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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (July 26, 1920)
14 THE MORNING OREGOXIAX, MONDAY, JUT A" 2G, 1920 ERA OF PROSPERITY SEEN IN BIG CROP Healthy Business, Financial Activity Is Forecast. OVER-PROWJCTION WANES Industry Will Continue to Be Af fected by Rail Difficulties for Indefinite Period. With political conventions in the background and botn presidential can didates regarded with confidence by the business interests of the country a Deriod of healthy actvity in .busi ness and financial circles is forecast, according to the latest summary of Knauth, Nachod & Kuhne, New York. Prospects of large crops encourage retailers throughout the entire coun try to expect a fairly healthy trade, based upon prosperity among the farmers, s'avs the bulletin. There Is no evidence that the activity of bust ness is dependent alone upon a reduc tlon of Drices. There is no over production of commodities. The sum mary continues: Industry will, however, continue to feel the effeet of railroad transpor tation difficulties for some time. This is particularly true or the steel ana other basic industries which are ex periencing serious difficulty in secur ing coal supplies and prompt deliv ery of raw and finished materials. Situation Held Temporary. This situation, however, promises to be temporary, pending such time as the problems existing in railroad af fairs are solved, following the deci sion of the interstate commerce com misssion in respect to higher freight rates. The commission is confidently expected to take provision for satis fying the Just claims of the railroads. Nothing will do more to bring about again the proper functioning of busi ness, or go farther In relieving the strain on the credit situation. The federal bank statements con tinue to be disappointing and, pend ing the correction of the transporta tion situation the federal reserve bank may be forced to place further restrictions on credit, through higher 'discount rates and a stricter interpre tation of what constitutes an essen tial loan. Financing of the crops this autumn promises unusual difficulties, both on account of the prevailing dif ficulty in rail transport, and the fact that assistance from eastern banks will probably be limited, due to the necessity of utilizing their resources largely in relieving the money strin gency in this section. During the period under review the fluctuations in the foreign exchange market have been frequent, but not quite so violent as have recently oc curred. It was only natural that the anticipated meeting of the allied and Oerman commissions at Spa, Belgium, should put a damper on the specula tive desire and influence the con servative bankers to reduce their positions to a minimum. Exchange Begin to Steady. The rise in the French and Italian exchanges was fully maintained, while sterling exchange in anticipa tion of large offerings of grain and cotton bills next month .declined from 399 ,i on the 21!d of June to 391 on July"l4. A speculative rise in Serbian and Roumanian exchange, bringing the former up to 6.45 and the latter to 2.92 dollar per hundred of the unit, was accounted for by the entire ab e.r.,. of nfforines from the European nut in An t Marks held steady around 2.60, closing at his figure. "The federal reserve estimates that the present inflation of money ond credit amounts to approximately 13 billions currency inflation," states P. A. Nasley of the business research department, State Bank of Portland, in discussing the currency situation and high cost of living. "These figures are arrived at by rin:r the bank deposits from 1914 to 1919 with the deposits of the five-year period previous to 1914 and thereby estimating what the normal Increase should be. We are above the estimates of that normal increase by $13, 000,000.000. "Bv buvtn what we don't noed ruttintr monsy into non-productive channels or paying more for necessi ties than they are normally worth, in flation is caused. Money Demand Heavy. "The demand for money is tremen dous. Every day bankers are turning down requests for loans. n,verytoay seems to want to expand on borrowed money. Some want to borrow money to buv automobiles, some to build ' houses, some to tulld new factories, Many of these requests are to pro- duoi or procure more luxuries. Last year the people of the United States arc- said to have spent $5,000,000,000 fcr coods upon which a luxury tax v.