Morning Oregonian. (Portland, Or.) 1861-1937, January 08, 1908, Image 3

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Morning Oregonian., January 08, 1908, Page 3, Image 3

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Newspaper Page TextTHE 3I0RNIXG OREGOXIAN, WEDNESDAY, JANUARY 8, 1908. 3 FISH CONFIDENT OF WINNING FIGHT Scours Europe for Proxies and Says He Gets 90 Per Cent. POSITION IS STRONGER Since Last Spring Has Been Very busy Gives . Figures Showing Dispo.sitimi ot Total Stock to Be Voted at Meeting. NEW YORK, Jhii. 7. .Special.) Discusslnar the situation in the fight for the control of Illinois Central, Btuyveaant Fish, ex-president of the road, said: "I am much gratified over .the re sults attained by Winthrop E. Scarritt on his Europran canvass. Although the field has been thoroughly covered for the Harriman forces by Alexander 5. Hackstaff and Donald Rose, Mr. ticarrltt succeeded in obtaining the voting power of fully 90 per cent of all the Illinois Central stock held in Great Britain, Ireland, France and Holland. "I am more confident than ever. of winning my tight. There are 950,400 glares of Illinois Central stock out Flanding. No more than 75 per cent of this amount has ever been repre sented at any previous meeting, but assuming because of -e extreme in terest centered in the affairs of the company at this time, that 90 per cent of the total stock will be voted, the amount out of which a. majority is necessary is 855,360. "Of this number, 2S1.231 shares, or about one-third are owned by the Union Pacific and the railroad securi ties company ;ind are tied up by in junction. Tims 574,129 shares remain to be divided between Mr. Harriman and myself. Last October I had proxies representing upward of 30 per cent of the total outstanding stock of. the. Illi nois Central. This amounts to at least 285,120 or 49.7 per cent of the 574,129. Since that time my position has been greatly strengthened." DEXIES THE KECEIVER STORY Chicago Grent "Western Will Pay Off Gold Bonds. ST. PAUL, Jan. 7. Rumors that a re ceiver was about to be asked for the Chi cago Great Western Railroad were not only denied in St. Paul but a counter rumor coming from sources practically official -was in circulation this afternoon that President A. B. Stlckney has made arrangements in England for payment of the $3,342,545 5 per cent gold notes that are due in March. President Stlckney arrived in London last Friday. When S. C. Stlckney, vice president and general manager of the road, was asked today concerning the rumor that arrangements concerning the gold notes had been made, he said: 'The rumor Is probably correct." He authorized a denial of the receiver ship story. ARGCE OVER GIVING REBATES Great Northern Case Before the Supreme Court. WASHINGTON, Jan. 7. The Supreme Court today heard arguments in the Gov ernment criminal prosecution of the' Great Northern Railway Company on the charge . of violating the Klkins law by granting rebates on which the company was fined $l.".00O. The company was rep resented by William R. Biarg, of St. Paul, and the Government by Attorney-General Bonaparte. The defense proceeds on the theory that the lirst section of the Elkins law, im posing a tine for discriminations in the shape of rebates, was repealed by the Hepburn act. The brief of the Standard Otl Company, which that company was given leave to tile In this case, was in tended to support that view. THETIS FOR RESCUE BOAT Kevehue Cutter Will Be Stationed Off Cape Flattery. SEATTM3, Wash., Jan. 7. (Special.) The Chamber of Commerce 'today received word from United States Senator a H. Plies that the revenue oufter Thetis, now stationed at Port Townsend, will be or dered to Xcah Bay as a permanent sta tion until the new seagoing tug now un der construction for the Government for life-saving service at Cape Flattery Is completed. The Chamber of Commerce has for some time been agitating the ne cessity of securing a vessel which will, he at hand for rescue purposes in case of disaster at Cape Flattery or there abouts. The charter of a seagoing tug was sug gested, but proved impracticable. The Thetis has made a number of trips to the Arctic and recency rescued the ship wrecked crew of the American bark John Currier from Nelson's lagoon. Captain A. T. Henderson is the commanding of ficer of the cutter. - GEER LAYS DOUX' Tim PKNCIL Quits Tribune to Begin Campaign for Congressional Nomination. PENPLKTON, Or-, Jan. 7. (Special.) In this morning's issue of the Tribune Kditor T. T. Gcer announces his retire ment from the active editorial manage ment of the paper. Ho is to be succeeded by W. F. Onion, who for the past month has been acting as business manager and who now assumes full control as editor and publisher. The announcement says "Geer retires from active duty in order to place his personal affairs and business interests in such shape as to permit of his conduct ing his campaign for Congressman from the second district, to which he will later devote his entire time.' they were entertained at a smoker given by the local labor organizations. ' j WRONG USE OF FOOD FISHES Labor Convention Opposes Their Manufacture into Fertilizers. ASTORIA. Or., Jan. ".(Special.) To day's session of the convention of the Oregon State Federation of Labor, was consumed principally in the introduction of resolutions and referring them to the various committees. Resolutions were adopted, however, condemning the use of food fishes for the manufacture of ferti lizers and declaring the sense of the con vention that tiie .Columbia River fisheries are not properly protected. This after noon the delegates were taken for a trio about the harbor, and this evening IULLMAN WELCOMES BRYAN' Students Extend Hearty Reception to Returning: President. PULLMAN. Wash., Jan. 7. (Special.) When . President E. A. Bryan arrived home this evening" from a three months tour of Eoirope, he was welcomed by the entire student body of the Washington State College The-students were drawn up in two long, lines through which the president had to pass to Ms carriage, and as he stepped from the train the col lege band of 40 pieces played his favorite march. To the tune of the band, the enthusiastic students unhitched the horses and attaching ropes drew the car riage to the president's home. The scene had al! tne' appearance of the home coming of a victorious football team. Caution in Granting: Licenses. ASTORIA. Or.. Jan. 7. (Special.) The City Council at its regular meeting last evening accepted the resignation of Dr. F. V. Mohn as City Physician and ap pointed Dr. Clara Reams to fill the va cancy. Dr. H. L. Henderson was elected as president of the Council, me mem bers of the health and police committees announced that in the future when appli cations for renewals of liquor licenses are submitted to them, they will call upon the Police Department for a report as to whether or not the saloon in question is orderly conducted and in instances where a saloon is shown kfter an investi gation to be disreputable, no renewal will be recommended. COMES SAFELY INTO PORT STEAMER MOUNT ROYAL DE CAYED BY STORMS. Then Boilers Break Down and She Returns to Queenstown All on Board Well.' . QUEE.NSTOWN, Jan. 7. The long over due Canadian Pacific steamer Mount Royal steamed slowly Into Queenstown today, and the news of her safety was received with gladness in shipping cir cles. She had been last reported off the Lizard, December 10, and watch was be ing kept for her on both sides of the At lantic, and as far south as Bermuda. She left Antwerp December 7 for St. Johns. N. B. She had on board 300 Hungarian emigrants and a crew of about 100 men She was definitely sighted off Old Head of Kinsale, 16 miles west of this port, early today. She was then proceedinc slowly under her own steam, and sig naled that she was coming in' here. She declined the help of a tug sent out to assist her, and came in alone. Trouble with her boilers was the reason the Mount Royal had put back. She is at best a slow boat, and shortly after leav ing the British coast she encountered a series of violent gales. She battled with the heavy weather for a fortnight, until Christmas eve, when serious trouble with her boilers developed. The steamer was then in longitude 24.50 west and latitude 43 north. The engine-room staff ultimate ly got up steam, but in view of the weather the captain made for the Irish coast. Passengers and crew are well. The Mount Royal officers -escribed the weather off Luzard as the worst experi enced on the Atlantic for many years. An awful hurricane raged unceasingly for days, .making the conditions fearful for all on board. Fortunately the steam er had a huge shore