davidaulloa/AmericanStories huggingface dataset:
The New York herald., 1922-02-19
COLLEGE GOT BACK
ALLSTUDENT LOANS
University Of Michigan Fund
Has Been in Operation
for 25 Years.

ANN ARBoR. Mich. Feb. 1s.--For more
than a quarter of century the Univer-
sity of Michigan has been loaning money
TO needy students. and over that span
of years has never lost cent through
willful failure OF the borrower to repay.
Several funds now arc available under
the plan that had It's inception with
the class of 1s9i, which established
fund from which the income was ito be
used as a loan fund for the benefit OF
needy and worthy undergraduates IN the
literary department" Afterward. sur
>pluses from various class treasures were
diverted 10 the fund. and although in
general the loaning privilege was limited
TO students Of the literary college a good
portion OF the money has been made
available 10 students in other brancbss
Of the university
The money Is disbursed by +. A.
Campbell. treasurer OF the university,
and the collective fund now approxi-
mates $4,000. All loans are subject TO
approval by the dean OF the college IN
which the student is enrolled and by the
president Of the university.
The recommendations OF the deans, it
is explained, are based principally upon
scholarship and the degree OF need. IA
a general rule, II is stated, students OBJ
talning loans are earning the greater
part of their expenses by outside work.
College authorities have noticed that
loans are sought In practically the same
propo rtion by men and women.
The maxim. IN loan which student
may make at ono time Is 500. and IN
general payment is expected 20 be made
within n year after graduation. with in
tcrost at per cent. In cases where
such action Is deemed Advisable, how
ever tho Interest Is waived.
The New York herald., 1922-02-19
SUGAR STOCKS.
BARNACLES EAT HULL
OF OLD 'WINDJAMMER'
Boston Clipper Ship of 1869
Hods Record to Australia.

TACOMA, Wash. Feb. 1s.---An old clip
per ship. the Glory OF the Seas. which
thirty-fvc years ago set record for
windjammers between San Francisco
and Australia, is being broken up, here
following the discovery that barnacles
have eaten into her hull beyond repair.
The stout old ship was quilt at the
famous Donald Mckay yards In Boston.
Mass, In 1869, and since then has sailed
on all the seven seas and called al
most of the important ports around the
globe.
Some years ago the Glory of the Seas
was purchased by Tacoma fish com
pany and was put In the service between
Puget Sound and Alaska. Each spring
she would spread her canvas and sail
away to the north. carrying supplies
and employees for the Alaska canneries
operated by the company, and in the
fall would return with the seasons
catch.
The old boat was built OF oak and
other tough woods and some of these
arc still in good condition. She is be-
ing broken up for what metal she holds.
The New York herald., 1922-02-19
U. =. LAND BANK FARM LOAN BONDS.

Bid. Ask. Ab't.
f'red. Land Bank +. J.. Js.
Nov. 1871, op. 81. .1o2A 1o3 400
rfed. Land Bank +. l.. IS.
May, 1871, op. '3f....... .102ss 103h 4.60
tied. Land Bank, n. L. 5s.
May. 1898, op. '23. ...... .100h 1O1 40
tied. Land Bank i. l.. AS.
May, 1889, op. ~. ....... 97i5 0Sia 4.6J
v nov. Ne, . 1888, op. 90 -. o7s osh 4o5
tied. Land Bank +. l.. Tss.
May. 1887. op. 22........ o'is osb 4.63
The New York herald., 1922-02-19
GREATEST SPRUCE LOG
BREAKS MILL MACHINE
Ten Feet in Diameter, II
Yields 5000 Board Feet.

HoouAiM. wash. Feb. II. - An
enormous spruce log. ten feet in
diameter. believed the largest ever cut
IN this section. recently was sawed into
10000 board feet of lumber here. When
FIRST put on The saw the big log broke
the mill machinery and was not cut
until repairs were made.
Some time ago larger log was
brought here but no mill would tackle
II and y was placed IN a Hoquaim park
for cx lbition purposes
The New York herald., 1922-02-19
BID AND ASKED QUOTATIONS
STOCK EXCHANGE QUOTATIONS..

To the following prices accrued interest Is
20 be added:
FOREIGN GOVERNMENT AND MUNICH
PAL BONDS.
The New York herald., 1922-02-19
rIEcrroNs ASp MEETINGS.

