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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 29, 1915)
IJITjujmia(nsc S-3ifcj - avmtrstr r 1A-, i hi r 4 H fj n1 J BIG SYNDICATE GOVERNOR OPENS ORGANIZING TO OT FLOATWARLOAN :My OTDFOUD MATL TKIBUNE, MEDFOnjD. OREflON, WEDNESDAY, RFiPTEjTBTSU 20, 1915 PAGE Price of Half Billion Allies Bonds to Underwriters Is at 96, to Actual In vestor 98 Syndicate to Be Largest Ever Organized, Country-Wide In Its Extent. NEW YOIIK, Sept. 29. Tlio 500. 000 five year five per cent Joint An-Klo-Krcnch bond Issue, sccurlriR tlio credit loan to bo established hero to (Jrcnt Urllaln and France, will bo plnccd upon the market In New York City and approximately twenty other cities throughout tho country simul taneously within tho next thrco weeks it was decided today. Jletwcen forty flvo nnd fifty banks, trust companies nnu conn nouses will participate in this city. This decision was reached today at n meeting In tho office or J. l Mor gan nnd company, of ton of tho lead ing financiers In Now York City. Any lloiik May Join Tho chief cities In which tho Issue will bo marketed aro Philadelphia, Norton. Chicago, St. Louis, San Fran cisco, Pittsburg, Ilnltlmorr, Atlanta, St. Paul. Minneapolis, Denver nnd Louisville, in cncj, of u,0 ct(es ,. vl, It Is understood, n local nyndl cato has been formed or Is In forma tion to conduct tho salo of tho -bonds In lis territory. H was announced that any bank In any section of tho country might Join the syndicate. NKW YOltIC, Sept. 29. Deflnlto formation of tho big syndlcato of bankers who will float tho half bil lion dollar credit loan to Great Ilrlt nln and Franco was begun today by J. P. Morgan and company, and other financiers who havo been associated with them In tho negotiations hero with tho Anglo-French financial com mission, it Is proposed to mnko tho syndlcato tno largest of Its kind over scon In this country and to Include In its membership banks, trust com panies nnd Individuals from tho At lantic to tho Pacific. In ovory Inrgo city pr flnnnclal center In tho United Slates thero is to be, under tho present plan, a group of bankers who will act as local syndlcato managers. In tho south nnd west tlioso groups will oporato over somowhnt enlarged areas; In tho middle west, tho north Atlantic states and New Unglnnd, whero tho popu lation Is dense, tho groups will, In Mtmo case:), confine tholr activities practically to tho city in which tho member banks aro located and its immodlato suburbs. l'rlio to Syndlrnlo How long It will bo before tho Anglo-French commission and tho syndl cato managorH sign tho contract, whoso details wcro officially announc ed here and in Chicago last night was today a matter of surmise. Tho agreement which will bo embodied in tho contract requires tho ratifi cation of both tho British nnd French parliaments nnd tho contract can not bo signed until this Is forthcoming. It Is extromoly unlikely however, that ratification will bo refused or ovon delayed. Tho most surprising fenturo wan tho price nt which tho big Issuo Is to bo sold to tho underwriting syndl rate ninety six. Provlous reports had ranged from 97 1-2 to 99. Tha bonds will bo placed on tho market at 98 'to tho Invostor. Tho two per cent difforonco In tho prices to tho syndlcnto and tho Investor will pro vldo a profit to tho syndlcato to reim burse thorn for tho expenses Inciden tal to tho loan's flotation. , Sold nt it IHMount .. riccauso tho bonds will bo sold four points under tholr par valuo Great Urltaln and Franco will havo placed to their credit hero, not J500.000.000 but $ I SO, 000, 000. In other words tho two nations aro paying $20,000, 000 for tho prlvllego of buying Am erican products at top of tho market prlcos. In addition to this U'0.000.000 tho two countrloa will pay 25, 000,000 annually for flvo years In Interest to tho holdors of tho bonds. Individuals wishing to buy largo blocks of tho bonds may Join tho syn dicate, It was announced, but a limit, jot to be disclosed, will bo placed