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SEytOTY-FQUgmYgAR'' . ..I. .. . I ' - ; SALEM', OREGONTHURSDAY MORNING, FEBRUARY 19, 1925 i j - : " h ' ; !' 'c PRICE FIVE CENTS
r
t
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Tf
SER'JIGE GNEII
B
Airplanes AVill Meyer, Assume
v Paramount ' ImRortancd,
- Coolidge Declares in Mes
sage to B ar d - j i r
BATTLESHIPS ARE HELD
FlfAL'ARS ITERS. AT- SEA
.Explanation of . Supplernental
Naval Estimates Made in '
Statement
WASIJIXGTO?!.: Feb. 18 Presi
dent Coolidge. added a new' chap
ter today to, the air service coni
, trorersy by making' public the re
port -of- a r special. naTal.t board
vhich found, that' battleships re
main "the final arbiter In-' sea
warfaB,"." and"" airplanes Would
never 'assume -paramount Importance.;'-
. . : . ' ; -:. '
The president also issued a for
mal statemen In explanation oi
the $30,000,000 : . supplemental
nayarestlmates recently -BnUmitted
to congress by the budget bureau
which were founded on recommen
dations of the. naval board ' but
sharply modified. ,The complete
building program subialtted. by
the board involved expenditures
of $80,000,000 a year for three
. years.-' '
Adopts rtoard' Views
The president makes np refer
ence to the board's findings as to
relatire military value of 'aircraft,
battleships and submarines, the
problem he assigned -it" to study
when he directed it be convene 1
last September. lie adopts the
; board's view, however, . that mod
ernization of oldbattleships (not
including, the, elevation of guns)
'is the first requirement, comple
tion of aircraft carriers and their
planes 'second; and construction f
. two ; tea thousand ton cruisers
third. The board's TjuildJng pro
gram was scaled . down by the
president 'all along the line, how
ever, to reduce the Immediate cost
from so;oor.ooF to f30,000,000.
The memorandum described the
president a "finding that an ex
penditure of that magnitude ($80,
000,000) -was not warranted at
(Cootia-id a p( 2)
With Calendar Jammed, US
'Senate, Devotes Time, to
Nfegro Swimming Hole
WASHINGTON. Feb. 18. With
Us legislative calendar jammed
and "cries df "filibustering" re
sounding, through the cloak rooms,
the senate today devoted almost
an entire session to discussion of
the advisability of a negrf swim
ming bole in Washington. ;
Objection' was made to estab
lishing a negro bathing beach In
the tidal, basin between the Wash
ington monument and the Lincoln
memorial and opposite a beach
, for white - persons. After - four
hours of debate and an Involved
series of votes, it was decided to
withhold fund for both tn negr?
and white beaches. 1
. The i senators paused in their
heated debate only long enough tj
reaffirm the previous ' action In
authorizing Increases" In their own
salaries and to give a few minutes
attention to the pending confer
ence on the ? "Underwood Muscle
Shoals leasing blir. i H
Senator ICorrli, republican, Ne
braska, sought to have the bill
carrying- the salary increases re
called from the louse and recon
sidered, but his effort was defeat--ed
on an oral vote and he was un
able to" obtain sufficient' seconds
for a roll call. .
Convention Measure Loses
1 In House By V;6te;of 37-18
, The - house yesterday " rejected
HB No. 10?, providing for. a pre
primary Convention by " a vote of
37 to 18. The proposed law,,, it
was held, did not conflict with
the present primary law. Passage
was urged , uponr .the; grorind:"th.at
the bill would not pass the senate,
but that, an xpressloirof sentl
meat la both houses was sought
In order to .'formulate a . similar
law in the future that would re-
xnove objections .mads to the bill
REPOR
riLlBUSTERIiJG
QCGUPIES DM
Cfrerea at this time.
New.
Naval Conference
ISj Ejected; Steps to
i Extend Treaty Taken
WASHINGTONV , Feb.' 1 8.'(By
the. AP.)-Definite, , if informal,
steps by the Wash Ington govern
ment are in) progress ; for . a '- new
naval conference to extend treaty
limitations to auxiliary craft.
