TIIE MOKAIJNCi OREGOXIAJf, FRIDAY, MARCH 15, 1907.
STOCK MARKET ON
JEHCE OF PIC
Wild Selling on Wall Street
Caused by Crop of
Rumors.
NOT A FAILURE RESULTS
High Money Rates and Rumored
Troubles of Harriman Start Stam
pedeDenials Have Little EI
feet Saved by Foresight.
; NEW YORK, March 14. Under the ef
fect of 25-per-cent money and the general
pessimistic sentiment developed as a' re
sult of the recent heavy decline, trading
on the Stock Exchange today reached a
stage Of demoralization bordering on
actual panic. The worst period of the day
was shortly before the close, although
there was an extremely violent falling
off in prices between 12 and 1 o'clock. New.
low records .for the year and in some in
stances for several' years,' 'were 'estab
lished in the active speculative issues
under precipitate selling, with the market
"apparently without ' buying orders other
Than thoso of the bears to cover their
short, contracts and realise their profits.
The closing quotations showed the fol-.
lowing declines for the day In leading
shares: " ;
Extent of trie Declines.
Amalgamated Copper 174, American
Smelting 16W St. Paul 13VI. Consolidated
Gas 7, Ielaware & Hudson 194. ' General
Electric Shi, Great Northern 5,
Minneapolis. St. Paul & Sault
Ste Marie 6, Missouri Pacific .'Na
tional Lead 5, New York Central 6, Nor
folk & Western Thi. Northern Pacific 8,
Pennsylvania 64. Reading- 20, Southern
Pacific b. Twin City Rapid Transit 5,
Union Pacific 20, United States Steel
and United States Steel preferred 4.
In most instances even these figures do
not represent the extreme declines, as
Reading closed 2 points above the lowest
and Union Pacific 4V above the lowest of
the day. The total sales were 2,719.906,
tile largest total on any day of the recent
trading. The announcement of Govern
ment relief for the money situation was
not received until after the close of the
Stock Exchange.
Afraid of Roosevelt.
Other than higher money and the gen-
eral bearish feeling, there was nothing to
account for the market's weakness un
less it was the nervousness of the stock
market traders as to the attitude of the
National administration toward the rail
road corporations. Just before the mid
day break a rumor was circulated and
given credence to the effect that a banker
who had just returned from Washington
iad reported to his friends that the Presl
dent had declared that his views as to
the railroads had not changed and that
he saw no reason to change them at this
time. For several days Wall street had
taken the view that the -heavy decline
had not been without effect in- Washing
ton and that a modification of the atti
tude of the President and the Interstate
Commerce Commission toward th great
trunk lines might be looked for. Great
disappointment was expressed at the news
credited to the banker quoted as author
ity for the statement that there will be
no such change.
The banker himself, when - approached
on the subject by newspaper men, said
he did not care to be quoted further than
to say that he believed the administration
thoroughly understood the financial situ
.ntlon" and the conditions as they applied
to railroads and industrial corporations.
Relief Comes After Close.
Rumors In circulation during the after
noon that Government relief might be
looked for, official confirmation of which
was received after the close, were with
out effect on -the stock market trading.
jsone or the reports in circulation yester
day as to foreisn financial difficulties re.
reived confirmation today, and in fact the
-.liomlon hiarket showed advances for
American securities. This fact, however,
whs without effect on the New York E
-change except for a short time after the
opening of trading.
Business on the New York Kxchange
started rather quietly, apparently influ
enced by the better prices in London, but
nerore n o clock a heavy selling move
ment was 4n ' progress and prices lost
from 1 to 4 points. Union Pacific led the
early decline with a break of 3Vj points
to, 142 and Amalgamated Copper followed
with a decline of 3V to 93. United States
bteel offered more resistance than mos
of the list and after selling at 38, It
rallied to above 37, helping to steady
! the remainder of the list.
As prices steadied, "there was a falling
on in business and the market remained
: relatively quiet until between 12 and
o'clock, when the bears centered their
' efforts on t'nlon Pacific. Reading and
Amalgamated Copper. The whole list
was affected by the rapid falling oft In
these shares and the scene on the Stock
Kxchange became one of wild confusion
There -seemed to be absolutely no sup
port to the market, the trading becoming
demoralized.
Storks Recklessly Sacrificed.
This ' downward movement seempd to
spend its force in a short time, however.
only to be succeeded toward 1:30 o'clock
by the wildest trading that has been
known on the Kxchange pincp the North
rrn Pacilic panic of 1901. Reading fell
rapidly to below par. getting down as
low as while Union Pacific went to
1.11, .St. Paul to 130 and Amalgamated
Copper to 9,.
1 At this time traders thought thev had
seen the worst of the day, but still more
i sensational declines, with the most ex
cited trading scenes came Just before
the close of the tnarket. Brokers who
' had called on their customers and who
had not received satisfactory responses
, threw over their stocks almost without
regard for the prices they would bring
: and it was in this slump that the extreme
; low prices were reached. Amalgamated
i Copper selling at SO. Atchison at S2 5-S,
; R. & 0.at STi, Canadian Pacific at 167,
i St. Paul at l-. Pennsylvania at 114. Read
! ing at 91. Southern Tactile at 69?i and
Union Pacific at 120Vi. After the mos'
, -urgent selling had been accomplished
there were sharp rallies in a number of
the shares, most of the leaders closing
from 1 to 3 points above the lowest.
Rumors Aggravate Scare.
j Wall street was so excited during the
t worst period of the afternoon that almas
j any rumor received some belief. One
i report that had considerable effect on
! the market, and on Luton Pacific par
' ticularly. was that a serious break had
! occurred in the friendly relations be-
itween E. H. Harriman and the banking
firm of Kuhn. Loeb & Co. According to
, this report, Mr. Harriman had been re-
l quested by the banking firm to take up
(large amount of securities which the
bank was' carrying for lilm. ' The atory
I was almost instantly denied, but not
I withstanding the denial continued to
- have effect.
Another reason put forth for the heavy
break in Union Pacific and Reading,
accompanied by the sharp falling off in
Baltimore & Ohio, was that the union
Pacific was having difficulties in financ
ing its purchases of Baltimore & Ohio,
Atchison and other stocks. In order to
finance these operations, it was asserted,
the road would be obliged to issue short-
time notes and the issuing of those notes
would be affected by the fact that the
recent declines in Baltimore & Ohio and
Atchison show tosses of many millions of
dollars from the prices at which they
were purchased by the Harriman inter- i
ests. It was pointed out also that the-j
decline in Reading shows a heavy loss
to Baltimore & Ohio, which holds about
130,000,000 of Reading stock. -
- Caution Prevents Failures.
After the close of the market much re
lief was expressed that there had been no
failure during the day and that of all the
rumors in the street there seemed to be
none affecting the solvency o any bank
ing or brokerage house of any importance.
ne- banks reported that their demands
for further collateral from brokers had
met with prompt response and that, so
far as they were concerned, their posi
tion as to the stock market was satisfactory-
A remarkable feature of the decline in
Wall street values Is that it was fore
seen several months ago and that warning
was given, so that brokers generally had
protected themselves by requiring ' their
customers to deposit and maintain ample
margins on their trades. In this respect
the present situation differs widely from
that of 1901, when the contest over ; the
Northern Pacific brought about panic at
time when the bull speculation was
rampant and when the public, was car
rying . heavy lines of stock on compara
tively slender margins. At that time
brokers suffered heavy losses -through
failure of their customers to respond to
calls, for funds. .So far as known, no
such state of affairs exists today. Some of
the larger commission houses have re
ported for. the last several weeks that
their customers were out of the' market
entirely. - .
Secretary Cortelyou s announcement 1 of
Government relief was received with
much satisfaction -in financial circles, it
being pointed out that it would aid the
banks greatly in making payments due on
the Pennsylvania railroad note issue and
the Standard Oil dividend.
ALLOW RAILROADS
TO FORM TRUSTS
SEES ENCOURAGING FEATURES
Vanderlip Says Demoralization Is
Confined to Stock Market.
