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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (Jan. 29, 1924)
THE OREGON "STATESMAN, SALEM OREGON TUESDAY MORNING," JANUARY-20,: 1924 4"? Y " r rtfl r vr-'h-:"- 'tis - - Oregon's great dairy pure bred Mol stein. Disclosures' of Senate Inves - ligation Affect Stock ; V.: Exchange stock sales 1.2S6.400 aTferaged Tptal C Twenty Industrials 99.93; net loss. 8i. High 19i3, 185.38; low 83.76. ; Twenty railroads averaged $4, 96: net gain .29. High 1923,90,51; low 79.53. H XEW' TORK; Jan. 28. Heavy speculative Belling of the stocks of the Pan-American Petroleum jnd Sinclair . Oil ;conipanies based on the belief that their leases to naval oil reserves would be can celled as a result of the dlsclos- ures 'before the senate - investiga tion committee was the feature of today's active and irregular stock market The Pan-American is- 3 issues each Closed about 8 points lower and Sinclair lost one. Transactions in these issues com prised nearly one-renth of today's business which ran well over 1. 000,000 shares. With a" few conspicuous excep tions, such as American-Can which touched a new high level record for all time 'arid closed nearly 2 points higher, most of tha indus trials lost ground. Railroad shares showed moderate improve ment, due, in part, to a renewal of buying for European accounts and an Increased domestic demand pre dicted on the favorable nature of some of the recent earnings state ments. Weakness of General Electric which closed nearly six points low er at 214 1-2, was attributed to of ficial denial of rumors of stock dividend and the filing of n com plaint by the federal .trade com mission charging that General Electric and other companies with maintaining a radio monopoly. ; United States. Steel- met good support in the expectation of fav orable dividend, jdcvflopraeats. jut tomorrow's ' meeting of the board yielding only fractionally on the (lay. Baldwin dropped 1 1-2 points to .1.24 1-4. Motors held fairly steady on the removal of re cent selling pressure. Further ad vances in gasoline and certain grades of crude brought fresh buying into some of the domestic Joils, Atlantic refining and Tide water gaining about three points each. f Kresge jumped six points or. publication of the 1923 earning.! report;! National Lead, General Baking and Montgomery Ward al so were strong. Atchison was ti leader of the railroad group. ; Call money opened at 4 per cent, advanced to 4 1-2 and thence t.. 6: where it closed. Time money was quoted at 4 3-4 for all matur ities, the same rate being quoted tor prime names o noomniercial paper. Foreign exchanges - showed marked improvements in reflec tion of reports predicting an early end of the British railroad strike. Demand sterling moved up more than 2 cents to around $4.25 and French francs were quoted about 10 points higher at $4.5$ 1-c. .1 . THE REPUBLICAN TARIFF By JOHN" T. ADAMS, Chairman of the Republican National Committee Grain Inspection Costs Less, in Spence's Claim C. E. Spence, state market agent, in a report filed with the governor, claims that 80 per cent more business was done by the grain inspection department in September, October and Novem ber of 1923 than during the cor responding period of the year pre vious, but at a reduction of $430 in cost. This department, which up to 1923, was in the hands of the public service commission, was turned over to the market agent when that office was created by the legislature of 1923. The market agent's department, says the report, assisted in the or ganization of the Northwest Hay association which has sales con tracts controlling 75 per cent ol the hay produced in Oregon and Washington. Assistance also was given the poultry producers in signing up 260,000 hens for a five year period. Success has not yet been attained in organizing the potato and onion