Richmond Palladium (Daily), Volume 92, Number 142, 15 June 1922 — Page 2

PAGE TWO f

THE RICHMOND PALLADIUM AND SUN-TELEGRAM, RICHMOND, IND THURSDAY, JUNE 15, 1922.

TO ENLARGE ASS'll V OF TRANSFER-MEN

ENTERTAIN GUESTS

Kecent improvements on. city streets

and crossings were Indications of the

successful efforts of the Eastern la-

Mlana Transfer association of Richmond. It was declared at a Joint meet

ing of the association with out-of-town members at the Red Men's hall Wed

nesday night.

' Twelve out-of-town members of local transfer associations were present and their problems were given de

tailed discussion and, their questions I answered. E. M. Rinker of the Muncie association, gave the status of that branch In a brief talk. He stated that, although they had encountered some opposition while organising the Muncie branch, the opposition has now been changed to enthusiasm in favor of the work of the transfer association. Frank Jerome, also of the Muncie branch, expressed sincere appreciation to the. Richmond" association for their co-operation in the organization work at Muncie. He also stated that the outlook for the Muncie organization was especially bright at the present time.

: Ora Monger, secretary of the local transfer association gave suggestions to the other out-of-town members who are still working on organization and

membership. He laid especial stress on the social side of the organization; work. 1 E. G. Charm an, corresponding secretary of the Richmond branch, read several" newspaper and magazine clip- ; (Pings which wero of particular interest to transfer men, and outlined the importance of cost accounting for truck operation. He stated that this . branch of the transfer man's business is, in moat cases, sadly1 neglected and is of the utmost importance to the operator. To Widen Scope. ; It was decided by the members of

the association as a part of 'the program of organization and expansion to make the name. Eastern Indiana

Transfer association, broad enough' to include the other branches In" eastern Indiana. Heretofore, the name applied to only the Richmond group, which will be known in the futureas the Eastern Indiana Transfer association of Richmond. The large comprehensive organization probably will Include, when completed, . Richmond, Muncie, Newcastle, Anderson, Elwood, Hagerstown, Cambridge City and Centerville. Another action of the Richmond association was to make all firms in the city operating trucks eligible to membership in the association as associate

members. A drive will soon be started to swell the membership of the local branch which will include many firms which , are anxjoua to receive membership. The register of out-of-town guests here for the-meeting Wednesday night bears the following names; Harvy M. Flory and W. C. Marker of Eaton Ohio; A. J. Mitchell and H. W. Will of New Madison, Ohio; W. S Hardesty, F. H. Jeromo,. Neal Jerome, Fred Hutchings, F. S. Rep.der, E. M. Rinker, Kenneth Hutchings and BurL Hardesty of Muncie. After the business session of the association a banquet was enjoyed at a local restaurant. There were 52 transfer men present at. the. meeting.

Percent Soft lOOr 1

UNIONS

Ovll4't2 ?B -14 I9IS '16 171 18 A9'202

: - : : - IOC t ; -- 80 -- - 4- 6C 60 iwixir r I -3 PERCENT V - 40 10 - 20 o I i -J 1 1 1 I I I 11 la

BASED ON WAQE SCALE DATA COLLECTED BY DEPARTMENT OF LABOR. COPYRIQHT 1922 BY SCIENCE SERVKE, WASHINGTON. P.C

Refunding Government Bonds By FREDERIC J. HASKIN

Hot Weather Breeds Chinch Bags, Entomologist Says INDIANAPOLIS. " June 15. With hot, dry weather the chinch bugs have begun their yearly forages in Indiana,

according to Harry Dietz, assistant

state entomologist.

The hot, dry weather favors the

propagation of these bugs, Dietz said,

As long as the weather It wet moulds

destroy their eggs. In 16 counties in the state, he said, they have became a menace to crops. These counties are: Allen, Blackford, Delaware, Franklin, Jay, Greene, Hancock, Henry, Marion, Miami. Posey Randolph Stuben Sullivan, Wayno and Wells. . : .

