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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 15, 1906)
C!!l VOL. XXV- 2s0. 14,073. PORTIiAOT, OREGON, MONDAY, JANUARY 15, 1906. PRICE FIVE CENTS. S3 STICK EXCHANGE iD RILL WARNING Prior's Crooked Work Known for Year, CLERK GAVE THE INFORMATION Robbed of Notebook Later by Broker and His Friends. TELEPHONE WIRE LEASED Buckclshop Operations Carried On Long Time at Cleveland, Until llisk of Detection Be came Too .Great. CLEVELAND. O.. Jan. 3 4. (Special.) Through correspondence made public tonight by C W. Hcaton. a former employe of the brokerage Arm of Den n i son. Prior & Co., It was shown that the New York Stock Exahangc was notified over a year ago of "bucketing operations of L. W. Prior, the broker who -committed, suicide Tuesday. Heaton notified C. I. Hudson ard V. W. Hoaton, New Yorirbrokeraj and Charles L. Burnham, assistant .socrotary of Ahc New York Stock Exchange, of Prior's dealings. Heaton visited Now York in January. 190i. February 23 of that year he wrote to W. W. Hcaton, of the firm of Day & Hcaton. Now York, telling him of Prior bucketing orders and saying he would give evidence. Xcw York Broker 'Replies. In March, Mr. Hoaton "received the following reply? "I have your letter of February 20 and shall put the matter in the hands of proper persons. Of course, if the matter is taken up by the Stock Ex change, we would expect you or some other responsible person to appear In the niattor. "WILLIAM HEATON.". On March C, Mr. Heaton again wrote to "W. W. Heaton, telling him if he could not go to New York he would forward an affidavit covering the facts in the case. It is evident that W. W. Hcaton placed this information before the board governors or other authorita tive committee without delay,' as the next letter will show: "New York Stock Exchange, secre tary's office. New York, March 20.-T-C "V. Hcaton, Esq.. Cleveland: Dear Sir I am instructed by the committee of arrangements of this exchange to say that if you so desire you may send them the Information referred to in your communication of February 23. tilt., and March 6. ilist.. addressed to Mr. TV- W. Heaton, iff this exchange. "CHARLES L. BURNHAM. "Assistant Secrotary." 3Icmornnduni Book Stolen. Mr. Heaton then wrote Burnham on March 28. stating that ho had been assaulted by Prior and his frionds. who had taken his memorandum book cov ering Prior's bucketing transactions. He then says: "Having lost this, therefore, I am unable to give all names, dates and stocks involved in scalping operations, but am ready to affirm by affidavit that during the year 390.1 (according to the telephone company's records), the firm referred to had n wire leased to Akron, O.. between May C and July 3; that I operated it; that, acting under orders of my superiors. I filled numer ous orders from the stock tape placed before mc immediately upon quotation appearing at which order was placed. Becoming particularly dangerous, this service was abandoned." IMlTOn'S SAFE "WILL NOT OPEX Experts Have Been Working on It for Three Days. CLEVELAND, O.. Jan. 14. Regarding tho total liabilities and assets of the firm of Dcnison, Prior & Co., and the chances for a distribution for tho creditors, a member of the "bankers committee to night made the following statement, based on Information gleaned from the books up to the close of the examination Saturday: "The Indicated liabilities of the firm, aside from the forged bonds known to be outstanding, will amount to $$00,000 or more The indicated assets are between $400,000 and $300,000. There will be a loss to the creditors of $500,000 according to the outlook and tho information in the hands of the committee. In addition to this, there arc bond frauds amounting to $700. 000 already known, so that 'the combined deficit will be from $1,230,000 to $1,500,000. -"The private safe of Mr. Prior has not been opened, notwithstanding that efforts have been made to do so for the past three days by the bank experts and ma chinists. PRIOR FORGED MAXY BONDS Career of Suicide Was One of Sen sational Crime. Lnland W. Prior, one of the best known men in financial circles in, Cleve land and junior member of the stock brokerage firm of Denison, Prior & Co., committed suicide Tuesday, Janu ary 1. All during the previous day ho appeared nervous and paced up and down the corridor of the Hollenden Hotel. Ho was visited by. one of -tae members of the Arm and held a long conference with him. a short time af terward killing himself. George B. Deaison, of Boston, senior member of the firm, at once came to Cleveland and closed the business pending an in vestigation. A bankers' committee was formed to 'investigate the