V timed y o i tti'o S)
RESERVE BANK POWERS.
f-iM.rpal Functiont of the New Re
gional Irstitutions.
IS Any tcdorttl n.orvo bank
i . ! o fnmi any of lt im-inln'r
I v . ml from tho fnltod tnto do
p, . k r . ui rent fcntls in lawful won
cv n tt -ti.i kink nolo. fodernl ro-orvo
i, tin or oliovks itiul ilralt tiHn mora
Iht Uinks. payable upon preont:itlou
or m'IoIj for oxrlmnistf purposos may
r cl u fwm othor fedoral rworvo
l'-Vs deposits of curront funds In
L n money, national Imuk notos or
c , , t. .111,1 ilmft nHn NOlvcnt mom
be: or othor fodornl roorve banks
p v.itilo tiii prvt-ontation.
. :i tho Indor-ouiont of any of Its
r.., iuV- Kinks, with a wnlvor of do
n. ,i ti. tl, o nnd protest by such bank.
.1, i federal r?orvo Kink may
ov "t uoto, drnfN ami bills of oi
' :irl-tnc out of actual eo tumor
oi ' tnmnetlon that R note, draft
;ii.l Im. v ( ovohatice iiiod or drawn
for icr'riiltnral. industrial or commor
o"'1 i'iirpitw or tho ptvoeod of which
h.i o boon '"caI or are to lie used for
su V p'lrpoio. the foVml roerve
to. n1 to hnre the rlsht to determine
or define the character of the iwpor
th ctlcihle for discount witnitt tbe
tr.o-tdtc ,r thi act. Nothins in tui
a t Ttilneii shall be cunstmwl to
pr,'t it suoh note, draft.- ami WIN of
ox "-so secured by -t.iplo itsrieul-tu-
. iniluct- or other cond. wan?
or trorohamlNo from lielne olislble for
su !i df-.-onnt. but such iletinltlon shall
n -t i- '-ide note-:, draft or bills cov
er!' i'.ienjly Investment or Nsued or
drr.nti for the purpose of oiirrylnc or
tr ,Vrc in stock. kinds or other In
vert' t securities except bonds and
v f s of the soverntnent of the United
P to Notes, drafts and bills admit
ted d'-count under the term of thl
p:r .-mnh must have a maturity at
the l ne of discount of not more than
n't of v days, provided that note
d'-'', .nd bills drawn or kt:rl for
uirlfaitnm! puriioves or based on live
stoolc id having a maturity not o
eeodirc six months may he discounted
In "i" amount to be limited to u per
cei"'i.e of the capital of the federal
reserve bank, to be ascertained and
fixed by tV fcloral n-erve board. l
Disiounting Acceptances.
Any federal reserve Kink may d!- !
count ii-eetitances whicU are biied on
tiic liii nation or ex(ortatioii or do
uiestif sb'ptnent of sood-. and which
have u tn.iturltj" at time of discount of (
u : more tliun three months nnd In- :
d -rse i by at least oue member bank, j
Te auirunt of acceptances so di-
count i-d fiiall at no time exceed one-
li ,f ;' , p'id up capital -tock nnd -ur-pi
s of the bank for which the re-
diMoisnb are made. '
Tat' .'reOTte of such note and
Wis the slpmiture or iudorse-
inc. t of any one person, company or
firiu curpomtlon redieounted for
nnj on.- b.uik sliall ut no time exceHl -lo
per -ontuui of the nuiiUi.airtHi cupi
Uil tad surplus of said U ink. but th.-t
re.st.ii tjiu U;ill not upply to the dis
co. -i i of Mil of exchange drawn In ,
po id fulth nz.i ast actually existluit
v .
Aiij uieinber Kink may accept drafts
or . (r ti.nw drawn uiwu it j
n d . o ma t of tnuo-aetiot: in
vo)vi. tlio ii. : rtatiou or exportation
oi hai.i.-.' not more tuau ix .
i: j'j'Jis s i -lit t' run. but no batik shall :
:u t sn. Ii ' .'is to an amount equal
at en- tli.: - ia the UKKreKiite to more (
th. n one h -If of Its paid up capital.
btock and M:rplus.
