The Oregon daily journal. (Portland, Or.) 1902-1972, September 25, 1907, Image 11

The Oregon daily journal., September 25, 1907, Page 11, Image 11

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Newspaper Page Text,:.v. ' . .:-..v"--Vv;' THE OREGON . DAILY JOURNAL, PORTLAND," WEDNESDAY EVENING SEPTEMBER 29. WW. 'j Kb BIGGEST PROFIT COAST MEY IS EASIER TO GET BWIGTOIIIIE LUSCIOUS ran - ' r r 1 ' . t , t ; , i J ' IF YOU WANT TO. KNOW WHAT SMARTLY DRECD MEN WILL WEAR THIS SEASON ASK BEN: SELLER III RAISING IBS Not Half1 Enough Produced Last Thirty Days Has Eased Stringent Conditions of Market Materially. LOANS ARE AVAILABLE Now on Regular Eight Per in State to Supply Demand. 1 Cent Basis With Extra Dividend. FEEDING ALSO IS . ROAD HANDLING ENORMOUS TONNAGE ON LOWEST BASIS FOR LEQITIMATE USE Heavy Shipments Made to Coast From Eastern Points Prices Eastern Conditions Are Also Im 11111 Coup in Baying Up Stock, Al though Once Laughed at, Now Looked Upon As Best Piece of Htratcgy Enacted in Rail Circles. 4 proyed and Great Movements of Mere Also Higher Than In Middle West Districts. Crops Will Flood Northwest With I Next Sixty Days. Coast money market conditions have There Is more moner in hoc ' raising In Oregon than any other place in the country. Not only are hogs more eas ily raised here than elsewhere but feed ing does not cost so much. Oregon wheat-fed hogs are among the beat In the country. Hogralsers here are aided In the In dustry by the fact that prlcea are among the highest la the country. At all times hogs atll at a higher price on the Pacific coast than In the east Mid dle west raisers do not receive within lc and sometimes lHc a pound of what the producer of Oregon receives. This high.prlce Is due to the fact that not hall enough hogs are raised in this territory to supply the demand, On every side the call Is more than the supply. Annually many hundred heads are brought In from Nebraska points , simply because Oregon growers do not go Into the business on a more ex tensive acale. . All asree that the shortage la not due to any complaint as to tne price received, but to the. fact that money is su easily made in all lines or nus ban dry hut very little attention la paid 10 any one line of product; except per haps the raising of wheat and hops. With the building of a new livestock center on the peninsula there will be a larger demand than heretofore for hoits and In fact all livestock. The new plants on the peninsula will have a ca pacity of several times as great aa the present output and If the Eoga can be secured the plants will In au probabil ity be run to their fullest capacity. The Pad No coast will hereafter more fully control the oriental provision bus iness. This is said to be one of the chief reasons why the Swifts are con structing the big plant at Portland and why several other large packers are keeping their eye on this city. Packing hogs in Portland will nave the heavy freight charges now being paid to bring the products here from the east and then transporting them by steamer to the orient. The oriental provision trade is really Just beginning to be worked and under the rare of the big packers the trade will be pushed to the limit; Just as Portland 'lour millers first pushed the sale of American flour in China and Japan. All sorts of hog products will be In demand across the Pacific and It l. .said to be the intention of the big packers to raise hogs on their own hook dose to Portland If the producers of Oregon do not come to their relief by bringing out more supplies. Not only will Portland packers sup- fily China with hog products but there s a movement on foot to equip a num ber of steamers with special refrigerat ing machinery and send fresh meats across the Pacific to the orient. This will spell the ruture of the cattle in dustry of the Pacific coast. decidedly improved In the last 10 days, and no croaking can alter the truth of this statement. The situation In the east has similarly Improved. While coast bankers are boosting Interest rates in some cases, wherever they have a good opportunity to make an advanced profit, they are doing It, but this Is not a general practice nor is It meeting with any considerable success. 'W hava this week had offers of all the money we want from two Portland banks, at por cent, for any legitimate uuiise u, saia lentlful in this state at the present I Durni a Portland financier today. "Money la plentiful In this state at the pr time for any legitimate purpose, cannot say It Is plentiful for speculation In real estate, but there is no lack of money for horns building. We are plac ing loans right along for building pur poses, and are loaning on a basis of 50 per cent of the market value of the prop erty. To prove that money la available, an advertisement tnat we placed in tne last week for money Droi applications from people "The placing of Burlington on a reg ular 8 per cent per annum basis to gether with the declaration of an extra dividend of per cent, marks the pass ing of another milestone in the affalra of that road." aaya the Wall Street Journal In discussing the unusual gen erosity of President J. J. Hill In deal Ing with the stockholders of the North em Pacific and Great Northern which roada Jointly own tha Burlington. It will be recalled that President Hill bought the Burlington alx years ago and paid 1200 a share for it, when the road waa barely earning 7 per cent on its stock, and 40 days before the pur chase waa made its stock was selling at tltO a ahare. Mr. Hill was neraiaea iar ana wiae who papers last week for money brought a aosen applications rrom peopif have money to loan. "Tha situation has similarly lmproi In tha east. I know a New York firm that last week made a loan of $40,000 at t per cent where It had previously been getting 7 per cent. New Tork city's Ity per cent bond Issue of 140, 000,000. has all been subscribed, and since the Issue was floated the bonds have advanced three points infthe mar ket. All this shows beyond any dispute that the money market Is easier than It was one or two months ago, end that It Is considerably better than it was last fall, when coast banks were loaning money In New York at 7 per cent." The bank clearings are not showing as large an increase as usual because of the Impending movement of the wheat crop. A little later on. when the money for these crone bops into circulation, tha clearings will be greater than ever be- JAMESTOWN NOT EQUAL TO LEWIS AND CLARK Eastern JSxhibit Inferior in Many Ways to Port land Fair. M. V. Harrison of Henkle & Harrison, - well-4cnown Portland real estate brokers, has just returned from a six weeks' trip east, where he visited the James town fair, Washington. D. C, Chicago, " and other large centers. He also spent - some time visiting his old home at ) Potomac, Illinois, near Danville, the home of Speaker Cannon, Mr. Harrison , sa that the people of Illinois are loyal to the great speaker of the house of representatives and will certainly send a solid Cannon delegation to the next Republican convention. , Mr. Harrison rays that he was die appointed in the Jamestown fair. "They have a great mass of exhibits and some very handsome buildings," said he, "but the enterprise Is even yet in an Incom plete state and the dally attendance Is 1 very light. The management ia not -nearly as competent as was that of the Lewis A. Clark fair. Yet they have somt very interesting sights and I don't regret that part of my trip." , Mr. Harrison says that he couldn't be induced to live in the east again 5 and was delighted when the time came to turn his steps westward. "The peo : Die of the middle west don't begin to ' havo the conveniences of life that we have here," said he. v "I, saw plenty ' bf new 12.500 residences there, that ,were without a bath. I believe such a ' thing Is practically unheard of in Port land or any other Pacific const city. I saw many other things indicating a lack of progress that astonished me." WOODBUKN COMPLAINT ANSWERED BY ROAD (Special Dispatch to Tta Journal) Salem, Or., Sept. 25. The state rail way commission today received the an- swer of the Southern Pacific to charges made by the mayor of Woodburn as to depot conditions there. It says the platform is lighted by two incandescent lights, which are enough. As to there uviiig iiu wo-ivr in ino Biocnyara, 11 18 ald there was equipment on the ground for providing a water supply when the complaint waa made and that a supply will be in the yard iri a few days; more over, only eight cars of stock have been shipped from Woodburn since the first of the year. The answer saya that the establishing of gates at street crossings is a great inconvenience to tha public and an unnecessary expense. fore In the history of he coast. Port land clearings for the week ending yes terday were 17,087,280. as compared to It, 087,762 for the same week a year ago. This years Increase, wnlle very satisfactory for the last week, has not been In the same clasa with the gains shown In pref ous weeks this year. This ract noes not argue in any sense a money stringency, however, but simply a conserving of the cash for temporary uses in the rail movement or crops, it Indicates that at the close of the last crop year and the beginning of the new crop period there la not as much money for general circulation as was visible earlier In the season. The missing sur plus, represented In the crops them selves, will be turned loose during the next 80 or 60 days, and agam the bank clearing In Oregon and Washington will go soaring. A vast amount or building continues to be In evidence In Portland and over the state. There are Industrial develop ments of all kinds, within reasonable limits, but the year will close with no great boom having struck Portland a condition that is 'cairse for congratula tion among the solid business and prop erty Interests of the city. The growth is a steady, reasonable growth, kept witnin tne limits or tne people s means, and so long ss thts rule prevails no set- tmcK is possible ror tnis city. by other railway magnates aa having done a vary foolish thing In paying 100 per cent premium ror me eioca or the Burlinaton. but he and his stock holders have won heavily by the oper ation. Oreat Development Show. Continuing, the Wall Street Journal says: "For purs unadulterated rail road development, and for the advance ment of operating efficiency, there Is no more striking Illustration In re cent railroad history than tha develop ment of tha operating powers of the Burlington system under the manage meat of J. J. Hill and the present oper consisting or ueorge a. I a t whn nam hrmirht nn with the Burlington; Darius Miller and attng staff Harris. president, who was brou able graduates of the ASK REHEARING ON PORT OF COLUMBIA Petition Argues That Dis trict Included Is Not a Municipality. A petition for a rehearing on the Port of Columbia case was filed In the supreme court of the state yesterday by the attorneys for the port commis sion. A former declaration of thi su preme court that "the courts will never exercise the extraordinary power of de claring an act of the legislature uncon stitutional unless there Is a plain, palp able and clear conflict between the stat ute and the constitution," Is brought to the attention of tha court by the petition. In the Port of Columbia case the supreme court held the act unconstitu tional on the ground that the legislature had by special act created a municipal ity, when the amendment to the consti tution says that the voters of each city and town shall perform that service for themselves. The petition for a rehearing argues I that the district, comprised of Mult nomah, Clatsop and Columbia counties, is not a municipality, and that the Port of Columbia act' was not a special act, but a general act, since It undertook to Improve conditions on the Columbia Yiver, a matter of Interest to the entire state. . Daniel Wlllard. Hill school. "When one considers that from 1901, when Hill took charge of the Burling ton, to the present time, there was an 8V per cent Increase In tons of freight hauled one mile with a decreaae or 9 per cent in trains one mils to do this work; in other words the road has more than doubled Its task, and per formed this double task with t per cent less effort. "For Its great prosperity today the Burlington owes more to the appli cation of economic principles of rail roading than to development of trafflo. Had there been no such advancement in operating economy the great develop ment of traffic would have gone for nothing. When the Burlington passed Into Mr. Hill's hands. Its trainload was normally under 200 tons. In 1906 It was 430 tons with good reason to sus- fiect that this year It will reach 600 ons. The gross receipts of the Burlington under Hill rule have Increased more than $83,000,000. In 1901, under the old management the receipts were 160,- 000,000, and in 1907 the estimated re ceipts are JS3.I0O.0O0. The net earn ing!) In 1906 amounted to nearly 121, 000,000 or about 20 per cent on the $110,000,000 of capital stock. "Physically, financially and strategic ally, the Hill roads have In the Bur lington one of the best properties In the west. An extra dividend of Z per cent might very easily be paid on Great Northern and Northern , Pacific stock out- of the surplus earnings of the Burlington. James J. Hill has always been known as a generous trustee. He may be depended upon to live up to his reputation for generosity In the Bur lington matter. It Is the biggest and soundest melon he has ever raised." J , - ;)' waw' U I' l V V'' fe- " I ' t-?