Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (June 9, 1932)
p:ge two TO New System 'Contains Fea - tures Similar to Federa Reserve of United States Huge Sum Is Pledged By Morrli J. Harris SHANGHAI (AP) Hoping that In unity there It strength, 39 "foreign style" Chlu.se banks here hive form' a joint reserve board. It u aimed at averting a repeti tion or the tense money situation that followed the outbreak of recent hostilities. The new system contain many features similar to the federal serve system of the United States, Pool Hug Assets The Joint reserve board, at Its name Implies, la custodian for a huge pool of assets deposited by the mem ber banks. Highly negotiable secur ities will be Issued against thla re- aerve fund. The plan thus serves a pair of pri mary functions. It provides mem bers with ready cash In time of stress and creates, furthermore, a aystem of secured notes which are expected gradually to displace the old "native ordera" as media of exchange, Under thla plan, member banks nave pledged for deposit asseta ag gregating 75,000,000 Bhanghal dollars, or about 17,500,000 In gold. These properties are all readily convertible into cash and Include Shanghai real estate, commodities for which there la ready demand, marketable stock and bonds, and gold coin. , Issue Big Currency : Notes and certificates up to TO per cent of the pool will be Issued In the following proportions: Joint reserve note, two-nrths; security certlfl' eatea, two-fifths: Joint treasury cer tlflcates. one-fifth. The Joint reserve notes will be In denominations ranging from 900 taelt (about 1107 gold) to 100,000 taels (about 133,800 gold), They will be payable In cash upon presentation to in board. Ll Ming, general manager of the cnemang industrial bank, it chair man of the board. Its manager la rarer tnu, wno la only 93 yeara old, He learned his business In the Nat ional city bank of New York. AT TAMPA. FIa(AP) Kddle riynn't prowess In the ring aa an amateur boner hea brought him many offers to turn pro, . But the youthful Tampa fighter telle them all "there'a nothing do ing." He prefer to continue his study of dentistry at Loyola unlver- any at new urieana and save hit chtnce for an Olymplo berth. OVERSSSLOANSBY BRITAIN ARE COSTLY WOKINO, England (AP) Over, aeaa lending by Oreat Britain ahould be "sifted and Ita destination exam ined." Sir A. M, Samuel, 'member of parliament, aald In a speech here. "In the past 90 yeara British sav ings have been lost In over-teas in vestment to the extent of between 8,000.000 and 130.000,000." he aald. "which would pay nearly half the national debt. MYSTERY FIRE TAKES LIFE OF ONE r Amtwtd Pttn Fktf r ' dm Mr. Ellitbeth Koeber, 78, (left) died two hourt after being fear fully burned in the Free Methodist church paraonag bttamtnt at Hlllsboro. Or. Her daughter. Rev. Nathalie Koeber, (right) found the elderly woman with clothing burned from her body and gag of loth and wood chlpt In her mouth. LITRE CHANGED PORTLAND, June tWAP) Little change la reflected In the market for dairy product. The decreaalng supply of butter u making lttelt felt In the local trade, but operators generally have been adverse to quot ing an advance through fear of cur tailing the demand. Prices appear ateady for print and cubes on the open market with demand at leaat normal. Butterfat la holding ateady. Market for egga contlnuea to re flect weakneaa with more or leaa shading of prices In the home terri tory. Outside interest are aald to be offering egga freely below the local price standards. Further lowering of chicken prices la shown In tpotar Weather conditions have been against melon prices here and re duction! In both cantaloupe and watermelons are announced. Prlcea continue weak In the atraw- berry market here with receipt liberal and demand a trifle aoggy. With gold dollara decreaalng. there more demand In that Una. Llveitock. PORTLAND, Jin (AP) Cattle. 