The Bismarck Tribune Newspaper, June 21, 1919, Page 7

> ‘ ve ss 3 bby ie ) j . . ; \ . 4 ETN agen) a Sei tui ag unirqiii| MANAGER diductaauay) umnutnar MMII PORERAN WANTED. wi CLERKS fyi quntiint MOM Nee an MN er tev BLAcKShimy| MATCH = Gt mao hi TT WEAVE! NTI Oe un In His Mind This itl Be’ Logical. Sears ae) Af ta ATH Mt An me Uy i iu Bain en mK ie Sn sani : CoM HL nual Can ere ail i If TEAM: Minit in CA esd Classified Advertising Rates. Terms Strictly Cash—No copy without remittance attached ‘will be inserted, First insertion, 85 cents; additional insertions without change of copy, 15 Ceata, Advertisesents containing more than 26 words will be charged at the tate of two cents a word for each ‘additional word, Copy for Classified Advertisements, to insure proper insertion, must be in tide office before 10 a, m. ‘of day: of ‘publication. i HELP WANTED—MALE ‘WANTED—Young moan pone young, lady: at Cowan's Dri -17-6t FOR SALE OR RENT— HOUSES AND FLATS WANTED—Portel Sanaa Barbar =a 6-20-3t BUTCHER WANTED-—at once. Good all ‘round man; good wages, good com- , munity, up-to-date shop. wire or write Fred Kist, Linton, N. D $-16-1w WANTED— iters; also one lather. agrees J. Hi, Schloemer, eredenay 6-13-11) MEN AND WOMEN learn barber trade and earn $25-a week up. Positions guar- nteed. Few weeks completes by our ethod, Constant practice. Low sum- fer rates. Write for catalog. Moler Barber college, eae Nicollet Ave., Min- Heapolis, Est. 1893. 6-7-1m EN OR WOMEN ‘WANTED—Salary 24 full time, 50c an hour ‘spare time, gelling guaranteed hosiery to wearer, Xperience unnecessary, Guaranteed Milis, Norristown, Pa, 6-5-2m Wyite Los Angeles ‘Y' M. C, A. Auto school... Get started"right. 5-31-1mo, co | FOR SALE CHEAP Five room ‘house with full basement-and furnace, maple floors, east front, Also good barn, 312 15th St. 6-16-1wk. ¢ — > ‘FOR SALE—Nine room modern_ house. Centrally located. Write 688 Tribune. 6-21-3t FOR SALE—Modern five room house and bath. ‘Hardwood finish, close-in. “Part eash. Write 678 Tribune. “6-20-1wk FOR ‘RENT—Four room, cottage, good shade, two blocks ‘from ‘postoffiée; FXso unfurnished, modern rooms for light housekeeping. Inquire 622 pe ale a PERSONAL MAKE YOUR OWN BEBR—With, or without alcohcl, You ‘can make ‘ten gallons with out "Special Home” outfit; complete with malt,-:hops -and -acces- sories, including formulas, for . $3.50. Satisfaction guaranteed or money re- funded. Malt ‘Products ‘Co., Box, 1466, . Butte, Mont. _6-21-1t ‘AGENTS AGENTS WANTED—CLarge mantfac- turer wants representatives to ‘sell shirts, underwear, -hosiery, | dresses, . Waists, skirts, direct to home. Write ‘for free samples, Madison Mills, 503 Broadway, New. York City. G-21-1t CASH IN ON BONE, DRY BILL—Make $6 a day easy. Will show you how with our_ Concentrated .Pure Fruit Drinks. Wanted everywhere. Small package—just add water. Here’s the chance of a lifetime, Grab your terri- tory. Write quick. ‘American ‘Product: Co., 222 ‘Afierican Bidg., Giicinnad: -21-1t AGENTS are coining money selling Cramer: Fibre Brooms. Outlast four Retail $1.50. 78¢ sample Also Sanitary Brushes. Wichita, Kan: corn brooms. Post paid. Cramer Mfg. Co., SALESMAN SALESMAN WANTED—First-class aloth- ing and furnishing © goods salesman “dt FOR!RENT—Six room house bath, Tent, ; hardwood ‘floors, new, $25.00, E, HELP WANTED—FEMALE | _Yotng Real Satiate' Ge; fe Bett WANTED—Girl general housework. | FOR RENT—An igh Phone 459K, 205 W. Thayer St. 6-21-3t can be rented. nt : oe iaerties, na WANTED —Ginl or woman ‘to assist with 803 Seventh ‘St. 5+12-t¢ jouse work and care of two children, | FOR RENT—Five-room house, Will rent ath Ave B. Phone 685R. 6-21-1t| reasonable, Phone 141. 