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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (March 21, 1928)
10 WMWM wmm Consolidation of Mackay and International Interests Published NEW YORK. Mar. 26. (AP) Formal announcement of a fusion of Interest between the communi cation systems of the Mackay com panies and the International Tel ephone and Telegraph company was made here tonight by Clar ence H. Mackay and Sosthenes Beha, respectively presidents of the two corporations. The merger will bring together a coai muni cation system reaching to all parts of the Americas and to European and Asiatic countries. A wireless service to supplement ex- i.o.cr fsMn and wire systems also win be operated under the new arrangement. Tte plan, which is subject to approval by the respective boards, contemplates the formation of a new Commercial-Postal company under the chairmanship of Mr. Mackay. The new company will acq aire the outstanding stock of the Mackay companies, which con trol the submarine cables and land wires of the Commercial Ca- . blea and Postal Telegraph systems. Eventually the formation, of a new international Cables company, al so ander the chairmanship of Mr Mackay, Is contemplated to take charge of the operation of com merclal cables. Terms of the proposed consol idation embrace the exchange of 'three shares of seven per cent non- camulative preferred stock of the new Commercial-Postal company. pirns one share of 9100 per value of the capital stock of Internation al Telephone and Telegraph com pany for each four shares of Mac kay companies common stock. Tie proposed enlarged system . will operate telegraph wires ex tending throughout the United States with connecting agreements for business in Canada and Mexi co; cable systems extending across the Atlantic and Pacific and to the important countries of South America; telephone systems in Mexico, the West Indies and South America, and an organization en gaged In the manufacture of elec ' trleal communications equipment widely distributed throughout the world. Wireless communication to Hon olulu is expected to be operative by the company about the first of June, and later in the jsummer similar service to Manila will be in force. These services will parallel transoceanic cables already oper a ted by the Mackay companies. Extension of ship to shore wire leas communication, and its trans- mission Inland over wires now op erated by the Postal Telegraph system also Is planned. E Agriculture Committee Fav ors Idea By Vote of 13 To 8, Yesterday WASHINGTON. Mar. 20. (AP) For the fourth time in fire years the house agriculture committee today approved the equalization fee provision of the McNary-Hau-gea farm relief MIL The vote was IS to 8. Preceding this action the com salltee adopted an amendment which, Chairman Haugen explain ed, the federal farm board has proposed, to endeavor to stabilize the agricultural industry by means of loans to cooperatives. In the event that this should fail, it then .would be empowered to pace the equalization fee machinery in op eration. The vote on the equalization fee casee upon a motion by Represen tatfve Clarke, a New York repub lican, to eliminate the proposal from the but Seven republicans a&d six democrats voted in support or the fee while six- republicans joined with two democrats in op position. After the vote Haugen aid that within a few days, pos sibly tomorrow, the committee trowld vote to formally report the measure. He predicted , that this motion would be supported by pro bably 19 members. .... The committee approved the canalisation fee first in 1124; again in 19XS, 1927 and today. In 1925 the proposal was not acted apon pending the fate of legisla tion recommended by the farms conference called by President Coolidge. " The senate agriculture commit to) only a few weeks ago approred the fee provision and the amend ment adopted by the house com saittoe regarding use of the loan provisions Is Identical to a;' provi sion In the senate bill. This loan provision is one of a number of changes that have been made in the McNary-Haugen farm relief plan since It was rejected a year ago by , President Coolidge attar passing both house and sen At that time one of the chief I objections raised by the president waa against the equalisation fee proposal and Haugen said that the loan amendment was designed to require the : d to first try to DICED EQUALIZATION FE APPROVED IN stabilize agriculture by the loans, which have been favored by the administration la preference to the fee machinery. CDOLIDBE REQUESTS DEBTS BE SET ASIDE Recommendation. Made