THE MORNING OltEGONIAN, FRIDAY, MARCII 3, 1922
573,523,812 PROFIT
Oil PHONES IN 1921
S. & H. Trading Stamps Will Be Given on All Charge Accounts If Paid in Full on or Before the 10th of Each Month
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Quality First- and Full Value for Your Money a Safe and Satisfactory Place to Shop
Richardson's
Linens
the world's standard; of quality.
Sold in Portland' only at this
store. Linen Dept., Main Floor.
Foot-Saver
Shoes
Come in and let us explain
the many superior features of
this footwear. MAIN FLOOR.
Children's Hair
Bobbed
Heart's Desire curl, curled
bob, straight cut, etc. Man bar
ber. Near Beauty Shop, 2d Fir.
Mail Orders
given prompt attention by experi
enced shoppers. Out-of-town peo
ple are invited to make use of
this special service at all times.
Sum Available for Dividends
and Interest.
RELIABLE MERCHANDISE RELIABLE METHODS.
Tmorrison. alder, west park, and tenth streets,!
STATEMENT IS ISSUED
Women of Discriminating Taste Look to This Store for Correct Modes
And This Style Leadership Was Never so Pronounced as Now See Fashion Exhibit in the Garment Salons, Second Floor
ITJgures ot Parent Company Are
Announced -Western Electric
Held Dependent Branch.
The American Bell Telephone com
pany, of which the Pacific Telephone
and Telegraph company operating in
Oregon and other western states is a
subsidiary, had available for interest i
and dividends at the end of 1921 $73,
523,813.77, after making adequate pro
vision for depreciation and obsoles
cence, and for federal and other taxes
chargeable against 1921 earnings but
payable in 1922.
This was the statement found in
the annual report of the American
company which was released for pub
lication yesterday.
Interest charges in 1921, according
to the report, were $19,521,109.05, an
Increase of J655.420.61 over similar
charges for 1920, and dividends paid
to stockholders at the rate of J8 a
share for the first quarter of 1921
and $9 a share for the last three
quarters of the year, amounting to
J42.674.403.
3,O00,00O (or Contingencies.
Of the resulting balance, the report
Btated, there was appropriated for con
tingencies J3, 000,000, leaving J8.928,
300.72 for other purposes.
Although representatives of the Pa
cific company gained their increase
and had such increase sustained on
the grounds that the company was
ooerating in Oregon at a loss, the
parent company in its report boasts
of uninterrupted prosperity for the
last 40 years, a prosperity that, de
spite the general business depression
during the last year throughout the
country, has increased materially dur
ing 1921.
The capital stock, bonds and pay
able notes of the Bell system out
standing at the close of 1921, the
report stated, were $1,301, 326,608, a
net increase of approximately $193,-
900,000 over similar obligations out
x standing at the end of 1920. The
book cost of the net assets, devoted
to earning a return on theso out
standing securities, amounts to more
than Jl, 807,000,000, "while the actual
value thereof is considerably in
excess o this figure," the report said
Considerable t'me was devoted at
the telephone rehearing to a discus
sion of the relationship of the West
ern Blectric company, a manufactur
ing concern owned by the American
Bell company, to the Pacific Tele
phone & Telegraph company and the
commission was informed that the
contract between the Western Elec
tric and the Pacific company was of
tremendous value to the Pacific com
pany and its subscribers.
"The company and its predecessor,"
the report said, "have paid divi
dends to the public (its stockholders
at the rate of at least $7.50 a share
each year for the last 40 year, dur.
ing the last 15 years through the
first quarter of 1921 the race was
uniformly J8 a share; and beginning
with the second quarter of 1321 the
dividend rate has been established
at $9 a share each year."
AaaeW Grow $268,S00.9U8.
The report stated that the assets
of the Bell system show a total in
crease of $268,260,968 during the year. ,
Of this amount, it was statea, ap- j
proximately $191,000,000 represented
investment in permanent assets, while
the remainder represented working
assets, of which a considerable part
remained available from new financ
ing during 1921.