NOTICE OF the Annual Meeting ~ the Stock.
holders OF the De Winnie Press IS hereby
given, 10 be held at the offices of tho COM
pany, $4,000 Lafayette Street, New York
City, ". y. on Monday, February 2Oth. 1922
at 90 l.. NJ. for the purpose Of electlnE
five directors for the ensuing year and for
the transaction of such other business as
may properly come before said meeting.
J. w. boutwell,, President
The New York herald., 1922-02-19
BALTIMORE.

Sales. Open. High. Low. Close.
16 Arundel S & G 2oh 80 29z 29ss
Bait Elec pr. 81 81 81 81
II Cit Nat Bk... 42h 42ia 42h 42h
40 Cent Teresa pf 3 3 3
Com Credit 20 30 30 so
10 Cons Power. 30 90 % 90
10 Cons Pow pf. .iilK 1itA 11fH INK
10 Fidelity Trust 800 800 800 600
30 Md Casualty. sOiz s0,z s0iA s0i2
20 Mfrs Fin pf. .. - - - 25
80 Mercantile Tr .ol3 2i3 go 2i2
90 Merch Nat Bk 1917 1914 1917 1919
81 New Ans Cas-. 2sH 2SA 2sh 2sA
> Penna G w =. 97k 9Iiz aIiz g7I1
30 Unit Rys. ...... 10as 10ia i03s 10iA
900 w Il g. A.. 49, 1919 15h 15H
The New York herald., 1922-02-19
uNITED sTATEs GOVERNMENT BONDS.

Closing prices Of stocks In which there
We're no transactions yesterday:
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

ment held at Superior the past week.
When the Ashland team found that
they were out Of the running for
second place they turned to and
boosted for the Washburn team in
every way and encouraged them on
to success. This is the ideal spirit
and is bound to bring better feel
ing between the two towns. Friendly
rivalry is desired and the Ashland
boys showed the stuff they are made
of when they turned to and boosted
rival team against what could
be termed ga rank outsider" when
Washburn was defending the honor
of the Chequamegon Bay region
against another section. The Wash
burn boys sure did appreciate that
boost Ashland and they are only sorry
that they could not 'fbring home the
bacon" for this bay region.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23
WASHINGTON LETTER
BY J. e. JONES.
PLUGGING UP HOLES IN

PLUGGING UP HOLES IN
THE CONSTITUTION
Nineteen times since the framing
and adopting Of the constitution of
the United States the people have
been called upon to make amendments
to the original and basic document
New holes show up constantly, and
they have to be plugged. A few
weeks ago President Harding ad-
vocated in his message, the TWEEN
tieth amendment to the constitution
in order to check the increasing vol
ume in tax-exempt securities. There
isn't the same thrill about tax mat
tiers as was found in. other previous
reasons for changing the constitu-
ton, when a check was placed on the
drinking booze, and when suffrage
was granted to women; or even when
the election of United States Sena-
tors was left to- decide by direct
vote.
Nevertheless the new constitution
al amendment would remedy a
pernicious and growing evil. Philip
H. Gadsden of Philadelphia, one of
the country's clearest thinkers, ar
gued this proposed constitutional
amendment at some length before the
Committee on Ways ard Means of
the House Of Representatives. Sup
pose was in your State" he told the
Committee Chairman, "and / was
worth a million dollars, and you issu
ed these tax-exempt securities and |
invested half of my income in tax
exempt securities, SO that did not
contribute anything ito the State
government at alp" And accord
ing to Mr.. Gadsden that is just what
lot of rich men and women are do
ing; investing in gilt-edged' securi-
ties that have been especially exempt
ed from taxation in order to make
them desirable for people who have
surplus money that they want to put
to work with the least possible ply
steal and mental exertion.
In order to carry on the railroads,
public utilities and telephone and
telegraph business of the country it
is necessary to raise nearly $4,000
100000 of new money year. Mr..
Gadsden points out that with a
rate of return limited on public utili-
ties to eight per cent in the majority
of instances, and with municipal
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23
BILLIONS OF TAX =
EXEMPT SECURITIES

