.7
VOL. XLVI NO- 14,627.
PORTLAND, OBGGOX, FRIDAY, OCTOBER 25, 1907.
PRICE FIVE CENTS.
BANKERS CHECK
PLAGUE OF FEAR
Runs Continue, . But
Failures Cease.
MORGAN SAVES STOCK MARKET
Forms Poof to Lend Money at
Moderate Rate.
RALLY QUICKLY FOLLOWS
Rockefeller Also Pours $10,000,.
000 Into Gulf Total of $100,
000,000 Contributed to IMs
tressed Banks and Brokers.
SBW YORK. Oct. 54. As a result of
today's developments In the financial
world, there Is every Indication that' the
crisis In the banking and trust company
situation has been safely passed. The
Trust Company of America all through
the day's banking hours, paid out money
to depositors as rapidly as possible and
closed with all demands met The com
pany received over Its counters In the
morning hours In ordinary deposits more
that Jl.000.000.
The day was marked by three note
worthy episodes. First and earliest in
the day came the announcement of
trouble In three minor state banks In
Harlem the Hamilton Bank, the Twelfth
Ward Bank and the Empire City Savings
Bank. These banks transacted only a
neighborhood business and their suspen
sion of payments was absolutely with
out significance as bearing on" the gen
eral situation. State' Bank Examiner
Judson declared this afternoon that all
three were solvent and that their de
positors would lose nothing.
The second episode was a run begun
upon the Lincoln Trust Company. At the
close of the day the company's officials
announced that they were fully able to
meet all obligations.
Morgan Stay Slump.
By far the most notable, even dramatic
episode of the day was the emptying of
money Into the Stock Exchange through
a pool headed by J. P. Morgan and other
financiers In order to avert a ruthless
selling out of stocks. The effect of the
money stringency was to run the rate
-for money up to 100 per cent and, when
that figure was Quoted, an extremely
sharp decline resulted In the stock mar
ket. Union Pacific, a 10 per cent stock,
sold down to par.
At the time the excitement was at its
height the announcement was made that
a pool had been formed, with J. P. Mor
gan at Its head, to come to the rescue of
the brokers, for it was necessary to pro
vide funds at once in order that they
might carry Btocks they were holding for
their customers. The effect of the relief
measures was instantaneous and the rate
for call money dropped from ,100 per cent
to 10 per cent. When the Stock Ex
change closed, every one was getting all
the money he wanted.
The aggregate amount of money which'
has been contributed to weather the
storm and restore confidence assumes
really colossal proportions, in all con
siderably in excess of J100,000,000.
All Banks Are Solvent.
Clark Williams, the newly appointed
Btate Superintendent of Banks, tonight
made public the following statement:
"So far as I haver been able to learn
during the short time which I have had
to examine into the situation, I find all
the banks under my supervision in this
city to be solvent; and only rash and un
reasonable demands on the part of the
depositors will further endanger the situ
ation." POTJR MONEY IX, DRAW IT OUT
Bankers" Race With Depositors.
Morgan Saves Stock Market.
NEW YORK, Oat. 24. The run on
the Trust Company of America was
continued this morning. As early as 8
o'clock a little knot of persons had
gathered In front of the company's
main banking-house In Wall street,
and at 9:30 about 1500 were In line. At
the company's branch at Broadway and
Ann streets, formerly the Colonial
Truet Company, there was' another
crowd. In the first half hour of busi
ness mors money was deposited than
was withdrawn. The deposits up to
10:30 A. M.N amounted to $900,000.
There was a meeting of 20 presidents
of trust companies at the office of tha
Union Trust Company and soon there
after large supplies of currency were
sent over to the Trust Company of
America.
The run on the Dollar Savings Bank.
In the Bronx, which began Tuesday,
continued today. Nearly 800 depositors,
watting for an opportunity to withdraw
their savings, were lined up outside the
building when daylight came. Many
of them, a majority of whom were
women, had stood In 11ns all night. A
large percentage of the Dollar's de
positors are foreigners.
Rockefeller Lends $10,000,000. '
John D. Rockefeller deposited $10,
000,000 with one of the city's oldest
trust companies, to be used In ex
tending aid to such trust companies as
might require It. Bankers and brokers
having in charge the placing of loans
for John D. Rockefeller were instructed
to take all loans at the rate of 4 per
cent.
