The Oregon daily journal., September 24, 1919, Page 18, Image 18

18
THE OREGON DAILY JOURNAL, PORTLAND, WEDNESDAY,. SEPTEMBER 24, 1919.
STRIKE SETTLED;
CEREAL WORKERS
TO BE
Adjustment of Labor Trouble at
' Flour Mills Also Means Long
shoremen Will Handle Flour.
PORT AFFAIRS, BENEFITED
Tie Up by Longshoremen Who
Went Out in Sympathy Had
Delayed Departure of Vessels.
The Btrike of cereal workers and long
shoremen was terminated today as a re
sult of 'the meeting of a committee of
the millers and of the unions Involved
last night. A satisfactory agreement
was reached whereby the cereal workers
" will return to their old positions at once.
The longshoremen and grain handlers,
who in sympathy refused to load flour
aboard ships awaiting cargo, will re
purne work tomorrow morning . Crews
of ship liners were at work this after
noon
The three flour carriers now In '
the harbor, the West Munham, the West
Cheev.ald and the West Hartley, will be
loaded as rapidly as possible.
Serious loss to Portland wag Averted
by th ?ettlement of this strike, as the
urgency of the flour shipments demand
ed immediate loading, and the vessels
now here were to have been sent else
where for loading and, other cargo car
riers. Intended for flour loading here,
were to have been diverted.
ASSIGNED TO PATROL DUTY
New Chapter Follows in Career of
Coast -Gourd Cutter Algonquin.
Following an Interesting career on
the Atlantic, coast and In the war zone,
the United States coast guard cutter
Algonquin, has been assigned to the
North Pacific for patrol duty and Is
now lying at Seattle.
The Algonquin's station probably will
be Astoria, according to information
received today from I'uget Sound. Dur
ing the war, while the submarine ac
tivity was at its height, the Algon
quin was in the convoy service be
tween Gibraltar and the British Isles,
probably the most dangerous stretch
of water in the war zone. The coast
guard cutter Tampa and the third class
cruisers Birmingham and Chester were
other members of the convoy fleet with
the Algonquin.
The Tampa was sunk. The Birm
ingham Is now a member of the Pa
cific fleet. The Algonquin reached Se
attle from the east coast August 10.
The coast guard vessels were only
released by the navy August 28, and
are now being reassigned to their peace
time duties. Captain W. A. Wiley,
who was aide for information to the
intelligence officer of the thirteenth
naval district during the war. Is In
command, and Lieutenant D. K. Whlt
bck is executive officer and navi
gator. The Algonquin was stationed In San
Juan, Porto Rico, before the war, and
previously was stationed at Southport
and Wilmington, N. C. She Was built
by the Globe Iron Works of - Cleveland,
Ohio, In 1898.
TIE CARRIER NOW LOADED
Steamer Urentwood to Sail for the
L'nitcd Kingdom.
The steamer Brentwood, which has
been taking over part of the cargo of
ties from the Dertona at the Victoria
dolphins, is now loaded with the ex
ception of coaling, and will leave down
for the United Kingdom Thursday.
The steamer Latoka, a Ferris type
built by the Grant Smith-Porter com
pany, will take the balance of the
cargo of the Detrona. The latter
ship will then ve shifted toJdry dock
for repairs. The Dertona developed
a ' leak on her loaded sea trial. As tho
Dertona carries 4500 tons and the
Brentwood is a 4000 ton vessel, it was
necessary to transfer the balance of
the former's argo to the Latoka. This
vessel has just been outfitted at the
I'aclf ic . Marine Iron Works, and is
now taking on stores at municipal
dock No. 1.
TO ADVERTISE LOCAL PORT
Port Commission and Public Docks
Commission Join in Plan.
In .joint session Tuesday the Port
of Portland and the public docks com
mission appropriated 13000 to be used
In advertising the harbor facilities of
Portland in nautical and commercial
magazines for a period of one year.
The wish of the two bodies for recom
mendation to Washington for Columbia
river improvements to include a chan
nel to the sea not less than 600 feet
wide and feet deep 'was embodied
in a resolution to be presented to Col
onel J. K. Slattery, district engineer
In charge of lower river improvements,
by John Doyle, secretary of the port
commission.
Changes in the river ferry service,
agitation for a 35 foot channel and
the dredging of Swan Island, as recom
mended by Secretary of the Navy Dan
iels, will be discussed at a meeting
of the two commisisons, set for the
afternoon of October 3.
TO SAIL ON OCTOBER
Steamer Dewey Second on Portland
European Service.