-bs paid to the government. "The phenomenal demand at this time for practically everything is caused by a worlJ shortage. The vorld shortage hi-.? been caused by the war. whicn not only destroyed areut amounts of accumulated wealth or property, but also stoppeu produc tion in nuiv lines in many of the laisest countries. As we return to n-imal lubub of living snd spending the present nfiat on will dwindle to ti vornial basis i-I -ound uurmb. "The dollar at present is worth only about half of its former value i. e., it will buy only about half of what it would five years ago. Whil wastes have doubled in most Indus - rles the worker Is no better off. The ' only way to win out in the present situation is to save. Every dollar saved now will double its presen value when conditions again return to normal." Bond Mnrt Active. With tho sale of two municipal IS' sues In their entirely and substantial lots of a number of other issues dur ini? the week, the Preeman, Smith & Camp company, bond dealers of Port land and Shti Francisco, declare that the bond market was unusually ac tive, showing Jistti'ct signs of lm provement. The rapidity with which some of there ijsues are moving shows, declare company officials, that the investing public has begun realize that bonds are selling at th lowest prices ever known in the his tory of the United States, and are tak ins advantage of this remarkable condition with the idea of realizing profit on their investment upon the return to normal times. The company sold an entire issue of bonds of the city of Sonoma, Cat and a day later sold a large block the city of Vancouver, B. C. bonds which they held. Tho company also participated in the government ' of Switzerland loan, the Armour & Co. loan and some Pacific coast syndicate loans. "Our business during the week said Frank W. Camp of the local office, "shows that the July invest niont demand has materialized. Th success of the Swiss loan, the Armour iohu nnd the interest In the Sinclai . 'onsc'lidated note issue is concrete ev . we of th" iMIt'i'i" of investor OREGON CITY MANUFACTURING COMPANY EMPLOYES PICNIC AT CRYSTAL LAKE 'PARK Two Thousand Men, Women and Children Assemble at Outing Near Milwaukie and Enjoy Land and Water Games and Contests for Which Prizes Are Awarded Dancing in Evening Closes Happy Day. OREGON OREGON CITY. Or., July 24. (Spe cial.) Two thousand people at tended the third annual outiner nd basket picnic for the employes of the Oregon' City Manufacturing com pany at Crystal Lake park, Mllwau- le, Saturday. Special cars carrying the morry throng to the picnic grounds left here 8 A. M., employes congregating at th company's plant "ready for the rip. The weather at the time of the tart was threatening but all were in the best of spirits and "game," wheth- the rain came down in torrents or the sun shone. The weather was ideal for the ball games that were first on the programme. Tnese started at 9 clock. The first was married -then vs. single men. and the score resulted n 16 to 0 in favor of the singles, who were awarded J15. At 11 o'clock a ball came between Oregon City Factory and the Portland factory of four innings and for a $15 prize was begun. Never have the women put on a belter game, and the men had to take a back seat. The women were greeted with cheers dur- the entire game, and especially whsn they made a run. During the first part of the game the Portland girls were in the lead, but the home girls won their laurels In the third nning, when they made their heaviest score, the game resulting: 5 to 3 in favor of Oregon City. Refreshments Served Free. Twelve o'clock arriving, all were ready to part.ike of the lunches that had been taken In well-filled baskets, and all enjoyed the refreshments gen- rously served free of charge by the management hct coffee, buttermilk, soda pop and ice cream. Gallon after gallon of ice cream was served In the cones, and soda pop by the case was partaken or, and there was a big sup ply to serve the picnickers during the entire day and niKht. At 1 o'clock a tug-of-war, four earns to coatest, was the amusement This was one of the most exciting events of the day, and resulted in the weavers winning first and the gar ment factory second. The 50-yard dash for men remilfoil- Gordon Fauley. first; Lisle Curran, second; T. May. third. Other events were: Ladies' 50-yard dash Margaret Yeager, toward new offerings. The Bank of New Tork and others state that we are now in a period of low securlty pricet and that Investment securities have never before sold at prices equaling today's or on such a high In come basis when high-grade munici pal corporation bonds are selling to net investors as much as 8 per cent. Yields Attract Investors. "Such yields are attractive today but become even more so because the purchasing power of the dollar will increase in direct proportion as the price of commodities generally de creases. An ultimate decline in com modities is not only inevitable but al ready apparent in many lines. It is therefore reasonable to assume that an investment made now yielding, say. 8ti per cent, will have a liigher purchasing power a few years hence or upon a return to normal times. it is interesting to note that sav ings ianks In the east are about ready to turn their attention away from lib erty oonds in order to consider some of the remarkably low priced state, county and municipal bonds." The regular quarterly dividend of Hi per cent on the preferred capital stock of. the Atlas Powder companv has been declared payable August 2, 1920, to stockholders of record at the close of business on Tuesday, July 20. A growing appreciation of the ex cellent investment features of north west municipal bonds on the part of investors has. brought about a brisk movement in th.-se securities, states John L. Etheridge, president of Morris Brothers, Inc. "The general prosperity and devel opment of the northwest is a factor in the municipal bond market," said Mr. Etheridge. Low Price Due to Rise. -Continued low prices on munici pals, combined with the remarkably high yields now afforded, is a nota ble feature of the present situation. That this will not last very long is the concensus of expert opinion. There is no assurance that the period of opportunity will continue for any definite time: it may end quickly." Bulletin No. 181. just issued by Morris Brothers, Inc., In booklet form, contains detailed descriptions of the issues owned and offered by the firm and is beine sent out upon request. & Blyth, Witter & Co. are offering their participation in 810,000,000 issue of Pan-American, Petroleum & Trans port company. These are a first lien marine equipment bond, a closed mort gage on 10 tank steamships. , They are also a general obligation of the Pan-American Petroleum & Transport company and have an attractive con vertible privilege into the common stock of the company. Securities Yield Good. The two previous issues of con vertible securities of this company have been very profitable to the hold ers. First, thp pnnit ty'q pr"ffrred ... f CITY AND PORTLAND GIRLS' BASEBALL TEAM, first; third Elsie Rauch, second; Emma Schultz, " Olrls' GO-yard dash Dorothy firft; Grace Dougherty, second. Wilson, Boys' 50-yard dash William Rosenthal, first; Lynn Hatch, second. Clothespin race Kmma Schroetlln. first. The department relay race, both men and women taking part, was for a handsome trophy cup donated last year by A. R Jacobs, president of the company, and won at that time by the spinning deparcment. This was again won by the spinners, who have some of the fastest runners in the county. Women Take Part In Eke Race. Fresh eggs were "on hand to be used in the egg race, in which the women took part. Tlie first prize was award ed to Margaret Ytcser; second, Emma Schroetlln, and third, Margaret Gerber Great enthusiasm was manifested among the 20C0 people when the relay race for the department managers was announced, as each employe has the highest respect for the superin tendents and all did their part In rooting. These were If. F. 'Tschirgi, Harry Wool:-ich, Fred Curran, Charles lyers. Lisle Curran, Thomas Carriso, Mr. Bernar. Charles Legler, winning team, anJ th-j losers are John Collie, Messrs, Runtoul, Miller, C. B. Wilson, u. Moots and M. Rothe. The men's 100-yard dash, also thor-I oughly enjoyed, resulted in Gordon Fauicy winning first place; Lisle Cur ran, second: Mark Sullivan, third. ' The 220-yard race, a special feature, was won by Gordon Fauley; T. May, second. During the boys' shoe race much amusement was caused whon a long box upon which the boys wore to be seated was "loaded" with several bat teries. As soon as the boys "sat" tliey soon "upHi.t," one of whom be lieved his shoi:s to be "loaded" with something, ami ran across the field, refusing to enter the rp.ee, and leav ing his shoes behind. He was soon convinced by one oi me fair ones that the shoes were not loaded hut the box was, and he hastened away, carrylns shoes and stockings, refusing to enter the race. Bruce Wiieon won first piize and Antoa Washo, second. M alrrmrl.in Coi teat Amnxlng. This was followed by the water melon :or:l-st, and no "coon" could get away with wat-jrmelcn any faster thai. thi:se kiddies did. Bii? nit-Ions were cut into quarter and placed on the long table and at a stock which was converted into com mon stock sold above $200 pen- share and was finally retired a few months ago. at J115. Second. $7,000,000 issue of Marine Equipment Convertible sixes, which were converted at J120 into the old common stock which sold at $233, says a statement issued by the company. These are a 7 per cent, 10-year bond selling at $94.60 to yield investors 7.80 per cent. . S. W. Strauss & Co. have just under written an amortized first morte-ne- 6 per cent serial bond issue of $1,000, 000 on the land, buildings, machinery and ' equipment of the Waring Hat Manufacturing corporation of Ton kers. N.'Y. The borrowing company, the Waring- Hat Manufacturing cor Secured by $247,000,000 Yakima, Lincoln, Adams and Whatcom Counties, Washington v In effect, that is what these general obligation bonds amount to. -Back of them stands pledged their great wealth, offering to investors not alone a high grade bond, but assurance of prompt payment of principal and interest without any worries or delays incident to private loans. 