The National City Bank placed
12,500,000 on the floor of the Stock Ex
change to be loaned yesterday In $60,-
000 lots at 6 per cent.
Secretary Cortelyou at . 11 o'olock
said: "Things' look pretty good now.
1 have bad word of the suspension of
the two Harlem banks,' but prefer to
make no comment on It. I .will remain
here some time longer how long I can
not say. I would have had to be fh
New York today anyway. The rumor
that we were short of small bills is un
founded. We have $10,000,000 In small
denominations."
The Subtreasury" received $10,000,000
in cash from Washington today.
Stock Market Again Weak.
The stock market opened buoyant under
the improved tone. In the later dealings
weakness developed, due to the fact that
the brokerage houses were reducing their
lines of stock carried on margins on ac
count of the tightness In the money mar
ket. Call money was still in urgent de
mand. There were violent feverish rallies
following the decline, Union Paclflo ris-
I
Stuyvesant Fish, Who Has Blocked
Harciman's Control of Illinois
Central Railroad.
lng two points in a few minutes to 106.
Prices jumped a full point in some cases
between sales. Northern Pacific rallied
4. Amalgamated Copper also rose 3Vi
from the lowest.
Morgan Saves the Day.
The number , of brokers Beeking loans
continued very large during the day and
the supply of funds was very scarce until
the loaning pool began to operate, and
decline In special stocks were violent on
this account, but the general, list became
quiet. Just before J o'clock call moi -y
was loaning in small lots at from 50 to TO
per cent.
At 2:45 o'clock, after the announcement
that a pool h,ad been raised, call money
was lending at 10 per cent. The pool
loans made amounted to about $25,000,000.
There was an unusual scene at the clos
ing hour. The trying day having passed
without serious difficulty, the brokers
gathered in the center of the big ex
change and gave three cheers for J. P.
Morgan, whose action In forming the
money pool had turned the tide at the
moment when prices were ebbing with
alarming rapidity.
At the close of the market there was a
buoyant rise In United States Steel se
curities, the common shares rising l'hi
over last night, the preferred 1, and the
Binklng fund bonds 1H-
ji 10 o'clock prices on the London ex
change showed considerable strength
among American securities, v Union Pa
cific was up 2, Baltimore and Ohio 2.
Atchison ZM, Southern Pacific 2, Amal
gamater Copp-r 1," U. S. Steel and Erie .
Governor Hughes' prompt appointment
of a new superintendent of banks in the
person of Clark Williams, a prominent
banker here, to fill an office suddenly va
cated this week, and the steps taken to
have the Knickerbocker Trust Company
resume business are other satisfactory
signs.
THREE SMALL BANKS SUSPEND
Hamilton Caught In Ilelnze Whirl.
Two Others Give Notice.
NEW YORK, Oct. 24. At 9 o'clock
this morning It was announced, that
the Hamilton Bank, which has Its place
of business in One Hundred and Twenty-fifth
street, had decided to Buepend
payment, pending the complete res
toration of public confidence. A notice
posted on the bank's doors declared It
was solvent, but. suspended payment
In Justice to its depositors until confi
dence In banks is restored.
E. R. Thomas, who was associated
with F. A. Helnze and Charles W.
Morse In several banks and financial
ventures, was president of the Ham
ilton Bank, but resigned after the
break in U. S. Copper stock, which
marked the beginning of the recent
financial troubles in this city.
Orlando F. Thomas, brother of E. R.
Thomas, also recently resigned as a di
rector, and William R. Montgomery was
elected president. The bank has a capital
stock of $200,000 and deposits of about
$7,000,000. It has- four branches in this
city. The Hamilton Bank is not one of
the largest Institutions in the city. Its
location In Harlem gave it quite a good
neighborhood business, but it never was
in any way a representative New York
bank.
The Twelfth Ward Bank also suspended
payment to depositors today. It is a state
institution, and a state bank examiner
will be placed In charge of Its affairs.
