The Sunday Oregonian., July 28, 1918, Section One, Page 13, Image 13

THE SUNDAY OltEGOXIAX, PORTLAND, JTJjLT
28, 1918.
FRAUD TO DEBTORS
IS HOT PERMITTED
Conveyance Qf Property to
Escape Obligation ' Is
Held Void.
QUESTION LONG ARGUED
W. B. Shlvely, Chairman of Pott
land Realty Board's Legal
' Committee, Analyzes Part
" Wife iay Play.
BT W. B. 6HIVELT.
Chairman Legal Committee, Portland Realty
Board.
Can a man, owing? debts and with
Intent to defraud, convey his property
to bis wife or near relative or to a
friend, and thus remove It from the
reach of his creditors?
. The statute Involved in answering:
conclusive presumption of fraud; our
Supreme Court has been very careful In
pointing: out that
While transactions of this character be
tween husband and wife will be more clselr
scrutinized than It they were between per
sons not related yet the mere fact of such
relationship la not of Itself sufficient to
justify the court in declaring them fraud
ulent. And our Supreme Court further stated
in the very late case of Vogrt vs. Marshall-Wells
Hardware Co.. 172 Pac. 123:
The fact of relationship is merely a cir
cumstance to be scrutinized with other cir
cumstances In determining the good or bad
faith of the transaction. Good faith and
adeqnate consideration being shown, the
circumstances of relationship loses its value.
In other words, each case ha to be
decided on Its own particular facts.
For instance, in the case of,Coolidge
vs. Oberlin, 66 Ore. 563. 135 Pac 167.
the facts were, briefly, that a Mrs.
Oberlin at one time owned a Nebraska
farm which she sold and lent the pro
ceeds of the sale to her husband, who
invested the same in his own name.
Wife Gets Real Estate.
He then became Involved with his
creditors, after which he conveyed to
nis wile certain real estate in satisfac
tion of his debt to her. The creditors
thereupon brought suit against Ober
lin, endeavoring to have the deed from
Oberlin to his wife set aside, claiming
that the same had been executed with
intent to defraud them. The, court.
after reviewing: all the testimony, held
that Mrs. Oberlln's claim agrainst her
nusDand was a bona fide one; that he
had a right to favor her as his creditor
and that the transaction between them
should be upheld.
Again, In the case of "Walker vs.
Harold, 44 Or. 206, 7 Pac, 705, Harold,
being: in debt, borrowed money from
his mother-in-law, as security for
WATER SPORTS LURE!
Portland Swimmers to Vie in
Columbia Beach Event.
GREASED POLE IS FEATURE
First Big Water Carnival for Season
Will Open on August 3 Out
door Dancing; Attractive
to Many Visitors.
Portland's first bis; water carnival
for the season will be held at Columbia
Beach Saturday, August 3.
The date and details were announced
yesterday by Manager C. H. Lewis and
it is expected that the best of Port
land's swimmers, togrether with many
of the younger stars, will participate
in many events.
H. P. Terwilllger, swimming In
structor at the beach and formerly as
sociated with the Y. M. C. A-. will have
charge of the events. The judges will
be selected next week. There will be
tub, sack, straight foot and swimming
races. A greased pole with a war
NEW MARKET WITH STORES HANDLING MANY LINES OF MERCHANDISE JUST OPENED.
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THE UBGRTT, AX KIFTH AND YAMHILL STREETS.
this question is found In Lord's Oregon
Laws at Section 7397, and is briefly as
follows:
Every conveyance or assignment In writ
- lng or otherwise of any estate or Interest
In lands . . . made with the Intent to
hinder, delay or defraud creditors or other
persons of their lawful . . . debts ...
as agrainst the persons so hindered, delayed
or defrauded, shall be void.
Thla question has been the subject
of much litigation In this state. At the
outset it may be observed that a debt
or's right to prefer one creditor over
another Is not prohibited by any statute
of this state. Feldman v. Nlcolal, 28
Ore. 34, 42. 40 Pac 1011. (The remedy
of creditors seeking to avoid a prefer
ence to any particular creditor Is
through the bankruptcy courts.) And
. If a man Is Indebted to his wife, rela-
tlve or Intimate friend. It Is not a crime
: for him to convey his property to that
wife, relative or friend In eatlsfaction
...of, or as security for the debt; so long
as the transaction is made in good
" faith and for a valuable and adequate
consideration the conveyance will be
- upheld.
Court Upholds Right.
