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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Dec. 21, 1913)
THI2 OREGON . SUNDAY JOURNAL, PORTLAND, SUNDAY MORNING. DECEMBER 21. Iftl3. r 11 CONFIDENCE RESTORED -BY PASSAGE OF THE S CURRENCY MEASURE Leading Bankers and Business ' Men of the State Are Well Satisfied. (Continued From Pat Ob.) and r tha important point la that the change haa been htade. business abhor doubt aa natur abhor a vacuum. Tha doubt haa bten removed ahd business ahould Jutnp ahead. A. C. Abrams, capitalist, said: "I am a Roosevelt mart, but I have approved of the Wilson currency measure and am . certain that Ua passage will bring good reaults, The next thing J -want to see la a granting of five per cent Increass in railroad rates. We have been too bard on the railroads. They were guilty, but they have oeen punished. Let them be treated Justly land I be llevs a B per cent increase la a Just demand, Money haa been ao stagnant of lata that it has bed sores, with the tariff settled, with the currency bill a law, money can at least turn over and get out of bed. I am most optlmlstio as to the future. I can't see a. shadow on the prosperity of 1914, and the elim ination of the tariff and currency ques tion from legislation la an important factor in my opinion." Will Help Farmers. Hlllsboro, Or., Dee. SO. Commenting; on the effect of the currency bill, Q. A. Patterson, hardware dealer, ald: "I think the passage of the currency bill will be of benefit to the country. Farm ers especially will be benefited by the new law. The ability to get money at an easy rate of Interest will cause more extensive Improvements to be made by the farmers, and they will add to their livestock, farm machinery, and build ings and will clear more land. The business men of the towns will also be benefited inasmuch aa they will be able to borrow at short notice without paying exorbitant - interest. I believe the law wilt prove to be a good one. R. H. Oreer, merchant, said: "At this time, I do not care to express my opln Ion as to the effect the new currency law may hare on the business Interests Of the cojjntry. There lias- been need of a change and I believe congress hag the interests of the common people at heart In pasHlng the law. They alone will tell the effect It may have on the country. I hope It will be of benefit to everyone, both business men and farmers." will bef mora available to meet the e of the First National bank of Vale, said: attribute the stringency In business velopment needs of the West," "The new currency bill will 'depreciate , during the past few mwtha-;to the un- C. S. Hudson, caehlef nf tha First Na, the value of the country bantf tock.'V I? J&f Jff J il Uowtl bank, said; "Passage f the cur- J, Ralph Weaver, ormer banker ! J"1 fflIP, Jil rency. bill should restore and maintain county treasurer, said: "The email bank , d'8P ' r2!on busin.M confidence. We have a working model must deplete Ua capital stock without "w, ,0' Oron y"?A- " " which ahould eventually become a per- compensating advantagei ; u... ...: W iuaj ui aMii.iv uuuei viuiribii a feet financial machine. If the read- M. O. Hope, leading business man of Justment resulting; be accomplished by Malheur county, aaid: "I am at this sufficient revision downward of high time unable to criticise the Mil, but it cost of living, ana our agricultural re doee-not please me." : eourcea receive attention, permancu. think the passage of the' currency' bill Will have a tendency to instill confi dence 111 the ftublla and Stimulate buel. ness. I , think the uncertainty of It haa caused a temporary stagnation In business, and now that It la over with, the people will know what to etpect and basineaa will resume Its natural level- - " 3. lvltt, clothier: "I am of the opinion that the passage of the cum rency bill will benefit business mate rially. 