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I TODAY'S METAL PRICES ft j(v A ft J dYV 'VV' H Iff WEATHER FORECAST . 'jl
i 11.67c, ni l m. vV' , Snow and colder tonight; tomorrow fair." H ; . . . Q FEARLESS INDEPENDENT PROGRESSIVE NEWSPAPER I I nM ; !l i 7-Uo' 46 Prfce Five Cents - OGDEN OTY, UTAhTmONDAY EVENING, FEBRUARY 23, 1920 LAST EDITION 4 P. M, & 8 ' 5 " ' ' 8 & ABILITY OF RESERVE "SYSTEM TO BE TESTED 1 i I TO COMMERCE jl IB iDUSTRY IS ! mum's CHIEF UM I I Annual Report Contains Warn ing Against Danger of Too Rapid Deflation H "l PRODUCTION DECLARED . -r ! TO BE CRYING NEED '"k Cooperation of Business and Community Necespary, Board yj j j Members Declare foyj j WASHINGTON, Feb. 23. Determi ' "i nation of the federal reserve board to K I :( exert the full power of the reserve k M banking system in regulating and con 'Mj trolling the credit situation a course designed to aid commerce and indus- - try in restoring a pre-war equilibrium pA ( vas disclosed in the board's annual ro ' j j port, made public today. 1 The board was i)repared to "lesr the ' j ability of the system to check expan- ' J ioa and to induct healthy liquidation." ) The board explained it was aware of j the Implied power to rectify the con- i i ditlon which confronts the country. i This power necessarily followed tlie authority for and employment of an . elastic system of reserve credit and i '; note Issue, it was added. i ; Recommendations also were made j' i, lo congress for amendments of the re ' serve act which would permit reserve bancs to establish normal maximum ' lines of credit accommodation for member banks. An ascending scale : j?J of rates would be' provided In' etfent money was borrowed. jibovQ. the maxi mum line. This, the board beHoved, ,' woula work to the end that credit ex. 'Jj i; pansion on a largo scale would be stop--.7- ped. I Warning Is Issued. Warning was given that the coun j try must guard ngainst toprapid defla tion. It was pointed out. however, that some reinedies employed to cor 'i rect inflation niight create conditions worst than inflation, itself. "It must never be forgotten that modern business is donu on credit. One of its life-giving prsnci pies is credit. The ultimate test of u J credit system must be found in what . It does to promote and increase tho production of goods. True, in general, the truth of this observation deserves v to be particularly emphasized in the ' nrpt;prit rlprrmirprl stnti nf wnrlrl in- j 1 dusii-y and trade when production is . ,' ? the crying need of the hour every- vrhpre." .' , In explanation of its increase in diG- ; ' count rates, the board said that had ; J y been tho traditional method of credit control. Its use, however, pro-sup ;tfV? poses normal conditions and these, It as pointea out, do not all exist at j this time. "While a high reserve bank I rate was shown to act as a restraining influence upon borrowings and it ma j: 1 attract credit from other centers. It is jji I", this condition, among others, that was h ! said by the board to make imperative 5; 'J the use of its power in controlling ,f credit and stnrting deflation. 3 j Business Must Co-operate. j ij t In checking expansion, tho boar.l tie-! .j clard much depended upon co-opera- J j lion of business and the community r'i . generally. "There is, however, no ;'; need for drastic or precipitate action," j i the report continued. "There need be no opprehension as to our ability to ; affect the transition from wartime to j : j peacetime conditions 'if reasonable : j safeguards against the abuse of credit are respected. Our economic and fi- 1' j nancial position is, at the bottom, safe ' and sound. The processes of ! adjusting the volume of a credit to a normal basis should bo effected in an orderly manner." ! A plea was made for complete ab-l I sorption by investors of outstanding vJi" ponlons of securities issues. As; these pass into the hands of perma- 3 nent holders and the national debt is ;j reduced by the operation of the sink- ' j lng fund, there gradually will come a ; proper balance between the "volume of credit and the volume of concrete ' : things, the board explained. 1 v , i,,u optuun; ui greater pruuuuuuii wasurged again as one of the methods ,4 oy which the "proper balance" might j v materially be aided. But the board . directed attention to dangers which lie in thepath of great production unless i l"at production is Immediately follow. d tjdistrIbution and avoidance of " wasteful consumption. System Can Assist. "The federal reserve system can do much to assist the processes but it cannot of itself compel them. 