES. Chalrnmti.
entire week, hcsInniiiB November 28 and
cnclltis December 1, Inclusive.
The State furnished its own material and
Havana f
All throucfli tlic Cuban
war wlieii Vuelta Abajo leaf Avas scarce we kept
our word and used it in El Merito. We could not
afford to invite you to smoke it tlicn, but now we
can supply any demand and we offer you
El Merito
5 Cent Cigar
Mndc for smokers who appreclato good tobacco and
practice ee onomj .
KOLT7. CLVBril X ( 0., Suanulatrri, Di.Wiljbl..
WM. A. STIC-KNEY SE6AR CO., Distributers, St. Louis.
Until Jauuary 1st, 1001, j'ou can get FREE a one-ounce
bottle of JAS. PI. FORBES f Vanilla Extract, which
is ihe best and purest, if you buy a one-pound can of t. F
Pure Cream Tarter Baking Power at 40 cents. It is the only
Cream Tarter Baking Power that you ran buy at this price.
nIlov.fi to deposit with other banks so
I irge a portion nf tint fund which. In
theoiv, is regarded as sieiedlj devoted to
tile protection of the Intel ests of the de
positor Th"j should be compelled to hold
a larger portion or this fund In c i'h In their
vaults, .o tint It can alvvavs be devoted to
its pioper use bevond pel-adventure
ill the puuc of lS'i" the New York banks
refused to ship currenev In response to de
mand from banks in the Interna for a con
siderable time, showing 111 the- extreme tc-t
of pinic that the icserve which had been
counted as cash bv the batiks of the coun
trv was nut. In fact, at all times available
to enable them to meet tie deniinds of
their deposiKis.
While restrietionsi placed upon th" pivver
of banks to count as bulking rese-rve o
lirgo a portion of morev on deposit in re
serve cities will not hiive- the effect of pre
venting speculative Iran-ictions jn morev
centers-, it will not have a tendencv to-n-courage
them to so great an etent as ilbis
the present law. at a ilsk at times to tin
best Interests of legitimate business, and at
the cost of weakening the banking sstera
as n whole by creating too grc it a dispro
portion between tho aggregate cash re
sources nnd aggregate depolt liabilities.
It is lo lie lemembercd that so far is
the ability or the banks to serve the public
Is concerned. It will not be m iterlallv 1m
pilred bv smaller balances in letorve c ities.
The banks, ot nccessitv. must Turnisn ex
change, and vnll accordingly keep the ba1
ance with correspondents necesirv for such
purpose. The permission glvin bv the law
to the banks to count as a p irt of their
cash reserve a balance with their reserve
agi nt is primarilv for the purpose of con
venience and piollt for tie banks, mid not
for the convenience of the public- lu anv
of its leiations to the bank
Too Vlue-Ii I.nlltilde tm Pc mill toil.
The Compti oiler believes that, under tli
piesent law regarding reserve cities, too
great latitude Is now given the barks in
connection with the use of the resorve. the
pilmaiv object of which Is the protection
of the depositors of the banks, and he rec
ommends that amendments to the laws be
passed rcqunlng that a larger proportion
of the reserve should be kept in cash In the
vaults of the bulk
Considering the banking svstem as a
whole, the present abilltv of binks to use
credits with reserve binks as a basIi of
loans crcites too gieat an extension of ag-Rrej-ite
deposit credit0, ns compared iv'tli
aggregate cub resources which, in tlinesi
ot liquidation and linanelil panic, increases
the necesMtv upon the banks of dem mdlng
pavment of loans trom the eommunitv, ami
adds to the elemoializition or business in
cident to such period,
Bv lucre islng the resliictions upon the
right or banks to count deposits with le
seive agents at. cash, a llrnier and rarer
fcundittlon will be built under the deposit
credits of the countiv, and It is the belief
of the Comptiollcr that In times ot liquida
tion the greate r strength of the hanks will
more than compensnte them for the Iois or
the small amount of Interest on a portion
of theii balances which ma be due to a
change in the prewnt law.
llrduco I'rom 'Ihree tit Oiie-l'Iftli.
Tt I. therefore, recommended that section
r.l'y of the He v Ited Statutes of the I'nlted
States be amended so that, under its pro
visions, imt one-tifth Instead of three-tilths
of the reserve of l'i pel cent required by
law to be kept bv banks not reserve agents
mav consirt of bilances due to lcerve't
banks, und tint section iwr, of the Hevlsed J
Statutes of the t nlled s,ate. which au
thorizes banks In smaller reserve
cities to
keep one-half ot their 1 infill mo-icv reserve
lu bilances in central reserve cities, be- r?-
,. ,jP,l
The rcmrtroller repeats the tecommendi-
lion, made bv hi" predecessors, that the
nreseilt law should be 'o amended as to
ptovide fixed snlaiics tor bank examiners,
,,. m unbl from .a fund collected from I ho
1 banks, to lake the pi ice of the fee sjstem
now In force, ine amount .mowed an ex-
GIXRGni: MANN, Architect.
tho vvork with Its convict. The total
cost of the new building Is estimated to be
?17,0X. .
amine r foi the examination of smaller
b inks is not sufficient to compen-ate him
for the time necessary In manv-cases ror an
extended examination. The present sv.stem
encourages, to too great an extent, super
llelalitv In examinations, and Interferes
greulj with the proper and wise appor
tionment of time of examiners among the
different banks.
