Tuesday, June 26, 1923 THE HEPPNER HERALD, HEPPNER, OREGON THE HEPPNER HERALD AN INDEPENDENT NEWSPAPER S. A. PATTISON, Entered at the F.ppner, Oregon, GENERAL BUSINESS CONDITIONS Si (National City Bank The bullish sentiment that in the business field early in April has been dampened considerably of late, and there is not as much talk about the danger of runaway markets. The conservative ele merit of the country viewed costs with distrust and was indisposed to stock up heavily at the higher level of prices. The cold weather also has been a factor, affecting retail trade in the textile and clothing lines. Department store sales were disappoint ing in April, but there is no reason to believe that it was for any other reason than the unfavorable weather. The season has been a good deal like that of 1920, when the cancellations that inaugurated the slum) of that year be gan. A few cancellations have occurred, and symptoms of uneasiness have been manifested in some quarters over the slackening of orders and price reactions, but the gen eral situation is very unlike what it was in 1920. Hie btate of activity has not lasted long enough to load the country up with goods; buying has been from hand to mouth so long that dealers have little to go on. This is true not only of finished goods but of raw materials. The price advances that have taken place since the bottom of the depression was touched have in large part represent-1 ed a natural recovery, and although some signs of exces sive stimulation were visible in the cary spring buying,' there has been no such protracted movement as that which preceded the slump of 1920. Moreover, in general, the situation is not such as to produce or render possible a serious reaction. Credits are so little expanded that no pressure has been exerted for the curtailment of business on that account. The price advances which have occa sioned some concern have scarcely reached consumers, and no actual loss of buying has taken place The watrc advances in the steel and textile industries, the. sk-ns of a competitive building trades, and numerous indications of higher prices, evidently have impressed the country unfavora bly. Conservative opinion does not have confidence in a prolonged period of prosperity on a higher price basis. A slow spring trade has helped to make merchants cau tious, and with prices receding, buyers have withheld or- ilu-c fie ttipv :i!u':iv rlri ' ' - - . the feeling in conservative is more satisfactory because of this check. The pace in J March was too fast to be maintained. Confidence had . lecovcred to such an extent that merchants were in a mood to order freely to replenish stocks, and a degree of congestion and labor shortage developed which was a menace to stable business. It is very desirable to have a full state of employment, and' production to the capacity of the industries, but wage advances that cannot be main tained and that only unsettle industry are harmful instead of beneficial. The energetic revival of business in the spring showed that the country had been restraining itself. It had been in a state of timidity, uncertain about the price situation and as to extent of the influence of European conditions in this country. The outburst of activity demonstrated that there is a very great amount of construction work under contemplation, which will go ahead upon the level of last year's costs. Some of it will go ahead even at an advance, but the advances have disturbed confidence, and the postponement of many projects is announced. Post ponements, however, are unavoidable when there is not labor enough for all, and their chief significance is in showing that a great amount of work is waiting to be done. Wage advances under the circumstances simply il lustrate the workings of the supply and demand, the con tractors who are willing to pay the most getting the la bor. It is not the demands of unions so much as the bid ding ol coiupeiM i e contractors that is making the high rates, and the situation shows the fallacy of the theory that the law of supply and demaniul has nothing to do with wages. The fact that it is the final and most potent factor in fixing wages, as it is of all prices for a wage is a price. Wages will be naturally adjusted at the point where the demnd for and supply of labor will he in eqi lihrium. There is no sound objection to that, provided they are as readily adjusted downward when necessary to keep up lull activity in building operations. The season has been backward in all parts of the coun try, but the grain crops have not been seriously affected by this fact. Spring wheat has been doing well, cool and jinoist weather being favorable to its its early stages. The government report for May on winter wheat showed an abandonment of 14.3 per cent of the acreage, which con firms previous reports of bad conditions in the arid ter ritory from Western Nebraska to Texas. Notwithstand ing this reduction in area, the government forecast, as suming an average yield, gives a crop only S.ooo.ooo bush els lower than last year. HOG