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The Woodville Republican
Woodville, Mississippi
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June 30, 1923     The Woodville Republican
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June 30, 1923
 

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Many Marks Spoil the Securities ASttINGTON.  Charging that the German govern- ment by unwarranted and discreditable inflation of currency deliberately llas de- the value of Ameritau invest- Ggrtan property and secur* led'b that cotmtry and her the Association of Ameri- of Foreign Securities has with the mixed claims commls- It plea that the lgbts of the nationals be protected. contention was made that a $1,000,000 already had been by members of the associs- as a result of payment of lnter,. depreciated currency and that loss In respect to property in- was at least $20,000,000. e commission Is asked to demand the "German interests make good losses on the gronnd that the policy in which Germany has has amounted to "an immoral of debts." In alleging titat Germany deliberate- ly Inflated Its currency and destr(royed [values, the association contends t,ut i"the act of sovereignty in nmklng printing presses such a prolific source for the Issuing of currency, without any relation to the gold standard, serves as a repudiation of Its debts, and becomes internationally illegal conduct Insofar as it affects cred- itors in foreign lands." "The German government," the as- soctatlen says, "buys its dollars through the medium of German ex- change bankers. These exchange bankers obtain dollars by various methods, such as selling of German securities through their correspond- ents in the United States. "It is an ec(momic fact, agreed to by all, that Germany is inflating its currency to such an extent that It is only a matter of a very short thne be- fore these securities will become val- ueless. But What Would Become of Lawyers? N EXCELLENT example of the Importance of using pre- cise and illuminating lan- guage to convey an Intended meaning Is furnished in the branch " bank case now pending before the Bupreme court of the United Staten This ease. which is In the form of a lawsuit between the state Of Missouri the Ptrst National bank of St. Louis, is costing thousands of dollars and consuming a vast amount of time of the Supreme court, of lower courts, of bank officials and of lawyers. Selon 5190 of the revised statutes o{' t'he Un]'ted States svs : ' The usual business of each national bank- lag assoclaffo shall be transacted at nil Office or banking house located In the place ,specified in its oganisation certificate. Im the loose, unprectse lan- which has caused all the trou- The question is: When the law says "an office or banking house" does it mean merely one office or banking hotme and when It Bays "in the place" does it mean definitely a ngle lees- lion? The national banks of the country hold that the law means to permit national banks to open as many branches as they desire in as many places and that the use of the words "an office or banking house" is merely typical of the sort of business which may be done. The state governments and state banks and trust compante the competitors of national banks, take the other view and contend that the language means to authorize but a sin. gle banking house at a single place for each natJdnal 'banfL This case started when the First National bank in St. Louis decided that nothing In the law forbade the opening of branches and proceeded to open a branch in St. Louis. At the same time It announced It would open others later. The attorney general of the state of Missouri immediately brought suit to oust the bank from its branch and enjoin it against open lng others. The Missouri courts up- lmld the co:.tenttous of the attorney general of the state and ordered the bank to give up Itms branch and open no others. The bank then appealed to the Supreme court of the United Staten. That Is where the case rests now'. It. CRISSINGER of Marlom O,, has taken office as gov- ernor Of the federal reserve board, the body which stand at the head of the American monetary and lnklng system. Dur- ing his administration of that office le hopes to settle the moat landsmen- question which now confronts the is, whether  the twelve reserve banks actually shall be or active, operating w ' Toe original theory of the federal l, esrve act was that these tweh'e s shouid occupy a posit/on in re- to the credit of the country com- te the position a fire engme to the buildings of a .com- mlty. It was the plan" that the :banks should come to the aid of the financial community In times of Stress, !tad that, In the Intervals, they should aln practhmlly dormant. The history of the federal reserve Iwstem has been an 'exciting one. The opened in the autumn of after the ]European war The opening of the was in the midst of uuparal- excitement In the through the war years and Federal Reserve then In the period of business with subsequent depresafon, these new banks had to operate at top speed. As falcal agents of the government they had to bear the brunt of the Lib, ertYoond dlstHbutlon and