1G
THE OREGON DAIIS JOURNAL, PO RTX-AND, SATURDAY, JUNE 21, 1919.
U. S. REGULATIONS
UNDER '
ACT ARE SUBJECT
Portland Grain Men Meet Here
With Committee Representing
Federal Bureau of Markets.
FINAL HEARING ON JULY 10
Meetings Being Held in All Im
portant Grain Centers in Ad
vance of Session in Capital.
Opn discussion of the regulations
proposed by th secretary of sericulture
under the United State warehouse act
was had at a meeting; ; of local grain
meii this morning in the Multnomah
hotel. Excerpts from ' t,he draft of the
proposed regulations were read by rep
resentatives of the chief of the bureau
of markets who are holding these meet
ings in Tarious sections of the country.
MAIfT QUESTIONS ASKED
' Many questions were " raised by the
local grain men. From replies by
Chairman a. L. Mixon of the commit
tee holding the hearings it. appeared
that'nothing in the proposed regulations
would take precedence over state regula
tions where they conflict ; that pro
visions in the regulations for bonding
and for a "reserve of unincumbered as
sets to cover the value Of the grain In
the warehouse at any one time would
make for a lower insurance rate and
would tend to make the warehouse paper
more valuable to the farmer's customer,
: and that bankers in certain parts of the
country have already suggested that
preferential rates on loans might .well
be .given to warehousemen licensed
under' this act.
OBJECTIONS ABE OFFERED
Some of the objections raised against
the proposed regulations and which were
recorded , were that trouble was likely
to arise over the grading of the grain
-where It is put into a warehouse under
' a grade set by one person and perhaps
sold under a grade set by another per
son; and that the matter of insurance
was not properly cared for. some opin
ions in th,is regard being favorable to
the warehouseman holding a policy to
cover all the grain he could put Into
his warehouse, and some favoring in
surance only by the owner of the grain.
, The. other members of the committee
with Mr. Mixon were A. H. Fast , and
S. O. Hilton.
OTHER MEETINGS SCHEDULED
From here the' committee will hold
meetings as follows: Seattle., June 23,
Chamber . of Commerce ; Spokane, June
24,. Davenport hotel ; Great Falls, Mont.,
June 28. Park hotel ; Fargo, N. D., June
28. Commercial club ; Minneapolis, Minn.,
July 1, Pyckman hotel : Indianapolis,
July 3, Chamber of Commerce ; and
Z Buffalo, N. Y., July 5. Statler hotel. The
committee has also visited grain centers
farther south on the way out here. The
final meeting will commence on July 10
In Washington, D. C.
Written: discussions that are short,
clear and to the point will . be received
and should be addressed to the chief of
the bureau of markets in the department
or agriculture, Washington, JJ. c.
YARD SETTLEMENT SOUGHT
Lloyd Wentworlh Leaves for East to
Arrange Sale of Ship Material.
: Lloyd J. Wentworth, supervisor of the
wooden shipbuilding program of the
Emergency Fleet in the Oregon dis
trict, left for Philadelphia Thursday to
confer with officials . of - the , shipping
txusrd regarding the settlement with
yard owners for materials left over
after- the cancellation of 38 contracts for
this district. It is expected that the
owners will soon receive their money.
The failure of the yards to get into
action on the cancelled keels has proved
a hardship on the builders In some In
stances. . ,
American "Lloyds" Proposed
' Washington, June 21. U. P.) For
mation of an American 'Lloyds" to in
sure the new American merchant ma
rine will be completed shortly, it was
learned today when Secretary Daniels
announced the retirement on June 30 of
Captain E P. Bertholf, commandant of
the coast guard. Bertholf. Daniels said,
will be connected In an official capacity
with the new company.
News of the Port
Arrivals June 21 .
Boee City; American steamer, from San Fran
tarn, general.
Tiverton. American steamer, from Ban Frah
ciaco, general. .
Daniel Kern, tng and barge No. 30. from Van
couver. B. C. ballast.
v- Departures June at
Daniel Kern, American tug, for Vancouver, B.
No. 39, American barge, for Vancouver. B.
C, boilers. In tow Daniel Kern.
Meicba Maru, Japanese steamer, for Shanghai,
lumber.