According to President Harding
nearly twenty billions of dollars in
tax-exempt securities are in exist
ence. That means, clearly that
this vast sum of wealth is escaping
taxation, and that rich tax-dodgers
are having things made easy for
them by a system which has grown
and grown until it has become
menace. 1t stands to reason that
if the very rich dodge twenty billion
dollars worth of taxes that the rest
Of the people Of the country are
paying it for them.
Congress- McFadden of Pennsy-
lvania, in commenting on the con-
dition says that the time will come,
unless the evil of issuing tax-exempt
securities is checked, when half of
the people of the country will be
paying the entire burden of taxes of
the other class; that class best able
to pay will be relieved from the pay
ment of taxes"
Mr.. McFadden also points out the
seriousness of the situation when he
says that "the continuation of the
present tax exemption of moneys
and credits and to the imposition of
heavier taxes upon farm and other
lands"
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

bonds yielding 4.55 per cent, an in
weston subject to surtax Of over
10 per cent cannot afford to buy
public utility securities. He con-
cludes that this means that all new
capital obtained by public utilities
from private investors under these
conditions must come from individuals
having taxable income of $4,000
or less per year. Such a restriction
makes it quite impossible for the
public utilities to interest the heavy
nvestors-hence the troubles that
we hear so much about whenever
these semi-public institutions and
industries are discussed.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

cutive branches of the Government,
and it knows that the Senate is apt
to be less ruthless than the lower
branch in denying the expressed
wishes Of the President and Secre-
tary Mellon. A Democratic Con-
gresham describes the present bonus
bill in these cryptic words: cts
father was haste, it's mother was
fright, and its name is bunk"
The ex-service men have a pretty
clear idea of the situation, and it is
violating no confidence to say that
Their hopes of passing their measure
through both Houses are at a very
law ebb. Nevertheless they will
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23
WHY THE REASON?

Governor Blaine evidently Thought
he was making hit. when he called
a special session of the State Leg
islature at a cost of thousands of
dollars to the taxpayers to repeal
the secrecy clause of the income tax
law. The last Legislature battled
over this question, and there was
nothing to be gained by calling a
special session at this time, when
the matter could well have waited
until the regular session to be held
in january. But the Blaine-LaFol-
lette crowd made grave mistake
when they called secret meeting OF
the 'Fbosses" and hand-picked the
candidates for the people to vote on
at the primaries, and his special SEES
sion with the cry that individuals and
corporations have defrauded the state
,out Of thousands of dollars through
the income tax law was nothing more
or less than a "snioke screen" be-
hind which they expected to draw at
rtention from that meeting OF the
political bosses.
The secrecy clause, according to
our Understanding, does not prohibit
the state taxing officials from view
ing the books sof corporations. but
1T does prohibit them from divulging
that information 20 Others who might
want to pry into others affairs. The
law as it now stands prohibits the
tax commission, assessors of income,
and all employees of the commission
from div,tlging any Information con-
tanned in income tax returns, provid-
ed. however, certain information
contained in them may be divulged
under rules and regulations to be
prescribed by the tax commission. En-
formation divulged is limited to
such as relates to ownership and
value -of property, and may be given
Only to public officials charged with
the duties of assessing the same
for taxation"
ANY such public official is prohlDlf-
ed from divulging any information
received by him except so far as may
be necessary for the performance of
his duties. Disclosure should not
be made at any time except when as
sessing officers are engaged in the
performance of their duties and for
no other purposes than to enable
them to perform such duties.
There is but few individuals and
corporations that would object to
showing their books no taxing Off
Gals and many of them even ask
that the income assessors assist them
in making out their blanks, but
there are few Of US that would like
to have the secrets Of success cor
failure" held up to prying- individual
for the purpose of satisfying curosi-
-ty.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

IF you want to know what the Tax
Commissioner. Of the Chicago and
Northwestern Railway thinks of
,Washburn and seven other cities of
Wisconsin you should see his report
on the 'itrue value per capita of
personal property and real estate in
SIS Wisconsin cities as sent out this
week. The statement shows the
per capita real estate for Washburri
at $472 and the personal property at
$3.50. The repor then lists 8 places
Hurley, Little Chute, North Fond du
Lac, Oconto, Spooner, Stanley, Toma
hawk and Washburn, with the note
that "the towns just named may
fairly be. designated as "dead
towns" others are saw mill towns,
or railway terminal towns in which
the average value of residence pro-
perty is relatively low" Mr.. T. "A.
Polleys of Chicago, sends these re-
ports out with his Compliments"
We woulr like to ask Mr.. Poileys
what his railroad has ever done ito
improve conditions in any of the
above mentioned towns. The Omaha
is part Of the Northwestern sys-
tenn and we would like to know what
great Improvement this road has
ever made in their Washburn pro-
perty that would raise any city from
the ashes of the dead. We would
like to know from Mr.. Polleys why
the Omaha railroad continues to
serve the people of Washburn from a
depot that would be disgrace to a
road in Nero's time. We would
like to call his attention to the fact
that while other roads were serving
their territory the Omaha permitted
this territory to go snow-bound for
a period Of seven days and then a
Washburn engineer finally opened
the road up with skinner plow "A
town is no more dead" than the
railroad that serves it, and taking
this as comparison then we must
admit that we are "dead." Give
Washburn a railroad that is alive to
the possibilities of this territory and
we will show Mr.. Polleys what a
healthy youngster we really are.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23
WHO'S INDEPENDENT?

