IVKNI'WMIINIIHH 7. ?r- v!'' rs"-- - A'aES'iri."r L.wociaawnj-3ft'Vi"-,rjjR'53fracy'ijr wrTWBt'aw3ei s - - .l THE PITTSBURG tTrauwttTptjovn yatsiCT- aa- t' ii m in i mm h 111 ii m iiii w i i "swfl "" i -rf ifsfcsvanaroaAE-esTr', ffli5easM r 'ji.p. i v. . " taci 'J2: sr v. - - ,r -- -r-" - - - iH dispatOh,; iT-:.jr ts.ij- V; r- tt,.- . .--a SUNDAY, MARCH 1, 189L VIEWS OFFIMCIERS On the Supervision of Banks Arc in Faxor of Official Control of State Institutions, BUT KOT OF PRIVATE CONCERNS. Opinion in Line With'the Appointment of a Commissioner and Examiners by the Governor, AT SUCH EEMDXEEiTITE SALARIES it Will Stag Tcrwui Ken of CfcuicUrui EUiizf fcr tie Position, The joint Legislative Committee has fin ished its inquiry into banking methods in Pittsburs and Allegheny, and last nicht re lumed to Harrisbur-g. The evidence of a number of the foremost bankers in the twin cities was received and carelully recorded for consideration. The general tenor of the testimony adduced was in favor of a supervision of State banks. with modified and dissentient opinions re garding the extension of interference to private institutions Coiocidentally Com modore "Walton referred to the proposition now before the legislature to cive the city control of the whan es, and denounced the measure in strong terms. Tht commission adjourned to reconvene iu Philadelphia next Friday. Joseph F. Caldwell was the first witness to appear at the morning session. He favored btate supervision of incorporated banks and trust companies, but did not think private institutions should be examined. R. S. Smith, President of the Union National Bank, had similar views. He thought State inspection of private banks would hurt them commercially. Twenty five per cent reserve iund should be retained by all State banks. Responsibility of the Examiner. George A. Berry, President of the Pitts burg Bank of Sivmcs, was of opinion that the bank examiner should be under the ' supervision of the Auditor General and Governor. His views were on the same line as those already recorded. Captain C W Batchelor, of the Keystone Bank, said: I favor the supervision of State banks by ex aminers appointed by the Auditor General, ana thmk that all banking institutions should be under btate supervision and subject to a gen eral banking law. I think that other banks ehoald carry a rcere fund as do national banks The formation rf a regular banking department would bo businesslike, but as the law stands the Auditor General is the proper person in whom to rest such power. A. M. Brown, President of the Anchor Savings Banks doubted whether legislation would Keep a bank toll en t and yet might hasten the failure of a bank in bad condi tion. He added: Snch examinations as are sngcested wonld, no doubt, tend to give confidence in banking institutions generally. D. JIcK. Lloyd, James J. Donne, John Holmes and other bankers expressed views in line with those in advance of them. George Sheppard, bank examiner, contra dicted Judge Mellon's statement as printed in yesterdays press. The committee adjourned at the close ot J. B. Corry's testimony. He said: I think the national banking system a good cne. the best e have ever had. I don't see any i necessity of the State going to the expense of creatine a similar svstera when all onrnpnnio whopieferitcan have the benefit of tho na tional bank srstcm at less expense than the State can give it Mr. Corry stated his views regarding the value of legislation at considerable length. An Attack on Senate Bill 53. At readjournment, Joseph AValton, Presi dent of the Farmers' Deposit National Bank, was called, and expressed himself in favor of the supervision of State banks, but not private institutions. In replv to ques tions by Senator Dunlap, Mr. "Walton made inn onslaught on Senate bill 55, the measure to give the city control of the wharves. H. H. Niemann, President of the Fifth Avenue Bank, in reply to Senator Bobin ton's questions said that State banks should carry a reserve, and that the amount should be about 15 or 25 per cent. He was in favor of limiting the amount of money which a hank might loan to on individual or cor poration. As the law stood at present there was nothing to prevent the entire capital of a bank being so loaned. Instances existed here where such cases happened. John W. Tavlor, cashier of the Citv Sav ings Bank, favored supervision bv'law of the State banks, and held that a law govern ing the operations of one bank should govern all. He did not think that