The Bismarck Tribune Newspaper, June 6, 1923, Page 2

PAGE TWO THE BISMARCK TRIBUNE NEW JUDGE IS NAMED Allen — Resigns; Wahpeton | Man Appointed Successor | | Charles KE. Wolfe of Wahpeton will | Frank P. Allen of the distriet_ on October 1. | Annountement was made by Gover- | nor Nestos of the appointment of | Mr Wolfe at the same time it was | made known that Judge Allen had | decided to resign because of ill | health, Mr. Wolfe has been a member of | the North Dakota bar since 1885, | and during this period has lived and | acticed law in Wahpeton, He was | county attorney of Richland county for six years. Mr. Wolfe is a wid- ower, and has one son, a student in Northwestern University, Judge Allen has been in ill health for several months. en | | What’s Going On In The World | zi The Week’s Chief Events Briefly Told oo -—________—__# By CHARLES P. STEWART NEA Service Giving out its last batch of , Republican National | | 1 { \ | | “pub- Head- “England and her European 3” have’ been trying to “bilk"sthe United States out of the cost of her Rhine army. As if to “rub it in,” headquarters added that the whole thing was a “crooked deal.” Also it predicted that the Wash- ington government would give up trying to collect. In conclusion said headquarters, all this “confirms what has long been known * * that if this county goes into sore of a league with Euro- pean powers, they will immediately take every advantage of it to the in- jury of and at the expense of the United States.” Took It Back The next day headquarters with- drew this statement-—after a lot of newspapers had printed it—explain- ing that it did so at the State De- partme@t’s request. Headquarters didn’t apologize, however, or say the statement wasn’t true. The State Department followed right up with an announcement that an agreement had been signed with the allies to get pay for the Rhine army, and if the plan didn't work out all right the United States could abrogate it. Yet many regard the incident as pretty_queer. For one thing, such strong talk from such a source is unusual. Al- so, how can people help interpreting the tement as a thrust, not only at “England and her European al- lies,” but at President Harding's world court policy? And by his own party's. national headquarters at that. = Wanted to Quit Because the French Senate, in its capacity as a high court, re- fused to prosecute Deputy Cachin and other Communists on charges of sedition: in connection with the Paris government's Ruhr activities, Premier Poincare of France wanted to resign, President Millerand talked him out of it. * There. has been an outbreak of communism in the Ruhr and else- where in Germany, marked by riot- ing, looting and some loss of, life. In Belgium the Communists are so threatening that several classes of conscripts have been called to the colors. New England Premier Stanley Baldwin has been appoint- ed premier“of England. Lord Curzon was a strong can didate.for the place but was passed over because he is so antagonistic to labor and liberalism that it was feared he would consolidate all these elements against him and probably hasten an ultra-advanced — govern- ment. Baldwin, a Conservative, neverthe- less is a liberal one—a’ business man of modern-ideas. He succeeds An- drew Bonar Law, resigned because of bad health. Turks and Greeks A resumption of war between Turkey and Greece is threatened. The Turks, victors in the late struggle, make heavy damage claims which the Greeks refuse to pay. Unless they do so, the Turks say they will use force again. There is talk among the powers’ Tepresentatives, conferring at Lau- sanne ift an effort to arrange terms, of an ultimatum telling Turkey and Greece that the big nations simply won't permit another war which may involve :the whole: world, Don’t Mind Invasion « The “Chinese bandits who captur- ed a number of foreigners, including some Americans, from a Shanghai- Peking “Railroad train still hold their prisoners and still threaten their lites. At latest accounts government troops were attacking the outlaws’ stronghold, just the course calculat- | ed-to basten the captives’ murder. Foreign governments continue to exert strong pressure on the Peking administration and” to threaten ac- - tion gf their own, but this again un- _ doubtedly would add to the prison- ers’ peril, not to mention the fact that a foreign invasion, or-anything else e rrassing to the government at Peking, is Just what the bandits "THE “SUPERLATIVE” GIRLS OF oe HOLYOKE : ¥ % aaa Meee + een G Se AY pee Here's Miss Suzanne M, Perdrozet, |’ Miss Dorothy L, Stebbin, of Minne-] And to Miss Josephine H. Gregory, 5 ! Mass., elected Miss .tline, J » was elected the “mos FE ieee ‘ Higgs, of Wallingford, Conn., the| scholastic” girl in the graduating | the “most innocent.” She hails from | apolis, Minn., is the seniors’ idea of | of Warren, Pa., went the honor of be- { “cutest” gitl: class. Dijon, Cote-d'or. That's in France. | the “Twentieth Century” gi jing the “most charming” of all. —_—__—_ | PUZZLE OF WHY DEBT HELPS SOME fitted out with all the essentials of |day evening at 9 o'clock at the Me- a comfortable camp. Mrs. Charles] thodist parsonage by Rev. W. R. , aay A aa ; MANDAN NEWS Rowe is doing the cooking, Robert| Thatcher. ‘The. ceremony ,was wit- proyecto asa he Som Of On The last cigar in every box Wilson and Fred Romer, scout mas-| )ooco, ious. file ‘ 7m a BUT HARM OTHER EXPLAINE A daughter was born Sunday to| ters, are supervising the instruction.| 2essed by # few close friends and manager of the Bunting garage and} yoes free with the last cigar | Assistant Postmaster and Mrs, E, B.]H. K. Jensen, Wm, Bllison, Ray Grif-| Felatives.” The bride has been em- auto repair shop. Mn. and Mrs. q I eine Mire a nd HePUSEe MTORR -eeRtERG ployed in the ready-to-wedr depart- Bunting will reside at the Wm. Maas |iought, Hoskins-Meyer. | nae Bis ouitlone: ment at Hintgen'’s for sometime. home for the summer months. How a Debt Can Be Put to Work to Increase Earns) iss Ida Thorberg who has been aaa : . fi z : instruetor of music in the public} Mrs. H. E. Hagerman has gone to ings—Thrift and Loans Go Hand in Hand | schools of Chehalis, Wash., for the] Grand View, Wash., to visit at the to Aid the Industrious. past year, h urned to Mandan.} home of her son, Ed. Hagerman, 8 - Will remain until the close of Wash- os Fourteen boys who have qualified] ington uni which her daugh- The true use of debt in personal and business affairs |#s tenderfect and are members of|ter is attending. Mrs. Hagerman remains something of a puzzle to many people. To some the |!" Mandan Troop of Boy Scouts are! and daughter will return together. very word “debt” signifies misfortune, while others merely Dea tae, leet ‘ ysative ae ne Miss R fail to understand the ways in which they can put_a debt to! Heart River. The camp has been! ing were work for them to increase th on Public Education of the American Bankers Association | has undertaken in the followi banks loan money to clear up Some people think that to incur a debt at the bank is unwise, or a reflection on their business stand- ing. This !s not the case where the debt is contracted for legiti- mate business purposes. Incurring debt to live beyond one’s income is something no thrifty person would do, and careless use of credit leads to extravagance and disaster, but wise borrowing is an encourage- ment to thrift and industry. The first function of the banker 1s to encourage industry and thrift, so that a large fund of bank de- posits may be accumulated. This fund is often likened to a reservoir in which water is accumulated for community needs. The banker then loans from this fund to those con- ducting the business of the com- munity. The banker bases credit on what are known as the three C’s of credit— Character, Capacity and Capital. Character fs an impera- tive business qualification. Allied with character 1s Capacity. Be- fore making a loan a banker takes into consideration the capacity of the applicant—that is, his ability to earn through his honesty and his industry. Capital is a man’s worth in money, merchandise, stocks and bonds or lands, which may be given as collateral in security of a loan to make it safe. Let us consider the business transactions of Mr. Smith, the storekeeper. He finds, with his business increasing, that he needs a larger stock of goods. Also, some of his customers do not pay cash, and their accounts must be carried until “pay day.” He must have more money-for his business, so he goes to his banker for advice. The banker asks Mr. Smith to submit @ statement of his business, show- ing what he owns and what he owes. He knows Smith's character and responsibility from his observ- ation of his dealings and from the confidence that people have in him. If he finds Mr. Smith’s statement, and the progress he is making, satisfactory he will be glad to con- sider the. best method of loaning him the needed funds. How Money Is Loaned Money is loaned by banks on straight noteg, on indorsed notes, on collateral notes, on bills receiv- able and on trade &cceptances. Mr. Smith may be told by the banker that, because he has sufficient money in his business and manages it well, the bank will extend him credit without his putting up any security beyond his own word of honor, evidenced by his note. Let us say that Mr. Smith needs a maximum amount of $2,500 during his busiest season and that the bank has consented to grant him such a “line of credit." Mr. Smith could come to the bank and make out # note for any portion or all of this amount for any time up to six months. To pay seme bills he needs, say, $500, He estimates that within sixty days he will receive from his charge customers enough money to.repay this amount. He therefore makes a sixty day note, |. which the banker “discounts” at the prevailing rate of interest, jet us say 6 per cent, and places tha proceeds to Mr. Smith's credit. How much does he credit to Mr. Smith's account? Six per cent. on $500 for sixty days ig $5. This amount the banker deducts at the Wets ‘Treasury me * accord- ing to’ Washington correspondents, he pas tome a way out of the difficulty d dy-the Supreme Court's de- foreign) ships mustn't’ = American perts— Fie ‘ts es” the iuterest which he charges Mr. Smith for the’ of the money. He then credits Mr. Smith with Wphington dispatches also» men- tion; Anti-Saloon League trouble over debts incurred. in. an unsuccessful effort’ ‘to raise $25,000,000 to tpiaad prohibition, ‘The argument’s A your friend, Mr. Jones.” time the mote is made, it being. eir earnings. The Committee! ng discussion of how and why | these misunderstandings: | the proceeds of the note, or $495. When the note is due in sixty days | Mr. Smith has received payment | from his customers, and he pays | the bank $500. The bank marks the note paid and returns it to Mr. Smith. H If Mr. Smith's business condition | were not sufficiently strong to war-| rant granting him unsecured credit | the banker might say to Mr. Smith, | “I want to help you, but you will | have to get the indorsement of; Jones is known to the banker as a very| reliable and responsible business | man. Should he be willing to help Mr. Smith he will write his name| on the back of Mr. Smith's note and if Smith cannot pay the note when due Mr. Jones will have to pay. i In another case, the banker, eu anxious to help Smith, might say, | “I am willing to loan you up to! $2,500, but you must secure the | loan with the goods which you pur- chase for that amount and with | some additional goods.” Mr. Smith would have to warehouse the mer- chandise used as collateral in such | a way that it might be easily; identified through warehouse re-| ceipts as being the bank's property ! until the note is paid. If Smith) finally found himself unable to pay, | the banker could sell the merchan- | dise and use the proceeds to pay |} the note. If the goods brought | more than the amount of the note | the bank would pay the excess to! Mr. Smith; if the amount were not | enough the bank would look to Mr. | Smith to make good the difference. | | Mortgage Loans Loans against farm lands, called \ mortgage loans, are: frequently | made in country districts. If Mr. | Smith, lacking an indorser or suf: | ficient collateral or business stand- , ing, owned a farm free of debt he! might give a mortgage on it as security. | The procedure would be some; what different from loaning against merchandise. The law, realizing | the useful place farm and home owners occupy, protects them in a special manner. It says to the lender, in case of default on a mortgage loan, “You must give this | owner of land one year after serv- | ing notice that you expect to sell his land to pay the mortgage and redeem the debt.” This is called! the period of redemption. | Mr. Smith has still another; method open to obtain funds trom j his banker. He has sold, say, a $500 bill of merchandise to Mr. Brown, a dealer in a smaller com-} munity, who must sell the goods to his own customers before he can pay Smith. Smith says to Brown: “If you can't pay, cash give me ninety day note. 1 will discount {i and get immediate cash on it from my bank. I will have to pay 6 per cent interest to do so, and | shall want you to pay that interest.” Mr. Brown agrees and makes his ninety day note for $500 with inter- est at 6 per cent. Mr. Smith takes this note to the bank, which. ad- vances him credit for $500. When the bank collects the mote from Brown ninety days later it receives $507.50, the added $7.50 being the 6 per cent interest charge for the use meanwhile of the money for the ninety day period of the note, . These are the various ways’ in which the . bank its. com- munity by placing, through loans, the accumulated ,the com-,| munity, at the diaposal ‘ot ‘business and indpstry. , the; question—ho’s to. pay them? The Chicago Daily ‘News, . afte: country-wide ‘investigation, liquor has become the country’ big: ne en single business, | or Oil, Paregoric, Drops’ and Soothing Syrups, especially MOTHER Fletcher’s Castoria is a harmless Substitute for i epared to relieve Infants one ‘month old to Children all ages of Constipation Wind Colic Flatulency To Sweeten Stomach ' Diarrhoea Regulate Bowels Aids in the assimilation of Food, prdémoting Cheerfulness, Rest, and Natural Sleep without Opiates Git likin To avoid imitations, always look for the signature of % Proven directions on each package. Physicians everywhere recommend it, THE WORLDS FINEST CRUISE on _the Great Lakes Transit Corporation Steel Steamers “Tionesta” ‘Juniata’ Octorara”’ Duluth to Buffalo and Return yuxuRious « comfort, beautifulscenery and educational value. Cruising Lake Superior—Straits of Mackinac— Lake Huron—Lake St..Clair—Detroit River—Lake Erie and numerous other bodies of water making the Great Lakes group, Passenger service ex saat" y ev ti Hy on, “Beer ari Macoas Island, Detroit, lo, (Niagara Fall.” ce an fons i in the aene in fare. Dancing Tdeets. and Reservations at : All R. R. and SS Tourist Tibet Offices T. Corp. i You'll like this’ ' beverage as surely as sunshine and fresh air make you thirsty. It isa dis- tinctive pies of choicest products from nature — pure and whole- some WEDNESDAY, JUNE 6, 1928 Moy i HHA ‘Straw Hats New shipment . just received all the new STYLES Cool underwear Vassar, Mansco, B. V. D. S.E. Bergeson & Son Tailoring. Clothing. =4 Ss _——>>>>E———EEEEE —the finest of them all! For appetizing tartness of flavor, for firm body, for juiciness and rich red color— the Hood River Strawberries have no equal. Buy them now for eating and for canning. (Use Ball Mason jars.) The crop is limited and won’t last long. Hood River Strawberry Growers Ass’n. Advertising Office, 1722 Hennepin Avenuo, Minneapolis, Minn. Ce RCK Nona and The Roberts and Second Street North, Fargo, N. Dak. Consolidated, will hereafter be under the same management and students enrolling at one of these Colleges may change to the other without loss of time, change of text-books or additional ¢ tuition charges. Both Colleges in session thruout the year, Enroll for our Summer Courses, and we will send you to a good business or banking position immediately upon graduation. ‘ (The Bismarck College) For free ontalag and particulars write— G..M. LANGUM, Pres., Bismarck, N. Dak. MMM TT Wedding Invitations UNAELNNUNGAEGDHNNUNAOENDAONDSHNUEDSEOULEQGDOGEGUEONDUGSEtNDOOUUDANUSTUGNOTON GnNUENDGEOUEHGUOHDENGUAQAGOAUNDbORUEAOGULODENUOSUUOSON ONTO UENIAURELOE HEN HLHE The Tribune’s Printing Department Is equipped to handle Printed or Engraved Wedding Invitations or Announcements. No. job too small or too large for our battery of Presses—Call 32 when you want an estimate on \ ‘ Printing, i j BISMARCK TRIBUNE CO.