10 THE SUXPAY OEEGOXIAX, TOKTLAND, FEI3KUAKY G, 1921 nn mniurn 11 1 t n in m nsmm WRECKED By GALE Passengers and Crew Are Be lieved to B-e Safe. VESSEL ASHORE ON CALIFORNIA ROCKS, RESCUE SHIP AND LATTER'S CAPTAIN". VESCEL EN ROUTE HERE 1 ificrn IVrr-ons on Hoard Arc Re ported Hound for Portland and Four for Seattle. SAN" FRANCISCO. Feb. 5. Isolated by wind-torn seas and prostrated wire communications, but with her pas-Ft-nKers and crew believed to be safe ashore.the steam schooner Klamath, bound to Portland. Or., lav battered tnd torn tonisrht in a rock-encircled I cove at Del Mar, SO miles north of here, where she wag carried by a ale early today. Kvery effort was beinx made by the C. R. McCormick company of this, city, which operated the vessel, to provide iood and housing for the 31 passengers, amonsr whom were four women and a- child, until they could be brought back to this city. Her crew numbers 38. The Admiral line steamer Curacao halted on a trip from this port to Kurcka Ions enough to set within a half mile of the Klamath and to de termine that the passengers and crew were ashore. tC - I ? " t, v 'V. "w t A I'll' 1 1 1 ")r Aid Ih Vainly Attempted. She proceeded on ner way at 9 A. II., after vainly attempting to render assistance, and her place was taken tiy the Mi'Cormick steam schooner Kverett, which proceeding from Co lumbia river points to San J)iego. The following w ireless message was received by the Mi'Cormick company from Caotain John Foldat of the Everett late today: "Unable to approach Klamath, on account "mountainous seas. Decklnad in poor shape. Klamath too far away lor me to detect any people." Captain Foldat referred to his own deckload, as the Klamath was in bal laft. He was ordered to atand by the Klamath until other vessels could be tent to relieve him. Wire Are Unprd Ion. ' The wind which swept the Klamath ashore ripped down virtually all wires Let ween lel Mar and Point Arena, which is 17 miles north, and the out n.de world, and they remained pros trated throughout the day. At 'noon today the wind was still 83 miles "an hour at pdints on the -coast near Point Arena, but was said to be dying down. The Klamath sent out but two wire less messages after she struck, the f.rt a general S. O. S. and the second a message to the radio corporation of America station at Bolinas, near here, that she had gotten two lines ashore, hut that her wireless aerials w-ere toppling over. The steamers Alaska, Jueen and Curacao picked up the S. I). S. and the Curacao, being the closest, went at once to the scene. Salvage VeMrl Sent Out. An army airplane from San Fran rtsco which attempted to land on the bluff near the Klamath was nearly cverturned by - the wind, its pilot. Lieutenant W. C. Goldsborough, ported. Lieutenant Goldsborough -aid he believed the passengers and crew fought their way through the surf to safety, but the steamer's own- rs were of, the opinion that a breeches buoy effected the rescues. The Point Arena lifesaving station crew also was believed to be at the scene, although no word of any kind was heard from it. Two salvage vesscs were sent from here late today to relieve the Everett. Four Hound for Seattle. Four of the Klamath's passengers "W-ere bound far Seattle, the remain der for Portland. Their home ad oresses are not known by the steam ship company. f The Seattle Passengers were: . Mrs. M. K Stingerland. I. Culver, L. I.efevre and X. Liken. Those Portland-bound were: F. Murphy, p. j Flack. Paul An derson, II. J. Jo'nnson. P. Harp, A. -Melchart. .Mrs. I. Buckley and child, Jam Woodward. W. 'Prummell, .(. Mc(!ilien, .Miss Irene McGillen. Miss Ethel McGillen. J. Shelton IX Lcng." I l . 5v COAL FOR HONOLULU Oregon Pine and Oregon, Fir Coming Back Home. listed to arrive here February 16, and j s. considerable quantity of cargo for the return trip to the Atlantic coast already has been booked for her here, according to Mr. .Callan. The steamer Willpolo will be due here on March 5, the Willsolo on March 25 and the Willhilo on April 1. ANOTHER TAXKER LAOfCHED OWNERS WELCOME NEWS MISHAP FIRST lOR CAPTAIN T. A. Janiirscin Commanding Ves sels for Lar 80-Vcars. The Klamath is one of five passenger-carrying steam, schooners owned Vy the Charles R. McCormick company Hid operated northward by the Parr- :cCormick company and southward I v the McCormick Steamship line. She was built in 1910 at Fairhaven. Cal l.y the H. D. Bendixsen Shlpbuildin; -mpany. and has the following di mensions: Length i'07.5 feet, breadth )!. feet, depth 1J.4 feet. She has a capacity for 1.100.000 feet of lumber ar.d a net tonnage of 662. CaptainT. A. Jamieson. master of ir.e rviamain. nas Deen enmmanaing coasting vessels ". for more than 30 3 cars and is known to his associates end employers as a careful and highly competent officer. The grounding of the Klamath, a. his .f!rs,t serio.us .tro.Ur hie with any of the many vessels he as commanded. Including the steam schooners San Ramon, Xorthland, Vanguard and others. He owns a J art interest in the Kiamath. Ernest Arnesen. second officer of the Klamath, after traveling as her J'urser for many years, recently missed a trip to take Ms examina tion for mate's papers, and rejoined :er in the deck department on her last trip but one into this port. Fred Lundeen took the steward's berth left vacant by Arn'jsen's advance ment. A crew list of the vessel was not available here yesterday, as this is kept at her home port, San Fran cisco. Xo men have been supplied to this vessel in recent months by any of the Portland marine unions. On her departure Friday night from San Francisco the Klamath had 'just come off the drydock, where extensive work had been done on her hull below the water line. The cabins and superstructure