Image provided by: University of Nebraska-Lincoln Libraries, Lincoln, NE
About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Sept. 30, 1917)
4 F THE OMAHA SUNDAY BEE: SEPTEMBER 30, 191. FEDERAL RESERVE . Two Groups of Ak-Sar-Ben's Most Serviceable Subjects BANK HERE IS BUSY Two Hundred and Twenty. Eight Banks of Nebraska and Wyoming Do Their Busi ness With It. -s Omaha has but recently acquired branch bank of the Kansas City Fed eral Reserve bank. The Omaha branch is located in the Farnam build- i-.g, formerly the old First National bank building-, at Thirteenth and Far nam streets. 0. T. Eastman is man ager and E. D. McAllister is ctshitr. There are five directors, Luther Drake, Omaha; 0. T. Eastman, Omaha; Dr. P. L. Hall, Lincoln; J. C McNish, Omaha, and R. O. Mar- nell. Nebraska Citv. The capital of the reserve bank is based on 3 per cent of the total capi tal and surplus of the member banks. Thus the capital necessarily fluctu ates somewhat with the fluctuations of the capital and surplus of the member banks. At the present time the capi tal of the Omaha branch of the fed eral Reserve bank is. $783,550. ' Affiliated with Many Banks. The Omaha branch takes in the territory of Nebraska and Wyoming. There are 192 national banks in Ne braska and thirty-six in Wyoming, making a total of 228 national banks doing business with the reserve bank in Omaha. Besides these, there is one state bank in Nebraska which has elected to come under the federal re serve system. This is the Bank of Lewellyn. This bank had come under the federal reserve system more than a year-ago, though it is not required that state banks do so. It has been their privilege from the start, how ever, and recently by an amendment to the federal reserve act if has been made more easy and desirable for them to but themselves under this system. Big Reserve Here. 3 These Nebraska bonks carry ap- nroximatelv $14,000,000 of their re 'V?Zf lf' r' 'trim- -wJiy jg-uemm.J- - sxr grr" vw .!' t)elegiftion of Greeters Serving as Reception Committee for Out-of-Town Guests. Peculiarities of Deep Sea Waves Explained The first great thing to notice about a wave (a deep-sea wave, not a short breaker) is that, though the wave travels steadily forward, any given particle of the material in which it is traveling merely executes a to-and-fro motion of a vibration, but not the forward motion of matter. It is. in fact, the motion of a motion. There wave running along it to the opposite are two principal kinds of waves, the 1 wall, where it is reflected and comes transverse and the longitudinal, these ! back to me. In a wave of the sea, names being given from the direction ! i. e.. a surface wave in a liquid, the of the vibration of the medium. In : Quite obviously the paper does not travel witii the wave; it merely rist s and falls again at points successively farther and farther from my hand. The wave travels on, however, and is quite as clearly a wave as any other you like to name. Here, again, is a rope stretching from one end of the hall to the other. I give it a transverse impulse by striking it side ways near one end, and you see the the transverse wave the motion of the material is to and fro at right an gles to the direction of the motion of the wave. Here, for instance, I have along strip of corregated paper lying on the table. I lift one end quickly and bring it down again; a wave runs right along to the far end. vibration is also, transverse that is to say. any particular particle of wa ter moves up and down as the wave passes along. You all know from ex perience that a cork on water merely hobs up and down and does not travel forward with the wave. If the water went forward, of course, the cork would go, too. Journal of Arts. w&Ljili iff iilll fe fei Hustling Committee that Puts Out the Dragnet for New Membership Applications. Missed the Combination And Spoiled the Joke Brown and Johnson hurrying along the street. The latter had a parcel under his arm, and Brown, always inquisitive, wanted to know what it contained. "Well." said Johnson, "if you must serve in the Omaha branch ot tne k r UJt b ht a pair o gait. Federal Reserve bank. This il based .. - ---- w KIlLKi UULM LUWs on not less than 7 per dent of the net "Where at'" asked Brown. deposits of country banks and 10 per 0h j don-t know the name j,ut cent ot the net deposits or tne city ,v. . i . hnn nt riwn that allev t...i.. Ti.