PACTS FOUK
ASTORIA, OREGON, WEDNESDAY, OCTOBER 26.
I5U
Cfte ItlornittQ JMorian
established 1873
4. published by ,
ASTORIAN PUBLISHING COMPANY.
RATES,"
By mail, per year .. . . . 1 . $G 00
By mail, per month , 50
By curriers, per pvnith 66
THE SEMI-WEEKLY ASTOltlANY
By m?il, per year, in advance
l 00
NATIONAL BANK FAILURES.
" A striking feature of Comptroller Rulgley's ail
dress before the Illinois Bankers' association is his
. declaration that "no national bank whose officers
strictly obeyed the national bank act, ever failed
not one." This statement is especially true of na
tional banks during the last 23 or 30 years, says the
New York Commercial. During that period the na
tional banking law has been strengthened and forti
- fled at every point where it seemed to be weak, so
that, if its present provisions are faithfully obeyed,
the failure of an institution that is chartered under
it is, except in extreme and rare cases, such as sud
den "runs," panics, defalcations or forgeries, prac
tically impossible.
The national banking system has now been in
operation about 42 years and there was undoubtedly
a period in the earlier history of the system when
many national banks, particularly in smaller cities
and villages, were loosely managed. The granting
f loans and discounts in these instances was left
largely, if not entirely, to the discretion of the
eashier or the president of the bank or perhaps to
both and, if the applicant for a loan chanced to be
a stockholder of the institution or a depositor who
usually kept a good balance,, the loan was often
granted with little investigation as to his actual
- financial standing or that of the endorser of his
. "paper." It was quite a common practice at that
t t i . i i i i
ume iur persons or cuiicr rus wnose loans nau aireaay
reached the 10-per-cent limit of the bank's capital
to which amount the national banking law express
ly restricts such loans to offer "straw" paper for
discount; and many banks, understanding fully that
the discounting, of notes, of this kind was aclear
evasion of the law but having 'faith m the solvency
f the endorsers, did not hesitate to grant loans
thereon. The result was that many of these insti
tutions; through losses incurred in this way, were
forced into bankruptcy. ; r ?
Ia recent years there has been a marked change
In the management of national banks in this respect.
Even the smallest classes of these institutions are
Beginning to see the unwisdom of conferring upon
ne or two persons the power to grant loans at their
deseretkm. The common practice among national
banks now" is to appoint a committee of directors
who meet daily or at frequent intervals and pass upon
applications lof loans and tor renewals of existing
loans. The wholesome effect of this policy is shown
ly Secretary Shaw s statement in his annual re
port to congress last December, to the effect that,
while 5147 national banks were in existence at the
Jose of the year ended with October 31, 1903, only
in r . At - . i ' . rt . ,
or less mail one-quarter 01 one per cent 01 ine
total ntaiber had been placed during that year in
the bands of receivers. This showing is in marked
ontrast with Secretary Shaw's statement that of the
tofa! number of national banks that had been organ
ized up to October 31, 1903, inclusive of those which
tad gone into voluntary liquidation, 5.6 per cent had
failed. These figures clearly indicate that nationa'
banks are now being managed more strictly in ac
cord with sound business principles and with the pro
visions of the national banking act.
I a pite of the improvement in bank manage
ment, Comptroller Ridgely's emphatic warning to
directors of national banks, that they should take a
more active part in the conduct of these institutions.,
is not untimely. In the last four years over two
Shonsand new national banks the majority of them
located ehieflv in the south and the west and bavino
individually a capital of $50,000 or less have been
rganized, and there is danger that some of them,
in the expectation of gaining business, may be tempt
ed ta follow the example of smaller national banks
in the east and the north a score or more of years
ago, and take risks in the matter of loans that the
atioHal banking law, either directly or by implica
tion, forbids. To the directors of sucli institution!
as may be thus inclined Comptroller Ridgely's ad
dress should be of particular interest.
ticians, who found popularity awaiting them when
ever they essayed to twist the British lion's tail.
Fortuuately, we are beginuing to view England
and the English people in a truer light than we
did a few years ago, says the Tneorna Ledger. Eng
land has been regnrded as the hereditary enemy of
America. But nothing was ever more absurd, and no
American who has lived in England but knows it.
England has never been the enemy of the United
States. As far back as the time of the revolutionary
war, her greatest statesmen and the bulk of her
people were on the side of the revolutionary fathers.
Even Horace Walpole supported the American cause.
The city of London in its corporate capacity pro
tested against the war. The death of Washington
was received with genuine sorrow, the official British
flags were lowered to half-mast, though only one of
our older historians II ildreth "was manly enough
to admit the fact. The attitude of England during
the civil war is now becoming more clearly under
stood, and the fact that England, refused to support I
Louis Napoleon s scheme for interference with the
north really saved the day. 1
England's attitude toward her daughter for
many years has been far more generous than the
daughter's attitude toward the mother. To cap the
climax of English good-will and affection, the Spec
tator, one of the leading organs of English,, public
opinion', looks forward to an American becoming
the archbishop of Canterbury, the official desiguat
ion of the head of the English church. Let Amcric
accept the friendly hand that has been proffered so
long.
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A POOR EXAMPLE.
Boys are guided largely by the habits of their
elders. The flippany lad, you may rvst aasured. has
observed and suffered by the ungentlcmanly conduct
of older people ; the boy who is possessed of the de
sire to gamble has seen older people engaged at the
vicious pastime. Boys look to men for their stand
ard and invariably follow the advice which is of-
ered by their elders.
In view of this fact, aud the further considcra
tion that a man of prominence ought to respect the
opinions of men and women, it is one of the wonders
of the wild west that a professional man of note in
the community will for hours employ his time indus
triously dropping nickels into a slot machine, so ab
sorbed in the noble purpose of winning a few cigars
as to be oblivious to the wondering stares of passers
by. And yet such a sight is not uncommon in As
toria. '.' ' - ,.
' That such forms of gambling have been ostra
cised in no cleaner cities than San Francisco, Port
land and many of fthe smaller communities of the
west seems not to , indicate to these men he pro
priety either of hiding themselves in a back room,
where boys are not apt to be encouraged to1 gamble
by their example, or of assuming sufficient dignity
to pay for their cigars, as honest men should. Busi
ness and professional men, good or bad, are the
standards by which the rising generation very
largely guages its ambition. The doctor, lawyer
or merchant who occupies a prominent position be
fore the public owes it to patriotism and to common
decency not tg be known either by old or young as
a gambler or a user of intoxicants or profanity.
Society expects this much, at least, from every
man, and it is lamentable that prominent citizens
should be lax in their duty.
RELATIONS BETWEEN AMERICA AND
ENGLAND.
D. Mfnot J. Savage, of New York, in his sermon
last Sunday, advocated a union of forces between
England and America for the purpose of preserving
the peace of the world. A few years ago this ut
terance would have been received with an angry out
nrst of denunciationj-especially on the part of poli-
Raisuli, it seems, is rather small potatoes at
home, and not the terror he was thought to be. He
made large demands while his captive was in his
hands, and this tended to increase the outside es
timate of his importance. He got none of the prov
inces .which he asked for in, his terms of settlement,
but he did get the money $70,000 and hangs on
to it yet. There is a price on his head, and the pros
pect that it will stay long on his shoulders is held
in Morocco to be a slim one.
Major Langfitt does not know what caused the
shoaling of the Astoria harbor, but is sure it was not
caused by the dredging operations in the cut-off
channel. A great many Astorians, on the other hand,
know what caused the shoaling, and they are sure
the dredging operations in the cut-off channel were
responsible. The circumstance demonstrates to
nicety that the blindest man is the one who will de
cline to see. . r ' .
P.A.Stohes
for
"Swell Togs
Men"
THIS IS A CUT OF
our swell ..Hotted
Back Overcoat' fiAy
two inches long ami n
fuvorito with the "know,
how to dress man." It
is a coat that wo liavo
in all patterns, motor
ials and weights.
$io.
TO
$30.
Of course we have the
ever popular "tonkote"
and Chesterfields, i
Melton's, Beavers,
Thibets, Coverts and
unfinished worsteds.
Why spend time and
aggravation in going
to a tailors when you
can step in here and be
fitted with garments
that equal the produc
tion of a swell city tai
lor at half the cost.
Hi
P0m mi
V.'s7i4V:v. " -i-i III
1 vVf
iMf
-j ' '! i.
Coats
o
o
2:
o
o
o
T HIS IS A OAl
I incnt that evorv O)
- J r.
gentleman needs and q
jive think wo 4tnve the
'Ijwollcst lino of Rain j
' Coats that ever enmo q
' into Astoria. "Every
garment is guaranteed 2
to shod water, and they
fit, look and take the
place of an overcoat.
We fecl certain that
should you need a gar
ment of this kind you
will do well to inspect
our stock. They are
tailored right and
priced right.
pf ... www g
5 9 1
Copyright i 904 by
Hart Schaffner tf'Mirx
P. A. Stokes 1
"Swell Togs for Men"
0000000000OSO000030e00 0$)OiX
SHOES
That is our subject.
We can interest you
in shoes. We have
shoes : ' : : : r-
For Everybody
and no house in As
toria can sell better
FOOTWEAR or at
lower prices. : : .:
S. A. GlfilRE
543-545 Bond St.