"Although this pest was present last year In large numbers over about onefourth of the area of the state, the injury it did was not in proportion to the number of Insects," he said, "The loss caused In the last three years

was not over two million dollars."

But, he said, the numbers of these

Insects are increasing yearly.. ,

WASHINGTON, D. C. June 15. The next twelve months will bring the United States treasury the most difficult financing Job It has yet had to handle. In that brief period the treasury must fund approximately $5,000.-

000,000 in Indebtedness. In other words, the United States government must pay the equivalent of $50 to every man, woman and child in the United. States. " This Is - the government's biggest

.financing job for. the reason that the

nation is at peace and the war patriotism which stimulated the Liberty loan drives betweenl917 and 1919 Is absent. The financing must be done in a cool business way. There will be no brass bands, no flaming Liberty loan posters and no groups of volunteer workers to

help handle the problem. It must be done by a handful of hard-working officials and clerks in the treasury

department

Slightly more than half of the vast sum is needed to pay outstanding notes of the Victory Liberty Loan. It will be recalled that this, the last of the big war loans, was a short term loan of but four years and that the four years will be up next May. Be

fore that time, the treasury must also

meet Treasury Certificates of Indebtedness and;-War Savings Certificates to an amount which will make up a total of approximately five billion dollars. - The task will be accomplished, not by paying off the whole amount in fact but by a shifting of credits and creditors, A substantial portion will be paid off outright but some of this indebtedness will be met with new borrowings, in many cases from the same persons. -Thus, a man holds $10,000 in Victory notes This year the treasury will pay him in ca3h or will give him new notes or bonds for an equal

amount. He may take part payment

in cash and part in new bonds. The

same method will be pursued in retiring the whole $5,000,000,000 to be paid in the next year. If all or a large por

tion of the present holders of the maturing securities want cash, then other .purchasers must be found for the new ' securities ' In order to provide the money to redeem the old ones. ' But even considering that the treasury will borrow some new money to pay this huge debt, the transaction is fn effect the same. A total debt of

$5,000,000,000 must be met in one way or another. "

The problem Is especially delicate

Just now because the government cannot afford to pay so high a rate of in

terest as It did during the war. It

must Induce holders of securities

which now pay 4 per cent or more' to accept new securities paying only 4 per cent or 4hi per cent. If the treasury begins bidding frantically for funds, the interest rate will ri3e and

taxes will have to be raised to meet the high interest charges. Therefore, the financing must be done smoothly and over as long a series of months as possible so as to create the least possible disturbance , In the money market. Business Demands Capital Another Important fact is that the country is on the edge of a boom. Industries are reviving their activities and this brings a demand for new

money. Private industries usually are willing to pay higher Interest rates than the government cares to pay and therefore there will be a tendency for these private companies to bid the money away from . , the . government. There 13 no war pressure now to brine

to bear on the citizen to Induce him to forego private profits and put his money . In government bonds. The treasury mnf go into the money market as a trader and make ,the hest deal It can.. A review of the public financing, sit

uation shows that much progress has been made -since the armistice in paring down the public debt. The peak of

me aeDt was reached on August 31 1919, when it stood at $26,596,000,000

which is equivalent to $265 for every

man, woman and: child in the United

States. On March 31. 1922. the last

date on which a government financial statement was issued, the debt stood at $23,145,000,000 or $3,451,000,000 less than the peak. That means that every person in the United States has paid off $34 of his Indebtedness incurred on account of the. war,. Everyone still owes $231. - - Many parsons who owned Liberty bonds have felt some resentment against the government in the last two years because of the depreciated market value of these securities. Attacks

have been made "on the treasrv. it

being claimed that it was unfair for

the government toeell bonds to the public and permit them to depreciate In value. A more careful, examination of the merits of the situation will rereal that 'this "complaint Ts hot wellj founded. ' ' " WJiyBcmd. Depreciated In s bargain..mado hetween the government and the bond-buyera bargain which was made to win the wax the bond-buyer and not the government is the one who has broken the contract The government said: "Lend me $100 for 10 years." If the government pays back that $100 at the end of the 10 years its part of the bargain has not been broken. And in addition, It has paid interest regularly. But In many cases, the bond-buyer has said: "I want my money back. I didn't really mean you could keep it for 10 years whether there was a war or not ". So this bond-buyer has Bold his bond. Many did this, which as a matter of course resulted in a lower price in the

open market for the bonds. The mar

ket price has nothing to do with the original bargain between the government and the bond-buyer. 1

