Richmond Palladium (Daily), Volume 93, Number 15, 17 January 1923 — Page 14

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THE RICHMOND PALLADIUM AND SUN TELEGRAM, RICHMOND, IND., WEDNESDAY, JAN. 17, 1923.

The F;

arm and the Farmer

By William R. Sanborn

THE COUNTRY BANKER "During tie last two strenuous years every element of the community haa had Its own troubles, and the country . banker has been no exception to. this rule." Thus discourses the editor of Current Live Stock Events, a paper devoted to the intereats of the Live Stock Exchange at the Chicago yarda. The writer then goes on to say that: "The great majority of these useful and essential financial institutions have successfully weather the storm, but not without loss Inseparable from deflation. Jn common with farmers, merchants, manufacturers and commission men, they have been penalized by enhanced expense of doing business and rapidly mounting taxation, but as an Institution the country bank has demonstrated Its efficiency and capacity for service to the community." All our readers will admit the truth of this statement. The country bank !s a trusted and respected institution. It occupies an Important position in the rural community and fills a want for which there la no other source of convenient and adequate supply. The advice to get Into the confidence of your banker and get an Idea of what lie haa to contend with Is most timely. Considerable propaganda has from time to time been launched by apostles of discontent against the country banker, by men wholly ignorant of the demands made upon country banks and based on comparisons between local Interest charges and federal reserve discount rates. The president . of a Chicago bank recently mads this statement: "Rediscounts are not earning assets. Every dollar of rediscounts is simply an accommodation loan of a bank, made without profit, and wholly at the bank's risk. It la not an asset but a liability, and the larger line of re

discounts the bank has. the weaker it is. The difference between the federal reserve discount rate and the local bank Interest rate Is hardly great nough to take care of the daily operating expenses of the mank, leaving nothing to meet the other obligations that come to the bank with the certainty of death." It la doubtless true that this sidelight on rediscount operations will create a new Impression as to the functions and value of the federal reserve banks to the average banker, la city of country. The statement that "the larger line of rediscounts a bank haa, the weakeT it is," is not the general supposition of borrowers, except among those who give this matter study, and who will take all circumstances affecting such loans into account. Better Days Ahead Better days ahead Is the prophecy contained in a letter mailed us by tiie faculty at Purdue. The letter ews into some detail as to the work put on at the farmers' short course last week, and names a number of prize winners in the contested classes. The letter follows: "There are better days ahead apparently for the farming interests of Indiana, during the new year than at any time for the last three years. This v as the one big idea expressed by farmers and farmers' wives, economists, educators, and others on the program at the annual farmers' short course at Purdue university. The note of optimism was sounded more frenuently at this course than at any in the last few years, because there were better figures on the prices of farm products, especially corn, witti which to back up the statement. "The short course attracted men and women from 75 counties and six different outside grates. The total enrollment, howe.-r, was not quite up to

!a.-t year when a record of 1,500 was established. A heavy snowfall in many parts of the state cut this down. The state corn and potato shows were held during the week, along with annual meetings of the Indiana live stock and dairy organizations, corn growers, vegetable growers, and home economics associations. "In the state corn show, L. M. Vogler, of Hope, won grand sweepstakes honors on his 10-ear sample of Johnhon county white corn. His yield was better than SO bushels to the acre for an 80-acre field, showing again that the famous Indiana show corn possess

yielding ability second to none in the United States. "W. V.'. Stauffer, of Akron, grand sweepstakes winner "in the potato show, winning on a peck of Irish Cobblers, is one of the best potato growers in the state and has the stale record for yield. He has had an average yield of 305 bushels per acre on about 10 acres for each year for the last three years. "State club winners selected at the state show were: Mildred Cochran, Frankfort, in canning; Harriet McCutchan. Inglefield. in sewing; Virginia Vannice, Amo, in baking; Ruby Connaway, Connersville, in homekeeping. These girls will get $50 trips in May. John Shutt, Garrett, won the boys potato club contest and a $100 trip to Washington. D. C." Mr. Stream's Advice The world's greatest grain market.

the Chicago Board of Trade, has a

new president, who assumed his new duties Monday. Like all presidents, he delivered an agricultural address and in this outlined the policy of the

board for the coming year, calling at

tention to three major problems confronting the association. These problems, he said, are: "First and most vital, the question of big business as

now practiced on the exchange; sec

ond, the Capper-Tincher bill; and

third, the demand of farm bureaus for

membership."

