3
of Commerce at St. Johns was ap
proved today by Frank Bramwell.
state superintendent of banks. The
business hereafter will be conducted
under the name of the Peninsula bank
of Portland.
The Bank of Commerce is a reor
ganization of the First Trust & Sav
ings bank, which was chartered June
24, 1912. The resources of the Bank
of Commerce at the time of the con
solidation aggregated $160,000. The
Peninsula bank was organized in the
year 1905 and was nationalized in
1912. January 1. 1917, it effected a
consolidation with the First National
bank of St. Johns.
The Peninsula National bank will
have a capital, surplus and undivided
profits of approximately (260.000. de
posits aggregating 81.800,000 and re
sources amounting to $2,300,000.
CUT IfJ RATES BOGEY
ra 1 A i Roberts Bros.
Special Announcement
Employes annourtcV their Annual Party
the Multnomah Hotel Monday. Oct. 31. at
Friends and acquaintances invitea.
BETTER T
T
aeacl
cfecAcaces
MAIL ORDERS CAREFULLY
AND PROMPTLY FILLED
PARCELS POST PACKAGES
PREPAID ON $5 PURCHASES
IIII1III!II!111II!1II1I!II111IIIIIIII111IHI
The Store That Undersells
Pecline in Interest Rate Af
fects Everybody.
Rumor of 15 Per Cent Reduc
tion Suspends Buying.
We Are Agent for the
Butterick Patterns and
the Delineator All New
Styles Are Now Showing.
The "Dehor" Feature of
the Butterick Patterns Is
Proving of Great Assist
ance to Home Sewers.
1 s yWffi,2sL
Because It Sells for Cash
SAVING AGGREGATE IS BIG
ATTENTION GIVEN CHINA
TTTE SUNDAY OREGOXIAX, TORTLANT). OCTOBER SO, 1921
S TUMBLING
Cat of One Per Cent in Rate Means
More Tban 924,000,000 Year
ly to government.
BT HARDEN COLFAX.
(Copyright. by Th Oresonlan.)
WASHINGTON'. D. C. Oct. 29.
(Special.) The price of money 1
tumbling. There was a time when
an announcement of this sort meant
nothing to the mass of the people
It was but a sign that the men of
Wall street would have more and
cheaper funds to play with. But each
time money takes a drop now It
means millions of dollars to the plain
people of the United States, for fall
ing money carries with it an en
hancement of the value of each lib
erty bond issued by the government
of the United States. It means fur
ther that the government is enabled
to borrow money at lower rates to
retire short-time securities at much
higher rates.
The easing up of money this week
enabled the treasury to lower interest
rates 1 per cent on a new issue of
certificates.
The new issue of treasury certifi
cates and one-year notes is open to
public subscription until next Tues
day. The amount of the issue of
$200,000,000. The Interest rates are
414 and tH per cent, according to
whether a short or longer obligation
is purchased. Six montljs ago the
same sort of obligation was offered
to the pub.ic at interest rates of 5,
54 and 6V4. depending upon matur
ity of the obligation. The cut in six
weeks' time, therefore. Is 1 per cent.
8ubrrlbers In Stasnpede.
Incidentally the interest rate Is
the lowest offered since the liberty
loans were floated. It Is 25 per cent
lower than the highest rate the gov
ernment had to pay on borrowed
money, which was ' per cent. In De
cember, 1U20. And the public Is
rushing In a miniature stampede to
take the new certificates. They will
bo heavily over-subscribed, according
to all indicationii today, three days
before the subscription books are
closed.
One per cent sounds small, but as
a saving It is about the biggest thing
Washington has witnessed in a finan
cial way since before the war. If the
saving of 1 per cent were applied to
the interest the government has to
pay on its floating debt alone It
would mean a lessening in the high
cost of government of more than
$24,000,000 a year on the floating debt
apportionments or J2.230.000, 000.
From the response to the secre
tary's offerings of securities it is
apparent that the lower rates are
here to stay and that fur a long time
to come no government Issue of cer
tificates or short-term notes will
Dear more than 4t4 per cent. A
most of the floating debt is to be
retired within a comparatively short
time by flotation of other issues
whose proceeds will be utilized to
pay off the maturing obligations, the
saving of 1 per cent will become, a
reality on the entire floating debt
within a year or 18 months.
Bond Trend Is Vpward.
Mr. Mcllon's shrewd financial
cheme in cutting the interest rate
will mean inevitably. In the Judgment
of officials, a further sharp rise In
liberty bonds, now upward-bound
toward par, and In addition. It is
thought, presages still lower redis
count rates and cheaper money at
the federal reserve banks. It also
means, financial experts assert, a rise
to new high levels of gilt-edge bonds
other than securities Issued by the
government.
Circumstances which made It pos
sible for Mr. Mellon to execute his
stroke of economy at this time in
clude a rise in the federal reserve
ratio to more than 70 per cent, or
more than half as much again as it
was slightly more than a year ago,
and a big increase In the amount of
money which the depositors of the
nation have put Into the banks of
the country within the last few
weeks.
The federal reserve board's figures
show that the country now is bank
ing money. Until recently It had
been checking it out of the banks.
Reports from 800 national banks to
the board, as of October 19, show
that Investment deposits subject to
check rose more than 8300,000.000 in
two weeks and once more are back
on the high side of the ten billion
dollar mark. They still have more
than a billion dollars to go to reach
the fat balance of December last. But
since lust December they have been
almost uninterruptedly on the down
grade. Their upward turn Indicates
a further healthy advance toward
normal business conditions.
BOY SCALDED TO DEATH
IftiUas Child Falls Into Steaming
Cesspool of Packing Plant.
DALLAS, Or.. Oct. 29. (Special.)
Charles Weigant, 6-year-old son of
Mr. and Mrs. Joseph Weigant of this
city, fell Into an open cesspool on
the property of the Oregon Growers'
packing plant, and was scalded to
death today. The pool was the re
ceptacle for hot water from the plant.
The child was seen playing In the
vicinity of the pool in the course
of the afternoon. His family did not
miss him until time for supper. The
body was found by workmen from
the plant. The boys father is an em
ploye In the Southern Pacific shops
here, and the family lives near the
packing plant.
EOF
WEST SIDE IiOOP CHRISTENED
MEMORIAL HIGHWAY.
Meeting Held at McMinnville Is
Unanimously in Favor of
Honoring Veterans.
McMIXNVILLE, Or.. Oct. 29. (Spe
cial.) The organization of the Ore
gon Memorial Highway commission
was completed at a meeting of dele
gates from the various towns along
the west side loop highway held at
McMinnville today. The Idea was
originated by the Woman's Adver
tising club of this city and has been
carried through by the persevering
efforts of the chairman, Mrs. Winnie
Braden, and her assistants, Miss Le
nore Shulte and Miss Mamie Zielel
man. The residents of McMinnville and
Newberg disliked the idea of relin
quishing the name of the Pacific
hig-hway, but were convinced of the
greater value of the name Oregon
Memorial highway, so the name was
adopted unanimously.
The road accordingly was re
christened in honor of Oregon sol
diers who served In foreign wars.
The change was suggested by a com
mittee composed of the following: W.
T. Vinton. It. J. Moore, W. B. Dennis.
G. S. Wright, S. B. Vincent, Paul
Abraham and O- B. Gates.
The next meeting of the association
will be held In this city November 10,
when reports will be reecived from
the following' committees:
State highway commission W. B. Den
nis. Carlton: Major E. J. Eivers, Portland;
Senator Vinton, M cMinnville ; Mrs. Braden,
l'ortiand: Paul Abraham, Forest iirove;
Mm. C. W. Kollins, HUlsboro.
