C A. Speague .
Earl C. Brownlee
Oheldon F. Sacxett
t publishers
Salem Oregon
.Thursday
February 21, 1920
,d5ftoirial
f&mm v Feaftoires
sBasaGsxaraBBBsaeassEssaBBanasaBBaBBa
i? ' o 1 . 1 "
v,urDing opecuiauye Loans i
fflHE present bogeyman of the business world is the era-
A ployment of vast sums of money in loans to brokers-on
the New York Stock Exchange. The figures of the federal
reserve banks showed a total Tof loans on brokers' collatera
of $5,669,000,000 on February 6, a gain in one year of SI,
834,000,000. The stock exchange itself which has more com
plete figures, showed a total of brokers' loans at the end of
January of $6,735,164,242. The tieing up of such a vast
amount of liquid capital in Wall Street speculation is looked
at askance by conservative bankers and by federal reserve
authorities.
The latter have tried by warnings and by jumps in the
rediscount rate to scare the public out of stock speculation.
The pinch for the federal reserve board comes in this: every
increase in the rediscount rate affects so-called legitimate
business the same as it does stock speculation. The board
can't have one set of rates for one group and another for the
other. This leaves the board afloat in an oarless boat so
far as making for a safe harbor is concerned.
We are not among those who foresee disaster because
some six or seven billions of our idle wealth is loaned to
brokers upon the backing of the stocks and bonds listed on
the New York exchange, surely the finest collateral to be
found in the world anywhere. The loans are enormous, but
so steadily has the business world been warned against their
size and their rapid increase, that it is well fortified against
reaction ; and those doing the loaning are well secured.
We heard the same complaint just a few years, ago about
the magnitude of credit tied up in installment credit. Buy
ing automobiles and radios and washing machines on the in
stallment plan was going to wreck the country without fail.
Somehow the country pulled through, the installment loans
still bulk large, but the clamor against them has quieted
down because the new bogey of brokers' loans has been set
to waving its arms.
The plain fact, which so" many people fail to recognize,
is that we are undergoing a deep revolution in the capitaliz
ing and financing of our industrial development. Corpora
tions are now less and less one-man or one-family affairs
their ownership is widely scattered. Business now instead
of confining its borrowings from banks, is now able to floa
its loans to the investing public on favorable terms. Brok
ers loans represent then, not just wild speculation, but in
many, many cases, the sensible investment of individuals in
the securities of the nation's leading industries, securities
not fully paid for. This is no more reprehensible than buy
lng a farm or a house on a contract.
As this shift in capital ownership progresses we shall
1.1 li Ml 1 1 A! 4- 4- Lkmn
es may bring reactions, but the present situation is not just
. an excess of speculation ; it represents a deep under-current
of change in our economic life. Some new threat will arise
to give our bankers things to worry , about, and this scare
about brokers' loans will be forgotten along with installment
buying, foreign loans, and other financial scarecrows of for
mer days.
The Portland-Yakima Railroad
ANOTHER of those repertorial air castles which makes
papers interesting reading is the guesswork of The Ore-
gonian s reporter that the Southern Pacific may be backing
the; proposed railroad from Yakima to the Columbia river.
We have no inside information but we venture the opinion
that the Southern Pacific can find better uses for its money
within the vast empire it now serves than to try to get from
the Columbia river across the high Klickitat plateau or ever
across the lower Horseheaven country to reach Yakima from
the lower Columbia.
Paper railroads are not nearly so numerous as they usee
to be and filing of articles of incorporation for a railroad if
now so rare as to attract special attention on that account
It is chiefly journalistic buncombe from the Portland press,
which tries to penetrate the Yakima valley with a railrpac1
from Portland. The terrific cost of such a venture would
doom it from the start. Railway engineers are more practi
cal than that, but of course speculative promoters are always
looking for gold bricks to peddle to the gullible public. Port- i
land papers are strong for the, water grade, but in their zeal
for an air line connection with Yakima they do not hesitate
to scale the heights about rlount Adams and bore 17,000
foot tunnels. -
The Yakima Republic has ' the following comment tc
make respecting the schemes of the railway promoters:
"The country between here and Portland, direct, would be Im
possible for a railroad. To get out of the valley to the top of thr
ridge between the Yakima and Klickitat watersheds would cnUll
enormous expense, and to cross the Klickitat and Its tributaries south
r Mount Adams la a railroad undertaking that under any conditions
we know now would be so costly that it is prohibited. Engineer
Dwlgbt Redman 'told the Toppenlsh Commercial club all about that
. . I. - J FTl 1 It LmmuI 1 .nmhln .Knnl
a lT.OOO-foot tunnel over there.