NEW ' YORK, March 14. 'The ' note
worthy feature of the situation next to
the .extent of- the - decline itself." said
F. A. Vanderlip, head cf the National
city bank today, "has been the resources
shown by the holders of stock in promptly
providing margins. The banking posi
tlon tonight Is remarkable In the fact
that the call for margins has been met
with promptness by practically every bor
rower. The decline, therefore, would not
seem to be the result either of a string
encv In money or an impossibility to
obtain credit, because in spite of the
great depreciation in prices, borrowers
are able to keep margins good. De
moralization has been confined to the
stock market. We see no signs of its
extending elsewhere.
The action of the Secretary of the
Treasury is admirable and conservative.
Certainly no one can criticise it, and the
measure of relief which it offers will
be considerable, both in a sentimental
and actual way."
SENTIMENT AND A'AGUE FEAR
Morawetz Says Speculators Take Ad
vantage of Them.
NEW - YORK, March 14. Victor Mora
wetz. . chairman of the A. T. & S. K
company' s board, had the lonowing to
say as to the causes of the present de
pression in financial circles:
I am satisfied that the depression is
caused almost entirely by sentiment and
vague fears, most oi wnicn are uniouna
ed. Speculators for a decline have taken
advantage of this condition and have
used every trick in order to depress
values, with the result that many weaker.
timid holders have been led to sell at
sacrifice.
Fears are entertained bv many that
railway stocks and bonds have ceased to
be sate investments Decause-oi me nos
tile attitude of the public to the railroad
companies and the danger that Legis
latures and Railroad Commissions
throughout the country will reduce rail
way rates and diminish the net earnings
of the railway companies. There is also
a fear that a severe stringency in the
money market may be impending. I think
these Tears are greatly exaggerated.
BAD BREAK IN COPPER STOCKS
Panicky Conditions In Boston Close
at Lowest Prices.
BOSTON. March 14. Panicky conditions
prevailed in the local market for copper
stocks today. Brokers were flooded with
orders to sell.- Prices broke sharply,
closing at the lowest. Rates on money
rose generally to 10 per cent. Declines of
from 5 to 20 points were made in the
leading coppers.
Trinity was one of the features of the
local market. It withstood the storm until
about noon and then declined to 191-4, a
loss of nearly 7 points, recovering frac
tionally at the close. In many cases the
selling was in default of a response to re
margin calls sent out last night.
The issues suffering most severely were
Osceola, off 20 to 130; North Butte, off
15 to 78; Copper Range, off 9hi to 73;
Utah, off 12 to 51: Quincy. oft 4H to 116;
Tamarack, off 11 to 112; Butte Coalition,
off 7 to 23.
Harriman Wants Them Made
Exception Under Anti
Trust Law.
NOT" INTENDED TO APPLY
Ruler of Pacifies Proposes Railroad
Combinations . Subject to Govern
ment Control to Prevent Hos
tile Legislation by - States.
The Best Equipped Trust Company
in the Northwest
Established April 18, 1887.
Many of the trust deeds securing
corporate bond issues 'in Oregon run
in tbe name of foreign trust com
panies which have not complied witn
the laws of this state permitting them
to do business here.
The Title Guarantee & Trust Co. is
an Oregon corporation, and is author
ized to carry on its business in any
state in the .Northwest. We can be
your trustee for bond issues and sink
ing funds, and agent for the payment
of interest ; we will gladly give yon
expert counsel respecting the details
of a proposed bond issue, .with a view
to' acting as trustee or' financing the
proposition.
CHICAGO, March 14. "We want the
Sherman anti-trust law repealed so far
as it relates to the railroads," said E. H.
Harriman. in an interview with the New
York correspondent of the Chicago Tri
bune yesterday. "I believe it was .not
intended that its provisions should em
brace the railroads. It was so asserted
at the time the measure, was under dis
cussion prior to its enactment. In the
trans-Missouri case -tried under the
Sherman'anti-trust law it was finally held
that all agreements between railroads
were In restraint of trade. What the rail
roads desire Is that they be allowed to
make agreements . under the regulation
and supervision of the Government. This
would allow the railroads to do an In
terstate commerce business.
'If reasonable rates and agreements,
approved under the proper authorities of
the National Government, could be in
augurated, then legislation by states so
far as it related to interstate traffic might
become null ana void. We believe that
If the National Government should ap
prove our rates as being reasonable, the
action would be reflected in the state
Legislatures."
Save Money by Stopping Work.
