Newspaper Page Text
FIFTY-SEVENTH YEAK. NO. 4.
THE ARGUS, TUESDAY, OCTOBER 22, 1907.
PRICE TWO CENTS.
WAR OF FINANCIERS
REACHES STAGE WHERE
RANKS ARE TOTTERING
Knickerbocker Trust Company With Deposits of
$60,000,000 Forced to Suspend Payment
and Its Accounts Are Under Scrutiny.
CAN'T GET CURRENCY
Interest for Cash Mounts High
Stocks Fall Away to Low
est Point of Year.
Washington, Oct. 22. It is under
stood Cortelyou has ordered $6,000,000
distributed among the leading national
banks of New York.
CANNOT OUT.A1X Cl'HHESCV.
New York, Oct. 22. The Knicker
bocker Trust company stopped paying
money to depositors at 12:30, a state
ment being made the company could not
obtain currency rapidly enough.
ACfOl XTS IN1JKR S HI TINY.
New York, Oct. 22. The state bank
examiner today started an examination
of fne accounts of the Knickerbocker
INTEREST REACHES 70 PER CENT.
New York, Oct. 22. A lean of
$200,000 was made on the stock ex
change this afternoon at 70 per cent.
Several bankers formed a pool of $4,
000,000 which was loaned at between
40 and 50.
LOWEST POINT OP THE YEAR.
New York, Oct. 22. There was an
other crumbling away of prices at 2
o'clock, active market leaders selling
down to the lowest point of the day
and of the year.
Slop Payment of Cheeks.
New York. Oct. 22 Second Vice
President Brown of the Knickerbocker
Trust company, in announcing the com
pany had stopped payments to deposi
tors, said: "The trust company finds
it will be impossible to pay any more
checks today on account of the com
pany's inability to get sufficient cur
rency. The trust company is perfectly
solvent, and may resume payment to
AInrni In the Street.
New York, Oct. 22. Excitement
amounting to almost alarm marked the
opening of business today in Wall
street. The stock market opened de
moralized under heavy selling by bro
kers in all departments of the exchange
and at the same moment a run of con
siderable proportions was being made
on the various offices of the Knicker
bocker Trust company.
The stock markets opening showed
the effect of a renewed shock to confi
dence caused by the spread of financial
distrust by the published details of the
affairs of the Knickerbocker Trust com
pany. Prices broke widely on the open
ing transactions under this outpouring
of stocks, but almost immediately ral
lied. Are SenMiiUonnl Scene.
The closing of the Knickerbocker
Trust company, the secoud largest
trust company in the city, with do
posits amounting to about $CO,0UO,0O0,
was attended with sensational scenes
at its main banking room and the
Harlem branch. Depositors who
crowded the rooms clamoring for their
money were insistent that they be per
mitted to withdraw even a few dollars
and when this request was refuse!
many refused to leave the building.
Police assistance was necessary to
Monr Mnkea Statement.
Charles W. Morse Issued the follow
ing statement today: "I have not bor
rowed a dollar from the Mercantile
National bank since Heinze was elect
ed president and I do not owe them a
dollar now. ' Any statement to the
contrary is fal.se."
ReNlRiintlon In Sudden.
. New York, Oct. 22. Charles T. Ba--ney,
president of the Knickerbocker
Trust company, the largest Jn the city
from the standpoint of deposits with
one exception, tendered his resigna
tion to the board of directors at a spe
cial meeting of the directors yesterday
afternoon. Mr. Barney Is a brother-in-law
of the late W. C. Whitney.
About the fame time that this sud
den and unexpected action became
known In the financial district it was
learned that the National Bank of
Commerce had served notice both upon
the Clearing House association and
the Knickerbocker Trust company that
it refused longer to clear for the lat
ter Institution. . At the meeting nt
which Mr. Barney's resignation was
accepted A. Foster Higgins was elect
ed to his place.
Give No Good Reaom. .
Mr. Barney would give no explicit
reason for his resignation. In regard
to the remarkable action of the Na
tional Bank of Commerce he said that
he had no knowledge of it. It was
taken aftt-r his resignation was offcrei
and acted upon he said. ' National
Bank of Commerce officers refused to
make any comment whatever regard
ing the institution's summary proceel
ing. Rltlgley la Hopeful.
Washington, Oct. 22. Controller of
the Currency RIdgley, in speaking of
the financial situation in New York to
day, said: "My advices from New York
this morning are reassuring. The situ
ation there should now improve. The
storm has broken and the damage is
known 'without any failures of the na
tional banks which have lately been
American Author, Wife and Sis-
ter-in-Law Released by Rus-
ARREST ADMITTED BLUNDER
No Conditions Attached But They De
cide to Leave Country at Once,
Having Finished Work.
