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About The Eugene guard. (Eugene, Or.) 1924-1930 | View Entire Issue (Dec. 2, 1924)
Tuesday Evening, p. Pago Two THE EUGENE GUARD FRAUDARTIST IS WILLI TO PLEAD GUILT! Leo Eoretx Admits He Was Wrong, and Wants To Be Punished Declares He Will Enter His Plea of Guilty When Arraigned . CHICAGO, Dec. 2. Leo Koreti, promoter of frke oil schemes, in which relatives and friends invested $2,000, 000, brought back yesterday from Halifax, N. S.. to face bis victims, wants "to get it oer with as soon ns possible." "I have done wrong. I want to be punished. I am going to plead guilty and take my punishment," be was quoted as saying after be bad made what state's attorneys said waa a clean breast of his operations, ex tending over 18 years. Four Indictments, three charging defalcations nf $4,000 each and the fourth ?:i8.000, through the operation of a confidence game, have been re turned against Koretz. Each carries a penalty of from one to 14 years in prison. E (Continued from pagj one) . naval construction of major units. We are 'concerned primarily with main taining adequate preparedness. ' We should have adequate preparedness in 1026 within the limits of tho amount recommended. Defensa Problem Industrial "Aside from the Important factor qf training personnel our national de fence is largely an industrial problem. Today the outstanding weakness in the industrial situation ns it affects national defense Is the inadequacy of facilities to supply air service needs.. The airplnna industry in this country at tho present timo is dependent al most entirely upon government busi ness. . To strengthen this Industry Is to strengthen our national defense, i For the nir.sorvlco of tho army and nnv.v and the, nir mail service the es timates, including contract nttthorlr.n tlnns amount to $S8,04ii,000. This cniitcmulateH an expenditure with the Industries of $10,287,000 for the pro curement of air planes, engines and accessories. The roinalnlng 920,008, 000 is for maintenance, operation, ex perimentation and research. . The amount of $38,l)4u',000, however, does not Include' all that will be available for this service in 102tt. Amounts contributing to tho air scrvlco carried in other 'estimates and usable war supplies will make a total availability conservatively estimated at $65,000. "The amount requested for national defense includes $50,118,000 for the nrniy nnd navy reserves,' nationnl guard, citizens military training cnmpB and other civilian training activities. Navy Construction Provided "Thcro is also included in tho no tional defenso estimates $7,441,000 for increoso of the navy. Thla will provide for continuing work on tho fleet submarines under construction and for beginning work on two of the four remaining fleet submarines au thorised in tho 1016 prngrnin. With regard to tho navy estimates, legis lation is now pending which provides for additional vessels, including gun boats for use on the Yangtze- river. Further estimates for increase in the navy are dependent upon the enact ment of this legislation. It will also be necessary to request of congress legislation increasing the authorised cost of tho two airplane carriers now under construction. If this be grant ell, it will require funds for the next fiscal year not provided In tho esti mates contained in this budget. "It la estimated that $0,1141,500 will he needed to complete dam No. 2 at Muscle Shoals, lit this amount, $.'1,501,200 will bo required this year. This will bo covered by a supple mental estimate for 1025. The bill nnce, $.1,040,300 1b provided for In these estimates. , "There is included In these esti mates $50,000,000 to be set aside in the adjusted aervico certificate fund established under tho world war ad Justed compensation act of May 10, 1024. This is for the second payment to tha fund to be mado January 1, 1026. For the first payment, due January 1, 1021, $100,000,000 la in cluded in tho deficiency bill now un der consideration by congress. The applications from veteraua so far have been below the estimated num ber which the roenrds Indicate as en- iiuru in ma ueoeiits oi mo an. "If the two appropriations recom mended are made, It is estimated there will be a sufficient amount in the fund on January 1, 1020, to meet tho demands of the act. Hhould the .. number of applications Increase bo youd what present experience Indicate as probable, there will be ample lime to submit a supplemental estimate for the additional amount necessary be fore tbat date. I Federal Aid j "For federal aid to states, the es- J tlmatea provide in excess of $l(ltl. 000.000. These subsidies are pre-' scribed by law. I am convlmgd that the broadening in this field of activity la detrimental both to the federal and atatt governments. K.'ficiency of federal operations Is impaired as their scope la unduly enlarged. Efficiency ! of stats governments ia Impaired aa i they relinquish and turn over to the federal governments responsibilities ; which are rightfully theirs. 1 am op-1 posed to any expansion of subsidies, j My conviction is they ran be curtailed ! with benefit to both tha federal and states governments. "For reclsmatlon purposes I am re commended 10,777,207 for 1026. It la highly desirable that the congress, as a basis for this and future reclama tion expenditures, enact the legisla tion embodying new reclamation pol icies proposed in II. It. (Hill, aixty cigtb congress, firtit session. Public Debt Reduced "The gross public debt was reduced $l,O0K,4,375 during the fiscal year ended .Tune :tn, and stood at $21,250,S12,0K0 on the latter date. This reduction was accomplished through (1) the application of the sinking fund and other public debt re quirements required to be made from ordinary receipts, aggregating $457, 000,750; (2) a reduction in tho gen eral fund balance of $1H5,527,030; and (!)) the use of the entire surplus of $505,360,080. The annual interest charges on the debt represented by this reduction arc equivalent to over $45,000,000. "The total reduction in the d?ht sine thf, high point of $20,504,000,000 on August 81. 1010, amounted to $5,34.3,000,000 at the close of the last fiscal year. This total reduction baa affected a saving in interest amount ing to approximately $225,000,000 an nually, a saving which equals nearly one third of tho total annual pro-war expenditure of the government. "The fixed-debt charges sre includ ed in the regular budget of the gov ernment under a definite plan worked out soon after 'the close of the war for the gradual retirement of the pub lic debt, and must be met before the budget can balance. Tho most import ant of these fixed debt charges is the cumulative sinking fund provided In the Victory Liberty lonn act. llctire ments through this fund during the past fiscal year were about $200,000,- 000. Seourltles Retirement The next items in sizo among the fixed debt charges nro tho retire ments of securities received from for eign governments under debt settle ments and tho purchasea and retlre- enta of securities from for gn re payments. These continuing reduc tions of the public debt have a very material effect in maintaining the high pricea for liberty bonds. They permit the Issuance of new government se curitlea for temporary and for re funding purposes at slow interest rates, with consequent further econ omy in government expenditures. In terest paid in the fiscal year 1024 amounted to $040,000,000.' It is esti mated that this item will be $805, 000,000 in 1025 and S&WsDO.OOO in 1020, This soving of $llu,ooo,uuo tn two vears is the result of the reduc tion In tha amount of the debt and decrease in the average rnto of inter est pold. Tho Binking fund is a part of tho contract between the United States and tho holder of tho United' States' obligation, and, therefore, can not in good faith be exchanged. The continual steady effect ot tncBe aem reducing factora is to cut don the largest single item of government ex penditure and permit further reduc tions in tho burden of taxation. "During the InBt session of con gress a bill was introduced authoriz ing a yearly appropriation of not ex ceeding $10,000,000 for a progres sive building program in tho District of Columbia. Thia bill bns my in dorsement. I earnestly recommend its enactment by congress. Agricultural Commission 'I hove recently appointed a com mission lO IDVCSllsmi! umnmiin.u. conditions. The purpoBes of this was to determine what action tnrongu leg islation or otherwise, should bo taken to ploco agriculture on a baBis of economic equality wwi itw .,.,. -tries. Tho findings and recommen dations of tbc. commission are for the use of the congress. I mention this commission hero for tho reason that I will shortly submit to tho congress an csliiuato of appropriation to meet the expenses of tho commission. "Wo nro now in tho fourth year of our campaign for reduction in the cost of government. Our aim ia. to reduce tho burden of taxes. In this wo have been successful. For theso thinss which wo are now required to do wo are fast reducing our expendi tures to a minimum consistent with efficient service. Wo have before us au estimated Biirplus qt $07,000,000 for tho current fiscal yenr ami $:173, 000,000 for tho next fiscal yenr. Hhall wo' cinburk upon new projects In volving expenditures which will pro veut tho accumulation of theso expect- NATION IS GIVEN (Continued from page one) tion in the interior department total was due to the smaller allotment for the pensioa bureau. That bureau's outlay waa cut from $224,010,000 for the current year, to $100,110,000 for next year, largely because of the de creasing pension roll resulting from the death of pensioners. The cut of $23,000,000 in the navy's total was scattered over many items of expenditure, but a large part of it was due to a reduction of the fund set aBide under the beading of "in crease of the navy." It is understood supplemental estimates for needed construction will go to congress later. The budget director's report to the president declared that under the tot al allowed the navy can continue at its present enlisted strength of 88, 000; the marine corps will have pro vision for 1.8,000 men instead of the present 10,500; tho naval reserve forccB will continue on practically the present basis; it will be possible to increase tho average steaming range of battleships from 10,400 miles to 23,700; two more of the submarines authorized in 1016 can bo laid down; new aircraft can be purchased; and it will bo possible to continuo work "at a normal rate of speed on nil new ships under construction within the limitation of authorized cost." War Allowance Cut There were scattered reductions to taling $8,600,000 in the war depart ment's allowance, but no particular branch of the' military service was singled out for reduced appropria tions. Under the total authorized, the budget bureau declared, the reg ular army can continue on ita pres ent basis of 12,000 officers and an average enlisted strength of 118,000; the number of reserve officers who can be trained will remain about .the same; attendance at the' citizens' training campa miiBt be limited to 20,000 instead of 33,000 in the cur rent year, and tjie militia bureau will be able to maintain an average strength of 173,000, a reduction of 3500, from tho present authorization. The air aervico allotment was increas ed from $14,000,000 for the current year to $17,000,000 during the coming ed surpluses, or shall we continue the campaign for economy? 1 am for economy. If we continue the cam paign for economy, wo will pavo the way for further reduction in taxes. This reduction can not be effected immediately. Before it is undertak en we should know more definitely by actuul operation what our reven ues will be under our present tax law. Hut the knowledge of our rev enue 'under tbc existing law will avail us nothing if wo embark upon any new lr.rge expenditure program." $25 FALSE tfie ftfl PER TEETH 10,UU PLATE Buys the best Rubber Plate with gold pin teeth. Any col or or kind of rubber you wish Painless Extraction of Teeth Guaranteed , When you think' ot teeth, . think of DR. S. T. DONOHUE Manager Peerless Dentists Cor. 7th and Willamette 8ta. Phone 441-J 1 II -srfrs i "GHOST BETWEEN" Is Comedy-Drama With Laughter, Tears And "Punch" Vincent Lawrence's much-dlscusscd Broadway Ml, "The Ghost Utitwocn," will h given hero by the Carlylo Flavors In the near future. "The Oliost Between" croated quite a furor in New York where it enjoyed a run of ninny months at tho 1 hirty-nlnth Street theatre a tew seasons ago. It Is a whole some love story and a comedy drama with a real punch. The piny Is full of Irreslstlhlo comedy, but there are tears as well as laughter. "The Clhost Between" gives a new and funny twist to an old nnd serious theme. 11 Is a swift-moving, clean, down-to-earth story which will get right under your skin because it Is human. HEILIG THEATRE Wednesday Evening. Dec. 3rd All seats reserved. Entire lower floor $1.00 ' Balcon 75c. Box office opens Tuesday at 10 a. m. year to "enable the air service to make reasonable progress toward cutting down its warrant shortage iu heavier than air craft and at the same time assist in keeping allvo the air craft industry for use in time of em ergency. Rivera, Harbors Sam. The total fixed for-rivers and har bors improvement $50,277,000 is practically the aaine as the present year. It was in the veterans' bureau es timate that tbe budget director made his biggest cut under tbe figures sub mitted a year ago. A net total of $70,000,000 was lopped off, in spite of increases in somo departmenta of tbe burcau'a activities. The factors which more than offset these increases in cluded a drop from $80,000,000 to $.'