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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Dec. 30, 1922)
THE MORNING OREGONIAN. SATURDAY, DECEMBER 30. 1923 BORROWING 10 PAY nuns no Power for State Treasurer Suggested. KOZER MAKES REPORT! Money With Which to Meet Ob ligations Is Declared Fre- quently Lacking. jj , " STARTS -TODAY! S3H -TTrtfSETi - VOW HtRBERG imlS V SALEM, Or., Dec. 29. (Special.) Amendment of the present laws so as to authorize the state treasurer to borrow money to care for the im mediate needs of the commonwealth instead of indorsing warrants "not paid for want of funds." will-be rec ommended by Sam Kozer, secretary of state, in his biennial report to the legislature. "It transpires frequently in the "ordinary course of business," reads the recommendation, "that upon the presentation of general fund war rants to the state treasurer, there is no money in this fund from which the warrants may be paid. This means that the general fund has be come depleted because of demands thereon in excess of receipts accru ing through the annual tax appor tionments to the several counties, which have not yet been collected and turned over to the treasurer. Interest Paid on Warrants. "The law defining the duties of Ithe state treasurer require him- to pay all' warrants drawn on the treasury in the order in which they are presented. If there are no funds In the treasury then he shall in dorse on such warrants 'not paid for want of funds,' together with the date, and all warrants so in dorsed shall draw interest at the rate of 6 per cent until called in for payment. "The lay requiring, the state treasurer to indorse warrants where jreneral fund money is insufficient Ifor their payment has been in force lnce the year 1859. For a number of years thereafter the number of warrants which the treasurer was obliged to indorse for want of funds was small and the amount of money Involved not large. Work Greatly Increased. "The state has grown, however, and the number of warrants re quired to be indorsed not paid for "want of funds has increased corre spondingly. This has not only en tailed a large amount of work for the state treasurer but has in creased the interest charge against the state. "It has occurred to me that Mis method of taking care of, situations of this kind can be materially sim plified and a public convenience af forded by authorizing the state treasurer to borrow moneys for the general fund only to the extent at such moneys may be required from time to time to meet the payment ot outstanding warrants which have been issued by the secretary of state pursuant to law. "This money could undoubtedly be borrowed at. a less rate of interest than the legal rate, and certificates could be issued in such denomina tions that whenever any sums of money were received in the treasury they could be immediately applied in payment of such outstanding cer tificates and relieve the state of the interest burden just to that extent. Federal System Is Cited. "nder existing laws the treasurer Is really obliged to await payment nito the general fund of a consider able sum, then issue his public call for the redemption of outstanding warrants, which have been pre sented in the interim and indorsed not paid for want of funds. Even though money could not be bor rowed from the bank t less than the legal rate of interest, I apprehend that there would be some saving in the interest charge, but the great consideration is the public conven ience afforded and the preservation of the credit of the state and the maintenance of the confidence of Its citizens. "The federal government, as I Widerstand it, conducts its affairs In this way. Its obligations are always paid in cash and to meet their payment it borrows the neces sary funds through the issuance of appropriate negotiable" paper, such as certificates of indebtedness and the like." Y. M. C. A. GETS AWARD Local School Receives More Funds to Help ex-Service Men. A final award of $500 from the national T. M. C. A. war work funds for the benefit of ex-service men has been made to the Oregon Insti tute of Technology, the local Y. M. C. A. school. The national council stipulates that the distribution must I. be completed by 2 o'clock this after- noon. The funds, which were estab lished to help veterans obtain train ing along useful lines, total $5,176, 497 in the United States. Local branches affected are:, Auto mechanics, storage battery, automo bile electrical mechanics, radio tel egraphy, mechanical drawing, col lege preparatory, salesmanship, pub lic speaking, accountancy, business and elementary courses for men. Awards at the local Y. M. C. A school have served a large number of students since the close of the war. GALES WRECK VESSELS (Continued From First Page.) gigantic wave. Battened below decks for most of the voyage were 246 seasick passengers. The President Monroe, snow and ice covered from stem to stern, ar rived looking like an iceberg, after fighting the worst gales her skipper could remember. Once, he said, when a hundred-miles-an-hour wind was blowing, she could make but four knots. Chaudiero Goes on Kooks. HAMILTON, Bermuda, Dec. 29. (By the Associated Press.) The passenger steamship Chaudiere, owned and operated by the Royal Mail Steam Packet company, went on the rocks off Bermuda today while on the run from West Indian ports to Nova Scotia. The vessel was badly damaged, but has been re f lftated. There was no loss of life. Storm Center East of Cape Cod. WASHINGTON, D. C. Dec. 29. The storm