The Syracuse Journal, Volume 6, Number 9, Syracuse, Kosciusko County, 26 June 1913 — Page 2

The Syracuse Journal GEO. O. SNYDER, Publisher. Syracuse, - • * Indiana. CLOCKS OF QUEER DESIGN Locomotive, Schoolmaster and Indiscretion in Strong Liquor Have Seen Depicted. A Grenoble clockmaker, Antony Jacques, Js responsible for the ingenious clock which he has named “Lea Heures Bacchiques” (“The Hours of Bacchus”). One of the two drunken individuals is drowning in a glass of solored water simulating wine, while his equally helpless companion is barely able to hold out to him, by way of stupid drunken greeting, the f bottle which they have emptied be- ' tween them. In the body of this figure is secreted a magnet which is attracted by the steel hand of the drowning disciple of Bacchus. The two figures remain stationary, but the wineglass, with the hour* painted ip black upon it, revolves so that while the floating figure remains suspended in the water, but motion- ” less, the hours and quarters are marked off by the revolution of the glass, which is made to turn of, a circular place -actuated by the mechanism secreted in the base of this strange but attractive clock. “The School” clock, by M. A. Poitel, constitutes a particularly attractive object for the shop window. It is made to represent the old type of schoolmaster, who, with his stick in hand, used equally for teaching and chastisement, is instructing an urchin tn what appears to be a sum in arithmetic, but the figures really represent the hours, to which the teacher automatically points as the movement impels his arm to indicate the passage of time. La Mappenmonde (the map of the yorld) is the name of another ingenious mechanical device, the invention of a modern French clockmaker of Bethune. The movement is in the interior of the globe, and causes it to revolve, and so mark off the hours on the equatorial band by means of a locomotive, which, by the way, has a separate mechanism of its own whereby, if the glove is made stationary, it may make a circuit on its own rails •f the equator in 12 hours. If the clock is used for show purposes the stationary locomotive with revolving globe is possibly the best method to employ, as the locomotive may then be kept always in view of the public; but as an ingenious and useful clock for private use the circuit made by the locomotive is more Interesting.—From the Watchmaker, Jeweler, Silversmith and Optician. Actor He Wanted. Reinhardt, the producer, w r as asked by a friend to interest himself in a young man with histrionic intentions. “Is he tall?" he inquired sharply. “Yes,” was the assuring response. “Handsome?” “Very.” “Dress well?” “Exceptionally so.” ; r“Good voice?” “Voice like a bell.” “Then I don’t want him,” replied Reinhardt, with a decision which left no room for further pleading. Then he is said to have found Joseph Kainz — mall, shabby, unprepossessing, with ao volume of voice—and gave Germany one of its greatest actors. Submarine Dreadnought. The Russian government is about to build a submarine dreadnought. It Is to be of 5,400 tons burden, more than ten times as big as thej>lggest American submarine; 400 feet long, 18,000 horsepower,, with a radius of action, submerged, of 275 miles and on the surface 18,500 miles. She will be irmed with thirty-six torpedo tubes and with rapid-firing cannon for use when fighting on the surface. Auto Route Across Alps. An electric automobile service has been established across the Alps, at a cost of approximately $500,000. The tine, which is about twenty-five miles In length, extends from Alrolo, Switzerland, through the Bedretto valley and the Nufenen pass, and ends at Ulriphen, in the Valais region, on the Italian side of the Alps. The automobiles have a capacity for twenty-two passengers and maw the trip in one and, three-quarters hours on-express service, running at the rate of twelve to twenty-two miles an hour. The company has ten stations along the route, and three trips are made dally in each direction when there is no snow on the road to interfere with the passage of the vehicles. Advice for Mother. The small girl had been exasperating all day, and at last her mother lost patience and administered corporal , punishment. The child had scarcely recovered from her sobs when she looked up and said: “Mother, you must try and control that temper of yours.” Impossible. “I should think you could get rid of that young man before 11 o’clock." “That shows you don’t know Charlie very well, mother. When he gets started talking about himself there’s no stopping him.” Inflammatory. At a dinner of firemen recently the following sentiment was proposed: “The Ladies! Their eyes kindle the only flame which we cannot extinguish, and against which there is no Insurance.” Sounds Likely. “I see that another unsinkable steamship has been launched.” “Yes?” “Yes. I wonder how they build an unsinkable steamship?’’ “Model it after an Iceberg, probably.” If Lister Had Been Commercial. If Lister had sold his discovery of the antiseptic dressing of wounds, would his name stand where it doe# among the immortals ?—-Toronto

