Chicago National Bank (Chicago, IL)

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THREE BANKS SUSPEND J

R. WALSH IN CRASH. Chicago Financiers Guarantee Payment of $26,000,000. [By Telegraph to The Tribune.] Chicago, Dec. 18.-Following the announcement made jointly by the clearing house committee of the Chicago Associated Banks and W. B. Ridgely, the Controller of the Currency in the morning papers to-day- that the three banks here controlled by John R. Walsh-the Chicago National Bank, the Home Savings Bank and the Equitable Trust Company-were financially embarrassed, developments were quick and numerous. The most important fact in the announcement of the bankers, made after a mnineteen-hour meeting, was that the Associated Banks would guarantee that every depositor would be paid in full. This coming upon the heels of the failure of Mr. Walsh's banks was reassuring, not only to the banking fraternity of Chicago, but to the public generally. At no time to-day was there any sign of a panic. Promptly at 10 o'clock this morning long lines of depositors formed at the Chicago National Bank-the home of three Walsh institutionsand with a strong police detail on hand to preserve order the bank's employes began passing out money to depositors and kept it up until the closing hour this afternoon. In this time nearly $6,000,000 of the $26,000,000 deposited in the three institutions had been paid out, and the unpaid depositors outdoors were told to be on hand to-morrow morning, when payments would be resumed. Ample funds had been provided by the other banks of the city, in addition to the available funds of the Walsh banks. Shortly before noon John R. Walsh, president; Fred M. Blount, vice-president, and all the directors of the Chicago National Bank, except C. K. G. Billings, who is in New-York, resigned. They were succeeded by a new orgarization of all the members of the Clearing House Committee of the Chicago Associated Banks, viz.: James B. Forgan, John J. Mitchell, Orson Smith, James H. Eckels. Byron L. Smith, C. K. G. Billings and Charles H. Bosworth. The last named, the national bank examiner who examined the Walsh banks, was elected president of the new organization, whose mission it will be to pay depositors and liquidate the bank's indebtedness. This syndicate has taken over all the assets and liabilities of the Walsh institutions and will try to realize all that is possible from the securities turned over by Mr. Walsh and his associates. These are all valuable, but the col-

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LO e enterprise exception the bank Walsh, to and the declared private that in. a por- AsMr. of them must be called comptroller tion surances declares, that were this given. would the kept. be done, but a the promises were not to close Finally the incentive of the Chicago crutiny of the affairs Home Savings National and given the by a banker in New take banks who was had been requested to a loan York, syndicate to furnish for furthpart $6,000,000 in a to Mr. the Walsh Southern Indiana Railroad. did er of expenditures on The bonds not sell of the as company, as however, was expected and were State and aprapidly examiners Up National bank failure of the loan. been exprised of time the the banks had enabled amined to this transfer separately, securities which back the State and forth. them to It and was the decided National that examiner investishould examiner make a simultaneous that the instiThis showed amount, estigation. tutions all had the lent way a large from securities $10,000,000 of the mated on the almost ento $16,000,000 that were owned is said that railroads tirely the paper by Mr. for Walsh. these that loans they It was were Walsh's signed substantiated by clerks. by and the bonds of Indiana, Mr. the railroads, the Southern the latter an and exChicago of Southern, the Southern Indiana, tension Wisconsin and Michigan. the the examiners had concluded for time, When report Mr. Walsh raise asked the money their that he could He was saying straighten out everything. as he hoped to successful in this Ridgeley not to be. as When of Comptroller the situation, he came was informed at once to Chicago. meetRidgeley Takes a Hand. Comptroller Ridgeley of called the a Chicago of the informed ing Clearing House members The and meeting was them of held the of the in the situation. office of Bank the President and continued afternoon from first three National o'clock o'clock this Sunday morning. the comp- It troller until was then five announced the banks by had suspended be paid and that that all depositors other would banks of effect the in full by the to the same the city. was issued A statement by the members of Clearing Ridgeley's House. statement says: Mr. of the clearing certain house that banks "The makes action it absolutely the three instituall the creditors receive of their money relieve imme- any tions diately, will and should on the thus part of troubles the pub- in apprehension to financial situation in 11c in regard The critical have been Chicago. three concerns large loans which these has been due to the mining and placed the railroad, coal controlled made enterprises to owned This and again emother by John R. Walsh. of the managing in phasizes the banks danger being interested large officers amounts outside of institutions on money. time The requiring been comptroller's criticis- Naoffice has condition for some of the Chicago on its offiing the and calling reduce the tional and Bank directors to and the investcers of these loans of Mr. Walsh's amount ments in the In bonds spite of repeated done this should in promises that have been corporations. continued to be prevent these bank. items and in order it was necesthe encroachments to take radisary further for the comptroller The comptroller's endeavoring office cal action. time been the Chihas make for some an examination multaneously of incago to National examination Bank of bank the examiner, State stitutions with an not by the able State to bring this result about of until a examinations few revealed it was serious these but was condition days ago. that The action." such neces- a sary to take immediate

