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.
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