The Oregon daily journal. (Portland, Or.) 1902-1972, March 21, 1920, Image 36

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The Oregon daily journal., March 21, 1920, Page 36, Image 36

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Newspaper Page Text.4 14 THE 'OREGON. SUNDAY JOURNAL,, PORTLAND, SUNDAY MORNING, ? MARCH 21, 1820. BIG WEEK AHEAD 0 Ten Million Feet of Lumber and Thousands of Tons of General . Merchandise to Be Exported. ,- Th next seven days will be the ; biggest week tot the exportation of ! Oregon product from Portland in mmjty months, f rem all indications. ' CIoe to 10,000,000 feet of lum . ber and over 10,000 tone of general - mm appIi Aim a rt TnctJtd to t loaded on outgoing vessels, although :-. all. of the cteamera now being made . ready for cargo will not sail within ' this period. "" The stsamer Waban Of the Pacific Steamship company's Portland-Oriental line Is slated to sail March 26 for the - Far Bast with lumber and general prod uct aggregating close to 10,000 tons in aUv, BIO SOCK SHIPMENT On of the War items in the Waban's cargo will be, not from Oregon but from ,thr Northwest, 600 tons of phosphate rock, consigned to Japan for use as fertilizer, and the first shipment of many thousands, of tons to follow through Portland. The steamer Ashland County is now ' loading 1,800,000 feet of lumber at the milt of InmatvPoulsen A Co.; for Ajita- f casta, Chile. The vessel arrived last week and will complete its cargo before Friday. The vessel is under the man- - element of the Columbia-Pacific Ship plmr company. The European-Pacific line will be rep resented in the port with two steamers ' titie week, the first of which, the Can- - fcumset is expected Monday. The ves sel will discharge some return cargo from Europe, the first to come since the war and aftewards will load 1.500,000 1 1 ect of lumber for Havana, Cuba, and general cargo for Europe. This vessel will be followed by- the Steamer Eelbeck, which is to load a full cargo of flour and wheat for the Medi terranean. LUMBER FOB 8HA5GHAI The Columbia-Pacific Shipping com- fimvalM i-weivaue word Raturdav that 11)6 snipping poara steamer Angeieg is to sail today from San Pedro, where she 'wasj built. The vessel Is expected In : time) to begin by Friday loading a full cargo of lumber for Takubar and Shang--: kaL Inaugurating the new tervice of the Columbia-Pacific from Portland to i North China ports. t" The steamer Boynton is to be checked In for the same company this week and ' will probably be assigned as a flour . carrier for the food administration. - ' The food administration is said to bavs flour available for export move ment at a rate of 100,000 tons a month , at. bmaa a fnna mnn t n nH ? efforts are being made to secure ton nage. This necessity may force the - pressing of the Boynton Into the cereal service, although the governments pol icy to date has been firmly against the movement of grain or grain products in wooden bottoms. ' 14 STEKIj STEAMERS OF "Bm " v TYPE READY FOR PURCHASE FOR SHIPPING oraiiPRiucis mi' t ' - Shipbuilders and vessel operators nere re being informed of the shipping board's plan to dispose of 18 "B" type steel stsamers. of the 8000-ton class, de- ' signed as freight and troopships, the Irst of which have been turned out at the Hog Island yard, where material for the others, with full equipment, is - now available for purchase. The Emergency Fleet corporation has -hit -on a sale program that provides for'selllng the ships In "knocked down" form, o they may be assembled in ', any part of the world. All of the steel baa. been fabricated and complete bills of equipment and machinery for the 18 : carriers is on the ground, so that it can be transported readily. It was first calculated there would be 85 . of the ships that could be sold to private operators and builders, but the - army authorities obtained 12 of them, while seven others were successfully sought for by the navy, leaving 16 that " may : be negotiated for commercial pur- i poses. . The