The Bismarck Tribune Newspaper, October 6, 1927, Page 10

PAGE TEN | FXPLAINS HOW STATE MILL ELEVATOR ( HAD LOSS OF OVER $420,000 IN 1926 \uditor’s Report Gives Rea- sons For Size —Says of Additional Facto How the state mill rolled up a loss of § 1926 is explained in de Lund, ex of auditors operations of the i six month period end ! for the pe jon Lund wen to ascertain why the m the report mimitt made public a month ago. to th 1 by it vers, Lund a In th o th other mills due ate mill and cle quantity of flour sold a h from one to two do low cost, thereby for independent mill of their produ a lowering of price of throughout the Northw d indirect loss is that. sustai » unable to buy m e b s to ted with Joseph compan it could produce. Of ihe los mated in mone: due to the sale to the corporation of Boston, M 000 barrels of flour two dollars le production. On these the mill 11. re 26.84 in of wheat purchas is sum was listed by idland company as the re: i ms with the mi Joseph company for the D0 tons of mill feed. said, was sold at from two to th dollars below the price current Minneapolis when deli feed was made. In addit' ton, the report shows. Operation Sati: ting that the mi ion of the mill wa inasmuch of millin: s less that period than time; that the flour wheat ground was sati that the mill mad sold in North Dakota ritory urrounding Lund s: “The only that ¢ has mostly been in the tr Minor additional are grouped by Lund in the ing paragraph of the report: ure many Id. lin; lly 1 interest, the bus is in polities, and e: les: ism. en for the ex: state mill the la stantiated. Industry on Upgrade pacity of flour mills losses in the flour mill after the war was over. since the cl ec of the war. “To bear this out, the following statements published in the August 31, 1927, issue of the Northwestern Miller or page 845, giving public of two of the notice of the profi Defici e finding sue n-| ification he places losses a barrel be- ing it harder dispose and contribute to i wheat} mentioned | t by! loss, the state mill made a cash pay Joseph company of $10.- unable to fulfill Mill feed contracts} which it was unable to fill were can-| 24 celled by the mill at a cost of $7 per 1 in| back into the ill sin > tol to that branch of } oper- ne he} ry | ill e- it from one to} Jy than the cost of| » Lund’s ae than! ed. | ing and general expense, the Joss ex- {on S) Year ending De: of the country have reported hav been equally prosperous for the } vi ow a condensed statement ions of the or combined, the pe ing expense and of the mill and elc ly reduced ié with the | year 1926; om of the manufacturin, at the | dling proce: 5 ttadings for Troub » flour yield from the wheat bly ground seems to compare f for the year 1926 with other y tion records los cessive the rel is th x statement ts of the began , Lund with showing operation si production in Octobe hows the manu the attendant lo: clusive of construction bond inter- t and the loss including the bond These items are shown not but onthe basis of the item for €s interest. T in tote per barrel on year. highest per for the first and the next highest was 7 per barrel for 19% lowes loss cents for the p t 1 to Decembe The losses by period: each aie of Minneapolis in the following table: | io deliver to it more mill feed than} Oct. 28, 1922, to Ju | Aug. 1 to Dec , 19: (x) represents average loss pe of di-) Lund as! est on ruing to the| tal deficit t mill is $1,2 The el It of | The third principal source of di- loss was the contract with the sale of | s, Lund) § re at of the! a. for any previous} from ki: of loss follow ‘There maller items that might ated that contribute to the financial loss of the mill, some 1 pected in kind, where the management has no personal finan- i more or is natural, there is apt to be political favorit- Commenting on the comparative records of the state mill and other, large milling enterprises, Lund said? “One explanation that has been giv- ive losses at the year has been that the year 1926 was an adverse year for the flour milling industry. From information we have been able to gather this theory has not been sub- “Due to the large increased ca- constructed during the war, there were some big busines This cor dition appears to be gradually ad- justing itself and tke large mills that survived seem to show better financial statements each year, and from information available to us it would appear that the years 1926 and 1927 have been the most pros- perous for the flour milling business i Minneapolis flour mills are cited. “‘The Washburn Crosby com- its sub- sidiaries report for the year ended June 30 a net income of $2,550,898 after depreciation, irterest and fed- After allowing for divi- dent requirements on seven per cent preferred stock, this is equivalent to $29.98 per share earned on 69,- ny, Minneapolis, and eral taxes. 553 shares of common stock. “ ‘Last 68,909 shares of common stock.” Pillsbury Dividends Good fiscal “After allowing on the stock convertible preferred 5: lizati tee aes, of the si - PAipke wet income of the Pills year ended J year the amount was $1,435,726, equivalent to $14.05 on - . Lund next cites a report of the Pillsbury Flour Mills company as follows: “The eitebary Piece Mole som pany reports a net profit o: ,766,~ 271 Po taxes and charges for the lune for dividend re- 6 1-2 per cent under lan of the 8, 8 conclusion be had is that the trouble! of operating offic In its operations for the first s months of this year, the mill, list ! : during the f ear but bond in- rged against it totaled 3, leaving it with a deficit This figu added s deficit of 51.7 al los to enterprise show d liabil 14 in inventory v mill products and $ 9.41 in ant, machin- and $17,381.61 in advertising and insurance: ies column shows liabilities; $18,15 bi : n} est on note | and milling bon ‘ $4,500,000 in co ue! ing bonds outstanding a | being the value of the donated site. ‘SWEET CLOVER Production Expected to Exceed That of Last Year by 15 Per Cent Sweet clover seed production is expected to exceed that of last year by 15 per cent or more accord- third week of September by the S. Bureau of Agricultural Econon, due mainly to a potential acreage in the principal producing distr: Notwithstanding the fact that there was a much larger total acr age of sweet clover than last y the acreage cut for seed was i due in the main ns Damage by fr and by he whipped the seed standing fields of ise prevented considerable harvesting in some of the seed producing districis. “arlier in the season growing conditions were more favorable than last year... In some sections growth was reported too rank for usual handling. Three hundred ninety-six growers | in the United State . whose aggre- gate acreage harvested for seed this | year amounted to 17,338 acres, re- ported yields per acre which aver- aged 240 pounds or about 10 per cent less than last year. Harvesting Begins Later Harvesting of the crop began later than last year. The average date at which harvesting began in various sections was reported by growers as July 28— southeastern Kansas, August 1— northwestern Kansas, August 8— northeastern Kansas, August 10— northern Illinois, August 11—north- western Iowa, August 24—north- eastern Nebraska, August 26— western and southeastern Nebraska, September 1 — southeastern South Dakota and western North Dakota, me of NC.» Owner! September 2—northwestern Minne- this amount is equival-|sota, September 4 — northeastern earned 0n| North Dakota, September 7—south- outstanding. the eastern North Dakota and north- astern South Dakota. In spite of ains in some districts for was $1,544,428, equiv-| and early frosts in others, quality a share on the present/is generally expectcd to be of no par common than that of last year. “Other large mills|considerably lower better When Mrs. M >| his dog, he cho: automobile whi CROP LARGER i | I at @ and, Walt with her and the dog t complaint. ar y Haglage of Kansas City aglage, wealthy furniture man, choose between her and the dog, her divorce petition charges. HE BISMARCK ‘TRIBUNE | Dog Wrecks Ship of Matrimony ity, Mo., demanded that her hus- One day he drove o the home of his parents and left her outside in the nd the dog went in for a visit, according to her nd Mrs. Haglage and the dog are pictured above. 1 the lowe ide the main q h the result t and car tI out v Production in Car much less than is due to s ing from the Imports of bien ve: dian Production Less s following winterkilling, Loss per bbl. | clover from Canada July 1, 1926- 6:3 June 30, 1927, amounted to 4,129,900 pounds, compared with 5,879,000 last year, 3,943,400 two years ago, 300 four years ago for the same period. Imports July 1-September 15 amounted to 170,300 pounds, Production and price information for North Dakota follow: North 461(x) time in the eptember 13 ing districts lie about 20 per cent greater than last year. August and whipped siderable late harvesting. ially last shipments were is unusually ly greater than last year. ida is expected last ye: The | maller acreage, plowing up of a year ago. fost $4.50-$5 per 100 clean seed on Septem! jal