The Oregon daily journal., March 07, 1915, Page 5, Image 5

THE OREGON SUNDAY. JOURNAL, PORTLAND, SUNDAY- MORNING, MARCH 7, 1915.
UNITED STATES MADE
WORLD MONEY POWER
BY EUROPE'S BIG WAR
-Good American Dollar Galled
Upon to Serve a Wide
Range of Uses,
NEEDS OF LATIN AMERICA
WiU Bo 6oaid.rd at Gatboria of
South AJnTtomsL. "Trmury Agata
at WIiit4rtoii.
TWO NEW U. S. SENATORS
V Washington. Mar. 6. A new era in
American history has begun,, wherein
the United States i a leading world
power in finance. The good Amer
ican dollar, which has been hard at
;work developing: resources in our own
'land, has been called upon to serve a
wider range of use. It has suddenly
sbecoine a world factor.
While such a demand by less wealthy
s countries was ultimately expected in
the natural course of world events,
the European war has broughVthe re
alization that the day had arrived
when the United States Is a money
power in -the world. The sudden dis
ruption of credits in those - countries
dependent, to a large extent on the
nations now at . war awakened the
world of finance to the- power of the
American dollar. ' ,
Through the aid of congress, the
first 'big- movement toward broaden
ing our financial responsibility will be
Inaugurated here. The treasury agents
of. the South American republics will
gather in Washington to present their
eases to the investing public of the
United States. While individual Amer
ican banks and financiers have already
tendered their aid in certain sections
of South, America, doiAt of the respon
sibility of those countries has with
held much that is needed.
Demands of Cesser Countries.
While the demands of the bellig
erents for ready cash are enormous.
'.and 'are more attractive to big.finan
rlerB, the demands of the lesser neu
trals are. fully as -urgent and are ac
companied with the assurance that
greater ultimate benefits to our manu
factures, and trade expansion will ac
crue from the financial expansion
with the neutrals.
It is pointed out that knowledge of
South American conditions is lacking
in the United States. It is not usually
recognized "that the majority of the
South American countries have stable
financial systems. Peru maintains tha
gold basis, as does Kcuadpr. Chile,
when war broke out, had a very large
gold reserve fund in London and sev
eral' millions in Berlin. This fund
remains to her credit, but she may not
be able to get the full use of it during
the war. Argentina keeps her gold
conversion fund intact. Uruguay
maintains a dollar that is worth a
fraction more than the American dol
lar. - ,
The new financial conditions In the
United States, brought about by the
federal reserve act, is a timely aid, to
the possibilities of financing our south
ern neighbors. For the stringency
' for ready cash .has been removed, and
in fact there are unlimited funds avail
able for our own use and the use of
foreign peoples.
WIU Brinjr Better Understanding.
. The forthcoming conference of the
finance officials and experts will sup
plement the work that the diplomatic
representatives of the Latin Amer
ican governments have been doing to
secure , recognition of the investment
values in their countries. And It will
enable those governments to know
what is expected of them. Americans
are conservative ixi whatever they do.
The British, Germans, Spaniards and
Italians who have put millions into
South American investments accepted
conditions which American investors
might refuse. And it is a lack of mu
tual - understanding, as to business
methods that has militated against our"
business affairs with these southern
countries.
'-. The 'attitude of tnV administration
Is a big factor in the present emer
gency. The state department has
shown no disposition ,to repudiate re
sponsibility . incurred under previous
administrations. When Bryan re
versed himself on Nicaragua, he fully
recognized the rights which the Amer
ican banking group that undertook to
reform Nicaragua finances had ac
quired. Un Haytl the rights of Amer
ican interests have been .sustained." Sof
that it may be accepted that there is
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HARRIS, ft KWIM6
Left to right Senator James D. Phelan of California and former
mayor of San Francisco; Senator Paul O. Husting of Wisconsin,
wbo succeeds Senator Stephenson in the Sixty-fourth congress.
hospitable tendency toward the
would-be borrower, and no disposition
to cut bankers who ' may negotiate
loans in the pillory.11
WORK BEGUN
-V- ON COLUMBIA
RIVER BRIDGE
(Continued From Pare One.)
money equal to the gross amount of
their contract on this bridge. Last year
alone they - distributed in payrolls,
taxes and rents in excess of $118,000,
or approximately $10,000 & month, and
so on through the list of successful
bidders.
"Now let us forget the selfisb and
disgruntled, and all get together anor
through cheerful cooperation, by New
Year's day, 1917, have this bridge com
pleted, an honest Job and on time," said
Mr. Hoi man in conclusion.
