Richmond Palladium (Daily), Volume 38, Number 152, 7 May 1913 — Page 2

PAGE TWO.

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, WEDNESDAY, MAY 7, 1913

POWERS FOR HEW RUMELYJEAD STATED C. S. Funk to Have Complete Control and Will Have Directors and Officers Resignations.

(Continued from Page One.)

have the resignations of all the Rumely staff and will be at liberty to change completely the personnel of the concern ' Business Being injured. ' By these changes the bankers and stockholders hope to get the Rumely company down to earth again. Its affairs, commercially and financially, became such that It is understood Cyrus McCormick, president of the International Harvester company, was willing to part with General Manager Punk because the agricultural implement business was being injured by the Laporte concern. The changes mentioned. among others, had to be made before the banks of New York and Chicago would help the company to get out of the distressing, financial position which the old management had brought about. ' The founder t)f the Rumely company had . built up a modest business in tnrashing machines and other farm machinery at Laporte. After his influence ceased other members of the family came into control, notably E. A. Rumely. He had a notion that the Rutnely products could be made to girdle the world. He persuaded New York banking bouses, William Salomon & Co., and Hallgarten & Co., that there was hardly a limit to the possibilities of Rumely service and the Rumely productl. Collapse Follows Expansion. , Also the banking houses appear to have taken a fancy to the idea that a great deal of money could be made in expending the capital of the Rumely company. The expansion followed qutokly and the collapse has been almost aa swift. There was Issued $10,000,000 of 7 per cent cumulative preferred and there was authorised $22,000,000 of common stook, of which $10,908,800 has been issued. Then the Rumely company began to grow. It sold part of Its product, accepting notes running

for three years, sold more of its product, borrowed more money to purchase raw . material, and eventually

found , it was getting money on six months' loans at the bank In order to finance three years' contracts. About four months ago more cash became necessary, and it was decided

to issue $12,000,000 of common stock to raise the funds. This idea did not take and the company, or rather the bankers, decided to issue $10,000,000 of 6 per cent notes, convertible into

the common stock at par. This con

version privilege was supposed to be

ent there is small inducement for the

holder of a 8 per cent note to accept

at 100 cents on the dollar a common stock at 25 cents. '' Bank Withhold Credit.

About this time, in order to raise

more money, the company sold $3,000,-

000 of its bills receivable. Still there was not money enough, and the banks

which bad been accustomed to lend

money to the company showed a dis position to withhold credit.

Then there was a reorganization in

the management. Dr. Rumely was re

moved from the treaaurershlp, the finance committee of five was reduced

to three, giving the two banking houses two of the members, while J. H

Guy was appointed a vice president in

charge of finances. Still the bankers were' not satisfied

The company needed $5,500,000 more,

and could only get it by wiping off the Rumely elate, leaving nothing but the

name. Meanwhile the stockholders

have seen the value of their invest ment shrink about $7,000,000,

Paul D. Cravath and Elleha Walker

have been in Chicago as representatives of William Salomon and Co.

Mr. Walker yesterday denied that the acquisition of Mr. Funk forecast a

consolidation of the Rumely Harves

ter company, or even a working agree

ment in accordance with the recent

dissolution of the harvester combina

tion.

CUT RECEIVER'S FEE

Court Opposes Princely Sal

aries For "Higher Ups." (National News Association) INDIANA POUS, May 7. -That the

paying of princely salaries to the men higher up and the paying of low wages

to the men who do the actual labor

does not set well with a court of jus

tice was the statement of Judge Carter in superior court today when be fixed the fee of Frank E. Smith, receiver for the property of the United States Motor company in Indiana at $7,500. Witnesses for the receiver testified that his fee should be from $15,000 to $21,000. Smith handled the Maxwell-Bris-coe factory at New Castle for three

months. Judge Collier also fixed the fee of W. L..' Taylor, attorney for the receiver, at $6,500.

PIES AT COVINGTON

Word was received here last evening -of the death of Hepry J. Gausepohl. An attorney-at-law, at Coving

ton, Kentucky. The deceased at one

time resided here. He is survived by

two brothers of this city, Frank and

Kdward Gausepohl.

HOW TO RESIST

PLAN AJNEXHIBITION Under Auspices of National

Organization.