perform all manner of services for the banks. The .had qo respite until about a yea  eigte m ol]hs ago when American business fimtlly seted bac to something il llormal condithms Here .' where the rub came. Neces- sarily they built up large sffs. The federa reserve bank of New York alone has 3,()(k) employees, The large volume of emergency business they had been doing during these years brought In big earnings---many mil- lions every year. This combination of eircumstahces led the otcers of tiese banks to expect constant activity and big returns. When the end of the period came, the attitude of mind could not instantly change nor could the big staffs be cut down rapidly. What "Governor Crissinger faces is the difficult task of cutt l down the expenses of these Institutions. so they will be able to mark time. so to speak, between periods of money stress, hold- ing themselves in reserve--acting, in fact, as reserve bmks. New Yorken Get Chance t Seal R7 Lgging Wrk00 ''INthe PU BL d m $ H A consignment of mahogany logs/valued at $400,000 reached New York the other day from Central America, sboar the S. S. Aiatic. The river was turned into a large lumber camp stream as the logs were unloaded, and ex- perienced loggers rode the wood to its destination. Croc:00 its Hunting I ]is Thri00i[ng Sport AFTER DEEP STUFF   lunmo ml, m Labor Union Runs "Open Field Museum Collectors Find Schmldt and Walters also Includes "We ask ttons." Some les get a laugh Anyway, It's speaking and chief of the tire Engineers, strongest labor States. It is his of the board River Colliery mines in West Kentucky to 3looney, ed Mine International a strike at the adoFtlon of icy. "At our we pay the plaitled at hiS "Men may Join In eastern Kentucky the miners are not organized. they want to. We pay the prevail!ng rate of wages, to compel the men either to stay out of the union or go The Coal River Colliery company is largely owned Brotherhood of Locomotive Engineers. A $2,000,000 during the coal strike of 1922, the mines purchased, and t,f policy it was stated that the company, unlike other SOUl." Ample Exdtement in the Swamps of Honduras, CMeag6.T-"Have you ever played hide and seek with a crocodile a night?" asks Karl O. Schmldt, who. with Leon L. Waiters, Just returned to the Field museum after four months In Honduras collecting reptiles. "The game is exciting, especially if played In a swampy forest. nd if the crocodile tags you you'll certainly realize you're lt I But in thin case," and he holds up the skin of a vicious five-footer, "I got him first. lhis specimen I got in British Hon- duras, We had taught several smaller ones but wanted a big fellow. Thcy only grow to about five feet" there-- we later got some eleven-footers in the ublle of Honduras. But on this lht Waiters and I went out with the customary headlights on our forehead, all ready to kill. The headlight daz- zles the eyes of the animal and gives the hunter the advantage. Pretty soon I saw this brawny chap slevverlng aound In a .puddle aleut a foot deep. Blindl Creature Good Wrestler. '*I shot twice for his ear but mled. he aecond bullet scraped his head and about ha4tunned him lm that he be. gan to navigate wildly in drele I thought I'd lose him then. but all at once I found him right near me. I idn't teke.a chance on shooting, but ust b&ed /or ingers Into h eyes and pulled him out like that. The eye sockets are rather deep and. We ;ou a good hold on the chap. Well, then I grabbed his mouth, but he kept squirm- Ing around In my hands so I could harily hold btm. Waiters tame up Jam in time to keep the beast from getting away. "We tied him, but even after that his muscles were b0 strong that he colald roll h|mself around on ths ground like an animated cylinder. He could have got away into the swamp In no time if we hadn't tied hlm to a tree. Well, here he is. poor fellow. And there is the plaster mold Waiters made of him. I have a sort of affection for him now. He gave me a good time of It, all right. But I didn't try to get any bigger ones by hand. No, not after that." The collection brought home by specimens of a tree-climbing salaman-I der, an animal about four Inches long I that lives 4n the tubulaflesves of the. air plant. These leaves always con- tain water In their bottoms. It is here that the salamander exists. HOller En Route With Specimens. John T. Zlmmer has returned from a year of explorations in Peru. He told of meeting Edmund Hailer, another of the Field museum's collectors, in Peru in April, 1922. For more than a year Heller and his wife have been scouring South AmeVlcan hills and forests in search, of specimens of mammal s to stuff and bring back to the Field museum. They are also bringing a few live ra'ittes for the Lincoln park zoo. Amolg the collection to be mounted for the museum are the leaf.nosed bat; the oil bird, or owl that Is not an owl a les of which tht.asands of aped- mens were found In the Lechur.a cave and from whose fat young the natives make a fine salad oll ; a "vamplre  anl- mal like a bear with a tooth like the blade of a knife, and others equall odd. I M188 Hele lis, well-Knowh ttn Francisco newel.per writer, is be 'lleved to be the only woman who has tried out a deep-sea diving outfit. As- sisted by the navy recruiting officer at San Pranclsco, MlsaLols, in order to secure material for some short stories went down into the briny deep in the outfit. MACHINE GUNS GUARD NEW CLEVELAND BANK q A gallery of armor plate surrounds Strength and Safety Keynote of Federal Structure. Cleveland, ().