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j wr w.x, vuuwi, , r fKlDAY MORNING; SEPTEJ:IBEK 21; 1925"" S
HEP
hot
: DY L-n. GRE17S
Corporation Commissioner
Shows Large Increase in
j : Business in Year
A total of 11,110' Oregon do
mestic corporations and 888 for
eign corporations are novr on rec
ord In the state corporation, de-
:partment,; according ty thei annual
report of . W.-E., Crews, commia-
sloner. corerlngr the year ending
June" 30." Thla is an Increase of
, S34 corporations oyer the preyl-
oua year.
A large Increase in receipts for
the year is shorn. Total receipts
v amounted to S3 48,8 92.52, while
the total Expense was but $23,
318.7,6. leaTing $325,563.52, to
he turned oTer to the - general
fund. A decrease of $51.69 com
pared with the preTious year Is
shown. The increases were main-
My during the months of April.
May and June, 321,839.82 being
the increase for those months, '
rr'y-: Cost of Operation Cut,J:i0;
Tne cost of doing business la
the department, says the report;
t has been cut from 7.2009 per cent
to 6.623 per cent.
During J the year sa-vings and
t ibullding)"- and loanas'soclatlons
hare ; increased in number from
13 to 534 rAlL are carefully sup-
?errised,lit Is clain&d.; The total
capitalization of the associations
is 8l44.75O.00O. They "hare
loaned, out of; their deposits $23,
544,769.57, most of . which - has
gone ' into house building in Ore
gen. ; : ;
; Rlae Sky Law ActiTef ; ,
jr Under the blue sky . law" 258
' permits were issued to dealers, 37
of these being to stock-brokers and
I bond' houses. I"ina of the dealers
are issuing interim certificates,
t, which require special examina
tions. The 'permits issued' during
r the year, Inrolte a total of more
, than $35,000,000. ' V. ' -
"My predecessor la office,
says the- retort "had . begun an
; active - campaign against .the - so-
called 'comrxoa law trusts.' - I
t have carried .on this -campaign.
through the blue sky- department,
1 to a successful conclusion,' and I
. can safely statar that; all connca
"f law trusts hare been driven, from
i the. state or hare either qualified
f before this department or . the
banking department la the sale of
their units." ; ; -'V-.;
7 . Plaa Condemned '
The- recent passage of the act
'providing for the organization of
corr orations with stock of nor par
value has -, thrown considerably
more responsibility upon the blue
sky department, it Is said.. "This
plan Is condemned by the 'depart
menC the epoft says, ;-6n': the
ground that- it Is calculated, to
constitute a - fraud upon' the .in
vestor." 7 " -
Commissioner Crews says 'he
has been active t in curbing the
activities of fake promoters, that
some convictions hare been made
during the year ! and' that other
nvestigatlons are pending.
Would Rewrite Act
Relative to the savings (build
lng) and loan act the commis
sioner recommends that- it t'be
revised and rewritten Inasmuch
as the present act is contradictory
in several instances. JThis act
was originally'; writtenproviding
for .the older type - of association
and does not adequately ; provide
for the needs of a modern savings
and loan association. There is
too much left to the discretion of
the commissioner in this respect.
It is also my recommendation that
our corporation code should be re
vised and modernized. No radi
cal change, however should be
made without ' very mature ' and
careful consideration of all. the
facts and effects.! - v y-y .
: Claesificavtkm9 of Conctfr ,
The 11,110 -domestic- corpora
tions on record ' are .classified as
follows : , General, 7272;- mining.
270 ; charitable,; religious, ptc
3198; cemetery associations, 217;
cooperative; associations, 113;
building j and loans associations.
20;: irrigation and drainage, 1 4.
The 888 foreign corporations
are classified as follows: Gen
eral, 871;- charitable,. 14; - build
ing and- loan,3 , ? " 71:. 7 ': : v' i '
tm ir&ifc iiiii i i a b
i ' 7
.r-avr-i-l
, rir -.it -t A
The financial returns for the year
show a revenue" of Mexi $17,
100.719.33." . "Working 7 expenses
Were Mex. $13,256,388.37.'
I- 7 Huge gains In all phases of the
activities of . the post " office will
be recorded this year since all
foreign postal agencies' closed on
December 31 last and the burden
cf ; the work these did Is shifted
to the Chinese post office.
WIMi PRESERVE VANISHING
" ELK ' - 5 -
VICTORIA, B. C Sept. 20.i
Preserratioa p'f . elk, '. fast disap
pearing! on 'Vancouver Island,
through the establishment of a
resenratlon forty sopare miles In
extent . north of Cowichan lake
has been undertaken by the Brit
ish Columbia game board,, it was
Close of Foreign Agencies- ;
Aids China's" Postoftice
SHANGHAI, Aug. 16. (By As
sociated Press.) Disturbed con
ditions In various 'parts of China
are reflected in the country's post
office report for 1922,1 which rec
ords - general 7 decreases in ' the
quantity of postal matter handled.
ANonirn REVOLT
- v,
I; ,, --Tana Aurou&x -"
The Spanish garrisons
h-YS revolted and dissat- ,
UZtd withthe Hon-occan- -
campaign, - are - trying' tcr
overthrow- Alfonso's, gov-
1 -mimmmmmmmmmmmmmmmmmm
- r. , ... '-.,...::... -.-
; Z2-1 ' f' ' : 3 1
' ! "' "1 ZZI O
' ) ?orai:u?uted .
7i 7 ;fev( m time only,
' ' k-c7tl-l . vH, each. 7
ti : V J k 'A
m -. . X. ' . I? '
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Vacuum Cup
TIRE
. ; v. .
. ' r
you buy, we
will give
ONE TON TESTED
TUBE OF COURES
PONDING SIZE
Rerit price reduction en Viicuum Cup
TitTg, pluaJtHj FREE TUBE offer niyes
eppcrtnnity for aix epprradmatef '
announced here recently.
i. Improvements now being, made
in the district wlll afford real
protection ' to this . rare species of
big game, according to an an
nouncement of the board..
8, f. MCXICIPA1V OPERA
,: ! 7" SEPT, 26 .. '
EAN FRANCISCO, Calif., Sept.
JOi -When tbe ; music 7 season
opens' this fall, San Francisco will
have the distinction of being the
third city in the United Sates to
have its own grand opera, it has
been announced here. - In an
earnest desire to bring back San
Francisco's "good old days" when
this city was one of America's
greatest, exponents of music, a
group of local civic leaders, have
banded together and formed the
San- Francisco Opera, association, have takenout first , papera.'
Citizenship. Applications '
Show Increase in Chicago
( CHICAGO, Sept. 20. (By As
sociated I' Wess:) - Desrpite y the
stringent immigration' restrictions
of the last, few years, applications
for naturalization: here have in
creased ta: more than 30 dally,
Deputy, Clerk. Thomas V. Sell haa
announced. ,
a "Where formerly i i immigrants
remained unnaturalized for years
after' arrival in this1 country, they
now take out. their papers as soon
as they are eligible'-' Mr. Sell de
clared. "The Treaon for this is
that manufacturers and. other
employers bt immigrant labor aro
becoming increasingly insistent
that their employes be American'
citizens,' Or at least that they shall
1 , ' - 7 ; ; ; '; -' '-'' t;-y - : .:..y.z" :.
I 'fe l':': V:;-77jS.: ' :;'7?T? 7 - "y';"--'
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Ai47 "1:.:'H:--f ' . -
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.;': -
HJ"77"'" 'w " ' .
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i:-f:-:i'': . "'' iV-"v.-..i:.r"tv,wy77,--
The Italian flet'sailuiR. tinder scaled, cnei-
Shirt Value!
Ftir the Man who Carca
The kind Jbfc hirt-evcry-
man likes ' to
wear for the warm'
days. Soft, lightweight
end Yery durable. J
Silk. Pongee (Shaatong
; iecntsr pleat Ocean pearl
buttons. Two styles j atck .
: band with.- soft collar U -match
or collar attached
with button flap pocket. . '
LARGEST .
CHAKT
bzpARTMErnc
STOriE
OnGAfflZATIOir
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If r. K I I I r
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s ti i a .. x
0 U
475 DEPARTMENT STORES.
ivica
" sTcri
16d North Lilert y,; Salem, Qrenpn
FopIou.- . . 7i V,
t7e Eavo
L
bonw rwrnircaiieiite j wfaich .yea
S lorr prices, & ' cratl.
... . ........ . . - . . - -
hich yea norr hare xa mTruL"- C;:r!7
2ln C'J Cj
"Straws show the w3
the wind M tlowL:-." -
TJ1 rrowtli cf a
' castile bttiiiif i' j u. )
f chsntctft; cf t i rr a i:
. has t tzi.tr tl Us j
that count-far, tis i .
- It- is v the . r-ir- i
s- which Ulta. c-.. :t!.
mesa so i. t",1
- pleasure" an the t"sl-c--,ti-a
cf thr I.c;;:.- 1
;!Th!.iStore-ttlreS" t
aoastaatly render n a-J
retsa , hrfrl enrs'-.
,'srrrttLt jour w;;es
; f Hias. 7 ' " ' '
'7 I To serve you a tit more
f JeCeiently and better c 'T;'
by da? ix cur. aim. . !..
. i
T:3Rica,,
n.. ... Ia Grea Favor . .
7W
A rongh-flnislied Fall
Hat which la a "ruffian"
In. name only. In Mad.
- peacock or grey mixture.
, Satin lined. . A - real hat
and a real 'value. y.
