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About The Oregon statesman. (Salem, Or.) 1916-1980 | View Entire Issue (Sept. 26, 1933)
0 fhe OREGON STATESMAN. Salem. . Oregon, Tuesday Morning, September 26, 1933 PAGE THREE ' u ! l it nuiiEii MILLS ILUr I uuim i August 31 Financial Report Shows net Operating. ',. . "; Loss of $538 . ' . Emphasizing the"; fact that ' red ink still marks the operations of the Salem Linen mills, last week's edition of the Oregon 'Voter cites figures 'from the' financial state ment as of August 31. The com pany's fiscal year ended" June 30 and figures Quoted are, therefore, only for the months of Jhlj-abd August, this year. -". . '. - ' Sales of the company; the, Ore gon Voter says, amounted to 112, 019.' AdmlbistratiTe and selling ex penses "of $2,504 more, than ab sorbed the : $1965 gross manu facturing profit leaving net op erating los of $?38;,Cbe' addition of f 1,338 interest brought the loss to $1.86i which included an In Tentory reduction of 3,45T, "itera that might' be missing from the average Interim' report, - r Quoting' the Oregon Voter: "Fi nancial statement shows that p&I deficit, in the 1931-32 syear was $10,742 1932-33, $7,81: ' - "Company's sales of the .. 2 month period consisted of the fol lowing: yarn, $4,976; .twine,' , 751: cloth. 81.439, miscv8352. '"Plant at Salem is being .oper ated on slow-bell schedule, .single shift, with about 20 persona em ployed. . "One of SLM's most hampering .troubles is lack or sufficient work ing capital. Orders must be com pleted piece-meal fashion at times. An occasional profitable order may be lost because of inability to finance it. Interest on 8119.900 of 6 per cent mtg. and collateral trust bonds is now 2 semi-annual payments In arrears. Some change in management and management policies has been made. F. J. Gil braith is no longer in charge as manager. L. C. M$Leod, president, is directing affairs. "In spite of adversities, " pros pects for SLM are not wholly 6hot with gloom. Oregon s flax indus try seems slowly to be winning the attention and respect of flax and fibre users. A very large pro portion of flax fibfe used in this country comes from Russia. There are obstacles in the way of im ports which turn attention some what more definitely upon Ore gon. I "Even granting that this com pany might pursue a long and dif ficult toad in winning its way back to prosperity, there remains one significant future hope. Con ditions are such it is believed. that some eastern concern will covet this plant. War in Europe, or some economic development may make this manufacturer look suddenly valuable in the eyes of important interests. Offers of financing or purchase would not surprise the officers. "Properties are , said to be ample security back of the out standing bonds. Action by bond holders to foreclose because of de fault is not anticipated. A large majority of the bondholders are also stockholders, it is explained. "Brief samiuary of financial statement of Salem Linen Mills, Inc., as of August 31, 1933, cents omitted: Assets Cash - 8 201 Accounts receivable 7,610 Inventory 11,560 Consigned goods 654 , : ' - - & i J ? ;tVo. -', . ' tv;. m-. : I -' r i7i Sr - - -r-? v.c - o -- ,J iJ If i twwm !. ii m TiiiiiiiirtliiwMwiwwiwww i'iiiiiiiniini)iiiiiimi.i.ii,ji.jiiuiMiii n..juiJitLi)t.,iI ' Total current assets 20,026 Properties, equip. 303,546 Deferred chgs. . 16,863 Total $340,435 Liabilities Notes, net $ 12,645 Accts. pay. .. 21,152 Accrued liabil 10,798 Reserve for accts 9,000 Total current liabil. Cap. stock, net Bonds - Deduct: P&L deficit ... Total ..... .... 53,596 .... 187,350 .... 119,909 20,410 .....$340,435 VOLUNTEER POLICE USED ;T0H ! BROKE MORGANTOWN, W. Va., Sept 25. (AP) This city of 1.00 Inhabitants ' was receiving volun teer police protection tonight as a muddled tax situation dried up funds and . made it impossible for officials to meet all payrolls. City Manager WV Edwin Brooks said "the volunteer protection now -being given -. ia- normal ex cept that day .'beats' are sot be inr walked."; V ' . The regular police' f o r e . is - composed of ten men. " 1 The robbery of ' a residence gave rise to reports - ol an Java sion of panhandlers and beggars, but Brooks said . he knew noth ing ot such a Condition. . : -.i ; Residents went about their daily task as usual and only an occasional debris-cluttered .street . gave - evideaeo of any irregular ity. The s t r eet cleaners were ' among the employes laid off.