Five Mile Beach weekly journal., 1922-07-21
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COMMENT ELMER af4R TINES 4Rf

against the railroad managers, u
against the railroad labor board, the
regularly constituted authority of the
United States Congress for settling
wage disputes. 1t is similar to an en-
listed soldier striking against army
discipline and rulings with the excep-
ton that while a soldier may not quit
without being classed as a deserter or
subject to court martial, the railroad
worker may quit, but the moment he
strikes he is no longer legally subject
to any recognition by the labor board;
he simply f~orfeits the right of recog-
milton by the board and becomes an
outlaw against the United States au-
thorities. The moment he engages in
picketing or attempting to prevent
others from taking the places of he
strikers, he is in open hostility to the
United States Government. If the
labor board has the backbone to stand
on it's constituted authority, fighting
the board with violence becomes a
serious matter.
Under a former administration the
railroad unions licked the President
and forced a compromise from Con-
gress. If they can do it under the
present law they may we'll consider
themselves dictators. The chances
are that they cannot whip the labor
board which has the public back of it
perhaps 80 per cent strong.
The issue was squarely Joined last
week when the board invited all work.
ers who were willing to take the places
of those who quit to 90 SO and prom
Used that they would be fully protect
ed. Some of those who responded to
the appeal found they were not pro-
tected, and especially in the West, the
situation was so bad that many trains
had to be withdrawn on account of
violence, and considerable railroad
property was destroyed. The mails
were seriously interfered with in some
sections.
Legally every striker has forfeited
his railroad position, including senior
ity rights, passes, all claims to pref
erence by reason of length of service,
and if his standing is legally handled
he must begin at the foot of the lad
der if he ever re-enters the employ of
a railroad. Thousands of them who
have depended on their leaders to pull
them through have not yet realized
the seriousness of their situation.
An Act of Congress signed by Presi-
dent Harding on July LIST, is of special
interest to National Banks and their
stockholders. From the date of the
establishment of National Banks it
has been necessary for them to renew
their charters at considerable ex-
pense, every 20 years. The new law
extends the charters for SO years from
July l, 1922, and applies automatically
without action on the part of the
banks.
Under the original charters at the
end of 20 years it was necessary to
destroy all plates used in printing
bank notes, and new plates had to be
made in form to plainly distinguish
the notes printed and circulated I'M
der the extended charters. That ex-
pense to the banks is now wiped out
and the original plates may be used
until they wear out.
An effort is being made to have the
Senate pass an Act already enacted by
the House, making the minimum num-
Der of calls for a published financial
statement three in any one year in
cfOa1 re &un &c OF nRroc0nf Tho Nnnnn-
troller would have authority to make
more than three calls, but not less
than that number. This law would
not only provide for a sufficient num-
Der of calls, but would save every ma
tional bank a lot of expense and work
and ave large sums to the govern
ment which at present must tabulate
and publish all the figures at each
call. There are two examinations of
the banks by the c~omptroller's Office
each year in addition to the calls for
published statements so that the comp
troller's office would receive figures
from the banks five times each year
in addition to the two semi-annual
statements required which deal es-
pecially with earnings and dividends.
Comptroller Crissinger has made
another important ruling in which he
says that no more charters will be is
sued to National Banks started by
promoters, where any fees are paid to
agents for securing subscriptions to
shares or for any other service in
starting and opening a new bank. 1t
is probable that State Banking depart
ments will take like action in an en-
deavor to wipe out the bank promotion
schemes whereby professional bank
starters have been obtaining a lot of
easy money in the past few years.
There appears to be some evidence
that the Central R. R. Co. of New
Jersey intends to extend it's B~ridgeton
to Deerfield branch either to Salem or
Pennsgrove. If to the latter if would