growers, al though several meetings have been held. There has been suc cess, however, it is claimed, in co operating with the government in the inspection and grading of potatoes,- with the approval of the growers. Unfavorable financial conditions is the cause to which is attributed reluctance of the farm ers to get into the cooperative movement. January. February, March $31. ( 'oni No. 2 eastern yellow shipment January $33; February, March. $32.50; No. 3, same, January, Feb ruary, $32.75; March $32. Millrun, January, February $25. LI IN PORTLAND, Jan. buying prices, new timothy, $22.50 to eastern Oregon $20 falfa $16,r)0.to $17; cheat $15; oats and oat hay $15; straw $8.50. Selling price $2. ton more. 28. Hay crop, Idaho $23; same to $23; al clover $16; vetch $16; WHEAT LIVERPOOL, Jan. 28. Close to 7-Sd lower. .March !s, 3 5-8d; May 8s, 10 5-8d; July 8s, 0 5-8d. MINNEAPOLIS, Jan. 2S. Cash. No. 1 northern $1.13 U to $1.1734; No. 1 dark northern spring, choice to fancy $1.21 to $1,273,4; good to choice $1.17 ; ordinary to good $1.14 to $1.1734 ; May $1.13. . ; July $1.14 3-4; September $1.12 3-s. uo H1I Wheat and Oats Share in Advance on Board of Trade Yesterday One of the of tbe H e publican party l the policy of a prot e ctlve tariff. The Wisdom of that policy 1b demon strated by the effect its application lias had up on the!" United States." V Ourlng 60 years of the Eepub Jyican party'a, existence trie United I-nyutes li&g been under a protective tariff with a few exception o( very brief duration. purine thl period has occurred the Industrial and as rliultural , development of this country. ; IThe typical attitude of the Dem- IV- jocratle party upon the tariff was I ewresscd, ui its platform of 12S in which It-"denounced Republican 1 peytection as a fraud," and prom sed the repeal of, the 3IcKinley tarin as ofo of the beneficent re ' iflts that will follow the action of ' the people in entrusting power to tlfe Democratic party." The ''American people believed 1 ttfe Pemocratic party tariff claims I and ave It control of the covern t nnt.,TThe 31cKh--ey, tariff was re ! neakdi The result was a panic and hard timers..: " - . . 1 The next Xree trade tariff under which th countrysuflered was the trhderwood' act o J9i3. ;,wnen it was enacted the United States was ptosperou;ia4i?jitries ; acme wiq wages. Inside oi 18 months there were 3.GOO.0W idle wage earners, railroad yards were congested with Idle f reiglit . cars, more business failures occurred than ever before i.Vthe history of ths country and roup houses were established. Ths country was saved from an even worse effect by reason of the artificial stimulus to business brought rbout by ihe European war. After the war the Underwood tariff again operated to the' injury of Industry, When the Republican party came Into power March 4. 1921. there were more industrial wage earners walking the streets In Idleness than at any previous time in the history of the United States. One of the first acts of the Re publican Congress was to enact an emergency tariff which was supple mented later by a permanent tar iff. This tariff ha been in effect only a year. The benefits are known to all people. . Never before have our industries been running so steadily, turning out such quantity of products, em ploying so many men and paying so high wages as during the last 12 months under the Fordney-Me-Cumber tariff. Never before, in peace times have our exports been sp large. As a revenue producer, the Fordney-McCumber act excels any tariff law in the history of the United States. ; As President Coolidge, in bis re cent' message to Confess, : said, touching upon 'the tariff: The present law: has accomplished Its two main objects. It has secured an BDunuani revenue aau seen piwmc tlve of aa abeundlnf prosperity," GENERAL MARKETS SAN FRANCISCO, Jan. 28. Receipts: Hay 274 tons. Hay, wheat $18 to $20; fair $16 to $19; tame oat $18 to $21; wild oat $16 to $18; alfalfa $19 to $22; stock $15 to $17; straw $12 to $15. SEATTLE, Jan. 28. Barleys- whole $37; ground $39; clipped $41; chick starter, $52; chop all grain $44; cocoanut meal $37; corn whole $38; cracked $40; hay alfalfa $21; PC $25; timothy $26; DC $28; Puget Sound $19; mixed $23; sheep $14; linseed meal $60; scratch food $44; wheat $39; soy bean $55. Cash Prizes Announced For Essays on Thrift Cash prizes are announced for the thrift essays being written by students of the Salem schools and which irust be in the office of City Superintendent Hug on or be fore February 1. The prizes are hung up by the Salem banks. The prizes are as follows: Senior high school First, $4; second, $3; third, $2; fourth $1. Ninth grade First. $3; second $2.r.o third. $2: fourth $1.50. Eighth grade First, $2.50; second, $2; third, $1.50; II. Seventh grade First, second, $2; third, $1.50; $1. Sixth grade First $2.25; sec ond, $150; third. $1.25; fourth, $1. Fifth grade First, $2.25; sec ond, $1.50; third, $1.25; fourth. $1. Fourth grade First, $2; sec ond, $1.25; third, $1; fourth, 75c. The judges are Mrs. J. L. Brady, Mrs. George Hug, Mrs. C. A. KeUs, Mrs. J. C. Nelson, Mrs. ilice H. Dodd, Miss Edith Hazard and Charles Lisle. fourth, $2.50; fourth, CHICAGO, Jan. 28. Cprn led a big rally in the Krain markets today. A decrease was shown in the I'nited SStates visible supply 01 corn ana wneat and oats as well. Besides, damp weather was a bullish factor. The com mar ket wag nervous at the close, but notwithstanding an early decline. finished to 5-8c net higher, May 79 7-8 ; (ft 80c. Wheat clos ed firm at 1-8 3-8 gain, May $1.09 Vi and July $1.07 5-8 with oats V 3'-8 to 5-8 up and provisions unchanged to 25c down. prn scored an advance of near ly 2 cents from the day's lowest prices and finished near then top figure of the season. Persistent selling had a depressing effective during the early trade. Bull lead ers promptly became aggressive in purchasing and were aided by nu merous recruits who were influ enced by the fact that the mar ket had been on the downgrade for several days and who were an ticipating a reaction. Increased receipts of corn at Kansas City, Omaha and St. Louis had much to do with the tempor ary swing downward of the corn market. ''Oats, today, like corn, got with in a fraction of the best prices so far this season. The readiness with which profit taking sales of late in the oats mar(ket have been absorbed helped to lift values. Wheat reflected in the main the action of corn. Today's de crease in the" visible supply made a total reduction of about 6,000, 000 bushels in the last three weeks. . Heavy arrivals of hogs weighed down the provision market. stands firm for f he policies at tlm Monroe, doclriue and for a soldle: bonus." RnVny sketching 1 lu 1 1 f - Ills ipry ol" th. pri'sif;'iiti:il n -; . i 1 1 Mr. Ciii'.vii(.r toi! luiw he was born in Oakland. Calif.. imIm-iI ;m Kradiiutcd from the hi-IhihI-i of in.il Matt'; assisted - in the clear. tin of the San Fram is.ro graC . ri:i;; !;canie governor 01 I lie M:ue t a large majority; fought ihe rail road Kraft eoiiditions agaiMsi his own lather, who represented t le railroad in Iiis capacitv as ;:U r- ney ;iiul that he was the fa 1 Iff of 1 he good niflds movement in t?sa! statf. 