- - -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