15
SPECULATION IS
CHECKED, CLAIM
OMAHA BANKERS
Federal Reserve Banks' Policy
of Deflation Successful
Securities Market
V Tight.
Th policy of deflation adopted
.'by 'the Federal Reserve bank two
month! ag is working out wen, ac
cording to bankers generally.
Speculation which was causing
prices of s II commodities to soar
higher and higher has been checked
unttlnow it Is -not always easy to
market high grade- securities.
".While this is hard on some peo
ple in general it is a good thinrr,"
said lohn W . Gamble, vice presi
dent of the First National bank of
Omaha, today.
Prices Forced Down.
. America must net back on a nor
' mal basis. It may be one or even
two years before we are in a' safe
and sane foundation, but the federal
reserve system undoubtedly can
bring this about.
VPrices on ' certain commodities
have been forced down to a certain
extent. Credit Jtas been restricted,
and merchants no. longer have to
buy on a rising market. People are
not purchasing luxuries as they
were, and this is having good effect.
"Inflation of the currency had
reached a point whre something
drastic had to be Gone. During the
-war, the federal reserve system met
. the emergency and stood back of
the banks, keeping industry going.
When the war closed, the public
went on as usual. Interest v rates
were low and credit was easy.
. Emergency Is Past.
"This country has just passed
through a perilous period of specu
lation. Until the Federal Reserve
ktr.ks raised their discount rates and
installed their system ot progrcss;ve
charges, nothing could be done to
bring us back to normal."
Business men ny things least es
sential Ithat are being chopped off
hrWt. ' By raising the rates of redis
cbu&is, new speculation becomes in
creasingly difficult, for the p.-.-.sou
that it Costs more c carry a loan
an dthe risk is proportionately
greater.
i Speculators who, when money was
plentiful, Could give merchandise as
f security, in the shape of a ware
house receipt or a bill of lading,
have been forced to throw their
goods on the market. It is said that
under conditions of -cheap money it
was possible to accumulate goods in
forage and create an artificial short
age, that forced up prices. This is
bo longer an easy thing to do.
Youthful Toreador Kills
Bull to Protect Man's Life
Indianapolis, Aug. 22. With a
brickbat in his hand and the temerity
of a toreador in his heart, a small
boy played hero for a moment at
the stockyards here the other day.
killed a bull that attacked an old
cotored employe of the yards, and
the 'ran away. -
$toekyards officials are trying to
learn the identity of the youngster.
vie -apparently became frightened
It ivhat he had done and fled. The
bull escaped from its pen. and the
key, Seeing the peril of the negro,
Rob William, picked' lip a brickbat
and nutled-it at the. beast. Struck
between the eyes, the animal sank
to the ground and died.
, rUked to Give Her True Age,
Woman Decides Not to Vote
Topeka, Kan., Aug. 22. There's
not much "joy" in a woman voting
if she . is forced to give her "true
age" to be enabled to do so, in the
opinion, of . Mrs. Margaret M. Mc
;Carter of this city.
. Appearing at the city hall to reg
ister, "Mrs. McCarter gave her age
aa' "over '21." Then the clerk in
charge quietly but firmly informed
ker that, under a new ruling, women
must give their correct age. or forcj
f:o registering. Mrs. McCarter re
used to register. ,
r
UPDiKE SERViCE
We Specialize in the Careful Handling of Orders fot
Grain and Provisions
FOR
FUTURE DELIVERY
All Important Markets
WE ARB MEMBERS OF-
Cfctcac Baa H el Trad
Milwaukee Chamber mi Commerce
Miaaealis Chamber of Cemmerce'
Omaha Grain
; WE OPERATE
OMAHA, NEB. CHICAGO. ILL. GENEVA, NEB.
LINCOLN. NEB. SIOUX CITY, IA. DES MOINES, IA.
HASTINGS, NEB. HOLDRECE. NEB MILWAUKEE. WIS.