The' Dewey, a 9600-ton steel steamer,
now loading on Puget sound, the second
of the scheduled sailings from this port
for London and Liverpool direct, is ex
pected her shortly and will sail Oct
tober 7, according to an announcement
by the Columbia Pacific Shipping com
pany today.
The Dewey will take cargo at- the
Fifteenth street terminal. The second
boat of this line is destined to sail
about the same time for Scandinavian
ports, but exact' sailing date has not
yet been "announced.
. Increased Rates Asked
San Francisco. Sept. 24. (U. P.) The
Pacific Steamship company has applied
to the railroad commission for an In
crease In 'freight rates, declaring the
company lost $166,463.29 during the
seven months ending July 31, 1919.
Further increases' In operating expenses
effective August 1, 1919, will double the
loss, it is claimed.
ALL ALONG THE WATERFRONT
The branch hydrographic office has
issued a notice in regard to the dis
..... covery of an uncharted reef with IS feet
i of .water in the entrance to Tenakee
Inlet, Alaska. Its position is approxi
mately three fourths of a mile, 200 de
S.Krees (SxE) magnetic, from the east
SUME WORK
TRAFFIC MAN GIVEN
HIGH POST IN U. P.
- 4 f ' 'V 7
Harry 41. Adams
Harry M. Adams, assistant to Director
B. F. Bush of the southwestern region,
U. S. railroad administration, has been
appointed vice president of the Union
Pacific system. Announcement of the
appointment received here indicated inai
Admas will be in charge o the traffic
department of western lines of the sys
tem, with headquarters at Omaha. The
appointment was announced by Presi
dent R. S. Lovett of the Union Pacific
system and becomes, effective October 1.
Adams is well known in Portland and
throughout the northwest He received
his early training In railroad work on
northwestern lines and was appointed
assistant peneral freight agent of the
Oregon Railroad & Navigation company
fin 1!)02. Afterwards he was appointed
traffice manager of the Spokane, Port
land & Seattle road and was later freight
traffic manager of the Western Pacific.
When the war started Adam was
traffic manager of the Missouri Pacific
and was called from this position to
Washington to take charge of troop
movements and waterways transporta
tion for the war department. His ap
pointment as assistant regional director
for the southwest came after the
armistice was signed.
point of Chatham straits. Pending an
examination, this reef will be placed on
the succeeding editions of charts as po
sition doubtful. 4
The steamer Shasta arrived In the
river today and began loading lumber
for southern California at St. Johns.
The City of Topeka of the Admiral
line berthed at municipal dock No. 2
today with passengers from San Fran
cisco and with passengers and freight
from Kureka and Coos Bay.
The barkentine Hesperian, in tow of
the tug Relief, left up from San Fran
cisco yesterday for the Columbia river.
The boat is to load lumber for South
Africa.
The Coaxet, second of the Oriental
liners to leave this port, arrived Sep
tember 22 at Hongkong. She had pre
viously touched at Yokohama and Naga
saki after sailing from Portland on j
August 3.
The wooden steamer Diana of the
Supple & Ballin yards started on her
river trial trip this morning, and the
West Raritan of the Northwestern Steel
Co. yards was also In the river for
her first trip today.
The schooner Alumna completed her
cargo of lunfljer at the Inman-Poulsen
dock and staged down the river today
for Sidney.
News of the Port
Arrivals September 24
Shasta. American steamer, from San Pedro,
ballast.
City of Topeka, American steamer, from San
Francisco, Eureka, Coos Bay, pansemers nd gen
eral. Departure 8eptmber 24
J. A. Chansler, American steamer, for Gariota,
ballast.
Alumna, American schooner, for Sydney, hun
ter. Washtenaw, American steanitr, for Port San
Luis, ballaat.
Departure! September 23
T.a Merced, American motor schooner, for San
Pedro, ties.
IAILY RIVKK KEAIIIXOS
8 a. u., Pacific "Summer" Time.
STATION!. s
rmatilla. 25 2.7 -0.1 O.Oft
Albany 20 0.8 -0.1 0.00
Salem 20 -0.6 0 0.00
Oregon City 12 4.3 0 0.00
Portland ... . 15 4.2 0.3 0.00
f) Kiiing. (-) Falling.
RIVER FORECAST
The Willamette rirer at Portland will remain
nearly stationary during the next two days, ex
cept as affected by the tide.
MARINE AUIASAC
Weather at River's Mouth
North Head, Sept. 24, Conditions at the
mouth of the river at noon: Clear, wind north
2 miles, sea emooth. Weather clear, humidity 57.
