TITE MORNING OREGQXIAN. MONDAY. OCTOBER 25, 1920 17 MILLS INVADE EAST Jantzen Firm to Open Office in New York City. SOUTH YIELDING TRADE Honolulu Buys City-Made Bathing Suits; Thousands of Dollars Flowing Into State. The announcement yesterday that the Jantzen Knitting mills of Port land will establish a sales office in New York city is significant -of the way in which Portland industries are Invading- the eastern field. This concern has already been ending- goods to the Atlantic sea board in addition to having & sub stantial business already established In the Chicago and Cleveland district as well as in Kentucky and Florida a.nd other parts of the south. John A. Zehntbauer, president of the Portland concern, announced that his brother C. R. Zehntbauer, who is ice-president, will leave for New Tork city in a few weeks to open the office. Negotiations are already un derway for space In the Pennsylvania hotel. He hopes to be able to open the office, he said, in about three weeks. WMf Money ComfN Here. The mills are already operating a fcales force of eight men. from the of fice of their Chicago agent with the result that large orders are being sent to Portland from that district and middle western money Is being brought here. Not only has the Portland firm In vaded the east and middle west, but It is also making inroads in the Pacific coast field. Mr. Zehntbauer said that one or the salesmen of the firm had sent in orders for $40,000 worth of the manu factured article from the Los Angeles district during the month of Septem ber, all for next year's delivery. In addition, Portland-made bathing suits are being worn at Honolulu as a result of the activities of the Port land firm. Mr. Zehntbauer is author ity for the statement that the Port land manufactured bathing suits are desplacing the hula hula garments of that land of love, ladies and honey moons. Portland Is Enriched. As a result of this nation-wide activity of the Portland plant, which is located at East Twentieth street and Sandy boulevard, several hundred thousands dollars Is annually brought to Portland. The Jantzen Knitting mills. In ad dition to its factory on the east side, maintains two snores in the down town section. An editorial by Sydney B. "Vincent in the last number of the Portland Cham ber of Commerce bulletin points out that Oregon is overlooking one of the greatest potential sources of revenue existing in the state through the non development of the possibilities of tourist traffic to this section of the west. Oregon produces annually millions upon millions worth of timber and Agricultural products, says the edi torial, and if these crops failed or the timber was wiped out by fire the calamity would be immeasurable, but the scenic wonders of Oregon are table and lasting and it is necessary only to "get the house in order" to yeap the harvest. State's Brat Crop. "Oregon has one crop, which, prop erly nurtured, will bring In a single year greater financial returns than any of the products of hey soil, than any of the riches of her- mines, than any of the products of her rivers, and it is not being skillfully cultivated. "It is being fertilized through pub licity; it is being fostered through the expenditures of millions upon millions of dollars for hard surface roads and for macadam roads, but such fertilization will do little good; it will only produce a fraction of the potential revenue; the crop cannot be harvested to Us maximum until addi tional cultivation is brought about. 'This refers to Oregon's one never failing crop the harvest brought into fruition by the tourists. Not ten thousand of them, but the several hundred thousands who would come to Oregon every year If the house Iwas in order. The house Isn't in or der. It is not yet fully built, and therefore cannot be In order to wel come our prospective-guests. Oregon must invest some of her money In the Crater lake region; she must build half a dozen hotels about Mount Hood she must provide comfortable ac commodations, with good food and beds in a dozen other scenic spots in Oregon." Portland people are reported to be retting behind the work of financing the Portland Vegetable Oil Mills com pany In a substantial manner and the management hopes to be able to start work on the erection of the 100-ton plant shortly after the first of next month. This plant is to be put up on the He on which an option has already been secured, it is announced. Or ders for the necessary machinery have also been sent in and are to be released by telegraph when the work of financing is completed. The proposed plant will mean the annual importation of copra to the value of H. 000. 