Richmond Palladium (Daily), Volume 46, Number 136, 19 April 1921 — Page 12

PAGE TWELVE

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, RICHMOND, IND., TUESDAY, APRIL 19, 1921.

UNCLE SAM IS BACK OF BONDED ELEVATOR; RECEIPTS NEGOTIABLE

By WILLIAM R. SANBORN. Whenever farmers discover the advantages offered by dealing and storing with elevators which are duly licensed by the government, it is nol unlikely that many will Insist on having farm elevators take out the necessary papers. The four commodities for which elevators and storage houses are licensed sre: Grain, cotton, tobacco and wool. Max seed is considered a "grain" and not classified as a seed, in this schedule, we are told. And it is because all of these can be graded and classified that they, are listed among articles for which negotiable warehouse receipts can be issued, upon which money may be borrowed from Federal Reserve banks, or upon which any banker may make loans suject to rediscount by his regional reserve bank. The advantage of holding such a receipt is apparent. It enables the holder to borrow according to the market value of his grain at the time the loan is made. He cannot borrow the full market price at any time, and should grain fall low enough to endanger its loan value, the borrower can put up a "margin" or the holder of the receipt can market the grain, if he desires, returning the surplus over the face of the loan and interest to the borrower. Such proceedure is

seldom likely to occur. An Inspector Visits Wayne. A government licensed warehouse inspector has been looking over the grain storage facilities of the Richmond district during the past few days, both in Wayne and adjoining counties. At this writing there are no such warehouses in this section of Indiana. There are. however, four or five licensed fiourmill elevators in the state, and from fifteen to twenty licenser mills and elevators in Ohio. The Ohio farm bureau bas opened the co-operative marketing ball by the lease of a large terminal elevator at Cleveland, into which the surplus stocks of the little co-operative elevators may be dumped while awaiting a time which owners' of the grain may consider opportune for selling. How the Plan Works. In a conversation with the inspector we were informed that any individual farmer can ship his grain to any licensed elevator at any point desired, have it graded and the receipt mailed him. He can further mail that receipt to said warehouse or elevator and have his product sold, according to his instructions. If a loan has been made on the commodity the receipt will show that, as it will then be held by his banker, with whom he can arrange for such sale. ' Now it is very probable that his grain, tobacco or wool will have already been sold. But his receipt calls for so much of that certain grade and there is a sufficient supply invariably on hand, duly insured for full va!ue, to cover his wants. The government sees to that through regulations and incpection. for the warehouseman must notify the Federal Reserve of receipts issued and quantities shipped, and must show cancelled receipts to balance stocks received, sold and shipped, and also outstanding receipts.

This measure has been in effect since war days, say for past three or four years, possibly. It was designed primarily to help the farmer, but the stress of war activities prevented the completion of the work for a long time, though there are now elevators in the corn belt which put this system into effect about a year ago, as this inspector stated. Now that farmers are asking legislative action, and because the farmer needs help in his marketing the government is taking steps as above. Where the receipt is not encumbered with a loan it can be mailed, to any broker in any market selected, for the sale of the quantity and kind of grain called for. and to whom that quantity can be shipped. Will Help Farmers. This plan of dealing with licensed warehouses will permit large growers of grain, for instance, to ship direct to terminal points and to receive negotiable and transferable paper for car lots. The small grower will be accommodated at home and retain all the advantages the plan offers. This marketing plan is likely to meet with favor, in a general way, and should prove helpful to co-operative marketers. Such warehouses must be bonded to cover capacity, or to cover special bonded bins and ware rooms. The government license and inspection fee is but $7 per year for elevators having a capacity of 5,000 bushels of grain and up to 100.000

bushels, with an annual charge of $1 for renewal. Both Individuals and partnerships, also corporations, are eligible for license, as we are informed. Farm federation co-operative plants come under above ruling. The license and the bond are separate propositions. The latter costs according to the amount involved. -

MIDDLEBORO HEARS WIRELESS WEDNESDAY

MIDDLEBORO, Ind., April 19. Arrangements have been completed by the Ladies' Aid of the Middleboro church for the entertainment, featuring a demonstration of the Palladium wireless telephone, which will be given in the Middleboro church building Wednesday night, beginning at 8:00 o'clock. The wireless, or radiophone, program will consist of music from a New Edison phonograph, Including sacred or old favorite folk songs. Instrumental music, and a short talk.

