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About The Klamath news. (Klamath Falls, Or.) 1923-1942 | View Entire Issue (Nov. 1, 1925)
1 Patre Two Sunday. Kovoniltor 1. 19-"' INVES TOR MAY re enable SETTLE .1 him la Imam.' "'n-' ol iinUMiny Fidi CAPITAL UNLIKELY TO FAVOR PLAN jggg&ES OF FURNISHING MONEY FOR SCHEME , Jf ENTAILING SHARING RAIL PROFITS While Commissions Recommend and People Voice Opinions Both Pro and Con, Those Who Are to Furnish Money Appear Forgotten (From Oregon Voter) Arthur Curtiss James, scion of one of the foremost mercantile fam ine of New York and Liverpool, borers in the background of the Klamath Railroad case. His father. Daniel Willis James, was one of the assoc'aies of James J. Hill in the orgauuation of the Northern Securities Co. The eider mithiK Tm f Million UK in t.'K pa euro una ui alh hearing. Arthur i'urlis one eni typifies the pub lic interest. Llks the people ot ure ' gon aud the people of the Klamath basic. James deoircj such o!ullon , of the problem as ultimately would : i develcp the Klamath rountiy and the state of Oregon to the I. ! c h t : possible degree, for regardless o( i which one of his three railroads were benefited, his own benefits I would be greatest in proportion a ' the minimum of posaibile benefits ing the El Paso Southwestern rail- lo ln( Klamath country and the stole road, of which he was the principal a( Oregon would be attained, stock holder. I n this one man's, possession are Arizona ('upper and Minnesota I securities of these three railroads TimlxT ! aggregating from $30,000,000 to. Shortly before he passed away. STO.000.. 00 of n puted ri.lue. The the elder James interested a rail-."''"' ' ,h K","ln "J"' ' road man in his copper and trans- h ko ,n!lt as portation enterprise. He was Thorn- thaBtui. one investor , holdings as Milton Schumacher, who later be-' " the.r Interest would appear to .1 .. HH.I t.rlt.e ! I.i llm ItlVrslltr Wlllia ttr..t..tu i. . ' portallon , would iiui i" - ""-' ,,,, Y " oltst ... . ... i .rv m rill inn UIH'1';' " . . .. m- imtMiu be able to Invest nd.i-.iite capital. i.i Insure the U dete'.np- ,,-,-nt of that tcrrlto.v. but might U us to " " !v wcav'.ni III f'rimo-Odrll con. be unwilling. It m-h. Prefer to evt.nsU.. I. PPr ' - - invest it. capital -l.e.her. bcllev- j a, m.i..c- "' , " ' , w lg it would get . higher return 1 conslderahl- t.. ho that ' The Klamath lerrlter n not the, would bo .isllsl.l.' III largo uuanll .,' reeion of the West that can bo ' t ls to construct projoct. which ar. from railroad rtftioLm. The truutilo trrt.i. in nus runrunil ovaiem Is that capital do not seem ana- j Titniilla Into llm Tannic ne.tl.-a Into III Klamath ra.n, the : intervention of I lie Halo raise, a Ore,,,. ft.blll,, (disapproved by railroad managers irmi imn.i.r.1 liv tno UUOIIC. r.-!.r lo null l-'tuis as tlio.e re.iulr- railroad to turn a in developed by transportation A. agal nes. of one .ystem of million, essential to developing a region to which it ha-, been awarded .. .... l .... i .1... u-lllln. . Ina eciusive access. turn- . ...v , . ,..,, nes of competing sjnem. lo enter in1e..me, ,..,r ... -that region and proceed with drvel- feting Une. mi. -It a re...lrement I. opmcnt So Jus' a. amateur. involved In Ih. ..... comn.U.lon gel It straightened out In our minds plan that something In this complex sltua-1 Support. M l) a Nplrndlil fat riot tlou is certain, we are bcid by con-1 y ,( tn(1 lita Il(Ifrr ,y ho atatn tlictlng uncertainties The problem j (jf ,,rr.on (, ,upi,ried by no less a Is a real problem, an.l it wi.i require Ih( ,.,,.,,,, nnt tnr. po.siblllly i.f I ho Crano-ildell rasa I rumni..i' . being ciitisolldated Willi Ih Klauiuth I rasn by Iho Ihlerntato euninirrra ! a. mar , J imnmlolon. at lea.t In the nirtil It. or ...... mi... In unlikely to produce) an a.lrnuaio , it,.y , do. Ided la tm. ahi. i ... ".yltonit'i Invest tl. lew 'return, or di.apprt.vej because t.f ,,, , (h ulher. The Crane. , Hal. litleil caie na. iieen iinci.ivtl tenia- f What tlel- by Ksarolner Kepharl In a t . U5 rn it ui.-llitnlliin III tbd rum itila.l..M I i .11. a! a and that reetittnnen.latlon I. ttow ' !" V" V1"''' pending beloro lha rum mls.lon. ' " . N awaiting Ita actum. If Iho Klamath '. 1 "J" i when rase tk. Ita course. It may r.ach I ' n the comints.l.io before Iho Crano.; James was senior partner of Phelps. ,tIme president of the El I'aso South- be identical with his. Their Interest is not a partisan interest in behalf of any one of the three great rail road systems, but Is in the best pos sible solution of a vast development ; problem. Certainties Yield to t'nrcrtniiifli- Should the interstate commerce commission decide that the public of the reorganized Northern Parific. 1 0f Southern Pacific, withdrawing 'ntereata would best be served by the present company. His holdings (ron, tte r,reat Northern board. By ; Permitting; Southern Pacific o de were so large that he was one of the I lna transfer. Arthur Curtis. James, I TelP tne Klamath country, unli. in celebrated "fifteen men of advanced i only son of D. Willis James and Pered b having to share the result years" who in 1901 decided to pool i rilen Stebbins Curtiss James be-;ln traffic with competing systems. their ownership of Great Northern ! eame the largest Individual stock an should euch a decision lie vln and rtorlhern Pacific stock in Dodge 4b Co.. vast developers of cop-. per and railroad properties, and an associate of interests grouped around : the First National Bank of New j York and J. P. Morgan & Co. As an I owner of securities of the old North- j era Pacific he became one of the ' principal stockholders and a director western, as well as an officer of various copper and smelling com panies, and incidentally a director of Great Northern railroad, where . he represented the James holdings. Not long ago Southern Pacific ac- quired El Paso Southwestern, and 1 Schumacher was made vice president . real brains to reach a solution wlil.h time aud experience will Justify as assuring maximum d.-vclopmcnt. Whose- Key I Blocks tllf Door How ran .itch a saU-ractory sulu tion be brought about? The testimony liken at the big hearing served somewhat to clear; native slate, the atmosphere by bnnting out the' n.h',. acta. Yet, ao rar at auv.iii.fs oy me great contending parlies were con cerned, nothing was offered that ap- otic personality of our own Itober. A Hooth of Kug.ne. blmn.-lf Inter ested In limber holding, tn nery part of the state that I. directly or may remotely Ih) aflecled by deci sion of the case, and also interesti'd loyally In the development of hi. argo Interest., Ilk Jjuiiv." larger interests '"o I' Iden tical wlltl that of petple of OrrgJII. for the fullest measure of stale lie- sUn J It ll.lrll ca.o la disposed tit. The' 'filtl ilu J Klamnili cs.o . to be briefed and ; " "'d " C .4 argued, and then Iho reciitiimni'a' Hon as t Ha tllspo.ltlon will t rtiit.lt- tiv the r.iminla.titn reprearnia tlve who- heard lltn testimony Charl.s I). Mnhaffir. illrector finance. ' It Is entirely possible that, after conference with Iho commission. In. r oil or Mahatflo may draw up his recommendation Willi tine regard tn all the irtlimony and Issue, raised In Ihe Crnne-tldell ease end the re port of Kiamlner Kephart. - In aurh event. M.haffle'a ret onttnendalion Mahatfi. IbImJ rated p.rcis J well a. fiM,J run temasnat!, of . cholar at uuJ ana .fMclaiuaJ Jurliprmluf,. lurlspruilsttsu. (CliMbosfJ i holder of Southern Pacific. I dicaied by time. James would profit Largest the Northern Securities Co.. of which he was made vice president and di rector, James J. Hill being presi dent. The reason for the pool was a determination to protect northern lines from acquisition of the North era Pacific by the Union Pacific, which then controlled and managed deaths of James J me boninern racmc. Kali of Years ami Honor When the supreme court decided by Its vote of five to four that the project was in violation of the anti trust act. the securities company's holdings ot Great Northern and Northern Pacific stocks were divid ed pro rata among the stock non stockholder of Three- Kailrontls Arthur Curtiss James all through the years had held his father's orig ins! holdings of Ctrent Vnrthern nnii Northern Pacific stocks. Other larRe . the wisest solution holdings had been split up through Hill and others through his ownership of Southern Pacific stock. Likewise, the people of Klamath and of Oregon t.ould profit through attainment of nmx imnm development made possible On the other hand, should th ; commission dctde that the public interest would bvst be served by nd- nf tha mn (if liivoniiait raara" ta-rin trad more than one heir. 'The result! t1he """"" lines to the of all this Is that today Arthur Cur- i '"n-ath basin, and timo would viu- tiss James is said to be the largest 1 u "" '. " uin Greatl onuersuip oi sioi-K in ii mi cc taiiiu.iu iiiiiiuDies. use- individual stock holder of Northern, Northern Pacific and Southern Pacific He was a direct or of both Great Northern and Northern Pacific for many years, wise, the people of Klamath and Oregon would profit, assuming, al ways, that the two systems, nn.ler era ot the securities company. Each! well as a director of El Paso South-1 'ompc lllv0 con,ll"n- "li bo stock .holder therefore received a : weiUrn anda string of huge copper 'U"cd ,n n,al"n Investments mm oi ureat .Nuriuera ana .-.orm-ianu smelting properties, banks and j 1 em r-aciiic. regardless oi wnetner it ; mercantile and industrial Interests, was the stock of either company He is still a director of Great North which he had turned in originally j era, but his interests In Northern as the purchase price of Northern Pacific and Southern Pacific arc rep Securities. Thus Mr. James, the ( resented by other directors, elder, emerged from the experience Arthur Curtiss James, one of the as one of the largest stock holders verv weaithv men r.f ih ,i,i i. as wen as of , herited a large sense of resnonslhll. i ""' irauic. n nu.iiu a.j.