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The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, April 10, 1924, Image 3

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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.<M>.
('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
<Cjiamond Dyes^>
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 [email protected]@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.

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