t THURSDAY, APRIL 10, 1924 I ASSERTS RAIL i ACT BENEFITS I ALL SHIPPERS Northern Pacific Representa tive Speaks to Employes Here on Subject HOW THE ACT WORKS r “Adequate railroad service for the People of the United States is the object of the Transportation Act. Ibis is the main provision of the measure and all other provisions are merely auxiliary to it. The Act also limits railroad earnings and pres cribes a doctrine of efficiency and economy of railroad management." M. M. Goodsill, assistant to the vice president of the. Northern Pa cific railway, summarized the Act thus in an address to Northern Pa cific employees here last night, at a meeting of the N. D. Booster Club. "It will he remembered that the railroads were turned back to their owners in 1020, after a most disas trous experience with government operation, he continued. “This ex perience had continued during a period of twenty-six months at an average monthly loss to the taxpay ers of $45,000,000, not to mention the fact that there was widespread yomplaint of unsatisfactory service. Confronted by this situation Con gress sot about the passage of a law under which the roads might be privately operated and the present Transportation Act wys the result of its deliberations. Principles Held Sound “Under this law the roads have been operated for something over three years, long enough to demon strate that the principles upon which the law is based are economically sound and that, if congressional tinkering with it can be prevented, \hc roads will he able to rehabilitate themselves to such an extent as to promptly meet every demand of our constantly-expanding commerce. In view of these facts 4 ask whe ther or not it would be the, part of wisdom to destroy the good already accomplished, merely to gratify the demands of those who are always wanting to change horses in the 'middle of the stream. “It would lie a splendid thing if the people generally he in duced to study the Transportation Act* without prejudice, until they CQIU' to understand it. It is an en tirely new tiling in railroad legisla tion. provides for a departure from «>ld methods in rate-making, and ap plies such sane principles *to the solution of one of the greatest and most complex problems with which the nation is confronted that it should be protectee! from those who Vould destroy it for purely factious reasons. Previous Efforts “During all our previous efforts at railroad regulation the plan was to reduce rates to the very lowest fig ure jpossible without absolute confis-' cjmtm. The new net declared that the roads were entitled to a rea sonable return on the value of their property and instructed the Inter state Commerce Commission to fix rates under which the roads might earn such a return. The commission estimated 5% percent as a reasonable return and began fixing rates with that in mind. Tho roads never earned that return, hut they are do ing better each year, and, no doubt, will earn it in time. When they do earn it the rates they now charge will have to he reduced, for the law does not contemplate that they shall earn more, although should any one of them earn in excess of G per cent, provision is made for the recapture by the government of 50 per cent of the surplus, the other 50 per cent going into a special fund for im provement purposes. “The second new principle in this Act is that embodied in Section 15A. which instructs the commission in making rates to give due consider ation to the transportation needs of the nation, now and in the years to come. In view of the fact that the railroads had not been able to meet the demands uopn them for some years some such provision as this seemed necessary. Under it the cre dit of tho carriers has been revived to such an extent as to enable them to obtain new money, more than a billion dollars of.it last year, to ex pend on capital account for improve ments and betterments and to in crease their carrying capacity. “No previous railroad legislation contained anything like so important a provision as this. Congress seems to have previously given thought «Uily to restrictive regulation. It has been conservatively estimated that from $750,000,000 to $1,000,000,000 must be expended on capital account each.year during the next decade by the carriers if they are to continue their present efficiency and meet the ever-increasing demands upon their capacity. I should like to have some radical member of Congress tell me haw they are to obtain this money ipiless .thev are able to give a rea ‘soniible assurance that a fair return will be paid thereon. Returns Are Paid “And I want you to know that those returns are paid, not to Wall street, as so many seem to imagine, but to hundreds of thousands of in dividual scattered through- the length ai\d breadth of the TONIGHT 111 nni on 10 bismakck’s big show IT 0-1 C M A Kill l|K A\ 100-PLEASING features-ioo || IQ m |Q I. j I | 111 You will miss a treat if you don’t come; You’D like Bismarck better v f V land. Almost two million men and women are now holders ,of railway stocks and bonds, not to mention the millions of policy holders in our insurance companies, practically all of which are large investors in rail road securities. Is it not the part of wisdom to let* the contractor go on with the building he has started to erect, leaving these latter day economists to continue their vocal exercises for their own amusement? Let the Transportation Act alone, at least until some sound reason for its modification is presented." BRINGING BACK GERMAN MONEY IS PROPOSED (Continue,] from page 1) caused reduction of between nine and ten milliard good marks. Earnings from German snipping, insurance, etc., greatly reduced. (2) Principal causes of increased assets: (A) Sales of mark credit bank bal ances and paper marks resulted in profits of between 7.0 and 8.7 mil 4iard gold marks. German marks pur chased by citizens of many countries and more than a million individual accounts were foifnd in German banks. (IJJ —Sales of gold aggregat ed one and a half milliard gold marks. (C) —Sale of German real property and securities to foreigners approximated one and a half mil liard gold mark's. “Section 3. Conclusions as to amount of German foreign held as sets : “(A) Committee estimates that German capital abroad of every kind whether liquid or in permanent in vestments was not Uys on December 31, 1923, than 5.7 milliard gold ins.iks and not more than 7.8 milliard geld marks and it thinks the middle fig ure of 0.75 milliard gold marks is the approximate total. This figure by comparison with the 1914 esti mate of German foreign holdings shows a reduction in foreign hold ings qf approximately 21 milliard gold marks. “(B) In addition to the foregoing, foreign currency now in Germany now approximates 1,200,000,000 marks. “(C) It must ho remembered that foreigners hold property in Germany which has a counter balancing effect and the committee estimates the value of such property as from one to one and a half milliard gold rnarks. Conclusions “SECTION 4. Conclusions as to means of bringing exported capital back to Germany. “(A) Flight of capital was a re sult in the.main of tho usual econ omic factors, namely, the failure to balance the budget, inflation and the raising of large national loans but it was accentuated by the atti tude of the German people toward the payment of Germany’s war cred itors, and was marked by. ingenious devices to evade restrictive legisla tion. It was also influenced by the action of speculators and timid in vestors. “(B) Neither legal enactments nor severe penalties hampered the flight of capital or resulted in the disclosure of assets abroad. Under the economic conditions above stat ed this demonstrates the ineffective ness of restrictive legislation and the committee feels that it would have been ineffective whether or not the laws had been fully enforced. “((5) The only way to prevent exodus of capital and encourage re turn is to eradicate fundamental causes. Inflation must be perman ently stopped; the budget must he balanced and a bank of issue on a sound basis established. The committee knows the conclusions of the first committee experts and if effect is given to their recommendations, it thinks that con siderable part of German assets abroad will return to the ordinary course of trade. “(E) Austria is a case in point where under a stabilized currency the necessities of trade bring back existing foreign holdings. “(F) While believing that special legislation is not required when a country’s finance is on stable basis, nevertheless during the period of transition the committee suggests that Germany might grant an amnes ty for a limited time to those bring ing their capital back, who violated German law in sending it abroad and that speciij terms be offered for subscriptions to government loans which are made .in foreign curren cies.” < Minorities Happy In Esthonia * Reval, April 10.—Esthonia, v h its population of 1,500,000, including 200,000 Germans, Swedes and Rus sians, has reached a solution of the minority problem which he i been vexing tlie government since the lit tle Baltic state was founded and which js reported to be working most satisfactorily to all concerned. Terms of the agreement, based on the prin ciple of cultural autonomy and local self-government, were approved some time ago by the League of Nations. Girls! Have Pretty ' Eyes No girl is prettv if her eyes are red stained or have duck rlng£. Simple camphor, witchliazcl, etc., as mixed in Lavoptik eye .w.-.sh, keeps eyes healthy, sparkiin and vivacious. Dainty ey<* cup f i \ Jos. Breslow, druggist. —Adv. MARKET NEWS WHEAT MAKES A COME BACK Hallies After Going Down ward in Early Trading Chicago, April 10.