I..... f THE OREGON DAILY JOURNAL PORTLAND, THURSDAY EVENING, JANUARY 2I 1809. GREATEST YEAR; IN CITY'S i INDUSTRIAL HISTORY Manufacturers Association Holds . Its Annual Meeting , and .Hears Some Interesting Reports From Its Of- : ! ficers J. N". Teal Talks on Transportation. ' "Th past year has bean the greatest In Industrial development that our city has ever experienced. Oreat manufac tories, have been established, and still greater ones have begun to be erected. Transportation f acllitres have been largely Increased and improved, opening up to us broader fields of markets. The renown of our city as a great manufac- unna- ana aiatrinuting center nas Deen ore llrmly established than ever be- tore. ,.- . .. .. v -. '. These -were the onenlnor -words of the f annual report read by Fletcher Linn, the .. icuiiujc iKvntueni gi me juanuiitciurers .. association at the annual meeting held in Allsky's hall last night. The hall was i completely filled with from 150 to 200 j representative manufacturers and cltl sensv Continuing In his report, Mr. Unn ; said: - . . - .... . ' ' "I have 1een especially gratified at . The growth arid progress of the new iri . dustries which our association has re ' cent?Z. brought into our city. The Ore gon -Chair company, the Star Brill Ma chinery company the Mirror Plate Facj.' -tory-of the Central Door A Lumber com pany, and the-Petttt Feather & Bedding - company are a credit to the Judgment of . .im jauu(oiurr association. ; Business In the aCUUons. . - "In the three years during which 1 have served as nrexldent, nf tha Uann. i faoturers' association we have estab- iisoea in Fortland factories represent- inr an investment of ovr tSOhooo. ind which are doing an annual business of not less tnan j&oo.ooo. In the past 10 years industries have been established '. here through the dlreot efforts of the : association representing an investment of over $1,000,000. In locating the Doernbacher Manufacturing company here this association has in an indirect way made-.Portland the furniture center of the Pacific coast." President Linn severely criticised the - annual report of O. P. Hoff. state labor commissioner, ror saying, that "the onlv effective arbitration is the strike or lockout." He characterized such lan guage as an injury to peaceful industry and declared that the labor commis sioner is out of tune with the progress or industry, ana is sounaing again tne discordant note which the whole indus trial world is today trying to avoid. President Linn emphasized the neces sity of increasing the membership of the organization. He thanked the papers or tne city ror tneir loyalty in constant ly urging the people of - Portland to patronize home Industries and to give f ireferance to the products of local rao orles. Beport of Secretary. In the report of Secretary S. B. Vin cent, after enumerating the various manufacturing plants . that have been located here in the past year and call ing attention to several enterprises seeking to enter this field, which for various reasons were refused the In dorsement and aid ef the Manufactur ers' association, points out the fact that the Portland association was the first organization in the United States to challenge the right of the railroads arbitrarily to advance freight rates until their reasonableness could bo passed upon by the Interstate commerce commission. The secretary's report also claims credit for the association for inducing the city council to increase the. equip ment of the local fire department. The report also says that the Manufacturers' association carried the fightfor the "Made In Oregon" materials for street navements to the city council and start ed a controversy which resulted in the withdrawal recently from this field of the Drinclnal foreign company and victory for the "Mads in Oregon" pav lng material. XMrectora An Sleeted. Following the readina- of the reports, the huminess nf the association wan taken up. The nominating committee re nor ted the following names ror airee tors: Dan Kellaher, T. S. Mann. Fred Tonsing. W. H. McMonlcs, John Montag, F. I. Knlsrht. D. M. Dunne and W. C. H levers, all of whom were unanimously elected. The directors will meet the first Tuesday in February and elect the officers- ror, tne ensuing