The Bismarck Tribune Newspaper, May 24, 1927, Page 2

PS ae inet Pianist at 10:18, WDAF (366) Kan-| ¢._ 4, FOOD SALE : ; ( eee , ames being wittheld sas. ‘will feature the Ni Pees Fe bo a of the Pi agian the. eer 2 4 8 pele weereld : bel uray afternoon ‘at the’ Jones tl boi shine eons bectel: aes sng of the Tnstrutors te to Judges Burke and Burr Are Speakers at Kiwanis Meeting| GENER AL BUSINESS a CONDITIONS Judge John Burke, who was chairman of the day at the Ki- ? : " wanls club luacueon this noon at the | From the Monthly Bank Letter for May Issued By The National City Bank of New York Grunid Pacific hotel, gave un inter. | ; esting talk, telling of the issues o! i, : i colonial and continental currency in| ‘the early days of the arene He; exhibted a number of bills issued in ‘ tit < | ducti¢n i ie y The general business situation con-| duction in acreag a cohen insttctive talk on the Revoe| tues to justily all reasonable fore-| One of the most signficant devel- lutionary war by Judge A. G. Burr! casts made of it at the beginning of] opments of the month was the publi- was a cr feature of the program.| the year, Not all developments have| cation of figures on building contracts Judge Burr outlined various events been satisfactory, but the balance of| awarded in March, which were the “of importance in the war for inde-| infuyential factors continues to be of] highest for any month on record, sur- pendence and explained their signif-| Go yorable character. Easter trade has| passing those of March last y.ar by ee Warner lea inthe elub song.| been good where weather conditions| 4 per cent. One would be rash to The lub charge was given to three! have permitted, and bank debits and] conclude from this that building is new members, Richard Hall, Tom. gailway traffic have indicated dis-| headed for new records every month, Burke and F. M. Davis, by Dr. J. O.! ggibution generally to Le in large vol-| such an eventuality being neither prob- Arson. Guests of the club were’ ume. Steel production in March set] able nor desirable, but the conclusion sy arange and be We Miller, of o'new high record, and April prom-| at least is justified that building is Gartison, BB Con clay) ises to show up as another active] in for no sudden or drastic decli resid month even though not up to the} In view of the importance of con- gone aga level of March. The cotton goods} struction re ie the Latta : )} i | branch of the textile industry is do-] ness situation, indication of continue School Election =| ing the best business in years, tire} support from this quarter is decidedly Will Be June (| mansiacturers ave bad a big” frst | reassuring. tiarter, and most of tht motor com- ‘ have enjoyed a good volume | The Trend of Corporation Earnings __ ‘THE BISMARCK TRIBUNE _ The fact that the world-wide col- lapse of war inflation in 1920 be ‘gan with an economic crisis in Japan and then spread to other markets. of the world has led to some specula- tion as to whether the present disturb- ances in Japan might havo similar consequences, There is no analogy, however, between 1920 and 1927. In 1920 prices were on a highly inflated basis all over the world, credits were everywhere strained, and money con- ditions tightening. In 1927 conditions are. the opposite of this. Prices all over the world have been declining steadily for the past two years, offers ing little incentive to over-expansion. Bank reserves have been increasing and money rates falling. Just as our domestic business situation has been safe-guarded by the absence of price strengthencd by an inflow of new funds from heavy April dividend and interest disbursements forced the bond market during the month into new high territory. The changing char- acter..of. investment. buying indicates that many of those investors who have hesitated to invest: because the market, seemed high are rapidly com- ing to a.tealization that their ideas of interest return must be readjusted to meet the prevailing market. A few months ago, the major ion of new offerings of high grade rails and other bonds of similar quality were absorbed in the larger investment.cen- ters, but present offerings of such se- curities are bringing subscriptions from all over the country and: from a class of much: smaller investors