-ar iu ue a t utiice iieiwcen certainty and uncertainty if ability to make adequate Investments were ot Great Northern northern Pacific. tty from a long line of paternal Eng. Not being a stock market specu- lish and maternal American ancest- lator. but an investor who preferred ors who were thrifty successful mer-: ment requirements of the Klamath region. j I Moiled down. It would appear rer , tain that one system would bo Justl I ficd in making the heavy Invest i ments required, while two systems might or might not ho justified on development enterprises. Mr. James chants. He Is known among finan kept his holdings. He passed away clers as having administered his vast in 1907, full of years and honors, , holdings with care, with Judgment and leaving a memory of sterling - nd with notable ability. He is re generosity with Amherst college, of putcd to know more about Oregon which he was a trustee, and nutner- than most of the citizens of our fair ous philanthropies. His wife died state, having visited its most remote In 1916 and gave $3,500,000 to phil- i regions. He wa3 In Oregon again anthropy through her will, after this summer, all through the Bend having donated other millions dur-land Klamath country. Schumacher Ing her lifetime. was in attendance at the big rail- Meantime, the elder James, whose road hearing. Just concluded, father before him was a metal mer-1 Incidentally. James is a patron of chant of Liverpool and New York, ; science and art, and Iirs been such had become one of the large de- from youth, having cultivated and velopers of Arizona through build- employed tastes and talents which the only consideration involved in the solution. Time and Experience are Kitrtors Hut there are other considera tions. One of them is the willing ness of one system to make the ade quate investments. It Is entirely conceivable that one system, even though confirmed In exclusive re- .tTod at th. flnT.h where .; 'stoa, j -M-men, mean, the ful.oM re.um ' might b. In-lus.v. , .1, th. I.sue. the beginning the S.mth-rn Pacific; - - Insisting that It could not go ahead ; ...... i with ita major plans If the northern rf lines were permitted to divide the truffle, and the northern lints In sisting that they delr.-.l admittance for the sake of g-ttins additional ' traffic to augment their perilously low net earnings. Ksrh party In- ' ststed that its plans oiild unlock the resources ot the Kluiuath coun try and that Its adoption would con duce to the development of Oregon. .Keatly.tuMile Solution mi Hie Sltelf itecause of Its ini.-r.-ii In the solu tion, Iho slate of Oreiton Intervened in the case, through the Public Ser vice ccinmls.lon. It was ready with its solution which would involve connecting central Oregon up with both the northern and southern lines at Fiend, Klamath Kalis and Lake view, and with the I'nlon Pacific al Crane, Thtti It proposed thai which ultimately would bring the Union Pacific Into the case, an.l would In volve All tlio linos. .In heavy devel opment expenditures. - If there were great accumulations of tt! Its capital ready to be poured into a railroad project schemed out l.y public authorities It might be reasonable to assume thai the state commission's plan, It enfor.ed. Wan; to save $22!? Ju-t Imv tli.it Chrysler 4 touring dcm.ii-rrniiir. , Has been used but little uiol is some I buy. Howie Motor to., r:'h nnd Main. tr:o:f Tnal Earn i down son ki, , It U Nib, I lot. i. 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Suppers urcw cold on the table, the lawn lieeame a thing of distress to the com munity and the man's family couldn't fiRure out whether he belonged to them or to the nice ohlny car out In the gar age. And he kept tho leautl fill car always nice and clean and bright. Hut one day the nice, beau tiful shiny car got stuck. The man culled up "Just Any Old t;urug" They came and got the nice, beautiful shiny car. Thpy "tested tin's and they touted that. Thi-y tinkered and hammered, and adjusted and finally mild that the nice, beautiful car was "good as new." Hut It wasn't And It never was the same car again not by two or three Jugsful. It is tl nice and beautiful nnd shlnv but OH HOY! how it Insl'des do grind and dhrlek whenever tho man takes It wit for u little run. MORAL Don't lake a chance. Have your work done at The Crater Lake Garage (20 K. Q. AYEtl Years In' tho Oame) 6m 7 MM Smiles? IT'S EASY TO TELL A SEIBERLING OWNER No trouble-not a care. He knows that SEIBERLING COI arc good for 's miles and 's miles anrt 's miles, just notice carefree expression of the man who has invested in a set SEIBERLINGS. Put a little joy in your life today. Drive in and say: ERLINGS all around, please." Balsiger Motor Go. Home of Guaranteed Ued Fords Authorized Ford Sales and Service 8th & Klamath. Phone 427 f ft-i T Ctafion ior and Ford-Equlpp"1