'Whore arc- the slatsmtMi of 2" years ago?" Mr.: Crowds r asked. The country is l.eiii run by poli ticians. Let us .see-to it that men arc elected to office who have hon or and ability. The time "ins come when international affairs lemand . more care uiul a t lent i.':i than national affairs. Men of in- ti-grity, who know their jobs and who will perform their duties, are needed." "President Coolhlge is a pood I nan and I hope that if he is cI- -- ed to the presidency he will pry into things and eject some of the leadeis," Mr. Crowdef said in closing John L. I'.rady presided ns cla.ir- nian ot the tkiy. ' Several new inemln rs were introduced. Cov- eitmi- Waller M. 1'ieice resliOll.le'l to a reniiest for i few words. Division Day Set Apart For Near East Relief Fund "Division day-' for Sunday, February lo, was announced bv l)r. 11. C. Kpley, superintendent of the Christian Sunday school, as the time for the children's gifts for Near East relief. The announce ment followed an address to the .school by Rev. J. .1. Handsaker of Portland who told of how he had set-n hungry children in the Near East divide their food with other less fortunate children. They are our own countrymen and In some cases our own rela tives, for whom the appeals are being, made, and to know that these relatives and friends driven from home as manv were at the beginning of this winter. are now totally dependent on charity makes us nearly desperate. If the na tions would give our people in the near east: justice we would not ask for charity. But as long as the terrible suffering there is due in such large measure to jealousy and greed on thtj.part of Christian powers certainly; the least we car. do is to care for the children of whom 9,000,000 were made or phans during the war, 54,000 of whom are safe and happy in Am mericaii orphanages in the Near liast." r. 4nce Office Boy. NEW YORK, Jan. 28. Evapo rated apples firm; choice 13c to lSeJ fancy 16 to 16c. Prunes steady; Californias 15 to 16c; Ore gons 6 to 12c. Apricots firm; choice 12 to 13c; extra choice 14 to 15c; fancy 17 to 19c. Peaches steady; choice 8c; extra choice 8c; fancy 9c. NEW YORK, Jan. 28. Hops: steady; state 1923, 50 to 55c; Pacific coast 1923, 27 to 32c; 1922, 22 to 24c. Fifteen Injured When Canadian Train Jumps CALGARY, Alberta, Canada, Jan. 28. Fifteen persons were in jured, three seriously, when Ca nadian National railway passenger train No. 9, en route to Calgary from Saskatoon, was derailed near Ardenode, 5 0 miles northeast of here, this afternoon. A split rail was said to have been the cause of the accident. Several of the steel coaches ov erturned and were precipitated down a small embankment. A call was sent to Calgary for two doctors, and several hours later a special train brought eight pas sengers to the Holy Cross hospital here for treatment. Tliree of the eight passengers are said to be se riously injured. PORTTiAND, Jan. 28. Grain futures: wheat, Bluestem and baart, January, February, March, $1.03; soft wheat, western white January, February $1.02; March $1.01; hard winter, western red January, February 97c; March 96c; northern spring January, FejjJ ruary 98c; March 96c. Oat ( No. 2 white feed January, Feb ruary, March $32.50; same, gray, January, February, March $31.50. . '-" . Barley x . No. 2, 46 pounds January, Feb ruary March, $ 3 1.60 ; 4 4 pounds Mitchell Motor Company Is Sold to Nash Firm RACINE, Wis., Jan. 28. Sale of the Mitchell Motor company plant here to the Nash Motors company of Kenosha. Wis., for $405,000 was completed today. The Mitchell Motors compan com pany went into bankruptcy about a year ago, and since that time the plant has remained closed. 3; Would it be -possible to make sorao of these safety razor guards so jtbey will Il.Voaffltflarsr J DHNSON BOOSTED fit NIB. CHOWDEH Speaker Declares Californ- ian One ot hew Keai American Statesmen That United States Senator Hi- rim Johnson is the only man born and reared west of the Rocky mountains who has ever been reckoned on as presidential tim ber was the statement made by U. S. Crowder, in speaking, at the Chamber of Commerce Monday. "Laying aside all prejudices and political beliefs. Senator Johnson is a remarkable character,'1' Mr. Crowder said, i "I have heard Os car Underwood, Democrat, and Henry Cabot Lodge. Republican, refer to him as orie of the great statesmen of the nation. He is