PAGE 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.