$3,98
Let Us Be Toor Hatter"
Drccs
Shcc3
For Coy xsd Yocilia
All mahogany side Bat
Perforated seamless vamp
:nd tip. Half double
sole. Half rubber bset
A' good value I , x
Size 12 K to 3 . . $3.0S
Sizes SH to 5H ...4J50'
Boyij'Hocs
Extr heary cotton rih
bed hose. All sizes.
Stylish AH-Woo!
' 7 Uloterette
for Men end Younrr M311I
SISII to.29.1
, ; VALUZ -i
. The ' tremetMlous , de
mand for. these ovcrcoati
in our Stores gives I
as a. buying advantage of .
the ! greatestr importance ,
to- you. $ :5ee tnesn-aiid
you'll be surprised at the
worth at such? a- popular
price. " - -
Great, Roomy, ServiccaBIq
poato Abocndinsr iii Stylfi i
and Comfort!
The inodet is neither conservative hor
extremely Eancyjiist one of those stylish,
- common-sense coats which ' are so happily
popular -with good dressers, young: or olL
Made of . t
VitH CcaSratt cr FlaI3 Bad;
'. Choice of hrowiL tan. or errer- I is a
three-button,' double breasted . model -all
round bejtr patch pockets with fias; ahd
cut 44c inches lon&Iarire, roomy and warm.
;' A vronderfnlry- good costffor ian exceedingly
' low pncci -rr . ' - - ;
Year Correct Sit&hilzrQt
' : X "
W . .i "Waamaammafcv -
1 M
A 7 . I
BW r a - I ' . . .
ymiyjmmm.
Ml M
.: ,7; . .: : : ; ' : ' ' , V
:,
iii 1 " lis r 1
'JU ... Ii I'' '!!
1 v r
aat ' . a aa ' - ' r'W - T
In a Leading fuczz Z77z. vo . a-
: f 'I ' k. k ... '.
tm: : a-.' j 1:
I. , J .-S?v- H
l ACT. I
:! 7 Iii -4
. , . ' I ......
, . Tq yoal Who ap?r -Ci i ? a r : -,
thing:- better- thaa xr.trtl' l ' -
fcfc -.-, .4 j
1 wairalv-recunicca-the;?- vi'C-.-
a m T V T , , - i "
Hi a" 4 L ! 1-?
r - lour tcicciiozr in paii j . . ,
'Brown and.' blue, also" fancy rey '
"arret" hruwU hcrrrrLiwr m.c
i?;:iTHeSmti;fcr C:yz cr .L ,
T' ". 1 wear whtch a' gtcit- r..z:.ty t :
men desire , . . ,
r -v"
4 cfcrcjmTrr
AD VocI ' Cci:iincrc3 end Tv.'cr
1
$125pio $13CQ -
; L These remarkabk . vaJuea are, po-
. atnie .only. Decauie ot our largej-f4
; qniretnent' tor oar hundreds of Storeai
: These, Suita. ara, made according- tj
3 ourr tpeciucation and- bea our ; ex
i elusive, label,, "Penney Juniors. j ,
'." . Each SmtJIaa
.2Paurcf Ixickcri r
and hence give double service. The
' model is as . illustrated,, welt tailored -
throughout -knickera- with doable1
1 seat and -kaee, doable- ttitcbiat- and
. extra belt with buckle coat is single
: breasted,! yoke . in back with . bo
, plait, patch pockets with gaps. ? '
5 Coott, Serviceab!V' Fabrics all
wool catamertt and tweed- ia jjrey.
tan, brown, -sreeav and blue, checks
and overplaids. v .- . i -
-' -f - ' -
- ' V rt
V .Viol...
Kb.
. I
-..'r !'y' 1
rsrc K-Vi Siicsa fds- Eall
.Oist Lov PMzg'zi Save Ybii Money!-.
Lm m i
O --c N-
:. J..
- Men's brown lace shoes with
perforated whole quarfesasidj
tip. .Welt sole.! Half rubber
heet A neat, comfortable shod
at - .-.ip
. i
Tts Cap cf Caps!
; Of a new import-
v ed fabric,; expertly
tailored. rin-to
1 ""' Waverly IT r a n 6T
I (trade mark) fea-
'ture -,Cap.i " Styledj
! and ' priced - right'
Khicke? Siiiia
- a
Coast to coast go , where
ryou will there's no place you
can find so, much , in do thin
wear for your boy at $3.90
iUjisttofbe had in these cassi
mere. suits. . . .
.'I Are Veniined
: ' .. v: ...
hard wear, The illustratioa shows :
the smartness-, th , ia!s
treaited cadet With belt and istch
f pockets and fiapa.. The back baa
.yoke. with inserted plaits. - .
I aiscy rr,... r J c - - ; - -
? Tcr r 6 t- 17 Te?s rr - -
c To
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--. 71
sry
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