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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (Sept. 7, 1927)
V "5- r.! " THE OREGcRTEfXL gXlS, jOHEC(foS wedneaY& FflSIIFIELD LIABLE 10SS lil FIRES Ff Opinion Handed Down By State Supreme Court; . Other Decisions Out "Corporations" , In the Oregon fire laws is a term which includes Incorporated cities and towns and Buch municipalities are liable j to pay reasonable costs resulting from forest fires which have their origin on lands owned by the municipalities and spread beyond the corporate limits to other tim ber t land, according to opinions handed down by the state supreme court here today. , -1 The 'opinions were written by Justice; Belt In two suits filed by the state bf Oregon . against the City of Marsbfield. In one of the suits the lower court allowed the state a judgment of $1231.43, while in the other suit a Judgment was authorized in the amount of $886.28. The' supreme court af firmed the decrees of the lower court in both cases. -. ' The principal, question involved ln'the suits "was whether the city pf Marsbfield was a "person, firm or corporation" within the mean Ins of ) the statutes.' "We are of the .'opinion, read the opinions, that the 'words 'any person, firm or' corporation', as used in the ac,t, Included tha defendant city. Much depends upon the nature and character of the act in which the word 'corpo ration f la- used. Even though the term in its ' technical legal sense unquestion ably would include a municipality. courts Would . not e'-ve it tfuch meaning if it were apparent from the context of the act that the legislature did not so use it. The construction here adopted does not Impair the sovereignity of the state nor interfere with its gov ern mental policy." " Other opinions handeddown by. the supreme court today follow: . Flora ; Student vs. P. W. Gold- app, appellant; appeal from Yam hill county; motion to dismiss ap peal and strike bill of exceptions. Motion to dismiss denied and mo tion to strike allowed in opinion by Justice Itand. I.Carl Meyers vs. Pacific States Lumber company, appellant; ap peal from Mutnomah county; mo tion - to dismiss appeal. Appeal dismissed in opinion by Justice Rand. v V ; ' 'State of Oregon vs. Robert -Wright, appellant; appeal from Wallowa county; petition for re hearing denied in opinion by Jus tice Coshow. Charles B. Rickert vs. State In dustrial Accident commission, ap pellant; - appeal from Clatsop county; suit to recover compensa tion for personal injuries. Opin ion by Judge James A. Eskin affirmed. - Motion to dismiss denied Twentymen ts. Nichol. . -Motion to dismiss granted State vs. Swank. ' Motion to dismiss appeal de nied ' in Kernan vs. Swart wood. . Mption. for extension of time in . w hich to tf ile petition for re hearing denied in Dunn vs. Hen ' derson. in in PLANE SPEEDS ON ITS WAY EAST TO ROME " ( Continued from ; Page One) land at 6 o'clock. E. S T. Bridge port, near North Sydney, where the plane left the Nova Scotian coast, is not far . from the spot where Lindbergh took last 'leave of Nova Scotia on his flight to Paris. - .- : Wireless O. K. . Evidence that the Old Glory's wireless was working as satisfac torily as - Its motor was received in a wireless message 'from St. Paul's island ; stating that the plane 'had twice talked to the op erator there and received bear ings. .6:51 the course as given by St. Paul's island was 191 de grees from, the true north. The Old Glory -at 6:10, again asked for bearings and her 'course was then 158 Mi degrees from true north. " j The last point in Nova Scotia to report sighting the plane was New Waterford, where the plane was seen, headed northeast over the ; Guff . of St.' Lawrence. ; This course would take it oft almost a btralgbt , line for Cape,, Race, N. P.i about 3 00 miles awayi Rhtes Swiftly ' OLD ORCHARD, Maine, Sept. . r(AP)rTbe:great, monoplane Old Glory rose swiftly and grace fully from the" hard- packed sand of Old Orchard beach today and winged her way toward Rjome. The