THE DAILY COOS BAY TIMES. MARSHFIELD. OREGON, SUNDAY, NOVEMBER 24, 1907.
HHnHBCIMniBMBniBHViiBMaaM.
Plays from the following Reper-
111 J)cnU Jo Irs Part A Four Act
Character Drama a Companion
Play to Trilby. -
The Girl' mid the Miner A Play In
five sActs. A Story of the Days
of '49.
The Clay Baker Mr. and Mrs.
Mong's Greatest Success in which
they have appeared 138 nights in
New York and 121, nights in Chi
cago. A Cheerful Liar A Rip-Roaring
Comedy.
The Girl of the Mountains A Cora-
v edy Drama In Four Acts.
The New Enst Lyniic.
Captain Racket The' Biggest Laugh
of the Engagement.
The White Caps A Story of the Old
South.
An Irish Peacemaker From Daly's
Theater New York.
Franz, King of Koine A Historical
Drama in five' acts.
Thfo Prodigal Son A. Lieble'r & Co.
' Production.
i ss-mrts srnTA -UAITCn "71ff A r&(Z-ir:rfcl TV THF PLAYERS ' I
. JVlAoUni urDKA LAUUDQnmuriuuM
... Seven Nights Only . . .
Commencing Wednesday, Nov. 27
GEORGE L. BOWERS PRESENTS
MR. AND MRS.
WILLIAM V. MONG
And Their Excellent Company of New York Players
In an Extensive Repertoire of Dramatic and Comedy SUCCESSES '
Popular Prices25c, 35c, 50c. ! Seats Now on Sale at Butler's Office
WILLIAM V. MONO
MAllIli LOUISE MONO
C. M. I)K VKHK
MAYNOX STEWARD
EDWIN VIVIAX
MRS. CLARA KNOICKSOLL
GEORGE DUISCOLL
GEORGE L. ROWERS
GUS 1UTNEII
MAltY ROBERTS
and
LITTLE "ANGEL"
"Mong Recalls Visions of Jcf.
fcrson" Chicago Tribune.
"A Conipnny of Exceptional Merit"
Pittsburg Post.
"William V. Mong is one of the
Greatest Actors on tho American
Stage" Seattle Times.
IH
Secrets of the Clearing House;
How Big Men Handle Billions.
"$Ince tho organization of the Now
York clearing house practically tho
clearing house of the continent its
total clearances havo amounted to
nearly two trillions of dollars. In
actual figures the almost unthinka
ble sum is $1,850,817,161,435.90.
"And 9C cents!" Just imagine tho ln
flnltesmal exactness of that great
est financial mill. In generations of
turning over and over the currency
of a nation not even a penny has
been lost.
Under normal conditions the New
York clearing house is an organiza
tion of clerical forces to enable 53
leading banks of New York and vi
cinity to balance their accounts with
one another with great economy of
time and money. In time of finan
cial stress tho clearing house repeat
edly has stood between the country
and financial disaster, much as a
federation of nations might rush
allied troops to the defense of a
threatened country.
Tho clearing house may causo tho
Temoval of the president or ofilcers
of any of Its banks. It even may
dictate the most radical changes in
their organization and policy. It
may become, in fact, an autocracy
from tho rulings of which there may
bo little chance of appeal.
Comes to the Rescue of Riisuincss.
The Chicago clearing house is or
ganized on practically the samo lines
aB tho one in New York, and in times
of financial stress has come to tho
rescue of business In this territory
tho same as tho New York clearing
house has bolstered up the finances
of tho nation when tho people threat
ened to stampede during national
calamity or menacing trouble.
When tho Chicago National and
tho Homo Savings banks, the proper
ties of John It. Walsh, were totter
ing on tho brink of failure the Chi
cago clearing houso committee ex
amined Into their conditions, found
that disaster to tho city's business
could be avoided by taking tho Walsh
industrial holdings and makinK
them pay out, and money was ad
avneed to pay tho depositors of both
institutions. As soon as It was an
nounced that the clearing houso com
mittee had taken hold of tho situa
tion confidence was restored and
business wont on practically uninter
rupted. Upon confidence alone rests the
stability of our finance. Without
confidence wo cannot carry on busi
ness by means of negotiable paper
notes, bills, etc., but principally, to
tho layman, checks. There is not
sufficient currency in existenco to
carry on tho business of this nation
by actual transfer of coin every time
a transaction takes placo.
Why Money Gets "Tight."
