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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (July 19, 1913)
1R THE BEK: OMAHA, SATlTiDAY, Jt LY 19, 1913. CURRENCY BILL, CRITICISED Middle West Bankers Objects to Administration Measure. WOULD BE INJURIOUS TO CREDIT Qlass.Wllson mil Bald to Confer JUore Kxtraoritlnarr IOTrt;r Thn Ever Proposed In Anf titK Ulntlre Hoar. After hours ot warm, tamert dlscua lon the convention of mlddlewest bank ers met hero to consider the Qlsss-Wll-on currency bill, wound up Jielr session at the Omaha club Thursday with the passage of a resolution se verely criticising the Wilson administra tion for attempting to pass a bill "con ferring more extraordinary powers than bad ever been propoecd In any legis lative assembly In the world." Chiefly the bankers disagreed over the manner In which the bill should be criticised, all favoring changes Irt It or modifications. It was the gtnerai belief that credit would be curtailed If the bill passed. The bill provides that tho national banks withdraw 10 pe cent of their deposits and deposit th same in federal banks to be created, tho Government to receive tho Interest on the 10 par cent Confirms Intentions Oood. The resolution as adopted follows: "Resolved. That we believe that It Is tho earnest desire ot the present con gress to so revise tho present banking and currency ' system as to remove the many objections that have been mani fest 'under the present system and to so reconstruct the same as to meet the demands of trade and commerce. We balleve that congress, upon whom rests the responsibility for shaping such leg islation, will welcomo honest comment and criticism of the measure. "We suggest that tho business of the country would bo much better serve by a smaller number of federal asso ciations. The reserves would be mora concentrated and more at the command of the business community. re com mend the endeavor of congress to re move the evils of the subtreasury sys tem and to provide a more clsstlb cur rency, but submit that such currency should be Issued by th banks and Its redemption protected by adequate gold reserves, and with such provisions for redemption that the volume of notes in circulation will automatically vary with the needs of commerce. "We further believe that the experience of the world is that it Is better to pro vide for such an organization Indirectly than put the credit of tho government at Issue with every note placed in circu lation. The security for tho redemption of these notes should bo so absolute as to render default Impossible. "Wo doubt tho wisdom of compelling banks to keep any fixed percentage of their reserves with the federal banks, but bellovc Uiat the Interests of train and commerce will ultimately Influence tho deposit of a fair share of tho same with the federal bonks. If, however, In Its wisdom, congress determines that a portion of the bank reserves must be kept with the federal banks, the trans ition should be so gradual aa not to ser iously embarrass tho business Interests of tho country. We feel that the time provided for such transition Is inade quate. , The measure, If enacted Into law, would cause an immediate withdrawal of 10 per cent of our capital and of an amount equal to 10 per cent of our de posits from .business channels to supply capital and resources to the federal re serves banks. JHenaces Business Interests. "In tho matter of the redistribution -In twelve or more federal reserve banks ot practically all of the reserves of national banks and such other banks &a may sub scribe to the capital stock ot the twelve or more federal banks, we believe that the present bill presents a very serious menaoa to the business Interests of the country, not alone In the territory be tween tho Mississippi river and the Rocky mountains, but throughout the United States. This bill in its full opora tlon may compel the country banks to deposit 10 per cont of their deposits in tho federal banks; It compels the na tional banks in reserve cities to deposit 10 per cent ot their deposits in the fed eral bonks; it compels the national banks In the central reserve cities to deposit 30 per cent at