VOL. XXVI.-XO- 14,028. PORTLAND, "OltLGOX. SATURDAY, OCTOBER 26, 1907. PRICE FIVE CENTS. SMALLER BANKS CAUGHT IN WHIRL Six in New York Close Their Doors. BUT ONSLAUGHT IS STAYED Big Trust Companies Stand Firm Under Strain. CLEARING-HOUSE TO HELP WIU Issue Certificates Till Storm Blows Over Morgan's Pool Stif fens Stock Market Imports of Foreign Gold Coming. . NEW YORK, Oct. 25. Another nerve racking day has passed, but the financial Institutions of New York have shown extraordinary powers of resistance to the pressure put upon them. While It Is true that several minor institutions have been forced to close their doors, yet two things should be said about them. First, that the amount involved was not so great as to exert any marked Influence on the general situation, as these banks were located In residential quarters and n did not come in touch with the larger finan cial institutions of the metropolis; and, second, there is every reason to believe that these banks and trust companies are entirely solvent and their difficulties will prove to be only temporary and due entirely to Inability to secure ready cash on the gilt-edged securities In their vaults. Of course, the cessation by these eompan les caused trouble to many people, but not so great as it might seem, as the de positors are for the most part located In the well-to-do quarters of the city and many of them are people of wealth, who have suffered no great inconven ience. Savings Banks Kequlre Notice. In the light of .the commercial ex citement, the savings banks thought it wise to put- into effect the rulo requiring 80 to ,60 days' notice for the withdrawal of deposits. This will prevent the with drawal of money which would otherwise be put in safety deposit boxes. The sav ings banks, if they continued to make payments, would be obliged to withdraw funds from National banks, thereby causing an additional strain on the gen eral banking situation. There was not the slightest hint that any of the savings institutions was in anything but the soundest condition and it was pointed out that the savings banks of this state are so restricted by law in investing their money that there can be no question that all of the securities in their possession are of good vafue and readily saleable In normal times. Banks Closed During Day. The institutions ' which closed their doors today with the sums due depositors re: The United States Exchange v Bank, Harlem t0,000 International Trust Company, a tirtitt IDA n.Vl The Borough Bank of Brooklyn.. 4,000,000 The Brooklyn Bank 7. 1,300,000 Williamsburg ' Trust Company, Brooklyn 7,500,000 First National Bank of Brooklyn 3,600,000 The First National Bank of Brooklyn, the Williamsburg Trust Company and the International Trust Company were allied Institutions. None of these companies had any Important business connections with the larger banks which are repre sentative of the city's financial affairs. Big Trust Companies Stand Run. On the other hand, a number of favor able features marked the day. The Trust Company of America and the Lincoln Trust Company, the organizations which have suffered most from runs, have been slowly paying out to their depositors and closed today with al' demands met. In the case of the Trust Company of Amer ica the run was wellnlgh spent, as the frreat bulk of depositors have been paid off. At the close of business there were a good many In line at the Lincoln Trust Company, but also there was a marked reduction In the number of anxious de positors. Morgan's Pool Saves Stocks. The most favorable incident of the day was that the Stock Exchange was 'pro vided with funds ample to meet its Imme diate necessities by a money pool beaded by J. P. Morgan, which sent about $15, 000,000 to the exchange during the after noon. The stock marked had held rela tively firm all day, but when the pool of money was offered in the loan corner, there was an Immediate upturn vof prices and the market closed strong at the best prices of the day. As all of the loans made today hold over until Monday, the Stock Exchange situation will not be a factor in the problems that the bankers may be called upon to solve tomorrow. A very encouraging feature of the aft ernoon's developments was a signed state ment by Clark Williams, the newly ap pointed State Superintendent of Banking, affirming the solvency of the local Insti tutions. There was the usual crops of alarmist reports during the day, one of them to the effect that a large dry goods house was seriously involved, but this, as well as all the other rumors proved to be