The Birmingham age-herald. [volume], November 20, 1914, Page 3, Image 3

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

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

                
AMERICA WILL BE
ABLE ID SUPPLY
Reserve System Will Stop
Much of our Borrowing
From Foreign Nations
RAILROAD NEEDS
ARE VERY HEAVY
Trade Balance in Ainerica'a Favoi
Promises to Set New Record#,
Opening Wide the Gates
of Prosperity
—
r By HOLLAND
New York, November 19,—(Special.)—Ii
the letter to Judge Judson C. Clements o
the Interstate commerce commission, fron
B. T. Yoakum, which was made^publl
a day or two ago. Mr. Yoakum says tha
In order to bring the transportation faclli
ties of the United States, so far as thes
Iare in the hands of the railroad com
panics, to & point adequate for the publl
needs as much as 9750.000,000 mutt be ex
pended each year for several years. Thl
does not Include new construction. Th
sum named by Mr. Yoakum is greate
than the estimate made by James J. Hll
two or three years ago. Mr. Hill wa
quoted as having said that at least 9500.
000,00# a year must be expended by th
American railroads In perfecting facllltle
If these are to be made equal to transput'
tatlon demands.
When Mr. Hill made this estimate h
was apparently of the opinion that th
managers of the railroad companies wouli
be compelled to seek the fresh caplts
needed In European money markets, prin
dpally London, Paris and, to some extent
Holland. But owing to various condition!
some of them political, there seemed t
be small chance of securing needed fund
abroad except, possibly, upon short tim
notes which carried a high rate of In
lereat.
The opening of the federal reserve sy«
tom carries with It a promise of such
change in our own financial situation tha
it may be possible for the railroads to se
cure In the United States, evan as soo:
as the year 1915, such funds as are neede
In that year. Various estimates have bee
made of the aggregate of our foreign trad
within the next 12 months. Some of then
seem exaggerated and yet almost all o
them forecast an international trade bal
ance In favor of the United States of no
less than 91,000,000,000. The balance for th
next 12 months will escape some of th
heavy Invisible Items which in recen
• years have cut down our visible Interna
tlonal balance by anywhere from 9150,000,
000 to 9200,000,000, for it Is now deemed cer
' tain that comparatively few American
will make excursions across the sea nex
. summer. The aggregate of the letters o
. credit which now for several years hav
i annually been sold to American traveler
F was estimated at 9150,000,000. This sur
E has seriously offset tho visible trade bal
" ances. The present indications are tha
1 there will be next year only a sma
amount of letters of credit sold.
We shall probably have to pay less 1
the way of freight charges than any tha
have been exacted from us in recent year
because no small part of our exports wl
be carried in American vessels.
The establishment of the federal reserv
The first European order for projectile
steel to be placed in Pittsburg was
booked by the Jones A Uauglilin Steel
company, which has a contract with
France for 18,000 tons of 3 ^4-Inch bars,
to be used for 3-inch projectiles. The
order should be ready for shipment
within a month.
Gary mills, when operating full, em
ploy 8000 men. They now employ 6000,
averaging seven hours daily and five
days weekly. New business consists
principally of small products like parts
for farm machinery and automobiles
and ore steamers.
Chicago dispatches report orders for
4,000,000 blankets for the allies placed
in that city. The contract, which
* amounts to about $20,000,000, will be
apportioned among the manufacturers
and dealers of the central west. *
Philadelphia manufacturers expect to
receive part of an order for 300,000
pairs of shoes placed by the French
government in Pittsburg. An order for
t 3000 army saddles and 300 sets of ar
, tillery harness is reported to have gone
‘ to. a Waco, Tex., manufacturer.
