The Red Cloud chief. (Red Cloud, Webster Co., Neb.) 1873-1923, June 14, 1923, Image 8
RED CLOUD, NEBRASKA, CHttZT X mosquito elriss while tit work and see, how popular It In. 31 Is suggested thnt ono way to Bend tte price of sUgar down la to send tho profiteers up. .Attorn'firo'crtc vvlj havo a Htrnna lobby at tho next legislature to repeal too Ti6w 'trnirringo law. ' "' I agree with tho man who snya thai about all ho can over hear over th ndlo-lRidoiueono.fryiug llsh. I havo ono brother In tho auto Mobile business and tho other la la sreuble most of tho tlmo, too. People used to try to got out ol feet. Now they gut road when thoj avWnat allowed to go In deopor. IT pooplo didn't 'feed their bodlef amroftenor than, they do tholr mlndt late 'would' 'bV a skinny old world. Are ymf "ofd" 'ontfugh to romombot tho tlmo whon town rows started ovot laving hltchrucka on main atroot? A. .Grand Inland man bragfl that hit wire can do Just as much work lo fiW field as any' man he over paw. After you cool off you arc alwayi ad you didn't do tho things you Okrcatcncd to do whllo you wero mad T nover kick unless I havo somo tiling to kick nbout. Dut, at that, 1 can't hoo that It does mo much good Lots, of hUBbands act Uko thoy art afraid If they got any money ahead their wives will buy something they need. Mother would be happier If she would spond less tlmo making daugh ter look pretty and more on hor oWn looks. When I rldo In n car with someone elso I nm like a bashful boy nt 't party. I don't know what to do with my. hands. 'Somo folkB say thoy Just can't con Jrol' thelr'tcmpors. Dut I havo noticed that. It is no trouble if tho other fellow Li tho largor. Bill Israel belloves in always doing rood. Tho other day when his auto mobile rofusod to run ho told it all about future punishment. A' banRor says the difference be tween capital and labor is that capita' is what you loan and Jabor Is -what il takes to get It back. tr Fletch Merwln pessimistically ob serves that ho nover expects to got all, tho praise that Is coming to him until ho attends his own funeral. One old grouch of an odltor sayi the govornor Is rapidly discharging jjolttlclanu. from office and replacing ttem. with, equally good politicians. Evolutionists say It took tho Cro ator thousands of yours to make men f monkeys. Dut a woman can make a monkoy of a man In ten minutes. It Is no troublo for a wlfo to get lor. buaband to dress up If a bunco at pretty girls are coming. Hut It I? 4 Iff went whon she ontortalns tho mis ataaary society. A Columbus man who stopped o charge of shot while In his neighbor'; hencoop told sympathetic callers that ae watt suffering from, shooting pains Whoa big. political loaders dlsagrot jo much Hank. i-oggctt wants to know tow.Jn, thunder, a.tcommon plug conn toy editor Is to know what- to bo Move. . i.v Lew Sholloy bqlleves In the llghl at recent developments, that some ot S government dollar, a year men eweUnclo . Sam at least 75 cont ahan'ge. If peoplo .would' buyy.new hooks tc yot., Insido their heads as freely a theyj, buy new hats .to put on the out ido of their heads thl3 world would ae a wisor place. Moat of .tho trouble In this world S caused by trying to Batlsfy a Pack aril tasto wltli a flivver Income. Lam not tin authority on etlquc ftut ram sure It is ulwnys good fori) kd always offer tho other fellow you alug before taking a chow yoursolf. .Aso Wood la starting his regulnt xunual grouch about having to supply stxn with n few meals. But I don't Trend-, to worry' ns ldng aa his town oatalns a candidate for governor. A magazine ml for a gas stovf tmplmslzes tho fact that tho oven nxx be used for baking ami roasting Somo folks might bo fool enough tc Wifnk that ono could fry eggs In It It is said (hat doctors and dontlate lliMt tholr indlffcronco to pain whon tke'yi are tho Victims. ' ' " a finnn way m n vvuu v muts del , Further Exposures of How Edison-Ford Money Plan Would Fail to Aid Farmer. Tho way tho Edison-Ford "commod Ity money" schomo, alined to stablllzo monetary values, would havo exactly tho opposite effect, Is discussed In tho present article, which is tho second In a series prepared by tho American llaukors Association, reviewing the ex posure of tho weaknesses of tho plan as presented by William T. Foster, Di rector