The Sunday Oregonian., September 27, 1908, Page 3, Image 3

THE SUNDAY. OREGONIAX. PORTLAND. SEPTEMBER 27, 1908.
SHOWS
SOPHISTRY
N DMGUMUNTEE
Taft Analyzes Bryan's Brand
New Remedy for Finan
cial Panics.
POSTAL BANKS ARE BETTER
Able Speech at Minneapolis Is Last
of F.ven Dozen Days' Tour
Through Iowa and
Minnesota.
MINNEAPOLIS. Minn.. Srt. 28 The
fourth day of William II. Taft speaking-
campaign ended here tonight with
the delivery of his views in favor of
postal savings banks and In opposi
tion to the Bryan theory regarding
Government guaranty of bank de
posits. Jlr. Taft will rest from his
labors here tomorrow and continue his
whirlwind methodH Monday.
Aftr a night ride from Des Moines,
the day's work was Tioun early this
morning at Od;i r Rnpids and ron tin
ned northward up through Iowa Into
Minnesota, ending with mammoth
meetings at the Twin (Mties tonight.
An even dozon spee-hrs were made
py Mr. Taft. each to a decidedly larger
audience than rould hear liim. nl
though there was ;i noticeable im
provement In his volco tiring the day.
J n Iowa t he t m I n vu s aecom pa n ted
by local committeemen and Congress
men f ro'm that state, and in M in ne -sota
the speaker's list was augmented
by Senator CInpp. Congressmen Davis.
Stevens. Tawncy and Steetierson and
Jake Jaconson. Republican candidate
for Governor, besides a large nu nber
of local politicians.
Rig Meetings at Twin Chios.
The big meeting came at the end of
the day at St. Paul. The candidate was
taken to the Auditorium, the largest
assembly ha!I in the -i. where he de
livered a brief spe'h on the general
policies of the Republican partj, con
trasting them with thoe of the Demo
cratic party. The Auditorium was
crqwded to its eaparli y and the meet
ing was one of great enthusiasm. The
St. Paul stop occupied more than an
hour, when the journey to Minneapolis
was made. Here. too. the meeting was
held In the- Auditorium, the capacity of
which was taxed to the utmost. Elab
orate arrangements for escorts, bands
and automobiles were carried out in
each city and political enthusiasm was
at a high pitch.
Would Like to Hide Elephant.
X. At Faribault Mr. Taft was Invited
to take a seat on a large elephant,
which was led to the rear of the train.
The animal was decorated with the fa
miliar "G. O. P." sign and was ridden
by what the candidate declared to be a
"very pretty girl."
"I would like mighty well to be up
there with you." he told her. while the
crowd laughed, "but I know you have
not a derrick strong tnough for me
to mount. But Just the same. I believe
1 could ride that animal with great
success."
The day's programme consisted of
speeches at Cedar Rapids. Vinton. Wa
terloo. Cedar Falls and Waverly Junc
tion, la., .and Albert Iea, Owatonna,
Faribault. Northfleld. Farming ton, St.
Paul and Minneapolis.
la his speech at this city on the bank
question Mr. Taft said:
Two Flank on BttukiDg.
1 winh to call your attention today to a
plnk in tho Kiublican platform and to a
plnnk In the l-iiuHTntit: platform which in-pr-sont
though not controlling issues
in thtfl campaign. I rrrer nrt to the plank
la tho Republican platform that rccoin
inmis the Huopiion of pout a I navlng. banks.
The Republican convention oouotlep had In
inlnd the bill which had been introduced In
the Senate and reported to the Senate com
mittee fur pasNig-e. authorizing; umi direct
ing the Postmaster-General to receive av
Inics deponlts at every mo.iey order office
ami at such other offices as he may d-tft
nate. In sums of SI or more and multiples
of ten cents after the rtrst dollar.
After narrating the provisions of the
bill. Mr. Taft said:
Need or Postal Baokt.
The objection has been made that this Is
paternalism and socialism ami Is Introducing
the Government into tho banking business.