St. Petersburg, Oct. 22. William
English Walling of Indianapolis, his
wife, and his wife's sister, Hose Strun
sky, who were arrested and taken to
jail Sunday night because of their as
sociation with members of the Finnish
progressive party, were released last
evening. The police found nothing
among the papers of the trio to warrant
No conditions are attached to the re
lease, but Mr. and Mrs. Walling and
Miss Strunsky intend to leave St. Pe
tersburg tomorrow. They say they
have practically finished their work in
Russia. All their papers and manu
scripts have been restored to them.
Iue to Orer-Zenlon Spy.
The officers last evening expressed
regret at the arrest, which they say j
was ordered upon the report of an over
zealous spy who had been shadowing
the Finnish revolutionists with whom
the Americans had been associated.
FORCES IN A FIGHT
ival Sultans of Morocco Have
Clash at Arms in Which
Mulai riafid Wins.
MODERN WEAPONS USED
Reported Raisuli Has Determined
Kill Sir Harry MacLean Because
of French Interference.
Tangier, Oct. 22. Sultan Abd-TC'-
Aziz has been defeated by Mulai Ilafid
who recently was proclaimed sultan in
the south and has usurped; sovereign
power there. The battle, according to
reports received here from Mazaga:i,
took place last Thursday between
Shawta and Menuinez. Mulai Hafid's
forces consisted of eight regiments.
They captured Kaid Bushta Bagdani,
commander in chief of all the imperial
forces in the field, who had with him
eight pieces of modern artillery.
The effect of . this victory to tho
cause of Mulai Hafid Is incalculable.
Make SnocfMKfnl HnldN.
During the night of Oct. 17 some of
Mulai Hafid's men made a third raid
on the custom 'house at Mazagan and
seized 100,000 cartridges. On the fol
lowing night they made a fourth raid
on the same place and captured 200,000
The officials at Mazagan have recei7
ed information to the effect that Mulai
Hafid started Saturday for Gharab, the
district between Tangier, Rabat and
Fez. Hafid has issued a notice to the
effect that he guarantees the protec
tion of all the foreigners at Morocco
City, inviting certain foreigners who
have gone to Mazagan to return to
Morocco City and resume their busi
ness there, and ordering his represen-
tatlves . to furnish them with every
thing necessary in order to enable
V Vs r t V v Z
4C ' v , A y , ' , "
' i a. , t -v 1 5 Vr- ?
'l-r STf -.AVI-
One of the Leading Speakers at
them to make the return trip to the
capital of the south.
Ilafid is showing a strong head in
controlling certain Moorish sects
which are demanding the proclamation
of a holy war, to which he is unaltera
31ny Torture MHfl.cnu.
Some of Raisuli's followers have de
serted him and come to Tangier. The
native report of the occurrence givos
as a reason for the desertions that
Haisuli, in retaliation for the French
interference in the steps taken to se
cure the release of Kaid Sir Harry
MacLean, intends to "kill MacLean by
ATTEMPT 10 KEEP THE
CHADW1CK STORY SEALED
Attorneys for Friend and Hoffstot Rc
sist Efforts to Make Deposi
rittsburg, Ta., Oct. 22. The deposi
tion said to have been made by Cassis
L. Chadwick while she was in the Ohio
penitentiary regarding her relations
with J. W. Friend and F. N. Hoffstot,
local capitalists, is still a sealed docu
ment, and it will so remain if the su
preme court of Pennsylvania, now in
session here, sustains a motion offered
yesterday afternoon by attorneys for
Friend and Hoffstot. Arguments will
be made tomorrow. The deposition
was made in the suit of the widow of
W. C. Jutte, who is seeking to recover
$1,000,000 from Friend and Hoffstot as
part of the Jutte estate
OVERDRAWS HSS ACC0UN1?
Head of Indiana Mining Concern Held
to Be $40,000 Short.
Jasper, Ind., Oct. 22. As a result of
the examination into the affairs of thu
defunct People's State bank at llunl
ingburg, Ind., Samuel Wulfman, head
of the jlartwell coal mines in Pike
county, Indiana, was arrested and
later released on bond. It is clainiel
Wulfman overdrew his account with
the defunct bank to the amount of
$10,000. Wulfman is a trustee for the
Southern Indiana Insane hospital at
Yale Freshman 50 Years Old.
New Haven. Conn., Oct. 22. Anions:
the members of the freshman class at
Yale is Michael P. Haggorty, who
more than 50 years old. He came cast
to study law, and his wife and two
children are with him. Mrs. Haggerty
will study- elocution at; Yale. Her
husband is a prominent member of
the Western Federation of Miners.
PANIC OR mi
Nashville, Tenn., Oct. 22. President
Roosevelt reached this city from Vicksr
burg this morning and was given a
rousing welcome. He delivered an ad-'
dress in which he touched upon th?
present financial panic in New York.
In this connection he said: '
Han Beet Ai-enNed. '
"There has been trouble in the'stock
market; In the high financial world
during the past few months and the
statement lias frequently been made
the policies for which I stand, legisla
tive and , executive, are responsible
for that trouble. - Now - gentlemen;
River Improvement Meeting
Representatives of 42
States Attend Meeting
OPEN FOR FOUR DAYS
Nicholas Murray Butler Pre
sides and Addresses Are De
livered by Leading Men.
Chicago, Oct. 22. The "trust" con
ference of the National Civic Federa
tion which is to continue for four days
opened here today. About 400 dele
gates were present representing 42
states and approximately SO different
organizations, mercantile, civic and
municipal in character. President
Nicholas Murray Butler of Columbia
Other Noted Speokern.
Other speakers were Wade II. Eili?
attorney general of Ohio; A. P. An
keny of Minneapolis, Minn.; R. H.
Davidson, attorney general of Texas:
Avery C. Moore of Idaho, John W.
Tomlinson of Birmingham, Ala., C. B.
Wilbride of St. Ixniis and W. P. Ber
land of Kansas City.
TWO LEGISLATORS IN SEATS
Illinois House Makes Poor Showing
and Quickly Adjourns.
Springfield, III., Oct. 22. Just two
legislators were in their seats yester
day afternoon when the house conven
ed to take up the work of the session.
They were Representatives Oglesbv
and LaVere. After some close figur
ing It was decided that a quorum was
not present and the house adjourned
until 10 o'clock this morning.
Passed Bad Night.
. Vienna, Oct. 22. Emperor Franz Jo
seph did not pass a good night owing
to frequent attacks of coughing.
POLICIES STAND; ROOSEVELT
these policies of mine can be summed
up in one brief sentence.
Illtn SueeexMfnl DiMlionenty.
"They represent an effort to punisn
successful dishonesty. I donbt if tho3?
policies have had any material effect
in bringing about the present trouble,
but If they have it will not alter in the
slightest degree my determination
that for the remaining 16 months of
my term these policies shall be per
severed- in- unswervingly,"
Deep Waterway Convert.
Vlcksborg, Miss., Oct. 22. President
Roosevelt spoke in the court house
square yesterday afternoon. ' He Bald
WORK AT ARSENAL
Repc I of Genera! Crozier for
Year Shows 1.671 Men Were
Employed on Average.
SUM OF $1,218,288 IN WAGES
Small Arms Plant Turned Out 33,465
New 'Springfield Rifles and
Many Reserve Parts.
The average number of men em
ployed at Rock Island arsenal during
the year ending June CO last was 1,071
and- the total disbursement of wages
in that pefiod $1,218,2S8.23, according
to the annual report of General Wil
liam Crozier, chief of ordnance, just
During 'the fiscal year there were
manufactured at the arsenal 33,405
United States magazine rifles, model
of 1903, adapted for model of 1903
rear sight leaf. There were S9.930
scabbard bayonets, model of 1905, and
ammunition, all complete except the
the reserve parts for issue in time of
war for 33,405 rifles made.
The proving ground work for the
year has included the firing of a total
of 391 rounds and the proof test of 31
3-inch field guns, models of 1904 and
1905, of 30 3-Inch field carriages, mod
el of 1902, and of one 3-2-inch field
carriage converted to long gun recoil.
All guns proved were of Watervliet ar
senal manufacture. i
Itrnt from Electricity.
The sum of $2,399.13 was received
as proceeds of the rent of electricity
to privTrte parties during the year, and
$3,797.10 was left for returning to the
treasury from the $12,500 appropriate!
for the maintenance and operation cf
the power plant.
Fifty-five machines of various kind3
have been added during the year, and
28 others are under contract, for the
purchase of which funds have already
been provided. These Include a com
plete plant for the manufacture and
repair of the wooden parts of artillery
wheels and a number of additions to
the machinery in the armory shops re
quired to provide for a maximum out
put of 250 rifles per day. A special
machine has also been designed and
built at this arsenal for the manufac
ture of pasters used in target practice.
Won 11 Itepalr Bridge.
The recommendation is made that
funds be provided for extensive re
pairs to the Moline bridge across Syl
van water. This structure was built
34 years ago at a cost of $121,000, and
has received little attention, beyond
being refioored, since that time.
