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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (April 9, 1920)
THE MORNING OREGON! AN. FRIDAY, APRIL, 9, 1920 VANDERL1P-TELLS i WC s E Cheap Money Is Blamed for -Speculative Orgy. FINANCIAL PERIL BARED EMINENT ECONOMIST AND FINANCIER HOLDS SECRETARY OF TREASURY RESPONSIBLE FOR CREDIT INFLATION. Income Tax Based on Expenditures Favored by Economist In Portland Address. Frank A. Vanderlip, eminent Amer ican economist and financier, Wednes day night laid the responsibility for inflation of finance and credits In this country at the door of the treasury department at "Washington. He said that the secretary of the treasury in sisted on keeping1 discount rates low because the United States would have to borrow large sums of money and wanted it at low interest rates. And the discount rates fixed and held low by the federal reserve bank, made money cheap for everyone who had.( credit and the result was wild spec ulative operations induced thereby. "The secretary op the treasury," said Mr. Vanderlip at a banquet tendered himby the Portland Chamber of Com merce, "good and able man that he was, could not see beyond the problem on his desk and would not see the certain economic effect of in sisting on keeping rates for money too low." He touched a responsive topic. when ho expressed favor for an income tax based upon expenditures rather than the present law that induces people to Invest their incomes in tax-exempt securities. Unless the railroads can secure capital for necessary equip ment and improvements to take care of traffic requirements of the coun try, he declared, the certain outcome will be to drift into nationalization. -- World Leadership Lost . It was his declaration that world leadership was laid at the feet of the United States on Armistice day, but that we were too busy in the effort to make a dollar to' stoop to pick it up and it was a 40-cent dollar. He expressed the fear that it may de preciate to a 30-cent dollar, but he views the outcome with the optimism of a great faith in the American peo ple believes that the less than 60 per cent efficiency of labor will swing back to more nearly 100 per cent, and hopes, that the good common sense of the people will prevail in bringing back more reasonable standards of industry and labor. Mr. Vanderlip arrived from the east Wednesday afternoon over the Union Pacific railroad, of which he is a di rector, and the physical condition of which is a matter of personal interest to him. He stepped from the train at Cascade Locks, accompanied by H. E. Benedict of New York, where they were met by J. C. Ainsworth and Sam uel Lancaster. It was his first trip over the Columbia river highway. At "Menucha," the home of Julius Meier, the party was joined by H. B. Van Duier, president of the Chamber of Commerce, Emery Olmstead and E. Q Crawford. Arriving at the Arling ton club at 5 o'clock, Mr. Vanderlip was enabled to get a short rest be fore the dinner hour. President Van Duzer was brief in his omening remarks. A. L. Mills, president of the First National bank. declared that the of t-repeate'' state ment that there Is no chance for a man to rise from a modest beginning in this, country-to wealth Is refuted by the career of Mr. Vanderlip.. He recounted the beginning as a black smith's helper at the wage of 75 cents a day and then advancement from the position of a newspaper reporter at Ii3 years of age to the presidency of the largest bank in America at 45. Mr. Vanderlip said, in part: "I am going to talk to you tonight on some of the economic problems of the day, for L think most of our problems have their roots in economic questions. We are told that we- fought the war to make the world safe for democracy. I want to tell you it can't be safe unless that democracy is in telligent. . Business Is Profitable. "We are in a period of great pros perity. Prices are on a level which makes business profitable. But I be lieve we are in a condition that will astand analysts. We have the fullest employment of labor, but. we have the lowest efficiency. No one who wants to work need be idle. We have the largest incomes in all 'our history, but in the face of this there is no money for investment. We have the highest wages we have ever had in terms of dollars, but the highest prices of goods. We have ?jullt up the shipping industry and have built dships faster than ever before. Bu with all these billions of dollars' worth of ships we have no shipping policy. I "With the government income far in excess of any previous time, we are still running behind by expenses that exceed revenues by 8100,000,000 a month. "We have a condition of public sen ttme"nt that is alarming. There ' is waste and extravagance and reckless spending by those who are earning high wages. "But we haven't ample capital. That is illustrated by the railroads. At the beginning of the war only one third of 1 per cent of the people of this country owned corporation se curities. Capitalist Looks for Exemption. "Today with the