Richmond Palladium (Daily), Volume 40, Number 229, 7 September 1915 — Page 3

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THE RICHMOND PALLADIUM AND SUN-TELEGRAM, TUESDAY. SEPT. 7, 1915

FEDERAL RESERVE ACT IS ATTACKED

DY TRUST COUNSEL

SEATTLE. Wssb Sept. 7. Henry

M. Campbell, of Detroit, declared to

day before the American Bankers association that congress had no power to confer ' trust powers on national

banks by the federal reserve act.

Mr. Campbell Is one of the counsel or the trust companies, which are Santestlng the constitutionality of (Section 11 (K) oT the act. Mr. Camp

bell, said that at the eleventh hour

the paragraph known as Section 11

(K) was added to the federal reserve act, and It confers upon the reserve

board over a multitude of Intimate do

mestic affairs which are wholly foreign to the national banking business

and have heretofore been regulated

exclusively by local, law. The para

graph gives the reserve board power

"to grant, by special permit to na

tional banks applying therefor, when not In contravention of state or local law, the right to act as trustee, execu

tor, administrator . or registrar of stocks and bonds, under such rules and regulations as the said board may

prescribe." Mr. Campbell declared ' that from the beginning of the government fiduciary trusts have been defined and regulted by local law, the administration of the estates has belonged exclusively to the state where the property of the deceased Is located, and the subjects upon which the inhabitants of a state may contract have been prescribed by state- authority. These state laws pertaining to these matters fill volumes and yet, by virtue of this brief paragraph of four lines, all these statutes may be set at naught and the federal reserve board, at its pleasure, may authorize such national banks as it may select to exercise all of these powers under such rules and regulations as it may prescribe, and the rules and regulations must prevail over any state law.

Gircus

HOW TO FIGHT LIQUOR.

Hagenbeck - Wallac 3

Brings 50 CIon ns to Richmond

: rni.TTMPITS InA Snt'TIVr .T T.

Bettger, of the Indiana State Normal tIoni "at certain policies will

school, advocates a new cure for the

liquor habit. Owing to the high tension under which Americans live, he says, liquor is used as a stimulant and to make them forget their cares. vHe suggests that employers give their employes frequent holidays, provide attractive parks and thus keep the workingman in good spirits. GIVES OLD COIN.

COLUMBUS. Ind., Sept. 7. A woman bought a bag of popcorn from F. R. Pearson and gave him a half

cent piece bearing the date of 1809 in payment. Pearson believes the

woman mistook the coin for a nickel

GAY YOUNG GIRL DENIES WEDDING

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TRIPS ON SCAFFOLD; MAN SAVES LIFE " A. E. Adams, formerly of this city, now bridge and carpenter foreman of the New York Centrai,' while at work at South Anderson, waa thrown off a scaffold at the coal shaft.- In his fall to the ground, 75 feet below, he grabbed hold of a timber and saved himself. : The accident was caused by a nail to which, his trousers became fastened, tripping him. Although he was badly bruised by the fall, Adams resumed work.

Bolton, Mass., in 1793.

has a - chapel built

: To The Public "I feel that I owe the manufacturers of Chamberlain's Colic, Cholera and Diarrhoea Remedy a word of gratitude," writes Mrs. T. K. . Witherall. Gowanda, N. Y. "When I began taking this medicine I was in great pain and feeling terribly sick, due to an attack

of summer complaint. After taking a

dose of it I had not long to wait for

relief as it' benefitted 'me almost im

mediately." . Obtlnable . everywhere.

Adv.' -

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Biliousness and Constipation.

It is certainly surprising that any woman will endure the miserable feel

ings caused by biliousness and constipation, when relief is so easily had and at so little expense- Mrs. Chas. Peck,

Gates, , N. Y., writes r "About a year ago I used two bottles of Chamberlain's Tablets and they cured me of

biliousness and constipation every where. Adv.

increased about $350 on account of

foot and mouth disease.

The expenses of the court house

and jail have been about normal for

the past year, with the exception of

roof repairs of each building which

caused the expenditure of several

hundred dollars, which had not been

included in last year's budget.

The expense of orphans in institu

tions is running much higher than formerly, owing to the Increase in

number of inmates. An investigation

into the causes of increase of this

item is now in progress,, with ' indica-

be

Miss Eugenia Kelly, daughter of the New York banker, and recently headliner in all the newspapers because of the suit brought by her mother to restrain the young lady from attending the Broadway dance palaces and squandering her fortune with professional dancers and cabaret artists, has proved herself a. real woman, by

changing her mind about marrying Al Davis, the professional dancer with

whom Miss Kelly frequented the

White Light resorts. On' Saturday, Miss Kelly who is staying with her

mother announced that she would

wed Davis, who has recently been divorced from his wife. On Sunday she

denied that she would marry him.

ALL OBLIGATIONS

Continued From Page One.

the purpose of constructing a bridge

over Whitewater, river in the city, of

Richmond. To, rate of levy for this

fund has been from 1 cent to 4 cents

on each $100 since it was created. The total amount that has accrued to this

fund is $82,648.91.

