ALBANY DAILY DEMOCRAT. TUESDAY, JANUARY 4, IBIS
PACK TWO
Daily Democrat
F. P. NUTTING
Lessee.
Entered t fhe poitoffice at Albany,
Utt)o., ir scegna-cias whct.
Published every evening except Sun
day. Semi-weekly published Tues
day and Friday.
HUSINESS MATTER
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In ordering changes of address, sub
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BstabUshed in 1865.
TUESDAY, JANUARY 4. 1916
FINANCIAL REVIEW.
By J. W. T. Maaon. Written for
the United Press.
New York, Jan. 4. At the close of
1915 the war has cost more than 26
billion dollars, exceeding by five mil
lion the total national debts of the
six principal belligerent powers when
the conflict began. With the excep
tion of about five million raised in the
United Kingdom by taxation, practic
ally all the expenses of the war have
been met by borrowed money. The
end of 1915 therefore, finds the fight
ing nations saddled with double the
debt they had accumulated in all the
centuries preceding the outbreak ol
the war.
In the early days of the war the
most liberal estimate of its cost, in
cluding the destruction of property
and economic losses caused by cas
ualties, was 50 million dollars per day.
The actual expense now, exclusive of
economic and property losses, is 8s
millions per day. Of this amount the
Quadruple Entente is paying two
thirds and the Teutonic Allies one
third. If the war, continues through
the winter the cost will probably rise
to a hundred million per day. The
interest for war loans which the war
has already imposed on Europe's fu
ture generations is about a billion, two
hundred million per year. Every week
the war lasts fixes an additional an
nual interest burden on the belliger
ents of 25 million.
Colossal taxation will have to be im
oosed on the soldiers when they ro-
turn home after peace is declared. The
belligerents will be bowed beneath
the burdens of the war debts.
During the year. Various British
statesmen uttered warnings concern
ing the financial outlook. . And the
possibility of bankruptcy overtaking
Europe has several times been men
tioned in the House of Lords. AU
the belligerent governments have be
come uneasy about the monetary out
look, but the system of running the
war on borrowed money has prevent
ed the people themselves from feeling
the financial pinch, except in Great
Britain. The British government
now- raising about 500 million per
year for war costs by direct taxation
but no other nation has as yet serious
ly increased its peace -taxes. The
British tax, large as it is, does no
more than meet the interest on the
government's war borrowings.
The war has compelled the rapid
expenditure of such unprecedented
sums of money that it's difficult to
believe the warring governments will
continue the strain for another year
unless one side or the other sees the
possibility of a complete victory. N
decisive success for anybody is now in
sight ,
France is leading the other nations
in taking preliminary steps to recover
from the financial blight of the war.
The northern area of France now in
the enemy's possession is one of Eu
rope's most important manufacturing
centers. The factories will have tc
be rebuilt and new machinery must be
installed, after peace is declared.
French commission is now in the
' United States studying American la
bor-saving : devices and American
methods of production.
, Prosperity is written in letters of
gold across -this country's financial
. record in 1915. Uncle Sam has almost
half a billion dollars more of foreign
gold than he had a year ago. Amer
ican merchants have sold more good6
abroad than ever before. The great
est external loan in history, the Anglo
French loan, was floated in 1915. - The
market value of American securities
appreciated something like two bil
lion dollars in the 12 months. Na
tional banks have bigger deposits and
larger reserves than at any time since
this country was founded. A wave of
' speculation swept the country and
permitted the New York Stock Ex
change to close 1915 with a boom as
explosively bright ss. the year's be
ginning was dull. Unsmirched by the
failure of a single member, the 1915
record of the New York Exchange is
crowded with stories of newly made
millionaires and sprinkled with 50-million-share
trading days, .
More than 160,000,000 shares of
stocks were traded in during the.year,
representing an aggregate value of
more than 14 billion dollars; and
nearly .900 millions worth of bonds.
In 1914, only 48,031,833 shares chang-
d hands, representing less than four
billion dollars; and the bond business
was only $40,438,600. The war caus
ed the stock exchange to close four
months in 1914, which partly explains
the comparatively small business.
From the dark, uncertain days of
early January, 1915, with minimum
prices and other war restrictions, bus
iness in the world s biggest stock mar
ket gradually developed until million
share trading days became almost
common.
The war babies and war bride stocks
of companies manufacturing war sup
lilies for the belligerent countries fur
nished more spectacular fireworks in
1915 than Wall Street had witnessed
since 1901, when J. J. Hill and E. H.
