PAGE 6
HALSEY E N T E R P R IS E
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GLOBE
9
ALBANY
SUNDAY - M ONDAY-TL'ESD.v V
Oet s, 6, 7
-
; ZANE GRAY’S J
3
all-color i botoplay
: The Wanderer
I
OCT. I, l«M
n
Propaganda From
¡Propaganda From Republican Headquarter!
Democratic Headquarters
_
-
Suspensions Since January,
1924, Zxceed Number in
Three Years of Wilson
Administration.
>r»ss In JSTyT 1J?< Showing that of
i the bank failures recorded, 342 were
! n the States weet of tha Mississippi
I îlv a r They included 247 Stats and 75
istlonal banka—the latter number ba
ng greater than the total of all na
tonal banks falling throughout tha en-
Ire country In the seven years of the
Wilson administrations from 1914 to
1920, Inclusive.
This appalling record of distress In
-he Western States shows a total of 66
■allures In South Dakota alone during
he first six months of 1924; 48 In
Sorth Dakota; 40 In Montana. Of all
he States west of the Mississippi, only
Vevada was not In the casualty Hat.
4nd as this Is written, reports are
•till coining In. one press dispatch
•elating the closing of six banks In
Wyoming within two days
Business men who were promised
8ush times with a Republican victory
n 1920 have had an awakening equally
tad. for bad as Is the record of bank
allures, it Is no more disastrous than
hat of commercial (allures.
w w
■ ■ ■ ■ ■ » ■ •» S S S I S g l l s I «
TORRANCE
Í
Reconditioning Shop
P arts fo r AH Cars
:
Willard Batteries
J 212 East First st., Albany
Washington. D C.— Bank (allures in
w
I
the first six months o( 1914 ware nearly
Rhone 379
three times as numerous as the bank
•
• (allures during the entire last three
— 9— — 9 — —
•
featuring
v years of the second Wilson admin
• Jack
K ath ryn S Istratlon, it Is revealed by statistics
HALSEY RAILROAD TIME
• H o lt
W illiam s | rscently compiled by the R. G. Dun
‘ North
goo,!,
Mercantile Agency. The liabilities In-
“ Made e n tire ly in natural colora
*>.
«2,
3:02
a.
m.
No.
17,
12:15 p. m.
I volvad In the bank (allures between
Republican Party Has Saved
I January 1 and August 31, thia year,
IS, 11:37 a. m.
33, 7;40 p. m.
C o w in g soon
-H, 4:25 p. m.
31, 11:20 p. m.
Farmers Cannot Hope For Any
The Hummlndbird { were more than sight times greater
Big Sums to American
Jo, 14, due Halsey at 5:02 p. m., stops
than those Incident to all the (allures
o let off passengers from south of
Relief If LaFollette
during tha thirty-six months of 1918
Taxpayers.
Eugene.
20, both Inclusive.
. Nos. 31 and 32 stop only if flagged.
Is Elected.
The story of commercial failures in
Jos. 31, 32, 33 and 34 ran between Port-
Portland, Or. — (Special.) — When
the first eight months of the present
a«d and Engene ouly.
President Coolidge said In hla epeech
- -
’asseugers (or south of Roseburg should
year (January to August, Inclusive) Is
of acceptance that finances of the
9 r ~ (Spe?,aH — Farmers
ake No. 17 to Eugene and there transfer
even
more
dismal.
The
total
of
these
country
have
been
managed
by
the
!
P
,
NoJ
'thweet
wh°
expect
La
(Continued from
o No. 15.
