anaheim-gazette 1924-07-03

CAN'T CRITICIZE HIM Democratic politicians were dum-founded to discover that the Republi-cans nominated for the Vice Presiden-cy a prominent banker against whom they can not aim their criticisms on the ground of his occupation. Mr. Dawes' record as a banker is one of the strongest elements in his favor. Democratic campaigners will probably keep silent on that subject. Mr. Dawes first came to public attention in 1898, when he was appointed comptroller of the currency. The primary duty of the comptroller of the currency, is to look after the banking system of the country, that is, the national banks. He is expected to see that the banks are conducted in accordance with law and good banking practice. Mr. Dawes took the view that since regulation of banking is primarily for the protection of depos-who are not in a position to protect themselves, his first duty should be to guard the interests of depositors. When he came to the head of the banking system there were 121 banks in the hands of receivers. Each of these banks had a separate receiver with the usual lawyers drawing large fees, accountants, menographers, clerks, etc. As is usual in receiv-ship cases, expenses were high. In pursuance of his purpose of protecting the interests of depositors Mr. Dawes set about the task of reducing the expenses of the receiverships. As a result of his efforts $100,000 was saved during the first ten months he was, in office. A number of these receiverships had passed through the active stage and the receivers had become practically mere custodians of funds awaiting distribution. Nevertheless, their fees and their operating expenses were still being charged against the banks over whose business they had charge. originator of such fundamental principles as the removable cylinder head, three point suspension motor and torque tube drive, all incorporated in the Model "T" and which have since been generally adopted in the automotive industry. The correctness of these basic features has been strikingly proven by the fact that in the entire ten million production, while improvements have constantly been made, there never has been any deviation from the original principles of the Model "T." Previous to the time the Model "T" was introduced the Company built and sold approximately 25,000 Ford cars of other models. The first Model "T" was completed October 1, 1908, and it was seven years later, December 10, 1915, when Motor No. 1,000,000 was produced. Since then, under an ever increasing demand, production has steadfastly grown until a new output record was established in turning out the last million cars in 132 working days. THE HIGHWAY BONDS The last of the forty million dollar state highway bond issue, voted by the people in 1919, is gone. The last block of the bonds, a total of $3,000,000, was auctioned off some days ago by the state treasurer and brought a premium of $181,500, the largest in the history of highway bond sales in California. The purchase was made by a syndicate of eight large San Francisco and New York banks, represented in the bidding by the Anglo, London-Paris bank of San Francisco. The interest rate of 4 1/2 per cent, fixed by the Highway Finance Board, brought out a large crowd of bidders. In the wind up the successful syndicate was being opposed by the National City Bank of New York which offered a Dawes set about the task of reducing the expenses of the receiverships. As a result of his efforts $100,000 was saved during the first ten months he was in office. A number of these receiverships had passed through the active stage and the receivers had become practically more custodians of funds awaiting distribution. Nevertheless, their fees and their operating expenses were still being charged against the banks over whose business they had charge. This expense was out of all proportion to the service the receivers were rendering. Mr. Dawes devised a plan for the appointment of one receiver at Washington to take charge of all of these inactive receiverships, thus terminating the receivership fees and dispensing with a large number of unnecessary employees who had little work to do but whose compensation was charged against the funds to which the depositors looked for their reimbursement. The plan which Mr. Dawes devised has ever since been followed and the good work in the interest of depositors will still be credited to him even though continued after he ceased to be comptroller of the currency. Mr. Dawes as comptroller declared that stockholders in national banks are liable to depositors to the extent of 100 per cent par value of their holdings of stock. Bankers did not share this view and took the question to the courts with the result that the Dawes view was sustained. As a result of this position on the part of the comptroller the depositors in many a bank received one hundred cents on the dollar in the liquidation of the bank's affairs, whereas they would otherwise have lost considerable sums. In addition to saving money for depositors during his administration, Mr. Dawes made a number of recommendations for improvements in the banking law, which recommendations showing not only his ability as a banker but his high sense of official duty. Democratic campaigners will not get far by attacking a record such as this. FORD'S TEN MILLIONTH A new and outstanding achievement in the automobile industry of America was attained in Detroit June 4th when the cen-millionth Model "T" Ford car left the final assembly in the Highland Park plant of the Ford Motor company. The purchase was made by a syndicate of eight large San Francisco and New York banks, represented in the bidding by the Anglo, London-Paris bank of San Francisco. The interest rate of 4 1/2 per cent, fixed by the Highway Finance Board, brought out a large crowd of bidders. In the wind up the successful syndicate was being opposed by the National City Bank of New York, which offered a premium of $181,000. The first offer was ap remium of $50,000. The sale of the bonds will have little effect on the finances of the Highway Commission as far as any new work is concerned, it was pointed out by highway officials following the sale. All of the money will be needed to make payments on contracts already under way. From now on, the Commission's only source of revenue for new work will be Federal Aid Allotments. All available funds from this source also are obligated at the present time, and the Commission anticipated a slowing down of new work until belated payments from the federal government build up the funds to a point where additional contracts can be entered into. This situation was brought to the attention of the public early this week, when State Highway Engineer R. M. Morton, announced that notice of bids had been recalled on two grading jobs in the Truckee River canyon and on the construction of a bridge in Ventura county. The time has arrived, officials said, when very little new work can be undertaken until the legislature puts in force some plan for the refinancing of state highway work. Studies along this line are now being made by the committee of nine, appointed by Governor Richardson, and a plan will be presented to the next session when it convenes in January. The sale of the $3,000,000 in bonds today brings the state's total bonded indebtedness for highways up to a total of $73,000,000. All of this sum will not be finally paid off until 1965, and the total cost to the state will be in the neighborhood of $155,000,000. This means manufacturing down or open hours, which sumption of light their hours well as the power if it is new turn back their home or candles, but tries of the st Manufacturing and theater use such light necessary to on of their bus can be lighter days of our g COOLIDGE CAFE Campaign at the Coolidge public ticket abated during gardless of polo about by the election, account made yes and Los Angeles tion of a new mittee is effected the Southern C be directed from quarters by the Republican Cen northern heada tained at the campaign com Chancery buil l Interest in continued unce mary, it is rep throughout th e Coolidge w proved so popu campaign is re during the last of this increase titles have been state headquarters distributed. Requests for received from in the east and of the stickers FORD'S TEN MILLIONTH A new and outstanding achievement in the automobile industry of America was attained in Detroit June 4th, when the ten-millionth Model "T" Ford car left the final assembly in the Highland Park plant of the Ford Motor company. The motor bearing the number 10,000,000 was completed in the morning and reached the car assembly line early in the afternoon, and was assembled in a touring car, the most popular of all Ford body types. In celebration of having attained a 10,000,000 production record, the company announces that Ford car No. 10,000,000 will make a coast to coast trip as signifying the nation's wide popularity of the Ford car and its appeal to every class of driver. The car will be shipped to New York within a dar of two and leaving there will be driven across the country to San Francisco. The Lincoln highway has been selected as the official route of travel and stops will be made at most of the towns along the line. Frank Kulick, who years ago, attained fame and broke records as the pilot of Ford racing cars, will be at the wheel of the ten-millionth Ford during the trans-continental trip. Model "T" cars are today in use in every community on earth and the unusual success which has attended the Ford Motor company dates principally from 1908, when the Model "T" was developed and first introduced on the market. The company was among the first to adopt the unit power plant and the left-hand drive control and it was the DON'T GET HYSTERICAL An exchange says: It would almost seem that the State of California is in for another period of hysteria that promises to be as bad or worse than was the recent foot and mouth disease bugaboo. True, drastic measures were necessary to stamp out the disease, but some of the measures were so nonsensical that they were laughable had it not been a serious matter effecting the pocketbooks of the people. Such a condition promises to confront the state again unless the state supervisor of light and power, the state railroad commission and the public utility corporations furnishing electric energy go about the matter of water conservation in a business instead of a hysterical manner. The use of electricity, which in this instance means the use of water power, should be curtailed in every possible way, but the industries of the state should not be crippled. But this is just exactly what is being done by order of the light and power supervisor, according to the latest edict that has gone forth from the Southern California Edison company which places the blame on that official. Industries using electrical energy for power are to have their switches cut out from 9 to 11 a.m., from 2 to 4 p.m. and from 2 to 4 in the early hours of the morning. This means that many of the light manufacturing plants will have to close down or operate on a night schedule of hours, which would mean the consumption of more electricity because the lights would have to be used as well as the power. If it is necessary, let the people turn back the pages of time and again light their homes with kerosene lamps. Tomorrow we Celebrate FOURTH C A hundred and forty-eight years Independence was signed. Benjamin great men who framed that work chief exponent of Thrift in this lowed Franklin's advice and savings each week, found themselves special circumstances. Those whose earning died in poverty. Why not emulate the thrift account in one of our banks, week. You can do it without any necessities, and you will COOLIDGE CAMPAIGN CONTINUES Campaign activities in behalf of the Coolidge-Dawes National Republican ticket are to continue unabated during the coming months regardless of political activities brought about by the August state primary election, according to an announcement made yesterday in San Francisco and Los Angeles. Until the organization of a new state campaign committee is effected it is planned that the Southern California activities will be directed from the preprimary headquarters by the Los Angeles County Republican Central Committee. The northern headquarters is being maintained at the offices of the primary campaign committee of five in the Chancery building, San Francisco. Interest in the national ticket has continued unchecked since the primary, it is reported by party leaders throughout the state. Demand for the Coolidge windshield stickers which proved so popular during the primary campaign is reported to have increased during the last few weeks. Because of this increased demand large quantities have been secured by the two state headquarters and are now being distributed. Requests for the stickers have been received from a number of persons in the east and northwest. Quantities of the stickers have been sent to Illinois, Iowa, Indiana, Massachusetts, Ohio, New York, Pennsylvania and Washington for distribution. IF YOU WANT a good turkish Bath and Swedish massage—the place to get it is 628 N. Main Street, Santa Ana. A dangerous sport is any kind we are too old to take part in. DELINQUENT NOTICE Office of the Anaheim Union Water Company, Anaheim, Orange County, California. NOTICE There is delinquent upon the following described stock, on account of assessment No. 62, levied on the 7th day of April, 1924, the several amounts set opposite the names of the respective shareholders as follows: Cert. No. Am.t. No. Shares Due Anaheim High School District ...2594 1 $3.00 Christopher; L. J. ...2248 4 12.00 Christopher; L. J. ...2465 6 18.00 Celebration th of July Why not emulate the thrift account in one of our banks, week. You can do it without any necessities, and you will growth. We pay interest on de First Nation American Savings Try Us for Keep Irrigate with Growers of this region are facing o Southern California history. The unusually with few parallels. On top of this, come to cut down on their pumping load at a t Natural Gas We offer the growers located on our Celebration Fifth of July Ground and Fairmount Park Riverside PROGRAM Sports, Athletic Contests, Bicycle Racing Fair Grounds Running and Running Races. Some races in California have entered these riding, steer riding and roping, by roping, mule race, driven by amateur race, noted clowns, fafair Grounds to fair grounds, 50c. Children, 25c. Press, singing, band music. Fairmount Park Education Greater Fairmount Lake. Races, swimming races, diving Water Fairmount Lake Grade on Greater Fairmount Lake depicting famous historical events boats, decorated boats and barges, smoth fireworks display. NOTICE There is delinquent upon the following described stock, on account of assessment No. 62, levied on the 7th day of April, 1924, the several amounts set opposite the names of the respective shareholders as follows: Cert. No. Am.t No. Shares Due Anaheim High School District ...2594 1 $ 3.00 Christopher, L. J...2248 4 12.00 Christopher, L. J...2465 6 18.00 Mulvey, J. B...5290 6 18.00 Peter, Albert ...5420 1 3.00 Shea, T. F...5659 1 3.00 Southern Pacific Railroad Co....5597 1 3.00 Allen, Juo. F., Trustee 5638 7½ 22.50 Cochran, W. G.....4816 5 15.00 Dorsey, A. W.....4813 5 15.00 Janes Co.....4374 5 15.00 Littleton, Vern C....5236 1 3.00 Marsden, R. A....5037 5 15.00 Marsden, R. A....5817 1 3.00 Marsden, R. A....5820 1½ 4.50 Porter, Rufus.....6411 7 21.00 Richfield United Oil Co....5288 1 3.00 Strodthoff, J., Pledge for Joe Wagner ...5723 23 69.00 McFadden, C. E.....4067 10 30.00 And in accordance with law and an order of the Board of Directors made on the said 7th day of April, 1924, so many shares of each parcel of salt stock as may be necessary will be sold at the office of said Board at the office of the Anaheim Union Water Co., Anaheim, Orange County, California, on the 5th day of July, 1924, at the hour of 1 o'clock P.M. of said day to pay the delinquent assessment thereon, together with the costs of advertising and expenses of sale. ANAHEIM UNION WATER CO. L. J. Sheridan, Secretary. Natural Gas We offer the growers located on our grade Natural Gas. This product is economists and growers located on our line this great natural resource. Do not hesitate water flowing on your lands and groves. Our entire organization is at your service in obtaining Natural Gas Engines and equipment offers you the fullest co-operative. There is Where Nature Southern Co. Fullerton Placentia row we Celebrate Another TH OF JULY enty-eight years ago the Declaration of gned. Benjamin Franklin, one of the ed that wonderful document, was the hrift in this country. Those who folvice and saved a portion of their earnd themselves eventually in easy finanThose who ignored it and spent all poverty. te the thrifty class and open a savings our banks, and add a little to it each it without denying yourself or family you will be surprised at its rapid the thrifty class and open a savings our banks, and add a little to it each it without denying yourself or family you will be surprised at its rapid terest on deposits. National Bank American Savings Bank y Us for Job Printing Deep Irrigation Water Flowing with Natural Gas of this region are facing one of the most acute situations experienced in 75 years of california history. The unusually low rainfall of the past season has made 1924 a dry year dilers. On top of this, comes a shortage of hydro-electric energy which is forcing growers in their pumping load at a time when water for irrigation purposes must not cease to flow. Natural Gas for Economical Power the growers located on our lines one of nature's finest power fuels in the form of high of this region are facing one of the most acute situations experienced in 75 years of California history. The unusually low rainfall of the past season has made 1924 a dry year for wells. On top of this, comes a shortage of hydro-electric energy which is forcing growers to their pumping load at a time when water for irrigation purposes must not cease to flow. Natural Gas for Economical Power The growers located on our lines one of nature's finest power fuels in the form of high gas. This product is economical in developing water and is yours to command. Agricultural growers located on our lines are particularly fortunate at this time in having available natural resource. Do not hesitate to take advantage of this opportunity to keep the irrigation flowing on your lands and groves. The organization is at your service. We shall be pleased to lend you every possible assistance with natural gas engines and equipment. Call at any of our local gas offices where our representative you the fullest co-operation in meeting the present emergency. There is no power shortage Where Natural Gas is available Write or ask for our booklet, “Natural Gas, from the Fields to the Engine.” Southern Counties Gas Company Natural Gas Service Every Hour, Night or Day 230 Erst Center St. ANAHEIM Placentia Orange Santa Ana Balboa Beach