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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (April 11, 1929)
.PAGE SEVEN The New OREGON STATESMAN. Salem, Oregon, Thursday Morning, April 11, 1929 BEARS STILL IN FULLMROL Stock Mart Buffeted About by Abrupt Changes in Speculation NEW YORK. April 10. (AP) The stock market was buffeted about by abrupt changes in spec ulative sentiment today, as the bull forces were unable to attract a public following, in the face of a repetition of yesterday's 10 per cent call money. A sharp rally near the close re duced many of the day's losses, and left the list generally some what higher, although presenting a very uneven picture. Total sales fell off toward the 3.000,000 share level. Confidence Shaken By Series of Breaks Speculative confidence was un settled by a number of skarp breaks. Kolster radio dropped nearly 13 points to a new low at 31, in contrast to the 1929 high of 78 3-4. in selling attributed to weakened margin accounts. It regained about half its loss In short covering. Hupp Motors broke about 5 points to a new 1929 low. Wright tumbled 12J& points, but regained its loss after its favorable report on first quar ter operations. International Tel ephone was again under pressure, selling off about 9 points, but cutting its loss in half later. In ternational paper dropped 7 points on its 1928 earnings state ment. Adams Express dropped 20 points in a small turnover, and motor products 13. Steel Rises Slowly Starting Light ltally U. S. Steel was slow in respond ing to the unfilled orders report, but promoted the general rally in the last half hour with a jump ot more than 4 points. Steels gener ally were firm with the exception of Sloss Sheffield, which lost 6 points on report of reduced earn ings last year. Coppers were bid up on the theory that the indi cated stabilization of the Red met al price around 20 cents had been discounted. Greene Cananea jump ed 6 points. Oils were also brought forwsrd, on the reports ot the rising gasoline demand, Pan Am erican Issues jumping more than 4 points to new highs. Merchandise and official equip ment shares were strong. Under wood Elliott Fisher, Burroughs, Montgomery Ward, and Sears Roebuck mounted about 5 to 8 points. Woolworth mounted on the news of the split up, but reacted later in profit taking. Crex Carpet jumped 6 points to 40, a new high. American and foreign pow er gained 6 point on its foreign expansion developments, and Baldwin jumped 9' on recapital ization prospects. AIMEE KIDNAPING MAY BE REVIEWED 8ACRAMENTO. Apr. 10. (AP) IPossibilities that the kidnaping storv of Aimee Semple McPherson will" be fully gone into in the im peachment trial of Superior Judge Carlos S. Hardy were seen today when the prosecution questioned detectives concerning investiga tions in Carmel and along the Mexican border and with the an that the evaneelist probably will be called to testify Thursday. The assembly board of manag ers prosecuting the impeachment case lay a foundation today on which to question Mrs. McPher son about angles of her story that when she disappeared from her church two years" ago she was kid naped and held for ransom. The testimony of Frank Dewar and Frank Modie. former deputy sheriffs of Los Angeles county, that they were employed by Judge Hardv to find persons on the Mex ican border named as Mrs. Mc pherson's kidnapers and testimony of J. W. Buchanan of a Los An geles detective agency that he in vestigated the "Carmel angle of her disappearance opened the way for the prosecutor? to question Mrs. McPherson regarding these affairs. ROUMAN1A HEARS RUMOR CAROL MAY SUPPLANT SON : wfe , fv 1 L",r II f if Jill "-- - f ,4'J- z:wJSi V - s, Iff ft iv Approach of May 10th, the day when Michael, sevon-year-old king of Rouitiania, will, for the fSnt time, formally assume the duties of his office and will reply to addresses of loyalty from the regency and cab inet, revives rumors of the return of Prince Carol, his father, to Roumania, to act as regent, in accord nee with the wishes of his mother, Queen Marie. Above, left. Princess Helene, from whom Carol is estranged ; center, the boy king, and right. Queen Marie. Below, left to right, Prince Nicholaa, Mich el's uncle'and one of the regents; center, Mme. Lupesco, whom Carol wishes to marry, and right, Prince CaroL Queen Marie and Carol are said to have conferred in Paris concerning her son', return to Rou flsania since she is declared to be dissatisfied with the refcencv. W MOVES TO CURB OIL OUTPUT WASHINGTON. Apr. 10. (AP) Secretary Wilbur moved today to curb production on two govern ment oil fields one the Kettle man area near Los Angeles, and the other in New Mexico where the Texas company bored through sandy desert land to find petro