false. A" further encouraging development of the afternoon, the good effect of which can scarcely be over-estimated, was the .decision arrived af unofficially to issue clearing-house certificates probably to morrow. There will be a full meeting of the Clearing-House Association tomorrow morning at 10 o'clock for the purpose of taking official action for the Issuance of these certificates. The immediate effect of this will be to enable the banks to set tle balances between themselves with these certificates and thereby release large sums of currency for the regular needs of business. The decision to issue clearing-house certificates is likely to end any further anxiety in regard to the supply of cur rency. The decision means that here after large balances against any par ticular bank at the clearing-house can be settled in clearing-house certificates and the bank allowed to retain its cash to meet other demands. The certifi cates will be issued, as usual, only upon the depoelt with the clearing-house committee of acceptable securities, and only In such amounts as the clearing house committee shall approve, but in the case of a bank where affairs are I -. I'-sj jr. Lewis Stuyvesant Chanler. Lieutenant-Governor of New . York, Who Spoke on the Tariff at At lanta Yesterday. sound there will be no arbitrary limit to the assistance of this sort to be ren dered when needed. The first issue of clearing-house cer tificates was In 1X60, and there were several Issues durlngthe period of the war. Other Issues occurred In 1873 and 1884. The last occasion on which they were availed of was In 1893. Use of Certificates. The clearing-house certificate Is practically a guarantee by ithe banks In the clearing-house that It shall be redeemed at par, but the clearing house banks are protected against loss by the fact that first-class securities, either commercial paper .or stocks and bonds, are required before the certifi cates are issued. The certificates are used only between banks In the settle ment of their balances at the clearing house. They do not appear in gen eral circulation, but by relieving the banks of the strain of large debit bal ances at the clearing-house they en able banks to keep their cash re serves comparatively intact. It is believed by competent bankers that an Issue of $50,000,000 will be the butslde limit of what will be required on the present occasion. It is believed that the mere fact that they are to be Issued will so far restore confidence that runs upon banks will cease, so that it will not be necessary to' keep the certificates outstanding for any considerable time. Already the strong city banks are receiving large deposits from persons who have withdrawn their money from the banks and trust companies which have fallen under suspicion. This does not preclude the fact that consld- (Concluded on Pace 4.) CONTENTS TODAY'S PAPER The Weather. YESTERDAY'S Maximum temperature, 68 degrees; minimum, 61 degreea TODAYS Probably f2ir: northerly winds. The Financial Situation. 61x small banks close In New York,' but blr banks stand run. Page 1. Clearing-house decides to Issue certificates v Page 1. , Stock prices rise under Influence of Mor gan's loans. Page 1. Union Trust Bank at Providence closes. Page 2. Imports of gold to begin. Page 1. Foreign. Sensational scenes at close of Berlin libel trial. Page 1. National. Burton likely to remain rivers and harbors chairman. Page S. Interstate Commissioner Clark talks plainly to railroad men. Page 1. Domestic. Civic Federation adopts resolutions on trust legislation. Page 2. Operators' convention decides to ask terms of telegraph companies. . Page 4. - ' Politics. Lewis Stuyvesant Chanler speaks on tariff revision. Page 3. . Sports. Oregon and Idaho football teams meet on gridiron today. Page 13. Hill Military Academy.and West Side High School play to tie. Pase 13. Whitman defeats Multnomah, 14 to 6. Page 7. ; Pacific Coast. Wndera done In rebuilding San Francisco. Page 1. Pacific Coast lumbermen will make buyers stand cost of advance In rates. Page 7. Japanese merohants at Vancouver make ex horbltant claims for damages. Page 6. Commercial and Marine. Situation of local cascara bark market. Page 17. , Conditions almost normal In Wall street. Page 17. Wheat closes weak at Chicago. Page 17. Steamer Woodford is chartered for full barley cargo. Page 10. Portland and Vicinity. Trades unions resolve to build labor temslvj Clubwomen of city Indorse petition of teach ers for higher salaries. P4ge 10. District Attorney Manning finds, leaks In lid. Page 11. - Judge Cleland grants eight divorces. Page 16. Heavy subscriptions for Boat Festival. Page 10. ROOSEVELT HAS SAVED RAILROADS Clark Talks Plainly to Traffic Men. CALLED HALT TO BUCCANEERS Frank Words From Interstate Commissioner. WILL PRAISE PRESIDENT Banquet of Traffic Club Made Oc casion for Vigorous Defense of -Roosevelt's Policy and Dcnun , elation of High Finance. CHICAGO,' Oct. 25. (Special.) "If the railroads claim a square deal, they must give -a square deal. It will not , 'be long until the railroad magnates who are now denounolng Roosevelt will praise him. for having saved them from them selves." ' . 