The Nonpartisan Leader Newspaper, April 7, 1919, Page 18

ADVERTISEMENTS Who Owns The Standard 0il Company? (Indiana) HE Standard Oil Company of Indi- ana 1S a corporation owned by the people at large, doing for the people, to the best of its ability, a big job 1n a highly spec1allzed branch of industry. The ownership is spread over them women—not one owning as much as ten per cent of the total. The 30 million dollars of capital stock represents a cash invest- ment of $117,509,465.00. Contrary to popular opinion, the Standard Oi1l Company of Indiana is not a close corpora- tion, owned and controlled by one or two rich men. You may become a stockholder —go to any broker and he will buy for you as much stock as you want at the market price.. 1 ‘Standard Oil Company il (Indiana) 1190 yALL THESE FREE 2832 eoret Locket and ‘Neck Chaln, Pendant fi and Neck Chain, imitation Wrist Watch B th Adjunnble leather strap and buckle o and these Four lovely Rin ‘ALL 6 ] FREE to unyone {or selling only 12 of 3 our Jewelry Novelties at 10¢ each, 4 !rom tumor; ln fashion. 8. 0. Dale Co.; mldnu. RL 3 i d ¥ % i Mentwn the Leader When Wntinz Advertiurl 42 AT P T R wm&wawmmmwmgfl e 4623 stockholders—2084 of 910 S. Michigan Avenue, Chicago, Ill. - A Farmer’s Loss in Bond Deals W. W. Cadle of Willard, Mont., Writes Leader of How He Lost a Much-Needed $70 EDITOR’S NOTE: The Leader publishes the following letter to " the editor as an example of what unfair methods in Liberty bond . solicitation do in cheating farmers out of their money for the benefit of bankers and money lenders. Mr. Cadle, writer of the letter, is a rancher of Willard, Mont., and, like thousands of other farmers, has assisted at various times at organization work for the Non- partisan league. He explains in the following letter how he lost $70 on Liberty loan transactions, “which $70 fell into the hands of money lenders, to their profit and Mr. Cadle’s loss. The Nonpartisan Leader always has advocated that farmers take all the war bonds they possibly could, not only as a patriotic duty, but because they are a good investment and because the cause of the United States in this war was just. But, on the other hand, we have tondemned and, will con- . tinue to condemn the unfair third- degree, strong-arm methods used by Liberty loan bond solicitors in some communities, and we know that Mr. Cadle’s case is typical of that of thousands of farmers. We hope that solicitors: during the next sale of war bonds, which we understand is coming soon, will réfrain from these unjusti- fiable measurés. We hope so be- cause we believe that such meth- ods do more harm than good in selling bonds and hurt the cause of the government. Following is Mr. Cadle’s letter: . Willard, Mont. Editor Nonpartisan Leader: It was a source of much regret to me at the time of the first and second Liberty loans that I was unable to take any of the bonds. But three crop failures in succession, from black rust in 1916 and from drouth in 1917 and 1918, had left me where I was unable to pay even the installment on my federal farm loan. TWO SONS IN FRANCE Then I was appointed superintend- ent for the National Nonpartisan league in western South Dakota, and when the drive for the third Liberty loan came on, I contrived to economize so that I bought a $100 bond. I was proud of it. It seemed as though I was doing my part more fully to aid my country, and to back up the two sons by my first wife who were fight- ing in France, both of whom had en- listed before they were of age. And in my work among the farmers and stockmen, I urged both publicly and privately the purchase of Liberty bonds, and then holding on to them. When the drive for the fourth Liber- ty loan was being talked of, T lay awake nights trying to figure out if I could not take four $50 bonds, one for my wife and one for each of my three little children, but figure as- I would I could not see how it could be done. My headquarters as superintendent for the League were at Rapid City, they would accept no subscnphon ex- cept for the full allotment; that I had better see the committee of review. This I did. The chairman of this com- mittee was a retired capitalist, the secretary a lawyer, in partnership with the most corrupt of the old-gang politicians, and the other member was . a farmer, which gave the committee an air of respectability. They sub- jected me to a gruelling inquisition about my family, affairs, and while I mentally catalogued them as unmiti- gated busybodies, unwarrantably nos- ing into other people’s affairs, I nevertheless answered all their ques- tions in a straightforward manner and told them of my inability to pay the installment on my federal farm loan. But they stuck to the allotment of $200. " BANKER PROMISES LOAN ON BONDS 1 then went to the bank where I had been keeping a checking account, the Merchants Loan and Trust com- pany of Rapid City, and asked Julius E. Linde, the president, how it would be if a person were unable to meet payments on Liberty bonds when due, if the bonds themselves would be ac- ceptable to the bank as security, and a loan made thereon to meet the pay- ment? And he said, “Certainly,” and stated that when even only the first payment of 5 per cent had been made on the third issue of Liberty bonds, they had done this. So I thought that since the first in- stallment on bonds of the fourth issue was 10 per cent—the security thus being doubled—the bank would of course do the same thing, and that somehow I might be able to worry through until next harvest by borrow- ing and paying the difference between the 414 per cent interest on the bonds and the 10 per cent the bank would want. That thus, at ‘most, I would only be out of pocket $9.50, as I was able to meet the first payment. So I took the allotment. When, the - second payment became due, however, S. D., and the committee in charge of the loan drive there, with a strong op- ponent of the League—an old-gang politician—as chairman, without any knowledge of my financial circum- " stances, allotted me $200 in bonds. In my home community, Willard, Mont., the committee, knowing my cir- cumstances, had allotted me nothing but war saving stamps. I went to the chairman of the com- mittee in Rapid City, McBennett, and ‘told him that I was sorry that I could not meet the allotment, that $100 was all 1 could possibly: see my way clear &~ | to subscribe. - He informed me that I did not have the money at hand, but about two weeks later I made a de- posit in the bank and Mr. Linde asked me if I wanted to meet the second in- stallment on my Liberty bonds out of the amount: This I very willingly did. So I thus had $60 invested. When the third installment became due, I- again did not have the money, but was daily expecting a check which was dué me, and resting upon Mr. Linde’s state-- ment, and the fact that the bank was the better secured by having the sec- ond installment paid, I delayed writing the bank until January 3. Then my check not having come to hand, I wrote the bank asking what satisfac- tory arrangement might be made, and received the following reply: Rapid City, S. D., January 16, 1919. Mr. W. W. Cadle, Willard, Mont. S Dear Sir: We have your letter of the 3rd inst., and will say that your delinquency in paying your Liberty bond payments has caused you to Iorfelt Payments that you have already made. * If we choose to' make the payments ourselves, we of course get the pay- ments that have been made. * Very truly yours, JULIUS E. LINDE, President. So I had lost the entire $60. Well, in the expectation of a fair crop in 1918, and needing animals, I had bought a team of young work mares from a neighbor, giving him a chattel mortgage on the team and in- crease and two other horses. When the crop failed I was unable to meet thg payment. He insisted on some- thing being done. I offered to let him have the team back with the increase —a fine colt—but this did not suit ] him, and he put the matter in course for legal collection. I had nothing to i ~ @ TR ‘ { { ) offer to stay the execution except my : o, L e b P T & *