The Bismarck Tribune Newspaper, February 7, 1923, Page 2

PAGE TWO THE BISMARCK TRIBUNE GERMAN MARK HAS VALUEOF 23,000 TO $4 Industrialists Raise Cry That tion Stabilize Exchange mptly | | | | ORTS ON INCREASE | I Yield of German Investments Abroad Show Acute Fall- ing off (By Associated Press) Berlin, Feb. 7.—German _ trade | nd industry close the fourth cal- | ndar year following the war with | feeling that, though much wa- | er has flowed under the bridge, | ittle has been salvaged from the | ush and swirl of the current.) actory chimneys smoked _ stead- | y and machinery hummed brisk- ; during 1922 throughout — the | meth and breadth of the land, | the mark’s catastrophic de- jation made earnings mere | dows of what they were form-| | rly. ‘AS the new year opens, the cry| roes up from all sides for a sta-) vilization of German currency. Traders and industrialists alike lived through a hectic twelve- months in 1922, owing to. the! mark’s fantastic fluctuations. — It} commenced at approximately 190) to the dollar in January, mounted) gradually to 457.50 in July, then) went on a mad rampage averaging | 1,160 in August and reaching 9,000 and higher in November. (On Jan.| 18 the mark was quoted in New| York at over 23,000 to the dollar.) | Upset Calulations | These wild maneuvers so upset} business calculations that scarely| a nook in the national economic ucture was left untouched by the | , uncertainty in wholesale and retail | investments. A vicious feature ap-| peared in the tendency to quote,| prices in the steady, high-valued | currencies of other countries, such | as the dollar and pound sterling. A| natural reflex to the mark’s continu- | ed fall was a proportionate rise in | the cost of supplies. Gradually the | practice grew of basing quotations | to the buyer, not on the cost of ac- | tua] producticn, but on waat it would cost to replace the article in |; the seller’s stock. Taking the figure 1 as a basis, for r the year 1913, the official index fig- ure on costs of living, exclusive of | clothing, rose from 15.50 a year ago to 400.47 in November. The whole- | sale index, reckoned on the same | basis, went from 34.87 last Decem- ber to 566.01 in October. Artificial Inflation _ | In many quarters abroad tae Ger- man currency depreciation was at- |S tributed to purely financial resulting from artificial rather than to economic conditions, | as German experts claim. The latter | support their belief by pointing to a gold reserve of some 1,000,000,000 marks in the Reichsbank, sufficient | to cover doubly the paper currency in circulation. They further call attention to tae fact that, when no new notes could be printed for ten days in October due to a printers’ strike, the Mark continued to fal] in the exchange rates, despite an acute shortage in currency. causes inflation, | Imports Grow From the Werman pomt of view the mongtary depreciation is a re- suit of Germanys passive trade bal- ance. ‘The surplus of imports over | exports grew constantly large thoughout tae year, ‘his lopsided state of affairs came fully to ght * shen the government began issuing the figures on international tragp in | terms of gold marks, Previodsly these reports had been quoted in paper denominations, and an activity cavorable to Germany sometimes ap- peared, only to prove illusory later. ‘fhe total surplus of imports in the ten months ended with, Uctober imounted to 1,859, /00,000 goldymarks seing the ditrerence between 6,074,- {00,000 and 3,214,/v0,000. In Janu- iry the surplus was 58 milion gold narks andgn February 61.7 miluon. With March, it jumped to 239.1 mil- lion and in October was 241.8 mul- lion, The highest surplus fpr any one fonth up to that time was 364 million in July, wien the imports went,beyond the 566,000,000 marq for the first time, amounting to 684.8 million gold marks. Investments Shrink In addition to this passivity, there was # falling off in the yield of Ger- man investments abroad,—this hav- ing exceeded 1,500 million gold marks before the war—and an in- creasing amount of interest to pay to foreign investors in Germany be- canse of new property acquired by them. aere. The export trade suffered greatly through factors indirectly thrown | into°the industrial situatioh by the marks. depreciation. Prices of ma- terial, which jumped sensationally from day, to day, mage it impossible for German factories to bind taem- selves with fixed stipulations for de- iveries very far in advance. They to deal with’ frequent de- for increased wages, brought | among workmen. As a restlt of } their uncertainty in concluding, and /fulifling contracts, tae martufact- r Jost numerous orders in for- countries, especially Americ: uted many at financial . They were often forced to “Wérge payments in advance to be produced. ‘ tal \common se Se B: lthat no charg n by the ‘higher costs of living |” Explosion Four wero killed and scores injured when a gas tank, the remains of which are shown above, exploded 4m Springfield, Mass. Debris was showered on the business: district, automobiles and teams blown several yards and windows shattered over a large area. Shakes Springfield NEW NATE BILLS S. B. 344, Garber.