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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Aug. 23, 1915)
MORTONCr OTtEGOXTAy. MONDAY, AUGUST 23, 1915.
STAPLES ARE SHORT
Officer cf Cotusa Comments
on Australian Conditions.
WHEAT AND BUTTER TAKEN
YWtor Hel.a Tell of Experience
on Ontwaurd-Boood Trip, lo
dadlnf TUnner With Lord
Mayor of Sydney.
Australia U suK.Hn. from rtoi t
ae et tupU prod a . accord la to a
Victor Hei.aa. third oincr of '
...am.h.p Co.u... which was
land tn Jun b-fore oln tao An-
! . .,- u.nu forwarded cup-
,7. from Sydney rat-m. wh.ch suo-
nrnvad at Sdny Aoru.t "
A . . rnRtlBUlBff A.d
;;:it w the demand for 'he
?Bt lara. rwtaU ror. -aot-d Jo
u.:has th enUre shipment at
"c" .... ..., there
derrick form, but
"would, no douou
seliere the pre.ent .b.rtace. V"
' . i.,,. consianment of wheal.
Which.' accord.n, to th. Sydney
WIS " . .ha.
srms Kluc.tem and Wall. Walla.
Th. p-p-rs called tinUon to the
waste caused by some of th
fcure'n. tn a m.nn.r which su(...tl
a real shorta. of that raln-
The Colusa will load mineral, for
Mobile. Ala. and wool for Boston. On
fcer last to the tttalea. th. Co-
fu carried th. l-rt '''n
if wool sr.r dp.tcbed on einle
"U.'l from Au.trulla to this country.
Coins al.o had the
(be am. t.y.t. of beln th first
ste.m.h.p to 1- Austral; direct for
the fsnam CanaL
Mr. Helitas said ths Usl oy was
fuu of e,p.rt.ne. l arrlm In
ltdn.y the officer, of the -J'P
Inrit.d to din with the Lord "
Vhll croln th. equator th nnclent
...me Neoton Bd BIS
, Tha rarr Burwva
i.riTld. b..rd h. rh.p and In.tl.t.
"i n.orhisticated sailors was r
throo- was fitted up and Neptune
.ppear-4 tn si' with mermaids and
...--j.... a lre lank had beea
....t f,!led with brtne.
W.taa. and olhe, nnltl.tf salts were
toe. shred wxh r"r '' ''''
Ion, their bod ee wer. f10'"1
then they wer. thrown Into th. tank
I, ?h. c'mmanl cf Kln Neptune t
"not. th. paint. After they bad don.
to the sati.factlon of bis majesty.
Neptun. baJ. farew.ll and disappeared
r.r the sMe of the ship am.d the
,.:, of all who had known biro on
httohilh aiiAix n-rrr big
TrsM-W of I . Ton Ajrrrcirate to
Arrlre for Crjoc.
K-rernl ress.ta chartered for Brain
loa.n are eP:t-d to arrlre In Port
land barter early la September tot.he
.... .,e rerieus porta. Thos due
at that tim tnrlud .rJ steamer
and sallina e,..ls of an a.(r.ale
tonnace of ..
n. of th first resells v "
-- - n.4..i. .rMmer Snowdoolan. or
l.i tne. wfil-n is under charter to
Kerr liifford I'nmpenr. for rraln
loa unc is eepe.-ted to arrlre n Port
land early in .-Ptem.r. T.i. British
.. n.utDiL :si tons, for M.
II l(ou,er. and Readme. : Ions, for
sitraux A Comciar. ar du to arrlr
v ' 4n inr.mrer.
Anions" the eatlinc ressels due her.
e ukine on arm n th. first half of
k- ... , Nur, er lan bark Trt-
i l iom. en rout, from Port
ii. nri(i,h hark KUlamey,
J 154 tone, out from M nterldo; and
h. Vnrweelan ship Nordeee. lilJ tons.
from Jantoe. The first lo ressels are
,.d.i charter to M. H. Houssr and the
iip.,!im A Comrsnr.