(8,000,000 for vocational rehabilita tion, due to the decreasing necessity for giving vocational training to men wounded in the war; a reduction from $127,800,000 set aside a year ago for possible use in bonus psyments, to $02,000,000 which the budget director estimated would be sufficient to carry tbe payments through next year if applications continue to come in at their present slow rate; and a $7,000, 000 reduction in the amount set aside for hospital construction.' The treas ury department'a reduction of $10, 810,000 under the total for tbe pres. cnt year wn8 largely accounted for by tbe fact that tax refunds amounting to $16,140,000, resulting from tho 25 per Tent reduction voted by congress at the last session, were included in the expenditures of the current year and no like item was necessary in the new budget. The coast guard allot ment was increased by $1,050,000, as a part of the drivo against rum run ners, while tho total givon. the cus toms service wsb cut $712,000 a re duction declared By the budget direct--or to be due to decreased activities and an estimated fulling- off in re- runds. ''...;.'. Shipping Board Out ' Included in tbe factors contribut ing to tbe shipping boaroVs reduction of $0,000,000 were enumerated im proved methods of operation, together with the consolidation, curtailment' and, reduction in the number of trade routes, and an improvement in freight rates. The budget bureau infomed tbe president in its report that the net increase of $62,000,000 in the amount set aside for the agriculture depart ment was "due primarily to an in crease from $13,000,000 to $80,000, 000 for .the construction of rural post roads." There wore various comparatively small increases in other activities of the department. More than half of the $2,288,000 in crease in the allowance for the jus tice department was accounted 'for by a decision to more than triple the amount set aside "for the investiga tion and prosecution of war frauds." The war frauds item in the budget for the present year amounted to but is $1,725,000. The amount act aside for enforcement of anti-trust laws was increased from $203,030 to $228, 000. A net increase of $23,000,000 also waa shown for the postoffice depart ment but tbe whole expenditure of that department ia expected to be re turned to the treasury along with a surplus as a result of postal revenues. In theory the postal service always is regarded in the budget as self supporting, although it has sot always been so in fact. Tbe budget bureau declared revenuea for the fiscal year 1026 had been conservatively eatimat cd at $647,410,000, while the amount to be advanced to the department for expenses is only $037,376,005. Should these expectations be borne out, a postal surplus of more than $10,000, 000 would be turned back into the treasury. TODAY (Contioued from page one) education, tank, money, thousands of acres, and Beat in tbe House of Lords, to make England better? lie lived and died ''master of fox hounds." Servants bred fclie hounds. Tenants "walked the puppies." Groom broke, bitted, exercised and cleaned the hunters. His grace put on his pink coat, road, and pretended to "bunt" his hounds, while the whips really munaged tbein. That is a md ern duke for you. And we have sonie imitations of them here. They won't last. Republican senutors have Voted "out of the republican party"' Sena tors LalTollette, Brookhart, Ladd and Frazier. They will not be admitted to regular conferences or named to' fill any committee vacancies that may oc cur. That is all good advertising for. the four ostracized. . The synagogue in Holland excom municated Spinoza, with most terrible malodictions, declaring that his name must never again be mentioned &y anybody. The big men of tho synagog ue are remerbered only because they signed that foolish, futile document. The four senators will be important in politics, when a majority of thoac that seek to ostracize them arc for gotten. Eld ridge, a British automobile racer has broken nil recordB in France by driving his car ten miles, at an aver age Bpeed of 121 miles an hour. When will railroads utilize the light ness, speed and economy of the gas engine, break up their long heavy sub urban trains now stopping everywhere and -send out passengers and trains in sections, those for the more distnni points starting first, and all on a non stop basis? ONE PERFORMANCE ONLY 8:15 P. M., Doors Open 7:45 The TONIGHT ONLY! Forest Taylor Players n offer their dramatic success The Other Man's Wik" A very capable company with an all star cast including . DAVE SWANSON " -Graduate Dramatics, U. of 0. REMEMBER TONIGHT ONLY t These prices by special arrangement ONE PRICE 50c ANY SEAT New Bank Directors Of Portland Named PORTLAND, Ore., Dec. 2. Three new directors ot Ladd and Tilton bank were elected here, following the res ignation a week ago of Isaac D. Hunt, Cameron Squires and ltaymond Wil cox. The new directora are Walter M. Cook, a vice-president of the