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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (Jan. 1, 1926)
n FRIDAlTIVIORNINd; JANUARY: t; 102G : TIIBOnEGOaTATESMAN, ALESf, OKEGON . If 9 J9 s WW J i r- .::7 l lJli.nTr balem . i i ui,im, i rom iviany s i ons capacity uown to japia express i ype, Are usea sqy i-ocai mcruwuw, l-vwo, fT?' , . o ' u. P;fk ir fr.,. PirvV CityU AuliaW Bus Seice Fills1 in Owners Who Have Been Attracted to Outlying Sections by :eries to Its Present Importance;' Should Be .Recogniied as Increasing Tirade ': Future Growth With Resultant Increase in Real- Estate Values Automotive Industry, Rising in Less Than 20 Years Is ! -t . '--T V' - -' - -f ' y -..-- .... ..... .. - - - - .. r- : ' " - "" i ,,., ,. . ,, , - n . ' r-- . . - - ' H i HI. J ... . , . . , , , I ., I II I ! ' .... J., I I ' " 1 I - : ... - - - I l I nr ' ,77 - .77 (uom -TJ-- VTi jTfl TVTi 1 JLU 1VJL VU UiLMslllLil, It J If . II It ! -! 'Annual Review of "Transac ' tkins fPublishedr;Shows K r trm Money jvlarkct ' - NEW YORK ( By v The Awjo . elated Press.) The flow ot A trier lean cftpttal in t foreign and do mestic Investments, comprising loans for gorernments, municipal ities, and corporate enterprises, reached unprecedented propor tions in. 1925. While accurate compilations are not yet aratlahlc prelthilnary. estimates indicate that:the total ot capital flotations eclipsed last year's record ". of slightly 'more : than $6,000,000,- oeo; - - .a' . . , . v For the second time in history, Amtrlean investors poured more thurj a billion' dollars 'into for eign loans during' the year, equal ling if not surpassing the 1921 . rec-d of approximately,' 11.200,- ' OOO.OOOv-' jProductire . enterpf ises claimed aibout $350,000,000 of the total, the gain in this type of business offsetting a moderate de cline In! government borrowings. -- America's ; commanding : posi tion as 'lender to tho-world also , -was stialngly rerealed by; the es tablishment of huge- private cred its to help In the stabilization of foreign currencies.; Fortified by the possession' ot enormous gold tocks.s "American j. bankers "set fcside $200,000,000 for tho pro tection ,of Great Britain's return to the gold 'standard and advanc ed .many; millions additional to ensure the stability of the Belgian nnd Italian currencies prepara tory (to their re-establishment on a gold basis. " Activities In the field of new financing overshadowed in Inter est the dealings in the bond mar ket, which failed to equal those of 1924, in breadth and volume. Prices, however: were maintained on a higher level throughout the year. The, upward movement which was in full swing as last year drew to.Aclds was carried over in 1925, 'reaching its peak in the spring: Thereafter a grad ual tightening , ot. money rates caused' the pace v of trading to slacken and -prices eased off sev eral points from the top 'although . still holding several .points above .notations of a year ago. ' Several factors contributed to thct market's loss of animation. For one thing, bond trading lick ed the impetus which it derived in 1924 from three reductions in the New York Federal Reserve rediscount rate. The only change made this ' year was an advance from 3 to 3 per cent in, Febru ary, and its effect was seen short ly afterward in the downward trend , of bond prices. Toward the close of the year the market labored under growing fears thati "the New York bank would follow the other 'Federal - Reserve institutions-in establishing a 4 per cent rate. . - No less potent than the banlci t.ta m1tni(fn was tho. tflnr1anvV of surplus funds to seek an out- V let in : the more speculative v field , of stock trading. The call loan H reservoir was "filled . with. Idle money, most of which was sent here for . placement i by . interior banks. The higher discount rates i put into effect, by banks outside 4 :NewV;York, in the fall attracted some of it home, but not juntii it had been ' utilized as one' of the factors -to -carry speculation in stocks ' to unparalleled f heights. These spectacular - operations, : coupled with the 'steady flow of new. offerings inviting lnvestmeht. SEASON'S ; GREETINGS - ' ; " ;fiei7':'Car. iPiUr.ir.I LIOTOR CO. 1'AIGE-JEWETT . 