Richmond Palladium (Daily), Volume 46, Number 192, 23 June 1921 — Page 14
PAGE FOURTEEN
THE RICHMOND PALLADIUM AND SUN-TELEGRAM, RICHMOND, IND., THURSDAY, JUNE 23, 1921
PREBLE WILL DISCUSS CO-OPERATORS AT SESSION ON JULY 7 EATON, O, June 23. A meeting of members and officials interested in cooperative elevators in Preble county, will be held in Eaton, July 7, -when the question of bonding elevators and grain -warehouses will be discussed. This bonding -would make possible the Issuance of -warehouse receipts against the grain stored. These warehouse receipts are bankable security for loans, and banks accepting them as security can discount the loans with the Federal Reserve and make available for farm financing the resources of that institution which have been closed to agricultural loans except those made on mortgages. The program for the meeting, which will be an all day affair, beginning at ,30 o'clock in the morning, will include discussion of the qualifications and duties of elevator officials by the president of the New Paris Equity elevator, explanation of the United States warehouse act by Mr. Brady of the U. S. Bureau of Markets, financing of elevators, local elevators speculation and in the afternoon. A grading demonstration will be jriven in the afternoon by Mr. Hanger also of the university, and talks will be given on accounting and on the new proposals in the grain marketing f ystem.
AMERICANS REOPEN ARCTIC TRADE
, COMMANDS ii r 1 f -KEY- Uj - flC
Map, with key in lower left comer, shows territory entered by American expedition. Shaded portion shows section of Siberia leased by Americans. Points more than 500 miles up the Kolyma river of northern Siberia, which had not been visited by traders for four years, were reached last summer by a party of American traders, headed by Capt. S. K. Gudmundson, master of the trader schooner Polar Bear, according to word received at Juneau, Alaska. The Polar Bear left Nome, Alaska, June 27, iy20, sailed around the Siberian coast and East cape into the Arctic and arrived at the mouth of the Kolyma August 4. The schooner was worked up the river 120 miles and anchored while the traders took a small boat oOO miles farther up.
CHICAGO BOARD OF TRADE TO CLEAN HOUSE; COMMITTEES ARE CHOSEN TO AMEND RULES
By WILLIAM R. SANBORN. . And now the Chicago Board of Trade has promised to clean house. Four committees have been appointed to prepare amendments to the rules governing trading. All features that farm organizations have objected to, Bnd that the Illinois legislature has been making a fight on, are to be corrected or eliminated. That is the new program. The committees are instructed io be ready to make a repor within two weeks, and by mid-July it. is expected that the board will bo working on a revised basis. The proposed amendments will provide agains. manipulation of the market, cither upward or downward; against overtrading and all practices out of line with good business ethics. It is understood that all trading by individuals or corporations, tending to have an undue influence on prices is to be regulated. Many of the leading members are of the opinion that individual operations should not exceed one million bushels, unless against cash grain as a hedge. Indemnities to Go. Puts and calls, now known as "Indemnities" are to be abolished. Puis and calls were long since abolished, as such, but soon after that the "indemnity" deal came into play. Market news is to be more strictly censored and rigorous punishment will follow the sending out of misleading or false reports of any nature, tending to affect prices. Private Wire Houses. There may or may not be a change in regard to the use of private wires, which have long been a bone of contention. These wires cross the coun
try In all directions, and may be tapped at any small town where business warrants. In a former recommendation it was suggested that the use of these wires be confined to towns ot 25,000 and up. In the palmy days of the bucket shops, these concerns strung wires everywhere, so to speak, but bucket shops were abolished as being purely gambling institutions, as of course they were. Private wires play an important part in the dissemination of real news as to crops, markets, foreign demand, they give receipts of live sock to country correspondents and offices, and all that, thus doing a real service to interested parties in small towns.
