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About Oregon City enterprise. (Oregon City, Or.) 1891-194? | View Entire Issue (Nov. 8, 1907)
.OREGON CITY ENTEEPEISE THIRTY-SIXTH YEAR No. 48. SPECIAL SESSION FINANCIERS WANT PRESIDENT TO CALL CONGRESS TO GETHER NOW. NATIONAL OVERSIGHT Wall Street Robberi Become Fright ened At Each Other; Want Rooeevelt to Make Other Fellow Be Good. A apodal from Washington any: It wan learned' here Katiirday from tin doubted source that President Rooao volt la now being iirROfl to cnJI an ex tra aeaabm of Congrea to deal with tho flimnciul situation, The rcinn'nt come from and represent tho Judg inunt of tho couaervatlvo leader In th financial world, whi hnv repro nettled tho present Ituatloit aa one compelling action of a character that will eradicate all ground for auplion of American Industrial method. Th" President ha been aaaured from tnoHt reliable source that thorn will bo no optHiKltton on the part of tho great litditatrle of tho country to tho enactment of the neeenry lawa to carry out hi Idea of Federal con trol to the extent to which he ha ex pounded them In hi recent public Utterance. Themt anatirnnre are mado at I bin time to avert what ha lnti represented aa the moat danger ima situation which ban confronted tho country during an extended his toric period thjtt la. th seeming growing lark of confidence baaed on known Irregularities In bualnes meth od In (.nine quarter and no sure and speedy mean of separating thn good (nun the uiiHoutul. To thU end It la suggested that the President aet Congress to th tnak. first, of making auch amendment to tlii financial lawa a will r-ult In the maximum of flexibility wltU the mini mum of basic change lit our system: next, and perhapa moat In lmixirtance, thiit the President embody hla aug goatlotis on corporation contnd In sue rlnct reconiniendatlona for enactment Into law. In thla connection attention ha been directed to what ho aald at Province-town, Max., AtiKuat 2 laat: "I bellve In n, national Incorporation law for coriMiratlona engaging In an Interstate business. believe, furth ermore, Hint t be need for action la moat presHlng aa regards thoao cor poratlona which, because they are common carrlera, are performing a quaalpublle function and can be com tdetely controlled In all respect by thn. Federal Government. Uy thex erclao of t ho iMwer conferred under tho Interatat" commerce clause and, If necessary, under tho poatroad olauae of tho Conatitutlon, the Nation al Government ahould exercise over them a almllar supervision and con trol to that which It exercise over National bnnka. We can do thla only by proceeding further along the line marked out by the recent National legislation. Almoat every bltt bualnesa concern la eimniilriK In Interatato commerce, and auch a concern moat not be al lowed, by a dextrous ahlftlnft of poal tlon, ax nan been too often the caao In the pnat, to eacnpe thereby nil r aponalblllty either to atate or to Na tion." HAWLEY APPOINTS PRIVATE SECRETARY Ronald C. Clover, of Salem, va Saturday appointed prlvato secretary to Congreasnmn w. C. 1 (a wiry, and will assume hla new duties January 4 next. Thla announcement will be hailed with delight by the many friends of the popular young lawyer, whose sterl ing worth la thua recognised. While, OongresHman llawloy occu pied th chair of history and econom-' lea In Willamette university, Mr. Olover acted as asalHtant professor In that department and was also secre tary to Professor Hawley when he was at. the head of thnt historic In stitution, so his duties will not be en tirely new to him. Congressman and Mrs. Hawley do part tomorrow for Washington, D, C, to take up their winter residence. PORTLAND BANK CLOSES DOWN The Title Guarantee & Trust Com pany, of Portland, has closed its doors and boon given over to a receiver. The distress of this bank reuched a climax Wednesday, when Judge Wol verton of the United States District Court ordered the Institution Into re ceivership, on application of Nathan Coy, a stockholder, through' Joseph Simon, attorney. Judge Wllverton appointed as receiver George H. Hill, vice-president of the bank. The mat- fer was taken Into the Federal Court lincuiiHit Coy I a non-roaldent of Ore gon, IIvIiik near I Inn Ion. Tho bunk closed on Monday of last ww'k, wltlt only !Mmik bunk money In tt m vault unil $:mhki dim from other bunks, out of deposit aggregating $!. Koo.ooo. hi tho succeeding holiday proclaimed by the. Governor, th hank, unlike the other money Institution of tho city. remained closed. Yeater day morning It was agreed between the officer of the bank and the taI 1 n k stockholder that tho liiMtitUtloii should ko Into tlm hand of a receiver EXCI8E LAW RALLIES. ThoHft luteroated In tho au-cea.i of the cxflao law, to bo voted on at thn coming election 111 Oregon city, have! perfected arrtuiKemeittM for a aerlea of moetliiit In aid of th" auccean of 'hla in'iiMiir, It la tho puraan to luive gcaid apeakera who can explain the "Kiaid thliiKH" In thla propoaed law to thoao who wlah to know more about It. To, that end meeting will be held, with apeakera, named aa fol low: Monday, Nov. 11, at the Ilaptlat church. Dr. Krvln 8, Chapman apeak- jer. Monday. Nov. IS, Haptlat church, Dr. J, Whltcomb HroiiKher. Friday, November 2'J, place to b an nounced. L. C. Otto, of Lincoln, Neb. Children will not ye admitted at theao meeting. All voter are Invit ed to attend.' CLEARING-HOUSE CERTIFICATES ISSUED THE CR0P6 TO BE MOVED WITH SECURED PAPER PROMISES TO PAY. In order to supply the temporary need of currency and furnlah mean for marketing tho crop of tho atate, the Portland Clearing llmiau Aaaocla tlon haa authorized thn laauance of 15, IK) and 120 for Reneral circulation, Theao check, or Clearlnic Houae cer tificate , will be baaed ill"n dcpoalts of note, bill of exchange nnd other negotiable. Instrument that are secur ed by wheat, grain, canned flan, lum ber actually sold, and other market ablo product or paper approved by tho committee that has been appoint ed by the aaaoclatlon and by which the certificate will be Issued. The certificates or emergency bank .note will bo laaued throiiKh the Portland Clearing Houae Aaaoclatlon to the extent of two- thirds only of th value of the aecurltle. The certi ficate will be redeemable in caah on February 1. IMS. miA will be uaed in all trananctlona the aame a currency. They will be received by the bank In payment of all oblation and will circulate tho aame a gold, silver or paper money. Thla" plan for providing a temporary circulating medium was adopted at a conference of the representative banker of the cities of Portland, Ta coma. SKkano and Seattle. MILWAUKIE CLUB STILL RUNING CHARGE MADE THAT THE CLUB HAS BEEN DOING BUSINESS ALL THE TIME. The Oregonlan tells tho following story of recent operations by the Mil wankle Club: If the story told by O. L. Puryear, of S23 Market street, Is true, there has been "something doing" at the Mllwaukle Club since the date It was reported closed by the Clackamas county authorities not long ago. Mr. Puryear has had a complaint prepar ed In the law ofTlces of Plggott, Finch Bigger In a suit by which he seeks to recover damages from the manage ment of tho club In the sum of $1000, or double the losses he asserts he has sustained by playing gnmes of chance at that resort within the past month. Mr, and Mrs. Puryear came to Port land only a few weeks ago from Walla Walla, Wash., where for several weeks they were employed as cooks In the harvest fields. They brought with them their earnings, amounting to about $1100. In the complaint which has been drawn up, Puryear alleges that he visited the club on the nights of October 20, 28 and 20, being first escorted to the resort by a "capper". On tho first visit he says he lost $20. His second and third visits proved no more profitable to him In an effort .to recoup hi losses, for he contributed the further sums of $180 and $300, re spectively. He now asks to recover $100 or double the amount of his losses at the gaming table. Puryear alleges that the money was lost In an attempt to beat stud poller, 21 and faro. Attorneys for Puryear said Tuesday the complaint would bo filed as soon as the series of, holidays now in force has ended and legal business can be transacted, . Advices from Stockton, Cal state that at this time last year, there were available 150,000 bags of onions at an average price of 75 cents a sack; to day there are less than 16,000 sacks throughout the State, and within a few days the price is liable to be $3 or $4 a bag. OREGON CITY ENTERPRISE, FRIDAY, NOVEMBER 8, 1907. JOURNAL EDITOR WANT8 TO A83IST IN CARVING UP AND DISTRIBUTING OLD CLACKAMA8. 'i THE MILWAUKIE CLUB Furnishes Him With Excute for At tacking the Moral of Clackamae County Official Our Ter ritory Looks Good to Him, Th Portland Journal wants part! of Clackamas county taken over by i Multnnomah, and endeavors to start: something In the following screed: j Deapalrlng of ever being able to j compel th present officers of Clack amas county lo enforce the laws ' agaliiHl gambling In the notorious , Mllwaukle Club, citizens of Mllwati-I kle, Oak Grove and other suburbs j south of Portland are agitating that; the northern portion of Claekama county, Including that territory be tween the present county line and the Claekama Hlver be ceded to Mul tonoiiiah county, Everything possible has been done by the law-abiding resident of Mll waukle and Ouk Grove to compel the county officer, Sheriff Ileatle and District Attorney Hedge of Claeka ma county to close down the Mll waukle Club, which Is being operated In open defiance of the law. Hut so potent 1 the Influence of the gamb lers over the Sheriff and District At torney that tho law anil the demands of the people have been merely laugh oil at. Goaded Into action by the continued winking at crime by the county offi cers they have now decided that their only hope 1 In being ceded to Multo nomah county where the antl-gatnh-Ilng laws are enforced and some pro tection is given against the law-break- Other giaid reasons are being ad vanced by