THE MORNING OREGONIAX. FRIDAY, AUGUST 31, 1917.
9
3573
99
( Number, 5 )
Operating revenues $3,206,033
Operating expenses, taxes, bridge tolls and depreciation 2,793,210
Net operating income . . ; $ 412,793
Fixed charges and interest on street improvement bonds. . 717,162
0
THE VALUE OF THE PROPERTY OF THIS COMPANY DEVOTED EXCLU
SIVELY TO THE STREET RAILWAY AS DETERMINED BY THE PUB
LIC SERVICE COMMISSION, AS OF DEC. 31, 1916, WAS $18,233,371.
The same items as valued by the Commission were appraised by engineers in the
employ of the company at more than $23,000,000.
The figures given, in both cases, include the proportion of the company's invest
ment in electric generating plants required to furnish electric energy to
operate the street railways.
The actual results of operation of the street railway for the fiscal year ended June
30, 1917, were as follows :
Operating revenues ' $2,787,853
Operating expenses, taxes, bridge tolls and depreciation (at'
rate determined by Public Service Commission) 2,282,381
Net operating income $ 503,27-1
Deductions
Street railway proportion of interest and discount
on funded debt $668,176
Interest on street improvements, assessments
still unpaid 48,986 717,162
Deficit $ 212,088
Approximately 70 per cent of the total value of the street railway is represented
by funded debt. The remaining 30 per cent represents the investment of the
stockholders.
THE STREET RAILWAY FOR THE FISCAL YEAR SHOWN FAILED TO
EARN INTEREST ON 70 PER CENT OF ITS VALUE AND THE STOCK
HOLDERS NOT ONLY FAILED TO RECEIVE ANY RETURN UPON
THEIR INVESTMENT BUT SUSTAINED THE ADDITIONAL LOSS OF,
$212,088.
The operating costs for the last fiscal year may not be relied upon in forecasting
the future. During the course of the year costs of labor and materials have
steadily increased, and we are able to estimate within a very small margin the
cost of operation for the year ending June 30, 1918, based upon present prices
for materials and labor costs.
We hope and believe the traffic of our street railway for the present fiscal year will
be 15 per cent greater than during the last fiscal year.
We are now operating 13.4 per cent more streetcar service than at this time last
year.
If compelled to operate on present fare basis, and assuming cost of operation on
present basis, without any allowance for the increases now requested by our
street railway employes, the current fiscal year would result substantially as
follows: , i
Deficit .$ 304,369
THERE W OULD BE NO RETURN WHATEVER ON THE STOCKHOLDERS'
INVESTMENT AND A FURTHER LOSS OF $304,369 TO ABSORB.
Now consider that, because of increased 'cost of living, we are faced with requests
for increases of wages for our street railway employes aggregating more
than $600,000 annually, that materials and supplies required in operation and
maintenance are still rising in cost, and ask yourselves if we are correct in
saying
THE NICKEL CAN NO LONGER CARRY THE LOAD
The net return for the street railway for the year ended June 30, 1917, on its value
as determined by the Public Service Commission was 2.77 per cent.
On basis of present costs and earnings the net'return on the same valuation for the
present fiscal year would be 1.35 per cent.
IF RECOGNITION SHOULD BE GIVEN THE NEEDS OF OUR STREET
RAILWAY EMPLOYES AND THE FARE BE NOT INCREASED THE
OPERATING EXPENSES WOULD EXCEED THE GROSS EARNINGS
AND THE DEFICIT FOR THE CURRENT FISCAL YEAR WOULD BE
MORE THAN $900,000.
Bear in mind the value determined by the Commission is most conservative. If
there ever was any water in our values the Commission certainly squeezed it
out, and, without in anywise reflecting upon the sincerity and competency of
the Commission, we believe that with the water, if any, it squeezed a liberal
amount of blood.
Operating expenses, taxes and interest on borrowed money must be paid.
Failure to do so means bankruptcy and the confiscation of the investment of 7000
bondholders and stockholders.
STOCKHOLDERS HAVE RECEIVED NO RETURNS ON THEIR INVEST
MENT FOR MORE THAN THREE YEARS BUT. ON THE CONTRARY,
HAVE PAID INTO THE TREASURY IN THAT TIME $2,500,000 OF ADDI
TIONAL CAPITAL TO PRESERVE THE COMPANY.
