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iOND! STOCKS ÄND BONDSOFFERCHANCES TO MAKE MONEY DURING COMING YEAR, SAYS BÂBS0N AVcllesley Hills, Mass., Dec. 80.— * What's going to tappen in 1923?'* That question is uppermost in the minds of 1,000,000 Americnn business men and investors who are facing the problem of making plans for the new yen r. Kigns are not clear and the usual barometers aaorn to contradict oae another. In the face of this general confus ion we hod best fall back on the facts find figures. After a thorough study of the fundamental conditions that govern our market, Roger W. Bab son has issued a statement which Hears the air and furnishes a basis of fact for our plans. "We are now at a point in the busi ness cycte," says Mr. Iîabson, "where you can get almost as many different opinions as there are business men. Some are very bullish for the coming year, and others cannot see much hope for business. The reason for such a situation is that we are at present neither at the top of a boom nor at the depth of a depression. If we were at either of these exteremes there would be no question of what the next SI M MO KM ate m LD 3.80 4.20 460 5 00 it 540 LONG SWING BOND CYCLE 580 - rSV P resent B ond M arket 6.20 an move would be . As it is. we are about half way between them. "During the past, year United States business has steadily advanced until the average for the whole coun try is what we usaully call "normal" business. Having advanced thus far, shall we immediately continue into n great prosperity period or shall we go into another period of depression find poor business as some predict? "If you will only remember the five years preceding 1021 and recall what an enormous orgy of expansion ex isted, you can see for yourself that it will take some time to get « proper foundation for really good business. We danced during those years, and now REDUCTION IN GOLD STOCK AND INCREASED IMPORTS TEND TO BALANCE MARKET, SAYS SELLERS By BYRON SELLER SrwiaJ OorrwuorKlent of Thr Tribun« < r>t>yii4fct.. 1922, by The Great Fall» Tribu«« New York. Dec. 30.—The secretary of commerce is credited with two siatements this week, both of which have a vital bearing on the future of the securities market and of the busi ness outlook. First, was the expres sion of opinion that the time will shortly be at hand when the enormous stock of gold held in this country will begin to be diminished by exports. The other was the statement that, sta tistics covering imports for October and November will show an increase in such imports, the new tariff law not withstanding. As to the first of these matters, it has long been held by some economic experts that our surplus of gold con stituted a positive menace in its threat of inflation. A good deal of the rise in speculative securities during the past year was ascribed by these economists to our abundant money supply. If so and Secretary Hoover's prediction is verified, that danger will tie revived, but the removal will take with it. one of the causes for the advance in the price of both securi ties and commodities. As to the fjecond matter, the belief ha*: been freely expressed that under our new tariff, foreign trade could not prosper. Mr. Hoover is of course in the position to know the facts and theories are of no importance when they conflict with facts. influence Uncertain How far speculators and investors fire influenced by considerations of thiR kind is uncertain. It is fact, how •ver, that there has been no sign of nny large advance in the price of high grade securities this week. Even l iberty bonds, which have been very slowly rising for a considerable period, wavered on some days of the week. The same was t*ue to a greater or less degree of all securities, prices of which are responsive only to money market and fundamental conditions. Investors simply desirous of buying in for income were willing to pay the market quotations, but they did not rush to bid up the price. Financial institutions which are al ways large buyers of high grade securi ties supplied their needs only when price and quality met their ideas of reasonableness. Perhaps the situation could be best described by saying that, both, buyers and sellers were confident of a fair degree of stability in the marlift for prime securities. There is of course another impor tant factor affecting even the surplus investment issues, namely the busi ness situation. A long period of good tratle results in the