Newspaper Page Text
JULY 7. 1904.
PAGE 12. THE NEBRASKA INDEPENDENT A Bank Report. ! Editor Independent: Would you please explain in your columns the enclosed bank report, showing what items stand as security to depositors? What is meant by "reserve agents"? Does the government stand as secur ity for. amount due from "approved re serve agents"? You will please notice that it takes $322,000 to meet checks or a run, and there is only $17,155.98 ready cash on hand. Would the capital stock ($50, 000) come in pro rata with other claims against the bank in case of in solvency? Is there a chance to put up a job on creditors in the bank's bonds and securities items and evade the law? (Criminal law, I mean.) In fine, what I wish is a simplified state ment of this report requiring no tech nical knowledge to understand it. JAMES G. CORBIN. Mill Creek, Pa. v RESOURCES. '' Loans and discounts $lo8,831f48 Overdrafts, secured and un- secured, t 241.83 U. S. bonds to secure circ. 50,000.00 U. S. bonds to secure U. S. deposits.. .. 50,000.00 Premiums on U. S. bonds.. 6,500.00 Bonds, securities, etc 177,721,25 Banking house, furniture and fixtures :.. 41'.90 Other real estate owned... 1,844.61 Tin from nat. banks (not reserve agents) .... .... 4,371.1 6 Due from state banks and hankers. . . . 2,877.94 Due from approved reserve agents 32,b99.87 Checks and other cash items Fractional paper currency, nickels and cents ....... Lawful money reserve in bank, viz: Specie $15,893.98 Legal tdr notes 1,257.00 Redemption fund with U. S. treasurer (5 per cent of circulation) 495.01 316.27 17,155.98 2,500.00 Total $537,024.30 . LIABILITIES. ranital stock paid in $ 50,000.00 Surplus fund .. 40,000.00 TTrwlivifW nrnflts. less ex- j A-l 14 A ) iuvw Xr npiises and taxes . paid. .. . 13,160.?.P Nat. bank notes outstand.. 50,000.00 - Due to other nat. banks. . . . 7,940.91 Duo to state banks and ' .bankers .. 4,808.33 nno.tn trust rnmnanies and ' savins banks 1,931.09 Due to approved reserve agents . . 6,328.60 Individual deposits subject to check.. 244,962.42 Demand certificates of de-... posit.. '. 77,892.59 United States deposits.... 40,000.00 per cent; country banks (that is, In and life is too short to try some new towns) 15 per cent. But country scheme. , banks may deposit 9 of this 15 in some The taxes won't be paid until after other bank (to be "approved" by the election, and the kicking will be over comptroller of the currency) and keep before the next election. And you but 6 in actual cash in the vauit. City will just waste time trying to nna banks in turn may deposit 15 of their votes to defeat the redeemers, if you 25 per cent in reserve banks, while do go to Springfield. n the central reserve citie3 (New M. M, HAL.LJi.uiv.. York, Chicago and St. Louis) the fuil Clarks, Neb. R. 1. 25 per cent reserve must be kept on (Possibly Mr. Halleck never heard nand in cash in the vaults. The gov ernment does not stand as security for such deposits, but oversees them. The stockholders claims against the corporation would come in last. Without violating any criminal law, the bank might make bad loans or might buy poor bonds and securities. It is Impossible to eliminate the per of "The old man who said. Why Can't I put my own shin in my eye? If I'd put my mind to it, I'm sure I could do It; For no one can tell till they try!" Mavbe Mr. Halleck is right. Maybe we will "waste time trying to find votes to defeat the redeemers" but Hurrah for the two ina club of campaign sub- senpuons-oeven tor a dollar. ' sonality of men in such business, we'll try just the same. We 11 go to There are bankers and bankers. As- Snrincfield lust the same. It may be sociate Editor.) - another case of sticking one's shin in one's eye. but We'll put our minds to it And we're sure we can do it; TomsTom Watson and PPcan?A Aell 1111 they try i Assnr. ar iiiUiLur.i Tom 1 ibbles-by sending St, Louis and Return VIA. . WABASH RAILROAD $0.5O Rnui .lulv 11. 