(National News Association) WASHINGTON, May 7. Mineral

wealth and its conservation and the

protection of human life in mining op

erations are to be the burden of the

exhibition in the mines and minerals building a( the National Conservation

Exposition to be held during next Sep

tember and October at Knoxvllle, Tenn. How sulphuric acid is manu

factured as a bi-product of copper smelting, a mine tunnel fully equipped

and in actual operation, and the latest

equipment used by the United States

government in its mine rescue work are conspicuous among the exhibits planned and prepared for this department. The scope and purposes of the mines and mineral exhibit are outlined in the instructions just issued

to exhibitors by Dr. Charles H. Gor

don, associate state geologist of Tennessee, chairman of the mines and minerals department of the exposition. In general, these instructions call for

exhibits showing our natural wealth

in minerals and the means of best utilizing it. Exhibits of fuel resources

will show the location, thickness and

character of coal veins and devices for the manufacture of coke, brickets and other coal products. The nature, occurence and uses of the various minerals used in structural materials will be illustrated by collections of build

ing and ornamental stone, especially southern marbles and other materials,

and appropriate devices to show proper

utilization.

Under the classification of ores will

be shown . matallic and non-metallic

ores and minerals and the products and by products manufactured from them, the needless waste and destruction of manufactured metals by improper mining and excessive oxidation, electrolysis, etc., means of re-working iron and steel scrap and substitutes for iron. A mines section will comprise displays showing methods of mine operation, mining appliances and ma-' chinery, the nature and uses of mine explosives, and the prevention of mine accidents and other features touching upon the conservation of life and health of those engaged in the mining industry. The exhibit relating to mine safety will be under the direction of the United States bureau of mines. Supplementary to these exhibits will be general collections of minerals, rock, fossils, a relief model showing the locations and relations of important mineral districts, and illustrated lectures relating to the geologic history and mineral resources of the country. The plans for the exhibits in the department of minerals of the Knoxvllle Exposition have been prepared Jointly by the committee on mines and minerals, with headquarters at Knoxvllle, and the exposition's national advisory board at Washington, of which

Gifford Pinchot, ex-forester of the United States, is chairman, and Dr. Joseph A. Holmes, director of the United States bureau of mines, is the member representing mineral conservation.

MORRIS LED ASTRAY "Friend" Enticed Him From Narrow Path.

J. M. Morris of Fort Wayne, arrested yesterday for public intoxication, was ordered to Cincinnati tola morning by Mayor Zimmerman. Morris came to this city on the G. R. and I. railroad and was waiting here to change cars for Cincinnati. He told the old story in police court, of having met a friend and being led astray. He agreed to take the first train for Cincinnati. John R. Hoffman was fined $1 and costs for public intoxication In police court this morning. Claiming that his home was washed away by the flood at Dayton, Robert Ferguson, an aged man who was arrested for safekeeping, pleaded to Mayor Zimmerman not to send him to jail. The Mayor asked Ferguson if he would leave the city Ferguson started immediately to walk to Indianapolis where he says he has relatives.

High School Notes By Benton Barlow

High school exercises this morning were given by the seniors. The program was directed by Harold Myers. The senior orchestra of ten pieces was directed by Phillip Gates. The moBt Interesting thing on the program was the faculty meeting, be-

jing given by various seniors imitating i teachers in the school. The subject jof discussion was the changing of the interest system to a better basis, but jit could not be accomplished. After : much discussion, the orchestra played ''The Green Grass Grew All Around," i which was sung by Mr. Taylor, Mr. ! Myers and Mr. Barlow, the Keystone

Trio. Robert Taylor, accompanied by Miss Ruth Yoe, sang two beautiful numbers, and Wesley Howard gave several violin selections. Miss Margery Wiltrout recited a very amusing story. The program closed with a selction, by the orchestra.

