The Sunday Oregonian., April 18, 1915, Section One, Page 11, Image 11

THE SUNDAY OREGONIAX, PORTLAND, APRIL, 18, 1915.
II
FEDERAL BANKERS
PORTLAND GUESTS
Charles S. Hamlin, Governor
of Central Board, Ex
plains Operations.
THIRTY ATTEND LUNCHEON
11-0 .sent System Declared Equal of
.Any in Existence and "VVitU
. Public Understanding Great
(t Prosperity Is Predicted.
That the United States never again
were brought out strongly -when Great
Britain and other Kuropean nations
called upon us to meet our obligations
at the beginning- of the war. They
wanted sold and we organized im
mediately a $100,000,000 gold fund. The
banks throughout the country re
sponded quickly and when Europe saw
that we could supply her with gold,
the situation had been satisfactorily
met. Of the 105.000.000 that we owed
Kurope. we shipped only 10. 000.000 la
gold. In a similar way we came to
the rescue ot the, cotton growers in
the South.
Export Trade to Benefit.
"Through the Federal reserve banking-
system we will be able to take up
bills of exchange in the important
export trade. It will be one of the
factors to bring about a great foreign
trade. It will make the United States
the great center of financial exchanges
in the world.
"The act provides Tor the admission
of state banks and trust companies and
I believe that in a short time these
institutions will become members of the
system. When they once join they
never will want to get out. The Fed
eral reserve bankiner system has created
one -of the soundest financial systems
in the world and I believe that under
its operations the United States and
its people will prosper with untold pos
sibilities. Never apalrt can we have a
financial panic in the United States."
H. W. HOLMES TO BE
MR. CANTINE'S AIDE
Resignation as Special City
Engineer for Grade Crossing
Elimination Is Tendered.
IMPORTANT WORK IS DONE
New Duties Will Include Design and
Construction of Bridges and
Rein forced Concrete on
State's Highways.
Howard W. Holmes, formerly chlet
Pacific Branch Thriving.
Mr. Perrir reviewed the' proeress of
will face a money panic and as soon the reserve bank at San Francisco of the Municipal Bureau of Highways
as bankers and people of the Nation I during the first five months of its op- and Bridges, now special city engineer,
generally become familiar with the 1 eration. He said it was on a paying in charge of grade-crossing elimina-
FEDERAL RESERVE BANK OFFICIALS WHO WERE GUESTS OF PORTLAND BANKERS YESTERDAY.
Jenning Can Furnish Everything for Your Home
cmmr-.m
, mam M-zzjmm mm
. .
IF YOU are building a new home or
if you want new things for the old one, we can
Minnlv pvrv wanr frr cvpn; rnnm ar rrir a c nxr
"SI I. 11 ffJ " - --J f.v..., . ,
as you can find in the entire Northwest
You have the added advantage of select
ing from the very latest merchandise and
of our personal interest in satisfying you
in every respect. Our terms are liberal for
those who desire credit. We cordially
invite you to look through our stocks.
W e originate complete schemes for
the complete decoration of your
home. You receive the skilled serv
ices of our corps of expert designers
and decorators. Let us help you in
the beautifying of your home.
Charles S.
liamlln. (Governor of Feden
of Washington. li. C
il Reserve Board.
Joka Perrin, Chairman of Board of Directors of Reserve
Bank at San Kranclsco.
Another Big Rug Sale! Beginning Tomorrow
and Lasting Throughout the Week
$22.50 Axminster Rugs $15.75
A large assortment of $22.50 and $20 Axminster Floor
Rugs, size 8-3x 1 0-6. Lovely floral and Oriental patterns,
discontinued by the factory. For this wee at $15.75
$5 Axminster Rugs $3.45
Full 36x72 Axminsters in a variety of handsome patterns,
regularly priced $5 and $4.50. On sale this week. . .$3.45
Fancy Madras Curtains and Art Draperies for window dec
oration, regularly $2.50 to $1 5, on sale at HALF PRICE
Crex Grass Rugs
For the Summer living-room,
bedroom or
.porch. A large line of
new patterns from which
to select $1.50 Jo $10.
SPECIAL Good qual
ify inlaid linoleum, spe
cial, the yard, 75c.
SPECIAL Good qual
ity window shades, spe
cial, each, 30c.
Transform your porch into
a' delightful Summer room
by the use of the new Aer
olux Porch Shades. All
widths. Moderate prices.
The Second-and-Morrison-Street Store Presents Its Weekly Offering
of New Furniture Underpriced.
$17 Quartered Oak Princess
Dresser, 18x36 beveled French
plate mirror, beautiful design,
special $12.50
$12 Stickley Large F umed Quar
tered Oak Arm Rocker, with
Spanish leather auto seat, $7.25
$14 Stickley Fumed Quartered
Oak Arm Chair, with Spanish
leather auto seat and leather up
holstered back $7.85
$15 Stickley Fumed Quartered
Oak Arm Rocker, with Spanish
leather auto seat and leather up
holstered back $9.75
$32.50 Stickley Fumed Quar
tered Oak Settee, with Spanish
leather auto seat $19.75
$12 Iron Beds, with 2-inch con
tinuous posts and 7-inch fillers.
Vernis Martin or ivory . finish,
at ...Y $4.95
$12.50 Quartered Oak Buffet,
10x31 beveled French plate mir
ror, special $8.25
$13.50 Ash Buffet, 9x35 beveled
French plate mirror, sp'l $9.50
$18.50 Royal Oak Buffet, 17x30
beveled French plate mirror,
special $12.25
$25 Quartered Oak Buffet, gold
en wax finish, 10x36 beveled
French plate mirror, sp'l $14.60
$11.50 White Maple Dresser,
with beveled oval French plate
mirror, special $8.60
Henry Jenning Sr. Sons
Washington at Fifth Street
"The Home of Good Furniture
Morrison at Second Street
purposes and operations of the Federal
reserve banking system the country
"v 1 1 1 enjoy the greatest period of pros
perity is the conviction of Charles S.
Hamlin, governor of the Federal Ke
eerve Board, of Washington, L). C,
who was in Portland yesterday.
Air. Hamlin was accompanied on his
tour o the Northwest by John Perrin,
chairmau of the board of directors of
the Federal Reserve Bank at Ban Fran
cisco. They passed about six hours in
Portland and. between enjoying the
hospitality of Portland bankers and
viewing beauties about the city, they
were favorably impressed with what
they saw and learned of Portland and
Oregon durinff their brief stay.
They arrived in- tiie. morning from
Ppokane and were met at the Union
dopot by a committee of the Clearing
House Association, consisting of J. C.
Ainsworth and George W. Bates, and
escorted to the Arlington Club, where
breakfast was awaiting: them. After
wards they were taken on an auto
mobile tour of the city.
Luncheon Attended by 30,
At 1 o'clock an elaborate luncheon
was given for them at the Arlington
Club, attended by about 30 represen
tative bankers of the city. Both Mr.
Hamlin and Mr. Perrin spoke of the
workings of ttie Federal banking sys
tem. Sir. Hamlin explaining the gen
eral features of the system and Mr.
Perrin telling of tho operations of
the reserve bank of the Pacific Coast
district. W. 1. Wheelwright, president
of the Pacific Export Lumber Com
pany, presided at the luncheon.
"While the system of rediscounting
had been tho regular system in vogue
in Kurope for many years, it was looked
upon with suspicion when first brought
forward in this country," said Mr. Ham
lin. "The late Mr. Aldrich and his com
mission are entitled to great credit for
placing before the people of this coun
try the general principles now in effect
under the Federal reserve system.
Kuropean Comparison Made.
"In regard to establishing the Fed
eral banking system there were some
who felt that wo should hava a strong
central reserve bank, but they did not
take into consideration the size of each
of the 12 reserve districts. Great Brit
ain, France, Italy and the entire Ger
man empire could all be placed in the
Pacific Coast district, with enough area
left over for a large Federal reserve
district. This district is one of the
most Important In the United States.