The report of the American com
pany stated that the associated com
panies are not dependent upon the
"Western Electric, but that on the
other hand the Western Electric is
dependent upon the associated com
panies. In analyzing the financial condition
f the Western Electric, the Amer
ican company gave a keen insight
into the benefits of the relationship
of the Western Electric company and
the associated companies.
Sales Aggregate SlSO.SftO.OOO.
"The sales billed by the Western
Electric company," the report said,
"during 1921 aggregated $189,800,000,
of which $135,600,000 were to the Bell
companies and $54,200,000 were to
Other customers."
"This is an increase over the pre
vious year of 19 per cent to the Bell
companies and a decrease of 41 per
cent to other customers. It fairly
indicates, on tho one hand, the activ
ity of the telephone companies in
providing additional plant, and, on
the other hand, the severe depression
that characterized the electrical job
bing business during 1921.
"The company (Western Electric)
reduced its floating indebtedness dur
ing the year by $14,000,000 and in
creased its cash on hand by $5,400,000,
a total improvement of about $19,400,.
000 in its financial position.
76,0OU,O0O Orders Infilled.
Its unfilled orders on hand at the
end of the year aggregated about
$76,000,000, as compared with $83,000,
000 on December 31. 1920. "Its esti
mates indicate a volume of business
in 1923 substantially the same as in
1921." j
The report said that at the end of
1921 there were approximately 10,300
separate telephone companies in the
United States. Of them, according to
the report. 26 were associated com
panies and 9264 were independent
companies whose stations were con
nected with the Bell system. The
report stated that there were also a
large number of rural lines and asso,
clations not rated as companies, but
operated mainly on a mutual or co
operative ba.sis. and of these more
than 26,000 were connected with the
Bell system at the end of the year.
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'Silk Week'
A Silk-selling: event of un
usual importance offering; the
choicest of the new season's
weaves at substantial reductions.
White Silks, Black Siiks, Plain
Silks, Fancy Silks, Crepes in
fact all the popular kinds are
included in the sale. Take quick
advantage of this opportunity
to SAVE ON QUALITY SILKS.
MAIN FLOOR
WASCO FARMERS ROUSED
Mass Meeting Adopts Resolution
Demanding Telephone Relief.
THE DALLKS, Or., March 2. (Spe
cial.) Wasco county farmers are dis
satisfied with the findings of the
public service commission in regard
to the telephone rate hearing. This
was made clear yesterday when 125
farmers from all parts of the county
assembled at a farmers' union meet
ing and adopted a resolution de
manding alleviation of present tele
phone conditions.
Resolutions were also adopted to
the effect that the state should build
its main highways before spending
money on scenic roads: commending
the congressional farm bloc for its
work in procuring the passage o"
the co-operative marketing bill, ''and
opposing transfer of the forestry
bureau from the department of agri
culture to the department of interior.
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Crep
e de Chine
Undies
Bargain Circle, First Floor
Selected lines taken from our
regular stock and specially
priced for ONE DAY ONLY.
Chemise
Women's Envelope Chemise
of' splendid quality Crepe de
Chine. Tailored and fancy styles,
trimmed with laces, etc. Spe
cially priced .$1.98 to $3.95
Vests
Crepe de Chine and Seco Silk
Vests in several attractive styles.
These are correctly fashioned
and nicely finished in every
way. Special at $1.98, $2.25
Bloomers
Women's Bloomers of extra
quality heavy Crepe de Chine in
flesh color. Elastic at waist
and at knee. $4.00 a pair.
