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About La Grande evening observer. (La Grande, Or.) 1904-1959 | View Entire Issue (June 3, 1932)
'imaav. June 6. iV6i I in III u D rJ p c B c T tho tho her flip pre 1 of out V01 I pnc 8pi of r nm pu tlu lie: I of ck . rei mi su nr hi If dc cc S ot ir 1' is cl l'l 11 VI u u I) li V I li Announcement .Bring J. P. MORGAN AND COMPANY FORMING BIG CORPORATION Initial Purchases to be Made in Bond Market Long List of Securi ties Record Gains. NEW YORK. June 3 W) J. P. Mor gan and Company today announced that a gluantlc Investing corporation, to which 100,000.000 ha already been subscribed, wa In the process of formation. Tho corporation proposes to make Its Initial purchases In the bond mar ket. It policy In acquiring Invest ments must be based In large meas ure upon Its confidence In final ac tion by congress In effectively bal ancing the budget and thus manifest ing its determination to maintain In tact the government' credit, It was explained. One of the most substantial rallies In a number of month today lifted the bond Market from Its recent depth and a long list of securities recorded gains of from 1 to 6 or more points. lipturn Result Buoyancy of practically all loan categories was attributed almost di rectly to report that a concerted move would be made by Important financial Interest to stablllm high grade bonds. While utilities 'and Industrials were firm throughout the session, the rails were spectacular leaders In the upturn. Thomas W. L&mont, partner In J. P. Morgan and company, announced that subscriptions to the corpora tion ot $100,000,000 had already been received rrom a number of New York banking Instttutlona and that fi nancial Institutions In various parts of tho country had also announced their Intention of participating. ,The following New York Instit utions have already subscribed: Chase National bank. National City bank. First National bank. Guaranty Trust company. Bankers Trust company. Central Hanover bank and Trust com pany, Irving Trust compsny. Manu facturers Trust company. Bank of Manhattan Trust company. Chemical Bank and Trust company. Bank of Now York and Trust company. United State Trust company, Brooklyn Trust company. Public National bank and Trust company. Commercial National Bank and Trust company, and Marine Midland Trust company. Also subscribing are J. P. Morgan and company, and Kuhn Loeb and company. Morgan and company will. In accordance with the request of the subscribing Institutions and un der the general direction ot tho cor poration's board, act In the acquisi tion and handling of It Investment. WOOL MAHKKT BOSTON. June 3 if) The Com merclal Bulletin will aay tomorrow: "The situation In the wool market during the past week has changed little. The manufacturers, possibly, are showing a lltUe more Interest in wool, although their purchases con tlnue very limited, while prices, so far aa they can be quoted, are sub atantlally unchanged. "The manufacturing situ lion eUU U alow, on the basts of the lower prices recently named, however, there appears to be a gradual Increase of interest on the part of buyers. "Mohair is slow and uninteresting." The Bulletin will publish the fol lowing quotations: : MARKET NEWS OF THE DAY : CHICAGO Open -wse .18 .Kl.tils July (nidi ne) Sept. (old) (ne) Per. PORTLAND WHEAT Open . men Lav class July m jvt v. Sept. Jt4 .vjh mi, . I JSi -YMj Mi .S4f CHICAGO CORN Open inch low ciom JmIj .jo .:sh Sept. ii A, .J3 Iec .MM, .S, .S2i JJ1,..13 HIT-0F-THE-WEEK RECORDS 20c Each These lire the new type of Urns-playing: records and each record has two complete cun-ent hits for only 20c. The hits for this week are "Sinjr A New Song," and "My Kxtraordinary Gal" and others are "My Mom" and "I'm So Alone With the Crowd" and "Ret ween the Devil and The Deep Rhie Sea" and "Happy -Go-Lucky You and Rroken Heart od Me." New Hit-of-t)u-Veek Records are on sale every Thursday. La Grande Book & Stationery Co. 'Strvice Station for Home and Office 1114 Adams Ave. Main 90 Oregon Pine and t. m. staple 36 36: flue and f. m. Pr. combing 33-36; fine and f. m. clothing 30-39; valley No. 1. 