The Bismarck Tribune Newspaper, February 16, 1922, Page 3

/ THE BISMARCK TRIBUNE THURSDAY, FEBRUARY 16 -Kuppen PAGE THREE Better Suits Cannot be Built $50 - $55 - $60 Values Handsome Patterns---Kuppenheimer Made. == McKENZIE HOTEL BUILDING heimer . - Main Street _Men’s and Young Men’s THE MEN’S CLOTHES SHOP:-- rose SUITS FORMERLY ’S CLOTHING SHOP BISMARCK, NORTH DAKOTA MOSHER TRACES BUSINESS BUMP OF TWO YEARS Assistant Federal Reserve Agent Talks Upon Sudden Change in Business ADDRESSES LOCAL CLU Many Factors Entering Into Nation-wide Depression Are Discussed By Him - Acute business depression has been present in the Ninth Federal Reserve District for the past two-years, Cur- tis L. Mosher, assistant Federal Re- serve agent, and secretary of the board of the Federal Reserve bank at Minneapolis, told the members of the Bismarck Commercial club here to- day. Analyzing carefully all of the elements entering into business con- ditions today, especially as it affected the selling of goods, the obtaining of credit, and ‘the development of ex- ports Mr. Mosrer in the course of an extended speech, reached the conclu- sion that individual buying power was the need of the present hour and that individual buying power would return when ffle factories had demands for goods, “For nearly two years the Ninth Federal Reserve District has suffered from acute business depression. Its grain prolucts, corn, copper, lumber, and all the other items of production have suffered from radical declines in the market. The transition from a period of great progperity and high prices to a period of slack demand for what we have to sell was unex- pectedly sudden. There has been a decline in prosperity which has seri- ously affected our largest business, which is agriculture and stock rais- ing, and which has been felt propor- tionately’ all the way down the line to the man who works for wages. Prosperity Not Accidental, Prosperity or the lack of it’ is not accidental. An analysis of facts ought to determine what causes it, or “upon the other hand, why it is lack~ ing. The prime factors of prosperity are apparently (as) a satiisfactory power of absorption’ in the foreign markets; ¢b) an adequate domestic market and consumption; (c) un- hampered interchange of goods and credits at home and abroad; and (d) adequate transportation. If we ex- amine these factors we can probably discern why business has been de- pressed. If we study them carefully we can obtain what is probably the only safe guide for judgment as to the future.” In the beginning of his inventory of the present business conditions, Mr. Mosher found first the cost of the great war in dollars and then in lives and found in this one of the most certain facts that Europe would not buy as in the past. “Markets depend) upon buying power,” he told his bus-| iness men’s audience. Buying power must be individual before. it can be collective. A vast ability to absorb passed or with the dead.” Turning to the lack of employment in the United States Mr. Mosher contin- ued, “The man who has no job can- not help the farmer ward off falling prices. He might be glad to buy flour and wool, and the other commodities we are interested in, but if he can- not pay he cannot buy. Nothing was more discouraging than to see a few months ago in the great industrial sections of the east so pronounced a depression that one longed for the sight of good black smoke pouring from a factory chimney.” Referring to the better. business conditions begin- ning to be exhibited in th centers, Mr. Mosher continued: “every man who goes back on the payroll is a distince asset to the Northwest. He will increase his purchases. As he returns to productive operations he does his part in setting in motion again the machinery which draws up- on us for the things we produce and sell, and.we produce things neces- sary for the living of the people. The pends so obviously upon the freedom with which the purchasers are able to buy that every evidence of recov- ery should be welcomed as a boon to the Ninth District.” Difference in E hange. Mr. Mosher then presented the dil-} ference in exchange that prevented most of the countries of Europe from purchasing in the United States, dis- played the fact that 14,000,000 or one- half of the ship tonnage of the world was idle, that cotton was the largest export item of the United States with wheat second, ohe bushel in every five produced in the United States needing a’ foreign market. The loss in wheat exportation in 1921 was $150,000,000, he declared and propor- tionate on other agricultural articles. “The farmer and the stockman re- ceive credit not from banks alone but from two princtgal sources. Their short requirements are met by their banks. In pre-war years their long requirements were very largely met in the farm mortgage market which has been all but destroyed. Except fer the war(\finance corporation there is at present but one source of agri- cultural and live stock credit, an1 that is ‘the local bank, which by the failure of the market in which the longer requirements have always been met, has since the early part of the war heen subjected to abnormal strain both to demand and the shrinking of deposits out of which to meet the de- mand. This shrinkage in North Da- kota alone last year was $31,000,000. Any credit mechanism is obviously defective that imposes upon banks burdens which they are not organ- ized to carry. The proper solution of, the agricultural credit problem must in all probability comprehend not only that existing banks take care of the farmer's short time require- ments, but the re-establishment of the} farm mortgage market and some method of intermediate financing to assist certain classes of agriculture and stock production which in their nature cannot produce ‘short credit requiréments but do produce require- ments running from six months to three years,” Charge Off Losses. National banks, representing about one-third of the bank | s charged off last ‘year, $179,885,000, on their loans: and ‘discounts, bonds and secur- ities and foreign exchange. In the ninth district 107 have failed in the last year, Mr. Mosher informed his hearers, eighty-three of these still be- ing closed. But one bank in four’ is 2 member of the Federal Reserve bank, Mr. Mosher declared and that if North Dakota had affiliated its eligible bank: the extension to North Dakota banks woukl have reached $25,000,000 in- stead of the $12,000,00 that is ifall eli- gible members had. needed the same credits as the member banks. “Future agricultural and liye stock prices must depend upon future mar- kets,” he concluded. “These markets will depend upon the buying power of individuals. The re-opening of the eastern factories with a consequent decrease of unemployment, the re- sumption of copper mining with all of its indirect effects upon timber and coal production and transportation, and the somewhat more hopeful tone of the business world, are all encour- aging factors and lead to the belief that the buying power upon which prosperity rests will gradually reas- sert itself.” ' | | ADMITS HE DENIES MURDER , (Continued from Page 1) statement until June 14, when he told that he did not go to the train. Gummer said that originally, he told the officers that Miss Wick called the hotel desk by telephone at 11:15: p. m., on June 6, and that he also cor- rected thatystatement on June 14, and that he, in fact, called the girl him- self by telephone. The accused man admitted also that he had originally, refrained from. telling the officers that he was in e industriak-Room 30 on the morning of June | before, calling Lawrence but that he was in fact in the room before that time and that he himself had later told the officers the truth ooncerning that visit. Called at 6 A. M. Gummer said the first time he call- ed the room that morning at 6, that he called two or three times and then went up and rapped at the door. He came down. swept out the office, condition of the domestic market de- = TS Patronize the Young People’s WAFFLE SUPPER at Baptist Church tomorrow. Friday.. 5:30 to 7 o'clock. 35 cents. then took the pass key went up and lopened the door. There was no key lin the lock of the door, and Gummer | said he at no time saw the key given |Miss Wick. Gummer said he went into the room, advanced about three jsteps and backed out. He said as he MISSTATEMENTS, | jconvened at 2p. gn. As the noon re- Gummer described Farrell as be- jing between 25 and 30 years old, 5 feet 8 inches tall, his face tanned, and he said the man wore a shabby suit, dark with lighter stripeg or streaks, and that he had the appearance of being @ laboring man. Saw Her at 11 P. M. Gummer said that from the .time the girl went to her room at about 11 p. m., June 6, until she was found dead, he did not ‘see her, “That is the last time I saw her until she was found dead,” Gummer said, after tell- ing of the girl's retirement to her room, Gummer said he assigned H. J. Ha- gen to Room 31, because Hagen asked for a $1.25 noom, and 31 was the last. vacant room at that price in the hotel. “James Farrell,’ Gummer - said, came into the hotel about 2 a. m., and asked the price of a room. He left the hotel with the statement that he would return with a pal, but returned soon alone, registered, and was shown to Room 40: Gummer said that ho himself did not write the name “Farrell,” that Brown did not write it on the regis- jter, but that the name was actually signed by the guest, Farrell. Gummer said that on the occasion of his conversation with Miss Wick over the telephone at 1 p. m., he asked concerning the time she wanted to \be called, and that he asked her also if she had gone to bed or if she was still up. A “Call me at 6 o’clock,” Gummer said Miss Wick replied and he said there was no other qonversation between | himself end the girl. : Regarding Brown Andy Brown, Gummer said, came into the hotel around 12, but could not definitely fix the time and it might neve been later than 12, Brown remained in the lobby until nearly 1 a. m., Gummer said. When Hagen registered into the hotel after 1 a. m. Guinmer said he was seated in a rocking ‘chair behind the hotel desk, Gummer said he could not recall | what lights in the office were burn- ing at the time Hagen came in. Gummer said also that he was be- hind-the desk at the time ‘Brown came into the hotel that night. Gummer said in his conversation with Brown that he, Gummer, told Brown who was in the hotel and that he might have referred to “a swell looking girl’ who checked in. Gum- mer said that during conversations with officials the latter told him things they credited to Brown as say- ing said that he told them that if Brown said them, they must be true. | He said thiose statements now stood las having been made by himself. » Gummer admitted that he had been in Miss Wick’s room the morning of her murder before notifying Fred Lawrence. As to the telephone conversation at night, at which time the state’s evi- shows that Gummer made ad- s to her, Gummer's testimony does not concede that ‘such advances were mad Gummer was not asked in the direct testimony if he called the girl, or she called the office. | The first time that Gummer uscd | {the nam2 “Marie Wick” he faltered | momentarily. He pronounced the first yilable, and then repeated himself, |““Ma--Marie Wick.” | Under Barnett’s questioning, the | | witness was asked if on the occasion | of the various aonversations had with the authorities the questions were put | up to him in an affirmative manner, such as, “Isn't it a fact?” and “You know it,” ete. Gummer replied that they were. Gummer still was on the witness stand at the noon recess, and resumed his direct testimony when court re- cess was ordered, Gummer was being examined concerning the time officials came to his room, about 2 a. m., June | 8 took him to the police station and ; took finger prints, ete. Gummer said jhe made no objection to the proceed- ings. Throughout his testimony, Guin- mer maintained his composure. Some-,| what paler than usual, he seemed at times to answer questions hesitati ly,-but always with great deliberat n. He spoke in a low voice, but could ;be heard throughout the crowded courtroom, DAKOTA PIONEER DEED, Minot N, D., Feb. 16.—William E. Mansfield, 70, who settled at James- town, N. D., in 1882, died here. He moved to Minot in 1887, He served as postmaster here and in 1896 was elected to the state senate from this district.| He was successfully engag- ed in business here. He leaves a Funeral services were held COMPANY A. DANCE OFF On account of conflicting; dates with Elks party the Com-| valked away from the room hé was | frightened at the prospect of finding the body alone, and waited about five minutes before calling Lawrence. THE U. §, GRAIN GROWERS HAVE “BIG JOB AHEAD Nationally, ‘This Organization Has 110,000,000 Bushels Under Contract St. Paul, Minn., Feb, 16.—Approxi- mately 5,000,000 bushels of grain rais- ed in Minnesota is under contract to be sold through the U. S. Grain Grow- ers, Inc., for the next five years, ac- cording to a recapitulation of organ- ization work in the state announced at the Northwest headquarters of the farmers’ company. Three months of solicitation in Lyon, Redwood, Watonwon, Wright and Kittson counties has resulted in nearly 1,400 farmers joining the move- ment, according to J. S. Jones, in charge of the Minnesota npaign. Nationally, the organigation has 110,000,00 bushels under contract, this having been pledged hy 43,000. farmers in twelve states. In Tyons county, Minn,, where corn is the’ major crop, 530 members have/| pledged 1,900;000 bushels, an average | of about 3,500 bushels each, Tleva-) torseat nine shipping points are un-! der contract to handle the grain of members, At three other points, the membership is sufficiently large, Mr. Jones says, to warrant the immediate organization of local associations for the purpose of arranging shipping fa- cilities, In Kittson county, a wheat section, more than 250 members. have con-| tracted to deliver 277,000 bushels an- nually, an average of more than 1,000 bushels of wheat per member. YOUNGSTERS PLAY LIVING IN IGLOS Fargo, N. D., Feb. 16.