Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1907-11-06
COUNTY FAIR MEETING.
REPORT OF THIS YEARS FAIR READ
AND OFFICERS ELECTED.
Treasurers Report Shows a Net Balance in
the Treasury Of $626.25, After Paying
all Expenses. Preparations for
Next Years Fair.


sheik County Agricultural Society
was held on Friday afternoon at the
small court room in the court house
The meeting was called TO order by
Vice President John Young of Hespel
township, who occupied the chair
until President G. f. Baker arrived.
a few moments later
Treasurer l.. l.. Caldwell then read
an itemized report of the receipts and
disbursements of the recent fair.
which showed the following totals:
Balance from last year. $ 8. SO
Received from ticket sales 2,477. 60
Received from privileges,
grand stand, state, etc $50. &c
Total receipts from all
sources. 1854. %, l4S. OO
Total expenditures as per
itemiZed report .. 2,516. 60
Balance on hand .... 1895. 29
On motion the secretary was allowed
800 and the treasurer $25 extra for
their services, restoring these salaries
TO the amount which it has been
customary for the society to pay, but
Treasurer Caldwell declined to accept
this additional amount.
The society then proceeded to the
election of officers for the ensuing
year, which resulted in the following
being chosen:
Observation-Disclosures Bear
Vice Presidents-John Young, F.
H. Baker.
Secretary and Treasurer-L. l.. Cad
well.
Executive Communicable Bear, H.
j. Green, f. II. Baker, L. j. Curtin,
q. j. Weiser and foregoing officers.
On motion the salary of the secre-
tary and treasurer was fixed at 5000
for the ensuing year
The second week in September was
chosen as the dates for next year. fair
On motion a committee consisting
of John Young. Ed Brakeman, w. I.
Symonds and Mrs. J. H. Baker was
appointed TO revise the premium list.
- This concluding the business before
the society the meeting adjourned
s
One result of the financial panic is
certain TO be the revival of a demand
for anticipation legislation, such as
found expression in the Hatch anti
option bill. which came near passing
congress dozen years ago. This bill
made it illegal TO deal in stock ex.
change futures. - 1t has been pretty
conclusively shown that the present
panic would not have occurred but
for the enormous volume of margin
gambling" in all the exchanges New
York banks alone had nearly $400,
900, 600 loaned on borrowed" securi-
ties put up by operators to protect
their margins on the exchange. This
exceeded the amount loaned by the
same banks to ordinary commercial
enterprises. 1t is not claimed that
the banks were not in most cases
amply secured, but that the money
loaned served no useful purpose, only
TO provide stakes for the biggest gam
bling game in the history of the
world. Under the present system a
daring speculator who does not own a
share of stock in the world can offer
thousands of shares for sale, thus de-
pressing the market until the specula>
tor can buy at lower prices and make
good his bargain. There is also a sys-
tenn of wash sales between two
friendly brokers, the transaction stop
ping as soon as the new quotation
gets on the tape. While against the
rules, it has been proved that these
. fiction" sales are largely resorted to.
The enemies of the present methods
claim that laws forbidding margin
selling and to prevent banks loaning
money in support of such transactions
would stop fertile source of panic,
and would release immense sums of
money for Legitimate industry
We are in receipt of letter and
circular from state superintendent
John f. Riggs with reference to the
new state teachers examination law.
This is issued because of the com
plant being made in different parts
of the state that the present examina.
tions sent out from the state superin.
tendent's Office are too rigid, and the