MR CLEWS HOPEFUL
Loan of $500,000,000 to Allies
Advocated.
FINANCIAL EASE IS CITED
?v York Banker Says British and
I reiKh Purchases or Cereals at
I'roH table Prices Will As
sure Prosperity In States.
Future trade ana prosperity In this
country are dependent largely upon the
outcome of the 'pending negotiations
netween the Angle-French financial
commission and the American bankers
or tho t.-rmei of the proposed British
nnd French Joan, says Henry Clews, the
""""nii cw lorK banker.
if our t;rain and our foodstuffs are
10 sol. I to the nations that under
urrcnt conditions are our natural
"homers, says Mr. Clews in his cur
lout trade letter, "if, too, the products
01 our lactones as well as our farms
;ir" to ko forward in such volume as
"ill mean prosperity at home; it is Im-
perntiye, under present unexampled
omuuons, that proper financial facia
lies lc afforded the buyers. The ques
tion is the. old one that is so frequently
misunderstood of the difference between
money and wealth. There is no dues
ti"n that the British and French gov-
rmmonts have ample wealth with
which to buck up any obligations they
may undertake. The terms on which
tne credits they desire may safely be
fit mj tm.j wisdom or the expert in
Uresis who are conducting the trans
actions. It would be conservative and
cuo'l Judgment, 1 think, to confine the
crr-dft. ;it :iny rate to start with, to
S-iy 5..ytl,0l'J.t'00.
"The siu c. s of the negotiations, as I
have inrim;iied, means much for our
own country. It would provide in the
tirst pince not only for the continuance,
nut for a substantial increase in the
roiurno ot our exportations. It has
what may hn termed a vital bearing
upon the prcat granger sections of our
country, nine it will decide whether
the entente- governments will be prompt
a no iiDerai j urchasers of our grains at
remunerative prices at the beginning
of the season or whether they will give
preference to other sources of supply
nnd hold heck: so far as our own grain
is concerned until the eleventh hour.
"This wo ul. i expose our grain more
freely to the possibilities of the release
of the huge quantities of Russian
wheat the growth of two seasons-
that are Btored up awaiting the opening
ot tne uaraaneiies.
"With the possibility of the United
States becoming an active participant
in tne European struggle so greatly re
moved and with the Bucces of the
Anglo-French loan so clearly in eight
tne outiooK ior the market for securi
ties may be regarded as having cor
respondingly Improved. The favorable
imoney outlook will not be modified
materially by the practical steps that
will be concerned in the credit that is
being arranged. The proceeds of the
loan are not to leave the country. They
will remain on deposit in the banks
find trust companies until needed and
will return to the banking institutions
when the payments for supplies for
which they are intended are made.
"With such a large supply of Idle
funds as at the moment exists
thoroughout the country and as is
likely to continue for a protracted
period, there is active encouragement to
look for the profitable operation of our
railroads and of our great industrial
combinations that are so thoroughly
representative of our National "activities.
BOILED HAM EATEN
WASHINGTON EPICURES FEAST TO
SETTLE ARGUMENT.
But When champasrne Flavor Is Tasted
by Some, Question Is as Much
" in Air aa Ever.
WASHINGTON, Sept. 20. '-For four
years two prominent Washington men
have quarreled over the question
whether a ham cooked in ink is better
than one cooked in champagne. The
champion of the ink-cooked ham is
Frank Conger, former postmaster here.
The champagne eide of the gastronomic
argument was taken by "Tony" Rich
ardson, a real estate man.
An experiment took place at "Shoe
makers." retreat of statesmen, artists,
publicists and literary lights and the
birthplace of the "gin rickey." Profes
sor "Qui" Noack, analytical chemist,
was called in as expert. Eight quarts
of each liquid were used. Mr. Noack
arranged the gas stove and made sure
that the ink man had not substituted
grape juice.
The place was thronged all after
noon while the cooking of the hams
went on. Representatives of the Army
nnd Navy dropped in. Chief of the
Bureau of Engraving and Printing
Joseph Ralph was called in as an ex
pert on inks to put an end to a per
sistent rumor that Conger, who is a
great admirer of William Jennings
Bryan, had not substituted grape or
longanberry juice for the ink.