Tides at Astoria Thursday
Hish Water Low Water
2.17 a. m 7.6 feet 8.44 a. m 1.1 feet
2:19 p. m....8.4 fe 9.0'J p. m....0.0 foot
AT NEIGHBORING PORTS
Astoria, Sept. 24. Sailed, at 7.30 last nisht.
motor schooner lessen, tor San I'edro. Arrived,
at 7:30 last night and left up it 8. steamer
Shatta, from San Tedro. Arrived at 4 and left
up. at 5 a. m., steamer City of Topeka, from
San Francisco and way. ArriTed down at 7 a.
m., motor schooner 1a Merced. Arrived, at 10
last night, f trainer Daiay, from San I'edro. Ar
riTed, at 11:19 a. m., steamer La Primera,
from San Francireo. Arrived, at 11:30 a. m..
steamer Claremont, from Han Pedro.
San Francisco, Sept. 24. Sailed, at 2 a. m.,
steamer Tahoe, for Portland. Arrived, at 6 a.
m. , steamer El Segundo, from Portland.
.Hongkong, Sept. 22. Arrived, steamer Coax
et. from Portland, Or.
San Francisco. Sept. 23. Sailed, at 2 p. m..
steamer Ilo?e City, for Portland. Sailed, at 4
i. m., Damermne ne&penan, in low ol tue Re
lief, for Columbia river.
San Francisco, Sept. 24. (I. N. 8 ) Ar
rived Sept. 23 Carmel. Grays Harbor.' 12-2.-.
p. m. ; British steamer Tascaltisa, Hongkone
3 :05 p. m. : Argyll, ScatUe, 4:20 p. m- gas
schooner Stockton City, Shelter Cove, 12:05 p.
m.: Manoa, Honolulu, 5:45 p. m. ; Nome City
Port Angeles, O p. m.
Sailed, Sept. 23 Schooner William E. Burn
ham. Napier. 12:40 p. m. ; schooner Rose Som
ers Papeete, 150 p. m. ; Hose City. Portland
r. J"' : ,tUg S.tV FsU' towlne br Simla,
lort San Luis, 2:lj p. m.: tug relief, towing
barkentine Hesperian for Astoria, and schooner
t,oluen Shore, to Tancouver. 4:43 p m 1" s
S. Prairie 5:05 p. ro.; Meridtn, Seattle, 5 10
p. m. ; I rank H. Buck. Los Angelea, 10 :43 a. m
Asuncion. LI Segundo. :40 j. m. (not nre
vioujly reported); Charles Christensen. Gray,
Harbor, 5 4 u p. m. ; Pafmdena. Albion. 8 50
P m.; Chehaha, Grays Harbor. 8:30 p m
Westport. Crescent City, 9:05 p m
Saa Francisco. Sept. 24. Arrived Ernest It
Meyer. I-os Angeles. 2:4.1 p. m . cieeoi.;'
Pigeon Point, 4:20 a. m. : Helen P. Drtm a
docino a. m.; Humboldt. Los Angeles, tt-43 a,
m. ; b. S. 8. Ins. Seattle. 8 a m a- '
Bandon. 8:40 .. m.; El Sen0, Astoro'
,Sve, Gray, Harbor, 10:15 I 'm"
Astral. Nagasaki. 9:20 a. m a. m. ,
SaUed Mayfair. Seattle. 2:50 a, m.: S. V
bUrivet -I-Srm25 oeCoHW
Seattle, Sept. 24. (I V 8 1 Ai-rf.i a
9 -30 'I L -StUl- SoutheasierlTJsti-. fi
9.30 a. m . J. A Moffett, from San Pedro at
. m. Arrived, September 23, S 8 tath.rin
D. from Southeastern Ahuka ri BeUinlham.".!
.t 7 Jf ApeI- 'rom Southeastern Alalia,
at 7 p. m Saa Juan, from Southeastern Alaska
tug iMniel Kern, from Bellingham towinarTcow
Sailed. September 23. S. S, Hyaoif Ur,
Harbor, at midnight. ur5r
Valdez. Sent 143. L N. S.) (I. N 8)
Silled. 8. 8. Northwestern, southbound, at 2 n m.
Ketchikan. Sept. 23. (L M. 8.) Sailed, a.
. .- . f ' , .
UNDERPRODUCTlONAND
PROFITEER
AS H. C. OF L
Pressing Need of Reconstruc
tion Period Is to Increase
Production on Big Scale.
Underproduction and profiteering are
two of the causes of the high cost of
living that have been selected by gov
ernment authorities as mainly respon
sible for the present price level, ac
cording to the Business Outlook of the
Wclls-Fargo Nevada National Bank of
Sail Francisco. Other influences there
are as a matter of course, but it would
be difficult to assign to each its pro
portionate share in bringing' about the
conditions regarding which complaint
Is made.
