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THE WEEKLY TRIBUNE AND PE COUNTY HERALD. FRIIHY, JANUARY 29, 1913.
1 IU.JF.1 ! e RESERVE BANKS HAVE RE VIVED BUSINESS IN U. S. (Continued from page one). BOYS ! BOYS CONDENSED FINANCIAL STATEMENT of the Southeast Missouri TRUST COMPANY JANUARY 23, 1915 RESOURCES Loans and Discounts Stock in Banks Local Bonds Furniture and Fixtures Real Estate Overdrafts Cash and Due from Banks LIABILITIES Capital Stock Surplus and Profits Bonds Borrowed Bills Payable and Rediscounts Dividends Unpaid Demand Deposits Time and Savings Deposits The above statement is correct SAM'L M. $1,021,523.67 172,407.10 37,000.00 2,576.00 2,535.00 2,408.30 263,554.47 $ 1,502,009.54 $500,000.00 73,991.71 2,500.00 75,000.00 23.25 465,669.98 384,824.60 $ 1,502,009.54 CARTER, Secretary Your patronage invited. Every dollar deposited is protected by the Capital and Surplus of $573,991.71, plus the management of Offi cers and Directors. E. J. Deal, Pres. Sam'l M. Carter, Sec'y. and Tres. M. G. Bender J. H. Himmelberger, Vice-Pres. S. B. Hunter, Vice-Pres. Ass't. Sec'y. DIRECTORS ' E. J. Deal H. G. Dempsey John H. Himmelberger W. H. Harrison Will Hirsch S. B. Hunter C. W. Henderson 1. Ben Miller James McPheeters R. B. Oliver J. D. Porterfield W. H. Stubblefiield John Tlapekj C. M. Witmer Sam'l M. Carter .4 MORE PAY FOR STATE OFFICERS Bill for Increases of 100 Per Cent or More Offered. Jefferson City, Jan. 26 Represen tative J. H. Taylor of Kansas City, to day introduced in the House a bill providing increases in salaries of State officers as follows: Governor, $",000 to $10,000; Attorney-General, $3000 to $7000; Auditor, $3000 to $6000; Treasurer, $:!000 to $6000; Sey rotary of States :Xf0 to ''; j '. intendent of Schools, ! to ..; Assitant Attorney- ;noi;t'?. ''"' to $2600. Representative D. M. Kcenan n4' Kansas City introduced bill today forbidding boys under 12 c:v? of age and girls under 16 fro:n selling news papers, magazines or ether merchan-' dise, on the streets or in public places. INJURED HORSE IS SHOT A valuable horse belonging to the Dempsey Grocer Co. was so badly in jured by falling on the slippery street at the foot of Broadway yesterday morning, that it was necessary to kill the animal, 41HBS2EZ3 The team was hitched to an empty wagon and driven by Lindsey Adams. It was approaching Water street from Broadway when both horses slipped and fell, one of them breaking a leg in two nlaces. i! I"'. !5:tri:" r. nv::ng lvachin; Mil'smsn of St. Oralis, is in the city looking after business interests. Y ANTI'D A salesman in this terri tory to represent us in a general monumental business. Write for particulars. Kel'.og Marble Co., Car thage, Mo. uh l i i III I MMIiI ii il l!!'!:! i i! if i 1 i w i n i'ii ii ----- "rv .--xw- a St n f a ii i 1 1 1 i i n i lllliiiiiilliiiii i YouCanMakeYourHouseMoreAttractive With the Handsome Babbitt Premiums A TEN-CENT can of Babbitt's pure lye is paid insurance against dirt or germs: guaranteeing clean sinks, and thoroughly sweet and sanitary conditions in the home, and in your barns, kennels or hen houses. 1 If you will write we will send you a book Absolutely Free telling a hun dred uses for Babbitt's Lye; also our premium catalogue illustrating beau tiful and valuable presents exchanged for coupons. B. T. BABBITT The Great Soap Maker BABBITT'S LYE The Bert Home Soap Maker Highest in Strength but not in Price 10c P. O. Box 1 776 New York City THE BEST GROCERS HANDLE BABBITTS LYE ; 1 i were created because of the existence of a certain common Deeds and inter ests, and they should be administered for the common -welfare for the good of alL "The more complete adaptation of the credit mechanism and facilities of the country to the needs of industry, commerce and agriculture with all their seasoned fluctuations and con tingencies should be the constant aim of a Reserve Bank management. To provide and maintain a fluid condition of credit, such as will make of the Reserve Banks at all times and under all conditions institutions of accom modation in the larger and public sense of the term is the first respon sibility of a Reserve Bank. "It Bhould not, however, be assumed that because a bank is a Reserve Bank its resources should be kept idle for use only in times of difficulty, or, if used at all in ordinary times, used re luctantly and sparingly. Neither should it be assumed that because a Reserve Bank is a large and powerful bank all its resources should be in use all the time or that it should enter in to keen competition with member banks, distributing accommodation with a free and lavish hand in under taking to quicken unwisely the pace of industry. Such a policy would be sure, sooner or later, to invite disas ter. Time and experience will show what the seasonal variations in the credit demands and facilities in each of the Reserve Banks of the several districts will be and when and to what extent a Reserve Bank may, without violating its special function as a guardian of banking reserves, engage in banking and credit operations. The Reserve Banks have expenses to meet, and while it would be a mistake to re gard them merely as profit-making concerns and to apply to them the ordinary test of business success, there is no reason why they should not earn their expenses ,and a fair profit be sides, without failing to exercise their proper functions and exceeding the bounds of prudence in their manage ment. Moreover, the Reserve Banks can never become the leading and im portant factor in the money market which they were designed to be un less a considerable portion of their re sources is regularly and constantly i s v.. : v. i i; ' ; ' w cv ' 1 ( ' ":; nf tivir '''.'if.-c -!! K-stHJive. ;lii.ui i be exert -ci to cvci:v ii f'fer rx ; cvi-io!! of credit :n;d an casing o: ntos in order tn:l the borrowing ! community shall bo able to obtain ac i commodation at the lowest rates war- j ranted by existing conditions and bo adequately protected against exorbit ant rates of interest. There will just as certainly, however, be other times when proficiency and a proper regard for the common good will re quire that an opposite course should be pursued and accommodations cur tailed. Normally, therefore, a consid erable proportion of its resources should always be kept invested by a Reserve Dank in order that the re lease or withdrawal from active em- ! ployment of its banking funds may al ! ways exercise a beneficial influence. This is merely saying that to influence the market a Reserve Bank must al ways be in the market, and in this sense Reserve Banks will be active banking concerns when once they have found their true position under the new banking conditions. "It would be a mistake, therefore, and a serious limitation of their use fulness to regard the Reserve Banks simply as emergency banks. Regula tion .in ordinary times, as well as pro tection in extraordinary times, may be expected to become the chief service which these institutions will perform. The Federal Reserve Board is fully alive to its opportunity and respon sibilities in their respect, but it must counsel patience in awaiting the frui tion of the new system. It will take time for the new banks to develop the technique of control and skill and ex perience in its application. The as certainment of the correct base from which comprehensive operations should begin; the establishment of a normal level from which expansions and contractions will freely take place will have a most important bearing upon the future development and suc cess of the system. Impatience to show results should not be permitted to tempt those in charge of the Re serve Banks into precipitable and un wise action. The hurried opening of the Federal Reserve Banks has fully justified it self. The new system caused such a re lease of bank reserves and increase in confidence that New York commercial paper in two weeks dropped from above 6 per cent to 3H snd 4 per cent. The formation of the gold exchange and cotton fundi rendered material oil est y 4 o i 1, i sn i it a Peach? A $150.00 Auto . , . "ST- - . . tv -r v-- J, 15 "-rl a Regular Jim-Dandy And Boys it is Absolutely Free to One of You. It Wont Cost You One Cent It goes to the boy under fifteen who brings us the largest number of subscriptions (over twenty yearly ones) for the Daily or Weekly Tribune. Any boy in the city or country is eligible to compete for it. Boys you all want it; your friends all want the Tribune. Devote your spare time to this; get all your friends to sub scribe to the Tribune for a year, it's not a hard job, just get after it and keep after it and you will win out. This little machine has a shaft drive, a one-horse power engine, lever control, foot brake, and in fact is a regular dup licate of the great big machines. It will carry two gallons of gasoline and run all day on that amount. Go and see it at Allison's on Broadway; watch for it as it is run around town; listen to the sound of the engine, and J. - ' -v -I- I 4:.i'm -r, i r ' iio v .11.. Come to the Tdbu-' e znu we will ;ox you d ) Don't forget boys that we have a lot of da dy air ;uns on hand just waiting to givetheni to you. Don't y ou want one? Come and see Mr. Hoyi at the Tribune Ofii :e Daily and Weekly Tribune 7-9 -South Sw5sh Street service by restoring confidence and stabilizing value. Had the Federal Reserve Banks been in operation at the beginning of Au gust they, instead of the clearing houses and the United States Treas ury, would have supplied the great volume of currency which was called for. The Reserve Banks' duty is not to await emergencies but by anticipation do what it can to prevent them. There is no reason why the Federal Reserve Banks should not earn their expenses and a fair profit besides. FORD WANTS TO CONVERT CONVICTS Auto Man Says He Can Make Men Out of Sing Sing Inmates. BOILER EXPLOSION ON U. S. CRUISER KILLS 5 SEAMEN On U. S. S. San Diego, La Paz, Mexico, Jan. 21, by wireless, San Diego, Cal., Jan. 22 Four men were killed instantly, another died from his hurts today, and eight others are seri ously injured as the result of the blowing out of a boiler tube yester day afternoon on board the armored cruiser San Diego, after a steaming trial of four hours had been complet ed. The dead are: Oscar J. Wyatt, El Centro, Cal. Ambus J. Hardee, Joplin, Mo. Clifford A. Western, Davenport, Cal. 'S x Benjamin H. Tucker, Lead Mine, Mo. George Ohm of Yutan, Neb., a water tender, who died today. All except Ohm were firemen. The injured are: Benjamin H. TucTc er. R. B. Glidden, Darrell L. Varnado, William H. Miller. Ernest A. Lodwith, Chas. W. Peterson, firemen; Emanuel A Shappi, seaman, and Patrick A. Merrim&n coal pawer. New York, Jan. 22 Henry Ford of Detroit, millionaire manufacturer of automobiles, will guarantee to take every convict out of Sing Sing prison and make a man out of him. He so stated today when he appeared to tes tify before the United States Com mission on Industrial Relations which is investigating the philanthropic foundations of the country and the cause of industrial unrest. "The philanthropic foundations may do some goi.d," said Ford, "but they are not adequate. My idea is justice and not charity. I have use for phil anthropies as such. My idea is to ' men to help themselves. Nearly all are willing to work for adequate reward. We have all kinds of cripples in our employment and they are making good. We have a great many who have been in prison, who are outcasts from society. Everyone of them is making a good showing and is gaining ; in self-respect and strength of charact- j er. We will guarantee to take every convict out of Sing Sing and make a man out of him." Ford a year ago installed in the con cern of which he is the head a sys- j tern of profit-sharing and a minimum i wage scale of $5 a day. The plan, he j asserted today, has dose wonders. No j ION PITMAN 5S MISSING; WIFE NEAR COLLAPSE Good Hope Street Restaurant Man Disappears, Taking $125 With Him. e the RELATIVES UNABLE TO EXPLAIN ABSENCE Vanished While Wife Was Mak ing Purchases in Nearby Store. lluenced t.-.m to go away. His bruthf r, (ieorge Pitman o:' Sato, was visiting the family on day of tin? myt-terious disappearance, and the two men were seated in the I front part of the restaurant when Mrs. Pitman stepped out to a nearby tore to purchase some small articles of simply for the restaurant. When he : n trrnt d h r husband was gone, and when t-h- asked for him, his brother ! advised her that he had put on his j coat and hat and walked out through i the kiU-hen door, and that he thought I he would return in a few minutes. Af ter waiting for some time, a feu;rh was bcun, but all efforts to find the missing man wore futile. Later de velopments showed that before leav ing he secured all the available money t belonging to the business, amounting to about $123, which he is believed to have taken with him. Pitman was reared on a farm near Whitewater where he lived until a fe.v years ago, when he moved to I!I:no where he engaged in grocery busine; j which he recently disposed of in ex change for a farm. He still retains his farm and is said to own consider- Lon Pitman, proprietor or a res taurant on Good Hope street, disap peared from his home Saturday night at about 8 o'clock, and has not been heard from since. Mr. Pitman, who is almost in a ! state of nervous collapse, says she j ab!e livestock and other valuable prop cannot think of any reason for her ' orty in gcott County, husband's strange action, and says j Mrs pitman ig the daughter of that she knows of no business troubles , Gcorp, Washburn proprictor of a or other cares that could have in-1 store at IHmo ghe sayg that un j less her husband returns soon she in more are his employes arrested for in- ten,j3 to dispose of her business in Haarig, and return to the farm in Scott County. fractions of the law. There has been an increase of 130 per cent in the bank accounts of em ployes the last year. On a capitalization of $2,000,000 shared by eight men, his concern had made last year a profit of $25,000,000, he testified. H. S. Walker of Camnbell, is vi?it in? friends in this city. Mrs. John Pearson of Clarkton. is in the city for a hhort vi?it with friends.