The Birmingham age-herald. [volume], August 07, 1914, Page 3, Image 3

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

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

                
At Porter’s-beginning this morning-these
drastic and final price cuts to close out entire summer stocks
LTT Entire slock of men’s suits
grouped at three prices
Ste“p,° $11.00
wk5o“sup “ $16.00
s!!,S":up$21.00
Nothing reserved, Worsteds, Serges, Cheviots,
Crashes and Mohairs
Palm Beach and linen , ,Mcn s straw hats
Including Panamas, Bangkoks and Leghorns at
SUitS Half Price!
$9 and $10 rtr Entire Stock of Knox Soft Hats and
Palm Beaches.Derbies
$12.50 and $13.50 d*0 OfT All $5 Knox Soft Hats d»Q
Linen Suits.and Derbies.tpO. I O
White flannel trousers mldlS*”0* Soft Hats... $2.75
$5 grade HtL All $3.00 Knox Soft Hats (PO l)r
now...«PO. I O and Derbies.
$6 and $7 grade 7^1 Your choice of any $1.50, $2 (Pi AA
now . I O aud $2.50 Silk Hat at.«P±.UU
Mens’ oxfords now af these deep price cuts
Broken lots and dropped styles in nr
“Boydens” that were $6 and $7. Pair ....
All Boyden $6.50, $7.00 All Porter Spc- (j?Q OpT
$7.50 d*r or cial $4 Oxfords
' Oxfords......
All S. & M. $4.50 and $5 All Porter Special $3.50
Ox- a»q 7PT Ox- $9 nr
fords .I O fords .I O
$5 Boys’ AZ $2.50 Bovs’ Ar $2.00 Boys’ (Pi ir
Oxfords .04Oxfords.0L»VO Oxfords .
Manhattan shirts
$1-50 $1 IK
Manliattans. vl'-*-1'
$2.00 (3*1 OO
Manliattans.
^""Manliattans. $1.88
$:i.oo <59 9K
Manliattans. $)£d.£dO
Higher priced grades reduced in pro
portion. K
Entire stock of boys’
Norfork suits {gjM
Blue Serges, Crashes, Worsteds w^Tmi
$5 and $G Suits .$3.65 Hi
$7.50 and $8.50 d*C /?r jT Tl
Suits now .ePeJ.UO
Ai:rs,iita.$6.65 nf
^r:60 s”ta.$8.65 §1
$15 and $18 Suits 0 Wpr
now . vxvtw ._
Boys’ double breasted Wool Suits, for- HALF
merly $5, $7.50, $8.50 grades
Entire stock of Wash Suits; Doinbey, HALF
Oliver rlwist, vestee, .Russian and >71
sailor styles *
Boys' and Children’s Straw Hats Half Priee
Boys’ washable rah rah hats
50c grade .39c $1.00 grade .69c
Women’s low shoes
The entire stock is included
—street, dress and evening
footwear figure in this final
cut.
ah $4- g»9 £r
Styles.
All $5 and $6 0»O
stvles.K.
A"$CWM.$4.65
White Linen Boots, fortnerh $0.50
and $4, C? O Cj;
now.
White Book Boots, fine pearl Hut
tons, were $7, CM
now.
Misses’ & children’s
low shoes
$1.50 CM 1 K
grade. tPA.xt/ Patent, Gunmetal,
$1.75 x CM 4X Dull Calf and
grade. White Linen in
£•> oo -j turned or welt soles
“grade. tPl.OO
$2.50 CM OK
grade.
$3.00 C*9
grade .
All Men’s and Women’s Dust Coats, $5, $7.50 and $10 Grades
HALF PRICE
Entire Stock of Cut Steel and Rhinestone Buckles at
HALF PRICE
Boys’ blouses, sliirts, underwear ana paiamas
o-K, garments ... .19c 50c garments ... .39c 75c garments ... .59c $1.00 garments . .79c $1.50 garments $1.15
Boys’ knee pants
75c grade.55c $1.00 grade .79c $1.30 grade ...$1.15 $2.00 grade ...$1.45 $2.50 grade ... .$1.75
~ r
1922-1924 First Avenue
“In the Heart of
Birmingham”
I _____ _ _ - _ I .. ulina.li t.i In- ill fi.inil .'limit- ! 11.....—11 II,,-., V.. .1...
