Casper Daily Tribune Newspaper, November 5, 1923, Page 8

ee rea €be Casper Daily Cridune MEMBER THE ASSOCIATED PRESS The Associated Press ts exclusively entitled to the Use for publication of all news credited in this paper @nd also the local news published herein. The Casper Daily Tribune issued every evening and The Sunday Morning Tribun ery Sunday, Wyoming. Publication offices: Tribune Bull site postoffice. 1K, OPPo- Entered at Casper (Wyoming) postoffice as second class matter, Novernber 22, 1916, Business Telephones _-......__.__---_-----15 and 16 Branch Telephone Exchange Connecting All Departments. By J. E. HANWAY Advertising ves Prudden, King & Prudden, 1720-23 Steger Bldg., Chi- cago, ll, 286 Fifth Ave., New York City; Globe Bidg.. Boston, Mass., Suite 404 Sharon Bldg., 55 New Mont- gomery St,, San Francisco, Cal. Copies of the Dally Tribune are on file in the New York, Chicago, Boston and San Francisco offices and visitors are welcome. ———— Member of Audit Bureau of Circulation (A. B. ©.) ps ceric ana noted vance ta ae DES) SUBSCRIPTION RATES By Carrier and Outside State an One Year, Dally and Sunday —- she eet One Year, Sunday Only _- a 2. onwwnne 4.58 Stx Months, Daily and Sun Three Months, Dally and Sunday .-- One Month, Dally and Sunday ---------——---—-— w—a-- 2.2 16 OF One Year, Daily and Sunday _---_. eran tt) One Year, Sunday Only ———-—---—-—-—--———--~ 8} Bix Month, Daily ané Sunday —.—.-——-—-—-- $49 ‘Three Months, Dally and tnd oe Cd One Mont Dally and Sunday ---------.---— all cabeceigees must be paid in advance Daily Tribune will not insure delivery after subscri> tion becomes one month in arrears. (Trading in Futures argument in behalf of government inter- pieate with trading in futures is that much of this trading is purely “speculative” in the sense that the traders have no intention of either de- Jivering or receiving the actual commodities. The answer to this is, first, that there is no pos- sible way of determining at the time a contract is entered upon whether the parties intend to stand upon it to fulfillment or not; in other words, there is no way for distinguishing be- tween so-called bona fide and so-called specula- tive trading, and it is a poor remedy to abolish! both; second, that every contract is in fact bona fide, protected by guaranties and cancelled only by a subsequent contract of opposite effect. The intent of a trader makes no difference with the economic effects of his purchases or sales. More- over it it entirely legitimate for a trader to close ont a future contract before its maturity, either because of changes in the market situation or be- cause he has changed his mind. There is no rea- gon to suppose that the public is unfavorably affected by the exercise of such individual free- dom; on the contrary, it is probable that the concensus of opinion as thus reflected in a free and broad market is nearer right than the opin- fon of any small group, even if it be an official regulating body, is likely to be. It ig not a sound argument against trading jn futures on the organized exchanges that such trading is participated in by many persons who do not expect to receive or deliver the actual commodities specified in the contracts. Ware- housing and distribution are functions distinct from one stage of the marketing process to an- ether, which always involves the risk of price changes. It is legitmate to buy a commodity at ne Keason of the year for tie purpose of selling | ater at a higher price, or to enter into a con- tract to deliver a commodity at a future date at a price lower than is ruling when the contract 4s made, likewise in the expectation of making a profit. The justification for such operations 4s the justification upon which all business must rest, to-wit, that it serves the public conven- jience and welfare. Such operations tend on the whole to stabilize prices and to prevent manipu- lation, rather than as alleged by caual observers to cause fluctuations and favor manipulation, particularly when as in the case of wheat and cotton great quantities coms on the markets rapidly and must be distributed over the year.) Contrary to a common belief, the fact that a| iven quantity of a commodity may change} finds many times on the way from the produc- er to the consumer does not signify that every dealer makes a profit on it; or that the cost to the consumer is increased. It is possible that every dealer may lose money on it. Prices at} any given time ‘© not dependent upon what} things have cost, but upon the market conditions at the time. The fact that a dealer has paid a given price does not enable him to get that price or a higher one, as every dealer has learned to his sorrow. And so the price to a consumer is not affected by the number of middlemen who! have handled a particular shipment or what they: have paid for it. If there is a loss, it is the same whether one middleman or a dozen bear it, and! if there is a margin of profit it is the same: in either case. Of course efficient methods of dis- tribution will reduce costs and selling prices, but neither law-making bodies, attorney-generals nor courts can increase the business man’s eager-| as close to the source as he can when uving in doing so. There oue elemen: uf truth in the allega- tions against the system of trading in futures, and that is that many persons trade who have not the qualifications to do so intelligently and whore operations therefore instead of contribut- ing to make the market reflect actual conditions, tend to confuse the situation. Unquestionably, there is a great amount of uninformed specula- tion, which is not only harmful to the specula- tors but to the public. But there are people in all kinds of business whose operations are neith- er profitable to themselves nor advantageous to the public. It will not be claimed that any line of business, taken as a whole, is conducted with ideal proficiency, nor is it practicable as a gen- eral policy to set up standards of proficiency before permitting persons to do business. It is scarcely practicable to hold an offic: tion to determine whether an individual should be allowed to buy and sell wheat on his own ac- count. If he goes wrong in his operations he probably will be punished more severely than any court of justice would think of penalizing him, and whatevér injury results to the public must be accepted as incidental to the system of individual liberty which on the whole we believe in, but which we are well aware involyes some inconvenience and cost. The Self-Starters With the return of Senator LaFollette from his self-appointed inquiry into European con- ditions all the “self-starters” in the présiden- tial race will be within the jurisdiction of the United States and the land should soon be filled with the buzzing thereof. During his absence pthers have been attempting to encroach upon Casper, | 1 examina-| his preserves, by overtures to the FarmerLabor party and other contingents in the Cave of Adul- Jam, but this has not been serious inasmuch as the main rivalry so far has been confined to ford Pinchot and Henry Ford to gain the shout- ing support of the prohibitionists. The point of view of these two rivals is some- tion that if the law is not enforced in Pennsyl- vania or elsewhere, it is the fault of President Coolidge and, as he does not expect it to be sat- isfactorily enforced, he, of course, looks for pro- hibitionists to flock to his banner. Henry Ford has spoken only incidentally upon the subject, but it is evident that the thonght he has in his head, is that if he turns ont 6,000 automobiles a day, in addition to the output of other concerns we shall meed prohibition to avoid accidents. The Washington correspendents claim that Senator Johnson of California began to feel for the self-starting apparatus the moment it was announced that Secretary Hughes had consented to co-operate in an advisory inquiry into the European question of reparations. It has been generally supposed that Senator Johnson would be compelled to wait fdr President Coolidge’s frst message to congress in the hope that be wo IC advocate American participation in the World Court, but it is possible that the Hughes froposition of international inquiry will make an earlier Johnson start possible. Senator LaFollette can start at any time. “No pent-up Utica” confines his opportunities for self-starting. He has to wait for neither events nor the declarations of others. He has the per- petual ills of the nation always with him, even those ills of which the nation is quite uncon- scious. He will arrive shortly, and then there will be four self-starters. Meantime, President Coolidge is proceeding quietly and quite success- fully, just as if there were to be no presidential election next year. He requiries no seJf-starting apparatus, for he is already under natural head- mer. That is why the self-starters are busy buz- zing. Preparedness Means Safety America should not neglect the lessons learn- ed in the world war. We should adhere closely to the policy expressed by Premier Bruce of Aus- tralia at the imperial conference in London when he said: “We must never again be caught in a war, depending upon foreign nations for our food and raw materials.” That sentiment ap- peared to be the keynote of the meeting, and measures were discussed for carrying the policy into practical effect. It is likely we shall soon see a tariff on foreign goods entering many parts of the British empire, and the drastic re- duction or abolition of all tariffs between the British dominions. The war taught Great Brit: ain a lesson that will not be forgotten. The same considerations apply to our own country. The Republican policy of protection to American industries is not alone for the pur- pose of providing employment at good wages for American workmen, it is to strengthen our defensive equipment and make the nation inde pendent of foreign sources of war supplies, Pro- tection to home industries is one form of pre paredness. The war found us woefully lacking in the materials for the manufacture of explo- sives. The tremendous Muscle Shoals project was built for the primary purpose of making the United States independent of Chile as a source of nitrates, so indispensable in the production of powder, The emergency construction of the Muscle Shoals nitrate plants was made neces- sary because there had not been sufficient tar- iff protection in the past to encourage private enterprise to undertake nitrate production. The same may be said of the various gases and explosives that are derived from coal tar. Before the war Germany had practically a monopoly of the trade in coal tar dyes, there never having been a sufficiently high American tariff to en- courage private experimentation and produe- tion in this country. When the war broke the German dye plants were immediately converted into munition plants. The sudden stoppage of the German dye supply to this country acted in precisely the same way as a prohibitive tariff, and our own chemiéal engineers promptly set to work to create a domestic supply. In that they have been eminently successful, and today practically all the German dyes have been du- plicated and the American dye manufacturing plants can be converted over night into estab- lishments for the manufacture of war muni: tions. 3ut bullets and powder actually fired at an enemy are only a small part of the supplies and equipment that must be furnished in time of war. Clothing, food, machinery, lumber and manufactures of iron, steel, and copper must be purchased tn enormous quantity. If the contest must be carried on overseas, adequate shipping is vitally necessary for the transportation of armies and for their maintenance. Seriously handicapped is that nation which can not com- mand all of those essentials for waging war, but must depend upon the good will of other coun- tries for material aid. Byer since its foundation the Republican par- ty has been aware of that truth, and has been ing to the people of the country at every election the imperative need of a protective tar- hire to encourage a wide diversity of industries and to shield them from the destructive effect of cheap foreign competition. The people are be- coming increasingly aware that not only their prosperity but their actual safety He in the adoption of the Republican doctrine. In Great Britain the policy of industrial independence has the approval of the home government and of all the dominions. In the United States every state vught to support ths federal administration at Washington in attaining the same end. Need Money Not Wheat American proposals to ship great quantities |of wheat’ to Germany and to undertake famine | rellief on a large scale, which has been the sub- | ject of discussion at the White House and else- \Wwhere, evidently are founded upon a misappre- hension of the situation in Germany. There is no shortage of grain in Germany, nor ‘any prospect of such a thing for months. On the contrary, the granaries are jammed with do mestic wheat from one of the largest crops of the last decade. This condition has occasioned the | cynical epigram of an agrarian leader in his at- tack upon government measures, “the people are |starving with full granaries.” The problem, like almost every problem. in Germany today, is one of finance—the movement of grain on the market being hampered and vir- tually stopped by the refusal of the farmers to sell their crops except in exchange for stable currency, such as dollars or gold loan certifi- |eates. Plenty of domestic wheat and rye is offer- ‘ed in the Berlin market for real money, yester- day’s wheat price being 154 gold marks a metric ton, or approximately 94 cents a bushel. But there were few buyers owing to the difficulty ot} ‘financing payments. | what different, however. Pinchot takes the posi-! Spuds In Danger With a temperature of 8 above zero last Friday; four below sero Monday evening #nd 1 above zero Tuesday evening, it looked dubious for the spuds. A tow will tell, as the harvest wil probably open up at once if the spuds prove to be undamgged. The late frost was the contribut- ing cause to the potatoes the proper thing several weeks as this would have ripened the tatoes and allowed them to be dug much sooner. To Save Crops LANDER—The first cars of sugar beets to the Great Western factory at Mitchell, Nebraska, go out to- day. <A loader was furnished by the company and the beets are being hauled in despite the snow and bad roads. That portion of the crop al- ready pulled will be saved though at some additional cost for rehand- ling under bad weather conditfons. Iams Brothers and other farmers are still trying to harvest the crop by removing the deep snow with heavy drags, but the fact that the ground underneath is so wet, is a great hindrance and the work does not appear to be very successful. Most of the potatoes In this seo- tion have not been dug and this Top appears to be practically lost. There is still a possibility of com- Pleting the work of threshing grain that has not been too badly dam- aged, if the weather clears up some what. Most of the cattle have been put on feed as the pastures are all buried in_snow and the sheopmen would It Happened In Wyomin Matters and Thinge, of State-Wide Interest, Wired in, Telephoned in, #ritten, Grape-Vined and Some of It Purloined. - ‘The fine weather of past is very encouraging to C. mar and others in charge may hone to have iprings water at no far TO THE VOTERS — OF THE FIRST WARD - “Daddy” Baerthel, candidate for counciiman in the First Ward is not seeking political honors. He is after improvements in the residence sections as well as in the business section. One section of the First Ward, North Casper, is now badly in need of water, sewer, street lights and grading (not payne), Also more adequate railroad crossings, paid for by the railroad, not by the tax-payers. He pledges his sup- port to these measures as well as other necessary measures in the city. ; the express agent, Mr. Weekly nof to try to open the door of the safe until the nitro had been washed out, which was done. ‘The robbers have not been appre hended, ‘THERMOPOLIS— After three months and eight days the damage ; in the year 1922, 103 schools and 119 year the school cen- sus is 1,861 or = gain of 1,461 indt- average gain of slight- 150 children each year. should there be no further tm school children, the cond!- of Campbell county high school is such that provision must be made to accommodate the large en- rollment that has developed during e inst few years. What do you think of it? Work of Yeggs THERMOPOLIS—Robbers_ enter- ed the express office at the Burling- ton depot and tried to dynamite the safe. Two attempts were made but neither succeeded in blowing the door off. The robbers had entered the freight house earlier in the evening before coming to the depot but had not tampered with the safe. The money drawer in the depot was pried open and about one dollar in pennies stolen. Chas. Canright who was going homé about midnight saw a man at the depot and reported it to the city police depertment. Sheriff Berry was called and with the city officer went to ths depot but the robbers had made their escape. Nitrogiycerine had been used in trying to blow the safe but the men were evidently inexperienced as they had used enough explosive to wreck the depot but were unable to blow the door off the safe. An examina- thom of the safe revealed nitro éripping from the crack around the door. Mr Osmbaugh, an expert with nitro was called and warned and Billings as well as between Bil- lings and Omaha via Casper. The first flood put the road cut of commission on July 23 and when the damage was about repaired an- other flood in September washed out a great part of the repairs. Thermopolis has been cut off en- tirely form the gouth for three months as far as freight shipments Were concerned. Passenger service ‘was maintained most of the time to Bonneville where the passengers were transferred to Shoshoni and routed to Casper over the North- ‘western. ‘The lack of freight service to the south has been the cause of a great deal of loss to the Basin country as it has delayed the shipments of live. Stock as well as making {t impos- sible to ship coal to the market of the south. The Burlington made every effort to repair th break in their line and have had a large crew at work for three months. The damage to their track and equipment will no doubt reach near @ million dollars. Their Water System RAWLINS—Work of refilling the big ditch along Cedar street as far erst as Fourth street has progressed thru the week without interruption and further ditch has been extended eastward at a rapid pace. All lateral work {5 virtually completed as the big main goes in, so that as soon as this protect reaches the Part of the otty near the old water werks systers ditching work within the city limits wit have been finished. Mr. Baerthel for a number of years was a partner in the See Ben Realty Co. About four years ago he sold his interests to Cecil Bon and has from that time until about a month ago, been employed as an agent of that reliable firm. He probably knows conditions from the small property owner’s standpoint better than any man in Casper. It is to the interest of the property owners to vote for Louis J. Baerthel next Tuesday. (This space donated by property owners) <—s> Never Such V WINTER FOOTWEAR at Clearance Prices We are continuing our sale of men’s and women’s high-grade Shoes through this week. See our great values and you will decide to pur- chase your winter's supply of foot-wear. : a OXFORDS—Brown and black kid, mili- tary heel oxfords. _. 95.45 Welted soles ... BLACK CALF PATENT TRIM OXFORDS—Welted sole. Makes a fine street oxford. __ $5.95 At BLACK SATIN PUMPS in the best grade of satin; nice dressy patterns with Louis, Spanish and military heels, which re as high as $9.50. a $5.95 BLACK SATIN PUMPS in beautiful strap patterns, Mae Spanish heels. sae comes 80 Regular $10.00 values. Kesular $20.00 values __ $7.95 | cavies wich sHors—piack xia, Louis heel. 38% and 4. High shoes. Sizes 214, 3, —...9d€ BLACK AND BROWN KID, military heel, high shoes. Regular $5 95 e $8.60 values. At. KID HIGH In Cousins Modish. Very special $9 95 Men’s Shoes Men’s black and brown Winter Oxfords in a heavy calfskin. $6.95 (yar a Sa French Men’s brown and black calf. and English last shoes, $5 95 e Regular $8 and $8.50 values 40 PAIR OF BLACK SATIN PUMPS in broken lines, carrying military and French heels. Very special. $3.95 At eoinescsyo es PATENT LEATHER PUMPS—Black Patent Leather Pumps, with Spanish and Baby Louis heels, including several num- bers with and without iy ye Rae A pam a et _ $4.95 EXTRA 100 PAIRS OF LADIES’ FELT SLIPPERS, per <ir. 91.00 Buy your Christmas presents from this lot of high-grade Felt Slippers. BLACK KID PUMPS—Black Kid Pumps strap and pump patterns, with high and Men’s black kid Shoes, in English and ioe heels. a $6.95 broad toes. ‘i $5.95 The BOOTERY “Your Feet Will Bring You Back” Phone 1730 124 East Second