Jasper County Democrat, Volume 16, Number 104, Rensselaer, Jasper County, 4 April 1914 — Page 4

12 FEDERAL RESERVE BANKS ARE NAMED

Districts Into Which Country Is Divided Revealed. CHICAGO HEADS SEVENTH / New York, Cleveland, Minneapolis, St. Louis, Kansas City, Atlanta, San Francisco and Dallas Also Centers.

Reserve Bank Cities Named Under Currency Law.

Dist and city. Capital. 1— Boeton $ 9,931,740 2 York 20,687,51 S 3 Philadelphia 12,993,013 4 Cleveland 11,621.535 5 Richmond, Va................ 6,543,281 6 Atlanta 4,702,780 7 13,151,925 8— St. Louis 6,219,323 9 Minneapolis ......... 4,702,864 10— Kansas City.................. 5,594,916 11— Dallas, Tex............. 5,6^4,091 12— San Franci5c0................ 8,115,524

Washington, April 3. —Chicago is the headquarters of the seventh reserve banking district established by the federal organization board composed of Secretary of the Treasury McAdoo, Secretary of Agriculture Houston and ; John Skelton Williams, comptroller ! of the currency, in accordance with ; the new currency law. The reserve bank cities of the 11 other districts, which were delimited, are Boston, New York, Philadelphia, Richmond, Atlanta, St Louis, Kansas City, Minneapolis, Cleveland, Dallas and San Francisco. The Chicago district includes the entire state of lowa, the southern part of Wisconsin below an imaginary line drawn from La to Lake Michigan. that part of Michigan east of Lake Michigan, all of Illinois north of an imaginary line crossing the state Just south of Springfield, and ail of Indiana, north of an imaginary line drawn from Terre Haute in a southeasterly direction to Aurora, Ind. To Provide Branch Banks. The organization board was not authorized by law to provide for branch banks Of the federal reserve banks, but the act specifically says that such banks shall be established. This task will be left to the supervision of the I federal reserve board to be appointed by President Wilson. The organization committee an- ! nounced that all information it had | collected since it began its work last 1 December would be placed at the dis- j posal of the bapks and the board when the establishment of branch banks was considered. ;. The division of the country into districts and the selection of reserve bank cities constituted tlie first step toward the establishment of the new j •system. A statement issued by the organization board in announcing the choice of cities and the definition of districts says at least 7.54 S banks of all sorts will be members of the sys- 1 tem, with total capital and surplus of $1,831,648,369. Their six per cent subscriptions would amount to $lO9898.902. The committee called attention to the fact that under the requirements Qi the act it could not find grounds for the establishment of more than one bank on the Pacific coast, but held out the hope that in the near future another bank would be authorized by congress and located somewhere in that great section. Next Step for Banks. The next l step to be taken by th 4 organization committee will be the notification to banks entering the system of the plans for the districts. This notification will follow the formal certification today of the committee's action to the comptroller of the currency. \\ ithin thirty days after such notice is received by banks, each must, under the law, begin payment for its stock in the reserve bank in itsidistrict. > Each bank must subscribe six per cent of its combine; 5 capital and surplus. The capitalization announced for each district is based ”.pon this six pSi- cent subscription. The payment of subscriptions by banks will be spread over many months, but meantime President Wilson is expected to announce the five members of the federal reserve board. An announcement may not be made for at least a month. To Rush Rest of Work. Secretaries McAdoo and Houston and Comptroller Williams spent most of the last three months in this work. Extraordinary precautions were taken to prevent knowledge reaching outsiders: even members of congress werf denied information Until the announcement of results was made. Although the progress of organizing the new .system will not be rapid, it is the intention of the committee to act as quickly as the law' permits that the reserve banks may !>e set up for business as soon as possible. The usual statement of the comptroller following the last national bank call, issued Wednesday, showed banks in excellent condition Jp meet the demands to be made for subscriptions to reserve bank stock. It is the hope of. the committee that the gradual transition necessary under the new law will be made easily, without disturbance and without any curtailment of credit