IMUSMRHASIUNi
Fine Example of Co-opera
te tion Shown by Nation’s
Leading Financiers
PROVISION IS MADE
FOR ANY EMERGENCY
Not Since Time of Civil War Has the
Nation Witnessed Such Co-oper
ation Among Leaders of
All Factions
Hr HOLLAND
New Yolk, August 6.—(Special,)—While
the nations of Europe were mobilizing
men and materials of war, the United
States was making swift preparations for
the mobilizations of resources whereby
Industries could be protected and our
financial standing maintained unimpaired.
Not since the time of the civil war and
witnessed such co-operation between the
government and the banks or such com
plete subordination of political or partisan
feeling as has been the case since it was
found expedient as a matter of precau
tion to dose the stock exchanges of the
country.
There was, in ls98, a fine demonstration
of the willingness of the American people
in time of great emergency to put partis
anship behind them and to co-operate
with the administration at Washington
for protective and defensive measures.
Congress, after a personal statement by
President McKinley to the leaders of the
Senate and the House of what tlie em
barrassment of the government was, just
before the war with (Spain began, voted
an appropriation of $50,000,000 without any
limitations, the whole amount to be ex
pended in the discretion of the President.
That was the largest direct appropriation
containing no other speci|ications than
that it was placed at the disposal of the
chief executive that any civilized nation
has made in modern times.
Co-operation and mobilization such as
have been in progress since the New
York stock exchange closed to prevent
the wholesale dumping of securities upon
the United States has been of two kinds:
First, the appropriate representatives ol
the administration and representative
bankers were brought together with the
speed of the "'telegraph and the railway
trains. There were conferences at Wash
ington and later in New York city. The
first, although not the only, purpose of
these conferences was the utilization as
speedily as possible of the stupendous re
sources which are in the so-called Al
drich-Vreeland emergency currency act.
These resources, if utilized to the limit,
would make available $500,000,000 of cur
I— _ —I
Safe Investments
The charter of this company provides that of each
three hundred shares of stock issued, one hundred
must he common stock. It further provides that the
common stock shall receive no share of the profits
| until dividends on the preferred have been paid in
full. It is, therefore, only necessary for us to earn j
five per cent on our capital in order to pay preferred
dividends. These provisions make our preferred
shares one of the safest investments to be had on this
ki market. Class A preferred shares can be bought for
one hundred dollars each. They yield seven per
; I cent semi-aunuallv, and can
be readily converted without
loss of principal or interest.
Wo arc prepared to dis
count well secured purchase
money notes, to negotiate
loans on real estate, and to
furnish conservative invest
ments in such paper to per
• sons having idle funds.
I. Bonds Bought and Sold
P Company '
' » mini n mni WIHIIU me (THUll cUlU
faith of the I'nited Slates government.
But this is not tlie only quality of
strength that is infused into tills emer
gency currency, whenever It is issued. It
represents Investment, property, re
sources, which are considered as capital
and which in normal times are of un
questioned value. In order to make the
utilization of this emergency currency the
more speedily available, both bankers and
the Secretary of the Treasury, Mr, Mc
Adoo. with the presumed support of Con
gress behind him, were agreed that cer
tain embarrassing features of the act
might be eliminated in tlie discretion of
the Secretary of tlie Treasury.
That would make It possible for the
banks to deposit higli grade security of
recognized value other than government
bonds in exchange for issues of emer
gency currency.
The General Result
The details of these various confer
ences are regarded by those who took
Part in them as confidential. But the gen
eral result is a fine illustration of the
spirit of co-operation ami is so spoken of
ill tliis city. The banks and those who
represented tile administration at Wash
ington wore in perfect accord, although
there was considerable discussion respect
ing some details. But it was not hostile
criticism; it took the form of counsel and
was based upon tlie experience of tlie
bunkers.