The Smartest Suit Fashions
In a Feature Showing: at Popular Prices
$29.50 $32.50
$35.00 $45.00
Giving the women of Portland and vicinity an op
portunity to see and compare values. At each of the
above prices there are a number of styles all correct
in fashion and beautifully tailored. Suits made up in
tricotine, tweeds, velours and checked materials. Box,
semi-box, flare, plaited and tailored models. Short
and medium length coats. Trimmed with bias folds,
buttons, etc. In. the showing are many sport models
with tuxedo collars and) patch pockets. Navy and' other
popular shades also black. Before you decide on that
new suit see this attractive showing. Dept. 2d Floor.
Latest Sport
Dresses
In high, favor for Spring wear are these exceeding
smart new Sport Dresses just in by express. Of tweed
and checked materials in various colorings suggestive
of the new season, including orchid, tan, jade, green,
copen and rust. Sleeveless jumper effects, coat effects
with full sleeves, straightline and other styles. Some
have coat or cape to match. One model has white
pique collars and cuffs. Prices range from $26..75-$65,
Exclusive Agency for Peggy jtaige Dresses,
Exclusive Agency for Betty Wales Dresses.
Garment Salons
2d Floor
StLf-RtOUOKfi
M9361
Portland's Largest and Most
Complete Showing of
Nemo Corsets
$4 to $9.25
Nothing reveals stoutness quite so much, as ill
proportioned corseting. Nemo Self-Reducing Cor
sets give the figure that trim appearance so es
sential to the proper fitting of the gown. Nemo
Corsets are shown in models for all types of fig
ures and in various materials. Consult our ex
pert corsetieres. Priced from($l up to $9.25
Nemo Circlets $1
faultlessly made and1 fit with the same perfec
tion 'that characterizes Nemo Corsets. Designed
for slight, medium and heavier figures. Special $1
Corset Salons Second Floor
New Spring
Ribbons
We are pleased to announce
a fresh shipment of the new
Spring Ribbons in the much
wanted staples:
Satins r Grosgrains
Two-Tones
Cire Picot Edge
Black and all tho newest
6hades and best widths. Cus
tomers who have been waiting
for these are advised to supply
their needs as early as possible.
MODERATE PRICES prevail.
Ribbon Department, Main Floor
Charming
Hand-Made
Blouses
You will be delighted with
these dainty new models, for
they are most expressive of the
new season in their exquisite
fashioning. The Spring ward
robe is not complete without a
hand-made Blouse or two and
now is the best time to make
selections. Choose here from a
large selection of models in tai
lored and' fancy effects. Many
have vest fronts, tuxedo and
roll collars. $3.25 to $17.50
Garment Salons, 2d Floor
New Springtime Laces
and Flouncings
Now that the making-up season is at hand women will be in
terested in this attractive showing of the new novelties in laces
and flouncings for dresses and blouses.
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Cire Laces I Panel Laces
36-inch. Cire Flouncings and
Allovers in a variety of beau
tiful patterns in floral and con
ventional effects. Brown, navy,
white, taffy, gold, honeydew
silver, orchid, delph, orange,
black, fuchsia, etc. Ask to see
these new Laces. Yard' $4 .50
Cire Lace Flouncings in the
new panel designs for dresses
and shoulder drapes. Apple
blossom, brown and taffy. 50
inches wide. The yard $6.50.
New Metal Lace Flouncings
ingorgeous designs and1 color
ings. Priced special at $11.50
Brocade Chiffon Lace
Something New!
36 inches wide, net foundation -with, beautiful designs. Dark
blue, honeydew, apple blossom, chin-chin blue and white. One of
the very newest novelties for Spring frocks." Has the rich ap
pearance of real brocaded chiffon. Priced at $6.50 yard.
Lace Department, Main Floor
400 Prs. Men's Trousers
in a Sensational 2 Days' Sale
The biggest sale of ts kind we have ever announced
and there isn't a man in Portland who couldn't profitably
take advantage of jt.
ONE PRICE
Basement Millinery
300 New Spring Hats
2 Days' Sale $2.98
This sale will appeal to the woman who prefers to have variety
in headwear for it enables her to buy several hats at no addi
tional outlay. Smart, up-to-date models attractively trimmed with
flowers, fruit, beads, wreaths, etc. Satin, Milan Hemps, Straws,
fancy Braids, etc. Black and a large selection of QO QQ
the new shades. Basement Two Days' Sale, priced' at &dUO
New Hat Braids, Special, 49c Bolt
Quality Trousers of a famous make carefully tailored
in every detail, and perfect fitting. You have but to see
these garments to realize their remarkably good value.
Every Pair All Wool
made from high-grade materials in gray and brown
mixtures. Choice of a splendid selection of patterns.
Strong enough for work, yet they have all the fashion
able lines of dress trousers. Two swing pockets, two set
in hip pockets with buttons, cuff bottoms, belt loops.
Compare these with the best $5 value in the city. The
range of sizes is practically complete. PO ftf
d(n -nairn nnlv. Two-Tlflvs' Sale' tiriVe DOVJU
MENS PAJAMAS of -good grade outing flan- PRESIDENT SUSPENDERS in attractive new
nel. Pink, blue, lavender stripes. ETQ patterns and colors. Fresh stock. Best
Pink, blue, lavender stripes. flf fTQ
Best pearl buttons. Specially priced i-a.t webbing. Priced specially per
Spring Sale of Men's Silk Shirts
$6.50 Shirts $5.45
$10.00 Shirts $8.50
Main Floor' This takes in our entire line of Men's Fancy
Silk Shirts white excepted. Shirts of standard quality.
Distinctive patterns in a large selection of colorings.
Men's $6.50 QpT K i Men's $8.50 Oft QC
tijyity Silk Shirts tVVI'VtJ
Silk Shirts
Men's $7.50 JK A K
Silk Shirts
Silk Shirts
Men's $9.00 (jJrT rf
Silk Shirts B i
Principal Portland
Agency for
Interwoven Hose
High-Grade Madras Shirts
Priced at $2.50
New shipment just received. Beautiful silk striped
madras in a fine selection of neat, dressy patterns. See
window. Full assortment of sizes. Priced at only $2.50
Sport Coats $3.65
Main Floor All-wool heather Sport Coats in V-neck style,
with two pockets. Light in weight yet com- (PO ?f?
fortably warm. Just the thing for Spring. tOtJ.Utl
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Madam! Your Spring
Hat Is Here
GRACEFUL! DASHING! DEBONAIR! with tropical color
ings in brilliant hues that foretell a season of unusual novelties.
There are smart perky little turbans' and striking picture hats with
drooping brims and hats that embody every distinctive style touch.
You will enjoy seeing these clever new creations whether you are
ready to purchase or not.
And Above All Thrilling Values
$12.50
SUPER VALUES
Boys' 2-Pant Suits
Special $9.45
Suits selected from our regular lines every one of them up to
standard in quality and workmanship. The only reason we offer
them at above price is that sizes are broken in some of tho styles
and materials. All are regular $12.50 values. And the extra pair
of trousers gives added service. Loose belt styles'. Full QQ A C
lined pants. Broken sizes 7 to 17. Priced special at iDUO
Sport Caps $1
The smart, snappy patterns
ahdl styles boys are keen about.
Sizes 6 to 7. Made with un
breakable visors and leather in
side bands. Extra ff
values. Special, only D-a-Ul
Sport Jerseys
The very thing for him to slip
on when he discards the heavy
overcoat. Shown in gray, ma
roon and heather mixtures.
Sizes range from 28 up to 3(5.
Priced at $2.45 and $:l.50
Boys' Store, Main Floor
For the Lenten
Season
: Order your Lenten supplies
at this store and get quality
products. Complete stocks of
Domestic
and Imported
Specialties
Kippered, smoked dried,
salted and) pickled Fish, Fish
Paste, Anchovies, Sardellen,
Salmon, Codfish, Herring,
H a d d i e s, Eels, Mackerel,
Stock-Fish and many others.
