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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Aug. 16, 1914)
THE SUNDAY OREGOXIAN. PORTLAND, AUGUST 16, 1914. 12 5 , h it FINANCIAL STRONGES STATUS T EVER f j A. L. Mills, Portland Banker, Shows Clearly How Coun try Is Prospering Today. I JOBBERS HEAR ADDRESS ' One of Most Important Features of Buyers' Week Is Financier's ;' Iradd Explanation of How Im ; possible Is Panic In Future. T : i t ! Strongly optimistic and reassuring-. I I bristling: with potent fact and clear t i logic, the Bpeech ot A. L Mills, presl ; ! dent of the First National Bank, before t the business men and women of the - . Pacific Northwest at the banquet glv J ? n hv tha Jobbers' and Manufacturers' 'Association at the Commercial Club 5 Friday night, was one of the most slg- ,nlf leant events of Buyers' Week, t 1 Dealing Intimately with the financial Conditions of the United States, partlc J ularly with reference to the effect that . . the European war might De expectea i to have on them, Mr. Mills assured his ( bearers that with present National cur. rency legislation in effect, the possi- 4 . bllities of a panic are nil. " There would be no gold shortage, he fx said, because America has 2H times as - ' much gold on hand as any other eoun- " try and can meet the world's demands , xor goia wliuuui einuarmaaiiiouu ' Financial Sitnatloo Sound, t i Nationally and locally, Mr. Mills de ; iclared the financial situation to be : sound, and the question of disposing of the present bumper crop ne resoivea : I into the simple proposition that Europe J i needs our foodstuffs vand must pay for . Uhem. S ; "Financial conditions have never S I been sounder since our Government was I " established," he said, and when he had t ; concluded his address the 300 people . who had come to Portland from all f parts of Portland's territory arose and V ; extended him an ovation. 3 ; The text of Mr. Mills' address fol- X ;lows: ? On Wednesday your committee honored me - with an invitation to speak to you tonight J .on the existing and future financial condi l ' tlors In the United States. . ? There Is not time tonight, nor perhaps is ' 1 there Inclination on your part, to listen to j ;tn exhaustive economic discussion of Amer- -lean finance: at best only the most striking S 'features of the situation can be touched upon. i Certain facts and beyond peradventure the most Important ones In the considera .m -tlon of our present financial conditions, and J .which must be Indelibly Impressed upon the -mind of every business man in these United .-States are: r First That financial conditions In our country today are sound and at no time r since our Government was established were - ' they ever In a sounder condition than they .' are at this moment. No Danger of Panic Seen. Second And let this sink deep Into your understanding there Is absolutely no danger i t today of a financial panic sweeping across Z this country such as all of us have seen in - times gone by. nor, indeed, shall you or 1 I 'ever again witness In this country such i " panic conditions as prevailed in 1907 or 1803 - 'sr. Indeed, In other panic years. These are 1 cold, hard facts and not the rosy dream of f some visionary student of political economy; i ' facts that are established truths in the i ; minds of financiers of established reputa I tion and facts that should and must be . equally well established In your mind and in the mind of every business man in these i ! United States. - Let me repeat them, for they cannot be -,- reiterated too often: First, these United '' fitates were never in a sounder financial t . condition than they are today: second, there 1 " Is no danger of financial panic today, nor ,i " shall we ever again see such panics as we ; have in the past. - v Take these statements of facts home with J you. mull over them, make them a part and , parcel of your daily financial creed, and '1 then Join with other loyal, patriotic clti-.-- J sen in preaching to your neighbors the j sjosDel of faith ,in our country's institutions j. i and the absolute soundness of Its present f financial system. y Aye. this and more, yon and I and all of r ' us should do combat with all the power 'j '' and force that Is within us the dismal croak. t " Ings of the confirmed pessimist who, when- 1 ever there Is the smallest cloud In the sky, '( s believes that the sun will never shine again. - ijuch calamltr howlers are pests In society. 