According to a recent- statement, the in
stitution owed depositors about $8,000,000, -
The Empire City Savings Bank, located
at 231 West One Hundred and Twenty
fifth street, posted a notice this morning
announcing suspension for 30 days, under
the banking laws. The officials of the
bank declare that the Institution is finan
cially solid, but that they desire to avail
themselves of the 30 days' notice of
withdrawal under the state law because
they feared a run owing to the suspen
sion of payment by the Hamilton and
Twelfth Ward banks. In the same neigh
borhood. The Empire City Savings Bank,
.Concluded on Flu C
DEATH IN WAKE
OF
E
Five Hundred Perish in
. Italian Temblor.
CALABRIA SCENE OF TERROR
Cowed People Make . Beds in
Driving Rain.
ENTER ONLY CHURCHES
Bodies of 200 Victims Are.Recov;
' ered and Disaster May Equal
That of 1005 Ancient
Cathedral Destroyed.
ROME, Oct. 24. Horrible loss of life
resulted from the earthquake shocks
that occurred throughout Calabria yes
terday. At first It was thought few per
sons had perished, but later reports add
to the mortality list.
At 6 o'clock this evening about 200
bodies were taken from the earthquake
ruins. It is now 'estimated that the
deaths will surpass 600, but it Is impos
sible to get accurate Information on the
subject, as many villages are still out
off by the floods and the destruction of
roads and telegraph lines, and no word
from them can be had.
Shocks StIU Continue.
The earthquake shocks continue, but
they are slight. The people are still in
a condition of apprehension, which Is In
creased byyeach tremor. In spits of the
torrential rain that Is falling, they abso
lutely refuse . to remain under cover.
They have made their beds in the open.
Mattresses hare been spread about the
squares and the fields surrounding the
stricken villages, and the people are
covering themselves and their children as
best they may. Many thousands will pass
the night In this manner.
Calmed Ty Sacred Relics.
The only buildings that the frightened
people will consent to use are the
churches, and even - there they will not
stay long. Sacred relics have been ex
posed In the cathedral of Catanzaro, and
this served in a measure to calm the
populace.
No bodies had been recovered from the
ruins until 6 o'clock this evening, when
200 were taken out. This earthquake
bids fair to rival that of 1905.
Mutiny of Prisoners..
The cathedral at Torre del Greco was
thrown down, as was an ancient tower
which had withstood all the earthquakes
for centuries.
The confusion caused by the earthquake
was Increased by a mutiny of the pris
oners In the Catanzaro Jail, which was
subdued wlth, difficulty.
The troops sent with the relief trains
EARTH UAK
to the scene of the disaster had a calm
ing effect on the populace. ,
Half of the houses at Ferruzzano and
Brancaleone collapsed and many persons
were buried in the ruins. At Slnopoli and
St. Ilario several persons were burled,
and everywhere panlo prevailed.
Calabria js the province forming the
southwestern extremity of the Italian
mainland. It lies between the Ionian and
Tyrolenian Seas, and is commonly re
ferred to as the "toe" of the country.
Calabria is a mountainous reglo:i, being
traversed from end to end by the Apen
nines. Many parts, however, are ex
tremely fertile. It has experienced sev
eral severe earthquakes, that of 1783
having' been one of the most disastrous in
history. The population- in IsOl was
1,370,208.
An earthquake about two years ago in
the same province destroyed several Til
lages and killed about 00 persons.
FRENCH OCCUPY MOGADOR
Reported That Governor Is Ordered
Arrested as Traitor.
TANGIER, Oct. 24. According to a
wireless dispatch received here, Mogador
was occupied this afternoon by 300 French
marines operating in connection with a
force of Ghazl Pasha a general in the
service of Sultan Abd-el-Azlz. It is re
ported that the Governor of Mogador is
a traitor and Ghazl Pasha has an order
for his arrest.
FAIRBANKS HAS GIVEN UP
SAYS HE IS POSITIVELY NOT A
CANDIDATE FOR OFFICE.
Told That He Has No Chance of
Nomination and That Missouri
Is for Taft.
CHICAGO, Oct. 26. A special to the
Tribune from St. Louis says:
Charles W. Fairbanks, Vice-President
of the United States, dropped out of the
race for the Presidency yesterday.
"Are you a candidate for any office,
actively, tentatively or receptively T" he
was asked. - - ..
