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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Nov. 3, 1907)
THE STJ3TDAY OKEUO'IAy, FOKTLAXD, NOVEMBER 3, 1907. BANK HOLIDAYS TO DECONTINUED Country institutions Ask Gov ernor to Extend Them Un til Times Improve. EXPECT GOLD FROM SOUTH Financiers or Pacific Northwest Will Hold a Conference Today at Se attle to Agree Upon Some Plan for Relief. PROCLAMATION. November 2. 1!07. Whereas, It hap been and is im possible for the banka of Oregon to secure shipments of coin or currency from Eastern financial centfcra. al though large balances are due to the banks of this state from Eastern banks; and . Whereaa. Requests have come to me from the leading bank of the whole state, as well as from different commercial bodies and depositors to make proclamation of a legal holiday from day to day until money can be obtained to handle the largely in creased Industrial and commercial . Interests: and Whereas, I am firmly convinced from Information I have received that our bank were never in better con dition than at this time, and are only in need of moneys which are actual ly due them from correspondent banks to tide aver the present crisis; Now, therefore, I, George E. Cham herlaln, Governor of the State of Oregon, by vjrtue of the authority vested In me. do declare Monday, the 4th day of November, 197. a legaV holiday, for the purpose of assisting In tiding over the present financial stringency and protecting the credit of the state until coin or currency, now due and owing our people, can be obtained: and I do declare it my pur pose to continue to declare such holi days from day to day until buslnera conditions appear to me to be normal. In testimony whereof I have here unto subscribed my name and caused the mat seal of the State of Ore-, gun to be affixed at the Capitol, in the City of Salem, this 2d day of November, A. D. ItHt". GEOPQE E. CHAMBERLAIN, Governor. By the Governor. FRANK BENSON. Secretary of State. Bankers of the Pacific Northwest will hold a conference at Seattle today to dis cuss the financial outlook in this territory. The four chief cities of Oregon and Washington, Portland, Seattle, Tacoma and Spokane, will be represented. Seattle was chosen as Deing the most convenient place for all to gather. W. M. Ladd, senior member of Ladd & Tilton. and William Mackintosh, general manager of the Northern branches of the Bank of California, will represent the Portland Clearing-House Association. Tha bank holiday, declared last Tuesday morning by Governor Chamberlain, will be continued tomorrow and will be ex tended from day to day as may be neces sary. California acts with Oregon in this. In Washington, there is a statute which affords fuller protection to banks than the Oregon law. making a legal holiday there possibly unnecessary. ' For this rea son it is likely that while Oregon and California are taking advantage of bank holidays, it " may not be necessary for' Washington further to have .recourse to this expedient. However, this matter will be threshed out at the meeting today in Seattle. How the bankers of the two states will pro ceed, and what is the best solution of present difficulties, will probably be re solved on at this session. Unanimity of action is for the best interests of the banks and their depositors and that all wllVact as a unit, after the proper course is determined upon, is assured. Draw Thinds From' San Francisco. Meanwhile efforts are being made to se cure specie from San Francisco, but as yet definite arrangements have not been made, although negotiations are still !n progress looking to that end. A favorable conclusion of the negotiations is looked for at any time. It is said by bankers that If Jl.000.0fl0 in specie can be secured from the Sub-Treasury at San Francisco, there will then be a pronounced feeling of ease and the situation will improve promptly. It is -believed that the same reasons for Government assistance in the East exist here, and that undoubtedly the Government funds at the Bay City will he used along the Pacific Coast for the assistance of banks in this territory. Yesterday, the first Saturday in the month, was a busy day at the local banks, but there were no indications of uneasi ness on the part of depositors and nothing even remotely resembling a run was started. Everyone at all familiar with the situation pronounces the Portland banks In excellent condition and advisee strongly against taking money out of bank and hiding it away, when if left in bank, it will be not only safe, but a source of strength to the city. That this advice is heing heeded. wlfr ever given to occasional doubters, is shown by the long lines of depositors in front of the receiving windows at the Portland banks and the much shorter file of patrons at the paying wickets". Many who withdrew money from local banks when the first ' clouds appeared in the financial sky are showing their confidence in Portland's banking strength by replac ing their money in the banks. Approve Bank Holidays. Two meetings of the Portland Clearing Housa Association were held yesterday. At the first session the matter of a con tinuation of a bank holiday over tomorrow was formally approved and plans made for the Seattle conference today. At the meeting, later In the