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fhe OREGON STATESMAN. Salem. . Oregon, Tuesday Morning, September 26, 1933
PAGE THREE
'
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it
nuiiEii MILLS
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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-.
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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!
-
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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
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''"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
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