Referring to certain features of the rail
road situation, Mr. Harriman said that
two kinds of courage are needed in de
veloping and directing the affairs of
great railroad system. One is to make
large expenditures when times are dull
and the business outlook poor. - and thus
secure labor, money and materials at low
cost.
The other kind of courage, he said, is
to be able to discontinue the expenditure
of funds and the making of improvements
when business is good, money dear and
labor high. This kind of courage, he
said, would' enable the railroad, by wait
ing two or three years, to make Improve
ments at a reduction of 20 per cent in
the cost of labor, money and materials.
He considered such a saving a good profit
for shareholders.
When Mr. Harriman was subsequently
asked what would be the effect on gen
eral business of the withdrawal of the
railroads from the iron and steel markets
he replied:
"I do not wish to answer that question.
I have been asked it before."
Slowing Up Jfot Unmixed Evil.
"Would a check to business be the
worst thing that could happen?"
"It ought not to be an unmixed evil,'
Mr. Harriman said. "The railroads now
have more business than they can handle.
A slowing up would mean the curtail
ment of expenditures, an increase in the
surplus of the road. It would mean also
a lessened demand for labor and a
duced demand for money. These in con-
seuqence would become cheaper.
"There are three things entering into
railroad expenditures the hire of money.
the cost of material, which is largely the
hire of labor, for it is labor that pro
duces the materials, and the hire of labor.
If more must be paid for the hire of
money, then there must be a reduction
in the amount paid for the cost of the
material or the hire of labor. There is so
much money to be spent and the in
creased cost of one item means a de
crease in the other two. The railroads
must hold net earnings, and, as I have
tried to ' make plain, the total costs are
bound to be distributed.
"A check to business is, of course, bet
ter than a full stop, Mr. Harriman said,
"but what would be applicable to a full
stop would be measurably true of
Blowup."
TheTitle Guarantee
& Trust Co.
240-244 Washington Street, Cor. Second
Portland, Oregon
ownership might prove to be the remedy.
I did not say immediate ownership. -
TRAINMEN VOTE ON STRIKE
Railway Brotherhood West of Den-
" vcr Casting Their Ballots.
OAKLAND, Cal., March 14. Forty
seven thousand men, the membership of
the Brotherhood of Railway Trainmen
west of- Denver, are voting whether to
go on strike to enforce demands for an
increased scale of wages. The poll, the
most extensive movement toward a gen
eral-strike since the American Railway
Union tie-up of 1S94, has not been fin
ished. Indications are that the last bal
lots will reach the National headquar
ters at Cleveland, O., about March 25.
The issue seems to depend mainly on
the position taken by the Switchmen's
Union, which as an organization is not
recognized, it is said, by either the rail
road managers, or the Brotherhood of
Railway Trainmen. Tlje master of the
local Switchmen's Union, No. 158, last
night said:
"My opinion is that a strike will not
be called without the co-operation of the
switchmen. The brotherhood has asked
us to vote as Individuals."
BURTON TO STAY IN JAIL
Serve Another Month Because
Can't Pay $2500 Fine.
He
ABILENE, Kan., March 14. Tn a letter
received here today from ex-United States
Senator Burton, now serving a six
months' sentence in the jail at Ironton,
Mo., he says- he considers reliable a re
port from Washington that he must stay
in jail another month unless he pays his
fine of $2500. He says that, as he has
no money and does not want to borrow
tt, he probably- will remain in Ironton
until April 21. His six months sentence
would have ended March ZL
AT THE HOTELS.
Keflex Action on London.
TiONTXX. March 14. In the absence of
any extensive American demand for gold,
the directors of the Bank of England at
their meeting this morning decided that
no increase in Its rate of discount was
called for and it was left unchanged, at
5 per cent.
Consols at the opening fell to S4 5-16 for
cash and again touched fc43 for the ac
count, the latter being: the low-water
mark of 1SS6, but by noon consols had re
covered to S3 for account.
By noon Americans had recovered to a
point above parity. The bankers here say
they know of no serious trouble impend
ing. American bankers here attribute
the present situation almost entirely to
the fact that the demand for gold to
meet the booming trade interests every
where exceeds the available supply of
the metal.
