-Tar?" "
" V"
It
iaunial
SALEM, OREGON, MONDAY, FEBRUARY 10, 1008.
NO. 07.
kxmi.
"T'J
sr i i i t is i i
U lit JJIXLLII 11 fEftiPIfl 1 1 1
i
F
r
LAN FOR ELASTIC CU
on
l
ENCY
ashington, D. C, Man May Be District Attorney
'JRTMENT IS NOT
FAVORABLE TO OLEETON
cjh "Persona Non Grata" to Heney Delegations
(nrrel Say Lead to Appointment of Townsend
or ttasmngion v. u
t
EtUrf PM Ceased Wire.)
hid, Or, Feb. 10. It Is ro
a foruana mai mu uimi t-
11 jattlco Is not satisfied with
kt&loa of Thomas J. Clcton,
kits', (or tho position of fod-
iltfA attorney in Orogon, and
tin doubtful if ho wllkbe nom-
f lr tho President. It la said
ihatj ii Dot favorable to Cleo-
e kt this cannot bo confirmed.
M&t th candidates mentioned,
Cktton U not appointed, Is I),
ifami, of Washington, D. 0
i tu Isttrested with Henoy lu
tho Investigation of tho timber land
frauds.
SLUMMING TOUR
ENDS IN MURDER.
(United PresB Lcasod WIro.)
Now York, Feb. 10. Affcor n night
of slumming In Chinatown with four
othors nn unknown woman was shot
and fatally wounded In n Second
avonuo street car at an early hour
this morning. She- quarrolcd with
her escort over a bottle of cham
pagne, and ho drow a rovolver and
shot, tho bullet entering her loft
breast. Tho girl died shortly after
reaching tho hospital.
ANOTHER
BIG BANK
SCANDAL
THE BURNS
PALMER GO
TONIGHT
AT FOREST GROVEDURNS CONFIDENT
H. W. HAINES CLAIMS HE WAS
HORDED OP ?20,000 SAYS
KANE AND W. II. HAINES WERE
DISCHARGED HKCAUSE OF DIS
CREPANCIES IN THE HANK'S
HOOKS.
ICAGO SIM I
DrnDi re dadaiu unncc I
ikvi uuu usrouAl ii mvuuu r
UNLOADING SALE
ONLY THIS WEEK
THIS GItKAT UNLOADING SALE THE PRICES WILL HE
I W THE QUICK. WE WANT THE ROOM FOR OUR SPRING
SO IP YOU WANT GOOD, HONEST HARGAINS AT SMALL
Vmi' IV mm-, m.-... . ......
. -.. ,,, iHIi ij,uti ii) 11U1,
l
ts Just Arrived
Jl'llted at Sale Prices
fM
!uUful stock of Dross
pttrmoadlng Prices.
lfifcol yarda of daintv v.m.
P1 Kolng at the same
lni, from.,.. 4c Yd. Up
Uoiesfirc
-- Cotton Drew r,ond .
-T-yard IOC
'Wj PIo
'!..
I
5c
r - Flannel
h 7c
&
fe
StwUaga t
Mill
rF'lajJp fllrmU
AWAY nnu-v
P.
Hstip.
r sitt
Vfuv
$klrt
S2.05
3-
S U the &me Low
Awk-afliu
I
Ladles' $15.00 Suits
Vow
Ladles' $22.50 Suits
Now , . . . ,
Ladle' $12.00 Coats
Now
Ladles' $18.00 Coats
Now
.$ 8.58
. 12.50
. 7.50
. 9.90
Better Suits at the Same Low
Prices.
Ladles' Shirt Waists Half Price.
.TThat Saves You Money
(United Press Loosed Wire.)
Forest Grove, Or., Feb. io.
Western Oregon may havo n bank
scandal on its hands that will equal
tho record of tho defunct Title, Guar
antee & Trust Company, of Portlandt
for delirious finance, bctrnyal pt
trust and spectacular accusation. Ait
a result of tho failure of tho E. W.
Haines bank, of Forest Grove, Frank
T. Kane, n former cnBhlor of tho
bank ,nnd now a deputy shorlff, and
W. B. Haines, also a former cashier
In tho Bamo Institution ,arfe Involved
In a cbargo of bank wrecking, made
by the president of tho Suspended
Institution. Both dony tho chnrgi
11I11IIII1IIM)
M
GREATEST CROWD ATTENDING
A LONDON PRIZI FIGHT IN
YEARS WILL WITNESS Till
HURN8.PAIi.MKR SCRAP FOR
CHAMPIONSHIP TONIGHT.
(United Pross Lonsod WIro.)
London, Fob. 10. A crowd which
will probably bo one of -tho largost
In years will (too Tommy BurnB meet
Jack Pnlmor tonight before tho Na
tional Sporting Club. Burns' vic
tory ovir Gunnor Molr gavo him a
clas.j In (England, nnd ho Is now gen
erally regarded as tho best of hla
weight lu tho world. Palmor Is
looked upon as a .rough and reudy
fighter that ought to glvo Burns a
torriflo bftttlo of. tho kind that Burns
likes tho least. Heavy and persistent
mixing with llttlo ohanco for fast
and clover footwork.
Tho'tScttlng Is running 2 to 1 that
Burns will stop palmer within ton
!
ALDRIGH DEFENDS
BANKING BILL
It Provides For tiie Issuing of $500,000,018 Identical
With National Bank Notes, Secured by State
Or Railroad Bonds
MCDONALD'S CELEBRATED CHOCOLATES
THE HIGHEST GRADE CHOCOLATES IN THE WOULD.
fa Sa" at HENRY WIPRUT & CO'S
tho confldonco of tho Amorlcnn poo
plo, It would bo prudont to uho this
form of currency. Oormany, Eng
land and AuBtro-I lungary follow this
plan in a gonnrnl way. Tho commit
too folt Gormnny'B procodont tho
safest to follow. Thoro tho Imperial
bank Is dlroctly under Uio control of
tho govornmont, nnd hnit tho authori
ty to Ibsiio $119,000,000 or notes not
covorod by speclo. Furthor Ibbuo Is
authorized to oqual tho total amount
of speclo hold, and n Htlll furthor
amount subject to a tax of flvo per
cent u year. Against tho limt named,
rpoolo must bo hold to o no-third of
tho amount and gold bills of ox
ohungo ngalnat tho remaining two
thirds.
"Tho bill, reported by tho commit
tpo- provldos for tho possible Isstio In
omorgvinclOB of $500,000,000
notos, to bo jdontlcttl In oharnctpr'
that of nntlonnl hank notcH, ami pa- 4
c'urod by JttAto bqud. rho b?rtk
uioln j
0 ,ln I
tpr'to
vigorously. At a meeting of tho de
poBltors of the bank Saturdny after
noon, E. W. Haines Btood beforo his
creditors, and In an address, which
was frequently Interrupted because
of his sobs, ho declared that ho had
been robbed of $20,000 during tho
last few years, nnd asserted that
both Kano and Halnos had boon dis
missed by him from tho bank because
of discrepancy In the bank's books.
Tho spech cnuso.1 n tremondous sen
sation In tho small town. At tho
same tlmo Halnos declared that n
rival bank president of Forost Grove
bad circulated rumors In order to
undermine tho oredlt of the, bank.
President Halnos was president of
tho Orogon senate In 1905. Today
both Kano and W. B. Haines made
detailed statements denying E. W.
Halnos' ohargos, and E. W. Halne
has lsued notice declaring that he
will Insist that the bank's books bo
oxperted by accountant!, selocted by
tho Depositors' Association and paid
for by hLmsolf in order to oloar his
name. Kano declare the charge ar
preposterous.
o
MAY 60 INTO
RECEIVER'S HAND
Washington, Feb. 10. If the
Merchants' National Bank, of Port
land, which suspended in November,
dot 8 not reopen In solvent condition
by February 15. It will be placed In
the hands of a reoelver. This infor
mation was given out by Comptroller
Ridgley today. As yt Prosldoat
Watson, of th bank, has not HOtifted
the comptroller that he oan moat the
government's terms In regard to re
opening the bank. -
o '
Oregon Hoy Elected Editor.
