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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Nov. 17, 1907)
THE STJTXTDAY OKElrUSlAS, rUKXLAflU, yuYKMBER 17, liW7. 7 UNEARTHS MANY CRIMINAL ACTS Borough Bank of Brooklyn and Jenkins Trust Company Irregular. STATE OFFICIAL PROBING Finds Overloans and Drafts, Forged Paper and Other Acts of Crim inal and Civil Liability Grand Jury Will Investigate. NEW YORK. Nov. 16 In securing to day the appointment of receivers for three banks ami three trust companies In New York and Brooklyn which recently sus pended. State Attorney-Gencr.il Jackson declared that in the Borough Bank of Brooklyn and In the Jenkins Trust Com pany evidence has been found of illegal overloans and of both civil and criminal action and liability. In the case of the Borough Bank Mr. Jackson stated there is evidence also of overdrafts, forged paper and other crim inal transactions, all of which w.,l be presented to the grand jury. In the Jen kins Trust Company the Attorney-General declares the records snow overloans to the president. John G. Jenkins, Jr., aggre gating $557,000. Receivers Are Appointed. The applications for receivers were made to Juciice Belts, of the Supreme Court, at Kingston, N. if- and were Oased upon affidavits of Clark Williams, super intendent of banking. The court appoint ed temporary receivers. Mr. Jackson said today that he will co operate In all efforts to reha illtate the banks now In the hands of temporary re ceivers. The Investigation thus far has been confined to the Borough Bank of Brooklyn and the Jenkins Trust Company. Assets Kxceed Deposits. Attorneys for the Brooklyn bank Issued a statement this afternoon In which they declared that the Brooklyn bank and the International Trust Company have assets of J800.000 in excess of the amount owed depositors; that they expert soon to com plete arrangements with depositors to ac cept certificates of deposit in part pay ment of their claims and that they hope to avert a permanent receivership. RESERVES MORE IMI'AIUED Jfew York Deposits Slightly In crease, Despite Uold Receipts. NEW TOBK, Nov. 16. The statement of clearing-house hanks for tne week shows that the banks hold $53,666,450 less than the requirements of the -5 per cent re serve rule. This Is a decrease of 11.723,320 in the cash reserve as compared with last week. The statement Is: Increase. Loans $1,192,010,400 $4,694,000 Deposits l.uw.aoa.ouo 2.425,700 Circulation 55.S44.400 2.9S8.L.00 Iegal tenders 4S.4U.100 771,800 Specie 17.347,900 'SM.IOO Reserves 218,659.000 1. 135,900 Reserve required ... 272.325,950 606,420 Deficit 53,666,930 1,742,320 Ex.-U. S. deposits.. 35,756,375 1,924,800 Decrease. The Financier will say tomorrow: "Last week's official statement of the New York associated banks showed comparatively small changes in the various items of loan, specie, legal tenders and deposits. The reserve on all deposits was decreased $1,750,000, while the reserve on this item less deposits of public funds was reduced near $2,000,000. One feature of the state ment was a gain of $3,000,000 In circula tion. Public deposits decreased about $750,000. The increase in loans, which In the previous week was $38,800,000, was last week $4,694,000. The decrease in cash In the week of November 9 was $4,333,000; last week It was $1,135,900. General deposits, which In the previous week Increased $35. 000,000, showed a gain last week of but $!. 425.700. "The requirement reserve in the week of November 9 Increased $8,750,000; last week the gain was $606,405. The decrease In reserve against all deposits In the pre vious week was $13,000,000: last week It was $1,742,325. The deficiency In reserve In the week of November 9 was nearly $52, 000.000; last week it was $53,666,950. The deficiency n the previous week, as com puted on the basis of deposits, less those of public funds, was $33,666,000. Such de ficiency last week was $35,576,375. As was the case in the week of November 9. the statement was made up on rising aver ages for cash. The arrivals of gold from abroad accounted for the entire amount of $23,500,000, but very large sums were sent to the Interior. Next week a con siderable portion 01 the gold now afloat will have been received at this port. "The percentage of reserve to general deposits -was this week 20.1 per cent, a decrease of one-tenth of 1 per cent from the previous week; the percentage of re erve to deposits lees those of public funds was last week 21.4, a decrease of four tenths of 1 per cent from the previous week. "The statement for the week ending July 1, 1893 the third week following the issue of clearing-house loam certificates showed a contraction compared with the previous week of $1,027,700 in loans to $405, 000,000; a net loss in cash of $5,251,500 to $100,666,000: a decrease In the deposits of only $S5,000 to $398,000,000. and a reduction of $4,130,250 in reserve to $1,251,725 surplus The total Issues of clearing-house loan cer tificates were officially reported at $1S 800 -000. Money at call rose to 75 per cent when the tension was relieved by an Issue of $6,000,000 loan certificates. It Is note worthy that It was not until the follow ing -week that the reserve was reduced to a deficiency; then such deficiency u $5.80:.2O5." HOARDS COME OUT OF HIDING Premium on Currency the Bait In terior Banks Increase Reserves. NEW YORK. Nov. 1S.-"I believe." said Secretary Cortelyou to the Merchants As sociation in New York, "that, if the money of the country, wherever hoarded, were at once put back to fulfill its func tions In the channels of trade, there would be within 24 hours an almost com plete resumption of business operations." It is upon the situation thus adverted to that attention converged In the finan cial world during all of the past week. The seat of the difficulty was the sub ject of constant and somewhat differing discussion, but the differences did not check the diligent and powerful efforts to remedy the difficulty, and the declining tendency of the premium on currency was index of the growing success of these efforts. The premium on currency is in creasingly und Tstood to be in reality a discount on bank checks, caused by the dislocation of existing operations growing out oX the widening effects of the shock of the upset in banking affairs affecting the runs on trust companies in New York. It is acutely observed, however, that the payments -for currency at premiums in these transactions have been in cer tified checks on banks and that the pro ceeds of the transactions have found their way into hank deposits, notwithstanding that the holding of the currency was sup posed to involve a distrust of the banks. From this it is inferred that the con ditions were precipitated In no small part by the deliberate hoarding of money on a large scale by speculators who sought to profit In the operation. Severe animadversion on such a course of con duct is much heard. It is estimated, how ever, that the effect of the ruling pre mium on currency has already been to draw out from hoarding a very large pro portion of the cash which was withdrawn from the New York trust companies during the runs and thus restore it to the channels of banking operations. Another factor in the depletion of cur rency which has received growing atten tion has been the movement of money Into interior banks, where it has ap parently disappeared In large part as completely from the channels of circula tion as the sums previously hoarded In New York. The condition of the Interior exchanges on New York reveals this fact. Deposits of interior banks In the New York banks have been drawn down to such an extent that exchange on New York is almost unobtainable at many important outside centers. Remittances to New York in payment of obligations are correspondingly difficult and are made, in many instances, by checks on Interior banks. When these are deposited In New York, they are accepted only sub ject to collection and this involves a delay to await receipt of cash, as daposits in New York are Inadequate to meet them. Criticism is heard that this condition is due to heavy accumulations of cash in the reserves in the Interior banks, which were prompted as a precautionary mea sure against the decided shock of the original disturbance, but which. It Is urged, have been excessive. It is notable that the seeming ramuie " currency exists In the face of an actual volume of money In circulation, or avail able for circulation, larger than ever be fore. The monthly statement of the Trea sury Department shows the amount of all kinds of money in circulation on Novem ber 1 to be $2,876,368,000, which was an In crease compared with October 1 of more than $75,000,000, .represented largely by the deposits of Government funds which were made with the banks after the crisis developed in October. Since that time receipts from abroad of more than $33, 000.000 of gold and a rapid expansion of bank note issues has liberally replenished the November 1 supply. LUXURY AND THAT RIG FINE Colvln Attributes Money Troubles to Two Causes. CHICAGO, Nov. 16. Extravagant living by those who have made money easily during the prosperous times, and the efforts of others to live on an equal --ale, were cited as leading causes for present financial difficulties by president William H. Colvln of the t. ...cago Stock Exchange, in an address at a fellowship dinner given last night by the Fort Dearbon Club. The speaker also refered to the line Imposed by Judge Landls on the Standard Oil Company, saying: This fine, equal to thirty times the company's capital and the statement from the Government that It can be collected, surely had an Important bearing on the values of all securities for the clerks of any company, might be equally negligent, with no dishonest motive, or, being dis honest or malicious, could ruin every stockholder." Mr. Colvln spoke of certain recent state legislation against railroads as an effort "to secure a portion of the pu ic applause to make political capital, as it has been so successfully done in A ash lngton." Many attacks on corporations, he as serted, have been mercilessly destructive, without carrying with them any quality of creativeness. He advocated the pas sage of a wise currency law. WORLD CONFERENCE ON MONEY Italian Financier Proposes Reform of Banking Laws. VIENNA, Austria, Nov. 16. An article In the Neue Frele Presse, written by Sig nor Laiizzati, Italy's foremost financial authority, urging the calling of an Inter national conferenae to consider the gold crisis. Is attracting attention In financial circles. Lulzzatl proposes that the treas uries and the leading banks of the world be represented and with delegates, exam ine the statutes of banks of Issue and reform them. He believes the statutes are out of date and that they are useless In money crises and make them worse He says this Is especially true of the United States and England. The antique regulations of the Bank of England decrease the gold basis. Discount banks ought to increase their reserves and not rely alone upon the the ory that England and Germany govern the money market and England Is on the point of losing monetary autonomy be cause her metal basis Is too small. Signer Lulzzatl favors an International agreement among the world's chief banks for reciprocal loans of gold so as to pre vent rivalry. He suggests that Austria and Italy Jointly ask France, as the chief banking power of the world, to summon the conference. CONFERENCE AT WHITE HOUSE Roosevelt Consults Advisers on Fi nancial Situation. WASHINGTON. Nov. 16. The financial situation formed the topic of an Important conference at ine White House tonight, those participating In addition to the President being Secretaries Cortelyou and Root and Postmaster-General Meyer. No statement was obtainable as to the result. Later Mr. Cortelyou returned to the White House alone and remained with the President half an hour, when, the financial subject was further discussed. Mr. Cortelyou. after leaving the White House at 11 o'clock went to the Treasury Department. Secretary Garfield and Secretary Loeb were with the President a portion of the evening. It was later learned that Frank B. Kellogg, special counsel for the Gov ernment, was also present at the sec ond conference of Mr. Cortelyou. He declined to make any statement, saying that the whole subject was strictly confidential. Bl YS MORE ENGLISH BAR GOLD Obtains 471,000 Pounds From Bank of England. LONDON, Nov. 16. The United States bought 471,000 In bar gold from the Bank of England today, making in all about 2.750,000 from this source during the week, besides 600,000 bought in the open market. Stampede to Cancel Orders. NEW YORK. Nov. 16. A feature of the current financial strain, says the Journal of Commerce today, highly illu minative of how even usually calm and conservative mercantile interests may lose their equanimity and join a sense less stampede. Is the promptness with which cancellations of forward merchan dise orders are beginning to reach large New York merchants from their Interior customers. The cancellation movement applies as a rule to contemplated deliveries extending well into the new year. It also applies in large measure to staple goods, which even under extremely adverse circum stances will necessarily be required for consumption and on which It Is asserted the probabilities of severe reductions In prices are not especially promising. New York merchants are not accepting the cancellations, but are Instead showing their clients the danger of the course that is being pursued. The New York commission houses wherever necessary are willing to show whatever co-operation may be desirable t carry specific transactions over the current period of acute strain, but they are not willing to cancel orders already confirmed nor to unduly delay delivery. Receivers for Closed Banks. KINGSTON, N. Y.. Nov. 16. Temporary receivers were appointed today for six New York City banks and trust com panies, which recently suspended payment. The banks are, the Hamilton, of 125th street. New York: the Brooklyn Bank and the Borough Bank of Brooklyn; and trust companies, the Williamsburg & Jen kins of Brooklyn, the International of New York. Applications fof the receiverships were made by William F. Mackey, for At torney General Jackson. Order to show cause why permanent receivers should not be appointed were granted and made answerable, at Albany. Nov. 30. Buy American Coal. SAN FRANCISCO, Nov. 16. The Bul letin today says mat the announcement of a general strike of coal miners at New castle, New South Wales, has resulted In a great Increase of rush orders di rected to American and British Columbia sources of supply. Importers and dealers are looking to the collieries on the Coast to Increase their output sufficiently to offset the shortage of the Australian product. Gold for Payrolls. SAN FRANCISCO. Nov. 16. At the lo cal banks today a large number of em ployers asked for payrolls, and gold was given to all who have continued to make deposits since financial conditions be came unsettled. At today's regular meet ing of the clearing-house committee It was reported that the certificates Issued for large amounts are rapidly .being re placed by those of small denominations. Stocks Weak in Berlin. BERLIN, Nov. 16. All departments n the Bourse today were very weak upon yesterday's New York advices and the fear that the American demand for gold will cause the Bank of England to raise Its discount rate from 7 to 8 per cent on Monday. American rails were from l'i to 2 points off. Bisbee to Strike for Her Coin. BISBEE, Ariz.. Nov. 16. At a meet ing of practically all the merchants of this city today a resolution passed to the effect that all orders of goods from other parts of the country which would be delivered by the Wells-Fargo Express Company shall be canceled. Chile Sends Money. VALPARAISO. Nov. 16. The money exported from Chile during the recent financial stringency in Europe and America is estimated to have been 1,000,000. WORK FOR CONGRESS TO DO REGULATE THE CORPORATION STOCKS FIRST. Tax Gambling in Railroad Stocks to Prevent Absorption of the Money Supply. CLARINDA, Iowa, Nov. 18 William P. Hepburn, chairman of the House commit tee on Interstate and foreign commerce, will start for Washington tomorrow. Speaking of possible Congressional legis lation this Winter, he said: I regard It as extremely probable that there will be enacted thl Winter legisla tion to secure the regulation of the Issues of stocks and bonds of corporations doing lnter-state buslnps. Certainly there ousht to be such legislation and control. The President and Attorney-General are aatls fled that Congress has the necessary power and we certainly know that the question of power cannot be deeldea until the legis lation has been had. I also regard It as most desirable that the taxing power of the Government should be used to prevent gambling in railroad stocks, by taxing all sales where delivery Is not made within such reasonable time as to indicate that the transaction is bona fide and not for speculation. If there Is buying and selling on margins and without the Intention of actual delivery of the stock, speculation will absorb the resources of the banks and take money from legitimate enterprises which need It. AT THE HOTELS. Hotel Portland Mrs. H. Kendall. Chi cago; F. E. Hurd, Lincoln; W. E. O. Kane, Cincinnati; A. G. C. Hahn and wife. New York; S. L. Hoffman, Baltimore; W. R. Armstrong and family. Salt Lake: R. T. Ballard. 3. C- Silverman, Minneapolis: C Burkhart. Seattle; A. Davis, New York: S. C. Smith, San Francisco; J. Schwarz. Chi cago; A. L Blltx. Denver; W. D. Miller, St. Paul; G. O. Newman. Chicago: B. Rosen feld, San Francisco; J. V. Hallar, New York; W. L.. Carson, Seattle; T. B. Jenktnson, Medicine; J. S. Robinson. Plncher Creek; A. G. Delaney, Chicago; S. U. Bell. Marsh field; F. C. Brown, New York; A. 8. Morris, Chicago; K. A. Relchman, New York: S. C. Moss and wife. Chicago; B- F. Garland and wife. Chicago; R. Balfour, London: B. H. Graves, Chicago; I. Mclntyre. San Fran cisco; J. D. Riley. St. Paul; E. W. Strauss, M. B. Ayerstlne. Chicago; H. L Fisher, Pittsburg; H- Wooly and wife, L. F. Weiss, New York; R. M. Johnson, Baltimore: H. Grassette, College Widow; S. Kenney. M. C. Harlem, Seattle; C. W. T. Koch and son, Chicago; J. Danlelbaum, New York; J. W. Shumatl and wife. Eugene; W. L. Temple ton. Mrs. C. M. Wayne, Chicago; H. A. Truholm. Seattle; J. C. Van Duyn. Mollne; S. H. Marks. A. P. Jones. New York; Mrs. 8. B. Wilde. Astoria; C. Beyer. J. T. Dutcher. A. Maekiiiop. New York; C. M. Levy, San Francisco; R. M. Bond. Seattle; C. T. E- Gilford and wife. New York; G. Land. Orovllle; C. A. Paul. Peoria; W. A. Plnkerton, Chicago; W. W. McLoughlln, New York: J. C. Fraser. San Francisco; P. K. Ahem, Seattle; A. Bartlett, Tacoma; C. E. Rohr, Gan Francisco; J. Guckenhelmer, J. M. Rosenfeld. Pittsburg. The Oregon A. Dunn, San Rafael: J. T. Ross. Astoria; Dr. L. M. 61ms and daugnter, Kalama; August Burgen. Seattle; A. P. Cruse, Philadelphia; B. A. Welbon, C. D. McKenxie. Seattle; Otto Miller. San Francisco- G- T Falrgrove, Detroit; N. J. Mac Pherson. Wasco; N. P. O'Reilly. Mr. and Mrs. Stevens. C. W, MoCarmack. Seattle; Miss Bell Turner. Los Angeles: J. McLeod and wife. San Francisco: Harry Greenblatt. Omaha' W. H. Johnson. Malto; W. E. Thompson. L. E. Thome. J. E. Thomas, Chicago; P. D- Callahan, Seattle; R. E. Golden and wife, Yacolt; Mrs. N. O. Lawton and children, Michigan; Mrs. G. T. Phil brick, Seattle; Mrs. w. F. Copenham. Wallace- S. O. Bradley, Seattle; Mrs. J. Shea, San Francisco; J. E. Cate. Chicago; C E Johnston and wife, Hoqulam; Frank Ray and wife, Seattle; C. F. Taylor. Omaha; Grace M. Kelr. Hood River; A. A. Geffney. Seattle- E. H. Clarke. Pendleton; J. Sloter, New York; C. E. Rhlnehart, St. Louis: S. Bissinger, Portland; M. C Phillips. Cor vallls; C. R- Tream and wife. Pendleton; W. D Kelr H. Hartman. Duiuth ; D. Mayberger. McMlnnville; W. Bard and wife. Seattle: J. Shea, San Francisco; F. L Stewart, Kelso; J Weaver, Madison; Miss E. Pattor. Stockton- F. Sweet. San Francisco; George W. Balsley. SDOkane; Mr. and Mrs. Kerlee. Ilwaco. The Perkins Alfred S. Bennett. The Dalles- R. D. Williams and wife. Pomeroy: C E Cutter, Tacoma; J. Tallman. K. Brewer, Seattle; C. Oeston, city; C. Frank. C. Hutton. The Dalles; Mrs. W. F. Copen haven. Oakland; T. H. Burthardt and son, Salem- F. Lombard, San Francisco; R. M. Cain, 'Scloj M. A. Grant, Oakland; J. M. Ward, San Francisco- L. K. Carmloheal. St. Helena; C- K- Spalding, Salem; J. Qulnn. G. Menson, Walla Walla; H. Scott, Colfax; W. A. Cushman, Walla Walla; J. Dunn, Little Valley; W. H. Hlclu, H. A. Bachofer, HUlsboro; D. Vaughan, McMlnnville: J. Crom, Seattle; I. Sorenson. Spokane; Mrs. W. T. McBride, Mrs. A. E- Alexander, Aber deen; Miss Estelle Day. Eugene; G. R. Tall. Goble: R. H. Edwards. D. Johnson, Spokane; Mrs. Dunne and daughter. Seattle: B. M. Bogens and wife, Warrenton: Mrs. K- Bent ley, Vancouver; W. W. Carland. Chicago; F. N. Ralston. W. L. Dlnkle. J. H. Tiler. Sllverton: R. M. Cain, Scio; D- E. Severy, Florence: F. Gelinsky, New York; B. B. Bare and wife. Seattle. The Imperial Louis Rocsch, Buffalo; F. T. Liggett, Olympla; Dr. J. T. White, Cam den, N. J.; George T. Pickett and wife. George Allen, city; George B. Howell. San Francisco: H. L. Butler, Everett; H. L. Harris. Elyrla, O. ; Herman Sehmltt. Cres well: A. C. Dixon. Eugene; A. R. Maltoon and wife, Riddle; J. G. Mllllcan and family. Toppalsh; Milton Crlchard and wife. Car bonado; A D. Pass and wife, Omaha: L. M. Clark, Seattle; R. P. Moser, Vancouver; H. Alber, city; O. Bur,er. Seattle; A. J. Goodman and wife, Pendleton; Mrs. H. C. Mabon. Eugene; M. McDonald. Salem: R. M. Mitchell, Detroit: R. J. F. Thurston. Brownsville; Fred J. Blaklly. Roseburg; J. C. Clinton. Mrs. McClellan, Astoria: J. Wil liams, Kalama; Mabel Haines, Ben Appel, Creston: C. W. Blnner and family, Seattle; C. A. Cole and wife, Pendleton; Mrs. G. H. Caaner and family, Pendleton; D. C. Abrams, Seattle; John Hyde. Pasadena; J. M. Wltheral, Yacolt; O. Wankowskl and wife. Seattle; D. D. MeClure, White Salmon; N. 8. Atkins, Forest Grove: J. M. Kyle, echo; W. T. Perkins and wife, Salem; W. T. Vanderveer. Cedar Rapids; J. Z. Winder, Richmond, Ind.; W. H. Barker. Stillwater; Mrs. W. M. Browujohn, Carlton; M. V. Simon. McMlnnville; J. O. Deerlng, Seattle; M. Johnson. Carlton: Cecilia Kirk. McMlnn ville; Charles A. Davis, Denver; F. E. Howell. Schalls: D. W. Ward. Forest Grove; R. D. Hume, Wedderburn; J. O. Mark, W. Kennedy. Hood River; John E. Schmidt, Rainier; J. T. Warel, Tacoma: F. 8. Rhodes, Salem; G. W. Shelly. 8an Francisco; Mrs. D. V. 8. Reld, Heppner; Mrs. John Mary, Eugene: Mrs. Dora Scott, Coburg: R. W. Erwln. Pipestone: E. M. Howard. E. I'. Don't Let Your Piles Grow Every Hemorrhoidal Ulcer is a Fertile Field for Cancer and Other Deadly Diseases. TRIAL PACKAGE FREE. Constipation unchecked brings inflam mation, inflammation begets piles and piles too often superinduce tumors of malignant nature. Piles (or hemorrhoids) rarely kill, but they cauae more agony in a few minutes than much more serious troubles. They are easy to cure If you gc at It right. An operation with the knife is danger ous, agonizing, and rarely a permanent success. There Is Just one way to be cured one sure way, painlessly and privately and that Is with Pyramid Pile Cure. We mall a free trial package to all who write. It will give you instant relief, and start you well on the way to a perfect cure. Then you can get a full-sized box from any druggist for 50 cents, and often one box curee. Insist on having what you call for. Just send your name and address to Pyramid Drug Co., 97 Pyramid ..uiluing, Marshall, Mich., and receive free by re turn mall the trial package In a plain wrapper. All druggists 60 centa. Writ today for a free package. H. Fraser, Goldenaale, The St. Charles. Roy Graves. Hamilton; H. H. Hlllegus. Chicago; I. C. Martin, Castle Rock: H. L. Driver, city; B. M. Far rls. Spring Hill: G. Hoar, city; S. Romtvedt, Toledo; C. Hafiaen, Carlton; P. L. Chand ler. La Grande; H. M. Hudson. Megyers; F. J. Fllppln. Rainier; J. A. Leltzel, Eagle Creek; A. Williams, city. Watson Baron. Hiram; W. W. Coos, Sterberg; Mrs. F. E. Barnes and sister. HUlsboro; Mrs. F. Wig gin. Luther B. Smith, Albert Leodahle, Oak Point; N. A. Ellison, Boston; Samuel J. Nicholson. U. S. A.; F. F. Taylor, U. 8 A.; George W. Rice and wife. The Dalles: George H. Gray. Aurora; James Tabor and wife. William Mlml Kelly, Barton; U X. Swick. Monmouth; Florence Vorgh, J. W. Burkholder, Rainier: H. S. Kropp, Necedal. Wis.; J. A. Leitrol. Eagle Creek; C. 8. Evans, city: Page Patton, E. Natson, HUls boro; William Clune and daughter, Seattle; Mrs. M. Farmer. Oregon City; William Laderleg, Houlton; C. H. Morller, Columbia City; George Anderson, city; Pierce Weight, Seattle: F. A. Young. Holton; W. Al Jones, Gervals; Y. 8hannon. Independence; John W. Galleroy, Aberdeen; H. 8. Duglaas, city; Alfred Locke, Tacoma; R. L. Look. Morro; A. A. Brown. Aberdeen; E. W. Nelson. White Salmon: Ben Scott. North Yamhill: Walter Thomas, White Salmon; Oscar A. Thaesen, Seattle; R. Spiers, Kelso; H. Eastman. Ore gon City; 8. M. Tennis. Sprlngvllle; A. C. SPECIAL This solid golden oak 6-ft. Ex tension Table, very strong, a regular 120.00 value, ! o Cf special lO.OVJ This Solid Oak Morris Chair Mission Finish, has Spring Seat and Reversible Cushions. Special, only $7.SO Mall, city: H. N. Fraser, INDEPENDENT SJ5E Complete Housef urnishers 104-106 First Street Green Front Building Bet. Washington and Stark Sts. CASH OR CREDIT IF YOU WANT TO KNOW WHAT SMARTLY DRESSED MEN WILL WEAR THIS SEASON, ASK BEN SELLING IF YOU WANT A Raincoat or Overcoat That is as near CLOTHES PERFECTION as is possible to be had--we invite you to call and examine our stock-more than one thousand to choose from, and they are MORE REASONABLE IN PRICE than you would expect in such high-class work manship and material-- $15 - $50 OUR JUVENILE DEPARTMENT carries the most complete stock of Over coats and Raincoats in the city such a comfortable place to shop, too. BEN SELLING LEADING CLOTHIER Meslnger and wife. Seattle; George W. Tay lor, Beaverton; G. W. Miller, Reedvllle; H. J. Hood. Philadelphia; H. M. Fox. Oswego; A. W. Killing. Woodburn; J. T. Chamber lain, John Swanson, city; H. L. Stephens and wife. Boston; William L. Trombll, S. E. Hall and wife. E. Williams, V. Dickey, city; H. Goodell. Astoria; V. W. Wallace. Wood land; C. H. Brewster, Tacoma; O. C. Plchett, Philomath; Roy McBarkey, Carleton; R. Beamish. HUlsboro. "The Lenox W. Downey. Philadelphia; C. A- Bryant. W. D. Howard and wife, Seattle; J. F. Bovard. J. H. Wagner, Eugene; Mrs. G. Makla, Nome; E. H. Todd. Tacoma; W. M. Brock. New York; F. Denning, Seattle; B. G. Leedy, Sherwood ; Mrs. Mary S. Howard. Mullno; R. S. MeNlchoIs and wife, Clackamas; L. R. Bentaon and wife. Van couver; H. L. Mitchell. St. Paul: S. R. Miller, Glendale; B. F. Shaffer, Seattle; J. A. Bolter. F. G- Baiter. Brooks; E. A. Cook, Portland; G. A. buncbon, Alameda; J. G. Hardly, Portland; J. W. Bredln, Chicago; G. W. Seaborg. Skamokawa; C. K. Camp bell, San Francisco; W. H. Stone. Los An geles; C. H Smith. Stockton; J. L. North. Boston; D. E. Jackson, W. K. Cortes. Phila delphia: Mrs. Hanna Thomas, Denver: Miss C. Martch. Emmett; M. D. Bennett. Idaho; D. B. Forks. Seattle; Mrs. C. J. Kenworthy. Pendleton; F. B. Lynch and wife. Seattle; C. O. Kimball, Spokane; J. F. Crouch. Phila delphia; V. F. Houk, Spokane; J. L. Strong. Lincoln; Q. Winn. Weston. BARGAINS! CURTAIN STRETCHERS. ..1,. o, n 1,1 l u win v JJ . . , n , n w 1...SA1IU No. 2, adjustable pins and easel back, special 92.15 Come in and Inspect Our Stock and Get Our Prices Before You Buy Elsewhere. We Will Save You Money. A SAFE PLACE FOR YOUR MONEY INVESTORS LARGE AND SMALL HAVE GREATEST OPPORTUNITY Oregon Gold Offers Investors Many Times Better Returns Than Any of the New York Stocks for Which There Is a Stam pede Back East. Never In the history of the West, with Its big and quick returns, waa there offered the Investing public so safe, sound and conservative an Investment, with so evident a pros pect for rapid and certain proflts, as Is now put before them In Oregon gold, controlled by the Western Exploration & Dredging Company, with headquarters in the Couch building, Portland. This company has control of 12,866 acres of the richest and most accessible gold-dredging lands In Eastern Oregon. A vast gold dredging Industry Is being built up in that richly auriferous section that is bound eventually to surpass In output every gold-dredging field In the world today. Few Oregonl ans realize the mammoth propor tions of this Industry. Were It located a thousand miles away we would read of it with wonder and amazement; but it is so close to us that, as a people, we can hardly grasp Its magnitude. ORDERS POUR IX. However, the bank difficulties have aroused the most thoughtful class of people. They have lookefd into the Oregon gold proposition, and in consequence orders for stock pour in with every mail. No man can compare the Oregon gold in vestment with Eastern stock propo sitions without seeing the vast ad vantage of the former. Besides the personal advantage In dollars and cents to the Investor, Oregonlans have a strong sense of state pride and loyalty, and they gladly go Into an enterprise that Is to mean so much to the wealth of the entire state. Every man and woman who has not already invested should not allow tomorrow's sun to set until they have taken steps to investigate the Oregon gold proposition, with a view to putting at least a few dollars Into this safest of all West ern industries. Every Oregonian owes this much to himself and his future. The Western Exploration & Dredging Company Is located at 215 Couch building. F. M. Batches lor Is Secretary and General Manager. 19 -