Tonopah daily bonanza. [volume], October 29, 1907, Image 1

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

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?onopah Daily Bonanza
LEATHER
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TM to
MBIss
vol. m no.
ro.NOPAU NEVADA, TUESDAY MORNING. OCTOBER 29. 1907.
PKICE 10 CENT?
"tm mm, HI li Mi Ht
U 1 UUll
MARKET
IS QUIET
RESEMBLED SISI'EXDED AXI
MATIOX AT TIMES
YESTERDAY.
(Assc lated Press.)
NEW YOR1 ' Oct. 28. The Mock
market was In, condition resembling
suspended animation at times today
owing to restraints placed upon the
flow of banking credits. A higher'
range of prices prevailed in spite of
the scanty volume of transactions
and an expression of confidence gen
erally was felt that the financial
crisis is now under control. This
influence, derived from the general
situation, was modified to some ex
tent by readjustment of loans on the
stock exchange, necessitated by the
i dissolution of the bankers' pool,
which supplied from $30,000,000 to
$35,000,000 to be loaned on the ex
change last week.. The borrowers at
the stock exchange reported directly
to the banks which were members of
the pool, to secure accommodations.
The result wag some dislocation in
existing arrangements which produc
ed an effect on prices of stocks late
In the day. - Bonds were irregular.
Total sales had a par value of $4,
804,000. United States bonds were
unchanged on call.
; THE METAL MARKET.
(By Associated Press).
NEW YORK. Oct. 28. Lead,
quiet, $4.55 to $4.75; Lake cop-
per, strong, $13.00 to $13.25;
silver, 60c. v
EXCEED)
0
w
BY MANY THOUSANDS
il IJiJPMWA
I.
J
No Excitement WhatevenAt
tendant Upon the Reopen
ing of Banks-Bank Exam
iner Miller Will Be in this
City Today to Look Into
the Affairs of the State
Bank and Trust Company
Nye & Ormsby Opens for
Business at Reno.
. The situation in the State and throughout the entire country has im
proved beyond the expectations of the greatest of optimists, and even men
who were inclined to be pessimistic were more cheerful yesterday and
last night. That the banks are all right, there is not heard a word to
the contrary. Some of the biggest depositors of the State Bank and Trust
Company in this city have been .to see Cashier Cushman and have offered
to let their 'deposits lie for a year, if necessary, and have promised to put
in more money the day the bank opens. ' , -
Two of the banks opened yesterday morning, as it was stated in
the Bonanza of Sunday morning that they would. These were the Tono
pah Banking Corporation and the Nevada First National Bank. There
was nothing that looked like a run, and everybody was of the opinion that
Just what happened would happen. As a matter of fact neither the Wing
field or the Macdonald bank has been closed since the trouble began.
They shut their doors for banking manners, and in deference to the proc
lamation of Governor Sparks; but there never was a time when any de-
"I cannot make an official Ktati-iiH-nt, but I have every reason
to Ixllove that the State bank will innii' through with flying col
ore. I am not at liberty to give exact information regardlnKthe
affairs or the bank, but I have heard that Mr. Kicker is able to
meet every claim. There is every reamiu for enrouragement in
the situation." State Bank Examiner M. H. Sillier in Goldfleld
lironicle.
i
positor of either institution wanted any money, that he could not get it.
The amount that he could have was limited only by the size of his ac
count. . , ,
How the people regard the safety of the banks could not have been
better demonstrated. There was not even two or three people at the
doors of either bank when the doors opened. Nobody sermed to be in
a hurry to get out. his money; in fact, the day was a verv ordfnary one
in banking, quite a dull day.
The Tonopah Banking Corporation took in' over the counter. In
cash, $102,966.71; and paid out .in actual cash, $17,728.49.
The Nevada First National received in deposits, $49 985 64- and
there were in withdrawals, $2971.34.
' Where the money all came from was the surprise. But it came
Just the same. ' '
4 State Bank Examiner Miller has been busy. He has examined the
Carson branch of the State Bank and Trust Co.. and he spent yester
day in going over the affairs of the bank In Goldfleld. Today he
will be in Tonopah. He is quoted as saying that there is no doubt In
his mind that the bank will resume. '
All the banks in Reno opened their doors yesterday, and thete was
not the slightest suspicion of a run. The only bank here that has not
opened is the Nye and Ormsby, which is taking advantage of the con
tinuation of the holidays to remain closed until they are in shape to open
The Reno branch resumed yesterday, and the report is that Frank Gol
den will be here in a day or two.
