Daily capital journal., January 04, 1916, Page TWO, Image 2

Two
THE DAILY CAPITAL JOURNAL, SALEM, OREGON, TUESDAY, JAN. 4, 1916,
Social
ALIUS THOMPSON
THE first of in enjoyable series of
social evenings to be given by
the Young Woman's Christian as
sociation was held last evening at their
attractive new quarters in the Koth
building.
Go the first Monday of each month
the club will be opened to the young
ladies of the city and they are invited
to assemble for a congenial evening,
followed by refreshments.
The personnel of the committee in
charge of these social evenings are
Mrs. Ooorge Pewthercr, Mrs. L. Tweed
ale, Miss Angeline McCulloch, Mrs. W.
O. Aseeln, Mrs. A. D. Palmer, Miss El
lea Tbiolsen, Miss Gertrude Eakin and
Miss Grace Smith.
Mr. and Mrs. C. P. Bishop were hosts
last evening for an artistically ap
pointed dinner.
The table which was aglow with viv
id red poinsottias and brilliant candles
had covers for twelve.
Miss Ida Simmons, who WSJ the
New Years and week end guest of
friends in Portland, returned Sunday.
Tonight Mr. and Mrs. R. M. Hofer
will preside over an attractive stag
dinner, their guests numbering twelve.
Monday evening the Cherrians held
their third annual banquet in the din
ing room of the Hotel Marion.
Toasts, songs and professional cab
aret entertainers from the Hotel Ore
gon were speciul features of the even
ing. following the banquet about twenty
two new member were initiated.
Attorney General and Ms. George
IVrirwD and daughters, Margery and
Ivlene, returned Friday evening from
Itoiwburg whoro they have been the
holiday guests of friends and relatives.
Friday Mr. and Mrs. A. dinger's
norae was the scene or a merry gather
ing when friends and relatives called
to. celebrato the Oliuger's fifty-ninth
wedding anniversary. Mr. and Mrs.
Olinger, who are well known residents
of Salem, were married in Peru, Indi
ana, in 18Dt). They have seven chil
lier., one being Dr. Hurry Olinger of
inn city.
Mrs. R ,B. Houston, who has been
cojourning with her husband for sev
eral weeks in California, returned in
day evening.
While south, Mr. and Mrs. Houston
visited m Sau Francisco and Santa
Bosa.
Mr. Houston did not accompany Mrs.
Houston,
Mr. and Mis. Gerald Volk entertain
ed with a New Veins watch party and
dinner.
The table which was prettily ar-
cal of the season was circled by Mr
and Mrs. E. A. C'aiy. who have been
visiting with the Yolks; Mrs. Matilda
Orant, Mrs. A. Houck and Miss Laura
Cirant.
The attractive new home of Mr. anfl
Mis. B. A. Shaver on North Cottage
ctreet was the scene of a pretty six
s 'clock dinner New Years evening.
Mr. and Mrs. Shaver 'a guests num
bered eight.
t
The ladies of the I'ringlo and Pleas-
lint Point social club entertained their
families and friends with a bountiful
New Years dinner at the Pringle
school house.
Long tables well laden with edibles
were arranged in the room, around
which "athercd forty-five members of
the club an I their friends.
Kven the Inclement weather did not
prevent a goodly attendance nor less
en the cheer of the occasion.
Those present were: Mr. ami Mrs
.T. N. Robertson, Mr, and Mrs. K. S.
Coates, Mr, and Mrs. 1J. Vnnderbilt,
Mr. and Mrs. A. ('. Steingrube, Mr. and
Mrs. Clifford Jones, Mr. nud Wis. E.
C. Best, Mr. and Mrs. W. 11. Clark, Mr.
and Mrs. C. ('. Harris, Mr. and Mrs.
Hoy Ohmart, M, uml Mrs. K. Cooper,
Mrs. C. H. Cannon, MrB. W. R. Robins,
Misses Grace Kobi .tsou, Enda Cannon,
Kthel Smith, Phillis Best, KlaUie
Hteinnihe, Margaret .loues, Virginia
A Woman's Troub!
? Tronlflfiln. Dm.
troublPl with
weakness from
which women suf
fer and after tak-
lug two bottles of
Doctor Pierce'i
avorito Prescrio-
j. vi.m & wna entirely
3 mi;.i h Mu
,i hi; m, kiiidi
M. K. Johnson,
Tnmtdale.Ort'Kon.
