The Oregon daily journal. (Portland, Or.) 1902-1972, June 13, 1913, Image 6

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The Oregon daily journal., June 13, 1913, Page 6, Image 6

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Newspaper Page TextTHE OREGON DAILY JOURNAL. rORTLAHD. II 'I DAY EVENING, JUNE 13, 1213. ,::il!S M ItOilEIICE GET ; CREDIT EASILY i i fialian Banks Have System of : Leans .That Have Been In I Vogue for a Great Many i Years. Florsnca, Italy, Juns ll.At tha ta- tinning cf IU Invaatlgatlon of cooper Mvt banking' eoclatlae, the American commission on agricultural cooparatlon, assembled by the Southern Commercial Congress, ht had tha advaatagaoue x perunc of tint visiting a part of Eu- ropa wbara cooperatlva banka bar not Jiada much headway, . " Agricultural cooperation la practiced id only, one form In the country about Florence cooperative aocietiea for the purchaae of agricultural machinery, fer- tlllter and aeeda. ,Thl a chiefly due (0 the fact that In the early, daya the merchants cf Florence wera the land, ownera and their eatatea were farmed en a ahaxe baala by the peaaanta. the landlords furnishing the house, cattle, ' machinery, fertilisers and seed, and the farmera furnlahlng the work. The mer chants were able to aecure all the credit they needed ' to finance their ' farms through their 'banks In Florence and the farmera themeslve bad no need of credit. T If crops wera bad, the landlord fur nished food for the peasant farmer un til the nest harvest This aystem of land tenure still prevails, and atudy of the systems near Florence has shown the commission that cooperative credit Institutions are only possible where the $eed la great riortntlne Off era f olattoau -C Comparing : Italian oondltlona with American, one of the Florentine experts who appeared before the commission suggested that In the United States the solution of the problem of farm finance, so far as money for operating- the farms U concerned, might be found' in an en largement of the operations of existing banka. Signor Martelll. president of the Savings Bank of Florence, deacrlbed a practice common with banka about Florence, whereby the farmer glvea a mortgage to a bank and receives In re turn an open account for a certain amount of credit - ( iuui a farmer who conatdera that be , teeda, a credit of 110,000 to operate hla . farm glvea a mortgage for that amount (o the Lank. But he doea not draw out the entire 110,000 at one time. An he needa money he draws on the bank. If be wanta SovO, be drawa only that amount He paya Interest only on the amount which be borrowed from the bank. In this way a farmer can aecure Ve) credit for any amount of money, al ways readily available, and only has to pay Interest on the amount which he actually uses. . ' ram Mortgage XsTeotaes., For the long time loaaa of the farm era, the savings banka are allowed to Invest up to SO per cent of their de posits In farm mortgages. , These mort gagee art of two claseea those for periods up to 10 years, and those tor periods of from 10 to to yeara. The shorter term, mortgage loana are repaid by the borrowers in one lump sum, as in the united states; but the longer term loans are repaid by amortisation ittab ia, ouiau annual gmytxivnia uinur upon the principal of the loan. The ', banka are only permitted to charge bor rowers one half of 1 per cent more than they are required to pay depositors. At the present time the prevalent rate ' la I .per cent though generally It la 4 ' per cent Money la only loaned up to CO per cent of the appraised value of the land, although the banka : accept second r third mortgagee so long as the total amount of mortgcge Indebted ness doea not exceed the to per cent. There la also a mortgage bank In Florence, the Monte di Paschi, founded by' one of the early dukes, of Florence, -which baa carried on a profitable anJ beneficial business to thia day. This . bank Issues mortgage debentures at 8, . . 