18 and 25, good return Economic Determinism." jn 7 dav3 from date of sale. Corre- A Drominent Donulist. who has done! snnndinsrlv low rate applies from your great service for the cause of popul- station. The Wabash is the only line ism, expresses himself thus in a re- that lands passengers at main entrance cent letter to The Independent: of the World's Fair grounds. All Editor Independent: I have your neents can sell you through ticket ana letter of recent date, and note what route you via the Wabash; insist on vou sav about beine: so busy. I have tho a cent doinu so. no doubt of it. I used to be that way train SCHEDULE: Leave Omaha myself when I was saving the coun- union station 7:45 a. m.; Council try. I thought then that if I stopped Bluffs 8 a. m.; arrive World's Fair a moment a cog would slip, and the station 7:35 p. m.; St. Louis union sla- oid thins wabble back in the rut. I tinn 7:f.o n. m. Leave Omana b:iu p. gave the best years of my life to the m.; Council Bluffs 6:45 p.. m.; arrive work before I learned that a hungry World's Fair station 7 a. m.; St. Louis stomach was a stronger incentive to union station 7:15 a. m., daily action than all the appeals to reason Greatly reduced rates on sale dur- that could be brought to bear. 1 have ns the summer months to many ... 1 --- . , . . i t-t about come to -the conclusion that points in the east ana soutneasi. r or nine-tenths of the men for whose wel- an information call at Wabash city fare you are laboring think with their office, 1601 Farnam st, or address, stomachs, and imagine that God made ' HARRY E. MOORES, their heads on purpose to hang their , G. A. P. D., Wabash It. K. hats on. Omaha. Neb. Now, I don t want you to think that I am a pessimist, as I am altogether the opposite of that, and see in the signs of the times much to hope for The people are coming rapidly to pub lic ownership of the public utilities , Total. $537,024.30 (It is rather difficult to simplify the statement and avoid all teennica terms.-The bank, as an entity or thing nuite apart from the stockholders who make upthe corporation, owes the fol lowing amounts: To it3 depositors..... $322,855.0 To the United States...... 40,000.00 To other banks 21,008.93 To its noteholders 50,000.00 To its stockholders 103,160.36 Total $537,024.30 Now, the $103,000 it owes its stock holders can wait. What It owes those who hold its notes (national bank cur rency) is secured by $50,000 of U. S. bonds. What it owes Uncle Sam is also secured by U. S. bonds. So that unsecured, or not specifically secured, are the amounts it owes to individual depositors and other banks. What has it available to pay this $313,863,694 which it owes other banks and its depositors? Why, the follow ing: - Customers' notes $145,831.48 Other bonds and securities. 177,721.23 Hanking house and realty. 43.417.51 Hue from other banks 39.S4S.97 Money on hand 17,472,25 Rosebud Excursion Rates, Chicago & Northwestern. Raluoad agents will sell special excursion tick ets daily from July 1 to July 2J at We spread the leaven and the logic of one and one-third fare lor round trip events is doing the rest. And the to uonesteel, Fairfax and yanton, work should go on. .vccount opening for settlement of n.n . . n'loiLtd lands in Rosebud Indian inoiwKevenuuw. v ennth Dakota. Passen,s Editor Independent: Now after ! ; rotnm nn anv date un to Aucust waiting a long time for the state board m Rate Lincoln to Bonesteel iu give luc lamuaua wuoi tucj .c iQ(j return. on sale daily July 1 .0 asking, we can see how the farmer is , MS0 Lincoln to Fairfax. S. D.. Dropsy Treated Free! S3-75 Worth of a New and RemarkableTreat meat Will b 5nt Pre to Any of Our Reader as a Trial. Dropsy is a terrible disease in . its last stage. At first no disease is ap parently more harmless, a little puff ing of the eyelids or hands or a slight swelling of the feet, ankles or ab domen. Yet no death is more fearful. The , unfortunate patient slowly , drowns in the water of his own blood. He has smothering spells and often has to sit up to breathe. Dr. Miles' specialty is diseases of the heart, liver, kidneys, nerves and dropsy. To introduce his new Dropsy Treatment he will give away $10,000 worth. Hundreds of testimonials of the most remarkable cures will be sent on request. One gentleman was cured after having been given up by ten Grand Rapids physicians; a lady after six able Chicago doctors pro nounced her case hopeless. Mr. II. Trimmer