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About The gazette-times. (Heppner, Or.) 1912-1925 | View Entire Issue (Dec. 30, 1920)
:: six Tin: a.kttk-timks. hf.itxf.i;. okf.gox. Tiin;sn.Y. pkc. no. rvjo. L-A-M-D At a Big Reduction One year ago lard was selling at 40c. We are now selling pure lard at 2 ?c Id In 2, 3, 4, 5 and 10 pound lots. Everv Bucket Guaranteed Central Market McNAMER & SORENSON Blacksmithing In all its branches, including Wagon Work, Horseshoeing and Repair Work ALL WORK GUARANTEED We Give a 5 Percent Discount for Cash J. B. Calmus Formerly the Ashbaugh Shop mm ISP best Wishes May 1921 bring to you a full measure of Health, Happiness and Prosperity ROY V. WHITEIS All About Hundred Million Dollar Plan to Export More U. S. Farm Products Banker John M'llugh. Father of Mammoth Project Which lias Already Been Launched, Explains Why It Is Needed and How It Will Be Carried Out. American Investors Must Support Great Enterprise. I A New Year's Resolve i RESOLVE to put aside a part of your savings at regular intervals. Be fore the new year passes you will be glad you made such a resolution now. Small sums put aside regularly soon grow. And in growing your savings bring you a teei ing of independence and pros perity such as nothing else could. And here your savings are safe. And they will pay inter est. This is a real message to you START SAVING NOW. You will be glad you did. By JOHN M'HUGH Noted Klmtm-tnl KHrt and New rk tlnuktr. rttten for Thin Tnper Kl'lTUKS NVTK At Chleaso recent ly a i'.itnotu- meeting of lt'aiiins Amer ican hankers uas heUl to eolUvtivelv tinaiue a one huiuiieii million ilollar corporation which wonM exteiul credits to Kuropeun nations and thus help thorn to tuiy our broods, particularly products of the farm, which would be our greatest export. The plan adopted was that susceste.! by John MeHush. the noted New York banker, who was offered the presidency hut declined. The Autocaster Newspaper Service. In which this newspaper holds a fran chise, received the following exclusive signed article for us from Mr. McHufih. explaining the plan. It should be un derstood thnt foreigners have, durinp the last two years, ran up a debt of KOVR H1LLION DOLLARS for our ex ports which they are unable to pay. American banks are now carrying this awful load, making it impossible for them to extend any more credit at home. Something must be done. Ed itor The Gazette-Times. The violent fall in the prices of wheat and cotton have confronted farmers of this country with the gravest problem they have been ask ed to meet in many years. To a very large extent this decline has been brought about by a falling off in sales to the outside world, by disor ganization of the violent fluctuation:. in European exchange rates, and by the inability of the outside world, es pecially Europe, to pay immediately for the agricultural products, and in fact, for all the exportable products that America has to offer. The dependence of our wheat farms and cotton growers upon ex port trade may be judged from the fact that normally fully one-quarter of our wheat output is sent abroad and more than one-half of the cotton we grow. What the world demands from us may continue for several years to come to exceed what it is able to sell us in return. It is our duty then, and by that is meant not oniv our duty to the world, but our duty to ourselves, if we wish to maintain our own exports, to extend credit that will run for several years. It is out of the question for credit running :it so long a time to be carried by banks whose liabilities, that is, whose de- 1 ' ry , U v N N I ly. i K 1 x V7 posits, are mainly payable on de mand; the banks to keep themselves in undoubted solvency, cannot tie up their loans for more than a few months at a time. The duty of extending this credit rests upon the great body of Ameri can investors. In order to prevent any possibility of inflation, of which we have had enough, they should ex tend this credit out of their savings. The way for them to do this is to pur chase the long-term securities of our European and other foreign custom ers. These may be secured by the assets of private corporations or rail roads of municipalities or