their deposits In the fed eral banks; it compels the national banks to contribute more than $109,000,(80 to the capital stock of the new government banks, and a sum greater in the aggre gate than tG00.O0O.O00. which would have to bo given up In cash. "It appears to be the theory of the bill that the national banks will have such facilities for borrowing that this advan tage will be more than offset by tho fa cilities afforded them for rcdlscountlng their customers' notes with the federal banks. Our experience tells us only too clearly that banks doing a commercial business will not borrow money from other banks in order to reloan it, but will only borrow for the purpose ot replenish tng their reserves' or to meet the extra ordinary emergency demands ot com mcrce. We believe that the arbitrary storing of such vast amounts of inoney kt the federal banks will cause such' dras tic curtailment ot the general credits ot the country as to seriously harm the business interests ot this country. -Coun try banks do not carry paper of a char acter subject to discount under the bill and therefore could not avail themselves ot Its provisions. They would be forced to transfer their reserves from the local reserve banks, thereby lessening the power ot the latter to discount their paper. Thus a situation would ' develop Hhat would prove disastrous to both. Why rlan Is ynulty. "We suggest that the plan of organ' Izatlon ot the proposed federal reserve banks Is faulty for the following reasons 'It proposes a system ot banks, tho capital stock of which will probably be above 1100,000,009 and in which the de posits will Aggregate over 400,000,000, that will bo dominated by seven men who will have no financial interest in the In dilution and in which the owners of the capita! stock will have little or no voice in management The return to the own' ers of the capital stock cannot exestd per cent and may result in less, while the government, without any investment or liability, will appropriate all profits above & per cent per annum. The stock solders in the proposed banks will be 6ld for double liability, whllo the gov frpraent will assume no T Isle whatever, a this just? The deposits made in these federal rtnervo banks by the banks of h country do not draw interest, while he power is given to t.6e secretary ot lie treasttryo fix on arbitrary rule of ntercst to be paid by the banks on all governmental depotlts. No hill con ferring such extraordinary powers ha vr httu proposed before in any legis lative assembly In the world. We i-on-tend that th System ot control dsvlsed Is Inherently wrong In this: That the banks furnishing the capital of federal reserve banks are practically denied a voice In their management which will be placed In tho hands of a body ot nim whose relations to the business will bo political and possibly partisan. "Wo believe the business Interests of the country will bo best served by per mitting .bankers who are skilled In their particular line of business to manage the federal banks and that they should have larger representation on the federal board. "Under our present system of bond secured currency the government has been the principal beneficiary of the low rate of Interest at which the bonds have been floated, because of their required Use by national banks as security for their circulating notes. There Is an obligation on the part of the govern ment to protect the banks from Iocs on the bonds so held." Activity Along the Elkhom Valley Looks Like Boom Willis Hudspeth t home from a visit up the Elkhorn valley. month's Crops, He says, arc looking tine all along the river. At Norfolk over a hunarea buildings aro In course of erection, and the Commercial club with nearly 400 members 'Is busy all the time. At Long line an amusement park com pany, composed of a Venice, Cat., capi talist and two citizens of Long Fine, Is making a very picturesque summer re sort which is attracting visitors front many parts of tho stute. Over fifty cot tages are rented and moro are going up. X plunge bath, one ot the largest danc ing pavilions in tho state, deep, shady canyons and a winding creek inhabited by trout are some of the