One of the largest orders so far re
i ceived for munitions of war was placed
‘ with the Fifth-Sterling Steel company
5 of Pittsburg for 20,000 3-inch, 10,000
6-inch and $000 8-lnch shells, and a
; supply of shells of larger caliber. Five
million rounds of small arm amrnunl
* tlon will be* supplied to one of th#bel
* llgerents by the Economy Cartridge
: Fuse company of Pittsburg, within the
1 next three months.
i _
An order for 20 submarine^ is re
s ported to have been placed with the
» Fore River Shipbuilding corporation of
■ Quincy, Mass. The order will amount to
$10,000,000. The vessls, which are said
5 to have been ordered through the Beth
- lehem Steel corporation, are to be
l
1 ....mummnm
. system, if this be supplemented by the
, first of the year by the opening of the
p securities market, will undoubtely greatly
} facilitate our export movement There
must be Inevitably an amount of banking
9 assistance which in the aggregate will be
5 enormous in order to provide the means
- by which these exports can with conven
ience be carried, from the American man*
. ufacturies.
t There are some evidences that the
t American people do not begin to realize
. the magnitude of the foreign purchases
i in this country which are now in the
l course of negotiation and which probably
i will be continued not only as long as the
3 war lasts,' but for several years there
! after. The presumption is strong that
e one American manufacturing industry, one
. of the greatest, has already negotiated, or
l is in the course of negotiation, contracts
5 involving about $100,000,000. The com mod
l lties enumerated in the contract are to be
t used for war material, equipment and the
accessories of a great navy, or perhaps
two navies. This is only one item. Food
products in enormous quantities, sufficient
” completely to absorb, our own surplus, are
t to be sold at high prices to belligerent and
£ neutral nations and the commerce of this
3 kind wjll aggregate hundreds of millions
of dollars. With the opening of the cot
1 ton exchange, the presumption. If not cer
tainty, is that the cotton goods manufac
" tories in England and in France will make
. heavy demands for American cotton, and
thus an additional factor which will make
i for American prosperity will be added.
t What the New System May Do
* The new federal reserve system,
1 which is enthusiastically supported by
the leading bankers of the United
a States, is likely to reveal its influence
IGet Into One of These
Warm Overcoats
—All Ready for Service
—We’ve got the swellest line you ever
saw—all the new materials and colors.
An extra fine showing of Balmacaans.
The prices range from
$20T0 $35
Sweaters Fancy Vests
—The most comfort- —The smartest line
able garment a man we’ve ever shown—a
ever wore—dead swell, wide assortment;
too. priced
$3 T0 $10 $3.00 r
See Our Collar Display in Window
YEATMAN-BAUGH CO.
Brown-Marx Bldg.
Jno. T. Yeatman J. D. Baugh
I Gem Pratt Coal
I For Genuine Furnace
I Economy
1 A Slow Burning, Coking Coal,
I Qives Off Steady, Even Heat
I Produces Low Ash
I Guaranteed to Actually
I Save You 10%
I On Furnace Fuel Expense
I $3.75 Ton—-Call 3700
1.1 GOOD-TON—FULL-TON—RUSH-TON
Birmingham Ice Factory
j | SouthBide—Northgide—West End
» . *
: U
ITEMS FROM EVERYWHERE
SHOW RENEWED ACTIVITY
shipped “knocked down'* and will be
assembled when tlrey are received by
the purchaser.
The Baldwin Locomotive Works has
started work on 20 lomocotives. 200 ma
chine tools and other materials for
Russia.
The Ferracute Machine company at
Bridgeton, N. J., received large orders
for machines for making* cartridge
shells, which will! keep the plant busy
for sometime to come.
The A. Herrliuger company of Cin
cinnati has booked orders for 70,000
halters for use by the British.
Shutting down of German toy fac
tories has resulted in a boom for cer
tain American makers of toys. The Wil
liamson Manufacturing company of
Binghamton, N. Y., is working its plant
24 hours>a day.
The finest order from Europe for cloth
was placed in this market last week by
the French government, which bought
2000 pieces of overcoating material, ag
gregating 100,000 yards.
The manager ^f the Driggs-Seaburv
Ordnance company and tho Bessemer
Motor Truck company announces con
tracts for 470 motor trucks for the
French, British and Russian armies.
The Daily Iron Trade says: Buffalo
pig iron makers have been surprised
agreeably by large tonnages they have
developed at low prices and some talk
of advancing quotations shortly is
heard. SLructual awards in eastern dis
trict are adding to steady increase in
business and outlook is encouraging.
