THE BEE: OMAHA.. WEDNESDAY. MAY 11. 1921.
Government Loss
On Railroads to
11 1
Exceed Estimate
illmnc in I ?nJof - Afautn.
nance Claims Not Settled
And May Be Taken
To Court.
Washington, May 10. Director
General Davis of the railroad ad
ministration, in a report submitted
today to Chairman Good of tlje
house committee on appropriations,
estimated that the operating loss to
,the government during the 26
months of federal control will be
approximately $1, 200.000.000 or $300,
000,000 more than former Director
General Hincs estimated the total
i This estimated loss applies only
in the period of federal control anil
does ,not include the payments out
of the ublic treasury on account
of the six months guaranty in force
following federal control and which
will amount to about $600,000,000.-
Claims of railroad companies filed
to date with the railroad administra
tion total $633,708,281. If the claims
of the companies which have not yet
filed are proportionately the same, it
is estimated the grand total will be
approximately $1,250,000,000.
Forty-seven roads had been settled
with up to May 1. These roads
claimed a total of $124,040,867. and
Ihe Maims were settled on the basis
of about 40 per cent of the face of the
(aims, otueials said. 1
Cif the tntal nf R6.53.708.281 claimed
to date in final settlement, $359,
000,000 represents claims for under
maintenance, $183,000,000 for under
maintenance of way and $176,000,
000 for undermaintenance of equip
ment. It is estimated that when the
carriers have all filed their claims
tbe undermaintenance will aggregate
between $700,000,000 and $800,000,
000. In the settlements already made,
it was said, but a small percentage
f undermaintenance claims have
been recognized.
Marked differences have arisen be
tween the railroad administration
tnd the carriers as to the liability of
the administration for undermain
tenance. Up to this time, it was
said, the companies which have
settled have adopted the theory of
the administration. The aggregate,
of these differences is very large,
amounting to several hundred million
dollars' and officials say it may be
necessary to carry the question to
the United States supreme court." If
the position of the railroads should
be sustained the cost to the govern
ment would be far in excess of any
of the estimates vet made, including
that of $1,200,0001000 by Mr. Davis.
Japs Send Friend of
Cabinet Members Here
Tokio, May 10. Baron Stokichi
Uriu. a classmate of Secretary of
. . T , I . I Al
War CCKS anu a tiusc iiii.iii vji
Secretary Hughes, left Tokio sudden
ly jbifoy for Washington. He said
he was going to America, on j
tte business, but is it generally ue-KTi-fA
thaf hf U eoinSVas" a soecial
representative ot tne Japanese gov
ernment to present Nipponse views
on the present unsettled situation to
President Harding. There is an un
dercurrent of opinion growing here
that a certain faction in America
is determined to irritate Japan to
the point of hostilities which Japan
is demanded to avoid short of sac
rificing her rational honor. The de
parture of Baron Uriu is regarded -:
significant by official circles.
Says 70 Per Cent of Deaths
From Cancer Preventable
Lincoln. Mav 10. (Special.) Dr.
Palmer . Findley of Omaha, told
members of the State Medical asso
ciation todav mat u per cent oi uic
100 deaths "in America from cancer
annually could have been prevented
I d. . . . I. n aqrlo t-1 1 14.
uy ircauiicui. m me mnj oicgv -
also declared tnat cancer was on uiv.
increase.
rir I M ril1(in. rhirf of the State
bureau of health, substantiated this
statement by presenting figures
showing 847 deaths in 1919 from can
cer in Nebraska, and 977 in 1920.
Fremont Man Expected to
Be Candidate for Senate
Lincoln, . May 10. (Special.) It
was reported in political circles here
today that L. D.' Richards of Fre
mont ,would soon announce his can
didacy for United States senator,
subject to republican primaries.
Evidently He Is Unlucky at Love
He:
She:
s
Lively Battle
On Naval Bill
Is Predicted
Senator Borah to Force Dis
armament Issue Despite
Opposition of Administration.
"Yes, I would much rather make love to a woman than play bridge with her."
"Then you don't mind losing."
Washington, May 10. The. $500,
000,000 naval bill may he made the
vehicle for a lively discussion of the
entire international situation when
the measures come up In the senate
Thursday.
The question of disarmament is
bound to come to a show down, de
spite President Harding's plea for a
free hand, and discussion of this is
sue, it was stated today, will al
most inevitably lead to debate of
the administration's decision to re
sume participation in European
councils along with the sidetracking,
of the Knox peace resolution.
Senator Borah of Idaho has given
notice that he will compel the senate
to toe the mark on the disarmament
issue by moving to suspend the rules
to make his amendment for a dis
armament conference in order. He
issued a statement today in reply to
the administration's contention that
the disarmament question should be
dealt with as a matter of executive
policy. He declared that it was a
primary concern of congress because
of the vast appropriation's involved.
"The Secretary of the treasury had
advised us that we cannot continue
to expend money as we are expend
ing it, that to do so means disaster,"
said Senator Borah. "He has further
advised us, as everybody - who 1ns
studied the situation knows, that
there is no way to reduce out tax
burdens except through a cut in
the army and navy appropriations.
This makes the proposition a :implc
one and particularly a matter for
congress to determine. It is the
business of congress to ma'kc appro-
Published by arrangement with life.
Turnover Sales
Tax Advocated
Senate Finance Committee
Hears Arguments at Rev
enue" Legislation Hearing.
Washington, May 10. Advadlagcs
of a 1 per cent turnover sales tax
to the government, the merchant and
the small taxpayer were set forth by
its advocates at the opening hearing
on revenue legislation today before
the senate finance committee.
The witnesses were Charles E.
Lord, New York, dry goods whole
saler and manufacturer; Hughes Sat
tcrlee, representitg the Manufactur
ers' club of Philadelphia, and A. J.
Kelly, Pittsburgh, representing the
National Association of Real Estate
Boards. ;
Mr. Lord favoted a 1 per cent
turnover tax yielding $1,500,000,000,
miscellaneous taxes yielding $1,000,
000.000 and income taxes yielding
'.500,000,000. He said that esti
v ites made on the basis of prices
prevailing a Jew months ago showed
that a . 1 per cent turnover tax
would yield about $2,000,000,000, but
that this has been scaled down to
$1,500,000,000 as a result of declining
prices.
Replying to a question by Chair
man Penrose as to the reason for
' general opposition to sales tax on
, the part of labor and agricultural or
' ganizations, Mr. Lord expressed the
belief' that opposition is chiefly from
those who do not understand it.
Discussing the operation of the
'.ales tax in other countries, Mr.
Lord said that the French s'ales tax
has not been entirely successful be
cause it has too many classifications,
but that the Canadian tax is simpler
and works better. The mpst suc
cessful sales tax, he said, is the one
in the Philippines after which the
scheme generally advocated in this
country is patterned.
Tracing the effect of a turnover
tax in the case of cotton cloth, Mr.
Lord said that he figured that the
accumulated tax on seven turnovers
between the raw cotton and the fin
ished article would amount to 12
cents on about $4 worth of cloth. t
Aged Cripple Is Murdered .
By Holdups Who Get $200
Chicago, May 10. Frank W.
Connelly, a 74-year-old cripple with
only one leg, was shot and killed
today by two holdup men who es
caped with $200 he had collected
from the sale of ice to peddlers.
The attack occurred in broad day
light while Connelly was alone on
. r
Dog Ml faragrats
i iirt.
Columbus Allsop says he don't care
how many of his wife's kinfolks come
to see them on Sunday to" spend the
day, so long as they are inclined to
do the right thing by bringing along
enough grub to run till the middle
of the coming week.
Sidney , Hocks fished all up and
down Gander creek Friday afternoon
without even getting a bite. But he
. . . . K .. t .1 , .. 1. ... .
the store on the way home and
bought a box of sardines, and no-
bodv ever knew the difference.
person has a leak in his roof there-is
not anv need ot him owning an al
manac to tell him when there is going
te. be bad weather. 1
. (Copyright, 1921, George Matlbew Adams.)
T
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HOME OF THE STEDTWAY PIANO.
the platform. He was shot down
while struggling to save his em
ployer's money.
Daughter of Powder Firm
, Head Kills Self With Gas
Chicago, May 10. Miss Marie
Hawley, whose father is. vice presi
dent of the ." General Explosives
Fowder company, killed herself
with gas Saturday as the result of
acute melancholia, a coroner's jury
decided today.' She was found dead
in the kitchen of her home. Miss
Hawley, who was 28 years old was
graduated from Washington uni
vetsity, St- Louis.
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COMPARE
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ALWAYS
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prialions and if taxes are reduced
they must be reduced tlirough the
action of congress.
"Any suggestion, or any plan.
which looks to the curtailment of
appropriations is legitimately within
the jurisdiction of congress and
within the jurisdiction of other de
partments of the government. The
fact that the plan, or suggestion,
may incidentally touch our relation
ship with other nations should not
be taken as prohibitive of congress'
action. We have no intention what
ever of interfering with the executive
authority. We simply propose to
urge the only plan by which it is
possible for congress to reduce these
fearful burdens which are now ruin
ing the people of this country."
Helena, Mont., Postmaster
Held for Emhezzlcmeut
Helena, May 10. C. H. Fortman,
postmaster of Helena, was arrested
late Monday on a charge filed by a
postoflice inspector. He gave bond
in the sum of ?.',000 and will be ar
raigned before a United States com
missioner here tomorrow. ;
The information laid against Fort- I
man involves live war- savings cer- j
tilicatcs which the postmaster is said
to have appropriated to his owiuse. ;
Mr, Fortman, who was reappointed j
to a second, term a year ago by Prcs-
ident Wilson, is a prominent demo- i
crat and a pioneer. He made no j
statement. 1
Two Gold Prospectors
Lose Fortune as They
Throw Away Osmiridium
London. May 10. Alt that Rliitevs
is not gold, but lack ot glitter is not
a certain test 'for worthlessncss it
was found by gold diggers along
the river in Papua, British New
Guinea, recently.
