Image provided by: University of Oregon Libraries; Eugene, OR
About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Aug. 2, 1920)
TIIE 3IORXIXG OREGOXIAN,. MONDAY AUGUST 2, 1920 FINANCIAL RATE INTEREST INCREASES News Is of Importance to Business World. RAIL SECURITIES ASSURED Transportation Companies Placed on Footing AVhereby Needs Aow Can Be Financed. The decision by the interstate com merce commission of the railroad rate case, granting authority to the rail roads to increase rates to yield additional revenue approximating: 11.500,000.000, and which it is ex pected will become effective not later than September 1, is perhaps the most Important news to the financial and business world of the week. Trans portation is essential to the develop ment and progress of industry and h pinsripnce of recent years has demonstrated that the public has an Intimate interest in having the rail roads on a sound basis and operated efficiently." The rate case that has just been concluded was characterized by the aDDearance of representatives of the shippers from all sections of the country. The shippers, as shown by their testimony. were practically agreed in recognizing the necessity for increases to such amount as the commission should find justified to meet the necessity of the situation The shippers were vitally concerned as to the effect on the relationship of rates as between competitors and as to the method of applying the ad vance. It is impossible to judge ac curately the effect until careful analy eis can be made, but all were satis fied that the interstate commerce commission would endeavor so to ad just the awards as to obviate the dis turbance of existing relationships. However, this is manifestly difficult in making percentage advances in dif ferent sections of the country.. The wage increases granted in ac cordance with the awards of the war labour board and the guaranteed return to the railroads on the valuation fixed by the commission are provided for in this increase. The adjustment will go far toward placing securities of the transportation companies on footing that will enable them to fi nance their needs, and in the opinion of financiers will result in bringing the physical properties to the stan dard that the public has been edu rated to expect in- the pre-war con duct of the lines. The grain crop situation through out the United States seems to have been improved by generally favorable weather conditions and the harvest of cereals is proving quite satisfactory Tentative estimates of the wheat yield have been increased in the country as a whole by about 15,000,000 bushels. Condition of the corn crop is improved also, although the forecast is for a crop considerably less In the aggre gate than last year. In the Pacific northwest, harvest is now under way t mvmw6WvV-&wu,vw smAWW waqMi'J-Hfjfci- wMiiwwtw iiwy Milium JWawwffiyJmjywll pw KHjrp. -v &.s Wft-""Aft S "f a ""s t ' u ' 1 " " " " 1 . ' test'' .t4 I "V inriljW(Wrtfftf&iV"rtmyrimi rrtirii- nra it.ir ntfiri-niiil NEW YORK BY LOSS OF TRADE Exertion Is Held Necessary to Keep Port's Supremacy. OTHER HARBORS BENEFIT - TODAY'S FILM FEATURES ' Peoples Herbert Rawlinson, "The Passers-By." , Liberty Wallace Reid, "Sick Abed." Columbia Thomas Meighan, "The Prince Chap." Rivoli Lew Cody, "The But terfly Man." Majestic Mabel Normand,. "The Slim Princess." Star Shirley Mason, "Love's Harvests." Circle John Barrymore, "Dr. Jekyll and Mr. Hyde." Globe Mitchell Lewis, "Burn ing Daylight." and progressing favorably. The pro- 1 fu"n a " iS in ''The Slim Princess." ducers are assured of a good market and the railroads are striving to be prepared for its movement to market with reasonable promptness. With shipping tonnage easier than since before the war and ships available, it is expected that the export demand w ill be supplied with greater dispatch, avoiding congestion at terminals. July was a month of improvement In the bond market, with investors turning to municipal bonds because of the attractive return offered and coupled with the advantage of being tax-free from any federal income or other tax. The month has registered more than its usual volume of in vestment business, judged by the record of local dealers. Under a new decision of the United States supreme court, congress is without power to tax the income from the bonds of states, counties, munici palities and other political subdivi sions of the states. Facts regarding the decision have Just been received by Freeman Smith & Camp Company, I bond dealers of Portland and San Francisco, from Roy C. Osgood, chair man of the taxation committee of the Investment Bankers' Association ' of America. The decision Is of vital importance to investors, because many have been fearful that congress would attempt to impose a tax upon the bonds or in terest of bonds held by them or to be