r .4 VOL. LV NO. 17,089. PORTLAND. OREGOl '7 WEDNESDAY. SEPTEMBER 1, 1915. ,,H,nE FrrF, " FOREIGN EXCHANGE SLUMP IS ALARMING English Pound Drops 5 3-4 Cents. EXPORT TRADE IS IMPERILLED American Banks Are Bursting With Gold; Remedy Sought. WAR ORDERS MAY HALT Europe, Compelled to Pay Premium, likely to Stop Buying in United States; Cabled Warning: Ig nored; bosses Borne Abroad. NEW YORK, Aug. SI. The tremen dous export trade of the United States. In which the country leads the world for the first time, was imperiled today by an alarming drop in foreign ex change rates, notably sterling. At the close of business tonight the English pound sterling brought only $4.55 i In American money. This is a drop from its normal value of 31 cents; from its value of August 1 of 20 cents and from its quotation last night of 53 cents, a 24-hour break in values without a precedent. It marked the lowest va'.ue yet recorded in an excited mi-rKet where every day re cently has set a new recovd of depreci ation; and it indicated that sterling was .neided downward with a momen tum and velocity that promised to take it to levels unthought of 10 days ago. Producers May K Effect. In the face of this rapid depreciation bankers here were wondering tonight how much longer Great Britain would pay the premium and buy goods in this marKei wmch site can get elsewhere wnere the value of her money is Breaker. iney were of the opinion mat American factories and producers would feel the pinch if vatea went much lower; that cancellation of war urucrs ior everything except what oreat Britain cannot afford to do with out powder and shot, rifles and shrap nel, aeroplanes and automobiles would follow, and that there would be few new orders placed by London in America except for positive necessi ties. The reason and the remedy seemed clear in the minds of international bankers here. The English pound has become depreciated, they said. Tjecause l-ondon has failed to provide a method here of paying the big bills now coming uue to American shippers; the remedy would be. they thought, to establish quickly very quickly, unless sterling should become still further debased a mammoth credit loan in this market. America .Xetiln aio Gold. America does not want British gold to pay for supplies; on this point opinion was unanimous. The vaults of Wall street and the banks in the Interior are already choking with gold. More gold would tend to create a period of enormous inflation. What New York bankers want to do is to lend Great Britain an enor mous sum of money, to be spent in paying bills- here, on approved col lateral of high-class American rail way and industrial stocks and bonds. This, it Is believed, will restore con ditions to nearly normal. Apparently Great Britain Intends to adopt this course. Officially, neither Great Brit ain nor her financiers have given an inkling to bankers here of what they Intend to do to remedy the situation. When the deputation of British bank ers reach New York on its mission to strengthen the market they will come with a plan. It was authorita tively said tonight, of which their as sociates In New York are wholly in ignorance. England Ignore Warning. In this connection it was learned to night that some of the biggest inter national banking houses in New York had pointed out in their cable confer ences with London financiers three weeks ago the clanger that lurked. -.cau or. a naa suggested a course which, if pursued, would have steadied the markets for a month or until per manent methods of correction could be applied. That cable message, it. was said, had been entirely ignored. To this day there has been no reply to it. London has not awakened to the full measure of the situation, in the opinion of most international bankers here. The tardiness of Knglish bankers, it was ssid. is being paid in British gold at rates ex-.remely dear. The depreciation of the pound sterling. It was emphatic ally asserted, is not costing American manufacturers one cent, for all bills payable by Great Britam here are pay able in dollars. London bankers and buyers are paying the toll a premium of more than 6 per cent. The only bright spot in the outlook was the probability that the prevailing rates would persuade British holders of American securities to part with them now and reap the 6 per cent profit which thus would accrue.