Bemidji Daily Pioneer Newspaper, October 25, 1907, Page 4

FARMERS' INSTITUTE TO BE HELD IN BEMIDJI NOV. 2 One Day Session of Practical Demonstration of Farming for This Section of the Country.---Good Speakers for the Occasion The Pioneer is in receipt of a let- ter from A. J. McGuire, superinten- dent of the State Experimental Sta- tion at Grand Rapids, in which he states that he and Prof. A.D.Wilson, superintendent of the Minnesota Farmers’ Institute will hold an in- stitute at Bemidji on Saturday,| November 2nd. It is announced that the institute will be for one day and that Super-| intendent McGuire and Mr. F. B. | McLeran of Wrenshall will be the speakers. Both these gentlemen are thor- oughly familiar with the agricul- tural conditions of northern Minne- sota and their lectures and ad- dresses will be practical as regards agricultural interests of this section of the country. Farmers’ institute work in Minne- sota has become a permanent insti- tution in the improvement of farm work, breeding and caring of stock, dairying, horticulture, etc. This work is all free and the ladies and young people,7as well as the middle aged and elderly are espec- ially requested to attend these meetings. —_—- Taxes Due. Parties who paid one half of their taxes before May 31st should bear in mind the other half becomes due on October 31st, and the taxes should be paid before that date. If not paid by Nov. 1st, the additional penalty of ten per cent will be added, as well as the further penalty of five per cent after December 31st. | ULTIMATE GOOD EXPECTED| Prench View of the “Ho in Wall Stree Parls, Oct. 25.—The financial crisls in the United States is having a sem timental rather than a practical effect | here. The papers are devoting much space to “the Wall street cragh” and “the slaughter of American million- aires” and operators on the bourse are closely watching the situation. Naturally there is some apprehension, but the French bankers point out that there is little actual speculation here in American stocks and that as Amer- {can credit bills were practically re- Jected six months ago they are in a position to “witness the house clean- ing in Wall street” in a more or less Cleaning | impersonal way. Besldes they con- sider that the American financial con- ditions are sound at the base and re- gard the crisis as being the inevitable culmination of an era of intense com: mercial activity and over speculation, helped along by the revelations of im- proper methods of finance and the position assumed by the authorities at ‘Washington. Some of the French bankers think President Roosevelt has gone too far and that the whole fabric of American credit has been endangered, but the majority view “even the heroic elimination of ques- tionable elements and methods” as being ultimately to the advantage of the United States both at home and abroad. BRIEF BITS OF NEWS. ‘The Duchess of Marlborough has arrived at New York, The Chicago-Denver roads on Nov. 10 are going to reduce the running time of their fast trains two hours. Members of the Western Assocla- tlon of Electrical Inspectors are hold- ing their annual convention in St. Paul. At Fort Wayne, Ind., Packy McFar- land of Chicago got the decision over Kid Goodman of Boston at the end of a fast ten-ronnd bout. Mun sing Underwear The sensible, serviceable, satis- factory, perfect fitting kind for men, women and children. Our trade each season underwear; it’s the most sati sold. It fits well, looks wel has grown on this popular isfactory underwear we ever land wears well. Our cus- tomers who have worn it will buy no other kind. It’s made right and priced righ t. We recommend it to all our trade as the best popular priced knit underwear on the market. (’Leary & Bowser Bemidji, Minn. Stationery Up To Date Goods. The Bemidji Pioneer The Right Place fo Get It. The Pioneer in putting in this stock gives the People of Bemidji and surrounding country as good a selection ag can be found in any stationery store Departm’t Well Selected Stock Type Writer Supplies ‘We carry a line of Ribbons for all Standard Machines, either copying or record; Type Writer Oil, Carbon Paper, Box Type Writer Paper from'80c per box of 500 sheets up to $2.00. Paper Fasteners The best and most complete line of fasteners to be found any where. We have the Gem Clips, Niagara, “O K,” ‘Klip Klip,” Challenge Eylets and other va- rieties. Pencils In this line we carry the Fa- ¥ bers, Kohinoors, Dixons, in black, colored or copying. We have the artist’s extra soft pen- cils as well as the accountant’s hard pencils. Blank Books Our blank book stock is a carefully, selected line of books. Special books' ordered on short notice. Our specialties are handy books for office or private accounts. We are glad to show job stock and .invite you to call at the office. The Bemidji Pioneer you our stationery and ALL WORK TOGETHER Great Generals of Finance Try ing to Restore Confidence, MONEY IN URGENT DEMAND Bearcity of Funds to Carry Margined Stocks Results In Heavy Selling and Precipitate Declines in the Price of Securities. New York, Oct. 25.