Tti. British steamer Hiabbury.
tons. whl. h Is now o.lm raln at
(-.mnoev dock for Ksrr. Gifford
fompanr. probtr will set awar br
th. mMdle of IMs week for ths fnlled
Australia w 1 . II ..vv
Tj frenrh barha Noeml nnd I Pt
l'er ar both In ta harbor for rain
smrmenta. bit ne ther r becun to
load. 'otr are under charter to Bal
four. Guthrie Company.
b Msif ll". srTte-t la
' ... ...hdf ,.icril. frism see Frea
,, ,.' f.,r r.'ff-. end A.toria an4 la
.i.ie .n.nrirenl f r tlie etesdard Aroer-
V. i. .a k". i't the dredc.
. asa.ee trom fas i"
M:.i.e .f th- Celu-oM. Rler. f 'S
: . . ..... i, wilt srobaMe ms
a.iena IB.. Burn Is. TM
l. . ta. enters I St As:.rl. Th.
rm.Mr Ati.e ee e.. resorte
1 . . . .ff tie -e
.I. ... no,e .f B. -r ra-
etfi l.ne. m arrl.e here
. ... . . . I. nn4er.itns
ri. ... sreb.tilr will
W asle te m.S. -r ct reefer trip sens
rliert.r. ef s''la-err, Ins
. . ...v..i were: e
" ..... . . r.. jte te tin
,0l .its 'a t"'l t'ie e l0 . Tnis
i. I. ef t'e! ea route raia
ieme dele last Tear.
STAR LURES FROM KITCHEN
Woman Tire of Hork, at Home and
Heek Petertlr fine.
rniVTPV. fa- Aue DecUrtnc
that she was tired of the drudcery of
th. klteSen. Mi taier l.eoe . Bow
man. St years old. of Tanriile. made
arpil.-aticn In tae places here recently
.irk as a letetlTe.
Weartn rurhber-eoleU canraa ahoes
. n.4 . .malt -detect'ee"" kadse under
i. nal mt her hite coat. M ee Bow-
Brst r.:eJ oa F. H- -aoeffcL
r-.'.ef tree ! aenl of the Lackawanna
u. to arr r for work. Told tha
... Setev-ttee et.1 filled. M;e
t.mm.tL next csl.ed oa the super in
ter.dent of po'l--- t"" a f"'- ml
asaia mt d.arpoir tmert. Th. years
woman then announced that ah wou i
call on orirat. asenciea tr !
tne Australian aoYnromenL
ta. butter, for a clippin elM
Mr. Hoik too AUoroey-OonsraL ressot-
. , hum bales
was a cnnio"" h,
Bay for th state orml. wbl
' ,..i.t and don op
.nd ts lar.est of the ra n rieet
Me tor earlr loa-Hn. U th Nor
we.lan steamer S'rlf.1. now en rout,
to this port from ilanil under charter
BU'C0 MEN ARE TRICKED
Ponor Lead -PhysW-lan" Into Trap
Wbcrw Detertlso Captnrr.
FHruLrrtpmA, i. tw
we., dr.se eed Btea. U t -
11. vs. baro fllm-wmr many Gox
meatown phystctara, woro arrested re
cently Aftor sralkln Into a trap laid
for there by two doctors. The extent of
ttelr ailes.d operations will bo learned
at a neaxtn before Maslatrote Pan
nock ta in Oormantown pollc ta
Th. physicians who raptured the
pari are tr. Joseph Flettas.
Umu street, and Dr. J. Paul Austin.
SlS Austin street. The prisoners ara
Kobart Wilkinson. 1111
street, and Cbarlaa M. CollfcJay.
A few day aco. accordln to Dr.
FleStaa. Coliday approached fclra. rep
reseatln hlmaalf aa Dr. Omham. and
tnliuat to a prominent physician,
wnem b mentioned by nana. Ho also
spoke of a series of medical lectures tn
pamphlet form which th Americas
Medical Society, he said. M publish
In. Th Best day Wilkinson, repre
sentee himself s an agent, sold Dr.
Fleltaa some of the lectures without
dellTerin the pamphlet.
Word of a -flim-flam" asm reachln
the physician, he consulted with Dr.
Aiiatin. with the result that when "Dr
nr.Ram- called on Dr. Austin later
the latter telephoned to his friend and
is, held th spurious physician
until Detectire Cory arriTed. Wilkin
son was captured later In ernonrar
nearby, w here he was waiting".
MRS. YOUNG IS BLAMED
CHICAGO SCHOOt, EXECCT1TE HELD
RKFO9IBLB rOR LAI1TT.
Beornantsattoa of Syatea to Otr e-
ratary Dtrectloa Ore All fW.
chase I ri spaaed.
CHICAGO. Auc 1. One red morocco
kinnd com of th roles of th Board
of Education was pulled from a drawer
la th desk of President Mltcbael J.
