The San Francisco Call. Newspaper, October 23, 1903, Page 7

THE SAN FRANCISCO CALL, FRIDAY, OCTOBER 28. 1903, . GUESTS OF SAN FRANCISCO COMBINE PLEASURE WITH BUSINESS, ENJOYING A TRIP AROUND THE BAY AND VISIT TO OPERA HOUSE ——e- 1 Gala Scene Takes] Place Within Theater. — Play Is Witnessed| by Remarkable Audience. | | shed audience seen within a theater se one the //' = T N R =T “SRRIEN . TRIMR TRIP AROUND THE BAY — oved | he actors | at ng so bril- | g and ssual ap- | ng dur- | Prosperity of American Nation Extolled by Comptroller of the Currency and Other Men of Finance e - players, how- Continued From Page 6, Column 6. nd the final er dealt with his theme in a skillful man- ner and Mr. McAshan was given a round of applause at the close of his speech. His address was as follows: Coming as I rous welcome e bankers of do from the busy life of & Bankers Tell of] e s ay et Conditions in States. in his great work on the ruins of classes the banker with the tyrant, mankind. At a recent given to bankers, one e influence of enthu- other the orators siasm, . patriotism, res eaid: “It is a onally under stimu- ekin 1 see my fellow doers Mai the of e cat and Great Lakes. prohibition woods rrie Nation, to bie L n San Fran tyrannical profession everywhere I see before me mem- noble profession who do_others them, and I am The Money about it? What in- ggesting this discussion it my remarks to 2000 woi s prosper- | n tchell of | 80 if I leave arything unsaid on_this question, Just 1 y time limit. The request of the reminded me of one of my e friend had a little boy who ask- nany questions. One day his father you take up too much of my | time asking questions.”” ‘‘Well,” sald Dick, | | “Just answer me one question and I will let | = you off. It will only take you a minute.” | poke on the prosper- | *'All right_ if it will only take a minute, fire t niversi- | away;” “Well” said Dick, *just tell me how to work miracles and how fo make con- densed milk answered. 1 am would show you & thorough discussion of the, money the United States in 2000 words. What do we mean by the money supply of the United States? We do not mean the sup- piy of mone; that has accumulated in th aults of the Government. This needs no dis- cussion. We all know that the Treasury of the United States is overflowing with money. It bas even been suggested that the reason the banks are 8o short on cash is because the Treasury is $o long on it &s to have about one-fourth of our circulating medium under Dick’s question remained un- nclined to think that I > its control. It is e\'enmhln(ed \:Al Wall street, < et~ e P B atchless ability and vuipine cun- 1 we would like s of the independent Treasury system. It ext bankers' convention.” | is even spoken in whispers that our great cap- ted by Banker of finance spend days and even nights 3 | work_trying to evolve some plan by told of the eans of which they can do the Secretary, es- | tablish a_community of interest, as it were, between Wall street and the Treasury and ex- change some Treasury fatness for Wzll street delegate to the taxing pow that larger proportion withdrawn fro e Government; a of the people's money is circulation than is needed for the expenses of t ernment. They are all Democrats down our way, except Federal of- fice holders and other wards of the.nation. Hamps r0 had x their wonders as responded to t | case; that this preponderating preponderance of weelth is due to a laudable effort on the paternal part of our paternal Government to « sident of the protect our little infant industries such as He said ihe United States Stec Corporation. | Mean- esults, | time, the banker p_against it. He who 3 duclng &o0d results, | \ouia give the glad hand must show the ¢ reform of the banking | marple heart. His few days are full of mis- ng all ILies, The last year | ery. { depression. Becurities The banker is llh.\‘hfid lr;lrwlll!