THE MORXISTG- OKEUOAIAJV, SATCTKDAY, NOVEMBER 9, 1907.
11
OFFICERS OF BUNK
WILL BE ARRESTED
District Attorney to Proceed
Against Them on Com
plaint of Depositor.
STEEL MAY BE PROSECUTED
State Treasurer Violated Law In De
positing School Funds Without
Security-J-Says He Will Not Re
sign Holidays Continued.
Developments yestehday In tha affairs
of the Title Guarantee & Trust Company
were as follows:
District Attorney Manning says he will
cause the arrest, of officers of the bank
today on complaint of C. F. Ehman, who
deposited $1330 the day before the bank
closed. Ehman agrees to swear to com
plaint charging the bank officers with
having accepted deposits when they knew
the bank to be insolvent, contrary to latv.
District Attorney Manning, acting in
capacity of grand Jury, yesterday ex
amined J. Thorbum Ross, president of
the bank, who testified to the facts as
already published, and said he considered
the bank Bolvent up to the day of closing.
He st;ll considers the assets, he said, suf
ficient, under normal conditions, to pay
obligations.
State Treasurer Steel's violation of law
In depositing $300,000 school funds without
security is. considered by District Attor
ney Manning, of Multnomah, and District
Attorney McNary, of Marion, as basis
for criminal prosecution.
Opinion that Steel should resign is hold
In numerous quarters and Is shared by
Governor Chamberlain, but ieel says he
will not resign. Resignation would enable
the state to sue bondsmen for indemnity.
Steel declares he deposited school funds
believing bank was solvent and- that the
universal opinion at that time was that
the bank was safe.
Governor Chamberlain will continue hol
idays indefinitely, and probably will issue
one proclamation for all of next week.
Cash of bank ran so low that it was in
sufficient to make good the trust funds
after tne closing and the bank drew on
deposits on other cities to make good the
deficiency.
Trust funds amount to $S0,000. of which
JRO.000 has been on deposit at Ladd &
Tilton's. drawing interest, but It could not
be- learned yesterday where the interest
went or what was the rate.
These trust funds yesterday were trans
fercd by Receiver Hill to First National
Bank.
Receiver Hill says he docs not expect
to resign, and that he will conduct the
bank's affairs' without favor and for the
best Interests of the depositors. He de
clines to predict -what percentage the bank
will pay out, and when asked If the per
centage will reach 40 cents on the dollar
said it would go considerably higher than
that. S
First steps In the Investigation of the
wrecked bank by District Attorney Man
ning were made by that official yester
day afternoon when, sitting as grand
Jury, he examined the president of the
fallen Institution, J." Thornburn Ross. On
the preceding day Mr. Manning sum
moned Mr. Ross and V. M. Ladd, of the
Ladd & Tilton bank, but did not examine
them at that time.
Today Mr. Manning says he expects to
Issue warrants for the arrest of the offi
cers of the bank, Mr. Ross; George H.
Hill, vice-president; T. T. Burkhart,
treasurer; John El Altchison, secretary,
and Frank M. Warren, the fifth director.
The complaint will be sworn to by C. F.
Ehman. of 34 East Third street, a real
estate dealer, who deposited 11280 on the
day before the closing for himself and CSO
for his brother, Godfrey Ehman. C. F.
Ehman promised to be at Mr. Manning's
office this morning at 9 o'clock.
Mr. Ross insisted that he considered the
bank solvent up to the time of the clos
ing. October 29. He said that Mr. Ladd
paid cash for his 755 shares of the 2500 of
the Title Guarantee & Trust Company,
except about $10,009. in lieu of a dividend
on the Real Estate Title & Trust Com
pany's stock. He testified that the debt
of the Title Guarantee & Trust Com
pany to Ladd & Tilton, now $607,000, was
once 5750.000. This debt, most of the time
paid 8 per cent but now pays 6 per cent.
This interest was paid monthly and
amounted to as much as $4000 per month
at one time.
Sudd's Connection 'With Concern.
