davidaulloa/AmericanStories huggingface dataset:
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-31
FARM MORTGAGES AND INTEREST
Editor AskOv American:

Editor Askov Americana:
In the March 18th issue of the
Askov American, under the caption.
"Chattel or Crop Mortgage" Mr.. Mos
b;ek says in part: THE mortgage
Oender) has gambled with the bOr-
rover that such property was worth
certain value and able to sustain
mortgagor and family and beside pro-
duce the payment of a certain rental
of the money after taxes and all
other current and unavoidable ex-
penses are paid for" and further
along he says: IF the mortgage mad
gambled in wheat and bonds or any
other security, he would have lost
heavily. and pocketed the loss with
out question"
To these statements I should like
to take exceptions. While in broad
view the statements may be correct,
nevertheless, so long as we are oper-
ating under a capitalistic system Of
which interest is a necessary part,
there must always be two sides to the
problem of borrowing. and both sides
should live up to the terms of loan.
if possible. Where a loan is OBJ
tanned from a single individual modi-
ticationS of such terms may easily be
arranged between the two parties.
Where loan is obtained from loan
and trust company, the board of di-
rectors may if they are so inclined,
arrange with the borrower for modi
ficatiOn of the terms of the loan. I
believe this has been done in many
cases. But, we now come to the
loans made by the Federal Land Bank
and the Department of Rural Credit.
law. The entire operation of both
OF these institutions are prescribed
by law. and the men who are placed
at their head, are there only to adj
ministrate that law. They have no
legal right to change the terms of
any loan. They are responsible to
the whole people within the nation
and state respectively, and they must
look after the rights of the mortgage
as we'll as the mortgagor.
Now as for the gambling part Ger
tainly there is a gambling chance con-
nected with every loan of every kind.
AS a rule though. it is not considered
gambling to invest money in state or
national securities, and the bonds
issued and sold by the Federal Land
Bank are guaranteed by the federal
and state governments, hence any loss
sustained through the borrowing of
money through these institutions must
eventually be paid by the taxpayer.
AS a rule. gambling is usually con-
sidered as a chance to obtain valu-
ables for nothing. If a man pur-
chases wheat he not only takes a
chance of losing but also a chance
Of winning. and where the stakes are
lowest If person buys common
stock in corporation he takes a
chance of winning an unlimited
amount, depending on the prosperity
Of the corporation. If however he
buys ordinary preferred stock, he is
entitled to his interest and no more,
regardless of the earnings of the cor
poration. Ordinarily he has no voice
in the administration of the corpora
ton.
A farm mortgage is much in the
nature of preferred stock. The mort
gage agrees on definite terms to let
the mortgagor have the use of GER
tain amount of money, against sat-
isfactory security. for certain length
OF time. The mortgage has no voice
in the administration of the farm, and
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-31

After more than 90 years as a
country editor, w. O. Saunders, of
Elizabeth City. North Carolina
printed this bit of wisdom: 81 have
learned that the American people
have lively passion for the truth
the whole truth and nothing but the
truth, about everything and every
body-except themselves and their
family connections
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-31
OPINIONS OF OTHERS

(Short timely letters on topics
Of public interest are welcome.
ions conform with those of the
American. All letters must be
signed with the writer's name for
our information. Signed articles al
ways are more effective. but II the
writer does not wish to have his
name used. it win be withheld.)
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-31
THAT OPTIMISTIC NEWS

During the past few days optimistic
reports have been published about the
Lindbergh kidnapping case. These re-
ports would indicate that contact has
been made with the kidnapers of the
infant son of Col. and Mrs. Charles
A. Lindbergh by the Intermediates.
but people are almost afraid to take
them too seriously in view Of the
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-31

"You say you have driven a car for
ten years and never had a backseat
driver" inquired the weak-chinned
gentleman.
Yeah" asserted the sad-faced man.
81 drive a hearse."
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-31
CARD OF THANKS

We the undersigned, wish to ex-
press our sincere gratitude to all who
were SO kind to Us during the illness
and death of our loved one.
Mrs. Minnie Maurer
Elton Maurer
Floyd Maurer
Gilbert Maurer
Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1932-03-31

Perfection will be reached when the
automobile can be made fool-in-the
other-car- proof Arkansas Gazette.
Evening star., 1932-04-03
BANKERS TO CONTEST
FOR PRESIDENTS CUP
Institute Students Strive for
Chance to Fight or
$4,000 Prize.

