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About La Grande evening observer. (La Grande, Or.) 1904-1959 | View Entire Issue (Feb. 8, 1909)
- - -Ljv. evening observer, u caxon, onrr.ox, monh.w. rt:nu.KV . KTGHT IAC.ES. won nonT. t . t N. K WEST, Pres. T. . SCROGGIN, Cash. Wm. MILLER, Vice Pres. n. c. COOLIuQt, hssi. Lasn. t UNITED STATES NATIONAL BANK Capital Stock $100,000. We are now ready for business and will be pleased to meet patrons and prospective patrons. Our capital is ample to meet all legitimate requirements and our equipment is complete and sufficient to provide absolute security. We are in position to properly nancue an -jery xiv banking bus&fisw :ICuXcWitS :'u3;wiJ be; appr sfciated and ;y.wft' account placed and prompt attention. An examination of the . list of our officers and directors will demonstrate the reliability of this institu tion. You are always welcome at the mm. SHOOT HELD CSKO. MAPES OF KLKI.V WINS GOLD MEDAL United States National Bank N. K. West . P. Staples C. T. Bacon DIRECTORS. Wm. Miller H.E. Coolidge T. J. Scroggin J. L. Cavines Frank Conley A. T. HOI Grande Rondc Lumber Co. PERRY, OREGON i CAN FURNISH LUMBER Of M L KINDS IN CARLOAD LOTS. For 16 inch Chain Wood Delivered at yor Home, Call up V. C. DEAN, La Grande. Phone, Red 1741 ' Daily Observer, 65c per Month . eaf;., , ! t t GEORGE PALMER, President W. H. BRENHOLTS Ass't Cashier 4 F. J. HOLMES, Vice President C. S. WILLIAMS, 2d Ass't Cashier F.L. MEYERS Cashier . 3 La Grande National Bank Of La Grande, Oregon CAPITAL AND SURPLUS $170,000 UNITED STATES DEPOSITORY '""lit-m.' Organization ' I'orfwufl by Minotcrs of Eastern Oregon J. W. fcponoer Won Silver Trophy, 1111 1111 it Up Again So it Might Be Itetalimd in Tills County -Next Meet Kubjtvt to Call. The meeting of the gun men which was held In this city yesterday, was so successful that a permanent organiza tion was perfected with George Mapes of Elgin, president: J. W, Spence of Tendleton, vice-president, F. I Lilly of La Grande, secretary-treasurer. It was the intention to enlist the support of the crack shots of western Idaho, but as none responded' to the call yesterday. It was decided to make It purely an eastern Oregon affair, and the association was named the "East ern Oregon Blue Rock association."' In the shoot for the gold medal George Mapes of Elgin secured the prize, and In the sliver cup shoot, 3. W. Spence of Pendleton, won the most "Mrifs, hvt owlrg to the fact that he did not desire to take the cup out of the county, he put It up the second time and George Mapes was once more fortunate. There were a number of exciting events. It was not discovered until almost noon that the score book had been taken by mistake by some one, and It Is Impossible to give the correct list of events and the scores made. The list of shooters present Is sufficient guarantee to those acquainted to know that every one who made a record had Several close seconds. No definite date for the next meet was decided upon, but the executive committee will make announcement In due time to give every nlmrod an op portunity to be present. Those who partlicpated yesterday were George Mapes, Sib Hallgarth, Ar thur Hallgarth. E. B. Tuttle, Lee Tut- tle, Elgin; J. W. Spence, Pendleton; A. It. Hunter, Island City; F. L. Lilly. A, V. Andrews, t L. Markey, S. N. Bolton, Dr. O. L. Riggers, Chaae Boh- nenkainp. Frank Ktilwell, J. E. Van dermuelen. Lee Matlock, M. A. Stil well, Ln Grande, and Dr. Phy of Hot Lake. FEW CONTEST MATERIALIZE DIRECTORS J. M. Berry J. D. Matheson F. J. C. C. Pennington F. L. Meyers Holmes F. M. Brylcit Geo. L. Cleaver W, L Btenholts George Palmer i Keep the money at home by using LA GRANDE SUGAR Costs no nciecrd just as sweet. All dealers. i &t4t- (Continued from page 1.) missed. 