The Oregon daily journal. (Portland, Or.) 1902-1972, September 13, 1908, Image 12

The Oregon daily journal., September 13, 1908, Page 12, Image 12

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Newspaper Page Text12. THE OREGON SUNDAY. JOURNAL. rORTtANDr SUNDAY MORNINQ., SEPTEMBER 13. 1903. One of Problems of Volume of Circulation Solred by the Guaranty System How a Wrecked Bank Is i raid Out and Wreckers Punished. By John E. I-atlirop. ChJcago, Sept. 12 A ca In point .f tha oparatton of th. bank deronllor. guaranty law 1. that of the Intwn- tlonal bank t Coaljata, Okla.. whlh fatlsd Jt sprint. Depositors were . paid In full just quickly as they asked for their money and proved their ol.im. The rntlre process of aceom- pllshlna this unprecedented thing con sumed only a few minutes literally. a ' few minute.; for ;urely, 0 minute. U not lon for an official In charge orm i wrack hank to open Us doora and pro SatnTth.t aft depositor, may have their money at their option. . The Democrats position W thli ' cam- Kla-n la that a bank passbook hua Torth It. face at any time. 1 1 .hou d be virtually the aame a. a bank note in It. negotiability. t repreaent. actual nionev Daid over, to the bank, not in- an ordinary string. Thl. money bore all the evidence of having been burled. I'pon another ooraalon a farmer Bold hi. farm for $4,800 cash', tend at the time of sale he came Into our bank and was Intending to take the proceed, of the aale all In cash. After I ex plained to htm the new hanking law of Oklahoma, which gave to depositor, a protection not afforded by any other mate, of which he had never heard, he immediately concluded to leave in. money on deno.lt with ua. The amoun la still on deposit in our hank at thl. time. On another occasion a widow sold her farm In our county and removed to Colorado, She said she desired to have her money left with us, as she knew the banks of Oklahoma were unrter the guarantee deposit law of the state. She felt perfectly satisfied with thut pro tectlon afforded by the new banking law ana would only draw upon ner ac count when actually needed. "We could multiply Instances of the same cnaracter almost wmiout num TOO hi mi FOR EflGlJlllfl Frotest Against Antiquated, Oppressive and IZidicu Ions Statutes. ner fori Injury to tha employer he may dfacharg them summarily, but only on Daymen I of their salaries for t lie full terra to wnicn tney art eotitiea, ..., e e Th. Ineome ta la another aora' sub ject. Bu.me. men ana lumity or man. priced was earner, aar It la exoeaaiva. It varle. from nothing, for thoae re- selvlna- less than 180 atinually. to ner cent for the man who earn, mora than. I MOO., or- I per cent Tor. tha on.I ho draws an eaual amount rrora in-j vewioa caimai. ' Theoretically, tha maieontent. azpiain. I per cent may seem low, but to tha in who a-eta 170 eaturoay nigni, ilts" 110. hands, out ti tor rent and household expenses, alves his wlfa 110 "pin money," and keepa Iio for nimseir. It oomes hard to ba oalled on for half hla own little allowance to run tha business British government 4 y..tel V enterprise, but from the .tandpoini ox w ""-V ".v bi i ber. but hardly think It necessary, to ": .Ior. r.k. wnr. K'v? aaamonal avanaoie ai me "v1""'," r Tha atort of the Coalgate bank reads trana. aSough. when, placed, alongajde the oratory of aome other .V.ral a a.na ta araue for tha general ap plication of tha uainwa ,m a Clonal banks, aa In Oklahoma there la a guarantee of deposit. In state bank.. How taw Actually Works. Tha bank commissioner discovered these borrowed funds. Return wu not . wade. He closed tha bank at J.15 o'clock P. m. Thursday evening. He tel ephoned the state board of the facta. lie waa Inatructed to proceed at once 10 . pay aw approved deposits. I T. ba exact, It was precisely 4J mln , tatea from the moment of the closing or the bank to the moment when the com- mission began., paying the