5-20-tf ‘ANTED—lsxperienced bookkeeper, at) READ THIS—T own several modern bun- Dakota Tire Co. $-17-1w |“ galows ‘which I ‘am Offering for ‘sale at |’ WANTED — Experienced stenographer. | feal bargains, Two of these dre ‘new, Apply Box 593. 6-16-1w Revers rooms and béth apd sre" on, pro WANTED—Girl for general housework. Ap-| Posed car line, two, blocks from high ply 4 Ave A West, or ‘phone 72. dleti| fcliool. | If Interested, write 072, care AUTOMOBILES—MOTORCYCLES poe SALE CHEAP—One Ford worm ear drive truck in first class condition. ‘all at 9th St. Phone 818 R. C. OR land radiator, Ford-Schmmier body and part for Hupp 20. & Son, 714 Thayer. FOR SALE—Oak condition., Phone 482X. 6-19. FOR SALE—Saxon Roadster, 1917 Mod electrically equipped, Just overhauled, Rudolph Bock, Cowan Drug Store. 6-16-1w FOR SALE—One 7-passenger Studebaker ear, also two Ford touring cars. In- quire Roy Neff. Phone 288L. 6-18-5t LOR SALE—1919 Oldsmobile, for a quick deal to be sold at once for $1325, Extra | new tires included. Write No. 659 ‘Tribune. 6-2-tf FOR SALE—Cheap; model 10 Buick. would make a good truck, Call at 220 Main St., or phone 669. 6-18-1wk ROOMS FOR RENT ROOM FOR Re ier peas modern. In- quire at 916 6-2 and Six in first ‘class 21-3t! LANDS WANTED to hear from owner of ‘farm for sale, C, C. Shepard, Minneapolis, __Minn. G-21-1t WANTED to hear from owner of unim- proved land for sale. State cash price, full particular D, F, Bush, inrie- apolis, Minn. + 6-21-1t EOR: Bal Relinquishments, 320 acres and res, This is a snap, qaeer Reaity sen Killdeer, N.'D. FOR SALE—Southeast quarter te SHE east quarter, section 10, township 138, range 80, near Fort Lincoln, Call Peter F. Wilcox, Van Horn hotel, 6-7-2w FARM FOR SALE—North Wisconsin farm, 180 acres; $11,000, on terms: house, barns, stock, all equipment. in uncommonly good condition; selling. for family reason. For details’ write John Mitchell, Eagle River, Wis. 6-18-2wks POSITIONS WANTED WANTED—Man cook wants position a» cook in hotel or restaurant. Experi- enced, Address 670, Tribune. -1m MISCELLANEOUS FOR RENT— a Tunes room with bath: $10 per month, and 2. unfur- nished rooms. Close in on 3rd_ St. Write 677 care Tribune 6-20-31 FOR RENT—Rooms over Knowles Jew- elry store. Apply at F. BOARD AND ROOM at 690 th St, 6-21-3t bedroom and FOR RENT by July ist, parlor, in modern house. Woulg rent together or separate. Alex McKenzie home, 722 5th St. Phone 485X._6-21-tf FOR RENT—Large furnished “room for light housekeeping. Phone 404K oe T94, Geo. W. ‘Little. 6-6-tf BIGGEST BARGAINS Before doing business with a man you like to be sure'that he® knows ‘pis business and also th: (give you-a sezare deal, have sold hundreds of home buy- ‘ers, the nast ‘few years, both farm Jands and Bismarck property, we have yet to have the first one come to us and say he did not get fuli value for ‘his smoney. We would like to help -you .get your home. oe a F. E. YOUNG REAL ESTATE CO. Phones———— H.-F. O’Hare, 78M. ‘FF. E. Hedden, 0 F. E, Young, 78R, A, Knowles iti |* FOR SALE—Good kindling, | $1.50 per load if called ‘for. Call at Bismarck Tribune. * FOR SALE—Almost new plano at. bi bargain. Knowles . Jewelry Store. = 6-21-tf FOR SALE—Moving outfit; trucks, check serews, concluded with everything com- plete. Call at 218 So. lith or phone 462K, octane IF YOU WANT TO SELL or exchange your property, write John J. Black, Dak. St., Chippen Falls, we 2: FOR SALE—Dry stove wood. Phone 8187 Teint KITCHEN CABINET, chairs,. bed furniture, library table. Cali pera @: 512 Avenue A. Phorie“460R. 3-19-3 FOR SALE—Household furniture for ae 608 2nd St. Phone-510-R. 6-16-16") FOR SALE—Young een ‘Hares froi Pedigreed stock, $2.00. 