There is merit Ij attacking underpro
duction and profiteering inasmuch as
something may be accomplished in
these directions by human intelligence
in contrast with inflation, destruction
of capital through war and other causes
winch have also shared in raising prices
but for which there seems to be no
remedy at hand, nothing to be done
except speeding up productive enter
prise, by stimulating capital to a full
employment and labor to efficient work,
bv increased development of transporta
tion utilities and relieving these from
hampering restrictions, and indirectly
by discouraging extravagant or undue
consumption.
MI ST IACHEASE PRODCCTIOX
A most pressing need of this recon
struction period is to increase produc
tion in every way possible. The situa
tion calls also for the Introduction of
both public and private economies on a
large scale and a definite effort to cur
tail consumption where this cftn be done
without detriment to general business.
In such a situation there is always
danger of adopting extreme measures for
th rise in living expenses comes home
to everyone and where the movement is
prolonged the influence is bound to be
disturbing.
It Is significant, however, that not
withstanding the bUrden of higher living
expenses the country has today an im-
ING
RED
CAUSES
merse volume of retail trade. The great! "on OI president wnson. t-ven ir iresi
totals although partly attributable to oVnt Wilson were inclined personally to
high prices show also that the country's ' give his aid to the striking steel men
buying power is enormous, the effect I the fact that the senate is investigating
largely of the extraordinary diffusion ; the situation would make him hesitate,
of wealth indicated by the record num- j OAKY TO SAVE FACE
bet of individual producers' who will The outlook, therefore. Is for some-.
share in the present harvest. thing like .an armistice in the big fight.
This greater Interest shown in soil : Judge Gary cannot recede from his po
nroduction is natural in view of the , sition of refusing to consult with out-
fact that average prices paid for the
principal crops at the opening of last
mcnth show an increase of 17 per cent
over a year ago and more than 90 per
ctnt compared with the 10-year average
for that date. To produce as much as
possible and to consume as little, saving
and investing the capital rescued by
such economies, would, therefore, appear
to be the effective means of restoring the
lost equilibrium between production and
consumption.
CAMPAIGN IS OX
The federal government and various
slate authorities have formulated a cam
paign to proceed against profiteering.
The department of justice has sought
to end ruinous speculation in foodstuffs
ar.c nearly every town and village has
set to work one or more committees
investigating the question. This crusade
was in progress abroad long before It
gained headway here. Herbert C.
Hoover, chairman of the inter-allied re
lief organization, on the eve of his de
parture for this country, sized up at
Fsris the situation in these words:
"The law of supply and demand is not
working normally and probably will not
fot another year. While prospective food
supplies for the next 12 months are
about equal to the apparent need, un
stable political situations, a recurring
shortage of shipping, a shortage of
credit, and a combination of either buy
ers or sellers will tend to create great
speculative waves and may inflate prices
to a point unendurable to the consumer,
or in the reverse situation unendurable
to the farmer."
Two Men Drown in
Effort to Save Girl;
Third Man -Succeeds
Sacramento, Cat., Sept 24. (TJ. P.)
After two men had drowned in their
efforts to save Miss Edna Longton from
the swift current of the Sacramento
river. Georpe Spillman finally rescued
the girl after a bitter struggle.
Fred W. Strader, 26, and Henry
Swetinich, 19, were drowned. All were
employes of the California National
hank and .were picnicking.
Track Break Fixed;
Through Service on
S. P. Now Resumed
Through service on the Southern Pa
cific railroad between Portland and San
Francisco, which has been interrupted
for two days because of a train wreck
that destroyed a portion of tunnel No. Z
in the Sacramento canyon north of Red
ding, will likely be restored this evening,
reports being received this morning in
dicating that the tunnel had been re
paired and that the tracks were now
open. All trains coming from California
points Tuesday were stub sections, some
being greatly delayed in the transfer of
passengers at the scene of the mishap.
Railroads to Be Represented
Washington. Sept. 24. (I. N. S.) To
provide the big railrond unions with
representation at the White House in
dustrial conference on October 6, Presi
dent Wilson, through Walker D. Hlnes,
director general of railroads, has sug
gested that four delegates from the
railroad brotherhoods be added to the
15 representatives of labor named by
Samuel Gompers.
3. Jefferson, northbound, at 4 a. m.
Portland, EngUnd, Sept. 21. (I. N. 8.)
Arrived. M. 8. Snetind. from Port BUkeley via
Seattle and Panama. .