-V! 1 i ' ' I ' V 4. f 1 til V 1 " U -li." I i fw. iff i y BY ALL ODDS The largest and best selected stock of CLOTHING in the city at unusually attractive prices Suits and Overcoats $15 to S50 SALESMEN WANTED in all departments BEN SELLING LEADING CLOTHIER OEirXXAI. mOBSST B. X.EB was the greatest general tha world haa ever known. Ballard's Snow Liniment is the greatest liniment Quickly cures all pains, it is wunin tne reacn or an. T, H. Pointer, Hempstead, Texas, writes "This Is to certify that Ballard's Snow Liniment has been used In my house hold for years and has been found to be an excellent liniment for rheumatlo pains. I am never without it" Sold by an druggists. "An East Side Bank for East Side People." A good bank Is the safest place to keep money, and a BANK AC COUNT is a great help toward saving money. IHAR0 MAY ACCEPT PLACE PEAKCE LEFT Seattle tha ident and I t (Pacific Coast Press Letted Wire.) Seattle, Sept. 25. -It Is the belief of several well informed shipping men- in at J. E. Pharo, formerly pres- general manager-of the Alas ka coast company, will succeed W. E. Pearce, who has resigned as general manager or tne h-scinc t oast steamshl company, a connrmation or the repor nowever, could nor De oDtained from the local office of the Pacific Coast Steamship company. It has been known for some time that the Pacific Coast company' haa been endeavoring to have Pharo reenter .the services of that com pany. : Itching piles provoke profanity, but Srofanity won't cure them. Doan'a Intment cures Itching, bleeding or Jirotruding piles after year of auffer ng. At any drug store. HARTMAN & THOMPSON BANKERS CHAMBER OP COMMERCE solicit small check accounts and offer every convenience to depositors, re gardless of the amount deposited Vnlimittd Perianal Liability A CHECKING ACCOUNT facili tates the transaction of business. A SAVINGS ACCOUNT earns money while saving it. Interest at 4 Per Cent At the COMMERCIAL SAVINGS BANK JCKOTT AITS WILLIAMS ATS. Oeorge W. Bates President J. S. Blrrel , Cashier SAVINGS BANK OF THE TITLE GUARANTEE & TRUST CO. OPEN ON SATURDAYS FROM I A. M. TO I P. M. AND ON SATURDAY EVENINGS FROM 6 TO I O'CLOCK. WE PAY 4 INTEREST On Savings Accounts, Interest Com pounded Semi-Annually. WE PAY 3 ON DAILY Balancea of Check Accounte. OFFICERS: THORBURN ROSS - - President GEORGE H. HILL - Vice-President T. T. BURKHART - - Treasurer JNO. E. AITCHISON - - Secretary 240-244 Washington Strett (Corner Second) PORTLAND, OREGON FIFTEEN HUNDRED DOLLARS In PORTLAND HOME TELEPHONE .BONDS and STOCKS costs you $1,000. You ougKt to make $7 per cent profit within a year. ;' EXAMPLE. $1,000 Bond, 5 per cent guaranteed. 850.00 $500 Stock, 4 per cent dividend. f 20.00 Saleof Stock at $60.00... . .fSOO.OO Profit ..$370.00 And you will have left a-$l,000 first mortgage, drawing 5 per cent, which will be paid in full at maturity. Larger amounts, same ratio. W. '0. POOR. 5 Lafayette Building Bankers and Lumbermens Bank Corner Second and Stark Streets PORTLAND, ORE. CAPITAL STOCK, $250,000.00 orncLRS O. K. WENTWORTH President H. D. STORY Assistant Cashier F. H. ROTHCHILD . . 1st Vice-President PLATT & PLATT General Counsel JOHN A. KEATING, 2d Vice-President and Cashier. G. K. WENTWORTH. President, President Portland Lumber Co. CHARLES a RUSSELL. Dant & Russell, Lumber. Director Commercial Bank, Hillsboro. P. S. BRUMBY, Agent Blodget Co., Ltd. Director Booth-Kelly Lumber Co. DR K. A. J. MACKENZIE. Chief Burgeon of tha Oregon Railroad & Navigation Co. DIRECTORS GEORGE G. BINGHAM, Attorney, Salem, Oregon. Vice-President Bank of Wood burn, Woodburn, Oregon. LLOYD J. WENTWORTH, Vice-President Portland Lum ber Co. 3. S. WHEELER, - Secretary Wheeler Timber Co, FRED H. ROTHCHTLD. First Vice-President, President Rothchild Bros. JOHN A. KEATING, Second Vice - President ana" Cashier. ROBERT T. PLATT, Piatt A Piatt, Attorneys. Vice-President Peninettla Bank, St. Johns, Oregon. H. D. STORY, Assistant Cashier. Substantial Endorsement When such able and successful business men as Marshall Field have found it to their best interests to engage the services of trust companies in the care and disposition of their vast estates, should not you give the matter careful consideration ? You cap direct the care and disposition of your estates, both real and personal, and be assured the trust will be carried out implicity and economically. Let us advise with you pertaining to your prop erty interests. Merchants Savings and Trust Company 247 WASHINGTON STREET. CAPITAL FULLY PAID $150,000.00 T. Frank Watson President R. L. Durham Vice-President W. H. Fear Secretary S. C. Catching.. Assistant Secretary O. W. T. Muellhaupt Cashier WB M. Laoo Poea. W TNaftBWMoaVP.. Lumbcm ExCHANOt cWlLOINO w ti-f ma I 1 ttlV OUR NEW POLICIES OFFER ALL THAT IS BEST IK LIFE CONTRACTS EITHER TO BUY OR SELL, , Low Non-ParticipaUag Rates , . High Cash Vfcs SUPERIOR INDUCEMENTS OFFERED TO RELIABLE ACTIVE AG -NTS. An rasas svaarjijup, su s,nhr rohaga em. jouenal unees cost little, .cco:::5li::i :;l'ci: