La Grande evening observer., March 16, 1922, Image 3

Thtindav March If!, 1922
DPTlIlSTIC :
OUTLODKSEEN
GRANITE EYRTNO OT-STCRVFR
PAGE TTTUET3
n.oro rrtlportanoo afflilK tlm'ilirinlulliniatoly
Him rlso of wlu-iit, In vtiw of tint ; a round.
roiwiht ""(Hfwstr-r
"I.1 "oorti in siiopoiwtim-; nt.m iihirtion-joitpltiil, fur lrH;Mtioj!)'(,j,iU.inrTO' -or
ul amuo Is pviUilU iilly c1! t;uii, ' ' ,M 7' " ' ".u.l,a,ii
fart that ho
wheat crop
larfii a
inn left
part of (ht j
Tliti (Ii'ciinn of prUt 'va dr.istic
fii-Ht huncl. , but it ro.-loi.'l u hiuuit favoratiU
Live hop nave bi'u si!ii,K lliroimli (to fot-ilt-rs, with thu rosiill (hat fat
out thi) nuMitli of l'Vltruitry arotintt
$H ptM- Uumtri 1 1 wuiht In Chicago,
which is an advance nf over $:i
'from tin? low -point, and means no.
I( ' than rtnU pir IhikIicI i'ui
hilliklily; UoUSi the corn consumed. The rhfe vas
Reviews lliisiiK'ss ( Nnulif ul,l00'Hl fl,r (ollimo opi Miik
lions in Favrralilc
Xew York
I ,i 4. )ini me pacKera were uiei unneu
lillli. to i.,,tlp (j,,Wn (iK, pilie, ami that in
cattle marketed
showing hunKomo
men who. hail llje courage to fill
their feed lots last summer. Thesu
men have "recouped the lo;.es ol
tile year hel'ore, aiTd with this
am) I lib prestiii price of I:-;h will
snre a. more- balauc?il relutinji In'-j -lroadv
iweeii corn anil iins ijusi year. 1 n v
Surh expeadUureH wilt not he made 11
(When pric.'a are depressed.
1 1
a mora (Cheerful feidiui; 1
von-
erop
10 he made in cattle, the prices of
stock aniin:ilK have rallied and ;i
fair relation hi tween them and the
thi winter yrt ' 1 !' " ' .V. ' , .Is evident throughout the iu,rlrul-
profits for the j m,n MM1'" l""",; ',,u tuh.l territory, but it must he
101 iimibrn uihj.ii. u- iii.iufu l :HH(.rw,i that much of the l!i'J
yhmiW mailt to complin 11111 e . ;m . ,,.,., , f;irm, 1
curried ;.way hy any i-:ii.i.ulK r)aniIi lhul tUt, H.U1.(.U18 lhl. j
a eoncuited plan. A pc-lky ,;om I n)I11!1mer wi he needed to meet''
lor one fanmr may not bo k.hhI , , in.esHiluM.HiHl,tM,n( .... . I
tor uuoiucr. i-.ucu siioum urn o'FMf.,,,
view of tin) low price nf corn, lions
would be given nil possible weight. I prices of finished beeves III tlm
HriKlilncss is apruirt appennne; in However, the shipping demand at
business, m-coiding to the monthly re-ichiraiio, for outside puckers,- has
view published by the National City, boon strong and receipts at all mar
Company of New York. The outlook , kets have bei'n smaller than last
for the future is better than some year. Iteceipts lit all tlio principal
months ago, the review declares. 1 he j piickiiiK conturs for tho souson from niadi- handsomo prot'lls
leview, in part, follows: November 1 to February 4 wnro ! bringing almost doubio' the- prices
onw farm Into a balaiu'0l sLulo, ill
which he can handle, it Id tlie best
advantage. It Iti proh:ible that tlu
necessary expenses until -this
Heasou's crop Is arown.
be no free tipcudinK.
way of Ih'Iiik restored
The situalion as to idieep Is hot
ter oven than for cattle; ewes are'
ai:aln m:trl;etahle property and thej
fecilers of she p and lani!i;i havoi
spread between corn and lions will
ho snialli-r next year than now.
with corn bluber aitl Iioiih possibly
lower.
