The Syracuse Journal, Volume 16, Number 10, Syracuse, Kosciusko County, 5 July 1923 — Page 4

THE SYRACUSE JOURNAL •»«FU«LICAN Published every Thursday at Syracuse. Indiana Entered as second-class matter on Muy 4th, 1908. at the postoffice at Syracuse, Indiana, under the Act of Congress of March 3rd, 1879. (Foreign Advertising Representative . THE AMERICAN PRESS ASSOCIATION SUBSCRIPTION RATES One year, in advance.. $2.00 Six months 1.00 Turee months 50 Single Copies • .05 11. A. Buettner, Editor and Publisher Clara 0. Buettner, Associate Editor —STAFF— Mrs. Crist Darr Four Corners Mrs. Ross Rodibaugh..North Wobster Mrs. Wm. Sheffield West End Mrs. Calvin Cooper Gilberts Mrs. Henry Rex.. . . .Solomon’s Creek J. U'Kline Tippecanoe Minnie Robinson Pieusant Ridge Mrs. Ernest Mathews.... .White Oak Violet Kauffman Cedar Square Mrs. C. Richcreek.. 'Colley’s Corners Thursday, July 5, 1923 “I know not whit the truth may he, I till It as Ins told to me.”—Editor WHAT IS A “BUCKETSHOP”? The many failures of stock brokerage firms in recent years has brought to the fore the old problem of driving the “bucketshops" out of business. Before headway can be made the public, must know exactly what a bucketshop is. Legitimate brokerage houses should not, of course, be driven out of existence in prosecuting the bucketshops. The legitimate brokerage firm I acts as an agent for public customers in the purchase find sale of securities. It also | obtains credit for such customers, thus enabling them to buy “on margin.” If, for example, an investor buys through a brokerage house 100 shares of U. S. Steel stock at SIOO per share, he can either pay the purchase price of SIO,OOO or he can deposit with the broker $2,000, say, as "margin" and let the broker obtain the remaining SB,OOO for him. This the broker does by paying the seller SIO,OOU due, and then borrowing the SB,OOO from a bank upon the colateral of the stock certificate. Thus most of the stock certificates bought "on margin” by customers, they never actually see. Nor does the legitimate broker usually keep them in his office, for he may in the manner suggested above put them in a "loan envelope" and deposit them with a bank to obtain a loan upon them. The customer sees only his statement from his broker, upon which he is credited with the securities he has bought. This practice with regard to '“margin" stock is unavoidable and is in every way legal and legitimate. But owing to the fact that most brokerage customers do not fully understand the business, it permits unprincipled brokers to sell out their customers* stock as fast as it chased—which is if the

he has to take the broker’s word for it. 1 The “bucketing" broker pro- ( fits from this illegal and underhand practice in two ways. In ! the first place, he charges inter- • est on SB,OOO to the customer, when he is not actually borrowing money to carry his stocks at all, since he has already sold them out. This “interest” is, of course, all pure profit. In the second place, if the market declines, either the customer, discouraged by the decrease in his margin which this causes, orders the stocks sold, or else the bucketeer sells him out when his margin has become exhausted. If, for example, the customer buys 10 shares of steel at 1(0 on a SSOO margin, his margin or equity in the stock amounts to only 5 points in its price. If the price of steel falls to 97, and he orders the stock sold, the bucketing broker, who i has secretly sold it already at about 100, makes about S3OO, while if the price of steel falls to 95, the broker pretends to "sell out the stock," to avoid loss himself; actually he has already sold it, and thus simply pockets the customer's SSOO. Most people who speculate, and particularly amateurs, are always buyers. Hence the bucketshops can flourish only when the stock market is declining. During the long decline in the stock market from November, 1919, to August, ! 1921, bucketshops posing as broi kerage houses in Wall Street i made huge sums of money. But the business becomes immediately unprofitable on a rising stock market. That is why so many bucketshops failures occurred between August, 1921, and the peak of the high market last fall. RUM CAUSES TROUBLE ON FOREIGN VESSELS !L When the supreme court decided that the eighteenth amendment and the Volstead act extended to all merchant vessels, foreign and domestic, within the territorial waters of the United States and possessions, it threw the State Department into complications growing out of French and British and Italian laws respecting the use of liquor on the ships flying their flags. France has a law under which j every French sailor is entitled to his daily ration of wine. According to Italian law, it is necessary for a steamship company employing Italian sailors to furnish each one with a stipulated daily allowance of wine. Foreign governments argue that when they seal their liquor cargoes the American law is not violated, even though the vessels carrying these cargoes enter the Fisk Tire Prices Reduced. 30x3 Plain Casing.... slO*6» 30x3J Non Skid Fabric ... sl4-50 30x3} Red Top $17.50 [ 30x3} “Ninety Six" K

