The Birmingham age-herald. [volume], September 18, 1913, Page 3, Image 3

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

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FRANCE HOARDING
IN EXPECTATION OF
MAKING BIG LOANS
French Always in Position
, to Buy Up Securities With
Proper Inducements
UNTERMYER’S TRIP
BRINGS MUCH DATA
Visited Leading .Bankers of Europe to'
Secure Facts in Connection With
Framing of Democratic
Currency Law
* By HOLLAND
New York, September 17.—(Special.)
Some of those who have recently re
turned from summer sojourns In Eu
rope have been giving to their friends
some information of a financial and
business nature which is deemed of
some importance. First of all, the in
formation brought by these men from
France discloses the purpose of the
French bankers to prepare thoroughly
well for the expected issues soon to be
made of European securities. Some of
these are consequent upon the Balkan
war. Italy is also expected to be in
the market, principally that of France,
with an offer of national securities con
siderable in amount.
Hoarding does prevail to a very
great extent in France, but it is not
now the kind of hoarding to which
there was much mention last tail and
winter. The people of France, the
shopkeepers, farmers and peasants, an
not hoarding in the sense that they
are hiding their money so tiiat they
may be able always to put their hand.''
upon it and keep it in safety. They are
saving money, although that is a prac
, tice to which they have long been
accustomed. But these savings are soon
to be invested. »
The %g'gre£ate accumulations of sav
ings in France is now reported to be a
very large, sum. The bankers of Paris
liftve reason to know, as they think,
that the French people are accumulat
ing savings chiefly for the purpose of
investing theuse lands in the oew se
curities which it is expected ^U1 be
offered in a short time, in some way
word has passed from mouth to motab
among the plain people throughout
France that the prices at which these
securities will tx» offered will be gpcti
as to make them very attractive to in
vestors. The probabilities a ie th^t
•# V
much the larger part of these new se- 1
curlties will pftss into the possession •
of the French people within u few
months. The excellent machinery
which the French bankers have Ljuilt,
whereby it is possible for French peas
ants and farmers to invest a very
small amount in a security through the
use of a certificate system, makes it
easy to utilize the savings of the
French people in this way. It is to be
financing upon a very great st ale. The
French banks operate the machinery of
this fananeing and the French people
Will furnish most of the funds.
The Heal Hoarding in France
The great banks in France, however,
still persist in hoarding gold or in
keeping as much as possible* In thei'i
vaults, ri anyone should offer a 100U !
franc bill to tbe bank which irsued it ,
so as to secure actual money or cash j
for it, the bank would be likely to
pay about 20 francs in gold and make
the rest of- the payment In silver or
in paper money. A process of that
kind in the United States would be
sure to cause trouble and It was, in
fact, when Secretary of the Treasury
John G. Carlisle said, in the spring of
1802, that he might be compelled t * |
pay government obligations in silver
because he had no gold that the cur
rency panic of the summer of that year
began. Everyone in France, however
knows that the banks refuse to pay
out gold not because they have* none,
but because they want to fortify their
resources "With the world's best and al
most exclusive money metal,
What European Bankers Said
Another bit of Information brought
a day or two ago from Europe to this
city relates to some features of the
preparation of the currency bill now
before Congress. According to this re
f)Ort, Samuel Unterniyer, the counsel
for tlie so-called Pujo committee, was
known by some of the administration
at Washington to Contemplate a sum
mer excursion to Great Britain and the
continent of Europe. He was, therefore,
asked if he .would not In ah informal,
almost impersonal, way give such as
sistance to those who had this bill in
charge as would enable them to get a
fairly good understanding of tjie views
of competent men of London 3nd upon
the continent respecting certain 'unone
tary and fiscal subjects. *
in London, Mr. Untermyer met a warm
personal friend who is also an interna
tional banker of high reputation, one
whose name was never associated with
any of the hearings of the Pujo commit
tee. He willingly offered to introduce Mr.
Untermyer to some of the leading bank
ers of London, to some of the governors
of the Bank of England and to several
men of very high expert authority. Ho
also gave Mr. Untermyer letters of intro
duction to bankers of Berlin and one or
two other financial centers upon the eon-1
tinent.
Everywhere Mr. Unterniyer was received
with courtesy. The questions lie asked
were answered freely and the information
bp sought was willingly communicated. !
He obtained a large amount, of material;
and upon it he based, according to gen-|
enil understanding, admirably clear and '
very comprehensive report. It was an,
excellent treatise upon several of the sub
Jects which the administration and the'
banking and currency committee at Wash
ington had centered much study upon.
