MKTWORl) t AU TK'lWTm, SIEDVOm), OT.'WiOX, TUKSDAY. I)K('KMIKK 1f)20,
MARKETING
ACT CHIEF
Eight-Year Battle for Relief
Answered By Congress
V Adjustment of Production
And Efficient Marketing
To Be Fostered By Farm
Board Fifty Million
Loaned.
lly Flunk I. WVllor
(Farm Killtor AHSociutprt I'icih
Foatui'fl Hervlce)
WASHINGTON Pj Pawillga :if
the riBrlriillinul marketing 111.!,
tlm answer of cnnKrH to an elKlit
ytmr luittlr for "farm relli-f,' h
rc-Kuriled by nv, -rlruliure
aw tii
outstanding event
of tbe luNt year.
I'nder ft. the
pre.nident has
erented n federal
farm board wi:.ii
Alexander I.en,j,.,
former munufti,:
turer o f farm
n.o-lllnn.-.. nt I-
I bond. Ita
members, repr't
Hentlnu tho ma
il lor farm coni-
f hank i. wtLLtK module, are
plodded to effeel
A belter adjustment of produc
tion to demand anil n more. I'ffic
Ipnt xyMi'm nf marnetlnit.
Ho far It hn et up a $10a.
000,000 national marketing organ
lznlion for K.ain, a tl.ooo.olia ,
ftKency for llvestoek. and a na; j
lonal murkptlnc concern of tbel
name capitalization for wool and
mobalr.
Cotton Aided
It hna approved n loan o;
from 13,000,000 to $20,000,000
for tbc American Cotlon Cirower.-,'
oxalianRt and advanced funds -n
Hinaller loans for farm Industrie
ratiKliiK In type from need iiKsoeln-,
tlons to Florid" citrus poopera liven
nnd California raisin cooperative.!.
It has used approximately $."0,
000,0(10 of the orlKlnal $ 1 r,(l,n(l'i, -1
000 appropriated from the author-1
ized irvnlvlnii fund of $rino,onn.. i
000. I
It Is Ihe theory of the federal
Inans Hint Ihey ore to help 1 1 1 I
fnrmer hlp himself and that thay
''" are tu bp .paid tmelc with Interest.
WI1II0 hU'chs is hild upon Hie ef
fective oruanlzation of cooperative
marketing assnclatlonH as a means
Uf Improvlni.' farm coiidlllons, On
Id contemplates a program om
liraeliiB all major economic factors
IIuai materially Infliiciice farm in
Vihies.
Ornuee Sympathy
' To this proitram Secretary Hyd
(in px-offlcio member of Hie farm
fionid, tins correlated every aitency
li' the department of olericulture. !
nnd liehlnd this union of the twoj
novernmental forces stands th-1
tirofti' ymp' hy and cooperation of
)tp National (IraniiO nnd the
"Anierlcon Farm llureall federation
ithe farmer's own oritanUailons
Slhroimll which he MruitRled for;
farm relief IcKlslatlon. j
j-' Willi ORrlculture thus drawlm:
yut of 1!!' Ms first promise of nn-j
jilonnl unity and ! first iirnRrninj
f concerted effort. It looks back
Jin a year of total Income that will
Winiil. If It does not exceed, that,
of the preceding year. t
Tho nuKrcKaie urass income .
'from r.Rrleultural production f.'i'l
the crop season lOL'S-'SO Is "stl-
mated at $ 1 2,f27.00.000, or about j
$220,000,000 more than that of tho
year 1027-'2R seimnn.
Income Iiicrca4il
Cash Income from the sale of
form products Is estimated to have
totaled $0, 041). 000,000, or an In
crease of $70,000,000 over the cor-responding-
flume of a year aso.
The net Income of farmers,
however, was only about $lii.oofl.-
000 Kiealcr, with the relurn earn
ed on the current valuation of 11K
rlrtiltural properly about the same
4 7 per cent. '
lliisher prices for livestock and
livestock products were the prin
cipal cause of Improvement.
Interpretlnit 102-'2! cnndlllons
os evidenced of continued urudual
lmprovemenl In t.llrlrullure, Siy"
retary Hyde says farm Incomes
nveraijed hiher last year than for
nny season since 1920-'21 except
J!l2S-'20.
