The Cedarville Herald, Volume 55, Numbers 27-52

?W & T Z iU ,t : MfcifiAM), FRIDAY , AUGUST 1 0 ,193& m i ^ S - T H E C E D A R V I L L E H E R A L D ifia i E2 KABU I BULL — E D IT O R AND P U B L ISH E R Etttered at the Post O ff *,?, Uedarvjlle, Ohio, October 81, 1887, as s'.econd class matter. M*itBKA~Ha’liiu4 Kdltcilkl amw .; OW# A*foc,; HUal Vxll.y Ppm A moc . FRIDAY , AUGUST 19, 1932. I Xenians have a new topic fo r dis­ cussion that is giving the depression, the tariff and prohibition a rest. The filing o f an expense acc,v at by the State Banicing Department in conhec STOCK MARKET A GAMBLER’S MARKET Much ado is being made about the rise in the prices of stocks on the New York Stock Market. It is being pointed out that business conditions are improving but the propaganda is I tion with the liquidation o f the Com nothing more than a bait to get' more buyers into the market, merdal Savings-Bank in that city, As With the increase of price in certain stocks ninety-nine percent a result some harsh words are being are paying no dividends.' Some of these stocks are in compan- Bpoken in most quarters. The depart­ ies that are all but bankrupt. Some can have little or no busi- ment is continuing the defunct bank ness until our tariff laws are revised, Consequently the market in the Allen building at a rental of situation is one for gamblers only. It has no signs o f being an $15° a month. Depositors are want- investors market, ' inZ the department to, take a Becond A Xenia business man stated some days ago he had made G°or room in the same building at- $25 a venture in the hope of taking a nice profit. The stock went up |a month and save the difference. The several points after he made his purchase. When he could j department evidently cannot see such double his money he put the stock up for sale but at that time economy as long aa it is spending had not found a buyer. We do not believe the stock market is I other people’s money. An expense ac- much of an indication of the return of stable business condi­ tions. Paper profits have very little purchasing power. The vast number of people that dabble in the stock market are not in the market for farm crops, paper products, steel or any other manufactured goods unless it would be an automobile or cloth­ ing. For solid business revival men in factories mustbe able to have employment. Farmers must get a little more than living wages for crops and live stock. The first wealth o f the nation came from the soil and there are many that still believe there is where the start must be made again. , Antioch Colltge has organized Mid- wast Exchange to net as a central clearing house fo r the surplus o f its coUagt industries* and co-operative 1 student*’ services and the products o f ' manufacturers employing* students, i •t is proposed that students having employment or those who, can get it only by taking products fo r their pay shall have a place to barter and thus be able to pay their tuition. It | b sug­ gested that a student working on the five-week plan take credit for goods arid then turn this credit over to the company to sell‘ for the tuition. The plan is something new to aid college students. It may have another angle as a system o f competition with meal merchants in Yellow Springs. To what extent this cannot be estimated. count o f more than $3,000 fo r the short period the bank has been, closed would indicate the department evi­ dently was enjoying war-time pros­ perity. CANCELLATION OF EUROPE’S DEBTS Would the cancellation of Europe’s debts to the United States improve business conditions iu this country ? This is now a very much debated question but there are underlying facts that are seldom ever mentioned.” The demand for. cancellation of foreign debts first came from international bankers that had private loans in various countries. These debts cannot be paid if both insist so the international banker wants all of the people in this country to stand the loss of billions so the bankers can get their'loans paid in full, It would be just as great folly to* s^y that all loans by building and loan associations on farms and homes should be cancelled to help right our- economic troubles, and give every one a clean fresh start. With cancella­ tion of these farm and hortffe debts who would be the looser in the transaction ? The man or women that had deposits of cash in the financial institutions. Cancellation would aid. one set and bankrupt another. With the international bankers the loans As will be noted by a correspondent in this iBBue people are not taking kindly to the talk o f .the State Bank officials that the bank officers and di­ rectors were incompetant and the bus­ iness badly managed. We have no apology to make for the former offi­ cials of any closed bank. Whether they were qualified, honest or dishon­ est is not the. question. Every state bank is under the State Department of Banks and supposed to meet cer­ tain requirements and undergo regq- lar, inspection that the1,business was in safe hands and properly conducted. That was supposed ,to'be the guaran­ tee to the depositor that his money would be safe. With the failure o f scores o f state banks in Ohio the reflection must be on the state bank department. The situation also is a reflection on any state bank that has been managed properly for such an abroad were made voluntary as an investment. Uncle Sam , . ... .. . . . made his loans from a standpoint of charity in a time when the Imstlt’atlon must ca n y part of what it war stricken countries were appealing for aid. A debt is a debt whether is it between individuals or nations. With individuals ability to pay is a part of the deal but with nations they should be compelled to pay their debts. TAXPAYERS MEETING A GOOD-THING- The group that gathered at the school house Monday even­ ing in session with the Board of Education to consider school taxes and school problems, is what we should have, at frequent intervals. With such meetings, regardless of what body calls them, there can be much good accomplished. There would be a better understanding about the cost of the different branches of government. Such meetings bring public attention to pub­ lic affairs, all of which have not had, the attention at home, in the county and the state in the past, they should. Those were th‘e days we all were trying to find a way to spend our money. . It was either another farm, town property, automobile, radio, farm implement, or where to seek pleasure. Such meetings bring out interesting debate as to how cer­ tain things can be accomplished and if not what hinders. It is the place we find more about legislation in application as to its effect. With conditions economically as they are taxes natur­ ally come close to all. The more property a man owns the more tax he must pay if it is levied .equally and fairly against his property. Now we find the more property a man owns the less income he has and of course taxes are a much greater burden We remember an item of expense of the school board in the cost of elections taken from the board’s funds. While the amount was small it was a surprise to many. At the same time the village pays a great deal more for election cost than the school board. Then came the question as to why it was nec essary for such a burden. The answer was that the law pro­ vides for four voting precincts in fJedarville Township, includ ing two in the village, when one in each would be sufficient. We might also mention what election judges and-clerks get in the .way of compensation. It is much greater than what is paid for jury service, which carried a small fee but the juror was ex pected to consider at least part of his time a patriotic service, Election expense should be looked upon the same way. While the. meeting was in response to a petition of taxpay is not responsible for. It is also peculiar situation than in a number o f neighboring counties where nearly twenty state banks have failed, not national bank is in the list that we know of. If incompetancy has brought the downfall o f all these states banks the Union Trust Co., Dayton, was in the same list for it failed for mil ions o f dollars and more than forty housand depositors went down with t. . From what we can hear from over he state there is a general feeling o f II will against the Ohio State Bank Department a3 to the manner being ised to liquidate defunct banks. The jne thing is sure the cost o f Iiquidet- ng closed, banks has not dropped with the income o f the farmer, merchant >r laboring man. It. has not been much over tWo years igo that the Ohio State Bank Depart- nent had men soliciting among the lational banks in this state to give jp their charter and go in under the jtate bank department. It was point 3d out the possibility o f making more noney under state supervision than uhder federal. State banks could en gage in certain profitable practices that were not permitted by the feder­ al government. A t that time we re call a statement o f a former nationa bank president that he had been so licited and it was pointed out that the Union Trust Co.. Daytona would make more money, it being the union o f the Dayton SavingB and Trust Co. and the City National Bonk, The Union Trust BAKGAIN IN BUILDING LOT PILES The only available building lot on Chillieoth Street. Located on corner o f alley in good community, o . h. m c f a r l a n d * ! 