Amonjr other recommendations, the
Comptroller tronglv urges laws regulating
international and intercolonial banking as
ili-tlngulshed from domestic banking, and
prints, in an appcne'lx. the result of lnves-tl-'iitions
In hanking conditions in I'orto
Itico. Hawaii und the Philippines.
,Janit" Awiik Disappears Tncto'
J'ceuli.ir Circumstances.
James Aswlck. a psddler of -vegetables,
disappeared list Thursday and has not
been seen "Ince. When la.t sen he had
in his possession about ?ir la cash and his
frienus fear that he mav have met with
foul plav. Other-- discountenunce the idea,
thit he is the victim of any violence and
believe that he will show up in a few clays.
Aswtek lived at No IMS l.afavette avenue
in a rooming-house conducted by Mrs. Mary
Hnrtv. The horse and wason he droe be-
J longed to Kdvvard Itook of Xo. 1S3) South
Tenth street. Thursday aiiernoon ne com
pl lined of feeling badly and on reaching
nis room remarked to his companion, who
is known only by the name of Whlto. thut
he was going to see a, doctor. He jumped
out of the wagon, which at the time was
st Hiding In the street In front of his homo
and cut across the lot on Lafajette aven-e
on which the old City Hospital stood. From
that time r.o trace of him has been found,
though the most diligent search has beet
mai'e for him by his friends, assisted by the
police. "Mrs. Ilerty said last night that shu
had no idea where her former roomer was.
-he. did not think that he had met any
foul play or that he was dead. "In either
of thoe cases," she said, "somebody v. ould
have seen him and repotted the matter to
the police. I think he will turn up all
right In a day or two"
Itook. who renleel the horse ami wagon
to Asvvick, and who claims that he owes
him ?U ro for money ho advanced on his
load of truck on the dav he disappeared,
was not much alarmed for his safetv.
Has r.o equal for it"5 well-defined purposes
of aiding the convalescent, the weak, the
mother, in recovering health, strength, ap
p -lite, alade onlv bv the Anheuser-Busch
lircwin,-; Ass'n. tit. .Louis. U. S. A. Soil
bv ail ditigglsta.
Wife and Friends Mystified by His
Continued Absence.
No tidings have jet been received of Con
lad Kratz. who disappeared from, his home.
Xo .'111; Oravols avenue, last Monday. Not
I tilu slightest trace of t
, " , . ,. .,, ,,
discovered by his wire
, M'"-' ot " ?",i,iu""
f the man has jet been
Ife or relatives, and In
is search they can find
no cause for Ills absence.
So far .ts his wife h is been able to dis
cover, he has no debts which need have
embarrassed him. All things taken to
gether, his absence appeals Inexplicable and
his friends are gieitlv- worried. As was
told in jesterdaVs Heptibllc. Kratz was a
driver for the 1'. AV. Clemens Feed Com
pm, of No 3337 Gravois avenue. He
slatted out Mondav morning-with his team
ns usual ami that was the last seen of him.
His team was found late that evening at
Seventh and Sidnej streets. Kratz Is ?,i
jr.ars old, weighs about Vrt pounds and is
about five feet six Inches tall.
Little Liver Pills.
Must Bear Signature of
5ee Fac-SImlle Wrapper Below.
Terr all aavd as easy
to take as ansar.
.. a mtmumvMSWa wvwiiwrwwmwKmntt
JBk 9wettr TetetMe.s&i&'&irC
aau'-i -MJUit mm
Hcsular pale every Saturday at warehouse.
IS i' 10 I: Ctio'iteati av r. Sales In residences a
mectaltv- Uala cltice, 304 X. bixth St. Phons
Main Si'Mi.
gtvinjr Uav)
"When Knighthood
Was in Flower."
"When We Were Twenty-One."
Ite erved Seats on S il Thursday.
All Tab, Vck and Next Sunday:
IllILLNt: MOllV.
llfillou iv Trio rrelNIMo.
-Mr & Mr Cene-Ilustifs Muscat ColbJS ,
.VirbMStl O Nell - Torp.
lluiton .V Hruo'ci-s. .. JlarrA-Iienti n
e,asn in 4. l"olluck. VV ilson i VMlsun.