attractions of fered. llossett. the county seat ' of Ttock county, Is Installing a municipally owned water works system and electric light plant, and Newport ten mllos cast, the' largest hay whipping point In tho state, having good prospects for a 1913 crop, l'n doing considerable building. The best land In Rock county has risen during tho last ten years from about tV an acre to around S0. Local Concern to Exhibit Appliance Tho Meyor Safety Guard company has just received an Invitation from the American Museum ot Safety to send one ot Its safety appliances for street car entrances for a permanent exhibit In tho museum. Also the museum has re quested tho local concern to send a full sized working model to be exhibited at the International Exposition of Safety lo be hold at the New Grand Central palace In New Tork City In December. This exposition will bo the first ot Its kind In history. The Omaha concern ex pects to accept the Invitation and ex hibit at the museum. The Meyer appliance has Just recently been porfected. It Is a combination street car door and step which Is de signed to prevent alt boarding and alighting accidents In connection with street car trafflo by an automatic sys tem of opening when the car stops and closing before It starts. Qeorgo T. Dowerman. librarian of the public library of the District of Columbia at Washington, has uIho written ..iin for cuts .whereby the device can bo Illus trated for use In tho library. Frank Tobin, Actor, Shoots Himself Frank Tobln, a "stock" actor, at. tempted suicide last night by shooting hlmsolf In the side with a revolver In his room at the Wellington hotel. He was taken to St. Josrph hospital. His condition Is serious. Tobln was connected with tho Eva Lang company, having, Joined It here last week. lie was not In this week's show. but had a juvenile part in the perform anoo to be staged next week. Ills home s at SS3T Calumet avenue, Chicago, and he left the following note addressed to ma mother; "Goodbye, mother and Agnes. I can't stand It any more. Pray lor roe. WORLD'S BEST CIRCUS COMES HERE IN AUGUST The Barnutn & Bailey Greatest Show on Earth Is announced, for two perform ances in Omaha on Aturust C To It lias boen added the wonderful spectacle ot "Cleopatra." the greatest performance of its kind ever presented in America. It la enacted with a cast ot 1,260 charac ters, a groat chorus, a ballet ot SJQ danc. Ing girls and 700 horses. This circus has stood at tho bead of the amusement business for moro than fifty years. The policy ot P. T. Darnum and James A. Bslley Is still active in Its management This year's program is particularly abundant. Over 100 startling acts are presented by 400 of the leading artists ot the world. The show employs 1.580 people. It has 700 horses. In Its menagerie are 103 cages, pens, tanks and dens In which are displayed 1,100 wild and eeml-domeetlo animals. Among them are forty elephant and thirty camels. There are four giraffes. One ot them Is a baby, the only one In this country. The main performance Is given In three rings, on two stages, on an Immense hippodrome track and In a dome of 400 feet long. There are any number ot thrillers and the program sparkles with the wit and humor of the fifty funniest clowns on earth. S. SAMUEL CUSICK DIES: LONG A RESIDENT OF OMAHA 8. Samuel Custck, 78 years old and for forty-three years a clttsen ot Omaha, passed away last night at his home 1137 North Eighteenth street, following a lln gering illness. . The funeral will be held Saturday morn Ing and the Interment will be in Holy Sepulshre cemetery. Hey. 8, L. Dowd will conduct the services at the Holy Family church. The deceased is survived by his widow and eight children, all of Omaha. They are; Francis A., John II., William J Mrs. Mary Ellis, Samuel J.. Matthew W.. George W. and Leo. Mr. Cuslck was a retired fireman and was well known here. A Sudden Collapse of stomach, liver, kidneys and bowels 'is most surely prevented with Electric Bit ters, the safe regulator. 60a For sal' by Beaton Drug Co Advertisement. PARKHURSfSJODY FOUND Ex-President of Live Stock Exchange Probably Murdered. INSANE LABORER IS ARRESTED Prominent Omnhnn, Vetrrnn of Civil War and Well Known Anion? Masons Meets Violent nrnth. MANDAN. N. D., July 18.