1217 Glendale Ave. i Apt. A-10 Davtop, Ohio The last covered bridge on the ot. National pike has given way for ; new concrete bridge spanning ,Mad River west o f Springfield. The old iridge was erected in 1837 by John Sriivley, Springfield carpenter'. One woman figured in the contract in that Mrs. Christine Herr secured the .con­ tract to supply the wooden connect­ ing pins to be used in framing the bridge. They were o f white oak.. The bridge was in good condition when dismanteled yet not strong enough to carry the heavy modern trucks.. From parts o f the old bridge Frank Miller o f Springfield has made an exact rep­ lica o f the old bridge and it will ho exhibited at the coming state fair. The Ohio convention o f the Ameri­ can Legion has been holding forth in Toledo this week-and a stormy tim& it has been for certain speakers. The boys do not seem to be in a mood to hear from politicians and adopted an amendment to the resolutions de­ manding immediate payment o f the bonus find n o t /’urging’’ same. Sena- Robert J, Buckley, Democrat, had his troubles being heard and when it came time for Sen, Fess to speak the chairman had to demand order. The Senator was coldly received and never mentioned the bonus. At his conclus­ ion he was booed and jeered. The Le­ gion does not seem to be under any political control, having been fooled now too often by the politicians. era of the school district to consider the state aid- school prob-1 t e m M i d g y w d b teR a tMme > r i ^ f t w v n n l * « “ * } * “ |hat a paiMul memory ta aoia. tort, or more thousand depositors. How board willing to co-operate and yet provide a school term that would not lower the Standard of the school. It was shown that without state aid transportation could not be continued and with delinquent taxes there would not be revenue for'more than a few months school. The group present found that with or without state aid, the school board was under oath to continue the schools as directed by the state. the state bank department looks at the Dayton situation now we do not know, but if like what we hear from Springfield, South Charleston, Wash­ ington C. H., Xenia, and other places, the whole load is put on the local o f­ ficials and not the examiners o f the state department. to l k W i OHIO S T A T E FA IR "WASHINGTON LIVES I " CAST OF 1200 S EE this great historical pag­ eant-drama wiih YOUR coun­ ty taking part. Enjoy the $ 15,000 harness racing program, MW- piece bays’ band, Junior Fair, polo tournament, night horso show, pot shows and the greatest exhibitions of sheep, caUb, live stock, poultry and^ agricultural products in Ohio’s history* A d m i s s i o n * f t o d u f i o d l Only 25 esMt «t the Aim 25-csnt •» th* " or** thaw and "Wsthington EARLH.HANFfElO,Off. C,M.MCftMJ>' It has been frequently said in many places that the Exchange Bank was insolvent following the . O. L. Smith trouble. If we recall correctly three representatives o f the state depart­ ment were present and approved the transactions required when Mr. Smith resigned. I f the institution was insol­ vent it was opened in that condition with the approval o f the department and no blame can be placed elsewhere. A review o f some history a few years hack will be interesting. The story came from the late P. M. Stewart o f Yellow Springs, who warned Robert Elder against his connection with the Exchange Bank. Both had been as­ sociates in the hanking business. Both had, interests in the Yellow Springs and South Charleston Banks, Mr. Stewart would not stand for Mr. Elder coming to Ccdarville unless he severed his connection in Yellow Springs. Mr. Stewart also disposed of his interests in South Charleston at that time. Mr. Elder came to the Exchange Bank and with it followed the realization o f Mr. Stewart’s pre­ diction, which was adverse to the state bank department, and Mr. Elder had the double honor o f being one of the official pallbearers for the burial o f two dead banks. And yet the bank department continues to pass out the story that banks fail owing to bad management, when every state bank in Ohio operates only under the State Dank'Department with its galaxy o f ; inspectors, examiners and political claptrap* I f .the National Economy League, has its. way in Congress in December itiscertain-that-thoOsands^oiLLegiDJO men will loose their compensation in some form or another. The League claims,the..government is spending too much money on the Legion . but the League never utters a word about Uncle Sam’s money going by the bil­ lion to the old country, never to re­ turn, ' International banker* profited by that deal*. Had the Legion received heir bonus money it would have been spent in this country. Aa a result no one new aees how the Legion can hope for. the bonus for sdme years to come. One o f the new forma o f taxation o come up this next congress will be he sales tax. This may apply in some 'orm to everything sold, wholesale or ‘etail. While many new taxes were' idded to balance the budget no pro­ vision was made at the last session to tore fo r several hundred million inter­ est on loans o f different kinds. The tales tax was up at the last session sut defeated when the farm bureau •rrange, manufacturers, retailers anc vholesalers objected. With more tax noney necessary the government is mow making arrangements and plans lor a saleB tax to cover the interest. , The Democrats will all be headed for Columbus the last o f the week to hear Goy, Franklin Roosevelt, their candidate for president who will speak in the baseball stadium where more than 30,000 people can be seated. T t is to be the opening o f the Democratic campaign and the radio will carry the address all over the country. Thurs day night last President Hoover gave his acceptance speech from Washing ton, that was heard over the radio. The