«r he is nel- fluctuate T condition is pass- | thelr a Democrat nor a Rep an., He is » v : 5~ | composed mostly of legs and baldness. Legs, ing 1ow that we have |y, 'more convenlently to straddle political | ¥ o r. The industrial 80d | fences, and baldness brought on by herculean being amicably settied | mentai efforts to know on which side of the and we fee we are on the eve of | ence to fall at the right time. It is a tremen- - ranks of the State | G0us job for a banker 1o think: when he does, - banks o € | something is sure to drop. Two of my friends . rong. were running for office. They met in our bank sep w esident of the Cit- | ane day. One sald the other was no Demo- e b: I £h, N. C., said that his| crat. The other said the other was another. s « > o, The air became blue; the temperature began to . 2, “a mnatural, | pec.“ihe clectric fans fairly churned hot air. California beau- | I saw that 1 had to speak or lose both their ac counts. Unless I did, each 'hf:!lld lhlhxikhl had o said ail the complimentary things which each g fad sald of the oth So at the first pause in ate to be called | posiiities 1 sald, “Gentlemen, don't you think >t permit of any | that in the discussion of such glgantic ques- livan said: “The | tions we are lisble to run the economic center unusually good, | Of immensities into the political conflux of eter- nities?" They both said they did, and at the same time with a paralytic smile bade me good- by and went away my friends. I had fallen on the right side of the fence, but just consider the waste of gray matter involved in such an effort! No, my fellow tyrants! We are not ex- pected to discuss the monmey supply of Unele Sam. That will be all right 5o 1ong as he has unlinited powers of taxation and requires no weak spots. posits of $450,- criencing prosper- Association is of its kind in the measured by the men, Ohio will not T United State bonds as security for United —_———— States deposits. “ o The money suoply under discussion is that K. H. Lyford, who | of the country at large; the money which is sel for the Chicago | available for business: the money .which is avallable for paying deposits when our depos- jtors withdraw a part of our working capital Robert Mather | to work on themselves. It is a mystery to me president of the St | what becomes of the money at certain seasons rancleco Rallrosd Company. | of the year. There are times every year when 4 Company, was for the St 'Louls Fouis and Sap ¥ iracle if I should make & | supply of | leanness. The courting is all dome by the financlers Why does condition exist? The Demo- | crat will tell you that it is by an abuse of The Republican wiil say that such is not the | the whole country has an abundance, or seems to have. Interest rates seem searching for zero; loans are pald off and from New York to San Francisco and from Maine to Texas all the banks seem loaded with awag. There are | other seasons when thers is a great scarcity | of 1t. Where does it go? New York does not | have it: Chicago does not have it. I think from ali appearances here it emigrates to San Francy The country does not have it. It exists, but is 50 nimbie that we cannot find it The fact that the whole country, under normal nditions, has at certain seasons of the year | abundance of money, 1n spite of all financial | and buccaneering, is proof that under conditions the money supply of the ed States Is sufficient for our commerce. arative volume of money in circula- | fon compared to the volums of trade is greater in the United Etates than in any other country | | of the world. I make this as an assertion. I m not going into statistics. Figures never lie, ut statistics are sometimes misleading. A rafl: y sometimes borrows money for years to pay Ita dividends, still expert account- ants can figure out that the stock is a gilt- Under normal conditions our money supply is ample; even now circulation is belng retired more rapidly than the law permits. In Febru- and March, with large deposits, we some- carry a reserve of 50 per cent and blazon our great riches. The solvency is gauged by the magnitude of its | debts; the insolvency of other corporations is | pauged by the same standard. We see this re- Fserve meit in the ba days of May to 60 per cent, and e beautiful poetic June to 50 per nessiike July to 40 per oent and s of August to & poor, pitiful 25 to the disgraceful level of New wonder how the mighty have cent 1 we 2 write our central carrespondepts to have any money; that while we do credit, Oh! no! as a mai- o them, and