1 Hurling these bombshells into the ban quet of the TrafBo Club, an organization of railroad magnates,, superintendents and traffic officials, tonight, E. E. Clark, Interstate Commerce Commissioner, created intense Interest. His address was closely followed and applauded at times, although It contained some bitter doses for the audience. Mr. Clark said. in part: Caused Buccaneers to Halt. "The railways of this country probably never will keep up with the demands for greater and better service and facilities, which the commercial Interests have earned and which are their right, so long as the roads are operated with an eye singly or chiefly to the speculative value of their securities. 1 "The policy of the Administration has caused many railroad buccaneers to halt. Enough has been exposed of dishonesty and downright fraud abundantly to dem onstrate the propriety and timeliness of the President's policy, and It Is these exposures rather than his policy that have had the effect complained of. ' Saved From Themselves. "It requires no gift of prophecy to see that a continuance of the practices against which the President stands so strongly, and many of which recently have been brought to light, might Invite drastlo and even . violent means of cor rection, which would bring destruction upon the very interests themselves. In a very short time these interests will feel grateful to President Roosevelt for the policy which has saved them from them selves. History will write Theodore Roosevelt as one of the Nation's Immor tal executives, who In his day saved the Republic . from Impending destruction." RAILROAD STARVES CATTLE Government Sues Southern Paciflo Under 2 8-Hour Law. SAN FRANCISCO. Oct. 25. Thirty-three suits against the Southern Pacific Com pany have been filed in the United States Circuit Court by United States Attorney Devlin at the request of Attorney-General Bonaparte. The suits were brought to re cover 1500 in each case, or a total of J16, 500, for violating an act of Congress to prevent cruelty to animals in transit on the cars. United States Marshal Elliott reported yesterday that the process in the suits had been served upon Manager Calvin and the Clerk of the Circuit Court then took off the seal of secrecy which had been maintained since July SI. when the first action was taken in the matter, because of a peculiar - rule imposed by Judge W. W. Morrow. The complaints charge that on 33 different occasions the Southern Pacific Company confined cat tle in the cars 36 hours without rest for food or water. The law limits such con finement to 28 hours at most. ' BTJRLIXGTON IS AFTER COAL Survey Completed for Road Through Southern Montana. HELENA, Mont., Oct. 25. A special to the Record from Bridger says that Chief-, Engineer Ensign, the superin tendent of right of way of the Burling ton, and George Crosby, have arrived there and make the positive announce ment that the Burlington has accepted the survey of a proposed route from Frafinie, Wyo., to Fromberg, Mont., and that construction work will be gin at once. This will give the Burl ington access to the rich coal fields of Southern Montana, as well as tap ping a splendid agricultural and hor ticultural section. The road will fol low the Clark's Fork River. LANE FEARS XO CAR SHORTAGE Tells President Northwest Is Wclrl Supplied With' Coal. WASHINGTON, Oct. 25. Interstate Commerce Commissioner Lane conferred with President Roosevelt today, at the request of the latter, regarding the car shortage in the Northwest. The Presi dent was assured that no present alarm need be felt on account of the lack of coal in the Northwest, as the railroads had been shipping coal to that section during the Summer. That there is a cat shortage is apparent, but no Immediate crisis is anticipated because of that fact. The crops are being moved, but more slowly than desirable. Fruitgrowers Case Argued. "WASHINGTON, Oct. 25. Oral argu ments were heard today by the Interstate Commerce