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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Oct. 28, 1907)
3 FINANCIERS SEE DAYLIGHT AHEAD Distress of Past Week Giving Way.to Safe and Sane , Solutions. CALM SUNDAY IN NEW YORK Tension Eased on Overwrought Nerves Clearing-House Pre pares to Substitute- Loan Cer tificates in Iiien of Cash. NEW YORK. Oct. 27. The feeling among banking authorities tonight Is that united action and wise counsels have al ready accomplished much In providing a solution for the financial problem with which they have been called on to deal during the past week, and that with rem edial plans now further perfected the promise Is strong for the uninterrupted maintenance of financial stability. Today was marked by the usual Sun day oalm which gave the financial lead ers an opportunity to ease the tension of overwrought nerves experienced dur ing the past week. Most of them re mained at home througho.it the day and there was a noticeable absence of the hurried conferences of recent days. The departure of Secretary Cortelyou for Washington removed a conspicuous figure from the financial district, but It waa felt that with President Roosevelt's strong support, as expressed in his letter ; roaae pumic last nigm, jnr. ioneiyou a presence In Washington was favorable to such further Government assistance as might be required. In the churches many of the sermons were marked by references to the finan cial situation, Rev. Donald Mackay, at the Church of St. Nicholas, dealing at length with the subject, and Monslgnor LeveJle also taking a similar text at St. Patrick's Cathedral. These and other sermons were notable for their strong counsel toward public calm. Clea ring-House Active. At the clearing-house there was much evidence of activity In preparation for the Issuance of loan certificates. This, how ever, was confined to subordinates, as the loan committee which Is to pass upon collateral offered for the certificates did not hold & formal session. Another evi dence of activity was the small knot of people gathered at eome of the Institu tions where runs- were in progress last week, waiting for advantageous positions on the opening of business tomorrow. The Indications are that banking in stitutions will not pay out large sums in currency tomorrow, except to meet legiti mate requirement of their clients for current business. It has long been the practice of trust companies and some of the smaller banks In meeting checks for considerable amounts to draw checks upon the National banks with which their reserves are kept. If they pursue this policy tomorrow and until the end of the present crisis. It will not be a departure from their usual practice. Such checks under ordinary circumstances are preferred-to currency., and 4f -currency Is de manded in unusual amounts it will be refused unless evidence Is given that It Is required in good faith and for other purposes than hoarding, to prevent which 1 the main purpose of this step. Cur rency will be paid on small checks as de sired and to provide funds for payrolls and other legitimate and ordinary UBes. Adopt Plan of 1908. It may be thought advisable to stamp checks "payable through clearing-house," as was done in 1S93. The suspension of currency payments at that time extended to all the banks and also the trust com panies, which were then a comparatively small factor in the situation. Little if any inconvenience resulted from the pay ment by checks Instead of currency ex cept in cases where there was a special need for currency. Currency at that time went to a premium of a fraction of ona per cent and in some cases a full 1 per cent. This was Sue to the fact that currency was refused even for payrolls, for the use of retail shops and for other purposes for which it was required. It Is believed that the situation will not be acute on this occasion and that currency can be paid where It Is required for legi timate business purposes and not for hoarding. This system of check credit will operate in the usual manner and there will be no Inconvenience to the man Who does not make special effort to ob tain currency. The checks drawn In payment of current obligations will be re ceived for deposit by any bank and .re deemed through the clearing-house in the usual manner, except that clearing-house balances against the banks will be