than herétofore, we do not see any riason_ why need- ed adjustments should not go forward in a normal manner, at the same time affording ample opportunity. to up- to-date ‘well managed” concerns’ for continued good business. The elimination of concerns unable to sustain themselves against the com- Petition of. more progressive.rivals always has been going on, but with more rapid development in the tech- nique of industry, greater incentives to mass production, creased sup- plies of capital at the. command of successful enterprises; the movement inevitably is speeded up. Money and Banking The money market has moved along on an even keel during April, continuing the unusual stability dis- B. Cox, club preside With the annual school -election | pani layed si ni > A ol -¢ played since the first of the year. ‘The'Financial inflation and existence of ample bank one eae hie rete mae st eth ‘business generally looks for-] Business earnings statements now] Following the seasonal easing in feserves, for the same reasons busi- tie: ry autee affair. “The clec-| ward to the maintenance of activity] Coming out for the first quarter make] January, call loan rates have held’ al- Japon ness the world over is vastly less be. av vat} 4 stant a rales “tior will be held on Tuesday,| during the current quarter is indi-| 3 aot trade with slightly over June 7, at the Will school build-| cated by the estimates of car re-| half o oe omnis Cee ee ing, between the hours of 9 a. m.j| quirements submitted to the railroads ‘ pales with a eas ¢ and 4 p.m. by_ shippers’ advisory committees in jue steel bgt iar inited ae The term of only one member different parts of the country which Steel Legs slightly, uit bee o' of the board exp r, that! anticipate a commodity movement in| Most other Pak gaad eh pas of George Will, lready | most lines equaling or slightly exceed- factory, dive to t e papi tel slow announced his candidacy for re-' ing that of a year ago. start of the industry on the new year fon for a three-year term. Among unfavorable factors in the] and the lower prices quoted for steel Vv ay, June 1, will be the) present situation may be listed the] Products. Returns from the automo- last, day on which filings as can- ituminous coal strike, which has now] bile industry were varied. While some didates may be made, according to! peony in progress a month, but has of the oil companies did fairly well R. Penwarden, clerk of the board. | caused fittle inconvenience to general| during the first quarter, the effect ‘ g business thus far, owing to heavy] on others of over-production and price —* stocks on hand and large production| cutting was marked. ae ae EEDSr i \ -tinion mines. Production is] Narrower margins of profit, coupled | A hhe Mh im eeeeion mine Toei | ver ae arte The past month has witnessed the outbreak of a serious financial disturb- ance in Japan. Confidence of the Japanese public in the banks was tem- porarily shaken, resulting in runs on many institutions throughout the coun- try, and forcing ‘numerous suspensions of which the most prominent was that of the Bank of Taiwan, of Formosa, which operates a large number of branches throughout Japan and in for- eign countries. The. Fifteenth Bank of. Tokio was another important ‘bank that was forced to close, in addition to which some thirty or so small hanks have gone under. So acute did the situation become that the Govern- most steadily at 4 per cent, showing neither the customary advance in February and March nor the usual decline in April. Bill rates have been almost unvarying 334-3 per cent for 90-day acceptances, and time money and commescial paper rates have likewise been little changed. The latter eased slightly in February, re- covering in March to present levels of 4 to 434 per cent, for prime names. So far as the immediate future in money is concerned the outlook seems be for continued stability of rates. all loan rates may vary somewhat from the present average, but com- mercial rates generally should show likely to be disturbed by unsettlement oy one quarter than it was iu The policy which the Japanese Gov- ernment has determined upon doubt- less is the proper one for dealing with this emergency. It does not represent aneeffort to maintain prices in Japan above the level of prices in world markets, and reports indicate that prices in Japan have not been ser. fously disturbed by recent develop- ments. The aim is to restore general confidence in order that business may Proceed in an orderly manner. The amount of credit involved and of pos- sible losses is so large that only the asp: * > nt thi it is with .tod] during recent months, are indications} comparatively little change. With ment on April 22 declared a morator- Government could deal with the situa- Ks ELTINGE beseen age r Lee UE SUT A UREETTAR presen of tendencies at work in busitess of| large gold reserves on tap and the | ium for three weeks, ., {tion effectively, and the general in- fapstonight: Tues “1 ~ mining being «nly 14 per cent under] which account must be taken. Ac-| volume of Reserve bank cfedit out-| The immediate causes of these dif | terest is great enough to justify. i last year at this time and above the| cording to recent Government tables,| standing down to a billion dollars | ficulties were (1) the failure of | interposition. The lesson of the ci ’ York to fate in 1925 and 1924. As a matter] Prices of industrial materials, as ge-j‘there seems little reason to anticipate | Suzuki & Company, a large Japanese | would be lost, however, in Japan and Daniels dV) of fact, demand is too slack to ab-| sult of recent declines, are now at|‘any change upward. Nor should fates |concern carry’ on operations ‘in jelsewhere without recognition of the rin the sorb even the present output, which] lowest levels since the war. Capacity| go materially lower, so long ‘as busi- | many lines of industry and trade, both | truth that the fundamental cause of in a Tax ne comedy, “Naughty eing show Ch h turé picture, The Lupino ness holds up to the present mark and barring heavy liquidation in the, se- curity markets or further gold im- ports. While some uncertainty has existed as to whether the reduction of the British bank rate might not cause a movement of funds to New York, thus affecting the market here, the steadiness of sterling since the British rate reduction and last week's gain in gold by the Bank of Eng- land indicates that no important shift- ing of\balances has. thus far mater- ialized. in Japan and other countries, and (2) the rejection by &he Privy Council of the Government’s plan for extend- ing aid to the Bank of Taiwan, to which Sszuki & Company was ine debted for very large’ sums. The more fundamental causes, however, date back to the earthquake of 1923, the deflation of 1920, and to the very. rapid development of Japanese in- dustry and trade over many years. This development has tended to keep the capital resources of the country fully employed and under the pressure of ever-growing demands, with the result that business credit has been employed ‘without sufficient rescrves to deal with emergencies. thesé troubles has been a widespread effort to do too large a volume of business on too small an amount of capital. While the circumstances which have: precipitated the present crisis in Japan are ‘very much regretted. it is believed that once normal conditions are restored the financial situation there will be on a very much sounder hasis than in the past. Weak spots will have been cleaned out, and those banks which have stood the test will de all the stronger for it. Bankers in this country and elsewhere have entire confidence in the ability of the Japanese people to deal successfully with the situation: in many lines to produce in excess of is down partly because of slow con- c cess 0 ements is resulting ir sumer buying. Devastating floods have wrought de- struction over a large section of the “elephan: om the 0} jade-enerusted which is placing increasing pressure ae ed trilliant ‘ornaments’ of 4) tower Mississippi Valley and caused] on the weaker and less efficient «mite Fee ind ychinese, warden and 4°" reduction of purchasing power| of industry, It is: manifesting. itself rugted one of the most elaborate | which will be felt in the primary] not only in the smaller Profits in oe SHS ‘the hi ary ot markets of the country. Aid is being] some lines and a higher failure rec- n studio, for “Mr. Wu,” Lon brought to the stricken territories | ord, but also in more frequent mer- ’ urring vehicle play- however, and extensive as the dam-| gers and the increased tendency for tinge “tomorrow and gge has been the business of the} industries to seck a solution of thei country rests on tod broad a hase to be] common problems through some form serizusly affected thereby. Meantime] of cooperative action such as is ex- cotton prices, which have ‘. beri] emplified by the recently formed Cot- strengthening slowly on improved con-| ton Textf}es Institute. In the absence ty signed to keep | sumption outlook, have risen sharply] of any sesieysly. disturbing symptoms out the evil spirits to the glittering | shove 15 cents, on prospects that the] in the busifess ‘ogtfook, however, and pagodas of Cathay, H i li } i inui Flowers and plants imported from | fod may result in a considerable re-| with credit-supplies continuing, ample, China. vied with tie plants du- plicating Chines agriculture. Statues, ornaments and other det: were authentic, many of great value, and many imported from China. for the production, Bronze cranes, gold fish, imported’ Chinese lilies ‘and cene, representing the palace of Wu, the uncanny The Bond. Market |, The continitance of a heavy invest- ment demand. which was further . MAN HELD IN ST: PAUL ON MURDER - Social and He: CHARGE IS' SAID TO HAVE SERVED 2 many ake tnnces"setinn eed lt Personal the work. A hag 8 Cast that includes Renee ciuh ware taken through the on re ' . Ginsted,, Clugde. King, "Anna ag | historical” society ‘museum Monday | today. "ted (@ ReF Rome at Carson) Nicholas Schon ' Did’ ‘Time sted, d » Anna F. Crawford, — state i — | historian, M. wford explained | DRIVES TO FARGO | Here For Choking Wife to STAFF NAMED DECIDE CASE }the various r and: departments} C. G. Derby of this city drove to Death at Their Home in Wong, Holmes Herbert and others CAPITOL THEATRE of the museum. Luncheon at the| Fargo yesterday to attend the grand, ps We Kelsch to Study Inquest Tes- afternoon by f note, Some of the most dazzling marine! Capitol Cafe followed the meeting, lodge séssion of the A. O. U. i Dickey County and Then shots ever filmed were included by! SITING ' es i il ‘ i ‘ nerd é VISITING HERE MARRIAGE LICENSE ISSUED | Bod ord! Pupils Who Will Run ‘Spat- : Eagles” Foe Filme perion cr Geata| «Me Bi Larion has as her guest)| AMARAGE LICENSE ISSUED | Burming iy, Acebeding timony Before Pressing Satta ae i r.-and Mrs. A. F. Rushfeldt. and| day to Henry G. | terinx’ During ‘Coming utilizing the Pacific battleship fleet, | Halverson of Glenville, Accompanied pid | Year-Are Selected spent many hours at sea off the coast | >¥ Mrs. Larson they will continue TO. FARGO | St. Paul, . May 24.—()—Nichol. of Laguna, San Juan Capistrano, San their trip to Dickinson and Devils} Miss Eva Baillett left this morn- Schon. 75 years old, who ii ied ‘ " . Lake the latt t of this week. |i ’ visit. | Dregorand Qe Mexican West Count latter part of this wee ing for Fargo for a few days’ visit. (fiat on charges of murdering Mrs.| eins, Mandan high school ne ith second degree manslaughter, wil Robert Edeaon, David Butler, Ralvk| ©, TO SERVE SUPPER YEOMEN TO MEET |man who served two years of a 10-|paper, for the coming year, were an-| ination of eimere pe CP ee Sipperly and other members of the cabs’ meteor Eee tts, ME) The Pte, Oe We Laine’, "| diauphtes im the state pce ete eens Eeeeorectaday by Miss Glenora. Wat- | given at the coroner's Inques! in Bi os rs 2 ; “ iscopal church wil ight at tl 0. U. 1 | slaughter in the state’ penitentiary at ms, faculty adviser of ie per. , cast were used in many of these I} night a} he W hall; | North Dokete Pe y Dorothy Mathys is editor-in-chief of marck yesterday, C. F. Kelsch, state's _—_— Whether prosecution of M. J. Bart- Appointments to the staff of Spat- | ley, Bismarck man, who is charged iday eve: SOmGs, It ie seid thet’ the pinnae serve a waffle supper Frida padi dobre a | attorney of Morton county, suid today phic. eff inwuiaind at the church. The affair is to raise * |, This is the charge made by L.|the publication and George Toman, h < fig'most beautiful to be found ange, {nds for the organization and whe | Father Slag-to Give | xrerre, sterthtey MTR ae Pp i: | the publication a sake, Tac, wlere on the Pacific Ocean. Janet, Public is cordially invited to attend. a letter received} Dorma Logan was appointed as- Henry Schi it, Beach, in an auto ac- Commencement Talk |by'these morph pay! has 1 inine| gel ice today. sistant editor, and Pete Stewart | oj = irole In the Beutmont tests of matin®| DE MOLAYS TO ENTERTAIN Jn Jane, 1916, Schon was. charged|gthlatic editor, with Hubert, Hintgen | gus’ s0tt", HSZe, Saturday. A cor. preorid: fond which antendad into| .. tory and De Molay degrees| FOr St. Mary’s Clags| with the killing of his wife at their/@s his assistant. Lois Ripley was | ciared that it Gon tind tio eyibene an en will be given tomorrow evening at the if o: obhdeneat me in Dickey county, North Da-!named alumni editor and Francis imit regular meeting of the De Moly ne YEbta, by choking her aid them fent-jFord humor edits Lose Besanels Sat oe Martiee eee antec ce ee the Masonic temple. The meeting| Commencement exercises of St./ ing that she might revive, he.tied her;to be the new exchange editor and | dri ft ii f Radio’s Ri in will be followed by a dancing party | Mary’s high school will be held Fri. |t® the bed and. after saturating it|Lee Nichols the new feature editor, ley's. car eae er SA Dare H adios hla! | for members and their friends. day evening, May 27, at 8 o'clock in ith Kerosene, set fire to it und|with Gertrude Fredericks as his as-| “If the facts as they have been th ateriy : sts i «det burned: the body, according to the| sistant. Al stant for George! stated in thi: i i (By The Associated Press) . SQUIRREL CLUB PLANS PaRTy | the school auditorium. The com: letter. Toman, business manager, has not | negligeice rene looal stand at ‘A musical program featuring sev- hollowing eommencement exercises| mencement address and.the present Schon was sentenced October 18] yet bi Gecided upon. Vern | meee eres cral soloists will be heard from f the Bismarck ‘high school on| tion of diplomas will. be made b y | 1916, to 10 years in the state pene] Nichols has been appointed adver- WELO, the Twin Cities” station, at Thursday. June 2, the Squirrel club| Father John Slog. ipngig? “nd was pardoned August tising manager. q What Js G yom. A New York program will Will entertain in honor of its senior!” ‘Mies Sabina Brown tothe aaiel?” bh Reporters are Maude Hoy, : f a be rebroadcast at 7p, m. with a mu- | Mappers with a party at the Country | valedictorian and will give an adel gh eine Killing of Mra, Robin-| Light, Clara Morris, Alvera’ Ander- * 5 ANGERS eerie My and aj © ees ve | drait The complete program fol- asked that Peg ae Meteat Mary oe it see 4 “ier, Diuretic? i al ay ae dena ata | VISITS SISTER HERE Spinme duit : |care for his victim. garet Smith, Charl Ay | r } 5 i Blow... ...Glee club i ? P WAMD 244) Minneapolis, has a! y Mit Auten Underwood of St. Paul, pummer, Winds Rachmaninoft wits Rnd, planned to, kill nimseit|Hess, Jeanne MeGinnis, People Are Learning the Value of musical feature at 5:30, a dinner ¢on- | Minn, ed last night to spend ret Barrett Tere in, Dorothy Rosen, Walter Schulte, ‘ Occasional Use. on Mrs. Robinson but admitted} Lila Clark and Verner Pavlik, cert "15: : several | : let cert “at 6:15; musical program at 8 | Several weeks as the guest of her) Valedictory ~Sabina Brown| he “didn't have the nerve.” ‘Stan oe a mea: Ed p.m. WHRM (2%) Minneapolis, has Sister. Mrs. “A. W. Bartlett, of 717! Barearolle w+» Godard] iy i ea ti aull VERYONE, 4 popular program at 8 p. m, and | Fourth street. 3 F { Beatrice Helms- stimulates: banjo orchestra. for. 9:15. WDGY | a ar The End of a Pertect Daj—Senior; Packard. Funeral Harold Larson and Ears ee (268"" Minneapolis, “has a musical 4j¢,f/8RE ON BUSINESS | girls, Wi : eantaetices oe, Aime to the kidneys. Under rogram at 8:30 and varied programy Apired nds “Bum cat Olson and | Address and presentation Bf iptoimas ill Be Wednesday dghinen, = AAT Sasaders and Flor- the strain of our modern life; Pi Bart | city attending to business interests.| yhore’ are 13 students ‘ a. : oe are apt to become : wh be i : : : : tudents of St. Mai Devils Lake, N. D., May’ 24.—Ue)— KYW (536) Chicago, hi udio ee will go to Minneapolis ' who will receive their diplomas Frit| Funeral services for My rs, Georgia smite. Program at 8:30 and 9:30. ° WBBM . |day evening. They; pure: Parrott Packard, 63, secretary of the| MAES: V. Marcell More and more Loa tt ‘Sabina ieago has an artist recital | fe ep aly Brown, Eunice Venne, Helen Lam-| North : couse fpen 6 Sabah fp Ne Mr ue iy Rohl Hd an, Bent, ttt ne | Aides mate, eek gee] Dies Here Sunday ‘= i$ Pom, . spect anor off, rgaret arrett, | fo! a tle sti ill oe a i several. weeks as the pucke ot haa, AERC wale Rare Fisleyaen, genducted "trom, the Sire ‘Of ene ‘ to ag Valentine Marcell, 48, died ENR pe HRs | sister, Mrs. W, H. Sherwin, 411 Ninth is oi -Sehreiner, vent dnest ‘afternoon at, 1 unday evening following an|, past soldi Ee eS - Noes nag! atreek armen, nth | Alex McKinnon and" George Jasz-| o'clock with’ Rev. Br. E. A. Langfeldt; iifabes of several months. She was we} | bis E kowiak, ss Sai jis | pastor, officiating. f Operated on for gallstones a week-ago ae) c Benger hes, appeal Program| EN ROUPE TO PITTSBURGH | ——$—$—_—_—_— ‘The boily willbe sent tomorrow ‘again Saturday but failed to Bae caters, cal) , Forest Hooks of Beulah, who has! Play Ig Presented Bight te Renwick, lows. where inter-| rally, : eli epg d a musical | peen vi friends here for several | ment will be le beside the graves | ~ -leaves, beside her husband, 10 eee - a arning for Pittsburgh, ‘apaci' House of: het husband: the late A. M. Pack. ren, al] but one living in ‘the WLS (345) Chicago, hus an or-| P& Where he wil opend a few weeks,| to c pacity . e Pico wd anene obits Mefaitan Handa fii see son ves »chestra at 6:20 p. The pla: Stitch in Time,” D , ‘Montana. ey # TO FARGO » in Time,’ | years ago, and their only child, a]. Funeral services were held this Caan Aa Prey ed Pi roadesst u|, Miss Emma Dater will go to Fargo | Presented fy, the W..W..G. of the ie, who died in infancy. “'' ’* |'morning feom ‘St. “Joseph's Catholic studio progtam at 7 p. m.; accordian| t™9rrow to attend the grand lodge | First. Baptist chureh last evening, ler only survivor, Prank E. Pack-|ehurch, ape and-:baritone at 7:45 and a concert| 22ssion of the A. O, U. W., which is| Wa8 a, success in every. way. The. sy of Chica lephew of the late FETC ate WT WHO (526) Des Moines, will tea-| yi. ON BUSINESS TRIP 8 Cperhradbe ete apintet At 1:35 8) Minot toniorrow: where she. will at. at 8:0 and 11 ‘p,m. KTHS|%Md to: business interests for the Gia a Bet vp lle Mie got rest of the week. : & =. = by Eicon iP sgneced were: e) sf. night by at il ince music at 9:20 and Fer! to court weitere F ' of court of Wells TUESDAY, MAY 24, 1927: session of: the grand lodge in Far- are the. aia Mr. and rs. I. Ts Larson, J. W. Huff, A. C. Niebaver, Mr. and Mrs. E. W. Block, Mr. and Mrs. J. Marcovitz, and Mrs. ‘A. .Brazda. The four- teen members of the drill team are also in attendance at the session. shall prosecute,” Mr. Kelsch said. “If not, the matter will be dropped.” ‘ Personal and Social News of | Mandan Vicinity. TO RETURN THIS WEEK TO GIVE ‘ADDRESSES ’ Mr. and Mrs. J. H. McDonald| supt. J. C, Gauta of Manden high and daughter, Eleanor, will return} school will go to Beulah Thursday this week from Califcrnia \and| night, where he will deliver the an- Arizons. “Mrs. McDonald under-| nual ‘commencement address we, is i i -| also to speak al Fant tro nen ene vie eaee night, with the title of his talk, “Step. ing the winter at the hoi f Globe, | Ping Stones.” -Nine are vo be grad- perettaden pie cig neat 4 " uated at Halliday and 14 at Beulah. health. ‘Mr. McDonald and daugh- ter have spent the past three TO. FORT. SNELLING i rt. ..Emmet McDonalc,. son. of. Mrs. weeks in the wes! Ghcar Merch’ ch mae ee eS a ATTEND MEETING been on duty in Fiirgo, has been Members of the Mandan A. O.j prometed to staff sergeant and or- U. W. lodge who are attending the} dered to report at Fort Snelling. GOITER 106 them of If your children are among those who contract simple goiter (and in some cities 70% have it), you alone will be to blame. Prevent this common cause of physical and mental backwardness by using... MORTONS "FSi IODIZED SALT larris-; FOR WOMEN'S WEAR Bismarch. No. Dak Continuing Our May Clearance Sale \ Coats - Suits Dresses Our entire stock of all seasonable goods to’ sell at prices unprecedented. This is an event’ of unusual significance because all the merchandise offered is quality merchandise. Every item has quality value and is greatly; underpriced for this sale. \ Dresses, $15.00 $19.75 $2450 ng