By-laws and constitution Paul Abra
ham, chairman; O. B. Gates, HUlsboro;
Miss Ella Hendrick, McMinnville; 8. M.
Calkins, Sherwood; Mrs. Elizabeth Brune,
Portland.
Beautifying the highway R. J. Moore,
Newberg; Mrs. Frank Holmes, McMinn
ville; C. W. Rollins, HUlsboro; Mrs. (i. A.
Wilcox, Cornelius; Mrs. W. B. Dennis,
Carlton; Mrs. M. C. Williams, Yamhill;
Mrs. A. B. Todd, Forest Grove; O. T.
Stapleton, Gaston; J. U. Smith, Newberg;
Mrs. Harvey O'Brjan. Portland.
The Portland Woman's Advertis
ing club has pledged lUelf to plant
the memorial trees representing the
women of Oregon who made the su
preme sacrifice In the late war, and
it Is proposd that a park space for
this purpose be obtained at some
place near the half-way point of the
loop and dedicated to Oregon women.
McMinnville Veterans Lay Plans.
McMINNVILLE, Or., Oct. 29. (Spe
cial.) McMinnville Post No. 21 of the
American Legion, has been placed In
charge of the celebration to be held
In this city Armistice day. All the
business houses will close at noon.
A parade will be staged about 2 P. M.
and lead to the high school athletic
field, where Commander Glldea and
Mayor Houck will make addresses.
Evelyn Xesblt Recovering.
NEW YORK, Oct. 29. E-velyn Nes
bit was reported today as almost
wholly recovered from the effects of
an overdose of drugs, swallowed yes
terday when a city marshal began
to move furniture from her tea room
nd apartment here.
3
V 2-
HALL GAS
FLOOR HEATER
Clean, healthful furnace heat at
minimum; cost
$65.00
Terms if desired.
HALL GAS FURNACE CO.
Main 7065 167 Park St
Just south of Morrison.
GOVERNOR LIKELY TO RUN
Mr. !. u Intiauates He Will Seek
Itr-rlcctlon to Office.
SALEM. ir , Oct. 29. (Special.) "I I
Ira' noth'.i .ir else In. mind. If I did
twt run fur governor I don't know
wfe-tt I wou d do."
This was the statement made by!
Ooternor Olcott today when asPkd I.'
he would be a candidate to succeed '
himself at the republican primary!
e-ection.
Krlends of the governor accepted
this statement to mean that the exec- i
utive had decided to make the race
for governor.
DANCINGtaught
AT DK HONEY'S PRIVATE SCHOOL,
pinners class starts at
cotillion hall, nth at
WaehintTton. Wednesday
evening at 7 sharp. All
dances taujrht as danced
in the ballrooms in eight
lessons: Ladies $2.00. gen
tlemen $5.00. Private les
sons all hours. Beginners'
classes start at Murlark
hall, 23d at "Washington,
Monday evening. Ad
vanced classes. Tuesday
and Thursday evenings, 8
to 11:30. Plenty of prac
tice, no ' embarrassment.
You can never learn danc
ing without practice. Join the lead
in school. Phone Broadway 2002.
YJS" SI
Boom Predicted to Move From
Japan in Next Two Months.
Business Wanted.
VANCOUVER, B. C, Oct. 29. (Spe
cial.) .No sooner is the bogey of a
railroad strike gone than the possi
bilities of a reduction in freight rates
appear to halt shipment ot lumber
east.
Buyers hesitated last week for fear
their lumber would be held up for a
month or two in transit should the
roads cease to operate. Now comes
the report that a reduction of about
IS per cent in the transcontinental
rail rate is under discussion and
again the buyer has suspended his
purchase in hopes of taking advan
tage of the reduction.
This condition in the British Co
lumbia lumber market does not ex
tend as far east as the Atlantic coast,
because recently that market has
been heavy with its Inquiries of local
manufacturers for lumber of all
grades, particularly top grades and
clears. In the petition presented to
the interstate commerce commission
asking for lower transcontinental
rates It was said that such a reduc
tion would put 60,000 men to work
In the lumber and railway industries.
