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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (March 19, 1929)
The New OREGON STATESMAN, Salem, Oregon, Tuesday Morning. March 19. 1929 i BEARS U1CH -DRIVE ON IRT Stock Prices Weaken After See-Saw Movements f Throughout Day NEW YORK, Mar. It. (AP) Control of th stock market hlfted btwea opposing faction! In a moet confusing manner today, -wltn the Bear gaining the ad TanUge In the lart hour, when call money began to tighten. Profit taking was heary through out the session, particularly In tho radio sharef . the old Blocks losing 49 points of 103-pound gain of uat week, but operations for the advance aided by merger and tock splitup rumors, met with marked success In various sections of the list, particularly In the cop pers, rubber, railway and office qulpment issues, and specialties. Call Money Higher The expected stringency in call money this week, resulting from the sending of the Income tax -wv. the, banks for payment. Ca7V . made its appearance with an in crease In the rate irom 10 e p cent. Time money held firm, with practically none available under S per cent. The old radio shares fell hack to 500, while the new shares aold at one time below 100, but closed at 101. Victor .Talking machine, however, which is being consoli dated with radio, mounted. more than 24 points to a new top at 200. M mm Baldwin locomotive soared 1 points to a new 1929 peak at 2R. on rumors of a four-for-one split up and revival of reports that the -..tton-Vihfr interests are plan ning to merge It with Westing- house. Otis elevator, axso men tioned in splitup rumors, shot up 15 points to a new high. Metals Show Strength The non-ferrous metals were Muntir itTonz. national lead mounting about 10 points to a new top at lt. and Greene Can ' adean gaining new high ground with a lump or more man pomie. Anaconda, Nevada, Miami and Kennecott also tallied new peaks, hut reacted toward the close. U. 8. Steel lost more than a point, but Yougstown sheet ana, tune ana Foliansbee both gained new high ground. Underwood Elliott Fisher sold up about 6 points to a new top. A similar pain in national cash reg ister revived talk of a merger of these companies, but this was de nied by Underwood officials. It was stated that Underwood's earn ings are running at the rate of about $10 a share this year. Bur roughs adding machine also reach ed new nigh ground. S E NEW YORK, Mar. 18. (AP) An executive meeting of the di rectors and paper committee of tha American Newspaper Publish ers association called to consider news print priees and contracts, tended today without a public statement of its result. "The entire news print situa tion was fully discussed," said I B. Palmer, general manager of the association, "and a. statement will be prepared as toon as possible and issued to members in the form of a bulletin. "Meanwhile the committee sug gests to the membership that con tracts for a longer period than the current year be not entered Into without serious consideration and study of the future of the news print market The purpose of the meeting, Mr. Palmer said, was to "consider con ditions resulting from recent an nouncements by manufacturers of a price somewh? t higher than naa been expected in some quarters and the offering of five year con tracts by one of the major pro ducers. XO. rnopii, Bf the Annual Statement ef tae Banker Life Company ef Dee Moines. In the fltii, of Urn, on tee tairtr-firrt 4r of !.. Tr,hr. 1828, made te the aura n- Cav.misaiener at the Stat ed Or?OB, pursuant to lawt CAPITAL . - -Aaennt at capital atoek fM , none. JXCOME Total premium - income (o tae year, f3A.883.-36.33. Interest, drrtdradt an rente reeetTed during tba year, $3,203,033.61. ini-ome from other soarces received der tar tha Tear. 1.341.945.41. . . Total laeooie. S3T.538.215.S5. IISBrRSEJEXTS Paid for loase. endow meats, aaaJUaa end surrender Taint. ll.511.9MJtS. Divideai paii to polieyaolders darinf the rear. $3,510,200.81. Dividends paid ea capital stack darinf tfco yaar. none. Commission and rstariee paid dariag tie year, S4.85fl.S56.85. Taxes, lieenae and fee paid daring tha yaar. 8771,724.04. Amount of all ether expenditures, fl, 44.150.78. Total expenditure. 