The new president John J. Stream, was surprisingly frank in his comment

and advice. The Chicago Tribune

quotes his as follows: "While there is no quarrel with big business that is

legitimately conducted on lines of fair

play, recent events make it apparent to even the most casual observer that the practices of big business are fast

becoming a menace, and unless check

ed and brought within proper bounds

can result only in ultimate destruction of the organization."

He expressed the belief that failure of the Board of Trade to correct abuses brought about the Capper-Tincher law,

with its destruction of individual free

dom of action. If corrective measures

are not taken, further regulation can

be expected, Mr. Stream asserted.

Political expediency ia a poor excuse for artificial inflation of prices, he declared. Even though it may give the producer a temporary advantage, it can result only in his ultimate loss, as after effects of price inflation are demoralizing, both to the producer and to the grain trade. The new president declared it will be the aim of the administration to establish more friendly relationships with the farm bureaus, even to the extent of admitting farmers' representatives to membership if common ground for so doing can be found. Had 80,000 Hogs. For the first time in about 60 days the day's average price of hogs at Chicago fell below $8 on Monday. With 80.000 head in the pens, including 19,000 held over from Saturday, the market opened weak at a 10c to 20c decline, but a large shipping demand and urgent buying on local account strengthened the market and fully half the decline was regained. The top on the day was $8.40. Swift bought a drove of heavy packers at $7.62. The largest day's receipts in two months weakened the price of lambs, and a drop of 25c to 50c was scored. Top on lambs was off 35c at $14.65, which isn't a bad figure, circumstances considered. Some S00 members of the Producers' association, including a number of managers of country shipping associations, met in the palm room of the Claypool at Indianapolis on last Thursday. Murray Barker presided, and several talks were made, there being three sessions during the day and evening. Among the speakers was F. M. Simpson, in charge of opera-

GIVE INDIAN OPERA AT COLISEUM TONIGHT Final rehearsal of members of the the cast of the Indian opera which is to be presented Wednesday night at the Coliseum was held on the Coli-" seum stage at 3:30 o'clock Wednesday afternoon. It was announced Wednesday morning that the reserved seat chart, which has been held at the Weisbrod store, will be removed to the box office of the Coliseum at 6 o'clock. Although there has been a satisfactory sale, a number of good seats still are available. Pictures of some of the principal characters of the cas.t are on exhibit at Romey's, Fulghum's and Jenkins' stores and at the Hirschburg studios. The opera will open with a concert by the American Legion band at 8 o'clock and will close at 10:20 o'clock.

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tir?y Gives von new pep. If A

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I I

Prices

Ice Cream Completes the Dinner.

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Genuine Mahogany Davenport Tables, Special $22.50

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To top off the meal With the most delectable desert serve I

our Fresh Fruit Strawberry Ico I Cream (made with Florida ber- 1 ries.) E French Black Walnut Ice Cream 1 1 French Tutti Fruitti Ice Cream Delivered to your home in pack- I 1 ers. Dine your friends at Price'! 1 while down town shopping. A I luncheon that is satisfying and 1 good. i I Our 5Sth Year 6inlfiuiiiltitMkiittiiift(ttiiiiitttiMiiuiiiii!tiHiii(Hiiiiniiiiiiiiiiiuiiuntiiiiiinw

tions at the Chicago yards, who stated that the Indianapolis office was one of the most successful of the six sales offices now operating. Of the $70,000 profit shown by the six offices up to Jan. 1, Indianapolis is credited with having earned $28,000, dating back to the middle of last May, when the office was first opened. A dividend will be declared at the end of the first fiscal year, next May. One Million a Month A statement read at the meeting showed that the total value of the livestock handled at Indianapolis in the seven and one-half months to the end of December was $7,403.70, the highwater mark being reached in December, when the sales reached $1,566,063. Beginning with 191 carloads handled in May and ending with 1,148 cars in December, the receipts for the time in business made a total of 5,375 cars, including receipts by truck. The percentage of receipts by rail was 21.28 and of driven stock