"Of course," said Mr. Conger, "I do
not maintain that the ink adds to the
delectable flavor of the ham. But neith
er does the champagne. I would not
advise., epicures to drink the ink in
which the ham is cooked. But I will
eat the ham cooked in the ink to prove
that no part of the ink substance is
absorbed by the ham in cooking, and
that the man who has been jollying
himself with the idea that he obtains
a. champagne flavor from ham cooked
In champagne is merely working his
imagination overtime and ought to be
a war correspondent and not a chef or
bon vivant."
To all of which the champagne man
merely retorted:
"Who's inky nowl"
At 5 o'clock the hams were cut and
about T5 persons present partook of
the meat, nobody knowing which he
ate The advocate of the champagne
cooked ham was asked to pass judg
ment. Ha insisted he could taste a
bare flavor of champagne, but admit
ted that lie had not tasted ink. So he
decided for himself, and Professor
Jfoaek handed Mr. Conger a bill for
eight quarts of champagne under the
terms of the wager.
Ink Is not sold over the bar of Shoe,
makers; U had been procured outside,
when the crowd dispersed the issue
-.UGU aa lar Xrom being settled
CHRONOLOGY OF CHIEF EVENTS OF THE WAR TO DATE.
PROGRESS OF THE PAST WEEK.
September 22 Germany abandon policy of sinking passenger
steamers without warning.
September 23 Germany agrees to sink no more American vessels
and to pay for ship William T. Frye.
September 25 Allies begin long-expected drive on western front.
EARLIER EVENTS OP THE WAR.
June 28, 191 Grand Duke Francis Ferdinand, heir to Austrian
tnrone, and his wife assassinated in Sarajevo, Bosnia, as result of
fan-Slavic propaganda.
July 23 Austria sends ultimatum to Serbia; 28, Austria declares war
?"i berPla-: Rssia mobilizes against Austria; 29, Austria bombards
Belgrade; 31, Germany demands toat Russia demobilize, Belgians and
Germans order mobilization.
August a Germany declares war on Russia; 3, German troops enter
.Belgium; 4 Great Eritain sends ultimatum to Germany demanding re
spect for Belgian neutrality; Germany declares war on France and
JtSelgium; Great Britain declares state of war exists with Germany;
6, Austria oeclares war on Russia; 7. French enter AIsa-: 10, France -declares
war on Austria; 12, Montenegro declares war on AustrJi.
Great Britain announces state of war exist with Austria: 15, Japan
sends ultimatum to Germany demanding that she withdraw ships and
evacuate Kiau-Chau. China; 17, Belgian capital moved to Antwerp;
!0, German army enters Brussels; 23, Japan declares war on Ger
many; 2o, Austria declares war on Japan; 28, British fleet victor in
sea fight in Heligoland Bight, Germany losing cruisers and torpedo
boat destroyers.
September 5 Great " ritain, France and Russia sign agrcament to
make no peace save together; 21; German submarine U-9 sinks British
cruisers Cressy, Hogue and Aboukir in North Sea.
October 9 Antwerp capitulates to German forces; 17. four German
destroyers sunk by British cruiser in North Sea; 20, Japanese occupy
padrone Islands, in Pacific Ocean; 27. British super-dreadnought
Audacious, third in tonnage and armament in British navy, sunk by
torpedo or mine off north coast of Ireland; 31. Turks annex and In
vade Egypt; German submarine sinks British cruiser Hermes
November 1 British squadron defeated by German fleet off
Chilean coast; 3, Great Britain and France formally annbuncl state
of war with Turkey; 7, Tsing-Tau, German stronghold in China, falls;
1?' German cruiser Emden destroyed by Australian cruiser Sydney;
26 British battleship Bulwark blown up and sunk near mouth of
.i.. ow.es iium explosion oi own magazir
December 8
merman commerce destroyers Scharnhorst, Gneisenau.
Leipsic and Nrnberg cestroyed off Falkland Islands by British fleet,
cruiser Dresden escapes; 16, German fleet raids east coar r.- England.
Hartlepool, Scarborough and Whitby bombarded
January 1 191 British battleship Formidable sunk in English
Channel by German submarine; 19. German fleet of airships raid Sand
ringham and other cities in England; 24, German cruiser Bluecher
sunk and three sister ships damaged trying to raid English coast.