—With all the great generals of finance and the sec- retary of the United States treasury ncting in accord to restore public con- fidence In the banking and trust com- pany situation in this city sentiment took on a much more cheerful tone in Wall street and distinct improvement was visible in all quarters of the finan- clal district. The day opened with optimistic statements from officials of the Trust Company of America and up to 2 o'clock in the afternoon that institution was paying all checks pre- sented as rapidly as possible. A wel- come feature of the company’s affairs was that large deposits amounting to considerably more than $1,000,000 were made during the morning hours. John D. Rockefeller deposited $10,- 000,000 with one of the city’s oldest trust companies to be used in extend- ing ald to such trust companles as might require fit. The failure of three small up town banks had some ill effect on the gen- eral situation. Albert C. Judson, a state bank ex- aminer, announced that the Hamilton banlk, the Twelfth Ward bank and the Empire City Savings bank, all of which suspended payment, had been found to be entirely solvent. Mr, Jud- son safd: “All three institutions are perfectly solvent. The Hamilton and the Twelfth Ward banks suspended for lack of ready cash. The Empire City Savings bank took advantage of the thirty-day clause allowed to savings banks.” The stock market opened buoyant under the improved tone. In the later dealings weakness developed, due to the fact that brokerage houses were reducing their lines of stock carried on marging on account of the tight- ness in the money market. Call money was still in urgent demand. It opened at 60 per cent and advanced to 100 per cent. Unlon Pacific Sells at Par. The stock market turned very weak shortly after 2 o’clock, Union Pacific selling down to par, a decline of 8%. Reading sold down 8 points, Northern Pacific declined 9, St. Paul 6 and Bouthern Pacific 4%. There was no news to account for the decline except the scarcity of money supplies and the advance in the money rate to 100 per cent. It was announced on the stock ex- change that a pool had been formed which would supply the brokers with all the money required to close their operations. There were violent, feverish rallies In the stock market following the de- cline, Union Pacific rising in a few minutes to 105 and Reading to 76. Prices jumped a full point in some cases between sales. Northern Pa- cific rallied 4% and Amalgamated Copper also rose 3% from the lowest. At 2:25, following the announce- ment of a pool organized to satisfy money requirements on the stock ex- change, call money was lending at 10 per cent. The amount of the pool loans made in the stock exchange was about $25,000,000. There was an unusual scene at the stock exchange at the closing hour. ‘When the brokers realized that it was 8 o'clock and that the trying day had been passed without serious difficulty they gathered in the center of the big exchange and gave three cheers for J. P. Morgan, whose action in form- Ing the money pool that came to the rellef of the market at 2:15 had turned the tide at the moment when prices were ebbing away with alarm- ing rapidity. INSTITUTION IS SOLVENT. Hamilton Bank Closed Until dence Is Restored. New York, Oct. 25.—The Hamilton bank in West One Hundred and Twen- ty-fifth street has suspended payment to depositors, A notice posted on the doors of the bank announced that the bank was solvent, but in justice to de- positors payment had been suspended until public confidence in banking in- stitutions was restored, E. R. Thomas, who was assoclated with F. A, Heinze and Charles W. Morse in several banks and financial ventures, was formerly president of the Hamilton bank, but resigned after the break in United 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 director and William R. Montgomery was elected president. The bank has a capital stock of $200,000 and depos- its of abott $7,000,000. The bank has four branches in New York city. Confi. Uneasiness on Tokio Bourse. Toklo, Oct. 26.—Meager reports re- garding the financial situation in New York, received by way of London and published here, have created uneasi- ness on the Tokio bourse, which has been in an extremely depressed con- dition for several months. Americans here are eagerly seeking further in- formation. BIG DECLINES ON MARKET Prices Open Higher but Later Drop Sharply. New York, Oct. 26.