MARINE ALMANAC
. Tides at Astoria Sunday
High water . low water
8:33 a. m...6.0 feet 2:38 a. m... 1.7 feet
8:63 p. m...S.6 feet 3.20 jp.,m...2.2 feet
DAILT RIVER READINGS
800 a. m.. Pacific Summer" Time.
STATIONS
AREHOUSE
. . .
ft ' E0
CsS 3 .5 1
O.S 0.00
1 ....
o o.oa
o.i o.oo
o o.oo
o o . oo
o o . oo
O 0.00
0 .z o . 00
3 -
Wenatchee
liewiston
VmatillA
The Dalles
Engene ........
Albany ......... .
Baiem .,...,..,'
Oregon City. . .
Portland ,
40
22
29
40
ID
20
20
12
IS
31.8
8.9
14.0
21.4
; -2.S
2.8
0.9
2.9
12. S
RIVER FORECAST
Willamette river at Portland" will fall
. AT NEIGHBORING PORTS
.strj. July 21. Arrired at It last nigbt
and left up at midnight: Steamer Krarton
from San Francisco. Wt "1 t
at i 30 a. m. : Steamer Klamath, for San
Francac. Bal ed at 4 a. Steamer Multn"
mah. for San Pedro Tia Saa Francisco. i
miSL k J.Vn, 20- Axriwd : Steamer
fuL ' m .PorUn Balboa. 2 aays
,-San Pedro.-June 20. Sailed at 1 0 "a. aa.
Steamer CoL K. L. Drake, for Portland.
Astoria. June 20. Sailed at 2 n. m
Steamer W. F. Herrin, for (Jartota. Arrived lit
6:45 p. m.: Steamer Rose Cityfrom San Fran
c..ArnTd at 5:40 and left up at 7 V
Tug Daniel Kern towing barge No 89. from
Jf'S.' B" C;,; Arrived at 8:45 and left up
at 6:30 P. nt-r Steamer Bushrod. from trial trip
i-fi v8"!?, 6:80 P- Steamer Fort
beward, for trial trip. : . ..-
. San Francisco, Jnne 21. f. ' x. -S.) Ar.
rived: Steamer Humboldt, Ix Angel ee, 12 80
a. . m. ; Cleone. ilendocino. ii. m.- aVa
schooner Stockton City, sSelter Cove. 8:80
steamer Helene. Los Angeles. 4 m
ArgyU. Portland. 4:80 .. m.:Tilr SheiL Eii
Angeles. 6, a. Standard No 3 (wita balsa
Bride and Groom
iOometo:Portland
-; ; To EstkblislrHome
. South Bend,? Wash.. June , 21. -Miss
Ada Evelyn Cassels, daughter of George
Cassels, pioneer South Bend hotel man.
and John M. Ireland, son of Mr.' and
Mrs. Joseph Ireland of Raymond, wre
married by Rev. O B. Latimer, pastor
of the Presbyterian church in Raymond,
and - left by automobile for Portland,
where they, will make their home. The
groom Is in government employ at Van
couver. - .--
BAPTIST CONVENTION
FOR THREE COUNTIES
IS OPENED IN EUGENE
Representatives ; Are Present at
Three-Day Session From lane,
Douglas and Coos.
Eugene, June 21. Baptists of Lane,
Douglas and Coos counties opened their
three-day . annual . conference of . the
Umpqua Baptist association here Fri
day with more than SO delegates in at
tendance. Rev. H. W. Davis, former
pastor of the : Eugene Baptist church,
and who recently returned from over
seas where he served as a Y. M. C. A.
worker, will have charge of the services
Sunday morning.
Delegates present at the convention
are : Rev. J. H. Douglas. C. K. Dunham,
J. W. Dickson. J. W. Ford. B. W. Sting.
Mrs. C W. Kinsey. Mr. and Mrs. T. S.
Mosher. Mrs. B. B. McKlnney, C. D.
Calef, James Harmon, A. J. Jones, Rev.
E. G. A. Grout, Rev. J. H. Dickson, Mrs.
H. E. Pickens, Rev. E. T. Smith and
wife. Mrs. John - Parker. C. S. Frank,
M. B. Mitchell, P. A. Peterson, Rev. H.
W. Davis, Mrs. Fletcher, Dr. Thompson,
Mrs. Southworth, Mrs. Howe, Frances
Wiles, Jeff Irish, Gordon Fletcher, Mrs.
Fortney, Louis Parker and Ruth San
born. COURT FIGHT STARTED FOR
REWARD FOR FINDING BODT
Eugene, June- 21. Claiming that he
found the body of Thornton Humphrey,
returned soldier, who was hurled into
the Willamette river from the Spring
field bridge when he came in contact
with a live wire, John Gates of Spring
field has filed suit for the J100 reward
offered by the Mountain States Power
company for the recovery of the body,
which was found May 6, 16 days after
the accident. ;
The recently demobilized home guard
company paid James Hayes, farmer liv
ing near Springfield. $50 which had been
offered for the body. Hayes did not
collect the $100 offered' by the company
and turned : the $50 - over to John
Humphrey, father of the drowned boy.
Gates declares that he, and not Hayes,
found the body as tt floated to the sur
face less .than half a mile below the
bridge.
Road Damage Fixed at $1000
Eugene, June 21. S. C Veatch Friday
was allowed $1000 in his case against
the county for alleged damage to his
property when the Silk Creek road was
re-routed, cutting off his pasture from
his barn. Veatch asked for $4000. The
county road viewers placed the damage
at $600.
Talkative Man Jailed
Eugene, June 21. Adolph Elders'
fondness for Jamaica ginger landed him
In the Lane county jail Friday when he
became talkative and was arrested by
Chief of Police Chrlstensen.
Harper Funeral Monday
Eugene, June 21. The funeral of O.
E. Harper, Eugene resident who died
in Portland Thursday, will be held here
Monday. He was 61 years of age. He
Is survived by his wife and four chil
dren, Oscar, Ella, Henry and Jacob.
Prominent Men to Speak
Eugene, June 21.-r-Governor Olcott and
R. M. Stanfield, former speaker-of the
house at the stats legislature, will de
liver addresses at the Fourth of July
celebration to be held here.
Soldiers Will Stop in
Portland En Koute
: One hundred and twenty-six men of
the 318th engineers, 123 men from Camp
Merrltt and 41 men from Newport
News, the latter two detachments be
lieved to be Northwestern casual and
mixed Bervice companies, will arrive in
Portland about noon -, Monday on a spe
cial train. All of the soldiers will con
tinue north to Camp Lewis for their
discharge. An effort is being made to
have the troops stop over In thla city
until 1- o'clock Tuesday morning.
Japan Sees Friend
In Admiral Kolchak
Paris. June 21. There ta n. Anal rea
son for Japan's recognition of the Kol
chak. government. Kolchak has prom
ised recognition of Japanese predomi
nance in Manchuria and Mongolia; also
Japan fears a Bolshevist anti-Mikado
revolution.
91 in tow). El Segnndo, 5:30 a. m.; Chehalii,
Grays Harbor, 6:40 a. m.: Vosemite. Los Ange
l8?' A1 m": Aurelia. .Marahfield and Eureka.
11 :80 a. m.
J3il . I -. m . . .
: -no ataru, new
Xork, 8 a. m. ; British steamer Tascalusa. Cal
cutta. 8:80 a m.
rtved June 20 Barge Fullerton. tug Fearless.
" p. m.; scnooner itue Ben
nett. Tnuga (Gilbert IsUnds) 7:50 p. ra.
Sailed June 20 El Dnrnlo v...n. .n
P. m. ; Tshoe. Grays Harbor. S :6S n m " Acin.
Bandon, 8:55 p. in.; Washington, Eureka, 10 "20
P. m. ; . West Cavanal, Honolulu. 8:30 p. m. ;
Baltimore, 7:30 p. m.; Manada, Norfolk.
Seattla. Jnn.21. I. N. S.) Arrived:
mI I"Tmn Stewart, from San Francisco,
at l : a., m. ; Alaska, from Tacoma, at 7-30
. ianne?0'D8 8 Admiral' Farragut, from
San Diego, via Saa Pedro and San Francisco.
o ?' m: ing, from Tacoma. c
Sailed : S 8. City of Seattle, for Sontlieaxt
A1j. t 10 a. EMridge, for Ta-
; steamer sanu Ana, tor
Soutttem Ataeka. at 6 p. m. June 20.
Fo8t wtKt"? aX8" "U
rf.??B.,f"rco- JM- 20.-11 . s.) Ar
rived. Fred Baxter, front Los Angeles, at 12:30
esS1-: fm!;niTk.- tnm Fort Boss. -at
a. Wl W -.4 , w . ... . . . .
- ... vunuu) via aiaaauan,
Admira Fiewey. from Seattle, at
", " Japanese steamer Taf
anno Main, from Tokohama. at 8:80 a. m.: Si.
Tt . Ul .tr?m Orient and Honolula. al
barkcntine in tow ,- from Eureka, at 11:30 a.
"fnr- W An"'. t 11 :80 Z li
Spokane., tor Los Angetea. at 10.20 a! ml
. J?1 St",P 'of h- Hol-
wood. short Blabwood. Rock Springs
ITALY IS COVETING
GERMAN
COLONIES
IN NORTH AFRICA
Gaspare Colosimo, Minister of
Colonies, Says Allies Allow
Italy but Little of War Spoils.
: l . .
POOR TREATM ENT ALLEGED
France . and Great Britain Get
Holdings to Enlarge Colo
nies,' Praise. Arabian Policy.
By Edsar Ansel Mowrer
Special Cable to The Jonrnal and The Chicago
jjauy news.
Copyright, 1919, by CDJcago Dally Ken Ca)
Rome, ; June t 2i. Signor Gas
pare Coloslmo, the Italian minister
of colonies, looked at me atten
tively.
"Italy has a right to a colonial
mandate in Africa," he said. ""Why
shouldn't we taka the opportunity
of saying to America Just what we
feel? The treaty cf London gave ua
the right to, compensation in Africa
in case France and Britain should
increase their dominion. Both
have done so and what do they offer
us?"
"Rectifications ! of the frontiers in
Tripoli and Cyrcnalca." I murmured.
"As compensation they are Inadequate.
If they are our only gain we can accept
them, but why should we receive special
and inferior treatment In all colonial
matters?" ; ' !
HEED PORT OF E5TBT : '
"The newspapers speak of possible
concessions to Italy in British and
French Somallland," I Interposed.
"They are absolutely useless unless
France cedes to us -the port of Gibuti
Gibuti with other ports are essential to
the systematization of our , colonies of
Erytres and Somaliland. Our viewpoint
is that each nation Should centralize its
holdings In Africa so as to minimize
the friction." The French have most of
Northwest Africa with the Sahara, and
the British hold South Africa with a Cape-to-Cairo
strip, yet France .seem a unwill
ing to cede to us a femall holding on the
Red sea, whose only value is that of
approach to Abyssinia and is preventing
us from systematizing our colonies.
"Gibuti is a small holding of little
value in itself. With only a few, nun
dred thousand inhabitants, a The French
speak of . the existing railroad as an
obstacle. But we are willing to give
compensation for the few miles of rail
road. We can be content with no colo
nial settlement In Africa which leaves
our possessions cut up and useless, and
we appeal to President Wilson to recog
nize the moderation of our claims."
"The president Is not a ; dictator 1
ventured.
PRESIDENT HAS POWER
"True, but President Wilson Is an
eminent figure 1ft the conference. If
he were convinced of the justice of our
cause we should receive our due. Man
dates, according to President Wilson,
should be given to those powers whose
attitudes and civilization make them fit
to have them. We consider ourselves
fit. Have you ever visited our colonies?"
"No, but I had the pleasure of tilt
nesslng the- Italian army's work in Al
bania during the war. Certainly the
measures adopted for the treatment of
the natives seemed beyond reproach."
Confiscation of
Strike Paper Is
Ordered by Court
Toledo, Ohio, June 21. 1 1. X. S.)
Federal Judge Killits today ordered con
fiscated the entire edition of the New
Voice, a radical organ which advocated
a general strike here. Judge Killits an
nounced that he would sentence Alex
Schwarzenfeld, member of the board of
control of the New Voice, to the peni
tentiary next week. Two other members
of the staff are hi Jail. '
The Overland plant and the Autolite
plant continue operation, - no disorder
being reported. ;
Departure of Food
Ships for Germany
Stopped by England
Leith, England, June 21. (U. P.)
Sailing of all food ships for Germany
has been stopped.
Versailles. June 21. (U. P.) That the
Germans have given up hope of inducing
the allies to resume negotiations was
indicated by the fact that the 120 ene
my representatives remaining here were
engaged today in sending to Germany
as rapidly as possible all books and pa
pers, as well as telephonic and tele
graphic Installations.
American Officer
Is R-34 Observer
London, June 21. Lieutenant Com
mander Lansdown of the United States
navy, who -la to accompany the British
dirigible R-34 on her flight to America,
If Germany signs the peace treaty.' is
acting as an observer aboard the diri
gible in her maneuvers over: the North
sea..' : . .- r ;
England Is Swept
By Divorce Craze
- ' .
London, June 21. A divorce craze" is
sweeping England, especially London.
Three London courts granted decree
today at the rate of 15 an hour.-. Out
of 0 undefended - suits, i 35 bad - been
started, by husbands. - The total number
on the calendar Is SOS and 645 husbands
are petitioners. , , ;
Home of Dickens
. v: Off ered For Sale
London, June 21. Bleak House; near
Kings Gate, for 14 years the home of
Charles Dickens,, is for sale. .. i ..... -
SYMPTOMS Of , BUSINESS
GENERAL BUSINESS
CONDITIONS HAVE
IMPROVED MUCH
Bank Clearings Are Larger and
Demand for Labor Increasing
Throughout the United States.
CLOUDS OF DOUBT LIFTING
Lower Prices Believed Unlikely,
Particularly as to Foodstuffs,
Money Market Now Easier.
General business conditions have made
marked improvement during the last . 30
days. The excellent records of the pre
vious month are overshadowed, bank
clearings are greater, labor demand is
increasing, commodity prices are going
higher, merchandise demands exceed the
supply, the money market Is easier and
municipal bonds have steadily advanced.
The pulse of these business conditions
In general is shown In the financial let
ter of the National City Bank of New
York, which covers the situation as fol
lows: . "The symptoms of business Improve-
ment which were visible in April be
came more pronounced in May, and at
the beginning of June the doubt and pes
simism which prevailed ' In midwinter
about general trade disappeared. ' No
body is any: longer apprehensive of a
sudden and heavy slump of merchandise
prices, for ' it has been demonstrated
that in most staple lines . of goodtr of
direct consumption the demand exceeds
the supply. The reports of clearing
houses and federal-reserve banks show
that the Volume of payments through
the banks is greater than a year ago or
at any previous time. Reports from the
industrial centers indicate that the de
mand for labor Is increasing, and, that
there is more talk about a prospective
labor shortage than of unemployment.
In all agricultural districts, but partic
ularly in the South, there is a demand
for men on the farms.
LOWER PRICES TJISXIKELY
"The prices of foodstuffs are now above
the level of a year ago or of last year,
and this fact is generally accepted as
establishing existing wage scales for
the present. If reports are correct as
to the low production in prospect' this
year in eastern Europe and the demand
for food which will be made upon
America throughout the year to come,
there is small chance for a lowering of
prices. This is the strong factor in the
price and wage situation In the United
States.
"The money market Is easier, with
time loans at 54 to 5 per cent, and call
loans at 4 to 8 per cent. Outside mon
ey has been coming into this market, in
dicating relaxation elsewhere,' although
the condition of the federal reserve
banks does not show any material re
duction of loans. " Their total earning
assets on May 29 were $2,402,056,000,
against $2,370,019,000 on December 6,
the high point of last -year. - The total
earning assets of these banks, on May
31, 1918. were $1,301,390,000. In the six
months preceding the armistice they , in
creased about $1,000,000,000, and have
since remained with little change.
"This is the season of the year when
the smallest amount Of credit is em
ployed in carrying foodstuffs, and other
agricultural products, and a consider
able liquidation on this account must
have occurred. On the other hand the
amount of government obligations owned
by the member banks is about $1,000,
000.000 srreater than In Dtramlwr. nd
The amount of bills secured by govern
ment obligations held by reserve banks
is also greater. The time for watchful
ness and caution and for safeguarding
our credit resources Is now.
"As a first proposition let it" be said
that any further expansion of crediL.be-
yond the great volume created to drive
the country's industries at war pressure
is unnecessary and undesirable. It was
not absolutely necessary even for war
purposes ; we could have gotten along
with a smaller use of credit if we had
been more resolute in the curtailment of
private consumption, but in view of the
world situation a large degree of In
flation was unavoidable. It has caused
a great rise of wages and prices, which
does nobody any good except as it does
other people , harm, or in other words, as
it takes from one to give to another.
Thousands of persons who 'are so situ
ated that they cannot readily' have their
incomes increased to correspond with the
general rise, are suffering injustice, and
tney are not. as a class rich neonle.
That the painfully acquired savings of
millions of people shall be permanently
Depreciated, perhaps - one-half . is some
thing 4 not to be accepted i without
thought or objection. . , ; - ,
Now that the war is over this move
The Bank of California
National Association
Founded 1864
Capital, Surplus and Undivided Profit,
' $17,O0O,000X)6
' : ' ' : . v .. . v .
Never in the history of the world has the savings
habit been so popular as it is now, and seldom have
opportunities been so numerous.
" Deposit your svrplus funds regularly with, us in a
Savings Account, which, with trie interest it earns,'
.will soon afford the means, to take advantage of
your opportunity and accomplish something really
worth while. 1 . . '
-. 1 1 - .' ' :. j- : 'V!: ,.),. ' .'. j . -
PORTLAND BRANCH
Third and Stark Street
1
W. A. MACRAE
Manager' ;
ment should not go farther. It is high
ly desirable that at least a start should
be made toward deflation, for none but
the most superficial observers can think
that this wholesale depreciation of mon
ey values signifies real progress. ' There
are, however,,, grave difficulties about a
rapid process of deflation r-they are so
grave that rapidity . is impracticable.
The war was financed in parj by an ex
pansion of credit, as truly as though
gresnbacks had been printed for the
purpose.'". .
PATME5TS REDUCE IHIXATIOir
"The banks , loaned credit to the peo
ple with which to buy the government's
obligations, and , that credit went into
circulation as purchasing power, and is
still in circulation.;; Its use bad. the same
effect upon wages and prices as -paper
issues would have had ; the increase in
available purchasing power being great
er than the increase of goods or labor
supply, prices and wages were forced
up to a higher level., ...
'If this new supply" of credit was In
the form of circulating notes It would
be mare generally Understood . that the
only way to get : back to former levels
was by retiring the paper money, pay
ing off the new Issues and burning them.
This would mean that the surplus earn
ings of the people were paying for. the
war In the same sense as though the
war had been financed originally by
self denial. And so the -only way the
present inflated state oj bank credit and
inflated state of prices can be reduced
is by- having bank loans paid off and
the credit retired.
"Municipal bonds lhave advanced stead
ily since the close of the Victory loan
and the demand on the Street seems to
indicate that dealers are not only ab
sorbing new issues, at advancing prices,
but are competing for round blocks
which have not found permanent lodge
ment In the security boxes of the large
buyers who suffered cuts in their Vic
tory loan allotments.
BONDS WIDELY DISTRIBUTED ;
"New offerings of all classes were
promptly . absorbed . throughout .the
month and in many cases substantial
advances above the offering prices were
reported. The larger bond dealers are
paying - particular attention to distribu
tion and as a result the new issues have
not been sold within two or three hours
after the public offering, but the selling
campaigns have- been carried over -a
period of several days, with the result
that the bonds are widely distributed
among - investors and institutions
throughout the country . and prices have
accordingly advanced. Karlier in the
year there was considerable criticism
directed against the larger houses of
original issue as the result of new is
sues declining on the curb shortly aft
er large oversubscriptions had been an
nounced. . Evidently a careful study of
the situation has been made by the is
suing houses in an attempt to keep new
issues out of the hands of speculators
and dealers who do nbt purchase for re
lease to their clients, but who merely
take a chance on market quotations."
SOUTHERN OREGON TO
ADVERTISE CLIMATIC, !
SCENIC ATTRACTIONS
Commercial Clubs Band Together
to Exploit Region j First
Ads Next Week.
Southern Oregon, through the coop
eration of the commercial clubs of
Grants Pass, Medford and Ashland, ' is
preparing to make a nationwide adver
tising campaign exploiting "the climatic
and scenic beauties of Southern Oregon.
The first work of the campaign will
begin in about 10 days, - says F. S.
Chamber of Commerce and head of the j
Commercial club of Grants Pass-, who
Is in Portland.
"For many years people from various
sections of the country have visited the
southern part, of the state, and they ai
ways come back," says Mr. BramwelL
"Many times we have been questioned
by our visitors why more information is
not obtainable about this part of .the
state.
