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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Oct. 7, 1920)
' THE 3IORNIXG .OltEGONIAX, THURSDAY, OCTOBER 7, 1920 sugar men averse to pocketing loss Wholesalers Expected to Live Up to Contracts. FAIR PROFITS ADMITTED r.ujcrs Must Pay 22 Cents Be-t-pite Lower Quotations, Says Official ot Company. BOSTON. Oct. 6. The Revere Sug ar Refinery today announced a price of 11 3-4 cents a pound for refined sugar. Two weeks ago the company quoted a nominal price of 21 1-2 cents a pound, with the statement that it was "out of the market." AV. K. Foster, vice president of the American Sugar Refining: company. In a statement to Attorney-General .Allen today in connection with the latter's inquiry into the sugar situa tion, said the company would re quire wholesalers to live up to their contracts for sugar at 22 1-2 cents a pound, notwithstanding" recent de clines. The company would not be Justified in using its surplus of J23. 000,000 to offset losses of its custom ers, he said. , "Is it not a fact that pressure was krought to bear on jobbers to con tract for sujrar at 22 1-2 cents a pound?" Attorney-General Allen asked the witness. Mr. Foster replied that dealers demanded the sugar and that there was a feeling- at the time that there would be a shortage in the fall. Millions Admitted Made. The American company made an average profit of 2 3-4 cents a pound on all sugar sold up to September, the witness said. Mr. Foster set at "slightly over $11,000,000." the operating profits made by the American company dur ing the first eight months of the j ear. Attorney-General Allen then eought to Abtain from the witness a statement as to the extent to which this profit would be impaired if the company reduced its price on the 40,- 000 tons of sugar which Mr. Foster taid it had on hand. Mr. Foster estimated that if the company reduced its price on the un delivered sugar to meet present mar ket conditions it would cause an loss of tlO.000,000. "Well." Attorney-General Allen asked, "if yoi took a loss of five cents a pound, you would lose only 1 i, 500, 000, wouldn't you?" "So it appears," the witness re plied after discussion of 'the calcu lations involved, but he added there were many incidental expenses to be considered. Possible I.omh Offset. Calling the attention of Mr. Foster to a previous statement by him that the company conducted its business on the basis of ultimate net profit in a year, the attorney -general contin ued: "Then with a profit for eight months of Jll.00u.000, a possible loss of $4,500,000 to meet market condi tions would still leave the company a net profit for the year of Jti.OOO, 000. would it not?" Mr. Foster said it would, but he eaid there might be some loss to the company if it had to buy in now sug ars at a price higher than it had contracted to sell for. Mr. Foster said that the total stock of sugar which the company lias on hand is 118,000 barrels, while its un delivered outstanding contracts call for 131.000 barrels. Abnormal Gain Denied. In a prepared statement Mr. Fos ter said: "Notwithstanding the severe decITTie in the price of sugar, less than 5 pr cent of our trade in the New l-Jngland territory has requested can cellation of contracts. Many have, however, asked for postponement of delivery. The attitude of the com pany is now and has been that our company will assist its customers vhtf ask for extension of time in which to receive shipments or to make 'payments. On its part 'it has outstanding contracts for raw sugars entered into months ago at higher prices than those at which retined sugar can now be purchased at re tail. These it must meet, and, as a matter ot fact, the refined sugar which the company has delivered to its New Kngland trade was manufac tured from raw sugar which cost the company as high as 23.62 cents a pound landed in Boston. our company has not this year made an abnormal- sum of money from its operations in New Kngland or elsewhere. For the first eight months of this year the average cost of our raw sugars refined in Boston was 151 cents a -pound. The average price of our refined delivered to the trade was 17 cents a pound. The difference is only 2 cents. "Out of this margin must come- not only any profit, but the entire cost of refining and distributing and the loss incident to making refined sugar out of raw." tumbling: .which "certainly must end a lot of people to the wall." Speakers opposing: the practice told the commission there was no way to avert the menace of overstocking: by dealers who were certain of sustain ing no loss under the guarantee. FARMERS MIGHT RETALIATE Curtailment of Production May Follow Price Curtailment. CHICAGO. Oct. 6. A warning ag-ainst a sudden slump in livestock ana grain prices was issued today by the farmers' grain marketing com mittee of 17, appointed by the Amer ican farm bureau association, which clor.ed a three-day conference here called to discuss .co-operative mar keting. Farmers who, contrary to popular cpitiion, failed to make money 'during the war period, are tired of producing grain