It would ho
l.amiis urnii'""" "" " ""' I i,,i.rat , .,,i t.. ..i.i... 11 11
tires. In Kuroje., putsido of i Kits-, y v p .v.: ,, '
I I
1
There will j J
1 I
Wicker Furniture, "a'oy lluirKifs, J
Baskets, Willow Ware, and all kinds 1 1
of wood work enameled and finished i
;, mlstiiko lo tblnk I"'1" all!' eolor with ec.amels that wear
back to war flu-1 1,kt' A l'un'1 '''"riitions on 11
The hnsinesB situation has been . 8.45.00(1 umilnst 9.5!i,i)ilO for tho of a fuw moiiilis auo. Another f.ic-!slu. nuriculliiru will" .be back in
brightened decidedly by the rise of . corn spondiiiK period the year be-! tor l:i the value kf sheen Is the nd-!1!l-'2 "Imost to normal produqilvlly.
lirinKinK' 1 y no lllnro uotsHio 01
iarm products wlilcli lias taken .tore, mid weiiihts are averac.iiiii
place in the last month. This ad-1 about tho same. Stocks of all hou
vnnce Is of greater significance i products are lower than n year uko,
than any other tlovdopnient that , exiiort luovement about same.
nan uccurreti since 1110 prices on Tin) declino In receipts prooamy 1 stroniier In world markiits. particii.
farm products brcke in tho fall of reflects the busty action of farm-1 larly the best erodes. The corpor-
vauco in wool, v.iiich is
about double tlio prices of u year
:iko, and Ii5 to tjO j)er cent more
than four uiontbs ao. Wool
. Kurope than it ia ohllKod to. A
.return to compliely uuruial ;on-
iy ditions is not to be expecfed until
!llio finances of lOurcpe aro in bet
ter shape. In the lonK run the
1020. It is the first burst of readers In disiioslug of brood sows be-lation ore.iniznl in HIL'O to take 1 fl"'""'r permanent Inlluence
sunshine, and ns Buch In marked ! cause thev lost nionev fuedlnc h'igli 1 the Australian stn-ks and ibo boi.l- 011 his side. Tho population is con-
coutriist with the urtiliclal variety prlceti coin to hogs in It'll). Overlings of the llritlsli .government lias 1 slanly increasing nud the urea of Get your Zuna Grey' b ok, "To th
which has been rather laboriously aa over again St lias been proven recently reported that the stock of ' lan 1 '"' lucre i?e now only Last Man, nt Newlln Hook & Stn-
liichurdson "ThA Art ! Man" tell you
about it. TI1K AltT t (JIKT SHOP. JJ
,i-i.i-iii 1
1
T I
Chocolate Creniit r of all flavors!.
fresh talfy .KnghsH Joffy--- inliils
and wafers lu fact all favorite
candles live mado dally at the l'a'.-;
ace Confoctloiiuryv, ;i-ll-tf
Hear Ye Hear Ye
irv at tli: f 'hrist ian Clmrcli
Eight O' clock
thoHrfs of fino
.; '. - .l;'iin' Jitisiii-nl Nuinliors
Iiiiiu;'li and lie roiniiidi'd tif oihop days.
""' -1 Adults l5f, Children Joe,
Hear Ye Hear,Ye Hear Ye
Hear Ye
.. ... v. vr
Vi Old Vine liUV-i"
Tonit aV
The Trial of 1-W Wiiiff
Wav !)tV Klst
dlsscinliiated by cheerful peoiile who tbat such snasuiodie policies ilo
havo thought nothing was required not pay In agriculture or In any
but I hat everybody should tiinlle business. The February Letter cou
nt each other.. A deadlock lias tallied a. letter from a western
existed, us a result of farm pro- runner touching upon the success
ducts hiivlug fallen .much faster mid; that has attended livestock produo
farther than other products, audition upon 11 uniform, consistent pol
prosperlty hns been waiting on a Icy. .