To Congress Monday In Case of Austria WASHINGTON, March 20. (AP). President Coolidge in a special message to congress today proposed that the United States temporarily set aside its mone tary claims against Austria in or der to enable that country to bor row additional capital for econo mic reconstruction. Along with the mec-sage the president submitted a report from Secretary Mellon explaining the obligations which the United States now holds and the policy toward Austrian finance which i is willing to assume along with, other nations who are creditors ol Austria. Mr. Mellon explained that in 1920 the United States furnished Austria with S24.055.708.92 for the purpose of purchasing food, while European governments pro vided $95,000,000 additional. All of these food loans were subordin ated as liens in 1923 to enable Austria to borrow 1125,000,000 for reconstruction and the coun try now desires to float a new loan of about $100,000000 to complete its enterprise. The pro ceeds would be applied to the re pair, improvement and re-equipment of the Austrian railway, tel egraph and telephone systems, Secretary Mellon explained. WALL STREET MART SEI Radio Corporation As Wei! As General Motors Shows Heavy Gains By STANLEY W. PREXOSIL Associated Press Financial Editor NEW YORK. Mar. 20. (AP) Cries of a "corner" resounded in brokerage houses today when com mon stock of the Radio Corpora tion scored a spectacular gain of 123 a share on the New York stock exchange, duplicating the record high price of $1(0 established last week and starting a fresh turmoil of speculation In other Issues. Sharing market leadership with Radio, which lost 6 fo its gain on profit taking, waa General Motors, which Jumped $6 a share to a new record price at $174 and closed 1 a share below the top price. Combined sales of Radio and General Motors ran close to 500, 300 shares or about one seventh of the day's entire volume of busi ness. It was the eighth consecu tive full session in which stock sales had crossed the 2,000,000 share mark. The average of 20 leading In dustiial shares, compiled by the Associated 'Press, advanced nearly 1 V points today to a new high record for all time and were ap proximately 20 points above the year's low. Stock exchange authorities have been lnvestigtaing reports of an alleged "corner" In Radio for about a week, demanding dally re ports of all transactions from ac tive members but no announce ment has yet been made as to the progress or result of their inquiry. The stock broke from $110 a share in the first few days after the Investigation started, prob ably inviting a renewal' of "short selling" on the part of venture some traders. But when thn atrwk started up today, it was apparent that there was still not enough to go around as It Jumped from $155 to $160 between sales. At the close of the market the stock was loaning "flat" to those who bor rowed It in order to make delivery against short sales, which means that borrowers who were forced to deposit with lenders the current market price of the stock as secur ity,- received no Interest on their money. SEEKS FLIGHT RECORDS Lone Aviator Wants to Establish New Non-Stop Mark ST. PAUL, Minn.. Mar. 21. (AP) Gene -Shank, young St. Paul aviator trying for endurance flight records, was forced down early today by a broken gas line feed after he had been in the air 12 hours and 21 minutes. - ST. PAUL. March 10. (AP). a solo filghl In quest of sev eral records especially that for sustained flight Gene Shank, IS year old St Paul aviator, was . In the air tonight after taking oft at 1:17 p. m. from the ice of White Bear; lake. . ;'J-' V , Circling over the St, Paul air port, he set himself to the task in the hope" of bettering ': the world mark of nearly I1H hours Inci dentally brekalsg Colonel Lind bergh's solo Clght record of more I than It hours, made In his At- Untie hop." I t; Another mark aimed at by the young .pilot was ; the endurance flight for light planes of the type he is' flying, now set at 11 hours, and the refueling- record - of ST ES FRENZIED DAT THE OREGON hoars.'