on individual purchases. To accommo date small Investors tho bonds will bo iMueri In denominations as low as S1H0 and may bo paid for in install ments, whoso amounts aro yot to bo dotoriMlHOd. Deflnlto word has been received from Governor Withycombo In res ponse to an invitation from tho 7th company that arrangements aro be ing perfected that will permit "tho governor nnd staff to stop off In Mcd ford whllo onrouto to tho Panama Pacific exposition tho latter part of October, at which tlmo tho dedication exercises will bo held at tho formal occupation of tho new nrmory being constructed for tho artillery company. In consequence of tho contemplat ed visit of tho governor nnd mllltnry staff, tho tullltla boys aro nlrcady mnklng their plans for tho, biggest military reception nnd ball over given In Southern Oregon. Tho now rooms aro well suited for tho occasion, thero being eight largo rooms occupied by tho mllltln company, consisting of largo parlor or club room, billiard room, locker room, plotting room, quartermaster department, storage quarters and tho large drill and ball room which Is being constructed with hard wood floor especially adapted for dancing nnd drill purposes. riiiv!uiM Furniture Tho militia organization has pur chased about ono thousand dollar's worth of furniture, piano, billiard and pool tables, athletic paraphernalia, otcv,, nnd expect to make tholr rooms tho headquarters In tho futuro for athletic events nnd military balls. Among tho equipment which Is being Installed Is n wrestling mat, fencing foils, boxing gloves, basket ball equip ment and gymnasium devices. "Word has boon sent out by Cnplaln Vanco for all members to roport nt tho nrmory Saturday morning, nt which tlmo drayH will begin moving tho equipment to tho now quarters, nnd within a few days it is expected that everything will bo In order for nctlvo drills onco moro. Tho general public will not bo admitted to tho rooms until tho 'formal opening and dedication by tho governor tho latter part of October, when tho "event" of tho social season will bo staged. AMilmul to !o lriscnt Tho cntlro 1st company of AhIi lnnd havo sent word that they will bo present In full dress uniform, nnd assurances havo also been received from other military organizations of tho tsato that their officers will bo present. A regular army officer will also bo In nttondanco under direction of tho war department. Invitations will bo sent to leading politicians of this section of tho stnto to attend tho governor's recontlou. and tho ladles nro also expected to take an actlvo part, as many ladles will nccompany tho governor's party, which will spend an cntlro day nud evening In Medford. An nutomobllo rldo around tho valley will bo a fea ture of tho reception providing tho weather Is pleasant, otherwlso it is planned to havo a reception nt tho hotel In tho afternoon by tho Indies. PRESIDENTIAL POSSIBILITIES FOR1916 Theodore Elijah Burton, Main Bloom In G. 0. P.'s Presidential Hot-House. MUTINY OVER BISHOP'S ORDER (Continued from pago ono) u .-f 1000 u your job, which is rogunl cd by his friends ns unmerited. Algiiiiicnt.s for War The nHMxumcntK for tho Klumiith district, made following the Kobc'liur- conference, nre: II. J. Van Fokm-ii, superintendent. Ahhliuid, V. J. Douglas. Boniinzii, S. W. Hull. Cnnyonville, supplied by ( C. Coop. tent ml Point, supplied by J. C. Stille. Gold Hill, supplied by C. K. Wliiir ton. Grunts Pass, M. T. Wire. Indian Mission, Klainiith, to ho supplied. Jacksonville, It. A. Hutchinson. Kerby, J. M. I'roiibliuw, -Klnmutli Falls, B. ( Hioliurds. Liikowow, W. J. Weber. Medford, .1. C. Kollins. Merrill, supplied liv J. T. Ouw,v. I'nisloy, supplied by A. Hawthorne, Jtosobuiy, W. It. Joffroy, .Jr. lloroburg eitoiiit, supplied by ('. (8, Morris Sutlierliii, supplied by (i-'onro Trites. Tnlent, supplied Iv M. O. Iteid. Wilbur, II. W. Itummoll. Wilderville, J. M. Cruiisliuw. Yuinnx, supplied by W. W. He euur. T. Says Caroline Cutter "1 want to be an angel, HNt not Just et a while; I find the