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TAVI'AUV 17
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Tin: m:ki omaha, Wednesday, .January is, i.hi.
ALDRICH PLAN FOR BANK LAW
Scheme of Senator Does Not Contem
plate Central Bank.
CBEATES A RESERVE ASSOCIATION
All atlanal Banks la Dm tack la
DlaronntlnK Instltnllon It Alan
rmiHri for National arln
a ad Trill tomnaales.
WASHINGTON, Jn. tl. -Senator Nelson
W. Aldrlrh's Ions nailed "phm for the
revision uf the national banking legNTa
Hon." aa ha call It. wan made public to
day. It does not contemplate the establish
ment of a central Lank. s. is so far from
what most people have expected Mr. Al-
fJrlch to propose that to those who have j
not been 111 Ills confidence it may come aa
a surprise.
The plan mi submitted today to the na
tional monetarv commission at a meeting
i ailed for the purpose, but rienetor Aldrtch
was not present. Ilia communication was
presented by the vice chairman. Repre
sentative Vreeland of New York.
far from recommending the institution cf
a central bank, Mr. Aldrich expressly de
claims belief In It aa calculated to meet
the needs of the situation. What Mr. Al
drich does propose Is the establishment uf a
'reserve association of America," repre
senting what might bs called a federation
of local associations formed by national
hanks. He says In his letter to the com
mission that he believes thia association
would not be subject to the domination or
Influence of any political or financial
group.
iso well known' la the scheme that It la
difficult to stale briefly the provisions of
the plan, but these seem to be the essen
tials. Local Orgnnlsa Mens.
At the bottom are local organizations of
representatives of banks formed by not
leva than ten banks each, each bank hold
ing stock in the association In proportion
la Its capital.
1 H rectors elected by these to the board of
" branch" asxoclatlons, one branch for each
of fifteen financial districts Into which
the I'nlted States would be divided. Each
"branch" board would Include a certain
proportion of men not bankers, but repre
senting Industiial, agricultural, commercial
and oilier Interests.
The "branchetr" in turn would elect to
the reserve association proper directors,
lorty-flve In all, among whom also must
be a proportion of men representing Inter--ests
other than banks. There would be
six ex-offlclo members of this board,
namely, the secretary of the treasury, the , situated.
authorised capital of the Reserve Associ
ation of America shall be approximately
Doo.inft.ono. The length of its charter shall
be fifty yars. The head office of the as
sociation shall be In Washington, I. C.
The country ahall be divided Into fifteen
districts and a branch of the Reserve as
soclatlon shall be located In each district.
The reserve association and Its branches
shall be exempt from state and local taxa
tion, except In respect to taxes upon real
estate owned by It.
Only national banks of the classes here
inafter provided for may suhacribe to the
capital stock of the reserve association. A
national bank having a minimum capital
of at least V0"A may subscribe to an
smount of capital stock of the reserve a
snclation equal to 26 per cent of the stock
of the subscribing national bank, and not
less, and each of such subscribing banks
shall become a member of a local associ
ation as hereinafter provided for. Fifty
per cent of the subscriptions to the capi
tal stock of the reserve association ahall
be called In cash; the balance of the sub
scription will remain a liability of the
stockholders subject to cell-
The earnings of the association shall be
distributed In the following manner:
"After paying all expenses and taxes
the stockholders shall receive 4 per cent,
further earnings shall be divided, one
half to go to the surplus of the reserve as
sociation until that surplus shall amount
to 20 per cent of the paid In capital; one
fourth to go to the government of the
I'nlted States and one-fourth to the stock
holders; but when the stockholders' divi
dends shall reach S per cent they shall
receive no additional dividend distribution.
After the stockholders receive 5 per cent
the earnings shall be divided, one-half to
be added to the surplus of the reserve
association and one-half to go to the gov
ernment. After the stockholders receive
& per cent annum and the surplus of the
reserve association amounts to 20 per cent
of the paid In capital, all excess earnings
shall go to the government. The minimum
dividends to the stockholder shall be
cumulative.
District Associations.
"All subscribing banks shall be formed
into associations of national banks to be
designated as local associations. Every
local association shall he composed of not
less than ten banks, and the combined
capital and surplus of the members of each
local association shall aggregate not less
than 0.00O.0OD.
