TIIE MORNING OltECONTAN, 3IONDAT, - FEBRUARY 9, 1920
11
BETTER CAR SERVICE
IS HELD E
NT
Creation
' Study
of Committee
Problem Urged.
FARE RISE IS DISCUSSED
riven careful study to traction mat
ters not directly or selfishly Inter
ested either In our present traction
company or the property interests of
the city, to sit in, study and consider
the existing situation and finally pre
sent such a programme as will pro
vide a carfare with such a reduction,
if necessary, or removal of. alleged
unfair and Inequitable charges ag-ainst
the traction company, and with it the
betterment of such traffic conditions
as will Justify these changes.
IU i ThA afi-jkot far nmnftnv'a hllfllneBS
concerns every citizen, every resident
of Portland and the adjoining area.
Indeed the material well-being of our
state will be seriously affected if this
public service corporation is to go
upon the financial rocks. But there
are equities in the matter calling for
POM NOT HIT
BY
m
SUMP
Present Exchange Rate
Hurt Export, Belief.
Will
Writer Declares Company Ought to
Announce Its Attitude
Making Improvements.
PORTLAND. Or., Feb. 8. (To the
Editor.) Dear Bir:
Recent hearings by the public serv
ice commission of this state having
to do with the matter of Increased
car fares as a means of financial re
lief for our street car system will no
doubt evolve helpful recommend'
tions from the commission and others
concerned.
Prompted by 'the apparent absence
of any material testimony as to the
pressing need of service betterment at
this tim,e, the writer appeared before
the commission and in substance
stated as he now states:
.There are certain existing condl
tions he believes must of necessity be
remedied before actual increase in
fares will be tolerated by the car
users of Portland and vicinity. There
is no dispute over the company's fi
nancial distress; verified statements
by officers of the company certified
by the commission, by the arbitrators
who recently adjusted the wages of
car employes, and other sources, make
clear the need for additional operat
lne funds by the company at this
time.
But there is another angle to the
question: What are the people of
Portland, the army of workers obliged
to use street cars every working day,
business men dependent upon regu
lar and satisfactory car service to
bring the buying publio to their doors,
the taxpayers and property owneri
not in business, but wttose material
interests rest upon the continued
growth and orderly progress of our
city, to expect in the way of relief.
if and when, the proposed Increase in
car fares becomes an accepted fact.
Compaay'a Attitude Cited.
No programme, no plan no definite
statement, has thus far been offered
by the company which would indicate
that they contemplate more than
meeting wage increases, existing
overhead expenses, placing the se
curities of the company in a more at
tractive status, and to meet without
further borrowing interest payments
on outstanding loans.
. It is trite to say at this time that
the company's car service is lnade-
r f
t t
4 j . .wv.wJ!wy..)ap,a ,
IlilliiiSI
'I (IIIHII y J"
LOW PRICES "MAY RESULT
The Peasleya photo.
A. L. Dealt, manager forelga
exchange department, Ladd fc
Ttlton bank.
more consideration than merely the
Immediate financial distress of the
corporation.
Very sincerely yours,
WILLIAM F. WOODWARD.
FRUIT BUSINESS GROWS
e 1 1 EUGENE GROWERS' ASSOCIA
TION INCREASES CAPITAL.
Report for 1919 Shows Enormous
Quantities of Goods Put Up
at Three Canneries.
EUGENE, Or.. Feb. 8. (Special.)
The Eugene Fruit Growers' associa
tion, which operates a cannery, an
ice plant, a box factory, a vinegar
factory, a large fruit evaporator and
an Ice cream factory, all in Eugene,
besides canneries at Junction City and
Creswell. increased its capital stock
quate; that, the crowded hours of the at the annual meeting of stockholders
uay witness, on many oi our mmue i yesterday from fiuu.uuu 10 .sdu.uvv.
and suburban lines, such a crowded I t present there are 781 stockholders
condition of the cars as constitutes a I ln the association, an inorease of 96
disgrace. rnis applies particularly ,h. n,.t Tear.
to the army of women engaged in ln-I tv,. .r,noi nnnrt of J. O. Holt.
dustrlal tasks, living and preferring manager, shows that business to the
to live as they have a right to and extent 0f I94M75.73 was transacted
should, in the suburban districts of by the association- in 1919 and that
the cross sales from tne canneries,
our city rather than the close-in
apartment house district, who by
reason of these conditions are ex
posed to discomfort, distress of body
and mortification day after day. The
writer will ask any one who may
doubt this statement that they wit
ness the over-loaded Mount Tabor.
