Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1914-02-05
ENTIRE ISSUE OF CAPITOL Ex.
TENSION CERTIFICATES
SOLD IN STATE.
TAKEN IN SMALL LOTS
~ INVESTMENT SEEKERS
Sold to individuals and Not to Bank
ers-situation Shows Stability Of
Iowa Finances and Confidence Of
Public in State Government-Drus-
siats and Liquor For Medicinal Use.
special to Times-Republican.

DeS MOineS, Feb. 5.-Financial con-
ditions in Iowa are good, the people
have confidence in their state govern
ment, they have money to invest legit-
imately, they are willing to support IN
substantial manner the efforts OF the
state to make progress and they are
not frightened at any bugabocs.
"The first issue Of certificates against
the capitol grounds extension and i'm
provement fund have all been taken
promptly" said Ray Nyemaster. repre-
senting the brokerage house of Bech-
tel &. Co. Cali of the certificates have
been sold in Iowa to Iowa people. 1t
might have been anticipated we would
have to rely on sale of large blocks of
the same to banks, but not so, for prac-
tically all have been taken by indi-
viduals and in comparatively small lots.
They have been called for all over the
state and have been widely distributed.
Nothing We have handled has ever been
more readily and freely taken by the
people"
1t was published that the state sold
an issue of 100000 of these anticipa-
ton certificates to the firm. 1t did moth
ing of the kind. The firm merely
handled the same as the agent for the
state, as matter of convenience. and
they were sold to investors at par. They
were sold for just what they are-aE
obligation of the capitol grounds ex-
tension and improvement fund to be
paid out of the proceeds of the mlisage
tax already levied.
"This situation as to these certifi-
Gates speaks well for Iowa and Iowa
people," continued Mr.. Nyemaster. But
also bear in mind that in the past doz-
en- years Iowa people have financed the
project of tile draining and ditch drain
ing vast areas of the state, at cost
greater than the entire cost Of the Pan
ANA canal, and all this has been done
without ripple in finances. A very
large part Of the money for this vast
enterprise was furnished by Iowa peo-
Pile. And they have only just COM
menced their work Of improvement.
They are going to expend other mill
lions in this drainage system"
When the state pharmacy commits
sion refused to make an arbitrary rul-
ing as to what quantity of alcohol or
other intoxicants a druggist might
properly keep on hand for the purpose
Of compromising, without violation OF
the law, provided he does not have a
legal right to sell such liquors unmixed,
1t caused great many druggists to SIT
up and take notice. The question came
up where a druggist had been sub
jected to persecution because some 10
cal officer found nearly a quart Of al
cohol on the shelves along with other
medicines. The druggist claimed this
was not an unreasonable amount to
have on hand and that he used it for
filing prescriptions. He wanted ruiz
ing to protect him.
But the question is the same as the
one as to how much whisky a man may
have in his own cellar for personal
use. 1t all depends on the circum-
stances. No fixed rule could be made.
The pharmacy commission found that
each and every case would have to be
determined on its merits and in the
light OF all circumstances. druggist
In the city doing an enormous business
might need several times as much as
the sman town druggist. A druggist
engaged in compounding large guam
titles Of certain medicines might have
use for barrel Of whisky at a time.
1t is not known by all druggists that
they have legal right to keep intoxi-
eating liquors on hand to be made use
Of in prescriptions and that they may
legally use the same when the intoxi-
cants are so mixed with other drugs
that their character as possible bev-
erage would be destroyed. They may
do this without a permit; but they will
have to take chances on running afoul
Of someone who thinks they are keep
ing too much on hand.
80
1t is expected there will be perhaps