The objection is without w eight. If there
were saving- banks in all the country as
numerous and aa easy of access as they are i
In Massachusetts, in the New Kngland i
States and In New York. It miRht be said
that the postal savings bank was In inva- I
alon of territory properly occupied by prl- I
vat enterprises, although even then It
rould be pointed out that the function per
formed by the postal savinrs bank is miih
more comprehensive than that of the ordt
narv savings bank. But when it is consid
ered that in ontv 11 of 3.". states are there
savings bank facilities, when it is known
that in the Middle West, east of the Rocky
Mountains, the average distance from any
post office to a bank of any kind Is 33 miles,
and west of the Rockies is o miles. It can
be readily understood that private -enterprise
does not supply the need of savings
banks, which, in order to furnish a motive
and opportunity for thrift and savins;, should
be easv of access to the elass whose welfare
It Is sought thereby to Improve, of the .t
tOOO.0oO deposits In savings banks 33 per
cent Is in New Kngland. 38 per cent In New
York. Jl per cent
'ennsy i va n ia. Oh io.
Illinois. Iw and California, leaving- but
per cent of the total in other states
We should not deny to our people througn
eut the country opportunity to make small
deposits with the security of the Govern
ment's promise to pay principal and inter
est. Such a system will add greatly to
the money savings of the country.
ot Injure Private Bank.
The fear bv any elass of banks that this
would Interfere with their business the ex
peri en re in other countries has shown to
be utterly unfounded.
Where savings banks are established, they
ray a higher rata of interest than the Gov
ernment will pay for deposits in the postal
savings banks, and confer privileges on
their depositors which it would be Impos
sible to grant under a Government system.
A sij-niflrant fact In connection with the
postal savings banks of thoso countries
where they have been most successful is
that one-third of the depositors of the pos
tal savings banks abroad are minors and
two-thirds of them are workingmen.
I'wful In Panic Time.
The postal savings banks would perform a
most useful function in case of panics,
fcecaus thy are Government lust it u I ions
with the w hole credit of the Government
behind them, and would attract the de
posits of those pmall depositors whose runs
in panto times upon the banks produce such
disastrous consequences. The deposit of
this money in Government offices and the
power . of the Government, which rede-
posits that money in the National banks i
In the nelgnnorhood. would furnish a means
i f meeting an exigency that no other system
proposed has thus far offered.
Democratic Guarantee Plan.
This postal savings bank system, however,
does not meet the unqualified approval or
the Democratic, party. It has not the vote
catching; quality and Involves onlv the old
fashioned gradual movement toward bet
ter thlnsfs by means of Industry and thrift
and saving. Tho party under its present
leadership must have something: which of
fers a short cut to reform at the cost of
the honest and Industrious.
The Democratic p .at form pledges the nartv
to the support of a system by whl-h all the
i"ational hanks of the country are required
to g-uarantee the deposits to the depositors In
every bank, and this guaranty If to b- per
formed by a tar on each bank in proportion
to Its deposits, the proceeds of the tax to
constitute a fon4 from which the depositors
f any failing; bank are to be paid; and tf
the amount of the tax la not sufficient to
raa the fund required, then It la to be
rafsd by subsequent assessment on all the
banks of the country, and state banks are
to be allowed to come in and get the benefit
of the same guaranty under conditions to be
Imposed by law. While, the Democratic
piatferm do not elaborate the system, it Is
to be inferred from the fact thst the prece
dent in Ok iahoma Is re I led upon that the
provisions sre to be like the Oklahoma law.
and these are as above stated.
Small Loss oa National Banks.
No one rsn dispute the importance of mak
ing the deposits In every National bank as
secure as possible, provided the reme-iy
acoptefl is not ltsvlr worse man m fv to
b cured. The Government has Imposed er
tain limitations upon National banks which
have already ten-led to reduce the losses of
depositors. The remit has bn to Introduce
into National banks s rias of men ef high
rharacter and area, business and banking
abilitv. and the losses In the last 40 years to
depositors in National banks have been re
duced to an averase annual lows of one-twenty-eixth
of 1 per rent of total deposits
If the loss, even though small, could he re
duced. It would be of great benefit and should
be brought about, for. while the percentage
is small, the Individuals upon whom the loss
falls may be heavy sufferers. The question
is whether we are to bring about sn avoid
ant of thts loss by the proposed Democratic
rerredy or in a more conservative and cr1ua
eav hv perfecting the examination of banks
snd by rigid prosecution of all who violate
the hanking laws.
Makes Good Banks Pay for Bad.
