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The Wisconsin tobacco reporter. (Edgerton, Wis.) 1877-1950, July 30, 1920, Image 3

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Persistent link: https://chroniclingamerica.loc.gov/lccn/sn86086586/1920-07-30/ed-1/seq-3/

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er Billion Is Cut From Public
Debt, Treasury Reports.
tatement Covering Operations of the
Government for Fiscal Year Ended
June 30 Is Issued by Sec
retary Houston.
Washington, July 27. —The govern
ment’s income for the fiscal year end
ag June 30, exceeded its expenses for
he first time in three years,
louston declared iu a statement in
vhich he announced a reduction in
he gross public debt and forecast a
urther “important reduction” tfor this
x>ming twelve months.
While the annual operations of the
government showed a surplus of $291,-
221,547, the more Important change,
treasury officials said, was the cut
ting of $1,185,184,092 from the gross
public debt during the year. The nt>
tion debt aggregated $24,299,321,467
on June 30 and $25,484,506,160 a year
previously, but In the meantime the
obligations of the nation had mounted
to their highest p0int—526,596,701,648
-—on August 31—due to the operations
Incident to the handling of maturities
of treasury certificates of indebted
ness. Thus, a reduction of $2,297,-
380,180 from the peak is shown.
Receipts Total $6,694,565,388.
Outside of the transactions involv
ing the gross debt, treasury receipts
for the year aggregated $6,694,565,-
388, while expenditures totaled $6,408,-
343,841. The statement revealed, how
ever, that the surplus was due large
ly to a partial liquidation of the as
sets of the war finance corporation.
Exclusive of the special income from
that source, there was a deficit of
$71,879,072 in the actual handling of
income and expenditures.
“The operations incident to the
handling of the maturities of treasury
certificates from June 15 to July 15,
have now been completed,” the state
ment said, “and have resulted in fur
ther reductions in both the gross debt
and the floating debt of the United
Stales. The gross debt on June 30,
1920, on the basis of daily treasury
statements, amounted to $24,298,321,-
467, as against $25,484,506,160 at the
end of the previous fiscal year on June
30, 1919, and $26,596,701,648 on Aug
ust 31, 1919, when the gross debt was
at its peak.
Deduction of $2,297,380,180.
In other words, the gross debt on
June 30, 1920, has been reduced by
$2,297,880,180, from its peak on Aug
ust 31, 1919, and by $1,185,184,092
from the figure on June 30, 1919. On
July 20, 1920, on the basis of dally
treasury statements, the gross debt
amounted to $24,264,309,821, showing
a further reduction of about $35,000,-
000 after taking into account the $201,-
061,500 face amount of treasury cer
tificates Issued under date of July 15.
The floating debt (loan and tax cer
tificates unmtAured) on June 30, 1920,
amounted to $2,485,552,500, as against
$3,267,878,500 at the close of the previ
ous fiscal year on June 80, 1919, and
$3,9572225,000 on August 31, 1919. On
July 20, 1920, the loan and tax cer
tificates outstanding amounted to $2,-
458.916,500, showing a further reduc
tion of about $31,000,000, as the result
of the redemption of loan certifictAes
since the close of the fiscal year, 1920,
In the amount of some $232,000,000,
and the issue of loan and tax certifi
cates dated July 15, in the amount of
some $201,000,000.
New Treasury Issues Planned.
“Further issues of treasury certifi
cates will be offered as necessary from
time to time to provide for the cur
rent requirements of the government,
and to meet maturities of treasury
certificates now outstanding.
“The amounts of these issues will
depend in large measure upon the
extent of the burdens Imposed upon
the treasury by the transportation act,
1920. in connection with the return of
the railroads to private control, in
cluding particularly the liability on
the guaranty, which is as yet unascer
tainable. While, as the result of new
issues of treasury certificates in the
intervals between the large income
and profits tax Installments, there may
be temporary increases in both gross
debt and floating debt, the treasury
expects, though it is impossible to
speak positively, that both gross debt
and floating debt will, during the first
two quarters of the current fiscal year,
be reduced below the figures outstand
ing on June 30, 1920, and that unless
additions! burdens should be imposed
by legislation there will be an im
portant further reduction in the last
two quarters of the fiscal year.”
Four Hundred and Eighteen Thousand
Travel to Wet Mexico From
Dry U. S.
El Paso, Tex., July 26. —During the
fiscal year ending July 1, 1920, 418,735
persons crossed into Mexico as “tour
Woman Kills Neighbor.
St. Louis, July 27. —Frank Smroka,
48 years old, was shot and instantlj
killed here by Mrs. Ida’ Shea, 24, whil*
engaged In a fight with Mrs. Shea’i
husband, George B. Shea. A neigh
borhood quarrel caused the trouble.
Sir John Anderson, who holds the
difficult position of under secretary for
Ireland in the British cabinet.
Scouting Detachments of the Red
Army Reported Within Forty
Miles of Border.
