Federal Reserve Banks Define Early Powers and Rules
Washington November 12 The Federal Reserve Board issued a circular outlining the initial scope of operations for the twelve federal reserve banks opening soon. They will discount bills and commercial paper from member banks accept deposits of checks drawn on reserve banks and perform other limited duties until safe efficient organization is achieved. The board set basic principles for commercial paper including no rediscount of funds used for permanent investments and that rediscountable bills be self liquidating and capable of liquidation within thirty days. Acceptance must be indorsed by a member bank and cannot exceed half of its capital plus surplus. Paper for stock and securities or for mere investment is excluded. The reserve bank may rediscount up to 25 percent of capital for agricultural purposes or livestock with six months maturity, a limit that may rise in agriculturally stressed districts.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve
Federal Reserve Board
Congress
Central Reserve
Reserve Bank
Tie Vote in Idaho House Control Decided by Lot
Idaho voters face a tie scenario as the state canvassing board will cast lots on November 24 to decide control of the Idaho house between Republicans Democrats and one Progressive member. In Latah county both major candidates earned 1915 votes, determining potential majorities. Washington reports no navy word on cruisers North Carolina and Tennessee amid war zone comms issues. Agriculture clarifies that livestock foot and mouth disease poses little human infection risk, with rare serious cases. Rotary delegates from Omaha Sioux City St Joseph Kansas City and other western towns gathered in Lincoln for a central district get-together.
MENTIONED IN THIS ARTICLE
Boise
Ida
Idaho
House of Representatives
Latah County
Washington
Navy Department
North Carolina
Tennessee
Mediterranean
Department of Agriculture
Lincoln
Omaha
Sioux City
St. Joseph
Kansas City
Rotary Clubs
Rumor of Canopus Sinking Denied by Chilean Admiralty
In Valparaiso on November 12 a circulating rumor claimed the British battleship Canopus had sunk off Coronel. The Chilean Admiralty officially refutes the report, stating it is untrue.
MENTIONED IN THIS ARTICLE
Valparaiso
Chile
Coronel
Live Stuck Prices at South Omaha As Cattle Trade Sags
Cattle receipts at Union Stock Yards South Omaha total about 3,400 with light demand. Corn fed cattle moved slowly though shipping demand kept values steady or higher in places. grass beef sold well. Hogs 7,000 seen with dull trade but steady to slightly lower prices. sheep and lambs 9,000 with lambs down 10 to 25 cents from prior levels.
MENTIONED IN THIS ARTICLE
Union Stock Yards
South Omaha
American in Prison as Spy Trial Held in Jamaica
Kingston Jamaica Nov 412 Louis Wessels former head of Wessels Kulenkampf Co New York was committed to the high court for trial under the military secrets act Bail refused ensued in the case and he awaits trial in prison
MENTIONED IN THIS ARTICLE
Kingston
Jamaica
Louis Wessels
Commission
Wessels, Kulenkampff & Co
New York
High Court
Also Mentioned on This Page
Federal Reserve Board Outlines
New Financial System
U. S
Sidney
Nebr
Jno
Deere
Chatham Fanning Mill
John Anderson
Fundingsland & Millett
J. A. Woten
A. Barlow
Clerks
Jos. A. Wolf
Court House
Sidney, Neb
Devoe & Swenson
W. Ae
M Swensy
Clebarne Block
Nebraska
Joseph Oberfelder
United States
A A. Sharp
Dalton State Bank
P. O
Clara
D. H. E. Mantor
Office Stowittsa
Henry E. Gapen
Cheyenne Co
Sidney, Nea
Gapen Building
Hoagland
W. V. Hoagland
Hoagland & Hoagland
Attorneys AT Law
Norwry Plattre, Nebraska
Myron L. Babcock
Logan County Bank Building
Sterling
Colorado
Glenn Bliss
Bentley Building
J. ©. Swatzlander, M. D
W Western Drug Co
C. W. Zike
Elon
Sidney Mercantile Company
Cheyenne County Abstract
Hadley
T. Doran
Cheyenne County Abstract Co
H. T. Doran
American Surety Co
E. Harper
Wright
Sidnsy
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