- These se curities are needed as collateral for the contemplated British credit to be estab lished here. It is estimated that there are American securities now in Great Britain to the value of $2,000,000,000. A sizable fraction of these securities, if available, would restore ret to nearly ii u Believed. WORLD'S FAIR GETS PENDLETON SHOW ROOD-CP TO GO TO SAX FRAN CISCO FOR FOUR DAYS. Panama-Pacific Exposition to Pay $45,000 Transportation Cost and Generous Bonus. PENDLETON. Or., Aug. 31. ( Spe cial.) Negotiations which have been pending1 for two months between the directors of the Panama-Pacific Inter national Exposition at San Francisco, and the Pendleton Round-Up Associa tion, for the reproducing at San Fran cisco of Pendleton's nationally famed epic arama or tne west, were con summated when the Pendleton associa tion accepted the Exposition's offer to defray all expenses of transporting- the P.ound-Up in its entirety to the fair. and to pay a generous bonus, for th reproduction of the show for the bene fit of the Exposition visitors October 13 to 17. Inclusive, All of the Round-Up stock and equip ment will be taken In 26 cars, and ai of the Bound-Up officials will make the trip. The expenses, of the trip ap proximate $45,000. Reproduction of the show at the Ex position was suggested by Exposition officials and the long delay In closing the matter has been due to the re luctance of the Round-Up Association to prmlt the use of any of Its stock or equipment outside of Pendleton. The Exposition will offer $10,000 in cash prizes, as well as special medals to the winners of competitive events. One day of the Exposition round-up will be known as Pendleton day. All contests will be open to contestants of every nation and all events will be for world's chanmpionships. uituoN BUILDING. Exposition Grounds. San Francisco, Aug. 31. Roy Bishop, member of the directorate of the Pendleton Roundup, is here, having come in response to a telegram from the Exposition officials to close a deal to bring the Roundup here to be ex hibited for five days. CANAL AIDS CATTLE TRADE Hog Shipment First Direct Result at Eltopia or Celilo Opening. ELTOPIA. Wash.. Aug. 31.(Spe clal.) The first direct result of the opening of the Celilo locks felt here was the shipment yesterday by Nagel Bros, from their ranch 12 miles west oi nere or 450 head of hogs by boat on the Columbia River. The shipment was consigned to the Union Stock yards at Portland. The rate quoted is cheaper by $2.20 a head than shipping by rail. In addi tion to this the boat loaded at the Na gel landing, thus avoiding a wagon haul fit 12 miles over poor roads. It is felt that the easy transportation will stlm- II In tn tli. V, . . . - uufi aim came Dusiness. es pecially among ranchers between here ana ine Columbia River. PEG0UD REPORTED KILLED Originator of Cpside-Dowii Flying Is Victim of War in France. PARIS. Aug. 31. It is reported that Adolp.a Pegoud, the famous French aviator, has been killed. Adolphe Pegoud gained renown in 1913 when he originated the feat of flying upside down in an aeroplane and looplng-the-loop. On the outbreak qf the war he joined tne French aviation squadron and several times sine uas been mentioned in dispatches for valor. The last exploit credited to Pegoud was in April, when he was reported to have attacked and brought down a German taube near St. Mene Mould. MONTH AT MARKET RECORD Rental Receipts and Amount of Business Largest Vet. In point of receipts and amount of business transacted. August was the largest month the public market on Yamhill street has had. according to the report of Marketmaster Eastman sub mitted yesterday to Commissioner Bige- w. During the month there was taken in from the 10-cent-a-day rental on booths a total of J695.S5. During no previous month since the market was established more than a year ago has there been so many producers or buyers. the report pays. ANIMAL FIGHT ACT UP Bull. Bear, Cock and Even Doe MlMips Under Ban in Law. Bull fights, bear fights, cock fights and even dog fights are to be placed under the ban by Mayor Albee. He has sent an ordinance to the Council which, if passed, will make It a serious offense for any person to "wantonly or for the amusement of himself or others, cause any bull, bear, cock, dog