4'y4 and I per cent Most of the deben tures now outstanding are at 8 per cent . They aell . a trifle under par, , which la the usual condition in Italy, and their market price compares favor ably With government bonds. . ' The cooperative aocietiea for purchase among the landownera have been suc cessful. The farmers themselves do not belong to these societies, but the land ownera do all purchasing of farm ma chinery and fertiliser. -'Theso aocietiea are" also-acHve from an educational standpoint and: maintain agricultural experta who travel about from village to village, instructing the farmera In the use of scientific agricultural methods. . It la a bard task to Induce the peasant- ' l y to use modern machinery and chem-! teal fertilizers. But the great interest : of able men In the work haa accom plished much, both In spreading a more thorough knowledge of scientific agri cultural methods and In financing the . farms. " 7 ... of the Hurry Valley riclyhboihood, was iilfriei lor burial to Wllsonvllle, Neb, He Is survived by a widow and two Sniall bqys. lie died on Tuesday, SEATTLE MOUNTAINEERS TO PENETRATE OLYMPICS (SHI to The Jotirml I Aberdeen, Waali., June 11 Charles Albertsori of Seattle lias reached here, the advance courier of a large member ship of, the Mountaineers'1 club of Se attle, who will go to the Olympio moun tains by way of the ocean beach In July. Tile company expects to come out taking the Qulnault river route with Its many rough cascades, traveling In can oes until It reaches the ocean, a dis tance of 40 miles from Qulnault lake, i EASTERN STAR CLOSES -'.iratlLSESSIO! The twenty-fourth annual meeting of the grand chapter Of the Order of East era Star of Oregon was concluded yes terday afternoon with the ceremony of Installing the new grand offlcera for the year. This ceremony waa In charge of Mra. Paulina Moore Riley, paat worthy grand matron. All the new offlcera were preaented with bouquets vp rosea and Mrs, Margaret V. Ilayter, "the re tiring worthy, grand matron, waa pre sented with the paat worthy grand matron's Jewel. I. ant night a blgr Tfiep- Hon in honor of the new worthy grand matron, Mrs. KoiHacher cf Condon, and the retiring grand matron, was held in the Washington Maaonlo Temple at East Burnslde and East Eighth streets. The elected officers have already been announced In The Journal, but the ap polntees, announced by Mrs, Itelsacher yesterdsy, are: Day U Sherman, Ash land, grand lecturer; Ida Umbach, Lake view, grand chaplain; Mary Barnum, Moro, grand marshal; Delia Thomas, Am'ty, grand organist; Lelah Shields. I'ortland, grand Adah; Alice Hall, Marshfleld, grand Ruth; Anna M. John son, Condon,' grand tstner. caitn I. Elgner, Astorls, grand Martha; Clara Graham, Portland, grand Electra; Ella Angell, Fossil, grand warder; Charles A. Fry, St Johns, grand sentinel. ROYAL i!. imai 10 BE BUIDfilDAY The funeral of Royal K. Warren, one of the beat known educators of Port land, who died yesterday at his homo, tU Montgomery street, probably .will be held from the First Presbyterian church Monday afternoon. Burial will be at Salem. Mr. Warren, who had resided In Port- lanJ since 18, waa 7J yeara old. Death waa caused by angina pectoris. He was closely Identified with the activities of the First rrea! tftrlan church, of wMi-n he had been a member