long deferred flight began at 12:23 p. m. Eastern Standard time. . The toss of a coic Iiad given Jamas ' Dewitt ifJII the coveted pilot's position at. the start.' Be side him in the cockpit was Lloyd Wilson Bertaud, wno will attend to the navigation and radio oper ation in addition to relieving Hill at the controls at intervals. ilill i3 not an operator. In the pas senger's seat was Philip A. Tayno. managing editor ipf.jtbe Jfev Yorg Mirror : and flight director, who represented William Randolph Hearst, backer of the flight. . .. ' . lill Wives' aooflbj e , - Payee &nd.5-rtau4 ejijen their wives ' a 1 cheerful farewell.' No woman relative 'was, 'present tc speed Hill, on his way but Mrs Payne" had given hlm hearty kiss. A Catholic: priest had sprinkled holy water on the; plane and imparted' his blessing on plane and crew. ,. k - ... :'lf National guardsmen 'held back the rowd which had gathered to watch "the start.' Slowly at -first but with quickly gathering speed the plane rolled down the beach a mile and a half before taking the air. On thej runway of sevn eitbths of a mile at Roosevelt field, N. Y. whence it had been planned originally to make the start, inability to get off the ground sooner would have meant disaster. Here there was a large margin of safety and Old Glory swung out past - the end of the long pleasure pier and seaward. The fliers hopedjto reach Rome without a stop. From the vicini ty of Newfoundland Bertaud plan ned to navigate the plane straight tc Bordeaux, France. Men All Confident It was a happy and confident trio that arose today after a good night's sleep at the Brunswick hotel where they had stayed since they arrived heire in the Old Glory from Roosevelt field last Saturday night. First of all Ber taud and Payne went to St. Mar' garet's Catholic church to attend a special mass arranged by the pastor. Rev. James F. Mullen. Hill, who is not a Catholic, did not accompany them. At 10 o'clock the plane was moved down from its overnight position, just above the high water mark to the firm sand left by the receding tide. Captain Eric Ben sham, representative, in this coun try of the Bristol Jupitor com pany which built Old Glory's mo tor, gave it a final inspection and try out. He was entirety satisfied. Payne and Bertaud were sur rounded by groups of relatives, in cluding Mrs. Payne and Mrs Bertaud. They were -laughing and joking, obviously in high spirits. Once in a while one or the other of the women withdrew from the group to wipe a few in voluntary tears from her eyes. But for the most part they were as cheerful as their husbands. They betrayed no sign of worry over the outcome of the flight. Hill (Sets. Featured Beforehand Mrs. Payne and Mrs. Bertaud had wTitten long letters for their husbands to read while in the air. As they chatted with the fliers they and Mrs, Florence Callaghan, mother of Bertaud, noticed that there was no feminine touch to the depart ure for Hill. They put their heads together. Hastily Mrs. Payne scribbled a note while the two other women looked Over her shoulder and nodded and smiled in approval. All three signed it. Mrs. Payne stepped up to Hill and to his evi dent astonishment, threw her arms around his neck and kissed him. Into his hand she slipped the note. It read: "You are a great fellow. We all love you." Blessing Asked The crowd stood hushed as the Rev. Mr, . Mullen, climbed to the top of an empty barrel. The purple stole about his neck was the only sign of his office. Fer vently he imparted the blessing of God on the plane and three men who were to make the flight. On the oil spattered nose of the plane he sprinkled holy water. The fliers exchanged their part ing handshakes with relatives and friends. Payne and Bertaud em braced and kissed their wives, and Bertaud kissed his mother. Standing beside the plane with its roaring motor Payne flipped a coin. This had been agreed up on as ' the method of deciding whether Hill or Bertaud should bilot the plane at the take-off. The coin slipped through Payne's fingers and dropped into the land. He flipped it again. The wo fliers bent over him eagerly s he caught It in nis fiand. Ber taud looked up with a, smile. The ship is yours, J. D." he Said to Hill. ' They climbed into the cockpit. fill took the sticks and Bertaud as beside' him. At the last minute Payne ushed ; back to where his wife as standing and gave her one iore kiss. Then he quickly 'took 3 I ft r-JJ? BBS LkU fPHB Chssi J. Dean method of IX tf eating Piles is so certain tof satisfactory result, even in the severest, in r"-K!