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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (Feb. 17, 1929)
'iZZ lavs CZZZMT LrATmiA!?, Lxcsa; UfZZbn, htfiWj liorsunir, edrry if, iw SliB Federal Reserve System Re- duces Credit With Dis 1 - astrous Results J- KSUr YORK. Feb. 1 l.(AP) --The stock market again retreat ed, today before the apparent de tcrmlaatlon of the federal reserve yttem to reduce, the amount of credit ayallable for speculation. SeQlmx orders poured into; the market throughout the short ses- ' sloav said dozens of issues receded to the lowest levels of the year. The continuation liquidation was at id uc oi eu "7 vorabm weekly trade and business reviews, t-- reporting awtomotrre manufacturing at a record level for this time of year, and steel mm operations averaging from 8 to more man sw ner ceni ox c- - pacity. with steel prices tending upward.' ' I a Houses Cooperate - The selling was augmented by tit mrnt diirn of a number of commission houses to cooper I ate with the federal reserve In stabilising credit. s ' 1 aigsai f iv me in inmuitu i il pom ts to 335. The new stock toaehsd a new low at 8 6-1. A wide assortment of recent pool fa-i- Torttas ' were dumped f onto. . the I market in heavy Tolume. Inter- aatiowal combustion. United Elec- . trie coal, Otis elevator," Motor ; Prodaets; Commercial Tnvestment - trust. Johns Manrllle, Ingersoll ; Rand. ' Wright- Aero, ? and" Allied Chemical sold down" about six to ( it points. , 1-; J-- Power . Drops .Off Vl 4 . American ' and Foreign power and American Power and Light ; strong - point' yesterday, aold off about five points.: Atlantic Coast i line. Barn sdall Bt Greene Canan ' ea, Montgomery Ward and Nation al Bellas Hess lost four fo.flve t points. Such issues ! as American , Telephone. Consolidated Gaa,U. i American lost about two points. The motors i held barely steady, Chrysler and General Motors ios lag but about a point each. Among half a dozen strong f spots "was People's gas. which r mounted 7 V points, to a i new peek, and Pierce Oil preferred which Jumped about 11 points to : new top. Lambert gained near- ;U three points. in ill TO m PAYMENT A 91000 cheek for Mrs. Grace Bmm. widow of Carl E. ; Bums. ,whe died January 11 after an auto accident near Bandon, was receiv ed here Saturday by Ous Hlxson. elrenlatlon manager of the States saan, who will hand Mrs. Burns the money Monday in full mt. I meat ior a one-dollar accident pol- icy taken by her husband last Oc tober. A check for $44.28 will also be siren Harris P. Gustafson who ; was Injured in the i accident but recovered. j Settlement of the claim ' was made-through J. H. Bryant, Port land, representative of the North American Accident Insurance Co., Immediately upon receipt of the ffietal blanks .required , by the company. : . ; - Owned Anto Company i . Barns and Gustafson were pro prietors of the Willamette Auto Wrecking company. The accident j occurred when their car skidded and went over a 20-foot embank ment. i ; - Mrs.' Burns In making settle- meat for the claim on her hus. ; band's Insurance policy, said she received numerous inquiries from I people desiring to know if I the J claim would met. She expressed j with the treatment accorded her-j i by the Insurance company, j Red Cross Store ; Sold to Husseyj r Duncan Retires TJhe Hed Cross pharmacy on thla week by J. A. Duncan to A. : 8. Haasey. who took possession at ;at cone. Mr. Duncan retired from . the store because the inside work effected his health. .- ..-I . Mr. Huasey-te well known in Salem having. been employed by the Fry Drug store for the last 25 years. . , . If yoo could see .how "tte dust and dirt yoor Esrnwsts can - absorb :, m say three months- ; . you would have them l, elesned more often.; We call and deliver : sirywrhera, c,:s OS BURNS rQfp Health j kKj As Wea As fibf I ' Appesnma I I 1 Demands 1 , - II . CLeantB W a : I '. : .AV--;;-.i.i-.".-i.i 1',: ' JAPANESE HAND ;, LAUNDRY . AND i - CLEANERS f e Call &nd Deliver; WiUamiett6 to runas in saiem beginning jMoaWith Local Teams Intensive work in the. Salem field for Willamette ' university's 1309.000 "! additional endowment campaign, begins In earnest Von day when: solicitors start - an ln tenslTe canvass with the riew of securing $100,009 la this district. . ' Map Out Territory Workers hare mapped out their territory in detail and hundreds of Salem citizens will be canvassed during the coming fortnight. . A detailed statement was issued at campaign headquarters - during tne week setting forth the flnan clal advantages of Willamette uni versity to Salem. This statement follows: "Last - semester 541 students were enrolled In Willamette uni Terslty. It is reasonable to est! mate that, in addition to fees paid the university, . each student spends on an average of $400 yearly or a totaTof f 2lM00The business secretary of . the univer sity will receive and spend'- this year $175,000. Student expenses and the school's expenditures amount, to $391, 000.. annually - over $1,000 a day every day in the year nearly all of which' is spent In the-city of Salem. -J . cormiriBiii WILLIE MOVED ; The senate resolutions commit tee has decided to report out fa rorably a joint resolution provid Ing for the re-organlzation of the state government under the gover nor and nine departments.