DAILY. CAPITAL JOURNAL SALBM, ORRGON, TOBffc A SEPTKJkffiER 1, IMS
A
.&
- -s
STERN FINANCIAL LETTER
mi.,..i I nnw
Sent. 1 llKlv "
rcoaclude that wo ....
Ik. -mnly able to care for
Enorlng without assistance
" New York exchange
:. ,. .mi Chicago clearly in-
,m. and the continuation of
T rork asoclated banks to
.surplus in excess of lego'
CU Is a further proof, the
a Chicago anu iu b""
,,tles at lhc Ijeslnnlng of
.miiit find themselves
'.-h 1100,000,000 more cash
1)06 and 7&,uuw.v" m -
!t year.
west bonds are insi sup
ttil estate mortgages for
rtSt pUrpOSCS, 89 IS cieuuy
J hv the tremondoua col-
r Wgh-grade railroad and In-
BOrtgago ana municipal
nUced through cnicngo
1 . . .ni. t.ni..
nt bona nouses mm iii
m, of Interior states, chief-
d instluttlons. uoumry
ol ute have been henvy ln-
I la this class of securities no
. .s..L..t in (tin nhnfrnol
ir!T icnwieu
,3(J by the comptroller of the
r This shows thnt the nn
banks alone "have absorbed
j,jj of bond9 and other se-
i daring the last year, nnd or
k'we, J30.582.1C9 has been
fc'iW since the Btntement
H J51.830.130 slnco Fcbrunry
l 0,853,999, since tho ro-
IDk.3, 1907. These figures
bclnde government bonds
Ittr bonds belonging to tho
I class designated by tho
i u available to tho banks
r ii guaranteeing special gov-
t: (posits.
JiJtoul holdings of bonds nnl
i, other than "governments"
fttrallable to back up spo
iii7 deposits, 7GC,S7G,29G
.iteibljr moro than half Is
r intern natlonnl banks.
-olltd country bank holds
I2JII, whllo the central re
st links New York, Chlca-
Ifc Louis hold $191,300,-
166,98G,GGT hnVe found
iltb other reserve city na-
Ifcli. If tho Incrcnsed hold-
itiitato banks Is tnkon Into
n'ion It will be seen to what
km extent the western
k: have absorbed high-
k'll
nuoa for tho shifting of In-
i by tho west from real os
tme to high-grade bonds
I'luptrlty of tho agricultural
ltd the country. Tho farmer
riJds It necessary to strug-
minder tho weight of n
b ca his lands. Another Is
stotloa of tho life Inmrnnce
-"- through leclslntlvo
U by Now York and other
Utn from the stsck mar-
H their entranco Into tho
Hwrm es'ate. and moro es-
I r firm loans
fult of this reduction of
ri opportunities In renl es-
tato rnortgnges the western Investor
has been forced to turn to other
fields. 'Ho Is rapidly becoming fa
miliar with tho .salient features of
tho bond and stock market, nnd I
showing an Increasing ability to did
crlmlnnto botween the different
classes of securities,' But It 1b In tho
miinlclpnl bond market that the real
strength of tho west Is manifesting
Itself. Recant bond offerings by
municipalities Indicate that tho ab
sorbing power of the middle west
has not been Imparled In the least,
and that the Investors nre ready to
Lnko high grado interest bearing se
curities affording an attiactlvc yield
In Jily tho volume of municipal
bonds offered reached $20,440,985,
n sum exceeded only on two previous
occasions for similar periods, and
they were July of 1901 and 190fi
when tho aggregates exceeded $33,
330,000 nnd $25,442,000, respec
tively. Tho bulk of municipal bond
offerings ennio from western cities;
by far tho greater pnrt wont to west
ern investors.