000 and the exporta tion of the manufactured oil in ex cess of Jti.000.000. it is declared. This will mean that the plant will bring 82.000,000, or more, annually to the city. MILL IS CALLErFFINEST K1UGEF1ELD, WASH., $200,000 PLANT COMPLETED. Bratlie Rro. Company Largest In dividual Producers of Cedar Products in District. I RIDGE FIELD, Wash., Oct. 24. (Special.) In an article appearing in its edition of September 1 the tiulf Coast Lumberman characterizes the new cedar siding and shingle mill recently built here as "the finest mill of its kind in the world." The new mill Is owned by the Bratlie Bros. Mill company, and repre sents an investment of about 9200.000. It is eW-ctneally driven throughout, each machine having its individual motor. The power house equipment con sists of three 72xlS high-pressure boilers and a large Allis Chalmers steam turbine of the Parsons type, direct connected to a generator capable of producing 1000 horse power of electrical energy. The Bratlie Bros. Mill company operates two mills In Rldgefleld and are probably the largest individual producers of cedar products In the Columbia river district. The oper ation of the mills is superintended by' J. L- Bratlie with two assistant super intendents, J. E. Lftyne and Thomas Layne. The sales department is pre sided over by H. J. Bratlie, EAST OREGON IS DAIRY Fl F.LT Specialist Finds Alfalfa Thrives In Irrigated Districts. Irrigated districts of eastern Or egon offer splendid opportunities for successful dairying, according to E. B. Fitts, United States and Oregon ag ricultural college dairy field special ist, who recently made a trip to that section. The climate Mr. Pitts de clares to be favorable and there is In addition an abundance of the right kind of feed. "The dairy cow for maximum prof itable production must have a liberal amount of protein," says Mr. Fitts. One of the cheapest and best sources is alfalfa hay. Experienced dairymen everywhere recognize its value and feed large amounts of it even in places far distant from point of pro duction. "Alfalfa thrives luxuriantly In the irrigated regions, and corn, or sun flowers, in the higher belts does well and provides succulence of an ideal nature as silage." SWISS BOXDS SELIi EV XT. S. $6,000,000 of Issue Offered for Public Subscription. The ready market found In this country for foreign bonds carrying a high interest yield is evidenced by the fact that last Monday an under writing syndicate headed by a group of international banks offered for public subscription $6,000,000 city of Zurich,- Switzerland, 25-year 8 per cent sinking fund gold bonds due in ,1945. The books were opened at 10 o'clock and closed at noon, the loan being heavily oversubscribed. The bonds were offered at par. They are required to be retired from a 2 per cent semi-annual sinking fund at 107 and accrued interest, which provides for all the bonds to.be re tired within 25 years at a premium of 7 per cent. A number of Portland dealers. In cluding Freeman Smith & Camp com pany, are members of the underwrite ing syndicate. WATER BENEFITS TOLD BEST WATS OF POTATO IRRI GATION FOTJXD. Experiments of 12 Tears at Oregon Agricultural College Disclose Correct Crop Methods. Irrigation of potatoes at the Oregon Agricultural college experiment sta tion has been carried on for 12 years, under conditions where rainfall for the growing season. April 30 to Octo ber 1, is five and one-half Inches, and the average evaporation about ' 24 inches. Willamette silt loam, on which these experiments were conducted, has a maximum capillary water con tent of about 34 per cent, an optimum moisture content of about 24 per cent, and a wilting point of about 14 per cent. The minimum moisture content under field conditions ts 10 or 12 per gave a higher seasonal moisture content. associated with higher yields.. Two irrigations proved better than the same amount applied with one heavy irrigation. Most economical returns were se cured with light frequent irrigations. which provide a uniform moisture content. Irrigation of one inch every 10 days has given very economical returns and is good practice for gard ens. Potatoes do best with a uniform moisture content. The best time to irrigate potatoes in this soil is when the moisture content in the first foot drops to the 20 per cent point in per cent dry weight. Two light irriga tions have given good returns and three light irrigations have given economical returns' in dry seasons. The most economical returns ob tained with potatoes have been se cured when the depth applied per sea son was 6 inches in wet seasons and two to three inches in dry seasons, while maximum yields have been produced with three or four inches in wet seasons, and six inches in dry seasons. Application of nine