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The independent. (Lincoln, Neb.) 1902-1907, July 07, 1904, Image 12

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JULY 7. 1904.
PAGE 12.
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.
Mill Creek, Pa. v
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
Total $537,024.30
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
"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. .
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:
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.
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.
II i mp I inder
Tw tne gur
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
lleinitr A Mtclf Ca Omh, Ntkruk
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.
f. K OU! I Mi
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

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