ANCHORAGE DAILY TIMES
AND COOK INLET PIONEER.
ANCHORAGE PUBLISHING CO.
Anchorage, Alaska. _
CHAS. E. HERRON, Publisher.
SUBSCRIPTION RATES FOR THE DAILY.
Single Copies .-.*
One Month ... 1*00
dix Monuis un advance; .? u.w
One Year (in advance) . 10.00 j
Entered in the Anchorage Postoffice June 5, 1916, as second class matter
under the Act of March 3, 1873.__
NOTICE TO KAIL IVBICUBZU.
The date on the outside wrapper of your paper Indicates the date to which
year subscription is paid. On the expiration of your subscription the paper
will be discontinued. All mail subscriptions must be paid in advance.
THE BREAK HAS COME.
The wires today tell us ttiat^the break in diplomatic rela
tions between the United* States and Germany has come,
through action of President Wilson. While we may not agree
politically wTith the democratic administration, we are with ;
the president in the course he lias pursued. It was a logical j
and expected outcome of the sweeping proclamation of the Ger- i
man empire, that assumed jurisdiction over the high seas, j
There are many people in the United States that are of German
birth or German extraction, who have become citizens of the
United States. In this unhappy state of affairs, they will be J
found loyally supporting the country of their adoption.
FEDERAL RESERVE BANKS.
' The financial flurry in the city of Seattle, which has now |
happily passed away, has been the first real object lesson as to j
(he value of federal reserve banks in ciises such as these. The i
Seattle banks, it is true, passed through the ordeal of important
withdrawal of deposits on the part of depositors, without seek |
ing the aid of the federal reserve banks, but it was because it |
was known that the vast funds of the federal reserve banks j
were available for use in case of need that permitted the Seat- i
tie clearing hones, an association of local banks, to issue no- i
rice to the public that the clearing house would quarantee pay-!
ment in full to all depositors in all the Seattle banks that put an
effectual quietus on the runs on the fiduciary concerns that
were the victims of withdrawals.
It was to meet emergencies of this nature that federal re
serve banks were established by the government. Tt is possible
for national banks, which come under the direction of the fed
eral government., to immediately convert negotiable securities
into cash by appeal to a federal l’eserve bank, fn other words,
the bank’s paper becomes liquid—the same as cash, so to speak.
With millions of dollars’ worth of liquor paper in the possession
of the Seattle banks, which could be turned into cash immedi
ately by appeal to a federal reserve bank, it was possible for the
Seattle clearing house to guarantee the payment of bank depos
its in the full and certain knowledge that the guarantee could be
fulfilled. Hence, the fears of the public were allayed.
I jet uk assume that there were no federal reserve nanas, to
appeal to as a last resort. What would have been the result ?
We prefer to think that the situation would have righted itself
as it has in done in this instance. The Seattle hanks have a na- i
tion-wide reputation among business men of being substantial,
carefully-conducted concerns. But with runs prevailing on
several banks in the city, it is possible that each bank would
seek to guard its own affairs, in the hope of weathering the
storm, rather than join in an effort with others and supply funds
to those banks that were in distress. The law of self-preser
vation would suggest this course. But with federal reserve
banks established, no such precaution is necessary. With the
utmost confidence a clearing house—as we said before, an as
sociation of banks-may boldly announce its willingness to stand
l»ehind every bank in the city, supplying funds to meet the de
mands of depositors, because their combined bank paper is as
good as cash; it can be converted into gold coin of the realm
without unnecessary delay at a federal reserve bank.
The federal law requires that national banks keep on hand,
to meet the possible demands of depositors, a certain specified
sum of their aggregate deposits. State and territorial laws re
quire a like condition. The banks may and do loan, under the
restrictions imposed, funds to individuals and concerns of vari
ous kinds. These individuals and concerns give notes in return
for money, to be paid, either on demand or at some specified
time. These notes are termed bank paper. This bank paper bo
omes liquid, under the federal,resertfe bank act, in that it may
he converted into cash at will. .
Alaska now has a sound banking law, passed by the First
territorial legislative assembly. And it is to the credit of the
bankers of the territory that instead of fighting the act in an
effort to defeat its passage, they materially assisted its enact
ment into law.
PUBLICITY ALL THAT IS NEEDED.
Last season The Time& ffc|»b occasion to point out an oppor
tunity for a large steam in Anchorage. This newspaper
has a considereable circulation on the outside and thus becomes
a mighty fine publicity agent. A fruit of our editorial comment
on what we considered an urgent need to the community is
shown by a self-explanatory letter, which follows. We have
turned this letter over for reply to the secretary of the Cham
ber of Commerce. We have no concern as to real estate trans
actions. Our mission is to do constructive work and invite new
enterprises to come among us.
Seattle, Wash., Jan. 10, 1917.
The Editor Anchorage Daily Times: Dear Sir—I read
in one of your editorials some time ago, about there being
a good chance for another laundry in Anchorage. 1 have
been in the laundry business for a number of years, in Ore
gon. and am going to ship a first-class modem laundry into
Anchorage in the spring.
Could you advise me as to the population of Anchor
age, number of hand laundries there, etc. ? I understand
there is one steam laundry there.
I also would like to know the name of some reliable real
estate firm. Would like to get a central location.
Thanking you in advance for vour favor, I am.
Yours truly, M. O’CONNOR.
5531 Woodlawn Ave., Seattle. Wn.
“The Store That Has What Y on Want—When Yon Want It.’’
Loussac’s Daily Gossip
SATURDAY, FEBRUARY 3,1917.