This report was shown to the interna
tional banker who had made It so easy!
for Mr. Untermyer to secure the informa
tion which he sought. He read it through '
carefully and spoke of it in terms of I
G©£ •
the
Genuine
See that the seal on the bottle you
buy is unbroken. That is your pro
tection in getting the pure, unadulter
ated tonic stimulant that has been
made for over 52 years
For Medicinal Purposes Only.
If you expect to obtain the benefits that
this great remedy gives 'be sure you
take only '
Duffy’s Pure
Malt Whiskey
■inn ■ at wn?n nuying it you receive none or tne many Imitations
of thin renowned medicine now on the market. You readily
understand that where your health is concerned
i Substitutes Are Dangerous
Duffy’s Pure Malt Whiskey In made for medicinal pur*
poseaonly. It is of a higher standard of purity than
,-•> io equired by the U. S. Pharmacopoeia and is tha
m j on.y Y/hukoy trxed as a medicine by
Government tiarin'T the Spanish War.
f. .• k
■
mmSHidlW I LiJI'
To
[
These 1
> only. I
this is y
over the
visit D<
The fa
jj Octobei
Many
, little ca
portuni
1 your rei
I Excellent
I dining ch
I For specifi -—v — —- »—.««
S res» 0 |j
I CM. ROLLINGS, J2 ^
I mo Woodward f 108 Olnra Straat f.
I ^Correspondingly cwto_
-
’
Water Is Struck at Depth of
1800 Feet
PUSH WORK ON HOTEL
Philadelphia Promoters Consider Sink
ing Oil Well to Depth of 3500
Feet—Newsom Receives
Commission
0"-"
Decatur, September 17.—(Special.)—W.
H. Anderson, who has charge of the wor^
of sinking an oil well for the Rock Oir
company of Philadelphia, Pa., three miles
east of Hartaelle, this county, was in
Decatur last night.
Mr. Anderson said that he had gone
down 3800 feet and had struck a'.stream
of water of sufficient volume to, supply
the two Decaturs and Hartselle with wa
ter. He said that he was in favor of
sinking the well 1700 feet deeper, but was
waiting on instructions from Jthe head
quarters of his company.
The big department house of Ory &
Cohen opened for business in New De
catur this morning. It is the largest:
department store in Alabama north of
Birmingham. Mr. Ory and Mr., Cohen'
are from Gadsden, and are pushing bust-j
ness men.
The store occupies a large double store
room and- basdnent on Second avenue
in New Decatur.
T. J. Newsom has just received his
commission as justjre of the peace of
the Decature beat, vice W. A. Pettey,
who resigned a few weeks ago. Mr. New
som has been constable of this beat for
some time and resigned to accept the
office of justice of the peace.
The Politinsky hotel, which has been
under the course of construction here for
some time past, but on which work has
been delayed, will now be rushed to com
pletion, it is said. This hotel is located
at the corner of Church and Railroad
streets. It is a three-story brown brick
structure.
praise. But he said: “It was not neces
sary for Mr. Unternftyer to hold conver
sation with any of tlie bankers on the
continent of Europe in order to secure
the information which fie has embodied
in this report. It was not. necessary for
the administration at Washington to ask
Mr. Untermyer to obtain this information,
ikcaua© there is not a single statement
in the report, hot one line of informa
tion in it. which could not have been oh*
tained from the report of the national
monetary commission. If this report#
therefore, was of any influence with those
who drafted the currency bilk then it
could he said without any great varia
tion from the facts that after all the bill
was drafted along certain lines upon in
formation contained In the report of the
national monetary commission.”
Those Similar Bids
On the face of the statement it did look
as though the bids recently received by
.the navy department at Washington for
armor plate were made up after the sev
eral bidders had compared notes and come
to an agreement. The similarity of the
hide did, it is said here, justly grouse
the suspicion of the navy department,
yet there is 'excellent gutl|qrjty for re
porting frtYat/ this similarity was due en
tirely to action taken by the Secretary of
the Navy in President Taft's administra
tion. He fixed a certain standard price
for armor plates. The bidders who re
cently made the offering presumed that
the ruling of Secretary Meyer still re
mained in force. There Is good reason
to presume that the United States Steel
corporation, or at least some members
of the executive board, would without
any regret sell to the government Its
plants for the manufacture of armor plate.
It Is very diffHult to operate those plants
ho h» to m&ke them remunerative. There
Is practically only one market for the
product and that is the United States
navy, although South America and some
of the smaller nations infrequently enter
the market.
Election Tomorrow for an
Amendment Limiting In
debtedness of City
V I
Meridian, Miss., September 17.—(Spe
| rial.)—'There will he an election in this
city Friday, September 19. for the. pur
pose of adopting an amendment to the
city charter, limiting the amoftnt of in
debtedness that can be contracted by the
city to 10 per cent of the assessed valua
tion of city property. This is made neces
sary from the fact that a bond Issue of
$275,900 has been voted- and a good part
of it sold to the New York I.ife Insurance
company, with the understanding that
the city would put in this limitation
which applies to all other towns and
cities of the state by statutory enact
ment.