income tax taking 79 per cent of the income of the capi talist, he is looking for tax-exempt securities. So we have no adventur ous dollars from that source. "What of the persons of smaller in- corses? Many of those who have gone into industries have been spending in a way such as the world has never seen before. We need to develop a spirit of thrift. All the goods in tne world are either goodJ of consumpt ion things we eal or wear, or goods of production machinery, railroads, schools. "The nation that consumes all it produces is living at as high a stand ard as it can hope to attain. "Capital in itself is an inert thing. Tou must connect with it production. But labor Is inefficient and producing but 60 per cent of what it could. "I am not one of those who feel that there is no hope ot progress bei tween employers and labor. I am optimistic about the labor situation. I believe we may get that 60 per cent production rell up to 100. "It is just as necessary that we un derstand some of these economic laws as that we understand the laws of gravity. If we don't understand them we may get into trouble. There is the law of Inflation. Inflation Cannes Hise. - "Inflation has been the major rea son for the rise in prices and has raised them 2 Va times since 1914. The I f . ' v - - I fs , : . , : t H ' i -1 I - i, - ,f - I ! "I 1 - ' , ' -f I . I " ''' ' I i I 1 .-y-..L M... ' . Publishers Say Lack Workers Imminent. FRANK A. VANDERLIP, rising prices have given the profiteer his chance to n.ale great profits. The major cause has been the great in crease in bank credits. That enabled us to add so much that we have dou bled our bank deposits and increased currency 79 per cent. "The federal reserve law Is; In my judgment.- the most beneficent act we have In our financial structure. But it opened the door for inflation. "The protection against inflation was the discount rate, but the men of the treasury who wanted to keep rates low insisted on keeping the rate down for the protection of the treasury in selling its securities. The result was that every savings bank deposit has been cut in half, meas ured by its purchasing power. I would lay a tax on expenditures rather than upon incomes. "The railroads came back to their owners in a depleted state, and it will require 3,000,000,000 to put them in good physical condition. With a government so profligate that it' is running behind a million dollars a month, we have turned sentimental and are wanting to give a bonus tc soldiers of two billions not because they want it. but, I believe, because the politicians think they want it. European Condition Appals. "The countries of Europe came out of the war to face a tremendous loss of man-power, loss of morale, trade diverted. But they also found their credit depleted. We did accept the credit last year and our government paid up six or seven hundred millions of our war obligations. "There has been a good deal of re covery in France and England. In central Europe the people are ragged. Poland, with 8,000,000 spindles, has more than 6.000,000 of them idle for lack of material. Germany is in revo lution, as is Russia. . "Germany in revolution cannot pay indemnities to France.. She roust get to work' in order to pay. "World leadership was laid at 'our feet Armistice day, and we never stooped to pick it up. We were too busy 'making a dollar and it was a 40-cent dollar."- .. HYAN FILES FOR SENATE FORMER DEPUTY; TREASURY TO OPPOSE SCIICEBEL, Constructive Legislation and Re - dnction of Taxes Among Aims of Candidate. BOARD MAY INSTALL PRINTING AT BENSON of PLANT TO BE HIGH QRADE Action Taken After Directors Give Much Consideration to Needs of - Community. WOMAN CHOKED TO DEATH Young Rochester, X. Y., Man Con fesses Murder of Sweetheart. ROCHESTER, X. Y., April 8. (Spe cial.) -Antonio Mangiavillano, 85,- a chauffeur, one of Mrs. Frances De lorme's sweethearts, last:.- rj.ight con fessed to having kill9d her after a grilling by Captain William Whaley and District Attorney William F. Love. He admitted that he choked the woman to death in the taxicab in which they were riding on Ridge road in Irondequoit Sunday night. He absolved Sarafino d'Accorso, driver ot the car, with any part in the crime. Mangiavillano admitted that he had known Mrs. Delorme f or - some time and that he had been very fond of her. He said their feelings toward each other were apparently mutual. He met her Sunday night and with D'Accorso dined at Lucia Leonard's North street hotel. Later they went for a taxicab ride. During the ride Mrs, Delorme accused him of being too friendly with other women. A quarrel ensued, in which Mangiavil lano declared the 1 woman heaped abuse upon him. He suddenly becami enraged beyond control and seized her by the throat. He choked her until she was dead. , SALEM, Or., April 8. (Special.) Thomas F. Ryan, assistant to T. B. Kay during the latter's administra tion as state treasurer, will oppose Chris Schuebe! for state senator from Clackamas county at the republican primary election, according to his dec laration of candidacy filed with the secretary of state yesterday. "I have no.-interests to serve ex cepting those beneficial to all the peo ple," says Mr. Ryan in his platform. "I will use my ability and knowledge of state affairs, acquired as deputy state treasurer and county judge, to pass constructive legislation that will promote the moral and material wel fare of farmer, dairyman, manufac turer, business man and laborer. 1 will introduce measures to safeguard the trust funds of the state and re quire sensible economy in state de partments and in the transaction of state and county business. I favor legislation that will reduce taxation, bring about co-operation of labor and capital and Insure justice for our boys who defended our flag." Other candidates who filed their declarations of candidacy yesterday follow: E. H. Belknap. Monroe, for repub lican nomination for representative from the 10th representative district. K. ir. Williams. 927 Grand avenue. Portland, for republican nomination for representative from the 18th rep resentative district. William G. Hare, Hillsboro. for re- ublican nomination for state senator from the 11th senatorial district. A. B. Flint, Scholls. for the republi can nomination for representative from the 15th representative district. George W. Denman, Corvallis, for republican nomination for district at torney of Benton county. James T. Brand. Marsh field, for the epublican. nomination for district at torney of Coos county. John H. Carson, Salem, for republi can nomination for district attorney o Marlon county. Preliminary steps toward the in stallation in Benson Polytechnic school of a printing department, fully equipped with modern mahinery and in. charge of the most competent in structors obtainable, were taken Wednesday night at a meeting of the board of education of school district No. 1. The meeting was attended by O. M. Plummer, George M. Orton, A. C. Newell and Dr. E. A, Sommer, di rectors, and representatives of the Portland Newspaper Publishers' asso elation, including the four city dailies and the Portland branch of the United Typothetae, comprised of 65 of the largest commercial printing plants here. M. E. Crumpacker appeared as at torney for both organizations, and in tneir oehair submitted a detailed statement of the situation which con fronts the newspaper and commercial plants. Others present included Don old Sterling, Philip L. Jackson and Macdonald Potts, representing the Oregon Journal; L. R. Wheeler, the Portland Telegram; E. W. Jorgenson, tne fortland News, and Edgar B. Piper, The Oregonian. Publishers Kxplmin Nrrda. In addition to the reading- of the detailed statement, submitted y the two organizations. Messrs. Crura packer and Piper made brief state ments of the situation regarding the urgent need of more competent print ers in the newspapers and commercial plants, ana pointed out! to the mem bers of the board the fact that there should be provided by the district means whereby young men and wom en wishing to become proficient in the printing and allied trades may have the opportunity. It was explained that the general public is a party deeply interested in this matter because of the fact that a vast amount of the business of the community, as well as information of importance to all, depends upon the supply being adequate to meet the needs, not only at the present time, but in the future. Members of the board who were present, having given the subject much thought during the past few months particularly, were of one mind, especially after hearing of the conditions that prevail at this time, and Director Newill introduced the following resolution. which was unanimously adopted, being seconded by Director Sommer: Inasmuch as It hu been demonstrated that this community is in diro neod of add ing the printing; trade to our vocational school system. Resolved, That It be the policy of the board of directors of school district No. 1 to consider definitely and seriously the recommendations of a committee of three, appointed to report concerning- the equip ment and admlnlftratloo ot such addition. This committee is to be appointed as fol lows: One member to be named by the board ot education, one by the Portland Newspaper Publishers' association and one by the United Typothetae, Portland branch Orton Represents Schools. The directors decided upon George M. Orton as the representative of the school board on the committee. It is expected that the two other members 11 be named with little delay and that the work of the committee will be begun. The following Is a partial text of he statement submitted to the board last mgnt. Portland Electrotype & Stereotype com pany, Portland Linotyping company,. Port- House company. Portland Printing com- J DIDV. Trif TvtlMAllln. ...... - n 1 - - - - 3 ""i I'All , . r Rogers, printer; Ryder Printing company, K. J. Schlegel, typesttter; Schraid Lino typing company, Schwab Printing com pany. Sweeney. Varnev Xr Rtp.,,), t . Torrey & Alexander, Watson Printing coni- " . e. Lt, a. wnue & -.o. . Oregon Print ing company, and respectfully represent to your honored body as follows: That there exists at this time a con dition in the newspapers and allied print ing trades in the city of Portland and throughout the country generally, by rea son of which the ultimate exhaustion of an aaequaie supply oi competent journey- I men printers is not unlikely. This con dition threatens not only the future of these institutions.1 but the public In gen eral as well. The public depends to a : large extent opon the newspapers for the ' dissemination . of Information and nwa ! The business Interests of this city are also aixecieo. oy reason or tne ract that they are vitally dependent for their success upon the commercial printing establish ments for use of the products of these es- taonsnments in tnetr Dusmesa. An Insti tution which operates under a condition by virtue of which prescience discloses the exhaustion of .necessarily well trained workmen can see only prospective ruin. There are at the present time In the city of Portland approximately 378 Jour neymen printers employed In the allied printing trades Including four newspapers and 65 commercial printing establishments. This numbsr meets the present require ments as to the supply of competent men needed In the industry. Under rules and restrictions imposed upon this Industry the number of apprentices employed there in Is held to a minimum amount to the extent that at the present time there are not over 34 apprentices employed In the newspapers and allied printing trades in this city. The present opportunities offered for training of competent Journeymen ih this city are Indeed scant. There is established In connection with the Jefferson high school of this city a so-called printing de partment which Is Inadequately equipped and Is generally recognized as lacking necessary facilities and curriculum, as well as competent instructors, for the proper training' of Journeymen printers. Ths course given at that institution In the printing department is meagre and super ficial and is not Intended to turn out men fully equipped as journeymen printers. The only other instruction which Is of fered Is In the apprenticeship training which is given to the apprentices who are employed in the different printing institu tions of this city. Printing- Scboor Advised. In view of the above circumstances, your petitioners suggest the advisability at this time of establishing as part ot the Benson Polytechnic school a printing department, and to prescribe a comprehensive course of training of a duration of not less than three years and to provide competent In structors and necessary machinery and equipment for said course. The serious ness of the present situation and the neoes. slty of securing the comprehensive and in telligent administration of this depar-roent suggests that a committee comprised of three persons, one to be selected by the Portland Nuwspaper Publishers' associa tion, one by the Portland branch of the United Typothetae and the third to be ap proved bv your body, be appointed to supervise and administer this pnnllrg'de- partment; that this committee sha,i have power to determine the nature and length of the course to ba pursued, the machinery and equipment necessary and to designate the Instructors to be placed In cliargs This committee shall have general super visory and administrative authority over the said department and to act without compensation. - W herefore, your petitioners respectfully request: 1. That a department of printing be established In conjunction with the Ben son Polytechnic school of this city pro viding a minimum course of three years; 2 That a comprehensive course oi study and training be established In con- Junction with said department; 3. That sufficient machinery ana equip ment be assembled to allow proper train ing of students under the course of study and training as determined; 4. That the by-product of this depart ment be confined in Its distribution to the United States government and to such work as may be required by school dis trict r-o. 1. 5. That a committee of three persons be appointed to supervise and administer the said department, to determine the In structing personnel and to do any and 11 acta and things which are properly delegable by your board to any such com mittee. That said committee shall con sist of one representative of the Portland Newspaper Publishers' association, one representative of the Portland branch or the United Typothetae of America, and the third to be approved by your body. M. E. C RUM PACK KK. Attorney for Petitioners. 1THE NOW PLAYING V 7mt ' m liw- --' rfp: tj. V " V."r No more gripping; drama has v0-' ever been flashed upon the ! vV-fK . , li!