bank; Frederick H. Strong, manager of the Ladd Estate company, and Prescott W. Cookingham the bank's attorney. The placea of Hunt and Squires as vice-presidents will remain unfilled until after tbe annual meeting the sec ond Thursday in January. President Confers 1 With Senate Group WASHINGTON, Dec. 2. Legisla tion was discussed informally by President Coolidge at a breakfast conference today with a group of re publican senators. Senators present included Capper, Kansas; Phipps, Colorado; Oddie, Nevada; Harre'.d. Oklahoma; McNary, Oregon, and Gooding, Idaho. EARTHQUAKES CONTINUE BATAVIA, Java, Dec. 2. Further earthquake shocks have occurred ot Wonosobo. Three persons were killed. remedies f... "V" ; usn or com J you can secure FOLEY'S Bnl and reliable remedy for tb, 'J coughs, colds, hoarseness Q 7" r roung and Anna Cornell, Bridgeton i; states: "I bouslit FOLEY'S Ml AND TAR COMPOUND fo, and find it great". Insist up,, genuine. Refuse ,ihiii,.. Paid AdrerfaJ DANCL Harrisburr M. W.' 1 h.n Friday night Good intuit Pii, vitea jj Gulbransen DemonstrationWeel TryCulbranwn pedalling. So effortless that baby pushing down the pedals gave the idea lor the Gulbransen Trademark. Four Gulbransen Instruction rolls fur Dished fertth every Gulbransen. These are occlusive with Gulbransen highly inter esting and simple to mister. They teach, in a Ifwevejungs'djTjeriebaaisdcorrectplaying. ' Nationally Advertised. The Gulbransen ia regular lyadvertised In The Saturday Eve ning Post.The American Magazine and The Literary Digest an addition, guaranty oi its high standing in the commercial world, W advtrttM the four tnodth c! ttv Cut brinm It tht lour tultoiMily rttabliahed oh Sric.. Tht CommumiT moM ia $4W. Th uburhsn modvl KU. Th Country SM tnodtl ( S61. Tb Whir Hou mod! It 1700. Generous ttrmt ma be mnd, intervtt boinf charted on dltnd pyorit. Naturally ib mor avrtnaiv mpdtta ai btlltt. But thf mol tntvrenaiv model made, the Community at t4S0,taap)tndid)y buili,depDdaV4s laMiumeat that w an proud to put in any ho an. II you 'tnt a frod dVtwndable Inetrutaeot tbat ym can play, mad by a reputable mini' (actum, and told at a Ulr prtce, coma in audi ki ua ahew you tbe CULBRANbtN. Ceaapare below you dtddat. , HAVE a surprise for you. We have an instrument olaved fev music roll and pedals, on which you can register Your Dersonal touch on the kevs. iust i l nr. i : .. . 1.1 ' ' as you would in hand-playing. We have an instrument on which you can accent the melody and subdue the accompaniment, Or you can use any ordinary song roll and play the accompaniment only, with out playing the melody notes af all! You can play any regular player roll in seven different keys! The instrument that will do these things is the Gulbransen Regis tering Piano, ol which we are making a special demonstration this week. Come in we want to show you this latest achievement in the music world the famous Gulbransen about which you have read in jhe Saturday Evening Post, The Literary Digest and the American Magazine. Don't hesitate come in today! buys a Gulbransen Upright Piw M I able by hand. Other models oiGulhrw Upright Pianos are $350 and $440. buys a Gulbran Rttn , abli by hand or pedak Oth oo .Gulbransen Registering Fund $615 and $700. This store features the "Easy so Play" Gulbransen Rigi toini Piano because we knee, our Gulbransen customen are the most sstU&ed cus tomen we have. Not only is tbe Calbrtsr sen mechanic aDy ssrMactory. but it's also s musical achievr ment and uwpuauon. When you become a Gut braraeo owner we will aanst you in every way to get the luUeai possibilities out el 'your Gulbrsnsan. Make us ol out tuning and service oVpanmsnts, Remember uSat your pres ent piano, if yon have one, ought to be tuned at least twice a year. Tbe Melody Indkstor is a patented and eaclusive Gul bransen icsnare. It shows at a (knee whether notes are in bus or treble, so you mill know where to accent them. Play era roll Eves the finest -elect tic reproducing player rolls may be played on your Culbransen. You are not restricted In your choice oi roils. Singers, note thla. In pliy ' Ing song rolb you can play any ordinary song roll ss aa ' accom pani ment eliminating the melody entirely. This is Eossible only on the Gul ransen Rtiittcring Piano. e wt.q buy. a Gulbmnsen plsyahl. by hsnd. br pedal" 3M Other mode), ol Gulbr.om R& Pl.no. $855 snd . All ol the above prK- j bruxled in the back ol the factory lor J l, have a libersl 4 whlchyou can 'fcM initial payment and veS'JA'. taMllmed Ak u. about thuilra"" wtnt to pay all ash. ' "MAIL THIS I I ... L.Mf I nd w vlll If 11 I can buy a GUtMsaea. Nraa Add, -rr-J Seth.Laraway Music Stores 968 Willamette Street Opposite RexTM
