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About Daily capital journal. (Salem, Or.) 1903-1919 | View Entire Issue (July 11, 1919)
THE DAILY CAPITAL JOURNAL. SALEM. OREGON. FRIDAY. JULY 11. 1919. rir i i -1 i4 Germany Perfectly Able to Make Reparation Says Clews New York, July 9.- (to gu wi'.li the floudiidr fur the time ; being; kivpuij a sharp lockout for evi-;iii'iK-i's of returning ebb. Limitations of the Money Market. There is one. and perhaps only our. ffeetusl restraint upim the d'Mlip intent of dangerous speculation from , . 'such extraordinary eonditiou and that MirniH la nm irromilnr ti the minnsl must is the IllOliev maiVet. Fortunately it 1 treaty aroused very little ethuj:asm also wait ratification of the gas limit u iaiij uri. V.imhIt- tiltlN.'lut.ii llV C3ra Xo.,1.;,, raf.FiH IV,. r t.ttikimr in. the jar of the occasion having fully ei treaty, wtieh, though signed raauot go !,titutim 1-assed through the test of IkiusIihI itself at the armistice, wkiie the into foil, practical operation until for-jwar in splendid form, and their re cerem un- at Versailles simply confirm- 'uially ratified by all tho countries con- jsoureos have not been impaired despite ed a long expected event. Germany corned. Until our senate ratifies the the enormous load imposed on them kes her subiuiration verv arai-elr. He treatv and President Wilson lirmlaims by government and other financial otv paration for damages which Germany peace the 1'uited States will be tech- ierafioiis. The demands upon them will, j bnd exieeted the Aities to par ioi- nieally at war with Geriuauy, and the however, be very heavy for niany !. a heavy burden ntmu her people, trading with-the-eneniy art forbidding 'months to come. The government must but not more than she caa pay. A cuii-jcomiuereial intercourse still remains in continue to be a heavy borrower on ;derable lHrtion of the ina-ninitf will! force; though it ia not bcymd the shoft time uutil our war expenses have j be raised by ships, aihieral.s aid' other range of jwssibilitiei thut a iartial re- boon more closely paid. Recently the . - property which bv treaty terms she ; sumption of trade with Germany may banks have materially lessened their I . must turn over. Such payments will be permitted before all technical re-; holdings of government obligations and '. lessen the amounts to be paid ia taxes, 'quireflieiits are complied with. will be well able to proffer the aid j treasure or bonds. The Allies have eer-i A Bright Business Outlook. j needed in this direction. The most set- j taiuly not overlooked the necessity of Independence holidays materially in- ious problem probably is the financing giving Germany a fair change to re- forested with business in the financial of our export trade, which has reached; nine work in order to pay off her enor- district, although Stock JKvehauge trail- such now ieldly proportion, and the re- j mous obligations. Of course, Uie Ger- sactions passed the million-share mark suiting abnormal volume of exports can ; man people have a series of hard lean on three days out of the four on which only be offset or diminished by mrour- years before them, which are simply the market' was open. Conflicting ten- aging other countries to pay either in just aud deserved retribution. liiit j dencios which def loped In June still 'goods or securities. Hereafter i's a mat-, Germany has great resources, asd doubt-1 prevail. There is a decidedly strong uu- ter of self-proteetiou credit to foreigu ! less when passion has subsided and dertone in the market, aud Sv me shares countries will be granted with increas more normal feelings return her peo- scored sharp advances which however, ing precaution; although a liberal pel-; pie will resruiu much of their material were not always easy to maintain. On icy in this respect is absolutely imper f prosperity. A contrite Germany would, the favorable side of the picture we'ative for the rehabilitation of Kuropo, b isten such an end more thin anything have a most assuring outlook for busi- in which we are as much interested as else; and if Germany really wishes to.uess, based chiefly of course, upon our Kuiope itself. America must set aside recover her prosperity and re establish extraordinary frigricJulttural prosperity, its provincial habits und recognize that her standing among "nations she must; We next have the revival consequent 'safe and profitable investments are to j make amends cheerfully aud euHivatempon establishment of peace, the re- be found in Europe and elsewhere as the spirit of friendship" in M sincerity 'sumption of many pre-war acfivities.'well as at home.. Another demand fore- ' I rather than the vicious spirit of linte'aud the urgent necessity of making up ed upon the money market is the leg i d worship of force which wrought lost time and lost work during the itimate call of domestic trade which; her ruiu and wrecked a.-great empire. ; war; the latter being conspicuously no- is not only largo in volume but much, Ormnny deliberately threw a monkey-'ticeable in the real estate and building 'swollen by high pricces that materially I , wrench into the world's economic mach-! trades, which would break out into a curtail the effectiveness of tankng re-, inery with results infinitely more dis ' genuine boom if financial limitations i sources. A striking example of what ahtrims to herself than to any of herjdid not prevent. Another powerful stini-jthese demands promise to be is found, enemies. " ulnnt is the tremendous expansion iu'in the statistics of new incorporations,1 Our Economic Disorders. 'our foregn trade and shipping, concern- the amount of which reported in the I From a purely economic standpoint, ling which expectations still run very , principal states for June was $I,S."iU tlie commercial world, though straight-! high. Finally we have the element of 000,000. This ia the biggest total on eniug itself out, is more or less topsy- (inflation in nearly every line of busi-j record, except in March 1901, when the torvy. Abnormal conditions created by I iicsb, the power und potentialities ofjVuited Htates Hteel Corporation was war seem to disappear very slowly; and I which are not always fully appreciated. formed with a capital of $1,100,000 'WO, our business machinery has not yet had 'Today inflation is a real and very aud the total was $11)10,000.000. In time to recover from the confusiou 'powerful factor in our business life. It i.lune a year ago tse total was $127,000, erented by government control, uorad-Ihas always followed great wars; and 1000, and in 1017 $123 000,000. During jum. ii.scii io autoumiic regulation, it tins particular cataclysm nas oeen iio.uie itrsr sia iuuhmis ui mi- i-mn-m will be some time before government exception. As everyone knows to his the total was $3,700,000,000 against control is entirely eliminated either here j discomfiture commodities have risen $1,4(10,000,000 year ago. Among tho or abroad. In Europe a large measure .enormously, and beyond all reason. He-1 largest charters in June were the du or sueii regulation will be necessary for many months to come: probably uutil supplpy catches up with demand, which menus much hard work and con- curities alone have lagged behind. Psy- Pont Hecurities Company t2.")0,000 000, eholofv or the public state of mind, and the 1'uited Retail Stores Corpor haa not a little to do with the advance; jation $116,000,000. There are also a for while worldwide scarcity has been number of new oil, shipping and cheni- timieit patience. In tins cmuitry the tho mum lifting power, tho law of sup-jicnl concerns. During .the next mx rime holds true though iu a less de-ply and demand appears to be -tern pur- months over $'l"iO,(MMt,O0il foreign loans gree, because we have not felt the pangs arily impaired, if not suspended, by a placed in the United States will ma of houger, and much of the government ; universal breukdown of buyers' oppo-J turp, also some important municipal regulation had for its chief end the sition to high prices. As long as buyers and railroad loans a portion of which assistance of our Allies. While these vmisual (conditions lastf the law of tupply and demand cannot work with ts usual and beneficent freedom; for some restraint is needed upon the greed that 'profits upon the misfortunes of others; and with tilings as they are the free operation of economic law is will pay, sellers will demand; and noth ing short of exhausted purchasing pow er on the part of tho public seems like ly to stop the present unreasoning up ward niovemeiit in merchandise. This country i living in a state of exalted will be paid off and the balance re funded. A Strong Security Market. Despite three days' intermission the Stock Market showed striking strength and much activity. Not a few sharp ad prosperity, the end of winch is not yet vances were scored, but protit-taking seen: and hard-headed Dracticnl busi-'was frequent and held the advances tinnvoidably suspended or wade teryjness men consider it more advantageous within reasonable limits for it is well aSwday Bargain Day Jil eeT JPH (111 1 . K r Bargain Day Prices HERE'S JUST A FEW OF THEM Men's Elk Outing bals ..$2.69 Others ask you $2,95 Men's $8.00 Brennan Oxford, we will sell for S5.95 Men's $10.50 Brennan Oxfords, we will sell for 88.(55 Men's $14.00 Stetson Oxfords, we will .sell for $9.85 Men's $15.00 Stetson Shoes, we will sell for $11.85 Men's $5.50 Work Shoes, we will sell for $3.85 Men's $7.00 Army Shoes, we will sell for . $5.43 Boys $4.00 Calf Button, Neolin Soles we will sell for $3.15 Youth's $:?.65, same style, we will ?ell for $2.63 Ladies' $12.50 White Kid Lace, we will sell for $10.85 Ladies' $11.50 White . Kid Lace, we will sell for .? $9.95 Ladies' $12.00 White Kid Oxford, we .will sell for $8.95 Ladies' $6.50 White Reigrskin Loce, we will sell for $4.83 Ladies' $:5.50 White Canvas Pumps, we will sell for $1.95 Tig Girls' $6.00 Brown Calf Oxfords, White Neolin soles, we sell foi. . $4.45 Misses $:J.25 White Reignskin Lace, White soles, high top, 11 to 2, we will sell for : $2.60 Child's $2.75, same style, 8 to 11, we will sell for .