23,498.029.J8 ASSETS Talue ef real estate owned (market value), 13.157,036.10. Value f stock aad bond, ewned (mar ket or amortised value). 318,787.388.31. I.aBa on m.ri -- end collateral, etc., 73,894,583.80. Pr-miam aotea aad policy leeae, $15, 06.018.01. Cae ia bask acd ea hand, $ 1,488, 81.41. - . Set - aaeont rolled aad ferred prem ium, 4,728.905.06. t Interest and rent a doe end eeefeed, 2.804.157.9?. Other starts (net) leva n oa -admitted a a eat miBBs $658,132.07. , Total admitted art. 3118.419,417.04. LIABILITIES Xet reserre. $103,105,130.50. Oroii claim for lossee unpaid. 31,123. 93.00. All other liabilities. 9.557.517.83. 'oating-nry Becerre. $4,623,080.71. Total liaKilUiea.-exeluaive e4 capital etafe: 0f Kaee-Sfataal Ce- $118,410.- 417.04. BrstKtss i Oregon FOB THE TEAK wreae premiame received Caring the 7ar. $429,966.61. I , Premium and dieidenda retaraed dur ; the year. $39,771.53. Leasee paid duriar tha year,' $115,477. Nam ( company Beaker Life Com pany. Same et president . B. Kollea ' Name of 8rrta-r n V. If ill . Rtatnterr reicat etteraey fer eerrke NEW FFllfIT ST MS cn BED Exact Authon ty of High Education Board tobe Piit . Upto PORTLAND, Ore. Mar. II. ' The Portland Oregonian declared Sunday- that a proposal will be made to Oorernor Patter son Wednesday by Prank J. Kil ler, member of the Normal school board of regents, that a strit be Instituted to determine the con stitutional points raised regarding Senate Bill lit, or the Bell Schulmerlch measure which cre ated a board of higher education to control the nnlrerslty, the State college and three normal schools. The Oregonian will say that if some of the contentions are cor rect. It is within range ot possi bility that a special session of the legislature may be called to un tangle it. Friendly Suit Wanted "Miller, former senator and for seTeral years a member ot the public service commission, sug gests that a friendly suit be start ed with a member ot each of the three boards of regents as plain tiffs. Although Gorernor Patter son and State Treasurer Kay are quoted as expressing belief that the millage for maintenance ot the Institutions has not been dis turbed by the law and does not affect the six per cent limitation pro-visions. Mr. Miller says that a cloud has been raised orer the Bell-Schulmerich bill and that the best procedure is to take the mat ter into the courts to ascertain what's what. It the courts are not appealed to now, someone in the future may inaugurate a suit which may botch up the financial and taxation program of the state. AT TRIAL OF 0IIII PORTLAND, Ore., Mar. 18. (AP) A confession of Blurton Baker, Klamath Indian charged with the murder of BidweU Rid dle on the Klamath reservation, was introduced la the court to day la the process of Baker's trial. The government rested its case late this afternoon. Testimony of the defense, which probably will take two days, will attempt to prove that Riddle was struck down by Baker after he had chased and endeavored to at tack Mrs. Baker. Riddle and Bak er admittedly had a quarrel. The government contended that Baker slew Riddle at the scene of the fight and then hid his body. Perry John, another Klamath Indian, charged with second de gree murder in connection with the killing of William Ward, white, at Chlloquin February 7, was brought into court today but the trial was sot. for Thursday. The murder, it Is alleged, oc curred following s "drinking bout." 40 Kiwanis Pairs -Invited To Go To Portland Meeting No less than 40 couples are ex pected to represent the Salem Ki wanis club Tuesday evening, March 26, at an inter-club meeting to be held in Portland according to word received Monday by Ralph Cooley, president of the club here. Salem