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Politics in the Deal

The Chicago National was a depository for state, city, county, drainage canal and park bonds, The new state treasurer withdrew over $2,000,000. Changes in the park board and drainage canal officers presented the probability of a withdrawal of $4,500,000 more. Thus the bank was unable to count on these funds when it needed them most. It was then he sought assistance in the east, and the failure of his effort then brought on the suspension here.

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Chicago, Dec. 19.-Practically norma) conditions were restored in local banking circles today. Runs on the Chicago National and Home Savings banks continued, but there was no excitement. It is believed by tomorrow night the greater portion of the deposits in both banks will be withdrawn.

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RUN AT BEDFORD

Walsh's Indiana Bank Is Paying Gut Without Help. Bedford, Ind., Dec. 19.-When the Bedford National bank, of which John R. Walsh, of Chicago, is president and principal stockholder, opened for business today, the room soon became filled with small depositors. They were paid as fast as possible. There was little excitement, but the run of small depositors continued. Other banks have offered assistance, but it has been declined as unnecessary. Ridgley's Work Finished. Chicago, Dec. 19.-Comptro!ler Ridgley appeared at the Chicago National bank at noon and spent same time in looking over the work of paying off the depositors. "Everything is going on nicely, and there is nothing more that I can do. My work is finished and I shall return to Washington tonight," he said. Mr. Ridgley declined to say whether any further action would be taken by the government, declaring that a statement in that connection might disclose the evidence in the possession of the government.

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CHICAGO BANKS CALM AGAIN.

Conditons Practically Normal, Although Runs Continue.

Chicago, Dec. 20. - Practically normal conditions were restored in banking circles here yesterday, and there was not the slightest surface indication of the disturbance caused Monday by the suspension of the Walsh banks. The runs on the Chicago National and the Home Savings banks continued, but there was no excitement whatever around the national banks, and very little in the offices of the Home Savings Bank.

A crowd of depositors gathered before the savings bank about an hour before the time for opening the doors and became disorderly. The lone policeman on duty sent in a call for aid and in a short time reserves formed the depositors in a long line. About five hundred men were in the ranks when the bank opened and the work of paying them went off rapidly.

It is believed that by tonight the greater part of the deposits in both the Chicago National and in the Home Savings banks will be withdrawn.

Bedford, Ind., Dec. 19. - When the Bedford National Bank, of which John R. Walsh of Chicago is president and principal stockholder, opened for business yesterday, the room soon became filled with small depositors, who were paid as fast as possible. There was little excitement, but the withdrawals of funds by small depositors continued. Other banks offered assistance, but it was declined as unnecessary.

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HARDLY A RIPPLE

Of the Great Financial Disturbance at Chicago. Chicago, Dec. 19.-Practically normal conditions were restored in the local banking circles today. There was not the slightest surface indication of the disturbance caused yesterday by the suspension of the Walsh banks. The runs on the Chicago National and the Home Savings continue, but there is no excitement around the banks.

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Chicago, Ill., Dec. 19. - Practically Emal conditions were restored in lobanking circles today. The runs the Chicago National and Home vings banks continued but there S no excitement. It is believed that tomorrow night the greater part of deposits in both banks will be thdrawn.

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CHICAGO IS CALM AGAIN Yesterday's Bank Failure Has Apparently Left Little Trace of the Excitement. Chicago, Dec. 21.-Practically normal conditions were restored in local banking circles today. Runs on the Chicago National and Home Savings banks continued, but there was no ex-' citement. AIt is believed that by tomorrow I tht the greater part of the both banks will be withdeposits from:

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Run on Bedford Bank.