(e f l' that w VFTT i f 4 ASc- RANCE OF ZVCCESSFUL TRAi. NT OH F RETURNUX Other Rectal and Cekm whncnt likewise mmkmmI trick) to f-l KtofHiM. ikwi wireiol metnod. Our 15 jwar fewhhr tpecialiMia practice ha brenftnt as tttoauuKi partem W an wares in We fcpi ail 9r the West. Big, completely Tn eottipped offices aad klllfnl " persoBCI are nuanmra nt ;" InrtUnd. Seattle and Saa ' AH S4T tor v'-. r KEB lOO-pgc lHutratea Co ion kilmcats. : . ' . - t -1 rOlfi 1AMH (ptr'rt t4 lM.3k M4IM ' 1 1 ... his seat behind Hill and Bertaud, : 'Last libok ; I r -; Mrs. Payne, MraVBertaud and Mrs. Callaghan strained their eyes until the speck In the skies van ished. Then they went back to their hotel. Th ennalpye 766ET their hotel. They planned ? to re turn to "New York either ; tonight or tomorrow morning. Asked If they would cross, the Atlantic by steamer to meet the fliers they said: "Oh, no. We will wait right on this side for them to come back.' Before leaving Hill, who chart ed the course, was unwilling to commit himself too definitely as to just how the plane would cross the. Atlantic. He wished, he said, to reserve the right to change his course if conditions teemed to de mand it. ' Whether he would actually cross Newfoundland he did not care to predict. It was possible, be remarked, that he might not even come within sight of the isl and, as he was confident that he would keep on his course without checking it there. Either Fdirect from Newfoundland or from that general vicinity, however," he Sx pected to head straight for Bor deaux. Route Longer This, he explained, would be somewhat longer than the great circle course. He believed the In creased distance would be more justified by lessening the hazards of cold and sleet to the northward By the course he had picked he had received assurances from James H. Scarr of the New York weather bureau of favorable wea ther all the way. Hill also had with him a chart prepared this morning showing the positions of nil ships which he would be likely to encounter or which would be within a radius of 200 miles from the plane at any time. 'He was confident that with his radio apparatus, which also had an auxiliary emergency set. he could at all times during tho flight keep in touch with either ship or shore. He said he had no intention of sending out' a constant stream of radio communications. From time to time, he added, he would send a message telling of the plane's progress and he might frequently ask for position reports. STATE SUPPLY SPINNING TOW ALL SOLD ABROAD (Continued from Page One) on file for around 180 tons, in cluding the' definite order for 40 tons mentioned above, none of which can be filled. All the long line fibre at the state plant was sold some time ago to the Stevens Linen Works at Worchester, Mass. The state plant is thus out of the market for the present, with not a pound of long line fibre or spinning tow Dn hand .and unsold. ' More Coming Up But more is coming up. Plenty more. The upholstering mill at the state plant Is runing full blast, with ample orders ahead. The whippers (threshers) are turning out flax seed at the rate of a car load every four days. There is enough retted straw pn hand to make about 300 tons of fiber. This is the straw of the 1926 crop. Besides, there has been retted some of the 1927 crop, and the amount will probably rnn up to 200 to 300 tons before. the winter rains make this work im possible. The 1927 crop of straw ran up to about 4000 tons, so