TITE MORXIXG OREGOXIAN. THURSDAY, DEUiiJiBER 2G, 1018.
U. S. CAPITAL ISSUES
COMMITTEE TO QUIT
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Activities to Be Suspended on
December. 31.
WARNING GIVEN TO PUBLIC
Chairman Announces Legislation to
Be Asked to Curb Worthless Se
curities; Peace Economy TTrg-ed.
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WASHINGTON', Dec 25. The capital
Issues committee of the Treasury, the
Government's war agency for the sup
pression of unessential security issues.
announced tonight that It would rus-1
pend activities on December 31,- and
remain Inactive until dissolved, unless
called back Into service by develop
ments. Accompanying the announcement
were warnings to the public, both from
the committee and Secretary Glase, of
the necessity for continued strict econ-
omy and against worthless securities.
The committee stated Its Intention of
making a supplementary report to
Congress recommending a law to pre
vent Impositions upon the Investing
public and Secretary Glass said he
would ask the present Congress to
enact such legislation Immediately. To
illustrate the extent of the menace
the committee says schools were being
established to drill salesmen m the
art of fraudulent promotion.
Charles S. Hamlin, chairman, made
this statement for the committee:
Economy Held Imperative
"Although the war emergency which
save rise to the creation of the com
mittee has passed, it is nevertheless
imperative that capital should be
saved and not wasted, and the removal
of the restraining influence exerted by
the committee during Its existence
.should not be construed as approval of
the financing of unnecessary public
projects or private enterprises of
rloubtful merit. On the contrary, the
iinancial needs of the Government and
the large capital requirements of the
railroads and for the readjustment of
American industries to a peace basis
compel strict economy In the use of
new capital.
"While legitimate business may be
left safely to work out its own prob
lems, the capital issues committee feels
that it would be unfaithful to Its re
sponsibility If it fail-d to warn the
public respecting the enormous losses
sustained by the Nation through the
siale of worthless and fraudulent se
curities. In the opinion of the commit
tee, the sale of such securities should
lie restrained In times of peace as well
ns In war, and strongly urges that Con
gress establish adequate machinery to
put a stop to this traffic.
'The capital Issues committee warns
the public and earnestly directs the
attention of Congress to the problem.
"The committee will maintain its of
fices in Washington until further no
tice." Legislation to Be Aked.
Secretary Glass' statement In part
follows:
"My chief r. lsgiving In accepting the
action of the committee arise out of
the need the committee has frequently
expressed and the Importance of which
lias become increasingly obvious, of
protecting the public investor against
-.he flood of worthless or doubtful se
curities which threaten the market
vhen the restrictions are removed,
rresent conditions emphasize the im
portance of obtaining emergency legis
lation as speedily as possible, so as to
be able to cope effectively with this
ovil. The Government not only should
protect Itself as to future bond issues,
but as well owes a duty to the millions
of liberty bond buyers to restrain reck
:ess and fraudulent promoters, particu
larly at this time.
"I Intend to ask Congress immedi
ately for legislation that will check
rhe traffic in worthless securities,
while imposing no undue restrictions
upon the financing of legitimate busi
ness, and shall urge that it be made ef
fective before the close of the present
session. Meantime, it may become
necessary before such legislation Is
passed to. reassemble the committee
i'or the rmrpose of resuming its functions."
POSSES PURSUE CONVICTS
MEX FLEE WITH DAUGIITER OF
WEALTHY CATTLEMAN.
3fote Dropped by Girl Indicates That
Escapes Are En Route to
Mexican Border.
TUCSON. Ariz.. Dec 25. Posses from
four counties today are searching the
mountains of Southern Arizona along
the border In an effort to capture two
convicts who escaped from the State
Penitentiary at Florence Monday
night, kidnaped the 17-year-old daugh
ter of a Pinal County cattleman and
are making their way to Mexico in a
stolen automobile.
The kidnaped girl Is Laura Fore
man, and a note which she dropped ad
dressed to John Buck, of Greaterville,
asking for help, furnished the first
clew to the whereabouts of the party.
The convicts, J. C. Wunder, alias
Frank Warden, convicted of burglary
in Maricopa County, and Emmett Mc
Daniels, a convicted horse thief from
Douglas, had been "honor men" for
some weeks, but fled Monday night in
A motor car taken from the Peniten
tiary garage. Going to the Foreman
home, they abducted the girl and are
.said to have picked up a woman from
Phoenix at a rendezvous agreed upon.
