The Bismarck Tribune Newspaper, February 7, 1921, Page 3

cp y f ij Di WILLIAMS. SEES f MONDAY, FEBRUARY 7, 1921 PAGE THREE PROSPERITY ERA BEFORE COUNTRY Currency. Comptroller Optimis- tic Over Present Financial Situation ‘ READJUSTMENTS NEEDED Prices-‘Must Be Changed on Steel Products and Coal, He Declares Washington, eb, 7.—The country is now in many respects on a-sounder basis economically than it has been for years, John Skelton Williams, comptroller of the currency, declara in what he said was his last and sev- enth annual report. “Deflation has come and prices in many basis commodities have return- ed to pre-war devel. It now remains for the middleman to adjust his prof- its to the new prices before the ulti- mate consumer will receive the bene- fit, : Must Be Readjusted, “Labor,” he said, “must soon de- termine whether idleness {s ferable to a lower wage scale which takes into consideration the new living costs. operate unless they can manufacture and sell at prices the public can afford to pay, It is better for manufacturers to produce goods at cost or a narrow margin of profit than to close down. He suggested participation of labor in the profits. Predicts Prosperity. “When conditions abroad become more settled and stabilized and when at home much needed adjustments are effected, when the cost to the con- sumer of steel, and iron products, which are still quoted in twice the pre- war rates, and when the coal for which the government itself paid in recent monthggas much as four times the pre- war prices and other commodities now being kept up artificially or through monopoly control, then our country will ibe prepared to enter on a new and let us hope long continued period of prosperity, fase Weathar | Today’s Weather “ For twenty-four hours ending at noon, Feb. 7: * Temperature at 7 a. m- Highest yesterday .... Lowest. yesterday Lowest last night .. Precipitation ..... . Highest wind velocity.. , Forecast For North Dakota: Fair tonight and Tuesday; warmer tonight and ir the east portion Tuesday. fa 2k 10 10 . Trace + 6—W INDEPENDENTS FRAME PROGRAM FOR ASSEMBLY éContinued from Page One) er each election and to limit its op- eration, for the present, to complet ing the home building proje througt®ut the state, also the’ mill and elevator project at Grand, Forks and to give it as Well as the mill at) Drake a fair trial in harids of people who are in favor of the elevator bounds and home building assoc to carry through this program as well as reimburse the state for the appro- _ptiation made by the 16th legislative assembly for this_industrial program. as follows: Industrial Commission. . .$200,000.00 Home Building Association 100,00080 Mill and Elevator Associa- tion (cash in the mill and ¢ and elevator fund raised 117,000.00 by the mill tax «+ 117,000.00 North Dakota bonds. mill and elevator series..... North Dakota bonds home building scries To Restore Fun Provision -is also made for restort to the public treasurers the 000.00 and all other funds which have been put in the mail and elevator work and the Home Building assu- ciation. ‘ 10,000.05 5,000.60 4. A law to demand and re-enact | the Bank of North Dakota law. so as to establish a genuine rural credit system, patterned after, the South Da- kota rural credit law. provide for the sale of the $10,000,000.00 real estate bond series and out of the proceeds | replace the $2,906.069.00 of the pub-| lic funds that have been invested in thirty-year farm loans and reimburse the general fund for the unpaid part -of appropriations made for the esta listment of the bank ($100,000.00) an to provide for discontinuing the dis- acd positary functions of the Bank North Dakota and to adjust its pri ent relations with other bauks cordingly and do it as quickly as p' siLle and in the most satisfactory manner possible. Also to take such other steps as may be means of li- quidating balance of public funds that have been put in industries. 'Phis legislative program is said by Independents to be in harmony with the report made by “he committee to which was assigned the task of care- fully surveying the financial condi- tions throughout the country and then , reporting what in their judgment would need to be done in North Da- kota in order to, gct thé same consid- eration ag other states in the money markets of the country. Bills for these measures will proba- bly be introduced this week. Coming “In Old Kentucky” The picture that has broken all records. Mrs. Diana Agopeg Apear, appoint- ed honorary consul for Armenia, at Yokohama, is the first woman consul in the world. - The first woman's patriotic socie- ty, in America, the Society of Colonial Dames of America, was organized in New York City in 1890. = In Palestine the women make their tHe recent Wilde‘Herman fight in Lon: oth are necessary to cover 2 sct of wi own-stoves out of mud. ‘the factories cannot afford to! $1,185, | “WATCHWOMAN” iVauia raisroad iasn’t a watchman more efficient or careful than its “watchwoman,” Miss Isabel iMarchitello, She guards the dangerous grade crossings at East Pittsburg, Pa. She has been there a year and the crossing hasn't had an accident. She is shown leading a schoolgirl+across | the tracks, : Fight Over Revenue | Taxes and Tariff to Furnish I sues to Insurgents N. E. A. Stati Speefal.) Washington, Feb. '.