Tbe mighty restorative power of
Toctor Pierce'i Favorite Prescription
peedlly causes all womanly troubles
to disappear compels tlia organs to
Iroieriy perform their natural func
tions, corrects displacements, over
romos irregularities, reinovei vain and
misery at certain times and brings
back hoalth and strength to nervous,
irritublo and exhausted women,
For nil dlscnnei peculiar to women,
Dr. Pierce'i Favorite Prescription Is
m powerful restorative. For nearly
M) years it liai banished from the
lives of tens of thousands of women
the pain, worry, misery and distress
caused by irregularities and diseases
til a feminine Character.
What Dr. rierw'i Favorite Pre
Kiription has done for thousands It
will do for you. M it this very day
from any medicine dealer, In either
liquid or tablet form I or lend AO cents
o Dr. Piore. Invalids' Hotel, Buffalo,
JJ. Y., for trial box of tablets.
Qutiitioni ot Sfxt Are fully and
jwoperly answered in The People's Com
mon Heme Mediool Advisor, by R. V.
1'ierce, M. D. Jt contains the knowl
ttlge young man or woman, wife or
-danghtflr, should have, 1(X pages
with color plates, bound in cloth, lly
nail, prepaid pn reooipj el 3 U'wm
stamps, "
is1 l TV;! -7 II
- -J V-VA 1-.7V r
Personal
Beat, Fern Harris, Messrs Frank Clark,
Percy Robins, George Gucrne, James
Coates, Keith Harris, Arnold rremery.
James Harper, Lester Robins, Wayne
Harris, Vernon Coates, Allen Jones,
Howard Steingrube, Lee Ohmart, Ellis
Harris, Homer ilest and Donald Can
non, Officers elected at the last meeting
of the club were as follows: Presi
dent, Mrs. Clifford Jones; vice-president,
Mrs. E. G. Clark; secretary, Mrs,
.1. M. Coburn; treasurer, Mrs. L. W,
Potter.
t
A pretty and simple home wedding
was that of Miss Elva Dundas and
Herbert Flagg, of Seattle, which took
place at high noon on Monday, Janu
ary the third at the home of the
bride 'a cousin, Mrs. Claude Townsend,
on mu u street.
The Rev. R. N. Avison of the First
Methodist church officiated.
The ceremony was performed in the
presence of a large number of friends
and relatives.
Mr. and Mrs. Flagg will honeymoon
tor several weens in Washington, visit
ing the sound cities.
Mrs. Mable Zozel Reynolds, of Port
land, was a week end guest at the home
of her parents, Mr. and Mrs. William
lozel, of Liberty.
Mr. and Mrs. Roy Shields have as
their houseguest the latter 'a sister,
aiiss iiiiciie ratty, or Amity.
1 IdUJVlllUttJ
The Rev. T. B. Ford went to Corval
lis this morning,
Del Tedrow, of Silverton, was a Sa
lem visitor Monday.
Mrs. C. H. Button, of Silverton, was
in Salem yesterday.
Carl T. Morris was in the city yester
day, from Philomath.
Judi'e R. S. Bennett, of The Dalles,
is in the citv on legal business.
Mr. and Mrs. J. A. Trather, of Al
bany, were in the city yesterday.
Jacob Van Lydegraff returned yes
terday after a short visit in Portland.
Rev. S. S. Mumey, presiding elder of
the Kvangelical church, is in Corvallis.
Attorney Fred S. Lamport is home
after spending several days in Port
land. Miss Mary Yantis left for Newport
yesterday for a month's vacation for
her health.
Miss Edna Purd.v returned to Orcnco,
after a week's visit in the city with
her parents.
Francis Galloway, of The Dulles, son
of Judge Galloway, is in the city on
legal business.
W. B. Smith and family, of Port
land, were visitors over ?ew Years
with 0, L. Sperling.
Mrs. E. A. llolton returned to Port
land yesterday nfter a week s visit
with the Albert family.
Milo Thompson, of Salem, arrived
here last evening to upend a few dnvs
with friends. Roscburg Review.
Mrs. Kirk, of Carlisle, Pennsylvania,
is visiting her mother, Mrs. E. L.
Briegs, of South Nineteenth street.
Mjs. E. T. Albert and two children
returned to her home in Portland yes
terday after a week's visit in the citv.
L. .1. ( hupm went to Corvallis this
mornint to attend the fnnners' instl
tute of tho Oregon Agricultural col
lego.
A. L. Sperling mid family, of Inde
pendence, returned to their home yes
terday after spending several days
with reinnves nere.
Mr, and Mrs. James Bnrber. nf Sn
lem, left for their homo last evening,
nner a rew (toys spent here with
friends. Eugene Guard.
A. B. Kurtz, of Salem, who had been
been visiting his brother. J. B, Kurtz,
and family here, returned home yester
day. Roscburg Review.
Mr. and Mrs. P. Kellv. who conducted
tho fish mbnrket up to n short time
ngo, moved yesterday to Salem, where
tiiev Have rented a chicken rnnch Mr.
Kelly is considered nn expert chicken
raised. Springfield correspondence Eu
gene ininril. .
Married Men Cannot Long
Steer Clear of Conscription
By J, W. T. Mason.
(Written for the 1'nited Press.
New York, Jan. 4 Publication of the
returns from Lord Derby's enlistment
campaign indicates that if the British
army Is to be increased by conscription,
married men cannot long escape.
About (iSO.OIIO single men uvniliible
nre small compared to the total of 2,
800,00(1 men who have responded.
Scarcely 600,000 unmarried shirkers
win probably pass the etsts, nud their
influence on the outcome of the war
hardly count unless the struggle con
tinues years longer.
After them, the fnthers of families
must prepare for sacrifice. This will
have weight in determining lubor's
nttitudo toward conscription. The
high wages of the war have permitted
England's workers to raise their stand
ard of living. If the married men nre
called to war, the government fnmily
allowance would plunge families into
misery where they hud only floundered
before. Trade unions, however, oppose
nbnndouing concessions once won from
capital.
BUNK BY COLLISION
London, Jan. 4, The 7.0.11 ton P. &
O, lincT (leelong lies today at (lie bot
tom of the Mediterranean, the victim
of a crash with the 2,Sili ton British
steamer Bonvllston off Gibraltar. All
aboard the Geelong were saved and no
damage to the Dnnvllslnn was reported.
This wss the second P. ft O. liner to
meet with mishnp within a week. Tbe
first was (he Persia, torpedoed last
week.
i New Today Ads. ons cent Mr
! word.
3 Household Economy
2 How to Have 4k Best Const jx
5 Kerned? and Save 11 h? g
i Making- It at Hoaie fi
Cough medicines, as a rule contain a
large quantity of plain syrup. A pint of
granulated sugar with pint of warm
water, stirred for 2 minutes, give you
as good syrup as money can buy.
Then get from youn druggist i ounces
Pinex (50 cents worth), pour into a pint
bottle and fill the bottle with sugar
srup. This gives you, at a cost of only
64 cents, a full pint of really better cough
syrup than you could buy ready made fir
12.50 a clear saving of nearly $2. Full
directions with Pinex. It keep perfectly
and tastes good.
It takes hold of the usual cough or
chest cold at once and conquers it in 24
hours. . Splendid for whooping cough,
bronchitis and winter coughs.
It'i truly astonishing how quickly it
loosens the dry, hoarse or tight cough
and heals and soothes the inflamed mem
branes in the case of a painful cough.
It also stops the formation of phlegm in
the throat and bronchial tubes, thus end
ing the persistent loose cough.
Pinex is a highly concentrated com
pound of genuine Norway pine extract,
combined with guaiacol, and baa been
UBed for generations to heal inflamed
membranes of the throat and chest.
To avoid disappointment, aalc jour
druggist for "2 ounces of Pinex,"' and
don t accept anything else. A guarantee
of absolute satisfaction, or money prompt
ly refunded, goes with this preparation.
The Pinex Co., Ft. Wayne, Ind.
America May Modify Her
Position About Armed Ships
Washington, Jan. 4. Secretary of
state Lansing today informed Uerman
Ambassador Von Bernstorff informal
ly that the state department ia consid
ering modifying its position concerning
guns on merchantmen.
The gun issue arose with the tor
pedoing of the Lusitauia. Germany ut
first contended she was nn armed shin.
though it was understood that she Inter
withdrew this contention. When the
German fleet had not been swept from
the seas, America took tbe position
that small guns mignt be mounted on
merchantment as a defensive measure.