Bedford, Ind., Dec. 19.—The news of the suspension of the Chicago Na- tional bank, the Home Savings bank and the Equitable Trust company, properties in which John R. Walsh is interested, created considerable excitement here and was followed by a light run on the Bedford National bank, of which Mr. Walsh is president and owns 60 per cent of the stock. The run was confined principally to small depositors. About 1,000 men are employed in the various enter- prises operated in this vicinity by Mr. Walsh.

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FUTURE PLANS OF J

R. WALSH Former Bank President Will Devote His Time to His Railroad Interests. CHICAGO. Dec. -Since the suspension of the Chicago National bank John R. Walsh has refused to make any statement regarding his future business plans. declaring that he had not yet been able to formulate them. Today Charles H Bosworth, national bank examiner and acting president of the Chicago National bank, made an official statement regarding the plans of Mr. Walsh. He said: Mr. Walsh will tomorrow move his offices from the Chicago National bank building to the Grand Central station. He expects in a short time to connect the Chicago Southern railway with the Chicago Terminal railway which will insure him an entrance into this city. At the bank seventyfive clerks will be dismissed and the affairs of the institution will be closed up as rapIdly as possible. A statement is being prepared for the benefit of prospective bidders for the bank building, containing data and taxes, insurance, and similar matters. My report has been sent to Washington. There is in it no suggestion of criminal charges. If anything in that direction is projected it must be taken up by the authorities in Washington.

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THREE CHICAGO BANKS FAIL Institutions Involved in Operations of John R. Walsh. DEPOSITORS LOSE NOTHING Chicago, Dec. 19.-Three of the largest financial institutions in the west, the Chicago National Bank, the Home Savings Bank and the Equitable Trust company, all of them controlled by John R. Walsh, of Chicago, and in great measure owned by him, have suspended operations. Their affairs will be liquidated as rapidly as possible and they will go out of business. Mr. Watsh, who was the president of the Chicago National Bank and of the Equitable Trust company, and all the other officers and all the directors of the Chicago National Bank have resigned. National Bank Eaminer C. H. Boworth has succeeded Mr. Walsh as the head of the Chicago National Bank, and the places of the directors have been filled by men appointed by the Chicago Clearing House. Back of the new management stand the allted banks of Chicago, which have pledged their resources that every depositor shall be paid to the last cent, and that no customer of any one of the three institutions shall lose anything by reason of the suspension. This action prevented a disastrous financial panic. The immediate cause of the collapse of the institutions controlled by Mr. Walsh is said to be the large amount of money which they have lent to various private enterprises of his, notably the Southern Indiana railway and the Bedford Quarries company, of In diana. Mr. Walsh says that if he could have had a little more time and been left untrammeled in his operations he could have saved his banks and made enormous profits for himself and his associates. He bases this statement on his estimate of the value of the bonds of the Southern Indiana Railroad company. The liabilities of the three institutions are estimated in the aggregate at $26,000,000. Against this amount the banks and the trust company have resources that are, on a concervative estimate, worth $16,000,000. The bonds of the Southern Indiana Railroad company are estimated by Mr. Walsh at $16,000,000. They are considered by the comptroller, the state auditor and the clearing house committee to be worth a little more than half of that sum. The directors of the two banks, as well as Mr. Walsh, who has turned all of his private property, as well as that standing in the name of Mrs. Walsh, have pledged real estate and securities valued at $5,000,000, making a total in assets of $29,000,000. estimating the railroad bonds at $8,000,000, against $26,000,000 liabilities. The deposits in the bank were $14,483,000 and there is due to other banks $2,038,851. The following statement was issued by Comptroller Ridgely: "A misunderstanding seems to ex1st as to what has happened to the Chicago National Bank. This bank has not failed or closed its doors. It has been embarrassed by the investment of its assets in unavailable securities, but the banks of Chicago have come to its relief. and have guaranteed the payment in full on demand, of all the creditors of the Chicago National Bank. The bank is open for business as usual, with these guarantees behind it that it will meet all its obligations and every dollar at once."

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ONE-MAN BANKING The failure of the Chicago National bank and the several others allied with it has called again to the attention of the financial and business world one of the greatest dangers in their structure -the one-man financial institution A bank is a semi-public concern. When one man, and he usually not a trained banker but often a plunger, attempts to "run" a bank there is usually a reason for it besides his inherent desire to afford the public the facilities a bank gives. Either he wishes to dominate the financial horizon or he desires to use more money for personal ends than he can ordinarily command, and so he calls on

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By Marlen E. Pew. Special Correspondence of The Press.