(allures In these eight months was 13,
Republican
w ith
a Follette 8 Plan of government owner
Republican administration
administration with
a
lialsey-Hrowntvilie stage meets trains
burning of u half-bil'ion tons of 920 and tha liabilities 3396,427,178 The
genius unmatched since the days of ship of railroads to give them lower ‘h, 17, 34, 14 and 33 in order named.
number
of
these
(allures
In
three-
coal—which is three-fourths of
Hamilton, he meant just what he said freight rales are doomed to bitter die
fourths of a year was more than half
and gave facta and figures to prove IL appointment, in the event he should
the amount mined in this coun as
great as the number reported In the
SUNDAY MAIL HOURS
1. L. Patterson, chairman of the Re be elected and be in a position to
try annually for al! purposes.
three years from 1918 to 1920— during
publican State Central committee, de make his plans effective. It was de
The
delivery window of the
W ithout the building of a tha second Wilson administration. The
clared In a statement given out here. dared at the Republican State Cen Halsey poetoffiee ie open Sundays
tral committee headquarters here by
When It came Into office, he eald
single dam, the w ater now liabilities in the same sight months
from 10:40 to 10:60 a. m. and 12:15
Chairman I. L. Patterson.
»ere within two-flfths as much aa
pouring down mountain sides those (or the three years of tha Wilson J. R. Mitchell, form er Presi the Republican party Inherited a leg
lo
12:30 p. m.
The
(act
Is,
Senator
Patterson
said,
acy of debt that stood at about 324
represents sufficient power to administration cited.
Sunday mail goes out only on
dent Trust Company Which 000,000,000, of which »7,000,000,000 the railroad unions are trying to hood
tu rn nearly every wheel of in
Story Of Olsaeter
waa in short term obligations to meet wink the farmers in the Northwest the north-bound 11:37 train:
Failed, Gets Important
dustry, light and heat every
The figures from the records of R
which no provision had been made. states into belief that lower freight
Mail goes south once a day. closing at
American home, operate every G Dun's agency show the following
Federal Post.
Government bonds were far below par rates will come along with govern 11:05 a. iu. ; north twice, closing 11:25
and war taxes still plagued the people. inent ownership. It was said the con 1. m. and 5:30 p. in. M ail stage for
locomotive and drive ocean lin with regard to bank failures:
More than »11,000,000,000 were due trary would, in all probability, be the drownsville. Crawfordsville and Sweet
Wilson Administration
ers.
Washington, D. C,— John R. M it
case.
Home leaves daily at 6:45 a. m.
the
United States from foreign coun
Bank
chell,
of
St.
Paul,
recently
appointed
J u s t w hat can be expected
“The LaFollette platform says never
tries. The whole people were suffer
Failures
Liabilities
by
Prealdent
Coolidge
to
be
Federal
from this group of international 1918
a word about lower freight rates for
.................
20
» 5.121,887 Reserve Agent and chairman of the Ing from a tremendous deflation. farmers or anyone else, despite the
financiers, m eeting a t London, 1919
................
50
16,620,862 board of directora of the Ninth Dis Money was scarce and Interest rates fact they are highly desirable,” said
is best illustrated by what has 1920
An unprecedented financial
................. 110
60,708,300 tric t Federal Reserve Bank, Minne high.
the state chairman. " If LaFollette or
transpired in l-ecent years. Mer
apolis, Is remembered by many hun problem was presented to the Incom his close advisers believed for a min
ger a fter m erger has been
Total 3 years... 189
3 72,161,049 I dreds of farmers in the Northwest ing administration. The sums to be ute government ownership would
quietly effected until a t this
! as president of the Capital Trust dealt with were so huge that never
before In world history were debts of bring about lower freight rates on
tim e the control exercised by
Harding Administration
and Savings Bank, which failed on
farm products, the promise would un
such proportions to be paid.
Bank
the General Electric company
May 4 last.
The administration promptly pro questionably have been dangled as
Failures Liabilities
includes:
The failure of this bank caused
vided a budget system and put it into bait In the platform.
173,027,776 heavy losses to Its depositors and operation. This was the keystone in
If one w ill "look Into the railroad
Seven
hundred and fifty 1921 ....................... 404
> » « ........................ 377
77,736,661 stockholders. A t the time Its doors the arch of Republican finances that question a little he w ill find that the
lighting companies.