'Those to come to hearing re quired anywhere from four to 10 days' time, accumulating heavy expense to the contestant. The squatter who today braved the expense and time was Barton of Wal lowa, who claims preference by squat ter rig lux on section mwnsnip t north ranae 41. K. W. M. All the contests. Involve land in this township. The man made contested by the con test Is Percy Harrison of Vancouver. Mum Pay In Adwinco. Each day of the contest, the con testant must post sufficient funds to pay for taking the testimony before .the case can proceed. This puts the ease on a cash basis, and where hear ings continue for a week or more. It often drains .the contetant's coffers heavily. The Independent Telephone Collapse The Logical Result of Over Capitalization, Insufficient Maintenance and loss of Financial Credit Thursday Evening, August 6th 1908 Boston. The strenuous efforts aster has only been hastened by The difference Is the margin bo made of late to float the securities the financial crisis which cut the tween adequate and Inadequate . . , , nerve of their credit and destroyed maintenance. With suspended or of several independent telephone ne abnUy to ralse new capllalia contracted construction account. companies, either those of more re- rKilXt nocesrltatlng th.. closing of property, like a telephone plant. cent, eonwtmction",' T.er T'JoJe". .vShicti"" Yonifc:hn ' "aw'wunt" "Vui" an " 'soon'becoViiei' tfiupYuj'trrt "A.iia Mat ure In process of reorganization, "open construction account" the quoted. are attracting attention and call for net profits of the Independents The main factors which have comment on the part of those In- were limited only by gross revenue, combined to produce the collapse terested in financial matters. , This record as shown by current of Independent telephony are over At no time In the last eight press reports, includes in one phase capitalization, ruinously low rates, years has it been so clear as In the or another the most prominent Inadequate maintenance or recon last 12 or 15 months, particularly companies In the United States, structlon and lack of general Inter file last eight, that the Independent while 60 per' cent at least of the communication or long distance telephone movement throughout the Independent companies have either telephone facilities, country was suffering from general raised rates or failed in the attempt LOS ANGELEH STOCK EX collapse. . to do so. CHANGE. Undoubtedly precipitated by the Had all the independents with Official1 Quotations, August 28, '0. panic, the Independent breakdown , their temptl.if rates and popular Southern California Independent, has been Inevitable from the first, favor bosun life with fair capltallz- or So-Called "Home Telephone It is, in short, nothing but the 'atlon, the success of the problem . Company Securities. Vnt Value logical working out of the radical would have been' difficult enough, $100. and Incurable defects under which but success was impossible from the BONUS the majority of Independents were start under their methods of pro- Los Angeles Home Tel & organized. Seeking to serve two motion and construction. Tel. Co 78 V4 masters the Independents secured With very few exceptions the Los Angeles Home Tel. It their franchise sfrom the municl- prospectuses which have ben or Tel. Co. (1st prfd) 68V4 pality through promises of low are now being circulated disclose San Diego Home Tjel. & Tel. rates; Induced capital to subscribe the fact. If they disclose any fact. Co. S - through promise of huge profits, that plant was, as a rule, built by Pasadena Home Tel. & Tel. By the first move they hoped to a construction company, paid for Co ...70 gain popular support; by the sec- with bonds at 85 or 90, with a United States Long DIs- ond the money of the small local bonus of say 60 per cent and up- tante Tel. & Tel. Co . .80 . Investor. "wards of preferred stock or com- STOCK In the early days of the Inde- mon stock, or both. The where- Los Angeles Home Tel. tc pendent telephony the name of the abouts of the balance of the stock Tel. Co. (Co. pfd.) 45 Bell Co. was used for conjuring Is not stated, but presumably It, Is Los Angeles Home Tel. & purposes. Absurd statements were In the hands of the promoters or Tel. Co., (Common) '. 08 set forth of f e fabulous profits franchise vendors. Pasadena Home Tel. & Tel. which had accrued to the original Overcapitalization of the Inde- Co .....40 Bell shareholders. But the alluring pendents Is more emphatically San Diego Home Tel. & Tel. promises as to what could and shown from actual figures. The Co 35 would be done, the broad allega- average capital of all the Bell com- Santa Monica Home Tel. & tlons'of overcharges and unreason- panles per station Is $114, or. In- Tel. Co .25 able profits of the old Bell com- eluding the general toll system. $14S United States Long Distance panles, so freely circulated in the per station, as shown in the annual Tel. & Tel. Co 41 prospectuses of the Independents, report. Ten of the largest Inde- The foregoing quotations Indl- have been discarded, and the truth pendents show an average capital- eate. In a measure, PRESENT Is now coming out. when, in the ef- Issatlon of about $270 per station. BOND and STOCK VALUES in an fort to escape Inevitable disaster, while If floating debt and other Independent or so-called "HOME" the Independents admit that, under obligations were Included. It would TELEPHONE DISTRICT to .vhlch the rates promised at organization. be much larger. TET TlfOVK PROMOTERS have actual operation demonstrates that Burdened by overcapitalization. heretofore bci.i i.i the habit of It Is Impossible to pay expenses and It has been inevitable that the Inde- pointing to "with pride." care for plant, let alone showing pendents should show an utter dls- The real facts are that not one In any profit. regard for maintenance and recon- ' ten of the HOME TELEPHONE The record of "foreclosures." structlon. The operating ratio of COMPANIES OF SOUTHERN "passed dividends'" and "receiver- the average Independent company CALIFORNIA has ever paid a dlv- shlps" of the Independent eompan- is about 50 per cent of gross, ldend. and now that AGE, which les, nov.- . i large and afst Increas- many much lessInclusive of means depreciation and reconstruc- ing, en-yhaslxes the fact that be- maintenance and reconstruction. tlon has Set In, It Is. In the worlds twer:: 1 .-.remise" and "perform- The average of all the Rrll com- of our late lamented PRESIDENT anre". lay many obstacles not dls- panles Is about 75 per Cent, of GROVER CLEVELAND, a "CON- closed In a promoters' prospectus. which about one-halt Is malnle- DITION and not a THEORY" thnt The record of independents' dis- nunce and reconstruction. confronts theni. (Continued from page 1.) I '.lewilor Completed. The commodious elevator has been iiiii-t' t-il. though the roofing on the ! covering has not been finished. This. i .... too, will De compieteu mis , Miw-liiiK-ry Kolllni;. Two cars of the modern machinery thai is going in the mill, are roiling, and more are to start Immediately. Tii.. Iiull.l.-is fitire that by the time I interior finishing Is done, a portion of tho machinery will be lore ready for -t-mn- v.u. . Wli.'i nlHh.....l Hh- mill will be the largest and best equipped of Its kind In eastern Oregon. time. Dr. Blackburn Is detained t ills home in Baker, and will not be able to roach our city In consequence f critical Illness of Mrs. Blackburn. The church has voteu, iiowevci, iu hold the series of meetings under t'.n leadership of Vast or W. H. Gibson. A cordial welcome is extended to all. Service hour. 7:30. V. H. GIBSON. TRAFFIC BLOCKED Los Angeles. Feb. S. All traffic to and from Los Angeles is practically cut off today as the result of terrific storms yesterday ami last ntgni. i uc San Joaquin valley line of the South ern rncltic is niocneu mi tue 1.11 the foot of Tehachapl mountains bv a washout at . amerou. i ue cmr-i . c line is out of commission suit of a big washout LADIES HOSIERY An a y0 f-in-o-MK! "DoprhtHft" raliW kilW w.p ....... brand for children. Splendid wearing. LH.WELLnAN&;CO. ADAMS AVENUE WAm and I The coast as the re- hetween Santa Parbara and San Luis Obispo. The Santa Fe train is blocked by the de struction o' a bridge over Arroyo Scco. Dimmer of More Flood. Sacramento. Cal.. Weather Observer Taylor said today there is a possibility of renewed danger to the lower Saeru-m.-nto river NinmK rain prevailing through the Sacramento valley," ami heavy snows in the mountains. The Southern Pacific trains from Portland are running to San Francisco via there Stockton, because of a trestle at un begun last evening special meet- ken being carried away by the high in the Sptvlal Meeting. First Baptist church Ings, which will continue for some waters. Second Hand Goods at Once. Highest Gash price paid A Few Snaps $15.00 Dining Room Table, goods as rev, $8.00 $40.00 Bed Room Sets $18.00 each Gall ard see the hundred an" one bargains ED. PR0PECK FIR STREET ; Phone Black 1251 Observer Want Ads Pay i 8