Morning Oregonian. (Portland, Or.) 1861-1937, April 13, 1910, Page 14, Image 14

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    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