The following table shows the tax rate and accretions to this fund for

each year: Year. Rate. Amount Raised

1905 1906 1907 1908 1909 1910 1911 1912 1913 1914 1915

$ 5,79.61 11,744.64 12.840.58 6.438.41 3.179.10 3,218.25 3.264.72 13,548.56 13.644.92 7,064.18 1,935.94

.$82,648.91

Total

Health Expense Increased. Expense of health department has

changed and the expenditures

siderabiy reduced. County Poor Farm. The expenditures for the cost and maintenance and supplies at the poor farm show a considerable reduction over former years, while the receipts for products sold show a ' substantial increase. The total cost for maintenance and supplies for the first six months of 1915 was $5,045.29. The receipts for products sold during the same period were $2,532.52, which leaves a net cost for maintenance and supplies for the institution for this period of $2,512.77. The per capita

cost per week for eight years past is $3.32. There was an average of 52 Inmates in the institution during the first half of 1915, which, makes the per capita cost of $48.32 for the six month period, or $1.87 per week. In addition to the above listed expenditures there was expended $603.47 for repairs of. buildings and care of grounds, which are not charged to maintenance. Free Turnpike Fund. The free turnpikes of the county were transferred from the supervision

of the Board of County Commissioners to the County Superintendent of Highways in January, 1914. The following is a table showing miles of road, 'tax rate, funds raised, etc., for a period of five years:

fear. Miles. Tax. Amt. expended. 1910 175 3 $ 9,800.00 1911 180 3 8,866.55 1912 180 5 16,086.54 1913 240 5 16,632.95 1914 240 7 30,960.70 1915 315 9 33,075.00 Delinquent Taxes. The total amount of delinquent taxes on the treasurer's tax duplicates on January 1, 1913, was $39,064.44; on January 1, 1914, $55,933.17 f on January 1,1915, $63,068.50. The amount of delinquencies is steadily increasing as the records would show, while in reality it is gradually decreasing, and the county is loosing less from this source than formerly. The amount of delinquent taxes is increasing, primarily for two reasons: First, the tax rate has been raised in most of the taxing districts of Wayne county, which necessarily increases the amounts; Second, by a different method of bookkeeping, whereby all delinquent taxes are carried forward from year to year so long as the names of those delinquent appear on the duplicate instead of dropping the delinquent amounts at the end of the second year, as was the former custom, greatly facilitates the treasurer's work in collecting same. By this method the treasurer, by diligent efforts, is enabled to make a much larger collection of this class of taxes than in former years, as in

the rush of tax paying, all delinquencies are carried to the current duplicate in use, and there there Is no inconvenience in determining the. full

amount due by this method the col

leetion of delinquent taxes in Wayne

county have been increased from $10,

000 to $12,000 per year over former years, and thereby results in a saving to the county of this amount. It

looks worse on paper because the bad accounts are carried forward from

year to year. It is better, in fact, be

cause many of these so-called bad ac

counts are finally collected, instead of

being dropped and therefore lost to

the county.

The unfortunate thing about it, however, for the auditor is that the

county gets the money, the treasurer

gets his fee, and the auditor gets the

work. Assessment of 1915. The assessment of property in 1915, being the year in which real estate is assessed, shows a considerable gain. The assessment is as follows: Amount returned by local assessors $ 33,353,550 Amount returned by the state tax board ........ 4,045,299

Worth Their Weight In Gold.

"I have used Chamberlain's Tablets and found them to be just as represented, a quick relief for headache, dizzy spells and other symptoms de

noting a torpid liver and a disordered condition of the digestive organs. They are worth their weight in gold," writes Miss Clara A. Driggs, Elba, N. Y. Obtainable everywhere. Adv.

None Equal to , Chamberlain's. "I have tried most all of the cough cures and find that there la none that equal Chamberlain's Cough Remedy. It has never failed to give me prompt relief," writes W. V. Harner, Montpelier, Ind. When you have a cold give this remedy a trial and see for yourself what a splendid medicine it is. Obtainable everywhere. Adv.

The Hagenbeck-Wallace Circus Will Show Here Thursday, 8ept. 16.

One cent levy on assessment of 1915 will produce $3,365. The total amount of the budget in each fund, divided, by $3,365, equals the tax rate. With the present condition of the county's finances and with important public improvements in contemplation, this meeting of the council will

be the most important session held in years. .Respectfully submitted, L. S. BOWMAN, Auditor.

That ostriches once grew fifteen feet in height is shown by remains found in the Island of Madagasgar.

Bring in Your Old GoM J ewellry Have it made into new. We pay cash for eld gold. Jenkins & Co. "The Hall Mark Jewelry Store"

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Total assessment .....$ 37,398,849 Less 10 per cent deduction for non-collection ...... 3,739,884

Net amount on which to base levy ........$ 33,658,965

Net amount on which to

base estimates in 1914 . 32,292,197

Net increase over 1914 ..$ .1,366,768

CONDENSED STATEMENT OF CONDITION OF SECOND NATIONAL DANK At the Close of Business, September 2nd, 1915, as per call made by the United States Government.

Cash and Exchange . . $495,714.71 Loans 1,604,866.92 U. S. and Other Stocks and Bonds 742,676.33 Banking House 85,000.00

$2,928,257.96

DEPOSITS

... $2,015,839.66

Capital and Surplus . .......... 666,318.30 Circulation 246,100.00

$2,928,257.96

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