THE MORNING OREGONIAN, THURSDAY, JANUARY 30, 1905.
CORTELYOU
OVER THE GOALS
Senators Don't Like Printed
Report on Financial
Crisis.
DEFENSE OF BOND SALES
Secretary Says 1 0 Per Cent of Money
Hoarded Denies He Favored
New York at Kxpense of ..
Other Cities.
WASHINGTON, Jan. 29. The Senate
was entertained today by a series of ani
mated comments on the method adopted
hy Secretary of the Treasury Cortelyou In
placing before the Senate his reply to t..e
resolution calling for notification relative
to the operations of the Treasury Depart
ment in connection, with the financial dis
turbance. The Secretary had had the
introductory part of his reply printed, and
copies of the pamphlet were on the desks
of all Senators, which was declared by
Democratic Senators to be without prece
dent. Culberson inquired of the Vice-President
whether the pamphlet contained all of the
Secretary's communications. The Vice-'
President sajd he had not examined the
report and did not know whether the
pamphlet contained all of the message.
"I don't recall an instance," said Cul
berson, "in which a head of a department
of the Government has answered a Sen
ate resolution in printed form."
.Aldrich remarked that all the repre
sentations of the Secretary of the Treas
ury are made to the Senate in printed
lorm.
Pats on Airs of President.
Mr. Tillman retorted to this suggestion
by declaring:
"The Secretary of the Treasury is as
suming the airs of a President before he
is elected to that office. The President
sends his message in this printed foriri,
but I have never known a Cabinet officer
to assume to do this before."
Carter, of Montana, referred to "con
stant importunities," that had been heard
in the Senate for an immediate answer to
the Senate resolution by the Secretary of
the Treasury.
"Had the Secretary of the Treasury
delayed In making this reply," he added,
"he would have been criticised. Now,
this expeditious method of laying his re
ply before the Senate is made a subject
for criticism. How in the world could
the Secretary of the Treasury have
pleased the Senators from South Caro
lina and from Texas?"
During Carter's remarks, Beveridge In
terrupted, saying:
"I wish to call attention to the fact
that the criticism of the Senator from
South Carolina was directed to the 'airs'
that the Secretary has assumed."
"I want the Secretary to reply in a
more moderate manner," replied Tillman,
"and in the same manner that has char
acterized his predecessors In office. He
should send his report here and let us
.print it if we think fit. The Senator can
not point to a solitary case in which the
printing has been done before."
Carter and Tillman Give and Take.
Carter said he recalled, an instance in
the Senate several years ago in which a
Cabinet officer had been criticized for
sending a document to the Senate in type
written form instead of having it written
. with a pen.
Tillman said there never had been such
unaccountable delay in replying to a
Senate resolution.
"The Secretary," he said, ' nas bten in
New York making speeches and now he
sends this labored report to us."
Carter inquired whether Tillman had
rend the report and being told that he had
not, declared that the Senator could not
tell whether the report was in fact "la
bored" or whether tt had been prepared In
affluent manner and with special skill.
"It may be," he added, "that before the
sun goes down the Senator may agree
with all the Secretary of the Treasury has
to say about this bond Issue."
"I ask him," interrupted Tillman, wav
ing his hand toward Carter, "whether he
undertakes to vindicate the Issue of t.e
Panama bonds."
Will Decide When He Knows.
Carter retorted prompily that the Secre
tary had just sent the information con
cerning that matter to the Senate and he
did not propose to determine that matter
until he had an opportunity to consider
tlie facts.
Tillman declared that the Senator from
Montana was partisan in behalf of tue
Secretary.
"I have not been in any case partisan,"
retorted Carter, then he added amid gen
eral laughter that "all Presidential can
didates would acquit him of 'being parti
san." -
HOW HE CHECKED THE CRISIS
Cortelyou Tells at Bond Sales and
Government Deposits.
WASHINGTON. Jan. 29. In response to
a resolution agreed to by the Senate on
December 12, 17, the Secretary of the
Treasury today transmitted to that body
detailed statements concerning the award
of Panama bonds and 3 per cent certifi
cates, together with recent financial
transactions of the Government, and also
embodying. Information as to the general
state of the Nation's finances during the
closing months of 1907, the period over
which the recent financial panic extended.