Stanford University, Cal., Feb. 10.
Frank Adams, of Portland, Or., a
special student In the law depart
ment, has been elected editor of the
" Quad," the Stanford annual, pub
lished by tho junior class.
rounds-, and thoro aro many takers
at that figure. Burns Is a 10 to 1
favorite on tho final rosult. Palmor
dclnre that hs will last out 20
rounds.
"If I don't stay 20 rounds, anJ
give Burns tho worst trouncing of
h"s fighting caroor I will quit tho
ring forovor," said tho British pur
this morning.
"The fight won't last ten rounds."
said BurnB today at his hotol. "I
oan't possibly lose this fight. Aftsr
the bsttlo I will fill n theatrical en
gagement, and I may go to Paris for
a fight for a $10,000 purse. My bat
tle with Rooh, the Irish champion,
will be pulled on as scheduled."
o
DISMISS GHARGE
AGAINST RIGGINS
The charge of larceny preferred
against William Riggne and hie
wire for stealing a mandolin by E.
jr. JudW8. leeeo of tho Wilson
boarding houso, was dismissed by
Justice of th PeaoV Webster this
inornintr. The mandolin had been
left In Judkin'a possession as securi
ty for $4. which Riggins hid bor
rowed, but Judkins has boon in the
habit of letting Rigging have it from
time to time. On the Inst occasion
the borrower refused to return the
instrument, and on Friday night
Judk:ns had them arrested.
Judge Webster held that, as the
mandolin had been handed to Rig-
gins, and was not taken without ni
consent, he was not guilty of lar
ceny. o-
SRNATOR FULTON WILL
I1K HOME IN MARCH.
(United Press Leased Wire.)
Washington, Feb. 10. Senator
Fulton Is preparing to come home ou
March 15. and then publicly answer
the rseent charges made against him
by Heney. Ho cannot get away soon
or because of preee of legislative'
business
(Unltod PresB Leased WIro,)
Washington, Feb. 10. Tho reply
of Sonntor Aldrlch, of Rhode Inland,
to tho orltlcB of his banking currency
bill, Introduced by htm as a iiioasuru
to provide rcllof In tlmo or financial
strws by allowing tho national
banks to issue omorgoncy currency
on certain approved sociirltlos and
guaranteed by tho government, wuh
mado today. It excited wldosproad
Intorout because tho bill In supposed
to havo tho beat opportunity or pass
ing or the number -or bills offered thin
sesHlon, Many financial critics de
claro that tho bill affordH no substan
tial rollof. Aldrlch rovlows tho sit
uation In able style. Ho said In re
viewing tho panic or 1897:
"It wuh not a currency panic, In
tho truo Bonso or tho word, ror -the
Unltod States currency, In oharncter,
In boyond question. Tho amount Of
monoy lnv circulation at) that tlmo In
Uio bandit of tha nennlo outside.
bunks' treasury, $19.30 'por'captUrfiUi'aro roqulrod to deposit Iri tho United
much lorgor than that hold by Tho Status t'riasury municipal, stuto or" f
pooplo or any othor commercial coun- flrst-cla.is railroad bonds. On tho
try in the world, oxcopt France, state or municipal bonds the bunkd
whoro tho Conditions nra -antlroly dlf- aro entitled to 90 pur cont lu notos,
feront. , and on railroad bonds 75 por cent.