Washington Chapter viii hold its
annual public speaking contest in the
chapter rooms Thursday, April z. at 8
pm. Every member Of the chapters
public speaking class will participate,
as will also number Of bank employees
who have not been actively engaged in
this work this year.
The Educational Committee announces
that through the interest and co-opera-
tion of majority Of the bank presi-
dents of local banks, that are members
of the bankers association, hand
some trophy has been provided, to be
known as the Bank Presidents Cup"
The winner of this contest will have his
name engraved on the cup and will re-
tain possession of it for one year. The
cup, however. will remain in open COM
petition until it shall have been won
by one person three consecutive times
The subject in this contest is The
Banker in Our Economic System. The
winner will be sent to the district con-
test. to be held in the Eastern section
of the country some time in May; the
winner of that event will be awarded
trip to the annual convention OF the
A. I. B., at Los Angeles in June, where
he will take part in the annual S50.OO0
A. P. Giannini public speaking contest
The judges for the local contest VIII
be Sidney F. Talliaferro, vice president
and trust officer, Riggs National Bank;
Joseph w. Cox, associate Justice, Su-
preme Court Of the District OF Columbia
and RAYMOND B. Diekey.- dean OF tne
faculty, Washington Chapter.
Evening star., 1932-04-03
BONDS ARE LOWER
AT SHORT SESSION
Rail List Bears Brunt of Sell.
ing-Utilities Group
Heavy.
BY VICTOR EUBANK,
Associated Press Financial Writer.

NEW YORK, April 2.-The bond
market continued its linping gait today
and even the United States Govern
ment section, conspicuous ny its recent
strength, turned somewhat mildly ir-
regular. ,.....
The rails, as usual. bore the brunt of
the selling wave, with the low-priced
speculative mortgages suffering the
most At the same time some of the
higher-grade carrier bonds displayed
moderate resistance and refused to
shade their prices beyond fractions.
Losses OF y to more than points
were recorded by Missouri Pacific IS of
1877, Baltimore 81 Ohio 412s, Chicago
& Northwestern 434s, Erie SIS and South
ern Railway As. Some of the Atchisons
steadied, as did Canadian Pacific de-
benture As and ST. Paul S. Nickel
Plate 6s. a conspicuous mover, dropped
around 5 points at one time and then
rallied slightly.
heavy tone, although there were some
firm spots In this group. Cincinnati
Gas 81 Electric 4s ran up 31s points
on the sale of two bonds. Steadiness
was shown by Duquesne Light AIS,
Consolidated Gas and Pacific Gas is
sues. American & Foreign Power 5s
slipped more than a point and Utility
Power & Light debenture 514s, Western
Union 5s and Colorado Gas & Electric
5s were of moderately.
International Match IS and Kreuger
& Toll SIS declined and Shell Union Oil
5s sold lower. but various other indus
trials moved in a narrow range.
Foreign government obligations were
mixed, the Argentines being especially
in demand, while the Germans turned
heavy. The Brazilians advanced and
Japanese issues were steady.
Evening star., 1932-04-03

being confined to street sales, and
prices show a slight decline from last
week at 1434 and IS cents dozen for
current receipts, but offers of doubt
full quality have to be sold at dis
counts. Duck eggs in more liberal re-
ceipt and market rules easy and val
ues lower at 18 cents a dozen for
large, clean stock and IA for small,
dirty eggs.
Demand for old potatoes shows a
decline and market rules easy and
lower, especially on poorly graded ma
tive and nearby stock. Only well
graded No. potatoes attract attention
at rs to 80 per 100 pounds, and mixed
ungraded, as we'll as No. potatoes are
not wanted. Sweet potatoes and yams
in moderate receipt, but ample for the
demand at 1.00a125 a barrel for the
former and 100a1.75 a barrel for the
latter, but ungraded as well as over
large stock hard to move at 50a75.
The market for native and nearby
garden truck holds steady on all lines
and prices show little change from last
week at the following quotations:
Kale, 25a50 bushel; onions, 500 and
600 per 100 pounds Spring onions, rs
a100 per hundred; oyster plants, 600
a8.00 per hundred spinach, 75a90
bushel, and washed turnips, 25a40
hamper.
Live Stock Market
The live cattle market on the
wharves continues dull and quiet un-
der a general light movement, and
only choice, fat cattle attract atten-
ton. Arrivals on the wharves mostly
of common rough stock. which are
hard to move at inside prices. Quo
tations today at Light Street Wharf:
Beef cattle, first quality, pound, Cat;
common to medium. 3a5; bulls, as to
quality. 2L2a4; cows, choice to fancy,
4a5; common to fair, 2a3.
Oxen, as to quality, 31ha4: calves,
veal, choice, 0a61z; large, fat, 0a6;
large. rough, 0a5; common, thin, 0a4
Sheep, 114a3; Fall lambs, choice, 7
a8; fair to good, 4a6.
Spring lambs, 8ai0; hogs, straight,
5a5 z; sows, 312a41a; stays, 212a3; live
pigs, 8aI0; shoats. 6a8
Closing grain quotations: Wheat, No.
2 red, Winter, garlicky. spot, domestic
56ha; April delivery. 56hs May delivery,
So; corn. No. 2, yellow, spot, domestic,
43a44: cob corn, 200 per barrel; oats,
No 2, white, domestic, 34a35; No. 8,
white, domestic. ssas4; rye. pearby, bag
lots, 40a45.
Evening star., 1932-04-03
Business Notes
BY the Associated Press.

