Tonopah daily bonanza. [volume], October 27, 1907, Image 1

About Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929

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Tonopah Daily Bonanza
WEATHER
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VOL. nt NO. 4
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TONOPAU NEVADA. SUNDAY MORNING. OCTOBER 'J7. 1907.
ntlCE 10 CENTS
BE
wm
TO
Notwithstanding the Procla
4 mation of Gov. Sparks De
claring Legal Holidays Until
November 4th, Financial In
stitutions Will Resume Bus
iness Tomorrow Morning
The Wlngneld und Nixou bunks will open up for busings tomorrow
morning, notwithstanding that Governor Sparks has deeluml all next
week a legal holiday. Tills action was resolved upon at 5:30 o'clock last
night; when George Wingfield made the announcement. Later in the
evening Jolui 8. Cook was called p by telephone and was asked if this
report was true.
"That is the Intention at the present time,", said Mr. Cook, "and 1
cannot see any reason for changing the program."
Mr. Cook stated' that he had, nit received official information of the
Oovernor's proclamation, and that he did not think it would interfere
with the plan outlined for opening up the Wingflold and Nixon banks. If
there should be any change in the program, he promised , to notify the
Houanza. I'p to the hour of going to press, nothing had been heard to
the contrary, and It U evident that tla lumk will reMinie tomorrow
morning. '
II. C. Moor of the Tonomh Hanking ('orporalkm said lust night
that he was to confer with Mr. Cook today, ami that lie was of the opin
ion from the Instructions received that there wiHtld be a general resumx
lion of the houses controlled by Wing field and Nixon.
Cashier ICaycraft last night received official notice of the continuance
of the holidays. He received notice also that all the banks In Ileno would
resnnie on Monday. -
"Tliat will tenit to relieve tlM' sit uatioii,''' said he, "and the banks in
soul hern Nevada will oen as fast as they ran gather in their reserve"
and get info shaH to do business. When the tanks do open, they must he
in slinpe to continue. I think that the Governor has acted wisely in pro.
longing the holidays."
Mr. Moore of the Tonopah Hanking ': Mrat ion said that he hud not
lieen officially informed of the holidays. He thought that the entire situ
ation was looking better than nt any time since the trouble began. This
tins the case, not only in the East, but In Nevada us well.
The directors of the Nevada First National Hank held It meeting last
night nnd passed the following resolutions:
"Whereas. The Nevada First National Hank of Tonopah, on Thurs
day, the 24th day of October, 1907, at the hour.of 1 1 o'clock A. M., closed
its doors at the request of other banks in the community and out of re
siect for the proclamation of the Goenior of this State, proclaiming
Thursday, Friday and Saturday legal holidays; and
"Whereas, The Directors of this bunk hare a high regard and re
spect for the Judgment and discretion of the Governor or Nevada, w!k
has proclaimed a further six-day period of legal holidays; nevertheless,
we believe that a projM-r consideration for our depositors and a just and
proper treatment of them and oty clients demands the opening of our
doors for regular banking business forthwith; and
"WltcreaM, We believe llw oM-aing of thin bank may tend to amelio
rate the condition of the community; I here fore, he It
"Iti-solved, That the Nevada First National Hank of Tonopah. on Mom.
day morning, K tols r SHth, MX) 7, at the hour of o'clock, regularly re
sume anil continue Its general banking business as In tlic past."
With regard to tlx- State Hank and Trust Company, there ha been no
change In the situation locally; but they are pretty busy in Goldfleld, and
the principal depositors are doing all in their power to prevent the a
polntniout of a receiver, which lias lieen asked for by Attorney Nagle. Two
hundred' names. It is said, have lieen affixed to n petition to Judge Ijn
gan, which reads as follows:
"To the Hon. F. !. Lnngnii, Judge of the First Judicial District of
the State of Nevada, In and for Ksmeralda county:
"We, tlie undersigned depositors and creditors of the Goldfleld
In audi of the Stute Hank and Trust Company, residing in Goldfleld, Ne
vada, do hereby petition your honor that you refuse the application of
the petitioners In the suit which is now liefore your honor asking that a re
ceiver le appointed for t lie State Hank und Trust Company.
"We have full faith und confidence in the hank and Its manage
ment, and believe that the best results ran be obtained by leaving the
bunk in tiie same situation as at present and give the managers of tlie
hunk the opportunity to regulate their affairs so tliat they ran open tlie
hank at the earliest possible moment.
"We further believe that the appointment of n receive! would only
complicate matters and would he the cause of n r large bill of expense
which would eventually fall titon the creditors and depositors in the
bank. ;
"Hoping tliat your honor will refuse the application for the appoint
ment of a receiver, we remain,
"Respectfully,"
MORGAN
and
STJLLMAN
V
EWS
ON
S
WILLIAM
JENNINGS
BRYAN
n By Associated Press.
NEW YORK, Oct. '26. In response to a request of the Asso-
elated Press as to his views of the present stiuatlon, J. P. Morgan
saldoday: "As I have already said, I cannot W strongly em-
phasize the importance of people realizing that the greatest in-
Jairy that can be done In the present situation is the thoughtless
njlhdrawal of funds from banks and .trust companies and then
hoarding jcash in safe deposits, vaults or elsewhere, thus with- -
drawing the supply of capital always needed In such an emer-
gency as that which has been confronted during the past week,"
James Stillman, president of the National City Bank, who,
next to Morgan, has done more to bring about a solution of the
financial difficulties in New York than any other, said: "The
wise and heroic action of the Secretary of the Treasury and the
Sfplendid efforts of Morgan, with the assistance of the clearing-
house, have demonstrated the sound financial condition of the
clearing house banks of this city. Now. however, in order to
facilitate shipments of cotton, grain, tobacco and other products
and to facilitate the imports of gold, the associated banks have
wisely decided to combine their credit by the issuance of clearing
house certificates and thus prevent the paralyzing of a very large
nort nf hnslnpKS.
I ' "
Tone of Stock Market Shows
Vastly Increased Confidence
By Associated Press. ' , . '
NEW YORK, Oct. 26. Quiet conditions reigned throughout the
two hours' session of the stock exchange, owing to the rule of pro-
cedure by which loans made on Friday , carry over till Monday. f
The immediate borrowing of money was not a necessity and the
direct influence of the money position was to that extent in abey-
anee. The market was not active and the influence toward re-
pression of speculative activity or dealings ou margins was assert-
ed with undiminished force. The tone of the market was regard-
ed, nevertheless, as a reliable index of the prevailing sentiment
over the financial situation. An expression of increased conn-
dence through this medium was unmtetakable. There were oc-
casional reactions and some individual stocks, especially in the
inactive list, were severely depressed. The action of the market
was clearly toward resistance to any elements of depression and
the closing tone was still irregularly strong. Bonds were irregu-
lar. Total Bales had a par value of $2,266,000.; ; '
'
;
'
'
By Associated Press.
NEW YORK, Oct. 26. The best way to prevent a recurrence
of present financial conditions, in the opinion of Wm. J. Bryan,
would be to provide a guarantee fund, raised by taxing the banks
themselves, which could be . used in an emergency to satisfy de-'
mands of the depositors. ','But the bankers," said Bryan," "are
the very men who fight such a plan because they object to the
tax." Bryan said he thought a general panic would not result
from the present conditions in New York. He Is not Inclined to
hold President Roosevelt responsible for the present conditions."
responsible for
for at-
tacking manifest evils, but I don't mean to Bay that he has been
wise in all that he has done. '
"The local situation looks more like scare to me than anything
else," continued Bryan. "Certainly conditions throughout the
country are not such as to warrant a panicky feeling. All Indl-
cations are unusually prosperous and prices are advancing. In
that 'respect conditions are Just the reverse of what they were in
the panic of 1893, when prices were falHng. The present condi-
tions do not invite a general panic. I am not prepared to say how '
much scarcity of money has to do with the situation."
"It would be unfair to hold President Roosevelt
the situation," said Bryan. "He should not be criticised
NT
PEOPLE
1 M TO NEVADA
John Salsberry Will Have as
His Guests European and
Eastern Financiers to View
the Glories of Ubehebe.
m The State of Maryland will D
3-without its chief executive for the
next ten days or more, and for a
part of that time at least his resi
dence will be in Ubehebe.
A party,-headed by no less a dis
tinguished person than S. W. Schley,
o ;nnuin nt Admiral Schley, candi
date for Governor of Maryland, left
Baltimore at noon yesterday in a
special car. They are coming to
Toiiopah as the special guests of
" John Salsberry, the copper king, of
the Ubehebe, and he will escort them
td the mines. :.. :, '
With Mr. Schley are Governor
Varf.6ld of Maryland, and for-
. Vernor Jackson, his predeces
o A. Turner, the man who
hn.isht the MlzDah mine from Jim
Butler for his Eastern clients; ;'. H.
G. Merry and F. Feard, bankers and
brokers of Baltimore; Count Lebrate
and M. Paulliac of Paris; J. Robinson
Forbes and D. Arthur Galway of
London, and eight others, who are
" prominent business men and bank
ers of Pittsburg and Baltimore.
me
sor
MARKET FIRM
(By Associated Press )t ,
LONDON, Oct. 26. The mon-
ey market here continued In
good demand with rates firm.
Discounts were firm.
PAUL HANIKLHON DKAH.
Paul Danlelson, well known as a
miner and prospector at Beatty,
Goldfleld and Tonopah, died recently
In Monte Vista, Cal. He acquired
good stocks In early days and died
worth $50,000.
The special ' will arrive here on
Wednesday or Thursday next, where
the party will be joined by Mr. Sals
berry and his mine manager, Ray
Baker, and then proceed to Bonnie
Claire, where they will be met by a
procession of automobiles and whir
led to the -mines of Ubehebe.
Of the party, Messrs. Peard and
Merry hare been to the mines be
fore, and . it was their enthusiasm
over the wonders of the Ubehebe that
resulted In the forming of the party.