They are entitled to consideration.
Permit us modestly to assert that the present unhappy situation is not due to
extravagance or incompetency in either financing or managing. It is caused
entirely by the fact that the ingenuity of man is no longer able to cope with
the increased cost of furnishing you the service for the same compensation you
paid us when the cost of furnishing transportation was one-half what it is
today.
(Number 6 will appear Saturday).
Portland Railway, Light and Power Company
By FRANKLIN T. GRIFFITH, President.
CHINESE COME OUT
Orientals Who Have Been in
l Hiding Emerge for Truce.
LASTING PEACE POSSIBLE
deader Believes That Armistice
Will Be Forerunner of Pact
i That Will End "Wars in All
EL
i Pacific Coast Cities.
Portland's Chinatown took on a new
appearance last n.ght after the ten-day
armistice which has been entered into
by the warring tongs of the city be
coming effective.
Last night, when the bulletin was
posted on the wall opposite the police
station announcing: the truce, Chinese
that have been in hiding for the past
several weeks emerged from their
rooms and appeared on the streets.
While there Is no danger of an out
break among- the tongs of Portland the
next ten days, there is a possibility of
warfare being renewed as soon as the
truce expires.
Lee Mee Gin, head of the Chinese
Peace Society 1n Portland, was instru
mental in getting the members of the
warring tongs to sign the armistice,
lie is optimistic regarding the possi
bility of permanent peace.
While the Bing Kong-Bow Leong
tongs are still seven men behind the
Hop Slng-Suey tongs in the number of
fatalities, it is thought that this debt
will be settled in money Instead oi
human life.
It is understood that a prominent
member of the peace society will soon
arrive in Portland to try to effect a
permanent peace pact, and It is thought
that it will be possible to have this
agreement reached before the truce expires.
HOTEUEti RENEW FIGHT
17.50 DIFFERENTIAL AVI LI. BE COX
TEStED AX SEW UE.UUXG.
and the ruling has been in vogue since
April.
An order from the Commission, re
ceived here yesterday, was discussed at
a meeting of the Oregon State Hotel
Men's Association, held in the Multno
mah Hotel and presided over by R. W.
Childs. It was decided to be repre
sented at the hearing, which has been
fixed for 10 A. M. September 17, at
Seattle, by attorney. Examiner Mar
shall will hear the case for the Com
mission. A delegation of local hotel managers
will be sent to attend the Pacific Coast
Tourist Association, to be held in San
Francisco September 25-26. A. T.
Lundberg. manager of the Benson; E.
E. Larrimorc, of the Oregon: H. H.
Oloutier, of the Multnomah, and Victor
Brandt, of the Carlton, were named.
W. J. Hofmann, representing the
Shrlners, "appeared at the meeting to
interest the hotel men in providing
funds for bringing the Shrine conven
tion to Portland in 1919. This will be
supported strongly by the association,
it was decided. A committee will be
named later to attend to it.
INCREASE INSISTED Oil
SHIPBUILDERS THUEATEV STRIKE
IF GOVERNMENT DELAYS,
Assistance to Be-GIvea Shrlners la Ef
fort to Brine 1919 Convention to
,'i Portland for Seaaion.
Because the Southern Pacific Com
pany has succeeded in obtaining a new
bearing upon the celebrated case of
the $17.50 differential formerly charged
tourists who wished to come to Port
land or Seattle from California, hotel
men of Oregon and Washington must
put up another fight to retain the pres
ent condition. The Interstate Com
merce Commission once ordered the
tije settled in favor of the hotel men
Owner Willing to Grant Rise If Ex
pense Will Be Allowed on Con
tract Price of Ships.
Unless the Federal Government
grants liberal wage increases to the
men employed in shipyards working on
Government contracts or on vessels
commandeered by the Government, the
men say the yare going to strike.
It is apparent that the men will con
tinue to work under existing condi
tions for a reasonable length of time,
but many of them are growing im
patient over the Government's seem
ing delay. The union officials are urg
ing them to stay at work until the
Government acts.
They point out that existing con
tracts were made most of them a
year ago, some of them more than a
year ago and all more than six months
ago. Since then the cost of living has
advanced more than SO per cent for
the men employed in the yards.
Meanwhile, too, the Government has
taken over the work on all vessels
under construction and has placed ad
ditional orders with the yard3 for its
own account. These vessels were con
tracted for on the basis of the then
existing conditions and the then ex
isting wage scale.
Now the operators are ready to grant
liberal concessions to the men. but
I they want the Government to make
allowances for such increased ex
penses. The Federal authorities have
appointed a committee to inquire into
conditions and recommend action. The
committee now is at work at Wash
ington. r. C.
On the promptness with which this
committee concludes its investigations
depends the continuity of work in the
local yards.
FARRELL WILL Ifl SUIT
RELATIVES OF DECEASED ASSERT
CLAIMS TO ESTATE.
Mrs. John B. Yeon, Chief Beneficiary
of Probated Instrument, Said to
Have Influenced Testator.
On the charge that John B. Teon,
Mrs. Elizabeth x eon, and Mrs. Mary
Mock, motner of Mrs. Yeon, poisoned
the mind of Mrs. Anna Kliza Farrell.
deceased, against her brothers and
sisters to such an extent that they
were practically cut off from the "0.
000 estate left by. Mrs. Farrell, a con
test was started in the County Court
yesterday against the estate. The
plaintiffs are Lydia Lott, Harriet Pad
dock and Albert Sunderland, sisters
and brothers of the deceased Mrs.
Parrel I.
The petition to set aside and vacate
the probate of the will, sets forth that
Mrs. Farrell had made a former will
in which the plaintiffs and other rela
tives, for whom they are bringing suit,
were made beneficiaries. It is alleged
that Mr. and Mrs. Yeon exercised undue
influence over Mrs. Farrell, who had
suffered a paralytic stroke, and induced
her to make out a new will, cutting
off the petitioners with 1 each, leav
ing the balance of the property to
Mrs. Elizabeth Yeon.
The petition further alleges that
while Mrs. Farrell was under the care
of her sister, Lydia Ixtt, a letter was
received from Mrs. Yeon commanding
Mrs. x arrell to leave her sistlr. At
that time, the petition asserts, Mrs.
Farrell made the statement that she
would have to die and leave her prop
erty to Mrs. Yeon In order to have
peace.
Mrs. Farrell died March 1, last, leav
ing a will in which Mrs. Yeon was
made the chief beneficiary. Mrs. Yeon
was also named in the will as executrix
to serve without bonds. She was ap
pointed under an order signed by Judge
Tazwell. March 12.
The petitioners allege that they are
entitled to a one-eighth interest each
in the estate and would have received
such legacy had not Mr. and Mrs. Yeon
and Mrs. Mock induced Mrs. Farrell to
destroy a former will.
In addition to the petitioners It is
asserted that the following relatives
are entitled to a portion of the estate:
Milton Sunderland. Ttose Guypton,
Mary Mock, Frances Fleckenstein and
the children of Mrs. Christina Kelly, a
deceased sister of Mrs. Farrell.
Kev. A. F. Bishop Recovers.
Dr. Arthur F. Bishop, who has been
ill for several months, has recovered
and will be back in his pulpit in Cen-
J tral Presbyterian Church on Sunday
can complete the work in their home
section before coming to the Columbia
River. Indian Frank, chief of the
Puyallups, is delighted with the pros
pect and wants the tribe to make the
trip by water, via Puget Sound and the
Pacific Ocean to the Columbia.
TILLAMOOK FAIR OPENS
Interest Centers in Barpe Exhibit of
Livestock.
INDIANS TO PICK BERRIES
Members of Puyallup Tribe to Go to
Lower Columbia District.
ASTORIA. Or., Aug. 30. (Special.)
W. M. Round, acting for the cranberry
growers on the ".."ash ington side of the
Columbia River, has made arrange
ments to have the Indians of the Puyal
lup tribe come to the Ilwaco Penin
sula during the cranberry picking sea
son and help harvest.
The berry-picking season in the Puy
allup district will be over when the
cranberry season, begins, so the Indians
TILLAMOOK, Or., Aug. SO. (Special.)
Tillamook's annual County Fair
opened yesterday and promises to be
a marked, success. There is a big ex
hibit of livestock and a lively interest
is being shown In the different breeds Maryhill
of cattle. The attendance is expected
to be larger tomorrow and the later
days of the fair
There are concerts by a bagpipe band
and there are interesting horse races.
There was a ball game yesterday, in
which Tillamook evened up old scores
and beat Wheeier, 7 to 6. The feature
of the game was a three-bagger with
tho bases full by Charles Mahan.
SAMUEL HILL TO GIVE BALL
Residents of Klickitat County Are
Invited to Maryliill.
WHITE SALMOX, Wash.. Aug. 30.
(Special.) Saturday evening. Septem-
ber 1, the mansion of Samuel Hill, at
xr...i.iii T - ;.!.:.... . ... i - i. ;
-rvin Mini .ouniy, HhinnK
ton, will be the scene of a grand ball,
an invitation affair for the residents
of the county, to whom a large num
ber of invitations have been sent, that
will be well attended. Those who go
in their cars will alight within the
residence. as the driveway passes
through the building.
This residence of Mr. Hill, on the
heights, affords a broad panoramic
view of the Columbia Kiver and of
Oregon and Weshington. One of the
finest hard-surfaced highways in the
state leads from the North Bank sta
tion to his residence.
Auxiliary to Meet Tonight.
The Women's Auxiliary of the Tort
land Ambulance Company, Dr. J. J
Seilwood. captain, will meet at Man
chester Hall, R5 4 Fifth street, tonight
at S o'clock. All interested are cordial
ly invited to Httend.
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For Labor's Holiday
Up tHe Willamette Valley:
Reduced Round Trips to Valley Cities
on Oregon Electric Railway. Good
going; Saturday and Sunday, return-
ing Monday. . Also tickets sold Mon
day, return limit Tuesday.
Aquatic Sports and Regatta at Astoria
Saturday, Sunday, Monday. Round Trip, $3
Clatsop BeacK GearKart and Seaside
Escape the smoky town and enjoy the
ocean breezes. Fashion show on the
beach Sunday afternoon.
Scandinavian-American Annual Picnic
at Holladay, near Seaside, Sunday.
Tickets sold Saturday and Sunday, return Monday
Tickets Sold Monday with return limit Monday. Round trip $3
DescKutes River Up tEe Columbia
The Stream for the Sport Royal
Week-end Fares to Canyon Points
Visit the Mineral Springs at Carson;
?2.20 Round Trip.
Round-Trip Tickets, one-day limit, sold Monday
to North Bank points east to Stevenson
City Ticket Office Fifth and Stark Streets
MOTHER SAID
TRY IT
Lydia E. Pinkham's Vege
table Compound Cured
Mrs. Copner after
Doctor's Failed.
IP&WH
Cincinnati, Ohio. "I want you to
know the good Lydia E. Pinkham'a
Vegetable Com
pound has done for
me. I was in such
bad health from fe
male troubles that
T 1.1 1 1 A.
IX ,4 yi my hed. I had
oeen doctoring lor
a long time and my
mother said, 'I want
you to try Lydia E.
Pinkham's Vege
tableCompound.' So
I did, and it has cer
tainly made me a well woman. I am
able to do my house work and am bo
happy as I never expected to go around
the way I do again, and I want others
to know what Lydia E. Pinkham's Veg
etable Comoound has done for me."
Mrs. Josib Copner, 1668 Harrison
Ave., Fairmount, Cincinnati, Ohio.
too woman suffering from any form of
female troubles should lose hope untiL
she has given Lydia E. Pinkham's Vege
table Compound a fair trial.
This famous remedy, the medicinal,
ingredients of which an derived from
choice roots and herbs, has for forty
years proved to be a mo : valuable tonic
end iavigorator of the ft male organism.
Both Men and Women
Suffer with backache, pain in kidney
and bladder regions, headache, ver
tigo, dizzy feelings and sometimes fail
to recognize where the trouble lies.
Congested kidneys cause a lot of dis
tress, and should never be neglected.
Take
'.uiwiiiiwiuiiiuiMwiiMiiimiiMauijiuiwiwwiira
right away if you would be well and.
free from distress after urination, such
as burning, scalding, pain and other
agonies.
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