-8peclal Tel egram.) Albert SwenslsssKy, Duluth la borer, a maniac, who was taken Into custody hern last Wednesday, Is believed to have been Implicated In the murder ot David S. Parkhurst of Omaha, who disappeared July 7 from tho home ot his daughter, Mrs. John Pollard, here. He became mentally unbalanced as a result of the extreme heat shortly after coming here and believed his daughter did not want htm. Twice he disappeared, once being found on the prairie. Monday morning a body was recovered from tho Missouri river, thirty-five miles south ot Mandan, and was yesterday pos itively Identified by his son-in-law as that or Mr. Parkhurst The coroner's Inquest showed that death "was earned by a gunshot wound and not by drowning. The bullet had penetrated the right lung. Both lungs were free from water. The last time Mr. Parkhurst was seen alive was Tuesday, July , when he spoke with a farmer living north of the city. Wednesday morning Swenslossky was taken Into custody at almost the same place violently insane. When searched no weapons woro found on him, but au thorities attach suspicion to him. He was deported the day following. David a Parkhurst, WIS North Twenty first street, was prcsldont of the South Omaha Live Stock exchange for nine years, resigning that position four years ago. Until recently he was a member of the Farmers" Live Stock Commission company of South Omaha. A month ago ho retired from active occupation- He had become possessed of the hallucination that ho had lost all of his property and that he needed to work. Mrs. Phoobe Herald, a sister, had cored for him up to the time he left for the homo of his daughter at Mandan. Mr. Parkhurst was 71 years old. Ho was a veteran of tho civil war and was prominent in Masonlo circles In this city and ln Nebraska. Ho is survived by two daughters, Mrs. John Pollard and Mrs. Effio Lake, Alnsley. The body will be brought to Omaha for burial. Y . W. 0, A. Camp at the Magee Farm is Attracting Many Members of the Young Women's Chris tian, association are enjoying tho summer camp On the Wayland Mageo farm, near Bennington. Each woek-nd permits nearly twenty members of tmV association to spend a couple of days In the country. The camp Is only open to members and one of thta secretaries acts as hostess for a period of two weeks. Miss Marie Odlorne Is hostess at tho farm Until August 1. The, visitors aro enjoying the life on the farm and have all the fresh milk they want to drink, and on the bill ot faro are eggs, - chicken ad frensh '- vegetables. During tho cooler hours ot the day tennis courts are filled "with interested play era Long tramps through the shsdy groves are taken. Tho camp opened June 1 and will contlnuo through tho month ot August, closing Septombcr 1. The largest number of visitors numbered forty during Uio weelc-end ot July 4, GROCERS AND BUTCHERS VISIT BANK AND BAKERY About seventy-five grocers and butchers gathered Thursday noon at the Commor ctul club and after .luncheon started out on their second educational excursion through the industries ot Omaha. They spent the afternoon going through the City National bank and tho plant of the Iten Biscuit company. One ot tho concerns they will take In on tho weekly trip next Thursday will be the Skinner Macaroni plant Eleventh and Harney streets. JUDGE CRAWFORD CUTS DOWN CLAIM OF Dp. PORTER The claim of Miner R. Porter against tho estate ot the late Anna Wilson for JJ.0C0 for professional services was or dered reduced by Judge Bryce Crawford ot mo county court, ine original claim ot Dr. Porter averaged some 13 per call. Judge Crawford ordered the amount re duced to 13 per call. Friends Surprise Captain Dempsey Someone telephoned to pollco headquar ters that " hest victim had fallen at Thirty-fourth and Seward streets early last night and had been carried to the home of Pollco Captain Dempsey, Demp sey, being on duty at headquarters. jumped Into tho pollco machine with the doctors and grumbled when, he found a couple of reporters, two doctors and flro ordinary policemen there, too. 