—The stock mar- ket opened strong and higher. First sales Were of Smelting at 69, an ad- vance of 1 point; Baltimore and Ohio 81, a galn of 21 points; Atchison 76, an advance of 2 points; St. Paul 107%, & gain of 1 point, and Reading 79%, & gain of five-eighths. Stocks did not hold their opening advances and there were indications of & renewal of forced liguidation in [ DFFFE IVVE DA™ some stocks. Missour! Tacific wad forced oft 4 points and Manhattan 414, Wide declines In active stocks Were Federal Mining preferred 20, In- ternational Pump preferred 6, New York Alrbrake 5, Corn Products pre- ferred 4% and Baltimore and Ohlo preferred 8%. Pennsylvania, Norfolk and Western, Reading, Delaware and Hudson and the Hill and Harrlman stocks Were sharply reactionary, Read- ing dropping 3% and the others men- tloned 1% to 2. Call money opened at 50 per cent. The decline in prices after 11 o’clock became more precipitate, goiion Pa- clific gelllng down to 106%, t. Paul to 102%, Northern Pacific to 106, Read- ing to 76% and Atchison to 73. During the afternoon a pool of banks furnished a large amount of money at usual rates and stocks ad- vanced rapidly. The advance pro- ceeded for a time amld great excite- ment, rallying Union Pacific 6 points, Northern Paclfic and Reading 5%, Great Northern preferred 5 and Amal. gamated Copper 4. The market then suddenly relapsed into dullness and prices ylelded somewhat, Run on Providence Bank, Providence, R. I, Oct. 25.—Depos- ftors of the Union Trust company in this city began about noon withdraw- ing their money. Before the close of banking hours large numbers had been paid. Marsden J. Perry is pres- ident of the Union Trust company. Mr. Perry is also connected with the Trust Company of America, the New York Institution which for two days has withstood an unusually heavy drain. PITTSBURG FLURRY OVER Stock Exchange There Remains Closed, However. Pittsburg, Oct. 25.—As was expect- ed the Pittsburg Stock Exchange re- mained closed during the day. Short- 1y before 10 a. m. the members were called together by Secretary Holman, who announced that the board of di- rectors had decided to suspend trad- ing for the day. In well informed cir- cles it is believed the exchange will not resume business until next Mon- day. The local financial situation is in good shape and is under perfect con- trol, according to statements made to the Associated Press by prominent bankers. Without exception all say that Wednesday’s flurry has passed and that the situation at present is brighter than it has been for a week. The suspension of the Iron City Trust company and the appointment of receivers by the United States court for the institution has had no apparent effect on the situation. At the head- quarters of the company in the West. Inghouse building there is no appear- ance of the failure. It is known that the Iron City Trust company was liqui- dating for the purpose of going out of business. When the embarrassment of the Westinghouse companies be- came public it was feared a run would be made on the trust company and it was decided to place the institution in the hands of a receiver. FOLLOW THE HAMILTON. Two Other New York Banks Close Their Doors. New York, Oct. 25.—Following the announcement of the suspension of the Hamilton bank came the news that the Twelfth Ward bank, located at One Hundred snd Twenty-fifth street and Lexington avenue, had sus. pended payment. The Twelfth Ward bank is a state institution and a state bank examiner will be placed in charge of its affairs. According to s recent statement the institution owed depositors about $3,000,000. The Empire City Savings bank, lo cated at 231 West One Hundred and Twenty-fifth street, has posted a no tice announcing their suspension for thirty days under the banking laws The officials of the bank declare that the institution is entirely solvent, but that they decided to avail themselves of the thirty days’ notice of with- drawal under the state law because they feared a run owing to the sus- pension of payment by the Hamilton and Twelfth Ward banks in the same neighborhood. The Empire City Sav- ings bank, according to a recent state- ment, owed its depositors about $3,- 800,000. Appeal In Rebate Case. ‘Washington, Oct. 26.—A petition for a writ of certiorari for the transfer of one of the rebate cases of the United Btates against the Great Northern Rallroad company was filed during the day in the supreme court of the United States. The case arose out of the alleged granting of rebates by the railroad to W. P. Devereaux on fitteen shipments of goods from Min- neapolis, Minn., to Seattle, Wash., and the district court of the United States for Minnesota found the railroad gulity on each of the counts and im- posed a fine of $15,000. Legal Holidays In Nevada. Reno, Nev., Oct. 26.—Owing to the general feeling of unrest that pervades financial circles Governor Sparks has declared Thursday, Friday and Satur- day legal -holidays. . All the banks throughout the state are taing advan- tage of this respite to get their affairs in such shape as to make a failure im- possible, Prisoner Commits Suicide. Merrill, Wis,, Oct. 25.—George Mark, arrested on a charge of embezzlement while acting as station agent for the Milwaukee road at Helnemann, near here, cut his throat with a jackknife during the night in the county jail. He was found dead by the guard in the morning. French Subscriptions Returned. Paris, Oct. 25.—On account of the appointment of receivers for three Westinghouse companies of Pittsburg the Soclete Generale has ceased ac- cepting subscriptions for the com- pany’s 5 per ¢ent 1917 loan and is returning the subscriptions already recelved. PLAYS TO GALLERIES Charles G. Dawes Criticises De- partment of Justice, DEFENDS MEN UNDER LASH Asserts That Favoritism ls Being Dls- played In the Selection of Comblina- tions to Be Investigated and In) the Manner of Attack. Chicago, Oct. 25.—Delegates to the Natlonal Civic Federation convention are eagerly discussing the remarks made at the meeting by Charles/G. Dawes, ex-comptroller of the currengy. Mr. Dawes made a sharp attw'ck upon the federal department of jjis- tice, virtually charging the office |of the attorney general with making “gallery plays.” He said in part: “I can not say that it is intentiomal on the part of the department of jhs- tice, but some of its actions look fe- markably as if favo displayed in the se binations to be in manner of attack. ion of the cojm- tigated and in t'he is in the public eye and an attack upon him will always win publicity, It is remarkable that the cases handled by the department {of justice always are tried in the nevs- papers Defore they get into the courts. | The speaker also criticised the magazine writers, who, he said, malde @ practice of attacking the men who accomplished great things in the mer- cantile and financial world. He then cniered upon a defense 0 the fmaunciers of New York, asserting that many of the men who have borne the lash during the last four years are doing a v for the good of the comntry the value of which it is hard iing,” he said, “to up- hold ihe ered which prosperity rests. Tlhev are secking to save the opportunii= for the profitable contin- uance of men who landle merchan- dise, 1 manufacturing enter- all other walks of life.” on My, Dawes urged the amendment of the Sherman anti-trust law. MORE [:CNEY FOR BANKS Government Will Deposit $25,000,000 in New York. New Yok, Oct. 25.—The United States sib- ¢ has put into effect Secretary Cortelyow's promise to make further ts, amounting in all to $25.000,000, in the New York As by the banks the deposited United States them, the supply heing m: ast as collateral was of- sub-treasury funds with ned by from.the It was announced early in the aft- ernoon that Jehn D. Rockefeller had deposited $10. 070 with the Union Trust company of the city's ol est and strongest trust comranies, the money to be nsed by that comn aiding the trust company generally. About 300 de itors of the Lincoln Trust company were waiting at th doors of that institution when if opened for business. As the weathe: was cold the de (rs were becom ing impatient when Tonis Stern, ¢ leading d 0ods merchant and » director, arrived, followed by a s of cabs ¢ 1T messaneers & Heavy loads of old and currency, which was carried Into the bank in view of the depositors, Mr, Stern sald the company would yay every depos {tor who wanted his money, OWNS MANY INDUSTRIES. Petition In Bankruptcy Against South- ern Steel Company. Birmingham, Ala.,, Oct, 25—An in- voluntary petition in bankruptey was filed in the federal court here against the Southern Steel company. The creditors seeking the bankruptey or- der are the Birmingham Coal and Tron company, the Sayre Mining and Manufacturing company and the | Cahaba Coal comp The Southern Steel company is capitalized at $25,- 000,000 and owns a big steel plant at Gadsden, steel rod, wire and nail mills at Ensley, coal mines at Altoopa and Virginia City and ore mines through- out the Birmingham district, as well &s coke ovens and other properties. Moses Taylor of New York is pres- ident and E. T. Schuler of Birming- ham general manager. The petition filed in court here al- leges that the company committed an act of bankruptey in acknowledging, in writing, its inability to pay its debts, It is also averred in the peti- | tlon that the defendant company has been insolvent for six months. The filing of the petition was no surprise | In local financial and industrial eircles, : where some such action has been | looked for for some time. Fisherles Company Insolvent. Philadelphia, Oct. 25.