- ur. .. I,..!,. ...ill oft- I .. r r, , , uaiiKs. me vvyuiiums iiaima ivv. i across mere, saia jonnson. Scntember 30 carry reserve! in this "Ah-hal" laughed Brown, who al bank totaling about $2,000,000. .The ways Hked "his little joke, "then they reserve ot tne Wyoming national banks win be deposited here not ear lier than September 30 or October 1, as .Wyoming has only recently come definitely under tne umana jurisdic tion. The total reserve deposits then of the Wyoming and Nebraska banks in the Omaha branch amount to $16.000,000. ' ' The Omaha branch bank has prac tirallv all the cowers of the head of fice at Kansas City and all the deal ings with the member banks ot tnese two states are handled by the Omaha branch. The federal reserve banks Ho husiness onlv with member bfnks They have no dealings with the pub lic. Functions of Bank. The main functions of the Federal Reserve bank is. first, the gradual tak Ing over of the money-issuing power, which since 1863 has' been largely done by the issuance of national ljank notes. The notes issued Dy me new banks are known as federal reserve notes. These come in denominations of $5 and up. The $1 and $2 bills are still issued by the United States Treasury department, largely against deposits, of silver. The second main function of the Federal .Reserve bank is the redis counting of agricultural, commercial and industrial paper sent in to the re serve bank by the member banks. These .banks also' purchase "accept ance," a form of rediscount long much in vogue in Europe, but only recently practiced here. V, ' One Veason for the establishment of the branch.was to bring the Federal Reserve banks in closer toucn witn the members, so as to get quicker action on transactions as well as more prompt collection of checks. Another important reason for , the branch banks is that members can more read ily and quickly, obtain supplies of cur rency, thus enabling them to keep a smallef average amount of cash on hand in their own banks. The Omaha branch now has a force of seventeen employes. There are two officers, a manager and a cashier. Singing Organ Among The1 Coming Possibilities An organ recital a few years from now will be actually a recital of words, besides music. And the organ will do it all. For the last ten years Prof. Dayton C Miller of Fargo, N. D., has been at work inventing an organ which will actually sing words. He has al ready formed combinations of pipes to speak the vowels and to say "mamma" and "papa." "I have only to perfect the instru ment to sav some simple sentence," says Dr. Miller" Then the problem of having an orchestra and chorus in one will be solved." , Dr. Miller has invented one com plicated machine, he calls the phone dcik, and a number of others, all help ing him toward the invention of the speaking organ. To make the organ speak Dr. Mill er says he had to analyze the simplest sound first into its component parts. And t& do this he had to see the sounds. Hearing them wouldn't do So he invented the phonedeik which shows you, in black and white, the sound you speak into it. 1 The writ ing is in cross strokes of various shapes, each sound having a different stroke, which Dr. Miller calls a "curve." ' Dr. Miller photographs these strokes, runs them through a ma chine that analyzes them into their simplest parts, puts them on another complicated instrument that checks up the analysis, builds his organ pipes t correspond with the mathematical -alculations and produces a sound oui the orpan l;ke that spoken into the phonedeik. Fargo Courier. must be allev gaiters." This so tickled Johnson that he made up his mind he, must tell it to his wife, so on reaching home he burst into the room and laughed un til his wife thought he would never stop. . . She wanted to know what was the joke, so Johnson stajted to tell her. iia-lia, lie-he. Oh, such a joke! I just met Brown and he asked me what I'd got in my parcel. "I told nim I'd bought a new pair of gaiters, and didn't know the name of the shop, but it was down a little court. J "He