- - - ' M Brooks said the usual day staff of jpolice remained at headquar ters d voluntarily for emergency calls and that In addition traf fic was directed . In the ' school cones ' , l The city council ; had to order some of lUi governmental -functions suspended last -week after the supreme court ruled all muni cipalities must ; pay- their . debts before they may expend funds for f current needs. . -' A general view of the gigantic parade that marked New York's faith in the New Deal and the NRA as 250,000 marchers and over a million onlookers demon strated' their support of the Blue Eagle. At left, G rover Whalen, New York's NRA administrator, who led the greatest civilian army ever mobilized; center, a stiff job for the cops keeping eager crowds back, and right, a casualty borne from the scene, a victim of the. enthusiasm that marked the occasion. The parade took 10 hours to pass NRA Chief Gen. Johnson. school board, left this weekend for Chicago and other eastern points, on a trip which wilt take two months. He plans to be home by Thanksgiving time. His first visit was at Pendleton, where he was Joined by Wilson McNary, son of Dr. McNary of the state hos pital there. Young McNary will accompany Mr. Burg hard t on the remainder of his trip. Blue River Camp Retention Asked By Forest Chief Retention of the Blue River CCC camp in Lane county has been recommended to Director Fechnerat Washington, D. C, by C. J. Buck, federal regional for ester with headquarters in Port land. Word of the recommenda tion was received at the office of Congressman James W. Mott yes terday and is said to indicate the result of a good deal of activity on the part of Mott and a num ber of Oregon residents who re sented the rumored removal of the corps to California forest regions. Eugene residents, in particular, have taken up the cudgel in be half of the camps in Oregon, Which reports said might be closed for the minter and their occupants transferred to California climes. FLuiEiCES PROVIDEDBY BILL Measure Being Drawn Gives Governor Right to Name New Legislators Multnomah county had accepted a position of special deputy in the s t t e corporation department. Gordon served for several terms as representative in the legisla ture from Multnomah county. Burghardt Goes , On ChicagoTrip William Burghardt, 'Salem, in surance agent aad clerk-of the Reception Held For Pastor of Friends Church A reception honoring the new pastor, Rev. T. Clio Brown, and his family, was'neld at the High land Friends church Friday night. About 80 members of the congre gation attended. A short program included mus ic, an address by Rev. Mrs. Ro ella Douglas, evangelist, talk by Mrs. Clara Cooley of the Free Methodist church, and remarks by heads of each church and Sunday school department. The pastor spoke in conclusion. Rev. Brown comes from Sher wood. He took up his work here September 1. A bill was being prepared in Salem yesterday which would au thorize Governor Meier to fill all vacancies in the state legislature, provided a special session is held in October for the purpose of matching federal funds for un employment relief and coping with other pressing governmental problems. The argument was advanced that the approval -of this bill would make it possible to fill the vacancies early in the legislative session without going to the ex pense of holding special elections in several counties. Officials said there were five vacancies in the legislative roster. , Two of the vacancies in the house of representatives affect Jackson county. These were caus ed by the appointment of Earl B. Day of Gold Hill as county judge of Jackson county and the depart ure of E. C. Kelly of Medford for Washington where he has obtain ed a federal appointment. Edwin Allen, representative from Wash ington county, has been appointed acting postmaster at Forest Grove. Other vacancies resulted from the retirement of Senator Linn E. Jones ot Clackamas county, who has accepted the office of secre tary of the state board ot phar macy, and tne recent announce ment that Herbert Gordon of Home Owner Loan To be Discussed Operations of the Home Own ers' Loan corporation will be fully discussed here this noon when H. E. Walters of Portland, ad dresses the Klwanis club. The meeting will be held in the main dining room of the Marlon hotel and non-club members are invited to hear Walters as his subject is of much Interest, both to mort gagors ahd to mortgagees. Wal ters will discuss his views on eventual value of the corpora tion's bonds. ATTEND SALEM SCHOOLS KING WOOD. Sept 25. Dale Daldell, Willamette university stu dent, mans the yellow bus in which 10 students from this im mediate neighbSrhood are trans ported to the seats of learning at Salem high and Parrish junior. Mrs. Myrtle Beaver, instructor in mathematics at Parrish, has been retained for her .fifth year there. pROPR-BIUp ' Shoes will prevent this . . PROPR-BILT Shoes for v children are scientifically -v. "r. built to give the Arch and ; "Ankles just the support Ibey A . need, yet they leave plenty of ' - room for free movement aad proper growth. ..