and livestock at a loss, the statement says, and may retaliate by curtailing production. Country elevators, now filled with grain for which it is impossible to obtain cars, are threatened with ex tinction should prices be driven lower, according to the statement. FURTHER CUT IS ANXOUXCED Federal Company- Offers Sugar at 11 Yi Cents in Xew York. - NEW YORK, Oct. 6. Further im petus to the downward movement of sugar prices was given today when the Federal Sugar Refining company lowered its list price another cent a pound to 11 V4 cents for fine granu lated sugar. New low record prices for the year were established late today when 5528 bags of Porto Rico sold at 7.28 cents delivered to the refiner. Full duty sugars were offered at 7 cents, c. 1. f., without being taken. Utah-Idaho Price Declines. SALT LAKE CITT, Oct. 6. Reduc tion of the wholesale price of beet sugar 50 cents a hundred pounds, ef fective tomorrow, was announced to day by the Utah-Idaho Sugar com pany of Salt Lake City. This will bring the Utah price to $12.82 and the San Francisco seaboard price of $13.02. HMD BY 00 IS IER CHEERED WS Throngs Greet Senator on His Way to Chicago.' SEVERAL SPEECHES MADE LORD MAYOR IS ARRESTED Wexford Executive Jailed for Ac tion Similar to MaeSwiney's. WEXFORD. Ireland. Oct. 5. Rich ard C'orish. lora mayor of this city, and Edward Foley, a merchant, who were acting as judges at. the Wexford Borough arbitration court, in the town hall here, today, were arrested by the police and escorted to the military barracks Lord Mayor MacSwiney of Cork was arrested under similar circumstances. PRICE CUARAXTEITdEFEXDED Manufacturers Count Practice Good Form of Insurance. "WASHINGTON. Oct. 6. Manufac turers' guarantees against price de clines w4re characterized as a gootl form of "insurance" by representatives of business interests employing the tievice who appeared today at the fed eral trade commission hearing. They urped the commission to follow a lands-off policy and decide complaints against the system on the merits of individual cases. The commission concluded its open 1i vest igation. although briefs may be filed during the next 30 days; Proponents of the guarantee prac tice emphatically denied that it aided in maintaining high prices. On the contrary, they declared it had result Oil ir. an immediate passing on of price reductions by manufacturers to con sumers. As the manufacturer as sumed the risk of losses, the dealer' was forced through competition to j stll at his lowest figure, speakers arfued. W. T. Nardin of St. Louis declared that the evaporated milk industry w hich he represented could not avoid the practice and that sales could not be carried on effectively due to the r.ature of the product without giving dealers such protection. He chal lenged the statement that few guaran tors ever had paid or had been called upon to pay through price reduction, citing cases where refunds had run into thousands "and even tens of thou sands of dollars in a single year." Mr. Nardin said that had the guar antee not been In operation many commodities might have followed eugar in its price collapse and brought ".-cores of substantial businesses" to the verge of bankruptcy. He believed the guaranty would bavc prevented sugar prices from reaching the "peak" to which theyj soared and would have prevented a ' FIGHT ON IN OKLAHOMA (Continued From Firnt Pace.) and on several war measures Gore departed from President Wilson. More lately he was one of the democratic senatorial seceders from Wilson on the league of nations. For that disloyalty tire Wilson democrats determined to relieve him. The re sulting primary contest was the most bitter ever held in Oklahoma. Gore was defeated by a pro-Wilson repre sentative. Scott Ferris, who made his fight on a league platform for the nomination. But the bitterness of that factional fight has made a party schism based partly on the principle of the league and partly on wounded feelings. The Wilson democratic press had gone so far as to say that men who supported Gore were not democrats. Now some of - the defeated followers of Gore say "very well, we are not injured," and some of them arj organizing to vote for the republican candidate. In the part of Oklahom that is sometimes called "Little Dixie," here are many old-fashioned southern democrats born In Georgia and Ala bama whose traditions go back to state rights. An old-fashioned hard shell state-righter, who was innocu lated by Gore with the idea that the league means surrender of sovereign ty and has become "set" in that idea, is hard to change. Many of these are of the temper that put Tom Wat son in the Georgia senatorshlp. They will undoubtedly be a factor in this senatorial election. The republican beneficiary of this defection, John W. Harrold, is a lawyer who until a year ago had no greater public dis tinction than the office of referee in bankruptcy. Vote for Berarer Recalled. Last October Harrold was elected to congress in a special election in a normally democratic district. Dur ing his brief service in congress he attracted attention by being one of the republican members who voted to seat the Milwaukee socialist, Victor Berger, who was under charges of disloyalty.. That vote might have been mere eccentricity or it might have been action on principle. Prob ably it was more nearly the latter. Nobody thinks of Harrold as a radical or socialist, though his action will get him much of the solcialist vote. Another factor relied on by the republicans to help them in the senatorship fight and to a lesser ex tent in the presidential regime, is the general discontent with the national administration, which occasionally expresses itself in the words, "dern Wilson anyhow." . Similarly, two- factors work against the republicans. One is the negro question. Oklahoma is a southern state with separate railroad cars and stations for negroes. Some of Hard ing's utterances have tend- - to revive sensitiveness about the color line. Also some of the activities of the republican national committee in Oklahoma during the present cam paign have not commended them selves even to many who are republicans. League of Nations, Business Stabil ity and Increased Production Are Topics Discussed. CHICAGO. Oct. . Senator Hardins stopped over for four , hours in Chi cago tonight on his mid-western speaking: trip, but scent the time quietly at a downtown hotel, rest ing and talking: over campaign pol icies with party leaders. Although no-speech nor formal re ception was planned, the candidate did not escape popular attention. A crowd at the railway station cheered him when he emerged from his pri vate car and another throng was gathered about his hotel. During his trip from Marion he had'been greeted by cheering throngs at several Ohio and Indiana cities and made short speeches at Lima, O.; Decatur, Hunt ington, Crown Point and Hammond, Ind. Departing late tonight the senator will make his first prepared speech of his trip at Des Moines tomorrow morning. A pronouncement on the league of nations, probably embody ing a reply to recent democratic ut terances.will be his principal theme. The league of nations, business sta bility, increased production and elec tion of a republican congress were among the many issues discussed by the nominee in his rear platform speeches across Ohio and Indiana. At nearly every stop he referred to the preservation of American na tionality and reiterated his pledge that when he becomes president no council of foreign powers ever would send American soldiers to war. American Market Ilrnt, At Lima and again at Hammond the senator declared he wanted to main tain the present high standard of wages, but on condition that produc tion was kept at a high efficiency. "I caution, you," he said at Lima, "that that never could happen under the policies of a party which believes in opening the doors of America to foreign-made products. If I am elect ed president, as I expect .to be, I am going to stand for the policy that furnishes American markets first for American products." "You rejoice In the new standard of compensation, and I rejoice with you, but you are grieved about the high cost of living and you have a right to be grieved about it. While men may talk to you about reducing the cost of living, yet it can be effectively reduced only in one way. and that is by giving the best efficiency that is in you so as to reduce the cost of production." Many children were in the crowd at Decatur and Senator Harding told them that on their account he wanted to keep the nation free from en tanglements that would impair its Ideals and its -integrity. It was his ambition,, he said, to assure "for thee boys and girls the same kind of United States that I looked forward to when I was In the public schools." In making a plea at Huntington for a federal administration that "would get down to real business methods" in the conduct of govern ment the candidate declared his be lief that the people wanted a change and were going to get it. "And if you are going to put the republican party in power in the executive branch," he continued. "I want to ask you to make sure that you put it in power also in the leg islative branch and send my friend Jim Watson back to the United States senate." Taking his cue from someone in the crowd at Hammond, who told him that 4000 men from that city were in the army during the war, the senator praised the patriotism of the service men and said the time would come when the government could reward them. "I want to say to yon service men in this audience." he said, "that I want the government to show you the gratitude of the American people. Are Your Eyes Satisfied? Let my perfect-fitting Glasses Satisfy Them DR. WHEAT Eyesight Specialist 207 Morgan Building Entrance 346 2 Washington St. Queen's Palace In Litigation. HONOLULU, T. H., Oct. 6. (Spe cial.) Suit to condemn the historic Washington place, home of the late Queen Liliuokalani. for public pur poses has been filed in the circuit court. The territory wants the prop erty for use as an executive -man sion while heirs want to retain the place. In Carpathia an embroidered hand kerchief is used as a symbol of a marriage