8
THE OREGON STATESMAN, SALEM, OREGON
WEDNESDAY MORNING, AUGUST 20, 1924 ""'v
V
HGUS TODAY
;7
111 ITS GLORY
youth Today .Will Have a
Gala Occasion
Today comes' that gala event
that makes old hearts beat young
ant young hearts beat faster the
circus!.'- '' !
f It Is a far cry from the gladia
torial contests .staged in the Ro
man Coliseum by Augustus, down
through the ages to the present
huge tented Spectacle of human
and animal skill and daring, as
presented by Mr. Al G- Barnes-p
"but there is still the same deep
human interest in the exhibition
that has kept it alive for centu
ries. In spite of the fall of em
pires, and ( the passing of dynas
ties. ' ..' : r;
Fifty-two especially construct
ed cars, each 70 feet long, will ar
rive at an early hour this morn
ng, bringing with them the 900
persons who constitute the ensem
ble of the Al O. Barnes cirens.
Using that super-efficient method
which has been studied by the ar
mies of the world, a trained crew
within a short time will have er
ected a tented and gaily bannered
city, on what was previously a va
vant lot.
: Two thousand years ago the
lions played an Important part in
the old Roman circus. At that
time they were turned loose into
the arena to devour those who had
displeased the ' emperor. Today,
the tnighty kings of the jangle,
educated by kindness and trained
by the superior" human Intellect,
will "be seen In a large steel arena,
demonstrating the unbelievable
wonders that can be done with
"cats' -? who are well Jfreated and
properly handled.
Elephants? Realizing that these
wonderful beasts form one of the
keynotes of any circus, this, organ
ization is bringing with it a herd
of 14 of the largest, bst- natured
and cleverest pachyderms in Am
erica. Their little eyes twinkling
with pleasure, they, go through
their daily performances with the
real pleasure shown by all artists,
lending to the various scenes in
which they appear that real circus
atmosphere of the bizarre.
-; Horses ? Over 550 came with
the Barnes organization ranging
from the huge fat and sleek draft
animals down through the grace
fully lined, patrician and pedl
greed performng and dancing hor
ses, their coat! proudly gleaming
from constant grooming: to the
shaggy and chubby little Shetland
ponies so beloved of children.
And so on Indefinitely through
the marvels of the Barnes organi
zation, with its strange birds and
beasts from every land and clime.
But nothing said of the circus
would be complete without men
tion of Joe! Martin, the gorilla
m&ttv-known throughout the world
for his martelous acting in mo
tion pictures- Joe, accompanied
by his wife Sally, is the feature
of the menagerie tent, and his
large cage, equipped with various
apparatus for his pleasure, is the
Mecca of all circus goers.
And the spectacle! Pocahontas
and ' her touching rescue of John
Smith from the hands of the fren
zied Indians is known to all Am
ericans, but the subsequent events
are not so well known. -Pocahon
tas was taken to the court of King
James and Queen Anne, and there
crowned as f the first American
princess for her gallant deed.
Because of ; the magnitude of
this proposition of "Pocahontas at
the Court of Queen Anne" it has
been found necessary to elminate
the morning parade. The mam
moth setting for the scene from
the court of. King James, and the,
preparation of the lighting and
other scenic effects require the at
tention of the entire company dur
ing the entire time, usually given
over for morning review. Those
who-see the production will agree
that "Pocahontas at the Court of
Queen Anne" is well worth the
necessaryacrifice, as it 4s so dif
ferent and unique that It cannot
be compared with anything ever
offered by any previous circus.
In the afternoon, the doors open
at 1 o'clock,' and the performance
begins at 2,- In the evening, the
opening Is at 7 o'clock, the per
formance starting at 8. . s
Lions Club Experiences
Indifference at Silverton
SILVERTON. Ore., Aug. 18.
(Special to The Statesman.)
Representatives of the Lions' club
have been at work at Silverton for
the past few days trying to ef
fect organiatlon. Some of the Sil
verton business men have shown
interest while others appear en
tirely indifferent. A. O. Nelson
was elected president, Carl Ben
son, vice president, and Charles
Reynolds, secretary. It Is said
that the officers elected were not
present and it is not known yet
whether they will accept. I
, - t ' : ;
What a world of power in the price.! The strength is
in their littleness. We get cash for goods and give you
the best goods cash will buy. Look these honest values
over and let Damon be your Grocer today.