When John Quincy Adams was
President nearly hundred years ago,
he predicted the end Of political par
ties. "There still remains one effort
of magnanimity, one sacrifice to
passion, to be made by the individu-
ais throughout the nation who have
heretofore followed the standards of
political party" With this simple
little thing accomplished, Adams saw
the end of political parties, to be
followed by getting-together of
"countrymen and friends"
Maybe Adams had his schedules
wrong, because many now claim to
discover the disintegration of politi-
cal parties in these latter days. Once
for few weeks, even the sagacious
Roosevelt thought he discovered Gin
dependent thought when he carried
the Bull Moose campaign through the
South. Within the past few weeks
the Republican leaders in Washing
ton have been singing their songs of
party praise, and the Democrats have
been denying it all. The "independ-
ents" have claimed to find promise
for the future in the farm bloc"
and the decision of the labor move
ment "to support their friends no
matter which party they are in at
the election this Fall. Thus rifles
of party discord or disaffection with
a political policy are seized upon to
prove that party in Government is
on the decline. AS a matter of
stern history, past and present, the
party system of Government has be-
come deeply ingrained American
tradition, and those who see in the
affairs and politics of the National
Capital the disintegration of party
are on the wrong track.
THE BONUS BILL
There is decided clash between
the executive and Legislative branches
of the Government that may lead to
serious developments. The House
of Representatives is determined to
push the bonus bill. The House pro-
gram has been denounced by the
Treasury Department as "a danger
Gus abuse of government credit"
One Congressman says that many
icicles of sympathy and freezing adj
vice are handed out" and he COM
pares these alleged acts of the Trea-
sury as Gin harmony with the pro-
tests against frozen credits These
credits, declare the critics of the
treasury, would likely never reach
one per cent of the loans held by the
banks and trust companies. Presi-
lent Harding is plainly sorry that he
committed himself to the principle of
4 bonus, and he has left no doubt but
that he feels that the House leaders
are insisting on impossible schemes
for raising the money. On the other
hand the House leaders are just as
critical of the proposed sales tax,
which the President. suggested. This
form of tax has been repeatedly de-
'eated by Congress during the Sixty
seven Session. This dilemma oc-
,asioned by the differences within the
Republican leadership has brought
forward another group who have
sought to restore harmony by post
of the bonus. The Ameri-
AN Legion insists that there must
,e no postponement and in this they
ire backed by House leaders. The
after are apparently delighted to
,e able to get rid of the direct re-
of the bonus at their end
# the Capitol. The Legion is mind |
ul of the differences that have grown
10 between the legislative and exc
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23
NOTICE TO FRUIT
AND BERRY GROWERS

All farmers interested in the
growing of fruit and berries in a
commercial way are requested to
meet at the Commercial Club rooms
Friday, March 24th at 1920 A. M,
this is an important meeting and all
interested parties should try and be
present.
WASHBURN FRUIT GROWERS
ASSN, by E. Bryan, Secy.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

WE ARE indeed glad to note the
friendly feeling shown by the Ash
land High School ball team toward
the Washburn team in the tourna-
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

fight on! And if they fail-as they
expect to fail-they declare that
they will carry the issue into the
Congressional elections next Fall.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

THE Railroad boys, the Red Cross
and City Firemen sure are right on
the job. When the family of Mrs.
Swifton was burned out last Satur-
day night and left without money,
food or clothing these people got on
the job the very next day and pro-
vided them with the necessary ar
ticles with which to get along on.
1t is swift work that counts in time
of need.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

