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About Daily capital journal. (Salem, Or.) 1903-1919 | View Entire Issue (March 4, 1916)
jOHNNY:oj$ 'i. THE SPOT! iGIVES- 'UP. f M KGTTA . II II f rTir rT? if in? t i 'ui ' U ' Foreign Relations Cause of Stock Depression New York, Feb. 26. In spite of ex ceedingly stmulating home conditions, the market exhibited a depressed under tone which at times developed into gen eral weakness. The chief reason for re newed selling was the unsatisfactory drift of our relations with Germany; the fear of a split between congress and President Wilson, and the steady pressure of foreign liquidation of Am erican securities in this market. In home trado there is slight abate ment of the remarkable activity which lias been going on for several months. Western business continues active and railroad earnings although somewhat affected by the congestion of traffic are making exceedingly satisfactory re ports. Bnnk clearings also reflect gen eral activity, the total for the third week in February showing an increase of over 50 per cent compared with a year ago and the gain being well dis tributed over all sections of the coun try. Our steel industry is phenomenal ly active. Prices continue to soar and manufacturers and buyers alike appear perplexed over an extraordinary situa tion. Many plants are sold ahead to the eud of the year at highly profit able prices, and indications point to a continued pressure of orders. Railroads are in a position to buy more freely, 1 and are placing liberal orders for equip ment of all kiuds. In some cases the de lay in traffic has been owing to inade quate rolling stock, and this deficiency will soon be rectified. It is quite with in the range of probability also that the railroads will put into effect long con templated improvements. What with im proved, earnings, and a more reasonable attitude of the public towards our great transportation companies, the chief re straint upon railroad development has been somewhat dissipated, and the out look is really better than it has been or several years. The chief cloud now overhanging railroad managers is the labor problem. The demand of the em ployes are now being more or less dis cussed in the open, and there in a fair y of cattle to BVnd for Mm mm. m t't.'.'t.Sa chance of a satisfactory solution being reached without any such serious con flict as at one time feared. The labor situation in the coal regions also ap pears less threatening, the impression being that by meaus of arbitration any disastrous breach will be averted. There has been a falling off in new foreign orders for war munitions and comparatively few repeat orders are be ing received. This was not unexpected for tho reason that the allies have al ready provided themselves with facili ties for producing munitions upon an enormous scale at a much lower cost than in the United States. Henceforth our manufacturers must expect fewer foreign orders, though it is not likely that they will altogether cease. Steel manufacturers anticipate a continued supply of orders from the railroads, from ship builders and from our forth coming preparedness movement, which it ia probable will require liberal expen ditures. Tho home building trade has also revived in a remarkable degree and this means a large consumption of iron and steel in construction work. In many of the subsidiary Stool industries there is also a sharp trade revival. Other branches of the metal trade are having a generous share in the boom, notably copper, the demand for which continues upon an unexampled Bcalo in spite of the fact that prices are the highest on record in modern times. As a result, the securities of the steel, copper, oth er metallic and the chemical industries have shown more strength than other sections of the security markets. Our foreign trade reflects changing conditions. The fact that the munitions movement has already reached its zen ith is plainly evident, many items un der this head now showing important declines. Breadstuffs exports showed a decline of $15,000,000 iu January and cotton a decrease of $25,000,000. We have now reached the season when ex ports usually decline, and in view of the smaller shipments of war materials we may look forward to more normal con- Dumper Grain Crops -Cood Markets High Prices Prizes Awarded to Wealem Canada for .Wheat, Oatn, Barley, Malta and Qrateem The winnings of Western Csnada at the Soil Products Exposition at Denver were easily made. The