THE MORNING QREGONIAN, THURSDAY, JULY 2, 1903.
FIRE LOSSES
Insurance Companies
1 Pay Out $4,500,000.
PASSSIXUNLUGKY MONTHS
Last Years Losses Exceeded
by $2,500,000.
UHDERWRITERSARECOfiCERNED
So Cause for Enormona Destruction
of Pacific Coat Property, Excep.t
"la.r of Average"-Lines Are
Reduced, Ills Us Scattered.
PACIFIC COAST IXSUIUO'CD
LOSSES.
January $ SS5.T2X
Pebruary 650.854
March 009.777
April 638,307
Har 657.CW
Total v
Total first fire months 1902.
..53.949.352
..$1,605,000
Fire has destroyed an enormoue amount
of property on the Pacific Coast in tho
past six months. The losses to Insurance
companies are beyond 54.000.000. They ex
ceed last year's losses at this time by
$2,500,000. These are only Insurance
losses; the property losses are much
greater.
Underwriters are very much concerned.
The ratio of losses to premiums, of many
companies, has reached 100 per cent or
more. Several local agents said yester
day that the losses which their com
panies have had to pay in the past six
months have exceeded the premiums of
that period. One agent declared that his
losses had already eaten up his premiums
of the entire year. "And coodness
knows," he exclaimed, throwing up his
hands, "how much more of our money
will go up in smoke before the year Is
out. Our los3 ratio in Oregon already Is
150 per cent; from the looks of things it
will go to 250 per cent. "We've got not
only to carry our policy-holders for the
next six months for nothing, but pay for
whatever happens to them."
"liOts of us fellows." spoke up a fel
low agent, "are 1n the same fix. It's
fright, it surely is, and If I were the com
pany I think I'd be tempted to put up
the blinds."
A normal loss ratio Is between 40 and
50 per cent. The expense ratio of various
companies, that is, tho cost of doing
business, paying taxes, commissions, etc.,
ranges from 40 to 60 per cent" of premiums.
"When a loss ratio gets up to 50 per cent
the company is on the ragged edge be
tween making and losing money. There
fore, when a loss ratio reaches 100 or 150
per cent It means a loss Indeed.
Causes of Heavy Losses.
Varying causes are ascribed for tho
great destruction which Are has dono
and is still doing on this coast
"Prosperity," "was the reason of sev
eral insurance men yesterday.. "Care
lessness." "incendiarism" and "moral
hazard" were other reasons. But phllo
sophlc underwriters go back of all this.
To them there is a more ultimate cause,
the mystical "law of averages," which
comes from sun spots, p6rhaps, or the
man In the moon, or the nebula of Orion.
"The law of general average," remarked
E. It. Thompson yesterday, of Hartman,
Thompson & Powers, "regulates fire and
insurance the same as other phenomena.
Insurance, perhaps more than any other
human institution. Is afflicted by this
law. The public is learning that Insurance
rates must be based upon the studied
operations of this law."
"But what application has all this to
the present occasion?" was asked.
"Just this," -was the response. "These
periods or lire losses go in waves or
rhythms, now augmenting in destructive
ness and then diminishing. They cannot
be explained, but they are all governed
by the law I have Just mentioned. Af
ter a while Use losses will take the down
ward trend again and when they have
pursued that course for a while, reflexive
turn wjll follow.
"When fires are few and premiums
seem unduly high the public should re
member the law' of averages, and when'
fires are many and premiums do not meet
Josses, it is for the companies to bear this
In mind. In other words. Insurance rates
should cover the expense ratio and the
conflagration hazard and be determined
by the law of general average. Rates are
determined in these several relations as
nearly as human knowledge permits."
Prosperity Not Responsible.
"Hasn't prosperity something to do.
with the many recent fires?" was asked.
"Not at alL Did prosperity burn up
Irving dock or the Western lumber mill
on ;the water front? Did it make the fire,
that burned off the top of Dekum build
ing? I think not, and my opinion is the
same about all the fires on the coast."
