The Bismarck Tribune Newspaper, March 27, 1923, Page 2

PAGE TWO JOHN R. MITCHELL, MEMBER OF RESERVE BOARD EXPLAINS i Jchn R. Mitchell, Washington, ap- oa not a representative of Joval Reserve board, but as citizen interested in aid- ing the farmer: and business me} to solve their problems gave a clear exposition of the federal system Ivice upon how the farmer tter ais cond offered ing an intimate knowled conditions 0 the spring wh area.. His speech follows in part: “It is a great pleasure to meet ou farme bankers and ess men of the Northwest gathered together here today for the purpose of assisting in a pro- wram for toring agriculture to au proper ative position in the economie operations ef our coun- try. I say assisting because I know our d 's cannot be com- pletely accomplished at one meet- ing, but every effort made along ound constructi lines will aid ereatly in ‘ultimately — bringing about a full restoration of agri- culture. “While I am a member of the Federal Reserve Beard, I want to make plain the fact that IT am peaking more on my own i tive than in my official capacity. am not here repres toard but’ I am here upon the in- vitation of Mr. John H. Rich, chairman of the Federal Reserve Bank of Minneapolis, to join in the conferences which to be held 1 i Ye » Ninth Federal Reserve district. “I am by no means a stranger in his section of the ry at Northwe: y about as much 1 was first in thi yours, ago, two years am reasonably famil out its we Some of the he said were: “Before disc tural situation, it ed that I briefl ly enacted agricultural: credit: This is a big undertaking « act is quite comple been sugge: cut its weak spots. “To make loans or advan rect to any co-operativ tion organized under the laws of any state and composed of per- sons employed in producing, or producing and marketing, staple or live stock, or other such obliga- agricultural products, if the note tions are secured by warehouse 1 pts, or shipping documents co ering such products, or mortgages on live stock, “Loans cannot exceed 75 per cent es of security. of market valu Loans, advances and discounts made under this section shall have “= omaturity not less than months, nor more than thr “Rates of ii shall be Vederal rm Loan Board. “Bederal Intermediate banks shall have poyer to debenture five years, dl. counted or purchas “Total limit of debentures is ten times amount of paid up capital and surplus of each bak. “No organization entitled to the privileges of . discounting shall, without the approval ofthe Fed- eral Farm Loan Board, be allowed to discount with an Intermediate Credit bank any note upon which the original borimwer hes been charged a rate of interest more than 1% per cent greater than the discount rate of the Federal In- termediate Credit bank at the time such loan was made, “Capital of each ‘Federal Inte mediate Credit bank shall be mount to 100 per centum of sub- Many a G Bismarck Now Lightens With Happiness A bad back makes you gloomy. Can’t be happy wtih continual backache- 4 . The aches and pains of a bad back n ommended for wea kkidneys. ‘Ask your neighbor. John Wray. 1015 9th St., N., Big mmarck, says: “My kidnéys were sluggish in action and I had a dull, esteady pain in my back. I had to get up several times during the. night to pass the kidney secretions. Dan's Kidney Pills were recom- mended to me and I got three spoxes at Breslow’s Drug Store and after using them the trouble dis- appeared. I recommend Doan’s “Kidney . Pills. for such trouble "knowing them to be remedy of erit.” #imply ask for a it | ‘Wra: “iu a re, Buffalo. N. Y. cach other’s obligations. “Debentures issued by the Cred- States is formed. This might be the same done to advantage if th Loan | tion of wheat i its banks are tax free tc bonds are tax exempt. “Title Two- of the act provides tion. This would mean, for exa i national | ple, that the production of wheat corporations ‘would have to be reduced to around n are to be under the super- 600,000,000 bushels: vision of the comptroller of the | the consumer weuld have to pay The minimum capital of would be the Canadian price plus 250,000, and the tariff and cost of transporta- ‘ederal Re- | tion. This stem are given the right the farme ibe to the capital stock | $1.65 of these corporation - > corporations banks of the such an the essarily mean a d ductive activity but would entail | rrangement of the farmer's | ubject to the | operations all along the line. It) ptroller of the would mean, in other wo per centum of the paid in capital stock and surplus a re; of the member | approval of the ¢ “The operation of the War nance Croporation is extended to M “The new act provides for the appointment. eight, three from: the banking and | currency committee of the senate and five from the same ecmmittee of the house of repre: of entatives to state banks and trust companies do not} join the Federal Reserve S; “I believe this farm credit law | to some extent, fect of reducing intere: nting the rates to | inly pro- for making of the larger cities in while was not born here, I feel that t is my coun- an ailable when it is needed. impressed with a stat of the Literary Digest regarding this new farm credit: yn of+ the Northwest in 1889, thirty-four J was engaged in ng in Minnesota about twenty y prior to taking up Fed- Reserve work in Washington s ago. Consequently I ry with your problems and I fully ‘realize that : farmer | Would the United States Steel co! more credit to produce crops at a pefation manufacture a surplus a in sober by giving Eosilnpreednupon thoes prekentithel cen me fact that the farmers were toc much wheat in this country. Tha futile to endeavor to xport in competi- h the wheat farmers in| Canada, the Argentine, Austral aising: tie discuss the recent- and only ex- perience in\its operation will iron| tention to what See! oduction, so far | 1 the quantity produced be marketed at/a price which will| the Slope countrs cover-all production costs and leave | the producer enough to tempt him | to continue production.’ ‘Some contend that th ing as overproduc Q and cannot be there are people in the} world who suffer for food and clo- On the same line of reason- ing it can be argued that the pro- duction of automobiles will be in-| N' ; adequate until every man and wo-| intendent of the land development department of the Great Northern; It is Re E. Macgregor, of Minneapolis, rman of the northwest commit- of the War Finance corporation; Sdward Barr of the agricultural de- |} fC prige of ae | partment, Bt. Paul assoctation: Ww. = H. Norton, of the First ‘ational a . Paul; P. J. Leeman, of | V Op s not too high! the First National bank of Minnea- in my opinion and it costs from) polis; E. C. Hillweg, assistant to the | ner of the Minneapolis Tri- orth- stead; Oval Quist, Minn- . Owen, n not | He also 1s tion of | man and every boy schocl age owns one.’ : difficult to arrive at the cost of | chai 0 many different | into con- girl of | raising wheat conditions must be taken running not more than secured by like amount of notes or other obligations dis- on land} jank of § worth $100 per acre “When the farmer goes to mar-| bune; George Kelly of the ket, he finds that the purchasing | west Farms power of his dollar is only about | ¢ 68 per cent of what it was before | Minneapolis Journal, — In other words, s been a gradual in- se in the costs which the farm- manufactures, freight rates and taxes, while everything the farmer ,pro- sold on about the same scale of prices prevailing in pre-| war times, with the exception of wool, cotton, and flax. evitable law of has gotten in its work. full accord with Secretary Wallace that among causes which contribute to the ab: norma! relationship of farm prices to the prices of other things may/duced. He said there were two de- mands — potential demand, under ich everybody would be supplied: ————————— since | in- supply and demand I am in} 000,000 and shall be subscribed by the the government of the United State One half of net earnings go to the government and balance to a surplus fund until it shall} be mentioned. Overproduction of farm crops. Continued high many scribed capital, after which time 10 per centum of such earnings shall be paid into surplus and balance paid to the United. States as a ranchise tax. Each Federal In- termediate Credit bank is liable for the obligations of the other Federal Intermediate Credit banks to the same extent that the Federal Farm Oe OUT OF THE GLOOM y Countenance in freight ) The maintenance of indus- ial wages at near war time levels. Economic depression and depreciated currency in Européan | “(5) Initerference with the effi- cient functioning of necessary in- “(6) Unreasonably high costs of | d'stribution of some farm products. “The. question is hew are-these difficulties going to be overcome? “Jt would seem that the farmer | can go a long way towards solving | the over production problem. I am! not attempting to outline a pro-| gram for the farm is a matter for shim to Nore out | or Oe ba with the assistance of his banker | . and advice of the various agencies | Married at work to aid him, such a the | United States department of agri-| |. 