50! ctlvea, ID: about steady. Hogs 700; iteady. Sheep and lamba, 500; ateady. Wall St. Report Block gal Averagea (Copyright, 1933. Standard Statistic Co.) June 8: Today Prev. day Week ago Year ago SO Indl's 39.9 .. 39.9 .. 97.9 ..101.9 30 Br" 148 14.1 14.4 71.4 30 Ct't 94.9 94.9 93.7 199.8 0 Total 39.9 99.9 89.8 loa.e Bond Hale Average (Copyright, 1632. standard Statistics Co.) June 8: 30 30 30 80 Indl's Rr' Ufa Total Today 653 83.8 74.0 81.0 Prev. day 8941 84 4 74.4 81.8 Week ago 84.8 48 9 71.8 88.3 Year ago 82 J 98 4 100.9 83.8 NSW YORK. June 8. (AP) The ttock market quickly ran out of buy. Ing power today, after a morning ral. ly oolnoldent with a squeeze of ahorta In Auburn, The list settled back during the afternoon. Numerous ad vances of 1 to 4 point were lost, and the close found aome leader a little tinder yesterdays' final low prices. The closing tone was ateady. Trans' action aggregated 1,100,000 sharee. Today'a closing prloe for 18 se lected stocks follow: American Can American T. 8s T. ,,... Anaconda . .....,.. Curtlaa Wright .... General Motors .., Int. T. s T. LA GRANDE, Ore., June 8. (API Emphasising the point that a need of Intelligent, well-educated leader ship In the world today makes chool more Important than ever, B. T. Irvine, Portland editor and member of th tut board of higher education, delivered the commeno merit here yesteixlay afternoon at the normal school. Portland Produce PORTLAND, June . (AP) Country meat telling price to retailers: Country-killed hoga beat butchers under 100 lb., 88Vic: ventre, bo to loo lbs., 811 a 7c: lambs. 7 c 8c: yearllnga. 8c: heavy ewee, 3 a 8c: canner cowa, 8c; bulla, 8Vi9c in. LIV POULTRY Net buying price: Heavy hens, colored, 4( lba. up, iigwi oo mediums, lonno: light, 8c; light broilers, 10 alio: colored rosters, over 3 lbs., 13 a 14c; old roosters, go; Dvtcke, Pekln. 19c. Butter, butterfat, eggs, onions, po tatoes, seed and new potatoea, atraw. berrlen, wool and hay quolatlona uncnangea. Porthnd Wheat PORTLAND, Or., June . (AP) ' Wheat luturea : Open High Low July .. .40 ti .89 i .49 ' Sept. ......... .40H .40 '4 .40 Dec. .8314 .83), .83 14 Cash wheat: Big Bend blueatem .... Soft white .........,., Weatern white -.- Hard winter ..... Close .49 V, 49H .93 (4 .83 .84 .93 .83 .93 .81 H Northern spring .., Western red . Oats No. 3 white. 838, Today'a car receipt: Wheat 38. Hour is, corn 8, Montgomery Ward Paramount Pub. Radio Southern Pao. 8. 6. of Cal. ....,. S. O. of N. J 81)4 4 81, I Hi 8V4 ie 33 4 Trail. Am. ...,............,.,.. 3', United Aircraft -................. 7?4 U. 8. Steel ...,..... 34 H Corpt. Truet Share 1.40 DELEGATE TOLD TO VOTE FOR HOOVER OREOON CITY, Or., June 9. (AP) One of Oregon'a delegate to the Republican national convention will Ignore the interpretation of the pri mary law and vote for nomination of Herbert Hoover for president In stead of Joseph I. France, who beat Hoover two to one In the presidential preference primary in Oregon. B. L, Meyers, delegate from Eagle Creek, waa Instructed last night by the Clackamaa county Republican central committee to vote for Hoo ver on the first ballot and on every ballot after that. Smashup Caused By Tire Blowout 6ALEM, June 8. (AP) One wo man and two men from Seattle were seriously hurt here late yesterday when a front tire of the automobile In which they were riding blew out. The car was thrown off the road and waa reported to have rolled over several tlmee. The accident occur red near Hubbard on the Pacific highway. The best clear Cedar Shingles. 