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PAGE SIXTEEN
The; OREGON STATESMAN. Salem. Oregon, Tuesday Morning. Janaary 7, ivsv
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I
YET UNSTEADY
Indefinite Price Trends Are
Noted in Activities on
Wall Street
NEW YRK. Jan. 6. (AP)
The stock market continued to
drift about today in the inconse
quential eddies of professional
trading. A few shares, notably the
coppers, responded to favorable
trade news, but price trends gen
erally were narrow and Indefinite,
Trading still held at a low ebb, the
day's turnover exceeding 2,000,
000 shares by a scant margin.
A moderate raily during the
morning was checked by bearish
pressure, bui trading "turned ex
tremely dull and operators for the
decline withdrew before the close.
Late In the day the general list
rallied in sympathy with the cop
per shares and closing quotations
were steady to firm.
The outstanding item of the
day's business news was a report
from copper trade circles that
Borne 50,000,000 pounds of the
red metal had been taken for first
quarter delivery within the past
few days at tae 18-cent price lev
el. This Quieted the uneasiness of
recent weekj over the ability of
producers to maintain the 18-cent
level, and the copper shares moved
forward In the most emphatic
manner in some time.
Wool worth's report of Decem
ber sales, showing a decline of al
most 3 per cent from December,
1928, was rather disappointing,
but the facts that there was one
Jess Saturday in the 1929 month
and that the weather was less fa
vorable, make the comparison less
NOTED FLIER CHRISTENS PLANE
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.41
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Clarence Chamberlain, famous pilot, christening one of the. two new peli? planes at North Beach
Air Terminal, New York, as Grover A. Whalen, Police Commissioner of New York, watches. The
two planes which were christened are amphibians and are equipped with a machine smn apiece,
and tear c hnmh. i'iV4
displeasing than it appears at first
glance. Such good tidings as came
to hand included the inauguration
of dividends on Hershey chocolate
common at the annual rate of $5.
Johns Manville mounted about
S points in response to a favorable
earnings estimate. Michigan Steel
and Celotex were strong special
ties, mounting about 5 points.
American Machine and Foundry,
Mathieson Alkali, Coty, Interna
tional Combusition issues. Nation
al Biscuit and Underwood Elliott
also made substantial headway.
The floating supply of Under
wood Elliott is said to have be
come scare since the dividend rate
wa raised to $5 a share, and ac
cumulation is understood to be
under way by interests close to
the management. Fox Film A, ral
lied 1 points In a5 large tarn
over bat closed up only 4 net.
U. S. Steel fluctuated in a range
of a couple of points and closed
steady at 169 U.
Season's Cheer
Sent Statesman
By Dr. Lai Yick
In an envelop embellished with
cancellation marks in ornate Chi
nese characters, The Statesman
has received New Year's greet
ings from Dr. Lai H. Yick, mailed
from Hoyshan, Canton, China.
The letter Is dated November 31,
1929, indicating that Dr. Lai esti
mated the time In transit with
fair accuracy.
Dr. Lai reports that the sec
tion of China in which he lives Is
peaceful, and be and his family
are In good health. He was for
merly a resident of Salem, and
indicates that he will again vis
It the United States in a year or
so and will renew acquaintances
here at that time.
DELEGATES TO
PROBLEM
Reparations Conference Has
Difficult Task. In Ad-
justing Issues
THE HAGUE. Netherlands.
Jan. 6 fAP) Delegates to the
second session of the reparations
conference are facing several pro
blems which have upset the time
schedule of the conference and
necessitated calling in more ex
perts. Announcement was made to
day that efforts to bring about
an agreement between Austria
and her reparations creditors had
failed and further efforts at ne
gotiation were In progress. The
general reaction to this develop
ment was a disposition by the big
powers to disregard the repara
tions interests of the smaller cre
ditors and to go ahead with adop
tion of the Young plan as soon as
possible.
Along with that announcement
came news that Foreign Minister
Briand will leave The Hague on
Friday in order to get to Geneva
comfortably for the council meet
ing of the League of Nations Jan
uary 13. The fact that Premier
Tardleu has taken things In hand
was believed in some quarters to
account for the foreign minister's
decision.
The big six powers made two ef
forts today to get the problem of
when the monthly Installments on
reparations are due from Ger
many off the slate without suc
cess. The creditors maintain that
all the calculations made by the
experts In Paris were based on
payments being made on the fif
teenth of the month, the Ger
mans hold that this means antic
ipation of the payment by 15
days which, on the whole year's
payment, would amount to more
than 4,000,000,000 marks or
about $1,000,000 In interest.
They Insist they be given an al
lowance for an equivalent capital
sum In the present value of the
debt or that the payments be
made at .the end of the month.
It was decided to call in Dr.
Hjalmar Schacht, head of the
Reichsbank, and other experts to
confer with the big powers on
that question. While Dr. Schacht
is not a member of the German
delegation, he has held himself
ready for consultations.
POSTiLClEmffi AflE
Exifflay eusr
The money order department of
the Salem postoffice is experienc
ing an extra busy time, with the
peak of the business in handling
and paying, money "orders sent to
the state motor vehicle depart
ment in paying for licenses now
at hand. Between 6,000 and 6,
000 money orders for this pur
pose alone were handled at the
office Saturday.
Although not so heavy contin
ually, the postoffice will handle
a large number of money orders
daily from this source for the rest
of the month.
Each of these money orders
must be handled exactly ten times
before the money order depart
ment has finished its work, which
means there are no idle moments
these days.
First, the amount is totaled;
then the orders are gone over
to see that all have been paid;
they are stamped both face and
back; the fifth handling Is to sort
'out the office number by hun
dreds; the next by office Bomber
of order; then the numerical
number; then each Is listed on
the money order statement. The
two final actions are cutting In
half and filing the coupon, then
mdin the official order to
Washington, D. C.
Turn to the classified advertis
ing page of The Statesman for
Portland radio programs.
Il
START THE NEWYEAR
WITH YOURIEL EX
ECUTED AND THE IN
TERESTS OF EACH
MEMBER OF YOUR FAM
ILY DULY SAFEGUARD
ED. OUR FEES AS EXECU
TOR AND TRUSTEE
WILL COST YOU NO
MORE THAN THE LAW
ALLOWS INDIVIDUALS.
OUR SERVICES ARE
MUCH SUPERIOR.
CONSULTATION INVIT
ED. Ladd & Bush Trust
Company
A. N. BUSH, President.
WM. 8. WALTON, Vlce-Pres.
It. P. ALDRICH, Secy.
JOS. H. ALBERT, Trust Officer
A SPE
D1SP1L
CIAL SALE AND
AY OF THE - - -
For Three
Days Only
M 1 Xte
America's Most Popular Range
Beginning
January 9
rpH ROUGH special arrangement,
an expert from the MON
ARCH Factorythe Largest, Fin
est Malleable Range Factory in
America will be here to explain
everything to ycu the superior
ity of MONARCH construction
the many time and fuel saving
features as well as the details of
our special offer during this sale
period.
Whether you need a range now or
five years from now, we urge you
to visit our store and see this at-
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f , -, M
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a fea 't :
tractive display of the New Mon
arch Range Design built in ac
cordance with the most modern,
practical ideas Beautiful and
COMPACT taking less room than
the oversize types of other makes
and without losing a fraction of an
Inch of useful space.
The MONARCH Practical Payment
Plan enables us to offer you the
MONARCH of your choice on con
venient monthly or single time
payments during this Sale if you
haven't the cash now.
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V . - II IHI - " s - ' . : i Ji, -i s. f
--;:'' i - i;VH - " 5 - -- -
Let Us Tell You AH
About It
ABSOLUTELY FREE
To Every Purchaser of a
Malleable Range
During this Special Sale and Display a Beau
tiful, practical 12-piece set of Never-Stain
ffteel Cutlery, or valuable set of VoDratH ;
Enamel Ware in Pink-Pearl or Apple-Greenu
SALE BEGINS
JANUARY 9th
Remember the Date
HAMILTON'S
USED
FURNTTURB
EXCHANGE
255N.COM'L
YOUR
OLD
RANGE
IN
EXCHANGE
Crowd,
'Bhe
'dun
Hon tDa Bffijg
,e
toll
Florsheim - Hanan - Selby Archpreservers
mond's and Freeman's, formerly sold
- Ed-
5 to
AH Go at One Price
D
Men's High Top Boots and English Shoes Not on Sale.
). A:
326 Gtotto Otoc&tfc Nost-to:thdC:&l
Stanlejr Burgess, Manager
S49 Court CU
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