The Birmingham age-herald. [volume], June 19, 1913, Page 3, Image 3

About The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950

Image provided by: University of Alabama Libraries, Tuscaloosa, AL

                
Knox Hats $4.00 and
$5.00
Other Straws
$2.00 Up
Approach the Straw
Hat question as you will
the great thing is do you get value received?
Knox, the greatest hat genius today, has sent
us about thirty new styles. Better see them all
before you select yours.
Panama and Bangkoks
$6.00 to $15.00
1922-24 FIRST AVENUE
.__
COTTON DOING WEIL
IN THREE COUNTIES
Outlook in Coosa, Chilton
and Autauga Promising
for Good Crop
Mountain Creek, June IS.—(Special.)—A
painstaking, careful and want-to-flnd-out
talk with a number of farmers and cot
ton growers in Chilton, Autauga and
Coosa counties is convincing as to the
future, as it looks now, of ihe cotton crop.
That the cool nights, which lasted for a
week or more, has retarded the growth of
cotton is a fact. But that fact does not
Indicate a shortage in. the section men
tioned for this season. As much, so far
as acreage is concerned, has been plant
ed, and Is today in good fix. It is time
that the cool weather has had a tendency
to Increase “lice on cotton.” but that in
crease has not, so far, been so much as
to decVease the yield to any extent that
would curtail the yield very much.
Then, as to “Muckroot,” there is some
in this section, but that is only here and
there, and not general, even in neighbor
hoods where it has appeared. In a single
sentence: Cotton is doing tine in the coun
ties mentioned.
As to corn, the plain facts are that more
acres than in former years have been de
voted to tills crop, and corn, like cotton
here, is growing fast and looks well.
Suffragettes Sentenced
London, June IS.—Two militant suf
fragettes Miss Marianna Clarendon
Hyde and Miss Buntington of the Wom
ens Freedom league, today were sen
tenced to u fortnight imprisonment for
obstructing the police at a suffra
gette meeting yesterday near the res
idence of Premier Asquith.
CLOSED™ 4 DAYS
Excise Commission Issues
Order; Barkeepers Hav
ing Permitted Loitering
Troy. June IS.—(Special.)—All saloons, 1
both retail and wholesale, have been
closed by the excise commission.
This action was taken Monday at a
meeting of the commission, to which they j
had ordered all saloon dealers to appear I
and show cause why their licenses should 1
not be revoked for violating the regula
tions. The charge upon which all were
found guilty was permitting loitering in
their respective saloons, which is prohib
ited by law, and as a punishment the com*
j mission ordered, all saloons closed at 31
o’clock Monday night and until »» o’clock
Saturday morning, a period of four days.
| This order affected four retail ajid one
I w holesale house, one retail house ami one
■ wholesale house having recently closed
out on account of a failure to realize a
profit.
Killed by Son-in-Law
Knoxville, Tenn., June 18.—James
Williams was shot and instantly killed ;
this forenoon by his son-in-law, Hob- j
ert Martin, a barber. The tragedy j
occurred at Martin’s home and is al
leged to have resulted from domestic |
troubles. Martin was arrested and j
lodged in jail.
Earthquake Felt
Fort de France, Island of Martinique.
June 18.—A severe earthquake shock
was felt here shortly after midnight
causing considerable excitement. No
damage, however, or loss of life has
| been reported.
See Colorado
^ This Summer
IT’S the place for the tourist.
Not far away—and there is so
much to see and so many in
teresting side trips that one could
be made each day for a month
and not exhaust the supply by half.
Beautiful Estes Park offers every attraction the
k tourist or vacationist could desire—comprises 100,000
acres of wonderful mountain scenery—reached from
Denver via Union Pacific to Fort Collins thence
through Big Thompson Canyon.
Low Round Trip Fares I
in effect now. Tickets on sale daily to Septem- j
ber 30th. Return limit October 31st, over the
Automatic Electric Block Safety Signal protected, .
well ballasted double tracked f
Union Pacific
STANDARD ROAD OF THE WEST
Via St Louis, Kansas City, Omaha or Chicago.
Excellent daily train service via either route —
Standard Pullman sleepers. Tourist
sleepers, free reclining chair car—
dining car service.
Side trips Denver to Colorado
Springs or Pueblo and return without
extra cost. Ask for handsomely illus
trated booklets, "Estes Park" and
"Colorado for the Tourist" i
CM ROLLINGS, T. P. A.