Open Market Operations.
iM- M Any federal reserve bank
uiu. ui:'.er rule and resulations pro
s, .i d by the federal reervu Kiard.
P'U .,' and ell in the open marliet
at Home or abroad, either from or to
dot. ' -rii' or foreign ImuLs. tirius. cor
pu. .(ti if or Individ mi cable iran.- ,
fi r.nd bankers' acceptn rices and J
bi' s of exdui'icc of the kinds and tun- ;
tnr!t -. by t ds act made eligible for
rt U mint v Mi or without the indorse
raw t of n m 'ilu-r twuk.
I i fcdi 'nl reserve Imuk shall
h.ivi power: J
In T deal In gold com and bullion j
al Iwtiie or abroRd. Hi make loan.4
thi-renn. exchnnge federal reserve
note f .r gold, gold coin or gold cer
ti'i Mrs arid to contract for loans of !
go ,1 i-oln or bullion, giving therefor, j
wlioii 'ii'. esiiary. u'ceptable security.
Inoji din-' the hypothecation of United '
Stotis b'-nds or other secutlties which
fed - il reierve bankii re authorized
to bold.
lit To buy nnd hell at home or abroad
bonds and notes of tbc United State
and bills, notes, revenue bonds and
warrants with a maturity from date
of purchaBlng of not exceeding nix
months. Issued In anticipation of tbe
collection of taxcH or in anticipation of
the receipt of assured revenued by any
Btate. county, district, political subdi
vision or municipality In the conti
nental I'nlted State, including Irriga
tion, drainage and reclamation dis
tricts, such purchases to be made In J
accordance wiiu ruies aim reguiauou. i
prescribed by the federal reserve
board: !
(ci To purchase from member banks
and to sell, with or without Its In-,
dorsement. bills of exchange arising
out of commercial transactions as
hereinbefore defined:
(tl) To establish from time to time,
nubject to review and determination
of the federal reserve board. rnte of
discount to be charged by the federal
leservo bank for each class of putier.
which shall bo fixed with u view of tie- j
commodating commerce and business:
(el To establish accounts with other
federal reserve banks for exchang"
purposes and. with the consent of ti e
federal reserve board, to open nnd
maintain banking accounts In foreign
countries, appoint correspondents ind
establish ucenclea In tucb countries
Tfheivsoover It my doom best Mr th
purHii of purchasing, soiling and col
lecting bills of exchange, and to buj
and sell with or without It Indorse
ment through uch correspondent or
agendo, bills of ovchauge arising out
of actual oommorvitil ttniisactiolut
uhuh h.io not uioif tlitui ninety dn.ui
to run and which tvar the slgnatuiv
of two or mole resKlislble vtrtle.
Section 1." provides that nioiieys held
In the general fund of the I'nlted
States tre-.iury. ouopt the ' per ion
turn fund for tho redotnptlon of out
standing national Kink notes and the
funds provided In the act for the re
demption of federal reserve notes,
may be deposited In federal reserve
Imuk which shall act as lN,-al agent
and that t'.ie funds of tho Philippine
Islands, the postal s.ilug and any
other government funds must be do
wltod in federal tvorvo Kink.
Section lt provides for the Issuance
of federal reserve note to federnl re
serve banks, redeemable In gold on de
mand at the treasury department oi
in odd or lawful money at any fed
oral reserve batik. The collateral e
ccrlty shall N note and bill accept .
el fiv roi'tsis-m-t under section 'X ,
led 'Ml .- oro !anks shall have a
god reserve of 40 per cent of thelt
dem! iverve note and shall main
bln In the fttirid States treasury lu
fo!d a reserve of not less than S el
cent of the fislenil nserve notes fori
their ndemp:in
Section IT te."i!s laws reijulrlng na
tional Imnk to deposit covernment 1
bond with the t'nlted State treasurer.