—Buying in which one of the larger houses took the lead brought up prices of wheat and corn today, moic than offsetting setbacks which previously had taken place. The close was firm, lioth for wheat and corn with wheat shade to 5.8 cents higher May sl.Ol 7-S to $1.02 and July $1.03 1-2 to si.o3 5-8. Chicago, April 10. Influenced chiefly by the government crop re port, wheat declined today during the early dealings. With only mod erate selling the downturn carried prices to within a fraction of the lowest level so far this season. Ac cording to one authority the govern ment report, is figured on the basis of the final par yield per acre, would suggest a production of (120,000,000 bushels, an amount 71,000,000 bush els than the estimate issued yester day. Opening prices which ranged from %c to I cc lower, May sl.Ol to sl.Ol % and July $1.03 were soon fol lowed by a slight additional sag. ST. PAUL LIVESTOCK South St. Paul, April 10. Cattle receipts 1.900. Active, generally stea dy. Few matured steers early $9.50. Bulk $7.00 to $8.50. Fat she-stock $3.50 to SB.OO. Bulk $4.25 to s7.. ('aimers and cutters $2.50 to $3.50. Bologna bulls slow, bulk $4.25 to $4.00. Stockers and feeders active, bulk $5.50 to $.7.00. Calves receipts 1,(500. Fifty cents lower. Best lights $9.25 to $9.75. Bulk $9.50. Hog receipts 10,300. Slow. Ten to 15 cents lower. Few loads sorted IXO to 200 pound averages $7.00 to $7.50. Packers and shippers bidding mostly $7.00 for desirable grades of lights and butchers. Rough or heavy sows $6.00 to $G.25. Pigs early $6.25 to $6.50. Sheep receipts 2.(500. Steady. ,Few good wooled lambs $15.50. Medium and heavyweight ewes $9.50 to $10.75. Choice lights quotable up to $11.50. One short deck of 55 pound feeding lambs $12.00. CHICAGO LIVESTOCK Chicago, April 10.—Hog receipts 24,000. Uneven. Mostly steady to strong. Spots strong to five cents higher. , Cattle rocemts 10.000. Beef steers uneven, early top matured steers $12.40. Sheep receipts 10,000. Slow, good fat wooled lambs, early $1(5.50. MINNEAPOLIS GRAIN Minneapolis, April 10.- Wheat re ceipts 85 cars compared with 157 cars a year ago. Cash No. 1 northern sl.i()% to $1.15%; No. 1 dark north ern spring, choice to fancy $1.21% to $1.27%; good to choice $1.16% to $1.20*%; ordinary to good $1.11% to $1.15%; May $1.10%; July $1.12%; September $1.11%; corn No. 3 yel low, 70% c to 71 %c; oats No. 3 white 45c to 45%c; barley 55c to 72c; rye No. 2, 59%c to 6U%c; flux No. 1. $2.39% to $2.13%. MINNFA I*o LIS l’l.(N R - Minneapolis, April 10.—Flour un changed. Shipments 40,yi)t) barrels. Bran $22.00. BISMARCK GRAIN (Furnished by Russell-Miller Co.) Bismarck, April 10, 1024. No. 1 dark northern $1.04 No. 1 northern spring SI.OO No. 1 amber durum 87 No. I mixed durum 82 No. 1 red durum 78 No. 1 flax 2.14 No. 2 flax • 2.00 No. 1 rye 44 Wo quote but do not handle the following: Oats Tic Barley. „.49c CAPITOL THEATRE TONIGHT, Thursday LARRYSEMON King of comedians in “TROUBLE BREWING’’ Martha Mansfield and Seena Owen in j Anna Katherine Green’s Mys tery Masterpiece i “Tflg LEAVENWORTH CASE” THE BISMARCK TRIBUNE Speltz, per cwt New Shell Corn Yellow Mixed No. 3 56 lbs. test ...... .52c 51c No. 4 55 lbs. test 50c 49c 1c per pound discount under 55 lbs. Ear corn (70 lbs. in Minnesota) 5c under shell. WHOLESALE PRODUCTS (Furnished by Northern Produce Co.) Cream —Butterfat, per lb 58c Eggs—Fresh, candled per doz. ...18c Dressed Poultry No. 1 D. P. Young Tom turkeys, per lb 23 No. ID. P. Hen turkeys, per lb 20 No. 1 I)u< «s per lb 15 No. 1 Geese per lb 13 No. 1 turkeys, per lb .-.••17 Live Poultry Hens 4 lbs. each and over per lb. .13 Hens under 4 lbs. each, per 1b....08 Springs, per lb 11 Cocks and stags, per lb 08 Ducks, per lb 12 Geese, per lb ...10 Too Late To Classify FOR RENT Two modern unfurnish ed rooms. Inquire at 304% Main Street. Front apartment. 4-10-3 t FOR RENT —Two furnished light housekeeping rooms in modern home, ground floor, private en trance. Clean and cozy. Close in. 421 3rd St. Phone 564 R. 4-10-3 t FOR RENT A two room apartment partly furnished, first floor,' out side entrance, hath in connection. Also a sleeping room on second floor, all in a good, quinf home. Phone 83(5M. .405 sth St. 4-10-1 w FOR SALE Avery Tractor 12-25 complete with three bottoms plow and self guide. Almost new having plowed only 175 acres. This out fit may be had at less than half of the new price. Time to re sponsible parties. Inquire Dakota Auto Sales Co., 107 sth St. Phone 428. 4-10-3 t FOR RENT Five room furnished modern house. Write No. 748, in care Tribune. 4-10-3 t FOR RENT Four rooms in modern house, 418 Ist St. 4-10-3 t AUDITORIUM Theat re—Bismarck ONE NIGHT ONLY MONDAY, APRIL |4 Seats on Sale Friday at Harris & Woodmansee. PRICES . . . 