2 ' of value neither to themselves nor to oth- j ers. but rather they are a drag upon the 1 i wheels of our Nation's progress. "i , Pardon this digression, but there should i not be even standing room for the pessl 1 mist In this great country of ours. 3 Why should the. best financial minds In eur country believe financial conditions ' I never sounder than they are today? s ; First, because in these United States there - ; Is $1,500,000,000 of gold, a supply roughly .two and a half times greater than that of ilany other country; an . amount more than i sufficient to transact the business of this country; when treated scientifically as a re- 1 serve against currency ssues It Is sufficient & ' to carry a burden of currency 00 times ;; ; greater than we now have, without endan- i gering our maintenance of a gold standard. " ' Take for example the panic of 1907. when i England had but 400,OfcO,000 of gold and yet t ao perfect was England's financial system t i that It parted with one-half of this supply ' to this country without shaking the finan "i " cial fabric of Great Britain. Our supply of :I i gold today Is nearly four times larger than ' that of Great Britain in 1907 and should i. with ease carry all the burdens of com jj" .1 merce that may be put upon it. System's Strength enown. c .i Tha eir.T. pti nf our financial evs. "tem today Is shown by the ease with which we parted with $100,000,000 of gold In the first five months of this year and S4S.000.000 more during the month of July, without disturbing one lota our finances. At no . ' previous date In the history of our country have we exported a like amount of gold In -' so short a time: to have done so In years i- gone by would have rocked every financial - Institution In the country to its foundation . and probably brought ruin to many. Today not one has been disturbed by such a heavy '" 'exportation of the precious metal; nay. more, financial leaders say so good and sound is our condition that another $100,000,000 could have gone abroad without perceptibly affect 2: "-tog conditions. , - Third Because the New York Stock Ex change, against which so many of our peo . pie exclaim, was kept open for days after very organixed stock exchange In the world had closed: yet by so doing was able- to ab sorb, without panic or disaster, the Im mense flood of securltla poured upon us by the panic-stricken peoples of Europe. Such ' Btablity of our financial institutions, for in ' the end the burden was cast upon them. - makes it but the Question of a few years before New York becomes the recognized I T" financial center of the world. Fourth Because today we have established In this country, and soon to be In full opera tion, a scientific financial system that is ca pable of withstanding any strain or stress - that may be brought upon it. These are the reasons why our praotlcal financiers believe our financial conditions "T": never sounder than they are today. -' Ivt me repeat them, for they are worth "Fl'rftnf billion, five hundred millions of rold on hand In these United States, an - amount capable of supporting a currency .-system 50 timet, at least, greater than is "A ""secondThe ease with which we witb atood a drain, within six months, of one buntreS Ind forty-eight and the ability to withstand a further drain of one hundred millions. " ThirdThe remarkable strength of the jfew York Stock Exchange to absorb vast " ouantltie of our securities without making Uny perceptible strain upon our financial lnFouUr-Th. establishment of a -elentUIc A and economic system, the equal of any in ThTw'tre the reasons why financial oon- dltlomT are sound today In this country. ' Practical economists belter In them; bank rsworYby of the name of bankers believe . . rVw. i. Kr,. remains to drive this belief home to every business man In the country to still forever the pessimist who now oe us asd dowalhe land mournfully j croaklns about impending panics and by mo doing disturbing business ana spreaamg un rM whKraVpr ha soes. After what has Just been said do you ask further why there Is no danger of a finan cial, panic today and why we shall never again have-such an one as we nave expert' no in bn Tl&Bt? It needs but a word in answer: Due. in the first olace.' to work done by the Aldrlch Piirrpncv 4Tommlslon. and. later, to' the crystallization of that work in the Federal reserve act, we now have a sound' economic system that makes any serious iinancia. panlo an utter impossibility. Tight money we may have in future, commercial depres sions we must and shall have whenever speculation exceeds the bounds ot prudence, but financial panics never again. Local Conditions Viewed. So much for the financial conditions of the present and the future. Now a word or two concerning our local conditions and how I believe the European war will affect busi ness interests in the Northwest. We ar now harvesting one of the most bountiful crops with which the Northwest was ever blessed; a crop that Europe and especially England muu have In order that their peoples shall not starve. This crop they must pay for, no matter what the cost may be. England appreciates this fact and la bending every effort to compass its safe transportation. The British government itself has announced that It will insure the shipper and owner against any loss occa sioned by the European war, ana n urn r main fm. mir International bankers to per feet arrangements for negotiating the bills of exchange drawn against tneae cargoes u that they may be converted ,lnto cash In New York. This, I firmly believe, will be consummated within the next two or three weeks. When accomplished the question of exporting our grain Is solved and with the solution will come a flow of English gold to our country in greater