The remedy proposed by Mr. Brysn will
make the conservative banker pay for the
ngHgcnce. carelessness, lack of confidence or
dishonesty of the falling banker. It takes
from one man without fault on his part money
to pay for the default of another. That la
socialistic doctrine, and so violates all equit
able principles that the remedy should be
condemned for this reason.
To say. as Mr. Bryan does, that the postal
saving bank system Is more socialistic than
this In to give a curious definition to socialism.
The postal savings bank takes no man's money
to make up for the default of another. It
merely usee an arm of the Government which
la not ana cannot ne oiscnargea oy pnnc
enterprises. Whereas the enforced guaranty
plan takes out of one man's pocket engaged
In the business of banking money to pay for
another man's default. That is pure so
cial Lsm.
Mr. Brysn sugrests the expense connected
with the examination of banks imposes a
burden on one man for the default of an
other. There Is no analogy whatever be
tween the reasonable requirement for the ex
amination of all bank and the taking out of
one man's pockets money to pay for the fault
of another. it Is a reasonable Imposition
upon all banks that their accounts should be
examined, and that their methods of doing
business should be constantly under public
supervision and It Is reasoning erroneous as
It la refined to make the pro-rata cost of a
general bank examination a precedent for
taking money out of one man's pocket for
another man's default.
. it has been shown that in the state of
Connecticut. If this system had been in force
during the last ten years and the tax had
been paid out. but S,11.iJ would have been
ree-lved. This Illustrate the unjust, in
equitable and socialistic character of a com
pulsory system most completely.
Guaranty Will Not Help.
Now let ua pass the socialistic and In
equitable feature of this system and come
to the question whether It will really help
matters. It Is permissible under the Na
tional banking act for banks to organise
with a capital of S3.0O0. The security
which banks offer the depositors depends
upon the amount of capital, the amount of
surplus and public contidence In the officers
of the institution. Under the proposed sys
tem, the depositors In a bank with a cap
ital of $l.".tHM) and no surplus and with offi
cers of little experience and indifferent rep
utation cannot offer the public exactly the
same securitv for the payment of deposits
as a bank with a capital of $."VO0.00O, a sur
plus of $J50.0 snd with officers known to
be honest and able. Depositors, therefore,
insofar as security of deposits is concerned,
are not as likely to make their deposits In
the $:!5.hm banks aa In the bank with a
capital of 1.00.000.
Cannot tlx Interest Bate.
It la proposed to introduce Into the law
a limitation as to the amount of interest
which under the system can be offered and
paid on deposits. This, It is said, will pre
vent banks from offering excessive rates of
Interest to obtain deposits. A limitation of
this sort is difficult to Ax. because con
ditions vary so much In different parts of
the country. That which would be high In
one part of the country would be low in
another, and that which would be high
at one season under certain conditions would
be low at another time. Hence, whatever
limitation is Imposed, except when the nor
mal interest is highest, there must always :
be an opportunity for thus Inviting de
posits to pay a higher rate than that which i
conservative bankers would pay.
If the losses were limited to one-twenty-
sixth of 1 per cent, the amount of the tax I
on deposits, of course, would be small and I
each bank could readily pay It. although the
principle would be an entire denartiire frnm
equity; but the effect of a guaranty system
on the character of banking would be such
that the losses arising from recklessness
wuiuu a-reauy increase, and the tax must
Increase to meet the losses on every bank
in proportion. Instead of loss equal to one-twenty-sixth
of I per cent annually. It would
rapidly Increase In every financial strin
gency. Tempt Speculators Into Banking.
Two objections are mde to the conclusion
that an enforced guaranty system wouid
lead to recklessness and disaster in bank
ing. One is triat the Government examina
tions would prevent It, and the other Is that
It is an insult to the banking community
to assume that the National bankers of this
country, in view of their present high
character, would yield to the temptation
to recklessness presented by the system. I
answer to the tirst objection that the Gov
ernment examinations do not now prevent
banks from falling; that It is difficult for
a bank examiner to discover the unwise
reckless and speculative loans, and that
often cuch loans are made between the
Government examinations and then the evil
Is done and cannot be remedied by strict
supervision. Second, while I fully concede
the general high character of the bankers
throughout this country, my point is that
the opportunity to obtain deposits and In
vest them on very little capital afforded by
the guaranty security will attract into the
banking business men of no experience and
of speculative tendencies and will distinctly
lower the tone of the banking business.
Voluntary Guaranty System.
It has been said by Mr. Br van that the
Republicans of Kansas by adopting a plank
in favor of a kind of guaranty of deposits
rebuke me for my opposition to the plan
outlined in the Democratic platform This
Is entirely Inaccurate. The Republicans of
Kansas have recommended the passage of
a law by which banks if they choose, may
enter into arrangements with other banks
by which they shall all be subject to an
assessment to pay the loss to depositors in
any bank In the agreement. It is the vol
untary feature of the Kansas proposal that
makes the radical difference between it
and that of the Democratic platform It is
entirely conceivable that banks in the same
neighborhood and within the observation of
each other rrfay pi oil t ably and safelv ac
cept and guarantee the security of all for
the benefit of each, especially when they
can select their partners.
Will Not Prevent Panics.
One of the great merits claimed for the
enforced guaranty of deposits Is that it will
prevent panics. It Is sufficient to say that
the plan proposed cannot prevent panics.
A panic Is not stayed by the promise that
money will ultimately be forthcoming It
can only be stayed by the production of
money itself. When a financial stringency
is on. It is the caah the man needs, and to
say that he will get It next week certainly
does not assist htm. No one who has heard
that his bank was going to fail will delay
In Immediately applying for his money
merely because be is assured that at some
th-ne In the future he wilt get it. Therefore,
the system could not stay the panics unless
tUa funds were large enough to enable the
banks to pay all of tnelr depositors at
the time of the run. A tax ia proportioned
only to the loss sustained after liquidation
and payment, so that the funds would be
utterly inadequate to meet the demand for
ready money which would prevent a panic.
The total deposits of the National banks
are $5,000,000,000. One-half of 1 per cent
upon that, and this is a much larger per
centage than proposed, would make a fund
of $"3,000,000. The amount of money that
was needed to stay th late panic in New
York banks alone was many times this sum.
In other words, the cash needed to stav a
panic it is impossible to accumulate In any
other way except by such emergency meas
ure as is provided in the Aldrich-Vreeland
bill. In which banks are givn an oppor
tunity, upon proper security, to Issue $500.
000.000 to meet such an emergency, and are
prevented from over-Issuing by the imposi
tion of the heavy tax of 6 per cent.
Would Kill State Banks.
The proposed guaranty plan also invites
the co-operation of state banks and pro
puses that they shall have an opportunity
to come into the same guaranty. The prac
tical objections and difficulties do not
frighten Mr. Bryan at all. He pays no at
tention to the difference between state
hanks and National banks, or to the fact
that state banks are authorized to lend
money on peal estate, whereas National
banks are prevented from so doing. The
difference In the business and the tying up
of assets between the systems is radical.
It would be Imposible to bring in the state
banks without making the supervision of
them as strict as on the National banks,
and If that supervision Is to be strict. It
must be under National auspices, and there
fore In effect they must become National
banks. This will entirely destroy the sys
tern of state banks and will introduce Into
the National banking system trust com
panies aud savings banks.
Who GItc Security?
Mr. Bryan says that, as the Government
bas security for deposits in the banks, why
should not the Individual depositor have se
curity. The Government's deposits are usual
ly not a commercial matter, and they ars
usually passive deposits that are not checked
out every day. but are allowed to lis a long
time ia the bank. Ttas Government .is rich
enough and strong enough not to give de
posits to the bsnk. if It does not choose to.
and may keep them with entire security In
a safe of Its own. It only makes the de
posits, for the purpose of realising the pro
ceeds of taxes which are not immediately
necessary for the use of the Government and.
which It Is in the public interest to have de
posited. In order thst the mosey may go
back Into trade; but, as the Government
generally makes nothing out of the loan, ex
cept the benefit to the public juet stated,
and as the Government would be greatly em
barrassed bv inability to secure its money
when it needs It. and while the mosey is
the monev of all the people, the statutes re
quire such securitv, and the advantage to
the bsnk getting the money and the prestige
is such ae to make it worth while for the
bank to give securitv-; but if a bank were
miIm a viv baimi Mtv for all its deposits.
It wculd require the investment of all the
capital in securities and banking would cease
to be attractive to any one. But the exam
ple of the security for deposits does not Jus
tify the proposed system, because the Government-gets
Its security from the bank that
receives the deposit. It does not get Its
securitv from all the other banks in the
community and they are not required to fur
nish security for that which they do not con
trol or have custody of. which is the system
proposed by the Deroocratio party.
I think I have shown that the tendency of
the svstem proposed would be to destroy the
high character of the presest banking. This
Is not however, to be taken aa an argument
tiiat the security of depositors Is not a good
thing and Is not to be brought about aa fully
and perfectly as possible. It Is only to show
that the method here suggested is a plauel
ble, but sophistical method that will not
accomplish the purpose, but will ultimately
Increase the losses from bank failures.
The case of Oklahoma has been cited as an
Instance to Justify the Democratic platform.
The system has been In operation only since
March of this year. No panic or other
financial disturbance hast tested its efficiency.
The statement is made that the public has
so much confidence in the banks that the
deposits in the unsecured banks are running
down and the deposits in the secured banks
are running up. If my correspondents In
Oklahoma can be credited this increase of
deposits was due to the fact that gS.OOO.OOO
of the state money received from the Govern
ment for public school lands was removed
from the National banks and put in the state
banks operating upon the guaranty, which
would explain nearly ail the Increase in de
posits. The postal savings- bank system has
a guaranty bv the Government under circum
stances which Justify It, because U receives
and husbands the deposfta This guaranty
will, of course, attract deposits, but the in
terest fund Is so low that the usual resources
of savings banks will not be drawn away as
experience In all other countries ehowa The
Democratic platform proposes. If the guaranty
svstem cannot be put into force, then to
adopt the postal savings bank, as If the
guarantv system supplied the means met by
the postal savings banks. This Is entirely
ontrue. No enforced guaranty system will
supply what the postal saving banks will
upply.
"If I am elected, as I expect to be. I
shall have the greatest pleasure In pledg
ing in the uresence of this grand audi
ence all the energies and all the abilities
of which I am capable to continue me
Roosevelt policies: to make business
honest and to keen every man within the
law, be he humble or rich." was the cli
max of the speech he delivered to the
audience which nearly filled the Audi
torium at 9t. Paul.
Through a misunderstanding; the Taft
train was delayed in tho yards at St.
Paul one hour. This time was ultillzed
by the candidate In a private conference
with Frank B. KelloKC. the special at
torney in vthe trust prosecutions.
LONG LEASE ON IMPERIAL
METSCHAXS CLOSE CONTRACT
FOlt 25 YEARS.
Wilcox Annex, Now Under Construc
tion, Is Included In Deal Involv
ing High Rental.
One of the most important leases that
has been made in real estate or business
circles in months was closed yesterday,
when the Imperial Hotel Company, com
posed of Phil Metschan. Sr. and Jr.,
leased for a term of 25 years the Im
perial Hotel bulldingr, at Seventh and
Washington streets. The lease wm De
come operative June 1, 1911. the date of
the expiration of the present leaae.
Tho deal gives the Imperial Hotel Com
pany a lease on the hotel building; of
that name for the next quarter of a cen
tury, one of the biggest and longest
leases that has been let on Portland real
estate for a considerable time. The
building is owned by A. B. Steinbach and
Mrs. Elizabeth Wells.
The same company has also secured a
lease on the T. B. Wilcox building, now
under erection, at Seventh and Stark
streets1, adjoining on the north the Im
perial Hotel building. The lease on the
Wilcox building becomes operative on the
same date as the other lease.
The terms of the lease have been with
held, but the rental on the Imperial Ho
tel building will be Increased when the
new lease goes Into effect. The rental
now Is K00O a month.
When the Wilcox building annex la
completed It will be nine stories in
height, and the Imperial Hotel Company
declares that It will have the largest
hotel in the city. There will be 304
rooms in the two buildings, which will
be used as one.
There will be one entrance on Seventh
street, where the lobby will also be lo
cated. The Washington-street entrance,
that is now used as a lobby, will be
used for commercial purposes. The Im
perial Hotel Company has occupied the
present hotel building for the past 10
years.
Negotiations In connection with closing
the deal were conducted by wire and
cable with Phil Metschan. Sr., who Is
now in Europe.
ADMITS LETTER
. IS NOT GENUINE
The inscriptions on sn old coin which
bns been worn smooth may be often de-HphredbyTlalnj
Writer of Alleged Cleveland
Article in Times Con
fesses Fraud.
FLEECED PAPER FOR $650
Agreed AVlth Executor of cx-Presi-demfs
Estate to Pay 300 for
Use of Jtter Before
Truth Came Out.