a State banking department would be admissible because of its expense. He thought three examiners, to be appointed by the Auditor General on the recommendation of the de positors aud bondholders, at a salary of 53,000 a year, paid by the State, would suf fice under the suggested law. He favored the reserve system being aDpIied to State banks, and thought that it should amount to at least 25 per cent on demand deposits and 10 per cent on deposits where notice would be required. John A. Hermann, of the Workrngmen's Savings Bank, Allegheny, favored State supervision of banks. .He thought that similar enactments as now existed iu the case of National banks would prevent the making of false statements. He was in favor of the supervision of private banks and a reserve in State banks. Supervision of State Banks Favored. J. 2T. Davidson, President of the Second National Bank, oc Allegheny, favored such legislation as would tend toward the super vision of State banks. He would adopt the features of the acts regulating national banks exceptiug as 'regards currency. He would exempt private banks because there were many such enterprises throughout the State, such as Drexel, Morgan & Co., of Philadelphia, who would regard such super vision as an invasion of privacy, and there were many substantial concerns which oper ated as successfully as other business enter prises. He thought private binking insti tutions shonld be as exempt from interference as any other commer cial undertaking, and he would not draw any distinction between them. He was ot the opinion that proper supervision could be accomplished by four or five ex aminers, who should be fully qualified men, and paid at least $4,000 or S5.000 a year, and by the banks. The National Banks pay the examiner, indirectly, it was true, and so should State banks. The State must not have any additional tax to pav except for the" Commissioner and his clerks." Such a super vision would be extremely beneficial; would engenuer a neaitny tone in Business, impart confidence to the people and be a very good thing for the banks themselves. Mr. David son referred to the Penn Bank as having published statements of its affairs as regu larly as the national banks, and said that if its affairs had been systematically inspected the result would have been different for a good many people As to tho Fixing of Salaries. C C. Davis, cashier of the Central Bank, favored State supervision and thought .one examiner would be enough for "Western Pennsylvania, and would fix salaries at from $3,000 to 55,000 a year. Some small private institutions would be the better of btate examinations, but the larger banking concerns would object. At present there was no means of obtaining information re garding tbe status of remote banks and their condition had to be assumed. Mark W. AVaton. President of the Ex change National Bank of Pittsburg, thought ! it would be proi er to enact legislation or I supervision over all hauls -after the manlier i of examinations in the case of tbe nation;! banks. He saw no reason why privateinsti tutions should be exempt. He noticed that the Legislaturewas supervising the opera tions of manufacturing concerns, inquiring into the ages of boys, etc., and 'generally paying much attention to the relations exist ing between employers and employe, and he did not see why there should" be any distinction drawn between a private banking corcern and a manufacturing concern. There could be no question of the desir ability of State banks having reserves. He was of opinion that the panic was largely due to the want of the very supervision now suggested. Banks had takeu paper which, if they bad been subject to supervision, they would not have touched. The idea oi a banking department was a good one, and he thought a suitable examiner could be ob tained $3,000 a year. An Exliaustli e Statement of Mews. James H. "Willock, President of the Second National Bank, in replv to questions said: I am in favor of aD enactment for the super vision of banks, and would model any such measure on those relating to national banks for the sake of uniformity. The main features of tho actr relating to national banks could be taken, omitting the section providing" for the circulation of notes. Bank acts should be amended so as to make banks keep more of their money at home and less of it in other large cities, bmall banks retain their reserve iu larce cities because they get interest on the balance. I would extend the supervision to