—Many sena- | ors are of the opinion that consid- eration of revenue and tariff legista- | tion will extend beyond July 1, the time: Senator Penr predicted ii would be enacted in final form. Injconnection with this, a study of the vote in the senate on the packer | legislation is interesting. Those re publicans going with the democrats for the measure are in the main th: ;men who may be expected jn the nexi administration to show signs of re volt. | Whey-are depending revenue and tariff bill them with the be \ on both — ths s to furnish n iss , PEOPLE’ FORUM PREDICTS. HARD) SLEDDING, _ Editor Tribune: Ashland, Ohio, Feb. 3 Fort Scott, Kansa for }and while there 1 was by a reporter for the Tribune of that | y relative ‘-to-the Nonpartis league. In my poor weak way I e deavored to lend what assistance could to our old friend “Bill Langer,” who was in th te at that time. | It is my opinion that Arthur will | have an“‘uphill’ pull to get a foot- held in IK s the present | depression will y aid him; and Iam of the f r opinion thai tt will not be to disadvantage. | -L-Avas. in| some days interviewed | his T also spent some time in Sioux City. te that hit of Towa, the heen harde: cultural § nthe Union, The ports seeping into North Dakota ot | the bad conditions prevailing ‘in low. | were fully borne out by the “close. | up.” The “land craze" in lowa hit the state har nd upon that the “get- | schelnes finished the job. | ) She woman.” ; My trong and 1 are now vic-! iting our daughter in this city, and| | we will also visit my people in and! around Lisbon, Ohio. Respectfully ‘yours, H, A. ARMSTRONG. PRINCE AT FIGHT. | The Prince of Wales. seldom pasges| up a good fight—or a good cigar,! either, This snapshot was made at} } don. o one : i their popularity. many persons who \never possessed | kind of super-expert |'whose eye has been trained ‘through | years of practice to detect the slight- ' hand sticks. ~ GUT DIAMONDS Methods of Turning the Rough ‘ Stones Into Brilliants Ex- plained by Expert. played in Thig Country More Than Ever Before—Very Few Are Perféct. New York.—Diamonds”;as coveted gems and ornaments have lost none of Since the late war these brilliants are wearing them to- day, even though they.cost more than formerly Few persons realize the TAKES SKILL TO = WORLD WAR PUT PRICES UP |g | But They, Are Being Bought and Dig- skill it takes to cut and polish dia-: | monds for the market. “Diamonds as they are found in the rough state,” Herbert P. Whitlock, curator of the department of mineral- ogy at the Museum of Natural His- tory, said, “are not impressive, ‘They have none of the magical flashes of light which in the polished stone makes them unique among the noble family of gems. And ft Is here that a goodly part of the price of diamonds fs akcumulated. For the art of turn- ing a rough diamond into a polished brilliant is a jlong process requiring a superlative degree of skill, There is | uo better way to appreciate this than to follow the diamond from the mine to the Jeweler ahd see for ourselves Just what happens to It. “When' the diamonds are recovered from the mine they are not by any: means all of them clear and colorless, as a self-respecting diamond should be; indeed, only about 25 per cerit of the stones found are without some faint color, “So we-find that at the beginning of its travels the diamond is intro- duced to the sorter, ‘The sorter Is a on diamonds, est variations in color of diamonds | and to find flaws in the stones with an ease which is little less than un- canny. Sorting the Diamonds. “The first consideration in sorting diamonds is the adaptability of the stone for cutting. Let us assume that the stone whose travels we are fol- lowing is sorted into the grade known as ‘close goods,’ comprising flawless crystals from which fair-sized bril- liants can be cut, or, to use the trade term, ‘made’ These ysually have elght sides or facets triangular in pe. Next comes a re-sorting of the ‘close goods’ into eight grades, ranging from blue white, which com- prises the finest quality stones, to yel- low and brown, which are so badly off color as to be unfit for gems, “If our stone has passed the criti- cal test of the sorter and ts placed in one.of the higher grades, it is weighed, wrapped up in a parcel with others of its kind, a price per carat is assigned to it dnd