white sweet |ing date last year. FAMOUS TEAPOT DOME OIL LEASE CASE _ TO REACH FINAL STAGE ON OCTOBER 17 Albert B. Sinclair Will ¢ District Conspiracy to ernment | i} entanglement neuverings, jand ni arou And Washington, lover the record and toward the emanate fr ber wondering ing to reports received during the | ment will have any better luck in| | Justice Frederick L. Siddons, who s efforts to join ad in its effort to The 1-Sinclair third presentation ment oil cases befor Jeheny Was Fall 1 Doheny of conspir charg: tion with the Elk | afterw: made turned in that verdi jby canceling the branding the lease 8, Which | and corrupt and forcing Doheny to ©! pay back to the government more than $13, Then 100,000. Sinclair for all and Harry F. of Columbia preme Court on Charges of its long-drawn caree reports and rumors that | rom various counsel cham- ; | though the supreme court shortly the j was nportant | charges of contempt of the Senate refusing to answer The 20 on Trial in = ; Su- : Judge GREET «: Defraud Gov- legal quib- tponements case this ed the nation nearly five due to enter the last st casting an eye cocking an ear if the govern- Sinelair than it Jail Edward Fy) Vi try the Fall-Sinclair conspirac trial will be the Sane: of the govern-| during their investigation of the ‘Aequitied leases. He was convicted, and his were moni hed ppeal is now pending. sin connee No Predictions Offered re: Hills lease, al- Atlee jury that ict look peculiar Elk Hills lease, as fraudulent are making no_ predictions. decision to guide it. court ruling on the Teapot tried on questions Heating Stoves Parlor Furnaces . Ranges Kerosene or Pressure Cook Stoves At Prices That Will Astonish You All Kinds of Stove Fittings — Furnace Scoops — Fire Shovels Stove Pipe — Stove Boards LET US SAVE YOU MONEY Jarrell Hardware Prices offerec to shee Gos were in last year 316 Main Phone 18 4,039,200 three years ago and 3,567,- | Th Dakota—The acreage for seed in North Dakota ‘s stimated to Growing conditions in the main were more favorable than |last year, but frost the last week of heavy winds which out the seed from the fields, still standing, prevented con- In the T)western part of the state, where drought reduced production mater- year, acreage has been substantially increased. In the east- diern part of the state 105 growers harvested 9,595 acres for seed this year and 7,476 last year. The yield per acre was expected to be slight- Quality was expected to be equal to or ightly better than that of the crop Growers were offered unds, basis r 18, com- pared with $7.50-$8 on a correspond- Pomerene and Owen J. Roberts, special government coun- sel who are handling the oil cant e jury in this trial will be like the jury in the Fall-Doheny case in that it will not have the supreme court he supreme ome lease, which the circuit court of ap- peals canceled as tainted by fraud, will not be handed down until after the criminal proceedings are over. Anyone who wishes may bet on the government’s chances to beat Sinclair before the supreme court and recover Teapot Dome, but you never can tell about a jury of twelve good men and true. Pomerene and _ Roberts were sorely UE edi with the Do- heny jury, but as there are more technical and maneuvers in high finance involved in the pres- ent case they are not over-confi- dent of convieting Sinclair and Fall, They may even get snother jury none of whose members have ever read about the case in the news- papers. In the last trial, the prose- cution had use up nine out of ten challenges when the defense had used but four, after which they were helpless, for if they used the tenth challenge almost anyone could get on the jury after that. Would Like It Elsewhere The prosecution would as soon try this case outside of the Dis- trict of Columbia, where people vote, assume responsibilities of citizenship and do not believe gen- erally that it’s really no crime to gyp the government, On the other hand, the judges of the district supreme court where the trial will be held are all high-grade. Justice Hoehling gave a virtually perfect performance at the Fall- Doheny trial and Justice Siddons, who will preside at the coming trial, is highly respected. The trend of the government’s case probably will follow closely the lines of its civil suit to annul the Teapot lease, but different tac- tics are used in reaching the juror’s mind from those employed in impressing the judicial mind. It appears that the Fall-Sin- clair jury will not be subjected to a lurid picture of the i low peril bogey, that it will not likely at the outset to consider the hard- boiled Sinclair a kindly old man incapable of misdoings and that it will not be told that the $230,500 Sinclair is alleged to have sneaked to Fall was only a friendly loan from one old prospector to another. Difficult Task But it sat l be difficult Lo ce Vince an ordinary ju ron doubt that Sinclair bribed ‘alll. ie government would like to be able to show that Sinclair planked down a couple of hundred thousand dollars on Fall’s desk when the lease was signed, but it can’t. It will try to show that Sinclair passed the bribe by promoting the Conti- nental Trading Co., Ltd., which was used only to buy oil ready contracted for and sell it at a profit, some of said profits being converted to liberty bonds later brought to Fall in Pueblo, Colo., by his son-in-law, M. T. Everhart. A different method from that of sending Fall by hand a black bag containing $100,000! _The government, however, con- siders that its case is: strengthened by evidence that Fall allowed no competitive bidding for Teapot Dome and that Fall handled the whole lease virtually by himself, in a secret and high-handed man- ner. The defense will contend that there was danger of drainage if the government didn’t act quickly, but The 10th is the last day of discount on Gas bills, BEWARE THE COUGH OR COLD THAT HANGS ON Persistent coughs and colds lead to serious trouble. You can stop them now with mulsion, an emulsified creo- sote that is pleasant to take. Creomul- sion is a new medical di with two-fold action; it soothes and heals the inflamed membranes and inhibits germ growth. Of all known drugs, creosote is ree- ognized by high jical authorities as one of the greatest healing agencies for peat coughs and colds and other forms of throat troubles. Creomulsion contains, in addition to creosote, other healing elements which soothe and heal the infected membranes and stop the irritation and inflammation, while the creosote goes on to the st is ab- sorbed into the blood, attacks the seat et ths trouble and checks the growth of germs, : Lore rg is sperenced, satisfac: ory the treatment i coughs and colds, bronchial asthe, bronchitis and other forms of tory and is excellent for build- ing up the lem after colds or flu. Money refui if any cough or cold is not relieved after taking directions, Ask your druggist. (adv.) I y s BUICK Chev. . see ee Dodge . Ford . Nash... Oakland ...s:10 Pontiac .......+« Studebaker ... Whippet ....... Willys Knight . Wolverine vised inger, if any. Judging from its conduct of the Fall-Doheny trial, the government will not try to tell the jury that the court of appeals held that the Tea- pot lease was obtained, by fraud and corruption. May Not Take Stand Sinclair probably will not take the witness stand in his own de- fense as Doherty did. Sinclair wouldn’t tell the Senate what it wanted to know and he hasn’t tes- tified in the civil case. His atti- tude has been: “Try and prove it!” One new witness is expected to testify whose story may be of major importance. This is Robert W. Stewart, head of the Standard Oil Co. of Indiana. The govern- ment has shown that Sinclair, H. S. Osler, H. M. Blackmer, J. E. O'Neil and Stewart met in New York to organize the Continental company. The Missing Evidence Its missing link of evidence con- cerned details of this organization and Continental's subsequent opera- tions as they affected the bonds transfer. The records were burned when Continental was taken over by the Sinclair interest. Blackmer and O'Neil left for Europe. Osler didn’t provide the desi: informa- tion and Stewart was abroad when most wanted. Stewart has since acknowledged a subpoena for the Fall-Sinclair trial and it may be that the gov- ernment will obtain its first im- portant testimony about the Conti- nental Trading transaction on which so much seems to hinge. After a long search, Blackmer was located in Europe. Although the prosecution says Fall’ had been |he stands liable to the loss of $100,-|Blackmer is not expected to reti : ad: by various government ex-/000 in ‘und lay fe ai re that there was no immediate obtained by Bena eT dom’ Walsh, | way. to THURSDAY, OCTOBER 6, 1927 the trial tor Tom Walsh, | way to extradite hinnt Shh pled Do you want your Suits and Overcoats to wear longer and better? {f so, come here and see the wonderful values and assortment we are offering at $30, $32.50 to $45 _ Bergeson’s Allaround the great world, the Ask the owner of any Erskine Six what of 's is hethinksofit. 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