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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.