it is sold to a diamond dealer and ultimately finds its way to the workshop of the dla- mond polisher. a highly skilled workman it is des- tined to be turned into a gem fit to grace beauty or opulence, “Most of this is done in Holland, and especially in Amsterdam, which, since the Fifteenth century, has been famous for this industry. “The surface irregilarities, together with any superficial flaws, are first split away from, the , stone. . . . Sometimes when the stone is large it is of advantage to-saw It into two or more pleces so as to save as much as possible of the weight in cut dia- taonds. “Bruiting” the Stones, “The rough shaping of the diamond is done through an operation called ‘bruiting,’ which consists of wearing away the corners by rubbing one stone against another. This was formerly a manual proce the two gliamonds be- | ing mounted on sticks held in either hand by the lapidary. But even in | the ancient and conservative art of diamond erftting some mechanical im- | provements have crept in, and now In most of the shops a rapidly turning spindle takes the place of one of the “Having rough-shaped our diamond, we now come to the finishing opera- tion, the producing of the facets which give brilliancy and sparkle to it and which i8 technically known as pol- ishing. The holder of the stone dur- ing the polishing consists of a small metal cup on a long stem which is called a dop, and much resembles a tulip. the dop and heated until soft. The diamond is then imbedded in the sol- er wéth a portion of the stone on which the desired facet is fo be cut placed Here at the hands of | A solder comjyosed of one part | | tin dmd three parts lead is placed in uppermost and almost completely sur- | rounded by the solder. “The dop is now fastened by means of its stem in a heavy iron arm called the- tongs, in such a position us to bring the position of the facet to be gut exactly undermost when it ts placed in contact with the polishing wheel or lap. The latter is made of soft ircn and turns at the rate of about 1,000 revolutions a minute. Sev- eral hours are required to cut one “facet, then the stone ts readjusted for another one, until all of the 58 little facets in whith lies the secret of its brilliancy are produced.” Professor Deniker of the Paris mu- seum, says clothing was first worn not to hide nakedness, but to call at- tention to it. From 75 to 200 square xards of airplane wings. ¢ has ‘NANCX ANDERSON British labor officials are expetted to approve the proposal that, little N: “Anderson of ‘London be made the “ward of the labor movement” ag a memorial to the work of her mother, the late Mrs. Mary Anderson, | British labor leader, better known ai rthur, LEAGUE MEMBERS COMMITTEE; HEAR- x GOES, ON, TAKE LOANS aur I Continued from page 1) instructed to refrain from taking from the institution any records that belong; authorized to allow of there, but w: the examination bank, “Under — instructions Industrial Commission | duce these records,” he said, “Have you these records with you?” “T have not.” “You didn’t pring them here’ to ‘produce betore ‘this committee?” No answers 4 “Are they in the court room,” “T don't now of any being in the court room.” When Mr, records in the from the Cathro again said he was going to follow the instructions of tne Industrial Commission, Mr, Murphy suggested that the committee take steps to cite Mr, Cathro before the house of representatives for contempt of the committee and of the house. This action was taken: After a recess A, Johannsen, direc- tor of audits, was called to the stand, He said that he checked the list in the Bishop, Brissman and Com- peny's report of deposits! in corre- spondents’ banks, on inquiry. “Will you produce it?” “{ dowt know if | can get it,” be replied. 7 & “Will you make an effort to get lg “Yes, 1 will.” é Want Rediscount List, He was also asked for a complete list of redigcounts ys of Dec, 31, 1926, He also was usked| for a detail as of Dec. 3, 1929, of the bills receivable past due, and not due, it being called to his attention that Mr. Cathro’s statement shows over $3,000,000 in this detail. He also was asked for a record of redepo as of Dec The December 3 trial balance for which he gked, according to Mr, ‘Cathro’s 1, shows $1,867,885 in items out for collection, he was in- -ftormed, and he was dsked to produce a duplicate of this. Mr, Murphy then delved’ into the “profits. gad earnings”: of the Bank of North Dakota. Mr, Johann statement of ed almos ely of interest p and inte ted’ on public funds, on question from counsel, qt was aided that it included interest on the $2,009,600 of bonds of the bank and on farm loan Deduce Manne It is the evident NEW PREMIER “that the gs con- oy OF Earnings. of intention the Thig is Raoul Peret, president of the French mber of deputies, who E font Millerand’s