1 cannot see why any sound minded business man can have op posed "its passage,! Normal business bar beell very 'poor during the , last few months, and I believe it was due In part to the uncertainty of the dis position of this measure. Z look for business to open up now." F. W. 8wlft, general manager and At rector tlaokamas Boutnara, rallwayt "I think the imaU business man and tabllshed , enterprlsee will obtain ool and Immediate' result from the pas sage, of the currency legislation. New enterprises may be retarded for a time, but eventually these, too, will be bene fited, I look for great good to come from this new legislation." - , prosperity should be assured.' Rah t Utah t ::. for Wilson.' Corvallis, Or., Dec. 20. Speaking of Brisk at Newberg.' -.NflWberg. Or Peo, jO.o.ncernlng the passage of the Currency bill. J. W. Chambers said: "I believe that the pas- Has Long Item Needed. , The Dalles, Or.. Dec. 20. Relative to the passage of the currency bill, J. C Hoatetler, caslilef of French & Co.. bankers, said: "The. currency bill Is a Step in the right direction and business dealings will necessarily have to be made to conform to the new syatem." m M. E. Crosby, druggist and chemist "I am more than glad congress has faVored the currency bill; It has oxg been needed and ahould have been passed twe menths ago. The tightness Of the money market and consequent dearth of business baa as Its cause the heldlngtip of this bill. Business gen erally wilt profit by the new regula tion." Feff W- Witaoh, attorney at law and former- district attorney "I have not had n opportunity to examine the amendments te the new currency bill endfc especially in view of the many amendments made no bne can predict in advance how its provisions will work out, but anything which will relieve the present uncertainty In financial circles Is a forerunner for good. It Its pro visions do not prove the proper solution they will have to be changed to suit conditions, that's all. In the meantime some progress will have been made ahd the new bill will prove the entering Wedge." the currency bill. J. M. Nolan, of the sage of the currency bill -was for the Nolan department atore, said: , best Interests of the country." "1 am glad to Bee that the currency Mayor 3. D. Gordon eald: "The quick bill has passed the sedate, as I believe r this currency Question la settled the it will prove entirely satisfactory. It better for alt of us." will surely help business. President b. b. Oorf, manager Newberf Tele Wilson Jld not receive my vote at the phone company, said: "The passage polls, but I believe he is ail to the good; ot tne WU produce a change for and 1 don't like the way soma newspa. tn, better In business conditions." pera attempt to pick flaws in everything N r By9ttt reai ,,tate: "This bill the present administration dtes. we mll certalny brtng aboUt better flnan need currency legislation, and I am iaa claI con(ntjon,. tht,bll,rp;,"ed "w Triii' jit ' F. A. Morris: "The country generally 1i-.Ki,n6' J.Bf3.h0.SiI hf nM BO mueh confidence in the frame partmeftt stort. said -The people have wU1 h confidence been waiting for eurrency legislation, ,.-,,) fhnadt ub1. VrimiS TwillVuHtBmo?e A R. Ruddeil. f.rmW: "I am pleased SSaTta rtSSSSSL XWSS ?fecT that th. bullae passed. The result. Will have on business Is a matter Of Win be good. guesswork, and we will know only when ; Dr. John 6. Rankin: 'The uWcy It haa been tried out" ' 1" right in the form in which It Victor P. Moses, county juage ana i passea ne senaie. ... merchant, ealdl "Currency! legislation has been demanded by the three leading Dolltical Dertles. ehowing that there was national demand for such action. This tn Grande Is in tine. La Grande, Or., Dec 80. In an Inter- belnr the case, I cannot but eee that the th. no-.inir of th nurranrv nuuun bv passage of the currency bill will have a the Mnat ,eVeral men of business oat tendency te create a general tone of perionoa expressed opiniona which are confidence throughout the- business M tha a8gurjng and can be taken worlds m in indication that the bill will have a splendid effect. Fred 3. Holmea, president of 'the L Grande National bank, said: "I think' Pratee the Administration. Albany. Or.. Dec. 20. Agreed that the currency, bill Is a decided Improvement the passage of the bill will be to bet over legislation now on the statute ter conditione throughout the Interior books covering the subject, leading busU ot tne gtata generally.