it”! 50011! warrant m It nut In mama that no» STEEL rnusr CHIEF
" i new
,r' “1.18380 BY
r was comes:
W
;.,.t L A!!!) A. L. GOLDEN,
- normals
'ssnav, m“, 1916
TOIORROW
lids ":56 a. 11:41:33 p.1n.
. sis. 5:32: sets 6:08.
the summer. rate
PHONE CALLS
nouns—92.
, sugars.
s Residence-Joe.
"HASONIC uinnc'ronv.
#
wall W, No. «is. r. and A. u.
, ms in Masonic Building, South
- start. tst sad and My of
month—July and August ex
-—-at I o’clock. All Master
1: W cordially invited. Arthur
yflm w u. Robertl. Wilcox.
' , Isa.
éotiorchaptho. as, n A. M.
floats in lasonic Building, South
.011! street, Ind and lth Tuesdays
T‘URE ”MANAC FORi
in
bed warriu with germany could nurt'
her far more than we could.
if Holland shank really decide to)
east her lot with the Allies, Genuany!
would be doomed. The Dutch could
hold the German and Belgian (nation:
until England poured 1 000, 000 men in
to the country, then there would be a
luharp. powerful drive for the heart
of Germany. At the very least, the'
Germans would have to withdraw from '
Bdgiun and shoten lhetr lines. At
the worst. they would be driien back
to tha Rhine and forced to sue for.
poem.
That is what Germany has risked by
her policy or senseless assassination
of neuts'al at In“. which has receiv-g
ed powerful slipper! in the Reichstag‘i
even in the face of this perilous re-i
aentment.
l
I
THAT “UNFAIR” All“ PLANT. l
Whatever arguments may be pro-
perly made aginst the establishmflt
of a government armor plant, the
charge that such competition with.
present private plants would be unfair}
and confiscamry is hardly one of them.
Most of the pleas made against the[
measure seem to have Mn meant for?
the protection of the Bethlehem
Steel Company. It has been argued
that the company‘s 87,000,000 armorI
plant would have to be shut down iii
the government went into the armor
INDICTED.
Opening
if
d each month—July and August as-
.pted-mt 8 o’clock. All Royal Arch
Charles
We cordially invited.
;A.'ruck.l{. P. F B. Lyonseo.
Ire—w“.
ass. we DECAusNrr
' According to Prof. Dudley A Bar-
gout, Harvard gvmnssium director we
business.
were a poor, struggling corporation
to this appeal. But it happens that
the compan, made “2 per cent. on‘
its common stock last year, and the]
r nutter
Mama“ viewed u inilittt y Imarket price of the stock has increas-
hi. on hopeless.
“Our forefathers,‘ lie says "we
Wears. men of hardihood and indo-
gcd about 1200 per rent.
If that $7, 000 000 amtor plant really
ha (1 to be scrapped " it might bring
h leeome
Nubia '“L used to 81 :ohyflcuwome hardship to speculators uho
. .lnglingofmeutal morn an p have bought stock recently for $5th
hrdlhlps and trials. Since then the
”oils have grown easier and washer
to $600 a share But the original own
ers who hate held onto their holdings
1 119 blur.-
mock h“ followed on we ra iwould still be able to share a profit
fit! by the. strong"
He tlnda on looking in "'lote
‘ ntry. manly vigor and the spirit of
paratlonf’ We have yielded su-
toJ‘the devitallling and over
lslng tendencies of modern
g and living conditions. Our
courage lacks the stimulus do-
and from the practice of many sports
' s only real and silpefjor substitute
1 ”.the stumulus of war." The pub-
In schools have failed in their duty.
V ‘even the. colleges ignore the ne-
ability for adequate compulsory phy-;
sisal education."