3 for, $5.' Mrs, ‘Robert. Betzina, *Pictialer ND. .6-18-1Wk FOR SALE—Dry wood delivered any- where in the city, $3.00 per cord. Phone 730) 6-18-lwk FOR SALE—Furniture for 12. rooms. Want to sell all together; price reason- able. Call 311 4th St., 18-1wk FOR RENT—Furnished hotel, cheap, at Coleharbor, N. D.; 25x60 ft., two story. 11 bed rooms, ‘steam reat and electric, light; good- opening. Address M. or phone 627R. | once, 8. B. Bergeson & Son, 6-17-5t MAN WANTED T GROCERIES SELLING NIXPERI SARY One of World's largest Grocers, (Capi- tal over $1,000,000.00) :wants ambitious man in this locality to sell direct to con- sumer nationally known brand of grocer- ___. CHIROPRACTORS \BUSINESS CHANGES—Millions are sut- ' PERE~HERE! uit’ THAT OLD HORNE The Valley City Bank Deal; All With Sanction and Full Knowledge of League—Hastings | ‘ontinued’ from Page Six.) at Hatton’ and they have purchased other stock. Q. Well; of course, if the bank fail- éd, tliey would ‘be liable for double the amount of the stock. A. Yet, they would be good for it. Q. Olson sdid that Grady would not take the Consumers’ Stores Company notes until. he endorsed them persen- ally. .A. Grady. would not? Grady: and Bill Lemke. Q. Yes. ‘A.'I don’t know any- thing about that. Grady ‘has. nev- er done any business with us last yedr, You see, up until this year, Grady. always loaned us all the maney he had-to loan. | borrowed as high as $125,000 in the summer at one’ time,, but he refused to | SSS coffees, “spices, ete.’ Big line, prints, easy si jes, teas, stock foods, oils, ales, Values beat: any ‘competition, n big money.’ No’ ‘experience or capital quired, Complete’ sample outfit and fre selling instructions start you. Long: es- tablished . rellable hot Write“ today. 362 W. John Sexton & Co, Chicago, ‘Tl: ‘ae Bt WITHOUT QUESTION the best sellin specialty: on the. market today i U. S. protected article exclusi ed, and .controlled by us, Salesme clear upward of '$30.00 per day, Act now before someone else will get ahead of Ilinois 'S 6 you, ~Protected exclusive territory. Jerome “Laadt, “Pres, 8 S. Dearborn St., Chicago, Ill G-21-1t SALESMEN—New Carburetor for Ford ing’ part, ‘in- Cars. Simple not a mo: guaranteed stalled in thirty minute to’ double your. mileage and rt in Zero weather: without heating or »ri ing.’ 15 days. FREE t Our St. » Louis man.sold'1400 in 6 months,. Salt Lake City man made $1200 in one week. Write -U. & J. Carburetor Co., 505 W. Jackson ‘Blvd., 6-21-1t BSALESMAN—Salesman experience _un- necéssary; new BrtoNa. proposition, staple line to general retail trade “in North’ Dakota. $35.00 w ekly advance to producers “for exper The Con- tinental . Jewelry Co., 123, 25 Conti- nental Bidg.,. Clevelund, 0." _6-21-1t WANTHD—Salesmen with car to call on auto owners in your county;'book orders for European puncture-proof tir kind that helped win the -war seller—big sales; exclusive contract; re- peat -orders quickly establishes per- manent income. Kisse Tire Corp., 20 ‘B, Jackson Blvd., Chicago, Ml, .6-21-1t BUSINESS OPPORTUNITIES RANGER CENTRAD — Capitalization $200,000, Drilling. Brooks. Survey, North -Perkins, 11,000 ‘barrel which came in Tuesday. $2 Lee ‘Benham, Licensed Broker. Texas. 