Commission in the case of the California Fruitgrowers' Exchange and others against the Southern Pacific Com pany and the California Citrus Union as lntervenor. The complainants alleged In their petition that the Southern Paciflo furnished cars for the transportation only of. such fruit as was actually picked and warehoused, instead of supplying cars to each shipper, as heretofore, in proportion to the amount of the season's business done by the shippers. The shippers main tained that the regulation was discrimina tory. GRAFTERS TELL STORIES Each Relates How He AVas Bribed by United Railroads. . - SAN FRANCISCO. Oct. 25. Ex -Super visors P. .McGushin, j'ames. Kelly and E. I. Walsh this morning testified at tho Tlrey I Ford bribery trial. Each re told the story of his bribery In the in terest of the United Railroads trolley franchise. Their cross-examination elici ted nothing of importance. Ex-Supervisors Charles Boxton, Fred P. Nichols and C. J. Harrigan also testi fied before the noon recess, their evidence being substantially the same as was L given at the former trial of Ford. A few Giscrepancies, nowever, were aeveiopea on cross examination. , - Will Not Quash Indictment. SAN FRANCISCO. Oct. 25. When the case of Luther Brown afid Porter Ashe, employes of Patrick--Calhoun, accused of the kidnaping of Fremont Older, was called before Judge Dunne thjs morning, their attorney made an effort to have the indictments set aside, alleging that the grand Jury was biased and that the In dictments had been found after the pres entation of the case by Assistant District Attorney Heney, who it was alleged was also, the attorney for Mr. Older. Judge Dunne re buked the attorney for, making this sug gestion, declaring that Mr. Heney ap peared before the grand Jury as he would In the case of any one else who had charges to prefer. After lengthy argu ment, Judge Dunne denied the motion. LIFTING THE GERMAN LID TIES STOCK ID S JUSTLY PROUD What San Francisco Did in 18 Months. FOREST OF SKYSCRAPERS Great Structures Where Earth quake Left Waste." BEATS BUILDING RECORD Work Began on $100,000,000 Worth of Structures Rush to 3fw Office Buildings Great Changes In Business Part, r SAN FRANCISCO, Oct. 25. (Special.) It is 18 months ago that San Francisco was swept by fire and earthquake. Since then she has been afflicted with indus trial strife, civic corruption and bubonio plague. It Is no opportune moment to take stock. It does not require an op timist to write the rosy story of the re vival. The faots and the figures tell their own story and they are here for everyone to see. Great buildings with their rigid frames lacing across the sky. commercial avenues crowded with pedes trians and a vast Industrial army tell a tale that even the casual obsorver must note. The San Franciscan- may in truth be pardoned 'If he shows a disposition to place his thumbs in his vest and boast of what he has done. But he hasn't much time for boasting. The terrible pace be gun when the first frame structure was started has not abated. The point has been reached where resulta are beginning to show, and with this has come a new zest for tha vast work. $100,000,000 Worth of Buildings. Since the fire, buildings have been begun to cost $100,000,000 (one hundred million dollars), five times as much as In any similar period of time before the fire. They range all the way from the small structure to skyscrapers 14 and 15 stories high. It is as though a building were begun every day to cost $180,000. There is no sign of a decrease, although it is expected that there will be a natural falling off over the Winter months. The remarkable feature of the matter, how ever, Is the stability of the savings ac counts. Predictions were freely made that San Francisco could be built only upon the savings of Its citizens. Although $100,000,000 In buildings are under way or completed, the savings accounts in the local banks have shown but a Bmall de crease and still stand at the comfortable figure of $157,000,000. It has been pointed out that it required two years for Baltimore to erect .build ings to cost $50,000,000 after its fire, but San Francisco has done four times as well In six months less time. Baltimore's achievement was commented upon at the time as marvelous. The most encouraging feature of San Francisco's- reconstruction -has . come in the last few weeks with the completion of some of the large office buildings" down town. There has been a rush for accommodations, and In consequence the ; down-town section has been booming. Large structures bring rents 25 per