PAGE TES'1-
Ti hREGIW STATESMAN Ra!m. Th-reon. Thnrsdav Mornlnr ' Marefc 20. 1922 ? - ' - " " H --VfV
IDEA OF PMCEA IS
DECRIED BY MORRIS
Professor Sees- Profits in
Cancelling war Debts;
" Doesn't Blame Gold, -
Society j
Prof. Victor P. Morris of the
University of " Oregon Interested
Botary club member Wednesday
Boon with hi practical discussion
of "Problems of Economic Ke
eoYerjr". Decrying Ideas of single
panaceas which have sprung up
on every hand for restoring pros
perity. Prof. Morris ajso -warned
against expecting any swift up
turn when the trend 6es change:
Problems, in ' his opinion are too
complex for a single cure, and too
Interwoven for quick ending.
Admitting there were malad
justments in monetary supplies
due to shifts in gold holdings
consequent to the war. Prof. Mor
ris said that the trouble was not
with the gold standard as such.
"No monetary system can stand
up under complete liquidation,"
he said. "The trouble has been
with the spirits of men who tried
to unload. They tried to cash in
on securities, mortgages, real es
tate all at once. The recent bank
ing crisis has shown how impos
sible this Is. No banking system
can stand when everybody tries
to cash in."
Resort to free silver would
merely mean to try to raise the
value of silver, which has failed
with other commodities. Infla
tion and debasing the coinage, in
his jodgment, would not solve the
problem but bring other disasters.
His particular field Is Interna
tional trade, and Morris declared
that International factors have
greatly affected conditions. For
eign trade -has been strangled.
War debts are a big element.
"The best way would be to can
cel the war debts entirely and we
would find in a few years profits
In restored trade would be far
greater than the paltry sums we
will get on these debts, plus good
will from other nations."
Tariff wars have contributed to
destruction of world trade whose
Importance Is far greater than the
mere 10 per cent of the total. It
amounts to 50 per cent of our cot
ton, 20 per cent of our wheat and
23 to S 5 per cent of some kinds of
machinery. He said he entertain
ed great hopes from the approach
ing world trade conference and
urged that we have an intelli
gent approach to these problems
of international trade.
Finally he emphasized the im
portance of psychology. People
must get their courage up and
how more faith in order to get
out of their difficulties.
His talk drew out many ques
tions and a number of people lin
gered to quixs him further.
' Luncheon guests each received
a rose, the gift of C. F. Brelt
haupt, florist, in honor of nation
al floral week.
Birtchet Going
To Presbytery
At Independence
Rev. Grover C. Birtchet of the
Presbyterian church will be at In
dependence next Tuesday and
Wednesday, In attendance at the
Presbytery meeting of the Wil
lamette section.
Leaders of the churches in the;
valley section as far south as Cot
tage Grove and north to Gervais
r Woodburn will attend. The
main discussion this session will
be devoted to the home mission
activity of the church, and re
port of the home mission- committee.
Junior Artisans
Will Install
Junior Artisans win Initiate all
new members and Install officers
tonight at S o'clock in Fraternal
temple.
The Woodburn Junior Artlsana
drill team and officers will be
present to put on the floor work
for the ..Salem lodge. Special
guests will be Mr. and Mrs. Hud
son and Mrs. Minnie Schmid of
the Supreme Assembly of Port
land. Other visitors will be pres
ent from Woodburn and Salem
adult lodges. ,
Until midnight dancing and an
informal social hour will follow
the business meeting.
v
Miss Eloise Wright
Is Hostess
Miss Elolse Wright was hostess
Tuesday evening to members of
the Kappa Delta alumnae associa
tion. A brief business meeting was
followed by an informal social
time concluded by a supper hour.
Present were Mrs. Harris Lletx,
Miss Wilma Coursey, Miss Florian
Hrubetx, Miss Edna Prescott, Miss
Lofs Rlggs, and Miss Wright
The women's council of the
First Christian church met in the
church parlor Tuesday afternoon.
After the business hour Mrs. Batt-
man and Mrs. Drill gave Interest
ing talks on "Depression as We
See It" Mrs. W. C. Franklin of
West Salem gave a demonstration
on how to make over garments.
An all-day missionary rally will
be held In the church parlors Fri
day. In the evening the same
group of women will entertain
their husbands In the church par
lor. Salem Women's club has been
invited by the Dallas Women's
club to present the program for
April 4 In Dallas. The program
presented recently under the direction-
of the Indian welfare com
mittee, Mrs. W. H. Boyd, chair
man, is to be given for the Dallas
women. This will Include vocal
music by students of Chemawa In
dian school and a talk on Indian
life and accomplishments by Miss
Gertrude Aiken. Several Salem
matrons will motor over for this
meeting.
- -
About 30 members of the Busi
ness and Professional Women met
in the Oriental room of the Mar
ion hotel Tuesday night for the
regular dinner meeting of the
group. A short business meeting
was observed and a well received
program of music was presented
by Willamette university students.
The F. L. girls, junior Salem
Rebekahs, are .putting on their
play, "Dr. Kure All," at the Che
mawa Indian school In the main
auditorium Friday night. They
mm
ilil
IMEST IS HIIt
11
First at Hayesville, County
Federated Club Program
Next at Aumsville
Schedule of Initial contests In
the dramatic division for rural
community clubs was Announced
yesterday by E. L .Moor of Hayes
ville, president of the Marlon
county Federated Community
clubs, as follows:
Friday, March 31 Lablsh Cen
ter and Hayesville at Hayesville
community club.
Thursday, April 6 Turner and
Aumsville at Aumsville.
Saturday, April 8 Roberts and
Sunayside at Roberts.
Bethel has already been de
clared winner in Its preliminary
contest. Dates for Other club com
petitions in this event will be an
nounced shortly.
LABISH CENTER. March 29
Arrangements have been made
for the presentation of the men's
play, "When Doctor's Disagree,"
at the Hayesville' school house on
Friday night In competition with
Hayesville in the early prelimin
aries of the dramatic section of
the federated club contests.
WALDO HILLS, March 2J
The Waldo Hills dramatic club
will not compete with the Bethel
club April 8 as announced. It was
learned the first of the week that
Vera Clark who carried a heavy
part was employed In Portland
and could not take her part.
DeLespinasse Again
Heads Music Affair
HUBBBARD, March Jf . Dr.
A. F. de Lesnlnasse has been to-
pointed regional director for Na
tional Music week which begins
May 7, by Mrs. Walter Denton of
will have charge of the entire pro
gram with musical numbers and
vocal selections given by members
of the F. L. club. The program
will start at 7:30 o'clock. A small
charge Is being made for admit
tance. Mrs. James Preble, Mrs. Martha
Schmuck, and Mrs. E. J. Lantx
were special guests for the meet
ing of the Salem Women's Press
club Tuesday afternoon with Mrs.
A. L. Llndbeck. Covers for 1 5
were placed at small tables for
the attractive dessert luncheon
which preceded an afternoon of
cards. Mrs. Stephen Stone and
Mrs. Don Upjohn assisted in
serving.
Mrs. Edwin Viesko entertained
Tuesday afternoon in compliment
to her bridge club. A 1 o'clock
luncheon was followed by cards
for which Mrs. Edgar Pierce held
winning score. Mrs. T. E. Rilea
was a special guest for the after
Salem. He has appointed organisa
tion head a - hit : assistants:
School, Eugene , Silkej Woman's
club, Sadie Scholl; Rebekahs,
Edlta Painter;. Pythlaa 8Isters,
8usie Moore; Sunday sehool, El
len uari; uuua. Neva MeKenxle.
With Dr. de Lespinassa la charge
National Music week has. always
been celebrated In Hubbard since
the movement began.
ASK RECEIVERSHIP
NEW YORK. March 29 (AP)
The Fox Film corporation, the
Chase Securities corporation and
four Fox directors were ordered
by the federal court Tuesday to
show cause Friday why an equity
receiver should not be appointed
for the film company.
Ho. 68
Synopsis f Annoal Statement of
Tke Homeland Ini. Co. of America of
Sew York, ia too Slate of New York, on
tho ihirtj-firrt dy of December. 1933,
made to tho Insurance Commissioner of
tee State of Oregon, pursuant to law:
CAPITAL
Amount of capital stock paid op,
fl.OOO.OOQ.OO.
INCOME
Hot premium reeeired during tho
year. 1457,427.78.
, Interest, 'dividend and rent leeoited
inrinc tho year, 1104,793.14.
Iaooaio front other sources receirsd
earing tat. year, S3.774.27.
Total income. $565,895.19.
- . DISBURSEMENTS ,
No kites paid daring tho year in
lading adjustment expenses, $153,380.
84. - Dividends paid on capital stock w
Uf tho year, KU. i
Commissions and salaries paid daring
the year. $12,93.5S.
Taxes, licenses and fees paid daring
tho year. $37,467.8.
Aasoant of all other expenditures,
88.417.04.
Total expenditures, $417,359.04.
ASSETS
Value of real estate owned (market
valao). Nil.
Value of stocks and bonds owned
(market value). $2,248,6.84.
Loans on mortgages and collateral,
to., KiL
Cash in banks and on hand, $75,811.
te. Proaslnma in coarse of collection writ
ton since September 80, 1933. $177,344.
. Interest end rents dao and seemed,
1 8.913.69.
Beiaeoreaee reeovereola on paid loo
ses. $3,183.80.
ToUl admitted assets, $3,522,820.88.
LIABILITIES
Gross bUIsm lor losses unpaid, $87,-
07 OO (,
Amount of unearned premiums on 11
..... Jl- !-!.. ) A
Contingency Boeerre (See Note below).
Due for eommistioa aad brokerage,
f3.841.47.
An other liabilities, $18,534.88.
Total Uabllitioe, except capital, $868,
.'; 46S.09. ,
Capital seJA p, $1,000,000.00.
8urlma ore alT liabilities, $853,854.
ST. - . .
Sorplu as ( regards policyholders.
: S1,8S3,8S4.67. -
. Total, $3,833,830.88. J
- BQSISTKSS IK OREGOS TO THS
- Vat prem!nm reeelred during tho
: year, $4,983.78. :'
- -Losses paid during tho year, $1.78.$1.
- loesses weniToo, : eiarag vn jwm,
,r ;.' " St ftOA 0.1 L,. u. 4."" -.-
Kamer of Company, Tho Homeland la
SOvaaea Co. of America. . -
fame of President, Cecil T. Shallaroaa,
im mi nWrotarr. Sobers Newboelt,
" ' Statutory resident attorney -rv
f " sTfrr? lmmult difforona between
kTew York lasmrano Deportawnt Baaie
4 valnatiseu aad Ataal Marksi Qnwtor
tsnae as Psoamhoa' lldtUta.
Fmb fashions atrivt
at Ward's tvery
week in the year!
WE INVITE YOU TO ATTEND
SALEM'S MERCHANTS
Spring Style Show
Thursday Evening
March 30th - 8:30 p.m.
at the
ELSINORE THEATRE
-We will participate with a showing
. of the ' latest spring' fashions in
.:' coats, dresses, millinery and ac
. . cessories.
Montgomery Ward a Co.
275 N. liberty - Phon8774 - Salem. Ore. -
Mt. Angel Caseys .
Invite Sublimity
For Joint Session
SUBLIMITY. March St. Th
Knights of Columbus met In the
Forester hall Tuesday nlt-ht. with
a large crowd out. An Invitation
was extended to tne council by
Otto Oswald ot Mt. Angel to at
tend a meeting after Lent with the
Mt. Angel council. Edward J. Bell
and Sim Etsel will make arrange
ments lor the trip. The time set
for the Easter dues was Aprll'SO.
Rev. Father Scherbrinr also trAve
a talk.
The Dramatifl club has started
practice for the next play,, which
will be given shortly after Easter.