accumulation of profits available for investment. This process, however, is a very slow one and long before it begiai to operate on we must 'pay the fiddler* his complete bill. Business has really been like a convalescing patient. Everything will go well with the patient if he does not try to get out of bed too soon. If he tries to overdo he will have a relapse. We now have passed the most painful part of the readjustment. The crisis is over, but. a process of cost reduc tion and re-balancing is necessary." Prioa Spread Is Wide "Today a wid disparity exists be tween prices of different commodities, and particularly the spread between producers' and consumers' goods. This is a brake on trade. One half of the people cannot earn enough to buy the goods that the other half has to sell. There are one hundred and six mil lion people in the United States and fifty per cent of them get their living from producing or distributing raw materials. It has thus far been im possible to reduce the prices of fin ished consumers' goods to meet the cuts on these raw materials. The pur chasing power of these people is out of its natural proportion. "It is not entirely a matter of re ducing wages, although labor costs are a large factor, nor is it entirely a mat ter of inefficient management. No. the problem of high costs Is not a prob lem of ."v^- one element; and readjust ments can come in only one way— drastic competition. All this will take further time. "Does this mean that there will be no opportunities in 1023? Not a bit! There will be just as many chances to make money as in any year you ever lived. It will be possible for you to make as much during the next twelve months Bs in any year of your business life, but it. will not. be along the lines which made money in 1010 and 1020, nor in any other boom year. The profits in 1923 will come by giving attention to details, by stopping the investments it shows itself in the speculative r~sfkef. This brings us to consideration of the general business outlook. Here the situation is not. greatly different from that prevailing a week ago. The European problem is still unsolved. The best that, can be said is that the part of America should be a discon tinuance of the constant discussion in and out, of congress on the foreign debt question. Revive Reparations in Paris the entire reparations question is to be reviewed at the con ference of allied premiers next week. No one is greatly concerned over the faces the Turks make at Lausanne. Even the announcement, of the dis patch of the British fleet to the Dar danelles was received by the markets with indifference. It will be quite another story when any real progress is made toward the improvement of European economic conditions, wheth er that improvement is made with or without the aid of the United »States. At home the railroads still have their troubles. Chairman Reed of the Kansas public utilities committee com plains that the Atchison spends too much money for maintenance and Sen ator Johnson of California wants rail roads prohibited from declaring divi dends unless they have speat. enough money for maintenance, although it is equipment on which Mr. Johnson lays stress. It. is certainly hard to please everybody. Meanwhile, earnings for November generally müde a better showing than those of th^monih before and freight loadings are the heaviest on record for this time of the year. Probably aside from the purely political attacks on the railroads, their most serious difficulty is in their inability or un willingness to compose their difference with their employee. This, of course, does not apply to all railroad executives, but some of them still seem to feel that nothing is so important as to break the powerful functions. As to the right or wrong of this, rail chiefs have no opinion to express, but the effect on earnings is not encouraging to stockholders. Aside from the foreign and the trou bles of the railroads all indications are still for industrial activity and reason able profits for well manuged indus tries. The automobile trade looks for ward to a great season and as a pre liminary of the automobile show, prices of motor stocks have been marked up. It must be admitted that incomes statements and balance sheets in most cases justify the advance. Talk about f he automobile industry having reached the saturation point is not heard Tery often ji*st now. Steel business is very good. There lifts been a further rise in commodity