ships are of the same general de sign as are operated by some well-known British lines, such as the Commonwealth aV Dominion, Dlbby. Brocklebank, the TBAHSPOBTATIOlf iMRALLINB . , a. . "OITV OF TOPlK" alii from PortlsBd 9 p. . March 28, for Manhfleld, Enreka and San rnneiaea. eon imtias with taain to Los Angelas and Saa IMex 4 ; PROM ItATTLI TO ALASKA at. "CiTT Or SEATTLE" to &kagwT sd war porta. March 28. S. a. "SPOKAKE" to Sitka and war porta, 2 Mtrch 2BtK . f.8, "ADMIRAL WATSON" to KodUk and -4 jry porta March Slat. TtOKT OPPIOK 101 THIRD ST. frehjhl Office .. Wunlolpet Dock No, I X K Miami bSaIm aa raoirioTiraiisMip oompsnv San Francisco S. S. ROSE CITY l l SIHRTI 1S SOON Thursday, March 25 - ;" Pstoai atwawowTM door rarts; iMOLWoaa oaaTN and mials cm TioKiT omoi. sb and waih. pmoni main aaaa -miMirr offics. ainswonth door - . PNONI ROADWAY t(S 1- ! RAN rRANOISOO 4k PORTLAND LIMBS AUSTRALIA -.RKW t B ALAND AND SOUTH SIA wis TaftRI ana WfUnss. StaH an Fasts aanlee frem a Pranelm (very tl Dan, union aa. oo. or stw zsaland. - e Oaitfw ma Dk, San franim. Ueal suemshis an RsllrMS Assntlea OOIHO TO ECSOPK THIS BUMMEBI Hit seeare year reserrtltoa. ;. yi-:--:. KOW. Oar Verseaallr Coadseted Exearstoa S. S. NEW ' YORK FROM SEW-TORI, If AT tS vc , Traia reave Portlaad May W, LIXTJELL CLABKE, Hi JWM U Vat J&i ITTCAM.CHTO im m IWJr ssTs, M AMTMsaVAUl BIG LUMBER CARRIER I S LAUNCHED A ' " B SI A If - I! 4tX ill 0 1 1 j-! ! - l ' " 1 vl m.lA .' 1 "m il Tbe steam schooner Everett, lannc hed for tlx; Charles ft. McCorailck company yard at St. Helens last Monday, will be tbe -largest vessel of Its kind on the coast when co mpleted. The vessel was towed to the Willamette Iron & Steel Works Saturday for fitting. Miss Cor inne Hill (below) was sponsor. British India line and others, and the French government has adopted the same design for the Indo-China mail, Madagascar and other services. Plans reaching the local office of the supply and sales division show the ships to have a length over all of 448 feet, beam, moulded, of 58 feet and depth, to shelterdeck, of 40 feet, with a designed draft of 28 feet. To give the vessels a speed of 15 knots turbine engines of 3140 horsepower were designed. The vessels have seven cargo holds. Cargo handling gear consists of eight king posts, each fitted with a five-ton derrick. Men who have looked over the plans regard them as desirable for Pacific trade purposes. NEW FACES TO BE SEEN IN ST. JOHNS SUBSTATION When "time" is called Monday morn ing at the former Grant Smith-Porter shipyard, at St. Johns, now officially designated as the St. Johns concentration warehouse of the supply and sales divi sion Kmergency Fleet corporation, there will be 83 new faces behind the desks, attaches of the Oregon suboffice, whose base of operations was shifted Saturday from the Northwestern Bank building. The Western district headquarters, from which he directed affairs of the entire section between the Pacific coast and Denver, remain in the bank building. The change simply places the Oregon suboffice in the same posXion as the California and Washington suboffices, they being held responsible for materials and equipment checked In from various shipyards where the government war program has ended, and. as well, for their disposition later. The West coast district will continue to function as before, the various heads supervising the general organiaation. which necessitates them traveling much of the time be tween the suboffices. Data respecting surplus material for saJe will continue to be given out at the Northwestern National Bank build in:, particularly as to wood hulls on Lake Union, in North Portland harbor and at Alameda. C. O. Yoakum, man ager of the Western district ; . J. IL Wood, assistant manager ; Jay S. Ham ilton, In charge of sales; O. L Lefferts, in charge of office details ; A. B. Was- teir, executive assistant. Charles -F. Rhode of the Inventory and certification section, and C. W. Witherspoon, of the appraisal section, will retain their