correction of this uneconomic and j The price of .corn h is responded
unjust situation. Another demon- to profitable results froni feeding
stratlon has been afforded of the ; operations . in hogs, cattle and
profound truth that the economic sheep, with a rise of about 15
luw and he moral law are always j cents ipor bushti. Kxports havo con
In harmony, and that it Is wiseltlnued high; and the rise of wheat
management to bring business ul- probably has had somo influence,
fairs Into line with them. iThe low price of all the grains was
As is usually the case Kvhen a dua in considerable degree to loss
great fall of prices 'occurs under, of confidence and lack of specula
conditions which unsettle confl- tive interest. ' It has been popular
dence. farm products fell below the , to decry the speculator, but specu
normal level, In some Instiinces bo-: lation, intelligently di recto. I., ren
low even the pre-war level. Eu-, ders economic service as a'stab
ropean conditions were Ininiedlute- Uizing influence. If it Is called
ly responsible for the full anil they "Investment" to buy corn when tho
have bet'n so clouded ns to involve j price falls below the cost of pro
file whole situation in uncertainty, j auction, tho net is accepted as en
The rise which has now occurred tirely legitimate, ,nit if it Is call
has given prompt vindication to the i ed "speculation" it becomes dis
report recently made by Professor j creditable. The fact is that-when
George 'F. Wurrc'n of the Depart-1 an excessive supply exists of any
ment of Agriculture, that Europe j commodity tho (price will full un
would have to buy heavily or food-1 duly lew unless there nro buyers
stuffs before the crop or 1922. j who will take it to hold for the
Prices of Wheat. market In the future. Tho country
It hns been known since last sum- has had two bumper crops of corn
mer IJiat the world's supply and in succession, following a fair crop
consumption of wheat would bojln Kill); corn (has a very limited
.closely balanced for this crop year, market except as teed for animals,
much depending upon the) crops inland the country is in an unbalanced
the southern hemisphere. The early j state . as between corn tuid livu
reports as to the crops of Argen-! stock. Add to this tho fact that
Una and Australia wero of .large j the world situation has been, so 1111
ylelds and the Canadian crop was settled that calculations for tho1 fu
e'ltlmatoj to be considerably above turo could not bo made with con
that of 1920. Confidence in wheat. fldcnce.- and it Is not difficult to
uniong (both producers and specu-see why forn and ho other grains
lators, had been weakened by thelljave been low',
great decline of the previous year,! Callle, Sheep anil Wool,
with thB result that the farmers The price of fat tattle haVheen
marketed the crop rapidly nnd as I steady, with some showing of
stocks in sight increased there was I strength, but a decided Improve
not courage enough in the markets' mont has taken place In the market
to take the offerings without price ! for stock cattle, which during a
fdeelines. Thy farmers suffered from hireat part of last year was itiemor
lack of speculative buying. More Jalized by forced sales to liquidate
buyers were needed who had faith j indebtedness. During the boom pe
in wheat. It will be remembered j riod, while iprices were rising, mar
that about that time the so-called j cattlemen became over-extmded and
farmers' bloc In congress was hot tin many instances banks became
011 the trail of the speculator, and J over-extended In granting them ac
has been claiming credit for enact- jcoinmodations. A great amount of
Ing a law to curtail his operations. ! cattle paper was put afloat through
Of course It cannot be positively j cattk'-loan companies, and bought
said that 'wheat would have been ; by investors who were under 110 ob
highiT but for this act. but if It j ligations to renew It, and w ho
Interfered with the freedom iof the counted upon having their money
markets, It was bound to be detri-j when the paper fell duo. The turn
mental, and ft. is certnln that wheat of the times came', prices fell, bunk
suffered last fall from a lack of deposits declined, the cattle loans
speculative buying. The low price fell due, banks needed their money
on the crop was made November . to meet the calls of depositors, and
1st, when December wheat sold In cattle had to be sold. It was a
Chicago at $1.01 and the May de- .mistake to create so much indebted
by
nn.rinos will be entirely disposed
of by tho tuid of next .Inly, and it
is expocted that tills quality
then be released from control.
world still lias large stocks of low
grade wools, but ecen these1 are im
proving in price. lu the Tutted j
States, tile stocks ilmported in an-
ticipalion of the emergency tariff 1
have been workul down to small
proportions, and the -advance here
signifies that, prices are being ad
justed to tho outside market plus
tins new import' dutii s.
Oilier Agricultural P Iinis.
Putter uud eggs ure about- the
only farm products that havo not
participated In the rise, their ten
dency being downward witli every
warm spill !of weather. For the
week ended February 11. the Amer
ican Association of Creamery Put
ter Manufacturers reported .a rate
21.6 per cent greati.'r than in tho
sanio creameries in the correspond
ing week of last year. The stor
age supplies are a littlu below those
of last year.
Tho California crop of citrus fruit
has met with a calamity, 11 freeze
cutting oft SO to 7 5 pin- cent of it.
This is a serious blow to Southern
California, ami while it will 10
dound in some degree to the bene
fit of Florida producers, means that
consumers will havo to pay higher
prices.
Tile Kusines Outlook.
It will be sei'.i from tho foregoing
survey of the agricultural stapes ! 17.
that a pronounced improvement has 1 IS.
taken place in the position of the
farming popuNition, which -is pre
cisely w'liere the busine'ss situation
has been weak. It would not be
safe to predict tiiat this Improve
ment will continue or evil that it I
will be in ail respovts maintained, ' 2.1.
but it probably is safe to say that I
tho worst has heen - passed, nu.'i j.
that on the whole tho farmer wllllf'1
not tlose the ground that ha.s been!"
gained.
For one thing, 11 rise such ns hns
occurred does much to restore confi".
deuce In values. It has shown liowly
easily tile situation may right itself!
with tl slight change in conditions,!"
and that there never "was ground
for the I'xlremo pessimism that pre-:,,
vailed. Pessimism, like optimism,
is infectious, an.d when everybody j
Is thinking the same way either
state of mind will run to tliu ex-'ill.
treine. When- times were booming, !
common opinion was ready to in-insist
tiiey would go. on tiiat way for 1 ;'
a long time, anil when tin y turned j
had it was just as positive thai 1 35
they wore going to slay bad for n . iji;.
very long time unless something
was done forthwith. . , I
As Baid above-', wheat. Is more-1
considerable expenditure of tionery Co.
.1-4 -if,
WIH 'Chatter No. !)2
l'lie
1 Reserve District No. 12
KKPORT OF THE CONDITION OF THE
STATE BANK OF IMBLER
At Imbbr, i;i Hie State of Oi't-Kon, at the clou of business March 10, 11)2
1. Loans and diseuunts, iiiwH:dinj rediscounts shown in items 20 '
and HO, if any ;.?l!iI,;i;i.S-J
10.
Ill
Ovc.rdtaftK secured and unsecured
U. S. tlovei anient securities owned, includinif those shown
in item.- ;JU and :'.", if any .....
Other bonds, wai rants and sevurities, including foreign pov
ern merit, ; state, municipal, corporation, etc., including
those shown in i ejus (i0 and IJ5, if any
Stocks, secutitiep, claims, liens. ju:i.rments, etc, . ; ,
Hanking hovisL, $K,'J80 til); furniture and fixtures, if'J.0 17.50, .
Keal esUite owned othe than banking house . ; v . f .: . . .
I (a) Lawful reserve will:; federal reserve bank :
: (be), Cash on hand in vault and due from Other banks, bank
ers and tvj.st cmij anies '
(ab) Cash on hand in vaulL and due from banks, hankers ami
trust companies deMjrnu,tcd and approved reset ve agents
of this bank
(c) Net amounts due from other banks, bankers a:id trust
companies
Exchanges for clearing houset nnd items on other banks in
the samex city or town as reporting' bank . .i.
Checks on bank.a outside city or town or reporting bank and
other casliitems
Toljal e.rNi and duo from hanks, items 8, 9. 10 nnd
1U $ifi,:i07.il
Interest, taxes and Vxpor.ses paid, .
v. uaiuiMUl
Customer
bank and other 1.
Other assets, if any ,
, Total
:ro.7:
:i,:ioo.)!o
noo.oo
JO.H27.5l)
VOrt.OO.
none
none
1.VHI7.11
arr-j
Where
COMPLETE
UWt
V I
Mi: FURNISHER a
, taxes and Vxper.ses paidx . . . .
.'is' liuliilityVnilcr letters iif credit .
-'rs' liubility ccount of nA'cptanccs
sj'ks tor the c
.IARlI.lT
executed liv this
count of this bank ......
none
none
none
none !
