South Bend News-Times, Volume 37, Number 205, South Bend, St. Joseph County, 23 July 1920 — Page 13

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SOUTH BEND MEWS-TIME

RUSSIAN OFFICIAL

WILL HELP NATION

Lrnnid Hoxi-nvilrh IvraBi I ;nltr in Countr"s clnpmcnt.

Fighting the "Blue Sky Menace Successfully

(:ONTINLKD FROM PAiK 12)

tri

41 r r

T.rXI"N ! t-" ii c U i r i - -. trti f-w-profession, t t h- r.--."t rt s: i a." sh

b:!nt m!:"n o :t f h' r irTit iif- ; r-j;t;r. In, wh it rf a .ir. r. j-C r.i'j-;n (f i r!ly v.-.- - in .unt,z fur thr p';rj'v.- ( i f n:;.,' tr'io r.rol:;itinr.s wilx th- i:ntih nyernn).t. Xra'.-in U n ih rnr; by blth. Horn In 17?,( hr -i i ' . r ' i f'i- -'it-iiti'.o

civr S if. TV hiu-i' iriral insti

tute at l'- :rk.-r -pi. unl xpf llel .uftt-r thrf" vnr- f"r tfiKmcr pirl hi I tt: ! n t iy.r. '. In IS ji ).' ".i- to .bri.i. Win! at Ii) i:t, h- wrkfl "n thi Tv Sib-' r; in i m ;i a i;. . . i i : 1 in 1 Vj 7 iT his .(,, t v. i 1, .' i i ;t!l wctl t' finv.!'-t Iii -t-i.!i.s .it Khurnrf. H1;

.is iin i f-lb-i In l'S. arni iv.-nt j

to i ; t k j , wn. rr he mij rint'r.i'1 th.j rf'i'Mi : t ! -r;ti i! i ric.il .sbi1 1 r ( r i , . , c - T 1 ;i- '! m - ! .an r f AIji Arthr. Dur.r !' ;. l-.fb- jf ri'".l bo wu ;i!!- in rtr' nidation of ilb-.il ITinti' !!' f'r the i.--ue f "Nxr.i." which brnmo litr tho

to Hi, tho mm wouM trwn actually juft which h must ioac fjorn his r'cular fitht pr cent

fi- . i i v if i ri'i Do'l'.K'tlnir this from lii-

ntrnl com-

I'tinlipu ofli-'f

ni!tff. ni the ;i!s-i:i!i toti.il U-;n-ratio nr!-i!i''N's j . . i : i . Thf y surm1 thr l duti'-n. In J 1 ii a,-ni b ir.ffl the crntr.il 'o.ii.itt'C of ihr i:u.-ian social

iioff;itn. "-ir;vnv p;iiiy. in

Iff aftrrwarl5 rtnrnrtl and ro-i-ninrrl his clwl position in tho cai.ici!v- of lriiiHrr of tho I'ctrosr.'i'l .ill.- y-y-u I tit all th- tinifj asMtiM.j i;i tl"- (: ni?.ition inanrial ..ml i '.hi ic.il oi the bulshovi.--t Mi ty. rovolntioiKiry artivity lol to bis leaving itu.s-i.t ut;.iin and fcettlini; in Iii rhu. working rtrst an cnKtj.t in the Si'-nu ns-Schuckhut os-tab'i-hpu nts. I.trr ho went to th.it t.rir.'s Moscow branch. In Januarj'. I'M 4. ho t omoved to Petrograd and v a.- appointrd managing dirr-ctor of the Si'Tnrn'd idint and intorcht thT?. His connptlon with tho sovlot rcl'iii'lic brs fnrn JMT, when bo went to I5r s;-Ivitok .to treat with the Mormans at the Infetane Lnin and Truthky. ßn returning to Moscow b.c was rl'AJfd provident of th pjjirouie council of national economics and chainn-in of the .Qulpment commit t re of thr red army. Ho r.o r.uicTvIy under th bolshovist roRlme, and a u.ir last Maix-h wan mado roinnil.-.-.tn- oJ thr people for ways and communications. Hr is a woll-ot up man wita black ha'r and a full board, a dirk complexion and a very e-n'ainjj manner. He Is supremely compotnt and an efficient administrator. Only recently he has been in Stockholm. He knows the KuARian portion a.s no one west of the JlusM.in frontier knoys It tolay. Tho irirnd anl contidanto of lcnin and 'i rot sky. ho knev.-s thf ir mtnds, alrr. ;;tid objrets. 1'rom Archangel Lo tha ;-rimeri and the German frontier to lho Uta!s. M. Krasin ha a bird'seye view of ltusia as she is today.

d'-nds amtjiintlnrr fi Jl''' him

!0 .r OMO ofltlhO nf. fn- v-.rj , . r, tl -

utlif-r. ii. .-4 from j ooo investment, or rive and onetfi iy and w ho, itUjthjrfl per cent instead of even the r'.p I-l Uli? the tUr- I ,.'.,ht l.rr rn wV.ioti xtim nconrofl

"Of cous" it was not authorized." was the comment of the director. Another manufacturing concern apparently meded additional capital to provide for the expansion of the business. The company went to a broker and put thr proposition before him, and the broker ofiered to hell an issued of preferred Moek provided tho company reorganized along certain plans specified by the broker. Tho capitalization of the. new company would Le 1 500, 000 preferred Htork and 100.000 shares of common stock without rar value. Tho common stock was to bo issued

! to the old stockholders. The, com

pany was to have an appraisal of its plant, which of coso on the basis of present values would greatly inflate the Company' assets. The broker aUso insisted that the good will of the company be capitalized at a substantial sum. On tho basis o fthc.se highly Inflated assets the stock without par value, would appear to have a book value of $3 per share. Tho broker agreed to underwrite the Issue of $500,000 of preferred stock at tO per cent on the condition that the stockholders of the company (which was a prnall closed corporation) givo him r.0,000 shares of the stock without par value. For the sale of $500,000 of preferred stock the broker proposed to pet a straight commission which would amount to $100.000. In addition to this ho also wanted 311,000 shares of the common stock which he proposed to pell at $5 per share, netting him $150,000. For the sale of $500,000 preferred stock the brcker then would receive $250,000 or a compensation of Just 50 per cent. This, the Wisconsin commission maintains. i altogether too high. Tho Wisconsin commission has taken the stand that S5 per cent of the proceeds from the sale of stock must go to the company for its business, and not more than 13 per cent shall bo used for organization and promotion expenses, including commissions on the sale of stock. The blue sky laws of the 30 different slates vary in effectiveness. Some of the state laws simply require a filing of the literature and financial data with reference to the proposed enterprises and give the authorities no power to check the sale of any worthless securities. Kansas was one of the first states to take the lead in checking blue sky promotion and the provisions of the Kansas enactment in modified form have since been adopted in many other states. Michigan, Wisconsin, Ohio, Minnesota and California have the most complete and effective regulativ security laws. Wisconsin originally required only the filing of data before a company

-'!:: "'it'innitii!'!! iii iM!!!ninninnn!.!!ii!Min,,l!Mir!i!'!iii!H iMMiiriMniM'i'MHnKMiiWMnni'nMnMniH t i iiiiilililliiiailM HI You don't speculate or take any chances when you buy clothes here; they're H so good we guarantee them.