in- the new premier + that, the bank, until $5,000 in appraisal fees on hand. nnot’ pro- | “That isn't true.” he said. {have tried to show the witn Pick 0, the Pictures Striking G THE NEW ELTINGE Robert Morton Orchestral Pipe Organ Tonight and Tomorrow | Dustin Farnum Tn an extraordinary drania of two continents “Big Happiness” Tntrigue—Love—Big Business limpses of Parisian Night Life, Seductive Views of the Maje Tonight-Tomorrow “The Man from Nowhere’’ Is a thrilling, dariug-western feature, 1t has all the splendor of the real west. It is teeming with clean, wholesome gripping action, Areal star in a big story. See it tonight “at the BISMARCK —— THEATRE —— Perfect Ventilation ic Alps committee. from the questioning, to deduce the manner of the huge earn- ings reported by the Bank of North Dakota. It was brought’out again in December, paid 2 percent interest on public de- and réceived 4 percent from | correspondent banks. Mr, Johannsen’s called to an iteth attention showing was ahout He said this represented amounts paid by applicants. whose loans had not ben completed. He said an applicant’s appraisal fee was ‘fixed at $5 on the first $1,000 of loan, the total in any case not to exceed $25, The witness was asked why the | Bank of North Dakota refused to honor certain checks, and was asked to produce the order of the Industrial | Commission showing authority to do this. Questioned as to what investigation the Bank. of North Dakota made of a ‘bank before it made deposits Mr. | Johannsen said that the bank usually | consulted the state examiner, He said {he didn’t get statements from hanks, | necessarily, except their call state- | ments, and in some cases, he saifl, he | looked up the directors and officers | of the bank, and some banks, he said, which had good standing, were not inquired into at all, “About what proportion of these banks were investigated as to their yeszources before redeposits were made,” he was asked. “That ig hard to say,” the witness replied. “Did you make any inquiry as to the amount of capitai and surplus” he was asked. Principle of Redeposits. “There were many things taken in- to consideration, the amount originat- ing in the community, the needs of the banks, the community, ete.” “Then the greater need of the bank for, money the more it got?” counsel asked. The witness replied tit the prin- ciple of making deposits depended en- tirely upon the community. The witness said that _ redeposits were carried by banks ‘on ledgers. | “Do you know that national banks | require them to he carried individu- ally as bills payable and not as de- posits?” the witness was asked, and he replied that he didn’t reply. The witness said that the report on profits was hased on the hypothesis hat all of the paper in the bank was worth full value. Since in December the bank is pay- ing 2 percent on genera) funds. 4 p: , cent on sinking funds, and up to ; percent on certain funds, but s | charges 4 percent on redeposits, the witness said. Johnson’s Statement, Representative Johnson, of Steele and Griggs county, immediately upou the convening of the committee in the Burleigh county courthouse introduc- ed a resolution on beltalf of the mi- nority members of the committee a: ing thal the minority be represente by attoreys. He also asked when E. B. MeCutch- eon, investigator, was employed and whether any arrangement had been made ,to pay counsel. He was in- | formed by Chairman Gr:ngaard that the committee had made no arrange- ments except those made in commit- tee meetings, or what the minutes show. : Johnson charged that there seemed to be a concerted effort to bring harm to the state industries, ayd “in order not to have it seem that*] ama party to guch action I feel T gught to with- draw from this commttee.” Reads a Letter. He read a letter into the record from A. Fisher, county treasurer of es county, to the effect that drafts of public deposits in the Bank of North Dakota had been returned from Fargo and Minneapolis banks to their correspondent bank as “undesir- C. \able business.” Mr. Steele said he did not know who was engaged in the concerted et- fort, “probably the banks are most interested.” Mr. Shipley declarzd he could see no reason why the | communication presented should have any bearing whatever on the investigation, or any reason for the minority withdrawing. Mr. Murphy, counsel for the com- mittee. declared that the records show that as far as counsel was. con- cerned cvery deference had been paid to the witnesses. > Not a Trin The investigation, he said. was not in the. nature of a trial—a battle on both sides. “We es eve ery courtesy, to give them every lee- way, more than they have any ‘rigit to. They have refused to produce documents. Mr, Lemke, a member of the Industrial Commi: ame it here Saturd an ad- journment until and then their