volumes than we have ever witnessed before a volume so great as materially to stimulate every uui ness enterprise within mis country. In the meantime, however, for the next two or three weeks, there will be unrest and fear and excitement. It therefore devolves upon us all to practice patience and main tain our courage, for there la nothing to fear In the future. What Is true of our wheat crop Is true in like measure of our meat, hops and other products. Your grouchy pessimist, ever seeking for fresh causes to whine about, is going up and down our streets saying doubtless It may be true that Europe needs our crops, but, nevertheless, If they cannot be shipped In safety from our porta they are of no value to us. This Is utterly false, as I have attempted to show you. for England must have our grain and is prepared to pay the price and bear the burden of the war risks. That England Is amply able to do this Is shown by the fact that when the European war first broke out as a first protection against a business excitement the Bank of England raised its rate of discount to 8 and then so 10 per cent and declared a few days bank holiday. When it was seen by Eng lish financiers that there waa no need for undue alarm the Bank of England's rate of discount fell ranldly to 6 per cent, and then to 6 per cent, and, I believe, today Is A V4 per cent. This rate, although somewhat hiih.r than normal, is not an unusual one at this time of year nor one that Is in any way a bar to commercial transactions. It means that the merchants and bankers of London of worthy standing .can discount their paper and their commodity bills at u..nini. ratrta of interest. Such being the case and with transportation rendered safe, there Is uractlcally nothing to hinder our exports freely going abroad. I confident!? believe that within a month our foreign ex port trade will again be on a comparative, normal basis, or at least on such a basis, as rti-ill permit foreign business to be trans acted by this country at a handsome profit. Country Needs Faith. We bankers have before us a few weeks of eomewhat difficult financing. Harvest hr,ri in the fields must be paid in cash and also the cost of transporting our crops to the seaboard. It can be done and will be done with comparative ease if the busi ness people of the country have faith in our institutions, supplemented by a mod erate amount of patience. In 1907 I should not have dared to have spoken so confidently concerning this situ ation, as at tnat time wo wet o iuu.ub iinil.r an antlauated and archaic system of finance that was utterly Incapable of ex panding with the needs .of commerce. Thanks, however, to the Aldrlch-Vreeland currency bill that was passed in 1908 and extended by the present Congress, it be comes possible for the banks of the coun try to Join together In currency associations and obtain issues of currency for which Uncle Sam" acts as the reaemption agenu The limit of this currency was first put at five hundred millions, but witnin tno past few days this limit has been aken off and the Secretary of the Treasury, Mr. Mc- Adoo, is permitted In nia aiscretion w jiw this issue to be put out in an unlimited amount. Such currency associations nu been formed in New York ana unicago, nu, r i- 1 1-.-- in nth., in rpH f.n t nr.s. Already the strain upon the financial institutions of those centers has been so materially lessened ,,. rerent telegrams from those points state that business again Is proceeding nor- It Is not believed by the bankers of Port land that it will be necessary to Issue any Vreeland currency in the Northwest since our correspondents in the East assure us they can forward ns an ample supply of currency from their associations without dif ficulty. Nevertheless, the Portland Clear-lng-House believes it to bo the better part of wisdom to perfect such an organization in Oregon. Steps to that end have been taken. . . .' Incidentally. It may be or interest to you to know that such currency association must have In it at least 10 National banks. Ith a combined capital ana surplus oi hi iast is ooaooo. The proposed rortiana association has a combined capital and sur plus of $8,800,000, by reason of which we are permitted to receive over $11,000,000 of Vreeland currency for which Uncle Sam becomes the responsible payer. This sounds like an Immense amount of easy money, but nevertheless there are restrictions placed about its Issuance that prevent an un healthy inflation. The banks of the asso ciation applying for any of this currency must hypothecate oonas or commercial p- maturing within o aays, or ium mnntha such security to be approved by the executive committee of the Currency Association and finally by the Treasurer of the United States. For the currency Issued to any bank in the association each and every bank in such association becomes re sponsible in proportion to Its capital and surplus. In addition, there is plaoed upon the issuance of the currency a tax at the rate of 8 oer cent per annum if the cur rency is outstanding three months, 4 per cent per annum for four months, and so on up to 6 per cent