. ' 1 He viU attempt refuelling his plane while flying alone. In the other instances of refuelling In the air two men have been aboard the refuelled plane. Many Pupils Not In School At Auburn; Illness Cause AUBURN, March 20 (Special) Twenty pupils were absent from animal last vck ineanaeitated due to measles, pink eye andJwne8 of Tillamook and Lyons of colds. Mr. and Mrs. Roy Hammer visited at Netarta Sunday. Miss Nellie Morgan gave a piano recital Saturday. Pupla taking part were Kenneth Morgan, Ethel Johnston, Nadine Earls, Elsie Graham, and James McKenney. A number of1 guesta were present. Refreshments . were served by the hostess. The decorations were ap propriated to St. Patrick's day. Mr. and Mrs. Frank Verblc were in this vicinity last ' week calling on old friends. They have located in North Salem tempor arily, but will leave for Idaho as 30on as weather and road condi tions are favorable. Mr. and Mrs. Moses 'Honaker were visiting in this vicinity last reek. Mrs. E. T. Peltier accompanied her mother and sister to Portland .ast week for a short visit. Hurlie H. Moore Accepts Position At Stiff Store Hurlie L. Moore, who for seven years has owned and operated "Moore's Music House," has ac cepted the management of the piano, radio and phonograph de partments of the H. L. Stiff Fur niture company where he will be glad to meet all old -customers ind friends. It Is the purpose of the Stiff Furniture company to build up the largest and best musical In strument business in the Willam ette valley. Earl Heider. who has for the past two years handled the radio service department at Moore's Husic house, has been added to the service force at Stiffe. This department will be equipped to handle service on any make set. SPORTS Continued from P 4 COLEMAN SELECTS BEST HIP STARS CORVALLIS, Mar. 20. (AP) But one player at the state high school basketball tournament at Salem stood out enough among the rest of the prep hoop athletes to merit an undisputed all-star place according to Ralph O. Cole man, who refereed the tourna ment. Lewis of Washington high school was given the all-star cen ter berth by Coleman without any hesitation. Picking guards and forwards was not so easy but Coleman final ly settled the question by naming three men for each Job on his all star first string. Duffy of Salem, Dolph of Wash ington and Melvln of Medford were placed in forward positions. Coleman gave Duffy the credit for keeping Salem in the running up to the last by means of his bril liant shooting. It was about a stand off between Dolp and Mel vln with the Medford youth hav ing a bit the edge in aggressive ness. Both were extremely hard to guard and plenty fast on the court. Another Salem youth In the per son of Kelley rated th mythical regulars as a guard. He was In on every plany and ready to come through with a basket when one was needed. McDonald of Medford, although playing forward in the tournament, feels more at home in his regular position as guard and In Coleman's opinion rates an all star defensive Job. STATESMAN, SALEM, OREGON. WEDNESDAY MORNING, MARCH 21, . Knowlton of Tillamook, a good man under the basket and a clev er floor worker, rated the other guard berth. The second string waa somewhat easier to name with five schools each placing a man. Washington, Salem. Bedford and Tillamook aaraln took ratings with Astoria supplying the fifth member. Guards for the second team are McCartney of Washington and Phlpps of Medford; forwards are Salem; center is Wilson of Astor ia. Honorable mention were given Chapman of Marshfield, Page of Tillamook, Gibson of The Dalles, Beechler of Salem and Arvola of Astoria. O- -o I Bits For Breakfast Hoover- meeting tonight S And nearly every one in Salem is a Hooven man or woman; al most irrespective of party affilia tions. Marion county mapped out her second market highway improve ment program in 1925, for five years beginning in 192 6. It was 110 miles. Finished 25 miles in 1926 and about 4 8 miles last year. and will complete the program this year. - And perhaps more. Quite likely a good deal more. m S The Howard Auto company, op erating in all three Pacific coast states and said to be the largest distributor of automobiles in the world, will spend a thousand dol lars this spring in filming the Mc Kenzie river, the McKenzle high way and the McKenzie pass. These pictures, with others taken at various points along the coast, ill be shown at theaters throughout the state of California. They are designed to show to tour ists and to other prospective travelers what there is to be seen in the great outdoors empire stretching from Canada to Mexico and reached by the greatest of all highways the Pacific highway the highway that has been called the "longest street in the world." reaching -from Vancouver, B. C. to the Mexican line below San Diego. Mayor Baker announces that when the Chicago grand opera company comes to Portland he will not greet Mary Garden with a kiss, and Oregon paragraphers, putting two and two together, con elude that the law has been laid down to the doughty mayor at home. But how about Mary? Doesn't It seem that under the circumstances