sweeping the middle and , north Atlantic coast was reported today by the weather bureau to be centered east of Cape Cod and mov ing east-northeastward. Heavy snowfall in portions of New England I ' : ; ONLY! ' j k (1 KEATES' CONCERT . and CON 1 ESi SWf ij ; On Our fjrlP MIGHTY ORGAN . ' 1. Selection, "The Red S ' j Mill".. Victor Herbert ' f jpf j 2. Evensong E.Martin "'. $ Request. jVTs' s;,.v 3. Song, "I'll Be in My 3 Dixie Home Again JsS - . f ; ' Tomorrow." P" - 1 : i 4. Keates' Contest. m t ' V""""""'"" E. Liberty Grand Chorus NfX 7" - ' t singing old tunes. r'f? 1. SUNDAY - jM -ia l 12:30 . W M VJT. and New York als was reported, 22 inches of snow naving fallen at Portland, Me. SNOW BURIES NEW YORK Icy Gale Threatens to Paralyze Transportation. NEW YORK, Dec. 29. Thousands of volunteer snow handlers were called to the shovels today to help dig New York city out of its first big storm of the season a blizzard of snow and sleet which, starting yesterday under moderate tempera ture, became overnight an icy gale which threatened to paralyze all transportation. The storm took its toll of hun dreds of Injured. From early' last night until daybreak hospital ambu lances were bringing in pedestrians with broken arms, fractured legs or cra,cked skulls, who had fallen on the Ice-covered streets. Most hos pitals were crowded to capacity. Hear 'em yell when horses crash! Hear 'em roar at the mirthquake of laughter, the earthquake of thrills! Even Willie Collier's whirlwind stage success didn't pack the wallop of the picture. MIDNIGHT MATINEE TICKETS SELLING FAST AT THE CHECK ROOM Two persons are reported to have been killed in falls. The wind reached high velocities. Combined with the unaccustomed burden of snow, it worked havoo with above-ground power and tele phone lines, street car transmission cables, roofs of buildings and large trees. . Lives of pedestrians in some sec tions were endangered by falling signs, tumbling chimneys" and smokestacks. Thousands of dollars of damage were believed to have been sustained on Long and Staten islands, where numerous small craft were washed ashore. , Along the waterfront the toll of damaged buildings was reported heavy. Railroads were asked to concen trate on maintaining unimpaired freight service in order that the city, with barely 48 hours' reserve supply of coal on hand at harbor terminals, might not be confronted by an actual fuel famine. Centralia Chamber to Elect. CENTRALIA, .Wash., Dec. ... 29. The Yells of a Mirthquake when those horses hit the hurdles in a whirl . wind steeplechase. Thrills with everv soill! You'll be off T TT Douglas MacLean and Madge Bellamy, Stars Such (Special.) Members of the chamber of commerce next Tuesday will elect a board of nine directors for the coming year., Ballots will be cast at the community house from 12 M. to & P. M. The following candidates have been nominated by a commit tee of the chamber: J. Q. Anderson, Caleb Berg, F. J. Bickf ord, M. B. Coads, Claude Carter, Earl Colson, Reid Conrad, Galen Devore John Dennis, George Ellsbury, Earl Fran cis, Fern Gilbert, Orville Goss, Carl Hampe, George Ingraham, L. W. Jackson, J, C. McNiven, W. J. Mont gomery, J. J. Mullaley, Vance Noel, John Raught, Sam Schuss, A. W. Shawver, Fred Smelser, Albert WANTED CHAIRS TO CANE AND PIANOS TO TONE BY SCHOOL FOB BLIND For Particulars Call MRS. J. F. MYERS, EAST 703. your seat riding n ( ) -IJ- JUL W XL XL W A Panic! A Rip-Roarer! One of the GREAT BIG HITS of the year even bigger than the , sensation Willie Collier made it on the" stage! Yells! Such Thrills! Such Steeplechase Spills! The Gasps of an Earthquake When Sam, who never rode a horse before, is mistaken for a famous equestrian and his girl makes him ride a four-legged thunderbolt over five miles of ditches and sudden death. 0 and ARVIDSON'S "ACE" ORCHESTRA Direct from Chicago premiere coast engagement of one of the foremost "JAZZ BANDS" in the country. . Manhattan Trio Comedy Liberty News Events Smith, W. H. Storey, W. T. Walker, Edward . Witte, John Wood and Henry Yeager. . . Polndexter Is Pallbearer. THE OREGONIAN NEWS BUREAU, Washington, D. C Dec. 29. Senator Miles Poindexter of Washington Men Wanted . FOR SHOPS AND ROUNDHOUSE JUTES Machinists ........ 70c per'honr Boilermakers .. . . .70-7O!2c how Mechanics are nllo wed time and one-halt for time vrorkrd : in excess of eight honrs per any. Strike conditions prevail. APPLY ROOM 312 COUCH BLDG., 109 FOURTH ST, NEAR WASHINGTON 4 PORTLAND - j all the way! O was one of the active pallbearers at the funeral of Hannis Taylor, ex- CAUTION Wrappers of the New Year's Edition of The Morn ing Oregonian issued MONDAY, JAN. 1, J . will bear this label: New Year's Edition feci . was,s? Price will be 5 cents a copy: postage, cents in the United States ind possessions. All other foreign postage will be 12 cents. minister to Spain, which was held here today. 1 1 OREGON HUMANE SOCIETY Investigates all cases of alleged cruelty to animals. Offices, room 153 Courthouse. Phone Main 03 iS From g A. M. to 5 P. M. J The society has full charge of the city pound at its home, 635 Colum bia boulevard. Phone any time. Woodlawn 0764. Dogs for sale. Horse ambulance for sick or dis abled horses. Small animals pain lessly electrocuted when necessary and stray animals cared for. All dead animals, cows, horsta. etc., picked up. ALT, COLDS are bad. Do not neglect them. Treat promptly, vigorously, at once. Take Ayer'i Cherry Pectoral, go yean of launch friendships to recommend R. J. C ifm Ofc, LnrtU. Ksm., V. s. X.