Section IS provides a plan for retlr-'
lng tbe Kr cent Kinds on which the,
present currency is based. Under the,
plau S'Jo.HiO.tXt) worth of these Kinds '
will be purchased curb year, beginning !
two years after tho system Is placed in '
oieration. by the new reglonnl banks;
from member Kinks On one half '
It holdings each regional bunk may N
sue currency. The remainder will ie
refunded In 3 per cent thirty year j
bonds or : per cent one year treasury !
notes, which the Kuiks must agree to j
renew each year for thlrtj years. ;
S.-'tlou IP describes boiv ineuibet ,
liauks shall establish and malntalu re- I
serves l
Section 21 provides for the examln.i- 1
tion of each memlor bank by the '
comtroller of the ciirreucy at least
twice a year, for a special examination
of member banks when desired by
federal reserve banks and for a spe- i
clal examination of any federal re-
serve bank upon the application ol
ten member banks. '
PENALTY FOR DISHONESTY.
Tampering Witn Bank Examiners Mad
Criminal Offense.
See. '."J. No uietubor hunt; or an
otllcor. dlriK-tor or employee ilion-or
shall hereafter make any man o
grant any gratuity to any bank e
amlner. Any bunk 'ollber. dlrei tor
or employee violating this pruvislei,
shall be dvtiusl guilty of a nnxde
mennor and shall be Imprisoned not
exceeding one jear or tilted tut more
than ?r.iiU or Kith, may be lined a fur
ther mi tii eiuui to tbe money so loan
ed or gratuity given. Any examiner
accepting a lonn or gratuity from any
ba.ik examiiu-d by him or from an
offlcer, duortor or employee tUer-of
shall be deemed guilty of a iilN ie
meuuor and shall be imprisoned not
exceeding one year or lined not more
than So.liiKi. or both.
Section 'Si provides that national
bank stockholders shall be responsible
for :tl contract, debts and engage
ment of their bunks to th. amount of
their stiH-k at par Milne lu addition to
the n mount ItiM'sti'ii in inch "toek
If they transfer their stock within
sixty dn iiefore the failure of their
banks they -hall be liable to the same
extent In i-iise the transferee falls to
meet Mich liability.
Loans on Farm Lands.
Sec. !. Any national banking
lex-iatfnn not situated In a central
reserve city uniy make loans secur
ed iiy improved nnd unencumbered
fiirm land situated within Its fed
eral reserve district, but no Mich lonn
shall be made for a longer time th.-m
five year nor for an amount exeeedp.g
."0 per centum of the actual value yf
the property offered as ecurity. Any
siidi bank may make such loans In an
aggregate sum equal to '."! per centum
of Its capital and surplus or to one
third of its time deposits, and such
banks may continue heieafter. as here
tofore, to receive time deposits, and
lay Interest on the same.
The federal reserve board shall have
power from time to time to ndd to tho
list of cities In which national hunks
shall not be permitted to make loans
secured upon real estate In the man
ner described In this section. ,
Section 'J.'i iiiithorl7.es national bank
ing associations possessing a capital
and surplus of Sl.OOO.IKX) or more, ttt t
tablish foreign branches under the di
rection of the federal reserve Isjard.
Section '-'ii aiithorKes the secretary
of the treasury to strengthen the gold
reserve by borrowing gold on United
States bonds or by selling them.
Section 117 extends from Juno 30,
1014, until June 30, 191.';, the life of an
act authorizing national currency as
hocln lions, the Issuance of additional
national bank circulation and U'e ere
utlon of a national monetary coi.oils
slon. It re-enacts certain Ui.i:ed
Htfltes banking statutes amended
mi act of May .'10. 1!US. subject to such
amendments or modifications ns ure
contained In the new currency law. Ii
amends the May 80. 1008, act In to.
gard to the taxation of circulating
notes held by national banking asso
ciations and secured otherwise than
by United States bonds.
Section gO provides that If any part
of the act Is declared luvulld by a
court the Judgment ub ill not uffect the
retnaluder uf the act.
The Bst
In
The Wcit
TALK NUMBER TWO
SELECTIONS NOW FOR HOME
BUILDING
The Beit
In
The East
ARE YOU A HOME OWNER OR ARE YOU A HOME RENTER?
WHICH CLASS DO YOU BELONG TO?
Why Not Own Your Home in Tillamook and Help Build the town?
Look at the following lines, What line do you represent?
(From the Twelfth l?nital States Census, Vol 11, P. XCVll, 1000)
There was under the above report: t(,()0(,437 of homes in the
United States. The general standing of these homes as to owner
ship was as follows:
2,180,229 of Homes Mortgaged
4,739,914 of Homes Owned Free
8,246,747 of Homes Rented
WHY KEEP PAYING TRIBUTE TO THE LANDLORD?
WHY NOT MAKE A START TODAY TO OWN YOUR OWN HOME?
Let us close you today on a Contract to a CllOK II 1IOMK I. HT in either KING or dOOMSI'lili!) Ad
dition. Make a start and jjet awav troin the fyht nullum ol renters in the Tinted States.
Terms are Easy Prices are Reasonable The Values There
2dl' ADDITION
Is very choice Westnide property, oji ii " '1 "Stil!i il 1 rk " .' rl.eol t)uKtt in I'lay Ground In Junt 3 bliwlc from tlio New llli;h .School
Every lot has 6 foot sidewalk. Nine r w la nes l.nw Iter I uilt In tin trnet thn venr. Why not youm, be the Next?
Is very choice Knstsldo property, in fnct there in none better til Tillnmook City. Thin now plnttlng, in in thttl tr;i(lt of IttrnI an tho Kt of I'AHK
STREET to "Lovers Untie" nil of whioh Inj North of the ('uint Rond mid Third Stuct. Every lot offered jt eimrwl hd 0tUr.ltiMcd in the
Citj at tho provuilinc price nnd ternm.
We have n mitnlet of prcst'eotivo buyer in thin property. Don't delny'tn innklni; your tiokctMiw ourly. Cfimo to this ollica uut wi will bo p!unctl
to sivo vnu further infornmtion :m to prireo upd turnw. ,
A small deposit, will secure your lot reservation. Contracts or Heeds will be made for you l?chruary liud
1DK5. Uon't wait, look after your choice oflots hefore the Choice tire Gone forever.
Free, Absolutely Without Cost, Your Money is Second Consideration.
To every lot purchaser, either in Kin or Goodspeeds Additions, who take contracts or deed, the Architect
Mr. J. 1. Strannhnn connected with this ollice, will draw you your plansund specifications for a home
ii you wish to build; tliee plans and specifications to be ol your own itlea'aml ehoosinlroni the many
handsome plans that lie has lot vour consideration. This opportunity is ofletvdto every aud(1all purchasers
from now until April 1st, T.H I This in itself is a special inducement : to those desiring to build and this ser-s
vice alone is worth a jrent deal lor which we absolutely make no charge, it is free.
ALL LOTS PRICED. TERMS: 10 per cent cash. Installments: 10:00 per month
ROLLIE W. WATSON, S&ZSM
Office in Todd Hotel, Ground Floor, Eoth Prones, OpcruEvery Dayfand Evcninrs(Until 10:00 O'clock
JFire Insurance in Conflagration Proof Companies. Buildinejand MortgaceLoanstonjClty Property.
Rentals and Collections. Taxes paid for. Non-Residents.
THE GIRL FROM j
THE GOLDEN WEST ,
RUN-DOWN WOMEN
The Star Theatre wan nnniri packed
lait night to witncBH thu porfnrmuncu
by the Dramatic Club of "Tho Girl
From the Golden West." This piny
is ho different from all others, it holdn
you intended, expecting, hoping, until
the end and then you wonder why n
play could hold you ho spellbound.