offices in the Northwestern building. G. M. McBride will direct sales at St. Johns and A. J. Bogan will be head of the material section there. STANDIFER COMPANY SIGNS FOR INCREASE IN WAGES The agreement of the Portland Metal Trades council with G. M. Standlfer Shipbuilding corporation was renewed last week, according to the announce ment of H. A. Stuart, secretary of the council, made Saturday. The new agree ment lasts until April 1, 1921. It provides for an 8 cents an hour increase in wages over the Macey scale. ana the 44 hour week, besides certain other minor ccndltlons. This is the San i-Tancisco wa?e scale, agreed upon last August, the failure of the Emergency fleet corporation to cnmniv .iik n . . . A.. " . r., TV Mtl i, Ajts: cipltatlng the general shipyards strike -uiK me coast October 1. K. V. Jones, vlca nrexld Ant Onil ffan eral manager of the Standlfer corpora tion, aigned for the company at a con ference with labo.- officials Friday NAVAIi COMPASS STATIONS TO ASSIST IN NAVIGATION San Francisco. MarK on n . Naval compass stations enabling" mer chant ships aafeiy to enter the harbor mi omi P rancisco -in the densest fog soon will be in operation at -li ferent points outside the Golden Gate, it was announced yesterday at the head H"Ta?t the Tweitth naval district. r.7 . yem a vessel would re ceive her position by wireless from the S?! station, at definite interval. J-v-.v reports u win t possible DREDGE CliEARS - CHAXYEIil1 FILLS IN PACIFIC HIGHWAY ofKporTitdW!;hi March 20 The Port or fortland dreda-a wi- w f.Kth?'b'V"-h,pha rt c.rniw fey d. ......... v, ,n, urecon.slde. rn, ihe . : ., ' ' .J. . .. ; ?!f - - - - yvyv.7yM-- "tr - urn Washington side of the river. A year a?o the new channel was dredged ilOO feet wide to a depth of 25 feet. It is now being cut to a depth of 30 feet and 600 feet wide. The silt is being deposited upon the low gTound in Kalama, to an average depth of about 12 feet. The Pacific highway through the north end of Ka lama has been filled to grade, a depth of 14 feet, and 80 feet wide, for a dis tance of a quarter of a mile. The silt is pouring into town at the rate of 800 cubic yards an hour. News of the Port MARINE AIM AS' AC Arrivals. Maroh 20 A Talon. American steamer, from San Fran Cisco, ballast W. P. Herrin, American steamer, from Mnntr7, oil. SilTersdo, American steamer, from San Fran cbco, ballast Deeertiipea March 20 Klamath, American steamer, from St. Helens, for Saa Pedro, lumber and passengen. Johan Poulen. American steamer, for San Francisco, lumber. DAILY RITER READINGS a. m.. Pacific Time. -1 'S I! fi JJJ 25 2.0 6.7 10 4.0 o 20 5.1 0.8 20 4.2 0.6 12 5.6 0.5 15 5.2 O STATIONS. If 0.00 O.00 0.01 0.00 0.00 Umatilla . . . Eugene Albany Salem Oregon City Portland . . . . ( ) Falling. RIVER -FORECASTS The Willamette rlw at Portland will remain "early stationary during the next two or three days except as affected by the tide. WEATHER .Portland and ricinity: Sunday, rain; south erly winds. Oregon and WMhington: Sunday, rain: moderate to fresh southerly (alas along the coast. storm warning fiout h west storm warning! exianaea to ail stations except Astoria at 6 p. m. storm off VaneotiTer inland snoring miuwwL moderate to rreh nonOi, shifting to southwest, gales tonight and Bandar. OB8F.BVATIOKS STATIONS a 8 i a Baker Boisa . . . . . Boston . . . Calgary . . . Des Moines Chicago . . . renter . . . Eureka . . . Galveston, Helena . . . t Juneau Kansas City Los Angeles Marihfield . Medford . . Minneapolis New Orleans New Tork . North Head I 56 0 I 841. S V7- SB I Cloudy I . . SE Pt. Cldy. 10 SW Cloody NW Clear N Clear .. NE Hear . . NW Clear SE Cloudy 8 Clear 8 Clear NE Cloudy 12 N Clear . . SW Cloudy 8 Raining 24 SE Cloudy . . W Clear -. W Cloudy 24 NW .Cloudy 84 8 Raining : . . SW Cloudy . W Clear 10 8 Pt. Cldy. N Cloudy 5 Raining 12 8 Cteady 18 NW CTear . . NW Clear . . W pt, cidy. 22 SW .Raining .' Sw" Cloudy . . ALMPt. CMy. 6 1 Cloudy .. ''- N Clondj 12 8 Raining JfK Clnr SB Cloudy 14 NW Cloudy 18 BE Clear 6 O 42 0 44 0 S2 0 eoi.s8 ssi o B8 401 8S 7 50! 