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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (June 10, 1916)
t 4 THE OREGON DAILY " JOURNAL PORTLAND, - SATURDAY, JUNE 10. 191B. PORTLAND IS TURNED 7 INTO A CITY OF JOY ; ; BY MAGIC OF UALTE - - Wstaid Old City Wakes Up and ;7 Splits Its Sides With Mirth ; as (Sever Before. :- fARADEWAS REAL MARVEL L if CAY FESTIVAL PARTY (fi Officers of Battleships Hosts "1 to Portland People in Ap preciatory Function, ... J V.-.i Tn LIGHT. ILLUMINES FLAG Crowd Drowse Mnslo of Bands imt Mm " WoadsrfaUjr Ooo4 Tim; Journal - Carriers Are winners of FrlM. Captains Toser and WlUlama Preeente With Souvenir Books of Columbia KiTeT Highway as Glfta. ; . , . .- - . , . YESTERDAY'S MILITARY, FRATERNAL, CIVIC AND INDUSTRIAL PARADE SHOWS GREATNESS AND SCOPE, 6F PORTLAND'S ACTIVITIES 1 1 v 11 1 ' ' ' 1 111 ' ' r 1 1 " ' ' 1 1 " NAVA BALL ON DECK OF SOUTH DAKOTA IS ' " l. Staid old Portland mw herself from new angle laat night, that of a citv .V of carnival. From now on aba will be . V known as one of the joy cities of . 7 . 'the world. ,J It was tha Ualtca that did It. a- , The Ualtee procession worked the i. . transformation, untied the bonds of .! (Convention and turned the population . .Into a horde of cheering, dancing, care- ' free merrymakers. " The Ualtee procession, a walking masque ball, forced its way through t.-. thronged downtown streets to thj Fes . tival center, touching tha crowds with the torch of carnival as It paaaad. As 11 passed each block progress 'became more and more difficult. The court of honor and the Festival Center were barely largo enough to hold the peoplo. Crowd Beoomes tha TTaltee. Weird figures, caricatures, comic Supplement features, plerrots. masked . dancers, banda and floats pushed ' along under showers of confetti and Webs of tangled serpentina. - .. The paraders gave themselves over otnpletely to the spirit of tha occa- .- alon. The crowd infected, drowned tha music of bands and songs of tha ' marchers with blasts of tin horns and Overy Jtnown mechanical noise maker. . ' Like a tidal wave the carnival grew and grew until on arrival at the Festi val center the Ualtee procession was Completely swallowed by the crowd. The crowd In fact became tha Ualtee. Ualtee is a Chinook word meaning good time and Judging by the practical lustration last night it Is most a apropos. Bands Drowasd Oat. , The procession was purposely halted t several places along the Una or ' march to give the marchers opportun- ' ny 10 aance nut on arrival at the Festival center many of the banda of . costumed marchers had to wedge their ,' way past the reviewers' stand In single file. Here they unmasked and two bands played for street dancing but the mass of people was to dense that few were able to dance and the shriek of horns Completely drowned the music. t The ualtee procession was led by the band and drill team of Aerie No. 1, Fra ternal Order of Eagles, Seattle. ' 11t Slushing- Brides Head rarede. Thle organisation had a iavisnly decorated float carrying the brides of , five members of the drill team who were married Just before the bunch left- Seattle for Portland to render what afterwards turned out to b6 of . invaluable assistance in making the . carnival of roses a success. The blushing brides were serenaded once In svery block. They were awarded a ;; special prise, a sliver cup. Nearly 400 of the Klks, headed by their band, turned out attired aa bal let girls, and they "cut comic capers" , along tha route. Imagine some of the , . fat boya of the R P. O. F.. gallivanting ... around lnshort skirts of brilliant hue, and thla will furnish some Idea of the tolrth-provoking spectacle they pre- - Seated. Business Man Xeal Clowns. A gang of members of the Progres sive Business Men's club were out in clown costumes, and the Realty board ... had 125 members In line, about half of ' whom were female impersonators. They had a freak band of their own. :. The Ad club and Rotary club fellows. In varletffated freak costumes, "pulled" tunts which kept the spectators In an uproar. Arthur L. Finley was chief mogul ;.