The Oregon statesman. (Salem, Or.) 1916-1980, October 20, 1932, Page 3, Image 3

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    . The OREGON STATESMAN, Salem, Oregon, Thursday Morninjr, October 20, 1932
t "
Union Shareholders . Will
Be Offered Plan :by
Special Committees
Shareholders of the Union Sar
tags and .Loan association. '-will be
- presented a - plan of reorganize
tlon by a special committee ap
pointed by Governor Meier,
Jamea W. Mott, state corporation
commissioner, announced , Tester-
T. H . Bahfield. Robert W.
Mount and John C. Veatch. all of
Portland, hare been named to -re
present the shareholders when
Mott adrised the goternor "suffi
cient progress has been made in
tne affairs of the company .. to
Justify reorganisation." Herbert
Gordon of Portland will be plac
ed In actlre charge of the asso
ciation's business In the reorgan
IzaUon, Mott was adrised.
The Union association was tak
en oxer by the corajratlon com
mission a year ago for operation.
u la a mutual concern and has
shareholders in all parts of Ore
gon and in a number of other
states, Mott said. Carl Johnston
nd C A. DeGrace, former mana
gers of the Prudential group, of
which this was one of its main
firms were- recently enn!rtat tnr
alleged improper manipulation of
.lunas, tne commissioner, said.
- Profits Are S55.500
"Since taking orer the associa
tion." Mott said, "the set accum
ulated . profits of - the -eoncerm.
over and above all expenses ot
operation by the corporation d
partment, have amounted to $55,-
575.84. Out ot this amount It baa
been necessary to set up certain
reserves amounting to SZ6,310.-
1. which-had been depleted byl
the Prudential - management oi
the association. We have also
charged off a worthless asset in
the amount of 22,159.f 1, which
represented that amount of funds
of the association which had
been unlawfully diverted to the
Prudential Bancorporatlon and
which Is a total loss on account
Of the Insolvency of the holding
company, and In addition thereto
we have paid off an indebtedness
for borrowed money '. of : over
1160.000. leaving a book surplus
at this time of J7.603.J1 in the
accounts of the association.
Wife Poisoning
: Case Proceeds:
Jury is Chosen
MUSKOGEE. Okla., Oct. IS.-
(AP) The murder trial of the
Rev. S. Althea Berrie,' charged
with poisoning his first wife.
moved rapidly - through ' opening
stages today with completion ot
the Jury at mid-afternoon.
The Jury is composed princi
pally of middle-aged men. Mr.
Berrie was pastor of the large
Cumberland Presbyterian church
here before his arrest. His first
wife died last soring and Mr.
Berrie was arrested Aug. f, sev
eral weeks after he married- Ida
Bess Bright, a young Sunday
school teacher in his church..
Installment Debt Payment
Would be Made Possible
By Proposed Bill M-
High, hope that "the National
Retail Credit association will get
Its proposed amendments to the
national bankruptcy act through
the short term of congress Is con
veyed In a communication from
the national office to Roy was-
sam, manager of the Salem Retail
Credit' bureau.
The amendments now proposed.
according f to Mr. Wassanv will
permit an Individual harassed by
garnishments, but wishing to pay
his debts In installments over
period of time, to do so without
resort to bankruptcy through am
ortlzatlon proceedings which has
been made a part of section 75 of
the proposed Hastings bill. If the
debtor accepts this method of set
tlement, and then through no
fault of his own fails to pay his
obligations, he then receives
discharge of his Indebtedness, but
If he does not go forward with
his own settlement In good faith,
he is adjudicated a bankrupt and
in the course of that proceeding
will not be relieved by a discharge
from debts for the necessities of
Other amendments which the
retailer Is supporting, according
fb R. Preston Shealey, washing
ton counsel tor the National Cre
dit association, are those limiting
the benefits of . voluntary bank-j
ruptcy to persons owing not less
than $ 5 5 tn unsecured indebted-
ness and suspending - discharges J
where the . bankruptcy has beeni
brought about by extravagance In
living, f peculation and gambling.
A fifth amendment would prevent
a practice of today which permits
an individual to file a voluntary
petition In bankruptcy, then be
adjudicated as a voluntary bank
rupt andr thereby automatically
suspending the collection ot debts
by Judicial process and then by
falling to apply for a discharge
repeat this process over and. over
again. . ,i ... -
Mr. Shealey, in speaking before
a conference pt business men and
lawyers in St. Louis last ' week.
pointed out that when the present
bankruptcy act was passed . in
1898, retailers sold almost entire
ly for cash, but that now nearly
127,000,000,000 of retailers sales
to the consumer are . tor open ac
count or Installment credit.
This condition has caused indi
vidual bankruptcies to Increase
nearly three times as fast as mer
chant, bankruptcies.
Knox Promoted
In Guard Ranks
Major Roy Knox of Portland
was promoted to lieutenant-colonel
In the.. Oregon National
Guards, it was announced ' Wed
nesday by Major-General George
A. White.. Knox has been in the
national jrard for 20 years and
served overseas in the World war.
He will be assigned as division
Heads Taxpayer League's
Drive on ! Referendum, . ,
1 Consolidation Bill V
Stating . that the unification
system as devised by the state
board of hither -education had
wrought chaos in the hfgher ed
ucational institutions ot the state.
Percy Cupper, former state engln
eer, announced . weanesaay tnat.
at, the request of ' the Marlon
County Taxpayers league, he
would direct the campaign in the
interests of . the two measures
which the league is sponsoring
namely,' the referendum on the
legislative appropriation of II,
181,000 tor higher education and
the School Consolidation .bill.
"I have given the consolidation
measure the most careful eonsld
oration, said Mr. Cuppe!.- "The
present financial situation calls
for many readjustments in state
affair, and while I appreciate
that these changes should be
brought about without unneces
sary distress to persons or locali
ties, the present chaotic condition
into which higher education has
been thrown makes this an oppor
tune time to make the changes
ehemical warfare officer of the
41st division, over which General
White is commander.
essential to the best Interests ef
Oregon. . . ', . . .' "
'It le Inevitable that consoli
dation will come as an economic
necessity. The greatly reduced en
rollment at . the college and un
iversity this year make this a
practical . certainty. The :, heavy
tailing off occurs In the freshman
classes, which are only about halt
of .last year's, freshman enroll
ment, indicating that . after the
graduation of the present upper
division classes, the total enroll
ment may drop to one-halt of last
year's enrollment- Under ' these
conditions, the consolidation plan
may . operate to the -ultimate bene
fit rather than - the detriment of
Eugene oa , the theory . that a
strong teacher's college,, will at
tract more students than half i
university. - A strong teacher's
training-school such as the bill
provides for' at Eugene, utilising
the university buildings,. is essen
tial in order to raise, the present
low standard of our. - normal
schools. ''
"It should be remembered that
most Oregon children 'do not at
tend college, and the elementary
training la therefore of prime im
portance. I am convinced that the
Junior colleges at La Grande and
Ashland will have a greater en
rollment than the present normal
schools at those points, thereby
increasing their efficiency, as rec
ommended in the federal survey
report. Surely there are more stu
dents tributary to these schools
who desire college training than
teacher training."-
rinding a man to replace Char
lie Cobb, tackle, will be Coach
"Clipper". Smith's . biggest . indi
vidual problem at North Carolina
l State college this season.
errydale ' Telephone company
held its annual meeting Jast night
n the high school auditorium. All
officers were reelected for the
coming year: President. Cv L Gil
son; vice-president. William Sta
ple ton; secretary-treasurer, Mrs.
H. A. -Lee. Mr. Stapleton will be
lineman as in the vast.
Mr. and Mrs. Andrew Campbell
spent several days last week at the
Pacific - International Livestock
Exposition In Portland. Mr. Camp
bell is always interested- In. tine
stock, having one ot the most up-
to-date dairies In the connty. He
has a fine herd of registered
Guernsey cattle.
Takes Doc for QwaU
"Doc" a purebred white Collie
belonging to Ray Mitchell; was
shot by a careless hunter who said
he took .the dog for a quail. "Doc
was highly valued as a stock dog
as well as a family pet.
Lodge Anniversary
Will Be Observed
At Woodburn Soon
lw2IlbkJ oooo
time (Great News
foMF a5o & aGo
The Greatest Savings of the
Year We Offer You for These
1 1 1 1
WOODBURN, Oct. If. Home
Rebekah lodge met for-the first
time in the new Odd Fellows hall
which when entirely furnished will
make a fine lodge hall. The' anni
versary, celebration which was
postponed on account of the Odd
Fellows hall being burned will be
held at the next regular meeting
November 1.
The committee on arrangements
la Miss Mabel Jackson, Mrs. Car
rie Finch. Mrs. Laura Lives ay; re
freshments, Mrs. Christina Math-
leson, Mrs. Mabel Mendel. Mrs
Hattle Peterson, Mrs. Mae Otjen
Miss Nona Otjen.
Throughout this enormous stock of real quality merchandise you will , find in every depart
ment, values that have never been equalled prices that are made possible only through our
affiliations and tremendous volume, taking advantage of every opportunity to bring to our
thousands of customers, particularly at this time, the savings that every one has awaited So
without fail be here Friday and Saturday.
