Tonopah daily bonanza. [volume], November 08, 1907, Image 1

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

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onopah Daily Bo
WEATHER
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VOL. Ill NO. II
roNOl'AU NEVADA. Kill DAY MOUNINO. NOT.MlU.!; N IPO?.
riUCE 10 CENTt5
WILL BE DISBURSED
FOR WAGES
ON NEXT MONDAY IN
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TRADE
AFFAIRS
BETTER
CLEARING HOUSE CHECKS HAS
NO EFFECT UPON VOLUME
OF BUSINESS
By Associated Press.
NEW YORK, Nov. 7. Sev
eral important events today
served as an admonition that
conditions are not yet ripe to
move definite influences of fin
ancial disturbances, from which
the country has suffered. The
action of the stock market in
dicated some disposition to con
test the effect of these events.
But a heavy tone prevailed ultimately.
Information was given out
from the office of R. G. Dun Co.
today that the trade conditions
throughout the United States
during the past week show a
marked improvement over the
seven previous days. The issu
ance of clearing house checks
in various cities has had no ap
parent effect upon the volume
ft trade.
OLD OPERATORS
SEEKING WORK
(Associated Press.)
NEW YORK, Nov. 7. President
Clowery of the Western Union Tele
graph company, in a statement issued
this morning, said: "The declaration
by officers of the telegraphers' union
that a truceor agreement had been
entered into by the company and the
strikers is untrue."
Following the official calling off of
the strike, which- was voted yester
day, the local offices of the Western
Union and Postal companies were
crowded this morning with strikers
who sought to regain their 'former
positions. None were accepted, how
ever, the companyr announcing that
all positions had been filled on last
Tuesday, and at the present time the
Western Union has its full quota of
men.
GOLD SHIP MAKES
A GREAT RECORD
(By Associated Press).
NEW YORK, Nov. 7. The Lusi
tania was sighted about twelve miles
off Fire Island at 11:31. This will
bring her in at 12:30, beating her
previous record by one hour and
fifty-two minutes.
The Lusitanla has on board $10,
000,000 in gold for the United
States.
WHOLE TOWN MAY
BE LOST BY FIRE
BIRMINGHAM, Ala , Nov. 7.
(fjonta, the county seat of Blount
county, is burning and at 2 o'clock
It is reported that the business sec
tion has bwtm destroyed and the fire
is not under control.
OKLAHOMA HANK FAILS.
LAWTON, Okla., Nov. 7. The
Merchants and , Planters Bank of
.Lawton, a small institution, suspend
ed business today. The bank has de
posits of $7000.
Bright, Crisp, Currency and Shining' Twenty
Dollar Gold Pieces Being Shipped Into the
Camp for the Payment of the Miners
Over one hundred thousand dollars will be disbursed on next
Monday in this camp for wages to the men at the various
mines.
The money will be paid out by the Tonopah Banking Corpor-
ation and the Nevada First National Bank. The coin Is now on
the way hither and some of it has already arrived. It has come
and Is coming in bright, crisp, currency and in shining twenty-
dollar gold pieces.
This will mean much to Tonopah, for what Is needed here now
is the coin of the realm for general circulation. One hundred
thousand dollars is more money than can be taken out of any
bank in San Francisco, in Chicago or New York. If half this
money is put into general circulation, Tonopah will be all right
for many a day to come, and there is another payday coming at
the mines a month hence.
, The Tonopah Banking Corporation and the Nevada First Na-
tional Bank are doing what is not being done by any other bank
in any big city in the United States. With the John S. Cook
bank in Goldfield, they are placing no limit on the withdrawals
of depositors.'
The two banks here are doing about all the business that they
can handle at the present time, but they are not beginning to do
as much as the postofflce and Wells Fargo & Co. Men have
been sending away money through the messenger of Uncle Sam
and the express company. There have been others who have been
depositing their money with these two agencies, and receiving
checks payable" to themselves.
la the past week there have been $13,000 taken out in the
postofflce orders to remain at home, and there have been $10,-
000 sent out on money orders. There has been about an equal
amount sent away, or "made to self," in Wells Fargo & Com-
pany's office.
All this money has been sent away from Tonopah. The peo-
pie who have had money orders made payable to themselves at
Tonopah, may be hugging the fond delusion that the money still
remains here, but it does nothing of the sort. It has gone, passed
out of circulation, and passed out of Tonopah.
It would be much better for the people to hoard their money,
to keep it in their pockets, in their tin cans, in their stockings,
or safe deposit vaults, for then the money would be at home.