Despite the fact that the prices of

some issues sagged because the holders asked for their money back, bond prices are all on the up-grade and will continue so until all have reached a price above par that is, above the face value. People will pay a premium

for the privilege of being a creditor

of the government and receiving the Interest which is paid. , The lowest point reached on the war loan was a price of 81.40 for the

Fourth Liberty Loan on May 20, 1920. The highest price so far was paid on August 27, 1918102.50 for the First Liberty Loan. Since the armistice all Issues have been below par and some

of the issues more than 15 points be

low but now half of the Issues ar;e at 100 or above and all are within two

or three points of par. The recovery

has been extremely rapid and is re

garded as an Indication of the sound condition of the United States treasury and the general prosperty of the

country. The treasury has benefited to some extent by the breaking of the bargain by the bondholders who sold their bonds. It has bought back bonds at

prices below their face. Thus, under the sinking fund provisions of the law, the treasury had purchased up to the date of the last report of the secretary of the treasury bonds of a face value of $154,530,900 at a market cost of but

$146,989,976.- Under a special bond repurchase provision, additional pur-

cnases nave Deen maae or Donas to a

face value of . $70,375,300 at a market

cast of $69,378,257.

In comparison with wealth and population, the, American treasury is in

far better condition than that of any

nation in the world and while the

treasury will have to be skilful in handling the $5,000,000,000 financing Job of the next 12 months, there is no

doubt that the work will be complished.

DECLARES EGYPTIAN

PHYSICIANS PURSUED SCIENTIFIC THEORIES

(By Associated Prais)

CHICAGO,. June 15. Egyptian physicians in the days of the Hebrew pa

triarchs knew that the heart Is the center of a system throughout which its pulsations are felt. Besides muttering Incantations, they performed operations, . made diagnoses, catalogued cases and verdicts, and pursued investigations in a scientific spirit, according to a study of the Edwin Smith Papyrus made Prof. J. H. Breaster of tho University of Chicago, Prof. Breasted will discuss the papyrus at the Champolllon Centenary at Paris on July 12, and his paper will be published in one of two volumes, one containing articles by Bcholar3 ot France, the second, articles by schol

ars or other countries, wmcn are tv

be prepared In honor of Champolllon. In a preliminary account of les3 technical nature appearing in the quarterly bulletin -of -the New York Historical Society, which owns the papyrus, Prof. Breasted declared that the ancient document lay in a coffin

for "some three and a half iruueniums". Pointing out that it was discovered by an American, Edwin Smith, the Chicago orientalist asserted that

it contained "incomparably the most: important body of medical knowledge which has survived to us from the ancient Orient anywhere." He explained that whereas the other known ancient Egyptian medical documents were "hodgepodes of recipes dominated by magic," part of the Smith Papyrus contained a systematic or-

ganization and discussion of( cases.

A tree which stood 300 feet high

and from which seven thirty-two foot logs were cut below the branches, was recently felled at Kapowsin,

Wash.

Wayne Threshermen Will Meet Saturday In accordance with a call Issued by the county secretary, Arthur McMahan of Centervllle, the Wayne county Threshermen'B association will meet In the county agent's office in the courthouse Saturday afternoon. Discussion of threshing rates for tho coming season will be one matter to oc

cupy the assembly.

tor. It is reported that continuation of the Sunday night services depends upon tho attendance at the Thursday

knight services.

" A reception for new members will be held at the church Friday .night. Special guests of the reception will be- prospective members. A. program is being arranged for the occasion. Refreshments will be served. Three-

minute speeches will be made by several members.