England, finding that too many people arc killed
or injured by automobiles on its common roads, is
talking of opening up the old Roman roads of the
island for the exclusive use of automobilists., They
will thus have a chance to kill each other only to
make an automobile holiday. '
J. Edward Addicks does not care what the people
and the magazines say about him so long as he is al
lowed to retain his hold of the franchises, industrial
and electoral.
The Presbytery at Lima, O., has removed all of
its colored members. There seems to be need of a
14th amendment to the church creed.'
Anyway, the Russian fleet found something it
could lick. . ;
THE PACIFIC
LUTHERAN
ACADEMY
does not claim to be the cheapest
school on the Pacific coast, but it
aims to be the best of its kind.
It has made it a point to secure
good teachers, knowing that a
foor teacher is dear at any price,
t has made provision for a good
library and laboratory and other
school equipment, knowing that
even & good teacher cannot do
his best without these aids.
The school is therefore in a po
sition to offer advantages to young
men and women such as only
comparatively few schools on the
Pacific coast can offer. Our new
catalogue will give full informa
tion. Send for it Address
DEPARTMENT B,
PACIFIC 1 LUTHERAN ACADEMY.
Parkland, Wash.
YOUR LAST CHANCE .
for reduced rate Chicago-St' Loult
round trip ticket. Sale dates, Octo
ber 27th, 88U and 2th , only. Any
route Roitijr and the anme or any
othr route returning. Call 011 or
adilreaa
n. If. Trumbull Commercial Agent
Illlnola Central Railroad Co.
Portlund, Ore.
CALLED HOME TO FIGHT.
Japaneie At Honolulu Will Take Firat
Boat For Horn.
Honolulu, Oct. ii, P.' M. A large
number of Jnpnneae army reserve
men residing here have received noti
fication by cable from the military
authorities In Jnpun calling them
home for army aervtce. It Is be
lieved that two or three hundred men
will try to aecure paaaage on the next
steamer leaving here for the Orient.
(V , Remeva) Notloa. . ,. . t ,
Dr. X A. Fulton baa moved from
his old offlca to rooms 4, t and I In
the Star theater building, comer Elev
enth and Commercial1 streets, on the
second floor.
REBELLION IN TANGIER!
Fortified City of Lartaghe In State of
New York, Oct. 25. Larasche, a for
tified seaport of 4000 Inhabitants Is J Chaa. Rogera. Trial bottles fret.
now bcsclged by the rebellious Huhul
klubylits, auys a llernld dlnpatch from
Tangier.
The European Tealdotita, feurlng an
aasuult, have appealed . to the foreign,
legations for auxiliary force.
A Lava Latter.
Would not Interest you If you're
looking for a guarantes1 aalva for
sores, burns or plies. , Otto Dodd of
Ponder, Mo writes: 1 suffered with
an ugly sort for a year, but a bos ot
Ducklen's Arnica Salve cured mo. It's
the bast salvo on earth. 2 So at Cbaa.
Kallunkl baa fine candles, up-to-now
bonbons and fret a fruits.
, , Saves Two From Death.
"Our Ilttlo daughter had an almost
fatal attack of whooping cough ana
bronchitis,- , write Mrs. W. K. IUv
Hand of Armonk, N. T, "but. when all
other remedies failed, wo saved ber
Ufa, with Dr. King's New Dlacovery.
Our niece, who bad consumption In an
advanced stage, also used this won
derf ul medicine and today ah la per
fectly welL" Desperate throat and
lung diseases yield to Dr, King's New
Dlacovery as to no other medicine on
earth. Infallible for coughs and colds.
6O0 and $1.00 bottles guaranteed by
AN ASTORIA PRODUCT
Tale Bohemian Beer .
Best In The Northwest
North Pacific Brewing Co.
H lIIIIIIAIIIllfIITTTTTTAAAAlilllllllitttttrTTTTTA
Staple and Fancy Groceries
FLOUR, FEED, PROVISIONS, TOBACCO AND CIGARS.
Supplies of All Kinds at Latest Price for Flih.rm.n, Fam.r
and Loggera.
Branch Uniontown, Phones, 711, . Unlonlown, 713
A. V.ALLEN,
Tenth and Commercial Streets. ASTORIA. ORlflON.
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PLUMBING and TINNING !
STEAM HEATING, GAS FITTING, ROOFING AND REPAIRING
BATH TUBS. ftiMtra riAtm ...... ...
. , was , nrtu v inert riAiUKa.0 111 v
STOCK. ONLY THE BES T. call amh art mm ooirra
- w w is a ibsww
AZi Bond $tr
: Phone 1031 5
J. A. Montgomery
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