Preliminary canvass in London,
Tokio andtRome are indicated' to
Jave met with-favorable reactions.
Success of the project appears to
rest ' upotf! the. attitude of Parts.
A conference on Invitation of Pres
ident Coolidge is a possibflity only
ir It can be found . that obstacles
of 1921.' which blocked the road
to complete naval limitation In the
original i Washington "conference,
have been removed.
The fact that informal negotia
tions were In progress B was dis
closed here 1 today after Foreign
Secretary r" Chamberlaln'Tn" London
had" dropped a hint " of them -. in
parllameriC TOfTicIils would not
go' beyond ' confirming that con-versations-'were
going on in capl
tola of all jowers signatory to 'the
Washington naval treaty.
BETIiTTEtilTIOfl
Measure- Creating Supervis
ing and,Conservation Com
mission Demands Place -
Re-enactment ofthe tax super
vising, and conservation commis
sion law of. 1923 Is being sought
by Representative Howard in the
33rd legislature, j The old bill was
held unconstitutional because of
a flaw in the title. .
Efforts were made by Represen
tative .Swan to have the minority
report,'" whic a was unfavorable to
the measure, tmbstltuted for - the
majority .report;" which, carried a
recommendation thai the bill pass j
Heated debates with repeated raps
for order; were ' held" ttefore the
minority report was rejected. The
bill- will take its place on the cal
endar. . ; . . .
Though,' unpopular in several
counties, the measure was declared
to have wrought a big savings in
others. Chiefly Multnomah. Clat
sop and Lane. Linn and, Tilla
mook, counties are against, the
measure, according to Represen
tatives Swan and Winslow.
' Representative Howard, sponsor
of the bill, said that when the bill
was first passed he was very much
against it, and, refused to accept
an appointment on the commission
in Lane county; After being prac
tically forced to take thei place hie
became interested and came to
this session of the legislature with
the bin: I The measure Is said to
have a splendid influence in tak
ing politicV out of tar levies, and
It was pointed out that those most
opposed to the bill, were member
of tax levying bodies.
In 1923 when the measure went
Into effect the commission of Clat
sop county cut the county budget
squarely in f two and all ' depart
ments continued to "function "as
well as ever, Representative Mott
said. The second year the county
budget was back at the old level
and no money was saved for the
taxpayers. ;
MOB MEASURES
EXPECTED TODAY
Appropriation Bills and Rev
" eriue Producers' May Be :
". Dumped on Solons
All bills calling for an appro
priation are expected to be damp
ed npon the legislature' today.
With few exceptions there have
been no- measures of this nature
offered during the session.
i Noi only have theappropria-
tlon measures been f kept in - the
committees; but air measures de
signed for revenue have - yet to
make their appearance. ;
Two measures'ot interest slated
for Wednesday did not materialize.
One of these, the senate bill, tak
ing the appointments of the fish
commissions from the - governor
and nutting it In the hands of the
board of control, was on the cal
endar' but was not reached. - The
other. Reoresentative Tucker's
proposed movie censorship-, bill.
lost, its place , upon ' the calendar
upon "requ'est of ' the sponsoir ThU
is expected to bring forth consid
erable oratory when it comes up
TIBIttlttL
for final passass.
It was learned authoritatively
the question" "of land armaments
is not Involved. ' r - . :
The' Washington government is
more anxious than- ever to . curb
competitive naval V building In
cruisers, ; submarines - and other
auxiliary craft Its effort to sound
foreign sentiment on a supple
mentary conference has not reach
ed the stage of formal communi
cations of any kind, although the
announcement 5 Ambassador j Kel
logg at London- would succeed
feecretary Hughes at the state de
partment gave opportunity to re
vive with, new force the diplomat
ic conversations that had preced
ed. As secretary of state-designate
IIr. Kellogg'a remarks In
talking matters over with London
government officials would x have
far greater "weight than his state
ments as ambassador, r : r
It is- certain no formal step will
be taken prior, to Mr, Kellog's re
turn. Measure to Prohibit Cigar
; ette Billboard. Advertis- .
' !' ing Loses in Senate
'.' '
A bill to prohibit advertising ot
- ;
cigarettes. On., billboards in the
state, met defeat In the senate
yesterday, by a. vote of )17 to 12,
with one absent. The I measure,
known as Senate Bill 119, was In
troduced by Senators - Kinney and
Garland, and came "up under spec
ial order of - business during the
afternoon session, t .' kL,
Senator Garland made a strong
plea- for the adoption of-the bill,
stating that., a.4tcrtlsenl used tthe
billboards as a direct attempt to
induce, the 'youth 'of the country
to , smoke cigarettes.' '"The . won
derful Ingenuity of the advertisers
is insidious," Senator; Garland
stated. "The pictures are execut
ed, by. an artist of, genius, and by
a man of skill. They are. vicious
by their very nature. In that they
attempt to show boys and girls
that smoking of cigarettes has no
evil! results on." physical; health..
"I am not intimating that smok
ing is wrong or injurious, and I
am not saying that a man, or a
woman for that matter, should not
smoke a cigarette ' if he br she
wishes to. What I olect to is the
placing of ; billboards depicting
athletes in the prime of physical
condition puffing cigarettes,- and
pictures of old men, apparently
in the full vigor ,of . youth, stead
fastly proelaming to the wfde
world that, as far as they ar con
cerned, they would hare absolute
ly no objection to walking a mile
rbr a smoke. ! i' ::v4 -"Such
things can not do other
wise than implant the desire in
the . minds, of boys , and girls " to
Smoke. The whole thing is done
by suggestion. And I want 'to
to tell yon that when otft young
people start using tobacco, it Is
only one step towards becoming
(ContlnnM on ysg 2)
People to Decide Whether
Seaside is to. Have Insti
- tution for Teachers
The normal - school question
came up tor consideration In the
senate again yesterday, afternoon
tBenllB No; 215 wa introduced
for third reading. ' I. .
i The bill provides .for the people
of Oregon to vote on whether or
not a normal school will be es
tablished in Seaside. It is stated
that that city ha made arrange-'
ments to donate a tract of land
comprising about four blocks for
the site of the; school. The bill
was passed with only six dissent
ing votes.'' T Those . voting ' "no"
were Senators Beals, Eddy, Hare,
Johnson, La Follett and Zimmer
man. ,
Senator Johnson . opposed the
measure on the grounds that' there
would not be enough pupils In the
city to insure proper training for
the teachers, and stated that the
same condition now existed in the
Monmouth school. Senator Clars
spoke In favor, of the bilL ' No
appropriations were carried la the
measure.
GARLlrJD BILL
GREETS DEFEAT
0
KAVUHED IiJ VOTE
MITCHELL TO
Brigadier. General of Air Di
f vision - to Be Summoned
Before' Executive" Today,
. Report States
ARMY AIR CHIEF NOT TO
RECEIVE APPOINTMENT
Will Be Given Choice of. Re
signing: and Accepting
."' Other Position I
WASHINGTON, Feb. 1$.-The
aircratt controversy . took 'an uh
expecfed twist, today when a report
was received by some members 6f
the house aircraft, committee, that
Brigadier General Mitchell, assist
ant army afr chief and central fig
ure In the '.row, would . be callsd
to the White House tomorrow and
Informed by President Coolidge
thathe would not be reappointed.
White House officials refused o
either deny or confirm the report.
War department Officials 'said they
had no , knowledge "of; the: matter
and an Inquiry at General 'Mitch
ell's office, brought the statement
that the; assistant air. chief, knew
nothing of.it. 'V '
'The' report as it reached coin-?
mittee members was that General
Mitchell would be given the choice
of either voluntarily resigning his
position or of accepting other ser
vices to which the war department
might assign him upon the expir
ation of his - term; ot office next
month. ' ' - 'f ' ' '! - .
These . committee members also
said they had been informed the
contemplated presidential action
was impelled by declarations by
Secretaries Weeks and Wilbur
that they would resign unless sum
mary action was taken- in General
Mitchell's case. -; ' . v.-u V-;-
. Both secretaries, when notified
of this aspect of the report, denied
that any such thoughts ? were in
their minds and Mr. Weeks went
further to call attention' at his' re
cent statement that--the war de
partment would take no action in
reference to General Mitchell: un
til, the house committee concludes
its investigation.
The report that General Mitch
ell, was to be reprimanded arrived
at the capitol while the committee
was considering in executive ses
sion the advisability of open hear
ings on th recent findings of cer
tain airplane tests. It had ordered
conducted , at McCook field, near
Dayton, Ohio. ; '
The startling nature, of the
Mitchell report caused an Imme
diate adjournment of the session
without' decision : of the "question
before the committee. ," -
The tenor of , the report was
conveyed . to the White House
where officials in addition to re
fusing, to deny or to confirm its
accuracy, made the informal state
ment that it had not emanated
from that sources f .-'
NOMINATION CONFIRMED
WASHINGTON. Feb, 18. The
senate confirmed today the nomi
nation of George Alexander Parks
to be governor of Alaska. He will
succeed ' Governor Scott C' Bone,
whose term expires-in 'June, f -
ASTORIA GRANTED . LAND
WASHINGTON. Feb.' 18. The
senate tonight, passed the house
bill authorizing the conveyance to
Astoria, Ore., of a strip of gov--ernment
land in that city. -
BEGALLEDTO
Portia Mansfield Dancers perform for
Packed House at Grand Here Last Nignt
Civic Music Clnb Attraction WIH Not Soon be Forgotten by Those
. . . - Enjoyed Unusual' Offering at Theatre" - , -
" -Ry ATJDRED BUNCH 1
The entire house was sold out
for the Portia Mansfield dancers
last evening at the Grand theater,
a Civic' Music club attraction that
Salem, will not1 forget. From the
moment' the curtain went up- till
tbu time . it.finallj;.rang ; down;
nearly two hours later, the audi
ence.. sat in willing entraneement
marveling that while not a singlo
word was spoken from- the stage
that " so v much " was ; said, epics
told," symphonies composed, love
stories lived, and moments of joy
breathed and whispered. Such ,1a
the language-of color and rhythm
i "pAs PreladesT, of Liszt offered
the -firstf of-the chosen compost
ttonsrfor , rnyt3micvlSTialization,
the : silent actors .taking their
places . against? an - intense blue
background stained with fleur de
fys which i for a moment burst like
some 'chrysalis to reveal theoe
exotic flower of the' stage. . ;
A storm of applause greeted the
TZRA SLEEKER TO " r
-Pf JOIN WILD WEST
! ' TROUPE, r REPORT
Oiegon Trail" RIaaer Signs Con-.-'
tract to Tr! Ox-Team in
Traveling Shovr '
- SEATTLE, Feb.: .18. Ezra
Meeker - 94, Oregon" trail blazer
and' pioneer of . Washington, an
nounced "here tonight he had
signed a contract! with J: C. Mil
ler,; former proprietor of a. wild
west show, to join' a new traveling
wild west company scheduled to
leave Oklahoma City April 22 for
a tour of the United States and
Canada. -1
The contract provides that. Mr.
Meeker drive an ox team similar
to the tone in which he and his
bride crossed - the plains to the
Qregon country maajr years ago.
' Mr. Meeker said he intended be
fore leaving Seattle in ' April to
campaign for the photographing
of the route of the old ' Oregon
Trail" front the air by
aviation service.
thy army
i Last' year Mr. Meeker flew from
Vancouver, Wash.; to Washington,
p. C, ? in an airplane piloted ' by
Lieutenant Oakley G. Kelly, army
t viator who figpred In the 1923
non-stop transcontinental flight.
FORESTRY BILL
: LOSES 1
SE
Proposal for growing of
I rees on Logged-ott Lands
; Loses in Hard. Fight
Reforestratlon bobbed up again
Wednesday and after a hard fight;
lead by Representative Mott, the
proposed legislation was defeated
and HB No. A 16 discarded. )
.The bill provided "that owners
of logged-of f lands that are .better
adapted to tree-growing than ag
ricultural purposes, could be class
ified by the state forester as re
forestratlon' lands and a contract
made for 60 years, during which
time 'the owners would be requir-.
ed to keep 'up fire patrol and in
surance eosts and should obtain a
Zi- - V F 7 - nrneep tonight in peac:-
period,; Estimates . upon the tim
ber produced would be made, the
timber to ' be re-valued every 10
years in order to provide a" just
valuation upon the tax rolls. One
half of the taxes would be paid
from year toj year and the remain
ing half of the taxas being defer
red to the end of the contract per
iod, i -
In support of the bill Represen
tative Mott said the 65 per cent
of the total payroll of the sute
was dependent upon the timber
industry and that Clatsop county.
Lthegreatest timber county of the
state, received 75 per cent of its
taxes : from lumber. Estimates
have been made that the standing
timber supply will be exhausted in
15 years. , Owners of denuded for
est lands are unable to reforest
because of the system of taxation.
Timber, is assessed from 80 to 125
per cent of its valuation while
other property Is assessed between
15 and' 20 per cent. By the time
the crop matures, taxes have ex
ceeded Us value. . - ?
Owners: remove the timber by
the Quickest; and. cheapest meth
ods, which are the'most, destruc
tive, he declared. ; 'X.K?t ' ' "
, Another measure, providing for
the assessment of lumber? or timber-,
products was challenged upon
the grounds of being constitution
al" though a favorable opinion-had
been rendered by r the attorney
general. The measure, - HB 'No;
441, would enable?" counties "to
. . . '. . .,.. t
check lumber-removed ffom gov
ernment lands and assess this
assess ,
monthly.' r
second'" triumphant scene,
i - de
piction of - the celebration ' after
the Saturnalia, chariot ' racing
discus', throwing. hurdling and
wrestling, all 4 with - astonishing
grace -and breath-taking agility;
which ' gave unforgettable r inter
pretation to Rachmaninoff music,
r Country 3 Gardens : by u Percy
Grainger was a v(vacious and Joy
ous f Itrtatlon with the maiden" in
a costume like' Golden' Glow.
Chanson Arabe gave eerie scenes,
incomparable actings, 'and left an
audience as enamored as the c$
ors.' Pi ! J-tft;? r. ': i 1: 1
A weird tree with weird, fruits
against mterlously; veiled, dis
tances lent the charm of atmos
phere to Schubert's- "Unfinished
Symphony" the fruition ot eter
nal jor. " ' " v -" ' 'i '
- Walts -Fantasy," Furlana, anl
The' Silver Hoop 411 followed, and
the audience would willingly hav
seen it all over 'again 'from the be-
(CostisaeS (a psgt 6)
1-one Doctor and Nurse Who Fought Diphtheria at
Nome While Dog Teams Brought Life-Saving Serum
4
i
r
i
S :
6 - :
y
ft
K 5
' w'- V
.. . ..... ...A
Above are shown
ur. Curtis
Welch, U. S. Public Health Officer
and the' only- physician' in Nome,
and Miss Emily Morgan pt Wichi
ta, Kan., the 'Only Red Cross nurse
in the stricken Alaska settlement.
She is In"ch4rg'e'.:'af"tne' hospital
whe.re the victims of the t'Black
Death" epidemic , are being , treat-
TOMB SEALED
QVERGOLLIKS
Explorer Sleeps in. Peace in
Same Cave - Where He '
Was' Buried" Alive
CAVE CITY, Ky.. Feb. 18.-
(By Associated Press.) Sealed in
his perpetual tomb, Floyd COHine
Buried alive, he endured for
days the terrifying solitude prob
ably, praying, he would somehow
escape the impending doom. , Un
able longer to withstand the tor
tures, of body and. spirit he died
alone trapped in the laws of cav
ernous earth. ! V
He met.death camely, his teeth
set..' A few, hours, or maybe a day
or, two after death had ended his
sufferings, rescuers broke open
his. sarcophagus. '
...Plans were made to bring out
his body, bat mother earth, ho
had blocked " every effort' to get
Collins out alive, club to him.
The caverns he knew and. loved
so well became his crypt. With
simple funeral services yesterd.y.
his body was resigned to the cave.
The 1 climax was reached Mon
day with the finding of the body.
Th'e epilogue was written today.
The booming of detonating dyna
mite; the' dull thud of huge bould
ers; loosened from the century old
bed on the desolte hillside as they
tumbled in and "elbsed the new
pit, was the drawing1 of the colo
phon of the heroic work of the
rescuer. -:'T'",f ;ry '
A few flowers strewn about the
mouth of Sand Cave, a few spec
tators wandering aimlessly' about,
today had replaced the mechani
cal equipment and the jaded work-
ers of yesterday 9 f '
10WS OUB RICH
WW, HE SAYS
Dr. Morris Says Correspon
'dents''r Agree" With Him
and tne Slogan Man '
'Slogan Editor the Oregon
Statesman' Salem. Oregon Dear
Sir: Thank, you' for the copies
of the Oregon . Statesman one - Of
which contains excerpts from one
of my articles in the American
Nut Journal. ;
"A number of ' correspondents,
SOME OF THEM NEWSPAPER
MEN, agree with you and with me
in ' regard to ; what would' happen
If the newspapers' would give one
half the space to matters of agri
cultural importance that they give
to crime. '- . V---'-' ' !
-"Incidentally I know your Wil
lamette valley and consider It to
be wbnderfully rich agriculturally;
Tours 'truly; ;:- ? t:;''- 'H-r"
"ROBERT T. MORRIS:
No. 114 East 54th St.; New'Tork.
Feb. 1 1; 1925." '
1
(The reader will remember that
in the article' of Dr. Morris Yefer-
red to he' spoke of the new fron-
V
t
X"
: v.. ..... .
r" ' .
" ' ' v
ed. Together they aave been
fighting to keep' clown the" death
list until Ih'ey.' received the ' liew
antitoxin which was' lushed, T00
miles by heroic muehers and their
dog teams. in. stormy weather . that
brought, temperatures, of j 50 and
60 degrees-below zero.
msm
Oil MArJY BILLS
,-rca ii
fourteen House and Thirteen
. Seriate Measures Report- '
' ed Favorably ;
. Fourteen, house and, 13 senate
bills passed i through the house
yesterday with favorable action
being taken.-j One -measure failed
to obtain the constitutional, ma
Jorify and four; were re-referred
and no action taken during the
day." - -.- ' ' ,
: Three measures pertaining to
paroles and : pardons were with
drawn. Representative Bennett re
calling HB Nos. 29 and 270, cre
ating a parole board and amend
ing the parole law relating tothe
power of the governor to grant
reprieves and pardons. Repre
sentative Hurlburt withdrew HB
No. 372, pertaining to ; pardons;
paroles and commutation of sen
tences. '
Measures passed -bjr the house
yesterday included the following
house bills:
Assessment and taxation of
transient livestock in eastern Ore
gon; allowing . an appeal to the
board, of control from tax levied
made by counties and municipal
corporations,' - limiting the " levies
county assessors to complete and
deliver tax rolls to the tax col-
(Cnntloaed en pag 2)
MArjV "PROTESTS
ON FARM BILLS
Extended Hearing May Be
Necessary Before Meas- ;
ure Is Cleared Up
WASHINGTON, Feb. 18. Fur
ther extended hearings by the sen
ate agriculture committee on the
proposal for creation of a federal
cooperative marketing board may
be necessary, because of J the "av
alanche of protests'" which : has
greeted " the pr6posal - Chairman
Norris today told . the senate. In
announcing the continuation of
nleht sessions of the committee.
Similar legislation which em
bodies the major recommendation
of the president's agricultural con
ference already has been approved
by the house agriculture commit
tee and leaders in that chamber
hope to bring it up for consider
ation th is week. . ; ," Z
; Chairman Norris would not pre
dict today how long the senate
hearings would' continue. V, ' 1
Opposition to federal supervis
ion of cooperatives has come from'
all sections of the country Senator
Norris said. '
The treasury took the first, step
today In development of the March
financing program. Secretary Mel
lon announcing that ' redemption
of securities maturing March 15,
Including certificates' of. indebted
ness designated as series TM 1925
and the three year, 4 ir per ceit
notes of 1925 would be started to
morrow by; the ' federal , reserve
basks, '
AGIO
BHdOEGOBE
PASSES KDUBE
IIS BUTTLE
Senate Measure, Brings
Changes in Present Law
and Is Approved By Bank
ers' Association 1
THREE YEARS' WORK
PRECEDE ITS DRAFTlfiG
State Committees Spend Bluch
. Time in Study of Needs
"and Remedies
Changes in the state ( -banking
code,' as approved " bf' bankers,
tfust c'ompa'nles'ahd the American
Banking association,, wer adopt
ed Wednesday by the house of
representatives. The measure is
known as SB No. 54. '
Segregation of capital between
the i commercial - and1 savings de
partments "is ; provided for the
greater protection of depositors
and to avoid complications which
have "arisen s In connection with
the liquidation of insolvent' banks
under the present law. Under the
new law no- bank will be chartered
with "a capital stock: of less than
$25,000 in towns having 3.000
inhabitants or less." The old law
placed the capitalization at $15,
000. ' -' - . - - t,
' Property Clanse Inclnded
The new act provides that any
bank may' invest up to but not
exceeding f75 "per cent of its capi
taT"ahd Surplus in, banking, prem
ises .and fixtures when1 the build
ing Is not owned by the Institu
tion, or 25 per cent of this sur
rlus when the building is owned.
Under the? old law a" bank could
icrest,50 per cent in-bank prem
ises, but there was no- provision
as to fixture.- After five yeara -no
bank; can ;"hold real estate In "Its
assets except that which it occu
pies for the 'purpose of transact
ing Its business. J0 person will
be eligible as a bank director un
less he is a citizen of the United
States and at least a majority c
the directors must be resident!
of Oregon. ' Directors must mee
once a month instead of quarter-
iy.; - r
Loans. Remain Rome '
Loan limits "remain fixed at 20
per cent of the bank's capital and
surplus.' The new .law- restricts
any bank or trust company froti
engaging directly or indirectly In
trade or commerce. No loans will
be made payable to officers, di
rectors or agents of the Institu
tion. ' ..' ' '
J The new law gives the state
superintendent of banks the
authority to remove any officer
or director who may be found
"to be dishonest, feckless or in
competent, or who refuses to cord
ply with the law or the rules and
regulations of 'the state 'bahking
department." ; ' ' - ' '
powers and functions of trust
companies are made more respod
sible in the investment of trust
funds, all trust ' companies quali
fying under the act are required
to deposit cash or approved bonds
in the sum of $50,000 to guaran
tee faithful performance. In the
event of any violation the deposit
is available under the law, to be
(Contintuid on vss C)
WEDNESDAY
INVHINGTON
.The house refused to accept the
senate postal pay bill In place of
Its own measure.
' .4
A $10,000,000. Veterans' hospit
al bill was reported by the houau
Veterans committee. , ' i :
The senate confirmed the son-
mation of William M, Jardine cf
Kansas to be secretary-of agricul
ture.; V' ; i "..;" . . .
The senate voted against recon
sidering the legislative appropria
tion bill carrying salary .Increas e
for members of congress.
Reports at the capitol that Er"-
adier General Mitchell would 1j
Summoned to the White House to
morrow could not be confirmed. :
Chairman Norris of the szz: n
agriculture-' committee exprc.
fioubt his committee woull !
time to consider fully a coc; .-
ative marketing' till.
A special raVif beard rc;-r: '
that the' b3tt!:sbfp rem!.:
final trT.'ter i i t v :rf-ra t "
that tie fcU.:-3 v.-cull i . :
83tte raraircr-t ii.-j;rt: