Decatur Daily Democrat, Volume 21, Number 223, Decatur, Adams County, 20 September 1923 — Page 6

FARMER-BANKER CONFERENCES THROUGHOUT NATION DEVELOP WAYS TO AID AGRICULTURE Collective Marketing, Diversified Farming, Promotion of Agricultural Education and Use of Bank Instead of Mercantile Credits Chief Lines of Suggested Action. * By D. H, OTIS, Director, Agricultural Commission, American Banker* Association. ■ ' Four lines of action to improve the business of farming stand out in the discussions that have occurred at a series of farmer-banker conferences now being held throughout A the United States. They are collective marketing, diT versified farming, the promotion of agricultural education and the use of the more economical bank credit rather 1 than mercantile credit At many points active steps to \ foster action along these lines have been taken. * The conferences were initiated by the Agricultural " Commission of the American Bankers Association to the en j t jj at t tj e condition of the man on the farm be improved. D H Otis The first conference was held in conjunction with the Wisconsin College of Agriculture at Madison. An important point of contact for the work of the Commission was established at this meeting in the form of co-operation with the agricultural colleges.

In five other states—California, Washington, Oregon, Idaho, and Utah —it was agreed at subsequent conferences that bankers’ agricultural commitiees would meet at the state agricultural colleges and. In co-operation with the college officials, work out a program that they would recommend to the banks. The Texas Plan It was at the Texas conference that It was developed that the officials of both the bankers' association and of the state college felt the big problem for that state was the establishment of a system of collective, orderly marketing. In order to bring this problem effectively before the farmers and the bankers it was agreed to hold a banker-farmer meeting in December. Efforts will be made to get from 200 to 250 bankers to attend, each banker to bring with him several representative farmers of his community. The program and demonstration will emphasize the need of meeting the marketing problem and point ways to a satisfactory solution. At Athens, Georgia, the conference recommended that the State Bankers Association take steps to raise a fund for assisting deserving students to complete a college course in agriculture or home economics. This conference, recognizing the valuable work being done by county agricultural and home demonstration agents, also went on record as favoring the smployment of agents in each county. At the Raleigh, North Carolina, conference the pressing problem, in addition to loans for worthy students, was held to be encouragement of the farmer to practice greater crop diversification. The conferees felt that the first big step was to get farmers at least Io produce sufficient vegetables, fruit, milk, meat and poultry to live on.

THE GREAT SCOURGE OF HALF TRUTHS By JOHN OAKWOOD A soap-boxer pointed at a great factory. “Who built that factory? i Workmen!" he yelled. “Who run the machines? Workmen! Who get the profits? Capitalists!” • * • The soapboxer told a half truth that amounted to a whole He. His listeners did not know that that particular factory, typical of thousands of others, was a complete refutation of the lie—if only the other half of the truth were told. • • • It is true the factory was Capitalized —for a million dollars. The net profits gave annual dividends of 6 per cent, or $60,000, to the stockholders. All that was true. But it was also true that the million dollar capital was divided up into ten thousand shares of SIOO I each. The ownership of these shares was distributed among about one thousand people. Several hundred of ■ them were workmen in the factory. They were saving out of their weekly wages and buying shares on the instalment plan. They were Capitalists. It was likewise true that shares j were also owned by workmen in other factories, by clerical workers and by small merchants. A good many were also owned by widows and orphans whose modest estates had. been wisely invested for them by their bankers. They were Capitalists. • • * It was also true that the factory corporation had issued a million dollars In bonds to raise funds to buy the material and pay the wages of workmen to build the factory. These bonds were owned as Investments not only by persons of wealth but also by many people of moderate means who had saved out of their wages and sal- ' aries. They were Capitalists. • » • And It was also true that out of the receipts of the factory, before a cent i was taken to pay Interest on the bonds, before a penny was used to pay dividends on the stock, a good many dollars were taken to pay wages to the workmen. * * • The workmen were Capitalists too. They were investing their strength and their talents and their skill.in the factory—they were getting their dividends out of Its earnings as well as the stockholders and bondholders.

Many farmers, it was brought out, now depend entirely on the cotton crop, and buy the products named for their own tables. More Economical Credit At the conference at Ithaca, N. Y., those participating felt that a better understanding between farmers and bankers would be beneficial to both. At present a large amount of the credit used by farmers is in the form of mercantile credit, which. It was pointed out, is much more expensive for them than bank credit. It was felt that a campaign of education is needed to acquaint farmers with banking facilities. The conference, therefore, recommended that the Agricultural Committee of the State Bankers Association, the agricultural college and representatives of the Farm Bureau and the State Grange get together for the purpose of working out programs and plans for further meetings to be held in the various counties of the state. At a conference held at Amherst, Massachusetts, there were representatives from Vermont, New Hampshire, Massachusetts, Rhode Island and Connecticut. Emphasis was placed on the Importance of the Boys’ and Girls’ Club work. The New England conference also felt that the Importance of bank credit over mercantile credit should be stressed. A resolution was adopted and is being sent to agricultural committees in each State urging that they get in touch with their agriculural colleges and map out a program for educating the farmer in regard to the Importance and the economy of bank credit over mercantile credit The emphasis on this resolution came not so much from the bankers present as it did from the representatives of the agricultural colleges and the farmers.

NO BOON IN CHEAP MONEY One thing that has to be gives up is the idea that cheap money is always good for business. Farmers want cheap money, business men want cheap money, stock speculatora want cheap money, the U. S. Treasury wants to float government loans on cheap money, socialists, annrehitsts and old-line greenbackers want very, very cheap money. Everybody feels that when the money rate is shoved up it Is an arbitrary damper on prosperity. But we cannot have both a low rate on money and a stable level of prices. We can have one or the other —not both together for any length of time. A low rate of money means an inflated price level. A stable price level means a fluctuating rate of discount. That Is, the public must learn to look at the price level Instead of the bank reserves, as their measure of expectation for a rise or fall of the value of money. Now this fact makes me feel that a mistake is made if we do not fully explain to the public the power already exercised by the bank rate and the | Federal Reserve Board and Reserve I banks. Our bankers and economists see the bad use that is likely to be made of political control of banking and currency and they try to make the j people believe that so intricate a quesi tion must be left to experts. As a matter of fact our present methods encourage the very thing we wish to avoid. We let everybody believe that tew rates on money are necj essary for prosperity and then when bank reserves run low on account of the effects of this belief, we are suddenly compelled to jump the rates to protect the reserves. We get both a ■ cycle of prices and a cycle of bank rates, whereas, if the public under- ' stood that the rise of bank rates should not wait until bank reserves I are low, but the rates should be advanced several months ahead for the very purpose of preventing a fictitious prosperity with its inflated price ’.arel, then the public might be satisfied to support the administrative regulations , which raise the rates at a time when ; there seems to be no need of doing It.—John R. Commons, University of , Wisconsin. Honors for Club Members The annual convention, Wisconsin Bankers Association, presented diplomas to fifteen boys and five girls successfully completing tour years club work, the first time any state bankers association has taken such action.

DECATUR DAILY DEMOCRAT, THURSDAY, SEPTEMBER 20, 1923.

XRI’OINTMENT or tPMIMSTH ITItIX. Notice Is Hereby (liven. That the und'-i'Hlgned has been appointed administratrix of the ertute of Heine I-?. Van Camp. late of Adams county, decensed. The estate la probably m>l ANNA VAN CAMP. Administratrix. Sept. 5, I»2». „„ Fruchte * Lltterer, Attys. b-13-.O O IPPOIXTHHNT OF tIHIIM'TH VI’OII Notice la Hereby Given. That the ttmleralgned hue been appointed Adinlnlatrator of the estate . «’• Andrew*, late of Adams county, d« - rensed. The outate is probably hoiM. F. ANDREWS. Administrator September 6, 1923. C. 1.. Walters, Atty. B-IS-8O ADMINISTRATOR’S SALE Notice is hereby given, that the undersigned, administrator of the estate of William H. Bollinger, deceased. will offer for sale at Public Auction, ut the late residence of the decedent, one mile south and three miles west of the town of Monroe in French township, Adams county, Indiana. on Tuesday. September 25th. 1923 the personal property of said estate, consisting of 5 head cows, 24 head hogs, 2 heifers, 1 Durham bull, one truck wagon, one farm wagon, one automobile, one hay ladder, one hay tedder, one grain drill, a lot of lumber. one corn planter, one talking machine, a lot of carpenter tools, one corn shelter. a grain drill, a binder, a riding plow, a gas engine, a cream separator, a lot of grain sacks, steel barrel, lawu mower, a fence stretcher, a cider press, a copper kettle, a feed grinder, a disc harrow, a lot of fence posts, one gravel bed. a set of scales, one harrow, a large lot of junk, one bob sled, about 25 tons of hay; also about 14 acres of growing corn and numerous other articles of farming implements, household and kitchen furniture, and various other articles. Terms of Sale For all amounts not exceeding five dollars, cash in hand. For amounts over five dollars and upwards, a credit of nine months will be given. I Note bearing six per cent interest after maturity, with approved security, and waiving valuation or appraisement laws, will be required. WILLIAM A. BOLLINGER, Administrator. James T. .Merryman, Atty. Jeff Leichty, Auct. 6-1 o-U — NOTICE TO HEFEMIVSTS State of Indiana,, ‘circuit Court, SepteAnraonvrw. plaintiff, vs Seorge F. Glendening, Rebecca Glendening. et al. defendants. Cause No. 12011. Suit for partition. Tonhart Comes now the plaintiff, by Lenhart e- Heller his atorneys and lues u' s complaint herein, together with th-, affidavit of a competent person that the defendants. John (. utendtning. Nettie Glendening, Joseph N. Glendening. Emma Glendening. Harriet M. Blimka and Ernest Blimka are nonresidents of the State of Indiana. That said action is for the purpose of partition of real estate in the state «»f Indiana; that a cause of action exists against all of said defendants and that all of said defendants are necessary parties to said action and they are non residents of the state or real estate in Adams countv. state of Indiana, is described In said complaint, to-wit: The southwest quarter of section tvventy-*six (26) township twenty-five (25) north of range thirteen (13) east, containing one hundred sixty (160) acres more or l£ss. Notice is 'therefore hereby given said defendants and each and all of them that unless they be and appear before the Adams Circuit Court at the court house in the city of Decatur, in Adams countv. in the state of Indiana, on the 31st day of October. A. D. 1923, thg same being the 51st judicial dav of a term of said Adams Circuit Court of the state of Indiana, to be begun and holden, commencing on Monday the 3rd day of September, 1923, anil answer or demur to said complaint the same will be heard and determined in their absence. In witness whereof. I have hereunto set my hand and affixed the seal of said court at my office in the city of Decatur, Indiana, this 31st day of August, 1923. (Seal) JOHN T. KELLY, Clerk Adams Circuit Court. Lenhart & Heller. Attorneys for -13--0 SEND IN NAMES As a committee on sending invitations to the Old Home Week of the Presbyterian church in celebration of the 20th anniversary of the dedication of the church we are anxious to get names and addresses of former members and pastors. If you know of any person who would be interested and to whom we can send an invitation, please let us know either by telephone or by sending us your list. MRS. HUGH D. HITE. MRS. JAMES WESTVELD. 221t3 o Many of the most gorgeous coats as well as those figured tweed are revesible and may be worn with the plain or figured side to the fore. CHIROPRACTIC Chiropractic is the key that unlocks the door to health. Come in and let us unlock the door and bring you back to health. Smith & Smith, Chiropractors Office over Morris 5 & 10 cent Store Decatur, Ind. Phone 660 Calls made day or night. | INVESTIGATE CHIROPRACTIC For Your HEALTH Phone 628 ever Keller's (DrudiessSystom) cls d MflHth. J or nl K ht - CHARLES & CHARLES, D. C. Lady Attendant.

!■ MJ M. . ■— —I •" M> — UTILITY OWNERS Who are the people who Invest In public utility securities- Are they the rich, the poor, or the people of moderate menus? An investment house, which deals In utility securities, recently obtained some illuiuinuting information | on these questions. It required as to the occupation of 1,680 buyers of utility securities just as they came in, and these answers were recorded; Housewives headed the list, clerks came second and mer chants third. Seventy-nine different occupations were represented in all. This wide variety of occupations is somewhat amazing, even when It is considered that securities of public utility companies are, and have been for many years, the favored investment .of the person of moderate means. The occupations of the buyers of utility securities are as follows: Housi wives, 288; clerks, 262; merchants, 86; salesmen, 67; stenographers, 66; railroad employes, ;50 executives. 44; widows, 40; school teachers, 39; mechanics, 39; doctors, 34; laborers, 29; manufacturers, 25; real estate men, 22; contractors, 21; engineers. 20; grocers, 20; lawyers, 20; seamstresses, 18; retired, 18; 'butchers, 18; insurance agents, 18; bookkeepers, 17; housekeepers, 16; printers, 15; janitors, 15; nurses, 13; druggists, 13; professional, 12; postoffice employed 12; tailors, 12; electricians, 11; waitresses, 11; children. 10; servants, 9; truck drivers, 9; agents, 9; policemen, 9; firemen, 8; landlords, 8; saloonkeepers, 8; architects, 7; hotel owners, 7; cashiers, 7; carpenters, 7; coal dealers, 7; painters, 7; city employes, 6; factory help, C; restaurant owners, 6; students, 6; barbers, 5; commission merchants, 5; ■ dentists, 5; letter carriers, 5; minis- , tors. 5; foremen. 4; soft drink pro-

pF ; -i- H >! -Mih"’ if’ ls j ’ s rfl.TpKfefe? f■ ’ k - AMLif* ii,- k <nu ' cA, /or* k. * • .. .<>■ th W-twrar -Xn.s!nKi 15 .’eir.l IU.'X-■ .* - Seven Per Cent with Safety THE Northern Indiana Gas & Electric Company in a desire to establish! closer relationship with its thousands of customers, now invites the public to become partners in the business. This is an unusual investment opportunity whereby our patrons can share in the earnings of the business they support—a safe established industry with assurance of continued dividends. The properties under the management of this Company furnish gas and electric service to Hammond, Whiting, Indiana Harbor. East Chicago, Michigan City, Lafayette and other important industrial centers. They , supply gas at Fort Wayne. Plymouth. Peru, Logansport, South Bend, Crawfordsville, Decatur. Wabash. Frankfort. Lebanon and other towns. ( The combined population of the 37 communities served exceeds 520,000. Over 143.000 customers are now on the hooks. Gross revenue of the Northern Indiana Gas & Electric Company for 12 months ended June 30, 1923. was $7,309,957. I » We offer a limited issue of Class A 7'< Cumulative Preferred Stock of the Northern Indiana Gas & Electric Company. The price per share is $98.50. From the earnings of the Company this stock will pay you $7 yearly on every share you own. These dividends are payable in quarterly installments every three months. Purchase can be made for cash or through our easy saving plan of $lO down and $lO monthly. Buy your stock today al the office or from an employe. For information mail the attached coupon today. I This stock is free from taxes in Indiana and is exempt from the normal i federal income tax. Northern Indiana Gas & Electric Co. 105 North Third Street > Mail Tl* S Northern Indiana Gas & Electric Co. 1 LUS 5 Decatur C'rtii-hnn Without obligating me, please send information about the investmeat you ocer and how my money can safelv earn 7% here at Now |£; $ Address

prietors, 4; watchmen, 4: stockyard employes, 3; bricklayers, 3; elmuft, ur.-i, 3; dry cleaners, 3; laundryman, 3; telephone operators, 3;

Parents who see our (Ft"!!" Boys 2 Trouser Suits ® A--513.50 to $15.00 are V unable to see any- gq thing else. ■ fl Kiilim * v * } ■ im / Granting Hint you have a dose friend for a neighbor whose business is selling boys clothes " wSSBp Granting that you are out for the best buy /y\ x • for your son tind your salary 11 / (iranling that you decide to investigate the 1 Mi < laitn intide in this adverlisement f • / ’Hie ‘’tilcoine will be that you will either / buy here or turn our proposition down with 2 Pair of Pants Suits double Vwi the wear and give a suit for school days and Sunday comJ BBS 1 * > ’ n< ’ < al * w ° ,)r ’ ces — 5 1 " Sfi' sl3 - 50 sls - 00 I UCTu. i —WO repeal the price again because * s repeated by hundreds of parents in Decatur right this minute. Go J BETTcR CIOTHES FOft LESS J At ONEY - ALWAYS — -DECATUR* INDIANA* ■

beauty parlor owners, 2; blnckHinltlis, 2: boarding house proprietors, 2; ’levator operators, 2; garage proprietors. 2; niush luns, 2; milk wagon

drivers, J; politicians, 2; porters 1. plumbers. 2; plasterers, 2; scrub Ho . men, 2: telegraph operators, 2; un,|.- r takers, 2; newsboys, 1.