URGES HIGHER RATES

PENNSYLVANIA HEAD CALLS FREIGHT TOLLS TOO LOW. Samuel Rea Testifies Before the Interstate Commerce Commission at Washington. Washington, April 3.—Testimony of eastern railroads in support of their application for a five ser cent increase in freight rates virtually was concluded before the interstate commerce commission by Samuel Rea, president of the Pennsylvania system. Beginning today, the lake-and rail shippers will be heard in opposition to the increase, and it is probable that all evidence for both sides will be completed within the next few days. Presidents Willard of the Baltimore & Ohio, Delano of the Monon, Smith of the New York Central, and Rea of the Pennsylvania will be recalled for cross-examination. Mr. Rea declared that present rates did not yield a fair return upon the capital Invested; that the return had been decreasing continuously, and that unless the downward trend were arrested it would undermine railroad resources and cripple their power to satisfactorily serve the public. Mr. Rea said that only recently the Pennsylvania and some other lines had been obliged to curtail their operating expenses by laying off employes and reducing the number of trains oparated because of the falling off of freight tonnage and passenger traffic. While he did not assert that the advance was “necessary to the maintenance of the Pennsylvania Railroad company’s dividends in the immediate future,” Mr. Rea declared that “any general idea that the Pennsylvania’s position was so strong as not to need any additional revenue is not correct.” He added that the Pennsylvania had earned only 4.84 per cent during the fiscal year of 1913. Pittsburgh, Pa., April 3. —Retrenchment on the Pennsylvania west of Pittsburgh, as announced by the general offices here, has already taken the form of 25 passenger trains, with 25 more to be annulled April 5. Reduction in working forces began late in the fall, and on January 1 last 13,000 less men were employed than on the corresponding date of the year before.

Fire Destroys Electric Service.

Deposit. N,' Y.. April 3. —The poweiy house of the Deposit Electric company was destroyed by fire, leaving the town without electric service of any kind. *