refldcnts of Mllwaukle and Oak Grove why the country north of tho Clackamas should be ceded to Multoiiomah county. At present the roads are in a disgraceful condition and the County Commissioners of Clackamas county will not appropri ate money u repair them. Roads leading to Oregon City are kept In reBHonahly good condition, it Is said,' while the residents of the northern half of the county who do their trad ing In Portland are compelled to make their way as best they can. Most of tho residents of Oak Grove are Portland business men who com mute dally. They are all anxious, It Is said, to have the change In bound ary made.. The farmers living In the district and who sell their products In Portland are also working to have the change made. t D. Ie Paget, secretary of the Pbrt land Trust Company and president of the Oak Grove Improvement Associ ation, has called a meeting of the res idents of the northern part of Clack amas county to bo held ,In the Oak Grove school house when the ques tion of changing the boundary will be discussed. No sides have been taken by the Improvement company; the meeting Is to be held so that the nro and con of the question can be dis cussed, and the sentiments of those Interested be ascertained. Mr. Paget has received several let ters from residents bearing on the promised change. H.W. Inahall. pres dent of the Farmers' Mutual Fire Re lief Association, declares that he Is In favor of the change. Representa tive C. W. Pressor, of Oregon City.has written Mr. Paget a letter saying that while he recognized the justice of the claims of the Mllwaukle and Oak Grove people, yet he thinks the rest of Clackamas county cannot afford to lose the northern portion. That the sentiment of those people Is that they are merely being kept to help out In taxes Is testified to by the following letter from F, A. naumann, of Gresham: "Clackamas River Is the natural boundary. How a sane person could have established a different line be tween the two counties it Is difficult to Imagine, Not only would a change of boundary be of great benefit in many ways, but especially It would assist us by giving us road improve ments. It would also be a decided ad vantage to the school system, as it would leave the school district in much better shape. "Perhaps Oregon City Is doing the best It can under the circumstances, for we could hardly expect them to Improve tho roads tributary to Port land when they derive no benefit In doing so. Our only hope Is to have the boundary changed bo that the line will come on the south bank of the Clackamas River, thus throwing the burden of expense of bridge construc tion on Multonomah county. If that be done perhaps we can work the im provement." Why the Journal man wants the people of this county to turn the grindstone at this time we fall to fully understand. Where the Journal r-nnnced a cut of ten per cent In the would, get any more circulation if we' prices of meats, and further reduc gave them half the county we fail to Hons are Bald to be contemplated. JO o P- JRJBIMIBJ Men's and Boy's Latest Suits and Overcoats. Store Brim f till of Bargains in winter Goods for Men, Women & Children. ASK FOR RED TRADING STAMPS see. The hashing over such a story fills their columns, but so would clip pings from a last year's almanac. No one but a person with an ax to grind could see any cause for such a move. I'rtll Portland puts a stop to gamb ling in her own environs there should be no clubs thrown In this direction. And her efforts, weak aa they are, are of too recent an Institution to be certain whether she really means It or is Just playing with the public. It Is now a matter of history that many cities have promised elaborate street and road Improvements to peo ple of territory they wished to annex, but after the annexation the man who wanted the street or road paid for It, not the city that took him In. So in this case: The people of the district taken in. If such should occur, will pay for their streets and roads and In all likelihood half their tax money will be used closer the city proper. People who have acreage to sell, and who- want a big bonus for the land, might sell faster if they could point to the fields and say they are suburb of Portland. But Is Clacka mas county to be carved up to make money for a few real estate men who have little Interest In anything not in Portland? A citizen of Gresham also thinks it would bo nice to slice up Clackamas. But isn't he stretching the rubber in his neck a long ways to get over here? He wants a slice off Clacka mas, and thinks the man who put the line where It is must have been crazy. What a pity we haven't the survey or's oplnoln of this Gresham scribe. With 13 holdups one night this week, within Portland, one can scarce ly see where the plea con be made of strict law enforcement. Get that beam out of your eye Mr, Journal man, before you come over Into Clackamas to preach. The attack on, Clackamas county of ficials is not In good graces at this time, when the whole police and de tective force Is under suspicion, In vour own city. You must show us, Mr. Journal editor. All Right tp Steal From Public. The case of Wlllard N. Jones, for merly a State Senator from Oregon, and Thaddous S. Potter, a prominent attorney of Oregon, came up on ap peal on Tuesday before the United ptqtPS Pircuit of Appeals and was ar gued. S. B. Huston, counsel for Jones and Potter, based his case on the stat ute of limitation, and on the ground that there was no existing statute In which to defraud the government was a crime. The packing houses In Chicago, i Omaha and other places have an- AT THE STORE OF Successor to ADAMS BROS. Oregon Gity's Busiest REDU CTI !ON ALL OUR! Ladies Coats, WE GIVE HANDSOME PREMIUMS MONEY CENTERS HOLD TO GOLD BANKS OF EUROPE ADVANCE DIS COUNT RATES IN EFFORT TO STOP EXPORT. NEW YORK, Nov. 7. The contest of the European money markets to re tain their gold resources was Indicat ed by the simultaneous action Thurs day of three of the large central banks of Europe and a call for a meet ing Friday of the governing board of a fourth. The Bank of England ad vanced Its discount rate to 7 per cent, a rate which has not been reached since 1873. The Bank of France ad vanced Its regular discount rate from atne rate for ,oang on 8ecuritles at 4 per cent. The National Bank of Bel glum advanced its rate of discount from 5Mi per cent to 6 per cent, and Its rate on drafts to 6H per cent, and Dr. Koch, governor of the Imperial Bank of Germany, called a meeting of the governing board for tomorrow, which is expected to advance the dis count rate from 6 to 7 per cent These movements In Europe are re garded as an indication of the ability of New York to command gold and the efforts of the European banks to protect themselves against this de mand. Even these high rates of discount, however, are regarded as insufficient to prevent the further Importation of gold Into this country, in view of the large credits which are being created by the shipment of wheat and cotton. The high rate fixed by the English bank Is not expected to ar rest entirely exports from London to New York, but is counted upon in London to equalize the distribution of the yellow metal among European money centers, so as to offset losses to America by Imports of gold from other places. The fact that the Bank of France had advanced its rate, al though only to 4 per cent, Is consid ered a recognition of the severity of the pressure upon the bank's great gold resources. This action is of special significance, because it is the consistent policy of the Bank of Fiance to afford commerce the bene fit of a low and uniform rate of dis count, and even to buy gold at a loss unless conditions in the International money market make It necessary to protect the reserve. The eugagenient of gold Thursday brought up the total Importation on the present movement to $40,425,000, ESTABLISHED 1866. Store and Misses Suits, , and Skirts. o 0 an amount which would permit a loan expansion of more than $150,000,000 if the legal reserves had not been al ready Impaired. The continuous arrivals of gold, which were swelled by $1,600,000 coming on the Teutonic Thursday, are rapidly replenishing bank reserves and affording the basis for protecting cred it. It Is not anticipated that it will be necessary to issue small scrip here, as is being done in other cities, al though wages In many cases will be paid In checks. LITTLE MONEY IN TREASURY The Oregon State Treasury Is feel ing the effects of the financial strin gency, and within a day or two the available cash will be exhausted and the Treasurer will begin Indorsing warrants "not paid for want of funds." The cash is In the banks, and the banka won't give It up. State Treasurer Steel says that all his deposits are ecured, and while he has not gone over the securities to make certain, he believes the state will lose nothing even if some of the depositary banks should fall. The scarcity of money In the State Treasury has been brought on more rapidly by reason of the fact that county treasurers remit county taxea by draft or bank check, and since the local banks will not cash these. It is necessary to return the mto county treasurers. The county funds are al so tied up In banks so that county treasurers cannot remit the cash, and the State Treasury must go without funds. State Treasurer Steel says that the amount of state money on deposit In the banks is not large, as the general fund is low. Short Session Council. Council met In regular session Wed nesday evening. The resignation of E. P. Rands, to take effect the first of the year, was received and accept ed. That makes it possible to elect hla successor at the coming election. Bills were ordered paid, street as sessments made and considerable rou tine business transacted. Adjourn ment was taken to next Wednesday evening, at which time there Is much business to come up for an airing. The Eugene Guard says: The sua picion that Wall Street had "tainted' banks as well as "tainted" money haa been fully proven, and the demand for clean banks and clean money justi fied. ' ON