generally were to be remodeled on her arrival t St. Helens. The fact that the Klamath was nground 17 miies south of Point Arena was tho only information rf the occurrence received by E. H. Meyer, Portland manager for the McCormick company. The Merchants' Exchange received word from Sin Francisco that the Klamath was re ported in distress at 1 A. M.. and later that she had gone ashore oi Fish Rocks. A later message dated JO A. M. stated that the passengers tnd crew were safe on the bluff abov7 the rocks and" that the vessel appar ently was intact. Xo word from tha Curacao had been received last nigat in the -ocal offices of the Pacific Steamship company. The Curacao is due here Tuesday if not delayed too long In standing by the Klamath. Captain W. A. Hall, master of the Fteamer Curacao, played an important part in the rescue of the crew of the steamer Joan of Arc when she piled up on the Port Orford reef on No vember 15. He was at that time com mander of the Admiral line steamer City of Topeka. which groped her way through the darkness in a blind ing storm to the side of the stranded vessel and picked up her passengers from thfc'sniall boats. The only one of the passengers mentioned in dispatches as coming to Portland on the Klamath who can definitely be identified as a Portland er is Paul L. Flack, son of Mrs. Theo dore Billeter'of 6C0 Third street. Young Flack was on his way home from San Francisco, where he has just been discharged from the navy after serving for two years in the Philippines. The last word Mrs. Billeter had from her son was a note received Friday, saying that he would be home in a few days. I'll (rifle Coast Shipping Notes. ABERDEEN. Wash., Feb. 5 (Special.) The strain schooner Johan Poulxen ar rived this morning at 11 o'clock and will load at the Western mill. The steam schooners Carlos. Hartwood. Multnomah ami Willie A. HiKKins cleared at 1 1 o'clock this morning tor San l'edro. The steam schooner Daisy Gadsby cleaied yesterday lor .San l'edro. The steam .schooner Carmel left for Westport. "Or., this morning, whrresne will complete loading hex canto for San Francisco. Ships In port are the Daisy Freeman, at the Northwestern mill, Hoqulam; Shasta, at the J. K. Wood mill, Hoqulam: Johan. i'oulsen, at Western mill, Aberdeen; Forest l-rienil, at the Motorshlp dock, and the motorship William Donovan, at the Donovan mill. South Aberdeen. TACOMA. Wash.. Feb. 5. (Special.) The Arabia Maru. of the Osaka Shosen Katsha- line, is due at Tacoma Monday morning, the head offices at Tacoma have been 'advised. On account of bad weather the Arabia is running one day ate, it Is said. The vessel has only a fuir amount of icneral freight in but a full cargo out from Tacoma. The larger part of the out ward cargo is cotton, and this will total around h'lOO bales. Machinery makes up the remainder of the freight for the ves sel. Among the steamers listed for arrival here to loud next week is the Artigas, to take large amount of tie timber to the Atlantic coast. The Santa Inez, to load for Chile and Peru, and the Collegian, of the Harrison line, to load :or Europe. It Is possible that-the City of Spokane Will be here to load for the orient. The West Cayote. which arrived here this afternoon, wllr be In port until Tues day or Wednesday, loading for Europe. The vessel has a large amount of freight to take out on this voj'age. The Anne Hanlfy Is looked for tonight from San Francisco. The Hanify has lumber to load here for California. The Admiral Evans is due Sunday night or Monday morning from San Francisco. It Is thought she will get away from here Monday afternoon. -)vMvft : f V fir V : IJolh Portland-Owned Vessels Will Load In Hawaiian Islands for Trip to Columbia River. The Portland-owned schooners Ore gon Pine and Oregon Fir are shaking out their sails on the long voyage back to this port, according to a cablegram received yesterday by- Frank S. Baillie. manager for urant Smith & Co., who are the managing agents of the two vessels. According to the cable advices, the Oregon Pinj sailed from Xewcastle, X. S. W., Feb ruary 1, with a cargo of 4330 Ions tons of coal for Honolulu, and the Oregon Fir is to leave Newcastle next Wednesday, also with coal for Hono lulu. The departure of the two craft for their home port is welcome new- to I aboit . 100 Portland men who own 1 stock In the vessels, for they will re ceive another dividend on their ar rival. For the first six months of their life, the Oregon Pine and Oregon Fir have paid their owners on the basis of 1 per cent of the capital invested. A better opportunity to "judge the comparative, sailing qualities of the two windjammers will be given by the homeward trip than was afforded by that from Portland to Australia. Both sailed from this port for Mel bourne, Australia, but the Oregon Pine lost part of her rigging in a Bale and put into Sydney, from which port she towed to Melbourne. The Oregon Fir sailed directly to Mel bourne, but also suffered some dam age from heavy weather. Third of Seven Carriers for Oil Transport Complnv Floated. The steamer Swiftstar, the third 12,000-ton tanker built by the North west Bridge & Iron company on a contract for seven Buch craft for the Swiftsure Oil Transport company, was launched yesterday morning. Airs. Xelson Bowles of Seattle was the sponsor. The four remaining vessels under the contract are expected to be com pleted by June, and it is stated by directors of the Northwest Bridge & Iron company that no further work is in sight for the plant. RECOVERY II II IS ACTUALLY BEBUH Business Situation Shows No Ground for Pessimism. CREDIT PROSPECT MENDS Vessel Makes Promised Time. "I'll make Balboa in 18 days and the 600 tons 1 have aboard will run me that long," said Captain C. H. Longbottom, master of the steamer Mobile City, when local dealers urged him to take a larger fuel supply. Merchants' exchange advices yester day reported the arrival of the Mobile City at Balboa Thursday, 18 days from Portland. Movements of Vessels. PORTLAND Feb. 5. Arrived at 4 A. M , steamer W. F. Herrin, from San Francisco. Arrived at 5 A. M.;, steamer C'apt. A. F. Lucas, from San Francisco. Sailed at 2 P. M., steamer Daisy Putnam, for San Pedro from St. Helens. SAX FRANCISCO. Feb. 5 Arrived Acme, from Bindon; Elizabeth, from Ban rim- tJlmrufrt- frnm nuttimnr Sailed Colombia, for Hongkong: J? SegunJo, for Portland. y - Reactions of Past Week Were lo Be Expected and Market Now Is in Stronger Position. BARCELONA. Feb. 1. Arrived Berwyn, from Portland, Or;. . YOKOHAMA. Feb. Maru, from Tacoma. 