Rev. Sarkiss to Preach

On Golden Rale Tonight "The Golden Rule Vs. the Rule of Gold," is the subject announced by the Rev. H. J. Sarkiss, pastor of the Second Presbyterian church,- for his preaching services Thursday night. Singing from the Sunday school song boo&s is also announced. Services are to be held each Thursdaytolght with preaching by the pas-

Yellowstone National Park Scenic Colorado Personally escorted DeLuxe Tour. Bee the Wonderland of America. Everything first class; meals, side trips, Included In expenses, as per Itinerary. Summer travels heavy. Make reservations now.

t mi lniccrnation on request. Mr. and

.-urn. v,. o. i-.ice, u jii. zzna, indianap oils, Ind.

Wedding S2ver

See our big line of Wedding Silver ' before buying. Also get our prices.

0. E. Dickinson 523 Main St.

e ACHING AMD

f$ JSURNINI

A: - ODOROUS B ft-AT CO 1 Jj - , I SWIATINS 60FT CORN' V", J- 40E BUMlON ENDS FOOT MISERY !

ac-

GOOD HELP IN 51'MMF.R

Indigestion, causes worry,- nervousness, sick headaches, bUliousness, coat

ed tongue, taa breath, bloating, gas, constipation and constant distress. Henry C. Thorne, 1002 Harrison Ave..

eosuon, aiass., writes: "Since taking Foley Cathartic Tahlta T f f(ni?'

They, cleanse the bowels, sweeten the stomach and invigorate the liver.

Cause no pain, no' nausea. Not habit forming Just a ssood, wholesome physic. A. G. Luken Drug Co., 62S-628

mam ot. ao verti semen t.

"SILENT. PARADE" PROTEST AGAINST NEGRO LYNCHINGS WASHINGTON, June. 15. A, "silent parade" was staged yesterday by the negro population ot Washington as a protest against continued lynchings of members of their race and in an effort to influence, early action by congress upon the Dyer anti-lynchlng bill now before the Benate Judiciary committee.

Speeding Up for 'TOO MUCH BUSINESS'

Nearly ' 200 alphabets, ancient and modern, are known, of which fifty aro -now in use. '

Stops Itching

Peterson s Ointment To the millions of grateful sufferers who know about the ' mighty healing power of Peterson's Ointment for old sores, ulcers, piles, sore feet and chafing, Peterson says, "Use it for skin and scalp itch; it never disappoints." 35c, 60c, $1.00, $2.50, $5.00. Advertisement. - -

Cal-o-cide positively gives quick relief and lasting results. It penetrates the pores and removes the cause. (Plasters in each package for Stubborn Corns)

I nm Ctbdda Paokaa SoU - AH Drat&a SB

OUR BREAD and other baked goods are uniformly baked, and they assure you goodness with every bite.

Friday Special

SUGAR COOKIES, per dozen

10c

New System Bakery 913 Main St.

pi.

Take a KODAK With You

Your Druggist Is More than a Merchant

Try the Drug Store First

DRUGS! DRUGS! $1.10 S. S. S.... 89c $1.90 S. S. S $1-59 Vinol 89c Miles' Nervine 89c Pinkham's Compound 89c Wine of Cardui 89s Caldwell's Pepsin , 89c Pierce Fav. Prescription ....98c $1.50 Fellows Hypophos...$1.27 Wampole Cod Liver Oil 89c 60c Swamp Root 49c $1.20 Swamp Root 98c $1.50 Marshroot $1.39 $1.25 Mother's Friend $1.09 30c. Sal Hepatica 24c 60c Sal Hepatica ...49c $1.25 Sal Hepatica 98c $1.20 Nujol 98c 60c Epeonade Salts 49c 60c Phillips' Milk oJ Magnesia .....47c 30c Capudlne 24c Bromo Seltzer 24c, 49c, 98c Listerine 24c, 49c, 98c Beef Wine and Iron full pt. 98c COMPLEXION POWDERS Mary Garden -98c Azurea '...$1.09 Djer-Kiss , .............50c Three Flowers ..,.690