TELLS OF CAMPAIGN FOB FREE SUGAR Witness Informs Senate Probers How He Worked. M. E. STONE TAKES STAND Associated Press Head Carried Statement of Arbuckle Favorable to Free Sugar; Also Answers of C. C. Hamlin. Washington, June 21.—Details of a nation-wide and long-continued campaign advocating free sugar was told to the senate lobby committee Thursday. Frank C. Lowry, sales agent of the Federal Sugar Refining company, secretary and organizer of the “committee of wholesale grocers,” wrote the free sugar chapter for the committee, while Senator Cummins acted as guide through the smoke of the battle of arguments and Senators Nelson and Walsh lent assistance when t_<e issues seemed to become obscure. The committee adjourned subject to the call of the chair. The three Democratic members will be required to attend the Democratic caucus on the tariff bill and Chairman Overman did not know when the hearings would be resumed. Robert S. Lovett, chairman of the Union Pacific board of directors, has not been summoned to appear and his subpoena may not be served until the inquiry is taken up again. Lowry's examination featured the closing session of the committee. He told of his attempts to accelerate public opinion and to persuade congressman and senators, and spoke frankly of his efforts in the national campaign of last fall. Charles B. Warren, president and general counsel of the Michigan Sugar company, was the last witness. Mr. Warren identified letters read into the record as part of the correspondence of C. C. Hamlin, the beet sugar man. Questioned by Senator Walsh about one letter regarding the purchase of bonds of the Chicago Inter Ocean, then owned by G. W. Hinman. Warren said he had received such a letter from Hamlin, but that neither he nor the Michigan company had purchased such bond?. Melville E. Stone, general manager of the Associated Press, testified at his own request regarding the claims contained in some of • the correspondence of Clarence C. Hamlin as to publicity beet sugar men had hoped to obtain through the Associated Press Hamlin's letters had been read into the committee's record two days ago after having been subpoenaed from art files of the United States beet sugar industry, Mr. Stone presented all his letters and records bearing on the demands of the beet sugar interests for publicity through the news association. He testified that October 12, 1911, John R. Arbuckle, a sugar refiner, when leaving for Europe, had given out an interview favoring free raw sugar. That interview was carried by the Associated Press, he said. Washington, June 21 —The major tty members of the senate finance committee amended the Underwood tariff measure so that the president of the United States would have the authority to suspend certain rates in the proposed law and to proclaim special rates against nations which discriminate against products of the United States.

FOUR DIE AS LAUNCH CAPSIZES. Man, Wife and Child and Rescuer Perish in River. Chicago, June 21. —Fpur persons, a man and wife and their daughter, and a switchffian, perished when a gaso line launch capsized in the Chicago river under the B. & Q. railroad bridge neai Twelfth -street. Two other children, occupants of the boat, were rescued and rushed to St. Luke's hospital. The victims are: — Herbert, father. Mrs. Mary Herbert, wife and mother. Herbert, six years old, daugh ter. King, a switchman. Jumped inte water in effort to rescue victims. He was not seen to get out of the water and is believed to have drowned. Gladys Herbert, eight years old, and Leo Romberg, eleven years old, were rescued and sent to St. Luke’s hospital. They will recover. Mrs Herbert's body was the only one recovered. CABINET MEN ARE CLEARED. Ministers involved in Marconi Scandal Acquitted by Commons. 1/ondon, June 21. —After a debate in which A. J. Balfour and Bonar Law led the attack and *Premier Asquith and Sir Edward Grey the de'fense, the house of common# adopted by a vote of 346 to 268 a resolution absolving the cabinet ministers involved in the Marconi scandal. > ;— t French Bankers Warned. Paris, June 21.—The French foreign office gave the leading French bankers to understand that the government would strongly disapprove of any loan being made either to Servia or to Bulgaria until war ends. Hyde Wins Big Victory, New York, June 21.—Charles H. Hyde, one-time law partner of Mayor Gaynor, won a victory when the order of the appellate division of the supreme court reversing Hyde’s conviction of bribery was entered. _________ Taft Going to Gettysburg. Gettysburg, Pa., June 20. —Following the news that Wilson would not be present fit the celebration of the battle anniversary here in July, announcement was made that Taft would deliver the oration July 4. Arthur Pelkey’s Trial Begins. Calgary, Alberta, June 20.—The trial of Arthur Pelky, the prize fighter who was boxing in the ring in this city with Luther McCarty at the time of the latter’s death on May 24 last, began Thursday.