1. Arrived Toyo MANILA. Feb. 3. Arrived Empress of Russia, from Vancouver. HONGKONG. Feb. Jessup, for Vancouver. LINE NUT BOLT - MET REFUSAL TO KEIJP AGREEMENT OX FREIGHT RATES JflXTED. Top i- Sirnmet Klnmatrr. - .middle '. A. Harriman Says Merchant Ma- Titrnmrr . n roe no. ifclovr inptuiu (barter Hall. rine Is Tottering, but Prob lem Can Be Solved. Export company of Seattle. 'has just re turned from Cuba, where he Vent in be half of his firm. Traffic conpeFtion at Havana verges on the indescribable, he says. A hundred vessels are in that port unable to disvharse or receive cargo as a result of a financial flurry. The steamship Kurydamus has ben op erating in the Rlue Funnel line's Scattle- XEW YORK. Feb. 5. Intimation that the American Ship & Commerce corporation, of which V. A. Harri man is the. head. . might bolt trt agreement between, competing coast to coast steamship lines covering united .Kingdom service via the Panama freteht rates, was made here toda. canal, i ne Fteamsnip fe.uryn.acn us win Uy ir Harriman. ; Th. ".Vr.-hin t:,T' f ThI Speaking before the national re- Blue Funnel line's Seattle-oriental service, publican club with thairman Benson will sail from this port February 15 for ot the shipping board and rank A China, Japan and the Philippines. The V anderlip of the American interna vessel Is loading at pier 14. The steam- I tinhal rornoration. Mr. Harriman at- snip trotesnaus oi t re Hlue funnel iieei is due in Seattle February L'.s from ports in the orient and will sail for China, Japan , and the Philippines March IS. The steam ship Teucer will follow the Protesilaus, I Hailing from Seattle for ports in the orient VANCOUVER. B. C. Feb. 5. 'Special. It is the Intention of the Vancouver board of trade suction, which tn forming shipping bureau, to have Installed a w Ire less plant of a radius of 3Ut m lies. Negotiations are under way with the Mar coni company. It is proposed to construct a- station -that will link up with the pow erful wireless plants at Carnarvon, Wales; at Lyons. France: Nauen, Germany ; Ca- vi te, P. l.t and Funabashi, Japan. R. Dockerill has been appointed chairman for of the shipping tection of the Vancouver board of trade. The steamer City of ancouver. Cap tain Boyd, is in port today taking stores preparatory to proceeding to Portland to load's fulr cargo or buik gram for Jlu mne. The ship will be lined here accord ing to United States bulk grain regula tions but the bulkhead worn win oe aon at Portland. She is expected to sail on imrla-v- A very large cargo of silk consigned largely to points In the eastern section of United States is on board the liner Em press of Japan out from Yokohama Fri day last and due in Vancouver February Itl. The silk consignment totals nearly 1OO0 measurement tons. ASTORIA, Or., Feb. 3. (Special.) Th steamer .Texan arrived from Bellingham at 1:30 this afternoon and proceeded to Portland The schooner K. V. Kruse will leave to night for Portland, where she will await a charter. After taking on 400,000 feet of lumber at Knappton tor New York, the steamer Steel 'inventor shifted at 8 o'clock this morning to Wauna, where she will load more lumber and will then go to Port land and discharge freight from the At lantic seaboard. Bringing a cargo of fuel oil, the tank steamer Captain A. F. Lucas arrived at C o'clock last night from California and proceeded to Portland. With a part cargo of lumber from "West- port for San Pedro, the steam schooner Johan Poulsep sauea at o ciock laat night for Grays harbor to finish. The steamer Alaska will be due tomor row morning from San Francisco with freight and passengers for Astoria and Portland. Carrying freight and passengers from Astoria and Portland, the steamer Rose City sailed at 7:30 o'clock last night for San Francisco. SAX PEDRO. Cal.. Feb. 5. (Special.) The steamer President arrived today ap pearing like a new vessel. She hati been completely overhauled and rejtaintd. She has been out of service for nearly one month. The repairing is said to have cost $1J.",(MM) and was done in a Seattle yard. In addition to overhauling the boilers and engines a complete new lighting system was installed. ( Marius de Brabant, president of the Los Angeles Pacific Navigation company, and chairman of the committee of foreign trade of the Los Angeles chamber of com merce, sounded warning that the city should have a strong delegation at the meeting of the shipping- board to be held in Washington if this port wished to be included in any of the foreign trade routes. The sardine run now is on and canneries are beginning to pack heavily. Approxi mately half a million pounds of sardines were received in the last week In January. A heavy wind kicked a swell outside of the breakwater today until the waves were dashing over the base of the lighthouse. The wind was blowing 35 miles an hour at 2 o'clock this afternoon. SEATTLE, Wash., Feb. 5. (Special.) En