New York city's fall telephone direc
tory came from the presses Monday,
The new city telephone directory con
tains the names of 325.000 subscribers
on 952 pages. It will have a circulation
of 606,000 copies. These figures show h
gain over the 1913 fall issue of 20.00C
names, 64 pages and 41,000 copies.
within the course of the next two oi
three months. Sometime in the wlntei
or early spring there will undoubtedly
be disclosed as great an influence foi
good as any of the others which ar<
embodied In this federal system. Th«
new system is likely to make a demon
stration of the fact that it is enabling
banks of the United States to get the
reserves under such complete contra
as will insure easy mobilization, ant
there will be also great concentratior
of banking resources. An early resuli
of this will be the beginning of s
diminished demand for capital fron
Other countries than our own, and as c
consequence of this it is also likely tc
be demonstrated within a year that w«
are at last able to lend money in largt
amounts to other nations. It is some
times said that a change of this kinc
will make the United States a grea
creditor nation. That depends upon tin
sense In which the term1 is used. Eng
land, for instance, imports commodttiei
of a money value many million time:
greater thaiS the money value of her ex
ports, and yet she is recognized as tin
great creditor nation of the world. Thl:
is so because she not only imports com
modttles in large amounts, but she als<
imports enormous amounts of capita
which represents the Income upon he
Investments in other lands.
The United States may in the yea
1915 secure a visible or apparent inter
national trade balance aggregatinj
$1,000,000,000 and still remain a debto
nation. But if the new banking lav
stimulates, as it is expected to do. t
concentration of banking reserves an<
a complete command of gold then w<
shall accumulate capital so rapidly a:
, to stable us to lend portions of It t<
other countries. None of the leadini
bankers of the financial district doubt:
that when the war is ended proposition)
will be made to the United States by
other countries looking to the placing
of heavy loans here.
One factor which will facilitate tin
beneficial influences of the federal re
serve system is our possession of ai
enormous supply of gold. This can b<
concentrated and controlled if the fed
eral reserve system is operated witl
wisdom so that we shall have abundan
supplies of capital or abundant re
sources in the form of credit witl
which not only the needs of our rail
roads can be met and funds which an
to be used In the development of ou
natural resources supplied, but we shal
also have money which can be utilize'
to meet the needs of South America am
the far east.
Investments of this kind will after i
while causer large imports not reporter
in the custom house statistics to coni'
to the United States, for they will b
In the form of Income, representim
dividends or interest upon our invest
ments in other lands. When this klm
of imports become sufficiently large
we shall be a creditor nation. Further
more, the wise administration of th
federal reserve system and sympathetl
management of the stock exchange, to
getlier with long contlhued and heav
exports, should enable the Unite
States easily to absorb in due time, 1
there be need of it, all of the America
securities now held for lnvestmen
abroad.
EUFAULA
Eufaula, November 1*.—(Special.)—Th
board of revenue at a^neetlng today at
ceptcd the proposition of Barbour count
citizens living at Blue Springs to assli
in the construction of a flrst-ctass roa
from that point to Clopton, In Henr
county. They have subscribed $600 fo
this purpose, and the board ordere
teams to be put on this work at once. -
committee of the board will confer short
ly with Engineer Fitch of the state high
way department regarding the use of th
$3000 state-aid road and bridge fund. 1
Is thought that this sum will be combine
with a similar one by the county in th
construction of another steel and con
crete trloge, a number of which are need
ed lib the county, especially on the Eu
faula-Clayton highway, where It crosse
the Barbour creek. On account of an ad
dltlonal levy, the board will have mor
money this year for the construction o
roads than ever before. Will Bell wa
re-elected road overseer, and Will Co:
keeper of the almshouse.
County Farm Demonstrator W. E
Moulthrop, who was recently appolnte
to succeed E. Dingo of Clayton, will re
celve $20( from Barbour county as a sur
plement to the salary paid him by th
state end federal government, under th
action of the board of revenue today.
Summons to jurors and witnesses ar
now being sent out by tho sheriff's ol
Ac* for the fall tirm of tho Barbou
county .circuit court, which will begl
here November $6. A number of lmportan
cases Wa expected to be called by th
grand jury.