or other animal to fight, chase, worry or Injure any other ani mal, or to be fought, chased, worried or Injured by any man or animal." ACCUSED MEN SURRENDER Ex-Cabinet Members or Manitoba Furnish Bail of $5O,p00 Each. WINNIPEG, Man.. Aug. 1. Sir Rod mon Roblin. J. H. Howden. Dr. Mon tague and G. R. Coldwell, charged by the Mathers Royal Commission with conspiracy to defraud the province, voluntarily appeared at the city police station today. After a conference with Deputy Chief Newton they were released on ball of $50,000 each, $25,000 consisting of a personal bond and two sureties of 12,500, each JOelag elven,t AMERICANS .KILL GENERAL CBOZCO Mexican Leader Shot by Civilian Posse. BATTLE IS WAGED IN CANYON Cavalry and Customs Officers Aid in Pursuit. 4 RAIDERS DIE WITH HIM General Huerta Refuses to Comment on Death of Mexican Who Was His Right-Hand Man and Who Died a Fugitive. GALVESTON, Aur. SI. Orders have been issued by Major-General J. Frank lin Bell, commanding: the second divi sion, U. s. A-, to commanders of the fourth and nineteenth regiments of In fantry and the Sixth Cavalry to hold their commands In readiness to entrain on short notice. General Bell announced that the Fourth Infantry- and Sixth Cavalry would bo to Harlingen, Texas, two bat talions of the lth Infantry to Bel Rio and the other two battalions to Fort Sam Houston at Sah Antonio. Harllngen and Del Rio are la the border country, which has been - the scene of many recent depredations by .nexican bandits. EL PASO, Tex., Aug. 31. General Pascual Orozco. prominent mlilnrv leader in Mexico's many revolutions of the past five years, was killed late yes terday in a fight with a posse of Amer ican civilians, customs officers and troopers of the Thirteenth United States Cavalry, according to Government re ports received here late today. The battle took place In Green River Canyon of the High Lonesome Moun tains in Culberson County, Texas, fol lowing a raid on the Dick Love ranch yesterday. Orozco and four companions were pursued from the Sierra Blanca country into the foothills. The last of the band died at dusk. Identification Is Positive. How desperately they fought was shown by four bullet wounds in the body positively identified, according to reports, as that of the Huerta general. At the home of General Orozco'a fam ily here the report of his death could not be confirmed. General Victoriano Huerta would make no comment when Informed of the reported death of his former chief officer.. All the bodies of the raiders have been ordered shipped to Van Horn, Tex. An undertaker from this city is en route to take charge of the body said to be that of General Orozco. Career Is Spectacular. Orozco was one of Francisco I. Ma dero's chief military commanders in his revolution against President Diaz. Later when military governor of Chihuahua he deserted Madero and espoused the cause of Victoriano Huerta and sub- (Concluded on Page Column A. r ' 1 M . ...-.t...v.j. ,T,-J.T.T.TJLJ-J1. Hl! IXJL'JL JL-S1 I J I I i " 3 INDEX OF TODAY'S NEWS The Weather. YESTERDAY'S Maximum temperature,. 78 aegpeea; minimum, a5 decrees. TODAY'S Threatening; southwesterly 1UUB. . War. Arabic destroyer may be lost. too. . Page Handbills urge use of dynamite on munitions factories. Page 2. Mexico. American posse kills General Orozco. Page 1. Domestic. Slump in foreign exchange imperils Amer ica's export trade. Page 1. Miss Crystal Hyland to wed young Bolivian. Page a. TV. H. Taft advocates Just dealing between Japan and America. Page 3. Mr. Taft's chuckle is cont&doiu at fair. Page 3, One body lu F-l identified. Page 1. Sport. Coast League results: San FVanctsco 1. Portland 0: Salt Lake 6. Oakland 5. No game at Los Angeles, the Angels not arriving. Page Hi. Chick Evans loses to New-Sawyer in Na tional amateur golf play. Page 16. W. M. Johnston, San Francisco, winner in forest Hills match over Hackett. Page B. Pacific Northwest. Governor proclaims close of hunting m two vuuiiues unui iorcei iires pass. fare o. Pendleton Round-Up to be given at San r rancisco Exposition. Page 1. Commercial and Marine. Wheat lower in local market, with no de mand. - page 17. Lowest prices for crop in Chicago wheat maricet. .rage 17. Stock trading checked by acute conditions in zoreign credit situation. Page 17. August wheat shipments from Portland oreaK previous record. face 13. Less than a 00,000 bales is Oregon hops es- ii in ate. rage i. Portland and Vicinity. Lowell Bradford and Miss Lottie Grantham. Tormer fellow students at Reed, to wed. rage . General G. W. Goethals discusses canal tolls at Chamber of Commerce " luncheon. rage 13. Teachers of Multnomah County open instl lute nere today. Page 7. First special train leaves today for Astoria regatta. rage 7. Portland business gains big during August. Page 1. Bull Run River unusually low, but city water supply is plentiful. Page 11. Contest Just ended shows standard of milk in rortiand is mgi. - Page 12. Warrants charge eight-hour violations in paving and bridge work. Page 13. Nineteen of 3!) Incinerator laborer applicants iu.ii in has La. rage J 4. Weather report, data and forecast. Page 14. RANCHER HAS CANNERY Franklin County Farmer Makes Big Peach Crop Saving. PASCO, Wash.; Aug;. 1. (Special.) John W. Kleeb. a lumberman of South Bend, Wash., who owns one of the largest irrigated ranches In Franklin County. Is here spending the harvest season on his farm. Since his arrival he has shipped six carloads of peaches and canned 8000 cans with a small cannery which he established .on the ranch this season. During past years many peaches have gone to waste because they could not be marketed in time to save them. This loss has been overcome this year with the cannery. SPY'S HEARING POSTPONED German Held on British Forgery Cliarge Says Case "Trumped Up." NEW YORK. Aug. 31. When ar raigned in Brooklyn on a Federal war rant charging forgery amounting to nearly $500 Ignatius T. Lincoln, for merly a member of the British Parlia ment and an admitted German spy, to day asked that his case he adjourned for a week. The request was granted. The alleged forgery was committed in .London. Lincoln said in court that the charge "had been trumped up" in order to get him back to England. where he had reason to believe he would be shot as a Bpy. DEFIANT UNTIL THE LAST. ONE BODY FOUND IN F-4 IS IDENTIFIED Cause of Submar;:is Fate Yet Unsolved. SEVERAL BODIES UNCOVERED George T.Ashcroft, of LosAn- .' geles, only Recognized. DENTAL BRIDGE IS CLEW Bout Filled With Debris and Sand, Battery Plates and . Mud; Exam ining Board to Make Report to Washington Direct. HONOLULU. Aug. 81. One body found In the forward compartment of the submarine F-4 was Identified today as that of George T. Ashcroft, of Los Angeles, gunner's mate, first class. Ashcroft's body, although little more than a group of bones, was Identified by a dental bridge. Naval officials said. More remnants of bodies have been found in the interior of the submarine, but there has been no further identifi cation. The board of Inquiry expected to cable the Navy Department late to day the results of the investigation as fart as it has gone. Several Bodies Found. Several bodies of the 22 men who went down in the submarine F-4 March 25, were found entangled in the wreckage of the interior. A hole was ordered cut in the for ward compartment of the submarine, which so far has been inaccessible. Preparations have been made to em balm the bodies as soon as they are taken out. The -hulk of the submarine, raised and placed in drydock yesterday, to day was exposed to view, the work of pumping out the drydock and raising the shattered and torn submarine from the waters of the harbor having been- completed during the night. Vessel Killed with Debris. The F-4 lies on her starboard side in the drydock. When, the examining board, composed of Read-Admiral C. J Boush, Lieutenant-Commander Julius A. Furer and Lieutenant Klrby B. Crittenden, entered the vessel, they found the starboard side and bottom filled with debris, ba.ttery plates and some sand and mud. In addition to the gaping holes in the stern of the submarine, a big hoi has been torn in the forward part F-4 KXOWX TO BE DEFECTIVE Government Board Reports Serious Weaknesses in All F Boats. WASHINGTON. Aug. 31. Serious weaknesses common, to all four of the Navy's "F" type of submarine are pointed out in the report, made public today of the board of Inquiry which made an investigation at Honolulu im mediately after the loss of the F-4 (Concluded on Page -, Column I.) Tuesdays War Moves THE Russians thus far have prevent X ed the Germans and Austrians from