list comprised Wheat. Oats. Barley and Grasses, the most important bewg tlie V prizes lor Wheat and cuts ana iweep sune on nuaiia. V No leas important than thesplendidqualityof 'Western Canada'; ONo Iras important than the splendid qualityot western Canada s wheat and other grains, is the excellence of the cattle fed and f:iitned on the grasses of that country. A recent shipment Chicago topped Uw market Uk that ciiy lor Quality ana price, Wwten Canada produced in 1915 - J mock, whut ",3Ba til of too Unite sums, as- vv,ww.wvw !StVci. : nmnnrtloo to nomilatinn has ( areater exportable ir auroiua of wheat tins year than any country in the world, and at tT oimetit prices vou can future out the revenue forthe producer. 1? lnK.lir" 1 a r.Hl will find .! rkl. .i.i)k !. i- 7 v I. tj,,.i.il onditioM. rf ct ,Jimu. m,l n(hr IT "it ltrctxmi. 'CPV HUmm la ua us oo land aud ooncllJ"S. IKvXnttd samohW sn ass lor r rsw HIT"1 " If" as w smt X I. Critra, Car. Id t rt Its. tyMtkaN, Nash. 1 Camdlsa Cevtrnawot Atsas. THE PATLY C4PTTAT, TOHRNAT SAT.P.M. OPffflrW ditions in our foreign trado. This will make the control of foreign trade bal ance a much mre manageable affair. Imports are tending to revive, and the continued heavy mtlux or American se leurities tends to prevent further unde siruble importation of gold. Great Britain is moreover discouraging im ports; a factor which will tell unfav orably in the long run upon our ex port trade. The only offset to this is the improved status, of the foreign ex change situation, wnicn a year ago was assuming very threatening aspects. This is a complication which does not appear iiKely to occur again. Tho money situation continues satis factory, loanable funds being abundant at comparatively easy rates, and this in spito of an enormous expansion of the loans. Tho latest report of the coun try's national bunks shows an expan sion of $1,010,000,000 in loans compared with a year ago. This is the largest ex pansion since 1911 when the increase was nearly $400,000,000. How much of the increase has been due to loans on returned American securities it is im possible to determine, though in this connection it may be mentioned that the loans of the New York associated banks have increased $1,000,000,000 luring the year, and that ot tins am ount over $70,000,000 represented loans on investment securities. This phenom enal expansion of loans proves that in flationary influences are operating in an irresistible manner. These must be attributed to operation of the Federal Reserve Act, to the remarkable iniorta tion of gold and to the general inflatory results of the wtir. Fortunately tho cash reserves ot the country s national banks chow an increase for the year of in.'i,uiu,uuu. There is one feature of the situation which is not all that might be desired, and that is the crop outlook. Our win ter wheat acreage promises to show a small decrease owing to contraction iu the muI ii. At the same time a very considerable . portion of the winter wheat crop has been winter killed. Ac cording to the present outlook there U no chance for another bumper wheat crop in 1910. It is too early, however, lor crop prospects to become an im portant fuctor in the business situation. The immediate outlook is exceedingly uncertain. If homo influences rule we should have nn active and advancing marsct, out tney uo not. un the con trary tins market is dominated more than ever by the disastrous conflict acrnsa the sea. The pressure of foreign nominga or America u securities in con stant and must continue in view of the enormous loang still pending. Confi dence is also easily disturbed by any pornicioug activities emanating from Washington. If any improvement were to develop in our relations with Ger many it would be quickly felt in the se curity markets. HENRY CLEWS. WILL LECTURE N SALEM The fimt lecture in a general account ing for the subordination of the state commiscions at Mem will be given to night, when Dr. D. W. Morton, of the University, will speak there. A course jn general accounting will be given on Friday nights at the capi tal city which the subordinates of the railroad commission will be required to take. It is being given at the request of Clyde P. Aitchiarin, member of tho public service commiskion, who spoke at the unlvcmity (he firrt of the week. Eugene Register. 