"All the local associations shall be
grouped Into fifteen divisions to be called
districts. The territory Incldued In the
local associations shall so be apportioned
that every national bank ' will be located
within the boundaries of some local asso- 1
elation. Every subscribing national bank
shall become a member of the local asso
ciation of the territory In which it la
securities which shall be held by the local
associHtlon for account of the reserve as.
sotiathm; but la no such case shall the
amount loaned by the reserve association
exceed two-thirds of the actual value of
the securities so pledged. The rate of dis
count of the reserve association which
shall be' uniform throughout the United
States shall be fixed from time to time
by the executive committee and duly pub
lished. The reserve association may, when
ever Ita own condition and the general fi
nancial conditions warrant such Invest
ment, purchase to a limited amount from
a depositing bank acceptances of banks or
houses of unquestioned financial responsi
bility, such acceptances must arise from
commercial transactions and have a ma
turity not exceeding ninety days, and must
be of a character generally known In the
market as prime bills.
"The reserve association shall make a re
port showing the principal Items of. Its
balance sheet to the comptroller of the
currency once a week. These reports shall
be made public In addition full reports
shall be made to the comptroller of the
currency coincident with the five reports
called for each year from the national
banks. All reports of all national bank
examiners In regard to the condition of
national banks shall hereafter be made In
duplicate, and one copy shall be filed with
the reserve asoct:ition for the confidential
use of lis executive officers. National
banks of all classes shall hereafter make
a weekly retort to the comptroller of the
SPECIAL FEATURES OF SHOW
Director Buckley Hat Added Many
New Attractions.
ELKS ARE TO COME IN FORCE
Invitations Have Beea eal Oat to
Leases la elaaborin Tosvaa
aad Many Responses Are
Ks pectel.
T W. Buckley, concession manager of the
Land show, who Is one of the busiest men
at the Auditorium, Is finding time to add a
new feature every few minutes to the mam
moth agricultural exhibit. Tuesday he an
nounced a list of new attractions which will
swell the attendance by the thousands.
Pretty typewriters, brother Elks, ad.
writers, good roads experts, hog buyers and
society women and a score of other combi
nations and individuals have all promised
to storm the Auditorium on the nights set
aside for hem.
One of the most attractive of the special
nights will be that arranged for the Elks.
Mr. Buckley has designated Thursday, Jan
uary U. aa their day. and it Is expected that
visiting brothers will be here from at least
a dosen Nebraska points, some of them
coming on special trains. Invitations were
sent out to the lodges at Council Bluffs,
Columbus, Fremont. Nebraska City, Lin
coln and other points, and It Is assured that
currency lowing the principal Items of ; w, be one of the mo,t unlqu, gJlth
secretary of commerce and labor, the
comptroller of the currency and the. gover
nor and two deputy governora of the as
sociation. The governor and deputy governors of
the association would be appointed by the
president of the I'nlted States and be re
movable by him for cause.
Kleral Agent of Governor.
The association would be the principal
fiscal agent and depository of the govern
ment, would fix from time to time the rate
of exchange or discount, and eventually
Its notes would replace those of the na
tional banks. Prime commercial paper,
passing up from the banks through the
local associations and branches, as well aa
bonds of the government, could be used
as a basis of currency Issue.
The plan also contemplates two new
classes of national banks or departments
of banks, to receive savings and niako
loana upon real estate, and also to be In
effect national trust companies.
National banks would , be permitted 14
form branches only In their own Immediate
communities, and they also could be organ
ised for business In foreign countries.
The system of mutual support which the
association's members would meet currency
i mergencles is detailed at length.
In a letter to Mr. Vreeland, dated yes
terday and read at today's meeting. Hens
tor Aldrich expresses disappointment thnt
his Illness had compelled him to forego
his expectation of conferring with the
members of the commli-slon. He tenders
"As heretofore provided, all the local
associations shall be grouped Into fifteen
divisions and each of these divisions shall
be designated as a district. There shall be
located In each district a branch of the
reserve association. Each of the fifteen
branches of the reserve association shall
have a board of directors.
Hoard of Association.
The board of the reserve asso
ciation shall consist of forty-five directors
and it shall be composed In the following
manner:
"Klrst-SIx ex-officio members, namely,
tlr governor of the reserve association,
who shall be chairman of the board: deputy
governors of the reaerve association, the
secretary of the treasury, the Secretary of
Commerce and Labor and the comptroller
of the currency.
"Second-Kltteen directors to bs elected,
one by the bosrd of directors of each
branch of the reserve association. They
shall be elected by ballot, each member vt
the branch board having one vote.