'While tho federal reserve board ' will always be mindful of. the inter dependence of credit and industry and the influence exerted on prices by the General vnlume of credit, the board ; nevertheless cannot bo assumed to be an arbiter of prices. Its primary dutj 13 to see that the banks un Her its supervision function effective- i ru prPcrly n,s reserve banks." 1 inc granting of extensive credit to ii (Continued on Page 5) iHEfiBERT HOOVER j OPPOSED TO THEATY JS POLITICS ISSUE ' Fears Obscuring of Pressing j Domestic Issues by Conflict ' Over Peace Question GREATER PRODUCTIVITY HELD GREAT NEED Heart Breaking Underpayment of Teachers Needs Correction" Speaker Declares BALTIMORE. Md.. Feb. 23. Herb lort C. Hoover, former food adminis trator, declared today in an address ,at Johns Hopkins university his oppo sition to making the ratification of tho i treaty with Germany an issue in the j presidential campaign. He insisted thei (injection of the arguments for and I i against rerervations would "obscure! lour pressing domestic issues by con i (flict over a question in which the! country 1ms made up its mind," and' added, "it is my impression that there j I is vo party credit in this position." , Hope for immediate ratification of, the treaty rested in. the . acceptance by J "the.- legser. reservatlonistaV oC. proposal als of "the mild leservationists." Tli tvro combined, he said, could secure! reoeivalion. i 'It also appears -to us," be contin ued, "that even from the point of view of .he 'lesser reservalionlsts' they wllli hav secured all of the major func-l tions and values of (he league. Forj my part,' if the league cannot prove its lalue under the latest proposals of; the 'mild reser ationists' it will never proo them under the proposals of thc j 'lesser rcservationists.' " Steady Degeneration. ! Tlu present danger Europe is fao I i ins, Air. Hoover said, is not so much I a revolutionary cataclysm as the" "steady degeneration of the standard I of living and the slow decay of the. forces of stability." j Restored productivity, he insisted, j.i vsjatruurti ii ine ami's are 10 receive the maximum reparation. "Until then we shall not have real peace," he paid. "It will be delayed as long as we hang I the treaty in the air for we are a part of it. 'U would appear to an outsider that botli sides were in agreement on alU the great major ideas of tho Hague and the major Ideas of the rcserva-' itlons, but that they are in disagree- j mem mostly over secondary questions in the reservations. In the meantime, the world is held in suspense. Infinite j misery goes on accumulating. Forces; are set in motion that may yield new! conflicts. Already the distrust and un- derminlng of confidence and credit in I the world has crippled our export1 market." i Moderation Is Urged. Regarding the part the United I Stales will take In the rehabilitation !of Europe, Air. Hoover counselled mod eration. "We have two extreme views among our people," he said, "upon the j I policies Ave should adopt in all these I matters. One contend that the ideal (is the isolation of Europe to herself;) the othor contends at least for moral i domination as a mission of interna-1 tional justice. Many of us want neither extreme." I Assuming that the treaty would bej ratified "some day in some form" he expressed a hope that it might serve' to bring about a reduction of arina-1 ment and the "development of engines of conciliation, of arbitration and i codes and court of international jus-1 Uce." ! Except where the interests of the! United States are vitally concerned, Mr. Hoover declared himself as op-j posed to American members on the j various missions proviaeu lor in me trca y for the settlement of questions raised by the war. The loaning of money except to alleviate distress was also opposed. "Our best assistance in healing Europe's economic wounds lies in ,tho promotion of the great proc esses of private commerce," he said, "not in loans from our government. ' Mr. Hoover'syeforences to the peace treaty and iui ratification were pre ceded by presentation of statistics cal culated to indicate what he called the "heartbreaking under payment" of school teacher oo KING ALBERT TO VISIT IN SOUTH AMERICA RIO JANEIRO, Feb. 22. Announce ment is made that Albert, king of the Belgians," will visit this city In June. Apartments in one of the most beau tiful palaces in the city are being re novated to receive the royal guests. First Call of Spring v' j , . i. MURMSK CAPTURED : 8V BOLSHEVIK FOSCES i ' Former Base for Allied Forces j Falls Into Hands of Soviets ! After Revolt ! LONDON, Feb. 23 Bolshevik forces 'have seized Alurmansk and shipping in the hnrbor there, following a rcvolu ; tion which broke out at that port Sat .uiday afternoon, according to a Lloyd's 'dispatch from Vardo, Norway. Murmansk is situated on the Alur man, or Kola peninsula, juting east ward from Finland and north of the White sea- It is northwest of Archan gel. Last year Murmansk wjas the I base of operations for allied forces I fighting the Bolsh'eviki along the west jern shore of the White sea. I News of the capture was brought lo J Vardo by a Russian steamer. It was the only vessel to escape seizure, but was riddled with machine oin fire and j the captain was wounded. nn FARMERS PROTECTED I j FROM POOR SEEDS) ! BOISE, Ida., Feb. 23. "Seeds sold for feeding purposes only." This sign appears in many dealers' establish ments throughout the state, according to 13. F. Sheehan, state seed commis sioner, who has issued a statement advising farmers lo buy only tested seeds. "The Idaho pure seed law requires that a tag, indicating tho purity, ac company every lot of seed which Is lo be -sold for seeding purposes," says Air. Sheehan. "If sold for 'feeding' purposes, such designation must be posted. "Farmers buyiug seed of wheal, joat3, barley, alfalfa, clover, etc., should by all means only buy tested seed, 'steer clear of 'seeds sold for feeding purposes.' Ten chances to one they are below standard. The high price one will have to pay for seeds makes it ever so important that only tho best be obtained for seeding. "Think of a farmer buying or a dealer selling clover or alfalfa seed for 'feeding purposes.' Howovcr, that is what occurs every year. Protect your self against such practices and buy only tested seed." Mire rem? IF TMIill STRIKE Arrangements Approved for Using Trucks to Take Place of Railroads WASHINGTON. Fob. 23 Executives of 23 states have approved tho pro posal of the council of national de fense that steps be taken to enable rapid mobilization of tho motor trans port resources of me various states to the end of using highway transport wherever necessary or advisable in any national emergency. Extracts from the replies of gov ernors and state highway officials to a letter sent out by the council with the authority of Secretary Baker wore made public and reveal that in a num ber of states motor censuses have been taken and put into such form that "n event of interruption of other trans portation facilities the people of the states could be fed and carry on busi ness by motor transport. In other states such action was said to bo con templated within a short time. PRICELESS RELICS OF FOOTBALL DESTROYED NEW YORK, Feb. 23 Four hun dred guests at tho Aiarie Antoinette hotel, Broadway and 67th street, were driven from their rooms early today by a fire which started in the "apartment of William H. (Big Bill) Edwards, col lector of internal revenuo and formor Princeton football captain. The hotel was damaged by water to the extent of $25,000. Mr. Edward's football trophies, which he considered priceless, were destroyed. The origin of tho fire Is not known FOUR AGED WOMEN ! MEET DEATH IN FIRE LYNN, Alass., Feb. 23. Four In mates of the Lynn home for aged wom en -were burned to death today in a fire that destroyed the building. Others of the score of occupants made their vray painfully down the stairs or were assisted by attendants to escape- AOMIRAL PEARYAT REST 1 IB Full Naval and Military Honors Accorded American Who Dis- j covered North Pole WASHINGTON. Feb. 23. The body of Rear Admiral Robert E.- Peary, dis coverer of the north pole, was laid to rest in Arlington national cemetery today with full naval anrt military honors and with high officials and1 offi cers of the government and diplomatic corps present. The ceremonies were in charge of the navy department and Captain Carroll Q. Wright, chaplain at tho Washington navy yard conducted the religious services. The casket was carried to the ceme tery on a gun limber, draped in tho national flag which Admiral Peury' raised at the north pole. A troop of cavalry and a battery of artillery formed the military escort which led 1 the way. while a long procession of official and private automobiles carried tho distinguished mourners to the gravo side. At the cemetery, a com pany of bluejackets fell into line with tho army escort and three volleys of the last salute were fired by a squad of sailors from the presidential yacht. I Alayflower. A navy bugler sounded' laps. j FOOD SITUATION IN ARIZONA MUCH BETTER rilOENIX, Ariz., Fob. 23 The peak of tho flood of Salt river, which was expected lo reach Phoenix early this morning, failed lo arrive and the river is gradually receding. The stnte high way bridge at Tempe, which , was closed to vehicles by orders of tho state engineer, stood the flood and tho use of dynamite was abandoned. oo I NEW ARREST RECORD MADE IN NEW YORK NEW YORK. Feb. 23. For the first lime since the West 123rd street po lico station was opened, eight years ago, a period of 2-1 hours passed, end ing at midnight last night, without a single entry being made on tho blot-tor. LLOyO GEORGE ID IITTI WILLHG TO TRIE WITH ROSSIS Premier Miilerand Inclined Not to Agree to Any Immediate Action on Question EDITORS CALL FOR RESUMPTION OF TRADE i Why Incur Danger K to British Possessions and Lack for j Grain? One Paper Asks I I REVAL, Esthonia, Feb. 23. Two Bolshevik delegations have arrived here, one to ad minister the provisions of the peace treaty between soviet Russia and Esthonia and the other to direct the re-opening of export trade with western Europe through the Russian co-operative societies. An Esthonian delegation ' -will loave shortly for Moscow in. connectiojn with, the execution- of the peace treaty's terms. LONDON. Feb. 23 Premier Lloyd George and Premier Nitti are believed to favor resumption of relations with soviet Russia, although Premier Aliiler and of France is inclined not to agree lo any immediate action, according to tho Daily Mail. The question is called to attention by a memorial sent to Air. Lloyd George by a number of mili tary men and others who during the past two years have been in Russia on official business. The newspaper says this problem must bo considered by the supreme allied council at its sessions which begin today. Tho Chronicle maintains that "all candid minds must recognize that as 'nn nnf.i.Ttnlshpvik' nrrraniratinn exists iany longer, soviet Russia is now Rus sia." "Do we want peace?" it asks, "or do I we want to continue the blockade, with I the risk of incurring the hostility of ; the Russian government and military reprisals against the Letts, Poles, Ru manians, India and Alesopotamia, at i the same time depriving the rest of the world of the Russian grain supply? Surely there is only one answer, peace, which would be altogether bet ter if it could be obtained on the prop er terms." Similar views are taken by the Daily News which says: "By what right does a handful of politicians condemn their democracies to needless hardships and the democ racy of Russia to hardships fourfold more acute, by prohibiting a natural and beneficient exchange of needed I commodities?" I The Alanchestor Guardian says that ! If the soviet government is as unsuc cessful "as its opponents' public agents have told us, then why not ' throw Russia open and let the world (see the failure, and tho failure die of ' consequent hliquy." CREW DRIFTS TVO I MONTHS IN VESSEL NEW YORK, Feb. 23. After having! drifted helplessly- for two months In. j the schooner Rostellan with its rudder gone, its sails carried away and the hull leaking, the captain and eleven of J her crew were brought here today by ' the American steamer Deep Water, bound from Genoa, which picked them j up 450 miles east of Bermuda, Febru ary IS- The Rostellan was bound from Loango, Africa, to Liverpool with a cargo of palm oil and ivory when she I mot with misfortune. uu 1'HIEVES STEAL WINE AT CATHOLIC CHURCH CHICAGO, Feb. 23. Thieves last night entered a lloman Catholic church parish house of Hubbard Woods, a suburb, and carried away fif ty bottles and one ton gallon keg of jv.-ine, used for sacramental purposes. SUFFRAGE CONVENTION. LONDON, Feb. 23. The conference of the International Woman Suffrage alliance, originally called to be held In Aladrid, will be held instead in Geneva next June, it was authoritatively an nounced today. It is believed by offi cials that Geneva is more accessible than Madrid for a great part of tho delegates likely to attend. OFFICIALS OF 111 I GRIEVANCE MEN I ATTACK PROPOSALS I Grievance Committeemen and fll Brotherhood Leaders Holding j fl Canference in Washington )iH DEMAND FOR VETO TO .9 . BE FRAMED IS BELIEF H Heated Arguments Develop at Secret Sessions Held by Fif teen Organizations '1H WASHINGTON, Feb. 23. President Wilson's proposal for settlement of the railroad wage controversy and the ' compromise railroad bill, pending in the senate, were bitterly assailed in j'lH the conference here today of the rail- t'lH road union officials and grievance com- jvH railteemen who were called to Wash ington to discuss the settlement pol- fH icy laid down by the president. 'llH Indications were that a majority of the union leaders would demand that ftH j railroad labor stand together in an ap peal to the president to veto tho Cum- 4 I mins-Esch measure because of its la- IH Ibor provisions. Some regarded It as I destroying all progress made during fjH I the negotiations with Director-General Hines toward a settlement of their de- ir mands for higher pay. Representatives of the fifteen orgqn- fljl izalions concerned, in the settlement f proposal met in socrct session in is many different halls,-; Their purpose WM was o formulate thoirwn views by raajority rulcrand1Jate'r niect in a gen oral conference. 33eated argttmeuts T;'H which were admitted lo have deel oped In practically every meeting, were expected to be continued in the main conrerenee. WASHINGTON, Feb. 23. The con- .flH ference report on the railroad bill passed Saturday by the house, wa3 called up in the senate by Senator t'':; Cummins, chairman of the interstate 'commerce committee who obtained ! unanimous consent for its immediate 'H 'consideration. Its speedy adoption was predicted. I Presenting the conference report, Senator Cummins emphasized that the tM Jratj guarantee section did not take a !,fl dollar out of the public treasury. r "In order to prejudice it among tho people it has been termed a guaranty .H of income." he said. "That is not lru. There is a guaranty in the bill j of the standard return and against deficits continuing for six months af ter tho railways are returned to their 'H owners; but Its necessity Is obIous. H Ho said tho bill merely directed the interstate commerce commission that inasfar as was possible it should make rates that would bring a return of 6-,j per cent "upon the true value of the railroad property." The income would depend wholly upon location of th roads, the Iowa Senator pointed out, trl asserting that some roads would earn fl not more than two per cent. frl Labor Provision. J fll "With respect to the labor provis ions of the conference report. Senator ' Cummins added. "I am utterly unable , to understand the opposition v.hic'i they have aroused apiong labor for they leave all freo men, whether em (Ployes or employers, to do whatsoever !H thev please at any time, at any place or under any circumstances." '1 I Senator Cummins said that $1,250,- l 000.000 had been appropriated for ox penditure by the railroad administra J 'tion. Another Appropriation. "We are now appropriating 5500,000, 000 more." he said, "and before the close of tho present fiscal year we will bo compelled lo make another appropri- li ntion of not less than $-(00,000,OOu; In ;;H all. ?2.150;000,000. Of this vast sum, It is expected the railroads will, during the next decade, pay to the govern- 'H I ment of the advances so made, sum? i ' .H J which in the aggregate will reduce the 'government's expenditures lo some- V'il j thing like $850,000,000 and this will jl represent tho loss concurred iu two !l years and two months of government jjl 'operation." 'The amounts I have given you are I government estimates and do not in- r' elude claims asserted by the railroads H 'and denied by the railroad administra ' 'H tion." oo IH MARINE GAINS FAME AS REGULAR ROUDIN) i PARRIS ISLAND, S. C, Feb. 23 I.I By permitting himself to bclashed with a sea-going hammock laashlng, using all tfie turns and hitches known to an jH old-time marine, and then getting loos 3 in full view of his comrades, Private James Kelly, mnrino corps, today es tablished a new record as "The Hon dini of the Marines." t Kelly hails fromSt. Louis, Mo., and has Just enlisted in the marines. He. I'H is able to break ten-penny nails with his tecthand chew up electric llsht iH bulbt.