Bath
Soap
A3
m - areata pill OSe
' r - . . .
icoitgalote .t . 2Mb
Darcafi tianillaj ff Sis
iMeaaw". . 75c
.. . j
(9pgGolls, pound 2e
ill
U
9(JV LOW
O PRICES
no
REUT i
Fresli Meat Groceries j Vegetables
CDD NORTH COMMERCIAL STi .
Two Hundred Present
V;, At Open Air Services
SILVERTON. Or., Aug. 18.
(Special to The Statesman.) Two
hundred persons attended the
open air services and Sunday
school' picnic held by Trinity con
gregation at the city park at Sil
verton Sunday. Services began at
10 o'clock with the usual Sunday
school session. This was followed
by a sermon delivered by Rev.
Theodore Hokenstad of Bremer
ton. Wash. The afternoon's plans
were curtailed due to the rain
which set in shortly after 2 p. ra.
1 CL0VERDALE A
. . ; )
Mr. and Mrs. W. II. Wilson and
nephew Orville Thomas spent Sun
day in Salem with Mrs. F. A.
Wood and family who returned
Saturday from an auto trip
through Missouri and Kansas
where they have been visiting rel
atives for the past few months-
Mr. and Mrs. Victor Filflet and
baby from Washington are visit
ing their parents, Mr. and Mrs.
M. Fliflet for a few days.
Albert Hennls and sister were
shopping in Salem Friday.
Mrs. Alice Wiper left Saturday
for the seaside to spend a few
days: . ;- u :
Mrs. W. F. Wright le&t here
Saturday morning for Newport to
visit her daughter, Mrs.. Delia
Blaco- Mrs. Wright was to go on
the trip with her granddaughter,
Mrs. Clyde Comstock and family.
- . . j
Bust of Washington Lost :
Seventy Years Is Found
NEW YORK, Aug. 18. The
marble bust of George Washing
ton presented to the United States
by France and thought to have
been destroyed In the fire which
razed the congressional library in
December 1851, has been found
after more than 70 years. :(
Mitchell Kennerley, art collect
or announced today he had found
the relic in an obscure marble
cutter's establishment in Man
hattan and disposed of it to Henry
E. Huntington of New York land
San Gabriel, Cal. : i . r.
PORTLAND BANK IS I
HELD RESPONSIBLE TO
KING INVESTIGATORS
(Continued from page 3)1
company which was part of j the
plan to cover up 2877,600 of its
indebtedness. . l j-
Had the true indebtedness of
the company been disclosed in the
minutes of the meetings of: the
two companies' at the time of the
submission and acceptance of the
proposal to sell it would undoubt
edly have attracted the attention
of the state corporation commis
sioner and prevented the company
from securing a permit to set) its
stock. The situation was met by
the Ladd & Til ton bank, which
held about $868,000 of the indebt
edness, and- in this way; It took
the following notes:
F. N. Clark ........ $235,700.00
E. A. Clark 235.700.00
M. and R. Wittenberg 150,000.00
2. Ladd & Tilton . . . . 76.200.00
3. Other obligations. . 180,000.00
; : . f - 1877,600.00
Debts Assumed r '
1. Ladd & Tilton 1246.570.07
2. Other 244,817.27
$491,387.34
Debts paid ....... .S77. 600. 00
Debts assumed ...... 491.387.34
Total ....8621,100.00
This money purchased 6214
shares of preferred stocks in: the
Oregon company. The stock was
taken by the bank as collateral
end exchanged for etock in the
Delaware company which was sold
to the public for $776,750. The
selling agents retained $155,350
as commissions and paid $621,400
to the bank. This latter amount,
together with a new note for
$246,570 taken, from the' Dela
ware company, retired J the; ld
obligations , of the Oregon, com
pany held by the bank. --
The total debts paid and assum
ed were as follows:
Debts Paid i l
1. Ladd & Tiltdn ...$621,400.00
20
SALEM
Wednesday, August
Grand Stand Chair Seats on Sale
,at Patton's liook Store,'
Important Notice .
