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The Pensacola journal. (Pensacola, Fla.) 1898-1985, March 12, 1920, Image 3

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RIETIES. Julius H. Barnes, United States wheat
director, has issued the following state
ment regarding the plan approved by
congress which authorizes the United
States Grain Corporation to sell 5.000,
OCO barrels of flour on credit to the
nations of Central Europe wRich ' are
feeing starvation.
"The grain corporation for two years
has protected the presidential wheat
price guaranty by purchase "of wheat
and wheat flour at the guarantee basis.
In three years. Its purchases of wheat
and flour have amounted to over seven
hundred million bushels. It is proba
b'e that in buying continuously at the
guarantee price In this manner it has
saved the farmers of the United States
over one billion dollars which they
would have lost, had the price, under
the pressure of crop movement, sunk
below the guarantee.
"Having thus protected the national
promise to the farmer, the grain cor
poration naa no right to hoard such
purchases when prices advanced, and
therefore its purchases of wheat and
flour were immediately for sale, at all
tinnes, basis of cost plus accrued
charges. This policy of buying only at
the guarantee price prevented any pos
sibility of dealer, miller, or speculator
rr selling to the grain corporation at
advanced prices.
In hese operations the grain cor
poration accumulated, as far back as
last October, a stock of flour exceeding
five million barrels. For almost six
months it has tried to sell this flour
ftr cash, basis of cost plus accrued
charges, at home and abroad. It has
just completed an extensive advertising
campaign in America which did ex
pand the use of soft winter flour meas
urably; iut its sales, in all directions,
have not more than equalled the cur
rent purchases of flour which It was
obliged to make to prevent the firmer
price sinking below the national guar
antee. "The wheat crop last year was-pe-'
culiar; a large yield of soft winter
wheat, and a small yield of strcng
sr ring wheats. The strong wheats are
required to make certain qualities of
flour which have been popular in
Amerfca and that character of wheat
has sold, by supply-and-demand, far
above the guarantee, and. necessarily,
that quality of flour far above the
price asked for the soft winter flours.
Broadly speaking, tbcre hp pot been
a day when the flour consumers of the
United States could not'buy some char
acter of standard flour at the equiva
lent of the guarantee wheat price, even
though special qualities of flour were
at the same time selling far above.
There la do reason whv-mir Bonla
should not exercise -a preference Jn
that way if they wish to, but they
mast be prepared to pay for their pref
erence ior premium iiours wnen na
ture's yields are so erratic.
"Now we are approaching warm
weather, with over five million barrels
of flour in the hands of the grain cor
poration, bought on the guarantee
basis. We have exhausted our efforts
to sell this flour for cash, at home and
abroad. I have told the house rules
committee that under the obligations
imposed on me by the wheat guaranty
act, I must use the authority to sell
for credit, when sales for cash are not
possible. Markets abroad needing this
Xlcur are those of nations that are
stripped of money, but .whose credit,
resting on their national character and
national resources, will undoubtedly be
releemed in time. In conference,
therefore, with the treasury and state
departments, the grain corporation will
work out the method of delivering this
flour to these, needy sections abroad
and accepting their obligations for It.
Columbia, S. C, Mar. 11. South
Carolina is threatened with a serious
coal famine, reports from various
parts of the state indicate. One large
Industry here always has been forced
to close down on account of the com
plete exhaustion of the local supply.
make only one cupftil
ortlie xisual table drink
would cause considerable
waste, but jmi can make
one.o ip-or v tog cups of"
without a hit of -waste
c7his drink, of dratifyin&
flavor is made rnstarxtly
ateaspoonTul in a cup.
with. Ixot water added.
Aridjou can suit any taste
lyvaiying amount ixsed.
Made jyyrVosixLm Cereal Coxnparwv
' Battle. Ctfeelo. Michigan.
The railroads of the United States
were returned to their owners on
March 1, under the terms of the
Transportation Act, 1920, which the
president signed on February 28th. The
new legislation embodies the plan and
conditions upon which the president
relinquishes control, and then, ', sets
forth arrangements for the future
from many of the re3trictions which
powers of the Interstate Commerce
Commission, clso frees the carriers
from dnay of the restrictions which
hampered economy and efficiency be
fore the roads were taken over by
the government. It is impossible to
give here even a summary of the whole
act. Such a summary, together with
the full text for those who wish to
make a more Intensive study of the
law, has been prepared In booklet
form by the Guaranty Trust Company
of New York and may be had upon
request to the Publicity Department.
The comprehensiveness of the legis
lation and the attempt herein dis
closed to reach a solution of the roost
perplexing problems relating to. the
railroads will, however, be suggested
by outlining broadly some of Its
features. '"""
Powers of Commerce Commission.
The membership of the Interstate
Commerce Commission is increased
from 9 to 11; and its powers are great
ly Increased. It is to decide between
ZM per cent and 6 per cent., as to
which will be a fair return to the car
riers on the value of their property
during J920 and 1921. Thereafter the
percentage of return that will be fair
is left entirely to the commission, as
well as the decision as to the values
upon which this return will be com
puted, the latter decision being, how
ever, subject to review by the courts.
The commission may make a rate for
the entire country or different, rates
for such regions as it may determine
upon. Questions as to the efficiency
and economy of management by the
carriers and as to what constitutes
reasonable expenditures for mainte
nance lie within the discretion ef he
It may order the construction of new
lines or abandon others. If it believes
these steps to be In the public inter
est. After July 1 no carrier may issue
any stocks, bonds, or other securities
or assume any obligation with respect
to the securities of others, without the
approval of the commission. This pro
vision does not apply, however, to
notes maturing within two years of the
date thereof, and aggregating not more
than five per cent, of the par value of
the carrier's securities then outstand
ing. Loans from a new revolving fund
will also come under the commission's
supervision.. It will .be readily seen
that the restoration of railroad credit
will be profoundly affected, not only
by the attitude of the commission to
ward issues of securities and the ob
taining of loans by a carrier, but also
by the spirit in which it undertakes its
new duties and privileges under the
The commission is directed to es
tablish rates which will yield the car
riers an annual net railway operat
ing income equal to a fair return upon
the aggregate value of the carrier's
property used in transportation ser
vice. The aggregate value of the pron.
erty and the fair return thereon are
to be determined and published from
time to time, but for 1920 and 1921
the commission Is directed by the act
to take 5 per cent of aggregate value
as a fair return. The commission may
Increase this return to 6 per cent, to
cover expenditures chargeable to
capital account. In determining ag
gregate value, only that consideration
is to be given to property investment
accounts which they are entitled to in
i establishing value for rate-making
purposes, it any carrier earns a net
operating income in excess of 6 per
cent., one half of such excess is to be
placed in a reserve fund maintained by
the carrier, until it equals 5 per cent,
of the value of the property; the other
half of the excess goes to a contingent
fund out . of which the commission
will make loans to carriers to meet
expenditures for capital account. After
the carrier's reserve reaches 5 per cent,
of property value, one half of such ex-
V- LHecv.o, rr oh, hello, jones (
jL4j73r G.veRerr: how at?f you regime
WHY, ib ibr so w lA. this Boftp i s
"AHX watt-rain
cess income over 6 per cent, as the
carrier may earn, may 4e used for any
lawful purpose. The commission may
change any rate, fare, charge, classi
fication, regulation, or practice which
it finds causes any undue or unrea
sonable advantage, preference, or pre
judice as between persons or localities
in interstate, intrastate1, or foreign
Mergers and Pools.
The commission may approve ac
quisition by one carrier of the control
of another by lease or purchase of
stock, or in any other manner not in
volving the consolidation of such
carriers into a single system for own
ership -and operation. Within pre
scribed limitations, the commission is
directed to prepare tfnd adopt a-plan
for the consolidation of the v railway
properties of the country into a lim
ited number of systems. Subject to
the commission's approval, and to the
requirements that the capital of the
consolidated corporation shall not ex
ceed the value of the consolidated
properties as determined by the com
mission, voluntary consolidations or
mergers may be arranged. Division
of traffic or earnings may be per
mitted by the commission, if it believes
such division will make for better ser
vice and economy in operation, and
will not unduly restrain competition.
The commission may require joint or
common use of terminals, including
maln-lihe tracks for a reasonable dis
tance. Carriers and Employes.
As a means of settling disputes, the
law provides for the establishment of
RailroO Boards of Labor Adjustment
by agreement between carriers and
employes. Each such Adjustment
Board is to hear and decide disputes
Involving only such grievances, rules. !
or working conditions, as have notj
been decided in conference oft repre
sentatives of carriers and - employes.
The . carrier,; organized employes, or
unorganized employes may" bring dis
putes before the Adjustment Board, the
board may initiate a hearing, or the j
jLaDor uoara may request ii wnen mis
board thinks the dispute likely to in
terrupt commerce. This Labor Board
is to . be composed of nine members, j
three representing employes and sub- J
ordinate officials, three representing '
the carriers, and three representing
the public. ,The Labor Board will
hear and ,decide disputes when eny
Adjustment Board certifies its own
inability to do so. It is also to
hear and decide disputes with re
spect to wages or salaries not decided
by conference between carriers and
their employes. Broad powers of In
vestigation are conferred upon the
Labor Board and penalities may be im
posed for thwarting Its investigations,
but no penalty is provided for the vio
lation of a decisis. Qf the Labor Board.