- of a "farmer's" band which furnished lots of noise and an Occasional some- - thing which sounded Ilka music In addition to the features furnished by clubs and organizations, there were . Numerous individual entries with all sorts of freak makeups which delljht- d the watchers. . (Jovernor Wlthyoombe Grand Marshal. . . Governor Wlthycombe was grand marshal of The parcde, with M. J. Hleesdlng, C. C. Bradley and Roy W. Edwards as aides. And of course Queen Muriel and her royal suite, with Xlosarlan escort and band. Were in the first division. W. A. Montgomery was the festival director In charge and Dr. ; Elor T. Hedlund was general chairman. Llpman, Wolfe & Co. employes were - In line a couple of hundred strong in clown' Costumes of black and orange. , The Journal carriers were there ar rayed In such motley costumes as only the'fmaglnatlons of boys could scheme out Banners Are Humorous. "If every person who owns one votaa . for me I will be president Ford." v read one of the bannera. Strangely enough a burly figure representing "preparedness" wss followed by a meek-looking person attired in white vestments and s labeled. "Peace." One (' 1 FRANZ Butternut Bread Is Flavored 3L wJrt uf " tWnar baaldae High Qualltr rioo. Pure luia, Ooo Teaat. Bali and ItU ku Water. .That "something besides" eonalata of Rich Eunahlna, Floods of Pure Air that come tnrougn our wora rooms scrupulous Care, Strict Sanitation, Cleanly Expert Workman- snip ana rerzeci eaaing. .. 0t s BlaT Xroaf aad Oomrtnoe Toareelf I BITXTIlsUrUT "1 ' At TOM Orocer, V. B. . BAKZBT, Sast th and 0 . j.;:'. . v,..,,...w.v.. unique costume represented an auto matic telephone. Award of Prises. The prize of $40 for the organization having the most people In line went to the Klks club. Miss Helen Herman and Llpman, Wolfe & Co. spiit the $25 prize for the .,moat artistic character. The Journal carriers captured the $20 prise offered for the most unique character. Mr. and Mrs. J. T. Strauss, 391 Fifth street, were winners of the $15 prize for the most comical charac ter. Judges were Guy W. Talbot. Frank Branch Riley and William T. Pangle. Miss Herman was habited as a domino girl. Mr. and Mrs. J. T. Strauss were the town constable, and his wife, Mrs. J. B. Rogers, as Sis Hopkins, re ceived lfonorable mention In the comi cal character class, while Lewie Huer, as an Igorrotte, received honorable mention under the hed of the most unique character. Charles Rlngler of the Klks, and the seven Suther land sisters of the Portland Gas ft Coke company, also received honorable men tion. Brides on Float. The brides on the Kagles' float were Mrs. Howard N. Smith, wife of the manager of the band and an employe of the Seattle Times; Mrs. Leonie Fried man, wife of the manager of the Aerie club, and Mrs. Will'.am Woodcock, Mrs. Clarence Holben and Mrs. E. L. Miller, all wives of members of the band. They were showered by the crowd with con fetti as a subst.tute for rice and old shoes. LIGHT & POWER COMPANY VALUE IS $45,337,027 'ContlnnM From Pus One commission concerning a single util ity In the United States. Mndlnra May Not Please.' It is doubtful If the findings of the commission will be satisfactory to the company and the possibility is no; remote that the latter will ask for i rehearing. If this is not granted. t will appeal to the courts for a fur ther Investigation of the whole scop of the questions involved. The findings comprise an Intricate mass of comment and figures covering 91 typewritten pages, together with Yes! Madame ms a a AX WATS f Baked fey nandera. is- 'r.i t 1 1 i . If (ft Top, left to right King Tillman parade. Beneath Chinese children, drilled by Miss Johanna various tabulated exhibits from which the following facts regarding the operations and condition' of the Port land Railway, Light & Power company are deducible: It la found that when, in 1905, the Clark and Sellgman Interests of New Tork and Philadelphia effected the present consolidation of the old street railway systems. Including the Port land Consolidated Railway company. , the Portland General Electric