6-21-1t yards Gusher share. El_Paso, fering with rheumatism, Most import- ant, discayery of the age. A herb that , actually drives the most stubhorn case of rheumatism entirely out of the sys tem. People write us and say they are astounted ‘at the results, especially on the kidneys. Just think of the money making possibilities, Representatives wanted. $1.12 pound prepaid, 10 pounds 6 express paid, Rheumatism Herb Co,, Venice, California, 28-tt WANTED TO RENT E. E. HOARD, D. C., PH.C. Licensed Doctor of Chiropractle g Phone ‘327 119 Fourth St. ‘Bamarck, 'N. ‘DOINGS OF: THE DUFFS © Olivia Would ‘Give Anything for It But— :OW, TOM, ISH" “THIS “A ‘PEACH: oF an ANGORA car? Fuglie,_Coleharbor, N.-D. 6-18-10¢' OFFICE FURNITURE FOR SALE—One large roll top desk, one large. ‘oak tabie, several chairs and other smali articles. If interested write 676 care; Tribune. 6-18-4t} FOR SALE—2% horse power D. C. motor] $75. Folsom Jewelry store. 6-6-tf WANT TO BUY a second hand ayer wplantiin g09d Stare ag rhea 3 | Pettibone, -N. Dye WASN'T THAT A WONDERFUL CAT, “TOM- “HONESTIN ‘?D GIVE ANYTHING IN THE WoRLD FoR THAT CAT— Mee “THe Few WANTS To Seu 17 WANTED—Two rooms for light_house- Keeping. Information, Kupitz ie ee 6-1w --LOST‘AND FOUND _* FOUND—Rosary with initial W. eraved. Call at Tribune, 6-18- en- wk THINK FOR A MINUTE THAT THE NEIGHBORS WILL STAND FoR MAT 2 2 SToP PAGE 7: BLOWING Do You WELL ~< CANT TH: NEIGHBORS loan us any money last spring, and he had ‘plenty of money, be cause Bill Lemke had sued him on some company, land invest- ment company, they ‘had ‘and Bill was attorney for plaintiff and sued ‘him and stood a chance of getting a judgment, and | guess he would; and they ‘put it up to me that they had plenty of ‘mnon- ey to loan and would loan’ if I could get them a release; you see | could nét'to that:hecause it was a matter of profession ethics with Bill, BUT BILL DID RELEASE HIM HIMSELF ON THE CASE AND HAD .IT DISMISSED 'FOR PREJUDICE, consequently they figured it'was ‘a put Up job dn my part, but it was not. Q. Do you consider it good banking ‘to have one corporation owning stock In a lot’ of state banks? A. Well, that is a ques- tion that | would say yes and no to, according to the corporation, what it represents and what it Is organized for, and what benefits are derived from ‘so ‘doihg. . THE CAPITAL ‘STOCK OF THE CONSUMERS’ STORE IS $10,- 000? A, $25,000. , Q. Have they stock in. any other bank, aside from Hatton and his stock? A. Well, no, they have not; no, they have not; they have pure ed stock at times, but it has been handled. Q. What we are interested in is, we want to be sure about 'the total ability, and ‘we are naturally inter- ested to know, if anything went wrong, whether there would be funds to pay. A. They would be ‘absolutely good. THEY HAVE ASSETS AT THE PRESENT TIME OF ABOUT $1,500,000 OF WHICH $1,250,000 IS GOOD AND COLLECTIBLE, SO I SHOULD THINK THEY.OUGHT TO BE GOOD FOR A LITTLE ‘BANK STOCK. Just Newspaper Talk. Q. Now, did the organization ‘take Place there? Did anybody, with your authority or without your authority either way any one down there ‘at all tell those farmers down there, as soon as a state bank was organized, they would get all the money they wanted at two per cent, and they could loan it out at eight per cent. A. No, sim- ply newspaper talk. Q. Olson said the report was around there? A. Oh, sure, I saw it in the Fargo Forum. Q. That was afterwards? A. No. Q. OLSON SAID THAT THE O1H- ER DAY. A. HE GETS EASILY TIED UP ON THAT STUFF. Q. HE IS PRESIDENT OF THE BANK? A. YES, I KNOW Wt 8 BUT THERE IS GOING TO RE AN ACTIVE MAN HANDLE THA BANK. Q. As far as you know, there was nothing of that sort at all? A. No, it is a damn lie. Just a Little Corporation, Q. Is the Kimball-!lastings Com- pany interested at all? Where do caey come in? A.'It is a little