1 REPRESENTS U. S. IN CARRANZA'S CAPITAL fl I ' , I ' 1 d t J James Linn Rogers. James Linn Rogers, consul general to navuna, was selected as u. fr. represen tative to tho do facto government of another Henlri lit his luH. frwlnv. Hi, il. senate of Hrnry P. Fletcher's nomina tion as aniDascauor to .Mexico. Jt ir understood that Consul John R. Silli mnn. who hnt ben travlini with Ciir- ranza as V. 8. representative, will be transferred to uuanaiajara, one ot ttie important Mexican consulates. "THE MULLIGAN GUABDS" We crave your condescension anfl will tell you what we know Of marching in the Mulligan guards from the Seventh ward below. Our captain' name is Casey, a Tifpor- ary man, Ho carries his sword like a Bussian duko whenever he take command Chorvas. Shoulder arms and march And march away. Out Baxter street, way tip to Avenue A I The drums and fifes they tweetly, sweetly play As we march, march, march in the Mul ligan guards! The band plays "Garryowen" and the ( onnemarra pet. With a rub s, dub s dub we marc-j through th mud with a military step. With tho green above the red, boys, to show where we come from, Our guns we lift to a right tbouMer shift as we march to the tap of the drum. Author Unknown. Rimebiirg'g Htrawberry Carnival wiU be held May 18, 19, 20 of this year. The officers of the association are: W. J. Weaver, president; Ham 8. Josophson, secretary, and M. F. Rice, treasurer. The remaining members of the commit tee are J. r. Baker, B. W. Bates and Owiar J. Lindeey. SATURDAY. MAR. 4. I91fi. National Baby With Much Washington, March 4 Babies of four colors and two nationalities were tho center of attraction in 2,029 commun ities in the United (States, Alaska, the Philippines, Canada and the British West. Indira today. They will hold the spotlight for the succeeding six days of National Buby Week, inaugurated by the General Federation of Women's clubs and sponsored by tho Federal Children 's Bureau. The babies don't know it, but they are the reason for hundreds of nursing courses, child welfare exhibits, win dow decorating contests, bazaars, es say contests ntid general meetings plan ned during the week in tho United Htatcs and its possessions, not to men tion again Cnnudu and the British West Indies. Wisconsin proposed a state wide com mi iii to place emphasis nn adequnte musing, care unci instruction for pros pective mothers. Texushas its own baby week slni'im, "baby heulth is Texns wealth," Mississippi has a slogan of its own. North Dnknta is holding nn esay contest in public, schools. A Colorado ;ttlement 40 miles trom a railroad, a woman's club on a western reclamation project, a Montana coal mining town with a large foreign population, a southern mill villnge and severnl fnrm women's clubs ore holding celebrations. Child welfare exhibits were prepared hy women's clubs in Omaha and Lin coln. These, will bo sent throughout Nebraska. A Maryland town will have a, birth registration day; a merehnnt has promised a tooth brush to every mother who goes to the city hall to find whether her baby's birth is registered. Another city inaugurated a competition for tho cleverest widow plan. Manila will have it meetings during the week j the babies on two Indian reservations will be brought from their wigwams, if their paronts still affect wigwams, to share in the enlighten ment, and to blink boredly during tribal Conferences concerning them. Albany, Bultimore, Boston, Cleveland, Milwaukee, Minneapolis, Philadelphia, Richmond, Pan Francisco, Washington, and other large cities have program. New York will have a bnby week of its own lata this spring. Many rural com munities have announced their inten tion to participate. Plans differ, in some respects, in all of the 2,000 cities. But if all the cele brntions are the success the Children W Bureau believes they will be, Interna tinnal Bnby ough: to rise several points before the market closes next Hatiir day. Springfield, 111., March 4 Half a mil lion mothers' "little dnrlin's," includ ing white babies, black babies ond chocolate colored ones were fed, cuddled and groomed today for the opening of Illinois' first Baby Week. From Waukegnn on the north to Cairo on the south the Infants prepared to open the week with a grand bawl. "We are going to crown tho babies kings and queens in Illinois next week," Dr. C. St. Clair Drake, seere- PMMTING. Week Open Interest Shown tary of the stato board of heulth, which arranged the event, announced today. "Every city of any importance in the state has determined to participate, with baby shows, mothers' meeting.!, public lectures nt wnich the best way to core for infunts will be told, and even the churches will help by devoting sermons tomorrow to babies." Illinois realizes, snid Drake, that some cuddling, dimpled fist belonging to an infunt from the corn belt inny hold tho nutinn's destiny some day, and that some girl bnby with dimples in her chunky little knees nuiy grow up to be the fir.it woman president. "We want to make them all fit for these honors," Drake snid. "The fute of all nntions rests with their bnbiey. Good babies for Illinois thnt's ouri slogan." j ill uuilllliill 111 inn ciniitiMir, vinirii will terminate next Mundiiy in " review i day," most, of the cities will observe j ! the following schedule. .Sunday Buby Buinluy in the churches, I Monday Little Mothers' dnv, in wlich children will bo taught the prop. er enre of in fun In. i Tuesday Fathers' and Sons' day wli.'ii physicians will lecture to men ub'. nt haliics, Wednesday Mothers' day, when physicians will tell mothers about pro- nut til influence. Thursday Demonstration dny to show mothers how to bathe, dress, feed and sing bullies to sleep. Friday Community day, to arrange' 'special conferences with milk dealers i and food handlers. I Saturday Permnnent organization I uW- I Sunday Review duy, with a howling iwindup. MT. PLEASANT NOTES Mrs. Nick Zimmerman and son, Geo., of (-Sublimity, end Mrs. H. benz called ; at the Joe Hen homo Wednesday. Hazel Lambert and C-lair Michael,! 'of Lebanon. Htcnt th wcek.eml u f IV j H. Lambert's. L'lmor mid Cnrn lfnv neiit Smulnv at Don MeKuight's in Scio. The MisM's Verna and Koxona Shimk called at tho P. U. Lambert home Fri-1 day evening. Miss Miimniie Zimmerman and Jobs! Willing spent the week-end tit the 11.' Senx home. ! Fred Smitb and Melvin Shank were Sunday visitors ut the John Huber home. Mrs. H. It. Shank called at the H. Montgomery home Friday. i Ona Shelton and family were Sunday visitors- ut the W. K. Kay homo. Tho Misses Lulu, and Gludys Downing and Francis, Josio and Muttie Kloer were Hiindny callers at Jid Smith's. Mr. and Mr. M. V. Ryan and daugh ter Angelina, Mrs. if. Shunk and daugh ters Grace and Crytnl end son Melvin. B. F. Lambert und Krnest Aegerter at tended the entertainment nt tho Stuyton high school Friday evening. ( V At Last A Bunion Remedy v f a That Affords Immediate Relief And Effects A Positive Cure JiifI ask fur a package of "BunionCtnnfort". Hiuoneoiuuiil UicMwin will vanish l-kemugic. If you have a bunum, no matter how lurge, how swollen, how puinl'jl and Imw distorted the i'lint may be, use just one "Bunion CormWt" and yon will obtain instant relief. Buy a box today try one or two plasters utid if vou aie nut entirely satisfied, simply retiti n'tlie remainder and get all your money back. ' Bunion Comfort" have cured over 72,01)0 men and women the pa;,t year they can cure you Why continue to suffer, when here is a guaranteed iiuUut rclicl? Your money back if they fail. H a J. C. Perry, Drussist, 115 S. Commercial Street Lewis Ray called at the Mrs. II. Wliiink home Monday. Mrs. P. II. Lambert spent the week end with her daughter, Mrs. W. K. Brenner, of Hlnytnn. A dunce was given at the If. Sen, home Saturday night. A luriie crowd attended and all report a good time. Sliiytun Mail. DEATH OF MRS. McRAE Mrs. Miiry K. McRue (Mary E. Low r.y) was born in Shelby countv, Mo., April 5, 1 Si 7, and died ut her hno in Slnytoii, Oregon, February 2H. 1IIKI. She was married to D. N. McRne. near Clarence, Jlo., in Istill, at wliih place tho rt-.-siiled until 1000, when she moved with her family locating six niilse south of Salem. Thirteen ycur lutcr she moved to Stuvtnn whera mI.,. remained to the time of' her death. Her husband died seven years aco. Sbo is Burvived by two brothers. Jus. Lowry, of Monroe City, Mo., and A. J. LOWTV. Of Amitv. Oreiron. tu,,. daughters, Mrs. Rosa Kimsey, of' Bun iu, vrcgon, ann airs. AliU) Murphy of this city, and one son, Everett McKac, of Sulem, ulso seven grandchildren. A nephew, Alfred Lowry, and wife of Amity, were with the family at tho timo of her death. Mrs. McRne was a memtw tho Baptist church all her life anil women jovcn and respected by all witt - . . ' . T nnom ne came in contact. The funeral was held Wednesday March I, nt the Christ inn church oi this city, Kev. K. L. Putnam officiating Interment was in the Lone Oak ccme tery. Stayton Mail. I Perfect Harmony must exist in the digestive system in order to get the bent value from your food. When the stomach lacks tone or strength, try a bottlo of HOSTETTER'S Stomach Bitters