TTIE MORNING OltEGONIAX, MONDAY. DECEMBER 21, 1914. RUSSIA IS SATISFIED WITH WAR SO FAR First Period Is Closing, Says i Member of Petrograd e General Staff. NEW POSITIONS FAVORABLE Admitting Teutons Have Advance, Observer Says They Cannot Hope to Send Korea West, as Czar Is Reinforcing Ills Array. .1 r PETROGRAD. Dee. 20. via London. la. General attached to the Russian General Staff, who recently returned to Tetrograd from the front, reviewed the present military situation today in an optimistic manner. "We are now at the close of the (first period of the war." he said. "It lias ended, to be sure, with the battle front shifted to the eastward, but with out marked advantage for the Germans. "The German offensive was begun with the center extending from Posen to Kalisz. The armies of Generals Mackensen and Francois advanced to the river Bzura. occupying positions in Almost a straight line from Plock through Domitlz and Lodz to Piotrkow, where they fortified themselves. The northern division which proceeded to Ciechanow and Makow was forced back to the frontier. y Railways Aid Teutons. "The Austro-German troops from Si lesia advanced toward Olkusz and Novo Radomsk, while further to the outh the Austians proceeded to the river Dunajec, aiming to free Cracow. "To the southwest of Przemysl an 'Austro-Hungarian army attempted to cross the Carpathians, striving to re lieve Przemysl and free Galicia. The centers of Intense operations developed In the order above mentioned. "The strategic position of the rail road lines enabled the Austro-Germans to maneuver their forces north and Bouth, east and west and vice versa. The total number of Austro-Germans opposing Russia Is estimated at more than 10 army corps (about 1,600,000 men). 30 Corps May Go West. "The present aim of the enemy evi dently is to take the Lithunian fort resses of Kovno. Dvinsk and Grodno and occupy Western Poland as far as Warsaw, while the Austrlans are at tempting to free Galicia, push north ward to Lublin and occupy Southern Poland. If the enemy were successful In thus freeing- its own territory and fortifying the lines - mentioned, no ef fort would be made to go farther. The enemy would content himself with re maining on the defensive along this front, so that 30 army corps might bo transferred to the western theater of war. "These aspirations cannot be real ized, because the Russians are being reinforced continually and now are oc cupying positions which may be de fended much more effectually than their previous ones. . "The Sochaczew country, which Is low and marshy, offers the most excel lent facilities for defense. The rainy weather also favors the Russians in their trench-digging, while at the same time it ruins the roads used by the German forces of invasion. New Battles Forecast. "During the temporary lull in this region the next large battle is expected around Cracow and Przemsyl, with the probability also of German demonstra tions in force around Mlawa, Suwalki end Wlrballen. "The situation on the Caucasian iront has not changed materially. The Russians there are remaining on the defensive on account of the rigorous weather. The Turks, with greatly in creased forces, are attempting an in vasion along a route which leads from Urumiah, in Northwestern Persia, to the shore of the Caspian Sea "at Baku, thence to Blizabethpol and on to Tiflis. "Between Kars and Erzerum, where hostilities were begun, operations are at a standstill. The previous Intention of the Turks to make a descent on the Crimea and elsewhere along the Black Bea has been either abandoned or de layed. "Meanwhile Russia is preparing a toast line defense. The Turkish fleet, after its reappearance at Batum, again lias disapeared. "I regard the net results of this -first period of the war as a source of gen eral satisfaction." HOMEOPATHS ARE INVITED Jr. Byron E. Miller Plans Excur sion Prom Chicago Next Summer. Dr. Byron E. Miller, president of the American Institute of Homeopathy, re turned yesterday from "Marlon, O., where he presided at the December meeting of the trustees of the institute. This concludes an extensive tour of the East taken by Dr. Miller the past month, during which he visited Min neapolis, Chicago, Columbus. O., Toledo and Cleveland. The next meeting of the Institute Is to be held in Chicago and Dr. Miller is arranging to have a special train leave Chicago for Portland at the close of the Institute sessions. July 4. The dele gates on this special will pass several "days In Portland. CHRONOLOGY OF CHIEF EVENTS OF WAR TO DATE. PROGRESS OF PAST WEEfc. December 13 German cruiser