—Local bank- | ing and business circles received a surprise during the day When it be- came known that the Fisheries com- pany, a corporation which is the prin- cipal factor in the Menhaden fishing industry, with offices in this city, has | been declared insolvent and temporary | receivers appointed. Joseph Wharton of Philadelphia, the millionaire iron merchant, is president of the com- pany. | Five Men Drowned. Seattle, Wash,, Oct. 25—Five men were drowned at Katalla, Alaska, Oct. 13, according to information brought by the British steamship Saratoga. The dead are: J. Higgins, Seattle; H. Hendrickson, Portland; Edwin Olson, Arthur William and Toni De Pasqual, ™ MARKET QUOTATIONS. Minneapolis Wheat. Minneapolis, Oct. 24—Wheat—Dec., $1.01%:@1.01%; May, $1.01%. On track—No. 1 hard, $1.06; No. 1 North- ern, $1.05; No. 2 Northern, $1.01%@ | 1.02; No. 3 Northern, 9815c@$1.001%. St. Paul Union Stock Yards. St. Paul, Oct. 24—Cattle—Good to | choice steers, $5.50@6.50; fair to good, | $4.00@5.00; good to choice cows and heifers, §3.50@5.00; veals, $4.00@5.75. Hogs—§5.25@5.6 Sheep—Wethers, $4.75@5.00; yearlings, $5.50@5.90; | spring lambs, $6.25@6.50. | Chicago Grain and Provisions, Chicago, Oct. 24—Wheat—Dec, 83% @98%c; May, $1.05%. Corn— Dec., 67c; May, 59% @593%tc. Oats— | Dec., 50% @50%c; May, 52%ec. Pork | —Jan., $14.75; May, $15.05. Butter— Creameries, 28% @27%c; dairies, 21@ | 25c. Eggs—17%@20%c. Poultry— | Turkeys, 13¢; chickens, 8%¢; springs, | 9%ec. Duluth Wheat and Flax. Duluth, Oct. 24.—Wheat—To arrive and on track—No. 1 hard, $1.063%; No. 1 Northern, $1.05%; No. 2 North- ern, $1.02%; Dec, $1.05%; May, $1- 10%. In store—No. 1 Northern, $1.- 043%;; No. 2 Northern, $1.01%. Flax —To arrive and on {rack, $1.23%; Oct,, $1.23%; Nov., $1.23%; Dec., $1- 21: Mav, $1.26. Is Your' Hair Falling Out? | A few hairs here and there are not missed, but it won’t be long before they will be leaving g in such large quantities that you will regret the fact that you haven’t done something to pre- vent the ultimate end—baldness. Rexall “93” Hair Tonic promptly stops falling hair, cures dandruft and will stimulate a new It has done so or others. Itwilldoso for you. It is not sticky or gummy ; “will not thicken on the hair; does not become rancid ; has no disagree- able odor; is clean and agreeable rowth of hair. to use. At our store, only fifty cents a bottle. » Satisfaction guaranteed or money refunded. BARKER’S DRUC STORE A REASON Why we guarantee Rexall Renglle‘dies. — We, believe that The United Drug Co., the proprietors of the Rex- all Remedies, have in- augurated a perfect system of supplying ready-made prescrip- tions. They make 200 remedies under the tradename “Rexall.” Each remedy is a well- tried recipe of a famous physician who is a specialist in his line, Used by Millions Galume Baking Powder Gomplles with the Pu Food Lawsof every Stece. WANTS ONE CENT A WORD. HELP WANTED. WANTED FOR U. S. ARMY: Able- bodied unmarried men, between ages of 21 and 35; citizens of United States, of good character and temperate habits, who can speak, read, and write English. For information apply to Recruit- ing Officer, Miles Block, Bemidji, Minn. WANTED: Three carpenters. Long job. Apply to Kreatz, the contractor. WANTED—Dishwasher. Will pay $20 per month. Hotel Brinkman. WANTED — Chambermaid and laundry girl. Hotel Brinkman. FOR SALE. A AN FOR SALE: One 12-horsepower gasoline engine, one 4-horse- power gasoline boat, one National double-drawer cash register, one buck-board. Apply to E. G. Leonard, Bemidji. FOR SALE: Fine lot of Plymouth Rock Pullets and Cockerels. Come early and take your choice. Will make excellent winter layers. C.H VanDeVord, 12I8 Beltrami Ave. FOR SALE—Rubber stamps. The Pioneer will procure any kind of a rubber stamp for you an short notice. FOR SALE: Driving team; span of mares; in good condition. Apply to A. E. Rako, Bemidji. FOR SALE—Magnificent moose head mounted; will be sold cheap. Inquire at this office. FOR SALE: Small house and stable. Apply to Thomas Smart. LOST and FOUND CHECK LOST: Check No. 3259, issued Oct. 12 on Lumbermen’s National Bank of Bemidji by Dr. R. Gilmore and in favor of W. R. Mackenzie has been lost and same has been declared void. Finder please return to Dr. Gil- more. LOST: FOUND—Society emblem pin. quire at this office. FOUND: Yale key. Inquire at I 0. O. F. watch charm trianguler shape. Finder leave at this office for reward. In- Pioneer office. AN AP FOR RENT: FOR RENT. Six room cottage. Apply H. A. Miles 413 Bemidj Ave., or phone 8. FOR RENT: Seven-room flat, over Bijou theater building. Apply to A. Klein. MISCELLANEOUS. B e VPTG PUBLIC LIBRARY—Open Tues- days, Thursdays and Saturdays, 2:30to 6 p. m.,, and Saturday evening 7:30 to 9 p. m. also. Library in basement of Court }'Iouse. Mrs. E. R. Ryan, librar- ian. Want Ads FOR RENTING A PROPERTY, SELL- ING A BUSINESS OR OBTAINING HELP ARE BEST. Pioneer