Cotlia recently. It w dusted oft and
rather closely perused.
Tliere also was on framed blue print
chart. Indicating th Una of authority
of the official of th Board, which was
taken from Ita hook in th outer office
of th president and deposited, together
with a lara. amount of ancient dust,
upon th president desk. Mr. Collins,
iii.rn. Ansrua Hot bbannoa and aar.
era! members of th. board irathered
clos.lr around It and followed the
mall whit line.
Then eereral of th members ue
elded that enforcement of present rules
iwi not reorganisation 1 what the
ll... r.l n(l.
It I likely that aomeon will read
th rule, which proeldea for exactly
the same sort of reorganisation that
Halph C. otla adrocated befor the
eenatortal Inreatlkattnic commute and
rhich ha has sine promised to being
befor. th. Board. Th. rul. prortdea
for a bu-lness .secutlra. who hall hare
Jurisdiction and control orer all ex
penditures except th laiarle of teach
ur mis wants one nan as the undis
puted bu.inens head of the board. Lwls
E. LartoD IS tais man. .cvvioini ,w
rule, but th Board does not enforce
tom of th. members bold Buperin
i..,i.ni Ella Flssa Touna- aa the chief
offender In th matter. Following la the
rule tn part:
"Section C A. power and duties The
secretary of the Board shall have Ju
risdiction, direction and control of all
departments of the board other than
that of education. He shall hare sen
oral chars direction and control of all
expenditure of money (other than the
payment of th salaries of the teach-
ins: force!, me inresimenc oi an p
..!. r ftie Bublle school system and all
other matters, exceptlnsr questions of
leacblns;. courses of study or superrl
elon of the teach Insr fore, as provided
In section 7 of the rules irovernins: in.
Juration droartment. and he shall
make written recommendation to th
Hoard and cootmilteee tnereol in reier
ence to alt said matter. And be It
-Kc.olred. That In the erent there I
a conflict between this and other axial.
in rules or tn ooaro. mi section euau
Vo ir commute further recommends
that the secretary of the Board hall
be rstd at th rat of 110 0 per an
Th rul was adopted Decemoer i
Il. following the report of a specie
committee on business administration.
It aa. alaned by Modle J. t-pleseL Jo
seph Iwwney and Frsnk L Bennett and
was adopted unanimously.
At present Mr. laraon doe not has
"asneral chirr, direction and control
of all expendllurca other than the pay
ment of salaries on the teacnins; force.
Mrs. Touna. It Is said, does not consul
him If a piano or es store la seeded.
fhe makes her report direct to the
school manassment committee.
Mver J. Klein, attorney for th Sen
ate committee lnret!atln the Board
learned that Ida L. Fursman. presldenl
of the critcao Teachers" Federation.
and Frances K. Harden, secretary. left
town after the committee started to In
resttaate the connection of the fcdera
tlon with the School Board.
bubpenaa had been Issued for them
to appear before the committee, to
gether with an order for all the boobs.
records and rules or tn ieaerauon.
WOMEN AID NAVY LEAGUE
Auxiliary Section Form fo Aslt la
Carrying- Ont Flajis-
ST. LOUIS. Aur. 1. Albsrt Bond
Ijimbert. who Is orcantsin th Mis
souri dlrlelon of the new Nary L-eague,
was notlflej from Washington that the
lee cue Is to hare a women section.
"Oreat thlnas will be Bccomplti"he
by the women's section." said Lambert,
lie said h had not been authorised
to make anr aoootntmenta or call
meetinc of the women who might b
Interested In the work. That, he said.
would be handled from Washington.
It ts almoit certain, he said, that th
wires of the' naval reserre nd for
mar naral officers will b th first
considered for membership. He thought
also that some of t.'ie club and society
women would take ud the work.
lambert also was notified that th
JefTerson City Commercial Club had
Indorsed the Nary League and had
adopted resolution for a bigger Narr,
Among the founders of th women
section of th. Nsvr League are: Mri
Oeorge Dewey. Mrs. Medill MrCormlck.
Christine and Mirlanne Btddle. Ml
Mabel Boardman and Mrs. Molly
"PATRIOT" SELLS CHILD
Italian Arretted for Trying- to Ral!e
Funds to Return to Fight.