URGE VOTERS

(Continued from Page One) proper and desirable amendment for this reason: the law calling for the

special election Sept. 6 says in effect 1 dJ?tr1iJ:t . evttnr

that any amendment to be adopted must receive a number of affirmative votes greater than the number of negative votes and also that the number of affirmative votes must equal a majority of the entire number of votes cast in the election. It is easily seen that if a great number of votes is cast for one amendment and a considerably smaller vote is cast for the other amendments, the other amendments might fail not because they did not receive a number of affirmative votes greater than the number of negative votes, but because the number of affirmative votes did not equal a majority of all of the votes cast for the amendment which received the greatest nu;nber of votes. Taxation Interests Thi3 matter is important because even now there are indications that the greatest interest is being taken in two of the amendments, those relating to taxation. But this great interest in the taxation amendments might easily result in the defeat of other amendments. It may be of interest to note that the special election will be conducted in about the same manner of other elections except that the regulations in regard to registration of voters may be disregarded. Each voting place will have an election board appointed in the usual manner and the voting will be on white paper ballots. The amendments will be printed on the ballots and the actual voting will require merely the marking of a cross in the square opposite the word "Yes" or the word "No". An impression has gone out that those who are responsible for calling a state-wide conference on the amendments are in reality opposed to the constitutional changes proposed. This impression arises probably because the movement was started by the Tax

payers' league of Indianapolis, which j is made up of rather extensive prop-1

erty owners. In the legislative ses-

j sion the two proposed tax amendments

were opposed by a number of Indianapolis business men. However the conference plans now seem to be in

j the hands of the governor and it is very well understood that he Is In no way prejudiced against any of the j amendments. In fact he is strongly I for most if not all of them.

Income Tax Possible. On? of the amendments on taxation would make possible the levying of an income tax and the other would authorize the legislature to establish a system of taxation for the state. The second named amendment is the more important because if it is adopted it will be in the power of the legislature to provide for an income tax. The chief advantage to be gained from the adoption of the important taxation amendment will be the possibility of providing for the classification of property for taxation. It would make possible for example the placing of a lower rate of taxation

on mttngible securities, and this it i

is argued by some would bring many of the intangibles from their hiding places. The chief argument against the taxation amendment is that it will again cause an upheaval in the taxation system of the state and that with

the legislaure continually "monkeying! with" and making changes In the tax system, business men will never know ! exactly where they are. The business i

disturbance and dissatisaction that attended the early operation of the tax law enacted by the Goodrich adminis

tration is cited as an example of what may happen. Changes Selection. Another emendment provides that the office of state superintendent of public instruction shall be appointive instead of elective as at present. In favor of this amendment it is pointed out that the state superintendent should be an expert in his line and that , past experience in many states has shown the futility of attempting to choose experts by the popular vote route. The theory that an expert in any line cannot be chosen in a satisfactory way by popular vote is indeed one of the main arguments for the city manager form of city government. The equal suffrage amendment not only constitutionally clinches the right of suffrage now held by women under the federal amendment, but it also would limit the franchise to citizens of the United States. Under the constitution as it stands now an alien may vote if he has declared his intention of becoming a citizen. It is hardly likely that there will be any argument over the advisability of this proposed amendment. Classification Changed. Classification of territory for voters registration is the subject matter of another amendment and under this proposal it would be possible to require registration in some units while omitting it in others. The ground for this proposal is easily understood. It is realized that in the crowded city

possible safeguard

should be thrown around the ballot

and that there can hardly be too much

The. purpose of this is to avoid (he political jockeying thst is so'metimes caried on in the legislature through an appropriation bill. John Jones- accommodates William Smith by getting into the bill an apporpriation desired by Smith and Smith returns the favor by getting into the Bill an appropriation desired by Jones. As a result sometimes in the past when an appropriation bill has reached the governor it has contained a number of obviously needless appropriations. But in many instances the bill has gone to the governor late In the session and unless he was willing to stand the expense of an immediate extra session for the purpose of' putting another bill through he could not veto the measure

because in so doing he not only would J

kill useless appropriations but would knock out many essential appropriations. In the last session Governor McCray avoided any such situation as this by

Insisting that the legislature complete I

Its deliberations over the appropria

tion bill early in the session. Since Governor McCray has started this custom and since a budget law was enacted by the last session the importance of the proposed constitutional amendment in this instance is not so great. Affects County Officers. Another amendment would make the terms of all county officers and all ttate officers except judges four years. At present some of the terms are of two years duration. There is no valid argument against this proposal.