route to Seattle via Vancouver. B. C. the shipping board steamship City of Spo kane, in the service ef the Pacific Steam ship company, is due here tomorrow. The vessel has visited all of the regular ports of call in the orient, and is bringing to a close one of th longest trips of the com pany trans-Pacine i.eei. tacked the board's policy of putting its wartime tonnage in competition with privately 'owned vessels in th Tana ma canal trade. He said it misrhfeome to a question of his corn- April 10. The steamship Talthybiiis of pany's treasury against that of the shipping board s. "We have the advantage, however of return cargoes." he added. Mr. Harriman referred to the Amer ican merchant marine as tottering, but said he believed the problem would be solved. Discussing the shipping situation, with particular reference to the dis position of the government's tonnage, the speaker said: . "We have a dying merchant 'ma rine and prompt action is necessary. The United States, through the re publican party, has pledged itself to American shipping, but it lias no: done one single thing to that end." Reduction of the cost of opera tion was declared by Chairman Ben son to be" the aim of the shipping board. He asked that port develop ment in this country was woefully deficient, adding that there was not a modernly equipped dock in New York. . . Admiral Benson said that 4'it was fortunate' .the shipping board haj not disposed of its, vessels at low prices, for the reason that with the distress conditions no prevailing it would . have produced a catastrophe World wide economic problems oi which he said shipping was but a part were discussed by Mr. Vanderlip. He advocated an unselfish viewpoint of the world's business and attributed unsettled conditions to an unusual in terruption of the routine of business. the Blue Funnel! service is 'scheduled" to sail from Seattle April -ti.for China, Japan and the Philippines. The schooner Columbia-was held- under federal libel Saturday, pending settlement of suit for $t;0 brought against her by Fred Violet and his wife, Huth. , Violet alleges he was injured while employed on the Columbia. The pa"eps were served by Deputy United States Marshal Cooligan, as the vessel was about to depart foi China. SAX FRANCISCO, Feb. 3. (Special.) Although the wind blew with terrific fort e all Friday night and kept the white caps showing on the waters of the bay this morning, there was no damage re ported. The storm warnings posted by the weather bureau early Friday afternoon were heeded by the owners of small craft and everything was made wcure. The ships at anchor trk. especial precautions against dragging their anchors and came through the night without mishap. Sugar rates troni Central America and Mexico today took a dxop from $15 to Jit a inn in all ships -operated by companies that publish a tariff. The announce inert was made through the freight department of the Pacific Steamship company. Local sugar retailers stated today that this re duction no doubt. would bring the price of sugar down to a cents a pound. Whether or not the Matron Navigation company in tends reducing the rales from Hawaii could not be learned today as the officials of the company were not in the offices. It was expected, however, they w ill have to protect the Hawaiian Industry and that a drop can be looked forward to. With Captain Thomas Blau on the bridge, the hold filled with west coaut mer chandise and a passenger list which In cluded many San Franciscans on business nd pleasure trips, the Pacific Mail liner Colombia snilud today for HotioMu, Yoko hama, Hongkong and Shanghai. Reports that the coast guard cutter Bear, which has been 'in service in the Bering sea for nearly half a century, was to be made, a training ship for the coast guard service were received in shipping circles today. T4ie Bear was to be sta tioned at Sun Diego, according to the re port. The Pacific Mail liner Nanking, which was delayed in Honolulu by the port au thorities because of two cases, of smallpox discovered among the crew, was due to arrive in San Francisco Tuesday. The Liberator, of the Atlantic, Guff & Pacific Steamship company's fleet of freighters, arrived here today with a good corgo of central American and gulf prod ucts. She was due to sail aain for Philadelphia, New York and Baltimore on February lis. The Dutcher freighter Eemdyk, which arrived here a few days ago from Rotter dam, left today for the north to load re turn cargo. She expected to pick up some cargo here, but found that there was none offering. PORT TOWNS END, Wa.h.. Feb. 5. Fpecial.) The United States shipping board steamer Kayyeeka. in the service of Thorndyki, Trenholme & Co., arrived this evening from Europe, via San Pedro and San Francisco, proceeding to Seattle, where she will discharge several hundred tons. of sand from Belgium, which will be used ;n manufacture of glass. She brought a full cargo of European freight for San Pedro. As no freight offerings have been made, she probably wiil be laid up at Se atttle to awaft charter. Two days behind schedule, the Osaka Shosen Kr.lsha steamer Arabia. Maru ar rived this afternoon from the orient, via I Victoria. She brought about 40IM) tons of ! oriental products for discharge at Seattle I i.nd Tacoma. En route t- the orient with lumber loaded nt Mukilteo and general cargo loaded at Seattle, the steamer West Jappa mailed early this mornng, The Japanese steamer Tenpaisan Maru, with part cargo loader at San Francisco, and the remainder, at Tacoma. sailed this morning f-jr Kobe and Yokohama. W ith lumber loaded, at Tacoma steamer Solano sailed this morning San Pedro. , SYDNEY, N. S. W., Feb. 3 Sailed Canadian Prosecutor, for Vancouver. YOKOHAMA. Feb. 1. Sailed Arizona Maru, for Tacoma; Tokashima Maru, for Seattle. m SEATTLE. Feb. 5. Arrived St an wood apd Yosemite, from San Francisco; Kay peeka. from Antwerp, via Cristobal and San Fwncisco ; Arabia Maru. from Hong kong, via Shanghai and Yokohama. Sailed Governor for San Pedro via San Francisco; Artigas. for Philadelphia via San Pedro aiu: Cristobal; West Cayote. for Antwerp and Hamburg via Portland. San Francisco and Cristobal. TACOMA. Feb. 3. Arrived Artigas. from Boston via ports; West Cayote. from New York via ports, Fulton, from Powell River. B. C. Sailed Fulton, for Powell River; ChilU- wick, for Surf Inlet, B. C. SAX PEDR'J. CaL. Feb. .. Special. ) Arrived Steamers West Isleta, from Port land, 1 P. M. ; City of Reno, from San Francisco, . M.; Maquan. from San Francisco. 