AURORA, Ill., Jan. 22-In Albert J. Hopkins of this town, United States senator, is afforded an excellent example of progression in the commerclia legislative ring that controls law making at Washington.

While a member of the house from the 49th to the 57th congress Hopkins did nothing that would annoy the bosses. He was a patient plodder and "safe" man. Aldrich and the more aggressive lords in the interests of the financial powers had little fault to find with Hopkins when he joined them in the senate.

In Chicago and in Hopkins' quiet little home town it is conceded that this confidfience has not been misplaced. In Washington Hopkins has usually been found on Aldrich's side. either in spirit or in action. He advocated legislation which would give private corporatons contracts to make armor plate for the government when it was proposed that the government make armor plate itself. As a member of the house ways and means committee, Hopkins stood firmly on the sugar trust side when the Porto Rican bill showed its head. He was for the trust in the Cuban reciprocity matter. He paid especial attention, supposedly in friendship for the Illinois Steel company, to tariff regulation matters.

Allied With Walsh.

We will possibly be able to get the best focus on the real Hopkins with Chicago as the vantage point. There he is a lawyer, his firm being Hopkins, Peffers & Hopkins, apparently thoroughly intrenched with a corporate clientele. Peffers is Hopkins' son in law, while the senator's son, James, is the other member of the firm.

Adjoining Hopkins' offices are the offices of the Illinois Surety company of which he is vise prest-dent. In Chicago it does an extensive business, furnishing surety bonds for public officials, administrators, receivers, etc. In widely distributed advertisements of this concern "Hon. Albert J. Hopkins, United States senator," is boldly named a director of the company. Its treasurer and director is Fred M. Blount, who was vice president of the Chicago National bank, one of John R. Walsh's financial houses which recently went into liquidation after state and national bank inspectors had discovered a juggling of assets. Among other directors are John R. Walsh himself; Elbert H. Gary, chairman of the executive committee of the United States steel trust; E. J. Buffington, president of the Illinois Steel company, and P. J. Rennick, a collector of internal customs, Hopkins, Peffers & Hopkins are "general counsel" of the Illinois Surety company.

A Few Pickups.

Less than a year ago Hopkins was attorney in the Chicago drain-age canal condemnation proceedings. He worked, it is alleged, only 24 days. His fee amounted to about $24,000. Chicago was indignant, and a movement, I am told, is on among taxpayers to bring an action to recover.

After the senator's son, James, had been admitted to the bar only a year, he was appointed, through his father's influence, U. S. master of chancery in Chicago. The Chicago bar protested without result. James occupies sumptuous offices and the fee position is said to be worth about $20,000 a year.

When Hopkins was a member of the house the present bankruptcy

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Illinoisan Proved His "Safety" in the House

and Was Welcomed by the System---

On the Side of the Trusts When the

Line Is Drawn---Thrifty at Home.

placed. In Washington Hopkins has parently thoroughly intrenched with usually been found on Aldrich's a corporate clientele. Peffers is side, either in spirit or in action. Hopkins' son-in-law, while the sen- He advocated legislation which ator's son, James, is the other mem- would give private corporations con- ber of the firm. tracts to make armor plate for the government when it was proposed Adjoining Hopkins' offices are the that the government make armor offices of the Illinois Surety com- plate for itself. As a member of pany, of which he is vice president. the house ways and means commit- In Chicago it does an extensive tee, Hopkins stood firmly on the business, furnishing surety bonds sugar trust side when the Porto for public officials, administrators, Rican bill showed its head. He receivers, etc. In widely distributed was for the trust in the Cuban reef- advertisements of this concern procity matter. He paid especial at- "Hon. Albert J. Hopkins, United tention, supposedly in friendship for States senator," is boldly named a the Illinois Steel company, to tariff director of the company. Its treas- regulation matters.

ALLIED WITH WALSH.

