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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Jan. 4, 1920)
TTTE SUXDAT OREGONTAN. rORTXAXD. J A NTT ART 4, 1920. ITIOi il WILL LEND 10 REBUILD EUROP i El American Exporters to Get $17,000,000. MORE .LOANS POSSIBLE fitp to Assist Kxportcrs In Getting Materials Across Is Be lieved Indicative. WASHINGTON, Jan. 3. Appeals of American business for aid in financing- the reconstruction of Europe were answered today when the war finance corporation announced that four loans, aggregating J17, 000,000. soon would be made to commercial interests which will employ the money In ex porting needed materials to the stricken nations. Wide difference of opinion has ex isted among government experts as to the advisability of extending gov ernmental aid to manufacturing ex porters. Decision of the corporation to utilize its power under the amend ed war finance corporation act came as no surprise, however, as Secretary Glass has taken a definite stand in favor of tendering assistance of some sort. War finance corporation officials were reticent tonight about plans for further loans. They admitted, how ever, that "sheaves of applications for advances" were under consideration. Heads of great business houses have been frequent visitors at the offices of the corporation, and offi cials have thus obtained information of value as to the general needs both here and abroad. It was pointed out that while the American manufacturer possibly could find markets for his product here, he would not be estab lishing himself in the world trade, and such a situation, business men have told officials, would result In the rele gation of American products to sec ondary importance in world traffic The loans announced were compara tively small, but they were believed to forecast the attitude of the corpor ation's future action. Two loans, each of $5,000,000, have been arranged to finance the exporta tion of locomotives and agricultural machinery. The locomotives will go to Poland and the agricultural ma chinery to England, France and Bel gium. A third loan for $6,000,000 will go to an electrical machinery corporation and will be used for rehabilitation of stricken sections of Belgium and France. An advance of $2,000,000 also is In cluded in the total of $17,000,000 to go to several banks which will furnish funds for the exportation of machin ery to reconstruct steel mills in France. Loans which the corporation is making are arranged under the war finance corporation act, which per mits the loaning of not to exceed $1,000,000,000 In aiding American in dustry to export to Europe. INTERNATIONAL MART URGED Finance Corporation Official Has Flan to. Meet Europe's Problem. EW YORK, Jan. 3. Establishment n International nubile market for ial and expeditious means of pro se the war-stricken countries of ope with long-term credits was immended today by Eugene Meyer managing director of the war association of foreign press cor- pondents. "Assuming," he asserted, "as seems ar from the annual report of the ecretary or tne treasury, a credit from the United States government Is no longer, obtainable, except in cases of pure relief, there are three forms of credit left from America: Credit from banks, credits from Industrial and commercial sources and credits obtainable from the investment mar ket In this country." Bank Credits Little Good. Bank credit is necessarily short term credit and totally inadequate to meet existing difficulties, he ex plained, although the Edge bill, re cently passed by congress, is designed to facilitate the creation of long term credits of a kind appropriate for foreign trade under present con ditions. Commercial credits also are being arranged in considerable amounts, he said, some of the Industrial compa nies applying for and getting their funds from the war finance corpora tion. Reconstruction loans already arranged for, he said, total $17,000,000, divided between purchases for agri cultural machinery, locomotives and electrical machinery. "Credits obtainable in the invest ment market," Mr. Meyer continued, "should be the most important source of assistance If it can' be enlisted on behalf of the situation on a larger scale. A number of loans payable In dollars already have been issued in this country, and this Is one good method by which the American in vestor is helping. But one method Is not sufficient, and for some time I have been advocating the opening of our public markets, under proper safeguards, not only to those dollar loans, but to the internal loans of foreign countries., , Funds Wool! Be Pro-Hded. "In' years past -when the United States needed foreign capital, Europe bought our American dollar securities, and it was only as an exception that the American borrower was called upon to issue his obligations In for eign currencies. "Any dealer in International secur ities should be able to buy these for eign securities In the open markets of Europe and at moderate charge to have his . European certificate ex changed for an American which wiuld be good for delivery in our markets. "The results would be furnishing through the investment market large aggregate amounts of funds for financing our .trade with European countries through the medium of the American investment market; mate rial broadening and eonsequent sta bilization of the exchange market; helping the European markets for their internal loans, because the Euro pean investors would . have the ad vantage of an international market rather than a national one for their own issues; making the internal loans of foreign countries as collateral for securing shorter or longer accommo dations from various sources in Amer. lea. including the war finance cor poration." : TURKEY SECRETLY TIES CRUELTY COi, Copy of Armenian Edict Reaches United States. STOCK SALE WARNING OUT Investors Warned in Report of Fed eral Reserve Bank. NEW YORK, Jan. 3. Investors have been warned against "the sinister ac tivity of promoters and salesmen who are trying to float stock of dubious character" In the December report of the federal reserve bank for the sec ond district, made public here today. The amount of these securities on sale Is estimated at "hundreds of millions." The creation of a large body of new capital lists through the gale of lib erty bond-s has encouraged these vales men, the report adds. Based upon inquiries made to more than 50 banks it appears that the questionable stock selling movement is general In the larger cities of the district, A possible Indication of the extent to which new capital is sought ap pears, the report explains. In the total of new incorporations. Last Novem ber new incorporations in the eastern states totaled $1,341,000,000 and in October $2,363,000,0ooi as compared with $121,000,000 in November, 1918. The monthly average for 1919 was $1,054,000,000, nearly seven times the monthly average shown by the five years prior to the war. "Most of the new incorporations are of oil, shipping and chemical com panies and concerns engaged in the manufacture of articles which bring high prices .and large profits. In many cases the chance of return to the investor Is limited to the main tenance of the present price level. ASTORIA RAIN HEAVY Precipitation of 10.61 Inches Re corded for December. ASTORIA, Or., Jan. 3. (Special.) December not only brought about 14 inches of snow, but it was the coldest and wettest month of the present sea son In Astoria. The records in local Weather Observer Rosenberg's office showed that the precipitation during the month was 10.61 inches and the greatest amount of rainfall during any 24 hours was 1.98 inches on De cember 17. There were 16 clear, four cloudy and 11 partly cloudy days. The maxi mum temperature was 67 degrees on December 28, while the minimum was 9 above zero on December 12. This was the lowest temperature recorded here In many years. The number of inches of rainfall during each of the past four months has been as follows: September, 3.06; October, 3.52: No vember, 10.14; December, 10.61. Total, 27.33 inches. POLICY IS NOT RELAXED Peel Postoffice to Close. ROSEBURG, Or., Jan. 8. (Special.) After 32 years of continuous serv ice as postmaster at Peel, on the. xxortn umpqua, Zo miles east of Rose burg, Lafe Engels has resigned, and owing to the fact that the govern ment can find no one who will ac cept the responsibility, the office will be closed. Patrons of the Peel office will be compelled to get. mail either from Glide or Hoglan. CARD OF" THANKS. We wish to thank our many friends and Royal Neighbors for their kind nesses and floral offerings at the funeral services of my beloved wife, Martha Mann. . Adv. T. G. MANN and DAUGHTER. Forcible Conversion of Christians to Islam la Order Directed to Provincial Authorities. WASHINGTON, Jan. 3. A copy of a secret Turkish circular, dated Novem ber 28, addressed to the provincial authorities and bearing the seal of the minister of the interior, reached Washington today, ordering the forci ble conversion to .Islam of the few non-deported Armenians and those who have escaped massacres and death by privations and sickness. "The non-deported Armenians and those whose deportation has been stopped and who have returned to their homes are to be made converts to Islam," the circular says, "and such Armenians who have thus been converted may get back the property which has been confiscated from them. Mohammedan Marriage Urged. "All houses of which the Armenians have been dispossessed should be con veyed to those Armenian women and girls who during the deportation period have been married to Moham medans. "All Armenians who have thus been converted en masse should be allowed to settle Jn Mohammedan villages and cities where they should not consti tute more than 5 per cent of the Mohammedan population." Miran Sevasly, representative In the United States of the Armenian na tional delegation, to whom the au thentic copy of this circular was sent, said, in discussing the circular: Pellcy Held Xot Modified. "The present government of Con stantinople has not modified In the least Its policy towards the surviving Armenians. It Is following in the footsteps of Sultan Hamid, who was in the habit of decorating dis tinguished foreigners and their wives In Constantinople while he was or ganizing massacres In the interior of Asia Minor and Armenia and the Young Turks who gave the finishing touches to the policy of Armenian ex termination. "It would be a delusion to accept any of the pompous statements which have been issued from Constantinople by the Sultan and his acolytes. Those who are encouraging statements of the kind to be published and the American and European press are not serving the best interests of human ity and civilization. The sooner the allies and associated powers impose their conditions upon the Turks the better it will be for the peace of the world." VICTIM OF TURKS ARRIVES U. S. Comforts Fail to Lift Veil of Sadness of Armenian Girl. NEW YORK, Jan. 3. Broken In health and bearing on her right thumb the red tattoo mark Identify ing her as a Mohammedan slave, Var tanousch Karagheusian. a 20-year-old Armenian girl, spent today In the company of her brother, John N. Kar agheusian, a rug dealer of Minneap olis, whom she had not seen In 12 years. She is the first to reach Amer ica of the victims of the Turkish de portations of 1915-16, when thousands of Armenian and Syrian women were driven from their homes to Aleppo. Theaters, automobile rides, pretty clothes, and all the comforts of one of the city's biggest hotels have failed to bring a smile to the girl's Jips. When she met her brother she broke Into a fit of hysterical weeping, and despite his efforts to amuse her th veil of sadness remains. latlons In Turkey, especially in Thrace, continue while the Turks discuss their possible fate at the peace conference in Paris, according to dispatches re? ceived here by way of Constantinople. County Judge Weds More in Linn Than Do Pastors. Fifty-seven Ceremonies Performed by Judge BUyen, While Closest MinUter Bn Only 43. ALBANY, Or.. Jan. . (Special.) W. R. Bilyeu, Judge of Linn coun ty, officiated at more weddings in 1919 than any other person in the county. He tied 57 matrimonial knots. Dr. George H. Young, pastor of the First Baptist church" of Albany, ranked first among the ministers of the county In number of ceremonies performed, officiating at 43 weddings. Others who officiated at five or more weddings are: George H. Ben nett, until recently pastor of the First Methodist church of Albany, 15; Dr. W. P. White, pastor of the United Presbyterian church of Albany, 10; Rev. Father Lane, rector of the Al bany parish of the Roman Catholic church, eight; Rev. S. Childrers, who served part of the year as pastor of the First Christian church of Albany, seven; Rev. Wallace Howe Lee, acting president of Albany college, six; Vic tor Oliver, justice of the peace of the Albany district, five; Rev. W. L. Dem lng, present pastor of the First Chris tian church of Albany, five; Rev. Al byn Esson, former pastor of the First Christian church here, who now re sides near Albany, five. GIRL APPLIES TO WED FIRST LEAP-YEAR APPLICANT APPEARS IN TACOMA. But Nellie Is Forced to Make Sec ond Trip to Get Affidavit From Prospective Hnbby. TACOMA. Wash., Jan. 3. (Special.) Nellie Smith, the first applicant for a marriage license, in leap year, walked into the county auditor's of fice today. "May I obtain a marriage license here?" she queried. "You'll have to hav your prospec tive husband along with you," smiled a deputy auditor. "Could you go out and get him to come in rith you now?" "Oh, my goodness, no," said Miss Smith. "You see, well-er, that Is, well, he's in the guardhouse." "In the guardhouse?" "Yes, he's a soldier and he was a little inconsiderate on New Year's eve, so they locked him up, but I want to marry, him just the same," explained the girl with trembling lip. I The clerk came to the rescue with ' the suggestion that she obtain an ; affidavit from the nnavo!dihlv rl. I tained prospective bridegroom and a little later In the day a properly signed bit of paper bearing the state's seal and showing that Nellie Smith and Cecil Pendergast had made all due legal preparation for a marriage ceremony passed into Miss Smith's possession. CONCERT IS EXPERIMENT Deverenx Company to Present Comedies Here This Week. In the appearance at the public auditorium each night this week of the Clifford Devereux company in a series of classical comedies, the city of Portland expects to determine Just how this class of entertainment ; stands with the public at this time. The city is presenting the company ! as an experiment, this being the first attraction of the Bort since the Ben Greet players of two years ago, a company which attracted large audi ences. The Devereux company is making Its first tour of this part of the coun try, having confined its work for eight years in the east, where the company is well known. Zanlta Graf, leading woman In the comedies, is ex ceedingly well known in literary and theatrical circles. TURKS CONTINUE OPPRESSION Chrlstlans Suffer During Discus sion of Peace at Paris. SALONIKI. Jan. 