As soon as the peoplo begin to feel
that there may not bo enough actual
currency to cash tho paper afloat
they begin to loso confidence and
hold on to all the coin they get, de
mand actual coin in payment for all
things, refusing checks. Thon what
is called "tight money" exists. Then
n "stringency in tho monoy market"
is felt among tho people
It is to roliovo this stringency, to
promoto elasticity, that tho clearing
houses of tho country issue loan cer
tificates and tako kindred steps to
loosen up tho modlum of oxchange.
Tho financiers would rather restore
confidence among tho sponders and
earners of money In small or medium
amounts than anything olso. Ac
tivity In trado Is Impossible without
confldonco.
Tho ofllciency of clearing houso
loan certificates has boon tested llvo
times by tho Now York clearing
house. A recent and probably tho
most striking example of tholr feasi
bility was at tho tlmo President Mc
Klnley was shot. Doyond question a
terrible panic would havo occurred
but for the action of tho clearing
house committee in New York. For
tunately for tho financial situation
tho shooting iooK pmce after the
stock market closed. A member of
the committee who happened to be
In town proceded at once to organ
ize relief on a tremendous scale.
$30,000,000 Pool Was Xot Needed.
Knowing that It would be impossi
ble for the panic to break before the
opening of the stock market, ho em
ployed the intervening hours in ac
cumulating an enormous pool. Be
fore tho stock market opened the
next morning a meeting had been
held In tho clearing house at which
$30,000,000 was placed in tho pool,
and tho announcement flashed all
over tho country that this would be
loaned on the floor of the exchange
at market rates.
Not a single dollar of this sum was
used. The $30,000,000 was not
needed. Tho mere promise that this
sum was available, the confidence re
stored by its mere presence, so great
was tho faith of America in the Now
York clearing house loan certificates,
was enough to maintain the equilib
rium of the country's finances and
prevent disaster. It is only at such
times as this that the average wage
earner actually feels and realizes his
relation to the big affairs of the na
tion. It is the effort to make men
realize the relation of their daily
tasks to the large things in life that
"Learn the job of the man above
you."
Money Concentrates in New York.
Wall street is commonly called the
great financial center. Tho clearing
house is tho pivot upon which great
operations turn. The banking power
of the world is estimated in round
numbers, in excess of $25,000,000,
000. Practically half of this sum is
to bo found in the United States,
whllo tho loans and discounts of tho
national banks of New York amount
to one-fifth of all tho national banks
In tho country.
I Tho concentration of monoy in
Now York Is unprecedented. The na
tional banking laws provldo that 25
per cent reserve must bo held against
tho deposits of all national banks and
that this sum must bo kept In a cen
tral reserve city Now York, Chicago
or St. Louis. The New York banks,
therefore, at all times carry in ro
I servo a considerable propqrtlon of
tho nation's cash, so that every move
ment in trade or Industry which cre
ates a demand for money or tho con
trary, is felt in tho financial cen
ter. Monoy exerts a curious magnetic
power, nnd tho financial compass con
stantly points toward Now York and
Wall street. Tho exact center of this
financial magnetlzm is tho Now York
clearing houso. Tho ofllclal figures
of banking in Now York speak olo
quontly of this. During tho year
ondlng Sopt. 30, 1907, tho clearings
amounted to $95,315,421,237.96.
Tho clearances In 1854, over half a
century ago, wore $5,750,455,987.06.
"And 6 cents" oven at that early
dato tho fathers woro counting tho
ponnios whllo they recorded billions,
Counting tho pounles whllo building
tho foundations of this wonderful
financial institution is what made
possible tho imperishable structure
that rests upon thorn.
Each Hank Pays Membership Fee.
Fifty-thrco bnnks constitute tho
membership of tho New York clear
ing house. Each pays u membership
feo and dues of $1,000 n yenr and is
subject to tho most rigid supervision
by tho clearing houso. Nonmombers
pro'porly qualifying may clear
through tho clearing Iioubo for a foe
of $1,000 a year. Each of th banks
is furnished with a desk, each deBk
being' numbered In tho order of the
bank's admission. There are fifty
four of these desJts, one being for tho
assistant treasurer of tho United
States, who is a member and who
clears through tho institution.
Every business morning two bank
clerks tako up their positions at each
desk, a delivery clerk, who stands
outside, and a settling clerk, who re
ceives the checks drawn on his bank.
The delivery clerk carries a box con
taining tho Items for exchange and
these In turn are made up In fifty
four envelopes, ono for each bank
represented.
Precisely at one minute to 10 tho
manager of tho clearing house, or an
assistant, calls the clerks to order
and a signal Is given for the delivery
clerks to begin the exchange.
Instantly these clerks move as ono
man to the left desk adjoining their
own, deliver their papers, and receive
receipts. This completed the clerks
move to the next desk, and so on un
til each clerk has visited tho desks
representing all the members of the
clearing house. Millions of dollars
change hands In a few minutes with
out confusion, without a loud word
being spoken.
Settle Millions In a Few Minutes.
The packages of checks, drafts,
etc., are scrutinized, the validity of
tho checks determined, and the tens
of thousands of accounts aro bal
anced. The settling clerks add up
the amounts of tho checks they have
received and report their transactions
to the manager of tho clearing houso.
These morning sessions rarely last
more than forty minutes.
In a single day an average of 250,
000 checks pass through the clearing
houso and as many as 20,000 have
been presented by a single bank. In
point of clearances tho New York
clearing house Is the first In tho
world. It is therefore distinctly na
tional in scope'. In addition to tho
members of the New York clearing
house 140 other institutions more
or less allied to tho members, savings
banks trust companies, branch banks
etc., made necessary by increasing
volume of business exist in New
York. Their deposits today exceed
$2,000,000,000. The total deposits
in New York amount to over $3,000,
OOOiOOO. Tho New York clearing
houbo may be said to be responsible
for this sum.
Chicago Requirements More Rigid.
The Chicago clearing house is
operated on practically tho samo
course, but still being tho largest in
America outsido of New York.
Requirements for membership are
even more rigid than they aro in
New York, and sinco the failure of
tho Walsh banks thero is a special
bureau of examinations to supplant
the examinations made by tho stato
and national bank examiners. In its
operations tho Chicago clearing
houso is rigid to tho minutest detail.
No laxness Is permitted In any de
partment of any of its members.
To tho layman tho most (Striking
feature of the sessions of the Chica
go clearing houso is the punctuality
demanded of the representatives of
members. A system of fines is main
tained for tardiness, a' single mlnuto
being recorded against tho clerk and
a flno assessed, the fine Increasing as
tho length of tho absence increases.
MARSHFIELD IS
AGAIN W
Playing Was Excellent on Both
Sides First Score for
North Bend.
ENTERTAINED IN EVENING
Refreshments, Games and Program
Enjoyed by the Young Peoplo
, Roth Cities.
When you want Rollablo Hard
ware of Standard Brands go to Mil-ner's.
Receives Appointment.
Peter Loggie has received his com
mission appointing him a delegate to
tho National Rivers and Harbors
Congress to be held soon in Washing
ton, D. C. Tho appointment camo
from Governor Chamberlain and ia
a just recognition of Mr. Loggio's
merit as a Coos Day booster.
Fresh Olympla Oysters and
frozen Toko Point Oysters, hardshell
clams, fresh fish, crabs and smoked
salmon today. Tho Emplra Fish
Market, near Pioneer Grocery.
The third and last game of football
between the Marshfleld and North
Bend high schools took placo yester
day afternoon at North Berid. Marsh
field was victorious, as In tho two
other games, out tho North Bend
boys reduced the score nearer to an
equal than they did before. The
game was full of fine playing by the
boys on both teams, and everybody
played his part well. The score oi
11 to 2 likely shows the comparative
strength of tho two teams, as It Is
practically what it was before, except
for the fumble which gave North
Bend a safety. In the first half, the
Marshfleld team bucked tho ball
down the field and across tho line
without scarcely a stop. Briggs had
the ball on tho touchdown. Rns
mussen essayed the goal but, missed.
In the second half, the Marshfleld
boys got one touchdown, the samo be
ing scored by Welder. Rasmussen had
better luck this time and scored goal.
The safety occurred In the first half.
Tho ball had been worked close to
tho Marshfleld goal by tho North
Bend boys, and then they were held.
Rasmussen stepped back for a punt,
and the ball came to one side; It was
wet and slippery, and ho missed it.
The ball rolled on back of the Marsh
fleld goal and Rasmussen fell on It.
The boys report a very slippery field
and say It was covered with water In
many places. On the whole, the
game was a good exhibition and en
tirely satisfactory to both teams.
In tho evening, tho North bend
high school entertained tho Marsh
fleld contingent at the school build
ing. Here refreshments were served
and the young people enjoyed them
selves hugely. Each person was given
a favor, representing a football, with
tho program for tho evening written
inside. Tho cover was illuminated
by some artist of tho North Bend
school.
Tho program was as follows:
Address of Welcome. .. .Prof. Raab.
