.Saturday, January 7, izzx
TIIS - OREGOIJ DAILY JOURNAL rOHTLAIID, OREGON
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BIS
TQAGTIVEYEAR1N
FED
Jut what a bfMMrau year tor Port.
'-In4 Irtdaatrlo or area a fairly normal
PflRTI Aim
' .
-1 claar nderataadla of tha bmorMi
. iMr win fern - - - I.
placer that Um productive industries new
OCWpy. J. . -
I Portland .alone the -iMeeUUd In.'
(rW Mtlnwit . that between .0
m m vm, men are am ployed la prod act.
v Industries at thia umt, with a par-
appvoalmately I..SO0.0O a month,
or ibrct HM.aoa . oar. , Ttila i. fn.
l'lX-n Immadlata Vtcislty only.
"" "ox incjuoe ma outside terrt-
Ury of the state watch haa about th
same number of men. and about the same
PyrolL yj. v
I ourr tow a rith repreeentaUve man
"ad In the principal lines of tnduatry
nara aiecioae that the head of theee
vanoua Una af baalneee look forward
. eaceiiaai yea I durtn lf2J, and a
mil ratara to normal condition.
ICIIU OCTLOOK BKIOMT
' - Pwrhane ef aialor bnmriuiM in u
JJon ta reneral proepertty of tbla diatrict
im uie. 1 am oar inaustry. Lurabar
in 'oaraj expect a vary prosperous
j yaarioa mm miila and kindred Industrie.
'. Taa hand of ana of tba laife lumbar
op-ipaaiee with headquarters In Portland
and. ' oonnactkme throughout tba East
aspects tbla year to be the bit-rest year
that hla company haa ever bad. "Over
. f par cent of our lumbar la shipped
vi mm jaiaaiaeippi nrer, ha ex
viaiiMo,. ana we rind that not only is
buudlna and eonetrm-tlnr. ......
. ally revivtaa;. but the stock la the yarda
, r vary low, and man n fact urln stocks
. are alao low. .This mean that buying-
throaghoat the country will be reflected
directly In mill activities.
' . In addition to tba Increasing" domestic
demand, the export trade la holding- up
' rIU ln ' the principal
Payer. In the year Just peat, and con-
i tlauea to buv kutll in i
;' with Portland getting her full ahare of
tba bualneaa. 80 me exports are ahm be
ing maae to oiina. Australia, England
ana Franc.. Tba export demand la
BToaaentaa.
Many domestic lumber buyers have
bom back as long as possible for lower
pnoee. out pnoaa In thia Una are aald
to hare reached bottom, and a heavy
Duainaes is anticipated with an upward
nmi 01 pncee.
ACHIHEBT LI1TB rKOMISIHG ,
Machinery and equipment for the lum
Per nulla oecuaiea a narallar waiin.
On this line much of the bualneaa of the
rou ana ataei- foundore dependa, and
inaaa plants have not been running
an extent correapondlng to that of the
mllla. An exbkuiatlon nf tla I.
In the fact that many lumber mills faced.
b uwuvii iot uie year izi, and post
ponad every purchase of new equipment
that they could. In caaa nf m. mill -v.-
nlng only halt or a third of the plant,
when any part 'bees ma worn out or was
broken, replacement waa made from
the eequlpment of that nart nf th. mm
that waa Idle. Naturally aa the mllla
rwwna iuii opera none may wm not only
raaulre the reaulmr miIiamuhi
mant, but will ba obliged to buy heavily
to re -equip thai part of their plant that
wwmn Ni
ITBftlTrmJt B00KI568
a maouractura or furniture la rap
t a-enming a piece or graac Import-
n me inaueiriai ilia of Portland.
Five large plants are In operation, with
a number of savUler ones. u. J. Car
man of the Carman Manufacturing com
pany reports orders on the books about
tO per cent la excees of the correspond
ing parted laaC year. Previous to the
flret of the year the Carman plant waa
running five days 'a week, but begin
Mng the first of the year it went' an
full time and Is now running 4o capao
atty. The Poernbochor Furniture 'com
pany ia running to capacity, efnploylna
over 400 roan, and anticipates all the
bualnaaa that It caa handle thia year.
Tba Freeman ruraiture Corapaay, max-
laa btvh.n&jia I kl.a i in
behind with ita orders, with an excellent
demand from aouthern and southeastern
Points, , ,
WOOUT.V rLAJTTS ISCBJtASB '
Jncraaaad- pradactlon In the woolen
mllla, with Ovary Indication ct the hav
teat year's bastaess that these companies
; have ever enjoyed, la the rule n prac
tically ovary plaat maklngr woolen good
The Portland Woolen MlUa are running
aa high aa three shifts in soma depart
tnetita and giving employment to over
IM people. The Pendleton Woolen MUla
report ail their mllla running to capacity,
and some running overtime.. They are
putting, In new equipment In their Waah
ugal mill to (ha extent of $10,000 to
taoreaae production. The Oregon Worst-
r ed company la running two abifta.
Tba Jantsen Knitting MUla fwport 10
per coat snare orders 00 their books for
spring delivery only thaa their whole
.ltlO bualnaaa. with orders far In excess
of correapondlng period laat year.
FLOUS. MILLS mCHANGED
CoadlUons with the Hour mllU does
not reflect much change, this Una being
ataple. Borne of the mills Bote .a alight
Increase la busjneaa, prlaclpally In by.
products, .
' Other manufacturing plants and shops
t many kind a, of which there are a
Urga Bomber In Portland, are generally
busy. A considerable number of men
are engaged in automobile body , build.
Inc. la the making of brick and tile,
rope, twine, and spectaltiee of many
lda. The outlook In most of these
ltpaa la for a considerably heavier busl
,eaa aa the sessoa advances.
HACKETT ;
DIGGER CO.
4 'V- Clay St.
Teletkese East .
i i wum acatigNgB
RIYEH, SAK3 AX3. 6HAYEL
Tawing and Ligkteriag '
-i ....
P.Iultnomah Trtrnk- A E4i Ca.
WaaJaaala Ifw ! Trla. sSteJT
. ' . . IT WILli
I
I ' '.,:- I
Get Our Ebtimaten FIRST
GLIMPSES OF A MAJOR INDUSTRY)
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i I- t AsV ft ff'-l
S-S:! '' g-" -wl
AcuviUea aJonc PorUand'a waterfront. AboveLoading & Tennlma
S7v A Tl .In 1 a .' . . ....
w ixw vuawunf oDiiee
The Outlook
The Worst in Business Is
Passed and Recovery the
Country Over Is Under Way
(Coprrtsht, 1922. by the Hew York Xeaing
PoM, Iae. Published by Amssemeat)
: By P. Schneider Jr.
New York. Jan. 7. While the present
world situation still carries an abund
ance of uncertainties, the probability is
that the worst of the depression ia passed
and that a gradual recovery In business
has begun. Such a conclusion Is Justi
fied on both theoretical and empirical
grounds.
Rahaaraina tha imiumim f .nnt. I
the typical business cycle. It will be re-
caiHMi uiai axier a crisis naa Dean oren
of Inflated costs and high tqoney rates,
the first sign of a break cornea In the
stock market The next striking devel
opment is a decline In commodity prices,
to be followed In turn by a slackening In
the rate of bualneaa activity and depres
sion. SUU later in the cycle, money
rates begin to fall. The first sign of
a
a v rtrtlient, shock-absorbinf
'pavement surface that with?
tUiids the A, impact of traffic
without shattering1 of distnte
'tratlnf. .
WARREN BROTHERS
COMPANY
2S9 East Sali-o. St,
Partlaad, Ore. v
LEACH BROS. & CO.
-."
Exelstive M aaataetarers ef
SASH WEIGHTS
. Foundry H Hood St -Office
S71 llae 9t
Oregon Fan Belt G.
.' 1SH Seeead 8U-Mala Silt. ,
13
Makers of the best leather Fan Belt for
ell make of Automobiles. Special Belts
for Trucks, etc, Asa Tear .Dealer.
WE PAINT FOR LESS
Wa have bee- painting autoa for 8
Tears and will give you an expert Job.
Veterans Auto Paint Shop
Office t aTaia'UU. Kee.t. Mar. tm.
Car. 1st aad Harrisaa. - ?
DSJ?5?8WW rt Calvert
. -Hps, Irrlratlas IMaa, Oravity
i . ; . Watat. System.
Offlcet JIT BtMu4r Trade BMg.
Braadwar tx. r
raetoryri Kirer St .East 4U8.
BAT Ton vn .
Warrenite
Bitulithic
Ml
'.,y:,:,:',' . -: -,. : I
at aioera Bros. dock.
revival, then, comes aa a rally In se
curity prices.