While prospecting the men en
countered a bluish-gray, flakish sub
stance, which they cast aside a
worthless. Two weeks ago, two and
one-half pounds of this substance
was bought in the city by an Amer
ican firm for approximately $0,000 or
eight times the value of the same
amount of gold.
It was osmiridium, a member of
the platinum group of metals, one ot
the hardest metals known and used
(or the tipping of fountain pens and
for delicate bearings of machinery. "
Reds Defeated in Batilc
With Peasants Is Report
Copenhagen, May 10. Russian
newspapers have, published a wire
less dispatch to the bolshevik genera!
staff reporting that soviet troops have
suffered a defeat of sonic conse
quences during fighting against re
bellious Siberian peasant armies, says
a Hclsingfors special rccrived here.
NATIONAL PARKS
America's National Parks and Monuments
belong to you. The United States owns and
maintainnthem m their massive, natural beauty
and invites you to use them as your vacation
land for rest and recreation and recuperation.
Ton Sinf America, Why Not SEE II?
Rockv Mountain National Park, a scenic wonderland
without equal, and Mesa Verde National Park, the Cliff
Dwellines in Ancient America, are in Colorado. Plan
your vacation to visit these two National Parks this year.
Denver, the gateway to 12 National Parks and 32 National
Monuments, has a wonderful mountain park system and a
FREE AUTO CAMP for motor travelers with free individual
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Write for FREE VACATION BOOKLET
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Denver has 252 hotels and over 400 mountain resorts at prices to fit
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DENVER TOURIST BUREAU. 558i7tk St", DENVER, COLO.i
BANK STATEMENT.
Charter Ho. 27T6
Reserve District No. 10
REPORT OF CONDITION OF THE
MERCHANTS NATIONAL BANK
AT OMAHA. IN THE STATE OF NEBRASKA. AT THE CLOSE OF BUSINESS
ON APRIL 28, 1921.
discounts including
with Fed
RESOURCES
rediscounts
.$1.74?.S48.7
other
. .... 75,000.00
Loans and
Deduct:
Notes and bills rediseounted
eral Reserve Bank :...,
Notts and bills tediscounted with
than Federal Reserve Bank
Overdrafts unsecured ..............
U. S. Government Securities Owned: '
Deposited to secure circulation
All ether V. S. Government Securities...
Other Bonds, Stocks, Securities, etc
Banktntt House ,
Real Estate owned other than banking; house
Cash in vault ,
Lawful reserve with Federal Reserve Bank
Items with Federal in process of collection
Net amounts due from national banks
Net amounts due from banks'; bankers and trust com
panies in the U. S
Exchange for clearing house
Checks on outside banks and other cash items.
Redemption fnnd with U. S. Treasurer and due from U. S
Treasurer . . ,
. .$10,435,797.98
1,818,343.70 8,6IX,449.1!S
21.S00.86
80,000.00
, 483,808.71
1,215,668 89
720,040.61
839.675.fS
168.142.63
60,620.77
533,808.71
U3.699.1 !
100.00O.0lt
6,000.00
!,500.00 3,701,660.12
Total
13,145.208.09
LIABILITIES
Capital stock paid in ,
Surplus fund ? ,
Undivided Profits
Less current expenses, interest and taxes paid.
Circulating notes outstanding '.
Net amounts due to national banks
Net amounts due state banks, bankers and trust Co..,
Certified checks outstanding
Cashier's checks on own bank outstaading
Demand Deposits:
Individual deposits subject t check ;..
C. of D's. due in less than-30 days
Dividends unpaid
Tim Deposit:
Other time deposits j , ,
Postal savings deposits
$ 1
549,982.63
42.266.9G-
1,209,308.86 .
1,265,442.61
251,811.94
?,723.16
7,479.098. OR
110,000.00
374.00
369,761.13
10,022.84
,000,000.00
600,000.00
607,725.57
60.jl00.00
Bill payable with Federal Reserve Bank.
10,769.632. 5;r
327,9(0.00
13,146,208.09
Total .,
State of .Nebraska, County of Douglas ss:
I, S. S. Kent, Cashier of the above-named bank, do solemnly swear that the
above statement is true to the best of my knowledge and belief.
s - S. S. KENT. Cashier.
Correct Attest:
' O. SAM ROGERS.
i - FRED G. HAMILTON,
B. H. MEILE, Directors.
Subscribed and sworn before me this 9th dav of May, 1921.
(SEAL) , CHARLES FIXA, Notary Public.
aimiiiuimiuHiiniiitt
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