for almost 40 years, He gave much of his time to Sunday school work and particularly in terested himself In the musical pro grams. Mr. Warren was the first prlnclpal'of the Harrison sohool. He hejd the posi tion two years, resigning to accept the presidency of Albany College at Albany, a position which he occupied for six yeara. Later ho returned to Portland, and accepted the position of principal of the North, now the Atkinson school. . He was elected principal of the Port land high school, in 1170, an office he held for 11 years. In ltDf he was elect eJ achool director and ho aucceeded him self several terms. Mr. Warren was a native of New Tork, having been born at Bath. He wii the youngest of Ix children. A wMow ami a brother, Lr. Ford 'Warren, survive. CHARLTON WILL NOT BE TRIED UNTIL NOVEMBER (United rrM I.p4 Wire.) Rome, June 13. rorter Charlton, the American who murdered hla wife, for merly Mrs. Mary Scott Castfe of Pan, Francisco at Lake Como, will not go to trial before September,' according to declarations here today by Italian aur thoritlea. Formalities regarding the ex tradition of Charlton, In compliance with the United States supreme oourt'a recent decision,' wilt not be completed for two months, It waa aald. ' lj a a Store Opens at 8 A. M. and Remains Open Saturday Night Until 9:30 for Your Convenience Groceries. Delicatessen and Housefurnishing Departments Now Located on Fifth Floorr-Bakery Goods Main Floor 1000 Rolls of Best Oregon Grass Butter, "Banquet Hall" Brand, at 61c the Roll Delicatessen Specls. Tomoirow P f ? .r"' The Fountain In Holtz Cafe PotaloSalad, ptr pound 12c Boiled Ham at, a pound 34c yJJSffi&Cz Slkm ?0?BAL "0M M' T0,,1P',MA ' , , 7 F r. . a. ee j ii 1 , m fiZ. ' LS A UM Sj VfLrS Ice Cream. Sodas, all flavors, at Dthcioua Soup, apecial at only 8i . Kippered Salmon, pound 18c Stuffed Mangoes at 3 for 10c s yZ AyilA Jb iced sundaes, n kinds, only ioi au Meat orders, 10 and t&4 ... Cream. Brick Cheese for 27c Fish Flakes, special, carl 8c mmimv wm & Mmm Imported Swiss Cheese at '33c Shredded Codfish, per can 8 :ititma iHliiMhW Wlji Cool Drinki 0rii kinds .r here, p.itriei at s-Te or Coffee ' ' ' . a .. -ih-.j.m inn. i nas in n i in 'aia ' 500 Pairs of White Shoes Values to $3.50 at $1 a Pair The greatest White Shoe bargain of the yearfive hundred pairt of button-tyIe, atreet-weight White Nubuck Shoes for women. Size 3 to 7 only.' Have medium heels and are well made; nobby and seasonable shoes. Regular values up g A A to $3.50 a pair specially priced at only j) 1 UU All White Shoes Reduced Women's $4.00 White Nubuck Shoes. all sizes and styles; spe Ct no cial tomorrow at, pair 0iuO Women's $3.50 Patent Vamp and Nubuck TotT Shoes, spe- ' fi f aa cial tomorrow at, pair 31t70 Women's $3.00 White Poplin Pums, all sizes and styles, spe- A ylA cial tomorrow at, pair dJL.fr7 Women's $3.00 White Poplin 2-Strap Slippers, all sizes, special A Q tomorrow, per pair, at i)lfr7 1000 MerVs Reg. $1.50 Shirts Special Tomorrow Only. 95c 5000 Festival Souvenirs at Special Prices Rose Carnival .Pennants best oualitv felt; with- sewed-on let ters get one now to remember the Rose Carnival and Port land. ' $1.50 Pennants, special at 9S $1.00 Pennants, special at 59c 50c ' Pennants, special at 33 39c . Pennants at, each 25 Electric Parade Souvenirs on Special Sale, Three for 25c 1000 Souvenir; Folders of the Rose Festival Electric Parade, special at only 10 3 for 25c $2.00 Pictures at Only 59c DRK BEING HURRIED ' ftJnit4 Pres. ttutd Wlrc.i San Francisco, Juna 13 With the opening of bids for the construction of ths mlns and meUllurgy exhibit palace at the Panama-Paclflo