In the present instance the Indications
are that the latter stage has been
reached. November. 1919, say the be
ginning of liquidation in the stock mar
ket : 1920 was the year of fallinr com
modify prices; 1921 has been the year
of falling money rates. The autumn of
me past year, furthermore, saw a mod
est but distinct improvement in the
volume of industrial production, and the
. Telephone Sellwood 597
East Side Mill &
Lumber Co.
Manufacturers of '
Douglas Fir
LUMBER
Foot of Spokane Avenue
PORTLAND, OREGON
Sash and Door. General Millwork
Truck,, Stage and DeKvery
Bodies Built
WHB.L'J$rOEa:, BLACKSMITHI3TG
Lowest Prviss All Work Guaranteed
Eureka Carriage' fc Auto Works
i m-Ur Coach 8U Bdwy. SKI.
Windowi, Doors, Glass
rim Lamasr,
lecture aa Oar
EEACOCK SASH & DOOfl CO.
Pendleton Woolen Mills
fssdUtea, On
UANUPACTUKKKS OF
Piure Fleece Wool Blankets
Indian Robes; Steamer Rugs. Bath Robea
and Auto Robes
Portland Furniture Mfg. Co.
Makers of
OTTEKSTUfFEB BATEKPOBTiC 1
CHAIBS. COUCHES. LOCKSES,
ALL K1KD8 OF UPHOLSTEBEB
FCKHITUBE aad M ATTBE8SES
UU.Uil Macadam Boad
Pkoaei Mala UK Ui. IS .1
BARRELS AND
CASKS
Aa AB Klals ef teaeraga at
Fiaks) BrCaoporaca Works
M rraak JfaU tltt
KNIGHT'S,
Mince Meat
KNIGHT PKG. CO.
POBTLA3TB, OKIGOU (
5 sM?m
last months of tha year witnessed sub
stantial recoveries in saeurity prices. ..-
LASTlnr tha -ml thni-r ml nf' tlil
Question, it . ia . annannt that hnrinM
cooditiona are 'now. on a much more
workable basis. Commodity prices bava
gained a very fair measure of stability.
"Distress" sellina; ot commodities Is gen
erallr at an mi vmw ...i,,n.
commodity prices are likely to reflect
f proaucuon costs aa a result ot
wage reductions and lower transporta
tion costs. As aoch thev will ba leaa
rapid and more calculabla, They win
create nothing- Uke tbe-uncertainty at
tending th earlier decUnea. Stocks of
commodities are very considerably re
duced and several basic industries show
crnsTwortny signs of haring turned the
corner. - . . ..... . :
A major Improvement in hankine- n-
ditions is another' encouraging; factor.
Whether measured by the extraordinary
rnas in rs aaaa rua aaifiaa ap rnvm - aaa smK-
stastial decline In Interest rates, the an
swer is the same. A vast volume of
frosen credita haa been liquidated. War
paper holdings of the federal reser
system have been greatly reduced. A
smaller volume of self -liquidating paper
which represents lower price levels baa
heaa anhaHtntMl ' Th Kir namKr
baz&a have been able to pay off most
. w 1 i y, . 1 ..
v umr wmm u uie reserve dshbs. a
certain volume of frosen credits does,
to be sure.' still exist-in tha a-ratn and
livestock district. It is a striking fact,
however, that borrowing aa between tha
different regional reserve banks la at an
end, each being able to take care of Its
own needs without assistance for the
first time since 1917.
Actual betterments in industry are nu
merous. Steel making touched the
depth of its depression last July, haa
rallied substantially, and ia holding its
aaina well throuah tha normally dull
winter aeaaon. Textlla mills have finer
a ted at a remarkable satisfactory .rate;
and their takings of cotton . and wool
h&ve increased consistently.- Cotton
growers profited by a strong - rise In
values during the fall, and ' the oil" in
dustrv shows a haaithv reeoverv from
an overdone price-deflation.
xx Dusmess, men, nas turned, me cor
ner, the Question remains as to the prob-
hU mw nf th rwwnrv. Rwf1
powerful- brakes to the movement-must
Da soouuni. x ue uuinauou . l woriu
business has been huge, representing the
ttMtlHatin,. nAl nnlv ft m vfftlnt Tintt.
armistice speculation, but the inflation
01 xour years 01 woria war. riurope s
economic loss was enormous, and the
purchasing power destroyed cannot be
Waatltaaaa.a laa AnV
Weay conclude, therefore, that the
worst Is past and that recovery 4s under
gradual, and seasonal trends probably
walll aaaaa.,4 Al.t ITaaa tVlO IdtmllW .
cheaper money rather than pronouncedly
neiier traae seems 10 no on uie . conn.
