davidaulloa/AmericanStories huggingface dataset:
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-17

600 or $4,000, making total of $42,-
600 saved in interest if We issue the
bonds according to the above plan in
stead of issuing the full amount the
first year
"A bond issue, by provision of the
constitution must not exceed per cent
Of the assessed valuation of the county,
so the county which We suppose to is
sue this amount Of bonds must have
an assessed valuation of $20,OO0,000.
THE average annual interest on our
proposed bond issue is 37S,O00-20, or
$18,900. This means that a county
having an assessed valuation of $780,
100000 must levy a tax of 91a cents on
each hundred dollars of assessed val
uatiOn. The average equalized as
sessed valuation of the farm land
in Illinois is $2O19 per acre. This
means that the interest cost will be
less than 2 cents per acre per year.
Advantages of Bond Issues.
There are five good substantial ad-
vantages to be gained from improv-
ing the roads with funds realized from
bond issues: First, the community has
the use of considerable mileage OF
improved roads much sooner than they
would have under the system of build
ing each year only the amount pos
sible with their state-aid allotment, TO-
gether with the money put up by the
county Second, the cost of construc-
( ton is lowered considerably, as large
mileage can be constructed all at once
, much more economically and efficient
ly than by building short stretches
each year. Third, the maintenance
charge is faken off the county and
paid by the state on state-aid roads
if brick or concrete. and the mainte-
nance of gravel and macadam state
aid roads is divided equally between
state and county. Furthermore, the
maintenance charge per mile on a con-
nected system of improved roads will
be much less than if there are several
/ isolated sections to be kept up, and on
gravel and macadam roads. one-hali
| the maintenance of which is paid by
/ the county, such maintenance charge
/ if these roads are a part of a system
will be much less than If such sec
tons are separated from each other by
stretches of unimproved roads, which
means that the county which builds
the roads all at one time will have the
maintenance charge lessened consider
ably on those roads which must be
kept up by the state and county to-
gether. Fourth, financing road i'm
provement by bond issues places the
| cost of the improvement on those who
share the benefits. Fifth. system Of
good roads will increase materially
and substantially the value of sur.
rounding property much quicker thar
their value can be increased by spread
ing out the road improvement over g
neriod of 90 years. Il seems that the
advantages gained from such method
are worth UNNECESSARILY more than the
interest charge of 912 cents on thu
hundred dollars assessed valuation.
"Vermilion county has voted 81 800.
mn for ITS miles of road Cook county
has voted 100000 Thirty countie!
are either ready to vote upon bond is
sues or are seriously agitating It, thu
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-17
proposed aggregate being 500, ,OO0

proposed aggregate being $2O,0O0,00O.
Since the Tice law became effective
on July l, 1913, the general assembly
has appropriated a total of $3,lOO,00O.
The counties will have matched this
amount, making a total of $6,200,000
available for state-aid roads up to June
20, 1917.
Happily the fear that hard roads are
going to bankrupt us is fast disappear
ing, because We have been able to dem
onstrate by practical experience and
by undeniable statistics that such a
disaster is impossible.
THE Illinois system Of state-aid
roads comprises 10000 miles or about
II per cent of the total $4,000 miles
Of highway. Of these $4,000 about
5000 miles are improved. If we as
sumo that 5000 of these 5000 miles
of improved roads are included in the
10000 miles of state-aid system, we
have left 1900 of the system yet to
be constructed.
|
THE state highway commission esti-
mates the cost of this construction to
be $129,000,000. Spread over 20 years,
this sum will require $6,450,000 an
nually. Estimating the assessed value
Of the state for the next 90 years at an
average of $3,000.000,O0O per year, the
$6,450,000 annual requirement for
state-aid roads will cost the taxpayer
$215 per S100 of assessed valuation.
| A man owning $500 piece of prop
erty, assessed at third or $500, would
pay s1.07 per year.
! Under the state-aid system, it is esti-
mated that the farms will pay 40 per
cent of road improvement, the other
| 60 per cent coming from personal
property. cities, villages and corpora
| tons. The farms proportion of the
| $6,450,000 annual expenditure on state
aid roads would be s2,5S0,000. Divide
this by the acres in the state and we
have tax of OF per acre per year for
/ 20 years to improve these 1900 miles
Of state-aid road.
Our system provides for improving
only 20 per cent of the total road mile
age, but this 20 per cent carries SO
per cent of the traffic But our town
ships are now levying 100000 an
nually for roads and bridges and this
sum will be expended upon the so per
( cent of mileage outside the state-aid
system.
The system of state-aid roads, as
! laid out by the counties and finally APP
proved by the state. will connect the
cities and villages of each county and
the cities and villages of all other
/ counties. Study has shown us that
! from 65 to rs per cent of all farms
within a county will either front d.
rectly on state-aid road or on a road
only one mile distant and that very
few, if any, of the remaining farms viii
be more than three miles distant.
In the three years of operation un.
der the Tice law, splendid start ha.
been made. The perfecting of the or
ganization and machinery required
d. much time. Few enterprises OF suci
magnitude, involving the cooperation
and coordination of state, county an{
town organizations. having so much
OF detail to work out have gotten OIL
their feet SO quickly as has our state
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-17

