The Rocksprings Record and Edwards County Leader (Rocksprings, Tex.), Vol. 11, No. 26, Ed. 1 Friday, June 7, 1929 Page: 4 of 16
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THE ROCKSPRINGS RECORD
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Managing Editor
second-class matter No-
1927, atthe post office at
“ fs, Texas, under the Act of
March 3, 1879.
Friday of Each Week
••: cityofRock-
the County of Edwards
r
ML
rates, in advance
__:______$2.00
.$1.50
.75
.10 cents per line
is on Application
MONEY MARKET
lata trader and investor
j, wondering just what is the
B with the money market, and
$» causing this tightening-up in
of the fact that Federal
i Banks show that there is ap-
$2,800,000 more gold in
than one year ago.
this reason, other that,
number offer the opinion
ening-up is on account
- %■ beyond their means,
automo-
thousand and one other
the majority of us may
a lively gait, and driving
at we possibly will
we fed that this is
for the tightness
ct for the past few
a disposition on the
serai public to lay these
bor of the ordinary citi-
nt of the fact that he
in some ease and com-
>vide his family with as
as will promote their
i we have no fuss to
for a majority of us are
thing, more espec-
us who toil hard
to night, and wish to
in needful rec-
______and friends.
•e we ever heard ,any
"Wall Street Specu-
; his means, by driv-
by inky-black
a greater part
and engaged in
6 heavy toll of
a great deal of our
So-
dissipators. using the
we work so hard to get
channels, oniy to have
to them to gamble “on
about money stri-
to retard all legiti-
: this iron hand of the
and market nia-
.very severely
for legitimate
very active over the
today if it was not
that, our national wealth
gambling houses on
and otbtr places “on
Its#
Reserve System has
the cause of cur not
ey panic this year,
the situation is ckar-
this time, and within
will be back where
t the Federal Reserve Sys-
Wifl St crowd a drub-
iper men, more es-
editor, know very
' and is not in po-
this question in a
be taken serious-
public, so we ate
f oa article from The
a journal devot-
of information, and
man who knows just
about.
contained in this
seriously by
. of the Record 4or we
jpM covered the
tr that all can un-
irticle follows:
>ne thing about the pre-
credit stringency before
and business men at
for it, and the
business men at large
to suffer from its re-
can be clearer than the
*e commercial banker ar.d
Reserve System look upon
stock market speculation
disfavor.Let no oue doubt
attitude toward the pre-
credit in the
Actions speak louder
W« don’t need to ask
r« intended. All we
what they have done.
21, 192$ to March, 20,-
by the New
[exactly level,
to $1,-
occurr-
■§1,768,000,000.
But here’s the significant thing:
Loans made through the New York
banks by order of their large custo-
mers, known as “others,” amounted to
$1,285,000,000 at the beginnig of this
12-month period and more than doubl-
ed to $2,934,000,000 at the end. Fur-
thermore, there has been a great flow
to the stock market that did not pass
through the New York banks so that
the total of credit used in the stock
market outside of any banking control
is nearly four billion dollars today.
That sum would fight a pretty good-
sized war.
“General conditions in industry and
commerce are exceptionally good to-
day. This healthy condition will serve
as a great aid to those who must solve
the financial problem, but there is one
cardinal fact which compels attention
—credit stringency is laying its icy
hand upon the construction industry.
This is our second industry after ag-
riculture and bigger than any manu-
facturing industry we have. The warn-
ing is too plain to be disregarded.
“Of course the situation is not sim-
ple. Due to hand-to-mouth buying and
other credit economics and also, to
the excellent profits of the last three
or four years, many firms are out of
the banks. Owing to the system on
which stocks are'margined, the securi-
ty offered by the call loan market in
New York is pretty good. The indus-
trial firms, therefore who, despite bank
warnings are loaning on call in New
York, feel that they are carrying out
their duty to their stockholders, as
some have said in so many words,
by placing their money where it will
earn the greatest return.
“For this attitude of mind there was
much to be said so long as the banks
were able, by borrowing from the
Federal Reserve System and by fa-
voring legitimate business loans as
against other types of loans, ade-
quately to finance the daily movement
of trade and industry. The minute,
however that money becomes too dear
for profitable use in normal ways,
then the real interests of these large
concerns with excess money are radi-
cally altered.
“A concern may have funds which
it does not need to keep its own
wheels turnning, but how about its
customers? Unless their wheels turn,
too, the wealthy corporation’s sur-
plus is not going to .last very long.
So long as a corporation was getting
6, 7 or 8 per cent for its funds, and
stock speculators were paying the rate
the situation was understandable. But
if these “Easy Street” firms get 6, 7,
ft cent and jfcheir ^wpif
customers pay the rate, the situation
will be vastly different, and the duty
of the large corporation to its stock-
holders will no longer be to loan in
the call market, but to place its funds
in banking hands so that they may
get to its customers.
“The economic laws governing fin-
ance and business have not changed.
Good banking practice of 10 years ago
is good banking practic today. The
business world foresaw at the begin-
ning of 1928 a necessary heavy cut in
stock prices at New York. If the sp-
eculative spirit brings trouble to legiti-
mate business, legitimate business will
strike back with crushing force when
interfered with.
“The entire business public is con-
cerned. The banker is relatively help-
less. A concern which at the present
moment leaves its money in the call
loan market must take its Hcking
without whimpering and without
blaming the bankers if business pro-
sperity is adversely affected. Those
who failed to get out of the stock
market would then be in exactly the
same situation as the. firm which refus-
ed to take small cuts on its inventory
when the price crash staterd in 1920.
Some few long-beaded business men
lost a nickel and savdd 95 cents. The
vast majority tried to save the whole
dollar and lost everything but the
nickel
“It is by no means too late to get
out of the big party at New York
and come back and attend to the
chores. If we will do this, the very
excellent conditions of business being
considered, there is nothing to worry
about.”
,466,- on Wall Street (if there was really a
fight) will redeem itself in the eyes
of those who felt the sting from that
system some time ago, and come for-
ward and place its vast resources be-
hind legitimate business in the stock
raising communities, as well as other
legitimate trading over the state.
VOTE FOR THE AMENDMENTS
We have quite a lengthy “Where-
as and Resolved,” coming out of the
state house at Austin and signed by
several parties high up in Texas pol-
itics, regarding the coming constiut-
ional amendment special election to
be held throughout Texas Tuesday,
July 16th, 1929.
We would publish this long resolu-
tion coming from the politicial ma-
chine at Austin were we not afraid
that some would vote against these
worthy measures Qn account of the
fact that appeal is now being made
by those who hold the reins of govern-
ment that the people support these
measures.
We have always been in favor of
paying the governor of this state a
salary that will ,at least, provide him
with necessary clothes to wear, and
allow him enough cash to visit his
mother-in-law occasionally, for we
realize that $4000 is a mere drop in the
bucket, and it is disgraceful, to say
the least of it, that Texas cannot
pay its chief executive around that
paid to managers of big business in-
stitutions of the country.
We are in favor of paying the gov-
ernor of Texas around $35,000 or
$40,000 per year, and when we place
the salary of governor to a point where
big business men will be attracted to
the office, then we will have men as-
piring to the office of chief executive
Frank O. Landrum is now in Wash-
ington, being sent there by the Sheep
and Goat Raisers’ Association of Tex-
as, and in all probability will appear
before the ways and means commit-
tee this week, in an effort to have a
protective tariff placed on coarse
wools that now come in free of duty.
HFDLYTF
n ST OP s’ ITS A LIOUID r« V
H FADACHE
For Insomnia, Neuralgia, Rheumatic,
Periodic and Sciatic Pains. Aches and
Pains Accompanying Colds. Reduces
Fever, Quiets Nerves, Relieves Pain.
—
FRIDAY
_-
C;H. GILMER
Attomey-at-Law
Rocksprings, Texas
_____
Funeral
Modem Mortuary.
Modest Charges
Services at
Yeager Mortuary
Ambulance Service
Phone 3
Del Rio,
Delinquent List of the City of Rocksprings, Edwards County, Texas:
List of tracts, lots, out-lots, and blocks of land, or parts thereof, situated within the corporate limits of the
of Rocksprings, Edwards County, Texas, returned delinquent or reported sold to said City of Rockspringl
the year 1924. > ._ _
Year
Delinquents To Whom Assessed
Lots
Block
Acres Amount City Taxes Penalty
1925 A. E. Aiken & Wife
1926 A. E. Aiken & Wife
1927 A. E. Aiken & Wife
1925 Jose M. Beldcz
1925 Manuel Diabalos
1926 Manuel Diabalos
1927 Manuel Diabalos
1925 J. W. Gilmer & Wife
1926 J. W. Gilmer & Wife
1926 J. W. Gilmer & Wife
1927 J. W. Gilmer & Wife
1925 Juana Pena
1926 Juana Pena
1927 Juana Pena
1926 S. H. Gilmer & Wife
1926 S. H. Gilmer & Wife
1927 S. H. Gilmer & Wife
1927 S. H. Gilmer & Wife
of Texas that are capable of handling
our affairs of state in a manner cal-
culated to reflect credit upon the of-
fice, as well as the state at large.
We are sadly in need of a governor
of Texas who is a business man, and
a successful man at that. It is not
necessary that we look about for some
lawyer to occupy the governor’s chair
for we h^ve an attorney general who
is supposed to look after all legal mat-
ters. ,
, The first step up in the matter of
providing the governor of this great
commonwealth with sufficient salary
on which to live and properly enter-
tain is that contained in an amend-
ment to the constitution, which pro-
vides that the governor’s salary shall
\k increased tb $10,000 per year, and
wfc Mist "tmn Wery voter in TexaCt*
Edwards county in particular, will
cast his or her vote on July 16th in
favor of this amendment.
Another amendment to be voted on
at 'the same time is that of providing
the opening of the supreme court of
Texas for one year, instead of nine
months, as at present, and providing
further that the supreme court be
composed of nine members, instead of
three, as at present. We are in favor
of this amendment to the constitu-
tion, and trust that the people will
support this measure at the election
in July.
1926 J. D. McKee Est
1927 Mr. B. M. Halbert
1927 L. Lacey
1927 L. Lacey
1927 L. Lacey
1927 B. B. Espinaso
1927 Joe House
1927 W* F. Owens
1927 Paula Quintilla
1927 Thedoro Ruiz
1927 P. T. Wood
1927 P. T. Wood
1927 P. T. Wood
! > !
All 42
All 42
All 42
1-3
6-7 85
nil-2 of 3
sfl-2 of 4 86
n|l-2 of 3 86
s|l-2 of 4 86
nil-2 of 3
s|l-2 of 4 86
5-6 south
5(6 of 4-7 16
5-6 16
south 5|6 of 4-7 16
5-6 16
5 * 61
5 61
5 61
9-10 2
12ft. south end of 8-9
1|6 of 4 22152 of 3 5
9-10 2
12 ft. south of 8-9
1}6 of 4 22[52 of 3 5
All 64
s 5|6 of 4-7 16
Ali 70
1-2-3 74
Survey 51
1-2-3 • 60
5 • 74
1-2 south 1]2 of 3 43
10 108
1 85
All 56
All 79
n|2 of 57
$25.00
25.00
31-25
2.25
2.00
1.00
19.75
35:00
17.50
37.50
2.00
1.00
1.25
20.00
30.75
25.00
m
3.07
2.50
100
• I
■ * • * i
W’hile the housecleaning bee seems
to have taken a good hold on the
housewife these days, yet the same
bee seems to have stopped long en-
ough to inject a little of thjs needed
virous into the systems of the people
in regards cleaning house in national,
state, county and city governments.
The first to get a real dose from this
bee was Dallas, where a general housfe-
cleaning was had in the city officials,
and .we are looking for several more
to follow suit at no distant date, and
surely not later than 1930.
We trust that the Federal Reserve
System, in their fight on the gamblers
No matter where you live, we
are fully equipped to render the
utmost in service.
Your plans are our plans,
whether they be on a large scale
or in a simple unpretentious
manner.
Doran Funeral Home
Phone 317
Del Rio,
Texas
State of Texas
County of Edwards:
I, V. A. Brown Mayor of the Town of Rocksprings, Texas, hereby certify that the above ai
delinquents of the Town Rocksprings, Edwards County, Texas, is true and correct list of
said Town of Rocksprings.
In testimony whereof witness my hand at Rocksprings, Texas, this 23 day of April, 1929.
r . V. A. BROWN
Mayor of the Town of Rocksprings,
Stock up on Canned Goods
With summer almost here
when cooking is ofttimes
uncomfortable because of
the heat, if you have a
stock of canned goods you
can prepare a good meal
without going near the
stove. We are just
near as your phone.
as
J. N. LOCKLEY
»»>in77ri|liiii;illmiiil|iniiilininiliini.iifji|l nuiiiitiiii(|ii.iii||iiimil)niu||iiiiii|iiini:||i)iiiii|iiim||.ii.MHi.m.)i.in:i|j u|)
of speculative
ilt.lFI.Kl
To the Woman Who Cares
One visit to our Shoppe
will convince you that we
haue everything necessary
to help you look your best
at prices far less than you
will have to pay in larger
cities.
h
:Z
* <
TELEPHONE FOR EARLY APPOINTMENTS
The La Beoun Prince Shoppe
Im
The Best Sandwiches
- J
Roast ham makes one of the most del-
icious sandwiches—in fact it is a regu-
lar meaL Why not adopt the habit
of always having a roast ham on hand,
then when the children want a ’tween
meal snack you can give them a health
building ham sandwich.
Rocksprings Market
• :
jy
-ylf
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Hutt, J. W. The Rocksprings Record and Edwards County Leader (Rocksprings, Tex.), Vol. 11, No. 26, Ed. 1 Friday, June 7, 1929, newspaper, June 7, 1929; Rocksprings, Texas. (https://texashistory.unt.edu/ark:/67531/metapth1096771/m1/4/?q=Lamar+University: accessed May 31, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; .