Bemidji Daily Pioneer Newspaper, November 5, 1910, Page 6

i S— 4———7_7:__—-——————_———_—-——————-————————— NO BID ON BONDS | OF NEW ORLEANS Gity Unable to Obtain Funds For Proposed Improvements. MUCH DISAPPOINTMCNT FELT Municipal Betterments to Cost Seven Million Dollars Likely to Be Held Up Indefinitely—Looks as 7hough the Crescent City Was Hardly In a Position to Flnance & World's Exposition. New Orleans has no bilders for her $7.000,000 of sewerage ronds and water bonds and it looks as though her greatest project for muaicipal im- provement would be held up indefi- nitely through lack of funds te pros- ecute the work. It would seem as though New Orleans was hLardly in a position to finance a World's expo- sition, even with the 2aid of the state of Louisiana, when her local tankers refuse to purchase her ionds on their own terms. Tht financial predicament of San Francisco’s rival for expositicn hon- ors is toll in the following rress dis- patch from the Crescent City: “New Orleans, La.—Oct. 4.—De- spite several months of n-=zotiation through the Hibernia Bank and Trust company, and in spite of . specia! act of the last legislature to facili- tate the financial negotiations, whe: { nasits of the 'states are: 13 to 1 in the city board of liquidation met at noon today there was no bid for the 37,000,000 improvement ‘bovas by which the great sewerage and water project of this city was to have been been completed. “Much disappointment is felt at ‘the failure of the bonds to sell, as this great municipal project may be seriously delayed. Mayor FHehrman .and City Attorney I. D. Moove both issued statements tonight explaining the reasons. “About a year ago, the Ipterstate Bank and Trust company ogreed to ‘finance the $7,000,000 bond issue pro- vided it was given the benefit of be- ing the depository of the funds col- lected at 2 per cent interest. The contention was raised that -Le bond taker could not be the dencsitory. Then a legislative enactment was se- cured to make it legal for the buyer to become the fiscal agent of the funds, but still the bonds are unsold.” BOND INTEREST EQUALS TAX Louisiana Exposition Securities Will Be Unpaid at End of Ten Years. The following press dispatch, pub- Mshed in the New Orleans Times: Democrat, is self-explanatory: “Crowley, La., Sept. 23.—A petition to the voters of Acadia parish is be- ing circulated, calling upon the voters to register, in order to be i1 a posi- tion to vote against the Panima ex- position tax, Nov. 8. The petition recites that, according to the state- ment, the country parishes are as- sessed at $204,373,526 and the city or parish of New Orleans at %231,045, 937. and that as per the present as- sessment the country will pay $106,- 639.80 per year, or $1,066,398 in 10 vears, and New Orleans 3173,284.45 per year, or in 10 years $1,i%2,844.50. It states further that the interest on these bonds will be $280,000 per year, or just about equal to the awcunt of tax paid in each year, so that at the end of 10 years the state will still owe the six and one-half million dol- lars at 4 per cent interest bonds. which by the act the parish of Or- leans proposes to pay. The senti- ment is divided on this question of taxation, ard the promoters of this petition declare that they will push it through.” Give California Fair Deal, There seems to be a con‘roversy on between New Orleans ¢nd San Francisco for the World’s Panama Exposition, which will be beld in 1915. Both cities are claiming that they are each the most logical point for the great exposition and then they clamor about the monecy possi- bilities. While we are not inclined to mix up in this fight and injure the possibilities of either place by set- tling the question as to where the exposition shall be held, yet we think the west is entitled to soms of the good things, and we suggest that the Sunset state be given at least a fair deal in this matter.—Gallup (N. M.) Republican. Will Benefit The Whole Coast. The Napa Register says tha master of the State Grange expresses the sentiments of the peorle I'ving in that section when he says of the pro- posed Panama-Pacific exposition: “An exposition of this nature, if properly managed, can not fai' to be of vast ben.fit, not only to California, but to the whole Pacific coast. I be- Heve the Grange will do well to favor and encourage the movement.” Will Pay Its Own Bi!'s. San Francisco boosters are going about in the mocst practical way to secure support for their proposed exposition. They have raised a large sum of money, more than was ever invested in an exposition in America, and propose to pay their own bills without tapping the government till. This will commend San Francisco to the public.