3 49 S. Com merciai Telephone 953 . (f. acted as - a . counter-attraction ' to the bond market. jV t i Although, fjl .many substantial gains were recorded during, the year,, the . ro arkcV lack ed ;t he V id e price movements which feature the recovery . ot.jnauy speculativp bonds In the preceding year. Ob-i ligations of one southern railroad,' which .carried unique warrants tq purchase stock in a Florida land company,, soared" almost ,100 points before they were retired and ' a ,t ew convertible rail antj oil bonds moved , up ' 20 to 30 points in the wake of advancing prices for . these -. companies: shares.... The only sharp break in prices took place in the . bonds of the Chicago, Milwaukee . '& St. Paul r ... . ' -. irfwjiv. ".. - , BIG SIX; STUDEBAKEIi V v .... v. i.1 1 1 I5M i .-I t ... -. railway when financial disaster overtook this " northwosternTsyB-" tem. Overburdened with a fund ed debt of some $400,000;000 and facing maturities-of $30,000, 0Q0, the road waa forced: into rj cenrership in March and its ; se curities plunged to jre-cord low levels,.- Recoveries followed ths drafting and subseiuent- niodU catton of -a reorganization piftn; providing for: a drastic - seal ins down , of fixed -. t interest, eharKes and foreshadowing an "early re storation uf the road to jl ' sound financial footing. i : 4 The' St. Paul receivership threw more than 3230,000,000 of bonds into default but the amount of in dustrial issues, unable to pay in terest was reduced from.Sl24 000,000 to about $100,000,0 )0 during the Jyear. More .. thapif 170.000.0CO were lifted from de fauUwhIe 35,000,0051 were added to the list i . The broader demand for foreign securities in 1925, embracing both listed bands . and new issues, re flected the gTeat progress made'iq the economic, recovery .-.of te world, particularly of EnTopean nations. l.Two of the Scandinaviai countries-rNorway and yenmark so Improved their financial sfructures, that ''they' 'were able td . Chet- Starr Frank, Whittemore 3 Starr &' Whittembre General Auto Repairing V- : Official I jglit: Testing Station 3 343 Ferry -St, ',7 Phone 530 V . .7--':x''.?- 'it 1 v -i - - r z OverlmdzWillusKnigJitOaklah MASON TIRES ATAVATER KENT refund large loans at Substantially lower interest rates. . -t UnoCl-(ai embargoes. orCl orelkn loans both in this country and Great Britain exerted a consider able influence on the size and char acter of 1925 borrowings; Early in the-year, the United States government closed the door to Kuropean nations which had not yef funded their war debts. This excluded France as a borrower in this market, but Italy, Belgium and Czechoslovakia were readily accommodated with loans and credits after having .made, ar rangements to settle their obliga tions to the government. " X new policy regarding the regnlation of foreign, loans also took vshapo through the -Stoopera- HEARSE USED BY THE WEBB FUNERAL PARLORS tr' 'i'f s. lion of the WashinRton ad m in is- tration and international (bank-j ers in denying financial assistance to loretgn . . . .. monopolies ' which i might otherwise .have obtained American funds tp maintain high prices against AmcrYcari consum ers. .Proposed Joans of f25,0O0, .000 tothe German potash syndi cate and $Z S.OOjO.fl OX) to. the Sao Paulo coffee Jndustry were 'reject ed on this account -'. " ' THE BEST WELDING SHOP : IN THE NORTHWEST Electric and Acetylene Welding We Specialize in Aluminum Crank Cases A v . And Cylinder Blocks 1 - ' ' " - ! Machine hop in Connection 4 - v. Our Work Is Our Best Reference, . ... f m M H Mtm m m m lllnMlxMWwMkiUrpMfl V Brai b alub Ml after Mv rOtmr Hm arW V t - i i i Telephone 2363" f : 7. v HIH STREET AT TIVDE, SALEM, OREGON i v-.r:-r - " ' i " "' 7;- OUR 1825 OUTPUT The Highest Quality Product Shipped to the Markets of the Country . Editor Statesman: - The celery industry - for J.H state of Oregon and around Salem is in its Infancy. Our records show that the first car of celery from- the - Salem territory; was 1 shipped in 1921, which I think is about the same time that the other Oregon celery districts 1 r 1 . started having car -.lot shipments nf rilfrv -Fromt a- fifteen car output in 1921 the celery industry has grown to over 4&0cars during the season 1925. Three hundred of these cars were shipped out of IliW r.hsfi rttArirY" "fTTpsn ' "511 (Tit cars-snippea .oar Dt tmx v&imtkim? d tttricf erdistmulelniilir EQUIPPED. - - - , Charlie Duncan : . . . 