XEff YORK, Sept. 26. Broughton Bran
denburg, who sold the New York Times
a political article which he said had been
dictated and signed by Grover Cleveland,
and which he said was the first of a
aeries of such articles which Cleveland
had arranged with him to write shortly
before Cleveland's death, today admitted
that Cleveland did not either write the
article or dictate it as it appeared in
print.
The article bore on the present Presi
dential campaign in a way to discredit
the Democracy, and It la made a good Re
publican campaign document, and many
calls for copies of it came from various
parts of the country. The Times, before
publishing It last month, inquired of F.'S.
Hastings. Cleveland's executor, as to its
authenticity. Hastings pronounced the
signature genuine, and expressed the be
lief that It contained Cleveland's senti
ments. Not until yesterday did he chanire
his mind. After consultation with ex-Secretary
of the Treasury John G. Carlisle
he declared the signature and article
spurious.
Brandenburg Bold the article for J650,
and agreed last month to give the exe
cutor of Cleveland's estate $500 out of this
sum.
EXECUTOR HASTINGS MISLEADS
Told National .Committee Cleveland
Letter Was Genuine.
NEW YORK. Sept. 2. Chairman
Hitchcock, of the Republican National
Committee, said today that Charles H.
Keating, of Ohio, will act in the place of
T. Coleman Dupont, who resigned yester
day from the executive committee of the
National committee. No permanent suc
cessor to Mr. Dupont will be named be
fore next week.
Mr. Hitchcock reiterated his former
statement that he knew nothing whatever
concerning the rumored resignation of
Treasurer Sheldon.
The denial of the authenticity of an
article claimed to have been written by
Grover Cleveland and published In the
New York Times caused considerable dis
cussion at Republican headquarters. R.
L. Oulahan, In charge of the literary bu
reau of the Republican National Commit
tee, made the following statement on the
subject:
"Mr. Hastings, execntor if the" Cleve
land estate, told me two days ago that
he was convinced that the letter was gen
uine. This was after the authenticity of
the letter had been questioned. Now he
comes out and says he believes It was not
authoritative. Consequently, as far as
the Republican National Committee is
concerned, no further attention will be
given to the document."
The rt!choke Is the cultivated form of
the wild cardoon. Indigenous to Maderla,
the Canaries, Morocco, the south of France.
Spain, Italy and the Mediterranean Islands.
PLAYER PIANOS GREAT
PROGRESS MADE
The old-fashioned mechanical devices
for playing the piano created much In
terest. Improvements were made and
some of these makes have been highly
advertised.
Some people are today buying these
makes of player pianos without having
investigated the new. modern and su
perior makes. The A. B. Chase Com
pany, of Norwalk, Ohio, has created a
new Instrument, the "Artlstano." It
plays human-like, and is free from the
mechanical pounding, grinding effects.
The A. B. Chase Artlstano player is a
step in advance of all other attempts
and has been described as the "musl
cianly player." Expert pianists have
been unable to distinguish between this
and manual playing.
Tf vou are at all Interested in player
pianos It will be worth while for you
to visit the house of Sherman, Clay &
Co. and ask to see our new Improved
plavers. Come to inspect and remain to
enjoy the music, and you will readily
acknowledge the superiority of these
instruments.
SHERMAN, CLAT & CO..
Sixth and Morrison, Opposite Postofflce.
The "Insides " of a
Selz Royal Blue Shoe
The parts you can't see in a
shoe are just as important as
any parts of it the inner soles,
the counters, the parts that help
or lessen the wear.
It's an easy way for makers to
cheat in shoes, and even experts
cant see the fraud
after the shoe is made.
You never have any
doubt about a Selz
Royal Blue shoe; they
are not cheapened by
poor materials in any way.
Selz Royal Blue
$3.50, $4.00 $5.00
Seventh and
Washington
The
Most
in
Value
Goods Promptly Delivered. Mall Orders Carefully Filled
The
Best
in
Quality
A SPECIAL SALE OF
SEASO
SE
NABLE MERGHANDI
The coming week at this store will surely prove to be one of the busiest weeks in the history of this store,
for the series of sales arranged are, from every viewpoint, the most attractive we've ever organized. Every
rienartment in tho Ktnra will nartir.ina.te. ajid there will be attractions for every member of the family. In
volved in this sale are the choicest of this season's new-goods, bought by us under unusually favorable cir
cumstances, enabling ns to quote prices unusually low in every case lower than goods of like quality, styles
and all-round desirableness can b.e purchased outside this store.
