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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (Oct. 3, 1929)
PAGE TEN Th OREGON STATESMAN. Salem. Oregon, Thursday Morning, October 3, 1929 CRM MARKET I Stimson Probes Charged STOCK IRE INVESTIGATION PLAH DELAYED I ltaiBU: I IS RECOVERING OF LOBBY NEXT National Corporation Not to Be in Position to Work For Another Year By RAYMOND Z. HENLH Associated Press Staff Writer WASHINGTON. Oct. 2. (AP) fr-The information that the pros pective Farmers' National Grain Marketing corporation will be an. able to function effectively to ward the stabilization of wheat prices until next year was given to the senate agricultural committed today by Sam R. McKlvie of Ne braska, wheat's representative on the farm board. Formal organization of the cor poration, is imminent and as soon as this is accomplished, planning of policies will begin. Irrespec tive of whether all cooperatives and pools are represented, the board members said the corpora tion would be in the field in the attempt to demonstrate that con ditions can be improved by order. Iy marketing. Brookhart Challenges Right to Lo '.n Money During the examination of Mc Kelvie, the board's right to loan money to the corporation was challenged by Senator Brookhart, republican, Iowa. Informed by McKelvie that counsel had assured the board it was acting within the law, Brook hart -said he thought the board had started out on an illegal basis and that "maybe some of us will have to bring an injunction to test the right of your counsel to advise that." The Nebraskan said "adequate provision" would be made in the corporation's charter to prevent "wheat gamblers" from obtaining the farmers stock holdings. He aid the agency would bo entirely controlled by cooperatives and the profits would go directly to the farmer. Agency Will Function In Next Few Days Coincident with the testimony of McKelvie, announcement was made in Chicago by William Set tle, chairman of the grain corpo ration's organization committee, that the agency may be a work ing reality in a week. Several members of the farm board have left for Chicago to arrange final details of organization. McKelvie told the committee the board had disagreed with the organization committee of some phases of its charter but that these differences were not serious and a solution was expected. Except for supervision of the board, McKelvie said the market lng corporation was expected to give farmers themselves the op portunity of controlling the dispo sition of their crops. The board Intends to finance the corpora tion, he said, so that it can obtain adequate storage facilities. Senator Wheeler, democrat. Montana, contended that the co operatives which will form the marketing corporation are not farmer-owned "but are controlled by a lot of people who are ex ploiting the farmer just like the grain- gamblers are." McKelvie assured him the board would see that no cooperative of that type were permitted to own stock In the corporation and that all credentials would be scruti nized carefully. OB DATE SET T Tuesday, November 5th was the date set for the hearing of final account in the estate of Sarah Bleakney, Winifred Evens, admin istratrix. Madeleine W. Dyer was ap pointed executrix in the estate of Georgiana D. Walker, deceased. The petition reported real prop erty of probable value of (10,000 and personal property of probable value of $19,000. In the estate of Nicholas J. Haas, Emily R. Haas was named administratrix and Ray L.Smith, Robin D. Day and K. C. Gearin were appointed appraisers. The reported estimate of the personal property was $1500. Frederick S. Lamport filed fil al report as administrator of the estate of Edward S. Lamport, de ceased and hearing was set for November 4. cnarlotte G. Laliy-Hunt was authorized to mortgage the estate of John C. Lally $500. She is the administratrix. Henry A. Morrison was ap pointed administrator of the es tate of Myrtle Buffe Morrison, the estimated value of whose estate was reported at $5000. I E, Smallpox is not becoming a rare or unknown disease nor are fatalities therefrom growing less, says the current bulletin of the state board of health which tells why smallpox vaccination is ne cessary. In Marion county, the general statement of the state, board does not bold, because of the Intensive vaccination program which the child health demonstra tion has sponsored among the school children of the county. The bulletin says: "la Oregon there were 1168 eases and five deaths from small pox reported in 1927 and 1974 cases and fire deaths in 1928. Re cent reports indicate that deaths from smallpox In the United States have shown a very large increase. 1 The smallpox case-rate in the United States Is at pres. ent the highest of any civilised country in the world. Much of the disease, It is true, Is of a mild type with a low death rata, bat more and more epidemics of the IN H SMALLPOX IS I OWN REPORT i . i i I f If . - Iy (Right) Secretary of State Stimson discusses, with Senator Borah, Chairman of the Senate Foreign Relations committee, charges re cently brought by American residents of Cuba, relative to the high- nanaea metnotis or the island administration. Authorization For National As Present SAN FRANCISCO, Oct. 2 (AP) Extension of branch bank ing by national banks was advo cated today by John W. Pole, comptroller of the currency, who urged revision of existing law to make this possible. Speaking before the American Bankers association, he suggested that national banks be permitted to establish branches within their federal reserve districts or within areas prescribed by Con gress. This, he asserted, would make the national banking system more attractive to state banks and cure what he described as a fun damental weakness in the coun try's banking system. The Comptroller said such an extension, however, must be made under adequate safeguards, such as Intensified government super vision and the requirement of par ent banks to be capitalized suffi ciently to meet the responsibility of its branches. Further, he add ed, the comptroller should have authority over establishment and removal of branches. Pole reviewed the growth of group banking, through which large financial corporations con trol many small banks. This form of banking, he said, had grown without authority of law in recent years until it might eventually displace the present system of country unit banks and he offered his branch banking plan as an alternative. Group banking, the comptroller said, was more cumbersome and ex pensive than branch banking but was the only way under the na tional banking laws that large metropolitan banking groups could extend their services to country districts. Pole told the bankers that fig ures available for the first eight months of 1929 showed 52 na tional banks and 403 state banks had failed,- a condition that in a severe type with high death rates are appearing. - Study of an outbreak at any time and anywhere will convince any reasoning being that vaccin ation and vaccination only will suppress, modify and prevent smallpox. "In isolation hospitals where all attendants have been properly vaccinated twice a year, no atten dant has ever been Infected al though they are constantly expos, ed to the infection. On the oth er hand millions of persons, by refusing or neglecting vaccina tion, have died of smallpox in the 130 years since Jenner s discov ery. No matter now serious con ditions become as a result of ne glect, proper enforcement of vac cination will quickly bring about normal conditions. "Every child should be vac cinated before or soon after It Is six months old. There Is only one way to prevent smallpox and that la through vaccination. The method is logical, specific, sensi ble and satisfactory. Isolation and disinfection are only secondary." Reception Date Changed Due to Football Game WOODBURN, Oct. 2 (Spe cial) -The sentor-rresnman re ception which was scheduled for the evening of October 4 has been postponed until October 11 be cause of a conflicting football game. The football team will play at Tillamook October 4 and' It will be Impossible for the team to get back to Woodburn within suffi cient time to attend the recep tion. Because many of the boys who will go to Tillamook are seniors the latter -date was cho sen. It will also be convenient for the committees in charge of the af fair to have the change in date as the organization of classes took place last Thursday and the se niors hare been rather busy get ting first place in the sale of stu dent body tickets. GALE CAUSES DAMAGE PANAMA CITY, Fla., Oct 2. (AP) One death and consider able property damage, including destruction of the city docks and two bouses which were washed away, was the toll of the tropical storm which swept Into the main land from the gulf here late Sun day alght. 7 of Branches Banks Cited Day Necessity year of business stagnation and financial depression might have caused concern. The great busl ness activity of the last eight years, he said, had prevented such a situation but also indicated through inability of the small banks to share the general pros perity, that there was a funda mental weakness in the banking laws. The comptroller said he had given long and careful thought to the question of branch banking by members of the national bank system, now allowed to establish branches only in the city in which they are located and in foreign countries. "I have reached the conclusion that an extension of branch bank ing privileges should be granted to national banks," he said. "That it should not be nation wide will be generally admitted. It has been suggested that branch banking be limited to the con fines of each Federal Reserve District. This may not be feas ible to the same extent in all Fed eral Reserve Districts. Restricting it to state boundaries, which are political, rather than- economic, presents difficulties, as does the suggestion that a radius of 50 or 100 miles from the parent bank be fixed, but there is an economic area to which the extension of branch banking can be applied, varying in size to meet the diver sified conditions that exist in this vast country. "It Is for Congress ultimately to fix the boundaries of these dis tricts; but Congress, of course, would not and could not attempt to do bo prior to careful consid eration and study of all of the factors, which could only be car ried on by a committee of qualifi ed experts. Would we not be mak ing real progress if, at the coming session, the congress were to in struct, let us say, the secretary of the treasury, the governor of the Federal Reserve board and the comptroller of the currency to study the banking situation and to report the boundaries which they would recommend that the congress set up, establishing sucn definite areas?" of course women dictate to en . . . about styles and other things . . . and it's rightly so , . because they know much abont ther, says "holly" hunt- ington. ;DAD0yOEAR-J promisedI'd; MAY in SURE, MARRY HIM AND -BOSS HIM LIKE YOUR' : MOTHER 1 DOS MEJ NOW DAODy. YOU SXid MOTHER WAS 80SIN$ you -ro. ... watch our ads In this space In this paper : .V. and find out what women and other smart people say about this shop. 1 fLk 1 Drop in Call Money Rate Has Tendency to Relieve Situation NEW YORK. Oct. 2.' (AP) Lowering of call money rates, marking the end 'of the credit strain incidental to the quarterly settlements, provided the back ground for an Irregular recovery In today's stock market, but trad era received another unpleasant surprise after the close when the New York stock exchange report ed member loans had increased $667,7(4,553 last month to a new high record at $8,549,383,979. The market opened Irregularly higher, turned extremely spotty when fresh liquidation developed in some of the recent speculative favorites and then witnessed, a brisk rally which was checked in the last hour by the heavy selling of radio which dropped 4i points. The day's sales fell well below 4,000,000 shares, indicat ing both Ihe absence of any exten sive liquidation and the lack of any heavy accumulation on the part of investment trusts and large individual operators. Most market observers were agreed that the market was entitled to at least a technical rally, but there was still a wide divergence of opinion as to whether the cur rent recovery marked Jhe end of the selling movement which start ed nearly three weeks ago. Thirty or more stocks sagged to new low levels for the year in the intermittent waves of Belling which swept over the market dur ing the day. The list included Studebaker, Jordan and Reo Mo tors, International Combustion, Richfield Oil. National Bell Hess, National Tea, Jewel Tea, Park and Tilford, American Zinc and American Woolen Preferred. Only a handful of stocks went to new highs, among them Colum bian Carbon, -Remington Ran Myer and Bros., Timken Roller Bear ing and General American Tank Car. U. 8. Steel common ran up to 226 and then fell back to 223 for a net gain of only 1. General Electric closed Z 3-4 points high er at 363 3-4 after selling 3 points above that figure. Westinghouse Electric retained only 2 points of its early gain of 6 3-4. Standard Gas and Electric ran up 13 and fell back 5. And so on through the list. Read the Classified Ads. Only a doctor knows YOU dont want to use a laxa tive every day. Nor once a week. This should not be neces sary. And it never would be re quired if all of us would learn the danger that lies in a careless selection of laxatives. By taking the first thing that comes to mind when bad breath, headaches, dizziness, nausea, bil iousness, gas on stomach and bowels, poor appetite, or lack of energy warns us that our bowels are sluggish, we risk forming the laxative habit. Rely on a doctor's Judgment in choosing your laxative. Here's one made from the prescription of a specialist in bowel and stomach trouble. Its originator tried it in many thousands of eases. He found it safe for women, children and old folks; thoroughly effective for the The NEWEST Beale Street Blues by Williard Robinson and his Orchestra Columbia No. 1948D Harlem Blues by Williard Robinson and his Orchestra Colombia 1948D Sweetheart, We Need Each Other A Fox Trot Victor No. 22101A You're Always in My Arms A Walte Victor No. 22101B Senate Inquiry to Take Up Activities of Various Organizations WASHINGTON, Oct 2 (AP) Senate investigation of Wash ington lobbyists will probably be directed first at these persons and associations seeking to influence the tariff legislation now before the senate. Senator Caraway, democrat, Arkansas, author of the inquiry ordered yesterday by the senate, today named those he had in mind for investigation. The list includ ed the southern tariff league and Joseph R. Grundy, president of the Pennsylvania Manufacturers' association, who has been in Washington representing also the American tariff league during the tariff making. Muscle Shoals Lobby Specifically Mentioned The Arkansas senator Is likely to be a member of the investigat. ing committee. He wants to in quire into the nature of the or ganizations which have been In terested before congress in the Muscle Shoals, Alabama, power plant disposal, and in the propos ed repeal of the federal estate tax. VIOLET GASOLINE what a laxative should he most robust man. There were so many calls for this prescription and its fame spread so rapidly that druggists began to fill it in quantities; kept it ready for calls. Now Dr. Caldwell's Syrup Pepsin, as it is called, is prepared from the freshest herbs and other pure ingredients under ideal conditions. You can get the generous bottles of it from drug stores in any part of the world. Dr. Caldwell's Syrup Pepsin is a real corrective of constipation. Millions have proved this. That's why it is today the world's most popular laxative! Da. W. B. Caldwell's SYRUP PEPSIN A Doctor Family Laxative in RECORDS GM The investigation will be un dertaken next week by some members of the judiciary com mittee, headed by Senator Norris, Republican, Nebraska. There were indications tonight that the senate investigators would not go into the Washing ton activiteis of church organiza tions and wet and dry associa tions. Some committee members contended these organizations were engaged principally in elec tion activities and that they have submitted reports of their expen ditures to congress. Stating be had no complaint with those who were legitimately interested In legislation. Senator Caraway said today he wanted "the public to know that the gov ernment Is not for sale and that these parasites have no more in. J.C.PE I mportant Values On Smart New Fall Merchandise! Save Now! Men's Union Suits of Warm Wool Mixtures In Medium and Heavy Weights Warm underwear that may be had in wool-mixed and Worsted mixtures. Made of ribbed knit in medium and heavy weights. Every garment made to fit comfortably, wear well and keep its shape. AH sizes. Buy now at these very low prices I $1.98 and $2-98 Men's Khaki Shirts Of Genuine U. S. Army Fknnel (Part Wool) Shirts of real qual ity for outdoor men. Made with double el bows that add much wear. Cut full, yet fcot baggy. Two flap pockets, large and se curely sewn. Here's a shirt that will repay you many times its price. $1.98 to $3.98 Lumberjacks Of All Wool Men's food quality lomber jacki . . . warm and good look bf. Made with knitted bottom, I pockets, and open collar. All wool macldnaw doth m fancy patterns. $3.98 p 00 on n DO ti 2 u 1 fluence at Washington than the Janitors in the city halls of the nation have with their govern ments." The Inquiry Is the first of its kind in Washington in a decade, despite many threats in both branches of congress. Interest in such a course was generated in the senate last week by disclos ures that American shipbuilders had raised and spent In Washing ton. $143,000 a year ago at the time the Jones-White merchant marine act was in the making. A full accounting of that fund was given and Laurence R. Wil der, president of the trans-oceanic corporation promoting the four day trans-Atlantic project, testi fied that he spent about half of the fund. He insisted it was not used for lobbying. NNEYCG 160 North Liberty Street Men's and Young Men' Overcoats $14.75 to $24.75 Styled for Smart Appearance and Priced for Thrift Come join the army of well dreued men. Slip into one of these new Overcoats and step Into style. A fine selection awaits you her in the newest and $aartnt fabrics ol the season. Excellent Quality in Men's Boots Sturdily made ... of choco late rosehe which mists rain, slush, or soil and barnyard adds, therefore fine for any boot need, Leather heeL 12 inch $7.50 16 Inch $8.50 si I FINES $1317 LIST MOH Moving a house without a per mit brought about a fine of $10 out of a total of $1317 in police court for September. Of this to- . tal $684 was for violations of the liquor laws and $13 for viola tions of traffic laws. The total for August was $1 251.50. Possession of liquor cost $336 to be outshadowed by overtime parking violations by $4 which totaled $381. Passing in an in tersection cost $2 5') for the leai-t amount charged to any one violation. Men's Vests Of HorseUda Fine black borsehide Tests 10-incbei long. Belted bade, side pockets, warm shoddy lid fag and adjustable button cuffs. Just as illustrated. A very fine value. $9.90 Slipover Sweater A fine sweater for sports and all-around wear. Made of pure yarn, in a selection of fancy patterns. $1.98 $3.98 Wool Mixed Sweaters Heavy quality sweaters of a fine jumbo stitch. Made witn tig shawl collar in coat style. Carefully knit of SO per cent wool yarn. Two pockets. Sketched. $1,98 Men's Drawers Also Shirts Ribbed cotton. Ligt tVect lined. Heavy weight. Savel Each 69c Men's Pants Of Heavy Molestia Strong work pants thai are made of heavy-weight moleskin. Black and white stripes with cuff hot tomv bell loops and five pockets. Cut fun and well made. . $2.49 i