per annum If the currency remains unredeemed six months. Necessarily this will limit the unwise ana recaiess circu lation of such a currency. It Is needless to tell you tnat, snouiq tnc necessities of our commerce demand it, the Portland banks and their associates will not hesitate to take out all the currency needed for the purpose of facilitating the commerce of this section of the country. Neverthe less, such circulation will not be taken out unless the pressure for its use becomes in very great measure more severe than it is today. It places a liability upon each and every bank in the association that bankers do not care to undertake unnecessarily, and Is Issued at a cost that must eventually be come a severe burden on the community. "Go Slow," Is Slogan. One moving cause for the belief of the Portland bankers that we should go slow in' issuing the Vreeland currency is the fact that the Federal Reserve act shortly will be put in operation. The Federal Reserve Board has now been organized, and . they are pushing forward rapidly the organiza tion of the 12 district reserve banks. It is stated that by October 1 these banks will be in operation. If so, it will easily solve any existing financial troubles and be far less expensive to the borrowers. Aa you know, the reserve bank of this district will be located in San Francisco, but we are using every effort to -have a branch estab lished In Portland at as early a moment as the parent institution in San Francisco will permit. Should, however, the establishment of the branch bank be delayed more than is ex pected nevertheless we shall be able, possi bly at some inconvenience, to transact our business directly with the San Francisco bank. Incidentally I wish to call the attention of the business men of the community to one change that will ensue in our method of doing business after thle bank is estab lished: Commercial paper proper for dis count at the reserve bank must have a fixed date of maturity, and Interest must be taken out In advance. It is within the possi bilities that when the reserve bank Is In operation a member bank will be able to Lflllt) SHOW MEETS WIDE INDORSEMENT Four Governors Among Prom .Rent Men Who Agree to Act on Advisory Board. MORE SPACE IS ALLOTTED lectures and Talks of Educational Xaturo to Bo Special Feature of ExposUton Building; Estimates) Invited!.. M exhibit space for the Manufac turers' and Land Products Show was disposed of last week and reservations DIRECTORS OF BABY CONTEST TO BE HELD IN CONNECTION WITH LAND .rxlUJJUUia anuiv. I. 1 ; liquidate every dollar of its commercial paper, provided such paper la of the proper character. That means that a properly conducted member bank cannot suspend or fall. Now the future! I should say that the next year or two will see in Oregon and the United States generally, due to the mlBfortunes of others, such prosperous con ditions as never before have prevailed. In the end, however, we cannot have suoh an enormous economic waste as this great European war seems likely to cause with out materially affecting the ability of those nations to purchase our exports. It Is as If you had a country customer whose stock of goods was destroyed by fire and who wired you to replace the same at any price. You might make a handsome profit on the first shipments, but thereafter the country storekeeper would be so crippled that his purchases for some time to come would be materially lessened. So it seems to me will be the case with the nations of the world. The great nations of Europe, by the destruction of life and property, will be reduced to such poverty that they will not be able te buy the goods we have to sell. The result necessarily will be stagnation and depression in business. On the other hand, as an offset to this forecast of the distant future, is the fact that by the war loss that comes to European nations there will be open to our enterprise the vest commerce of South America that now Is tributary to Europe. This should and will be diverted to our ports provided our merchants are alive to their opportunities. This commerce may, in great measure, off set the loss of European business. Then again may come to our country an other great and valuable gain in the re establlshment of our merchant marine. Prior to 1861 the American marine was the equal if not the superior of any marine service in the world, but the Civil War de stroyed it. By the repeal of our antiquated shipping laws that have stunted the growth of our merchant marine an opportunity comes to us that will be of untold value if properly availed of. When an American can buy ships where he pleases and sail them under our flag and man and officer them with whom he pleases we shall be on a parity with the other nations of the world, and. Indeed, with our enterprise .should surpass all other nations. In conclusion, let me beg of you to be of good cheer. Financial conditions are sound and will remain so. The prospects for a period of prosperity in the near future are bright, and it but remains for you business men to make the best of the opportunities that will present