The John S. Cook bank resumed in Goldfleld, according to program
and there was no run there; no run was expected, but the gold twen
ties were piled ceiling high, so that the skeptical might look and see if
he desired. It was an ordinary dav's linsl
' " v"- vwur UtlUIL.
MAKE
RAPID
STRIDES
FORD BRIBERY TRIAL WILL
SHORTLY RE IX HANDS
OF JURY.
By Associated Press.
SAN FRANCISCO, Oct. 28. -Such
rapid progress was made today by
the prosecution in the Ford bribery
trial that if the defense adopts its
procedure in the former trial and de
clines to put in any evidence in the
case, it should be in the hands of the
jury within the week. Twelve wit
nesses were examined today, which
included Nathan Seely, cashier of the
San Francisco miat; former Supervis
ors Thomas F. Lonergon, Sam Davis
and Daniel G. Coleman; Thomas F.
Burns, cashier of the San Francisco
sub-treasury; Eugene D. Hawkins,
assistant cashier of the mint; Charles
vj, ivuei uuice Doy;
Richard J. Fox, formerly a chauffeur
in the employ of Ruef; I. Hellm'an,
president of the Wells Fargo Nevada
National Bank and a director of the
United Railroads; George Francltj,
secretary and confidential clerk to
Tirey L. Ford; Miss Cella McDer
mott. Ford's stenographer, and Geo,
WHcutt, secretary and comptroller of
the United Railroads. Mr. WHcutt
supplied the feature evidence of the
day by testifying, to the uncalled
surprise and manifest distrust of the
prosecution, that the books of the
street car corporation do carry as en
tries $200,000, with which Ford and
Ruef are alleged to have bribed su
pervisors to pass the trolley fran
chise. The witness was directed to
produce the corporations journal and
ledger tomorrow.
" muger tomorrow.
3E3 II I ill l H f i II 111 II fl II I I I I V V I I
AS OTOUT.O
$15,750,000
in Gold
I IUIII LUIUpC
$7,000,000
from Abroad
for Copper.
VER
No Further Failures of New
York Banks and a Likeli
hood That Suspened Ones
Will Resume.
By Associated Press.
NEW YORK, Oct. 28. The principal events in the financial
district today indicated that the worst of the crisis was over and
that conditions were settling down to normal. There were no
further bank suspensions and reports were favorable for a re-
sumption of most of the banks which were closed' temporarily last
week. The engagement of $18,7 50,000 in gold from Europe for
importation to New York was followed by the sensational an- ;
nouncement of the sale of American copper abroad which will
further increase the tide of foreign money to this country to an
aggregate of over $25,000,000. : This, with the rapid rise of good
securities on the stock exchange, in some cases as much as four
and five per cent, and the policy of the trust companies not to
pay out currency for hoarding purposes, all contributed to add "
strength to the feeling in banking circles and among the public
at large. The runs upon banks especially ceased, partly because
of recognition that they were unnecessary . and unjustifiable and
partly because of the policy adopted to pay large checks only in
certified checks in depositary banks. This-system of payment
worked no apparent hardship and was the cause of very little pro-
test.' Small checks are paid promptly In currency; -and larger 4
amounts where It was demonstrated that currency was required ';
for nnrnoses other than for hoarding. ; . 5.
.
Russian General's
Daughter Kidnapped
(Associated Press.)
LONDON, Oct. 28. Barbara La
potkhin, daughter of Alexander La
potkhln, ex-governOr of Reval, and
whose mother is a Russian princess,
has mysteriously disappeared in Lon
don and all sources of the Russian
embassy and Scotland Yard are be
ing employed to trace her. Miss Bar
bara, 18 year sold, was visiting in
RECORD OF DEPOSITS
A! WITHDRAWALS
v
THE PETTIBONE
CASE JNTINUED
(Associated Press.)
BOISE, Idaho, Oct. 28. Attorneys
for the State and defense in the case
of George A. Pettibone, charged with
complicity in the murder of ex-Goy-
ernor ' Steunenberg, today signed a
stipulation that the trial, which wai.
set for next Monday, should be con
tinued to November 18. The reason
for the continuance as given in the
stipulation is that Clarence Darrow,
chief counsel for Pettibone, is engag
ed In defending Steve Adams, on
trial at Rathdrum for the murder of
Fred Tyler. It is also agreed that if
the Adams trial is not concluded by
date named there shall be further
continuance. "
The Tonopah Banking Cor
poration and the Nevada 'First
National Bank opened their
doors yesterday morning,' and,
as was expected, there was no
run on either institution. . The
receipts of the former were six
times greater than the with
drawals of actual cash, and of
the latter more , than fifteen
times greater. Following is the
record , of the deposits and the
cash , withdrawn:
TONOPAH BANKING COR
PORATION. Deposits .... . . .$102,966.71
Withdrawals . . . 17,728.49
NEVADA FIRST NATIONAL
, , BANK.
Deposits .... . ..$49,985.64
Withdrawals . . . . 2,971.34
London with her younger sister, in
charge of an English governess, Miss
Russell. The trio went to Aldwych
theater on October 24th. On coming
out, Barbara became separated In the
crowd from her companions and has
not since been seen, although the
case was Immediately reported to the
police and the foreign office, acting
upon the urgent request of the Rus
sian government, ordered that no ef
fort be spared in search for the miss
ing glrjj t Since, Miss Lapotkhin dis
appeared the' governess has received
a note in handwriting which she rec
ognizes as Barbara's, saying she had
been kidnaped outside the theater,
and was now a prisoner in the cellar
of a house in the northwest part of
London, the address of which she
was unable to ascertain. The , girl
added that she was wounded and
suffering so severely, she Intended to
poison herself. M. Lapotkhin has
been director of the police depart
ment In Russia, and Miss Russell
suggests that revolutionists planned
the kidnapping, with the object of
bringing her father within their
reach. . He .is now on .his way to
London.
SanTpandsico-'v
.On.-a dearing-
Moose iasis
CONFIDENCE ' BEING RESTOREO.
WASHINGTON, Oct. 28. Secre
tary Cortelyou Btated today that he
had received very reassuring reports
from New York, Chicago and other
points to the effect that confidence is
being restored. '
AMBASSADOR TO JAPAN.
YOKOHAMA, Oct. 28. The new
American ambassador, Thomas J.
O'Brien, and wife, were Introduced
'
'
.
-
;
i By Associated Press.
SAN FRANCISCO, Oct. 28.-The following statement was is
sued tonight by the San Francisco Clearing House Association
thron5h Prf ldent Homer S. King: "San Francisco has taken the
same action through its clearing house as that taken by banks in
the Eastern centers. At a meeting of the association today it
was resolved to issue clearing house certificates and put the fin
anclal business of the city on what has come to be called a clear
ing house basis. To carry this into effect it was decided further
that they should follow the methods in vogue in New York, Chi
cago and in all business centers of the country. '
No payments in coin except for the reasonable and clear
ly legitimate needs of business. Checks received by members of
the community in regular course of business should be deposited
as usual, each in his own bank, and they will be redeemed through
the clearing house Just as they always are except that clearing
house balances between banks will be settled by clearing house
certificates instead of gold. Checks, when presented over the
counter for collection, will be certified "Payable through the San
Francisco clearing house," and then may be regularly used for all
payments. Such checks will be freely accepted on deposit at coun
ters of other banks or in payment of amounts due the latter
They will also answer for payment of bills and, in short, pass cur
rent as money. Banks will pay money on small checks as desir
ed and to provide funds for pay rolls and other legitimate uses
Should money be demanded in unusual amounts it will be refused
unless evidence is given that it Is required in good faith and for
other purposes than hoarding, to prevent which is the main pur
pose of this step. Local conditions are sound and satisfactory
We are In the midst of marketing one of the most valuable crops
the State has ever produced. All up and down the coast we are
In receipt of, reports of unexampled prosperity. With these con
ditions locally, our financial affairs are on the best possible basis.
Suddenly, however, difficulties arose In the East, the banks there
finding it necessary to combine their funds to protect the credit
structure. The demands are diverted to the prosperous West
wuit;n muni Bimuany protect Its own community.
to the foreign residents of this city
last night at a brilliant reception
given at the residence of Consul Gen
eral Miller.
OKLAHOMA A STATE.
(Associated Press.)
WASHINGTON. Oct. 28. Presi
dent Roosevelt will issue a proclama
tion on Saturday, Nov. 16. admitting
the new State of Oklahoma. The or
der was formally placed in his hands
by Governor Frantz and a large dele
gation from Oklahoma this morning.
PITTS BRG EXCHANGE CLOSED.
(Associated Press.)
PITTSBURG, Oct 28. It was de
cided at a meeting of the hoard of
directors this morning not to open
the stock exchange today. Just when
it will resume-Is not known.