New A'ork. Sept. 23. (I. N. 8.) Arrived.
S. S. Ardenav. from Tacoma via Seattle.
Shanghai. Sept. 20. L N.-8.) Arrived,
8. Santa Inez, from Tacoma via Saa Francisco.
8. S Seattle Maru, from Tacoma via Seattle.
Payta, Sept. 22. t N. S.) Arrived. 8.
Honolulu. Sept. 58. (I. N. S.) Sailed,
S. S. Niagara for Tancouver.
Victoria, Sept 23. tl. N. S.I Arrived, 8.
8. Atlas, from Juneau, midnight Sept 24,
passed out Kaiwarra, from Vancouver, for
Sydney, at 2 a. m.
James Island. B. C, Sept 23. (I. N .8.)
Arrived, S. 8. Rainier, from San Francisco, via
Victoria.
Port Townsend. Sept Z3. (t N. S.)
Passed in. a tug towing scow loaded with ma
chinery, 11 a. m.
Port Ludlow. Sept 24. L N. S.) Ar
rived, S. 8. P. 8, Loop, from Port Gamble.
Puget Sound Navy Yard, Sept 23. (L N,
S.) ArriTed, "V. 8. collier Jupiter, from San
Fraaciseo.
NEWS OF THE!
HIGH
MARKS ARE
F
FLIGHTYMA1ETS
Decision of Senate to Investi
gate Steel Strike Heartens
The Buyers on the Exchange.
GARY WILL NOT STEP DOWN
Strike Is Unique in That It Is
Demand on the Part of Labor
To Dictate Companies' Policy.
By Broadan Wall
New York, Sept. 24. Stocks were
irregular In Wall street Tuesday but
so many of them displayed excep
tional strength as to give a genefally
optimistic view to the situation.
Chief among the leaders were the
tobaccos, but there was also much
vitality displayed by the metals,
petroleum issues and such specula
tive stocks as crucible and Baldwin.
Profit taking on a later scale made
its appearance in the afternoon and
cut down prices in a few issues but
the gains were in most cases almost
entirely recovered. Cotton was strong
again, as was foreign exchange, par
ticularly German marks, which ad
vanced somewhat.
Decision of the United States senate
to Investigate the steel strike put an
entirely new face on the situation in
the labor world. The strikers are practi
cally admitting that they have no hope
of winning unless the railroad men re
fuse to handle the output of loyal steel
mills. The railroad men cannot succeed
in sucha. program without the coopera
Pr
siders regarding- the Internal affairs of
th. Steel corporation, although he al
ways has been, and now is, willing to
to.lk with the real employes of the com
pany. He will be compelled, however,
to appear before a senate committee,
and that would save the faces of every
body concerned.
Public sentiment is clearly against
the strikers, not only in the financial
district but elsewhere. This is so be
cause they are not striking for money
or lor materially Detier conditions.
They are striking for a right to dictate
tho policy of the company. This strike
is very unusual for that reason. It is
tho first big one ever called for that
purpose. The great war in Kurope has
disorganized all industry and it is to
be reorganized on an entirely new basis.
Mere good treatment of employes will
no longer suffice. Labor takes the
stand that, as it was a partner in the
war to save the world, so must it be
partner In all enterprises in the future.
The fact that prohibition has sobered
the entire mass of working people makes
tho situation much more acute.
Silver metal went to the highest rec
ord since the war.
The persistent selling of United
States Rubber has been traced to in
siders. What the reason is cannot be
stated.
Railroad shares were more active with
some of the low priced ones making
good showings.
United Retail Stores again exceeded
United States Steel in point of activity.
It and American Tobacco established
new high records.
Stock MaeKet
v Topics
Furnished by Overbeck & Cooke com
pany. Financial News says : On declines we
expect to see good buying in oil, sugar
and food stocks. Pending developments
in Texas Oil company are being referred
to as likely to make for a great deal of
speculative interest in the stock. In
vesting indicates that until there is more
favorable labor news than has yet come
to hand professionals will be found sell
ing stocks on rallies. American Can be
ing recommended as a speculative pur
chase on recessions by sources which are
in touch with the western clique inter
ested in this issue. The activity in
Royal Dutch is reviving discussion of
closer relations with the Doheny inter
ests. Chile Copper reported to be under ac
cumulation. It is one of the few com
panies reporting an increase of produc
tion. It is estimated that earnings are
near $4 a share.