' The note dropped by the girl said
they were making their way to No
Kales, on the border.
MILL HAS HUGE CAPACITY
Tidewater Plant at Tacoma Nearly
Ready for Operation.
TACOMA. Wash., Dec. 25. (Special.)
The Tidewater Mill Company will
have Its 100,000 daily capacity mill in j
operation nere wnnin a momn. m ne
mill represent an outlay of J200.O00.
The company will cut for export and
will be one of the three or four mills
on the Coast with facilities for getting
out the largest of timber. The Tide
water mill is equipped to cut sticks up
to 130 feet In length. The mill property
has a frontage of 7S0 feet on deep
water and ample space to accommodate
several ships. Sixty per cent of the
output will be for cargo trade and the
remainder will be distributed locally.
The mill company is capitalized at
$150,000 and its officers are: J. T. Greg
ory, president; Y. S. Thomas, vice-president;
E. V. Wintermote, treasurer, and
FrankcD. Oakley, secretary.
Phone your want ads to The Orego
lan. Phone Main 7070, A 60'Ja.
ltl&v - Second Annual
wMSr Clearance Sale
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Wm Suits, Coats,
MfchM) Dresses and
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Our Policy
With the close of each
season our merchandise
must be entirely dis
posed of, regardless of
former prices. This
sale is made still more
important with this end
in view. The Liebes pol
icy is to never carry any
stock over from one sea
son to the other. Hence
these extraordinary
price reductions.
Blouses
Beginning This Morning
Women who are aware of the extraordinary values of fered at all of Liebes Sale Events
may come to this sale with full assurance that never before have the reductions been so
great. To those of the public unfamiliar with our methods, these values will prove in
deed most surprising-.
The Reductions Are Greater Than Ever
Because of our policy of never quoting comparative prices, we cannot tell you what
these reductions mean in dollars and cents. The Prices, and the Garments must Speak
for themselves.
Values Greater Than Ever
Those who have admired special models in Liebes stock will do well to come promptly at
9 o'clock Thursday morning to make their selections, as these extraordinary reduc
tions will insure a rapid disposal of garments.
Suits at Special Clearance Prices
A wide selection of unusual styles of the standard LIEBES quality and smartness repriced
at truly wonderful savings. Serge, Gabardine, Velour, Oxfords, and many novelty
fabrics, in the season's most favored shades, all splendidly tailored.
$19.75, $26.85, $33.85, $38.85, $48.85
All of Our Higher-Priced Tailleurs Reduced to But a Fraction of Their Former Prices
Second Floor.
Coats Priced for Clearance
Coats that have been again Repriced for this Great Event, until now the Reductions are
Most Extraordinary. Every Model is Characterized by the Excellent Workmanship and
Unusual Materials which are always to be found in LIEBES Garments, Velour, Pom
1 Pom, Silvertone, Burella Cloth, and Mixtures in all of the Prevailing Shades.
$24.50, $29.50, $34.50, $39.50, $49.50
Again You
Profit
By the assurance that
every garment in this
great sale, or, in fact,
any sale we ever an
nounce, is from our
regular stock. No gar
ni en ts specially pur
chased for the occa
sion. Plainly speaking,
you will no doubt see
garments here today
reduced for final sell
ing that you admired
only recently. Now
priced much lower.
Remarkable Reductions on All Exclusive Coat Models.
Second Floor.
Dresses Reduced to Insure Quick Disposal
Hundreds of Smart Frocks in Models of Every Type All bearing the Characteristic Exclusiveness and Distinction .which are typical of
LIEBES Garments. Frocks for street wear of Serge, Wool, Velour and Tricotine, cleverly tailored. Frocks for afternoon and evening
wear of Georgette, Satin, Lace and Tulle, in Exquisite Beaded and Embroidered effects.
$16.75, $19,751 $26.75, and $45.00
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All of Our Exclusive Model Gowns Are Placed on Sale at Reductions Far Below Those of Any Previous Sale Event.
Third Floor.
0
Blouses at Clearance Prices
Georgette C
this season
Crepe and Crepe de Chine models in almost unlimited variety, including every kind of Blouse favored by fashion
. Tailored, lace trimmed and embroidered styles in white, flesh, bisque and suit shades.
$2.95, $3.95, $4.95, $5.95
One-quarter Off on All Blouses Marked $15 and Over.
Main Floor
Established in 1864 77 7" 77") O
149-151 Broadway Jj LXVO
Charge Purchases
Made tomorrow and balance of the month will
be charged on January bills, payable February lsf