the restrictions of communication and
! social intercourse which bad roads
! impose
The Tice Read Law.
The recommendation of the message
touched the legislative heart and the
1 Tice good roads law was the result.
You are all familiar with its salient
! features. No subject has been so
much discussed or is better under
stood. The last general assembly
remedied defects which a little expe-
rience had uncovered in the original,
J and amplified its terms to make it
more elastic to meet the varying con-
ditions and ideas prevailing in differ
! ent sections of our state.
I'VE are now at work under this law.
/ The courts have passed upon its valid
/ ity. Organization, state, county and
township, has been perfected and ex-
cellent progress has been made and
! the future is very bright.
THE most important new power
granted to counties by amendments to
! the Tice law is the right to issue bonds
/ for construction of State-aid roads,
these bonds to be redeemed annually
from the state allotments and the
county equivalence. The advantage of
/ this act is that the people get the bene-
fit Of a system of good roads at once,
rather than by piecemeal, and the diff
! ference in cost is the interest on the
bonds.
For instance; this county, let me
say, has 100 miles of designated state
aid road, the total cost of construction
which would be $1,000,OO0
Your annual allowance from the
state distributable fund is, We will
say, $4,000, to which you add, under
the provisions Of the law, a like
amount, giving you $4,000. At s10,-
600 a mile you could therefore build
four miles of road in year, or the
, full 100 miles in 25 years.
"The bond plan permits you, by ap-
proval Of the people, to issue $1,OO0,-
600 of bonds with which to construct
the 100 miles Of state-aid roads at
once. It's all done and finished in
one job and you will be able to enjoy
and get the benefit of the whole sys-
TEN. Each year thereafter you will
get your share of the state funds, or
$4,000 You add $4,000 to It and ap-
| ply $4,000 to the debt In % years
the entire issue will have been can
celled. During that time you will
have enjoyed and profited by the 100
miles of road
The difference in cost between the
two methods, as | have stated, is the
interest charge. which will be more
than counterbalanced by the returns
from the investment, such as better
prices for products and a more salts
factory social, religious and political
life.
ITO find out just what this interest
charge will be. suppose that county
decides to issue 100000 In bonds
for the purpose Of improving their
designated state-aid routes, and that
they propose to take three years time
to complete the work. Let us suppose
that the first year they will need $780,.
900 for the work. the second year $780,.
600 and the third year s350.000. The
county decides that 1t must extin'
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-17
Cosmetics and
Skin Protection
IL You Use Cosmetics, Apply POslam
As Safeguard.

Every woman who uses cosmetics
VIII wisely apply little Poslam, fire.
qaenty, to counteract the danger Of
III effects and TO perfectly safeguard
her skin. Cold creams alone will not
lQily suffice: the healing antiseptic in
hnence of Poslam is needed and will
amply repay in effect for the time and
trouble of applying. Use Poslam for
ali diseased conditions Of the skin, as
vel; eczema, pimples, rashes, redness.
ana II ordinary soaps irritate, try
Fosiam Soap. medicated with Poslam
ana superior for daily use on the skin.
for samples, send 4 cents stamps
70 Emergency Laboratories, 80 West
l~enty-ffth street. New York City.
cod by all druggists.-(Ady.)
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-17

