LOW RATES ON MONEY
LOANED IN WALL ST.
EXPLAINED BY BANKER
NEW YORK, Apr. <5.—Newspapers
Ihruout the country publishing daily
New York money rates on call and
short-term loans, often are asked by
readers where they can get some
of the money Wall Street is loaning
at, say, four percent when local
banks are asking six.
A leading metropolitan banker here
offers in reply that this lowex-pric
ed money is not available to the gen
eral banking public. It is put out
ur.d?r special conditions which he
sums up as “wholesale versus re
tail." Wall Street, he explains, can
afford to make wholesale price, such
as four per cent money represents,
because it makes these loans only
in wholesale amounts, with $1 O'),000
as a minimum.
The borrowing is perforce resit id
ea, this banker says, to laiger inter
ests whose high credit rating saves
the usual time and expense of in
vestigation. Placing the money in
hulk accordingly costs me bank no
more than arranging $1,000 for a pri
vate borrower, and becomes an ob
vious saving over placing the amount
in 100 separate retail transactions.
Furthermore, these large loans are
for definite and limited periods, and
are protected by giltedged security
which could be converted, if need be,'
overnight. Average commercial loans
being made under conditions just the
reverse, in his opinion, a higher re
! tail price must prevail.
Such loans represent smaller
j amounts, and “overhead” mounts up
i as loaning operations are repeated,
j There can be less taking on faith,
and expense again increases if each
applicant is looked up. Collateral
is less liquir. Loaning periods are
usually longer, and they carry a haz
ard of indefiniteness in the chance
that many have to be renewed.
Furthermore, this banker says, al
though a merchant’s or a farmer’s re
sources in proportion to what he
j wants may be fully as good as those
i of a corporation, he is necessarily
i limited to the community where he
; is known. With a community hav
ing only so much money available,
: cash is at a higher premium than
; in a money center where large bor
! rowers may shop.
_
There is big money in wheat
sometimes. Arthur F. Cut ten is
said to have made ten million dol
lars through that important com
modity, but not as a farmer. He
made it as a gambler of the Cliica
‘ go market, while the producer, con
| sumer and other people had to
! pav, directly or indirectly.
i ___
Eastman Kodaks anu supplies at
the Alaska Shop. tf
Sheaffer’s Life Time Pens, at the
the Alaska Shop. tf
HARDWARE, STOVES AND RANGES,
FURNITURE AND RUGS
GLASS AND CHINAWARE
PLUMBING, TINSMITH AND GUN REPAIR
SHOP
J. L. GRAEF
Service Is Our Watchword
BECK a WHITE
High Grade Line of
CIGARS, TOBACCOS, &
CANDIES
FINEST BILLIARD HALL IN ALASKA
Seward
Plumbing
Company
A SHOWER BATH WILL
FRESHEN YOU UP; WE
INSTAL THEM CHEAPLY
ASK ABOUT IT
Tel. Adams 80
Every day in every way
You enjoy your meals
AT
THE FISHER CAFE
Seward, Alaska Chas. Fisher, Prop.
Bread—two loaves for 25c
Butcher Shop Remedies.
If you're troubled with the Gout
Just spend two-bits for Saur Kraut
Then if you think you’re feeling worse
Spend two-bits for Weiner WTerse
Or if your heart is all a quiver
Take home a couple pounds of Liver
Then if you still feel kind of Bum
Then we might prescribe a nice Beef Tongue
But if you’re troubled with sharp pains
Try Vleadowbrook Eggs & Scrambles Brains
If this don’t make the world look brighter
Just tell your troubles to the writer
And anything he might suggest
Is guaranteed to be the best.
CARSTEN’S PACKING COMPANY
Patient Tepic Pleads
for Peace and Order
(By Associated Press)
TEPIC, Nayarit, Mexico, Apr. 7.—
This city, capital or Nayarit state,
is enjoying, or rather enduring, two
sets of “presidents” or mayors with
their allied officials and assailants.
The recent election was contested
by the “ins” on the ground of irreg
ularity, and they refused to turn
over the keys of the treasury to the
other faction, which claimed victory
in the balloting. The result has been
administrative chaos, and business
men are hotting that one side or the
other soon will be ousted, so the city
can settle down and enjoy its usual
calm.
Since the advent of the dual ad
ministration, two sets of lean and
hungry tax collectors have been be
sieging the stores and business hous
es, presenting their respective de
mands. At first, thru a practice
evolved of wisdom during the revolu
tion, both sides were placated by
donations. But the Tepic farce has
continued so long and money is so
scarce that the leading houses re
fuse to come thru with more “tax”
contributions to either faction. An
appeal has been sent to President
Calles to straighten out the tangle.
The new regime recently scored
one smashing victory. By sheer force
it drove from the streets all police
men of the old administration. Thus,
the fittest having survived, the new
policemen are patrolling the beats.
