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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (April 13, 1910)
THE MORXIXG OREGOXLVX, WEDNESDAY, APRIL, 13, llO. TELEPHONE BONDS WILL BE SQUEEZED Local Home Company to Sue Puget Sound & Northwestern. LITIGATION IS FRIENDLY Overcapitalization Prevents Pay ment of Interest on Bonds, and Cripples Work of Extension. Suits to Be Filed in Tacoma. Hisrh finance on the part of the pro moters of the Puget Sound Home Tele phone Company is alleged to have in volved those companies in trouble so that the officers of the companies are now attempting to return to a working basis by carrying the matter into the courts. The Home Telephone 7. Tele graph Company of Portland will file suit In the United States Court at Ta coma this morning on account of in debtedness due the local company and will ask that receivers be appointed for the two companies, according to Rich ard W. Montague, who is acting as the attorney for the local company in con Junction with McCafferty, Robinson 74 Godfrey, of Seattle. Mr. Montague says: "The suit involves 1150.000 indebted ness from the Puget Sound Home Tele ent telephone company operating in Ta phone Company, which is the independ coma and Belllngham, and 55,000 from the Northwestern Long IMstance Com pany. - These suits will ask that re reivers be appointed by the court. Suit Is Friendly One. "The suit is in some measure a friendly one. The reason of this is that the two companies are under practjcally the same control as the Portland company and while all com panies are on a good working basis the two Northern companies were bur dened by an excessive bonded indebt edness, owing to the fact that the pro moters floated the bonds at two or three times their actual value, and now the financial condition has reached a point where the water must be squeezed out, as at present it is im possible to pay the fixed charges, the interest on the bonded Indebtedness. "This condition is. of course, not fa vorable to the interests of the bond holders, as they will now lose about 50 per cent if they bought at par, but when the water has been squeezed out the bonds will be valuable and well paying properties. The bonded indebt edness of the Northwestern Long Dis tance Company is about $1. 317,000, and of the Puget Sound company amotfnts to something over 1, 800,000. These bonds have been scattered all over the country and at present are selling at somewhere in the neighborhood of 35 cents, but when the reorganization now being undertaken is effected they should prove a good investment at 50 cents. These" figures are, of course, but estimates made from a rough sur- .vv rf pnniHtinna Service Is Xot Affected. "The action which is being taken in no way involves the work done by the com panies. They will proceed with business - u.-.uui 1 1 ' ii iur icL-ejven! are appoint ed. It effects the money tntersts alone, not the service. There will be no oppo sition on the part of the companies which are used to the appointment of the re ceivers as the Portland company and the Northwestern and Sound company are all held under the same control, and the action is being taken simply to make it possible to pay the fixed charges which In this case comprise the Interest due on the bonds. "This action has resulted from several week's investigation, but was instituted at the instance of Samuel Hill, of Seat tle, who is Interested in the local com pany as a director. Iate in December, J. C. Potter was appointed auditor of the local company, and he began an in vestigation o fthe bpoks which brought to light the fact that the two Northern companies were insolvent. This was brought to the notice of Mr. Hill, who promptly started the proceedings with the result that a a directors meeting held on Monday morning It was decide dto go ahead and sue, and from then we have been busy preparing the papers and gathering the necessary information." Mortgages to Be Foreclosed. The working out of the suit involves a plan to scale down the fixed charges by scaling down the bonds. This will probably be done by foreclosing thd mortgage held to secure the bonds for the two companies, and then having a complete reorganization with the bonded Indebtedness fixed at a figure where the interest payments can be met. Hervey Lindley. vice-president of the Home Telephone & Telegraph Company of Portland, said: "1 was not present at the meeting of the Portland board held on Monday morning, but am familiar with the sit uation. "The Portland company is in good physical