The exponents of "averages" point out
that in the' past eight years insurance
business' on the Pacific Coast has been
making money while in other parts of the
United States it has been losing. The in
crease of losses in the East has been
very great and rates have been advanced
to compensate, tjut on this Coast the
general average of rates has not been
raised. "Wise Insurance experts have
been prophesying that the agencies of de
. etructlon which have been operating in
the East would surely come this way to
consume the profits which have been en
Joyed on the Pacific slope.
These prophecies seem to be turning
true. Nearly all the companies on this
Coast have had to draw on their home
offices for money to meet their losses.
"It's the law of averages," said J.
t Harvey O'Bryan. of Clemens & O'Bryan,
"that's asserting itself. Hollo V. "Watt,
general manager of the Royal at San
Francisco, Is one of the men who have
"predicted all along ihat this would come
to pass. The companies have made money
on this Coast, but what they have earned
is fast dwindling now. The profits of
eight years may easily be consumed by
two years of bad business. Competition is
keen and margins are narrow and are'
wiped out very soon by adversity."
"Will Rates Be Increased!
"Will rates be Increased? This question
is trying the souls of a good many people.
In Portland the cost of insurance on
some classes of property has been raised
in tho past year, but on others it has
been reduced. Underwriters say that the
. general level of rates here Is the same as
it has been.
"Three weeks ago," remarked a local
agent yesterday, "I called upon the man
ager of a company -which writes A. big
business on this Coast, vun mm were
the managers of three other leading com
panies. They were very much concerned,
by their great losses. Their loss .ratios
for the past six months were aleady
Aouble the normal, and still fire was de
vouring property and they were telling out
the money. No, they did not contemplate
an advance In rates as a recourse. But
their 'minds -would undoubtedly turn that
way should losses keep up their present
pace into next year."
Companies Grow Caution.
Meanwhile companies are canceling
bad risks and writing new ones with ex
treme caution. They are scattering their
risks as best they can and reducing their
lines. For about a year they have pur
sued these tactics in Portland, beginning
even before the present run of losses
had become general over the Coast They
have been chary of Portland's water
front, but they have sustained heavy
losses at other cities where "unprotected
water-front" was not a hazard.
But there are some Insurance men who,
recognizing the mystical "averages," look
for more palpable causes of fire. Pros
perity is to them the reason of the in-'
creased losses. "Property-owners, said
"W. J. Clemens, of Clemens & O'Bryan,
"don't guard against fire as In hard times.
They rush around all day at their busi
ness and neglect to take precautions about
which they are very careful when business
lags. In such prosperous times as theso
a man may burn out and yet start up his
business again almost on nothing. But
when times are hard a. man Is bent on
saving all he's got; he doesn't dare to let
fire get at him."
May Have to Change System.
Mr. Clemens .believes that companies.
soon or late, will have to resort to a new
system of proportionate insurance to pro
tect themselves. "The way to reduce
losses," he remarked, "is to fix the basis
rate at say 80 or 90 per cent of the value
of property Insured, and to grade up the
rates as the percentage of insurance di
minishes. This system would be Just
ODDOsite to the one now In use. It nwuld
increase premium receipts and at the J&me
time give policy-holders more protection
and would distribute losses among tne
companies more than at present The
Dekum building was insured at $100,000
and the companies had to pay the full
Insurance. But If it had been insured at
$200,000 the loss would not have fallen on
the individual companies as it has done.
A property Insured up close to its value
is a better risk than if it were Insured to
only a small fraction of its value. The
companies will come to this method by
and by. I'm Quite confident Instead of
allowing reduced rates for heavy insur-
ance, they will grade rates up from the
basis I have suggested. It used to be that
a property would be Insured to only 75
per cent of Its value, the theory being
that the owner should carry the otlwr 23
per cent But wo ste now that this
theory Is not the best practice."
Prosperity Causes Fires.
J. D. Colqman thinks that tbj hurry
and rush and overcrowding of business
following prosperity are to be taken Into
account in the quest for causes. "We
have refused to write Insurance on cer
tain places of business," said he, "which
are overworked or overrushed. The fact
is that property-owners and businessmen
under such circumstances forget or neg
lect to guard against Are with that vigi
lance which they exercise when business
is slack. Then, too, hazards are con
stantly increasing, and, though under
writers endeavor to surround them with
safeguards, results show that they miss
their purpose pretty often. Underwriters
generally think that they understand how
to deal with the hazards that are arising
with improvements and inventions, but
the truth is that their true nature is hard
to learn and understand. The growing
use of electricity and gasoline and acety
line Is hedged about with all manner of
safeguards, yet It keeps making losses
all the time."
Mr. Coleman proceeded .to show ,that
fire insurance had not been, a paying
business in the United States in the first
decade. "Not more than 10," said he, "out
of the 60 leading companies In this coun
try have made as much as li per cent
profit per year In writing insurance."
"And the 60 companies' spoke up an
underwriter, "taken all together, have
earned only per cent profit per an
num In the past 10 years. Pacific Coast
business has been profitable until the
past year, but only one-tenth of the In
surance of the United States is written
on this Coast The losses In Oregon in
the past six months already exceed the
premiums of that period, and the months
of greatest losses are yet to come."
"The May losses In Oregon," went on
Mr. Coleman, "amounted to 60 per cent
of premiums. The losses In March were
over six times as great Under normal
conditions we should regard May as a
very bad month."
Incendiarism Is Frequent.
A prominent writer of Insurance, who
desired to have his Identity withheld, in
sisted that incendiarism was to blame. "I
may say," he remarked, "that 90 per cent
of the losses are from incendiary fires. I
don't mean that 90 per cent of the num
ber of risks turn out that way; you see
it is the big risks which are profitable to
burn. I call It negative Incendiarism
when a man doesn't actually set a fire
himself, but allows his building to catch
fire In ways that can't be ascertained by
the underwriters. When a congregation
of pious persons needs a new church be
cause th.e old church is small and dingy
and is insured and would make a good
blaze; when some good brother makes a
roaring fire In the church stove and isn't
careful to remove waste paper from
around the stove; when be goes off and
the fire gets out of the stove and burns
up the church that's negative lncendlar
Ism.
"There are lots of seemingly safe risks
in this town, but I wouldn't insure them
not L I don't trust the owners of the
property. They may not wish to burn
things up, but if they could they would.
That's where the moral hazard comes In.
No, there Isn't any premium that will off
set the moral hazard except 100 per cent
or over. A man . came to me tho other
day for a policy. Would I insure him?
Certainly. For what premium? One
hundred and five per cent That's what I
told him, but he didn't want the policy."
Expensive Fires of 1003.
The following are some of the most ex
pensive fires that 'nave occurred on this
Coast in the first Ave months of 1903, as
given by the Coast Review:
January.
, Insurance
, Loss.
4 Honolulu stock dry goods $ 65.000
19 Dayton, Wash 16,649
22 Boise, building and stock 15,600
21 Sacramento, department store.... 399,401
February.
'4 Cottonwood,. CaL. general mer
chandise 12,200
5 Oakland, stock, merchandise.. 11,040
5 San Francisco, retail store and
contents 54.189
5 San Francisco, merchandise. . 11,780
11 Saltiiake, general fire 212.464
IS San Mateo, hotel , 18,193
March.
3 Portland, general fire 176.457
6 Falrhaven, sawmill 20,829
10 Tacoma, warehouse and contents. 14,417
10 Portland, general fire 256,095
12 San Francisco 12,835
15 Denver, foundry 18,865
22 Seattle, brick building and con
tents . , 47.7SSH
23 uneyenne. loagmg-nouse io,490
25 Canyon City, Colo., mining plant 25,250
. ApriL
5 Dunsmulr, general fire 6L3S7
5 Pleasanton, CaL, warehouse 21,776
16 Dos Angeles, furniture factors.... 12.000
19 Tacoma, packing-house 97,246
20 Butte, brick block and contents... 11,474.
23 Fortiana, warenouse 13,667
27 Helena, brick- building and con
tents 42,700
May.
