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About Omaha daily bee. (Omaha [Neb.]) 187?-1922 | View Entire Issue (Aug. 29, 1919)
THE BEE: OMAHA. FRIDAY, AUGUST 29, 1919. Lincoln Bureau of The OmahaBee WARN BANKERS BUYING NOTES ON STOGIC SALES Reports of Examiners Show Alarming Conditions Where . Salesmen Have Been . i Active. Lincoln. Aug. 28. Secretary of . Trade and Commerce J. E. Hart has been receiving reports 'which has led him to issue a circtil.r let ter cautioning banks regarding the - purchase of notes giveti for stock ' sales. In discussing the matter this morning Secretary Hart said: "The reports reaching the de partment through the bank exam iner" show an alarming condition in some localities where the stock salesmen seem to be most active. ? "Collect at Maturity. "The attitude of the department has been in the direction of cau tioning banks to use the utmost discretion in the purchase of all notes given 'for the purchase ob stocks and where such notes have . been purchased the banks have been . admonished, to collect them at ma turity and not grant repeated ex tensions. Instances are on record ' where banks have refused absolute ly stock sales notes regardless of the responsibility of the makprs or endorsers. "The department is pleased to note that the general tendency of the- banks is in the direction of caution. The attitude of the' de partment is not to interfere with the development of any legal, honestly and ably managed Nebras ka ' enterprise seeking to dispose , of its stock but is directed toward the sale of unlicensed and illegal issues." Asks Cashiers' Aid To cashiers of banks Mr. Hart sent the following circular letter this morning: ' "Reports are reaching this de- - partment of the sales of stocks over the state in unlicensed com panies seeking to promote various .questionable enterprises, promising . fabulous returns in dividends, ' "Unscrupulous salesmen are ne : gotiating these sales and in many instances taking the purchaser's note and discounting the note at the local bank. Numerous in stances are on record wher col- - lection of these stock sale notes has been resisted, resulting in cost ly litigation and ultimate loss to ;" the banks. Bankers who value their reputation for integrity will not knowingly lend influence to such stock sales and banks shouH not buy the notes at any price. ; " AH state banks are requested to co-operate with this department in an effort to check this evil and avoid the lrsseg incident thereto Ny; discouraging the purchase-of ! ihafes bt stock by their customers ; jntil a full investigation shall have seen made and the true merits of the enterprise ascertained. . The P. A. Banowa. Correspondent bureau of securities recently or ganized under this department for the purpose "of enforcing the blue sky law, will answer all inquires and should'be advised promptly of all questionable methods employed in the sale of stocks. "Legal assistance will be furnish ed where the local county officials neglect or refuse to investigate or prosecute violations of this law." Many Ask Permission to Sell Stock in Nebraska Lincoln, Aug. 28. The Eastern Potash "corporation of New York City has made application to the state securities department for per mission to issue $500,000 in pre ferred stock. Other corporations asking permis sion to issue stock are the M. E. Smith Building company of Omaha, $1,000,000 in common 'stock; Farm ers Co-Operative Elevator com pany of Arnold, $50,000 in common stock, and Nathaniel C Esterbrooks and others at Carleton, $150,000 in oil and gas units. Permit was issued to the Farmers Union State Exchange of Omaha for the sale of $1,000,000 common stock. Governor Appoints Lincoln Man On State Control Board Lincoln, Aug. 28. (Special.) Governor McKelvie today appointed L. C. Oberlies, Lincoln lumber deal er, to succeed Dr. B. F. Williams as a member of the State Board of Control. Dr. Williams submitted his resignation to the governor a few days ago. Mr. Oberlies, who has lived in Lincoln for the last 40 years, is a democrat and is a graduate of the Nebraska State university. He served (in the state senate in 1917 and during the war was executive secretary of the state organization for the United War Work compaign, which raised over $2,800,000. Governor at Celebration. - Lincoln, Aug. 28. Governor Mc Kelvie is attending a home coming at Dakota City given in honor of the returning soldiers who went into the service from Dakota county. He will address the people at the Thay er county fair at Deshler Friday. Fremont War Veterans to Raise Funds With Carnival r Fremont, Neb., Aug. 28. (Spe cial.) Henry Ttegeler, jr. Post, American Legion has contracted with a carnival for a week's show in Fremont beginning September 15. Fremont has tabooed carnivals for several years, the city council re fusing permission for the companies to show downtown, but Wednesday night permission was granted for one at the request of the post of ficers. It is expected the Ministerial union will make a fight against the carnival coming. Farmers Atttend Picnic. Wahoo, Neb., Aug. 28. CSpecial.) The Allied Farmers' union picnic in Koudele's grove, one-half mile west of Wahoo, was well attended in spite of unfavorable weather con ditions. This picnic has become a popular annual affair. Th M e House of NAGH 5 Quits Business 'October 15th " Our entire stock of the highest grade , apparel for women and all of our fixtures must be sold by that date. We had anticipated a long term lease an our present location, but in June we were notified to be ready to vacate when our present lease expired. . The Sale Starts Saturday, August 30th .EVERY COAT MUST BE SOLD v EVERY SUIT MUST BE SOLD i EVERY DRESS MUST BE SOLD EVERY SKIRT MUST BE SOLD EVERY SWEATER MUST BE SOLD iA - ; , - ; All garments that are on order to be delivered must be sold as they arrive. Our entire stock is being repriced and will be ready for ,sale Saturday morning. f - Read Friday Night Papers for Full Particulars. We Want 25 Garment Saleswomen for This Sale. " Apply Friday. GARLOT DEALER ATTACKS APPLE GROWERS' PRICE Testifies That Eastern Fruit Can Be Shipped in Cheaper Than Nebraska Grow-. ers Ask. Lincoln, Aug. 28. Charging that Nebraska apple growers were re sponsible because New York apples were sold in Nebraska, because the local growers asked such a high price that it was cheaper to ship in eastern fruit, C. C. Whitnack, a Lin coln "carlot" man, appeared before the food probe committe at the state house and occupied most of the forenoon in explanation of his method of handling- produce. Mr. Whitnack has no storehouse. He simply buys from the producers and sells his stock while it is mov ing. In fact, he said, that he sold 95 per cent of the stuff purchased before it arrived at its destination. A great deal of his business is done with the farmers' union associa tions in smafl towns, which buys the fruit for distribution among the members. Farmers Storing Apples.' Nebraska apple growers are al ready putting a price of $7 to $8 a barrel on their apples, according to Mr. Whitnack, and if they do not get that price they refuse to sell, storing the apples until they can get what they want. Most of the storage was made in Omaha and Lincoln, he believed. Mr. Whitnack admitted that on a cash capital of $20,000 he had done about $1,000,000 business and had made a gross profit of $29,000, of which about $14,000 was net. He said that his gross profit was from 4 1-2 to 5 1-2 per cent and that he turned his stock about 50 times a year. The farmers took most of his stuff, because they could divide up a car. However, he was compelled sometimes to sell to the jobber what he might have left, and sometimes this was at a loss. He said that taking potatoes as a sample, carlot dealers should have 25 cents per hundred for a fair profit. He had no particular rule in this regard as he had. to buy and sell on the open market, making the best deal he could. Takes Shot at Jobbers. Joseph DeKlotz, a Lincoln grocer of 30 years' standing, said that dur ing" the past four years there had practically been no difference in the prices made by Grainger Bros, and Stacy Bros, of Lincoln, wholesale fruit firms. He backed up his state ment -with invoices showing identi cal prices from both firms. Mr. DeKlotz charged that the job bers were making an unfair profit. He showed an invoice which. Grain ger Bros, -had by mistake left in a case of raspberries. The invoice showed that they had made a profit of $1.50 on the case, while the best he could do was to make 85 cents on the case. Pioneer Nebraska Woman Dies at Home in Peru, Aged 98 Years Mrs. Mahala Pearl Graves, with in one month of being 98 years old, died Wednesday evenng at the home of her son, Julian D. Graves of Peru, Neb. She is survived by seven children, 35 grandchildren and 72 great-grandchldren. The ''Grand Old Lady of the Graves," as she was known, was born September 24, 1821. Two girls rnd one boy preceded her in death and her husband, Wlliam W. Graves, died 25 years ago. Her living children are Mrs. Harriet E. Miller of Glenwood, la., 81 years old; A. H. Graves of Murray, Neb., 79 years old; C. M. Graves of North Yakima, Wash., 74 years old; J. D. Graves of Peru, Neb., 72 years old; Mrs. Mary E. Burnett of Rock Bluffs, Neb., 69 years old; A. S. Graves of Bellevue, Neb., 62 years old; C- L. Graves of Union, Neb., 58 years old. The Graves family were pioneer residents of this state and were all long-lived. Among her grandchil dren, Kid Graves, former welter weight champion and sporting editor of The Bee, and Andy Graves, the famous semi-professional base ball pitcher, are probably the best known. Her health has been failing for the past two years. She was active and refused to wear glasses when she was sewing or knitting. Funeral services will be held in the Rock Bluffs church Friday aft ernoon. Interment will be in the Rock Bluffs cemetery. SPECIAL PRICE FOR LOW GRADE WHEAT IS FIXED U. S. Grain Corporation An nounces Scale Effective Sept. 2 Dealers Must Pay Set Prices. A schedule of prices for lower grades of wheat, effective Septem ber 2, over the entire country, was announced by the United States grain corporation, in a bulletin is sued by the local offices. This action is the result of a con ference between Wheat Director, Julius H. Barnes and the officers of the grain , corporation. This conference followed a meeting at New York on Tuesday when Direct or Barnes discussed the proposition of fixing prices for these grades, with congressmen and representa tives of the farmers. A feature of the schedule an nounced is, that it has been fixed relative to the guaranteed price at terminal markets only, and not as to the current prices at many mar kets, which are considerably above the guaranteed figures. The immediate effect is to sta bilize the price for the lower grades and to assure the producer a fixed amount for wheat of this quality. Thf removes all prospect of grades of this kind going to "chicken feed" prices, as has been feared by many farmers. The Bulletin. The corporation's bulletin fixing the schedule is as follows: "After two days' consideration by Wheat Director Barnes with the officers of the United States Grain corporation 'of the problem raised in respect to this year's wheat crop suffering from the effects of adverse weather conditions during the growing; and harvesting season, the (Tain corporation has reframed Its scale of dis counts for the lower grades of wheat on a basla calculated to give the producer the benefit of every doubt as to the value of light-weight wheat. In order to protect so tar as possible those producers In wide sections that have suffered unfavorable crop developments with the production of an unusual quantity of low-grade wheat. Effective September 1. "This scale is effective September 2, and all dealers will be required to pay pro ducers not less than the proper country point reflection of the terminal guaran teed price for No. 1 wheat, and with the relation for other grades as follows: No. 2 wheat 3 cents under No. 1 No. 3 wheat 3 cents under No. 2 No. wheat 4 cents under No. S No. 6 wheat 4 cents under No. 4 "For nil whnat otherwise conforming to th'e specifications of No. S or better, but trncing mmm and THE, AEOLIAN COMPANY wishes to announce that the OAKFORD MUSIC CO. has' been given exclusive representation of the Pianola, the genuine player 'piano, and the AeoHan-Vocation HEN an organization with the fine traditions and commercial power of the Aeolian Company appoints a new agency, the con' nection is a matter of keen public interest. "x- The makers of the Pianola and the greater phonograph, the Aeolian'Vocalion, bespeak for their new agents the continued patronage of the musiclovers or' Omaha who already know the superiority of Aeolian products. They also wish to announce that the genuine Pianola is not merely a player-piano, for the Pianola provides you with a thorough and complete control of pianistic effects an ability to play, which no other playerpiano can equal. HPHE Pianola is made only by The Aeolian Company m the follow ing models: , ' v J The Steinway, Steck, Stroud, Aeolian and x famous Weber THE AEOLIAN COMPANY NEW YORK MELBOURNE LONDON SYDNEY PARIS MADRID deficient In test weight, discount No. 5 price I otnts for each one pound deficiency In test. Wheat grading below No. & for reasons other than deficiency In test weight shall be bought on its relative merits. "Smutty wheat to be discounted from I cents, for slightly smutty, to Urge dis counts, according to degree of smut. "Mixed wheat will be taken at discounts ranging from 2 cents to 6 cent, according to quality. In the Judgment of each vice president. "Mixed wheat and rye grading mixed grain will be dlsoounted as follows: Esti mate the average value of the wheat and rye separately as to their proper value and In their proper proportion, figuring the rye at 60 pounds per bushel, make al lowance for dockage or other Inseparable foreign material, and make such deduction a seems Justified, but not less than 6 cents per bushel as a penalty for the mix ture. "Garlicky wheat to be discounted 2 cents." ' This year's wheat crop contains an exceptionally high proportion of "rusty" or defective wheat and farm ers generally have been loud in their complaints of not receiving proper amount for their crop under the spirit of the terms of the presi dent's proclamation a year ago, as suring them of a price sufficient to induce them to put in a large acre- Scribner Requests Lights From Fremont Power Line Fremont. Neb., Aug. 28. (Spe-cial)r-A delegation of Scribner city officials attended a meeting of the city council with a request