"Third Twelve directors, who shall be
elected by voting representatives, one rep
resenting the banks embraced In eaeh dis
trict. Each voting representative shall cast
number or votes equal to the number of
shares In the reeerve association held by
all the banks in the district which net rep
resents. "Fourth The board thus constituted ahall
select twelve additional members, who
snail rainy represent the Industrial, com
mercial, agricultural and other Interests
of the country and who shall not be of
ficers of the banks. Directors of banks
shall not be considered as officers.
Uieeatlve Officers,
"The executive officers of the reserve as
sociation shall consist of a governor, two
deputy governors, a secretary and such sub-
thelr balance sheets, such reports to be
available Jor the use of the officers of tin
reserve association.
"There Is hereafter to be no further lsu-.
beyond the amount now outstanding oi
hank notes by national bunks. National
banks may, if they chooac, maintain their
prueent note Issue, but whenever a bank
retires the whole or any part of Its exist
ing isxue It will permanently surrender Its
light to reissue the notes so retired.
Tax on ote Issues.
"In addition to the authority to issue notes
to replace any national bank notes out
standing at the time of the organisation of
the reserve association It shall have the
right to Issue additional circulation notes
as follows:
The whole or any part of the first IIWi,
OuA.uU) of such additional notes shall pay
to the government an annual tax of I per
cent; above $100,000,000 and not more than
$300,000,000 may be Issued at an annual tax
of 4 per cent; above $2iX.ono,000 and not
more than $300,000,000 may be Issued at an
annual tax of 5 per cent; all above $300,ouo,
000 shall pay an annual tax of 6 per cent.
All note issue of the reserve association
must be covered to the extent of at least
one-third by gold or other lawful money
and the remaining portion by bonds of the
Cnited States or bankable commercial
paper as herein defined, or both.' "
The monetary commission received Mr.
Aldrleh's suggestion without comment aa to
Its merits. The document was presented by
the vice chairman. Representative Vree-
Good Roads Day at
Land Show Changed;
Prof. Holden to Speak
Com Expert to Giye His View
Ad Club Men Tnrn Out
in Force.
Announcement has been made that the
good roads demonstration, which was to
have been exploited on January 19, will not
be given until the evening of January It.
The change was made necessary because
Prof. Mullen of Minneapolis was unable to
be here on the former date. Frof. Mullen
is one of the blggtst good roads men In
the country and he will attract many vis
itors. ,
Another distinguished guest will be Mau
rice Connelly of Dubuque, who sent w-ord
today that he would be here as the prin
cipal speaker on Iowa day. Monday, Janu
ary 23. Mr. Connelly Is one of the bright
est orators in the stste of Iowa and he
will have some Interesting things to say
In true Connelly style. On the same day
Prof. P. U. Holden of corn gospel fame
will be present to deliver an address and
do what he can to make the show a huge
success agriculturally. Also on that day
there will be other speakers of note.
On Saturday evening. January 21, the
Omaha real estate men will occupy the
limeltiiht. Thev have not completed their
erlngs of Elks ever held In Omaha. The proBrwIli but they pr0mlae to make things
local Elks are grranging to meet the visit
ors at the 'trains and escort them to the
club rooms, where they will be formed Into
a legion to storm the Auditorium Just be
fore the gates are opened. Together wltn
the local members It Is expected that there
will be at least 1.000 Elks In line.
Aldrtch to Talk.
Governor Chester 11. Aldrich Is to have a
special night, and he will have the honor
jf opening the show, for he Is to be here
n the Initial night. In the meantime the
eceptlon committee of the Commercial
club Is making arrangements to give the
governor the proper sort of welcome.
Uould Diets of the Land Show reception
committee Is In Lincoln today arranging
details for the coming of the governor.
Cpon his arrival here he will be met In
approved fashion and escorted to the club
rooms. Then will follow a reception, at
which the distinguished visitor will go
through a program of hand shaking.
Just before the hour for the opening of
the big show the members of the Com
mercial club, following the governor, who
will ride In an automobile, will proceed to
the Auditorium. The details of the gover
nor's visit to the show have not yet been
worked out, but It Is likely that the pro
gram will consist principally of a speech.