The KliicKironii luan Conurr.
I ira Vttrai-'ion UObi: COGHI.AN.
.isl,ud 1) Louts M isb a and Comi any.
IS 21 title.
OrIrstrv nnirs (Rcserveil In Advance) WB.
Tn night Jt and all this wed:, llotow's ma-ter-
At nines- Wednesday. 2.V ant liOe
riiank-'sivins Diy and Saturday, 2-c. Wc Om
Greatest Sums, EL UHrlllllli
giviug) and
."(- Sundaj
Trie". ?1 Z0r SI 0) 1 mer JloOr.
I'ront ixiv.s nf lialcnr SI,
ante wO and i0u GaJIery. 25o.
AWMjIVU collicr
In hU (rreatt KbccP'M
Ixuis 3Iann and Clara Lipman.
2Zg 3Iat!rco Tuesl3j, Thursday and Saturday, s
fcun. Met. Kelt Veres tie Pacific
Thurs da.
N.ght Prices 15. 25. S3. 30, TTc; Xevcr Ilaiei.
Mit.tredits.ar.iar.Ll. TbtSiher A itnn'cHpirt'
6od SmU, IiC. msffM.Uinr. is A Llu" a "e
Sun. JIat. Eugenia Blair in A Lariv ot QuaiU.
"Hoodman Blind."
.V favorite irelcdrama almost ever since, the days
PRICES: 15-25-35-500.
Matinees Thank 'iv ins and Saturday.
The Home ot Tolly. -:- Two Frollca Sally.
The Oay Trav elers and Senator McPhee.
XVxt Attraction Sani.Dev ere'B Own Company.
710 Locust St., St. Louis. Ho.
blemiibcs, moles, warts, and
superfluous hair speedily re
inovetl; imperfect and de
formed features painlessly
corrected. Full information
with boot free. Call or
JOII.T n. ffOODBlBT. 306 Unmoi-Jitmi Kig
President. Secretary.
Missouri state Mutual Fire and Marine
Insurance Company.
O.Tice Xo TIT Chestnut St.. St. Louis. Mo.
Tel. Bell ataln ZTTl. TeL Klnloch A 1MX
Policies Are Written on Either Stock or Mutual
J. B. C. Lucas. W m. l Ilomts.
D V "VVnlker. Henry C. Haarstlck.
Jas. W. Bell. M. It. Orthweln.
Jas E. Kalm At.tU3tr.s XedJertlUt.
Continues to serve an anpreclatlnir public with
rust-cla-s hand nark, uiins: no chemicals and
havlnc lately adoDted Domestic flnlsh. Phoua
Trlr USA.
ere.. Mtr,n,v,i1. th n.rvcs becont un-
smnc, aniiaweaifred enaclulon ct th todr
! tlie rf iitt : tbr. th" enf rRies ate rtlcd na
att-cs or Com. i.vii-'PP'. ewiracji iruuu-.
T. ...... t in. i v, ni rerrs if:ui
Qn'aj Il-tc'ie Itlv" sircajui iu u
iril racl-!llJs iHrc-ticn,?rillcsani! enriches
tin lilooil. anil WiUiM up me cstiro sj eai.
Paris: 22RueDrouot.
New Yerk t E. Fougeri &Co.,30H.MniliamSb
for over halt a ctntury t popular remedr (.
tierior lo all ctlin) with physlclana In Snroe
na America, fur tht prompt and complete cvra
uf lon-starilinc; or recent cases of derangement
ot the urinary, orcana 'n either sex. At all drU.
Kiiu. TSc bottle ot tt cap2ul.
emt co.. Part.
Notice to Nursery Men.
St. Lotil?. November 20. 1300.
Staled liroposals) will b reron-cd at tha
ofllcp of the Building Departmi'.it. Board of
Ilcluciitliin. on or before 3 o'cl'j-fc p. m. on
the 28th dav or November, m,. for VARI
OUS KINDS OP TREES for hc Publicj
Schools, spedflcatlona for Tvhi-h my t
sen at the Bullelinc; Department, Board of
All hlilsi shall he made out on bian'ts wh.ch
will be furnished for fiat n-jttios" and ad
dressed to WM. P ITTNKR, Commissioner
of School Kiilldincs, and to '. deposited In
the box in the lobby of th iJJ'Mlas; Depart
ment on or before- above datf.
The Hoard reserves the right to reject any
or all Lieb-.
Commissioner oi School EtiJIUinsat,
I Remington i
)r Typewriter,
lt s,.-;.-.-.'cts
. .ij Vv
jai-As--V ,
At" Z - t P"
' j-iitf
Ki,iv- .SH. j5" V tJ '
JOrt-2- i. -tr4ii - "ta tt j.-1
S-' Ci-K
f U.. . ?. -V.-5'A
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