Special Boneless OQ
Codfish, per pound
Country Gentleman OA
Canned Corn; on sale
Argo Corn Starch OF
priced special, 3 pkgs.
Model Grocery, 4th Floor
From March 3rd to March 11th
49c
(Regular price $1.20)
Cover to fit 20c itr
.Rtgulaw pricm 40c)
For Sale 3d Floor
CITY ASKS COUNTY LAND
ACQCISITIOV OF OLD POOR
FARM SITE PROPOSED.
Plan Is to Use Property as Park
and Playground and Perhaps
for Golf Course.
Transfer to the city of Portland of
202 acres, comprising the former site
of the county poor farm, for use as
a park and playground, was asked of
the county board of commissioners
yesterday m a letter sent to Charles
S Iiudeen, chairman of the board, by
City Commissioner Pier.
In bis letter Commissioner Pier
said that the city is In a position to
improve this property and put It to
use for the citizens of both the city
of Portland and the county of Mult
nomah, The property has been held
by the city on a short-time lease, but
City Commissioner pier wants It
transferred formally to the city so
that permanent improvements can be
made.
Chairman. Rudeen of the county
boar of commissioners said that
while he had not yet received Mr,
Pier's letter, he would give the mat.
ter careful consideration.
"If the city can put this tract of
land to good use for the benefit of
the citizens Df Portland and Multno
mah county. I would be in favor of
transferring It. The property be
longs to the public, and I am eager
to see that it is used in some way.
As soon as I receive the letter will
see Commissioner Pier and discuss
the proposition."
The eld poor-farm tract, is 800 feet,
south of the southerly boundary of
"Washington park, and should It be
given to the city, jt is probable that
an effort will be made tq acquire the
Intervening property and connect the
two parks. It has been proposed to
convert a portion of the old poor
farm property into a municipal golf
course, and to convert what remains
Into a park and playground.
The property lies outside of the
city limits, which would prohibit the
city from spending money on it for
the time being. However, should the
transfer of the property be made, it
would be a simple matter to have
the property annexed to the city,
which would give the park authori
ties the right to Improve it.
Even if this is not done, there are
private citizens willing to co-operate
with the city in financing the devel
opment of a municipal golf course on
this property.
The contour of the land is such
that it is exceptionally well adapted
for a golf course, and the attendance
at the Eastmoreland links last year
has convinced park authorities that
another large links quickly will be
come self-supporting.
the lodge will bold an initiation for
100 candidates.
ELKS TO INSTALL RADIO
Station Will Be Placed on Top of
Chebalis Temple.
CHEHALIS, Wash., March 2. (Spe
cial.) Chehalis Elks will install a
powerful radio station on top of the
four-story Elks' temple building on
Market street in the heart of the
city's business district. It is- planned
to connect the machine so tha.t com
munications may be heard in both
the lodge room and the club room
The installation cost will be borne
principally by members of the lodge.
It is expected to have the installa
tion completed by March 30,when
Debate Series Postponed.
WASHOUGAL, Wash., March 2.
J (Special.) The first series of debates
in ine AC wuuuiy icet&uc uctweo.
the Camas, Mill Plain and Washougal
high echools, scheduled for tonight,
were postponed on, account of illness.
It is expected that the debates will
be held within two Weeks. The ques
tion to be discussed is the prohibition
of immigration for a period of five
years.
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School Children Accosted.
A pervert has been attempting to
entice school children in the vicinity
of the Vernon school, the police were
told yesterday. The three daughters
of Mrs. Theresa Berlin, 825 Mason
street, have been accosted by the
man for ihe past several mornings,
and police have been asked to guard
this district during the morninirR.
The fellow wra a gray overcoat
and has glaxneii. He In tall and
heavily built, according to a descrip
tion (riven by the chtllr-fi.
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Groen Chllo Chcco
certainly is swell with spaghettior macaroni
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