Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1905-04-29

!: LOOKER.ON IN IOWA !


kOOAEAsVlN IN AVWA /.
ACKNOWLEDGEMENTS
Ruthven, April 2s.-Evsrybody's
Magazine for May, in it's expose of the
beef trust shows that more than a
score of bank failures have occurred In
Iowa because of the ruination of the
cattle feeding business in this state
Even when in the reform business IL
is we'll to stick to facts. From a per-
sonal knowledge acquired by conversa-
ton with depositors ana officials OF at
least five OF these mentioned Iowa
banks. the writer is in position TO
state that the beef trust cattle feeding
and bad farmers notes, these as a re-
suit of the actions OF the beet trust.
had no more to do with the failure OF
these banks than the present war be-
tween Japan and Russia. For instance
in this magazine article. considerable
space is given to the failure OF the
First National of Grinnell 1t is a
matter of record that the cause of this
failure. the first cause dates back to
when "Charley" Spencer was cashier.
this twenty-five years ago, when there
was no beef trust And the immediate
cause was the defalcation of the son
wo succeeded him as cashier. SO. too,
the case of the Iowa Falls Savings
Bank, where Soule who is now SPEND
ing few days in the penitentiary, 1t
was clear case Of Soule's borrowing
the banks money without their know
ledge and consent and failing to return
it. And so on, list Of many bank
failures in Iowa can be made out,
wherein the beef trust directly or in
directly cannot be blamed. We are all
aware that the beef trust has
many sins to answer for, but
at least let us keep history straight.
The unfortunate part OF such articles
is that the reading public. knowing of
some of the misleading statements is
inclined to doubt other presented facts.
undoubtedly true.
In this same line there was recently
published in the Saturday Evening
Post an article which stated as q self
evident fact that the day of fakirs was
over That no longer could the
smooth guy work his schemes among
the farmers, because the telephone,
the trolley, and the rural free delivery,
had brought the farmers family and all
in touch with the towns, is the shrewd-
ness and general suspicion of the town
dweller, when the fakir attempted to
work his game Nothing could be more
misleading, both with reference to
town and country The falsir is now
merely working different game. Just
now there is a little let up, because Of
poor crops and consequent dullness OF
business in many localities but the
silver mine scheme as worked In many
Iowa towns two and three years ago,
differs not particle from the street
corner fakir, offering something for
nothing. In one Iowa town, while the
writer was there, a street fallir bought
% cents worth of soap at a grocery
store, borrowed kettle Of the landlord,
boiled it over again, favored it with
escence of wintergreen. put it In molds
about an inch square, when cold
wrapped each bit Of soap in
white writing paper, and sold
$12 worth of tooth preservative" at
% cents a package, the next day on
the street corner. The writer saw the
manufacture and the selling. That's
taking. But on the same day resi-
dent of the same tiwn sold eight dol
lars worth of silver mine stock at 10
cents share to the hotel clerk and
dining room girls. There was an in
corporated mining company, the stock
was genuine, the seller got half of the
amount for commission, but this was
business-fnance, as 1T We're.
Men are making good living in
Iowa today, making big wages, paying
livery bills and hotel bills by selling
whisky to individuals, shipped direct
from the distillery to the consumer.
Intelligent farmers, otherwise pay such
agents, or agree and do pay when the
stuff is received, 81 to Sc gallon, when
they could buy a gallon of alcohol, 4
little favoring extract, a little burnt
sugar, to which add five gallons of
water, and have six gallons of pure
whisky direct from the distillery." To-
tai cost of such pure whisky, six gall
lonns. $150. Yet these farmers and
agents thousands of dollars worth Of
this stuff at 81 per gallon, express
C. O. d., packed so not to give knowl-
edge OF COnleHlS. LIS, Ol COuISG, IS
not taking, it is business, buying goods
of a travelling agent.
There has grown up in this country
a manufacturing business, IF
of supplying mail order houses with
all kinds of goods needed in their
business, at prices which enable these
houses to offer and sell any manufac-
tured article at less than regular rates
Goods of all descriptions are made
specially for this kind Of dealer and
their purchasers. Manufacturers call
such goods Seconds" Only a short
time ago the writer saw letter from
one of these concerns offering a car
load of sewing machines at So each
which was claimed could be easily
sold at s25. Buggy manufacturers now
make to order by the car load top bug
gies at $3.50. Shoes, clothing, all
kinds of hardware. the thousand and
one household necessities furniture
carpets, stoves, In fact, everything is
now manufactured for these mail order
houses who buy always in car load
lots and at seemingly impossible pric-
es. But bear this in mind. the manu-
facturer's name never appears on the