35-37. Mohair: Oregon 17-18. Domestic graded: first combing 37 30; second combing 24-36; third combing 30-23; fourth combing 18-20: good carding 31-24; first kid 60-69; second kid 46-60. KUMAR AND FI.OUR PORTLAND, Juno 3 Ml Sugar Cane, granulated S4.08 100 lb., beet M 80. Domestic flour Selling price de livered: patent 40s 15. 50; do 0885.30 bakers' blueatcm $4.10; soft wheat pastry flour 13.40 m S3.60; Montana hard wheat patent 6.00e 15.30; rye 4 .60 14.60. AMELIA CHEERED BY THOUSANDS IN FRENCH CAPITAL (Continued from Page One) Cherbourg harbor at 5:45 a. m. to discover that the Olympic hud been dclnycd and alio had beaten her hus band to France. With her were Mr. Falrey, Amy Johnson, noted British distance filer, and a number of friends. (retted By Mayor Mrs. Putnam was greeted at Cher bourg by the mayor. She wore a brown ensemble. "I flew the Atlantic because 1 thought It was time some woman should do it," she told the mayor when he greeted her. ' The first thing she plans to do when she returns to the United States, she said, Is to fly her husband to California on a business trip. Mrs. Putnam motored to Hamble from London yesterday in an auto mobile from the American embassy in London. She waa a guest of Mr. Falrey there before she left at a dinner at which several persona prominent In British aviation were present. Including Miss Johnson, Squadron Leader A. H. Orlebar, noted British speed flier and the master of Semphtu. At 7 a. m., American Consul Hora tio T, Moocra and the Vlcomte De Slbour boarded the yacht in the har- i bor here from a tug and extended greet! UBs to Mrs. Putnam. Mr. Putnam arrived tboord the yacht at 8:30 on another tug, from the Olympic. He dashed to his wife's cabin to greet her and remained there ten minutes. Later he aald: "I'm terribly proud of her, but I hope transatlantic fly ing won't become a habit with her." WAR DEPARTMENT REFUSES TO AID (Continued from Page One) of lading reading: "Livestock 55 veterans." Need 27 Signatures The Patman petition calling up the bonus bill from the house ways and means committee haa 118 signa tures of the necessary 145. The vet erans sent large delegations to the house office building to attempt to obtain the remaining names. Hundreds ot pounds of beef and vegetables were sent to the campers by police this morning. They esti mate It will cost at least 80 cents n man to build shelters In Anacostia park shelters with only a roof and no aides. Polled watched closely today for any signs of communistic activity among the veterans. Leaders of the veterans have vehemently asserted that they ha no connection with communism. Plans are being laid, however, by a communistic affiliate, the workers' ex -service men's league, for a mass demonstration in behalf of the bonus on June 8. WHEAT Ut .Mil, .59 .Bl', Low .SJ ,B0 Close .5.1 soy e-H s ROOSEVELT'S ATTITUDE ON CASE CLEAR (Continued from Page One) promptness. -i "Oct the law straight. It. Is the duty of the legislative committee and its counsel, if they believe they have sufficient cause, to' present evidence to the proper authorities without waiting to make formal report to next year's legislature. ... "If the evidence In any cose now beforo the legislative committee in their Judgment or that of their counsel, warrants, it is time for the legislative committee and their coun sel to stop talking and do something. "It la not the time for political snipping or buck passing." W U K Kit KKTTItNH HOME NEW YORK. June 3 W Mayor Walker returned today from the mayor's conference In Detroit with out commenting on the charge of Samuel Sea bury that his owning bonds of a company awarded a city contract was sufficient causo for him to be removed from office. A crowd- of about 200 persons cheered as he and his party passed through the Grand Central station. Stocks Higher At Close After Profit Taking NEW YORK. June 3 Ml Spurred by reports that organized support for the bond market was to be under taken by a group of banks and bank ing houses, security prices rallied strongly In active trading today. Stocks fell back substantially