ALEXANDER M. STEPHENS < *JU! Mr. Stephens, who has been made chief of the railway mail service, was once a newspaper man. He is a Missourian, forty-seven years old, and entered the government service as a railway mail clerk in 1894. MALE SUFFRAGIST MARS BIG RACE AT ASCOT Fanatic Emulates the Late Miss Emily Wilding Davison in View of Royalty. Ascot, England, June 21. —August Belmont’s famous colt Tracery, was prevented from winning the Ascot gold cup here by a man who threw himself in front of the horse during the race and was fatally injured while attempting to emulate Miss Emily Wilding Davison’s daring act. He was idetnified as Harold Hewitt. King George and Queen Mary, exiting Manuel of Portugal, the crown prince and crown princess of Sweden, the duke of Connaught governor general of Canada and Princess Patricia, and a number of lesser royalties were watching the race from the royal stand Coming down the straight, August Belmont s famous colt. Tracery, a sbu of Rocksand shot into the lead. Seemingly Tracery was assured of an easy victory. Suddenly a man jumped from the rails, waving a red flag with one hand and with the other pointing a revolver at Jockey Whalley, who had the mount on Tracery. Whalley did his best to divert the horse’s course, but failed Tracery , striking the man full in the chest with his shoulder, sent him flying several yards and came down pn his nose Whalley shot clear out of the saddle and rolled to safety under the rails. Meantime, the other horses came thundering on, one of them giving the author of the trouble, who lay sprawling, a terrible kick on the head in passing. London, June 19.—-Ift bile passing sentence on six militant suffragettes Tuesday, Judge Phillimore warned the prisoners that' they might expect no leniency, eVen if they went on a hunger strike. “Then we shall all die together,” was the retort of Miss Annie Kenney. TWENTY REPORTED KILLED. Tornado Sweeps Tallahassee, Fla.; Score Are Believed Lost. Tallahassee, Fla., June 21, —Twenty persons are believed to have been killed when a terrific storm swept over this city. Many persons were injured, but the results of the hurricane will not be known until the wires are restored. The coast was severely hit, unconfirmed reports reaching here being to the effect that several hundred persons were drowned on the Florida keys. Fishermen and others say that a terrific swell passed over the low marsh grass Islands and that a considerable amount of wreckage has floated to the coast. The reports of heavyloss of life along these keys, however, is doubted.

GIRL’S ASSAILANT IS HANGED. Negro Hanged on Business Street of Hot Springs. Hot Springs, Ark., June 21.—Will Norman, negro, charged with an attack on Garland Huff, a twelve-year-old white girl, was captured in the near-by mountains and thirty minutes later was seized by a mob of several thousand citizens and hanged to a telephone pole on a prominent business corner of the city. The girl died without regaining consciousness. Norman’s body was stripped of Its clothing and punctured by hundreds of bullets, was left hanging under an arc light for more than an hour, after which It was cut down and burned. One Dead, Twelve Are Injured. Kalamazoo, Mich., June 20.—Engineer Hueneyuft was instantly killed and twelve persons were seriously injured when a Lake Shore passenger train collided with a work train, near here, on Wednesday. Many “Hello” Girls to Aid. St. Louis, Mo., June 20.—One hundred strike breaking telephone girls arrived in St. Louis from Chicago and Kansas City. They were met at the Union station by officials of the Bell company. Chicago Leads Parcel Post. Washington, June 19. —Chicago led the country in the number of parcels handled during the three months following the establishment of the parcel post. The stamp sales at the Chicago post office aggregated $1,254,469.35. Illinois Crop Is Damaged. Springfield, 111., June 19.—The protracted drought in Illinois has already done over a million dollars’ damage to the crops in this state, according to the opinion of men who have been studying the situation.