A study of tho comparative nrlcot
of tho various listed investment
bonds reflects tho ability of the In
vestor to select securities having a
wldo tnnrgln of safety. They hav
almost exclusively picked the bond
affording tho highest security and
yield, combined. In tho Chtcngo list,
for lnstanco, they havo made tho
Common - wealth-Edison, Peoplo's
Gn3 nnd tho Clty,Rallwny and Chi
cago Railways C per cent bonds their
favorites;. trading In these securities
especially on tho Chicago Stock Ex
ehnngo tfni been active. Tho Com
monwealth first mortgago bond Is
typical of this, showing an lncrcaso
In not cnrnlng from lesi than $400,
000 In 1903, to more than a million
this year, whllo tho volumo of bond
Interest pnld annually has Increased
only from about $225,000 to $325,-
000 In tho samo period, Inrgely In
creaMng the margin of safety to tlio
bondholders.
Tho Chicago stock markot wont
through another weok of quiet In
vestment trading, some local shnrcs
advancing to now high records since
the, upturn, in splto of tho orra'tlc
eastern situation. Various Chicago
elevated rnllroad shares havo re
flected wenknes, attributed, in a
measure, to tho Inroads which tho
improved aorvlco of tho aurfneo trac
tion compnnlcs nro making on their
traffic slnco tho installation of now
oqulpmont.
o
New Corporations.
Herald Publishing - Company;
principal ofllco, Tillamook City; cap
ital Htock, $300; incorporators, Hope
Watson, Mario Smith nnd N. T. B
Pontrenth.
Union Iron Works; principal ofllco
St. Johns; capital stock, $10,000;
Incorporators, W. C. Franklin, O. E.
Ohsfeldt nnd ". C. MorrlB.
o
A womnn without n pin Is a novelty.
develepment:
(Continued from Page 1,1
JIBtJ
ALcoiini. n.r--Ara
SassES
3BBHEB
P" JtfH IfltJJfliiiM
I 4 IliMHfMt 1 1..J -
Knn nJU -
nfii. SwLCofilaias tKjtfari
tt&lwybeij
ra.
tmt
8
itesS2&5
zrv!"itti
JSEVOltK.
CASTQRIA
For Infants and Children.
The Kind You Have
Always Bought
Bears the
Signature
of
Jr(v fv
sV
M Jf
0
Promotion of Steam -and Electric
L Railroad to Coos Bay.
State Highway Construction
Through Western Oregon.
Automobile Road frbm Roseburg
to Coos Bay, via Myrtlo Point.
Stnte-AIded Railway trom Ontario
to Coos Bay.
Opening of Western Oregon Har
bors at Sluslaw, Winchester, Ya
qulna nnd Tillamook,
Opening tho Locks and Canal nt
Orogon City bo thnt C003 Bny Coal
Can Be Brought up tho Willamette
Valley by Water.
Breaking up tho Largo Wagon
Road Land Grants Across this State
nnd Opening Them to .Settlement.
Enactment of & Now Water Codo
and General Port Commission Law
to Dovolop Harbors.
This Is a big program but tho de
termination of tho men back of it Is
to fight for big results and put tho
whole state back of tho campaign.
Coos liny Alive to the Onuse.
Tho Cooj. Bay congress was
planned and backed by the Mnroh
fleld Chamber of Commerce, ono of
the live commercial organizations of
Oregon, which hns launched the big
gost publicity campaign oyer startqd
for that section by tho organization
of tho Oregon-Idaho Development
congress?
This congress is n child of neces
sity nnd its purpose is to blaze tho
way for tho development 6f south
ern, contral and southwestern Oro
gon nnd southern Idaho.
Tho need of railway transporta
tion for this vaBt area, tho. breaking
up of Immcnso unused tracts of
land, tho utilization of water powers
and development of a deep-Boa har
bor nro among tho many objects to
bo achieved. K
In ordor to bring nboilt theso re
sults It Is doomed ncccssnry that a
series of meetings bo held, both in
western and eastern Orogon nnd
southern .Idnho, and to thnt ond tho
President will correspond In tho
nenr future, outlining plans In do
tail. Tho next big Western Oregon
Booster congress Is to bo hold nt
RoBoburg tho lattor part of Septem
ber, nt which time plans will bo per
fected for construction of a hlgh-
eliina nutomobllo rond from that
city to Cooo Bay, which will run In
connection with tho Coos Bny and
Enstcrn Rnllroad making closo con
nections at Myrtle Point, nnd short
ening tho time, from tho Wlllnmotto
valloy to Marshflold from 24 hours
of neck-breaking staging to bIx
hours of comfortnblo traveling.
