davidaulloa/AmericanStories huggingface dataset:
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
Local Rainfall.

RR at,t las! WE'VE hours. Non,
HaGn;iaS s t"chty,four hours. %!
Dehciency in rainfall since March
,do,; ,;;ii;;; ............. 26t
a cGumuiated excess in rainfall
since January l...... O.s,
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
MUNICIPAL IMPROVEMENTS.

The Administrative Board vesterd,v
authirized the following improve.
ment:
Superinten dent of the Street clean
ing Department was instructed to
shape up mud top-dress with granite
chips the sidewalk on\ Eighth Street
between Maury and Lee Streets. South
Richmond.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
MARRIAGE LICENSES.

Marriage licenses were isucl nv
dlv as follows:
William Y. Smith and Lille Rogers
Frederick w. Walker and Bessie ism
bell Kerns
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
To-Day and Tonight
in Richmond

Park Conccrt-Kessnich's Munich
pal Bind. Rivcrkidc Park. y o'clock.
Board of Aldermen, City Hall.
o'clock.
Lyric-Populnr vaudeville; mnti-
nee, $3.50, night, 7if5 aud H;i5.
Littlc-Puramount pictures; con-
tfnuous performance, IL noon to II.
Standardization pictures, contiu-
uoua performance, IL morning To II
night.
NfrEinia-MOtion pictures, contin-
nous performance.
SupcriOr-MotIou pIctures, cOnttn-
uOus performance.
IslE-Motfon pictures; continuous
performance, II morning 20 IL night.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
HUsTINGs TRANSFERS.

Two Deeds OF DnrGnin and sale
Amounting to 1850.
william Ross ct ais. TO Otis II. Ross.
62xloo feet south line Old DominJon
Street. 60 feet east of Holly Street.
June 80. 1915. tax 81. IS.
Harry. l.. Schultz ct ux to Bernard
l.. Baird. 62NliS feet at the southeast
corner Of SprinRhill and Twenty-sixth
Streets. July %. 1915. $1,000
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10

~ all Indications. Broad Street Park
the Climbers home on TUESDAY.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
HusTINGs DEED OF TRUST.

One Deed OF Trust. Amounting to
S2,85O.
Harry L. Walker ct uX. TO w u
Pulliam. trustee. o9x1eo feet south line
Boston Avenue, % feet west Of Tween
tieth Street; also lots /. s and in
block 1921 in the plan of Richmond
and Manchester Land Company. August
3, 1915 S2,650.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10

$4,000 bushels Of oats. Vessel room
was chartered, for 10000 bushels OF
corn.
The feature in the provision market
was the strength in ribs. with packers
the leading buyers. Houses with for
cign connections led in the selling.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
MINIATURE ALMAyAC

CLOCK G. section s. plan of Highland
Willie B. Asher 70 F.. Sitterdinr ..
ais, trustees lots Is to IS INCLUSIVE
6iock d, section ., plan of Highlanj
springs. August s. 1915, s732
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
Di,orderly Conduct Charged.

Joseph Hall was arrested by Police
man Kuhn, last night. on warrant
charging him with trespassing and be-
ing disorderly on the premises Of Mrs.
l.. w. Greenstreet. The man will be
given an opportunity to explain before
Justice Crutchneld to-day
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10

Talk about fielding, those Climbers
we're there. Twenty-Five assists in
making twenty-sevcn outs is going
Iorna, sixteen or the outs were to Tim
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
cHANcERY RELEASE DEEDS.
Ahree Heicnse Deeds, Amounting I
SIS13

SI,STi.
w. Z. Blanton. trustee, to p. D. Over
ION et IN. 2oxlS0 feet north line Frank
I'm street, 800 feet east of Lafayette
street. July II. 1915. S7SS.
w. f.; Crawford ct al trustees. TO
EmmettB. Fowlkes. 44Xl32 feet at tho
n0rtheast corner OF Seventeenth and
christian Streets August s, 1915. s53I
A. j: Chewing ct al, trustees. 10
john l.. Mines. olXl36 feet inches
June II, 1915. $3.50
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10

Ola Bad Luck is still lowering over
punn, Kid Fewster was hurt Sliding
70 Ihe plate with the winning run
inning. '"e iaet
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10


sam Crane, who was writing sporting
news when Honus Wagner Vas hare.
FOOTED on the sand lots, devotes NOR.
tpsryo half a column in telling OF the
tho Polo Grounds recently, The vi !
ie onr Tr,ter a. tho beginning Of his
p p many sensational catches on the
10 Srouhda in the twenty-five years
Dasebail history had been made on its
Sreen turf field do not think. though
that any past records will show thof
u he marvellous grab made by DAYS
, monertson IN the fourth inning of Sat
uroaE second game has ever been an
prGaehed as SPECTACULAR exhibition Of
performed by a player OF Rober,s Dren
p nnrnb1ts speed and loose jointed,
acropatic makeup, combined wiz
!outhtul energy and ambition 70 10
something remarkable 10
this Eh ssd Dodgers are doing no better on
the hrst; Then they dropped from u t on
Robin nlH1ssor iss clear TO- the cellar Had
s sPntd i, showed nj home Brooki iHe
S dniHu,n nav, been in front of Phiia.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
BUILDING PERMITS.

Five building and Rcpnir Permits.
Amounting to S2O75.
Permits .or me.v and repair u,orx
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10

Honey Boy Hotchkiss has undertaken
10 turn the trick, and from renorts re-
ceiVed yesterday, he will succeed.
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10

ODonnell. by the way. must be some
oearcat seven outs and two assists
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
VIRGINIA LEAGUE

Continued from Eighth Pagc.)
WEBB, In Ia innings Double riave-
hopkins TO AXE: Pom 10 Gouihy TO Henry
Time. !:tl. Umpire. Vi;teT
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
Local Observation Mt S r. VI. Y..tcrdn,

Temperature. 80; humidity, 20: wind.
direction. southwest: wind. velocity &
miles; weather, partly cloudy
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
The Weather
LoenI Temperature Yc.tcrdny.

II noon temperature. 81
r. NJ temperature sc
-: VI; temperature .............. 10
NtT; ,IiuIh temperature to T.. NJ. 81
Slhlmum temperature TO S Z. NJ 10
Mean temperature - Is
Sosf.iiaL temperature ELECTROMAGNETIC. 10
benciency in temperature yestcr-
'-''. l
Denciehcy ia temperature since
March ia;....., ....... 2s9
accumulated deficiency in temper
AZURE since January 40
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10

Shag Thompson was the hero OF tho
hour yesterday. getting two safe blows
In TWO tries. O'Donnell got the other
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10

On Sunday Richmond made ten hits
ana ana no runs. Yesterday It was three
Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-08-10
1T STRIKES ME
By Tim Patch

No game Is lost. apparently. until the
last man Is out in the ninth Tho
Climbers think SO. 1t seems
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
POLICE DEPARTMENT.