12 DIE, 20 HURT ON INTERURBAN Trains Meet Head-On Near Vallejo, Cal., Cars Telescoped. I MANY BURIED IN DEBRIS Work of Extricating Dead and Injured Made Difficult Owing to Wreckage —Mistaken Signals Blamed for Crash. Vallejo, Cal, June 21—Two interurban trains on the San Francisco, Napa & Calliston electric line came together one mile north of here Thursday and telescoped. Twelve persons were killed and 20 others were injured, several fatally. The trains were traveling at high speed at the time of tht collision. * The dead: H. G. Hunt. San Francisco. George L. Holzworth, San Francisco. S. E. Jowewski. San Francisco. Chris Koch. San Francisco. Miss Gail, San Francisco. J. F. Grabel, Vallejo. r E. C. Judd, Vallejo. P. Herbert, Napa. O. McQuaide, San Diego. S. H. Dayton, residence unknown. Unidentified man. The work of extricating the passengers. some dead and others severely injured, was begun at once. Owing to the manner in which both trains tele»scoped it was extremely difficult to extricate some of the unfortunate men and women, who were buried deep in the wreckage The train from Vallejo to . Napa consisting of two cars, was crowded with passengers from the steamer Monticello from San Francisco, besides a number of passengers frem this city. The car from Napa was weli filled with passengers, a number of whom were coming to Vallejo to take the boat to San Francisco. The crash came on a straight stretch of track at One ATile House Mistaken signals are said to have been responsible for the wreck. Officials of the company announce an investigation to lay the blame, just as soon as all the injured are accounted for. It was not until the trains were within a few hundred feet of each other that the motormen realized that a collision could not be averted. Airbrakes were applied but the momentum was too great. There was a crash that sent passengers from their seats beneath a shower of splintered glass. The force of the impact telescoped the first two front coaches. Passengers in these two front cars were the most severely hurt and it \vas from these ears that most of the dead were taken. The other cars were tossed from the track and piled high one over the other. Beneath this heap of wreckage lay the passengers. Mtnglad groans and cries added io the horror of situation. COURT UPHOLDS RAIL RATE. Principles Laid Dot's In Minnesota Ruling Is Adhered To. Washington, .Tune 18. —The Supreme court of the United States upheld state railroad legislation in Missouri, Arkansas, Oregon and West Virginia Monday. The principles laid down were exactly the same as in the Minnesota rate cases. This legislation Included two-cent passenger laws in Missouri, Arkansas and West Virginia; maximum freight rate laws in Missouri and Arkansas, and freight rates out of Portland in the Oregon cases. The only exception to the sweeping approval of state statutes was in the case of several weaker roads in Missouri. ZEPPELIN TO CpOSS “POND.” Government Looks Favorably on Airship Flight to New York. London, June 20. —“Count Zeppelin and his technical staff at Friedrichshafen are convinced that the modern dirigible airship can cross the Atlantic,” says a Berlin dispatch to the London Express, “and it is probable that a voyage from Germany to New York will be undertaken this summer.” Count Zeppelin is said to have been in communication with the German government, which is disposed to regard his plan favorably. Count Zeppelin believes that with good weather the voyage could be made within three days. MANY SEE NIAGARA SUICIDE. Buffalo Man Goes Over Cataract In View of Tourists. Niagara Falls, N. Y., June 18. —In view of hundreds of tourists and visitors, Frederick H. Hermann of Buffalo, thirty-five years old. leaped into Niagara river from Luna island bridge and was swept over the cataract. His body has not been recovered. " Eighty Women Burned. St. Petersburg, June 21.—Eighty women were burned by villagers, enraged at the importation of cheap girl laborers to work on a sugar estate In the district of Pirlatin, in the province Poltava, southern Russia. Shoots Woman for Burglar. Bowie, La., June 21. —A. Blanchard, a guest, mistaking Mrs. V. L. Walters, hotel proprietor, for a burglar, shot her dead. Stricken with remorse after learning his mistake, he shot and fatally wounded himself. Margaret Wilson Unveils Shaft. Valley Forge, Pa., June 20.—1 n the presence of many spectators Miss Margaret Wilson, daughter of the president, unveiled the monument erected to the memory of the New Jersey Brigade of Continental army. Michigan Forests on Fire. Detroit, Mich., June 20.—Serious damage to property is threatened by forest flres which have been smoldering for days in the northeastern counties and which now show signs of breaking forth.