THE MARKETS

Grain, Previsions, Etc. Chicago. April 1 * Open- High- Lew- Cloe-WTu-iit— ins: «st. est. ing. Miy 9!is-V .9!%-\ 91 91V •TuTr .V.-.WVB7- -87% -S7VH Sept. 8614 .87 .868, .87 Corn— ■ ■■ Mav ...67%-% jTT% .6781 .67’-/ •July 68 V l * -65% .68 .68-V F.c'pt, ...0.-68% -6S>« .68 , 685 b Oats-f- | .\i a v % .39 .8854 .38% Jury ...29\. .23% .39% .394, Sept. ........37N 35% .37-% .38 Vi TT.Ot'U—Spring wheat, patent. Minneapolis brand, wood, ss.6fi to retail trade; Minnesota an<J Dakota patent; $4.2004.40; jute, straight, $4-®*64.10; first clears, jute, K..VKi3.ro. second clears, jute. $2.5f»@2.75: low grades, jute: $2. V ti2.,V>. winter wheat, patents, jute, $4,206-440; straight, jute, $3.7563.80; rye flour, white, patent. $2,706 3.00: dark, *2.506 2.70. BFTTKR—Creamery, extras. 21V4c; extra firsts. 23%<f/23%<-: firsts. 21@22e: seconds. IS62V; packing stock, ISwaiSc. EGGS—MiscellanrSius lots, eases Included. 16", ?iIso; rases returned. l 6V 4 41t7%e: ordinary ti*ts. 164,(817*40; firsts. 17\@lRc: extra, 203i@21c; seconds. 15%i ; dirties. 16c. LIVK DOFT.TRT—Turkeys. 15c: chickens. fowls. 18c; springs. 18c: roosters. 12c; geese. 14c; ducks. 16617 c; guinea hens, $4.006 4 50 per doz. POTATOES—Wisconsin, white. 6264>5c: | red. •. Minnesota, white. 62668 c: red. 6m6650. Michigan, white, 62668 c; red. 6ST? !«*■ i New York. April 2. WllKAT—Strong, trade moderate-. No. | 1 northern. $1.01*4; No. 2 red. $1.05; No. 2 hard. ft. 00%; May. SI,OO 7-16: July, 96%c. CORN—Stronger, quiet business; export, 744ie; No. 3 yellow. 75%c; Argentine 740OATS—Steady. quiet trade; No. 2 white, j 15645 V;. standard. 44*46450; No. S white. ' 44644 v. Live Stock. Chicago: April 2. CATTLE—Steers, good to choice heavy. $8.5069.50: steers, fair to good, $7.6508.60; yearlings, good to choice, $8.0009.30; inferior steers. $7.0007.50; stockers. $6.0007.40: feeding steers. $7.2568.00; medium to good beef cows. $5.25(86.10: stock cows. $5,000 5.50; fair to choice heifers, $7.25(88.25; stock heifers, $6.0067.60; good to choice cows, $5.7507.25; common to good cutters, $4,250 4:75; butcher bulls. $6.0007.25; bologna bulls $5.7506.40. HOGS—Choice light. 1600180 lbs.. $8,650 : 8.90; light mixed. 1700200 lbs.. $8.6008.72%; prime light butchers. 2000230 lbs., $8,650 8.77%; medium weight butchers. 2300270 lbs., $8.6008,75; prime heavy butchers. 270 0300 lbs., $8.6008.75; mixed packing. $8,500 8.60, heavy packing. $5.4508.57%; pigs. $7.50 @8.40. ——— Y !'• East Buffalo, N. Y., April 2. CATTLE—Market active and steady: prime steers. $8.9009.15: butcher grades. $6.0008.26. | CA i,VBS- - Market active and steady; ■ cull to choice, $6.00011.00. SHEEP AND LAMBS—Market active and steady; choice lambs. $8.3568.50; cull to - fair, $6.0008.00; yearlings. $7.0007-10; sheep. $3.0007.10. HOGS—Market active, 10c higher; Yorkers, $9.2569.30; pigs, $9.0069.25; mixed. $9-25; heaw. *9,1069.15; roughs. $8.0008.30:, stags. $7.0007.26. Omaha, April 1. , HOGS-Heavy, $8.3508.45; light. $8,250 8,43: pigs, [email protected]; bulk of sales, $8.35@ R4O. CATTLE—Native steers, $7.2508.75; aows and . heifers. $6.0007.T0; western stesrs, $6.2508.00; Texas steers. $6.0007.50; oows and heifers, $5 7507.09; calves, $7.50010.T0. SHEEP— Yearlings, $6.7507.60; wethers, $5.0006.83; lambs. $7.2608.50.

