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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