of Green Spring!, Pa., write. Your Special Treatment cured Mrs. T. of se rious heart disease and dropsy after many phy sicians had pronounced her ease hopeless." , Mr. H. A. ilroce, of 504 Mountain St., K'gln, III., aged 72, was thought to be incurable from dropsy which reached to his lungs and caused smothering spells, cough, shortness of breath He, reports: "Dropsy all gone; better every way." Mr. James l'lnkerton, editor of the UusslavilleRun, Ind., writes: "Mrs.P, was given up by three physlclaus. She owes her life to Drs Miles' SkllL She now perform her household duties at sixty-live years of age." Mrs. M. 11. Morelan, or Rogers, OhioVsays: "Dr. Miles saved uiy life by curing me of that awlul disease, dropsy and heart trouble; I euf fered terrible." Mhs Sophia Suowberg, of No 291 21st Ave. , Minneapolis, testifies: "Three day alter commencing treatment for dropsy it was nearly all gone, after two all opathic and two homoeopathic physicians had railed," Mr. A. V Colburn, of Messing, la., writes: "Dr. Miles Treatment has per.'ormod a miracle for Mrs. C. after her leg burst from dropsy." Dr. Miles' Treatment is much su perior to any others and to obtain the best result it is specially prepared lor each patient. Every afflicted person should send for this marvelous treat ment. $3.75 worth sent free upon re quest. Address Dr. Franklin Miles, 205 to 231 State St., Chicago. Men tion The Independent. imposed upon as usual We farmers here in Hamilton and Polk counties are assessed on our land 250 per cent above the assessment last and return. $9.10. Return limit Aug ust 31. A two-cent stamp will unng you full information regarding the 1024 O st. Total $i: i)i.ti; Apparently, then, the ie.sourcc& are ample. Hut no one ran tell whether they are or not wlthourknowlng what class of paper is included in the $11$, C0) of loans and discounts, or what port of "bomb, securities, etc.," go to make up the Item of $177,000. Ono thins: In manifest, however, and that U Hilar The bank hn only $!T.i72.:5 of actual rash to meet the lutytnent of $:IU;2.I2 of depo-tit subject to theeU-or slightly over 7 per cent; In otlur nrdX ttlut one dollar of Actual coin tu $11 of phIU. And. ctumt. Ing rvrry dollar lu from othrr tauku n ImniHintHy nva!lait (whlrh, of rour nituht l" othrrwtaH, It Lai ).,( linn ono dollar fur rvrry five of dfv!tK Twenty tor cnt rc s ic h ttnaUns tauh too rUn to tn thin Th national btriMmj law r.jnlni t.iinUs In till- to Kfp a ren of 25 z&u per cent aoove tne assessment lasc istration r. W. McGinnis, Gen year. I see by my late paper that the A t Lincoia; NCb. City oifitt. nil;! t?ase uu asacsauicui, uii laiuuauo is less than one-third the increase with us clod-hoppers. One of the board said that we farmers were the worst tax-dodgers of any. The gen tleman knew when he made the state ment that it was absolutely false. A farmer cannot hide his land, and more than four-fifths of our tax is on real estate. Mr. Manderson stated be fore the board that the railroads should not be assessed as high for years when poor crops or drouth oc curred as for years of plenty. We farmers have never had any remit tance of taxes for any year, no matter whether we had drouth or hail. We farmers had to pay the tariff no mat ter what the condition. The World's read Basket with its 760,000 square miles of territory Western Canada affords homes for 2OO.0O0.C00 peopU. THOUSANDS OF U. S. SETTLERS are jolng. Millions, of acres of the flnast farming and grazing !ands opn for aettlement. Small taxes, cheap crnnA flimt. pnormou crorw. There is no fair method of levying r',n 0 Per Acre and ud, taxes except on incomes as I see it. ,.H, ln ten nDUal installments. I may be an Ignoramus of tho first 1 fyir rent a farm when you can buy water, and Justice Shiras a second on0 or Cm money than you pay a rent? Solomon with Paul's eye-openers. Tho yor fuu information, apply to scales may have fallen from Judge A. C. SHAW. Shlrns' eyes, but if I had been in his on ArL Pasa'r. Dept., CANADIAN place, I am sure people would nave PACIFIC KY., CIIIUAUU. said I had an "itching rami." and I tc llcvc they would have told the truth. Tlw professional men my but very little int. for thpy