TBTTVTON. Aug. 1$. Tony Sebano.
of Whlttaker avenue, stirred by
patriotism oxer bis country being at
ar and wanting 10 becox a soldier,
sod a womsa and child for 12 and
threw la the household furnltur for
.xxl measure. When Tny Beard his
country needed men he talked th. mat
ter orer with Augustln Arise. I. a
boarder, and offered to sell him his
housekeeper and ci.ild aad donate t.".e
furniture, eo be could start hous.ke.p
lag with but little expense. Augustine
went to a trunk In hi room aad
In the meantime th. pollc learned
that th woman aad boarder wer liv
ing ss man aad w.f. and placed Ibem
under arrest. Judge Near fined the
man and woman tie each. AuguMtae's
experience haa so fsr cost him fit. but
Be fees a furalshed hoa. la Start
b.uae keep leg with.
EXCHANGE IS PUZZLE
Bankers Say Sterling May De
cline to $4.50.
FOREIGN SUPPORT LACKING
Csoal Prop of Maturins rinanc)
BUI Sot rtorthoornlnf Thla Sea
son, Wille Draft Are Ont
Against Fall Shipment.
Ha th dcllB of sterling- rechd
Its llmltT . .
m.., i. the auataon that Banners
d..,i.a well aa those in Pum
f. .e ,h. .ounti-r are easing
of th gradual drop experienced M
English xcBng in i
-From th way sterling ha ben
falling of late It I -,dnt- ,.'
Wall Street Journal, "th titn has
com which student of th Interna
tional money nltuation '
dieting for months past. Th -lef'ln
n sterling until receniij---
i. . A kerauaa th morement
was gradual It occaaloned lltU mbar-
" . k..w.i.. in their dealings
with their customer. But within the
paat few daya the market could scare-
r .. . nna Pi rktlf ta an
y l rliea upon - -
oinor, wo in.. w . .
chang became out of th wwlhan. In
other word, th bottom haa dropped
out of the exchange maraei.
ae-T-re. I e Haijy Ptk gefT. .nag taw
moralliid atato Just manifesting- Itself
at thla time? Th recent goiu --
i. .kinm.nf from Enaland Is giren
a th caua. on th ground that the
amounts lnrolred wer uiierix "--
h.i, ,ha exchange situation
But outside of the sentimental effect.
j... . i4i..nnnlntment that th STOIC
consignment did not amount to th.
large proportions at nrei ii-wi..
.. ..e. ..... th. nrecipltate decline In
exchange would have com about at
this time Irrespective oi tno a.u
, r r Mor.an A Co. Whatever
may be said" about the purpose of the
gold Import ano in wunur.,.i v. .-k-,n
th. exchanae market, which the
vi.. n firm Is credited with having
e.m tin. ta time, the slgnlfl-
ranee of the securltle sent orer by the
British government cannot no un
locked. Howerer small, this represent
ed some measure of ultimate support to
th market. For exchange w
i i. ..n.,tinn.llr In the face of
hi. transaction only goea to show that
other Influences wer at worg.
Xnr Order G Farward.
-Vnr m. thins- th large orders for
munitions, etc.. are now beginning to
go forward. Heretofor they har only
Mrurad to a small extern. , un,
i. the forward movement or in crops.
August generally marks the beginning
of the croo moving period. It Is true
th cotton crop doe not begin to move
befor September, but contracts are
now being entered Into for the delivery
.e ,ut th. custom ha always
been to contract for the sal of drafts
several weeks ahead- Taking the grain
movement and th export of cotton the
offering of excheng on their account
during th remainder of the year usual
i, reaches enormous figures.
"But In normal times th effect npon
the exchange market la scarcely notice
able Th. decline In rate. If any. Ii
e-rarinal. There har. been times even
when an upward movement of exchange
has featured tn rail maraet. v
takea place to cause this stabilising of
It la dua to the running on oi nnance
bill. Am.rlcan bankers wer in tne
habit of drawing long bills, generally
l days, with renewals, against London
in th. lat. Spring and eariy Dummer.
th proceeds of which they Invested
here In th money market. In fleet
ihua hills wer. short sales. Inasmuch
a th American banker purposed to
cover them with lower exchange rates
during the export movement later on.
Th, hill, aenerallr began to fall due at
thla time and It was tneir running on
that resulted tn stabilising the ex
change market. The amount of nnance
bills so drswn varied from su.uvu.uvv
to I150.0n0.000. It Is estimated, depend.
Ing npon financial and other conditions.
Old Forma Changing.