they write none, but in case our t using our credit, » ¢ i customers that they will impair their reserves for our sake. Now the question is, how can we avold charging | prohibitive rates of interest, when our deposits How can 0 use ou are meiting like the beautiful snow? we avoid that mental strain that is required to make a banker look cheerful when the whole beautiful realm of nature seems hung with crape and in mourning; when the waves of the sea seem to chant dirges; when the | Winds In the woods seem to whisper requiems; when the thunders on the mountains seem to growl funeral marches, the prairie breezes howl lamentations, and even in sea, and wood, and prairies, and mountains, make our vacations & travesty and a farce. How can we relieve our central reserve cor- respondents from the embarrassment of im- | pairing their reserves out ef mere politeness to us? How can we do these things and not vio- |late the fundamental principles of American liberty and sound economics? I belleve that | the creation of money is an, attribute of sover- eignty, and should not be delegated to private | persons. 1 belleve that assets currency is an injustice to depositors. Nothing should ever be done to impalr the security of the depositor. | 1 believe that the right to issue unsecured cur- rency by individuals is monopolistic and un. American. it would be the bestowal of unjust and unequal privileges and would be wrong. These are the fundamental doctrines of my financial creed. 1 am, however, not a dreams=-, an idealist or an enthusiast. Emergency con- ditions require emergency remedies. I recog- nize conditions as they exist and would like to see a remedy devised, for it would result to the interest of agriculture, manufacturing, com- merce, mining and transportation, which con- stitute the entire circle of human enterprise. | There are times of the year when the volume of money is not sufficient, and no one knows this better than the farmer, the country mer- chant and the country banker. When the earth has yielded her increase,| when the harvest moon hangs high In the heavens, when the sound of the thresher is | heard i the rice fields, when the darkeys sing amid the sugar cane, when the great North- west pours its grain In golden floods all over | the land, when old King Cotton holds his im- perial rt in the snowy flelds of the fleecy | #taple; when the withered banners of the corn are still, and gathered flelds are growing strangely wan; while death, poetic death, with | hands that color whatever they touch, weaves in the autumn wood his tapestries of gold and brown; when everywhere in this mighty nation from the iceflelds of Alaska to the shimmer- ing glory of the Mexican gulf, from the un- friendly woods of the distant Maine, where the God of Day sheds his beams of gold at dawn to the radiance of the Queen of Night, who at the self eame hour sheds her silver light over the Philippine Archipelago, then it is that the banker realizes that our currency needs relief in order that the American banker, the American farmer, the American merchant, end the American manufacturer may handle {to the best advantage the fruits which h | been o bountifully provided under the provi- dence cf God. How can this be done and not violate sound economics? 1 would like to make a suggestion, not as a cure-all, but simply as & suggestion subject to fewer objections than any I have seen brought forward. The relief should be on the | emergency plan, pure.and simple, and permisei- ble only in emergencies and for the public &ood. it should be in the interest of the peo- ple, and not classes, and should be taxed out of circulation the moment the emergency 1s past. It should be safe and elastic. it should be umiform. It should be of such a charac- ter as not to weaken public confidence in banks. In short, it should be a currency based upon sound economics and patriotism. An un- secured bank circulation would be as safe as are the deposits of the bank, for the resources of the banks are guarantees of their payment, and whoever would deposit money in a bank would accept the bank’s note. This, of course, would only operate locally. ; . It seems to me that & perfectly satisfactory emergency