private banks for tho reason that any insti tution which holds out inducements to depositors is entitled to have Its business supervised in the interest of thecommnmtv. Small banks are often the source ot much dis aster in times of panics, which, as past history shows, occur now in the course of events and such legislation as is proposed would averttho danger. I am of the opinion that banks should be obliged to keep their reserves at home, and in, their own vaults. Private banks decline to give statistics of their positions owing to the tronble entailed in making out the statement, but I belicv-A that fti tt mnt ot them would cheerfully do so if they were all put on the same basis. Any proposed banking department should be separate from any other, with the commissioner and his assistants ap pointed by the Governor and at snch salaries as will induce men of competency and character to accept the offices. Five thousand dollars a year would not bo too much for the chief, and 1 should not givo much for any examiner who w o did accept the work at less than $2,500 a year. Politics Not at All Favored., Mr. Willock lurther said that th; appoint ments should be outside of politics, for four years, and of men of character and standing in the commercial world. James M. Bailey, President of the Fourth National Bank, expressed views similar to those recorded above. "1 do not favor thR Minrv!einn tif npinta banks," he said, "because thev are nrivata enterprises and should notba interfered with more than any other similar institution. If people are so foolish as to trust private institu tions when they have tho national banks to reort to it is their own business." "You wonld not exercise supervision over private bank;, thenf "Xo. I don't see why the btate should have to take charge of all the fools in the State. .Many of the private banks aro lnnr pstah- lished and sound institution.,juBt as other commercial undertakings of old establishments are well reputed and others are not, but I don't see why the Government should inter fere in either case. It is altogether too po tential, and there is much supervision of manu factures to-day that is all humbuggerv. Panics are caused by over speculation, iloney be comes a drug in the market, and as it becomes more abundant the desire to speculate in creases, lianng Bros, weakness was known in banking circles before the general community became aware of it, and caused a drawing in of credit. Liability of Panics in the Fall. Panics mostly occur in the fall of tho year. I would favor a separate banking department if it were kept out of the political ring. The officials should be selected by the Governor witbont regard to politics for a term of four j ears at least, and at salaries that will attract the proper men. This closed the business of tbe commis sion here, and an adjournment was taken to next Friday at the Continental Hotel, Philadelphia. Senator Bobinson said to a Dispatch re porter at the close that he thought the mm. mission would report in favor of a change' in tbe banking laws in line with the evi dence taken. The new measures might be reported as attached to the report, or the re port might only take the form of a recom mendation that such new measures be pre pared. . Several members of the commission were then escorted by Mr. C. L. Magee and Sen ator Neeb. in carriages, to visit the wharves between Ninth street and the Point DANGER IN- CATTLE. A Philadelphia Physician Thinks They Cause Consumption. EXPERIMENTS WITH THE LYMPH. The Seasons Advanced to Prove Learned Doctor's Theory. tbe ATTEMPTS FOB IHMUNITX TO BE MADE Philadelphia, Feb. 28. The use of the Koch lymph as a diagnostic agent in cases of supposed tuberculosis in cattle, in augurated yesterday by a commission of ex perts at the veterinary hospital of the Uni versity of Pennsylvania, promises an out come of the greatest importance. Dr. "William L. Zuill, "chairman of the commission, has made a careful study of the subject, and believes that nearly, if not quite all, of the tubercular and scrofulous diseases are directly traceable to the use of diseased milk and flesh, a large percentage of kine being affected in this way. In speaking of the matter to the large veter inary class present at the investigations yes terday he gave an interesting account of the ravages ot the disease in various countries where cattle are used as food, as compared to the almost total absence of the disease in countries where cattle are not in use. Consumption Only