press came out and said that we ed the adjournment. That is not tru Ed. Sinkler, Minot attorney, who has been present with Lemke at ali the ‘hearings, tried to interrupt but | Was not re ognized as having sright to speak, any | TO LAUGH? Then See DO YOU WANT WILL ROGERS In His Latest Big Picture “Honest Hutch” From the Story “Old Hutch Lives Up to Lt” Vy Garret: Smith Will Rogers, Babe Ruth of Motion Pictures, Swats Out Another Home Run, : Will Rogers Fans Dow't Need to Worry About Monkey Glands to Keep Them Young. A Pi¢ture with a Special Appeal for persons from 9 to 90 ORPHEUM THEATRE TONIGHT and TOMORROW Shows, 7:15 and 9:00 7 se gentlemen seem to forget that this committee represents the legislature—the highest branch of our government,” said Mr. Murphy. Resents Uniir bmp on, Mr. Murphy said he resented any imputation that the attorneys had not been fair in every way, and Repre- sentative Johnson said that he was not intending to reflect on any attor- House bill No. 107 providing for a ten-day open season for hunting deer, from Nov. 21 to Nov. 30, (both dates inclusive) passed, 102 to: 8. There appeared to be little pros- pect today of: the bill appropriating $200,000 for the immigration depart- ment being revived. The bill was killed in the house late Saturday, and the “clincher” was put on it, prevent- ney “that they have treated.me dis-|ing Yeconsideration without —two- courteously.” thirds votes. | ‘you wouldn’t state that?” Nonpartisans made an effort to gei Mr. Grangaard suggeste® to Mr Johnson that they‘may have honest differences or opinion, but asked if that constituted untairness, and Johu- son replied that it did not. During his rather lengthy talk, pre ceding his withdrawal, Rep. Johnson turned toward the crowded court room. After the three members Jeft the committee table, Mr. Shipley moved that there being a majority of the through a $200,000 appropriation tor the biennium, but the Independents, following their “economy program,” refused to compromise. Representa- tive Starke, Independent, asserted that if the administration had spent $200,000 in an effort to, keep some drouth-stricken farmers in the state it would have been better spent. Rep- resentative Shipley charged the bu- reau had been used for propaganda purposes, LAUNCH FARM BUREAU DRIVE IN BURLEIGH committee present, we proceed with the hearing.” PLACED IN HOUSE HOPPER Continued from page 1) about the work. Among them are Steele, Ransom, Oliver, Adams, Bow- man, Eddy, Griggs and McHenry. lembership campaigns are now in ss in Renville and Traill, where there are no county agents at pres- We are cleaning up. drives in Grant and Hettinger, which were very successful. Preliminary drives are now on in McKenzie and Williams. Mr. Randlett explained the increase (Continued from page 1.) The bureau would be composed of three p ons, of which not more than two would be of the same sex. The bureau would be permitted to such operators. cle: inspectors other employes as are nec provides a fee of not more than shall be paid for each reel insp and persons or firms subject to they, 7 law are given right of redress in| i" Tederal aid to the county agent disttfat cour: ae nes mulerialy aselat the i ae ican North Dakota work, especially as sim- ‘i Anti-Smoking Bill Passes. ilar treatment is expected from the The house late Saturday passed ‘tie | state, anUi-smoking bill, prohibiting smok- ing in dining rooms, cafes and dining cars on railroad trains where women are present. The bill was debated at . length Friday afternoon, and passeds without a great deal of debate Satur- day, 78 to 30. ‘ RAN nnn nnn nn enn THREATENS TO RESIGN POST London, Feb. that Foreign Minister Simons declares that he will resign before altering his stand opposed to the Allied reparation egreement, Coming “In Old Kentucky” The picture that has broken all records. Promise Fair Weather Washington, Feb. ‘Weather pre- dictions for the week beginning Mon- day, Upper (Mississipyl and Lower Missouri, temperature below normat and generally fair. A stone reproduction of the lone cottonwood tree that marked the transcontinental trail in’1849 has re- cently been erected. . HUMPHREYS’ WITCH - HAZEL OINTMENT (COMPOUND) For Piles or Hemorrhoids, External or Internal, Blind or Bleeding, Itching or Burning. One application brings relief. : at all druggists Send Free Sample of Ointment to Humphreys’ Homeo. Medi 6 Willian Street, New You Mrs, (Margaret Seely Blossom, widow of ‘Henry Blossom, musical SICK STOCK comedy playwright, is to become the bride of ‘EK, Clarence Jones, million-| _BOOK on treatment of Horses, Cows, aire New York broker and sports-| Sheep, Dogs and other animale, sent man, The bride and groom-to-be are| free. Humphreys’ Homeopathic Vet- shown above, ‘ erinary Medicines, 156 William St, N.Y. Neccrveks gh . 7.—Dispatches say.