We have selected men the best quail
fled it was possible to find to direct the
affairs of the reserve bank at San
Francisco. As soon as the people of the
Pacific Coast learn what the bank will
dd for them. It will become one of the
greatest and most prosperous.
"There are 12 independent reserve
banks. The only centralization is in
the Federal Reserve Board, which is to
protect the entire Federal banking sys
tem, as well as the interests of the
people of the United States.
Reserve Feature Kxplalned.
"Under the old system there were
7500 independent National banks, with
their independent reserves. If the bank
got below its reserve it would cease, as
there was really no reserve. Further
more, the reserve could not be touched
under the former system, and hence
was of no practical use. During the de
pression of 1907 there was $200,000,000
in excess of reserves. There really was
not a panic and there could not have
been had we been able to utilize the
reserve held independently by the
hanks. The banks were obliged to keep
SO, 40,. 50, 70 and even SO per cent in
reserve.
"Under the old system we had the
National bank notes. When we needed
to expand the currency they contracted,
and when it was desired to contract
they expanded. We chained these notes
to Government bonds. In 1914, when
the time came to realize the liquidity of
these reserves, the stock exchanges
quietly closed down. Our financial sys
tem was the worst in the world, but
now our commercial paper liquidates
itself and we have the best system.
F.lastlclty Is Described.
"Among other things the Federal
reserve act has lowered the reserve
requirements of the banks, has pro
vided a practicable system of redis
counting commercial paper and has
established a liquid discount paper.
No bank needs to keep in its vaults
more than It requires for till money,
as a member bank always can get prold
at the reserve bank. The change from
the old to the new system was brought
about without the least trouble. The
banks patriotically paid in 300,000.000
without drawing on the reserve agents.
"Tho great advantages ot the system
basis already and predicted its rapid
expansion into one of the chief units
of the entire system. He urged the
bankers of Oregon to co-operate with
the officials of the bank and to take
advantage of all the benetits it pre
sented, lie declared that the Federal
banking system was one of great
service to bankers and the people gen
erally and in no sense a governmental
bureau.
Mr. Hamlin and Mr. Perrin were
joined in Portland by Russell Lowry,
deputy governor -of the reserve bank at
San Francisco, who has been touring
the AVillamette Valley and explaining
to bankers and business men the pur
poses of the system. Mr. Hamlin and
Mr. Perrin left yesterday for San Francisco.
GARDEN PRIZE LIST $3000
City Beautiful Committee Finishing
Plans for Judging.
More than !i000 is to be distributed
by the City Beautiful committee this
Summer in prises in the contest of
lawns and gardens in Portland. Final
plans for the judging are being com
pleted and the judges will make their
first tour of inspection the first week
of June.
It is believed from the number of
entries already in that before the end
of next week several thousand gardens
will be In the contest. No garden or
lawn will be judged unless it has been
entered formally.
There will be three classes in each
district, one for plots of ground 50x100
feet or less in size, one for lots greater
than 60x100 feet and for vacant lots
irrespective as to size. In the business
district there will be prizes for the
store making the most attractive dis
play. In addition to these there will
be largre prizes fop the schoolhousei
and yards and for the fire engine
houses.
PARK SWIMMING POPULAR
Staff of Women Infatructora Urged
by Several Organizations.
Portland's Park Bureau may take on
a staff of women swimming instructors
to give free lessons ir the public swim
ming tanks in the parks. Park Su
perintendent Convill said yesterday that
the proposition is being urged by a
number of organizations and that it
may be adopted.
Last season, the city had two men
instructors and they did good work.
It is the plan now to extend the work.
tion projects, tendered his resignation
yesterday to City Commissioner Dieck,
to accept the position of assistant to
State Highway Engineer Cantine. Mr.
Holmes will take up his duties in Sa
lem this week.
In his new capacity he will" have
charge of the design and construction
of all bridges and structures and steel
and reinforced concrete work for the
State Highway Engineer's office and
will assist in the preparation of stand
ard plans and paving.specificatlons for
use throughout the state. He has made
a special study of this character of
work for 10 years.
With the retirement of Mr. Holmes
Commissioner IMeck says the city loses
one of its best bridge and highway en
gineers. He has been with the city
for five years and a half, engaged in
the designing of bridges and other
structures and superintending construc
tion work and handling the mainte
nance and repair of highways and
streets. '
Grade Crossings Recent Work
Mr. Holmes for about a year was
head of the Bureau of Highways and
Bridges, which handles all the main
tenance work on streets and bridges
of the city. He retired from this posi
tion last Summer to take up surveys
and the preparation of plans for the
elimination of the grade crossings
along th line of the O.-W. R. & N.
from the head of Sullivan's Gulch to
the city limits, a project involving an
expenditure of about $700,000. This
work has all been completed and ac
cepted by the City Council and by the
engineering department of the railroad
company.
It probably will be several months
before any further engineering work
will be necessary on the grade-crossing
project and it was largely for that rea
son that Mr. Holmes consented to join
Highway Engineer Cantine. It is prob
able that when the regrade project de
velops to the point where Miprk will
be started an attempt will be made to
get Mr. Holmes to resume control of
the work, at least temporarily.
Large Operations Undertaken.
During1 his service with the city Mr.
Holmes has handled many large proj
ects. Most of the time he has been
engaged in designing ana detailing con
crete and steel structures, retaining
walls and similar improvements. Among
the projects he handled was the de
signing and preparation of specifica
tions and superintending of construc
tion of the East Twenty-first-street via
duct over Sullivan's Gulch; designing
the proposed East Sixteenth-street via
duct; the Crosby-street approach to the
Broadway bridge and preparation of
plans for the proposed high bridge over
the Willamette in South Portland, and
the proposed Occident-street viaduct.
Later as chief of the Municipal Bu
reau of Highways and Bridges he had
SORORITY AIDS YOUNG WOMEN TO COMPLETE COLLEGE
EDUCATION.
(II i
U U 17
jbiji Pill - U'-'JlU, Jl,4ite !id!! --
KAPPA ALPHA THETA CHAPTER HOUSE AT WASHI.VCTOX
STATE COLLEGE.
Kappa Alpha Theta, whose 21st B ie n n 1 a 1 Grand Convention
meets at Gearhart, in June has established a scholarship and un
dergraduate loan fund that promises to become an important factor
in the colleges where her chapters are enrolled. Sixty per cent
of the entire fund raised was transferred to what is now known
as an undergraduate loan fund and this year the organization has
enabled 10 women to complete their college work.
It is anticipated that not less than 400 -college women will visit
Portland In June en route to the convention at Gearhart. The
hostesses for the week will be the Northwest Thetas, including
the members of the active chapters at Eugene. Montana, Washing
ton and Pullman and the alumnae chapters at Spokane, Seattle and
Portland.
direct charge of the construction of 70
miles of hard-surface pavement and the
maintenance of 700 miles of improved
roads and highways, including the
maintenance and repair of all steel
bridges within the city.
He was a member of a committee of
five which revised the standard specifi
cations for public work, including pave
ments and concrete and structural steel
work. He supervised the design and
construction of various steel and con
crete structures, including the new
Vlsta-avenue wall: the steel viaduct
over the Southern Pacific tracks at Hoi
Bate street; the concrete viaduct on
Union avenue, and other projects of
importance.
Mew. Methods Formulated. v
As engineer in charge of the prepara
tion of regrade plans he had supervis
ing charge of the design of a series of
eight steel viaducts for heavy highway
traffic.
Curing his service with the city be
has introduced a number of new meth
ods in the engineering service, among
them the plan of visualizing engineer
ing projects. This plan involves the
Kill!
"s I
""WAN
1
Mm 11 1
Howard W. Holntci, VV Mo RrilgBi
From City lnsrinerlnB; Forte
to Beceme AsnlMtaut to State
Highway Engineer.
drawing of proposed bridges or other
structures on photographs showing ex
actly how the structure will appear
when completed. This innovation and
others have received wide comment in
technical journals.
Before Joining the city service Mr.
Holmes was engaged in engineering in
California. In 1907 he was United
States Mineral Surveyor for the dis
trict of California. Prior to that he was
engaged in engineering for private con
cerns. He is a member of the Ameri
can Society of Civil Engineers.