the reader will see that there will be plenty of work for the retting tanks as early next spring as this opera tion can be safely carried on when there is sunshine to dry the straw after retting. This cannot be done artificially. It requires sunshine to retain the resiliency (spinability) of the fiber. Though this difficulty will some day be Overcome, no doubt, and this is being approached now, by several methods of treatment. Ht'uUiiing fetartHl Yewterday The scutching of the 1926 crop Of retted flax straw was started at the plant yesterday. f This will go On through the rainy season, so there will be plenty of long line fiber and spinning tow for the two FREieilT DHAHGES MUST BE REFUNDED M'Nary Rules Domestic Bate Not Applicable To 'For eign Bound -Wheat ; PORTLAND, SEPT. 6. (AP) Under a decision today by Uni ted States Circuit Judge McNary, the government will have to re pay to Kerr, Gilford and company, of Portland, $65,385.71. paid in taxes on freight charges for grain shipped from interior points for export. Of the amount awarded In the Judgment $57,106.80 was for principal and $8,278.91 for Interest, on the taxes. Judge McNary upheld the con tention of the plaintiff that the tax was illegally levied under the vtir reenue act. It was alleged bjr the plaintiff that the wheat was "purchased for export to for eign lands, that the journey abrb'Sd 'tfegnn when the grain left the warehouses in eastern Oregon and Idaho, and that Its reshipment here was only incidental to the trip to final destination. It was claimed that the freight was not paid as on domestic - shipments, but as part of the entire transac tion of sending the cargoes abroad. The wheat on which the tax was collected by Clyde G. Huntley lo cal collector of internal . revenue, was1 shipped, at various times be tween Aa'gustjl920 and January, 1922; and-tfie tax was paid on March 30. 1925. , Spring Valley Residents f Visit Long view 1 Relative Salem mills, yff In other ways, the industries at the prison are kept busy. The lime plant there is shipping two to three carSt'a day, - ott" orders from all over the valley and coast coun ties. Col. W. B. Brtrum, superin tendent of the state flax industry, is keeping a close record bf the fiber content of the 1927 crop of flax, as it is scutched. hTis is for the purpose of arriving at the right prices to be paid to the far mers for their 1928 crop of flax. At the Linen Mills There will be ample fiber for both the local linen mills. The Oregon Linen Mills, Inc., Is work ing a force of about 40 people in the spinning department; on or ders from eastern weaving plants. It is expected to speed this up to two shifts a day, and later to operate the looms, when the right kind of orders can be had. The Miles plant is working a small force on twine and thread. and it is expected that a full complement of ? about 30 people "will be employed in that plant Soon. ! : It is possible, with full opera tion, to Work several hundred people at these two plants, which will no doubt be done in time. . . SPRING VALLEY. SEPT. 6. (Special)- Mr: Sand i Mrs. John Toews were called to Longview, Vash.. by ; the illness of their dau ghter, t Mrs. E.' V. Morrow. They spent" the past week et 'her home,; Mr. and Mrs. Frank Kieper and daughters of Talbot were Wed nesday evening guests at the home of Mr. and Mrs. .J. P. Sohn. They were accompanied, home by their small nieces, Elaine and Ella Belle Sohn. Walter and Arthur Bliven of KIser are spending this week iwth their grandparents, Mr. and Mrs. W. A. Chjite. Miss Crol Hobbs of Salem' spent the week-end ' with her grandparents, Mr. and Mrs. Ff G McLench. j . Mr. and Mrs. Carl E. Alderman and small son Junior were Friday callers at the home of Mr. and Mrs. Page Stevenson in Salem. Mr. and Mrs. W. A. Chute were Sunday visitors at the Howard Bliven home near Kiser. Ha Marie Versteeg is visiting at the home of her cousin, Lois Wil son, near Wheatland'. Mr. and Mrs. Frank Windsor and children Irene, Doris and Ver non spent Sunday visiting at the nome or Mr. and Mrs. Andrew Christensen near Carlton. Mr. and Mrs. J. . P. Sohn and small son Jesse were Thursday evening callers at the. H. N. Alder man home. . , i Mr. and Mrs. C.