depositor.. And on Friday evening 60, cent or tha depoBita had been paid In full. When another day had passed 90 per cent of the deposits had been paid. The balance, 10 per cent, waa ready .for, payment to depositors, ' but they - seemed not to be In a hurry to get their money. So secure were these depositors In the knowledge tha$ they could have their money at will that some farmera, ' "busy in the country telephoned that thev oi3lff not roinvaniantlv come to . town to draw their money and would , coma in in week or two to get " Bank Wreckers Punished. But that is not the whole story. Not nly did that bank commissioner wind , tip tne axraira or tne wrecked nana ; promptly and with absolutely no lncon- . venience to me aeposiiors, Dut me oin r features of Oklahoma's banking laws ., were enrorcea. Tne orncera who uie ' rally had loaned the bank's funds to ' themselves were indicted and punished, but the adjustment waa accomplished wunoui loss to tne state guarantee fund, for the capital stock was suffi cient to cover tn aenciency, ana tne state fund merely was used promptly to pay tne depositors, later Demg reira cursed bv the cacltal stock. Instead of waiting for daya for the receiver's report, having- the receiver negotiate to real lie on the bank a assets, r and then; after months of delay, pay depositors their funds, or aa so often happens, only a part of their funds, there was no delay, no loss to a depos itor. ": KagwrdliMr "Baeklen" Baaklnr. . ' Who would decry the latter 4ay re oulrement of aecurity for funds depos- . ltea in oanas y nation, state, county or municipality? One of the reform, wrought out. after fenerations of serl- . bus losses of public funds in wrecked tMtnks. is that of requiring the bank re ceiving suca aeposita to give security therefor. , Is it not fair that the "individual should have the same security, given Would not it be well to devise a sv. tem under which Individual depositors could be as sure of receiving their de posits as tfee government the aggre- fata of Individuals is of receiving It. eposits? Hoarded circulating Madlum. One of the facts brought out by the ui,uniuu ui ute currency Din last win ter was that millions of dollars con slant y remain hidden, hoarded In old stockings, boxes and all sorts of recep- icieB. ii was estimated that were these hoarded dollara brought forth and deposited'-in tha banks the increase of - cireuwuni meaium tnus accom p ished would Te sufficient to provide all tha needs of business, for which so many plans have been formulated in tw yH.rs. . . wou'd no njr plan which would In sure the bringing forth of these hoards recommend Itself to you? Would not you indorse It, so long as otherwise it proved to be sound an?. healthful? . ;I am sura that examination of the zrZ lB r'l? on Oklahoma situa tion i will Indicate that guarantee of de- oklng'for Plan th oountry hfts been A. HatloasJ Banker Testimony. r Arter the marnnt m r.Un V V. j force in Oklahoma for a time, 8. H. ouiuiiara, president or tne Lincoln. T.' . J . . . ' ones. 1 am one of the national bankers who have availed my self of the benefit of the depositors guarantee law or our state and reel that It la the beat move that we have ever made since wo have been In the banxlng business. "There waa no particular reason why our deposit, should Increase so rap Idly, as our city has only had steady growth, no boom of anv kind and no unusual deposit, of any size. Bank rallore. Unnecessary '1 believe the banking business to be an nonoraoie business and lr conducted according to law there will never be a failure of either a national or ar state bank, anda. long as banks are con ducted along these lines the bankers should be willing to , stand for each other and there would be no liability In doing so if the business Is conducted as it should be. If the bankers of our state are not willing to stand for mu tual protection of each other. I cannot for the, life 6f me see how they could expect the deposits of the publlo to be left with them without any guarantee whatever, If the bankers themselves cannot trust each other. I feel certain that no banker will ever be called upon to pay any guarantee for our business, and I have faith in the banks of our state being conducted alonar similar lines that I will not be called upon to pay for any of their shortcomings, with the supervision that the state banking board is giving the secured banks, together with the class of bank ers that we have In the business, I feel quite sure there will be no loss to the banks on account of the depositors guarantee law. "There is a aense of security In run ning a bank under the depositors guar antee law that there never was before, in this, that we know that no false ru mors can be atarted affecting the banks that are under this new law. The miblic knows full well that the failure of any bank would not affect their deDOslts. hence, for that reason, along with manv others, I think that the law is having a trood affect unon the banks and the neonle that do business with them. W can loan a larger per cent of the bank's funds and feel perfectly safe In so doing, knowing- full well that the tongue or tne sianaerer is nusnea ana a raise report of tha envious is stopped before it even gets a start" (United Pre. Leased Wire.) London, Sept 11 British . - 1 I A tk.11. laa men are omniiis m I .v. -i... . ....t. .kn suffering from too many laws. In com-lmo noonsolably over tha hardships of merclal circles an ever-treng thenlng I ths Income tax are tha ones who score . . m m "iiaaih inf laa"' in Tnak ii f t a. falsi w t arma movement ha. been ' Th. nWdui; of Won.hlr. hid rtl thorough houaecleanina; and the relegaU a nU tMcy cattle a fortnight ago ba ng of numerous worn-out statutes to cause hla country claimed ao large a. the rubbish heao. Tha lawyers navel r""'" IV '"l""7 '''".T7"'" JKL" " . . ,. -,m K.,nim. rie isn l tna oniy one, eunerj in managed to tae It off thua far, but .rltocP.t. - rich ma never dies the business Iconoclasts are Interesting Mn England that hla heirs aren't oom- i.,,iin members of narllamant and say pelled to. curtail .expansea to mat up they wiU be waging an anergatlo cao- Kthiii?itl palgn In the national legislature shortly. it isn't a tax on tha net, but on the Thia doesn't necessaruy mean tni p":V" " HUBBIES GAZE; AT DIRECTOIRE; ; MEALS COOL, WIVES GROW WARM That saucy, naughty, ripping, tearing, stunning, cunning dlfectolre gown will hot sUy out Of tha llmellaht a alnarla minute. It must continually folat Itself wnn uiairaowng frequency on said Ota Iortland. ... j Ioan't It seem anousrh to aa It aver renins , nnir aosen or- mora tna atres and near-theatrea without having io nn your car at lunoneon and am. ner lime to get another glimpse of an entrancing some ana a inrmy sugges tion of dimly hidden laeea anil Mrnmiut llngerlet, . ' That's what more ' than nna vnnna nvuivwuv waa varinar tnia anirannn a m aha anxloualy waited at tha window for a signt or recreant hubby while tha miaaay conation was cooling;, cooling. aa tha aforementioned, recreant showaii no sign of oomlng. , . . r And tha tardy . axnlanatron by" tela pnone was not aatiarying, either,, so the lira. Newly Weda ai r.ri e,;m. and fretted and wondered If lova had rown Mid tha lunohaons until soma Ind friend ."happened" td taaa and tODDSd to av caauallv that h h. aen hubbr admlrlna Oh. aiirh they wlU win. me country is ' l';" . t li ii im i tt 5 i'i? u.J' - i nata tne aame Kind friend tojradltlon and wrr-ch? !A&JW& .hA !?.?? Jt .what win ba bittenv ODooaea uy conrviiiiyi - - . . . -' "" im-bmmoui la added. From o o. 000, 000 or over there U peel; up-to-date an opponent States. First Annual Pacifio National Live stock Show and races, Sept. 21, 22, 23, 24. 25. 26. at the Portland Country Club grounds. Satin skin nowder belna- best made It's best far you. Flesh, white, plhk. bronet. ,11 kll,..u Ar.uA l.V AfinUPVIltlVM I ZenWaVy" ana' lYT'iil 7ra.7e.ts ' to to 15.000 I per cent . . i I ID.IIUU UII LU IO.UUU.UV '"A,'L,V:ui,J.J n- .. la rradual increase ud to I Mr cent rfZaiiUnttffl But that isn't all. After tha aeceassd S$tttok,a l&l Urnvlnlr1": h.l.".r.,t0arxJdh na'd orecdente, that they dat ao far back of dylng Jbls hairs 'taxed. Bona and ia ta ba lnannllcable to Dresent day con- uauaniera aun i vw ig wuo ma but- dmons"and"PtKat thTli ?oTmou. nSmbSr R'f?'lt&: makes it Imposslbla for anyone to know l, wfnt. r hv a p are nta to when ha may run counter to soma an- Py '.taJi. m?t ..hi ?S?K,!lJ'-,Orif0tten U" Md Ket aslssed' ffiJhem ""y!" Iccordln" m . " . ...- to the amount v of tha leaaoy and the date" V'thaT th.'c nearness of .tlon.hp 8 to 10 doesn't lfke Its ispokesmen say tarlla- P.f'"- P""n', rVn i ? ment adopted fhem in too big a hurry nnultles Tr,'.!! A. .niiS th.t thv ml .tradai difficult and cent. In their case tha government handican Enarland In tha race for nrosr- counts on getting Its shara later, r mnnnntiLllv aaratnat ao lively and I tne unuea I if tno man in .tne riat next to you doesn't like your piano playing na can make vou move the Instrument to tha One thing with which a great deal of wall farthest from hla house. Parlkf fault la found ia the "emDlovers' 11a-1 ment has never decided what tha mil blllty act." It goes much too far, lta I alclan must do if the man on the other enemies kav Thev declare thev wouJdn 1 1 side also complains. Tou can force mind paying damages for their own! barrel organ man to "move on" from norlAct or evert for carelessness bv em- I In front of vour house by Simply waV' uoyes resulting in injury to tneir iei- mg your linger at mm. out it me ow workmen; But they do think It householder next door likes the music unreasonable to ' hold them responsible he can" keep the barrel organ man play for misfortunes thej victims bring on lng In front of his domicile all day and themselvea. you have no remedy. For instance: . If your do oarKs or your rooster If the hired girl gets drunk, fallal crows too early in the morning your down stairs with a trayrul of dishes neighbors can get a court order ror tne and hurts herself, the employer must offender's execution. Newsboys can't pay damages. "holler" In the street. Neither can push If the office boy, sent across tne way cart men or fakers or peaaiers on an errand, is nit oy an automooue. his employer must settle with film 1 Clergymen of the established church If a workman suffers shock at the can be farmers "on the side." but they sight or an injury to a co-empioye. ne can'tfarm more than 80 acres. They iB ennueu w cuu.u";. mav engage in no business or trade un- If a collector Is sunstruck on his 1 1. lh- h.Htrt it I Thm hv mav rounds his employer, must pay him for But hev can be managing directors. It. . i " . . . . 1 nartners or shareholders , In Insurance Tne employer nas lew loopnoies oi es- i nmnanlra 1 ?p, N emP,ov wnoee pay exceeds Iri temperance legislation, for all that M;' iuhiuojij J..; ira.u. uin.6:. ' England isn't roucn or a temperance Inlurles for which the employer was not !,..,,. v,. i.. . .tn f.ri,.. airecuy reeponaioie. n injuries must i thftn ln anv gtste in America, keep mm from wotk at least a rortnignt America mmlsheg. illegal Houor sell- rie rcucivcB ui.iy j Mng but no Illegal Duyinar. Engiana does, duty, but if the injury is permanent TfBa roan hM "btlfn declared an habitual the emDlover must continue to Pay It I v. n n.nnK as Jong as he lives. If he is killed the hls thir(,t. under penalty of 15 fine for iiiniL vi u.uinsc. i. n iJ7i. his first and no lor nis secona orrense. Xliuav 1IB auaiHiucu ill tjiio ui ilia knA m tv nn "na" f rMrm with. mpioyeB any noi uui.a wonting OTlt - licftns except "Inside a house." hours. ... 