But the private wire is an expen sive luxury; only wealthy firms and corporations can use them. They absorb much of the business which otherwise would be divided among smaller concerns, by mail and wire, and this fact has caused a lot of opposition on the floor. Admits Reform Needed. Enough has been said to show that abuses have crept into the Board of Trade system of doing business, also to show that its most important members admit this to be true. The fact, however, that it furnishes an ever open market, that it transacts business in grain at the lowest cost in history, is not to be denied by men who think. It is conceded, too, that every car of grain shipped to the board is paid for on the day of sale and that no shipper has lost a dollar through dishonesty of grain dealers on the floor within the memory of the oldest inhabitant. It is hard to guess what the actual closing down of the various exchanges
of the country might mean; what would happen to prices, or how quickly the graneries of the country would be congested. Cash Trade Would Go On. But such a condition is unthinkable. If all option trading were actually pro
hibited the sample tables, the brokers and the elevators would still remain.
A few big concerns would shortly con-1 trol prices, buy just when, and only , when they felt like it and at their own
uguiea. i Hi's seems io ue me natural conclusion, except that the cash "rings" in various cities might occasionally bid against each other for
supplies, according to milling and export demand. Farmers Make Lucky Escape In an editorial reference to the Lantz bills and the fight put up in the Illinois legislature, the Chicago
Tribune says: "The Lantz bills to restrict the operations of the Chicago board of trade are reported to have been killed at Springfield. Not only grain exchange members but all the business community will heave a sigh of relief at the news. Even the farmer may well give thanks. He has. in many cases against his own judgement, been saved a lot of money and more worry which would have resulted in an ef
fort to supplant the grain exchanges with a new marketing machine." No Monkeyina Keep Out
That thousands of country elevator
men and farmers will agree with the
Tribune's statement is proven by the
fact that hundreds of them, solid
train loads, visited Springfield to
champion the cause of the Chicago board. They came to try to stop the farm bureau folks from stampeding the legislature, many of them being also members of the bureau, most of
them in fact, but opposed to throwing a monkey wrench into the grain marketing machinery. So they served notice on the politicians to quit monkeying and to keep out. The Tribune sounds a note of warn
ing to the Chicago exchange as follows: "If the board of trade is wise it will use its new lease on life to correct any evils it has acknowledged. If it fails another and perhaps a more effective effort will be made to regulate it out of business. If the board will clean up incidental abuses, abol
ishing such practices as "puts and !
calls, for instance, and eliminating misuse of the private wire system, it may so increase its value and so eliminate arguments against it that anoth
er puch battle as that just won in
Springfield will never become necessary." Also Warns Stock Exchange "And by the same token, the governors of the New York stock exchange might do worse than take the board of trade's experience as a hint if not a warning. At this very time stocks are being manipulated by professionals in a manner injurious to credit conditions and without justification from the point of view of real values They need discipline." Congress has been under pressure to take action against the Chicago board: to regulate it first of all under new laws and to give the secretary of agriculture charge of its affairs in an administrative way. Nothing tangible has so far been effected in that direction, nor has the matter come to a vote.
"WHITE MOUNTAIN" REFRIGERATORS
Your Opportunity of a Life-Time
High-Grade TIRE!
and TUBES at Sacrifice Prices for 10 Days, Beginning Saturday, June 25 Ending July 4 We must raise cash at or.ee! Our loss is your gain! If you are goin to need Tires this year, buy them now. You are absolutely protected on every Tire. JUST THINK! 6,000-MILE FORD TIRES gQ 6,000-MILE FABRIC TIRES, 31x4 g QQ 10,000-MILE CORD TIRES. 32x3 V2 Q 9Q 10.000MILE CORD TIRES, 34x4 Sacrifice Prices on All Sizes CORD and FABRIC TIRES 30x314 GUARANTEED TUBES at 1.95 34x4 GUARANTEED TUBES at $2.S5 FREE ! To the first 25 purchasers the first day of the sale we will give free one 50c can Tube Patching with every purchase. FREE ! A Spark Plug free with every Tire purchased. FREE! A Spotlight free with every four Tires purchased. Be Sure to Come Early! Don't Miss This Wonderful Opportunity! Richmond
Lire service Corner 11th and Main GUARANTEED VULCANIZING
SIM i A. H
I StflMIiP 1 A??. -.WA I
'gtmSirfrnnH -- -'.IS andsome Tea Service j
A Tea Service of Life-time Quality, beautiful is design-having the appearance of Sterling Silver may be purchased here is SHEFFIELD PLATE. Sets of this kind are as appropriate for wedding gifts as for your own home. Oct line of Sheffield covers the whole range from substantial table silver to coffee end tea sets. It will . bo well worth , your while to CHARLES H. HANER investigate jeweler these Values. 810 Main St. Glass Fitted Do It today!