The quotations cabled from New York
caused another setback in Americans,
Union Pacific fell 4, and a few others a
point. The general' settlement was con
cluded without disclosing any difficul
ties beyond two minor failures.
Berlin Also Feels Kffect.
BERLIN. March 14. Prices In an de
partments of the Bourse here were de
pressed today upon New Tork advices.
Various mining stocks declined from 3 to
6 points.
Ed Feldnian Bead.
Frank Nau yesterday received a tele
gram from San Francisco announcing the
death of Ed Feldman, who several years
ago was in business in Portland. News
of the death of Mr. Feldman will shock
those who knew him here. Mr. Feldman
was a member of the firm of Feldman &
Co., in the wood en ware business on First
street. While in Portland Mr. Feldman
was extremely popular and was a member
of the Multnomah Club. He left here
several years ago and went to San Fran
cisco, where his firm conducted a simi
lar business.
TENDS TO STRICT CONTROL
Bryan Says That Means No Evil for
Investor.
BOSTON, March 14. William J. Bryan
a rri ved in Boston this afternoon for a
visit which will include many receptions
and speeches. The chief object of his
visit was the delivery of an address to
night at Tremont Temple. Mr. Bryan
later spoke to Harvard students at the
Harvard Union.
After paying his respects to Governor
Guild today Mr. Bryan visited the Legis
lature, addressing both branches. He
spoke at some length of rate legislation
and declared the tardiness in producing
the final rate bill with its amendments
was a good indication of the influence
corporate wealth exerts over legislation.
He believed that the tendency today is
toward a more strict control of corpora
tions, but he did not think that this
meant evil for the investors.
"It means," declared Mr. Bryan, "that
the natural man whom God made shall
not always be trampled upon by the
man-made giant that legislation has
created."
"It is no wonder said he. "that Presi
dent Roosevelt has cried out against the
swollen fortunes and against the idea of
their descending from generation to
generation. Those against whom the
President inveighed are those who are
not giving a service that is at all meas
cred by the money they receive."
PREFER TO DEAL WITH NATION
Bryan Explains Appeal to President.
Still Favors Ownership.
NEW- YORK. March 14.-W. J. Bryan,
who was in town for a short time today
on his way to Boston, said that the rail
roads prefer Federal to state legislation,
and that is why the presidents of the
trunk lines are appealing to the Presi
dent. He attributed the timidity of -investors
to what he called the attempts
of the railway people to terrorize the
state Legislatures. The tremendous
shrinkage in the market value of stocks
he attributed to the squeezing out of the
water. ,
"It has been the policy of railroad of
ficials to avoid state legislation and seek
their relief from the Federal Govern
ment." said Mr. Bryan. "These big cor
porations prefer to deal with Congress for
the reason that state Legislatures are too
near the people. I have said that the
sooner the railroads are put on an honest
basis the sooner the Investing public will
feel more secure in doing business with
them'
"Dp you still adhere to the position you
took with reference to Government own
ership of railroads?"
"I do, most emphatically, but I said
at Madlson-Su.uare Garden that ultimate
The Portland O. A. Poole. Tokahama; R.
K. Walter and wife. New York; J. A. Orr,
New York; C. L. Lawrence. Buffalo; J. W.
Morton, San Frantisco; E. W. Linforth,
Berkley, Cal. ; W. H. Day, Dubuque, la. ;
Mrs. W. H. Day and maid, Dubuque, la. ;
G. Matigan, Seattle; W. E. Hall, Denver; F.
N, Graham, San Francisco; M. Relss, San
Francisco; A. M. Pontins, San Francisco; J.
C. Knight and wife, Seattle; Mrs. A. Bail
lie, Tacoma; W. G. Drum, San- Francisco;
D. McPhail, New York; R. L. Roas and
wife. Seattle; W. C. Sivyer. Spokane; H. D.
Feary, city; J. S. Hamilton, Fairmont, W.
Va. ; E. C. Smith. St. Joe; M, A. Mayer. New
York; W. Blndger and wife, Seattle; G. A.
Heidlncer and wife, Seattle; TV. T. Cary,
San Francisco; C. Clarke, Philadelphia; F.
J. Raster. San Francisco; J. G. Mcllugh,
Minneapolis; Mrs. J. V. McHugh. Minne
apolis; D. D. Seerie, Denver; G. Kraus,
Denver; P. Seeri. Denver; J. I Schrench,
South Bend ; R. Fernandez. New York ; M.
Newhouse, Vhlcago; G. A. Sisk. New York;
H. J. Mitchell, Pittsburg; S. S. Bernstein.
San Francisco;, G. E. Mevlil, Salt Lake; E.
G. Chandler, Seattle; J. H. Budshee, New
York; J. Dickie. Chicago; D. G. Klinefelter.
Spokane ; M. Cohen, Seattle ; J. G. K ldd.
New York ; P. Yemansky, San Francisco ;
L. E. Hirsche, New York; D. E. Dresser,
Sacramento; G. W. Williams, Seattle; J. H.
Wright and wife. St. Louis; A. S. Collins,
Chicago ; M. H. Abbott, Van, Wash. ; Mrs.
Plunkett, Van. "Wash. ; C. Adler and wife,
Baker City; T. McLelland, New York; A.
Baillte, Lemar: Mrs. J. G. Thompson. Se
attle; A. B. Hurtgen, Millville; r. A. Laurie.
Chicago; J. L. Lawrence, New York; E. F.
McGrosy and wife, Seattle ; W. H. Kinney,
Luna ; H. O. Koeppen, Boise ; O. N. Koep-
pen, totse.
The Hotel Oregon C. S. Moody, St. Paul;
F. L. Mary, Chehails; William Neville. Che-
nans; k i. Mardonald. Seattle; M. M.
Taylor and wife, Idaho; C. E. Hawver, Salt
Lake; NeJlie B. Perkins, Drain; Leon a Per
kins, Drain; Louis Westeshofx, Germantown,
Neb- A. T. CoWiwell, San Francisco; D.
Campbell, Belllngham: H. B. Barber, Seat
tle; J. C. Cecil, city; E. E. Whitine. Chi
cago; J. H. Abrahams, Chicago; G. W. Set-
tlemelr. Woodburn; Robert McKinley, Phil
adelphia; Jeff Berg, Philadelphia; F. C,
Marguardson, Heppner; H. G. Stoeltlng,
Dimmlck and wife, Tacoma; Charfes An-
d re wa and wife, Tacoma ; H. A. Grandy ,
t:mcago; Alvas Brown, Walla walla; w.
Rosenblatt, San Francisco; C. Gerber, Free
mont. Mich.; R. M. Moon, Holland, Mich.;
M. Mcuonaia,. saiem; L. M. Goodstadt,
Baltimore; Ada Glfioro. Baltimore: W .
Doyle. Manitoba; T. N. Heffran and wife.
-New xorn : a. .. HraeiaicK. Seattle : w.
Hailey. city; G. E. Whitney, Tacoma; Ohas.
Rogers; Astoria; W. H- Swayne, San Fran
cisco; W. H. Eccles and wife. Hood River;
C. Lansing and wife, city: Louis Wester-
hoff. Germantown. Neb.: H. Simmons, Lewis-
ton idatio: A. Ebei. iewiston. Idaho; w.
H. Leach. Tacoma; Edwin Harrison, Ta
coma; V. A. Billion and wife. Mohler, Idaho
W. F. McKee. Chlcaeo: Karl Olsen. Seat
tie; Robert H. F"arrlnirtan. Minneapolis ; W.
A. Murchil. Masco : J. D. Bice and wife.
Chehaiis; E. C. Bunce. Chicago; Ben Green-
hood. New York; S. F. Kildall, Belllngham
O. C. Thayer. Omaha: L. Sargent and wife.
Stillwater. Minn.-. W. G. Smith. Oregon
City ; M rs. Mars ery Brown. Astnrla : (flenn
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Frank Gable. The Ialles; Ben Peck,
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hetter, Brekleton, Wash.; A. u. uecK, j
elton. Wash.; George M. Wedge and wife.
Cleveland, O.; M. Kelly, Crookston, Minn.;
Mrs. M. Rowell. Scholls; Mrs. C. Ratcllff.
Scholls; M. Britter and wife. . St. Paui.
Minn.; E. N". Jones, Spokane; G. A. Brown
and wife, Emett. Wash.; H. W. Wilson and
wife. Mountain Home, Idaho; M. M. van
Horn, Astoria; G. P. Morden, Astoria; Wil
liam Lyons, Juneau, Alaska; J. F. Hlatt,
Seattle: Mrs. D. A. Gove, Seattle; Miss L.
X. v iranu. semiie; v . xv. iiuuou.., .
Veil: R. R. Hamilton and wife. Salem; R. I
M Tllbert. Eugene; C. Jones. Goldfleld; O. I
Axtell. Monro ;Camp Smith, Pdlnevllle; A.
n Ijinr Knnknne: Andrew Smith. Oor- 1
vallls; George Williams, Bay City; Andrew
Williams, Bay City; J. A. Rowell. Schaller:
T. E. Rowell, Schaller; R. D. Riley. Ta
coma; J. A. Burke, Tacoma; L. E. Wtlks,
Tacoma; J. A; Johnston. Astoria; Jane Har
rington. Astoria; T. Ennis, Astoria; A. E.
Bell. Salem: John Bell. Salem.
The Imperial Frank Davenport. Hood
River; A. Susheimer. Portland; F. O. Miller,
Portland; Phil S. Bates, city: J. L. Plant,
city; H. G. Van Dusen, Astoria; C H. Car
ter. Pendleton; A. Weston and wife, Pen
dleton; J. F. Westenhouse, Oil City. Pa.:
Mrs. J. F. Westlnghouse. Oil City, Pa.: Miss
Florence Westlnghouse, Oil City, Pa,; Miss
Laura Westlnghouse. Oil City. Pa.; Al W.
Elburn, Oil City. Pa.: E. L. Payne, Gates,
Or.; F. W. Genott, Belllngham; H. Tuller,
Seattle; Andy Cox, Seattle; Mrs. John Clerf,
Ellensburg; Dr. J. C. McCauley. Ellensburg;
J. S. McLeod. Pendleton; James Johns.
Pendleton: James W. Dunlop. Chicago; D.
S. O. Callaghan. Chicago; J. S. Plant, Chi
cago; C L. Robertson, Winchester: J. S.
Call. Trouldall; A. G. Henderson, Walla
Walla: C. A. Davis, Denver; H. W. Butler,
city; W. M. Glbles. Prairie City: Mrs. E. D.
Stelnramp. Granite; Mrs. E. C. Lindsay.
Island Cltv: H. W. Ireland. Portland; E.
Muriset, Victoria; Mrs. A. J. Ahole, Gold
endale; J. W. Hyde, Philomath: C. Elliott.
Detroit: W. A, Teutsch. Portland; C. G.
ButtB, Duluth; B. N. Horner, Duluth: E.
E. Wright. Walla Walla: B. C. Dunbar.
Seattle: Martin Foard, Astoria; W. E.
Gunn and wife, MeMlnnville; D. M. Miller,
LaMoine. Cal.; G. W. Waterbury, city.
The Kt. Charles J. P. Nampln, J. W.
Gana, South Bend; M. F. Ross and wife,
Chinook; Mrs. Matthews, Houlton: J. Tep
pery and wife, Castle Rock: C. Keyes; A.
Dickerson. Salem; W. H. Patton, Dufur; J.
Weeks, Kalama; J. W. Ross, Latourell; F.
M. Foster and wife, city: H. Austin. S.
Beebe, R. Helmken. C. Fisher, Woodburn;
J. H. Dorsey, Alsea; W. D. Stillwcll, Tilla
mook; J. M. McKenna, J. C. McKenna, Falls
City; B. Wellwood, Falls City; E. P. Peck.
Kelso: A. S. Patton. Frances; L. Culbertson.
SUets; C. P. Danielson. Medford; G. Stev
ens: C. S. Wells, E. P. Wells, Tillamook;
C. Hartzoll. Kelso; J. Plater. P. J. Corn
stock, Dundee; H. Johnson; R. G. McKay,
Falls City; D. Stayes, Dundee: N. O. Mitch
ell, ctty: J. C. Brown; J. G. Preble and
wife. Altoona; F. O'Connor, Drain; Hugh
Worley. city; J. Orrlnger, Holly; G. Sher
rlck. The Dalles; Mrs. A. Parcher, Rainier:
F. Griffith, C. Griffith. Cora Griffith. Long
Beach; T. M. Welsh. Manor; J. Conklln, Sa
lem: T. F. Ferguson. Salem; O. O. Smith,
Larayette: W. I. Barnes and wife; W. M.
Powell. Salem: C. R. Wells. E. P. Wells,
Tillamook; A. O. Jackson, Goble; C. Peter-B. Street, Woodburn; C. W. Hardy, Mo
son. Jf. McKenzie, J. Johnson. H. Wooley.la.lla; J. H. Dorsey, Alsea.
J. Smith, city; Margaret Griffiths; Carrie
Smith. Elgin; W. M. Murphy, city; D. E. Hotel Donnelly, Tacoma. Wash.
Brooks. Goldendale; G. Gervls, Gaston; E. European plan. Rates, 1i cents to t2.50
West. Astoria: C. H. Keyes. Centralla; A.per day. Free 'bus.
Ia the joy of the household, for without
. it no happiness can be complete. How
sweet the picture of mother and babe,
angels smile at and commend the
thoughts and aspirations of the mother
bending oyer the cradle. The ordeal through
which the expectant mother must pass, how
ever, is so fall pf danger and suffering that
she looks forward to the hour when she shall
feel the exquisite thrill of motherhood with indescribable dread and
fear. Every woman should know that the danger, pain and horror
of child-birth can be entirely avoided by the use of Mother's Friend,
a scientific liniment for external use only, which toughens and renders
pliable all tbe parts, ana
assists nature in its sublime
work. By its aid thousands
of women have passed this
great crisis in perfect safety
and without pain. Sold at $1.00 per
bottle by druetrists. Our book of priceless
value to all women sent free. Address Wt3 ifl Iff3 '
mRADFIBLD REGULATOR OO. Atlanfm. Urn. m El fcaSMfci
DO IT IN O W !
Take advantage of the
COLONIST RATES TO OREGON
And the Pacific Northwest over the Union Pacific, Oregon Short Line, Oregon
Railroad & Navigation Co., and Southern Pacific, from all Darts of the East.
DAILY during March and April.
YOU CAN PREPAY
For tickets, if yougdesire to bring friends, relatives, employes or others from
the East, by depositing the cost with any agent of the 0. R. & N. or S. P.
Co., with name and address, and ticket wiil be promptly furnished in the East.
A Rare Opportunity to Promote the Industrial
Growth of the Northwest
RATES FROM PRINCIPAL EASTERN CITIES.
A B . A . B
Chieatro at.10.KO 9.13.O0 Buffalo 4!.W S42.K4I
St. 1-oo.f 27.R0 SO.OO New York 47JM CO.OO
Kansas City 22.."0 35.O0 Boston 47.40 . 4B.90
Omaha 23..-.0 2S.0O Philadelphia 47.2S 49.7S
St. Paul 22.50 25.00 1 Wnshinston 47.25 48.25
A Rates aDDlv to a.11 main nnrl limni-ii lino rjoints. HuntinKton to Spokane,
Inclusive. B Rates applv to Portland, Astoria and Puget Sound points; also
Southern Faclfio main and branch lino points north of and Including: Ashland.
Oregon.
For complete Information, inquire of
WM. McMlKRAV, General Passenser Accent,
Oirea-nn Railroad & Navigation Co.
C. W. Sting-er, City Ticket Agt., 3d and Wasnington.
'THE HOUSE OF TONE"
Portland's Newest Cloak
and Suit House -
SB!!
IE have these distinctive tailored jackets
that set off the iigure so superbly in tan
coverts as well as black broadcloth. They
are exquisitely finished, and give the
wearer a chic, r renchy appearance not at
tained by any other fitted jacket, ft. 1 A
A rare opportunity at our price $20 down to ty
J If you prefer one of the jaunty little box coats that
are so becoming and so convenient in light colors
checks, plaids, stripes ; some with contrasting velvet
collars we can fit you out beautifully prices $6 to $16
CJ We also have a splendid line of silk coats in both
Etons and J-lengths; in short, fpr Spring jackets that
are the supreme expression of style and perfect tailoring.
392 WASHINGTON STREET
A