Newspaper Page Text
COUNTY UNIFORMITY REDUCES THE
PRICES Of BOOKS. To the Editor of Thz Advocatx. Please allow me a voice in the question of uniformity of text books through the columns of your valuable paper. Hooka county adopted uniformity last year, Our committee adopted the bock in meet general use. The results of such adop tion are. a reduction in the price of S3 per cent We exchanged the rejected books formerly in use at one-half the value of the books adopted, which, .in most cases, was more than they were worth. Our teachers have accomplished more this year than ever before, which result must come from having the uni formity. Then it is almostjlmpossible to use to advantage a course of study with out a uniformity of text books. It matters not to me what the advantage may be to the book companies, but I am satisfied from one year's experience that the beet Interests of our schools demand auni formltyof books. We have waited long enough for the legislature to take action on this matter. And if the legislature should act, I am sure there would be some favor shown to ua by us having uniformity. If they should not, we have not paid out anymore for books this school year than in any previous year. Again, state uniformity is getting farther off every year, inasmuch as counties hav ing unlfprmlty will oppose any change to state uniformity, lest they be asked to purchase new books. Yours for educa tion and reform, H.J. Lambert, Superintendent Public Instruction. Stockton, Kan., July 23, 1892. LIABILITY TO DEPOSITORS. From the Western RuraL Hon. E. S. Lacey, comptroller of the currency, has issued a supplemental re port of the condition of the national banks up to May 17, 1892. The report is made public under date of June 15. The number of that class of banks is now 3,744. The total of capital stock paid In is $882,232,158. Among long lists of Items which flourish hundreds of mill ions and look on the surface like a be wildering array of evidences of wealth, Is one item that ought to arrest the atten tion of every thrifty and economically disposed citizen. This is especially true since we are so incessantly enjoined to place more savings in banks, and especial ly In national banks, as safe depositories. By means of falsely colored editorials in the great dailies and sophisticated paid articles in the influential, magazines, the masses are made to believe that national banks are safe depositories of money, be cause, as they falsely pretend, the nation with a big N Is at the back of these banks to make them safe. This delusion must be dispelled before the people will be made to see the necessity for a system of postal savings banks wherein the na tion will bt not falsely supposed to be responsible for the safety of money en trusted to their care. The liability of shareholders is defined in Section 5,151, Revised Statutes. The words are as follows: The shareholders of erery national bask ing association shall be held ludmdually responsible, equally and ratably, and not one for another, for all contracts, debts, and engagements of such association, to the extent of the amount of their stock therein, at par value thereof, in addition to the amount forested in such shares. There are further provions applicable to banks with paid in capital of not less than five millions, but as there are few such, the last name provision does not generally apply. A comprehensive statement of the provisions which do apply according to Section 5,151 aa above, Is this: Where, as is by no means always true, all the shareholders are sol rent at the time of the insolTencyof the bank of which they are owners; ana wnere the stock cost par value at time of purchase, eaoh one for him self, but not for any of the others, is liable under the law for twice the amount of the capital stock which he owns, but nomore. It must not be supposed that the de positor, if plundered of his hard earnings placed for safe keeping, can fall back on any general law for the collection of debt, outside the provisions of the law under which the national banking system was created, and under which it is now bus talned. Taking the whole system as a unit, the total classed as individual deDosits amount to $1,743,787,515.10. Double the paid in capital stock, which Is the total liability under the law for "all contracts, debts, and engagements," the amount is $1,864,464,316. The liablity under the law Is the difference between the two sums last named, that is, they owe as a whole to Individual depositorssay noth ing of, other "contracts, debts, and en gagements" $379,323,229 10 more than can be collected by law. Should 'panic" sweep over this country, such as has desolated business many times with in the