"Let us thereby Join the fair and
fertile land on the north to the indus
trial center on the south for their mu
tual benefit and prosperity."
"We take what we feel is a pardon
able pride in today's event," said Presi
dent Connaway, of the Vancouver Com
mercial club. "We are glad to cele
brate this event with the people of our
suburb, Portland. While we appreciate
the help that has come to us frdm
Portland, we feel that mere credit is
due the Vancouver Commercial club for
our being here today than to any other
agency. Ij desire to congratulate the
Vancouver Commercial club, the Port
land Commercial club, and to thank the
press of, both cities for the loyal sup
port they have given this under
taking." George L. Baker, speaking for the
Portland Commercial club, likened
Vancouver to ,a handsome young lover
who' came to Portland, the bashful
maiden, with a proposal of marriage.
"At first. Portland was shy," he said,
"not seeing the advantages, perhaps,
that the union would bring. Gradual
ly, however, moved by the ardor of
Vancouver's wooing, she awakened, and
today we witness the culmination of
the courtship. 'I'he circle of citizens
of both cities that surround this spot
may be compared to the engagement
ring. " May we, all be here at the wed
ding when the bridge is completed, 18
months from : now."
Mayor lEvans Speaks.
Mayor Evans, of Vancouver, told
how, in days gone by, the bridge had
been talked of as a remote possibility,
something that might come in time,
but which, on account of the great cost,
would ; be long" deferred. He paid a
tribute to the "few people on each side
of the river" who started the bridge
movement and nursed It until It grew
to realization. ' '
"On behalf, of the people of . Port
land," i said Commissioner Brewster, "I
do not need to tell you that we expect
the bridge to bring the greatest'bene
f its, as much to you as to us. In times
uBnonusBssf
i ...... iifc VST. Jtm -I.-. .r il nr.. ' B
lb jl The Welcome Guest 1
'k 1! 'I rt .i ... . . . :. M
i '
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1 IM
Whether citizen, i tourist or
traveler from a far-off clime
youH find hospitable welcome
at The Portland.
In cuisine l and service The
Portland maintains a standard
of excellence which pleases the.
most discriminating. You" are
courteously ; invited ; to enjoy
the many pleasant features of
this great hotel.
Our tlub luncheons, served
every day from 12 to 2, are be
coming immensely popular with
business folk. .
Delightfuf afternoon teas every
weekday from 3:30 to 6.
Sunday Table d'Hot Dinner
From 6:30 to 8$l
Oroberkral lCnaie Srerr STalx4r
The Portland Hotel
GEO. G. OBER, Manager
.TOlinimiiJiifliiumiimmudiiaiiwiiMmmBHTOniin
gone by communities separated by lack
of transportation facilities have feared
each other. But time will show that
there is nothing to fear from tbe build
ing of this bridge. It will benent Dotn
communities, and I believe perhaps the
greatest benefit it will bestow will be
that, of a better community feeling and
greater community cooperation. We
will not only cross the river, but we
will find we can do many things to
gether, like the building of the bridge.
that we did not dream of doing alone.
"Father" of Bridge Speaks.
J. O. Stapleton, called "the father of
the bridge" in Vancouver, called atten
tion to the bridge as the biggest proj
ect of its kind in the world. He said
that while the credit for the enterprise
had rightfully been given to the Van
couver and Portland Commercial clubs,
the meaning of the remark . should be
enlarged to include the people of Mult
nomah and Clarke counties, who will
pay for the bridge in taxes.
Henry Crass, of Vancouver, related
the vicissitudes that attended the in
ception and early days of the under
taking, and how difficulty after diffi
culty was met and overcome.
"An engineer," said John Lyle Har
rington, "is not a talker, but a" doer.
We, the engineers, are here to build
this bridge. We have no knowledge of
local conditions, and no interest except
to do the work to the satisfaction of
our clients, in this case the people of
Multnomah and Clarke counties."
Frank Branch Riley, of Portland, one
of the original bridge enthusiasts, said
that it is commonly understood that
the toast of one of the unhappy na
tions now at war In Europe had been
"To the day!"
"To the Day."
"And our toast, with peace In our
hearts, has been "To the day! " he said.
"We rejoice that instead of the engines
of war, 'we are unloosing today the In
dustrial engines of peace, and that with
the first shovelful of gravel that is
taken from the; bed of the beautiful
Columbia, we are entering on an era of
better understanding between the peo
ple of two sister states."
Floyd DuBois, of Vancouver, predict
ed that with the completion of the
bridge the two cities, would actually
become one. He declared that Portland
business men would make their homes
in Vancouver because it will be nearer
to downtown Portland than many of
Portland's present suburbs.