settled In clearing-house loan certificates instead of currency. A man having a bank ac count will have checks put to his credit as usual and can draw against them freely without interruption in the course of his relations with the banks. It is not believed that the dearth of currency will be such as to prevent those requiring small amounts or not having a regular bank account, from obtaining it Issued Loan Certificates. It was found in 1893 that while cur rency went to a slight premium in cer tain cases, the public generally accepted the suspension of currancy payments with equanimity. Runs upon banks ceased because the object of such runs, namely, to lock up currency, was defeated by the decision to pay only In checks ac ceptable to the clearing-house. A large force of clerks were at the clearing-house today preparing for the Issuance of loan 'certificates tomorrow. These are in $5000, $10,000 and $20,000 de nominations, and In the form: "This certifies that the (name of bank) has de posited with this committee securities in accordance with the provisions of a meet ing of the association upon which this certificate is Issued. This certificate will be received in payment of balances for the sum of $5000 from any member of the Clearing-House Association. On the surrender of this certificate by depositing bank above named, the committee will indorse the amount as a payment on the obligations of said bank, held by them and surrender a proportionate share of the collateral securities held thereunder." This is the form as used In 1S93, when these certificates were last, used. At that time the certificates were of great bene fit and aided materially In clearing the very serious situation then existing. In this connection. New York bankers com mended the action of outside cities In adopting the same plan for the protec tion of their supplies of. cash. They foresee that this will greatly relieve the strain at outside points, permitting them to use the certificates In place of cash, and also having the salutary effect of keeping down the drain of outside cen ters upon New York. When New York adopted the certificates In 1893 the sys tem became almost universal throughout the country, and everywhere the result was beneficial. Merely Matter of Money. One prominent banker pointed out that it could not be brought to the attention of the country at large too strongly that the present situation is one dealing solely with the supplies of currency, and that neither the business credit of the Nation nor Its industrial and agricultural pros perity is affected. . Situation In" Chicago. CHICAGO. Oct. 27. Financiers and bankers of Chicago tonight look for ward with hopefulness to the probable continuance of the present financial solvency of Chicago banks and trust companies, basing their expectation on the protective measures taken by the Clearing-Houso Association last night. In ordering the Issuance of clearing house certificate, and the putting In force of the legal notice that may be required for the withdrawal of savings banks deposits. Chicago bankers are discouraging speculation In shocks and grain, and they predict that dealings in such Investments during the week will be scant, as far as Chicago Is con cerned. Normal In Quaker City. PHILADELPHIA, Oct. 27. The con sensus of opinion among the leading bankers of this city is that the flurry in New York financial circles has spent its force, and that tomorrow will find the financial condition in this city practi cally normal. Members of the local clearing-house, at a meeting held last night, decided to issue loan certificates tomorrow, an action which the bankers state was taken as a precautionary measure. Reno Banks Will Reopen. RENO, Nev., Oct. 27. Every one of the five banks In Reno which have been closed since Wednesday will be open for business tomorrow, although the Gover nor has proclaimed a holiday to Novem ber 1 BARGAINS IN Ml STOCK PANIC SENDS GOXDFIELD'S BEST DOWN TO BEDROCK. Best Dividend-Payers in Nevada Al- most Given Away Because of No Money to Buy Them. SAN FRANCISCO, fal.. Oct, 27.-(Spe-cial.) Nevada mining stocks touched bot tom on the Bush-Street Exchange yester day. Dividend-paying stocks fell to ridicu lous figures and, while the whole street gazed In amazement, there was no one brave enough to plunge. Fortunes have been swept away by the millions, but cool heads predict a speedy rebound as soon as the alarm is over. United States Senator Nixon, of Neva da, sent a message to the mining Stock Board concerning the Intentions of the directors of the Goldfield Consolidated Mines In regard to the declaration, of the monthly dividend at the meeting of the directors to be held in Goldfield on Tues day. The substance of this was that e cents a share would be paid January 25 next, this amounting to the regular divi dend for two months and a half. The condition of the money market was gen erally understood to be the reason for waiting until January to pay the next dividend. By January 25 the atmos phere will be clear, in all probability, in a financial way. With one dividend paid and with others In view, the price of Goldfield mines might naturally have been expected to rise. On a basis of $4 a share, which was about the price yesterday on the average, the rate of dividend is 30 per cent per annum. A couple of months ago the Gold field Consolidated - was selling at $11 a share. It Is paying 10c a month dividend. Some merger shares were sold as high as $4.10, some as low as $3.92. The closing quotations for Goldfield Consoli dated Mines were $4 bid and $4.02 asked. Altogether about 20.000 shares of Gold field Consolidated Mines changed owners yesterday. This was a far greater sale in total than befell the other compara tively largely sold shares. Jim Butler kales amounted to more than 11,000 shares, Florence Extension to about the same amount, Columbia Mountain went out to the extent of 15,000 shares. The other shares were less In evidence in the trans actions of the last day of a stormy and eventful week in mining stocks. The gale that, has blown through the street in the last week, like those In na ture, pressed the more prominent objects hard and allowed those of comparatively less importance relative Immunity. The list of those that are generally classed as the cheaper stocks was less affected dur ing the final proceedings, but the week's end made a showing of closing prices that would have been unbelievable not many weeks ago. Here are some of the closing bids of yesterday: Columbia Mountain, 15 cents; Blue Bell, 6 cents; Booth. 16 cents; Combination Fraction, 81 cents; Daisy, 52 cents; Dla mondfleld Trlanele, fi cents: Florence, $2.10; Florence Extension, 13 cents; Gold field Consolidated Mines, $4; Goldfield Mining of Nevada, $1; Goldfield Kewanas, 22 cents; Jumbo Extension, 65 cents; La guna, 80 cents; Oro, 8 cents; Redhills, 22 cents; Red Top Extension, 13 cents; Sand storm. 16 cents; Silver Pick, 23 cents; Stives, 30 cents. These are all Goldfield district stocks. In the Tonopahs some of the closing prices were as follows: Belmont, 90 cents: McNamara. 17 cents; Midway, 48 cents; Jim Butler, 41 cents; Montana, $1.30; Tonopah Extension, $1.05; Tonopah of, Nevada. $7.76; West End, 38 cents. There were bargain prices in 'the other districts. When the Bush-street board closed to night, an interesting week loomed ahead. The Goldfield Consolidated Exchange, which was closed when Governor Sparks shut the Nevada banks, may reopen Mon day. The Nevada banks will reopen this week. What effect this will have on prices, the brokers in Bush street would give something handsome to know in ad vance. . . While the prices of Goldfield and other stocks have dropped badly the past week under the peculiar conditions brought into existence, the production of gold at Gold field and at Tonopah has continued. Ac cording to the weekly report that was sent down to Bush street from Goldfield yesterday, the shipments of ore In the past week amounted to 6390 tons valued at $608,920, which is a decrease for the week of $239,200 In value and 1821 tons In' quantity of ore. this being due to the exceptional happenings that have inter fered with all enterprises in Nevada. Baltimore Banks Solid. BALTIMORE, Md., Oct. 27. Recent de pression in financial circles In New York have been without considerable effect here. Money has been tight locally for some time, and a few who have required cash during the past week have been forced to sacrifice first-class securities, but these cases have been few. Local banking institutions are In excellent shape, and Baltimore financiers appear to believe that conditions in New York have passed the worst stage and will now steadily