THE liEE: OMAHA, SATUKIMI. m.a.u 21. 1922.
Joint Commission
Attacks Policy of
Reserve Hoard
tr port of Agricultural Inquiry
Kfrommrnilti ?tej Be
Tkf ii to PurnM. Crnlit
for 1'iiniicri.
Washington. Jn. 'Jfl . Cr'iiiim of
the rrdrrsj Krrte IkiWs
during the months folio inif ilic
armistice l roiiiiltu Willi rr-m-
itieinMions that existinc ImiiImi.
asfneies he !4'tcl to mret trethi
rrquirrtnmti of mrmrrs in a rewt
submitted to cotignss t.xUv tv the
joint commission of agricultural in
quiry. The report, the sreond of a srrirs
front the rnniniissinii. tkU with
funking and finanrul rrsourcrs of
the country, especially as attrctiDg
agricultural jntrrr.n. It strcM the
iinportanre of filling the Itau between
short and long-time credit, ami rott
ludrs that the 'presrnt gap" can
be "effectively ami safely bridged
v. itliout establishing any new or un
tried machinery ami without sarri
icing any of the fundamental prin
ciple on which both the farm loan
system and the federal reserve Sys
tem must rest."
Review of Conditions.
Reviewing condition that have
confronted farmers since the war,
the report declares:
"It is the opinion of the commis
sion that a policy of restriction of
loans and discounts by advances in
the discount rate of the federal re
serve banks could and should have
been adopted early in 1919. notwith
funding the difticulty which the
Treasury department anticipated in
floating the victory loan if such. a
policy vvere adopted.
"It it also the opinio;, of the com
mission that bad this policy been
adopted, much of the expansion,
f.iecu!ation and extravagance which
characterized the .postwar period
could have been avoided.
."The commission also believes
that bad such a policy been adopted
tlie difficulties, hardships and losses
which occurred in 1920-21 as a re
sult of deflation and liquidation
would have been diminished,
. Urge Farm Credits.
'The report summarizes the com
mission's recommendations as to bet
ter credit facilities for agricultural
interests thus:
"The commission believes that the
cred.it problem of the farmer can
best be met by adapting existing
banking agencies to his credit re
quirements. In meeting these re
quirements there is no reason why
all banking agencies cannot be used
by adapting them to the farmers'
requirements. These requirements
are for credit of sufficient maturity
10 make payment possible out of the
proceeds of the farm. This means
a credit running from six months to
three years.
."The commission proposes to meet
these requirements by authorizing
atfy federal land bank, through a sep
arate department created in it under
restrictions, limitations, conditions
and regulations adopted by the farm
loan board, to rediscount paper on
which money has been advanced to,
or used by the farmer for agricultur
al purposes, having a maturity of not
less than six months or more' than
three years at rates of discount to be
fixed by the farm loan board for any
national bank, state bank, trust com
pany, savings institution, or live
stock loan company. In addition,
the commission deems it desirable to
liermiti the federal land banks to
make loans direct to co-operative as
sociations of farmers organized un
der state laws for the purpose of
marketing staple agricultural prod
ucts when such loans are secured
oy warehouse receipts on such prod
ucts. ' i ' ' '- "
.""The notes or obligations repre-
Ohio's Oldest Woman
Doesn t Need Glasses
mi jj
Ohm's oldest woman. Mrs. Eliza
beth Stephens of Cincinnati, recent-
Iv celebrated her IWih utrtnuay.
She does not bclirve in unlucky Us
and other superstitions, but sticks
firmly to the teachings of her well-
worn Iiilile. wliicli she read daily
without the aid of ijlasscs. She in
sisls also upon making her own bed
and cats regularly with other mem-
rrs of the Umtlv. She rac to
Cincinnati "7 years ago. . iloating
down the Ohio river, with her par
ents, via a crude houseboat.
seining loans 'or discounts by the
federal land banks are to be con
verted into short time debentures and
sold to the public as farm loan bonds
arc sold.
"1c is proposed that , notes be
taken or rcdiscountcd by a federal
land bank when such loans have
reached a maturity of less than six
months. In addition, any federal
reserve bank is authorized to buy and
sell the debentures issued by the
larm loan board as they now buy
and sell farm loan. bonds."