inches depth decreased the yield below that obtained with six inches. Applying water in furrows 10 to 18 rods long has proved a suitable length of run for the srilt loam soil. It has been found disastrous in experiments to neglect cultivation after irrigation. Range Steers Not Marketable. Only steers fed alfalfa and silage at the eastern Oregonbranch experi ment station. Union, were in good marketable condition at the end of the feeding period. The others had to be turned out on pasture to get proper finish. In the spring of 1918 the best 24 head were shipped to Portland, while the others were turned on pasture. Some of these lots had received hay only, while others received five pounds of bar ley with the hay. The station re port bulletin 174, "Fattening Steers" says: The cattle each year were In a half fat condition not enough finish to sell satisfactorily and too fat and too large to turn on pasture. The Victory medal can be worn on the uniform only on occasions of mili tary ceremony. Each army medal is sued bears a serial number which is recorded in the adjutant-general's of fice at Washington, D. C, under the name of its owner. Making Business Property Profitable rTHE ability to , realize a reasonable amount of profit from any investment is governed by the efficiency with which that business is managed. In reference to office build ings, apartment houses, ho tels and industrial plants, successful operation is a matter of management which is as willing to handle petty problems as it is able to overcome greater obstacles. We Manage and Develop Property Strong 6 Macriauhton' PIG CLUBS PROSPER MARION Banker of Salem Puts Youth at Work Raising Pork. FUNDS LOANED FOR START From Small Beginning Thousands of Animals Are Now Being Fattened for Fall Market. SALEM, Or, Oct. 24. (Special.) The lowly porker, which, because of its tendencies to trespass on the lands of those other than Its master, is se piited to have been responsible for more homicides and disputes in the rural districts than -have been pro duced through any other single agency, has, with the possible excep tion of the Oregon prune, wiped out more mortgages and other financial obligations than any product linked with the industrial activities of this state, according to George W. and D. w- Eyre, the former of whom is known locally as the father of Ma rion county's pig clubs. About six years ago George Eyre, then active in the affairs of the United States National bank of this city, became enthused with the pos sibilities of the pig and set to work to ascertain how the lowly animal might be advanced to its proper niche in barnyard society. Raising of pigs In those days was a hit-and-miss proposition, according to Mr. Eyre, and the industry had not been con ducted on a scientific basis. Mrs Pig Club Launched. Being well supplied with, money, Mr. Eyre sought out a source of sup ply and later went before the chil dren of the county and urged that they take, an interest in the produc tion of the porker. The children im mediately expressed a willingness to comply with Mr. Eyre's suggestion, but meekly admitted that they were without funds. It was then up to the banker to strike a happy medium Mr. Eyre then started the work of launching Marion county's first pig club, which has grown, steadily, and last year had a membership of 139. Through the bank in which , he was interested Mr. Eyre advanced the members of the pig club sufficient money to purchase a porker. For this cash consideration the youngster placed in the bank his or her prom issory note, payable as a rule from six to eight months after date of issuance and drawing interest at the rate of 6 per cent. Club Members Prosper. From this small beginning the members of the pig club prospered, and in some instances they paid off the notes before they came due in ad dition to buying more porkers. To day a number of the original club memDers are rated as among the most substantial pig raisers in Marion county, and their products have taken blue ribbons at the state fairs and at other competitive exhibitions. That the pig industry in Marion county might be placed on a scientific basis Mr. Eyre conferred with the faculty of tnfc Oregon Agricultural college, with the result that the mem bers of the club were furnished with literature indicating how to best care for the porkers both for breeding and market purposes. Under the tutor ship of this literature and frequent visits by the college experts the chil dren became Interested in the propa 25 -Year gation of the pig and today thousands of these animals are being fattened and placed in condition for the fall market. To get the best results in any community Mr. Eyre believes that the