condition of the sus pended firm, and found irregularities at once. It was found that municipal bonds and other securities had. been forged. This fact had boon discovered before Prior's death and Interested par ties had demanded an explanation but Prior had refused, telling his question ers that if they persisted he would take the information where no power could wrest it from him. It was later found that Prior had forged bonds on the cities of Canton, O.. South Sharon. Pa. and Alpena. Mich., amounting in all to more than $700,000. The total debts of Prior when esti mated were found to aggregate more than $1,200,000. Through them several firms were forced to suspend. fst. Paul Broker Suspends. ST. PAUL, Jan. H. James A. Doran. dding business as a broker under the firm name of James A. Doran & Co.. an nounced his suspension tonight. Mr. De rail says his liabilities will exceed $200,000. The failure is attributed to the Ann's having been on the wrong side of the stock market. INSURGENTS ARE ROUTED GENERAL CACERES IS VICTORI OUS AT SANTO DOMINGO. Governor of Monte Crist I and Gun boat Independence Will Surren der if Promised Safety. CAPE HAYTIEN. Haytf. Jan. 14. A sanguinary and what probably will prove to bo the final battle has taken place near Guuyabin, between the troops of General Caceres, the tempo rary President of Santo Domingo, and the Insurgents. The former were vic torious. Several Generals on both sides were killed or wounded. The gunboat Indepcndcncia. which recently went over to the insurgents, intends, on the advice of ex-Presldcit Morales, to return to Santo Domingo and surrender. If the government gives a guarantee of the safety of its offi cers and crew. It Is also expected that the Governor of Monte Crist I will fol low the advice of General Morales and surrender the place, provided the nec essary guarantees as to safety arc glx'en. MORALES IS VERY GRATEFUL Fugitive President or Santo Domingo Talks on Country's Future. SAN JUAN. Porto Rico. Jan. 14. While stretched on a cot in the hospital here today. General Carlos F. Morales, cx Prcsldent of Santo Domingo, who arrived here yesterday on the United States gun boat Dubuque, requested the Associated Press to convey to the American people, particularly President Roosevelt and others of the authorities at Washington, the expression of his sincere thankful ness for the assistance accorded him while President of the republic. "The future salvation of Santo Domin go." he said. "Is dependent entirely on the ratification of the pending conven tion by the United States Senate and Congress of Santo Domingo. I believe that the majority of the people of the republic agree with me in this, as they all know that the continuance of the rev olutionary agitation means continual ruination. General Caceres (the tempo rary President) now indorses the conven tion, as do the revolutionists. "The immediate future of Santo Domin go is obscure. It is vary probable that the disturbed conditions will continue, as the Caceres government represents a minority and will be unable to guarantee the safety oW life and property." The General says he Is satisfied that he has worked for the welfare of his coun try to the best of his ability. He is In good spirits, though ,hls face indicates the trials he has endured during his strenuous experiences of the last few months. His broken ankle was the result of a parting of a rope of vines by which he was trying to climb a precipice, and was not caused by a fall from his horse, as has been reported. The members of General Morales' fam ily will arrive here this week. CONTENTS TODAY'S PAPER The Weather. TESTRRDAVS Maximum temperature 42 og.; minimum, TA drg. Precipitation, 0.23 inch. TODAY'S Occartoiml rain; winterly wlndc. l'rrlgn. Moroccan Minister arrive at .MsHran to take part in international conference. Tape. 2. ItrltlMi free-tradm are rejolclnit ovnr the ds fent of Balfour at Maneheter. Page 3. Diplomatic relation between France and Vene zuela are broken off. Pace 3. General Caccren win deeMve battle with Santo Domingo Insurgent. Page 1. Hufwlan radical pre is moot pehnlMlc as to outlook, for Internal peace. "Page 4. Domestic. New York stock exchange had notification a year ago of Prior!! buckclshop opcraUons. Pago 1. Marshall Field, of Chicago. In probably on Ills death-bed In New York. Page 1. Sixty passengers of the Htranded ateamer Cherokee arc taken off In small sloop. Pace 1. liutlnou rcw on unmanageable vesKl in Atlantic Page 1. National. Weakness of United States Army transport re&ources are shown by the General Staff. .Page 3. An appropriation of $500,000 may be made for the Columbia River Jetty. P8ge 4. fongrr. The merchant marine bill Is the unfinished bunlness before the Senate; Pare 2. Senator Dryden will Introduce Ills insurance bill in revised form. Pace 2. Taelflc Coaitt. Dr. "VVaton hi removal a auperinten. dent of Vancouver Is due to political In trigue. Page 4. Portlnd Pilgrims have pleasant first day journey, j-age it. Shipwrecked pascngeffc of Kmger arc res cued by tug Sea Foam. rage 7. State Senator E. V. Carter, of Ashland, ban a plan for a xtate banking law. Page 1. 