day, delegates were named to the Seattle gathering, and the committee reported progress in the nego tiations for money from the Subtreasury at San Francleso. The appeal for the continuation of the bank holiday came to the Governor yes terday at his Portland office direct from country banks, hich find this course necessary to protect thcmpe'.ves. Governor Chamberlain complied with their request to proclaim a bank holiday on Monday, and agreed to continue the holiday period from day to day as occasion requires. In giving his reason for this act Governor Chamberlain said: 'Application has been made to mo to taJte this action by nearly all the banks in this state, and from many commercial bodies. as well as by many large deposi tors. The bank holiday will be continued from day to day until conditions change." The Clearing-House Association Is considering the plan of issuing bank checks of small denominations to sup- ply the temporary lack of currency, much after the plan followed In Pitts burg, where It appears -to result bene ficially. Details hAve not yet been per fected, and it may not be put into prac tice. In a general way the plan is to issue notes guaranteed either by the banks, as cashiers' checks, or by the clearing-house, for the convenience of the public. This money maf be used in paying wages and In every other way will pass as currency.. A . rumor was circulated on the streets yesterday that the Ladd inter ests had retired from the Title Guar antee & Trust Company and that this institution would not open its doors when the bank holiday ended. This has been proved false. TV. M. Ladd him self said: "I own 477 shares of the capital stock of the Title Guarantee & Trust Company, which I have held more thaii 15 years and which is all I ever owned. Ladd & Tilton own 278 shares, which were taken many years ago in a settle ment, with a debtor. The capital stock of the company is 2500 shares. I re tired from the presidency of the In stitution about a year and a half ago and from the ' directory the first day of last July." This would seem to show that Ladd & Tilton will stand firmly behind the Title Guarantee & Trust Company should there any occasion arise when that institution needs outside help, which is only a remote possibil ity. J. Thorburn Ross, the president, said yesterday that the report hia bank will not open again is Idle and thoughtless. He says the bank will be open for business just as soon as the bank holiday is over so there will be no question of the legality of business transacted by his ln;tutlon. Statement From Mr. Ross. PORTLAND. Nov. 2. -(To the Editors Today a reporter from The Evening Tele gram called upon me and asked questions of as nearly as I can recall the following Import: "Has there been any change recently in your stockholders of the company?" to which I replied that there had not. , "Will your bank open Monday morn ing?" to which I replied that we would not open so long as the Governor con tinued the holiday. I must have been misunderstood as to other statements credited to me. 1 made no crlltclsm of the Clearing House. Nor did I say the Ladd interests hold a controlling interest In this bank. In fact, they do not. Nor did I speak of any support from the Ladds. Mr. William M. Ladd retired from the presidency of this institution July 1, 1306. J. THORBURN ROSS. "PANICS AND THEIR CURE" Rev. J. Whiteomb Brougher Will Preach on Financial Situation. Dr. J. Whiteomb Brougher, pastor of the White Temple, will preach this morning on the subject of "Panics and Their Cure." He proposes to discuss the financial crisis the whole country Is now facing, and especially to deal with the problem that the Portland banks have to face. He believes that the solution of the whole matter lies' largely with the people and says that lie has confidence In the good sense end sober judgment of Portland people. Dr. Brougher had a long interview to day with a prominent member of the clearing-house committee and is pre pared to speak with authority concern ing tho situation. His sermon ought to prove of great Interest to everyone at the present time. In commenting on the subject yes terday Dr. Brougher said: "Let the people keep their heads, go ahead and transact" their business as if nothing had happened, draw ' just as little money out of the banks as possible, only enough to meet the Immediate de mands of living and It will not be long before we are all right again." BANKERS TO MEET IX SEATTLE Delegation of Six Financiers vLeft Spokane Last Night. - SPOKANE. Wash.. Nov. 2. (Special.) Six members of the Spokane Clear-Ing-House Association left tonight for Seattle, where they will attend a meet ing of the representatives of the clearing-houses in Seattle, Portland, Taco ma and Spokane tomorrow afternoon. The meeting is to devise some plan to relieve the financial situation In the Northwest. Commencing Monday, banks will cash checks with clearing-house certificate!" instead of cashiers' checks, which were used several days this week, and which were not wholly satisfactory. The latter will be recalled. The six who left are J. P. M. Rich ards, president of the Spokane & East ern Trust Company; W. D. Vincent, cashier of the Old National Bank and president of the Washington State Bankers' Association: Aaron Kuhn, president of the Traders' National Bank; Sam Galland, of the Northwest Loan & Trust Company; T. H. Brewer, vice-president of the Fidelity Bank, and E. T. Coman, vice-president of the Exchange National Bank. THUGS INVADE THE- CITY Grave Situation Appears to Confront Police Department. The influx of criminals into this city during the past few days has been so great that the police department seems utterly unable to cope with crime, and robberies and holdups threaten to be come of nightly occurrence. Last night two robberies, in addition to two holdups reported soon after dark, were commit ted, making a total of four for the day. So far the police have been able' to get no clew to- the perpetrators of the dif ferent crimes. At 11 o'clock last night a grocery store at Eleventh and Glisan streets was held up and the proprietor robbed of til in cash, after which the robbers fled down Glisan street. Captain- of Detectives Bruin, to whom the robbery was report ed, ordered his men to give out nothing concerning the matter. A little later a second-hand dealer on North Third street was held up In the doorway of his establishment, but before the highwaymen could get anything, ap proaching ' pedestrians frightened them away. The matter was reported to the secret aarvice branch of the police de partment PERSONALMENTION. - Mrs. Kate J. Y. Misner announces the engagement of her daughter. Miss Maybelle Young, to T. Oren Watson, of Seattle, the wedding to take place No vember 10 at Kohlotus, Wash. Hon. J. H. Fletcher, now of St. John, has just returned from .a three months' trip to the Far East. He visited most of the Eastern states and Canada and even spent much of his tfme on Prince Edward Island, where he was born, and which he had not seen for 24 years. The people of that island In sisted on his taking the lecture plat form and during his stay there deliv ered 19 lectures on social questions, which were largely attended, and which have been spoken of in th most glowing terms by the press of that country. After each lecture Mr. Fletcher was besieged with questions regarding Oregon as a field for immi gration, which he cheerfully answered. Eyes fitted to glasses. tl. at Metzgers. Eat Government-Inspected meat. LARGE INTERESTS FEEL NO ALARM- (Continued from Page 1.) The properties I represent were never in a more prosperous condition than now, but the shortage of crsh in the banks throughout the United States will cause, us to be careful of our expenditures until that" condition is relieved. We will pay out about $150,000 on account of employes' payrolls in this community between now and November 10, which should go a long way towards relieving the local situation. The banks are as sound as ever, and it is the duty of every citizen who has the wel fare of the community at heart to assist them In every way possible In meeting the situation until actual cash can be received by the banks from their Eastern depos itories. Crops Bountiful, Prices High. , T. B. Wilcox, president Portland Flour ing Mills Company No possible harm can come to the Northwest from the present situation. Every man who has money in the bank should leave it there, and others having funds should deposit them in the banks to assist in relieving the situation locally until the situation in the East can be relieved and the funds on deposit there by the' Portland banks, can be received here. Fully 974 per cent of the business of the country Is conducted by check, the other 2H per cent requiring money, and for that reason there is no reason why normal business conditions should not be continued temporarily -until the money owned and belonging to the local banks can be restored to them. Aside from the Southern states, with their enormous yield of cotton, no other section of the country l$ capable of recovering from these dis turbed conditions more quickly than the Pacific Northwest, which is experiencing the most bountiful crops in its history. Not only are the crops heavy, but the market price Is high. Conditions are de cidedly different from those in 1S33, when wheat sold for 35 cents a bushel. In addi tion to crops that ha -e been marketed al ready In the Northwest, there is fully $30, 000.000 worth of wheat unsold, and If some arrangement can be made either with London or through foreign representatives in New York by which even $5,000,000 of that amount can be obtained, there win be abundant funds for removing all suspi cion of distrust and restore the business of this section to its normal state. With such assistance the transaction . of all business could be proceeded with in the same manner as before New York ever heard of a panic, but In the meantime there Is absolutely no cause for alarm in the Northwest. Disturbance Only Temporary. Henry Hahn, president Wadharr.s & Company I regard the present disturb ance only temporary. The general con dition of the Pacific Northwest is in as good shape as it ever was. I feel that as soon as the stringency caused by the New York money market has passed, that the local situation will be restored to its former condition. Our banks seem to be in good shape, except for the temporary stringency in actual money which has saddled an unnecessary burden upon them. I consider that the action taken by them has been one intended merely to conserve their cash balances until the exchange market gets in normal condi tion again. Few Days Should End Trouble. F. W. Watson, vice-president Pacific Coast Construction Company Although during the last few days we have been obliged to discharge about 1500 laborers because of the suspension of improvement work by the Harrlman lines and for which we held several contracts, I con sider that the present situation is only temporary. I have no doubt but that the disturbed financial conditions will be solved satisfactorily in a few days when I expect all pending railroad improve ments will be resumed and other pro jected railroad construction proceeded with throughout the Northwest. The general progress and the" phenomenal prosperity of the Northwest cannot be re tarded or affected seriously by the exist ing disturbed conditions. Banks in Healthy Condition. I. N. Fleischner, of Fleischner, Mayer & Company I fail to see that the present state of affairs should cause any alarm among the people of the Northwest. Our banks are all in a healthy condition and backed up as they are by the unpreced ented prosperity of this section their sta bility is unassailable. Depositors should feel no concern for their money under these conditions and should leave their money In the banks and aid materially in preventing a more complicated state of affairs. (- Xo Possible Ground for Anxiety. W. D. Wheelrlght, president Pacific Export Lumber Company On my re turn from New York this morning I was glad to find money matters here in, such good shape and a cheerful tone pervading the . business community, which seems to have realized that tho tie-up of funds Is only temporary and due entirely to the fact that the Eastern banks are unable for the, moment to re mit bank bills or coin in settlement of their obligations to our local insti tutions. This fact (of their inability to pay out all their deposits on de mand) did not cause any alarm in New York, Chicago or Minneapolis, In all of which cities I discussed matters with business friends. Everybody realizes that there is no banking institution in existence that can respond If called upon to pay all claims at once. The Bank of England Is the greatest tow er of financial strength in the world and keeps in actual coin a larger per centage of its liabilities than any other bank that" I know of; the National City Bank of New York has for many years been noted for following the same pol icy, and 20 years ago it was a current saying In New York that no bank could make any money Uiat kept such a large proportion of ItsTleposlts In Its vaults Instead of putting it out at interest. And yet neither the Bank of England, in London, nor the National City Bank, in New York, could pay Its obligations If all of l,ts depositors descended upon it at once. . The general publio ought to understand, these facts and appre ciate, the situation, as they have every reason to feel sure that their funds, now In the hands of the Portland banks, are as safe as they would be In either of the two great Institutions that I have mentioned, even though the Port land banks may temporarily find them selves in the same position that the city banks now occupy, viz., a situa tion where Nit is necessary to refuse cash in exchange for checks. If there is a single spot on the face of the earth where conditions are healthy and where no one need be afraid of losing his money, it is the City of Portland on this second day of November, 1907. It is safe to say that the values of property have doubled in the last few years; the prices of all the produces of the earth are high and crops are unusually large; all kinds 'of commer cial and manufacturing business have been more profitable during the last two or three years than ever before, and "there Is no possible ground for anxiety on the part of anyone as to his financial future, unless the whole community should unite in making de mands on . our financial institutions such as no bank or trust company In the world, under any circumstances whatever, would be able to nieet. Money Safest in Banks. , F. W. Leadbetter I think the American people as a class are noted for their ability to adapt fciemselves to any kind of circumstances. Even the most casual observer knows there Is just as much money today as yesterday. If the people of the community would, as a unit, de posit all their, money immediately In the banks, where it would be safe, in two days the stringency would be over, so far as Portland Is concerned. In no other city of the United States, probably, are the banking interests In the hands of, people who have such Immense resources back of them as right here In Portland, this being an old community where the financial accumulations for a period of 50 years are naturally heavy. Anyone can see that money is safer in Portland banks, with Interests behind them running well into the millions, than in safety de posit vaults, which are in danger of being broken open and rifled, or stored away in stockings, or carried about, for with a large' number of unemployed in the city, holdups and robberies are of almost nightly occurrence. The present strin gency was caused by the speculation In Wall Street, in which the Pacific North west had no part whatever. While the conditions there may be bad for some time, they will be all right here in a very short time if people will only put the money where It will circulate and do some good. Due to Inevitable Law. .Judge George H. Williams I have been sonsulted by several people as to whether or not I thought it advis able for them to withdraw their money from the banks; as the proclamation of several holidays by the Governor has created some apprehejislon and some people are suspicious that some thing is wrong of which they are ig norant. I have advised everyone not to withdraw money and told them I believe our banks are solid and safe and the best way to put an end to this disturbance in the financial world is to show their faith and confidence In the banking institutions and allow their money to remain there instead of hoarding it up and thereby taking it out of circulation. I am not much sur prised at the financial condition as I do not believe I am pessimistic, but 1 have been for some time anticipating and predicting that something like that which has happened would follow from the inflated credit system of the coun try. These seasons of undue expan sion and Inflation in the monetary world are followed by what seems to me an Inevitable law by a revolution or something in the nature of the ex plosion of a bubble. The fact is that extravagance and reckless speculation and the get-rlck-qulck spirit has pos sessed the country for some time. This present condition has come as anyone acquainted with the history of the country rright have foreseen, and might as welt come at this time as at any other, and perhaps the country Is, In better condition for such a change than it ever has been or wile be in future. I do not know how serious -this flnan- ; cial cataclysm may be; but I am hope ful it will pass over without any se rious results to the country. Senator Sprague once said in the United States Senate in my presence: "There Is noth ing so sensitive as $1,000,000, except $2,000,000." All experience shows there is nothing so sensitive and so subject to change from apparently trifling causes as the monetary system of the country, and the present financial troubles, if they continue, will not so much grow out of lack of money as a lack of confidence. I have no idea that the distress of the country will equal that of 1893 and the present time has greater facilities for bringing business back to a healthful state than were in existence In 1893 and following years. 'I think and hope that if the people of the country be patient and the men who are managing the financial affairs will be careful and conservative, it will not be long before the finances of the country will be In a healthy condition and business will be safer and more re liable than it has during the season of alleged excitement In the financial world. y Only Retards Collections. Donald Mackay, president North Pa cific Lumber Company There Is nothing alarming about the situation. During this temporary stringency of the money mar ket collections will be delayed somewhat, but I am confident the situation will be remedied soon. When the banks in the "Northwest receive the money that is due them ' from the Eastern banks business conditions will become normal again. Wheat Exporter's Views. Walter J. Burns, resident partner of Bal four, Guthrie & Co.. grain exporters and importers I have every confidence in the situation and believe it will work out all right along the lines arranged by the banks. People Entitled to Truth. William Mackenzie, financial representa tive of Balfour, Guthrie & Co. I think it Is an excellent Idea to Inform the people at large as thoroughly as possible through your paper of the conditions In the East which have forced upon Portland the ex- . lsting stringency In money. If these con-4 dltions are not brought within the easy comprehension of every one who Is not al ready In elope touch with them, the task of bankers and others who are striving to get back to normal methods of doing business will be all the harder. The large volume of business In the state at this season dependent upon i ortlan- banks for its proper conduct is interrupted in its natural flow by the refusal of the larger money centers, .under stress of their own need of money, to perform their custom ary share of this business. In their with holding for -.eir own purposes remit tances Tf coin In return for produce and other subjects' of trade, the Portland banks are forced to conserve their own re sources, always' Insufficient for the volume of trade at this season ofthe year. Every dollar drawn from the banks now reduces the ability of the bankers to cope with the situation and strikes at the value of every form of property In the state. That the banks are sound and solvent is beyond question. They have been sharing In the continued prosperity of the country for a long time, and they, too, have prospered correspondingly with other forms of busi ness. There Is no occasion for unrest or doubt about the condition of the banks. The methods adopted by them are justi fiable and necessary. When the present difficult situation is relieved by the res toration of coin exchange, which should soon be In sight. It will be seen the bank ers of Portland are equal to their respon sibilities. Meantime, what- is needed is that the public shall not hamper them by unnecessary withdrawals of money. It is pretty clear from the manner In which the banks have been releasing money for a day or two that as their own ease in creases they will not be unmindful of the necessary requirements of their custom era . GRANGERS DISCUSS . FINANCE Say Government Printing Presses Could Soon End Stringency. The financial situation was the topic under discussion yesterday afternoon by the members of Eventng Star Grange, Patrons of Husbandry, at the hall on Section Line road, with J.' D. Lee in charge. A variety of opinions was brought out. Some favored estab lishment of postal savings banks throughout the country. One speaker declared that the present financial situation was purely artificial and brought on by the money kings and by extravagant living. Mr. Lee said, in opening the discussion, that the sub ject was pertinent, and anything said that would calm the apprehensions of the people was oportune. ' R. C. Wright delivered a thoughtful and deliberate talk. He reviewed what he contended were tho causes that had produced the present finan cial conditions. Ho contended that the panic was artificial and had been manufactured for the occasion. Infla tion of he value of securities had been one of the causes, he said. Stocks worth $10) had been boosted to $2)0. Money had been drawn from the West enticed rather by the high rate of Interest. These causes led to shortage of ready cash in Portland's and other banks of the country. In face of the great prosperity everywhere. He urged that the situation should be met with calmness. A. F. Nichols spoke for a postal savings bank system as tTie remedy. "Uncle Sam," tie declared, "would be back of these savings banks and there never would bo a run. The financial system of the country would then be in the control of the people. Gold could not be cornered by combinations of capitalists, and the money savings of the people would be absolutely safe. Nobody would question the solvency of Uncle Sam." Mr. Nichols declared that he had for many years thought that the postal savings bank was the system for this cjuntvy. ' and he believed that the country Is coming to it. J. J. Johnson contributed to the financial problem, explaining some of the causes which led un to the present 'situation, and the workings of the clearing-house system. "The clearing-house plan now In operation In Portland and elsewhere," said Mr. Johnson, "is simply for the protection of the people and the banks. Everyone knows, or ought to know, that no bank could stand if all its de positors lined up and wanted their cash at the same time. It would go down. The depositors would lose their money and the bank would go broke. Now the situation is plain. "We are not now so much con cerned with the causes of the present situation as we are with the remedy. The man in jail wants to know how to get out. He will then try to keep out of Jail. The present situation calls for the exercise of calmness. The banks are perfectly safe. Depositors are sure to get their money. If they don't lose their heads. The banking system of the country is an Intricate problem. The postal savings bank is open to ob jections. If the Government undertobk to do the banking of the country" it would have to employ agents and lend your money very much the same as the banks do now, and would not be able to pay every cent at the same time any more than the banks as now con ducted. ' "Let me urge those who have money on deposit in Portland banks to do what they can to support these insti tutions. They are safe if given time to get in their cash from the East and elsewhere. If we all rush In and de mand our money we will lose It and the hanks will close. That Is the Catarrh of The Stomach A Most Dangerous Disease, Which . Causes Serious Results, Unless Properly Treated. Catarrh of the Stomach Is very com mon and is known as one of the most obstinate diseases, which, when neg lected or Improperly treated with cheap patent medicines, tonics, drugs, pills, and other secret quack remedies, re sults in a broken down constitution and often consumption and death. Catarrh of the Stomach, like every other disease of the stomach, except cancer, is th6 result of poor digestion. The digestive organs have become weak, ther is a lack of gastric Juice, your food is only half digested, and as a result you become affected with loss of appetite, pressure and .fullness after eating, heartburn, vomiting, water brash, tenderness at pit of stomach, slimy tongue, bad taste in the mouth, constipation, pain in limbs and face, sleeplessness, nausea, belching of gas, diarrhoea, sick headaches, dizziness, mental depression, nervous weakness, and many other common symptoms. If your stomach cannot digest the food you eat, then the stomach needs? a rest, as that is the only way you can get rid of your catarrh, but in the meantime your body needs plenty of nourishment, because you must live and In order to live you must eat, and if you must eat, your food must be prop erly digested, and if your stomach is too weak to do the work, then you must get a substitute that will do the work. Stuart's Dyspepsia Tablets are the only known substitute that will digest your food' as well as any healthy stom ach. They contain vegetable and fruit essences, aseptic pepsin (gov. test), golden seal and diastase, the very ele ments necessary to digest all foods. Stuart's Dyspepsia Tablets are not a secret remedy and for that very reason thousands of physicians all over the United States recommend them to their patients for catarrh of the stomach, dyspepsia of all kinds, and othef stom ach troubles. - Experiments and tests have proven that one grain of the active principle contained In these tab lets will digest 3000 grains of food. Stuart's Dyspepsia Tablets are in the form of pleasant tasting tablets or lozenges and are sold In large fifty cent boxes at all drugstores. Send us your name and address and we will send you a free sample pack age. The relief you will get from this trial package alone will convince you of the merits of Stuart's Dyspepsia Tabletr. Address F. A. Stuart Co., 150 Stuart Bids., Marshall, Mich. Sbtit your eyes I Then plunge Tbe way some men buy clothe TRUST TO LUCK. If yon are going to btfy ordinary clothes you might just as well do that. But go to your Kaufman dealer and let him show you a Kaufman " "Pre-Shrunk" Garment either suit or overcoat Yon don't have to just "trust to luck" or speculate ot hope tot the best 'blindly." Kaufman "Pre-Shrunk" Garments BECAUSE It's a live moral cer tainty that any Kaufman "Pre Shrunk" Garment will give you longest lasting value-and service. staytng style from shape perma nence It' all in " Pre-Shrinking" VtM practical way of the Kaufman "Pre Shrinking" Process, which no one but the Kaufmans can use. because this perfected "Pre-Shrinking" Process is exclusively for Kaufman. Tr.-idc-Mnrk V MaasJCanfinan 4 Bras. J INVEST YOUR SAVINGS In Hlgh-Gr.ide Real Estate ORTGAGE LOANS Which Will Net Tou From 5 to 7 Per Cent Net and Afford Tou Abso lute Security. FRANK A. ROWE, Mortgage Broker Phone A 3478. 613 Buchanan Bid. situation in a nutshell. Let us be calm ami all will be well, and the country and its industries will go on as they have in the past." , A. F Miller asked If money was so short why the Government could not start Its printing presses and turn out all that was needed, a thousand or so for everyone. C. H. Welch, of Mount Tabor, answered that he had received information from his son-in-law, who is in the printing office at Washington, that the Government had secured some new and very fast printing presses and could turn out money enough to supply the country In a few days. He felt that the money stringency would soon be relieved as soon as these fast presses were once in running order. The old presses were too slow, and hence all this trouble. The editor of the Mount Scott News declared that the National banking sys tem was saddled on the necks of the American people years ago by an Eng lishman; that lie was paid $.".00,000 for - t v 1 THE PORTLAND MAKERS OF 54 Third, Corner of Pine PREPARING BANKRUPT 1 T V, ft 1 S4O,OO0TB Vii6 ENTIRE BLOCK ON YAMHILL FROH 2ND TO SRD. for the greatest and most desperate SLAUGHTER SALE that has taken place since the great panic of 1892. Watch Tuesday and Wednesday Papers for Full Particulars. On Taking' a Dive in Clothes The" Style Secret." ot the Kaufman "Pre-Shrinking" Process Is that it properly takes all the shrink out of their cloth before it is cut. which preveats the garment bagging anywhere doesjiway with puckering seams and kangbaclt- collars gives Kaufman Garments style perma nence which no othei1 clothes of rea sonable price caa have, because, other clothes immediately 'show the style damaging effects of rain, perspiration and changeable weather Now you can prove this for your self EASILY Simply go to a Kauf man Dealer and he will show you the fullest assortment of the season's fash ionable styles In Kaufman Garments suits and overcoats. You will be Impressed with the style of each gar ment bearing tho Kaufman "Guar antee Label. That's oar Guarantee and your Deal er's that yon git- the longest lasting value and style pertna n encc if you wear Kaufman 'Pre-Shrmnt" Garments. Why wear bipher-priced clothes when Kaufman "Pre Shrunk" Garments giveou this? Oar Prices range from $ 12 to S30. Most people caa be suited in KaaJ maa rVe-Sbrnnk Garments $15 to $18- Ask Kaufman Dealers for the new Kaufman Fall and Winter Style Book. Handsomely illustrated Most inter esting to read on "Pre-SkrunM" advan tages. Or, write Chat. Kaufman Of Bros.. Chicago. Just write. No stamps necessary. the job and that It ought to be throwti overboard. There were about 150 present at the meetlnsr. JEANETTE'S RICH CARGO Brings 'Whalebone and Valuable Furs From Arctic. SAN FRANCISCO. Nov. 2. -The whaling steamer Jeanette, Captain Hoffman, ar rived yesterday from the Arctic with a valuable catch for the owners. In addi tion to 11.000 pounds of whalebone, the Jeanette brouffht a lot of valuable furs, including ISO fox skins and seven bear skins. Among the skins was one of the black fox, a species that is rapidly dis appearing. This particular skin is said to be worth $1000. Five whales were killed during the cruise. When You Travel With Bags and Suitcases, why not have the latest in style and workman ship? ' They cost no more when you buy from the maker IOOO to Select From Two Stores 3 A -4 TRUNK MFG. CO. HIGH-QUALITY BAGGAGE 107 Sixth, Near Stark ryGoods,Etc. THE ENTIRE STOCK OF c;