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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Nov. 10, 1907)
THE SUNDAY OREGOXIAX, PORTLAND. NOVEMBER IP, 19Q7. MERCHANTS TAKE HUMOR IN SCARE WHEN YOU SEE IT IN OUR AD IT'S SO 13 OPTIMISTIC WW Business Little Affected by the Stringency in Money Market. PEOPLE , BUY THE BEST Show N'o Disposition to Curtail Ex penditures Through Fear of a Panic Clearing-House Cer tificates Help Retail Trade. The tiRht money market and accom panying financial anxiety of the past two weeks seem to have had but little effect on Portland's wholesale and retail trade. Proof of this fact, the best to be had. was the usual large crowd of Saturday shop tiers on the streets last nlnht, the packed houses at the vaudeville theaters and the representative audiences at the big thea ters and at the Horse Show. Portland people have money and are spending it. Some, of course, are required to depend on the clearing-h 'use certlfl Vcates as a medium of exchange, but as this paper is readily accepted by all busi ness houses, no Inconvenience has been experienced by the public at large. Nearly every one looks upon the certificate plan as merely a temporary makeshift, and for that reason trade conditions are even bet ter than during the prosperous holiday shopping season of 1906. In nearly every quarter the belief is that the financial stringency will soon be relieved and that business on a cash basis will shortly be resumed and the rumors of "hard times" effectually pet at rest. Weather Injures Trade. In the furnishing goods line dealers seem to think that the prevailing clear, warm weather has a great deal more to do with the slight falling off in trade than has the tight money market, and all engaged in this line are looking for a big rush as soon as bad weather comes. Clothiers and furnishing goods merchants say that whenever balmy . weather comes late in the Fall and early Winter a material falling oft in sales is experienced for the very good reason that the Winter needs of customers are not brought to mind. Last night the department stores, fur nishing goods stores and other business houses were crowded to the doors with Saturday shoppers, proving that Portland p?ople are not disturbed over the prevail ing situation. The only norfreable effect of the money stringency on trade has been a slight falling off In sales of lux uries, and business in this line is ex pected to resume its normal proportions by tills time next week, for by then tje public In general will have become accus tomed to the clearing-house certificate plan and the financial situation will. It is hoped, be much easier. Following are a few statements from representative business men regarding the trade, situation: Ben Selling, of Ben Selling & Co. Our business during the past week has been remarkable for the large increase of sales over the same period of last year. In this crisis every business man should tell the truth, and when I say tliat the finan cial flurry has not hurt my business in the least I wish the public to feel assured that this is absolutely so. Were it not for the fine weather we have experienced during the past few days I sincerely be lieve our sales would have been greatly Increased. A week ago today, as I have announced through the press, our sales showed a remarkable increase over the same date In 1906 and I think that to day sales will go even better than those of last Saturday. We are accepting the clearing-house certificates as cash and will continue to do so. They have proved r most welcome medium of exchange. I have confidence In the situation and have placed orders for Spring goods with New York firms the same as heretofore. Astonished by Increase. W. W. Robinson, of Robinson & Com pany I have the utmost confidence in the business situation, which to my mind is as good as ever. I know that in spite of adverse conditions, my business has in creased to a greater extent than I had be lieved possible at the commencement of ' the year. In this statement I do not in trude reference to the clothing department, which I have Just put In, but confine it to furnishing goods which I have always carried. The clearing-house certificates are as good as cash and I shall accept them at par during the time they are In circulation, "which I do not think will be very long. All these rumors of failures and the like are uncalled for and the ' petty gossips should remain silent on such subjects unless they can back their state ments up with facts. Business has fallen off a trifle in the last few days, but ti.is I attribute more than anything else to tne , line weather we have had. People have not felt any great need of winter cloth- , ing, but when they do I expect as good a business in that line as ever before. Scrip Proves Its Worth. J. Shemanski. of the Eastern Outfit ting ' Company The clearing-house certificates neve proved their worth, for since they have been Issued our -business has picked up wonderfully. Our sales nearly doubled Thursday, Friday and today over those of Monday, Tuesday and Wednesday. On the whole, we are' very well satisfied with conditions existing today, and do not expect the present financial stringency to last much longer. At any rate, we hove no doubts as to the stabllty of the city, for our business has increased satisfactorily and we have no cause for alarm. Hot Shut for Knockers. J. M. Acheson, of the J. M. Acheson Company Business has been fuirly good under the circumstances, and I expect It to be much better when people become accustomed to the clearing-house certificates; also when gossips cease bandying about silly ru mors of failures and receiverships. I mention this latter feature particu larly, because rimors have reached my cars that this firm lias failed, which is absolutely untrue and Is merely the idle gossip of "knockers" who are not satisfied unless they are making trouble. While business lias fallen off slightly, there Is really no reason to doubt the stability of the market, and jthlngs will right themselves In the near future. I do not believe there Is the slightest cause for alarm. Taking everything Into consideration, we are well satisfied with conditions as they exist. Mail Orders Larger. John P. Flagemann. manager H. ,lebes & Co. Our local ' business has not declined in the least since the money stringency set In, and as for out-of-town orders they are Increas ing -right along. We have orders on hnnd from various parts of Oregon. Washington. Iduho and Montana to such an extent that we are not'Jnclined to bother about the stringency so lung as the people have the clearing house certificates. "vV'e will continue to accept this paper the same as cash. "Word from our San Francisco branch is that the business there is flourish ing. People Buying as Usual. A. Welch Business has been very good today, and we noticed only a slight falling off during the previous days of the week. The clearing-house certificate plan seems to meet all re quirements, and we are accepting the paper as cash. W'e have no reason to believe that there is anf- great finan cial distress, for business is good, and while there Is a good demand for cloth ing and furnishing goods we need have no fears for the future. Taking every thing into consideration, the people of Portland have acted very wisely. Notice an Increase. George E. Walker, of Roberts Bros. We find that business is very good. During the past two weeks we have noticed a most encouraging Increase over the same period last year. The only objection we have to the clearing house certificates is that occasionally we have difficulty In explaining the reasons for the use of this form of currency. On the whole, we are very well satisfied with conditions. , People Buying the Best. R. M. Gray, of R. M. Gray & Co. The clearing-house certificates. I be lieve, have been of inestimable benefit to business in general, for they have relieved the situation where lack of ready cash might have worked con siderable harm. We have not re ceived as many of these certificates at I had expected, for many of our pat rons have made use of their personal checks. Business Is much improved over last year and in spite of the finan cial flurry, our customers have been buying freely of the very best goods. This is very gratifying to me, for at the commencement of the bank holi days I was somewhat frightened. Now matters have adjusted themselves and there is no cause for alarm. Customers Are Satisfied. A. B. Stelnbach, of A. B. Steinbach & Co. Our business has not suffered in the least: in fact, we have noticed a most flattering increase over our trade of this month last year. We are ac cepting clearing-house certificates at par and are experiencing lfb trouble with them. Our customers do not com plain and seem satisfied with the finan cial situation. As soon as gold begins to come from the ' East in quantities 1 believe the situation will rapidly be come normal. Blames Fine Weather. F. G. Buffum, of BufTum & Pendle ton We are taking all the clearing house certificates offered us and ex pect to continue to do so as long as It is necessary. I do not think present conditions will last more than a week or so and I am well pleased with the way people have accepted them. Busi ness has been very satisfactory and our receipts fr the past week would probably have been much greater had It not been for the fine, weather pre vailing. ' I am inclined to think that the weather has had more effect on our sales than has the financial situation. Help Retail Business. Louis Rosenblatt, of S. Rosenblatt & Co. I think the clearing-house cer tificates have materially helped re tall business. Compared with last year our sales have shown a most flattering increase. We are extremely well sat isfied with the situation and do not be lieve that the money scarcity will last much longer. Sad Story of a Brave Little Mouse. Little Creature. Forced From Pa ternal Home, Has Brief Career in Big. Heartless World. IT was a wise little city mouse that essayed the traffic at Fifth and Morrison streets yesterday, having been chased from his former home by workmen on the new Corbett building, who drove him, fleeing, from his pater nal cellar. With tall erect and cour age shown In every movement, the brave little mouse started to cut diag onally across Morrison street right in the busiest hour of the afternoon, when the crossing hummed with the passing of streetcars, wagons and the hurrying of feet of pedestrians. He had a hundred enemies and no way of defense against any of them. Facing a hundred perils, he Jauntily scurried over the asphalt, dodged be tween hurrying legs, and was well started in running his perilous gauntlet before anyone noticed him. Then the big policeman swung his stick at the furry, shining little rodent. He didn't mind that. Hut dodged into the1 groove of a streetcar track. The motorman on an approaching car clanged his bell and by sheer good fortune for the mouse could not have known the warning was for him he left the friendly shelter of the groove and the car passed over without an other victim to its score. Then he was well Into the line of shoppers passing from curb to curb, and the display of hosiery rivaled that of a nearby department store window. Men standing on the sidewalk had their attention drawn temporarily from the mouse and the little furry fellow had a fighting chance to win his way to safety. But there came along a big, hulking fellow, who, with an ugly grin, swung his umbrella on the defenseless little city mouse and struck him right across the bridge of his keen little nose. This bowled him over. The blow stunned him, and he lay there, quivering. But he was not going to give up the fight yet. He would wait till he got breath and the stars stopped dancing in front of his eyes, and then he would scurry off. But the best-laid plans of this little mouse were doomed to failure, for as he lay there, gathering breath, a careless fel low, with his hands In his pockets and his eyes fixed on vacancy, thinking of his money in the bank or some other problem, stepped on the mouse and passed on, not knowing he had left him there, quivering, with his tiny feet in the air and his eyes closed. Then the end came quickly to the wise little city mouse. A big teamster, driving a pair of bays, was passing that way and one of the wide tires of his truck came mercifully to the very spot where the little, animal lay. In a moment there was only a dark spot on the asphalt where the mouse had been. SPECIAL ANNOUNCEMENT On page 2, section 3, this Issue, will be found a special announcement from the well-known dry goods firm of Mc Allen & McDonnell. Women who ap preciate good goods will do well to at tend this great special sale. Every de partment throughout the store offers its quota of bargains. Women's and children's ready-to-wear apparel, hos iery, corsets, waists, dress goods, un derwear, silks, table linens, blankets, curtains, gloves, umbrellas. leather goods, etc., etc., at reduced prices. The store noted for best goods at lowest prices. Some Funny Things Seen in New York. MARK TWAIN MAKES JOKE r Rosenthal, sole Aents for Hanc. shoes. Watches Run on the Lincoln Trust Company and Comments on It. ' Men Sell Their Places In Line for Good Prices. NEW YORK. Nov. 6. (Special.) The recent financial disturbance has not been without its element of humor, and many little things have happened that have made even the principal suffer ers look up and smile. . One of these Incidents occurred a few days after the H'einze copper smash. A group of reporters had been patrolling in front of Charles W. Morse's house for hours, eager to get the financier to talk about the affairs of the concern, In which he was heavily Interested. From time to time they were Joined by a man who seemed to have no busi ness thereabouts, but who was as anxious as any of the reporters to see the financier. Finally Mr. Morse came and was talking with the reporters when the stranger broke in with a re quest for an audience. "Well, what can I do for you?" asked Mr. Morse. "I wrote to you," said the man, "ask ing for the Job of watching: your house and " "Goodness,- replied Mr. Morse, "what do I need of a watchman? Why, this is he best watched house In New York watched by the highest-priced talent. Why, can't you see these gentlemen would not' even let me into the place?" And with a laugh he entered his house. Wanted Big Bills. In the Knickerbocker downtown of fices one little wan amused those in the banking rooms by his protests against being paid off in small bills. He had been in the line for some time, and when it came to his turn to cash in the larger bills were gone. So he was paid off hi tens, fives and ones, receiving enough bills to fill a good sized basket. "I can't carry this stuff," he com plained to the paying teller. "What will 1 do with" it? Its an outrage to pay a man In money like this. He was hustled to one side, where he stowed the bills in every pocket till he bore a strong resemblance to a small boy who had been paying a clandestine visit to an apple orchard. Still fuming over the outrage, he went away. Ten minutes later the order to cease payments was issued. "Too bad the little old fellow was not here," said one of the bystanders, who had laughed at his plight. Later another man caused considerable commotion by demanding admission to the rooms where the president and direc tors of the company were in session. Finally the door was opened for him and he was admitted on his statement that he came to pay in money. With him he had checks, which he said represented $250, 000, but he could not tell what the money was for. "I won't tell you who I am," he told the reporters when he came out, "but you can tell the people I think it's a funny bank that a man has to fight to get in to pay money. Why, I never heard of such a state of affairs." During the height of hysteria in Wall street a street peddler appeared with a tray filled with real glass Jewels. Over them was a placard which read: "These articles of jewelry sold at. J2 each before the panic. Now they are 10 cents apiece." One of those sudden changes was wrought In the fortunes of a bookmaker who kept his money in the Trust Com pany of America." "I had a $10,000 balance in the Trust Company of America," he said, "and I came down here and looked at the long line of depositors who would have to be served before my turn would come. I went back to the Cadillac and sold my $10,000 account for $!000. "I see today that my money is safe, and I'll have to come down here Monday, and draw my $10,000, give that crafty pur chaser his $1000 unearned increment and try to convince myself that I am still a business man." Mark Twain's Joke. There was one man who was deeply in terested In the run on the Lincoln Trust Company. It was Mark Twain. The hu morist stood for some time in Fifth ave nue, near Thirty-fifth street, thoughtfully gazing at the long line of waiting de positors. ' He was white as snow as to his rai ment, and his appearance seemed to make those who had stood in the crisp air for hours wish more than ever they had brought their overcoats. The cool looking man warmed them with his smile, and when It became known who wore the snowlike clothes the ' line showed a disposition to curl around him. "Well, Mr. Clemens, what do you think of this?" he was asked. For a moment he seemed dazed. Then a look of pain, as If he had been accused of something, came between his white hat and white collar, and he whispered guiltily: "I haven't any confession to make." "No, but I mean what do you think of these poor fellows waiting out here for their money? Some of them have been here since last night," went on the ques tioner. "I think I would rather be out here than in there," responded Mark Twain, pointing to the door of the trust com pany with a pitying smile and a chuckle as he hurried away. "Why?" was called after him. "Because they have nothing but money In there, and I nothing but reporters out here." Small Graft Game. A new species of graft made Its ap pearance during the financial disturb ance, and wideawake fellows have picked up a good many dollars. About 100 men stood in line before the Colonial Trust" Company's office, and at least 10 of them had no business there. They slm ply wanted to sell their places to the highest bidder. "What do you want for your turn?" asked a depositor of the twentieth man standing in line. "Oh, give me a couple of bones and I'll step out and get in the rear." The man quickly paid the $2, and the receiver grinned and . went down to the end of the line. He was willing then to sell his crippled rights for a quarter. Some depositors at the Wall street offices of the Trust Company of Ameri ca and at the Colonial branch paid as high as $50 for a vantage 'point. Those who paid It argued that the time spent, to say nothing of the anxiety and uncertainty, was worth more to -them than $50. Sharp-witted fellows with no regular occupation have made the high est hauls. I W 4f': V''VJ I ? ! - 1 U . .: 1 4l j! v ' I ;-- V ! it ' v I . I I i' . AINCOAT The equal of any $15 Garment in town Quality and fabric hard to distinguish from the $20 sort Hundreds of them to choose from BOYS' OVERCOATS AT LOW PRICES 3 3d and Oak Stores: ist and Yamhill was fortunate in being able to secure a lease of the Admlnstration Restau rant building at the Fair Grounds. The shop is for the use of members of the society who have the privilege of renting benches with the larger ap pliances necessary In metal work. This section will undoubtedly be a center for all kinds of craft workers, such as weavers, potters, wood carv ers, etc., and Is an Ideal location. The good news has Just come that we are to have the traveling exhibit of the National society, which will arrive In December before the holidays. Also previous to that, and within a few weeks, the traveling library sent out by the same society will be here and Is for use of the members of the so ciety. Eugene will share In these ex hibits, having also been elected to membership in the National society." GOLD COMES FROM EAST Local Bankers Believe the Crisis Has Been Passed. Shipments of gold from the Bast to this Coast are the latest encouraging features In the local, banking situation. Conditions are decidedly easier in the Bast and as" they Improve there, the situation is reflected by the local banks. Shipments of specie from the East to Portland banks are expected to increase from this time on until . the stringency is released. The First National Bank received $150, 000 from the (East during the. week and the United States National had Its reserve strengthened by $110,000 in the same way. Other city banks obtained large addi tions to their available cash by like shipments. The ' better conditions that prevail In the Bast have done much to encourage Portland bankers and they, face the coming week with renewed con fidence. That the worst is over and that dally improvement in the situation will be Arts and Crafts Workshop. The Arts and Crafts Workshop is now in running order. The society UMBRELLAS Should be bought direct from the factory. Call and see our im mense line -which we are selling at specially low prices. BARGAINS Our tl.no silk - warp, ' tape - edge Gloria, with a great line of fancy handles. ' Our ?1.75 Rustproof for men. Our Pure Silk Umbrella In all colors at (13.00. -. . , Our Pure Silk Bordered effects, in all colors, from 2.3u up. Fine Presentation Umbrellas our specialty. Recovering In pure silk, all colors and black. 3.00. Fine Glorias, fl.no. 92 and f3.50. A very strong, durable cover, $1. Repairing At popular prices. Best work in the city. Personal attention to every Job. Get your umbrella fixed up before It rains. THE OLD RELIABLE HOUSE, ' Twenty Years In Portland. MEREDITH'S-2 Stores 312 Wahlnton, Nerlh. G03 Morrison, Near Sth. seen Is thp firm conviction of Portland bankers. "We have had a quiet day," said A. L. Mills, president of the First National Bank last night. "In my opinion things are getting easier all the time and the Improvement is bound to continue." "The East . is coming to the front in fine shape." said J. C. Alnsworth, presi dent of the United States National Bank. "Money i3 getting easier there and as this condition occurs, it makes it easier to bring money to this Coast. I am con fident the crisis was passed this week." J. Frank Watson, president of the Mer chants National Bank is equally opti mistic. This bank has the promise of a large shipment of specie which will ar rive this week. "Business is quiet with us." said Ben jamin I. Cohn, president of the Portland Trust Company. "I am of the belief that the crisis has been passed and the change will be for the better from day to day." J. A. Keating, cashier of the Bankers & Lumbermens Bank, is confident that the end of the present week will see clearer financial Ekies. "The East is In better shape now," said he, "and that means money is easier and more will be sent here. This will greatly improve the local situation." One result of the financial unrest of the past week is the investment of funds in mortgages. People are turning to this class of Investment In large numbers. One bank that deals extensively In this class of securities reports a strong demand for mortgages on Portland property. This shows that people have confidence In local realty and regard this as the best in vestment for their money. The new asset currency is circulating freely. All the larger stores had notices in their windows that they would accept the paper at par and it was as good as gold everywhere: " Tonight at People's Forum. The People's Forum will discuss the financial situation tonight at 8 o'clock In the Mulkey building. Second and Morrison streets. Robert Treat Piatt will speak on the question. "Is Our Bonding System Right?" Dr. Jonah B. Wise will preside, and free discus sion will follow, the address. All are welcome. , George Wallace Williams to Speak. George Wallace Williams will dis course at Council Crest today at 2:30 P. M. on the subject, "Jehovah and Jesus Christ One and the Same Per son." or "The Same Mediator Between God and Man." Mr. Williams will also read an extract from Agasstz' "Geo logical Sketches." At the conclusion of his lecture he will outline a plan to build on Council Crest a temple, to be completed and dedicated the same year as the Panama Canal Is finished. Savoy Hotel, Seattle, 2d near Seneca St.; 12 storiea, lire proof, concrete, Hteel and marble In the mont fashionable shopping district. Special lara;e sample rooms for display, Kua-llsh a-rill; 210 rooms, 135 bat hut barber shopi library. Most refined, mod ern hostelry In Seattle. 'Busses meet all trains and boats, RATES $1.00 UP. DULL TIM At This Office We Still Enjoy the Public's Confidence Because we always have and always will put the best dental work in circulation, promptly upon your de mand. We have plenty of gold when gold is needed and the requisite skill to place it so that you won't lose it. You want the best results for your money and we furnish it. Grown and Bridge Work Are two branches of our profession in which we claim superiority. Our bridges look well and last. The best that it is possible to obtain, so don't experiment elsewhere. Natural-Looking Elates out, combining beauty, strength and comfort. Old and, young receive the same considerate treatment. f Dr. B. E. Wright. t& TO . Good Set of Teeth on Rubber Plate $5.00 Best Set of Teeth on Rubber Plate $8.00 PAINLESS DENTIST DR. B. E. WRIGHT 342 1-2 Washington Street, Corner Seventh Office Hours: 8 A. M. to 5 P. M.; 7:30 to 8:30 P. M.; Sundays 9 to 1 Phone Main 2119 Twelve Years in Portland