To Permit Code Messages
Bordeaux, via Paris, November 1*.—(S:S
p. m.)—The minister of commerce, to f«
cl 11 tat* telegraphic correspondence bi
tween France and the United States an
the French colonies, will permit message
made up from five of the cod# books 1
general use. The new rule goes Into el
(set tomorrow. Such code telegram:
however, must be accompanied by a tram
latte either la French or English.
Fighting Will Never Cease
Until Land Is Redis
tributed, He Says
Chicago, November 19.—Fighting in
Mexico never will cease until the land
has been redistributed and workers can
own their homes, In the opinion of
John Lind, President Wilson's personal
representative in the southern republic
during Huerta’s admlnistfation. Ad
dressing the Industrial club here to
day, Mr. Lind sketched the develop
ment of the landlord system under the
Spanish conquerors, and then declared:
"As a whble the nation was made
homeless and has so continued to this
day. This is and will be the cause of
revolutions in Mexico until the question
is settled. The state of Moroios, for ex
ample, is owned by 27 men."
Nominal freedom, Mr. Lind said, was
accorded the peons but they are poorly
paid and practically' compelled to re
main in the service of the great land
owners. Laws forbidding employes to
leave the landlords’ service while in
debt have aided In keeping the workers
in subjection.
Careful stuy of Mexicans, the speak
er continued, convinced him that the
differences between them and citizens
of the United States ewre not racial nor
psychological. The turbulence of the
Mexicans, he said, could be attributed
to years of oppression
"The hard experience of the Mexican
has made him wary and suspicious,"
said Mr. Lind. "It has been difficult
for the Mexican people to believe our
President did not have some ulteripr
motive in his profered good officers. I
think, however, that they now are
about convinced, and when once con
vinced, more loyal /riends are not to
be found."
The speaker closed with a plea "for
a warmer and kindlier interest in these,
our neighbors."
"They bear us no ill will," he de
clared. "They need our good will. We
need theirs. We must be friends in
peace and allies In trouble. The people
of Mexico dwell in a rich and beautiful
land. I feel that they are a people of
great promise. They have suffered vicis
situdes which we have escaped. I believe
that they are emerging into light of a
new and better day."
CRUISER GLASGOW
WILL BE REPAIRED
IUo Janeiro, November 19/—The Brit
ish cruiser Glasgow, damaged in the
naval battle off the Chilean coast No
vember 1, has obtained permission from
| the Brazilian government to enter dry
1 i dock and receive urgent repairs. Thi
work must be completed within seven
» days, at the expiration of which the
i vessel must leave pot",.
The Glasgow' arrived here Tuesday.
| She has five holes In her hull made by
. shells. Four of her sailors were wound
ed in the battle.
Officers of the Glasgow today gave
■ additional details of the battle in which
f a German squadron sunk the British
• cruisers Good Hope and Monmouth. At
r the beginning oi? the battle it was
l said the Good Hope, Rear Admiral
[ Cradock's flagship, considering the
< higher power of the German guns, or
s dered the Glasgow and the transport
> Otranto to seek refuge. Notwithstand
ing this order, the Glasgow answered
\ the German fire.
In the first minuf.es of the fight,
■ officers of the Glasgow say, the Good
Hope had one of her 9.2-lnch guns
dismantled and then her gunpowder
stores exploded.
ELLIOTTRE-ELECTED
NEW HAVEN HEAD
New York. November 19.—-Howard Elliot
was re-elected president of the New York,
New Haven and Hartford Railroad com
pany at a directors’ meeting here today.
A. S. May was re-elected treasurer; A.
1 E. Clark, secretary, and the following as
| members of the executive committee:
Howard Elliot, Arthur Hadley, T. De
L witt Cuyler, W. Murray Crane, James L.
. RJchards, Edward Milligan, Henry C*
j MeHarg, John T. Pratt andf Frank W.
' Matteson.