Harriman sent the market into con
vulsions by their fight to buy control
-A the Northern Pacific railroad in
he ooen market " Bethlehem Steel s
inriraled jump from 52 to $600 a
ihare, closely trailed by General Mo
or's advance from 086 to $540 and j.
5. Steel's rise of 31 points are a few
if the high spots in the year's boom
market
Fifteen stocks, including motor.
electric, steel and equipment and in-
Justrial securities, appreciated just
5570,665,628 in the year. The aggre
gate appreciation of all stocks and
bonds on the New York exchange is
iear $2,000,000,000. U. S. Steel in
creased a hundred and fifty-five mil-
ion in value and Bethlehem Steel
about $85,000,000. The steel corpor-
ition -Tsas more than five million
.hares of common stock issued while
Bethlehem has less than 150,000 shar
es outstanding. General motors com
mon increased $75,000,000 in value;
General electric, $36,534,000; Anacon
da Copper, $69,937,500; Studebaker,
$36390396; Willys-Overland, $32,800,.
300; American Can $14,960,000, and
Crucible steel, $14747,000.
What the war orders received by
these automobile and equipment com
paaies total never has been disclosed,
but they run high into the hundreds
if millions. A company whose stock
is selling on the New York curb mar
ket. Submarine Boat, received over
$125,000,000 of European war orders.
What the figures are for orders plac
ed with Bethlehem Steel, Westing-
house, Crucible Steel and the Steel
orporation can only be conjectured.
In proportion to its size and import
ance the New York curb had one of
its best years. War stocks in the out
tide market gave half a dozen curb
traders profit enough to purchase
eats on the Big Board the Ex
change. ' The price of a seat on the
Big Board has practically doubled in
the last year. Early in April the price
for a membership on the. Exchange
was $38,000. In December a seat sold
for $72,000.
One of the most important events
in the financial history of 1915 was
the great Anglo-French half-billion
dollar loan. In the middle of the year
a commission of English and French
financiers headed by Lord Reading,
Lord Chief Justice of England, came
to this country to raise war funds.
committee of prominent American
bankers was formed, dominated by J.
P. Morgan tt Co fiscal agents for
the allies in the United States, an
after many conferences the amount
and terms of the big war loan, were
fixed. It was for $500,000,000 with
interest at five per cent a year,
be sold to the public at. 98, which
jave almost' six per cent of a return
to the investor. After the details
were arranged, a syndicate of Amer
ican bankers was formed - which
agreed to hold its bonds from the pub
lic market for 60 days. On Dec. 15,
this syndicate expired and the bonds,
having been publicly listed on the
New York exchange, were publicly
traded in. They went as low as
94 1-8, but were bought as their low
price meant even a higher interest
than six per cent Less than $200,
000,000 of the half-billion loan was
put oh the open market bankers and
bond houses which were members of
the syndicate withdrawing over $300,
000,000 of the entire issue. .
Financiers who have watched the
remarkable course of events in the last
year, predict Mat ivio win see even
greater expansion in both the finan
cial and industrial life of this country.
READ OUR WANT ADS
The Albany Bakery
Wt Deliver to Any , Part of the
City v-r;-
115-119 E. 3tr) Street
lletl .1601 Partv R Home 419
H. FIRCHAU CO.
! MISFITS
One sub. thing after another.
These torpedoes keep one guesting
what'll be next
These threatened breaches come as
fast as rain in December.
Nineteen dry states and ten more
than 19 tq hear from.
One thing decidedly wet in Oregon
has been the snow.
A Cleveland man is named Fudge.
Ought to be popular with the Rirls.
Uncle Sam is a mighty busy man
these days dodging threatening situa
tions.
Another record broken in S. F.:
biggest storm for 27 years.
The average young man these days
is kept busy dodging temptation.
If yon have paid your last Christmas
bills it is time to begin saving for
next Xmas. ,
There is no end to some things in
this world, things going in a circle
like a lost man in the woods.
The outlook is for a lot of broken
China.
One thing California is sensitive
about is weather.
By the way a Califorman never
should kick at an Oregon criticism
after the manner they have rubbed it
into our weather for years. -
Providence, R. -I., may not mean
what the name signifies when it comes
to football. "
The West isn't afraid of anyone in
the world in a battle of f. b.
A fool there was and he took a
swim at Baker on Jan. 1.
One thing about our weather, it is
generally the tail end of something
fierce back East or South.
Pantomime Performances.
. altwt . imntumiiiie t-utinic-lers were
ururiualiy Imhtowfu mm tmv Italians.
The drat rem KdkIIkIi puututniiue was
prndix-ed til a llieuler lu l.niitiln's Inn
Field In 17-U It sn .-ailed -lliirle
quln Exwuted." anil Ita aulitltle whs
'A New iliiin t'umir Si-etic Between
a rVamiuoui-lie. n Hnrleqiitn. n Cuuu
try Farmer. Ilia Wire mid OtUi-rx "
The perfnrujiiure "itv erv mjrrwwfnl
AbM the middle or 1 lit- eighteenth
-enturr the character of iinutonilme
performnni-e was completely uttered,
chiefly becaiw ot rhe iienius f the
famoiia (jiimnldl. who mndp the clown
i he firm Spurt In the pantomime. Orl
raaldl firm npiK-nrwt ni Sadler Well
theater, where lie plnyed it mrt of
inunkey He wtia oi lively cni-'acert on
roe atas for forty-nine yearn
Odor of Iodoform. ..
It l okl Unit thp udur nt Iodoform
can tie rpniorcd from the hnud and
utensils hy uitixliml. While the mind
are wet trootMtcn tbem with colli wn
ten place a snuill quantity of dry uiu.
tard powder In I he mlm and rnli It
well over the hnud iind then wnh off
with amp and water For ntrnll the
mustard must be made like a nite
and allowed to remain spread on them
for several Dour .
The NMdless Needle.
"Now. ma." sum the young man wbo
was arrowing nu rndtiux moiliei the
wonderful Might of the city, 'would
yon like to go into rhe park and we
Cleopatra' Needle'" .
I didn't know that bnmty ever used
a needle. 8ne didn't spend much time
newlng. from the scanty wardrobe she
bad In all the picture or tier that I
ever saw Jodce
Systam All Right
"I used to tnlnk I would know Jusi
now to manage my wife when I got
tier"
"Has yonr system proved to be
fallnrer
"No; (be system I all rhthf, m far as
I know. Hbe ba never let me try tt'
-Stray Stories.
Four Counties Inn. .
In the four Cduntle Inn, In Eng
land, tt la possible to eul In Leicester
sblre, sleep in Sralrordsblre. drtuk In
Warwickshire and smoke In Derby
shire without leaving tbe building.
' Hurese end Muslo.
Tbe musical acutene of Dorses
bown by the rapidity with wblrb car
airy Dorse learn the HmtBcaace ot
trnmpei rails
friendship may and often does grow
Itim inve. but love never nlilde Ini"
tm-iiiiil ; ,
A $1.50 ticket for $1.25. Good foi
anything at New Elite. o25tf adv
Jewelry repairing of
Kramer's new store.
all kinds at
o25tfadv
Save by buying a ticket. $1.50 ticket
for $1.25. New Elite. o25tf-dv
Irak
red-and-white
label
Also look for the sign of
Ideal Grocery
for the best in ataplo and fancy
groceries.
Full line of fruits and vegetables
always on hand for your demands.
IDEAL GROCERY
H. A. Stearns, Prop,
; " Both Phones 58
TRY the ALBANY DAIRY
for sanitary milk and whipping
cream. We invite you to visit
and Inspect our dairy. Bell
phone 15-F-41. A. P. MISH
LER, Prop.
A. STARK.
Physician and Surgeon
Also treats eye, ear, nose and
throat, and fits glasses
Both phones 60
326 W. First St. Albany, Ore.
Learn Trap
Drumming
TURN IDLE EVENINGS into
profit. Good trap artists are in
demand. Lessons in drums,
bells. Xylophone.
LEO H. KREYER
, Hub Theatre.
Jones Book Store
Subscriptions received fur Mag
azines and periodicals. 333
West First St., Albany, Oregon.
VIERECK'S
BATHS
First-cl&aa Workmen
Only
Cor. First and ElUworth Stmts
41
From and after Jan. 1,
1916, this Bank will
par 4 per cent on Sav
ings Accounts. De
posits made before Jan.
6th trill bear interest
, from the first.
CAPITAL AND 8URPLUS
$$0,000.00
J. W. CUSICK CO., Bankers
Albany, Oregon
FISHER, BKADEN t CO.
FUNERAL DIRECTORS AND
UNDERTAKERS.