8 port. Seattle expected to stay In Pacific Coast Baseball League Page 10. Portland and Vicinity. Council may probe the ga graft. Page 8. Sheriff IVord'n big rake-off exposed. lage S. Farmers will have rural telephone. Fage S. Dr. "Wilson says proposed amendment would kill local-option law. Page 13. Mayor Lane angry that any escaped in the raid of Richards' . Fage 14. Creed are an obstacle, declares Dr. Saiall. Page IS. V. V. Rand held up while oa the way to visit friend. Pace S. Sheriff Word's Republican deputies will work for Iubu FAge 13, FROM FARM BOY TO MILLIONAIRE Marshall Field Never Borrowed Money, or Gave a Note or Mortgage. ON DEATH BED IN NEW YORK Career of Modest 3fcrchant Prince, of Chicago, Who "Was Recently Married to Mrs. Arthur -Caton in London. DYING. OTtOM TNKU.MONIA. NEW YORK, Jan. 14. The condi tion of, Marshall Field, of Chicago, who has been 111 for several days at a hotel In this city. 1 worse tonight. The pneumonia Is not yielding to treatment and the patient Is greatly exhausted. The following bulletin wa issued at 11 P. M.: "Mr. Field has lost ground daring the day and the outlook is loss favorable. (Signed) 'Walter B.' Jamc. E. B. Janeway, Dr. F. A. BIIMngs." , The most critical stage or Mr. Field' illness probably will come to. morrow, the pneumonia having de veloped about four days ago. Mrs. Fickl. wife of tho Chicago merchant and Stanley Field, his nephew, re ntals hopeful. What was regarded as a. jJgnlneant Incident today was the arrival from Chicago of William G. Beal. Mr. Field's personal counsel and law partner f Robert T. Lincoln. Mr. Beal hastened to the hotel and was conducted to the sick chamber. Drs. James. Janeway and Billings all re mained with Mr. Field tonight. CHICAGO. Jan. 14. (Special.) Marshall Field, merchant prince, was born on a "farm near Conway. Mass., August IS. 1S35. and it is estimated conservatively that his wealth aggre gates $100,000.0.10. Some calculations make his fortune nearly $150,000,300. Mr. Field paid taxes on tflO.O00.O0O worth of property Inst year, of which S30.000.000 was real estate and $13,- 000.000 personal property. Two mil lion dollars is the estimate put upon the personal properly ovf '"MiC ' Field in his Prairie-avenue home, which contains many valuable paintings. The total number of employes on his pay roll is clone to 10,000. , Mr. Field is one of the modest and retiring millionaires and mcrchita In the world. He docs not care for public life nor is he a frequenter of clubs except for business conferences. Mr. Field was reared on a New Eng land farm. His birthplace is Conway, Mass., and he was born 71 years ago. His boyhood days were passed among the hlll roundabout his little home town. The life and the air and free dom made him strong, but the hills could not bound his ambition. Found Himself at Seventeen. Educated at the public schools and academy at Conway, he "discovered" himself nt the age of 17 years. He found himself equipped with brain, brawn, sturdy ideas of honor and plen ty of ambition. Backing up the ambi tion was a rare oncrgy. This was the capital that wont with him when he quit the fields and went to Pittsflcld, Mass., to begin the career which was destined lo develop him into the great est rctnii merchant in the world. In 1S56, he came to Chicago whlck. then had a population of 3S.030. St. Louis was then the "Western metropolis but young Field studied the map and do cided Chicago was Ills place Cooley4 Farweli & Co. engaged Mr. Field as clerk. As In Pittsflcld, he olthcr would or could not stay a clerk and In four years he was made a member of the firm. Five years thereafter, in 1S6S. tho firm was reorganized and Levi 'A. Lol tcr and Potter Palmer became asso elated with Mr. Field. . Heavy looser In Bis; Fire. Potter Palmer- withdrew after two years and Mr. Lciter in 1SS1. It was in that year the .firm of Marshall Field &. Co. came Into existence. Mr. Field was one of the sufferers by the fire of 1S7I, when the State-street retail store was destroyed with a loss of $J,5CO,ttJ. He It was who conceived, the Idea of doing business in a street-car barn until new quarters could be built. For the making of millionaires the mer cantile enterprises in Chicago with which Mr. Field has been