memory of men now In active business, who would profit by the defal cations to depositors? Hundreds of the smaller national banks do not get depos its up to the amount of their liability. Such, under ordinary circumstances, may be regarded responsible, or, in other words, such are not protected and encouraged by law in defalcations from their depositors and patrons. Turning to recent sworn official re ports of a very few of the largest banks In the great financial centers, we are able to see at a glance to what extent such In stltutions may under protection of law victimize their patrons, including the country banks who keep funds on deposit with them. The list might be increased to scores, but the following table will serve to Illustrate: Nam of bank. Liability to Ammmtofde- aeponuori. fxmtu on Mnd for which they I4P MAf H1T1 uomanenuu isaraonai, timcago 14,000,000 $ 5,G57,945t71 ChlcA&n 9 nnn nrm i ita on n n&uuuai a it vi Amer cA.CMcsnrn . 9 nnn nnn omtvuik Chicago Nat'l Bank... l.ooo.'ooo.'.'."! .. 6,31)4 8GU6 juetrupouiau nauoa 1 Bank, Chicago 4.0C0.0Q0 10,851,818 68 National Bank of Illi nois. Chicago 5 nnn nrtn in oin aiwi nn Chase National, New York inrmnm 17j.11 mm rui National Park Bank, ' ' new xotk 4,000,000 29,847,300.00 juauuvor ruu l, new York..,. . .. ... 2,000,000 18.401,100.00 Fourth Nation'!, New York Aivtnrvi oaiiiiwam Western Nat'l, New York 4,200,000 8,632,100.00 First National, Phila delphia ,.. 2,000,000 4,004,000.00 Farmer' and Mech. Natl. Phllalalnhla A nnn nnn a rrr. nr iv iwia was i, Boston.. 2.000,000 1,185,100.00 National Bank of Re public, Boston 3,000,000 4,831,000.00 Will somebody attempt to prove why bankers should be shielded by law from meeting their promises and obligations, while they habitually mouth over to each other the fears, that everybody else is or maybe untrustworthy? Is not the very Impudence which they assume towards the public intended to cover their own defects? The following bank stocks were sold on the exchange in New Tork last week: 21 shares Mercantile National Bank at 230 12 shares National Bank of Commerce at 192 14 shares ContinantaJ NittnnaJ Ranlr at vik 25 shares Corn Exchange Bank at 255 a snares uercnaots' National Bank at 153 Shares In the same class of banks In the other cities named stand equally high among Investors. Why should they not when shielded from risks by the pow erful arm of the general government? Tet political sheets and stump speeches are laden with false subterfuges to prove that our government and business inter ests could not long survive but for the credits and philanthropic efforts of the banks. THE ADVANCE IN COAL PRICES. From the Baltimore News. The Republican party holds that trusts are "largely private affairs." In support of this view it passes protective laws to make such combinations practicable, and is always ready to hold out a helping hand to the monopolies whose numbers and powers have so greatly increased during the present administration. That such combinations seriously af fect the public Interests la spite of their alleged private nature can be readily seen from the recent advance in coal prices. The committee appointed by the state senate of New York to Investigate the Reading deal find that in leu than six months the average prloeof the grades of coal which they are examining has in creased nearly $1 a ton. Broken coal has advanced Go cents, egg 85 cents, stove $1, and chestnut $1.40. The testimony further shows that the figures now reached verge on the prohibi tory line, so that a further Increase is im possible, simply because it would be unprofitable. Mr. Frederick E. Saward, editor of the Coal Trade Journal, was one of the wit nesses examined. He could offer no ex planation of the advance In prices except "the combintion of coal mines and rail roads." l The thousands who burn stove coal. will hereafter pay $4.50 instead of $150 a ton for It, will be hard to convince that trusts are private in their effects at all events, and that the party whose legisla tion makes such combinations possible is the party of the people. With one great protected Industry cut ting down the wages of its workmen, while another great combination In the same state advances more than 25 per cent the cost of one of the prime neces sities of life, the laboring classes in the great protectionist state of Pennsylvania do not seem to be reaping the rich re ward of prosperity that is claimed as the Inevitable result of Republican rule. NEGRO COLONJIS. Thousands of Colored People Coming to Kan sas to Remain Until Election. From the Wichita Beacon. "Wichita Is being filled to overflowing with Tennessee negroes sent here for the purpose of voting the Republican rail road