New York News The only change in
i market opinion after the close yesteraay
was that it was more pronounced in its
bullish character. Sinclair oil following
completion of the merger is said to be
booked for a sharp advance and predic
tions made that it will cross 70. Some
interests confident that before many
days Steel common will cross 110 and
other steel shares will advance in pro
portion. American Ice directors declared usual
quarterly dividend of 1 per cent on
preferred and an additional dividend of
1 per cent, bringing the payments to 6
per cent for the year. 'Rumored Pan
American stockholders meeting will be
part of a scheme to absorb Mexican Pe
troleum on basis of one share of the
latter for two of Pan American.
Standard Oil resumes trade with Ger
many. An oversold condition existed in Sep
tember com, belated shorts "were the
buyers and cash houses who took the
sample lots yesterday and who have
bought them for a week past did the
selling. Professionals who fought the
advance early covered and made the last
bulge In deferred deliveries. Considera
ble profit taking was on at last. The
feeling at last was nervous, and while
many predict higher values, those who
have sold out and traders who are bear
ish said there had been advance enough.
A feature in the oat trading was the
large operations by a local professional
who bought at one time, sold out at
small loss and recouped by buying his
line back. All the trading was through
brokers. A factor in the oat situation,
as a local operator sees it, was the de
crease In tbe vtsslble supply last week.
Export bids on rye were reported as
out of line at the seaboard, but there
MADE IN SPITE 0
FINANCE, INDUSTRY AND
Interesting Topics.
To Be Discussed at
Meeting of Bankers
New York, Sept. 14. The bankers of
the country, in the saving! bank section
of the American Bankers' association,
representing more man J 0.000,000 de
positors of savings In more than 5000
American banks, for their eighteenth
annual convention to be held in St.
Louis. September 29. 30 and October 1.
announce a program with such topics as
"savings," "Liquid Investments," "Leg
islation," both state and federal ; "Mort
gage Loans," for insurance companies as
well as banks ; "Municipal Credit,"
"Americanization," "Thrift," Taxation,"
"Tax Exemptions," "Amortization of
Mortgage Loans." as a measure for im
proving the status of both borrowers
and lenders during the readjustment
period, and "The Railroad Problem."
PLANNING 10 ATTEND
iL
Large Representation Assured
at Session Scheduled at New
Orleans for October 7-9.
Portland is to be well represented at
the seventeenth annual convention of
the American Institute of Banking to
be held at New Orleans October 7-9.
Those members of the banking frater
nity who have announced their inten
tion of going to New Orleans are:
Thomas H. West, assistant cashier of
Ladd & Tilton bank, who is a member of
the executive council of the institute;
A. Xj. Fraley of Northwestern National
bank, who is president of the local
chapter; Thomas Dunn of Vnited States
National, treasurer f Portland chapter,
and Andrew Matthew, who will partici
pate in the program as chairman of the
president's conference meeting.
President Fraley and Secretary West
will leave tonight for Ogden, where they
will join the San Francisco delegates to
attend the annual convention of the
American fiankers' association at St.
Louis, September 29 to October 2. They
will then proceed to Chicago and join
the special train party for New Orleans.
Among the various topics for consid
eration at the institute, which is com
posed of over 20,000 bank officers and
employes, throughout the United States,
will be the subject of "The Help Prob
lem During Reconstruction Period."
"Banking is fast becoming a profes
sion." says Secretary Wesl. "and is re
quiring the best brains of the country
to keep our finances In good shape
during the reconstruction period. Bank
deposits have more than doubled in the
last four years, .and the credit of the
i country is greater than at any former
period.
Bonds May Be Issued
To Finance Roads
A special election for the Issuance of
serial bonds of Union county to the
amount of $1, 498, 000 for road purposes
will be held at LaGrande October 11.
The first serial will not fall due until
flv vpars hiivp r.lnnuaH und tlia lot.f t
would fall due in 1940, ranging from
$60,000 to 1113,000. The bonds are to
bear interest at a rate not to exceed
5 Per cent per annum.
was a fair class of buying of futures
here by cash houses and the close was
higher.
Offerings of barley were light, receipts
being 21 cars and with a fair demand
from malters and industries.
, Advance in steel is result of reports
said to come from government sources
that senate hearing to get under way
tomorrow means a compromise will be
effected through government interven
tion. Germany to ask Argentine for credit
of $100,000,000 gold.
Language Causes Arrest
Vancouver, Wash., Sept. 24. L. V.
Carson and C. Griff were arrested Tues
day night on a warrant charging use of
indecent language In a rooming house.
PORTLAND
BANKERS
ANNUf1
CONVENTION
Oregon Municipal Bonds
Maturity. Price to Yield.
City of Klamath Falh 6 1920-29 5 to 5.125
(Debt of entire city.)
Deschutes Valley Water Dist. 6s. 1924-34 5
(District includes 19,800 acres embracing towns of Culver and
Metolius. Jefferson County.)
Squaw Creek Irrigation Dist. 6s
(District includes 12,000 acres.)
Gold Hill Irrigation District 6s .
(District includes 5,000 acres.)
All pf these bonds are" general obligation, income-tax-exempt
municipals.
Detailed circulars are available
Lumbermens Trust Company
BONDS, TRUSTS, ACCEPTANCES
Lumbermens Bldg. " Fifth and Stark
Six Hundred Thousand in Capital and Surplus
ROBERTSON & EWING
LIBERTY BONDS
New Tork Qaotattoaa,
Interest Included.
SHs....
First 4a....
Meeoad 4a....
First 4Ys....
Second 4V....
Third 414
Foarth iVis....
Victory 4
...$ll.08
... .!
... &.73
. . . t.i:
... t5J
. . . t.47
. . . tS.44
...
ITe Buy and Sen Aiy
Anoaat
GOLD SHIPMENTS GO
ABROAD; WAR PAPER
LIQUIDATIONS GROW
Increased Discounts Reported;
Reserve Deposits Advance
$45,000,000.
Liquidation of $110,700,000 of war pa
per and a further gain of $51,100,000 in
gold in transit or in custody in foreign
countries are indicated in the Federal
Reserve board's weekly bank statement
issued as at close of business on Sep
tember 12, 1919.
As against the large reduction in the
holdings of war paper the banks re
port increases of $18,000,000 in other dis
counts and of $7,300,000 in acceptances.
War paper holdings of the Cleveland.
Chicago, St. Louis and Minneapolis
banks include $45,400,000 of paper dis
counted for other Federal Reserve banks,
while acceptance holdings of the Kansas
City and San Francisco banks are in
clusive of $45,600,000 (as against $51.
200,000 the week before) purchased from
other Federal Reserve banks. Tempo
rary advances to the government by
the New York and Chicago banks pend
ing the receipt of funds from deposi
tary institutions account mainly for a
net increase of $91,400,000 in the hold
ings of Treasury certificates.
Government deposits show a decline
of $25,500,000, while reserve deposits
went up $45,200,000, and other deposits
including foreign government credits,
$35,000,000. On the other hand the
" float" carried by the Federal Reserve
banks and the gold held in custody
abroad both of which items are treated
as deductions from gross deposits how
increases of $10,100,000 and $51,100,000.
The result is a decrease of $5,900,000
in net deposits. Federal Reserve note
circulation increased $9,500,000, notwith
standing a substantial reduction in Fed
eral Reserve note circulation reported
by the New York bank.
Considerable Investment by member
banks in the recent issue of Treasury
loan certificates and a corresponding In
crease in government deposits, is in
dicated by the Federal Reserve "board's
statement of condition on September 5
of 774 member banks in leading cities.
Holdings of IT. S. bonds and Victory
notes show but slight changes, while
certificates of indebtedness on hand
went up $178,P00,OO0. of which $71,900.
000 represent the increase for the New
York City member bank. War paper
on hand shows a reduction of $7,800.
000. Loans secured by Btocks and bonds
increased $39,800,000, in spite of a $3,400.
000 decline in this item shown for the
New York City banks. Other loans and
investments show an fncrease of $56.
600,000, largely in New York.
S. & H. Green Stamps for cash. Hol
man Fuel Co., Main 353. A-3353. Block
wood, short slabwood. Rock. Springs
and Utah coal, sawdust. Adv.
Earn Q
with amah sum
Perhaps, out of your income,
you can easily save $10, 25 or
150 a month.
If so, you can use the Par
tial Payment Plan advantageously.
You caiv buy bonds when
you want to, instead of waiting
until your funds have accumu
lated. Ask us about our
Partial Payment Plan .
for buying Municipal Bonds
in denominations of
$100 $250 $500 $1,000
FREEMAN
SMITH
Camp
Co.
1931-38
5.75
1924-39
6
FEDERAL TAX EXEMPT
6
BONDS
Local Securities
207-8 Northwestern Bank
Building
PORTLAND. OR.
aaeoMat rum
ttasmrarasTBai Kaisb Blbs.
mm Mt
ENTERPRISE
National Banks Are
Increasing, Figures
At Washington Show
Washington, Sept- 24. Official figure
for the eight months ending August
31, 1919. show that applications for
charters for new national banks are
constantly increasing. For that period,
801 such applicauons were received,
representing capital of $24,572,000, in
cluding 61 such applications for the
month of August.' In August last year
but 15 applications were received. For
the eight months ending August 31, 1918
Jhe applications for new charters num
bered "Z, 'with capital of $10,165,000.