Suggested to thwart
the dropping mercury
Underwear Overcoats Footwear
WEIGHTIER materials TjORTKR overcoats are more than £*HOB for dress? For business?
in correctly stvled mere Protectlon—they're splen- ^ For sports? This "live wire"
splendidly tailored union or did exam”les of what 4he domb,"a- shoe 8tore is tbe ]o^1 ,plaro “
, « tion of stunning fabrics and master spend your money—that is, if
wo piece gannen S roni worknianship can accomplish. you’re looking: for most for your
America s ioreniost under- money. '
wear authorities. t»almacaans m -heathery”
FINE cotton rib, wool and cotton. Scotch fabrics, French models wjORTBR footwear in tan Russia,
all wool, balbriggan, lisle, with belted, snug fitting bade, X patent, gunmetal and vicl, in
Kneipp linen mesh—in union or chesterfields of Oxford or black the models you favor, at
two-piece garments. with or wlthout glik ilning double
^ faced cheviots In ulsters or dress J 1 p*
$1 to $5 models; whatever your coat pref- ^
, erence may be—It’s here at *18 to '
*50. Specially good values at
jl _ ^ . _ ^jEJVKN styles in "Boydens’’ that
_ • . S 2 5 $3 0 ^ are s,*<'Bby’ due t,pavy
Cashmere . selling, at a lowered price to effect
T y • _ a complete clearance. Russia, vlci,
nosiery • g' gunmetal and patent. Your size
SOFT, "warmth-without-welght." ±JUyS> among the lot-that were *6.50 and
cashmere hose with high Ti if" 1. * *7—now
spliced heel and reinforced toe and jyjL CLC fclTTCllJUS
sole. |
25c and 50c *5 and $6
pajr $7.50 “
Everything Men and Boys Wear
1922-1924 In the Heart of
First Ave. Birmingham
MOVIES TO SHOW
WAR TO POSTERITY
New York, November 19.—Future
generations will be able to nee mo
tion pictures of incidents of the pres
ent war and view specimens of guns,
uniforms and other equipment actually
used in battle at a great war museum
to be erected here by the Modern His
toric Records association, of which
William H. Taft is honorary presi
dent.
The association announced today it
already was in possession of many
war films, which, when complete and
In chonological order, will form a pan
oramic history of the struggle. In ad
dition to all manner of relics of the
battlefield the association ulso will
pieserve on parchment imperishable
copies of all the Important official doc
uments of the war and of eyewitness
reports of engagements.
BAY MINETTE
Bay Minette. November 19.—(Special.)
Mrs. Mattie Hand and W. S. Crockett
were quietly married Tuesday night at
9 o'clock at the home of Airs. Hand or
Second street by the Rev. W. F. Harris,
Presbyterian minister of this place. Only
a few of the very closest friends and rel
ctlves of the couple were present and
none but those present knew of the event.
Mr. Crocktt came here recently from
Nevada and has been managing the Pro
gressive Printing company's business
since his arrival.
A double wedding took place at the
Methodist church here yesterday when
the Rev. L. H. 8. Chappelle, the pastor
of that church, united Miss Rena Floyd
Byrne Rnd Mr. Arnold B. Cooper and
Aflss Minolta Rebecca Jones and Air. Ly
man Nellums. The ceremony took plaoe
at 1 o'clock. The two couples left Im
mediately for Aluscogee, Fla., where they
will make their future home.
The 23 men and two officers of tht
local company of the Alabama National
fluanl returned from their rifle praotlot
in Montgomery last night, after having
been ’here for five days. Lieutenant Hall
and three other members of the company
made sharpshooters' rank In the five-days
trial.
NEW POWDER STOPS
FLOW OF BLOOD
Geneva. November 19.—(Via Paris,
6:16 p. m.)—A preparation which, it Ik
claimed, will «top almost instantly the
flow of blood from a 'Round, has been
Invented by Prof. Teh odor ICooher of
Berne, winner of the Nobel prize for
surgery In 1912, and his assistant. Dr.
A. Fonce. The new preparation, called
coagulen, is a powdor, and is dissolved
In water before being applied to u
wound.