carrying int- - ffect their efforts to force b'" ,,-cwo extreme wings of the - ,3St Grand Duke Nicholas. At -vurthern cxtremltv of th. fmnt mat portion o Field Marshal von Hln- nenourg ao' ,y commanded by General 1 "111 fighting for the S-Kehead south of Friedrlchstadt, while the Austro-German forces under General Bothmer, who broke through the Russian lines on either side of Brxesany. Galicla, have been checked at some points on the Strlpa Klver. Along the rest of the front, the Ger mans claim to be making headway, al though some who got through th for est region east of Bialystok have suf fered a reversal at the hands of the Russian rear guard. The points of most interest, however, are at the two wings. The Germans near Friedrlch stadt are well east of Riga, and mill tary experts say that unless the Rub slans can dispose of the considerable force, so as to threaten the Teutonic flan.c. it appears Improbable that Fried- ncnsiaat can be held much longer without grave danger. The threat against the other wing is not so seri ous, as it is more distant and difficul ties or the country are too great for rapid advance. In the Western theater of war th French continue artillery attacks on me Uerman lines and concentration points without as yet any evidence of a general offensive. .The Italians are more active and re port the capture of another strong Austrian position southeast of Trent, and of some Austrian trenches on the Corso on the road to Trieste. Accord ing to Italian accounts, the Italian progress, while naturally slow on ac count of the nature of the country to be traversed, is continuous. Except for the Turkish official re ports already published, there is no news of the fighting Saturday and Sunday on the Gallipoli Peninsula. It is understood that the Balkan negotiations are moving more quickly. The Bulgarian Minister had a long conference Tuesday with Sir Edward Grey, the British Minister of Foreign Affairs, after which the Ambassador of the entente powers and the Serbian Minister called on the Foreign Minis ter. September 1, 1014. Austrians suffer severe defeat in battle against Russians in Russian Po land. General Pp.u. of the French army, defeats German army of 50.000 near Peronnes, according to report from Antwerp. Japan takes isle in Kiau-Chau. Thousands flee from Paris. GERMAN AGE LIMIT RAISED Law Providing Calling Men of 54 Causes Altercation in Reichstag. COPENHAGEN, Denmark, via Lon don. Aug. 31. The Folkeblad, of Holding, a frontier Journal with excel lent sources of information in Ger many, states that there was recently an altercation in the Reichstag con cerning a national service law which the German papers are forbidden to discuss. "The law will increase the age limit to 64," the newspaper says. "It auth orizes the calling out of all men who hitherto have been rejected on account of their physical condition, including even those who previously have not been considered fit for the untrained landsturm." APPLE MEN HOLDING OUT 80 Cents Offered by North Dakota House for C Grade. NORTH YAKIMA. Wash., Aug. 31. (Special.) Truman Butler. Hood River, member of the executive committee of the growers' council, came here to day and joined Chairman Paulhamus and G. -C. Corbaley in conference with bankers and apple-shippers with ref erence to an acceptance of the proposi tion of Robinson & Co., of Grand Forks, N. D., to purchase all available C grade apples at 80 cents a box. The offer is made on condition the deal includes all C grade annlex in the Northwest districts. Growers' coun cil officials favor acceptance, but some shippers are unwilling to go into the deal and are holding out. GIRL LANDS 29-INCH FISH Fair Angler Establishes Record at Hood River. HOOD RIVER. Or.. Aug. 31. (Spe cial.) Miss Katherine Baker, the 16-year-old daughter of Mr. and Mrs. W. 3. Baker, who have been passing the summer in camp near Hood River, has made the record catch of fish for fair Hood River anglers. Miss Baker hooked and landed a 29V-- nch Steelhead. Plunging into the deep water after the strong, game fish, the young woman was drenched in the game fight that followed. RUSSIANS REPORT SUCCESS Counter Attacks Over AVide Terri tory Not 64 Guns, 3000 Men. PETROGRAD, via London. Sept. 1. Successful Russian counter attacks on wide front in the Stripa River dis