6 General Obligation Rarely, indeed, has it been our pleasure to offer such a splendid group of bonds as these lour issues comprise. The counties issuing them are substan tial, are rapidly developing and .derive their enormous wealth from such staple reserve as Bonds Due 1921-33. um Parkside Studio. signal the boys made a "dive." One dropped his into the dust, but this was the least of his troubles. He teemed thoroughly to enjoy the sea soning, and before he had partaken of his slice his ft-ce was covered with a coatirg of mud. Before the Lioys darted toward the melon, one of the superintendents good-naturedly said, "Let's beat the kids to the melon." Others felt the same, but the boys were the only ones to enter the contest. Billy Gray, one of the gayest :n the bunch, was the champion eater, while Joseph Laurs came In second for the honors. Earl Loney was awarded first place in the sack race; Roy Fitzgerald sec and, and E. B. Foulhs third. The com petition was close. W'uter Sports Enjoyed. Water sports followed the field sports, and many took part. There were divers who dived to the bottom of the lake and remained there until those witnessing the events became somewhat concerned, but they would make their appearance somewhere across the pool almost at the opposite end. The ladies were not slow in the fancy diving and swimming, and were graceful in this art. The apple race, one of tne most dif ficult races in the water, was entered by about eight of the best swimmers. A. Zaletel was awarded first piace; Fred Hayward second, and Arthur Rithe third. This was followed by the men's swimming race, when' Al Koseioleh was given first prize, Lird sall Ladd second,'--aiid Dan Brady third. The ladies' swimming race was en tered by two of the fairest swimmers, the first prize going to Edith Utter and the second '.o Evelyn Hampton, both of whom proved to be experts In this sport. Many entered the long-distance div ing. In which the first prize was awarded to Austin Selsby, the second to Jack Gelbert, and the third to A. Zaletel. Jack Gelbert was awarded first prize In the tub race, Al Kos crolek second, and Birdsall Ladd third. At 6;30 many partook of the luncheon and remained lor the eve ning, when dancing was the amuse ment. The prize waltz was won by Frances McGa.iuey and Mis. Ada Davry, and the step prize went to Wallace Mass and Miss Frances Mc. Kinnis. Excellent music was fur nished for the dancing. poration, was established 72 years ago by John T. Waring and has grown to its present size entirely from the re investment of surplus earnings-. The company is the largest manufacturer in the United States of medium-priced felt hats for men and women. - Anthon Eckern, vice-president of the State Bank of Portland has just returned from an automobile trip through eastern Oregon and the Hot Lake country. Mr. Eckern reports conditions excellent all the way. The whole of eastern Oregon expects a bumper grain crop. S & ii gret-r. ."mpi ror cash i dolman Fuel Co. Main ss. C0-3L I Adv WORTH OF PROPERTY IN Prices to Yield Net BONDS ARE INCOME TAX EXEMPT UrukuSaperMsionOrcm.s6iclWJu BONDS TRUSTS ACCEPTANCES Lumbermen's Bldg. SLAYER AT SEATTLE ELUDES TWO POSSES Rowboat Used by Fugitivejo Reach Mainland. 11-YEAR-OLD GIRL KILLED Jim Sphrrides Tells Daughter of Employer by Hurling Pltch ' fork. Into Her Body. SEATTLE. WTash.. July 23. (Spe cial.) Jim Sphyridis, for whom two posses of deputies with bloodhounds and East-Seattle residents combed the woods of Mercer Island' all Satur day night, left the island in a row boat and the search for hi rn ia now being conducted along the east shore of Lake Washington and as far in land as Fall3 City. Sphyridis is wanted for the mur der Saturday afternoon of Mary Jane Pappas, 11-year-old granddaughter of his employer, A. P. Pappas of Mer cer island. A pitchfork hurled by him lodged in the little girl's neck. She died 20 minutes later. Rowboat Ia Obtained. After the beach in the vicinity of Fruitland had been patroled all night. C. ' E. DeWry, a resident of Fruit land on tho east edge of Mercer Island, told the deputies that a man answering Sphyridis" description ob tained a boat from him about 9:30 o'clock Saturday night and started for the east shore of the lake in a direction,' that would land him at Beaux Arts village. The man told DeWry that he had a fruit ranch across the lake in the vicinity of Falls City and he said he was anxious to return to it before morning. At midnight Sheriff StVinger's bloodhounds led the posse through the woods to Fortuna park, a short dis tance from Fruitland. The trail was lost there and it was believed that Sphyridis was still hiding in the woods. At 2 A. M. Sunday another posse of ten deputies left the King county courthouse for Leschi park. where they boarded a special boat for the east shore of Mercer island. They went, in response to a call from the posses on the island for more men to guard the beach. Many rowboats were lying along the shore and these were watched in the belief that Sphyridis would come out of the woods in an attempt to launch one of them and make his way to the main land. Purxnera Are Eluded. Early Sunday morning another posse went out of Seattle upon re ceipt of the report that Sphyridis had eluded his pursuers and escaped to tne mainland. These men went to Falls City and combed the roads and woods in that vicinity, workin toward the point where the other posses were working along the shore of Lake Washington. Tnat Sphyridis may have misled DeWry by starting in the direction of Beaux Arts village and, when out of sight, turned his boat and doubled back toward the west short of Lake Washington is a possibility that is being checked up. Up to an early hour Sunday 'evening the boat had not beeot recovered A description of Sphyridis has been telegraphed to all police departments of every coast city and copies of photographs are being made to send throughout the entire west in the event he is not apprehended within the next 24 hours. Knights of Columbus Have Pien.'c. More than S00 persons, including members, families and gueHts, spent Income Tax Exempt Municipal ri d Short and Long Term A for Lilt. Call or Phon. Freeman Smith & SECOND FLOO CAMP doRTHWu i un Bank Bum. Main 64 ZOa Bonds lines of endeavor as agri culture, lumbering, fishing, horticulture, livestock rais ins: and dairyinp-. ve Pur chased these bonds for their general ex cellence, and recommend them without worth - while investments. Den. $250, $500, $1000 Co. Sunday at Bonneville park, attending the annual picnic given by the Knights of Columbus. From early- morning until mid-afternoon . tne crowds arrived at the park. Sports, including races and a. tug-o'-war, as well as dancing both in the afternoon and evening, were the features of the day. LIQUOR MARKED "POISON" Federal Officer Finds Samples "Ivaporate" Too Easily. SEATTLE. Wash., July 25. (Spe cial.) Disappearance of Jamaica gin ger and gin from the federal prohibi tion offices samples held by the pro hibition force for e.-.amlnation has led to announcement by agents today that whoever drinks the samples in the future will be liable to detection. Ail liquor is being treated with bi chloride of mercury and marked "poi son." Sylvester Moore, inspector who col lects the samples, has been wont to leave them about his desk or on taLles nearby. The agent, much to his 0,'nnoyance, he said today, found on several occasions that a sample especially rich in alcoholic content left on a table at night had "evap orated," although tightly corked, when he returned the next morning. DEBATER GETS POSITION Kenneth Collins to Be Instructor in University of Idaho. SEATTLE. "Wash.. July 23. (Spe cial.) Kenneth Collins, two-year varsity debater at the University of Washington and teaching fellow in the department of English last year, has been appointed as an instructor in the department of English at the University of Idaho and will take up is duties there this fall. He grad ates from Washington at the end f the present Bummer session. Mr. Collins represented the purple nd gold on the forensic stage in he spring of 1917 and again last year. He was honored recently by mem bership in Phi Beta Kappa, national scholastic honorary fraternity. He Is lso a member of Phi Gamma Delta nd Oval club, upper-classmen's eo- lety. L. WHITE, 52, IS DEAD Resident of Portland for Many Years Passes at Home. I. L. White, aged 52 years, died at he family home. 895 Lovejoy street. t 6:30 o'clock last evening. He had een in poor health for tho last sev- ral years, although his death at this lme came unexpectedly. Mr. White was born and raised In Portland and had lived in this city radically his entire life, being en gaged in the insurance and invest ment business. He is survived oy nis widow, Mrs. Cclene White. MIKADO IS UNIMPROVED Emperor of Nipponese Occasional ly Unconscious, Reported. HONOLULU. T. H.. July 