THE SHOW THAT DIFFERENT
f ri GREAT -4 RING
WILD ANIMAL
Owing, to twc
UNUSUAL ATVUDUrJT
or PiLKP9.4tKricDr4
imeic.es sar' ron.
TV4C PRESENTATION
v Or THE
massive:
5PECTAC
m a.Jv
lJrvi ANID OUR.
AT detsirc to STArrr
TMC lEIVOW4A.rsCEL
OaorvA o-r t v ' ;
NO : j j .
STREET PARADE
WILL B GWEKl
THIS" YEAR.
; i $1,368,987.34
' Item No. 2. under Debts Paid,
covers notes of the old company
in favor of Multnomah Lumber &
Box company, Stettler Mfg. Co.
and American Lifeograph com
pany. These notes also appear to
Lave been held by Ladd & Tilton
bank. " '
Item No. 3 above, covers cer
tain obligations of the old com
pany; which had been assumed by
Mrs. jWittenberg also certain ad
vances made by her to the com
pany This item and the $150,
000 note of M. and R. Wittenberg
to Ladd & Tilton bank was paid
out of the $330,000 heretofore re
ferred to. ' ji '
The sale of this stock was initi
ated j by the Dundas-Martin com
pany! and completed by P. N. Clark
& Co. These cencrrns had in
their employ a flock of high pres
sure salesmen, moBt of whom were
without honor and without con
science. They appear to have been
carefully schooled in the art of
separating the unsophisticated
from their money They had defi
nite j instructions ' to get it, and
they got it. They seemed to have
had 1 a peculiar sense which led
them to people of small means
who had a liberty bond or savings
account. Neither widows, servant
girls nor cripples were overlooked
by them.
They carried photographic cop
pies j of letters of commendation
from Ladd & Tilton bank and the
First National bank of The Dalles,
addressed to P, N. Clark and com
pany. These letters were couched
in language which could be used
as an alibi in case of disaster, but
nevertheless served the purpose of
the promoters for they, coupled
with a prospectus setting forth
the fact that S. L. Eddy, vice pres
ident of the Ladd & Tilton bank,
F. A. Douty of the Multnomah
Lumber and Box company, and
other men of prominence and sup
posed financial! standing were on
the board of directors and were di
recting the affairs of the com
pany were enough to convince the
uninitiated that they were placing
their savings In honest and com
petent hands and that their inter
ests would be properly protected.
It appears that 18,707 sets
of shares of stock have been sold
and Issued as follows:
17,707 shares preferred at
$100; $1,870,738; 18,798
shares class A' common at $50,
$935,367; total $2,806,100. Less
selling cost $30 per set, $561,220;
balance, $2,244,880. ;.
As certificates were often sold
on the installment plan and not
issued until paid for there were
sales made which are not included
in the above figures. The partial
payments made upon sold but un
issued certificates should be added
to the above amount given as re
ceived by the ; company. The
amount of commission paid to the
selling agents upon this sold, but
unissued stock 'should be added to
the; selling cost figures given
above. 1
Of the above amount, $2,2 44, -880,
received by the company from
sales of stock; all but $876,000
went to acquire and pay the debts
of the Oregon .company. This lat
ter amount was spent for adver
tising and market development, in
fact the financial statement at the
close of business on May 31, 1923,
shows $1,140,000 spent for mar
ket development.
We are advised that the com
pany has at this1 time outstanding
debts of about $900,000 and that
the assets of the company are in
the hands of a, trustee appointed
by the creditors
There was tp have been a meet
ing of the stockholders of this
company on May 8, 1924, but as
they were widely scattered In
three states there was no, quorum
present. Those present, however,
after a discussion of the affairs of
the company brought about the
appointment of a stockholders'
committee; also the resignation
of the officers of the company
Wi G. Gunther of Portland was
elected president to succeed E. A.
Clark.
The stockholders' committee, af
ter an investigation of the com
pany's affairs, gave the following
as some of the reasons for the
failure of the company: t
jl. Excessive costs of financing
the sae of stock by the Dundas
Martin company. . j
2. Excessive costs of advertis
ing and the marketing in smalt
packages of dehydrated products
instead of in bulk. . j
: 3. Production costs of the Sa
lem plant. The plant being op
erated at only 50 per cent of its
capacity; resulting In an overhead
out of . proportion to the . goods
produced. : :sH'' ; ' -I
4. Excessive cost of maintaining
offices and officials. - j
5. Poor judgment by the man-f
agement in an endeavor to place
on the market' dehydrated goods,
which do not sell, instead of con
centrating on canned goods.