--:; Correct Foot Ills NOW If your child's ankles and arches are already weak, : - Propr-Bilt ' Shoes will train -them t correct growth.' -If .- they are normal, Propr-Bilt Shoes will keep them straight and strong. -'Your Doctor wiO recommend - ,. Propr-B3t Shoes : and our trained sales people . will aid you in selecting the . correct style and sue.- . New $4.95 The Best Values in Town JUNE SPEER LADIES' Ready-to-Wear 175 North High St. Near Grand Theater PROMO I Will HUTU IS POPULAR r ' " - - ' .... . . " .... Chart, ' Movies and ; Slides Taken by Dr. Hill are Widely Recognized ; A program of education in child health which Is unusually" aound, as evidenced by adoption by edu cational Institutions and dentists of rank,' has been created by- Dr. David B.; Hill of Salem; .; . .';-v;: Tho. foundation Let- Dr.-.Hill's Idea la child oral health is com- pactly expressed In a simple pic torial . chart, Practical Tooth Brushing and Habit Forming Chart' which ' pictures steps In proper brushing of the teeth and advises diet and ether health habits. Copies and lantern slide ot It have been adopted by many schools and are being used by. the University of Iowa and a number ot cities including New York and Portland, ; ' , .:v ' ; .--:; 'j, He has also ' treated the whole matter of child health in his' film. The Life a Healthy Child." which he planned and photograph ed; and In which ". his daughter Charlotte is the star. He estimates thejllm has. already been viewed by Jlf.000 school schildren. The film is in the library ot the Ameri can Dental association and ' has been purchased by Dr.C L." Drain ot the University ot : Iowa, the New York state board ot. health, California state dental association hand other groups. ... . -. , : .. I To get children : to do a ; com plete and proper, job of caring for their teeth. Is the .full purpose ot Dr. Hill's work, which takes Into account, child psychology and cre ates a "play," means .of creating in them proper habits of oral .- hy giene. v r-, . ; The doctor, devised an attrac tive toy-like dental rack and tim er with an hour glass "which oper ates exactly two minutes. - The child is Instructed to brush . hi teeth according to the chart until all the sand runs down In the timer, making the act ot brushing? a game which becomes a habit, He has also .designed a .tooth; brush especially- adapted to the-child's month -. and : an antlacld milk ot magnesia" dental; cream which ia not harmful when swallowed. The; articles are sold in an attractiwe ' box; This is the first time such' a combination, especially for chil dren has been placed on the mar-. ket. J V--j - - The artleies"are being featured -by department stores in Portland and this week are In hands ot re tailers In Oregon and Southern , Washington. Blamaaer-Frank aad McKesson-Robbins companies are distributors. r . ' , YoU Can Now Bank With me First National Bank of Portland Right In Ydur Own Community T'HE SALEM BRANCH of The First Na I tional Bank of Portland opened Monday in the former quarters of the First National Bank of Salem. The SALEM BRANCH is part of The First National Bank of Portland . 4 ; under the same management ... backed by the $.55,000,000 resources of the parent bank. We invite you to do business with us at our Salem office. It is our purpose to make the SALEM BRANCH office in every way a part of your community ... to bring you an adequate, hedpful and dependable banking service. We have faith in the future development and growth of Salem and are confident that this district has a sound background for continued growth. The First National Bank of Portland has been active in the development of Oregon since 1 865 and takes pride in the opportunity now afforded to expand its service to Oregon's capital city. OPEN YOUR CHECKING AND SAVINGS ACCOUNTS HERE NOW! - ::::.:: -x :: :: :- S::.-.:-, J. E. ROMAN, Manager DAVID S. ADOLPH, Asst. Mgr. SAIL THE IFIKST OF PORTLAND msm NATIWAIL AW EC "Oldest National Bank West of the Rockies k ' " " i , ' , - ' i fete r !v-:..' -4 mi t-i "--AiifemP -vj , pylv Tfc, w M . - v '" . ' . ' 0 jN. V i ' ' -, .1. "'.PIW'1' ,11111,111 i ii 1imii, Illllll f , . - X y'- . "X r" ' ' I' : jr- ' .'..1 : i .,.v ... ..... . S y ,t 1 l. . . . -. : . ix . x ("CNa. n I ........ ''"in" fSr'-'i- iV'WTsar : Why do wc say 'Always Luckies Hcasc"? Wclljoiic reason is tiiat every Lucky is made of choice, ripe tobaccos the Cream of the Crojv Another reason Luckies arc always round; firm," fully packed--with no loose ends to sputter and spark. Careful examination and inspection by over 60 precision instruments and 17 alert scientists guarantee unfailing uniform- -ity. That's why Luckies draw so.easily, burn so evenly always mild and smooth. . And that's why "waysLocIucsHease! . . . x.-: .:.:.v.; T A lis xoasxea : ; rbk BETTER TASTE-FOR'TnBOAT ROTECTIOIf , r ' 1 . " i - i . s 1.