-Now. th finance bill 1 prectleally
non-existing In the present exchang
marker. London hastily eaneo in ne
current loan at this time last year.
which was largely responsible for th
"debacle" In exchange, when th rate
went to 17 for the pound sterling, ana
sine then the course of events, either
In this market or In Europe, has not
warranted the application lor lempo
r.rr loana br American banker. Th
full effect of the export movement of
our crop upon exchange Is therefor
beginning to Be maniresieo now.
Against the much restricted foreign de
mand for our cotton this year may d
set the Increased buying of grain. Th
sunolr of exchange on account of tb
crops may thus be about the same as In
other years. Hot tn usual prop to mi
exchange nisrket.ln tne snap or ma
turlng nnance num. missing.
"And this Is what bankers mean
whan they said some months ago tbat
ther would not be surprised to eee
sterling s low s 14 Si."
RAILROAD HOPES HIGHER
GKAJX CROP ADJACENT TO STORTH
ERV PACIFIC BEATS 114.
officiate Ala Kxseet slower More.
seat. Preventing; Loan, aad
Leaser Haul Predicted.
J. M. Hannaford. president of the
Northern Pacific, who was In Portland
on an Inspection trip last weea, wa
more than pleased with the crop out
i..nv in the Northwest and In all to
territorr tributary to th Northern
It Is estimated In some ources that
the territory tributary to in. .-,orin
ern I'acifio and ita branches may ha
vest lie ner cent of the grain crop
or lust vear. This Is (be time of yea
when even a few days make a great
difference In the stand 01 grain, auu
a week or 10 days of perfect ripening
weather, such as tne last iew oar
i. .ue. to result in a wonderful gm
onn.r. this FalL according to the
It la expected that the movemen
of grain to market will be later aa w
aa Blower than usuaL The farmer
received too prices for their last year'
crcp, squared their current obligation!,
and are under no pressure to sell grain
th.s year. If the big yield of grain
softens prices, as many b.aeve It will,
tbe farmers will hold their crops in
anticipation of better prices later.
Railroad men say that they are full of
notions ss to whst ihey ebould receive,
and will show no disposition to dump
grain on the market except at excel
This will tend to retard the move
ment f grain from th Nortbweat
territory, and also protract th ship
ping period, which all means in the
long run less expense to the railroads,
the avotdanc of congestion and bigger
oraflt on the grain tonnage. 11
la not surprising to raliroad men thaiunderwrliers. Adv.
July and August ar dull months this
yer from a traffic standpoint. Ordi
narily in th Northwest ther 1 ome
grain and livastocg irom i"
Ing year still going out of th country
' ..w. v, this rear
hlpment were practically all cleaned
. Tk.i thia dullness will
be fully made up later la confidently
"Inother factor that may help the
road on eastbound traffic la th ab-
aormal ocean tonnage wiwi,
'aclflc Northwest tout. " - -t
a premium. Rates are high, and the
reason Is the rush of war munitions
to Russia. Ordinarily a great portion
of the grain grown west of the Rockies
goes from the Pacific Northwest by
i.tA of rs.lL This year, with
the supply of vessels apparently far
under the demand, in. i
obtain a larger proportion of th ton
nag than usual. -
r-a.A.iA v-js Tne rsautuaa j .uxa vi m-
,. so-s-if to m-ntiement Is confident
ITiTCWT OF FEDERAL RE
StuRVK BANK AT SAX
FRANCISCO. Aug. 21.
(Special.) For ita fortieth busi
ness week, ended August ti. the
Federal Reserve Bank of San
Francisco report as follows:
Gold coin and gold cer-
tificates In vaults... 7.150.000
In gold settlement fund 9S,000
In gold redempt'n fund 21.000
Legal tender notes, sil
Total reserve f I.ITJ.OOO
Commercial paper, re
Bank acceptance .... 851.000
United State bonds.. 1.001.000
Municipal warrants ... 1.131,000
Federal reserre notea. 1.91S.000
All other resources. ... 2,096,00)
Total resources ..... ,11.441,000
Capital paid In.... 1 1.931.000
Deposits, net 13,611,000
Total liabilities ....,16.442.000
of a substantia, betterment in net as
well as gross business tnis rail, m
for the last fiscal year. Northern pa
cific earned a surplus above dividends
of approximately ll.auu.vvu or somo
ihinr better than TA per cent on the
1248 000.000 stock outstanding. In the
year ended June 10, 1914. the surplus
after dividends was ei.sia.uux.