—Omaha Bee. l ey ™ AN l CALIFORNIA Far Ahead of Louisiana From a Financial Standpoint, 'GUMPAHISUN OF TWD STATES ‘Bank Statistics Show That the Pa- cific Coast Commonwealth Out- classes Her Southern Rivai—Some Items That Ought to Tell Heavily as Arguments For the City of San Francisco. “With no design to lay bhare a ri- val’s hard circumstances, but to as- certain definitely the relative and comparative ability of California and Louisiana. and of San Francisco and New Orleans, to finance and handle a world’s fair, the California Wxposi- committee has been looking into the banking figures of the two states and two cities,” says the San Francisco Call. “The showing is tremendously against Louisiana and New Crleans. “Herewith are some items that ocught to tell heavily as financial arguments for San Francisro They are taken from the report of the na- tional monetary commission and re- late almost wholly to conditions on April 28, 1909. That they a= exact and authentic there can be mno ques- tien. “The results of the comparison are striking. For example, with compar- atively equal populations, California has four dollars of banking resources to Louisiana’s one. The savings de- California’s faver, ranking Culifornia fourth in the Union in this respect and Louisiana twenty-fourth. “San Francisco’s 200,000 depositors have $154,000,000 tucked away; New Orleans shows 55,000 such depositors with only $17,000,000 laid up against that rainy day. San Francisco’s savings banks paid their passbook holders in interest in the year covered by the report upward of $5,000,000; New Orleans savings depositors in th same period were credited with a little more than a quarter of a million. “According to the report of the comptroller of the currency, the na- tional banks of San Fran~fsco in- creased their total resources $103.- 000,000 in the year 1909-191C; New Orleans national banks increased a little more than $2,000,000. “Below are the precise figures: Comparitive Banking Statistics Relative to California and Louisiana. California. Population June 1, 1909 Capital of all banks Average per capita Individual deposits Average per capita Total resources of .. Average per capita Total savings deposits Number of savings depo: savings 486.71 281,228,437.26 itors 525,488 Total depositors . 890,149 Average amount of savings deposit ......iiieaiieiiess 535.00 Amount paid savings de- positors In interest 1908-9 8,122,906.79 Ranks fourth among states of the Union in amount of savings deposits. Ranks seventh among states in num- ber of savings depositors. Louisiana. Popu'ation June 1, 1909... 1,642,000 Cepital of all banks $ 21,955,800.90 Average per capita 18.37 Individual deposits 90,504,530.00 Average per capita Total resources of .. Average per capita Total savings deposits Number of savings dero: 56.12 158,642,502.00 96.61 21,356,283.90 itors 80,733 Total depositors . 163,814 Average amount of savings deposits ....... 264.00 Amount paid sav positors in interest 1908-9 801,527.73 Ranks twenty-fourth among states of the Union in amount of savings deposits. Ranks twenty-seventh among statesin number of savings depositors. San Francisco. Total savings deposits ....$153,792,186.05 Total individual deposits . 243,927,437.47 Number of savings depos- ftors ....coiieiiiiiiiiina, 208,250 Total number of depositors 539 Average savings dcposit .. 740.00 Amount paid savings de- positors in interest Increase in total resources of national banks 1909-10 103,620,828.96 New Orleans. Total savings deposits..... $ 16,856,783.49 Total individual deposits 42,979,077.18 Number of savings deps 5,223,827.65 itors 55,576 Total nu: S 74,019 Average savings deposit .. 300.00 Amount paid savings de- positors in interest ...... 285,157.10 Increase in total resources of national banks 1909-10 2,370,226.74 Note.—The figures above given are taken from the report of the national monetary commission, and except as noted relate to April 28, 1909, The last comparison is taken from the reports of the comptroller of the cur- rency.” Hint to Louislana. Louisiana will have to be up and doing if it is to capture the Panama Irternational Exposition of 1915. A special session of the Califsrnia leg- islature has proposed two amend- ments to the state constitution which will allow an additional #10,000,000 for the financing of the exposition, and over $7,000,000 has already been provided by private subscription.— Cincinnati Southwest. Deeclares For San Francisco. Rear Admiral Robley D. Rvans, re- tired, has declared himself in favor of San Francisco as the place for holding the international exposition to celebrate the opening of the Pan- ama canal in 1915. He bases his preference on San Francisco’s pres- ent prominence and future as a great seaport.—Oswego (N. Y.) Times. e SEVERE STORM SWEEPS EAST Touch of Mid-Winter in Sev- eral States. SNOWFALL IS VERY HEAYY Twenty-one Inches Reported From Pennsylvania, but Other Atlantic States Escaped With a Lighter Fall. All Lines of Communication Inter- rupted and Ocean Liners Delayed in Their Arrival. New York, Nov. 5.—A storm of mid- winter intensity, which came booming up the Atlantic coast, bringing with it gales and heavy falls of snow and rain, left a broad trail of broken wire communication along the seaboard. Telegraph companies were beset | with difficulties. The storm was ap- parently severest between Baltimore and Washington, all wires being down. Pennsylvania suffered from a soggy, clinging snow and wires across the state were either down or working only intermittently. Early communica- tion with Chicago was obtained by way of Boston, thence to the West. Communication with Eastern points was affected by the storm, which brought down the snow coated wires. New York state felt the storm and wires worked poorly. Broken wire communication affect- ed some of the railroads and trains from distant points were behind their schedules. Five steamships due at Quarantine are unreported. The steamers are evi- dently detained by the gales and high seas. The steamship Koenigan Luise reported a small disabled American steamer anchored in the outer harbor The crippled ship signaled she wanted to be towed in. Another steamer, believed to be a storm victim, was reported anchored off Sandy Hook in a disabled condition. She is the French steamer Hon- duras, from New Orleans, Oct. 23, for Dunkirk and Havre, and presumably made this port for refuge and to effect repairs. NATIONAL CAPITAL CUT OFF Wires to Outside World Down in All Directions. ‘Washington, Nov. 5.—The national capital can communicate only inter- mittently with the -outside ., world. Wires in all directions were blown down by a severe storm, accompanied by rain and snow. No direct wire communication be- tween here and the North could be had, while conditions in other direc- tions were almost as bad, although a limited outlet and inlet for news was had by way of the West. Only a stone’s throw from the White House the two top sections of a 100- foot iron wireless pole, which shot skyward from the top of a ten-story office building, were blown down with grert force upon two neighboring builldings, doing much damage. The ' 4 - storm was in many respects similar to that which occurred last inaugura- tion day, only it was not so severe. Storm Causes One Death. Shamokin, Pa., Nov. 5—A twenty- one-itch sprowfall resulted from the storm in tbis section. Snow is still falling. Collieries in the region were compelled to shut down. 'The fr: death due to at Tower City when George Williams, thirty-five 5 cld, dropped dead in the Brookeide collicry. Heart Deep Snow in Pennsylvaria. Philadelphia, Nov. 5.—The nerthea gale which came in from the ocean de veloped in the night into onme of the wvorst November storms in vy In the mountain districts of Pe ow fell to the depth of tweive inch rozd and trolley service in t impeded. The storm was ed by a high wind, w play havoc with telegraph and tele- nhone wires. Ready For the Next One. A generous and vrave but very ec- centric Virgiia planter named Hill Carter. who had once been an officer in the United States uavy, had a hand to hand battle at tisticutfs one day with his plantation overseer and cuae off secoud be: He therefore chal lenged the overseer to a tormal duel, but the latter declined on the ground that, being h aud and father, he wis under obligation not 1o risk leav- Ing his family destitute. Carter at ouce removed that objection by set- tling upon the family a comfortable annuity. Then everything was got ready for the fight, but just as the two men taced each other the sheritf arrived on the scene, fook them into custody and had them bound over to keep rhe peace Mr. Carter did wpot. however, change the deed of gift with which be bad provided for the over- seer’s family, remarking that he might wish some time to resume the inter- rupted fizht aund hence would rather keep everything in readiness for prompt action.—New York Post. vania § FIRE = THOMAS BAILEY FOR SHERIFF I hereby announce myself as a candidate for Sheriff of Bel- trami County to be voted on at the general election Tuesday, November, 8th 1910. Thomas Bailey. LIEGLER & ZIEGLER GO, “THE LAND MEN”’ INSURANCE LIFE = ACCIDENT Real Estate in All ls Branches FARM LANDS BOUCHT AND SOLD Go to Them for Qnick Action Office--Schroeder Building Subseribe for The Pioneer YOU CANT SEE The Vital Parts and 1t’s just those parts that count most in a suit of clothes. 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