Improve. St. Louis Bankers Optimistic. ST. LOUIS. Mo., Oct. 27 Confidence that their action In voting on the issu ance of the clearing-house certificates would hold financial matters in check until a complete readjustment could be made was, the prevailing sentiment among the leading bankers of St. Louis today, and the prediction was made that the coming week win be better from a banking standpoint than the last has been. SOUNDER TONEIN FINANCIAL WORLD (Continued From Fsk6 1.) the unanimous sentiment of the bank ers of the three cities that the restric tions Imposed would be but temporary, and all agreed that the banks are per fectly solvent. PITTSBURG IS OPTIMISTIC General Belief That Conditions Are - Rapidly Becoming Normal. PITTSBURG. Oct. 27. The financial situation in Pittsburg, notwithstanding a number of surprising and unexpected oc currences during the past few days, is viewed optimistically at the opening ' of the week by, men prominent in financial and ousmess circles. That conditions here have quickly righted themselves owing to the admirable confidence of the people in the financial institutions and that affairs are progressing normally are the expressions contained in statements Issued by the Pittsburg Chamber of Com merce, Pittsburg Clearing-House Asso ciation and Individual bankers and bust ness men. -Whether clearing-house certi ficates will be issued here depends alto gether upon the New York situation. Should conditions there become more acute, the action of issuing certificates will be taken to protect local institutions. As to resuming operations in the Pitts burg stock exchange tomorrow, there are several opinions. No official announce ment has been made, and the matter will not be definitely decided until tomorrow. PROTECTING THE DEPOSITORS Local Situation Strengthened by Indianapolis Clearing-House. INDIANAPOLIS. Ind.. Oct. 27. Al though action was taken late last night by the Indianapolis Clearing-House in connection with the trust companies to protect depositors by issuing clearing house certificates for exchange between the local financial institutions to settle balances, and by the trust companies tak ing advantage of, the law requiring 30 to 60 days' notice before paying depositors, the Indianapolis banks and trust compa nies are in a better and stronger condi tion than at any previous period. Al though not at present feeling the finan cial stress now existing In New York, It was thought best to adopt precautionary measures, hence the action of last night. Local financiers say that the conditions in this city are most encouraging, and no fear of any trouble of any nature ex ists. OHIO HAS PLENTY OF MO.VET Cleveland Bankers Felt No 111 Effect From the Flurry. CLEVELAND, O.. Oct. 27.-The finan cial flurry in New York last week had no appreciable ill effects on the situation In Cleveland, according to the unan'mous expression of bankers and other finan ciers of .this city. Local bankers say there is no stringency in money In this section of Ohio, and no feeling of un easiness has been manifested by either depositors or those Interested in securi ties. Thus far no action has been taken by the local clearing-house with reference to the issuance of clearing-house certifi cates, but a meeting Is being consideied by bankers and clearing-house officials, an3 a definite plan on this subject will b an nounced tomorrow. . SOLID AS. ROCK OF GIBRALTAR Cincinnati Financiers Have No Fear of Depression. CINCINNATI,' O., Oct. 27 No appre hension of any troubles during the com ing week in this city was felt today by leading bankers and financiers. As Mel ville Ingalls, president of the Merchants National Bank and chairman of the board of the Big Four, Railway, expressed It, "The financial condition of Cincinnati is as solid as Gibraltar. We are not and have not been in any danger here." Others expressed similar views. Dur ing the past week local financial dealings were quiet and at times dull, but prices were firmly maintained, an advance be ing scored on all dealings yesterday. FOLLOW THE NEW YORK PLAN Milwaukee Banks Will Issue Clearing-House Certificates. MILWAUKEE, Wis., Oct. 27. The Milwaukee Clearing-House Association held a meeting today, at which it was decided to follow the plan adopted in New York, Chicago and other cities, of Issuing clearing-house certificates and to require a 