Each carrier is required to continue
the present wage scales, until Septem
ber 1 next.
Tallahassee. Mar. 11. (Special.)
The possibility of the convening of the
legislature In extraordinary session
within the near future Is the subject
of much talk in the capital city. In
deed, there apptX's to be a good deal
of sentiment in favor of calling an
extra session for consideration of the
Susan B. Anthony amendment to the
Federal Constitution, and it Is said
that friends of the governor will urge
him to call this extra session.
Pay When Cured
Dr. Burkhart wants yoa -to writ Hi-,
xoday for a treatment of Ir. Surkhart'a
Vegetable Compound for Liver. Kidney,
gtomach Trouble, Constipation. Catarrh.
Rheumatism. Pay when cured. Don't
xnws this grandest of remedies and on
eSerfjj preventative for Grip. Flu- AddresT
fa JXln St.. Cin'tl. O. For sale at all
jnur Stares. Kday treatment 25c A dr.
I :
Pensacola " , '
Pensacola, Mar. 11. Trading on the
open market has been discontinued.
Receipts, spirits 3. rosin 81; shipments,
--i- i aaa oua o !
spirits 123, rosin 444; stocks, spirits
4S83, rosin 37,985.
' Savannah
Savannah. Mar. 11. Spirits firm at
$2.05 with sales of 267. Rosin firm
with sales of 267. Receipts, spirits 10,
rosin 265; shipments, spirits 63, rosin
2,669; stocks, spirits 4,344, rosin 30,471.
Quotations were as -4t'.lows: WW;
WGil8.75,N. M- 18.50, K, I. F, E, D
18.00, II, G 18.00-18.05, B 17.00. ;
Jacksonville, Mar. 11. Spirits firm
at $2.05 with sales of 76. Rosin firm
with sales of 412. Receipts, spirits
27, rosin 205; shipments, spirits 62,
rosin 1,311; stocks, spirits 1,079, rosin
Quotations were as follows: WW
19.00. WG 18.75, N 18.40, M 18.25, K, I,
H, G, F, E, D 18.00, B 17.00.
j Do You Lack
Strength and Energy?
Every mother knows that the con
stant care, lifting the baby, and
loss of sleep, with sometimes pro
longed nursing1 are a severe strain
on the mother's system.
Amusing the baby all day long
and then teing up half the night
when baby is feverish from teeth
ing or perhaps some serious illness,
result m backache, headache, weak
ness and nervous exhaustion. Yet
ever the mother love watches over
the Tittle one regardless of aching
head and wearied body.
But for her baby's sake every
mother should keep strong and vig
orous. ' She should renew her
strength to meet this steady sap
ping of her vitality.
; REOLO Is a wonderful tonic and
blood builder. It makes rich, red,
healthy blood, full of life-giving
oxygen. Iron, and the cell-salts that
must be supplied to the cells of the
body to maintain health and vigor.
REOLO restores the glow of health
to the pale cheeks, and gives re
newed strength and energy.
If you are nervous, run down and
feel all tired out, the systematic
tone np your nervous system, stim
ulate the circulation of the blood
and send through your entire body
a stream of rich, red blood.
TREATMENT today and yon will
be delighted with the steady im
provement in your health and
strength. The large psckage con
tains 100 tablets and only costs
jOne Dollar.
"The Rexall Store
Pensacola, Florida.
New Tork, Mar. 11.- Cotton futures
opened firm. March 39 64; May 36.33';
July 33.80; October 31.45; December
30.68. ... . ,
New York, Mar. 11. Cotton closed
steady; closing bid, March 39.50; May
36.53; July 33J7; October 31.55; De
cember 30.60.
New Orleans, Mar. 11. The cotton
market opened -steady. March 39.00;
May 37.01; July 34.17; October 31.23;
December 30.55.
Liverpool, Mar. -11. Cotton spot
quiet; prices higher. Good middling
3D.10; fully middling 29.10; middling,
28.10; low middling 24.80; good ordin
ary 21.60; ordinary 20.60.
Sales 4,000 bales, including 3,300
No receipts.
Futures closed steady. March 26.45;
May 25.36; July 24.38; October 22.41;
December 21.56; January 21.26.
New Orleans, Mar. 11. The con
tinued rise in foreign exchange and
the wet weather over the greater part
of the belt- put the price of cotton
sharply higher today. In" the first half
hour of business the trading months
gained 32 to 42 points, May rising to
37.14. The Initial bulge of 7 cents in
the rate of sterling caused much cov
ering for short account.
The forecast of wet weather for the
Eastern belt and colder weather for
the "Western tielt lnorspd th dpirtsnil
for contracts and late in the morning J
prices were, 43 to 55 points higher thau
the finals of yesterday. May sold as
high as 37.25. Toward noon consider
able realizing from the long side was
coming on the market.
In the afternoon realizing increased
and at 1 o'clock the net advance was
; reduced to 18 to 24 points. The market
retained a steady tone because of the
large export movement, foreign clear
ances up to the early afternoon
amounting to 41,940 bales.
New York, Mar. 11. The cotton
market showed renewed firmness dur
ing today's early trading, particularly
in the new crop months which were
influenced by continued unfavorable
weather and a broadening demand
j from trade and commission house
sources. The early cables from Liver
pool were lower owing to the advance
in sterling, but the market there ral
lied sharply just before the local open
ing and first prices were firm here
at an advance of 5 to 32 points. May
sold at 36.52 and October at 31.70 or
25 to 45 points net higher.
The advance extended to 36.63 for
middle of the morning, making a net
gain of 30 to 65 points on the general
list and new high ground for tha
movement while March sold at 39.75 qr
a new high record. There was realis
ing enough to check the upward move
ment at this level, but business con
tinued fairly active and prices show
ed reactions' of only 13 or 14 points
around midday, - -. .
The Journal is glad to print
short communications from read
ers en any topic of interest.
Letters should be typewritten If
possible, and double spaced.
To The Editor:
I take advantage through the col
umns of your paper to compliment the
Pensacola News for their support to
the students of the High School, while
they are striving for a decent glid
ing. It seems that several of the stu
dents were surprised by a policeman
while engaging in a game of dice dur
ing the . recess period Tuesday. The
News-made quite a story out of this
by publishing the article in headline
form on the front page. This is nice
of the News; knock all you can; don't
boost Pensacola; you would not be a
good slacker, if you didn't lay stress
on these things, because we have not
a decent building and every student
leaves it behind whenever possible.
The High School has been getting out
some good athletic material, but if
the people had to find out this through
the News they would be in utter dark
ness as to this fact. For on the same
day the article about the crap game
was published in headlines on the
front page; on the Inside was found
in sma11 Print "The High School base-
ball team have been practicing and
promise to have a good team." I wonder
how many readers saw this? If any
one thinks the News believes in Pen
sacola, and a new and decent High
School building, let's hear from them.
I thank you.
The Escambia County Good Roads
Association will meet in the office of
F. W. Marsh. Federal building at 11
o'clock this morning to take up the
question of sending a delegation to
Mobile, March 22 and also to decide
what form the-request to Capt. Christy
for an airplane shall take. It is ex
pected, a committee will call on
naval commandant.
Guticura Soap
The Velvet Touch
9m,Ofntaat.Talaa 2Re.nwfeer. Totmmpl
ijili mm rarimrt L.frrrtnrUi,Ii,t 1. MaX4m,Maa.
and $50.00 in Cash Premiums
Write for particulars. Brooders, 23
Incubating and Brooding Plans, with
Philo Brand Mash Feed ;
ui aim oti a. itii r .....
Philo Feeding
C-738 W. Bay St. NATIONAL
Easter is only three weeks
away, so do your shopping
now. Our entire stock was
selected with due regards
to prevailing styles, We
want all of Pensacola well
dressed for Easter
and to prove it we are
. prepared to sell you
Spring. Wearables, on
Credit at Cash Prices. v
Here y,ou will find
and in fact everything- you need for
Gentry-Strickland Co.
Largest Credit Clothing Store."
Tfso Tichlo
ClaCioG You
Stops Tho TloMo
By Hoalln& Tho Throat
35c per Bottle
A frao Box of
Q-Pcn-Traio Galvo
(Optni tfci Pores tnd Pemtutii)
For Chest Colds, Head Colds
and Croup, is enclosed with every
bottle of Hayes' Healing Honey.
You get the Cough Syrup, the Salve,
and some Liver Pilla for one price, 35c
Made, Recommended and Guaranteed
to the Public by
Paris Medicine Company
Manufacture of
Laxative Bromo Quinine Tablets and
Grove's Tasteless Cbill Tonic,
Efficient Service. Moderate Terms
Phone 1199
"la the Heart of Pensacola"
177 Phonas 17S
in our April Egg Laying Contest
to 100 chickens, $4.00 to $9.50. Phllo
instructions ,?3.00. Free with f 10 order.
..14,00 per 100 lbs.
Directions FREE
.f4.50 per 100 lbs.
Jacksonville, Fla.

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