-1,O 1000, 900 37S, 900 ,37S, 600
THE interest on the million dollar
bond issue for the period of 20 years
will be $378,000.
by issuing the bonds in three years
and in amounts just sufficient for the
work, there is secured saving in In
terest for the first year of per cent
of 100000 or $4,000. and for the sec
ond year saving of per cent of $780,
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-17
GOVERNOR DUNE ON GOOD ROADS

cEief
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-17

the restrictions of communication and
social intercourse which bad roads
impose
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-03-17

guish this debt in 20 years, or in other
words that the bonds must all be re-
tired 20 years from the date of the
first issue. Let US say that these
bonds, which will bear interest at four
per cent, will be issued as follows:
100000 first year;
$4,000 second year;
$4,000 third year;
and that $4,000 worth of these shall
be retired each year
From the following table you can
tell just how much money will have
to be raised each year to take care Of
the maturing bonds and the interest.
The Birmingham age-herald., 1916-12-09
SENSATIONAL DROP
 OF COTTON PRICES
Huge Volume of Selling Causes Break and Market
 Closed at Big Loss

New Orleans, December S.-A huge vol- ume of selling broke the price of cotton more than 1 cent a pound on this market today. causing the most notable reaction from the long advances yet experienced. Tho larger output than expected by the gins of the belt and the rumor that Greece had declared war on England were influenced that caused the selling. At tho middle of the session brokers were handling an immense amount Of business and tho market was breaking t9 a most sensational way.
 In the early trading prices lost about g a bale, holders of long contracts being disappointed at the way ginning kept up. The report issued by the census bureau indicated that 7420O0 bales were ginned this last period as against expectations ranging from 650O00 to eS000o. Much long cotton was thrown overheard and offer~ ings were swelled by short sellers. A short period of steadiness followed the initial break and the market recovered from the decline of 21 to 27 points, but this upturn only seemed to attract more selling than ever and the market was soon on the down grade again. The cli- max of the decline came around the mid dle of the day when the trading months were 103 to 113 points under yesterdays close. In the afternoon the tone was steadier on profit taking by short sellers of the morning, and there was a recovery Of about 30 points. Last prices for the day were at net loss of 76 to 92 points.
The Birmingham age-herald., 1916-12-09
WEAK CABLES START SELLING MOVEMENT
Market DemOralized on Un- covering of Stop Orders
 and Decline Follows

New York, December S.-There was a break of over 1 cent a. pound In the cot ton market today with May contracts selling at 1e.S4c, or 1o2 points under last nights closing price, and 221 points be- low the high record reached late last month. That delivery closed at 19.46c and the general list closed unsettled at net loss of g to 9S points.
 The excited general selling movement seemed to be started by a combination of weak Liverpool cables and rather larger ginning figures than expected. The opening was weak at g. decline of % to fl points and active months sold 35 to 42 points net lower right after the call. A quick rally of 15 or IS points on Liver pool buying and support from trade sources met even heavier offerings from Wall street, western local and southern sources. The selling for western account was particularly active and was supposed to represent liquidation by people who had bought earlier in the week on mini mum views on ginning returns and crop figures Stop orders were uncovered at the decline grew more rapid, and for a iliHe lHo I1dThoJ dpPceIcu lO po PiaSL- cally demoraIized, with January selling at 1S.90c and March at 191Oc or 100 to 106 points below last nights closing figures and over $6 per bale below the high level of yesterday afternoon. The excitement then subsided somewhat and rallies of approximately g per bale occurred during the afternoon, but liquidation remained in evidence and improvements were barely maintained, with the tone still extremely nervous in the late trading.
 Private reports published earlier in the week had indicated a ginning of 10,3O0,- 600 bales to December l, and the official report of 10359, ,346 bales did not seem very far out of line with these figures The suggested ginning or the last half of No venber did not show as much falling off compared with returns for the same time
 in 1909, as the previous two periods, how ever, and it seemed from the talk around the ring that the returns had caused some modification of small crop views: No change was reported in the news from the south, and many attributed good deal of the selling to nervousness over general trade and political conditions
The Birmingham age-herald., 1916-12-09
FOREIGN RELATIONS
 SEND WHEAT DOWN
StOppage of Export Sales and Embargo Situation
 Responsible for Decline

