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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (March 3, 1933)
il 'J-- Z SERVICE, . weather; . UaaeCUl wttk raU today, and ' Satarday, moderate' temperatare; Max.1 Temp. ThxcidMj H9, Mi. 40, river; 13 feet, raia .09 lack.' i .V-t'Wa guarantee our carrier eervlce. If your paper dee - ot arrive by :ltt call 0101 '; and m copy will be delivered mt once. -1-. " I 'r AY l fTl vL U Hit-. if!. ' ' w POUNDCD1 ItlSl EIGHTY-SECOND YEAR Salem Oregon, Friday Morning, March's, 1933 No. 292 LI tex k 7 LfU U U trhoii U U If U U U L Muse Approves Sales leasnre 41 to 19 To be Speaker Ot Next House iebate Favorable Margin is Heavier Than in Extra Session Lonergan Effective in Presenting Need of Land tax Relief HUNDREDS DEAD IN QUAKE OVER EASTERN JAPAN A general le tax, with a one half ot oso per cent rate on whole saler's and manufacturer's gross revenues, and a two per cent tax on retailers' gross incomes, passed the honse ot representatives here Thursday at 4:30 p. m., 41 mem bers voting aye, 19 voting nay, none absent. The ratio for the tax was heavier than in the spe cial session when a sales tax car ried S 4 to 20, six members absent. The sew tax, it passed by the senate, signed by the governor and not disapproved in a referen dum test, will bo effective for two years. All income derived from it will go directly as an offset to a real tax on property and in 1934 and 193 S the personal property tax will bo eliminated. Proceeds ot the tax after 19 3 S will be di vided equally with the 38 counties of Oregon. The house vote on the measure was: Ayes: Allen, Beckman, Belton, Best, Chrisman, Clarke, Cooter, Dammasch, Day, Duerst, Gordon, Gouley, Graham, Hall, Herman, Herron, Hill, Horan, Huntington, Judd, Keasey, Lonergan, Lynch, McCloskey. McCornack, MePhil lips, Nichols, Oakes, Paget, Price, Semon, Snedecor, Snider, Stock dale. Turner, Walker, Weather ford, Wells, Winslow, Wyers, Mr. BnelL Nays: Abrams, Bensett, Childs, Deich, Dickson,- JSckley, Hilton, Johnson, Kelly, Lang, Lewis, 'Mar tin; -MeAlear, MUler Oleen, Panl- ns, Ryan, Scott, Staples. Lonergan, Snedecor Bear Brunt of Affirmative Side A tense, crowded gallery look ed on as the debate which had started in mid-morning wore to a close. Frank Lonergan, who with Estes Snedecor ot Portland, bore the brunt of the floor presenta tion of the affirmative argument, closed the debate with the beet house address made during the session. Lonergan talked tor an hour while house members listen ed intently. PolV.'Of the house be fore the vote showed only a nar Morgenthau Will Head Farm Board; To Alter System WASHINGTON, March I (AP) President-Elect Roosevelt tonight announced the selection ot Henry Morgenthau, Jr., of New York to be chairman of the farm board. Mr. Roosevelt in the same an nouncement said ho p:oposes the regrouping of all farm credit functions and activities of the na tional government under one farm credit agency which is expect ed to embrace not only such func tions of the farm board as desir able including the financing ot cooperatives but also land production loans of the agricnl- IlliliUlS UUliyi e-mail uei SSSTiil Demo Nomination for operations now under the recon struction corporation. Tidal Wave Adds to Horror Along Coast; 532 are Known Victims Many Missing, Total may be In Thousands; Property Damage is Heavy HENRY T. RAINEY Hf ISSUED OF E ram Garner Successor U DEATH PUTS 1 n 1 1 L Body Taken to Washington; Mrs. Roosevelt Cancels Some of Functions ENROUTB WITH PRESI DENT-ELECT ROOSEVELT TO WASHINGTON, March 2 (AP) WASHINGTON. March 2 fAP) A rugged, white haired middle westerner, Henry T. Raln- ey ot Dllnois, was chosen by the democrats ot the next house to night to hold the speaker's gavel In the new congress. In caucus the party members nominated him for the post. This action, equivalent to election, el evates him from his present posi tion of democratic floor leader To the latter position Representa tive Byrne ot Tennessee was elect ed by a margin of one vote. He received 151 votes to 140 for Bankhead of Alabama. Rainey won with 166 votes, fifteen more than a majority of the 301 pres- Mrs. Franklin D. Roosevelt, ent. Representative Mcuurne oi aboard th anecial train earrvine Alabama, the party whip, was sec- hr hnhni1 anil horaolf tn AVaah. I ond with 112 votes, Rankin of lnrton. announced tonltht that Mississippi, received 20, Bank ont of respect tor the late Sena- bead of Alabama one, and Jones TOKYO. March- S (AP) The Tokyo newspaper Asahl's comnilatlon -listed BS2 neraons Clled and SOS missing after an earthquake and tidal wave de vastated the northeastern coast of Japan early today. Authorities feared the death toll might run Into thousands. The dreaded wall of water en gulfed 1400 houses, completing devastation begun by an earth quake and resultant fires. The navy was hastening six de stroyers from Yokosuka and four from Omlnato and four seaplanes from Kasumlgaura to the relief of the stricken area. Shinlchi Kumitomi, director- general of the central seismologi es! observatory at Tokyo, said the earthquake at its epicenter probably was greater than the Tokyo earthquake of 1923. Kamaishi's tragedy, as told In Morloka police reports, was typl cal of towns on the whole coast during the night of death and terror. The earthquake caused 900 houses to collapse and started many fires. The majority of In habitants, remembering their generation's experience that ti dal waves were the sequel of earthquakes fled in nlghtclothes to the neighboring hills leaving the fires unchecked. Kamaishi's death toll was fear ed more than 100 persons. May FOUR NEIGHBOR jfI 77 77 Mamlt b e in zumg Laws I onug, 77 - STATES JOIN 1 BANK Institutions Reopen BANKERS MEET DespUe Holiday and m mM fiinf f i sV)tif f flO I VI Itl i uui it, Mziiimiiv vytuvii nrnnrnm mil MtLllHL dill EVENTS IN STATE AND NATIONAL BANKING STATUS Washington, Idaho, Utah Latest to Join With General Program Wisconsin 23rd to Adopt Safeguard; Situation Varied in Nation Governor Meier by executive proclamation at 10 a. m. Thurs day declares three-day bank holiday throughout Oregon, following California closure. Portland and Salem banks open at 11 a. paying all checks dra.wm for reasonable oanmsee. Majority of other banks In state reopen by noon with re trictad withdrawals. Legislators and bankers harry bill for introduction in session last night authorizing legal steps by banks to restrict holidays Thursday night; Nevada, Arizona and Texas banks close dor tmr tla.v. Growth of banking holidays in nation marked. Nation leaders AiaMna ltaAtlon and consider federal guarantees, ULiHriA wasn., Marco z Martin tonUht proclaimed a T7UNANCIAL disturbances which broke out in Michigan a three-day banking and financial W foi-triiorht aeo reached Orejron yesterday -when Governor heiiday for Washington effective Juliua h MeIer declared a three day state holiday which per it onl. mttted banks and trust companies to suspend business if . v they desired. The proclamation was issued at 9:45 a.m. BQJSE,,: March 2 (AP) Thursday, following conferences with Portland and up-state Statements Stress Faat' Oregon Institutions Entirely Sound Trend Elsewhere Declared Responsible for Steps Being Taken Here Following oh action of several surrounding states, acting Gover nor George E. Hill today declared a 15-day "bank holiday" In Ida ho, effective, tomorrow and end ing at midnight of March 17. FEUL B ARREST SALT LAKE CITY, Utah. March 2 (AP) Under the au thority of a bill passed by the Utah legislature tonight. Gover nor Henry H. Blood tonight is sued a proclamation declaring March 3, 4. 6 and 7 legal holi days In this state. The procla- OF If DF01 CHIEF MEDFORD, Ore., March 2 (AP) County Judge Earl H. Fehl today Issued a warrant for i the arrest of Clatous McCredie, tor Thomas J. Walsh she would in all probabilities cancel prac tically her entire social program Incident to the inauguration. of Texas two. Rainey's nomination was brought -about when Byrns and Crosser ot Ohio, withdrew from F. I PLUNGES IH Inanruratlon arranrementa had the raee, and Cullea ot New York to go on-, however, and plans for threw the full weight of his big the more important formalities Tammany delegation to the 1111- were left unchanged. However, I nois veteran. Mrs. Roosevelt let it be known that none of the Roosevelt fam ily would participate In any the social activities connected with the inauguration, except tea and dinner at the White House Saturday afternoon. iTUOB WASHINGTON, March 2 (AP) To a capital stricken with grief at his passing. Senator Thnma S. U'ltfih of Montana re turned in death tonight while u ; WARREN MIES TO HEAD SALEM ELKS row margin the tax. When the him tribute a. roll was called, not a member ex- one of lt9 ontsUndlng gares. "$ ,BSH!T0 "A A. Warren Jones was chosen exalted ruler to direct the No. Or- nlalned hla vote. Each man voted . ,.f rnr t , Un- " ot Elks, for the coming 12- tersely and clearly and before the ,on"sUtn Btood m silence, the months, according to the results Tflii call vm nmii com Die Lea. ina w.. . vata. civtbiuu ucm-o. Preeldent-elect Roosevelt's choice towards acceptance oi wo tax, for tho attorney general's place in his cabinet was taken from the Florida limited and to his apartment here. The widow, the former Senor Berex Chaumont de Truffin of Cuba, to vhom the senator was (Turn to page 5, col. 4) termed by house leaders the most Important legislation to come be fore the 37th legislative session. Lonergan, speaking with all the force of A ex-Notre Dame foot ball star, made a furious attack on arguments against the general sales tax in his address. He de clared tne tax was a replacement, TT - f TT.J not an added tax; to be imposed W Iieeler UTgeU. upon Oregon citizens to keep, the I TXyf-L. 7, X. tate and its counties from bank- ft Qf W 31 SH JOD rupicies. Sales Tax Needed to Avert Tax Strike, Says' "A tax strike is near in this state and I am not an alarmist," Lonerzan said. "The tax on real property at the present time is th. ,ent a telegram to Franklin D. most ff. Roosevelt, president-elect, urging the farmer. A sales tax will be in- Rt,.tftr Bnrton "ergfno1 lobbies which Whaler of Montana, attorney d doJnowVaalesx "We 1 that Senator Wheeler -Boys who don t knowj aales tax ,Hh!lentl- known nationally . 7 vni T ibbwIm m an- to be acceptable." th- telegram Zr w5h K i')t?Ims " he fried. "I read. -He is particularly qualified ier teJ?Ss,,..,!l.: as a raiult ot his known Ideas on 3 . eorporillon. banks, trusts and 7. .riiffHaliv ntlmulated." the wei;t Is enUtled to a position . . a. LeRoy Gard is the retiring ex alted ruler, now voted to the position of "alternate representa tive to grand lodge." Other elections were Frank Lynch for esteemed leading knlitht. Armln Berger for esteem ed loyal knight, and R. O. Apple by for esteemed lecturing knight Harry Wiedmer was reelected se cretary. James M. Clark namea treasurer to succeed Edward Za hara, and E.0. Ammann was re named tiler. H. H. dinger will Itlnn rf truntAA for A "Rrr Solnn! Here three-year term. three leading officers o? the 1701 members of Salem Elks lodge, each advanced one step. The new leaders will be installed at a ceremony to be held the first Thursday of April. WASHINGTON, March 2 (P) Franklin D. Roosevelt came to Washington tonight to take the presidential oath and found anxious government leaders at his doorstep. He was kept in conference un til after midnight with party lead ers from Capitol Hill, the new secretary of state; Senator Pitt man of Nevada, the next chairman of the foreign relations commit tee, and Senator Byrnes of South Carolina, economy expert, were closeted with Roosevelt for sev eral hours. Leaving the suit of the president-elect Senator Robinson, in response to Questioning, made this statement: "All we can say is that we have had a conference with the govern or (meaning Mr. Roosevelt). Va rlous matters were discussed in cluding the banking situation. There Is no announcement to be made at this time. A group of Ojegon '-ialato-a and J. E. Bennett, Portland city commissi ner, Thursday night Wisconsin Will Vote Early for Dry Law Repeal MADISON. Wis.. March 2 API Wisconsin set no the ma- SJtZm.-nld ta in view of the ry today for a statewide fouxht with equal ardor for an splendid vote the western states TOte Aprll 4 cn ratification t lncomo tax after its defeat had gave you." prohibition repeaL been threatened and represent- Legfclators who signed the tc- Legislators said the action tives had been told the people naa i egrain -erw wuiu.d i proDaDiy win mi. nu'""u " five times defeated auch a tax. lie i tmrxe, Dirayer, vic&uu . nrat BW9 . TOI.e va cotfed at argumenU that a sales resentalives Hlltc. Weatherfora tloa 0f the repeal amendment in- This One Greets Banking Holiday SACRAMENTO, Cal., March 2- (AP) Peter Farrington, who at tempted suicide at Folsom prison today while waiting execution for slaving Policeman John Malcolm in San Francisco, was reprieved by Governor Rolph tonight be cause the ehlef executive could not ascertain the effect the bank holiday has on the status of a condemned man. Farrington's ex ecution was stayed until March 10. tlon.' Medford chief of coliee. charging matlon declared "an extraordin- Ufm witn refusing to obey orders ary condition exists throughout ot tne COunty Judge to produce tne nation justirying sncn ac- fonr defendants In court for a hearing on habeas corpus pro ceedings. A restraining order --n '.u circuit court, signed Judge Duncan of Klamath Falls, how ever, was served on Judge Fehl, directing that he certify to the state court an matters pertaining to the habeas corpus proceedings and "desist and refrain from tak ing any further action in said criminal actions." The order recited .at Judge Fehl was an Interested party la the proceedings, since he is Joint ly charged with the -a'; with burglary In connection with the theft and destruction of 10, 000 ballots from the Jackson county cor-thouse February 2 1. SAN FRANCISCO. March 2. (AP) States of the far west were generally without banking facilities .'tonight under holiday proclamations issued by seven goTeraors, following the lead of Governor James Roipn, ' r- ot California. The major part of deposits ag gregating approximately $3,000,- 000.000 were tied up in the states of. California. Oregon, Washing ton. Idaho, Nevada, Arizona and Utah. In all instances the proclama tions were state-wide, though dif ferences of opinion existed as to whether any of the "holidays" were mandatory. MADISON, Wis., March 3. (AP) A two weeks' banking moratorium in Wisconsin, etfec-1 tlve today, was proclaimed in the absence of Governor A. G. Schem ed em an, who Is in Washington. THOMAS D Ei IS If (By the Associated Press) Protection and assistance ot 22 commonwealths had been given last night to the individuals and business firms having deposits in financial institutions. (Turn to page 5, col. 6) PPOSTINT 1L February Proves Rainy Month as 5J8 Inches Fall Last month was the rainiest February here since 1930, accord ing to Mrs. J. W. Ritchie, govern ment observer. Precipitation for tho month was 5.38 inches, Just 1.06 Inches less than in February, 1930. Rainfall In Ferbuary. 1931, was 3.42 Inches and in 1932 exact ly two inches. Public Utility Commissioner Charles M. Thomas Thursday branded as false any rumors that he does not want senate bill 19. giving him additional powers in the regulation of utilities, passed In Its present form or otherwise. "I have received the informa tion," Thomas' statement read, "that the head of the utility lobhy and his assistants are actively en gaged in circulating a statement that I would welcome defeat ot senate bill 19 either In its present form or with amendment. "It Is said that I desired to have the bill defeated so that the Issue Involved might be used by me as a platform upon which to make a campaign for governor next year. "This is a deliberate falsehood Heaviest dally rainfall last and is being usea soieiy ror me month wai 0.94 inches, on Febru- purpose of injuring effective and r i s. on nine days there was I efficient regulation. Governor no rain. Only two days of the Meier will be a candidate to sue- in on th were clear. eeed himself and the charge that I am harboring ambitions against my chief implies the height of dls- hnoorable conduct. tax penalised children and moth J and Lewl. ars. Banners ana unemp.ojeu. 5STSS ped'oi by 'rlWBomb Explodes In Residence of Cuban Official nd that the rates are higher un der the average millage paid by tho retailer than the sales tax would be. Accusations Branded . As "Damnable we trodnced y her native son, Sena tor John J. Blaine and recently passed by congress. Cummings Likely To Fill Vacancy WASHINGTON, March 2 HAVANA. March 2 (AP) A TjMiArrAn'a temoer flared when 1 v-v nxnloded tonight in theAt. friend of President-Elect v. ata that a "damnable He" 1 ...rtm.mt of Dr. Armando Gall vw.A-riit vera convinced tonight iit haen told against him in the Um,njM. an employe of the! that Homer Cummings of Connec- apecial session when he was ac- treft5jorf department and a hro- tlcut, would bo his choice to take cused of having Interests ''with tner of M.Jor Gall Menendes, an tne place ot the late Senator Wall atreet and tho bankers, -i,,. to President Machado. . Walsh ot Montana, as attorney "Such lies are the reiuge wi jho wif e and eight children I generaL scoundrel; ;.Lonergan declared, l- nail Menende were- in the - adding that ho would nave xwi i artm,,nt at tho time, but none jy Dfi-fv Tssinc from a sick oeA to attack the man p . Tn0 bomD Wew cni eT. tSQQ JKUtn JOWS If hit wlteOiaif permitted .him. itdow and spread debris the yrf J niU cu "nonest. lust, equit able, tilling In the tax program of the state." He pointed out that the credit of tho stata was impair ed when Oregon highway bonds altered this week in tho money ...v.u krnnrht no bids. 'Are Ron Pioneer Orates but Hani Ones Get TAcenses J enoi uiry JLV' v-w'v -w.. I aw W t 1 Alone Leit To Chinese bankers which began at midnight when news of a tnree-aay uaii- fornia holiday reached here. Portland bankers, while among the financial leaders in the state who sought the holiday, quickly adjusted their affairs yesterday and opened for business at 11 a. m. Thursday. Salem's three banks opened at the same hour and did a steady business throughout the day. No arbitrary limitations on withdrawals were placed by the local banks, all legitimate needs of depositors being paid. MORE After a short flurry ot curiosity and concern which arose at 10 a. m. Thursday when the banks failed to open, the day passed qui etly downtown here, business go ing on in most Instances as usual. No Cause for Alarm In Oregon, Stressed There Is no cause for alarm over the condition of Oregon banks," A. A. Schramm, state banking superintendent, said yesterday. In his proclamation Governor Meier designated Thursday, Fri day and Saturday as legal holidays to permit the enactment of nec essary regulatory and stabilising legislation in line with federal en actments and legislation passed in other states." Bankers from varied parts of the state gathered here yester day at the capitol to confer with Mr. Schramm and legislatiTe lead ers on an act which will probably be introduced in tho session to day. The measure which will amend the state banking code will give Oregon power to operate un der tho newly-passed Couzens bill hlch went through the United States congress last week. The measure contemplates authorizing state and national banks to re strict deposits, it desired, and gives more power to the state bank examiner to declare bank re cesses when they are Judged to be needed. i Attorneys engaged In preparing the new measure, had before them copies of similar bills which have recently been enacted into law In numerous states of the union. Entire Resumption Monday Expected By Monday It is expected that the banking situation in this state will be sufficiently smooth ed out to permit entire resump tion of banking activities. Local banks accepted deposits yester day, checks bearing the date of March 6. Many bankers were doubtful if any restrictions on deposits would be necessary and expressed the view that legisla tion sought from this session would be mainly to meet future emergencies as they arise. Tho statewide holiday here fol lowed California's three-day clos- (Turn to page 5, col. fi) Sponsored by tho basking committee with the approval of Governor Meter. Stuto Superintendent of Banks A. A. Schramm and a master of lending bankers of Oreawn who gathered here Thursday, the bin designed to safegnard stability of financial fans, ttons was introduced tn tho honse of representatives Thwra day night and under suspen sion of the rules, was mad a special order of business for consideration this mora tug. In brief, the bin permit th state banking board, tn time of necessity, to order any hank or trust company to suspend or restrict payment of the Ha bfLltje of such firm, but spe cifies that this shall not consti tute, nor be deemed, an act of insolvency. In addition it would permit banks to receive new deposits in time of restricted withdraw al, the latter deposits however to be subject to unrestricted withdrawal. Effect of the measure would be to, allow normal, unrestrict ed use of funds deposited after certain dates and to set up any necessary restrictions concern ing monies deposited earlier. ar tTKMkST PLANNED I ST. PETERSBURG, FU., March WASHINGTON, March 2 (Fri-1 1. (AP) Babe Ruth ea P j.- dPitn annareniiv re-1 tA tMinira noie oh va rau it.it. tM4: Ariv todav had it i rolf course today, aimed at the liav.v -.-I , I " - j - . X? that F-eeident Hoover wouia is-1 green u yams wy - r: r..y.V Ar a afraid of we a )ublic .uwneni ' .L'Z. i77i .Mf. rri -n,ell Te1rr i Wn Banking ?nd otner : ffl,W,.u.Mv- the Hole-lh-One elub. a teanot" tumult, featuring Rep. John H. Hall of Multnomah county as "tho boy pioneer, xepi members of the state house of representatives and gallery amus ed last night for tho better pari of as hour In discussion of house bill 449. providing for issuance of freo hunting licenses to -pioneers" and war veterans. The bill drawing tho jiuitno- mah representative's wit wouia nrovldo that veterans of the Span ish-American war, tho Boxer re bellion and other enumerated wars, and "pioneers wno, nave wn residents of Oregon contin uously for 10 years," shall receive free hunting and tuning licenses. . "This bill is tho bunk," volley ed Hall. "Under It every one who hannens to have lived in Oregon for the enumerated period auto? matleallv becomes a pioneer whether he likes It or not Under It soma' ot our best pioneeri are out .there tn tha big house the state nenltentlary and entitled to free hunting and fishing rlzhts." Golnr through the age data of numerous house members. Hall roused merriment by reciting tha number of years required ot var- o lous individuals to reach the sta tus of pioneer. Why under this measure Rep resentative Nichols of Douglas eonntv rixht now can shoot his eon ears and keen tho wolf from CHINCHOW, Manchuria, March the door," Hall Jibed. 2 (Friday) (AP) japan s six- "Under the bill even I wouia do leentn mrantry nrigaae anuer elirlble for consideration." Hall I General Tad as hi Kawahara was concluded, "and 30 years from reported to -have occupied Plng- now I could apply for a free li cense as' "John Hall of Multno mah county the boy pioneer- The Day in Washington By the Associated Press) Representative Rainey of Il linois was nominated by demo . craU for speakership of house, which Is equivalent to election, and Representative Byrns of Tennessee, elected floor leader. Senate and house adjourned out ot respect to Senator Walsh (D-, ehuan, about 10 miles east of Je- hol City, today. Tha Japanese announcement ot tho occupation did not mention Although Hall's speech evi- any fighting. Jehol City, tha cap- VtMt monriliki .fa - ...... IV. 1.111 I l.-l V . ..1. AV.s tmnAVa I aentiy was appreciMoa, wu wi mi, wu mj " 1 death, was nassed with an amendment I city in tho province held by the I that the words, "any citizen,' be I Chinese. I Senator-elect McAdoo (D nbstituted-for tho objectionable! Pingchuan was reported enterea i cauf.) aarocatea. cioiung oi at 11 a. m. I New York stock exchange in present banking situation. pioneer." Nichols made reference to the time ot "tallow candles' and of "ridicule being heaped on - gray hairs." Representatives -Echiey and Day reminded that tho meas itself was insignificant in ef fect and a "gesture" in according 1 ST. PAUL, March 2 (AP) recoraittlon to veterans and old-1 Governor Floyd Olson today slgn- tlm eiUsena of Oregon. I ed a bill permitting postponement ' Aetna.1 .ecomnllahments of thai net-to exceed ' S 0 Vdays up, to Legislation to put the Oregon financial situation Into order was expected to be introduced fa the legislature today and rushed through, if possible- by tonight. -Bankers of the state, in confer ence here late Thursday, agreed on the program of legislation, and at the conclusion of their confer ence issued the following state ment: "Mr. Schramm has been in tele graphic communication with tho comptroller ot the currency asnt the banking departments of many of the large eastern states dsrtag the two weeks intervening sraea the date when the state of Mleb gan was put on a holiday basis. j "He received from the comp troller of the currency copies ot the new legislation passed by con gress last week for the protection ot depositors in national banks, as well as copies of laws passed or' which are pending In tho leg islatures of New York, Ohio, Delaware, Maryland and Washing ton and many of the other states. "During the last few days, be has also been In Intimate touch with Oregon bankers scattered well over the state. Acts of Neighbors Necessitate Move "California, Nevada, Arizona and Idaho went on a holiday basis last night and after consulting with tho leading bankers of tfeo state, the governor called a three day holiday for the protection of Oregon bank depositors. "All of those present at the conference expressed their full ap proval of the action of Governor Meier in calling a temporary holi day until such protective meas ures may be adopted as seem wise to the legislature. All recognised the fact that Oregon banks were generally in a very tine condition, but they also recognized that account ot the large basiaesa transactions between tha people at Oregon and California that tt would bo impossible for Oregon to continue with business &s anal while California was on a strict holiday basis. "It was unanimously agreed that protective legislation ought to be adopted at this session; oth erwise, daring a recess ot tha leg islature. If a real emergency arose. It might entail tha recon vening of the session." Prominent Bankers Of Oregon Convene . Among those who attended the conference were: T. N. Edlefsen, United State National bank. -Portland; C. C Colt, First National bank, Port land; Charles H. Stewart, Federal Homo Loan bank. Portland; J. C Roman, American National baak. Portland; Fred E- Calllster, First ; National bank, Albany; Blaine B. : Coles, Security Savings mnd Trust or2V IS Ordered I House sent fSlS.OOMOO navy company, Portland; H. R. Craw- . V , , I aAaU4llu Will wA vtTPilvam TTrarlntJh I a.sA T A 4 A . Ttl fl TsnVYl K . ISAlATnU V 1 - fi fl KnTPPlOUTei. - I B.- B; Williamson, Albany Stata VJU r UlCLiUSUl Cbl j.dklary . committee baK;TAlbany F. S. McGarvey. nnoroved bUl for two-rear mor atorium on municipal bonds, bat enactment this seaslo doubtful. . Speaker Garner announced com- Lumberman'a National , b a n hv : Bend; Theodore P. Cramer,' Jri:, secreUry Oregon SUta Bankers : assoeUtlon; A. A- Schramm, state night session In nassag. ot bill. Aprfl II. ot mortgage toreclosar. Bpmj' ZZZnll were few. no measures et major i saiea, on au raa esia. I -..w--rv 1 . , v.w. H n-fiirt. ' B -.:' .,7. . f hum nostnonament.-of tha sale! H.9O,00i to $200.e00.te iwdvihu.w ut .w-0. 4. ... i rovarnment cost. final consideration. 10 ut oucruuun.ut ut . . dent of banks: H. H." Clara, Jay (Tarn to paga z.oow J) ? ' -"1 t MOM; I Yarn- a p