: 6. Failure on the part of a large
number of subscribers to complete
subscriptions.' f
We do not find that the new of
ficials have been able to accom
plish anything which would be
to the Interest of the stockhold
ers. ''-I'-'.- -' ' . ' J: I
I The Ladd & Tilton bank can
not escape responsibility, for the
loss that has beea brought to the
THESE
VIRGMWOOL
i TWO-PANT
SUITS
Are the T&Hi
of Salem
We've been telling you about these two pant
suits for the last few wcjeks. From mow on
they'll talk for themselves. We. have sold several
hundred of these suits, and each man that wears
one is a strong booster. He likes them because
there is no old reworked wool in them. He likes
them because there is style, fit and good appear
ance to them. If you haven't seen them you
should do so soon. M
Two Pair Pants
Our Shirt Sale Is Still Going Strong
Lot 1 I Lot 2 I Lot 33
Fine Percale
Materials
95c
3 for $2.75
Fine Corded
Materials
$1.45
: 3 for $4.25
Virgin Wool
Shirts
$3.75
Reg. $5 Vafues
i I
: i 't:
CLOTHINQVOOUgsr-MLLig STORE
doors of between 5,000 and 6,000
Innocent purchasers o(f this stock.
The $2,800,000 taken from these
people represented many hours of
toll and self denial.
k The King's Food Products com
pany of Oregon was a defunct con
cern and hopelessly in debt when
the bank undertook its reorgani
zation and the sale of its stock.
The greater part of the money de
rived from stock sales went to
pay stale obligations of the old
company, held largely by the Ladd
& Tilton bank. The management
of the reorganized company was
placed in the hands of E. A. Clark,
who had neither the : experience
nor the capacity necessary for the
successful conduct of Its affairs.
In view , of the situation there
is only one honorable course for
the Ladd Tilton bank to pursue,
and that is to return to the stock
holders every dollar taken from
them. That they are both morally
and legally liable for the return
of this money there is no' shadow
of a doubt, and we trust that they
will promptly realise their obli
gation and make restitution. .
Should, however, the bank take
a different view of the situation
we woflld respectfully suggest that
the attorney general be asked to
render the stockholders Such ad
vice and. assistance as f may be
helpful to them in the recovery of
their money. ;
Stockholders' should be warned
that they will be approached bjt
many solicitors, who will endeav
or to collect'a fee upon the prom
ise of a recovery o' the money
lost The employment of such,
people is unnecessary, and will
only prove an added loss.
Respectfully submitted, '
(Signed) J OSWALD WEST,
;! GEO. BLACK.
' r ' Committee
: .. The
Great
Statesman's
Contest
Why Not Let Your Vacation this Summer Include a Trip to the
, Seashore at Expense of the Statesman Ifablishing Co.?
THE OREGON DAILY STATESMAN offers j for the next three -weeks one of the
up-to-date Popular Voting Contests, which will eclipse anything of its kind ever
conducted in this city. There will be ten trips to the Seashore given absolutely free to
the ladies of Salem and surrounding territory. ' The ladies winning the above prizes
will never regret a little work. Any lady or girl in Salem or surrounding territory
(Marion and Polk counties) has the privilege of participating in this contest. All old
and new subscribers paying their subscription (new, renewal, or arrearage) are given
votes which they can cast for. their favorite candidate, according to the table of vote3
published in this announcement. The winners of these prizes will be the women of
greatest energy, most extensive acquaintance and the best organizing and hustling
abilities. Send in your nomination at once. Costs you absolutely nothing. The
sooner you act the better your chance of sucess. Names of candidates published m u
few days. " 1 ' j .
VACATION AT THE SEASHORE
Leaving Salem on Monday, September 2nd, the party of ten ladies in charge of a
competent chaperone, will travel by auto over the most scenic route to the Seashore
and for one week enjoy one of the grandest outings any; pleasure party ever experienced-
all at the expense of The Oregon Statesman.
I