Further moaerate readjustments may oe
expected in production costs and prices,
and marains of profit will be moderate.
An increasing number: of businesses
should,- however, be able to operate at
profit
TH T1? WWTV1T. MDITIlTin
A J.aai IfU MJ ... n Wt . y I. lymw .a
St Louts. Jan. T. Invigorating effects
Jaa aaAaalatAi4 .tAiaW If. VOA Q H itrtraal 11
through the South and West are being
felt by the wholesale dry goods ' trade
hr. iHinitUa. nArm ftp. rnt nnlv fait
nnri t riear i a v., ttAffi, Kut cmnA ftiul nianv
ont jf town merchants are in the city
making purchases. Jobbing houses are
anticipating large sales of white goods
in ine eariy part 01 January.
NEW HAVEN CARRIAGE
& AUTO WORKS
Geo. Warier aad Joka Wagacr.
Auto and Truck Bodies, Springs. Wind
Shields Cabs Over Driver's Seat
WE SPECIALIZE OH" WHEELS
Fkose Broadway lift
Cor. tu and Everett
Rasmossen&Co.
.
Maker of
Paints and Varnish
N. E. Cor. 2d and Taylor
Portland. Oregon
fC ABO Um BRIOK A SFteiALTV
Made in Portland
IP IT MICK, wc havi rr
aai t cast onnisoa as. MMrnjuie, on.
Ohsa a MtnchboiM.
St
CLARKE COUNTY IRON W03KS
CaOINEKRS, SUCHINISTS
PATTBIIMMAREM ,
LlfM and ttaar Fsnlna
104-ios m. 4ta oc
P. SHARKEY & SON
Long Straw Horse Collars
UST oaa abo MM ava.
BATE S. PR eSTt
UWINbANo LIGHTERING
BATES DOCK BLDG
H
11
ShopeBrickCo.
II LLOYD
Industrials
Random Observations in Port
land Plants by an Inquiring
Journal News Writer -
How would you Ha' to pay S15O0 for
a single- picture to ba used fat your ad
vertising? - Yep, we do K right here -at
home. Colea PhlBlps painted one bath-
u-ar gu-i sor u jantaen Knitting Hills
for that little sum. Sea it la the na
tions! magasines. ; Soma bathing- girl-
mr am som cnov 1 look at them.
.5 M
an excloalve prodoet of the effete East?
W W- ataoa in foruand also. ,
We ar not rnml . aiHrilH r c
Freeman of tha Aaaodalad :Ii4iHtrlM
compates that If tha noodles, spaghetti.
macaroni ana vermiceiu maae in Port
land were lata end M end they would
reach awn llnua armniu ..a4k ..j
u a aoapie bow anot in the middle.
.
laia is cumnr am nrattv inaj fn
sewer Job B. P. Seydel bid $54,24.47 and
unaxles Solomon bid aa even $5(24. He
Keia tne joo oy a margin of 47 cents.
Cement sine made in Pnrtiam tn w
used.
What is reputed to he tha first elec
tric steal furnaa In naa wt . .v-
Mississippi rtrer can bo seen here at
uuuiv. rui in dj vna auectnc steel xoun-
drv tUSt a littla whila .miait 1.
now regarded as more or less obsolete
ana naa oeen superceded by a late mod
era type.
...
"A prophet is never without honor save
m ms own country.- Tnere are still a
few old fashioned people that believe
that a thin must ha ahinna
or it is no good that because it U made
rignt at noma it is made by inexperi
enced people and makeshift machinery.
I got this Story from excellent infhArir.
A Portland manufacturer, when In the
East, entered the national headquarters
of the association in hla Una i rim.
and- without mentioning hla name asked
where he could go to see the very latest
In machinery and equipment ia that
business. He expected to pick up some
points for use In his own plant whan he
returned. "The most modern plant In
our line," he waa told, "la not in thia lo
cality, am a matter of fact too win
have to travel quite a long way to see
iv 1. is locsiea out on the Pacific coast"
and they referred him to his own plant
-
, 1l7,ouJ.knw thre vraa a large plant
in Portland that makes nothing but sash
winaows 7 Tes Leach
oros. mazes lots or them. Question 1 How
long ooea 11 take to wear a sash weight
out! Married man on my right says de-
l-Buua on wnai u is used for.