ccrporation Porter Kimbal! and Box and I had. We have let it lapse and we are winding it up. Q. Is there any bank stock in any By, Allman IT-BELONGS TO “THe SODA CLERIX DOWN AT “THE DRUG STORE - HELLO, Pussy, Puss}, Puss WE DoES WANT To SeLt IT, BuT THE CHUMP WANTS A DOLLAR. } BLOW ON IT AFTER GONE T'BED? _BY BLOSSER HAVE corporation you are connected with? A. No. Q. No individual named here? A. No. Q. You: mean neither the Federal Development : Company or the Ki ball-Hastings Company or the sumers Stores? A. The Kimball De. velopment Company, 1 think, owns shares of stock in the Peoples Bank of Grand Forks, 1 am having that transferred, but the Consumers, Stores Company is absolutely good. Nobody can question it at all. have plenty of assets to handle any thing that we undertake in that lin |because they have very few liabili- ties and they have big assets, Why He's in Banking. Q. As a general proposition, you would not figure it good banking for a corporation to own capital stock? A. Not in a general way. You probably understand my prin- ciples of being in banking. | never went into a bank except to be of service in the political ‘or- ganization | am in. ‘It is my sole object of being in a bank, and if 1 could turn it over ‘tomorrow | would be tickled to death to go back to my = regular work. | handte It because we could not get anybody else to do it, it was of such a ‘confidential ‘nature. Through ‘the increased prestige we get by having several banks that are known 'to ‘be ‘friendly to the Nonpartisan ‘league, We have been able to form them a good deal faster than the average man. Q. About this house deal at Valley City, was that part of your assets no other real estate. By Mr. Langer: Q. Did Bill pay the cash or give his note?. A. He gave his note for ‘the time being. | think he has a good deal of money com- ing in from the Equity Exchange. He loaned me a ‘total of $37,500 for the league. | have paid it back to him, Other League Banks. Q. Has the Federal Development Company organized any other banks? A Yes, they have organized the Casselton Bank and the Knox Bank. Q. Under the same procedure? A. The League Bank down ‘there and the Knox Bank. Q. What has the Kimball Company organized. A. The Grand Forks Bank, that is all. By reports of commis- sions I made, they look mighty big to the outsider. They consider we do the work'in a hurry, dnd it is particu- larly the skill we have in those lines. As I told you before I conduct all the banking activ: and all the fi- nancial activities connected with the league and th tores. I conduct them as an individual enterprise, and all without expense to the league, but the store on my own part, which I have to make up through legitimate commissions that | can make in bank- ing chattels. 1 presume if I took a trial balance on What I make on that, it would be a very small amount, prob- ably less than five thousand. Q. That deal at Valley City? A. Al- together, all my activities ‘for the past year. the different banks I have organized. What Jack Made. Q. At Valley City there was $20.000 in one deal. A. It looks like it. 1 did not make $15,000. | did not make $12,009, but | am not going out and telling everybody what | made on it. Take an in- stance down here at Leith. 1 1 will show you how I stand back of ‘them.. At Leith the first man they put in for cashier stole $3, 500, and there was only one al- ternative. | took it up and gave Mr. Waters here his funds. We could ‘have put him in the peni- tentiary-——they did not’ want to swear out the warrant down there —let the matter run—gave him a check for it—that was a loss out of my pocket. No Bonds Required. Q. WAS HE UNDER FONDS? A. HE HAD NOT HAD TIME TO BE BONDED. ‘HE WAS. PUT IN. AS TEMPORARY RELIEF MAN AND HE SIGNED ‘UP ‘$3,300 WORTH OF DRAFTS AND DID NOT MAKE ANY RECORD OF THEM. There, tas summer, when I was in hot water, I hired a fellow in Fargo. He came to me well recommended but stole a certificate of deposit. 