could sell Its stock but at tho last session of the legislature enacted a

more stringent statute under which ;

all brokers are licensed and stocks mwet receive a permit, llach con

tract for subscription or sale must

be in writing and a copy delivered to the purchaser. It is made the duty of the railroad commission to investigate violations of law and it may call to its aid the attorney-general of thft state. The Wisconsin laws divides securities into two classes: "A" and "IV

ri;tvx "A" securities are those of

companies with earnings for at least two enrs of such an amou;it as to give reasonable assurance, of th safety of the investor's principal and

a fair income from his investment j

or on the case or Donus) navin uiriclent real estate fecurity to make payment of principal and Interest reasonably sure. Class "IT securities are those which because of total Kick of earnings, are more or less speculative that is, it is le63 cer'ain that the purchaser will receive any Income from them or even a return of his principal. This should not bo misunderstood. There are all degrees of "Class D" securities. Some are practically the equivalent of Class "A" securities. Others are exteremelj' hazardous. Permission of the state is required of both classes. "A" and "II." If Clas3 "n," advertisements ehall statb in bold face type: "These are speculative securities." Of the securities authorized in five months $27,000,000 were class "A" securities; $14.000.000 were Class "B" securities. Probably as many more were defeated upon official scrutiny. Quick rich schemes entice the gullible In every community and . i ..luv? am tl-io nennv

pavers the widows ana orpnann. Urckerage concerns in the large cities have complete lists cf "suckers" In every town and city. "Suckers" aro probable buyers who although fleeced in one transaction switch their savings quickly to another. They are rainbow chasers.

RED STAR DimiOlT VAPOIt Olli STOVE Works like gas, A complete stock on hand. WAUNKK imOS. 22f South Michigan St.

PRIEST SCORES WOMEN

OiS IMMODEST DRESS

CARDIFF, Wales, July 22. Father Farlin. in celebrating high mass at St. Paul's Roman Catholic church, Cardiff, is.su ed a warning on the nubieot of women's dress.

"I hope," ho said, "that none of the women members f my parish will attempt to attire themselves in some of the present day fashions. "If a woman Immodestly dressed approach tho altar for holy communion I shall refuse to allow her to purtake otitho sacrament, and would pas her by as thouch she did not exist." Father Tarlin said that Ids rein iirKH were merelv intended as a wa miner. "To the best of my knowledge." he added, "no woman has ever entered my church with bare shoulders or In any oilier immodest way." W hen it was pointed out to Father Farlin that his community was compos d strictly of the working-class type, lie replied: "Oil! they are worse than anyone else. Go where you will in the streets, you will find .women of all classes dresed in the last styles. "Why. I frequently see girls goins Ao work in the mills ar.d warehouses wearmz silk stockings and tho like. ' do no: alti-tretb.er blame them. The

riusi-' nnu.s .'f trie last half century

sire really to name. Thev have

t-tage-d turn which amuse but give Inn opportunity for thought, and .when people do r. t thir;!v they bef om a nlm.iN'."

EMGEL'S 401 s. MifhUsn St. Cm I Lite MICHIGAN riSIILNG UCF.NSnS ci.Rrrrri:s Cam! Lucky Strikes, P!dm. r.19. Rlus. Idle Hours, o-js, Life. Ch trf.lds. recu ar 2Cc size ISo package, or arton of :no for..slö Kntima.s. Omnr-, rf cil ir 2fc

s: r 23c package, or i rton of 2 Oil for

S ret Caps. N'e

Shirr's, r.i'tnri of

(Will Open August 19th) GOLDEN EAGLE INN Over 20H-210 South Michigan St. Chinese und American DLshes Best Service Dancing and Music

CARS WASHED AT Auto Market Jefferson at Lafayette Blvd.

"At the Sign of the Checker Board U-SAVE-IT"

(

S2.20

CM A r

p.'Jk.

CIGAIt SPF.Cl.M.S Havana Ribbons, La Resta, L' .a;. tor?. Court Royal. Judse Vris-ht. o-2-8 Owls. Little P 1 ' - Sr. 2 for -Q l. t. 5'" for . . . . V'WtT? ri.ro tobacco llrr-'shoe. Sur and Climax

Vive ppaces ta flf

for

SCRAP T SMOKIN; TOItACCOs I'or.'C, Union Workmen. I'.'w hr.u:. Mai. Touch. Rull Purham. Pecrl. viir.t. Ad-vrrrl?-r. Irum. rb White. Pne Irothors. I'nion Leader. S-.vrrt Tip Top P. S. Regular

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People are fast learning the advantages of buying their groceries where they save all clerk hire, delivery cost, bookkeeping expense and the many other little unnecessary leaks that prevail in the ordinary grocery. Look through the list below, then realize that these are not special prices. They are our regular prices and an index of what to expect throughout the entire line.

For Watermelon Tomorrow

Day

Fine, rich, deep red, sun ripened. Georgia watermelons.

average weight 24 pounds. An unlimited supply at only

40c

Look Through This Lis and Note the Savings Fancy Virginia Potatoes, per peck (15 lb. sack) $1.19 Home grown CelcVy ( 12 stalks to bunch), per bunch . .39c Strictly Fresh Eggs, large and uniform (every egg guaranteed), per dozen .' 51c Miller and Hart's Pure Leaf Lard. 1 lb. carton 25c 2 pound package Good Luck Oleomargarine 75c 1 pound package Armour's 3X Oleomargarine (naturally colored) 37c Mazola Oil, pint can 35c quart can 68c Crisco, 1 lb. can 30c I '2 lb. can 45c Arrow brand Coffee (steel cut), guaranteed to satisfy or your money back, per pound package 37c Jello or Jiffy Jell, all flavors 14c 25c package Savanegg (egg substitute) 19c SUGAR All kinds, all you want. We carry a full line of Heinz food varieties.

STORE

iB 236 N. Main St. 23

e sure you

get

in on

thi

(C3 0 9

Clearaimce

TUT a Mart

C '3311 iSBC-Sjtf-'K C-1

licslli.

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Men'

and

Young

Men's Suits at

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mt ni4

HERE isn't much for us to saw These values are so good thev

A will soeak for themselves. These suits are remarkable bar-

gains and you have wonderful selections to pick from; hundreds and hundreds of suits; all sizes; all sorts of stvles; in single and double breasteds; the shades are blues, tans, greys, browns, and greens; many suits richly silk lined a wonderful array of patterns.

We must clear our stocks now to make room for new goods, so we're quoting these low prices to do it.

Fall

m $35

Hart Schaff

ner & Marx and other reliable suits now

$65, $60 and $55 C Hart Schaffner & Marx Suits now

$50.00 and $45.00 (T Hart Schaffner J)

Marx Suits now

80, $75 and $70 C p p

Hart, Schaffner &

Marx Suits g

now

rj rv im

You know our clothes; the best clothes made; the best values at the regular prices, and now greatly reduced. The savings are genuine. We back up each and every suit; satisfaction guaranteed. If you want a really fine suit now at the price of what unknown, unreliable clothes would cost you, get one, two or three of these suits now at reduced price.

5?ÄÄi , I i -:,'x L 3. i - U, -) A v v rWf ft rX-fti 1 1 .1 - if; if- tf . V 'X I ;; ?-;.- VA?P;';-H hntf I : ! Um M' 1 W lithiS; ' "Uffll Wh U km lit

All $6, $6.50, $7.50, $8.50 and $10 Straw Hats, Panamas, bangkoks and leghorns, now All $4 and $5 Straw Hats now" $3,

All Knox straws are included in these reductionsA VGet in soon, while the selection is still good.J

i Mr i iHih

V'i -lm - V liir ') Vi'

hnkmm&M; ill v

; Mite. nm

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Cop jx'gli 11 ZU Hirt SchafTücr c Marx

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Home of Hart Schaffner k Marx Clothes for Men and Boys

; ; itiiHiiihitt.iMiiii

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SP F3

ft !f o

Corner LaSalle m m

l'c size. .t for 2T rr 12 for $1.00 i , 1 1 1 i i ?fTT!TmH!!!IW"!nn "V M!!rni?!tirir'n!f?;'tM!(M:l I IM'iitin.r.. n.M.. I I f 1 ! I . M ' - 1 HlI'M liiliiiiiiill IKtutlillHIlt iHiiiiiii.iiiiiiiiiihliiiiii.üiiiiiLihiiiii:,!,,,!,!.,!.;..