"Positively, I am not."
This was his reply, following a question
about the secret conference which Mr.
Fairbanks had on Monday wjjh Walter
S. Dickey, chairman of the Missouri
State Republican Committee at Kansas
City. Mr. Dickey told Mr. Fairbanks he
need foster no further hope of being nom
inated for the Presidency, and that tha
Missouri delegation to the - convention
would be pledged to Taft.
HOLD UP SOUTHERN TRAIN
Robbery Near Los Angeles One
Trainman Reported Killed.
LOS ANGELES. Cal., Oct. 24.-A South
ern Pacific freight train was held up to
night near this city. It Is reported that
one of the trainmen was killed.
Held on Bigamy Churge.
SEATTLE, Oct 24. William B. Miller,
manager of the Wall Street . Dock, was
arrested tonight on a charge of bigamy.
Miller was married to Miss Marie Gaid
slck, in North Yakima, September 15. It
is alleged that he has a wife living in
Lincoln, Neb., who was formerly Miss
Anna Kennedy.
When arrested Miller declared he had
been divorced from his first wife, but this
Is denied by her relatives who reside
here. The second Mrs. Miller is 111 at
the family home and her condition. is such
that she has not .been Informed of her
husband's arrest.
FINANCIAL BALLOONING
INFAMOUS CRIMES
OF ROUND TABLE
Proof Offered Against
Von Moltke.
KAISER CALLED AS WITNESS
Disgraced Noble Ready to Dis
prove Charges.
EVIDENCE" OF VILE ORGIES
Participant Describes Scenes at
Which Von Moltke and Zu Eulen
berg Were Present Public
Forbidden to Hear Details.
BERLIN, Oct. 24. The hearing of the
case of Count Kuno von Moltke, for
merly Military Governor of Berlin,
against Maximilian Harden, editor of
Die Zukunft, for defamation of charac
ter. Is growing more exciting every day.
In today's proceedings. Dr. von Dordon,
counsel for the plaintiff, .declared that he
would eventually ask for the testimony
of Emperor William to prove that Count
von Moltke has never used his office to
promote political ends, herr Bernstein,
counsel for Harden, agreed to his pro
posal. ,
Herr Bernstein then charged that the
court clique, of which Von Moltke was
a member, was guilty of infamous secret
crimes. If Von Moltke Is innocent, he
said, no one else is, and this would seem
Incredible.
Prove Their Morals Vile.
Harden proposes to call the bead of the
police department dealing with this as
pect of the public morals to testify to
what he knows as 'to Prince Philip zu
Eulenberg, formerly German Ambassa
dor to Vienna, and Lieutenant-General
Count William von Hohenau, one of the
Emperor's adjutants, who, together with'
Von Moltke, have, .been mentioned by
Harden as members of the camarilla,- or
round table.
. Harden has said that he will can as a
witness Paul Llman, author of a life of
Emperor William, who will testify "that
the late Prince von Bismarck once ex
pressed himself concerning the Immoral
excesses of Prince zu Eulenberg in the
strongest terms imaginable. Harden will
also call Prince von Buelow, the Imperial
Chancellor, and Field Marshal Count Hul
sen Hazeler, chief of tils' Emperor's mili
tary cabinet.. '
Testimony as to Orgies.
The bench has decided to admit testi
mony to prove that alleged unnatural
practices prevailed among the friends of
Von Moltke. The public will be excluded
from the hearings, but representatives of
the press will be allowed to remain. .
An army officer who had served in the
Garde du Corps at Potsdam was called
as a witness today and testified to having
taken part 'in unnatural orgies at the
house of Count Lynar, which had result
ed In the dismissal from the service in
disgrace of the Count and Lieutenant
General von Hohenau. The witness said
he heard that Von Moltke was present
on this occasion, but he thought that Zu
Eulenberg was certainly there.
The .court has decided to reject Zu
Eulenberg's medical certificate submitted
yesterday, saying he was too ill to attend
the hearing, and he has been summoned
to appear tomorrow.
RIPLEY HOWLS CALAMITY
President of Santa Fe Gives Out
Pessimistic Interview.
