The Greenville journal. [volume] (Greenville, Ohio) 1850-1918, 1914-05-28
Saw Saves DeposItors.

| rlSon county, which he closed re-
Gently, indicate the necessity for
law either stlpulating what the
capital stock of private bank
should be or requiring such banks to
incorporate. THE safety Of the public
demands this" declared Superintend-
ent Lattanner. IN 1908 inspection Of
state banks was provided for and In
1918 We obtained a law empowering
the state bank department to inspect
private banks. Disclosures at the
Freeport bank demonstrate the value
Of such inspection" The Freeport
bank had a paid up capital of $4,000
and it was owned by three partners.
Superintendent Lattanner's investiga-
tion showed that the funds of the bank
were handled with the grossest care
lessness. One of the partners, in con-
nection with an outsider, used funds
of the bank In loans or oyerdrafts In
excess of $S0,000. The money was
used to exploit a non-productive coal
mine, Improbable timber lands In Ten
nessee, planning mill and lumber yard,
road contracting business and the OPP
Grafton of four oil we'll rigs. The pres.
ident, cashier and three other persons
borrowed $4,000 from the bank to be
used in the operation of stove fac
tory and foundry. This turned out to
be losing venture. Superintendent
Lattanner thinks that 1t would be
hard to realize on the notes due the
bank. The overdrafts when the bank
was closed amounted to $4,000. He
found notes on which no interest OF
principal had been paid for from Is to
II years. The records were also found
in bad shape. Superintendent Lattan.
ner does not wish the impression to
go out that the condition of the Free
port bank is characteristic of private
banks generally, because 1t Is not, as
there are many private banks In the
state which are absolutely sound. He
points out however, that under inspec.
tion the conditions found at the Free
port bank could not exist.
Domestic Servants Scarce.
Wanted--Domestic servants! This
Is still the appeal Of the state free en-
ployment agencies of Ohio. The su
perintendents of all the agencies de-
clare that although it is easy to find
willing workers for every other i'm
; aginable position, the domestic servant
job still goes begging. An army of SOC
young women could Immediately Sc
! cure positions in Ohio households to
day at salaries ranging from $4 to 81
weekly, with board, say the superin
tendents. Instead Of getting better
the domestic servant problem is get
, ting much worse say the people whC
are In the best position to know. Bacl
, of the whole problem seems to be thu
prejudice among women to take EN-
ployment In domestic work. And bach
OF this prejudice is declared to bt
chiefly the insistence on the part o.
, household matrons to treat their serv
ants as persons of a different caste
say the state Investigators. ''If do
mestic servants were treated like the
: girls in the Offices and factories there
{ would be no servant problem" the in
, vestigators say.
J Question UP to High Court.
= How corporations other than banks
building and loan associations, public
service corporations and railways
shall be valued for taxation, whethel
on their "going" value or their physi
cal value, is question which has beer
. put up to the supreme court to de
termine. 1t will mean millions of dol
: lars either off or ON the tax duplicate
whichever way the proposition is de
cided. The state tax commission som,
three years ago laid down the rul,
( that the valuation should be estab
: lished on the going" basis. TIL,
!, Cedar Point Resort Co. obtained per
I manent injunction preventing tn
: state from making its valuation in thi
t way. The state has appealed from tn
g decision to the highest court. Th
Y commission contends that ths Warne
Y law will be materially hurt If tn
s lower court holding Is not reversed.
i State Losing Coal Business.
Ohio is losing vast amount of Goa
business by the tying up of her mines
: Morning, noon and night vast trail
S loads of coal from the West Virgini
Y fields can be seen making their wa
through Columbus and othcr point
toward the lakes, where they are III
n loaded upon giant freighters to b
r distributed to a practically ftmitles
p market. Added to the loss to the Goa
!. operators is the loss sustained Sy tn
l. mine workers, Of whom approximatel
e $4,000 have been idle since early il
}. April. The aggregate loss is estimate
9 to be $5,000,000 a week, and on tn
s basis of such an estimate the tota
a loss thus far resulting from the sus
d pension of Ohio coal business has bee
nearly $4O,OOO,0OO.
Makes Largest Award.
=? The state industrial commission hR
J. announced the largest award it ha
}. yet rendered under the workmen'
e compensation act. The recipient
e Lee Worman, Columbus workman
r who recently lost both hands in a
@ accident at the Ralstoh Steel Ca
s works in this city. The commission
j will pay Worman a lump sum c
o 49, ,646 and in addition the sum of 5
s weekly during the rest of his life
/. The $S,646 represents So weekly TO
/ SO years, or the number of year
e which, according to insurance stats
tics, Worman will live. He is now q
Department Is Reorganlzed.
[. Complete reorganization of the stat
4 mining department has resulted in tn
:, placing of J. NJ Roam, who has bee
n mine expert, at the head of the depar
s ment and the reduction in rank Of ,
q Inn oh ie.R Ia