1 turned over A.C. D. Svand took a-receipt for it and didn’t want to use it for more than a ‘week or so. He took $9,000 with him and went west. That is another thing I have to lose. Doesn't Cost 10 Per Cent. QO. Does it take ten per cent to or ganize those ‘banks? A. No, :t does not take it, usually taey are williag to nay it. Itake it, all the banks in the United States of any t doesn ® take ten per cent. Tne Pankers : tional of Minneapotis is owned by bankers all over the northwest, ‘and they paid fifteen per cent to have it promoted, and you don't hear any bankers kick on it, the only fellow who is kicking because I make a little money is the banker who goes around and throws it into the farmers. The farmers are not sore about it. When they find out they can sell their stock they do not want to sell it. It is the They 5 Q. Ia mnot a banker, but I want to other fellow who tells then the stock ts no good. Q. What would it cost to organize a bank. A. lt depends on wat you run agansit it, 1 uve got no excuses to muke lor my commissions at all. That is the usual way of promotion Where il is put ucross by promot- ers, Wilerever it is done. Q. 1 cannot quite agree with you en- tirery on that supject. A. Well, of course, that {is just, a matter 1 opinion, Mr, Langer. Q.Now it says here, noue of the of- ficers and directors are approved and none of the officers anu employees are bonded. | thougut Mr. Waters, we passed a rule a wuile ago that every vasluer should have a ten thousand dollar bond. A. He has.go. to have a forty thousand doilar bond, Q@. 1 see—that was his old bond ia the national bank. A. He -has ‘still gol the vond OF tne nauonal bank you see, bul that is going to be canceiled and that wil be a forty thousand dol- lar ond, twenty per cent of the capital stock, A Week has not transpired yet—could not very well bond him until we hnow we were going to need the bond. The Building Deal. Q. You raised tue building from $27,000 to $44,000? A, Raised the vuilding—more cash, that is all. Q. Does that men that you bought the puilding for $42,000 and tgured it in at $68,000” A. We figured it in at $69,000, Q. And sold it?) A. We figured that raise in buying the assets from them. Understand, this building cost them, according to their figures, about $85,000, and they have reduced it from i time, because they have made big dividends, and they have reduced their building right along. Cannot Explain. know whether you got the building at $42,000 and sold it at $69,000? “A. 1 cannot answer, | cannot explain it. Q. We want to know whether you bought it at $42,000 and sold it ‘at $69,000, AY No, we bought it at $69,- 000, and besides, this bank, when we took it over, has $873,000 deposits, and every jsensible bankdr is -per- feétly willing to-pay a bonus of five per cent on deposits. It would not figure in at all. : By Mr. Waters: Q. Five per cent for good will? A. That is the very least you can get it for anywhere. Q. Of course, it is too deep for me as to Why a natidnal bank should carry a building at $42,090 and a state bank at $69,000. A. When a suit of clothes is new you pay $60 for it, am I come along and the suit fits me ant you don’t neéd it. It has a second hand value of $50.00, it is really worth -$60.00. The Consumers Stores. By Mr. Ha Q. | want to know where the down there? A. No. Consumers Store géts the money Q. How did you handle it? A. We} ‘to invest in banking. What ace took the house and Mr. Bill Olson the incomes and profits of the bought i Consumers Store, for instance? A. Q. At same price? A. Yes. They have no profits. ‘Tiiey have ‘By Mr. Waters: accumuldted assets they get Q. You ure not carrying that-as| ‘through selling — memberships. other real estate? A. No, they have| They represent assets through cash or other securities that the board of directors want to invest in. “1 would have to go into detail and tell you how the Consumers Stores was organized and its. pur- pose and plan and everything else. About the only ‘fact that | can say is they have the assets they have it within the power of the board of directors to do any thing with the assets they can do that is reasonable and legitimate, amenable to nobody. If they want to go and buy a building or a cou- ple of banks, they havea perfect right to do it. By Mr, Langer: Q. Providing they comply with the law? A, Just so they comply with the law. There is nothing in the law which prohibits a bank trom owning bank stock the same as an individual. By Mr. Hall: : Q. Now, when wou get a member- ship from the farmer who buys an in- terest or a membership in your Unit- ed Stores Company, you contract with him to establish a store at @ certain place, don’t you? A. Yes. Q. And this hundred dollars that he. pays for a membership fee—that is reckoned to be——? A. That be comes an asset. How a Store Is Run. : Q. To that particular store or to the organization as a whole? A. To the organization as a whole. We go out here in a com- munity we organize a store with probably ‘five’ hundred members, It is probably five thousand dol- lars—it costs only five thousand dollars to start a store and keep it going. We can raise enough money in a community to start five stores. We are enabled to thake long time purchases at low rates. Our saving alone by pay ing cash amounts to two percent for ten days. That alone is a sav- ing. We saved on discounts alone last year almost seven thousand dollars by being able to pay cash, with a discount. A lot of the goods we bought run up as high as six or eight per cent for ten days or thirty days. Q. It does not mean that when @ hundred farmers in a little neighbor- hood subscribe one hundred dollars apiece, that they are going to have all that money invested in a store ia that neighborhood? A. Oh, no. | Where the Money Goes. Q. They establish a little store at that place, but a good share of that money goes into the jackpot for the general use of the system. A.. Yes, even for an educational fund or anything like that, but at no time can any profits ever leave that little cornoration. The profits are limited to ten per cent on the capital ‘stock issued, so very Yittle can get out in the form of profits, By Mr. Langer: Q. That would not mean anything especially, A. Suppose I gave you that million and a haif dollars, and with the chance that million and @ half dollars would give you, you pur- chased a head and put out the rest at six per cent, you people could make tremendous dividends every year. We are liimted, you see, to the ten per cent on the capital stock that is issued, and I think there is only ten shares issued—there is just enough to comply with the law—so you see the most dividends that ever can be paid by the store is a hundred dollars a year. Only the people who are devoting all their time to it have been drawing salaries. In my work I do not even get my expenses.