TOPEKA, Kan., Oct. 25.-B. P. Ripley,
president of the Santa Fe, gave out an
interview yesterday In which he said:
'I do not claim to be a prophet, or I
do not think I am by nature a pessimist,
but I am in a position where I cannot
help seeing something of the conditions
which exist over a considerable portion
of this country, and it has been perfectly
clear to me for some time past that we
were on the eve of a check to our pros
perity. Opinions may and will differ as
to the causes of this check, but there is
no doubt that it has arrived.
-
Connt Laszlo Bichenyl. Who Will
Marry Miss Gladys VanderblM.
, "We are still doing a large business,
but it is less than last year at this
time, and Is simply the impe.tus de
rived from the past conditions. There
is plainly in sight a . considerable
period of dullness and decreased earn
ings, and there will be no new under
takings in the railroad line and very
few in other, lines of trade for at least
a year.
"The situation is,- of course, ren
dered much worse by the disposition
extant In the Western States to single
out the railroads for persecution... It
means long-drawn-out litigation, with
uncertain results. It means antagonism
where there ought to be co-operation.
It means no new roads and no im
provements on existing roads. Both
of which are a thousand times more
important to the people of Kansas
than any reduction in freight or pas
senger rates."
CONTENTS TODAY'S PAPER
The Weather.
YESTERDAY'S Maximum lempfralur., SO
degrees; minimum SO aesreea.
TODA.Y'8 Cloudy, with possibly rain; south
erly winds. '
Financial Situation. ,. .
Large New York banks stnd runs and fail
ure of three sma'l banks has no effect.
Pass 1
Morgan secures relief to stock market and
prices recover. Pass 1.
Five days' holiday in Nevada prevents run
on banks. Page S.
Helnze will return to Montana and renew
war on Amalgamated Copper Company.
Page 8.
Foreign.
Revolting disclosures at Von Moltke libel
trial; Kaiser, summoned as witness.
Page 1.
Earthquake In Italy destroys several vil
lages and kills COO people. Page 1. .
National. -
Fleet will return from Paclflo after SO days'
stay. Page S.
Todd appointed Slstrtot Attorney to suc
ceed Sullivan. Page 6.
Northwest delegation will try to get Celllo
canal put under continuing contract.
Page S.
Politics. v
Roosevelt will run for Senate if successor
as President is In harmony with him.
Page 1.
Chicago has ' hot rival for Republican con
vention In Kansas City. Pase 1.
Crvlc Federation continues debate on trusts.
Page 4.
Domestic '
Harrlman may distribute stocks of other
. roads held by Union Pacific. l?age 4.
Gillette. Mutual Life official, convicted of
perjury. Page 4.
- Sport.
Portland defeats Oakland, 8 to 2. Page 7.
Winning ballponlsts will challenge for Lathm
cup. Page 4.
Paclflo Coast.
Oallagher teatloea In Ford graft trial.
Pace 8.
Riot between San Francisco carmen and
polloe. Page 3.
fichooner Novelty, fast ashore above Coos
Bay, will be total loss. Page 0.
Four deaths in Seattle believed to have
been due to bubonlo plague. Page 6.
Aberdeen fears another reign of crime.
Page T.
Commercial and marine.
Qraln traders have faith in future of mar
ket. Page 17.
Backers' relief measures savs stock mar
ket. Page 17. p
Heavy selling breaks wheat prices at Chi
cago. Page IT.'
British steamship Tymrlo clears for 3a.
Vincents with wheat. Page 18.
Portland, and Vicinity.
Nineteen violent deaths In Portland In last
three weeks. Page 11.
Supposed horsethlef caught by Sheriff.
Pag 13.
Highwayman's vtatlm dies of wounds.
. Page 11.
Local merchants will keep open house dur
ing Rose Festival. Page 12. '
Unite States Senatpr Ankeny. of Washing
ton." predicts continued prosperity.
Page 10. , .
Oregon California Railroad attacks Juris
diction of Equalization Board and de
mands SO per cent reduction In assess
ment. Page 12.
Dental College students has big class of
freshmen. Page 10. ,.
X
4 Ma: ': :
ROOSEVELT'S EYE
OH. BUTTS SEAT
If Taft Elected, Would
Go to Senate.