C. C. Chapman, of the Portland Com
mercfal club, concluded a happy speech
by expressing his gratification at being
present to see the beginning of the
actual work on the bridge.
Dr. A. ' B. Eastham and Commis
sioner Holbrook also made 'brief talks.
Contracts Assigned. m
Contracts totalling $1,305,063152 for
the construction of the bridge were
signed yesterday, and will be signed by
the bridge commission Monday. With
this work- virtually completed, and
work on the bridge started, JEngineer
Harrington left last night for bis main
office at SKansas City.
- Frank M. Cortelyou, associated with
Mr. Harrmgton, and who will be resi
dent engineer, with supervision over
the - construction work, will arrive
either today or tomorrow, to remain
until the bridge is completed. En
gineer Howard, also associated - with
Mr. Harrington, will remain in- Port
land for the present.
The Pacific Bridge company, which
began4 work on the bridge yesterday,
has contracts for the superstructure,
or piers, amounting, to $439,174, the
largest amount of work given to any
one firm. . . -
The Interstate Bridge commission
will meet at the Multnomah county
court house Monday at 10 a. in. for a'
conference with C. C. Colt, of the Pen
insula Industrial compajny, which owns
13 acres needed for the Union avenue
approach to the bridge, and 11 acres
for the proposed Derby street ap
proach.. Deeds are held by the com
mission to all other land needed for
approaches. .
lianey s which experts who witnessed i
the race this afternoon "declared
marked him one of the greatest
driver In the history of motor racing. :
Be 7alm Wlu Tixwt up.
B tartar Lewis Wagner aent the
racers away one minute ahead of
scheduled time, at .12:29. Ds Falma's
Mercedes, Ourant's Chevrolet, and
Resta's Peugeot leaped forward at
the signal and roared dowhXhe course.
Behind them Pollen,- Bragg and Rlck
enbacher were lined up and ten sec
onds later they, too,- shot forward.
Orant, Marquis, Ruckstell and the
others follpwed In rapid succession,
and within three minutes 31 machines
were tearing around the course.
To De Palma went the glory of
winning the first lap, but the honor
was short lived. KicKenDacnerrquica
lv .nassed the two-time winner , and
then Resta shot into the lead. To the
sixth lap De Palma. hung on. to the
rear wheels. of the swift Peugeot and
made a magnificent effort to regain
the. lead, to the tumultuous cheers of
the stands. But it availed him not.
Resta, smiling grimly, maintained the
advantage. j ..
Rickenbacner Drops Out.
Rickenbacher , was' the first to go
out of the race, engine trouble elimi
nating him in the fifth lap. Louis
Nikrent's Mercer suffered from the
same trouble and he withdrew a few
moments, later followed quickly by
Jack Lecain (Chevrolet) .and R. C
Durant (Chevrolet).
Tom Alley pushed his Puesenberg
into the lead in the tenth lap. Up
to that time tbe pace set by the lead
ers had i been- terrific, averaging 71
miles an hour. This was considered
remarkable In view of tbe short course
and hairpin turns that abounded. Al
ley held the dominating place for five
laps and then Resta came back to his
own with a rush. EddieC PuUen was
close behind, with Bob Bur man third
and Barney Oldfield fourth. Oldfield
early in the race tried to change his
luck by discarding his usual cigar.
but later returned to It . -
Fallen Jumps Into Xead.
At this stage came the finest exhi
bition of driving in the whole race.
Pullen. who had been making .a se
ries of sensational efforts to catch the
flying Resta, put on an extra burst of
soeed and shot Into the lead In . the
twenty-third lap as the leaders were
passing the main stand.
Twice around the course the roaring
cars sped, never more than 100 feet
apart, and then the thousands burst
into wild cheering as the Italian took
tho commanding position. Pullen
would not be denied, however,; and
Resta wis going into the twenty-ninth
lap when he finally shook off his pur
suer and pulled away. During this
period it was estimated the leaders
were doing better than 70 miles an
hour. They hurled their cars on two
wheels around the "Purgatory Bend."
near the Presidio, and" the right angle
turns into, the Esplanade and at Ma
chinery Palace, r
Tire Strikes Spectator.
The twenty-fifth, thirtieth and thirty-fifth
found Resta still maintaining
his lead and driving coolly and with
determination. At the end of the
thirty-fifth Ruckstell had displaced
Burman in second place and Pullen
was hanging on doggedly. The first
accident occurred at this stage. Cap
tain Kennedy's Edwards special threw
a tire, which struck a spectator and
rendered him unconscious. The emer
gency hospital reported him not se
riously injured.