In the office of the State Highway
Engineer Mr. Holmes will have charge
of the preparation of standard paving
specifications fr the " state and the
preparation of designs and plans for
bridges, roads and tier structures.
DRIVER'S PRISONER FINED
Speeder Caught by Jitney Traffic
Conductor Assessed $10.
Arrested by a fellow jitney driver,
Clarence Ratelle was fined $10 for
speeding in Municipal Court yesterday
morning. This was the first arrest
since the establishment of the public
safety division of the Auto Welfare
Transit Society.
At a recent meeting E. J. Rahles
was appointed manager of the safety
division of the association of jitney
drivers and one driver in each jitney
line was named to act as conductor of
traffic. It was his duty to report all
traffic violations by Jitney drivers or
other autoists and to make arrests
when necessary. Joseph P. Flanigan,
business manager of the association,
has petitioned the Mayor and Com
missioners to allow these "traffic con
ductors" special police tars.
O. I, Mathette, who operates a jitney
on the Hawthorne-avenue line, arrest
ed Driver Ratelle.
Spokane Man Appointed.
SPOKANE. April 17. Governor LiS.
ter here today appointed W. H. Coch
ran, of Spokane, to be a member of
the State Board, of Control.
BAND TRIP IS URGED
Fire Marshal Wants Police Or
ganization Sent East.
PUBLICITY REGARDED BEST
Mr. Stevens, Returning J-'roni Visit,
Declares Advantage of Project
ed Tour Would l'ar Excel.
Any Ordinary Advertising.
That the police band tour will be
even a greater advertisement for Port
land and Oregon than tho local fire
bureau's band trip was 18 months ago
is the belief of Fire Maralml Stevens,
who recently returned from a trip to
the principal centers in the East, cover
ing approximately 10,000 miles.
In the opinion of Marshal Stevens,
the Chamber of Commerce would ac
complish more direct benefit for Ore
gon by sending the police band East
this Summer than by flooding the At
lantic seaboard with circulars and
pamphlets extolling the glory of the
Beaver state.
Marshal Stevens is co-operating in
the effort to send the police band East
this Summer, and with Fire Chief
Dowell is interesting the members of
the fire department in the movement.
which was put fairly under way this
week by the indorsement ot zz Business
organizations.
"What Oregon and Portland need in
the East is different advertising from
the stereotyped forms that so many
commercial bodies are using. The aver
age Easterner," said Marshal Stevens,
"will look at a circular and after a
glance will throw it into the waste
basket. I found that my identity as Port
land's fire marshal was lost in the
fact that I was manager of the fire
department band that went East two
years ago. Wherever I went I was
asked concerning the band. The peo
ple could not realize at first that we
had a paid fire department with some
400 members and a crack musical or
ganization as an adjunct.
"The newspaper publicity the band
gets on a trip of the sort is something
that could not be gathered in any other
way. Wherever the band goes the
newspapers will carry stories of it and
members of the band can have enough
literature concerning our state to give
to the thousands whose attention will
be commanded.
"While I was in the cities where the
fire department band played, there
were many inquiries as to its BUccess.
I told them the band was prospering,
but that Portland had one band that
could beat it, and that was the only
real police department band in the
United states.
"The police band should be sent East
this Summer to attract the thousands
of tourists coming to the exposition to
travel by way of Portland, and 1 be
lieve the cost of this trip will prove
the best investment the commercial
bodies of this city could possibly
make."
SUFFRAGISTS WILL GATHER
Oregon Convention of Congressional
Union to Meet in June.
The Oregon Convention of the Con
gressional Union will be held in June,
the exact date to be announced later.
Mitts Virginia Arnold says that indica
tions point to a most successful con
vention. At the meeting of the National Ad
visory Council of the Congressional
Union for Woman Suffrage recently in
New York City at 'the home of Mrs.
O. H. P. Belmont, plans were formulat
ed for thorough organization of the
women in all the states to press the
Susan B. Anthony amendment to the
Federal Constitution to remove the
qualification of sex from the ballot.