1923 ....................... s«)
194,790.000 were ordered dosed It had deposits of w as to bridge the chasm of debt. Tre chief obstacle In the way of lower
One
hundred and tw enty 1924 (1st 6 mo».). 428
163,228,720 »6,000,000. It« capital waa »800,000. mendous savings were effected by It. freight rates, which our farms need
street railways cnrporations.
The collapse of the Capital Trust con
For the fiscal year ending June 30, very much, Is the high scale of pay
One hundred and thirty-five
Total 8% years. 1.669
1600,782,047 cern started “ rune" on other banka 1921, the expenditures of the govern that has been forced by the railroad
gas corporations.
unions.
In 8t. Paul and for a time threatened ment were »5,688.000,000 and the sur
Interlocks with tw enty-four
"W e farmers have very little iu
Commercial Failures
the stability of the Capital National plus was 388,000,000. Contrasted with
other corporations th a t operate
(•stan d W ilton Administration)
Bank, of which also M itchell was that was the year ending June 30, common with the railroad unions
more than fifty public service
Liabilities president.
1924, when expenditures were »3,497,- when It comes to working together
Our Interests are not the same. What
« » 1 8 ...................... 9,982
corporations.
• 161.019.979
The Capital Trust A Saving, Bank 000,000 and the surplus exceeded »600,-
we want from the railroads la lower
113.291.237 had operated for many years with a ooo.eoo. This was a cut In the annual
Minor subsidaries th a t oper «»«» ..................... 6,461
freight rates. The unions are press
«»-■O ..................... 8,881
395,121,805 la r g e portion of Its funds Invested in cost of government of »2,041,000.000.
ate twelve railroads.
The public debt has been cut to Ing constantly for higher wages, which
first mortgages on agricultural lands.
On the Ixmrd of directors of
precludes lower rates
Total 2 years.26,314
»571,433,021 Because o( the heavy decline In the about »21,250,000,000, a reduction ia
th e General Electric company
"The railroad unions are the ones
The following are Dun's figures on value of these lands, following the three years of about »2,760,000,000,
a re:
co nmercial failures during three years ruinous decrease in the prices of which means a savlpg in Interest each who are getting the money from high
H urrah for LaFollette and beer I
er freight rates. The. average wages
Dwight W. Morrow and E. R. of the Wilson administration and three agricultural products during the year of about »120,004,000.
per
hour
of
railroad
employes
Is
now
The short-tiffie obligations amount
S.ettioius, who are Io furn part an 1 a half years of the Hardlng- Harding-Coolidge administration, it
ing to »7,000,00(1.000 have beeg either 123 per cent higher than it was In
ners
of Morgan, Grenfell & Coolldge administration:
was Impossible for the bank to make
refunded or paid. Together with all 1916 before any rates were advanced.
(Hardlng-Coelldgs Administration)
collections of either principal or In
Company of London.
this. Internal revenue taxes have been Here we see the chief reason why
«921 ..................... 19,«62
The land controlled by the un-
3627.401,888 terest from many of Its borrowers.
rates cannot go down.
Steward Prosser, who is also I ’ M ...................... 12,676
reduced
twice and many of them re
dereigned is closed to hnnting.
631.894.251
“Total
earnings
of
the
railroads
In
President
Mitchell
himself
attrib
a director of Anthony Gibbs & 19M ......................18,720
pealed.
During the present fiscal
Stay off and avoid trouble.
680 631,000 uted the bank's failure to this ex
year, there will be a saving of taxes 1923 were »2,666.000,000 more than in
Company of New York, con 1*24 (1st 6 mot ) . 13.920
91,967,219 tensive holding of "frosen" assets.
1916. Wages paid the same year, ex 3. A. Andrew«
G E. Munkers
to
the
people
of
about
»0.000.000
every
trolled by Anthony Gibbs &
clusive of to officials, amounted to J, P. Hunter
K- C. W illia m
Opposed Present Reserve System
day,
compared
with
1921.