Armand Bouquet 50c Armand Cold Cream $1.00 .Mavis 43c Woodbury's 24c Freeman's 39c Ppmpeiian 49c Melbatine ...24c Love Me 63c Melba T 47c Satin Skin ....29c TALCUMS J. and J. Baby.... ...19c Mennen's Borated Zko Armand 25c Florient 25c Day Dream 24c Mavis 19s Djer-Kiss 25c Cashmere Bouquet 19c SHAMPOOS Wild Root 49c Palm Olive 45c Q-Ban 49c Mulsified Cocoanut Oil 43c Packer's Tar ..49c DEODORANTS Non-Spi 45c Mum .....23c Ever-Sweet ,24s Odorono 29c, 49c, 98c Amolin Powder 24s

DSE13R0THER

ANNOUN

A Business Coupe Conservative changes in the body design of all other types " BETHARD AUTO CO; 1117 Main Street Richmond, Indiana Phone 1041

Wanted Summer Materials at Special Prices for Friday and Saturday

Yard wide new Ratines in all the latest colors, special, yard 59 75c new yard wide Ratinette Skirtings, special, yard 59 Sport Skirtings in Checks and Plaids, newest colorings, special, yard 89 $1.00 imported Swiss Organdies of the finest quality in 22 different shades, special, yd. 75 A new 6hlpment of 75c Summer Tissues in checks, stripes and plaids, special, yard . -48

Guaranteed fast colored Indian Head, special, ard , 49 25c White Plisse Underwear Crepe, yard.. 19 30c yard wide Pajama Cloth, fine quality, special, yard ..19 25c Dress Ginghams in plains, stripes and plaids, special, yard X5 60c seamless 9-4 Sheeting, bleached or unbleached, special, yard" 39 12Vc Unbleached Toweling, special, yd. ..7J2

The HOOSIER S

TORE

9

3!

X

Perhaps the quaintest form of teadrinking is that practiced by the savage tribes In Tarcary, In central Asia. The leaves are first boiled In soda, then seasoned with butter and salt, and then eaten.

DEVILED II AM

Vr

size can

15c

Clover Leaf Grocery ' 603 Main Phone 1587

The appetizing taste to there ZWISSLEirS POTATO -BREAD t Sold by All Groceriet ZWISSLER'S V 28 S. 5th St

BUY AT KOMEY'S

Simmons oSsetrs METAL CRIB tttTtrB-vw',rV Deaisn 289 T 1 1ff :m

mm

What

Americas Mother? know about the Bahh Sleep REGULAR sleeping habits the long hours of deep, healthgiving slumber are possible only when the crib invites perfect relax

ation of nerve and repose of muscle. The mother who has not yet realized the full force of these elementary facts should stop in and see this display.. She can then see how much quieter a Simmons Crib is than an ordinary crib, and how much more it promises for the wholesome tone of Baby's nervous system. CRIB, (Design 289) pictured above, is built of Simmons Square Steel Tubing; seamless and smooth; beautifully enameled in Ivory . White and Decorative

Colors.. Our Cribs are Priced at

mm

M

fin

BilM' JM - V.

$3.50, $7.75, $8.95, $9.75, $12.50, $14.00 upward Keep Cool with AEROLUX These ventilating: shades

transform your porch into a comfortable outdoor liting room which has an agreeable measure of privacy. They shut-out tha,;, sun, yet allow a perfect cir'

culation of air.

Vt NTILATiNC I tPprch Shades!

ifefsmi

;0 ,tf i)

"Hang-Easy" attachments simplify h an grin g:. "NoWhip" Cords prevent "whip- A pingr in the wind. Durable, inexpensive, weatherproof,

GR

YS1

AL

K

elrigerators

Just Like Gut Few valuable points to remember: (1) Sani

tary; (2) all metal; (3) white enamel; (4) glass shelves; (5) superior insulating; (6) less ice; (7) cold, dry air; (8) doors cannot swell or warp; (9) all parts are removable; (10) will last a lifetime. May we demonstrate our big assortment of Refrigerators to you? Visit our store of ten ; you're welcome.

m?7

Sixth and Main

QUIGLEY'S 4th & Main 920-926 Main Street