- ... silver screen than this mod- r- e4 ern rUcTired play of strong - VvC" .men, strong emotions, a I ""'a stronger iorces ot ngnt ana El justice entwined in a beauti- H tO-" ISjs ful love story that sets aglow y ELMER SCHELL DROWNED Cotta "o drove Lumber Worker Falls From Log Into Pond. COTTAGE GROVE. Or., Apr.il 8. (Special.) Elmer Schell, 26 years old and single, was drowned yesterday in the pond of -the Pallett Lumber com pany at Divide. He was able to swim but little and had been In charge the pond but an hour when he fell into the water where it was over his heaa. Harold Dugan got hold of th drowning man once, but the log upon which Dugan -was balancing hiuHself was pulled under the water, Dugan also being thrown into the water and having difficulty in saving himself. Schell bad been employed by th company about a month, but had been put on the job in which he lost his life only this morning. He ias one of 12 children of Mr. and Mrs. J. H. Scbell of this city. Phone your want ada to The Orego nian. Main 7070, A 6095. SINCLAIR DENIES CHARGE STORY OF DONATION XO WOOD FUND DECLARED FALSE. To the board of directors of ichnnl trict No. 1, Multnomah county. Gentle men: Now come the following Dtitlonr' 1. The Portland Newspaper Publishers' association, comprised of The Oregonian, me Oregon journal, tne Portland Tele gram and the Portland laiiy News. news. papers of general circulation in the city !. The Portland branch of ths Unite Typothetae of America, comprised of the lonowing institutions engaged in the com mercial printing business in the city of Portland: Acorn Press, American Type founders company, Anderson Printing corn- pang, Ansley Printing company, the Ar- caay rress. salley & Dempscy. printers Auterson-Bradley company, K. W. Baltes at to., jaeaiue & Molmann, Inc.; Boyet Printing company, Bushong A Co., Brock man Printing tc Stationery company. H. o. Browne ac Co., Carlson Printing company, Chausse-Prudhomme company, Columbia Printing company. Commercial Printing company, Davis & Holrnan, Inc.; the Doxey Printing company, Dunham Printing com. pany, Dygert A Co.. Blast Side Printing company, ixtass at rruanomme company Hansen Printing company, ilarnden aV Co printers; the- Holly Press. Irwln-Hodson company, tna ivy press, James, Kerns 4 ADDott company; jolly-Katelle, printers A. E- Kern & Co., Kllham Statlonerv A Printing company, Korradi Printing com pany, Kubli-Howell company, Kundret & Bowman. Lane-Miles ' Standiah company, Iange & Erickson, the A. J. Lenon com pany. Lincoln A Allen. Inc.; Marsh Print ing company Meredith Monotype company. Metropolitan Pruning company. Modern Printing company. Multnomah Printing company, National Colortype company. Nelson Printing company. Oregon City Enterprise. Ott Bros. Printing company. Pacific stationery - ac Printing company. BOY SUING FDR 52003 MILES ECKEKSOX KEPT WEEK IX JAIL BY MISTAKE. Court Takes Time to Conslde Mo tion Orfered by Defendants for Directed Verdict. "I'd been told that they didn't do justice ,to me!" Miles A. Eckerson, 16-year-old youth, explained was his reason for bringing a J2000 damage suit against Sheriff Hurlburt,' Jailer Roy Kendall, former Probation Of ficer A. A. Bailey and Patrolman A. McFarlane. alleging false arrest and imprisonment, during testimony on the witness stand in the court of Cir cuit Judge Gatens Wednesday. The boy admitted that Bailey had given him a dollar or so at his re lease, that his incarceration for i week instead of a night in the vicin- ltv of Jailbirds had not caused much resentment at the time, but that when he talked the matter over later with a cousin, J. W. Richards, his indig nation was aroused. Attorney B. A. Green, -who had helped him get his release, brought the suit. . Eckerson was the admitted victim of a mistake somewhere between the police department, county jail and juvenile court, for he had spent week -in Jail in the juvenile quar ters in October, 1918, when he was supposed to have remained there but ons night, having. been picked up by Patrolman' McFarlane as a homeless youngster who had arrived in Port Head of Oil Corporation Emphatic ally Repudiates Any Connection With Campaign Contributions. CHICAGO, 111., April 8 (Special.)- H. F. Sinclair of the Sinclair Con solidated Oil corporation denies the recent story of the New York World that he is one of the contributors to the "billion-dollar fund" said to have been raised in the interest of the Wood candidacy for the republican presidential .nomination. In a letter to William Cooper Proc tor, chairman of the Leonard Wood campaign committee, Mr. Sinclair said: "My attention has been directed to statements that I have contributed large sums of money to the Leonard Wood campaign. These statements doubtless did not emanate from your office, but I wish you to know def initely that I have not contributed or. agreed to contribute one cent directly or indirectly to or in Detiair or the Leonard Wood campaign, nor has any such contribution been made or agreed to by the Sinclair Consolidated Oil corporation or any of its subsid iaries; nor has any other company or concern in which I have a voice in the management thereof,- to my knowledge, made or agreed to make any such contribution." Forty Consumptives Homeless. DENVER,' April 8. Forty men pa-J tients at the Jewish Consumptive Re lief society's institution were made