connected hold the "Western record. Not fewer than ten men have retired after amassing fortunes from 52.OW.000 to $2O.OM0O. Here is the list with dates of retirement: Potter Palmer, retired 1853: Levi Z. Inciter, retired 1SS1; Henry J. "Willing, re tired 1BS1; Lorenzo J. Woodhouse. re tired JSW); John J. McWilHams. retired 1900;- Thomas Tcmplcton, rotlred ISO): Harlow X. Illginbotham. retired 1001: Harry G. Self ridge, retired 1001; Robert M. Fair, retired 1P03. STcvcr Borrowed Money, i It has been said by Mr. Field's clo.cst business friends that he never borrowed money, never gave a note or a mortgag;. . never dealt in margins on stocks or grain, always bought goods for cash, sold on short time and narrow margins, and In slsted to the last letter on the fulfillment of every contract between himcelf and his customers. Mr. Field was catholic in his tastes. In his beneficences and in his business. A Presbyterian by training and choice, he gave a large tract of ground for the Uni versity of Chicago! a Baptln institution. In his native home of Conway he built a beautiful public literary costing ?1W,- EVENTS OF THE COMING WEEK. Among the world's happenings for the coming week the most Important is the Moroccan conference, which will assemble on January 10 at -Vised r as. Spain. Eleven European countries and the United States .will send representatives. Henry White, Ambassador to Italy, and Samuel R. Gummere. minister to Morocco, will represent the United States with Cewls Einstein, the third secretary of th London embassy, as secretary of the American mUslon. France and Germany are the two most Im- . portant factor In the conference and the attitude of their representatives will be followed closely. Although it is yet to be decided whether the decisions of the conference must be unanimous, the balance of power Ilea with the other nations, so there is every reason to hope -that conserva tism will govern the outcome of the negotiations. In Great Britain the general elec tions will continue. Saturday's de clrfon?. however, which showed such unexpected Liberal gains, make It a foregone conclusion that the gov ment will have an ample working majority. The election of a Hew president of the French Republic will be coinci dent with the convening of the French National Assembly of Jan uary 17. This assembly is made up of the Senate and Chamber of Depu ties. President Loubet has stated that he will net be a candidate for re-election, which seems to leave the choice between Clcmont-Armond Falllcrcs, the newly .elected presi dent of the Senate, and M. Doumer, president of the Chamber of Deputies. The former's chances apparently are considered best, but Premier Rouvler also has a following which may de velop In the balloting. In spite of President Loubet'a announced inten tion, however, not to become a can didate for re-election, it is possible he may reconsider the matter. January 1 the anniversary of "Red Sunday." In Su Petersburg, but preparations have been made to cele brate It this year on January 21 and 22. Intense Interest is felt in tjie manner In which the people will commemorate the day, for it will show to what extent the Russian government has succeeded In restor ing quiet. The Workmen' Council have called a general pacific strike for January 22. and there will be parades and meetings in memory of the day. Among the conventions for the next week the most Important are: The second National conference on primary election and ballot reform, to be held in New York beginning January' 1?. at which time primary election reform, ballet reform and corrupt practices acts will be dls cued. The United Mlneworkcrs conven tion, which meet In Indianapolis January . will consider an adjust ment of wage scales which affects at least .V0.000 miner.' throughout the eeuntry. The America Vr&fectlvc Tariff League will hold Its annual meeting In New York January 1J?. K. To Chicago he gave the Field Co lumbia Museum. When Grant Park .is finished on the lake shore he will erect a marble palace and Install In it the most extensive museum in the world. For this building and its contents alone, it Is understood Mr. Field will give ?10.0',0'. Members of Ills Family. Mr. Field married Mrs. Arthur Caton a few months ago in London. Other .mem bers of the Immediate family are; Mrs. Marshall Field. Jr.. whose husband came to a tragic end by accidental shooting In November last, and her three children. Marshall Field third, Ilcnry Field and Gwendol5n Field. The Field name will be perpetuated by these boys, who will inherit the most of the immense fortune. Yaqui Stories Bring; Jtctullntlon. EL PASO. Tex., Jan. II. Because of the slander of foreigners who alleged they