-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.
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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.
*
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*
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.
•
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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