Penslonsd.-Ptlmn J. w Weiss 6lst. on own
application. at 500 year. appointed May H.
lSAS.
Temporary Asslsnments-IAcut c Il wsshburn.
l4Sth 10 18th / d. days. IN. AUG. ! Ptlmn.
Joseph Brady Cd. to c. o.. as chauffeur IA days.
a H. Aug . William Kelly 22d. 10 c. o. as
chauffeur ; II. Aug. q during absence OF ptlihh;
on sick report Joseph Scott 2Sd. 70 ltsth. x
days p m. July 81 J. NJ Culloy: 42d, and l. ~ H.
Grace. NJ D.. 10 c. O.. duty In Office % Chief In .
days. 5 a m. Aus ? James Maloney. 6lst. 70
Diet Bu. days. noon. July 30. W + Nit
wan. 18th. % c. O.. duty IN special Squsd $.
80 days. : m. Aug. !: J. T. Thier. lo1tn. 10
Det Bq days P,I n s Aug a tIAn'is h'h me-
Aus 9. Jane, Byrne T. D.. to Training stable
10 day. s. . m. Aus 2 ~.
Leave, o. absence without pay)-Ptmn. Frank
lin Tsa .-j Pct. day. ?. m, AUG o fieu-
erict j..u....,r S3d Pct. days. l2.Ol a m aug
:: Will.. Mccormick. 4Sd Pct. ! day. p m
Aug / r ". Lennon. l63d Pct. ! day. d m
Sick oayes-serg,. J. T. weckuser l4th Pet, 80
DAYS A m Aug J Act Det Sergt II. { Jes-
sup ps.ec Bur, "A days. a n. Aus. II. Ptlmn
] J. Dorsey 22d Pct. 80 days a m AUG =
william delaney 18Th Pet. 10 days a m
Applications for full pay (approved) -Ptlnn W;
J. FITZGERALD. 22d Pct. 40 ,. N. June l. 10 II
D m June o. while under suspension. While on
sick report F. Shea. 3lst Pct from noon, June
II. 70 y ?. N. June 30: A. p. W Schu6cr. "a "a
II. J Lusson 3sth Pct. s. a m. July %. 70
- y m july IS; p VI King. 3sth Pct. i 80
D 70 June H. 70 Il ?. m. June 80; LOUIS Can
dert sd Pct 40 a m. April u. 10 noon,
Man 70: Henry p RADIO 66th Pct, $40 ?. N. July
Is. during disability J. T. Cunningham. 1rsf DIV
e ass y m july 2S during disability.
Suspendci-Ptmn. Michael Germ. l49h Fct'
II 70 N. July 81
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
PUBLIC NOTICES

INVITATION TO CONTRACTORS
FOR THE SUPPLY OF SPECIAL Work, OEpER
No. 4, FOR Use IN THE CONSTRUCTION OF RAPID
TRANSIT RAILROADS.
Sealed bids or proposals FOR the SUNNY
OF thirteen Portions OF Special Work Frogs
and Sw!tches) for use in the construction
OF rapid transit railroads will be received
by the Public Service Commission for the
/ First District at the ofiicc Of said Commits
sion at No. l54 Nassau Street Borough Of
Manhattan. New York City, until the 18th
day OF August, 1918. at twelve fifteen
NZ:l5) o'clock p. NJ. at which time and
place or at later date 10 be nxed by
said Commission. the proposals will be pub
lcly opened
The Special Work is to be delivered in
installments The contractor must be pre-
pared TO deliver at least one portion Of the
Special Work on the expiration OF two
months after the delivery OF the contract
and must be prepared TO deliver three
more portions during the third month four
more portions during the fourth month and
the remaining i've portions during tho NTH
month. and must complete deliveries with
In 1--WE months after the delivery Of tho
contract except as otherwise provided in
the form OF contract
A fuller description Of the Special Work
and other requirements. provisions and
specifications are given IN the Information
for Contractors and In the form Of contract
specifications. contract drawings bond and
Contractors Proposal, which are TO be
deemed part Of this Invitation and copies
Of which may be inspected and purchased
al said ONCE Of said Commission.
The receipt Of bids Will Doe subject 20 the
requirements specified IN said Information
for Contractors
New York. July p. 1915
PUBLIC SERVICE COMMISSION FOR
THE FIRST DISTRICT
BY EDWARD L MCCALL. Chairman
TRAVIS IL WHITNEY. Secretary
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
LEHICH VALLEY
SURPLUS SMALLER
Operating Revenues GAIN
Other Income Sources
Not SO Productive.