purchased in the future. It was given in the case of Evans vs. Gore, and set tles for all time, according to legal experts, the question of whether or not congress has the power, under the constitution, to tax bonds of states and their political subdivisions. The case was decided June 1, but copies of the decision were not re ceived here until a few days ago. While the decision deals directly with the question of Income tax exemptions of United States district judges, the issue of municipal bond exemption is gone into at length and definitely set tled. While the question is now definite ly settled, it is interesting to note that congress, in passing the income tax law of 1919. refused to treat in terest from bonds Issued by a state as within the taxing power. Paul S. Dick, cashier of the United states National bank, has been elected a vice-president of that institution. Walter A. Holt, assistant cashier, has also been elected vice-president, and t H. Chambreau, who has been head teller, has been appointed assistant cashier. Mr. Chambreau is one of six employes of the institution who have been with it since its organization S2 years ago. Mr. Holt was employed by the old Commercial National bank and came to the United States Na tional when the two were merged. Mr. Dick is also an old employe. C. H. Loughi y. vice-president of the bank at Goldendale, Wash., is pass ing several days at the Seward hotel while in the city on business. E. C. Summons, assistant cashier of the United States National bank, who is president of the Mazamas and thereby honored by having the camp . at Mount Baker named for him, is spending his annual vacation in the Treasures of an outing in that region. He expects to visit as many points of Interest as possible while in the vicinity of the peak. v m m The Lumbermens Trust company re Torts an active market in municipals, the offerings of which include the . unsold portions of issues of five coun , ties of Washington, Adams. Douglas. Lincoln, Whatcom and Yakima. These bonds run for variable terms and are all priced to yield the investors 6 per cent. Of the total of $234,500 in these five lots only a small amount remains for disposal. Today the company will offer to investors $120, oo improvement bonds of the city of Tillamook. Or. These bonds ma ture from 1321 to 1930 and yield 6 per gent interest. They are offered Tully Marshall and Mabel Norm and In one of the many- mirth proTOklngT acenes tn Cieoree Ade's "The Slim PrtncesM," now In film form at the Majeutic theater. t Americn steel magnate sojourning in Mororvenia to avoid a sensational government investigation, does nice work. He has several series of scenes to himself among which is one in which he dresses for a diplomatic ball en route from the club to the affair with only the shelter of the glass taxi windows between him and the in quisitive street. Screen Gossip. The fear not of dinties. but the Portland police has been put into the hearts of Portlanders during- the last few days by A. A. Bruce, manager of the Peoples theater, who. has been initiating a new exploitation scheme in connection with the continued story which is to commence on hia screen Saturday. Several hundred automo bile owners found their cars tagged with red cards precisely the same size and colors as those left by traffic police. The cards, however, had on them only a harmless exclamation point, the number three and an inter rogation point in heavy black print. Their connection with the picture will be disclosed during this week, declares Manager Bruce. Maude Adams the screen is a possibility of the current year. The most famous of all her plays, "Peter Pan," is to be filmed, and it is be lieved that Sir James M. Barrie has released it on. condition that Miss Adams play the title role, Upon his return to Los Angeles Frank Borzage has been lionized by the great film colony. His sensational success in the making of "Humor- esque," which had already run six weeks in the Criterion theater, New York, when he left there, had pre ceded him. On the strength of its rec ord in the east some of the theaters in the large western cities are book ing this screen version ' of Fanny Hurst's novel. Edna Ferber, the magazine writer, has written a story for the screen which will probably be interpreted by Priscilla Dean or Carmel Myers. GEORGE ADE and Mabel Nor mand combine in presenting "The Slim Princess," a new type of comedy photoplay, which is the principal feature on the Majestic screen this week. A satirical vein runs through "The Slim Princess" that is unusual to the screen. Its adaption from the origi nal George Ade story has been done with an eye true to retaining the Ade-esque flavor and in the majority of subtitles, actual quotations from the humorist have been used. Mabel Normand just couldn't entirely for get her Mack Sennett