Report of Organization Committee.
We, your committee on pormnnont
organization, bog to report nB fol
Iewa:
Wo rocommond that this orgnnlzn
tlon bo mado pormnnont.
That It bo known as Oregon-Ida
ho nevclontnont congress.
That tho ofllcors bo ono president
and two vlco-presldents from each
of the states of Oregon and Idaho.
Ono secretary 'and ono assistant
from each of tho states of drogon
and Idaho.
Ono treasurer from Orogon and
ono assistant from Idaho.
An executive committee, consist
ing of tho president as chairman nnd
two assistants from each of tho two
stntes, Oregon nnd Idaho.
For officers, wo recommend as fol
lews:
President, Judge S, A, Lowell,
Pendleton, Oregon.
VIce-presldonts, Dr. J. Tl McCor
mac, Marshflolfl, Orogon; E. Hofor,
Solera, Oregon; Judge I. K. Porky,
Boise, Idaho; I. B. Perrlne, Twin
Falls. Idaho.
Secretary, C. A. Hardy, Eugene,
Oregon; assistant secretary, . &
Sheridan, Boise, Idaho.
Executive committee, Wm. Grimes,
Marshfleld, Oregon; L. J. Simpson,
North Bend, Orogon; Guy Barnhara,
Boise, Idaho, James OToolo.
Treasurer, Hon. I. W. Vawtor,
Medford, Oregon.
C. A. BEHLBREDE,
C. W. TOWER,
C. J. MILLIS,
Committer.
rfMFbodi
'.
In
Use
For Over
Thirty Years
CASTORIA
ym Mr,mm .
Kerop'd Balsam U a safe cougb
cure, for It contains nothing that can
harm you. It Ib tho best oough cure,
but cots ao wore tkaa any other
fcjlnd. All druggUU sell It.
. 0
Theso rains have been tough on
tho wheat, and the hops haven't
been helped any.
Married people are
quarrel and tight.
0
licensed to
CASTORIA
l'w blast a CUUtml
TtoXMYM tori Atop ltt
3ars the
Zi0&
( p$XU WOWMS'8 WOftkMMM. .
W refer to that boon to weak, noxrowB,
idfferls women known aa Dr. Pterert
Favbrlto Prescription.
' 2r. John Fyfe ono of tho Editorial Stan
Of TKK ECLKOTIO Mbdicai. Rkvibw sy
of Unicorn root (llclontns DMca) whleh
Is ono of tho chlof Ingredlonts of the "!'&
vorlte Proscription " :
,"A remedy which Invariably acts as a utcr
Ina Invlirorntor makes for normal ao
UTtty of tho entire rcpruductlro tjrslcnt '
Oo continues "la Uclonlatwcharoamodtca
moht which tnoro fully answers tho atom
puiixxes than any uUxrdrug wUh vhtch I am
acqruitntal. In tho treatment of dlso&scs pe
culiar to women It ts seldom that a case L
aovn which doi t not Drwent wmo Indication
for ttihtrcnu'uiai aacnt" Dr. Fyfo further
ar! 7TI10 fotli wlnir arc amonir tho leadlnc
tndlcatlou for Uulonlas (Unicorn root). 1'aln
:r achlnr In tho back, with iltucorr'hcra j
tonic (weak) eonilltlofraof the reproductlM
orcans of iorcen. mcntil deprewfon and Ir
ritability. Uitoclatcd wltlchronlc tllieac of
the rcnrooiK''VC qfaani of wemen: constat X
acnsatlon yr heat in tho rcelon of tho kid
neys: McnArrhisId (floodlnii). due to a weak
ened canltU' ofthe rcproductlre ajatcmf
aroenofwryYvrArtjacd or absent monthly
&crtud).4Us rfrom or accompanjlne as
aunor-M cone tlon of tho dlct'stlvo orjrnni
and Amcmlc Ihln blood ) Ttahlt: drtsclr.g
sensuous In the extreme lower part of ihv
bdoYaoT."