trict. Eastern Galicia. are reported in a Russian official statement given out here tonight. The Russians say they have'eaptured 3000 prisoners, 30 cannon and 34 ma- china guns, r PORTLAND BUSINESS HEALTHY IN AUGUST Grain Export Gain Most Gratifying of All. VOLUME IS TREBLED IN YEAR Building Permit Total Is Hun dreds of Thousands More. LIVESTOCK INCREASE IS BIG Postofflce Showing Is Bert foe Several Months and Regular Rise in Bank Cleariugs Is Now Anticipated for Future. Figures of Portland's business transaction's for the month of August reflect a healthy state of affairs. Improvements are evident in many commercial and Industrial lines, par ticularly in livestock receipts, grain ex ports and building permits. This was the first month in mora than a year in which these departments all showed substantial Increases. Mean while the bank clearings, for the first time in nearly a year, show a volume equal to that of a year ago; the poet office receipts are about equal to thoss of August. 1914. and many other de partments show Improvements. Grain Exports Most CiratifylnR. The most gratifying item in the minds of Portland business men Is the wonderful increase in grain exports. The volume virtually is three times that of a year ago. nearly three quarters of a mill bushels of wheat were moved ou. the local port for export. Lumber, on the other hand, moved smaller quantities as compared wi August. 1914. This is due primarily to the war. The European buyers are out of the market. The heavy grain movement promises to continue through the present month. Many steamers already have been char tered for this business. Substantial improvement is reported from the Union Stockyards in hog re ceipts for the last month. A total of 14,907 head were received there in Au gust. 1915, compared with 10.335 head in the corresponding month a ytar ago. Pos (office Receipts Ga'nlng. Portland poetofftce receipts for Au gust, according to estimate made yes terday by Assistant Postmaster Durand, will be $93,000, as compared to $93,4 for August. 1914, and $87,878 for Au gust, 1913. Though exact returns when the books are balanced today may change the estimate,. the change would be slight. This is the best showing the postof fice has made for any month of 1913. Decreases in the amount of 1915 busi ness over 1914 business were as higa as $10,000 and $11,000 a month in Janu ary and February. The decreases havo gradually become smaller, however, this month's receipts being less than $300 under those of August, 1914. Despite the fact that little wheat has been paid for through the local banks, the bank clearings for the month Just closed are nearly as large as those of August a year ago. Clearings Showing Is Good. For the last 12 months the Portland bank clearings have been showing varying losses from month to month, due to the consolidation a year ago of the First National Bank and the Se curity Savings & Trust Co. It Is an ticipated now that the clearings for the remaining months of the year will eho regular Increases. Following are the clearings for the month of August for each of the lat seven years: A US Tint Bank Clearing. lflir. . 114 . iia . !12 . mil l'.UO .. 1309 . . For 40.n:.O43.ST 4o.57a.."sa is .VUlT.iej.TO 44.377.BJ.VWS 41.54H.702 4 SO,74.3,87j.;2 months of the previous three the present year: July. 1B15 40.SBO.-JOS 00 June. 1015 4 l.UK'j.l'O'j. IS May, l'jlo 1,Uo2.S1U.TO The number of building permits is sued during August was 416. with a to tal valuation of $728, S70. This Is the biggest month since last December. In August a year ago there.- were 610 permits of a value of $409,390. In. July of this year there were '328 per mits of a total value of $37:1, 37o. TRADE BALANCE INCREASES Weekly Imjtorts and Exports State ment Best Since March 13. WASHINGTON. Aug. 31. The great est favorable trade balance since March 13 was shown today by the statement of weekly imports and ex ports for the week ending August 28. The favorable balance for the week was $3:1.269.039. Exports were $60,311,764, and im ports were $27,042,725. Ex-President of Ecuador Is Dead. GENEVA. Switzerland. via Paris, Aug. 31. Antonio Flores. ex-President of Ecuador, is dead here. Senor Flores was elected to tiie Prejidency of Ecuador in ISSs. and served Uie term of four years. v. if i : v I"K!1 1 lQ.O "