Indianapolis Times, Volume 38, Number 216, Indianapolis, Marion County, 15 December 1926 — Page 13

DEO. 15, 1926

GOLD COINS AND NEW CURRENCY POPULAR GIFTS Federal Reserve Banks Stocked to Meet Demand. Ilu Times Special NEW YORK, Dec. 16.—The annual "gold rush” upon the country’s hanks, which will start a stream of golden coins flowing into Christmas stockings, has begun. Stacks of gold pieces in the $2.50, $5, $lO and S2O, denominations are now leaving the vaults of the Federal Reserve Tanks by the truckloads, bound for virtually every small country bank as well as the large city institutions, preparatory to a wide public distribution during Christmas week. Every week the reserve banks have watched a growing movement of these gold pieces in the form of t’histmas gifts and then suddenly ifter the holidays, seen them all pour back, to become a part of the hank reserves until another Christmas rolls around. executives of the Chase National Honk of New York, one of the country’s largest financial ’ntitutions, estimated yesterday that between $80,000,000 and $90,000,000 in gold coins would be withdrawn rum the banks of the country this ar. They point out that the custom of distributing gold coins in he form of gifts has been steadily rowing In popularity, and Judging current demand, more gold pieces ban ever will find their way into Chtiwtmas stockings this year. New Quarter Eagles More than $75,000,000 in gold was put into circulation throughout the

4302

Evangelists Busy With Revival

J. E. and Ada Redmon An evangelistic campaign now in progress at the North Side Churcn of the Nazarene, corner of Eugene St. and Barnes Ave., with Evangelist J. E. Redmon and his wife Ada, will continue all this week. '

country last year as a result of this gift custom. Within the past two weeks New York banks have withdrawn about $5,000,000 In gold coins and before the holiday rush is over the Federal Reserve Bank expects to see between $15,000,000 and $20,000,000 pass into the hands of the New York public alone. For the first time in years the Treasury Department has minted a limited amount of new $2.50 gold pieces as its contribution to the holiday movement. The scarcity of these coveted quarter eagles has been so great that they have commanded a premium of from 25 to 50 cents, and have tended to disappear almost entirely from circulation, except at Christmas time. New York Federal Reserve Bank, despite the addition of the newly minted gold, has available for distribution this year only $240,000 of the $2.50 coins, and will be obliged to make allotments of them to all banks in this district. The apportionment is based on the experience of the Federal Reserve authorities

in meeting the demand of previous years. Supplies of the larger pieces will be ample. Not Ail Return The peak of the public demand for gold coins will be reached in the three days immediately preceding Christmas, when tellers in the banks of the country will be kept busy passing them out along with other money in the form of Qhristinas bonuses. Most of the gold, as well as the currency, will lie returned by the middle of January, but officials of the bank have noted that the number of coins coming back is always smaller, and that only a few of the quarter eagles get back into circulation. Even the savings banks, which are the first banking destination of many Christ mas gold pieces, handle few of the $2.50 pieces. Rivaling the scramble for gold a* this time of year is the expansion ir the demand for currency, particularly crisp new bills. Withdrawals of

The Standard Oil Company (Indiana) is ‘Visionary,” not impractically, but in the sense that individually and as a unit it works with vision. Work without vision is plodding. Employes of the Standard Oil Company (Indiana) work with a will because they work with vision. They realize that their efforts are a small but important part of a great unit. The man who drills an oil well has a vision that goes beyond the drilling of wells. He knows that he is helping to supply the people of the Middle West with the petroleum products they need —the best that can be produced. His work is important because it is part of a great service. The Standard Oil Company (Indiana) as a unit works with vision. It is not concerned with making so much gasoline to bring in so much money. It works with the vision of serving the people of the Middle West, confident that service is rewarded in proportion to its just deserts. The production of special gasoline and lubricating oil for aeroplane use is one of the latest evidences of the vision of the Standard Oil Company (Indiana). Wheij the Standard Oil Company (Indiana) foresaw the growth of commercial aviation, it visioned the remote comers of our great country brought close together by the aeroplane. The success of the Air Mail demonstrated how swiftly and surely the aeroplane might serve as a commercial carrier, annihilating distance. The Standard Oil Company (Indiana) has demonstrated clearly that the use of air mail is true economy. Progressive firms concur in this finding. Today air mail is a recognized business asset The Standard Oil Company (Indiana) realized that the producing and consuming territories of this country will be linked together in time by commercial aviation. For business purposes America will some day be a large, unified whole. The work of the Standard Oil Company (Indiana) to cooperate in bringing about this vision was plain. Aeroplanes require special gasoline and lubricating oil. Immediately the Standard Oil Company (Indiana) set to work to meet this new need with all the skill and resources at its command. The development of gasoline and lubricating oil perfectly adapted for aviation uses is the contribution of the Standard Oil Company (Indiana) to America’s air service. This is one example of how the Standard Oil Company (Indiana) works with the vision of serving the thirty milhon people of the Middle West. The Standard Oil Company (Indiana) is “visionary,” but this is consistent with its practical business principles, for success is the inevitable reward of service that is sindtre. Standard Oil Company ( Indiana) General Office: Standard Oil Bidding 910 So. Michigan Avenue, Chicago

THE INDIANAPOLIS TIMES

currency on a large scale started shortly before Thanksgiving and will expand progressively until Christmas, after which the return will be just as rapid. Based on the movement of previous years, the New York Federal Reserve Bank expects to pass out between $100,000,000 and $200,000,000, while the enlarged cir- ' dilation for the country, as a whole, j will be between $300,000,000 and I $400,000,000. j Each year, with the regularity of the “Old Faithful’’ geyser, this flow of gold and paper goes over the country—and within a month it returns to Its source. A Boston restaurant owner bases his daily menus on the forecasts supplied him by the weather bureau. Ills patrons call for different kinds i of food on hot and cold days.

Wondered Why Breath Was So Bad

Miss Rose Dittmar, Brooklyn, writes. —‘‘Even though I brushed my teeth and used a mouth wash, my friends turned away when I talked and I wondered why my breath was so offensive, while people less careful were not troubled. After taking Carter's Little Liver Pills for a while the trouble started to disappear. I also noticed my ’ace had better color and was clearer. my eyes brighter, my appetite nore hearty and I had no constipation.’’ Bad breath must be reached it the source of the trouble. Druggists, 25 and 75c red package.—Advertisement.

n. Wo Dait}> Trains mm Th? Floridan mJ — the epitome of Luxury—all-steel—all-Pull-man train through to Miami daily—earliest fv*’’ \ "| - ' £ arrival j- three-hour faster schedule than •- Leave Chicago 12:25 p.m. Arrive Birming--C ham 5:50 a. m., Jacksonville 8:50 p. m n Palm Beach 6:00 a.m., Miami 7:20 a.m.,Tampa 7:00 fe|,VT *bll§|L a. m., St. Petersburg 8:15 a. m., Sarasota 9:50 a. m. Through Pullmans. Advance reservations made. Convenient connections at All de luxe accommodations—valet, maid, 1 r B|j| manicure, barber, shower Market rej r i £jk i's Dependable All-Year, AldSteel Train l JP j* ill De luxe Pullman accommodations to Florida’s East and | West Coasts. Coaches. Dining service. Maid service. fc Jj, raffiP Leave Chicago daily 9:30 p. m. Arrive Birmingham jfe? ?s"#<'firW 3:55 p.m., Jacksonville 7:00 a.m., St. Augustine 8:30 * ® a. m., Daytona Beach 9:55 a. m., West Palm Beach 3:30 p. m,, Miami 5:30 p. m. Arrive Tampa 4:40 p.m., /// ; r '' ,; >c ' Fort Myers 7:20 p. m. Through Pullmans. |1 J 1 For farand reservations, ask £ '* „'' * * '* X' - J. M. Moriaey, DUtrict Pa’r Agent, Illinois Central Railroad 315 Merchants Bank Building, 1 S. Meridian St. \ | <* ''p M> ' jl ,* £Phones Lincoln 4314-4315, Indianapolis, Ind. . Florida Book * X newest map of Florida, free for the asking. Simply fill jT 'the FLO AD OF T R.AVEL LUXURY ' J. bLMofisey, Pl.t, P.n’r Agent. Tllinob Central Railroad j '* /( Pleaso sand, without coat to me, copies of publications V /I checked. D Florida Book. □ Neweet Map of Florida. l 1 ,01 p.rllruU.l, lnt.ie.t.J In j

PAGE 13