PIANO TUNING
Odd. Pest Office
Phone 1655
A1 Felt man's
$5-$6
White Kid Oxfords L One-Strap Effect In Cuban and Military Heels Feltman s Shoe Store
The World's Largest Shoe Dealers 35 Stores 724 Main St.
Pallad ium Want Ads Bring Results
THE ORIGINAL CUT-RATE
Real D
rug and Toilet Values
are to he had EVERY DAY at any of our seven stores. It will pay you to make Thistlethwaite's ycur first stop when shopping.
Facts Only
Truth Always ks
NJ&BUM'S Group of Voile, Organdie and Dotted Swiss
Sy SO
$ j Q75
Special group of Ladies' and Misses' CK A A Gingham Dresses for afternoon wear. . . t)DUU
25
Stores
i in Richmond 10 in . Indianapolis 4 in Terre Haute
Vincennes
2 m Middletown. O.
"If there were no Thistlethwaite Drug Stores there would be no CutRate Drugs."
Just Try Our Delicious ce Cream
PINTS QUARTS 25c 45c
Ice Cream Sodas and Sundaes. . . .
Ice Cream Cones 5c Malted Milk 20c With Egg.. 25c Milk Shake lie ith Ice Cream 150
WJM
SOAPS Woodbury's 21c Cuticura 23c Palm Olive, 3 for 25c Armour's Auditorium Bath Soap, 3 for 25c Ivory Soap 7c DRUGS $1.00 Tanlac 89c $1.10 S. S. IS 89c $1.00 Vinol 89c $1.20 Pinkham's Compound 89c $1.50 Xujol 98c 25c Nature's Remedy 19c 50c Nature's Remedv 43c
SPECIALS 60c Danderine 47c 60c Berry's Freckle Cream at 49c 30c Mum 23c
SCRAP TOBACCO 3 for 25c
MISCELLANEOUS 35c Barbafol 29c 35c Colgate's or Williams' Sharing Creams 29c Gillette Razor Blades. C's. . . .45c Ever-Ready Razor Blades... 35c Gem Razor Blades 45c $1.10 Nuxated Iron 81c $1.20 Caldwell's Syrup of Pepsin 89c
BAYER'S ASPIRIN 1- doz. tin 15c 2- doz. bottle 30c 100 in bottle 93c 25c Colgate Tooth Paste 21c 50c Pebeco 43 MALTED MILK Horlick's Malted Milk, $3.75 hospital size 0 1 A
POJLU
at
S1.00 size Horlick's at
89c
EVERTYTHING IS ALWAYS SOLD FOR LESS AT OUR STORES
Silk Tuxedo Sweaters Navy, White, Tan, Grey, Salmon, Q-J A Qf Buff, Tomato, Honey dew, Brown . tj) -LI:7Q
Lot of Plaid Skirts, $12.50 to $25.00 Half Price
Lot of Silk Taffeta and Poplin Skirts at
S1.98
Lee B. Nusbaum Co.
NUSBAUM BUILDING
Summer Toilet Goods For Home and Vacation U&e Sold at Our Stores for LESS
Cr '. Ill jLua 1 i 25c Mavis Talc 21c l I I: J i 60c Armand 43c j B J.q c I i l $1.00 Aruiand 89c if ' ' ? 3 jig Sila Cold Cream Powder 89c 11,11 " ( K&gW giSx Djer Kiss Talc 25c i - "'" If ru 60c Mulsified Cocoanut Oil 43c I j j j: . 1(1 I . Hess Witchhazel Cream 49c U TALCUM II t Ml Till! Hind's Honey and Almond Cream 47c III I !; " s Pg 'fl 1! POWDER ll I