"Ia View of all those lamentable facts
we can't help wondering how it hop
" Igloul'that every time we have gone up
“slut the world's best athletes in
lit: the Olympic Garner, we haVe wiped
, earth with them. We wonder as
“lolly because while we have made
beacons-ably the best athletic show
in: of any great nation. Germany, tho‘i
llpnmemi litsry power. has been a:
":ikty and humiliated figure in every
. W
SW. can't find much convincing
drool of musical deterioration. And
when it comes to moral courage. which
the. professor think; is so dcoAdont.
‘ our thoughts on, somehpw, to the alt-
"m in Mexico. Thom Mexicans
i attacked Columbus. were men of
” life, living much in the open
our own pioneer ancestors, and
fed to hardship and peril. And
,of American troops under
lagoons conditions put 1.000
: 3‘ tonight, and when the invad-
inads .‘ stand across the
1st Asnerlcans fought or 800
- ‘ Subsequent events are
Z his now-
Boaton professor really ima-
menace of today use not
A material, Just let him
eye on that expeditionary
”“6111le
Wmutdmmflo
~ flush-saunas
similariti- monarch
“Mouths
‘ ,. «Millie-hya-
IiAmarfnuaeverwsraorer
“Wynn. asswhiaii'dss
3“? Insecttothmsfthsifaifsd
-d;of about 70 per crnt. on their truest-
ment
And as it matter of fact the plant
is not going to be at rnpped, shown;
the government makes its own armor
or not. if nmlor orders are cut off,
such plants can he diveted to other
useful and profitable work at compar-
atively small expense. and there Vii“
be plenty of time to make the adjust-
ment before the government competi-
iion begins.
~ »..———-o-—-—--~
The purchasing power of the Amer-
: loan dollar today is said to be only 61
per cent. of what it was from 1900 to
1906. Still. it's more than the pur-
chasing power of supposedly equal
quantities of British shillings. Pfencb
francs and German marks. And
what's more, we have the dollars.
__.._._._.____.
TALKS 0N BANKING.
Decountlng A Note.
it so happens in business that all
payments cannot be made in cash, for
most of the business is done on cro-
dlt in one form or another. Small
purchases and many of the daily er-
penditures are cash transactions:
but business as a whole moves on
credit. the form depending upon me
customs characteristic of that pecul-
.is1‘ business. The most common
form of credit is the book account,
new goods are sold and “charged"
to the purchaser. When you go into
the grocer's and tell him to "charge
it," you are opening a credit with him
in the form of a book account. This
is common to all retailing transae
tions. But in the larger dealings, the
credit is in the form of a-promisaory
note. which is merely a written prom-
ice to pay a sum certain. in money. to
a decimated person, firm or corpor-
ation, at a stipulated time. Hundreds
of thousands of these notes are made
every day. They are. given. merchant
to merchant, in payment of debits re-
sulting from the sale of goods, and
. while they settle the debt must them-
. selves be paid in money. in order that
ithe obligation may he finnally dia-
charged. for a pumice auras Ilqei
doles a debt.
If these promises could be treated
as money and passed from hand to.
hand. they might a'nswer very well.‘
but they are of nou-nnform denomina-
tion. their Mus-r last-Md
manly known. and even through
uwmmmmeW-wm howitandtsw
amummmmum ‘
mountains-mega» WRWWWWW‘
a-
wait”;
if the Bethlehem Steel Company
barely able to keep its head above ‘18- :
fer. the public might readily respond:
‘hnnk always has money.
émen and their ability to keep their
Inmmlses and can udre the quality of
‘the risk. A therefore client the note
i
4
i
Judge Elbert H. Gary, Chairman
of the Board of the Steel Trust.
Judgc Elbert ll tiary, chair-
man of tilt t""XCt11li\t t‘tllllllllllt‘t'
of tin l niitd .‘l.ilt\ Mu! (Airpor-
union has been indicted by tilt-E
grand jury at Yuungsiuun, ilhiu
lic is charged, iin thc ruling 11ffi<
rial of the sit-cl companies there.