If the people who have taken money orders for themselves at
WjIIs Kargo. or the postofflce, think that the money is here, let
them try and get it back. As fast as money is placed in the
money order department of the postofflce, it, according to the
law, must be Bent to the depository of the particular office,
which, in the case of the Tonopah branch, is in San Francisco, and
if there were a run on the postofflce, the latter would be in the
same shape that any bank would be that did not have the cash
on hand to meet the demands of Its depositors.
To be sure the money is good, but that can be said of the
money in the banks of San Francisco, where they are paying out
clearing house certificates. The proposition is that when a man
wants his money right away, he wants it quickly, and he wants
it badly. But the money would not be on hand If any great sum
were demanded back from either Wells Fargo or the postofflce.
It - would be the better policy for anyone desiring to ship
money to San Francisco, for instance, to buy exchange at one
pt the banks. It would cost less than to buy a money order
from Uncle Sam, or from Wells Fargo & Company, and the dif-
ference is that the money would not go out of town. The money
eht by the bank would go through the clearing house of San
Francisco, and the receiver would get his money partly in gold,
and part in clearing house certificates.
No hardship would be worked on the man in San Francisco,
for the reason that the certificates pass current anywhere in the
city. They are doing business there on a clearing house certlfl-
cate basis. A certificate of the denomination of twenty dollars is
worth just as much, for purchase power, as a twenty-dollar gold
piece. All over the United States the certificate system is now
in use. If the man receiving the money from Tonopah wanted
to send money to Denver, or some other point, he could do it
by depositing the certificates in the same bank from which he re-
ceives them. The man in Denver would be paid in similar cer-
tificates, and everybody would be just as well off, and the money
would be kept in the banks of the various towns.
There will be without a doubt some of the money which Is
paid to the men on next Monday shipped out of the country.
There will be a great amount of it paid to the merchants and
others; but if the men who are in the habit of shipping out the
money each month could be made to see the unwise policy of do-
ing this; or if they would cut down the usual amount sent away,
it would be a great thing for Tonopah.
CHICAGO MAY NOT
USE CERTIFICATES
By Associated Press.
CHICAGO, Nov. 7. The members
of the Chicago clearing house have
decided to have clearing house checks
printed and ready for use as cur
rency, provided the emergency
arises. If the financial conditions
improve, as is antiicpated, script will
not be put into circulation.' How
ever, the printing has been ordered
simply as a precautionary measure.
MANY MEN WILL
BE OUT OF WORK
(Associated Press.)
BRIDGEPORT, Conn., Nov. 7.
The American Gramaphone Com
pany, employing 2900 hands, an
nounced tonight that it would shut
down for an Indefinite period. The
Ballard Machine and Tool Company
is running on half time, and the
Blrdseye, Somers and Company, cor
set manufacturers, have closed.
SUBIG BAY WILL
BE FORTIFIED
(Associated Press.)
WASHINGTON, Nov. 7. The Joint
army and navy board, which is con
sidering the Philippine fortifications,
has divided itself into commutes of
ons and each will make a report at
an early date as to whether the naval
base shall be established at Subig
bay or Manila harbor. The board
expects to reach a decision so that
the final report can be made to the
President before Congress convenes.
Whatever the decision is, it has al
ready been decided that Sublg bay
will bo fortified.
SMALL HANK SUSPENDS.
SAN ANTONIO, Nov. 7. Woods
National Bank of this city suspended
shortly after noon.
European Money
Markets Feel Heavy
Exportation of Gold
By Associated Press.
NEW YORK, Nov. 7. The Contest of the European money
markets to retain the gold resources was indicated today by the
advance by the Bank of England and the Bank of France in the
rates of discount. England advanced to seven per cent, and
Fiance to four. A meeting has been called of the Imperial
.Bank of Germany for tomorrow, and it is expected that the rate
will be advanced from six to seven per cent. These rates are
regarded here, however, as insufficient to prevent a further im-
portation of gold to this country in view of the large credits
created by the shipment of wheat and cotton.
The engagement of gold today brought up the total importa-
tion on the present movement to $40,000,000. The temporary scar-
city of money Is being met very generally, however, according
to the reports from all quarters, and the situation is gradually
becoming normal.
BROKERS AND BUSINESS
MEN ARE OPTIMISTIC
IN SAN FRANCISCO
By Associated Press.
SAN FRANCISCO, Nov. 7. Among bankers and business men
here the feeling today has been one of great optimism. The
clearing house script Is being accepted everywhere and some peo
ple are now drawing money out of deposit vaults and seeking
investments for it. Another flood of gold, to the amount of $830,
000, was paid out of the sub-treasury here today, which will
have the effect or further easing the situation.
An order from Washington, jrdering the sub-treasury here to
cash government checks drawn on other sub-treasuries, will" re
lease more gold tomorrow.' Banks in several of the outside
cities received gold from the sub-treasury here today.