A minority opinion by Representa
tive Mills, republican. New York,
was affixed to the report stating
that he concurred in the report with
one exception,
I cannoto agree, lie said, with
the statement that late in 1920 a
change in the policy of the federal
reserve banks m rctcrencc to dis
count rates, would have accom
plished a reversal, in part, of the
psychological and economical factors
which at this time were moving in
the direction of lower prices. Such
a suggestion is out of harmony with
the balance of the report and incon
sistent with the facts brought out by
our investigation."
Only indifferent results have at
tended efforts to cultivate tobacco
in Scotland, although the soil and
climate seem suitable.
nITAMINES"
are an essential factor in
promoting healthful growth
Scott's Emulsion
is far richer in the fat '
soluble A vitamine
than cream. It aids
growth-builds health .'
- AT ALL DRUO (TORES
PRICE. 91.20 and SOc
Scott ft BawM. BtoomfiaM. N. J.
ALIO MAKERS OF
ItltlOIDS
(Tablets or Granules)
"INDIGESTION
21-10sfc
BERG'S
Annual Clearance Sale
Our Entire Stock of Suits and Over
coats Marked Down, Some as Much as
HALF-PRICE
. "...
Suit s and Overcoats
Formerly
Sold From
$30 to$75nOw$1250 to $41
MEN'S FURNISHINGS
MANHATTAN
. SHIRT SALE
$2.50 Shirt. ......... $1.65
$3.00 Shirt. ..$1.95
$3.50 Shirt. .........$2.35
$4.00 Shirts ........ .$2.65
$4.50 Shirt. $2.95
$5.00 Shirt. $3.35
;$6.00 Shirt. ..$3.85
$7.00 Shirt. ...$4.65
FANCY MADRAS
SHIRT SALE
$44.50 Shirts ..$3.15
$3.50-$3.75 Shirts, $2.55
$3.00 Shirts ... . .$2.05
$1.5O-$2.0O Shirts, $1.15
Silk and Wool
Mufflers
y4 OFF
Vassar arid
Superior
Underwear,
Va OFF
' Flannelette
' Pajamas and
Night Gowns,
V4OFF
Neckwear Sale
$3.00 Neckwear . . $2.15
$2.50 Neckwear . .$1.75
$2.00 Neckwear . .$1.25
$1.50 Neckwear . .$1.05
$1.00 Neckwear . . -75
25 OFF
ON ANY
HAT OR CAP
In bur Regular Stock.
Letters Read in
Stillnum Case
lulrtue I.oe Expressed in
.Message Alleged to Have
Urfii Writffn Jy Indian
Guide,
New York. Jan. 20. Statement
llul Mr. Anne I'. Milluiaii had
never denied ur hutand's conten
tion that IU!) luy Stillmati if ille
gitimate were made today before the
appellate division of the supreme
court in I5roklyii by former Presid
ing Jimticf I. A. Jcnks, counsel (or
James A. Jsitillman in his suit for di
vorce. Air. Jetiks, arguing for appeal
against an order directing Mr. Mill
nt4ti to pay his wife $7,500 costs for
hearing in Canada, declared the
bunker had paid her $ I. '-',0(10 during
the last tune month.
'The plaiutilf in his complaint al
leges that Mr. Stiltnian lived- con
timionly with Fred Heauvais. Indian
fciiidc, in violation cf hrr marriage
vows. She says 'these charges 1
deny."' Mr. Jcnks said. "There is
notliintr to show that the denies the
possibility that f he may have mis
conducted herself with lUauvais one
or more times." 1
Sealed Letter.
Mr. Jcnks referred to letters al
leged to have been written to Mrs.
.Stillman by Ikauvais. One of these
lrttcrs. scaled by Supreme Court
Justice Morschauscr, was read to the
court. J lie letter, dated May lu,
1919. follows:
Mr. dearest honey.
"Thank you so much for your nice
lung letter su telegram. You don't
know how much it cheered me, I
don't know hat happened to me but
I ws sick up ta yesterday, not very,
but fever md heavy headaches."
Here the letter referred to the
writer's insomnia and more intimate
matters.
"Yes dear," it continued. "I am
very lonely for you and mis you
very much; it's just like if there
were no more lights in the world
for me."
"Cruel Some Times."
"In your letter you say I was
cruel to you some times, dear. Ye,
I know I am bad and mean to you,
but it always makes me want to love
you more sftcrward.. Oh, but it
eems ages and aitcs une 1 ve
seen you but it will seem ;ut as
long to me before I will be nblc to
take and hold you in my amis an I
give you a nice liuu.
"Jf anyone tries to make love to
you down there and I find it out, I
will kill them sure because you're
11 mine and t'uys. or rathrr 1 am
all yours and Guy's to the end.
With lots and lots of love to the
great beyond."
Another letter dated May 21 was
rem. jn part it saiu:
"Let me know if you find it very
lonely out in the country and how
you are fixed and if Mr. S. comes
out often. Have you spoken to him
about your dream mat you bad up
here and most of atl about yourself
and dear Guy?
' You may think I am Toolum
when I say that some day I am go
ing to kidnap him and bring hint tip
here. I'll first get you here and then
I II bnnsr uuv. Oh. then what a
nice little family it will be all sun
shine and love just what I've al
ways been dreaming of and hopiiiR
for, and whatt you have . too and
hope we have it soon together, honey
dear, love.
J he letter concluded:
"With all my love to you and Guy
, . tli'e are kUsrt for you both
"Goodbye dear for a little while,
ours ever and fer,
"Fred."
A note purporiimr to have been
written to lleauvis by Mrs. .Miilnian
and marked as an exhibit In the c
alio was read. It said:
"Dear, dear J'reddiej Guy looU
like a dream today pink cheeks, ad
dark eyes and so happy, lie sends
you his piece of rake with its one
camlle and his Me,
This note, allrced to have M
lowed a birthday party fur Guy and
H.e two letters am united to ieauva
were filed in the cae several months
jko, sealed and locked in the county
clerk's Mhce at C'arinel. N. Y., whee
Mr. Millm.ni betait his divorce su.t
in July, IV.'O,
They were unsealed became fie
c.ise went ta a hiuher court cm Mr
i'tillmnn's appeal from the $7,5iO cx
pcnc order, . ,
Attorney Charges Sheriff
Used Third Degree
Lincoln, Jan. 20. (Special Tele,
gram.) That third decree method
were Used by the state sheriff and
other officers in ohtainini; a con.
fession from James 1J, King, negro
convict under death sentence fur
stabbing to death Kobrrt R. Talr,
a prison guard, was chared before
the supreme court in argument by
K. 1 Stout, King's attorney, on an
appeal from the verdict of death civ
en in Lancaster county, l'hysica!
violence also was charged by Stout
as having been used to obtain a
statement.
Octopus in Museum.
Vermillion, S. P., Jan. 20. The
tt a t fim vitrei ftr Isi nri AptAitite
Sfttatu ""in kn T Mil (S ' vVIW'Ui
not. a live one but a mounted speci
men of this curious sea animal, re-
rpnttv ftonf frrmi California th
museum. It is the only specimen
in the northwest. . - . .
Bank Guaranty
Ixiw Changes Are
Still Discussed
(Sisvsswm
Acl iuii of Hauler in Omaha
.May Not Settle Question
IMl icht l.mmu If Hill
U Presented.
Lincoln. Jan. 20. (Special. )
Speculatitiii i rue here at ta whrihrr
action of Nebraska bankers at Onu
I14 in refusing to sanction clianurs
111 the state guaranty law mraiis that
this question, agitated for months,
will be put entirely into the discard
at the special session.
sue lornui can issuea vy viver-
tier McKvuie lit advance 01 in?
Omalu meeting o)encd up the bank
guaranty ueuou and any lull on
that subject may be introduced urn
ter the law.
At that time and f r months prior
bankers and politicians were de
manding changes in the banking
laws and persistently called on the
governor to do something to remedy
the condition.
Change In Front
This the governor did and then
came the sudden change in front on
the part of a majority of rcprocn
Utiie bankers at the Omaha meeting
and the strange . stillness of polni
cians heretofore demanding introduc
lion ot a plan that would enable the
state to advance money to a bank in
hard circumstances iu order to avert
failures.
So far as ostensible organized or
political movements lor a change in
the law is concerned they have
ceased to exist Yet. there are a
number tf IrsUlator, bankm. '"'X
ho bad bills Utt year to remedy
the guaumy law and found Ihrm
dead in fotiiiitttit room when the
tegular session ended.
One ot thee at I win of Cedar
Pt the uer house, who 011 the to si
day for introduction of lolls intro-
iliiced a bill, the exact replies of il's
Son Hi Uaktitj plan, under which
banks in that stale fa.ing applet)
nutly the same condition as .e
I14.I4 banking iitstiliiiuuts have
uiihstood the is inter without a failure.