year. President Linn f named a committee on legislation, as follows: C. C. Callan, a if. rtavera and Geora-e Laurence Jr. This committee will meet next Saturday afternoon to map out a program xor op posing several measures now oeiore tne legislature. J. N. Teal, who made one of the prln cipal addresses of the evening, was elected an honorary member of the asso ciation. Among the other speakers of the evening were w. Wynne jonnspn, (General fharles F. Beebe. Colonel D. M Dunne, Herman Wittenberg, A. IL De- vers and A. C Callan, ., Tlk oa Kallxoad Bate. Amnna other thtnes' Mr. Teal said "The recent funeral advance In rates, the discussion of amendments- to the act to regolate commerce and the vari ous investigations which have taken niara in lata vears all have had a ten dency to localise public attention on the subject of transportation, and there is gradually getting to ba a better undrr .t.ntlnv nt mrhat t r nonnrta t Ion really means to the country, as well as tlTtf natiira of the service rendered. -Rata maklna- in and of Itself Is In the nature of expert work, and long experience Is required before anyone tan hope to be practical rate man. Not only should one have technical rail road experience but he should have a thorough knowledge as well of busi ness generally, the products of differ ent parts of the country, the necessi ties of one community, and the ability of another to supply them. "In modern life rail transportation is a necessity, if one charge is exacted from one . person and a different onej from another, it may mean success for the one ana ruin lor tne otner. ana as facilities may be" furnished more read ily to the one than to the other, ad vantages may be be given one Individ ual or community as against -anomer. The power to fix the rates in the first BREAKS A COLD IN A DAY And Cure Any Cough That Is Curable, Hoted Physician's Formula, Mix one half ounce of Concentrated , pine compound with two ounces of gly cerine and half a pint of good whiskey. Shake It thoroughly and use in doses of a 'teaspoonrui to a tabiespoonrui every four hours. The above formula is one of the very best remedies obtainable for an acute cold. It will strengthen the lungs, re lieve coughs and heal the bronchial tubes, and it will cure any lung; trouble tint too far advanced. These Ingredients are procurable bf any good prescription druggist and easily mixed at nome. The Concentrated bine Is .a refined pine product for medical use, and comes only In half ounce bottles, each en closed in a tin screw top case which Is air tight, but be sure it Is labeled "Con centrated." A prominent local druggist says he has filled this prescription hun dreds of times during the . winter months. ... . BErONE"OF ' A 1DRED ASK OLUMBIA.TRUST OTIRVNn instance and thus very largely control the business of the country ia at pres ent lodged In the hands of a few men without appeal until the rates have gone into erreet, ana tne aamage uone. $ : Modem Toll Boads. . Mr. Teal then discussed the practices bf both railroads and shippers in the past; the matter or giving ana receiv ing rebates, securing: special privileges, etc He then stated that transportation had .always been and always will be' a public Dusiness. 'J. nat runaamentaiiy, it is the business of the state, and with out the power of the state, o railroad could operate. That railroad ' is the modern toll road: that country roads state roads, canals, etc., are built and operated by the public, and In princi ple there Is no difference between the rail highway and any other method of transportation. .iuat mow uiubi un ficulty has ' been , that the carriers while desiring to exercise the attributes of the sovereign, objected to exercising them as agent, but wanted to exercise it as principal. This never" can be per mitted, and this is the real conflict that Is going on between the carrier and the public, that may ultimately end In pub lic ownership, and certainly will unless the right to regulate the carriers in the interests or tne public is xuliy conceded. "To charge one rafe to one person and a different rate to another," he continued, "is the same as though a court levied taxes of different amounts against different men in the same com munity on the same kind of property, "When one devotes their property to a public use they do. It with their eyes open. TDey receive great advantages, but must accept the obligations that go with - them. It Is generally conceded that those most responsible for the growth of the sentiment towards public ownership are the railroads themselves. ana run tne people. Increased of Manufacturers. 'No one can be more interested In the rate question than are manufactur ers. What is of nei'.llllnr imnnrtanca la that they should have fair distributive rates in oraer to reajch territory con tiguous to them or something; like an equal basis with their competitors. The uunurnmiiy ana inaeiensively high dis tributive rates now in effect in thi3 state and in the northwest generally have heretofore been attemnteH tn he justified enly on the 'grounds that the railroads were tnus enabled to give low east and west bound through rates, but tn the light of ihe recent advances, tlilb justification no longer exists. "Another thing that has been pressed upon the attention of the manufacturers as well an others interested in the rate situation Is the fact that by changes in raiua u me classification as well as In groupings, the tendency has been to piace tne manufacturers here at a dis advantage, as against the manufactur ers in the east. The consequence has been a continuous limitation of the ter ritory naturally tributary to the manu facturers .of the west, without any cor responding advantage In the way of luwc-iiu tueir aistrioutive rates. "The problem, therefore, would seem to be to sscure reasonable rates on raw materials ' coming In and reasonable rates On the mannfil.rtllre artinlea mn- ing out. This fact has been recognized vi sumo Liiue uv 1 1 1 f. iranannriaf nn committee of the chamber ef eommeree. and tneir efforts in this respect have Deen obsignated by some as a "Jobbers' fight or "sroceira' " flirlit onH fha n in ference bronrllv th rown All th tt 4a a "iff" propositi on on tne part of the juuumg interests. Fight for the City. "As a matter of fact the fight, if it be so called, Is one on behalf of this city and particularly on behalf of the manufacturers. Through the use of irruuin n ana out the manufacturers may help thMneelves materially, -but at the same time, because they can do this furnishes no excuse for unreason able rates In the past a great deal of attention has been rightly given to the shipping- interests of the city, but with out minimizing- its importance in the slightest degree, any one who wi'l give ?y th,oueht to the question, will see that the manufacturing Industries of ilf Slty. ttre of. far greater importance and their development, extension and success should bo given our most care fuj, tnought and consideration. It ia not material to the wheat shfo per whether the dock from which he loads his wheat is situated one place or another place. The character of the business requires that it should be done Just as economically as possible, and the consequence, in my opinion, will la evltably result In their seeking cheaper ?vc which in view of the fact that before long railroads will be on both -sides of both our -rivers, will not ba. hard to find. A manufacturing Dlant. , now Avar la nhalantl.n. Jr It employes many men the year around f .u ,u, irge sums 01 money with in the city or state, but very- few peo ple realize its growth within the last 20 years. "The tonHmnr hi-n,h ti.i. ?' wh? termed equalising tariffs 's ; . . Sir . """cr io put eastern goons Into the interior i .1 haM4a r people tj meet the competition In their own territory. We are on the circum ference or our circle, and cannot very Jrell sell to the westward. Our terri tory lies to lh nnrlh J JZ.2C. The manufacturers of this city should support In.everv nossibla wav movement that has for its purpose the v """"" regulation -or rates, and should not be misled by statements Which WOUld fnrilcafa that tb. is based either on personal reasons, for special Interests, or for special classes. " a contest in winch the entire community is Interested directly, for Without reasonable rllatrthntlv, out of Portland and reasonable rates on such raw; material as we do not produce 1" this city, our manufacturing Interests will be placed at a most Berious disad vantage. Owing to the public character of the business, the carrier is engaged in. the public and the state have the right to see that reasonable rates are charged and reasonable services rendered. It is a right, not a favor. Furthermore In the exercise of this right, no one, cer tainly not the manufacturer or a busi ness man would seek tn rienrlv th. carriers of fair and commensurate pav for the services they render, and If permitted, I could demonstrate by act ual figures, that the people of this state have never by anything they have done, given the railroads of the stae any excuse for assuming that its peo ple ever desired to unduly limit their earnings. - In discussing "Sanitation. Wvnn Johnson pointed out the good effects! of sanitary efforts in Cuba, on ih pn.i ama canal, in Manila, In the Japanese 1 war with Russia, in the building of tne ! North Bank road, as well as in a number of cltlees of the United Sttes. He re-1 ferred to unsanitary conditions of Pitts- i burg that had been largely overcome by the determined anil intelligent ttnrt i of civic workers, who made up their minds that sasitary conditions of living! could be materially improved, and pro- ceeded to work out a grand reformation. He pointed out what was accom-J pllshed in renderings' buildings mnltin in 1 Pittsburg. Washington, D C and other cities, and showed how helpless! port land is in this respect. He took an other rap . at the dilapidated garbage system of Portland, and spoke of the thorough Inspection of riairlea arAimri Cleveland, Ohio, and of the splendid municipal baths - of St. Paul, and the strict enforcement of the expectoration ordinance In providence. R. I, and St. Louis, Mo. - . , . He suggested enlarged powers Tor the board of health, giving them authority they do m possess nowof forcing if 1 tievA be. through the mediumship of a: sanitary commission property Holders tn nut their buildings in a sanitary i-nn. (Htlon. of inspecting dairies, of the su perintendence of the garbage- noil me.t Inn and incineration, and he nointed out tha beneficent result where annh oollcy ,vu pursued,, . -. .aatUp-.- . , U 01 0 EMERALD ISLE u . '.'i' ' ""am.aaSjaaaaaaa-aaa Sy "V Kussian Ship Dundee . Will Take Cargo Direct to Cork. FIEST TIME VESSEL HAS BEEN IN THIS HARBOR American Barkentlne Amaranth Has Choice of Taking Lumber Cargo - at This Port or on the Puget ' Sound. ,'. The Russian sailing ship Dundee has beon chartered to load lumber in this Fort or on the Columbia river for Cork, reland, where she will receive orders, at 48 shillings or 1 and 3 off for direct port. -,- .; .- The Dundee lias never been In this harbor before. She carries a net ton nage of 1998 tons and will, no doubt, take a full cargo' when she leaves. She is now harbored in Callao. - . Another vessel which will probably visit rfortiana soon i tne rAjnerican barkentlne Amaranth which has been in this' Dort several times before. Because of this fact it Is thought that the Am aranth 'will choose Portland for loading in prererence to some point on the sound, although she, has an option on either place.-. She will sail after load ing for either the west coast or for Sydney. Australia. The Amaranth carries 1103 net tonnage. STEAMER DISABLED Owners of the Dora Learn She Is in Tow of the Farallon. (Halted Frau Ised Wire, Seattle, Wash., Jan. 21 A message from Ketchikan to the Merchants' Ei. change reports that the Farallon, re turning to this city rrom that port, has taken the steamer Dora In tww, as the latter Is in a helpless condition, and la bringing her back to Seattle. The Dora left here January 12 in full repair, hav ing just come out of drydock, and her owners are puzzled as to what has hap pened to her. She should have arrived in Ketchikan January IS, but never was reported. ARGO GOES TO TILLAMOOK Extra Large Cargo Taken on This Trip. The steamshin Aran snlled fnr Til. lamook today. She was rielnveri a dav in loading because of the large cargo she Is taking this thlp in an attempt to make up for the lost trip during the time the river was frozen over. ihe cargo consists of general mer chandise and supplies. This is the first communication Tillamook has had for nearly two weeks with tho exception of what was carried over the mountains on the stage lines. DOLLAR BRISGS CARGO Freight Transferred at Bay City From the Nevadan. The new eteamer Stanley Dollar, sta ter to the Riverside and Falcon.- will bring a cargo of freight to Portland, The freight was transferred at ' San Francisco from the stnamar NevaHan The Stanley Dollar is under charter of the American-Hawaiian company, who will probably-malntaln, a steamship be tween .Portland and San Francisco in tne ruture. i ne coming routed from New Tfork. SENATE PASSES A.-Y.-P, f.lEAS Bears $50,000 for Interest Payment Railway As- ; sessment Change. .'TJoltad Press Leased Wlra, Olympla, Wash Jan. 21 -In the en ate this morning the Alaska-Yukon-Pa ciflc exposition bill, appropriating ,$50, 000 for the Immediate payment of In terest on warrants, was passed. In fu ture it is proposed to have all similar bills prepared and passed upon by the auditor, . In the house Representative Bell of Pierce county introduced a bill providing that the assessment of railroad property be left to county assessors Instead of the state board of equalization. Representative Hubbell of Pierce in troduced a bill providing for an eight hour law for miners. JUDGE GORDON SAYS HE IS NOT GUILTY (United Prew Leased Wlre.l Tacoma. Wash.. Jan. .21. Judge M. 3. Gordon, arrested in this city last night for the alleged embezzlement of iflSoo from, the -Great Northern railway, will leave this afternoon at 3 o'clock J!or. Spokane, where ' he will answer the charge preferred against him. When seen Just before his departure. Judge Gordon refused to make any fur- tnei statement regarding nia case, lie reiterated that he was guilty of no crime and was confident of being acquitted. Bonds in tne sum of (10,000 were fur nished by Tacoma men, whose names have not been made public. INFORJIATION WANTED ON SUGAR TRUST DEAL (United Press Laaaed Wlrs.l Washington. Jan. 21. Senator Culber son today Introduced a resolution re questing Attorney General Bonaparte to send to the senate all correspondence relating to the alleged violation of the act of July 2, 1890, by which the Amer ican sugar Kenning company is reported to have made a- loan to the Pennsyl vania Refining company. it is alleged that the loan was made with the understanding that the Penn sylvania Refining comDanv would with draw from business. freight was LONG TRIP 11 RIVER Three Steamers Delayed by Floating Debris. The steamers St. Helens. Malestic and Daisy Mitchell arrived in Portland tins morning after a tedious trip up the river. The boats were forced to tie up at Rainier last night on account of the danger of colliding with float ing debris. The St. Helens Is bringing the freight of the steamship Homer from San Francisco this trip. ALONG THE WATERFRONT The steamer Yellowstone arrived url at Astoria thin morning at 9:30. The Olson & Mahoney. Captain H. T. Payne, sailed for San Francisco with a wheat cargo yesterday. The steamship George W. Klder is o i he drydock, - having gone aboard yts terdty. The steamer Kureka of Coos hav points arrived at Astoria this morn- ,ng at 7:60. . The steamer Nome Citv. Captain J. Hanson, sailed .for San Francisco ayes tecday with 697 tons consisting of 460.- 4100 feet of lumber. The tteamer Senator departed for kan Francisco yesterday with 1 836 tons of general cargo. MARINE NOTES. Astoria. Jffn. 21. Arrived at 7:60 and left un at 10:20 a. m. Steamer Eure ka from Eureka and way ports. Ar- 1 a . . . A ' X. f . 1- 1 , ivea sjt 3:o a. in. oiewiier ivuuw- stone from San Francisco. St Helens, Jan. zi. Passed at :10 m. Steamer St. Helens: at 9:40 a m.. steamers uaisy .iitcneu ana Ma jestic. Astoria, Jan. 21. Condition at tho mouth Of the river at 8 a. m., moder ate; wind northwest, 26 miles; weather, light rain. 1 Kle-I at Astoria rr.-uny nign wai-r. 1:36 a m 7. feet: 0:55 p. m.. 9. i feet. Low water, 7:10 a. m., 3.1 feet; 7:S0 p. m., 1.1 feet. SUCCESSFUL YEAR Record Established Last Season Which Attracts Koch Attention. In today's Journal on this nags will be found, published the annual state ment of January 1, 1909, of the Home Insurance company of New York, the leading exclusive fire insurance com pany of the world. ine record or the Home insurance company is one that is a credit to both itself and the nation. It has met all the great conflagrations of the country justly and honorably, and was the first to proclaim to the disheartened San Francisco sufferers its intention to promptly adjust and pay all itsvalid claims dollar for dollar, regardless of what action others might deem proper to take. The Home Insurance company has elimbed into enormous figures, Its assets amounting now to $24, 866, 499.05, with a policy holders' surplus of a little under $14,000,000. Notwithstanding the fact that it nas set aside as a reserve for taxes the sum of f 100,000, and opened up a conflagration surplus account with jsuo.ouo, it still has a surplus over con tingencies and all liabilities. Including capital, nearly tiu.uuu.uuu. The observer will note 4n today's ad vertisement the company's list of assets wherein are itemized its securities, com prising the best stocks and - bonds of the United States, exemplyflng the con servative manner in which the Home Insurance company is safeguarding its funds, which are held in trust for con tingencies which may arise at any time wherein the public's interest may be at stake. It is managed In its Pacific northwest department bv John D. Coleman, gen eral agent, headquarters 311 H Stark street, this city. Its local representa tives are D. W. Hoelbing & Co., S11V4 Stark street; Harvey O'Bryan, McKay building, and the Portland Trust Com pany of Oregon In its own building. Third and Oak streets. STEPHENSON NEED NOT SHOW EXPENSE LIST - (United Press Laaaed Wlra.t Madison, Wis., Jan. 21. After be ing deadlocked for 24 hours over the question of Investigation into the amount of money United States Sen ator Stephenson is alleged to have spent to secure his renomlnatlon, the state son'ate today defeated the resolu tion to investigate, by a vote of 17 to 8. Insurance Rate Raised. (United Press Leased Wlrt.l La Crosse, Wis., Jan. 21. It was de cided today at the national convention of the Bohemian Catholic workmen to raise all Insurance rates. . The increase Will amount to two thirds, with an addi tional 10 per cent for hazardous risks. TOO HOOK TACE . You feel as If you had one face too many when you have Neuralgia, don't you? Save the face, you may need it; but get rid of the Neuralgia bv apply ing Ballard's Snow Liniment. Finest thing in tne world ror rheumatism, neu ralgia, burns, cuts, scalds, lama back and all palna Sold bv Bkidmore Drug THE, v r INSURANCE COMPANY NLW YORK FIRE, LIGHTNING AUTOMOBILE, ONE HUNDRED AND ELEVENTH SEMI-ANNUAL STATEMENT, JANUARY, 1909 CAPITAL STOCK - - ... - - - - - $3,000,000.00 The Assets of the Company Are as Follows : Cash in Banks and TrUst companies , , ; , ,$l;76,008.7!i Cash in hands of Agents and in course of collection iieai ,stare , w. Loans on Bondsand Mortgages '. - , BONDS TMstrict of Columbia ''(Registered) 1924 ...3-5 p. c. United States (Registered) 1925 , ,.., 4 p. c. City of New .York (Registered) 1940-1052 3 p. c, State of New York Canal Registered) 1957-1958 S p. c City of New York (Registered) 4 p. c City of New York (Registered) 1912 5 p. c. State of New York Highway Improvement, 1968 4 p. c. City of Rochester, N. Y. (Registered) 1933 p. c. City of Richmond, Va. (Registered! 1922 5 p. c. Clf of Toronto Debentures (Registered) 1944 4 p. c. United States of Mexico (Registered) R p. c. State of Georgia (Registered) .1920 3 p. c. Northern Pacific-Great Northern (Reg'd)Jolnt Bonds (C, B. & Q. Collateral) 1921 4 p. c. Pennsylvania Railroad. Pennsylvania Coal Collateral, 19B1 .314 p. c. Erie Railroad, Pennsylvania Coal Collateral, 1951 4 p. c. Pennsylvania Railroad Co., Convertible, 1918 u p. c. Union Pacific R. R. Co. 1st Mtge. R. R. & Land Grant-Bonds, 1947 " p. c. Interborough Rapid Transit Gold Notes, Convertible, 1911 6 p. c. Florida East Coast Railway Co. Gold Notes, 1910 g p. e. The Hudson Companies Gold Notes, 1910 . 6 p. c. The Tidewater Company First Lien Notes, 1913 6 p. c. Chicago, Rock Island & Pacific Ry. Co. First and Refunding Mtge. Bonds, 1934.. 4 p c x-ennsyi vania rc. n. to. 6-yeur uoiiaierai uom nuies, . 5d c. .I. i a . . - n . - . ,t . . mi . " ' 1,120,249.91. 1.&43, 893.06 97,800.00 1 Par Value Market Value Chicago A Alton R. R. Co. 6-Vear Notes. 