training, but there is minimum of slapstick in the picture, and slapstick if sparingly and cleverly used can be exceedingly Mabel Normand assuredly is the star, but Tully Marshall prominent in her support as the professor into whose care the slim princess has been put that she may under his guidance grow fat and beautiful and marriag- able, bids for high honors. Mr. Mar shall must have enjoyed working in this production for in the scene where he blows and blows and blows, in flating the rubber suit which is to make the princess a thing of beauty and a joy for the reception to the English ambassador, he becomes so convulsed with laughter that for a moment the action of the play is bus- penuea. , Hugh Thompson, who portrays the comedy star. Florence Midgley, who is supporting Mary Miles Minter, was formerly un derstudy to Mitzi Hajos, the musical- at par. A small block of 7 per cent general equipment certificates of the American Tank Car company, due May 1, 1921, to November 22, 1922, are offered at a price to give investors 8 per cent. Another offer ing on an 8 per cent basis to the in vestor is a block of $9000 of the 6 per cent bonds of the municipality of Burnaby, B. C, due December 31, 1924. James H. Lynch, sales manager oi the Lumbermens Trust company, is spending his annual vacation at Long Beach, Wash. He has been there for a week and will return a week hence, after having feasted on clams and the other delectable sea foods that appeal to epicurean tastes. Craig H. Coffin, president of the Boise City National bank, was a Port land visitor for a day last week, en route to the Oregon beaches where he is spending a vacation period with his family. J. E. Clinton, vice-president of the same bank, and one of the lead ing sheep growers of Idaho, was also a Portland visitor on a business trip. He reports business conditions good in the Gem state and brings favorable reports of the crop situation, espe cially in the irrigated districts. A. M. Wright, vice-president of the United States National bank, made a trip through the Willamette valley last week. He made stops at various points on both the east and west side and reports crops are excellent. Transversely, he found roads gener ally not good and in some places characterized the highways as "rot ten." But he reports that apparently good progress is being made on high way construction. S. G. Sargent, formerly Oregon bank examiner, and now assistant to John Perrin, federal reserve agent at San Francisco, passed .through Portland Tuesday of last week en route home ward after an interesting motoring trip through the northwest. After attending the conference held re cently at Seattle, he motored through Washington and Idaho, toured the Yellowstone national park and re turned via the Columbia basin dis trict cities and highway. A new block of $300,000 Port of As toria five-year. 6 per cent bonds will soon be offered to investors, the pro ceeds of which will be utilized in com pleting port facilities already in itiated and approaching completion. The bonds were purchased by the Ralph Schneelock company and the Anglo & London National bank of San Francisco, bidding jointly for the bonds. The syndicate also has a short-time option on another block of $200,000 of the issue. P. A. Kinnoch, for several years connected with the Portland branch of the Canadian Bank of Commerce and in which he held the position of assistant manager, has been trans ferred to Seattle to a similar position Mr. Kinnoch has been active in so cial circles and was a popular mem ber of the fraternity in the financial district. Francisco, 192 mil.es north of San Fran cisco. PRESIDENT, Sattle -for San Francisco, 224 miles north of San Francisco. AVALOX, San Francisco for Richmond, 47 miles north of San Francisco. PORTER, Monterey for Everett, 703 miles from Everett. ARGYLL, Seattle for Oleum, 407 miles .from Oleum. OATONWAX, San Francisco for Ever ett, 14 miles south of Cape Flattery. ADMIRAL SBBREE, Ocean Falls for Wellington, SO miles south of Cape Scott. IDAHO, Grays Harbor for San Francisco, 60 miles south of Grays Harbor. HART WOOD, San Francisco for Grays Harbor, 1 miles south of Grays Harbor. WAHKEE.NA, Everett for San. Pedro, 607 miles north of San Pedro. EL. SEGUNDO. Richmond for Polat Wells, 24'2 miles south of Point Wells. ROTARIAX, Seattle for San. Franclvco, 590 miles from Kan Francisco. TOSEMITB, Port Gamble for San Fran cisco. 