--The new Fourth Fed- eral Reserve Bank bulldlng here has many details of archltectOre and in- genuity that make it one of the most remarkable in the United States. archi- tects and builders say, with strength and safety the keynotes. The main vault is 30 feet below the treet level. Side and rear walls are 6 feet thick. The front wall is 7 feet thick and has the heaviest door In the world. The vault Is designedto hold upward of $2,000,000,000 In gold and securities, according to D. O. Wills, chairman of the heard. The rst floor, for the transaction of public business, Is finished In Italia marble. Customers can lock them- selves behind Iron bat's when transact- Ing business with a teller. th0 first floor, with loopholes from which guards can see everything oc- curring below. Truck driveways lead directly nto the matl room. It cannot be "rushed." The truck first enters a vesbule avd the street door must be closed and locked behind before the second door. opening direct into the mallroom, can be opened. Armed guards can look down upon the mallroom and command tt with rifles, and statues at each of the en- trances to the building will conceal machine guns. Electricity Cost la Lower. Washington.--Electrlclty is the only large item in the daily cost of living which has shown any reduction in the cost to the consumer since 1917, according to the figures of the bureau of labor statistics gathered from 32 selected cities. Mrs. Stillman Shares in Mrs. Anne U. ("Fit")" Stllhuan (portrait herewith) Is back in the pub- llc eye In connection with the famous divorce case. "Flo" Leeds started the present excitement by eming back from a European trip and announcing that Stillman had transferred his af- fections, leaving her broke. She also had an idea that It might be necessary for her to sue Stillman for funds wherewith to support her boy, Jay Leeds. Thereupon Mrs. Stiliman declared her willingness to adopt Jayprovid- ed, of course, his moher made herself scarce. "Nay, nay," said Mrs. Leeds. "my boy needs a mother's love." And that settled that. However, It does look as if the two women may get to- gether on some basis In an effort to make it uncomfortable for the nma In the cat. Reporters found Mrs. Stillman at Grand Anse, P. Q., where she is re- cuperating. **Affinity No.whatever It Is." .she f.r on the same lavish scale as the others. But she the rest." she added with a mirthless laugh. Heads Beth Illinois and Roger trait herewRh) the Illinois State other officers enth annual first vice taln, Kankakee; 3ohn R. vice president. Quincy ; secretarY, Springfield ; Velde, Pekin. Mr. of the Chicago time of his tatning for the tory of the state- of the five Louise DickiVo ther was a chancery in death in born January 4, man homestead in 1859. He got his academic and legal school. University of Michigan (.'94) and ('95). Michigan has him eat'oiled In its football Its quarterbacks. Capital "Social Lobby" Is Shmned ESIDENT HARDING has the Washington "social lobby" a staggering wallop. Re- fusing to sanctim payment of $1.700.Cs from tho federal treasury tO lmburae P. DeRonde of N6)xv Jet- postwar speculator in so by special act of congress. hfis sved notice that as as he occupies the White House measure will have his approval con. which doubtful mthods to ob- Its passage have been used. Back In 192)0 DeRonde had a ship In port. It was loadad at e time, but on request from Wash- cargo was unloaded and. aid in the sugar shortage here. fens of sugar taken aboard. asserts he was Induced to sugar to the United States official of the Department of Wilson adminlstra- paid 19, cents a for to New York the sugar market sud- denly broke and DeRonde was left with the 5.0(X) tons on his hands and a loss of $1.700.000. He came to Washington to prove his claim and collect.it. He set about makDWg friends and nobody ever es- sayed It more cleverly. Establishing himself in one of the corner suites of the Wfllard hotel, he kept "open house" in a manner that won the un- stinted admiration of bellhops. The DeRonde claim passed the sen- ate on" January 6, 1922. by a wte of 81 to 24. There was pending at the same time a similar claim of the American Trading company for $2.. 