maritime jurisdiction of the United States. The State Department asserts that there is a fleet of foreign vessels outside the three-mile limit which, under protection of foreign flags, is aiding in the violation of the law r s of the United States and causing the United States much inconvenience and embarrassment. Secretary Hughes has submitted a new treaty which would extend the right of visit and search to a distance of twelve miles for all nations. The British government declared a year ago that it was difficult to accept the proposal as .it had “consistently opposed any extension of the limit of territorial waters.” The contention has been put forth in some quarters that even if such a treaty were negotiated and ratified by the senate, it is possible that when submitted to the supreme court for consideration that body would hold it unconstitutional. As the matter now stands a large part of the liquor on foreign ships may remain unmolested if sealed for medicinal purposes, but all surplus will be seized and confiscated. An effort will be made in the next congress to modify the law to meet the ideas of the foreign governments. -..-0 — HOME COMING Mr. and Mrs. Floyd Mick and two children. Thelma and Walter, of Defiance, Ohio: Mr. and Mrs. Ed Flynn and three children, Eldon. Icie and Faye, also Clarence Foster, all of Colombia City. Ind.: Mr. and Mrs. James Mick and five children, Mabel. Phyllis. Clarence. Ralph and Frederick. of Syracuse: and Mr. and Mrs. Floyd Kehr of Goshen, all spent the Fourth at the home of the parents Mr. and Mrs John Evans: After dinner they all had their pictures taken. All reported a good time. o No. 305 BANK STATEMENT Stephen Freeman, President J. P. Dolan, Vice President W. M. Self, Cashier Sol Miller, Assistant Cashier Report of the condition of the State Bank of Syracuse Bank at Syracuse, in the State of Indiana, at the close of its business on June 30. 1923. RESOURCES Ixians and Discounts $359,977.63 Overdrafts 742.92 U. S. Bonds 8.700.00 Banking House 20.765.18 Furniture and Fixtures... 4,950.00 Other Real Estate .. 11,850.00 Due from Banks and Wust Companies 83.420.5 S Cash on Hand 12,552.8$ Cash Items 1,692j10 Total Resources. LIABILITIES Capital Stock —paid in.... . $31,000.00 Surplus .Jn 5,000.00 Interest. Discount, etc. . 2,966.29 Demand D’p’ts $190.803J8 Demand CtTs s26o < Bß®B 451.684.94 Total Liabilities Jy... .$504,651.23 State of Indiana, f Kosciusko County, I*: I. W. M. Self. Collier of the State | Bank of Syracuse/ do solemnly swear that the above statement is true. yf. M. SELF. Cashier. Subscribecyand sworn to before me this sth d:yT of July. 1923. Warren zT. Colwell, Notary Public ' (SEAL) f My commission expires j Dec. 1«, 1935. |

| Jet White I 1 Groceteria i I . I Special Prices for Saturday I * 10 Bars P& G Naptha Soap 4£»C | , 10 Bars Kirk's Flake Soap 45C I | B Fete Naptha Soap, per bar ($C | I B Palm Olive Soap, per bar 7 c | j §B J*P RoMe ®®*P» 3 cakes for 25c a | B Sayinan’s Vegetable Wonder Soap, per eake .... 14c f I B Kirk's Cocoa Hardwater Castile, 3 for 25c | . Mason Fruit Jar Caps per dozen 25C a | Mason Fruit Jar Rings per dozen 0C t ' Mason Fruit Jar Rings 3 dozen for 25C z j Certo, per bottle 3OC | | Swansdown Flour 30C t | • f I £ Instant Swansdown 2SC * | Royal Baking Powder, IOC- 23c and 43C J | Hershey's Cocoa, j-lb can 19C | I Chef Coffee, per lb 42C | j Spring Hill Coffee, per lb 37c | I Burnley's High Grade Coffee, per lb 37c | j II Argo Starch, pound pkg. . 8C g j | Jot wmt6 Groceteria || -WK SELL FOR LESS- f ! t i

