La Grande evening observer., October 31, 1924, CITY EDITION, Image 7

Friday, October 31, 1924.
THE LA GRANDE EVENING OBSERVER
PAGE SEVEN
GERMAN LOAN
SIGNIFICANT
Tim fuvorablo reception 'by
American unci Kuropoun invcslorM
of tho German external loan wius
tho most significant development
of the lat month. The KuccesH of
tlila Uisuo provided convincing evl
denco of fuitli. hotli here anil
abroad, In tho ultimate, working
out of tiic Dawes plan, stales the
current .Issue of tho "Ciiuirant y
Survey,", which lias Just been is
sued by tho (rtianaJity Trust com
pany of. New York. (
'l.arg credit resources aru
available in this country for the
assistance. of Kuropu, as conditions
may warrant und as confidence Is
created by the. economic recovery
of Kuropean countries," the "Sur
vey" continues. "Tho extent to
if which tho I'nlted States may help
H fully participate in tho economic
restoration of Kurope, however,
tvIII necessarily depend In large
part upon the stability of political
conditions thero, us a necessary
factor in tile assurance of eco
nomic stability.
J'robable IK-sulls or Dnwes I'lan
"Tho German loan was' project
ed' as an essential step in the in
auituratlon of tho Dawes pkui.
which now becomes operative. A
hoperui altitude towards the re
sults which are to follow is war
ranted, even though not tho ex
pected benefits may fully realized.
In any event the application of the
new agreements to the trouble
some reparation anil related pro
blems should have helped effects
upon the state of mind of the peo
ples most directly concerned. In
addition to the material results
which may be shown In reviving
industry and trade. The inability
jitf the new arrangements to pro
duce an immediate world-wide.
boom will not bo an evidence of
1 1.,. I,, failure. Tho plan's success
7 will lie measured by its long-term
results.
"In view of fresli expressions
here and thero of fear of disas
trous competloion with American
producers for foreign markets,
the fact will bear repetition that
economic recuperation brctad can
not fall in its larger results to
stimulate business in this country.
Some interests may bo adversely
affected, of course, but more will
be benefited. There is promise in
these new developments of Im
proved markets for American raw
materials and foodstuffs and for
main- classes of manufactures, as
well'ns additional .opportunities
for the enlargement of Ajnerlcan
capital Investments abroad in
profitable undertakings.
Industry und Trade;.
Industrial production us a
whole in tliis country continues
its moderate and irregular expan
sion. With allowance for merclj
seasonal factors, definite! progress
away from theJ recent Blackness is
evident.
"The " presidential' Campaign,
with Its Impending issues, howev
er is the over-shadowing iullue
eiice on the business situation gen
erally. Uncertainty as lo lis
outcome restrains Initiative and
halts enterprise. Many import
ant economic problems in the
fields of taxation, transportation,
tariff and finance, are involved lu
the issues, und business will In
evitably be affected by the atti
tude of the electorate expressed
toward them at the polls. 1 he
marked improvement of the lal"
summer has. as a result ot this
and other causes, been chocked
and another period of hcslK.ncy
and variability has followed.
"There have been, however, a
number of favorable developments
which seem to promise improved
. conditions when the, national elec
tion has been disposed of and its
probable effects appraised, lint
In many branches or Industry the
Jong-sUindlng .obstacle of dispro
portionate costs or production still
constitutes the chief hindrance lo
progress. A correction of this Hit -1
nation, more than anything else,
would promote un enduring ex
pansion of trade, both .domestic
and foreign.
Industrial employment is slow
ly increasing, and wagon are gen
erally well maintained. Kmploy
luent in manufacturing Industries,
increased In September, while per
capita earnings and payroll tutals
gained. All these Increases tend
to confirm the upturn which wus
observed In August.
"Commodity prices In general
have udvancod rather sharply in
recent weeks.. This movement Is
the second series or marked ad
vances from the year's low point
in the second week of July.
"The extreme ease in money
rates continues. Slight temporary
rises have occurred from time to
time, but these have been only
fractional, and have dlsiippesind
almost at once. With the contin
ued, ulthough reduced, inrlow of
gold, unrt tho seasonal peak of
jt credit demand reached or passed.
"Xtlicre is no immedWo prospect
for materially higher rules, altho
It is qulto possible that some firm
ness may develop In response to
numerous applications for Kuro
pean loans.
"A l.rlk movement rr goods In
distributive eliunmls Is indicated
especially by statistics of railroad
freight.
"Kurt her Increases are reported
bl the activity of cnll.in mills,
both in New Kngland and In the
South. While It must be admit
ted that the cotton textile Indus
try us a whole iln still rar from
uelive, the Increases are surriei
ently numerous to Indicate a mea
sure or relief from the oppressive
cost situation which has prevail
ed during the llost year.
Jrim and St.-rl.
"Irregular Improvement In lh
Iron and stool Industry is report-d
rrom week to week. Til" decline
In production which bKn
April was halted in th- lallcr
Vl'irt of July and by tho end f
W'hat month a small but dis'lTl
1 Incrrnso was apparent. If Wits no!
until August, however that Umg
Iblc eudtuce tii tjauaiou appear-
Searching Chinese for Weapons
NiCr Kfe ill
tng activity sh&w a hlirlirr ttcaln
of operations this ywir thtui oh
talned In . tho corresponding
months lust year. The prtwnt
prospect Is for a hlffh rate of ac
tivity during- the fall and Vititfr.
"The gTcattutt prwaur for inn.
torials In still provided hy residen
tial construction. And without an
Inrrwwe, In .tho requiromunla of
buHtne-sa and tndustrfebl " const ruc
tion thero Is no promLso of a
marked Rrowth In tho demands of
the hullUlng Industry for iron and
Ktecl.
"Automoldlo production, despite
the cxpatiHion Hinco Juno, Is still
considerably smaller than a year
uru. And it is doubtful whether
the Utah rate or production roach
nd early this yt;ar will soon be at
tains! again.
"Thn output of t itu petroleum
industry reiiuilns ext iurit!nurHy
Uutfe, despKo a HllRht curlaUment
in recent week:, Drclininu; price
of crude oil have len accompan
ied recently hy reduced activity in
drilling, but both drilling equip
ment anil tmnsporiaiton anil mor
ale facilities wil probably bo a
source of active demand for Iron
and stel products - in . coming1
months. ,
"Altofrether, these major usors
of Iron and Htecl Ktve promleo of
a fair volutnu of demand in the
Immedlnto future.1 lu arloutl
ways, moreover, the marked im
provement in the economic posi
tion of thi farmers may Indirect
ly hi i mil late l ho Re uerat demand
for these products. Karmcrs have
exwmomtzed in their ubo of ma
chinery and tooln for a long per
iod. Alroody the beUerfcent of
tholr position is reflected la the
donrnnd for machinery and other
equipment It Is reasonable to
expect that, wit h considerable
Kapa to be filled In bringing" this'
equipment up to present require
ments; an unusually large de
mand by agriculture for Iron and
Ateel products will develop In
1036.
"It Is not to bo expected, of
.course, that the Industry qan op
erate continuously at or near Us
practicable maximum rate. And
Its prosperity docs not fcwalt such
a scale of activity. It baa been
demonstrated that fair earnings
can be realized under " ordinary
conditions, as In the caso of rail
roads and other branota.es of man
ufacturing, with ample capacity U
reserve for occasional utilization
In periods of unusually largo de
mand." . .
If he advertises It, he knows
It'a good!
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An Unusual Value In A Genuine S
Velour Living Room Suite Special
Tnc tong war starting in wew xorK nas broken out in Chinese quarters,
In a dozen different cities. Police ore patrolling the "Chinatowns" In all
of them. Here a Chicago policeman la seen searching a Chinese forj
jveapons. ' Similar scenes are being enacted In practically every large
fjty where there la any considerable number of orientals living.
ed In the monthly totals.
"With the outlook for an im
portant early expansion of Amor
lean exports of iron and steel not
altogether promining, the Jnduslry
in this country must, rely chiefly
upon tho domestic market for It's
prosperity. Tho principal dej"vd
here for steel and iron is furnish
ed by the railroads, building and
construction work, tho auioniobtie
1ml usi ry, and petroleum and re
lated development h. Together
these industries absorbed in 1922
67 per cent., and last year C4 per
cent., of 'the dofnestic output of
rolled steel. It is evident, there
fore, thui.t tho fortunes of Amcric
11 n producers In1 the measurable
future will be governed principal
ly by I ho demand from ' tlyse
sources. '( (
"It, is well known ilia! Hie rail
roads as jl whole, despite, the pro
gress which has been nuule in the
last two years, iu.ro behind their
programs for 1 he Improvement
and expansion of their facilities.
Purchases of rails have been a
conspicuous feature of, tho steel
market in recent weeks. It Is sig
nificant that in the first - nine
months of tho year orders placed
for freight cars exceeded the pur
chases in the' wholo of 1123. It
now appears that orders in 1 924
wi 1 1 su rpass t h oso of any other
year since tho war except 11122.
Construction Requirements.