Parker's Duofold Fountain Pens, at
the Alaska Shop. tf
President Coolidge smmid not
take jibes at his electric ho’-se loo
seriously. When Thomas Jefferson
invented ihc swivel chair it a-js
rid mu od as “Jefferson’s whirligig,”
Mt modem bureaucrats couidn.’i do
w.-hout it.
Illll!lllll!l!l!!llll!ll!ll!l!lll!i!!>l!!!i!!!l!l!lll!l!!!!ill!ll!!iii
Ice Cream
MADE DAILY
HIGH GRADE
Candies
Framed Pictures, Photog.aphs,
Curios
SYLVIA’S
Phone Adams 128
TAILORING
Come In and Get Measured for
a Suit. Guaranteed Fit.
C. HENNING
Seward, Alaska
Take
THE FUR FARMER
MAGAZINE
and know the fur business. It
deals with every phase of fur
farming. Learn how others made
a success of farming fur bearing
animals.
Address
21 GOLMAN DOCK
Seattle, Wash.
HOTH OVERLAND
GORDON SHEA, Propr.
SPECIAL RATES BY WEEK
OR MONTH
New Heating Plant Just Installed
8
PIONEER CLUB
John Nash, propr.
SOFT DRINKS, CANDY
CIGARS AND FRUITS
Royal Palace of Hapsburgs
Cut Up Into Apartments
VIENNA, Apr. 7.—The Vienna
Hofburg, once the city residence of ^
the emperors of Austria, is now in i
the hands of renting agents. Al- |
terations have been made in the |
large edifice, and today it offers ;
327 living apartments and 45 busi-!
ness offices.
Slum Children of London
Interest Olga Nethersole
LONDON, Apr. 7—Miss Olga Ne
thersole, who came into prominence
in New York in 1900 as Fanny Le
grand in “Sapho” announced re
cently that in the spring she would
establish in England a national
boarding school for delicate children ;
which is to be conducted as a model !
institution.
Miss Nethersole plans to take 100 j
sickly children at a time from the
slums of London and to bring them
back to normal health by providing
proper food and plenty of outdoor
exercise. Her aim is to interest the
government health officials who, she
hopes, in time may build similar
institutions on a large scale for the
benefit of the population at large.
“I hope we shall prove to the
state authorities within four or five
years,” said Miss Nethersole recent
ly, “that our national boarding school
scheme is not only a humane and
common sense project, but also an
economic one.”
If you don't get your paper before
six o'clock please phone us and one
will be sent bv special messenger.
THE PALACE
John Mattich, Prop.
POOL, SOFT DRINKS AND
CIGARS
Furnished Rooms
Phone Main 55
AROti ERICSON
Painter and Decorator
SIGNS WALL PAPER
90 Girls Sacrifice Tresses
To Japanese Superstitoin
TOKIO, Apr. 7.—Miss Tsune Kara
sumoto, a maiden of Kuchikimura,
recently offered herself as a sacri
fice to be buried alive in the foun
dations of the new temple to be
built near the imperial tombs in
Momoyama. Tradition says that
some 300 years ago a girl of Tokio
was at. her own request interred in
the central pillar of Asakusa Tem
ple, and the popular belief is that,
her sacrifice saved the edifice in
the earthquake disaster of Septem
ber, 1923.
Times have changed in Japan, how
ever, and Miss Tsune’s offer was re
fused, so she and K9 other maidens
of the town offered their tresses in
stead, and these will lie under tin
cornerstone.
The temple is to house all the im
perial rescripts of which the late Em
peror Meiji Tenno was the author
and the building material is being
supplied by the villagers of the vi
cinity, each of whom will fell one
perfect tree and carry it to the site.
English Teachers to Visit
America This Summer
LONDON, Apr. 7.—A number ol
scholarships for British women teach
ers have been announced by the
education committee of the English
Speaking Union, in carrying out its
policy of providing facilities for Brit
ish and American teachers to visit
the respective countries.
One of these is the Page Traveling
Scholarship, founded last year in
memory of the late American ambas
sador to Great Britain, the holder of
which is invited to spend her sum
mer holiday in the United States as
' the guest of the Union. The visitor
may study any aspect of American
life in which she is interested. Two
! other scholarships include six weeks
jin the United States with special
privileges of the New York stale
summer Chautauqua, to be held in
July and August.
St. Louis bandits who robbed
: Chester Runnels and then ti< d him
in a sack were probaby hunters
used to bagging their game.
With 13 trumps Jim Fletter of
Denver got to take only one trick.
He had to trump the ace of his
partner, who then shot him.
Impressive Printing
Attracts the Eye
Like the Magnet
Attracts Steel
a
G A T E W AY PUBLISHIN G C O M P A IN Y
A CARLOAD
OR A SACK
C-O-A-L
-w
HEALY LUMP, NUT OR MINE RUN,
BAXTER NUT OR MINE RUN
EVAN JONES LUMP OR MINE RUN
NANAIMO RANGE COAL
IN SACK OR BULK
THE ALASKA TRANSFER
WOOD, ICE, HAY AND GRAIN,
TRANSFERRING AND TEAMING
ARCADE BLDG.
A F. DAVIS