The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1906-09-04

nd In consequence It is likely that the
law will be modified in that respect II
the commission decides 1t has any dis
cretionary power.
The express companies, who for the
first time are made common carriers
by the new law, are ashking further
time in which to file their rate sheets
with the commission. This is not sur
prisng for no One-nOt even the agents
OF these cOmpanes-ever base been
able to figure an express rate twice
the same way. An instance Of this
was cited before the commission when
member of congress showed that
he had sent his typewriter forward.
and back between Washington and his
home ten times during the past Ave
years and had never paid the same
rate twice. The charges ranging be-
tween IS cents and $1.65. When the
new law Is put into full operation this
will not be permitted to happen.
The sleeping car companies, also
made common carriers under the law.
have as vet filed no schedules but they
must do SO and the general belief Is
that the general public will be bene-
fitted materially, because as matters
stand sleeping car charges seem to be
based neither upon time nor distance
bunt solely upon the arbitrary dictum
OF the employees and officials of the
companies.
The insurance business in the
United States has not yet reached that
stage of development which 1t has at
tanned in England. Up to the present
time no company here has been organ
lied to guarantee an insurer against
loss through the death of ]. Pierpont
Morgan, JON" Hill. George Gould,
Jim" keene, or any other of the great
Wall street manipulatOrs whose de-
mise might affect the market. Such
corporations are in existence in Eng
land.
In the United States 1t is easily pos
sible to secure policy upon ones
life. Fire, cyclones and accidents can
be guarded against by means of an
insurance policy. There are COM
panies which will guarantee you
against loss by cyclones or burglars.
There are other companies which will
insure you plate glass windows against
breakage and your live stock against
death. Ii you are a ship owner you
can by paying moderate premium in
sure yourself against lassc through the
wrath of God as exhibited through
ocean storms. If you are merchan.
Is Is possible to avoid loss through
making bad credits through taking
out policy through credit insur-
ance company. The bankers of the
country have an insurance company
of their own which insures those who
the members of the Organization against
the bogus check operator. but up to
the present time the bank depositor
has been neglected by the under!
writer's.
There are $4,000 banking institutions
in round numbers in the United States.
OF this number 1000 reported to the
comptroller of the currecy during the
past fiscal year. These reports showed
that there were on deposit, in round
figures. twelve billion dollars during
the last year. The stock of money in
the United States approximates three
and half billion dollars. 1t will
readily be seen therefore that If every
depositOr in the country should de-
mand the amount due him less than
one-third of the depositors could be
paid, even assuming that the banks
could control the entire stock of money
in the country. 1t is obvious that
run on all the banks would thus create
financial chOas.
Last year the liabilities of the banks
which failed aggregated $4,000, 900,
about half of which was owed to de-