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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Dec. 22, 1919)
THE MORNING OREGONIAN, MONDAY, DECEMBER 22. 1019. 57 EARLY INCOME TAX ITS URGED STATEMEU Revenue Collector Will Mail eianks in Short Time. ASSISTANCE IS OFFERED Statement- May Be Prepared Prom January 1 to March 15; All Income to Be Included. Those subject to the government in come tax are urged by the Internal revenue department here to file their returns as early as possible after the first of the year in order to conform with the law promptly anl receive the aid of local officials In making out their returns. The following statement was issued yesterday by Milton A. Miller, collector of internal revenue: "The time for again filing income tax returns is drawing near. The period provided by law is from Jan uary 1 to March 15. All persons who filed income-tax returns for the year 1918 will receive forms upon which to make returns for the year 1919. I'orms. to Be Mailed. "It is hoped to have the forms In the mails on or about January 1. They will be mailed out as soon as practicable after their receipt from Washington by the local office. "The law places the burden of fil ing upon the taxpayer, so that any one who does not receive a form on or before January 31 should apply to the local office in Portland for the same. In mailing the forms the ad dress given by the taxpayer In his last return must necessarily be used, so that taxpayers who have changed their addresses may not receive the forms when mailed this year and they should be sure to obtain such forms in order to complete and file their re turns within the time prescribed by law, which expires on March 15, 1920. "The returns due between January 1 and March 15, 1920, must cover in come received from all sources for the calendar year ending December 31, 1919. Taxpayers should prepare their figures as soon as possible after Jan uary 1, so that they may be able to submit their returns when the forms reach them. AwlMianor Ij Offered. "Taxpayers are urge, to file re turns as soon as procticable aften re ceiving their blanks in order to save themselves annoyance and delay which they are sure to experience if they put off filing until towards the close of the filing period, when there is usually a great congestion and a consequent slowup in the service it Is possible to rendef taxpayers. "The staff of my office will be pre pared to aid taxpayers upon points involving the application of the law and every facility will be accorded them for the prompt filing of their returns. Taxpayers can help them selves and the government by not de laying such filing and by being pre pared to file when they receive their forms." own education and recreation fund and spend it as it likes, according to an order received there yesterday from the war department. Athletic, dramatic, musical and other enter tainments are permitted, provided they are not in competition with amusements provided by the war department. RATES ON FOREIGN YOUNG JOY RIDERS HELD Three Referred to Juvenile Court for Investigation. Chester A. A. Sumption, 17, of 992 Thurman street, and Oliver Benson, 15, and Bean Walker, 14, both of 855 Savier street were referred to the juvenile court for investigation yes terday by Inspector Horack after they are said to have taken the automo bile belonging to Dr. L. D. Kenton, 383 Thirty-second street North, early yesterday morning in the effort to tow a machine, in which they had been joy-riding, from a mud-hole at Franklin and Aspen streets. The car of the physician was left about a block and a half from his home, covered with mud. Inspector Horack'took young Sump tion to the police station yesterday morning for investigation, and he is said to have confessed the entire es capade. The t oys are said to have been joy riding in an automobile belonging to H. L. Sumption, father of Chester Sumption. SIMPLE DRESS IS URGED Roseburg Parent-Teachers Seek to Squash Extremes in Schools. ROSEBURG, Or., Dec. 21. (Spe cial.) A campaign to effect a dress reform among high school girls was started here Friday by the members of the Benson Parent-Teacher asso ciation, which charges that high school girls are wearing