after soaring II to tS a share, but closed mostly higher. Bonds made even larger advances and generally held their gains. Profit taking appeared to be the chief influence in the re action of common shares from their highs. With the tax bill reported back to both house and senate, prompt ac tion toward final balancing of the budget was Indicated, thus removing one of the market's chief worries of the pant six months. Stocks of light and power com panies made a strong showing when it was learned that the revised rev enue measure provided for a con sumers' tax on electricity as against the levy on producers' income pro posed In the senate bill. North American closed 3 net high er at 118.63 and Consolidated Oas showed a gain of $3, the final price being 137. American Telephone lost a 3 advance which had carried It to 89.50. United States Steel common, after rising $2.25 to S20.75, finished at $28 50. up 1. Transactions approximated 2,000, 000 shares. PORTLAND- CASH PORTLAND. Ore.. June 3 ri Cash wheat: Big Bend blue tern 674c. Soft white 57c. Western white 66 4c. Western red 55c. Northern spring- 554 c. Oats: No. 2 white (25.00. Today's car receipts: wheat 30; bar ley 1; flour 11; corn 2. CANADIAN MARKETS CLOSED TORONTO. June 3 All finan cial and grain markets in Canada were closed today in celebration of the birthday of King George. CITY CANVASSED BY UNION GROUP (Continued Prom Page One) plished. not only In advance sales but In advertising the show, and in some cases, more thoroughly ac quainting local men with the results that are attained by the show as reflected In La Grande. Union and other county and Eastern Oregon points. Local men also felt that many of the firms that were unable to pur- haxe tickets yesterday, nevertheless would make arrangements so tht many of thrlr members and employes could attend the show next week. MAX'S BODY KOl'NH GRANTS PASS. June St - The body of Glen Loop, 23. of McMinn vtlle. was found late yesterday tn the river near here in which he droned May 16 m-hen he and four others at tempted to row over the Amend rapids. SATURDAY SPECIALS YOUSG TENDER BEEF Shoulder Steak, 2 lbs. 2 ie Hamburger, 3 llx? 37c lieof Liver, 3 lbs 14c Hoof Roast, lb . 10c Boil Beef, lb Sc PORK 4 Pork Steak, 2 lbs. 24c Fresh Side, lb . 12c Ixg of Pork, 1 o or whole, lb 11c Fancv Shoulder Cuts, lb. 11c Spare Ribs, 3 lbs 29c Fancv Suerar Cum! Bacon, sliced and rind, 2 llis 39c Half or whole, lb. 16c Shortening, -1 lbs. - 24c lard, 2 lbs , 15e CHICKESS Heavy Hens, lb 15c Medium Hens, lb. : 14c RODE'S MARKET Thone Main 904 Phone Your Order .financial oieer Mixed Trading Tone Today In The Egg Market PORTLAND, June 3 UP) There la a badly mixed trading tone In eggs but the general situation appears easy. While late receipt have de- creased and this would ordinarily call for some adv.nce In the price, the peddling tactics of so-called Indepen- dent or unattached growers, keeps the market constantly weak and at a very low level. Quality of eggs Is generally very favorable and this la an aid In mln - talnlng retail sales. Make of butter Is again showing decrease In the local territory and ahlpment are also decreasing. Mar ket appears full of supplies and trade conditions are Just about steady. But terfat generally uniform. To take on a few toiu or so of hen turkeys around 15 16c lb.; a record all time low here for dressed birds, They are offering around 12c lb. top. for toms. Strawberry prices were weaker and lower In spot with the recent tow mark again established in spots. The slump appeared due to the absence of buyers on the farmers' market, which caused much peddling from store to store. 1 1 ! 1 Somewhat better tone Is showing for cantaloupes here after the recent severe congestion. Prices are higher In spots for top quality but much stale stuff Is selling for whatever buyers will offer. Scarcity of tomatoes has suddenly followed the liberal Increase of de mand. The hothouse stock was in insufficient supply and prices were lc higher. Outdoor southern stock al so higher. Movement of dressed lambs Is somewhat more favorable as a result of the lower prices. Yearlings, how ever as well as ewes are a trifle alow. Notes of wholesale trading: Watermelons to arrive the week end are quoted 4c lb. There is a better local demand for old potatoes. New potatoes appear about steady. New onions are unchanged with a slow movement. Orland, Cal., apricots are quoted $1.50 for lugs. Quality good. Celery market Is slow but quality Is good. Asparagus prices are steady with a fair movement. KIDNAP THREATS MADE TO ACTRESS (Continued From Page One) "cheap chlselers" who were trying to collect "easy money" and who had no intention of harming the little girl, Maria. Rudolf Sieoer, husband of Miss Dietrich, appeared not to be alarmed over the situation, leaving last night for the Paramount studios near Paris after a stay of two months in Holly wood on a leave of absence. The plot against the actress and child was revealed through a mix-up in addresses on letters sent by the extortionists and disclosed the kid-i napers are attempting their nefarious scheme at the same time on Mrs. Egon Muller, wife of a linen import er, and her small son. Mrs. Muller received a Uetter intended for Miss Dietrich, while the actress received one Intended for Mrs. Muller. Mrs. Muller reported the case to the district attorney, who learned the Beverly Hills police department had been Investigating the threats against Miss Dietrich and her daugh ter for the past two months. Josef Von Sternberg, director of the film productions In which Miss Dietrich has appeared since coming to this country from Germany, told i authorities that he also had received threatening letters which demanded i $20,000 under penalty of death. Business Man Makes Strong Statement Oklahoma City, Okla. Robt. A. Stmtc. prominent business man here, recently said : "I suffered for ten years with as bad a case of stomach trouble as any man ever had. It was impossible for me to enjoy a fingle meal without suffering. Five bottles of Sttrgon made me feet like a new man. I have never found anything to equal Sargon Soft Mass Fills. They regulated roc perfectly and relieved me of constipation ot years standing." Red Cross Drus Store. Adv. Phone Dividend Declared at $1.75 NEW YORK, June 3 VP) In some quarters' In -Wall street, It la felt the action of the Pacific Telephone & Telegraph Co., In declaring the reg ular quarterly dividend of 41.75 on the common stock may be taken as an Indication that the American Tele- phone & Telegraph Co., which con- trl has no present Intention of changing Ita own annual dividend rat of 9. Pacific. Is one of the largest of the American Tel. tc Tel. jsubsldlarles and A. T. tc own more i than 83 per cent of Its common stock, !T1" Pacific company In tho first quarter earned 91.40 a ahare. PORTLAND PRODUCE PORTLAND. June 3 MP) Wool 1D32 clip, nominal: Willamette valley; 6c lb.; Eastern Oregon G0c. Butter, butterfat, eggs, live poul- try. country meat unchanged. t Mohair, nut, cascara bark, hops, onions, potatoes, new and seed po- tatoes, wool and hay quotations un changed: LIVERPOOL WHEAT LIVERPOOL. June 3 VP) Whuat closed: July 59!4; Oct. 60S: Dec. 61. Exchange 3.69. Dl'TTERFAT SAN FRANCISCO, June 3 w But terfat f. o. b. San Francisco 18c. SILVER IIICIIKR NEW YORK. June 3 IP) Bar sil ver He higher at 27!,c OMAHA 8HKEP OMAHA, June 3 VP) Sheep 5,500: steady, California lambs 5.60w6 00. native lambs mostly (6.0006.15, fed i"""183 . FANCY FRENCH BARROW ! LILLE, France VP) A wheelbarrow de luxe was shown at the Lille fair. It had a pneumatic tire with broad tread, but the chatsis was the samel old pattern. I Start Now To Here Are f j ummer Summer clothes are so easy to make that it's really no trick at all to have lots of them ! Especially when there is such a variety of lovely new fabrics as these fashionable dots, prints, rayons, silks, rough and mesh-like cottons and batistes in every" color and design you have been thinking of. Every yard is fresh, clean, new. i v . - 1 1 S6-IN. CIIAMDRAY. Plain or Stripe, yd. 9c G. rMU.AOJIEI SHEETING. 31 Inches wide. yard - LONGWEAR Tl'HINt) $6 inches wide. ysrd - LINEN TOWELING Unbleached. vard .. 19c 14c 10c r PLAIN RAYON TAFFETA 59 Inch, yard 39c SES 21c 9Sc LONGWEAR PILLOWCASES 12 I 36 each R WON BEDSPREAD: SO X 105 ach IMH N KOHLS 54x76. each S1.76 TTORS MITTRESS PROTECTORS 54 X T6. each S1.79 JJ)1-3V't PhorieMairi CHICAGO June 111 - (U. 8. D. A.) Hogs 10.000: alow, steady to weak: good to choice 180-220 lbs. 13.40 e3.50; top S3.S8. Cattle 1,000; active, steady, steers 4.76 16.00, vealers strong, selected 6.76e6.BO. Sheep 7,000; steady to strong with higher tendency; good to choice na tive ewe and wether lambs $6.00 0 6.50; plain shorn yearlings 44.00 M.50; heavy shorn ewes 1.001.50. LtrMllKR REPORT SEATTLE, June 3 VP) The West Mohr's Next to Sacajawea Hotel U. S. Gov't. Inspected Meats Pork Roast Choice - Lean Pound .... 10c (MHI1aaHaaaH Beef Roasts Grain Fed Steers Pound 14c Spare Ribs 21bs.... ...25c Pork Steak Tender Young 2 lbs 25c ORDER CERTO NOW FOR CANNING No Cold Storage Products Make Your Own Crisp Summer Frocks! Yards and Yards of the Newest Silks And Rayons ALL RAYON FLAT CREPE, 39 in. wide. Plain colors. Yard 59c SILK AND R A Y O X FLAT 79c I FLAT CREPE. 39-ln. wide. Plain. Yard RAYON AND COTTON CREPE. 36-ln. wide. Floral prints. . Yd 39c ALL SILK 12 MOMME B PON- 19c OEE. Natural tan only. Yard Heavy Wash Fabrics BROADCLOTH. Past colors. Yard . MESH CLOTH, fast color, yard.. 36-ln. wide. 19c 19c SII.VANIA PRINTS. 36-ln. wide. TuMast colors. Yard 10c in. wide. 19c COTTON S ITING. 36-ln. wide. Sturdy weave. Tubfast, Yard . Smart Junior Misses Prefer Patent Leather ONE STRAPS AND TIES $1.98 Sizes 11 ! i to 2 These youthful styles will sec 'you through a Summer ot parties, dances and vacation trips. They use "cut-out lor coolness, and hare rubber topped heels lot com-lort. boast Lttfcoe'rrVfcM aieotlatlon' today reported 321 mills operated at 20.8 per cent of capacity for the week ending May 28, as compared with 23.5 per cent the previous week and 44.3 per cent for the same week last year. Shipment for the week, reported by 216 mills, were 15.7 per cent over production and current new business was 5.0 per cent over production. Rail business, local trade Bnd new export business showed considerable de creases over the previous week. Inventories, 144 mills reported, de creased 9.000.000 feet from the week ending May 21 and are 18.4 per cent leas than at this time last year. Market Phone M899 Shoulder Ribs Pound 5c iiA.vim itiiEit Sausage Ground Fresh Daily 2 lbs 25c Lamb Stew Pound 5c Picnics Carsten's Mild Cure Pound .... 12c Sheer Wash Fabrics FAST wide. Yard . COLOR VOILE, Pastel colors. 17c HE, 40- FAST COLOR ORGANDIE, 40- ln. wide. Permanent ttnish. Yd. 25c PRINTED VOILES, 36-ln. wide. ; wide. 5c color. Floral patterns. 4 aw Yard FLOCK DOT VOILE, fast color. 40 Inches wide, yard 25c Domestic Fabrics KI.EArilKI) Ml'SMN. &4 60 thread count. Sturdy .quality, yd 7c CHEESE CLOTH, bleached r.r,d sanitary. 5-yd. package 15c LONGWF.AR SHEETING. 81-tn. wide. Bleached. Yard Tl RKISII TOWELS. White with borders. Each 27c bi size. 10c NEW LOW PRICE! - ( No. 460 I Formerly 79c NOW only Medium-weight chiffon clear, sheer, lovely! All silk picot top woven with an ex tra thread for strength! Re inforcements below welt prevent garter runs! Sum mer shades. ' jj Gaymode is Always j First Quality ' NEW LOW PRICE! NOW only Semi-service weight silkl A fine mercerized top with plenty of stretch! Re-in-forced mercerized sole and toe for wear! . Summer shades. '., '1 Gaymode is Always , First Quality NEW LOW PRICE! NOW only Extra heavy service weight . silk I Re-inforttd mcrccrkcd heel, toe and a top that'll "give"! Summer shades. r ! ii Gaymode is Always First Quality "j 0jAimod4 NEW LOW PRICE! NOW only Extra fine gauge medium weight chiffon! Double all-silk top, specially re-in-forced toe and sole for wear ! ' ' ' 4 Gaymode is Alwayi First Quality NOW only Extra fine flange! Semi service weight silk an extra twist to the varn gives extra slieemess! Dou ble silk top, (mercerized lined) silk sole and tot! Summer shades. '. j Gaymode is Always First Oualitv J. C. Penney Co. 1307-1309 Adams Ave, La Grande, Ore. &)C Formeily . .-.3, Formerly NEW LOW PRICE! Formerly