ATLANTIC JA. . HAMBURG, IA.
All af these attic aa are caanacttd with aach other by private wires.
W are operating; large up-to-date terminal elevators In the
. Omaha and Milwaukee markets and are in position to handle
your shipments in the best possible manner L e., Cleaning, .
Transferring, Storing;, etc.
' aBBBBBaaBBBBBBBJPBaBBBBaaBBBBaBBBBBBBB '
It will par you to get in .touch with one of our office
whoa waattag to BUY or SELL any kind of grain.
V. WE SOLICIT YOUR
Consignments of All Kindt of Grain
to OMAHA, CHICAGO. MILWAUKEE and SIOUX CITY
Every Car Receives Careful Persona! Attention
The Updike Grain Company
THE RELIABLE CONSIGNMENT HOUSE
Girlo! Girls!!
Clr Your S!nn
Vitfa Caesura
GRANTS PLEA OF
LONELY WIFE TO
GO WITH HUSBAND
Chairman of Shipping Board
Proves i He Has Kind
Heart Sometimes.
ChlcaVf Tribnae-Omalin Bra Leased Wire.
Washington, Aug. 22. Uncle Sam
has a heart some times. Evidence
of this has just 'been exhibited
through W. S. Benson, chairman of
the United States . shipping board,
answering the plea of the lonely wife
of an American shipmaster to be
permitted to accompany her hus
band on one of his long voyages.
Chairman Benson ruled, after Cap
tain Foley, director of operations, to
whom the ship captain's wife's ap
peal was" addressed, had recom
mended it,-that wives of masters un
der certain conditions, could accom
pany their husbands on Voyages. -
The plea of this shipmaster's wife
tells it's own heartfelt story.' Here
is part of the letter:
"When I tell you how I have been
left alone for the past three years, I
am sure you will give your consent
for me to make just one trip. Please
let him sign me,as one of the crew.
I have my passport, and I will not be
in the way. I do all of . his book
work and keep his accounts for him.
I am an orphan, and I get so lonely
on his run to South America, which
keeps him away some times for six
months. After' being away six
months he is jrointa to sail again
after being in port a little over two
weeks. In all . the last tnree years
he has only been home three months.
Up until last October he was in the
united States navy. c is on in
active duty.
"During the war 1 did not mind
being left alone, for I was busy with
my war work, but now it seems I
can't be left along. anx. more. Wt
are buying a little home, and right
now my husband can't quit his work
on water, as he has followed the
water all his life, except when he
went to the Philippines to fight with
the United States army. I am proud
of mv husband's war record for his
boat sank a submarine and he has a
sword given him by the boys on his
boat when he was put on inactive
duty."
Mine Teams From 17 States
Entered in Rescue Contest
Washington. Aug. 22.i-Miners'
first aid teams representing 17 states,
Canada and Mexico have been en
tered in the mine rescue contest at
Denver next September, it was an
nounced by the American Red
Cross. The list ot 63 entries is ex
pected to be increased by state
elimination contests now being held.
Dr. E. R. Hunter of the Red Cross
will be chief of judges at Denver,
assisted by Dr. J. W. Amesso of
Denver and K. A. Vergm ot Pitts
burgh.. . ,
ADTTEHTISESTEXT
"DANDERINE"
Stops Hair Coming Out;
Doubles Its Beauty.
A few cents buys "Danderine."
After an application of "Danderine"
you can not find a fallen hair or any
danarutt, besides every hair snows
new life, vigor, brightness, more
color and thickness.
:
St. Louis Merchants Exchange
Kauai i City Beard of Trada '
' Stous City Beard of Trada
Exchange
OFFICES AT.
mfmmnmnraiMSimA.
KtroWORM. TaV
aa xrs
n
THE BEE: OMAHA", MONDAY, AUGUST 23, 1920. ' ' - 1
tt V- J( s v llCil
' - ' ' . ' , aaaaamaaBSarl
Oaaaaaaaaaaaaaaaaaaaaaaaaaaa-ajaaaa--ia 1 " " - - - 11 i m
I '.
i i . i i
Service
First !
at the
Union Stock
Yards Co.
of Omaha
The Live Stock
Market of
Good Results.
niairiaTZTittv
' iin.l i a.a a w
10 yean.
litObMtt M(iC atr(tll
Swartz Light
Guaranteed S year.
Thew & Carley, Inc.
OMAHA, U. S. A.
"Service and Satisfaction"
HARD COAL
ALL SIZES
GEIIUIUE BERfllCE
OZARK LUMP
(Semi-Anthraaite)
BOYER.1IAN If U RAN
LUMBER I "0ALC0.
CALL COLFAX 80 FOR PRICES
ORTMAN'S
New England Bakery
214 No. 16th.
Branch ft at Central Market, ' Hayden
Bros, and Table Supply.
THE AUTO TOP AND
TRIMMING CO., Inc.
"Better Work"
Perfect Tailored Seat Covert and
Topi.
420-22 So. 13th St., Omaha, Neb.
Douglas 7114.
BEMIS BRO.
BAG CO.
of Omaha
MOTOR
.TRUCKS
fTHERE is not a drop of water In
International Harvester common and
preferred stock. Financial authorities
will tell you there is more than a dol
lar of value in International Harvester
properties for every dollar of capital
ization. rTHAT means that the products of
International Harvester factories do
not have to provide a single dollar of
excess revenue. It means that in the
price of Inernational Motor Trucks
there is not one penny of inflated
value.
The International
Harvester Company of
America
Omaha Branch: 714-716 So. 10th St.
s I '
WELDED
OIL STORAGE TANKS
HORIZONTAL or VERTICAL
Capacities 2,000 to 20,000 Gallons
Shipment IS Dave.
Write sr Win Ut Your orseri.
NEBRASKA and IOWA STEEL
TANK CO.
I3N Willi! Are.. Onaht.
Everything for the Office
We en crave visiting cards, wedding -invitations
and announcements
The Omaha Stationery Co.
30T-309 So. 17th St.
Phone Dauglaa SOS.
Iliggins Packing
Co.. Inc.
36th and L Street
Beef and Pork Products, Butter,
Eggs, Poultry and Cheese
Sausage of All Kinds.
Our Motto
Quality and Serrice"
U. S. Gov. Imp. Abbt. 643.
Phones: So. 4995 Tyler 4467
Chiropractic
Makes Ypu
Well
Keeps You
Well
LEE W.
EDWARDS
CHIROPRACTOR
24th- and Farnam Sts.
Douglas 3445.
Omaha Printing Co.
OMAHA, U. S. A.
GLASS,
MIRRORS,
PAINT
PITTSBURGH
PLTE GLASS CO.
11th and Howard Sts.
BUEHLER BROS
MARKETS
Special on Quality Meats and Provisions
FOUR STORES:
'212 No. 16th St. 4903 So. 24th
240S Cuming St.
634 Broadway, Council Blulfs
THE H.ANOY PIP. TROUGH
17m. F. floesigg
OMAHA'S RELIABLE AUTOMOBILE
PAINTER.
CADILLAC BUILDING
2570 Farnam St Harney 144S.
Carbon Coal & Supply Co
WHOLESALE COAL
190S HARNEY ST.,
Grain Exchange Bldg.
OMAHA, NEB.
PAXTON - MITCHELL
COMPANY
Manufacturers of Brass, Bronte and
Aluminum Castings.
A specialty made of soft Gray Iron
Castings.
Carpenter Paper Co.
Wholesale Distributors
PRINTING PAPER, WRAPPING
PAPER, PAPER BAGS, BUILD-
ING PAPER, FANCY
STATIONERY.
HAMILTON WATCHES, accurately ad
justed and closely timed $35 to $12S.
.eaatttBltaw
U. S. - Canadian Committee
Considers Transport By
Lake-to-Ocean Water Way
By CHARLES P. CRAIG.
(In the Saturday Evening Post.)
Beginning in April and running
through to June, to be continued
further sfter the heated term, a com
mittee representing the governments
of the United States and Canada is
in session at the lake ports and at
various interior points to consider
an improvement to be made by the
two countries together. '
The improvement under considera
tion is the opening of the Great
Lakes to ocean-going traffic through
the St. Lawrence. Under the treaty
of 1854 the United States has rights
of navigation in the St. Lawrence
from its source to its mouth. Our
ships have the same right to go and
come through the river and on the
same terms as a British vessel.
Under the treaty of 1909 the Inter
national Joint commission was cre
ated, having jurisdiction over the
boundary waters. In some matters
the commission exercises final au
thority, in Others it is the proper
body through which action should be
initiated. So when the western
states and the northwestern pro
vinces .sought a new outlet to the
sea it was to the International Joint
commission that the inquiry was re
ferred. v
For the last ten years the com
mission has been accustomed to
hold its sessions on either side of
the boundary. Now for the first
time it has been authorized to go up
and down the land in both countries.
wherever the facts as to this im
provement are to be developed, with
the object of forming a plan and
policy that will - suit the common
purpose of the two nations.
Transportation System Inadequate.
Any way vou look at it. the trans
portation system of this country is
short of its requirements. Railroad
men complain of the shortage in
terms of billions of dollars; manu
facturers are worried about supplies
of fuel and raw materials because of
ttunspcrtaticn. shortage; shippers
are nervous over deliveries delin
quent because of transportation
thortage; bankers are apprehensive
over postponed settlements retarded
by transportation thortage. Every
onc frets over it.
In January, 191& the railroads
brckc down completely. An embar
go was ordered. It was as though
a great machine had become hope
lessly clogged and could not be
snrted again until the obstructions
were picked out of the gears and
from between the rollers. That was
in the height of war activity and
during the fiercest winter that has
been experienced in a generation.
But in 1919, after the armistice and
duting an extraordinarily mild win
ter, the railroads broke down again.
Again an' embargo was ordered.
In the winter of 1920 the rail
roads got by without any extensive
embargoes and for once the lines
were kept open at the terminals
through the season. That was pos
sible because beginning last July the
railroad administration and the
grain administration, working- to
gether; permitted no wheat to move
until there was a place to put it.
Every year the wheat from the
west begins to move about the first
of September. Every year for the
last 10 years, right after the first
of September, the railroads have
begun to slap on embargoes at
Buffalo, at Pittsburgh, sometimes at
Cleveland, sometimes at Detroit, and
then anywhere or everywhere as the
gears began to grind and bind. The
burden of moving the crops has
given the railroads their peak load
which they have been unable to h
dle. Julius H. Barnes points 6ut
that as soon as the grain begins
to move the eastern roads begin ac
cumulating cars to handle it. They
are obligedHo do that because it is
an unbalanced load. In large part,
the wheat movement flows down the
lakes and comes ashore at Buffalo,
lodging in the dense-traffic area. In
order to handle it at all the eastern
lines increase their, car supply to
bout 120 per cent of their owned
equipment. That can be done only
by robbing the western lines of
aUout 20 per cent of their car sup
ply. - The whole country seeks a way
out from this dilemma. The rail
roads need more "equipment, to the
extent. Howard Elliott says", of
$3,000,000,000. They need also
ercatly enlarged terminal facilities.
They need further; according to the
best calculations, about 500,000
freight cars. They have not the
money or the credit to fill these
' W. H. AHMANSON, Pres.
W. L. Wilcox, V. Pres.
W. A. Smith, V. Pres.
Hatio
JFtopnTari
Tyler 5188
II III 1 1
Omaha
Council Bluffs
Street Railway
Company
needs. And if. they were, endowed
with the credit, the equipment,
which would lie idle most of the
year, would hve to be paid for by
placing higher rates on the whole
volume of traffic. Rates high enough
to pay for equipment that is not
working would have to be higher
than will be commonly recognized
as reasonably fair. That is the di
lemma. The west offers at least a partial
solution. Balance the load factor.