garments not only detrimental to health but uncom fortable. It was also asserted that those girls who are unable to wear the stylish garments feel humiliated and are refusing to attend school. In a resolution adopted at a meet ing of the association it was charged that many of the girls coming from families of only moderate means are wearing elaborate dresses made with little regard for health or comfort. EUGENE PROFESSOR QUITS Allan C. Bopkin to Take Position With Portland Company. UNIVERSITY OF OREGON, Eu gene. Dec. 21. (Special.) Allan C. Hopkins, professor in the school of commerce of the University of Ore gon, has resigned his position to ac cept the place of office manager of the Glenn E. Miller Investment com pany, in Portland. He will enter upon his new position January 1. Professor Hopkins has been teach ing classes on the campus and, in the Portland extension center, in life and fire insurance, foreign exchange and investments. Arrangements for fill ing his place have not yet been made. according to D. Walter Morton, head of the school. Every member of the faculty of the school of commerce, including Dean Morton, has had offers to go into private work at largely advanced salaries. TRAPPERS BELIEVED LOST Search Started for Two Men in Soda Springs Country. CHb ALIS, Wash., Dec. 21. (Spe cial.) Frank and Robert Lambert are thought to be lost in the Soda Springs country in the foothills of the Cas cades. They left Toledo more than three weeks ago on a trapping expe dition with barely two weeks' pro visions. Their horses came home last Sunday, gaunt and half-starved. Both are experienced woodsmen, but it is feared they met with a mis hap. Andrew Cooper heads a search ing party that is attempting to locate the men. EXCHANGE IMPROVE Silver Reaches Highest Level Known in London. MEXICAN DOLLAR IS UP Camps Close for Christmas. ABERDEEN, Wash., Dec. 21. (Spe cial.) The last of the logging camps in this county still in operation closed down for the Christmas holidays. Sev eral of the camps already have been closed a week or ten days on account of the weather. Ten Polsen camps are among those that closed last night. About 700 men of that com pany will draw their pay checks Monday. Speculators in Foreign Currencies Now Feel Effect of Operations. Coast Conditions Favorable. The last week closed with dight improvement in foreign exchange rates from the extremely low level reached during the early part of the month. Saturday the pound sterling was quoted in New Yorf at demand. $3.81, and cables, 13.&2M. German marks were down to 2.15 and French francs to 10.55. Silver on Tuesday reached the highest price ever known in London, when It was quoted at 79d per ounce. Saturday the Lon don quotation was 775d, a decline of 1 3-8d. But whereas bar silver was quoted in New York Tuesday at $1.33 an ounce, the New York quotation of Saturday was $1.33. Th once despised Mexican dollar, for so many years always worth practically half of the value of Its American peer, is now quoted at $1.01. Those who plunged into speculation in foreign currencies when the de cline set in, are now feeling the con sequences, and some of these who be came discouraged and attempted to dispose of their holdings have been factors in further depressing the mar ket. The serious situation is not the low price, so much as the amount held, that is now overhanging the market. Of course the serious aspect is the influence that the rate has on purchase of American manufactured goods. Just as soon as there is a ray of hope that something will be done to stabilize exchange it would un questionably result m heavy invest ments in certain classes of foreign securities that have been forced down by reason of the prevailing depres sion. Pacific caost conditions remain satisfactory in the volume of financial and commercial business being trans acted, but with cause for annoyance that the railroad administration has not found a way to provide cars that would enable the sawmills to continue operation at capacity while the mar ket demand is strong for the cut and the need for furnishing employment pressing. Danger is seen in idleness and the lumber industry can absorB a large part of the men seeking work, if the product can be shipped promptly. The Bank of California, National as sociation, celebrated !ts annual ban quet and social gathering of employes and officers Thursday night at the Benson hotel. A musical programme, dancing and entertainment numbers by professional entertainers and members of the staff made the oc casion pleasant. This was the first event of the kind held in four years as the annual meetings were omitted during the period of the war. A profit-sharing plan has been .s- tablished by Freeman Smith & Camp company for employes of its Port- land and San Francisco offices. The company, in concluding a profitable year's business, is declaring a divi dend to its employes, nuAberlng 23 in the two offices, of 15 per cent of their salaries for the year. Those who have been with the company a full year will receive a Christmas present of nearly two months' salary. E. A. Cudahy, president of the Cudahy Packing company, in his an nual report to the stockholders, made public due to the agitation incident to proposed legislation aimed at the packing industry, reiterates the state--ment in his previous annual report, and says: "We wish that the public could from day to day follow accurately with us the costs of labor, material and livestock and could see with us how these items account for the in creased price of meats. Two things are fundamental. Cheap meats can not be made from high-priced live stock -with high-priced labor." A new issue of city of Klamath Falls general obligation 6 per cent bonds aggregating more than $97,000 is being offered this week by the Lumbermens Trust company at prices to net 5.125 per cent for the 1920, 1921 and 1922 maturities and 5.25 per cent for the remaining seven maturi ties. The trust company also has purchased and is offering at par an Issue of 6 oer cent improvement bonds of the city of Hardin, the county seat of Big Horn county, Montana. The Lumbermens Trust company re ports a sharp demand for its recent offering of $400,000 Washington Water Power company two-year notes, which were priced at par. Within 24 hours after the time set by the syndicate for the public offering the trust company s entire allotment was sold. There was also a responsive market for the American Gas & Elec tric company one-year and two-year 6 per cent notes, which were priced to net 7 per cent and 7.10 per cent, respectively. At the special meeting of the board of trustees of the Equitable Trust company of New York it was unani mously voted to recommend to the stockholders of that company at their special meeting to be held on Decem ber 24, 1919, the authorization of an increase of the capital stock of the company from $6,000,000 to $12,000,000. "In Chicago and the Twin Cities, where I visited with some of the largest banking institutions in that section." said M. E. Fitzgerald of the Ladd & Tilton bank, who has just re turned from a trip east, "a noticeable feature at this season is the Interest that is being taken in the Christmas banking clubs. Few, perhaps, realise the growth In popularity of these clubs, which were established about the time that America entered the world war. During the past few weeks the banks of the United States have been distributing approximately $100,006,000 to some 3,000.000 members of these clubs, scattered from Maine to California, and up and down the country." a The past week has been an un usually active one In the sale of gov ernment and municipal bonds, accord Ing to John L. Etheridge. president of Morris Bros., Inc. "We usually ex pect a slump in business at this time of the year." said Mr. Ktheridge, "but this has been an exception to the rule, and it looks as though the month of December would rank equally with other months during the year. This volume of business we believe Is due to the fact that we have had excep tional offerings, especially those from Canadian provinces and municipalities." SEAL SALE TO SPEED UP Whirlwind Campaign to Be Waged Until Christmas Eve. Buy Christmas seals and help the tuberculosis sufferers! This will be Oregon's slogan for three days more, as the sale of the little Christmas stickers will end Christmas eve. It has been estimated that $36,000 of the $44,260 needed to carry out the public