The Lehigh Valley Railroad earned a
net income of S6,322.445 for the fiscal
year ended June 80 last, which, allow
ing for the dividends paid on the small
preferred stock issue, was equal TO
1915 per cent on the $6O,50l 700 COM
mon stock outstanding. In 1914 the
company earned 11.65 per cent, and the
preyious year 14.46 per cent on this
issue.
The annual report shows operating
revenues of S42,526,962, an increase oil
s355.3l5. A decrease in operating eX-
penses Of s14O,5OO left net operating
revenues of $12,57s,574, gain OF $780,
$40. This increase, however, was more
than Offset by loss of Sl,O74'4'o IN
other income. In this connection the
renort calls attention TO the DIVIDEND
If $685. .OsO OIL Temple Iron company
stock owned by the Lehigh valley IN
1914 bv order of the Interstate Com
,,,srce Commission. The fact that TINS
d;v;dend was not declared last year &C,
counted for more than hall the Vo'ai
decrease in other income. -.
After paving four quarterly divl-
bends of 2la per cent each on the com
mon and preferred stocks, amounting
70 $4,000 500, and making other ADJUST
ments totalling $1,049 .25O,' there was a
debit carried to profit and loss account
Of s7s7 sos. The years surplus al'er
payment of dividends was Sol 'o4o.
To reimburse the company's treasury
for exnenditures in connection win
the new freight and passenger ter
minals at Buffalo. the report says II Is
nroposed at a later date to make
snecifc issue of bonds. Capital CD
legations. consisting of collateral trusV
bonds and equipment trusts 70 tne
smonnt of s2,S00,0O0 were retired dur
inc the wear. In the last ten years
Lebigh Valleys operating revenues
have increased 29.69 per cent, whiie
taxes have increased lb4.2l per cent
The annual report of the Lehigh Val
Low Coal Company shows total net IN
come of 81 .O22.614. an increase OF S4o'',
955, The production of anthracite coal
from the mines was S,O88,9Ol gross
tons an increase of 2l1,5ll tons. In
the bituminous mines 25s,2O5 gross
tons were mined. an increase of 5,4'4
IONS. The sum of s517,542 was eX-
pended for additions and bettermen'S
during the year.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
NOTICE OF SALE.

the purchase price IN The manner and rit5,. -
period herein limited. SHAH he entitled n :. ~
delivery Of The certificates ior the shares a ~
which he shall have ~ purchased ana :, -
propriate instrument q Assignment thsreI y
In case any successful bidder shan fan -.
and fully % perform any y the otllgatlor, r,oyy
IN this notice 20 be performed by him. he -. -
posted ~ such bidder. whether paid IN - =
represented b. check. shall forthwith b. - ~
CONS absolutely the property u Tie Farrsr,. -.
and Trust COMPANY. a. Trustee under BIZ. -.
Decd of Trust. not a. a penalty 'r1possd up.s ~, 80
bidder. but a. llqu.daied damages NTerod b. -
Trustee IL being expressly agreed By es,l ~ -. -
bidder that On such event the damages srr.,., ~
such Trustee 8Ou.d be- substantial 1Yt irc,B,s. y
measurement.
The purchaser or purchasers shall be e-,lr.. A.
turn in. use and apply 70 making me psyus,t !,
the purchase money b. or from t.m no them 90,
upon such sale any o. TIE First M1ruge al a.
lateral Trust sinking Fund five per cert o.
Bonds. with me coupons thereto slpe-af.-,z J.
Tie California Idaho COMPANY isgsI M, =
said mortgage n Ito FWuefs' Lozn al -
Company and James .. O'Neii. 81 TrHsss 80,
date October 1. 1910 reckoning su.H bl~A, -
coupons FOR such pufloees AZ sgn sq.s. }, -,
which shall be payable gIt n ne rst Dr.osss, !,
such sale 20 the holder 4r holders " r.rt 80
and coupons Tor hi o- Their jus, shape lr HAT 80,
ar,cr ~ such net .r1oce,ls NJ sale under al. -
t0rtiormcut u AID accounting r..rrrr.rz s..-h =.
proceeds after provision shall have Teen ~ =,
the payment 10 cash q Do r4ps.ses 70 ss-h a.
and ito reasonable compensatl.u " me Trlsfss
The right Is rescrgei 20 resell. ne PROPERTY 70
any portlon thereof A. ~ which 4-filt u -.
therefor shan be made upon such rl'lre a. ~ III,
designed may determine slreef 0r si,hos,
notice IN the event that az plrr ss.r shall ,ar .
omit promptly and fully % perfNm iIy u he ~
legations iu this notice. cr lH roo aEr-ens1t 20 I,
he signed by him As Aforesaid -y hm nq4r,s )
h performed.
The Undersigned reserves me rga' o sd'olra ma
sale either A. 20 all said p- ls-'. rr A. . A.,
parcel or parcels thereof sieC.asf '..s a1ios 81
70 sell upon such adjourned llf. lsr. slca nst,,
as u may IN ~ discretion deem v~-.ert
Tho said sale ni BIZ made subject % I'll "a.
terms and conditions contained il rl 1.'i,s
Dated July 2ith 1913
THE FARMERS LOAN And TRUST cONPASY
a. Trustee under Decd ~ r-.Hf " Amsrss,
Water Works n Guarantee C1ups1y trss
October /. 1910.
~ 7. s NARsrON
P--sHsnt
GEILER. ROLsTON 4 HORAN. Ar0rlsJs ior az
Trustee. % Exchange PIac. N-a York
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
u. S. INEFFICIENT,
SCIENTIST INSISTS
DR.. Campbell Says Entry Into
World Affairs Will Reveal
Weakness.