had not been given proper protection from alleged Indian outrages In Sonora and Ix)wer California, and, owing to the circulation of such stories, the Mexican government has issued an order forbid ding mining agents in those states to al low foreigners to file mining claims. This is the outgrowth of the circulation of al leged Yaqui stories in the-United States by prospectors. r .. i I : n l y(Vk - I SW&fe'fy HIIIIIBHWfe" jslssssssssssHssssssssH I ? MARSILLL FIELD. SAFETY FOB THE BANK DEPOSITORS Compulsory Publicity Would Force Radical Change in Investment of Funds. SENATOR CARTER'S VIEWS Southern Oregon Capitalist Shows the Xecds for Supervision of State Banks and "Regulation . in the Use of Money. ASHLAND. Or.. Jan. It. (Special.) Supervision of state banks by a state bank examiner and regulation of their use of the people's money by a new law are statutory needs in Oregon, pointed out clearly by E. V. Carter, of this city. State Senator, cashier of the Bank of Ashland, director of the First National Bank of Mcdford and presi dent of the Statu Bank of Dunsmulr, Cal. Like other active bankers who "nave been quoted in The Orcgonian in advo cacy of a state banking law, Mr. Car ter says that such an enactment would protect not only the public but also honest banks which realize tbeir re sponsibilities to the people and ab stain from the practices of unscrupu lous rivals. "It cannot be denied that compul sory publicity," suys Mr. Carter, "and evon a mild supervision would force a radical change in the investment of funds, insuring thereby a greater safety to depositors and promoting that confidence which the public must feel in its banking institutions, if the country's business is to" move undis turbed along the. even tenor of its way." Indifference of Legislature. Mr. Carter detailed his views of the matter as follows: "In a desultory way, the question of a state banking law has been raised at intervals for years past, and I hope, now that the matter has received more general attention, and particularly on the part of The Orcgonian, that tho agitation will create sufficient Inter est throughout the state to demand aetioit on the part of our Legislature at its next .session. During the cessions of 1303 and 1905 I frequently discussed the question with members of the Leg islature and others. The members gen erally scorned Indifferent, while from other quarters came decided expres sions of disapproval of any attempt whatever to regulate or direct the management of the" banking business. "I believe that with many the oppo sition to a bill of this nature was due lo the fear that it would embody ex acting and unreasonable conditions and restrictions and entail a burden some expense upon the business. Others took the position that the .public had no right- to any information other titan that which the bank management chose voluntarily to impart to its patrons. Cleans a Iladical Change. 'That this latter belief Is shared by sonic bankers who are conducting busi ness along perfectly legitimate and consJcrvative lines is without doubt true, but it cannot be denied that a compulsory publicity and even a mild supervision would force a radical change in the investment of funds, in suring thereby "a greater safety to de positors, and promoting that confi dence which the public must feel in Its banking institutions, if the coun try's business is to move undisturbed along the even tenor of Its way. "It is admitted that financial dis turbances resulting in the failure of banking institutions are many times brought about by suspicion on the part of the public that there has been mis management or dishonesty on the part of those in charge. At times these sus picions were groundless; but again, when- the mismanagement or dishonesty actually existed, in many instances, it would have been prevented by a bank ing law requiring public statement of conditions, prohibiting excessive loans, demanding examination by competent" agents, and affording such additional safeguards to depositors and the pub lic generally as has been shown by ex perience to be effective. . Making of n Banking Law. "In the framing of a state banking law. we may be guided by the experi ence of other states, which have had similar laws in force for many years. Many features of the National banking act may be adopted with profit. With out attempting to give in detail my Idea as to ail the features that should be incorporated in a law governing state banks. I mention the following which 1 would consider as essential: "Sworn statements of conditions should be furnished to state officials not less teian three times per annum. the date covered by the reports to be prior to the call for the said reports, as under the National bank act. These reports should detail the character ot the loans carried by the banks, the amounts advanced on the different classes of security, the amount of in debtedness of the officers and stock holders of the bank with which they are associated, etc. Again, following the National bank act, these reports in a condensed form should be pub lished In the local newspapers for the Information of those doing business with the bank. Duties of Bank Examiner. "The law also should provide for a bank examiner, whose duty It should be to make personal inspection of the affairs of the bank, say twice each year, tiling his report with the proper state official. There should be restric tions as to the percentage of capital and surplus that the bank should be allowed to lend to one man or firm, but in this respect it should be more liberal than .the National bank act. as there Is perhaps not a National bank in thl3 state but that at times makes loans In excess of the 10 per cent per xnittcd. "Loans upon real estate should be authorized with perhaps some restric tions as to amounts so placed. No loan should be allowed an officer of the bank without approval of all the directors of the bank, and banks should not be allowed to lend on their own stock issue as security. There should be. of course, the necessary penalties' pro vided for violation of any of the provi sions of the act. and provision should be made for taking charge of, and liquidating the business of any bank found insolvent. All expenses incurred under state bnnkVig laws should "bg1 borne by institutions operating there under. Some Law Should Be Passed. . "This is but a rough outline off a banking measure, and there are prob ably other important features, as I know there are those of lesser Import ance, that should be considered. That there will be a difference of opinion among the bankers as to just what measures should be incorporated in a law of this nature, is to be expected. but as to the necessity of some law, It seems to mc the feeling -should be unanimous". "Now while all are prosperous is a propitious' time for the enacting of a law of this nature, giving all affected thereby ample time and opportunity to conform to the." new conditions. I believe the banks of this state are in a healthy and prosperous condition and as a rule conservatively managed. "As bankers, wc ask the public to confide in us. Its confidence is ab solutely necessary to our prosperity. In return Is It not Incumbent upon us cheerfully to furnish such information as in some degree at least will enable the public to determine whether or not tills confidence Is misplaced?" CAPTAIN' OX HELPIiESS VESSEL- HAS MUTINOUS. CBEVV. In Peril of Men lie AVonld Not Permit to Leave, Muster Dare Xot Sleep. NKW YORK. Jan. li. The Ameri can line .steamer St. Paul, which ar rived tonlghj ,Jrfrom Southampton and Cherbourg, brought Captain 5 bncpard and crow of Icemen from 'the bark Ed ward May'berry, which was abandoned at sca; December 15,' when 250 miles cast of Cape Hatteras. The men of the Mayberry's crew were rescued by the American bark Stalia and were landed at Havre. According to Captain Shepard. his crew for four days was in mutiny. When the Maybcrry became unmanagC' able on December 10, the crew collect cd a butt-jjf water, some pork, flour Uand beans and carried therrr to the top of tho deckhouse. Later four of the otficera declared they were going to desert tho ship. Captain Shepard pulled his revolver and announced that he would shoot the first man who attempt ed to take the boats. , "The night of December 12," says Capta.'n Shepard. "I knew they had decided to murder me. They continual ly followed my movements, keeping as near me as possible. I did not get a wink of sleep, but sat and watched them as best I could, revolver in hand. You can imagine our position when I tell you thnt the sea was continually making a sweep over us." December 1-t they were reduced to one small bottle of water and this the captain guarded. December 15 in lati tude 36.03, longitude 71.15 they were sighted by the Stalia, bound from Hon duras to Havre. The vessel came near the bark apd the captain signalled that it was too dark for a rescue but that he would stand "by during the night. The morning of December 16 they were taken off. RESCUED FROM A SEA-SWEPT SHIP Passengers on the Stranded Cherokee Spend a Night in Great Terror. TAKEN OFF IN A SLOOP Hundreds of People on Xcw Jersey Bench Wntch Perilous Trips Made by Small Craft Bringing a Few at a" Time. ATLANTIC CITY. N". J., Jan. 11. After spending 24 hours in terrible anxie ty, lest they be wrecked and swept Into the sea, the passengers and crew. GO In all. of the Clyde line steamer Cherokee, bound from San Domingo for New York, which went a-ground on the brigantine shoals Friday, were rescued Jatc this afternoon and landed at the inlet here. Captain Archibald, two mates, and tho ship's carpenter elected to remain aboard the steamer. The rescue was accomplished by Cap tain Mark Casto and a picked crew in the sloop-yacht Alberta, and their experience was almost as thrilling as that of the strangled passengers. More than a thou sand persons viewed tho storm-tossed sea as the sloop sailed into the inlet with the report that all hands were safe. When the Cherokee ran Its nose into the sand Friday there was no fear for the safety of the vessel and those on board. The steamer was light in the sand, and It was expected she would be floated at . high tide. Some of the passengers be came a little anxious and wanted to be landed, but this the Captain could not permit, so all hands decided to make the best of It. Fog Shuts Ofr the Shore. During the night a moderate northeaster set In. sending the vessel deeper into tht sand. Daylight Saturday found the storm in full blast. A heavy rain set in. and later in the day a fog settled down and the vessel was lost to view. The wind rose until it reached a velocity of 33 miles an hour, and the passengers and crew had to leave the deck. A signal from the steamer reported all hands on board at dawn today. All during the night the life guards of tfie. .thref stations watched for a slight modcraUpn of the storm, but it did not come until noon, when there was a per ceptible fall in the wind. The lifesavers deemed it folly to attempt to go to the steamer in the sea that was running, and it was decided to send twy men in a launch. This was done, and when it was about to go over the bar at the mouth of the inlet, the launch's rudder became dis arranged. Another launch was sent out and brought back the two men and the disabled launch. Little Sloop Ventures Out. Then it was decided that the stanch sloop Alberta, with Captain Casto at the ' helm, and a picked crew, should make an attempt to reach the Cherokee and if pos sible take. oft those on board. The Al berta got over the inlet bar in safety, and then went pitching up the coast to ward the stranded steamer. Her progress was followed by hundreds of persons with marine glasses. When abreast of the stranded steamer the sloop put about and came to the leeward. A small boat was launched, and several of the crew made the perilous trip to the steamer. They found the passen gers and most of the crew in a terrible state of anxiety. The women were weep ing and the men were pleading that something bo done. Captain Archibald and Captain Caste decided to make the attempt to tranter, the passengers. Though terribly anxious to be released from their perilous posi tion, some of the passengers feared to make the trip in the small boat. At the time the sea was rough, with a fairly stiff wind blowing. The first to leave th fiteamer were a Syrian woman and stew ardess and the Syrian's daughter, who were lowered to the little boat by means of ropes. Sixteen different trips were made by the little boat between tho steamer and the rescuing yacht. Slow and Perilous Rescue. Only four or five were taken at a time, and after nearly two hours work all but the captain and three of his crew were safely on board the Alberta. From the shore of Brigantine beach hundreds watched the rescue, while away oft at the Atlantic City Inlet a number of men with strong glasses kept the anxious crowd there informed of the progress of the rescue. A great cheer went up when it was an nounccd that the Alberta, loaded with people, was leaving the steamer. It did not take the sloop long to make the run to the Inlet, where the passengers and crew were congratulated on their safe landing. Most of them were In an ex hausted condition, not having had any sleep for -IS hours. Agents of the com pany took charge of the party, sending all the passengers and crew to hotels. They were furnished with dry clothing, and. physicians prescribed for those who suffered most from the terrible experience. Terror of the Passengers. Among those landed was Lieutenant H. M. L. Walker, formerly of the United States cruiser Yankee, who was returning to Washington -from Puerta Pfata. He said the scenes aboard the steamer were heartrending. All the passengers: and some of the crew, he said, wero filled with fear, ilie women prayed and the men paced to and fro, believing that the great waves that were washing over the hapless vessel would tear her to pieces. All of Saturday night and Sunday morn ing the passengers and crew were huddled (Concluded on page S.)