-SL.Teeple and son Howard visited fWltlttRev. W. T. Scott, who is at the. Deaconess hospital in iSalem ;, suffering with paralysis, Sunda afternoon. Lat er in the day they Jyisited. Mr. and Mrs. Howard Bliven hear Kiser. and Mrs. Jfarr, were aaaea to me membership llsi ' - " -. ' ! ' . "Mr. and Mrs, M "Townsend spent Sunday ati Rbsedale visiting rela tives." I ' " v iMrsv 'Antilla Hadley. who Tjhai been . spending the .hummer' here with her son, Ivan, left Wednes day', for Salem, where sne will make her home for the winter." . - f " ; i case pie HE IXpiCTSiEXTS OF OLMSTED WHEELER RE-SUBMITTED ' PowervCompyJCoplains , Rival Entering Territory The Wood River Power com pany has sent a letter to the pub lic service commission alleging that the Oregon-California Power company is attempting to invade its territory through the constru ction of a transmission line into the Fort Klamath district. The public service commission indicat ed that a hearing would be held to determine the merits of the com Cloverdafe WCTU Holds Well Attended Meeting CLOVERDALE, Sept. 6. (Special) Mrs. John McKlnney was ' hostess to the WCTU last Wednesday. There was a large attendance of regular members, and several visitors, among whom were Mrs. Matilda Craig of Salem and her daughter,, Mrs. Ethel Jones, both of whom lived here formerly and were welcomed back on this visit by a host of friends. Two new . members, ' AJrs. Garner Vault Entombment Incomparably COMB SAGE TEA . INTO GRAY HAIR - .i i ' " :- f " Darkens Beautifully and Restores Its Natural Color and Lustrs At Once Common earden sace brewed Into heavy tea, with surphur and alcohol added, wiH turn gray, streaked ana faded hair beautifully dark and lux uriant. Mixing , the Sage Tea and Sulphur recipe at home, though, i troublesome. An easier way is to get the ready-to-use preparation in Droved by the addition of other in- gredients ' large ' bottle, at little eo8t, ,.M iorag, iotm, Known a MVyeth's TSage ; and . Sulphur : Com pound," thus avoiding a lot ol bum, , .While gray, faded hair is not sin ful, we all desire to retain our vouth f ul "Appearance 'land . "attractiveness. By darkening your hair with Wyeth'a SagejMid Sulphur Compound, no one can tell,-, because Jt doea it so naturally, evenly.' Yoii just dampen a eponge or sott orusn -wiin it and draw this "throiuh your iiiir taking one'-small trand a a tim; by morning aU'gray liair iuve di mppfUedj After another f flirtation or iwo your nair utns inftuniuii dark, fkBy, soft and luxuriant- aiui tou e;T years ywju, trteBETHnERWffS . J TJROGRESSIVE people no longer are Jti JcompeUed to give their S-ured'dea4 into the unhailowed care of desolate earth. No matter where they reside-the incxmparabljr better vys-remation or vault entombment at the Portland Crematorium "and Mausoleum are available. , r I Any reputable funeral director can arrange for me services and attend t all details. I ... . . Upon request we wtU send you brochure that exptamiur te rket-ad shows -view of our . beautiful buildings. - - I -, - -; T . The Cost of Cremation .-. Uprdy 45 -TV 53 Ul db, 1 ar-mmm - . -. a 1m s ausm POrlTTzAND' i: r. . - OREGON ; V: , 4 t "-it.. PORTLAND, Sept. 6. (AP) The indictment of Emory Olm stead, former president of the de funct Northwestern National bank, and J. Ei Wheeler, prominently Identified with the lumber indus try of the; Pacific northwest, was re-submitted to the federal grand Jury today npon 6ruer" of Federal Judge McNary following a motion to this effect filed by George Neu- ner, United States attorney for Oregon."' :j Charging conspiracy and viola tion of the national banking act through the "kiting" of checks to the sum of $11,000,000 and the specific misuse of $796,514.45 of the funds of the Northwestern Na tional bank, the Jederal grand Jury indicted Olmstead and Wheeler July 20. They were arrested the same day and posted bail of $15, 000 each with Kenneth F. Frarer. United States commissioner. In the order of the-court Judgel McNary alio Wed the two defend ants to continue under the ball previously posted. The grand Jury was summoned by Nefcner to meet September 1 14.' The' indictment, it Was explained, was being re-snb-ra it ted for correction and amplifi cation. 