Jacksboro Gazette (Jacksboro, Tex.), Vol. 35, No. 17, Ed. 1 Thursday, October 8, 1914 Page: 1 of 16
sixteen pages : ill. ; page 20 x 14 in. Digitized from 35 mm. microfilm.View a full description of this newspaper.
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Texas State Library
JACKSBORO GAZETTE
VOLUME XXXV.
JACKSBORO, TEXAS, THURSDAY, OCTOBER 8,1914.
NUMBER 17.
Tilt little Things
OFFICERS AND
DIRECTORS
W. A. Shown,
President
Sil Stark
J. R. Lilly
Vice Pres.
James Hayes,
Cashier
W. B. Mann
Asst. Cash.
MrsJVancesDnke
S. Castleberry
J. H. Timberlake
L. T. Richardson
J. W. Kinder
We appreciate the small accounts
At Our Bank
We appreciate any business intrus-
ted to us, and the small accounts,
well managed, often grow into the
largest accounts.
From the Banks side of
the Question.
There are many favors a bank may
extend, through the little personal
favors of its officials, which we are
always glad to extend to our cus-
tomers.
Let us show you.
BANK WITH US and let’s grow to-
gether
BIG SUM IS NEEDED
NANCE CROP OF TEXAS
AND OKLAHOMA.
we will as soon as practicable
loan this money in Texas and
Oklahoma communities, allowing
you to suggest locations if you
desire. We will take for your mon-
ey so loaned regular form of col-
lateral note secured with an
TO FI- amoimt of 1914 cotton at a price
of 7e per pound, basis middling,
which will equal or exceed the
face of such note. Cotton so ta-
ken as security to be evidenced
by proper State or bonded ware-
house receipt insured from fire.
We will hold such notes and ware
house receipts for you as your
agent and collect when due or
forward them to you to hold until
maturity.. We will loan no mon-
ey to any farmer unless he will
agree to materially reduce his
_ | cotton acreage in 1915. Security
'adequate 7c for cotton}—rate rea-
Dallas, Oct. 4.—Twenty-five j sonahle 6e—result, Texas prosper-
millions of dollars is the amount ity.”
DETAILS ARE PERFECTED
Organization Proposes to Make
Loans to Farmers on a Seven-
Oent Middling Basis.
of money the Dallas Cotton Syn-
dicate, which organization is the
Act as Sales Agent.
The syndicate not only plans to
COTTONPR0POSED
ST. LOUIS BANKERS HAVE
PLAN TO FURNISH FARM-
ERS MONEY ON STAPLE.
WAIT M’ADOO’S APPROVAL
m
$
iV ti:
t
THE CHOICEST WHEAT
HAKV]£ST
yields to you floiur which takes
rank second to none when we
»
grind it into what Is widely
known as the Jacksboro Brand.
Starting with prime whole wheat
FLOUI
outgrowth of the Dallas Chamber loan money on cotton, but intends
of Commerce, says is necessary tef to act as sales agent and upon
finance the cotton crop .of Texas authority Urom the farmer will
and Oklahoma, and an effort will sell any and all of the cotton up-
be made to raise this amount. Fi-on which the syndicate holds a
nal details of organization of the mortgage. All moneys above the
syndicate were perfected yester- cost of handling and enough to
day with C. W. Hobson, president take care of the loan will be re-
of the Chamber of Commerce and turned to the farmers, and no
the Southwest General Electric charges will be made for any of
Company, as head of the board of the transactions. The syndicate
managers. proposes to get every cent possi-
Finaneiers of the northern and ble for the farmers, and will not
eastern market centers have been sell the cotton unless all debts
asked to participate in the syndi- held against it can be paid from
cate, and in order to inspire con- the proceeds of the sale.
fide$nce in the organization those Two blanks have been drafted
fostering the syndicate have se- by the board of managers to care
made into flour according to the
best accept© modern methods, lected the board of managers £rc»n for the loaning and selling of the
what else could be the result bat\ among the mod: influential and eottoThese blanks follow and
Al flour? wealthy men 6f Dalles IW vy ft e vtJfc^tory.
V
JACKSBORO MILL £
member of the board of managers
Plans of Syndicate.
To Ths People of Jack County:
Carnival
ELEVATOR COMPANY. jg a member of the biggest and; In discussing the plans of the
most substantial business firms of syndicate, Mr. Hobson said that
Dallas. he did noi believe the board of
The Balias Cotton Syndicate mauagers had any fast and hard
i proposes to loan the $25,000,000 rules and believed that every
|to Texas and Oklahoma cotton membr of th board woneld be
farmers upon a 7c middling basis, ‘ glad to consider any criticism or
taking warehouse receipts as se- suggestion.
ex*
At the
Where Your $$ buy—esr MORE
j
A'"
1
.
“THE HONE OF
MANY ARTICLES’'
VARIETY STORE
eurity and will charge 6 per cent
interest on the money loaned.
Backers of the syndicate say that
of sufficient money can be obtain-
ed to finance the present cotton
'crop of Texas that the financial
“The officers of the Board of
Syndicate manager^,” Mr. Hob-
son said, “consisting of president,
three vice presidents, secretary
and treasurer, will be elected at
our meeting tomorrow.
stringency will be relieved and; “This plan has been submitted
the farmers will be able to pay al to a great number of business
pressing debts. It isi believed thai | men, both in and out of the State,
#25,000,000 will be required, in
and the loan plan especially
s.eems to appeal to all. It is a
practical businesslike proposi-
tion—no element of charity in it.
as Texas needs no charity. I want
to impress the point that we pro-
pose to operate all over Texas
and Oklahoma and in the cotton
growing sections, and we are
Food
Oooked With Texas Lard.
Soldiers to Eat
Federal Reserve Board.
The Southern Bankers were
invited to come to St. Louis to
discuss the plan. After an all
day session they sent from St
Louis tonight the following tele-
gram to Secretary McAdoo.
“The plan as laid before yon
and the Federal Reserve Boarcl
on Friday, last ,to endeavor to
raise a cotton loan fund of $150, •
000,000 today was submitted to
the undersigned. After careful
lution was unanimously passed:
“That the plan outlined by
Festus J. Wade in general es-
sence be adopted and the detaihi
worked out later. It is believed
the South will subscribe its pro-
portion as suggested and outlin*
ed.” .
_______ j Persons intimate with the prog-
ress of the plan declared tonight
St. Louis, Mo., Oct. 5.-—A plan that Secretary McAdoo and
for raising a cotton loan fund of Federal Reserve Board were mert-
$150,000,000 proposed by a con- !y withholding official approval
ference of St, Louis bankers, was of the plan until the Southern
ratified here today by a delega- bankers had been heard from,
tion of bankers from the cotton-! The proposed pool would fi-
growing States and now awaits nance the movement of 5,000,000
only the approval of Secretary | bales of a margin above the esti*
of the Treasury McAdoo and the mated surplus cotton.
Federal Reserve Board before it' T m i
Amounts to Be Prorated Among
Banks Joining in Proposition as
Soon as It Is Indorsed.
is carried int o effects.
The plan as approved “in gen-
eral essence ’ by nine Southern
bankers, who had been asked by
Secretary McAdoo to attend the
conference with St. Louis bank-
ers, provides for the raising of
the fund by subscriptions from
national and State banks, trust
companies' and mercantile and;
manufacturing companies through
out the country.
“It must be distinctly under-
stood, ” declares Festus J. Wade,
chairman ol t^ St. Louis Clear-
ing House.As.teiatioB, and
nator of the plan “that this is
not a movement for the purchase! ar*sm£ from the isurop
of cotton. It is simply a move ! Movement of the cotton crop
ment to make available a fund of takm as the most vital Point of
#150,000,000 to loan on cotton at attacking the problem, and Oct.
not to exceed 6c per pound mid- ^ **'le 1 reneral Managers Asoo-
TEXAS RAILWAY HEADS
ALERT TO SITUATION.
General Managers Association to
Meet October 10 With Farm-
ers and Merchants.
Galveston, Tex., Oct 2.—Gener-
al managers of Texas railroadsi
have joined the general move-
ment to overcome, by whatev<
dling basis. The establishment
ciation, with jobbers, bankers, re
of this fund will make the cotton ta^ers> farmers, and, in fact, ev
crop a liquid asset stabilize its er^ one kavmg an interest in the
price and bring about normal bus- > matter will meet at the Adolphus!
ine ss conditions in all lines of Dallas, to outline a program
trade.”'
To Pro Rate Amountss.
The amount to be raised by
each financial center will be ap
for future action.
A tentative plan outlined by J.
H. Hill, vice president and gener-
. al manager of the
Galveston,
portioned by the committee at a Houston & Henderson and presi
Fort Worth, Tex., Oct. 5.—En-
glish soldiers will soon be eating
bread cooked with “Texas lard.,:
A consignment of fifteen solid
carloads of the products, consist-
ing of 1,000 barrels left here yes-
terday en route to New Orleans,
from where it will be exported to
England. Armour and Company
manufactured the product at its
local plant and securely packed
it for the long trip.
Church Affiliations With State
University.
addition to the resources of the
9tate to handle the condition and
restore normal trade conditions.
Sending Out Letter.