COL THOMAS H. BIRCH ". ♦ w at*. J J .MHk j|R * Colonel Birch of New Jersey has been selected by the president as minister to Persia. He was Mr. Wilson’s ; military aide when the president was governor cf New Jersey. ILLINOIS CENTRAL TRAIN ROBBED NEAR SPRINGFIELD More Than $25,000 Taken From Safe —Sheriff and Posse Go to Scene of Robbery. Springfield, 111., June 19. —The Illinois Central’s Diamond Special was held up at 12:30 Wednesday morning four miles from Glen Arm, 13 miles from Springfield. The train was Chicago bound. Between $25,000 and $35,- j 000, it is said, was in the strong box of ' the express car which was dynamited six times. The train was stopped by a danger signal light displayed on the track, j Adam Schell, engineer, sent Fireman P. S. Miller off the engine to investl gate. Two masked men appeared from the side of the track and one of them fired at Miller and compelled both of the enginemen to hold up their hands I Then the robbers uncoupled the engine tender, baggage and express cars I from the passenger coaches and ordered the enginemen to pull ahead. Expressman Pugh of Chicago, in charge of the express car, was over powered. Conductor Nicholas Williams and passengers could hear the robbers far up the track trying to blow the safe. The conductor then went to Glen Arm and notified the sheriff's office in Springfield. TAFT TO DELIVER ADDRESS Former President to Talk at Gettysburg Celebration. Gettysburg. Pa.. June 20. —Followtug the news that President Wilson would not be present at the celebration of the battle anniversary here in July, semi-official announcemen? was made that former President Taft would be here to preside over the great gathering and to deliver the principal oration July 4, the closing day of the anniversary. have been taken to gather together as many as possible of the Gettysburg women who years ago sang patriotic songs as Muford’s cavalry galloped through in preparation for the fight of the first day. CASE ENDS AFTER 23 YEARS. Suit Growing Out of Steamer Explosion Is Finished. Chicago, June 19.—8 y an order of Federal Judge Landis, a damage .suit I involving $60,000 which has been dragging through the court for twentythree years was brought to an end. The case was that of the heirs of the sixteen victims of the Tioga steamship explosion in the Chicago river in 1890 to recover damages from the owners of the boat—the Union Steamship company. MINERS RENEW INDUSTRIAL WAR W. Va. Coal Workers Call New Strike In Cabin Creek District. Charleston, W. V., June 18.—It is reported that the industrial war in the Paint and Cabin Creek mine districts has been renewed. The senate mine strike committee continued its examination of witnesses. During Monday miners, detectives and agents of the mine operators came down from the strike region with tales of anew strike declared and the district again thrown into disorder. 100 QUAKE DEAD ARE FOUND. Many Bodies Are Recovered From Ruins in Bulgaria. Sofia, June 18.—The bodies of 100 dead have been taken from the ruins of the houses demolished in the earthquake Saturday at Tirnovo. Willie Ritchie Ousts Nolan. San Francisco, June 21.—Lightweight Champion Willie Ritchie announced that all further relations between himself and Billy Nolan as his manager were at an end. Financial difficulties were given as the reason. Gompers et al. Get Appeal. Washington, June 21. —Chief Justice White granted an appeal to the Supreme court for Samuel Gompers, John Mitchell and Frank Morrison) labor leaders convicted of contempt of court in the noted Bucks case. Sails for an Unknown Land. Victoria, B. C„ June 19.—The Stefansson arctic expedition, which left here, differs from most polar undertakings in that its objects are practical and commercial. Its purposes are to learn whether a polar continent exists. Asks High Corporation Tax. Washington. June 19.—Senator Hitchcock Introduced in the senate ar amendment to the income tax bill pro • vising a graduated tax on corporation! having a capital of more than SIOO. 000,000.