IKS
Capital stock paid in
Surplus funi
(u) Undivided pi of it .,.$:U'17.83
tb Less currenl txpemes, inlnrest nnd taxes paid z,z-i.i.iti
19. K.seived for taxes, interest and depreciation
20. Dividends' unpahf ; . .'
21. Nrt amounts duo (i other banks, bankers and trust companies
22. tJhilld BtatiftR Uo)ittf-inbliitiing postal aviiigs and deposits.
of U. S dedtuismtf officers
Demand Deposits other than banks, subject lo reserve t
2.1. Individual depOKtts' subiect to check, including leposilJ due
the State of Oregon, county, cities or other public funds
Demand certificates of deposit outstanding
Cashi:-r'H ehecku of this bank outHtanHng payalile on demand
Certified checks outstanding
Total of demand deposits, other than bank deposits,
subject tp nejicrve, kerns 211, 24, 25, 2(i S0.:!02.2r
Time and SnvingT'pehitH, subject to reserve nnd payable on
demand or sub.h.ct to notice:
Time certificates jjf deposit outstanding i. .i.
Savings deposits, OayjJde subject to notice
Total of timovOnd savings deposits payable. on demand
or subject to notice. itrus 27 and 'lit :i0,'t;tl.08
Notes and hills rcdiscountcd with Federal HJ'eserve Hank ...
Notes and hills redi.it ounted including bonds or other secur
ities sold undor H.purchase agreements with contingent
liabilities i
Dills payable with 'federal reserve bank or with other banks
or trust compHnien
Advances from War Kinanco Corporation
Letters of credit ,oijtstanding
Acceptances executed by this bank for customers based on
actual agricultural or conmtetcial tmfmacl ions
United States government or other bonds borrowed
Liabilities other than nheve, if any
40,000,00
:i,ooo,oo
l.UU.Ori !
non4
' none
none
Attention! Sawmills
"V w ill be iu i lie niavket this season for sev
eral niillion 'f(t or! pine -lumber.
Good, Soft line es Are, Our Specialty
Unio
ox
Co,
P. Jasmann, 'Manager,
La Grande, Oregon
Telephone, Main 583
livery at J1.02 5-8.
The cattle business would, than likely to brlns a Rood price 1
Total
Slate of Oruiron. County of Union, ss.
I. L. L. Slrinirhain. cashier of the ahovi nenicd hank, do solemnly
swear that the above tfcitemen(: is Irne lo the best of my knowledge anil he.
A 1....., n...l Oivcunlnv m-n-ll. it... I n.i.r.i 1 ,.,,u!.Jl'l I v -u-itll-'SO loilir ns lllli.'l rnoifllnu txiit na
ciloded. Ill Argentina and Australia, out borrowing so much. , The bor-8 competitor. If speculators hn.d i ' ' - j( j STRINfillAM Cnshier.
it developed that In neither country 1 rowiK resulted in a competent for : had a normal amount of nerve the CORRECT 'Allrst : C. ,T Pratt nnrl ciuy W. Kox. llirectors.
would the yield come up to the stock cattle that a rove prices up ; price would not have fallen so low Subscribed mid sworn to before me this' l.'tli dav of March 1!'-'J.
early reports, and the final official to a level that was dangerous for on the last crop. Tho chances aro! V. E. IXiNIl, Notary Public,
report on the Canudian crop placed , thoso who did the finishing, and a;:ainst a third bumper crop of' My commission expires March 7th, 10l!"
a i 1 b
r7.(U ,
,4oLOSM03BiLS:
none S
' - m . ; 1 24th- year
none -.. I :
rmu" ! 1 -ft l fk
none ' -- 1 1 t,.jV I 1 ;
none . , t-- ,
E i !Clkli,'.' .A1 .
.$1.1H,'.
it no.OOO.OOD bushels below
estimates current in the full. The
reduction In Cunadu, however, was
more than offset by an Increase In
the official estimate for the United i
States- liy the middle of January j
tho May price had risen to about
SI. 12, and by 'the end of the month
to about $ i.l R. Unfavorable re-1
ports on the condition of the fall-i
sown crop in the southwiJst had
become a factor, and so also the j
Warren report on probable Europ
ean needs, which 'was quickly verl
lied by Increased European pur
chases. Under the influence of
these developments the market be
came very active in February nnd
advanced rapidly, the May delivery
iu ChlouKo, reachlnu J1.47, from
which It reacted a few cents on
rains over the southwest, where
drought has prevailed.