Sunnyslde, Montavilla, Mississippi av
enue, lower Albina. St. Johns and
Sellwood car lines during the crowd
ed hours of the day, both morning
and night.
If our city is to grow, and its peo
pie truly prosper, good car service
with, normally, a seat for every per
son who pays car fare is eesential. To
day the strap-bangers are in the ma
jority. Cars are loaded to well-nigh
double their normal oapacity. In
tending passengers allow their usual
cars to pass them by because it is
physically impossible to add another
passenger, even to the foot-boards,
These crowded cars are not only a
menace, but cause unnecessary delay
in the loading and unloading of Jas-TotaI of 781.010 Acres In Wash-
cengeris.
Improvement IVeed Discussed.
The company stated that for several OLTMPIA, Wash., Feb. 9. (Spe-
years it has been unable to make clal.) The number of acres of state
needed improvements in tracks, exten- I land under lease in Washington has
evaporators, ice plant ana vinegar
plant amounted to 1889,556.24.
The canned paeK at tne aug-ene
nlant amounted to 68,073 cases, at
Junction Citv 7220 cases and at Cres
well, 6319 cases, making a total oi
so B78 cases. The total number of
boxes of green apples and 'pears
handled at Eugene, Junction City,
reswelL Irvine and Aldavore by the
association was 82,944. The output of
the box factory was 266,465 boxes, and
25,000 gallons of vinegar was manu
factured.
The total number of pounds or rruit
and vegetables canned and dried at
the Eugene plant in the year was
5,527,672, at Junction City, 348,168 and
at Creswell 636.531, making a total
for the three plants of 6.507.361.
LEASED LAND' DOUBLED
ington Under Contract.
sions, replacements or rolling stock.
Will these needed Improvements be
granted with an increase in car fares?
There baa been much agitation of
late over truffle conditions in what
is termed the congested center of
the city. One-way traffio proposed
as a remedy in part was objected to
by the company as applied to any
street with car tracks, on the ground
that such a change would involve the
installation of cross-overs and the
like at an expense of some 3200,000.
Will the proposed fare increase take
care of this condition and enable the
city to adopt a uniform and equita
ble one-way traffic system? The
writer finds no mention of it in all
that has been printed or stated thus
far.
Car users of this city, rich and poor.
and the merchants who are depend
ent upon the car service for the ma
jor portion of the business they re
ceive, are deeply interested in this
matter. The personal, moral, hygienic
and material welfare of our commun
ity largely hinge upon it.
The thought of municipal owner
ship of our traction lines does not
strike a popular chord. The records
of neighboring cities, no matter bow
brilliantly colored or skilfully ar
ranged, do not indicate that municipal
ownership is a desirable step. It will
be a sorry day for our city when it Is
undertaken, either in whole or in
part, as has been ' suggested, vis.:
ownership by the city of the tracks,
for the partial assumption or partial
ownership by the city would neces
sarily end at the boundary limits and
leave suburban lines, which run off
Into Multnomah and other counties, in
a position to vex us by the complicat
ed relations which would follow- city
ownership of tracks, company owner
chip outside of city limits.
Stndy by Committee Urged.
The writer is of the opinion, and
he bases It upon careful investigation
and Inquiry among those who are
obliged by virtue of their dally tasks
to use street cars, from merchants
who are. in the last analysis, depend
ent upon efficient car service for the
patronage which comes to their stores,
will not object to a reasonable and
necessary increase in fares if in re
turn there is clearly set out, without
possibility of quibble or evasion.