cent larger than before the fire. Whenever a new office building Is completed, it brings its hundreds of tenants into the district, and In their wake come new retail stores. This process has reached the point where Market street, at Third, has begun to assume Its old-time activity. There Is the same rush for streetcars at 5 o'clock In the evening as made that hour In the old days the most Interesting of the 24. Shift of Business Centers. With the completion of these large buildings, the features of the new city are rapidly taking shape. In general the various districts will occupy their old time places. There are some few notable changes, however. First and foremost Is the removal of the financial center from Montgomery street to Market street. Be fore the fire, the banks crowded each other for space on Montgomery street. In the new city a chain of banks will stretch along Market street, from -Montgomery to Powell, a distance of four blocks. In that space will oe 12 of the largest financial Institutions In the city. Many will remain on Montgomery street, but the financial strength will He with Market street. A shift In the wholesale district Is also noticeable. Before the fire, it crowded at the lower ends of the streets north of Market. Just before the disaster a gen eral movement had set In to take up lo cations southof .Market street, where the big establishments would not only be In close communication witu the water front but would be near the Southern Pacific Depot at Third and Towhsend. Taking advantage of the fire, wholesalers are establishing their plants on Mission . street and other thoroughfares south of Market. The retail district has shifted up one block. Formerly Kearny street claimed the attention of the woman shopperj, but the large retail establishments have by common consent moved up o-e block to Grant avenue. From Grant avenue it will stretch westward along Sutter, Post and Geary streets, surrounding Union Square. Barbary- Coast's New Life. The theater district is still a matter of some- speculation. The large theaters have erected permanent structures In Fillmore atreet (where the city moved after the fire), and with one exception have not yet made their plans to return .down town. The exception is the Or pheum, which has arranged to rebuild on its old site in O'Farrell street, between Stockton and Powell. The Columbia Theater owners are contemplating the erection of a newptayhouse in Van Ness avenue, at Geary. This Is several blocks beyond the down town section. There need be no doubt as to. the resur rection of the Barbary Coast. It sprang Into full life long ago, and the old-time revelries have been In full swing the:-e for several months. With the arrival of the Paoiflc fleet, the "Coast" had a boom such as it had not experienced since the Spanish War. In passing, it may be re marked that the population of the Bar bary Coast has reached a stage which necessitates an automobile and 'bus line to augment the streetcar service. Built Up on Great Waste. A few days after the fire tho writer made his way down Third street, from Market. It was a tangled mass of ashes, tirlcks, twisted Iron, and, in fact, in distinguishable as a street and only a part of the great waste. -Third street today is lined on both sides with splendid brick structures. It holds he record for reconstruction. Under the new administration streets have been repaved, the remnants of the debris removed, and the way cleared for unobstructed progress. ROB WHOLE TRAIN CREW i. " - -. Armed Men Hold Vp Train Xear Xos Angelea for Booty. - ' LOS ANGELES, Cal., Oct. 25. Three armed men last night held tip a freight train within five miles of this city, wounded one of the train crow, robbed them of $250 and two watches, and made their escape. The train .was a suburban freight, bound for New Al hambra. It is belie -ed that the robbers boarded It before' It started from the yards. , The engineer, fireman and head hrakeman were In the cab when their 'assailants climbed over the boxcars. covered them with revolvers and or dered them to throw up their hands. While one of their number remained on the oil tank, extending a revolver in either band, the. two accomplices searched Matthew Brady, the fireman. Ward Haines, the engineer, and . W. Woolsman, the brakeman, taking all their money and the watches carried by Brady and Haines. . Brady objected at first to raising his hands and afterward lowered them. One of the men on the oil tank fired, the bullet striking the fireman In one of his hands. Near Dolgeville the en gineer was ordered