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Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, October 27, 1907, Image 1

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M 11 IIKIt 25
New York Banks Weather the Week's
Storm — Importation of Gold
from Europe Is An.
B/ Associated Preen.
NEW. YORK. Oct. 26.— 1n response to a
r«yuest as to his views of the present
situation, J. P. Morgan Eald today:
"As I have already said, I cannot too
(Strongly emphasize the importance of
people realizing that the greatest injury
that can be done in the present situation
is the thoughtless withdrawal of funds
from banks and trust companies, and
then, hoarding the cash In safe deposit
vaults or elsewhere, thus withdrawing
the supply of capital always needed in
»uch emergencies: as that which has been
confronted during the past week."
James Stillman, president of the Na
tional City bank, who next to Mr. Mor
gan has done more to bring about a solu
tion of the financial difficulties in New
York than fcny other man, said: "The
wise and heroic action of the secretary
of the treasury and the splendid efforts
of Air. Morgan, with the assistance of
the clearing house, have demonstrated
the sound financial condition of the clear
ing house of this city.
"Now, however, in order to tacllitate
the shipments of cotton, grain, tobacco
pnd other products, and to facilitate the
Sports of gold, the associated banks
have wisely decided to combine their
credit by the Issuance of clearing house
certificates, and thus prevent the paralyz
lr.g of a very large part of the business
of the country."
Calmness and growing encouragement
were the dominant features of the flnan
- cial situation when the great banking in
trltutlons closed their week today, with
Ril the great financial institutions of the
city intact, after having met their un
precedented demands of the past week.
With this signal demonstration of the re
sisting powers of the banks came the
aceptlon of new ard important measures
tc prevent a recurrence of the acute
I , No Suspensions During Day
Although the stock exchange and other
• tensitive points were free . from trouble,
¦'¦'.' toveral banks and trust companies euf
•^*r)-ed withdrawal of funds, these wlth-
B wals being for . the most part by
Killer depositors.' All -Institutions af
'¦^fJSkcd continued to pay on demand up
'¦,¦¦¦ noon, the usual hour of' closing on
' -JuiJrstVf 'mportanee ,in - the remedial
misfires was the clearing house. vot
ing to Issue loan; certificates«or the use
; of the banks themselves in settling their
daily balances at the clearing house The
certificates will not get into general cir
culation, but their use wll enable the
banks to keep in circulation, tor the
needs of general business, large amounts
"l currency' which otherwise would be
quired for the settlement of the dally
S\ clear house balances. . .. _.' . •
Plans were formulated to extend the
: benefit of .' clearing • house certificates to
il-o trust companies, as well as to the
, banks which are at present members of
¦.the clearing house association.
Another extremely important feature of
todays news was. the announcement by
; the Notional City bank that it has en
r gaged $5,000,000 in gold for Import. .It is
believed by the bankers and brokers that
this engagement is the beginning of what
7 w'll probably be a continuous movement
of gold to New York from abroad. The
erlHting market is very favorable for the
¦ Importation of gold,.and it Is believed
- :no difficulty will be met with In secur
" . Ing tin- metal from Europe so far as may
b- needed. ... .
' The clearing house certificates will be
1-sue.c 1 to those , banks making applica
tion and proving ,to the. satisfaction of
¦ tho committee appointed for the Purpose
1 tie need for the certificates and their
ability to deposit; the proper collateral.
-.i. No limit was fixed to the amount to be
issued hut it is hoped the amount asked
' for will 1 be small. _'¦¦.'
'" May Admit Trust Companies
Another step : was taken also of first
- lnpcrtance. designed to offset the unfa
. vorable effect which might be produced
".by the fact that the clearing house banks
were in a, position to obtain certificates
.':; wijlle the trust companies were loft out
'of the arrangement. !>'• ¦ •. ¦ • '¦ ¦"
The fear that the trust companies would
'be .unfavorably affected by such ' a de
. rision was one of the influences which led
i several members of the clearing house
committee to oppose the Issuance of cer
tificates. - The step taken to offset this
{larger was the presentation of a resolu
tion by the. clearing house committee to
• numbers of the association. to the effect
that the trust companies should be ad
; lrittei to the clearing house. It was pro
.'-i vided that this resolution might be.con
• " slderec at a meeting of the association to
bo held hereafter.' : .