If mnrfl or ,p' of tho alKvo svmt'torf
gTCTlSiV'"'" ', 'nliJ.PinaOaji 11:1
tw'ttcrlnuii ku i)r. i'icrctvs yavorli 1
yr&afiiuuiii. i.Wonnu roaaiim ingrcui-
enta 01 unitii is Unicorn root, or Hclonlas.
and tho mimical proicrttcs of which It
most faithful. y represents.
Of Golden beal root, nnothnr promlnnpt
ln;rredlont of "Favorlto Prescription.'
Prof. Flnloy Elllngwood, M. D.. ol Hen
nott Modlcul (ulk'go, Chicago, says:
. "Itl.tan n,i,rtnt remedy In dlKirdora ol
tho womb. In til catarrhal condition!
Mid aeneral onfeoblement, It l useful."
Prof. John M. Scuddor, M. U., Into ol
Cincinnati, says of Golden Seal root :
"In relation to Its pen oral effects on tho
system, then u no medicine ri ue aNiiif rhuu
thlr i nuh otnrnl imnnfrndu 0 opindm. U
la unitvrjcally truattled aa the tonic uitotul lu
allnnbllJtatcrtpinti!."
Prof. R. Hr.rtliolow, M. D.. of JofTcrson
Mndlcal Collfgo, says ot Golden Soul :
"Valuahlo In uterfno hemorrhairo, tncnor
rhasla (lloodloe) and concetlvo dyitmeBor
rhrea (painful ainiitniatlnn)."
pr. Plprco' Favorllo Prescription faith
fully roproscnts all tho abovo named In
arroutontfl andcurr? tho disease for whlah
tiey ar ronoLimondnd
Gold Dust Flout
DER COMPANY, Sidney, Ore
gon. Mndo for family ws.
Ask your grocer for it, Hran
mid HliortH always on hnnd.
Made by THE SYDNEY PAW-
P. B. WALLACE, Agt.
THE REST ROAST THE
FAMILY EVER HAD
Can bo obtained from our prime
tonder nnd Juicy boof, mutton or
pork. All our ments nro Boloctod
from tho choicest, and prepared for
tho tablo to milt tho demands of the
fastidious. Our prices aro lower for
qunllty than you can find at any
place In Salem,
E. O. CROSS,
Phono 201. 870 State St.
First Class Livery, Sale
and Boarding Stables
Largost stock of now vehicles In
town.
The Old Club Stables
a
Corner Ferry and Liberty streota.
Proprietors, Gilliam & Boedlgholmor.
Phone Main 7. Salem, Orogon.
Great Chinese Doctor '
L. M. II U M
Has medlcinu which will cure any
known disease. Ho makes a special
ty of, and guaranteoB to cure Catarrh
Athma,-Lung, Throat, Rboumatlsm,
Debility, Stomach, Liver, Kldnoy
Treubles: also any blackened or
swollen soreness, broken limbs;
Smallpox; Epidemic; all kinds of
Bolls, Lost Manhood, Female Weak
ness, Hernia Troubles and Paralysis
Consultation free. Care of Ylck So
Tong Co., Chinese drugs and horbs,
153 High St., upBtalrs, Salem. Or.
Agricultural College
Corvallls, Oregon.
Offers collegiate course In Agricul
ture, lucludlBg Agronomy, Horticul
ture, Animal Husbandry, Dairy Hus
bandry, etc.; Forestry, Domestic
Science and Art; Civil, Electrical,
Mechanical and Mining Engineering;
Commerce; Pharmacy.
Offers elementary courses In Agri
culture, Forestry, Domestic Science
and Art, Commerce, nnd Mechanic
Arts, jRclndlHg forge work, cabinet
making, s-teaaa fitting, plumbing,
machine work, etc.
Strong faculty, modern equip
ment; free tuition; opes September
25.
