26 Oct 1922
Page 1
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Newspaper
Rolfe Arrow
Location
Rolfe, Iowa, United States of America
Date
Oct 26, 1922
Page
1
The Arrowman announces cutting staff due to insufficient business, praising Ross Wilson as a loyal worker while noting the decision was not his fault. The editorial also critiques political rhetoric, discusses local and state elections, and covers Montana Missoulian coverage and Iowa soldier bonus law debates.
Iowa shows over twelve billion dollars in taxable wealth with grain output of 609,668,000 bushels in 1921. The state features 200,000 farms, average 160 acres, valued at over eight and a half billion dollars, plus extensive rail, road, and farm telephone networks and high literacy. Compiled by the Greater Des Moines Committee.
A Sioux City reader questions Senator Lenroot’s Esch-Cummins excess earnings claim. He notes railroads earning over six percent may not exist and argues few railroads paid excess earnings to the government, citing a railroad man’s view from October 1922.
The document states nothing shall imply United States guarantee or obligation on the securities. It notes a prior government guaranty of 6 percent from March 1, 1920, to September 1, 1920. Since March 1, 1922, the Interstate Commerce Commission may disregard the 54 or 6 percent, instead setting income to satisfy a US court on appeal. It adds railroad bonds at 4 to 4 1/2 percent are unaffected and interest must be paid or bonds foreclosed.
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