Tho report, which is accompanied by
a long letter from Mr. Cortelyou
to the president of the Senate, em
braces a list of depositaries and the
amount of mcr.ey placed on deposit
therein on various dates: a list of other
bnnks with tho amounts of National
deposits, and ttie security held there
for; statements showing the conditfon
of banks on August 22. 1907. and De
cember 3. 1907, and tho amount of
bank notes outstanding at various
periods: lists of banks and individuals
who rocetved Panama Canal bonds and
lists of those who bid for the bonds
without receiving an allotment: and
subscriptions of S per cent certificates
of Indebtedness; data concerning clearing-house
certificates issued during the
panic and a budget of circulars, press
announcements and correspondence relating-
to Government financial transac
tions that took place during the period
mentioned in the resolutions.
Mi. Cortelyou. before analyzing the
crisis and setting forth Ms official ac
tions In regard to the report, gives a
summarv of occurrences tn the United
States financial world from the time he
assumed charge until " the special report
was compiled. He states that business
conditions were becoming unsettled when
be became financial member of the Cab
Inet in March. 1907. Various, stringencies
occurred prior to August, which were
promptly relieved. A plan of weekly de
posits of Government funds In various
banks was begun on August 28. By Oc
tober 14, these deposits had reached a
total of J28.000.000.
Deposits In National Banks.
In October occurred the stirring events
in New York which culminated in the
closing of the Knickerbocker .Trust Com
pany and the decision of the New York
banks to issue clearing-house certificates.
The Treasury transferred to National
banks within a few days the sum of
J35.Oo0.0OO. and transmitted to New-York
within three days about J36.00O.O0O in
small bills. In New York City alone, the
report shows, clearing-house certificates
were Issued in excess of $100,000,000.
By the middle bf November the Treas
ury had met the demand for relief to
the extent that the working balance was
reduced to approximately J5.000.000.
It becoming apparent that no further de
posits could safely be made, banks were
permitted to substitute bonds suitable for
savings bank investments for Govern
ment bonds, which were held as security
against public deposits. Government
bonds were .hus released as additional
bank-note circulation. After the issue
of Panama bonds and one-year Treasury
certificates, the bank-note circulation be
gan to increase until it stood on Decem
ber 31. J890.130.S95, as against $607,118,742
on October 15. On January 18, 1908,. the
issue had reached $695,925,806.
"The announcemtn of the issue of the
new securities by the Treasury," says Mr.
Cortelyou. "marked In some degree the
turning point of the-panic.
jno iurtner steps were considered
necessary, except to continue the deposit
of public moneys for a time where they
were available and early in December it
bcame possible to replenish the cash in
tb,e Treasury by the withdrawal of about
jb.uoo.oou from National banks In New
York City. This was followed on January
22 by another call for $10,000,000 fro New-
York banks. This will be followed soon
by a call on outside banks, based upon lo
cal conditions rather than upon a fixed
percentage of their holdings of public
money."
$296,000,000 In Notes Hoarded.
The amount of currency, which disap
peared from circulation from the time of
suspension of the Knickerbocker Trust
Company until confidence was practically
restored in December, Is stated as ap
proximately $296,000,000. This amounted
substantially to one-tenth of the entire
estimated money in circulation in the
United States. The Secretary of the
Treasury . touches upon the gravity of
the situation abroad as well as in this
country and gives figures concerning the
export of merchandise to show the en
ergy with which the economic resources
of the country were devoted to the relief
of the situation; the excess of exports
over imports rising from $1,464,404 in Au
gust, 1907, to $114,890,665 in December,
1907.
Mr Cortelyou defends the issue of
Panama bonds and Treasury certificates
by saying that it was advisable to
take some strong and resolute step
which would convince the public, both at
home and abroad, that the Government
was thoroughly alive to the situation and
determined to givelts aid in every pos
sible legal and proper form.