83.00 per 1000. Regular 94.08 shingles. Medford Lumber Co. A FELT BASE Floor Coverings 12 Patterns to Choose From 22c a Running Foot 32c a Square Yard WHY PAY MORE? JOINS OPTIMISM IE Hlllah Temple ha Joined the Bhrln national demonstration of optimum In connection with the Shrine convention In Ban Francisco, July 38-37-38, It was announced yesterday by Potentate Oeorge R Chapman. Th 187 Shrine templea through out the United Statet are endeavor ing thl year to put 933,000,000 Into circulation by sending a large uni formed contingent of Shrlnera to the convention at th expense of the temples. It ha been ettlmated that If each of the 187 templea sent Ita full contingent, more than 938.000,- 000 would be placed Into circulation. potentate Chapman atld, "South- ern Oregon Bhrlners are joining with those of the nation In giving their full support to the Shrine's national demonstration of optimism. "The Shrine la an organization that haa good-fellowship, optimism ana clean run lor It tdeala. in time, of gloom and depression, an organization such a th Shrine can do It most effective work. "We deem It our duty this year to aid In cheering up the nation. and w of Hlllah Temple of south ern Oregon, are therefore straining every effort to see- that our territory 1 well represented when the trium phant banda and patrol of the templea of the nation are In friendly rivalry during the Shrine convention. ."Thl 1 9 year to play harder than ever, and we deem It our pa triotic duty to aea that our aouthern Oregon country la well represented." 1 To Survey Dam Site PORTLAND, Ore., June . (AP) R. H. Klpp, executive secretary of the Columbia Valley association, aald today he had received a telegram from United States Senator McNtry Indicating plan for a aurvey of the Warrendale dam alte on the Colum bia river were progressing. ALAN GOULD ISSOCUVTED PRESS SPORTS LPTOfl "Starting out In the spring time," saya Prof. Johnny Penal;, "too little attention la paid to the follow through by the average golfer. - "If the moat Important part of the swing. "How many do you tee following through beautifully on the practice awing, only to tighten up and make a mess of things aa soon a tfiey see that little white baU (taring them In the face) "The sooner that tense feeling la removed, the better will be the re sult.' Slice Tip W know of no tur cure for the old-fashioned and familiar slice but It's worth trying, a a possible anti dote, to close the faoe of the club rather sharply In addition to getting the left hand well turned over In gripping the shaft. With practice It can be deter mined rather eastly Just how much adjustment along these ltnet la ef fective. Travere Roost Farrell thinks Jerome D. Travcrf. all thlnga considered, has shown plenty of his old tklll In making a comeback aa a business man golfer. "Jerry waa In a pretty tough tpot when he paired up with me to play Burke and Saracen In his first big match," remarked Johnny. "The match waa played at bit home club, before hundreds of friends, and against competition Mat wat very hot that day. Also It waa a 38-hole affair, meaning physical atraln. "Travel la still hitting hi irons soundly and he la deadly around the greens. He never was or will be a long bitter, but he will hold hi own with most of them, despite bis long layoff from competition. He will Im prove when he get Into better phy sical condition. Th good golfer nowadays ha to be In ahape to play consistently with the leaders." Meat Eater It may or may not prove any thing but Burgoo King, John I. Day discloses In the New York Presa, won the Derby and Preakness on a diet