The courier-index., 1921-06-10

Dleted DulldtuBS WI" =, - .:il crying dinner, although the ciup VIII omen before that date.
 Ii is a gratifying evidence of in +e,Iectual advancement that the Au- tLl, tLo1N ana Composers Society of Ar "a,a,g I'lS. ;e tbis week holding its fth NS,-l,''' N~n,i5i convention. This orgamza- fion t',i ' was started purely as local soc;atv of writers and mumclans, bnt if 1a spread ur5il its member sb;n of more than 200 covers the oI1fira. state For the past year the society has been sponsor for a literary magazine, The hThahSas Writer" which adequately sets forth the literary resources ot the stata. It is published in httle Rock aC 5I50 ger year
 There is no particular agitation over the movement to initiate an s,,ar5Toert to the constitution pro vid;nr for the DOrhibitlon of local IerisIation by the general assembly TIa nropositlon was jnaugurated by | Cow WgPae and has the support CT members of the Arkansas Bar As sociation. Petitions have been printed and are being quietly CIT eulated. Those who favor Ghe pro nosal do rot appear to be eXerting ! themselves as they apparently con sjder that they have ample lme Tn which to secure the necessary mum her of signatures. There have been no further developments with rel erence to the veto by Gov. McRae of the amendment proposed by the legislature for the assessment ot personal property for internal mn proyement. 1t is not probable that anything will be done until the sec retarv of state h;k had an opp0r- tunity to either accept or reject the petition for the new amend ment.
 Much satisfaction is derived in business and financial circles from the report issued last week by State Bank Commissioner Maxwell as com piled from the statements from the various state banks. These reports on the whole indicated an upward trend in resources and tendency toward 9 liquidation Of debts. Neith- CT is very heavy but the fact that the turn of the tide has been reach ed is enough to inspire business with a greater optimism for the future. That the bottom has been reached is generally believed. Wages and salaries are coming down along with the price of commodities and while the process will necessarily be slow, ! there is every reason to believe that a readjustnent is in progress.
 Wages being paid common labor on the farms are on the decline. 4 year ago 1t was q common thing for I farm labor to receive as much as 1 $2.50 a day. Then conditions be- gan to tighten. Farm products be- gan to move slowly or not at all. Prices dropped to a point frequently far below Che actual cost of produc- tion This condition could not con- tinue long One of the remedies being applied is the reduction in the wages paid farm labor. One large planter near Little Rock last Saturday called his men into con ference and informed them that it had become absolutely necessary to retrenCh; that he had no desire to discharge anyone, but that he could no longer pay $2.00 a day for labor. He had studied the sit uation carefully and had come to the conclusion that he could not af- ford to pay more than $1.00 a day and board, If the men were willing to work for that amount they would all be retained, if not he would have to let them go. Every man agreed to stay.
 Every foot of the Arkansas river bed and bars from g point below Wrightsville, almost to the Oklaho- ma border, with the exception of q few gaps, has been leased to some one, individual CT corporation, for the possible development Of oil or gas wells. Former Attorney Gener- al Arbuckle began the granting Of these leases and since the discovery of an oil seepage on the banks with in the city limits of Little Rock, Attorney General Utlcy has been Overrun with applications. No ae tual develOpmauJ has been started
 by any of these leasees, but it is expected that test wells will be drilled soon at some point along the river. The state will receive a
 handsome royalty on all gas and
 oil produced
 The Arkansas Tax Commission
 and the county assessors have one | of the most serious problems fol solution which has been presented for some time. A member of the
 commission will this week visit the ] Fl Dorado oil field to confer witf the tax officials No policy has vel been agreed upon as to the manner of assessing oil properties. Pro, . ducing wells may bp sva, oped opc