Berlin, July 23.—Scouting detach
ments of the soviet armies are report
ed within about forty miles of the
German border, and it is expected
Trotzky’s cavalry will be at the East
Prussian border in 48 hours. Coinci
dentally with this advance the north
wing of the Polish army is being com
pletely turned.
Fear of a soviet sweep across the
border has intensified the clamor for
a German army of defense, while the
radical element in East Prussia are
looking toward co-operation with the
bolshevikl. German military experts
call Trotzky’s army the most powerful
war machine in the world.
The German minister of defense is
already placing detachments of reichs
wehr at exposed points in East Prus
‘Til talk armistice terms with you
in Warsaw.”
With these words “Comrade” Tuch
echewski, the young generalissimo of
the soviet forces, who has replaced
General Brusiloff, dismissed a Polish
white flag mission which demanded i
cessation of hostilities in accordance
with the British proposal.
Ten Million Dollar Deal to Unite
Transportation Companies Between
Chicago and Buffalo.
Chicago, July 26. —Plans have been
practically completed for a $10,000,000
merger of lake steamship companies,
which will control fifteen of the larg
est lake steamers under one flag, and
dominate the trade between Chicago ;
and other porta as far east as Buf
The negotiations, which have been
pending for a year, are expected to
be closed upon the return to Chicago
of A. W. Goodrich, head of the Good
rich Transit company. The merger,
in effect, will be the outright purchase
by the Goodrich company of the prop
erties of the Milwaukee Terminal com
pany and the Chicago, Racine and j
Milwaukee lines, with its affiliated cor
porations, the Northern Michigan j
Transportation company and the Wi- i
consin Transit company.
The name of the new company, !
which will be Incorporated under the j
laws of Indiana, has not been selected. !
According to E. W. Seymour of Evans
ton, head of the Chicago, Racine and
Milwaukee line, the merger will neith
er reduce nor increase freight and
passenger tariffs.
Notables and Diplomats Attend Serv
ices in the American Church
at Paris.
Paris, July 27. —The funeral serv- j
ices for the late William Kissam Van- j
derbilt, who died here on Thursday !
last, were held in the American church ;
of the Holy Trin ty. The Episcopal !
service ww read by Rev. Frederick i
W. Beekman, rector of the church, as- 1
sisted by Rev. Stanley Blunt, pastor of
the church, attended by members of
the British embassy.
After the services, which were at
tended by all the employees of the
Vanderbilt racing stables, as well as
the American a*nd British ambassadors
and French and American notables,
particularly representatives of all the
French racing societies, the body was
carried to the mortuary chapel be
neath the church. The body will re
main in the chapel until it is sent to
the United States.
Jonas Under Arrest.
New York, July 26. —Ruppert D. Jtb
nas, 52, white minister to nigroes and
sought as one of the leaders in the
“Abyssinian riots in Chicago, June 29,
in which Joseph Holt and Robert Law
son Rose were killed, has been arrest
ed here.
Interesting te Note Just How the One
May Be Allowed to Dominate
the Other.
On the first cold night of autumn a
man of Detroit went about it to lock
up his house. As he turned the key
in the front door a collie dog that
had huddled against the screen slunk
down the steps and lay down in a
drift of withered leaves near the porch.
The man saw the wind whip his fur.
The dog had an air of discourage
Cutting short an impulse to invite
the beast in out of the cold, argu
ing that the dog’s hair was long and
might be dirty, and convincing him
self that it probably Rad a home near
by, the man turned out the lights and
went upstairs to bed.
But he could not sleep from think
ing of the dog. He returned to the
front door after a half hour, and,
seeing nothing of the beast, he stepped
out on the porch to look further. He
was remorseful for what had grown
to seem an act of brutality that the
dog would not have committed against
Asa result of his brief search, which
was fruitless, the man took sick and
was laid up with pneumonia. He had
been unable to find his slippers when
he went downstairs and had stood too
long on the porch in the cold.
There were thus three influences at
work in the man: The original im
pulse to admit the dog, the culti
vated tendency to restrain an im
pulse as something unreasonable,
and the final reasoned decision to act.
It is plain that in the world most
persons who obey their impulses are
persons to whom the third influence,
the reasoned decision to act, is not
in agreement with the impulse and
hence results in only remorse or re
gret over having allowed the impulse
to sway them. While, as in the case
of the man and the dog, those whose
impulses are dependable for the most
part, that is, in accord with rational
theories of conduct, are persons who
shun impulsive action, for one reason
or another, persons who allow im
pulses to be only suggestion for an
act, and who consequently act too
late. —Detroit News.
How One Common-Sense Parent Set
Up a “Store” to Teach His Heir
to Figure.
We heard recently of a boy ten
years old who was very backward in
arithmetic and got poor marks at
school. His father finally decided to
help him by actual experience.
He started him in business by keep
ing a grocery store in the attic of their
home. The boy does all his own buy
ing, selects his goods and keeps a
stock on hand. The mother buys her
supplies from him at the regular price;
he keeps the profit for his own spend
ing money.
The father insists that he keep his
own ledger and keep it accurately or
the business will be stopped.