THE SYRACUSE JOURNAL

(PARAGRAPHIC BITS ABOUT HOME FOLKS Notes of the Week on the Com* ing and Going of People You Know. Miss Olga Beckman has gone to Ann Arbor, Mich., to attend the university. Mrs. John Fair of Chicago is here visiting with her sister, Mrs. D. L. Gibson. Madge Hughes of South Bend is here spending the week of the Fourth with Mr. and Mrs. John Sloan. Mr. and Mrs. Fieldon Sharp and son spent Sunday in Goshen as guests of her parents, Mr, and Mrs. Clintop Baker. Mr. and Mrs. Oscar Masters and daughter Mary Jean of Benton spent Sunday afternoon here with Mrs. Frank Younce. Merle Snyder of Chicago spent Friday here visiting with his sister, Mrs. Melvin Dillon, and his aunt, Mrs. G. D. Bartholomew. Mr. and Mrs. Otto Wundrach of Maywood, Illinois, w’ere visiting at the Wm. Beckman and the Elmer Strieby homes over Sunday. Mrs. Nancy Nine attended a reunion of the Tom and Nine families at the home of Mr. and Mrs. Auers, near Leesburg, on Sunday. Elmer Grissamer of Epping, North Dakota, is here visiting his mother, Mrs. George Grissamer, and other friends and relatives. Mrs. Katherine Eckert and Mrs. Guy Sprague of Fort Wayne are spending the week end at the Sprague summer home in Brunjes Park. Miss Alice Orebaugh of Elkhart came on Tuesday and visited until Saturday here with her sisters, Mrs. /H. R. Lookabill and Mrs. Buettner. Mr. and Mrs. John Stiffler of near Winipeg, Canada, are here visiting in the home of Mr. and Mrs. Chas. Johnson, and other relatives and friends. The Misses M. M. Laidig and T. Parker were in Syracuse on Friday afternoon on business. They are spending the summer in Pickwick Park. Guy Bushong, who has been attending Indiana Central College at Indianapolis, is here spending his vacation with' his parents, Mr. and Mrs. Frank Bushong. Mr. and Mrs. J. Elbert Morris and three children of Elkhart drove over Sunday and spent the ’ day with the Preston H. Miles family and Mrs. Elizabeth Akers. Mr. and Mrs. Garfield Walker and daughters, Margaret and Martha, of Indianapolis came on Saturday and are spending their vacation in the home of Mrs. i Walker’s parents, Mr. and Mrs. j Levi Kitson. They are also spending some time at the lake.

Mr. and Mrs. A. A. Beach made a business trip to Millersburg and Goshen Monday afternoon. Mr. C. I* Goodspeed of Chicago came Monday to spend several days with the Fred Hinderer family. Frederick Clayton spent the week end with his grandparents, Mr. and Mrs. D. L. Clayton south of Syracuse. Walter Stiffler returned to Sylvania, Ohio, Sunday where he is employed by the Sandusky Cement Co. Mr. and Mrs. Hugh Kitson of Vickeryville, Mich., came on Sunday and visited here until after the Fourth with his parents, Mr. and Mrs. Levi Kitson, and other relatives. Mr. and Mrs. Frank Woods and Mr. and Mrs. Chester Woods of Converse came on Sunday and visited here until Tuesday in the home of their sister, Mrs. Ida Akers. Mr. and Mrs. Sheldon Harkless and Mr. and Mrs. George Sarjent attended the Sarjent reunion at Heaton Lake on Sunday. There were about seventytwo relatives present. Rev. and Mrs. H. R. Lookabill and daughter, Lillian Eudora, of Kokomo motored up here on Monday morning and visited until after the Fourth in the home of her sister, Mrs. H. A. Buettner. Mrs. Baughman and daughter Evelyn, Mrs. Tuttle and Mrs. Foster of Adolph Lake, Mrs. Rousch of Wilmot, and Mrs. Purtle of St. Louis called on Mrs. Harry Culler and Mrs. Hobbs on Friday afternoon. Mr. and Mrs. Harry Groves of Oshkosh, Wis., are here visiting with her parents, Mr. and Mrs. Tom Hapner, and also with his mother, Mrs. Chas. Rentfrow. Mr. Groves is a draftsman and is also engaged in teaching. Mrs. Rilla Clem Puterbaugh of Elkhart spent the week end in this city visiting in the home of Mr. and Mrs. John Schick, and other old friends here. She was accompanied here by Mrs. Pressler, who is visiting her parents, Mr. and Mrs. Schick. Rev. and Mrs. B. F. Hornaday of Howe, Ind., were, in town last, Thursday and called at the home of Mr. and Mrs. J. P. Dolan. Mr. Hornaday held revival meetings here in the Methodist church several years ago, and will be well remembered. Mrs. J. M. Sargent was called to Pittsburgh, Penn., on Saturday by the serious illness of her sister, Miss Bessie Ballard, but before Mrs. Sargent reached her bedside she had passed away. The remains were brought to Terre Haute for interment Mr. and Mrs. Chas. Kitch of Plymouth came on Friday and visited here until Sunday in the home of her parents, Mr. and Mrs. 0. L. Cleveland. Mrs. Cleveland celebrated her birthday anniversary on Saturday and her entire family of children were present at the occasion.

