The Goldfield news and weekly tribune. [volume] (Goldfield, Nev.) 1911-1947, 1917-11-10
BUSINESS GOOD
THROUGH WEST
RANK REPORT SHOWS INDUS
TRY HALTED BY LABOR
TROUBLES

the center of the stage during Oc-
tober. subscriptions to the first
Liberty Loan closed June 10 and
the last payments were made August
IL. Consequently the pressure up
OH banks because of Withdrawals
and borrowings o~ccasioned by the
first oar would appear within this
period. Some timid banks feared
great reduction of
The loans, however, of the ma
ti0nal banks in the eight reserve
cities o. this district, show an in
crease of only sl-7 SOC, 600 from
June 20, 1917. to September II,
1917. while deposits increased 1872
5000. During the year, Sept.
u, 1916-Sept. II, 1917, deposits in
the same banks increased $4,000
GEO, ranging from an increase of
III per cent in Los Angeles to PAP
per cent in Seattle. While complete
reports of state banks are not avail
able, those published indicate a
similar trend.
The entire reserves of all national
banks are now modified in the
Federal Reserve Bank, but only
turee state banks of Washington,
one of Oregon, and one of Idaho
have become members. The presi-
dent of the United States in his
proclamation of Oct. Is, calls for
chile attention to the vital import
ance at this time of state bank CO.
operation, saying in part:
Il believe that cooperation
on the part of banks is a pat
riotic duty at this time, and
that membership in the Fed
eral Reserve System is a dis
tinct and significant evidence of
patriotism"
A state bank member now may
withdraw if desired upon six months
notice, and under recent amend
ments 80 + Il shall retain it's full
charter and statutory rights as a
state bank or trust company, and
may continue to exercise all cor
porate powers granted it by the
state in which it was created, and
shall be entitled to all privileges
OF member banks y y T."
In some states laws have been
amended to facilitate membership
OF state banks, Pennsylvania hav-
ing recently enacted a law with
other states special legislative SEES
sions are being considered in view
CT the great importance of mobiliz-
ing our financial energies most
effectively at this juncture.
Labor conditions in this district
are disturbed. There have been i'm
by strikes, notably those in the ship
yards about San Francisco bay and
those of Puget sound and the
Columbia river. In some cases there
has been temporary resumption of
work at increased wages pending
further adjustment by the Federal
Wage Adjustment Board. In some
cases the demand has been made for
tie closed shop.
The National Industrial Confer
ence Board aptly says: "* y y un-
der the present circumstances of
national necessity, it is the duty of
both the manufacturer and of or
ganized labor to cooperate with the
government y = =" THE non
union man is as necessary in the
factory as he is in the army" There
has, of course, been no demand that
only adherents of the closed shop
should be allowed to fight.
The council of national defense
has created a committee on labor
chiefly controlled by representa-
tives of national unions. This COM
mittee urges the sound and wise
view that employers and employees
in private industries should not at
tempt to take advantage of the exist
ing abnormal conditions to change
the standards which they were un-
able to change under normal condi-
tons"
1t is too obvious to require state
ment hat our present national need
is for the greatest industry, the max
imum product and the minimum
consumption of food and other
goods on the part of each individual
as his contribution towards a uc-
cessful prosecution of the war, and
that no CONSEQUENT hardShinS of