FOR SALE Two porch awnings almost new. Inquire barber shop, 10 N. 9th st. 5-St

All the handcars of a large southern railroad are being equipped with gasoline motors. . '

FOR SALE A new $30 guaranteed bicycle, been used three weeks, in excellent condition, $20 cash. Address "Bicycle," care Palladium. 73t

WORTH WEIGHT IN GOLD Lady Learned About Cardui, The Woman's Tonic and is Now Enthusiastic in its Praise. Mount Pleasant, Tenn. "Cardui Is all you claim for it, and more," writes Mrs. M. E. Rail, of this place. "I was a great sufferer for 2 years and

was very weak, but I learned about Car

dui, and decided to try it Now I am in perfect health. "My daughter, when changing into

womanhood, got in very bad health. I gave her Cardui and now she enjoys good health. "Cardui is worth its weight in gold. I recommend it for young and old." Being composed exclusively of harmless vegetable ingredients, with a mild and gentle medicinal action, Cardui is the best medicine for weak, sick girls and women. It has no harsh, powerful, near-pois-onous action, like some of the strong minerals and drugs, but helps nature to perform a cure in a natural easy way. Try Cardui. N. B. WHtt to: Ladles Adv!- - -v Dept. Chatta.

i instructions, and 64-page booU. "l.ome TreatnflSB

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Strong, vigorous men and women

hardly ever catch cold; it's only when

the system is run down and vitality

low that colds and coughs get a foot

hold.

Now isn't it reasonable that the right way to cure a cough is to build

up your run down . condition again?

Mrs. Olivia Parham, of East Durham, N. C, says: "I took Vlnol for a

chronic cough, which had lasted two years, and the cough not only disap- , peared, but it built up my strength as well." The reason Vinol is so efficacious in such cases is because it contains in a delicious concentrated form all the medicinal curative elements of cod liver oil, with tonic, blood building iron added. Chronic coughs and colds yield to Vinol because it builds up the weakened, run-down eystem. You can get your money back any time if Vinol does not do all we say. Leo H. Fihe, druggist Richmond. Ind. P. S. For itching; burning skin try our Saxo Salve. We guarantee it. (Advertisement)

We Soil BIGE

Otxr EnSnifaiton of Domestic Rus Voted an Artistic Achievement Selection is the keynote of this exhibition of rugs, because careful choosing is the real factor in making the "Home Beautiful." You will find this a wonderfully complete collection of rugs typifying all the best artistic ideas of the day. You will find rugs here of the colors and combinations you want. You will like the patterns because they express the very highest order of designing ability. Every rug shown was chosen because it would harmonize with the surroundings of a well-furnished home and give the room a perfect, artistic balance. You will find deep toned effects and light delicate color combinations. Patterns range from Oriental designs to the very latest Frenchy Floral ideas. You have our word for the dependability of every rug. You can see the reasonableness of the prices for yourself if you will visit our carpet department. In the Annex.

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RICHMOND'S BARGAIN CENTER

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RICHMOND'S DEPARTMENT STORE

MXDSnEK "STOKE Mchmond's Economy Store TMnk Jmistt fior a Minute About this Word and just what it means Satisfaction is all you want or expect in-buying anything anywhere; if you are satisfied, that is all there is to it for you; the transaction is complete; you can't possibly get more unless you change your idea of satisfaction. Our intention and effort here is to see that you do not get less.

Men's Suits Satisfaction in Men's Suits at $4.98, $6.50, $7.50, $10.00 and $12.00. Satisfaction in Boys Suits at $1.98, $2.48, $2.98, $3.50 and $4.98. Satisfaction in Boys' Pants at 50c, 75c, 98c, and $1.25. Satisfaction in Men's Pants at 98c, $1.25, $1.50. $1.98. $2.50. $3.50 and $4.50. Satisfaction in Shoes for men and women at $1.50. $1.98, $2.50,$2.98, and $3.50.

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Satisfaction in Ladies Suits at $10.00, $12.00 and $15.00.

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Satisfaction in Ladies Coats at $1.98, $2.50, $3.50, $5.00, $7.50, $8.50, $10 and $12. .

Iffifiiery Satisfaction in Millinery. Ladies Hats at $ 1 .98, $2.50, $2.98, $3.50 and $4.50. Pry (Gocpdls ; Satisfaction in Dry Goods of all kinds Muslin,' Gingham, Dress Goods and Silks.

aumdl Satisfaction in Room-size Rugs at $9.50, $12.00, $13.50, $15.00. $16.50. $18.00, $20 and $22.50. Satisfaction in Carpet Ingrains at 35c, 40c, 50c and 60c oer yard.

dtilmai'wsiipo 'Satisfaction in Queensware and House Furnishings OUR MOTTO IS: SATISFACTION IN EVERYTHING

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