Large Orders) Booked.
Several large orders for lumber to
go via the Panama canal to New York
were booked this week and will do
much to taking away the side lumber
fiom the big stacks being cut for
export order.
The mills have enough of this big
stuff, such as Jap squares and large
timbers, on order to keep them busy
until December 31, and several mills
have been forced to put on night
shifts, among them being the big
Dollar mill at Dollarton. The cur
tailment in cut this week amounted
tc only 15 per cent, the lowest in
two years.
An inquiry came in this week for a
large car stock order running more
than 1,000,000 feet and consisting
principally of common, select com
mon for framing and Mills and clear
grades for siding, roofing and floors.
Car siding prices have jumped out of
reach.
California Buying Heavily.
California has been buying heavily
this week, but in parcel lots, with
standard California specifications
bringing $13.60 a thousand and clears
aa high as 45.
Any buying that is being done by
the central states is material that is
absolutely necessary. It Is in mixed
cars for actual stock replacement or
for actual orders,, but nothing for
speculation.
The two big ereosoted tie inquiries.
An Exquisite Assortment of Our
Own Importations
Our European representative has selected
and forwarded to us from the various capi
tals and fashion centers of the continent, an
exquisite assortment of bead necklaces.
Quite unusual in their cutting, matching
and brilliancy of color, these necklaces yn
crystal amethyst, onyx, genuine Whitby jet,
jade, genuine amber, opal and other stones
are the season's latest vogue and as gifts
are delightfully acceptable for feminine .
adornment.
Many other beautiful novelties have also
arrived from overseas, including an elab
orate display of Dutch Bilver.
Your inspection cordially invited.
AihQ.
Jewelers - Silversmiths -optician
ESTABLISHED lOM
ASHINGTON ST. AT RABK PORTLAlCD.OE-
one for 40,000,000 feet for India and
one for Brazil amounting to 35,000,000
feet, are still unplaced.
As an Indication of how indifferent
the sawmllis are to business for ex
port markets, an offer reached the
local brokers this week which gave
Jap squares at J21 to the mills and
for January cutting, but this was re
fusod. Several of the local brokers
are turning their attention to China,
believing that the boom In buying
of lumber will move from Japan to
China in the next two monthB, and
the Chinese markets will keep the
mills busy all spring.
RESCUE OF 45 REPORTED
Captain Pearson Sends Radio Mes
sage About Crew of Fnkul Mam.
SEATTLE, Wash., Oct. 29. (Spe
cial.) "Received on board 45 destitute
seamen, entire crew of Fukul Maru,
which was abandoned in a sinking
condition."
In this message, with no word for
his own daring or his splendid sea-
master of the steamship West Ivan, in
a wireless message nouziea r ran
Waterhouse & Co., his employer, of
his thrilling rescue of the"officers and
crew of the sinking Japanese steam
ship Fukui Maru in a terrific storm on
the Pacific ocean Thursday evening.
The latest bero of the North Pacific,
it was pointed' out by shipping men
.vtcntlv rnT)iilAri that hA did noth
ing extraordinary, but old navigators
declared mat nis rescue me Japa
nese seamen adds another great page
to the annais oi me American uiei
chant marine.
The Oregonlan publishes practi
cally all of the want ads printed in
the other three Portland papers, In
addition to thousands of exclusive
advertisements not printed in any
other local paper
III i "if - - . - - . . . ill
ir mill
sigra
en
DANCE TONIGHT
BOAT BLUE BIRD
NOW AT
Sellwood Ferry
Take Sellwood, Oregon City, Mil
waukie cars to Spokane avenue.
Dancing 7:30 to 11:30 P. M. ,
Come and go as you please.
25c?
BANK MERGER APPROVED!
I'pnlntsulu National and St. Johns
Institution to Join Forces.
SALEM. Or, Oct. 0. (Special.)