‘with hill'llli: conspired to fix
wages of his \t‘nrktncn in Violation
of the Ohio laws. '
evidence of debt into money at once.
for with money—real money- be can
get better terms, and for certain pur-
poses, such as paying laborers. he
must use cash. There must. there-
fore, be some medium through which
he can turn this promise into money
before it is due-for a price—1nd that
medium is the bank. The. process of
doing this is called discounting. which
in other words means buring the file
per. A sample illustration will explain.
Suppose A soils B a bill of goods on
three month’s credit. A does not
want to wait while B sells the goods
and gets the money t0)” him, and
therefore offers to take B‘s note for
the amount. But the note is not mon-
ey, and if A would use the money, he
must find someone who will give hm
money for it. He might find someone
who for the hope of pain, would ad
vnnce the money; but the logical place
to get this done is the bank. or the
It knows
—to his banker. who says in sub-
stance: “I think B is good for this
amount. If you will endorse-prom-
ise to pay if he does not—l will buy
that paper evidence of debt from
you." Let us say it is for $100, due in
three months. The banker knows
that at the end of three months he.
will get the 3100. and so gives A‘
$98.50 for it. the 81.50 being interest?
on the money for that time at 6 per
cent. Ordinarily the banker would‘
not give A the cash. but credits his
account. with the privilege of check-
ing against it, which is virtuallyths
same thing.
Now, what is the result? A sold
his goods and got his money at once.
13 had three months to sell the goods:
to get the money to pay the note
when the banker presented it at ma-
turity. A could use the ”8.50 to buy
more goods to sell to G and the bank
has made a profit of 81. 50 for inking
up risk That is what banks are feel
——to take risks to know men, to help-
business and make profits for itself
And this it does to a very marked de-
gree. We could not do business very
well without this help. It is one of
the indispepssble adjuncts of‘busi-
uses. The promises of business men
held in the National Banks of the
country alone smount to o'er m,
billion dollars.
... .Amsrlosn Baaltons' Associatlcn.
mats-rte wnrr 1mm
4
.IIU‘:
Al He Takes l'aldisld WHO.
BURSTING the BANDS of WINTER with an AVALANCE of COLORS-
FLOWERS, ETC.
Sllflllil Brightness. ...... Wonderful Showing of
Days
Suits, Coats, Dresses, Miliinery,Etc.
THAT is EVIDENCE of our PREPAREDNESS to SUPPLY your EVERY NEED
Thursday, F ridayandSaturday
A CHARMING ARRAY
of the
SEASON’S MOST APPROVED MODELS
limb and every one features unlimited individuality in style
and quality.
Even though you do not intend to purchase, come and treat .—
yoursclf to this gorgeous di splay of spring apparel.
Styles With Diatinctiyeness That
Enhances Their Charms
Characteristic of the
NEW SPRING
H A T S
Such a diversity of design is sold-
om seen, and still everyone is ab»
lately correct in style, shape and trim-
ming. for the newest ideas are embod-
led in each, and you could well im-
agine they have been designed espec~
lally to please the individual tastes
of hundred different women.
Trimtninss are countless and odor
the widest scope of any man.
Styles, Quality of Fabrics, Work-
manship and Values Speak
for Themselves in
the New
SPRING
DRESSES
They are sure to interest you, if
you want the most stylish materials
atractiveiy made up in the smartest
new styles at moderate price-1.
You will be agreeably surprised for .
the styles are distinctively handsome,
excellently made of spring's most
fashionable fabrics in the most 909‘
ular shades.
This" ..., Wonderful flour ..t' Year When all Fashions Change
And the same splendid character and completeness
is seen in our ,new lines of accessories- notably
Gloves
Leather Goods
Ribbons
Veilhus
Ina-l
ll 1‘01! wish to soothe
New and Correct
“51110113,
Visit our store
Hacienda!
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Norwalk Chronicler