(CONGRESS GETS CURRENGY BILL Wide Reform Is Provided For in New Measure. RIGID RULES FOR BANKS Details of the Proposed Law Which Has the Indorsement of President Wilson—Federal Board to Have Control. Washington, June 20.—The Owens-Glass-McAdoo banking and currency bill was introduced in both houses of congress today. This bill, which has the approval of President Wilson, may be modified in some particulars during its considera tion by congress, but in most of its I features it will be the law of the land, i iu all probability" before the adjournI meat of the present session of conI Summary of Provisions.. Summarized, the bill is as follows: | The secretary of the' treasury, the ; attorney general, and the controller of ■ the currency are formed into an ori gauization committee for the purpose | of dividing the United States into not I less than 12 districts, each district to I contain a federal reserve city. In each federal reserve city the organization committee will organize a federal reserve bank. Every national bank within a reserve district must subscribe 20 per cent, of its unimpaired capital to the capital stock of the federal reserve bank of that district, the capital stock I to be not less than $5,000,0,00. Limit on Branch Houses. Each federal reserve bank may esI tablish branch offices, the number of which must not exceed one for each $500,000 of the capital stock of such federal reserve bank. Every federal reserve bank shall be Incorporated and shall have succession for a period of 20 years from its organization. x Every federal reserve bank shall be controlled by a board of nine directors bolding office for three years, three of whom shall be chosen by the stockholding banks, three representing the general public interests, of the reserve district, and three designated by the federal reserve board. Shareholders in a federal reserve bank shall be entitled to an annual dividend of 5 per cent, on the paid up capital. Raising of Surplus Fund. One-half of the net earnings shall be paid into the surplus fund until that fund amounts to 20 per cent, of the bank's capital, and the remaining half shall be paid to the United States. When the surplus fund amounts to 20 per cent, of the capital and the shareholders have received their five per cent, dividends, all excess earnings shall be paid 'to the United States. Any bank, banking association, or trust company may subscribe to the stock of a federal reserve bank. A federal reserve board is created consisting of nine members, the secretary of the treasury, the secretary of agriculture, and the comptroller of the currency, three members chosen by the president of the United States and by and with the advice and consent of the senate, for a term of six years, one of whom is to be the governor, another the vice-governor, and the third the secretary; and three members Qhosen by the, electors of the federal reserve banks. Powers of Federal Board, r The federal board as empowered: To examine accounts and books of federal reserve banks. To, require or permit a federal reserve bank to rediscount the paper of any of the federal reserve banks. To establish each week or oftener a rate of discount which shall be mandatory upon each federal reserve bank for each class of paper. To supervise and regulate the issue of treasury notes to federal reserve banks. To require the removal of federal reserve bank officials for incompetency, dereliction of duty, fraud or deceit. To require the writing off of doubtful or orthless assets upon the books and balance sheets of federal reserve banks. To suspend the further operations of any federal reserve bank and appoint a receiver therefor. Limit of Bank’s Business. A federal reserve bank may receive from any of its stockholders deposits of current funds, national bank notes, federal reserve notes or checks and drafts upon solvent banks. Upon the endorsement of any member bank it may discount notes and bills of exchange arising out of commercial transactions. Such notes or bills, however, shall not be discounted for speculating purposes. Various restrictions are imposed in reference to the extent of the loaning power of a federal reserve bank. The federal reserve board may authorize the reserve bank of a district to discount the direct obligations of member banks. Certain open market operations are permitted to reserve banks. Fiscal Agents of Government. All moneys now held in the general fund of the treasury will be deposited in federal reserve banks, which shall act as fiscal agents of the government. All revenues of the government shall j

Teaching the Child by Pictures. One of the quickest ways in which to put an idea or a story into a child’s mind is by means of pictures, aud 11: j material available for Sunday school or chib work is both excellent In quality and of great variety There are Bible stories, films on nature study, films illustrating the trades and industries, films dealing with a ■pure water supply, warfare on flies, mosquitoes and tuberculosis. In the fine arts are films tracing the progress of architecture, lace making, pot-