to slow down and the men, one after another, jumped from the engine and d'aroeared In the darkness. y. ................. ....... : f"- $f A-nf Edirar E. Clark, Interstate Commerce t CommlMloner. Who Trlls Kail road I Magnate They Need Curbing1. i HiU CHEERED BY BERLIN CROWD Von Moltke Libel Trial Brought to End. HARDEN BREAKS INTO FURY Dares Accuser to Deny State - ment of Royalty. ZU EULENBERG IN HIDING Doctor Says He Would Die of Paral ysis if Forced to Appear Von Moltke Calls the Charge Mountains of Lies. BERLIN. Oct. 23. Justice Kern today closed the taking of testimony in the libel action brought by General Count Kuno von Moltke aftainst M. Harden, editor of Die Zukunft, saying the court had heard -enough on which to base a decis ion, though he did not Indicate what that decision would be. Counsel were given the privilege of being heard tomorrow. Herr Harden, when he left the court, was cheered wildly by Immense crowds of persons, who admired his courage in attacking powerful personages connected with the imperial court. Prince Philip iu Eulenberg, ex-German Ambassador to Vienna, did not appear. His physician informed the Justice that it would be dangerous for his patient to do so. Dr. von Gordcn, attorney for Count von Moltke, adding that there was danger of the Prince having a stroke of apoplexy and falling dead In court. Dodges Being Identified. Justice Kem then directed Police Captain von Treskow to take the wit ness who testified yesterday, whose tinmn -wan Tint- m n il rt,i,l!c i- Tr1r,ct zu Eulenberg's residence to see If ths witness could identify zu Eulenberg. Von Treskow later returned to the court sad- eald the Prince refused to receive them. Herr Harden during the proceedings lost his temper and, waving his hand in fury toward Count Kuno von Molt ke, yelled: "Does he still deny that a member of the royal house told me that Von Moltke would be mad If he tried to repel the charges?" Vliy Von Moltke Hcslgnea. Justice Kern asked General' von Moltke If he had resigned his position on account of the publication of Herr Harden's- charges. Von Moltke replied that there had been such a mountain of lies piled up against him that he felt he could no longer remain the military comman dant at Berlin. He said he had worn the Emperor's uniform for 42 years and loved his career. He begged the court to take the ruin of his career Into consideration when he passed sen tence upon Harden. The day was largely occupied with expert testimony by Dr. Mangus Hlrschfeld on the nature of the of fenses charged . In the Indictment. EMPEROR IS NEARLY . WELL Doctors Stop Issuing Bulletins on - Francis Joseph. ' VIENNA, Oct. 25. The physicians In at tendance on Emperor Francis Joseph to. day decided not to Issue any further bul letins, as they consider that his convales cence Is progressing satisfactorily. WEEK'S BANK CLEARINGS Coast Cities Sliow Increase, New York Largest Decrease.. NEW TOP.K. Oct. 25. Bradstreet's bank clearings report for the week endlnc Oc tober 24, shows an aggregate of $3,105,610. OOO bs against $3.0.r.92S,00O last week, ant $3,210,807,000 la the corresponding week last year. Canadiun clearings for the weelc total fU3.6SG.000 as against $39,019,000 laat woek, and SU5.571.000 in the same week lasc year. Following Is a list of the cities: P.C. P.C. Inc. Dec. Now York Chicago ........ Boston , Philadelphia .St. Louis Pittsburg ' San Francisco .. Baltimore Kansas City ... Cincinnati Minneapolis . . . . Los Angoies , .. Omaha Eeattle St. Paul' Denver Salt Lake City.. Portland, Or. . . Atlanta Spokane Taroma Helena Houston Galveston '. .1.948,219.000 7.5 . 2i4.34.0i0 20.0 170,5.VS.OK .... 131,209,000 10.3 73,173.000 22.3 6J.3O0.OOO 7.9 43.11.17.01)0 82,810.000 21.2 40.HU2.0O0 HB.T 27..VI4.0O0 10.8 Kti.Olll.OOO 45.1 11.1N5.000. 1.0 12,(ISO.IOO 2.1.9 11,9X0.000 21.2 12.054.000 13.1 1O.335.00O 83.3 7.34D.UO0 11.1 .3.-,0.00 S.lOtS.OOO 11.0 7.004.OOO 29. T B,!l04.0OO 30.0 1.2IW.0OO 32.8 43.bOP.ooO.. 3.3 15,903,000 23.8 2.2 , CANADA. Vancouver. B. C... 4.482.000 82.4 Victoria.. O 1.35U.OOO 03.0 Identify Wreck Victims. SEATTLE, Wash., Oct. 23. (Special.) Throush' the discovery of a coat in which there were papers belonging to C. M. Johnston, of Machias, it is be lieved the body of one of the Northern Pacific wreck victims at Rock Cut, on October 7, has been identified. ' The body was buried in the potters field for lack of identification, but the coat. Just found at the scene of the wreck, indicates the body was that of Johns ton. Railroad men now believe the body of Fireman Gilbert "Ernst burned in the wreck.