98 miles south of Tatoosh. WASHTENAW, Honolulu for San Fran cisco, 4(i3 miles from 5an Francisco, at 8 P. M.. July 31. C. A. SMITH, San Francisco for Coos Bay, 205 miles north of San Francisco. OLEUM. Portland for Oleum, 242 miles from Oleum. MULTNOMAH, San Francisco for Port land, 195 miles south of Columbia river. ADMIRAL DEW BY, San Francisco for Seattle, ."OO miles from San Francisco. WATAMA, San Francisco for Seattle, 20 miies south of Cape B:anco. CAPTAIN A. F. LUCAS, Port Angeles for ban Pedro, o-itf miles from ban Pedro. ATLAS, towing barge OS. Richmond for Portland, 302 miles from Richmond. MATSONIA. Honolulu for San Fran cisco, SjS miles from San Francisco at 8 P. M.. July 31. ENTERPRISE. Hllo for San Francisco, 17t miles from San Francisco at S P. M., July 31. COL. E. L. DRAKE, San Pedro for Hllo, 630 miles from Hilo at 8 P. M., July 31. MAUI, San Francleco for Honolulu. 1241 miles west of San ran Cisco at 8 P. M July 31. ADMIRAL FARRAGUT. San Francisco f orWilmington. 106 miles from San Fran Cisco at P. M.. July 31. EASTERN GUIDE. Honolulu for San Francisco. 18 miles from San Francisco at 8 P. M., July 31. DILWORTH, San Pedro for Honolulu. 50 miles from San Pedro. CITY OF TOPEK A, San Francisco for Eureka. 63 miles north of San Francisco. DELLWOOD. San Francisco for' Puget sound. IttO miles north of San Francisco. CELILO, San Francisco for Portland, off Point Reyes. WEST TOGUS, Seattle for San Fran cisco, 44 mil north of San Francisco. RICHMOND, towing barge 95, gan Fran cisco for Seattle, 390 miles from San Pedro. ACME, San Francisco for Yokohama, five miles from San Francisco lightship. Official Points Out Successful Ef forts or Other Cities In O rasping Commerce.' NEW YORK, Aug. 1. (Special.) New York has awakened to the ne cessity of exertion to maintain its su premacy as a port. In an extended interview with the World, Collector of Port Byron S. Newton tells of its deficiencies, of the decrease in the proportion of the nation's foreign trade which it is doing, and of the successful efforts of other ports to take away part of that share. All of this leads to Mr. Newton's demand for some dreamer, some genius, who shall work out a plan whereby the ships of the world can get in and out and fetch the commerce of the world as fast as the railroads can get the product in and take the ocean-borne traffic away." Recalling the saying that New York is "the greatest commercial port of the world with commerce "greater than that of any other two ports in the world' Mr. Newton said: Port Loafs on Job. But that is no reason why it will con tinue to hold this place for all time. The Creator has much to do with making the port of Xew York what it is. Nature laid out the vast system of waterways and shore line, ideally sheltered and convenient to the mainland, and left the work of im provement "to be done by man. Now we begin to see that man has been loafing on the job. Relatively, he has made little im provement on what the Creator has glveu him. Because of Its natural advantages New York has been forced to its present great ness thrwjgh the rapid pioneer develop ment of the continent. Now the time has come when the port. In its undeveloped state, can no longer handle the traffic thrust upon it, and we are at tne point where we must decide whether we will de velop the capacity and facilities of the port sufficiently to take over the vastly Increased commerce that soon must corns to our shores, or permit this commerce to go to other ports, trusting that New York may hold her own without it. Mr. Newton here pointed out that the woeful deficiency of the port was vividly revealed during the war, when the pressure of war traffic "broke down the port, or so nearly broke down that it was a source of national distress and alarm. It demonstrated with painful emphasis, that while .the harbor of New Yor is the natural gateway for commerce between the United States and Europe, it Is an archaic and undeveloped gateway, utterly inade auate to take care of the traffic that na tural laws of transportation and trade place upon it. War Revenls Deficiency. During the influx of war supplies, Mr. Newton pointed out, along the ex tensive shore line of the inner harbor there was ample space for handling all this traffic. But only a part of the harbor shore line j was available. ' There were not piers enough to accommodate the vessels, and i most of the available piers were too small. Inaccessible, improperly equipped, or being used for some purpose necessary for the domestic demands of the city. For the rreater part of the time there wcrs vessels enouch and the railroads were delivering the supplies to the port much faster than they couia pe iaten away. Eminence Being: Lost. Tra inlnadu of freieht destined for New York were halted at Buffalo, Pittsburg and other interior ports and sent to other sea ports on the Atlantic seaboara. j.o d sure, that was the pressure of war-time. But the pressure oi a revivea ana ex panded commerce of peace times has found the port of New York in practically, the same situation. The effect is that after having han dled considerably more than 50 per cent of the country's commerce every year since the civil war New York's percentage fell to 45 in the fiscal year 1919 and Mr. Newton predicts that the