Slayliuc on Farm
1 Tho movement of population
.from the farm declined, and rote
of depreciation In farm land vain-8
declined, Forced sales and related
defnulls In connection with form
land decreased. Estimated at $3S.
05,000.000, the current value of
OKrlcullural real esla'e and !''
,-jrati.il property is nei rly $ 100.000..
i,Xn lt,m IiikI vear.
I '
VWhile the huso were so even.y
.'distributed that no Unite area had.
ellher a very bountiful or ve v i
short crop, the widespread diouiH 1 I
nf Hie 1U29 iirnwlinc season dried I
tin nnsinres and reduced crop!
yields below those of nny recent
itnr- I
; Klllllellt Held rnr Dentil
rnllTI,AM. ie., Dec. 31. (rTl
nnymoml Tomfi.hr. 1". htitli school
'Ktlldent was held wllhoul bail to-
day following nn aiiinnitiblle nicl
deni lasi nlitht In which Frank
A. Ilnssell, 71. proprietor of a null-
'lirhnn hardwnro storo was killed.
Ii KIIJ becomes the nrlalnntlns
point for the first of the IS weck-
.ly Pacific tf. Ailantlc trnnsconu
fhlal iitOdH.ms on Ihe fits chain.
The broadcasts originate from Hi"
7-a-M studios.
A M BOOM
wmm
Copco Completes Power Line
:
Ml
One r Hie Iiiibc loners 1111 the intv llonvlle-orlli Itciul
liail-llllsslon line llimplelcil or-m.r , 1 1). Tills lieu line which
Is 115 miles Ions, counci ls Hie copco system tvlllt ill.- t'nos Hay
Nt'uili plain or the .Miiliiilain Slates I'oui r Company anil Is ex
pected to Iiimiiii' coiillnuous anil ilcsnilalile service In llils tcrrl
tory lliroiiKh a dual sourci nf h wer supply.
News Notes of Pomona and
Subordinate Grange Chapters
Given by Official Reporters
4 4
(For January, IU30)
Talent, Thursday, Jan. 2, K
p. nr.
Central Point, Friday, Jan. 3.
H p. m,
Sa ins Va 1 ley. Sat unlay, .1 a n.
4, K:H(i p. in.
Live Oaks, Monday, January
t!, H p. in.
Kngle point, Tuesday, Jan. 7.
H p. m.
Jacksonville, Thursday, Jan.
0. H p. m.
Luke Creek, Thursday, Jan. !),
K,3tl p. m.
Kniei prl.-te. Satitrdny, Jan. 11.
, 10 a. in.
Talent, Tlntrsdiiy, Jan. HI. X
p. in, ... , .
Central Point, Friday, Jan. 17
H p. m.
Sams Vnlley, Saturday.1 Jan.
IH, Ki.'in p. in,
IJve Oaks, Momlay, Jan, 20,
S p. m.
lOagle I'oint. Tuesday, Jan.
1, tt p. in.
Jacksonville, Thursday, Jan.
X p. in.
hake Creek, 'fflursday, Jan.
2,1. H:3) p. m.
Pomona; Sams Vultcy, Satur
day, Jan. 2E, I o a. in,
Pomona: 10 veiling ncsslon for
V
:
i
:!
i
degree. Sams Valley, Sat
urday, Jan. 25, 8 p. in.
Special Notice
Dedication of Kagle Point
Gr-inge hall by State Mas-
ler Geo. A. Pnlmiter, Tues-
day, January 7, K p. in.
Pegular session.
Detlieatitm of Frultdate hall.
Josephine county, liy State
Master Geo. A. Pnlmiter,
January I, afternoon.
State Grange Master Geo. A.
Palmiicr will b. in south
ern Oregon from January I
' for idle week.
GrimR;' Xotlo
hi essentials, unity;
lu non-essentials, liberty;
In all things, charity.