In( making a bid for the assist-
ance of the commercial interests
of the North and East to raise the
fund needed, the board of mana-
gers is sending out the following j ready to receive subscriptions
letter: from our own people either for
Christian, 213; Roman Catholic, “We ask the manufacturers, making loans or purchasing cot-
93 ; Lutheran, 58; Jewish, 48; jobers and financial interests of ton as outlined in the form of re-
Church of Christ, 20; Congrega- this country who have profited ceipt. There are a few members
tionalist, 19; Christian Science,; from Texas prosperity to join j of the Board of Syndicate mana-
12; German Evangelical, 5; Uni- with us in underwriting this loan, j gers whose names we can not an-
versalist, 3; To tal 2357. We offer the best security—cot- j nounce at present, because the de-
There were but 121 students in ton warehoused and insured,; tails of the plan have not yet
attendance upon the State Uni- j which costs 9c to produce, and been formally approved by them
versity last session who were I which sold in 1912 at an averagei in writing. I believe it is a
without church affiliation or pref price* of 12.2c and! in 1914 at 13.- srong boatrd, and one that the
erence, a 20 per cent decrease 49c per pound. We propose to Dallas people have confidence in.
over the preceding year, notwith- back the notes of Texas farmers
standing a 13 per cent increase; with warehouse receipts for cot-
the preceding ton at 7c per pound middling ha- las Cotton Syndicate, care Dallas
j sis, paying 6 per cent interest for; Chamber of Commerce, and we
a
meeting to be held within the nex
few days, providing the general
plan meets the approval of the
Secretary of the Treasury and
the Federal Reserve Board.
dent of the Texas association oif
general managers, is for a special
arrangement whereby cottou can
be concentrated at natural con-
centration points without previ-
The bankers who attended the ously being compressed, and then
conference here today and ratifi-
ed the plan were:
P. M. Harding, president Delta
Trust and Banking Company,
Vicksburg, Miss.: R. H. Stewart,
president City National Bank,
Dallas, Texas; T. O. Vinton,!
president Bank of Commerce and
in perfect storage, literally un-
der the eye of the banker, may
be made available as a basis foi*
cash loans to the wholesale mer-
chants, who in turn would accept
cotton from the farmer as pay-
ment on debts.
As president of the association,
Trust Company, Memphis; D. N.|Mr. Hill today sent out the call
Fink, president of the Commer- frr meeting to his colleagues,
cial Bank, Muskogee, Ok.; B, D.! ■ « ■
Harris, vice president South Tex- xCn Thousand Bales * of Cottosi
as Commercial National Bank,
“For the present all subscrip-
tions should be addressed “Dal-
in attendance over
year.
Texas Wheat Sent to Greece.
the money. The undersigned have
formed a syndicate to handle and
want to see the checks of Dallas
citizens pouring in upon us. We
distribute over the whole South- j will announce later when we are
Galveston, Tex., Oct 6.—1The! money we know will be sub-
. first shipment of wheat to ever scribed. Me will serve Texas
A study of the r^lstra‘,ou|.clearthig p0rt fopGreeeeleftyes.land you without pay. The plan
cards of students at the State t(>rday on |mfm| the British is this: You subscribe an amount
University during the 1913-14ses-Lteamer .‘Hubert.” The car»o eflua] t0 10 P«‘r c,'nt of y°ur an‘
sion reveals interesting statistics num, . , .inual business In Texas, send yout
concerning church preferences ‘ ' * 0 ’ bushe,s and check indicating the length
!was destined to
ready to receive applications for
loans.’’
Trade Improving.
The last few clays has shown
Houston, Texas; E. W. Robert-
son, president of the National
Loan and Exchange Bank, Co-
lumbia, S. C.; J. H. Fulton, pres-
ident Commercial National Bank,
New Orleans; C. G. Price, vice
president Southern Trust Compa-
ny, Liitlte Rock, Ark.; and J. M.
Miller, vice president First Na-
tional Bank, Richmond, Va.
Bankers Wire McAddoo.
Two weeks ago Mr. Wade eall-
to Japan.
Galveston, Tex., Oct. 6.—On
October 3rd, the steamer, “Pei.-
nith Castle,’* cleared with a cai-
go of 10,000 bales of Texas cotton
purchased at various points over
the State by the Japan Cotton
Trading Company. The staple
will be delivered at Kobe, Japan.
This Japanese concern is buying
several thousand bales of Texgs
I cotton and is preparing to make
some improvement in trade over
church preferences »“« check indicating the length of!the past month. Some cotton is,
and affiliations, as follows: was uestmed to I iraeus, Greece. timc your money is available for i,Pins soid and the quarantine has,centers.
Methodist, 776; Baptist, 463; It was Texas grain and brought a loan, to the order of the Dallas been raised where gie stock dis-
Presb;terian, 4o4; Episcopal, 214; good price. Cotton Syndicate; for this amount ease prevailed for several weeks.
ed a conference of nine St. Lou- . _ .
is heads of mercantile houses and °^1(T s^ipin(ms 1° l e runt.
banks and submitted to them his -- •-—
plan for raising a fund of $130,-
000, 000 to loan in the * cotton
States and cotton manufacturing
Gathering Crops.
The plan then was
to Secretary
From all parts of the county re-
ports are that the people are very
submitted busy gathering their crops, which
md to the are generally fine.
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Jacksboro Gazette (Jacksboro, Tex.), Vol. 35, No. 17, Ed. 1 Thursday, October 8, 1914, newspaper, October 8, 1914; Jacksboro, Texas. (https://texashistory.unt.edu/ark:/67531/metapth863882/m1/1/?q=Lamar+University: accessed June 10, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Gladys Johnson Ritchie Library.