balance against it will grow unless something is done to hold Its trade. In 67 years, from lbu to iii. its foreign commerce increased 2700 per cent, attracted by the natural ad vantages of the harbor, and this com merce led the trunk line railroads to make their terminals there. These conditions built up the great mercan tile and manufacturing city.. Forty years ago New York began to lose the export grain trade, and year by year it has fed itself into other ports, but owing to its marvelous gnowth the city has been indifferent. Mr. New ton continued: Harbor Area Unused.. The port of New York, including Jersey City, has a shore line of 986 miles, meas uring piers and shore lines together. Of this area there are only 47 miles of pub licly owned and improved piers. That tells the story of the trouble in the port of New York. It is not a question of navigable water or shore line, but it is a question of mak ing use of the water and shore line pro vided by a beneficent Creator and an in telligent, workaole connection of the piers with railroad terminals, just as the local transit lines of the greater city have been brought into natural relationship. New York has undertaken and successfully com pleted other tasks quite as difficult in tha perfection of its transit and water supply systems, but somehow this most vital question of developing the port of New York, upon which the very life of New York depends,' has always been regarded with indifference or allowed to be side tracked, through local borough jealousies and bickerings. left this morning. She will complete cargo in San Francisco. "With shipments of mining machinery for the Kuskokwim Dredge company, the Flume Dredge company and the ' Alaska Treadwell Gold Mining company, all of which have properties near McGrath, the auxiliary powered schooner Ozmo, of the Northern Commercial company, sailed from Seattle yesterday afternoon, bound for Bethel, on the Kuskokwim river via Unalaska. Representing an unique addition to the Atlantic fleets, a miniature bulk oil tanker built of wood for the Bering River Coal company of Katalla, Alaska, will. be launched by Edward W. Heath. ship builder, from the Tregoning plant " next week. The company owns oil properties In the Katalla district and will use the new vessel, whloh is only 65 feet long, m distributing fuel oil to clients in Cordova and other ports in that section of the north. Aboard the Alaska Steamship company's liner, Victoria. 4ien she sails on her next voyage for Bering sea. will be the first flouring mill ever shipped to the northland. The mill will be consigned to the Tanana Valley Agricultural association in Fair banks, which is located J25 miles south of the Arctic circle. It was built in De catur, 111. Part of the Tregoning Boat company's big new plant on the sound at the en trance to the Lake Washington ship canal Is betng converted into a sash and door factory that will give employment to lOO men when it gets into full operation. The rest of the new plant as well as all of the company's old plant will continue to be used by the- Tregonings In building ves sels of all sizes, ranging from lifeboats to 200-foot ships. MARSHFIELD, Or., Aug. 1. (Special.) The steamer Johanna Smith went down the bay last night with her usual cargo of 1,500,000 feet of lumber and went to sea by moonlight at 1 :43 this morning. The gasoline schooner Tramp sailed this morn ing at 3 for Rogue river, having on board a line of miscellaneous freight. WEST'S LUMBERMEN BEGIN FORMING POOL National Advertising gramme ConsJdeYed. Pro- 3 COMMITTEES NAMED V. S. Naval Radio Reports. AH positions reported at P. M. yester day unless otberwie specified. JOHANNA biilTH, Coo &y for San PORT TOWNSEND. "Wash.. Aug. 1. (Special.) The steamer Rotarian, the last steamer built by the Skinner & Eddy cor poration for he shipping board, sailed this morning for ports in Argentine', load ed with 2. 5 u 0.0 00 feet of lumber. She will call at San Francisco to complete cargo with general merchandise. The West No- tus is due from San Francisco to load lum ber at Port Ludlow, Everett and Seattle for Argentine. Coming from the orient with partial cargo, the west J esse p arrived today, proceeding to Seattle, where she will load cargo for return trip. The Eastern importer sailed this morn ing for San Francisco, where she will complete cargo for Manila and East India. 