000. Both claims were havestigated by a special subcommittee of the house agricultural committee. President Harding signed tim reso- lution authorlzln payment of the American Tr(ling company's claim, but declined to sign the DeRonde res. This Is Where America May Soon Get Its Meat Sunolv He had official letters contention. sugar ship was en route olttion and it became law without his (toe of tlie iargesl reindeer IRrnl in the world, awl certainty the ,argus( oi its Kmd o tt:e Vetern Hen|islere, slgnature. However, Mr. Harding re- is the farm oned and operated by the I,omen brothers of Nome. Alaska. lleindeer meat, many think. Is destined to fused to exercise his zuthority under it. become the principle source of meat ml)ply for America in a short span of years, and it will be then that Amerl: cans will look torards Alaska for their supply of meat Battle in Direct Primary Fight ONE SYSTEM TO SUPPLY I,='"'""'------ ......... - I . | and conserva, and there, but nothing important was , Cat Guards Chickens : have fought a draWn direct primary artoua,state legislatures As a result the n the two par- have to be con- , the same basis elected dcl- done in the big states: On the other hand. the similar drive of the reactionary groups to do away with direct primaries and re-establish party eorventions met generally with a like fate. In several legislatures or , en MIls got ott of committee ." were passed'%y one huse, but always ALL U. S. EleCTRICITY Plan Would Require Investment Inghouse company hoard of directors. The plan contemplates carefully dl- of $5,000,000,00, rected extensions, by the efforts of ex- Isting prlvute companies, of present NeW York.Detalis of the plan to central stations and transmission j From Marauding Fox : i Greenwich, Conn.John L..t Mead has on his farm here a pet t [ Maltese tomcat. One morning ! he lOoked out of the window : toward big chicken COOPS and : m there saw the cat Jumping w egates of a ma- Jority. The last few of 4 which met this .veer teir affairs WlthoUt the new law rimary system. big drive of he In conlqss to put over ld- they were blcked before becoming a law. The results generally of he leg- Islatures was a standoff on 'the pfl- mary fight. Taxation was the principal subject wrangled over in practically all the states, although new prohibition legis- up in some twenty-five Starting in March, when res ended "their work, states failed. The campaign clown to Pennsylvania and one or two launched, the bills Introdneed. other states which are erteHr, the publ,eity expended on tast lap of their sessionS, the dotal* the La Fnllette group here, nant note has been Igislatlon killed was as far as they got. ather han what was passed. , a new electoral bl|l paed Everywhere the state lawmakers was vetoed, were t demand that ! quo. Minor local held ia check, develop a huge, unified, privately. owned electrical sStmn, capable of mpplying the power needs of the entire country, are belng worked out with the impport of the Westlngt.ouse Electric and Manufacturing company. Its flfilLment, requirleg years, waid mean an" investment of &5,000,000,0fl0, and an increase of probably $I.000.- 000.000 a year in money spent for electricity. It would bring electric light to millions of farms. It would eer a pra:tlcal method uf electrify- lag almost al; of the steam railroads of. tle country. Tle need for mleh a aymem was ott- wentlon of the/qa- sti0 byOuy lines, Within a few years almost all  through a hole In the wire fene. I t Important generating ststhms awl  Next the cat was seen rsHng I transmlsslon lines would be pooled in [  over a tone wall Into a field he- half a do.en "supersystems." Later t yond end Mr. Mead then spied j the "supersystems" wmdd be linked up i : a fo tn the ieaL The eat Into one unit. The unified system, seilo i chase the fox our of Mght ms | lug In one city powgr It has obtained ' far as Mr. Mead could  I from a station 1,000 miles away, would I I " I 11 m IB w mm  IBt m m m ml m m m IB ii m    be to electricity what tli federal re- serve banks am to finance. Boy's Lost Facultles Return at Same T'm Coldwter, Misa.Phylcisus - here sre baffled over the case of James Holder, t-lP-old son of-Mr, a Mm. Valley Holder Of tht plate, wh r and  r  the same Hme after an lllnea of a yea:. during which time he lost thce faculties. These were all restored o the stroke of midnight. Arph Telegrllm in leHa, P--A stem tel- =emil : aut graPh telegram is be,ag 1i alibi I Preset teegraOh ems, World War Vet Will Colorado and Denver have been much in the limelight of late. For one thing the Centennial State elected a Democratic governor of radical ten- dencies, who appointed a Progressive United States "senator to succeed the late Senator Nlcholson. For another. Denver staged a long and bitterly- fought prosecution of Its notorious "million dollar bunko ring," securing 20 con'lctjons and entences ranging from one to ten years in the peniten- tiary. A third sensation was a red- hot mayoralty election, fought out on a "elean-thcity" Issue, in which n "dark horse" third candidate, unsup- ported by the press, won handl!y. Mayor Stapleton is a good an, how- ever, and he has now appointed Col. Rice W. Means (portrait herewith) ns commissioner of safety and excise. Colonel Means is a lawyer, jurist and soldier. The appointment Is taken t mean that discipline will be eestorl In the police department. Rice Williams Means waS seph, Me., Is a college man and began law practice In No "Pageant of Progress" It be adeiphla, nothing of the intc mourning. that Chicago L* of Progre pal pier this missioner of Sprawls. to use the pose for leases held bY manager of two upper celed for tions endeavor to lines to the of harbor This er of A. who 8a over the Veterans' bureau. He tmlmLtom cmeerue with the