THE 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.