capable, competent, far-seeing and wide-visjoned. The country needs such a man to direct its pol icies." "Senator Johnson believes in a square deal in every respect. In doe respect to the late President Harding. I say; that the Teapot Dome,.Scandal would never have occurred if Hiram Johnson had been in the presidential chair. If he ever becomes president he will see that several scalps are re moved and will be the doctor in charge of sevefal cases of political appendiciti3 - la addition tie t v. j, A A ' t f 42 - lK ,s "Vj " : b - - H ' '9 Starting at the bottom rung of tlM ladder, of success, Robert F. Cowie has climbed to tha topmost rung by assuming tho head of the American Railway Express Com pany. - Forty years ago Mr. Cowl worked as an office boy tn tha Cleveland office. 1 - tiGtton; WEDNESDAY 10 A. M. and 1 P. M. Capital Bargain House - ' - "4 S Corner Front and Center Streets Bargains for Everybody 1 New and Used Merchandise - ConsistinK of Machinery of every description, automobiles, plumbing' supplies, inrludinpf jbath tubs, sinks, toilets, hot water tanks, carpenter ,tools, black smith tools, garden tools, furhrture, ranges; heaters, cloth baskets, brooms, auto accessories, in fact most anything you may ask for- the Capital liargain House has the largest stock of its kind in Oregon. .Terms cash. H. Steinbock, , Owner. F. N. Woodry, Auctioneer. - V Vulcanizing Plant at mm rn THURSDAY 1:30 P. HI Over Gingrich Auto Co, in Reliance Paint Shop Cor. State and Front Sts. Consisting of : H. P. Motor Buffing wheel. Grinding wheel Shaft bracket 6-in. shaft, hangers and belts. No. 4 Curtis air pump Range boiler ..Wiring from meter, to mo tor, vulcanizer and switches. Shaler tube plate. Bascon tube plate Shaler comb, inside arm plate. 3" to 4" Akron Will iams sec. molds with clamps. 4'" to 5" Akron Will iams sec. molds with clamps. Hammer 314" to 4'' re tread molds with clamps Hammer 44" to 5" re tread molds Pr. bead molds 4 H. P. boiler sub. flu pipe and connection boiler to molds 3- in. mandrel and stand 4- in. mandrel and stand 5- in. mandrel and stand air bag 3 air bag 4 air bag 5 air bag Blacksmith vifio Fabric roller 1 stitchers 1 1-in. stitcher .1 Pr. 5-in. shears ... 2 Pr. 3 in. shears , . , 1 8-In.; crescent wrench 1 12-in. crescent wrench 2 Casing spreaders 3 Screw drivers 2 Scrapers 3 Wood rasps 4 Fabric knives , 9 Fabric hooks 1 Wire brush 1 Round nose plier 1 Pr. carpenter pliers 1 Pr. Bhoemaker pliers 1 Pr. adj. pliers 4 Sharpening stones 4 Miller wire spreaders . 1 Nail hammer 1 Rock hammer 1 Universal lug wreneh 3 Walden lug wrenches 1 Tire tool 1 Lane No. 4 jack 25-ft. armored air hose 16-ft. armored air hose 2 Air chucks 1 Rim tool 1 Rubber mallet 1 3-blade switch 7 Tube plate clamps 2 Tire racks 1 Work bench 1 Counter rl Section shelving 1 Office desk and chair .1 Wire handle wrenches ' 1 Gal. oil can New tires and tubes in cords and fabrics ' PUBLIC NOTICE The above articles will be sold separately, giving every one a chance to buy f just what you want. Terjns Cash. ? Owner. x Auctioneer. E A. Schweining F. N. Woodry, Blanks That Are Legal We carry in stock over 115 legal blanks suited to most any business transactions. We may have just the form you are looking for at a big saving as compared to made to order forms. Some of the forms, Contract of Sale, Road Notice, Will forms, Assign ment of Mortgage, Mortgage Forms, Quit Claim Deeds, Abstracts form, Bill of Sale, Building Contract, Promissory Notes, Installment Notes, Gen eral Lease, Power of Attorney, Prune Books and Pads, Scale Receipts, Etc. These forms are carefully prepared for the Courts and Private use. Price on forms range f ropi 4 cents to 16 cents apiece, and on note books, from 25 to 50 cents, . PRINTED AND FOR SALE BY The Statesman Publishing Co. LEGAL BLANK HEADQUARTERS At Business Office, Ground Floor.' i i 1 r t i ... ...