govern ments. Europe, especially, is pre pared to offer very attractive rates of interest in order to get this credit. One reason why American invest ors have not availed themselves of this opportunity is that they have not, like British investors, for instance, acquired the habit of foreign invest ment; but behind this is an even deeper reason, and that is that they feel themselves too uninformed on condition abroad to judge the risk they are taking. It is precisely to overcome these obstacles that lead mi; bankers and business men at a meeting in Chicago on Dec. 10 and 1 1, unanimously approved the forma tion of a Foreign Trade Financing corporation, to be organized under the provisions of the Edge Act, and to have a capital of $100,000,000. ?uch a corporation, active steps to organize which are now being taken, would send its investigators abroad, and its credit experts would devote themselves to examining the safety and security of even' loan made. Against these securities the corpora tion would issue its own debentures, and it is these debentures that the American investors would be asked to buy. , Such nn arrangement would bring a threefold advantage to the Ameri can investor. He would, first of all, know that the original securities standing behind the securities which he purchased had been selected by competent experts. The securities which he actually purchased would be American securities, for they would be a direct liability of the great American corporation. Finally his risk would be backed by scores of different foreign securities, so that the safety of his investment would not depend upon the safety of any one of these. This corporation, with a capital of $100,000,000. would be authorized under the Edge Act to issue as high as $1,000,000,000 of debentures, 'it is proposed to organize this corpor ation on so great a scale because it is felt that the magnitude of the task demands it. Such a corporation, by its vast resources, would be able to command the best expert talent; it would have the efficiency attaching to large organizations; it would give the utmost protection to the investor; it would be better able to encourage thrift; it would give to every locality the fullest possible use of the capital and funds coming out of that locality; and, finally, it would claim the high est degree of public confidence at home, and by virtue of its prestige and position would exert a certain and commanding position abroad. It is in the interest of even' farm er in this country actively to support such a corporation, because it will be PROMINENT FOOTSTEPS OF NATION LEAD TO HARDING FRONT PORCH n! feci - Tyy t 5 I ; " V : 1 . w,...- Tlioco flnva nrp almost aa ousy for the photographers in Marion, O., a3 those at Washington In the matter of picturing the visits of Important personages. President elect Harding Is keeping to Ins campaign promises of inviting the leading minds of the nation to ex press opinions on the dominant questions and problems of the day, regardless of party connec- s. I'ppox left picture shows Mr Harding and Mrs. Coolidge, wife of the vice president-elect. In the most friendly of chats, while thoir Illustrious husbands confer Up right shows the preainent- and the Democratic leader. Bryan Lower. Herbert Hoover, former food administra tor, and Mr. Harding Hoover, himself a prominent candidate tor sidcntlal nomination, has been montir.npri n n nnwiihle eahinet member in the Harding administration per elect 3 a' HOME SWEET HOME Earl Hurst ILL PROVE MOTHER- DI0M T YOU SAY I COULD GO TO THE ZOO IFI PA5SE0 ALL MY EXAMS ? fH, Fnrli V JL tL 'r - 0 n FARMERS & STOCKGROWERS NATIONAL BANK- Heppner Oregon I BELF-IVE I Pit) 00M EVEKY LITTLE BOY OUGHT TO CO THRO (T THE ZOO - rfM J Li GEE WHTriKER. THATS nothim - my folks a(?e goin' tLet me go thpu college when i get thpu 5chool ' ) LEGION COMMANDER MAKES PLEA FOR BONUS BILL BEFORE SENATE FINANCE COMMITTEE r v t n - - That Col. F W Calbralth, Jr., new national commander of the American Legion, does not propose to be a "mahogany dosk" offi cial was clearly manifested last week when he bopped on a train for Washington to personally supervise the legion's tight for the bonus bill for all former service men. This picture shows Col. Calbruith before the Senate Finance Committee making a plea for the passage of the bonus bill, which the House has already voted favorably upon Onlv part of the committee Is shown in the picture They are Sena tors NcCuiubur, N. I) , McLean, Conn., Dillingham, Vt., aud Curtis, one of the main purposes of the cor poration to support him. It will do this not only directly, by extending credit to th,e direct foreign purchas ers of our agricultural products, but it will also indirectly, by aiding the prosperity of our manufacturing exporters. Hotel t mlrr tw Mnnaicrmrut NeKotiatious t'tr tho transfer of Hotel Intie, wliii-h have bi'en carrk'il on for some weeks were elosel on lust Friday atul the place pasweil from the owner ship of M. It. Haines to that of Her man Moll. Mr. Moll Is an experienced hotel man fully alive to the reiiuirenieulH of a tlrnt class hotel ami he will ee that the hiKb reputation Hotel lone now has tioes not deteriorate under hl nmnaMe ment. He contemplates making some changes in the buildinK which will add to its convenience. Mr. Moll is a pleas ant, jovial Kentlemnn on the old style of boniface and we believe the house ylll remain as popular as ever under his KUitlance. lone Independent. tele -Jcte'tMv billv smith savc me: stavs single BECAUSE A wirE COSTS TOO MUCH, ME TERGETS HOW LONG TMEV LAST. ent.s Mr. ami Mr. S. A. I'iittimiti, thin wiHU. His will return to his 8tutlit?8 on Saturday. Mrs. (. 1. Crawfonl ami littlo tlauti ti'r, Jean, urtivt'tl in !I.pnifr on Kritlay evening last from Khtii-iriHu and havo luen spt'inlini; the wi-ck visit imk with relatives and friends. Mi s. 1'rawfui 1 is teacher of inuwic in the Knlerprine schools and will return to her htune on Saturday. John 1 1 us ton, a ht udeiit at the Uni versity of Oregon 11 1 ei Heal H-.'hool t Portland, lias been si'i-tulini; the hoti day season at the home of his parents, Mr. and Mrs. I-;. It. Huston in this city, lie will return to his studies this eotn intf week, Mr. mid Mrs. lt,,K. Cict,'o have been spending the Christmas season with their relatives in The 1 down on Friday last. KoiriK ARMOUR'S DAUGHTER IS TO WED J' If ri'V.5 v! m 1 Pi v i I S Ofc " A v. I ., . m ; f According to the c'uti'lon (;lole-i Times, the newly erected hotel in that! city is still aw.'iittriK some jiood party! to ciHne alutiK and iut in the furnish- ! iiiKS, take a lease oti the bulhlini; and i open up the hostlery. Krom what the paper states, t'otnlon has a very line. buildinK with some fifty rooms and all I accessable to Laths and equipped with ! hot and cold water and steam heat. The hotel is badly needed and would doubt less he a kooiI proposition fnr the rlKht party. Kverett I'attison, who Is a student of the University of Washington at Peat- j tie, is visitiiiK at the homo of his par- MI3S. LOUTA ARMOUR Announcoinont of the engage ment of Miss Lollta Armonr, only child of the famous packer, 3. Ogdon Armour, to J. J. MltfhoU, Jr., son of a loading Chicago banker, marks tho career of one American girl which has been watched with interest by the en tire nation. Born a cripple with a hip disease, sho was hcalod when her father summoned a fa mous European "bloodless" sur geon here to operate at the cost of more than J 100,000. She Is now 23. She was very active in war work, this picture having been taken at that time. iniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii. FORD j When your Ford is in need of 1 repairs take it to the I I FORD SHOP I ON MAIN STREET 1 Phone 193 LLOYD FELL, Prop. 1 7i 1 1 1 1 1 1 1 1 j 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 r 1 1 1 j 1 1 1 1 1 1 1 1 1 1 1 1 1 j inimmiiii rl FOR PRINTING THAT HAS REAL CLASS SEE THE G.-T. "Perhaps You Don't Know" says the Good Judge How long a little of the Real Tobacco Chew will last. Nor how much gen uine chewing satisfac tion the full, rich real tobacco taste will give. Ask any man who uses the Real Tobacco Chew. He will tell you that this clas3 of tobacco will give more satisfac tionand at less cost than the ordinary kind. Put up in two styles W-B CUT is a long fine-cut tobacco RIGHT CUT is a short-cut tobacco llllfllll WWMMllllWMWIMWnMWMITTWmi IBBMBBW1WPlWI i iiiiiii