The discoverers have made a gift of
their invention to the armies in ths
field and have sent large quantities of
the powder to French end German sur
gical headquarters. Medical men hero
declare the lives of thousand** of sol
diers probably will be saved by It. Ii
con be applied by untrained hands. It
is said, or by the wounded man him
self.
CULLMAN
Cullman. November 19.—(Special.)—The
Alabama Methodist Episcopal conference
will meet here December 17 for four days.
The Symphony club met with Mrs. J. B.
Brcwn Thursday. The next mooting will
be with Mrs. Harry Parker.
The dwelling house of Mrs. Worth
caught fire in the roof recently put on.
This is the second time this building has
caught fire in the*past month. It is owned
by F. Buchman.
The Rev. Stansell of Cullman Metho
dist Episcopal church was transferred to
Mt. Vernon church of Birmingham. The
Rev. Marvin R. Heflin takes his place
here.
1>. H. Mallory accidently shot hipiself
at his home neat Cullman Wednesday. He
leaves a wife and several children.
The city school has Just closed its .second
month’s work with an enrollment of 500
pup.lt and an average daily attendance
of 35C.
A new lodge has been organized here. It
is a benevolent and fraternal society
called the Knights and Ladies of Se
cut Jty, with 20 members. Mrs. L. A.
Slosser is organized.
GREENVILLE
Greenville, November 19.—(Special.)—A
committee from the Greenville Harmony
club and also ono from the Knights of
Pythias of Honor lodge. No. 21. are work
ing for a local talent minstrel show that
will be given during the last part of this
month.
Mia. Sarah A. Terrell died at her home
here on Thursday. She was about 79
years of age at the time of her death.
Sho In survived by one son, W. C. Terrell,
of Greenville, and two daughters, Mrs.
M. M. Cook of Greenville and Mrs. G.
W. Hule of MclJavid, Fla.
A postal inspector was in Greenville
this week for tho purpose of Inspecting
the streets and sidewalks of the city
with the view of Inaugurating free city
delivery. He and Postmaster H. 13. Bur
nett made a trip over the city, so that
the inspector could make a map of the
city. The map was made and forwarded to
Washington. It is thought that it will
be only a short while before GreenvilHf
will have free delivery.
Greenville Federation of Women’s Clubs
la represented in Montgomery at the state
federation by Mi*s. O. H. Tatum, second
vice president of the state federation;
Mrs. W, C. Coker, dlrectoir of the Green
ville Music Study club; Mrs. F. T. Iler
long, director of the Woman’s club; Miss
Florence Haygood, president, and Mrs.
J. K Barnes, director of the Harmony
club, and Miss Annie Ijaurie Beeland, di
rector of the Progressive club.
Dreadnaught Completes Test
Boston, November 19,—The Argentine
dreadnaught Moreno has completed suc
cessfully every required test of speed, ac
cording to a radiogram today from Capt.
Joseph I. Kemp, her navigator. The Mo
reno now Is on the way to the yards of
her builders, the NeW York Shipbuilding
company, at Camden, N. J.
FOR
Quick Deliveries
1 MONTE V ALL O CO A I. >
PHONK MAIN 4(iU
“r he Kitchenless Home”
has not’arrived as yet, but* the»cookless kitchen, with-comfort
■; and contentment, is possible in every ‘ homew where the house
wifc.knows
Shredded Wheat
With the^ crisp “little loaves” of ready-cooked, ^ready-to-serve i
cerearin theAhome you; are .ready for the ^unexpected guest,
! for the * uncertaintiesv of domes tic'^service. No kitchen worry
j ~ oi drudgery. We^do^the" cooking for you'in^our^two-million- .
dollar sunlit ^bakery. Make!ouri kitchen your kitchen. Ask
; your grocer. _ _ #
Always heat the BiscuU in oven tiTreatore crispness; then pour over it
milk or cream, adding salt or au^ar to suit the taste. Deliciously nour
ishing Cor any meal in combination with baked apples, sliced bananas,
canned peaches, pears or any fruit. Try toasted Triacuit, the Shredded
\ Wheat Wafer, for luncheon with butter, cheese or marmalades.
I |
1 ,
' Made only by The Shredded Wheat Company, Niadkra Fall*. N. Y.
•