of tho Pollack Foundation for Economic Research. Drlofly stated, tho Edison-Ford plan provides for Government warehousing of basic commodities, against which currency would bo loaned to tho pro ducer without lntorost, up to half the avorsgovaluo of tho products for tho previous twonty-flvo years. This ourrancy would bo cancelled aa tho commodities woro withdrawn and pasted Into trado. On th'o othor half of the ysluo the producor would receive "equity certificates" which ho could aell or use for bank loans. On these points Mr. Foster saya: Upsetting Price Equilibrium "Steady prlco lovols depand mainly on tho balance between the volume of goods on tho market and tho vol ume ot money ''oftored tor goods.. The Edlaon plan la designed express ly to upset tho balanco. A farmer do Hvera, aay, two thdusand bushels ot wheat to the dovormont warohouso and the Government delivers ono thousand dollars lc how money to the farmor. Whon tho farmor sells tho, wheat. he repays tho loan and tho Qov erqmbnt dostroys tho money. Thus the volume of monoy Is lncrgaaed precisely when goods aro atocedand tho volumo of monoy Is dacroaspd.-Dro-clsoly when thoso goods aro.maiciied. In other words, each transaction' be gins by placing in circulation goods without monoy to match tho goods. Dollar domarid is created as tho slip;' ply ot goods Is withdrawn; tho sup ply of goods Is created as dollar de mand Is withdrawn'. "Would ltenablo tho farmor, to bor row moro monoy -on, ihla , products than ho can now borrow?. Whon Mr. Edison conoids that farmers , wold obtain larger loans . on ther crops than they can now. obtain, from banks, ho Is contconUjd by' this dilemma: Either Uteubftnk;,aro now refusing to jnakonBOundJoans, or, under tlie Edlaon plaojiTthojjaqyprumont wbtild: makomnsoundulpana,' '" ' ' "Nolther. Mr. Edlaon nor Mr. Ford can conBlatonUy contend,', that batiks ..... - 'nt.li',. 'nnu'tirl IrviVWfo uyvi ioiuou w ..... .--, that la the way banks make most' of their profits, and Mr. Edison 'and M Ford havo no doubl that banks" are conducted for profit. It follows 7that the plan would yield larger loans. to farmer only It the Government 'met tho risks of unsound banking. In that case " all that' Insolvent borrowers gained would be paid by tho rest Ot the population, which, to Bay tho least, 1 npt a fair deal. Cutting Down Farm Credit "Apparently, however, the Govern ment U not expected to run many rUka, for tho farmer Is allowed to borrow an amount no greater than one-half tho average value ot ois product for the previous twenty-flvo years. But prices havo risen so high slnco 1898 that tho farmer could bor row op most products much less than half tho present value of the products. It would bo much less, therefore, thai) tha farmer could borrow directly from tho banks on graded; products; on products not gradod no ..Govern ment loans would be made.rfor there would bo no way ot determining the twonty-pvo-year price averago. "Ifowevqr, tho farmor, having ob tained tbp stipulated Oovornment loan on his goods, could then offer his equity certificate to a bank for an ad ditional loan. But tho eaulty certifi cate la virtually a second mortgage, and np ban wouiu preter a aucuuu mortgage to a nrsi moriftagu. "Suppose, the Old National Bank was willing to lend a farmer eight hundred dollara on ono thousand bushels of wheat. Suppoao. howovor, tho fariffer deposited the wheat la a Federal warehouse and obtained five hundred dollars from the Government. Certainly tho bank would not lend the farmer three hundred dollars on tho equity certificate. The protec tion ot tha bank would be greater It the farmor relied on tho bank for tho entire loan; for In that case the bank could realise on Its security without being obliged to pay live hundred dol lars to get the wheat out ot Govern ment storage. Tho farmer can now borrow moro money from a bank on standardized farm products than undor the Edison plan." GETTING TOGETHER "Tho earth and tho fullness there of" Is .tho primary sourco ot capltnl. Tho farmer, therefore, Is tho nation's greatest producer of wealth. Farm lug and banking production nnd dis tributionshould go hand In hand. Tho problems of Uio farmer nro the problems of tho banker. Both nro vitally concerned In bringing about a proper adjustment of transportation and marketing costs. Tho Increasing tondenc'y' toward a moro sympathetic understanding of each other's rela tion to theso problems Is ono ot the very encouraging signs ot tho times, ami will' result In furthor advance ment" lit their mutual Interests. Wnl er W, Head, First Vico President jjojrican Bankors Association. ur ithe service ""71 n-p, . TJATTTTOIT BY J. H. PUELICHER President American Bankers Association When Gov ernor Walton of Oklahoma signed recently tho re peal of tho hank deposit guaranty law In that state, ho performed nn economic sorvlco to tho whole coun try. I might oven say that Okla homa In passing J. H. Puellchcr that law, enduring Its ovll conse quences for fifteen years and then frankly casting It aside as a falluro, has porformed an economic sorvlco to the nation. There could bo no moro convincing argumont against tho pas-, sago of similar laws In other states than Oklahoma's disastrous export tnent The Oklahoma guaranty law was! tho first ot Its kind. It was anacted In responso to tho panic of 1907. But experlonco has only proved again that4 there Is bo subatttuto tor sound bank ing. Relying on the fancied security of the guaranty law, people entrusted their banking to many who woro un-'J fit for the truat. Bank fallurea have? boon so mapy that, tho fund, aup- poaod to guarantee deposits, created by assessments on banks, waa long ' ago depleted. It is estimated, that with total liabil ities .croated under tho law In the. form' of warrants and auma owing to. depositors amounting to $12,000,009, bucia tuu iu ma uuiiu. v. vm. . m.. Board uncertain assets oi nominally, tlf nnn.OOO. rancrlns in valuo from T , , , . ... .r r,,.i roro to only thirty or forty( cents on tho dollar, resulting In a 'deficit' ot' ' ,many million dollars. Sound, woll-man-"- aged .banks havo boon hoavlly taxed by assessments to tho fund; -and the maximum amount that could be as-. sessed' on s6lvent bunks Is Insufficient to cover tho deficit. It has been well said that guaranty laws make for looseness In banking methods, and. saddle on the com petent and honest tho sins ot tho In competent and dishonest; Let us have only laws that raise tho standard of banking. Let us have: no laws that debase It. - v NEED FOR UNIFORMITY IN BUSINESS LAWS r.. i U i". - i , How Collection of Just-Debts May Be Prevented ;by Differing State Statutes. , An effort, to bring abdut better co ordination"" and greater uniformity among state laws dealing with busi ness -and banking is being made by tha 'American Bankera Association. It la pointed out that, although the country la a unit commercially, and citizens ot any onostato may do busi ness that reaches all over tho coun try, most laws governing business transactions aro mado by the differ ent states, with application limited to tholr own local Jurisdictions and often In conflict with taws In other statoa. It la held that state laws should be unttorm so that the same transaction will not bo subjoct to different sets of rules according as state laws differ. To Illustrate- th disadvantages of conflicting laws, the following Illus tration la given: Mr. Jones lives la New York where the atatute ot limita tions outlawa a nolo' In six years. He falls Into the error ot assuming that tha .aaino rule prevails o'vorywhere. He vlaita Maryland and loans $1,000 to hla friend, Mr. Smith, taking a oromiaaory note. Aa the note carries Interest Mr. Jonea la In no hurry tor hla money and ho believos Smith to be financially responsible. Finally at the end of four years Jonea conclude he has loaned Smith the money lotg enough and seeks to collect the not from him. But Salth can deny liabil ity and point to tkw statute ot Mary land which Jones la surprised to learn outlaws a note after' thres years. ( Changes Recommended tlJfl&V The particular subjects ot legisla tion recommended by the association for enactment by State legislatures during 1923 Indus' uniform acts on negotiable Instruments, bills ot lad ing, warehouse receipts, stock trans fer, and fiduciaries. Under the head of laws for better protection ot banks in particular transactions aro proposed measures dealing with limiting liability on cer tified check; instruments based on gambling or usurious consideration; tlmo limit on stop payment; payment ot