immediately said, "Good I Then you've got two crocodiles.' What I You can't see it! Well, I'm blest!" said he, as his wife maintained a se rious expression. "That's just the way with women. They can't see a joke when it is staring them in the face. I saw it in a moment." Then he went out into the fresh air, slamming the door as he did so. Pittsburgh Chronicle. , Why Hot Water Pipes Freeze More 'Quickly Than Cold It is a constant observation that during a sudden cold snap hot water pipes burst, while the cold water usually freezes up tight without rup ture of the pipes carrying it. A French experimenter has recently looked into the cause of this. He finds that the hot water invariably falls to several degrees below zero Centrigrade before beginning to solidifv, and that the ice then formed is perfectly solid and transparent. Or dinary cold water, on the other hand, Ni .HO VV OS 9UUII (19 iilC of-. ..I-- .:. J. L.J. .L., . - iii.i..iiij pumi is icaeiicu , inai ice is i..icu with air bubbles, and pres ents a soft and mush appearance. The explanation is that the air and other impurities in ordinary water furnish nuclei of crystalization. Ice formation thus begins sooner and proceeds more slowly than if these were absent; and the ice formed is more mobile, so that pressure is not so severe. Hot watei however, is to a large extent free of gas parti cles, which have passed off during the process of heating, so this effect is not observed. Freezing does not take place gradually, but all, at once, with somewhat of an explosive ef fect? and there is no cushion of gas bubbles to take up the shock. That this explanation is correct is indi cated by the fact that when a cur rent of air is forced through the hot water just above freezing, it be haves in every detaH just like cold water. Locomotive Engineering. Bee Want Ads Produce Results.' We offer choice first mortgage loans on Eastern Nebraska farms, yielding 5 and 5J. No safer investment could be made. In amounts of $1,000 to $10,000. You are cordially invited to come to our office and talk it over. United States Trust Co. 212 South 17th St. Omaha, Neb. A. L. REED, President. Use Bee Want Ads and Watch Your Business Grow and Prosper .. m ; H o ;. m . - ' i n I Fioneer EisS aYiiiffs Bank Authorized Caiiital,$20();000.00 1 Securities Building 16th and Farnam Streets . FARNAI STEEET ENTRANCE , 3 We Pay -Interest Compounded semiannuaUy on Savings Accounts and Time Certificates of Deposit. SNt Contempt. A certain iraa whom pravtoui rteord wm f th bet iu charged with a minor of-t-rtus. Law nd evidence were unquestion ably on the .lift ot the defense, but whpn the rrumpnn had been concluded a. verdti t of "guilty" was given and a fine Imposed. The lawyer for the defense was sitting with his back toward the magistrate. With out changing his position or rising to ad dress the court, he remarked: 1 ; "Judge, please fine tn,e for contempt of court." i . ' i The magistrate inquired ' , 'Wfcat d'ye mean, etorT Ten haven't ,om niKtctl contempt. . . "I have,'' came from th eld lawyer "It's silent'' Atlanta Journal . This Bank is organized under the Banking Laws of Nebraska. Its deposits are protected by the Bank Guarantee Fund of the State, and it is regularly inspected by the State Banking Department. eeurities Buildin First Mortgage Certificates and Bonds NETTING 5 and 6 INTEREST A Safe?' Investment For Savings or Surplus Funds Securities Building 16th and Farnam Sts. OMAHA, NEBRASKA Owned by the GUARANTY SECURITIES CO. of Nebraska. GENERAL OFFICES 16TH AND FARNAM STS. OMAHA, NEBRASKA. OWNED BY THE Securities Company OF NEBRASKA 1 Guaranty M S3 S3 S3 THE GUARANTY SECURITIES COMPANIES 4 ; -INCORPORATED MORTGAGE AND BOND BANKERS 4 Combined Capitalization, $1,020,000.00 BANKING HOUSES 118 North 13th St. Lincoln, Nebraska Securities Bldg. Omaha, Nebraska Securities Bldg. Des Moines, Iowa 1624 Stout St. Denver Colorado TP r1t . V ! 1 hrs-&i '"KfiU -Tij i in Tim " jg"- TV -WaissKS 1 Entrance to d Pioneer Savings Bank I E3 Securities Building 'DES MOINES, IOWA , 'is. scomirm suksw Owned by the GUARANTY SECURITIES CO. - i- of Iowa. Real Estate Loans- Amortization Plan LONG TIME LOW COST EASY PAYMENTS HiiB!l!ii!li!ll!llll!iS L 4 ' ' ' t " ""WWWUWM