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. Motet (J
m.
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''.'ek.TV'.so.si.-oa.-sf ,.tsa,sfvsiv'rA. i I
Fable of the Man
Who Owned a
' Fine Car
I!y AESOP, JR.
There as omte a man who
owned a car. It was a lioait
tiful, shiny car and had set
the man tjark many, many
hard earned smackers.
The car was his pride and
y. 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
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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
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Put a little joy in your life today. Drive in and say:
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Home of Guaranteed
Ued Fords
Authorized Ford Sales
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8th & Klamath. Phone 427
f ft-i T Ctafion
ior
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