engagement. YOUR collar" has more importance per square inch than anything else you wear. EAR L & WILSON.nWt, K (pilars & S flirts jj mwoep ocawuutt Rue de la Paix Chocolates, $2 Street Floor oUtmnm (?o. c) "Merchandise of e Merit Only 1 Here is, Concrete Evidence That Men's Superior Suits and1 Overcoats Can Be Sold at Low Prices: i i j I - r a. i i ' Suits lrW Lgham i mb II SI 3$&ft Hlsh &i tea Mmm 1 J , i 'fluffs f?ViiiLti ,-;k.M---r-.v 5 I I a i TU ' ,; j c; t i rr- a Kir iiiiAin ofiuuri uyui'w U3 u i &o&iuuuf& LyjJ& I i c I of the smart models awaiting your selection. i - ; , Sale of Men's Handkerchiefs Today; Street Floor A Great 3 -Day Sale which men, who know clothes values, will recognize as a sale of real ' merit, offering 200 Men's and Young Men's Handsome New Fall Suits At an exceptionally low price for, exceptionally high-grade suits Our buyer decided that he wanted to give men who abso lutely insist upon getting the best value available for their mopey, the best suits that can be bought anywhere for $39.50. In order to do so it meant taking higher-priced suits from regu lar stock and reducing them. I $39.50 i In gathering them together he showed no discrimination : Stein-Bloch, Langham and Langham High Suits were in cluded, and regardless of cost price, the $39.50 price-tag was affixed on each. POINTS TO REMEMBER : No. 1 Every suit is all-wool. No. 2 Every desirable nen style is represented. No. 3 The best fabrics were used. No. 4- The best tailoring was put into them. No. 5 Each suit is perfect-fitting. The fabrics include cassimeres, cheviots and unfinished worsteds, the latter so popular here in Portland. There are smart mixtures, plaids, stripes and plain colors. And 1 00 Men's and Young Men's Ail-Wool Overcoats At $26.5 Made by the famous Oregon City Woolen Mills This, we take it, should be sufficient recommendation for them. At least it is a guarantee that the fabrics are ALL-WOOL and you may depend upon it that $26.50 is less than the regular price A GREAT DEAL LESS I Do not wait for a better offering 1 We have reasons to believe that there will be none to equal this one, making the possibilities of a better one more unlikely. Smart dark mixtures and over-plaids, in browns, tans, grays and greens. Full and half-belt models with slash pockets and convertible illars. Fifth Floor Lipman, IV olfe & Co. WATCH THE BIG 4 Stomach-ICidn ey s - He art-Liver Keep the vital organs healthy by regularly taking the world s stand ard remedy for kidney, liver, bladder and. uric acid troubles COLD MEDAL The Nntional Remedy of Holland foi centuries and endorsed by Queen Wilhel aiina. At all druggists, three sizes. Coo'k. fas the name Gold Mdo on.TTUT baa euad accept no imitatioft. Hair Grown on Bald Head Aftar hems almost totally bold, a New Yorker ttappily found aomethtnp; wbleb brought oat a nw( luxuriant prowtb of hair of which ho is ao proud that b will vend tba information free to an yon 7ho aaka for It. Write: John H. Brit La in. Station P. Mew York. N. Y. Many woaneo and tnn bra stows hair after aM else fail4. Cvt (tut at, show etbvra; tlua ia ganai. THE C. GEE WO CUIMiSB C. GEB WO has mads a life study ot the curative proper ties pos sessed In roots, herbs, buds and bark, and has r--X.3fc compounded there- - 'V t fcw from his wonder- I tJ-W! lul. w e 1 1 - known LIT - VCji-lX, remedies, all of fectljr harmless, as no poisonous drugs or narcotics of any kind are used In their make up. For stomacn. uog, 'kidney, liver, rheumatism, neu ralgia, catarrh, bladder, blood, nerv ousness, gall stone and all disorders of men. women and children. Try C. Gee Wo's Wonderful and Well Known Root and K:rb Remedies. Good results will surely and quickly follow. ' AT 102Vi FIRST STREET. I'ORTLAJiO. Kill That Cold With FOR -Colds, Coughs CASCARA hJ QUININE omw AND La Grippe Neglected Colds are Dangerous Take no chances. Keep this standard remedy handy for the first sneeze. ' Breaks op a cold in 24 hours Relieves Grippe in 3 days Excellent for Headache Quinine In this form does not affect the bead Cascara is best Tonic Laxative No Opiate in Hill's. ALL DRUGGISTS SELL IT PHONE YOUR WANT ADS TO THE OREGONIAN Main 7070 A 6095 SAGE AND SULPHUR DARKENS GRAY HAIR It's Grandmother's Recipe to Restore Color, Gloss and Attractiveness. Almost everyone knows that Sage Tea and Sulphur, properly compound ed, bringrs back the natural color and lustre to the hair when faded, streaked or Bray. Years ago the only way to gret this mixture was to make it at home, which is mussy and trou blesome. Nowadays, by asking at any drug store for "Wyeth's Sage and Sulphur Compounl." you will get a large bottle of this famous old re cipe, improved by the addition of other ingredients .at a small cost. Don't stay gray! Try it! No one can possibly tell that you darkened your hair, as it docs it so naturally and evenly. .You dampen a sponge or soft brush with it and draw this through your hair, taking one small strand at a time: by morning the gray hair disappears, and after an other application or two, your hair becomes beautifully dark, glossy and attractive. Adv. .