¦ Thus? far there have been no application
"• "¦ by" the trust companies for admission to
the clearing house and the exact condi
tion 'on which they : might, be admitted
- ha* i not been fixed. )¦: The , requirements
. made from banks admltteo. to the clear
ing house is that they shall keep In.their
, own vaults a reserve of 25 per cent ¦of
their deposits. This Is a larger reserve
. than most of the trust companies have
: carried . since - the requirements of > the
B law or 1906 did not go beyond 10 per
cent' In. cash on hand or on deposit In
¦ other banks..' '¦ •¦.'¦¦ ¦.¦'•¦
' " While i the action taken - today, •Is not
I immediately effective, so far as it relates
to trust I companies. it shows a willing
: ¦ ness of the T clearing house banks to co
"operate with the trust companies, which
I gi t-atly relieves the situation and removes
the danger which some have feared that
v each individual trust company would be
V. left ito > shift • for Itself, while , the asso
¦ ciated .banks. in the clearing.house stood
¦ Jlnnly .'. together. '" \." L
It is '. felt by conservative bankers that
. ';¦ under present conditions .: it will not : be
',>,'. prudent '. to | pursue a narrow ; policy, :. and
If it is i necessary to bring the Important
t;;itrust companies into full ' fellowship with
. the 'cWrinsr! house it will done. ;-.'
. •-: The ; wearing • house; certificates ¦ author
•; ised today will be Issued In substantially
as the' same ¦ form " as ; those ' authorized i from
; 1860 down 4to 1593. When a bank satisfies
'5.S '
(Continued on i'mre Tno.k . ¦ '.',
Los Angeles Herald.
Noted Financier
Portland Man, Said to Have Lived a
Year by Fraud, Trapped by
Mulcted but Suspicious
C. R. Howes, said by the police to be
one of the shrewdest and most daring
forgers who have ever operated in Los
Angeles, was arrested by Detectives Hb
eick and Craig yesterday afternoon three
hours after his arrival In this city and
soon after he had succeeded In passing
his fourth fictitious check.
Howes Is a candy maker and for years
lived in Portland and followed that work.
About a year ago he gave up his position,
according to statements Capt. Flammer
declares he has made, Intending to make
a living by forging checks.
Ho was successful from the first, main
taining at all times a cool front, and al
lowing nothing suspicious to enter Into
any transactions.
About two months ago Howes visited
San Francisco. There he cashed several
fictitious checks, expending the proceeds
gambling. A few days ago he learned the
police of the northern city suspected him
and came to Los Angeles.
"I cashed a few fictitious checks," he
Is said to have told detectives, "and
started for Los Angeles. When I reached
here I found myself without funds and
started out to rake up some money.
"I had a number of worthless checks
In my pocket and these I filled out, mak
ing them payable to S. S. Silverson and
signing them with the name of H. C. Mc-
Clrod, Jr., of Portland.
"I went to the store owned by R. E.
Mclntosh at 447 South Spring street and
ordered a $25 suit. In payment for it I
gave the clerk a check for $40, which he
took without question and handed mo
$15 change.
"I went to Kahn & Co.'s store, 467 South
Broadway, where I purchased another
$25 suit and gave a check on the Na
tional Bank of California for $40 in pay
ment. They gave me back $15 and I took
the suit and left.
"I then cashed several small checks on
different stores, and later went to J. A.
Jepson & Co., 537 South Spring street,
where I had another check cashed, while
a few minutes later W. Hunter of Hunter
& Co., 541 South Broadway, cashed an
other for $40 for me."
Howes was arrested a short distance
from Hunter's. The young man had been
asked by Mr. Hunter for his street ad
dress and had given 625 South Grand
avenue. After ho had left the store Mr.
Hunter sent a clerk out to that number
and learned that no one of that name
or description given roomed there.
Upon the clerk's return the police were
notified and the detectives started on
the case.
They recognized Howse from the de
scription which had been 'given of him.
When accosted the young man did not
try to conceal hia identity, but seemed to
take his arrest as a matter of course.