349 Ferry ' ' Salem, Oregon r - - - s r i-; ' . ..' j T-c-jri : J and SPLITDORF RADIO - a l f- LJ faasra kets ; all over t lie United States and five cars to Montreal, Canada Some of these cars in the United States went as far as Tampa, Flor ida and Baltimore. Maryland. Demand lit California V.. This year a demand was creat ed for good Oregon celery in Cali fornia markets, San Francisco using from two to three cars " of our celery, a week during the en tire shipping season, continuing the use of our celery even after their heavy shipping season had started and paying a premium for the celery plus the heavy ship ping charges. . .. The Labish celery is marketed direct for the growers througjx their, association and is all stamp ed .and labeled ''Meadow, Brand Celery, with the shipping : point f stenciled on all crates, this mak ing it known that Oregon is the producing state of the best celery shipped to the markets for this country. V Even, with our heavy shipments this fall we were pn able to supply the demand for Thanksgiving trade. , ; A big adrantage of our celery is . the fact that it will carry In storage for .sixty. , days vand , still, self at a very good price. .... i. ..... - .. -, BATTERY AND ELECTRICAL SEIICE Expert jSeryjce on Starters, Generators and Ignition Systems Distributors PREST-O-LITE BATTERY Farris &.Powers AUTO ELECTRICIANS 487 Court Slrwt - 4 - . ? II! .- t. .... , , . I! 3 I I II. I I r I f-V VII Mmmml I f V II I 1 I I i ' 2 ( 2 I i j i 1 1 Ai l i 5 1 1 v 1 1 i v 1 1 II ii II ii ii i -: ',1 m t 'Mf I f I I- V I I i I V r A 11 I I - I I , I I , - J, VI II ill 'Vo.lC A'CJ'rfl.l'- - vll-: ' I JiNli-tCliI OS. :: : : r . I II 1 - "' - -; ;'-.,w.v , ' f. v -p if 1 pi - Wf Q I Si-5s se IT'" 5. i 4 6 1 I i i 14 . if GRAPHS TIONS. I . i.l '-I- ' ,J: ' If ' ' ' - - , , Ilrlngs In Much Money While all the celery crates and way-hills show the shipping point as Brooks, we handljp correspond ence and telegrams through Sa Iwihtjieref orfcadvertising , our city; There was brougnf into vicinity f 150.000, of joutside cap ital this year whicTf was largely spent and invested around Salem. For instance our lumber and crates .were -bought ill Saleth and vicinity, amounting to 320.000. This is perhaps the heaviesVslh-. gle - item .of expense: but there are numerous smaller items, as engines, tracks', green house, sup plies, etc. The fertilizer bill Is also very heavy; running to near ly as. much. as the lumber bill. We hope to increase"' our output to '500 ars wljthiB the next two or three 'years in this district alone, as, we are .gradually in creasing .-our .acreage ; every-ear. and also getting our brand of cel ery inlrod ucedL into'more jnarkets every shipping season. " RONALD E.' JONES.,. Manager Lavish Meadows - , ' I Ceeryi.-pnlon.,,-.- . Brooks,', 6re'.;pet. ,2 .19 25. (There, is a great deal of land in this section that Is-of vthe kind employed in growIng;4ho celery TolephoiKs i03 Exceptional Quality Unsurpas Absolute Gii iaran Unq U estionabl Remarkably Low Prices FOR THESE REASONS THE UNIVERSlfy-iOTREGOI THE WILLAMETTE UNIVERSITY, THE OREGON NORMAL SCHOOL ANE? THE ALEM HIGH SCHOOL: S ELECTED KENNEL-ELLIS STUDIOS TO MAKE ALL THEIR PHOTO: FOR THEIR RESPECTIVE ANNUAL PUBLICA ;! ! : .'7": We are ; lat yoiirj sie&'to make YOUR pictures Gttll 951: for an appointment 1 (i'.":.'- EEJL-I M WIi IIWM 429 GregQ mentioned by Mr. r Jones. The same people , are ' growing -on the same kind of land a. considerable and Increasing tdnnage bf head lettuce .each - year; an Industry that 'is as promising for. volume as the celery industry They are also " experimenting on the grow ing of asparagus ittvlai'ge ;tm merciai - way," requiring blg. can.- - . r : i . u Goodyear Tires SOLIDS Auto Accessories VULCANIZING AND RETREADING G. W. 294 N. Commercial -7' ised Service -V!'.. : 4 7 ' 7- 7- i ,.r .,-. lntegr ity TTi IllM mi miJ iM lffcn i " ' n&ilding : 1 nery enterprises to take. care of that ,crop;: and-.in other .dlrectibns these people are - making experi ments; with ! View to materially extending their,, operations. j Ed. ) r: V.- ,' i - '. : ' . . 1 :- .V ' This Is the greatest cow country on earth. - Nearly all the: .world tecord jerseys were produced iu the Salem district. t- -----. .v( " 7 PNEUMATICS "'A ' Telephone 66 -a Id I .5 fi: 2 g- H I J Z 4 5. -5 I II II 4 i - '? 'il EUGENE t 5 I 7 -,"4