programme of the Oregan Tuberculosis association for 1920 is practically assured and It Is thought the whirlwind campaign will complete the budget. The sale was decreased by the storm, the country districts and smaller towns suffering far greater inconvenience than Portland. Several agents in the rural districts will continue their work until after New Years. Among those who will sell seals to day are: Mrs. J. H. Goldstaub, Mrs. Anna Pettlbone. Miss Winifred Mitch ell. Mrs. J. C. Langelle, Mrs. E. C. McGinnls. Miss Ida V. Jontz. Mrs. E. O. Summervllle, Mrs. John Hawes and Mrs. W. H. Daugherty. JOURNALISM TO BE TOPIC University School to Be Host to Western Association. UNIVERSITY OF OREGON. Eu gene, Dec 21. (Special.) The school of journalism of the University of Oregon will be host to the Western Association of Schools of Journalism at the annual meeting, to be held December 29 and 30, Professor Everett Smith, head of the work in journalism at Leland Stanford, Jr., university, will be a guest at the meeting, which will be attended by Dean M L. Spencer, Pro fessor Ralph Casey and Miss Grace Edglngton, of the University of Washington school of journalism. Dean A. L. Stone of the University of Montana school, and the following members of the faculty of the Oregon school: Dean Eric W. Allen, Profes sor Colin V. Dyment, George Turn bull. Professor W. F. G. Thatcher and Robert C. Hall. Canadian Bonds Exempt From All Dominion Government Taxation Bonds of French Cities Exempt From All French Government Taxation 6H to 7 Interest Investment securities which net from 6 to 7 are exceptionally attractive espe cially when they have behind them such a great amount of taxable property, wealth and resources, in proportion with the outstanding indebtedness, as the following bonds have. These are general obligations of the respective municipality issuing the bonds. Rate. Maturity. Price. Yield. 24.33S $Fort Williams. City of 5 FiA 1934 86.26 6.50 28.713 JManltoba. Province of. Guaranteed 4 J AD 1S0 81.19 C.60 10.000 tNorth Vancouver. City of. Prov. of B. C J&D 1923 97.S4 7.00 30.000 Reglna, City of. Province of Sask MAS 1923 98.56 C.50 9.246 JJVaucouver. City of. Prov. of B. C. 4 J&D 1923 91.41 7.00 6.000 Victoria, City of, Prov. of B. C 6 MAS 1931 96.1T C.S0 46.000 Greater Winnipeg Water District & JAJ 1922 96.49 6.50 6.000 tGreater Winnipeg Water District 6 JAJ 192S 98.46 6.60 200 ttGreater Winnipeg Water District 5 FA A 1921 96.97 6.60 100 ttGreater Winnipeg Water District JAJ 1924 98.23 6.50 100 ttGreater Winnipeg Water District 6 JAD 1923 95.37 6.60 100 ttGreater Winnipeg Water District FAA 1923 98.39 6.60 49.000 Bordeaux. City of. France 6 MAN 1934 92.50 6.80 38.000 Lyons. City of. France MAN 1934 tS.SO (.80 46.000Marsellles. City of. France 6 MAN 1934 92.50 6.80 ttDenotes $100 denomination. 'Denotes bonds of $500 denomination. Denotes bonds of $500 and $1000 denominations. 'Denotes bonds of $1000 denomination. Denotes bonds of $100, $600 and $1000 denominations. ttDe notes bonds of $486.66 and $973.33 denominations. Denotes bonds of $486.66 denomination. Burglar and Fireproof Safe Deposit Boxes for Rent. MORRIS BROTHERS, Inc. The Premier Municipal Bond House. C apital One Million Dollar. Morris Building 300-11 Stark, treat. Between Fifth and Sixth. Telephone Broadway 2151 Kataltllahed for Over a Quarter Century. him. He had fired two shots dropped the suitcase. One of the arrested men. John Ha slch, was charged with violating- the prohibition law. The others were booked on charges of intoxication. Those charged with drunkenness were: Tony Kojundlch. Robert Perl slch, Michael Perkoslch. Tony Perko slch, Mark Dotch, Michael Celtic and James Levis. Ball for Liasich was placed at $500 and that for the others at $50. 