International Kx posltlon, the promise that the exposi tion will achieve a world's record in early' construction Is emphasised today. Contracts for fhe palaces of machinery, varied industries, manufactures, trans portation, liberal arts, agriculture, edu cation and food products' already have been let, and work haa begun. Of the main group to ba constructed bjr the exposition company, the palace of fin arts and horticulture and festi val hall yet remain to ba contracted for. Work on the remaining buildings will ba undertaken simultaneously; all will, ba under construction this aummer. Tha service bulding la completed, machinery palace, largest" of exhibit buildings. Is three fourths completed. Great sale tomorrow of 1000 Men's Shirts in coat styles, with plain or pleated bosoms, soft or stiff cuffs attached. They're shown in plain white and in neat stripes and fig ures. A splendid assortment to select from. Every shirt in the lot is a good AC-, $1.25 or $1,50 value. Special at UV Men's $2.50 Pajamas 1 . t Special $1.49 the Suitji Men's 75c Underwear 49c Garnient 1000 Suits of Men's Pajamas of finest madras cloth, soisette and fine quality repr shown in white, tan, gray, blue and lavender and in neat stripes; very nicely made and fastened with silk loops and frogs; regular $2 and t 1 A Q $2.50 values at, a suit tD 1 ity 1 000 Summer Undergarments of flat and derby ribbed balbriggan, porosknit 'and , nainsook. . Shirts with long or ' short sleeves ' or sleeveless. Drawers knee or ankle length. Splendid quality Summer underwear. Regular 75c A (I values special at, garment ntsL 1000 Framed Pictures, includ ing scores of beautiful subjects, tastefully framed; values to $2.00, special for only 59 $1.50 WaisU for Only 98c On the second floor 500 Shirt Waists of dainty marquisette, in'long and short sleeve, low and high heck styles, taste fully trimmed , with lace and fine tucks; reg. $1.50 val.f 98tf $1.00 Lace Collars' for 49c '500 Lace1 Collars in high and low effects ; also a large assort ment of embroidery, collars in white and colors; 'also lace bodices; values to $1, at1495 Reg. 75c Chemisettes at 49c Pretty Shadow Lace and Plain Net Chemisettes, in white and cream, reg. 75c values, at 49tf 39c Belts Special Only 22c Women's Patent Leather Belts, Norfolk style, in medium and large sizes, black, red and white, reg. S9c vals., spl.,22 $2.00 Shell Goods for 69c Heavy shell and amber Combs and Barrettes, gold Inlaid and set with finely cut rhlnestones many sizes and styles; val ues up to $2.00, at, each . .69 All Our $15.00 Trimmed Hats Special Tomorrow at $6.95 Your choice tomorrow without reserve of the store's entire atock of Trimmed Hats. All beautiful new styles, made of Milan, hemp, Leghorn and lace novelties and smartly trimmed in flowers, lace, ribbons, feathers, etc. Values up to y AT $15 priced for tomorrow at 3)0.0 $1 Wash Duck Hats Specially Priced 69c The Hat every one wants for boating and out ing smart and jaunty looking- con venient and inexpensive, $1.00 values 1 MfffflliWK $1.75 Ratine Hats for 95c Women's Ratine Hats, including six different styles all nobby and desir able, regular vals. up to $1.75, on sale tomorrow at, each lOC 69c Panamas Are All Reduced $3.95 Small Droop Panamas $2.95 $6 Roll Brim Panamas at only $4.95 $7.50 Large, Fine Panamas at $5.95 Trimmed Free if materials bought here $3.50 Silk Parasols at $2.19 A K1 f V1 Five hundred beautiful new Silk Parasols, including striped, checked and plain col ors, pongees, etc. ; have strong Paragon frames, long handles and silk (?7 1 Q tassels: regular. $3.50 values o-w 1 V $1 Longf Silk JGlpves 69c Five hundred pairs Women's Lon Silk Gloves, 1(5 button length, with double finger tips, 2-clasp; black, white and a large' assortment of colors; re. sQr $ 1 .00 valuer special for. tomorrow, the pair Ul $2.50 Long KidGloves$1.98 Women's finest Quality Long - Kid Gloves, 16-button length with 3 clasps, white only, overseam stitch, all sizes; lar $2.50 values, on M AO 01aa7U re, sale tomorrow at, v pahi $1.50 Silk Hose at $1.29 1000 pairs of the famous "Kayser" Pure Thread Silk Hose, with lisle and silk soles, high spliced heels and double garter tops, very elastic, white and att colors, for S1.29 an PEAVINE OCTOGENARIAN DIES IN HAPPY VALLEY - Sidt t Tli. Josniil. McMlnnvllle. 0 Juns 13. The fu neral of Mis. Mary Prlca..aKed 10 jrcars. if of Frdlnsnd Price of Pea vine, took, placa Wednesdajr and burial waa in tha Happy Vally cemetery. Sh mna natlva of Ohio and cam to Oregon in M. E Hatr, Mra. Abigail. Cooper; Mrs. tarah WcKlnley and Mary A. Miller ulna tranddauchtara and four frand- - t- body e Harry Lemon, a resident . . 1 Twenty Five Hundred Stoves a Day! HdvBerScfioii Oil Cook-stove During m season of many montKs thesa stores are manufactured it tha rate of twenty-five hundred a day. THis big-eeale production indicate! i hov immensely popular ttis atoro has become! what 'convenience and comfort it ia to tha housewives of the country. aod will be to you. . The NEW PERFECTION doea all kinde of cooking. It burna oil the cheapest fueL It ia aa . ideal aummer at or many use it all the year round. Far Bail Sasaki Wa RecosMamd PEARL or EOCENE sMit.tk hit Sold by dealers everywhere. Our nearest agency mill gtve you further Information ISIil PORTLAND SAN FRANCISCO GREAT NORTHERN RAILWAY SUMMER EXCURSIONS TO THE EAST Tickets on sale daily until September 30th. Going limit 15 days from date of sale. Return limit October 31st, stopovers allowed in each direction. Atlantic City and return ..............'...$111.30 St. Louis and return 70.00 Boston and return 110.00 Detroit and return .-. 83.50 Pittsburg and return 91.50 Montreal and return . , .. . . . v. ; . . ... . 105.00 Baltimore and Washington and return 107.50 New York and Philadelphia and return 108.50 Chicago and Milwaukee and return .t,.....;.".. 72.50 Denver, Colorado Springs and Pueblo and return.... 65.00 Toronto, Buffalo and Niagara Falls and return....... 92.00 St. Paul, Minneapolis, Duluth Winnipeg, Omaha, Council Bliiffs, Kansas City and St Joe and return , 60.00 r Go east on the ORIENTAL LIMITED, leaves Portland daily 7:00 P. M. Through Standard and Tourist Sleepers to Chicago in 72 hours. Return same way or any other direct route if desired without extra charge. Tickets and Sleeping Car Reservation at City-TicketHfieey tt Third Street or at De pot, 11th and Hoyt St SSI H. Dickson, C. P. & t. a; " - ' Telephones: Mar- shall- 3071.-A-2288. Visit GLACIER NATIONAL PARK thls.summer. Season June 15 to September 15. .Ask for Booklet - f WEEK END TRAIN to Tillamook County Beaches via the -sB"aa (17 SUNSET t- Every Saturday in Summer Leave Portland Union Depot, via Fourth afreet .......... 1:20 P. M. LeaveflTourth and. Yamhill streets ...... t......... ...1:30 P, M. " ' . , Arriving beach points in time for dinner. - ; ).; . RETURNING ' Leave Tillamook Every Sunday Afternoon at 4:15 o'Clock . V Arrive Portland About, 10 P. M. ROUND TRIP FARES Week End (Saturday or Sunday) .$3.00 Good for return Monday. i Season Tickets (on sale daily from June 1st) ,f 4.00 Limit fo? return .October 31st Call at City Ticket Office, 80 Sixth Street, Corner Oak 4th and. Yamhill 'Streets or UnioA Depot John M. Scott, General Passenger Agent, Portland, Oregon -'- ..-.I.