prices, particularly of copper. Sugar people look forward to « prosperous year and even the rubber and tire folks are not without hope. All things considered there is no reason to be anyih'nj; bur very cheerful. little leaks, by saving here and there through new labor- saving inventions, and most of all, by devising new and more economical means of distributing goods. This was not at all the situa tion during the business boom. Then the man who stopped to prevent small leaks found himself caught by the momentous rise in prices and changes in general conditions. "Those days have passed. They were wild and merry while they lasted. Now business has come back to earth. In most industries, an excessive pro ducing capacity was created. During the boom, overhead costs were in creased to keep up with an abnor mal turnover. Today the amount of business has dropped back more nearly to normal, but costs have not been proportionately reduced. Higher wages, higher rents, more expensive sales or ganization—in fact, nearly every item of expense is out of proportion with the amount of business done. "Instead of wild gyrations in the commodity markets, the average trend throughout the coming year should be more of a sidewise movement. Some commodities are high and others are very low. but, the majority at pres ent. are about. 15 per cent above their levels a year ago. A year from now we shall probably find them averaging at about the same level they stand to day. In between, there may be a i further rally from the low of 1922. and ! agricultural products certainly should do better." Earnings Will Be Higher ■'Earnings," continued Mr. Uabson, "should average somewhat better than in the year just passed, A survey of 100 leading industrial companies, re cently made by my organization, show ed that in 3019, 06 per cent of these companies made a net profit, while only 4 per cent a deficit. In 1921, the number of firms which could show a profit was cut down to 48 per cent. Over half, or 52 per cent of these in dustrial concerns lost money on their year's business, 1022 has witnessed a change from red ink figures into black ink figures, but the amount of net profits will not be large when the books are finally balanced. We are just getting back onto the right side of the ledger. "The shortage of labor is one of the . worst features of the 11023 outook. The j moment that business works up to (average activity it becomes impossible to get sufficient workers. This raises costs and in turn increases commodity prices and the cost of living. The im migration law is largely the cause of this shortage. This law restricts the number of immigrants in n single year to 3 per cent of the total number of respective nationalities already in the United States. Before the war we had an addition of a million immigrants a year. Now we are receiving less than 300,000 and at. least 60 per cent of these are women, children or other dependents. On the other hand. I doubt if the epenl of this 3 per cent immigration law is the proper solution of fhe present labor shortage. "The real solution is not the re peal of the present immigration law but rather the repela of the contract InUor law for as long a period as the 3 per cent remains in force. This would make it possible for employers to promise selected foreign workers employment before leaving their own homes. The moment that the immi but rather the repeal of the contract labor law can again he applied. "There should be no great difficulty in getting ample supplies of bitumin ous coal this winter. The car short age is diminishing somewhat. Ample supplies of bituminous coal are being produced, suggesting lower prices. The mischief of this situation lies In the fact that it will again be to the ad vantage of both miners and operators to close the mines for a time. The difficulties which brought on the strike last year have not been settled. There is serious danger of another strike in the soft, coal fields. Political Situation "Everybody is worrying about the political situation. There is talk of r^ical legislation during the coining y Ar. Most of this is merely the echo from campaign speeches. It may be a noisy year. Both the conservatives and the radicals have a veto power, but neither is strong enough to pufch through any extreme measures of its own. The only kind of legislation that will really be enacted is that which will appeal to members of both groups. Already the federal reserve bourd has' issued a ruling, admitting a large amount of agricultural paper for re discount in the federal reserve banks. The Muscle Shoals problem will pro bably be settled, either by sale to Henry Ford or by development on the part of the government itself. Tin Soldier's Bonus will probably he enac ed. although no agreement as to tl. •> terms or means of raising the money ihas yet. been made. It is improbable that there will be any increase in the amount of business taxes. "The political aspect has frightened many stockholders, but it is entirely too early to be worried. The thing to watch is fundamental conditions. We are still in a readjustment period. This means that sooner or later we shall work toward better prosperity. It is true that industrial stocks are touch higher than a year ago and are certainly not the bargains that they were. However, as I have already stated, certain lines of industry are just getting ready to go forward. The industrial market will be 'spotty' but there are a great many issues thai Should do better in the coming year "The rail group is, relatively, not so far advanced as the industrials. I do not believe rails should be bought iu discriminately, but the rail avera.^ will follow up the general marker. I am much more attracted to the long haul roads than to the shorter lines. The motor druck is a feeder for the former but a competitor of the lat ter. Copper stocks have really nor started yet, but the statistical position of the metal is far better than it: has been for a long time. Coppers, cer tainly, are selling at bargain levels. Money Conditions "Money conditions should continue good. There is no question that the banks are in a strong position. The federal reserve banks to day have re serves equal to about 76 per cent of their note and deposit liabilities. The reserve requirements «is between 35 per cent and 40 per cent. It is true, that when foreign countries begin to get on their feet, it will be necessary to send much of this gold back. For the present, however, this gold repre sents the basis on which u consider able expansion of credit can be built. It guarantees to us a relatively easy money rate, until heavy gold exports are resumed. ' During the coming year, borrowers need have little fear of a lack of funds for all legtimate pur poses, and this also applies to long term money, that is, capital for per manent investment. Mortgage rates during 1923 should work lower. To day, the average rate of real estate mortgages throughout the I'nited States Is between 6 per cent and 7 per cent. The time is not far away when this average will stand between 5 per cent and 6 per cent. "Of course, the efise of the money market is distinctly favorable to long time bonds. There is a point in the business cycle when industry becomes so active that money is absorbed by trade. When this occurs bonds are sold and developed a downward ten dency. This point in the cycle has not yet appeared. Moreover. history shows that following the Civil war bond prices, barring tempoï-ar.v fluctu ations rose for n long period of years, the advance culminating about 1900. From this point, a descent was grad ually made to a low point at the end of the European war. Since this low point, history is repeating itself, bonds having reached a middte ground, but still far below the 3.80 or 4 per cent basis of fhe 1900 period. All these factors suggest, that well selected bonds, both municipal anî corpora tion. are a diBtinet purchase. "Bonds and money," concluded Mr. Babson. "are certainly sound factors in the situation. As for business as a whole, there is no doubt that it. will average better this coming year than it did in 1022. This does not mean that there will be any boom, but that there will be plenty of money-making opportuutiies for those who know 'fundamental conditions." General business according to the index of the Babsonchart stands at only 2 per cent below normal, the same os a week ago. <S> LIVESTOCK ! <*>——•—— AT SIOUX CITY Sioux City, D«c. 80.—Cattle receipts 600; market compared with week ago: Fed steers and yearlings steady: 25 cents higher: fat cows and heifers strong to 25 cents higher; canners steady; veals 50 cents higher: top $10; feeders 25 cents higher; top $7; calves 25 cents higher; bulls strong; feeding cows and heifers steady; stockers 25 cents higher. Hogs receipts 5.000; strong, 10 cents higher: butchers f8.054(8.15: top J8.15; mixed $7.75@8; packers $firstname.lastname@example.org; bulk $7.90 (§8.10 Sheep receipts 300; market compared to week ago: Lambs steady: top $14.50; ewes 25 cents higher; topp $7.75. AT DENVER Denver, Dec. 80.