Called by Death

RAYMOND CHURCHILL. EATON, Ohio, Jan. 17 Raymond Churchill, 23 years old, son of Mrs. Bertha Churchill, of Eaton, died Monday at midnight in Dayton, in the home of his half sister, Mrs. William Flannery, after a brief illness of pneumonia, and the body was brought to the home of his mother here for funeral and burial. Funeral services will be conducted Thursday afternoon at 2 o'clock in the Presbyterian church and burial will be in Mound Hill cemetery. Mr. Churchill was a native of Eaton, a son of the late Charles F. ChurchillHe was a graduate of the Eaton schools, and a member of the local Phi Delta Kappa chapter. He had been in Dayton the last year or longer in the employ of the Johnson-Shelton company in the shoe department. Besides his mother and half-sister, he Is survived by two half-brothers, George and Everett Churchill, of Eaton.

27.76 as figured against the total receipts at Indianapolis during December, according to the report of the producers just to hand. "The reputations Americans have of being the greatest meat eaters is mostly bunk." says writer for the farm press. "Argentina, Australia and New Zealand, in the order named, are the largest consumers per capita of meat. "Owing to the high price of meat, out of proportion to the price obtained by the farmer for his live stock, there has been a marked decline in tonsumption of meat in the United States which has made it still harder for the hard hit and deflated live-stock farmer, compelling him to cut down his operations. "Here we have further prood that fair dealing all around is good busi-

MONROE FARMERS' INSTITUTE CLOSES WEST MANCHESTER, Ohio. Jan. 17 With a community play Tuesday night, a full two-days' institute of the Monroe Township Farmers' Institute association, conducted in the township central school building, came to a close. 1 "Farm Folks" was the title of the play and was presented by Leonard House, James Petry, Frank Howard, William Kimmel, Joseph Beck. Mrs. Leonard House, Mrs. William Beasley, Mrs. Joseph Beck, Mrs. James

ness and that exploitation, on the other hand, is a business killer." A Wayne .county farmer has made a great discovery. He says the air is free and always has been, but that nobody appreciated it until tires were invented. Guess he's right at that. But free or not, after you have spent 30 minutes with a hand pump inflating a big tire you begin to doubt that air is free; you believe that you have earned every cubic inch of air in the tube, and then some, which indeed you have.

Thomas, Mi6s Anna Eikenberry and Miss Fern Woolf. From an Instructive standpoint, the institute probably was the most successful within the history of the association. The meeting was conducted independent of state financial aid. The instructors and speakers were:

Alfred Vivian, Columbus, dean of the state agricultural college; Congressman Charles Brand, Urbana; Mrs. F. j M. Glasgow, Columbus, and A. F . Hedges, Dayton, manager of the C Miami Valley Milk Producers association.

For Inventory and Income Tax Reports if you desire our personal attention will be given to the handling of your Inventory and income tax reports. Call or write

At Feltmari's

Last Week of Our SHOE SALE Of up-to-the-minute merchandise. Every pair of shoes in our stock at a discount of

1U to 50 Tan Calf Bal., made over a brogue last, rubber heels. (T J f?f Priced at . . p4:UU

Feltman's Shoe Store. The World's Largest Shoe Dealers 41 Stores 724 Main Street

FACTS ONLY

TS(lJSrR3UMS A Few Pre-Inventory Specials

For Thursday, Friday and Saturday

S6-inch Taffeta in a few shades, black included; the yard S1.19 40-inch Canton Crepe, new Spring stock, $3.50 quality: the yard SS.95 One table of Kimono Silks, Crepe Poplins and Silk Poplins, values up to $2.50: the yard 7) 59c Shriting Madras, good stripe patterns, 32 inches wide; the yard 4oC Serpentine Crepe, Japanese Crepe and Lingerie Crepe, 35c values; yard 25 42x36 Pillow Cases, hemstitched, made of on extra good grade muslin, a 50c value; each 32 81x90 Seamless Sheets, good quality, deep hem, a $1.50 value; each SI. 19

