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About The morning Astorian. (Astoria, Or.) 1899-1930 | View Entire Issue (Dec. 9, 1904)
2 THE MORNING ASTORI AN, ASTORIA, OREGON. FRIDAY, DKCIMItft 9, 1904. 1 ARE ALL RICH Controller of Currency Says This Is So. " ARE ALSO GROWING RICHER France U the Only Country Having Grtattr Circulation Par Capita But Haa Net Our Resource. Washington. Dec- t The forty second report of the controller of the currency atarts with a detailed state ment of the resourcea and liabilities of the national bank, aa ahown by the through European house. date the banking power of foreign countriea haa been estimated at $!, S1,Q00,00& thua ntaktnc the agirrt' gate banking power of the world ap proximately t3MO3.OOO.O0O. In conclusion, the report says; "The ftgurea given elsewhere In thla report show the moat marvelous growth In the volume of our Internal trade, our exports and Imports. The people- of the United Statea have become the richeat In the world and the national reaourcea of the country are so great that thla Is aur to continue and In crease for many years to come. The amount of bank clearings and depoalts and the money on hand In the banks Increases In every portion of the Uni ted Statea at a most remarkable rate. In aplte of all this however, we do not seem to be taking our proper rank and position In foreign and Interna tional bankings. One of the chief dif ficulties encountered by all merchants and manufacturers In extending their trade with foreign countriea and es pecially those of South America and of the Orient,' Is the lack of American banking facilities and the necessity of doing this business very largely Thla ranks ANARCHIST MEMBER Elected From the Fifth Conjres' t rv i a i ii i ? sionai uisirici oi Aiaoama. TO BE REFUSED ADMITTANCE Pretests Are Being Mad Against the Anarchist, it Being Alleged He Is Nat a Safe Man. five reports of conditions made In re- next In Importance to the queatlon of sponae to the call of the controller. In an American mercantile marine, as It commenting on this statement the con- Is one that haa a very great Influence tmlUr ava: Ths number of report-'on the volume and character of our Ing banks haa Increased from Sill on foreign trade. Aa long as the United Nov. 17, 1MJ. to 6412 on September t, Statea were experimenting with silver lsot and there haa been a gradual In- or a bimetallic standard that fact crease during the year of the aggregate acted aa a handicap In this direction, resourcea of the associations from (.- but now that the gold standard Is 31,42s,6 on September I, 10J to $,- firmly and Irrevocably established, we l7S.08f.50t. the increase being $4.- should be able to take ou place In in ISI.SS7. With the exception of the ternational banking transactions. New United States and other bonds on de- ,Tork should become more and more the posit In the treasury department to se- depository for International balances cure public depoalts and the holdings and exchange on New Tork be accepted of silver and of legal tenders, there more and more in all commercial cc-un- haa been an Increase in every Item of f tries of the world. resourcea, the principal Increase be ing In loans and discounts, amounting to 1244.704.(47, or from S1481.44c.77! to SJ.7J4.151.419. The Increase In bonds on deposit to secure circulation was J,MJ.80; other than holdings of specie, including coin certificates $107, 1I2.7S7. Bank Holdings. The banks holdings of specie and legal tender notes on September I, 1903, were SSS4.30I.02C and on September (. 104, the were S6(1,4S.S2. The paid In capital stock has grad ually Increased since September, 1903 from S753.722.SSS to S770.777.S54. or an Increase of S17.05S.19S. The surplus and undivided profits aggregate (583, 137.047. an Increase of S:.75.59S dur ing the past year. The deposits of the banks. Individual, government and bank, amounting to nearly 75 per cent of the total liabilities aggregated $5, 130,235,940, a net Increase during the year of S597.S04.C93. The law requires national banking association located in reserve cities to maintain a reserve of 2S per cent on their deposit liabilities and banks lo cated elsewhere, a reserve of 15 per cent On September C, 1904, the cen tral reserve city banks deposit llablli ties were S1.340.729.C85 and the re serve held 27.28 per cent; other re serve city banks, with liabilities of SI 1SS.73S.80S held a reserve of 25.39. the average for all reserve city banks be ing 21.41. On deposit liabilities of St. S04.4S7.117, the country banks held an average reserve of 17.21. The aggregate deposit liabilities of all actional banks, amounting to 14,- sOO.MM' Vr Protected by an aver age retervf f.3 per cent Few Failures. During the past year If national banks. Including one theretofore invol untary liquidation, were placed In the charge of receivers. Six of the assocl Ationt, however, have been restored to solvency and permitted to resume Busi ness, the receivers being discharged. Eight of the failures were 'due to fraudulent management or dishonesty of the cashiers. Within the past 12 months the af fairs of 15 national banks, theretofore placed In the charge of receivers, were fully settled by the payment of final dividends to creditors, leaving 73 pending trusts. Statistics relating to the aggregate stock of money in the principal coun tries of the world at the close of the calendar year 190S have been received and compiled by the bureau of the mint, from which It appears that the aggregate Is $12,313,100,000, the amount of gold being $3,028,200,000 of which $2,892,000,000 is held In banks and pub lic treasuries, $2,528,000,000 being in general circulation. The stock of silver aggregates $3,201,400,000 of which $2,288,700,000 is "full tender," and the remaining $932,700,000 limited tender. Uncovered paper currency Is stated as amounting to $3,473,500,000. Of the total stock of money In the world, $2, 600,200,000, or approximately one fifth, is held in this country. The stock of gold of the United States, $1,320,400,000, is greater than that of any other coun try and is nearly one fourth of the world's stock. The amount of sliver is $879,200,000. The per capita circu lation of the United States Is 30.70 and Is greater than that of any of the principal countries of the world except Prance, wherein it is stated $40.09. The circulation per capita of the va rious kinds of money In the United States Is as follows: gold $15.26; silver SS.3C and paper $6.17. Banking Power. The banking power of the United States, made up of the capital, surplus profits, deposits and circulation of banks of the United States and Island possessions aggregate $1,828,000,000. From the latest and most reliable Th Reason Why. One Important reason why our peo ple have not been more aggressive and taken a larger part . In International banking business has been the same as In many other lines of trade that Is. ttoat we have been too much ocupled with our own domestic business and there ha been a greater temptation to transact the business at home. which was easy to do and promised aa great or even greater profits. With the accumulation of capital and wealth this condition is greatly changed and there Is now In the Unl ted States abundant capital and talent for this business. If It Is given proper eneouragenment xne controller would therefore re commend that national bank having a capital of $1,000,000 or more and lo cated In the reserve cities or central reserve cities be specifically author! sed to buy and sell foreign exchange in which to accept bills drawn on them selves, payable not to exceed four months after sight and to Issue letters of credit; and also to open and main tain such offices, agencies or branches a may be necessary to conduct this business In foreign countries," Porto Rico, the Philippine Islands, the Ha waiian Islands and the Panama canal sone. It Is believed that this measure will tend to make closer the relations of the United States with each of Its possession and would be obviously to the advantage of both. Proposed Laws. The controller recommends that an act be passed repealing the limitation on the proportion of the circulation of any bank which may b Issued In notes of the denomination of $S. The scar city of notes of this denomination anJ th sTCftt convenience it ll to the banks in the smaller communities to be able to Issue notes of $5 to the amount of their whole circulation, aa formerly, leads the controller to strongly recom mend that this reduction be repealed. The controller again renews his recommendation for the repeal of sec tion nine of the act of July 9, 1882 which limits the amount of lawful money which may be deposited with the treasurer of the United States by national banks reducing their circula tion to $3,000,000 during any calendar month. Its repeal would add mater ially to the elasticity of the national bank circulation without any counter balancing disadvantages. The controller again' calls the at tention of congress to the necessity for legislation In regard to the liquidation land consolidation of national bank and the extension of their corporate ex istence. ' New Raee War. Allegheny, Penn., Dec. 8. A race war Is threatened In the high school here. Two girls of the school have refused to study or associate with a colored classmate, and they were told this evening that they must apologize to every one in the morning or be ex pelled from school. Vary and Jeanette Toung, daughters of A. B. Toung, one of the wealthy men of Allegheny, are the white pupils. Jean Hamilton, the only colored girl In the school, Is one of the brightest Hiss Lang, head of the school, said tonight: "Race prejudices will not be tolera ted here. The Misses Toung will do as I say, and will promise publicly to obey, or they must leave the school. Senator Cockrell evidently ha quite as good an opinion of President Roose velt as President Roosevelt entertains for Senator Cockrell, which goea to confirm the wise observation that flow ers which grow over the wall of party politics are beautiful to behold. Washington, Dec. 8. The sensation on the eve of the reassembling of eon gres la the strong effort being made to refuse admittance to the house of representatives of a member-elect from the Fifth Congressional district Alabama. Thla Is J. Thomas Heflln. who was elected on November S serve out the unexpired term Colonel Thompson, deceased. On Oc tober. 3. at Tuakogee, Ala tnthe course of a bitter and Incendiary speech aa sailing the republican party In gen erai ana Tneodore Koosevelt in par' Ucular, he ald: "There they sat, Rosevelt and Book er, and If some Ctolgos or any of his kind had thrown a bomb under the table no great harm would have been done the country." Other extracts from the speeches of Heflln have been collected and have been placed before each member of the house, and In a letter signed by Asa E. Stratton of Montgomery. Ala., accom panylng these extracts. It la said: "It la respectfuly submitted that J. Thomas Heflln should not be permitted to take his seat In the house as the sue cessor of Hon. C. W. Thompson from the Fifth Alabama district, because of his anarchistic utterance during the late political campaign." The writer mentions the Tuskogee spech, and continues: "He further said, In speaking of the possibility of Booker Washington tak ing part In the campaign: If Booker take hand in thla thing It will be one time I will ask him to step out. will ask him to keep hands off, and you know we have a way of Influenc ing negroes down here.' "It la reported that he aald on an other occasion. In speaking of the Statesboro (Ga) affair, that it was but a sending off of a few more re publicans, singing. Nearer, My God, to Thee.' a brutal allusion to the death of President McKlnley. The extracts are but in an Index to the man's character and life." The opinion which appears to pre vail among members here is that Heflln Is an unfit person to be In the house. but that to refuse him admittance would be to mnke a "martyr" of him. and thus gratify his taste for notor iety. It would not be surprising, how ever, If, when Heflln presents himself before the bar of the house to be sworn In, objection be made and, as In the case of Roberts of Utah, he may have to stand aside and await report of the elections committee as to whether he is a' proper person to admit to member ship. . BRITISH NAVAL CHANGES. Forty Useless Vessels Will Be Retired From the Service New Tork, Dec. 8. The admiralty win issue in a few days, according to a Times dispatch from London, a state ment of Its new scheme for the distri bution of the vessels of the British navy. The scheme contemplates the retire ment of about 40 vessels which. In the Judgment of the admiralty, are of lit tle value as warships. It also provides for the shifting about of useful vessels so that there shall be adequate forces In the various parts of the globe where It is thought that the British navy should be represented. " It is proposed, according to the cor respondent, that a unique compliment shall be paid to the American govern ment by practically Ignoring that coun try In the distribution of ships. It 1 probable that only two vessels will be stationed on the whole North American coast, one in Athaltic and the other in the Pacific. There may be not more than two vessels In West Indian wat ers. An admiralty official is quoted as saying: "While the relations between America and Great Britain remain as they are we do not need any warships over there. It would be a waste of money to keep any there." face of Angus, and It burned out his sight Shortly after he attained his ma Jority, Jungllng acquired an estate valued at $30,000, It waa said. On day Charles M. Schwab purchased paper from "Blind Tom" and gave htm a nvt dollar Din as a present, Angus, with this as a retaining fee, found young attorney In Jersey City who concluded that Angus could sue.' Suit was begun three years ago. The trial of the suit occupied a week, and a ver diet was given for Angus In th sum of $8,208. The case waa appealed, but th higher courts sustained the verdict Jungllng to avoid payment, endeav ored to take advantage of the Insol vent's act, but th young lawyer fought him In the courts, and had Jungllng put under $15,000 bonds. A few days ago Jungllng abandoned the tight he had carried on for three years. and aranged a settlement. Just what the amount Is haa not been told. Some Denver women have been ar rested, charged with buylivg other wo men's votes at $5 each, and It certainly looks as If $4.98 would be more reason able. The New York World thinks a man can live comfortably In that elty on an Income of $100,000 per annum. Speak ing of newspaper men, of course. BLIND TOM WINS. Suit Agq Brought Three Years 8ettlsd. Trenton, Dec. 8. A celebrated case In the New Jersey courts has been settled. It was the suit Instituted by Thomas Angus, better known as "Blind Tom," who sells newspapers at the Twebnty-thlrd street ferry house. Man hattan. Almost sixteen years ago, when Angus was a boy of nine years, his sight was destroyed inrougn me folly of a playmate, Willi" Jungllng, h mam few vears older. The latter had a phial that contained ammonia,! nr jt v. .,ri innii to smell it andl UV - B , then threw some of the liquid in the! Correct ClotkesfirUm Any affectation whatsoever in dress implies, in my mind, A flaw in the utoefstanding. Lard VkeiUtfuU to kino. No affectation in the apjparel bearing this jljitd5cnjaniin&(j MAKERS NEW yRK IJ Equal to 6iw- cufloro-mde in all but price, The Dialers' guarantee, and our, with every garment. J We are Exclusive Agents in this city. ASTORIA SAVINGS BANK Capital 1'alJ la 1100,000. Surplus and Undivided Profits 125.000 Transacts a general banking business. Interest paid on time deposit. J. Q. A. BOWLBY, 0. LTETEKSON, FRANK PATTON, J. W. OAKNER, . President - Vio President Cashier. AssUCashlsr Jft TENTH STREET, ASTORIA, ORE. First Natal Danh of Astoria ESTABLISHED i860 Capital and Surplus , $100,000 ASTORIA IRON WORKS r.LWUu),eniafy AUTUWA BAYINU8 SANK, Treat . Designers and Manufacturer, of THI LATKST IMMOVED CANNING MACHINERY, MARINE ENGINES AND BOILERS. COMPLETE CANNERY OUTFITS FURNISHED. CORRtSPONOCNCe SOUClTtfc Port of Fourth Stmt, , . . . . ASTORIA, OREGON. THE LOUVRE ACFirst Claw Concert Hall . . FinetIUwrt In The City ADMISSION FREE ATTRACTIVE PROGRAM CHANGE WEEKLY Seventh and Astor Streeb CHARLES WIRKKALA, Prop. 433XCommerdil Street Phone Main 121 Sherman Transfer Co. HENRY SHERMAN, Manager Hacks, Carriage Baggng Checked and Transferred Trnck and Furniture Wagons- Piano Moved, Boxed and Shipped. ANDREW ASP, BLACKSMITH. Having Installed a It abler Tiring Machine of th latest pattern I am prepared to do all kinds of work Id that Una at reasonable prices. Telephone S9L CORNER TWELFTH AND DUANE STREETS. m IjlIfMu ASTORIA, OREGON BLANK BOOK MAKERS LITHOGRAPHERS PRINTERS LINOTYPERS lost ete Printing Plant fn Oregon No Contract to Large. No Job too Small Book and Magazine Binding a Specialty