com-, pany, the Oregon Water Power & Railway company and the Mount Hood Railway & Power company, they put in $9,887,625.82 In cash and by as suming liabilities and making other transfer arrangements with the old companies effected a consolidation rep resenting a total cost to them and the present company of $30,114,747.82. Much Spent In Betterments. From the date of the consolidation in 1905 until June 30, 1915, the in vestors who had effected th; consoli dation of the companies lncrearod tlie Investment In the present company ty betterments and extensions until at the latter date it represented an Invest ment of $50,900,480.92. For effecting this consolidation the bankers, represented by the Clark and Seligman interests, received an under writing commission of $1,060,000 par value of common stock in the new com pany, worth an estimated market value at the time of 4445.200. In estimating the reproduction cost, the company submitted figures fixing the total value of all its property at $61,040,004, which included an esti mate of $7,489,446 representative of the cost of developing Its business, commonly known as "going value." Working Capital Cut. Included In this was a claim ma?e by the company for. $1,850,000 of working capital, which was refused by the commission. The commission al lowed $1,110,000 for working capital, but split with the company on the allowance to be made for "go In? cost." It held that before the com pany's theory for estimating going cost could be accepted by the commis sion as being economically, logically or ethically sound, it must be made to appear: A That the rates charged were not in and of themselves unnecessarily high. B That they were not In fact fully compensatory. C That rates While In fact reason able, were not unustly discriminatory aa between persons, places or locali ties. D That investments made were in curred with reasonable prudence and foresight & That the properties, of the com pany have been operated at all time with reasonable skill and efficiency. F That tha accounts submitted are full, complete and accurate: that they, relate to utility ope rations only and' N , . - 1 Joy Taylor; drill team of Fram Assembly, United ptisans, one of the SALIENT FACTS ABOUT P. R., L. & P. VALUATION. Salient points of findings made regarding reproduction cost of Portland Railway, Light & Power Company by the Public Utilities Commission show: Company's estimate of value of property, including $7,489,446 for going value i. . . .$61,040,004.00 Company's estimate reproduction cost (new) less ging value . 53,550,558.00 Commission's estirrfate reproduction (new) 45,337,027.00 Less than company estimate 6,325,531.00 Company estimate of reproduction, less depreciation.... 41,701.773.00 Commission's estimate, less depreciation 40823,833.50 Less than company's estimate 877,940.50 Difference between company estimate of property value and commission estimate of reproduction, less de preciation '. 12,626,714.50 Net income losses of company 1912 $ 33,480.02 1913 : v.. 102,105.22 1914 294,175.22 1915 - 820,211.87 Deficit in surplus account , '. 1913 $l,405,525.4t 1914 488,944.58 . mi.::::. .8,417.2? (Decrease in deficit was caused by non-payment of dividends.) Outstanding securities Common stock $20,000,000.00 Preferred stock, 5 per nt 5,000,000.00 Short term notes, 5 per cent... 5,000,000.00 Bond . . 34,964,000.00' . Total outstanding securities 64,964.000.00 " Market value. June 30, 1915 42,459,879.00 that all proper offsets have been made. 1 G That the return claims should be upon the efficient Investment. H That the period covered should be the normal period of development. I That the sacrifice of the investor should be shown. "Kon-trtUlty Property Excluded. The commtssTCn.held In refusing to allow the company to estimate Us going value" that the method of com putation employed by the company in arriving at its conclusions had been faulty and that without additional data the figures submitted could not be A CCB P t Ota , The commission also refused to al low the company to Include "non utility" property or that which was not "actually used and useful for the convenience of the public," la Its statement of reproduction cost. This included property owned by the com pany at Oregon City, now leased or used4y the paper mills there; the Van couver substation; that portion of the Electric bulldins in Portland not actu ally used by the company for tta own purposes; the old car shops at Twenty third atreeta now Idle; the MUwaukie and Oreaham car housea; tha Canemah terminal lands and Canemah park; the j Oaks; the Portland baseball park.