of extra provisions and everything possible was done J -r the passengers, who were compelled to spend a memorable Christmas on the Atlantic No one could be allowed on -deck, but all were assured that the vessel was per fectly seaworthy. There was much disappointment when it became known that the vessel was put ting back to Queenstown, but al! co operated to make the best of an unfortu nate situation and despite the terrible experience "there was only one case of serious illness, that of a baby, whiuh died on reaching Queenstown. HAVE PLENTY OF MONEY Petition to Have Standard Oil Bond Increased. ' CHICAGO, Jan. 7. District Attorney Edward M. Symes filed a petition to day in the United States Court of Ap peals, declaring that the Standard Oil Company of Indiana has assets amount ing to more than $27,000,000, and ask ing for an Increase in the supersedeas bonds of that corporation filed on its appeal from the $29,240,000 fine im posed by District Judge Landis. The Government renewed its original plea that the bond of the oil company, pending disposal of th appeal, should be the same in amount as the fine. It was originally fixed at a total of $6, 000,000, on statements by attorneys for the defense that the property of the company at Whiting, Jnd., would be worth but $2,500,000 to $3,000,000 if sold at auction. The other holdings of the company were alleged to be worth, on the same basis., little more than $3, 000.000 to $4,000,000. The Government now charges that the actual value of the company's property subject to ex ecution is largely in excess of $2,000,000 and tne profits ot the companj for the three years embraced in th indict ments against it were $23,067,126, and that the profits of the company for 1906 alone the year in which the indict ments were returned were $10,516,082. WOMAN'S TRIAL DELAYED Difficulty Encountered in Securing Jury in Murder Case. R1TZVILLE, Wash., Jan. 7. (Spe cial.) The trial of Gertie Griffin, charged with murder of F. Glllispie, at I.ind. Wash., adjourned this afternoon, the panel being exhausted, but the Sheriff will have jurors on hand to morrow morning.. Jurors already drawn number 165. The state has ex ercised only three of its six peremp tory 'challenges, and the defense only four, the former having six and the latter twelve. 'There are 16 witnesses, one of whom will have traveled 2500 miles when he gets back home, and one S35 miles. At 10 cents a mile this means a heavy cost to the county. Three Years for "Forgery. ECGEXE, Or.,. '.Fan. 7. (Special.) Robert Dillon, guilty of forging, a check and passing It on Roberts Bros.' store, .was today sentenced by Judge Harris to three years in the peniten tiary. H. Armstrong and W. Haines, boys who ran away with two horses from Komp's livery stable at Junction, pleaded guilty and were given an inde terminate sentence of from one to five years. Newbury Out lor orfice; SALEM, Or.. Jan. 7, (Special.) Gus Newbury, of Jacksonville, has filed notice of candidacy for the Republican nom ination for District Attorney in the First District, composed of Josephine and Jack son Counties. Veilings Reduced Black, plain and dotted Tuxedo Veiling, val ues to 7oc, special at low price, a yard ... 1 5 93.00 embroidered Chiffon :ia for only 98 $1.25 plain hem Chiffon Veils, special at 85 $3.25 plain hem Chiffon Veils, special. 82.45 Established 1850-FIFTY-SEVEN YEARS IN BUSINESS-Established 1850 Good Merchandise Only Quality Considered, Our Prices Are Always the Lowest Knit Underwear Sale B0c gray fleeced Union Suits, special at. .39 45c fleeced X rmim and Panto, peclal at. 25 50c fleeced Vests and Pants, special at 33 63c cotton Vests and Pants, spe.- at only 39. 7tic Merino Vratn and Pants, special. at 47 Fifty-Seventh Annual January Clearance Sale "GOODS REDUCED IN EVERY DEPARTMENT" Clearance Sales of Suits, Coats, Waists, Skirts, Petticoats, Millinery, Furs, Neckwear, Veilings 85 Long Coats Vals to $30 S13oOO 65 Women's Long Coats of fine quality broadcloth ; in black, white, navy, red and brown ; all lined with satin and trimmed with velvet and braid. These plain, rich effects are always stylish, and there are colors suitable for street or evening wear. The values are superb both on ac count of the quality and the lowness of the price. Coats sold regularly up to $30.00 on sale for 13.35 French Undermuslins Much Reduced