. "Talk about a shorter rail connection between Yakima and Port
land that will be furnished 'by n syndicate is, under any conditions
we know about now, merely blah-blah.'
Senator Reed's Valedictory
OENATOR JIM REED made his valedictory in the U. S
O Senate an invective against prohibition. All his powers
of scorn and vituperation were massed in his onslaught on
the prohibitory law. Reed chose this as the outstanding is
sue upon which to stage his farewell appears in national
legislative halls. Yet this burning issue, this "greatest of
all crimes" is precisely the same issue which Jim Reed, can
didate for the democratic nomination, said was not a cam-
taign Issue. Reed who now charges fiercely against the
Volstead act is the same Reed who tried to pussyfoot into
democratic"" favor by soft-soaping the issue he now rides
upon. ' . , !,.;; ' :
: But Reed does drive home some shafts which ostrich
beaded prohibitionists ought to ponder. It is true that liquor
still flows too freely. It is true that genuine attempts at en
forcement on a national scale have not been made. It is true
that! educational programs for temperance and for self -re-
. : 1 a . m m A.1 1 . . &
strains nave Deen negieciea in iavor 01 mere prauug auuui
the law. Friend and advocates of prohibition have great
bWama 4Yw vmbVa 4-Via 1m a nrvAoa mvA f Via trmaf.
fcen n an q vaVA w nwv wv mm w wwwp-p s
est task Is the education of people in respect for law and in
the hazards: of Iiauor indulgence.
Reed is "all wet" when he praises the virtues of liquor!
dealers in Dre-Volstead days. Booze interests have always
fwm lawless. corruDtlnir and criminal ' in their tendencies.
That characteristic has not changed since liquor itself be-
mme outlaw. . Comnared with the ideals 01 its advocates pro
hibition is a failure; compared with the vicious conditions of
open saloon days, prohibition even as it is now, is a vast im
provement. ' -; 1 i " ..
-1 Emerald Drops Editorials
mHE Oregon Emerald, student daily at the University of
X Oregon, announces that.it will experiment by dropping!
its editorial column and substitute letters irom its reaaers.
The Emerald is following the example of the Boston Tra
veler (not Transcript,' Mr. Emerald writer) which gravely
announced the world was tired of editorials so it would print
them no more. Just a few days the Traveler tried the plan,
then announced that its readers wanted editorials, so their
miblieation was resumed. i, vi k
We hope; it Is that way with the Enerald. Its editorial
comment has been above the average in topics, in treatment
and in style. ( Nor does it speak well for the school of jour
nalism at the university, under whose auspices the Emerald
is produced, that the Emerald should abandon its column of
editorial comment." v' ! .
The Fortunes of War
Editorb Say:
Old Oregon's
. Yesterdays
Town Talks from The States,
man Our Fathers Read
February 21, 1004
Local politics in Marion county
are beginning to be pretty lively,
although the republican central
ommittee meeting does not meet
or another week.
The Liberty Good Roads lea-
Tue met, with a debate on "Re
vived, That the wide wagon tire
a a benefit to the roads" being
he feature of the program.
About $20 was realized as a re
mit of the "afternoon" given by
the Salem Woman's club. The
noney will be used to help furnish
Dne or the rooms in tne high
chool building.
no serious
cons ideration
w h a t e t er to
Quong Hing, Salem Chinaman, the suggestion
Who's Who & Timely Views
Value of Plane Carriers Outlined
By CONGRESSMAN FRED A. BRITTEN take their places.
Portland Is making a valiant
effort to authorise the construc
tion of a shortcut road from that
city to the Tillamook beaches.
That is the objective of Senator
KleDDer's bill before the legisla
ture, and he and his cohorts have
struck bard to achieve it.
In spite of the fact that such a
road would offer a shorter route
to the beaches from Portland than
does the Columbia river highway
through Astoria, this community
is not disposed to turn thumbs
down upon the project. While con
eeivablysuch a road would divert
some traffic from this community,
it would on the other hand be the
means of increasing the traffic to
the beaehes of this county and
would complete a loop road which
would bring marfy of the beach
travelers through this city one
way or the other. .
