Pullman herald. [volume], December 10, 1920, Page 8, Image 8

About Pullman herald. [volume] (Pullman, W.T. [Wash.]) 1888-1989

Image provided by: Washington State Library; Olympia, WA

                
Page. Fight
JUDGE GEORGE T. REID
TALKS R. R. FINANCE
The Fruits of Honest Toil Should
Never Be Lightly Considered
Ily Helen Johnson
Introduced by Dean 0 L. Waller as
"A man helping to do the world's j
thinking," Judge Geo. T. Reid, vico
president of the Northern Pacific
railway, addressed the students and
faculty last Tuesday morning during
chapel hour. Tho subject of his ad
dress was "The Fundamental Princi
ples of Railroad Finances."
"There is nothing large and mys
terious about railroad finances," said
Judge Reld at the beginning of his i
instructive talk. "The fundamental]
principles involved in large affairs is !
the same as in small afafirs. To]
build a railroad requires vast sums
of money; to keep it up requires the
constant use of large Ruins of money."
That this large Bum of money is
not in the hands of ,i few Fabulously
wealthy men is derived From a large
number of people holding bonds or
stocks, was the theme of the intro
duction to railroad finances. There
are two main methods for acquiring
the needed money; the selling of
bonds and stocks. Bonds, because
they draw an annual stipulated inter
est whether a concern is paying or
not, are sold largely to the conserva
tive class who cannot afford to lose
In order not to come under the name
"watered bonds," they should not be
sold to exceed hall of the total capi
tal.
Stocks are Bold to the speculative
class who are not afraid to take a
chance. They are of two kinds, pre
ferred and common. Preferred stock
holders are entitled W> a fixed divi
dend if the railroad is paying, and
they get this return before the own
ers of common stock. The preferred
stockholders, however, forfeit the"
right to divide the spoils If the in
come is large. While not so sure
an Investment, In many cases com
mon stock brings greater price.
Cannot Force Investment
In 1887 the interstate commerce
act, which was largely experimental
and unimportant except as a forerun
ner of other acts, was passed. Since
that time the legislature has been
patching up this act. In 1910 it was
given power to establish the rate for
goods and persona, and determine
how much the income should be
Nothing, however, stipulated what
the outgo should be. Rates went
down until Investigators could see
that insufficient money was coming
in. This proved once more the one
weakness in attempts of legislature
to regulate matters of this kind. No
man has yet devised a scheme to
make others invest money. They can
be induced to buy if a fair return is
guaranteed, but they cannot, be
forced. A man's own sense of self
preservation guides him In money in
vestment.
"People, after all, do not depart
very far from Inherent fundamental
Instincts of life," was Judge Reid'a
argument against communism or any
other theory that preaches the divi
sion of the fruits of honest toil
"Self-preservation is a fundamental
instinct, as is also the desire to labor
For a reward.
"The Russians failed because they
disregard) their fundamental prin
ciples." he pointed out. They print
ed extra paper money, but with no
"wealth back of the paper, it was al
most worthless In Russia today a
suit costs 150,000; dress shoes, $35,
--000; a pound of butter, $1,250; a
pound of bacon, $1,500, and a loaf
of bread, $200. A man going into
a restaurant pays $500 for a break
fast of ham and egg -
The amount of circulation has
nothing to do with money value. it
is the clothes, mines, staples and food
back of the money that give it value.
"Such is the end," said Judge Reld,
'when a country leaves common
sense at home and speculates from
a false promise."
To turn to the railroad problem
The Investigators saw what was com
ing; they stopped buying securities.
in 1920 the transportation act
gave the interstate commerce com
mission power to establish rales for
both freight and passengers on a
scale that should produce 5' £ per
cent upon the value of the prop
devoted to public use This is the
financial scheme under which rail
toads are operated today.
Up until November 12. 10 20, there
was a noticeable cat shortage In the
United States. Since that day there
has been an over supply. To offset
the loss ':, income, it is necessary to
curtail both cars and men.
Whether be new rates will sue-!
ceed or not remains to be seen. If
this plan does not succeed some other
must be devised to secure funds to
successfully expand. Teh bill, how
ever, also provides that the govern
ment may lend money to railroads at
six per cent.
"I came at the invitation of your
saJßS**n
Cff^i (^^^^Km^\ $& ijGreenawalt-FolgerCo.
Silk Hosiery
MS Handkerchiefs \™ s • XyM
jfrflh Are always a popular gift, ■ V V*^-
wSSf-'*-' • • i *i *i our sunn,y is limited _J«r2S=sr~---- l *\\\
«^g*P^ w^ i inexpensive and easily mail- and only the cany --^^•^^t^^y)
4SKs^^ cd. We have a big stock of -shoppers wi" be able ft
\!r vc< /7i_ %w'J'^fi i 11 l*rr ll* i to get Phoenix Hosi- [
.N-i^^f^f nandkerchieis tor ladies and m -. \)
>fp gentlemen.
GIFT SUGGESTIONS Z^Ti " "
- DOLLS
For Men For Ladies - „ . . ,