Relieve congestion in the dense traf
fic area by allowing part of the crop
movement to go round it. Release
the equipment by letting it ply back
and forth on short lines to the near
est port. Increase transportation
facilities by giving more employment
to ships, of which there may be a
surplus, and requires less of the
cars, of which there is manifestly
a deficiency. The way to accom
plish this, as it appears to 15 western
states, is to extend to the ocean the
natural highway of the Great Lakes.
A Unique Waterway.
The highway of the Great Lakes
is unique. It has built up an inland
commerce exceeding 90,000,000 tons
a year. There is no other inland wa
terway in the world so bold and
sheer to the very source. The largest
vessels have an unimpeded course to
Chicago and Duluth at the top of
lake navigation. The lakes in their
full depth reach to the rim of the
Great Lakes basin at Chicago, at
Duluth and at Lake Erie. The Great
Lakes are open to deep water navi
gation to the last inch.
TVi l!ila-tn-nrpan. route is like
wise unique. There are other water
ways, rivers or canals, with varying j
advantages, sharing with the rail- (
roads the carnage to the sea. I ne
Great Lakes-St. Lawrence route will
be itself the seaway carried to the
heart of the continent.
As an inland waterway the Great
Lakes needed only minor improve
ments to open the entire chain to
navigation.
The improvements by the United
States and Canada at the Soo have
come, all told, to approximately $32.
000,000. Dredging the shallows
above and below Detroit and at the
head of Lake Erie ha cost approxi
mately $16,000,000. As compensa
tion there is the traffic passing the
Soo amounting to 90.000,000 tons a
year. If it saves ten cents a hundred
as compared, with the railroad haul
for nearly a thousand miles, the im-
. - . , 1. - nrt li
$180,000,000 a year. That is. the Soo ;
Canal pays for itself over ana over
again each year.
But the gain is more than the sav
ing. West Turns To Lakes.
And now that the country has out
grown its transportation system, the
west naturally turns to the Great
Lakes for its outlet to the sea and
to the world's markets. As an en
gineering proposition the problem is
simnle. From the foot of Lake Erie,
where navigation ends, across the
Niagara barrier to J-aue umano
is a drop of 326 feet. This difficulty
; -ilrMdv rvrtntiallv overcome. Can
ada has undertaken the construction
of the New Welland Canal dredged
to a"depth of twenty-five feet, with
thirty feet in the locks, ample for
Carrying the largest vesels of the
present lake fleet, with a liberal mar
gin for future development. Em
barking on this enterprise single
handed. Canada would have finished
it before this but for the war. The
work is well in hand will be com
pleted, eneineers say, within five
j ears if it was necessary to put-"1-
speed.
Below Lake Ontario there is sev
enty miles of clear sailing with am
ple channels through the Thousand
Isles, "then the rapids begin. Be
tween Galops Rapids and Montreal
there is about 40 miles of bad water
half of it in Canada, half in the in
ternational section of the iiver.
Below Montreal there is ample sea
room and channels with minimum
depth of thirty-five feet.
The undertaking now under dis
cussion is the rectification of about
45 miles of the St. Lawrence river.
It can be accomplished by canals to
parallel the river or by building
dams to drown the rapids. Govern
ment engineers, one appointed by the
United States and another by Can
ada, with instructions to wock in
concert, will submit the best
method.
The. aim is to provide transporta
tion facilities to meet the increasing
needs of the nation so that it may
continue to grow and to develop its
natural resources.
James c. rtsiar, aec.-irraa.
Married E. Lea as, Asst. Sac.
QUI
ICA2I
Cow
Barker Block
msmxi
6,000
MILES
Guarantee
msmm
Cornhusker Tires
NEBRASKA TIRE &
RUBBER CO.
3167 SPAULD1NG
Eat
Purity
Sausage
Purity Provision Co.
2424 Q St. South 2404
GASOLINE SAVER
All kinds of flayorinr extracts.
HOLCOMB FOOD CHEMICAL
PRODUCTS CO. .
913 No. 16th Tyler 49S4
PHONE TYLER Ut
WALNUT 328
Geo. A. Roberts
Grain Co.
r Receivers and Shippers
GRAIN HAY
SEEDS
Consignments a Specialty
230-31-32-33-34 Grain Exchange
Omaha, Neb.
EFFECTVE EFFICIENT
OIL A$D COMPRESSION TIGHT
GILL PISTON RING CO.,
1923 Farnam St.
;'S3 aa." "j
American State Bank
18th and Farnam
SOLICITS YOUR BANKING
BUSINESS
Phone Tyler 80
OSuUII
Whistle Bottling Co.
Tel. Web. 2131
RADIATORS
and Radiator Cores for Automobiles,
Trucks and Ti actors
- MADE AND REPAIRED
Snd your radiator by express. , Guar
anteed work, prompt service and rea
sonable charges.
OMAHA AUTO RADIATOR MFG. CO,
1819-21 Cuming St. OMAHA.
SCREENS AND CABINET
WORK
Residence Phone Walnut 4633.
Business Phone Tyler 632.
A. C. LESSARD & SON
Remodeling and Building
Contractors.
2021 Cuming St.
JOHN DEERE PLOW CO.
Agricultural Implement
, Jobbers
Sioux Fall Sidney Omaha
RALPH DeLONG
Common Brick
Yard oa C. B. it Q. R.-R.
312 KARBACH BLOCK
Tyler 4348.
MADE
in h::Z2l
OMAHA Qttffffijf
mm
u
Attention Mr. Automobile Owner
(Wa overhaul your car, rebore the cylinders, make piston and rinfi or an
parts you might need.
i P. Melchiors & Son Machine Works
41T South 13th St. .
. General Automobile, Machine and Blasksmith Repair Work.
mark iy r"'
"BUSNESS is GOOD THANK YOlf
Nicholas Gasolenes
Give
POWER
"Little Red Wagons
Grading Contractors' Equipment
TRACTORS
STROUD & CO.
Colfax 299S.
20th and Ames Ave.
KOPAC BROTHERS
Automotive and Shop Equipment
Holt Caterpillar Tractors
, Tires and Trucks -Wholesale
Branch Norfolk, Neb.
Main Office Omaha, Neb.
Norfolk David City Columbus
Schuyler, Neb. '
Not only Lumber, but MHIvrork, Hard
ware and Paint.
WE PAY THE FREIGHT.
C. Hafer Lumber
Company
135 W. Broadway V
" Council Bluffs, la.
Distributor of Quality.
ELECTRICAL
MERCHANDISE
and Supplies. '
Omaha Sioux City
"Omaha Liberty Fire
the Height of
Perfection"
"You SHARE IN THEPROFITS
while bavin PROTECTION."
OLD LINE STOCK COMPANY
Paid In Cash Capital. .$200,000
Surplus Paid in Cash.. 200,000
: Remember it cost no mora
to insure your property in
OMAHA LIBBRTY than in any
other responsible company and
you share in the profits.
Insurance against lost by fire,
lightning and tornado. Auto
mobile and hail insurance.
Home Office: 1817 Douglas St.
Phone Tyler 2621.
FAIRBANKS MORSE
& CO.
OIL ELECTRICAL
ENGINES MACHINERY
FARM ENGINES SUPPLIES
WIND MILLS
FAIRBANKS SCALES
It a m inn
The
HUGH MURPHY
Construction Co.
PAVING CONTRACTORS
D. S34. 2M Karbace Bid-.
J
T
x
Sk
ermae a) McCaaaafl Drug Co,
7