- Such towns as ness meh this afternoon paid tribute to annie, Pendleton, Baker and others the administrate r the eama ,,M wlu be benefitted by Ra McCune, of Chambers) A McCune, f th f t tn t rMerv, accounts wrrS!isa S2SvS financial conditions. The early passage tor Chamberlain "P" or the tariff and currency bills, and the nionta the matter "ctly. These settlement Of these ouestiohe has done regional banks will do away with the much to clarify the financial situation, possible handling of western money. The outlook rer 114 is encouraging to , Business is very good." business Interests." Thoaoas J. Scroggin, cashier of the William Bain, president of the Albany ' United States National bank, said: 'I State bank, said: "The passage of the don't think the passing of the bill will currency bill is a step in the right 31- have eny effect on business, which Is rection. When properly adjusted, it exceptionally good. It will cause a re ehould mean great advancement in the adjustment, of course, but the attempt financial condition of the United tft the bill has not had any bad States." "A comment that placed about 76 per cent valuation on the currency bill seems about right," said'P, A. Young, of effects so far In this city, and I don't think its passage will make things worse." . . . Mac Wood, head of the ooiaen Kuie S. E. Young & Son. "Tne prohibition!. "ZZny and president of the city of nJiMnimiinit nn th, , h Mnm company, una I" . . w f -- .-- . Grande, sala: "j!MSi.ern wnuiwmw than 90 days to run will probably work p?" "8a a great deal of call satisfactorily 'to the eastern manufac- PeoPo ,, ,, similar itter to muiiey uvrv j turer, but loans short of six months are of small value In western farming com munlties." use our Influence to secure the paasage of the bill." &aket Is Optimistic. Baker. Or., Dec. 20. Commenting to day on the passage of the administra tion currency bill by the senate, Fred P. Bodinson, president of the Cltlxens' Na tional bank, commended the measurers one that will be of great Denerit to me Fine for Hood Ttlver. Hood River, Or.,' Dec. 20. Hood River business Interests expect Immediate ben eficial results in the passage of the currency bill. n. B. Bennett, editor Hood River News, said: "If paasage of currency bill haa tendency, which I believe It will, toward removing the present financial stringency, its effect upon business con ditions Is sure to be prompt and sal utary. Because It Is framed along safe and conservative llnee, it promises to be one of the most beneficial acts of the present admmlatratlon. Provisions for loans Upon farm properties should be particularly welcomed by the agri cultural communities of the country, of Which HOOd River is one." 3. A. Moldefi, manager of Bragg Mer cantile Company, said: 'The business interests of the country will undoubted ly feel a new Impetus as the result of the settlement or the currency ques tion. Confidence will Ve restored and the money market will ease up, which will undoubtedly put new llf Into every business enterprise and assure the handling of a much larger volume. of business by the manufacturing, whole sale and retail trade throughout the country." ,, K. O. Blanchard, maybr, and cashier First National bank, said: "Properly ad ministered, the new currency law should be a great benefit to all liftes of busi ness and added protection against fi nancial flurries. The test Of actual op eration may develop needed changes now Impossible to enforce and tha bank should be given some time to make the readjustments that will be required.' Will Benefit West. Bend, Or., Deo. JO. Relative to the passage of the currency bill, E. M. Lara, cashier of DesChntes Banking and Trust company, saldi "In general the passage of the currency, bill cannot rail to belie fit tha general business f the country, especially in the West, By correcting the two worst features of our present system, th centralisation of reserves in New York, and the inelasticity of the ' currency, confidence In the soundness tit our banking Institution Will be firm, y established, ahd the fear of panics averted, money will be easier and there Readjustment Will Follow. Ashland, Or., Dec. 20. Localfexpres- slons on the effect of the currency bill follow: J. W. McCoy, cashier or the United States National bank, and presi dent of the Ashland Commercial club: "The effect of the bill is larcelv BDec- itatti.A in.nhtDJti. mill no . . ATI Hr A OlintTV. more or less of a contraction of credits "I have studied it closely, he earn. In lareer- centers during the earlier "and believe that its paasage and sign- statres of the enforcement of It, owing ing by the president win do a great to tne readjustment or nank balances, boost for an tines oi dubuibb. providing the national banks of the visions include many changes neeaei country are required to furnish the for years, and .personally 1 leei tnat ua monev for the caDitaliz&tlrm and tn car- a-nnA offsets will soon be evidenced ry a Dart of ,thelr reserves with the new throughout the country at large, in the erganlsation. The general effect of the northwest and our own state." passage of the bill in most any rormi Ex-District Attorney W. S. Levens ex submitted Would probably cau at least pressed the belief that the change ir. temporary benefits from the mere set- conditions to be wrought by the new tlement of the question. The subscrip- bill will result in a better general Con tlons to etock the transfer of balances dltion of the country's finances. "Its should cover a considerable period, so as passage 111. he said, "at least do away to disturb conditions in the reserve clt- with the uncertainty of conditions, since ies as little as possible. There should tne bill has been pending. With the be no apparent effect n the country iBSUe Bettled ahd the bill sfn to be banks on this account, owing to the fact come a law,' all doubt as to action of a?rntVa'. aS Lea.dlJy -2,ade congress has been dona away with, and by drafts on one of the new federal ro- ,f administered within the meaning of fhJVJ1!, here of?ro on banks u the measure, general conditions, espe- such -loans.- Time should be at lelst r hot the bi l would pas. Our bust three years, and if so made, would beof neBS "howed it. but as matter of fact, great assistance to rural communities banlt Pa18 ct eastern Oregon, now with proper safeguards for limit of lnat the measuro wln become a law, feel amount to be Invested in thla character much as they did over the wool tarirr. Of loans." I That measure was heralded as a 'bug. Bert R. Oreer, editor Ashland Tidings-' bear" "nl1 'business destroyer,' when act- "A-ltation, rather than the provisions' usually in force had no such result. The of the new currency measure has general effect should stimulate business brought about unsettled conditions In generally, to what extent only trial of business lately. With the Paws ire of , h experiment will sKw." th hill. Ih i JTj ..." i , . ---- - . v .a . i.u, nnu uusiness will speedily adjust itself to the new conditions, and become normal. Expan sion will set in only after readjustment is complete." Forest Grove Elated, Forest Grove, Or., Dec. 20. Local bankers, business men and farmers are elated at the passage of the currency -' I Dill. negaruuiB iu nnn u wt "- ASlOna IS 1 IOT fill. ,ntrv. tn- fnllnwIAff (T. Astoria, Or- Dec 26 " R l) M 1 il Ahm tvlsbft . laABlnna warn tr1vstl! and bankers of Astoria say they expect George Huntington. Currey, secretary an lmprovemeht within a short time of the Commercial club: "Business condi. because of the passage of the currency i tiOhs 4iave not been much below normal bill. this fail. DeDosits are above the aver age and the farmers generally have realised good prices on unusually high yields. Financial conditions are uner ringly sound. No one is dissatisfied with the tariff bill and the passage of the currency bill means still greater ihA law t ,. lo.i ,, -V. . ""- confidence in the financial situation, ... w- ... .in. inai men oi j -.,ir ttnslness Will Follbw. Grants pass, Or t)ec. 20. On the pas sage of the currency bill, E. T. McKin try, mayor-elect, eald: "The fact that the currency bill has been enacted into finance now have a definite policy be fore them, will settle business condi tions. I am most hopeful of the future." Marshall Hooper, banker, eald: need a more stable currency organUa- and assures a record year for develop ment in 1914, and especially so in Wash ington county. W. W. McEldowney, cashier of the Forest Grove National bank: "The DaS- W gage of the bill Will help conditions gen. erally. The present banking system has tion and I believe the bill Just passed been outgrown by development. I cen by the senate is a step in the right