President went eVen farther in his address on prohibition repeal than the party platform adopted at Chi­ cago. The President wants certain restrictions fo r states that will re­ main c'dry. The Democratic platform is for repeal. What Roosevelt will stand for no doubt will be announced at the Saturday meeting. . and ell other rectal disorder*, together with Varicose Veins, may be painlessly .and per­ manently healed by our mild, office methods, THE DAYTbN VARICOSE CLINIC SUITEI AND2. (UlIHBLpS. DAYTON, OHIO FOUSTSAH* JefflEMOHSTS* FcAMSAby ti > k om en or Pr. Q. *. LONOUrcrrn - WRITS FOR FRCEBOOKLIST 'It was six weeks ago Wednesday since we had had a rain that gave the ground a good soaking. There have been one or two occasional showers in the meantime but not ei. >ugh to wet the ground. As a result much tJf the com and most all o f the garden crop will be cut short. Corn is burning and the grain on the cob is not filling as it would if there was the proper moisture. Pastures are drying up and this will shorten early fall feeding to a large extent. State Republican Candidates Going To The People Iowa farmers are on a rampage and taking things in their own hands much like the coat miners in southern Ohio. The farmers have a program designed to keep farm products from reaching the markets to force the j price up, When a farmer starts to ! market with produce, milk or cream, [ he can take it back hom.e or it is c o n -! fiscsted and emptied along the road,j Cream company trucks meet like fate ; and the civil authorities have not been able to control 1500 farmers that are ! patroljng.roads in certain sections,!, Conditions are" very similar as in the day* o f the 00’s when the panic was at its worst. Then riots broke out in all sections o f the country. The Ohio Republican caravan is shown at the conclusion o£ a state wide tour of the 22 congressional districts. State candidates and leaders met with enthusiastic reception, fore­ casting, they said, a sweeping Re­ publican victory in the November elections. Ten meetings were held by the group in key locations. State candidates on the tour met with chairmen and leaders of each of the 88 counties.. ' From left to right: Tony Ed­ wards, executive secretary, Repub­ lican State Committee; Charles H. Lewis, campaign manager; Charles R. Sherwood, representing Gilbert Bettman; Ed Martin, representing the National Administration; Earle L. Johnson, representing David S. Ingalls; John ■W. Bricker, candi­ date for attorney-general; Harry S. Day, candidate for re-election as state treasurer; Joseph T- Tracy, candidate for re-election as state,fauditor; Lee B. Palmer, can-117th district; Congressman G; Ellis governor; Gilbert Bettman, candi­ date fo r United States Senator? Judge Edward S. Matthias, candi­ date for re-election as judge o f the Supreme Court; Judge Frank W, Geiger, candidate for judge o f the Supreme Court; George C. Braden, candidate for secretary .of state; George TL Bender, candidate for congressman-at-large; Judge Car­ rington T. Marshall, candidate fo r re-election as Chief Justice o f the Supreme Court; William M. Mor­ gan, candidate for congress in the didatc for lieutenant governor. David S. Ingalls, candidate for Moore, candidate Tor from the 15th district. re-election Extra VALUES T i r c s f o n e COURIER TYPE ' $^ 8 8 Z • TWO EXTRA GUM-DIPPED CORD PLIES UNDER THE TREAD This Is a patented construction, and the two extra Gum -Dipped card plies are. to placed that you get 5 6 % stronger bond between tread and cord body, and tests thaw 2 6 % greater protection against punctures ana blowouts. It sets a new standard (or tire performance on high speed can. Tough, live rubber specially compound­ ed for long, slow, wear. Scientifically designed non-skid gives greater trac­ tion and safe, quiet performance. e a c h W j f . WHEN BOUGHT IN."PAIRS 3 0 x3 * i Cl. T i f c s f o n e SENTINEL TYPE . H f e 4 9 ^ B E A C H ■- . j W ' . 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Special Ri'.inil ’lir»»a mis anacio vilhnut tlifiKMri’ni'.vti.ve/r irss.sc. ’i'i’ -y nro ftolil v 'lhut.t p ai.ru* |;-o or raatsr. -oil * •«s>* »o, Lv;ry Fit. ' S ,irn . ,o 1‘ irc -tr i> .> ......... ’ i « •!!:v p “ * < u SENTINEL tYPfe SIZE _ d.dO-21... •1.50-21 ... 4.78.19.,.. 8.2.1.31. •Sparu €tthFife# SnndMil) OrdMTkt task Pik* lat.R •3>59 13.59 3 .9 5 3.95 4**3 4.63 4>*5 4.85 5 .9 9 3.08 Out Caali Pik* PafPik •*•9* 7a** 9.06 9.44 XX,*4 fithtrSim IVi ;utiUm«Mr Leo RALPH WOLFORD ;T$, iar- 5Tfu IOCA Master is visiting mother,. M Mrs. J. Tue.«day 1 guests tlif The Dir ___ nie at ti;»- Friday e\ Mrs. A. , and sicu Sharpavill ____ after a v.- this vieiri.' Mrs. K. Wilmah F visited foi with Mi. Louisville Mrs, lb past wi l l, family al. turn she residence Elm stiei, Mrs. II at her ho after an : heart tro Fetz die:: _____ eral wac . with bun ’Senati is, can I he Ki ge- of J tained la 'rank' pleasing ge of 1 and Mir. - Brad was light sta uiate even,nK ulge C .meats w. 3idate ing. • ice of M. M ; . . . ess in Win MCE . s Tires u p p i fOISC B.'i.:i9 [3A1 ►4.63 I t.Ulj h ;.' a V /.: