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About Daily capital journal. (Salem, Or.) 1903-1919 | View Entire Issue (Nov. 17, 1915)
THE DAILY CAPITAL JOU RNAL, SALEM, OREGON, WEDNESDAY, NOV. 17, 1915. FIVE Bank Clearings Show Gain Astonishing to Financiers New York, Nov. 13. Bunk elearinK" laHt week at rinrinl cities UKKicuted $4,5O0,000,00()j, or U7 )er tent more than a year ago. This is an astonish ing gain. The ratio of increase was 108 per cent at New York, !!9 per cent at Boston, 36 per cent at 1'hilailelphia, 25 per ccut at 'hit-ago, 4" per ceat at St. Louis and 57 per cent, at New Or leans. Of course the Stock Exchange, which wag closed a year ago, hail much to do with swelling tiio total in this city. But outside of New York, where financial operations wore more nearly on a normal st-ule," the gains were also impressively large and proved conclu sively a wide-spread business expan sion. The returns for the month f Oc touer were equally significant; the to tal being 20,0ii0,U0u,WHl, against $11, 700,000,000 a year ago. Here was an increase of over 70 per cent at all cities; New York showing a gain of 127 per cent ami all other cities a growth of 20 per cent. So much for bank clearings as evi dence of trade revival. What about railroad earnings? In the third week of October 32 roads reported earnings of $14,300,000, an increase of 2,1 00,000 or over 17 per cent. Previous to Oc tober, the ruilronds had been report ing more or less serious losses, but these diminished sharply during Sep tember and turned into steadily increas ing gains in October. The latest re turns are oven more encouraging, many of the big trunic lines both east and west showing very handsome recover ies, particularly such roads as Burling ton, New York Central, Pennsylvania. Canadian Pacific and others. Bigger tonnage, better rates and lower ex pense moan good net resnltB. The num ber of idle cars November 1 was oulv 20,000, compared with 170,000 a ver ago. The iron trade continues to furnish examples of unprecedented activity. Since the first of September orders! lor over 1,000,000 tons of rails have been placel, about 5.10 locomotives and more than 45,000 cars. This only represents a portion of the new activ ity in the steel trade as some of the railroads are building considerable equipment 011 their own account, anl the steel companies have received largo orders for outside construction work; not to mention munition orders. The report of unfilled tonnage issued by the United Status Steel corporation, which is running nearly 100 per cent cajiacity, surpassed all expectations; showing an increuse of 847,000 tons, as compared with the amount of business on the books in tho previous month. Prices for steel are steadily advancing, and this industry is now enjoying a period of prosperity which in some respects surasses all others on record. The facts just, cited prove industrial revival, based nu stated in our previ on advices upon big crops, abundant money and foreign munition orders. This activity is already spreading to various branches of trade. The textile industries show a healthy tone, interior merchants having been often caught with comparatively empty shelves, which aro now being replenished. La bor is well employed and generally at good wages. On the stock exchange speculation slowed down somewhat; the rapid ad vance of tho last few weeks having induced moderate realizing and a tem porary reaction. More or less foreign selling was detected at the higher pric es, and the decline was further acceler ated by opera'tions of a local bear' clique, The weaker shares were the wr initial 1 iu in, j rum wiucu niienuuii luts been wisely diverted to the mora substantial railroad anil industrial 4P curities. Liquidataion, however, ap peared to have no serious effect upon STATE NEWS Lake County Examiner:. Now that the frosty and clear mornings are com ing, the people of the Goose Ijike val ley will be able to see some of the mag ical effects of the mirage that forms so striking feature in a dry region. The mirage, typical of the plains country or on the ocean, may be seen on or near Oote Lake most any clear, frosty morning. This queer phenomenon takes on various different forms. It makes the high laud- on the west side of the valley and the tops of the distant trees, hotism and haystacks appear to be raised above the horizon with a narrow strip 01 sky, between. Sometimes the mountains at the south end of the lake are plainly visible and appear to rise to a great height. Sometimes it takes on a more astonishing effect. The bay stacks and the houses at the north end of the lake loom up to bo two or three times their real height, and plnces or dinarily hitl by the curvature of the earth are Drought into view. Accord ing to scientists thore appearances are due to retraction and reflection from layera of air pf different density, such as are often formed above a wido ex panse of level country. Medford Mail; S. V. Haynos, with the government engineers in a survey of the Crater Lake park Borne months ago, lound an old Colt's revolver, six shot, Bingle action, and of very old modol, buried in six feet of volcanic ash and in a good state of preserva tion. Mr. Haynes, who lives at 117 Laurel street, this city, will leave the relic of pioneer struggles with Secre tary Lnttn, of the commercial club. "Another dry ranch at North Pow der has been disposed of for the mag nificent sum of $9000," sny the La (Iraiule Observer, "nil of waich goes to Bhow that if ono could only have seen a few vears ago what that dry land was worth "there would have been nothing to it But if one could only see now what a few things will be worth in the yeari to come fortune! would be made without much effort." Tho Aslorian commend the mayor And the bill posting company for the "progressive'' billboard they are plac ing at points of vantage, announcing what Astoria has done, is doing, and what it ha to offer the investor. The bids for 1 ho manual training building for Fossil school district be ing considerably over the $.1000 Bp- the market, and on the decline there was good buying for all the more de sirable, issues, indicating a good under tone. The war still has a powerful in direct effect upon this market. Dur ing the past week war developments have not been of a very encouraging nature, since they suggested a prolon gation rather than a shortening of the struggle. The possibility of further friction with the central powers over the conduct of marine warfare also ex erted an unsettling eflect. "--The con tinued withdrawal of ocean tonnage for war purposes is having a tendency to restrain exports, the result being less pressure of commercial bills and an in creased firmness in foreign exchango. The situation of the latter was favor ably affected by the successful nego tiations for establishing British credits to the extent of $.10,000,000 or more with New York banks. As for the future of the market, while reactions such as those witnessed during the last few days are probable and necessary, the forward movement does not seem to have reached its cli max. Of course, there will be an end to the present rise, but that end is not yet in sight. The impetus of big crops has by no means spent its force; nor is there anything to counteract the lat ter except unfavorable developments growing out of the war. Ahother very powerful factor is (the intlationary ef fect of our huge gold supply, and the operation of the new federal reserve system: both of which have laid the basis for a tremendous expansion of credit. The allies are bound to con tinue coming here for a large portion of their supplies, and having less mer chandise to send in payment, they must continue to ship gold as freely its pos sible, buying on credit what they cannot pay for in merchandise. Of course, this imposes a hqavy strain up on .the allies which cannot last indef initely; but their resources do not yet appenr to have been overstrained. When the war ends there will be some big-work to do in financial romubiliza tiou, and the ability of our financial leaders will be taxed quite as severely as when the war began. But fortunate ly tht'ro will be ample warning of any peace movement, and ninny vague rum ors must be expected before genuine steps are taken. Moreover, a prolonged period of negotiation will be inevitable before disarmament becomes a fact. Many months mny easily pass before the millions of men now engaged in mutual destruction can possibly return to productive labor. , in about three weeks congress will open and a new set of issues will be pressed upon public, attention. The at tacks uiiou capital which have contin ued for over twenty years, have about spent their force. Many of the old abuses hnvo been practically eliminat ed, and this form of political enter prise is rapidly going out of fashion, particularly since its injurious effects became so apparent to all concerned. Tho war will undoubtedly make a strong impression upon our imlitical life. Ef - forts will probably lie made for read justment ot the tnritf, especially where public revenue has been affected by curtailment of importations, ihipping win come 111 lor a large snare of at tention, our ilependiince upon foreign ships for liassengers and freight be ing particularly humiliating to our na tional pride and detrimental to our com mercial interests. The problem of pre paredness will also figure very prom inently in public affairs. This is an entirely new issue- and one demanding a prompt and satisfactory solution. The Si early opening or congress and recent developments in the wur fully account for this week'B setback. HENRY (LEWS. piopriatiou, all have been rejected by '- board, and the plans and specitiea tions are to be modified and readver tised. The Baker Herald hails the improve ment of the Soutu Bauer nulls, to hand le more business this winter, as "an other cheerful step toward greater pros, perity for this vicinity." . Two new rooms have been added to the Christian church of -North Bend, which will be Used for Sunday, school and other church work," and during services will be converted into a nurs ! ery.' " . : . ..' ; , .- ' , Oak mast in great abundance is re ported from different flections of Curry county, and the Hold Beach Globe says farmers are driving their hogs to it. THE MAN WHO QUITS. , The man who quits has a bruin and hand As good as the next, but lacks the sand t That would make him stick, with a courage stout, To whatever he tackles and fight it out. Ho starts with a rush, and a solemn vow Thut he'll booh be showing the others how; Then something new strikes his roving eye. And his task is left for the bye-niiil-bye. It's, nn to each ninn what becomes of him; He must find in himself the grit and vim That brings success; ho can get' the skill, If he brings to the task a steadfast! will. I No man is beaten till he gives in; j Hard luck can't stand for a cheerful grin; The man who fails needs a better excuse Than the quitter 'i whining, "What's tho use f" it.- . I. !t 1l ..1... ........ I x or 1110 limn n uu tjuua ii-ib urn ciiuin cni S 111. Just because lie's too lazy to keep his grin. The man who sticks goes ahead with H shout. ' While the man who quits joins the "down and out. You "re paying for news in $ tne journal, not prizes, j IS 1:1 " i v..' . .- . ... " l orn Lsmi (Ut Moire wm Ybur. MdMiey at Mooii09 This is the store that is doing the business in Salem. There is a good reason. It is high quality and low prices. We believe in a quick turnover of our goods at a small profit rather than keeping articles in our stock for months and possibly years marked at a large profit price. Our customers get the benefit of this small profit and quick sale plan and are coming to this store in ever increasing numbers. re 111 1 r- im Leather Rockers for Very Acceptable 0 Father, mother and all the family will enjoy a Leather Rocker as a Christmas present for the home. There is beauty, comfort, long life and low prices all combined in the kind we sell. See about them now. $10.00 to $35.00 What about Drap .eries? Don't over look the fact that at this store we fea ture ' high class draperies at purse pleasing prices. Al ways glad to show them to you. THESE ARE NONE BETTEB THAN THE HEYWOOD We carry one of the largest stocks of Furniture in Salem. The items mentioned in this ad are only examples of the variety we offer. . ' w wnw ! u ! i H 'j Ml n i HI I ill l u II liWMffWWWWIWWWWWWIMMWIMHMWWIWWMWM $TP FF1 SPECIAL HOLIDAY IT 1ILLi1Lj Offer in Rnnoe Dent. Every purchaser of a Range at this store between now and December3! O A 1 f1 !T ill nrtnitn r Viri r 11 tr "F n A ffn .. A1I Tl A tlll'Voir Tnl .- 1 Will icveive auDuiuicijf errin&a nn this nffer and it annlies &r , ... : Our BLOCK, uet a range now anu ,turkey weighing fifteen pounds... These are regular prices the DINING ROOM SET Thanksgiving is almost here. Will you be ready for those guests with a dining room set of which you can be proud? We have the right kind and our prices are right also. Complete dining room sets, including solid oak dinine room table, six oak chairs, buffet arid china closet Xmas Presents DRESSING TABLES You might just as well admire one of. those swell new Dressing Tables in your own room as in our store. Our prices per mit it. v; mm We want to show you our new Aluminum Roasters. Just the thing for the turkey din ner tliia TlianksKiviiiK mid for the nt'xt twenty Thanksgivings. They wear forever and keep on Riving tlie bent ronnted Mtnlilen. Now is the Time; and Moore's is the Place. Something New Exceptional- line of Hall Clocks, Wall Clocks, Mantel Clocks and Clocks for all pur poses. As usual, the quality is high and the prices low. They will please you. Go-Carts for Babies Is there anything more important in your home than the baby? Why not let the little one ride when we are selling Go-Carts and Carriages at such little prices. My Prices are mak in? this the lead;:;? . Store in -I.IHHHH.II..III.I. .hi in If you are in the market for furniture, you will do yourself and your pocketbeok an injustice if you don't call and investigate the possibilities of money saving at Moore's. And at the same time you will have the satisfaction of seeing merchandise of the very best quality at prices that are rapidly making this store. Salem's chief furniture establishment. We will be glad to see you at any time come today. ' Offer in Range Dept. iicc, a iij.i,ccii-yuuiiu tumcj. a" vi ; j . to all sizes and orices of ranees inS lA 4 U' Li-.. ...mi " iviuure win present, yuu wun a PrieS. $42.50. $45, $47.5011 1 turkeys are FREE. FOR THANKSGIVING $44.50 and LADIES' ' DESKS For ( convenience and stylish appearance nothing" can excel our line of Writ ing Desks for ladies. Large selection, pretty designs, low prices. Nothing you can buy for the house will bring greater comfort . and satis faction than a good Couch or Daven port. We show an excellent variety of styles and sizes 5 EjSHitr A 15 Lb. Turkey Given Away Buy that Range you have needed so long and get a Turkey for Thanksgiving YOU NEED A NEW HEATING STOVE NOW These chilly mornings and evenings make it mighty uncomfortable without a good reliable Heater. Without a good furnace heating plant in your house, a heater is abso lutely necessary. But even with a you will find a great deal of comfort have the right kind of a heater. We sell just the right kind and at prices that make them real economies. Let us prove it. Zfy Salem : . Y - MiiW ""-iiiiiii .ijJLiiiiiLin i i m . in w.MiiMM W-..m- m,mnam$Y'?l III mm m -J rr-v nu t Up ROCKERS When you think of Rock ers, think of Moore's, where a stock of sufficient size and variety to satisfy every need and taste awaits you. You can never have too many good rockers in your home. Library Tables Your . choice of some of, the moat beautiful Library Tables. ip the north . west at thi.s store. The prices 'will please you. WallPaper Good Wall Paper is im portant in' the decoration of your home. We sell the Kami kiml .. lit . iirict-s .. lower than is asked in many stores for an,, inferior grade. Hundreds of styles from which to select and every one of excellent qual ity. Let us show you some real wall paper. fi furnace if you 5:- nt m si hi. i 1 m f toil B -jgfltihtMiiiii'iii uMiirrr" ' ' ' v' p VnirlW'.N"'''''1'-''" ' i i 5 If