The Kenna record., January 07, 1921, Image 1

About The Kenna record. (Kenna, Roosevelt County, N.M.) 190?-1924

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VOL. 14
KENNA, ROOSEVELT COUNTY, NEW MEXICO, FRIDAY, JANUARY 7
NO. 43
fi'O BILLIONS IS
LOANED FARMERS
KANSAS CITY RESERVE DIS.
TRICT FIGURES ARE
$229,433,000
f."QHE TH1N"D0UELED IN YEAH
JMHGBEESJO UM RULE
PLAN A TREATY BETWEEN
JAPAN AND U. S.
California Congressman la Very Hope
ful That the California Troubla
May Ba Settled.
The Amount of Such Redlacounta In
1019 Was Estimated at $71V
260,000 It ia Stated In the
Report.
Washington Nearly two billions ot
dollars worth of paper, baaed on pro
duction and sale of farm products, haa
, been rediscounted by federal reserve
tanks thi year, Governor Harding of ,
the federal reserve board estimated ,
In a special report sent to Chairman
lOronna, of the senate agriculture com
mittee. The amount of such redis
counts In 1610 was estimated at 1719,
fe60,000, it is estimated.
The figures Include eleven districts.
There was no report from the New
fTork reserve hank, at the board said
there was a very small amount ot ;
farmer's paper rediscounted there.
Figures from the other districts follow:
1919
Boston --I 2,0)2,000
Philadelphia 2,71,000
Cleveland 812,000
Richmond 102,000,000
Atlanta 91,300,000
Chicago 47.203,000
St. Louis 230,000,000
flinneapolis 75,000,000
Kansas OHy 123.4S1.000
f)allas ,- 28,997000
fcan Francisco 20,000,000
"The special figures furnished by
the Federal Reserve banks in accord
ance with request are in all oases
estimates, no exact figures of the to
tal volume of loans for agricultural
' purposes being available at the fed
ral reserve banks.
"It has been borne In mind also
that the total amount of farmers'
notes rediscounted by federal reserve
banks give no indication of the
amounts advanced by the federal re
serve banks to flnanee the production
and sale of farm products. Since large
amounts advanced to member banks
in other districts on commecrlal and
-Industrial paper are used by these
banks for loans to agricultural In
terests."
1920
I 4,79,000
8.5H0.QO0
i,7ft$,6oq
828,000.000
20,000,000
128,408,008
695.000,000
228,000,000
2W.482.000
4.21,6K)
89,065,000
SAYS LEAGUE SAVES WORLD
Meeting Greatest Event In History,
Lloyd George Says.
London. Premier Lloyd George, in
a luncheon speech characterized the
league of nations meeting at Geneva
as "one of the great events In the his
tory of tle world.' '
The premier expressed the belief
that if there had been a league of
nations in 1914 the world war would
have been averted.
The league; said Lloyd George, is
a considerable measure toward world
disarmament
"There can be no real peace be
tween nations so long as there is com
petition in armaments," said the
premier. "But at the same time na.
tlons cannot risk disarmament until
every country is Included.
Washington. Declaration by Rep
resentative Kahn of California that he
believed reports were true that the
Japanese government had withdrawn
Its opposition to the recently ratified
California law prohibiting acqulcltion
by Japanese of title to real estate in
that state. The California representa
tive made the statement after a con
ference with Roland S. Morris, Ameri
can ambassador to Toklo.
Announcement was made by Repre
sentative Kahn that a meeting of the
California members of the house had
been called to discuss aspects of the
negotiations now being carried on be
tween the United States and Japanese
governments looking toward a treaty
defining the rights of Japanese nation
als in the United States.
Substitute Is Asked.
The principal matter to be taken up
at the conference, was the proposal
that the California legislature be ask
ed to enact a substitute for the re
cently ratified law. The substitute
would prohibit any alien from acquir
ing land in California and would there
by remove the contention that the
present California law is discrimin
atory. Mr. Kahn, who conferred at the
state department with Ambassador
Morris, who is representing the United
States in the negotiations conduoted.
by the Japanese government through
its ambassador here, Baron Sbedehara
said his impression was that no defi
nite conclusions as to the proposed
treaty between the two nations had
been reached.
The conference is understood to
have been in accordance with a sug
gestion made by the state department
that leaders in both houses of congress
be consulted with regard to the pro
posed treaty with a view to obtaining
approval from congress for various
provisions of the pact when it is com
pleted. These consultations are un
derstood to have included conferences
with Senator Johnson of California,
the only member from the Paclflo
coast 6tates, and Representative John
son of Washington, chairman of the
house committee.
RAIL ROAD RATES TO STAND
Cuyler Says Roads Are Well Satisfied
With Gains Made In 1920.
CANADA FLEET IS DAMAGED
Official Welcome Delayed by Mishap
to Flagship.
Halifax. Canada's new fleet of two
destroyers and a cruiser met with a
mishap at its inaugural rendezvous in
Halifax harbor. As the warships were
being berthed, the flagship Aurora was
fouled by His Majesty's Canadian
hip Patrician.
Although the damage was slight, the
Incident delayed the official welcom
ing program.
PEKIN WANTS EMBASSY
Porter Offer Resoultlon to Increase
Officer Rank.
Washington. The American leg,
tion at Peking would be raised to an
embassy under a Joint resolution la
troduced by Chairman Porter of the
house foreign affairs committee.
"While in China, soma month aga,
I announced that I would endeavor to
bare this government put China on
the same diplomatic footing; with other
Washington. American railroads
are completing a record year and have
no intention of asking for another
general increase in rates, Thomas De
Witt Cuyler chairman ot the associa
tion of railway executives declared in
a statement reviewing the railroad
situation for 1920.
The year Just ending, Chairman
Cuyler asserted, saw American rail
roads placed again under private oper
ation and under such direction saw
them move a larger gross tonnage
than ever before and also established
new records in the amount of trans
portation gotten out of each car,
These records were not achieved by
the railroads alone, but with the aid
of shippers in unloading cars and with
::the day and night, rain or shine,
work of hundreds of thousands of em
ployes." The railway executives association
chairman referred In his review to re
ports that the railroads plan to ask
for fu-'ther increase in rates, and in
that connection said:
"I know of no movement on the
part of railroads for a general in
crease in rates, nor do I expect any."
JEWISH POGROM IS PROBED
Government Will Make- Public Report
On Minsk District Order.
Warsaw. Premier Wltos, replying
to a question in the national assembly
by the Jewish deputy, Doctor Schipper,
stated that the government was
thoroughly investigating all reports
regarding pogroms, alleged to have
been carried out by the forces of Gen
eral Balakovltch, former antl-bolshe-vlkl
leader in the Minsk region. He
said the government would make
known the results of the Investiga
tions as soon a possible.
FRANCE SEEKS TRADING PACT
RUSSIA WANTS TO TRADE
WITH THE U. S.
Brlttish Now Grabbing for Business
, United States Spurn It I
Asserted.
Washington. Russia needs between
14,000,000,000 and 15,000,000,000 worth
of Amerioan commodities, a good part
of It railroad material, within the next
four years.
She wants to trade with us and will
produce witnesses before a senate for
eign relations' committee during the
week beginning January 7 to show
that th opening of trade between the
United States and Russia will greatly
stabilize the government
One uch witness is Dr. Marquitz,
professor at the University of Mos
cow, and one of the greatest econo
mists in Russia. He is politically op
posed to the Boviets but will tell the
aanaft that if trade relations are
opendd tehy will arrange their finan
cial and industrial organization to
meet the approval of the world.
At this hearing shall offer a cable
gram from Moscow officially confirm
ing the great contract and the con
cessions obtained by Washington Van
derllp from the soviet government.
The Vanderlip contract provides for
the delivery of $3,000,000 worth of
American commodities to Russia. It
also provides for a concession cover
ing 400,000 square miles of territory
In eastern Russia rich in resources of
oil, eoal, furs and fisheries.
Within the past year representa
tive of corporations and societies In
Russia came to America with ?20,
jOOO.060 In gold to buy farm machin
ery but were informed fhat the goods
could not be delivered.
They went to Great Britain where
the orders were quickly placed. Right
now Russia needs $8,000,000 worth of
'Amerioan shoes.
i - The opinion is held by quite a few
that continuation of the ban now ex
ercised on trade with Russia by the
itavs department is sought by Brlt
tish Interests as a great assistance to
themselves In preventing American
competition.
The treasury department has refus
ed to allow paper based upon Russian
transactions to be used in the federal
banks and l.tve been informed that
Jointly with the state department they
would not mint Russian gold on the
ipretext that this gold might have been
taken from Individuals or banks In
Russia in an Illegitimate way.
Action Is Taken.
"The recent action by the treasury
department In suspending the fiscal
embargo against Russia came as a cul
mination to the efforts of American
business men to meet certain stifling
effeots of foreign competition, such
as the censorship of American cable
grams so dramatically disclosed dur
ing the recent conference.
"We are still wobbling, however, so
far as th government departments
are concerned. The state department
refuses to Issue passports to Ameri
can citizens who contemplate opening
business relations with Russia,
"The postmaster general refuses to
allow mail and cables to be sent to
soviet Russia because we have not
recognised that government.
The first action toward establish
ment of trade relations with Russia
was taken last July when the stats
department ruled that Americans
might do business with that country
at their own risk.
A practical embargo, however, was
maintained at the treasury depart
ment.
The machinery for credits can read
ily be set up, If needed, adequate ma
chinery Is not already available.
Attention Claim Holders
J I have a complete set of plat books for Koxma
and mnrrmmAi n rt Mnntrv fnt savaral mlljMi nn4
am prepared to attend to any land business that
you may have.
A. G Whito
C S. Commissioner,
N. M.
FRENCH MAY JOIN S0IVETS
Revolutionary Temper of Nation Is R
vsaled In Socialist Report.
Tours, France. What was termed
the strong increase ia the revolution
try temper ot the French people and
preliminary Indication that , the
French socialists favor affiliation with
the third Moscow Internationale by
three to one were the outstanding
feature of reprt read at the first
seslson ot th Ft each socialist party
congress. A signtfloaat phaee. 4f the
report was the statement that the so
cialist and revolutionary spirit had
gained great strength la the agricul
tural district Vraaoa
ED. J. NEER,
Undertaker and Embatmer
LICENSED BY 8TATE BOARD
t Calls answered day or night Office phone 67 two rim?.
Residence, 67 three rings. Agent for Roswell and Amar&lo
Greenhouse. Portales, New Mexico.
Complete line of Caskets and Robe
The Old rime Preparations Are Good
and yott will find them all here from DobelTs eolation to
the end of the chapter. All correctly compounded and bearing:
I the guaranteeing label of
s) rut fwcscicifprtoN mug, $toqs
ROSWELL N. M.
GO TO
KEMP LUMBER CO.
SLID A, N. M.
For Wire, Pot, Cement, Lumber and Building
Material, Sash, Door and Hardware
S. G. BRIDGES, Manager.
KENNA BANK & TRUST COMPANY.
Kenna, New Mexico.
OOOOOOO
DTRAIGHT BANKING ON SAFXZ
and sound r.ixrnioD3,