Mr. Ladd was president of the Title
Guarantee & Trust Company up to July,
and a director up to July, 1907. He
resigned as a director because hefore the
next annual election of the company the
banking law would come Into operation
and he considered It not proper for him
to be a director In a company to which
his bank had loaned such big sums of
money. In addition to the $tV7.000 now
owing to Ladd & Tilton, the Title Guar
antee & Trust Company owes $00,0)10 to
the same bank, and $100,000 to the First
National Bank, these two sums having
been loaned in the last 90 days to tide the
hank over its difficulties.
For the $!O7.O0O debt, Ladd & Tilton
hold as collateral the stock of the Ore
gon Company, which' owns the Marquam
building, listod in the assets of the bank
at $w.000. The building Is mortgaged for
$215,000 to the Vnited States Mortgage &
Trust Company, of New Tork. It thus
appears that the Marquam building Is
Incumbered with a debt of JS22.000, made
up of the mortcage and the debt to
Tdd & Tilton. Mr. Ladd is not a stock
holder in the Oregon Company. He
holds about $4R.ono of the capital stock,
par value, of the Title Guarantee & Trust
Company, the total capitalization being
imooo.
Only a little more than half the capital
stock was subscribed and fully paid for
until recently. About 1100 unsubscribed
shares were then bought at $110 a share
by Mr. Ross' two brothers-in-law. Nathan
Coy and VT. W. Reld. who exchanged
for this stock their stock in the Com
mercial Trust Company, which owned
the Commercial building. This transac
tion gave the Title Guarantee & Trust
Company 51 per cent of the stock of the
Commercial Trust Company. The pre
cise interests of Coy and Reld are a
mystery, since they are not men of moans
and do not live In rortlRnd.
Officers of Oregon Company.
The officers Of the Oregon Company,
which owns the Marquam building, are
John E. Aitchlson, president, also sec
retary of the Title Company, and Clyde
B. Aitchlson, secretary, who Is now a
member of the Oergon Railway Com
mission, appointed by State Treasurer
Steel, and was forleriy an employe of the
Title Guarantee & Trust Company. The
president of the Commercial Trust Com
pany, which owns the Commercial build
ing, is Ij. B. Seeloy. and tha secretary Is
Clyde B. Aitchlson.
The Portland Development Company,
which, together with the Colonial Invest
ment Company, owns the lands at Wil
lamette Heights, was organized for John
8. McMillen. of Seattle and Roche Har
bor, president of the Roche Harbor Lime
Company, for the' purpose of buying the
fairgrounds after the Lewis and Clark
Exposition John F. Shields is the pres
ident. Shields holds the stock In trust
for . the Title Guarantee & Trust Com
pany. He Is also president of the Colon
ial Investment Company, which secured
the Goldsmith-Hill tract and the Blythe
gulch tract at the fairgrounds. The
president of the Oregon Land & Water
Company," which owns the Irrigation
project in Umatilla County In which the
company holds $255,000 worth of bonds and
to which it has loaned $00,000, is John
W. Cook, one of State Treasurer Steel's
bondsmen. The secretary is John E.
Aitchlson.
Mortgage Assigned to Steel.
The Texas-Oregon Timber Company
owns title to 9000 acres of timber land
near Sllverton, on which the Title Guar
antee & Trust Company holds a $428,000
mortgage. This mortgage was assigned to
Treasurer' Steel Just before the failure of
the bank, as security for the state funds
deposited in the bank. The mortgage was
given by the company to M. B. Rankin,
who assigned It to the Title Company as
collateral for $500,000 loans made to Ran
kin. Rankin also gave as collateral a
trust deed to 19.000 acres of timber land
In Benton County, worth, Rankin says,
between. $600,000 and $750,000. The Title
Guarantee & Trust Company assigned this
trust deed to Steel. Both these timber
collaterals will first secure the $150,000 ad
vanced to the Title Guarantee & Trust
Company by Ladd & Tilton and the First
National Bank, and next will secure Steel.
These assignments the creditors of the
Title Guarantee & Trust Company will
seek to have annulled.
The Title Guarantee & TruBt Company
advanced to Lafe Pence In all $220,000
through the Colonial Investment Com
pany, to which Pence stands Indebted.
McMillen was guarantor for the advances
made to Pence, but a dispute arose as to
the extent of McMlllen's guarantee. Mc
Millen got Into a litigation, and It looked
as If his guarantee would not be worth
much to the Title Guarantee & Trust Com
pany, bo Mr. Ross arranged to buy out
McMlllen's Interest In the Portland Devel
opment Company at a cheap price. Ha
paid McMillen $72,000 and assumed the un
paid purchase-price mortgages. Mr. Ross
considered that the increasing value of
the land would Indemnify the Title Guar
antee & Trust Company for the losses
caused by Pence. The lands at Willam
ette Heights are cumbered by mortgages
and other obligations amounting to $250,
000. The Title Guarantee & Trust Com
pany's Investment In Pence, and the lands
amounts to $400,000.
When the Mafqdam Grand Theater was
sold $30,000 was paid to the Oregon Com
pany and a mortgage was given on the
property to Ladd & Tilton for $140,000.
The mortgage on the whole building was
then reduced from $800,000 to $215,000.
The Title Guarantee & Trust Company
has never paid any dividends, and all of
Its. earnings above expenses and interest
went into surplus.
A law passed lit the last session of the
Legislature declares that officers of a
bank, who shall receive any deposit
knowing that such bank is Insolvent,
shall be deemed guilty, of a felony, res
trict Attorney Manning holds this law In
force and says he will use it to prosecute
officers of the wrecked Title Guarantee
& Trust Company, who received deposits
up to the last day of business, though
the cash on hand had dwindled to $9000
and the total deposits were $1,S00,000.
This morning C. F. Ehman, of 34 Bast
Third street, a real estate dealer, who
deposited $1280 for himself on the day
before the bank closed, and $50 for his
brother, Godfrey Ehman, has agreed to
swear to a complaint charging the
bank's officers with criminal violation
of the law. The officers are J. Thor
bum Ross, president; George H. Hill,
vice-president, and now receiver; T. T.
Burkhart, treasurer: John B. Altchison,
secretary, and Frank M. Warren, fifth
director.
Ro3s Before Grand Jury.
Mr. Ross was summoned to appear be
fore District Attorney Manning yester
day, as before a grand Jury. He testl
fed that he believed the bank fully solv
ent up to the close, and thinks it solvent
yet. If the full value of the assets can be
realized.
If criminal proceedings shall be Insti
tuted agtffnst State Treasurer Steel for
breach of the law by his having loaned
school money to the tank without secu
rity, that may not be done at once.
Governor Chamberlain believes that
prosecution would still further disturb
the general banking situation, and that
since Steel can be prosecuted one month
or two months hence, If guilty of break
ing the law, that will suffice.
The Governor says he has not reached
a conclusion as to whether Steel can be
prosecuted. If the school fund deposit
of $300,000 has been impaired, he says
Steel's resignation would enable the
State to bring proceedings at once to col
lect from the surety company and the
bondsmen. Otherwise there can be no
official knowledge at this time of the
loss, since Steel is required to make an
accounting only to his successor. In the
latter part of December, the next quar
terly statement of the State Treasurer Is
due, but It Is not certain that this would
suffice to warrant Instituting suit
against the surety company and the
bondsmen.
Are Examining the Bond.
Chamberlain, Benson and Crawford are
looking into the status of the American
Surety Company and Crawford is making
a special study of the timber land collat
eral, which was assigned by the broken
bank to Steel, as security. This collateral
is held by the First National Bank, for
$150,000 advanced by it and Ladd & Tilton
in the last 90 days, to strengthen the ebb
ing vitality of the wrecked institution.
After that debt, the collateral is security
for the state funds, for Indemnity of
Steel personally. It consists of a $428,000
mortgage on timber land In Marion
County and a trust deed to 19,000 acres of
timber land In Benton County, said to be
worth at least $600,000.
The assignment of this collateral to
Steel, making the state a preferred credi
tor, is pf , questionable validity. Mr.
Crawford is looking to It that the state
Bhall have taken all possible means to
protect Its money. In order thereby to
strengthen the state's hold on the surety
company. '
If Treasurer Stel shall be prosecuted,
the state's case will be based on an "act
of the last Legislature which says:
What the Law Says.
"The removal Jjy the State Treasurer,
or by hlB consent, of such moneys or a
part thereof, out of the vault or safe of
the Treasurer's department, or out of any
legal depository of such moneys, except
for the payment of sums authorized by
law to be paid, or for the purpose of de
positing same, under the provisions of this
act, in banks which shall have qualified
as depositors, shall, constitute a felony
and on conviction thereof, shall subject
the Treasurer to Imprisonment - In the
State Penitentiary for a term not exceed
ing two years or a fine not exceeding $5000
or by both such fine and Imprisonment."
Mr. Steel professes to disbelieve that he
Is liable to prosecution or that he should
resign. He says that, like all other per
sons who seemed to know about the
safety of Portland banks, he believed the
Ross bank secure, and that he certainly
would not have put- money Into the Ross
bank had he known it Insecure. He avers
that he could not keep the school funds
in the state vault because the law limits
him to $100,000 in that place. He declares
his policy "as straight as an arrow" and
his motives, wholly honorable. The plight
of the bank came upon him as a very snd
den surprise. His confidence In its solv
ency is evidenced, he says, by deposits of
members of his family, amounting to $7000.
If the court rules the state not a pre
ferred creditor, he says he did his best
to protect its funds by obtaining assign
ment of the timber-land collateral.
"I certainly have no intention of resign
ing," he added. "Republicans over the
state do not want me to give up the of
fice." Depositors will fight the preferred cred
itors In court, and will seek to make the
state share pro rata with ihem. The de
positors have not come together to make
plans yet, but are expected to organize
soort.
The several departments of the com
pany will resume business next Monday,
says Receiver Hill. He will retain about
ten of the old employes', one of whom is
T. T. Burkhart, treasurer. As evidence of
Mr. Hill's Independence of the old man
agement, his friends remark that Rosa
has not entered the bank since the receiv
ership. ' ;
Receiver Hill yesterday ordesed the
trust funds in Portland, amounting) to $60.
000, out of the Ladd & Tilton bank and
Into the First National. The trustee of
the funds. John F. Shields, surrendered
them without opposition. These funds
have been kept at Ladd & Tilton's. but
the reason 'was not explained yesterday.
Treasurer Burkhart declined to reveal the
interest they drew and to whom It was
paid, but admitted that they drew Inter
est. Trust Funds Csed In Banking.
The trust funds were used by the bank
as bank money, and the cash ran so short
toward the close that there Was not
enough on hand to make them good. in
order to protect the trust funds, the bank
sent checks to San Francisco. Seattle and
several other cities, where It had money
due, for the needed funds. This it did
the day before the receivership and noti
fied the banka. by telegraph of Its action.
Receiver Hill says that the smaller
loans are well secured and that they - .111
pay well. He believes that within the 30
days allowed for reporting the affairs of
the bank to the Federal Court, he will
have accomplished that I work. When
asked for a reply to the criticisms of his
acting as receiver, he said:
"I do not expect to resign, but to give
all persons concerned a square deal. I
shall do my level best to make the most
of the bank's assets for Its creditors."
STATEMENT BY MR. STEEL
TREASURER DEFENDS METHOD
OF DEPOSITING FUNDS.
Says Legal Maximum Amount to Be
Held as Reserve in State Vaults
Had Been Exceeded.
PORTLAND, Nov. 8. (To the Editor.)
In view of the statements appearing In
the press. It Is proper that I should make
known to the public the following facts.
Before making arrangements with the
Title Guarantee & Trust Company to
become a depository of state funds, I
made careful Inquiry In regard to Its
responsibility and became convinced that
It was a sound and solvent Institution. I
still believe that I wa Justified in' this
belief on the facta which were then in
my possession.
For convenience the school funds were
kept separate from other funds. The
school fund was not considered a desir
able deposit by the banks because the
sums deposited and drawn out were often
quite large. For some months past the
loans from this fund by the School Land
Board have not been as large as the re
ceipts, and the balance, therefore, in the
school fund Increased far beyond what I
had expected, thus running up the
balance to the state's credit in the Title
Guarantee & Trust Company to a much
larger sum than I had intended should
be deposited there. Nevertheless I had no
fear of loss; having made my Investiga
tion and satisfied myself that the bank
was In good condition.
It may be said that I had no authority
to deposit the school funds, but I ask
what would anyone occupying my posi
tion have done under similar circum
stances? He would certainly have placed
them in some bank and would not have
locked the money up in the vaults, and
kept it out of circulation. Under the law
$100,000 is a maximum which the treasurer
Is permitted io hold as a reserve, and this
ts, therefore, the maximum amount which
could have been kept in the vaults of
the treasury.
Recognizing the fact that the amount
on deposit with the Title Guarantee. &
Trust Company was larger ttian It should
have been, I notified the bank a - few
days prior to the announcement of the
holidays that it was my intention to
draw upon the bank for the purpose of
reducing the balance I was at Salem
planning for other arrangements with ref
erence to these funds when I was startled
by the Governor's announcement of holi
days at the request of the leading bank
ers of the state. I mention this to show
that I was aiming to get things In better
shape when the financial crisis arrived.
I thereupon came to Portland and notified
tha Title Guarantee & Trust Company
that it must put up additional security in
order to protect the; state. The furnishing
of this security may be considered unjust
to the other depositors, but It Is never
theless true that the law demands that
security shall be furnished by a bank
which has public money on depslt. Of
course, whenever security Is furnished
It must in the event of the failure of the
bank impair the position of the general
creditors.
While my family has funds in this bank
amounting to $7000, which are wholly
unsecured, I felt it was my duty to
ask security on behalf of the state. It
was not my desire to Injure anyone, but
merely to perform my duty as a public
officer. If properly managed, as I be
lieve It will be by the receiver, the assets
should suffice for the payment In full of
all liabilities. Even if I am mistaken
In this I am confident that the state will
not lose any money. G. A. STEEL.
State Treasurer.
AT THEMICAG0,
6 9-71 Third Street.
Today we will sell 500 men's all wool
suits and cravenette overcoats, all sizes,
at $19.85 each, value $30.00 to $40.00. The
Chicago Clothing Co., 69-71 Third st.
Don't forget the golden rule "Home-phone-lt."
Eat Government-inspected meat.
1 1 ' i x- - " t c S
1'- "V :
J George A. Steel, State Treasurer, i
- 7
TWICE US MUCH IS
ALL OTHER BANKS
Title Guarantee & Trust Car-
ries Most of the Funds
of the State.
OTHER DEPOSITS REDUCED
State Treasurer Steel Has Been
Withdrawing Funds From Other
Banks and Placing Them
Here Officials Investigate.
SALEM. Or., Nov. 8. (Special.) There
were no new developments today In the
state treasury tie-up except the disclosure
that the Treasurer had money deposited
in 33 banks and that he had twice as much
in the Title Guarantee & Trust Company
as in all the others combined. This cir
cumstance, in view of the express power
the Treasurer ha9 to Investigate the con
dition of any bank In which he has de
posits, and the further fact that the bank
in which he placed the bulk of his funds is
the only one- that has failed, makes a
very unpleasant showing for the custodian
of the state's funds.
It has been asserted by mert connected
with banking institutions that in the last
few months the Treasurer has reduced
his deposits In other banks and rapidly in
creased the amount deposited In the trust
company bank.
Governor Is Investigating.
In 32 banks there la now deposited ap
proximately $200,000, or about $6000 each.
In the Title Guarantee & Trust Company
bank there was a dopcxt of nearly $400,000.
Governor Chamberlain, Secretary of
State Benson and Attorney-General Craw
ford went to Portland today to ascertain
more definitely. If pbsslble, how the
state's funds and securities stand. They
Intend to take every possible precaution
to guard the state'a Interests.
Mr. Crawford hasrepared a formal de
mand upon the American Surety Com
pany, which is surety on the bond given
by the trust company to secure $100,000 of
the state's deposits. This same company
was surety on the bond of the Oregon
Trust & Savings Company, which failed
a short time ago with $38,000 of the state
funds on deposit. The surety company
paid the state's claim in that case in full
without the least delay. Mr. Steel and
Mr. Crawford hope to secure as prompt
payment on this $100,000 bond.
District Attorney Looking Up Law.
District Attorney McNary has been
looking into the laws governing the han
dling of public fund?, but has not yet
reached a conclusion upon the question
whether the State Treasurer has violated
any criminal statute. There. Is now $63.
000 in cash in the treasury, and thla sum
will be sufficient to pay the salary rolls
at the several institutions for this month
and perhaps next. Claims for supplies
furnished must wait. There will be a few
small sums coming to the treasury from
corporation license taxes, but these pay
ments will be very light compared with
the state expenditures.
COLO FOR VANCOUVER BANK
SHIPMENT ARRIVES BY EX
PRESS ALL, FEAR IS GONE.
More Gold on the Way and Banks
Expect Soon to Be Working
on Regular Basis.
VANCOUVER, Wash., Nov. 8. (Spe
cial.) The local financial stringency is
greatly relieved by recent large ship
ments of gold from the East The
first currency of any amount that has
been received since the flurry struck
the financial market, was received here
today when a Northern Pacific Express
wagon backed up to the front doors of
two. of the local banks and unloaded
$4000 In gold into their vaults. This
shipment puts the Vancouver National
and Commercial banks beyond all em
barrassment for the present time.
More shipments are on the way and
it Is expected by the officers of the
banks that they will be doing business
in the regular way in the course of a
few days. The Citizens' Bank is ex
pecting a large shipment some time
during the week.
The jreople of Vancouver and Clark
County have stood by the local finan
cial institutions loyally, and the bank
ers are fully confident that they can
now weather the storm.
EUGENE HAS CLEARING-HOUSE
Four Banks Unite and Certificates
Are Issued.
EUGENE. Or., Nov. 8. The four Eu
gene bankB have organized a clearing
house association The officers are as
follows: T. G. Hendricks, of the First
National Bank, president; F. W. Os
burn, of the Eugene Loan & Savings
Bank, vice-president, and S. S. Spencer,
of the Merchants Bank, secretary. There
is taik among the leading banks of the
Willamette Valley to organize an associa
tion among themselves, and in that case
the local organization will become inef
fective, the banks here Joining with those
of other cities in the valley.
The clearing-house certificates which
were put in circulation here today by the
Booth-Kelley Lumber Company will be
accepted by all the business men and the
Southern Pacific Railway for freight and
passenger service, the same as currency.
Certificates at Aberdeen.
- ABERDEEN, Wash., Nov. 8. (Spe
cial.) At a meeting of the bankers of
Chehalis County and prominent busi
ness men of the cities of Grays Har
bor a plan of Issuing clearing-house
certificates similar to those Issued in
other cities was adopted. Since the
meeting about every business man and
mill owner on the harbor has signed
an agreement to accept the paper, and
it is expected the Issue will be started
today or Monday. .
Clearing-Houses in Idaho.
CALDWELL, Idaho, Nov. 8. All the
towns . in this part of the state have
taken or are now taking action for the
organization ' of clearing-house as
sociations. Though no embarrassment
has been felt, it was thought beat to
do this In order to protect the busi
ness. Salem Issues Certificates.
SALEM. Or., JJov. 8. Clearing-house
certificates put in their appearance in
SPECIALS AT GEVURTZ
SATURDAY ONLY
A collection of unusual values for this one day.
$15.00 BOOKCASE $8.50
In the quartered. oak finish; five shelves, double doors, with good,
clear glass; an excellent value at the regular $15.00 (PQ Jf
price. Today ." J)O.DU
$3.50 AIRTIGHT' WOOD
HEATERS $1.75 '
Only a few left
heater
A special attractive number: Handsome quartered oak Buffet,
COMFORTS AT ABOUT HALF
$2.75 Values $1.45 $4.00 Values ?2.15
Department on Second Floor.
Special Reduction on Chinaware in the Basement Department.
In the Ladies' Suit Department For today only, the (T A nr
sale of $12.50 Silk Petticoats, all leading colors, at S TOD
LARGEST and BEST FURNITURE HOUSE IN OREGON EXCLU
SIVE AGENTS THE GREAT "ECLIPSE" RANGE AND HEATER
Salem for the first time today and are
being issued by the local banks In ac
cordance with action taken at a ban
quet of the Business Men's League last
night. They are being accepted at par.
Ladd's Name a" Drawing Card.
PORTLAND. Nov. 7. (To the Editor.)
Sir: As touching the failure of the Title
Guarantee & Trust Company I have no
reason to doubt the statement made by
Mr. Ladd that he retired from the presi
dency and the directorate In July, 1906.
Such being the case the Title Guarantee
& Trust Company perpetrated a fraud on
the public issuing deposit books as late
as November 27, 1906, (when I first put
money in there) on the backs of which
can be found the following Information,
which was, as they well knew, a drawing
card :
' " OFFICERS.
Wiliam Ladd President
J. Thorbum Ross Vice-President
T. T. Burkhart Secretary
James E. Aitchlson Asst. Secretary
George H. Hill... Asst. Secretary
DIRECTORS.
"W. 'M. Ladd. J. Thorburn Ross,
T. T. Burkhart, George H.H!11,
Frank M. Warren.
A VICTIM.
Union Men Advocate State Bank
The establishment of a state bank under
state ownership and control to be put into
being under the initiative was favored by
the adoption of a resolution to that effect
by the" Federated Trades in Its regular
meeting last "night. A committee was
appointed to undertake the matter.
HOLD A MAMMOTH RALLY
University Students Knthusiatlc
Over the Big Game.
EUGENT3, Or., Nov. 8. (Special.) To
night was held the largest and most en
thusiastic football rally in the history
of the University. Over 300 rooters
marched 1n the serpentine, led by Yell
Leader Arthur VanDusen, and yelled
themselves hoarse when he gave the cue
with his mammoth megaphone.
The main feature" the big rally took
place on Kincald Field, where tomor
row's battle will occur. Here the fresh
man class had erected a huge bonfire and
In the light of this the ceremonies were
held. Tell Leader VanDusen and. Ms
lusty corps of rooters did some excellent
yelling and Introduced some clever new
song hits. Many brilliant speeches were
made by those most Interested In Ore
gon's welfare on the field tomorrow. The
speakers were: C. N. McArthur. of Port
land, the "Father of Oregon Athletics";
Hon. S. H. Friendly, of Eugene. Regent
of the University; Walter Wlnslow. Ore
gon "06; Ray Goodrich, Oregon '06; Cap
tain Gordon C. Moores. Coach Gordon B.
Frost, Assistant Coach Chase, Trainer
"Bill" Hayward, Eberle Kuykendall.
quarterback on the team: Dr. Leonard,
of the faculty: Olen P. Arnspiger.i right
tackle, who will be out of the game to
morrow; Manager Grover Kestley and
Representative Allen Eaton.
All University supporters are confident
Oregon will defeat O. A. C. by one or
two touchdowns. Every one Is worked
to a high pitch of excitement over the
big game and there are hundreds -of vis
itors In the city expressly to see the
great struggle for supremacy. The Cor
vallls team arrived at 9:25 tonight and
are. In the words of their coach, "Ready
for the game o'f their lives." There is
no O. A. C. money in sight, while over
Dr. Price, the famous food
expert, has produced a product
called
m fusil
VMZAT FLAKE CELERY
which is considered to represent
the highest food production.
Its healthful qualities are unsur
passed. a
For sale by all Grocers
from yesterday's selling, but enough for early-day
patrons; an excellent steel body, and steel
;
$35.00 BUFFET $19.50
with it rench plate mirror and every appoint
ment for all conveniences. Todav
1500 of Oregon money Is waiting for
takers.
. '
WORK ON. MURDER THEORY
Police Find New Evidence in Case
of George Gale.
SEATTLE. Wash., Nov. 8. (Special.)
The police tonight began working on a
theory that George Gale, run over by a
Green Lake car at Fremont early yester
day morning, was murdered. Edgar Var
ney, the last man seen with Gale, is un
der arrest, and a Coroner'B Inquest has
been ordered to Investigate.
The new police theory is that Gale was
murdered and thrown on to the car track.
The first story was that he was crawl
ing on hands and knees o) the track when
the car struck him. Motorman W. J. In
man told that story to the police twice,
but he told Coroner Carroll today that
Gale was lying on the track. Gale had
asked Mrs. C. Murphy, proprietress of the
Dixon Hotel at Fremont, to marry him.
and Mrs. Murphy Is pressing a demand
for an Investigation of the murder theory.
A mysterious woman telephoned to the
Coroner Instructing him to look Into the
case as murder, and the police are prac
tically certain now that Gale could not
have been drinking prior to his death.
Senator Piles Appoints Secretary.
SEATTLE, Wash., Nov. 8. (Special.)
E. Li. Crider. a young Seattle lawyer, has
been appointed - private secretary to
United States Senator Piles, succeeding
EITH'S
ONaUBROR
SHOES Jbr MEN
$322 $4D22 ?522
Many competitors but no equals
Merit makes them stand alone
Preston B. Keith Shoe Co., Makers, Brockton, Mas.
sold b y w. 3. FULLAM
283-28S Morrison Street
when finished for the purpose and properly csred for, hurl defiance at slush, mud, enow,
and enable their wearers to go through water dry-footed. Unexcelled in appearance,
stock, workmanship, finish and wearing quality.
The Illustration shows our Drab Veal Sporting Boot made with the justly famous
Electric or Rock Oak Sole, Genuine Goodyear Welt. Proper foot ventilation is given,
keeping the feet warm, comfortable and preventing "clamminess" or "drawing." Beyond
all question of doubt these are
The Ideal Storm Shoes for all Purposes.
We also make these shoes in first grade quality of Tan Box Calf with two full over
weight Rock Oak soles, Goodyear Welt, silk fitted, and with fancy ribbed leg; or of
Reindeer Calf Viscolized, making this shoe as nearly water-proof as leather can be
made; heavy single or two full Rock Oak soles, with strap and buckle if desired.
WeNnake high cut and standard screw fastened shoes in various leathers and lasts.
No shoes better made No better shoes made. If your dealer cannot supply you, write
n. We'll learn why and advise where yon CAN get them,
F. P. KIRKENDALL & CO., Omaha, Nebraska.
Western Made for Western Trade.
UUiiM Uttiii tlli maim i)U
- lmed
$1.75
$19.50
Thomas Payne whf was recently elected
secretary of the State Commission for
the Alaska-Yukon-Paclflc Exposition.
Crider has- been associated with the law
firms of Shepard & Lyter, E. Heister.
Gule & Piles, and Donworth, Howe &
Farrell. ,
BIGGEST OVERCOAT SALE
In Portland Overcoats, Raincoats,
for Men. ' .
Great overcoat sale today at the Chi
cago. 69-71 Third St., all kinds, shades and
sizes, medium or heavy. $8.85 for men's
$17.50 Priestly cravenettes: $11. So for men's
$22.50 Hack unfinished worsted cravenettei.
Imported new light grey herringbones,
kerseys and Oxfords, $25 and $27.50 values
now $14.85. Fine black unfinished wor
steds, $35.00 values at $19.85. Open to
night until 10:30. The Chicsgo Clothing
Co., 69-71 Third st.
Will Hold Road Meeting.
A road meeting will be held at 2 o'clock
this afternoon, in Damascus, to consider
the question of levying a special tax to
Improve the roads in that district. A
considerable mileage of the roads at and
around Damascus Is being Improved. Tt
is desired to get a rock crusher in hi
district. C. Weedier, who has been
prominent In road matters, says that
there is plenty of good rock for road
work in that neighborhood.
To rnll the doctor "Home-phone-lt.'
mm
(5-.. -V-
Could you survey the en
tire output of the world's shoe
manufacturers, yon will find
nothing superior to Kirlcen
dall's High Top Storm Shoe as
a shoe for rough service.
Kirkendall's Celebrated
il
High Cut Shoes
i
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