condition and is earning fixed charges on its bonds. Tt has no float ing debts. April 1, 1909. the company had about 7010 paying phones in serv ice. It has now more than 11,000. The growth of the company has been due to the fact that some of Portland's best citizens have taken places on the Port land board. Advances in considerable sums have been made to the Home Telephone Company of Puget Sound and the Northwestern Long Distance Telephone Company. I Money Needed for Extension. "While these companies are in good physical condition and are serving the public satisfactorily, they cannot meet their fixed charges. The present board has not sold, any of these securities, but with a large indebtedness pre viously contracted by these companies no new money could be enlisted for their extension and development and a reorganization of these companies Is Imperative. "I cannot forecast the action of the bond-holders and others having securi ties of these companies, but I believe were the charges scaled down and new money enlisted for investment these companies can be put in good shape. "The increase in the Portland busi ness shows that the automatic service meets with favor of the public , "Tacoma and Belllngham are good, thrifty cities, and there is no reason why. with the proper management, these companies should not be made to pay interest on a reasonable investment." Park to Be Extended. MED FORD, Or., April 12. (Special.) An acre of land belonging to the city ad joining the Main Street Park is, being plowed and put into shape today for an extension to the main park, CHAEMING POETLAND ACTRESS PLEASES - PATRONS BAKER THEATER. AT MISS 9iGLL FRAXZEX. One of the most promising young actresses whose home has al ways been in Portland, except when playing road engagements, is Nell Franzen who is appearing this week at the Baker Theater, in the support of William Dills in "The Man from Mexico." Miss Franzen's former work in minor roles with the Baker Stock Company never failed to attract attention and one of her best -remembered successes was as Phoebe Puckers with Donald Bowles when he presented "The Prince Chap" early this season. She has only recently finished a long engagement with the Sanford Stock Company, In Vancouver, B. C. Miss Franzen is a cousin of the well-known actress, Jessie Shirley. Miss Franzen's beauty of mind and person, together with her charming and unaffected manner, form ir resistible attributes tfiat will be potent factors in assisting her to forge rapidly to the front in her chosen profession. She will remain over next week with Mr. Dill's new play "All tlje Comforts of Home." LANDR1GHTSREGIPR0GAL JAPAN'S IiAV DOESN'T CHANGE STATUS OF AMERICANS. lege. It was voted to give it to the college. Ownership of Property Will Depend on Same Privilege Being Ex tended by Other Nations. TOKIO, April 12. The recently adopted land ownership law, restricting the ownership of land in Japan to such foreigners as come from a country which extends similar privileges to Japanese residents, will be promul gated tomorrow. WASHINGTON", April 12. The opera tion of the Japanese alien land owner ship law, it is said, here will not ma terially change the status of Ameri cans in Japan in the matter of land ownership. Under the terms of the treaty of 1894 citizens of each country may own or hire and occupy houses, manufactories, warehouses, shops and premises in the country of the other and may lease land for residential and commercial pur poses, but the treaty does not confer rights upon either to own or hire agri cultural lands. t Several states of the Union specif ically prohibit foreigners owning land within their borders. In Oklahoma it is prohibited altogether. Other states alio wnaturalized aliens to own land and those who have declared their in tention to become so. This is also the law In the District of Columbia. Ne vada makes no restriction as to the foreigners except Chinese, who are not permitted to own lands In that state. Some of -the states, including In diana and Iowa, limit the amount of land a nalien may own to 350 acres. In South Carolina, the limit is 500 acres, and in Pennsylvania 5000: In New York and Texas the laws are similar In their effect to the law re cently passed by the Japanese Diet allowing- aliens to own lands if re ciprocal rights are granted by the country from which they came. AUTO CLUB ENTHUSIASTIC M. C. Dickinson Chosen President. "10OO in 1910" Slogan. 4 The board of directors, the working organization of the Portland Automobile Club, was organized last night at the Commercial Club. The election of offi cers resulted as follows: President, M. C. Dickinson; vice-president, W. J. Clem ens; secretary, Julius 1 Meier; treasurer, Elliott Corbett. The other members of the board are Dr. Andrew C. Smith, H. B. Mackay, Frank B. Riley and, Lewis Russell. The club proposes to make this year the greatest in the history of the organi zation. The members of the board of directors are enthusiastic over the vari ous proposals already promulgated by the club and those proposed. The holding of road races this Summer, both professional and amateur, on the parallelogram track East of the city and at the beach are among the events pro posed for this Summer. The club also proposes to build a clubhouse soon and devote its energies generally to increas ing its membership and the Improvement of roads. The membership slogan Is "1000 in 1910." . During the past year the membership was increased 300, it now being - near 400. It is believed this can be increased to 500 within the next 30 days. The treasury of the club is in good condition. I ATHEXA RECEIVES VISITORS AVuila Wallans See Town TTnder Es cort or Citizens 'With Band. ATHEXA. Or., April 12. (Special. ) The members of the Walla Walla Com mercial Club called upon the Athena Commercial Club today. 260 strong. They were met at the station by a special dele gation of business men and the Athena band, who escorted the visitors about the city. Mr. Crawford, president of the Walla Walla club, declared that it was the pur pose of the club to get acquainted. Further, he said, he believed that tha club could give more efficient service y being better acquainted. The Walla Wallans then went on to Pendleton. As they were en route on their return from Pendleton they took a straw vote upon whether Fort Walla Walla ehould be retained or given to Whitman Col- LAD WHIPS INSTRUCTOR Unruly Scliolar Sent to Workhouse by Xevr York Magistrate. NEW YORK, April 12.Toseph L. Corbett, athletic instructor at the Boys' night school at East Broadway and Gouverneur street, asked. Magis trate Corrigan in the Essex Market Police Court today to punish Sam Boy linsky, of 298 Madison street, for blacking his eye. Corbett is over six feet tall and weighs about 190 pounds, while Boy linsky 4s only live feet six inches, and weighs 130 pounds. Notwithstanding this difference in size, when the two came to blows at last night's lessons, the boy swung such a terrinc left that Corbett fell and his right eye closed and changed color. Corbett sa,id that Boylinsky was dis turbing the class by loud talking, and when he admonished him Boylinsky turned upon him when he least ex pected it. "i admit I hit him." Boylinsky said, 'but I thought he was making for me." "To the workhouse for five days ' said the magistrate. MOB AFTER ONE L0CHNIVAR Love-Sick Youth's Attempt to Win Bride by Force Pails. NEW YORK, April 12. Frank Pipp. of Paterson, recently attempted a Lochinvar act which resulted in his ar rest. Pipp has repeatedly asked Eliza beth Saal, the 16-year-old daughter of Professor Christopher Saal, a well known musician and composer, to marry him, but ehe has always refused. While Miss Saal was tending the bakery store of her uncle, at. No. 6 North West street. Pipp entered, grabbed her, and said: "I love you- 1 want to marry you. Tou will have 'to be my wife." Miss Saal screamed and Pipp put his hand over her mouth. Then, she grabbed a handful of coins from the cash drawer and hurled them against the store window to attract attention. Several men rushed into the store and overpowered Pipp. An angry mob soon formed in the street, and there were cries of "Lynch him." A large force of police was required to take the young man to the police station. LEGS GONE, BOY WOULD DIE Cripjie Tells Mother He's Ready for Death Call. CHICAGO. April 12. I don't care if I die. It is just as good to die as to live without legs." Harold Hannum. 11 years old. whispered those words today to his mother. Mrs. Annie Hannum. as she knelt at his bed side in the Alexian Brothers' hospital. Four years ago the boy's right leg was cut off by a wheel of a streetcar. Friday he fell under another car and his left leg was crushed so that a surgeon amputated It as the only way to save his life. Harold's father, Harry Hannum. 1709 North Talman avenue, is a machinist. His mother scrubs floors at night to increase the family income. Harold has been going to school, but after school hours his time has been his own. With the aid of a crutch he has been able to hold his own with other boys in their play. In one of the games he tried to "flip" a streetcar. His crutch slipped and he swung under the truck. A wheel passed over the remaining leg. Attending physicians at the hospital say he has slight chance for recovery- Each leg is cut off at the knee. KAXSAS CITY GETS ROOSEVELT Ex-President to Address Conserva tion Congress There. KANSAS CITY, April 12. The Na tional Conservation Congress, which Theodore Roosevelt has agreed to ad dress during his trip through the West next Summer, will be held in Kansas City at a date to be set later. The Commercial Club called a special meet ing today to accept the offer of the executive committee of the Congress to hold the gathering in the city. Salmon Output Totals $13,000,000. BET. T.INGHAM. Wash, April 12. The output of Puget Sound salmon Advice to Women A Message from a Famous Beauty Specialist to Women Lacking in Energy and Vitality Thousands of women vainly . attempt to improve their complexions- and to remove ' blackheads, crows' feet -and other blemishes, through the use of cosmetics. This treatment fails be cause the trouble lies far deeper than the skin. They are suffering from im pure and impoverished blood. This con dition is in many cases due to a catarrhal condition .of the whole sys tem which finds its expression in sal low, muddy complexion, dark-circled eyes, general weakness of the system, and perhaps most plainly In the weep ing of mucous meinbranea that is com monly called catarrh. In fact this whole tendency Is, prop erly speaking, Catarrh. Banish this catarrh, and the complexion will clear as if by magic, eyes will brighten, faces become rosy and shoulders erect. Perfect beauty goes only -with perfect health, and perfect health ' for women can only be obtained through one cer tain treatment that whioh will cure catarrh. Mme. Swift, New York, the famous beauty specialist known throughout the world and an accepted authority on all relating, thereto, states that the one positive and permanent relief for catarrh is Rexall Mucu-Tdne. Here Is her letter: "I can strongly endorse the claims made for Rexall Mucu-Tone as a cure for systemic catarrh. Its tonic effects are remarkable. It builds up the strength and restores vitality. If wo men who are tired and run down, lack ing in energy and vitality, will use Rexall Mucu-Tone, they will praise as I do its strengthening and healing qualities." Rexall Mucu-Tone works through the blood, acting thus upon the mucous cells the congestion and Inflamma tion of which causes local catarrh. This remedy causes poison to 'be ex pelled from the system, and the blood is purified and revitalized. Thus the natural functions of the mucous cells are restored, and the membranes are cleansed and made strong. We know that Rexall Mucu-Tone does relieve catarrh. We positively guarantee to refund the money paid us for this remedy in every case where the user is dissatisfied. It is a builder of vig orous health and a creator of good complexions. Price 50 cents and $1.00 per bottle. - Mail orders filled. It may be obtained only at our store, The Rexall Store. The Owl Drug Co., Incv cor, Seventh and Washington streets. fisheries for the year ending March 31, 1910, was valued at $13,534,010.10, according to the annual report of State Fish Commissioner Rlesland. issued here today. Capital employed aggre gated $4,800,000 and 13,000 persons were employed in the industry and earned $4,000,000. The state fish hatch eries turned' out 72.000,000 salmon fry. HEATHEN TO GET PARROT JAPANESE TOY DOG IS ALSO LEFT "FOR IXDIA." Catholic Missionary Propaganda Is Recipient of Peculiar Gifts From Peculiar People. NEW YORK, April 12. "Anything will do," is the way the Rev. John J. Dunn, New York director of the So ciety for the Propagation of the Faith, the Catholic missionary organization, with offices at Madison avenue and Fifty-first street, appeals for help in collecting material to send boxes to missionary priests at the ends of the earth. One morning recently an employe of the American Express Company rang his bell and deposited a crate. The con tents was heard before it was seen and proved to be a nice little Japanese toy dog. It was labeled "For India," and the writer gave instructions that It must be "sent at the earliest con venience." However, the small animal is being held until there can be found a safe means of transportation. Hardly had the priest become recon ciled to the thought of spending money to send the dog to India when there was left at his office another mysteri ous package. This likewise was heard before it was seen, and. that in no un certain manner. It also was intended for India. This gift for a missionary box proved to be a bright green parrot with a most wonderful vocabulary, in dicating that it had lived .among sail ors, or at least not with Christians. The bird had been held under cover for fear of contaminating not only the missionary office, which is in the Ca thedral College building, but the home of the clergy of St. Patrick's Cathedral, and even the residence of Archbishop Farley across -the street No, its remarks are not printable. Father Dunn has confided this to a friend and the priest hopes before' long the Mr. Poll will give some evidence that he has passed through the hands of a missionary society. But the pros-' pects are the leaves will be rea before this bird is fit to go to the heathen. Twelve silk hats were sent to the office for far-off lands. They went In a box to a mission on the west coast of Africa. Recently Father Dunn received a photograph of the king of the prov ince and 11 others of the royal family, including several ladles, showing 'them with the silk hats on their heads. VATICAN ISSUES CURT REPLY Roosevelt Can't Bracket Pope With Personages He Hunted. ROME, April 12. The Vatican has authorized a statement with reference to a call made by Abbott Lawrence Janssens, one of the most learned Benedictines and secretary of the Con gregation of Affairs of Religions, on ex-President Roowevelt, on the eve. of the latter's departure from Rome. Abbott Janssens did not find Mr. Roosevelt at home, but left his card, on which he -wrote in French that he desired to congratulate Mr. Roosevelt for the constant support given to his jL; ; A chance for you to realize your ambitions in a new city on the C, M. & P. S. Ry., already estab lished. Write or call 219 and 220 Com. Club Bldg. for free Book let TODAY. jtL iriL Ji ILu TH 1 1 rfv Remember the day, for on this date the prices on every lot in the N. E. Section of Laurelhurst will be advanced from $200 to $300 per lot. ' Then your opportunity will be gone. Figure it out for yourself and you can readily see the advantage of making your purchase at once. First remember, every lot in this Northeast Quarter of The Addition with Character Will be advanced from $200 to $300 per lot. A lot that will cost you $1000 now will be worth from $1200 to $1300 on April 15. Now, on our terms of 10 per cent cash and 2 per cent per month, you will pay only $100 cash for this lot and on April 15 its price will be advanced $200 to $300. .If you sell after April 15 at regu lar price you have made a profit of 200 per cent or more on your investment of $100. But act now. See this property at once, for on April 15 ... PRICES ADVANCE $200 to $300 PER LOT Take Montavilla or Rose City Park cars direct to Laurelhurst or call at our office and we will take you out to the property in our autos. Deal with any of our authorized brokers if you prefer. AUTHORIZED BROKERS! Charles K. Henry Co. Wakefield, Vrtrm A Co. fieorgf D. Schalk. H . P. Palmer-Jones Co, Holmes A Menefee. Mall & Von BomteL Mackie A Roantree, II. F Bryan & Co. Prlrk-Doddi Co. Rnf f-ivleinnorge Laid Co. Dubois Crocket Realty Co. C'hapln A Hrrlow, Haas & Itlna-ler.' SALEM AGBJfCT, A. ST. JIOORES, 1-S BCSH-BRETHAN BLOCK. EUGENE AGKCT, MAG LA Oil IT A. SHUMATE. ALBANY AGENCY, A T. STARK. WALLA WALLA AGENCY, DRUM HELLER A ENKIS. 1 W. C. KOfiHKfi, J 522-526 Corbett Bunding Phones Main 1503, A 1515 Chas. M. Burrowes Ad Service- order and to the Catholic Church in general in America during "his glori ous career" as President, which he hoped would soon be resumed. The Vatican's statement says: "The holy father has highly disap proved of Father Janssens' initiative toward Mr. Roosevelt. as cabled through the Associated Press, as this act of his evidently lends itself to an interpretation offensive to the holy father. Father Jenssens acted through his own impulse, without any author ization from anyone whatever.' The statement further emphasized the Vatican policy, which, to use ita own words, was that "it dii not wish. Mr. Roosevelt to bracket the Pope witti other more or less royal personages he will boast of having hunted in Europo after his African hunt." ON SALE SATURDAY, APRIL 16 ON DRAUGHT AND BOTTLED The mammoth kettle of our new brewhouse has turned out an exceptionally fine Bock Beer. As the supply of this superior and delicious product is limited, we now solicit your orders to be delivered on and after the above date. HE NRY WEINHA REWERY Phones Main 72, A 1172