58 2 eoi 0 0 0 0 08 0 o - o 40 SS 6.04 North Yakimai 08 O rnoemx . . . , Pocatello ... Portland . . . Roseburg . . Sacramento . St. Louta ... Salt Lake . . San Tiego . San Francisco Seattle .... Sitka Spokane ... Tacoma .... Tatoosh bland tValdea Walls Walls. Washington . Winnipeg . . 88 114 81 80 0 0 T .02 0 . w O o .01 .01 .. o esf B4 58 64 4 62 44 64 o eo.04 52 28 42 .14 o .02 0 70 42 18 ta. today, -p. m. report of preceding day. LOCAL DATA Portland. March 20 Highert temperature i aegra: lowest temperature, as dee-res. wjer reading 8 . m 6.2 ft; change in aours, v ten. 1 Jstal rainfaD S p, a to t p.. as.), tra J"? ratraau sues Septasaber 1, 1S1B. 24.48 '"'; . normal rainfall since September 1, Inches; deficiency of rainfall atnee Sep- a, sw.ai jnenea. ouium. a. m.: sunset. :2S d. m. Total saaahlne. S hoars minntei; possible sunsiuna, ii noun p aninutes. Moonrise. :4 - a.- am.; aaeonset. T.Jt p." Barometer traduced sea level) S p. i ZS.S4 inches.. Relative humidity: C a. as,. ' pr wa; noon, i per cent; s p. : S4 per eant. ,,.-. ,-- COLUMBIA RITER BAR REPORT . North - Head, Mareh 20. Oondilion of the iea it p. .. smooth J' wind swath, 'S4 vnil. a yr y j 'J X A , iV'ixl ""I' II SCHOONER EVERETT IMPORTANT ADJUNCT AS LUMBER SEIR Vessel, Launched at St. Helens for McCormack Company, Is Specially Designed With much ceremony, the steam schooner Everett was launched .for the Charles It. McCormick company at the St. Helens Shipbuilding company plant last Monday. Miss Corinne Hill, daugh ter of Carl Christensen, superintendent of the yard, was the sponsor. The hull was towed to Portland Satur day afternoon for fitting at the Willam ette Iron & Steel works and Is expected to be ready for service by May 1. W. R. He wltt, marine superintendent for the McCormlcks, Is expected in Portland to day to oversee the balance of the con struction. The type In many ways is a new one, and the construction has attracted much attention among marine builders up and down the coast. In regard to the Ever ett, the San Francisco Chronicle recently published the following : "The Everett measures 250 feet long. 45 feet in width and has a 20-foot depth of hold. A total of 1.600,000 feet of lum ber may be stowed away in the holds and on deck there will be three large hatches, which ' will make possible the handling of big pieces below decks. "The vessel will have the machinery installed on the Columbia river and the engines will be twin of 700-horsepower each of the shipping board type. They will be triple expansion and all of the housing and machinery will be situates amidships. There will be three Bets of fast winches and cargo gears. The fuel capacity will be for 2000 barrels of oil and the steaming radius will be not less than 20 days. The company intends to use the Everett for coastwise and off shore work, and, as the craft is fitted with the Hewitt steel longitudinal truss, she will be stanch enough to permit the loading of nitrates for the return trips from the west coast Charles R, Mc Cormick said that in his judgment the Everett is about as big as the future lumber steamer will be built The Ever ett has been especially strengthened, so she will be about the stoutest lumber craft of wooden construction on the coast" Returned to Dry-dock The river steamer Astorian of the Northwestern Transportation company was relifted on the drydock Saturday for installation of the tail shaft and propeller which were damaged about two weeks ago In the lower river when the .vessel hit a floating obstruction. The Astorian will be ready to resume the Fortl&nd-Astoria. run by Tuesday, according to the operators. . E. W. Wright Returns E. W. Wright, vice president and manager of the McEachern shipyard at Astoria and one of the owners of the Merchants' Exchange, has Just re turned from Washington, D. C, where he transacted business with the Emer gency Fleet corporation in closing up the affairs of his yrd with the gov ernment Cannery Ship Overhauled The salmon cannery ship St Nich