THE FALLS CITY TRIBUNE
Consolidations—Kalis City Tribune,
Humboldt Enterprise, ltulo Record,
Crocker's Educational Journal and
Uawson Outlook.
Entered as second-class matter at
Falls City, Nebraska, post ortice, Janu
ary 12, l'*>4. under the Act of Congress
on March 3,1879.
Published every Friday at Kails City
Nebraska, by
The Tribune Publishing Company
R. N. OLIVER, - • • Manager
W. H. WYLER, • • Editor
One year....$1.50
Mix mouths .-.jP-.
Three months ■ ■4,)
TELEPHONE 226.
Attend tho Mayor's banquet and
be genial, smile.
We want that Union Station. We
can bate it if we want it hard enough
Senator Hitchcock asked that lits
election be made unanimous, but loy
al republicans would not a l oiuodato
him.
The liberal hospitality of the people
of Falls City in opening their homes
to the new comers and thus milking
room for them has gone a long ways
toward helping over the present con
gestion and making the division peo
ple reasonably comfortable until new
homes can lie built.
Building operations in this city are
being pushed in the teeth of the cold
weather by the more enterprising of
our contractors. A number of house
are going up ns rapidly as the frigid
conditions will permit. The occu
pants arc- waiting to take possession
the day they are far enough advanced
to permit of their being occupied with
safety and comfort. Contractors and
workmen are only waiting for milder
weather when the sound of the trow
el, the hammer and saw will ring in
every quarter of town.
There is little- doubt hut that the
Burlington lias a sweet plumb up its
sleeve for Falls City, and at the op
ortune moment will spring a surprise
on us that will be as agreeable as
unexpected.
Recent changes in the ownership of
the Missouri Pacific promise to he
of material advantage to the future
of Falls City. The talk is leaking
out that the projected Topeka exten
sion is to be undertaken in j-arnest,
now. Ofeomse the northern termi
nal of this division will be Falls City.
Tho Mayors banquet nt tho Nat'lj
Saturday night, for tho Division men
is a splendid move and one that wilt
go a long way to quickly establish tho
most cordial relations between mo
It. It. people and the citizens. This j
is a condition that is much to be de
sired at this time because of the dan
ger of misunderstandings arising and
illfeelings being gendered. It should
bo tho duty of overy citizen who is at
leisure to attend and make the new
comers not only feel welcome but
give them the glad hand of fellowship
find make them feel that Kails city is
HOME
Personally, tho writer is sorry that
a previous date in another state pre
vents hi* being present. The Tribune
extends to our new citizens a hearty
and whole hearted welcome and will
assure them of a warm corner in its
columns devoted to their interests.
Out of the smoke ot the battle we
now discern that the defeat of the
republicans last fall was not a per
manent rejection, but simply a warn
ing and rebuke. The independent vo
ter, in other words, lias no inten
tion of going over to the Democrats,
nor is he Utopian enough to think
of a new party.
But something had to be done. Th«
smarting back of Wall Street cried
for revenge. The business interests
of the country wanted the railroads
let alone, and the great middle class
who suffered most from the high cost
of living, wanted the tariff reduced.
If, now, the President and the Re
publican leaders every where re ad
just themselves to the jolt they have
received, victory may come to them
again in 1912; but otherwise a more
severe chastising will be given,
■whose groaning will endure for four
years.—x x x
The wise men wlio know are staidly
stroking their beards and profoundly
turning over in their minds the su
preme problem for Fails City. What
to make the great Issue of the com
ing election. It is to lie si in crely
wished that sober judgment and good
sense will be permitted to prevail and
that the ri al needs of the town in
view of present conditions and future
developments, will In- made tile issue.
Tliis is a time when above all else
we need to get together and work as
a unit for the larger and more perma
nent Interests of our city. We can
well afford to lay aside tin* differen
ces and prejudices of the past in view
of the bigger and more important de
velopments that now confront us
We need a strong and impartial city
administration, and it is for the cit
izens to see to it that we gi t stiell
an administration. We can at a cri
sis like* the present afford to illimi
nate sentiment and politic s. The
task Immediately before us is no ligh
one. And the men who undertake to
shoulder the responsibility of meet
Ing the the problems o( our growing
city for the next few years should
know what they are about. Upon the
manner in which we meet the presen
problems will largly depend the per
manency of our future growth and
development. I5y showing a lack of
Interest and appreciation at this lime
it will not lie difficult to largely dis
sipate our future chances for still lar
ger and better tilings. We can afford
to he circumspect and to take pains
to advance along lines that will meet
with the hearty approval of men of
an Industrial turn who are thinking of
investing their capital in works in ou
town.