Kiwanlans will hare 30 minutes in the program In which to advertise the convention here next August. Already special stunts are being arranged for the evening with the Idea of providing an entertainment which will show the clubs of the state how well Salem is preparing for the summer meeting. "0)11 nssKii) OA this noon by the Great De Zito Watch these beautiful cars respond to every touch of the blindfolded " dver. er Highest State Court Six Per Cos Ievae Cited , "Among the various conten tions made is that the bill repeals the millage voted by the people and authorizes a lory of 2.04 mills, which Is the total ot the present millages; that by doing this the legislature placed the millage within the six per cent limitation and it this is true, then little money will bo left for the rest ot the stats activities, such as the penitentiary, hospitals and other institutions: that the bill carries an emergency clause, which is not permissable on a tax measure. These are but several ot a number ot points raised. '"The legislature intends to con solidate tho schools under one board and have this board- handle all the funds, but the bill is said to have been so carelessly drawn that its constitutionality is in doubt as well as its effect on the finances. Starr's Attitude Omitted "Friends of the Oregon . State college are quite content with the directorate as It stands, as at least six of the nine directors are supposed to incline more toward the college than the university. "Already there is a scramble for appointment on the full-time state tax commission. There are to be three commissions, one of whom will be Earl Fisher, present tax commissioner. The dalles pf the three commissioners are speci fied in the law; one is to handle valuations of utilities, another the valuations of all other taxable property, and the third la the fi nancial officer. Governor Patter son would appoint John H. Carkln on the commission it Carkln would accept, but there are two good reasons which make such appointment impossible. The first Is that Carkln doesn't want the place, as his law practice pays him better, and the second is that he la prohibited from holding an of fice which, as a member of the legislature, he created. Ben Wert Is Applicant "Several county assessors are active applicants for a place on the commission. A. A. Anderson, of Deschutes, has his hat in the ring, and Ben F. West, former as sessor of Marlon county, has the support of the republican county commission ot Marion. Frederick W. Skiff, long associated with a department store in Portland, is the choice of a number of Port landers who are clrcnlarizinr members of the state board of con trol, recommend him. . J. B. Cole man, assessor of Jackson county and a member of the property tax relief commission, would have plenty ot backing if he wants the position. Hiram U. Welch, as sessor of Multnomah, is also In the eligible list, if he wishes to submit his name. Henry E. Reed, former assessor of Mnltnomah, and one ot the leading students of taxation and assessment In Oregon, is being mentioned, but it is not known whether he would accept. Charles V. Galloway, for mer state tax commissioner, now In the banking business in Port land, a member of the property tax relief commission, would be the choice of many." Fgqit Growers "Attention Sacrifice Sale Producers Cannery Stock Insures Good Prices Call 1 75 S. High St Phone 534 POMTIAG and ANl CMS Will be used in the n i Hih Street at Trade i PiMD-SPOffiiE m service on - 7 :- PORTLAND, Ore.. Mar. IS. (AP) Lieutenant Jack Rose of the Mamer Flying service, Spo kane, announced today that an air passenger and express service be tween Portland and Spokane will be started within the next two weeks. e - Two planes will be placed In service, he said, making the trip in two hours and forty-five min utes. The fare will approximate the regular railroad fare plus Pull man charges. At first single mo tored planes will be used, he said, but if business increases two new tri-raotored ships will be used. An office of the Mamer concern will be opened here in the next two weeks. Rose said. Famed Old Hotel Razed by Blaze; Insurance Lacked VANCOUVER, Wash., Mar. 18. (AP) Fire Saturday destroyed the St. Francis hotel, the oldest hostelry in Vancouver, which is the oldest town in Washington. The fire started about 10:30 from an unknown cause on the second floor and spread rapidly. Salem Markets Treat Trotta ' (wholesale ejuouulons) gpplee, f. aad . Jonathan, .1.10 -1.1 .3.40 -1.50 01 Bpitseaborg Oregon Rede, flood Bi-er Yellow Newtown - - Bananas, IK Bates California, crate , -5.50 Dromedary, 80, 10-oa. pkgi 6.50 Balk Hallow:. !a . .tS Cona'a Pitted, eaee ; 4.50 Orapefruit, Arls. ease 4.54 Florida, ease 4.2565.25 Comb honey, new crop 4.7 5 (rf 5.50 Lomoaa. CaL 5.00 & 6.2$ Oraagea, liarels 100'a .... ..8.35 e.oo ..5.75 -5.50 -5.0S ..4.00 -.8.50 3.25 -.8.00 3.75 134'e 176e 150'e 178'e 300'e ai'a 353'e 888'e S44'a Vee-vtaMas (Wkolesale Qnotstioas) Seed Potatoos Early Rere, lb. Early Ohio, lb. Earlies ef AIL IK Artieheka, dox. Pea. Calif, lb. Greea bee at, Calif. 03 08 OS .1.40 20 25 Sadiahea. CaUl. .60 Greea Oaiona, The Dalles, do, bo 60 Celery Hear ts, do, baacbaa 1.38 Epiaach. Calif. U. f Spiaack, crate 3,00 (qaash Banana - .,, , ..0 Hubbard, IK Marblehead Carrots, local. Back, H. California, crato 04 04 OS -3.75 .04 17 09 Panmpa Brnssela Sprouts, Calif, lb. Kata bags a Cauliflower, Calif, crate 1.S5 Bunched vegetables, pet sea, nonceee Carrots 80 Beets 0 Taraioa 0 Potatoea Local, Barbanka . Vak. Gem No. 1 Ta. Gems. No. 2. 1.25i -1.50 .1.10 3.75 Sonthern Sweets, crate. Garlic, lb. : .30 -" ' -fc v. Brit Peppeee, Florida, free. IK ,, ,25 Tomatooa, Mesaeaa lag .0 Cniema Saw 'e .,. , . . 4.64 Xe. i .w Coiling; local 8.50 Letteee, leiperieJ valley, erete 4.04.5e Rhabarb. axh crate 8.25, 3.852.33 New potatoes, lb. ,. 17 fSmll rUtM Calf aeemL SS Ike, Patry feed, toa ... ... , , Scratch, turn Cera, whole, toa . Cevekaa aad gretad Kill ram, tea Eras, to .4e.ee .45.00 -47.00 .14.50 S4.e Q.oe 5J Otay-s Meo) Staadard -edimati i .IS as ler . Otay-g Price) Stan -.IS Rooeters. eld Hea-iee JL Medina . 07.0$ 22Q18' -IS -IS Lighte Sfriacera, large - -S4 VegetaMee end rmta tBariag Prieaj Petateea, eerv Tamna. ml i at Oakma, ewt. a if faraaips, IK .01 Carrota Ple faee aad fllloel l.OO Khobar a, IK n Xotrf tWleeele Cartons Priata - Butterfat 4 4S -.4$ Batter (Retain Printa ..SO -51 Cartons Grata aad Bey . Buying price Wheat, westers red, tn. .1.05 Soft white l oa Oat, gray. bo. .as fthite. Bo. .57 Husky High Grade Chicks of the Popular Breeds AH Bred to Lay Imported St. Andreasberg Rollers "The Canary with the College Education" Selected Easter Rabbits ALL KINDS OF PETS "Something New Every Day" The Flake Petland 273 State St. i ' " i., ' 71 For We Ptlsiinidl This is a special Clubbing Rate a nd is Continuoujs from month to month by Carrier service to subscri bers in Salem District. This complete 24 hpr news papei service for little more than the regular price of either paper. Under the new system the carrier will deliver and collect fo? both newspapers. To se cure both newsnapers at this rate notify y our car rier or phone either office. The OFFER Barley. tea -38.04 Uaj Oats aad vote. , -92.00 -S3. OO -18.00 Clerer. ckeieo , Kye erase-aad cheat Idreetock (Baying Prieee) Cowi' . .073.0814 Stesrt, top . Teat feott Balls, good- Hogs, top BeaTy sowa 8priag la be Wethore .11 lt Q 14 -07.08 - u .OSv.OStt ,1 -08(9. OS OS Ewe, tea Dressed (Baying Price) Hogs, top Veal, top -1 HAY PORTLAND, Ore- Mar. 18. (AP) Hay bayiag prieee: Eastern Oregea tint, ithy, $I1.502J; do Taller, S1T0 $17.50; alfalfa. $22.S01; elerer. $17.00017.50; eat hay. $18.00(318.50; straw. $8.00 ten; telling prices $$ ton mere. PXODUCS PORTLAND. Ore- Mar. 18. (AP) Milk raw mUk (3 per cent). $2.55 ewt deJirered Portland less 1 par cent. Hotter (at. statioa tie; track, 46c; de-U-ered at Portland. 4743e. Poultry (Baying prieee) Alire. heavy hens, orer 4tt iba c; medium heat, 3M to 4 lbs.. 21e: light, under 3ft lbs., 18e; ;springa. 262sc; broil era, 32c; ducks. Peking, 26g28c: col ored duck. 1820c; turkeys. No. 1 hen. 3031c; toms, 3334c; cspons. 33 35c Potatoea New ewt.. Gem. No. 1 grade, $1.401.50; fancy Cems, $1.40 1.50. LIVESTOCK PORTLAND, Ore.. Mar. 18 (API Cattle aad ealrefc opening fully act ire. Baby Chicks Telephone 656 c General Markets (SO Wni MORNING AND SUNDAY AND EVENING EXCEPT SUNDAY New Oregon Statesman 215 So. Commercial Phone 500 l-he'-roraand-': il eieffF Salem Office 127 No. High Phone 939 Wrrj. Delzell, Agent BY MAIL MUST BE PAID 3 MONTHS IN ADVANCE few reed steer. 35 cents aider. Xe ceipta cattle 310. Steers (1100-1SOO Ihe.) reed 11.1 5 f 12.O0; de (SSO-ltOO Iba.). goad 11.754 12.25; de 800 and Bp), me&nn 10.75 J 11.85; da eoaafcoa 8.00 10.75. Heif ere (850 lee. down) gaed 10.35910.50: de eeeaeeea 3 (50 010.35. Cows, food 3.00(89.50; de common te mediant 7J5j8.00: de lev eaUer 8.50 7.35, Bella (far Hags sxeladed), geeC beef 8.0083.00; de catter te aaediiiai 7.00 Q 8.00. Gal-ee (500 lba. down), saediaat te ebeice 10.00Q 13.50; do eall to com. men 3:50010.00. Tealers. milk-fed, toed te caeiee-13JS0le0; de mediam 13.0013.50; eall te common 3.00 Q 13.00. Me4 repeeaentotiee ef limits el quality within the grade.) Hogs Opoaiag alaw; taeelpte ST70, iaelaciar 133 direct. Heary weight (J5O-350 Iba.), mediam te choice 10.00 Q 10.75; mediam weight (300-350 Iba.). mediam be ebeice 10.75 11.75; light weight 1 80-300 lba.), mediam te choice 11.75 13.00; light lighu (130-1 80 lb.), medium te ebeice 1 0.75 Q 13.00. Packing aews, rough end smooth 0.00 Q 10.00; alaaghter pigs (70 180 Ibh.), mediam te choice 1 0.505 110; feeder aad stecker pigs (70138 lba.). mediam to .choice 10.35 11.10, (Softer eily kegs aad roasting pigs ex elade la.ebeee e.eetatieas). Sheep and ' lambs Talking eronnd steedy; receipts 470 sheep. (Following quotations ea full wooled baaia): lamba (84-92 lba.), good te chioce 14.00fil8.00: mediam te choice (93-100 lbs.). 12.00 18.00; de (all weight), cul lte commea 11.00 13.00. Yearling wethers (110 lbs. down), mediam to choice 10.0013. 00: ewe (120 lba. down), medium to choice 6.008.00; to (12(V150 lbs.), medium to choice 5.50(3 T IFE insurance constitutes the greater part of the property left by a large majori ty of decedents. Unfortunate ly, most of it is payable to ben eficiaries in a lump sum and soon takes wings. A life insurance trust with this reliable institution will safe guard your insurance for your family. Ask our trust officer for further information. Ladd & Bush Trust Co. a THE Dei Telegram T.50; (an welgbts), eull te eeeimon 3.00050,0. ,.- ; ' ' ' : SAXBtT : POHTlWD. Oro Mar. 18. (AP) Dairy exchange, net prices: batter : ex tras 43; etandards 44 prime lirste 48 h : nrsta 43. ggs: exirss z; f irate 33: aedfa extra 32; mediam firsts tU ' rOaTXetD GXAZaT POBTISI. Ore- Mar. 18. (AP) Cask grain: wheat big bend blaestem, hard white 1.47: soft white 1.30; wt era white 1.30: hard wiater 1.17; north ern spring 1,17; western red 1.17; eete No, 3-38 tb. whIU dO.OO; berley No. 3-43 lb-. W. 87.00; cere Net 8 east ern yellow, shtpmeat 40.00 ; milt ran ataa&ard 29.00. CHXCULOO OKaXbT CHICAGO. Mar. 18. (AP) Detptte aa unexpected decrease ef the Vetted States wheat risible supply total, and notwithstanding unfavorable crap ad rieea from Kaaaaa, wheat raleee todar suffered a aetback. Selling was baed largely ea the faet that prevailing wea ther ceaditiene are good for wheat growth, aad that the dome tie wiater crop outlook taken ee a whole appears te be aupieioua. Official announcement of stocks er wheat in United State country nulla and elevator was made after trading today had ended. The total of theae stock is about 8.500.000 bashels else tha a the latest prirated forecast. Chicage cloaiag quotation en wheat totar were aerToua, 3-8e to le a aaabat. i.,,. nm finished 1 1-So te 1 5-8a off and oats He to 7-8e down. ZSJ am a " ; "