The action illustrates the confidence
I lot li of bankers and of the government in
the inherent value of American securities
and of the great resources which these se-I
curities are based upon. When this emer
gi I cy act was under consideration by
Ceng!ess it was commonly thought, both
in Washington and In this city, that no
emergency was tikely to arise wiilrh would
make It necessary to take advantage of
tile aid which ttie emergency currency
gave. It was often said that the morul
Influence of this legislation was sufficient.
For if those engaged in industries and
merchants were certain that In case emer
gency arose the government bHd the
power to furnish $500,000,000 in currency,
then the chances wore that there would
be no emergency; if the business world
knew that abundant funds could at any
time be provided, then there would he
apprehension that funds would be needed.
But the collossai spirit of war, the
Frankenstein-like Jntluence which has
been of a sudden created In Europe, was
not in the minds of those who prepared
the emergency currency, law and. of
course, not In the minds of tile business
world, although some of the leading men
of finance have kepi in the hacks of I hell
heads a suspicion that at any time the
long-predicted struggle upon the con
linent of Europe ml^ht begin.'
Co-operation of Another Kind
While Secretary McAdoo and others—
some of whom are to be members of tlie
federal reserve board—were in consulta
tion with bankers, another plan for co
operation was under earnest discussion.
Some of thy bankers who took part in
tlie council with Secretary McAdoo were
also ill consultation with those who were
contemplating the second co-operative
move. Tills was the expediency of issu
ing clearing house certificates.
In all probability, had tlie new national
banking law been in operation, it would
not have been deemed necessary to con
sider clearing house assistance of this
kind. The clearing house certificates rep
resent locally and in a limited way pre
cisely what tlie emergency currency Is
sued by the government to the banks will
represent. The national currency, how
ever, can he utilized anywhere In tlie
I'nited States. Tile clearing house certi
ficates arc available only in the com
munities in which they are issued. It is
true that in the panic of 1907 in one or two
parts of the country clearing house cer
tificates did get into general circulation.
But tliis was not a general practice, and
the belief has always heen entertained
that it was really In violation of the law
The Now York Clearing House asso
ciation in 1907 would have Issued a *100,
000,000 of certificates had there been a
demand for as large an amount as that.
It dhl issue a little over one-half that
sum. In doing that, the clearing house
P. Lombardo of Huntsville
Writes Back for Natural
ization Papers
Huntsville, August fi.—(Special.)—Peter
Lombardo, a wealthy wholesale dealer
iind broker of this city, a naturalized
son of Italy, is in trouble in his native
land, according to letters received by his
friends here.. He is a naturalized citizen
nf America, but he did not take his papers
with him when he went over to Italy on
a visit this summer, and he is liable to
be drafted into the army for the war that
seems to be imminent. Mr. Lombardo has
written home for his papers and his
friends here are getting busy in his be
half.
The peach crop in this locality this sea
son is the best that has been produced in
several seasons. This was due to the
seasonable rains in July, which saved the
fruit and most of the corn after a long
drouth.
One of the largest rattlesnakes ever
killed on Monte Sano was found and
killed yesterday by Robert Kelly and
John P. Kind, Jr., two school boys of
this city, w'ho are spending the summer
on the mountain. The snake measured
5 feet 8 inches long and carried 19 rat
tles and a button.
A large crowd of Huntsville people went
on an excursion to Estll Springs today.
The excursion was given by the Sunday
schools of the city. «
SEARCY TO BE GIVEN
HEARING AUGUST 14
Preliminary trial of .1. D, Searcy,
charged with embezzling the funds of
Cullman county, will he held by Judge
H. B. Aberneth5%of the court of common
pleas on August 14. Searcy, who was
treasurer of Cullman county. Is alleged
to have embezzled a large sum of money
which was on deposit in a local bank.
A warrant was sworn out by his bonds
men and he was arrested In another slate
and lodged in the county jail and his bond
fixed at $25,000. Two additional warrants
were served on him yesterday by Sheriff
Year wood of Cullman county, Charging
Searcy with further defalcations and In
the event he secures his release on bond
or otherwise he will be held for the Cull
man county authorities.
mobilized the resources of Its member
banks. Millions of commercial paper were
accepted as part of the securities for these
certificates. Various other securities
were accepted upon a reasonable margin.
So that behind these certificates stood
property and values and, as a whole they
probably represented .much of the re
sources of the United States In/which in
vestment has been mad *. Co-operation of
this kind, together with the co-operation
between the government and the banks,
by which possibly as much as $500,000,000
of currency may be* secured would. It Is
believed, provide the country with ade
quate liquid resources whereby Industry
and trade of all kinds could be protected,
as well as our supplies of free gold. And
this resource is wholly based upon the
wealth of the United States, some part
of which is, by co-operation, mobilized. *
DEW CHINA IN
RECEPT|VE MOOD
Chinese Missionary In An
niston Comments On Its
Wonderful Progress
Anniston. August 6.—(Special.)—The
Rev. Joseph Whiteside, for several years
a missionary to China, now a professor in
Soochow University, is the guest of Dr.
j. M. Whiteside, his brother, in this city,
having Just returned on an extended fur
lough.
“China of today is receptive." said Dr.
Whiteside today. “There has been great
progress within the past decade and es
pecially since the recent rebellion and
change in government. The people want
European knowledge and they now wad
come anything that will rescue them from
the shadow of the past.”
Dr. Whiteside came over on the same
steamer with Mr. and Mrs. Norman H.
Pitman, the latter a former resident of
Anniston, being the daughter of Dr. T. W.
Ayers. He says Mr. Pitman is making
quite a success In his literary work in
the flowery kingdom. Mr. and Mrs. Pit
man will spend the summer in California.
TALLAPOOSA LOSES
RANK AS GOLD STAR
Failure of Alexander City District
to Hold Convention Is
Responsible
Jackson’s Gap, August 6.—(Special.)
Sunday schools of all denominations and
from every section of the county have
been in session here for the past two
days in the annual convention of the
Tallapoosa County Sunday School associa
tion. A full two days’ programme, cov
ering the elementary, secondary, adult,
home, teacher training, missions and tem
perance departments, was carried out,
with speakers from several counties par
ticipating. Reports of the year's work
were submitted by the county and dis
trict officers, and plans were made for
bringing the county up to a higher aver
age of efficiency on all the “banner school
standard" points of the Alabama Sunday
School association.
Sunday school work throughout the
WRIGHTSVILLE BEACH
\ r noire 9
13 LFd^ SSTASStsS:
THROUGH SUEE}PKKS VIA
SEABOARD
“THE PROGRESSIVE} HAItWA* OK THE} SOUTH"
ion. except that in the Alexander <ity i
Ilstriet no convention had been held doi
ng the year. This failure caused the
•ounty to lose its rank as a gold star
•ounty in Sunday school work and also
ts standing as a banner county.
tit*lore tlie close of the convention tilt*,
icwly elected officers pledged to bring the
•ounty up to the banner standard linme
liately. and up to the gold star before
he state convention.
For the new year the following officers
were elected: Prof. J. A. Parrish, presi
dent; Dr. W. H. Fulton, secretary-treas
urer; E. A. Coley, vice president; Judge
3. J. Sorrell, chairman executive com
mittee.
The Alabama Sunday School association
was represented by Miss Nannie Baker,
LUxiliary field secretary: Miss Minnie All
good. field secretary; Mrs. 1.. (\ Palmer
[if Montgomery and Leon Palmer, gen
eral seeretarv.
T. C.t Powell, vice president of the
Gueen and Civsrtiif railroad, and M. Mal
loy, < nmptroller of that line, were here
yesterday. As guests of L. Sevier and
10. T. Steele, freight traffic manager of
the Alabama Great Southern, the official*
were entertained at the Tutwiler at lunch
eon, and subsequently shown over tjie city
in automobiles Mr'. Powell l»ad nothin®
to say about business and returned to Cin
cinnati last night.
FOR III. VI
MM.ICMHP LOC ATION FOIt IIO.AItH
INO IIOI SK, KITH AYR.. S.. BETWEEN
UO'I II A N II -1 ST STS., N10 AK RIVE
POINTS) 10 ROOMS) POSSESSION OC
TOIIIOII I. CLARK I NHRRWRITIM*
At>E\CV, liOI-4 CLARK HLIM>. PIIONR
007.
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