—Cattle receipts 537: market steady; beef steers $4.50(ff8.60: co wb and heifers $3.50<?i 7.75: calves $5® 9.50: stockers and feeders $3.50'S'7.n0. Hogs receipts none: market steady; top $8.75; bulk Î86S.25. Sheep receipts 618: market steady: lambs $12.50014; ewes $6@7; feeder lambs $12@14. NEW YORK BONDS New York. Dec. SO.—Following are Saturday's high, low and closing prices of bonds on the New York Stock Ex change and the total sales of each bond _____ !HIgh- kow !Closel Sales t)om. of Canada i ! I I notes 1929 :i0t^ilom!l0is!$51000 Frenoh Rep. 8s.. J 9SVi j 98 i 98*4 i 17000 French Rep. 7Hs.i 94%! 94%' 94'il 31000 K of Belgium 7Ws 10!% 101«* 101 a*. ROOO K o* Belgium Ss..! 97%i 97%! 97%! 8000 K of Norway 8s. .'U2H 1112^112%i 4000 V. K. of G. B. : ! ! & I. 5't* 1929.. 113%>113% 1113% 1147000 V. K. of G. B. ! ! f I & I. GHs 1937..'103%:i03%'103%; 42000 Amer. Sugar 6s.. 104 103V4il04 , 7000 Am T&T col.tr. 5si 98%: 98HI 98V 4000 Armour & Co 4%s' 88% i 88% 1 88% ! 21000 U&Ohto cv. 4%s ..i 81 %1 81%: 81% 8000 Beth Steel p.m. 5«! 92%! 92%! 92%! 1000 Chi. Burl. A Qcy ! I I Chi. mu. & at. ; Paul cv. 4%s... 68 ! 66 ! 66%! i2000 Goodyr Tire 8s 1931: 99%! 99 ! 99%! 13000 GoodyrTire 8sl941ill5 :il4%|115 ! 16000 , GTRy of Can. 6s!104%!103%!l04H! 20no G Northern 7sA. .ill0% 110%^110% 20000 G Northn 5 l-3*Bil02% '102%!l02%i 5000 I Mo. Kan. & Tex. I I ! new adj. 5sA ... 83%; 83 Vi' 83% 8000 iMo Pac. geh. 4s j 62*! 62* j 63%: 56 ooo ! Mont. Power 5sAl 88%l 98%! 98%! 2000 N Y Centl deb. 6*105 il04%!105 I 34000 N PftC. T*r. l'en 4s 87 ! 86%! 86% 20000 Ore. Short I<ine I ! ! ! r ef 4« 1 »2% 92%' 92%: 1000 Pac Gas&EIec ß*' 92% 92%! 92%! 3000 Va. R .R. Gen. 5sll01%ll01%>101%! 10000 Reading Gen. 4s..! 85%| 85 ! 85 ! 11000 S OU of C deb. 7sil0« ilOS'i 10Ö 2000 tfno Pacific 1st 4si 62 ! 91%! 92 : 30000 ÏT g R.ibbeV 6s..! 88%: 88%! 88%: 16000 Utah P&Light 8s! 92%! 91%l 92V' 11000 Western Uflo !ttl%nil.% ! 7000 AVestghse Elec 7sil07%!107%;i07%! 1000 0 RESKO V ICHTP RE SS LIT Z . Tfthn Oreskovich of Black Eagle and Miss Rose PressIitK of Belt were mar - ried nt. fct . Ann ' s cathedral Wednesday . The B pv . Father M. T. O' Brien offici - »*"'1. The couple will reside in Black f-.ZWCOMERS CLUB HOLDS ANNUAL MEET THURSDAY The Newcomers club will hold its annual meeting Thursday night at the Commercial club rooms. The club will elect its officers for the year and plan its activities. TO QUIET BRAKES Screeching brakes cnu be silenced by squirting a little kerosene on the brake bands. CENTRALIZATION Of COUNTY POOR P ROPOSED T O CDT COST Many Patients Housed in Hospitals Due to Lack of Room at Farm; Larger Buildings Urged by Dr. Fuson. That the cost, of caring for the poor "f Cascade county will be exorbitant as long as the various institutions sup ported for the purpose are not cen tralized, was the statement made by Mr. G. A. Fuson. city and county health officer, who submitted to the county commissioners Saturday his findings on an investigation of county openditures for the support of the poor farm, the detention hospital and for the treatment of patients at the Deaconess, and Columbus hospitals, for the last year. , A total of $80,243.31 was expended for the year ending November 1, 1922, the report shows. Because of in adequate accommodations in the proper institutions it is unavoidably that at the present time there are in the hos pitals 35 patients of whom but two or three can benefit from medical care, the report states. The fact that it was necessary to care for these patients in the hospitals resulted in a county expense of approximaely $8,000, it is cited. By caring for county poor out ride the poor farm, expenses have been increased in the matter of overhead such as light, fuel and food, but this expense will continue as long as there is lack of centralization in supporting file poor, is stated. In investigating conditions at the county poor farm I)r. Fuson found lack of facilities, which enforce the present system of caring for the needy of the county Added accommodations there would, be believes. *lit the cost cl earing for them in half as he states in the report the cost of caring for an inmate at the county poor farm is Si? to 85 cents while in other outside institutions it is $1.50 a day approxi r ating an $17.520. Enlarge Farm is Sl.uU a (lay approxi annual expenditure of , ,. .. T1 „ In concluding the report l>r. I> uson slates that the county poor farm should I-.; enlarged and a system adopted u-iiirh wm.1,1 make ,t «elf snnnnrtmc which would make it self supporting The report follows: "In submitting this report of an in vestigation into the expenditures of county funds for the care of the poor. 1 wish to say that the work was under taken alongWith other rather urgent duties, and whatever is wanting in the matter of following up details' is due to lack of time necessary for the pur pose. Sufficient ground has: been gone over, however, upon which fairly ac curate findings may be based, and which, it is hoped, will lend some aid in handling these same problems in the future. "This report is based upon data as follows: "1. A general report from fhe county auditor's office for the year cx.ding November 1, 1922. "2. A detailed report from the s r me source for the month of Novem ber. 1922. "3. A visit to and inspection of the county poor farm, together with a physical examination of the inmates. "4. A physical investigation and financial investigation of all county (latients in both the Deaconess and Columibus hospitals on December 5 to 8, 1922. "5. Visits to homes where count.v aid was given during tlie month of N ivember. 1922. "0. A list of all county patients to gether with a diagnosis of their illness, eared for in both hospitals during the year ending November. 1922. Summary "A summary of the auditor's gen eral report for the year ending No vember 1. 1922. as follows: No. of Pia.ce People Amount Columbus hospital 182 $16,507.05 ! Deaconess hospital 118 Poor outside of institu tions 1438 Dental treatment 21 County poor farm 255 Burial ot poor Galen T. B. sanitarium Mothers' pensions Salaries, etc Tonsillectomys 24 Laboratory work 38 Miscellaneous e x p e nse. salary of county phy sician 8.786.47: , j 340.50 5,767.00 1.764.00 3,303.58 13,340.00 2.345.00 58.96 397.00 777.80 Total $80,243.31 "Ar the time (December 5 to 8), the investigation was made patients then in these two institutions, there were 35 persons whose care was beiug paid for by the county. These people had been in the hospitals as patients for various lengths of time. "Some hod been there but a few months, some a few years, while many ethers had been patients ten years or more. One woman was fouud who had been there nince 1SKV4. For the most part these people are old and unable to earn. Some are crippled in one way ard another, while others are entirely helpless. Misplaced "Out of the 35 county patients in ihe hospitals at this time there were only three for whom any sort of treat ment could promise relief. The most of the others were not only helpless »o far as ever being able to earn is con cerned. but. helpless when considered from the standpoint, of treatment. A few could be of use if their efforts were properly directed. "Aside from these there was quite it lengthy list furnished by fhe hospital for the year ending November, 1922. l'y a conservative estimate, based upon the diagnosis ns shown by the hospital records, it was found that 45 of this I.st could have received the treiyment i.< eded in almost any home or institu tion for the poor. "There are 20 acres in this farm, alxiut five of which are taken up by the various buildings. The water, ex cept for irrigation, is obtained through a pipe line from the city water plant. The sewage disposal is by means of a cess-pool. "The main building and the only one equipped for housing inmates is 24 by 2(5 feet. It is a brick struc ture, two and one-half stories high with a basement for the heating plant. The first floor is occupied by the keeper and his family and has space for the kitchen and dining room. LlmiUd Capacity "The second floor has four single bedrooms and two wards, the latter having a total capacity of 14 single beds. The only connection between the floors is « stairway, rather nar row and somewhat steep and winding. "AH the rooms and wards on each floor open into a common hallway and no provision is at hand for the segre gation of the inmates. Hence it can be used only for men or for women, but not for both. "There were 19 inmates in this in stitution" at the time of the inspector'# visit. any of these people are able to do considerable work and some of them do. Some go out and earn their liv ing during the summer months, return ig to the poor farm to spend the winter. "In order to get some information as to the actual condition of those re ceiving aid from the county other than what were being cared for in various institutions, a list, together With the addresses, was obtained from the auditor's office of all those receiving such aid during the month of Novem ber, 1922. "Out of a total of 69 making up this list, 10 were selected at random and a visit of inspection made in each case. In two instances the inspector was unable to locate the parties or obtain any information concerning them. This was attributed to a possible mistake in address. Visits Aid ' "Some of the people visited had re ceived help in the way of food, some fuel, some rent, and some were fur nished all. One family of two out of the 10 were being housed and fur nished everything they used. These were two old people, neither able to work, and probably never will be. "Granting there are 32 people in the two hospitals continuously each year whose only need is simple care and oomfort as obtained at the time of tu instigation, it means an annual eTpPnditure at , h e present rate of r )0 per diem or $17,520. v _ v ä f nr The estimated , sUehtlv tlie inmates of the poor a _ . over 82 cents per day per person, or a little more than half of^ what being P aid for those kept in P nvate ■ institutions. "This investigation discloses the .probable fact that many families are L. ine f un üshed shelter and provisions, in a ^pamte home, thus over lapP i nB i n the matter of light and fuel, s overhead expenses also tend to overlap. For instance, the caretakers now at the poor farm could double the number of inmates with but. little ad ditional cost if conditions would permit. Fall by Wayside "In the struggle for existence there alwavs has been and always will be those who fall by the wayside. No f;.ult can be attached to those,unfortu ni te people, and society i» bound by a sacred dutv to render aid. On the ether hand, there are those who will take advantage of the misfortunes of their fellows to become parasites upon a charitable public. "The question of providing for the poor is a big one. and as conducted ' iu most communities, there is much wasted effort and overlapping in ex penses that tends to defeat its own purpose. "Charity as such in most cases is a mistake: the greatest charity we can render others is to help them to help themselves. The care of the poor in each community should be put upon a business basis. One institution should bt provided adequate for all those reeding institutional care, where the poor, able to earn, could lend a hand iu supporting it. Such a place or farm or home could, in a little while under wise management, become almost if not wholly self-supporting. Recommendations "In view of the foregoing, the need l*i Cascade county of centralising or b 'nging under one management and f tp institution the work of caring for tl e worthy poor Is apparent. "The poor farm in its present condi tion is not only inadequate to supply tl is need, but can never be made so ! w J f h any reasonable expense. "Sufficient land of the right sort j and location should be bought, enough care of the present urgent need# and G'hers built as the necessity of the future might require. "Thus, as small beginning would, if fi llowed up from year to year, become i foundation upon which a well-equip ped. productive farm could be built, as a home for the poor. (Signed) "Ö. A. FUSON." $1,000 Bail Given by Belt Men Held on Liquor Charge W. S. Burns and Jimmy Danno, ar rested in a liquor raid at Belt a week ago Saturday on charges of selling in toxicating liquors, Saturday were re leased from the county jail on posting £1,000 bail in district court. A charge in the P. J. Shields justice court against Burns of passing a worthless check was dismissed as set tled. He was charged with passing a check for $20 on the First National bank without funds to back it. Lorenz Muscalino is the only man of the six who has not, obtained bonds. The others on bail are Andrew Bobat, James Callard and Karl Terrv. ( Advertisement) ROUNDUP AND CARBON COAL Weideman Coal and Feed. Fone 4319. Truck hauling, ashes, coal, sand and j gravel. Phone 9707. 1 COAL - ÄLL KIÜDF City Coal Company. Phone 0922. ELKS' NEW YEAR'S DANCE Saturday evening, December 30, forj Elks and invited friends. EASY PAYMENT Diamond», watches, jewelry and silverware. Make your own terms. Crown Jewelry Co.. -25 Central ave. STREETCÄRNÖTICE ÄH cars on all lines will run until 1:30 a. m. New Year's Eve. Great Falls Street Ry. DANOI Electric Camp R. N. A. Friday tvening, Odd Follows hall. Everybody invited. Admission 25c. CHRISTMAS TREE FESTIVAL Given by Daughters and Sonn of Norway at Odd Fellows hall Monday night, January 1. 1923, 7:30 p. m. Munbers and friends. Admission ">0c. Children free. COMMITTEE. Elks Convention Slated for Great Falls July 23-25 July 23, 24 and 25 have been fixed by the executive committee of the Elks lodge for the 1922 state conven tion of the odrer, which will be held in Great Falls. The 15 fodgea of the stete will send delegates to the con vention. which is expected to enroll 1,000 Elks from different points in Montana. The total membership of the Montana Elk lodges is approxi mately 10,000. The committee in charge of the convention is composed of A. E. I,a Bossiere, chairman; J. M. Burlingame, C. E. Hubbard, Almon LeFebvre and E. H. Cooney. WIIÄAGENT WILL REPAIR FIREDAMAGE $10,000 Loss on Building; Fire Bug Probe Will Be Re sumed. The Wilcox building, Fourth street and First avenue south, which was gutted by fire early Monday morning, will be repaired and put in shape for occupancy as soon as jjos.sible, B. P. McNair, agent for the building, said Saturday night. Frank D. Wilcox, owner of the building, is here from Payette, Ida., and will probably remain until the building is made ready for use again. The extent of the work will depend somewhat on the insurance allowed, according to Mr. McNair. The insur ance will be adjusted soon, probably by Tuesday, he said. The damage to the building was estimated by Fire Chief A. J. Trodick at $10.000. Mr. Wilcox, who left Great Falls in 1904, is now engaged in conducting an apple orchard at Payette. Investigation of the cause of the Wilcox fire, which is still unknown, will probably be resumed the first of the week. It was continued Thursday night while Acting State Fire Mar shal W. B. Glendenning and Chief Tro dick attended funeral services at Helena and Missoula for the late Fire Marshal R. S. Mentrum. Chief Tro dick is expected back tonight and Mr. Glendenning expects to be back after New Year's day. Their two-day investigation lessened suspicion that had attached to one person. PALACETHEATER "All on Account of NEW 10c •35c YEAR PRICES COMEDY •55c SUNDAY DEC. 31 AND ALL WEEK PHONE 9873 ALL SEATS RESERVED SELF SERVICE Pay Cash and Save Big advertisements, run every day, offering merchandise be low cost, attract lots of attention, and often they create a desire to buy. But when the people actu ally buy these articles they go to the store they have the most con fidence in. We thank you people of Great Falls and wish you a Happy, Prosperous, New Year. SINIBS DRAW LARGE CROWDS AT G. N. FETE Colored Musical Talent Fea tures Program for Holiday Travelers. If the entertainment at the Great Northern station Saturday night was for the special benefit of travelers passing through the city, there was no dearth of residents who gathered at the waiting ropm to witness their pn joyment. With the announcement that the colored singers of the First Afri can Methodist Episcopal church were going to appear there, interest wan aroused and the singers were greeted by a capacity audience, who were wait ing to hear them sing hymns and both popular g n d classic numbers. Those who took part were Mrs. John Taylor, the Rev. and Mrs. E. C. White, Charles Palmer. John Cole and Paul Ross. Miss Maud Burghard, who has been giving piano numbers at each enter tainment throughout the week, accom panied them at the piano. In addition to the offerings of the colored singers, the Rev. H. M. Need ham, H. A. Sheppard and David Kim merle entertained with hymns, to which accompaniments were played on a portable organ. Miss Maud Burghard gave piano solos. Margaret Rydell and Clara Rydell gave songs and ducts. Jack Veach gave a reading. Tonight's entertainment will include vocal numbers by Mr. Sheppard and Mrs. H. M. Needham, piano numbers by Miss Burghard and Paul Ross and violin selections by Dorothy Moore. Fundamentals Key « to Sermon Series by Rev. Mecklenburg Stating that science gives the. facts of life but not their true interpreta tion. the Rev. George Mecklenburg has announced a series of servions to be based on the great fundamentals of the church, to open this marning at the First Methodist Episcopal church. The sermons wilt be given each Sun day for the next three months, being a feature of the morning services, which are held weekly at the Grand theater. The temperature of Vhe star Plas kett is 30,000 degrees Fahrenheit.