30-days' notice from de positors deciding to withdraw deposits from savings banks. The association Issued a statement tonight in which it defines the meaning of "clearing-houe certificates," and the purpose of their issue. SHAKE NOT FELT IN DENVER Bankers Believe Trouble Is Over and Are Optimistic of Outcome. DENVER, Colo., Oct. 27. Financial men of this city express the utmost confidence that all danger of serious results from the money stringency in New York is now passed and that conditions will right themselves rapidly. Charles B. Kounze, president of the Colorado National Bank, and also president of the Denver Ciear-lng-House Association, said tonight that the recent trouble In financial circles of New York had had n6 appreciable effect on- business of Denver and Colorado, and that none was feared at any time. FINISH 12 MILES OF GRADE Tracklaylng Will Soon Begin on the Corvallls & Alsea Road. CORVALLI9, Or., Oct. (Specials Today the finishing -touches were given to 12 miles of grade on the Corvallls & Al sea River Railroad, now under course of construction from CorvalliB in a southerly direction. The point reached by the grad ers is near Bruce postoffice, five miles this Side of Monroe and directly south -of Corvallls.' The road, according to the statement of Manager Carver, Is not to go to Monroe, but will shortly diverge southwesterly and west, through Benfountaln, and thence to the headwaters of the Alsea River, where there are immense forests of fine timber. A second consignment of steel rails is being unloaded on the yards of the com pany In South Corvallls. The aggregate of rails now on hand Is 26 cars, suffi cient to lay 15 miles of track. Large quantities of piling, ties and bridge tim bers are also on the ground, ready for use when tracklaylng begins, which will be when grading operations are imade Im possible by stress of "weather. The road will be operated by an inde pendent company, to which the people of Corvallls and vicinity contributed $30, 000 as a bonus. The Emperor of Japan ha 30 residence scattered throughout hie domain. ii HE BUNCOES HIGH SOCIETY MAN PASSES HIMSELF OFF AS LIEUTENANT PINNEY. I Received by Exclusive Minneapolis Club and Returns Hospitality by Passing Worthless Checks. MINNEAPOLIS, Minn.. Oct. 27. (Special.) A distinguished looking gentleman who introduced himself in the Minneapolis Club last week as Lieutenant F. L. Finney, of the United States Navy, and was accorded all the privileges of thla hospitable but very exclusive club, has decamped and 100 and 500 checks drawn on the First National Bank in Portland, Oregon, which he cashed at the club, have,been returned as worthless. It was the old trick which the man conceived, and it worked like a charm. Taking advantage of the fact that in all of the exclusive clubs of the country, Army and Navy officers are made wel come without the customary formality of being vouched for, bogus Lieutenant Pinney established himself at the club and merely pointed out his name in the Navy liegister he had with him to identi fy himself. It developed later he had borrowed the register at the Navy re cruiting office in this city and It might be mentioned that he never took it back. The man appeared to be accustomed to good society, was seemingly well ac quainted with Navy officers and talked knowingly of various ships. Further more he showed letters to two of the club members which thoroughly con vinced them that he was Lieutenant Pin ney. Now the real Lieutenant Pinney is a distinguished naval officer, who was prominent in the battle of Manila and is very well 'known In Navy circles. Hence every courtesy of the club was extended to the man supposed to be he. He contracted several debts during his stay at the club and is said to have bor rowed money there. It was to discharge these debts that he cashed the checks In the office and received some change. Word received from Washington states that Lieutenant Frank L. Finney is at the Naval Academy at Annapolis. The police are on the trail of the impostor. Northwest People in Chicago. , CHICAGO, I1L. Oct. 27.