the public is en titled to a snappy comeback from her? Eugene Register. "Girls were harder to kiss in your day, weren't they, grandpa?" "Wall, mebbe; but It wasn't so blame dangerous. The ol' parlor sofa ..wasn't apt to smash into a tree Jest about the time ye got all puckered up." GENEVA HEARS BRITISH SCORE SOVIETS PLAN (Continued from page 1.) Soviet proposal, he added, ought to be carefully considered. At this the Soviet delegation became very attentive only to discover that the consideration the speaker gave them was more than they expected. He proceeded to dissect with merciless precision the plan paragraph by paragraph. to show that It was contrary In every way to the covenant of the League of Nations. LOST BANKERS CAR DISCOVERED (Conttnaed from psf 1.) marshals office were here yester iay and today to question Barker regarding a Are at Central Point, Dre., last August. The fire destroyed the Freeman ind Wiley warehouse in which barker had stored furniture and Lxtures which he had purchased at ledford. Officials said Barker had iken but $10,000 insurance on he property. Without Extra Cost The management of property and therttiitable, economical administrAtion of estates requires the supervision and judg ment of an executor trained along .that line of endeavor. WherTypu appoint the Trust Division of this bank as execu tor under your will you may be sure of that sort of service without extra costT . :; ,. ' ' , , ' .. , - 1' ... ? - ';. ' " .V. ',- ' . f - - y United States NatLial Bank The Bank That Service Built NEW MONASTERY TCT BE DEDICATED, MT. ANGEL XCentinae page 1) the former monastery and college buildings stood, and Is built in the shape of a capital "E" with the church as the middle wing. The south wing includes the reception room and the archbishop's room as well as the space now to be used for the seminary. The spacious and beautifully decorated dining room is in the north wing. The fathers' and brothers' living quarters are on the second and third floors. At the rear -will be planted an unusually beautiful monastery garden, overlooking the valley to the northeast. Despite the age-old use to which it Is to be dedicated, the building Is strictly modern in every respect, and has been greatly admired by visitors. i SMITH REPLIES UPON SINCLAIR FUND CHARGE (Cootinaed from page 1) you have made by your pretense of disclaiming desire to cast reflec tion on me or stating' that your committee has no concern with the matter." After the governor had written the letter, word was brought to him that Mr. Sinclair had contrib uted on one occasion to a demo cratic campaign fund in New York state. The contribution, made in 1918, to the New York county democratic committee, amounted to $1,000, records in the secretary of state's office disclosed. G. O. P. Donation Shown The same records disclosed how ever, that in 1922 the vear thai Nathan L. Miller oDDOsed and wa I defeated by Governor Smith Mr Sinclair contributed $6,000 to the republican state committee. The payment was made, the record showed, to Anson C. Goodyear, treasurer of the state committee Careful examination by Secre tary of State Robert Moses ol contributions to the governor's personal campaign funds failed to disclose any mention of Mr. Sin clalr s name. The examination covered every available by the data filed in the department oi state and other state offices. Walsh Flays Colleagues WASHINGTON, Mar. 20 (AP) A rift in the senate Teapot Dome committee between the " youthful chairman, Gerald P. Nye, of North Dakota, and the silver haired pros ecutor, Thomas J. Walsh, of Mon tana, appeared on the horizon to day as the committee prepared to reopen Its public hearings tomor row. For some time there have been under-surface indications of dis agreements between the republi can and th democratic senator and today the Montanan brought the matter into the open with a formal statement generally viewed as crlt icizing the course of the chairman in certain matters. "It is singularly unfortunate," Senator Walsh said, "that publicity should have been given to some of me pians oi me committee, or what individual members conceive to be Its plans, and equally that there should be, allowed to become public information affecting price less reputations until it is con firmed upon inquiry to such an extent as to warrant the develop ment of the facts through wit nesses." Demand To Be Ignored That sentence appeared at the end of a statement by the Montana That Baby YouVe Longed For airs, nanon vises women on Motherhood and Companionship For eTrl years I was denied tht bleating of Brotherhood," wrttei