circulation could” be devised along | the following lines: Authorize the Secretary of the Treasury to issue treasury notes to the national banks to the extent of 25 per cent of their paid-in capital, on the foll terms and conditions: The loan of these notes to the banks to be a general liability of the banks, secured by the several and proportional obli: gations of the stockholders _of hom the notes are loaned. - This pledge o the stockholders to be in the form of & stock- | of the United Stat holder's vote and to be in the nature of a continuing guarantes. This obligation to be in addition to the present general er's liability of 100 per cent. Th treasury notes should not be made Indiscrim- inately, but only to such banks as have stock- holders whose responsibility is unquestioned, and has been ascertained by the treasury agents, thy bank examiners. Thus, when a bank showed among its labili- tles any emergency circulation, instead of cre- ating any uneasiness in the public mind, it Wwould promote confidence, and be a badge of honor or merit, as showing that the stock- holders of the bank had been ascertained by treasury agents to be good responsible men. The irresponsiblé bankers would thereby be eliminated. ~Such notes should be redeem.. able at the treasury or any sub-treasury. A duty shouid be charged upon such ecircula- ton. 80 low during the harvest season that banks would be encouraged to take them out, and thereby facilitate the commerce of the country, and this duty should be so high dur- Ing the time that the emerzency does exist as to force the retirement of the notes and thereby prevent inflation, This duty should b 3t the rale ot gbout 3 per cent from July ry_and at the cer_;_lh from January to JII;’)".'e e T © proceeds of this duty should as a safety fund out of which to puybleheh:i!! penses of the issue and redemption, and for the purpose of redeeming those notes loaned o any falled banks. As most banks are :\r';]ulld“nfin “g!u!]l;‘; l'lb'l:nued. this safety fund o ubt ample for all purpos gnd it is not likely that a call would ever ave to be made upon the bank stockholders to reimburse the treasury for the loan of these notes. The banks should be required to hotq & reserve against these notes, and the notes should be redeemable in any lawful money and their redem, retirement once a year should be made cond Pulsory in case the 10 per cent duty was not a ;\;;n;l-‘n}:’lnd;llmmer:! for all banks to do so. 8¢ lines, in my opinios gency circulation could be devised ther would be elastic. It would respond to the needs of trade. It would be safe, for it would be guar anteed by the liquid wealth of the banks and the accumulated capital of the stockholders. would nat {mpalr public confidence in the bank's solvency, for fts lasue would be an evidence of merit, of the responsibllity of stockholders, It would not only provide money for crop move. ments, but it would provide an enormous re. source that could be utilized in times of panie, ;;m lgarmby %ndmmve henefit to s citizens. The depositors of a bank n tvery walk of life and in time of Danis ness saved from thelr ow: Rats ST n thoughtless igno- t may be thought that this su class legislation, and 1f it is !uh}ff‘lt‘!“on taint, the taint is so small as hardly to Its benefits would be so far-reachin, spreading and various that the entire common wealth would recelve them, and the spesial privileges so hedged around by safeguards. per sonal lability and taxes, that it would rot ne abused. This personal lability and tax fem: ture may make my suggestion unpopular in some quarters. There is a great disposition on the part of most men to share benefits and avold responsibilities. There is an old and hon. ored American sentiment which says that they who dance should pay for the music. It thiy addition were made to our currency system i would be as nearly complete as wi rould be, @ can hope The time allowed for my address has now expired. 