Consolidation r the Peninsula Na
tional bank of Portland and the Bank
mm.
Your Eye
r
We Are Experts on
Eyesight Troubles
Let Us Examine
Your Eyes
THOMPSON'S
Deep-Curve Lenses
Are Better
Trademark Registered)
Save
Your
Eyes
i
f
j I "
; ' ' ' fV :
V""" 4
a,
i
Dr. R. A. Thompson
THOMPSON'S
Dee-p-Cnrve Lenses
Are Better
(Trademark Registered)
Save
Your
Eyes
Los Angeles, California,
September 14, 1921.
TO IY FRIENDS AND PATRONS:
I wish to state that the THOMPSON OPTICAL INSTITUTE has
secured the EXCLUSIVE RIGHTS for the city of PORTLAND to use the
"R. A. THOMPSON SYSTEM" in all eye examinations. You now have an
EYE-GLASS SERVICE that cannot be excelled anywhere in the WORLD.
The "R. A. THOMPSON SYSTEM" of examination and instruments
represents the last word in SCIENTIFIC RESEARCH.
Yours for the Conservation of Vision,
(Signed) DR. R. A. THOMPSON.
Thompson Optical Institute
(JfOT A SCHOOL)
"For the Conservation and Betterment of HUMAN VISION"
201-202-20a-204-203-206-207-208-209-210-211 Corbett Building;
Charles R. Rusco, President and General Manager
Established 1908
Second Floor FIFTH AND MORRISON STREETS
13
II fill I Tl
i it i n
a U 1
Surprisingly Great Values in
Our November Sale of
Dress and
Suit
Fabrics
The particular materials all wool wool mixed silk or silk mixed
the shade or patterns of the goods for your new coat, suit, dress
or separate skirt or jacket can be safely selected from our gceat
displays with the assurance that you will secure fabrics of standard
quality correct in weave and weight and underpriced in a manner
k that will immediately appeal to the
thriftv shoriDer. Here are iust a few
of the items for your consideration
SILK DUVETYN $6 YARD
36'Inch
A new shipment of this extremely
fashionable fabric 'just received, includ
ing all new and staple colors.
Three Underpriced Lots
of Fine All-Wool
PLAID, STRIPE SKIRTINGS
at $1.95, $2.95 and $3.95 Yd.
Our entire stock of these fine materials now
divided into three great lots and underpriced
as above. You have unlimited choice in plaid
and stripe styles in color combinations to suit
every taste. Values are far out of the ordinary,
as you'll readily agree when you see these
fine skirtings.
CHIFFON DRESS VELVETS
Now $S0 Yard
One of the leading fabrics for streat and party
dresses, beautiful high-grade Chiffon Velvets that
drape in the most pleasing manner. They come in all
correct colors, including black, and are 40 inches wide.
A matchless quality at the above price.
Here Are the Leading
WINTER COATINGS
With a Quotation of the Low Prices
at Which We Are Selling . Them.
Read's Capealine at $6.00 yard
Yalama Cloth at $4.00 yard
Velvet Suede at $6.00 yard
Wool Duvetyne at $0.00 yard
Chamois de Lux at. $3.00 yard
Amora Cordettes at $6.00 yard
Bolivias at $7.50 and $8.50
All pure wool 56-inch Coatings in wanted
colors and correct winter weight.
At This Sale We Specialize on
i Women's Coats $25 i
Just In! Jersey
SLEEVELESS
DRESSES at $5.95
One of fashion's latest and most
popular Dresses made of fine 12
ounce Jersey cloth and phown in
sleeveless styles. Sizes 16 to 38
in brown and navy.
Included Are Both Belted and Loose
Back Models in Sizes 16 to 44
The biggest values in our November Sales are to
be found in this special offering of, women's fashion
able Winter Coats at $25.00. The materials are fine
' Velours and Rivolas in popular shades of brown, navy,
reindeer and sorrento. The styles are the best in loose
back and belted models and you have choice from all
sizes from 16 to 44.
Save From 50c to $3 Pair at This
1 Great Corset Sale
"H i
CORSETS AT $1.00 PAIR
'."" S AT $1.95 PAIR
CORSE VS AT $2.50 PAIR
CORSETS AT $2.05 PAIR
CORSETS AT $3.95 PAIRJ
In these assortments are such fa
mous makes as
Rengo Belt Bon Ton R. & G.
Lady Ruth La Princess Hender
son Merito Silk Maid and Grand
Duchess.
See the Display in Our Main Aisle, Main Floor, Corset Section.
are four fancy Bandeau Cloth and Brocade mod-
els. Three sport and one for the average figure, :
At S1.00
sizes 22 to SO.
Aj. P1 are nine models for sport, the average and the s
Dl-JO stout figure. Pekin stripes, heavy coutil bro-
cades; sizes are 21 to 36.
A are seven m0(lels of average and stout figure and
i.L (DmiJi7 sport model; mostly heavy coutils. EE
A j. (PO QfT are nineteen models. Many are less than Half
iL tDLiVO price. Sizes 20 to 36. In every conceivable model :
and material finest coutils, rich brocades and satins in front and
back-lace models. This is truly a wonderful showing of high- EE
grade corsets at a sacrifice. EE
A j flJQ QCI are close-outs of the best selected brocades and EE
fL tSOZfJ fine pink coutils; both average and stout and EE
several of the finest sport models, sizes 24 to 36. For the stout
figure here are indeed some marvelous values. sz
m New Winter Weight Wash Fabrics I
72x84-lnch
Cotton Blankets
at $350 Pr.
Extra large and heavy gray
Cotton Blankets, 72x84 inches
a special lot slightly imperfect
in weave but no holes; excep
tional values at the above price.
Comfort Challies
at 19c Yd.
Another splendid assortment
of Comfort Covering Challies
just received in attractive styles
and colors.
New Styles New Prices
On Old Reliable Qualities
Another pleasing feature is that you'll find these goods con
veniently displayed on center aisle tables where you can see at a
glance the pattern or color which you might like best.
Kimono Crepes
at 35c Yd.
An extensive variety of pat
terns in all sorts of pleasing
color combinations.
Silk-Mixed Fabrics
at 69c Yd.
Both plain colors and bro
caded styles for dresses, blouses,
kimonos, linings etc. All 36
inches wide.
.
i, ' T,-nr mark ... ""
Velour Flannels
at 25c Yd.
Dark colored patterns in neat
designs for kimonos and
blouses.
CHEVIOTS
at 19c Yd.
Percales and cheviots in both
light and dark colors in an ex
tensive variety of patterns.
Women's All-Silk Revelation Hose
$325 Pair
Made of pure dipped silk, full fashioned with
lisle line garter hem; colors are black, cor
dovan, African brown, Russian calf, castor and
gray; sizes 8 Vt to 10.
Women's Silk and Wool Revelation
Hose $2J50 Pair
Made seamed back, seamless foot with rein
forced heel and toe in cordovan, brown green
and brown blue heather mixtures; sizes 8
to 10.
Women's Silk Revelation Hose
$1J50 Pair
Seamed back, seamless foot, reinforced lisle
heel and toe, lisle top and wide garter hem;
colors are in black, cordovan, Russian calf and
medium gray; sizes 8 to 10.
Three Trade-Wanning Specials in i
Our I
Men's Section
Flannelette Night Gowns at $1.45
Fine gowns cut long and full in French styles;
all sizes in neat patterns. E
Men's Flannelette Pajamas at $1J9
Pajamas with military collar and loops; all E
6izes in assorted patterns. '
Four-in-Hand Ties, Two for 25c
Open end Ties with slip-easy band; an ex- E
tensive variety of patterns. z.
Ill!I!l!IIIi!II!IIII!IiIII!ll!I!H