Hoosier News Briefly Told

Kendanville—Boston Somerldtt of Angola committed suicide by drinking poison. Nashville. —Schools in Johnson and Vanßuren townships have been closed because of smallpox. Logans port.—A suffrage demonstration will be held here May 2 as part of the National association’s plans. Winchester.—Twenty cases of scarlet fever are reported at the James Moorman Orphans’ Home near here. Covington.—Mr. and Mrs. Simeon Minniek have just celebrated their seventy-second wedding anniversary. Mitchell.—Thre Lehigh Portland Cement company will build a cottage here for the captain of the Salvation Army corps. Evansville. —Farragut Post, A. R., has indorsed the candidacy of Thomas B. Buskirk of Paoli for commander of the department of Indiana. Ilutton.—Mrs. Mary Penman, fiftyfour years old, committed suicide by Jumping into a well. She left a note saying she was a “bother to everybody.” Aurora. —The explosion of an oil lamp started a fire which destroyed the large poultry house belonging to Hallie C. Driver, principal in the pub- ■ lie school here. 1 Jeffersonville.—The building committee of the St. Lucas German Reformed church has accepted plans for a new building at Maple and Walnut streets toncost $25,000. : - Tvansvfrie.—Jack Williams, colored, a bartender, w'hose skull was crushed with an ax by Homer Goggens, another negro, is dead Goggens is charged with first-degree murder. Columbus.—C. P. Cole, custodian of the Masonic Temple here, went to a surgeon eight years after he struck his right elbow on a projection and found the elbqiv was out of place. Hammond. —Three tons of live hogs were consumed in flames In a fire which destroyed the farm of Edward Yates, a stock raiser, near Lowell. Standard Oil tanks near by were endangered by the blaze. Insurance covers the loss. Shelbyville.—Mr. and Mrs. John Yalrlng escaped injury when their machine skidded and went over a ninefoot embankment. Mrs. Enos Porter suffered a bruised back when her husband drove his automobile into a bridge, wrecking the machine. Princeton. —Willie Waldo, twentyfive years old, a professional pickpocket, who was sentenced to the reformatory from here and is free, pending appeal, is in this city seeking affidavits of physicians. He is helpless from paralysis and hopes to escape the prison term. Marion.—Lewis Davis, agent for the Terre Haute Brewing company here, pleaded guilty to a "blind tiger" charge in police court, and was given a fine of SSO and a sen- | ter.ee of 30 days in jail by Mayor Batchelor. V > Nashville. Dr. and Mrs J. G Ward celebrated their golden wed ding anniversary at their home, near Needmore. Mr. Ward is seventy years old and his wife forty-five years. He has been a practising physician 37 years. Winchester. —Judge James S. Engle sentenced four young men to serve from one to eight years in ! the penitentiary for petit larceny.* | The prisoner§''~are James Turnbolt, | John C. Wilkinson, Oscar and John j Taylor, who pleaded guilty. They were arrested several weeks ago after entering the drug store owned by Thurman E. Porter at Parker City Rochester. Mrs. Anderson Yost, seventy years old, had a narrowescape from death here when she : attempted to rescue a number of cattle from a burning barn, The structure was struck by lightning. Mrs. Yost escaped with a few burns and is now under the care of a physician. The loss amounted to $1,500. None of the cattle was saved. I Marion. —Lilly Meeks, recently eonvicted\ by a jury in police “court on a “blind tiger” charge, fined SSO and sentenced to 30 days in jail, withdrew her notice of appeal to the circuit court and will pay the fine and serve the sentence. Velan Bow--ser, who was fined SIOO by Mayor Batchelor for Illegal selling of whisky at the Patterson drug store, was fined SSO by a jury in Circuit court, to which he had appealed. Rochester. —The body of Elmore Davis, sixty-one years old, who committed suicide, lay in his room in this city until the county coroner, returned a verdict. Davis returned recently from Oklahoma. w l here he hid spent 12 years and improved 160 acres of land. He blew off the top of his head with a shotgun. Members of his brother’s family, over whose store he lived, hbard the shot, but did not investigate until several hours later. * Columbus. —Albert G. Colter, who was serving a 190-day jail sentence here for robbing the mercial hotel of jewelry and clothing i few weeks aW escaped. Shortly iefore Colter was brought here for Irial he was convicted on a petit larceny charge in the Johnson circuit sourt at Franklin, but his sentence of from one to eight years to the Indiana reformatory was suspended. Jasper.—Mike Kripskey, w-ho said he stole a watch, intending to sell it to buy food, was sentenced to from one to eight years in the Jeffersonville leformatory.