The aggregate capital of the na
tional banks for which charters were
granted during the eight months end
ing August 31. 1919, was $15,475,000;
and in the same period approvals were
given for an Increase in the capital of
235 national banks in the sum of $31,
988,000. Urges Installation
Of Electric Alarms
For Country Banks
Minneapolis, Sept- 24. The recent sug
gestion made by the Minnesota Bankers'
association that citizens in small towns
of the state be provided with sawed-off
shotguns as a means of preventing bark
robberies is not meeting with favor
everywhere because the banks, under
the employers' liability act. have to as-
LIBERTY BOND SALES
Liberty bond' closed in tbe New York market
3tt l-t4s 2d4 l.st 4
Thursday 00 98 fln.OG 93 44 95.10 93.48 05.58 93.54 till 112
Friday 100 00 D.Y10 113.78 US UI 03.78 0.1. H4 03 90 00 02
j Saturday 100.00 05 00 03 80 05.12 04.24 05.70 03.84 00 00
I Monday 100.04 05.00 03.00 05. 1 04 20 05 84 03.00 00. 04
Tuesday 100 08 95.10 93 98 05.20 94 20 Ofl.04 S.0 99 08
Wednesday ...100.06 95 20 84.20 05.30 94.34 98.50 94.54 BOO
ml)
Keep
Financial
It is very much to your interest as a busi
ness man or woman to keep in touch with
investments that will give you a good return
for your money.
Since this requires a wide understanding of
business conditions, and access to informa
tion not always available to an individual,
why not delegate the task to the Bond De
partment of this bank?
We will be glad to give you a list of sea
soned bonds, of worth-while securities, and
to get for you information upon any securi
ties offered in the market.
LADD & TILTON BANK
lTOKTUNp.1
USA.
lUNlCIPAL
ESTABLISH ID 112
Rexburg Idaho Improvement
6's at Par
Government and Municipal Bonds Bought and Sold
fcfcPevepeaux 5y Company
87 Sixth Street
Ground Floor Wclls-Fargo Building
HALL & COMPANY
Buy and Sell U. S. Government, Fore-ifn Government, :
Railroad, Public Utility, Industrial, Municipal "
BONDS
Quotations Upon Request ; Jo , -
Lewis BWf Portland, Or. TaUphona Marshall 6S) -
" tailed by
Joe II. Cords n
sume risk of bystander vein Injured.
according to Oeorge H. Richards, secre
tary of the association.
In addition to the shotgun protection,
therefore, Mr. Richards is urging tha
banks to install electric alarm devices
whic will ring bells in business houses
in the vicinity of the bank In time of
danger. The large number of country
bank robberies has prompted this csm-'
pain by the state association.
Woman Is Fined for
Keeping Intoxicants
For illegal possession of I" pints of
high grad moonshine, Mrs. M. Hem
lock, 390 Vancouver avenue, Tuesday
afternoon was fined $100 in police court.
Officers Corder and Hchulplua of the
moral squad, acting on information that
Mrs. Hemlock kept liquor -In her home,
made a raid Monday plight and found
the Intoxicants.
PACIFIC COAST HANK STATE M ESt
Portland Binfti
Thin 'eek Ter A"'i
. 7.1M2.04H.IS $ ,3n.72.00
r, 7K ill - " a.xnu.l I T.M
5.9il.4M1 nc, 6.0S1.447.1J
rieariiBs -
Monday . .
TuemUy
Wednesday .
Spokane Benfel
Clrarinis Wednesday $ 2.1 01 .1 0.O
Balances Wednesday 771.208.00
Tacoma Banks
riearlnts Wednesday $ 7n7,flfl.V40
Balances Wednesday 1H4.117.05
Seattle bsnk clearmas W nlnvlv. ST.4&7,
860.00; balances Wednesday. I W2.605.0O.
an Francisco Bank Clearings.
Clearinss, Wednesday I'.'H.S 17.354 00
Lot Angeles Bank Clearings.
Clearing. Wednesday M 57.734,00
at following prleee:
4 2d4"4i 3d 4 4
Victory-
8i 4
99 92
tto.oa
09 92
00. 0J
99.02
90 02
Posted on
Conditions
WORLD
Pioneer of the Northwest
Washington and Third
BONDS
GOVERNMENT-MUNICIPAL
CORPORATION
G. E. MILLER
& COMPANY
INVESTMENT SECURITIES
205-6 NORTHWESTERN
BUILDING
PHONS MAIN 419S
BANK
Broadway 1042
- 4