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
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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