IllturtFfttMl catalogue with full U
forwaUo e aj4tcatkB to th R
Utrar, fr
j .
3
, K' XHH ACME 01iJBM8SW'i ,
Is reached when listening to the enH
trancing strains of a Edison Phono
graph. For variety and r6al joyouV
ncsa no music can equal that pro
duced by ono of the Edison ma
chine You can havo any sort of a
program you llko. Our collection of,
now records embraces tho grave qndi
tho gay, tho ridiculous and tho su
blime. ,
L. P. SAVAGE, Salem, Ore.
tWe Launder Ladies Shirt Waists and White
,Skirts Just Right.
Wo guarautde to. All of, our shirtwaists are care
fully washed with a special neutral Boap, Btarched Just
where they should bo, starched and Ironed by experts
whehavo made shirtwaist Ironing a special study;'
Wo nre pleasing tho most enroful dreBsora In tho city with our
shlrtwntnt work and aro sure wo can ploaso you. May we have a
trial. s . f
SALEM LAUNDRY COMPANY
Tel. 26 13-166 S. Liberty St.
Little German Shoe Store
Got footwear that la right for this season, nnd cave shoe blllrf.
s 1
I have a now. lino of medium heavy working shoes for fall trade.
Boys nnd MonV. Loathor gloves for hnrvost work
MY PRICES ARF 'THE LOWEST
JACOB V0GT, 345 State Street
New
nil
rt
1
u OREGON
BUILDERS
ARE YOU DOING WnAT YOU CAN TO POrULATH YOUR
HTATH?
OREGON NEEDS PEOPLE SeUlers, honest farmers, mechanics,
morchanta, olerk, people with brains, strong hands and a willing
heart capital or no capital.
Southern Pacific Go.
Lines In Oregon
Is sending tons of Orogon lltorature to the East for distribution
through ovory avallablo agency. Will you not holp tho good work
ot building Orogon by Bending us tho names and addresses of your
frlonds who aro likely to bo Interested in this Btnto? Wo will bo
glad to boar tho oxponso of Bonding thorn comploto Information
about OltEGON and Its opportunities,
COLONISTS TICKETS will be on salo during SEPTEMBER AND
OCTODER from tho East to all points In Orogon. Tho faros from
a fow principal cltloo aro
From Loulovlllo ..,., $41.70
" Cincinnati 42,20
Cleveland 44.75
Now York 55,00
From Denver 130.00
" Omaha 30.00
" Knnsaa City .... 30.00
St. Louis 35.50
" Chicago . , : . . , , 38,00 .
TICKETS CAN lift PREPAID.
If you want to bring a friend or rolntlvo to Orogon deposit tho
proper nmount with any of our ngontn., Tho ticket will thon be
furnished by tologrnph.
Local agont, Salem.
WM. McJrURRAY, General Passenger Agent, Portland Oregon,
YAQUINA BAY
Oregon's Matchless Beach Resort
THE PLACE TO GO FOI PKIIFKCT RKST AND EVERY CON-
CEIVARLE .FORM OF HEALTHFUL AND DBLiailTFUZi HEC'
REATION.
ITS FACILITIES "ARE COMPLETE Dost food and as abun
dance of It. Fresh water from springs. All modern necMiHIes,
such as telegraph, telephone, markets freshly provided every
day. Fuel In abundance. Cottagea partly furnished or unfurn
ished to be had cheaply. Strict municipal sanitary regulatloas.
NEWPORT $ reached by way of tho Southern Pacific to Albany
or Corvallls, thence CorvalU & Eastern R. R. Train service dally
and the trip & pleasure throughout.
RATE FROM SALEM
BKASON SIX MONTH TIOKRT $.Q.
SATURDAY TO MONDAY TICKET .,
Our elaborate aew 8umr Dook give a concise decrlptloB
of Newport, laeludlag a Hit o'f hotels, their caplclty aad
raU. Call oh tekphM er wriUi local ageats.
WM. McMUKKAY,
OeMMral PMgrAiat, rrtlaa4, Ofea,