4 culture, the agricultural colleges,| Every Woman Should Read This such organizations as the farm bu-| St Paul, Minn ‘During — my i] | early married life I became sort of rundown and suffered with*general feminine troubles, I took. Dr. Pierce’s Favorite Prescription ind Lit built mee up in “health and 5 Fi, x } strength. ‘hen’ about two: years difficult, obstacle to | go T suffcred with ‘functional dis- | turbances, became weak and all) run down in health, and I again took the Favorite. Prescritpion aid; ; it gave me the same help as be- fore; it built me up in health and! strengthened my whole nervous} j, system. Favorite Prescription is a splendid woman’s medicine and nervine”—Mra. §. L. Reberts, 291 er to follow. Are frequently due to weak kid- eys. Doan’s Kidney Pills are rec- So Bismarck citizens testify. banker ’counci and all others that are working for | one common end, the welfare of the farmer. The matter of high freight rates the farmer is a most overcome, and it is absolutely nec- essary for the welfare of the rail- roads that agriculture is restored | to its pre-war ‘condition and a re-| duction in -freight rates on agri- cultural commodities’ is one of the prerequisites in getting the farm- er back on his feet. freight rates should follow a sub- in operation | Clift St. such an economy as has been represented will. be ef- fected by a merger of the Northern Pacific, “Great Northern and Bur- | for tiral pkg. tablets. A lowering ‘of Price 60c, at all dealers. Don’t ey remedy— Doan‘s Kidney Pills—the same yy had. Foster-Mil- costs and. i s, let us have it and ible. Hlington syst Socn as pos ntly mariaged, are when — effic r highly beneficial to the farmer in bringing about an orderly mar- for wheat growers to organize co- operative marketing associations unless one association of all the wheat producers in, the United e produc- ricted to a ¢ consump- m- little under the deme: and the price n that today ceive around would med would r for his wheat. a bet- ter balancing and divers crop It most necessary that ever: sities he cannot r \farmer should not raise more flax than is now being raised in this country. ountry from 1914 to e, would be in ex- into this inclu: | production of flax — | price they are now receiving which is the Argentine price plus the en tate-| Cost of transportation and the tar- ment appearing in a recent issue jg” Would that the producers of | reparene | wheat were in the fortunate posi- 4 Jaw in which | tion that the flax grower is! an eastern farmer is quoted aston that one ee ee the questio | at which th le The answer is no.” aa. See BUSINESS MEN, FARMERS AND outside people. as Members of Party Those in Mr. Mitchell's party, in | Mosher tind Mr. Owen were: A. B. Smith manager of the E, E, Leedy super- | addition to Mr. Mitchell, Mr. ppssenger traf?! hern Pacific | publi olis Tribune; David MUST CUT PRODUCTION. play the game the way the rule \laid down. that we villing to pay for it ” he asked. there the wi Mrs. S. L. ROBERTS It | F THE BISMARCK TRIBUNE - DODGER OUTFIELDER’S HARD LUCK here is no doubt but that co- | cnerative. marketing associations, , Z Such curtailment would not nee- | ease in pro- | Bert Griffith, D: other day while in tri putting the injurcd limb into a ¢ ve his leg a severe wrench the ning at Cles ‘ation of |. with all they want and ne demand—that which can disposed of at a fair profit. He said the clothing manufacturer did not take into consideration jfact that there ma: people without suffi This might be done to ad- vantage if the production of wheat is restricted to a little cstic consumption. This would mean, that the production of wheat would) have to be reduced to around 600,- farmer produce practically every- | thing he eats and have farm prod- | to exchange for those neces- | be thousands of ent warm cloth- The manufacturer says that he will produce only what he can sell at a profit, that he is sorry for the peo- ple but he cannot produce at a loss. “Don't confuse the situation w vherein everyone has what the “We've go8 to pla the game according to the rules laid n't make the rule. the rule is that if you produce more than the effective demand you will go “There is no reason why the! consumer would have to p: be the Canadian price plus the tarift transportation. would mean that tod: would receive around $ A fair average of the annual amount of flax imported cess of 12,000,000 bushels. The curtailment would not ne- armers could well increase their y ten mil-| ilion bushels — or employ one mil- \lion acres without affecting the ductive activity but would entail a rearrengement of the farmer's oper- ations al] along the line. in other words, a letter bal- and diversification of crops. “It is most necessary that every farmer produce s and have farm exchange for those neces- cannot raise. Raise More Flax is no reason why,the farm- ers should not raise more flax than is now being raised in this country. ir average of the annual amount into this country 4 to 1922, inclusive, would ss of 12,000,000 bushel “The farmers could well increase production of flax—say 10,- 000,000—or employ without affecting the price they are now receiving which is the Argentine plus the cost of transporta- Would that the that it was necessary that farming be on te same bitsis other industry, and that production be according to that which can be sold at a fair profit. Farmers Far From Broke “The farmers of are far from broke,” Curtis L. Mos- her, declared and he gave the fol- lowing figures to back up his state- iover domestic demands if the price » surplus had to be sold} |fixed a price for the entire pred- | than the cost of | “In the Ninth federal reserve dis- trict half the bank deposits of the district are owned by the farmers. There is over $700,000,000 on deposit In addition there is in the district. a large amount of money in carried in the pockets of the farm- hey darmers) owe tion and the tariff. producers of wheat were in the for- tunate position that the flax grower BANKERS MEET|" all your at- (Continued from page 2) of Agri-| to ignore economic laws without in his latest | meeting disaster,” he said. The part was met here today by a reception committee of the Asso- concerned, when- | ciation of Commerce, and at noon lunched with about 40 bankers from here for the meeting. Tonight they will be guests the Association of Commerce at an open forum luncheon at the Me~ Kenzie ‘hotel. More than 250 reser- vations had been made by local and like a terrifie amount, until you learn thet this debt is bal- anced by lands and owned by the farmers of the district amounting to eight times as much as the debts. “This proportion improvements “Let me ask you this Would the United State: portion manufacture a surplus over of. indebtedness domestic demands not out of line with the proportion carried in other lines, “There can be no sound argument farmers of this should raise wheat and sell it at a ower price than it costs to proddce said Mr. Mitcholl. | we only grew as much wheat as our fixed a price for the entire product that was les than the cost of pro- is: Most certainly But the wheat growers of the in a comparable situa- NOTICE OF Notice is hereby given that that executed und Anstrom and An-; MORTGAGE is claimed that Canada potential wheat producing possibili- ties sufficient to supply the require- ss of the world. It should be an easy matter if such is the case for Canada to increase her 200,000,000 bushels, if neccssar. potentialities, certain that Russia will sooner or later again be a competitor in the raising of wheat. | “To talk about gofernment price fixing for wheat or anyother agri- livered by Albin E na_Anstrom, to Union Investment company, a cor- ee, dated June 10,! 1918, and filed for record in the of- fice of the Register of Deeds of the of Burleigh and North Dakota, on the first “day of July, 1918, and “146” of ynortgages, poration, mort, at page “111; mortgagee by an instrument in writ- | cultural commodity is in my opinion |» ing dated’ November 13th, 1918, to a waste of time. of operation, It is impractical ment was on the 22nd day of Janu- ary, 1923, duly recorded in the of- er of Deeds of said such legislative action would be a fice of the Regi Burleigh county, in book Mortgages, at page “The farmers must approach their problems as a business problem and solve it along business lines, must to gain all the advantages that lie in co-operative associations, but above all, seek to plan their praduction with relation to the demand. “It is just as important that the business of farming be along sound, business lines as any Harry L. Owen, of Fifrm, Stock and Home, speaking at the theater mect- ing declared that “we farmers must re "and there- dated May 9, 1921, to First. National bank, Prescott, Wisconsin, a ation, which assignment was on the 22nd day of January, 1923, duly re- corded in the office of the Register of Deeds of said Burleigh county, in Book “174” of Mortgages, at ‘page “268;” will be foreclosed by a sale of the premises in such mortgage and He said “it has been bred into us n only profit if we produce, | produce, produce, and the result is t we produce a big surplus and of it only at what some- sheer waste of time even to try to change economic Jaws by legislative hereinafter described at the front] door of the Burleigh county court! house, in the city of Bismarck, Bur- leigh county, North Dakota, at the hour of 1 o'clock in the afternoon! on the 16th day of April, 1923, to} satisfy the amount due upon such} mortgage on the day of sale. The premises described in such mo fame are situated in the cour Burleigh, state of North Dakota and described as _foll Th Southeast Quarter of Section Thir- | in Township Onc Hundred { ‘our North, of Range Seven- ty-six West of the Fifth Principal Meridian. There will be dug oa such mort- gage at the date of sale the sum of twelve hundred sixty-three dolla and sixty-nine cents; besides the costs and, expénse of sale, and the} attorney fee allowed by law, H Dated Marth 7th, 1 FIRST NATIONAL BA! Prescott, Wisconsin, Assignee. Adrian E, Buttz, Attorney for Assignee, Leeds, North Dakota. 8-8-15-22-20-4 5 12 a sa NOTICE AND CITATION, HEARING OF FINAL ACCOUNT AND DIS- TRIBUTION OF ESTATE. STATE OF NORTH DAKOTA, Coun- ty of Burleigh, In County’ Court, | Before Hon, I. C. Davies, Judge. IN THE MATTER OF THE ESTATE| OF DUKE W. WILSEY, DE-|_ CEASED. Belle Wilsey, Petitioner, v Wilsey, Archie Wilsey, Be: ..sey Ricker, Ada Anthony, Orpha| Powers, Ruby Wilsey, Respondents. The State of North Dakota to the . Above Named Respondents, You, the said Harry Archie Wilsey, Bessie W: er, Ada Anthony rs, Ruby Wilsey, are hereby notified that} the final account of the adminis- trator of the estate of Duke W. Wil-} late of the town of Wing, in the} county of Burleigh and state of; North. Dakota, deceased, has been| Best by Test rendered to this court, therein show- ing that the estate of said dece: is ready for final settlement and dis- tribution, and petitioning that his/ account be allowed, the residue of| said estate be distributed to the) ministration closed and he he d charged; that Tuesday the 24th day | of April, A. D. 1923 at 10 o'clock in| the forenoon of that day at the court rooms ‘of this court in the court!” house, in the city of Bismarck, | county of Burleigh, and state of | North Dakota has been duly appoint- | ed by this court for the settlement thereof, at which time and place any person interested in said estate may appear and “file exceptions, in} writing,to said account and petition! and contest the same. | And you, the above named respon-| dents, and each of you, are hereby; cited and required then and there to| be and appear before this court and show cause, if any you have, why) rid account shall not be allowed! the residue of s the administration of said estate| closed and the said J A. Davies, ad-| ministrator be discharged. Dated the 9th of Mareh, A, D. | . Davies, unty Court. SUMMONS. STATE OF NORTH DAKOTA, y of Burleigh, In District Court Fourth Judicial Distric Thomas A, Gallagher, Plaintiff, + Amelia C. Gallagher, Defendant. The State of North Dakota to the Above Named Defendant: You are hereby summoned to an- swer the complaint in this action, a copy of which hereto att herewith served upon you, and serve a copy of your answer to complaint upon the subscribers their offices in the city of Bism Burleigh county, North Dakot in thirty days after the service this summons upon you, exclusive the day of: serv and in g your failure to appear or he successful man, in any kind of business, achieves cess not by opposing economic laws but by adapting the operations to He answered the proposition that re always starving people in ld to consume what is pro- Ingrown Toe Nail Turns Out Itself A few drops of ‘ skin surrounding the ingrowing nail reduces inflammation and pain,and so toughens the tender, sensitive skin underneath the toe nail, that it can not penetrate the flesh, and the nail turns ‘naturally outward almost over Future is Bright “That.the future of agriculture is bright seems to me certain, estimated that in 10. years our po- pulation will have increased to such an extent that our present production which is reached practically our full capaci- ty will, not equal “He also say: utgro” upon the said to have ne contend that there is no such thing as overpro- duction of farm products and can- not be as long as there are people in the world who suffer forfood and On the same line of rea- sening it can be argued production, of automobiles will be in- | adequate until every man and wo- man and every boy and girl of high school age Owns one.’ Lower Freight Rates , “The matter of high freight rates is a most difficult obstacle to over- come, and it. is absolutely sary for thé welfare of the railroads that agriculture is restored to its prewar conditioh-and a reduction in freight rates on agricultural moditics is in my opinion erequisities in back on’ his fect. "fs 2 harmless antiseptic manufactured for chiropodi ever, anyone can buy fro store a tiny bottle containing direc- IGS PILLS , Woman’s Advice should follow a substantial tion. in operation costs and. if such an economy as has been represented will be:cffected by a merger of the Grent Northern | BUSINESS DIRECTORY WEBB BROTHERS ‘\ Embafmers', Funeral Director: nsed Emibalmer in Charg nS and Burlington let us have it'and as goon as poss Undertakers 5) DAY PHONE 24 PERRY ‘Day Phone 100 ; no doubt but that co- associations, when ‘efficiently managed, are: high- beneficial to the farmer in bring- about an orderly marketing and jing of, certain crops, Co-onerative Marketing “I cannot see that»it is practical for -wheat. growers to organize co- operative marketing associations un less one association, of all the wheat producers in’ the UNDER’ Write Dr. Pierce. president In- valids’ Hote? in Buffalo, N. Y, for free medical advice. or send 10c United States is Upholstered The economical washing powder! Easily. and thoroughly cléans, puri- fies, and sterilizes all dishes, china, glassware, ete! Saves half your soap bill! Tio Mm ATAU NIGHT FH NES 246- it -Night TUESDAY, MARCH 27, 1928 Don’t be Penny Wise ana Pound Foolish Don’t think because youcan big can of Baking Powder for little moneythatyouaresavinganything _ There’s Only One Way to Save on Bake-Day CALUMET The Economy BAKING POWDER —It costs only a fraction of acent for each baking. —Its sale is 21% times as much as that of any other brand. — You use less be- it contains more than the ordi- leavening strength. ened ased THE WORLD'S GREATEST BAKING POWDE! mentioned has been heretofore filed in the office of the clerk of the trict court of Burl b f judgment will be taken against you persons thereunto entitled, his ad-ihy default for the relief demanded in the complaint. rek, North Dakota. a bruary, 1923, NEWTON, DULLAM & YOUNG, Attorneys for Plaintiff, City National Bank Building. Bismarck, North Dakota The summons and complaint above Dated this 12th day of M: NEWTON, DULLAM & YOUN Attorneys for Plaintiff, City National Bank Building, Bismarck, North Dakota, 14 ait not ve allowed’ Eor Constipated Bowels, Sick Headache, Sour Stomach, Bilious Liver thartic-laxative in the| will empty your bowels completely IL feel splen- ur liver and bo s when you have Dizzy Heads Its, Pills, Calomel, or Oil and i eC Heed-b-12-19 | Colds, Biliousness, Indigestion, or] y cost only ten cents a box. Chil- or two tonight << ga HERE ARE THE McKENZIE HOTEL FIVE They play for the dances at Patterson’s Hall every Wednesday and Saturday nights. Rates for in city $5 an Hour, outside of city same Rate Plus railroad fare and Hotel expense. R00 You'll find caps and’ more caps and still more caps and then somé more caps in,our South window. This is only a fair sample of our supply and selection. : GET YOURS today for Kaster, at KLEIN'S TOGGERY The Style Center in The Center of North Dakota. AAA