THE WEEKLY TRIBUNE AND PE COUNTY HERALD. FRIIHY, JANUARY 29, 1913.
1 IU.JF.1 !
RESERVE BANKS HAVE RE
VIVED BUSINESS IN U. S.
(Continued from page one).
CONDENSED FINANCIAL STATEMENT
JANUARY 23, 1915
Loans and Discounts
Stock in Banks
Furniture and Fixtures
Cash and Due from Banks
Surplus and Profits
Bills Payable and Rediscounts
Time and Savings Deposits
The above statement is correct
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.
E. J. Deal
H. G. Dempsey
John H. Himmelberger
W. H. Harrison
S. B. Hunter
C. W. Henderson
1. Ben Miller
R. B. Oliver
J. D. Porterfield
W. H. Stubblefiield
C. M. Witmer
Sam'l M. Carter
MORE PAY FOR STATE OFFICERS
Bill for Increases of 100 Per Cent or
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
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
l i i III I MMIiI
ii il l!!'!:! i i!
if i 1
i w i n i'ii ii ----- "rv .--xw- a
n f a ii i 1 1 1 i i n i
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.
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
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 ;
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
"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
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
y 4 o
sn i it
. , . "ST- -
. . tv -r v--
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-
-r, i r ' iio v .11..
Come to the Tdbu-' e znu we will ;ox you
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
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
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
Auto Man Says He Can Make
Men Out of Sing Sing
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,
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
Good Hope Street Restaurant
Man Disappears, Taking
$125 With Him.
TO EXPLAIN ABSENCE
Vanished While Wife Was Mak
ing Purchases in Nearby
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
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,
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
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