—Youngsters here have taken advantage of the snow and cold and are playing at living in iglos, Eskimo fashion. Following recent heavy snows, piles and drifts more than six feet high a cumulated along the sidewalks. he cold hardened these to ice-like con- sistency. Nowadays the pedestrian in walking through the residence sections of the city pa: one iglo after another, all swarming with young and happy Es- kimo life. NESTOS SPEAKS AT GRAND FORKS Governor R. A. Nestos has accept- ed an invitation to deliver the Found- ers’ Day address at the University of North Dakota at Grand Forks next week, Mrs. John Zook a Your Kidneys or Back Bother You? Austin, Minn.—“Some time ago I caught a heavy cold which settled in mmy kidneys and affected my blad- der. I suffered intensely and had to take to my bed. My mother recom- mended Dr. Pierce’s Anuric (kidney and backache) Tablets and I took them to relieve the congestion in my kidneys and bladder,. They soon gave Me relief, and not only that, but they eventually restored me to my usual good health. I took six bottles of An-uric, but it was w@ll worth it for) my kidneys and bladder ‘have been in perfect condition ever since.”"—Mrs. John Zook, 103 S, Jay St. Since it is such a simple mater to step into a drug store and obtain Dr. Pierce’s Anuric Tablets anyone who earnestly desires to regain health and new life will: waste no time in TAX MASS MEETING CALLED, Wahpeton, N. D., Feb. 16.—Richiland county comm mecting to 1 held at Wahpeton Mar. 8 for the discussion of public expendi- tur and formulation of plans for reducing taxes if possible. The meet- ing is open to all interested taxpay- ers, all civilians, school officers being especially urged to attend. U. S. SEED LOAN OFFICE CLOSES. Grand Forks, N. D., Feb. 16.—The federal seed loan office established here Sept. 8, 1921, for collection of seed loans made to northwest far- mers is being closed in conformity \by Theodore Wade, special field agent MRS, HATFIELD SABINA, OHIO In Pitiable Condition when she Began Taking Lydia E. Pinkham’s ° Vegetable Compound ham’s Vegetable Compound for weal iness_and irregulari- ty. I was weal Inervous and could stand on my feet long enough to cook a meal. I was this way for about a year and had tried several medicines your medicine and finally induced me to try it. 1 now feel fine and can do m: housework without any trouble at all. You can use this letter for the sake of others if you wish.’’—Mrs. WELDON G. HATFIELD, R. R. 3, Sabina, Ohio. Housewives make a great mistake in allowing themselves to becomeso weak and nervous that it is well-nigh impos- sible for them to attend to their neces- sary household duties. Lydia E. Pinkham’s Vegetable Com- pound should be taken when you first notice such symptoms as nervousness, backache, weakness and irregularity. It will help you and prevent more serious trouble. Give it a fair trial. It surely helped Mrs. Hatfield, justas itHas many, many other women. | Patronize the Young People’s WAFFLE SUPPER at Baptist Church tomorrow. Friday. 5:30 to 7 o’clock. 35 cents. REO Theatre ~~ TONIGHT and _ TOMORROW FRANK MAYO In a thrilling drama ofsthe northwoods “ACROSS THE DEADLINE” on the same program 2 Reel Fox Sunshine Comedy “LOVE AND WAR” COMING The Son of Wallingford. SAVE 50c A TON Order Your Coal From The New Salem | Lignite Coal Co. (Corner Front and Eighth St.) |] CHAS. RIGLER, Manager. Phone 738. COAL $5.00 PER TON | DELIVERED 1 pany A dance will not be held jonc further notice. Signed. Committee. chtaining them.—Adv. : issioners have called a|™ with an announcement made Monday | Sabina, Ohio.—‘‘I took Lydia B. Pink- for the department of agriculture, | anyone having correspondence rela- who has been in charge of the office.; tive to seed loans must address it to Wade states that trom now on all| the Warmers Seed Loan_ offi de- | nished work will be handled di-) partment of agriculture, Washington, Washington, D. C., and| D, C. u rectly from The Greatest Race Track Drama Ever Staged “The Thunderclap” Featuring VIOLEF MERSEREAU and Mary Cair (famous mother of “Over the Hill”). An eight reel superspecial teeming with action and thrilling adventure-filled scenes. Better than “In Old Kentucky.” Douglas Fairbanks —presehts— i“The Three Musketeers” Adaption, Costuming, Research under Edward Knoblock. Direction under Fred Niblo. Photography under Arthur Edegon. With nothing that. has ever been done in the vast multi- tude of ‘films given to the world, can you fairly compare this supreme picturization of a story that has made mill- ions of men and women in every country on the face of the earth laugh and sob with unforgettable emotion. And Douglas Fairbanks as the noble D’Artagnan has caught, Me with rare feeling, that indescribable “something” that enables him truly to live the part. “ALL FOR ONE, ONE FOR ALL” Oy Theatre All Next Week Commencing Monday, THEATR | wilt *, | ROGER | Fi POORS and a Mack Sennett comedy, “BY HECK” K-I-N-O-G-R-A-M-S FRIDAY and SATURDAY ‘ JACK HOLT in........“THE CALL OF THE NORTH”