olas, after hibernating with the others of the Alaskan fleet at Astoria all winter, was brought up to the dry dock last week, lifted, cleaned, pamted and otherwise overhauled, and was refloated again Friday. Outfitting will be erlrt In a few days. Five more of the fishing ships are to be drydocked within a few weeks and made ready Tor the summer's voyage to the North. Battered Schooner Arrives Aberdeen. Wash.. March 20. The' schooner Robert Hines arrived from Honolulu after being buffeted off the bar entrance 10 days. She lost part of her rigging and is leaking some. Notice to Mariners he following bulletin was issued Sat urday from th United States navy dy drographic office : Information from the governor pf4the Panama canal, dated February 16, states that all southbound range lights in the Panama canal were lighted on February 16. 1920, characteristics being Identical with those of the northbound ranges. The range effects are 3-4, 7-8, 12-13, 16-17 and 21-22. This office has also been notified that a large number, of heavy logs, up to 50 feet in length and probably 50 In number, were seen adrift about 10 miles off Destruction Island light in latitude 47 degrees 37 seconds north, longitude 124 degrees 44 seconds west AT HEIGHBOKIHfi PORTS Astoria, March 20. Arrived at midnight and left up at 2 a. m.. steamer V. V. Berrin. from Monterey. Arrived st 3 and left np at 4 a. m, steamer Avakm, from Ban Francises. Arrived at 8-4.1 a. m., steamer Silverado, from San Franelfco. San Francisco, March 2r Arrived at 1 p. as.. steamer Oleum, from Portland. Sailed at 1 p. m., steamer Rose City,- for Portland. Arrived at 2 p. m.. steamer Multnomah, from Port land, for San Pedro, San Pedro. March IS. Arrived, steamer Tiverton, from Columbia river. Sailed, steamer Trinidad, for Columbia river. North Head. March 20. 10 s. m. SoathesM storm warnings posted at Marsh field for Northern California and BoutUem Oregon, for tonight and Sunday. - Tides at Astoria Mender High water. 1:82 a. m.. .l feet; 2:82 p. m.. T.S feet- Low water, 8:89 a. m., 0.3 feet; 8:38 p. m.. 1.4 feet. General Insurance BONDS McCwgar;Batcs& lively GENERAL MOTORS LEADING WALL AUTO STOCKS GRIP MONEY INTEREST IN WALL STREET General Motors Takes Lead in ' Activities; Much Demand in Copper Shown; Rails Quiet. By Broadan Wall New York, March 20. Automobile stocks monopolized Wall street's at tention today with General Motors in leadership and Stuts almost equal ly active. Other stocks were quiet but considerable interest was taken in the copper shares because of the plans to finance In America the sales to Europe. Rails were all quiet. The movement in General Motors was popularly supposed to be at the expense of a short interest. This, however, is a mistaken notion, as the shorts were broken out of this stock far below the present level. HE ATT DE3IAD FORESEES- Right or wrong, the Duponts believe that they have in General Mqtors a prop erty of sensational value. They are planning to extend its business to every civilized country in the world. They believe the demand for autos is Just well begun. They have bought and taken out of the market nearly half of the stock of the company and other in terests hold so much that the market supply is limited in spite of its great capitalization. Stutz stock acted as if it were settled that General Motors would absorb that company in the near future. There are rumors also that Vanadium Steel may be Included, although Vanadium may be advancing in sympathy with Stutz, for the two companies have a common own ership. Vanadium has also been selling low for its earnings and for its present dividend basis. The reason for expecting it to be taken over by the General Motors -is that it Is impossible to build an automobile without vanadium and this company con trols 95 per cent of the world's output. GREAT FUTURE PREDICTED Vanadium is looked upon by Wall street as tha greatest unappreciated speculative possibility of the automobile area. Just as Bethlehem Steel was the one best selection