homeless by a fire which destroyed their building. The loss was esti- I mated at 15,000. There Is an Electric Store Where Prices Are Lower Electric Irons (complete with cord and stand) . .3.50 No. 14 House Wire (Saturday special) per foot. .2'2 Key Sockets (Saturday special) 50d , lb. Friction Tape. r. .35c Electric Light Globes, 10, 15, 25, 40-watt. ...... -35f Hot Shot Batteries . .2.90 Dry Cell Batteries (for door bells, gas engines) . ...452 Double Sockets (for lamp and electric iron) . SI. 20 Electric Light Extension (8-ft. cord and plug) .1.25 Flashlights (largest displays in Portland) . -95 to 4 - We Repair Your Flashlight Free of Charge We Guarantee Our Batteries Strictly Fresh Gas Mantles, Burners and Globes' We Repair Electric Irons and Electrical Appliances Special Equipment for Re-charging Magnetos Fishing Tackle Motor-Boat Engines EVINRUDE ELECTRIC STORE Evinrude Motors Electrical Supplies Phone Marshall 1763 211 Morrison, Near First. Look for the Sign, Electric This sensational drama i has received enthusiastic praise wherever it has been shown; yes, exuber ant praise has been ac corded this wonderful play, which is only right because it's the . ONE super-drama of years. 9 No more gripping drama has ever been flashed upon the silver screen than this mod ern rugged play of strong .men, strong emotions, stronger forces of right and justice entwined in a beauti ful love story that sets aglow every fiber in your being. iTou'U see men as they are women as they are inclined to be when the forces of na ture dictate. PATHE WEEKLY IDIR-ECTIOM 01s JEMSEN AMD VOM rf cRocHm COME EARLY land with SO cents and had no placa to sleep. McFarlane made no report on the lad after turning him over to the juvenile quarters in the county jail, the jailer did not know what he was in tor, and the juvenile court didn't know he was there, with the result that he stayed until Attorney Green, visiting- another prisoner, had his at tention attracted by the boy. Eckerson was picked up in the car barns at East Twenty-eighth and East Ankeny streets on a rainy night He had just come from Great Bend, Kan., he said, and was looklntT tor cousin named Jack Kichards.. The officer tried to find a place for him in the Fraier home for the nig-ht but was barred by the flu. The county jail was suggested as the next best thing and the boy was taken there as a guest, not a prisoner, but the next morning found as much dif ficulty in getting out as the mors permanent regular guests. Deputy City Attorney Stanley Myers pointment of Senator Jones as guar on behalf of the policeman, and Pep- I dlan." uty District Attorneys Bernard and Judge Dimick denied that he had Mowry on behalf of the other de fendants, but decision was postponed. FINANCIAL DEAL DENIED Relations With Deposed Guardian Scooted by Grant B. Dimick. OREGON CITY, Or.. April 8. .Spe cial.) Grant B. Dimick stated today he had not handled any of the funds of Miss . Hester M. O'Deil re cently, and no money belonging to her had been placed with him for in vestment by Walter B. Jones, state senator from Dane county, who has just been deposed by County Judge Taswell of Multnomah county as guardian of Miss O'Dell's estate. "We had some of Miss O'Dell's money and invested it for her. but Motions for directed verdicts were not for Mr. Jones." he said, "but the presented to the court Wednesday by account was closed prior to the ap- any financial Jones. relations with Mr. POWER RIGHT REQUESTED J. G. Kelley, Portland, Files for Reservoir on Santiam River. SALEM. Or., April 8. (Special.) J. G. Kelley of Portland has filed with the state engineer application for permission to construct what will be known as the Marion lake reser voir, at the headwaters of the north fork of the Santiam river, for the storage of 38,155 acres feet of water, and the appropriation of the stores water for the development of 26,636 hnrssnnwor In another filing Mr. Kelley asks for the appropriation of 600 second feet of water from the north fork of the Santiam river for the develop ment of 20.000 horsepower. I im ii 111 II i olSforifai'QstS GrQat3anks Where Commerce Finds Co-operation BUSINESS REQUIRES banking- just as bank-' ing- requires business in -order to keep going- and growing. There was a time when a banking connec tion represented little more to business than depository facilities. But as the commer cial needs of the country expanded banking kept pace. Today it func tions as the financial, helpmate to legitimate enterprise. :The United States National bank affords highly specialized departments in which business of local, territorial, national or international scope finds that necessary co-operation. UratedStafes National Baiikj Sipitrt and. Starl. Helpful Hints' Los in it a rt irird Check. When a bank "cer tifies" a check for y o n. It GUARAN TEES its payment. Therefore, when one is lost a bond is re quired from the maker before a new one is issued in its place. Certified checks should AL W A Y S be made payable to the order of a certain party instead of to "bearer."