1 .Th fly now thm TnrorTorat1 flrc!tv for k T7a.vi Inntlnn a-w Vafrnln 1 a akn I a a ir. ImDloyarB IIIUHI. HIBU It ay w imi a, lut I -,-i-JL a Af m law nnmmmA molrlnv it si oi inem can & omu jqr xiicompeiency. nnlhhl nffftn to have rata in vouf DeanaHant arplfirlir nrfivMAai tha Ian art H I t - UI II WLlt;C7 IU TV II tt. II 111C1X CIII'lUJf CO (aI u dress was on dls- partlourar hat "she 2 i tl" ,", was surely go- Inar to aurtvrlaa vlru k . . .Ih" -- - ' r r vuius. it. PJ? ?Bd.ttiv',-t kw from his iwm iun nuuvi. aeai Did Mrs. Newwlfs lose any time In dreamlnjr of th draas, or did aha stop ' yi ooia luncneonr waiL you wouldn't think ao If you bad happened by this particular corner shortly after t o'clock and swui tha band of ruffled and outraged young matrons and lis- iena io iw converaaiiona. And maybe r giau you naon maua any explaoatlone via tha talking wires Ana it lsn t only tha nawlv-wwia. 'thr, who are -passing said repassing vunirr. uuuering granaratnera that nd glgglln schoolgirls, kprlm- old OTaJa "r - moaeet scnooiteachen and bold, bad buslnea. man all fin- tirav to - ua maaiea nerara th.t .in,. winaow oy tna pa.nna; swirl. Btrange, but you never see anybody swirled out ward toward tha curb. That dlreo- toira must nave a mitnit mnnu m hi uie sneatn. xiowever, mat may be. tna ract remaina that, tha bivaaat nmrt oi i-oriiana paa.ea wnera .ometime dur ing -the day arnd didn't hum In th oaaaing, ai tnat, - . . - The lien the Habit. By Winifred Black. v lttabura alrl f nrnlihml sl tinua bought a wedding drasa, purchased her sweeetheart a new suit of clothes and rot ready to ba married.! And after all- this trnnhla h heart changed his mind at tha last mln. ute, and the girl la left with a brand- new, weeding- dreia, a perfectly good suit of mens cloth, and a nlca, new, hamfa 1X ,UroU''4 . OB her .HLVfnnount' throu herf friends mat alie la now prepared to marrv a,,v good-looking, amiable young man who I 1 .,...al.,. . I ..... would anhraciat a mnn 1, 1 - -7 ' devoted wlfe , ""t"" " Now', your, chance, gentlemen; you'd b,i"r.9 er.'. na aVol1 ". ' There a nothlrw ataniin. v.. J.n with thl. ,i,i -.7,. 1. 'r.V,T-",".""r when yea coma to ullnk of it, T . w She a a slave tit ft i.,.. .v.... all. 8h. s Ilk." h.T,eT thar .u;" to ST?Sn- 1 &tor ths Voto! milhl Isk sa 1 I thaH . at mr man cnanga her mind, aha runs across m.L and gets killed.- 1'eor slave of habit: boot hem k Whenever I aaa a. man a.k. to work ana worry- that h." dV.n' wan to taae day in tha country for stupid handa, I expect ta U hi.- cackle ha makes ma think to much of the han and her fixed m. , T ot It's more imuoriant ITS V". V"ln! Juat ao aplck apd span than It is to be good-humored and f reah and llsht hearted. I look arnnn u.."fu glimpse of tha automobile of . or other that la aura to crush her soon- Whenever I ' hear of a llveaabove fts Income. tnat nobody wanu, glvea dinnara tha t iiuuuuy ur iu il una uvea a fool ish, unhappy, worried existence, just be cause aomebody else happena to liva that way, I can't help glancing ner vaualy at tha road and wlahtn th.t thia particular hen waa aafelv crnm it Lai's ba men and women, with minds of our own. It's a whole lot mora fun than-being hens. - famltv a,tilh Income, buy. clothe. II PARLORS 303V2 WASHINGTON STREET, CORNER FIFTH entitled as a preliminary to dismissal. Even the off lee boy Is allowed a fort-: night. Domestic servants and skilled workmen get a month. Clerks and their kind must have a quarter. The depart ment managerial class receives six months and full-fledged managers year. If their servtcea are so poorly I so' slty of, Moscow does not admit women students It is to have the first woman Sroressor ever appomtea in Kussia. ur. lontchakova Is the woman. She Is a graduate of Zurich and la lookfed upon m an authority ln pathology. Vs?,- !rst National bank, wrote to O, J. rleminir. nreslriont of tha i-il-i- National bank Mr. Burnham opposed fuarantee of deposits. He toldf Mr Ieming that he desired the