1 Centralia 10.814
1 Portland, sawmill 50,000
3 Sacramento, omiaing ana Hard
ware S1.40S
7 San Francisco; flour mill 27,256
S Stockton, general fire 62,107
15 Harrison. Idaho, plarrmg-mlll..... 13,500
SO Burke, Idaho, raining plant. . 14.1Q0
20 Red Bluff! reaeral fire
20 Stockton, brick building and stock 64,711
25 Sacramento, dredger 17,500
Insurance Lasses Paid.
-The following Insurance losses have been
paid, as compiled by the Coast Review:
Wfufa-
, Oregon.
January 37.76S
February v.. 18,587
March '. 487,128
April 60,408
May 75,650
California.
January $569,844
February 250,468
March 111.862
lngtonT
$ GO.SOa
48,651
163,484
1S6.96S
47.310
Idaho.
$ 24,294
9.046
2.953
. 7,188
35,604
Montana.
$ 31,663
35.023
28,313
82.597
25,067
April 247.245
May 593,115
Utah.
January' $ 2.289
February 257.91S
March 7,556
April 6.9S3
May 19,659
r
British
Colorado. Columbia,
January ..$ 25,929
February 13,659
March 78,230
April 2LS64
May .-. '3446
8,171
2.503
2,512
3,303
8,122
TO PROTECT THE GAME.
Ifeir Warden J. "W. Balcer Announces
His PoUcy.
That the violators of tho game laws
may be caught red-handed and off their
guard, the Deputy Game Wardens
throughout the state will not be an
nounced by the new protector of Oregon's
game, J. W. Baker, of Cottage Grove,
who assumed the office yestefday.
"I have selected my deputies and will
announce the name of the Portland rep
resentative before long," said Mr. Baker
yesterday. "As to the men. out in the
country, I am going to try a new dodge
on the people who break the laws. If
they don't know the Deputy Wardens, or
where they are situated, they will not be
so cautious, and can the more easily be
caught I believe that many offenders
can be found In this way, and every one
to whom I have mentioned It agree It is
a good scheme. -
"The law allows me only six deputies,
and they cannot receive more than $250
a year, so you see we have to plan how
to make the most of what the law allows
us. The railroads will not give transpor
tation to my deputies, so I will have to
do all of the traveling myself. Some one
must be In Portland much of the time to
watch the markets, but this will not pre
vent the killing of the birds. Of course,
if birds are found In the markets during
the close season, the man who sells them
can be punished, but the killing will go
on Just the same. Therefore, It will be
necessary to have some one out in the
country near Portland a part of the
time.
"Since receiving my appointment in
April I have gone over that part of the
state In. which most of the violations occur-
The deputies have been selected, and
when the shooting of upland birds be
gins in August we will start out to cap
ture the lawbreakers and bring them to
Justice."
"In what part of the state does the
most violation exist?"
"In Southern Oregon, particularly in
Jackson and Josephine Counties. I know
of parties who have hired men to hunt
deer, paying them 40 cents each for the
hides. These men are provided with am
munition, and have the venison for them
selves. I know of one man who hunts for
himself. He has killed as many as 23 deer
in a single day, so you see that It Is a
paying business. Not only as regards
deer, but as to the other gamo also,
Southern Oregon Is the worst offender.
If the men who do the Illegal shooting
do not learn who my deputies are, I be
lieve that we can catch several of them
In a bunch and teach them a severe les
son.
"I have learned of a number of cases
already, and the offenders are known.
Besides Southern Oregon, a great deal of
the shooting during tho closed season Is
done In the Willamette Valley. Many
complaints are received from the Valley
country as to shooting Chinese pheas-
.ants out of season, -while In Southern
Oregon there is much illegal killing of
larger game. The pheasants are, to be
protected, and the complaints will be
thoroughly Investigated. Often those
who complain tell their name In tho
strictest confidence, as several who were
known to write to the Game Warden
have got Into trouble with their neigh
bors, who suspected them of informing
directly upon them."
"Wll your principal office be in Cottage
Grove, Mr. Baker;
"Yes, for the present at least I am
going out to McMlnnvlllo this afternoon,
and will return to Portland la about two
weeks."
POSTAL BUSINESS GROWS
Increase
of Twenty-Five Per
Last Quarter. '
Cent
The receipts of the Portland Postoffice
from the sales of stamps, stamped enve
lopes, postal cards, etc, continue to show
an increase from month to month, and
quarter to quarter, which Is gratifying to
Postmaster Bancroft and the public gen
erally, as showing that the city is thriv
ing. The receipts for June amounted to'
$25,853.73, as compared with. $20,444.14 for
the corresponding month of last year, an
Increase of $5409.59. The receipts and in
crease for the quarter ending June 30, 1902
and 1903, were as follows:
1902. 1903. Increase.
April $22,715.07 $27,323.26 $ 4,608.19
May 21,708.07 26,355.05 4,645,98
Juno 20.444.14 25.853.73 5.409:59
Totals $64,867.28 $79,532.04 $14,664.76
From the rush with which, business for
the new quarter started yesterday, the
probability Is that tho receipts of the
office for this month will bo larger than
ever before. There Is always a large mall
on the 1st of the month, but yesterday It
was larger than usual, both local and
from the East
In anticipation of this, Postmaster Ban
croft had ordered all hands to be on deck
at 6:30 A. M. Five new carriers and four
new clerks were added to tho force yes
terday, and Superintendent Barrat and As
sistant Superintendent Dee both pulled off
their coats and Joined In helping to dis
tribute the mall. When Postmaster Ban
croft arrived at 7:30 A. M., all hands were
literally up to their eyes in business, every
alley being piled with mall. A case was
placed on 'the porch at the rear of the
office, where one man was running an out
side department By noon they had the
morning raalKpretty well distributed and
sent out and were ready to attack the
later arrivals, which had accumulated In
a huge pile on the porch. The new em
ployes got a good start in business, and
were able to see that there was plenty of
work for them. Postmaster Bancroft was
convinced that "he must not cease making
applications for more clerks and carriers.
and hopes to be allowed a lot more by the
beginning of next quarter.
Lodcll's License Revoked.
The Council committee on liquor li
censes held a special Tapld-fire meeting
yesterday at 1 o'clock and revoked the
saloon license of A. C. Lodell, of Union
avenuo and Morris street. At the teg-
ular meeting on Friday last a protest
against Dodell's place first came up, but
as he -was not on hand to give his side of
the matter It was decided to hold a spe
cial meeting. He put In an appearance
yesterday, but there seemed to be no
good reason why he should continue to
dispense liquor, and his license was re
voked.
SHAKE INTO YOUR SHOES.
Alton's Foot-Ease, a powaer. It cures pain
ful, sntaxtlnff. nervous feet and inrrowlnr
nails, and instantly takes the stln out of
corns and bunions. It's Use greatest comfort
discovery of the age. Allen's Foot-Ease makes
tltfct or new shoes reel easy. It Is a certain,
cure for sweating-, callous and hot, tired, ach
Injr feet. Try It today. Sold brail drulsts
and shoe stores. By .jnall tor 25c In stamps.
Trial paekagre FREE. Address. Allen S. Olm
ttd, Boy, 5. X,
..Meier & Frank Company..
Largest and Best Line of Hammocks in the City.
Refrigerators, Fruit Jars, Lawn Mowers, Garden Hose, Water Coolers, Ice Cream Freezers, Etc. Basement.