In the cast are Leona Holfman,
Adeline Riesterer, Jenny Minden,
Helen Riesterer, Thelma Zuber,
Bernard Minden, Leo Susbauer,
Ernest Riesterer, Lawrence Bed-
igneimer and Leonard Zuber. -
Enrollment at Scio
Largest in History
SCIO. March 28 With tha r.
lstration of Belva Baiklay Tues-
aay tne total enrollment of tbe
high school has reached 111. two
more than any previous registra
tion. Belva is a sophomore and a
transfer from Albany.
MRS. AMES RECOVERING
SILVERTON, March 19. Mrs.
Sam Ames, who was seriously 111
over the week end with an attack
of influenaa, Is reported on the
road to recovery. Mrs. Ames is a
member ot a Silverton pioneer
family and has seldom been ill.
She has gained an enviable repu
tation for her lovely gardens on
West Main street.
4-H QUARTET TO SIXQ
WOODBURN, March 29. The
girls' quartet of the Betsy Ross
4-H club, under the leadership of
Mrs. C. A. Adams, 1b to sing at
the club leaders meeting to be
held In Salem Saturday, April 1.
Members are Marybelle Adams,
Muriel Beckman, Elizabeth Pol
lard and Mildred Howe.
,".,-Vv'-"--,-"F t ."t" lit?.'. -v-!
or.-:-.,: ,--v. st J . ,.v.-..--
.v::-5:::::fr::;::::
'yj-:
r . ' 'a. . v- -.c.'-.
Fujiyama, th eighth wonder cfth world '"
la evcrj comet of the world, both hoe and oversea,
wherever you nod Joy la lift, 'tis shrsys "Indues Plcsx
First in character -first in mildness
..first in smoking pleasure
'Among smart, cosmopolitan folk,
youll hear of Luckies in many lan
guages but the meaning is always
the same 44 Luckies Please !"... For
people the world over want a ciga
rette with Character. . . and Mildness.
Lucky Strike's rich delightful Char-
- $mP v ftp;
i i f
(Oh M
acter comes from that mellow, bal
anced blend of fine tobaccos.
And these splendid tobaccos are
truly mild I Because every fragrant
shred is "Toasted". For these two
reasons Character and Mildness oecaUse
tst m M t
i xicmes r leaser u j
It's toasted,,
Onrrlcnt.lf33.Tbo
aerteaa Tobacco
Coxaaony.
Spruce Up
NOW! ON WITH PROGRESS! !
ON WITH COURAGE AND CONFIDENCE I
As This New Chapter Of American History Opens
With A New Leadei- A New Regime
NEW CLOTHES INSPIRE THE CONFIDENCE
THAT EVERY MAN NEEDS!
Have pride in your appearance and step out now for greater
things for a greater Salem and a greater Oregon.
Bishop's most extensive showing of Men's wear now offers without a
doubt the most in style the most in value and quality that assures the
utmost in satisfaction,
I! f" "'r'" I "N; i i n i m Of m !
,t Wirmiii Smartest Ulothes
IS lLm tor Men
I Ik. I v1I1ji1i Xjvvr
r " , 4mm Cheer Up
I it II m . XN:-:v;:c::v:;: ..:.- , in
i ? A " - -
I 11 1 . ' . . m x m m. --m. in. -oik ...v... si
1
I V.. . h Vk I , Have pride in your appearance and step out now for sreatir
I . " I things for a greater Salem and a greater Oregon.
! l !
' r ; 2 .
III .
III I I - I . 10 1
J k
Living Models
AT SALEMS GREATEST
FASHION SHOW
Don't fail to see the hew smart styles fo men
By BISHOP'S
Elsinore Theatre :
T0N1GHT,'8 :J0 P. It
Pacemaker Suits
Now at the lowest price ever and
Salem's Greatest Salt Value. New
shades New Styles. Excellent
Fabrics now
$1500
Hollywood Suits
The last word in Style' and
Exclusive Fabrics now
$2500 ' $3fe00
Stetson Hats. $5.00
We Invite You
Our Enormous
Selections
:; t .
K"'-Z-r r '-. r '