8 AUSTRIANS ARRESTED Drunkenness and Violation of Pro hibition Law Charged. Eight Austrians were arrested in a raid by Patrolman Mossie and Motor cycle Officers Norejie and O'Halloran late Saturday night at 732 Roosevelt street. A ninth man. carrying a suitcase of wine, made his escape after Mossie Aherdeen Guard Receives Pay. ABERDEEN, Wash.. Dec. 21. (Spe cial.) Federal government checks totalling more than $862 have been received by Captain Frank Burrows for distribution among the men and officers of Company H, National guard of this city. The checks are in payment for drilling done between January 1 and July 1 of this year. LIBERTY and VICTORY BONDS If yon must ,.11 yonr Liberty or Victory Bonds, oell to us. If you ran buy more Liberty or Victory Bonds, bny from ns. On Saturday, December 20, 1019. the closing New York market prices were as riven below. They are the governing; prices for Liberty and Victory Bonds all over the world, and the highest. We advertise these prices daily in order that you may always know the New York market and the exact value of your Liberty and Victory Bonds. 1st 1st 2d 1st 2d 8d 4th Victory SVs 4s 4a 4m 44 4V4 S 4m Market $98.00 $93.26 $91.3(1 $93.30 $8144 $93.64 $91. SO $S 90 $9819 Interest ... .00 .07 .40 .07 .43 1.18 .78 .06 .OS Total ...nn.o 883.S3 891.76 tM 37 - w nen buying we deduct 37c on i V e sell at the New York market $91. S7 $94.77 $92.28 $08.96 $98.9 $50 bond and $2. SO on a $1000 bond. Dlui the Accrued Interest. Burglar and Fireproof Safe Deposit Boxes for Kant. Open I'ntil 8 P. M. en Saturdays. MORRIS BROTHERS, Inc. Tbo rreuiler Municipal Bond llou.r. Capital One Million Dollars. 309-311 Stark St.. Between Sth and th. Katabllabod Over a Quarter Centary. Morrkt Building Telephone Broadway 2151. TWO DOZEN Blanchard Evaporated FRESH EGGS $1.15 ask Yoair Grocer Baaelwood Company. Distributors Portland, Oregon Investment Safety This is the most essential requirement in purchasing any security. In considering any bonds offered by us the investor is absolutely safeguarded, knowing that they are securities that we ourselves have purchased for our own account, after careful investigation and analysis. With this an issue of in mind, we call your attention to our offer of NEEDS TO BE DISCUSSED College Expert to Tell Farmers How to Fight Pests. OREGON AGRICULTURAL COL LEGE. Corvallis, Dec. 21. (Special.) Oregon weed pests, particularly Canada thistle, which is said to be giving farmers more trouble than any other weed, will be considered during Farmers' week, December 29 to January 3, in connection with the farm crops programme. Surveys in the Willamette valley last season showed the Canada this tle to be a serious menace to crops. John R. Nevius, instructor in farm crops, in charge of weed eradication methods, will tell how to combat this and other perennials. Camp Amusements Authorized. TACOMA, cial.) Camp Wash., Lewis Dec. can 21. (Spe create its PROVINCE of ONTARIO (Dominion of Canada) TKN TEAR m GOLD BUNDS AT PRIC13 TO YIELD ;.- These bonds are payable, both principal and interest, in United States gold coin in New York. DENOMINATIONS $1000 These are a direct and primary obligation of the entire Province of Ontario, which is by far the most important in Canada. Its resources are so extensive and its bonded debt so small, compared with Its assessed valuation, that we do not hesi tate to give this issue our very highest recommendation. We consider it- one of the most remarkable opportunities for investment in a high-grade bond ever offered. Complete Information furnished on request. BOND DEPT. Ladd & Tilton Bank Oldest in the Northwest. WASHINGTON AND THIRD 1 BMM9MMM Bonds Make Ideal Christmas Presents Place Reservations Now for January Investment Years of Experience Yours for the Asking In the buying and selling of securities one needs judgment born of experience. That is what our counsel is based on and it is yours without charge or obligation. Here is our ideal of service to give conscientious advice in matters of investment. Our current offering list embraces 40 issues of Pacific North west municipal bonds, yielding from 4.50 to 6 per cent; 8 conser vative corporation securities, yielding from 6.125 to 7.22 per cent, and a group of high grade foreign bonds, yielding from 6 to more than 7 per cent. Circulars gladly furnished on request. umbermerxs rus1 (o. Sar Fravrvcisco Bords -Trusts- Acceptances Capital & surplus 'boo.ooo Lumbermens Bldq. Porlarvd. Oreqor. Seattle EXEMPT FROM FEDERAL INCOME TAX WE OWN AND OFFER, SUBJECT TO PRIOR SALE $930,000 Teel Irrigation District Umatilla County, Oregon 6 Serial Gold Coupon Bonds Interest payable January 1 and July 1 at the office of the County Treasurer of Uma tilla County, Oregon, or at the Fiscal Agency of the State of Oregon in New York ; bonds callable at any interest payment date and upon ninety days' published notice at 103 and accrued interest. Denominations S500 and $1000 Bonds adjudicated and confirmed by the Circuit Court of Umatilla County, Ore gon, and legality approved by Messrs. Teal, Minor & Winfree of Portland, Oregon, and by the Hon. Geo. M. Brown, Attorney-General of the State of Oregon. Engineering features and water supply have been approved by the well-know n consulting engineers and irrigation authorities, Mr. A. J. Wiley of Boise, Idaho, and Mr. A. Wold of Seattle, Washington. In making the purchase of these bonds, we have also had the benefit of the advice and judgment of Mr. O. Laurgaard, now City Engineer of Portland, Oregon, and for merly consulting engineer on many irrigation projects in the states of Oregon and Washington. These bonds have been certified by the Irrigation Securities Commission of Ore gon as legal investments in Oregon for "all trust funds and for the funds of all insurance companies, banks, both commercial and savings, trust companies and bond ing companies, and any funds which may be invested in county, municipal or school district bonds" and the bonds "may be deposited as security for the performance of any act when the bonds of any county, city, school district or other municipality may be so deposited." We summarize the following from a letter written us by J. Frank Spinning, Secretary of the District: The bonds are secured by 16,500 acres of fertile alfalfa land located in a solid body near Echo, Umatilla County, Oregon, the value of which, together with the water, has been certified by the State Irrigation Commission to be not less than two times the amount of the authorized bonds. The interest on the bonds for the first three years has been personally guaran teed by a group of land owners whose net worth is estimated to be above $1,500,000, and in addition application will be made to the State to guarantee the interest for a period of five years. The interest and principal on the bonds will be paid by taxes collected by the County Assessor, the same as State and County taxes, and are a lien superior to any mortgage (the land within the district is at present free from mortgages). An assessment of $8.00 per acre has been levied and unanimously assented to by the land owners for the year 1920 to assist in early completion of the project. AMOUNTS AND MATURITIES Amount Principal Due $55,000.00 July 1, 1929 $66,000.00 .July 1, 1930 $77,000.00 July 1, 1931 $88,000.00 July 1, 1932 $99,000.00 July 1, 1933 Amount $110,000.00. . Principal Due July 1, 1934 $121,000.00 July 1, 1935 $143,000.00 July 1, 1936 $171,000.00 July 1, 1937 Price to Yield 6 No Income Tax to Pay G. E. Miller & Company GOVERNMENT, MUNICIPAL AND CORPORATION BONDS 204-6 Northwestern Bank Building Portland, Oregon Telephone Main 4195 Write, Telephone or Wire your order at our expense. Full details regarding this issue upon request. The Bank of California NATIONAL ASSOCIATION Founded 1864 Head Office, San Francisco Capital, Surplus and Undivided Profits $17,000,000 Under authority of the Federal Reserve Act this bank is now empowered to perform all kinds of fiduciary service and iransact any Trust business authorized by law. By appoint ment or agreement, it will act in the following capacities: Trustee Administrator or Executor Fiscal Agent or Escrow Agent Receiver or Assignee Registrar or Transfer Agent We shall be glad to discuss or correspond with those inter ested in business of the above character, as well as banking in all its phase.-. W PORTLAND BRANCH Third and Stark Streets A. MACRAE, Mgr. J. T. BURTCHAELL, Asst. Mgr. PORTLAND, OREGON BONDS To Yield 5 Per Cent. No Income Tax to Pay. Telephone Main 715 and get details. CLARK, KENDALL 6 CO. INC. MUNICIPAL BONDS From the States of OREGON WASHINGTON IDAHO To Net 4.90 to 6.50 Exempt From Present Income Tax L ftevereaux c(ompany 87 Sixth Street Ground Floor Wells-Fargo Building Broadway 104 GOVERNMENT, CORPORATION AND MUNICIPAL BONDS TO NET FROM 5 TO 7 PREFERRED STOCKS LOCAL SECURITIES ROBERTSON & EWING 207-8 NORTHWESTERN BANK BLDG.