From this time on the market
will bo much influenced hy the
crop prosp-t-cts in this country. Kan
sas is the blt-'uest producer of win
ter wheat. anU In that state ind
the- adjoining southwest the crop
failed to gi-'t moisture enough in
the full to nlve a good start, and
has had very little of either snow
or rain since. Crop experts have
bn'n predicting heavy abandon
ment of acreage!.
This situation supports the view
thai so long as Russia Is not an
a exporter, tho world's supply and de
mand will be closely balanced -when
the wheat crop Is generally good,
and that a short crop. with any Im-
0 pTtant pdurer Is HUtly.to ,!
prices shywnrd.
t orn nnil !!,.
Oe mentioned In our &it tm-
3 her the rise o hogs, which I P of
' tV :'''fe"!liii4;-
For cakes and pic mak- "v f
inK.Mnzolaisequaltobuljer at a s. w7'
remarkably lower cost, follow your
usual recipe using Vi to !i Ii'V of Maiolai i j J
than the amount of buttcrValled for. j j I
PIE CRUST I J J
1 L, cup SIficd Palrv llour K .poon r,B.lnB PowJe f
U ica.poon bah )l tup Mjs.'l.t I S
4 tablcipoena Cold Watir 1
Sifl v tnorcilit-nl.. Aa.l water lo Mrioln nil! heat until
creMitv. Mi;; pii. kly into Jrv inun.lierit.. onto
ai:hllv flourt-d hoard and roll lo di-.ired ihltlf ti.a. "Tx
'1 In. rctlpc make. on. double pie 10c IrtJ
TJ TJ 17 7 ltiW SWKrftlf J
L t JEv fj Cora l'(iMLi i 4.'
. a o
El"
VieA tf'ztmmM )' 4lic SchtxlDorno.tic Science Teachers
Special Sale
One Week Only
1847 Roger's Eros.
Silverwear
In Patterns Wi Are Discontinuinff
1 Set K'niVi and lM)il;s..was 21.00 Now $13.50
Patterns "V
-i and Imi
J... was
....was
f.... was
.. .i was
.... was
t was
J... was
was
1 Sot Tcasioiis
1 Set l)essci'iViiooiii
1 Set Table Sj!Viis
1 Set Salad Vorls
Set Soup SiViis ...
liiillei' Kmle
Siwir Shell
Cream laatlle
1'eiry Spitmi
Oravev rjitdle
I .01) Now
7.. -.0 Now
.()() Now
S.00 Nov;
h.i id Now
l.bo Now
l.iio Now
2.1. ") Now
Now
2.7" Now
2.85
5.45
5.43
5.23
5.65
.90
.90
1.45
2.45,
1.90
Thia 13 Your Opportunity To Purchase Silver
wear At Pre-War Prices.
Kofcr On Display la Our Window
.SIEGRIST & CO
You can pay' rnqirgfor a car hut you cannot get
more car for what you pay than in an Oldsmobile.
W. H. Bolmenkamp Co.
WANT TO BUY OR SELL SOMETHING? TRY AN " .
OBSERVER WANT AD f1
TAXES
LAST YEAR THIS COMPANY PAID
$11,882.32 IN TAXES
IN VIEW Of THE HIGH TAX RATE
PLUS THE NUMEROUS AND EX
PENSIVE REGULATIONS WE ARE
COMPELLED TO 0PERA.T3 UN
DER, IT IS A WONDER OUR RATES
ARE NOT HIGHER THAN THEY
ARE. TELEPHONE SERVICE IS
THE CHEAFEST COMMODITY IN
EXISTENCE, i YOU CANNOT AF
JfORD TO DO WITHOUT IT.
' Home McpeMewt . L':; I
? ji IU, ,1 . 4Tf ' ' "I''. . '
O l n 0 " o o Q " K ' . l
I .-
II -11
1
oo- ' a o o n " o -' ' o ' " -' a. ' ". " -
o0
o
. Wr4 4 imvm WMtf igCk
0 " o &0 o o I
.a-a w - ,J !'.. irJa.iiMKJiwatAe. "'WWf.'K 1.''Wai WifiilJl'rJVill)IU. I'llll)'