Instrumental Duet '.
. . . .WInnlfred and Mildred Rood.
Violin Solo Mr. Hovener.
Reading Nora Truman
Selection Girl's Glee Club.
Instrumental Duet
Misses Raab and Miller
Vocal Solo Edith Allge'rs.
Reading Miss Applegato
Song German Class'
The Marshfleld people were Invited
to mako addresses, and Prof. Golden
responded, as did Mr. Eric Bolt. Tho
Marshfleld peoplo speak very highly
of tho entertainment accorded them
and say It was a fitting finale for tho
football season. Among the amuse
ments tho two schools Indulged In
was the class yells given by each
school's supporters. Tho North
Bond pupils took ono corner of the
room and the Marshfleld pupils an
other corner, where they went
through tho string of yells and songs,
and It Is said the pandemonium was
marked.
mm "wl i "
ii '
: FOR :
itrakht Whiskey
AND A
quare Deal.
PHONE 481.
KANSAS CITY NEWSPAPER
MEN IN FIGHT
Richard C. lfornc, Discharged Editor
ial Writer, Shoots President and
Managing Editor.
Conio see tho now coat sweaters
at Geo. Goodrum's.
Kansas City, Nov. 23. As the
outgrowth of his discharge today,
Richard C. Ilorno, editorial writer
on tho Post, shot and seriously
wounded O. D. Woodward, president
of the Post Publishing company and
slightly wounded II. J. Groves, man
aging editor of that paper. Wood
ward is believed to bo badly hurt.
Tho shooting occurred in Groves'
private offlce.
Groves, who was shot in the fleshy
part of tho hip, is in a serious con
dition tonight. Surgeons fear blood
poisoning may result. Friends of
General Home tonight said tho shoot
ing resulted from a threatening man
ner assumed by Woodward and
Groves when they entered Home's
presence. These friends say Groves
and Woodward greeted Homo with
abuse and threatened him violence
before ho used his pistol.
Fall
Styl
Come see tho new coat sweaters
at Geo. Goodrum's.
Don't fall tp get Mllner's prices
on Shot Guns and Ammunition.
UPHOLDS FELLOW SERVANT
LAW OF MONTANA
Supremo Court Affirms Constitution
ality of Law Which .Makes Em
ployers Responsible.
Helena, Nov. 23. Tho supreme
court today affirmed tho constitu
tionality of the fellow servant act.
S. L. Lewis sued tho Northern Pacific
and ono of its engineers for heavy
damages for loss of his left hnnd
whllo an employe of tho railroad and
tho jury gave hlra a judgment of
$17,400. This amount was reduced
by tho district court to $10,0d0 on
grounds that it was excessive. The
railroad appealed, attacking tho con
titutlonallty of tho follow servant
act, under which tho action was
brought. Tho court's opinion upholds
tho legality of tho act and Lewis will
thus receive $10,000.
Put hi Out of Storm.
Tho schooner San Gabrlol which
camo into port yesterday plies be
tween San Pedro and Winchester
bay. Tho ship camo In hero to awoit
a favorable opportunity of getting
into tho harbor at Winchester bay.
Heaters and ranges at Mllner's.
Conio see tho new coat sweaters
at Geo, Goodrum's.
es
aro now on exhibition at this store.
Always aiming to lead in the
mattor of new ideas, we can show
you'the greatest stock of up-to-date
suits, cravenettes and overcoats .for
men and young men ever brought to
this city. You will find hero tho
nowest conceptions in fall clothes
a class of apparel which no other
store can show you. Wo feature
Alder's
Collegian
Clothes
nnd the' styles for fall wear aro in a
class by themselves.
Planz &
Rolandson
Wo can also supply you with
FULL DRESS AND TUXEDO SUITS.
Baechi's Bulldinff, 2nd Street.
SUNDAY MORNING SNAPS
i
SO-acre farm 10 miles from
Marshfleld, well Improved with new
7-room house furnished, good barn
with plenty of hay, dairy house,
dairy and farm implements, good
team of horses, wagon, harness,
buggy, 10 milch cows. Prico
$7000.00; terms, $4000.00 cash; bal
ance 1, 2 and 3 years, at C per cent.
Lots on Balnes St., $800. Titlo Guar
antee & Abstract Co,, Henry Seng
stacken, managor.
Retires From Race.
Tom Hall has requested tho Times
to announco tho fact that ho has
withdrawn from tho municipal cam
paign as candidate for mayor, and
ho say3 he wllj issue a statement for
publication next Tuesday morning.