Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-04-29
POSTAL SAVINGS
BANK BILL BLOCK
Standard Oil Hostility TO Measure
Voiced in Circular From
New York.
PROFITS FROM FLAX SEED.
Big Call for Binding Irvine Gives the
Industry a Pronounced Boom
Chicago News Letter.


Chicago. April 26-The mutilation q
the postal savings bank bin. which tho
senate passed and the house committee
pigeon -holcd. becomes peculiarly inter
esting in view Of the Standard oil hos
tility 10 the measure which has been
voiced In a circular OF the National
city bank OF New York a Standard
oil institution The hostility proceeds,
il appears. rot from doubt Of the pun
lie benefit Of the measure but because
the premium on securities held by rlg
banks Is affected. Prom every DO!nl
Of view the postal savings bank bill
as IL passed the Senate is open to oh
lection" the circular declares '"rha
provision relative TO the Investment OF
deposits In government bonds in time
~ war or great national crisis Is par
ticularly unfortunate. In order 10 So
cure the passage OF the bill through
the senate a compromise was effected
whereby postal deposits invested in
government bonds at such times
should be only In bonds bearing not
less than "a per cent per annum. This
Is construed as a deliberate discrimina-
tiOn against the S13l 100000 per cents
which the government has already is
sued" The propaganda Of banking in
terests against the measure has dis
closed cOmplacent belief that the meas
ure had been put to sleep-to wake
again however The Journal Of the
American Bankers association de-
clares But with the report OF the
national monetary commission. which
Is likely 10 be made at the next ses-
sion and the strengthening OF the bank
ing systems OF the various states whore
weaknesses exist. the American Bank
ers' association viii be in a better po-
sition to still show that there is no
necessity for the establishment OF post
al savings banks" Senator Aldrich's
monetary commission Is loaded to XIII
postal savings banks II the people who
need them do not wake up and de-
mand action by the house in Congress.
BOOM IN FLAX CULTURE.
The loosening Of the moose Of the
sisal hemp monopoly Of Yucatan,
which has had the American farmers
needs for binding Irvine tied fast, Is
proceeding rapidly with the increase Of
hax- growing on the new lands OF west
ern Canada reported on the Chicago
market. The profits from the fax seed
have been so great Of late that the
acreage has increased by leaps ana
bounds. now that the fax fiber serves
the new purpose Of Irvine. Some ex-
ceptional crops are reported from Al
berta along the Canadian PacihCs
main transcontinental line. One farm
or IN the Bow River valley who had
81 acres planted in fax last year. which
yielded 20 bushels Of grain to the acre.
was offered SEA per bushel OF $50 o.
per acre for his crop, a total OF more
than $500. This is for the seed alone.
which is used for the manufacture Of
oils. The fax plants are also utilized
i'm the manufacture OF linen. paper and
Irvine. Almost as soon as the modern
twine-using self-binder was invented
the American farmer began 10 pay
tribute to the hemp growers Of Yucca
tan. For years the sisal hemp grown
in that country was not only the best.
hut practically the only hemp available
for making binding Irvine A. the de-
mand for Irvine increased the Yucatans
put up the price time after time. and
their tributes from American and 9th
or farmers soon made them enormous
~ wealthy A few years ago a big
harvesting machinery company began
experiments I'm the northwest with fax.
hoping to find in its fiber a substitute
for the sisal hemp OF Yucatan. These
experiments have progressed so salts
factorily that now IL Is only a matter
Of time whom most OF the binding
Irvine win be made from fax grown
in the United states and in western
Canada.
GRAND OPERA.
The taunts and gibes Of Gotham AT
Chicago's conspicuous lack Of enthu-
siasm for grand opera OF the upper reg
ister have been based on fact-Chica-
go. I'm this halyOOn time OF spring. au-
tomobiles and strenuous business has
not been willing 10 sit up nights In its
best bib and tucker and most expen-