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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (July 1, 1911)
MERGER IN STEEL CUTS COMPETITION Corporation Declared to Be Owner of 75 Per Cent of Lake Ores. OUTPUT IS DECREASED Commissioner of Corporation Her bert Knot Smith GItt Startling Hfiim oa Combine In Re port to President. WASHINGTON". Juno 30. Restriction nf competition is declared to have been the prim" obfect of the orpanixere of the frlted States Pteel Corporation. irMch. capitalized at 11.42.000.000. had tanclble property worth only 6I2. unn no". The corporation, having; concentrated lt efforts to secure ore properties, now owns 73 per cent of the lake orea upon which the present ateel Industry Is based. These are some of the conclusions reached In th lonr-ejcpected report of Commissioner of Corporations Herbert Knni gmlth on the steel Industry, part of which was submitted to the Preal dnt today. Fight Is Avoided. Plsrusslng how -the Impending struggle of the plants" was averted, almost overnlcht. by the formation of the irrent combination taktnr In 250 subsidiary companies controlling; 0 per cent of the total trade and finished steel production of the country, the report says: "Vntll 10 the bulk of the business was distributed among a very consid erable number of concerns. There was sharp competition, modified by frequent pools of greater or less duration and effectiveness." Then came an era of (treat combi nations, the report continues, with cap italisations ranging from Jjn.000.000 to $100.1100.000. meraers of many smaller companies, which. Instead of eliminat ing competition, threatened to berln price-cutting; on a laraer scale than ever before. In 1899-100. there were three areat companies the Carnea-le Company. Federal Steel and National pteel dominating the production of crude and seml-flnlahed products, and six concerns the American Steel Wire, American Tin Plate. American Fteel TToop. American Sheet Steel. Na tional Tube and American Bridge controlling; the lighter finished prod ucts. Xlne Companies Combine. This was the period "when the 8trus 'e of the plants" was Impending; and when the formation of the Ignited Slates Steel Corporation was brought about. All nine of the companies named were combined and later the t'nlon Steel Company, the Clalrton Steel Comrany. and. In 1907. the Ten n CoeJ. Iron Railroad Company, were taken over. The promoting; ayn-dw-ate putting; the deal through netted 17 &'o.oo rash. iMirlng; the 10 years of Its operation, tlie report says the trust has paid av erage profile of li per cent on the money invested. Attention Is called to the fact that a considerable part- of the Investment is In undeveloped or nnworked property, showing; that div idends from paying; properties must be much larger than the arerajre would Indicate. Insisting; upon computing profits upon a tangible property value basts, the report says that the steel corporation In defending; Its book valu ation undoubtedly would claim that there was a "merger value Decrease Is Shown. Flrne the corporation has been di recting; Its efforts particularly toward acquiring; and extending; complete con trol over ore properties. Its percentage of production has decreased. As tunrt tSO per cent of all crude and finished production In 101. the report aaya, the corporation bow baa not much over S) per cent, indicating; conclusive ly the continuous presence of strong; and Increasing Independent production." The advantage of controlling 7S per cent of the lake ores on which the In dustry Is based. Is materially enhanced by extensive control of rail production from the mine In the lakes. In his letter accompanying the report. Com missioner Smith says that In capacity rather than In actual production, the corporation la materially stronger than the production figures Indicate and suggests that In case of continued trade depression this strength probably will show Itself In Increased control. 600,000 ACRES ARE OPENED Land fn North and Sonth Dakota Free for Settlement. WASHINGTON". June 30. Approxi mately od.00O acres of land have been opened to settlers under the registra tion plan through a proclamation signed by President Taft. 150,000 acres being within the Fort Berthold Indian reservationof North Dakota, and 460. nno In the Pine Ridge and Rosebud In dian reservations In South takota. These lands are to be opened under the regulation plan heretofore fol lowed The registration for the North Dakota lands will begin August It at the towns of Bismarck. Mlnto, Pbtsa, Harrison and Rider. N. D- and the registration for the South Dakota lands will begin October t at the towns of Chamberlain. Pallas. Oregory and Rapid City. S. D. Each of these registrations will continue for three weeks. VAST FORTUNE NOT DREAM Hospital Pantryman Get Advance, Ix-are-s to Claim S7&O.0OO. Receiving an advance on the fortune reported to be $70.000. which awaits Ms arrival In Kngland. Frank S. Watts, a pantryman at St. Vincent's Hospital, who received news of his good fortune last Wednesday, left Wednesday night (or England, going via New York. The good luck, which Watts was at first Inclined to doubt, was certified by another letter from lawyers In Eng land and Watts gave up his position at the hospital at once. The money was left Watts after the death of an uncle, f?