—Amends Sec. 3294 C. L, 1913 to permit county boards to erect, repair and main- tain county hospitals after appro- val of a hospital ptoject as been given by a majority of the voters. S. B. 345, Van Camp:—Provides for a standard new form of hand- ling tax notices and tax receipts introduced at request of state as- ciation of county auditors. bes Fleckten and Mikle- thun:—Declares unlawful the in- curring of a deficit in the office of any state department. S B. 347, Wog.—Would consoli- date the offices of probate judge and clerk of court and cities of the official in counties under 8,000 po- pulation. S. B. 348, Rusch:—Removes the ment calling for payment ate or counties of industrial ce to the workmen’s com- reau on school teach- ers, instructors, professors and educational institution employees. hed, $ Olson:—Aimed _ to prevent any voter from changing is gistration party — affiliation nd making same a misdemeanor registrant. and offi- in the change. Page:—Requires a maximum rate of interest be in- erted in the form of the ballot to be used at elections on the pro- position of issuance of bonds by ool district 5 Patten:—Declares es shall be made by registers of deeds of counties for recording papers for the Bank of North Dakota on the theory that it is state business. S. B. 352, Benson:—Includes and adds “dancing, either public or private” to the list of acts for- requ hidden by the ld blue laws on Sunday observance. S. B. » Martin:—Calls for a new method of handling delinquent ax sales; cancels all accrued pen- alties and interest on taxes levied r to 19238. S. B. 354, Atkins:—Takes attorney general from and the adds ite treasurer to the board of | rsity and school lands. B. 355, Atki Substitutes the secretary of state\and the state auditor for the commission- er of insurance and attorney gen- eral on the state auditing board. S. B. 356, Byrne and Garberg:— Revises the present system ' of making high school levies and charges for tuition and makes a flat charge of $1.00 for each elec- tor of a county for all school pur- joses. S. B. 357, Atkins: Provides for a non-paid commission of five to study the lignite coal industry from. mining and briquetting standpoimand to report to next legislature. _S. B. 358, Stevens:—Administra- tion measure on new system of electing congressmen and senators and presidential elctors. S. B. 359, Stevens is companion measure fixing time of county con- vention as second Wednesday of July; state central committee to be formed third Wednesday in unive: Ss: S. B. 360, Whitmer:—Abolish- ing the system of delinquent tax certificate sales and providing that in case taxes are not paid the title reverts to and becomes pro- perty of the state. (By request.) S. B. 861, Porter:—Provides that the board of administration when it deems expedient fer the girls from the state ning school to the property at Bottineau. known as_ the state school of forestry and for the abol- ion of the latter institution and maintenance of it as a_ training school for juvenile dependent and nquent gir! S. B. 362, Rusch, (By request): mechanic’s lien laws to protect supply houses who furnish with goods. 363, Whitman, (By re-) -Would change eight hour for wemen law to .limit of 10 hours in one day, but not more than 48 working hours a week. S. B. 864, Majority of Commit- tee on Banks and Bankipg:—Pro- vides for reference of a constitu- ional amendment for approval of a $3,500,000 bond issue (30 years) to take up outstanding obligations of thesG@naranty Fund commission and pay off depositors of closed banks. S B. 365) Bond:—Calls for a general repeal of the Guaranty Fund commission and the winding up of its affairs July 1, 1924, airs ky S. B. 366, Miklethun.—Calls for a law giving the railroad commis- ners power to arbitrarily fix a schedule of freight rates within the state which shall not be great- er than those in effect prior to September 1920. S. B. 367, Miklethun:—Cuts the school year for common and high schools to eight months course an- nually instead of nine as at pre- sent. S._B. 368 Martin:—Provides for a general moratorium on all farm indebtedness or land mortgages for a period of two years. S. B. 369 Hamilton:—Calls for elimination of all railroad grade ings by means of subways or aduc on important highways. S. B. 370 Baird:—Clarifies law concerning guardianships and making liable guardians of chil- dren or others whether they reside in the same household or not. s. 371 Lynch:—Places the regulation of the drug acts under the supervision of the State Food Commissioner. B. 372 Lynch:—Makes the nt hotel inspection act in- clude restaurants within the scope of the 1] 5. dpnchs--Bulatges the present bevffages inspection act to give Pure Food Commissioner jurisdiction over sale of .all soft drinks as well as those which may or may not contain alcohol. S. B. 374 Lynch:—Enlarges the scope of the egg inspection act to include all eggs sold in whatever market as well as the sale of cold storage eggs. ; S. B, 375 Van Camp:—Is an act authorizing the State Tax Com- missioner and County. Commission- er to compromise such taxes upon July at state capitol, bank stock for 1919, and 1920. Police Arrest Alleged Klansmen S. B. 376 Van Camp.—Provides for declaring a poll tax delinquent and for collection of the same. S. B. 377 Page:—Abolishes the present system of election of as-~ sessors and empowers the County Auditor to appoint all deputy as- sessors in the county and abolish- ing the offices of township, vil- lage, city’ and district assessors and the office of tax supervisor, and making the County Auditor responsible for the assessment of jall property. S. B. 378 Baird:—Amends the present exemption statutes to al- low a partnership $1,000.00 exemp- tion instead of $500.00. S. B. 379 Lynch:—Is a compan- ion bill to the oil tax measure pre- viously ‘introduced and in this in- stance providing rules and regu- lations and means of inspection as to grade and amount of oil sold. S. B. 380 Atkins:—Removes from the Industrial Commission the management of the State Mill and Elevator project and provid- ing for the appointment of a Board | 000 for wolf bounty fund. Pass 46-| S. B. 94:—Paying small deficit in Dickinson Normal fund. Passed} 45-0, S. B. 103:—Giving $30,950 for carrying out provisions of voca-{ tional education and rehabilitation. | Passed 42 to 3 A | §. B. 196:—Appropriating $25,- | 000 to meet like sum from federal government for eradication of bar- | berry bushes. Passed / 33-13. i §. B. 142:—Apprepriating $25,- | 00 to state miscellaneous fund. assed 45-0. S. B. 186.—Appropriating _ 50,- 000 to N D. contingency fundr! Passed 44-0. i ./ B. 137: —Giving $2,006 to pay | cost’ of disbarment proceedings. | Passed 44-0. jj S. B. 183:—App. $32,500 for two | years expense livestock sanitary | board. 44-0. S. B. 36;—Makes up deficit at | Bathgate school for blind. S. B. 100:—Makes up. deficit in state schocl of science, Wahpeton. | §. B. 112:—Appropriates $22,230 | expense ufnd state historical So- | ciety. \ S. B. 85:—Appropriation for) general expense of motor vehicle registration fund. S. B. 200:—Providing means! whereby county _ commissioners | may be recalled. Places such of- ficers under the general recall elections statute. 7 \ Bills Passed in House H. B. 143 (Jackson)—Providing for filing of manscripts of judg- ments of U. S. courts and notices of taxes due U. S. in office regis- ter of deeds. Vote 98 to 5,10 ab- sent H. B, 157.—Increasing time polls shall be open for school elections to from 12 noon to 7 p. m. in cities | of 1,000 or over, Vote, 71 to 33, nine absent. Ae H. B. 61 (Muus)—Repealing | law permitting counties to issue seed and feed bons Vote, 71 to 32, 10 absent. H. B. 63 (Muus)—Provitling ma- chinery for collecting present out- standing indebtedness for seed and feed furnished by counties. Vote 100 to 3, with 10 absent. H. B. 161 (Morton)—Provides that on petition of two-thirds of taxpayers of district, free-text book provision of law may be eli-, minated. Vote, 88 to 17, eight ab- ent. H. B. 132 (Appropriations Com.) —Appropriating $1,376.00 for ex- penses railroad commission acting with northwest fuel committee, up to July 1, 1923. Vote, 105 to 0.~ H. B. 138 (Harrington)—Chang- ing 1921 law which prohibited par- | don to murderer serving life-term until he had served half of life of Managers by the Governor. S. B, 381 Rusch:—Provides for the appointment in counties hav- ing over 35,000 population of two Assistant State’s Attorneys, one at $1,500, a year and the other at $1,000 a year. - A S. B. 382 Whitman:—Revises the present statute of frauds to require that promises of ‘bequests must have been made by deceased in writing. S. B. 383 Bond:—¥egalizes and validates all taxes levied by cities of over 15,000 inhabitants during 1921, which were in excess of the maximum rate permitted by sta- tutes. Ss B. 384 Whitman:—(By re- quest) Restores to cities and municipalities and takes from the Railroad Commission the right to regulate and control ublic_utili- ties. S.B. 385 Whitmen:—Provides that counties or groups of coun- ties may vote upon a bond issue or tax levies funds raised to be used in the construction, operation and maintenance,of electric or oth- er railways suid would tap terri- tory at present conserved. The measure is designed especially to permit a vote by residents of Dunn, Meréer, Oliver and Morton counties through which has been surveyed and right of way obtain- ed for the Manning, Mandan and rier. Passed by Senate S. B. 21—The measure known as the administration income tax law. Provides a new schedule of income tax levies, raising assess- ments and re-writing the’ whole present law. Passed 31 to 15. S.. B. 150.—Repeals present tax on the stocks and bonds of corpor- ations doing business in the state. Covered by provisions of S.-B. 21 and in conffict therewith. Passed 28 to 18. Emergency lost S. B. 152, Bond:—Providing legal machinery for the consolida- tion or merger of banks and amai- gamation of interests. Passed 27 to 19. Ss. B, 213:—Giving state game board further power than already possessed for protection of fish in tions. Pass 38-7. 7 S.B. 220:—Provides that in case ef a deficiency in a special assess- ment for city improvements up. Passed 31-15. S. B. 35:—Prohibi Freda‘ Railway, a proposed elec-| , tric farmers supply Jine, and car-|/ L centain lakes under certain condi- the commission or council may levy against all property to make it ; iting persons under 18 years of age from. attend- ihg public dances unless chaper- oned. . S. B, 184:—Appropriating $40,- | BUSINESS DIR Licensed Embalmer id ‘ . z sepent Betas eT PHONES 246-887 _ Embalmer IN Furnit ture term until he had served half of life expectancy, to provide in case person pleads quilty, sentenced to life, and crime was indirect act, he may appeal for pardon any- time. sent. Bills Killed in House H. B. 57 (Martin)—Providing domestic insurance companies may invest in state, county and school warrants. Failed, 46 ayes, 67 nayes, 10 absent. B. 53 \ Martin) —Providing if property bought by county for de- linquent taxes, owner may redeen at 6 percent_interest before Dec. 1; ae Indefinitely postponed, 64 to . MOTHER! WO" “California Fig Syrup” is Child's Best Laxative Even a sick child loves the “fruity” taste of: “California Fig Syrup.” If the little stomach is upset, tonguo coated, or if your child is cross, fev- erish, full of cold, or has colic, a teaspoonful will never fail to open the bowels. In a few hours you can see for yourself how thoroughly it workg-all thé constipation poison, sour bile and waste from the tender, little. bowels and gives you a well, playful. child again. Millions of mothers keep “Califor- - ine “California syrup. + cones: xG soma ‘tour of thé state training ~ school Vote 59 to 48, with six ab-|. UHILD'S BOWELS | nia Fig Syrup” handy. They know @ poonful today saves a sick child frrow. @ Ask your druggist for Fig. Syrup” ich has directions for babies and children. of all ages printed on bot- tle, Mother! You must say “Califor- nia” or you may get an imitation fig | . A meeting of the Child Conserva- tion League will be held Wednesday afternoon at 3 o'clock, at the home of Mrs. H. G. Taylor. Mrs. George Beaumoht, who has been a guest for the past ten days at the home of her parents, Mr. and Mrs. Christ Sakariassen left yester- day for her home in Jamestown. Members of the recently formes committe on public health and social hygiene were taken on an inspection Monday. Mrs. A, H. Petrson is chair- man of the committe which is ‘com- posed of representatives from each of the various clubs and organiza- tions in the city. T. C. Keller left yesterday even- ing for the Twin Cities to attend a convention of the plumbing and heat- ing contractors of the Northwest. The meeting is being held in con- nection with the building trades con- vening there this week. \ The Catholic order of” Foresters will give a card party and dance this evening at the old opera house. C. S. Barrows of Dodge was a bus- iness caller yesterday. A. H. Petrson, cashier of the Far- mers State bank, is in Fargo attend- ing a meeting of land bank organiza- tions. Mandan: Lodge No. 1256 B. P. O. Elks will hold a big meeting Monday, Feb. 1% when Curtis P. Brown, dis- trict grand exalted ruler, will pay his official visit to the lodge. At |this time a large clags will be in- itiated and another ‘lass will be voted upon. Mmes, McDonough, Francis Mc- Donald and R. E. Percy will enter- tain, the members of the English Al- tar kociety at their méeting this af- ternoon at the school auditorium. A business meeting will be held at 2:38, followed by cards at 8 o'clock. ROOMKEEPER JAILED Jamestown, N. D., Feb. 7.—Mike Kostoff, alias Dago Mike, is serving a 15 day sentence on the charge of keeping @ room for gambling, being the place where two masked men recently held up seven cardplayers, shooting one, George Blake. No new developments ‘ave arisen in the investigation ¢f authorities } Or Service i | | ‘EET to Order, . e@ delicious app epie orsaucc WEDNESDAY, FEBRUARY 7, 1923 \ since arrest three men, one of whom danger, appears improving, and de- confessed planning the holdup, im- spite loss of blood and the woupd plicating the other two. : Blake, while poeeecre cater er Avenues . The Standard Oil Company (Indiana) is a from a bullet which passed entirely t pronounced out of through his chest, may recover. = «in afi \—<Apples all peeled, sliced and corfed—ready to cook by the simplest and easiest way, just as they come from the carton. —Apples with that full, tart taste and natural fresh flavor of choicest, winter varieties. —Apples that keep appetites keen for pie, sauce and other apple treats all the time. 6 KINGS — APPLES are selected apples in their most convénient and : economital form for cooking. In handy, sanitary cartons. A 5-oz., 25¢ awl makes 2 pies or 8 portions of sauce. No nt to use the entire contents at one time. At your grocer’s \ .KING’S FOOD PRODUCTS CO. \: Originators of Practical Dehydration : PORTLAND, OREGON Send for FREE Fruit and Vegetable Cook Book. Address Dept. H. Yepetable® EGINALD McKENNA, head of the largest bank in the world, says that ~ “Splendid isolation is a dream;” a truth 4vhich every industrial leader accepts as axiomatic. Had he substituted monopoly for isolation he would have expressed an- other self-evident truth which would have been acclaimed by every man who has given serious thought to the development of bus- iness on a large scale. big business striving to do a big job ina big way, yet no thought is given to achiev- ing a monoply; for those who direct the Company’s activities know that in any basic industry such an ambition is impgssible of- fulfillment. Competition is welcome, for no single organization can hope to serve the people of the Middle West with petroleum Br lucts as they should be served. The tandard Oil Company (Indiana) enjoys a large volume of business and is satisfied to let this volume take care of its profits. There is a reciprocal bond between every great industrial onganizatinn and the-social environment in which it operates. An or- ganization is truly great only. when the service it renders is great. ; The Standard Oil’Company (Indiana) is in daily contact with a community of about 30 million people. 4 It serves them through a host of useful products refined from petroleum. Through these“products it touches the home and in- ~ dustrial life of the people. It enters the sick chamber with mineral oil and petroleum jelly. It enters the factory, the roundhouse, and the farmyard with lubricating .oils for machines, engines, .and tractors. It seeks the farm home with gasoline, kerosene. candles and parowax. It touches the railroad right of way with Fortnite Long Time _ Burner Oil for signal lamps; it supplies thousands of public and private garages with gasoline and lubricants. It feeds the furnaces of homes and factories with Stanolind Furnace Oil. It goes to the hos- pital with Stanolind Surgical Wax. It paves the streets with Stanolind Paving Asphalt. » These are but a few of the avenues of serv- ice whith the Standard Oil Company (Indi- ana) maintains. To keep these avenu open the Company operates 1700 servic stations, 3900 bulk stations, 7000 -tank wagons serving thousands of es, and 6 great réfineries to supply their needs. _ Thus does the Standati Oil Compan (Indiaiia) acknowledge its réciprocal bond, and by creating a host of useful, essential.’ products from a single basic raw material — crude pétroleum justify. its claim to master craftsmanship in industrial fusbandry. ‘Standard, Oil Company 910 S. Michigan Ave., Chicago, Il.