Artistic Picture Framing to your order Largest and Best Line of Moldings Lowest Prices Second Floor.
"Vudor Porch Shades, 4, 6, 8, IO-ft. sizes Better, cheaper than Bamboo Complete, ready for hanging 3d Floor.
Store closed all
Vacation Trunk
25 Canvas-covered Trunks, iron bound, heavy steel corners, two
heavy leather straps, brass lock, just the right style of trunk for coast use.
Five sizes, all at special low prices.
28-inch Regular price $6.40, sale price ' $5.29
30-inch Regular price $6.75, sale price - $5.55
32-inch Regular price $7.10, sale price $5.93
34-inch Regular price $7.45, sale price $6.27
36-inch Regular price $7.80, sale price - $6.57
If you're going on a long Eastern trip here's a trunk that will stand all the
rough handling the baggage smasher can give it. Heavily constructed, all the best
and latest improvements, four sizes, all greatly reduced.
30-in Regular. $10.50, sale price
34-in Regular $12.00, sale price
1 2U nanasome bteamer irunKs, steel bound, leather straps,
three sizes, at special low prices 30-inch, 32-inch, 34-inch.
$7.75 value for $6.35. $8.25 value for .. $6.90. $8.75 value for $7.67
Ladies' Neckwear
Crepe Silk Stock Ties in all colors,
superb styles, selling regu- er
larly at 75c ea., sale price C
Ladies' Collar and Cuff Sets in white
and colors, regular 50c and AXf
65c values, while they last. . .rOC
Ladies' 4-inch Hand Ties with em
broidered ends, regular 50c o
values, your choice, each ...w3C
Veilings
Nose Veils, beautiful tuxedo meshes,
in large variety, black, white and
colors, special for 3 days, p
50c value, at, veil C
300 Chiffon Veils for hat drapes,
fancy borders, many styles and
combinations Regular
$1.00 value, at
A great lot of Tuxedo-Mesh
in the dots and plain styles,
at
Cloak Department
$6.50
$250
$8.50
$6.50, $7.00 and $7.50 Walking Skirts. . . .$4.85 .
Entire stock of Silk and Cashmere Tea Gowns greatly
reduced. Second floor.
Underwear
Ladies low-neck sleeveless rib
bed Vests, plain or drop
stitch'bodies, all sizes, very
special at
12c each
Ladies' low-neck sleeveless rib
bed Vests, lace trimmed,
' white, all sizes, great bargain-
27c each
Children's Summer Underwear
All sizes and styles at the
lowest prices.
Special values-in all lines
of Boys' Clothing Second
tloor.
Meier & Frank Company
day, Saturday July 4th
Particularly pre-eminent is this store in its
showing of traveling necessities A glimpse at
the Fifth-street window display or a visit to
the department will give you an inkling of the
amplitude of resources The following values
demand the attention of .every buyer.
$8.50 Suit Cases $6.98
Fuil stock Leather Suit Cases, sewed edge, finest
lock, leather lined, best brass, trim- C? r q
mings, regular $8.50 value, choice at Mv.7U
Full stock Leather Suit Case, fine brass trim
mings, regular $7.25 Suit Case, your tf c oq
choice for iOJ7
$8.77.
$9.87.
32-in Regular $11.25,
36-in Regular $12.75,
Veils
j
Decided reductions in the Cloak
Department on all seasonable wear
ing apparel. Suitsi Waists, Walking
Skirts, high-class Costumes and Nov
elty Wraps are all included.
$14.00 and $16.00 Suits. .$ 8.85
$ 18.00 and $20.00 Suits. . 13.85
$22.00 and $22.50 Suits . . 1 5.85
$27.00 and $32.00 Suits . . 1 9.85
All suits up to $100.00 reduced
in same proportion.
Our entire stock of Silk Waists
at special low prices.
Waists
Waists
Waists
$4.55
$5.95
$6.55
Waists up to $30.00 reduced in
same proportion.
$22.50
Meier &. Frank Company
..Meier b Frank Company..
Gating Goods of Every Description at the Lowest Prices.
Sale
sale price $9.35
sale price 10.53
all canvas lined,
Friday Surprise
$10.00 Etamine Dress Skirts, $5.85
A remarkable offering of high-class Dress Skirts from
the best manufacturer in the land comprises the
grand bargain for the 715th Friday Surprise Sale.
Exactly 145 skirts in the lot three shades of blue
and black etamines, wire" cloths and granite cloths,
just the fabrics that find favor with the best dress-
ers nowadays. All are the latest style dress skirt,
tucked, silk band trimmed or plain skirts that we
have sold hundreds of at
$10.00 each, for tomorrow
only at the wonderfully
low price of -..
See Fifth-Street
Vacation sale fine stationery. Prices greatly reduced
Special values in Lace Curtains, Rugs and Curtain Mate
rials. Third floor.
Great values in Muslin Underwear, Ribbons, Neckwear
and Leather Goods.
Men's Furnishings
Bargains in Men's wear. Every
item something you need or will
need. The saving urges prompt
buying.
Men's colored-bosom Shirts, the
$1.00 styles in good pat- fLQ
terns and all sizes at
Men's Golf Shirts, new stripes and
colorings, all sizes,, great Al.
values at, each
-TJ
Men's Half-Hose, broken
neat stripes and patterns,
all sizes, at, pair
lines,
He
Men's Silk Bat-Wing Ties, the best patterns and color
orings, 25c values, each
Men's 25c Suspenders, good quality, at the low price,
per pair
Men's Mercerized Striped Summer Underwear, shirts
or drawers, at
Men's Clothing Values
The best Clothing for men in town at the most reasonable
prices These values must interest every man who has Clothing
to supply. .
Men's all-wool Trousers in striped Flannels, belt straps, and turn
up bottom, all sizes The correct style summer or tf Q A
outing pants, pair CJ
Men's Outing Suits in all-wool flannels, neat stripes, Trousers
made with belt straps and turn-up bottom, regular & O f(
$10.00 values at pJmJJ
Men's fine all-wool blue serge suits in single or (j 1 C
. double breasted styles, regular $15.00 suits......... P &mJJ
Men's, extra fine quality blue serge Suits in single or double breast-
J . 1 ' C 1 . .1 1 C i. .nm.ln. "S L dk SB
ea siyies, nneiy tanorea, pencil muug, ls&uiai I M O
values at.
Meier &. Frank dompany
Store closed all day
Saturday, July 4.
SHOE
Bargains
Opportunity to sup
ply shoe needs at a
big: savinjf. Today's
bnrKnln list includes
liigli-claxs foot-wear
for man, vroman or
l)Oj- priced below
the cost of manufacturing.
$3 Shoes $2.37 Pair Ladies' Dress Shoes,
patent colt and patent calf, very best style
toe, all sizes, the regular $3 val
ues at the special price of, pair 4"
$5, $6 Shoes $3.85 pair Men's French,
Shriner & Urner Shoes in patent kid, pat
ent calf, black Russia, velour calf, Shoes
or Oxfords, all sizes, regular $5 C
and $6 values, pair pUJ
Little gents' vici kid and satin calf Shoes,
spring heel, sizes 10 to 131, CI 07
your choice at the low price, pr V
Hosiery Offerings
Three unusual values in
ladies' and children's Hose
for today and tomorrow
All sizes Very best styles,
tempting values
Ladies' fine black cotton
Hose, three-quarter l'gth,
extra wide tops, all sizes,
the regular 50o
values at 33c Pr
500 pairs of Ladies' SI all
over Lace Hose in black,
fine quality, many styles,
all sizes, regu-
lar SL00 value 49c Pr
Children's fine ribbed Hose, extra qualily,
all sizes, great value 14c Pr
$5.85
window display.
10c
18c
39c
w r
Meier & Frank Company
1