Concerning the allotment of the new
Issues of securities he says:
'Their character was such that it was
anticipated most of the subscriptions
would come from National banks; that
the 2 per cent bonds afforded such privi
leges to National banks as a basis of note
circulation; that there were strong in
ducements to the banks outside private
Investors, who would find in the bonds
nothing more than tho best form of se
curity paying only 2 per cent per an
num: and that It was expected and this
expectation was fulfilled that the bonds
would be used chiefly as a basis of addi
tional note circulation, and that such cir
culation would contribute its share to
relieving the acute pressure of currency
which existed throughout the country.
Even if there had been no other justifica
tion for limiting subscriptions to Na
tional banks, this consideration that the
bonds would be used to meet the pressure
for currency would, In the opinion of the
-Department, have justified an absolute
restriction of the awards.
"The legal right of the Department to
make allotments of the bonds and securi
ties to such persons and banks and in
such amounts as it might see fit can
hardly be called in question, in view of
the fact that the circular offering the
Panama bonds contained this distinct
provision:
Right to Reject Bond Bids.
" The department also reserves' the
right to reject any or all bids, if deemed
to be to the Interest of the United States
to do so.'
"Obviously, so far as the offer of secur
ities was influenced by the desire to pre
vent distress in the money market, it
would have failed of Its purpose if
awards had been made even to bonafide
bidders which would have resulted in
large drafts upon the reserve money of
the banks and would not have aided In
drawing money from private hoards. It
was, therefore, decided in the case of the
Panama bonds to make no awards to in
dividuals in excess of $10,000. It was also
decided to accept the highest bids of Na
tional banks for the remainder of the
issue, after these minimum allotments to
individuals."
The total bid for the Panama Canal
bonds, continues the Secretary, amounted
to $2,220,604,580, or more than 44 times the
amount offered. This fact, not hereto
fore announced, would have stamped the
loan as an even more remarkable suc
cess than it was. if all these bids could
have been regarded as made in good
faith by responsible parties. Examina
tion of the bids showed, however, that
many of them were not only speculative
In character, but that they were made in
many cases for very large amounts by
those who were personally irresponsible
and Incapable of having made even the
smallest preliminary payment If such
payment had been required.
Gave Banks the Preference.
"When the awards were made, there
fore, the bonds were awarded without
hesitation to National banks in those
cases where the prices offered were
1.02 1-8 or higher, and where the bid ap
peared in other respects to be made in
good faith and with full capacity on the
part of the bidder to execute his contract
The amount thus awarded to National
banks was $24,299,040. The awards made
to individuals were limited to those cases
where the amounts subscribed for were
for $10,000 or less, because such bids had
at least prima facie appearance of good
faith. Even upon this basis the pay
ments made after the allotment of the
bonds showed that a considerable portion
of these small bids were speculative.
There was less margin for specula
tion in the case of 3 per cent certifi
cates because, as the report says, their
term of one year did not allow for any
considerable premium without extin
guishing the amount of Interest. They
were issued at par, and this made them
immediately available, as It was not
necessary to secure bids as In the case
of Panama bonds. They therefore af
forded a convenient means to the banks
at once to Increase their circulation. -
For this reason the Secretary of the
Treasury thought proper' to announce
at an early day that offers of indi
viduals would no longer be received and
It was ultimately decided to make no
allotments except to National banks
This decision was dictated by two con
siderations first, the desire to stimu
late the issue of bank note circulation
for a period which would relieve the
crisis: and, second, the fact that the an
nouncement of the Issue of the new se
curities had, rather to a large extent,
accomplished its Intended purpose and
had made it unnecessary to issue more
than a fraction of the full amount
Bond Issue Was Necessary.
The issue of these securities was sus
pended, therefore, before the date first
named for closing the receipt of sub
scriptions, the total amount of the sub
scriptions having reached $13,959,500. The
amount issued was only $15,436,500. As all
of these were registered and issued to
National banks with the understanding
that they should be used as a basts for
Increasing their circulation or to secure
public deposits, they are all on deposit
with the Treasurer of the United States
for these purposes.
While the awards of 2 per cent bonds
were made primarily to the highest bid
ders among National banks, the effect of
the awards was to distribute the bonds
among banks in 40 of the 46 states of the
Union. The one-year certificates were
distributed less widely, but were taken,
however, by institutions in at least 18
states. The isue of the Panama bonds
would have been required in any case
within a short time to meet the expense
of construction of the canal, and the Sec
retary of the Treasury, it is argued, could
hardly be held responsilbe for the effect
of such issues of volume of hank note
circulation, whatever might be his opin
ion as to the desirability of the Inflation
which might result.
Practically, therefore, the responsibil
ity resting upon him relates only to the
$5.4-3S,500 in the one-year certificates and
will terminate with their maturity and
redemption on November 30 of the pres
ent year.
Deposits Equitably Divided.
Concerning the distribution of public
moneys In banks throughout the coun
try the- Secretary says that this has
been done without regard to partisanship,
and no section has received other than
the fair and Impartial consideration to
which it Is entitled.
It is shown that the amount of public
SliETCH OF EVELYN THAW,
After having. posed specially for this
the malt drawing in the corner and said:
"I am an artist, too. See. there is
deposits on August 22 was about $115,000,
000 of which the New York banks held
J28.253.3S6. On December 7. the figures
show public deposits through the country
amounting to $222,353,252. In connection
with this statement the report says:
"While the banks of the State of New
York appear as holders of public
moneys to the amount of 26.8 per cent
of their capital and surplus, the banks
of New England. Eastern and Middle
Western States, taken as a whole and
including New York, show a percentage
of deposits to capital and surplus of
only a little more than 15 per cent.
The banks of the Southern, Western
and Pacific States on the whole show a
proportion of nearly 18 per cent. With
the elimination of New York from the
Eastern group, the percentage of the
remaining Eastern and Middle Western
States is only about 11.2.
Details of the distribution appended to
the report show that the deposits are di
vided among 1421 banks. Considerable
space is devoted to showing that great
care 'has been taken in distributing the
deposits and much consideration is
shown to communities where particular
trade movements involve a special de
mand for currency at certain intervals.
Deficit Is Probable.
After discussing at length the policy
the Government should adopt in. regard
to paying off obligations, the report hints
in a general way at a possible Treasury
deficit at the close of the current year,
the collections for the months ended
December 31, 1907, showing a decrease In
customs receipts of JS.838.000 and internal
revenue receipts of $5,220,000, with the
probability that the rate of decrease
during the remaining half of the year will
be still greater. Anticipating the finan
cial wants of the immediate future, Mr.
Cortelyou intimates that, if new legisla
tion does not relieve him of the guardian
ship of the money market that has tacit
ly arisen, he must make provision for
relieving ' it -by making deposits in the
Autumn, when the demand for money is
usually the greatest. For this purpose
alone, under the present system, he con
siders it expedient 'to reduce the present
volume of deposits of public money in
banks. The maturing 3 per cent bonds
will also require funds.
'The Department," says he. "is finally
convinced that the cash balance now on
hand is not more than adequate to meet
all these requirements and that no well
founded criticism can be made against Its
policy of increasing tho balance tempora
rily by the sale of securities with the in
cidental purpose of preventing grave
financial, disaster."
Did Best Under Bad Laws.
On the subject of remedial legislation,
the Secretary says that in every measure
of relief the Treasury has taken, fce has
felt that he was bound, under our exist
ing fiscal and monetary system, to have
regard not simply to the operations of the
Treasury but to their effect on the finan
cial condition of the country. He has
not assumed this obligation willingly and
would be glad to be relieved of it, at least
in part, by suitable legislation and. If
recent events should lead to intelligent
legislation tending to adapt the movement
of currency more nearly automatically
to the requirements of business, it would
be a source of gratification to the Secre
tary and would greatly diminish the sense
of responsibility which must weigh heav
ily upon any occupant of the office un
der conditions such as those of the recent
crisis.
KISEK CALENDARS 10c IP.
Halfprice while last. - 248 Alder.
Custom-made choes at f octory cost
.t Basanthars house-cleaning sale.