1 - Coming from San Francisco the steamer Watowan will arive, early Monday morn -inf. to complete her cargo with lumber for the Atlantic. At the bay city she loaded a part cargo of general freight. The steamer Robin Goodfellow has been fixed to carry a cargo of fuel coal from British Columbia to the east coast of South America. SAN FRANCISCO, Aug. 1. (Special.) Former rivalry between opposition tow boat companies of ten years ago is being revived, the feat of the Red Stack tug Sea Wolf, Captain Moore, In beating the Purson tug Wyadda, Captain Johnson, to a remuneration tow off the lightship to day, served to recall the competition which existed years ago. The old opposition, temporarily forgotten when the Red Stacks absorbed the Black Stacks, has come to the fore, again with the intro duction Into the field of the Peterson & Rolph interests. Captain Dehgren, veteran South sea skipper, added another Samoan voyage to his long record when he brought the schooner W. G, Irwin into port late Sat urday night. f he fore-and-af ter was 70 days from the tropical port with Copra to Atkins, Kroll & Co. Captain Rosich brought the schooner H. D. Bendixen up in 68 days. She ar rived today with 700 tons of copra for Burns. Philip &, Co. m Newcastle coal to the amount of 4000 tons formed part of the cargo of th British ship Waitemata. Captain Show man, of the Union Steamship company, which arrived late Saturday, 28 days from Newcastle. In addition, the steamer brought 4O00 tons of general cargo, in cluding .u- tons oi copra. . The army transport Madawanka, sched uled to leave August 5 for Manila, was adjusting compasses on the bay today, The Grace motorship Santa Flavia moved to Xoyo' today to load a part -cargo of railroad ties. She will complete loading on the sound and proceed to Antofagasta. The naval auxiliary Orion, Captain Boesch, came in today from Bremerton, proceeding to Mare Island.' T ' Strauss & Co. have taken the freighters Brookline and Mosella to load -barley for the United Kingdom. The Crowley barken tine Olympia. fixed by the J. J. Moore & Co., is taking cargo of redwood at Eureka for Sydney. The freighter Eastern Guide arrived to day from Hawaii for the Matsons with SU.5S4 bags of sugar, 16.052 cases of canned pineapples and other cargo. The army mine planter Col. Geo. Arml stead returned Saturday night from Hono lulu after a long absence. The steamer West Togus left for Seattle today to load cargo. ASTORIA. Or.. Aug. 1. (Special.) The steamer West Nivarla, bringing a part cargo of lumber from Grays Harbor, ar rived at 7:30 o clock last night and pro ceeded to Portland to finish. Twenty-three days from Yokohama, the steamer Olen arrived at 12:35 today with cargo from Portland. Coming to load lumber at the Hammond mill, the steam schooner Halco arrived at 9:15 today from San Pedro. The cruiser Birmingham and six de stroyers, which have been here during the American Legion convention, sailed at 11 today for San Francisco. The motor ship Astoria is due from San Francisco. She comes to load lum ber at Wauna and -Westport. Hampton Stoat Dies at Astoria. ASTORIA, Or., Aug-. J. (Special.) Hampton Bennett Stout, a con tractor residing at East Thirty-fourth and Washington streets, Portland, died here -. this afternoon following an operation for appendicitis. He was a native of Ohio, 68 years of age and leaves a widow and two children, Walter Stout and Mrs. Olive Liberty, both of Portland. He was a member of the Elks lodge of Portland,, and the body will be shipped tomorrow evening to that 'city for interment. Exploitation or Timber Products of Western Washington and West- . ern Oregon Proposed. SEATTLE. Wash., Aug. 1. (Spe cial.) Plana for the pooling of all lumber interests in western Wash ington and western Oregon with view to enlarging the national mar ket for northwestern products came to a head today after weeks of con sideration when representative tim ber owners, logging operators, mill men . and wholesalers decided on the formation of the West Coast Forest Products bureau. v The organization has not yet been completed, and probably will not be for 30 days or go, according to the promoters of the plan, but they have agreed on a tentative working basis and expect soon to be able to an nounce a national programme. Howard Jayne of Portland will be chairman of the new bureau and H. A. Lightner of Seattle, treasurer. The east will be invaded by a small army of "missionaries" practical lumbermen who will be able to ex plain the many' uses to which the lumber may be put. About $100,000. it was said, will be needed and will be subscribed by the members of the bureau. Douirlas fir. spruce, hemlock and cedar will be the principal products to be exploited. A private association is already ex ploiting the trades export market and this bureau will deal with the Ameri can field, its principal operations be ing in the east. The lumber industry in the north west has gained a decided impetus in recent months from heavy invest ments in Oregon holdings by middle western operators, and construction of sawmills is being rushed. Oouglas fir is considered by the lumbermen to be the product which will probably gain the most popular ity in the east. This wood came into national prominence during the war because of its value for airplane and ship construction, and