Vol. 1. No. 169 ANCHORAGE, ALASKA, 4th and D
AGENTS AND DISTRIBUTORS
EASTMAN AND ANSCO
Cameras, Kodaks, Films and Supplies.
VICTOR
Phonographs and Records. The largest assortment in
Alaska.
WATERMANS
Ideal,
CONKLIN
Non-Leakable, and
MOOER’S
Fountain Pens.
LIBBEY’S
Cut Glass.
UNIVERSAL
Electric Percolators and Chafing Dishes.
THERMOS
Bottles.
WILLSON
Goggles, Zylbex Protective Glass. “The Glass of Distinc
tion.”
San-Tox, Nyal and A. D. S. Products.
Parke, Davis & Co., II. K. Mulford, and Squibb supply ns
with chemicals and Pharmaceuticals.
Z. J. LOUSSAC’S '
“Stores That Have What You Want—When You Want It.”
4th and D St.
PHONE 100-R
Immediate Delivery
4th and H St.
PHONE 62-Y
MEET ME FACE TO FACE
FILMS, KODAKS, PHOTO SUPPLIES, FRAMING,
ENLARGING, KODAK FINISHING.
Developing 15c Prints 3c Up.
Mail Orders Given Prompt Attention.
“THAT MAN LOGEMANN”
! Now at 4th and G.
Feb. 1st, 4th Bet. £ and F i
|^mH~M<**********
|lH.»WW'H4WHW*44W44WHWWWW»M»l
Alaska Pool Roou
Fourth Ave., Near D.
Cigars, Tobaccos, Candies, Soft Drinks, Fruits, Concord
Grape Juice.
MUSIC
*+*•*
JOSEPH SCHMITBAUER.
Proprietor.
I
t
New Matanuska Hotel
MATANUSKA JUNCTION.
_ M. J. ROCHE, Prop._
CAFE IN CONNECTION
A. LYALL, Prop.
Tex Jones R. C. Jeffery
The Panhandle
CIGARS
CANDIES
TOBACCOS
FRUIT
NUTS
4th AVE. NEAR C STREET
CITY AUTO SERVICE.
Phone 89-R.
FOR AUTOMOBILE
Any hour of the Day or
Night.
OFFICE—Next door to New
Labor Hall.
A 19-year-old wife has turned her
17-year-old husband back to the juve
nile court to ripen. It is marriages of
| this kind that make a mockery of the
institution.—Portland Oregonian.
Try a Want Ad in The Times.
Fine Job Printing at Times office
Wood and coal delivered to any
part of the city. Phone 43-Y. Uni
versal Taxi and Transfer. f 125
W H°ust of Features J
SATURDAY (ONLY) FEBRUARY 3.
EDWARD ABELES
IN , ,
‘THE MILLION”
A Thrilling Mystery Farce With As Many Laughs as the
7 1, Tillc-. __
SUNDAY AND MONDAY, FEBRUARY 4 AND 5
ARNOLD DALY
(Ashton-Kirk Investigator) in
“THE HOUSE OF FEAR”
A PATHE GOLD ROOSTER PLAY.
(In Five Parts)
TWO SHOWS EVERY NIGHT.7:30 and 9:00
ANY SEAT ANYWHERE 25c; CHILDREN 10c.
MRS. NINA RICHMOND.Pianiste
MINT GRILL
PHONE 100Y.
HOME OF THE HOT PLATTER
WE SERVE MEXICAN CHILI CON CARNE
AND CHICKEN TAMALES.
City Drug Store
THE REXALL STORE.
Dr. K. A. KYVIG, Owner.
5th and C i§
The Best and Purest Drugs and the Most Reasonable in
the City.
Victor Phonographs $15.00, $25.00, $50.00.
On Time Payments.
Mi
Iteason No. 1001 is given by a writ- j
er in the Providence Journal, who says |
that inasmuch as the Adamson law i
averted a railroad strike last Septem- i
her and thus saved the citrus crop of
southern California, the grateful or
chardists voted for Wilson and turned
the trick. But shall we therefore say
that Hughes slipped on an orange
peel ?—Aberdeen World.
Greece appears to enjoy the posi
tion of international riddle. And yet
no matter what she does, her posi
tion numbers her among the countries ,
which have been the seat of war.— 1
Lynn (Mass.) News.
Jk,
3 IN 1 LAUNDRY
AND BATHS
Now Reopened on the New
Premises.
Between G and H on nth Ave.
Next to Harry Cribb.
P. H. BINGSTAD - Prop.
It was to be expected that the Teu
tonic drive in Roumania would strip
a gear when it struck that thick un
derbrush of names like Gherghitza and
Chiuinitza.—Seattle P.-l.
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*****
A
Dohrmann - - Herning & Co.
BUILDERS’ HARDWARE
TOOLS AND SPORTING GOODS.
HOUSEHOLD FURNISHINGS.
PHONE 76R. J
■+*++4"J.++++
ONLY A FEW DAYS MORE OF
REMOVAL SALE .
We will be located in our new store in the Masonic building by the 15th, so are
making a deeper reduction. Have a few more suits of styles that will be in vogue
throughout the ensuing year, tailored and fur trimmed, in broadcloth, gabardine, serge
and twede. These are original, distinctive suits at such a tremendous saving you
can’t afford to miss this oportunity. A few more of this season’s style coats at cost.
Former values of afternoon and evening dresses absolutely lost. Silk Petticoats at
one-fourth off. All art goods, ribbons, pocket-books, etc., at one-fourth off.
COURTESY AND QUALITY OUR MOTTO.
The Style Shop
Corner Fourth and C