LEAD ADMINISTRATION FORCES
Stay at Home- if Man of Own
Type Not Elected.
DISGUSTED WITH FUSION
President Disapproves Parson's
Deal With Hearst and Puts
New York Chairman Among
Down-and-out Class.
WASHINGTON, D. C, Oct. 24. (Spe
cial.) If Secretary of Wii; Taft or a
man of the Roosevelt type be elected
President next Fall, President Roose
velt may, under certain conditions, gro
before the New York Legislature In
1909 aa a candidate to succeed Thomas
C. Piatt in the United States Senate,
with the idea of leading the support
of administration- policies in the upper
branch of Congress. This exceedingly
interesting; information has come to
close friends of the President since the
latter's return from his Western and
Southern trip.
If Mr. Taft or somebody of the same
recognled type be not elected President.
Mr. Roosevelt will under no circum
stances seek a seat in the Senate, for
the reason that he would not be in a
position to give hearty support to the
administration, and at the same time
would feel the Impropriety of taking
an official part in criticising his. im
mediate successor in the White House.
Condemns Fusion Deal.
There no longer is any doubt that the
President Is disgusted over the fusion
of the New York County Republican
organlatlon and the Hearst outfit. The
President does not approve the actljn
of Herbert Parsons, upon whom rests
the responsibility of the-strange alli
ance in New York this Falland at this
distance it looks very much as though
the young leader would be a "down-and-outer"
before very long.
The President has riven friends to un
derstand that he not only was not con
sulted about a fusion deal, but that he
really knew nothing concerning It until
he emerged from the canebrakea, and
that is as far as he may go in author
izing any statement ancnt the situation
of things that have been done. Appar
ently he does not want to make any open
reflection upon Mr. Parsons while a cam
paign is on, preferring to let the latter
go to a finish. But it is understood that
the President has spoken his private
opinion to visitors in emphatic terms.
Was Not Forewarned.
In Justice to himself, however. In view
of the fact that it has been openly asserted
that Mr. Parsons had conferred with the
President before making the deal with
Mr. Hearst, Mr. Roosevelt ha let it b
known that the declaration is false.
High administration officials very well
acquainted with the New York situation
have declared privately that the fusion
ticket in the county is likely to be
snowed under.
As to Mr. Hearst, Hearstlsm and all
that t Hearstlsm in politics Involves, It
may be stated that the President holds
the same opinion today that he held last
Fall, when Mr. Hearst was a candidate
for Governor on another kind of fusion
ticket against Mr. Hughes.
SAYS CHICAGO MUST RUSTLE
Build Larger Hall or Kansas City
Get9 Convention.
CHICAGO, Oct. 24. Chicago and Kansas
City will fight it out for both the Repub
lican" and Democratio National Conven
tions of 1908. Chicago will win only on
condition that a larger convention hall be
provided than the Coliseum and better ar
ranged. Thomas D. Knight, president of
the Hamilton Club, delivered this mes
sage last night at a banquet of the "Old
Guard" of the cluo. fie had Just returned
after a consultation with Chairman New
end other Republican National leaders at
Washington:
"Chicago must provide a hall which will
comfortably seat 14,000," said Mr. Knight.
"That is the foundation stone of the de
mands of the National Committee, and
must be met by Chicago or the cen vent ion
Roe's to Kansas City, where there is a '4all
seating 20.000. Already many Eastern
committeemen have pledged their support
to Kansas City, which has made a strong
campaign. The Coliseum, as at present
arranged, does not answer nearly the de
mand. Wo will strive to arrange a sys
tem of new galleries. Mr. New will be
here In a short time to see what we can
do. We are considering urging the rapid
construction of the new Seventh Regiment
Armory, which will be adequate, or fall
ing in that, to build a temporary wigwam.
Chicago must hustle to land both 'corn I
ventlona."
BREAKS HER OWN RECORD
I.usltanla Slakes Trip to Queens
town in 4 Days 2 2 Hours 4 6 Mln.
QUEE3NSTOWN, Oct. 24. The Lusltanls.
arrived here at 9:30 this evening, break
ing the eastward record of five days four
hours and 19 minutes, held by herself.
Her passage this time was four days 23
hours and 4S minutes.