The committee in charge has fully deter
mined that there will not be any dull mo
ments aa long as the governor Is In the
eitv. '
Mr. Buckley also made the announce
ment that there would be a special night
land, and soon afterward the commission I for the Boyles Commercial college Mon
adjourned to meet at the call of the chair- 'day, January 23. The students will attend
man. 1 in a body with flying pennants and plenty
of college noise. This will be a feature
well worth while. Students of the college
have arranged to put on a program, begin
ning tt 9 o'clock on Monday evening. The
expert stenographers and typewriters of
the institution have arranged to ifclve an
exhibition of their talent and speed on the
Auditorium stage at that hour.
Interesting for the visitors to the show
They have Invited the Council Bluffs and
South Omaha realty men to Join them, and
there Is sufficient assurance of a lively
time. v.
Commission men's night has been
changed from Saturday to Monday.
The Omaha Ad club will centralise Its
forces on Monday, January 23. They have
promised to bring out at least 200 members,
among whom will be a number of good
speskers.
COAL SELLS AT SHORT WEIGHT
Charges Are Made by Inspector of
Weights and Measures.
WAGONS ARE BUSHELS SHORT
Some of the lr Scales Are Also Or.
dered Repaired Other Wnra
Ings Are ent ml "
I Healers.
Charges have been filed spalnst the Par
tridge, 8helley Thomson Coal company,
whose general offices are at 11 Harney
street, by John Grsnt Pec. Inspector of
weights and measures. The charges allege
that the wagons of the company are under
weight and are the result of a crusade
which the Intpector has been waging for
the last three rtayv
Inspector Pegg caught two of the com
pany's wagons short. One lacked lsK pounds
of the weight certified and the other was
short 150 pounds.
Inspector Fegg's activity developed the
fact that many coal wagons In the city
are short weight. But In the main, the
wagons have only been from fifty to sixty
pounds under, which is not considered a
flagrant violation. However, the shortage
of tha rartrldge, Shelley Thomson com
pany's wagons was so pronounced that
charges resulted.
Warnings have been sent to various com
panies whose wagons were short. Should
they persist In turning out short weights
they will be asked to explain.
Orders have been Issued by the Inspec
tor for the repairing of the city scales at
Sixteenth and Ixard streets and Fourteenth
and Cass. McCaffrey Bios.' bchIcs at Elev
enth and Paul aim the Brandels scales at
Fifteenth and Marcy.
MAN MAY DIE OF INJURIES
RECEIVED IN BAD FALL
Drop from l.aaocr n ''"
at Ice lloase llart la
trrnallv.
Henry Adam. lu02 Orace street, who fell
twenty-two feet from a ladder at Peter
son's Ice house. Is now In a serious condi
tion. This morning Adam suffered internal
bleeding, pointing to eevere Injury.
Adam was removed from hla home to
St. Joseph's hospital, where he was treated
by Dr. Conlon.
A Guarantee of Business Prosperity
The Persistent and Wise Patronage of
The Bee Advertising Columns.
JURY PANEL IS DISCHARGED
judge Hedlek Makes (iood on
Threat Because Cases Are
Not Krnrty.
HI
imriKMMTt,
The Mom of Tolly, Two rrollcs Daily
Four Days, Commencing Sunday
Matinee, January IS
THE JOLLY GIRLS
A Dellrlows Dream of Delicious De
light, Presenting the aUp
Soaring Comedies
The Flying Man From Heiico
and an Iri h Pasha
WITH A If StL-STAll CAST AND
5 DAIITTT S1MFX.B OAKLINGS 83
1ITBA Tuesday Might Chorus
Girls' Contest. isa In Quid Given
Away. Com aad see what the girls
can do.
Thursday, Jan. 1 ror 3 daya, the
Comedy Drama, "The Olrl From The
Sunny South."
Bnnday, Jan. St Tor 4 days, the big
burlasqae production, "Mew Century
Olrls."
AMERICAN THEATER
A LI. TMI8 WXtX
Mr. and llrs. BOB
Fit zs i m m ons
rOBMBR DUCAT CKAKTXOM
A art Mts Wife
or (xmawp oriitA tamu
6-OTHER BIO ACTS 6
Mat. Daily, 2:15 p. m., 10c
2 EVENING SHOWS- 2
loo, aoe, 30c, at 7:S and 8:90 P. M.
True to his promise that he would dis
charge the Jtiry until the February term
of court If no attorneys got ready to try
their cases by Tuesday, Judge WJlllarrt A.
Uedlik discharged the panel In district
court Tueadak afternoon and there will be
no more trials of law cases until February
I. When the cases wer- called Tuesday
morning some attorneys said they thought
they would be ready to go te trial by Tues
day afternoon and some hy Monday, but
none were ready .to go to trial Immediately.
Moat Food Is I'olaoa
to the dyspeptic. Electric Bitters cure tfys
pepbia. liver and kidney complaints and
debility. Price 50c. Sold by Ueaton Drug
Co.
DELEGATION GOES TO
HEAR HITCHCOCK TALK
Postpones the tail tine Day
They May Nee the Joint
Session.
that
h i plan aa "tentative" ami as the subject ordinate officers as may be provided by the
bylaws. The governor and deputy govern
ors shall be selected from a list submitted
by Jhe board of directors. Ths governor
shall be subject to removal by the president
of the I'nlted States for cause. The term
personal one and I fully believe will an oI office of the deputies shall bo aeven
for . discussion and criticism.
"1. of course, do not expect." he says,
"the Immediate approval cf the commis
sion or that any formal action will be
taken upon It. The plan luggested Is a
The delegation of city and county offi
cials, which had expected to go to Lincoln
Tuesday morning to boost for Senator
elect Gilbert M. Hitchcock when his name
came up for confirmation, postponed the
trip until Wedneaday morning, when a
party of ten. headed by Mayor Dahlman.
will leave for the state cspital.
The trip was' delayed that the delegation
might be present when Mr. Hitchcock
makes his firat address. - Many were un
able to leave the city for more than one
day and had they gone, they would have
missed the address. For this reason It was
decided to go Wednesday morning.
In the party will be Mayor Dahlman,
City Attorney nine. Joseph P. Butler,
assistant gas Inspector; Uan Butler, city
clerk; Thomas Klynn, street commissioner;
Barney McArille. keeper of the county
store; Ulchard Schneider, license inspector;
Claude Uosse, dairy Inspector, and Coun
cilman Lee Bridges.
Mr. Hitchcock's name will come up for
loint ballot Wednesday morning and he
will make his address about noun.
ewer the requirements of the changed con
ditions. It will certainly furnish to the
commercial organlxatlona of the country
who are now considering this snblect a
basis for criticism and discussion."
Mr. Aldrich prefaces his plan with an In
troduction, In course of which he says it
has been his aim "to suggest changes in
the. national banking act which will rank
It responsive to the demands of modern
business." The study which the commis
sion has given to this has, 1 believe, led
, irresistibly to the conclusion that our
present banking system. which was
adopted nearly hnlf a century ago, and
has remained practically unchanged not
only falls completely under st resit and In
the presence of unusual demands upon Us
resources, but has been found Inadequate
and unresponsive, even under the ordinary
conditions of huslnrss.
"In the light of our experience It Is
Obvious that one of the principal needs Is
Wo find some metnod for the unification of
our present banking Institutions Into one i ,he classes herein defined who shall sub-
comprehensive system. In other countries i ecribe to Its proportion of the stock of
xve have found that reserves are concen- I th reserve association and shall otherwise
trated and used freely In any direction ! conform to the requirements of this act.
years, but the two deputies shall be seven
shall be for terms of four yeara and seven
years respectively.
"Kach branch shall have a manager and
a deputy manager. They shall be appointed
by the governor of the reserve association,
with the approval of the executive commit
tee. The powers and duties of the manager
and deputy and various committees of the
branches shall be prescribed by the bylaws
of the rseerve association
"Any member of a local association may
apply to that local association for a guar
anty of the commercial paper which it de
sires to rediscount at the branch of the
reaerve association In Its district. Aay such
bank receiving a guaranty from a local
association shall pay a commission to the
local association, to be fixed from time to
time by the board of directors of that
local association. - N
"All of the privileges and advantages of
ths reserve association shall bs equitably
rxtenaea to avery national bank of any of
Fjr Laurlsp Cnsa and Staff? Colds
fake Foley's Honey end Tar. It gives
quick relief and expels the cold from your
system. It contains no opiates, Is safe
nnd aura. Bold by all druggists.
TOPS SOUTH OMAHA MARKET
Yoana staatoa tuanly Farmer (iets
High I'rlee for Load of Well
Bred Steer.
W. Barr. a young farmer from Htantoii
county, topped the Foutli Omaha' market
Tuesday morning with a carload of steers
that brought him t6..tS. That Is also the
best price this season. The. steers were
corn-fed. well bred Herefords and aver
aged 1,271 pounds. The sale was made by
Wood Bros.
A Guarantee of Business Prosperity
The Bee Advertising Columns.
BIRTHH AM) DEATH.
Births Guy mid Atta Kice. ;L4 Haven
port street, uo ; John and Ruse llilgendorf,
21J6 North Twenty-eighth street, boy;,
Augustine and Anna Kldesco, 1018 South
Twenty-first street, boy.
Iieaths Karl Iiniuel, i:i years, Twenty
second and Howard streets; Mae Flanagan.
M years. 2K18 Ames avenue; Manila K.
Steele. 67 years. 4302 North Tlilrt v-xlxth
treet; K. H. Burra. 38 years, 3110 Huuth
Twenty-first street; Mrs. Anna Rlvolre, 91
veara, 2410 North Twenty-second street;
George Weber, 3 years. Benson, Neb. ;
'harles Karsllcr, 52 years, St. Joseph's
hospital.
n
.1
1 1
x -
THIS ArTEKNOOW TO 11 1 OUT
STAXM AMD HAVLIM'S
BIO MUSXCAX, HOTBLIT
SCHOOL DAYN
ME MM AM TIKIIBO and SS BOYS
and OIBLS.
A f.1.60 Show at lfto to TSo. Tew at Bfo
Meat Sunday Matinee
MBS. WIOOS of the Cabbage Match
Jn. 94, CincmiiatTSympriony Orchestra
BOYD'S THEATER
Tonight Mats. Tuea., Thurs., Sat.
BTA LillO AMD COMTAMT ZM
A. J A MrRICAIM WIDOW
"Mexi Week Ceo. M. Cohen's Comedy
45 XUMUTXS riOM MMOAPWAT
D0UG.494
Advanced Vaudeville. Matinee Bvery
Say, t:18t Every Mtgbt, BUB. Mile.
Blanol rroeltohl Tonr Huntings; Hal
Stephens k Co.; Flying Martins; Qnlnn
and Mitchell! Miss Mamld Alexander!
Glean Mlllsonj Minodroms! Orpneum
Concert Orchestra.
OMAHA'S TV CBMT1IM."
Ergs., lb-aB-BO-750
m.WXndLiM Daily Mat, IB-SB-BOo
MMXXh SMEMIDAWS MARATHON GIRLS
Merry Musloal Hodge-rodge,
"CMABT ylMAMCM,"
30 or '80 Singing D"nol.ftlrlS.T
Ladles' Dime Matinee Brery Week Pay
BOB FITZSIMMONH ANP HIS WIKKMAN AN INTKR9TATB. Pt'RCHAEI OP
, Til K INTKRSTATK ACTO COMPANY OK OMAHA YESTERDAY. MANAOMt
STERNBERG WILL, DELIVER Titio CAR tu u ismmuns
MOIUIEIT'S.
Removal Notloe
MOMMEIT'S HAIM O00D8
AMD MAIM DMESBXMw SS
TABX.XSHMEHT HAS MB
MOVED TMOM 14U AM
MAM STMEET TO 403 SOUTH
XXTBSMTH BTBBBT
(OMOTJMD M.OOM CtT MA
TXOMAX. BAMX BX.DO.) TOM
APPOIMTMEMTS 'F H O M B
DOVQX.AS 2333 OM A-B333.
GRAY "hair FREEBOOK
Writs For This it if.t ' "-
W. will ndyou in tllutr.ttd bonk on the ot th
Halrr. It Ml Is you how vou s lv rtt your
H. P. COMB CO, ! 80 HI 1. : St.. M 1st
where needed. Vnder our faulty system
reserves are so scattered aa to be un
available In the time of trouble, either for
puriKiaes of ussisiance or defense.
Uuald Create Ulwssnl Market.
"If we can so armnd tn present national
banking act as to permit the formation of
Ths government of the United Statea and
those national banks owning stock In the
reserve association shall be the sole de
positors in tue reserve association. All
domestic transactions of the reserve asso
ciation shall be confined to the govern
ment and the subscribing banks, with tha
. association of all the banks of the th Prclia or .ale of gov.rn-
cou.try to meet theee needs, we shall hv. ' ma or ,, ' '"reign countries
gone . long w.y tow.rd solving the prob- , or of lso,J cuin or bull,"
km which is betore us. If. 'then. !n ad- Depositary for tioverniarat.
dltlon. we provide a more scientific bails "The government of the United ftatea
for bank note circulation, so that trie I shall deposit Its cash balance with the re
volume of circulation will he i esponaive to rvo asaoclallou and thereafter all -
the needs ot business we shall. I believe, jcelpts of the government ahall be deposited
have met the two main reu,ulrinenta of ult" the "etrvn association or (when nec
suliafactory solution. In addition. If wo 1 eaaary) with, such national banks as the
can aid In creating a discount murkct in ! government may designate for that pur
this country similar to the discount mar-; Pe in cltiea where there Is no branch
kete In Kuroi. so lhat the moat liquid j ' ln rarv association. Ail disburse
portion of our bunk funds will nut of nec... nieuts by the government shall be made
altv be forevd to ucli a lur-e detird- us ! through the reserve association.
v ..resent Into the making of call loans upon ' "Th rrv association shall pay no In
etocK exchange collateral, but will in
stead be available for the needs of com
mercial business, we shall hate so hioaj-
envd our banking mtiiimn as 'o uiniw
! i ret on oVooalta.
"The reaarva association may red la. ount
notes and bills of exchange arl&lug out of
commercial transactions. lor and with the
Incalculable benefit to the commercial i umui.i.ciu ...j ..v.o oepoait
of the eountry. ! lln " sutn nol nd bl" "'" "e a
l believe that the evolutions which ! maturity of not wo.e than tweuty-elght
present herewith ine.-t tho... condll on. I ' ,nd InU8t bt,n mmi l
and that the orgariiati.m which it Is pro-!"1'' oay' prU,r lo the date of rediscount,
posed to create will Pisure the benefits Protection Snake.
which we seek without running any risk i "Whenever, In the opinion of thet governor
of creating a financial iistiiution which of the reserve association the public ln-
isii b. ronirolli-d bv amr. i ons m.mrtarv 'uresis so require, such opiniou to be con
interests or dumlualed by political Intiu-U-urrvd in by the executive committee of
I the reaerve association aud to have the
OMAHA LAND
Opens Today Jan.
HOW
18th
At the AUDITORIUM
di finite approval of ths secretary of the
VIIClS.
1 .kiii'Im t III u k t Aani'1-la.a.
Ti e wnator proceeds men to the deicrip- ' treasury, the reaerve association may dls,
t on of In proposed "U. aerie Associativa count the direct obligation of a depositing
f Amert.-a:" It is proposed to charter ! bar.. Indorsed by its lo.al association pro-
.. m-ariie Association cf Ainet'Ua, whicu
will be the principal financial event of the
ggve:Umot uf the I mteU .tate. The
ldcd that the Indorsement of the local as
o Union shall be fully secured by the
pledge aud deposit wiih It of aallafaotory
WEDNESDAY:
OMAHA, COUNCIL BLUFFS AND SOUTH OMAHA
The Special Program:
At the opening ceremonies, during which will occur the unfurling of the largest American flag in the state, the firing of forty-eight 12-pound
shells, the burning of red, white and blue fires, and the blowing of whistles in every corner of the city.
Addresses by Hon. Chester H. Aldrich, Governor of Nebraska; Hon. J. 0. Dahlman, Mayor Omaha; Hon. Thomas Maloney, Mayor of Council
Bluffs; Hon. P. J. Trainor, Mayor of South Omaha; Mr. C. C. Rosewater, General Manager of The Bee Publishing Co.; Hon. Robert Newton Lyncn,
Secretary of the California Development Board, and others. j
POORS OPEN TO THE PUBLIC AT 1:30 P. M. OFFICIAL CEREMONIES COMMENCE AT 8:00 P. M.
1-1
Daily Amusement Features at the Land Show
TWO MOVING PICTURE SHOWS-Running all the time.
THE SWEET SINGERS FROM HAWAII Every Afternoon
and Evening.
MISS LORA NETTIE RIETOR-The World's Greatest Cornet
Virtuoso Every Afternoon and Evening. '
; A HUNDRED INTERESTING FEATURES TO ATTRACT YOU.
CONCERTS BY THE LAND SHOW CONCERT BAND George
George Green, Director At 2 to 3 p. m., 4 to 5:JU p. m., i u
8:30 p. m., 9:30 to 11 p. m. daily
A BEAUTIFUL IRRIGATION PANORAMA Showing Irriga
tion and Power Producing Methods.
21c
ADMISSION takes you to every exhibit, moving
Picture Show, lecture and travel talk.
2 Km
ac
I
y