stale check; adverso claim to bank deposit; payment of forged or raised chock; doposlta In two names; de posits in trust; competency ot bank and corporation notaries; non-payment of check through orror; Satur day afternoon bank transactions, and forwarding check direct to payor. Undor tho Federal Beservo and foreign banking nro recommended laws oh membership ot state Institu tions In Fodoral Resorvo Systom, and foreign banking. Penal laws pro posed deal with false statements for credit; slander and llbol of bank; checks or drafts without funds, and burglary with explosives. EASY MARKS ARE PLENTIFUL ' Business Man Known to Have Given Out Good Money for Something That Was His. ' A friend of mine told me the other night nbout u small mnnufiictiircr who ! enme to Washington from, we'll say, Toledo. Jlnuk honie he'd got stirred tip about n hill thnt was .somewhere In the milt nt the capital. It hit his busi ness nnd ho wanted to lie In the know. Thought he'd hotter come to Washing ton himself nnd got his Information llr.st-hund. Some friend told him to look up n ninn In Wnshlngton, ono of these ".Sli-h-h! Lenve-lt-to-me" hoys. So the Toledo ttititttil'ncttiror rings up this Mr. Flxlt, who prohi'iitly turns up ut his hotel, very mysterious. "Well," says Flxlt, nibbing his chin In tho most approved judicial manner, "well of course, you understand there are ways of finding out," with Just a touch on tho loud pcdnl on the "are." "But, as you might say, you've got to kiow the rop3. Let mo look around a bit: I'll meet you tomorrow nt 10:30 o'clock." ' Next day he's on deck again, very much pleased anil still very mysteri ous. "Como along with me," snya tho Sh-h-h' artist, and the two of them hop a taxi for tho jhtll. There the factory man, Is led. Into the senate office build ing, where Mr. Flxlt pops Into nn of fice or two, leaving our friend and hero, Mr. Georgo W. Come-on, out In the lobby. Protty soon Flxlt comes out looking wiser thun ever and they hop over to the cupltol. ' Once more the visitor' !3"leTt to wait In the rotunda to admire the statues while his new friend slips Into another room. life' comes' hack In a minute looking like "seven Solomons, only a lot more mysterious, and suys: "Quick ! Cdmo on. 'Sail rlxht. But wait till "we get In a cab." Once In tho cab, the business man la handed ucopy of the bill and a com mittee .report". "Stick. It In your pocket till you get bius'k, to" the hotel," he is told. Which he does, of course ; and In the end ho pays $2."0 ,for two documents' which ho couldiiUjVu had for nothing and it lit tle putleiteeTjust by asking. The Na tion's Business. M Islands Reserves of Timber. In Borneo, the Philippines and New Guinea,' there Is. a 'field of wealth which has "been hitherto little explored. H Is computed thnt the value of the timber on theso l.slunds would equal a suni sut'llclent to pay till' the allied war de,bts. Antong tho choice trees In djgenpu's.to the Isles are the cumugOrf, wrhose..p'ood Is yellow nnd blackllke tortolseshell, and the mplnve', Wiilch'rel sU'ts' the 'ruVages of ''white ants unil sea 8lu'gs,'soilestructlve to ottier trees fCjiefels aja'a fine growth '6f ntuh'og; ajiy, bofli ' red and yell'dw varieties ilie rel' taking 0n a beautiful rich win-) fljblor w'l'ien, immersed In sfea water. The all iuwn, used In the' making of uiaHts.und ships la found In plenty, as 'yvell aa the dugan, whlcli la the hard eat wood known. The difficulties en countered In taking out timber In Bra zil, due to climatic and other condi tions, obtain In a not greatly leas de gree In these, Islands, a fact which probably accounts In a measure for" their having been as yet so little ex ploited. The use ot uirplanes to fly over Impenetrable forests bids fair to open tip much unknown territory. Clever Gorman Thlevss. An amar.lng boax has been played on the small Prussian town of Man hausen. A stranger, -a ho said he rep resented tho provincial authorities, In formed the local council that he waa charged with the duty of making cer tain changes In the electric lighting ar rangements. For this purpose the ex isting wires nt the power station must be removed and better ones substitut ed!. The town, he added, wpuM have to remain unlit for a day. The 'conn- ell duly assented. Next day there, ar rived "mechanics," who 'dlstharitled more than 1,000 yards of copper wire. Residents, delighted to lend a hand in what they believed to be a preliminary toward getting a better lighting supply, assisted the strangers to transport the wire" to the railway station. The se quel la thnt Marzhauaen has been dwelling In darkness ever since. The only light that so far has dawned upon ,.the Inhabitants la that they have been the victims of a clover gung or metal hleves. A Small World. , Following tho armistice Lieutenant Paul .T. Smith of 'this city, now of Eldorado, Ark., wont to France as a K. of O. secretury, and lived nt the home of a charming French family with two daughters. After his return to the Stute.s, letters wero exchunged for uwhlle and then gradunlly ceased. One day last week n letter was re ceived Inquiring whether the recipient could possibly be "Smltty" of the class of '10, Notre Dume, nnd, If so, to let the writer know, as he wns Louis Pat rick Hore, n fellow classmate, now a Paris representative of the Chicago Tribune and the husband of ono of the French (,'lrls before mentioned. In dlnnapolls News. Should Be Interesting. After hnvlng spent 02 of his 02 years In prlsnn i.n tho Nl'ind nf F.llm, Car mine Doimtolln C'riicco, at one time the most dreaded bandit captain of southern Italy, has published his me moirs, according to reports In Italian papers. Crocco left the tinny of tho king of Sicily when n youth, took up banditry nnd became ho powerful thnt several thousand troops were necessury to capture and wlpo out his bund. He was sentenced to life Imprisonment. wavaw.v.v.v.v.v.v.v.w.v.v.v.v.v.v.v.v1 Place Your Coal Orders Now !i The Mallone WSWVVVUVVVV.V.VV.V.V.VAVV.VV.V-"AVVJVWAVW1 Order and Notice of Probate. In the County Court of Webster County, Nebraska. In the matter of the estate of Swain Q. Johnson Deceased To all Persous Interested In Said Estate TAKE NOTICE, That a petition has beeu tiled herein, praying for the pro bate of a certain written instrument, now on file In this court, purporting to be the last will and testament of Swain H. Johnson, Deceased: and thut said Instrument be admitted to pro bate, aud that administration of sal'd estate be granted to Sophia Jo,Unaou, as executrix It is hereby ordered that you and a 1 persons Interested In -aid mutter, may appear at the Cduuty Court 'room, iu the Clry of Red Cloud, In sutd 'cbunty' ai-d srnte" on'the 23d'day of June, 192:1, at ten o'clock A..M. to show' cause if aiy there be, why the prayer , of,' the 'amination of the men who attended petitioner should not he grniitttii, uitd ast years camp, Tnelr weight ac that notice of the pendeuoy of said pe- cording to thc government's examln'n tlttoo, and tuehearim: thereon, be Kv-.tion ncreaaeil 5 lbs f-r eacli en to all persons interested, oy .puo-; iiining a copy oi iuis oruer iu me uura Cloud Chief, a legal weekly ' newspaper published ic salil county, for three Stic-ce-Mve weeks p.rior to said day of hear- 1,1 1"' .. Witness my aud hiiiI tlie ieal of the County Courmilb.l-5td.iy oi June, 1023. (Seal) r ' A,'D,. KaSNEY, ' Judgeof.theConnty Court. Howard S. Foe," Attorney. t i -U-J., v'". .1 .'... yot::i:g:x:cg: VA S "U- Cl-j What's ina J 'ra Mr MILDRED MARSHALL ImdwJd MADELINE R IBLB history Is .responsible fin J 1 ' ' Ma- - ongtn or oiaaeiine. i.ne oniy yo sible source of the name Is the-N(rW Testament1 story "ot"Pe "tnyjlc figure, Mary Magdalen. Magdalen, It seems, latea Into "of Magdulfl," the village ol the scarlet woman's birth, and Is re garded as an adjective of place. So the soft hurmony of "Magdalen" was nbt employed as a proper name at will be pleased to give further de that time, but history records that tails various Institutions, or rescue homes : for unfortunate girls, sprang up under the name, until it began to be used M synonymous for fallen women. Writers, artists, and poets, who find fascination In portraying the type of Mary Mas' I dalen, with her luxury, her embrold- ored robes and flowing hair, and'hec In'evitublo tears as a repentant sinner, kept the two names in vogue. But , finally the "Mary" was dropped com- pletely and only Magdalen persisted Kach nutlon has taken the asms Magdalen and placed upon It' th. stamp of Individual spelling. ICngUad calls her Mudalene, eliminating the "g" "for tho soft aound; Madeline, Maudleno, and Maun are other Eng- Ush derivations. Franco prefors Made- lelne; Spain und Russia, .Maaelina. The French also claim the derivations Magdalene, Madlen, Lone, and Lea chen. Maddalena la the Italian ver sion nnd Lei I la Swiss. Despite the story of Madeline's ori gin, the poets have chosen her name rather to portray' the shyest and most virtuous ot maidens, tho typical sweet heart to whom young lovers write odes. The best known poem to "Ever Varvlnu Madeline" runa: Smlllns, frownlns. evermore, Thnu art Derfect In love-lore. neveAllnga deep and clear are thine. Of wealthy amltes; but who may know. Whether mlle or frown be sweeter, Who may know? Madeline's Jewel Is tho moonstone, that gem so potent for lovers who may read their future In Its opalescent depths. It she wears her tulismanlc stone, Madeline mny have her heart's promises. The poppy Is her Mower, 3 Is hor mystic number nnd Saturday her lucky day. t kr(' Wheeler Syndicate Inc.) Ye , Garber's Is The Place! To Buy Wall Paper. Paints. And Electrical Supplies. The bestplace for Picture Framing. Vrt I - Gelatly Co. FOR IMMEDIATE RELEASE Omaha, Nebr., June 11. Realizing that, "An Army fight3 on it3 belly," the United States government is mak .ing every prefl ration to properly feed the 4,000 students, who willat; tend the third series f the Citizen's Military Training Camps, w.htch. -.will be held in tho Seventh Corps Area during August. These camps, will be held at Fort Snelling, -Minnesota; Fort Leavenworth, Kansas and Fort. Des Moines, Iowa. ." There will be 360.000 meals- pre pared at these three camps and they , will be's'ich as to properly nourish students wh? are requ'recf to- wdrk 'hard and play hard. ' '"' ' The fact that these students flour-' ish under the government's super vision is proven by final physical c'rt- . . . According to the government's compilation it will require within the Seventh Corrs Area, G5 tons of beef, 63 tons of bread, 75 tNi. of potatoes or other fresh vegetables, to say nothing of the numerous other artir Icles required to feed 4.000 hungry boys. j Just as was ibne during the World ' War, the students will be divided in to companies and each company will, ,have a separate mess; This mesj-vyill- be under the supervision of the cele brated Army Mess Sargants and cooks. Young men between the ages of 17 and 24 are elig'ble to .attend .these camps. Four courses will be offered the Basic Red Advanced Red, White and Blue. All training is tor the purpose of preparing the candidates to be of ficers in the Officers Reserve Corps. The War Department has supplied n .AMkutAHi-n t!aA . C 4Un. f!1!-nM Tun !n iciiiewmumc ui my mmwij nam ing Oamps Association in each town. as well as the railroad station agent, and postmaster with fuli details of , , , P7,' Major General George B. Duncan, Commander of the Seventh Corps Area, Army Bldg., Omaha, Nebraska, Sheriffs Sale. Notice la hereby given that under and by virtue of an order of sale issued from the office of Clara McMillan, Clerk of the District Court of the Tenth Judicial District within and for Web- ster coanty, Nebraska, upon a decree in an action pending therein, wherein ....... T , , , j . Walter J. McCoy et al are defendants, l 8hlU offer for 8al at PubIlc v"du'-', according to the terms ot said decroo, to the highest bidder for cash in hand, at the south door of the Court House at Red Cloud, Nebraska, (that being the building wherein the last term of said court was bolden) on the 10th day of July, 1023, at 2 o'clock p. m, of -said day the following described property, to. wit: l'he South West Quarter, except about one and one-halt uure thereof iu the southeast corner thereof uaed'foru cemetery, of Section Ten In .Township j Four, Range Twelve, Webster county, . Nebrnskn. Given under my hand this Uth day ui iiune, i vs.). JACK WALLER, Sheriff. The Margin of Safety Is represented by tho amount of insurance you carry. Don't lull yourself Into a fancied security. Because fire has nover touched you It doesn't follow that you're Immune Tomorrow -no today, if you have time and you better And tlmo come to the ofllee and we'll write n policy on your house, furniture, btore or merchandise. -LATER MAY HE TOO LATE- O. C. TEEL R.elia.ble Insurance . i V kS