child should be encouraged, for it is he or she who will be the prosperous agriculturist or' livestock raiser of tomorrow. Anmual Competition Held. To further encourae the children, Mr. Eyre annually gave prizes for the four best pigs raised by members of the club, together with arranging competitive events closely linked with the Industry. Exhibiting of the products of the club at the state fair also was encouraged, while enter tainment features helped to stimulate and create an Interest in the indus try. Mr. Eyre said the honesty of the children had been proved beyond any doubt, and that in the six years which his bank had been advancing funds to the youngsters, not more than three or four of the entire num ber of borrowers had failed to liqui date their obligations. This record, Mr. Eyre said, could well be emu lated by their elders. Since the retirement of George W. Eyre from active service in the bank his son, D. Wv Eyre, has been the guiding mind in the pig club work. The younger Mr. Eyre believes that the example set by his father should be continued and to that end the pig club of Marion county will continue to prosper and grow. JUNIORS TO EXHIBIT STOCK Boys' and Girls' Clubs to Figure In Big Portland Show. , OREGON AGRICULTURAL COL LEGE, Corvallis, Oct. 24. (Special.) Boys" and girls' clubs throughout the state will have exhibits in the Pacific International Livestock expo sition at Portland, November 13 to 20, according to information received at the extension service ifrom Frank Sexton, county club leader for the state. Clackamas and Multnomah county clubs will each send six calves .to the show, while the Shedd Jersey Calf club of Linn county will send five and the Iouglas county club four or five. Clubs in other counties are ex pected to participate also. The Til lamook county calf club now has 23 members, and the valley counties are making a good showing in the opin ion of extension workers. Multno mah, Clackamas, Marion and Uma tilla counties are advancing rapidly. Special quarters will be provided by O. -M. Plummer, manager of the exposition. Three girls, one from Klamath county and two from Coos, have signified their intention of at tending. Quarters also will be ar ranged for them. GLTJB MEETS BOND INTEREST Funds Deposited to Care for Cou pons Maturing May 1. Sufficient funds to meet all Interest coupons on the bonds of the Univer sity club of Portland maturing on May 1, 1918, and prior thereto, have been deposited with the Title & Trust company, according to Albert I Grutze, trust officer. The club recently increased Its dues $1 per month for each resident mem ber and the additional income derived from this source and such other funds as may be available are being turned over to the Title & Trust company quarterly until all overdue interest coupons have been paid. - Fifty-nlner Appears Again. The "Fifty-Niner," a publication is sued by the employes of the Ladd tc Tilton bank, appeared last week for the first time since last June when It "closed its columns and retired for the summer vacation," according to its leading editorial. Articles hu morous and otherwise, personal para graphs and announcements of interest to the employes combine to make a cheerful little sheet intended to fos ter a spirit of co-operation and mu tual interest. As this entire issue has been as a matter $25,000,000 Kingdom of - Denmark 8 Per Cent Sinking Fund External Gold Dated October 15, 1920. Interest payable April 15 and October 15. Coupon bonds in denominations of $1000 and $500 registrable as to principal only. Principal, premium and interest will be payable as well in time of war as in time of peace, irrespective of the nationality of the holder. Principal, premium and interest will be payable without deduction for any Danish taxes, present or future, in New York City, in United States Gold Coin of present standard of weight and fineness, at the NATIONAL CITY BANK OF NEW YORK, Fiscal Agents for This Loan THE Government of Denmark will pay as a sinking fund to the National City Bank of New York, the fiscal agent for the loan, sums sufficient to retire $1,250,000 principal amount of bonds annually from the sixth year up to and including the twenty-fifth year. Bonds are redeemable on any interest date as a whole on or after October 15, 1925, or in part through the operation of the sinking fund on or after October" 15, 1926, at 110 if called for redemption on or before October 15, 1935, and at 1071 if called for redemption thereafter; the moneys in the sinking fund shall be used to purchase bonds in the market if obtainable up to and including the redemption prices set forth above. - Price 100 and Interest - Bonds etffered for subscription if, as and when issued and received by us, subject to allotment and approval of counsel. Delivery in temporary form is expected on or about November 1, 1920. The National City Company Offices in more than fifty cities . PORTLAND, TEON BlILDISG. . Telephone Main SOT 2. BONDS ACCEPTANCES PREFERRED STOCKS. The above Information has been obtained partly by cable, from official statements and statistics. While we do not guarantee, we believe it to be correct. Ail statistics relating to foreign money - are expressed In terms of United States gold dollar at par of exchange. IEST0RS' FAITH J RAILS RESTORED ' X Stocks and Bonds Climb Af ter Rate Increase. 12' ROADS SHOW GAINS 1 6 Per. Cent Rise, or $11 a Share, Is Rise Since 1816; Advance Believed to Continue. Public confidence In railway secur ities as investments has been greatly increased by the passage of the trans portation act and the decision of the Interstate Commerce commission granting large Increases in rates. The facts show that substantial increases in the prices of railway stocks and bonds followed immediately after the rate decision of the commission, al though the upward trend was barely perceptible following the passing and signing of the transportation act. "Development indicated." says the Railway Age in its current issae, "that investors were "from Missouri' and after all the years of unwise and unfair regulation had to be 'shown' that there was really going to be a policy of dealing with the railways. Since the rate advance decision was rendered on July 31, railway securi ties have lost their sluggishness and have . pretty steadily advanced In prices. There has also been a large increase in the number bought and sold on the New York stock ex change." Rails Show Gains. The Railway Age gives the follow ing figures showing the Increases that have occurred between July 30 and October 9 in the prices of the stocks of a number of important rail roads. First column low price July SO, 1020. day before rate -Increase was announced. Second column close week ending October 9. 1920. , Railroads , JUT so. Oct.. A. T. & 8. F . 70 8S Atlantic Coast line 83 90 Baltimore & Ohio 31V4 4V4 Illinois Central .. S3 95 . M A St p.. 32 ,,ov4 C. R. I. & P 34 if, 83 N. Y. Central 67 4 7914 Norfolk & Western 101 Northern Pacific 70 89 Southern Railway ...Y.Y.Y.Y." 27 SI union f'acmc 114 126 An analysis of the above figures shows that the average high mark reached in 191S by the stocks of the 12 trunk line railways selected for comparison was 8104. The average price of the same stocks the day be fore the rate decision was rendered was 867. while the average price the Banking Service Your banking requirements may be entrusted to this bank with every confidence that careful and efficient service will be rendered. 'THE CANADIAN BANK OF COMMERCE Portland Branch, Fourth and Stark Sts. sold, this advertisement appears of record only. Va J-s-LVl. ALU XJIVFJ.U Due October 15, 1945. week ending October 9 was $78 an increase since the rate advance case was decided of til a share, or over 16 per cent. IiTUttn Aiala Confident. "On the whole." says the Railway Age. "the figures show that the rate advance decision of the Interstate Comperes commission has had a strong tendency to increase the con fidence of investors in railway secur ities. If the net returns earned by the companies on the new rates prove to be as large as the commission estim ated when It' rendered its decision, the advance in the prices of railway securities should be continued, and such advance is necessary to enable the railways to raise the capital re quired to increase their facilities. "While nnder conditions of great general business activity and pros perity most railroads cannot hope to earn and pay as large returns as the more successful industrial com panies, the rate-making provisions of the transportation act should have the effect of making the return which the railroads will earn much less un certain that the returns of industrial concerns. Certainty of return is quite as attractive to many Investors as the possibility of large returns when business is good obtained at the risk of receiving only small returns when business is bad." TOURISTS RUSH, TO COAST J. L. Etheridge Back From Vaca tion In California. John L. Etheridge. president of Morris Brothers Inc., bond dealers, returned Friday from a month's va cation In California, "where he has been travelling by automobile through the southern part of the state down to1 and over the Mexican border1. Mr. Etheridge says LosAngeles is a booming town, with more actual building under way than any other city in the country, especially in the residential districts, and that tour ists are pouring into the city with every train. "There's no place - like Southern California at this time of the year, and Los Angeles Is a fine town," said Mr. Etheridge. "I like that city far better than San Francisco. To my mind, Los Angeles can be compared in many respects to Portland and San Francisco to Seattle." 