8. (Greek News Agency.) Attacks on Christian popu- BANK RESOURCES LARGER Gain of More Than Million in Clarke Country Reported. VANCOUVER, Wash.. Jan. 3. (Spe cial.) Resources of the banks of Clarke county, the smallest but one i CHESTERFIELD Suits and Overcoats Can be bought now at a saving of $10 to $20 a garment in comparison with prices for spring. Through our Profit-Sharing Cash-Selling Policy we save you regularly from $5 to $10 on the Suit or Overcoat in compari son with prices charged by other stores. Compare Gray's $30 Suits and Overcoats With Those Sold by Other Stores for $35 and $40 Compare Gray's $40 Suits and Overcoats With Those Sold by Other Stores for $45 and $50 Compare Gray's $50 Suits and Overcoats With Those Sold by Other Stores for. $55 and $60 Compare Gray's $60 Suits and Overcoats With Those Sold by Other Stores for $65 and $70 Ladies' Suits. Coats and Dresses Greatly Reduced in Price Late styles, fine tailoring, splendid mate rials." The following price reductions are made on Ladies' Suits, Coats and Dresses: $50 to $60 Values at... $38.50 $65 to $70 Values at. . .$43.50 $75 to $8Ch Values at... $49.50 $85 to $90 Values at. . .$62.50 $95 to $100 Values at.. $69.50 $110 to $120 Values at $75.00 $125 to $150 Values at $95.00 $160 to $185 Values at $119.50 There is not a Suit, Coat or Dress in the store but would cost much more at whole sale than you are now paying at the reduced sale price. Prices for spring 50 higher; needless to urge you to buy now. JR. Gray's Values Will Tell 1 T "FT f m w ir Q 366 Washington at West Park of the richest counties in the state. Increased more than XI, 000.000 during the year Just ended. Total resources at the end of 1918 were 16.041.734, and deposits $5,640, 963. Total resources at the end of 1919 were 17,048.583 and deposits 18.355,155. There were a large number of chil dren ploying In the street at the time. McCourt on Bench Tomorrow. John McCourt. latest appointee to the circuit bench in Multnomah coun tv. will assume the reins of the pre siding judgeship tomorrow morning at the courthouse, the six months' term of William N. Gatens as presid ing judge ending Saturday. At 9:15, prior to the opening of court at 9:30. friends of Judge McCourt will gather in the courtroom to extend their wel come. There will he eifts of flowers. and Attorney Harrison Allen will make a brief welcoming speech. A three-handed watch of French In vention tells both 12-hour and 24-hour time, one hour hand being used for each on separate dials while a single minute hand is used for both. LAD STRUCK BY AUTO DrlTer, in Effort to Dodge Children at Play, Hits One. Orlando Deplnto, 8 years of age. 426 Second street, was struck by an auto mobile at noon yesterday In front of his home and received a fracture of the right leg. He was taken to St. Vincent's hospital. He Is said to have been sitting on the sidewalk when a passing machine turned to avoid striking two children In the street and hit Deplntu. The car was driven by C. Nelson, 454 Broadway, .who drives a delivery machine for Sawyer's market. Ac cording to Motorcycle Patrolman Schad, who made an Investigation, Nelson tried to avoid striking the little boy by hitting a telephone pole. Oriental Rugs For the New Year Wondrously beautiful, and with a mystic charm which never grows old, an Oriental Rug brings to the home an atmosphere of culture and refinement. We will be delighted to have you view our collec tion ; we own and exhibit the largrest stock in the Northwest. Cartozian Bros., Incorporated Established 1906. Washington, Near Tenth Liberty Awppaurel Co Free Brooms MONDAY To the first 50 customers pur chasing a Suit, Coat or Dress we will give a 30-ounce Broom Free. 144 Third St, Bet. Alder and Morrison Free Brooms MONDAY To the first 50 customers pur chasing a Suit, Coat or Dress we will give a 30-ounce Broom Free. weeping" So great were the crowds that thronged our store the first two days of our sale that many were unable to get prompt service. For this we wish to apologize. Monday you will find our stock replenished with greater sweeping-out prices so our advice is COME EARLY AND AVOID THE 300 TRIMMED HATS AND SHAPES $1 1 SUITS, COATS, DRESSES $14.75 s CROWDS W 7) so IhwI COATS, DRESSES ' J $10 . 0 0 il ' 1 I H A if f ; - ' -; rv Direction fi V ' i i , v of Jensen Tf:- :'. i ' - Herberg: u i . -"V r - . m M t ft I y i w in "EYES OF J if YOUTH" v Miss Young's popular ity Increases with every showing of her latest and most lavish produc tion, "Eyes of Youth." . Her stately beauty and superb dramatic ability fit her to take the part of Glna Ashling as no other screen star could. Thousands- have pro nounced this remark able offering "the great est screen accomplish ment since the introduc tion of the modern photoplay." Cecil Teague at the Wurlltser renders a soul-stirring accompani ment one that you'll never forget. SUNDAY CONCERT, 1:30 P. M. Prosrmmm t La Sorella Gallinl Deep in the Heart of a Rose Morning, Noon and Night. Suppe Cavatina Raff Vivid. Vapid, Vapor- ings on the Vamp... Qay