"Undor tho ordinary oomlltloiib "On railroad bonds 75 por osnt.
tho volume of our currency could b At nny tlmo within hours, tho on-
fairly orltlolsed as oxcosuivo, eoi- tiro $500,000,000 can bo put Into
talnly It Is adequate to most tin channels of trndo to allay public
normal domunds. But no provision exeltemont.
ror an emorgenoy which occurs more "Tho bill simply gives tho banks
or lose froquontly In ovary country, tho right to accomplish by Jogal
and which wo now see oxlsts yot on methods that which wuh folt nocos
must bo provided ror. It Is simply lin- wiry lu tho tiinjom crisis to nocom
posslblo to oitlmato the losses Inflict pllsh by Illegal moans."
od by tho Misponslon puymont by tho Aldrloh grew saroastlo In roforrlng
banks in tho recont dlBturbnncas. to the objection or the offQat tho bill
Thore wns financial ombnrrassmont would have on bunk earnings. IIo
on ovory hand, thousands were said ho must confesH that tho corn
thrown out of employment nnd the mlttlso did not try to d ovine a plan
wages of tho omployod reduced. Of to lnoroase them,
tho flvo oxpodlentM adopted to met "In tho recont pnnle thoro was tho
tho omsrgoncy, tho uso or tho clear- Konornl suspension or onsli puymont
ing houso cortlflcutos was unquestiou by the banks," ho said, "and this Is
ably tho most offeotlvo. I In violation or ovory banking law.
. "This wns tho eighth tlmo that But tho bunk mnnaB,ra should roal-
tholr employment has been ben- law but ror the oxtrnordlnnry rore
eflclul at tirnos preventing a sorlous boaranao or tho people it would not
dlsttstar, but It rosulted this tlmo In bo ropentod. Our collections during
such a dlsnrrangomont or tho ox-1 tho past three mouths aro too lndofl
change us to make It doubtful nt to listen with patlenoe to a dU
whothor the disadvantages woro not cusslon by tho officers or bunks In
greater than tho benefits. Tho great largo oltios whether tho ntmodlos
losses Uio peoplo or tho country stir-, Mroposod by oongpsse would1 result In
farad thrnnirh ihn niirtlnl liranlrilnwn Inrtfn nililltlnris III Ihftlr dividends.
of cur oredlt system, and which the "I do not intend to place u promt
abnormal Incroaso In the volume of, urn on that kind of bank manage-
monoy failed to avert, should load
congroes to seriously consider wheth
er it Is posslblo to provide for lsgls
latlon that will provent Its recur
rence. If a panic should be repoot
d. tho method of relief used In 1907
would not bo available, and tho treus
ury might not bo in a condition to
come to tho relief of the pooplo. It
lu Impossible to Inoroasq tho national
bank notos on United Stutes bonds.
No ono can predict what the financial
conditions will bo by autumn. Some
urge the ontlre rovislon of the mon
etary system, some the establish
ment of a eontral bank of Issue.
"I personally think the adoption of
Uio latter system In tho Immediate
future Is out of the question. There
fore the entiro finance com rait too
agreed to demand for an Issuo or
emorgenoy notes. The minority fa
vored the United States nott-s, but
tho majority felt that this would es
tablish a dangerous precedent.
"They believe, since the national
bank notes, with their convertibility
guaranteed by tho government, have
ment which proposes to make a flnan
clal disturbance and disaster thw
source of profit. Th securities
named must find universal accept
ance In the sotUement of obligations.
No securities, oxoept United States
bonds, haw bettor orodk or standing
In financial circles as to the assor
tlon that tho government should not
exact from the banks a pledge of
definite securities, and that It Is Hafo
to accept geikerul credit uud usssUi us
security.!'
Aldrloh ald that a tuiflolont an
swer was that tho bunka did not fol
low this rule In doullng with ouoh
othor. The olearlng hoiiBos require
carefully sefeotcd soeurltlos on wliloh
to ndvanco 75 per cent of the value
of the paper offered.
Now Llstiii
We have told you many times that
tho way to build up Salem Is to buy
homo prodiuots, and especially when
they are as good as a foreign make.
Wild Rose flour has no superior, and
It Is mado hero.