'Mr. Etheridge says, however, that the towns just across the Mexican border are unsanitary and unwhole some and that disease and squalor are evident on every band. Coming from the Mexican towns into the United States again made him feel glad that he is an American, he says. $200,000 Dairy Plant Finished. CHEHALIS, Wash., Oct. 24. (Spe cial.) The work of completing the big 3200,000 plant of the Lewis-Pacific Dairymen's association in this city is well along and it is hoped to have the factory ready for business within a short while. President Scollard and the men associated with him on the board of trustees are hopeful that in the manufacture of powdered milk a solution may be found that will help out in the low prices which milk has unfortunately reached in the Pa cific northwest. c Bonds What 9 on Your Money Mens j t 94.82 will net a profit of 4i4.10 will net a profit of 948.20 will net a profit of 4,i41.00 will net a profit of .f'J52-00 win net profit of 18,964.00 will net a profit of Tni !? on the basis of Investment (as scientifically com- 5 2 f"lted I" the 6 Gold Notes of the City of Edmonton. o.ro,Xlnce of Alberta, which we are offering upon a basis of 94.82, maturing in 22 months or September 1. 1922. sj 'B General Obligation 6 GOLD NOTES EDMONTON Province of elding Exempt From Dated September 1, 1920. Due September 1. 1922. ' Price 94.82 Prices Subject to Change Without Notice i The resource and prosperity behind this lsane are too -well kum to mention here. " FINANCIAL STATEMENT " Gross assessed valuation $S6,65.715.00 Value municipal property (not including public utilities) f 11.035.376.00 Net debenture debt 9.48S.997.00 Revenue from public utilities (above cost of opera- xt1.10," ; 767,773.00 Net local improvement debt (rate payers' share) .V... 3.046,763.00 In addition to- being General Obligation Notes, these are secured by long time debentures totaling $2,594,420. Denominations S10O, 950O and SIOOO Principal and semi-annual Interest (March 1 and September 1) payable in U. S. Gold Coin- in New York City and at the offices of Morris Brothers, Inc. Legality approved by Atalone. Malone & Long, Toronto. B E iTelephone or Telegraph Orders at Onr ExpenselBBBB MORRIS BROTHERS, Inc. : "The Premier Municipal Bond House.' Established Over a Qimrtfr Century. Portland. Or. 30D-11 Stark. Other Offices i Huh, and Si 3 Year General Obligation 6 Gold Bonds , Canada's Largest and Wealthiest Province ONTA Due Oct. 1, 1923. Den. $1000. These bonds are exempt from all Dominion Govt. Taxation Price 96.68 Yield 7.25 A Banking Service Deposit Your CHECKING f--"-" uiuiur- a olxarviu tjrxjfm BROADWAY Province of Manitoba 6 Gold Bonds Due Oct. 1, 1925. Price 95.24 To Net 7.15 CITY OF ENTERPRISE, OREGON 6 Improvement Bonds Dated April 1, 1920. Due April 1, 1930. PRICE PAR TO NET 6 Detailed Information on the above issues will be supplied upon request. Qarstens & paries, Jncorporated Estl 1891. Government, Municipal and Corporation Bonds. Third Floor V. S. Bank Hide Bdwy, 41 OS. STOCKS and BONDS Unlisted, Oil, Mining, Industrial Stocks ' Bousht and Sold on Any Market. LIBERTY BOJTDS Bong-tat or Sold in Any Amounts at New York Quotations. Direct Private Wires to All Exchangees. Members Catcaa-o Board of Trade. Rerrin'sRhodesin y ESTABLISHED ISM. , STOCKSand BONDSj Railway Exchann-e Bid;. Main 283. PORTLAND, Tacoma. Seattle. AND SAFETY SECURITY. YIELD ' MARKETABILITY These the most Important factors In an investment, are Ideally com bined In our First Mortgages. Ask for booklet "Some Interesting Facts About First Mortgages." Western Bond & Mortgage COMPANY Main 113 80 Fourth St, 16 60 82.50 166.00 S25.00 1.650.00 3,300.00 EE H B B C H H n n a Alberta ls. J ..I All Dominion Government Taxation H Morris BnildinE. Broadway xlul. Capital One. Million Uollara it Seattle. Tacoma, hn Franclaco, Cal. RIO That Merits Confidence and SAVINGS Funds Here stain liaaiaii Dcyari muoii . and OAK City of Ashland, Or. 6 Improvement Bonds Dated Oct. 1, 1920. Due Oct. 1. 1930 Price Par to Net 6 7v4to7.85 to yield Province of British Columbia -6s Due Oct. 1, 1925. at 94.83, to yield 7.25 Sears, Roebuck & Co. 7s Due Oct. 1. 1921. al 99.20, to yield 7.Si Due Oct. I.'l922. at 98.72, to yield 7.70 Due Oct. 1. 1923. at 98.41, to yield . 7.60 Cash or partial payment plan. Ask for details. Call or phone. Wire orders collect. Second FlooSC Main 64-6 NORTHWESTER BANK BLDG. High-Grade 1