The players nre tho sarno as before
and seem to enter with tnoro Hpirit in
to their parts. Jim Iliner and Ann
lialdemnn sang a duet, aud rendered it
very well indeed, their voices blending
in harmony. Not only Mr, McCowell,
but all the members of the Club nhould
feel very proud of the success they won
in this play, and it is hoped they will
continue in the good work. This play
will be repeated tonight for tho last
time. Do not deny yourself thu op
portunity of seeing it, if you have not
already done bo.
Masonic Brethren,
Attention!
j Find Health in a Simple Tonic.
How many women do you know
who aro perfectly well, ntronn and
healthy as a woman nhould bo? Thoy
may not bo sick enough to Ho In b-l
but thoy nro rundown, thin, norr
oub, tired and devitalized.
! Women aro ho nctlvo nowaday.
nnd no much 1h oxpoctod of them.
I that thoy constantly overdo and tiuf-
1 for from hoadacho, hackacho, norroun
ncss and kindred Ilia,
j Such women noed Vlnol, our doll
clous cod llvor nnd Iron tonic with-
j out oil which will crnato on appotlto,
tono up trio dlgitHtlvo organs, mako
puro blood and croato ntronBth.
Mrs. Walter Prlco, Dlloxl, MIbh
fiflVS! "I Wnfl In n Tlin.lnun nrm1Htn
for months, I had takon sororal modi-
clnes but thoy scorned to do mo no
good. Finally Vlnol was rocommnnd.
od, and rom tho first bottlo I bocan
to Improvo until I am strong and well
as cTor."
Try a bottlo of Vlnol with tho un
dorstandlnK that your mono will bo
returned If It dooe not holp you.
P. S. For pimples and blotches trji
our Saxo Balvo, Wo guarantoo It
(Uias. I, Clough, Druggist.
REGULAR COMMUNICATION EVERY)
THIRD SATURDAY
A full attendance is requested
and nil visiting brothers are cor
dinllv invited.
ii'I' I!OW' ' NV" l1, Subscribe for tho Herald. It coram
C, Lv. Tkomiii.uy, Secretary. I twice a week.
MonZan
Reaction l,n hp.
Slept i4ln ImUiiily,
'Dm Gruji I'lln Koin
ily. I'm uphilnlac
wl"i rrcul uwb
Lumbago-Sciatica
Sprains
"Tho dircctloiu ryi, ii$ (jofHl for
luuibno too, Sloau't cured my
rhcumutlmiii I've uteil it mud 1
know." Do yott u Sloan'?
Ilr' Proof,
"I hi mr tmrk hurt In tlm liner Wr
niul two yrnri nju I wm lilt by utirrt
rnr. I lili-il nil klmU i.f ilotm wlllinut
iirrrM, I w your l.liilinrni In a tUut
tnm nnd Kut n UiltU lo try, Tlio flnl
liplli'ulliui cmiicd lii.tniit relief, mill now
'rjl't fur little tUTiirm. I mil nliuaat
iMtant R.li.f from Scltl
" I win krnt In l'd with .cl.tlcn dnea
tlio lint of l-vliruary, but I liwl alitinat In
tAiit relief when I tried your Uuluttnt,"
9prln.il AnkU
"An umt of yonr liniment for tlio lint IS yearn, I run y It I ono of I ho boat on
the market. Fifteen yrnnt ai I aiirulnad my anklo anU bad to mo crutrliee, and
th. doctnra inlil I wnnlit alway bo liiiiin. A friend ailvlwil inn In try your UnlMeot
ami after iwinar It ulvlit and mrnln fur three month I could w alk without cast
anil run m koim m uny of Ilia ntlier (Ireinen n my department. I hare never bean
without uOgttlotluco Umt UU1."- U' H iiliam U. llrx, C.nul l,l'h H. Y.
SLOAN'S
LINIMENT
At all Dealer. PH" ".r, aril ILOO
Slots' Iattractive lloo'.: on Jurjov, cuttiu, poultry sod hof, tent fM,
Adirt!, LU, Z,..L ii. U.c, B03TOM, MASS.