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About The gazette-times. (Heppner, Or.) 1912-1925 | View Entire Issue (Aug. 17, 1922)
TAGE FOUR THE GAZETTE-TIMES, HEFFNER, OREGON, THURSDAY. AUGUST 17, 1922. IMPRESSING THE JAPS W BILLY SUNDAY n"EVE". if if t ?4 U i L. MONTERESTELLI Marble and Granite Works PENDLETON, OREGON Fine Monument and Cemetery Work All parties interested in getting work in my line should get my prices and estimates before placing their orders All Work Guaranteed The Byers Chop Mill iFarmrlr SCHEMPfS MILL) STEAM ROLLED BARLEY AND WHEAT Alter the '20th of September will handle Gasoline, Coal Oil and Lubricating Oil You Will Find Prompt and Satisfactory Service Here It i t i if II " LAV 4 V 1 i II . X Secretary of Navy Oenby went to the Orient oa peaceful mission, nevertheless, bis stop in Japan did not fail to impress the little islanders. His peat tixe was made more coossicuoas as he walked through the palace ground with Admiral Ord. lilt wife is with him. "V - a3 v I M 1 I 1 1 I Community Service Mary Agnes Vitchestain is a 14-year-old girl evangelist of Pittsburgh, Pa. Her sermons are delivered with all the two-fisted punching of Billy Sunday's gymnastic gyrations. She was recently invited to preach in New York. Pioneer Employment Co. With Two Big Offices PENDLETON AND PORTLAND Is prepared to handle the business of Eastern Oregon better than ever before Our Specialties Farms, Mills, Camps, Hotels, Garages, Etc. WIRE RUSH ORDERS AT OCR EIFEHiSj Fortlu Oik PaasUctm Om it H. Imal ft. Ill SV WeM It. The Only Employment Office in Eastern Oregon with Connections in Portland 9iiiiiiiiiiiinuMiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiiiiinit: ! A. M. EDWARDS WELL DRILLER Lexington, Ore. Box 14 Uses up-to-date traction drilling outfit, equipped for x all sizes of hole and depths. 1 WRITE FOR CONTRACT AND TERMS- Siiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiniiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiuiiiiiiiiiiiiiiini OU have been walking in the sunny fields of prosperity. Life seems secure. Youth and strength are careless and forgetful. You have spent money as you have earned it. Suddenly a flood of hard luck t comes rolling toward you. Will you be overwhelmed by it A BANK ACCOUNT IS A SAFETY ISLE. START ONE TODAY! Dollars deposited In this bank draw interest at 4 per cent They art safe dol lars busy dollars. A small bank account serves as an Incentive to save, save, Save If you have only a smsll sum put aside, deposit it with us today. All Urge fortunes had small begin nings. The biographies of all rich men start with their first bank account YOUR BANK CAN HELP YOU FARMERS & STOCKGROWERS NATIONAL BANK Heppner Oregon F ID I II S. Foreign Trades Council Shows Details of Benefits Through Banking . j IMPORT OF SECURITIES MORE THAN EXPORTS American Investors Develop Tendency to Buy Euro pean Securities. By 0. K. DAVIS, Assistant Secretary National Foreign Trades Council. Editor's Note: 0. K. Davis, an ex ecutive of the National Foreign Trades Council, herewith tells something of the great international movements now go me on wherein America through her investors is becoming banker to Europe, or one might say, to the world. The ad vantages that arise from such action are held to be many and Mr. Davis dwells upon both the immediate result and the results to come. The reports of the United States cen sus show that this country has become preponderously industrial in its produc tion, instead of being agricultural as it was up to the first decade of this cen tury. It is a matter of first importance therefore, to the welfare and prosperity of all our people, that our vast indus trial establishment should have every possible opportunity for full time and full handed occupation. That is the only condition that will reasonably as sure the steady payment to the great majority of our working men and women of remunerative wages for work done, and a fair return for capital employed. At the same time, that is the condition which will provide the best returns to agriculture. The effort of all peoples, at all times, has been the improvement of their con dition of life, that is, of their civiliza tion. Industry and trade have been their chief agencies in the execution of this purpose. Naturally those peoples which have developed the greatest measure of j national solidarity in support of their industry and trade have made the most important progress. It is worth while consequently, for those who may have opportunity to engage in certain interna tional transactions that offer profit to themselves, to consider whether there may not also be open to them an oppor tunity to benefit the trade and indus try of the whole country. The Loan Industry. One method by which the industry of some foreign countries, notably Great Britain, has been fostered, is the granting of loans to other countries by British bankers. Sometimes, but not always, perhaps not even in a majority of cases, the British capitalists, in ne gotiating with foreign borrowers, have been able to reach an agreement that a part, at least, of the proceeds of the loan, should be expended directly in Great Britain for the purchase of pro ducts of British industry. In some esses this practice has been of long continu ing advantage, especially where it is volved the purchase of railway or other machinery supplies during a period of years following the making of the loan. Sometimes, where the loan was effected to finance an industrial undertaking in the borrowing country, the lenders have been able to secure representation in the management of the concern thus financed, with consequent flow of con tinued orders for supplies to the man ufacturers of their own country. Recent months have seen an extra ordinary development in the capacity of the United States to grant foreign loans. American investors have shown them selves more and more willing to absorb securities based on the pledge or guar antees of foreign governments, and to some extent on the pledge of foreign READY FOR THE JUDGES Youthful calf-club and pig-club members are already grooming their pets for fall judging. Betty Compton, however, enters her black-faced sheep. fit S 1 Industrial enterprise. Apparently, therefore, the situation has been reached where American investment bankers, In negotiating loans to foreign borrowers, will occasionally have opportunity to shape their negotiations in such a way as to provide additional employment for American industry, as has been done by British, German, Belgian and other European bankers heretofore, and as British bankers especially are now doing not infrequently. It was with these facts, and this sit uation in view that the Committee on Banking of the National Foreign Trade Council recently addressed a letter to trade organizations and chambers of commerce throughout the United States suggesting that the attention of individ ual investors be called to this matter. This was with a view to encouraging the issuing houses handling such foreign loans, to arrange, wherever practicable, that a part, at least, of the loan pro ceeds should be spent directly for Am erican goods. Opposition Arises. This request evoked immediste oppo sition on the part of some of the prom inent investment bankers and issuing houses. In their published arguments against it, however, they all, so far as has come to my notice, erroneously as sumed thst the proposal of the Commit tee had been that the suggested stipu lation should be applied to all foreign loans floated in the United States. That was not the fact The original letter of the Committee pointed out thst not all foreign loans are susceptible of such a stipulation, but advocated its inclusion '"wherever practicable." Between inclu ding it by negotiation "wherever prac ticable" and including it by insistence in all cases, there is a vast and very ma terial difference. It is clear that some foreign loans, including a few of no little importance, are susceptible of such an arrangement, and it is desirable that American in vestment bankers, when negotiating such loans, should always have in mind the possibility of rendering a beneficial ser vice to American industry. A case in point was the recent loan negotiated In New York by the Dutch East Indies gov ernment. The Dutchmen expected that the American bankers would ask them to agree to spend some of the forty mil lions they were borrowing for American products, and were prepared to accede to that request. They went so far, in facie -Jcte? tibs.i TOO MANY PEOPLE THINK THE ROLL OF HONOR IS f BANK ROLL r fHE ROLL OF JY HONOR IS A unrnc l wcU I vs f coshi oty 1 nUjIlL faj e water, " S. I vie Just 6bt our, I oiirn W JT0, rS ilv wtbr out op I SWEET "Trfff WE'LL CO OUT AM' a MUftRY UP WITH GET THE aILK!1 -v "HE PAlL.OriCLl f k L i ' ft I'LL PUAPj I COLD FEET. This life we live is Irksome, no matter where we be; the road is lined with boulders, an breakers crown the sea. But we mustn't get discouraged an' de clare that life's a cheat for the pros- pecks am t so cheerin' when a feller gets cold feet The man that proves a winner, is the man that trims his sails, and steers his craft unerrin' amid the storms or gales. the hard knocks dont dismay him, which he squares his chin to meet and his symptoms dont betray him he nev er gets cold feetl There ain't no road to glory, but what's beset with thorns, and it's purty hard to travel, if your're pestered some with corns. So, to make yer failure cer tain, wear yer pants out on the seat it's a sign that alters tells me that a feller's got cold feet. . . . I like to greet the feller that can laugh at clouds an' cares that squares hisself in trouble, with his fists as well as prayera. . . . One that earns a ben ediction, that Is mighty soft an sweet He blessed the world he lived in, and he never got cold feetl Is Brooklyn Bridge Falling Down? That largest suspension span on the famous old stractare, the Brooklyn Bridge at New York, has slipped under the constant ham mering of traffic and authorities have closed it to all except pedes trians. Arrow point to slipping cable. fact as to open negotiations with two electrical concerns for machinery for the East Indict. But the lenders did not make the request and when the loan was concluded without it the Dutch dropped their negotiations for American sup plies, and placed their orders in Ger many. Difference Noted. The investment bankers assert, in sup 1 ort of their position, that the proceek of a foreign loan floated here muit go abroad sooner or later as exports of Am erican products, and that in the case cited it makos little difference wholher the Dutch bought electrical machinery here or the Germans used the dollars borrowed by th Dutch to pay for Amer ican cotton, copper or other raw mater ials. There Is this important difference, however. The exports would have been prompt If the desired stipulation had been made in the Dutch loan, whereas now they may not go out for several months, or perhaps a year, and there Is much unemployment here. This matter is regarded as of decided importance by many of the leaders of American industry, who feel that the in vestment bankers should not only be willing to improve opportunities such as that offered by the Dutch loan, but also should be on the lookout for them. Of course, if American investors in foreign bonds should