Lynn Favors Chance,
lime weeks ago when I viot was
ii Lincoln be still believed lus fel
low member ovci looked an oppor
tunity lo auii in a 11 v of 1 lie bank
(ailiiirt this winter bv refusal to
sanction his outh flakou bank
HI.
Whether Lynn and other with Ins
(mictions will bow to the will of
the representative bankers at the
Omaha meeting and will rrdi.e to
open up such a lotnhv subject at
this time is prolilemsiitaf, If they
do it pioitiisr to tout It a ii,tili ,t
a ooliiksl d)iiamite lactnry whicli
will blow the state aliuiuiiratiou'k
plan for a short, swett srwn up yt
the air,
Meantime, attorneys in the ofl'ue
of Altorncy l.eneist t-Urrnce A.
I laws are drafting a fcM.wlinc tan
law. As generally ndn.tood Ml
state hous circles it i the inten
tion of the administration to olace
responsibility l"r psvmet.t of the tat
on gasoline wholesalers. It is be
lieved bttle or no extra help will be
meded as there are gasoline inspec
tors 011 the oat roll now who can
oversea the returns of gasoline con
sumed and the olhre iotce of W. It
t,!,.irne. state l co-iuiiissluner,
orobably la larne cnoogli at the pres
ent tune to collect the tax.
SMlriy WwmM tm Mm, H..ll.
New Vis, V'1 .' Sl0 bunai.4
i.,.iiimi i lin junior i-pii. win
nil m Ml i .! ip I.. rntruy
Krl.ru. i ob'H lli-y out l"S ssr
IU flit llnf.l tl'.tf I. in out
u,, r. k'.J luit II l"f lias,,
Enormous Clearance
0
In Two Great Groups:
Goats
22
and
38
The Eldredge-Reynolds policy of truthful 'advertising accents the importance of
the statements we are making about this extraordinary sale, .
The garments in the sale are all from our own good stock and are up to the stand
ard of quality and style that are synonymous with the name of Eldredge-Reynolds.
Included are plain tailored 5s well as handsome fur trimmed coats. Made of. the sea
son's most desirable materials and shades. On sale Saturday at less than 12 price.
With the cold weather just starting and several months more coat weather ahead,
women who have not yet needed a heavy coat will want to take this opportunity of
securing one at a great saving. v - f
The bargains are herecome tomorrow and take advantage of them
The Sale Is Saturday
Doors Open at .9 A. M.
Eldredge-Reynolds Co.
Hie Store of Specialty Shops.
S f
Drastic Price
Reductions
On account of our retiring from the
men's and boys' clothing and fur
nishing business.
Men's Fine Quality
Overcoats
$20
Values up to $55
!
COATS that you will be proud to wear, made is
up-to-date stylos, popular materials in the sea
son's favored colors.
To get an overcoat of the same quality as these at
such a low price is like finding it. Come tomorrow
morning at 9 o'clock and get a new overcoat.
Our Entire Stock of Men's
Suits at xk Price
NO AIATTER 'what the former price" was
it has been cut in half in order that all
stock may be disposed of at once. A chance
to make your dollars do twice as much work.
Boys' Winter
Overcoats
$95
GF THE best quality materialin styles just like
Dad's. ',: ;"
They are well made and marked at a price that is
below actual cost to us. ' , ' V
Remember the sale is for Saturday and wc cannot
promise that they will last the day out so come
early. - ..' ; ;:: .,
Extraordinary Savings in
Men's Furnishings
Arrow, Earl & Wilson laundered cot
lars. Prices like old times,
75c Neckwear Spring shapes,
all silk, at,
Extra special, muslin night
robes, at
Plain aud satin striped
handkerchiefs, at
Men's silk and wool hose, $1.50
grade, at
At Y2 Price
Winter caps, with ear laps or turban
. ; styles.
Outing flannel robes.
All leather and lined gloves.
All fine madras shirts, full dress or tuxedo.
Sweaters or jersey jackets.
All winter union suits.
AH knit or silk mufflers.
i.
dS rr
.OOe.imu
nation
it
ro;i-''
fro-
2fr25c
2' $1.00
$1.15
8 "$1.00
$1.05
r
I
1
A
I
A
i
1415 Farnam St.