he deposited in such banks and dis bursements drawn against such de posits. The federal reserve banks may be required to pay interest on government deposits, but shall not pay interest on any other. The government and state banks depositing in the federal reserve banks shall be the only depositors iff the reserve banks. An issue of $500,000,000, pips an amount equal' to the amount of national banks notes which may be retired, is authorized. This issue shall be made at the discretion of the federal reserve board. Division of Treasury Notes. _ Any federal reserve bank may make I application to the, federal reserve board for such amount of- treasury notes as it may desire, such application to be accompanied with an offer of collateral security to protect the notes, equal iu amount to the sum applied for. Whenever any federal reserve bank shall disburse federal reserve trasury notes, it muss hold in its own vaults gold or lawful money equal in amount to 33 1-3 per cent, of the treasury notes so paid out by it. Federal reserve banks may be required to deposit in the treasury a sum in gold or lawful money equal to 5 per cent, of whatever amount of federal reserve treasury notes issued to it. Exchange of collateral put up for notes, is provided for. Service as Clearing House. The federal reserve board may act as a clearing house for federal reserve banks, and may also require each sueb bank to exercise the functiovs of a clearing 1 house for its shareholding banks. Provision is made for the reduction and wiping out of liability by federal reserve banks. The secretary of the treasury is directed to exchange United States 2 per cent, bonds, bearing the circulation privilege of 3 per cent - bonds without the circulating privilege. When the outstanding 2 per cents shall be ex- , changed or refunded the power of na i tional banks to issue circulating notes I secured by United States bonds will cease. Every national bank may receive circulating notes under the conditions prescribed by the bill but no national banks shall be permitted to issue circulating notes or any substitute thereI for. After twenty years national bank I notes remaining outstanding shall be recalled. Demand for Bank Reserves. Within 60 days after the establish; ment of a federal reserve batik every national banking association shall establish with the federal reserve bank of its district a credit balance on the books of tlie latter institution equal to not less than three per cent, of its own total demand liabilities, exclusive of circulating notes, and at the end of 14 months this amount shall be increased to five per cent. National banking associations classified as country banks and situated outside of central reserve and reserve cities must maintain a reserve equal to 15 per cent, of the aggregate amount of their deposits. National banks in reserve cities must maintain a reserve of 25 per cent, of their outstanding deposits for 26 months after the, passage of the bill and for 13 months thereafter- 22% per cent., and at the end of 38 months permanently a reserve of 20 per cent, of their stand ing deposits. Every federal reserve bank must at all times have in its vaults In gold or lawful money a sum equal to not less than 33 1-3 per cent, of its outstanding demand liabilities. Drastic Examination Provided. Drastic and frequent examination of- - banking associations are provided for. Any national bank making a loan or gratuity to an examiner is subject to a fine of SI,OOO and the officer or officers of the bank authorizing it to an . additional fine of SSOO Any examiner . accepting the loan or gratuity is fined SSOO and disqualified from office. No officer or director of a national bank may be a beneficiary of any transaction made on* behalf of his bank. Should he violate this provision he will be.punished by a fine of not less than $5,000 -or by a peniten tiary sentence of three years, or both. Responsibility on Persons. The stockholders of every national banking association will be held individually responsible for all obliga-, tions of such association. Any national banking association not situated in a reserve city may make farm loans, equal to 25 per cent, of its capital and stfrplus or 50 cent, of its time deposits. * Any national ,banking . capitalized at $1,000,000 or more may through the federal reserve board, establish branches in foreign countries. The bill describes itself as “a bill to provide for the establishment of federal reserve banks for furnishing an elastic currency, affording means for rediscounting commercial paper and. to establish a more effective super * vision of banking in the United States,, and for other purposes.” It prescribes that the short title of the act shall be the “federal reserveact.” The second section which relates to “federal reserve districts’ requires that within 60 days after passage of the bill the secretary of the j treasury, the attorney general, aud the controller of the currency, acting as a reserve bank organization committee, shall designate from among the reserve the cities now authorized by law a number of such cities, not less than 12 to be known as federal reserve cities, and shall divide tho continental United States into districts, each district to contain one of such, federal M reserve cities.

tery, sculpture and painting, while In literature there are presentations of the work of such authors as Shakespeare, Scott, Dickens and others. Travel and history are also presented, —Farm Journal. 1 So Embarrassing. The Little One—Pawdon me. but I have an impwession that I have met you before. Aren’t you on the waiting list at our club? The Big One—Yes, sir. I’m the head , waiter there, thank you, sir.—Puck.