1 put forward my suggestion modent. ly, tentatively and hesitatingly, not as a uni- versal panacea, but as an improvement. The area of thissgountry is great as all Europe. Our facilities for commerce and exchange, our oceans, our vast inland our navigable streams, our canals. our vast network of rail- roads comprising thousands of miles, give um avenues of trade which no other nation ever enjoyed and which tend to the production of wealth with & rapidity not to be measured by any standard of the past. These things pro- duce a traffic requiring at certain seasons of the year a volume of currency unprecedented in_the marts of trade. et us hope that the glory and fame of the cd States may mot be tarnished by unwise financial polictes. May this nation whose vie- torious arms on land and sea have astonished the world, " whose triumphs in mechanical arts and’sciences have won the applause of natlons, whose far-reaching commerce has invaded and subdued by gentle yet compelling force Europe, the Orfent and the isles of the sea, making i the' arbiter of the world's destiny. while not aiming at the world's empire; may this nation which, tn_civil liberty and education. uplifts and upbullds the human race, and shail be the luminary for all the ages vet'to be poured into the la» of empires from the secret caverns of time; may this nation, which seems to have Dbeen’ reserved by the god of nations for the manitest destiny of dominating and redeeming the globe, which has evinced a spirit of patriot: iem and whose battle hymns have rekindled the altar fires of the earth; let this nation formu- late a financial theory at least not narrow, per- verted or selfish; not tainted With the odium of caste or lax with the taint of unsoundness, but such a theory as may be In keeping with the sublimity of our history and the magnif- cence of our destiny. The “call of States” followed the read- ing of the address. eyl Bankers Will Visit Stanford. STANFORD UNIVERSITY, Oct. 22.— Next Saturday a special train will bring to Stanford a delegation from the Ameri- can Bankers' Assoclation, now in session in San Francisco. This trip has been planned as a part of the entertalnment of the State's guests and the university will be open to the inspection of the visi- tors. As Stanford draws many of its students: from -the East the university will probably prove doubly attractive to many of the Eastern financiers. s to this count. wide il ‘last night tence wo ‘months’ imprisonment ha libeled Judge Ramos. He will maké an for a writ of It CASHIER. S NaTi o L GROUPS OF VISITING BANK- ERS AND A LEADING TEXAS REPRESENTATIVE. % S 4 BUREAU CHIEF RE3IGNG POST Payne Compels William H. Landvoight to Retire. WASHINGTON, Oct. 22.—Willlam H. Landvoight, chief of the classification de- partment of the Postoffice Department, to-day presented his resignation to Post- master General Payme. The resignation was requested by Payne as a result of the investigation by the inspectors of the charges growing out of the employment of Landvoight's son In the General Mani- folding Company of Franklin, Pa., which had a contract for supplying patented registry books to the department. Land- voight was chief of the registry books to the departmengprior to his comparatively recent transfe® to take charge of the classification work for the department. Landvoight prepared his resignation this morning and presented R to the Postmaster General in person. It was brief and called attention to the fact that the only criticlsm of him was the em- ployment of his son, Arnold, with the company. The resignation was made to take effect at the pleasure of the Post- master General. Payne expressed his re- gret at the necessity for the action, but said that the employment of the son with the company Involved a principle that must be enforced. Landvoight has been in the postal ser- vice about twenty-nine years. He began as a clerk and worked his way up. Un- der a detall of the Third Assistant Post- master General he went to New York some years ago and reorganized the reg- istry service of that city. Landvoight said that the request for his resignation carried no intimation of any wrongdoing whatever, and that the only question was the principle involved in his son's em- ployment. GOVERNMENT TO COMPLETE WORK ON THE WAR VESSELS Removes the Cruiser Chattanocoga and Two Torpedo Boats From the Crescent Yard: ELIZABETHPORT, N. J., Oct, 22.—The cruiser Chattanooga and the torpedo boats Nicholson and O'Brien, which were under construction at the Crescent Ship- yards, to-day were towed by Government tugs to the Brooklyn Navy Yard, where the work on them will be finished. A big Government lighter carried away every piece of Government property belonging to the cruiser and the torpedo boats. Neither the Sheriff nor any of his depu- tles was present and no remonstrance was made against the removal of the ves- sels. The cruiser and the two torpedo boats were replevined by the United States Government from the control of the Sherift of Union County, who has held the Chattancoga on a libel of $10,000 on a claim made by Babcock & Wilcox, -+ POLICE FIND NO TRACE OF MISSING MILLIONAIRE Virginia Coal and Iron Company Of- | fers Large Reward in the Wentz Case BIG STONE GAP, Va., Oct. 22.—Previ- ous rewards offered by D. B. Wentz, brother of Edward L. Wentz, the Phila- delphia millionaire, who disappeared on Wednesday, October 14, not having brought forth the desired effect, the re- wards offered by D. B. Wentz have been | withdrawn and the following rewards of- fered by the Virginia Coal and Iron Com- pany: 5 “First—If the person or persons who abducted Edward L. Wentz Wednesday, October 14, 103, will return him alive they | will be pald $25000 by the Virginia Coal and Iron Company. “Second—A reward of $30,00 will be paid by the Virginia Coal and Iron Company for information which will secure the ar- rest and conviction of the murderers of Edward L. Wentz, who disappeared Wednesday, October 14, 1%03. *“Third—A. suitable reward will be pald for information which will result in the recovery of the body of Edward L. ‘Wentz."” R No Trains for San Quentin. SAN RAFAEL, Oct. 22.—The North Shore Railroad Company,will discontinue all passenger trains to and from San Quentin. The official announcement was given out at railroad headquarters to-day and will take effect November 1. It came as a great surprise both to the employes of the road and residents of Marin County. Ferry Boat Takes Out Crowd of Visitors. Many Points of Interest Are In- spected. ST SRR TR | HE bay excursion tendered to the visiting bankers by the bankers of San Francisco was one of the important events in the enter- tainment of the city's visitors. | The ferryboat Berkeley, which was | tendered by the Southern Pacific | Company for the excursion, was gaily be- ‘deckfd with flags, which were strung in | profusion from stem to stern. | Shortly after 2:30 p. m. she pulled away | from the dock at the foot of Market street and headed for Hunters Point, where the only stop was made In order that those of the party who wanted to take photographs might land and obtain desirable views of the steamer. From here the cruise was the Alameda mole. Oakland pier, Oakland transit pier, naval training school, Yerba Buena Isl- and, the Brothers lighthouse, Raccoon Straits, Angel Island, Tiburon, Belvedere, . Golden Gate, Fort Baker, Fort Mason, Presidio, Telegraph Hill, Alcatraz | Island and water front to starting peint, where the boat arrived at § o'clock. There :\\PFG on board about 1500 v.sito: all of | whom were loud in praise of the gran- | deur of the bay and its environments and | equally loud in the manifestations of the | royal hospitality that had been extended to them on all sides. The ladies of tae party were especiall enthusiastic in praise of the kindne: s and the cordial- to | | |ty that had been showered on them. | Foremost among those who were loud ‘!u their expressions of praise of San Francisco and its hospitalities were | Charles O. Austin, vice president of the | National Bank of North America of Chi- | cago; Frederick Kasten, the second vice | president of the Wisconsin National Bank | of Milwaukee; Willam F. Kettenbach, | president of the Lewiston National Bank: | Claude Meeker of Meeker Bros.' Bank of Columbus, Ohfo, and John T. Harrington | of Youngstown, Ohio. They all stated that the could not have possibly been attended | under more pleasant auspices and that | they were more than surprised at the size and beauty of the city. The day was comparatively clear and | the visitors were enabled to see the prin- | cipal points of interest m the harbor to excellent advantage. { In the main cabin a splendid stringed | orchestra played. On the lower deck a fine luncheon was served at the pleasure '(\l the guests. | | convention The excursion was actually under the supervision of H. R. Judah, assisted by William McMurray, who has charge of all the details of the side trips of this convention. | PR P { Well-Known Jockey Dead. | SAN DIEGO, Oct. 22—Cad Register. & | well known rider and horse jockey. died | here to-day after several months' iliness. | He was 39 years old. e ADVERTISEMENTS. sinss DDt USSUMII LSS SE INTERNATIONAL BANKING CORPORATION Capital, $3,947,200. WILLIAM L. MOYER JOHN HUBBARD JAMES H. ROGERS.... CHARLES D. PALMER... WILLIAM B. WIGHTMAN JOHN B. LEE.. WILLIAM H. MA 3 ALEXANDER & GREEN........ Surplus and WALL ST., NEW YORK lvided Profits, $4,044,973.37. Prestdent Treasurer > Secretary Asst. to President [Asst. to President General Manager Xsst. Gen'l Manager R Counsel FISCAL AGENTS FOR THE PINE ISLANDS. MENT OF THE PHILIPPINE ISLANDS. UNITED STATES I 1 DESIGNATED DEPOSITORY FOR THE FUNDS OF THE GOVEKN- CHINA AND THE PHILIP- NCHES: s .....JOHN C. BUDD, Manager FRANCIS E. BECK, Manager V. v ...J. SELWIN TAIT, Manager U1y OF MEXICO.. LIONEL H. MILLER, Manager MANILA .'ROBERT W. BROWN, Marager HONGKONG ..__CHARLES R. SCOTT. Manager YOKOHAMA 'HERBERT C. GULLAND, Manager SHANGHAL . _.JAMES S._FEARON. Agent SINGAPORE s . {ANWYL RICHARDS, Manager ANG, RANGOON, COLOMBO, AMOY, CANTON, CALCUTTA, MADRAS, PENANG, RANGOON, © . oY, NTON, BOMBA L KOW. TIENTEIN, TANSUL ANPING, BAKAN, MOJL SAIGON, KOBE, BANGKOK, BATAVIA, SAMARANG, SOURABATA. CORRESPONDENTS IN THOMAS H. HUBBARD, Chairman of t! JAMES W, ALEXA.\'D%,I‘! JULES 8. BACHE CLARENCE CARY JUAN M. CEBALLOS... EDWARD F. CRAGIN... W. MURRAY CRANE... GEORGE CROCKER..._. .- EUGENE DELANO....c.ououoo.s Ot Bro J8 HARTLEY DODGE. MARCELLU 2R R C. DUNHAM. i President, HALEY FISKE. EDWIN GOULD. ISAAC GUGGENHEIM T P EDWARD H. HARRIMAN. N EMAN JOHN R. HEG! N WILLIAM G. HENSHAW ERSKINE HEWITT.. JOHN HUBBARD.. esident, Equitable L 3. M Ceballos & Co. n Brothers & Co. Equitable Lif Treasurer, American Smeiting and ALL PARTS OF THE WORLD. @ B NIICININ o 2is Lo faaien S s ca s Soh Y sl s drhe oMb aini New York BT Prosident. A 3 g RS s S RS RS ew. Yor JAMES H. HYDE Equitable Life Assurance Society o AN DT R R ROV AT R Pit:sburg JOHN B. JACKSON LUTHER KOU JOHN J. McCOOK HENRY P. McINTOSH..,....... Prestdent, NTYRE WL AN H. e ice " President, PIERRE MALI HENRT 8. MANNING L. MOYER. - WHLIAM President, The ALLAN W. PAIGE CLAY PIERCE... T Chalrman, HOWARD 8. RODGERS.‘ GEORGE H. RUSSEL... WILLIAM SALOMON. who supplied the bollers for the cruiser. —_————————— Schooner Julia E. Whalen Is Ashore. HONOLULU, Oct. 22.—The schooner Ju- lia E. Whalen went ashore on Midway Island early this morning. She was im- mediately abandoned by her crew and passengers, wWho are now ashore suffering much discomfort owing to a scarcity of clothing and provisions. A heavy sea is running and it is impossible for the crew to return to the stranded vessel. The schooner left here several days ago with supplies for the Commercial Cable Com. s station on Midway Island, ROBENT A. C. SMITH ro LFRED G. VANDERBILT. énuu.u A. WHITTIER. 5 Treasurer, American-Chi: San Francisco Branch Guardian ‘Equita Of Henry W. T. Mali & Co. Merchants tle & Trust Co. Of Alexander & Green, Lawyers Cleveland Trust Company A New York ble Life Assurance Soclety I SIS New York - ceearerenian New York Merchants cessseer...New York «.. Bridgeport «e...8t Louts «..New York Development Company 32-34 Sanseme St. A General Banking Business Transacted. Accounts Corporations, Firms and Individuals Sollcited. Loans Made on Liberal Terms on Approved Securities. Foreign and Domestic Exchange Bought and Sold. Travelers' and Commercial Letters of Credit Granted avallable in any Part of the World Interest-Bearing Certificates of Deposit Issued for Fixed Periods. Interest Allowed to Ranks on Current Daily Balances. Special Rates given to Banks Keeping Accounts with us and Drawing Direct cn ouwr Branches and Agents Throughout the World. CORRESPONDENCE INVITED. Please note that the “With the INTERNATIONAL BANK & ATIONAL BANKING CORPORATION is in no way connecter OF AMERI TRUST COMPANY (CAs