8 A. M.; San Jacinto, from Grays Harbor 7 A. M. ; Derhlay, from Val- raralso, 8 A. M. : Centra I fa. from han Francisco, 8 A. M. ; President, from Se aitle. a P M. Departed Steamers City of Reno, for Seattle, ." P. M. ; Maquan. for United King dom. 1 P-M.; Wnhkeena. for Grays Har bor, 6 P. M.; San Diego, for Grays Harbor, 8 P. M.; Centralia. for Santa Rosalia. 3 P. M. : Prentiss, for Albion, tt P. M.: Daven port, for San Diego. 5 P. M.; Ohloan. for Phi'adelphla. 5 P. M.; Walter F. Lucken bach, for Sa:i Francisco. 5 P. M. : West Kebar, for Un'ted Kingdom, 5 P. M. BY STUART P. WEST. (Copyright. lUiM. by The Oregonian.) NEW YORK Feb. 5. (Special.) The moderation on the stock exchange this week has been explained by some critics as the result of the advance in money rates and commercial discounts. While this has been something of an influence, no doubt, the movement of prices could be accounted for quite aa well by condi tions within the market itself. The upturn in the first fortnight of January was al together too rapid lor the bargain hunters of December to follow. Nobuay eupposed that the time had come for any sustained speculation on the rise, consequently there was no buying power supplied from specu lative sources after prices had had ihe:r 10 to 10-point advance. These high figures were rea :ned wholly through the excited bidding of traders short of stock and when these coven.ig purchases were over there was notaiii hold the market at its high leui A rfc -Mrttinf I action that wouid carry prices oactt tt wnere tney would once more attract reai buying was Inevitable. It would have come about- regardless of the course of mrfiey rates. This reaction is what has been taking place during the past week- It 'nas left the market in a str jiigtr p) sit ion because what little fresh specula tion was initiated a month ago has been o. isaiiea v est increased. Bond Reaction Slight The real test of the importance of the higher money rates has been witnessed in the bond uiarket. Bond prices are cov.n generally from their top, but consider. ng their previous rise the react i jn is eiy slight. There has been no setback to speak of in preferred industrial shares a.id in other investment stocKs, which had such large advance durinc the first half of last mont h. Had the hardening of money been "tutcen very seriously, were it expected to last, securities of fixed yield which had gone up on the belief that the maiu ten dency of interest rates, was to work lower, w ould certainly have shown more sensi tiveness than they have. As a matter of fact, even such little falling off as there has been in bond prices cduld be ascribed to causes other than the rise in niunej . It was clear two weeks ago that the long term mortgage issues which had got back per cent basis had reached the utmost logical limit for their present ad- LA'ance. .Moreover, there has been constantly In creasing competition with these flotations of htgii investment rank and more at tractive yield. In view of the enormous outpour of new offerings during the last month, jt is not surprising that the oond market should have paused in its advance. It is only surprising that it should not have reacted more. The S and I) per cent call money rates and the advance from u'.& to i Pr cent in time loans on industrial collateral are WILLIAMS L1VK BIG FACTOR Company to Knter Strong Coiupcti- tion for Intcrcoaslal Commerce Serious 1 intention of the Williams Steamship company of taking a large place in the intercoastal business is indicated by a echedule of sailings received yesterday by A. C, Callen Portland agent for the new Williams I; fie. which' calls for the routing of i a i -n 111. ei Hur vessels ui ine; vv i mania iieci iu Portland within a period of six weeks, The first of this line to come to Portland will be the steamer Willfaro, which is now discharging a full cargo cf steel at San Francisco. She is ASTORIA. Fel). 3. Sailed at 7:0 A. M., steamer Rose City, for San Francisco. Left up at S:45 A. M.. steamer Steel In ventor. Sailed at 10::t0 A. M , steamer Johan Poulsen, for San Francisco via Grays Harbor. Arrived at 11 A. M., steamer Manzanita. from sea. Arrived at 3:30 and left up at 2::i0 - M., steamer Texas, from New York and way ports. BALBOA. Feb. Z Arrived Brit ish steamer Orient City, from Portland for Hamburg. SAN FRA?-CISCO, Feb. 5. Sailed at 1 F. M., steamer Segundor from Portland for San Pedro.' ABERDEEN, Feb. ,". Arrived Steamer Johan Poulsen, from the Columbia river. BELLINGHAM. Feb. 4. Sailed at 4 P. M.f steamer Texan, for Portland. HONOLULU, Feb. 4. Sailed Schoo Irene, for the Columbia river. 