dl- elder the most Important feature of the rection. While I do not consider It an bill the re-dlscounting of commercial ideal bill, as a result of Us passage I paper by the regional banks, from tha am sure We Will see better tlmes.V fact that tha local banks will be so C. U. Demaray. president of the Com. closely allied with them, that It should merclal lub, aaid: "Business Interests give the public perfect confidence In suffered througlf the uncertainty of fl- the new bill." nanclal legislation. With the bill E w. Haines, president of the First through .congress "buslnesa conditions National bank, and former president or should Immediately respond." "!the Rift in the Lute." Volat aTi TtkJ 9A.JThtartf1aTVal .. , MffXi ,h. o.ao.r J. X. ... the bill as pasaed is a better measure tne errect or tne passage or cn$' cur- " - , . . km n n vrli- . .u- than I expected at this time. It makes the state senate: "I feel sure that the new bill will be beneficial to the country at large, Most of the objectionable feat ures of the bill have been removed, and rency bill, CO. Nelson, cashier of the First National bank of Vale, said; Th bill appears to be one which will prove a detriment to the country bankers." 7 Interest semi-annually. The cleanest .safest, up-to-date way to Invest your money. Issued in $100 and, $500 and multiples thereof. Hartman & Thompson ..- Main 203 ., BANKERS ' Ask for " A-2050 Fourth and Stark . , Mr. Hartog the currency system more elastic, and places the money reserves where needed. Its passage relievea the uncertainty and l will mall, th AUhlif fMl mnW amura In James a Lawrence, assistant caghler future agalnat possible panics. The bill t 11 i TMMJJJI 'J '. gives the banka wider opportunities to - i j assist the agricultural industry, and ' at the same time safeguards the public. I F. W, Hinman, leading farmer: "The j effect of the passage of the currency bill will be a beneficial one to the coun- ! try at large and to the farming com munities in particular. The bill allows the local banks to get money on com mercial paper, . allowing loans to farm ers on terms which the United States banks prohibited, and at the same time gives all the inspection and supervision provided by the old law, and raora.ee ourlty to Its depositors, C MORTGAGE GOLD BONDS .Oregon City la Happy, v , , 'i Oregon City. Dee. 20. Business men generally in Oregon - City are . greatly relieved at the final passage of the currency bill. The majority, of them 6 A .Mini Sftatemeiniil: to the Clfeemig of Poirtlsumd.' During the next THREE DAYS I shall place on sale every Diamond, Watch and every a rticle of Gold, Platinum and Sterling Silver, in short every article in my entire establishment, AT ABSO LUTE COST. There will be no exceptions, no reservations, no 10, 15 or 25 per cent reductions my entire $250,000 stock is to be sacrificed, at its actual cost to me. Continuing Monday, Tuesday and Wednesday I shall be prepared to deliver every article in the establish ment with the guarantee of this well known house established over forty-three years ago. I tRank the good people of Portland for Saturday's wonderful response. For the remaining three days of this sale there will be an augmented sales force; we will endeavor to serve all who come. Signed) IF Lit ir !neou&lm(lel, Established 1870 310 Washington, Bet. 5th and 6th Final Removal Juieanup Store Open Evenings (111 I) i jHBi Violins $ 3.50 Ones for. $1.65 $ 7.00 Ones for.. $3.75 $10.00 Ones for 154.75 $12.50 Ones for... $0.25 $15.00 Ones for k $7.85 Music Rolls and Bags 75c Ones for........... 45 $1.25 Ones for 75 $1.50 Ones for 03 $1.75 Ones for $1.15 $2.60 Ones for $1.65 $7.00 Ones for $5.40 Guitars $ 8.25 Ones for $4.25 $10.00 Ones for $5.75 $20.00 Ones for $14.50 Mandolins All Reduced - - 3 111 Drums $10.00 Ones to go at...... $0.50 $12.00 Ones to go at .$7.25 $15.00 Ones to go at $0.50 Cornets Latest Long-Model Cornets, quick change to A. Regular price $22.50. For $10.75 Buy It for Him Now. Bugles Same as used in U. S. Army. Regular $5.00 ones for $3.45 Graves Music Co. Ill Fourth Street, Just Off Washington Street. Banjos $ 7.50 Ones for .......$4.85 $11.50 Ones! for. $0.95 $20.00 Ones for $13.85 Autoharps $3.50 Ones for. . . . $8.00 Ones for. $2.45 ..$5.85 -3 A