WHAT OTHER PAPERS SAY
The postoffico ruling that you
must pay your subscription is no hint
You o’ gilt, to pay it anyway, if you
owe it, hut we can't scud you the pa
per on credit Hiawatha World.
The law limiting newspapers to the
right to go through the mail free to
paid subscribers only, was enacted by
congress to prevent several publica
tions that had no real subscribers
from filling the mail sacks with hun
dreds of thousands of copies being
sent out to advertise fake medicines,
jewelry and trinkets of that kind.
The law effects all papers alike and
prevents daily papers from extending
a credit to subscribers for a longer
period than three months.. The news
papers vnuld he quite willing to
grant credit to most of tUcir subscrib
ers for a ’‘iiiucl] longer period, but
they cannot afford to pay the penalty
of the law trying to accomodate sub
scribers. The pay-as-you-go or cash
system, is the most satisfactory in
all lines of business anyway, and
subscribers must adjust themselves to
It. In the end both the newspaper
and the subscriber will be benefited,
the fact that his account is delin
quent does not release a subscriber
from the payment of all back dues.
Daily Journal. Falls City.
. The Tribune lias repeatedly called
the attention of its readers to this
ruling of the lT. postoffiee depart
ment. It. appears however tHat some
have taken our efforts to enlighten
them unkindly. The Tribune has al
ways been liberal in the extension of
credit for the convenience of its sub
scribers and has no desire to be ar
bitrary at this time. However, we
have no choice in the matter. Unless
our subscribers pay up with reason
able promptness wo are compelled by
the law to cut off the paper much as
we may dislike to do so. We are
therefore, asking all who know them
selves to be in arrears to give this
their immediate attention. We dont
want to disappoint you. And we are
also of the opinion that you would
not care to be the cause of getting
us into difficulties with the depart
ment. Some are inclined to think
that we are unduly emphasizing this
feature for effect. This is unkind to
say the least. Any subscriber who
has his doubts about the law can get
ad the information he desires by ask
his local post master. The law is
severe , and admits of no fooling as
a consequence publishers all over the
country are urging their subscribers
to settle up, and where they are too
dilatory they are cutting them off.
Guarranty Deposit Law
_ — ■ ■■■■■■■ iimii i ■■■■■■! ■ an iminm—m—nrmrnimiirirTirimm»«Mi nr
"The last legislature enacted a law
was enacted in 1!I09, was not put into
operation for the reason that it was
taken into the courts to test its va
lidity.
The Supreme Court of the United
States has Just passed on the Law
and held it constitutional. It will
therefore soon bo in operation in this
state.
It thus becomes a matter of interes
to all. We consequently reprint a
short article upon the same giving
its principal features, which appeared
in the Tribune April St, 190‘J,
The last legislature enacted a law
which was known ns the Uuarranty
Deposit Law. Inasmuch ns many
people are bank depositors and as the*
legislative reports will not be in prin
for some time, it is well that a brief
synopsis of the law be published.
The law lias legislated out of exist
ence all private banks. There were
only a few of them in the state, but
after July 1st. when the law goes into
effect, there will be none.
After that, date we will only have
State and National banks. National
banks are Incorporated under the na
tional laws, and the guarrauty deposit
law will not apply to them.
It will not fuatcr what name a bank
may have, Whether it. be a County
bank, or a City bank, or a State bank
they will all be state banks, ami sub
ject to the guarrauty deposit law.
The law throws many restrictions
around the management of state*
banks, whieh did not exist before.
It stipulates tin* amount of capital
which shall bo necessary to start a
batik In cities of different classes Fo
instance no bank could be started in
Falls City with a smaller capital than
$35,000.
In all new banks the cpital must be
paid up in full before starting. One
third of it may be invested in a bank
building and furniture, but the bal
ance mint be in cash.
All stock holders are liable* for as
much more as they have stock 111 the
bank. For instance, if a man bad
$1000 stoc k in a bank be would be* li
able for another $1000.
There can not be a less number of
directors for any new bank than three
and each director must own at least
1 per cent of the stock.
There are usually at least five direc
tors in every bank, so the board of
clirectors will Usually own at least
one fifth of tin* bank and hence be
financially and personally Interested
in tho good management of tho panic.
No bank is allowed to lend more
than 20 per cent of its capital and
surplus to anyone firm, corporation o
individual.
No bank is allowed to lend any
money at alt to any of its active off
icers, and no director can borrow any
money from his own bank unless a
majority of tlie board of directors
have consented to the same*, and such
consent must be recorded in the
banks minutes.