0 The chairman of the federal reserve board, who is perhaps in closer touch ihan any other single Individual with financial and commercial conditions, has again taken occasion to say publicly that the crisis is nasi, that all dancer of panic is ovr. that the credit situation is steadily on the mended and that while recovery in trade will be slow, it has positively begun in some quarters and may be expect d in time to extend to others. This seems to be an eminently sane view of things and it is the opinion of the man who was one of the first to sound the warning m the autumn of 1110 and one of the first lo forecast the change for the better when the situation was at its worst toward the close of li2o. Railway Problem 1'iiMilved. Regarding the very important railway problems which must soon be settled, pub lic opinion is not likely to be on the side ; entirely off either one of the contestant.- j It will maintain that the transportation j industry cannot expect to escape its share. of the depression , which has overtaken other lines of trade and therefore that it is quite as unfair to judge the rai'.way situation by the operating deficits of Jan uary as it would be to judge the outlook for manufacturing industries hy the mel ancholy showing which many of in esc companies made for the December quarter and will make lor the first tn-ee months Of 1U21. But on the other hand, fair-minded judgment will insist that the railroads be permitted the same latitudde in hand. lug the wage question to meet reduced income that manufacturing enterprises have ar.d will cei-talnly not support railway em ployes in their contention that ihey should b the one class exempt from revision of working1 forces and payrolls. "ra vs Harbor, L"-M miles bout h of Gm s Jlr.rbor. KKDOXHO. San Fr;incIsco for Cwt Uaj, bar-hound ou!:dd- of t'ooa Ha v. BRADFORD, Vancouver lor San Fran cisco, 57't miles north of lSun Francisco. CLA K l M )NT, W ilia pa Harbor lor an Pedro, bar-bound ut V J ilupa Harbor. AVAl.t'N. Wiliapa Harbor tor San Fran cisco, bar-bound at Wiliapa Harbor. A L M IKAIi K V A N S. Sa n Fra nc iko I or Seattle, ail! 111 firs from Seattle. IK1S. rtii.in Ha. H. C. for Situ Fian cireo. 4.'i7 miles north of Sun Francisco, WEST IH iLHKOOK. San Francisco for Port Angeles, IS miles oil L'mpiua rivei lightship. HUOAD ARROW. San Francisco for Woosung. 3 411..' ni!)e from Sun Francisco. February 4. N P. M . A Ltl( N'iJl' IN. San l'edro for Tuingtau. 24 tin miles from San Pedro, Febiuary 4, S p. M. LIBERATOR, San Tedro for San Fran cisco. ;( miles hui ti of San Francisco. Fehruarv 4, 8 P. M. MOFFETT, Richmond for Honolulu. IPOO I miles w est of R ichinond, February i, $ P. M. N AN KINO, orient for San Francisco, 117S miles west of Sun FranciMo. El. Sl';i'.l0. Richmond for Portland, "2 miles north of Richmond. ADMIRAL SCIl LEY. San Francisco for Wilmington. Ht iniies from San Francisco, YORBA LINDA. Shuttle for San l'edro, 2!M miles from ,an Pedro. EYEKKTT. Astoria for San Diego, 520 miles south of Astoria. MAN - tV, ISan Francisco for Honolulu, I0.itt miles from San Francisco. Ql'KEN. San Francisco lor Seattle, U7 miles om San Francisco, CREOLE STATE. San Francisco for H'nflu!tl tiri ?tiile( wet of Sun Frjtm fwen Murine Notes. The schooner Irene was reported to the Merchants' Exchange yesterday as having sailed from Honolulu Friday for the Co lumbia river. The steam schooner Daisy Putnam left down from St. HcI-as at 2 o'clock yester day afternoon with Tumbr for San Pedro. The oil tankers William F. Herrin and Captain A. F. Lucas both arrived at their docks early yesterday morning from Cali fornia. The Herrin was scheduled to de part at 2 o'clock his morning and the Lucas at 1 o'clock this afternoon. The steamer West Nivaria of the Colum-bia.-Pacific Shipping company's North China line will be refloated from the Port of Portlnnd drydock at H o'clock this morning and will go to Westport to start loading for the orient. The- new . tanker Swiftarrow. recently launched by the Northwest Hridge A- Iron company, will leave the dock of ner build ers at 4:30 P. M. Monday for her river trial trip. The steamer Steel Inventor, of the Isth mian line, came up the river ye.siorday morning from Knappton to Wauna to tuke a parcel of lumber and will go to the Co lumbia County mill at St. Helena ut noon today to complete her cargo. The North China liner West Keats will get th last of her cargo aboard at the In-inan-Poulsen mill today and will shift to the Shell oil docks at 'A P. M. to loud 4000 barrels of fuel oil. She Is expected f go down the river lonigh I for north 'hina ports. She will be followed in this service hy the steamer West Nivaria, departing February 21. The steamer Coaxet of the Admiral line, will shift from the Crown mills to Kerr, Clifford Co., A Ihina dock to rout in ue loading fcr the orient. She is listed to de part next Thursday. The port towhnat Portland went down the river yesterday to bring up the schooner K. V. K ruse, w hich urri ed in the stream Friday night from Honolulu. The steamer fcJenulyk nf the Holland America lim, is Hcht!u1e to lea vp Sa u Franci-sco today for Portland anil will he due here Wednesday. She will berth first at the North P.ank dock to take a ship ment of wheat for continental Europe. Ship Reports by K.ul i. (Furnished by Radio Corporation of Amer ica. ) Positions reporteu at S P. M. yesterday, unless otherwise indicated, were as follows: TOURS AND CRUISES POMONA. San Pedro for Ualboa. to e accounted for in Dart bv the .ante I renulremenis of underwriting Fvmlicalesl miles. Mouth of- ya n I'eilro. bringing out the various new capital issues, IUOHMOND. towins biirse No. 97,. S;m in part by heavv government withdrawals! Francisco for Tampico. miles houlli of nna in part oy null street overaointi me stoi r runnsi n. relaxation last month and lowering its bid for funds to such an extent that the in terior banks withdrew their money from New York for the more profitable uses offered at home. They were temporary influences only. Th. bis thjngs are the improvement in the general banking position as It ap pears in the federal reserve board ratio and the reduction in the obligations of re- j-serve banks in the agricultural regions to ISKIYOL". off Tort San Luis, bound for Portland WEST CACTUS. Honolulu for San Fran cisco. 