facts. Mr. Fleming gave them. He told about the Increase in the deposits of the guaran teed banka of about 12,000,000 since the jw iiaa gone into errect and the de crease of between 1500,000 and $1,000, COO In the deposits of national banka, . which were not permitted by the comp troller of tha currency to participate in . th; guarantee offered by the atate law. " .In..o5e-w0d there waa an Increase Of $2,000,000 In deposits of one class Snd a decrease of less than $1,000,000 ln another class, or a net gain of at least $1,000,000 in the total bank deposits of the state. Opponents of the guarantee have rep reaented that thia increase came from . deposits sent in ftom neighboring ; States. In amall part ihat wa true. i But read Mr. Flemings written tes timony aa to whence ca,me most' of the Increase. He thus wrote the Lincoln. Neb., banker: Srongkt Old Shoe Boxes. - "One man came into our bank with an ordinary shoe box. He broucht it into tha private orflee of our bank and akel ua to open It and count the con sents. We found the sum of $1,450 done up In little rolls of $100 each, tied with c-; g Trunk and Suitcase Sale AN OPPORTUNITY TO BUY GOOD BAGGAGE FOR LESS THE TRUNKS ARE MADE BY "LIKLY" AND WE GUARANTEE THEM $9.65 Trunk, 36 inches long, strong, riveted frame, good lock, bolts and straps;' sale price $7.25 $10.25 Trunk, 36 inches long, with tray, compartments, durable, locks and bolts and brass corners; sale price $6.45 $12.00 Trunk, with seasoned ash slats, leather-bound, hand-riveted; well strapped, brass corners; sale price, only $5.75 Trunks From $4 to $50 Included in This Sale $4.25 Waterproof, pegmoid, 26-inch Suitcase, sole-leathercorners, riveted frame, good locks and bolts; sale price, only .. . .3.25 $8.00 Cowhide 24-inch Suitcase, riv eted frame and reliable locks and bolts; sale price .$6.00 $9.75 Sole-Leather Suitcase, extra hand-riveted frame, very strong locks and bolts; sale price ...$7.85 We Carry "Cross" London Gloves NO PAIN No More fear of the Dental Chair NO PAIN "NOR A HIGH DENTAL BILL" Special Rates All This ionth OPEN SUNDAY FROM 10 A. M. TO 2 P. M. ONLY RENT PIANOS Why not rent's piano for a few months and then buy a Stelnwav. the treateat anions; planoa? The i fading musicians In everv commontty unite in rraisina; the Steiaway. The leading ar- tlata of International reputation endorse Jt aa tha paer anions pianos. Investigate oar "Money Sarins" pUa Ftnctly one prlca. The worklrgman rra no mora than tha capitalist, ah receir the same low price, beaad oa factory coat, plus freight and handling; expenses. This Is last and riant. 'The Home of Dependable Planoa." Sherman, Clay & Co. rtAWOt tom axjrr. ' lrt M Konfaoa, OV9 Postefioe. DAHPnyTT AM Z1! A CC CATC Hundreds oi Other Pieces $3.00 Vase, now $1.50 $3.75 5-inch Dish, now $1.88 $3.50 Handled Nappies $1.75 $5.50 Fancy Dish, now $2.25 $11.50 Cordial Set and Trav, now $5.75 $24 Ice Cream Tray.. $12.00 Included in This Sale $34.00 Wine Set, now.$17.00 $3.30 Basket Dish, now $1.65 $3.50 Comport, now... $1.75 $4.50 Comport, now... $2.25 $5.10 Comport, now... $2.55 $6.00 Comport, now. . . $3.00 $7.65 Comport,, now... $3.83 $9.00 Comport, now... $4.55 COLUMBIA TRUST COMPANT, ALCOHOL COOKERS Single or Double Burners Non Explosive ASsolutely Safe and Easy to Operate Full Set, that fit . . Gold Crowns, 22-k . v . Bridge Teeth; 22-k . . . Gold Fillings . . . . . Silver Fillings . . . . . WHY PAY MORE? $5.00 $3,50 $3.50 $1.00 . 50c EYES TESTED GLASSES FITTED m.OVBMODEEN OPTICAL SECTION ; All Our Work Done Under Positive Guarantee If you are nervous or have heart trouble, the Electro Painless System will do the work when others fail. All work . warranted ten years. caxajdujt - xostxt At AM i 1 lA'A'J 111" r a w a sk wSSSBBBMsWi Wl 99 iintm nenrma Bank Reference Open Evenings and Sundays I - ... Lady Attendant ELECTRO DENTAL PARLOUS Corner fifth and Washington Streets, Across From Perkins Hotel