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* | Billion to Help Bigindss + to Help Business and Farming Its purpose is to assist its members banks, of which we are one, in help- ing the farmers and business men and to make general banking conditions as sound as possible. If you are not yet one of our depo- sitors and getting its benefits and” protection, drop in and talk it over with us. (ae NATIONAL BANK COTTONWOOD, IDAHO 2 The funds gathered into the Federal Reserve Banks now aggregate over $5,000,000,000. This vast sum was not accumulated to earn profits for private interests, nor can it be controlled by private interests. ELEVENTH ANNUAL Livestock Show AND SALE NORTHWEST LIVESTOCK ASSOCIATION ——HELD AT—— LEWISTON, IDAHO November 9th to 14th I? ee, A Livestock Show that reflects the progress made in pure breeding. Northwest. BIG SHORTHORN SALE BIG HEREFORD SALE A credit to the great NOVEMBER 12TH NOVEMBER 13TH Approximately $50,000 paid in cash premiums. Many Special cup and ribbon premiums, New buildings have been completed including horse, cattle and sheep barns and a new water system and wash racks with hot and cold water have been installed. Bath and toilet facilities for herdsmen. VISIT THIS SHOW AND VIEW THE LIVE- STOCK OF NATIONAL REPUTATION PREMIUM LIST ON REQUEST THOMAS F. WREN President 0. P. HENDERSHOT Secretary Take Advatage of the Reduced Railroad Rates BISHOP ALONE SAW GHOST Hoax Cleverly Carried Out by Noted Ecclesiastic Is Recalled by a British Paper. The great Bishop Wilberforce was staying at a great country house. As he took his hostess down to dinner he glanced behind him and saw five cou- ples following, and last of all an ec- clesiastic in a monk’s costume who was strange to him. He remarked to his hostess, “I see you are not superstitious about sitting down thirteen to a table.” His hostess went deadly white, and said, “For heaven's sake say nothing!” Sitting down, he noticed that only twelve seats had been placed, and a moment after saw the supposed monk standing behind the host's chair. It was not long before he realized that no one but he saw the figure. After dinner the host explained that the monk was an apparition which none but the head of the family, in each generation, had ever seen, and that its appearance always foretold disaster. The next day the same figure ap- peared to the bishop in the garden and explained that in life he had been con- tessor to a vre-Reformation head of te tamily and had been reading a written confession from a_ penitent. Being suddenly called away he had slipped the confession into the volume of the Fathers he was reading. He had died suddenly and could not rest for fear It should be found and the secrets of the confessional revealed. He exhorted the bishop to find the confession and burn it unread. The bishop went to his host and said, “I do not know if you have a library. I do not know if there is a volume of such and such a Father on the shelf 1 name, Come and look.” They looked, found the book, found in it an old manuscript, yellow with age, and burnt it. The monk never appeared again, Bishop Wilberforce told the story. But he was a wag, and among friends he never concealed the | fact that he himself had invented the | entire tale for the purpose of seeing what people would believe if told with a sufficiently grave face.—Manchester | Guardian. Nothing of the Sort. “Is this proposition of yours, sir, a tentative one?” “Laws, no, brother; It’s merely @ tryin’ out of the idee.” = a TELLS SENATORS ABOUT BEEF COSTS | This May Throw Some Light on the Price You Pay for Beefsteak. Testifying recently before a body of senators in Washington, a vice-presi- dent of one of the large packing con- cerns (F, Edson White of Armour and Company) made the astounding state- ment that so far in their fiscal year, which would cover the past eight or nine months, his company had “made! no money whatever on beef.” This statement is doubtless well nigh incredible to the average man. Yet it was made in full knowledge that the senators had access to the com- pany’s books, Recovering from the first shock, this same average man will say, “Yes, but the packers are shrewd; what they do not make on the beef they more than make up on the hides.” But even this illusion was destined to be shattered. Mr. White explained that his statement included everything that was derived from the steer as purchased—the hide, fat, even the in- testines which are used largely for sausage Casings. Make Money, Nevertheless. Well the packers make money—how do they do it? Mr. White admitted that they did, quoting figures secured by auditors of the Food Administra- tion, to the effect that packers’ profits on food commodities of all kind last year were 1 6/10 cents on each dol- lar taken in. These would include such things as sausage, shortening, canned meats, ete., in addition to fresh meats, hams and bacon. On all the products of his company, Mr. White explained, comprising both foods and inedible commodities, the profits dur- ing the same period were 1 8/10 cents on each dollar sale. All of which would lead many to say that the packing business is not well understood. It isn’t. Yet as one of the leading industries of the coun- try, its workings and, above all, its profits, should be familiar matters to us. It is quite useless to orate against the high cost of living without digging into some of these fundamentals. By-Products at Market Values. One of the most enlightening bits of Mr. White’s testimony was his ex- planation of the way in which cost price of beef is arrived at. If a steer is bought at $125.00 and hides are bringing $16.00 in the open market, then $16.00 is credited to the cost of the steer, If hides are selling at $23.00 that amount is credited. The visceral fat, offal and everything else that comes from the steer are likewise credited at their prevailing market values, What remains is taken as the cost price of the meat. The beef car- cass is then shipped to one of the lo- cal distributing branch houses, and the manager there is given the cost price with instructions to sell the beef at a profit if he can. But in any event, whether the local market be lively or dull, he must sell for what he can get, for the commodity is a perishable one and must be sold. Manufacturer's Profit on By-Products. However, there is another hitch to the packing business, quite as little understood apparently, that goes to show how a loss on fresh meats may be accompanied by a profit on the to- tal amount of business done. Take, for example, the banjo strings afore- mentioned, which are made from the intestines of sheep. The department that makes banjo strings (and like- wise surgical ligatures, tennis strings, ete.) “buys” the intestines from the sheep-killing department, paying ex- actly the same price that these bring when sold to the outside market. On this basis the string department manu- factures its strings and sells them, bringing a profit into the business. In like manner the fertilizer depart- ment buys blood and tankage; the soap department buys fats; the glue depart- ment buys hoofs, horns, bones and sinews; and so on through the list of “by-products.” The fertilizer, the soap and the glue, just as the music strings, bring in a manufacturer's profit. In all cases these by-products, whether they be sold to outside man- ufacturers or to one of the manufac- turing departments in the business (at the same prevailing market price), are credited to the cost of the meat por- tion of the animals, just as in the in- stance of the hides mentioned above. Thus the “utilization of by-products” system of which we have heard much, and the method by which it is con- ducted, show the packers’ manufactur- ing profit on a great variety of com- modities ranging all the way from pharmaceuticals to glue, do, in reality, bear the burden of fresh meat prices. 8888s BeBe bin BeBeebicBen terre Senator Kellogg, of Minnesota, in discussing maladministration of railroads by the Government,; said: : “There never was a want operation that was not wasteful and Inefficient. It is Inevitable un-4 der our organization that it should} be so. It is not the province ors the prerogative of a Democracy ¢ like ours, instituted for the best} Government on the face of the earth, to manage the business of the country.” —Congressional Record, Aug. 5. Hussman Lumber Company “Building Doctors-—-Consultation Free” Specializing in the Toning Up of Run Down Homes. Correction of Dislocated Kitchens, Wardrobes, Stairways, Etc. : In fact all ills pecular to the old style house. —_S—,, ADVICE Strictly Confidential Hussman Lumber Company “The Home Builders” Princess Flour IS TH BE Ss IF YOU NEED ALFALFA HAY LINSEED OIL MEAL EASTERN CORN MILL FEED STEAM ROLLED BARLEY STEAM ROLLED OATS COTTON SEED CAKE OR ANY OTHER KIND OF FEED, CALL our Warehouse Don’t forget the Livestock Show, Nov. 9-14. Vollmer-Clearwater Company D. Ds WEINS, Agent The Chronicle The Family Paper $2.00 Per Year Circulates among Farmers and Stockmen Lewiston will make Chicago jealous. ime pr 9 no os ree Satan cepa eereeess