for the war period. Although no official statement could be obtained regarding the financing of Europe's purchases of copper in this country, it was said in authoritative quarters that the report Is well founded. Thei-e has been a short interest of im portance In the copper stocks for months. This has begun to cover and can cover at good profits, even after the recent advance. The entire copper group was up and closed strong. Consolidated Gas and Brooklyn Union Gas advanced sharply in expectation of getting authority soon to Increase -the price of their product. As both com panies are paying dividends and there will be no increase in expenses, any In crease of price to the public will be added to net earnings. POLITICAL SLANT FACTOR Tractions have been accumulated by Interests that claim to know what they are doing. There is a political atmo sphere about the buying that Is impres sive. The pool that put Reading up last week is ready to make it active again Monday, if the supreme court decision Is in favor of the company, or-if It or ders a segregation of the property. Any settlement of the case will be bullish. The insiders expect the court to tell the company to retain its present owner ship of railroad, coal and Iron prop erties. The actual bank statement today showed surplus decreased $37,015,420, loans decreased J39.25.000 and net de mand deposits increased $18,294,000. SURPLUS INCREASE SHOWN The average statement showed surplus increase in the $4,680,220 loans increased $188,000 and net demand deposits in creased S1O7.720, COO. The federal reserve bank of New York showed reserves of 38,8 per cent against deposits and federal reserve note liabili ties combined, compared with 38.05 a week ago and 61.8 a year ago. This bank statement marks the turn ing point In the demand for money for tax purposes and it was regarded In Wall street as unexpectedly good. 11 City of Edmonton Gold Bonds DATED OctoW 1, 1919 Tix exempt in Canada. Principal and semi-annual In terest April I and October 1 payable in Unite! States Gold Coin in New York: City or through our office at Portland. These bonds are the direct tax obligation of the City of Edmonton, capital off the great agricultural province of Alberta. 5y2 gold bonds at 86.58 to yield 7l2 Wire order. request. 'collect' Freeman iriTsfe ssastass saa ressrssss About Banking BT MARTIN FITZGEROLD Of Ladd Tilton Bank (Copyrilit.l20) Ttut Is the weond of a nerle of srUeia dis etnsins bsnkinc (ram k popnlsr viewpoint, pre pared by Mr. Pitaccrahi axpceiaUr (or Tha Jour nL This treat ol Ui fftux-tiona of th clear- inc houM and the method of opefung s bsnk aeeounU Here) tn Portland, avs in every larare financial center throughout the country, we have what Is. known as a cearing houae association. This Is an association formed by the larger banks of the city for their own convenience tn exchanging checks and bills drawn on each other In other words, a central headquarters Ia which member banks may send all checks drawn on other member banks, except their own. and receive from the representatives of such other member banks who are gathered there cash or from the clearing house manager an or der for cash In exchange forJl such checks presented. In this way they are spared the time and trouble of presenting checks for pay ment at each of the various banks of the "clty. For example; the Portland Clearing House association is composed of the eight largest banks in the city the 15 smaller banks clearing through some one of these making 21 banks in all, whose checks are dally being depos ited in each of the banks in Portland, Twice each day at 8 :30 and 11 :30 In the morning each of the clearing house banks exchange checks with the others. ONE DAILY CLEARING The first exchange is made by messen ger and comprises all the checks de posited between 11 :30 in the morning and closing time of the previous day these checks having been sorted into bundles and totaled on the adding ma chine after the closing of the bank on the previous evening. The