By the Associated Press.
NEW YORK, April 2.-If the auto
mobile industry is successful in its pres-
ent drive to stimulate buying OF it's
products the results should be highly
beneficial to glass manufacturers spe-
claIzng in automobile glass, says the
American Glass Review.
Manufacturers Of home electrical ap-
phances will next week launch a coun-
try-wide campaign to increase sales of
all types OF equipment, including re-
trigerators and air conditioners.
Proposals for solving the international
exchange problem and obtaining finan-
cial assistance for exporters from the
Reconstruction Finance Corporation are
being considered by a special commit
tee Of the American Manufacturers
Export Association, it is reported.
Prices on staple worsted and woolen
suitings are expected to be opened off,
cially to the trade by leading mills early
next week at reductions of from to 10
per cent below the opening quotations
Of last season.
Evening star., 1932-04-03
Stock Situations.

NEW YORK, April 2 (SpeciaD -
There are always many stocks whose
prices are difficult to understand in re-
lation to the values that the market
places on other stocks similarly placed
Many such situations now appear in
the daily quotation lists. A case in
point is Northern Pacific, which has
Just sold close to SO share. Northern
Pacific is undoubtedly one of the
strongest financially of the smaller sys-
TENS. 1t will not be a petitioner for
AID TO the Reconstruction Finance Cor
poration, yet its stock is selling below
Baltimore & Ohio, Illinois Central
Northwestern preferred Rock Island 6
and per cent preferred, Great North
ern preferred, New York Central and
Southen Pacific, all of which, except
Great Northern, have passed their
dividends.
Evening star., 1932-04-03
CANADA ATTEMPTING
TO BALANCE BUDGET
Increases in Taxation Will Be
Necessary to Meet Expenses
of Dominion.
Special Dispatch to The Star.

0pcCldi OlSpdbCu u lue SlhT.
TORONTO, April 2.-For the bal
ancing of the Dominion budget sew
eral increases in taxation will be
necessary, including an advance in the
sales tax. Canada's experience with
this tax is expected TO encourage the
legislators at Washington, as the mi
ton objections to its imposition here
have been forgotten during the last
decade, while its operation has proved
the most equitable and the most prac-
ticable method of securing the neces-
sary revenue.
In the heavy increase of taxation
imposed this week by the Ontario gov
ernment upon truck operators this
province is attempting the solution of
a problem common to both sides of
the international boundary For an
excess of highway building is one of
the extravagances for which both
countries have been criticized.
The difficulties at Ottawa resemble
those at Washington in one respect.
Increased taxation. alone is not ex-
pected to be sufficient to provide all
the necessary revenue for the hd-
ministration of the Dominion gov
ernment's affairs in the fiscal year
beginning with April.
.Copyrtght, 1892.
Evening star., 1932-04-03
Commodity Price
Trends of Week
BY II. n. McGILL.
OF the McGnl Commodity Service I,