As was said by the Supremo Court
of the Stats of Oregon, In Wright vs.
.'. Craig, 40 Ore. 191. 66 Fee 807:
It Is not a badge of fraud for a hus-
band to sell and transfer property to his
wife, for the husband and wife can now
deal with each other so ' far as their aep-
'' arate property rights are concerned, as If
they were strangers, and where the right
exists there can be no Impropriety In x
erclalng it. However, by reason of the fa
clllty afforded by the relationship of the
4, parties for entering Into confidential rela-
4. tlons and keeping them secluded from
others such a transaction will be closely
scrutinized, and the grantee must exhibit
' such a case as is wholly consistent with fair
" " dealing.
Following this line of reasoning, It
' has been established In this state by a
,,. long succession of authorities that
- wherever a conveyance Is made by one
to an Intimate relative or close friend,
"the burden Is cast upon the person to
whom the conveyance is made to prove
- ' by a preponderance of the evidence
that the conveyance was made "for a
- valuable consideration. In good faith
and without intent to defraud" those
to whom the one making the convey
vance was Indebted at the time the con
" ' veyance wa made. HUlsboro National
- Bank vs. Garbarlno, 82 Ore. 405, 410,
'' 181 Pac 703. This does not mean,
however, that the mere fact of the
conveyance having been made raises a
MR. SHIVELY REPLIES.
In an article written by M. E.
Pogue appearing In The Sunday
Oregonian of July 21. entitled
"Rights of Wife Limited by
Laws," the author refers to an
article appearing over my signa
ture in The Sunday Oregonian of
July 7 (page 6, section 3) on the
subject of wills, and states that
In preparing that article it was
evident that the new dower and
curtesy law (1817 session laws,
687) had not come to my atten
tion. In this Mr. Pogue is in
error. A reading of the article
of July 7 on wills referred to by
Mr. Pogue will show that the
new dower and curtesy law is ex
pressly cited in the fifth para
graph thereof and that the effect
of the new law Is also referred
to and briefly Illustrated In the
6th, 11th and 14th paragraphs.
Mr. Pogue's article is a criti
cism of the new law, and lays
stress upon what appears to Mr.
Pogue to be an unjust Interfer
ence with the property rights of
married women. ' The article of
July 7 prepared by me is not a
criticism, but was Intended to be
a plain statement of the law as it
exists.
Readers of articles written over,
my signature will find that I do
not attempt to set forth my own
opinions and views upon what
the law should be or what courts
should have held. 'It has been
my desire merely to state the law
as It Is. and where opinions are
expressed it will usually be found
that they are the opinions of our
Supreme Court. I make this ex
planation in justice to myself in
view of Mr. Pogue's mistaken
statement that the new dower
and curtesy law had not come to
my attention In preparing the ar
ticle on wills.
which he gave her a mortgage for
11200 on certain lands standing In his
name. He then conveyed the prop
erty to his wife. The creditors
brought suit to have the mortgage and
deed set aside as being fraudulent.
After reviewing the facts, the court
held that it was Incumbent upon the
mother-in-law clearly to show the ex
act amount of money she had lent Har
old at the time the $1200 mortgage was
executed. The only sum shown by the
testimony to have been lent Harold In
consideration of the execution of the
mortgage was S400. The testimony as
to the balance of the alleged loan was
vague and unsatisfactory, and the court
held that the 31200 mortgage should
be scaled down to 1400 and the con
veyance to the wife set aside, which
was done.
And again. In Fleischner vs. Bank of
McMinnville, 36 Or. 653, 60 Pao. 603.
the facts were that one Redmond had
executed certain mortgages to his wife
and brother-in-law. It was claimed
that the wife and brother-in-law had
lent money to Redmond more than, nine
years prior thereto. No demand or
payment had ever been made upon
these alleged debts nor had any note
been taken from Redmond by either
the wife or brother-in-law, nor did said
debts show in the annual inventories
taken by Redmond of his business con
dition, nor in any of the statements
submitted by him to commercial agen-
les.
Transaction Not Upheld.
The court held that "a party who has
valuable claim against another does
not as a general rule suffer the claim
to stand for a period of 13 years with
out even taking a note, without calling
tor Interest and without security do
ing nothing whatsoever to collect or
secure the debt- Such is not the man
ner in which business is done while
valid bona fide debt is In existence."
And the court concluded that the mort
gages were executed for the purpose
I defrauding the creditors and were,
therefore, void.
In the case of. Wright vs. Craig. 40
Ore. 191, 66 Pao 807. it developed in
that case that the husband was hon
estly indebted to his wife in various
sums aggregating some (4000. Being
in trouble with his creditors, the hUB
band conveyed to his wife property
worth from 86000 to 810,000. The court
held that under the circumstances It
was not merely necessary for the wife
to show that she had paid a valuable
consideration for the conveyance, but
also that she had paid an adequate
one, that is, a sura commensurate with
the value of the property. After re
viewing the testimony the court held
that because of the fact that the prop
erty conveyed was of a value greatly
In excess of the debt shown to exist
between the husband and wife, the
deed should be set aside, but that in
view of the fact that the debt was
bona fide one, the wife should .have
first lien upon the premises Tor the
amount of the debt, the creditors tak
ing the balance.
From the foregoing citations it will
be seen that each case is to be decided
on its merits and that the court en
deavors to do substantial justice to
each party concerned.
Creditor Ja Defined.
Before closing it would be well to
call attention to the court's -definition
of the word creditor. A creditor is no
merely one whose demand is due, but
the term includes one whose demand
is yet to mature. As stated by the Su
preme Court in the case of HUlsboro
National Bank vs. Garbarlno. above
cited:
It Is oulte as culpable for the debtor to
alienate his property with intent to de
fraud one whose claim Is not yet due as
thus to seek to Injure one whose demand
has matured. To distinguish between th
two wrongs Is not consonant with sound
logic.
And the term "creditor includes not
only one whose claim Is liquidated
that is, reduced to a definite amoun
but also one whose claim is unllqui
dated, as, lor instance, one who has
right of action for damages agatns
another for an Injury or tort. Seed vs.
Jennings, 47 Ore. 464,467. 83 Pac 87
It will do seen, therefore, that any
conveyance to hinder or defraud one
who may subsequently reduce an un
liquidated claim to judgment falls
equally within the purport of the stat
ute and is void. Before any credlto
however, can bring such a suit to have
a deed set aside, he must either reduce
his claim to a judgment or have se
cured, a valid attachment, ;
savings stamp at the end as an Incen
tive will add to the merriment. The
man who reaches the stamp wins it. A
battle royal on the huge float will be
another diversion.
Liberal Prises Offered.
Prizes In war savings stamps amount
ing to more than J36 will be given the
winners in the respective events. The
completed programme will be an
nounced early next week. Entries for
the various events can be made at the
box office at the beach.
Today there will be plenty of amuse
ment. The afternoon and evening con
certs at 2 and 7 o'clock by Philip Pels
uu nu woiumDia Beach orchestra will
be followed by dancing in the open-air
pavilion. The beach , is in excellent
condition and thousands have enjoyed
piunBe in tne waters of the Colum
bia. An interesting feature is the re
volving rainbow tower, which throws
every color of the rainbow on the bath
ing crowas in tne evening, making the
beach a rarely spectacular scene. The
light is a regular feature.
PIcnio parties have found the beach
much to their liking. Last Sunday the
Brotherhood of Railway Trainmen,
with approximately 2000 members and
their families and friends, held their
annual outing at the beach.
Monkey Hunting: Delights.
Monkey hunting is
cal sport, but half a hundred men and
women engaged in the festive pastime
this week on Shaw's Island, where
Columbia Beach is situated.
Of eight large monkeys that form a
part of the animal show on the nromo.
naae at tne oeacn. tnree dodged their
Keeper at an opportune moment and
made a successful dash for llhertv in
the cottonwood and willow brake to
the rear of the beach.
The alarm was sounded and every-
Doay started to hunt the missing
simians and the vicinity of the beach
was scoured ror more than a day.
.cviaenuy two of the runaways did
not find the Oregon woods trimevn.1
much -to their liking, for they returned
of their own accord after eluding the
cnase. a no inira monkey is still miss
ing.
BUILDING BOOM LOOMS
'O LARGE APARTMENT-HOUSES
rise: at .north bend,
Simpson Estate Company Plans to Erect
SO Bnngalows tor Workers Ea
araged in Coos Plants.
NORTH BEND. Or.. July 27. (Spe
cial.) J. A. Allen, formerly engaged
in the shingle business in this city, has
prepared plans for the erection of two
modern apartment-houses on his prop
eriy on snerman avenue. The struc
tures will be of frame and plastered
and will contain four large apartments.
each with' built-in furniture and other
modern conveniences. The total cost
of the two structures will approximate
xio.uuu.
Tne large worklngmen's tDartnanii
now being erected by W. K. Wiseman,
of Powers, on a site only a few blocks
rrom the proposed Allen apartments,
are nearing completion and will be
ready for occupancy within a few
weeks. The completion of these aoart-
ment-houses will assist materially in
supplying the increasing demand for
apartments in this city and will afford
better accommodations' for the em
ployes of the industries.
Increased activity In building opera
tions is. noticeable throughout this vi
cinity of late and numbers of small
bungalows and cottages are in course
of construction. The Simpson Estate
Company, which owns a large number
of residence lots in the city, is having
contractors prepare plans and estimates
for from 20 to 30 bungalows, which the
company expects to erect. They will
be sold to workers In the mills on the
easy-payment plan.
WINNIPEG DEBT DECREASED
Portland Investors Interested
Report of Trustees.
Portland "Investors In ' securities
th city of Winnipeg, Canada, will
In
Shanahan's Great Drive on Seasonable
Goods Continues One More Week
you have a home, run a boarding house, lodging or apartment house, look at the wonderful
bargains Shanahdn is offering this week in sheeting, sheets, pillow cases and other household
goods. Buy liberally for your present and future needs, as it will probably be years before these
prices will again be quoted for such standard merchandise. The other departments have equally
tempting, off ers, made possible by Shanahan's policy of cash sales, light overhead expense and
small profit. We reserve the right to limit quantities.
Sheeting, Sheets, Pillow Cases, Table
Cloths and Household Necessities
Hotels, Rooming Houses and busy housewives should anticipate their needs in this line
at these exceptionally low prices.
A Sensational Sale of Towels
At Prices That Will Startle the Shrewdest Buyers
Size 132x23-inch Huck Towels Sp'l 122c ea.; doz S1.00
Size 17x32-inch Huck Towels special, each 18d
Size 16x33-inch Huck Towels special, each 20J
Size 18x33-inch Turkish Towels special, each 15d
Size 18x34-inch Turkish Towels special, each. . . 25i
Size 20x39-inch Turkish Towels special, each.. 35d
Size 24x48-in. Extra Heavy Turkish Towels sp'l, ea. 75d
Size 24x51-in. Extra Heavy Turkish Towels sp'l, ea. 98t
72x90.
72x90.
81x90
81x90
42x36
45x36
42x36
45x36
Sheets and Pillow Cases
AT TREMENDOUS SAVINGS
Inch Unbleached 'Tepperell" Sheets, each S1.65
inch Bleached "Fruit of Loom Sheets, sp'l S1.98
-inch Bleached "Champion" Sheets, special S1.85
-inch Bleached Linen Finish Sheets, special S1.75
inch Bleached Pillow Cases, special, each. . . .25d
inch Bleached Pillow Cases, special, each 25c
-inch Bleached Pillow Cases, special, each. . . .45ti
-inch Bleached Pillow Cases, special, each 45 d
A Phenomenal Sale of Sheetings
NOTE THESE LOW PRICES
54-inch Wide Unbleached Sheeting special, yard 50d
54-inch wide Bleached Sheeting special, yard 556
63-inch wide Bleached Mohawk Sheeting special, yd. 606
72-inch wide Unbleached Sheeting special, yard 596
72-inch wide Bleached Sheeting special, yard 656
81-inch wide Bleached Sheeting, extra special, yard 676
Wonderful Sale of Table Cloths
$1.98 Mercerized Round Scallop $ JT Q
Table Cloths. Special, Each. .1,0
Every woman will certainly profit by attending: this sale. These Table
Cloths are without a doubt a sjemilne bargain. Shown in several
beautiful designs. Don't overlook these oharmlns; covers.
$2.50 Mercerized Hemstitched
Table Cloths. Special at
Another sensational offering of Table Cloths. A remarkably rood
quality handsome designs, nemstltched all around a Table Cover
that will give eminent satisfaction. Curing: this sale only at 81.98
each.
$1.98
Wash Goods
Mrs. Careful Shopper, this is your opportunity to
supply your present and future needs here while
these special prices prevail.
35c New Plaid
Percales
Special 29c Yard
S-ICH These are shown In
broken plaids In a beautiful com
bination of colors suitable for
ladles' house dresses, aprons, chil
dren's dresses and, combined with
plain colors, mak lovely street
costumes. See our window display
on Third street.
19c to 25c White
Goods
Special 15c Yard
This lot Includes Stripe and
Check Dimities in various sises, ex
cellent quality suitable for under
musllns, children's wear, dainty
house aprons, waists, etc Don't
fail to supply your present and
future needs at this exceptionally
low price.
35c Dress Percales
Special 25c Yard
3S-IXCH In these days of tumult
and hitch war prices thla Is a most
sensational offering; shown In a
lars:e variety of beautiful designs
and colors suitable for ladies' and
children's wear, boys' blouses and
the many other uses that women
know for this excellent fabric.
Wonderful Sale of
Outing Flannels
Special 25c Yard
Here is your golden opportunity
to purchase excellent quality out
ing flannels at an unheard of low
price. These are actually worth
i6o today. Owing to the great ad
vance In cottons It will pay you to
lay in your supply now at this ex
ceptionally low price.
New Arrival of
Voile Waists
AMAZINGLY UNDER.
PRICED, EACH.
These Waists are new, crisp
stock, fresh from the man
ufacturers, fashioned in the
late stvles. They are here
at the proper time for your
mldseason needs. We are
offerlnar them far below the actual value of raw material. Join the
eager throng and obtain your share of these wonderful waists.
$1.39
$1.65 Black Silk Taffeta, Sen
sationally Underpriced, Yd. . .
35-lnch Dressmakers and those who do their own sewing will do
well at this sale, for sich SPLENDID SILKS are rarely offered
at such a low price. Beautiful, deep, rich, lustrous finish and Just
the right weight for costumes, suits, coats, skirts, waists and
petticoats. These are on sale for two days only (Monday and
Tuesday). Don't fall to lake advantage of this grand opportunity.
Hosiery and Underwear
At Prices That Will Meet the Approval of All
Economical Buyers
Fibre Silk Boot Hose
Special 50c Pair
Women's Fiber Silk Boot Hose,
double soles and high spliced heels,
wide hem and lisle tops; b 1 a o tc
only, fast color; jrood wearing.
Very special at 50c.
Children's Hose
Special 12V2c Each
Children's Medium - Weight Hose,
double heels and toes, black only,
all sizes 5 to 9 V. Just the stock
ing for beach and mountain out
ing wear. Very special 12H$.
35c Girls' Union Suits
Special 25c Each
Girls' Fins Ribbed Cotton Union
Suits, low neck, sleeveless, lace
trimmed, knee length, drop seat,
sizes 6 to 12 years. To close out
special at 25c.
Boys' Shirts and
Drawers
Special 25c Each
Boys Mesh Shirts and Drawers,
some Chalmers' Poros Knit mixed
In the lots: shirts have short
sleeves, drawers are knee length;
all sizes 24 to 84. priced at 25C
each.
$1.25
Pure Silk Boot
Hose
Special 89c Pair
Women's Pure Bilk Boot Hose, full
fashioned, double soles, high
spliced heels, lisle tops, black only,
embroidered insteps, regular $1.25
hose, special at 89.
35c "Hope" Muslin, Amaz
ingly Underpriced, Yard
Jd-INCH This well-known brand of Muslin Is on sale at a won
derfully low figure. Every woman knows the durability and ex
cellent wearing qualities of this Justly celebrated fabric Limit
TEN yards to a customer.
Men's $1.25 Khaki and Black
Sateen Work Shirts, Each . . .
HEX! These Shirts we are offering for this sale will appeal to you In
quality, workmanship and price. Nowhere In the country will you find
shirts of this quality at such a low price. Size 14 H to 17. Come, Join,
the vast army of thrifty buyers and take advantage of this wonderful
opportunity.
Boys' Khaki Overalls, Spe
cially Underpriced, Each. . .
Sizes 7 to 15 years. Here are Boys Khaki Overalls of exceptionally
good quality. Her la your golden opportunity to purchase over
alls at a remarkably low price.
$1.00
75c
Boys' Waists
Special
50c each
Bora blouse waists
In a variety of pat
tern with military
collars mada up In
percales and cham-
brays In neat atrlpea
of various widths.
Excellent quality.
Slzea 6 to 12 year.
Store
Open
9 A. M. to
6 P. M.
MAMAM
Saturday
From
9 A. M. to
8 P. M.
We Dellyer to All Parts of City New Location, Dekum Bldg Third and Washington Sts.
THE STORE THAT SAVES YOU MONEY "THE BIO CASH STORE"
Entrances 266 Washington St. and 125 Third St.
20c Curtain
Scrims
12 y2c Yard
S-IVCM Curtain
Scrims la white,
crtam and tcru,
with hammed bor
der. Ezoallm t
quality. Cheap at
20c today. o n' t
fall to take ad
vantage of thla
exceptional o f f a r-lnr.
Interested to learn that there hu been
a remarkable decline In the et debt;
. I tha In ait four VSlfB. At
shown in the report of th. sinking fund
trustees or tne cny iur m j
lng April 80. 1918.
In 1914 the gross debt was 841.gOJ.tl8.
the sinking fund $4,609,086. and the net
debt 8S7.198.8J1. J.n ui mo ""
had been reduced to 839.992.830. the
sinking fund had Increased to JMfO.
139 and the net debt was $30,892,691.
a decrease pf 86.801.140.
NEW COMPANY IS ORGANIZED
George Boole, of Seattle, Head of A.
M. Castle A Co.
The business heretofore conducted
by the Western Hardware & Metal
Company at Seattle, and that by A. M.
Castle & Co. In the Pacific Northwest,
is to be conducted hereafter by A. M.
Castle & Co., of Washington.
Th. entire organization and ware
house facilities of the Western Hard
ware & Metal Company have been tak
en over by the new company, which is
organized with, a capitalization of
81.500,000. A. M. Castle & Co. was I
founded In 1890 with headquarters
In Chicago, and from most modest be
ginnings has grown to be one of the
important Iron and steel jobbers of the
country with a modern plant and facili
ties. The Western Hardware & .Metal
Company was established twelve years
ago by George Boole, who had Had a
wide experience In iron and steel mer
chandising, particularly on the Pacific
Coast. Mr. Boole will be active in the
new company and will b. th. chairman
of this board.
Th. n.w company will have the larg
est stock of its kind on the Pacific
Coast. It will represent th. various
mills which A. M. Castl. & Co.
handled and also the ones heretofore
represented by th. Western Hardware
& Metal Company. The principal of
fices will be at 1201 First avenue.
South, corner of Connecticut street,
Seattle, Wash. The officers are:
George Boole, Seattle, chairman of the
board of directors; W. B. Simpson, of
Chicago, president; L. M. Henoch, of
Chicago, secretary; H. Crskin. Camp
bell, of Seattle, treasurer; George War
ren Boole, Eeattle. vice-president;
Frank J. Speckert, SeatUa. ' vsus-f e&le
dent; Roy L. Sanford. San Francisco,
vice-president.
COOS TO WELCOME EDITORS
Hospitality of District Extended by
Business Men of Harbor Towns.
MARSHFIELD, Or., July 27. (Spe
cial). Coos Bay is going to entertain
the Oregon Editorial association Jo a
fitting manner when It convenes here
from August 9 to 11 for a three days'
session, on. of which will be spent at
Li. J. Simpson's Shoreacres home.
To aid In th. work of making the edi
tors of th. state feel they ar. wanted
and will be mad. welcome, th. cham
ber of commerce of North Bend and
Marshfleld are writing personal letters
to all newspaper men, urging them to
come down and enjoy three days of
cool breezes and th. hospitality f the
district. Local editors and newspaper
men ar. also assisting th. committee in
every manner possible.
Tba, ftjsgenjan classified, ads.
Directors of Prominent
Life Insurance Agencies
Aemfccr of Ufa Undertoriten .
Association of Oregon.
Wm. Goldman. General Manager.
NATIONAL. LIFE OP VERMONT.
Oresonlan Bids.
H. G. Coltoa, Manager.
MASSACHUSETTS MUTUAL. LIFaL
Chamber of Commerce Bids.
Lb Harmon. General Asent.
PEN N MUTUAL. LIKh;.
Northwestern Bank Bids.
Horace Mecklem. Manager.
NEW ENGLAND MUTUAL. LIFE.
Northwestern Bank Bids.
M. M. Johnson.
NEW WORLD LIFE INSURANCE CO,
02 Ptevena Bulg.
H. R. Albee, General Acent.
NORTHWESTERN MUTUAL I.IKE INS. CO.
Northwestern Bank Bide
T. H. McAllla. 8tate Mir.,
UNION MUTUAL LIFE INd. CO.
Board of Trade BUg.
Edgar W. Smith. Manager.
EQUITABLY LIFE ASfcURA.NOH SOCIETY,
evn vresouiaa ja.ag.
V