1 1
i
i
i
A New dear's Greeting
Today sees the passing of the
year of lliH. Tomorrow we greet
the New Year, lDHu. Without u
doubt thousands of good resotu
tlons will be made by Individuals
lor the New Year. Without a
doubt, tunny of these resolutions,
made in good faith, will he broken
before the year It'Hil has run its
course. Nevertheless, t tie making
of a good resntutii.H proves that we
recognli'.e our mistakes and have
an earnest desire to do better, and
on that principle all tlx good In
l he world is iiccompllshcd. On
that principle depends all progress
In every line. To recognize our
mistakes and to have a dexlre to
do belter.
To be rontcnt with the world as
It Is. to be content with ourselves
as wo are, to be content wtih Pie
work our Grange has done lu the
past, Is to be in a stagnated con
dition of mind. Such a condition
of ndnd means that we will go
backward instead of forward for
nature has ordained that nothing
stands atill. tf we do not go for
ward we will certainly go back
ward. And ns we wish everyone n
Happy and a Pnwpeius New Year
we must also ndd, we wish -'tu
n Pseful Year, Tor happiness and
prosperity comes through useful
ness.
We believe prosperity means the
ncifiilrlng of those things to which
we ntlaeh the greatest value. If
we believe our greatest happiness
ItcK in acquiring dollars nnd cents,
then in thai way will prosperity lie
for us. Ittil people who have real
ly lived nnd have run the whole
gamut of emotions know that tt
taken more than dollars and cents
to bring real happiness.
Do we value knowledge? Then
the ncquliliitf of knowledge Is the
gaining of riches, and these riches
are far more stable than dollars
and cents, for no man can take
them from us. These are riches
that we can share with our fellow
men anil still increase our own
supply.
Do we love our fellow men ?
Then may we have that happiness
which eoines from doing for those
we love.
And though llie new year Is be
fore us ami we may make much of
It, yet we cannot reasonably expect
to have all things. Choose we
must, and as we choose, let us
cIioohc only the best In friends,
in bonks, in recreation. In every
thing." And. dear Grangers, as we make
our plans for llKUuyuUhK year, let
us remember that -our Grange is
founded on the 'loftiest' airs that
man can seek; that in morality,
we seek the highest standard; that
honesty Is Inculcated, education
nurl u red, temperance supported,
brotherly love encouraged and
charity made an essential charac
teristic." Our own mistakes are many, so
we should strive to be patient with
what we consider tho mistaken of
others, for ft may be possible that
we are the ones who do not see
things aright.
And so let us hope for a year of
true co-operation In all things for
the good of our fellow members,
nnd 'Let ua work with all other
orders or associations which seek
t-. promote human welfare, and
Nirivc with them, for the good of
r fellow-beings."
Would be true, for there are
those w;io trust me;
would be pure, for there are
those who care;
would be strong, for thero In
much to suffer;
I won bl he brave, for there is
much to dare.
I would be friend to all the foe,
the friendless;
I would be giving ami forget the
Kift.
I would be humble, for 1 know my
wen kness;
I would look up and IuukIi and
love and lift."
I-:agle Point Grange
Knglc Point Grange will hold Its
next regular meeting on Tuesday,
January 7, at ft p. m.
Slate Master Geo. A. Pnlmiter
will be with us at tnis meeting
to dedicate our new hall and all
the Grange is looking forward to
this occasion ami also to meeting
I trot her Palm iter whose sincerity
ami earnestness leave u lasting im
pression on all who know him.
His loyalty to the Grange and his
leli-saci'ificing work have built up
the Grange In Oregon pust the
greatest expectations of tnose who
placed htm at the hiid of this
great order eleven years ago.
Kvery Grander will want to hear
Pi other Pa I ui iter, for his earnest
m s and loyalty are Invariably
transmitted to his hearers, and
coining, as he does, at the very be
ginning of the New Year, should
give an added Impetus to Grange
work Tor t.ie year, and should in
spire in us a desire to conform
more closely to Grange principles;
to study more closely Granite aims;
and to co-operate in whatever
work the Grange feels Is for the
best Inleiosts of its members.
It Is Just two years ago that
P. rot her Pnlmiter visited o u r
Grange last and It Is a very
strange coincidence that at the
nine of bis last visit be dedicated
our Im .uuifnl Grange hall which
was destroyed by Hie List Fein u-
my.
.Mid so ihe hWtory of our own
little Grange proves the old saying
that "We can rise again on Ihe
ashes of the past." In Rolng over
Ihe lo.is of our flout hall, our first
home in which we took such pride,
and for which our mrnibem lutcii
lieed themselves so niui-h.
Since I hen we have denied away
tho ashes, iV'lnforced Ihe fotindtt-
tlon 11 ml hulll another hull to tuke
tho placH of th fhxt oik, and we
mt now, In Ipkh than one year'
tlin. rcudy to dt-clh-alt tliin hull to
the (Ir.iiiKe. All of which goo to
show u Keat love for our own
local organization and u Rieut
loyalty and faith in the order of
the 1'atronn o fHuHbandry.
lit oiiiK over the past yeur'K
work w are uIko renilnd(d ho
forcibly of the kindly Kplrit of co
oMiati(n of the frtendn of the
ChanK) In our own local communi
ty and throughout Jackson county.
Had It not been for the uMslntancc
of thewe friendH we know that we
would n"t now have another hall
ready to dedicate at thin time. For
all of thCHe hN-HKliiK we feel very
thankful and we truly hope that
our (JianKO will prove Huch a
hli'K.sine to the cominunlty, to the
county and to humanity In general
that thexc kindly friendH will feel
more than repaid.
hct our Orange hall he filled to
capacity oh Tuesday night, Janu
ary 7.
All fi rangers are Invited and are
alwaya cordially welcome.
Honoring J, S, Km-nrer
An Jn for imil reception woh held
in the Kngle J'oint fl range hall to
honor "Jim" Spencer, who Ih
Hpcmling the holidays in' JackHon
county. Mr. Silencer wak formerly
manager of the JCnglo Point Irriga
tion Ditch Co., and white he resid
ed in Kngle Point was a highly
esteemed member of the lCngle
: Point flrange.
The fl range owes to Mr. Spencer
I the planning of the old Grunge
nan mat waa uesiroyea oy lire a
year ago. lie also nupervied most
of the construction of the building
and painted the beautiful scene of
Table Hock and the Itogue Jtiver
valley which adorned the stage as
a background. Many other items
of his artistic ability in the finish
ing and adorning of our past
(range hall are remembered by
the members, with whom ho Is a
great favorite.
Mr. Silencer Is .Mill a member of
our Grunge although he has been
absent for a year and a half his
devotion to the Grange is shown In
the fact that he Is spending much
or his vacation at Kagle . J'oint
where he h again painting a back
ground for the Ktaeg of the new
ha II. Words ca nnot ex press t he
appreciation of the Grange for this
service which Mr. Spencer has ren
dered gratis, because of his love
for an appreciation of the Kagle
Point Grange.
The evening was spent in sing
ing sfings and giving informal
readings. The master of the
Grange presented .Mr. Spencer with
a Schaeffer fountain an a token
.f appreciation from the Grange
for his kindly service as well an a
token of kindly regard.
Mr. Silencer leaves this week for
Pendleton where he fs at present
employed on the l.'matilla Irriga
tion project.
1.kc Crock Gnuigo.
hake Creek Grange held Its
regular meeting on Thursday even
ing, Decern her 2)1, with the new
master, Heed Charley, in the chair,
A lew ot the new officers wra
absent, the following member sub.
stltutiug: .
Lecturer, Floyd Charley; assist
ant sieward, Koren Faiiow; secre
tary, It, -th Farluw; gate keeper,
Haphael Gardener; pianist, -Fern
i' ailow.
The principal business was n
lengthy discussion on the new hall.
Tile Grange voted lu accept the
site H.Miired by tho hull comnilt-
! tee and to erect a building
! icet tall by 72 lert.
The location in to he opposite
the Iike Creak store and imh far
distant from the Ijiko Creek
dance hall. The hall committee
will secure various plans and sub
mit them to the Grange for Its
approval on Interior details.
At the next regular meeting to
be held at Heed Charley s place
on January !i, a plan for financ
ing the hall will be adopted. It
Is Important that nil members he
present as all should have a vole
In the making uf this decision.
, The following committees for
I the new year were appointed by
Uie master:
Finance, Julia S:db y. llei man
Meyer, Myrtle Charley.
Hellef: Mable Hrown, Augusta
Seelield. Hill Almy.
Agricultural: F I o y d Charley.
Km ma Messal, Mike llanley, Jr.
Legislative; luth Faiiow, Ray
mond Hngsdale, Claim Charley.
Ways and Means: Tom Far
low, Charlie Terrlll, Frank Ny
g ren.
Publicity; P.elh Fallow.
Home economira; Mary Han
ley. Helen Sidley. Kdith Jones.
Heat rlee Gardenei', Nora Hrad
shaw. Candidates: Mary Moore, Alnvi
Meyer. Melvln Wright.
Marketing: Huss Moore. Floyd
Charley, 1 ler man Meyer, Jr.
Pianist : Mary Charley.
For various reasons, none ol
the numbers planned by the new
lecturer wire responded to. Tho
Grange is always ready with
emergency entertainment, how
ever, so persuaded Donna Hrown
and Gwendolyn Charley to give
readings which were greatly en
joyed by nil present.
Past Master Floyd Charley sug
gested, for the good of the order,
that the new officers read the
advice of Worthy State Master
( Iroree A. Pa lm iter, regarding
their n w work.
The following people have re
cently contributed to "the little
apron fund:" Mr. and Mrs. Ted
Sims. Mr. and Mrs. Charles W.
I tea mes, William Gore and family.
Mr. and Mrs. Hoy Grtgshy, Mrs.
Donna Hell Goodwin and Mr. and
Mm. lloyt Smith.
The (Lac.,. - greatly appreciates
till contribution which have been
made,
Vntral point (irnngo.
The Ccntrnt Point Grange will
hold their regular meeting Fri
day evening. January 3, nnd urges
all members possible to attend, ft
thrre will be very Important busi
ness come before the meeting. It
Ik nlsn reported that the worthy
stale master will be present that
evening and tlue who have not
had Ihe privileges of meeting him
should lake tho importunity n
he will have itomethlng worth
while In. Hlore for all. J'leuse at
tend by request of John A. Ander
won, uuiHter.
fltvkoiiviJIc (imtiut. -A
Khort, hut IntereHiliiK meet -!
Inir wmh held by the JnckHonvllle '
(Grange Thurtiday evening. The
iiieeling oiened promptly with a!- j
niont all new offlceiH present. J
New offlerH, taking the chair 1
were. Ted HIiiik, master; t?heHtcr
Wendt. overseer; Mrs. Muhle. Hlms,
lecturer: Justin Judy, steward:
Kuiuia Conner, lady assistant stew
ard: Henrae Sander, secretury:
fieorse Wendt. treasurer:
lh Hi
Thurston, gate keeper; Mrs? Coke,
Ceres; Huth Severance, Flora; Cal-
lie Sanden, Pomona.
Chester Wendt, overseer. Justin
J u d y. nte wa rd . we re I nst a lied by
John Neldermeyer. past master.
A clear ballot was cast for Er
nest Helling to become u member
of the Jacksonville Grange.
A special meeting was called by
the master for Monday, January
G, at 8 p. m. All members should
be present as the State Mffder,
George A. Pnlmiter, will Jn? pres
ent at that time. Ho will have
a message of Interest to all
Orn ngers and every one should
take this opportunity of hearing
him, A covered dish luncheon
will he served.
. C. D. Tompson, professor of
agriculture of the Med ford high
school, announced that his night
school would open January 7 at
seven o'clock. Important facts on
dairying will be studied during
this session and all Interested in
that subject would do well to at
tend. The school is free.
The following committees were
appoint m1 to carry on the pro
gram for the ensuing year:
Marketing Chester Wendt, J. D.
Hrown, Ted Sims.
Home Kconomlcs Mm. Iangley.
Mm. Severence, Anna Wendt.
. Ways and Means Henry Con
ger, Huth Severance, Charles Hoo
ver. Itellef Initio HoWlliail. Dr. For
bes. Klsie Hoover.
Candidate John Neldernuyer.
Peter Fick, O. K. Simmens.
legislative Geo. Flsk. C. D.
Tompson, Otto Xeidermeyer.
Kducntioti I.ulu Thurston. Nel
lie Niedernn yer. Mable Sims.
lieeeptlon Mrs. Sanden, Phil
Thurston. Maggie Howell.
l,-air George Wendt, Carl Xio
dermeyer. Justin Judy.