Changes and improvements which will
give to Portland the car service it
deserves now and in the future.
The writer casts no reflection upon
the publio service commission, which
has sincerely entered into the con
sideration of the various phases of
this matter. He does not question the
sincerity of the traction company of
ficials when he urges the creation of
a committee through and by our city
commission, composed of men and
practically been doubled during the
last six years, it was snown oy a -
nort iust compiled oy oiaie uwa
Commissioner Clark V. Savidge. At
present 721.010 acres or state iana are
under lease as compared with 483,319
acres in 1914. This showing is made
desnite the fact that thousands of
acres formerly under lease have been
sold at the expiration or tne leases
because of the increased demand for
srrazine and farming land.
On account of the growing demand
for land the commissioner is now able
to obtain an increase of from 26 to
200 per cent in rental upon all tracts
at the end oi tne lease term. Money
received from rentals is applied to
current expenses of schools.
Oil. gas, mineral, tioeiana or narnor
area leases are not inoiuaea in me
report.
Canadian, Municipal Bonds Paya
ble ln American Money GeV
. Impetus From Situation.
The foreign exchange situation is
the absorbing topic of discussion
among bankers. There has been no
direct effect upon the local financial
nnnriitinnn. but it la realized that a
continuation of the present exchange
rates must seriously impair export to
Europe with purchasing power of the
foreign buyers so heavily Impaired.
On the other hand, the buying of
goods in those countries naturally
will be very heavy for export to this
country and its possible effect upon
American products with which the
forelern manufacturers compete will
advertising service and represents the
fruit of exhaustive research and care
ful preparation.
.
Morris Brothers, Inc Is offering an
issue of 3250,000, 6 per cent gold bonds
of the City of Regina, Saskatchewan,
due March 1, 1923, in (1000 denomi
nations. Regina is the capital of the
province of Saskatchewan and is
served by three transcontinental rail
roads, the Canadian Northern, the
Canadian Paclfio and Grand Trunk
Pacific. It is surrounded by a very
prosperous agricultural section and
is the trading center for this rich
territory. The growth and develop
ment of Regina during the last dec'
ade is one of the most remarkable in
Canada's history of empire building.
Other bonds purchased by Morris
Brothers, Inc., include two issues of
City of Victoria, per cent gold bonds.
one issue of 1100,000 being due serial
ly, September 15, 1921 to 1930, the
other issue of 3160,000, due March 1,
1928. These Issues are being offered
to net 7 per cent. Several smaller
issues were also purchased and in
elude both provincial and municipal
Canadian bonds.
The weekly list of Morris Brothers,
Inc., shows a selection of unusually
attractive American and Canadian
bonds to yield from 1.50 to 7 per cent.
Among the American bonds is an is
sue of Shoshone county, Idaho, high
way district, which issue is in two
series, series A being due September
1, 1930 to 1939, and series B from
October 1, 1930 to 1939. These bond?
are offered on a 5.50 per cent basis.
The following statement has been
Issued by the Institute of American
Meat Packers:
'Annual reports of packing compa
nies up to this time Indicate that the
meat packing Industry in the United
be felt as soon as the foreign goods states during the year lust closed
showed an output of products having
a value in excess of 35,000,000,000. It
is estimated that the rate of profit
throughout the Industry averaged not
more than Vt cents on each dollar
of sales. The figures apply only to
those plants conducting slaughtering
or packing, or both, under federal In
spection. The total number of slaugh
tering and packing establishments at
the last date for which census figures
are available was 1791."
The very Interesting foreifm trade
figures for the month of December
and for the full year 1919 are sug
gestive in view of the extraordinary
developments In the foreign exchange
reach the trade.
Based on Saturday quotation for
foreien exchanre ln New York the
purchasing power of the American
dollar is as follows: London, 31.46;
Paris. 32.80: Antwerp. S2.75; Milan,
13.68, and Berlin, 322.50. . At par the
Enclish pound is 84,8665, which was
quoted at $3.34; the French and Bel
gian franc and Italian lire are worm
at par 19.8 cents ln United States
money, and German marks at par are
equal to 23.82 cents. Thus the ex
change rate made the number oi
French francs a dollar would buy on
Saturday 14.62. of Belgian francs
14.26, and of Italian lire 19, as com
pared with 6.1825 when all exchange
Is at par.
Dollar Worth 84.34 Harks.
The dollar at par will purchase
4.126 marks, but at the quotation of
Saturday a dollar would buy 94.24
marks. In other words, $10,000 of
American currency would buy $943
340 of German money,
One effect that is being felt in in
creased business for dealers in invest
ment securities is the stimulus that
has been given to the sale of Canadian
municipal bonds. These Issues are
made with provision for payment of
both interest and principal at New
York in American money, so that the
Investor has an absolutely safe In
vestment with the backing of the
Canadian government. But the dif
ference in exchange rates enables the
offering of these bonds at very at
tractive prices to yield more than the
usual interest return. Large sums
have been invested in this class of
bonds during recent weeks in Oregon
and Washington.
Normal Prices May Result.
There Is a feeling that the an
nounced decision of France to buy no
more goods ln the United States dur
ing the continuation of the unfavor
able exchange rate, and action by
England and other countries of the
same kind may have its ultimate ef
fect ln enabling American stocks of
merchandise to again reach a more
nearly normal level and give a swat
to the common enemy; Mr. High Cost.
-
Oregon headquarters of the war
loan organization for this state has
been opened in the Title & Trust
building on Fourth street. This or
ganization has charge of the sale of
treasury certificates of indebtedness
and war savings stamps and certifi
cates. Edward Cookingham has been
appointed director and: Robert E.
Smith assistant director for this state.
the selections having been announced
last week by John U. Calkins, gov
ernor of the federal reserve bank at
San Francisco.
Blyth. Witter & Co.. with offices ln
the Yeon building, are participating
in the 3.5,000,000 issue of the Con-
marine insurance bouses of New
York.
Mr. Deak is familiar with allied
fines of transportation, export trade
and insurance, as well as having
practical knowledge of foreign ex
change. During the past month Mr.
Deak visited the eastern correspond
ents of the bank, familiarizing him- I
self with the requirements ln the
way of facilities, and on his way to
Portland stopped' at San Francisco to
study the conditions there with rela
tion to conditions peculiar to the
Pacific coast.
LATE P. C. MILLER LAUDED
Philanthropy of . ex-Portland Man
Wins Praise.
"Philanthropy is written large in
the will of Frank C. Miller, capitalist,
filed for probate," says the Kansas
City Star of January 20. The author
of the will referred to was Frank
C. Miller, whose death occurred Jan
uary 14, and who established two
trust funds, each of $50,000, the in
come from which will go to the widow
during her lifetime and thereafter one
for a loan fund to aid needy students
of the University of Kansas and the
other for the aid of crippled children
of Mercy hospital, Kansas City.
Frank C. Miller was a student of
Kansas university, and npon complet
ing his education went into a bank
at Salina, Kan. He was very suc
cessful in guiding the institution
through a period of trying times. In
1890 he came to Portland and, with
Henry TeaL organized the United
States National bank, of which he
became the cashier. He sold his in
terests here to return to Kansas City,
where he became vice-president of
the Pioneer Trust company, in which
capacity he continued until obliged
to give up active duties because of
failing health.
Because of the unusual character of
the bequests and wide acauaintance
on mt. Miner during his residence in
Portland, the provisions of the will
are of special interest. It is provided
that upon the death of his wife
$50,000 left In trust shall be put into
a trust fund known as the 'Frank C.
Miller aid fund for the deserving: and
needy students of the University of
Kansas. The trustee (a trust com
pany) shall invest this fund in mu
nicipal bonds and out of the income
each year shall make loans to needy
and deserving students of the Uni
versity of Kansas. The chancellor of
the University of Kansas shall each
market and the efforts under way to I year appoint a committee of the fac
ulty to do Known as tne ranK (j.