CITY employees who have read
about the fine financial condition of
the city are wondering why it is they
have not received their pay for these
many months.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

THAT Grounding sure is deceiv-
err. On Grounding he came forth
and failed to see his shadow, which
according to tradition is a sure sign
that spring is at hand. But it is
hard to make Northern Wisconsin
people believe that the Grounding
is right with anywhere from foot
ito three feet of snow covering the
ground on the 23rd- day Of March.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

"Soak it to 'em" with more severe
penalties if you want to stamp out
the illicit liquor traffic is the advice
of Commissioner Stanley Smith in a
letter to District Attorneys sent out
this week. But Friend Stanley
should remember that the district at
torneys do not impose the sentence,
neither do they have to do with
seeing that the sentences are carried
out. sPaltry fines of a minimum
amount would never stamp out any
evil and unless the penalties are made
more severe Commissioner Smith
does not expect the law to be observ-
ed by everyone. He adds that for
repeated violations term of five
years in prison may be given.
The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1922-03-23

''Hats off to Coach Albrechtson and
the members of the Washburn High
School basket ball team for the show
ing made in the tournament held
at Superior the past week. They
did not win the tournament but trey
did bring back "scads of honor" to
the home town, by having two play
ers picked for the All-Conference"
team besides winning medals and a
basket ball. The Washburn boys
played like wirl-winds, their floor
work was perfect in all games, but
in the final contest they had trouble
in connecting with the basket and
lost to Superior Central. Starting
with "green' material Coach AL
brechtson was able to build up a
machine that was a credit to the
Washburn school and ito the home
town, and had the element of luck
been with the team in the final
game we might have been represent
ed in the state tournament. But a
small school in a small city has diff
Gully in finding material to build up a
team to go against the bigger schools
and we can all feel proud of our boys
even tho they lost in the final game.
The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1922-11-17
TRADING WITH YOUR
HOME MERCHANT
HELPS YOU

In 5000 prize contest among
hardware merchants fer the hest
essay on the subject. why II Pays
to Trade With Local Merchants" Il
is no surprize to us or To our readers
to know that our congenial frien 4
Hamp Williams, Hot Springs. Arkan
sas. won first prize of 5000.
We believe that che essay should
be read by every hardware merchant
in the country. TIL argument in
cluded is most vital and close to the
heart of every reader.
Hamp Williams has the happy
faculty of saying these things that
each one of us knows, yet putting
them in a way that gives new force
and conviction. Although he makes
the same good points from year to
year, he always makes them in {
new way.
The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1922-11-17
NOTICE OF ASSESSMENT
Black Metals Mines, Inc.

Location of principal office, 220
Felt Bldg, Salt Lake City, Utah.
Location of mine Jackrabbit Mining
District. Lincoln County, Nevada
Notice is hereby given that at a
meeting of the board of directors,
held ON the l4th day of October,
1922, an assessment to be known as
assessment No. 4, of one cent (1c)
per share, was levied on the out
standing capital stock of the cor
poratlon, payable immediately to
Ed ii. Snyder, Secretary, 220
Felt Bldg, Salt Lake City, Utah.
Any stock upon which this assess.
ment remains unpaid on December
4th 1929, will be delinquent and will
advertised for sale at public auction
and unless payment is made before
he sold on January End, 1928,
at 2 o'clock p. m. at the company s
office, 220 Felt Bldg, Salt Lake
city, Utah, to pay the delinquent
assessment, together with the cost of
advertising and expense of sale
Il. ii. SNYDER
The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1922-11-17
PERSONAL ITEMS
VIM. ii. Pitts left Tuesday on a
business trip to Salt Lake City.

VIM. II. Pitts left Tuesday on a
business trip to Salt Lake City.
Joe McDurmott was phoebe Wis
ltor the early part of the week.
Judge Geo. F. Talbot was visiting
his many friends in Phoebe this week
Jay e. Johnson, of Salt Lake City,
and Fred A. Reber of ST. George,
Utah, were in Phoebe this week in
the interest of the New York Life In
surance company.
Mr.. and Mrs. Palph Olinghouse
were in from their ranch last Satur-
day.
Chas. Lee was in from Wilson
Creek Monday.
Mr. and Mrs. Chas. Kixmiller ant
baby of Pony Springs visited in towr
for several days the early part of the
week
Chas. Slaughter claims to hav'
broken all the deer hunting record