However, this community has a
right to object to the diversion of
funds from the Roosevelt highway
to this new road. The coast high
way has a clear claim to priority
over any new road, in the dis
tribution of state highway funds.
The proposed new highway from
Tillamook to Portland, desirable
as it la, should await its turn as
the Roosevelt highway has had to
await its turn. Astoria Budget.
NONSENSE ON EDUCATION
President Hall of the Univer
sity of Oregon told the Joint way
and means committee of the legis
lature at Salem that "if men and
women of the state would drop a
cigar, a cigarette or a lipstick in
to the education, fund occasional
ly, there would be no shortage ol
funds with which to conduct in
stitutions of higher learning." He
was appealing for appropriations
greater than many members of
the legislature think that the tax
payers can afford to pay.
It is doubted if he made a fa
vorable impression with that argu
ment, for it is based on futile ex
pectations, says the Spokesman
Review. Funds to maintain the
schools,! colleges and universities
will not be had in that way. The
are derived from taxes, and taxe
come out of industry and business
Public revenue can't be raised b.
asking men and women to tos
the price of a cigar, cigarette o.
lipstick into the educationalfund.
That wouldn't bring enough rev
snue to support a one-room rura.
ichool. Walla Walla Union.
Chairman, Naval Attain Oommltt
(Fred Albert Britten was born at Chi
cago, 111., Not. 18, 1871. He wai educat
ed in the public schools of that city and
business collere. Since 1804 ha has been
in the reneral boildinr construction busi
ness. He waa alderman of the twenty-
third ward in Chicago from 1908 to 1912,
ami chairman of the eirit aerriee com-
ission in 1909. He ha been a member
of con tress from the ninth Illinois dis
trict since 1913, his last term expiring
next rear, and t a Republican ).
VIATION enthusiasts need
not fear the scrapping or
decommissioning of the Lex
ington or the Saratoga. It will
not occur. I am quite sure that
the house committee on naval af
fairs will give
Sunday will shoot off 1200 worth
it firecrackers at 264 Liberty
street in celebration of Chinese
Xew Tear.
Poeinnis
t)hafc Live
1
rO AENONE
, i Chicago police needn't worry about the ganffs.
ecm pretty able to take care of themselves.
.They
W
is it
'HAT conscience, say.
in thee, ;
When I a heart had one,
To take away that heart from me.
And to retain thy own?
For shame or pity now incline
To play a loving part:
Either to send me kindly thine.
Or give me back my heart.
Covet not both; but if thou dost
Resolve to part with neither,
Why, yet to show that thou art
jutt,
- Take me and mine together!
.Robert crrJcfc 1S1-1C74
SMJPPMMS
GIVE!
of scrapping
either of these
ships or even
to their decom
missioning in
the interests of
economy.
In all of the
maneuvers with
the fleet the
Lexington and
Saratoga have
clearly demonstrated their great
value, both In offensive and de
fensive warfare, while as scouts
for locating the enemy it is im
possible to calculate how many
cruisers would be necessary to
9f3XO A.BA1TTOM
With from 80 to 125 planes op
erating with each carrier, they
immediately assume greater com
batant value than any aviatior
field in the United States. Fo
coast defense they are superior t
our most formidable land fortifi
cations.
If these ships have any value at
all, it must be in their constant
use. Unless pilots are flying front
the decks of the Lexington and
Saratoga In war play and maneu
vers with bombing planes, combat,
pursuit and other types of plane;
in constant practice, the ships
might just as well be scrapped.
To decommission them would be
worse than scrapping.
I would not trade a plane car
rier for our most formidable
dreadnaught.
Great Britain has six plane car
riers of fleet speed totaling 107,
550 tons, nearly twice the ton
nage of our Lexington and Sara
toga. Japan has 63,000 tons, al
most equal to the 66,000 tons of
our first-line carriers, and almost
up to her tonnage limitation at
prescribed by the Wasbingtor
treaty.
Both Great Britain and Japar
have long recognized the snperioi
value of plane carriers, not onl:
for combat with enemy planes bu
as distinctly offensive vessels tc
go along with the first-line dread
naughts.
Kellogg Opposes Change
In World Court Protocol
Hi
The Joint resolution introduced
by the special committee on ad
ministration providing for a cab
inet form of government safely
went over the senate hurdles Tues
day and will now go to the house.
The resolution provides for the
reorganization- of the state gov.
ernment into nine departments
and the governor. !
Senator Joe Bailer said that
while, he favored the principle ex
pressed' in 1 the resolution, be
thought the attorney general
should be elected rather than be
appointed by the I governor, i -He
said thJa ' practice ! had been- fol
lowed in other states where ' the
cabinet form of government had
been adopted. :. i f . . " V-
The resolution will be referred
to the voters at the next general
election.
IRISH GENERAL NAMED
DUBLIN. Irish Free State. Feb.
20. (AP) M aJor-General Sean
MeKeon today was appointed chief
if staff of the Soars tat army. '
WASHINGTON, Feb. 19. (AP)
Secretary Kellogg in identic
notes to the nations composing
the world court said today ' that
the proposed revision of the tri
bunal's protocol in relation to the
fifth reservation of the senate for
adherence would not furnish ade
quate protection for the United
States,
The secretary of state suggest
ed the possibility that the inter
est of the United States might be
protested in the protocol in some
other way or by some otner ior-i
mala.
The portion of the fifth res
ervation declaring for public ses
sions on the court's advisory opin
ions and the other four senate
reservations already have been
adopted by 24 of the world court
governments in a 1926 confer
ence.
Part of the fifth reservation,
however, which states aay advis
ory opinion touching on the Unit
ed States should be first consent
ed to br this country was not
agreed to by the nations. 1
The i communication of the
state department head was deliv
ered to the Washington diplomat
ic representatives of the nations
Interested. - 3 ,. t
"The government of the United
States," said Mr. Kellogg, "feels
that such an exchange of informal
views as is contemplated by the
24 governments, should, as here
in suggested, lead . to agreement
upon soma provision which In un
objectionable form would protect
the rights and interests of the
United States as an adherent to
the court statute, and this expec
tation Is strongly supported by the
fact that there seems to be little
difference regarding the substance
of these tights and Interests
Conferences IteraUetl
la connection with " Kr. Kel-
logg's communication t o t h c
world court governments, it is re
called that Eaiau Root, who sail
ed Saturday for Geneva, to attend
a meeting of jurists to consider
revision of the court's protocol
held a series of conferences here
with President Coolidge. Secre
tary Kellogg , and various senat
ors. Secretary Kellogg in his note
reviewed the conclusions and rec
ommendations of the 1928 Geneva
conference of world court signa
tories which accepted the first
four senate reservations and also
the portion of the fifth reserva
tion.
- "The government of the United
States." said Mr. Kellogg, "de
sires to avoid in so far as possi
ble any proposal which would in
terfere with or embarrass the work
of the counsel of the League of
Nations, doubtless often perplex
ing and difficult, and It would be
elad If it could dispose of the sub
ject by a simple acceptance of the
suggestions embodied in the final
act and draft protocol adopted at
Geneva .on September 23. 192.
r More Discussion Asked
"There are. however, some ele
ments of uncertainty in the basi
of these suggestion which would
eem to require further discus
sion. The powers of he council and
te modes of procedure depend up
on the covenant of the Leagueof
Yations which may be amended
at any time. - The ruling of the
iourt In the eastern Carelia case
nd the rules of the court are also
abject to change at any time. For
these reasons, without further fa
mily I Into the practicability of
the suggestions, it appears that
he protocol, submitted br.the 24
Governments lit relation to tbe 5th
reservation of tbe United State
senate would not furnish adeouate,
protection to the United . States.
"MOXTASTA FBREZES
SHELBY. Mont, Feb.: 20. (A
A; TerUabIe blixzard : w
Mowing here today from tbe west
The temperature was 22 below.
Ui PIP
HELD AT BROOKS
BROOKS, Feb. 20. (Special)
Mrs. Charles Coffindaffer en
Pertained with an attractive Valen-
une pany weanesaay anernoon
In her home on the Pacific high
way, having as her guests mem
bers of the Brooks Camp Fire
gifls. The living rooms and din-
'ng room were decorated in keep
ing with the valentine motif.
lovely bowl of red tulips centered
the luncheon table.
Attractive heart shape basket?
filled with heart shaped candy
favors marked covers for Miss
Doris Wood, Miss Edna Lesher,
Miss Hatel Nys, Miss Ina Lesher,
Miss Gladys Otto, Miss Emmaline
3ears, Miss Lena Rlggl, Miss Hat
tie Ramp, Miss Irene Sturgis, Miss
Bessie Aspinwall, Miss Margaret
Wood and the hostess Mrs.
Zharles Coffindaffer.
A lovely valentine box with val-
sntines for each was presented to
the guests of Mrs. Coffindaffer.
Bits for Breakfast
r By R. J. Hendricks
To the legislators:
Tou will be glad to know that
good and economical use will be
made of the old reform school
land that is now under the charge
of the penitentiary management
And a lot of work has already
been done, in plowing and prepar
ing for the crops that will be
grown there ,
And they will be big crops; all
the land can be made to produce,
under the conditions.
And the number of hogs will be
increased -to 800: the band of
sheep to 100, and the chicken
flocks to at least 400; with white
Leghorns for layers and Rhode
Island Reds and Plymouth Rocks
for general purpose fowls.
The dairy herd will be Increased
to 65 cows; bred up to the high
est notch.
The program Includes 260 tur
keys annually, and it is planned
to keep 1000 Belgian hares, to eke
out the meat supply.
On Monday, there was another
record number of inmates at the
penitentiary, 726. It was 723 at
noon yesterday. But it does not
matter so much about these rec
ords being broken any more, so
far as the taxpayers are con.
cerned
Because the institution Is on
Its way to self support, with every
tingle able bodied Inmate at work,
and a large proportion of them
employed in the Industries that
yield a net and mounting profit;
chief among them being the state
flax Industry.
appropriated to the revolving f
the program that is now ur'
way will bring that industry to
point of using the product of r
000 acres of flax, the treatn
of which, up to the fiber eta,
will render the penitentiary .
supporting; absolutely; ami
take all the labor that can -spared,
even up to a much h .
record attendance than the n v.
Monday.
Some of the farmers of the va
ley have lost their late sown f .
oats, on account of the re
freezing weather. That seenis
have been the greatest farm inl
from the cold spell.
A number of these farmers in
several -different sections, have
asked for! flax acreage. Rut
more canbe contracted for h.
cause thefull complement that can
be handed for this year la alroadv
written up that is. 450$ acres
against the 3000 of last year.
It Is Just too bad that the sta
could not step In at this time an
take a larger flax acreage. Hut :
could not be handled, with t!
present facilities, even If the m
ney were in sight to par the fan
ers for their flax.
But the plans decided upon m ,
and under way will bring i:
available supply up to the prod.,
of 10,000 acres In a few yea:
Perhaps it may be 6000 acres n.
year, 7500 in 1931. and up t -
10,000 acre point by 1933.
In the mean time, there wiif
private threshing, retting ;u !
scutching plants, if the ways ur: ;
means committee of c o n g r t -grants
the request for higher pr .
itective duties on fiber, which
Without a cent ever again to be pretty clear certain to happen
Big Oil Firms to
Participate With
Price Reductions
Dinner guests of Mr. and Mrs.
A. E. Harris on Sunday, were the
Rev. D. George Cole, pastor of
tne Brooks community Methodist
church, O. E. Epley, and hit
daughter Gladys Epley.
bouthern Pacific extra gang No.
16, which is under the suDervis.
ion of R. W. Perry, has returned
to Brooks after spending about
ten days shoveling snow at Fields
which is located on the Cascade
line about six miles from Eugene.
Dinner guests of Mr. Molsan's
mother, Mrs. Mary Moisan on
Wednesday evening were Mr. and
Mrs. G. J. Moisan of Oervain
Robert Nusom of Woodburn
was calling in Brooks recently
and looking after his place here.
Jesse James Jr.
Is Plaintiff in
Court Litigation
LOS ANGELES. Feb. 20 I Am
Jesse James. 56. son nt k.
famed outlaw, was a nlainttff in
court here today, seeking redress
for claimed financial wrongs.
Junes brought suit against the
Famous Players-Laskv mtt.Atnm
charging that they bad agreed to
pay mm sio.ooo for his aid In
filming the story of his father'a
life, but that be has received only
1600. He said be lent costumes
and acted as technician, consult
ant and writer.