520 Woodward Bldg.
Birmingham, Ala.
M.B.—'Thenaw and direct tenia
to Yellowstone Nations) Park.
Allexpense personally escorted
tours perfectly routed have been
arranged. Pull and oomplete In
formation is yours for the asking.
BANKS HUSBANDING
MONEY 10 ASSISI
IN HANDLING CROPS
Enormous Demand Antici
pated in fall—Crops Ex
pected to Break Records
NEW TARIFF CHANGES
MAY REQUIRE MONEY
Disparagement of Underwood Bill
Is Rarely Heard In Financial
Center—Banks Want Feuds
in Fluid States
By HOLLAND
New York, June 18.—(Special.)—'What
are the cautionary or anticipatory meas
ures which the banks of (lie United States
are now taking and why is it deemed wise
to adopt these measures? are questions
which have been asked of some of the ex
perienced men of finance and bankers of
this city.
Today funds are in plenty. The banks
of the United States, at least the leading
banks of the great financial center, ore
carrying reserves in far greater amounts
than the national banking law requires.
These reserves are increasing, funds are
flowing in from the interior to the large
financial centers, ultimately no doubt to
find lodgment in great measure in the
banks of New York.
Yet it lias been almost impossible to ne
gotiate large loans and even the railroad
companies have been compelled to a con
siderable extent to rely upon the market
ing of short time notes for funds of
which they are in immediate need. Money
market conditions were such as to make
inevitable the sudden receivership of
what, notwithstanding its bankruptcy, is
still one of the great railroad systems of
the United .States within whose power are
great possibilities for gaining resources
and strength.
The answers to the questions above
stated have been, on the whole, of simi
lar purport. They contain a diagnosis
not only of world wide but of domestic,
financial and material conditions.
First of all, there is the prospect of a
harvest perhaps unprecedented in quality
and quantity. Certainly unless there be
very disastrous climatic condition when
hot weather comes the harvests are to
compare favorably with any the farmers
have ever garnered. There is a reasonable
prospect that in its entire volume it will
be a record making harvest. The money I
needed whereby the harvest can be
financed from the fields to the market
places will in any event be reckoned by
many millions. The currents which now
flow from otiier parts of the country to
New York bearing currency in great vol
umes will inevitably be reversed when
harvesting begins. Therefore these funds
now on deposit in New York will be with
drawn and in all probability heavy dis
counting may be asked of the New York
banks.
The Crops Must Be Moved
For it is Axiomatic in American business
that the crops must be moved as speedily
as possible from the farms to the mar
kets. We depend to so great an extent
upon the money received for these crops
for our industrial and financial wealth
that it is vital that whatever else in the
way of demand may occur the crops first
of all must be taken care of.
The great banks of the United States
are now conserving their resources so
that they may be able to meet the de
mands, however large, which will surely
come in the fall. For that reason the
banks must have liquid assets and liquid
funds in abundance. They must be care
ful at this time not to make large loans
extending over a long period of time, for
if they do they may find themselves hani
peied in the early autumn and through
out the fall when they are approached
by those who want the money with which
to handle the moving of the crops.
The Tariff and the Banks
It is one of the tarest of experiences'
to hear anyone in this financial district
speak in criticism of the Underwood tariff
bill. That measure is regarded as cer
tain to be formulated into law. What use
is there, therefore, to criticise what is be
lieved to be a certainty? That is a state
ment which is often heard. But it is
deemed inevitable that after the Under
wood bill goes upon the statute books
business exigencies will bo created which
will make a demand for funds reasonable,
even vital; for if business cannot be ac
commodated then the Immediate effect of
the tariff law is likely to be disastrous.
Banks of the United States are, there
fore, now beginning to husband their re
sources and to make preparations for
keeping these resources in such constant
control that they may continue to be fluid I
throughout the remainder of the year. j
Business Authorities
The prospective opening of the Panama
canal, the marvelous industrial develop
ment through the south and the Impulses
which will tend greatly to stimulate gen
eral business activity will, bankers say,
be reflected in heavy demands for bank
ing accommodations In the fall and In the
early winter. It Is not merely expedient,
but even, reasoning from the seltlsh point
of view of bankers, advisable, that the
American banks be In position to give
proper financial aid next fall to American
business. That of itself will result,, sooner
or later, in creating conditions which will
bo of profitable Importance to the hanks
themselves.