We will possibly be able to get the best focus on the real Hopkins with Chicago as the vantage point. There he is a lawyer, his firm being Hopkins, Peffers & Hopkins, ap- urer and director is Fred M. Blount, who was vice president of the Chi- cago National bank, one of John R. Walsh's financial houses which re- cently went into liquidation after state and national bank inspectors had discovered a juggling of assets. Among other directors are John R. Walsh, himself: Elbert H. Gar",

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Officials, administrators, receivers, etc. in widely distributed advertisements of this concern "Hon. Albert J. Hopkins, United States senator, is boldly named a director of the company. "Its treasurer and director is Fred M. Blount, who was vice president of the Chicago National bank, one of John R. Walsh's financial houses which recently went into liquidation after state and national bank inspectors had discovered a juggling of assets. "Among other directors are John R. Walsh, himself; Elbert H. Gary, chairman of the executive committee of the United States steel trust; E. J. Buffington, president of the Illinois Steel company, and P. J. Rennick, a collector of internal customs. "Hopkins, Peffers & Hopkins are general counsel of the Illinois Surety company. "Less than a year ago Hopkins was attorney in the Chicago drainage canal condemnation proceedings. He worked, it is alleged, only 24 days. His fee amounted to about $24,000. Chicago was indignant and a movement, I am told, is on among taxpayers to bring an action to recover.

### Got a Large Fee.

"After the senator's son, James, had been admitted to the bar only a year, he was appointed, through his father's influence, United States master of chancery in Chicago. "The Chicago bar protested without result. James occupies sumptuous offices and the fee position is said to be worth about $20,000 a year. "When Hopkins was a member of the house the present bankruptcy law was enacted. Upon his return home, the position of bankruptcy referee was placed clamly in the hands of his own law firm. His then partner, Frank Thatcher, to whom thus fell the juicy plum, was the son of a well-to-do father and the son-in-law of a millionaire. "The office was a very profitable one for several years. Then the position was passed into the hands of another member of Hopkins' law firm, Fred A. Doiph. The bankruptcy business was practically all gone through with by the time Dolph looked for broader fileds, and then Hopkins generously allowed the refereeship to go to an outside lawyer, J. S. Sears, with whom, however, he was in political aliiance.

### Daughter Weds Secretary.

"Fanny Hopkins, the senator's daughter, acted as his secretary at Washington when he was a member of the house. She told many of her girl friends in Aurora that from her salary she had been enabled to build a cabin at the Half Way House on Pike's Peak, and there she entertained her friends in a series of house parties. David Peffers succeeded her as secretary and she fell in love with him, the marriage resulting two years ago. At the opening of the present congress Hopkins

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RESULT OF INVESTIGATION.

What Led to the Arrest of President Walsh.

It was said at the Department of Justice today that the arrest in Chicago yesterday of John R. Walsh, president of the defunct Chicago National Bank, on a charge of violations of the national banking laws, was the result of an investigation conducted by an official of the Department of Justice. It was learned that the receiver of the bank in his examination of the affairs of the bank discovered what appeared to be violations of the law in making to the controller of the currency the reports on the condition of the bank, and, as is usual in such cases, the matter was turned over to the United States attorney, who found sufficient warrant, in his judgment, to cause Mr. Walsh's arrest. The matter will soon be brought to the attention of the grand jury.

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creasingly difficult to give the necessary time and attention to the performance of their duties as corporation directors. Pursuant to this policy their resignations had already been sent in. The action is generally interpreted as the result of the insurance investigation, although the firm said it had been decided upon a year ago. Ship Trust Syndicate Ends. The $50,000,000 syndicate organized by J. P. Morgan & Co. four years ago for the purpose of floating the $170,000,000 International Mercantile Marine company known as the ship trust, was closed up, March 1, with a loss to its members aggregating $5,625,000. Walsh to Resume Banking. John R. Walsh, whose banking and railroad business failed through federal interference a few weeks ago, is understood to have come out of the sale of his properties $5,000,000 ahead of the game, and he expects to resume control of the affairs of the Chicago National bank. Cash Buyers' Union Held Up. A postal investigation of the Cash Buyers' Union First International Cooperative Society of Chicago has resulted in the beginning of involuntary bankruptcy proceedings, and a receiver has been appointed. It is alleged that the concern has used the mails to sell $1,000,000 worth of stocks to farmers and workingmen. Fish Out of Mutual. Owing to the refusal of President Peabody of the Mutual Life to furnish the investigating committee with certain information affecting the transactions of trustees Stuyvesant Fish has resigned from the board of trustees. Shaw Aids Money Market. Secretary of the Treasury Shaw announced, March 2, that to meet stringent money conditions he would deposit $10,000,000 in the depository banks of several large cities, "satisfactory bonds" being accepted as security and the funds returnable in July.

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BUSINESS FAILURES Jan

4-Parsons. Snyder & Co., Cleveland, O.: liabilities, $150,000. Feb. 8.-Boliver County Bank, Cleveland, Miss.: liabilities, $110.000; assets, $130,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark owing depositors $80,000. 2-Walsh president defunct Chicago National bank. arrested on charge of falsifying reports. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Tels, Smith & Co., bankers. Pekin, III.; liabilities, $100,000. May 2-Delmont national bank. Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis. appointed. Jun. 18-Farmers' State bank of Clearfield, 1a., closed by state bank examiner. Aug. 6-Milwaukee Ave. State bank. Chicago, closed by state bank examiner; liabilities, $4,000,000. 28 -Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000 Sep. 20-Bates National bank. of Butler, Mo., closed by directors -Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. V. Chandler at Macomb, Colchéster and Bardolph, 111., closed for lack of ready cash.

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Head Officials of a Bank to be Prosecuted for Larceny. Mrs. Hartje Wins. A Family is Cremated. A TAHITIAN PRINCE IS JAILED. Runs Expense Account He Cannot Pay and is Arrested for Dodging Autorrobile Bills.-Japanese Make Charges Against Swansey. (SPECIAL TO THE MAUI NEWS.) Sugar 96 deg. test 3.80 Beets 9s. 3d. HONOLULU, November 22.-Alexander Garvie is dead as a result of an operation for kidney trouble. Wallach demands changes in the proposed agreement with the Board of Health whereby he is to treat lepers. As a result of this the row may be reopened. The Japanese accuse Swansey of announcing the Vancouver riots. They say it is a scheme of the Hawaiian planters to hold the Japs here in the islands. SAN FRANCISCO, November 22.-Prince Salmon is in jail here. MELBOURNE, November 22.- In the automobile long distance race here one machine made 774 miles in twenty four hours. ,NEW YORK, November 22.-The President, the Cashier, and one of the directors of the Brooklyn Bank have been arrested as a result of an indictment charging them with larceny. MUSKOGEE, November 22.-The next Trans-Mississippi Congress will be held in San Francisco. PHILADELPHIA, November 22.-Mrs. Hartje has won the final decision in the divorce case. HAMBURG, November 22.--Moeller, the manufacturer of shellac and candles has failed for two million dollars. MARIETTA, November 22.-Edgar Grubb, his wife and two children were cremated here today by the burning of their house. NEWTON, Mass. November 22.-Mrs. Hodges killed herself and two sons by asphyxiation. HONOLULU, November 21.-Rev. Doremus Seudder was yesterday installed as Pastor of Central Union Church. Work has begun on the leprosarium. Attorney General Hemenway has decided that the Government can cut wood from the Forest Reserves and sell the same. Acting-Governor Mott-Smith has refused Consul General Miki Saito a transcript in the Lovell trial. HONOLULU, November -Consul General Saito has requested an abstract of the evidence in the Kauai murder case. Harmon, President of the Mormon Church at Laie, is to be arrested for subordination of perjury. The constitutionality of the liquor law has again been attacked. The Kihei deal may be delayed but it will be completed. COLUMBUS, O., November 21.-A league of Republican Clubs has endorsed Foraker for President. WASHINGTON, November 21.-Miss Shonts will marry the Duke of Chaulneas. CALCUTTA,November 21.-Striking engineers havestopped transportation and 6000 passengers are held up in traffic. WASHINGTON, November 20.-Mrs. Bradley swore that she did not know she fired the shot that killed Senator Brown. Hereafter gradunting exercises at West Point will be held in February. TOKIO, November 20.-Japan will limit Japanese immigration. SACRAMENTO, November 20.-The Senate has approved four amendments to the San Francisco Charter. MUSKOGEE, November 20.-Governor Frear has introduced a resolution recommending the deepening of Pearl Harbor and inviting the Atlantic fleet to visit Hawaii. HILO, November 19.-C. C. Kennedy was married yesterday evening to Mrs. Laura Marsh at San Jose California. They will arrive on the Enterprise. HONOLULU, November 20.--The Supereme Court issued a writ of habeas corpus yesterday in the case of Attorney Vivas sentenced to five days imprisonment by the District of Court Wailuku for contempt of court. The County Supervisors held a peaceful meeting last night. The Steamer Admiral Boreson, from Seattle to China with lumber put into Honolulu yesterday dismasted and with her deck load of lumber washed away as a result of a tidal wave. MONTGOMERY, November 20.--Alabama voted yesterday to become a dry state. LONDON, November 20.--The profits of the round trip of the Lusitania were $60,000. NEW YORK, November 20.-Mrs. Leslie Carter, the actress, is bankrupt. CHICAGO, November 20.-The banks here are ready to resume business on a cash basis. They will redeem all clearing house certificates.

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NEWS IN BRIEF Happenings of the Week Boiled Down For Busy Readers New York landlords cause great suffering to poor people on East Side by wholesale evictions. U.S. Senator Owen, of Oklahoma, accused of acquiring illegally 4,000 acres of land from Indians. Chicago banks have returned to cash basis and financial situation is just what it was before the pinch. President Roosevelt denounces the patronage system and urges enforcement of civil service rules in Census Bureau. Chicago Great Western railroad has been placed in lhe hands of receivers. Overcapitalization caused the trouble. H.O. Havemeyer's will leaves estate of $25,000,000 to widow and three children. No bequests to public institutions. Many gun fights, assaults and on in of tumults Brooklyn and New other Year's camps day the wild and woolly east. This is really important. Los Angeles court decides that a woman need not pay for a tailormade suit that doesn't fit. George Pettibone, accused of complicity in murder of Ex-Gov. Steunenberg, of Idaho, acquitted. Case against Moyer dismissed. District Court of Austin, Texas, appoints receiver to take charge of all property in the state belonging to Standard Oil. Proceedings to dissolve combination between Union Pacific and Southern Pacific to be begun soon by Attorney-General Bonaparte. London Times passes from control of Walter family and into hands of C. A. Pearson, publisher of several newspapers and magazines. Jury in Caleb Powers case disagrees, ten for acquittal and two of for conviction. Fifth trial Powers for the murder of Goebel set for July 6. John D. Rockefeller gives $2, 000,000 to Chicago University as New Year present, making total contribution more than $23, ,000,000. But he hasn't paid that fine yet. United States Supreme Court, by five to four, decides that the employers' liability act, applicable to common carriers engaged in interstate commerce, is unconstitutional. F. Augustus Heinze, the copper operator, indicted and arrested in New York for aiding his brother in looting the Mercantile National Bank to the tune of $400,000. Fowler banking bill proposes to retire all outstanding national bank bond secured notes, and thorizes in lieu thereof a currency based on the general assets of the bank. Hudson Maxim announces invention of torpedo boat to travel

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SOUTHERN INDIANA RECEIVERSHIP EXTENDED Chicago, Aug. 26.-The receivership of the Southern Indiana Railway company was this afternoon extended to the Chicago Southern Railway company by Judge Kohlsaat in the United Stateg circuit court. The receivership is in accordance with the petition filed by that road last week. Myrón J. Carpenter, receiver for the Southern Indiana, was also named as receiver for the Chicago Southern, Both roads were among the assets of John R. Walsh at the time of the failure of the Walsh bank, the Chicago National.

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Receivership Is Extended

Chicago, Aug. 27.-The receivership of the Southern Indiana Railroad company has been extended to the Chicago Southern Railway company by Judge Kohlsaat in the United States circuit court. The receivership is in accordance with the petition filed by that road last week. Myron J. Carpenter, receiver for the Southern Indiana, was also named as receiver for the Chicago Southern. Both roads were among the assets of John R. Walsh at the time of the failure of the Walsh bank, the Chicago National.

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Receivership Attacked

Chicago, March 23.-Judgments for $1,000,000 against the Chicago Chronicle company in favor of John R. Walsh, majority stockholder of the newspaper, which suspended publication at the time Mr. Walsh's bank, the Chicago National, failed, are attacked in a bill filed by Celia C. Russell here today. The bill asks that the appointment of W. I. Dickinson, assistant treasurer of the company, as receiver, be set aside, charging that the whole transaction is tainted with collusion.

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Receiver for Two Walsh Institutions Illinois Appellate Court Hands Down Decision Upholding the Appointment. CHICAGO. April 18.-The Illinois appellate court today upheld the appointment of a receiver for the Chicago National bank and the Home Savings bank, the John R. Walsh institutions, which went down with his financial crash in 1905. Stockholders had sued C. K. G. Billings of New York, one of the directors of the banks, for $3,000,000, the whole amount alleged to have been lost by them. Their plea was based on a statute holding and one directly liable for all losses sustained through his failure to prevent illegal practices on national banks.