Government Sees
Defeat in Of fing
LONDON, Feb. 20 (AP) The
government was near defeat in
the house of commons last night
through dissatisfaction of Its own
supporters over the anestlon of
compensation to. loyalist sunnert.
ers In the Irish free state whose
properties had been destroyed or
taken over. Prime Minister Stan.
ley Baldwin was hurriedly sum
moned and saved the situation bv
Tirtually throwing over . Winston
nurchllu chancellor ; of the ex.
Ttquer. and L. C S. Amery, sec-
nary oi siaie ipr tne colonies. ,
SAN FRANCISCO, Feb. 20.
(AP) Major oil companies en
tered Into the gasoline price war
here today and the wholesale
price reduction found retail quo
tations fluctuating from 13 to 19
cents a gallon on a demoralized
market with members of the re
tail service station dealers asso
ciation working' the war. They
have called a meeting for Thurs
day at which they hope a stabil
ized price can be established.
While most of the garage and
property owner's association mem
bers quoted a retail price of 1 4
cents, all members were furnish
ed with 13 cent signs and author
ized to retail at that price If they
"considered competitive condi
tions warranted." The price, offi
cials of the association declared,
was entirely optional.
MPPflOV
ES
T
New Cold Wave
Hits Mid-West;
Mercury Down
CHICAGO. Feb. 20. AP)
Another col dwave rode through
the middle west today on the
-rest of a heavy snow storm that
hampered traffic and added to the
iiscomforts caused by a dozen
tther zero snaps that have pre
eded It.
The snow was expected to be
followed tonight by a tumbling
mercury with sub-zero readings
general tomorrow from the Rocky
mountains to the Ohio river val
ley. A little moderation is ex
pected by tomorrow night with
higher temperatures by Thursday.
Temperatures in the Dakotas
within the past 24 hours were
from 30 to 42 degrees below zero
and sub-zero readings were re
ported from many parts of the
lorthwest.
Former Action Placing Club
on Blacklist Will be Re
scinded, Word
Mexican Revolt
Put Down With
Little Trouble
MEXICO CITY. Feb. 20 (API
The war department this eve
ning announced that the situation
in the state of Sonora was normal
and that there had been no troop-
movement or. any kind there or W
the vicinity. The military com
mander of the state made the of
ficial report to the department to
day that everything was quiet.
Rumors had been current In
Mexico City for several days that
a subversive movement bad ap
peared or was about to appear in
ma ooraer state.
VATICAN CITY. Feb. 20. -(AP)
International Itotary i
about to be Riven a clean bill of
health by the authorities of the
rmiy rcc. fifiiauiy informed cir
Mes of the Vatican tonight saM
'his reversal of a former ruling
-aa duo largely to the favoraM'
!mpression created by I. I). Sut
ton "of Tampico, Mexico, who i
president of the International organization.
Mr.l Sutton came here in tlx
face of a ruling against Rotary
by the consistorial congregation
that members of the priesthood
would not be allowed to Join Ito
tary clubs. This ruling came
shortly after Osservatore Romano,
the newspaper used by the Vati
can for its public announcements,
had condemned the organization
tor its alleged practice of inculca
ting a religion "without God."
Mr. Sutton, himself a Roman
Catholic, Interviewed a number of
the princes of the church and con
vinced them that his organization
respected all creeds. He also told
them at least 350 prominent lay
men and clergymen of the church
were active Rotarlans In the Unit
id States and the fact that one
particularly prominent layman
had been a member of a certain
Rotary club in Indiana I faF- 1 -
years was emphasized. 1
Tbe task of the international
president was lightened by th-
fact that he understands Italian
and, after. a 25 years residence in
Mexico, sjieaks excellent, Spanish
OREGON VOTER MAY
DE IIWESneiTEO
Legislative investigation of !he
Oregon - Voter, of which C. C.
Chapman is publisher, was de
manded in 1 a communication re.
ceived by President Norblad today.
The letter was etgned by Senators
Joe Dunne and Hall, and was read
by the clerk.
The letter requested that the
committee appointed to conduct
the investigation be given author
ity to subpoena witnesses admin.
later oaths and employ such cler
ical assistance as is neceasary.lt
was requested that Mr. Chapman
be compelled to furnish the Com
mittee a complete list of persons
and corporations subscribing to
his legislative service and the
amounts to be paid by each.
A LIVING trust will place
the work and responsibil
ity upon us for making all or
part of your investments.
A thousand dollars or more
is sufficient to 'rtarttk.;More
may be added at any time. . j
;o.