1-912 Ohio A West Va. Ry. Co. 1st Mtge. Bonds, 1910 6 p. c 7 p. c. Louisville, New Albany & Chicago R. Co. 1st Mtge. Bonds, 1910 6 p c West Shore Railway 1st Mtge. Gtd. Bonds (Registered), 2361 4 n c Chicago & Western Indiana R. R. Co. Notes, 1910 : 5 n c. 4 p. c. c. p. c. 4 p. c. c. c. Cleveland Terminal & Valley R. R. Co. Bonds, 1995 , 4 p. c. Hearting Co. and the fhlla. & Heading coal & iron (JO. uen. Mtge. Bonds. 1997.. 4 n Norfolk & Western, Pocahontas, Joint, 1941 4 p. Oregon Short Line R. R. Co.. Refunding, 1929 4 p. Terminal Kauroan Association or at. iouis, i&3 Chesapeake & Ohio R. R. Co., 1992 New York, N. H. & Hartford Conv.. Deb. Ctfs. (Reg ), 1966 Louisville & Nasnvtlle Kallroaa co. I' n inert Mtge., 1SMU Atlantic Coast Line Penn. Co. 15-26-year Gold Bonds. Loan, J908 4 p. e, Delaware & Hudson Co., Conv., 10-:year Gold Bonds, 191 , 4 n c. lmeroorougn -ttapia j ransii .o., s-year iNoies, g p. c. w tLBiiirigiuii iei xnuiai u., ihl mue. uuia nonus, io Penn Equipment Trust Bonds. Series C, lftll (ReKistered) iNew i or, ipw naven & naruora ft. it. vo. tonv,, 1943 p mannatian ny. .o. onsouaaiea mine. Bonos, i3v 4 p, . R. R. Co. Gold Bonds, 1962 4 p, c. " o p. c. ' p- ...an p- c 6 p. c. Atchison, Topeka & Santa Fe Railway Convertible, 1955 4 p. c. Chicago, Indiana & Southern R. R. Co. 60-year Gold Bonds, 1968 4 p Lake Shore A Michigan Southern Ry. Co. 25-year Gold Bonds. 1931 Virginia Midland kv. co. uenerai Mtge. Bonds. i3o Atchison, Topeka & Santa Fe Railway Conv. Gold. 1917 5 p 4 p. e. 6 p. c Louisville, Henderson St, St. Louis Ry. Co. 1st Mtge., 194 Central of Georgia, 1st Prefd Income, 1945 Central of Georgia 2d Prefd Incofne, 1945 American Tobacco co. Bonds, 13&1 New York A Westchester Lighting Co. Gen'l Mtge. Bonds, 2004. Boonville Railroad Bridge Co., winning Fund, 1951 6 p. c. p. c. p. n, 4 p. c. 4 p. c. p. C Adams Express Co.. Collateral Trust. 1948 , , 4 p. o. . STOCKS 15,000 Shares Pennsylvania Railroad Company 50 each 11,000,000.00 210.000.00 1,830.000.00 1,000,000.00 500,000.00 300.000.00 300,000.0(1 100.000.00 50,000.00 t50,000.00 50,000.00 10,000.00 400.000.00 333,000.00 300.000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 200,000.00 160,000.00 100,000.00 100,000.00 100,000.00 100,000.00 100.000.00 100,000.00 100,000.00 100,000.00 100.000.00 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00 100,000.00 100.000.00 100,000.00 100. 000.00 100.000.00 100,000.00 100.000.00 100,000.00 60,000.00 60,000.00 60,000.00 25,000.00 17,000.00 13.000.00 200,000.00 200.000.00 100.000.00 100,000.00 11,100.000.01 262,000.00 1,499,800.00 ' 1,010,000.00 660.000.00, v. 300.000.00 336.000.00 96.000.0H " 60,000.0 343,333.33 - . 23.000.00 . fl.900.00 400,000.00 318.8G8.0OV 258.006.00 196.000.00 208.000.00 , - 206,000.00 200,000.00 , 196,090.00 (200,000.00 182,000.00 150,000.00 100,000.00 104,000.00 104.000.00 - 104.000.0 100.000.00 94,000.00 102,600.00 90.000.00 ,ouu.ui 87,000.00 106,000.00 " 100,000.00 .- 102,000.00 96,000.00 99,000.00 101.000.00 S9.000.00 94,000.00 99,000.00 13M0O.00 I 99.000.00 103.000.00 94,000.00 47,600.00 64,000.00 63.000.00 27,000.00 13,430.00 7,320.00 158,000.00 170,000.00 . 8!, OO0.00 92,000.00 $15,538,379 05 6.000 6,000 6,000 6,000 8.000 2.000 2.600 2.000 2,000 1,800 1.500 1.600 1.600 1,500 2.000 1,000 1,000 1,000 1.000 1,000 1.000 1,000 1,000 1.000 1.000 1,000 600 600 600 10 3,000 600 2,000 6,000 2,000 2,000 100 30H 200 20ft 100 200 100 150 100 50 Silver. Morris & Essex Railroad Co 60 each Reading ComDany. First Preferred 60 each Pittsburg, Bessemer A Lake Erie R. R.. , 60 each Lehigh Vallev Railroad Co - 60 each Baltimore & Ohio R. R. Co., Preferred 100 each I'nited New Jersey R. R. A Canal Co 100 each Pittsburg, Fort Wayne & Chicago Ry. Co 100 each Cleveland & Pittsburg R. R., Gtd.. 7 per cent 60 each Baltimore A Ohio R. R. Co., Common 100 each Rochester A Genesee Valley R. R ; 100 each N. Y.. N. H. & H: R. R. Co 100 each New York Central A Hudson River R. R. Co 100 each Manhattan Railway Co., Stock 100 each Chicago & Northwestern Railway. Common 100 each Great Northern Railway Co., Preferred 100 each Great Northern Iron Ore Beneficial Ctfs joo each Chicago, St. Paul, Minn. A Omaha Ry. Co.. Preferred 100 each Kansas City. Ft. Scott A Memphis R. R. Co.. Preferred... 100 each Fort Wayne & Jackson R. R. Co., Preferred 100 each Rensselaer A Saratoga R. R 100 each Chicago A Northwestern Ry. Co., Preferred 100 each Louisville A Nashville R. R 100 each Vallev Railroad , .... 