OF the McGnl Commodity Service Inc
AUBURNDALE, Mass, April 2 lR.-
Nothing Of constructive nature has
occurred during the past week to halt
the downward trend in commodity
prices.
All commodities index declined to a
new low point with the industrial. agri-
cultural and live stock groups all lower.
The number of individual groups re-
cordlng an upturn continues to be
small Only three were higher three
remained the same and eight were
lower
Industrial prices still maintain the
slowly declining trend, and those groups
which DO show an upturn recorded only
moderate strength. Ferrous metals,
paint materials, and coarse textiles
building materials, chemicals and fuels
remained the same. The balance were
al lower
The uncertainty prevalent during the
past week regarding such factors as
balancing the national budget, the
Glass banking bill, the effects on vari-
GUS industries of special excise taxes,
and the possibility of the passage of
the $2,G0O,000 soldiers bonus bill as
we'll as increased taxes on sales Of
stocks and commodities has not been
Industrial activity has shown no re-
sponse thus Tar to the credit expansion
program inaugurated by the Federal
Reserve banks. Still operations con-
tinue at particularly low rate, but the
fact that Ford has now introduced the
new models should be a stimulating
factor from now on. The trend of
car loadings during the past two weeks
has given rise to some optimism that a
delayed seasonal improvement may
occur
Agricultural prices were affected by
the adverse influences, consisting OF
heavy supplies the attitude of the Fed
eraI Farm Board toward selling hold
lngs TO foreign countries and the pro-
posed taxes on sales in produce ex-
changes. The recent statement OF Sec
retary Of Agriculture Hyde, deploring
the agitation for additional loans to
farmers, brings out the fact that further
aid simply encourages greater produc-
ton at time when supplies are bur
densome His point is well taken that
markets for farm products are the
primary need. An Improvement In
business conditions would be the best
remedy for this situation.
Most important price changes in the
McGin weekly commodity price indices
--1926=l00. =
Evening star., 1932-04-03
WOULDL|FI SALES
BY LARGER FORCES
BradStreet Official Sees Too
Much Retrenchment by
Business Leaders.
Special Dispatch to The Star.


HARTFORD. April MANY execu-
tives are carrying their program OF cur
tailment and retrenchment to unjusti-
fed and dangerous limits, cutting sales
forces and decreasing advertising ap.
preparations" said E. B. Moran, execu.
tive of the Bradstreet Co. of New YorI
City, in an address before the Hartford
Association of Credit Men. Mr. Moran
spoke on the subject of "TomorTows
Business" Instead of curtailment,
they should be adding statesmen and
reducing each salesman's territory for
more intensive and intelligent sales fol-
low-up and increasing, or at least main
tanning, their advertising appropriations.
There are entirely too many business
men who today look upon business con-
ditions as being poor or even bad and
have decided TO sit by and await the
return of better days. This Is no time
for idle waiting and wishing-this is
time when vision, confidence, courage
and energy are necessary If tomorrow'S
business is to be improved.
What is needed today to improve to-
morrows business is less wishbone and
more backbone. Business needs pull
up, not pulmotor, confidence and less
fear of the future. Meet the challenge
peculiar to these times with action
rather than acquiescence. Give your
product an extra sales appeal.
The public is getting tired Of price
appeal. In the long pull price appeal
loses rather than gains in strength with
each repetition. Price appeal will re-
quire the continuous stimulus of new
reductions. The public is still appre-
ciative of quality, and 1882 viii prove
more successful to those who feature
quality and service than to the cut
price weaklings.
More advertising, scientifically pre-
pared and intelligently placed, backed
by more intensive sales efforts, COM
bined with confidence In Americas
business and courage to uphold quality,
will succeed on more permanent basis
than business sought on the shifting
sands Of price competition"
Evening star., 1932-04-03
Odd Lot Trading.

NEW YORK, April 2 (SpeciaD -
Brokerage houses that specialize in odd
lot trading have already experienced the
effect on their business of the increased
State taxes. 1t is understood that this
has caused a decline of about 20 per
cent in odd lot transactions. In view
Of this they fear that the much higher
taxes proposed by the Federal Govern
ment will make the cost of buyinp or
selling odd lots of stocks in the higher
priced brackets almost prohibitiye- In
recent months a great deal Of the pub
Tic trading has been in units of less
than 100 shares. A feature of this
trading not before known was the
amount of short selling of odd lots of
stocks. The percentage of tax on the
very cheap shares will be extremely
high. If it is carried out to the maxi.
mum in the so-called penny stocks, {"
it might be found that the tax was in
excess Of the price Of the stock itself,
Evening star., 1932-04-03
Dividend Changes.

NEW YORK, April (P).-Standard
Statistics Co. reports that dividend
changes both favorable and unfavorable,
dropped in number from those of the
preceding week. Unfavorable changes
numbered 81 in comparison with 100 the
week before. while the favorable ones
numbered 7, just half of the preceding
weeks total. Dividends were reduced
in 40 instances and passed in Al.
Evening star., 1932-04-03
Baltimore Markets
Special Dispatch to The Star.