Every hank is compelled to keep on
hand or on deposit with other solvent
banks at least 15 per cent of its de
posits, and 6 per cent of its deposits
must be in cash in the vaults of the
bank.
No bank is allowed to lend more
than eight times its capital, no matte
what its deposits may be.
No bank is allowed to borrow more*
than two-thirds its capital stock, ex
cept for tho purpose of paying its
depositors.
To enforce these restrictions, bank
examiners are appointed. They
must be men who have had not less
than three years active experience in
a bank, and must be expert account
ants. They are not permitted to own
any stock in any bank which they
examine.
At least twice each year, and as
many more times as the state bank
ing board may require, every bank
must be examined by one of these ex
pert examiners.
At least twice each year, every
bank must be examined by its board
of directors, who are personally and
financially interested in the good
management of the bank.
Reports of these examinations must
be made to the state banking board.
This gives each bank four examina
lions each year. Two by export ac
countants. and two by directors finan
cially interested in the good manage
ment of the bank.
In addition to these examinations
the state banking board requires ev
ery bank in the state to make four
statements each year, to be published
in some paper of general circulation
in the county in w'liieh the bank is
located, which reports give a detailed
statement of the condition of the ban
It is thought by many financiers
that the observence of these restric
tions will make all banks doing busi
ness under the guarranty deposit law
absolutely safe and render such a
tiling as the failure of a state bank
impossible.
I hit in addition to these restrictions,
which are intended to safeguard the
busness of banking, and to make all
banks absolutely safe beyond any
question, a guarranty fund lias been
established.
All banks are required to pay into
a fund one-fourth of 1 per cent of
their deposits each 6 months until 1
per cent lias been so paid in. After
that has been done all banks are re
quired to pay into such fund one
twentieth of 1 per cent of their de
posits each year. The state banking
board lias the authority to make a
levy of 2 per cent upon the deposits
of the banks in any one year.
This money is to bo left in the
banks paying the same, and can only
be used by the state banking board
for the purpose of paying deposits of
failed banks, and is a preferred claim.
Experience teaches that one-twenti
eth of 1 per cent of all the deposits
in all the banks will pay all the de
posits of the banks that have failed
in any one year. Ttiis is the experi
ence of many years, where banks are
operating under the usual laws of
banking.
In Nebraska, one-forty-seventh of 1
per cent of the deposits in the state
banks would have paid all losses
which have occurred in 8 years.
Hence it is thought, that with a
start of 1 per cent of the deposits
paid in, and a future payment each
year of one-twentieth of 1 per cent
with the added power of a levy of 2
per cent in any one year it will make
the banks safe in tbe worst panic
which could ever occur.
Hut behind this the depositor has a
security the assets of the bank, and
tlie double liability upon the stock
holders and if lie lias tlie property it
can be collected from him.
Should it appear to the state1 Hank
ing board from the examination of th
examiners, or directors, or the re
ports ot' the hunk, that the bank is
conducting its business in an unsafe
or unauthorized manner the state
banking board shall communicate the
same to the attorney general, who
shall make application to the proper
court asking for a receiver to be ap
pointed.
Upon the appointment of a receiver
he shall give notice to all the credit
ors of the bank within 10 days to
come in and have their accounts veri
fied. He will proceed to collect the
notes and assets of the bank, and if
at the end of 60 days he has not col
lected enough to pay all the deposits
of the bank, the state banking board
will pay them from the guarranty de
posit fund, and the receiver will con
tinue to collect the notes and ac
counts of the bank, and as fast as eo'
lected will pay itback into the guar
runty fund,thus replacing what had
been withdrawn from it.
Heavy penalties result from the
violation c ' any of the provisions e.
this law.
V law' somewhat similar to fh:s has
been in operation in Oklahoma for
more than a year. Under its oper
ation only one bank closed its doors
and its deposits were paid within a
few days.
Kansas inis just enacted .a law som
what along the same lines and severa
other states are considering doing
the same tiling".
George \V. Holland
The Cafe’ formerly the Germania,
has been remodeled throughout and
under new management. Give us a
trial. Cal. and Harry, Props.
The >lan Who Buys
From Farmers Respon
sible For High Prices.
By BENJAMIN F. YOAKUM. Railroad Official.
Y'A I HAT tlio secretary of agriculture says in his
recent report to the president is true, as E
[ found bv a somewhat limited investigation
* on my own account. It was made plain as day to
me that Now York, and New York alone, is largely
responsible for its own high living prices, as are all
^ other big cities.