1 ' ERS liDflffilG Ldrena Trjckey and Bob Brown To Be Questioned : " 'Concerning Murder l Little George, the garage mas rot, was visiting his aunt. He found the cat in a sunny window purring, cheerfully. "Oh, Aunties, come quick," sajd little George, "the cat has gone to sleep and left his engine run ning." ; . ..' Los Angeles Contractors Sue For Big Sum. Seattle (AP) I - LXKEVTEW, . Ore., Sept. (AP) While no' evidence of any kind which would tend to link either Lorena Trlckey or Bob Brown with the murder of Miss Trickey's ? husband, Slim Harris, rodeo performer, was brought forth at. the inquest in to. Harris death -today, county officials are holding the couple without bail, pending - further developments. Harris was slain Friday night. His wife said , immediately after the murder that she and her hus band had : been driving slowly 7i "" wi, .MMtifirf .itracton Au- 21. 1925. They had .!' 4T. Dfren Pd $1,176,095.49 on thei SEATTLE, Sept. 6 Jahn and BressI,!Los Angeles con tractors, today filed suit In King county "superior court tor $234. 856.48 alleged to be due them from' the city of Seattle on the Lakei Youngs tunnel contract. The tunnel Was part of a $6,000,000 project for enlargemen.jvf the city's water supply eofi't' , Jahn . and Bressi were awarded the contract on a bid of $1,250,000 asserted- that after more than a year's: work on the project, they encountered earth conditions greatly different from those -reported 'by the city engi neer. , As a-result, the complaint avers, it was necessary to change their plan of operations, which In creased! the cost of the work. When the city's board of public works refused to grant the con tracted' request for ' $234,856.48- J Jahn and Bressi rescinded the con- running board of their automo bile, -plunged a long-knife into Karris heart, and s vanished. Har ris died almost immediately. The coroner's Jury today reached a verdict that, Harris, a noted performer at western rodeos, came to his death "at the hands of persons unknown."' Miss Trlckey did not take the witness stand and did not appear In the courtroom' during the pro ceedings. Brown; likewise, failed to offer testimony. , But brief evidence was .submitted ' tot the coroner's jury by a negro round up hostler who was taken into custody immediately rafter the mnrder, but who was later re leased, testified that he knew nothing about the affair until of ficers came to where he was sleeps ing in the stables' and placed handcuffs on him.: A preliminary hearing sched uled for today with Miss Trlckey and. Brown as 'defendants was postponed until later iij the week. contract when they quit work. CUE GOT FOR "MRU" Especially Prepared for Infants and Children of All Ages Mother! Fletcnem Castorla has been in use for over 30 years to relieve babies and children of Con stipation, Flatuiency, Wind Colic and 'Diarrhea; allaying Feverish ness arising therefrom, and, by regulating the Stomach and Bow els, aids the'assimllatlon of Food; giving . natural sleep without opiates.- ,; . : --. The genuine bears signature of New Issue $125,000 1 erminal Hotel SALEXf. OREGON Building First Fee and Leasehold Mortgage 6 Serial Gold Bonds 1 : V';.. OF ' H. M. Hawkins and Thomas A. Roberts i Ut UCU August isi, xnAt iuc sci laii i cui uai j lot aim nuusi ioi, au w - f i Coupon "Bonds in $1000,' $500 and $100 Denominations . fl ' ' . i-. . ' ' : SECURITY This issue of bonds is the joint and several obligation of H. M. Hawkins and Thomas A. Roberts and is specifically secured by a First Mortage on a parcel of propertyin Salem, .Oregon, with a frontage of 42 -9 on. High .street and , a depth