Special Dispatch to The Star
BALTIMORE, Md, April 2.-The
general live poultry market, with the
exception of turkeys, has taken on a
slightly flrmer tone the past week under
an improved demand, especially for fat.
young broiling chickens, which are
scarce and meet with ready sale, and
values show slight increase over last
week on both young chickens and old
hens. Seasons for turkeys practically
over, but some demand still noted for
medium size fat birds, hens preferred
at 80 to 80 cents a pound and 25 to 27
Tor young gobblers, but old hens. toms
and large gobblers, move slow, at % and
"a, and crooked breasts hard to place
at l8 to 20. Mixed colored young
oroilers, to 2l2 pounds, are bringing
top prices OF % to 25, with other young
chickens selling mostly % to %, but
Leghorns will not bring over 20 to %
and stock weighing less than 10 pounds
pounds not wanted at any price. Mary
land and nearby old hens showing best
lat quality and are now preferred to
Southern fowls at IS to II for stock
weighing 312 pounds and over. but
Leghorns are Disseminated against and
will not bring over 13 and IA, with all
poor, thin fowl as well as old roosters
slow to move out at 10 to IL. Young
ducks, AZ pounds and over, In fairly
good demand and under light receipts
market holds steady at 18 to % but
all poor thin ducks are neglected at IL
and IA. Capons in light receipt and all
desirable birds. pounds and over, meet
with ready sale at 26 to 30, but smaller
as well as slips not SO desirable at %
to rs. Guinea fowl holding steady at
80 to 65 each for birds weighing 2
pounds and over, but smaller as well
as old fowl will not bring over 80 to 40.
Pigeons holding steady under a fair
demand at 80 to IS a pair for old and
20 to rs for young.
Egg Prices.
The egg market continues to fluctu-
ate due to some extent to weather con-
ditions as well as to unsettled condi-
tions in other leading markets Re-
ceipts of nearby stock continue light,
but ample for the demand, there being
but little h5riness and few sales on
the exchange .sr1oSt Of the transactions
Evening star., 1932-04-03
Steel Plant 0perations.

NEW YORK, April 2 (P). - Steel
plant operations in the Youngstown dis
trlct rose this week TO Is per cent of
capacity from 10 per cent a week ago
according to reports from that center.
Evening star., 1932-04-03

Dividend
payments based the --latest
'Exdividend Unit Of trading shares Partly
extra Plus 4qs in stock Paid this
payab!9 IN cash or stock Plus &C.. in
oek Plus 81 in special preferred SO stock
[ald last yea-no regular rate Plus
Evening star., 1932-04-03
SILVER QUOTATIONS.

NEW YORK, April . lP,.-Bar silver
easy and 1s lower at 2sla.
Evening star., 1932-04-03
U. S. TREASURY CERTIFICATES
FOREIGN EXCHANGE.

Quotations furnished by w. B. Hibbs Coz
Nominal gold Selling checks
Evening star., 1932-04-03
INVESTMENT TRUSTS

NEW YORK, April 2 tP).-over-the-
counter market,
Imperial Valley press., 1932-02-03
FEBRUARY TO BE
BUSY MONTH FOR
AUXILIARY UNIT

Bovce Aten unit of the Ameri-
can Legion auxiliary has a busy
month in view. the work of the
unit beginning Monday night when
its members served refreshments
TO the county council meeting OF
the auxiliary and Legion.
Saturday, February 6, a cooked
food sale will be held in front OF
the M. o. King store. beginning at
9 a. m. A special booth OF home
made candies will be presided over
by Mrs. Aylmer Thompson and
Mrs. w. J. McClelland will be II
charge of the entire sale.
On February 8, the unit Will
hold its regular business meeting
when committee chairmen Will
give their reports; on February ID,
the auxiliary juniors, under the
leadership of Mrs. Margaret Brat
ton. will have their monthly meet
ing, and on February % the unit
will hold its social meeting.
Mrs. Margaret Bratton, flag
chairman, is in charge of the Feb
ruary meetings which will be
patriotic in nature
In addition to these meetings
Boyce Aten unit will share IN the
Legion and auxiliary booth at the
county fair and will be in charge
one day
Imperial Valley press., 1932-02-03
STATE PROGRAM FOR
COUNTY BOARD MEET

Mrs A. B. Hanson, president OF
the Imperial County Federation OF
Women's clubs, announces the next
meeting of the executive board for
Wednesday, February 10, in the Nj
land club house.
In regard to the boards study
of county business, the eXamina-
ton of the elective county offices
will be completed, the auditor, the
recorder. the county clerk, and the
superintendent of schools being the
remaining elective offices for study
At the next meeting the board will
complete its study of the appoint
i've offices.
.- B. M. Gruwell, district superin-
tendent OF schools for FL Centro,
will be the luncheon speaker and
will talk on The Current Dis
cussion of Tax Adjustment Through
the State In this connection he
will discuss the program OF the
state realty board and the Califor-
MIA Farm Bureau Federation.
Seventeen bills are to be present
ed to the voters at the coming pri-
mary election and several of these
will be discussed by the county
chairman of legislation.