Miller aid fund committee, and any
student or prospective student, may
apply to the committee for a loan,
the size of which is to be determined
by the committee.
When a loan is made, the commit
tee shall take the student's note. pay.
able to the trustee on or before five
years after the date the borrower
ceases to be a student of the uni
versity. The notes shall bear 4 per
cent interest.
The Income from the fund for the
hospital is to be paid to 'the Mercy
hospital free bed fund association for
ruptured, crippled and deformed
children.
The will was drawn October 24,
1919, provided several small bequests
to distant relatives, several - larger
bequests to be paid to near relatives
upon the death, of Mrs. Miller, or for
the income from certain funds to be
come life bequests to beneficiaries.
finance Europe's purchases of Ameri
can merchandise. December exports,
although below those of November,
were exceeded in only two other
months, while imports were also
above those of any month, excepting
September. October and November.
The resultant export excess of $300,
000,000 was below the December ex
port excess of the three previous
years. Both exports and imports last
year broke all records, the net result
being an excess of exports over im
ports or 34,017,000,000. This was
$724,000,000 above the previous high
total of 1917 and suggests that it
may be many years before such a
huge export balance is matched, if
the showing is ever paralleled. Takv
ing the 1919 export excess with the
similar balances accumulated during
the calendar years 1918. 1917 and
1916, the government figures give a
total export balance for the four cal
endar years ending December 31 last
of $13,507,000,000. Such a stupendous
credit balance accumulated by us on
foreign trade account within 48
months is unparalleled and makes all
the more extraordinary the fact that
during the year 1919, this country ex
ported $368,000,000 gold, says the Na
tional City bank. This was within
about $3,000,000 of the high record for
all time established in 1917.
Freeman, Smith & Camp Co.. local
bond dealers, oo-operatlng with the
Anglo London Paris National bank of
San Francisco, have just brought out
two attractive note and bond issues
which are being sold to net investors
6 per cent. One of the issues is the
first mortgage 6 per cent goldi bonds
of the Alameda Farms company which
s a subsidiary company of the Ala
meda Sugar company. While the
issue is for the sugar company it is
a mortgage on the extensive ' land
holdings of the Farms company and
guaranteed by the parent organiza
tion. The money from the sale of
this Issue is to be used to pay for the
cost of a sugar refinery at Crockett,
CaL
The other issue consists of one to
Teachers Request Bonus.
PASCO, Wash., Feb. 8 (Special.)
The school teachers of Pasco have re
quested that they be given a bonus
ln adidtion to their regular salaries.
The bonus asked for approximates 20
per cent of their contract salaries.
The school board believes that the
teachers are entitled to the bonus
asked for, but, owing to the budget
system, it finds Itself without funds
FREE FROM ALL FEDERAL INCOME TAXF.S
invest
512 to
in
7
the Northwest
MUNICIPAL BONDS
Below we have listed an exceptional jrroup of offerings from the three North
western States Idaho, Oreeron and Washington. These bonds reprenent the
last word in Investment securities and include road, light, water, improvement
and school bonds. Make your selection from this list and Invent your riolUra
In the Northwest. Every dollar Invested In these bonds Is helping to build tb
.Northwest better and bigger.
V Rate Maturity Price Yield
84,000 Hcppner, City of, Oregon, Water
69,000 Klamath County, Oregon, Road Bonds
55,000 Tillamook County, Oregon, S. D. No. 22....
13,000 Clarke County, Wash., Road (Donohue)....
1,000 Buhl, City of, Ida, Sewer Dint. No. 3
2,000 Buhl, City of, Ida, Sewer Dist No. 3.......
4,000 Buhl, City of, Ida, Sewer Dist No. 4
30,000 Paul, City of, Ida, Water.
15,000 St. Anthony, City of, Ida.....