Ten more laps whirled byvand the
Peugeot remained In the lead. . At
the end of the forty-fifth Resta had
everaged 67 miles an hour and was
, - - ' ' 1 . ...'. . .. -
WHEEL GIVES DEFINITION
r(( "W i Vol
I I - yiCTDRiA bA ' ' - I ril
" """" "
Worn ... ihAt Urn terw&tA tf fmmtt
W fWegW dfictastdtlu ' rfowrtrd
Wilcox, Itt the test staged f th oe
calm front behind arid wrstedl sweoirf
placet front -Pullert, few noitWer
was5 fie&r U the wirirterv
Barney Oldfield, the- veteraf 4HVf,
finished - Seventh. . Only 1 & cais f I n--1
shed, all of the other 31 original start"
erss ; having " been eliminated by, acci
dents or" trouble1 Of some sorf,
' Seattle 9Ien At Kedniontf
Redmondj dr.. March" . X number
of Seattle' capitalists and mining men
are here this1 week, looking over the
mining prospects' along the Deschutes
near fSerfrtTnvf, ; u tim $iv f9
V, tf Sk-Vnr, tiooff i U, xurly, ',
G(uYrt, t, it, tvi; t -V',
DV Js, tnity, W, -J SHer if., OU-
f$ SfSy, Thei tarty ticodnpaMi
by Usf eninrs. ::: th'S fstoYs
peet o nwi here several ysi,
Alarm Inc; '
From' Uie Pittsburg DtspafefA.
A proposi! to1 divide' Texas' into
states so' f one- of them", the? WpRfri
half, can lo "dry."' carries' disViulett-n
tpossibilitii!S If every stafe' fe fyv t&
divided uj accord in"?; to 8ectionsii pifs
ment or iwues1 4nt k&ive wWn to it
Uikely to end? .,
m .ii i.i.i i i. in.. .i. ml
RESTA WINS GREAT
AUTO RACE BEFORE
v CROWD OF 100,000
' (Continued From Page One.)
which American sportsmen boasted
for many years. v
More tbani 100.000 persons packed
the grand stands that surrounded the
course and watched what many called
the most thrilling race In the history
of the VanderbHt. The weather was
Ideal, sunshine flooding the course
practically: all day long. I Conditions
contrasted sharply with those of last
Saturday, when Resta demonstrated
his ability; to win in the face of any
conditions by riving to victory , the
same PeOgeot "he piloted today, despite
a torrent of rain.
- xo tne intrepid Italian S came the
zamous vanaerbilt cup and a cash
iira. . wucoxg - prize was
9zvv ana iiaai Pollen gets $1500.
-e faima and ; Carlson will ; receive
ioo and 500 respectively. Seldom
has a driver demonstrated hts superior
SKiu in suciv marked manner as - did
Resta today. He took the lead In -the
first five-laps and, except for ten
laps early in the race ? and ' brief
periods thereafter, he was never seri
ously threatened. He showed a bril
Portland delegates to the Northwest
Rotary convention in Victoria returned
last week.
They presented to the convention a
long-sought definition of Rotary as
applied to local clubs and the interna
tional organization.
The definition was In the form of a
wheel. It was built before the eyes
of delegations from the Pacific north
west cities, accompanied by a cere
monial written by Nelson G. Pike and
participated in by the other Portland
delegates and one from each of the
cities represented.
So favorable an Impression did the
ceremonial make that it will probably
be repeated in the international con
vention of Rotary clubs to be held in
San Francisco next summer.
The delegates from Portland to the
Northwest .Rotary convention were N.
G. Pike, chairman; C- V. Cooper, Joe
Sandvall, A. L. Gage, I A. Spangler,
Frank J. Durham, J. T. Wilson; R. U
Atklnson, James Coons.
Mr. Pike had before him at the be
ginning only the hub. One by one
he was Supplied by the delegates with
the spokes of character, truth, loy
alty, fellowship, service, esteem, suc
cess, all of 'which he declared neces
sary to the Rotary Ideal. Then the
fellies, rimming the spokes; furnished
by the clu,bs of tbe convention from
Vancouver, Seattle, Spokane, Calgary,
Victoria. Tacoma, Portland. Finally
the iron rim of unity, binding clubs
and principles together for mutual
betterment; The wheel complete was
presented to the club of tbe convention
city, Victoria.
more than two minutes ahead of Wil
cox, his nearest opponent, who was
only 30 seconds ahead of Burman. Two
laps later Burman's car, rounding the
Machinery Pajace, turned, skidded and
turned over. The car was wrecked
and both Burman and Mechanician
James Cleary were thrown' out.