□□□□□□□□□□□□□□□□□□□□□□□□□□□uuuuuuuuuuuuu n □ g 8 Just Received □ o I —l b from New York § □ “ H n n □ D □ New Dresses LJ | A beautiful line of Canton Crepe n II Dresses, for young and old, in all □ colors. Priced at $15.75, $16.75, □ and $24.75. ■ R □ y □ New Hats . 8 l-J § The latest styles in new white § □ Hats are here. Priced from $1.98 § 8 to $4.98. □ H □ , . 8 f THE ROYAL STORE | Syracuse, Indiana L o

Mrs. Susan Nicolai is spending several weeks at her farm home the guest of her son, Charles Nicolai and family. Mr. and Mrs. Verd Shaffer and daughter Marjorie of Millersburg and two grandchildren, Wauneta and Lester Masters of Benton, spent Sunday here with Mrs. Shaffer’s mother, Mrs. Frank Younce. o FOR SALE—The Journal office has the following signs on hand at all times: “For Rent” and “For Sale.” The size is 7xll inches, good cardboard attract-! ively printed; price 10c each. |

I JEFFERSON J THEATRE GOSHEN “Northern Indiana’s Most Beautiful Theatre” SUNDAY AND MONDAY, JULY Sth AND 9th || Oliver Morosco’s Best Beloved Story, «• “Slippy McGee” TUFX, WED., THURS., JULY 10th*. 11th, 12th 11 !• H. A. Snow’s I; || "Huntino Big Game in flinca" || BIGGER THAN A CIRCUS—BRING THE CHILDREN U —FRIDAY AND SATURDAY, JULY 13th and 14th— H Jaimes Oliver Curwood’s Famous Story, “Broken Silence” ii —SDN, MON, TUE&r-JULY 15th, Kith and 17th— ;i HAROLD LLOYD !• In His Latest Feature Comedy (7 Reels) ;[ “Safety Last” S —WED., THURS., FRI.-4ULY 18th, 19th and 20th— ;! I Rupert Hughes’ Sensational Exposure of Hollywood, ;! “Souls For Sale” And a Special Added Attraction, <; “See Yourself in Pictures taken at Lake Wawasee of Everybody ;! within the Camera-Man’s range (taring Sunday, July 15. ;» LOOK FOR THE CAMERA MAN j! AND SEE YOURSELF IN THE !l MOVIES— !; to be shown as. an added attraction at the Jefferson ;! Theatre, Goshen, on July 18th, 19th and 20th»

IN OUR CHURCHES Evangelical Church On Saturday evening, July 7, Rev. J. W. Metzner will be with us to conduct the first Quarterly Conference of this year. Services at 7:30, followed by the conference. Sunday School 9:45 a. m. Morning Worship.... 11:00 a. m. Rev. Metzner will preach and have charge of the communion service. 4 Union service Sunday evening ! at the Lutheran church. W. J. Dauner, Pastor.