themselves to you In the near future in order to reap a bountiful harvest for your efforts. Good luck to each and all of you. Farm Suffers $5000 I'ire lxss. GRANTS PASS, Or.. Aug. 15. (Spe cial.) Fire last night destroyed three buildings, a sawmill, hay shed and 60 tons of hay belonging: to the Leonard Orchard Company at Kiver Bank farm. The loss is $5000, fully covered by in- surance. were made by prominent organizations and individual firms. From 12 to 16 acceptances were re ceived to serve as members of the hon orary advisory board. They included that of -Governor West. Acceptances have been received from the following: Dr. Andrew j. suiiuk James B. Kerr, C. C. Colt, A. D. Charl ton, Charles T. Early, Hood River; A. L. Mills, M. G. Munly, Horace D. Ramsdell, John H. Burgard, C. E. nrhi.i.. nri f nT-H T-' vt Khenard. Hood River; John M. Haines, Governor of Idaho; J. E. Chilberg, Seattle, vvasn., A. H. Averlll, Charles F. Berg, Phil Lowengart, L. C. Gilman, Ernest Lis ter, Governor of Washington; R. H. Strong, Professor W. J. Kerr, Corval lis; J. C. Cooper, Independence; C. D. Minton, H. B. Middleton, William Spry, Governor of Utah; Hiram John son, Governor of California; P. Zeld man,' M. B, McFail, Jacob Kanzler, John nr o tr n mil Mavnr of Seattle; Mark A. Mayer, J. A. Malley, George - tt ii irninmnnlrl Li Baker, itussen nawmiia, , John S. Seed, Tom Richardson. Theo dore B. Wilcor, W. H. Merriman. C. C. Chapman, E. C. Roberts, Lebanon; George W. Warren, Warrenton; R. l-j Dunham. E. J. Jaeger, J. C. English and Curtis Vincent. Increasing Board to Be Urged. At the meeting of the executive com mittee this week Fresident David M. Dunne will recommend inviting. 25 more prominent men of Oregon to as sist in the success of the show by serv ing on the advisory board. This hoard will hold a meeting several weeks be fore the formal opening of the expo sition and will help arrange the open ing night programme. i KVr,minAnt oon tractors of tne Ottveiat yiuiH.uu. . city have been requested to submit estimates and plans tor me iciui'y structures on Eleventh and Davis streets, which will house exhibits of land products and the machinery, auto trucks and similar displays. A number of designs have been submitted for the interior decorating of the three buildings and also for the arches to lead from Washington str-et down Couch street to be illuminated at night. m. Amartnon T.ifVnerra.tyh Company, makers of Industrial films, have taken space and will also maae ana . in the lecture-rooms nims ui rn.." and Oregon manufacturing plants. ' Lectures to Be Feature. A special feature of the exposition will be lectures and talks of various kinds. There also will be musical events, such as band concerts ana sing ing, and two or three vaudeville acts. PORTLAND WOMAN ENTERTAINS PARTY OP FRIENDS AT THE OAKS AMUSEMENT PARK. r , , Back Row (Left to Right) Nerval Cashin, E. J. Cashlit. Secretary of the Hasrlvrood Company George S. Dnrsiid, J. M. Younger, Treasurer of The OslW) Joe Kraap. -William Burns. Joe Leggett. Second Row Mrs. Mary Hea mann, Mrs. Hugo Schmidt and Baby, Miss Holda Halone. Mrs. E. J. Cash In, Mra. J. M. Yonager, Miss EUa Simp, on, Mrs. M. E. Harmsen, Mra. Joe Leggett. Front Row Arise Chrlsman, Margaret Harmaon, Mercedes) Cashin, Winifred Mead and Marie Chrlsman. Mrs. J. M. Tounger entertained a number of friends at the Oaks Amusement Park last week at a social gathering and picnic, in honor of several out-of-town friends. Lunch was served under the trees and the members of the party werej escorted through, tha various amusement devices at tha n&rfc. Among the features of an educational nature will be several Illustrated talks on the minerals of the state by Charles H. Florey, of the United states tor. estry Service. Demonstrations of can ning by girls from Lane ana inn coun ties will be an interesting feature. Arrangements are being made to send two speakers to visit the granges and set before the people the educational features of the show. Professor L. M. Martin, of Nebraska, and Professor James Jrving Crabb are considered for the assignments. Almost every line of manufacturing products., including woolen goods, pa per goods, steel, iron, brass and metal products, woodenwares, pulp gooas. foods and cereals, are -to be exhibited The latest to come in is the printing. blankbook making, stationery and sim. ilar typographical lines. The firm of Sweeney, Barney & Straub obtained ex hibit space. The Portland Railway, Light Power Company signed contracts in creasing Its space in the land depart ment from 600 to 1500 square feet- Other space sold was to the Standard Crisp Company, the United States Bak' ery Company, the Altedena Fruit Com' pany and others. Tillamook ClrJaena to Come. The show management received a let ter from Rollie W. Watson, of Tilla mook, savins that on Tillamook County day the big County Boosters' Concert Band and a great delegation oi cm zens would attend the show. The State Miners' Association baa taken up the question of a possible ex hibit. The Retail Grocers" Association ap pointed a committee of five to confer with Manager Buckley In rtgard to a special night. All three Saturday afternoons will be devoted to the public schools. The sec ond Saturday will be known as High School day. The second Saturday and the last Saturday will be given over to lnterurban and suburban school days. The North Pacific Coast Passenger Association will meet at Aberdeen, Wash., August 18. and the matter of reduced passenger rates and charges for transporting exhibits will be Bet tied then. The Chamber of Commerce, at its meeting held August 14, adopted i resolution indorsing the show and urg ing its members to attend as many times as possible. The resolution espe cially calls attention to opening day, October 26, which has been assigned to the Chamber of Commerce as a speoial day for its members. COUNTER TAXI SUIT ON OREGON COMPANY CHARGED WITH "BOTTLING"' UNION DEPOT. Hendricks Bros, and Other Defendants in Flrat Action Demand $5000 Dam ages, Alleging Discrimination. In a lengthy answer to the suit filed against them by the Oregon Taxlcab Company, Hendricks Bros., an automo bile firm, and William Franklin, Wil liam Scanlon, Albert Gruman and B. F. Doan, the defendants, yesterday filed counter-charges and asked J6009 dam ages from the plaintiff. The defendants allege that the plain tiff company has meters which dls criminate in rates to different patrons and allege that the Oregon Taxlcab Company has attempted to stifle com- peltion and has "bottled up" the union depot to competing taxlcab companies. The complaint charges "that the plain tiff has entered into a conspiracy. which conspiracy has existed for a long term of years, between the plain tiff and the Northern Pacific Terminal ComDanv. certain hotels and the police department of the City of Portland for the purpose of stifling competition in the taxlcab business. 'And that the plaintiff, through this combination, sells tickets by agents traveling upon the trains for transpor tation on the taxicabs of the plaintiff. That in furtherance of the design of the plaintiff for the' throttling and destruction of all competition in the City of Portland the plaintiff has formed a conspiracy with one . yons, man ager of the Northern Pacific Terminal Cnmnanv. to prevent all taxicabs ex cept only the taxicabs of the plaintiff from doing business to ana irom tne Union depot "That the plaintiffs are discriminat ing against and in violation of ordl ,nA 11641 of the City of Portland and the defendants are denied the right to use the sidewalk running around and adjoining the Union depot, ati In cane the defendants attempt to niua the common and ordinary privileges that of right belong to, the rh-la nunlln in common iiiwj w th.-oaraneri with arrest bv the depot po licemen, wearing ytars and acting with the authority or ine'puni:o . tha citv of Portland. The defendants are being sued by the Oregon Taxlcab company, wnicn latter concern has adopted brown as the color. of their taxicabs and has ad- -.,,i thm i9 such to restrain them from continuing to operate machines of the same color, uircuii. juubo tens recently refused the Oregon com pany an injunction to restrain the de fendants from operating brown auto- Tha Oree-on company alleges that the defendants copied their color scheme to procure sumo ness. ' NEW SERVICE OFFERED COMMTJNICATION BETWEEN TELE PHONE COMPANIES IN EFFECT. anhvK,v of One Concern Can Reach Any City In Northwest If Rival Lines Ron In. - . A Trnm. T1 pnhnnfl sys rskruiiB vi- .- - - " V. Utr lr.no. H i H 1 3 Tl f- ft tern may now io.i j . any city in the Northwest connected with the Bell system, tne coun uw commanding this having gone into ef- lecv jreuiciuoj- Several hundred thousand telephones from British Columbia to Laiiiorms K-w tha aervlce. it is said. but all arrangements have been com pleted for the change. The decree es tablishing this new oruor v by Judge Bean, of the Federal court, following a suit instituted by the United States. m . , One hundred and fifty pairs of cables connecting the two offices have been laid and 30 dials on the long-distance board of the Bell exchange have been installed as a result of tne oraer. it now possible for a Home teiepnone is ia huw ivnoiw.w .v. subscriber to call long distance, and. if the town desired is not reacnea Dy me Home company, to have the call shlft- j ttaii A-vz-hn no-A. The Bell com et W HIP - -' pany can make similar use of the Home service, to towns wnere us unuo i Anew number, A-68, is announced by xrmA TAianhnnA Cnmnanv as the i . ...nnoo awltr-hhnard of the Pa cific States Telephone Company. to Public May Inspect Plans. Pinna and specifications for the Courthouse building were delivered to the County Commissioners yesterday for investigation by tne generat pud-n- ..j th, Tomn vprii' and Non-Par tisan leagues. The architects, Whldden & Lewis, requested that the plans and specifications be exhibited in the Court house for the inspection of the tax- payera. M jf i-J ?r To the Voting en and Women of Oregon Here ia a question of vilal im portance for your solution. A law proposed for the regula tion of the practice of dentistry in this state will be on the ballot at the November