REDISCOUNT RULE IS MADE
Reserve Board Opposed to Non-Mem
ber Banks Benefiting-.
An Informal ruling by th Federal
Reserve Board on the question of the
redlacounting with a Federal Reserve
bank of notes held by a bank not a
member of th system Is given in tne
August number of the Federal Reserve
Bulletin. The Boara noma mm.
Assuming that the psper offered By a
. 1 l- m.rilarnunt 1. elicible U9-
j . .. . H.!.tlnn. r.rrlbd hv tbe Board,
it would be necessary In each case for tUe
officer ot the Federal Reserve Bank to
determine wnetner or not tne pm,i,
b . i ...... , ... i. k. used fur the nur-
nn,. of mtklOf a loan to a nun-is.w..
bank. If the money thue borrowed U to
i i ,. . finn.yn.mb.r Dinx. re-oi.-
count .hould not be accepted without the
permission of tbe Federal Kesere. ".
w .v.. mh.r hind, a member bank haa
In' good fallh scqulied from a non-member
bank by re-Olscount notes which are eligible
under tne rejuiaiion. i , d-.i,
.. . . ,h. ir.der.1 Reserve Bank,
end such notes were held a pan ef the
eneta of the member bank, there would
,n k. Tin oblectlon to the Federal Ro-
rve Bulk's accepting, such re-dlecount
provided the orncers are .wih:ii
tra-iucilon Is a bona fide transection and
:... mw bank did not extend ac
commodation to the non-member bank with
Vl. r of re-Glcouniin noii -'" "
Ith the Tederal Reserve Bank
Thla is one of the cases which must be
1.....1. In tbe uflrnttni ana
cretlon of the Federal Reserve Bank offi
cers: and a determination must be reached
by them on tne i.cw n .......
BANK CLERKS DUE SOON
Delegates to Banking Institute Will
Hundreds of bank clerks and bank
officials from various parts oi me
will he In Portland this week
on their way home from the annual
convention of the American Institute
of Banking at San rrancisco.
Portland members of the organiza
tion are preparing to entertain them
v. .tomohll. trios and at social
It is probable that one or two eyc-
l.l train, will IBOTS tnrOUgn rori-
laad. stopping here long enougu w
permit the occupant to view the city
to best advantage.
Portland Is wen repreeenieu u
T II west, oi in laoo w
ti. Rank and una of th National
-i..-nr..irients is on of the local
,ti. eates. Others in attendance re
L. W. Decker, of the Northwestern
v.tun.i- k i. uraman. oi t"e
National; Helmer Pierce, or tne rirst
National; Floyd Warren, of the First
National: J- Kins uryon, oi i.
Tn.n.. rharies k. treason, oi tne m-
bernia 6avings Bang; a. . oawicii,
.fc. n.nk of California: Percy Caul-
field, of Oregon City, and others.
DINER EMPLOYES HEALTHY
Pennsylvania Koad Rigid Regard
Ins Servants Who Handle Food.
eh. .ffnrta of the Pennsylvania
Railroad to Insure that no person with
even a tendency toward a commun
icable disease shall have anything to
do with serving food on Its trains and
i. it. re.tauranta nave naa restinc
A quarterly report Just made to the
company of an examination made of
all tho Pullman employes who serve
4 a in buffet broiler Pullman cars on
th. PennEVlvanla Railroad, shows that
not a single one of the 5 employes
was found to have any trace of a com
The Pennsylvania Railroad, In Janu-
r, 1911, established a ruie to uvj
physical examination mad of all
dining car and restaurant empiuyc.
every three months. Later it was or
dered that these examinations should
be held every 10 days. Now th rule
Is to examine every one pt these em
ployes at least every 30 day.
TIMBER VALUATION LOWER
revr Changes Likely In Assessment
Roll of Shoshone County.
WALLACE. Idaho, Aug. 22. 8pe-
caL) The only changes yet made In
the valuations of property and real es
tate In Ehoshon County, as certified to
the State Board of Equalization by th
County Commissioners and Assessor
Herrtck, is a cut of S per cent in the
.... ...... menta of the county.
The reduction makes a difference of
$123 9$2.25. This leaves the timber val
uation for the present year for Sho
shone County at I2.450.JS2.7S. or 1410.
J1J better than last year.
LIFE INSURANCE MEN.
The announcement on page S of this
laaue Is of Interest to ambitious life
BANK LETTER BRIGHT
Definite Growth of Optimistc
REVIVAL IN STEEL IS CITED
Ability of United Stales to Meet
Foreign Obligation and De
cline of Sterling Exchange
Begarded as Factors.
strain of cynical optimism per.
vadea the current trade letter of the
-Wella-Fargo Nevada National Bank of
e. t.. ..i.n which lees an era of
continued and expanding prosperity aa
a result of European war oroera, cou
pled with th bountiful crops that now
ar being harvested In America.
"There ha been a aeiinne srowm
of optlmisUo sentiment within the past
month," says the letter, "and the whole
country Is feeling more cheerful than
It did concerning the crop ouUook. gen
eral trad conditions and th relations
of th United States toward the rest
of the world.
The improvement in the steel in
dustry has been quita remarkable, be
ing based, first, on direct foreign buy
ing and the Increase of war orders, and,
thnroueheoing Improvement In
the domestio inquiry, in, consequence
of the Increased orders from the rail
roads and other large users of steet
products. In certain branches of the
Industry tn p.emanu
tho supply,, so that large buyers are
ffering a premium ior quica "-
Thla betterment Pf conditions in
basic Industry has senuuiBiimii.7
helped other branches oi iraae. al
though there nas not oocu w k.--nounced
change in general business
conditions. This country la ami play
ing a prominent role as tne winer jur
th rest of the world. "
Exchang Rate Cited.
hi. .nit. (if the enormous liquidation
of American securities by foreign Hold
ers, the foreign exchanges are moving
continuously in favor or. in. umieu
States. The low record or several
weeks ago has been successively oro
ken, until now the current quotations
for exchange on - Europe. .have fallen
far below any precedent.
The situation is quite extraordinary
and offers striking contest with the
conditions existing one year ago. when
the European conflict had Just started
and the banking community was a
good deal disturbed about, the ability
of our municipalities to take up their
current indebtedness in foreign mar-
keti as It matured, me cnanges ol
the year have given the United States
the largest gold holdings in the world
more than $3.000,000.000 in addition
to enhancing the position or mis coun
try as the great merchant nation to
which most of the belligerent govern
ments and neutral countries must con
tinue to resort for many months to
come. The suggestive broadening of
the speculative Inquiry at jxew lorn,
therefore whatever Its excesses may be
.. reirarda the furious advances In
the price of the so-called "war shares."
mav be taken as indicative of under
lying confidence in this country's com
Extravagance Thought Curbed.
This belief haa Its basts, among
other things. In the fact that intrinsic
conditions are sound; that another year
of bountiful harvests may be counted
upon; that people are living on a less
extravagant scale than formerly ana
that they are Increasing tneir surplus
Within th last few months there
has been a well-directed movement by
both comorations and Individuals to
ward reducing expenses and cutting
operating costs. The average industrial
corporation would probably show today
the cleanest and most intelligent man
agement that has ever been conducted
for the benefit of shareholders. There
is also a well-grounded belief that the
attitude of the public toward the rail
roads and toward business Interests In
general ts less antagonistic than It has
been at any time for many years. This
has relieved the tension, and although
nubllo sentiment cannot always be ac
curately gauged, there can be no doubt
that the hardships ef the European wah
period have Impressed the public with
the necessities of dealing rainy witn
the railroads, with the Industrial cor
porations and with the other great
business enterprises oi tne country. -
Miners to Hold Big Jollification.
KELLOGG, Idaho, Aug. 22. (Spe
cial.) Yesterday was the first day of
the great annual miners' picnic, when
the large producing properties of this
region close for a general joiiincation
and get-together party. It Is estimated
tbat fully 1S09 miners are taking part.
The young thing who goes on parade
should consider the elrous, which aaves most
of the display tor tne regular iieriurmamjo.
A general banking business
Interest paid on time deposits.
Commercial Letter of Credit
Exchange? . London. England,
Bought and Sw.
Corner Second and Stark Sts.
F. C MALPAS, Manager.
Commerce Safe Deposit and
Mortgage Co. has for sale
a small amount of First
Mortgage Bonds, netting
Phone or call for details
regarding these high-class
securities before they're all
sold. Main 3067. 91 3d St.
Will Ps- A1! Yo" c"-
lOS STARK STREET. POKTLA.VD. OR.
" J. J. SUiUtXER, MS.
A JOINT ACCOUNT
Is a splendid convenience for hus
band and wife, or for any two mem
bers of a family. .
Either may draw checks and in
case of the death of one the sur
the account without
the expense and delay of having an
Call at this bank regarding such an account
The United States National Bank
Third and Oak Sts., Portland, Or. ,
Capital and Surplus - - - - 52,000,000.00
The First National Bank
OF PORTLAND, OREGON
of fere you excellent facilities, uniform 'f -courtesy,
careful, attentive service and r.
safety for your funds. : '
.We cordially invite your business. ... '
Capital and Surplus
THE BEST EVIDENCE OF OUR CONTIN
UAL AND RAPID GROWTH IS THE GREAT
NUMBER OF SATISFIED CUSTOMERS
WHO ARE DOING BUSINESS WITH US.
The Bank of Personal Service
The convenience, comfort, safety and welfare of our cus
tomers being of first consideration, we do not hesitate to
solicit your account, knowing the above service is bound
to result in pleasant and profitable banking relations.
We Pay 4 Per Cent on Savings Accounts
Merchants National Bank
Under Government Supervision
Founded 1886 Washington and Fourth Streets
THE BANK OF CALIFORNIA
of San Francisco. Founded 1864
Capital Paid in........ $8,500,000.00
Surplus and Undivided. Profits .$8,256,734.33
Commercial Banking. Savings Department
Third and Stark Streets
Fast. Luxurious. Twin Snips,
vi-t Tuesday. Thursday, Saturday for
Only 2 hours at sea Farea luolud. m.ala
and bertha Make early reservations, stroj.
train from North Bank depot 9:30 A. H.
Arrives Wed.. FrL. Sua. :W f. H.
NOBT11 BANK TICKET OFFICII
6th and HtarU Phones Bdwy. tip. A S671.
ECKEKA AND BAN FBA CISCO
S. S. KILBORN
SAILS TUESDAY, AUG. U, F. M.
NORTH PACIFIC STEAMSHIP CO.
112A 8(1 St.
Uain 1814. A 181
Foot N'orihrup SL
B dwy 6208. A b2
Freight and Paaaenr
STEAM tits TO THE DALLES
and Way Landless.
Leave furuauu dail at J A- M. except
Bundayaud Monday. Sunday excuralon
tu Cascade Locks leave 9 A- M.
Leaves roriiauu luesoaj, tnurxday aad
Sunday at s:3U A. la.
fcunday Cascade Locks Exenr-sioa $L
are to The Llalles and Return 93.
ALDLR-oT. OUtK, PORTLAND.
Vboaea Main !, A alii.
NEW ZEALAND AND SOUTH SEAS.
Regular, through Bailing for Jiydney vis
Tahiti and Wellington fnro San Franfilsco.
September 16. October 1J. November 10 and
every 28 daya Send for pamphlet.
Union Steamship Co., of New Zeidand. Ltd.
0ffireS79 Market afreet. San Francisco,
or local B. 8. aad K. B. agents.
COOS BAY LINE
Salla Prosn AIniiTvortB Dock. Portland,
every Thursday at 8 A. M. Freleht nnd
Ticket Oifioc, Alnsworth Dock. Phones
Main O0. A 23a. City Ticket Office,
u. ith - Phunea Marshall 4A00, A 613L
POftiLAAD COOS BAY , S. 11AJ,
Without Chans Ea nnt
,.S. S. ROSE CITY
Sails from Alnsworth Dock
9 A. ML, AUGUST ZS.
100 Golden Mllea aa
All Rates Include
Berths and Meals.
Table and Service
The San fr'raaclae. at Portland 9. S.
Co.. Third and Wsihlagtsa Streets
(Tilth 0.-W. R. N. Co.). TeL Broad
nay 45U0, s.sllt
Compasnie General Trancatlantlque.
Sailings From NEW YORK to BORDEAUX
ESPAGNE Sept. 4. 3 P. M.
CHICAGO Sept, 11, 3 P. M.
ROCHAMBEAU Sept, 18, 3 P. M.
LA TOUBA1NE Sept. 25, 3 P. M.
FOR INFORMATION APPLT
C. W. buns". ) a M.I . D. Charlton,
tiS Morrison .t.; K. (iarrisoa, C. M BC
F. By.; loney B. fcuuth. 11 d M E. F.
Ualrd 100 d st.i R. irickson. VVash
Slton St j North Bank Boad. SU .and Stark
.it, F. & M. Far land. ld and a.hlatoo
American-Hawaiian Steamsliip Co.
JTew Seek .
C P. Kennedy, Act. iti btaxJi 6t Portlamd,