leum. In the case of the Kettleman field the secretary asked four com. panies operating in the area to arrange a cooperative program which would conserve its petro leum in the ground instead of bringing it into a congested mar ket. The secretary of the interior has the power to ask companies operating on government land to cooperate as far as Is considered reasonable in conserving natural resources. The ruling affecting the newly discovered southwest New Mexico field was the result ot a hearing held before the secretary recently concerning the operation of the Texas company on what is gen erally termed a "group develop ment." The company has drilled a number of wells over a wide area covered by a number of per mits issued to individuals who in torn asked the Texas company to perform the actual drilling work. FARMER FOUND DEAD Daniel Engleman, who operat ed a farm on Bethel creek, 10 miles south of Bandon, was found dead Friday morning in his cabin. He was 65 years old and had ap parently been dead for several days. Telephone Firm Is Incorporated For Large Sum The Northwest Telephone com pany, with headquarters at Hills- boro and capital stock of $100, 000, has been Incorporated by Charles E. Wells, Earl W. Gates and E. L. Gheen. Articles were filed in the state corporation de partment today. Other articles follow? Twentieth Century Stores. Portland, $5000; R. C. Bradshaw, James Powers and M. L. Brown. Sitka Spruce Pulp & Paper com pany, Nevada corporation with headquarters at Reedsport; per mit issued authorizing company to operate in Oregon. texis euiri IS PLACED ON TRIAL NEW YORK. April 10. (AP) Texas Gainan of the night clubs went on trial In federal court to day and before the first witness was halt through his testimony she annonneed with a smile as bright as Broadway that she was going on a diet "In preparation for prison food." From the first bang of the gavel the taffy haired lady of the whoopee places did her best to show that she could be the life of the party even when she wasn't being paid for It. The first witness against the diamond bedecked Miss Gulnan, who is charged with the misde meanor of maintaining a nuisance in the Salon Royale, was James J. White, a Washington prohibition agent. He told ot going to the Salon Royale several times about a year ago and paying $20 a quart for whiskey and $25 for champagne. He says he saw waiters slip bottles wrapped in napkins into the laps or patrons, some of whom had to be helped to the street. Miss Gninan seemed to enjoy it all hugely. Before the trial opened before Judge Edwin S. Thomas of Con necticut Miss Gninan and 10 co defendants were given a chance to plead guilty, an opportunity quickly seized by all but Miss Guinan. "They are Greeks and don't know what guilty means," she said to the eo-defendan said of the co-defendants. 1 will fight this out if its the last thing I do in my life." Cross examination Indicated that the defense would be the as sertion that Miss Guinan was neither owner nor manager of the Salon Royale, but merely em ployed there as hostess and enter tainer. In her several appear ances before United States com missioners she has steadfastly maintained this to be her sole status In tne night life ot New York- ILLINOIS TO HAVE WEI BEFEDEIIOUM SPRINGFIELD, 111.. April 10. (AP) A referendum on the wet and dry issue in Illinois was declared to be virtually assured tonight by anti-prohibition lead ers, following a day of legislative jockeying in the state general as sembly. An anti-prohibition measure, providing for repeal of a search and seizure act, to which the ref erendum clause was attached, was passed to third reading in the lower house by a vote of 76 to 61, one vote short of the number necessary to send the bill to the senate for confirmation. A num ber of avowedly wet representa tives were absent when the roll was called but have announced they will be present when the measure is put to a final vote. y. In support of their claims wet leaders pointed out that although the repeal measure appeared doomed previous to attachment ot the referendum amendment, a number of conservative members announced themselves favorable to it as soon as the clause was added. Little opposition to the measure is expected by them to be encoun tered: in tne senate. MOIL JERSEY CLUB PLANS MEET WES WILL T BE THE CENTER EUGENE. Ore., April 10 (AP) That the Pacific coast is to be the future center of the world's trade is the opinion of L. W. Hart- man, vice president of the John L. Steeb and company, Portland, and president of the Portland Shipping club, who spoke Tuesday at oppor tunity day sponsored by the school of business administration at the University of Oregon 'or students. White the orient is undeveloped at the present time, it is only a question of a few years until its 800,000.000 of people will offer an enormous market for American products. It is the duty, Mr. Hart man believes, of American busi ness to educate the orient, espe cially the Chinese, to use their great wealth which lies dormant and rotting. Until it Is available, the orient will have no means of buying our products. The great in strument to use in this education is research. NEW YORK. Apr. 10. (AP) Samnel F. Crabtree, president ot the American Jersey Cattle club, announced today that the club will sponsor four regional Jersey shows in 1929. The shows will be: The Pacific international livestock exposition in Portland, Ore.. October 26 November 6; the dairy cattle con gress at Waterloo, la., September 30-October 6; the Kentucky state fair at Louisville, September 8-15, and the eastern states exposition. Springfield, Mass., September 15 21. Eleven Pacific coast and west ern states will be represented at Portland Washington, Idaho. Montana. Oregon, Wyoming. Cali fornia. Nevada. Utah. Colorado. Arizona and New Mexico. The Judge will be J. L. Ridgway, pres ident of the Mistletoe Creameries of Fort Worth, Tex. At all four shows there will be special American Jersey cattle awards, and some of the regional winners will be shown at the na tional dairy show in St. Louis Oc tober 12-19. Read the Classified Ads. FIRM INCORPORATED Dr. F. S. Skiff of Portland is president and C. M. Scherer Is secretary of the Bonanza Quick silver Mining company of Douglas county, which has just been in corporated with a capital stock of $250,000. New Hospital is To Be Inspected By State Board Members of the state board of control will spena wuraJ. 19 at The Dalles inspecting the ..... k.nmtMia hosnltal. new siaiw . The hospital Is Bearing comple- . . i i K In vendi tion ana prooauu . m .,nr.-v OUT IV 111 MSV news mr -j . . - Furnishings for the plant have been purcnaseu. w-. f r n.iiinr snnerlnten dent of the local tuberculosis hos pital, will accompany the board to The Dalles. The superintendent of The Dalles institution nas noi yet been selected. Charles D. Jones, who has re signed as Washington coonty en gineer and roadmaster, has taken an advanced position with the Cal ifornia state highway commission. ChildrenCry1 tor tCASTORIAj A BABY REMEDY APPROVED BY DOCTORS FOft UtC0TimllON.DIAWWA C ASTORIA For sale by , Nelson & Hunt Drug Store Corner Court Libertv-TeL T Visit Our Complete Drapery Department on the Balcony That Brighten Up Your Home! 'ills Have you visited our Drapery Department on the Mezzanine floor. We carry a complete line of ruf fled curtains, panels and drapery materials. It will pay you to visit this complete department. Ruffled Curtains Voile curtains with figured valance and tie backs, well made and fast OR color Pair tpXeieJ Cream voile curtains with colored valance colored ruffle at bottom of curtain complete with J" JQ tie backs Pair wXtaJ Voile and Marquisette, plain with color ruffles and with colored dots and figures. Complete with valance and tie A-f Qp backs Pan ....t9Xt French Marquisette 39c 40 inch French Marquisette in cream and ecru, at per yard i Figured Nets Figured nets, 34 inches wide. This is an ftP extra good value. Per yard tttC New Cretonnes SS Inch cretonne in beau tiful floral and conven tional designs Per yard 49c Cretonne with sateen fin ish. An ideal drapery ma terlal in new attractive light and dark pat- CQ ymrd....wv terns per : Rayon Draperies "1 : Colored rayon for draperies, 36 inc in blue with f' gold figure and in rose with gold QQ 1 ' ; figure Per yard - - wOL Use Cl Coavenient Charge Account Service , 255 NORTH LIBERTY ST. -rrr mm rw 255 NORTH LIBERTY ST. Your Bom Store Ii ByMonsVanae " Factory Introductory Offer THURSDAY FRIDAY AND SATURDAY ONLY True Black Jasmine Narcisse Genum French Perfumes THIS COUPON IS WORTH $4.02 FREE! 4 alr as. to kUa Mr m ' ' imilifa. .imbm. mU, ad w wUI ran Ft. . itfc .at laHa aH Twa Raaaiar $240 aattla. of trraca t arf uum ta Naraiaw J?1.l5!:cV ,Jm?"?? mmi2 Ij00.W". UT,mm. - to, aawaar. All - SMvatosloriaAeea-talaafiWaaalyaataSatoTAaVBicat. - 33 NELSON Cz HUNT Court & Liberty Streets Salem. Oregon i 72m i R'&vJr 1 I FASHION, this season, places her authoritative approval on frocks with lines and colors that most become you . . . allow ing generous latitude for the choice of costumes in good taste. This beautiful group of frocks includes such lovely materials as georg ettes, chiffons, printed silks, flat crepes, crepe Elizabeth and satin. We Will Sell 150 Dresses To demonstrate our ability to furnish you dresses at a price you like to pay we offer 150 dresses ranging in price from $12.75 to $16.75 at The La BeUe Shop New Location 175 North Hijrh Just west of the Cutfrt llous