Cleary's leg was broken and several
ribs smashed, but Burman was not
hurt.
One Car Wreoked.
The sensational pace set by Resta
was beginning to tell on his rivals,
and from this time forward his su
premacy was never seriously ques
tioned. Pullen was evidently the man
ha most feared, for when the Mercer
made a stop for gas shortly after 3
o'clock Resta took advantage of the
opportunity and made his only stop
also. He was at the pit only 30 sec
onds. Tom Alley and Edward "O'Donnell,
driving Duesenbergs, went out of the
race Within five minutes of each other.
Alley broke a piston rod and ,OlDon
nell's car: turned completely over.
Neither man was. injured, although
O'Donnell's machine was completely
wrecked, jj . '. 'j
At the sixtieth, Resta ws more than
six minutes ahead of Pullen and Ruck
stell. Each of these shortly after
wards made a final' bid for the trophy.
Fifteen Cars Finish.
Pullen dropped back defeated before
the seventieth lap and Ruckstell took
up the attempt. With only seven more
laps to go, he set sail sensationally
for the' Peugeot and drove so reck
lessly that spectators blanched as he
flashed around the perilous turns. In
the seventy-third lap he disappeared,
falling to reappear ; in front of the
main stands. A moment later came
word that his car had duplicated the
accident to O'Donnell's and at exact
ly the same place. In front of the
Massachusetts building. Neither Ruck
stell nor bis mechanician was hurt.'
If you ever expect to own
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Phonograph
SEE US I
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DOUBLE STAMPS ALL DAY TOMORROW
The: lad with a garden this summer is the lad with a PURPOSE. There's plenty
of ground vacant to be had for the asking, and WE have the RIGHT SEEDS
and all that goes with them. '!
Morse's Coast Crown Seeds !
Concentrated Fertilizer 1
- The Tools .That Make Good i
The Directions that Count
Sprays and Pumps I
. Insecticides Bugicides
COME IN AND LET US HELP YOU
VEGETABLE SEEDS LAWN GRASS SEEDS
Lettuce, radishes, onions, parsley,- Kentucky blue grass, lb. . . . j . . . . . 25
parsnips, beets, spinach, peas, beans.v j 5 lbs ... . . . ... ... . .$1.00
peppers, salsify (vegetable oyster), tur-j Golden Gate Park mixture, lb. .. .25
nips, tomatoes, carrots, cabbage, Brus-4 5 lbs. . . . . . .. . . . , SjJl.OO
sel sprouts, Wumbers and many others: Old Dutch White Clover, lb -60
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FLOWER SEEDS Roselawn Fertilizer, 10-lb.. pails: .50
Sweet peas, common variety. . . . . .5 ?nd fulphur Solution, quart 25
Spencer sweet peas, single variety lo Aphicide, for sucking insects, qt. 50
Spencer assortments; 75 and $1.00 R?se a?d rmt SPrar' for ;leaf citmS
Small flower seeds of every kind, pkg. ejects, qtv . . . . .50
S to er7i Bordeaux Mixture, for summer and
........... ,y winter, qt. : i..: .40
Morse's Garden 'Guide Free ; Hand Spray Pumps, each. .1 . ... .50
With the First
Signs of
Springtime
It is the pleasure of this
house to present the nev
Spring styles of the famous
Stein-Bloch
Smart Clothes
Adding another season to
the long time during which
the name STEIN-BLOCH
has stood for the highest
ideals in tailoring. ..
The clothes we show today represent the skill, the
knowledge and the pride of inherited traditions gained
by the makers from "Sixty Years of Knowing How'
$15 to $30
BEN SELLING
v - MORRISON AT- FOURTH
h:. Ate ,i
o
mm-
W!
HILE the entire
damage and incon
venience of the recent
fire in my office is not
entirely remedied, our
patients are being cared
for as usual and all will be
waited on promptly and efficiently.
Patients are asked to cooperate
with us in keeping their appoint
ments as promptly as possible and
thus help us during the temporary
inconvenience.
I wish at this time also to
thank those who in various ways
assisted tis in the work of resum
ing business after the fire. The
misfortune is not great and in a
few days will be a thing of the
past. ' . 1
Those who desire a copy of
my book on the care of the teeth
can have same sent free by mail
upon application.
TTft
rainless
Dentist
Sixth and Washington, Portland
Other Offices in
San Francisco Oakland ' Los Angeles
Brooklyn, N. Y. -.. San Dicgd Bakersfield
Is Iupturecl
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