of fish livers and not anything re sembling the conooctlon from which the Bradley thoroughbred get It name. The Bradley liable ha consult Ing dietitian, aa well a an oculist, It teems, and th diet of "cat feed" for the King we prescribed after a conaultatlon. "No one ever heard of a horse be ing fed anything In the meat line," remarka Day, "but Just as he waa willing to put spectacles on horses with defective vision, Col. Bradley ordered Burgoo King ahould have his liver." New Wonderful Face Powder Prevents Large Pores Stays on Longer For a youthful complexion, use new wonderful MELLO-OLO Faoe Powder. Hides tiny lines, wrinkle and pores. New French process makes It spread more smoothly and stay on longer. No more thlny noses. Purest face powder known. Prevents large pores. As:: today for new, wonderful face powder, MELLO-OLO, that suits every complexion. Jarmln & Woods Drug Store. Elf Hit's a gffeatt att ttUaese NEW You can count six layers of fabric here, but the first two under the tread in this tire, (or in any to-called "six-ply" tire built this way) do not run from bead to bead. Some tire-makers count thcte at "plies," but they are really "breaker strips," to we call tbcm that Believe it or not, you can buy tires which proudly wear the name Goodyear for the prices published here. Right when Goodyear is building the best tires that ever came from the world's largest tire factory prices are down to the lowest levels of all time. That's great news to the millions of people like yourself who know the quality of Goodyear Path finders from happy ex perience. It's great news to every one who wants more tire for his money than he ever bought before. Look at these prices and remember that they buy big, husky, handsome Supertwist Balloons real Pathfinders in value, built by Goodyear pro cesses, with Goodyear craftsmanship and mea suring up to Goodyear standards in every way. Check your present tires carefully it's a great opportunity to replace old, tread-bare tires at prices so low that you can afford new rubber all around. 29X4.40-3I 49 3 Bat-h la pair Price fter t4(a lot l tin 9 29x4.50-20 1 Bach lo pain Price net , stasis tire J 30x4.50-21 'TP TJ cii - la pain rieefer 85 28x4.75-19 50 '4? eh pain Price frtf t4 iali art 4 28x5.2518 39 5 Kirk ID peUfl ex noU tin GOODYEAR SPEEDWAY 29 x 5.QO-I9 72 4 F.fh In pain PHt,"" A iloale bre a 31 x 5.25-21 82 5i I.ch Prictper tCfS WOf tt or 3 30 X 5.00-20 80 45 Each Pain uvle urt '4 30x3J-Reg.CL 30 '3; Bark d pan Pric. per ucLglf) lira j BUILT WITH SUPERTWIST Size 29 x 4.40-21 Size 29 x 4.50-20 Size 30 x 4.50-21 Size 28 x 4.75-19 ' culvnnivr CHEVROLET FORD FORD CHEVROLET CHEVROLET CHEVROLET PLYMOUTH 415 'g1.? '57 Inpair. tV In prt . 8JV fa ptir, In pair. ?ric ,479 7 . 5 Pric. -4J price per angle nr. ) per tingle tir J per tingle dre per tingle tire Size 29 X 5.00-19 Size 30 X 5.00-20 Size 28 X 5.25-18 Size 31 x 5.25-21 CHRYSLER DODGE ESSEX CHRYSLER BUICK nonr.P NASH NASH BUICK NASH 'd)l5 i lop"" fcP"" U In pur, U In pair. Price aVV5 Price A75 Pric (re) Price . per tingle tire V per tingle tire V pet tingle tire per single tire 8 Size-29 X 5.50-19 Size-3106:100,"H3 Size-S1X6.5019HD Size-30 x 3W Reg. a mnrk- nor-. J s,5 f"11 Pli"i . I Si full plies. 3ri BUICK DODGE m4tu'ir.i nJn. "trJ,ur," FORn-Mnnn t DURANT AUBURN CHRYSLER FRANKLIN NASH REO HUPMOBILE - In P In peirt in p,in la In pair, per 84 Iperaetire'lOlperetire'l per tire M' TUXE IN on the Goodyear Program every Wednesday night over N. B. C Red Network, WEAF and Associated Stations BUY NOW SAVE THE TAX Medfo&fd Service Station "YOUR TIRE SHOP"-C. C. Furna$, Proprietor 1& Mam and Pacific Highway Phone 14 PACIFIC COAST MANUFACTURED ON THE