"The Convention." wrote Miss Lucy
Burns. National vice-chairman, to Miss
Arnold, tlie Oregon organizer of the
Union, "was of great practical value.
Plans were adopted for a convention in
every state to organize branches of the
Congressional Union.
Mr. Florence KeMey, general sec
retary of tho National Cons'iiners
League, paid, in speaking on "Which
Amendment Shall We Support": "It is
ridiculous to amend the Constitution
(by the Shaf froth-Palmer amendment)
for the mere purpose of obtaining; wom
an suffrage state by state, when almokt
every state has adequate machinery of
its own for that purpose, and, therefore,
we must, rally to tho support of the
simpler amendment to the support of
the Susan B. Anthony amendment."
Judge Issues Warning to Autoists.
If. C Barenstecher, arrested on a
charge of reckless driving, a week ago,
when tne automobile he was driving
turned turtle, was released in the Mu
nicipal Court yesterday with a warn
ing to be careful In the future. The
accident, which happened when he had
four newsboys in hi car at Twenty
first and Everett streets early lant
Sunday morning, was not duo to a
collision with another machine, but lo
a defective steering knuckle, which
caused Barenstecher to lose control of
the car.
Jrvington Would Huni.-h Cows.
Irvington district reMdcnts are up in
arms against the pasturing of covm
and horses on the vacant lots in that
district. A letter of protect agatnwt
the unrestricted grazing was received
yesterday by City Auditor Barbur,
signed by H. M. Cummlngf. secretary
of tho Irvington Community Club. It
is complained that the cows are pas
tured in many parts of the district.
A HAPPY BALD
HEADED MAN
Well-Known Politician Nearly Bald
Now Has New Growth of Hair.
Telia How He Did It.
i
A Western politician, well known on
account of his baldness and ready wit.
surprised his friends by appearing with
a new growth of hair. Many of bis old
friends did not know him and others
thought he had a wig. On being asked
how he did it, be made the following
statement: "I attribute the remarkable
growth of my. hair to the use of the
following simple recipe, which any lady
or gentleman can mix at home: To a
half pint of water add 1 oz. of bay rum,
a small box of Barbo Compound and hi
oz. ot glycerine. Apply to the scalp
two or three times a week with the
finger tips. It not only promotes the
growth of the hair, but removes dan
druff, scalp humors and prevents the
hair from falling out. It darkens
streaked, faded, gray hair and makes
the hair soft and glossy. These ingredi
ents can be purchased at any drug store
at very little cost and mixed at borne."
Adv.
"Painless Dentistry Is
Interesting"
r,V ..
K 7 . -t'- -
ivc- vv - : ... ,.:) ;
L : - .--'V :
DR. E. G. AUSPL.UND
Dentist
I have devoted the best part of
my life to this particular study,
and find that it is well worth while.
It makes me both friends and
money, and Rives me the satisfac
tion of knowing that I am doing
something1 good for humanity every
day I work.
TRY
My Painless Methods
My Scientific Work
My Very Reasonable Fees
By always doing: u I adrer
tise hare made my business
a clean, sweeping success.
Dentists come and go, but the
Old Reliable ELECTRO
PAINLESS is always with
you. Don't forget that.
Open
Tilt
EXPERT SERVICE! LOWEST PRICES!
All work warranted 15 years. Best bank references
We replace teeth without plates which cannot be told
from your own. We give absolutely reliable and up-to-date
dentistry which will please you not only in
looks, but in active service. Our artificial teeth are
guaranteed to fit, to stick to your mouth and to feel
comfortable.
Gold Crown and Bridge Specialists
Plate Specialists
Flesh-Colored Plates $10.00
Good Plates $5.00
Porcelain Crowns $3.50 to S5.00
Gold Filling ...Sl.OO
22-K Gold Crown S3.SO to $5.00
22-K Gold Bridge 83.50 to $5.00
Extracting .50?
toadsy
S to
IS
We are always busy, because our auecesa la due to the fact that we
do-the very beat work at very lowest prices
Electro-Painless Dentists
In the Two-Story Building
Corner f Sixth and Washington Streets, Portland, Or.