Then. too. there is the certainty that in
the great monoy markets of the world
heavy demands will be made for funds
both by nations and by business interests
These may serve to impair the opportuni
ties the United States otherwise would
have to secure funds in Europe. There
fore. the American banks must nurso
their resources and keep them under in
stant control in order that they may be
what bankers call fluid—readily available
blithe late summer and throughout the
In order to maintain control over their
resources and to perfect their fluid char
acter the bunks will make cautionary
use of their money. They, therefore will
be glad to lend call money collateral se
curity. for they are at any time in posi
tion to get their money back upon these
loans. They havo but to demand pay
ment. In the next place they will make
few if any time loans covering long
periods, say four or elx months. They
must take care of their regular customers,
but It Is probable very little money will I
be advanced by the banke except upon
short time paper. They must be in posi
tion to take earc of the demands of their
more Important customers like the rail
roads, not meaning by that the underwrite
ng of long time bonde, but the discount
ing of notes Issued to meet imperative
railroad obligations. imperatlte
They expect to discount commercial pa
bB f0Und that discounts
of this kind are not for long terms, for
the banks must keep their resources mo
bile. They must be able to mobilize them
so as to meet vital demands of the kind
suggested above, rrhe.e are summaries
of the answers given by bankers to the
SESST* 8t th* ba*,nnln* °f
ALL ARE SURPRISED
AT HENRY’S STAND
ASAINSTPRESIDENT
His Plan for Another
Money Probe Is Not Ex
pected to Materialize
NOT MUCH CHANCE
FOR CURRENCY LAW
President Is About the Only One
Who Favors—Might Get Through
House, But Have Serious
Trouble in Senate
BV C. E. STEWART
Washington, June 18.—(.Special.)—Repre
sentative Robert Henry ot Texas suc
ceeded in creating quite a stir in con
gressional circles last wee!: by his violent,
and sudden attack upon the .roney
devil”. Mr. Henry is opposed to currency
legislation this session, ami believes I hat
still further probing into the by-paths and
various other ramifications of high
finance is absolutely necessary before Con
gress can deal Intelligently with currency.
In spite of the fact that there arc many
members of Congress, both in lire House
end the Senate, who ire avowedly opposed
to taking up tire question of currency
legislation at this session of Congress,
Mr. Henry's proposed method ol i ostpon
lng such action will not receive the sup
port which that statesman expected It
would.
Another long siege of money investiga
tion with Samuel Untermyer as the star
performer, in the opinion of the leaders,
will develop nothing new of value to those
v.lio are framing a currency bill.
Strong Wilson Supporter
Inasmuch as Representative Henry was
supposed to be a most enthusiastic sup
porter of tile administration, and certain
ly was, of President Wilson before and
arter the Baltimore convention? his action
ill openly opposing the administration—the
first man to come right out and lay down
tin; gauntlet—was In the nature of a sur
prise. It was Representative Henry who
Upon any and aJl occasions in the House
during the campaign undertook to defend
President Wilson from the attacks upon
his writings made by republican members
of the House. These attacks were fre
quent and vicious and always the signal
for Representative Henry to rise In .8
place and fix his lance for a charge upon
the defamers of his candidates for the
presidency.
Because of his prominence as a cham
pion of the President and his loyalty to
the Secretary of State, Mr. Bryan, It was
much in the papers that Representative
Henry would become one of the adminis
tration leaders in the House. Not only
that, be was ' prominently mentioned” as
an opponent of Speaker Clark for the
speakership of the Sixty-third Congress
Much in the Limelight
Early in the year, immediately after
President Wilson was Inaugurated, Rep
resentative Henry was among the first to
appear upon the scene at the capital, and
in a very short while the papers were
full of what Representative Henry had
said, and what he was going to do.
During the days when everyone, except
President Wilson., was making up cabinets
for the new administration. Representa
tive Henry was quite prominent. He was
mentioned for almost every job there was
except Secretary of State. Attorney Gen
eral. Postmaster General, and at least
one or two other cabinet places ivore given
to Representative Henry—on paper.
When Ihe cabinet members were an
nounced, however, Representative Henry
was prominent only In that he was not
on the list. Instead, the l.one Star state
was represented In the cabinet by one Al
bert S. Burleson, who is now struggling
with the problems of the postoffice de
partment.