5 .MJ 1928 100.00 5.00
5 : M&N 1927-39 To Net 5.10
5 J&J 1929-38 To Net 4.90
5 V'l M&N 1939 106.24 5.0
ii A&O 1931-38 To Net t.00
7 F&A 1923-29 103.51 6.00
7 F&A 1927-29 106.28 6.00
7 F&A 1929 107.29 6.00
6 J&J 1925-33 103.54 5.25
6 J&J 1931-39 To Net 5.40
6 J&J 1930-39 To Net 5.50
7 F&A 1922-29 To Net 6.00
6 J&J 1932-38 To Not 5.40
6 J&J 1929-39 To Net 6.00
BTOGLAR AXD FIREPROOF SAFE DEPOSIT BOXES FOR RENT
MORRIS BROTHERS, inc.
THE PREMIER MUNICIPAL BOND MOUSE CAPITA I, 0K MII.I.IOM DOLLARS.
MORRIS BUILDING 309-11 STARK STRKHT, BETWEEN FIFTH AND SIXTH STREETS
Telephoaei Broadway SIM Established Over a Qaarier Oatary.
to meet the demand. The matter will
be put up to the voters at the regular
school election on Saturday, March 6.
Alliance Holds Convention.
PASCO, Wash., Feb. t. (Special.)
The county convention of the triple
alliance was held in Pasco Saturday
afternoon at the old Empire theater.
Read The Oreeonlan classified ads.
"Two Heads Are
Better Than One"
But by vesting the
management of your
business or income
property in the Strong
& MacNaughton or
ganization you ac
quire even a broader
benefit than that.
We have made our System
a Science. Write or call
for information.
Strong 6 KacNaughton!
LIBERTY AND VICTORY BONDS
Xf you must Hll your liberty or victory bonds, Mil 10 us.
If you ran buy more liberty or victory bonds, buy from ua,
On February T, 1020. the closlns Nw York market prlree mrr tlwa
be-low. Tbev art th. governing price, for liberty and victory bona, ell over
the world, and the hltbu We advertise three price dally In ordrr that yae
may a! way know the Naw York market and the exact value of your liberty
and victory bonda:
let lit 24 lt ti M 4th Victory .
4a. 4a ea 4lti 4 Ha. 4 Ha. . 4m.
Market... tSS.KS I90.KS 90 l0 I9L40 0 --'4 ! S f)0 ?8 $97 M I.7
lntoreat... .63 .SO .3 .6 . 1.70 !. .71
ins of I9LS0 K 41 m 4
nd f.'.&A on a $10110 bond. We
Total. .197. 49 191 M !109S 192 04 $11 L'S
When buvlna- we deduct 37e on a 150 bond 1
all at the New York market, plue the arcrued inTereet.
BurfUir and Mrrproof fcaf DimmII Havre for Heat
. Oprn I nlll 8 r. M. on Saturdays
MORRIS BROTHERS, Inc.
The Prrmlrr Municipal Bond Honae. Capital On Mllllow PMlara,
Morn Building, 309-811 Mark St.. Ulweea 5th and 6lh.
Telephone Broadnay Slit. Eelabllabed over a quarter century.
sumers' f"ower company general and "ve-year 6 per cent notes of Raphael.
refunding- mortgage 10-year 7 per cent eiu company of Ban .Francisco,
gold bonds. They are offered at a 1 01 ma n mn nouns, ine large
price to yield about 7 V Der cant. ahd well-known drygoods establlsh-
e I iiidiix ineio. 4fio iviai ibsuo id xur
The State bank of Portland is as- 1750,000. Both Issues are being sold
eistlngr the drive for relief by hand- at par to net B per cent.
ung tne sale or "rood drafts" calling
Bulldog Shamed When He
Is Hailed Into Court.
Ariatoeratle Member of CasJae
Family DUarraced Wheal "Ar
retted est Vasraaey Charg- .-.
H
E WAS a perfectly self-respecting
took htm Into the police station and
turned him over to the polio Satur
day night he hung his head and tail
as if he knew he was being disgraced.
He was lost and he knew It, but he
didn't want to be a prisoner besides.
'Here's a dog that climbed up Into
my machine," explained the man who
had turned him over to the officers.
Officer W, H. Maas, of the first
night relief, tied the dog up ln the
basement.
The last chapter ln his dog story
is told in a brief addition to the polioe
report made by Motorcycle Officer
R. Li. Schad yesterday morning.
The dog la gone."
No warrant for his arrest was
issued.
I
Rose Culturists Meet Tonight.
Rose culturists tonight at the Cham
ber of Commerce will discuss the
proper time for pruping bushes in
Portland, a question which has caused
considerable discussion owing to the
early spring. The meeting, which la
open to the public, Is the annual one
of the Portland Rose society and will
be addressed by several local experts.
One of the subjects will be the date
for the Rose show.
for the delivery of food from ware.
houses conducted by the American re.
lief administration in European cities.
The drafts are sold in denominations
of 20 and $50, and by this means It Is
possible for people here to send relief
to their friends in Europe.
Robertson & Ewing are offering
the 7 per cent preferred stook of the
General Motor company. The issue is
$500,000,000 authorised, and holders of
the old 6 per cent preferred stock are
given the privilege of exchanging
each flQO for an equal amount of the
new issue and to buy an equal
amount of the pew issue. This is one
of the giants of American Industry,
ranking among the half dozen largest
concerns ln the country at the pres.
ent time. The issue will provide
(175,000,000 for expansion and devel.
opment of new business.
B. Hall, representing the Royal I
Financial corporation, limited, of Van
couver, B. C, was a Portland visitor I
during the past week, here ln oonneo. I
tion with business of the firm. Mr,
Hall regards the prospects for Caua-I
dian securities as very bright, and I
says that the wealth of the country I
is such that no serious ffeot can re-1
suit from the present foreign ex
change situation in the dominion.
The Northwestern National bank is
running a series of advertising that
is a departure from the usual form In
bank publicity. It is designed for "a
greater Oregon campaign." and Is
dedicated to a presentation of the tn
dustrles of the state. Each adver
tisement will be a complete treatise
on one particular subject, illustrat
ed with line drawings.
Timber, livestock, fish, fruit, min
erals, water power, shipping, grain,
climate and scenery are among the
resources to be presented In word
and picture. Each will be bandied
in manner to convey to the reader
a comprehensive idea of the magni
tude of the industry, wealth of lat
ent resources and methods of opera
tion, in which the part of a finan
cial institution is closely connected.
The copy is prepared by the Couche
Dr. MeEIveen to Report.
Dr. MeEIveen is to address the Con
gregational ministers' meeting at its
women wage earners, merchants, tax- i session today at 11 o'clock at the First
payers and property owners, all of I Congregational ehureh. He is to give
whom are dependent upon good ear Ian account of what happened at the
service and individuals who have ' meetings in Chicago twq Mtjelu &o,
mMm
John Y. Richardson & Co.
Certified Public Accountants
INCOME TAX CONSULTANTS
Concoid Building, Portland, Or.
Telephone Main 8231 .
A. L. Deak, head of the foreign ex
change department of the Ladd &
Tilton bank, has arrived from New
York to enter upon his new duties.
He was for four years connected with
the foreign exchange department of
the National City bank, and for two
years has been with William Stake
Co., one of the oldest and largest
Baby Bonds
Paid from taxes.
Denominations $100, $200
to yield .
6 to 6J4
Income Tax Exempt.
Call or write for details.
Freeman
smith
SBOTfUM. CAMP
ajoTHWSTSM Pan; Bim.
MAIM MS VeOe
An Opportunity for
an Experienced
Salesman
Well known Investment
banking house doing a large
business in high-grade bondg
adapted to local market re.
quirements, offers satisfac
tory salary and a share in
its prosperity to an experi
enced salesman of charao- -ter
who Is needed to care
for the rapid expansion of
its recently established'
Portland business. State ex
p e r i e n ce, for appointment.
Communications will be held
in strict confidence. Address
G 843. Oregonian.
