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About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (Sept. 22, 1937)
rEDFO'RD fATL TTtTBUyTE, frrEDFORD, QBEGOy, "WEDNESDAY, SEPTEMBER 22. 1937 STREAM OF GOLD FLOWING TO U. S. MONTGOMERY WARD" DOWN COMES THE PRICE OF FROM JAP STORE (B(Bp COMFORT DURING WARDS Unfavorable Nippon Trade Balance Compels Export of Yellow Metal U. S. Holding Now at Record PAGE SIX WASHINOTON. Sept. 32. (AP) Ths tressury. finding (ewer sellers of gold In Europe, la receiving steady etream of the yellow metal from Japan, Officiate ald today the Japanese exnorta may be due In part to arm ment and other buying for the un declared war In China. Although aaylng It cannot be aaeer talned definitely what Japan la do ing with the proceeds of her gold aalei, theee authorltlea aald a part probably ! going for purchases In the United States and the remainder. converted Into starling or other our renclee, for buying In Europe. Must Export Japan now baa an unfavorable trade balance, necessitating export of gold. In addition, It has announced the. metal will be shipped whenever necessary to maintain the stability of the yen. Since July 1, the treasury has been buying gold at the rate of about " ,400.000 a day, compared with 6.' (00,000 dally during the first half of thla year and 14,700,000 a day during the 13-month fiscal period which ended June 80. ' Of the 31)0,000,000 In gold which has flowed Into treasury vaults since July 1, almost $100,000,000 haa come from Japan. Since the Japanese ex ports to thla country started In March, about 180,000,000 of the metal haa been ahlpped across the Pacific. V. S. Store At Peak Officials aald the falling off In total gold Imports haa resulted from de creased shipments from Europe where they asserted "hoarded" stocks have declined sharply. The federal reserve board estimated that leas than 1900,000,000 of gold now la boarded In London, compared with two or three times that sum Sn the depression years. The treasury's gold stocks stand at 1J. 809,000,000. a record peak. DEATH FOR FISH PORTLAND, Sept. 33 (Tl Stream purification advocates got unexpected results in an experiment here yester day designed to determine the effect of sewage on fish lite In the Willam ette river. Twenty tlngerllng salmon and 10 larger trout auccumbed within 10 minutes after being submerged in the river near sewer outlets. William L. Plnley, Oregon natural ist, said no salmon or trout oould live going through that section of the river between Swan Islsnd and Sellwood, where pollution Is worst, and pointed to the effect on salmon runs. Prank M. Franclecovlch of Astoria, president of the state senate, re marked the fish hsd as much chance for survival "In a frying pan or on dry land," as In the river. Or. David M. Charlton, bacteriolo gist, said the presence of sewer gns all over the river Indicated a heavy coating of sludge on the river bottom. FEDERAL FUNDS ILL PORTLAND. Sept. 33. P) James E. Sheridan of Detroit, executive see retary of the American Title aiuwcla tlon, predicted a sharp decrease In the use of federal funds to permit the return of private capital to the mortgage field. He addressed a Joint meeting of tne Oregon and Washington Title as sociations here Tuesday. Asserting that mortgage funds, like wster, will seek their own level, ho ssld the public should take the op portunity to obtain home loans be fore Interest rates go up. TWO NEW POLIO CASES REPORTED DURING WEEK PORTLAND. Sept. 23. (API Two new casea or tnrantlle paralysis, one In Multnomah county and the other In Hood River, csme to the attention of, the state board of health In Its report for me week ending Septem ber 18. Tuherculosla led the list of com municable diseases with 33 new cases. Physicians reported 10 cases of scar let fever, 13 pneumonia. 13 chicken pox, 11 whooping cough and 10 In-fluenra. NEUTRALITY IN CHINA CRITICIZED BY DR. K00 PORTLAND. 8pt. 33. ? Dr. T. Z. Koo. 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