Chicago, December s.-Increased activ- ity of German submarines and rapidly
 growing list of differences between Wash ington and Berlin as to the status of some of the vessels which have been sunk did a good deal today to force wheat prices down. The market closed ner- vous, 5sc to 41ac net lower. with May at
 s1. .745s@1 .747s and July at s1.471kd1. 47st Other leading commodities, too, all showed losses. Corn lost 15sGf23sc, oats | 11Sd19sc and provisions 1oc to 20c.
 Right from the outset the chance of a
 break in diplomatic relations between
 Germany and the United States created a bearish influence, which was empha- sized by depression growing out of the stoppage of apparent export sales, and by the worsening of railway embargoes
 east of Chicago. Later, the bulls sue ceeded in rallying the market for a brief time because Baltimore was said to be bidding for wheat to be shipped from St. Louis in the first half of January. The effect on prices, however, was soon more government buying had in some cases hnliClpdLeu requirements as Tar ahead as next March. Fears were also ex- pressed that owing to the announced Anglo French blockade, wheat purchases of late in the United States for Greece could not be shipped.
 News of the sinking of the Caledonia and of numerous other steamers brought about especially heavy selling of wheat in the last 30 minutes of trading. In this connection, notice was taken of the fact that aside from serious difficulties about the case of the steamship Arabia in particular the Washington authorities were also showing grave concern as to the facts regarding the steamship Marina involving the loss of six American lives. Predictions of forthcoming enlarge ment of the stock of corn here weakened the corn market. It was said no lake vessels would be loaded after December 15, and that the car supply in the west would then probably be much improved. Oats fell in value with other cereals. Demand was only of a scattered sort. Big receipts of hogs carried down pro- l visions. Besides there were reports that sales of meats to the south could only I be effected at a discount.
 Future quotations were q fo1Iows.
The Birmingham age-herald., 1916-12-09
Produce Market

New York, December S.-Butter unset tied; receipts, 5S40; creamery higher than extras, specials S71sGSSc; creamery ex- tras, 92 score BIC; firsts, 351a@36lac Eggs unsettled; receipts. 4310; fresh gathered extra firsts, 46a47c; firsts, 411aa45c; re- frigerator special marks, fancy, 311ac; re- frigerator seconds to firsts. 201k@31c. Cheese steady; receipts. 1897; state held specials, 24a4@25c; state held specials, average fancy, 24G241ac Live poultry firm; chickens 17a171sc; fowls, 16@19c; no turkeys quoted. Dressed dull; chickens, 16@29c; fowls, 13a2lc; turkeys, 1s@Bc.
 Chicago, December S.-Butter lower; re- ceipts, 2S40 tubs; creamery, 30@371ac. Eggs: Receipts. 2274 cases; unchanged. Potatoes: Receipts, 27 cars; unchanged. Poultry, alive. higher; fowls, 16c; springs, 17c
 Kansas City, December 8.-Butter: Creamery 42c; firsts, S9c; seconds, BIC; packing. 2Sc. Eggs: Firsts, 33c. Poultry: Hens, 15c; roosters, 12c; live turkeys, 2lc
 St. Louis, December S.--Poultry un- changed, except 121z@l31Ac springs, 1414c; turkeys, 141a221kc; ducks, 131sc; geese 11c. Butter and eggs unchanged.
The Birmingham age-herald., 1916-12-09
Ayery's Letter

Today was typical Black Friday" in the cotton market The census ginning report, issued on the opening, showing l0,S5s,46s bales ginned up to December |. was larger than expected and had a ten dency to shake the confidence of those bullishly inclined. Our markets opened some 20 to 90 points lower and with the exception of a 15 to 20-point rally during the morning, there was no show of strength during the entire session. Around noon there was a rumor of the Anchor Line steamer Caledonia having been torpedoe started a selling wave which soon became almost a panic, longs. Ike so many sheep. rushing on the heels of the leader to cover. Bears were quick to take advantage of the confusion. and prices were hammered down to a level of 'o0 points under yesterdays close.
 During the last hour there was some profit taking by shorts. which caused a rally of about 10 to % points. which was a very poor reaction after such an enor- nous break
 The technical position of the market has been greatly improved and a sub- stantial advance is to be expected, but l would advise taking profits on long cotton on these bulges and prefer a scalping po- sition on either side of the market Ulti- mately I expect values to work lower until the time arrives when the immense amount of cotton held on speculation by middlemen has gone into the hands of the consumers. C. r. AVERY.
The Birmingham age-herald., 1916-12-09
sider very cheap, purchases if well pro- tected should show good profits shortly
Hubbard Bros. & Co.'S Letter

