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THE DAILY CAPITAL JOURNAL, SALEM. OREGON, SATURDAY, DEC. 16, 1916.
New York Is Bathing in
Flood of Gold and
the Tide Still Flows
PIRITS
Muilh into lb' market. Southern bun and employer during Iran holiday
u ua the exehange in the punt of 1912, before th European wax.
month b- amount! J to practically Of eatlrat all the recorj breafciag yM ,h,.M1 rverJ jv.
nothing. Xoar it amount to million. peofita do aot rome directly out of lrui. their form is human
South Americana Too. the aale of jmwjer aad shrapnel and yt houae they live in, clav.
Willum '. Vaa Antwerp, nM-rnur h xuital nolir. bttl ia traduli' in war Tk aiaaaanaf their aTaaaiHaun
, of the atock exehaafe, agrerd. eiplain J walnut flint in behind the great Faahioued not by human baud.
Not Enough Wires.
'Hut the in.'lueni-e of mt foreign
buHiiieHa ia mora iyttifii-ant to my
mind," he aoid. 'Soutb American are
i mi- into this market a the reault
Rv Lnwell Mellett
(United PrcaH Staff CorrearMmdent.) ' So anxious are the west and the of condition in London and I'ari that
New York !,(-. 16. New York ia aoutb to dump their money into tbe I have hut them out of their usual
rolliag, revelling, iollkking .n wealth.: New York stock market, the Western market. Th w.lum; of busiaes, from
This ia a "never before in hitnrv ' ' "ion aim ine American leiepnnne anu;" m-i- i im",,,,",- , wn
glory leiegrapn cumpunii's rnnnoi .oviue.
New York banks today held reanrvpa ' enough wires to accommodate them,
of 818,7!4,2O0 nnd from cwrv quar- Hundreds of miles, it was learned to
ter of the globe money is pouring In day, go by the board simply because
.. vnlb.w mU bv th;' millions to the wires cannot carry the offers.
be chanced from the coin of other ua When (lennany' peace proposals on
Kroui Kurope ll.e cables are carry
ing nn eiioimous lnines to New York.
The iurri-HHO in our foreign listiugs has
lieeu largely responsible fur tbe gen
eral iurrcaae of ybout five hundred
stocks handled by the New York stock
tiona into the roia of the I'. S. A.
Wall Street has become a gambling of stocks into tne exennnge since me
table on to which is being thrown 'silent panic " of 10". the selling ord
money from the earnings, winnings and ers of these western and southern trad
aavin'gs of Americans anil money from T1 did not reach the floor of the ex-
the coffers of kings. change until late afternoon. These out
While the large majority of New of town speculators, who generally buy
York's six millions are fighting the piny the mnrket long lost in the
universal, desperate battle with the shakedown, while a large bulk of the
high cost of living, on the surface It j professional traders uf the Wall Street
appears that cvcrvlHidy has money to district had sold short and took profits
spend. They are sending it for neces- on the decline.
ait ion and luxuries. So furious is the trading on the
Forty or more blocks in Manh-ittan j stock exchange that the tickers sup
are given over entirely to that ancient posed to keep every broker's and
trio, wine, women and song. War banker's offica in even touch with
eignteen
Tuesday caused the greatest dumping . exchange. From liOO, our listing-
bride dividends have given night time
Broadwny a new life. Men whose busi
ness it is to take money from send
ers say thoy never wero able to take
so much of it before.
Babylon Not In It.
Ancient Babylon could be set down
11. it i ' ..!. ' . , i... nlnumirn
maiQC 111'W lorn B nn'in
quotations, some times art
minutes behind the market. Even in
the cotton and grain exchanges busi
ness has become too fast for the tele
graph wires aud the tickers frequently
lag five, or ten minutes behind.
Lambs Ready for Shearing.
And lambs are so plentiful that I
i thai, t-t,., iumiIi . in ri,ii.t MiM'tmnS . ' .. W
n m ' " ' J" - - nnixui.llll'l, VI i M "'.
ajaaajare trading by- wire in tbe Itavka of; TKe banker- aad brokers have it to
III -!iev :uw. ! zive this rear and tbei will ncer mm
' it. The muIv -light cloud on the hori
xon of thj; professional trader at this
time of good will is tbe suggestion
from tlermany of ",ae'. But this has
been blows again entirely away by the
chill wiads which greeted ia tbe en
tente capitals.
On a million share day in the stock
ex-hange the profit to the brokera, iu
lound numbers, is i.'iO.tM.M). Actually,
the profits of brokers are much greater
because the tubulated figures comprise
only stocks bandied in hundred share
Iota or more.
18,000.000 In Month.
Brokers dealing directly on the New
York stock exchange received $3,000,
000 iu roinniiious in the month of
November off the Hading ill lots of a
hundred or more, it was estimated to
day. They had this much income if
they didn't earn another penny. But
there ia no law against a broker buy
ing or selling stocks for himself, which
is one way big profits are made.
We 'vc been too busy handling
other people's orders," one broker com
plained ruefully, "to do much for
ourselves."
There is the-case, however, of one
young man who workers as a stcnog
rapher a eyar ago aud is now said to
have $2.'iO,O0O of his owu stowed away
in the bank, the money made out of a
brokerage business set up on 18,000
canitaL His operations have all been
rounds without being noticed; Ne-1 bright young man who started a mag I
Buebadnc.zar arOOian t nave a royuwr nzinc lor tneir special Treatment rour
tion outside of his own block. i months ago is a full blown publisher
OabaTeta have sprung up like niush-l today with it big circulation nnd ad
rooms and dance halls thrive as in J vertising.
jay new gold camp. j 'The south and west," answered R.
'Business is three times bb big as T. Ilalsey, chnirman of the finance
the biggest we ever saw lie.t'ore this j committee of the stock exchange whun
season, ' ' said the manager of the . usked today for an explanation of the
largest cabaret in the city. six two million share days and the.
Hotels are crowded, theaters are sold twenty -one one million share days on
ant. Crowds, that the "shop earn exchange during the past month.
"" "The people ot the west are trading
in New York stocks in a way none of
cks ,.yPr aw before. They have money
as a result of the big prices for crops
JUI' and they are making more of it here,
many of them. The good cotton prices
I likewise have put the people of the
the
slogan do not account for fill
jartment stores.
Warehouses are depleted of i
and deliveries are far behind.
New York is spending its mone
jetting what it can for it.
But it keeps pouring in.
have been raised to 1700.
'New York undoubtedly will retain
most of this new stock business after
the war. Iu fact, are expect to see it
increase and this ity to remain per
mauentlv the financial center of the
world."
Much Straight Inrestment.
At least a third of the stock ex
change trading is straight investment
Yau Antwerp declared. As for the
speculation, he said the stock exchange
is exerting every effort to keep the
market free of manii illation and that
every safeguard the governors can
conceive has been thrown about the
trading.
'The very immensity of the busi
ness now being done," he said, may be
expected to bring on a call for con-
...... ....... 1 ;,-natirrntinn Whothcr it
does or not, the stock exchange intends
to keep its record clean.
William Shenrer. manager of the
New York clearing house, says his of
ficial statement on the banks in the
clearing house, at the close of last
week's business showed the banks to
be carrying $73,790,840 more currency
than required by luw. It showed also
that the total reserve, then in the
banks' vaults, $347,720,000 was in
actual hard money.
To Distribute Drippings.
The drippings from the overflowing
vats of fat, rendered in Wall Street
from the munitions trade with warring
BttTOpe, will be distributed this week
and next to employes as Christmas
gifts that will break nil past, records.
The fat drippings of today would
have made a. feast for both employes
on the curb market.
Tn the stock exchange with a $7),000
seat paid for by the firm for whom
he was a telephone reporter four years
ago. is Robert F. llanke.
Most Wall Street stenographers,
however, will K" without seats on the
exchange. Thov will have to be con
tent with gifts' of $100 to $500. The.
latter sum is the figure predicted to
dav for the smaller wage earners in
the banking house of J. P. Morgan aud
company, though formal announcement
of tho firm's plans has not been made.
NEW TODAY ADS WILL BE
read in the Journal in all live
Marion county homes Try 'em.
'
Rev.-al the inuer presence
Uf the master, whose command.
Is written at the entrance,
That index of the soul,
Which we call couuteunuce.
Iu motley throng which surges
O'er life's bustling thoroughfare
I see not fonn and substance
Which the outward icrsoiis bear,
Mark of poverty, or riches.
Of joy, ur endless care,
But I see the master spirit.
Clothed iu rags, or garments rare,
fringing iu the mortal conflict,
Or standing, conqueror, strong and
fair.
Some are dwarfed by narrow vision
Of the calling which they choose,
Seeing only self-advantage
From the instruments they use.
Knocking right and knocking left
At the spirit which they meet,
Trying hard to down a winner,
Seeking harder to defeat
Any earnest soul In wresting
From misfortune, comforts sweet.
In a blind self approbation
They behold another's fall.
Clouting o'er the spirit smarting
'Xeath the rod which chastens all.
Knowing not, thnt whom He loveth,
God. the Father, sendeth trial,
Purging them of every error,
'Til the chastened spirits smile
At the evils which beset them.
Knowing they are conquerors still.
Out of stony grief there blossoms,
Faith, which triumphs over death,
Courage to renew the conflict.
Strength, which grows with every
breath.
Patience, and humility,
Meekness, and the majesty
Of calmness which the tempest stills,
Pours upon the troubled waves
Of dark distrust, aud stubborn wills,
Oil, which noble thought distills.
Some, how beauteous their dwelling!
Fit for kingly spirit's sway;
Clothed in raiment rich and costly,
Blessed with pleasure's smiles each
day.
But, beneath the fair exterior
I behold a spirit small,
Pride and arrogance exalted.
Greed and lust enthroned o'er all,
Virtues of a kindly nature.
Traaplrd on as leaves ia fall.
Others! Oh, tbe joy of meeting
Those who know the spirit 's strength!
T i listing not to mortal weakness,
Seek to span the breadth, and length.
Height and depth of faith and love,
Born norof flesh, but from above.
Faring forth to meet life's duties.
They impart a healing ba'ni.
And rereal life's hidden beauties.
To lost souls stbirst for calm.
Theirs the proem task to lighten,
Hojie revive in souls despairing.
Saddened heartf to cheer, and brighten
Paths made dark by wrongs un
righted. Theirs the spirit calm, unshaken,
Clothed with meek and quiet niieu.
Karnest of the spirit dwelling
'Neath the Father's smile, serene,
Jjjvidence most surely telling,
Of a spirit strong and clean. J
Let 'the slander mongers prattle.
O'er vain faucies let them gloat,
Let the critic roar and rattle,
'Til they split his precious throat.
Yet the soul whose fit it h is anchored.
Far beyond them, and above.
All the discords they engender,
Still may hope, sin.l still may love,
still may hear, above the clamor,
The sweet harmonies of tiod.
As yoe mountain peak in splendor
Rears her stately crow n of snow
Far above the shallows gathering,
'Round the foot-hills down below;
Piercing cloud, and mist, and shadow .
(listens iu the sunlight 's glow ;
So the spirit, truly noble.
Dwells above the shadows dense
Which envelope grosser natures
In the realms ui mortal sense.
Vera Schaupp Frickey.
Lake Counlv Examiner: Will G.
frteel has resigned as supervisor of Cra
ter Lake National park and has been
named as United States commissioner
for the park, according to word brought
by H. E. Momyer, who has just closed
the park for the winter and returned
to Klamath Falls. Momyer, who for
years has been assistant supervisor un
der Steel, now is acting supervisor. He
will hold this office until a successor
to Steel is named.
STATE NEWS
Wedding invitations, announcements,
and calling cards printed at tho Journal
Job Department Prices right.
Sell it the Journal Want Ad Way.
Journal Want Ads do the trick quick.
The north jetty at tbe mouth of
Columbia river is reported 87 per cent
completed in the annual report of that
chief ut engiueers of the army, wbieU
is based on data at the close of tbe lasO
fiscal year ending June 30. He. osti
uialcs that the funds available, $1,290,
000, will be exhausted about April,
1917, and that !'7"i,0tKl carried ia tb
estimates for next year will euinpleto
the ictty aud keep going the dredging
on the bur to June 30, 19i8. Of this sum
it is proposed to use $tS2o,000 for new
woik and $125,000 for maintenance.
During the last fiscal year, says thi
report, the north jetty was extended
ItSl feet to the end at a cost of $11,073,
and 600737 tons of stone were placed!
at a cost of $1,140,803. The governing
depth of the main eutrunce ou the bar
is placed at 30 feet, with 31 feet at the
north and south cut ranees, and a maxi
mum draft with smoth bar at low wa
ter of 30 feet.
Portland Journal: The national for
est ranges of Oregon aud Washington
are being taken advantae of extensive
ly by sheep raisers for grazing purposes)
said District Forest Ranger George".
Cecil, in Portland Small bands of from
20 to 300 or 400 sheep are to be seen.
The grazing is considered distinctly val
uable for furnishing mutton, . lean !?
up weeds and adding to the income of
the ranch.
This is quite a concession for tho cat
tlemen to make, according to Mr. Cecil,
but it is more interesting in that it indi
cates the coining of a more diversified
system of management on the interior
ranches, as well" as being a factor in
keeping the supply of sheep, already
considerably decreased by the home
steading of much of the public rane.
The city of Ncwberg owns a group
of springs, with combiued flow of 300,
000 gallons per day, for municipal water
supply, and on December 18 will vote
at a special election on a proposition
to buy an additional spring that haB a
flow equal to all of those now in possession.
Why the Journal is popular
It prints the world's news to-
day while it's news.
CHRISTMAS
BnamnOHManaSHI
iniiniiiiiiiiiiiniiuiii
mm. Lfii Eiffl
This is the Christmas for use
ful giving and all Electrical
Gifts are useful all the time.
An Electric Heater Saves the Children many a Cold
A Truly Wonderful Electric Set
Percolator, Teapot, Stove, Ilk Warmer, Egg Boiler and
Cereal Cooker combmed m one present
An Electric Washer
$65 and Up
Of course is the one big present and the one that pays for
itself and you have nearly a year to pay for it.
An Electric Toaster
$4.00
Ml
A sensible gift the whole family will enjoy. Makes piping
hot toast at the table as needed
THE ELECTRIC COMPANY Sgj
Other Gift Suggestions
An Electric Saving Cup will be appreciated by him
Coffee Percolated
At the Table is Coffee made right. This would be a fine
Present for Mother or Sister-$7.50 and Up.
Sewing Machine
Motors $15.00
A year round appreciated present that is a health saver.
Buy your wife one
Electric Vacuum Cleaners
aW Li I. JL M ' B
i r i iir i i ff li i iimnnv
dtate and Commercial
Electric Sewing Machine Motor, $15.00; Curling Iron, $3.50; Heating Pad, $7.50; Milk Wanner, $1.50; Hot Water Cup, $7.50; Buffing Motor, $25.00; Shaving Mirror and Mug, Radiator, $6.50;
Portable Stove and Oven, $6.00, and Range.
la
A gift that will certainly be appreci
ated by mother or wife. Saves lahor
and discomfort makes cleaning ;
quick and easy. Takes all the dirt
and germs from draperies, rugs,
bedding, clothing, etc.
Our Special Christmas offer-Electrical Cleaner
delivered for $5.00 and then ten months to pay the
balance. This is your opportunity.
MimimwwimiiiiMHHim