A BUSHEL OF BEANS FOR WHICH THE PRO
DUCER IN FLORIDA RECEIVES $2.25, WITH THE
TRANSPORTATION 50 CENTS FOR THE 800 MILE HAUL, SHOULD
NOT COST THE CONSUMER IN NEW YORK $6.40 A BUSHEL. THE
PRODUCER RECEIVES 35 PER CENT OF WHAT THE CUSTOMER
PAYS, THE TRANSPORTER 8 PER CENT AND THE DEALERS 57
PER CENT. THIS IS NOT A FAIR DIVISION.
The average price of eggs to tlie consumer in New \ork through
out the last year was 30 cents per dozen. The average price paid to
the farmers in the states of Arkansas and Missouri for eggs was 15
cents a dozen. The railroad charge for the 1,300 mile haul was 2
cents a dozen, including breakage, which the government estimates
at 10 per cent. The men who receive the eggs in New \ ork in the
morning and deliver them during the day TAKE 13 CENTS A
DOZEN FRO FIT, EQUAL TO 43 PER CENT.
In his recent report Secretary Wilson points out that in the case
of milk in seventy-eight cities distributed throughout the United
States where the subject was investigated bv the department the
FARMER RECEIVES A SCANT 50 PER CENT, OR ONE-HALF
OF THE PRICE FA I D BY THE CONSUMER. The railroads get
about 7 per cent, so that the remaining 43 per cent of the consumer’s
price is received mostly by the RETAILER. The same division ap
pears in the sale of poultry, cabbage, celery, fruit and a great variety
of other staple food articles.
I-------1
We Are Rapidly Pass
ing Into the Age of
Fraternalism.
By Dr. LYMAN ABBOTT. Editor of the Outlook.
I" ' — "■. — .-1
7TTW E are passing out of the final stages of indi
vidualisin and into a great era of frater
nalism. Year after year, century after
eenlury, humanity has struggled through its de
vious lanes to emerge into this great road to the
plains of frutcrnalism. And here we are and thero
I we arc going.
Let us consider now how this is to come to pass •
—this fraternalism. It is not true that religion
is simply a matter between the individual and his
Clod. It is a social matter. There is a social obli
gation connected with an individual a religion.
Four of the Ten Commandments concern the duties of a man to his
fellow man. One-half of religion deals with man’s duty to his fellow
man. t
Jesus Christ said that the kingdom of God is at hand. Jesus said,
“Thy will be done on earth as it is in heaven.” It is the function of
the Christian religion to create a kingdom of God here on earth. That
is fratcrnalism.
The remedy for that sectarianism that individual ism produces lies
in fratcrnalism.
Co-operation in a common work is the only way toward fraternal
ism. Love is the only power that can urge us forward to the great
goal of llic coming age. Love thv neighbor as thyself. And wo aro
co-operating in a common work. 1 he force of many ages has pushed
us forward to this goal. Everywhere we see the hand of eo-operation
and the subverting of creed, flag, caste and race to fratemalism.
Government is something more than a mere policeman. It is or
it should be a great co-operative enterprise. Xow, some will say that
that means socialism. It is not socialism. I do not believe in the
socialistic theory that would make the government nothing more than
a mutual protective society. The true functions of government aro not
to protect property, to promote the welfare of the individual or for tho
protection of persons.
But government should mean a combination of men and women to
promote the highest felicity. That was Aristotle’s teaching, and wo
are going back for tlie recipe for the future.
Labor is not a commodity. You may purchase a horse, but you
I must treat with labor.
-:
Secure International Peace,
For War Is a Crime.
By Dr. DAVID STARR JORDAN. President of Leland Stanford University.
CIIERE is a great need for an INTERNATIONAL SU
PREME COURT, and this is the end to which all good men
are working.
SOME SAY THAT WAR STRENGTHENS MEN. I SAY
THAT IT DOES NOT DEVELOP THEM ANY MORE THAN BURGLARY
DOES AND THAT IT SIMPLY BRINGS OUT DEEDS OF HEROISM ON
A BACKGROUND OF BLOOD AND COWARDICE.
A WAR IS A CRIME. Seventy per cent of our public taxes are
used for past and future wars, and this on our own initiative. In Eu
rope the war debt is $20,000,000,000, all owed to the unseen vampire
and which the nations will never pay and which taxes poor people
$0,500,000 a year. I say that future war is impossible, because the
nations CANNOT AFFORD IT.
England and Germany cannot possibly go to war, especially be
cause the German emperor will not fight, knowing that a conflict
means the end of his family reign.