Nearly 200 fine suits and top coats, many from our
regular high grade stock and many purchased from
manufacturers in distress at far below their actual
worth. Fine all wool worsteds, cassimeres, tweeds,
etc. Finely tailored in every popular model. Here they
are in this great selection at a most astounding value:
Others from $10.75 up
The Champ. Fine, plain color broadcloth,
fuU cut, ex-well made and really frQ
a $1.25 value. Now.
King PhlHlp Shirts. Best make. Plain
colon. Finest broadcloth . . .
Hardeman Best in the West Just in,
these new smart styles and finest for
felts. AH styles, all colors & a Reg. $6.00
value. Others O QC
at 2.95 up 0OD
The Famous Fortune make, finest leath
er, black & tans. AH newest styles. Am
oxford that never before sold OCA
for less than 5.00, Now OeO V
- Leather Jackets
Trench Coats
Eft Tin E
Boys' O'Coats All Wool Blazers Boys' Leather Jackets
. . . . , i Boys' med. heavy, and a real coat for Horse hide & suede. These are real
Finest aU wool tweeds, cassimeres, che- JSuv a QC coats and never before 6 A A
viots and others Every one the newest $1 .95 at this low price-, $443 np
and most exceptional fo nr BWJM r
values VO.VOxiv - : - Fine Broad Cloth Shirts
: : f Boys9 Cords Boys' plain & fancy colors. Wen Aft
Boys' Tweed Pants Light & med. shades, good weight and Pa and a real bay. Now
Tans & greys, newest style. Every boy a real cord for wear. Ex. Special . , Boys' Sweaters ,
TL $1.95 SLOP others to $2e95 SLOjj
Men's Stag Shirts Overalls
Heavy wt. cruiser style Boss of Road make and d0 QC C11' Buat Em Bos h Road, heavy QQ
a Reg. $6.50 shirt. Now Extra Special J D blue, union made. Now Ex. SpedaL.. .Oe7 1
Santas $2.95 : , $4.sonT,
: lir D 7i . n . , Can't Bust 'em Cords N
Water Kepellant Coats , Light & med. shades, heavy wt. Somt slightly lmpe-
Extra well made and Reg. 6.50 value. OA QC feet. Cl OC CO AC
Now Special L trie7 J Ex. Special . - . OA JuU others vJJ np
Coat Sweaters " Golf Coats
All wool, brown and green ' 41 9Q Gentiine alligator. AH shades and a . Clt Af
heathers. Ex. Special ..i:. - V real coat for golf. Now ' , , UeUil,
Dont fail to see our window of yjft j7 yffJ ff?) SiF &JLleia Leading Uea'js Stort
the Dog Family Made from- lJMiJ : 1 " 7Mf ' 'S -
Bishop's famous yarns. rciXmilNQ'001JIS MIHO PTOSIS v'J" ; ' ' Opea Till ' -
... I-
9 A.M.
You WiU Profit By
We Cannot Re-buy To
Sell At These Prices
There is just one statement necessary
Made jf the heavier ma
terials ideal to wear with
leather coats.
Knitted Dresses
Fine for school and of
fice wear, no we haven't
made a mistake, the
Self Serr ice Section
Odds and ends of silk
crepe dresses, all on one
rack, choice
. New Fall materials In
black, with lavish fur
collars and fur cuffs.
Kiddies' pullover and
coat style sweaters, hea
vy and medium weaves.
Berets, tams and wool
hats, all of our higher
priced styles included
There are two racks of
these stunning fall cre
ations, wonderful values.
A few old dresses in
printed silk crepe de
chine, we will clear them
out at
Odds and ends In wrap
around blouses, silk 65c,
2 for $1; Cottons
3 for $1.00 -BAGS
Genuine 1 leather bags
with coin purse and sip
per compartment. ' : '
Ladies' new winter hats,
the brims go up, the
-price goes down
Leather COATS
Our entire rack of leath
er coats in suede and
capeskins, choice
$4.95 v
Women's sweaters, high
colors, round and V-neck
pullovers. Choice
' $E.G
All odds and ends in our
knitted suits grouped on
one rack for f
A whole table of odds and
ends, we cant tell yon
ereirtblns that will he
there hat there are ray
on erepe slips, rayon pan-' .
ties, steplns both tailored
and lace trimmed, and
oodles, of other tittle
dainties. Choice
Kiddies' UNDIES
Odd lot of cotton union
suits, rayon panties, step
ins,' etc
; : '8 for $1.00