WEEP AT COIL BILL
Littlefield. Joins Democrats'
Lodge of Sorrow.
SAYS LAW WAS VIOLATED
Maine Man Laments Shipment of
Coal for Battleships in. Ftoreign
Bottoms and Decadence of
Merchant Marine.
WASHINGTON, Jan. 29. The need of
an American merchants' marine as an
auxiliary to the Navy formed the prin
cipal topic of discussion in the House
today during the consideration of the ur
gency deficiency appropriation bill. The
debate was precipitated by Littlefield, of
Maine, who questioned the legality of the
provision appropriating $1,000,000 to sup
ply a deficiency of coal for the Navy
caused by transfer of the battleship fleet
from the' Atlantic to the' Pacific. He
From the New York Evening World.
BY FEKRKYN STAXLAWS.
picture Evelyn Thaw made and signed
a picture of me
The Angel Child." "
criticised Congress for Its failure to
make appropriations for a merchant ma
rine. His remarks elicited from Fitzgerald
(New York) the charge that the Repub
lican party was responsible for that con
dition, while Sherley (Kentucky) main
tained that the lack of a merchant ma
rine, "a National disgrace," was due to
Republican policies.
The bill was still under consideration
when the House adjourned.
Upon motion of Hull, chairman of the
committee on military affairs, the House
reduced to the extent of $300,000 the pro
posed appropriation of $716,000 for cloth
ing and camp and garrison equipment
for the Army.
Says Roosevelt Violated Law. '
Discussing the $1,000,000 coal appropria
tion, Littlefield declared that under the
act of 1817, which he said was still in
force, the coal which had been shipped In
foreign bottoms should have been seized
and sold. He said that the Attorney
General had held it not to be illegal "for
reasons sufficiently satisfactory to him,'
but Littlefield differed from him.-
"Will the gentleman suggest how this
Administration can carry out its poli
cies without violating the law?" Inquired
Fitzgerald of Littlefield. .
"That Is a thing that Is not up to me,"
replied Littlefield, who then launched
upon .a plea for an American merchant
marine. The Government, he said, at
the cost of many millions, had created a
naval fleet, and yet that fleet was with
out power to support Itself within the
radius of its operations.
Gold Brick In Philippines.
The real purpose of sending the fleet
to the Pacific was questioned by John
son (South Carolina), who said that,
whatever the object. It had caused
$1,000,000 deflency and would cause other
deficiencies. He attacked the purchase
of coal land in the Philippine Islands,
and declared that "somebody got the
money and we got a' gold brick." The
people, he insisted, had been -bunkoed In
that transaction.
Saying that the cost of transporting
coal for the fleet from the Atlantic to
the Pacific in foreign bottoms was ex
orbitant, Sherley said it was a disgrace
to America, and that there was not suf
ficient merchant marine to supply simple
colliers, and he charged the Republicans
with having built a tariff wall so high
that a merchant marine could not live.
The item was allowed to remain in the
bill, the reading of which for amendment
was continued.
TALK CURRENCY TWO WEEKS
Senate Will Debate Aldrich Bill
. " Until Disposed Of.
WASHINGTON. Jan., 29. The Aldrich
financial bill, which is to be reported to
the Senate tomorrow, will be taken up
for debate about February 10 and kept
steadily before the Senate as the unfin
ished business until it Is disposed of.
Senator Aldrich believes that not more
than two weeks will be consumed in
discussion.
The announcement of the attitude of
Mr. Bryan concerning the bill is taken
as an indication that Democratic oppo
sition will not be drawn out. There
will be an attempt to have treasury
substituted for bank notes in the bill,
but the contention will not extend
much farther.
In addition to the changes already
noted, the Aldrich bill, as agreed upon
by . the Republican members of the
committee on finance, entirely elimin
ates the provision requiring National
banks located outside of reserve cities,
which are now required to keep a re
serve, to maintain two-thirds of that
reserve in lawful money. The provi
sion making railroad bonds proper se
curity for bank, issue is changed so as
to exclude the bonds of railroads which
do not comply with the law requiring
the roads to make reports to the Inter
state Commerce Commission.
NE WMEXICO GIVES IP FIGHT
Will Not Strive Further for State
hood This Session. 1
WASHINGTON, - Jan. 29. New Mexico
today practically gave up its efforts to ob
tain statehood at this session of the Six
tieth Congress, when Governor Curry, ap
pearing with ex-Governor L. B. Prince
before the House committee on territories,
invited that committee and the corre
sponding committee of the Senate to visit
New Mexico next Summer after the Na
tional Conventions. He desires them to
see and Judge for themselves whether the
territory which for 50 years had been
seeking admission to the Union as a
state, is entitled to that benefit and ought
to have it.
It is understood that Governor Curry's
invitation, following the suggestion to him
by Spealfer Cannon a few days ago, that
It would not be wise to press the issue on
the eve of a. Presidential campaign, sig
nifies a truce for the Winter. The com
mittee took no action on Governor Cur
ry's invitation.
Reorganizes Army Dental Corps.
WASHINGTON. Jan. 29. The Senate
today passed a bill to reorganize the
corps of dental surgeons attached to
the medical department of the Army.
Appointments to the corps are to be
made at the rank of first lieutenant.
A bill giving- the Secretary of the
Treasury authority to allow importa
tions of tea Inferior In purity and qual
ity for the manufacture of theine. caf
feine or other chemical products also
was passed.
Make Polygamy Unconstitutional.
WASHINGTON, Jan. 29. Senator Hod
kins today Introduced a Joint resolution
proposing an amendment to the Constitu
tion prohibiting polygamy In the United
States.
BRIEF NEWS BY TELEGRAPH
Elko. Nev. Patsy Dwyer. who killed A.
C. Williams at Austin last July, was acquit- i
ted Wednesday on a plea of alcoholic In
sanity. Chicago. The $10,000 diamond ornament
lost by Mrs. W. W. Kimball at Mrs. Mar
shall Fields dinner, was found In the snow
on the sidewalk by a maid, who received
a reward of $100.
San Franc!o. Customs officers on Tues- 1
flay seized 220 five-tael tins of opium, hid- 1
den on top of the steamer City of Puebla. :
There was about 100 pounds of It, on which
the duty Is $600.
Mexico City. The Englioh Company of
Pearson & Son, Limited, has Invested $16,
000. 000 in oil land and wells for the pur
pose of fighting the Standard Oil Company
for the trade of Mexico.
Oakland. Cal. Theodore M. Kail, who
committed suicide on the Piedmont Hills
Sunday, proves to be a Harvard graduate,
son of Arthur M. Hall, a wealthy book mer
chant of Haverhill. Mass.
St. Louis. A jury last night found that
the killing of Ous. Kind, a negro, by Joseph
T. Vol k man. who caught him robbing Mr.
Volk man's home, was justifiable and started
a subscription to buy Mr. Volkman a gold
medal.N
Pittsburg, Pa. Enraged because beautiful
Mary Cozlnl.- aged 18 years, delayed their
marriage, Dominic Polcinl pursued her to
her room with a revolver and was stabbed
to death by her. Just as he fell, he fired a
shot, which killed her.
New York. About $40,000,000 worth of
long-term 4 H per cent city bonds will be
sold next month. When the city sold $50,
000,000 bonds last Fall It agreed to sell
no more until the buyers had placed the
first lot with investors. This haa been
done.
Chicago. Walter Mack, a graduate of
Stanford, who has dissipated a fortune of
$15,000 In a year, was arrested Wednesday
in August Nagel's restaurant on a charge
of passing a forged check on the proprietor.
tie was in company witn two cnorus girls
and four young men.
New York. Hugh Adolphus Tyranny, the
"Army bad man," is in irons at Castle Wil
liam and will be sent to Fort Leavenworth
prison to serve 24 years. When brought
from Havana, where he has been In the
guard-house frequently, he had a revolver
hidden In his sieve.
San Francisco An Inbound San Mateo
electric car, which got beyond control of
theNnotorman, while descending a steep
grade In China avenue, Wednesday morning,
overtook and crashed Into a car of the
Folk-street line, wrecking both cars and
Injuring a dozen passengers, three seriously.
New York. Plans have been prepared for
a new Protestant Episcopal Church at Fifth
avenue and Fifty-third street, which will
cost $1,000,000. The church officers are de
termined to avoid in this sacred edifice the
"structural He" of employing steel and re
inforced concrete construction with veneered
exterior.
Los Angeles. Abbit Kinney, the cigarette
millionaire, known as the Dodge of Venice,
has been served with 30 warrants by the
trustees of Ocean Park, charging violation
of a city ordinance, because he refuses to
remove 150 tents and villas in his grounds.
The flcht Is between the better class of
residents and those who wish to rent villas
at moderate rates.
New York Carleton Kremer, the 4-year-old
adopted son of Dr. Kremer. has been
recovered from his mother. Mrs. Maude G.
Clarke, who kidnaped him three months
ago, after having voluntarily surrendered
him three years ago to the Kremers. The
police force had to force the door of the
parents of Mrs. Clarke at Boston In order
to seize the child.
Italy Warns Against Emigration.
ROMFj. ' Jan. 29. The government
"Open All the Time
ABSOLUTE
SAFETY
OFFERED
DEPOSITORS
No interest paid on
commercial accounts or
daily balances.
INTEREST
Paid on Term Savings
Accounts
By the old gold tried
and tested
German-American
Bank
Corner Sixth and ANer Stsu,
Opposite OrcsTOBiasb
4-96
mm.
Baklno
ins oeij Dairag rweer maae
wiUi Royal Grape Cream of Tartar
made from grapes
Insures healthful and
delicious food
home every day
Safeguards your
attsi aw phospaate of lime
through the emigration office has issued
another notice with the object of dis
couraging emigration to the United
States. The notice states that the Ital
ian consul in New York has telegraphed
here urging Italians to remain at home
while the present industrial depression
and scarcity of work continues in the
United States.
Campaign Against Prohibition.
CHICAGO, Jan. 29. The Manufac
facturers' and Dealers' Club, of Illinois,
will start a campaign of education
throughout the United States to create
a sentiment against the local option
laws and districts which are becoming
so numerous, and against "cranks, hypo
crites' and the fanatical prohibition ele
ment." The movement is not wholly in
the interest of the manufacturers. Con
If it makes a difference to you what sort of shoes you
put your feet into, it makes a lot of difference wHere you
go to get them and who makes them.
If you don't know what a difference Selz Royal Blue
shoes will make in your foot comfort, in the service and
style you get and in the money you save, come in here
some day and get a pair of these fine shoes. They're
different.
Selz Royal Blue Shoes, $3.50, $4 and $5
Best Oak Sole Leather Used in Our Shoes
SEVENTH AND WASHINGTON STREETS
(Formerly at 149 Third Street)
Best for
Beautiful Portable
Electric Lamp
19 inches high; brushed brass
finish; handsome 12-inch shade;
complete with 5 feet silk cord
and plug.
FOR THE HOME
FOE THE PARLOR,"
DINING-ROOM
OR LIBRARY
These artistic fixtures vroul.i
retail at from $8 to $12 each.
On Sale at Company's Supply
Department
147-149 Seventh Street
Portland Railway,
Powder
for every
food against
cern is felt for the welfare "of the starr
ing women and children of employes
thrown out of work because of the ac
tivity of the prohibitionists."
May Get Conviction in Idaho.
MOSCOW, Idaho, Jan. 29. F. S. Skid
more, alleged showcase swindler, has
been brought here for trial, after the
grand Jury at Pendleton failed to indict.
Skidmore carried on his alleged opera
tions in this region before he went Into
Oregon. The alleged victim was R.
Hodgins, druggist, and the affair took
place September 11, last year. Hodgins
heard from the Grand Rapids Showcase
Company that Skidmore was doing ir
regular work and turned his complaint
over to the authorities about the middle
of November.
Reading
THE SUNLIGHT"
Electric Portable
Light S Power Go.