Undertakins; . Parlors, 3rd and
liroadalain.
f LADY ATTENDANT
Beth Phones
Cabinet Work
: Albany Planing Mill
Golden Rule Dairy
- MILK and CREAM
2 Daily Deliveries. Both phonos
H. M. PALMER, Prop.
Fortmiller Bros.
Funeral Directors
Masonic Buildinf, Albany, Or.
Both phones. Lady Assistant
HQ3
New Year' Resolutions
The following were given by a min
ister of Eugene! ,
"RESOLVED:
"Tlm't 1 will think less of my ene
mies and more of Christ.
That I will let my life he control
led by my loves, rather than by my
disgusts. : ., '' :
"That I will think less of my mis
fortunes and more of my blessings.
"That I will complain less and pray
more.
That I will make EVERY DAY n
fresh -beginning of all my good reso
lutions, the same at if tt were n New
Year's day."
To Our Many
Customers
and Friends
we extend our heartiest
wishes for a happy and
prosperous New
Year
ALBANY STATE
BANK -"Safety
Plus Service"
Leon E. RennellV
Garage
The Handy place to buy
Gasoline
212 E. First Street.
Phones, BaU 72-Rl Homo 1303
All Repair
Work 50c
Per Hour
DURING WINTER
A QUALITY STORE
We sail the best at lowost pricm
Watch Repauinf
F. G. Will
O. A. C.
HMIIIIIIHMIIMIIMIIIIIIIIIIIItmillllll
FARMERS AND HOME-MAKERS' WEEK
aod RURAL LIFE CONFERENCES
January 3 to 81 1916
Lire UforaaUton. Practical Help for Home
Ihc farm, Ih Couttttuufljr,
Convention of Oregon's) firrnlMt Tdu4ri
Conference on Oregon' Most Vital Problem
LUCTURHft DKMOMHTKATIONH-
KXIIlUITlONtt-KNTKHTAINMKNTt
Two thou sand people attended laM year. It La
great place to make frteiida wttn live
thinker and live thought, good
workers, and good woik.
. WINTER SHORT COURSE
January so to February 4, 1916
A rrnctlml Agtlculturtt Courw lu s Nut HhU.
Appiteu ncience in Actual wwr n
Uu Vtrm mi Hoiucbold.
Counts la VRtltT KAISINO, FARM CSOrS.
SOILS. STUCK KAISINO, DAIRY WOKK,
. ruUl.THY KAlHINti. HAKDK.NINO, COOK
INC HKWI.NC, IIOUHKIIOI.I) ART. HUMK
Nt'KSINU, BUKINK.Vi MKT HODS. KOAU
BI.-IUJlVO VAKM HNfllNKKKING, RUKAJ,
OKOA.MZAT1UNB, HMSKltnu.
Cofrt,pondrnc Conties without Tttltlo.
lvxptrt Initructloa In Music
. Mrducca railroad rales.
For profrain write to Tk Colltca Cwftinf a, Ortf M
Afrlu'iiiral Csllfft. Csnaliik H li I to f l)
Good Sunday
Chicken Dinner
at the
COTTAGE
25c
We make a specialty of
friendship,- engagement,
and wedding rings.
F. M. FRENCH & SON
Jewelers and
Engravers
Let us place ou,' (Initrr piece
mounting on you? eyeglasses.
Makes putting on nnd oft easy.
E. C. MEADE, Optometrist
P. B. Pttipps .
MAGNETIC HEALER
2185 Home Phone
734 Lyon St.
STETTER'S
FOR GROCERIES AND
CROCKERY
DIRECTORY CLASSIFIED wr
BUSINESS DIRECTORY
CHIROPRACTOR
ELMER C OIPE
. Chiropractor.
Rooms S, 7, 9, 10, CuskIc Bank Blag.
Mature cannot cure a disease unless
the cause is removed. Chiropractic
arljustmeuts remove the cause. '
GEO. J. KENAGY
Chiropractor
National Bank Blug. Rooms 401-402.
Office plibne U80 Home; residence
phone 4357.
DR. S, H. RUSSELL
Chiropractor
1-2-3 Sclimitl Ultlg. Phones Bell
1H6-R; Home 1461. Lady attendant.
Examinations free.
DENTISTS
DR. W. R. BILYEU Dentist, First
National Bank building, Albany.
LAWYERS,
C. C BRYANT
Attorney at Law
-111-.' Niv l-Vsl Nanoii.'il "ink build.
!!. Atltrnv, Or'Kon.
DAN JOHNSTON,
A'tornry at l.a
k ( ill' I-'iro National Bank Bldu
L. G. LEWELLING
Attorney at law Notary public
Allifiiiy. t Irfiton
WEATHER PORD A WEATHER
FORD. Lawyers. Albany, Ore.
OSTEOPATHIC PHY8ICIAN8.
A. P. HOWELLS D. O.
Both phones - Savings Bank Bltlg
MARY S. HOWELLS. D. O.
Both uhonrs Saviags Rank Itllg
REAL ESTATE tt INSURANCE
E. F. SOX
Real Estate, Loans. Fire Insurance.
First National Bank Building
H. F. MERRILL
Insurance and Loans
City warrants bought and sold. Room
No. I, second floor. First Ssvings
Bank buildiag, Albany. Oregon
B. M 'PAYNE Farm lands and city
property for sale. Real estate loans
Fir insurance. Surety Bonds,
Rooms 19-21, Cusiek Block, Albsny,
Oregon
FOR SALE
FOR SALE OR EXCHANGE A 10
million timber claim In Douglss
county for city property or good
farm land. Home II 41 . flitf
FOR SALE Light rosdstvr automo
bile. First class condition Recent-
' ly overhauled. Addreas "Roadster"
care Democrat. aStf
FOR SALE High graTe piano at s
bargain. Phone 361-R. mI8if
FOR SALE Fresh cows on easy
terms. H. Bryant. '
FOR RENT,
FOR RENT Small place of 13 acres,
close to Albany, ood house anil
burn. Good place for dairv. Call on
J. V. Pipe, 203 West 2nd St.
d24tf
FOR RENT First class store room,
First street. Call on Dr, A. Stark.
m22tf
THK BEST
BAKED GOODS
GROCERIES, PRODUCE
and FRUITS s
PARKER'S
"The Sin ol Quality"
136 Lyon St. . Both Phones
We are at your
service for
Meats and
Fish
I). E. NERERGALL
MEAT COMPANY
SECOND AND LYON STS.
Real Estate for Sale
Bargains In (arm lanaav city acasv
ertyi money to loan, Inaorsme
written in the strongest ela In
companlea. Call on J. V. Pipa,
203 W. 2nd St
DUGAN & DENNY
HOUSE FURN1SHER8
New and second hand goad
Have moved to 2nd and Bake
FOR RENT A four-roomed furnish
ed apartmcul, bmiuire of llurgi ral.
d:s tf
SHINE By Jim Wilson, at Yierock's.
dIBtf
WANTED
WANT POSITION By experienced
girl, to do housework. Good refer
ences. Call I9J-J Bell.
WANTED A FAIR TRIAL We will
show our skill ou all repair work
chairs,, vouches, woven wire bed
springs made ss new, stoves, mat
tresses, All work gusranteed. Call
Bell 72-J and save money. 317 E.
2nd. . . dljl
WANTS WORrC--sdy wants work
by day or liuur. Home pboue, 34oV.
o2Vtf
WANTED dor J room modern bun
galow, furnished msa and wife,
boy 4 yesrs old. Refweaoe Id re
quired. Call from 4 ta . E, i.
Plckard. 342 B. 2nd. -
WANTS WORK-Youag man 20
wants any kind of work city or
country. Call 103 Lyon St.
MJICBLLAWBOUS.
LOST Crescent, of pearls on streets
of Albany. Return to Democrat -(ice,
or phone 416-L.
FOR SALE CHEAP OR TRADE
Gasoline engine and grinding mill
' and 2 crop raspberry, E, Reiss,
Halsey, Oregon. d28tf
Daily Democrat by Carrier, 14 Year,
Real Estate
Loans & Insurance
Collins & Taylor
Hammc! Hotel BuUdlag
$3 -000 FOR
$2.50
Dry Mill Ends, the best
cookstovc wood on market
HAMMOND!
LUMBER CO.
1st snd Reslresd Phones 3(8
Oregon Junk Shop
Pays highest pries (or hides, pel"
and furs, rubber, metals aw sack
and rags.
3IS E. 2nd Street. Phoae 72-J
, Albany, Oregon v
Albany Transfer Co.
' BoJh phones
WOOD FOR BALE
Little Fir .;.,;;...,. .....,.. tsjf
Slab Wood .40