San Francisco, Aug. 2.-Costly weak
nesses will be revealed when the United
States enters world affairs, said DR..
w. W. Campbell, director of Lick OBJ
servatory, to-day in an address on
Science and Civilization" before the
American Association for the Advance
ment of Science, of which he is presi-
dent. He predicted that our entry
into world affairs could not long be
avoided.
THE human race" he said, needs
above everything else the conviction
that the principles of science rule
everywhere, and that the problems Of
personal and national life are not
solved so long as any important forces
are ignored. The need is especially
great in our own country, where the
isolation from other countries and the
existence of immense natural resources
have let us seem to have kept up with
international progress in spite of our
wasteful and inefficient methods
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
FEDERAL RESERVE
TO MOVE CROPS
Board Acts TO FOreStall
Recurrence of Financial
Stringency.
KING COTTON GETS
SPECIAL ATTENTION
Hope TO End Sudden and Violent
Fluctuations That Invite
Spectator.

Washington. Aug preliminary
plans designed 70 make available the
resources of the Federal Reserve sys-
TEN in the annual fall movement OF
crops have been worked out by the
Federal Reserve BOARD and sent out to-
day TO the twelvs regional banks Of the
system
The boards action was taken, the
letter says, TO fore tail any possibility
Of congestion o. crops this fall or lack
o. financial accommodation TO move
them and TO avoid o recurrence Of the
stringency which in the past has
marked this movement
"In view Of the large surplus re-
serves now held by the Federal Re
serve banks. by member banks and by
other banks throughout the country
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
FIRE DEPARTME NT.

Flned.-Fireman Henry Engehausen. Hose !
charge. being under the influence OF an intoIich-
lar leaves Of absence be withheld
Dismissed. - Fireman Louis Zeiger Eng l5e
found guilty Of the charge being under the inhu.
ence Of intoxicating beverage. drug or compound
AZ 4 IN. Aug J.
Revocation OF Detail IS a m, Aus. D.-FiFeman
oscar A Muller Eng 2s5. 20 Bureau o. Fire
Alarm Telegraph.
Change OF Detail q a m. Aug y Fireman
Charles " Wcickmann. Eng. 43. 70 the Bureau Of
Fire Prevention. 70 the Bureau Of Fire Alarm Iee
graph. Borough ~ Brooklyn.
Leaves Of Absence without psy).-Firemsn t. /
Kelly II & l. 1925. - hours a. NJ. Aug.
Fireman " Clausen. Eng. ~. Sc hours. a m,
Aug 3 Capt. r. Nitsch. Ems g. - hours. a m.
i5S y hours 3 m. Aug Lieut.. i. Purcell
u & /. 80. u hours. a m. Aug. Lieut. J; J.
man NJ NJ MorTossey. Eng. az. q hours a m
Aug. 4.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03
SUMMONS.