23. (By the Associated Press-.) The condition of the Mikado continues unimproved, according to a court bulletin, says a cable dispatch to the Nippu Jiji, Jap anese vernacular paper here. The Mikado is suffering from a mild attack of sciatica and glucosu ria and is occasionally unconscious, the dispatch adds. ..Spain. Wins at Olympic Polo. OSTEXD, July 25. In the Olympic polo game today the Spanish team defeated the Americana by a score of 13 to 3.v The American army team tried hard THE PROPER TIME TO INVEST is' that time when securities are low in price and yields are high. The . present market affords the investor an excellent opportunity to secure an exceptional return and yet be secured by an ample margin of safety. Henningsen Produce Company 7 Serial Gold Notes offer an attractive investment opportunity. The business has been established over thirty years. Price to Yield 8.00 G.E.MILLE,R &. COMPANY GOVERNMENT Q YHTTC MUNICIPAL r- I 1 CORPORATION l-J JL 1 UsJ TELEPHONE MAIN -4-lC)S 204- 56 Northwestern Bank Building PORTLAND.OREGON 1 Investment Opportunities and Oar Twenty Payment Plan Then publications toll of good invest ment stocks, which can be purchased on small payments, extending over a period of twenty months. This plan was originated by ms in 1906. Yob can secure both free. Write for 17-. PO Investment Securities 40 Exchange Place, New York W. BERG and FEHR BERLIN. AVEISSENSEE . Berliner Allee 57 Germany Exporters and Importers Agents of first - class German houses, wish to take over agencies for first - class American firms. Commissions Consignments INVESTMENTS r Our latest bulletin, No. 181, is just off the press, quoting lowest prices and highest yields on Government and Municipal Bonds If you have not received one of these lists by mail, write, phone or call. ESTABLISHED OVER A QUARTER CENTURY 4 J MORRIS BROTHERS, Inc. Cmpitml Ona Million Dollar THE PREMIER MUNICIPAL BOND HOUSE Morria" Building 309-11 Stark Street, Bet. Fifth and Sixth TiUphonai Broadway Z151 Eatabliahad Onr 25 Yaai-a PORTLAND. OREGON CENTRAL BUILDING, Crond Floor. TtUphsnti Elliot 2840 and Main 7227 SEATTLE, WASHINGTON MERCHANTS' NATIONAL BANK BUILDING Talaphonat Douglas 434 SAN FRANCISCO Vi to win but was outridden and out played by the Spaniards, who were much better mounted. It was a caee of the ordinary army horses against thoroughly trained polo ponies. The defeat of the Americans elim inates them from a chance of win l ' What's the Difference Between Investment and Speculation? The "ELEMENTARY PRINCIPLES OF INVESTMENT" Says: "INVESTMENT is made with the idea of obtaining a reason able return of interest on the amount invested and with the safety of principal as a first consideration." "SPECULATION has for its fundamental purpose an increase in the amount or value of the capital or money invested. It depends for success upon foretelling the future correctly. Fail ure surely means a partial, if not total, loss of capital." ASK FOR YOUR COPY Blyth, Witter. & Co. Teon Bide. Trade With the Orient frith correspondents of the highest standing in China, Japan, India, and other countries of the Orient, and branches in all the principal ports on the Pacific Coast of North America, this branch is excellently equipped to serve the interests of the grow ing trade with the Orient. The Canadian Bank of Commerce Fourth and Stark Streets, Portland, CraSS Four hundred and eighty-five Branches in Canada, also Branches in London, England; Mexico City, Mexico; Havana, Cuba; Kings ton, Jamaica other Branches will be opened shortly in Central and South America and British West Indies. The Real Estate Market pOSSIBLY many of the property owners of Portland would like to sell their property and would be willing to take less than they could have received in 1912. Our fourth bulletin has a message for these peo ple. If you are one, be sure to receive your copy. Strong 6 MacHaughton1 PCWTi.MDiy(OGBETT BUILDING U000" I 111 8 ning first place In the tourney. How ever, they still have a chance to win second place. See-saw was played by tin children of ancient Kgypt 4000 years ajo. OF THIS BOOK FREE Portland. Or. ATTENTION Livestock Shippers We invite all shippers of live stock to stop at the Union Stockyards, Caldwell, Idaho, for feed and water. Our yards are fully equipped to give the shipper the very best service, including electric lights, paved alleys, covered pens, double and single decks, loading chutes and separating chutes for sheep, carload scales, etc. Blue grass pa s t u r e, sheep tight. Wire us at our expense when your shipments will arrive. UNION STOCKYARDS CO. J. W. Smeed, President. Caldwell. Idaho Phone your want ads to The Oresr nian. Main 7070, Automatic 560-96