(!gar S. Watts, of Croydon, Eng land. CRIMSON IS TWICE VICTOR Continued frn First Pag. hands threw buckets of water en a l!ttle fire started In one car by a el gar. In the train wefe Ling Ton Ten, MlnUter cf. JToreisn MUin la. China. , with his family. In their Oriental dress, and the Minister's secretary. Tong Kwoh On. Although last In order for the day's programme, the first In Importance was the varsity eight-oared contest. The betting favored the Crimson oars men, and odds, which were 10 to on Harvard. Increased to 10 to . It was noted that there was comparatively little Tale money In sight. The yachts, all gaily decked with flaga and bunting, afforded one of the most attractive spectacles seen here In many years. Anchored on the East Side were the three white-garbed reve nue cutters and derelict destroyer Sen eca, on which Captain P. H. Uberroth. the commander of the aquadron. gave his orders to the flotilla of email boats, assigned for duty. A six-knot nortneaster blew dl sgonslly down the Thames and against the plan for the morning up-stream race, but the wind did not have force enough to kick up more than a good-slxed ripple, while the pro. tectlng banks of the Grot on shore and the hedge formed by the spectator fleet further cut off the force of the breeze. Still conditions were not good for fast work In the freshman and the varsity four-oared events, which were first on the programme. In the preliminary races last evening there wss an even break. Tale winning OUTLOOK BETTER FOR RECIPROCITY Understanding Reached That No Delays Will Be Permit . ted Henceforth. TARIFF VOTE CONCEDED Democrats Satisfied Declare They Will Be With Rollcall and Specchmaking Will Be Cut to Minimum. WASHINGTON. June 10. The Can adian reciprocity situation cleared to a marked degree today and a . canvass COMPETING CREWS IN YESTERDAY'S GREAT COLLEGE BOATRACE ierw.sS liiasa------ ' '-J- 5et7r?i-' : Ci' ABOVE, HARVARD, THE WIXMF.R- BEWW, YALE, THE LOSER. the freshman and Harvard the gentle men's eight. PASTOR DEFINES DEATH THIRD ORDKK RIGHTEOI S, SAYS UEV. MK. Rl'SSKLL. Speaker Answers (juCKtions Asked hy Hearers, (juotlns; tVom Bible From Memory. A large number or questions on bib lical sublects were anawered by Rev. Charles T. Rusoell at the Armory last night. Mr. Rusnell does not have a Bible at hand either In giving his lec tures or In answering questions, but trusts to memory for texts. Many of bis statements he left unsupported by Scripture. Some of ths questions and the answers were: "Regarding death, do all die? John :M says: "If a man keep my sayings, he shall never see, death.' " The answer was: "Death In the actual sense would mean utter destruction. The word of Ood does not speak of the first death as absolute death. It speaks of It as a sleep. Jesus said. 'Our friend Lazarus eleepeth." He was not annihilated In the sense of being utterly destroyed. Except Ood had ar ranged for man to bo redeemed from death, death to a man and death to a dog would have been exactly the same He made no provision for redeeming the dog. but he did make provision for redeeming the man." "How shall we understand the earth to abide forever? Rev. 51:1 says: 'I saw a new heaven and a new earth, for the first heaven and the first earth were passed away: and there was no more sea.' " "According to the Bible there have already been two worlds and a third Is coming, and this earth has been snd will he the scene of all of them. The apostle speaks of the world which wss before the flood, and nf the pres ent evlt world. It doesn't signify three earths, but three different or ders, or conditions of things. Before the flood they had the ministration of angels. Until the second advent of Christ things are In tne bands of mankind- The government of the new dis pensation will be altogether righteous, because Christ, the Prince of Peace, will' be the ruler. The word heaven Is used symbolically to represent ec clesiastical powers. The heavens of the present time are the religious sys tems of this time. The mountains rep resent the kingdoms, and the rivers troops." Tne speaker said Abraham and the Jews were not members of the "bride ela-s." and would not have part In the first resurrection, but would be the nucleus of those who. Mr. Russell says, would be saved during the second probation. Grants Pas Gets Moose Order. '. GRANTS PASS. Or.. June 30. (Spe cial.) A new organisation has been sdded to the fraternity lodges In this Mty. called the Moose. Grants Pass. Ilk other towns of the Coast, Is liberal In patronizing fraternal and social or ganizations. A few years ago a move ment was on foot to obtain sufficient members and have organized a lodge of the Elks, but one of the up-valley towns knew of the promotion work and headed the preliminary work to anoth er town. Oregon Electric Cae Opened. SALEM. Or.. June . Speclal. The expected action against the Oregon Electric was brought In Circuit Court today by the Attorney-General for the State Railroad Commission. It Is al leged in the complaint that the railroad has been violating the nine-hour law as It relates to conductors and trainmen. Engineers Wages Advanced. CLEVELAND, June Jo. More than 200 engineers of the Baltimore A Ohio Railroad will receive an Increase in wages amounting to about C per rent beginning tomorrow, officials of the Brotherhood of Locomotive Engineers said here today. A mmaTure. gss ad even ex p lis ton proef trhooe lor use ia bums a beea la- of the Senate was in every way as suring to friends of the measure. With not more than a dozen set speeches In prospect and with eight hour sessions on the programme., many of the Senators count on a vote be fore the end of July. When the Senate adjourned after three hours of anti-reciprocity speech making by Senators Gamble and Cum mins, there was an understanding that there would be no further effort at legislation until after July 4 and that, when business is resumed, there will be no cessation until final ad journment. Roth Houses) to Take Recess. There will be a brief session of both houses tomorrow, but only to meet the constitutional Inhibition against either hody adjourning for more than three days at a time without the other's con sent. The recess will continue until July 5. The most formidable speech still to be msde Is that of Senator La Fol ette. He will present his long-promised tariff amendment to the reciproc ity bill and will talk for three or four days, discussing the tariff even more than reciprocity. These amendments will be in the nature of a substitute for all other tariff suggestions. The only speeches promised In sup port of the reciprocity bill will be mads by Senators Stone of Missouri and Burton of Ohio. In addition to Senator La-Follette. Senators Clapp, Brlatow, Gronna. Nelson, Bailey. Sim mons and others will be heard. . but none except Ia Follette. and possibly Brlstow, will talk at great length. ' Early Conclusion In Sight. With reciprocity disposed o(. It is believed that the session will not be greatly prolonged. The "standpat" Republicans are disposed to concede a vote on the wool and free list bills. The Democratic Senators have said from the beginning they would be sat isfied with a rollcall on the two tariff bills and there are Indications that the "standpat" Republicans will let these go to vote without much debate In Tiew of the threatened Presidential veto of both bills. Senator Cummins, who has had the floor parts of the last three days, an nounced that he would conclude his attack on the bill next Wednesday and that he would like to have his amend ments, enlarging the free list on Can adian products, voted on July (. Gamble DLsagrees With Taft. Senator Gamble In bis speech oppos ing ths reciprocity bill today said that the measure proposed was a violation of the settled policy of the Republican party for a generation and that it was a serious blow to the farmer. He de clared thst it had been passed both times in the House of Representatlvea with a majority of the Republican party against It. "With the highest respect for the President." he said, "and with great confidence in his wisdom, I am unable to follow him in the proposed legis lation. I have no criticism to make of the President for the course he has pursued. I wonld have preferred, how ever, that Congress In the first in stance had been advised with and con sulted therein snd we would not then hsve here a proposition of executive origin which we can only arbitrarily dispose of." Senator Gamble said the farmer was apparently to be sacrificed, his pros perity checked and his opportunity of extension and enlargement curtailed. In this respect he was practically help less to protect himself by combination or otherwise, said Senator Gamble, to save himself from the general on slaught. The bill, he said, gave ad vantage to the manufacturing inter ests and would seriously depress the value of farm lands in this country. APOLLO CLUB HAS CONCERT Portland's Musical Organization Is Heard at Oaks Auditorium. For the first time In its history, the Apollo Club, Portland's well-known male chorus, sang onot only to its as sociate members, but to the general public, and the event was a big success. The concert took place at the audi torium at the Oaks, and the attendance was large and enthusiastic. William H. Rover was conductor, and William C. McCulloch piano accompanist. , uncr h the 44 members of .the AjjoUo Club, who attended, was J selected from numbers given at pre vious concerts, and was all the more welcome to those who had heard be fore, but to many listeners It was new. The chifl js sang well together, the tone blended very well, the ensemble work was good, and the crisp phrasing ad mirable. One of the best aung numbers was Hammond's "Loehinvar," with well rendered baritone solo by Dom J. Zan. This selection was a real, stirring Rat tle cry, mlngletfwlth dramatic senti ment, carefully shaded. "The Sword of Ferrara" was clearly a favorite, while the most amusing . number was The Low Backed Car." Four selec tions were sung unaccompanied, the shading being a good feature. The en cores were many and hearty. John Claire Montelth was to have sung, but was prevented from being present by other professional work. STEPHENSON'S TUHN NEXT Senate Committee Gets Records ia Wisconsin Member's Case. WASHINGTON. June 30. Another Senatorial Investigation question was Tlaced before the Senate committee on elections today, when the full certified records of the legislative investigation of the election of Cnlted States Sena tor Stephenson, of Wisconsin, was re ceived by the Vice-President, laid be fore the Senate, and refen-ed to the committee. The documents received today from the Wisconsin Legislature, requests a Congressional investigation of the charges against Stephenson. The report of the State Senate's spe cial committee declared Stephenson's election to be the result of corruption, and alleged that J107.000 had been spent in his behalf. Accident May Cct Fingers. GRANTS PASS. Or., June 30. (Spe cial.) Arthur U Fryer, a well-known machinist and one of the owners of the box factory here, met with a painful accident that will lay him up for sev eral weoks. Fryer was working some machinery about the factory and had started the wheels under their own momentum, and by mere accident his hand slipped into the cogs that had gathered speed and was ground and crushed before the wheels oould be stopped. The wound is very painful, but It is thought that he may be able to save the fingers if complications or blood poison do not Interfere during the first advance of the healing process. Railroad Scales Made Accurate. SALEM. Or.. June 30. (Special.) Notification has been received by the State Railroad Commission from M. J. Buckley, of the Southern Pacific, that slight errors In track scales at Rose burg and Albany have been rectified so that the scales are now perfect. Prior to the correction of the scales those at Roseburg varied 36 pounds on 30,000 and at Albany the variation was 232 pounds on 30.000. Assistant Manager Buckley said that the railroad test car would be kept active on ths scales south of Ashland to remedy any that may not be in perfect condition. Canby Man Dies Suddenly. CANBT, Or.. June V (Special.) John Christian Buhman died at his home one mile north of Canby Thursday morning. The death was a sur prise to the community, as few knew that he wss ill. Mr. Buhman had lived In Canby for some time. He was 37 rears old. Snd leaves a wife and three children. The funeral will be held on Saturday. St. Louis Men See Mine Land. COTTAOra GROVE. Or.. June 30. AT CARTWRIGHT PARK 0LLADAY, 0HEG0N CITY WATER ELECTRIC LIGHTS FIVE MINUTES FROM TOWN TO SEASIDE, 16 OCEAN FRONT LOTS LEFT, EACH $750. BEAUTIFUL GROVE LOTS, $200 TO $350. HOLLADAY PLACE IS THE LONGEST ESTABLISHED, BEST EQUIPPED, MOST BEAUTIFUL SUMMER RESORT IN OREGON. IT IS NO RAW PIECE OF GROUND CUT UP INTO LOTS, BUT A PARK THAT HAS BEEN MADE ATTRACTIVE AND KEPT THAT WAY FOR YEARS. A SMALL PORTION HAS BEEN SUBDIVIDED, AND EVERY SITE IS IDEAL. YOU CAN GET A LOT FACING THE BEAUTIFUL NECANICUM RIVER, OR IN THE GROVE OR FACING THE OCEAN. SHELL WALKS, GRADED ROA13- WAYS. PROPERTY SIDEWALK TO TOWN OF SEASIDE. DEPOT ON AGENT ON THE GROUNDS, OFFICE SEA- STT.T! HOTEL. THE SEASIDE HOUSE AT HOLLADAY OPENS tTTTT.v THIRST. fiOOD BOARD AND EVERY ACCOM MODATION. NEWLY EQUIPPED. AGENT FOR PROP ERTY AT HOTEL OFFICE, OR . .. , r W. B. AND G. E. STREETER 212 LEWIS BUILDING PORTLAND, OR. BUY YOUR TICKET FOR HOLLADAY. $3 ROUND TRIP, SATURDAY TO MONDAY. $4 SEASON. (Special.) Mr. and Mrs. George Busch and Mr. and Mrs. Fred Busch, of St. Louis, officials of the Anheuser-Busch Brewing Company, together with a par ty of other Kastern capitalists, have Just returned to Cottage Grove, after a three days' trip to the Bohemia min ing district. It Is rumored that the party was investigating mining prop erty in Bohemia, but the most definite statement obtained was a remark md by Mr. Busch to the clerk of the Llotel Oregon that: "The country looks Vilghty good to us." Grand Op esiiii , July 1st Satorday The Spring Valley Wine Co. Announce that their handsome new quarters are ready and welcome their friends to view and approve of the new store. Free to Everybody A Bottle of Choice Old Wine We have provided ten thousand sample bot tles of our choice old wine and every visitor Saturday will receive a bottle absolutely free, between 7 and 10 P. M. We cordially invite our friends and patrons to inspect the largest and best equipped family liquor store in the United States. SPRING VALLEY WINE CO. h S. W. Corner and Yamhill