CHOLERA LESS r A hog which remains in good health from the day he is farrowed until he is loaded on a market-bound train is usuallv a satisfaction to the farmer, the packer, and the consumer. Hut there are many diseases and parasites which beset him during the few months allotted for his cconomis performance. If this performance is to be a creditable one, says the I'nited States Department of Agriculture, the hog grower must keep close watch over his herd and learn to know something of the symptoms Editor and Publisher Poatotfice as second-claa Batter Statement for June.) was more or less rampant the rapid rise of industrial situation over labor in the1 .... . . . I circles is that the situation BUT WATCH HERDS which indicate the possible ease. Hog cholera is the great enemy 01 me swmC try, although it has been diminishing in importance as a result of wide-spread use of antihog-cholera serum. It has been reduced by about 60 per cent from the losses during the most disastrous years, but with greater care and bet ter understanding of the plague it coukl be reduced to a much greater extent. With the gradually increasing control of this disease, it is important that swine growers give attention to the many other ailments which cause losses, some of which are frequently confused with cholera. Among the dis eases with symptoms confused with those of cholera are anthrax, epilepsy, gastroeteritis, necrobacillosis, pleurisy, pneumonia, poisoning, swine plague, tuberculosis worms. Where there is any deviation from the normal m gait, appetite or digestion, it is time for the owner to take measures to prevent possible losses. Minor ailments otten can be successfully treated by the owner, but in cae ot doubt it is the part of wisdom to call a veterinarian. PACKER TEIXS FARMERS TO FEED MORE VII EAT Chicago, June 19. Turn or.e fourth o the wheat crop to fatten ing the livestock on farms and the farmers' annual loss will be turned to a profit commensurate with the work of producing the necessities of life, P. Edson White, president of Armour & Co., declared tonight be fore the banquet of the national wheat conference, called by govern ors and representatives of various phases of the wheatgrowing and marketing industry. Mr. White spoke on the problem of eliminating from the country the annual surplus of wheat, which long has been the bane of tho farmer's life, he said. The carry-over was in tlie neighborhood of 170,000,000 bushels this year and we are now within a month of the new harvest. "Feed more wheat" might not be a bad slogan for tho farmers of many localities, he suggested. Charles H. Markham, president of the Illinois Central railroad, spoke on the traffic problems of the wheat industry. He advocated moro scien tific marketing. Senator Capper of Kansas livened up the opening session of the two-day national wheat conference today when he made an attack on the Chicago board ot trade. "For years every wreat grower in the United states has been regu- larly victimized and our great mill ing industry upset by tho 'bear raids,' by 'May Squeezes,' by vicious short-selling on a large scale at the hands of the big manipulators who virtually have been In control of the Chicago board of trade, and have used It unscrupulously to accomplish their ends," declared Senator Cap per. "The Chicago board of trade has become the world's greatest gamb. ling place and has fixed the price for thu benefit of the speculator and against the producer and consumer. Federal regulations to prohibit mark et manipulation as provided in the Capper-Tincher law, recently sustain ed by the supreme court, undoubted ly was necessary. This law does not In any way restrict the market ex cept to eliminate the vicious gamb ling practiced and the violent fluc tuations in prices brought about by the gambling evil. "Tho drop of 40 cents a bushel in the famous '.May squeeze' a year ago was accomplished by this gambling and market manipulating element. A half dozen grain gamblers 'cleaned up' something like $ 2.0 0" .0 n 0 in 21 hours, which was more than all the farmers of Kansas made out of their entire crop in 1922. This will not be possible with the Capper-Tincher law in operation." Jumping to the platform imme diately after Senator Capper had finished his address, John It. Mauff, executive vice-president of the Chi cago board of trade, attempted to defend, his organiiation. After be ing recognUed by Representative An derson, permanent chairman of the conference, Mr. Mauff said: "I desire, In tho name of that honorable body of men. members of the Chicago board of trade, compris ing bankers, transportation mana. gers. men of high standing, in Can ada and In Europe, and in nearly every city of the United States, to enter an absolute denial of the alle gations so loosely thrown out at this conference by the last speaker." Afterwards Mr. Mauff said: "This matter will be brought to the atten tion of our atterney, and when our president, J. J. Stream, returns to the city a meeting of the members of our board of directors will be called to decide upon whether the public utterances made by Senator Capper at the national wheat conference, be fore au audience of 600 delegates and others, ij actionable whether we can bring suit for damages on ac count of defamation of character of 159S members of the Chicago board ot trade." approach of dangerous dis TEXAS MAX WITH OIL EXPERIENCE GIVES ADVICE The following words of wisdom re garding the oil well game are from the pen of an old time Texas newspa perman who, besides conducting a column on the editorial page of the Dallas (Texas) Morning News every day has, evidently, once upon a time taken a flyer in oil. Read what he says: One oil well does not make a Cifsus. The University lands are of great expense, therefore a petrol eum producer at one spot does not necessarily enrich all the other spots. Bui it will be a grand and glorious feeling if wo could believo that the University's needs are henceforth to be met outside the legislature and tim political klonciliums. Speaking from the standpoint of a stockholder in the Lizzie Fluke Oil & Fetroleum Co., formerly of Burkburnett, State Tress warns against undue optimism in thu bosoms of the University's friends. Oil wells and entire oil fields have a way of disappointing even the most modest expectants. State Press wanted only a million dollars from his oil investment. He made up his mind coolly, unhurried ly and in tho most conservative of moods to be satisfied with a single million and to let others have all that was left. He wasn't wild, he wasn't crazy, wasn't infatuated he wanted only a million. "Let others rave," he said; "let the others play HI Ekiii(ii',iMutiMfflTnimiT Big Ike all they want to, but for my self, one million dollars ($1,000,000) is all I want." The pathetic fact is that he didn't get anything, but he does look back on his moderation with self-gratulation. So, he would out of the cavern of his own exper ience urge those who love the Uni versity of Texas not to count her Reagan county riches until they have coadjulated in her treasury. Listen, friends, to a person who has trodden the live coals of tragedy with his bare feet. RITCHIE'S MARKET ROBBED While the shop was closed during the noon hour last Monday entrance thereto was had by cutting out the screen from the rear door and be tween $10 and $12 taken from the h registert It was evidently the work of boys. There are a number of half-grown boys in lone whose only occupation seems to be to tramp the streets and, pry into everything from early morning until late at night with hands deep in pockets, when they are not eating candy, ice cream, etc. Parents wjll do well to check up on them. lone Independ ent. R. E. Gremba, who has been with the First National Bank here for several years, recently being promot ed to the position of assistant cash ier, has resigned his position to ac cept a pesition at Los Angeles. Mr. Gremba left a few days ago for Spokane to visit relatives for a short time before going south. Economy the Spirit of the Times DID YOU EVER STOP TO THINK WHAT YOU PAY FOR FANCY CONTAINERS? COFFEE IS A GOOD ILLUSTRATION OF THE FACT. YOU PAY FROM 7c to 8c PER POUND FOR THE LITHOGRAPHED CANS WE CARRY A LINE OF BULK COFFEES AT 33k 35c - 40c PER POUND ; ' Phelps Grocery Company GRADING HONEY IS FIRST STEP IN GOOD MARKETING Secretary Oregdn Beekeepers Asso ciation Write Bulletin on Care Bees and Product Grade your honey and price it ac cording to grade in attractive con tainers. This is the first point In success ful marketing as outlined by H. A. Scullen, secretary of the Oregon Bee keepers association and bee specialist at the state agricultural college, in a new experiment station bulletin. Other points are the following Use an attractive label giving in struction how to liquify when gran ulated. Give net weight on each container and section. This is required by state law. Develop p, local market. When selling through retail stores allow a reasonable profit for the re tailer and do not cut his retail price. Advertise in every way possible. A large percentage of customers never buy honey simply because they never think: of it. Display your honey at local, coun ty, and state fairs. Hand out sam ples, recipe books, etc. Write for the market reports on money sent out by the bureau of markets, Washington, D. C. They are free for the asking. Study the market reports in the Bee Journal. Remember that honey will keep, and it is often advisable to hold the crop over a few months until the market is stronger. FAT HOGS WANTED At Central Market. We pay highest prices for good stuff. G. B. Swaggart. 8.10 NOTICE TO CREDITORS Notice is hereby given that the undersigned has been duly appointed by the County Court of the State of Oregon for Morrow County, admin istratrix of the estate of Charles B. Wright, deceased, and all persons having claims against the estate of said deceased, are hereby required to present same, with the proper vouchers, to said administratrix at Lexington, Oregon.within six months from the date hereof. Dated this 22nd day of May, 1923. EMMA C. BRESHEARS, 4-8 Administratrix.