In Cattle Countries. Among the South African tribes cattle are the standard food, and the people are sufferers from the disease, while on the in terior plateajus, where the cattle cannot ex ist, there is no consumption. In Denmark, where there is a cow for every one and one third persons, and where the milk is extens ively used, three out of every 1.000 persons die of consumption, while in Iceland", where the milk of sheep is used, the disease is unknown. Climatic differences might explain this, were it not lor tbe fact that when Icelanders begin to use cow's milk they soon contract the disease. On the steppes of Bussia, where the flesh of horses is eaten, there is no consumption; nor was the dUease known in Australia until after the introduction of cat tle in 1821, since which time 6 per cent of tbe deaths have been iram tuberculosis. These and many other instances he declared had called the attention of the medical pro fession to the danger from cattle and had led to the establishment of tho commission for investigating the matter. The experiments are to be condncted with a view to ascertaining three things. First, the value of tbe lymph as a diagnostic means; second, its value as a curative agent, and third, whether or not it will give im munity to the cattle. Cxperlmentinjr on the Cows. The first two cows inoculated were pro nounced suffering from tuberculosis, an ex amination of tbe sputum and milk showing the presence of bacilli in large numbers. The lungs were also greatly affected and the animals presented an appearance of the most pronounced ill health. The case of the third auimal had also been pronounced tuberculosis, but a careful diagnosis at the hospital bad failed to reveal any of the characteristics of the disease. She was. however, inoculated like the others in order to try the effect of the lymph as a diagnostic agent. The disease can seldon be detected In cattle until the advanced stages have been reaohed. If, as was supposed, tbe disease exists in the third cow, the same effect will result as in tbe cases of known tuberculosis, ana experi ments on a larger scale will be immediately begun. If the presence of the disease is shown in the third cow, supposed healthy animals will be inoculated, with a view to producing immunity, which, if successful, will be one of the greatest achivements in the history of medical science. Tho Dueber Assignment Raised. Cincinnati, Feb. 28. -Probate Judge Ferris this afternoon entered an order rais ing the assignment of the Dueber "Watch Company, and directing the assignee to re convev to Mr. Difeber all the property. HE-NO " We guarantee every package of He-NoTea." We mean by that. pfMSgl thatif youareinduced through any repre sentation to buy He- No Tea, and- you don't like it, "send the partly used package to us by mail, and we will V ettnpr rfiinn tr. you what you paid, or we will send you free a fresh package. Our confidence in the excellence of HE-NO TEA is such that we are willing to take all risks, and trust the public. ASK YbUR GROCER FOR HC-NO TEA, AND TAKE NO SUBSTITUTE. BEWARE OF IMITATIONS. MARTIN GILLET & CO., (Established 1811,) Exchange Place, Baltimore, Md. ,itt? -vf-'&.- - "- " - v j- .' ; - m&w - y t ' , NEW. ADVERTISEMENTS. v sHr fl. -l-L. V NEW ADVERTISEMENTS.'-"" CORRECT IN EVERY RESPECT NEW ADVERTISEMENTS. UEMIfl Ttn LMHUV' l I -: iitum '"' I JT w Mum1 ; V Vill deIS-99-TTbss PEICK BROS,, 21 SIXTH ST. Surgioal Instrument Establishment. Specialties' Scientific fitting nf TRUSSES, aDpliances for DEFORMITY and ARTIFICIAL LIMBS. Xargest stock of surgi cal instruments in Western Penn. Large illustrated cata logue free to physicians. ESTABLISHED 1881. .Eyes Examined Free. Artificial Eyes Inserted. J. DIAMOND, xTst. d28-TTSu . S2i s n 'a. -T- f rrvio r7voiyi-; Shakespeare says the world is a stage, and we must dress to suit the parts we play in. The Mechanic wants the serviceable. The Business Man the neat busi ness suit. The Banker the handsome, neat attire. The Dude the extreme fancy. We areprepared to fill the wants of every station in life. Whatever your part may be, we can supply the demand. Our stock of Spring Piece Cloth for Tailoring is complete. We are better than ever pre pared to meet the demand, and we would advise our friends and patrons to leave their orders with us as early as possible for spring to avoid the usual rush of the season. In home ready-made Spring Uvercoats we have the new est shades and styles at $8, $10 and $12. You'll not need to repair