Sons of London who in turn Total 2% years. 78,968 32.178.247,212
son
Mitchell's appointment by Presi
Of the amount ot debts dus this »1.544,224,000 more than In 1916. Out J. L. Hayes
Condition Worse In Weet
control Chilean N itrates Pro
dent Coolidge Is by many regarded country from foreign governments, 40 of every »1 In increased earnings C. E. Holland
E. Rues
That panicky condition« have been
ducers association.
as a reward for his effort« to organ per cent have been liquidated and from more traffic and higher rates, C, C. Purdy
K. D. Turner
Edward C. Grenfell of Lon particularly bad in the farm and stock ise farmers (or the Republican ticket. will provide funds tor the retirement the lines paid 68 cents out in higher P. R. Sullivan
John Sleutel
wages.
raising
State«
of
the
West.
for
which
don, a diiector of the Bank of the Republican leader« promised a In 1913, when the bill to create the of about »13,000,000.000 of the prin
W N, Damon
V, L . Davis
"Increase in freight charges on
Federal Reserve- System was pend cipal ot our national debt In <2 years.
England, is a p artner of Mor
G.
F. Isom
H. L . ■ Straley
farm products that moved to market
Panacea for all tils in the emergency ing, the Wilson administration (ought
During
the
Republican
four
years
gan, Grenfell & Company.
E. E. Gourley
between 1916 and 192» amounted to Kerl R. Stewart
:sr,ff act, subsequently replaced by the tor the plan to establish twelve now ending, the government has taken
In tu rn the General Electric Fo dney-McCutober law, one or the
Earl Chase
W R. McAllis
notable step toward economy of ad about »330,000.000. Of that amount,
company controls the (a) Elec »11 er of which has been In effect since regional banks instead of a central a ministration,
the railroads at once handed over to Harry Park
ter
ns shown in another way.
bank. Big financial Interests In New
tric Bond & Share company, the spring of 1981, 1. Indicated by York urged the central bank and re In 1921, the last' pre-budget year, of thotr employes »191.400,000. or more G. J Powell
G. W Starr
which corporation, through in r r saury figirr»« mtMlehatf Is the lentlessly opposed the regional system the cost of government collected la than half. The railroads were able to S. E. Cole
Clark Smith
terlocking directors, is repre
national, state and municipal taxes, retain none of these higher rates for J. P Weber
Cal Wooley
Thsy
were
accused
of
attempting
to
l„ ,,
_
.
-----------
- ------ Ut a tte m p tin g to
debt payments, federal expendi the companies, for net operating In E. S. Marsien
sented upon the boards of (b)
J. R Moe
in th e Congressional
Record 1 Ihov one
bank
in New Tork because after
tures
were 59 per cent of the total come has never been so high since Ed Farrier
IO
n/tttlA
—__
Union Carbide company, (c) ol
W. M. Sawyer
1916 as In that year.
March 12, Congressman they could more easily control one and those
ot the states, cities and
J. O. Mu ken
Fred McHargue
Union Carbide & Carbon com r ims J. G a rre tt has inserted a than twelve.
"Higher
costs
of
operation
cut
down
towns 41 per cent.
John M artin
J. H. Farrell
Mltehell was active In the fight
pany, (d) Memphis Power & diagiam which traces the ac
But in 1923 the federal government the net, with Increased expenses In
Mrs. Clara Swearingen
for
the
central
bank
and
against
the
Light company, (e) Alabama tivities of th e Union Carbide
took only 28 per cent ot the taxes and all lines and more taxes. Wages and
Power company, (f) Tennessee company.
Associated Power regional bank, notwithstanding that 72 per cent were spent by the states, taxes take two-thlrds of the railway
Electric Power company, and so companies. E. II. Hooker. W. the bankers ol Minnesota had In cities and towns. These bodies were | Income.
"Another reason why rates cannot
dorsed the regional plan.
He was
forth.
VV. A tterbury and J. G. W hite In Washington frequently during the showing increasing expenditures, al come down Is that the 26 months of
though
the
federal
government
has
The Alabama Power company step by step to the basic control
government operation Increased ex
autumn of 1913 when the opposition set an example of economy.
is controlled by Alabama Trac ol the Bank of England and to
the bill was Wrongest. A month
Per capita expenses of the govern penses of the railroads from »8.106.621
tion Light & Power company. Sperling & Company, bankers after President Harding took office ment In the fiscal year of 1910 were a day to »14,310,449. or »8,203,928 a
Limited, of Montreal, of which of London.
Mitchell was appointed a member of but »7.74. In the peak year of 1919, <J«y.
' In the first five months of 1924,
Sir Edw ard Mackay Edgar, of
These facts and conditions the Federal Reserve Board (or a term when public expense touched Its high operating
J- W S T E P H E N S O N .
expenses averaged 312.650,-
London,
is
chairman
of
the
o
f
ten
years.
He
resigned
on
May
13
est
level,
this
figure
had
grown
to
---------
— ......—
may explain the logrolling a t
-----------
000
a
day,
or
31.760,000
a
day
less
.
«»23. ; Recently
board of directors and also a W ashington ,to prevent unadul- .V”
Recen,ly he
h®
promoting the astonishlag figure ot »173.64. For
than at the end of government control.
DELBERT STARR
director of Sperling & Company, terated American control of
r
bin at a time last year, they sank back to »33.44. _ 80 a cause of the higher rates we
very gratifying improvement over the
the Ixmdon bankers, and a di- Muscle Shoals. A studv o f th e ’
PrM ldent Coolidge waa re
suffer Is the fact there Is still left fu n e ra l D irector and L i
post-war year.
almost »4,500,000 a day of the Increase
rector of the Mississippie Riv- connections of all the opponents i
a’ ^ ppo‘ln8 “ •
W ithout the budget, the savings
censed Em balm er
M.. u T r comPan> \ of which of the American offer will ' ,
' • ^ ^ • u T U T ^ , nuch ot that were effected would never have In operating expenses that occurred
Motor Heart«.
( Efficient Service.
Hugh L. Cooper, of the Amen- quickly show foreign entangle- i ,h* uhor" o,‘ in live etock which oc been realised. It brought order where under government control.
“When
the
farmers
understand
the
Ladv
Attendant
can Uyanamid company is vice- m ents of a W ry significant or- 2 "? on ,he bl*1‘*r
«• due to a confusion had been before. It pro
vided (or the balancing of revenues reason (or high freight ratos and real Brownsville.................................... Oregon
president.
tier.
deflci«nt d k t
and expenditures and lighted the way txe that railroad labor takes more
than half ot rate increases (or Itself,
out of the financial swamps.
they cannot make common cause with
the rail unions and expeot to get any
w . L. W R IG H T
Late blight of potato m may be thing In the way of lower rates Un
tartly In reaching, but It la 4 sick ia questionably. If the policy of govern
Mortician A Funeral Director
I finishing the crop.
Halsey and Harrisburg
meat control, under which expenses
Cali D. T a ylo r , Halsey, or
were vastly Increased, were restored,
The United States ueee 040,000,(XX) as LaFollette proposes, rates would
W, L. W r ig h t , Harrisburg
pounds of wool a year The per capita go higher.”
consumption te about six pounds
of the
Wasteland
•
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:
:
••••••••••••••••••••••••e
»
Power
•
I
I
Defunct Bank’s Head
Made Reserve Agent
&5S
Trespass Notiee
BARBER
SHOP
First-class Work
HALSEY GARAGE, A. E. FOO1E
F 'M
E ^ rt wokkmen
’ XPERT W ORKME
Efficient Equipment
U T O accessories
I ---------
LL
T O R e p a irin g p r o m p tly d on e
A
H A L S E Y . Orrcrnn
F. M. GRAY,
DRAYM AN
All work done promptly and reason
ably,
Phone No. 269
HALSEY
Cream and Produce Station
Cash paid for
Cream, Poultry, Eggg, Veal
& Hides, m . H- S H O O K
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