gloves PARASOLS Every little girl wants a new
doll for Christmas. Santa
NECKWEAR GLOVES r-i 'ii r j i •
Claus will nnd a big assort-
SCARFS wardrobe trunks me nt at this store, and very
HANDKERCHIEFS nr „^. T J_|l„ „__
silk waists pretty dolls, too.
HOUSE SLIPPERS
PETTICOATS
HATS
HOUSE SLIPPERS
SILK HOSE ' :
nntlßfl „ TTT „ m JAPANESE LUNCH SETS -. - - m - , _ _
DRESSSHIRTS JA3 LUN°H SETS Sale of Men's Hats
SWEATERS > U S $6 Q0 |o $9 0Q Values
WOOL HOSE PURSES
u . Mn tjaoc These are all new styles,
BELTS HAND BAGS if a- Km*
and on sale lor a $ CZ
BATH ROBES SILK UNDERWEAR f ew daYS only C 3
AUTO ROBES SILK HOSIERY
ETC.. ETC. ETC., ETC.
Xmas Candy What Boys Like Men's Clothing
We will have a big supply in High top shoes, gauntlet At prices that you will be
time for Christmas and at gloves ' he ? vy PlI " °^ cr perfectly willing to pay. All
sweaters, those fur collar new styles
special low prices mackinaws, new suits, etc. -
Greenawalt - Folger Company
i president because I feel a great in
: terest in the youth of our country.'
Judge Reld said in conclusion. "You
; will In a few years' time take the
places of men and women who now
do the world's work. l hope each
! and cry one of you will not for
lack of thought, ally yourself with
| any political pat that garde
the fundamental principle of reward
! foi hottest toll, or preaches the crea
tion 2f wealth by printing more
money. People in Russia are starv
ing and dying by th thousands be
cause : hey have followed a false doc
trine. Get In and get your hare, but
j get it by honest, straightforward ef
! fort."
Finally, "I * ish you no had luck
[and all the good luck thai your own
efforts title you to."
GIVEN $0000 for. HUfIRAND
Mrs. Hilda Goserud Hates must
, pay $6000 to Mrs. Lois R. Gates in
, i' turn for a husband.
"He Isn't worth more," comment-1
• ed Judge .1. T. Ronald
t Mrs. Lois Hates wanted $ 10,000.
• She bad sued Mrs. Hilda (Joserud I
> Hates for that amount.
The trial was held and Mrs. Hilda
- Hates failed to appear, and Jiidg
t raent was entered by default, after
the other Mrs. Gates had testified,
r' Mrs. Hilda Gates was formerly an
Instructor at the Washington State
College at I' llman. There she met
Charles W. Gates, a Seattle traveling
I man.
"She called to see me," Mrs. Lois
Gates testified, "and told me she
loved my husband. She begged me
to give him up. I did. Now I want
her to pay me for it."
Mrs. Hilda Gates and the bartered
husband, now live at 1711 E. Denney
way, Seattle.
DAIRY DEPARTMENT GETS
FINE BLOODED ANIMAL
A tine young llolstein bull, Piebe
Hero, with a pedigree a mile long,
and blood of the finest stock in
America in ins veins, has been re
ceived by the dairy department from
'he U. S. dairy division to be used
In cooperative breeding work which
is being started in this station.
To find out just how the quality
•'; high milk and fat production is
transmitted In dairy cattle Is the ob
ject of the government in this, the
largest breeding project ever at
tempted in an experimental way. A
number of the leading breeding sta
tions of the nation are cooperating
in the work.
Marble and Granite Monuments
md Markers. B. E. Kilham Phone
M2XI. auglfebl
THE PULLMAN HEUALD
CHRISTMAS PROGRAM
SUNDAY IN AUDITORIUM
Christian Associations to Give
Joint Christmas Meeting Sun
day, December 12
The Christian associations will
give a joint Christmas meeting at the
college auditorium, Sunday, Decem
ber 12, 1920, at 4:00 o'clock. A
special feature of the program will
bo a Christmas reading by Dean
Rhcla M. White.
The following program will be
given:
Prelude. Adagio from Guilmant,
Third Organ Sonata.
Olive Leiser
Solo, Nazareth Gounod
Lanta Krlder
Piano, Irish Tune from County
Deny Percy Grainger
Finnish Folk Song. All Itke
Aitini Oscar Morikanto
June Sanders
Duet, I Waited for the Lord..
F. Mendelssohn
Sara Bair, Soprano
George Krous. Tenor
Christmas Reading
Dean Rhoda M. White
Violin. Concerto No. 23, first
1 Movement .V Vlottl
Marion Law-ton
Solo, Face to Face .Herbert Johnson
Cecile Whitfield
Organ, Andante, cantabile, from
Widor's Fourth Organ Sym
phony.
Olive Leiser
NEBRASKA WANTS GAME
FOR 1921 WITH COUGARS
The University of Nebraska has
written to the athletic department
asking for a place on the Cougar foot
ball schedule for 1921. It is expect
ed, however, that the offer will not
be accepted because of the prospect
of a heavy schedule all ready in
sight.
GASOLINE FOR TWENTY-
THREE CENTS PER GALLON
That is the average cost to you it
your motor is equipped with an
American Steam Carburetor. The
saving is guaranteed to be 25 to 40
per cent (the average being 30 per
cent), depending, of course, on the
condition of your motor.
Carbon trouble and dirty spark
plugs are a thing of the past if you in
stall the American Steam Carburetor.
Read the scientific principle on page
three and note the guarantee. Now
on demonstration at Baker's garage.
dec Ht.
INSURE; WITH McCLASKEY.
Friday, December 10, ipjjq
sßm Mi \• \\ v***w <^^^»^.
THE Florsheim Shoe
has that vitalizing
quality about it which
men call "personality." A
"Style of the Times" is
ready for you.
THE
MODEL
BOOT SHOP
609 Riverside Aye.
SPOKANE
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