Agricultural Henry Nleder
meyer. Koy Martin. Joe Koenig.
Road Pert Conger, John Dar
by,1 W. W. Hartley.
The following program was pre
sented by the lecturer: Vocal
solo. Mm. Thurston; rending. "The
Night After Christmas," John Nie
dermeyer; talk on application of
electricity to farm and home life,
by llonrv Conger: readftig "Christ
mas," Chester Wendt; Christmas
song by Ileulah Hamlin; recitation,
by tiu nice l-unden: baritone horn
solo by George Wendt: commu
nity songs, led by Mrs. Severance
f At the dose of the meeting pop
orn balls were served with th
foinpllmentH of Mr. and Mrs
Theodine Sims. '
RL'SIIVIM.K, Iml-i Doc. 31. UP)
I'liHinli-ni una lysis of U"' lJ'
if Mrs. MubkIo KIkkIwi Kolb, re
cently exhumed, showed dentil was
caused by poison. aci-ordlliK to re
ports received from Indianapolis
today. She was the second wife
of (ieorue Kolb. u farmer near
here. At the time of her death,
Anril -X. Ill-, heart disease was
ascribed as the cause. lOxhumatlon
was ordered as a result of an in
vestigation Into the sudden death
In October tnls year of IMnn Hau
ler Kolb, third wife who uccorilhiK
to u recent verdict of the roumy
coroner died of pedson.
Meanwhile, Kolb Is In n local
hospital recoveriliK from poison
apparently self-admlnlsiereil last
week.
DEAD BY OWN RIFLE
r.OHKtilMKI, Ore.. Pec. 31. (fl1!
I'M Ware, 32, prominent farmer,
livillK near ltoseburn, was dead
today, as the victim of his own
rifle.
Ware was carrying a rifle when
ho went to net his automobile left
at the home of A. 1. t'askey. t'as
key said he talked with Ware a
few moments and later heard the
report of it rifle. It Is believed
the rifle dlsrlmrKod accidentally.
Rialto Will Show
Untamed Tomorrow
A fight in a bullroom Is one of
tho novelties of "Cntamed." the
ne w J oa n Cra w ford all-talking
vehicle which comes to the Kox
Uialto theater tomorrow.
Contrary to general custom,
when Hubert Montgomery and Don
Terry tirgue over Joan Crawford,
they do not go "outside" to com
plete the disrusslon. Curtain cords
rre dragged down to make a ring,
nnd talr young female seconds mi
evening clothes fan the battlers
between rounds with their o n
dress shirts.
The buttle between the two play
ers hns decided reality, because
both players tire boxers of experi
ence. Ion Terry, a.1 liohhte Pins
more, won the light hevyweiuh:
championship of Kngland In
Montgomery had ft fight In his
last mage play, "PoMOMion."
"Caey" Jnno. Oliver of a clean
er's truck, diivea Tniversity of
Missouri co-ed toenrly mornhw
e lasses.
FARM WIFE DIED
FROM POISONING
STOCK SAG
FEATURE OF
Rising Tide of Security
i Prices Halted In October!
By Worst Break In His-
j tory of Market Major
Industries Continued
! Progress Man Mergers
' Consummated,
liy Stanley W IVenosil
(Associated Press Financial
Editor)
NKW YORK () Collapse of
the bull movement in stock piiee:i
wns the outstanding financial de
velopment of tho year.
The rising tide
of prices came to
a dramatic halt
In October in the
most extensive
and destructive
period of liquida
tion in Wall
streets history.
I'riccs of stocks
on nil the ex
changes and un
listed markets of
the country
plunged d o w n
ward so rapidly
that only a .small
part of the 1f.
000,0110 or 20.fwo.fMMl security
holders escaped without some de
preciation in the value of their
holdings.
Thousands of margin specult
tors were wiped out.
In some quarters it was felt thnt
the reduced purchasing power of
the millions who had taken either
actual or paper losses in the mar
ket certainly would be felt.
lEcIensvxl Credit
In others there was a feeling
that the large volume of credit
released from speculative channels
would bo made, available for busi
ness and agricultural expansion.
Conf Ib'ting opinions developed in
banking and business circles as to
the ultimate effect of the securi
ties decline on general business.
Signs of recession had begun to
appear In certain industries before
the break, notably in steel and
motors The building industry had
been plodding along for several
months under, the handicap of high
interest rales which made finani -trig
of new construction difficult.
PAST YEAR
In striking contrast to the post
war depression of 1!)21, there won
no heavy Inventories this year, ex
cept possibly In the automobile In-!
dustry: no inflation of commndi-!
ties and no unusually heavy bank
loans.
Business Artlvci
Maintenance of low Invent orles
with business .activity at high
levels was made possible largelv
through improved transportation
facilities.
Corporations generally were 'n
much better shnpe financially this
year, many of them having either
eliminated bank loans altogether
or reduced funded nnd other in
dehtednes.s through the retirement
of bond issues nnd the sale of ad
ditional common stock.
The steel industry, regarded in
many quarters as barometric of
business conditions, continued :i
record breaking levels in the
.spring nnd summer, but tapered
off In the closing months of the
year.
Oils Mako Progress
The oil industry made notable
progress in solving the troubles nf
overproduction. The Industry In
augurated regional curtailment
agreements nnd obtained the en
action of state laws to eliminate
waste.
Public utility development went
on nt a rapid rate, with seven J
important merger projects con
summated nnd others held up by
the break In security prices. The
announcement of several electrifi
cation projects by the Pennsylva
nia, lneka wanna nnd other ra;l
roads was made during the yen;.
Combines Seen
Mall order firms embarked on a
huge program of expansion into
the chain store field. Huge com
bines nbo were effected In the
food, steel, copper, oil nnd most of
the other leading Industries,
Uttle progress was made towarJ
the unification of the railroads,
pending publication of a revised
consolidation plan of the inter
state commerce commission. The
commission received several pc i
tions for the approval of merger,
particularly in the eastern terri
tory. The brenk In security prices aN.i
caused the abandonment or tem
porary postponement of many
financial plans. Including the mer
ger of the National City bank nnd
the Corn Kxehnnge Hank Trn-rt
company Into whM would have
been the largest bank In the world.
Ouoted values on the New York
stock exchange atone dropped
more than JKi.oort.OOO.OOO in Octo
her and probnhjy nq much mo:-e
in the first half of November, nl
t booth some recovery took pla"C
in the closing weeks of the year.
Many Hrnoim 11 can)
Apart from tho obvious fa-'t
that speculation In securities IviJ
been carried to excess, all sors
nf reasons were ndvanced for th
decline. One ma tor factor was th'
huee volume of undistributed ,e
cnritles. particularly of Investment
trus. that ha! overhung the
market nnd had been financrd. in
.1 lrge extent, through hrokrv
loflns,
Uncertainty over the proposed
new tariff, which failed ot pas- some bankers, although this w.'ii
Ke In the special session, was vigorously disputed by some sen
advanced as another reason by ntors. . . . .
I
iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiin
ii m I
Shades oi the Past
Good old times are 3 reliable guide to cteer by aim
straight, play c'raight and safe and you'll get to the port
of prosperity and comfort. That's how we intend to serve
you during the coming year, as in the past. Let's co-operate.
American Laundry
Maki
Make your business trip one of pleasure, too!
Relieve yourself of the tension of driving mile
after mile and enjoy the scenery along the
route. Arrive at your destination rested and
refreshed! Our frequent schedules enable
you to make a definite appointment at any
point and return when you wish. ,
PORTLAND TO
KLAMATH FALLS
AND WAY POINTS
Inquire of your local agent for
information regarding
optional routes
schedules.
and
OREGON STAGES SYSTEM -
Hotel Jackson 102 S. Central
' Phone 309
1" "JrWTW
O parking trouble exist at The Minx.
The doorman takes your car when you
arrive and places it in a garage connected with
the Hotel. Just hand him your key at you tear
the car that's all. Located in the heart of th
City near everything.
I 7 SewiccQtialityJIofpitaliitL.
qheMANX HOTEL
A SAN FRANCISCO
;e your
BUSINESS TRIP
a pleasure
mm
i
I II take
your, car,
J sir "