New York, December S.-The decline in Liverpool was due to stop loss selling and on account of unrenitted margins from the continent. Here we found the market willing to absorb the selling on the gin- ner's report but not equal to taking the selling from both these sources, so the decline at first arrested by the local ran into many stop orders, breaking nearly a cent a pound, closing barely steady and 10 points reaction. The outside traders are disappointed at the ginners report of 10,359,0o0 which exceeded their expecta- tions. as they feel the bureau report tased on these ginning figures can hardly be as low as they had expected 1t would be. Undoubtedly the ginning represents to some extent the improvement in the crop due to the good weather since Sep- tember.
The Birmingham age-herald., 1916-12-09
Sugar Market

New York, December S.-There were no sales reported in the local market for raw sugar today. although it was rumored that Europe was again purchasing new crops in Cubas at 550c f. o. b. The mar ket, however, while quotably unchanged in the absence of business, was firmer in tone and holders who were asking Axe for Cubas for February and March ship ment on Thursday were now asking slightly higher prices. Closing prices were 11-16c for Cubas, cost and freight, equal to 5.69c for centrifugal.
 Trading was again of a hand o-mouth character and prices were unchanged at 7.20c for fine
 The unconfirmed rumors of further ex- port business in raws led to quite an &C., tive buying movement in sugar futures and closing prices were 5 to g points net higher At the start prices were a trifle lower, but there was good demand from trade interests, and as offerings were limited, prices advanced closing at practically the best point of the day Sales were 9350 tons. December sold from 4.64c to 4.73c, closing 4.73c; January, 425c to 4,33c, closing 4.33c; March, S.96c to 397c, closing 4.0Sc May, 4O2c to 405c closing 4.0Sc; July, 4.l0c, closing Also.
The Birmingham age-herald., 1916-12-09
Chas. Fairchilds & Co.'s Letter

New York. December S.-(Special,) ,)-The bulls who bought on the decline late yesterday made an effort to support prices early today, but encountered such a tremendous volume of liquidation that all support was abandoned and prices broke very rapidly Ten dollars per bale margins calls were responsible for a con- siderable part of the liquidation, but de- sire on part of some of the recent big buyers to reduce their lines doubtless ac- celerated the decline. Stop loss orders were caught in large volume and at one time the market had a demoralized ap- pearance. The rallies were feeble, re- flecting doubt as to the permanence of any recovery. We believe the situation Justifies higher prices and think sub stantial rally is likely to occur between now and the issuance of the government estimate at p. m. Monday, New York time, but think purchases should be pro tected with margin of s10 per bale over the report. Cotton oil suffered with cot ton. It has reached a level that we con
The Birmingham age-herald., 1916-12-09
More Cold From Canada

New York. December 8.-Additional gold from Canada. amounting to $11. 300. 900, was deposited at the assay office Thursday This makes a total of more than s35, ,ooo, ,0oC from that source during the last three days Imports of gold continue slightly offset by exports of the metal to South America, $9o0,000 being shipped today Lo Buenos Aires, with an additional $7O0 GOO later in the week and $1,3O0.000 Decem- Der 15. This makes total of $7,3O0,O0O to Argentina on the current movement, and about s15,0o0,000 to that and other South American countries in the past two months.
The Birmingham age-herald., 1916-12-09
New York Futures
Port Cotton Market

New Orleans: Middling, 19.63c; receipts, 4277; exports. 1S.Hs; sales, 9l2; stock, 445,- 69O.
 Galveston: Middling, 19.50c; receipts, 1S,- oS1; exports, $500; sales, 1105; stock, 4So- 21S.
 Mobile: Middling, 1s.25c; receipts, S7o; sales, 20 stock, 21,132.
 Savannah: Middling. 20c; receipts, 6SS5; exports, 800; stock, 219,561.
 Charleston: Middlng, 191sc; receipts, 1136; stock, S0,620.
 Wilmington: Middling, 191sc; receipts, 233; stock. 46.S98.
 Norfolk: Middling, 19.1Sc; receipts, 36sS; sales, 530; stock, 101,51S.
 Baltimore: Receipts, 261; stock, S505. Boston: Middling, 20.o5c; receipts, 34S; exports, 1889: stock, S274.
 Fhiladelphia: Middling, 1s.4oc; receipts 16l; stock, 1904.
 New York: Middling, 19.15c; receipts, 193 exports, 3134; stock. 142,510.
 Minor ports: Receipts, S4o; stock, G, 694.
 Total today: Receipts. 35,sS1; exports. % 491; stock, 1,569,219.
 Total for week: Receipts. 25s,976; ex- ports, 134,S15.
 Total for eason: Receipts. 4,327,412; ex- ports, 2,615, 470.