GETS NO NEW TRIAL
Mrs. Emma Kaufmann of Sioux
Falls Loses in Contention
LIKE THE McKINNEY CASE
Sentenced to Prison Term for Tortur
ing Servant Girl Who Died
Will Carry Case Up.
Yankton, S. D., Oct. 22. After study
ing the various document's submitted
to him to show why Mrs. Emma Kauf
man of Sioux Falls should be given an-
other trial before a jury, Judge E. G.
Smith yesterday fcverruled the motion
for a new trial. The case will at once
be appealed to the supreme court and
effort will be made to save Mrs.
from a long penitentiary
m for the killing of her maid ser
vant, Agnes Polreis.
Known an "Strange Woman."
Mrs. Kaufmann is the wife of a rich
Sioux Falls brewer. Though she had
plenty of money, she never associate
with other women of means, did not
care for reading and was called "the
strange woman." In the fall of 1905
her husband, Moses Kaufmann, toll
friends that his wife needed a girl for
housework. Agnes Polreis, the lC-year-old
daughter of an Austrian immi
grant, was recommended. Six months
later she was taken to a hospital from
the Kaufmann residence and died a
month later. Suspicion was arouse!
he would go back to Washington to aid
in the campaign of making the Missis
sippi river a deep channel in the lakes-to-the-culf
waterway scheme. He also
said the irrigation system could be ex
tended to certain parts of the south to
great advantage, and he said he would
urge on congress the advisability of
legislation for this purpose
The president arrived at 1 o'clock and
left at 5:30 for Nashville.'
Mayor Griffith, Congressman John
Sharp Williams, and General Stephen
D. Lee, the confederate veteran, were
In the party that welcomed the presI
after the burial of the girl and the
body was exhumed. The post morteto
showed six wounds on the head of th
girl ,one finger was missing and there
were bruises all over the body.
Tortured Girl. '
Mrs. Kaufmann was arrested and
witnesses testified at the trial that shs
had tortured the girl, sometimes pour
ing turpentine over her wounds. She
was found guilty of manslaughter n
the first degree, which carries with it
a punishment of not less than four
WANT TO BUY LOT
M.W. A. Directors Looking for
Site for Printing Plant to be
HAVE CONSIDERED SEVERAL
Will Take Matter Up Again at No
vember Meeting and Hope to Have
As a result of the decision of the
board of directors to establish a print
ing plant for the publication of the
official organ of the society. The Wood
man, in this city, it is likely that a
large and handsome building will be
erected in the city in the near future.
The directors are at present looking
for a site of at least 5,000 square feet.
tne understanding is that a large
structure will be constructed. A coa
siderable force of workmen will ulti
mately be employed and a prosperous
industry is to be added to those al
ready located in the city. It is stated
that a force of from 20 to 40 people
will be employed at the beginning.
The board of directors at the Oc
tober session just closed gave con
siderable discussion to the proposed
plant and efforts have been made to
secure a site adjacent to the present
Wonted Turner Property.
The property directly south woulj'
be suitable as also would be the Tur
ner hall property located to the east
of the main building on Third avenue.
When the purchase of these propertias
was proposed to the owners, a price
which the directors regard as unrea
sonably high was demanded. Though
the board desires to erect the printing
plant on an adjoining side this is not
necessary and any site between Fif
teenth and Twentieth streets and First
and Fourth avenues will be considered.
The proposition comes before the
board again at its November meeting,
and any owner of a suitable site may
possibly secure a sale by presenting
a proposition to Major C. W. Hawes
before Nov. 15. Lots larger than 5,000
square feet will be considered.
Bf Minnesota Clashes
United States Judge.
St. Paul, Minn., Oct. 22 Attorney
General Young of Minnesota was ad
judged in contempt of court by Judge
Lochren in the United States district
court yesterday and fined $100, whic:i
he refused to pay. An appeal will be
taken. Mr. Young has been remanded
to the custody of the United States
marshal. The question involved is
whether an officer or servant of a sov
ereign state can be sued. Judge Loch
ren enjoined Attorney General Young
from enforcing the commodity rat
law. Thereupon the -attorney general
brought mandamus proceedings to
compel the Minnesota railroads to re
vise their commodity rates.
PEANUT EATER BECOMES ILL
Allen Partakes of an Extra
tion" of Goobers and Suffers.
Aurora. 111., Oct. 22. Dr. T. J. Allen,
who yesterday entered upon his fourth
day of a CO days fare bf peanuts, has
lost five and one-half pounds in weight.
While reading Sunday the professor's
appetite grew so strong that he ate
more than his usual allotment of goo
bers, and yesterday morning he was
ill. The experimenter usually eats in
tne neignnornooa or one-sixth of a
pound at a meal, but he ate a ha f
pound Sunday evening. Though he
walked eight miles Sunday, the scien
tist laid his illness to overeating. He
was examined last night by his phy.
sician, Dr. E. W. Banker, and was
found in normal condition.
Pension Roll Loses Many.
Washington, Oct 22. The decrease
of 18,600 in the number of pensioners
on the rolls at the end of the fiscal
year 1907, as compared with the year
previous, is the feature of the annuil
report of Pension Commissioner War
ner. This Is the greatest decrease la
the history of the pension bureau. The
number of pensioners on June 30. 1907
- (Was 9C7.371, and the value of the pen-
sion rou nu.Bov.aau.
One or More of Aerial
in Four States.
MAKE SLOW PROGRESS
Ail Traveling Eastward, Some
Going North, Others .South
START OF BALLOON RACE.
Balloon. Country. Ascended at.
Pommern Germany... 4:00 pm
No. 3 America. .. .4:05 pm
Isle La France,..
No. 4 France 4:11pm
No. 5 Germany. ..4:15' pm
Lotus II., No. 6. England... .4:20pm
America. No. 7 America 4:25 om .
Anjou, No. 8 France 4:30 pm
Abercron, No. 9. Germany. . .4:35 pm
St. Louis, No. 11 .America. . ..4:42 pm
WHERE THEY WERE SEEN.
Reports to the Associated' Press
show balloons were sighted ' as fol
lows: At Herscher, 111., at 6:40, headid
At Stanner, 111., at C a. m .. eastward.
At Beavervllle, 111., at 6.28, south
eastward. At Danville, III., at 6:20 (two) south
eastward. At Bismarck, 111., at 5:50, southeast-,
ward. ' -
At New August, Ind., at 9:30, north,
At Prescott, Ind., at 7:48.
At Fairland. Ind., at 8:41 a, m.
At Plainwell, Mich., at ,9:45, south
eastward. At Augusta, Mich., at 10:15, northeastward.
AtSoflth Haven, Mich., at 9:'M, '"
At Union City, Tenn at 9:45, south
At Macomb, 111., the balloon . "St.
Louis" was spoken Bhortly after mil
night. Gower. Ohio, Oct 22. (9:45.)
Olivet, Mich.. Oct 22. (11:00.)
Galesburg, 111., Oct. 22. (1:40.)
Dayton, Ohio, Oct, 22. (11:25.)
Easton Rapids, Mich., Oct. 22.
Fulton, Ohio, Oct. 22. (11:50.)
Springfield, Ohio, Oct, 22. (Noon.)
Stockbridge, Mich., Oct. 22. (11:45.)
Detroit, Mich., Oct. 22. (1 p. m.)
Poor Obnerred Near Chicago. '
Chicago, 111., Oct. 22. Three balloons
passed over Gray's lake. Lake county,
Illinois, about: 11 miles northwest of
Chicago, at 1:30 a. m. It was impossi
ble to identify them One of the Amer
ican balloons was seen passing, over -Zion
City, six miles north of here, at
0:30, and was soon lost to view over
Raee of Dirigible Postponed.
St. Louis, Mo., Oct. 22. The dirigi
ble balloon races scheduled for today
were postponed until 2 tomorrow after
noon because of the inability of some
of the contestants to get their machines
in shape while the international cup
balloons had the "right of way on the
ballooning grounds in Forest park.
Bloomington. 111., Oct. 22. A balloon
passed over this city at 3 this morning
going in a northeasterly direction.
Two Seen at Watiieka.
Watseka, 111., Oct. 22. Two balloons
passed over Watseka at C and 6:20 this
morning. The first was traveling low
in a northeasterly direction, and the
other at an altitude of approximately
1,000 feet, in a more easterly course
than the first.
100,000 See tne Start.
St. Louis, Oct. 22. The start In the
international balloon race yesterday
afternoon was witnessed by about 100,-
000 people. Flying away along three
lines, as many as six balloons were vis
ible at one time, the American contest
ants being first to disappear In the
haze along the horizon.
The German balloon Jotnmerln was
the first away, the Btarl being made
just 35 seconds after the scheduled
hour, 5 o'clock. The other contestants
followed at intervals of 5 minutes. . Aa
each was sent away the crowd broke
into cheers and until they were well
out of view the occupants of the bask
ets were kept bowing and waving their
hats m acknowledgement of the dem-
onstratipns of good wishes and good