Mr. Peard went there before to look
over the ground with a view of tak
ing the proposed bond Issue on the
railroad to be constructed from Bon
nie Claire to Ubehebe. He was so
pleased with' what he saw that he
took the entire issue of a million dol
lars, and said that he would place
them without a doubt.
Some of the party are among the
bondholders, and others have been
lured by the returns from the ore
that they have seen, and want to see
for themselves this wonderful coun
try Of which they have heard so
much. That they will be pleased be
yond their expectations Is not a diffi
cult matter to predict, for the reason
that engineers from all parts of the
country have been at Ubehebe and
have come away, to a man, with the
ctmvlction that It is a- second Butte.
The name of O. A. Turner is a
household word In southern Nevada.
He knows 'this country like a book.
It was he, who, after the Mizpah had
been turned down by one expert, who
stood exceptionally high in the min
ing world, not only advised the pit
chase of the mine, but who wired a
draft for fifty thousand dollars as
the first payment. Mr. Turner is fa
miliar with the southern country, al
though he has never been to Ube-
hebe, as far as is known, and his
coming at this time Is another tribute
to the worth of the district.
Work has been continued by Mr.
Salsberry, notwithstanding the dft
pression in New York and Nevada,
and the property Is looking better
every day. In fact there is not a
better looking copper prospect in the
entire country.
WILL DEMAND
INCREASED WAGE
i Associated Press.)
ST. PAUL, Oct. 26. Eighty dele
gates, representing 3Q00 switchmen
on all the Northwestern railroads in
the territory from the twin cities to
the coast and northeast to Duluth,
gathered in St. Paul today for a con
ference preliminary to their meeting
representatives of the railroads on
Monday, when they will present de
mands for increased wages.
DIVIDEND FOR
GOLDOTW
SAN FRANCISCO, Oct. 26.
On the authority of Senator
Nixon, a dividend of twenty-five
cents a share, payable January
25th, was announced for Gold-
Held Consolidated mine.
Cornell Takes Great
Victory on Gridiron
ACTION OF CHICAGO
CLEARINGHOUSE
(Associated Press.) '
' CHICAGO, Oct. 26. The Clearing
House Association tonight announced
through a committee that it has de
cided to issue clearing house certifi
cates. It was also resolved that sav
ings banks should require from their
depositors notices provided for in
connection with their accounts.
, (Associated Press.)
- ITHACA, N. Y., Oct. 26. Cornell's
victory over Princeton today" by a
score of 6 to 5 will go down in Cor
nell's football annals as the 'most
remarkable gridiron struggle In "his
tory. The first half, in which neith
er side scored, was a continual punt
ing duel between Fiager for Cornell
and Harlem, for Princeton, in which
the Cornell man had a decided ad
vantage. Walder was responsible for
the only Cornell touchdown and
clinched the victory for the Ithacans
by kicking the goal. The Princeton
score was a fluke. Walder was
blocked In a punt on the yard line
and the ball rolled to the yery cor
ner of the gridiron,, where Booth
pounced on it. To many of the spec
tators it appeared as though the ball
had gone out of boundB. Phillips
failed to kick the goal.
MINERS VOTE
NOT TO STRIKE
(Special to the Bonanza.)
GOLDFIELD, Oct. 26. The min
ers of this camp will not go out on
a strike in sympathy with the ex-
employes of the Nevada Ltght and
Power Company in Bishop, Cal. It
was not the fault of the agitators
that the strike did not go Into effect
for they mustered in favor of the
measure 220 votes, as against 165.
As It requires a two-thirds vote to
declare a strike, the move was lost.
There was very little Interest taken
(Associated Press.)
PHILADELPHIA, Oct. 26. The
ITnlVprxltv nf (.nnavlva nta fnntKall
w.uuj . T U.M IWIMWA
eleven on Franklin field this after
noon tried io avenge defeat at the
hands of the Carlisle Indians last
Dnn...!.Hl. O W A- . t
cuudj i , auia t, 11 wan nui bo mucn
Carlisle's strength that made the
game so one-sided. As It was Penn
sylvania played a . marvelous game,
but was outclassed in every depart
ment. The Indians' . exhibition of
forward passing was perfect.
HAKVARII WINS.
(Associated Press.) -CAMBRIDGE,
Mass., Oct. 26.
Harvard had Its football slate blotted
for the second time this season by
falling to win from Springfield Train
ing School by a greater score than
to s. ine sprtngneld eleven used
the forward pass a score of times
successfully. ! .
in the voting of the nnlon. anil thn
general Impression was tbat it mat
tered little wnat action the agitators
mignt taice at tdls ime, when all, or
nearly all; the mines will be com
pelled to close' down for the reason
that the smelters are not taking any
ore. .'
" ' '-; '
THE METAL MARKET.
By Associated Press.
NEW YORK, Oct. 26. Lead,
dull, $4.55 to $4.75; Lake cop-
per, dull, $12.25 to $12.50; sll-
ver- 60c.