Heppner herald. (Heppner, Or.) 1914-1924, June 26, 1923, Page PAGE TWO, Image 2

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    Tuesday, June 26, 1923
Entered at the F.ppner, Oregon,
(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.
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
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.
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
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
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
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.
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
33k 35c - 40c
Phelps Grocery
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.
Market. We pay highest prices for
good stuff. G. B. Swaggart. 8.10
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.
4-8 Administratrix.