Dresden, survivor of battle off Falk land Islands, arrives at Punta Arenas, Chile. December 14 Servians, reoccupy Belgrade, which they evacuated De cember 2. ttfter siege lasting since July 29. Austrlans completely routed. December 15 Allies renew strong offensive campaign In France and Flanders. Austrlans force way through Carpathians, driving Russians out. German converted cruiser Cormorant interns at Guam. December 16 German fleet raids east coast of England. Hartlepool, Scarborough and Whitby bombarded. Eighty-four persons, mostly civilians, killed. December 17 Mines strewn by German raiding fleet In retirement from English coast cause loss of three British merchant vessels. December 18 Germans capture Lowicz, Poland, within 40 kilometers of Warsaw. Russians' retire to strongly entrenched positions previous ly prepared. Three more British vessels sunk on coast of England by raiders' mines. - - - EARLIER EVENTS OP THE WAR. June 28 Pan-Slavic propaganda culminates in assassination of Archduke Francis Ferdinand, heir to Austrian throne, and his wife. July 28 Austria informs Servia her reply to a demand for repara tion and unreserved apology is unsatisfactory, and declares war on Servia. Troops Invade Servia. . August 1 Russia refuses Germany's demand and German Am bassador presents formal declaration of war on Russia. France mobilizes informally.- State of war declared between France and Ger many. German and Russian troops engage in border skirmishes. August 2 Two German armies enter France. Russian troops enter Germany. August 3 France declares .war "exists with Germany and formal declaration not necessary. August 4 Great Britain declares war on Germany. - August 7 Austria formally declares war on Russia. August 13 Great Britain and France declare war on Austria. August 15 Japan sends ultimatum to Germany, demanding that she withdraw ships and evacuate Kiau-Chau, China, giving her until August 23 to obey demand. August 18 British expeditionary army landed in France. August 20 German cavalry occupies Brussels. August 23 Japan declares war on Germany. August 24 Brussels surrenders to Germans. August 25 Namur falls before German artillery fire. August 29 British fleet victor in sea fight in Heligoland Bight, Germany losing cruisers and torpedo-boat destroyers. September 3 French capital moves to Bordeaux. September 6-w-Allies agree no peace will be made without mutual consent. September 22 Three British cruisers sunk by, German submarine; 1400 lost. - f October 9 Antwerp capitulates to German forces. October 16 Germans enter Ostend, on English Channel. British cruis ers sunk by German submarine. October 17 Four German destroyers sunk by British cruiser in North Sea. . October 20 Japanese occupy Ladrone Islands, in Pacific Ocean. October 21 Germans retreat from Warsaw, Russian Poland. British fleet attacks Ostend. October 27 British super-dreadnought Audacious, third lri'tonnage and armament in British navy, sunk by torpedo or mine off north coast of Ireland. October 28 Four days' battle won by Russians south of Pllitza River. October 29 Turkey's warships bombard Russian ports and sink gunboat; Prince Louis of Battenberg resigns as First Sea Lord of British navy because of Austrian birth. October SO Turkish government disavows acts of warships. , October 31 Turks annex and Invade Egypt; German submarine sinks British cruiser Hermes. November 1 British squadron defeated by German fleet off Chil ean coast. November 2 Russia declines Turkish apology for attack In Black Sea. November 3 Great Britain and France formally announce state of war with Turkey. , " . November 7 Tsing-Tau. German stronghold in China, falls before Anglo-Japanese assault after long siege. November 10 German cruiser Emden destroyed by, Australian cruis er; German'cruiser Koenigsburg bottled up. November 20 German advance into Russian Poland checked. November 26 British battleship Bulwark blown up and sunk near mouth of Thames from undetermined cause. December 2 Austrian army occupies Belgrade. December 7 Germans occupy Lob, Poland. 5 December 8 German commerce destroyers Scharnhorst, Gneisenau, Leipsiz and Nurnberg destroyed off Falkland Islands by British fleet. Cruiser Dresden escapes. ITALIANS BITTER AGAINST AUSTRIA Police and Troops Suppress Outbreaks at Memorial for Martyr of Trieste. SUCCESS!! ACTS, NOT WORDS, URGED BRITAIN IS PATIENT Churchill Says Nation Will Avenge German Raid. COLLEGE GIRLS GIVE HELP Co-Eds at Corvallis Contribute Belgians and Local Poor. to OREGON AGRICULTURAL COL LEGE, Corvallis, Dec. 20. (Special.) Working in co-operation with the Bel gian relief fund movement, the domes tic science and art department of the Oregon Agricultural College has, dur ing the last week, devoted the time of its students and faculty to making garments to be sent with the consign ment of relief funds afid articles from the Pacific Northwest. Along with the various steps taken for tho relief of starving Belgium the women of Waldo Hall have also remem bered the needy people of the City of Corvallis. MINE DESTROYS STEAMER Briton Believed to Have Snnk Ireland, Says Admiralty. Off LONDON. Dec 20. The British steamer Tritonla of the Donaldson line, struck a mine off the North Coast of Ireland Saturday and is believed to have foundered, according to an an nouncement made today by the Ad miralty. The crew of the steamer was saved. The Tritonla, which was of 2720 tons, . was bound from Partington for St. John. N. B. NAVAL PRESSURE PROVED mit a final appeal, which'- will be an swered by a committee of local citizens appointed to represent the local con sumers, f The hearing was instigated by a score of rural residents who complained to the Commission that the rates charged them were excessively high as com pared with the rates of city residents. The Commission made a survey of all the properties. Rome Placarded With Mourning Posters and Son of Garibaldi la Wildly Cheered Arrests Made ; Several Hurt. ROME, Dec. 20. The troops and po lice in many places in Italy were called on today to keep down riotous demon strations against Austria at the cele bration of the anniversary of the death of Oberdank, who organized the unsuc cessful plot to assassinate Emperor Francis Joseph in Trieste in 1882 and was put to death for it. During the night of Saturday, al though they had been forbidden by the authorities so to do, parties to the movement placarded - the streets with posters referring to Oberdank and also distributed leaflets, some of them with mourning borders, bearing the inscrip tion, "Remember the sacrifice of Oberdank." Several were arrested and some demonstrators were slightly in jured in clashes with the police. - Garibaldi's Son Cheered. ' The Republican Deputy, Cola Anni, delivered a speech to a sympathetic audience, which frequently broke Into applause as the speaker recited the history of the Triestan martyr and his ideals, and declared it was necessary soon to realize them. The demonstra tion reached its climax when Ricciotti Garibaldi,' son of the Italian patriot, Oaribaldi, leaning on his. crutches, arose and said: . 'A voice Is still ringing from Caprera Island, where my father is buried. It asks for acts, not words." As uaribaidl ceasesed there was a tremendous outburst of applause and cries of "Long live Italy!" "Long Live Trent!" and "Long live Trieste!" Police and Troops on Guard. Several crowds of the demonstrators attempted to invade the center of the city, but were prevented from doing so by the police and troops. Tho Republican Association held a procession and later unveiled a marble tablet in the Republican Club in honor of Oberdank. At Ancona and Genoa demonstrations were suppressed by the police, while the town was strongly occupied by troops. Lord of Admiralty Views Bombard ment of Coast Towns as Evidence That Enemy's Hatred Passes Frontiers of Reason. LONDON, Dec. 20. Winston Spencer Churchill, First Lord of- the Admiralty, in a letter to the Mayor of Scarborough, in which he expresses the sympathy of himself and of the navy over the losses sustained through - the German bom bardment of Scarborough and disap pointment over the escape of the Ger man warships, says: We await with patience the oppor tunity that will surely come. But, viewed in its larger aspect, the incident s one of the mostinstructive that has happened in the war. Nothing proves more plainly the, effectiveness of the British naval pressure than the frenzy of hatred aroused against us in the breasts of the enemy. Vision. Clouded by Hatred. 'This hatred already has passed the frontiers of reason. It clouds their vision; it darkens their counsels and it convulses their movements. We see a nation of military calculators throwing calculation to the winds; of strategists who have lost their sense of propor tion; of 'schemers who have ceased to balance loss and gain. "Practically the whole of fast cruiser force of the German navy, including some great ships that are vital to their fleet and utterly irreplaceable, have been risked for the passing pleasure of kill ing as many English people as possiDie, irrespective of sex, age or condition, in the limited time available. "Baby Killing" Called Dishonor. "To this act of military and political folly they were impelled by violence of feeling which could find no other vent. This is satisfactory and should confirm us In our course. Their hate is a measure of their fear. Its sense less expression is proof of their impo tence and the seal of their dishonor. Whatever feats of arms the German navy may hereafter perform, the stigma of baby-killers of Scarborough win brand Its officers and men while sailors sail the seas." UTILITIES MAY MERGE SOLUTION OF HOOD RIVER TANGLE PROPOSED. RATE NATIVE OF OREGON DIES Mrs. Victoria Hobbs Passes at Glen dale at Age of 6 6 Years. GLENDALE, Or.Dec 20. (Special.) Mrs. Victoria Hobbs, wife of John Hobbs, died Friday at this place, aged 66 years. She was the daughter of Ga briel and Berbena Hardlson, early Ore gon settlers. Mrs. Hobbs was ', the fourth white child born In Oregon. She was mar ried in 1867 to John Hobbs and has re sided continuously In this Valley for 32 years. "She is survived by three sons and four daughters Charlie and Mollie Hobbs and Mrs. R. M. Moore, of Glen- dale; Mrs. Dessie White, of Frinevllle; George and Lee, of Powells Butte, and jars, itue vandevert, of Eugene. Mrs. Hobbs was an active member of the Presbyterian- Church, from which place the funeral was held today at 2 P. M. WATER RATE IS ACCEPTED Milwaukie Likely to Have Snlts If Bull Run Supply Is TTsed. MILWAUKIE, Or.. Dec 20. (Spe cial.) The Milwaukie Council decided to accept Portland's offer to furnish water through a meter to Milwaukie, and approved the plans prepared by City Engineer J. W. Morris and the Council committee. It is announced that the Council will meet again De cember 28, when bids to lay the supply mains to connect with the Portland water system will be received. Owners of the Johnson and the Mil waukie Water Company plants are pre paring to.protect their property Inter ests and will bring suit to restrain the city from building its plant unless the city .buys their properties. The two plants are valued at $22,000. Railroad Commission Thinks Excessive Operating Cost Can Be Done Away With. HOOD RIVER, Or, Dec 20. (Spe cial.) The result of the hearing of the State Railway Commission for the ad justment of local electric light rates, which .was concluded last night, judg ing from a recommendation of Commis sioner Aitchison, which Attorney Laing, 'representing the companies, said would be accepted, will be a consolidation of the concerns. The Hood River 'Gas & Electric Company was formed three years ago as a subsidiary of the Pacific Power Sc. Light Company to compete with the Hydro-Electric Company. The Pacific Power & Light Company since has secured control of the competing utility, and the consolidation is recom mended in order to eliminate numerous duplicated costs of operation. While the testimony, almost wholly of a technical nature, was concluded yesterday, the case has not been closed. The companies will be allowed to sub- PIONEER OF YAMHILL DIES 3Irs. Zerelda Carpenter Stone Passes at Age of 9 2" Years. SHERIDAN, Or., Dec. 20. (Special.) w ltn the death of Mrs. Zerelda Carpen ter Stone at her home In Buell Thurs day, one or Yamhill's oldest pioneers passed. She crossed the plains in the early '60s. Mrs. Stone was born in Cass"County, Missouri, and was 92 years old. After crossing the plains In 1858 Mrs. Stone settled with her parents on the place where she has always lived, near Buell. "Mother" Stone had given a home and a mother's care to no less than 11 orphans. The funeral was held at the home near Buell and Interment was made in the Pleasant Hill Cemetery. Rev. Dow- ard conducting the services. OREGON CITY TO GET GAS Service by Clackamas Company to Start by January 1. OREGON CITY, Or.. Ded20. (Spe cial.) Gas service will be established In Oregon City before the end of the year by the Clackamas County Gas Company, a subsidiary of the Portland Gas & Coke Company. An extension on the franchise of the company, which was secured last Sum mer, will expire In a few days unless service is established before the first of the year. Mains are laid through out the residence districts but not along Main street. Gas will be secured frpm the Llnnton plant of the Portland Gas & Coke Com pany. The Sellwood main is tapped near the Multnomah-Clackamas line. t - To Cure A Cold in One Day. Tako LAXATIVE BUOMO QUININE Tablets ErruggiHts refund nvony if it fails to cure. K. W. UKOVE'S signature la oateach box. 25c FOREFATHERS' DAY KEPT DR. ELIOT SPEAKS ON INCLUSIVE. NESS OB" CHRIST-LIKE SPIRIT. The Real Sale of the Season Any young man's or man's Suit, O'coat or Balmacaan in our ex clusive store at $ C65 These garments sold formerly up to $35.00 Blues Included 285 MORRISON ST. Bet. 4th and 5th Rev. Earl M. Wilbur, President of Berkeley School, Heard at the . First Unitarian Church. "Forefathers Day" was celebrated yesterday in the First Unitarian Church with Christmas carols sung in the morning by the Sunday school chil dren; by an inspiring and helpful ser mon at the 11 o clock service by the Key. T. L. Eliot, minister emeritus of the church, and by an evening service at which the Kev. Earl M. Wilbur, president of the Unitarian School tor the Ministry, , af Berkeley, spoae on The Pilgrim Spirit of the Twentieth Century." . Garlands of greenery and holly as decorations, with a cantata by the 'choir, added to the effect of the uay's services. Dr. Eliot took as his theme "Tho In- clusiveness of Christ-like Service." His text was, "All things are yours and ye are Christ's and Christ is God's." He said: "We may v feel, at this time in the world's history especially, tue need of a spirit of inclusive service. embodied in the words, 'the love of God, and the love of man.' to lilt us Into new and deeper interpretation of that Savior. The Christmastime should lift us up as upon wings, where we may see more clearly and serve more com pletely the highest spiritual- Interest of others in our homes and vocations, in our city, state, Nation and the world. The Christ spirit alone will suffice to heal the hurts of war and make an everlasting peace.". "Forefathers Day" was celebrated originally in New England by the early Congregationalists. and afterward by the Unitarians, and the custom of Us observance is kept up in some parts of the country. The Pilgrim fathers orig inated the celebration of '.Forethers' Day," which was the name they Applied to December 21. paid a tribute to Arthur Hubbard, Dep uty Game Warden, who was shot and killed by Loris Martin while In the performance of duty on Train Creek, in Jackson Comity. "If I had been asked to appoint two deputy game wardens in this state Ar thur Hubbard would have been one of them," 'said Mr. Brown. "He was effi cient as an officer, fearless in duty and was honest. I have had consider able to do with game wardens during my 18 years experience as District At torney and I always considered Mr. Hubbard a person of unusual official ability. In his death Oregon has lost one of its most efficient law en forcers." HEALING POWER DISCUSSED Rev. Rev. C. C. Rarlck Says Chris, tian Science Gets Undue Credit. "Christianity and Christian Science" was the sermon theme last night in the Central Methodist Churcn. Rev. C. C. Rarlck preaching. "As a method of healing, what is Christian Science? No person was ever yet cured of any real disease by the theory of Christian Science," said Mr. Rarlck. "Some persons are cured while under treatment by Christian Scien tists, but it was not the principles of Christian Science that did it. It was accomplished by suggestion and the in fluence of the mind over the body. This is a method of healing which has been practiced for ages and is practiced to day by every physician who waits upon the sick. There are many diseases which run their course. They are self limited. When the course is run the tendency is toward recovery. The physician does not profess to cure these diseases; he simply watches and guards against complications. Christian Science gets the credit for curing many cases when simply fresh air and nature did the work. The doctors tell us that four of the best medUUnes a man can take are fresh air, sunshine, food and freedom from care. "There is not a single truth in Chris tian Science that is not taught in every pulpit in the city. There is not a sin gle valuable suggestion concerning dis ease and Its cure that is not practiced by every physician in the city. And there are truths and suggestions taught and practiced by both the clergy and physicians which Christian Science never thought of." KINGS AGREE ON PLAN CO-OPERATION OP SCANDINAVIAN NATIONS IS ASSURED. Official Statement Says MoaarchaAre in Accord on Special Q.ncationa Raised by War. STOCKHOLM, via London. Dec. 20. JCing Christian, of Denmark; King uustave, oi Sweden, ana King iiaaKon, of Norway, who, with their foreign ministers, met in conference at Malmoe on Friday and Saturday to formulate a plan to combine their respective in terests during the war, reached an agreement on the special questions raised. The statement is made in an official communication, in. substance as follows:' "The meeting of the three monarchs was inaugurated Friday with a speech y King Gustave, who alluded to the unanimous desire of the kingdoms of the North to preserve their neutrality and pointed to the desirability of lim ited co-operation between the king doms as a safeguard to their common interests. Kings Haakon and Christian replied, expressing their hope that the conference would have good and happy results for the three peoples. "The 'deliberations consolidated the good relations among the three king doms and resulted in an agreement to pursue the co-operation so happily be gun and to arrange, when circum stances should occur, for fresh meet ings between representatives of the three governments." SLAIN WARDEN. EULOGIZED Attorney-General-Elect Brown Has High Praise for Hubbard. ROSEBURG, Or., Dec. 20. (Speciel.) -Attorney-General-elect Brown today BUNDLE DAY HERE AGAIN Streetcar Conductors Will Assist in Getting Goods to Sluts. This is Bundle day again. It is Bundle day for the benefit of the poor children of the city whom the Muts are seeking to provide with a bit of happiness on Christmas. It is Bundle day with the 3000 em ployes of the Portland Railway, Light ek Power Company as donors of the bundles, and the gifts will range all the way from candy canes to a ton of coal, as the spirit or ability of the donor may dictate. All streetcar conductors are instructed to carry today any bundle given them for the Muts, and not only will the employes of the company participate in he Bundle day, but any citizen of r - Dr. f AUL J. lA lhb TISTtt iN POBI'MD. t i 4 fir :- We Have Cut Prices We wiii rou .eoia on every dollar on the best dental work made by human bands and. without pain. . . Our offer is for you ' to go to any dental office and get prices, then come to us and we will show you how yon save a dollar and we make a dollar on your dental work. Gold Crowna .."............ft 4.00 BrldKcwsrk & 4.00 FHlinKa LOO Piatea . 810.00 All Work Guaranteed 15 Year. Paul C. Yates E&t5" blltb aad Morrison. Opposite Post-vfflccw BUY H azelivood . Candy- FOR Christmas Gifts AND ALSO A-PLENTY FOR THE DEAR ONES AT HOME We Have for the Grown-XJps 50c to $1,00 per Pound Chocolate Creams, assorted flavors Creamy Bon Bons, assorted flavors Glace Fruit, 1 to 5-lb. boxes Chocolate-Dipped Nuts Salted Nuts And many other extra good candies packed in plain or fancy boxes We Have for the Children 20c to 40c per Pound Old-Fashioned Stick Candy. Christmas Mixed Candy Candy Wheels, assorted flavors French Mixed Candy Cream Wafers When you give the children Hazelwood Candy you are giving them PURE candy A FEW IMPORTANT FACTS Hazelwood Candy is made right Hazelwood Candy is made in Oregon Hazelwood Candy is worth its face value to the person who receives it Hazelwood Candy is a gift that is never exchanged Hazelwood Candy carries more joy at Christmas time than any other gift of the same value v We Guarantee to Please You THE HAZELWOOD Confectionery and Restaurant WASHINGTON AT TENTH Portland who feels inclined may make up a bundle to bring. Joy to some poor youngster and hand it to some of the streetcar conductors with instructions to carry it to the Muts. CHILDREN TO HELP NEEDY Sellwood Sunday School to Send Gifts to Cbristmasless. The children of the Sellwood Metho dist Episcopal Church voted yesterday not to give Christmas presents to each other. They will use the money to pro vide clothing and food for needy fam- tiles in "Sellwood. There are 850 chil dren in the Sunday school, and they expect to do considerable good. The Sunday school will have a Christ mas entertainment, however, Wednes day afternoon under the direction of Dr. J. W. Lahman. superintendent, and Mrs. J. Mills, primary superintendent. Wiiilock Town Hall. Ready. CENTRALIA, Wash.. Dec 20. (Spe cial.) The finishing touches were put on the new Town Hall in Wlnlock yes terday and" It will be occupied the first of the week. The new structure con tains council rooms, quarters for the Fire Department and Jail. New England Mutual Life Insurance Co. The Company Your "Widow Can Depend On Sound Progressive Constructive. Horace TVTecklem (general Agent North XYA Western Bank Bldg. MAKE th 25th Pay of DECEMBER a red-letter day in YOUR calendar. GIVE HER the children or yourself a pass book, showing a deposit in our Savings De partment. That will be a present worth having a present of lasting value a pres ent that induces good habits and establishes independence. Deposits can be made here with any sum "you choose from one dollar up. They are always at your disposal and they earn interest, which is compounded semi-annually. United States National Bank Third and Oak Streets, Portland, Oregon