Independence enterprise. (Independence, Or.) 1908-1969, January 17, 1913, Image 2

Independence enterprise., January 17, 1913, Page PAGE TWO, Image 2

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Newspaper Page TextPAGE TWO THE INDEPENDENCE ENTERPRISE, INDEPENDENCE, OREGON. EIGHT PAGES NEWS NOTES OF CURRENT WEEK Resume of World's Important Events Told in Brief. The railway merger begins its disso ution by electing new directors for the Southern Pacific. Wilson says he will form his cabi net from the progressive element of the Democratic party. President Taft has abandoned his plan for a world peace tour and will take up his duties as profsesor of law at Yale. The Treasury department plans a re organization of the customs service, under which many employes will be dispensed with. The rivers and harbors bill intro duced in congress provides for a mil lion dollars for improvements at the mouth of the Columbia river. Florence. Or., having been cut off from water communication by storms, 'the people are tretting supplies of ba con and other commodities from Port land by parcels post. At the first general election held in the town of Clatsop, Oregon, in ten years, blank paper was used for bal lots, the names of candidates being written by the voters. Under a new law every cmiu born in the Kingdom of Great Britain here after to parents insured under the na tional insurance act will bring the parents a bounty of 30 shillings, or about 17.50. Farmers near Seattle, Wash., have made arrangements with the Women's Federation of that city to supply fresh eggs and other produce direct to the consumers in the city, cutting out all middlemen. Robert W. Archbald, Federal Dis trict Judge of Pennsylvania and a judge of the Commerce court of the United States, was adjudged guilty of "high crimes and misdemeanors," ex pelled from office and forever disqual ified from holding positions of public honor or trust. The Indian appropriation bill carry ing $8,000,000 has been passed by the . house. Roosevelt rejects a proposal to try to bring the Republican and Progres sive factions together. Survivors of the steamer Rosecrans say 33 men perished when the vessel was lost on Peacock spit Robbers using a motorcycle held up an expressman on the outskirts of Portland, making their escape easily. Governor Marshall of Indiana, op poses free school books. Suffragettes announce their inten tion of marching from New York to Washington to present their demands to congress. The accounts of the sheriff of Mult nomath county, Or., balanced to a cent when the books were turned over to his successor. RESUME WAR WITHIN WEEK Balkan Allies Will No Longer Tol erate Delays of Turks. London Unless unforeseen events should change the current of ulTttirs, war in the Near East will be resumed within a week. The allies, convinced that the Turks merely are drifting, without a fixed policy, have determined to end the seemingly fruitless debates and wire pulling by resuming military opera tions where they were left off more than a month ago. .The Balkan kingdoms, moreover, are anxious to obtain relief from the heavy burden of maintaining armies on a war footing indefinitely. Wish ing, however, to observe all diplo' matic courtesies, they have given the powers a reasonable time to agree on the note regarding Adrianople, frame it and present it to Turkey. If Tur key, as seems probable, fails to yield to the note, the Balkan kingdoms have agreed that they will call another sit ting of the conference through Sir Ed ward Grey or Rechad Pasha, who, ac cording to the rotation followed, would be the next presiding officer, and announce definitely their decision to break off negotiations. Immediately afterward the Servian, Bulgarian and Montenegrin command ers will notify Turkish headquarters that hostilities will be resumed within 96 hours. The allies have no faith in the effi ciency of the note the powers will present to Constantinople. The Otto man government has failed to convene the grand council, and apparently has no intention of meeting the allies' ul timatum on Adrianople. The' allies feel that the note of the powers is couched in too mild terms to be effec tive, and that Turkey will know that it means nothing, because the powers tl be unable to agree on coercive measures. FINANCES NEAR DANGER POINT BANK MAKES 18,550 PER CENT Control in Bad Hands Would Mean Ruin to Country. Financier Admits Money Is Much Concentrated and Thinks Mat ter Has'Gone Far Enough. Two desperadoes in an automobile threw a brick through a Chicago jew elry store window, seized gems worth $800 and escaped. PORTLAND MARKETS WOMAN INTRODUCES FIRST BILL IN LEGISLATURE Olympia, Wash. The first bill ever Introduced in a Washington legis lature by a woman was house bill No, 1, introduced by Mrs. N. Jolin Croake, of lacoma, providing a minimum wage scale for girls and women in Washington. Mrs. Croake had her measure all prepared and the instant it was in or der to introduce bills she presented hers, which received the first place in a shower of 17 bills of all descriptions and from all parts of the state. Mrs. Croake s bill provides a minimum wage for women and girls in any line at SI. 25 a day, or 16 cents an hour where engaged in piecework. FISHER FAVORS RECEPTION Wheat Track prices: Club, 82 83c; bluestem, 8688c; forty-fold, 83c; red Russian, 80c ; valley, 83c. Barley Feed, $2324 per ton ; brewing, nominal; rolled, $25.50 26.50. Corn Whole, $27; cracked, $28 ton. Hay Timothy, choice, $1617 per ton; mixed, Eastern Oregon timothy, $12(15; oat and vetch, $12; alfalfa, $11.50; clover, $10; straw, $67. Millstuffs Bran, $22 ton"; shorts, $24; middlings, $30. Oats No. 1 white, $2627. Fresh Fruits Apples, 50c(3S1.50 per box; pears, $1.502. Potatoes Jobbing prices : Bur- banks, 5060c per hundred; sweets, 3J3Jc. H Onions Oregon, $1 per sack. Vegetables Artichokes, $1.50 per dozen; cabbage, lc per pound; cauli flower, $3 per crate; celery, $5.50 per crate; cucumbers, 75c(ft$2 per dozen; eggplant, 10c pound; head lettuce, $2.50 per crate; peppers, 10c pound; radishes, 35c per dozen; sprouts, 10c; tomatoes, $22. 25 per box ; gar lic, 5Uj6c pound ; turnips, 75c sack; carrots, 75c; beets, 75c; parsnips, 75c. Eggs Fresh locals, candled, 3031c per dozen. Butter Oregon creamery butter, cubes, 37ic per pound; prints, 38 1 39c. Poultry Hens, 1314c; broilers, I314c; turkeys, live, 20c; dressed, choice, 25c; ducks, 1415c; geese, 1213c. Pork Fancy, 1010ic per pound. Veal Fancy, 14J15c per pound. Hops 1912 crop, prime and choice, 1820c per pound; 1913 contracts, 15 16c. Wool Eastern Oregon, 1418c per pound; valley, 21J22Jc; mohair, choice, 32c. Cattle Choice steers, $7(ai7.85; good, $6.507; medium, $6(a;6. 50; choice cows, $6(a;7; good, $5.50(5)6; medium, $4.50(f5.25; choice calves, $7.509; good heavy calves, $67; bulls, $3(75.50 ; stags, $5(5:6. Hogs Light, $7.507.70; heavy, $67. ; Sheep Yearling wethers, $4.25 6.85; ewes, $44.85; lambs, $57. Secretary Would Have Affair in Ro tunda Displace Inaugural Ball. Washington, D. - C. President-elect Wilson's inauguration, according to Secretary of the Interior Fisher, should be celebrated by a "pcpular re ception in the rotunda of the capitol, with no charge for admission," rather than by an inaugural ball in the pen sion building. Mr. Fisher expressed his views in a letter to Senator Sutherland and Representative Shep- pard, chairmen, respectively, of the senate and house committees on public buildings and grounds. Mr. Fisher suggested that congress take charge of the inauguration celebration and make the necessary appropriations therefor. An appropriation of $100,000 would involve far less loss to the taxpayer, he said, "than is incurred directly and indirectly in the existing practice. To meet the expenses of inaugural balls a charge of $5 has been made for tickets, with an additional charge for the subsequent concerts, supper, seats in the grandstand and so on. Presi dent Taft's inaugural ball made mon ey. A guarantee fund of $86,720 was raised, and the receipts were $95,823, Borah Bill Is Favored. Washington, D. C. The senate ir rigation committee has ordered a fa vorable report on Senator Borah's bill authorizing an additional loan of $30, 000,000 to the reclamation fund from the Federal treasury, conditioned upon securing the consent of Senator New lands, of Nevada. Senator Borah no tified the committee that in the next congress he will advocate a change in the reclamation law to provide that settlers shall be relieved of repaying to the government. the cost of building the irrigation projects. Freight Rates Increased. Washington, D. C. Cancellation of a through route on class and- commod ity freight, including lumber and fruit, from points west of Huntington, Or., by way of the Oregon-Washington Railroad & Navigation company to destinations in the East was suspended by the Interstate Commerce commis sion until April 30. The effect would be to increase the transcontinental rates or to force shippers to send their freight by a more circuitous route. Misquoting May Be Made Illegal. Columbia, S. C. Enactment of a law making it a misdemeanor for a newspaper reporter to misquote a pub lic speaker was urged by Governor Blease in his message to the South Carolina legislature. The governor recommended the passage of a 2-cent railway fare bill. Washington, U. U lhat the pres ent concentration of money and credit "has gone far enough," that "in bad bands it would have a bad effect upon the nation, that the safety of the situation lies in the per sonnel of the men in control and that present conditions are "not entirely comfortable for the country" were a few of the statements made by George F. Baker, master of finance, as the climax of two days examination before the house money trust committee. Mr. Baker declared that "bad hands could not retain control." These statements, coming at the end of a day of routine examination, dur ing which Mr. Baker reviewed in de tail the operations of himself, his bank, the First National Bank of New York and J. P. Morgan & Co., in the issuance of bonds, Btartled the com mittee and Mr. Baker a counsel. Samuel Untermyer, counsel for the committee, was wading through a mass of heavy statistics relating to bond issues handled by Mr. Baker a associates. Suddenly he paused. leaned forward in his chair and shot question at the 73-year-old financier. "Mr. Baker, X suppose you do not think there is a money trust?" de manded the lawyer. Committee, spectators and counsel sat forward in their chairs. The wit ness leaned back in his chair, smiled quietly and replied: "I do not think there is." "What do you understand by a mon ey trust?" Mr. Untermyer continued. "I give it up; I don't know," said Mr. Baker, with a chuckle. "Suppose we define a money trust as an established identity or commun ity of interests between a few leaders of finance which has been created and is held together through stock hold ings, interlocking directorates and other forms of domination over banks, trust companies, railroads, public serv ice and industial corporations and which has resulted in vast and grow ing concentration and control of money and credit in the hands of a compara tively few men. Taking that denni tion, is there any doubt of the fact that of late years there has been a vast and growing concentration of credit in the hands of a few men?" "Well, there is a great amount of money that has come together here, more or less concentrated," replied Mr. Baker after a pause: "There have been great mergers of financial institutions, have there not? asked Untermyer. "Yes, sir." "I suppose you would see no harm, said Mr. Untermyer, "in having the control in credits as represented by the control of banks and trust com panies, further concentrated? Do you think that would be dangerous? Mr. Baker pondered the question for a time, and then answered. "I think it has gone about far enough." The Baker lawyers, sitting near by, sat up in their chairs and looked in terested. Plow Concern Expands. Moline 111. I he Moline Plow com pany has announced tnat it nas asked for an increase in its capital stock from $9,000,000 to $30,000,000 and for an extension of its charter for 99 years. At the same time a long-pending deal for the purchase of the Adriance, Piatt & Co. plant at Poughkeepsie, N. Y., was clcfeed. The New York firm has been known as an "independent" manufacturer of farming machinery of various types. The Moline concern now possesses seven auxiliary plants. New York Financier TclW Commit tee Strange Things. Washington, D. C. Profits of more than $90,000,000 have been made by the r irst National bank of New York l. ity since its organization with a cap ital of $500,000 in 1863. according to the testimony of George F, Baker, chairman of the board of directors of the bunk, before the house money trust committee. Mr. Baker told the committee he bank had paid dividends of 226 per cent, or more than twice the total cap italization, which is now $10,000,000, in the four years since 1908. Samuel Untermyer, counsel for the committee, calculated from the sums supplied by Mr. Baker that since the latter assumed the presidency of the CAPTAIN WICKLUND Commander of Point Adarni Life-Savins Cnw, who drove their lifeboat through mountainous combers in the face of what seemed certain death and rescued two men from the rlmrinir of the oil steamer Koaecrans, wrecked on Columbia bar. institution in 1873 the bank has paid dividends of 18.650 per cent on its original capitalization. x Mr. Baker flatly opposed the sug gestion of Mr. Untermyer that Na tional banks be required to make pub lic their assets, declaring that he saw no possible good that could come of such a provision. That there is no impropriety in one man's holding directorships in one or more potentially competing banks, railroads or industrial corporations was another stand taken by Mr. Bak er. Mr. Untermyer reviewed a list of railroads in which Mr. Baker was a director, some of which the lawyer said were potentially competing lines. Mr. Baker declared that for these roads to have a common director was an advantage, "because differences be tween the companies thus can be read ily adjusted." Mr. Baker admitted that he and Mr. Morgan and Mr. Stillman consulted frequently about large financial oper ations and that he and Mr. Morgan were interested in many vast financial enterprises. He could not say how many. LIMIT PUT ON "MIDDLEMAN." The all absorbing: question at This time of the year IS -I Whatam I going to give Mv friends for Christmas? Wo havo provided an unusually largo as-Horttnont of i i m 1 1 1 00 I r mum mm which aro now on display all marked in plain figuroH, Vic- Government Officials Regard tory as Important One. Washington, D. C The govern ment's victory at New York recently against the so-called lumber trust is regarded by officials of the depart ment of justice as one of the most im portant accomplishments under the Sherman anti-trust law, because it limits in large measure the power and privileges of the much-discussed 'middleman in commerce. The de ... . . . cision is construed nere as meaning that the consumer of lumber, untram meled by the retailer, may purchase direct from the wholesaler or manu facturer, and the latter may sell direct to the public without interference of a combination of retailers. Uemembor that our "CASH STOKK PRICKS" w hich "credit stores" can't nuitcli, apply to Holiday gjods un woll tin to nil our regular lines. Dolls, Games and Picture Books for tho ch'hinm Dressing ses, manicure $ets, military Sets, Cuff and Collar Boxes and an endless variety of novelties suitable for gifts for older people. You'll contribute jut as much to the good cheer that prevails during the Holiday Hohhoii if you give your friends PRACTICAL l'K KSKNTS. Articles of everyday uso that they need. Dress Goods, Clothing, Shoes, Blankets, Comforts, Underwear. L antes' ga$b Store Salem, Oregon, lii! H State Control Opposed. Lincoln, Neb. Governor Aldrich, Nebraska's retiring executive, in his message to the legislature, declared that state ownership of water-power development was as impracticable as public ownership of the railroads. The governor declared that "regula tion which insures good service at just and equitable rates" is preferable to state ownership, and anything more than this would be contrary to public nolicv and result in preventing the de velopment of capital. Snow Falls in California. Los Angeles More snow fell in the mountain ranges of Southern Califor nia. Forecasts of a heavy frost in the morning caused citrus growers who had not suffered a total loss in the re cent cold wave to resume smudging to save the remainder of their crops. As the temperature was fairly high it was not believed any great damage would be done. A sleet storm was re ported from Phoenix, Arizona, caus ing much suffering to stock. Iladley to Get Four Votes.' Salt Lake City Utah's four elec toral votes for vice president will be cast for governor Hadley, of Missouri. This was the agreement reached by the electors. Mrs. Margaret Jane Wichter, one of the Republican elec tors, the daughter of a law partner of President Lincoln, probably will be chosen to carry the result of the vote to Washington. Estate Valued at $9,300,000. San Francisco Claus Spreckles, millionaire sugar refiner, left real property amounting to $5,700,000 and personal property in excess of $,3,b00,- 000, of which he devised half to his widow and half toC. Augustus Spreck els and Kudolph bpreckels, .younger sons: John D. and Adolph were cut out, the will declaring that' they had been in'a measure provided for prior to their father's death. A contest was immediately filed and three days after the widow died the court handed down a decision breaking the will. Banker and Wife Jailed. Chicago William T. Kirby, owner of the defunct Kirby Savings bank, and his wife, Mrs. Margaret L. Kirby, were ordered sent to jail on a con tempt charge by United States District Judge Landis until they turn over $30,000 said to be missing from the assets of the bank. The decision came at the end of a scathing denun ciation of the participants in what Judge Landis termed a "fraud and a frame-up par excellence in perjury." Motor Company Ordered to Sell. New York The receivers of the United States Motors company were ordered by Federal Judge Hough t'o accept the bid of $7,080,000 entered by representatives of the company's reorganization committee at the fore closure sale of the property. Human Ashes Sent By Mail. St. Louis Human ashes were mail ed by parcel post at the St. Louis post- office for Edwardville, 111., where they will be buried in the grave that was dug for Frederick Naumann. Nau- mann died Saturday at Edwardville. Buy Your Furniture and Carpets of BUREN & HAMILTON THE 8TOREE THAT SAVES YOU MONEY 9x12 Axminster Rugs $1850 And everything to furnish the home at correspondingly low prices. Guaranteed Quality. WE PAY THE FREIGHT BUREN&HAMILTON Complete House Furnishers SALEM, OREGON Did You Remember ALL OF YOUR FRIENDS CHRISTMAS TIME? THERE ARE NO MORE APPROPRIATE GIFTS NOW THAN PHOTOGRAPHS AND NONE THAT WILL BE MORE APPRECIATED. COME EARLY AND AVOID THE RUSH. The Davidson Studio MONMOUTH, OREGON. Bring Your Job Work to the ENTERPRISE OFFICE.