'It seems to me that It takes a lot o' guys to take cars o one heat victim," he exclaimed. No one said a word, but everyone kept their place In the machine. "When It ar rived at the Dempsey home the captain was the tlrst to enter. As he did so all ot the lights in the bouse were suddenly switched on and the captain found him- self confronted by as many officers as could get away from duty. Deforo Dempsey could recover from his astonishment l'etor Dillon stepped for. ward with a beautiful bouquet of flow, ers, which was presented with the com pliments of the police and newspaper re porters to Mr. and lrs, Dempsey in honor of their thirtieth wedding annl versary. Nearly 100 friends ot the liappy couple were present at ths reception. Movements of Ocean 9 1 ranters. rert. ArrlTtd. UU. KBW YOUK FJnI.nd ' h-ETW YOHK Imptnlsr RAN FRANCISCO OuUIJiU VICTOIUA KAPUCS. iuuli, ANTWKUT iNMbe I20STON LtconU X5UKBBO IWipcrUa - KBW YORK Oci8ta aUABCOW 8r4lnUa IJVKIliXWL, tacoaU QUBBNBTOWN KIIANUIIAt .Arabic. 80UTHAin,T0N,..et. Fsttl .VesUlli. LAB 1' ALMAS Ktrp.ti NAH1.KH. . 8e ai(lrim...,.. CAU-ITTA . ...CirrW ivkr4ocl lliaUaua uuia When I Say: "Half Price" for ANY Suit, an ARMY of Men Should Respond-and BUY Suits HpriceH Any $20 Suit goes now at Any $35 Suit goes now at 17.50 Half Price! My shop is in the City National Bank build ing mt the corner of 16th and Harney St. "Classiest" corner in the city of Omaha. 10.00 Experts having to do with food values describe Ice cream as being among tho most healthful and wholesome of table products. "Dclicla" ice cream is rruulo from tho purest ingredients, In tho most sanitary creamery in the west SOJjD AT AJjIi CONFECTIONERS. AND DRUG STORES OR DELIVERED TO YOUR HOME : : :. : : Order a Quart for Dinner Today The Fairmont Creamery BELL-The Dependable Store During this worm weather It's important that tbe service be quick, eo goods do not perish on the delivery wagons. W have three auto deliveries to nil parts of tho city. Depend on our goods, prices nnd service. BRSJLS Trash every day 3 loaves for 10c OKOCE&XSS Sweet Cora, Sugar, 32 lbs $1.00 Flour, nine Hell. .M An Pride of Omaha.. A I. ill Puritan, sack . . . . s"' Soap. Ueat'Bnv All, Dia mond C, 10 bars... 85o Fruit Jaiu, 45o ; pints Matches, 2 We carry fish,' salt meats. Uall and I'hone BELL GROCERY S12 Worth ICth Stret. Phone Tylsr 1474. ARREST WOMEN I. W. W.'S Nine Jailed for Defying Order of Portland, Ore., Mayor. LED BY SUFFRAGIST WORKER Threatens She Will JUcrMcU vrlth Poisoned Pin Any Cop Molesting; Her Overcotoe Only by Two Officers. pnnTT.Axn. Ore.. July H. Wholesale arrtsts ot Industrial Workers of the Wnrid w..r. mftdf, tonight on B down. town street when a crowd ot nine women, led by Dr, Mary Equl, defied the mayors nrriar hv holding a Street mieuwB. "i. Eul and her followers were loaded into automobiles and taken -to Jan. n.r.t nf mm also were taken 'In,. Some of tho men resisted and i were roughly bandied, X piece of boss pipe, two feet, long, which shs had attempted to- wteld as a weapon, was wrested from Dr. Equl Two other pieces ot gasplps were found on the floor ot the pollco automobile when it ortvedit the police station with the 'feminine prisoners. Charges ot disorderly conduct were placed against all thoto arrested and Chief of Pollco Clark said no boll would bo accepted -for either women or men, until morning. Tho trouble which led to tonight's because any thinking man must know that my suits must be sty lish suits, exceptionally well made up suits; striking garments in every respect, else I wouldn't be able to command an immense trade on the "swellest" corner in Omaha. I am planning to almost empty my stock of suits by the time my fall lines arrive-I could, if I wish ed, reserve garments here and there and get regular prices for 'em again next summer but I never yet have fancied "carried overs." Any $25 Suit Any $30 Suit goes now at goes now at 12.50 Half Off! If any of them go any lower than that they are moro des perate for business than lam "Brooks" Isn't That a Merry Magnet! MB99B9BSMHMX3CX nBBMBMMHniHBnSinHMMHSIHMHIMHEBNSWSHMMNSHBHHBBSBnflHMSEBETX. 