- - It was agreed to amend the or iginal resolution so ;that all the governor's appointments would go before the senate for conflrma uon. xne governor -would ap point the Heads of the nine de partments. In event the voters approve the proposed amendment to the constitution, the law would not become effective until July 1, 1931. The nine departments under the governor would - include arricul ture, labor and Industry, financial administration, commerce, educa tion, public works and domain, health and public welfare, state police and military affairs, and legal affairs.' Neither the secretary of state nor the state treasurer would be ICWIUUUli, The governor would be director of state police and military affairs, No-matter what make it is All Electric Radiolas AU" Electric Kolsters 337 Court St DnveMi Profit w flOO Dally "How much of that is profit? Ten ner cent would surely be a modest figure or $100 ra day pro fits S2f J)00 a rear profit, to the people, of Salem." jj Every dollar that Salem gave to Willamette in the Forward Movement six years ago has already been! given back In clear profits with interest at siar per cent. . ; "Willamette Is a paying flnan elal investment to : Salem. This month the university is seeking $300,000 in subscriptions In order thereby to : add $420,000 to Its permanent endowment. That endowment' will t yield annually from interest $2$,00O4-Bearly all of -whkh will be spent In Salem. This - Is . oquivalent f to; - a - factory which has 20 employes at $100 a month each. Would we not go after-such a factory? 1 The cham ber of commerce would get busy; every dinner club. every business Organization would ibei interested. v :.No Shnt-Downj in s Factory !yhy should- ; not t !every" resi dent of Salem h ofi his toes about Willamette's prosperity? It is factory with, no shut-downs, no flooded markets, no ; hard times. Its steajdy stream Of expenditures is a perceptible business stabilizer for the city,, v. i. ."Consider . the i university's fin ancial by-productsij (1) . Approxi mately 200 students resident hi Salem would go elsewhere to col lege if Willamette, were not here. thus taking Salem money else where. - ( 2 ) About 15 new. f amil les- yearly "come 1 16 Salem u for the educational advantages. ($) Alumni, visitors, 'friends come to Salem "for -visits because of Wil lamette, and they . spend money (4 ) - Every student; ! in j Willamette who would otherwise attend -a tax supported school saves the tax payer over $300 annually. ?fVH Investment Pays "Willamette is a paying flnan clal Investment to -Salem. "The movement to Increase Willamette's endowment should arouse community I enthusiasm. Every tax-payer, merchant, em ployer and employe, lot owner, householder, resident should, on a plain ' dollars-and-cents balss, make a money investment in Wil lamette at this time, j It Is the university's last chance Salem's last chance to : receive money from the General j Education Board. Do not think bther cities will see it through; , other cities will help, but they i are saying, "This Is Salem's Job; ! What Is Sa lem doing?" What is Salem doing? "Willamette is a paying flnan- elal Investment to Salem. , Alllowance . , " Fqt Yowt. IRsidli on the purchase of any RCA Radio la or Kolster Radio in our stock. . You will find our stock complete on both of these lines with1 all the latest models! and it is only through special concessions with our distributors that we are able to make this outstanding and exceptional offer, which will be in effect for the balance of February and the month r bf Marchl ll Never before make such an orrer as thia, and we reel mat it will -De needless for us to go into the merits of Kolster and Radi- ola which are both nabonallyimcryvn lines. It will pay youito investigate and take advantage of this offer."- : wan m HEFLIO CLASH Connecticut Republican Pro tests Against Alabama " Man's Charges' . WASHINGTON. Feb. If. (AP) -Protest-against using the senate forum ,'lfor stirring up re ligious hatred? was voiced in the senate today by Senator Bingham, republican, Connecticut, after Sen ator HefUn. democrat. ..Alabama, had completed - another attack against the "influence of the Ro man Catholic church."