election. Under this new law, any capa ble, reputable dentist who is a graduate of a dental collegd of recognized standing can practice dentistry in Oregon by filing a copy of his diploma with the Sec retary of State, together with the affidavit of two citizens of the state, testifying to his good moral character. I present this law to tho voters of Oregon in the interest of a much-needed reform. In five days I secured 17,190 names to the petitions for this proposed new law. The law as it stands now is a menace to the pub lics welfare because it makes Czars of the board of dental examiners, who are the servile creatures of the ethical dental trust: Because this trust seeks to keep out of the state any dentists who will not join it in pilfering the public ; Because the ethical dental trust is trying to keep the public in ignorance as to the cost of dentistry and is charging the people exorbitant prices for a poor class -of work. When I came before the Oregon Dental Board for examination, the members of the board knew me and they deliberately denied me a license. They knew I would give the ethical dental trust the hard est competition it has ever had, and they thought that by branding me an incompetent and a "quack" they could drive me out of the state, as they have dones scores of other dentists. But I did not run. I determined to stay and fight. I am confident that I know as much dentistry as any member of the ethical dental trust, and I have forgotten more about dentistry than lots of them know. I am a graduate of the Philadelphia Dental College, one of the best known and second oldest dental school in America. I have practiced dentistry for nearly twenty-five years. I am now licensed to practice in the states of New York, Maine, Pennsylvania, Illinois, California and in Can ada. Do you believe that if I were incompetent and a "quack" that I could procure a license in these states? Doesn't that show 3'ou that I am a compe tent dentist and that the Oregon Dental Board is simply trying to destroy me because I won't join their so-called ethical clique t I have faith in the fair-mindedness of the people of Oregon. I don't believe they want to give special privileges to any clique or class of men. I charge the dental trust of Oregon with being an organization in restraint of trade, for the reason that it seeks to prevent competition and keeps other dentists out of the state; I charge it with being un-American, because it is opposed to fair play; I charge it with being a detriment to the public health, because it is using obsolete methods in the practice of dentistry and is breeding dangerous drug habits by using cocaine and arsenic. Four months ago I opened a dental office in the City of Portland, containing fourteen chairs. Soon thereafter I was compelled to put in two more, and now I am enlarging my office so that I can put in four additional chairs, making twenty in all. I have the largest practice of any dentist in Portland, and the ethical dental trust knew that I would soon have the largest practice here, because the samo thing ha.i resulted in every city in which I have established an office. That is the real reason why they wanted to put me out of business here. Every dentist in my office in Portland is a grad uate of experience and has been given a license to practice by thi3 Oregon board before it was known that they were a part of the Painless Parker organ ization. Nearly every one of them had to come hero as strangers to take the examination. If it had been known that they were to work for me, the board would have refused them a license, as it refused me a license. Do you believe that to make a success of your business is a crime? Should I be branded a quack and be run out. of Oregon simply because I am a successful dentist? If I have evolved newer and better methods of taking care of your teeth, should I not be entitled to do the work and should you not have an opportunity of having me do your work? If the ethical dental trust is a pood thing, why does it not come out in the open and show why and how it is a "good trust?" Calling me names and try ing to drive me out of the state doesn't prove any thing, nor does it show that the dental trust is a patriotic organization. I have established an office on the second floor of the Merchants Trust building, corner of Sixth and Washington streets. I have here competent and finely equipped dental specialists, who use the most scientific methods known to dentistry. Neither cocaine nor arsenic is used in my offices, yet all of our dentistry is done without pain. We give the be3t of dentistry at a reasonable price, and guaran tee our work to be satisfactory. It is up to the voters of Oregon to say whether this Oregon dental trust, which has control of the dental board of the state, shall be permitted to continue to brand capable dentists as quacks and charlatans and refuse them a license to practice ia this state. Think this over and vote right. Respectfully yours, PAINLESS PARKER, DENTIST. Sixth and Washington Streets, Portland, Oregon. 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