When searched at tho station he was
found to have twenty-six blank checks
in his pockets and several signed by H.
C. McClead.
Train in London Subway Crashes Into
Another — Accident Due to
Fog, Which Obscured
r.y Associated Press.
LONDON, Odi. 2G.— Three persons were
kilted and a dozen injured this morning
lii a rear-end collision at the West Hemp
stead station of the Metropolitan under
ground railroad. The rear train, It ap
pears, ran past the signals In a fog and
clashed Into a train standing at the sta
This Is the first accident ot the kind
since a system of electric signalling was
installed, which, It was claimed, would
absolutely preclude the possibility of
such a catastrophe. It is also said to be
the first accident resulting In the death
of a passenger, although billions of per
sons have been carried since the opening
of the road.
Secretary of War Inspects New Rail.
way Line In the Philippines
and Figures in Acci
By Associated Pre»«.
MANILA, Oct. .6.— Secretary Taft made
an inspection of the partly completed
extension of the Manila-Dagupan railway
Friday. He rode twenty-five miles on the
first passenger train over the line and
incidentully was a participant in the
first accident on the road.
Near the terminus a flat car In front of
Mr. Taft's car was derailed and nearly
took his car with It. The Taft car ran
completely on top of the flat car.
Secretary of State Says There Is
Nothing Improper In Sending
the Fleet to Pacific
By Associated Press.
WASHINGTON, Oct. 26.— Secretary
Metcalf today announced that It has
been definitely settled that the Atlantic
fleet will leave Hampton Roads on De
cember 16 for its cruise to the Pacific
This announcement followed a con
ference held at the White House, to
which tha president summoned Secre
tary Metcalf, Rear Admiral Evans, who
will command the fleet on its cruise to
the Pacific, and Rear Admiral Brown
son, chief of the bureau of navigation
of the navy department.
The conference was called to con
tinue more In detail the cabinet meet-
Ing discussion of naval affairs yester
day. The discussion related particu
larly to details of the Atlantic fleet's
cruise to the Pacific. It Is understood
that matters were in such shape that
he president was thoroughly informed
on all Important items of the itinerary.
Evans in Good Health
Admiral Evans, who has been con
fined to his apartments on account of
an indisposition, looked and declared
himself to be much Improved in health.
The bureau of Insular affairs today
received a cablegram from Governor
General Smith of the Philippines ask
ing that the Atlantic fleet be permitted
to visit Manila during the week begin
ning February 10 in order to attend the
pre-Lenten festivities. The fact that
the fleet will not have arrived in Pa
cific waters by that time precludes this.
, Secretary Metcalf stated that the
queßtion of allowing newspaper corres
pondents to accompany the fleet waß
discussed and the conclusion reached
not to allow newspaper men aboard,
but officers of the fleet would be desig
nated to send such news as might be
thought desirable to make public.
Defend't President's Action
"No such relation exists between
America and Japan as would make It
improper to send the American fleet in
to the Pacific, If there were, the rela
tions between America and Great Brit
ain nnd tho relations between America
and France, which are the same, would
forbid the maintenance of the battle
ship fleet In the Atlantic ocean."
This was the reply returned by Sec
retary Root to the direct question as to
whether Japan had entered any protest
against the dispatch of Admiral Evans'
fleet to the Pacific next December.
The statement was made at the con
clusion of a long conference between
Secretary Root and Ambassador Aokl
of Japan at the state department today.
Cabinet Official Asks Boards of Trade
to Send Representatives to
Meeting in Wash,
By Associated Press.
WASHINGTON, Oct. 26. —With a view
to rendering practical aid to the commer
cial and Industrial Interests of the
United States and to the promoting of
the foreign commerce of this country.
Secretary Straus of the department of
commerce and labor has caused to be
prepared a pamphlet by N. I. Stone, the
tarifl. expert of the bureau of manufac
The pamphlet contains a study of the
commercial union and conditions, to
gether with a statement of the results al
ready achieved by the department of
commerce and labor In promoting Amer
ica's foreign trade. It urges that con
gress be brought to a realization of the
muiTiltude and the Importance of this
task and give It support with funds com
mensurate with the work to be done.