for per mission to connect with the Hooper power and light line from the Fre mont city light plant. Scribner of fered to pay the same rate Hooper is paying. New Land Record. Wahoo, Neb., Aug. 28. (Special.) A new mark was set for farm lands in the vicinity of Wahoo when Peter P. Cernek sold his farm, lying on the Mead road, one mile east of Wahoo, to John T. Pokorny for $450 an acre. Gage County Supervisors Raise Tax Levy 2.18 Mills Beatrice, Neb., Aug. 2. (Spe cial.) At a meeting of the ,uper visors a levy of 11 mills on taxable property of the county was adopted. The levy is an increase of 2.18 mills over last year, raising $54,500 more than a year ago. The ice dealer were before the board for a valua tion on ice and it was placet at $3 per ton. The Rockford State bank, which was recently started at Rock ford, was designated as a county depository. Odell Pioneer Dies. Beatrice, Neb., Aug. 2& (Special John Barrett, 80 years old, an old resident of Saline county, is dead at, his home in Odell. He located in; Saline county in 1858 and partici pated in battles with Indians. He is survived by three sons and one daughter. 1 hj:iir,rUt-f---4n: ThontpsbiirBelcieii &Co. Uie 7hsJiJ02t Qeitier Jor Tvomeit The wrap sketched is a mink cape, made from 60 very fine skins and is priced in this sale, $1,200. After September first, $1,500. This is the Last Week of the August Sale of Furs A complete assortment of exception ally perfect furs, showing an atten tion to execution and adherence to the prevailing modes that should please the most discriminating. Very fine , coats and coatees of Hudson seal, as well as mink, rac coon, muskrat, natural squirrel and Scotch mole. Separate pieces, stoles and capes of mink, silver fox, black and taupe fox, black lynx and Hudson seal. An altogether satisfactory collec tion from which to choose. In order to take advantage of the 20 per cent reduction in prices, furs must be selected this month, Friday and Saturday. Upon arrange ment with the credit office, however, purchases will be carried oyer to the November first state ments, or upon a 10 per cent payment furs will be held until December first; storage until December first on all furs purchased here is without charge. Golf Hose... Pure Australian wool golf hose in gold heather, green heather, lovet and oxford, $3.50 and $4 , a pair. Remnants of Outing Flannel Serviceable, d e s i rable lengths from 2 to 6 yards. 40c and 50c material, in medium and light colors. 27 and 36 inches wide. .Friday ' 19c and 25c a Yard In the Basement Odd Pieces of Neckwear Vests and vest ees of various ma terials, tailored or lace trimmed. Collars and col lar and cuff sets of linen, organdy and pique, felling Thursday for Half Price 7 THE llartmann Panama Wardrobe Trunk at$75.00 - g HARTtlANtt is the biggest value in a wardrobe trunk that you can buy. Has lift top, padded in side, locking device for drawers, shoe box easy to get at, laundry bag and hat bos. Freling & Steinle BAGGAGE BUILDERS 1803 Farnam St. A BI6 FREE DISH OF LOCUST LANE FREEZE THE NEWEST SHERBET UNION OUTFITTING GO. There Is a Saving of Many Dollars in Their August Furniture Sale. Perhaps the Last Time That Good Furniture Will Sell for So Little Money. Good, dependable furniture at reduced prices is such a rarity, these days, that the very substan tial reductions on Homefurnish ings in the August Furniture Sale at the Union Outfitting Company is, being doubly welcomed by thrifty homelovers. There is furniture for every room in the home, ranging from odd pieces to fill in a vacant corner here and there, to com plete suites; and all at a genuine saving over regular prices. But whether you are in need of furniture or not, by all means drop in the store when you are tired and hot after shopping for a big, refreshing dish of Locust Lane Freeze, the new Sherbet. Locust Lane Freeze is "dif ferent." It is made from Locust Lane Buttermilk a wholesome food, good tor you and the chil dren. Remember the Union Outfit ting Company sells only guar anteed Homefurnishings and no transaction is ever considered complete until the customer is thoroughly satisfied. Milium milium a good desk is made from selected ma- 5 hogany. The panels, draw- f f er fronts, tops, slides and I writing beds are "built ? I up," a method of construe - ? tion that doubles the life Z and quality of your desk. Z ? The dove tailing of the r I drawers, the hardware and Z 4 the finish are as perfect - I as on a high-grade piano. " I In fact, "a good desk" I ? is one you will be glad to jj Z work with for fifteen or - I twenty years or more j Z glad to show you such a w desk any day. j Z We have several flat top, - I used desks at.... 845 ? Z Excellent values in every I instance. - Orchard & Wilhelm Co J i Sixteenth and Howard Street. I Phone Tyler 3000. iTiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiniiii. Why Not Try a Bee Want Ad? 9