50-77-SI.OO-$1.50 Plus Tax. Eltinge Matinee Every DajyAt 2:30 TONIGHT THURSDAY AND WILL ROGERS. < COMEDY ‘TWO WAGONS BOTH COVERED” VALLEY CITY BANK REOPENS? White & Officers Elected and Institut ion Expected to Function Again Valley City, N. 1)., April 10. Frank I’. Cook was elected first vice president of the Bank of Valley City at a meeting held in the bank rooms for the purpose of re-organizing that institution' which was recently de clared insolvent. Walter Coop, for mer cashier of the batik, stated that he believed the bank would be opened for business in about a week's time when the special deposit ban would In* lifted and the state bank examiner allowed same. Al though he will retain an interest in the institution, Mr. Coop will be in active and plans to spend the sum mer here looking after his farming interests and biter moving to the west coast. K. O. Nestos, deputy bank exam iner. was elected cashier of the bank anti will enter upon his new duties immediately having resigned his present position. Mr. Nestos is a local resident anti it man who hits it great personality for meeting people. Only three people will he employed in the bank, Mr. Cook, Cashier Nestos and Miss Anna Lybeck. The capital stock of the newly or ganized institution will be $50,000, it was said recently. The capital stock was over subscribed, according to Mr. Cook. The state banking department tie dined to comment on the reopening. THE FAIR STORE 3RD AND BROADWAY OPPOSITE POST OFFICE NO GOODS SOLD ON APPROVAL NO RETURN OF GOODS ALLOWED OPEN EVENINGS UNTIL 9 O’CLOCK PRE-EASTER SALE OF SHOES If you have not yet purchased your Easter Footwear, you are in great luck, for listed beiow you will find a big saving in almost anything you are looking for. We are re ducing our entire stock including greys, tans, suedes, patent leathers and satins. Sale Starts Friday, April 11 and Continues to Easter Ladies High Shoes Ladies’ High Shoe, Black and Brown, Louis and Cuban Heels. Values up to $10.00; close out $1.89 Make your children happy by buy- I We have hundreds of pairs of Shoes ing their Easter Shoes at the Fair I for Ladies’ and Children for your in- Store, and take advantage of the K spection at this sale. Come in and Great Reduction Sale. I look them over. I Ladies Low Shoes $ Ladies’ Brown, Black and Patent Leather Oxfords, Ladies’ Patent Leather Sandals, an exceptional value •Crease Toe, values to $6.00. Close out at QC Mac 90. VD • *v* Ladies’ Oxfords and Pumps, all colors, Brown, Black Ladies’ Tan and Black Suede Pumps, high grade. and Tan - Values “P/° * 7 f°- This « reat sale t 0 Former price $8.50. Sale price V o ?® $4.95 $2.98 Easter Sunday will soon be here and we have about Ladies’ Black Satin Pumps, value up to SB.OO. Sale 150 pairs of Ladies’ and Girls’ White Canvas Oxford price Pumps which will be suitable for the season’s gala d»/| A[J dress. Values up to $6.00. Close QO Ladies’ Gray Suede Strap Pumps, $9.00 value. Priced - for this sale at * LADIES’ HOSIERY A C Lisle Black and Brown Hose 49c # •T’O Silk Hose, all colors 59c * * x xr i i 4. Ladies’ $1.25 and $1.50 Silk Hose 98c Ladies’ Black Suede Pumps, four straps. Valued at ■■■■ « $9.75. Priced for this sale at We have a nice line of Ladies’ and Children’s Coats and Dresses for spring wear at greatly reduced $ / •T’O prices. Come in and examine them. MANY ENTER ESSAY CONTEST Compete for Prize Offered By Good Roads Body Many North Dakotans are expected to enter into the National Good Roads essay contest for 1924, with a chance of winning the H. S. Fire stone four years university scholar ship for the best essay on the sub ject, “The Relation of Improved Highways to Home Life.*' The Highway Education Board, in an announcement of the contest re- WOMEN! DYE IT NEW FOR 15C Skirts Kimonos Draperies Waists Dresses .ingliams Coats Sweaters Stockings Don’t wonder wnctTior you can dye “Diamond Uy.s” even if you have never dyed before. Druggists have or tint successfully, because perfect home dyeing is guaranteed with nil colors. Directions in each pack age. ccived hero, states that the essay must Ue restricted to TOO words, and all students of high school grade -are eligible for entrance. The closing date of the contest is April 21. High school students entering the contest | HOSKINS - MEYER \ S \ 5S i Spring H@w@r { 1 Shew | 1 Realizing that the wonderful display of Faster Plants g = in their riot of colors throughout the entire rainbow g 1 at our greenhouses at 3d Street and Avenue E„ if kept jg 1 for our own eyes alone to feast on would be selfishness, g I we are going to next Sunday afternoon ( Palm Sunday ; ; let you feast with us. £ The greenhouses will be thrown open for your ' inspection. 1 There will be no entrance fee. We are putting on the jg I show. v jg I HOSKINS - MEYER | illllllllllllllllllllllllllllllllllllllllllllllllllllllilllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllllß PAGE THREE are urged to present their* essays to their teachers /with request that they he entered in the contest. Cook by Electricity. It is Cheaper.