it is believed that it will eventually take the place of the rapidly dwindling supply of southern pine. Three Commit tee Choen. In an effort to systematize the pre liminary work of the new lumber bureau, three committees have been tentatively selected to work out cam paign plans. Structural timber use and general building requirements will be the field of the first commit tee; the second will deal with indus trial problems, while the third will work toward a closer relation be tween trade requirements and manu facturing practice. These commit tees have not yet been completely or ganized and will be increased in num ber as new members are obtained. The personnel of the committees as selected so far are: First committee, E. A. Poyneer, Fer- rybaker Lumber company, Everett; Walter Stut, Coats-Fordney Logging company, Aberdeen; J. S. O'Gorman, Wisconsin Timber company, Port land, and Howard Jayne, Willapa Lumber company, Portland. Second committee, T. . E. Ripley, Wheeler Osgood company, Tacoma; Thorp Babcock, Northwestern Lum ber company, Hoquiam; H. A. Light ner, Goodyear Logging company, Se attle, and A W. Bryden, Pioneer Lum ber company,. Seattle. Third committee, R. W. Vlnnedge, North Bend Lumber company; E. B. Chinn, Pacic Northwest Loggers' In formation Bureau, Seattle; Mr. Jayne and W. A. Hobart, Wheeler Osgood company,. Tacoma. Secured by $3,500,000 Worth of Rich Land $62,000 TAX EXEMPT BONDS General Obligation Jerome County, Idaho Hillsdale Highway District Yielding 6' Dated May 15. 1919. Due serially 1930-39. Denomination, J500-S1000; Price, 100; Yield. 69?-. Principal and Semi-Annual Interest Payable in New York or at Morris Brothers, Inc. These bonds provide money for extending permanent roads through this district, in the famous Twin Falls section, where immense diversified crops are produced. Telephone or Telegraph Orders at Our Expense. MORRIS BROTHERS, Inc. Btwpen The Prfmirr Municipal Bond Tfoue. -ftth and 6th tablKhrt Quarter of a IVntury. btrerta. MorriN Kldi;., :0!t-l I Stark St. Capital, Sl.ouu.OUu. THephona It roadway 151. Colombia River Bar Report. NORTH HEAD. Ass. 1. Conditions at the mouth of the river at 5 P. M-: Sea, smooth; wind, northwest. SO miles. Tides at Astoria Monday. Hish. I Low. 1 :3 A. M...7.9 feetS:3S A. M...0.O feet P. M. . .7.7 feet;8 5T P. M... 1.0 feet Waterlogged Ferry Lifted. EUGENE, Or., Aug:. 1- Special.) The ferryboat at Harrisburg, on the Pacific highway, which sank a few days ago, was raised yesterday under the direction of Jack McKay. Lane county road superintendent. By the use of considerable Tankee ingenuity, jaok screws and cables, the superin tendent succeeded in raising; the water-logged craft to the surface and repairs will bemade at. once. A new boat, 18x65 feet, is being built to re place the old one. Ships Going; to Other Porta. He sounded warning that the inter ested cities and state must not wait for congress to assume the burden of improvement or "the bulk of New York's commerce will be diverted to other Atlantic ports, and New lork will be lett with the mellow dreams of past greatness." Already several steamship lines on account oi "lim ited and unsatisfactory pier facili ties" contemplate going elsewhere, and increasing congestion will add to their number, while 30 steamship companies have applied for wharfage facilities which the city is unable to furnish. For a quarter of a century "New York has been turning away business . . . and with the forced diversion of traffic to other ports it is a question as to how much longer New York can dream on in the fan cied security of her present watness and past supremacy." He suggests that a committee of New 'York business men visit other ports and find out their plans. He says: The Pacific ports are being improved and enlarged on a big scale, and will, of course, take care of the trade with the orient. Piers Are Out of Date, And for the (rreater part, the piers along New York's waterfront belong to a past age when compared with the equipment of other modern ports of the world. The cargo-handling machinery is generally an tiquated, the piers themselves are inade quate annd badly located, and the ware. house lacillliea are lar uom m ucat. Pacific Coast Shipping. Notes. SEATTLE. Wash., Aug. 1. (Special. With 2. .",00.000 feet of lumber and a ship ment of canned salmon, the steamship Rotarian. third vessel to leave here in the chinning hoard's new service from coast Read The Oregonian classified ads. ports to the river Plate, South America, Columbia Grange Organized. ST. HELENS, Or., Aug. 1. (Spe cial.) Delena grange has been or ganized by A. H. Tarbeli, deputy grange master of Columbia county. The following officers were elected: R. B. Stratton, master; Warren Young, overseer; Leona Young, lecturer; O. H. Langfeldt, steward; J. M. Thompson, assistant steward; M. P. Young, chaplain; PI. N. Nelson, treas urer; Mrs. It. 13. Stratton, secretary. The new grange starts in with a good membership. Phone your want ads to The Orego nian, Main 7070, Automatic 560-95. ." Movements of Vessels. PORTLAND. Aug. 1. Arrived at 6 A M., steamer West Nivarla, from Kobe via Aberdeen. ASTORIA. Aug. 1. Arrived at 9:25 A. M.v steamer Haico, from San Pedro. Sailed at 0::io A. M.. destroyers Burnes. Babbit, Fuller, Percival, Somers and Twigs, for San Francisco. Sailed at 10 A. M.. cruiser Birmingham, for San Francisco. Arrived at 1:10 and lett up at 5 P. M-. steamer Olen, from Kobe. : .' - SAN FRANCISCO, Aug. I. Sailed last nlht. steamer Tiverton, for Portland. Ar rived at 10 A. M.. steamer Rose City, from Portland. Sailed at 11 A. m.. steamer -ny of Topeka. lor Eureka, Coos Bay and Portland. ASTORIA. July 31. Arrived at 7:15 and left UD at P. M., steamer West Nivaria, from Kobe via Aberdeen. TACOIA, Aug. 1. Arrived, steamer An. tinous. from Portland, for England. SEATiTLE, Wash., Aug. 1. Arrived Steamers Admiral Schley, from San Diego; Jefferson, from southeastern Alaska; East ern Leafer. from Yokohama; Admiral Goodrich, from Anchorage; West Jester, from Kobe; J. A. Moffett, from San Pedro. Sailed steamers Admiral Watson for Anchorage: J. A. Moffett, for San Pedro; Robin jondfellow, for United Kingdom. $102,000 6 Improvement Bonds General Obligation of the City of Tillamook, Oregon Due (est.) 1921-30 , Denomination $500 Income Tax Exempt Price to YIELD 6 THERE is scarcely a man, woman or school child in the west who does not know that this famous city is the capital of the greatest cheese and dairying. region in the west. It is solid financially and economically. Its indebtedness is small and resources are as yet hardly tapped. Order by Phone, Wire, Letter or Call onions iwf ! UiuJBpiofoloiLOivcm Bonds Trusts Acceptances Lumbermens Bldg. arT-t!'-yg n The Old Building Problem WE do not know whether you own business property in the new or the ' old district. But if you own either, you will be interested to learn the facts con tained in our fifth bulletin, A copy will be mailed upon receipt of your address. Strong 6 HacNaughten J without deduction for 2 Normal Fed eral Income Tax Ask us to mail you a copy of magazine supplement contain, ing facts and numerous photo prints, showing that the Sin clair Oil Co. stands in the front rank in one of the greatest in dustries of the world, being a perfect unit in the oil industry with its 1860 producing wells; 2800 miles of pipeline connect ing its operations in Texas, Ok lahoma and Kansas with its re fineries in Chicago, Kansas City, etc.; 4234 railway tank cars: 400 distributing stations in the United States; 10 modern oil refineries; a great tonnage of tank steamers in service and under construction for dis tributing its oils coastwise and foreign. The company does a great for eign business. It controls 90 of the oil business done in Cuba. S-yrmr 7V4s S to yield 84. Denominations 100, $500, $1000. Cash or Partial Payment Plan. Money, Too, Worthy . . - of Its Hire No laborer but who receives higher wages now than five years ago; no gTocer now sells sugar twenty pounds for the dol lar; no landlord rents his house at pre-war rates. Call it what you like; call it the law of supply and demand. The fact remains the cost of all' things is higher than it used to be. What rent are you receiving for the money you are investing? You can place your money in the highest grade securities, which normally pay only 5, but which will now pay you 7 to 8. Our August investment list of securities offers the full ad vantage due to the possessor of capital, when capital is scarce. Write or call for our August Investment List. Blyth, Witter.8 l Co. "UNITED STATES CCTVERJ'eiEirr MUNICTEAI. Am) CORPORATION BONDS ' YEON BUILDING, PORTLAND. Telephone Main 8183. San Francisco. Seattle. New York. Los Angeles. Trade With the Orient With correspondents of the highest standing in China, Japan, India, and other countries of the Orient, and branches in all the principal ports on the Pacific Coast of North America, this branch is excellently equipped to serve the interests of the grow ing trade with the Orient. The Canadian Bank of Commerce i Fourth and Stark Streets, Portland, Oregon Four hundred and eighty-five Branches in Canada, also Branches in London, England; Mexico City,. Mexico; Havana, Cuba; Kings ton, Jamaica other Branches will be opened shortly in Central and South America and British West Indies. Wire orders -eoUee." - g MOdTMWETTERM BANK BLDdj. 3 Yakima (Wash.) Donahue Road Act 6 Bonds at par are safe and tax exempt. This is one of the many choice Municipal Bonds shown on our August list of INVESTMENT SUG GESTIONS. Qarstens & jarles, Incorporated Established 1891. Government, Municipal and Corporation Bonds. THIRD FLOOR U. S. NAT'L BANK. BDWY. 4108