Image provided by: Hermiston Public Library; Hermiston, OR
About The Hermiston herald. (Hermiston, Or.) 19??-1984 | View Entire Issue (July 13, 1918)
-THE HERMISTON INSURE YOUR HAY It is too valuable to run any risks, === yourself at once. = The reason for the beaming smile on the countenance of Aiderman E. P. Dodd is the acquisition of a little baby daughter that was presented to him by Mrs. Dodd at the family home Fri. | day morning, July 12, 1918. A The First National Bank Slgiapi of Hermiston toy Capital & Surplus $30,000 partment of the Interior. U. S. Land Office at "a Grande, Oregon. June 11. 1918. Notice is hereby given that Thomae F. William- L of Hermiston, Oregon, assignee of Ansel O. Loner who on May 20th, 1906, made Desert Land ““.01050, for SW NW% and N 12 SWM sec- En 15. township 5 north, range 28 east Willamette reridian, has filed notice of intention to make " proof to establish claim to the land above Scribed before W. J. Warner, United States smmissioner, at his office at Hermiston. Oregon. ■ the 6th day of August, 1918. Claimant names as witnesses: William J. Dob- t William Lacy. William T. Roberts, and Wil- 7 B Spinning, all of Hermiston, Oregon. " Second Cutting The second cutting of alfalfa has been begun by a number of ranchers on the project, and all report a heavy crop. The price of the hay is ranging around $17 50 for loose and $22 for baled. LOCAL BRIEFS Philip L. Lay returned Sunday from a business trip to Puget Sound points. Protect DROP IN OR PHONE US notice for publication . HERALD, Carload after carload has been going out of here steadily, and already nearly all of the first cutting has been C. S. DUNN. Register shipped. HERMISTON, OREGON We »re all creatures of habit, and the Thrift Stamp habit is an excellent one. Cultivate it, ai d buy with all th power that is io you to help your gov ernment win the war. An old settlers' reunion was held on the evening of the Fourth at the home of Mr. and Mrs. J. T. Hinkle, at which time about 150 peonie assembled on the spacious lawn and ate ice cream and cake and made merry until a late hour. R. Alexander of Pendleton was among the bunch of old-timers. If gratitude is due the man who makes two blades of grass grow where only one grew before, what is due to the farmer who has planted this year twice the acreage of foodstuffs that he ever did before? No. 9281 Reserve Disi. Ne. 12 REPORT OF THE CONDITION OF THE FIRST NATIONAL BANK st Hermiston, in the Stale of Oregon, at the close of business. June 29, 1918. RESOURCES Loans and discounts Overdrafts, secured $124,011 46 Surplus fund____ Undivided profits 5,000.00 and taxes paid Circulating notes outstanding ......... Demand deposits: Individual deposits subject to check 4,234.93 Cashier’s checks outstanding. U. S. bonds to secure circulation (par value) 6,250.00 U. S. bonds and certificates of indebted- ness owned and unpledged. 5,000.00 Premium on U. S. bonds . -............. ... Liberty Loan bonds, unpledged, 312 per cent and 4 per cent 1,756.80 Payments actually made on Liberty 4% per cent bonds .... 7,319.05 Securities other than U. S. bonds (not in- eluding stock) owned unpledged Stock of Federal Reserve bank (60 per cent of subscription) Furniture and fixtures ............................... Real estate owned other than banking house Lawful reserve with Federal Resirve bank Items with Federal Reserve bank in pro cess of collection (not available as re 11,250.00 295.46 Total demand deposits 144.324.46 Time deposits (payable after 30 days, or subject to 30 days or more notice) Certificates of deposits (other than for money borrowed) 19,800.51 Total of time deposits subject to reserve. 19.800.51 items 42, 43, 44 and 45 Mrs. B. F. Knapton left Wednesday $204,609.90 Total for Portland in company with her 9 9,075.85 State of Oregon I year old son Robert to have the child County of Umatilla I 24,889.38 1, A. L. Larson, cashier of the above named treated by Dr. McKenzie of that citv bank, do solemnly swear that the above statement is true to the best of my knowledge and belief. At the age of two years the little 900.00 A. L. LARSON. Cashier. fellow was stricken with infantile par- 1,516.42 Subscribed and sworn to before me this 9th day Mr. and Mrs F. D. Stanley arrived alysis, which left him in a crippled of July. 1918. ............................................... W. J WARNER. Notary Public. 294.88 Wednesday from Baker, Ore., to make condition. Mrs. Knapton expects to My commission expires Feb. 9. 1921 their home here permanently. Mr. be gone a month or more. Correct — Attest: .................................... . .......... 15,575.42 Stanley is a retired wheat farmer, and F. B. SWAYZE. Mrs. A. Spinning, Mrs. H. M. Ad CHAS. E OPEL. is looking around to acquire a home ams and Miss Lila McMillen were hos J. R. RALEY. Directors. 645.60 and a little garden ground in this city. tesses at a sewing partv at the home Cash in vault and net amounts due from national banks ....................... 16,138.39 1 he Baptist Ladies Aid are going to of Mrs. Adams last Saturday afternoon. Good young fresh cow and calf for have an all day meeting at the home The rooms were tastefully decorated in Total item 14. 15. 16, 17 and 18 16,783.99 sile. Wm Kennedy 43t fe Redemption fund with U. S. Treasurer of Mrs. A E. Bensel north of town pink and white for the occasion. and due from U. S. Treasurer .. 312.50 Notice to Auto Owner«—Due to labor next Wednesday, July 17 It will be Twelve ladies were present, and sew Total $204,609.90 shortage, garage hours will be 7:00 a. a picnic dinner affair, to which every ing and social converse helped pass a m. to 8:00 p. m during week, except one is welcome to bring a lunch and pleasant few hours. Ice cream and Saturday to 10:00 p. tn. Sundays 7:00 LIABILITIES have a good time. cake was served. Capital stock paid in 25,000.00 a. tn. to noon only. Sappers’ Inc. 43-2c Are the Packers Profiteers? Plain Facts About the Meat Business The Federal Trade Commission in its recent report on war profits stated that the five large meat packers have been profiteering and that they have a monopoly of the market. These conclusions, if fair and just, are matters of serious concern not only to those engaged in the meat packing business but to every other citizen of our country. The figures given on profits are misleading and the statement that the packers have a monopoly is unsupported by the facts. The packers mentioned in the report stand ready to prove their profits reasonable and necessary. * » * * The meat business is one of the largest American industries. Any citizen who would familiarize himself with its details must be prepared for large totals. The report states that the aggregate profits of four large packers were $140,000,000 for the three war years. This sum is compared with $19,000,000 as the average annual profit for the three years before the war, making it appear that the war profit was $121,000,000 greater than the pre-war profit. This compares a three-year profit with a one-year profit—a mani festly unfair method of comparison. It is not only misleading, but the Federal Trade Commission apparently has made a mistake in the figures themselves. 125,079.91 Certificates of deposit duo in less than 30 days (other than for money borrowed) 18,922.09 27.00 Certified checks , The aggregate three-year profit of $140,000,000 was earned on sales of over four and a half billion dollars. It means about three cents on each dollar of sales—or a mere fraction of a cent per pound of product. fair return on this, and as has been stated, the larger portion of the profits earned have been used to finance huge stocks of goods and to provide additions and improvements made necessary by the enormous demands of our army and navy and the Allies. . « . t If you are a business man you will appreciate the significance of these facts. If you are unacquainted with business, talk this matter over with some business acquaintance- -your banker, say-- and ask him to compare profits of the packing industry with those of any other large industry at the present time. * * * * No evidence is offered by the Federal Trade Commission in sup port of the statement that the large packers have a monopoly. The Commission’s own report shows the large number and im portance of other packers. The packers mentioned in the statement stand ready to prove to any fair minded person that they are in keen competition with each other, and that they have no power to manipulate prices. If this were not true they would not dare to make this positive statement. Furthermore, government figures show that the five large pack ers mentioned in the report account for only about one-third of the meat business of the country. They wish it were possible to interest you in the details of their business. Of how, for instance, they can sell dressed beef for less than the cost of the live animal, owing to utilization of by- products, and of the wonderful story of the methods of distribu tion throughout this broad land, as well as in other countries. Packers’ profits are a negligible factor in prices of live stock and meats. No other large business is conducted upon such small The five packers mentioned feel justified in co-operating with each other to the extent of together presenting this public statement. margins of profit. They have been able to do a big job for your government in its time of need; they have met all war time demands promptly and completely and they are willing to trust their case to the fair- mindedness of the American people with the facts before them. • • * * Furthermore—and this is very important—only a small portion of this profit has been paid in dividends. The balance has been put back into the business. It had to be, as you realize when you consider the problems the packers have had to solve--and solve quickly—during these war years. To conduct this business in war times, with higher costs and the necessity of paying two or three times the former prices for live stock, has required the use of two or three times the ordinary amount of working capital. The additional profit makes only a Armour and Company Cudahy Packing Co. Morris & Company Swift & Company Wilson & Company
