Jacksboro Gazette (Jacksboro, Tex.), Vol. 37, No. 14, Ed. 1 Thursday, September 2, 1915 Page: 1 of 16
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JACKSBORO GAZETTE
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VOLUME XXXVII.
JACKSBORO, TEXAS, THURSDAY, SEPTEMBER 2, 1915.
NUMBER 14.
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OUR UNE
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OFFICERS AND
DIRECTORS
W. A. Shown,
President
Sil Stark
J. R. Lilly
Vice Pres.
James Hayes,
Cashier
W. B. Mann
Asst. Cash.
S. V. Stark
S. Castleberry
J. H. Timberlake
L. T. Richardson
J. W. Kinder
IS JUST BANKING
::: No Side Lines :::
::: No Frills :::
Service within the bounds of
FAIR and CONSERVATIVE bank-
ing methods.
It is our purpose—to serve the
interests of our customers as
best we know—
May we not serve you on this
basis.
Jacksboro National Bank
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STILL (IN DECLINE
CRISIS FACED IS DUE TO
LOSS IN VALUE OF BRIT-
ISH COIN.
il STERLING IH
Ta $1.58% Which May Cause
Cancellation of Big War Or-
ders Placed in U. S.
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FLOUR
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THIS IS THE BEST FLOUR.
There isn’t a better judge of
flour on earth than my mother.
She uses the Jacksboro flour.
Merit commands recognition.
Consumers of this flour are
steadily growing in number. All
are pleased and none dissatis-
Nw York, Aug. 31.—Foreeign
exchange rates reached their
most serious stage today with an
overnight break of 2% cents in
sterling, the English pound sell-
ing in this market at $4.58%,
close' to the mark where curtail-
ment of big foreign orders to
the United States would follow
in the opinion of bankers here.
Nothing like the violent break
in quotations ever had been re-
corded ill foreign exchange mar
kets here before. The low level
reached today was 1% cents be-
low the mark set weeks ago by
financiers as the so-called irredu-
cible minimum, which when
reached, would cause British buy-
ers to seek other markets in
which to place their orders for
ders. What this would mean to
American industries could not be
foreseen.
The new low record of $4.58%
was the fifth low record estab-
lished in five consecutive busi-
ness days. Since last Thursday
the pound sterling has dropped
from 4.64 or 5% cents, nearly
one-half of which was registered
when the market opened today.
Bankers See No Relief. U
Last night’s closing of 4.61 was
the lowest value ever plaeed, at
that time on the pound in this
country. The situation today
was regarded as almost desperate.
International bankers here, look-
ing anxiously across the Atlantic
for relief, saw nothing more than
they did yesterday—the British
and French bankers were pre-
paring to remedy the situation.
It is thought possible that Brit-
ish bankers permitted rates to
reach their present low level be-
cause this would afford a strong
inducement to British holders of
American securities to sell and
thus reap the benefit of a 5 per
cent increase in values.. These
securities, it is understood, are to
be made the collateral of the es-
tablishment of a foreign credit
loan here.
With sterling’s break today,
francs also were depreciated to
within 1 cent of their previous
low record of 6.05. Lires were
quoted at 6.52, yesterday’s close,
4 cents better than the
rates reached, and reichsmarks
went to 80%, % of a cent above
TEXASJRE BEDS
REUSMPTION OF IRON INDUS-
TRY AT RUSK PRISON WILL
BE RECOMMENDED.
EXPERT CITES OPINION
Declares That Furnace Can Be
Operated at Big Profit, as Ore
Is of Good Quality.
the Stae Rtaiiroad, actively advo-
cated the resumption of the irom
industry and offered to provider
50 per cent of the cost of an ex-
pert to make a survey of
Rusk plant to ascertain the cost
of rehabilitation. Rusk and Pal-
estine indicated that they might-
raise the other 50 per cent. The;-
committee said James Gaffney of.
St. Louis, who was present*,
would be acceptable. Mr. Gaff-*
ney could not say offhand what It
would charge or how long it
would take to make the survey—
Plans were outlined to have fber
survey made and report made too
the Governor and Legislature^
Ore as Gocd as Any.
Mr. Gaffney, formerly engaged^
in smelting in Virginia and now
an expert mining chemist in St-
Louis, submitted figures to*
prove that East Texas ores rank:
Austin, Aug. 30.—It became cer- .with the best, and eould be made;
tain today that the Senate peni- into pig iron in competition wit?®
tentiary investigating committee
will recommend the resumption
of the iron industry at Rusk pri-
son, though operation may not be
under the direction of the State
Prison Commission. Another im-
portant developement today was
the statement of an iron ore ex-
pert that the East Texas Ores
are not peculiar, and are as good
as he bestt. This can be classed
as a red-letter day for the East
Teexas iron ore beds, which have
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, ;
Birmingham and Pittsburg.
He said that inexpensive treat-
ment through the roaster proc-
ess is all that is needed to make-
East Texas iron a wonderful suc-
cess. He submitted chemical
analysis to substantiate his state-
ments and then produced sum-
pies of Tevas ore before and ai?-
ter treatment. The treated cr«e?
showed high percentage in mag:—
netic iron by instantly clinging:,
to a magne, while tthat not treat-
ed was not responsive to
treatment. It costs 28e a ton
life
sack of Jacksboro Flour.
JACKSBORO MILL &
ELEVATOR COMPANY.
'
fied with the result of its use.
Be sure to always ask for a j such imports as could be obtain-
ed elsewhere than in America.
Foodstuffs, manufactured goods
and other products, in fact almost
|everything except actual, muni-
tions of war were embraced with-
in this category.
Demoralization in the foreign
exchange markets was succeed-
ed by almost chaotic conditions
'as the result of the break. Deal-
been dormant since eertain State
lowest officials gave them a brief trial.
Senator H. P. Brelsford, vice
chairman of the committee, said other eheap fuel is
their lowest and % of a cent be- at the close this afternoon that
low their closing quotation of yes- the committee is of the opinion
terday.
TWO HUNDRED
THOUSAND ACRES
Near Midland to Be Opened. T.
& P. Making Plans to Colo-
nize Large Tracts.
the evidence clearly shows that
with proper management and fair
opportunity the East Texas iron
ores will prove their value, and
treat it, he said, as lignite, oil or
used. After
treatment it is smelted and pro-
duces a high grade of pig witlr
less fuel, it being raised from 42:
to 61 per cent by such treat-
ment removes 12 per cent of wa-
ter and 25 per cent impurities*.
that the Governor and Prison | such as sulphur, sand, etc., which
Gommisioners could provide that ; had heretofore made smelting
opportunity if they saw fit with-; pensive and produced a lor
out wait'ng for legislative author-1 grade of ore. By the new proc-
ity. He also said that the Gov- ess East Texas ore could be pro-
i ings in foreign exchange were
ijwas no business worthy the name
jdone in English money here to-
ll day.
The big break means that En-
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DR. BRASELTON’S SANITARIUM
BRIDGEPORT, TEXAS
New and Modern Private Sanitarium, Equipped for the care
of Medical, Surgical, Obstetri cal and Gynecalogical cases. Qui-
et and accessible locality. Graduate nurses. Rooms comfortably
and well furnished. Modern operating and sterilizing rooms.
Miss Ida C. McCarty,
Superintendent.
Dr. B. E. Braselton,
Med:eal and Surgical Director.
WMi- X
emor owes it to the industrial de-
velopement of this State to have
Fort Worth, Aug. 31.—Midland the value of the East Texas ores
'virtually at a standstill. Rates',?”11 be 0,ne.°f the eentral points thoroughly tested and their value
i varying as much a a scent were ® tbe ^Ionization program which proved. The other two committee
quoted by different houses, but Ith<; Texas Pacific has map- men present assented. They were
these rates, in almost every ease,1 £ed ou* f°r this.fa11.’ ^corduiS to Senators Harley, chairman and
j were purely nominal and there ,P; B’ R<)dgfSj ™ml^ati°n agent King. Senators Morrow and Bai-
of the road, who returned Tues-.py were absent because of illness,
day from a month’s trip through jt was the opinion of the com-
Northern States. jxnittee and the East Texas dele-
The Texas and Pacific will en-jgation present that operation of
•fflish bnvors in addition to the'd°avor t0 colonize 200,000 acres of the iron furnace should be under
ifop of tr;aTket“ LX *“d “ at “ thiS W1- I—‘ believed
!paid by them- in this country for . Rodgors bring* back eneonrag-,in if„ snecess, and with ample fi-
! American products, are called “* rePorts fr0,m Nofhef States.] nancial backing by the State or
upon to pay a premium of 28% ' * am 10 t0“ch Wlt*‘. *hree, others, and with forces which
Icents on every pound’s'worth of |-colonization firms which probably were not being constantly chang-
purchase, or more than 5 perjwiH decld® t0 operate on our line ;ed. That will be the gist of the! plant successful
cent With London carrying this this yL'ar>'’ sa:d Rodgers. “I committee’s report and recom- with the modem treatment meth-
onerous burden, something newfkld many farmers in the North mendation. If the Prison Com- 0d; ask any practical iron man*’’
to British bankers, as English are exl>ecting to come to Texqs mission is not in sympathy the concluded the expert. Ml
money has for generations been thl's year' 1 think it is safe to;eonimittee would take the man- Replying to questions, Mr. Gaff
the world’8 standard of interna- say tbat ^exas W*R m°re agement of the iron plant from it. ney said he was not interested
tional finance, the qxiestion dis- Nort.hern farmers this year thaE. Prison Commission Interested, jin"any machine; that the one
cussed in banking circles here Florida, California or any othei Prison Commissioners Bass, mentioned by him was used ii*
today was “how long Great Brit- state* 1 not hear any ot‘lcr Bickett and Delaney were pres- 400 plants, and he submitted a
duced at $10.23 per ton, and oC
better grade, as against the
cost of $13.67 per ton.
Ores Not Peculiar.
An emphatic declaration
made by Mr. Gaffney that
is nothing peculiar or info
about Texas iron. He said
was better than that at B
ham and was more cheaply
ed The latter, he declared,
set the cost of transporting
ing coke to Texas. Treated ore-
is uniform in grade With a mini-
mum of impurities, he explained*
and is an ideal cast iron tee-
foundries. “There is no doubt:,
about making the East Texas?
n . » i __j ____
and profitable-
Sr
ain would continue to buy her
' supplies, as she was not compell-j
Koo, although he declined toj e<i to buy here ?
. a kt TT1CF name the American bankers be-1 Y ith the only world market of
CHINESE-AMERICAN LIN* hjn(J the new COmpany, said that j importance open here, purchases
state talked of at all.’
FIVE MILLION DOLLAR
25,000,000 BUSHELS
|cnt today and asked many ques- list of them. He said Birm
tions as to cost of rehabilitating ham charges $12 per ton for
the iron plant and of. the capital to which must be added a
OF TEXAS WHEAT needed 4o start it,
; was true of W. E. Craddock, per- Texas, while Rusk
rate;
The same j making. the price $17 and $13 inr-
could
Financed For Purchase of Rhips
gfittttrr -aa-sa:
said that he had only meager de- j R was thought, undoubtedly
H. B. Dorsey.
For Pacific Trade, Announced j tails of the plans of the line, but w°uld follow if exchange rates
. , | was told tht its stemers woauld' should go lower. This would re-
Monday in San Francisco. rn,inaaa suit in lessening to an
ernor. ine latter
when the purchase of a modern ing that a profit of $!1 per ten
machine for treating ore was really wonderful. Treatment
Texas’ 1915 wheat crop totals mentioned: * would increase the output of the
extent'between 22,COO.OGO and 25,000,0001 “We arc long on machinery at Rusk furnace from 80 to 125 ton**-!
have been signed by ameriean ;d D K been canceled as yet, it was said, upon government reports of previ new ore treating machine might| while now it is losing $,>,000 pet.
1 but the heavy premium which ous years’ crops, 200,000,000 bush !cost $0,000. In addition, -the year and never would nay undew
British buyers must pay gives ev- els. Threshing is finished with' plant must be rehabilitated ^ and j present conditions. lie gu{
and Chinese capitalists, who are
now negotiating for the purchase!
>-4 i1
of ships according to an announce The Gazette is the paper that
made here today by Dr. V. gives the home news. If you
lgton Koo, China’s first want the home news, you can get
to Mexico, who arrived it by taking and reading the Ga- fied very soon and that there will weeks in
the steamer Persia. Dr. z tfe.
stlpi
ISSi
m
ery indication in the opinion of 'the exception of the Panhandle, new parts replaced. I le could not | & inbound rate <m ecfcEna.....
local bankers, that cancellations Mr. Dorsey says, and it will be estimate the cost. It was suggest- , T ^ .
will follow unless rates are recti- completed there within two more «d that $250,00^should^ be^ ia . ^ ^ Gazette ”
be a decided slump in new or- er. " ‘ H- Hurdleston, manager of‘0ft?x said about some news item*.
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Jacksboro Gazette (Jacksboro, Tex.), Vol. 37, No. 14, Ed. 1 Thursday, September 2, 1915, newspaper, September 2, 1915; Jacksboro, Texas. (https://texashistory.unt.edu/ark:/67531/metapth731167/m1/1/?q=Lamar+University: accessed June 2, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Gladys Johnson Ritchie Library.