second ex Change, consisting of checks received up to 11 o'clock, is made at the clearing house rooms at 11 :S0 o'clock each morn ing at which time settlement is made for both clearings. It will be noted that while technically there Is but one clear ing each day at 11:30 in the morning In reality, for the greater convenience of the banks themselves, there are two. Each of the large banks has a clear ing house department, through which every check that enters must pass. In this department the signatures and in dorsements on the checks are carefully examined, the bank's bwn checks being distributed among the bookkeepers for posting-i checks drawn'on local banks are prepared for presentation to the clearing house association for settlement ; checks drawn on out-of-town banks are segregated for transmittal to their proper place of payment and all are of course properly listed and totaled so that a balance may be struck at the close of the day's business. OPENING AN ACCOUNT Surprising as it may seem to the out sider, the careful banker exercises a good deal of discrimination in opening up new accounts. Like all truly progres sive business men he is anxious to ex pand his business: but, unlike most, he deals largely in actual cash and there fore must use greater caution in ac cepting new accounts. When a bank accepts your deposit it not only agrees to honor checks drawn within the limit of such deposit, but In a manner it shares with you the prestige of its name and reputation. It is the bank's con cern to see that its confidence is not misused. A deposit whether large or small, to the credit of an unscrupulous depositor, may easily become a source of annoyance .as well aa loss to the banker. He likes to feel assured that his new customer Is trustworthy. He would much prefer that the new client be Introduced . by some one ac quainted in the bank; and where this Is practicable it also would be greatly to the advantage of the client. It frequent ly happens, however, in a growing com munity like ours, that this is not possi ble and the banker must satisfy him self as to the desirabitty of an account by his ability to read character nd by asking questions. And the prospective customer, If he (or she) be an Intelli gent person, will recognize the justice of tiit.-. proceeding, and welcome rather theui resent the inquiries. IMPORTANCE OF SIGNATURE In opening a checking account you will be asked to state your name, occu pation, business or residence address, where you formerly banked, whether or not you have any other account, the names of one "or more persons as refer ences, etc. All questions of an imper sonal kind intended merely to estab lish one's good faith and justify the bank's confidence. For it must be re membered that each new customer is a potential borrower. Tou will next be asked to give your rignature and you should be careful to sign your name exactly aa yon have been in the habit of signing It. The' pay We own and offer $200,000 DUE October 1, 1929 Descriptive circular sent on Smith & Camp Co. NOtTn4WaTSTEfl BANK KJILDtNO Maim aU ing? JSle, to memorise the peculiar ities or every signature, because if he pays on a forced signature the bank must stand tha loss. Hence, the more careful customers are to keep their sig ture uniform, the less liability of a for gery slipping through. - For example: if you open your account under the name of C. J. Jones, it will not do to aend in checks signed Charles J. or C. Jerfery Jones. Nor should a woman who opens an account under the name- of Mary Elizabeth Dee ring: aigrn her checks Mary E. t coring, or, if she is a married woman, Mrs. John H. Deerlng. There must be no variation from the original form of signature left with the bank. That would be asking the bank to take too great a risk, since It would be liable for any loss that might result FOREIGN EXCHANGE RATES Corrected daily by foreign department of the United States National bank. Opening nominal rates for bank transactions: Drafts Cable Par Cheque. Transfers. ' Rates London Pounds aterling . . S.S0U 3.81 t 4.86.R5 Parle Francs 18.72 13.70 8.18.28 Hamburg Berlin Marks ... 1-28 1.80 28 82 Genoa Lira. 18.77 18.75 5.18.0 Copenhagen Kroner . . 17.65 18.00 28.80 Christiania Kroner .. 18.80 18.45 26.85 Stockholm Kroner .. 20.90 21.03 2680 Hongkong Local currency . 84.00 94.80 Yokohama Ten 46.75 46.90 48.34 DKPOSIT8 ON INCREASE. Deposits in the 25 banks and trust companies In the city of Portland increased $28,709,907.51 between the call of March 4. 1919, and the last call, February 28, 1920. according to a summary of the reports compiled by Will IL Bennett, state superin tendent of banks. A total of $149, 029.944.69 was on deposit in the banks of Portland at the time of the last report, this amount being $20,205,974.25 less than the deposits of November 17, last' Additional offering $25,000 Franklin County, Washington Irrigation Municipal Bonds Exempt from all Federal Taxea 11,000 Acres in the District Lien per acre, $33, is preferred to any present or future mortgage. Pasco is located in the center of (lie dis trict; no lands more than five miles from the city. Water supply, Columbia River, inexhaustible. Maturity of Bonds 1930-1939 Price, Par and Interest Robertson & Ewing 207-8 Northwestern Bank BIdg. CITY OF VANCOUVER (Proviso of arltlsb Ooumbla DIRECT OBLIGATION BONDS TO YIELD "Firf Choose Your Bond Hotlie and Then Your Bond" DUE DECEMBER, 1923. DENOMINATION 100 ($486.66) Principal and semi-annual interest payable ia Gold in New Tork. London and ia Canada. PRICE 90.54 and Interest "X.ZZZZ CLARK, KENDALL -Sc CO., Inc. GOTEENMENT, MfNICIPAL AND CORPORATION BONDS riFTH AMD STARK STW ITS PORTLAND, ORKOON Arthur Berridge & Company . Certified Public Accountants and Auditors 619 Woreaaler Block. Mala 8621 CAN YOU ANSWER THESE: Am I fbslnt money In any department? How many cetnts net profit do I make on every dollar of salel Is my overhead flRured accurately in my costs? What does it cost me to do business? How much income tax will 1 have to pay? We specialize on Monthly Audita HERRIN & RHODES, Inc., BROKERS Portland Keattio Taveeaia SIrset PrlTSts Wires to An Ezckasf rt Members of Ctalraro Board ef Trad STOCKS B01TDS Corrasposdsat. r.. F. Hattoa A Co Rove Tork . Clssaaat, Cartla Ce Cartas Jfaydes, Htos k Ch Bwatos -' R. P. EPriKOKK, Maaarer 1 STREET - EflteA by ill F. tleaslan STATE BANK EMPLOYES ENJOY VENISON DINNER FOLLOWED BY DANCING Automobile Club House Is Scene on Wednesday Evening of Elaborate Social Gathering. The State bank employes enjoyed a venison dinner, followed by a dancing party at the Automobile clubhouse Wed nesday evening. About 90 persons were present and during the dinner listened to singing by Mrs. Arthur H. Olson, wife of the State bank's popular clear ing teller, and Miss Lorraine Le, niece of Director W. H. Blair of Canby. Or., and talks by Charles E. Walters on "Cooperation," and S. J. Graham on "Lioyaity to Your Bank." All the bank officers and several of the directors wore preuent : also Mr. and Mrs. H. B. Kvana of the First National bank. Canby; Mr. and Mrs. H. C. Stephens of the Estacada State bank, F.stacada; and Mr. and Mrs. A. L. Lass well of the State bank of Battle Ground, Battle Oround. Wash. Maynard Redmond acted as toast master. The employes' committee hav ing the party in charge were Mtsses Jennie Parellus, Pansy Oswald, Pearl Westberg and Messrs. Maynard Red mond. Waldemar Spllld and A. H. Hern- dobler. Liberty Tlond Hales Furniahed by Overb-ck Open. Mbertr. -3Hs 9878 liberty. 1st 4 9046 Liberty. l!d 4a. .. .8010 Liberty, tt 44..078 Liberty, 2d 4 Vis. . 90 Liberty, 3d 4 Vis. .9256 I Ih-rtr 4th 4 'a. . 70 ictory. 44s 9736 Victory,, 8 s . . . .9762 a Cooke company. High. T.ow in. 97X0 9670 l700 9046 9040 9040 K!i;il KHIO H1MMI UiiTA OOHO B0 7 0 HftHO SO. lU H9.1S 9256 9230 9244 NtlTII kflftlt Villi t 07ftS 9T46 B74S V7A2 9748 9750 DUt. No. 1 Get Your Name on Our Mailing List for "Better Bond" I 1 COTTOJI GBAIX IIIIHIN Railway rsekaate BslUlaa? Telepknnes Mais tat Mala til I P0BTtA3D, 0BE4J0X