An effort was made some time ago lo
veto this amendment, hut it was compli
cated with several others, some of which
numerous people opposed and it was
voted down, as it required a two-thirds
vote to adopt. This has compelled the
city to issue scrip in payment of the
city's expenses, even the policemen be
ing paid off with paper of this.character.
During the last few days some opposi
tion has developed to the adoption of the
amendment, owing to the fdet that the
city council. In drafting the amendment,
did not limit it to the sole purpose of the
10 per cent proposition, hut put in other
things that would require a charter
amendment for each item, tf not voted for
Friday. It,is not believed, however, that
the opposition to the amendment will he
able to defeat it, as the city has been
waiting Borne time on this bond issue and
really greatly needs the money.
A trial order of our Cahaba Co«i —,,,
convince you of our qualityand sctvI
Get our prices before you buy.
Wittichen Coal St Transfer Co.
Mala 4U
ANNISTON IN NEED
OF MORE TEACHERS
i
Believed Enrollment Will
Reach 1500 by Friday
CONFERENCE PLANS
• _ _
Alabama Presbyterian College Opens
With Encouraging Prospects.
Anniston to Welcome
Teachers
t
Anniston. September 17.-r—( Special.)
With an attendance of about ffoO at
the four white schools of the city and
an estimated enrollment «*r 400 at the
negro schools, more teachers for the
Anniston public schools are declared
to he imperatively needed bv Superin
tendent I). R. Murphy, who thinks the
enrollment at the schools of the city
will reach at least 1600 by th/j md. of
the week.
The enrollment at present Is not. so
large as It was last year at the same
time, due. It Is believed, to the fact
that m^ny students are going to pri
mary and intermediate departments of
private schools and to a slow rate of
matriculation. However, Air. Murphey
says that the two teachers who were
dropped from the teaching force In
the white schools will have to he re
stored. At present there are 26 white
teachers and rfCven negroes.
The school census shows that there
are 4100 persons in Anniston between
the ages of 7 and 21 years of age, of
which number 2100 are wtJite. As a
rule, abdut 60 per cent of the eligible
white children enter the public schools
and 15*per -cent of the negro < lTlldren.
Preparations are already under way
if Anniston for the meeting ot' the
North Alabama conference of the Meth
odist church, which will be held here
on November 12. Bishop Mi-Coy of Bir
mingham will preside at the conference
which will bring to Anniston 800
Methodist ministers' and 50 laymen.
Plans are> also under foot for the
entertainment of the laymen's mis
sionary interdenominational conference
which will be held here on October
14 and U as a result of the conelu
sion reached at a meeting held at.tlie
First Presbyterian church Monday
evjming. Prominent speakers have been
.secured for this gathering, which will
he notable in local church circl *s.
On September 24-25 delegates from
throughout the Anniston district an J
expected to arrive in the city to at- i
tend the sixteenth annual convention
of the Woman's Missionary union of
the Calhoun association. Alia o. M.
Fieynolds is president of this associa
tion and an extended programme has
been prepared for the* two days of the
convention, which promises to he* well
attended.
Addresses by the Rev. S. E. Hodges,
pastor of the First Presbyterian church
at Anniston: the Rev. I. S. Swallow of
Bessemer. Dr. S. M. Davis, president of
Barber Memorial seminary of this city
and the Rev. W. O. Stephen of Oxford,
together with a short talk by President
T. P. McDougall. were features of the.
| opening of the Alabama Presbyterian col
I lego for men Wednesday morning. This
[ Is the eighth annual session of the school,
and President McDougall states that he
believes it will be the best.
• t
A large reception will be held in the
parlors of the Alabama hotel next Satur
day afternoon for the ne\V teachers in !
the Anniston public schools hv the Par- 1
ents-Teachers* association, which was or
ganized here last year. This was decided !
at the meeting held Tuesday afternoon.
The teachers at the Alabama Presbyterian
college and Noble institute will be invited.
Mrs. James F. Creep of this city has
been appointed a member of the commit
tee on the national liquidation and en
dowment fund committees of the Daugh
ters of the American Revolution by Mrs.
William Cummings Story, national presi
dent.
A contract was closed by the city of
Anniston Tuesday afternoon with the In
ternational Motor company for the pur
chase of a new automobile fire truck. * M.
E. Gilbert, special representative, and Eric
Culberson, local representative of the
company, eel used the deal. They say the
new car will be received in two weeks.
an# the car it replaces will probably be
converted into a “black maria.”
BROAD STREET MAY
BEPAVEBINEUFAUIA
Plan to Improve Street Be
tween Central Depot and
Bluff City Inn
Eufallla, September 17.—(Special.)—A
proposition to pave Broad street from the 1
Central of Georgia depit to the Bluff City
inn is to be taken up liy the city council.
The movement is being fostered by the
Commercial club. The street on both
sides of the parking would be paved.
The Eufapla public schools opened th s
motplng with a greatly increased attend
ance and the overcrowded conditions will
only be relieved when the schools are
trailsferlTd to the old Alabama Brenau
college buildings on College hill.
After eluding their parents at their
home In Florida, and the police and
sheriff of Pike county at Brundldge, io
which they wereetiaced, Miss L. Stevens
and J. A. Simmons arrived here last night
and were married liy Judge J. E. Dozier,
at Georgetown.
Numerous planters who farm on a
large scale in this section are purchasing
oil and gasoline traction engines to do
their work more, quickly and more effi
ciently.
The city and ooqritf schools may he
given a holiday during the Montgomery
State fair week in order that they may
attend the agricultural and industrial ex
position at the capital. »
Miss Bell and Mr. Pritchett of this city
eloped to Georgetown today and were
married by Judge J. E. Dozier.
Odd Fellows at Summerville
Dyerly, (la., September 17.—(Special.)
The seventeenth division, Odd Fellows,
embracing the lodges of Chattooga. Floyd,
Polk, Paulding, Walker and Dade coun
ties, will hold their semi-annual conven
tion in Summerville this week on Thurs
day anil Friday, September is and W. A
very interesting programme has been ar
ranged fo^ the gathering.
Many New Styles in
Women’s Shoes
You’ll find all the new lasts at Porter’s. Every style
that is best approved is here.
Priced $4 to $8
Buckskin—Cravenet[e $5
A shoe that is winning us fame and friends is the
new buckskin, cravenette model. The lowers'are/jf black
buckskin and the uppers of cravenette. T ({Np
Dressy and comfortable.*4j)0
Esco—Standard Silk Hose
New York stores carrying standard silk hose for
women, sell Esco. J
Esco Silk Hose, $1.00, $1.50, $2 and $2.50. v
Esco Silk, with lisle toe, heel, sole and top, 50c.
Esco-Silk Lisle, 50c.
Children’s Esco Silk Hose, 25c, 50c and 65c. Price ac
cording to size.
1922-1924
First Avenue
4
IN THE HEART OF BIRMINGHAM
HELD AT HUNTSVILLE
J. L. Baker Accused of Vio
lating Mann White
Slave Act
Huntsville, September 17.—tSpectal.)—Af
ter serving a sentence of to days as a
member of the city chain gang, John I,.
Baker of Sparta. Tenn., who was convict
ed in the city court on ti charge of
vagrancy, lias been burned over til the
federal authorities and is held on a charge
of violating the Mann white slave act.
During his trial for vagrancy the fact
came to light that Baker gave Madge
Cunningham, a young woman of Man
■ i _
cheater, Term., money to come from Win
chester to Huntsville and live with him
for a time. The man and woman lived
together at various places around Hunts
villa, it is claimed. Baker was given a
prelimiunry trial before Commissioner
Greenleuf of the federal court and bound
over to the next federal grand jury. Ho
was unable to make bond in the sum or
$10tM) and was sent to jail.
David Lewis,( a negro who is wanted
in Cullman county on a charge of mur
der committed on the l^ouis^lle and Nash
ville railroad works, has been captured
here. He was arrested here for highway
robuery.
Many wells in Madison county have
gone dry as a result of the unusually dry
season that has scarcely been Interrupted
In the last two months. A great many
h^eople are hauling water to the country
from the Huntsville spring, which has an
I apparently unfailing supply of pure water
More than half of the country cotton gins
which are operated with steam, obtain
their water from wells and it is a com
mon practice for the engineer to ehuC
down for a few hours until he finds
enough water accumulated In his well to
Justify firing up again. Several days of
hard rains will be required, it is believed,
to restore the usual moisture in tha
ground.
HALEYVILLE ELECTS
A COMMISSIONER
Whit Sparks Wins Easily in What)
Promised to Be Hardly Con
tested Election
Haleyville, September 17.—(Special.*
What at first promised to bo a lively
and hardly contested election passed off
very quietly, resulting in the election of
Whit Sparks without opposition. After
the race had started It developed one of
the candidates and not paid his poll tax.
Though seemingly a walkover for the suc
cessful candidate, it. has in reality beers
a hard fought victory for the forces of
law and order.
Fall Ope: ling
Thursday, September 18th
1913
I" . I
We request the honor ol your presence
at our formal exposition of Autumn and
Winter fashion display, embracing all
th latest novelties of both American and
' European makes .in ready-to-wear, mil
furs, dress goods, trimmings, neck
wear, etc.