ofl66 1W together with a portion of" the Terminal "Hotel Building thereon; and by a First Mortgage 6n the fifty-year 'leasehold ; estate in the rest of the- Terminal Hotel Building and the land on which said portion stands; . viz.: the Northeast corner bf High and Court 'Streets with a frontage of 102v feet on High Street and 81' lVa" on Court Street. . . . The building is of concrete and brick construction, four stories and basement and contains 111 guest rooms. Knighton and -Howell, the constructing archi tects, estimate the cost of the building at $225,000. . The appraised value of the fee property and leasehold sis $262,790. . . ' . : ' ' ' ' H. M. Hawkins and Thomas A. Roberts, the obligors, show 'a combined net worth of $570,614. They have been partners for many years and have a very substantial and profitable business as well 'as -. diversified property holdings, which are conservatively valued in their financial statements. Mr. Hawkins carries $105,000 life insurance, , $25,0001 of which is assigned to the Trustee for the protection of the holders of these bonds. Mr. Roberts carries $70,000 life insurance. 4 . .. t ; V1. . , GROUND LEASE . The lease on the portion of the preperty hot owned in fee is for a period of fifty years at the rate of $7,800 for - the -firsV ten : years aricl s,$7,200 for the re maining forty years. The lessee agrees , to pay all: taxes, but the lessor pays part of the cost for insurance. In the opinion of competent experts in Salem, - , this lease is very" favorable to the lessee. " . - ' ' . ; EARNINGS " Hawkins 'and Roberts have leased "the" "entire property for a peridd of twenty years to the. Stage Terminal Hotel, Company at a rental of $30,000 per year for the first , three years, $33,000 per year for the next five years and $36,000 per year for the. last twelve years. The Stage Terminal Hotel Company agrees to completely furnish the hotel arid give a lien' on' the furnishings as security for the lease. This company is owned by more or less the same group of men that ovvns and operates the Oregon Stages; Incorporated, operating an extensive system of stage lines in Western .Oregon. ? The Stage Terminal Hotel Company . operates 'successful hotels in Salem, Eugene, Roseburg and Medford. This new hotel will take the place of the present hotel in Salem, which must be vacated . in the near futurfe as the "property is to1 be converted toother uses. T ' ' Based on their experience in the other hotel building in Salem, he Stage Ter minal Hotel Company estimates that earnirigs available for payment of rental ;' will be m6reYthW'double he 'rental requirements.- : , ' : As the gross income to Hawkins and Roberts on the Jease to the Stage Ter minal Hotel Company is a definite amount and as the dnly deductions therefrom 'are for taxesYground lease, insurance "and" minor incidental expenses, it is pos sible i to f igure -the-met income available -for v. this bond issue with accuracy. It is estimated that the net income available -for the paymejit of 'interest and prin , : cipaL pn this bond. issue will Average $22,175 per. year. This is equal t6 2.73 -times maximum interest requirements and 1.51 times ' maximum interest and . principal requirements, -; j' jUU. ' - : , "The "trust 1ridenturefcontiinsl the . cu ;r inteTests-df 4liorid holders s including "the requirement that f till insurance against loss ;'fr6m fire farid also full insurance" against loss' of rentals resulting from fire -- be-carried at all times in companies approved -by the trustee, v , r-.; Tfn r PURPOSE OF XOAN The piirpose of this loan is to supply part of the cost of the building now near , Ln completion-: ; 'XK rV VAf.U:J i ' ; Prlce 100 and Accrued -Interest to Yield 6V it T ; i!i.ur4oetoan-s i iruot Company - ...Ggternment, Muriicijpa fPpblic I Utili t, Industrial, h Corporation Borid3 . ' ' : Sixth and Morrison Streets, Portland, Ore. r ' ;-.:.-.-qTeleDhone BE 7131 ' - - i. r.1 '"-rTnis? Information," -riae not ,fuaraTitenl.v$3 believed to be accurate 1 J.