Lansinir told the ambassador tlmi
changes in naval warfare, reaultinir
from the extensive use of submarines
and the absence of German warships
from the sea had resulted in America 'a
changed position.
it was uuotticiully stated in Teu
tonic circles that should it develoo an
nusinau suDmanne sunn the Persia,
ur.irm win nisisi me commander had a
right to do thus in view of the armed
condition of the Persia; moreover, it
is uuuersiooa Germany will back Aus
trin in such a position.
An important phase of the issue
hinges on the question whether a liner
carrying a gun is Immune from attack
oy submarines without warning.
EEAL ESTATE TRANSFERS.
J. F. Potter to D. B. Will, part sec
tion -i'-u-o-r..
L F. Willard et ux to Clara L.
Sehiiefer, lot 4, block 20, Nob Hill
addition, (Salem.
Piles Cared In 8 to 14 Diva
Druggists refund money if PAZO
OINTMENT fails to cure Itching,
duiiu, meeuing or rrotruding files,
First application gives relief. 00c.
SEEN AT PALM BEACH
!;..', fid
"4U W
This charming set of hat, cushion
and work bag aie primarily designed
for the lar.y days at Pahn Beach, where
one ran sit on the sand and while
watching the waves busy one's self
"sewing shirts for soldier.". The en
Hi' combination Is of old rose. The
sweater is on of old rose lud white
stripes. The hat Is an old rose creation
and the skirt is a whits corduroy one.
I i
MUNICIPAL LIGHT
F,
White Recites Example of Eu
gene Where City Owner
ship Has Paid
In iiis annual message to the city
council last nieht Mayor Harley O.
Whito spoke strongly in favor of a
mnniciral water plant and a municipal
light plant. He cited the example of
Eugene with its municipal light plant
which is now returning a profit of
$1,000 per month to the city and is
furnishing electric energy at lese than
one naif of the price that prevailed
when tne city plant entered the field.
Mr. White also advocated permanent
concrete bridges in place of the wood
en ones end stated that a city paving
plant next year weuld be able to put
down first class pavement at the low
est possible price.
, Tl o message to the council follows:
The Mayor's Message.
Gentlemen: In presenting my annual
message to yon, I first want to thank
the retiring council for their good work
ot the past year.
Tho work of the council hag been
marked by the utmost harmony.
We nave not always agreed on every
question that has been presented here
but every member has been sincere in
In a views and if defeated has taken
hii defeat and continued the work to
the best advantage of the city.
We have gone through the year and
accomplished results that have counted
ant', will benefit the city in the fu
ture. A few years ago, we had outstand
ing endorsed warrants amounting from
25.000.00 to $40,000.00 at the end of
each year but this year we will close
our books without any warrants out
standing against the general or stroet
funds which is certainly a great result
beercse we have been" forced to meet
obligations that were not t'orseen one
year ago and no provision made in the
budget at that time.
nilc our tax rate is high, there ;is
going to be very little chance to show
much reduction for a number of years
on -u'couut of meeting the bonds that
have been voted ,on the city by the
voters and over which the council has
no control.
If it was not for our bonded indebt
edness, we would be able to make a
very low levy, not exceeding eight
miJIs, which about covers the actual
running expenses of tiie city.
Tax Levy Is Low.
Even with our large bonded indebt
edness, our tax levy is lower than cities
of Biniilar aize in the northwest.
We should practice the etrictet econ
omy during the coming year but not
false economy that would hurt the city
in the conduct of business.
Acting under the charter amend
ment voted by the people, tbe citv dur
ing the past year iias constructed about
yiu.uov.uo worth of main and lateral
sewers and at a great saving to the
taxpayers.
This work should be continued as it
has proven a success in every way and
has far exceeded results hoped for.
We have secured better work and at
a saving of thousands of dollars and
best of all, have been enabled to help
home labor and especially men with
families, at a time when work is scarce
and it was essential that work be pro
vided for their relief.
Acting in conjunction, the Engineer
ing department and street committee
nave built a number of permanent
bridges at a great saving over contract
prices.
This system of only building per
mancut bridges sholud'be followed out
so that in a few years, we will be re
lieved of this large expense and have
bridges and culverts that will stand
for a lite time.
It is simply throwing money away to
uuini woouen nridges that are only
good for a few years at the best nud
always a source of expense and dan
Ker. For City Ptving Plant.
From all indications, the citv will
have more street paving the coming
year than in Me past year and steps
should be provided so that the city can
install a Plant and do this work.
From the results that this county has
had and other cities in the northwest
who have tried it, we should be able to
lay pavement tiiat will stand any class
of wear and usage at a far less cost
than we have been raying under the
contract system.
And we will know that we are get
ting value for what we pay out because
under the city it will be to the Interest
of the city to see that only the best
pavement is laid in order to keep t.ie
miiintninaiice cost down as low as pos
sible. We should as soon as we can ascer
tain about what we will have to pave
this year, take steps to secure a plant
so that when the season opens we will
be able to commence, work and com
plete it duritig the good weather.
1 have been informed that we can
secure a new street to the fair grounds
without cost to the city and that the
owners of tho property are willing
to pnve the street as soon as opened
und the work can be done.
New Street to Falnrrounds.
From all Indications there is no
ct.nnce to secure the consent of the
pirperty owners along the Fair Ground
road to paving and I believe that tho
city should drop this street as a means
of reaching the fair grounds, open the
new street and have it paved by the
coming fall.
This matter should be taken up at
cine so (hat all arrangements ran be
nu.ie and (he work completed iu ample
time.
Tin; new street contemplated would
connect with an improved street and
would only require a few blocks of
pavement to connect the city wi(h the
fair grounds and would furnish a paved
rond that has long been needed and
(hal this city should sen is completed.
1 trust that this matter will be look
ed after promptly and that either the
street committee or a'fepeeial committee
will take the mattnr in charge aud
havs the aecesnary streets opened aud
surveys made as quickly as possible.
Water Supply for the Olty.
As outlined in my message last year,
I think that the city should own its
own water supply and furuiBh it to tho
citizens as nearly at actual cost as is
conducive to good business.
Within a short time, I except to send
in a special message in regard to this
matter thut will cover all the details
and outline several plans that can be
possibly worked out so that the council
can select what they think is the most
feasible- plan and have it submitted to
the people for action.
Do not think there is any doubt in
the minds of the majority of the peo
ple that the city should conduct this
business although there is, of course,
some difference of opinion as to how
the result should be accomplished.
Light Plant
I am a firm believer in the city con
ducting the light plant as well as the
water supply for the city.
We Lave a contract that is to run
four years more but steps should short
ly be taken so that when that time ex
piree, we can have in operation a plant
large enough to take care of the pri
vate business as well as the street
lighting of the city.
There are several available sites
along the rivers near here that will
lurmsn all the power needed and can
be secured at a nominal price.
The city should take steps to secure
their water power right now and not
wait until all sites are taken and then
in a few years have to pay some spec
ulator a large sum for grabbing gome-
thing that can be obtained at a very
low price now.
It will take from two to three years
to install a plant and have it ready
for operation and the coming election
we should submit some proposition to
be voted upon so that the city can be
ready wnen the time comes.
I believe that a water power can be
otitained at a cost not to exceed $10,-
00O that will furnish several times the
power used in a city of this size and
will take care of our light and power
lor many years to come.
International and Domestic
Financial Review for WIS
By J. W. T. Mason.
(Written for the United Press.)
New York, Jan. 4. At the close of
1915 the war has cost more than twenty-six
billion dollars, exceeding by five
hundpred million the total national
debts of the six principal belligerent I
powers wuen inu cuiimci ueKtiu. iiu
the exception of about $1)00,000,000
raised in the United Kingdom by taxa
tion, practically all the expenses of the
war have been met by borrowed money.
The end of 1915 therefore, finds the
fighting nations saddled with double
the debt they had accumulated in nil
the centuries preceding the outbreak of
the war.
In the early days of the war the
most liberal estimate of its cost, was
fifty million dollars per day. Tho act
unl expense now, exclusive of economic
and property lofses, eighty-five mil
lion per day. Of this amount the
Quadruple Kutente is paying two-thirds
and tho Teutonic allies one-third. If
tbe war continues through the winter!
me cost win pronaoiy rise io a Hun
dred million per .lay. The interest for
war loans which the war has already
imposed on Europe's future genera
tions is about a billion, two hundred
million per yoar. Every week the war
lasts fixes an additional annual in
terest burden on the belligerents of
twenty-five million.
Tax Burden Colossal.
Colossnl taxation will have to be im
posed on the soldiers when they re
turn home after peace is declared. The
belligerents will be bowed beneath the
buriens of the war debts. Tho Ger
mans for a time this year believed it
might be possible for them to evade
their cost of the conflict by compelling
the Quadruple Entente powers to pay
a full indemnity. Dr. Helffcrich, the
German minister of finance, made this
statement in the Keichtag last August.
But as the year's fighting continued
with constantly increasing expendi
tures, the Germnii government changed
its inind about the possibility of any
belligerent being able to escape from
the financial net. Dr. Helffcrich
therefore announced a fortnight ago
that although Germany might collect
an indemnity, yet the wnr would im
pose "a colossal burden" of new tax
es on the Germans.
During the year, various British
statesmen uttered warnings concerning
the iinnii.'ial outlook. And the possi
bility of bankruptcy overtaking Europe
has several times been mentioned in
the house of lords. All the belliger
ent governments have become uneasy
about the monetary outlook, but the
system of running the wnr on borrowed
money has prevented the people them
selves from feeling the financial pinch,
except in Grent Britain, The British
government, is now raising about five
hundred million per year for war costs
by direct taxation; but no o ..er nation
hns as yet seriously increased its peace
taxes. The British tax, large ns it is,
does ro more thnn meet the interest on
the government 's war borrowings.
France Is Preparing,
The war has compelled the rapid ex
penditure of such unprecedented sums
of money that it 's difficult to believe
the warring governments will continue
the strain J'or another year unless one
side or the other sees the possibility
of a complete victory. No decisive
success for anybody is now in sight.
Kven if either group of belligerents has
the power to force the other into bank
ruptcy, it is not probable that power
will be applied. The Injury which
would be done to the most robust of
the warring nations would not justify
the infliction of a eouditiou of insolv
ency upon the enemy.
Prance la leading the other nations
in taking preliminary steps to recover
from the financial blight of the war.
The northern areD of France now in
the enemy's possession is one of Eu
rope's most, important manufacturing
centers. The factories will have to be
rebuilt, and new machinery must be in
stalled, after peace ia ' declared. A
French commission ia now In the 1'ni
ted States studying American labor
saving devices and American methods
of production. Factory output in the
1'nited States Is between and 8
Istimes as much per man as it Is in Eu
rope, ir, after the war, France can
adnpt herself to American methods,
the French factories will at least
doubh their productivity and Frnnce
will be able to care for her war debts
and (row richer at the same time. If
Europe at large is to make a speedy
The chances are a liule delay and we
will he liable to pay several times this
amount for the same powor.
Eugene Sets Example.
The city of Eugene several years ago
installed their own plant and it is at
present time, paying over $1,000 per
month profit above ooeration expenses
and sinking fund reserve.
Thoro is no reason wo can not do as
well or even better.
And their rate is about the same as
ours ani the city is not as large.
In tiio course of a few years, their
plant will be paid for and they will be
ablo to reduce very materially their
rate.
As a matter of fact, their rates are
about one half what they were before
tho plant wag installed.
In closing, would suggest that we use
sound busincs judgment in treating the
various matters that will come Detore
us for a decision.
. We aro hero simply as agnts of the
city in conducting their business and
should use the same care in conducting
their business a we would with our owu
business.
We should use especial care in all
matters comma before us that appro
priate money an! do our best to keep
tho expenses down to as low a figure
as possitoe and still give a good ousi
ncss administration.
All laws should bo vcrv carefully ex
amined to see that they aro just and
do not work hardship upon any class
or individual.
We should be very careful to pass
all resolutions and ordinances iealiug
with assessment so if we ar obliged
to defend any such actions in court, we
can go in to court, knowing that every
thing is legal and win stand.
In conclusion, desire to thank the re
tiring members for their courtesy and
support, the pa9t year and trust that
' same pleasant relations will con
tinue for the comin year and that we
may ad work unitedly for tho progress
of tho city ot Salem.
recovery from the war's distress, the
example of France must be followed
by all tho countries alike. On Europe's
ability to copy American industrial
methods therefore, depends the effect
of the financial burdens wnn-n tnc war
is fastening on the bucks ot the tux
payers.
A Different Picture.
Prosperity is written in letters of
gold across this country's financial
record in 1013. Uncle Sam has nlinost
half a billion dollars more of foreign
gold than he had a year ago. American
merchants havo sold nioro goods abroad
than ever before. The greatest exter
nal loan in history, the Anglo-French
was floated in 1915. The market value
of American securities appreciated
something liko two billion dollars 111
tho 12 months. National banks have
bigger deposits and lurgcr reserve
than at any time since tniB country was
founded. A wave of speculation swept
tho country and permitted tne -New
York Stock Exchange to close 1915
with a boom as explosively bright as
the year's beginning was dull. L'n
smirched uy the fuiluro of n single
member, tho 1915 record of the New
York exchaiigo is crowded with stories
of newly mnde millionaires and sprink
led with fifty-million-share trading
days.
More than 160,000,000 shares of
stocks wero traded in during the year,
representing nn aggregate valuo of
more than fourteen billion dollars; and
nearly nino hundrod millions worth of
bonds. In 1014, only 4S,0;il,83 shares
changed hands, icprescnting less than
four billion dollars; and the bond is
sues was only -)-IO,4:iS,00. The war
caused tho stock exchange to close four
months in 1914, which partly explains
the comparatively small business. From
the dnrk, uncertain days of curly Jan
uary, J9io, with minimum prices and
other wnr restrictions, business in the
world 's biggest stock market gradually
developed until million share trading
days . becume almost common. Thoro
were fifty of these million share days
in 1915, only two in 1914, none in 191.1
and 11 in 1911. There were fifty in
1909. In Junuaiy, 1915, only about
four million shares wero dealt in; in
October almost thirty million shares
changes hands. Mirny days in the lat
ter part of the year were almost mil
lion share days; that is, when business
ran well over nine hundred thousand
hiire. Minimum price were abolished
April 1 un.l from then on the market
boomed.
The war babies and war bride stocks
of companies manufacturing wnr sup
plies for the belligerent countries fur
nished more spectacular fireworks 111
1915 than Wall Street had witnessed
since 1001,' when J. J. Hill and K. 11.
linrriiuan sent the market into convul
sions by their tight to buy control of
tho Northern Pacific railroad in the
open market. Bethlehem Steel's un
rivaled jump from $42 to $000 a share,
closely trailed by General Motor's ad
vance from Krt to $540 and V. S.
Steel's rise nf HI points are a few ot
the high spots in tho year's boom mar
ket. Fifteen stocks, including motor, elec
tric, steel and equipment and indus
trial securities, appreciated just $570,
(Hi5,2S in the year. The aggregate ap
preciation of all stocks and bonds .011
the New York exchange is near $2,000,
000,000. V. S. Steel increased a hun
dred and fifty-five million in value and
Hctltleheni Steel, about X5,000,00(I. The
steel corporation has more than live
million shares of common stock issued
with Bethlehem steel hns less than 150,
000 shures oulstanding. General Motor
common increased $75,00(1,000 in value;
General Electric, $;t,."i:i 1,000; Anacon
da Copper. $119,927,500; Sdidebnker,
.t:ifi.590,:t9rt; Willys-Overland. $:t2,NO0,
000; American Can, $14,900,000 and
Crucible Htecl, $14,747,000.
What tho war orders received by
these automobile and equipment com
panies total never has beeu disclosed,
but they run high into the hundreds
of millions. A company whose stock
is selling on the New Vork curb mar
ket. Submarine Boat, received over
$125,000,000 of European war orders.
What tho figures aro for orders placed
with Bethlehem Steel, Wcstinghonse.
Crucible Steel and the Steel corpora
tion can only be conjectured. In pro
portion to its sle and Importance (he
New York curb hud one of lis bes(
veais. War stocks In the outside mar
ket gave half a dozen cm b traders
1
They Can't
Wait
The Children can hardly
wait for the cake to come.
The tantalizing odor of
cake baked with Merit
Vanilla has captivated
them. A 25c bottle is
real economy.
At Your Grocers
profit enough to purchase seats on the
Big Board the Exchange. The price
of a seat on tho Big Board has practic
ally doubled in the last year. Early
in April the prico for a membership on
the Exchange was $3H,000. In Decem
ber a seat Bold for $72,000.
One of the most important events in
the financial history of 1915 was tho
groat Anglo-French half billion dollar
loan. In tho middle of tho year a com
mission of English aud French finan
ciers headed by Lord Beading, Lord
Chief Justice of England, came to this
country to raise war funds. A com
mittee of prominent American bankers
was formed, dominated by J. P. Mor
gan & Co., fiscal agents for the allies
in tho United States, nnd after many
conferences .tho amount and terms of
tho bii war loan were fixed. It was for
$500,000,000 with intrest at 5 por cent
a year to be sold to the public at 98,
which gave almost 6 per cent of a re
turn to the investor. After the details
wero arranged, a syndicate of Ameri
can cankers was formed which agreed
to hold its bonds from the public mnr
ket for 60 days. On December 15, this
syndicate expired and the bonds, hav.
ing been publicly listed on the New
York Stock exchange, were publicly
traded in. They went as low as 04 1-iS,
but wore bought as thoir low price
meant even a higher interest than 6
per cent. Less than $200,000,000 of the
half billion loau was put on the open
market, bunkers and bond houses which
were members of the syndicate, with
drawing over $;i00,000,do0 of the en
tire issue.
Financiers who have watched the ro
uiurkuble course of events in the last
year, predict that 1910 will see oven
greuter expansion in both tho financial
and industrial life of this country.
HEAD STUFFED FROM
CATARRH OR A COLD
t Says Cream Applied in Nostrils
I Opens Air Passages Right Up.
Instant relief no waiting. Your
clogged nostrils open right up; the
ai passages of your head clear and
you can breatho freely. No more hawk
ing, snuffing, blowing, headache, dry
ness. No struggling for breath at night
aud your cold or catarrh disappears.
Got a small bottle of Ely's Cream
Balm from your druggist' now. Apply
a little of this fragrant, antiseptic,
healing rrcnm.in your nostrils. It pen
etrates through every air passage of
the head, soothes the inflamed or
swollen mucous inenibruue and relief
comes instantly.
It's just fine. Don't stny 6tuf fed
up with a cold or nasty catarrh.
WII1AMETTE NOTES
Classes resumed this morning after u
vacation of over two weeks, and a feel
ing of contentment seemed to possess
every student in knowing that they
were back for real work again. Most
of the students came back yesterday, al
though a few came in on morning
trains. The students from Idaho report
that southern Idaho seemed like reul
winter weather as there was consider
able snow und cold weather. They were
equally surprised, however, by the win
try appearance of Salem. Several Wash
ington students have not arrived yet
but will perhaps show up today. That
grown-ups, who are unaccustomed to
snow, enjoy it as well us children is
demonstrated by the big snow-fort
which stands in front of Luton hall.
Prof, ilermnn C'lnrli, of Halcm high
school .together with Prof. F. McMillin
of Willamette, will give a demonstra
tion of tho uses of liquid nir. The
demonstration will be given in the high
school auditorium eillier Wednesday or
Thursday afternoon, us the liquid nir,
which comes from San Francisco must
be used the same day of its arrival.
Dr. Carl G. Doney addressed the stu
dents ut chapel this morning and spoke
of the system of discipline nt West
Point Military ucademy, where it is
based to a large exien"( upon student
honor. This system. Dr. Doney said
he believed was one that was very suc
cessful in achieving the best results in
eollego as it caused the individual to
shoulder responsibility nud thus aided
him in deciding between two alterna
tives. Maunger of Bnskettiall ,T. R. Bain
announced that the season tickets for
basketball games on the Willamette
floor were now available. Ench stu
dent ut u late student body meeting
promised to sell one ticket, nnd with
this understanding the management hna
scheduled tho heaviest series of gnmes
that Willamette hns ever had.
The vnrsity will play their first game
with the alumni and then on Juuuary 12
the fust University of California team
will be played. Just what the result
will be nono are w illing (0 predict, but
Conch Mathews is building up a team
which he says is going to he a winner,
and with such assurance tho Willam
ette "Bear Cats" should bo able to
show tho Poinsetta stnrters a good ex
hibition of the popular game.
"AShlnaln
Every Drop"
Get a tan today tram
rur hartfwatv er gn
aary asalerb
Si
M
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w
SB