Mr. Margaret Burton of Ka&sae City. "I wai terribly nervosa and subject to period oi tempi eunennr and melancholia. Now I am the proud mother of a, beauti ful Mule daughter and a true com pa a Ion aad inspiration to my huaband. . ) believe hundreda of other women would like to know the aocret of mr aaDninesa and I will gladly reveal it to any married woman who will writa ." Mr. Bar ton offer nor ad rice entire! without i-harge. she na nothing to sell. Latter thoold bo addreaaed to Mr. Margaret Barton, $029 Maaeaehasetta, Kansas City To. Correapondeac will bo strictly evidential. an in which he stated that the committee would ignore the de mand made in the senate yesterday that Governor Alfred BJ. Smith be called before the committee "for the plain and simple reason It has no ground to bellere that he can shed any light upon the subject oi Its inqulry." The precise reasons for Waisn s strictures on the chairman were not specified, but those closely fiiowfnnr the Investigation acco-- tfc.m n. referring especially to Nva's announcement yesiero tt..- th committee would Investi gate the records of the tiarowa and the Dermlttlng of re- Mrtn t leak out at Chicago wnicn .mr. h. lmoelled both Associate Justice Frederick L. iSddons of the metric of Columbia supreme Chief Justice George E Martin of the District or coiumDin, rt nru la to issue state ments. Jurisdiction Defined While Walsh's statement was In nrenaration. the chairman ampli fied his previous statement about the Harding estate inquiry by say ing that the investigation would be comprehensive enough to en compass the questions of whether the late president became the rclp- int of "any returns whatever from any of the interests Involved in the Continental Trading company and these other oil deals." Lu his announcement that Gov ernor Smith would not be called In response to the demand of Sen ator Robinson, republican, Indi ana, Senator Walsh called atten tion that the committee was "di rected to investigate generally the leasing of the naval oil reserves and specifically to ascertain what disposition was made of the bonds of the Continental Trading com pany." Ulterior Motives Deplored "The committee would forfeit whatever measures of respect it ASS'S Here . .V-h Its labor IX W has earned thronfh us xaoor eould bepreralled upon to go-out-. side of the field prescribed tor by the resolution nnder which It acted." he added. rM- 'J f?l lerre unirersal contempt If it did mi. r Impair tne pout- pU of any individual or ,cai prv f difficult to con ceive 'thai the sugfe-tion that Gov ernor Smith be caiieu w ---- ta the honest belief mittee ought to or would do any . i 9 ik Wind. Tortunities 1 n n o m erable have come to me to depart from the strict line ol the committee has been limited by the senate. I have even been sub kA n rriticlsm and accused -of a purpose to shield personal or political friends. "I am convinced, hwoever, that the duty of the committee Is plain to resist all such appeals and that any departure is more than likely to result disastrously to the value of its work." HINT DYNAMITE CAUSED BLAST; QUIZ LAUNCHED (Continued from page 1) i ... nnolvelo nf the neers to m " ". - ... . u . aKah tha rm- cauee whicn Drousui -si mm fnnsBnFSOJiSiiBwnnn MEN WHO WISH THEIR CLOTHES TAILORED IN OUR OWN SHOP a i We have the privilege of having with us to day the representa tive of the world's largest .woolen house, showing several thou sand stylings for Spring. We cordially invite every man who has his clothes tailor made to see this un- a only. i a i In our Custom Tailor ing Department. 0 ...... . Ilia 1IK tant klefi .4 w - . o- uaig release of a roaring rem w ' ' ui death-dealing water. 1 " Among the phases to be (4' up by the federal probers win ta' the possibility that the collap tf the 1 0,0 00 cubic yards of ,ntu erete was caused by eiplot-ut that land slides brought unat,'ic. lpated pressure against the stnJC, ture, and that the failure or 'h dam may have been due to U:.T construction or location. Old Threats Recalled Sheriffs deputies recalled tu.'sy that nearly a' year ago wh0 Owena valley residents were p.;r,c mating with dynamite their wK upon the city for water rciar.v tlons. an anonymous warning as .iAnhond the sheriff lntlmu: w.ar . . I . . . v CP rrinni nam r.. ua Kjt rfvnamlted. As a result j;uar 3 were posted on the dam night h-.i day for several days. In Santa rauia, nean oi flood-devastated area, the s Paula claima committee Imr; work today. In a few hour- 150 claims had been ruea for damages totaling half h Hon dollars, for the loss oi t and citrus Paula. orchard's In