receive a large In come from fees or salaries and pay no tax on It. We farmers have an ln cotno from our farms which Is not taxed, but our farriH. the uoitrco of our Income, U taxed every year whether there U an imonie or not. If an attorney or physician receives a yearly Income of $l,5ut) from hi pruitlee. why not pay a much tax ai I d If toy Imoine Is $1,500 Kr year from my farm? Mtiht pay a heavy tat on receipt from a fod deal of mtnH and a lit tli brain, and the professional tvm tuy nothing for receipt from a little tviiH le and lota of brain? Whlrh. U the mont Important rommdity in the rvts of the rovi rnmrnt? The fanner! will "vote rr utrnltiht jHt a In the n.t. for tluy loivn if, tlcvutcl the late from repudiation. HEMP BINDER TWINE .2.-1 AairU'n II i mp I inder Tw tne gur InifetKrtii m;Vttr proof. BvOcr ihn f t tr M'rl. rl hnn AtrA thfMMii1 ohii.: In N-.r.k Ut r, tin " from l.nl. MU-l l inl r. U. kk Omaha. lleinitr A Mtclf Ca Omh, Ntkruk ARTICLED OF INCORPORATION . Xbrnk-Toma Company. Article! I The name of this corporation shall be No braska-Tensas Company. Artlelell , The principal place of biismesti of this cor i poratloa shall be Lincoln, Nebraska. Article III The general nalureol the buslnento be car ried on by tbis corporation nhall be to buy and sell real cstat, merchandise, cotton, cotton eed, limber, lumber, wood, fruit, vegetables, live stock; to buy and sell or own and operate factories, cotton gins, saw mills, sugar mills, oil mills; to own, control and operate railroads, tramways, water transportation lines and the necessary or desirable equipment to operate same; to borrow money and in ortgage real es tate and personal property to secure puyment thereof. . Article IV This corporation shall begin business when these articles are filed in the oflice of the secre tary of state of Nebraska, and shall continue until dissolved by the stockholdersrepresentlng a majority ol the stock. 1 . Article V The capital stock of tbis corporation shall be one hundred thousand dollars, divided Into one thousand ihares of the par value of one hundred dollars each, of which thirty-two thousand dollars is paid for by the transfer to this corporation of a tract of land (approxi mately six hunarea acres) iocaiea wunin me Btnte of Louisiana on which there is still due tea thousand dollars, which amount or Indebted- property. The residue of the capital stock or any portion thereof may be issued at sucb time anil under such conditions as the board of di rectors may determine. AH paid up stock shall be non-ussessuble. Article vi r The hichest amount of indebtedness to which this corporation may at any time sub ject Itself shall not exceed two thirds of the paid up capital sloes, au or any part 01 saiu in debtedness may be represented by notes or bonds of this corporation, and maybe secured by mortgages ou Us properly. Article VII AH the business of this corporation shall bo under the management and control of a board of director which shall consist of seven members. Thedirectors shall be elected by tUa stockholders at their annual meeting and shttti erve one year and until their suceeaor are elected. Should a vacancy occur lit the board of directors same shall be Blled by special meet ing ol stockholders. The board of director htl elect from their own number a president, li t president, secretary and treasurer. Tba ecreury and treasurer may be on ieron. The board of directors may aiK'.ut such other ollicers and em ployees a they may deem necessary. All con veyance of ret estate shall be signed and ae knowlediied by the president and secretary and shall be Ueted by rorimraie seai. Article VI 1 1 Tho board of directors shall adopt stteh By l asrulcand regulations for the ntor eom pict management and control of the attain of IbU corporation as shall In their judgemeut rem bei Artie! IX Tt article ny b amended at any an nual or ste Ul uieeHni of the stock iHiMcrt by lo third vot of the Od up i. Alined O A. AStiUKWiJ SA W. MIAIil'K f. K OU! I Mi II. K KMIIti 1. k. t I I I ltO' lUyden Uro. are lib ml intron of The n'1etin1nt. Fend theru a ttltl order. Fee al. In Ihla Uma. Help fHtah the educational work caiupalgu bf crlptloiii terra fur dollar.