ticket at the coming election," was the remark made in the hearing cf a Beacon reporter last night by a prom! nent real estate dealer on North Market. When asked to give his authority for such a statement he said: "Go and see for yourself. Oo to the different colored boarding houses. Take a walk about the city up on Wichita, Water and other streets. Have a talk with the negro Immi grants and then come out In the Btaeon and tell what you saw and heard." On arriving at Fairvlew hotel on North Mainstreet.it was found that this hos- tlery was doing an immense business. Not only was the house filled but the porch as well. Those on the porch were principally women, the men being kept out of view for some reason. The men were extremely shy. At a little house on the corner of Elm and Water streets was found one of the leaders, captains or commanders of this company of darkillgrims, named Samuel Ishman. Sam was not at home at the time, but in response to a knock from a colored man of this city, who accompa nied the reporter on his rounds, some thirty colored men came out They said that Mr. Ishman or "Israel," as some of them pronounced the name, had gone to Anthony for the purpose of looking up places for others who were to come to this city aside from the 1,500 who were bound for Wichita. It was learned from some of the immigrants that fully 10,000 negroes would be brought from the southern states to Kansas this fall It was asked If they expected to take a part In the election to which question a coal black negro, who acted as spokes man, and who was seen to alight from a west-bound train Monday evening and Inquire for Water street, by certain re liable men of this city, who had spotted him at the time, said: "Oh, yes Indeed, we will. We have been in the state since May 1." Another colored man said, "No, not May, but April." The speaker was silent for a few min utes while his rtaht hand took hold of the fingers on the left, when with a bright smile playing across his face and with a show of Ivory he said, "1 knowed Fze right May is sure enough, and no use going back any farther." Of course this part of the conversa tion was not'directed to the reporter, and upon asking them aa to the reason of the immigration to Kansas at this time of the year, when It only lacked a few months until the cotton-picking in the south, which is the harvest time of the colored race, they answered that they had an opportunity offered by the white men which would "probably never occur again. A reporter met a young nearo man. who came In on the train last night, on Market street near the poatofiloe. He was accosted by the reporter and asked how he liked Kansas as compared with Memphis. He said that what he had seen out of the car window he liked first rate. He then inquired for Samuel Israel, on Water street He said the di rections given him ana the other young man who came with him. were to no north four streets and then go west eight streets and he would see some of the leaders. He said that he had followed the directions given and had walked a long distance, but had failed to find the leaders. It was evident that they had mis taken the directions given at Memphis. The trouble was that he had taken south for north. He was brought by there porter to the barber shop of Prof. Orer. who, with the othor men about the shop, fully noted his appearance and marked him thoroughly. He was then directed where to find the place. The People's party league appointed a committee to thorougly Investigate the question, which .the members of the com mittee claim to have done thoroughly enough to warrant the following state ment "From what we can learn from different sources and In talking with the negroes themselves, Jthe committee is warranted In sajinir that some 1.500 negmei are to be brought to Wichita, not In a body, but at different times; that they will be kept in the cities until thirty days previous to the election, when they will be distributed out through the state in the counties, swearing that they are from the east part of Kansas and have been in the county thirty days previous to the election; that .the exodus coming on the heels of the threats of the rail road men that they would ship 8.000 negro votes Into the Seventh congres sional district and vote them for the Re publican ticket; that the immigration oc curring at this time of the year, when the negroes of the south are penniless and have been out of employment since February, and It only lacking a few weeks until cotton-picking begins, goes to refute any Idea that they are free and lawful immigrants; that .the negroes are here and the better class of citizens, ir respective of party, are asked to investi gate the matter."