Have you seen the new , Hart Schaffner & Marx j Style Book? IT’S now ready; and it’s worth your while to look it over carefully. You’ll get the right ideas about the kind of clothes you ought to wear. The book will do these things for you: I Show you in a senes of fine illustrations, the correct ,! styles in clothes for men and young men. 2 Tell you why ready-clothes are best for you to buy; and why Hart Schaffner fa. Marx clothes are test among ready clothes. 3 Give you some good suggestions as to what you ought to pay for good clothes. 4 Give you qpme information as to the effects of the new tariff law on men's clothes. j These are a few of the interesting points in the book; it’s worth any man’s attention; let us know if you don’t get a copy. THE G. E. MURRAY CO. This store is the home of Hart Schaffner & Marx clothes

Seven armed men entered the Fima National bank at Elma, In southwest W ashington, made a prisoner of the caehier and escaped with about three thousand seven hundred dollars. * * * Col. George W. Goqthals is now governor of the Panama canal zone. In conformity with his own wishes no ceremony marked the occasion. Colonel Goethals issued his last circular as chairman of the isthmian canal commission and his first circulars as governor, promulgating a permanent form of government in the zone. * * • Opposition to the passage of administration anti-trust bills, and particularly the federal trade commission bill, is voiced in the report of a specßLl committee of the chamber of commerce of New York. The report recommends that no legislation likely to disturb business conditions be enacted at the present session of congress. * * * The New York Chamber of Commerce has received the draft of a resolution asking the president and congress to move slowly in the matter of trust legislation. * * * Mexican Revolt American ranchmen who arrived at Eagle Pass, Tex., from the Mexican interior reported that the constitutionalists under General Murgia had repulsed federal reinforcements under Colonel Acosta trying to enter Torreon. Colonel Acosta is said to have commanded about nine hundred men. * * * General Francisco Villa has been wounded in his bitter attack on Torreon and forced to retire from the battle line, according to a report from Chlhauhua.

mwm fUnder this head notices will be published for 1-cent-a-word for the first insertion. 1-2-cent-pcr-word for each additional insertion. To save book-keeping cash should be sent with notice. No notice accepted for less than twenty-five cents, but short notices coming within the above rate, will be published two or more times —as the case may be —for 25 cents. Where replies are sent in The rteihocrdt’s care, postage will be charged for forwarding such replies to the advertiser.] For Sale —-Flower pots, all sizes from 214 ipch to 12 inch.—KlNG FLORAL. CO., phone 132. For Sale —Good sound serviceable work team; also wagon and harness, new last spring.—C. L. MORRELL, Rensselaer; Ind. For Sale- —Coming 2-yeer-olti b northern bull, weight 750. A good one.—JOHN J. BORNTRAGER, R-3, phone 515-J, Rensselaer, Ind. For Sale —Good high Class piano, oak case, splendid instrument and in fine condition. Will be sold cheap, cash or time. —FRED A. PHILLIPS. ts For Sale—Alfalfa hay, native grown, of small stem and superior to