0 4 vans. ,3So YtenU Eggs, doz..,17io 2 qts uoz., 40o boxes So a full line of and smoked Fresh Country per lb ....... Butter, ....COo All Creamery s Butter, per lb. S9o Orders Promptly mill AND HEAT CO disturbances originated In a strike ot girl workers nt a fruit cannery Dr. Equl, who Is a suffragist leader, and recently espoused the Industrial Workers' cause, had announced publicly' that she would defy the police by speak ing on the street tonight, declaring she would scratch with a poisoned pin any policeman who should molest btr. She reilstcd arrest and the combined strength of two policemen was required to overpower her. WILL HOLD CITY LIABLE IF FENCE IS' REMfOVED Elisabeth Ifcnrlckson has notified the city commission that she will hold the city liable for damages if a fence on property she owns In Hawes' addition Is removed to moke way for a permanent sidewalk. The city engineering depart mpt has the construction ot a sidewalk on this property. The Ceaselraa KIott. . A ring at the telephone drew ths office boy. "Lady to talk to you, sir," he said to the senior partner. .The senior partner took up the receiver end stood at tho phone for several min ute. Then he laid the receiver down and went back to his desk. Twenty minutes later ho raited the re eelvcr, soil a few words and presently hung up-y Then ho turned to bis partner: - "It was my wife." he explained. "She was still talking and hadn't missed jn- ' -Cleveland Plain Dealer, Yours truly t George Brooks. Any $40 Suit goes now at $ 20.00 Special FOR One Week 5-quart Lottie of i ftn California Port...dliUU 3-star Brandy, per on quart bottle OOb 8-year-old leading brands of Bye or Bour- qq bon, full quart UUu Maryland Bye, CQp full quart wUU Luxus Mercantile Co. Douglas 1889 109-11 North 16th Street. Opposite Postoffice. At The Pure Food Store "Bettor Groceries For Less Money" We are not jugglers. Our joods aro not deceptive In quality. Tho gTOcer who sells unreliable foods Just for the sake of making a few cents more Is not a safe man to trade with. Unreliable things never enter this store. Wo know enough about those things t.o know when they are pure and when thqy are not. we never substitute you get what you nsk for. Besides you always pay less hero than elsewhere. Wo soli flour at prices lower than any other store in the city. For Saturday and Monday we will sell all leading brands of guaranted wheat all leading brands of guaranteed old Wheat flour at, per 48.1b. sack. .. .91.00 Blue Bell, Sunklst i.. 91.00 Phone your orders for groceries and we will guarantee you prompt service and satisfactory and personal attention to your oruers. Ail I'nones Douglas 6383. L. RosenbEum SCO Worth 16th Btrest. All JPhones Bouglas 6383. DREXEL QUALITY MEANS DOUBLE SERVICE HT Km Eh Lb HOD HOES For Boys Built on honor, .these famous boys' shoes will outwear two pairs of ordinary boys' shoes. Boys'. 1 to 5, $2.50. Little Gents', 10 to 13, $5.00 1419 Farnam Street Office For Rent Tho large room on ground floor of Bee Building, oc cupied by the Havens White Goal Co. Nice Farnam street front age. About 1,500 square feet of floor space with largo vault. Extra en trance from court of the building. Pine office fixtures are of fered for sale. Apply to N. P. Peil. Bee office. The Only Store in Omaha Where You Can Buy THE GENUINE PIANOLA-PIANOS. It will pay you to investigate before purchasing. Call or write for Catalogues. Free Demonstrations. Schmoller & Mueller Piano Co. 1313 Farnam JSfc, D. 1623. Omaha, Neb. AMUSHSIBNTS. Cool breozes blow at LAKE MANAWA ManyWgrce3 cooler than a tho city, BATHING OAV AT ITS HEST NEW HATH HOUSE, FINK BEAC1I BOATING, DANCING, ETC, ETC. nceiis BY . Francesco Creatore's Famous "Banda Verdi" Tho Greatest Organized Hand pf lb) Kind In the World. EVEKY AFTERNOON AND j EVENING I at 2:30, 4.30, 8:15 nnd 10 P. M. Admission to Farlc FREE. BRANDEIS THEATRE COOXSI) BT IOCS TOWIOHT ATX, WSEt Jgatlnesa Wedatsday and Batorday, 1 EVA LANG THS JGASirST WAY." l Prlcss asc and SOc WEEK "1KB WOISASV BASE BALL OMAHA VS. DES MOINES Julr 18-10-20. ROURKK PARK Friday, July 18, Ladles' Day. ' Cars Ieave 15th and Farnam at 2 AC Games Called at 3 P. M. ROME SUMMER GARDEN Entertainers & Photo Plays Dine Out Doors ORCHESTRA EVERY EVENING Auniissiou 10c BREXEL Free Go