A thorough clearance of our entire stock of French Undermus lins is arranged for this week of the great January Sale. All are fine, beautifully hand-made garments, in distinctive and dainty designs. In .order to' effect an entire clearance to make room for new importations, we have marked them at prices that will sur pass any effort ever made at an underwear clearance sale. Prices are the lowest of the year. It is needless to tell you that all are faultlessly made with true French exactness that the laces are fine and full and the embroideries infinitely dainty. All are hand-embroidered. The Clearance Sale prices are: CHEMISE, 98c $1.22, $1.35, $1.49, $1.59, $2.39 Up to $10 Corset Covers, $1.12, $1.65, $2.15, $3.45 to $8.65 DRAWERS, $1.25, $2.00, $2.39, $3.25, $4.00 to $5.40 SKIRTS, $4.50, $6.00, $8.00 to $29.50 GOWNS, $4.00, $5.85, $7.20, $9.0Q to $14.40 ITALIAN SILK VESTS, $2.55, $3.25, $3.85 to $4.25 - -4 . Clearance Sales of Dress Goods, Silks, Velvets, Wash Fabrics, Domestics, Linens, Towels, Etc, sooo Yards Plain and Fancy Silks grg of "Cheney" Foulards $1.25, $1.35 Values, 89c 5000 yards of Plain and Fancy Silks, in checks, plaids, stripes . and figures, for waists and dresses.. Our own exquisite, patterns, values to $1.35 yard. Best given in .any years at. 69c 2500 yards of the genuine famous Cheney" Foulard Silks, in polka dots, figured and scroll effects, in all the wanted colorings for Spring. Best $1.25 values at.-. . 6Sc Embroideries, Vals. to $8 at $1.98 Vals to $1.75 at 43c Yd Vals to 75c at 23c Yd 8oo yards Swiss and Nainsook Allover Embroideries, French and English eyelet effects, 24 and 27 inches wide, regular $4.00 to g, QO J$6.oo values at........ . 4I.7Q 5000 yards Swiss and Nainsook Corset . Cover Embroideries, 18 inches 23c wide; also swiss and nainsook edges, insertions and galloons, 1 to 12 inches wide. Regular 50c and 75c values. 6000 yards Swiss and Nainsook Edges and Insertions, French and English effects, 3 to 10 inches wide, values to $1.75 yard, r on sale at - TC4jC Clearance Sales of Jewelry Toilet Articles, Leather Goods, Pictures, Stationery, Calendars, Etc. $4.00 Flannelette Kimonos $2.78 $2.00 Flannelette Kimonos $1.45 Women's Lonf Kimonos of fancy figured flannelette, extra quality; all newest styles; .loose, fitted and empire effects; ( blue, pink, red, tan and gray. Values 7t to $4.00, reduced to , a. j Short Kimonos, made of good quality flannelette; loose, fitted and yoke effects; blue, tan, navy, cream . P ,AS pink; values to $2.00, sale price. ,. . SX.tcO Fancy Blanket Bath Robes or Lounging "Robes, ' in cadet, gar net, light gray and lavender Values to XS5.L Q. $6.50, on sale 2000 YDS. WHITE & OTHER LACES Reg. Vals. $2.75 to $4.50, $1.95. Yd. $1.95 2000 yards white, cream and ecru Net Laces. "Venise and Baby Irish Allovers. in exquisite and beautiful patterns, values of $2.o to $4.o0 yard on sale-. White, cream and ecru net, Venise, baby Irish, an tinne. liinv arid filnt Edfres. Insertions. Annlioties. Oal- Inrtnc all hi(rlilns 1 tn ft iiiMmc wio necnrtfiil ?ilSS as follows : ' Values tn 4Sc for 19c yd. Valurnkto S.'c for 38c yd. Value, to 81.25 on Sale at 59c yd. . Value to $4.50 for 1.8 yd. Value, to 3 for 8c yd. Clearance Sales of Laces, Embroideries, Gloves, Hosiery, Pyrography, Art Needlework, Kimonos BILL FOR CURRENCY Continued from First Page ) - approval, any -such association shall deposit with the Treasurer or any Assistant Treas urer of the United states such of the bonds described in section 2 of this act as shall be approved in character and amount by the Treasurer of the United States and the Secretary -f the . Treasury, it shall be en titled to receive, upon the order of the Controller of the Currency, circulating notes in blank, registered and countersigned as provided by law, equal in amount to- 73 per cent of the market value, as fixed by the Treasurer of the United States, of the bonds so deposited. such additional circulating notes to be used, held and treated In the same way as circulating notes of National banking associations heretofore issued and secured by a deposit of United States bonds, and shgall be subject to all the provisions of law affecting such notes; provided, that the amount of such additional circulating notes delivered at any time, to any association shall not In any case exceed the limit fixed for such issue by the Controller of the Cur rency; and provided further, that the total amount of circulating notes , outstanding Of any National banking association secured by United States bonds or otherwise shall not at any time exceed the amount of Its un impaired capital and surplus; and provided further that there shall not be outstanding at any time circulating notes Issued under the provisions of this act to an amount of more than $2o),O0O.OOO; and provided fur ther, that all acts and orders of the Con troller of the Currency and of the Treas urer of the United States, authorized by this section shall havs.the approval of the Sec retary of the Treasury. State and City Bonds as Security. Section 2- , That the Treasurer of the United States, with the approval of the Sec retary pf the Treasury, may accept .as se curity for the additional circulating notes provided for in the preceding section, bonds or other Interest-bearing -obligations of any state of the United States or any legally authorized bonds issued for municipal pur poses by any city or county in the United States' which has been In existence as a city or county for a period of 15 years and which for a period of ten years previous to such deposits has aot defaulted In the pay ment of any part of either principal or in terest of any funded debt authorized to. be contracted by it and which has at such date more than 20,000 Inhabitants as estab lished by the last, census and whose net In debtedness does not exceed 10 per centum of the valuation of the taxable property therein, to be ascertained by the last preced ing valuation of property for the assessment of taxes; or the first mortgage bonds of any railroad company, not including street rail way bonds, which has paid a dividend of not less than 4 per centum per annum regu larly and continuously on its entire capital stock for a period of not less than five years previous to the deposit of the bonds. The Treasurer of the United States, with the approval of the Secretary of the Treasury, may accept for the purpose .of this act, se curities herein enumerated of such propor tions as he may .from time to time de termine and he may at any time require the deposit " of additional securities or require any association to change the character of the security already on deposit. - Subject to Currency Laws. Section 3. ' That all bonds deposited to se cure circulating notes issued in accordance with the terms of this act shall be trans ferred to the Treasury of the United States in trust for the association depositing them, with a memorandum to that effect attached to or written or printed on each bond and signed by the cashier or some other officer of the association making the deposit. A re ceipt shall be given to the association by the Controller of the Currency or by a clerk authorized by him for that purpose stating that such bond is held In trust for the as sociation on .whose behalf the transfer is made and as security for the redemption and payment of any circulating notes that have been or may be delivered to such associa tion. No assignment or transfer of any such bond oy the Treasurer shall be deemed valid unless countersigned by the Controller of thc.Currency and the provisions of sections 5163, 0164. 5165. 5166 and 5167 of the Revised- Statutes respecting. United- States bonds deposited to secure circulating notes shall, except as herein modified, be applica ble to- all bonds deposited under the terms of this act. Special Tax on Notes. The remaining - portions of the bill consist of additions to the existing: law. These additions provide for a tax on the average amount of such notes of a bank's circulation as are based upon the deposits of bonds other than bonde of the United States, provision being made tn this section for a tax on notes secured by Panama Canal bonds amounting; to one-fourth of 1 per cent each half year on notes secured by 2 per cent bonds. Associations having on deposit bonds bearing: interest at a higher rate than 2 per centum per an num are required to pay a tax of one half of 1 per cent each half year on notes thus secured. A monthly tax of one-half of 1 per cent is imposed upon the average amount' of notes issued on bonds other than bonds. f - the United States, and monthly1 returns "'under oath are re quired of an association to chow, the