.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