-thi " ,w r v Cramer of Ladd school. Bottom Kstacada park and the Estacada hotel property, together with various other segregated and scattered property hold ing of the company over the state. The estimated value of these proper ties' is S6.214.406.07.- Total Capital, $35,000,000. The findings of the commission show that the company has a total outstand ing capital of $25,009,000, consisting of $20,009,000 of common stock, and $5, 000,000 of five per cent preferred, and that approximately 75 per cent of the capitalisation is pad up. Added to HAm BALSAM A toilet presesatioa ef surit Bdss to eredteat eaadrv& Ft IT film il aatrtoCMTwFiM Hair, oot 4 Si.et a Dnrrt-t. .jsssBsaBaasssaaaBaa . v4 1 i. X 7- -ia..:.v 1 . -At OA most attractive entries in the Turnout of O-W. It. & X. this are $5,000,000 of five per cent short term notes, secured by mortgage, and $34,964,000 of Issued and outstand ing bonds, making a total outstanding security Issues of $64,964,000, par value. The market value of these se curities, estimated as of June 30, 1915, was $42,604,121, or $2:.&04,121 less than par. The tiet income of the cornpanv from 1908 to 1915 Inclusive, as shown j by tha company a books, is as follows 1908. $681,032.12; 1909, $852.908 65; 1910, $1,381,244 37; 1911, $1,656,257.45; 11912, $1,622,777.46, a loss of $33,480.02 ; over the preceding year; 1913, $1,- 520.672.24, a loss of $102 105.22 over 1912; 1914, $1,226,497.02, a loss of $294,175.22 over 1913, and in 1913 an income of $406,285.15. a loss of $820. 211.87 over the year 1914. Deficit Oomea Xm H13. The statement made by the com pany shows a surplus made each year up to and including 1912. when It notes a net surplus of $761,128.68. In ' i The 4th A special meeting of the Board of Directors, Stock holders and Officers was fyeld and it was voted to sell out and dismantle the business. For full particulars see our page ad. in The Sunday Journal Section One. Between Washington and Stark Sts. ti . . 4.XV 1 ... 7.' . . ..- ." 1 4 Li -ial i - H . Hi! 2 t 4 V 1 4 this year the company paid dividends amounting to $999,977.60. In 1913 the company had a deficit of $1,405,626.41 in its aurplua account after paying dividends of $2,437,600. In 1914 the company shows a deficit of $488, 944.58 after paying dividends of $1. 062,600. In 1915 the deficit la $8. 417.22, with no dividend paymenta having been made. The dividend on preferred stock, If full paid, amounts to $250,000 annually, so it will be seen that in 1914 the company evidently cut its dividends down to common stock, while In 1915 neither common or preferred stock was given any earning. The commission, in discussing the ret earning power of the company and its abnormal losses during the last few yearn fays: Seasons for bosses. "It will be noted that the lat few years has shown a marked falling off in earning capacity. This la shown .by the record to be due to the following three causes: General and local de pressed business conditions; the ad vent of competition in the electric li&b-MnK and power field, which has taken from the respondent a consider able proportion of its most profitable traffic arid without correspondingly diminishing fixed and running charges and the practically uncontrolled de structive competition of Jitneys, with the Portland city street railway sys tem. While revenue has fallen off, it Is evident that the effect has been kept to a minimum by rigid economy In other directions. To a very consid erable extent the conditions shown for the last three years are abnormal; and the causes for the conditions have ap parently reached the climax of their effect." Kate rixlag Heart Step. The findings made are preliminary to the fixing of light and power ratea throughout the territory of the com pany, and the determination of the complaints made regarding transpor tation charges on the Mt. Hood di vision, upon the Springwatef division. These questions will be taken up for special consideration after 10 days' no tice given to the company and the parties Interested. The commission !n its findings made one definite order, compliance with which must be made within 20 days. This requires the company, in the sub mission of its monthly light and power statements to consumers, to state the amount of the bill in pluln terms, in a single gross amount, keeping sepa rate any discounts for prompt pay ment TTben writing r caltrog pa serertSaers. ! mention The Journil. I Ad. St. Department Store Closed. With rehired flags of all nation forming a canopy over Hie aft deck and a seart-hllght nluvtnir on hun American flag waving In the 'iree', 150 Portlanders danced on hoard the cruiser South Dakota last night, parti cipating in one of the most unusual balls given in this city In teveral years. The officers of the South Pakola and the Oregon were the host, and the ball was given In appreciation of the entertainment given the officers and men of both shir during their few days' stay in Portland. Seek Brightly Decked. The aft deck of the ship was given over entirely to the dancers. String of lights and festoons with the flag entwining adorned the deck, an;l long strings of lights outlined the entire ship ' With the officer In sum! formal dress uniforms and the guest in civ ilian dress, an imumial picture was presented. The music was rurnlalied by a HO piece orchestra of the Houfi Uakota'a band, rated aa one Of the best In the navy. The guests were conveyed 1o the cruiser In launchea from tha foot of Stark street. The launcher; wero from the Kouth Iakota and the Oregon. The guesta were received by Captain Toner of the South lakota and ("aptal.i Wil liams of the Oregon, aKxlstmr by about 16 officer from the two hlps riupinos Serve Oneata. During the evening xuppcr served the guests, the KUIpluo lo ft of the two ships serving the food. Hot i Captains Williams and Toser were pre sented with copies of" Samuel Lancas ter's book of the Columbia river high way, the presentation l.ng made by CX C. Colt, president of the Chamber of Commerce, an souvenirs In appreci ation of the assistance of officers and men or the two ships In th Hoe Festival. Armenian Relief Is Coming in Freely i ; Total of f 2383.88 Received by Trass, nrer Ben Selling More Required, Xowever, to Make tip Oregon's Quota Kellef for the suffering Armenians In Aala Minor Is constantly being re ceived by Ben Selling, treasurer of tha local relief fund. The total to 'ate la I23S3.88, as follows: Previously acknowledged. .,..$2138.13. O. 8, B 60.00 A workingman l.no Mrs. O. E. Balrd 2.0 B. J. Callshaw 1.00 David Htenrns 60.01 A. H. Harding r..(C Charles Feldenhelmer 10. nil A friend 2', Anna Karagozlan 1.4h Collected by Y. M. C. A 21 1 Mrs. H. K. Wheeler ...... 2.01) Jv K. Htern 2.J: Mrs, Rachae) Oaten l.i0 Etelka 1. ParrlMi 2. no A friend fi.fto Joeeph Simon 20.00 Miss M- C. I? 1.00 K. W. W 1 00 O. 1,. H r. oo H. 13 10) E. 8. Brubsker 6. no Jennie Dewltt. Vancouver .... 2.00 William Mac.Master 10.00 N K Eby, Hutherlln 1.00 Rev. R. 6. Thorpe, Marshfleld 2.M S. Trower, Ruckles, Or 1.00 P. R. K 2.r.o O Haef, Mllwaukte 1.00 U. Q. Starkweather, Mllwaukle 2.0 i Kdward Cookinghatn 21.00 K. K Baxter 2. On Kev. W. O. Eliot Jr r. 0 1 Mrs. Percy Allen &.00 Total $2383.91 Belated Frost Nips Mt. Scott District Summer Is supposed to arrive offi cially June 21. Just a few daye away, but the residents of the Kendall dis trict of Mt. Hcott report a heavy frost In that neighborhood lust night. It was sufficiently severe to work dam age to gardens. c Fastening a spring to th side of a nail set, a Massachusetts Inventor ha ratented a tool that will hold a nafl In a place difficult to reach until the point has been driven. v 7 j r ; . - -A - .a- a - ' 1