average monthly amount of notes so secured in circulation. " Exempting United States bonds called foe redemption by the Secretary of the Treasury, It is permitted by the bill that National banking associations may withdraw their bonds heJd for circula tion security by the deposit of lawful money to a proportionate amount. Provision is made for the -engraving of suitable notes in convenient denomi nations. These note, are to state upon their face that they will be redeemed upon presentation at the Treasury De partment, and they are required also to express upon their face the promise: of the association receiving them to pay, upon demand. Circulating .notes in blank to a certain amount may, upon request, be prepared by the Govern ment and placed for an association In the Subtreasury and be held for that association subject to the order of the Controller of the Currency . . A section of -e bill provides that "circulating notes of a National bank ing association, when presented to the Treasury for redemption . as provided in. section 3 of the act approved June 20 1874, shall be redeemed In lawful money of the United States. The bill also requires: "That National banking associations located outside of reserve or central reserve cities, which are not required by law to keep a reserve equal to 15 per centum of their deposit liabilities shall hereafter hold at all times at least, two-thirds of such reserve in lawful money," PORTLAND INSTITUTIONS FOL LOW USUAL CUSTOM. Profits of Stockholders Not Affected by Financial Stringency New York on Gold Basis. Portland banks have stood the financial storms of the past three months so well that each of' them paid Us quarterly divi dends January 1. Most 0f the banks dis tribute their profits to stocknoiders every three months,' January 1 ending the last quarter of the year, and some make an annual distribution of the past year's earnings at the beginning of the new year. Stockholders in Portland financial institutions were not disappointed the first of the present month, for all the banks announced the usual dividend. This is considered a splendid showing, In view of the troublous times of the past few months, when local institutions could neither call in their loans nor withdraw' their deposits In Eastern institutions.- Heavy premiums have been paid for the gold brought here from New York and from London to carry the busi ness interests ,of the city through the time of stress. Heavy though these out lays were, they did not affect the earn ings of the banks seriously. The First National Bank pays the larg est profit to stockholders of any insti tution in the city. The usual quarterly dividend of 7 per cent was declared Jan uary 1. The bank pays 28 per cent to stockholders during the year, and has paid this rate for the past five years. The United States National does not distribute so large ' a part of its earn ings in dllvidends,' but pays 2 per cent every quarter, making eight per cent 'dur ing the year. The usual dividend was declared the first of the. present month. The Portland Trust Company of Oregon gladdened the hearts of its stockholders this year by distributing the usual divi dend which was the same as has been paid for the past ten years. The Canadian Bank of Commerce ends Its year's business on November 30 and distributes its profits at that time. The usual "dividend was declared on Decem ber 1. ' The other banks of the city distributed their quarterly profits as usual, just as if there had been no financial stringency, no high premium fop- currency and no clamor of depositors for their money. All these things show that the hard times scare is not only over, but was magnified many times in the public mind. President Mills, of the First National Bank, has been advised uiat the premium has been taken off of currency In New York. "This means that normal conditions have been restored there' said Mr. Mills, "and not only there, but through out the country, for whatever New York does in the financial world, the other big cities adopt as a matter of course. WEDDING INVITATIONS VISITING CARDS, . AND MONOGRAM STATIONERY. W. G. SMITH & CO. - Washington Building, Fourth and Washington Streets, COFFEE If you don't like Shil ling's Best, tell your grocer; we shall hear of it. Tour irocar rturn, yotsr money It m font Ilk. Schllllnfa Bmit w. par hi a.