444 milex west ut Sail Francisco. WEoT I.MI.AV. San l'edro f.ir Shanghai, tiNT miles froi:i Sun Pedro. COLONEL. S. L. DRAKE, San Pedro for Point Wells, tI."i miles from San Pedro. POKTEP. Linn tun for Caviota, J40 milts south of Columbia river. ALASKA. San Francisco for Portland, banks in other sections which have not ! 40 miles south of Cape Blanco. been under such a strain. It would be QL'INAFLT San Francisco for Wiliapa quite easy under the federal reserve syu- i Harbor, -'.'i-' miles north of San Franci.-co tem for insiitutiona having a high per-I .MULTNOMAH. Clays Harbor for San centage of reserve to take over discounts Kranclsco, ai'4 miles north ot San Fran froin the New York bank and so reheve I cisco what tension there Is in the New i'ork I iIivlkAI. DEWEY. Seattle for San market. This has been done to some ex- j Francisco K!."i milej from San Francisco. ULfcLM, u.euni lor rornanu. o- miles Creamery Changes Vtvnors. PRIXEVILLK, Or., Feb. 5. (Spe clal.) Through the efforts of the business men of this place, Swift & Co., said to be the largest operators of creameries in the west, have taken over the local creamery thereby succeeding Turner & Pease, a Seattle firm. The price for butter fat will now be the same as Portland prices J. E. Adamson will be retained as manager for the new company. Port Calendar. the for Tides at Astoria Suntluy. High. Low. 0:21 A. M...7.2 feet 0:21 A. l 2.0 feet 11:55 A. JI 8.7 feet (:5,"i P. M u.l foot Silverton Asks $13,000 Armory. SALEM, Or., Feb. 5. (Special.) Thirty members of the Oregon na tional puard from Silverton and ten other prominent citizens of that city yesterday conferred with the county court here with relation to obtaining an appropriation of $10,000 for the Purpose of erecting an armory at that place. The court has taken the re- E. M. Corbett, president of the-American I quest under consideration. To Arrive at Portland. Vessel J'rom Due. 9tr. Washtenaw, .... .Ran Luis Feb. 6 Str. Alaska San Francisco. Feb. 6 Sir. Ceiilo - . San Franclsco.Feb. ' 6 Str. Egeria Honolulu ....Feb. 6 Str. Grays Harbor. San Francisco. Feb. 7 Str. Curacao S. F. and way. Feb. 8 Str. City of Vanc'ver. .Victoria Feb. 8 Str. Eemdyk London-S. F..Feb. 9 Str. Artigas Phila-S. F. ..Feb. 9 Str. West Cayote Seattle Feb. 10 Str. Hermion Norfolk Feb. 11 Str. Liberator San Francisco.Feb. 13 Str. Mont Cervin Cuba Feb. 15 Str. Willfaro San Francisco. Feb. 1(1 Str. Pengreep. ..... .r-ncianu feb. IS Str. Montague Orient Feb. IS Str. -Bearpor't Yokohama ...Feb. 18 Str. L-erblay S. . . . W. S. C. A. ... Feb. 20 Str. Arizonan New York . . . Feb. 25 Str. Steelmaker New York ...Feb. 25 To Depart From Portland. Vessel For Date. Str. Capt. A. F. LucasSan Pedro ...Feb.. 6 Str. Wm. F. Herrin. . .Gaviota Feb. 8 Str. West Keats North China. .Feb. 6 Str. Willamette han rancisco.Feb Str. Curacao. Str. Wapama Str. Nile Str. Swtrtarrow Str. Alaska Str. Steel Inventor. . Str. Coaxet Str. Texan Str. TamalpaJs Str. West Cayote. . . . Str. West Nivaria S. F. and way. Feb. 8 . S. F.-L. A Feb. 8 ..Colon f. o. Feb. 9 .San Francisco.Feb. 9 . San Francisco.Feb. 9 .New York ...Feb 9 .Orient Feb. 10 .New York Feb.-ll .San Pedro . ..Feb. 14 .Europe Feb. 15 . iortn unina .Feb. 21 Vessels In Port. Berth. Btr. Capt. A, F. Lucas.Standard Oil dock. Str, Coaxet. ... i Albfna dock. Str. Nile Irving dock. Str. Steel Inventor. .Wauna. air. Tamalpais Peninsula mill. Str. Texan Terminal No. 1. Str. Vvapama St. Helens. Str. West Kader .Terminal No. 4. Str. West Keats Inman-Poulsen mill. Str. West Nivaria. . . . Westport. Str. Willamette St. Helens. DAILY MEXEOROI.OGICAI, KKPORT, , PORTLAND, Feb. 5. Maximum temper ature, 45 degrees; minimum. 33 degrees. liiver reading. S A. M.. .l feet: change in last 24 hours. 1.2 feet rise. Total rainfall (3 P. M. to i! P. M. . 0.5S nch: total ram fall since September 1. 1920'. Ill 01 inches: normal rainfall since September 1. 2ti.s0 l.;ches; excess of rainfall since September 1. 1!20. 4.15 inches. Sunrise. 7:211 A. M. unset, 5:22 P. .M. Total sunshine Febru ary 5. 4 hours 40 minutes; possible sun shine. 9 hours 5.1 minutes. Moonrtee Sun cay. 0:20 A. M.; moonset Sunday, 4::iS P. M. Barometer (reduced to sea level) u P. M., ;.15 inches. Relative humidity at 5 A. M., 8i pr cent; at noon, ia per cent; at 5 P. M-, so per cent. THE WEATHER. STATIONS. Weathar. .. 24i 2S (.(! . .iNWiPt. cloudy ..J 30 320. IS 14 V !Pt. cloudy . .1 o0! 52 0.00,12 S ICIoudy .. 101 2O-O.00 . .iN'W'Clear . .1 'M' Jis 0.001. .NW!Cloudy Baker . Boise . Boston .Ccigary r-(. if trr. I:enver I oi 2S O.OO . .'NW Snow I'ea Moines. I 32 SS o:n2 . .!X IClear Fureka I 42! 4S 0.3o:20 .V IClear Galveston . .' 001 72 O.oo, WISE IClear Helena I 11 34 0 .(to . . ;N WiCloudy Ji neaut I 301 .'!4 0 . 1 (I 20 , S E Snow Kansas Cltyi 32 50 0.(Vi;i4..VE Clear Los Angeles 501 02 0.00 10 W iRain .Marshfield ..J 50 1404' . . LV W'Cloudy Sledford ...I 33! 44 0.00',. .W Pt. cloudy Minneapolis I Ml 20 0.00 10 W IClear New Orleans' K SO 0.00 10 SW IClear Nw York. . I ! aOO.OOUiSE ilialn North Headl S4. .. 10. (Mil. .! 1 Phoenix ...4S 04 0 .on' . . !S W Rain Jocatello ..i 2l!l 32 0. IB 14'SW IPt. cloudy Portland . 33; 45 0.5s:. .iNW'Rain Roseburg . . . Sacramento St Louis... Salt Lake... San Diego 4ll 4(i 0.20; . .!NE IPt. cloudy 4S, 54 0.02 10 NW Clear 40 4S().()o;. 'E iCIear 34! :S0.UK . .'NWlCIoudy ,4I 5S 0.00 24 VV ICIoudy Franciscol A& 54 00.04 24 NW!Clear Seattle f 3S! 42'0.O(ii. . SB ICIoudy Sitkat I 3o'3(i!0.24l. . lE ICIoudy Spokane ...j 22 : 34 0.001. .jSW IClear Tneoma . 