An important amendment is the one

checking and re-checking by means of that provides that neither the term of the registration system. Such care office nor the salary of any officer however is not necessary in the rural elected under the constitution or by districts where about every voter law shall be increased during the term knows every other voter in the pre- for which such officer was elected or cinct. It is believed that by the adoi- appointed. There is a real need for tion of this amendment much money this constitutional change because it would be saved and much inconven- would put an end to a lot of salary ience that is now encountered would grab lobbying that goes on at every be avoided. j session of the legislature. Had it not Another amendment provides that been that Governor McGray insisted legislative apportionment shall be on economy it is nrobsble that the last

made on the basis of the vote for secretary of stale at the last preceding election instead of on the basis of a sexennial census. It would seem that the number of votes cast for the candidate for secretary of slate would be a fair basis. , Avoids Political Jockeying. In another amendment propos3d power would be given the governor to veto any item of an appropriation bill.

legislature would have put through a law increasing the salaries of county commissioners all over Indiana. Another amendment with which the reopie are fairly familiar would authorize the legislature to enact a law providing for qualifications for persons admitted to the practice of Jaw. There can be no argument against this amendment The best argument in favor or it is the trouble that reputable lawyers and bar associations in every city have with unscrupulous members of the .profession members who do not hesitate to swindle an orphan or a widow if they can make money out of the deal. Admittance of colored troops into the state militia would be made possible by the adoption of another one or the amendments. There are 13 of the amendments. In the description above it appears there are only 1 1 but this is due to the fact

that providing tor four year terms for ftate and county officers requires

inree amenaments. It may be that some Of the amenri-

ments listed are not of such great im

portance Dut it should be borne in mind as previously suggested that action on these amendments mav

head off a constitutional convention.

ACQUIT GRANT HUNT ON ASSAULT CHARGE Grant Hunt, charged with assault and battery with intent to kill on Herbert Green, owner of a livery stable on North Eighth street, was found not guilty by a jury in Wayne circuit court after deliberating one hour and 30 minutes. Evidence and arguments in the case were completed Monday afternoon. Judge Bond instructed the jury Tuesday morning and the jury retired at 10 a. m. A verdict was returned at 11:30 a. m. Instructions to the jury explained the law governing self defense, and landlord and tenant. These two forms

HEAR

of defense were advanced by Hunt it his defense.

KeepYourSkin-Pores Active and Healthy

With Cuhcura Soa

9 M.OiBtiifwt.Tli. !.'

Tmrm

CUT THIS OUT ITS WORTH MOXBY ' Cut out this slip, enclose with 6c and ! mail It to Foley & Co.. 283S Sheffield ' Ave.. Chicago. 111., writing: your name ! and address clearly. You will receive In return a trial package containing roleys Honey and Tar Compound for' coughs, colds and croup; Foley Kidney Pills for pains In sides and back: rheumatism backache, kldnev and bladder ailments; and Foley Cathartic Tablets a wholesome and thoroughly cleansing cathartic for constipation, biliousness, headaches, and sluggish bowels A. G. Luken & Co.. 626-SK Main. Advertisement. :

0-

MAMIE SMITH

SING

"THE CRAZY BLUES

Saturday Night, April 23rd at the COLISEUM Seat sale opens at Weisbrod's Tomorrow Morning Prices 55c, 85c $1.10, $1.65 Including War Tax

OUR SPRING presentation of color, style and quality merits your discriminating approval. Never before have we been so anxious for you to inspect our clothes. Suits, Topcoats $35 up The Dennis-Coyle Company Tailors and Shirtmakers 5 N. 10th St. In the Westcott

Constipation Vanishes Forever Prompt Permanent Relief CARTER'S LITTLE LIVER FILLS

never xau. rureiy vegetable act surely but S

gran

E INDIGESTION ta bw granular form. clry oa ton sue, or with victiy or water, hot or cnl, prmfarably hot. QUICK RELIEF! Price, 25-50-751

ALSO IN TABLET TOWM

MADS BY SCOTT St BOWNK MAKERS OF

SCOTT 5 EMULSION is

CARTER'S

lVER

liver.