February 12 British fleet-of 34 aeroplanes raids German bases in
Belgium; 18, German submarine blockade of British waters begins: 19
Great Britain justifies use of United States flag by British merchant
vessels; 23, Kaiser and all Germans go on limited bread allowance;
ia, Anglo-trench fleet begins bombardment of Dardanelles forts; 26.
Boers invade German Southwest Africa, -
March 1 Great Britain declares absolute blockade; 4, allies' fleet
bombards coast of Smyrna; Germans offer to recede from "war zone"
poUcy if permitted to Import food; 10, arrival at Newport News of
German raider Prlnz Eitel Friederich discloses she sank United States
ship William P. Frye in South Atlantic January 28; 15. German cruiser
Dresden sunk after attack by British squadron in Chilean harbor,
f oln declares blockade against all shipping to and from Germany;
16, British liner flies American flag; 17, German Consul arrested at
beattle on charge of trying to buy submarine information, German
cruiser Karlsruhe unofficially reported sunk by hitting reef in Decem
Der; 18. two British battleships and one French battleship sunk by
mines while bombarding Dardanelles; 21, Zeppelins raid Paris- '2 Rus
sians capture Przemysl, Gallcia. and 120,000 Austrian; 24. members of
German cruiser Emden's crew raid Dutch colony port; 28. American and
117 other passengers die when German submarine sinks British liner
r alaba.
April 2 Great Britain establishes blockade against cablegrams re
garding business of enemy nation: . Gifford Pinchot, special repre
sentative of Lnited States In Belgium, expelled by Germans; United
States refuses to admit right of British embargo on foodstuffs tor
Germany; 9, German note declares United States is lax in regard to
neutrality; 11, German commerce raider Kronprinz Wilhelm slips into
Newport News, Va.. later interning; 13, Italy agrees to support Ser
bia s claims to outlet to sea; 14. German aircraft make three-day
raid on English towns; 19, two Turkish destroyers sunk by Russian
mines at entrance to Bosporus; 22, United States replies that German
charges of lax neutrality are groundless; 25, allies land armies on
both sides of Dardanelles; 28. French cruiser Leon Gambette sunk
by Austrian submarine.
May 2 American steamer Gulflight sunk without warning by
German submarine, three deaths resulting; British destroyer and two
German torpedo boats sunk in North Sea; 7. British liner Lusitania
sunk without warning by German submarine, about 1400 lives being
lost, including 140 Americans; 10, German government expresses regret
over deaths of Americans on Lusitania; 13. Presi' it Wilso- demands
reparation of Germany for deaths of Americans on Lusitania and other
torpedoed vessels; British battleship Goliath sunk by torpedo in Dar
danelles; 21. British Cabinet reorganized; 23, Italy declares war on
Austria; 26. Italians invade Austria, American steamer Nebraskan
torpedoed off Irish coast; 26, British battleship Triumph sunk In Dar
danelles: 27, British battleship Majestic sunk in Dardanelles; 31. Zep
pelins raid London.
June 3 Przemysl retaken by Austro-Germans; 7, Canadian aeroplan
ist destroys Zeppelin In air battle: 8. United States sends second note
regarding attacks on American ships. Secretary of State Bryan resign
ing to avoid signing document; 10. cruiser Breslau sink Russian de
stroyer in Black Sea; 15, allied aerial fleet kills 200 persons at Karls
rfihe. Germany; 22, Austro-Germans recapture Lemberg, capital of
Galicia; 26, Austrians sink Italian warship: J7, War Minister Souk
howllnoff, of Russia, resigns and is succeeded by General Poliva
noff. Montenegrins occupy Albanian cities.
July 1 Greeks Invade Albania; 2, Russian Baltic fleet defeats Ger
man vessels. British submarine sinks transnort loaded with Turkish
troops in Sea of Mormora; 9, Germany replies to American note on
Lusitania affair; German submarine attacks British liner carrying
Americans; German Southwest Africa surrendered to General Botha.
11.- British warships destroy German cruiser Konigsberg; 19, Austrian
submarine sinks Italian cruiser; 22, United States warns Germany
against repetition of Lusitania disaster; 25,-German submarine sinks
American steamer Leelanaw. saving crew; 26, German submarine
sinks French submarine; 30, Pope appeals to belligerents for peace
August 2 British and German governments replying to notes in
sist they have right to hold up American ships: British submarine
sinks German destroyer; Warsaw captured by Germans; 10, Pope ap
peals for peace; British destroyer and auxiliary cruiser sunk- It
Germans sink own cruiser to prevent capture: 16. America replies to'
Austria, denying unneutrality of munition sales; British liner Arabic
with Americans aboard, sunk without warning; 20. Russians and Ger
mans lose small warships in Gulf of Riga battle; 21. Italv declare
war on Turkey. .
September 1. Germany promises America to sink no more noncom
batant vessels without warning: 2. Pope asks President Wilson to trv
and restore peace; 6. British liner Hesperian with American pas
sengers aboard sunk from undetermined cause; allies" submarine sinks
i u. ucbiiu;ci, o, tzar laaes command of Russian
United States asks Austria to recall Ambassador Dumba; about 300
civilians killed in Zeppelin raid on London: 10, Anglo-French envovs
reach New York to try .to borrow $500,000,000; 16, British prize court
declares forfeit American wheat cargoes worth $15 060 000
before the feast.
a
Same Old Ilvesr.
The rain fell sullenly. Truck horses
Plodded along the sodden street pa
tiently, heavily.
Gladys de Vere stood at the window
or her house on Dudley avenue looking
iut on a sloppy and dismal world. The
loneliness of the day weighed on her
very soul.
"I am heart hungry." she sighed to
herself, "aye. heart hungry."
But what was the use? There would
be ver for breakfast just the same.
St. Pauf Dispatch.
HOI TRADE BETTER
Improvement in Railroad Traf
fic Declared Encouraging.
LABOR IN GREATER DEMAND
Chicago Bank Points Ont That Big
Transportation Companies Have
Made Improvements, So Re
quirements Xow Are Great.
Surplus agricultural production will
move slowly this year, according to
present' indications, says the Conti
nental and Commercial National Bank
of Chicago in its trade review.
This applies particularly to export
trade, and is due to the activity of
German submarines, which, says the
report, is one of the direct results of
the war imposed upon this country.
This, it is pointed out, will necessi
tate the greater use of credit In this
country in carrying this surplus of
grain and foodstuffs until it Is actually
needed abroad and transported there.
Naturally, the report continues, "if this
should develop. It would tend to a firmer
money market In this country. A
firmer money market would be desir
able, both as a check on any tendency
toward inflation and over-extension of
credits, and also because it would make
for a healthier banking position, as the
excessively low Interest rates have
made banking less profitable. A steady
rate at a normal level is much more to
be desired than an abnormally low rate
and a plethora of funds."
Hopeful Indication Seen.
In presenting a review of the do
mestic business situation the report de
clares that, despite the handicap of un
certainty arising from the demoraliza
tion of international trade, "the do
mestic situation gleams brightly in
many places,
"There is a hopefulness' based upon
actual promises woven through the re
ports from every section of the coun
try. Business has been adjusting it
self to changed conditions in some sec
X. omy in the regions
ucciiuence is upon a single in
dustry or activity related to world oe
munas, mat oppression finds lodgment,
"" uiBiuncea are small in com
parison with the country as a whole
"No one great interest ha .nfr.r
mora than the transportation lines, and
: lnLO lne opening of this
j. mat general enoris were made to
' vc"'- venous impairment of the
finances of the companies. The Dre-
V Alia xmn .njt - .
, ..xu ucen one or decreasing
. ', " ca.oinS costs, the lat
ter resulting from a gradual rise in the
rlce of material and Increased wages,
pie large crops last year were expected
to overcome the losses of the fiscal
period that ended with June, 1914. but
h .VL draSei on nd tonnage
outside of the grains decreased, and the
Interstate Commerce Commission re
fused to grant the increase in rates
asked, the necessity of retrenchment
I" ied'-and.th railroads as a whole
ended the fiscal season with a slight
Increase in the net revenue over the
previous year. The gross earnings were
nnST'02?'000; mating efpense,
$171,000,000 Since February there has
been a gradual reduction in the losses
in revenue, and only the delayed har-
kept the midsummer revenue from ex-
f.e.i'J'Vhat ?'iast year- Each month,
if ' X; ncted a derease in the num
ber of idle cars, and the reviving ac
tivity in industry, and the assurance of
fhiafu.a,n tonnaS has permitted
r i V?a.dB to enter upon an expan
sion In their own affairs.
' ' Practical Economy.
Life.
?l7?f-Jr??. dent ya com with
cms. t. , " me ring,
fal I m afraid we can't
afford to do
Farm Loans
Eastern Money at
Low Kates.
Commerce Sfe
Dep. and
Mortgage Co.
91 Third St-f
Chamber of Commerce Bldg.
TRADE PLANS TOPIC
Lumbermen Discuss Means
for Improving Industry.
RESOURCES BEING WASTED
Experts Blame Overproduction for
Condition and Propose Restric
tlon in Chatting Under Regula
tion by Government.
How to improve the lumber business
is a problem that is confronting some
or the largest commercial organiza
tions in the country, and many business
men are giving the question serious
study.
In the current issue of "The Nation's
business," published by the National
Chamber of Commerce tYtm liimhar in
austry or the United States is the sub
ject of a lengthy discussion, and a
series or probable remedies are presented.
"That the lumber business is in a bad
way and needs the earnest considera
tion of all those who care for th nn
dltion of American business," says this
contribution, "was brought out during
neanngs .by the Federal
trade commission.
The condition of the lumber hmmasa
according to President R. H. Downman,
of the National Lumber
Association, "has been for the past
eight years one of progressive demoral
ization. Practically little or no profit
has been made during that period."
When the present waste of forest re
sources has been considered, there is
an actual loss In the business not only
of profit but of the original material.
Overproduction Declared Canse.
According to Mr. Downman tbi sit
uation is due to "overproduction snrf
uncontrolled competitive conditions."
The Federal Trade Commission was ln-
lormea mat. not since 1907, has the
railroad industry, one of the largest
consumers of lumber inthe United
States "been in the market nnrmiiiv
There is only 60 per cent of normal con
sumption by the railroads. Owing to
the war in Europe the export business,
which usually consumes 10 per cent of
lumber production, has practically
ceased. Moreover, owing to the gen
erally depressed financial conditions
during the Summer of 1914, building
operations throughout the country
practically ceased.
Because of our wasteful lv nf nin
toward conservation of our forests,
lumber Is a "rapidly diminishing nat.'
ural resource." Overproduction coupled
uncontroiieo competition makes
forest waste unavoidable." During the
past 35 years the lumber manufacturers
reminaea tne Commission, while the
population of the United States has in.
creased approximately 83 per cent, the
per capita consumption of lumber has
increased 47 per cent. This, with other
causes attendant upon the production of
navai stores, turpentine, etc., have re
sulted in this tremendous loss to in
vested capital and to labor. Similar
conditions exist in the "Inland Empire,"
and, according to this testimonv fv
Canadian government has been making
an investigation and has found similar
conditions in the Dominion.
lhe lumber business nositlvelv jmn.t
have co-operation in all it hrnoh..
if it is to survive. The Government
stumpage sometimes precipitated on the
maricec in vast quantities and at a low
price is a serious factor. Moreover
there are many substiutes for lumbar
iuuay. ine railroads, for Instance, are
using a vast quantity of concrete where
they formerly used wood. "Thu lnmhor
business ia sick. Its disease is over
production and unlimited competition.
The manufacture of lumber is wasteful,
shamefully wasteful. There is no other
resource of the country that more needs
10 oe protected.
Restriction Is Proposed.
Thft teRfimnnv HnfnfA v.A n.j.
- - j i curi til
Trade Commission was to the effect
that the remedy lay not in the restrain
ing ui ira-uK or me nxing or prices, but
in "rjrOfl n P- 1V ao-rAamAn 1
much lumbr as the market will assimi
late under and hv I v. aimAruiot A n
the Commission." For the most part,
the lumbermen wpro nnnhn tn f-e
definite remedies fo the illness they
complained of. They put the responsi
bility on the Commission. The business
might get some heln nn. o-vnor ..
Ileved, if allowed to curtail production
and meet market demands and to or
ganize selling agencies under Govern
ment supervision. Why not, he asked.
under the Forestry Service?
bumming up the suggested helps, such
as tne lumbermen thsmacivpa mono
Edward Hines put the suK-e-estionx
thus: Some means for securing a
minimum llfno- apIp. . I .. .. . i
r-, - - - ..vt lltn
the cost of production; (2) Establish
ing a real American merchant marine
to compete with tonnage under foreign
fl Jl IT" H " t 'i ft n rVl M (.nnoill ..at Inn
dian competition: (4) Withholding Gov-
ci mucin, siumpage irom ine market as
vw-vjoi dii ex
ploitation and selling of lumber at
home and abroad throurh sai onm-
panies.
HOPE FOR LUMBER FELT
Paper on Conditions in Trade Is
Heard by Bankers.
Pride In the long and honorable rec
ord of the timber and lumber Indus
tries of the United States and confi
dence In the quick rehabilitation of
these industries from both a manufac
turing and investment viewpoint, were
the sentiments behind a paper present
ed to the Investment Bankers' Associa
tion at their annual convention held at
Denver this past week. Calvin Fentress,
of Lyon. Gray & Co.. of Chicago, pref
pared and read the paper last Wrd nps
day as a report of the special commit
tee appointed to consider the present
tatus of timber bond3 as an invest
ment.
The annual meeting of the Invest
ment Bankers' Association is consid-
red by many as of more immediate
importance to this section than the
meeting of any similar financial or
ganization. It is made up of men
through whose hands pass the bond
issues based on our resources of timber
and water, and out- municipal activi
ties. How they regard the respective
issues passed on by them affects
directly any section of the country.
The report says, in part:
"The timber and lumber business is
of greater magnitude than is general
ly recognized. It normally gives em
ployment to more wage-earners than
any other manufacturing business In
this country. It stands at the fore
front, in the business activities of many
of our states. It has been said that
approximately one man in every 36 in
this country is employed in lumber,
timber and associated industries. The
pay roll of the business in the United
States is figured at close to $370,000,
000 per annum, and it is estimated that
lumber furnishes the railroads with
more cars of freight than any other
single industry, and is second only to
coal in the actual tonnage produced.
"You, of course, know that the lum
ber business is divided into a great
many different branches, based on the
woods growing in various parts of our
country and used for different pur
poses. Outside of a very few varieties,
the, trade generally has been passing
through one of the severest depres
sions it has ever known.
"The causes of this depression are
largely linked with the general busi
ness situation, but they are conditions
peculiar to the industry alone which
we desire to review.
"Broadly speaking, for the last 15
years timber has been rising in value,
with the result that many people have
engaged in the business who pos
sessed very little knowledge of its
practical workings; many more milling
plants have been erected than were
needed, except in exceedingly good
times, and in the present depressed
times over-production has resulted.
Men already in the business have
feared that they would lose the raw
supply of timber tributary to their re
spective mills, and. desiring to give
their plants as long lives as possible.
they have bought more raw timber
supply than they should, with the re
suiting over-expansion of their credit.
"The lumber business is one of the
few large manufacturing industries
carried on Dy thousands of independ
ent operators. It being estimated that
there are 4S.O0O sawmills In the United
States. With over-production -a recog
nized fact, it has been Impossible to
secure co-operation in stopping this
over-production, because of tho im
mense number of people involved and
the feeling thac any agreement to cur
tail might be unfavorably viewed by
the courts. Added to these unfavor
able factors have been the general In
dustrial depression and curtailment
and the greatly decreased purchasing
power of the railroads, which are the
largest lumber buyers."
APPLE REPORT ISSUED
FEDERAL StTlVEV SHOWS CO-OPER
ATIVE MARKETING BEST.
THIS NATIONAL BANK
Is a member of the
Federal Reserve Sysiem
of banks.
This means that this bank is one of a vast
army of banks which stand together to pro
tect each other and their depositors.
. ' "In union there is strength."
Your money is safe with us. You
can get it when you want it.
The United States National Bank
Third and Oak Streets Portland, Or.
Capital and Surplus $2,000,000.
Methods of Growers Association Com
mended Balk of Shipments
Prove to Be Loss.
WASHINGTON. Sept. 20. Effective
co-operative organizations afford the
best means for profitable marketing
of the country's increasing apple crop.
according to a survey of marketing
conditions in, the industry just pub
lished as bulletin No. 302, "Apple Market-
Investigations, 1914-15." by the
United States Department of Agricul
ture.
In states where apples are boxed In
stead dt barreled, growers associations
handle a large percentage of the out
put, and-In securing uniformity in the
pack and advantageous distribution
are more successful than individual
producers in other sections. Where in
dividuals act independently there is
little uniformity in grading and much
poor fruit is shipped, which, in sea.
sons of large production such as 1914,
cannot be disposed of profitably.
Observations in the Chicago market
showed that 25 per cent of the arrivals
in carload bulk, or the equivalent to
350 carloads, and 10 per cent of the
barrelel shipments, the equivalent to
about 160 carloads, were of such poor
quality that the price would not have
paid the freight charges had these ap
ples been shipped by themselves. By
throwing out this poor fruit, the farm
ers would not only have saved the cost
of packing and shipping, but would
have' cleared the market for their good
stock. Similar conditions were found
elsewhere.
In this connection it is said that the
grade and package laws now In opera
tion In a number of states are prov
ing effective in stabilizing the market.
Uniformity in state legislation of this
kind, the authors state, is, however,
most desirable.
The effect of the war upon the In
dustry has been found to be less dis
astrous than was apprehended. Be
cause of the cheapness of the fruit.
consumption was stimulated until the
exports far exceeded expectations. The
German ports being closed, large quan
tities were shipped direct to the Scan
dinavian markets for the first time
and trade with South America has also
Increased greatly and should continue
to do so, especially if the growing trade
in meat products affords additional re
turn facilities for shipment. Careful
selection, grading and packing by hand
is, however, essential to the delivery
of the fruit ir good condition and only
stock that may be classed as "fancy"
or "extra fancy" should be exported to
South American ports.
-Criticism of the Teacher.
Kentuckian.
The Wild Onion schoolteacher was
The
Canadian Bank
of Commerce
HEAD OFFICE
Toronto, Canada.
Established 1867.
A general banking business
transacted.
Interest paid on time deposits.
Commercial Letters of Credit
Issued.
Excbansre on London, England,
Bonckl and Sold.
PORTLAND BRANCH,
Corner Second and Stark Sts.
F. C. MALPAS. Manager.
The First National Bank
OF PORTLAND, OREGON
Offers to the public all the advantages
-' of an old, reliable and well connected
institution. It seeks to characterize
every transaction with integrity,
promptness and courtesy.
Capital and Surplus -
$3,500,000
THE BANK OF CALIFORNIA
NATIONAL ASSOCIATION
of San Francisco. Founded 1864
Capital paid in g-old coin
-Surplus and undivided profits .
.$8,500,000.00
. 8,232,962.26
Commercial Banking.
Interest paid on Time and Savings deposits.
' PORTLAND BRANCH, Corner .Third and Stark Sts.
YVm. A. MacRae J. T. Burtchaell
- Manager. Assistant Manager.
mixing: and mingling- with friends and aiona but um,ii r ti... it.
acquaintances at Dog- Hill Sunday. The lny collar ia always too bl for his
teacher looks well on special occa- derby.
THE BEST EVIDENCE OF OUR CONTIN
UAL AND RAPID GROWTH IS THE GREAT
NUMBER OF SATISFIED CUSTOMERS
WHO ARE DOING BUSINESS WITH US.
THE
NORTHWESTERN
NATIONAL BANK
TRAVELERS (iflDE.
San Francisco
Los Angeles
(Without Chance Eln Route)
I'be His,
Cieaa,
Comfortable,
bllexaatly Appointed,
ScuicoinK Steamahip
S. S. BEAR
Sails Krom Alnaworth Dock
A. 31., jEFTEMBER SO.
10O Golden Miles on
Colombia Klver,
All Kates Include
Uertbs and Meals.
Table and Service
I Dei veiled.
The San Kranetsco Portland S. 9.
Co.. Third nnd Washington Streets
Iwlth 0.-W.R.4N.CO.) Tel. llroad
wnjr 45UO. A 6121.
The Superior Merits
of Our System
Will be self-evident if given a trial. A commercial
and savings department at your service.
4 Interest Paid on Savings Deposits.
MERCHANTS NATIONAL BANK
Founded 188G
Washington and Fourth Sts.
31.
"CHEAT NORTHER V
"SOUTHERN PACIFIC"
Tiot'ji "Palaces of the Pacific"
Every Tuesday, Thursday. Saturday for
SAN FRANCISCO
ISO Round Trip. On way. it. tli. 120.
Including Meals and Berth.
Only 2e hours at sea. Delightful scenle
ride alone; Columbia River on steamer train
from North Bank Station, 8:3u A. - M. Ar
rives 4:25 P. M. Sunday. Wednesday. Friday.
NORTH BANK TICKET OrFTCK,
5tb and Blurs 1'uonea UUwy. 8SO. A 67L
Freight and Pssseaser
STKAAlKltr. TO THK DALLES
and Way IaDdinrs.
"BAILEY GATZERT"
Leave furttand daii ti I a. M escapt
Sunday and Monday bunday r&curaioaa
to Cascade Lock leave 0 a. M.
"DALLES CITY"
Leaves Portland 'lue.ds. Toursdsv end
Sunday at 7:00 A. M
Kunday Cascade - Lorlcn Excursion. 31.
I'are to l'b Dalles sntl Return S3.
AI.DKR-Sf. DOCK, PORTLAND
rbonea Mala 814. A fill.
RELIANCE
MT. HOOD AUTO STAGES
Dally to Mount Hood resorts S A. M
Kound tr.p $i; Qov. Csmo $7.5.
bpecial rates for week-end and climb
Ins parties. Information, reservations
and tickets at
KOI'TI EWiK SKED FLORAL CO
1 M St. Mala 6956. A S1L
Or Irvlnston Osrsse. East lis.
TRAVELERS' GCID"..
FRENCH LINE
Compacrnle Generate Transatlantlqae.
POSTAL SERVICE.
Sailings Frum NEW YOilK to BORDEAUX
ESPAGNE Oct. 2,3 P.M.
ROCHAMBEAU Oct. 9,3 P.M.
CHICAGO Oct. 16. 3 P.M.
LA TOURAIXE Oct. 23, 3 P. M.
FOR INFORMATION APPLY
C. IV. Stinger, SO 6th St.. A. 1. Charlton.
tSo Morrloa t,; E. K. riarritton, C. M. & hi.
P. Ky.j lorsey H. Smith, lis Sd St.: K. L
liaird. 100 3d St.: 11. Uirkson. S4S Wash,
inston St.; North Hank Road. Sth and Sta -k
Is. j F. S. McKsrland. 3d and vYahlns;toa
sts. K. 1. ltuffy. 124 Sd St.. Portland.
NORTH PACIFIC STEAMSHIP CO.
San Francisco
SANTA BARBARA. LOS ANGELES
AND BAN DIEOO
S. S. ELDER
Halls Wednesday, Sept. 29, P. M.
.COOS BAY
CREKA AND BAN FRANCISCO
S. S. SANTA CLARA
Sails Wednesday. Sept. 9. P. M.
Ticket Office 122 A Third St.
Phones Main 1314, A 1314
AUSTRALIA
NEW ZEALAND AMI SOUTH SILAS.
Recular. throuKh salllti tnr u.rln.v vi.
Tahiti and Wslllnston fitm Kan h r. n -t.-
October 33. November 10. December a, snd
- - ovi. MDa ior pampnist.
Colon Steamship Co.. of New Zeiilsad. Ltd.
Office ? MSrket llnwL Kiln Kr.nrl.
sr local a. a. and is, R. agents.
American-Hawaiian Steamship Co.
Between
Ft-rtland
New York
Boa ton
C. D. Kennedy. A at- XJo HUtrta 8t Portland.
COOS BAY LINE
Steamer Breakwater
Account of Repairs"
Sailing Dates
Indefinitely Postponed
Hflfc. . - TT' MV . 7'