i -
Name of World Money Cap
ital Coveted by Peo
V ' pie of City '
, ' "tey Edward Stanley
CHICAGO (AP) Aside from
those who merely live here, Chi
cagoans envy New Yorkers only
two things Broadway and Wail
Street.
Not much can be done about
Broadway. It is admitted, with
appropriate tears, but if the tide--of
finance can be turned west
ward. Chicago means to do it.
- Tht"rltv now has the world's
largest commodity market in the t
board of trade; an acuie aioca j
exchange; a lnsty curb, only
ear old and already Klib LaSalle
street's slang: a bustling produce
.exchange, and a cotton exchange
fire years oia, ranging imm
the nation.
With these as a supporting cast
the board of trade will go into
the dance with its new securities
market early this fall,
Chicago financiers find many
reason for their optimism.
'- First in importance is the fact
'that the board of trade, is compe--tent
to handle huge orders. One
JuIt day's business In wheat total
ed $25.000,e00. and that in three
and three-quarter hours.
Then there is the enormous
- scope and prestige of the board
of trade, built up in its 81 years
of activity.
Its prlrate wire system, claims
the board of trade, is the largest
in existence, threading through all
the rich middle west, the cotton
belt.Uhe west. east. New England
and parts of Canada. It taps 636
cities. 226 exclusively.
- The board of trade has 1.686
members, the largest group of
speculative traders In the world.
One hundred and fourteen of these
firms bare partner members on
the New York stock evebange.
; UatH recently the Chicago mar.
ket - has been hobbled by a state
law holding the rate on call mon
ey to a maximum of 11 per cent.
Despite this randciap. the city has
risen to third place as a money
center and the last legislature re
stored the statute as applied to
loans above $6,000.
Samue! P. Arnot. president of
the board of trade, points out
tbat'whlle the new law increases
, Chicago's power, it also "protects
the so-called small investor whose
borrpwir.Kf are infrequently as
high, as 15.000."
The stock exchange, with 235
members, was founded in 1882.
It has 500 listed securities and
deals daily In about 300.
: Tae curb, founded a year ago,
-rather as a kindergarten5?for
board of trade members, has 200
members. The most recent seat
. sold' brought 88,000. Known as
the Vpoor man's market" because
its dealing units are blocks of 50,
the 'curb handled 4.440 shares
' Its first week of life, and now
' about 70,000 weekly.
-Trading o the new market will
be from 10 a. m. to 3 p. m.. mak
ing Chicago the final market in
the world.
ITALY SEEKS TBflDE-
ROME fAP) Italian indus
trialists are seeking to form a
coordinated plan for a more ex
pensive commercial penetration of
South America.
The balance "of trade already is
strorgly in favor of Italy, but the
commercial leaders here believe
that bsCiore unified effort .aided
by large Italian colonies In South
America, they can introduce Ital
ian products much more speedily
than heretofore.
Prof. Caetano Li bra no, jpert
on Italo-American business rela.
tions. has formulated a compre
hensive plan that i receiving
much consideration from indus
trial organisations. His project
Includes a numbfr qf point and
embraces work both " in South
America and in Italy.
He asks for the establishment.
In each capital of Latin-American
republics, of an Italian chamber
of commerce, with branches in
the important centers of the re
spective countries. Each cham
ber, he says, should maintain a
permanent exhibit of Italian pro
ducts..
He demands of Italian manu.
facturers a greater efficiency in
methods of production, resulting
in finer accuracy of their pro
ducts In the lines of internation
al measurements.
His third idea is to create in
Italy a large display and selling
house solely for Latin . American
products.
Fourth, requires closer co
ordination of the Italian merch
ant marine trading with South
America.
Fifth, he asks for the creation
of an Italo-Latin.AmerWn bank
It every capital from Mexico to
the Antilles,
Sixth, he calls for the institu
tion of a government bureau de
signed solely to aid trade between
Italy and the southern half of the
we-rtern hemisphere.
"In spite or tht great superior
ity of the United States, England.
Germany end , other countries."
says Professor Libranor "Italian
merchants have a considerable
oport unity in Latin America. .But
our industries and our commer
cial sense must be oriented so as
to conform to Latin-American re
- Qulrements." "
Flower beds should never be
spaded during the growing sea
son. This method is harmful to
the roots of the plants.
. Never water blooming plants
when the sun is shining upon
them. The plants are apt to wilt
and the. brightness of the bloom
aad foliage will be destroyed. Tbe
- blooms should not receive any wa
ter If the beauty of the bloom is
to be preserved.
III S
in
New Willys-Overland
- .r ve .i r, J
. . -jM&sA . . - fx-- : -
i -XT
Unwood A. Miller, who succeeds Jobs N". Willys as prealdent
of tbe AVillys-Oerland Coranany, Toledo. Ohio. Mr. Willys bow be
come chairman of too board. Mr. Miller for the. part four yean ha
bern first vice-president of the company and during that time main
talned a close personal contact vith Mr. Willys. Ho Is especially well
equipped for the higher responsibilities having keen an executive
of the company for the past 15 years. He Is recocnized a an official
of force, experience and foresight. Hi approachabiHty and fairness
have made him extremely popular In Toledo and in the field, and. his
choice to strongly welcomed thronghont the organization.
Indians Sound
Ancient
GALLUP, N. M. (AP) ThsO
religious urte of a primitive peo- ixation.
pie. prayer finding expression in
dancing chants to the Great Spir
it, again is calling the Indian
tribes of the great southwest.
The annual summons has gone
out for the southwestern inter-tribal
Indian ceremonial here August
28-30, with the best known med
icine men, athletes, dancers and
singers of 22 tribes summoned
from New Mesico, Arizona, Col
orado and Utah.
In many respects the Gallup
ceremonial is the most extraordin
ary spectacle on the JSTorth Amer
ican continent. '
Not a rodeo or gaudy nally
hoo, the inter-tribal festival la an
impressive and plausible e?
sion of a life anl' religion bound
up with nature and natural pre
nomena the presentation of awe
isspiring rituals of a barbarls and
pagan, yet artistic, race,-i.
Of tbe scores of Jndian tribes in
the United States those "of the
outhwest probably are' the leasi
affected by the inroads of civil-
Western motorists continue to purchase
increasingly large numbers of Durant Sixes
and Fours. Durant broke all sales records
during the first six months of last year. This
year Durant sales are 49 per cent greater than
thoseof last year in the state of OREGON!
During this same period, Durant gained 54
per cent in California, gained 28 per cent in
Washington, gained, 28 per cent in Ar
ona, gained 21 per cent in Utah, and gain
ed 3 per cent in Idaho, a. a a a.
- ' .... . .-,'IP. i'
Salem
435 N. Coml St
H. E. SHADE
yro-ae ? ' -
BMSSBMBSlSMSSBMBMBSSSSaSaMM
Call for .
Ritual of Tribe
The annal ceremonial
shows the beBt of the centuries
old games, arts and handicraft of
the tribes and the most honored
of the traditional and deeply re
ligious dances, songs and rituals.
The southwestern Indian does
not pray by verbal communication
with his God, but petitions and
praises are rendered by intricate
dances that involve much physical
sacrifice and solemn ceremony.
Every detail of the Indian life,
every venture upon which he em
barks, every pnenomenon of na
ture every change of season, the
change from day to night, the ap
pearance of the sun, of a storm, is
attended by a chant or dance.
, There are a few of the Indian
religious ceremonies that .are re
tained exclusively for the reserva
tions, but the great majority of
tribal celebrations are shown be
fore the white man here. It has
been only in recent years that the
southwestern Indians have let
whites see their ceremonies.
Automobile Co
C J. TAYLOR
raciijs euue
ra ID SVSTEM
Up-to-date Highways Being
Constructed in Old Az
tec Sections
By ALLEN QU1XN
(Associated Press Automobile
Editor)
WASHINGTON. (AP)
Aroused from 300 years of apathy
toward roads, Mexico now is em
ploying modern American meth
ods and American experience to
build an up-to-date hig"hway sys
tem. Since the road building projects
of the Spaniards ceased in ancient
Mexico, little thought 'had been
given to highway construction un
til 1925. In that year a national
highway commission was formed
and a program laid out with aid
from engineers with much experi
ence in road building in the Unit
ed States.
That program has been expand
ed and the nlans for the six years.
1929-1934, call for expenditure of
$39,564,000. In addition, each of
the 30 state governments has its
separate road program, linking up
with the national system.
. .Most Important, or the tnrouga
routes being built 1s the Mexican
section of the Pan-American mgn
way to link North and South
America.
The northern section of the
route, from Laredo to Mexico City,
will be completed late tnis year or
early in 1930. according to Octa
vio Dubois, president of the Mex
ican National highway commis
sion. It already Is carrying an in
flux f American tourists as far
south at Monterey.
"Southward from Mexico City the
highway has been completed as
fir as Puebla. and great progress
has been made from" there to
ward Oaxaea and the Guatemalan
border.
Charles M. TJpham, secretary-
direetor of the American Road
Builders association, spent several
months in Mexico as consulting
snrinMr to the Mexican highway
commission. Only the newest and
best methods of road building are
being employed, he said.
On the through route and on
manr of the hard surfaced
branches, the tourist will be led
through a land of romance, with
many contrasts of the modern and
ancient. The catacombs of Guana
Juato. the pyramids of the' Attecs,
the temples of the Toltecs and the
hanging gardens of the Tncas will
be opened to sightseeing tourists
as the road program advances.
With C2.600 automobiles regis
tered on January 1, Mexico leads
the nations of the world in the
number of motor cars per mile
of road.
English hotel men aud tourist
agencies aver that the family roan
and not the bachelor are the best
spenders among American tour
ists. Seventeen printing establish
ments 'are kept busy supplying
the 1.000,000.000 tickets used by
the German federal railway vear.
ly.
..4
D U R ANT
FOUR -FORTY
re 595
SIX-SIXTY .a
r ess
SIX SIXTY-SIX
SA I t
'ml
au r ii m w. . a.
Telephone 97
H. J. WOOLEY
i si
LOOK Before You Back !
1 , m
More than one father has killed
his own child ss a result of back
ing his automobile out of the ga
rage without flrst making sure that
the path was dear, reports the Na
tional Safety Oonneil, which urges
mo tor) Ms to exercise nnosual care
when starting out for a ride. Re
member, the child who may have
DETROIT, ifith.. Aug. I.
Sho wing- the company in the
strongest poslUon it ever has
known, Hudson Motor Car Co.
made publie today a condensed
comparative balance sheet which
discloses the progress made in the
first six months of. 1929. From
Dec. 31, 1921 to June 29. 1929,
the date of comparison, the
statement shows that cash, gov
ernment securities, sight drafts
: 7 f
o
.stnnrimtles
- - swfc. mm
m
A TIRE FOR EVERY CAR
HUDSON
EARNINGS
ARE GOOD INCREASE
Wear-wel Western Giant Western Giant
Cf7P Bno . Muted Xtm Ctr-
Klb-Tread TVmctloti
levses-itBe ijto-ua i.mo-miu
29x4.40 (4.40-21) . $ &28 $ 5.96 ' $ 6.85
20x4.50 (40-21) . , . 6.10 6.95 7.95
29x4.75 (4.75-20) ... 65 &30 8.95
30x5.00 (5.00-20) ... 7.65 &95 1025
31x5.00(5.00-21).,.. 7.85 935 10.65
30x525(55-20)... - .80 1025 11.80
31x525 (525-21) . . . a95 1055 11.95
30x50 (fits 30x&77) HU5 1Z65
32x6.00 (6.0020) . 11.80 13.75 15.60
33x6.00(6.00-21)... 11.95 135 15.95
32x6.50 (fit 32x620) . 17.80
33x6.75(6.75-21)... ..... ..... 2125
Wearell Western Gkat Western Giant
SIZE
-Wll l-iuie Track Ttm
30x3 CL Regular. . $165 T&35
30x3V, CL Oversize.. 4J9S 55 $ 8.90
30x3 SS Oversize. . ...... 6.95
31x4 SS Oversize.. 7.95 925
32x4 SS Oversize. . 825 9.85 13.85
33x4 SS Oversize. . &95 10.45
32x4 SS Oversize. . , 13.65 17.90
33x4 SS Oversize. . ..... 13.95 18.75
30x5 SS Oversize. . ..... 21.85
33x5 SS Oversize 19.45 23.65
THIS LIBERAL
GUARANTEE
Meant Satisfaction for You
Besldea ear liberal lOnlnram Mtleas
Guarantee, every "Western Auto" tire
is guaranteed to rive absolute satis
faction for the life of tbe tire. This Is
upheld by prompt, smiling service at
all our stores, and- by oar popular
as Always it
been, In the house when you left
doesn't take more than a few sec
onds to run outside, perhaps to bid
you farewell or beg' for a ride.
Bear In mind, when backing, that
your best bet Is not only to blow
your horn but also to look out to
see if anyone Is In the way ere proceeding.
and receivables rose from $25.
021,685 to S40.988.104. Surplus
increased from 35,611,tt4 to
$42,143,318 and aotal assets
from $68,238,084 to $81.427,093.
.Earnings for the first six months
o fthis year showed $6.65 per
share against $5.77 per thare in
1928.
This statement follows the
earnings report for tbe first six
months of 1929 which was pub.
llshed late this week and which
established a new high record for
first half results. The compara
tive balance sheet now released
reflects not only this highly act
ive business but also the com
pany's law inventories' and gener.
ally liquid condition.
o
11-
1
FOR EVERY USE FOR EVERY
liore tban 150 Stores in HbcXrtst-
SALEM STORE:
201 N. Commercial TeL 796
.roucy.
SUPPLY STORES fiRE
IJJ GREAT MEHGER
Western Auto Firm of Kan
sas City Features
In Big Deal
NEW YORK. AUg. 3. Negotia
tions for the merger of the West
ern Auto Supply company of Kan
sas City and the Western Auto
Supply agency of Los Angeles and
the Western Auto Parts comranj
have been completed and terms
have been agreed on.
Western Auto Supply company.
a new Delaware corporation, has.
been formed to exebarpe its
chares for all or a substantial
part of the outstanding common
t-tocks of Western Auto Supply
agency of Los Angeles. Western
Auto Parts company and all or a
substantial part of the Class A
common stock and Class B com
mon stock of Western Auto Sup
ply company ol Kansas City.
One and one-tifth shares of
common stock of the new com
pany will be issued for ea.-h com
mon share of Western Auto Sup
ply agency and Western Auto
Parts company. Four and one
half common shares of the new
company will be issued for each
share of Class A or Class B fom
T.OD stock of tbe Western Auto
Supply company -of Kansas City.
CHRYSLER flFITS
AT RECORD LEVEL
Added Sales in Low Price
Field Found Great
Assistance
NEW YORK, Aug. 3. Earn
ings of the .Chrysler Corporation
in the first six months of 1929 es
tablished a sew high record of
$18,095,239.
This compares with $11,690,-
"Western Auto" tire quality. . . in-built extra mileage . . . depend
ability , . is the result of years of experience in providing west
ern car owners with better tires. Tremendous sales through our
own more than 150 stores, and our One Low Profit" selling pol
icy, keep our prices on High Quality "Western Auto" tires down
as low as ordinary tires. AND Our TRADE-In Allowance on
your old tires makes our low prices even lower! Thafs why your
tire dollars go farther in "Western Auto" tires.
The safety of your investment Is assured by the Iron-Ctadr
Guarantee of Satisfaction "150Store Service" and the Cus
tomer Is Always Right policy of the world's largest retailers
of motoring necessities. z
O
3
PURSE
T-4
i ve aie repeating (
OUR OFFER rf"
mill each purchase of
Two weeks so we made our first FREE Tire .
Cover effer. 80 srly did cM-ewww W.
pond that we r naWnc the s&aae ffee.tnls
week . . . one cover FREE with eh purchase
f two Western Giant Saltans ... I
Remember, theee overs are made of the wen
known Taunton Twin, heavily backed and wa
terproofed. Tne black glased finish la enriched
toy emboesed ribbed squares. There are no
snaps or buttons . . . Just slip the corer oree
the tire, and the strong: elastic Inner seam holds
It tlht and anus. Upon each cover, attrac
tively lettered, are the words, -western Giant
Tires." Thia offer is for a limited period only.-
AA for
low prices
ob sixes
tot shown
6-
&
47 1 In the corresponding period
last year. The per share net lni
come in the half year period this
year was $4.06 on 4,452,60
shares of capital stock outstand
ing, as compared with $3.98 on;
2,704,35$ shares a year ago. On,
the present number of shares, the
income of the first half of 1928
would have been $2.62. , ,
Net profits in the second quars
compared with $8,838,173 for the
preceding quarter and with $6.
9S8.013 in the second Quarter of
last year.
Net sales of the corporatioa
this year showed a tremendous'
gain over the first half of 1928,'
the total being $227,968,786, a
against $94,953,734.
j ne nei taamon io surplus ion i
the first six months of 1929 was
$11,447,254 as compared with,'
net addition of $6,573,810 for the
first six months of 1928. Dividend
charges for the first half were $6 -
64", 9S5 this accounting to only
34 per cent of the net earnings
for the period. The total dividend
requirement, for the entire year at
the present rate was earned in the
first half, with one-third to spare.
The balance kheet discloses a
market increase in jiet current as
sets, which show $86,707,854 as
of June 30. 1929. compared with
?:$.407,65 at March 31,1929,
and $45,784,632 a year ago. The
ratio of current assets to current
liabilities at the half-year mark
was 4.5 to 1.
Cash and marketable securities
were on hand to the amount of
$51,67S.S94, this total exceeding
the entire current liabilities . ly
more than $23,000,000.
DO!
Keep the porch and window
boxes well watered. Especially if
the boxes are in the sunlight they
will need considerable water. A
heavy watering once in a while
is better than asprinkling often.
Loosen the soil in the boita
after the soil has become dry
enough to cultivate. A loose to l
will .give the roots a chance to
reach down for moislure.
Norfolk, Va., is placing fishing
platforms on bridges for ths ben.
efit of anglers.
Beach pajamas are extremely
popular on Chicago's lake shore.
XT
. Ii
30x3VS
$398
29x4.40
$4Z
olwsMk fM
SMtei Mt Bklha