irrigated product. We cannot deliver. ! —C. F. MANSFIELD farm, Renfese laer. ■ < For Sale —Four young mules ready ’or spring work, 2 three year old, 2 four year old: also 15 bushels choice clover seed, recleaned.—P. T. HOR--I)EM AN, Rensselaer, R-2, phon& 507-G. For Sale—Two young mares, both in foal; also one yearling colt Will sell for cash or on time, iy 2 miles i west of Gifford, 9 miles north, 2 miles east of Rensselaer.—\VM. MARKIN, Parr, iiid. For Sale—l yearling Jersey bull, well bred; 1 Polled Durham bull! coming 2-year-old in July. Will sell either or both or trade for cows or heifers.—F. W. FISHER, R. F. D., Tefft, Ind. For .-ale—Good medium sized bouse, good barn, city water, electric lights, etc., all in fine condition and well located. Price S9OO for quick sale, half cash. Enquire at DEMOCRAT OFFICE. For Sale—lsl acre farm 3 miles south of Rensselaer, well improved. Farm adjoining sold recently at $l6O per acre. Will sell at a sacrifice, SBS per acre, if sold by May 1 HARVEY DAVISSON, phone 246. For Sale Cheap to Settle Estate— Good 6-roont house, located 2 blocks of court house on corner of two improved streets, 3 lots, all kinds o 1 ruit, well, cistern, etc., good barn. Call on HARVEY DAVISSON, phone 246. For Sale or Exchange—64o acre section, N.E. Colorado. 9 miles Crook, South Platte Valley land; 400 acres in body, good valley land; balance hilly. But few rods from North Sterling Irrigation Canal. SIO,OOO, $3,500 cash, balance your own time, or exchange for good rental property.—GEO. W. JONES, Remington, Indiana. For Sale—Stock and business of Fair Oaks livery, consisting of two small driving teams, 1 good carriage, 1 storm buggy, 2 top buggies, 1 open single buggy, 1 trunk wagon, 2 sets double harness, 1 set single harness, lap robes, horse blankets, etc. If looking for a bargain,\ Investigate at once.—J. M. ALLEN, Fair Oaks, Ind. For Sale—Farms of different “sizes in this and adjoining counties, and some for exchange. Also city and town property for sale and exchange. List your property with me and J will promise a square deal. Choice alt all a, wheat, corn and pasture lands for sale from $25 and up.— JOHN O’CONNOR, ex-sheriff Jasjier county, Rensselaer, Ind. WANTED Wanted—To borrow $1,200 to sl,500. Farm land security, will pay 6y 2 per cent interest.—G. F. MEY* ERS. Wanted—To rent a farm from 80 to 200 acres, by first-class tenant. i Tenant is personally known to me.— G. F. MEYEIRS.

Wanted—ls or 16-year-old boy to do chores and light work on farm. LEE E. GLAZEBROOK, Rensselaer, R-2. Wanted—Good, boy to sweep out office, build fires and make himself generally useful about printing offige.—THE DEMOCRAT. Painting Wanted—l will again take up painting for the season, after April 24, and solicit a share of your work.—CHARLES M. BLUE, Rensselaer. Ind. Wanted—A good writer who will do copying at the Court House toward a scholarship at the Lafayette Business College, Lafayette, Indiana. Good wages, write at once. ts Wanted—l have several inquiries for small farms, 40 to 80 acres. If you have sudh a farm that you want to sell at a right price, list it with me.—HARVEY DAVISSON, Rensselaer, Indiana. ~ --■■<■ ■ l MISCELLANEOUS. Estrayed—March~ 24, white sow, wt. about 115 pounds. Finder please notify me at once.—ORVILLE FJSHer, Wheatfield, Ind., R-l. K. C. Rhode Island Reds—Rose Comb Red eggs for hatching, price reasonable. Won first Cockerel, first bullet, Newton county* show, Morocco, Ind., January, 1914. Write me.—THOMAS J. BRITTON, Kentland, Ind. a . 20 Posts for sAle— Good white oak posts, extra heavy, about 3,000, also some extra heavy corner posts and braces.—J. C. BORNTRAGER, 3y, miles south of Rensselaer, R-4 phone 529-A. - ■' - ■ Free—We will give absolutely free a handsome “Webster’s Dictionary” of the English language, over four hundred pages, cloth hound, and will send it post paid, for just a little information, which you can furnish us without any trouble. Write for particulars. Address—CONTINENTAL NAME SUPPLY CO., 3857 De Tonty, St. Louds, Mo. Calling cards, the correct sizes, both plain and linen finish, constantly in stock in Tho Demoarat’s fancy stationery department. financial harm Loans—Money to loan on farm property in any sums up to SIO,OOO.—E. P. HONAN. Farm Loans—l am making farm loans at the lowest rates of interest. Ten year loans without commission and without delay.—JOHN A DUNLAP UA nln hnl Without Delay > 1l F Commiss on, 11) Iv) Charges for ■ Making or Recording Instruments. W. H. PARKINSON. An armload of old papers for a nickel at The Democrat office.