present fashions Suit no peculiar style."' -Tennyson J, Dili 1 Judge, Tlio I'kUo Chap A youth edged Into Tlffanr'H on Fifth avenue, Now York, ono day re cently and selected an engagement Tho clerk asked him if ho desired it inscribed. Ye," ald tho youth ."Augustus to Irono." And-or-er don't cut 'Ireno' vary deop, will you?" Punch. "Have you ever had any experience with children?" No mum I've worked ouly in tho beit families," WASHINGTON, Sept. 28. Tbco doro B. Iturton of Ohio Jj today tho most likely candldnto for tho repub lican presidential nomination. Ho 1h coming into tho Hoot strength, Hoofs ago and record aro gradually putting him out of tho running. Tho conservative business interests which sometimes aro called "Wall Street,' aro casting a. friendly oyo on Burton. If Hoot wcro ten years younger, nnd n bit moro of .a popular hero, they would prefer him. Ho was the cholco of tho late Senator Aldrlch and Is still tho choice of William Harncs. Hut the moro nstuto' repub lican leaders recognlzo tho need for n man who can go into tho middle, west or west nnd mako somo headway t In a popular primary -..- 20 Years in lMbllc Llfo Theodore Klljnli Durton has a roc ord of 20 years of public life. Tho public knows him. In his votes nnd speeches ho has shown what ho is ns a public man and tho publicity which shines on senators and such has shown something also of Hurton's porsonal characteristics. As to thoso It Is Interesting, though unimportant, to know Hint ho Is Gi, n studious bachelor, with an absent minded mnn nor, a full rich volco, nnd n labored hnblt of geniality. Ho was born nt Jefferson, Ashtabula county. His father was a minister nnd his mother n college graduate. As a boy ho was delicate and addicted to books. At u-no was reading Hlnckstonc; not from cover to cover, but ho was read ing In the famous commentnr.lcs. When other boys wcro plnylng base ball, Thcodoro Elijah was giving an Imitation for tho benefit or the family cat of father conducting a religious sorvlco. So when Thcodoro grew up nnd had gono through Grlnncll nnd Oborlln colleges, It was natural that ho should study at a theological sem inary. Ho was by family tradition destined for the church. Heroine n Lawyer Hut underneath tho Holomn nud studious exterior, unknown perhaps to his early friends nnd associates, thero lurked In T. Burton somo leaven of worldllncss nnd wheu It canio tlmo to chooso a pastorate, ho clioso to study law. Ho went to Chicago nnd studied In Lyman Trumbull's office, whence ho returned to Cleveland nnd began In 1S75 to spcclnlizo on tho hnndllng or estates In probate. It was that first yrar ho laid tho foundations of a competence (perhaps $200,000) by saving most of his $3000 earnings, A thrifty, studious llfo has slnco con tinued the snvlng practice,, and in vestment in renl cstato has proved safe and moderately remunerative Hurton's stop Into public llfo oc curred when ho consented to bo can didate for the city council In tho 4th ward of Cleveland, in 188C. Ab al derman ho proved to bo ono of thoso usoful Implements In practical pol itics a fellow who is willing to do tho rcsonrch nnd desk work, nnd to supply precedents nnd parliamentary loro on call. For faithful sorvlco ho was promoted to n congressional nom ination by tho lunchlno nnd was In congress, except when defoated a couplo of terms by Tom L. Johnson, until a year ago, when ho decided not to run again for tho senate. Absent MludM Hook M'orm In tho bouso and later In tho sen ate, Hurton was tho saino studious. absent-minded bookworm. As chair man of tho river nnd harbor com mltteo ho beenmo a inlno of technical Information garnered from engi neer's reports and visit to tho places. As holder of tho pork barrel purso strings, ho wan courted and feared nnd Inter when tho pork barrel bo en mo a domocntlo party function, Hurton, as a member of tho republi can minority, achieved fnmo nud favor by draw Jug on his largo exper ience to show up somo of tho partic ularly rotten grafts which wore bolng perpetrated by tho southern demo crats under tho namo of waterway Improvements. Tho studious boy In big specs Is sometimes a mollycoddle, nnd tho freckled mlck from ncross the tracks can often punish him with Impunity. Not so with Theodoro Elijah. This boy has a como-back punch. Ho Is a good fighter, right or wrong. And, on tho personal side, In spite of his monkish look and his book-writing habit, ho Is a bit of a sport- Ho gets into his baggy dress milt almost every night and takes his meals nt tho Met ropolitan club. Sometimes he has even been seen J aljght, from a taxi as lato as 10:30 p. m --or oven later and there are rumors that onre ho was heard to hum a llttlo tune on his way to bed. IttMirtlonarv Iteitubllran Hut on the wholo Hurton looks up on llfo as a Mtrlous affair. The Public Hurton the Hurton of votes, speeches and congressional sets Is the conventional, old school, re actionary republican. Ho Is ' for ward looking'' on only two subject ' world peace' and Journal water It ' MErtiiiHx B I ' "iiHliiiiiiiiiiiiiiHHiHkiiiiiiiiiiiiiiiiH i ts3,wrt..r!Mk"rSTn53: trrim? TKE.O H-IbXUTOK (&L VAUOLYlN Improvements. On tho tariff ho is what Aldrlch was. Ho voted 111 times with Aldrlch on (ho revision of the tariff seven years ngo. This was a catiso of great offenso to ninny of his Ohio constituents who had nup- ported him for tho scnato In tho be llerf, if not on tho understanding., Hint ho would add. his vote to tho pro gressive group which was fighting for a moderate rovlslou downward. In tho general run of voting in tho sonnto tho Hurton voto will be found In that group typified by Penrose, Gnlllngcr, Cfano and Smoot. It wan tho unino In tho house. For 20 years ho was pnrt of tho organization, controlled by Cannon. Tawney nnd James H. Mann. Hurton is "safo and ano." Hurto Is of tho typo of mind which defends the holder of tho franclUso; ho does not crusndo for tho opoplo. If Hurton Is selected ns tho presi dential candldnto of tho ropuhllcnnrf, It will bo becnuso ho typifies reaction-, and because tho republicans bellevo tho pcoplo will yoto fpr n reactionary candidate. And, when ho takes tho L' , . . . - - stump his appeal to the olectornto will bo to hark back to tho "good old uayH," et cetera, ct cetera, ct cetera and ho will appeal In Ellzabetluiu English, grammatically., rotundly, fact fully, with tho possibility of n untlu quotntlon slipping In, or a ref erence to somo authority who ex presses his viows in Hebrew. NEWDREADNAUGHTS TOHAVESAFEGUARDS FROM SHI WASHINGTON, Sepl. 11. Hull plnns of tho two a'J.UOO-lon ilreail iiuughts, bidH for which were udver-ti'-cd recently, tire ljcinjr elosoly gunnjed by nnvy department officials, ns they include now idens ns to de fense tiKiiinsl torpedo ntinek. It is utuU-rMood, however, the ex periments with flontinp; enissons bc pin immediately after tlio effective ness of Mibmnrines wus demonstrat ed in tho Kuropcnu wnr, hnve thrown lij,'ht upon tho problem of KiuirOiiif; ships' bottoms from torpedo nttuek and the provision lias been inndo in phitiH for the now vessels for renter subdivision nnd possibly for u dorc" of nnnnr over vltnl sections. Nnvy exports are applying their theories in actual practice in rcneli iiif,' their decisions. Specially con structed caissons aro tested with full charge explosives. At the sniue time experiments havo been in progress with chain torpedo nets' suspended from tho ships. Tlio new ships will virtually duplicate the California olnss in appearance. They will havo the clipper bows adopted for the California, enrryinp; twelve H-iuch Rims mounted throe to a turret" and will mako 520 '.& knots an hour. .In size tho ships will be the maximum Hint can pass through tho I'aiinma cnual, (ill) feet in length nnd 1)7 in beam. a it- TTTRTSE WAR SPECIALTIES STILL SOARING IN. SICK MAKE NKW YOltIC, Sept. 129. Settlement, of tho mniti features of tho $r00,000, 000 interest credit or loan was tnndo the occasion of another wild move ment in special stocks today. Tlio trading wns again highly sjieculalivd and professional, the former clcraqnt being prominent on the bnying sije whilo trnderi sold libernlPy. The market resolved itself into a bnttlo royal between thoso two elements. Advances in tho moro prominent war shares ranged from 7 to J.'J points, this group including Haldwin Locomotive, Lackawanna Steel and Tennessee- Copper. Other noteworthy features, which included Colorado Fuel, rose from 'A to almost ft iwrints. United States Steel, whfeh.'rclaiucd its plaeo as a market guide, mani fested a backward tendency in tho early dealings, but later advanced to TO's, equalling Its recent high price. Transactions in the first hour ap proximated the lingo, total of 4.0, 000 shares, exceeding nil recent records; BANK TELLER IS A I SHY 20.000 CHICAGO, Kept. CI). -. Tames A. Patten, multi-millionniro and grain trader, announced today that ho would suhsuriiio to the Anglo-French Ion u. "I am convinced Hint tho suocoss of tho loan is essential to the muiii tcutiuco of a stable rate of exchange," said Mr. Fatten, "and this will en able exporters to handle grain upon a closer margin of profit and corre spondingly improve the prices pnid to our fanneiH. ARMED TODAY SAN FHANCISCO, Sept. 120. The Kev. Richard Fysh of Fresno and eight others, attorneys nnd laud agents, will bo arraigned here Satur day buforo Judge Maurice T. Dueling in the United States district enurt. Thoy aro charged with eoasp'irney fraudulently to induce clients to file claims on Oiegou timber land not open to hollloiuent. Approximately l!."i, 000 claims, were filed and foes aver aginc; about lfil each collected, it was alleged by the .Southern Pacific company, owner of the land. Nino other persons aro sought under a blank indictment obtnincd Inst week. WALLA WALLA, Wnsh., Sept. 2l; --Elmer Holman, .'10, teller in tho Fnnncnt' Savings bank here, has been found short in his accounts between $10,000 and $20,000. Whether ho will he prosecuted depends upon notion to be tnken by the board of directors late this afternoon, Hobnail's defalcations, it is snid, extend over sovornl years nnd wrro brought to light through tho Inst ex amination of tho bank by stale offic ials. He has turned over propcHy amounting to- more than half tho shortage, and stockholders of tho hank will make up tho balance Hol man is married and has a baby boy. It is paid ho ban been living far be yond ln's means and fliut realty in .vesliucnls have accounted for purt of his thefts. He bus not been arrested, but probubly will bo tonight. SUITS PRICE FOR EVERY AND FIGURE More New Suits Just Received 10 Sample Suits, one of a kind, new Fall styles, bought for one third less. You get the benefit. Suits Coats in mixtures and plain colors $12.50 to $35 . $15 to $25 DRE.SSEA' DRESSES Hy express today, i lot of Street a ml Afternoon Dresses. Some aro serges, others aro silk, and some aro the serge and silk combined at $12.50 to $25.00 j? Harvest Sale Continues All This Week Three Lots of Dress Goods go at 15c, 29c and 49c Corsets at 98c Jv'oyal AVom'ster Corsets, rang ing in price up to 1.50, mostany size, made of good coutil with elastic hose supporters. Your Choice 5c yd. An odd Jot of Cotton J'oroalua, Prints, Ginghams, Outings and the like, worth to 10c and 15o, Vtivy good for comfort covering. JAPANESE KIMONOS Jioth embroidered and plain, all sizes, at .1.30 to $2.50 School Handkerc'fs 10c dozen Limit of 1 do,, to each customer, in a good quality lawn, trimmed with colored edges, especially good for children. Crashes 19c Piece Two to three yards in each loiufth of odd pieces, somo plain, othQrs stripe, suitable for dish towoling and sold in the regular way at 10c to liic vard. THE MAY CO. Hcmstitc'd PiIIowCascsl2 V2C Hemstitched Sheets . 49c Made of good quality muslin, both in sheets and cases to match, onlv 10 do, each in tho lot. Bed Spreads $1.69 Your choice of cut eornors or plain, in a good, largo si.c spread, sold at $2.00 and a good ono at that; somo also aro fringed. SWEET-GRASS BASKETS Just received, our full and Xmus stock of these popular baskets.