The boy enjoys the idea of the store
and his own responsibility, so has
eagerly learned from his father the
way to buy and sell, make change,
figure profits and keep simple ac
counts. The result is shown by his
interest in arithmetic at school and
by much higher marks. He has great
ly improved in the school work, be
sides getting valuable training foi
business. —Parents’ Magazine.
Construction of Coral Reefs.
The greatest depth at which the
reef-building corals can work is be
tween twenty and thirty fathoms. Con
fined to water, the temperature of
which in the coldest weather does not
fall below 68 degrees F„ coral reefs
are abundant in the Pacific and Indian
oceans and near the West Indies, and
are most plentiful where volcanic up
heavals are not looked upon as extra
ordinary. The foundation of the living
coral, which extends in many reefs far
below this depth, is no longer living,
the once elevated portion of the sea
bed, the peaks upon which the now
dead foundations rest, having sub
sided, the upper surface of the coral
reef being built up steadily to keep
pace with the subsidence. Ceasing to
build upward when the surface of the
water is almost reached, the coral
polyps build outward, thus increasing
the breadth of the reef.
Utilitarianism Not All.
It is perhaps well that we live our
lives as we do. The progress of the
race through the centuries has been
such that we have arrived at the point
where we have been able to produce
an admixture of spiritual and physical
attributes which compel a need for lux
uries. He is poor in soul indeed who
ignores the appeal to the esthetic and
breathes only the atmosphere of utili
tarianism. If we were all like such
a person, many wheels of industry
would quit humming and we would
reduce ourselves close to the level of
the primitive man. —Exchange.
World's Highest Village.
A writer in a recent issue of L’As
tronomie calls attention to a tiny vil
lage in Kashmir, which holds the lofty
distinction of being the highest on
earth. This village, which bears the
name of Karzok, is located at latitude
32 degrees 58 minutes 0.90 seconds
north and longitude 78 degrees 18 min
utes 13.95 seconds east from Green
wich. Its altitude is 4,556 meters, or
14,946 feet. The village contains a few
wretched stone houses and a small
Buddhist monastery
Come See This Book of “Cornell Interiors”
''Cornell soloed our space problem,” says
the factory superintendent. Millions _ of
feet of waste space are being converted into
useful quarters this way. Vibrations of ma
chines cannot cause Cornell to crack or fall
We recommend Cornell for new construction, re
modeling and repairing because there is nothing
cleaner, more sanitary and attractive, nor so inex
Edgerton, Wisconsin
Ford Deliveries
A False Report Has BeenlSpread to the
Effect That Ford Cars are Not to Had for Early Delivery
This report is evidently based on delivery conditions in the west and the
southwest, far distant from manufacturing and distributing centers.
The freight congestion at Detroit is beyond a doubt demoralizing regular
shipments of automobiles, but live Wisconsin Ford Dealers have taken
advantage of the situation by organizing ‘‘Drive Outs” from the Detroit Plant,
regardless of the expense, thereby enabling them to supply their customers and
territories wtth a good share of the present production.
How long this state of affairs will last is not known, but until conditions
do change, ready to make almost immediate delivery.
To take advantage of the long summer driving season therefore, we sug
gest that you register your order immediately, as the opening of the freight
tie-up will mean that distant points will receive their allotment of cars to fill
the thousands of orders on file, and nearby points like those in Wisconsin may
be temporarily embarrassed.
i~~ri'' "" "\ ~~ ■—i (MBBWMWMMMWIMBWMi MMiI'IHI Mi
Doyouwant your friends to avoid you? The; 7
will certainly do so when your breath is b:
There is no excuse for anyone having a bad
breath. It is caused by disorders of the stomach
which can be corrected by taking Chamberlain's
Tablets. Many have been permanently cured of
stomach troubles by the use of these tablets after
years of suffering. Price 25 cents per bottle.
Chainberlaints Tablets,
We have just received this new collec
tion of views that shows the variety and
charm of paneled interiors so easily ob
tained in any room by using Cornell-
Wood-Board instead of lath and plaster.
Come in and see the finished effects that
you can reproduce in your home, store,
office, factory or garage with “Cornell
32” or “Cornell 48” widths. Corned is
everywhere admired because of its
handsome “Oatmeal Finish” not found
in other wallboards.
And Cornell's “Triple-Sizing” process
gives triple protection against moisture,
expansion and contraction.
pensive. It is easily applied with hammer and nails
right to the joists and studding or over damaged
plaster. Come in now and look over the ideas in this new book
"No Interruptions During Alterations' >
where Cornell-Wood-Board is used for
walls, ceilings, partitions, exhibition booths
or showrooms instead of lath and plaster.
No muss; no waiting weeks for walls to dry
Dealer in Real Estate*
Edgerton, Wisconsin,
for sale or exchange.
E. Nl. LADD,
Attorney and Counsellor-at-Law,
Edgerton, Wisconsiu
Costs less per gallon-spreads rw,ce as fast "-'I
Covers over twice as much surface
Permanently preserves the wood against decay
Saves over one-half the cost of pamting your bam
Backed by a written guarantee
Hain, Livick & Arthur

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