form the habit of Inquir ing whether or not any part of the loan proceeds was spent for American pro ducts that would no doubt tend to make the issuing houses more active in secur ing such an agreement wherever prac ticable. The recent National Foreign Trade convention, which was composed of more than 1,200 foreign traders from all parts of the country, declared itself very clearly on this subject by adopting unan imously, the following statement: "The importation of sound securities serves either to liquidate outstanding foreign obligations or to furnish new occupation for American industry. It is of the utmost importance that our in vestment bankers when negotiating for eign loans should always have in mind so to handle them as further American trade and they should, as far as prac ticable, provide for the expenditure of some portion of the proceeds in this country for exports. "Attention is called to the fact that the importation of foreign securities in tne first four months of this year has greatly exceeded our excess of merchan dise exports over imports. At this rate and with normal continuation of alien remittances, tourist expenditures, and payment for shipping, insurance, bank ing, and other services, coupled with our private Investment In foreign enterprise, our favaorable trade balance will pre sently be wiped out unless due provis sion Is made for the use of tome portion of the proceeds of foreign loans in the purchase of American products." Morrow Girl Now a Countess. Because a New York French woman claiming to be the Countess de Toeque ville de Rampan de Chanquetol has seen fit to adopt one Claudia Windsor Tar- rtoue and saddle the poor girl with the title of Countets, the press and the sensation-loving public have been quite wrougt up of late. Numerous places on the coast have claimed her as their very own, gushing quite a bit over her as the daughter of a wealthy mining man, etc, and now a titled lady (how sweet). We are informed the facts are that Claudia Windsor was born and partially raised in a shack on a small sagebrush farm about five miles from Lexington in Morrow county, the daughter of hard working parents who found it hard scratching in those days to make both ends meet. But that is nothing to her discredit If she sizes up to the high stan dard of Morrow county womanhood. Her father was the late Al Windsor who died several years ago in California, and she is a niece of Wm. Windsor, a highly re spected citizen and good fellow living in the lower part of the county and known to all our citizens as the "Sage of Windsor Castle." It Is said she had been married to one Busch and also to a Frenchman named Tartoue, but separ ated from both. Morrow county is not peeved because other sections of the state are claiming the newly made countess, though she rightfully belongs to us, for we have scores of girls fully qualified to fill the station of countess, princess or queen, therefore we will never miss this one. lone Independent. uttchettes mrVi IMA MATTHEWS The Farmer's Boy It may be trite to say that farm ing is the most necessary and one of the most honorable occupations in the world. The world will always be indebted to the farmer. Without him is would be Impossible to progress in any line. The farmer has not always considered his position In the digni fied way he should. In fact, it is only in recent years that he has been made to realize the scientific side of his work. Prior to that time he was a robber; an ingrato. He scratched the soil; he mutilated It; he robbed it of its producing power. Any farmer who does not give back to the soil a proportionate part of that which he takes from it is an embezzler, not only of God's Providence, but also of Nature's bounty. The farmer did not have the right attitude toward his own son. He worked him because he was his son. That was unfair and dishonest. He should have considered his son a part ner and shareholder in the labors, re sponsibilities, liabilities, assets and profits of the farm. He should havo rendered an account to his son, paid him a just compensation, and given him an honest and equitable share in the profits of the farm. The farmer has not always made the farm attractive to his son. You can't keep a boy at home if you give D.D. LL.D. him a pine knot fire by which to read when the world offors him elec tric lights, a library, and a reading lamp. The farmer must bring the pleasures, amusements, books, mag azines, and attractive things Into his home and upon his own farm if he expects to keep his boy and make a great agriculutrist out of him. The parcel post, the rural mail de livery, the automobile, the paved highways, and other conveniences are for the purpose of enabling the farmer to bring the attractions of the world into his own little country home, into his own desolated farm house, and to his own fireside. If he will seize the opportunity, fill his table with magazines, papers, and good books, bring in the music box, and the wireless radio and thus make his home attractive, bright, cheerful, magnetic and fascinating he will keep his boys and girls around him. This is the day of the farm if the farmer will only realize it. This is the hour when the farm ought to be the most attractive spot In the coun try; this is the moment when the farmhouse ought to ring with music, and the barnyard ought to be the convention hall of agricultural and political activity. The farmer should make his son the leader in that con vention and teach him how to mould public opinion and direct legislation. Let the farmer learn how to be generous and kind to his children and to keep them in the atmosphere of agricultural purity, peace and prosperity,