BRICK
for Permanence
A home built of Beat Clay Brick is a
peraanent asset, a home of beauty
nd a Joy forever, rather than a con-
iui iiui consirucuon.
Build with thm
"IdeaP Brick HoUow Wall
Book of Plana Free.
Standard Brick & Tile Co
- M fit. OA ; sf
7 9m oi JsnUvaT 1ft
Commodity :. Briefs;
. t ' STEEL ..
Cleveland Tha Upson nut works ot
the Boiuae-FaHer company announoed
today that SO man would ba rw
employad immediately. Vice President
laaapin aaia bualneaa old not really re
quire the hirinx of thai number but that
the oomnanv waa dolnr 1 i hain it.
old employes. Sixteen , hnndrad are
aormally ampioywd. . : . .
New York Tha Merchants' Shipbuilding-
oorporatSoa haa been awarded-a
Experiments Are Costly
- . . ,. 1
The wise buyer knows he is rarely successful in keeping his costs
down, buying unknown and untried merchandise at alluringly low
initial price. '
The cost of undoing a poorly done job, through fault of poor ma
terial, increases'first costs, sometimes to the point of losing legitimate
profits.
Buy "Portland" cordage and assure yourself of maximum length
and required strength, for your purpose, in rope and twine.
Our unquestioned reputation is your guarantee.
Pure Manila pure Manila
. Rer U. & Pstaot Oft) (R. C. a Pateat Oft.)
Clover Leaf Brand Seaport Brand
Unexcelled A General Purpose Rope
The Portland Cordage Co.
Portland
. Facts of Public Interest
Few people in Portland realize the magnitude of the Warren Construction Company business
and what it means to Oregon in the employment of men and in the purchase of materials that
go into road-building.
Location of Operations:
We are operating in all the Pacific Coast and Northern Inter-mountain states.
Volume:
Home Product:
Over 200 men who live in Portland are sent out durittg the working season, and their
earnings return here to support their families.
thJd'ocks PortlSd USCd HginateS in this section' and thousands of tons pass over
We maintain a complete shop in Portland. It is erected on our own property where
we manufacture and repair our equipment, and upwards of 50 men are employed.
Our bankmg is done at the home banks in Portland, and bonds which are received in
payment for work and collections pass through Portland bond houses and banks.4
Guarantee:
Seventeen years service on the principal streets of Portland and over eleven years'
service in upwards of 150 aties in the Northwest, and the Columbia River Hiehwav
SS5ra2aSSth year of use' arc the best guarantce for our
a
Warren Construction Company
Wybcrg Butte, Portland, Oregon. (P. O. Box 1186)
contract -for alx aad ofte-half mtlaa of
steal riveted pipe for exteadinc tha Una
uie uaaam aqneluct rrom Cold
-Sprtaga to Oesining. N. T.
; COPPER . . -."
New York The copper' export -eltua-Uoa
la atrengthenlng aad although tha
doaee-tlo demand la light at present It Is
expected to pick up rapidly in tha aarty
part at tha year. - - -
COAL -AND COKK
Plttabarg With ooatracU expiring
January 1, mora buyer are expected to
eater tha 1 coke market. Tha A. M.
Byars company la la tha market tor li.
00 tons monthly aad tha Sharon Steal
company ia eeeUnc 11.000 tons monthly.
Sisals
Selected and Dependable
SILK '
Palarann. T JTi. .r rrv
thia month bar Car exceeded those ot
uecamaer. ism xaaaiactarara have ao
advaaoad price oa finished prod acts ia
tha aaase ratio that raw aUk ptioas bava
been advaaced aad buyer ar tnaat
festlac Interest in immediate deUvertoa
and ia spring- Unpa.. - ' 1
i ' ' " CHE3CICAU " ; ' 1 .
New York Efforts - to . dispone el
atoeka of ehamlcala la warahouaes hers'
before the first af tha year resulted ta
soma prtos shadlnar. . elthoesb oaly
Small t) nan titles changed heads, bat It
ta believed tha tar of the year wlil aa
a ehang for tha batter.
Seattle
II
a
i 1
.
i
t r V Wlnfc Motor Repair, and Ceaaral Boctrlcal Work.
, v,v MAI NjjE LECTRIC",C tf
' f-kaM East 3822.
af- m