These Are a Few ot the Specials for Tomorrow and Tuesday
SPECIAL SALE OF SILKS AND DRESS GOODS
Tou Can't Equal These Values Elsewhere in the City-
There will be a great rush for these
values, for unquestionably these of
ferings are exceptionally attractive,
and most women will realize that they
are. If. you wish the first choice of
the most fashionable fabrics at tempt
ingly low prices, no more favorable
opportunity will come your way
Up-to-Date Dress Fabrics, Especially Priced $1'
FASHION'S LATEST FANCIES IN DRESS GOODS.
The woman who is planning what that Fall suit or party dress for the'eom
inr social season is to be will receive helpful inspirations by the score in our
dress goods department. No more desirable weaves and novelties have left
fashion's looms this season than these beautiful fabrics our shelves and
counters are loaded with, and there's no time like the present for a choice.
52-inch Chevrons (English)
50-inch shadow stripe Taffetas
46-inch Herringbone Serges
48-inch wide wale Serges
46-inch English Diagonals
45- inch satin striped Prunellas
46- inch novelty striped Cheviots
45-inch fancy Worsteds
50-inch Broadcloths
45-inch swivel striped Serges
Unmatchable Values, Specially Priced, yard
NEW CREPES AT $1.00-
A showing of 23-iii. Persian Crepe
and Cheney Bros.' new griss-eyed
Crepe in a great assortment of
new. correct designs. Very choice,
exclusive styles in the new maize,
lavender, ciel blue, pink, ' cham
pagne and nile green combina
tions. Especially priced for Mon
day, and
Tuesday...
$1.00
' NEW FALL DRESS GOODS
SPECIALLY PRICED.
A great showing of colored woolen
materials, including Read's cele
brated serges, the best and most
durable material made.extra heavy
weight, brilliant finish, in colors
navy, brown, green, red, cream and
black. Four qualities to choose
from:
44-inch Serges, special at.. T5
46-inch Serges, special at.. $1.00
. . . . One Dollar
KERSEY CLOAKING,
$2.50 GRADE, $2,001
A special showing of 56-inch Eng
lish Kersey Cloaking, made of the
purest wool, colors absolutely
fast, good double weight, satin
finish. It comes in solid colors in
marine and navy blue, seal brown,
scarlet, cardinal, maroon, myrtle
and black. Regular $2.50 grade,
special for this
sale. .'
$2.00
50-inch Serges, special at.. $1.25
54-inch Serges, special at. .$1.50
NEW SCARF MATERIALS AT 75
An offering of new. scarf materials in 21-inch Pompadour, Crepe de Chine, tinted grounds of pink, light
blue, lavender and white, with rich floral designs; clever new creations, at, yard -"TO?"
A Timely Sale of Bedding"
, . SHEETS, PILLOW OASES AND SPREADS, COMFORTERS AND BLANKETS
.How are you supplied with bedding? If you are In need of anything in this line, you surely won't let
such a money-saving opportunity slip by without profiting by it. We bought these goods early in the
Summer paid Summer prices didn't wait until the regular buying season. So it is thus that we are in
a position to offer such seasonable bargains.
COTTON BLANKETS PRICED FROM 50c to $2.25
A full and complete line' to choose from, in all
weights, sizes and colors. Prices and qualities that
will suit all.
WOOL BLANKETS PRICED FROM $2.90 to $15
Our stock of woolen Blankets this season has been
selected from the best mills in the country, and, no
matter what your blanket wants may be, you are
sure to find here just what you wish, and at a saving.
COTTON COMFORTERS FROM $1.00 UP TO $6.00
This is by far the largest and best assortment of
Comforters, we have ever shown. Qualities, designs,
colorings and prices are all that could be desired.
FEATHER PILLOWS PRICED FROM 50c to $3.25
Nice, clean, sanitary Feather Pillows, in all sizes
and weights, covered with both striped and art
ticking. The best values we have ever offered.
WHITE BEDSPREADS.
AT $1.00 Full-size white crochet Bedspreads of
good wearing quality; they come in a large variety
of neat designs, all ready hemmed. Exceptional
value at this price.
AT $1.48 Full-size white crochet Bedspreads of
extra heavy quality; they come in a full assortment,
of Marseilles patterns. Regular $1.75 value.
AT $1.85 Colored Bedspreads of extra heavy
quality, made with cut corners and finished with
fringe. Especially suitable for iron beds, full dou
ble size. Regular $2.25 value.
AT $1.95 Light blue Bedspreads of excellent
quality, made full double size, finished with neat
hem, new and desirable patterns. Reg. $2.75 value.
AT 55 White crochet Bedspreads of good size
and quality, 72x81 inches, neat patterns, finished
with wide hem. Regular 75c value.
Sheets and Pillow Cases
AT 12y2tf Bleached Pillow Mus
lin of excellent wearing quality,
full 45 in. wide. Reg. 17c grade.
AT 12M? Pillow Cases 45x36
inches, made of linen-finished muslin.
AT 54 Full bleached, linen
finished Sheets of extra heavy
quality, full double size, 72x90 in.
The same quality, 81x90 inches,
priced for this sale at 59.
AT 50t Bleached Sheets of
good size, 81x90 inches, made of
strong, durable mnslin. Regular
65c value.
AT 10 Pillow Cases, 42x36
in., made of good, durable muslin.
Silk Waistings at 75c ITard
An unusually beautiful assortment of fancy silks for waists in all the new popular shades and very latest
styles, including taffetas, louisines, messalines, etc., in neat broken checks, black checks, shadow checks
Pekin stripes, novelty stripes, fancy plaids., Scotch plaids, etc. Nothing the silk' department offers is more
attractive or more thoroughly practical for all-season wear than these pretty silk waistings. We.
Regular $1.00 and $1.25 values, specially priced for this sale Monday and Tuesday OC
NEW FALL SILKS AT $1.50.
Silks away down in price. That's the special word
from 'the silk counter for Monday morning's sell
ing. A splendid selection, including such popular
silks as novelty messalines and print warp, louis
ines, in Persian plaids, rich Egyptian designs in
the new shades electric blue, smoke gray, bur
gundy red, new tans, olive green, new rose, new
browns, navy blue, etc., etc. These are silks that
are in vogue for now and the coming Winter, and
will be shown in amazing abundance. Extraordi
narv value. , Special for Monday tf I K f
and" Tuesday. p J. VT
NOVELTY SILKS AT $1.00.
An extraordinary offering of 20 to 22-inch novelty
. messalines, swivel striped Iouisines, Persian and
print warp, fancy shadow stripe and chevron
satins, novelty messalines in herringbone weaves,
phantom stripes, etc., etc., in all the new populaj
Fall and Winter colorings of oxblood, burgundy,
smoke gray, elephant, peacock blue, mauve, tan,
royal blue, olive green, leather, garnet, Copen
hagen, etc., etc. These are the naw, soft, clinging
fabrics. You will buy silks tomorrow, and from
these, if you've a want, for now or the near fu
ture. Exceptionally low value. C1 ff
Priced for this sale ? Vllf
ill
ii m m
1 vTS ' i
Fall Models ,
R. 8z G. Corsets
POPULARLY PRICED FROM
3J..UU io o.uu
We are showing all tte latest Fall
models in the R. & G. Corsets,
'!! made of extra fine quality coutil
and trimmed with French lace.
These popular corsets emphasize
the style and fit of the most fash
ionable gown. Being made in stridt
taccord with the very latest require-
Jments of Parisian fashion, they
make it easy to secure the perfect
stylish effects impossible with any
other ready-to-wear corset.
These Splendid Values
IN THE MEN'S SECTION
For this sale we have arranged many exceptional
values in both men's and boys' wear, only a few
of which are mentioned here:
MEN'S FLANNEL SHIRTS AT $1.49
A special offering of men's French Flannel Shirts,
made with soft button-down collar, felled seams,
and come in gray, fancy checks and stripes and
light and dark colorings. The J? "I A. O
.best $2 values; special sale price. .
MEN'S COAT SWEATERS AT $1.69
A special offering of men's Coat Sweaters made with
fine rib'd cuffs, 2 pockets, and trimmed with large
pearl buttons; they come in plain oxford, gray,
navy blue trimmed in gray, and oxford and gray
trimmed in red. All sizes; best C"J f(i
$2 values, special for this sale w v J
P