"Out first advertisements will be sent
to the newspapers next week and we are
arranging for a series of posters and
pamphlets on Southern Oregon.
. Mr. Bramwell reports that the Grants
Pass irrigation district, work on which
was started some time ago, will be op
ened in two weeks. This district em
braces 8700 acres,, of which 6000 -will be
immediately put under cultivation.
All bonds have been sold for the
Grants Pass district and a major part
of the' land has been sold at prices rang
ing from $75 to $400 an acre. Principal
crops will include alfalfa, fruits and ber
ries. - -
J. T. BURTCHAELL
Asst.' Manager
-IMPROVEMENT
RANGE OF PRICES ON
NECESSITIES IS NOT
- LIKELY TO BE LOWER
New and Higher Level of Prices
Governed by Permanent In
crease in Labor Cost.
Chicago,' 111.. June SI. "It is-my be
lief . that the range of prices for the
necessities of life will average Tittle, if
any, lower than at the present, time,"
recently said Julius Rosen wald. head of
the big Chicago mail order house. Sears,
Roebuck & Co., in discussing price ten
dencies. "Thouehj there will be some
exceptions, I do not look -for a sudden
or violent reduction of prices in the near
future aside from ; those which have
been artificially . stimulated."
J. Ogden Armour makes a somewhat
similar statement: "The greatest dan
ger to our economic structure today
arises from the failure of many to rec
ognize a new and higher level of prices,
based on permanently Increased cost of
labor, and high taxation. Those who
postpone building or buying in the hope
of materially lower prices are speculat
ing - in the future - misfortune of the
nation."
And this word comes from Theodore
N. Vail of American Telegraph & Tele
phone company : .'A favorable factor to
big construction is the present - tremend
ous latent demand -for buildings, com
modities, labor and raw material, which
is expected to bring on a period of in
tense activity and national prosperity.
It is also well to consider that, except
ing steel, the rise in the cost of building
materials- has been relatively small as
compared with other commodities. The
price of lumber in: particular may easily
go higher, and In view of the decreas
ing lumber supply may never get back
to the low levels of J,913-U.
That retail prices for food reached
their peak in December, 1918, is one of
the results of the recent investigations
made by the bureau of labor statistics.
There were Blight declines in January
and February, but advances the next
two months. In April, 1919, the cost of
22 articles of food combined wss for
the United States as a whole 18 per
cent higher than in April, 1918. and 85
per cent higher than In April, 1913.
Predicts Success in
Sheep Loan Business
Of Pendleton Bank
r Spokane, "June 21. rjhat ' the ; sheep
loan business irv the vicinity of Pendle
ton will develop rapidly, is the belief
of E. S. Rowe, office manager of the
Spokane Cattle Loan company, who has
returned from a business trip to Pendle
ton. .;.:";..". .. ;
"The Inland Empire bank, to open at
Pendleton about July 1 with a capital
ization of $250,000, will no doubt benefit
from the development of the sheep loan
business, said Mr. Rowe who met with
the new bank officials to confer as to
the disposition of commercial paper. .
BANKING
SERVICE
Your banking require
ments may be entrusted
to this bank "with every
confidence that careful
and efficient service1 will
be rendered. ' '
CANADIAN BANK
OF COMMERCE
. . PORTLAND BRANCH
Fourth and Stark Streets
F. C. MALPAS, Manager
OPEN SATURDAY EVENINGS
6 TO 8 O'CLOCK
pa pa.
A T ION .
poort :
& a a
COMMERCIAL
DEPARTMENT
STATd
MENTI
DCPTl
FttYING AND
COMMtRCIAU &OOKKCtPEBf
o d n n d
a
Easy to Reach Convenient to Use
nPHE central location and convenient arrangement of facilities
v at the Northwestern National Bank cause this institution to
ARE PRONOUNCED
Astoria Becomes 7
." . Financial Center
The Astoria Savings ' bank has been
designated aa a reserve - bank depart
ment, according to information received
by Cashier Frank Patton. "This means
that Astoria is advancing financially as
well as In other Industrial lines." says
Mr. Patton.. "Heretofore Portland held
the reserve system exclusively for this
district and nowVhat Astoria Js recog
nized as a financial center it will bring
tt a vast amount of capital. . It - will
also - enable country banks to-''deposit
funds In Astoria and still have It In
cluded In their reserve accounts."
Attorney to Finish
Transfer
Tacoma, June 21, T, S. Lyle. attorney
for Pierce county In the Camp Lewis
army post .site negotiations, is on his
way to Washington to complete the deal
whereby the government will become-l
owner or 82,000 acres of. land con
demned by the county arid presented to
the United States for a military1 reserva
tion and permanent divisional ' camp.
Attorney Lyle will finish - the transfer
while in Washington,
Ex-Servire Men Organize
South Bend, Wash., June 21. A tem
porary organisation of former United
States soldiers and sailors, to be known
as' the South Bend Ex-Servlce Veter
ans, was perfected Thursday. Earl Fos
ter was elected president, G. A; Sale
rice president and , L. W. Whitcomb
secretary and treasurer.
Wa own and effsr a llirv
Itad amount f atiart tartn
-A yaara and lk ytar-
Municipal.:
Gold Bonds
' Denominations $500 $1000
to yieU 6 and 6
Payabla from direct sanarsl laiat ,
Fulf octal! on application
Freeman
Smith
Camp
NaarmwssTBM
suisi S4S
' " t,
Bank Your
WITH
STATE
A THRIFTY MAN
puts the money he can spare into a
savings account. VThe hoarder puts
more than he can spare into sonic
hiding place. One adds joy to living
the other takes the joy out of it.
FIFTH AND
Opes Satarday
K resist for
, Yosr Accommodation
nORPlSON STREETT
cncrjtT
OEPABTMEW
LOBBV
N.W BANK
BUILDING
NfW
mccumv
CLCVATOR5
III
RECEIVING TELLERS
INTtStOO CLEAfalMO HOUiC
DCPARTMCNT '
stand out as the logical place for busi
ness, household and personal banking.
Consider how well adapted it is to
YOUR banking requirements.
" Important -The Savings Depart-
' . ment is open on Saturday Eve- "
" , - nings from 6 until 8 for the con
, . venience of those who cannot --
! icall during regular banking ,
- - hours.
4
'Services Covering
v ; unctrcitng
Edited by
Joe II. Jordan
National Bank in
Seattle Celebrates
- 49th Anniversary
The Dexter llorton National 'bank of
Seattle, which is the oldest bank In
Western Washington, celebrated . Its ...
forty-ninth anniversary last Wednes-
day. The bank was mads a national
bank in 1910 and with Its affiliated
bank, the Dexter llorton Trust A Sav
ings bank, has resources of more than
125.000.000. ,
There are two national banks In tire .
state which some years ago were in (
friendly controversy as to which is lho
oldest - financial Institution. These ore
the Dexter llorton National, founsr-d
In June, 1870. and the Baker Boyer Na
tional bank of Walla Walla, which will
celebrate Its half century of existence '
next November. The matter was am--
K'amy neuieu wnrn me rtmer iuycr
National was admitted in stats banking
circles to be the oldest bank In Wash- '
ington, while the Dexter Hortort Na
tional has long been known as the old
est bank In Western Washington.
ice
To holders of United States
-Treasury Certificates of Indebt
edness of Series V. G., Dated
February 27,. 1919, and Matur
ing July 29, 1919
"Air United States , Treasury
Certificates of indebtedness of
Series V. G.. dated February 27,
1919, and maturing: July 29,
1919, are hereby called for Re
demption on July t. 1919, at par
and accrued interest pursuant to
the provision for such redemp
tion contained in the certificates.
On July 1, 1919, interest on
ali Certificates of said series will,
cease to accrue. Holders of Cer
tificates of said series shall nev
ertheless have the privilege of:
exchanging such Certificates on
or before July 1, 1919, at par
with an adjustment of accrued
interest, for Treasury Certificates'
of Indebtedness of Series T 4,
dated June 3, 1919, maturing
September 15, 1919.
J.' CARTER GLASS
Secretary of the Treasury
"...
Pay Check
THE
BANK
STARK STS.
Small Aeressts
Welcomed sad
Appreciated
root tut
EXCHANGE
.r reriA rvrMmrre
6 acctnNC TOvt
SrWIMCS BOOKXCCPCa5
l f1 n (1 D fl fl
the Northwest and
the U lobe
M(Qt
in- rt orricEns
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