(Spec!al.) Portland people at Chicago hotels: James H. McNichols, at the Auditorium Annex; C. C. Colt, at the Stratford; J. L. Snow, ,at the Kaiserhof. - AT TUB HOTELS. The Portland R. H. Burnslde. Iowa; J. W. McKay and wife, Nome, Alaska; R. Elliott and wife. EilensburK; B. Shreve, New York: P. D. Winter. Nome: E. P. Smith, Portland; J. J. Smith. W. C. Fried man. B. J- Glynn. A Ottensone, New York; M O. Murphy. Winnipeg; F. Hill, Wardner, Idaho; T. Hardee, San Francisco: J. M. Loomli. Seattle: H. Lambert, W. B. Leon ard. New York; A. E. Relth. Portland; C. D. Danaher, Mrs. C. D. Danaher. Miss Dana her. Chtcaeo: 8. Takahahl. Toklo: A. H. TuaD, lsiw lorki M. M. Ctiaxcc. . Seattle; The BarMngtbn Sale '.Ml Another Gigantic Sales Third in Our ."Fifty-Seven This stupendous sale of the newly imported stocks from The Darlington Company, the great Brooklyn dry goods house which failed just before opening its doors, with nearly a million dollars' worth in readiness for October sale, presents an unparalleled buying oppor tunity. For full particulars read Lipman-Wolfe's great two -page advertisement in the Sunday papers. Remember, no such sale as this ever occurred before in Portland and the savings are almost beyond de scription. The goods are high-class importations, carried only by highest-class metropolitan stores. Postpone your other appointments. Do not let anything prevent your sharing the marvelous savings this sale affords. Established 1850-F1FTY.SEVEN YEARS IN BUSlNESSEstablished Good Merchandise Only-r-Qualitf Conside.'ad Our Prices Are, Always the Lowest Mrs W. J. Patterson. Mrs. F. C. Baker. Washington; L. Dickson. New York; J. Leiehton. Miles City; A. P. Batchman. Mosler; E. Kemerchan. Lincoln, Neb.; M. L. Abbott and wife, San Francisco; D. M. Hamilton. Minneapolis; H. C. Nichols and wife. Trinidad: H. L.. Rust. Tacoma; W. Singer. San Francisco; H. J. Wright, New York; P. J. Chase. Portland; R. H. Schwarz koft. Los Angeles; J. L. Fletcher, C. A. Breltuni? and wife. San Francisco; R. I. Clark, Seattle; A. C. Sutton, Louisville,' Ky. ; W. G. Haley and wife. Sioux Olty: R. Jooe lyn. Portland: Mrs. L. C. Redding. Chicago; W. L. Martin, Boyne City. Mont.; E. John son and wife. Los Angeles; W. H. Golder, St. Louis. The Oregon R. I. Johnson, J. C. Cussen, Chit-ago; A. C. Campbell. Washington. L. C; Leo Shupe, Denver; Etta I.. Schulmerlck. Hlllsboro; R. F. Jenkins, city: C. J. Hill, Rochester; Gilbert Witters, San Francisco; Tom Nolan, Corvallls; A. R. Williams and wife. The Da;ies; A. VIolante. city; C. R. Stewart, Seattle; Mrs. W. H. Moxon, L. Newall. New York; Mrs. J. S. Colinger. Ka lama; Mrs. Kaufman, city; J. J. Chisholm, Miss I. Chisholm. Mns. A. C. Rice, Spokane; George H. Connor, Resort. Idaho; Walter Mc Dougal, Peoria; Fred Jonee, Prescott; L. C. Bishop. Edwardsburg: E. W. Delf. M. V. An drews, H. A Andrews, Calumet; Peter Pann, B. Tuider. New York: C. J. Davis and wife, Seattle; W. B. Wentz. J. Wfs5. C. B. King, and family. San Francisco; W. Brown, Ku gene; F. Heydon, Falls City; M. Jacobsky, San Francisco; E. E. Marshall, city; A. Schultz, Astoria: E. J. Shaw. Astoria; Hans Roberts and wife. John Timong, M1m Arm strong, Robert Craig. New York: F. S. Hop klnson. Chicago; W. H Wells, Seattle: J. H. Mitchell and wife. Pendleton; H. ' Williams and wife, Minneapolis: V. A. Burdlck. Col lins; E. B. Aldrlch, E. E. Colllson, Pendle ton: W. Simpson. G. N. Dolein and wife. Boise; M. L. Abbott and wife. San Fran cisco: E. C. Cole. W. Lloyd and wife, Mon mouth; G. E. Kellogg. Robert Jennlng, C. R. Abbott, F. A. Hull. Kelso; C. Mo. A. Lo gan. San Francisco; Mis Ella Field, Ho qulam; S. A. Gellerle. . The Perkins J. C. Wilson, Portland: Mrs. J. E Rhanv, Perklit; Otto Kaufman, Eu gene; J. F. Hutchison. Medford; E. L. Bur rell, K. B. Roos. Los Angeles; J. C. Smith, J E Jones, LaGrand; Mrs. W. J. Sox, Eu gene: B. A. Uall, Vancouver; W. W. Clark. Spokane; C. Panets, Troutdale: C. B. 1 Harri son. San Francisco: C. P. Sargent, Portland; John Bogan, Woodlawn; D. I.. Keyt, Daniel McDonnell. Perryvale: R. Powell, Wood lawn; John Adams. Portland: C. O. Lempen. C B. Campbell, Frank Howe. L. S. Horan, Moscow; S. A. Crowell. Seattle; O. L. Hel wlg. Spokan Falls; W. R. Schwartz. G. H. Harrington, Seattle; E. H. Kendrlg. Mus catine: J. M. Hlmshaw and wife, Seattle; William S. Holmes. J. Robas. Wllwaukee; G W Clark and wife. McMlnnvllle; J. N. Maxwell. Salem: J. W. McMullen, Frank Allen, Ogden; N. Baker. Philadelphia: J. H. Weiss. Seattle; Andrew Smith. Corvallls: H L. Hackett, Montavllla; Henry Wadkins and Family. Clearwater; Mrs. R. Morris, Kendrtek: Mrs. O. Anderson, Stevenson; M. R. Franke. The Dalles; J. A. Woolery. George Williams. L. Cunningham. Cleve land; J. M. Simpson, Moscow: 'William Mc Donald, New York.. The Imperial W. H. Brunner. Seattle: B. H. Wagner, Nome; Edward C. Tarom. New York- Walt Mill. San Francisco: Mrs. M. Sklllman. city; B. Olseon. Snohomish; C. F. Chase. Salem: G. M. McBrlde. Toledo: Fred S. Bender. Seaside: F. C. Hackeney. cltyi Mrs. George Foster. Baker City; B. C. Hay. Seattle; Charles Feht. Seattle; F. S. Man ning. Chehails; Virgil Cooper. Baker City; F. R. Beals, TUlamooW E. B. Tongu, Hlllsboro- George F. Zimmerman, Tillamook: J. E Hall, E. O. Hall. Hood River; Frame Brown. Condon: Mrs. J. Moylan. Portland; N. P. Gleason and wife. CorteH; J. H. Wal lace, R. Alexander. Pendleton; Hura case, New York ; E. Hoskinson and wife, Denver; E. E. Wilson, Corvallls: Joseph Leahy, Astoria- W. H. Baker and wife. Stevensvllle: Robert 8lbley. Mlssoura; Charles Menzel, San Franeisco:Albert Steward. White Bird: Z. J. Townsend and wife, Ann Arbor: Mrs. F. J Ahlstrom, Ashland: G. W. Shelby. San Francisco; G. A. Mlnard, Astoria; L. G Mayer, Indianapolis. St. Charles M. C. Belt. Bert Perry. M. K. Spiers, clt; H. P. Anderson, Tacoma; V. J. Miller. Kalama; D. B. McDonald. O. R. Sherman. Drain: G. . Brlghtwell. Los An geles; E. P. I'rawford. Fairbanks; C. L. Hasley, C H. Patten, Ashland: M. 8. lle- Mighty Series of Years in Business Callb. Corvallls; J. O. Birmingham, city; M. E. McDonough. A. M. Wright. Kelso: A. S. Kirk. Wasco; Mrs. I. G. Mann, city; George Hayden. H. Slml. Astoria; G SJoberg. Quin cy: J. Wilson. E. C. Davis. Woodland: A. Dahl. Summit: E. H. Vail. Clatskanie; F. A. Bayer, Seattle: J. J. Lewis. The Dalles; D. L. Harris. Milan; S. T. Harris. Milan; M. Shark)-. Oklahoma; F. J. Niederkom. Bt. Paul; R. G. Templeton.. Chicago; J. D. Hooper and wife, Stella: D. Smith, city; C. Heeion. J. Schassen, city; N. H. McKay, Sanvles; E. E. Baxter, M. B. Etennson, Day ton: J. H. Measham. E. C. Smart, 'C. H. Shapper. woodland; H. B. Algers and wire. Castle Rock; E. C. Walker. Warrendale; G. M. Honsell. Athena; J. H. Manning ana wife. St. Helens; H. H. Griffith, William IrenlcUe. Yale; Mose Rasln, Bessie Pugh, S. M. Gibson, city; J. H. Campbell. Amity; J. H. West, Ariel; H. B. Cormlchael. Rldge fleld; M. Glllmore, Mrs. Bradford ana daughter, city; F. M. White, Heppner; C. M. Lawrence, city; C. H. Yergon, Parnel; H, Wllkerson. Bridal Veil; B. Benens. Albany j J. Eckert, J. D. O'Neill, city; A. L. Baker and wife, Dundee; Ben Barnes, Rainier. The Inm Thomas James. Bangor, Me. ; C. D. Baldwin. Quincy, III.; Robert Morri son. Tillamook; W. S. Gillette. R. L. Willis. Oswego. Oregon; C. P. Boulware, Califor nia: O. D. Langdon, San Franclscx; W. E. Gasllnger, Mrs. W. E. Gastlnger. Newcastle, Pa.: H. D. Dickson. Minneapolis; Mrs. H. Gardner, Sauvles, Or.; J. J. Griffith. Lo An geles; James F. Kinney. Yakima, Wash.: P. S. Clayton and wife. North Bend. Or.; Mrs. J. A. Morrison. Seattle. Wash.; T. C. Bell, Astoria; W. W. Williams, Portland; A. 8. Butterworth, Los Angeles. Dyspepletsj Quickly Telieve'Somr Stomach, Heartburn. Nausea, andall other discomforts of indigestion and dvsDeDsia. finear. coated tablets. 10c. or 25c. Druggist or by mail. a. - - 1 a. Gbre instant reliet in Cratarrlets r;1 c"rTh-u; wwm m avew innammatien. heal mucous membrane, sweeten breath. Bet gargla iro throat. 50c. C. I. Hood Co., Lowell, Mass, It Made br Hood It's Good. A. WATCHES and Jewelry pay a small payment at the time of purchase and balance in easy weekly or monthly payments to suit your, income or convenience. Eastern -Outfitting Co. Tenth )lU.i.frfti1liUr..f.r.6tM it--KT & AL Xht Stwrr What I 23 Ytttr Credit k?S- K:-f1 "ftVit;" ' ' I Event 99 1850 COFFEE Fire degrees of excellence. Fire degrees of excellence. Five degrees of excellence. One degree of money back. Tour grocer returns your money If yoa don't like Schilling's Bast; w pay him. Monogram Stationery W W.G.siHSC0. WA6HKJGTOX BX71LDINO. The uses for gold jap-A-LAC are practically endless, but one of the most important is for re finishing old gold leaf chairs. With a can of gold jap-a-lac you can quickly make a new chair out of an old one. Or, if yon prefer a silver finish, nse the ALUMnrrjii JAP-A-iAC SIXTEEN BEAUTIFUL COLORS. SIZES FROM FOR 5ALE BY ALL FIRST OAS SfWNT.tlaROWAfit "AcS REFUSE RNT1GlI.0t W tSH 8IUDK VARNISH AND STAIN COMBINED fmM y sw