SUPREME COURT. KI>Js COUNTY
John Y Cain. Plalntn. against Bridge,
Foley individually and aa admin stratrir
Il the goods. chstto'7 tri credits when
we're Of Cornelius Foley creased. WIZ.
lam Foley and MARY Foley DTS vfs "a,
name Mar" being f.t.r0.s. real irst
name Of this defendant being unknown %
plaintin), Defendants IS Gr r.. gs To n.
above named defendant. You are hereby
summoned 20 answer The .'up.aint n
this action and 20 serve copy Of your
answer on the plaintiff attorney within
twenty days after the service ~ this sun.
mons. exclusive ot the day & service. ana
in case OF your failure 20 appear or an.
swer judgment will be taken against you
By default for the relief demanded in tbs
Dated. Brooklyn. y. =. Jane 3lth. 1915
EDWARD j FLANAGAN.
Attorney FOR Plaintiff CHca and Post
once Address. - Court street, Brook.
lyn. New York
70 the defendants. william Foley and
"Nary" Foley. The foreg0lrs luminous q
served upon you by pun s1r. pursuant
10 an order Of Hon j Van --.en. a JUS
rice q the Supreme Court q The state q
New York. dated the i3 b. day 4 July
1915. and filed with the comp ~ In ne
once OF the Clerk Of the County n Kings
at'the Hail OF Records u N Borough q
Brooklyn. county O: King state q New
york, on the nth day NJ J.... 1915.
EDWARD ! FLANAGAN.
Attorney FOR Plaintiff. Cft.s and Post
once Address. - Court street, Brook
Ion y
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1915-08-03

says the boards letter, there should
be no difficulty in afording the pro-
ducers the assistance necessary 10 en-
able them to market their products in
volume corresponding to the power of
the trade to absorb them. In order
10 accomplish this END, it is suggested
that Federal Reserve banks adopt q
definite policy with reference to redis-
counting paper secured by documents
in satisfactory form evidencing the
ownership of stored agricultural prod
ucts. Through such policy, together
with proper methods of warehousng,
Federal Reserve banks can be potent
factor in assisting the normal move
ment of staple agricultural products
from the field 10 the factory or TO the
consumer II is recommended that
regulations governing the rediscount
of notes covering advances on such
products be issued by such Of these
Federal Reserve banks whose members
are actively engaged in financing the
movement of such crops TO the market
The board calls special attention to
the marketing Of the cotton crop be-
cause IL is clearly TO the common in
terest that credits based upon this crop
be protected as far as possible from
the danger Of decentralization" Ii shows
that no staple commodity is subject to
greater variations in prices than cot
ton and quotes figures showing an
average annual fuctuation on the New
York Cotton Exchange Of 53S cents
per pound.
Aims TO Check Speculation.
Sudden and violent fluctuations"
il continues, ARE clearly TO the ad-
vantage of neither the loaning banks,
the producer, the manufacturer, nor the
consumer They offer, on the contrary,
an inviting field for the speculator, and
should the Federal Reserve system, in
making possible the more normal move
ment of the crop, be a contributing fac
tor in reducing these fluctuations. it
would have accomplished a great pub
lie good
Federal Reserve banks" says the
letter, should particularly point out
to their members that they are pre-
pared TO rediscount the notes of farm
ers and merchants secured by proper
Member banks, the letter says, which
warehouse receipts for cotton and &C
companied by evidence of insurance.
Oner these notes 10 federdI hesefNe
banks for rediscount should be ready
to state the grade and market value Of
the cotton and the notes should be in
the customary collateral form, pro-
viding the right to call for additional
security in event of material decline
in market value The amount TO be
advanced should be left primarily to
the judgment of the member bank.
Similar means may be taken to aid
in financing other agricultural prod
ucts, the letter says, wherever there
is available a system of warehouses,
elevators or other approved means of
storing and certifying.