We own and offer, subject to prior sale:
$87,000
CITY OF JEROME, IDAHO
Improvement 7 Bonds
Dated August X5, 1920. Due serially August 15, 1920-1929.
Semi-annual interest (February and August 1-5)
Prices to Yield
6.50
Amount Due, Aug. Price Amount Due, Aug. Price
$8000 1920 100.24 $9000 1925 102.28
8000 1921 100.70 9000 1926 102.62
8000 1922 101.14 9000 1927 102.93
9000 1923 101.54 9000 1928 103.23
9000 1924 101.92 9000 1929 103.50
An obligation of Improvement District No. 3, which
includes ALL THE BUSINESS DISTRICT.
The City of Jerome, county seat of Jerome County, is
situated in the heart of the Twin Falls irrigated section.
It is conceded to be one of the most up-to-date and pros
perous cities in Southern Idaho. Jerome has two of the
largest sugar factories in the state tributary to it. It
is one of the principal shipping and supply points on
the Oregon Short Line Railroad.
INCOME TAX EXE3IPT
Borxds -Truss-Accept&rvces
vapiTai surplus i oee.oM
3(r-arclCO Umk.rmens Bid
PorI va.- Orqoi.
SeVttl
Canadian Bonds
Due to the present exchange rate, bonds of
Canadian Provinces can now be purchased at
prices to net the investor unusual rates of inter
est. Principal and interest of the following are
payable in United States dollars in New York.
Due
Province of British Columbia 6s. .1923
Province of Alberta 1929
Province of Saskatchewan 6s.. . . .1925
Province of Manitoba 6s 1928
Province of Saskatchewan 4s.. . . .1923
Yield
6.60
7.00
6.75
'6.75
7.00
Blyth, Witter & Co.
United States Government, Municipal and Corporation Bonds
402 YEON BUILDING, PORTLAND, OREGON 1
Telephone Main 3304
Seattle San Francisco 1 New York Los Angeles
The Bank of California
NATIONAL ASSOCIATION
Founded in 1864
Capital, Surplus and Undivided Profits
$17,000,000
Never in the history of the world has the
savings habit been so popular as it is now, and
seldom have opportunities been so numerous.
Deposit your surplus funds regularly with
us in a Savings Account, which, with the inter
est it earns, will soon afford the means to take
advantage of your opportunity and accom
plish something really worth while.
PORTLAND BRANCH
Third and Stark Streets
W. A. MACRAE
Manager
J. T. BURTCIIAELL
Asst. Manager
The Resale of Securities
It is most important to purchasers of wcuritics to know that they
can convert them into cash when desired.
The saying that "it is easy to buy, but hard to selT is quite trn
if your broker does not have the proper facilities.
With offices in Seattle, Tacoma and rortland, all connected with
our private leased wires to all important financial centers of tht
United States, our service is UNEXCELLED.
Securities bought and sold for customers for cash or partial pay
ment, large or small lots. .
If you are not already our customer, become one.
Leased Wire Service of E. F. Hutton & Co, Members New York
Stock Exchange, Chicago Board of Trade, etc
Herrin & Rhodes, Inc.
K. P. Effinger, Mgr. Established 18D8
STOCKS AND BONDS
201-2-3 Railway Exchange Bldg. Phones Main 283 and 281.
Portland Seattle Tacoma
The recent Bolshevik victories in Russia, the political
downfall of Clemenceau and the growing strength of
the English laborites are indications not to be over
looked by the conservative investor. This is scarcely a
time for vaguely optimistic speculation.
"The House Built Square"
Qarstens & paries, Incorporated
Third Floor U. S. Bank Bldg.
Bdwy. 410S
INSURANCE
BONDS MORTGAGE LOANS
0
O. W. T. MUELLHAUPT & CO.
'" Krurnl laariap,
A Lb KTKO!VC AMKRirAN CIIMPAMM
WE WILL BENDER YOU A SUPERIOR SERVICE
Bolt 40T-400
V. S, ' Bank nidg
Tel. Broadway 83 X,
1