FINANCES OF THE
BIG EXPOSITION
(Associated Press.)
NORFOLK, Va., Nov. 7. At a
meeting of the board of directors of
the Jamestown exposition the finan
cial statement was read, showing the
total liabilities, amounting to $2.
400,000. No statement of the as
sets was made and the committee
will consider the feasibility of open
ing the exposition next year. They
will report November 15 th.
TUNGSTEN MINES
ARE CLOSED DOWN
BAKERSFIELD, Nov. 7. The
Degolis and Atkins tungsten mines
on the Mojave desert, said to be the
best paying mining properties in the
West, have been closed down and a
hundred miners discharged. The
cause is said to be the overbearing
attitude on the part of union labor
interests,
DKPARTMKNT STORK FAILS.
PROVIDENCE, R. I., Nov. 7. A
petition in bankruptcy has been filed
against the O. Gorman Company, the
largest department store in the city.
The heaviest creditors are Boston
wholesalers.
OPERATORS SEEKING "WORK.
CHICAGO, Nov. 7. Reports com
ing in tonight show that the teleg
raphers' strike is being called off at
many points thorughout the country
and the men are applying for posi
tions with the telegraph companies.
Some are being taken bnrk.
HEAVY FINE FOR
THE SANTA FE
(Associated Press.)
LOS ANGELES, Nov. 7. Judge
Olln Wellborn, In the United States
District Court, today fined the Atchi
son, Topeka & Santa Fe Railway
Company $330,000 for rebating. The
company was convicted on sixty-six
counts for granting rebates to the
Grand Canyon Lime and Cement
company on shipments from Nelson.
Arizona, to Los Angeles. The fine is
$5000 on each of the sixty-six counts.
KNOWN IN WASHINGTON.
BELLINGHAM, Wash Nov. 7.
V. L. Kline, who was shot at Gold
field,. Is well known here, where he
conducted a jewelry store. He has a
sister, Mrs. Ed Hays, and a mother
here. His brother has a store here
-TV'. 5--n stcrted 'or OolrfiH.
ROBBER
KLINE
WILL DIE
JEWELER S ACCOMPLICE CON
FESSES TO THE CRIME
WHEN ARRESTED
GOLDFIELD, Nov. 7. V. L.
Kline, the jeweler, who was
shot last night, while attempt
ing to rob the Nevada Goldfield
Reduction Works, cannot live,
according to the doctors who
are attending him. Ralph S.
Gipple, his accomplice, has been
arrested and has confessed his
guilt.
Nothing has happened in
Goldfield in many days that has
caused such a profound sensa
tion.' Kline was a man of the
highest standing in the com-
munlty, well known in business
circles and high up in fraternal
work. Gipple was formerly a
clerk in the postofflce and later
assistant agent of the Tonopah
and Goldfield Railroad Com-
pany.
The two men were fairly
officers now believe that they
are the same men who held up
the watchman of the Gardner
mill, while they made away
with the amalgam.
The sheriff's posse was secret-
ed in the room where they were
to commit the robbery, when
the two men, disguised, enter-
ed. Kline held an automatic
in each hand, and carefully ap-
proached the amalgam table,
followed . by his accomplice.
They were at their work, when
Sheriff Ingalls called upon them
to throw up their hands. In-
stead of obeying the command,
Kline seized his weapons, and
the next moment a volley rang
out from the officers and the !
robber fell in his tracks, shot
through the head.
Gipple made a dash up a
stairway, and jumped through
a window to the ground, twenty
feet below. He was fired at 1
repeatedly, but he managed to
escape uninjured. He was ar-
rested this morning and confess-
ed his crime to the officers.
At a late hour tonight Kline
was not expected to last out the
night. His wife is with him,
and the unfortunate woman Is
prostrated over the affair. He
has two children, and the sym-
pathy is with the unfortunate
family. He stood very high
here unnf n 1 1 v n nrl waa 1 .-...1. ..
upon as a splendid business
man, but it is said that he has
been under the surveillance of
the officers for some time. That
there . were others connected
with the two men there is no
doubt, and other arrests are ex
pected.
GOVERNOR OPPOSES
EXTRA SESSION
SACRAMENTO, Nov. 7. Gover
nor Glllett is still averse to calling
an extra session of the legislature,
and says that at the conference in
San Francisco tomorrow, it must be
shown absolutely that California is
unable to pay her taxes before he
will consent. He fears that the ac
tion would be harmful to the State.
SCRIPT PAID FOR LABOR.
PITTSBURG, Nov. 7. The Na
tional Tube Company today posted a
notice that it will meet next pay day
with clearing housa oNwks. Tt"
concern employs about 12.000 men.