- -. - The Newest Carriages Sulkier aind Strollers THE eeascm'a finest Baby Carriage desien in m wide variety of styles and ooIs are here for yoor : i ' selection. They are reasonably priced and will de light the heart of any mother, j " A0uaIfr5eaionFerwTI7ieeidentiflesthemaa . genuine Heywood-Walceficld---and is your assurance of excellence attained through 100 years' manufactur : ing experience. Terms r"-iin" limraraffiTp-nsw iiuiuiiiiuuiKiuiwiiunaiiaJiiiiiiiiiiiiuiiuiiiwuniiiumiimiiiiymniDiiiuiiiinunjuuiittiiJu 467 Court . or what condition it is in in our radio history haves we been able to investigate and take advantage . J Easy terms as usual from $95 from $140 nsCla immediately - challenged ' Bingham to debate la the Wash ington auditorium, next month the "propriety of calling of attention here to the dangers wmcn uirwi aa religious freedom.' : This was inand br BlnsJtam. but he heat- dly ) denied Heflin's accusaUon that some one had Inspired aim to reply to the Alabaman. ' Tha ; exchange occurred with only a few senators on the noor. ntnrhan anolodaed Ito Senator Heflin for stating that his speech es were "intended to sur up relig ions bigotry.' Heiiin naa snout- l-ful That la nntxoe Bingham said VI shouldn't hate said intend ed.- I should have said do." . L "Use of the word intended 'was wronr " said Binaham. i ."and ' I apologize. I should . have . said these speeches do stir np religious hatred.' - They lead to misunder standings. As a Protestant and to Suit rmmiiiiinnff f i r Telephone 1142 to to $300 $375 as t liuoa I wish to - protest against the ase of this forum for the stirring up et religious: haired in this country. rgemate Held " Tolerant " " "I wish the record to show that the gret majority of senators are not la sympathy with these speech es lust because they are Ignored." Taking the floor again after a speech of more than, an hour, Hef lin - declared there ; "are some mighty weak-kneed Protestants here and tome mirhty weak-kneed Auons." ; But When he refaAwd Mi Masonic Temple g; i 1 1 , Values. l . - -. . ( . -. , : ' I IS ! H -.Vip-' " " imif i Yon have this opportunity to line Radio containing every worthwhile J improvement at price much below the ; "market ralue. One dial tuning, marvelotu Dynamic Speaker, A. C. light socket opera- I tion makes it the leader in the field. Come" in and hear it. THE BEAUTIFUL Tudor Console 8 Tabes -A. Dynamic Speaker ;.l There Is no limit to the range, no . elusive note that is lost, when you : have a Utah Dynamic Speaker com bined with this 8-tube all electric' '.' set. Encased in an exquisite Tudor cabinet of glossy walnut. A truly. j -amazing value ! All complete with tubes 1 : . I President H ' m i - . :-v 4 4 luDes J.is. juy All the best features of ive President cabinet of polished ; ' , , walnut is unusually lovely. Priced lower, than ever before I Cfemplete including tubes! . , ' -Airline Table Model 7 Tubes A. C Dynamic Speaker An all electric table model, ; ingly low priced, yet of the finest s v modern construction -a set that v will bring you' hours of pleasure. -It. has simple one; dial tuning, the'; :4 'utmost power, range and realism. - . Encased in a richly finished walnut case that is pleasingly compact for use in the modern home Also completely, equipped with tubes t t siocovr agata to the influence of the Cath- olie: church la the 'senate,1 Bing ham declared that he had been in fluencedl by tto one and Heflin said he accepted his statement. MKETXSO POSTOJTKD '' The meeting jf the state high way commission which was to have been held in Portland March 1 to consider bids for a number of state projects, has been post poned until March 8, according to announcement made by .highway department officials today. for I Myself WispInvi-AU Of My Friends : Visit4 Me InvMy New Location AskuSSEY (Formerly with Pry's Drug Store) " 0 . ? . ! Corner State buy an Air One Model ' 1 r- 1 limine opcaner Radio Oie amaz- One Cross iiaiiiiaiuv I MINI j U Jf 151 Easy Time Payments Ward's Time Payment Plasi v: makes it anuAuaUy easy and ", - ' -' convenient to own this Air- ' line Radio, . '-'.i .1 ' ' ' --':f ' xtuaents uiven MustcaliHonors a Aiatt- tniiKtrai " honor haa - . . . m . a Ji : ' fill, m oven icvuwrivu iwu . high' school students, verne; son end Fred Remington, lnitheiir: selection as yepreseststives to Che; vnHhvMtrn Msh school: or . chestra meet at Spokane, Weslw In AprtL -, J: 1 ... ; . usrness - ! i-. r 1 ! ! f i and High Sts. - Dial - Tuning - Dial Tuning - Dial Tuning x 1 " i v I -i 75 N. Liberty St. phone ites::;' Salem Oregon i i Telephojse.T6a .1 '