With a view of developing the most
practical plan for rendering the depart
ment of great service to the commercial
Interest? of the country and at the same
time to enable the department to enlist
the co-operation of such Interests, Secre
tary Strauss has Invited the chamber of
commerce and boards of trade of twenty
of the leading cities of the country to
appoint committees to meet here Decem
ber B to consider with him ways and
means of accomplishing these objects.
Believes New Mexico and Arizona
Should Not Be United— Thinks
Action Wil Be De.
By Associated Prem.
WASHINGTON, Oct. 26. — President
Roorcvelt announced through Senator
Flint of California today that he will
use his influence for separate statehood
for Arizona and New Mexico.
Tre president, however, expresses the
opinion that nothing in that direction
run be accomplished at the next session
of congress.
Miners Refuse to Call Strike
GOLDFIELD, Nev., Oct. 26.— The local
union of the Western Federation of Miners
has decided to take no action on the
proposition to call a sympathetic strike on
account of the walkout of the laborers
employed by the Nevada-California Min
ing company at Blshoo. Cal.
Hole Twenty Feet Deep Dug by Ter
rific Flow from Big Pipe
on Sunset Boule.
The breaking of a two-foot water main
on Sunset boulevard opposite the power
station, near West Olive street, last night
resulted in the washing away of one
street car track and the delay of the
Hollywood and Colegrove service for
hours. The tremendous pressure of tho
water tore away almost the entire sur
face of the street for a quarter of a block
and dug a hole twenty-five feet wide,
fifty feet long and twenty feet deep.
All night a gang of men worked to re
pair the damage and put the tracks in
condition to handle the car service to
The cause of the accident is not known,
but shortly after 7 o'clock, with a roar
and a shaking of the surrounding ground,
the water, with terrific force, gushed out.
The stream was unchecked for an hour,
when the employes of the water com
pany finally were able to shut It off. By
then the north track of the Los Angeles-
Paclflc had been destroyed, and had the
flow continued a few minutes longer the
south rails would have gone.
Hundreds of passengers were delayed
for hours. By transferring to the south
tracks at the affected point the service
was continued, though no attempt could
be made to meet the schedules.
For Los Angeles and vicinity:
Cloudy, with showers Sunday; light
southwest wind. Maximum temper,
ature yesterday, 65 degrees; mini./
mum, 58 degrees,
Broken water main washes away track
on Sunset boulevard, delaying Hollywood
and Colegrove traffic. ¦___*«_
People are aroused, declares Senator
Belshaw to City c(ub, and good govern
ment should follow. -
Co-operation marks first "cleanup Sat
urday of sanitation crusade.
Mrs James P. Burns, injured in apart
ment house fire, succumbs. Maid's con
dition critical.
Financial situation In the east is clear
ing. Calmness all that is necessary to
prevent any further flurries.
Date is set by naval department for
the departure of battleship fleet to Pacific
waters. Secretary Root says there is no
cause for protest by Japan.
William J. Bryan says President Roose
velt is not to Dlame for conditions that
have clouded country's financial horizon.
President Roosevelt Issues Thanksgiv
ing day proclamation, naming the last
Thursday In November as the day to be
generally observed.
Several Italians are drowned when a
train overturns in Maine.
Chicago cleaning house, In order to
protect banks, adopts certificate system.
English police foil plan to assassinate
King Edward. Suspect is arrested and
confesses. I
Russian municipality extends aid to
Westinghouse concern, which holds con
tract in St. Petersburg.
Armed bandit holds up a drug store In
Sacramento, fires at clerk and robs cash
Senator Nixon of Nevada announces
that the Consolidated Mines company
will pay' another big dividend soon.
Too Busy
Courtship Is Extended Over a Long
Period, Owing to Faithfulness
of Each to Invalid
By Associated Press.
NEW XORK, Oct. 20.— There is to be a
wedding In St. Patrick's church at Rich
mond, Staten island, soon, which wll'
bring to a happy close a patient wooing.
John Seaver, the prospective bridegroom,
and Margaret V. Pfaff, the prospective
bride, have had a courtship lasting
twenty-one years because of the faithful
ness of each to an Invalid father.
Seaver is about 45 years old and Miss
I 'faff is In the thirties. Seaver's father
died about five months ago, aged 86, and
Miss Pfaff's father died a few weeks
ago aged 75.
Italian All but Convicted of Slaying
Another Declared Not Guilty
• After Size of Ball Is
By Associated Press.
CHICAGO, Oct. 26.— A casual remark
of a witness In Judge Chetlaln's court
yesterday saved a man of conviction on
circumstantial evidence. Indeed, the state
had presented such seemingly conclusive
proof that Angelo Serpico had killed Sal
vatore Serpico that conviction and a
death penalty were almost certainly ex
pected. This strong structure of proof
built up by the state collapsed like a
bubble whon the case was about to go
to the jury.
A casual question asked of Dr. Warren
Hunter, coroner's physician, on cross ex
amination developed that Salvatore Ser
pico was killed by a bullet from a 32
callber revolver. The defendant's re
volver was 38-caliber.
Prior to that important testimony As
sistant State's Attorney Fleming had
presented a chain of evidence apparently
complete. Against this array of evidence
the defendant was able to present only
a feeble defense. He took the stand
and denied the shooting. He admitted
having drawn a revolver, but was unable
to explain the exploded cartridges. On
cross examination by Mr. Fleming when
asked to account for Salvatore Serplco's
death he said: I
"Louis did it." He could not tell who
Louis was except that he was an Italian
who had been present In the saloon and
who had since fled.
Dr. Hunter was the last witness called.
He gave his opinion that death was due
to shock and hemorrhage caused by tne
bullet wound.
"By the way. Dr. Hunter," Attorney
Manlon for the defense asked, "have you
the bullet that you found In the body?"
"Certainly," Dr. Hunter replied, and
he handed the bullet to the lawyer.
"Why, this is a 32-callber bullet!" At
torney Hanlon exclaimed.
The bullet was then placed in the
revolver owned by the defendant and It
rattled in its empty cartridge. After a
short deliberation the Jury returned a
verdict of not guilty.
Collins' Petition Denied
By Associated Preu.
SAN FRANCISCO, Oct. 26.— Judge La,w
lor today denied the motion of Attorney
George D. Collins, who is under sentence
of fourteen years for perjury, to dismiss
the proceedings against him. In regard
to the settlement of Collins' bill of ex
ceptions on his appeal to the supreme
court a continuance of two weeks was
Thief Deliberately Fires Twice, but
Misses — Steals Money from
Till and Rides
By Associated Press.
SACRAMENTO, Oct. 28.-A lone high
wayman rode up to the drug store of F.
J. Qulrln at Twentieth and J streets at
10 o'clock tonight, held up the clerk, fired
two shots at him, robbed the till and
rode away, bareback, on his horse, going
south on Twentieth street to M, where
he fired a shot into the air and disap
peared. He secured $45 from the cash
register. M. Sydenstrecker, the clerk,
snapped a 22-callber revolver four times
at the robber, but the cartridges failed
to explode.
While the clerk was waiting on a cus
tomer who was accompanied by a little
girl, the robber entered the front door
of the store and pointing a big revolver
at Arthur Labare, a boy who was sit
ting on a stool, said: "I am a highway
man, hold up your hands." Labare fell
from the seat in fright, the customer
backed out of the store, followed by his
little girl, and Sydenstrecker, who was
behind the counter, dropped to his knees
and made for the rear of the store.
The robber jumped on the counter and,
leaning far over, deliberately fired a
shot a Sydenstrecker's back, but missed.
Sydenstrecker secured his small revolver
and returned to confront the robber.
He pulled the trigger of the antiquated
weapon, but the shells would not explode.
Four times, while tho robber was with
in less than ten feet of him, Syden
strecker snapped the hammer. The rob
ber threw hlB Rrm over his' face and
dodged each tiim until he finally under
stood that the weapon was useless and
then he raised his own revolver and fired
a second shot. The bullet passed through
two sides of a glass case and a partition
and Into the wall in the rear room, miss
ing Sydenstrecker, who got out the back
way, and the robber tapped the till and
San Francisco Detective Robbed of
Badge Valued at $150— Thinks
Thief Saw Him Show It
to Conductor
By Associated Prtss.
SAN FRANCISCO, Oct. 26.-Detective
Sergeant Edward Gibson was robbed of
his star In a Mission street car this morn
ing. It is valued at $150, being of solid
gold and bears the hoodoo number 23.
The officer thinks It was taken by some
one who saw him show It to the con
By AuociaUd Praia.
NBW YORK, Oct. 26.— Herbert Parkin,
a patsenger on the steamer Baltic, which
arrived today from Liverpool, leaped
overboard last Sunday night and was
drowned. Parkin gave a fellow passen
ger the address of a woman In Hull,
England, asking that she be notified. Then
he rushed to the rail and Jumped over
board. The liner was stopped and a
lifeboat lowered, but no trace of the man
couU be found.
Parkin was on his way to Kansas,
where, it Is said, he was soon to have
been married.
mpres on
against King Edward.
His majesty left Newmarkt.
terday and returned to London.
Officers Attacked by Mobs and Three
of Them Are Taken to Hos
pital in Serious Con.
By Associated Press.
arONXERS, N. T., OcC 28,-As a result
of an attempt of the Yonkern City Rail
way company to ran cars this afternoon
tl.ree policemen and a strikebreaker are
in the hospital. Two cars that ran along
Riverdale avenue were attacked by a mob
and every pane of glasa In them was
smashed with stones.
Mounted policemen who tried to drive
back the rioters were knocked off their
horses and finally were rescued by other
policemen, who charged into the mabs.
The motorman on one of the cars at
tacked was struck In the head by stones
and knocked unconscious.
He and two policemen were taken to
tho hospital. A eimilar scene was en
acted in Warburton avenue. Policeman
Kennedy, who tried 'to restore order,
was hit on the head with a stone and
severely cut. After their attack on tha
cars the mob tore up the switch poles
in the tracks in Warburton and Ash
burton and threw them Into the water.
at is expected the White Plains national
guard will be brought here to restore
Output in Goldfleld District Last Week
la 5390 Tons — Smelters Re
fuse to Take Mor«
By Associated Press.
GOLDFIBLD, Oct. 26.— The output of
the mines and leases of the Goldaeld dis
trict for the week ending last night was
Z39Q tons, having a total estimated valu*
of $600,920. This is a remarkable show
ing In view of the prevailing financial
conditions throughout the country, which
have a direct, effect on the produotlon of
the mines.
The smelters havo practically refined
to receive ore, presumably on account of
the money Rtrlngency, as they have an
nounced that they will only receive ship
ments to be settled for at their con
As a result of this announcement, local
smelters have been closed for the last
three days and the mines hr.ye shipped
jio ore. "Thn Mohawk Jumbo, the heav
iest shipping leased camp, has also been
closed since Monday afternoon, pending
a new survey of it* underground
¦fe _ ___ —
Theodore Roosevelt Will Today Cele
1:; brate Forty-ninth ' - Anniversary of
, His Birth— Quiet Family ; -
;¦ ' ', ;•¦¦.' Rejoicing ¦¦'¦ !.'" ¦'.'¦', '¦-'¦'"
By Associated Press. . .• .". •../. ','¦:.';,--;' '-iM
WASHINGTON, Oct. 26.— President 1
Roosevelt will be ,49 " years old ,< to- ¦ v;
morrow. ¦;.. '¦ 'vV "• •.. .•¦"".•' '•¦•^>.\j • r?»*'^'^;
:¦; Besides ' a quiet ¦ family rejoicing he SSj
will receive congratulations from mem
bers '¦ of , the ;; Hungarian ",, club of • New X*%
York, thus continuing" i a! custom lnstK
tuted by that club several years ago- In )¦¦¦.>.
presenting ; themselves i to > the ! president "isi
of the United States on the anniversary
of his birth. ' '.aS^I!IS3S3SS
First Mate Fatally Hurt
By Aaaoclatad Ftms.
3AN <FRANCISCO, Oct. EB.— lnjuries
which are likely to prove fatal were sus
tained this morning by A. Villen, first
mate of the British steamer Dunfernlln,
as the result of a fall Into -a, deep -f or
.ward hold at the Tesiel.

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