"The immedialo oullook for the
building and construction indus
tries is less fdcarly defined, so far
as their consumption of steer md
iron product.s is concerned. Build
ing activity is peculiarly subject,
lo wide fluctuations. 11 is signi
ficant however, -that the building
industry has so far successfully
avoided tho difficulties which
arose .last year as a result of
shortages jn lnbor and supplies,
and that cost levels have movod
definitely lower in recent 'months.
Ay already noled, indices of build-,
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Two Pieces Similar
to Illustration
Davenport $85
Now is the time to exchange your old living lopm furniture, mid replace it with one of these beautiful suites which will introduce so
much new comfort and attractiveness into your home. All hardwood frame, roll arms, deep-coil construction throughout; loose spring
(IWU I I - 1 fcS
cushion seats, covered back as well as front with a wonderful veloujJ"
low price quoted. , .
design. Secure one of these luxurious suites at the amazingly
ExtraTalue In Mohair Living Room Suites
The sun
rises in the West
upon a cup of coffee
Streaming wisps of rare coffee fragrance
call the West to breakfast. A vigorous
start for a work-filled day. Knowledge
of and insistence upon quality coffee built
the coffee tradition of the West recog
nized and respected everywhere.
How carefully this tradition is guarded
you will know the instant you pierce the
vacuum seal of a tin of Hills Bros. Red
Can Coffee. What a bouquet 1 Brew a
cup and lift it to your lips. Isn't it simply
perfect? No wonder the West is known
as the home of wonderful coffee 1
With all its high quality, Hills Bro3.
Coffee is not high-priced. It is econom- .
ical to buy and economical to use.
Hills Bros., San Francisco.
HILLS BROS COFFEE
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Your Choice of Three Suites
3-Piece Mohair Suite. Davenport Similar to Illustration. Chairs to Match.
This exceptional value in living room suites is particularly timely because
you get them just in advance of the Thanksgiving and Xmas entertain
ing season. . , Construction is the best that can be obtained high grade
tempered springs, all hardwood frame with dowelled joints and braced cor-
. ncrs. Three colors blue, rose and taupe. Regular
$485.00, Reduced to
$350
&.4Ko-.!8il m 57 fflBi 'it i
Tables Slightly Damaged
An exceptionally attractive offer 1 Just a few. They'll
sell fast! Dining Itoom Table, popular Queen Anne
design, walnut finish; 45x54-in, 6-ft. extension. Regu
lar $60.00 value (
$30.00
Kound Dining Room Table, walnut finish; 54-in top,
6 ft. extension. Regular $60.00 value
$25.00
. I -r- i'
; Ihr Oritmtt
A Distinctive Dining Group in Two
Tone Oak
BUFFKT, . TAJiLE, SIX CHAIRS. Regular $273.00 $X95
Here is furniture of sterling character that will make yours a better home
this winter and for years to conic. The table is 45-in. by 60-in., 8-ft. exten
sion, Buffet, 60 in. with 2 linen compartments and velvet-lined silverware
tray. Included also is six chairs in a beautiful tapestry finish.
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Your Credit Is (,'mid W'e
Cliargc No Interest
GARR'S
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ODD CHAIRS AT
HALF PRICE
Tomorrow brings an opportunity to secure chairs at
a price that will sell them out in a hurry. They are
the 'kind that will do justice to your home no matter
how well furnished. Beautiful mohair covering, deep
toil springs with comfortable roll arms. Mahogany
finish.
$150.00 Overstuffed Chair .......$75.00
$140.00 " " ; .. $70.00
$130.00 " " ...$65.00
$110.00 .... .:..........$55.00
A WORD ON RADIO
Radio, the most wonderful discovery of the ae, is destined lo become one of the most important factors in our home and national life
It has passed from the experimental stage and is now in practical use gi every part of the world. Its educational uses are just beginning
to be realized it has no equal, not even in the Motion Pictures. As a means of entertainment nothing can be more desirable, right in
your own home, by your own fireside you can have that particular form of relaxation suited to your needs: political speeches, opera,
dance music, lectures, sermons, market reports, etc. Radio is not a luxury, it has become a necessity no American home is complete
without one. We anticipate your needs in this direction and have taken into our stock a complete line of the Magnavox Radio. This ma
chine is nationally famous, many thousands being in use throughout the country. We have our own radio expert who will gladly
solve your radio troubles fur you. We will be pleased to give you a demonstration free of charge and without any obligation on your part.
Conic to our store and let us show you what we have in the way of Radio.
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A Small Payment Down; Your Own f$
Terms in Reason on the Balance H
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