100 each Northern Railroad Co.-of New Jersey 100 each Atchison. Topeka &-Santa Fe Railway, Preferred 100 each Cnlon Pacific R. R.. Preferred 100 each Delaware A Hudson Co loo each Illinois Centrnl Railroad Co . loo each Cleveland A Pitta. R. R. Co. 4 per cent Betterment Stock 50 each Northern Securities Co.. Stubs 100 each Northern Pacific R. R. Co. Subscription Receipts. Full Paid...., loo each Chicago, Mil. A St. P. Prefd. Stock Inst. Ctfs., 85 per cent Paid., loo each Chicago. Mil. A St. P. Com. Stock Inst. Ctfs., 85 per cent Paid., joo each Consolidated Gas Co. of New York or each The Mackey Co.. Preferred joo each American Telephone A Telegraph Co ion each Twenty-third Street Railway Co ; joe each American Exchange National Bank of N. Y 100 each Fourth National Bank of N. Y loo each Manhattan Company, N. Y . 5ft each Bank of America , joo each Chatham National Bank of N. Y 25 each Franklin Trust Company, Brooklyn loo each Long Island Loan A Trust Company joo each T'nlted States Mortgage A Trust Co loo each Metropolitan Trust Company loo each $750,000.00 250,000.00 250,000.00 250,000.00 250,000.00 800.000.00 300,000.00 250.000.00 ' 100.000.00 200,000.00 180,00000 150,000.00 150,000.00 160,000.00 150,000.00 200,000.00 100,000.00 100.000.00 100.000.00 100,000.00 100,000.00 100,000.00 . 100,000.00 100,000.00 100,000.00 100.000.00 100.000.00 60,000.00 60,000.00 25.000.00 1,000.00 300,000 00 50,000.0 200,000.00 600.000.00 200,000.00 200,000.00 10,000.00 30.000.00 20,000.00 10,000.00 10.000.00 6.000.00 10,000.00 15,000.00 10,000.00 6,000.00 $990,000.00 ; 457,500.00 227,600.00 165,000.00 380,000.00 ' 278,000.00 .' 600.000.00 425,000.00 174,000.00 220,000.00 207,000.00 238,600.00. 187.500.00 229.500.00 74.600.00 294.000.00 72,000.00 170.000.00 74,000.00 135,000.00 . 190,000.00 215.000.00 125.OOA.QO 118,000.00 f S.OOO.OO 101,000.00 95,000.00 - 90,500.00 74.000.00 S5.000.00 1,120.00 4 2 6,000 00 72.500.00 282.000.00 984.000.00 . 140.000.00 254,000.00 25,000.00 75.OO0.0O 40,000.00 30.000.00 . 64,000.00 15.000.00 36.000.00 25.000.00 LIABILITIES $24,856,499 05 You Arc Invited to Attend the Season's Fourth PIANOLA RECITAL Friday Evening, Jan. 22 The fourth of the season's popular Pianola re citals will be given at Eilers Recital Hall Friday evening, January 22, at 8 :30 o'clock, with Mrs. May Dearborn-Schwab as soloist. y Mrs. Schwab's beautiful soprano voice wilt be heard in two groups of choice songs. The new Themodist Pianola Piano will be used. These recitals will be given every Friday even ing, and all are cordially invited. To avoid ever crowding, however, admission will be by reserved seat ticket only. . " By calling at our store any time before" Friday evening, two complimentary tickets, each good for one reserved seat may be secured.. Eilers Piano House j 353 - Washington st. ' Cash capital ,. Reserve Premium Fund Reserve for LoRses Reserve for Re-Insurance, and other claims .- Reserve for Taxes , Reserve as a Conflagration Surplus Surplus over Contingencies and all Liabilities, Including Capital .$3.000.000.00 . 9.515,887.00 . 1.018.S28.87 . 539,183.87 i 100.000.09 . 800,000.00 . ,883.S2t.51 $24,856,499 05 Surplus as regards Policyholders, $13,682,821.51 Especial attention is called to the creation by this company of a Conflagration Surplus now amounting to $800,000, a sum exceeding the entire assets of many companies seek ing business in the United States and Canada, and the only company doing business in this country maintaining a reserve of this character, rendering substantial its claims to being "conflagration proof." And we also call your attention to the Policyholders Surplus of this company, larger than that of any other company transacting the busi ness of fire insurance in the United States. THE HOME OF NEW YORK was the first company to announce that it would pay its San. Francisco Conflagration Losses in full upon adjustment. JOHN D. COLEMAN, General Agent, 311 Stark Street D. Vf. Hoelbing & Co. CITY AGENTS: : Harvey O'Bryan The Portland Trust Co. ELBRIDGE G. SNOW, President EMANUEL H. A. CORNEA, Vice-President. FREDERIC C. BUSWELL, Vice-President. CLARENpE A. LUDLUM, Ass't Secretary. AREUNAH M. EUI;TiS. Cecn i CHARLES L. TYNI. '. f crc ; -HENRY J. FERRlv, A T