them in one year. We'll do that free of charge. -is- Ruben's New Spring Derby, w s p. w THE SCHENLEY, 81 OO, $3 10, S3 OO, 83 4.O. The votaries of fashion hereabouts are unani mously agreed that for true style and economy la prices there Is but ono establishment in "Western Pennsylranla, and that IS the re nowned and popular placo or RUBEN, The Hatter and Furnisher, 421 and .423 Smithfield St. P. 3. Jlall orders promptly filled. mhlnM-WTSn TTM. GRABOWSKY. FASHIONABLE TV Hat and Bonnet Bleacher and Artistic Feather Dyer. Our Sprine Fashion Plato is ready. All tho leading styles for Ladies' and Children's Straw Hats are made up and ready for inspection. The stylos shown will meet tbe demands of. our many friends. Oar old establishment; with in creased facilities for turning out Rood work only, will gain many customers the coming THE CHICAGO CABPENTEBS' DI6PUTE, General It Will Trobably Result In a Strike Early Next Month. Chicago, Feb. 28. Last spring the union carpenters of the city went on a strike, and after a time a portion of the Boss Carpenters' Association withdrew and formed a new association, which agreed to the terms of the men as to hours and wages, and a contract to run until April 1 was entered into. There has been considerable friction since that time, each side accusing the other of bad faith. Matters have now been brought to a crisis, the bosses having unanimously re solved that they will no longer be bound by the agreement. This, in eflect, puts them at one with the other boss carpenters, and the outlook now is that a general strike r! the union carpenters of the city will take place April 1, if, inaeed, this action does not precipitate it before. STOCK EHUEELY BEW. FINE WALL PAPER! Clothiers, Tailors, Hatters and Furnishers, 954 and 956 LIBERT? ST ') STAR CORNER. mhl22-TTSu We will dye and renovate your old-fashioned hat to any of our new Spring shapes by oar new electric process, rendering tho hats as good as new in every respect. Bring your bat or bon net now. Don't wait till half tbe season Is gone. Winter hats are out of stylo now. The style this spring Is black hats,trimmed in plumes or tips. We are practical Ostrich Feather dyers and do tbe wore correct. Bring your Flumes ana your Hat to us and in a few days you have a newapring ouinc at siignt cost. WM. GRABOWSKY, 707 Penn av., opp. Penn Building. Orders by mail promply tilled. PUT THE DOLLAR WHBBE IT Will Do the Most Goodf We will give to the limit in quantity, aualitv and value for it." You can choose from Style, Variety, Beauty and Merit Of the Largest and Best Assorted Stock of FURNITURE, CARPETS, . CURTAINS, And Everything in the Honsc Furnishing Line. CASH OR CREDIT. PICKERING'S, COR. TENTH AND PENN. tnhl Closing-Out Sale to Quit Business The entire sto'ok of THE TANNER CHINA COMPANY to be closed out before March 15. Come early and get tbe bargains. See our prices: 200 dozen China Bone Dishes at 9c cacb", worth .t.?2 OOdox. . 200 dozen Cut Glass Pattern Tumblers. 42e dozen, worth , 85doz 56-piece English Decorated Stone China Tea Sets, 52 98, worth ,.,. 4 75 ' 112-piece English Decorated Stone China Dinner Set, $7 20, worth. .. 9 75 ' 12-piece Decorated Chamber Sets, $3 70, worth .,., 4 75 Also a complete line of Haviland & Co.'s Decorated French Cnina Tea sad DinneJ Sets and a large line of White China or decorating. , 38 Fioria: -AJViEisrTTZEi Ie22-wrsu ' bsro. J fe22-wrs AT ALL PRICES. WM TRINKLE & CO., TWO JUYNDLE FIENDS. Little Kentucky Boys Blow Out tho Brains of Their Sleeping Brother. Louisville, Feb. 28. A lG-year-old boy named "Wrignt was Silled at his home, in Pike county, last night by two of his young brothers, aged 12 and 14. They placed a gun against his head when he lay in bed asleep, and literally blew his brains out. Tbe only reason assigned for the deed is that they were persuaded by an older brother to commit the crime. Only 81 For 12 elegant cabinets. Hesdeicks & Co., 68 Federal street, Allegheny. Only SI For 12 elegant cabinets. Hexdricks & Co., 68 Federal street. Allegheny. JUST OUT. Spring Novelties in Shoes -AT- POPULAR PRICES. 541 WOOD ST. 541 Sank of Commerce Building. DEALERS IN " LINCRUSTA WALTON," mbl-59 WE VENTURE TO SAY IT PROVES IT PROVES IT PROWS "We are now prepared to show you the finest stock of leading stylesand novelties" in elegant and artistfc footwear for spring to be found in Pittsburg. It will compensate you before purchasing elsewhere to look through pur stock and get our fig ures. You will find that we are leaders in styles as well as low prices. In the history of the furnishing trade in the past eight years, during January and February, the past two months, our trade more than doubled itself That our czistomers have been sat isfied with the goods received from us, and used their influence with their many friends to have thetn deal with us. That our prices have bee?i entirely satisfactory, that while they desire I to otiy a good article as low as possible t(iey have been reason able enough to allow others to live and thriye. That our terms of payments have been in every instance satis factorv and very much appreciated, and so let us here remarJs will they ever be, so long as we are in the business. t ANOTHER REMARK BEFORE WE CLOSE. Our line of Parlor Furniture is our own make and not ex celled in the city for style, quality and price. See it and be convinced. OIJB BEDROOM SUITES, . Of which we have an1 endless variety, are selected with that care and taste that can ohly be done by one proficient in the ousiness. OUR CARPETS AND CURTAINS ' Are gems .in their way, and are no 'little end of our business. We make and lay our own carpets, and do it in a workman- line i "The Famous" Shoe House. 52 Sixth Street. SPRING KAUFMANNS ARE NOW READY 1891 WITH ALL THE LATEST STYLES IN IMPORTED WHS ft .- 1 A FOR FASHIONABLE DRESSERS Gentlemen, your inspection is invited to our new stock of Spring Overcoats, embracing 300 distinctive styles and em bodying everything that can )e desired in fabrics, fit, fin ish -and fashion. All the choicest English Coverts for nobby yountr men, and the more genteel medium long cuts, are sub mitted to you at a range of prices no Pittsburg clothing house can duplicate. Space does not permit 'us to mention the many novelties. We can only state that our stock will meet the wants of the "slims" and the "stouts" as well as the "regular" sizes, and in point of style will please the most fastidious. Before buying your SPRING? OVERCOAT, see our superb and stupendous stock. TO-MORROW! (FOR THIS ONE DAY ONLY) We will offer 650 of these very popular JBOYS' HATS FOR FOR CUSTOM TAILORING, In one of our Smithfield street show windows we have dis played samples of the very latest English, S cotch, French and German Suitings and .Trouserings. They are, however, but an indication of the vast stock now ready for your se lection in our popular Merchant Tailoring Department Every gentleman in Pittsburg who seeks perfection in fit, dress and style is invited to call, and, if he leaves his meas ure, he can rest assured of entire satisfaction in every par ticular. Mr. Williams, our artist cutter, needs no intro duction to the Pittsburg public His skill has made him known to every stylish dresser in the Twin Cities. P. S. All orders left now will be quickly executed. Don't wait till the rush set? in. manner. OUR BEDDING DEPARTMENT We devote considerable time, as too much care cannot be giveri tp ones comfort. Don't forget our DAVIS SEWING MACIflNE. A $20 bill savedvu every machine purchased. CASH OR CREDIT. ' HOPPER BROS., fc PIONEERS OP LOW PRICES,; 307 "WOC-iD STREET, YA fin'- , 1 ' A CO., 307v oiTiLnr 50c They come in assorted colors, light and dark, blue and white, with combination trimmings 25 different styles to select from A few of the same styles in high colors, suitable for girls, also at 50c. Confirmation outfits y FOR BOYS AND GIRLS. Everything in the way of apparel your boy or girl may need, from confirmation or holy communion, can be had here in the greatest variety and at bottom prices. We make a specialty of these goods, and feel confident of our ability to please you. TO-MORROW! Weshall offer these two wonderful specials in our Housefurnishing Goods Department. NEW SPRING STYLES OF BOYS' SHIBT WAISTS The MOTHERS' FRIEND, THE STAR and the STERLING are our special brands. They're" the 'best .Waists manufactured in this country, and, we not only offer them in the greatest variety,but at prices guaranteed to be from 20 to 30 per cent lower than elsewhere. ml Y SXt&S. 1 I ilnJuK&KwA FINE FRENCH CHINA CUSPIDORS FOR C -J. 1 V -fc-L-5 These Cuspidors are real hand-painted in nice floral designs, are square shape, have 'scalloped edge and gold trimming; they are well worth r. ' HERE'S ANOTHER: French China Dessert Plates, decorated with golden leaf in bas relief, festooned gold edge, worth 50c, .OKTL" 15c CAN BE BOUGHT TO-MORROW ONLY KAUFMANNS, , . FIFTH - AVNUE AMD SMITHFIELD STREET. Tzl 4 1
Significant historical Pennsylvania newspapers