45x36 Hemstitched Pillow Cases, lace trimmed, $1.50 value; the pair SI. 10 22x45 heavy Bath Towels. 45c quality; 3 for. . .gj .QO Heavy fancy Wash Cloths, large size; each - 10 New Spring Ginghams, 32inch, in check patterns: the yard 22 c Shirting Cheviots in good stripe patterns and dark grounds. 22c value; priced, per yard ' 16c Extra heavy 27-inch Outings in light and dark grounds, stripe patterns; the yard 12'i Choice of 36. 40 and 45-inch Pepperel Pillow Tubing, the yard o g ...... One lot of 36-inch Cretonnes and Silkolines, values to 35c; the yard 20

IS.

Thistlethwaite's The Original Cut-Rate Seven Convenient DRUG STORES

Our "One-Day" Cold Tablets at 24 o Menthol Cherry BarkCough Syrup. .24o & 49 DeWitt's White Pine and Menthol Cough Syrup now at 23e and 43c

ANOTHER BIG

LOO

turday

Watch for our advertisement in tomorrow's issue of this paper.

Charles

JEWELER

810 Main St.

aner

Glasses Fitted

ISfiBSG

& : ?v SM! (Ml

ALWAYS READY TO

SERVE YOU When It is not convenient to come in for your waDts, phone us, you will find our service as efficient as our drugs are pure. You can depend on thia service next time you phone. What you'll need at lower prices

I y

FREE 30c Haut Tin Perfume with Face Powder or Cold Cream.

TRUTH ALWAYS

40c Castoria 29c Garden Court Cold Cream 50; Garden Court Benzoin Almond Cream 50c Chaptilla 25c Yivain Lemon Lotion ...50c

Are You Hungry? Then Eat at Our Luncheonette

You'll Like it.

Over night cold tablets 24c 35c Piso's Cough Syrup 29c 35c Tonsiline 29c 30c Bells Pine Tar Honey 25c 60c Bells Pine Tar Honey 53c $1.25 Dreco 98c $1.00 Pinkham Veg. Com. 89c

Our

anuary Clearance Sale

oses Saturday, January 20th

See these Bargains from our Second Floor Annex. They will be placed on sale tomorrow. This is your chance.

White Petticoats in Heather bloom, Satine add Windsor Crepe, with flounces, hemstitched hem and scalloped edge, former price S1.50 and $2.00, January (-1 A A Sale Price pl.UU French Ginghams, Scotch Zephyrs and embroidered tissues in stripes, checks and fancy plaids, 32 to 36 inches wide, A worth 75c to .$1 yd. January SaleiOO Small check printed tissues, dark printed dress voiles and check tissue ginghams. 32 to 38 inches wide, former price Q Q g 58c to 75c, January Sale Price . . . OOC Final Clean-up on Children's Winter Dresses and Wool Jersey and Serge Jump

ers, sizes from 8 to 14 years, former price

SG.00 to S10.00, January Closing Out Price

W4 tliVJl J., 1. 1.1 $4.95

A small assortment of Tussah, Taffeta and Jap Silk Breakfast Coats" box loom crepe, hand embroidered kimonos and wool albatross negligees, former price $5.00 to $7.50, January Closing CT0 AO Out Price 30yO 1 dozen of Silk Jersey "Sport length" Pcttibockers in peacock blue, jade green, old rose and brown, regular price $3.98, January Closing Out (TQ AO Price at n.lO 20 Children's Winter Coats, Girls' Coats and Boys'- Overcoats in velvet, plush, velour, broadcloth, cheviot and chinchilla, sizes 2 to 6 years, former price $7.50 to $12.00. Every garment a gen- (!r Ar uine bargain, Closing out price J)00

LEE B. NUSBAUM CO. mm