Stop after dinner dis-, tress correct indigestion; improve

the complexion brighten the eyes. Small Pill Small Dose SmaO Pric

Guaranteed Electric IRONS :: 3.98

TMstlethwaite's The Original Cut-Rate EVERY-DAY PRICES In Effect at All 7 Stores Pinkham's Coni- OQ pound Oiv Colgate's Tooth OTT Paste ilt Woodbury 's Ol Soap JLl ALL SCRAP TOBACCO, Or 3 for t)t,

let lour Taste Decide ! In this way you may verify the claim for Post Toasties to SUPERIORITY among corn flakes Ohese substantial flakes are made of selected white corn, skilfully cooked, rolled and toasted to a delicious crispness. Their substantial texture prevents crumbling in the package and they dorit mush down

when cream or milk is added.

Ready to Serve Economical Made by Postnm Cereal Company Lac Sattle Creek, Michigan.

At Feltman's

Ladies' Smart Footwear The wonderful new styles in Ladies' Shoes are impressing those who have seen them with visible elation. Remember that Feltman's Footwear at $5 and $6 is the same, identical quality that other stores are asking $10 and $12 for. Investigation will convince you.

Black Satin One-Strap, with white stitched seams, high arched. Popularly priced at

$600

Feltman's Shoe Store.

The World's Largest Shoe Dealers 5 Stores 724 Main Street

Rare Values in Bracelet Watches FOR years we harem specialized in watches of dependable worth and beauty of design. Qpr watch stock is famous for its excellent assortments and reasonable prices. Jnst now the better grades are in demand. Watches hare not increased much in price but the better kinds are wanted. To meet this demand we have stocked a line that is beautiful to behold. No one need be disappointed we hare them at all prices within the limits of dependable quality. CHARLES H. HANER Jeweler 810 Main St. Glasses Fitted

re

FACTS ONLY

TRUTH ALWAYS

Sale of Girl's Dresses

Fine Gingham Crepes

M9g

and

222

Introducing and at the same time emphasizing the importance of this new addition to our department of Children's Wear The New "Wirthmor" Dresses for Girls

The simple announcement that this store has something new and different in the way of dresses for girls of 7 to 11 years Is sure to interest mothers of such maids, and it is safe to predict that these selfsame mothers are coming, at the first convenient moment to view these newcomers.

feJk, sJ M Sf

tOAJ

Mothers with girls to clothe are unerring judges of q u a li t y in children's wear; they consider well the modiohness of the little frock, the exc e 1 1 e n c e of materials, the stitching, the colors, patterns, and are critical, as is their right, when examining button holes, seams, hems, and the details of finish and trimming.

These new "Wirthmor" Dresses are going to pass "with flying colors" the most careful scrutiny of the most exacting mother. She is going to pronounce them "O. K." Made of the loveliest, cheeriest ginghams and other desirable tub fabrics, in colorings and patterns that are the newest. Each garment is protected by a guarantee that insures the durability of the fabric, the fastness of color and the all 'round satisfaction in her purchase that any mother, who invests in a pretty frock for her daughter, has a right to expect.

We want you, if you're the mother of a young daughter, to come and see these attractive, new dresses. We want to tell you more about them than we can in this space. We want you to compare them with any dresses that yon have seen. If you do this, we are sure that you will share in our enthusiasm and genuine delight in securing the representation of this new line. From now on there will be six entirely new models at $2.98 to show you each month and four new models that will sell at $1.98.

Special Showing of Girl's Hats (2nd Floor, Millinery Dept.) New Styles in Straws $1.50 $1.98 , $2.98

Daily Bulletin

A PRIL

Attraction Black Taffeta $11 59

-Li- Yard

Extra Fine Quality, Pure Dye, Yard Wide

LEE B. NUSBAUM COMPANY

NUSBAUM BUILDING