30 42 0.00!.. BE !Pt. cloudy Tatoosh Lsd.l 30! 44 0.0()'..W ICIoudy Valdezt . ... . .16 0.001. .1 1 Walla Walla' 32! 30 0.02 . . SE ISnow Washington I 38! 5V0.02!. .IN IClear Winnipeg ..! 41 4!0.00!..'W IClear akima . ...I - (i.i! to . w near tent already; that it has not been done on a larger scale is Himply an indication that the heads of the banking community ee no necessity for it. that the money market in New York is expected to ease without much help being required from the outside. Trade Recovery Begun. The' general trade situation is a good deal mixed, but there is no fresh ground for pessimism. The movement of industry ist following precisely the lines antici pated at the outset of the year. There has been further price-cutting in some directions, notably in oil. sugar and steel. On the other hand, the motor trade is do ing better, with plants starting up again ail over and the reports from the textile industry and from the distributive trade are better than they were a month ago. from Astoria. COLOMBIA, San Francisco for orient, 50 miles from San Frani'isco. LYMAN STEWART. Sin Luis for Seat tle, 770 miles from Seattle. CHARLIE WATSON. Seatlle for San Frunrlscn. 512 miles from Richmond. HARTWOCU, C.raya Harbor for San Francisco, 5V.5 miles north of San Fran c:sco UOS ; CITY, Poiyland for San Fran cisco. 3S0 miles north of San Francisco. CEI.fl.O. S:m Francisco for Portland, 30 miles north c Cape Hlanco, EGEKIA. Honolulu for Portland. 150 miles south o. Columbia river lightship. WXSHTENAW. Port San Luis for Port land, 1(10 mile.4 from Astoria. ERNES'. H MEYER, San Fru ni'lscn for OF THE American Express Appeal to the discriminating traveler who prefers lo enjoy the best accommodations available and the pleasant companionship of desirable fellow travelers. CRUISES Cruise to Japan. in Cherry Blossom Time Lcavinc San Francisco March 19 on the S. S. "Golden State," calling at Hono ulu and spendinc four weeU amid the scenic Ueliuhtj ot Japan. The party will sail May 3 from Yokohama on the S. S. "Golden State" and arrive May 17 at San Francisco'. Price $1650. TOURS China Japan Sailing from Pacific Coast Ports Jan. to July. Small congenial parties. Visiting: Honolulu. Japan, China, Manchuria,and the Philippine Islands. INDEPENDENT TOURS .Ml care of detail eliminafed. You start with tickets ana coupons cover- Q ing entire trip. Our branch ofiices H i.in4 t lj W rrl, 1 a,-f a vm rr mint. U ible but efficient escort. Send for booklets "Wintet Vacanons,"cover inc the United States, Vet Indies and IVrmuda; "Cruises on the Nile"; American Traveler in Europe. They contain a wealth of valuable informa tion for the traveler. Steamship Reservations Wherever rou travel carrr r!ioe apcniUblc J everywhere American Lxprc Traveler! Cheque Write or call for details AMERICAN EXPRESS CO. J I linrl !. Wnll.er. I), r. A. Cor. Cfh nnd Ouk Ms. 'ortlHiMl. Or. Phone liroutlvtay 5000. TK.WKI.MIS M'lUK. (Travel in WINTER To LANDS of SUMMER STEAMSHIP LINES NOWHERE in the world ii Winter so gloriously Summer as on the East Coast of South America Rio Montevideo Buenos Aires. The colorful, gay life of these Spanish-American capitals, in their verdant settings, is in full swing now. The trip itself is a fascinating voyage thru tropical, romantic seas. Every comfort is provided. Fine steamers of the U. S. Shipping Board. Frequent sailings. Full particulars of any Travel Agency or at the offices of the MUNSON STEAMSHIP LINES ' 82-92 Beaver Street, New York ST. LOUIS BALTIMORE Oregon-Pacific Company General Agents for Holland -America Line and MOMMAISIL Provides regular monthly sailings for United Kingdom and Continental European ports, Japan, China and West Coast South America. GENERAL FREIGHT AM) PASSENGER OFFICES 203 Wilcox Bldg. Main 1565 Portland, Oregon PHILADELPHIA CHICAGO MOBILE tA. J. today. P. M. report of preceding day. FORECASTS. ' Portland and vicinity Probably rain; westerly wind Oregon and Washington Probably rain west portion, fair east portion; moderate winds, mostiv westerly. New York Sugar Market. NEW YORK, Feb. 5. Raw suear 4.64c forcentrlfugal; refined &&5c for fine granulated. 6 (Regular service between Philadelphia, Boston and Los Anpreles. Sa i Francisco. Portland, Seattle and Tacoma via the Panama canaL) North Atlantic and Western S. S. Co.'s 8800-ton steel vessels EAST-iatD. S. S. I.chlch S. S. Vit Tokh. . . 5. S. Brut.li - fot Portland ...Feb. 22 .March HI . . March 25 VESTBO!jNr. From rnm Boston. Phlln S. T.AI.ZA Yen. SI Ib. 2 S. WK!T ISLETA Mar. 7 Mar 1:1 rt. 8. AllTKiAS .Mar. 23,..Mar. 28 I For Further Information Apply to ., THE ADMIRAL LINE. Pacific Coast Ascents, 101 Third St. . Phone Slain K2N1. CALIFORNIA SKRVH'E. S S. CUItACAO. Sails I) P. M. K.-b. lllh for Tons Huy, Kuipka and ran Francisco. Con npctinir with srtanifrs to I.o An geies, Sao Ileo, .Mexico and Cen tral American ports. Rppular fallings from Seattle to southeastern and- southwestern Alaska. TKANS-PAfirir IHLKillT tKK IL'K To all Orifntal Port", t.'. S. Shlpn:ntr Bctarrl A-l Stp Arnenran Vee. SAILING KKO.M Portland S. S. f'OAXKT S. S. MONT Vtil'K b. S. AUKKCOS .-. Krh. 10 ...Mnrh III April 1 For further Information apply to ' PACIFIC KTKAMSIIIP CO.. 101 Third Mrert. Puone Main H2KI STEAMER For 8AX FRANCISCO, LOS AM.KI.KS AMI SAN IIL;0. Hailinc 2::10 P. M. Monday. CHEAP RATES M. HOI.LAM, Airrnt. 123 Third Strwt. Plmne Main AUSTRALIA Honolulu, feuvtt. Ntw geuittnd. The ialtitiul !'UNeOKrr Mraiuera R. M. S. "Niuituru" K. II. ti. "MAKl'R.V" iO.0011 Tona LI..VHJ Tuna Sail fruni Vanrourer, H. c. For ratra anil Killing Hiiplr Can. Par. Rail war. o5 Third St.. I'.irlland. ur Caaaaltan Auatraiubian boc.l Mail Line, 44U be u.our bt Vancouver. U. C i