There are those who Intimate that Rep.
resentative Henri' is peeved b,-cause he
was not given a place In the cabinet, and
because be has not been relied upon as the
"champion of th administration In the
House,” and that he thought that he saw
an opportunity to "get even" by putting a
crimp into the currency legislation by
starting ids "money devil probe."
Whether or not tills Is true—there is no
substantial ground in support of such
charges—It is quite true that his move
ment may serve to defeat currency legls
lation at this session.
No One Very Enthusiastic
In point of fact, no one has been en
thusiastic about currency legislation ex
cept the President. The leaders have
yielded to his wishes in the matter, and no
one has been optimistic enough to predict
that even though the House passed a cur
rency bill, the Senate would ever take It
up during the present session.
There is a constantly growing deter
mination, especially in the Senate, to puss
the tariff bill and quit. It will not be
far from September 1 when this is ac
complished, and it will then be verv warm
in Washington. In addition to this fact,
many senators have campaigns on their
hands, and they arc Impatient to get back
and se about their fences.
In the meantime Representative Henry’s
plan to start another probe after the
rr.onev trust anil put his friend. Mr. TJn
termyer, again In the renter of the stage
stands a good deal less show than cur
rency If either is given consideration It
will be currency—Mr. Henry's plan Is des
tined for the junk heap*
The currency bill will be Introduced in
the House, probably this week. The House
may pass It If they can agree In caucus
to support the bill, and they probably
will The President has Mr. Underwood's
powerful force and leadership to fall back
upon and to rely upon In the House, and
It Is quite likely that that leadership will,
as in the past, be strong enough to put
the bill through. But there is no Under
wood in the Senate. as the tariff bill rec
ord of that body clearly proves, and the
upper house will do well to finish the
tariff this season.
__..1
man who taught
CELEBRITIES DEAD
New York, June 18.—John A. Treanor,
who died on Monday at his home In
New Rochelle at the years of 88,
boasted that he had taught Theodore
Roosevelt. William K. Vanderbilt,
Chauncey M. Depew and James Gordon
Bennett how to dance.
Treanor for many years taught mem
bers of New York society the art of
dancing and accumulated a large for
tune. He claimed to have built the
first flat apartment house lrf New York
at the corner of Sixth avenue and
Forty-eighth street.
Te Withstand the Depressing Effect of
the Heat
GROVE'S TASTELESS olliU- TONIC*
enriches the blood and builds up tin
whole system, and it will wonderfully
strengthen and fortify you to with
stand the depressing effect of the hot
summer, 50c*
PcopytTiomt^^
applied
Pianos
On Terms That
Will Make Your
Pocket-Book Smile
JUNE CLEARANCE SALE
TO YOU WHO ARE HESITATING
\our opportunity is rapidly drawing to a close. Only a few more days remain for
you to take advantage of that wonderful bona fide saving of from 15 to 50 per cent on
the beautiful new instruments now on sale at our piano parlors.
Your Family Deserves One. Your Home Is Incomplete Without One
Don t go on in the same old way. You should buy a piano or player for the sake of
sunshine in the home. We’ll see that you get more than full value for your money. Each
instrument sold is fully warranted. Somebody’s reputation—somebody’s business future
depends upon its performance. Buy a piano from us now. Your home will be filled with
laughter, smiles and happiness. No more long silent evenings.
We invite your personal investigation at once as our stock is being rapidly depleted.
A FEW OF THE MANY USED SPECIALS
^^ jjj
HINGE
THOMAS
ESTEY
J. & C. FISCHER
CHICKERING
ROYAL
those who have visited our warerooms of late are more enthusiastic than ever before
over the wonuerful collection of famous pianos on display. Here you will find gathered
under one roof the very pick, the very choice of the piano maker’s art.
It is of great advantage to you to be able to select from such a variety; here you
can compare the peculiarities of many side by side. It is of great advantage to be able to
buy at the ONE PRICE, NO COMMISSION STORE. That’s what this store is famous
for. That is why we frequently sell twenty-five pianos in one day, and every customer
pleased, knowing he has the best his mom^Mt^urv. Come in and make a selection.
I NEW ENGLAND
I>kEWSTER
PLAYER
SEALS PIANO CO.
pmsobowe™6 1 2017 FIRST AVENUE ,
, _ r,» IvM AliiS