-. $2.20 Misses' $1.75 White Canvas, 2-strap Pumps, we will sell for $1.39 O ID) O V 9 Vacation FREE GOODS FOR YOU, BARGAIN DAY, SATURDAY, JULY 12, AND CONTINUING -V ; ; ; ALL NEI WEEK THE FLAN y0U any two articles listed at a similar price, we GIVE you a . . , third one of equal value choice to be made by you "3 for 2." To illus trate. Buy any two 25c articles listed h3re and we will give you your choice of any other 25c article on the list. Buy any two 50c articles and there will be a third 50c article FREE. Wfth a purchase of any two articles, you have the opportunity of selecting a third article at that price, which you may have FREE. PURPOSE ms Pan was devfftopfici by the United Drug Co., the manufacturers of the articles, as an advertising plan. They sacrifice their profit to get wider distribution, and we give our customers the benefit of this price reduction so that each one can have more vacation comforts without extra expense. .These prices do not include war tax. ,air "" J Qgy 1 Articles Klenzo Tar Shampoo Soap REXALL TOOTH PASTE NUlii iIiOiiUMHSi'm A perfect deotiifice, antiseptic aoid deo dorant Cleans and whitens the teeth. Ccuies out flat ou the brush. A strictly first class Tar Shampoo Soap of highest grade. Gives a thick abundant lather and helps keep the hair and scalp in a healthy condition. One used always used. 25c a Cake, or FEEE if you purchase any eth er two 25c articles. 25c Or FRKG with a pur claa of any other two 25c articles. Violet Duke Talcum Powder H in u- antiseptic aud deo- J Jv 1 Ccuies out Hat ou the LrMfeff?: ;i 25c REXALL COLD CREAM Buy any two get one Free YioletDalce Talcum Powder Violet Dulee Shampoo Crystals Violet Dulee Soap Rexall Medicated Skin Soap Elkay's Straw Hat Cleaner Rexall Baby Talcum Rexall Nice Rexall Tan and Freckle Lotion Rexall Cold Cream Rexall Tooth Paste Perry's Tooth Paste Trailing Arbutus Talcum Rexall' Pearl Tooth Powder Riker's Peroxzone Cream 11 "i Articles The talcum for persona of refinement. Hade of the highest grade Italian Tac, doubly bolted and delightfully scented with Parma Violets. . . A necessity for Milday'i dressing labia. 25c Or FREE with the purchase of auy oth er two 25c articles. An antiseptic and healing cold cream,' specially recommei ded for chapping and rougliness of the skin caused by expos ure to sun and wind. Per jar, or FREE with any other two 26c articles. FENEWAY'S ASSORTED CHOCOLATES A luscious surprise awaits you. A full pound box of rich chocolate creams that melt in your mouth. The gift par excellence. One pound 75c and you may select any 23c article on the list free, or buy two pounds at the regular price and we give you one pound FREE. Buy any two, get one free Violet Dulee Cold Cream Violet Dulee Vanishing Cream Svta Face Powder A high-grade French pow der, especially imported for- us. In white, flesh, or brunette. Alma Zada Face Powder Violet Dulee Liquid ConK . plexion Powder Violet Dulee Complexion Powder Riker's Yiolct Cerate Cascade Linen Pound Paper Bouquet Jeanice Talcum Powder Ceylon India Tea (1-2 lb. Package) Scenic Linen Writing Paper PERRY'S DRUG STORE the 5 store 167 N. Ccml St SALEM, ORE. understood that a runaway market would meet wHh short shift from the money market. The favorable July re port on buHiiiMs condition bv the Fed- teral llcserve Board acted a a fresh Istiuiulnnt; as also did the brighter out lung for railrcad traffic, and reports 'from Washington-that an advance in transportation rates was imperative to ! cover current losses. It 'is further ex j peeled that railroad problems will re lecivp prompt attention from congress (after the president ' return, if the roads iare to he handed back to their own :er at the end of the year. The stel ; trade shows some improvement in ac tivity, which was reflected in market lvalues of the leading issues. In oil i shares dealings continue very heavy, iand over 12.1 concerns with authorized capital of :i.-,0,000,000 were ineoror ated in the principal states during June. tThis is the largest monthly total on i record. It is estimated thst the eap tital of new oil companies this year will nrrirniirnnto fullv ft film nun (If mi IV.i AMERICA (Hound-Rcbin version) My party, 'tis of thee, Hound Robin 0. O. P., Above our land; Boiea Penrose is our friile, Hi .Tohnwin our guile, By Bob ij& 'Pollette'a side With Iodge they stand. My R. R. tt. O. V., Our love and loyalty We jrive theo first; f'hil Knox will resdute. Hherman bis hnrn will toot, Fighting tie letigue with Root, Also with Hearst. Iet Borah swell the fcrec.ze, let Milea I'oindexter wlierio His hymn of hate; With sneers and jeera and tricka W'c'll play our jKihtica And teach the Bo,sheMk To scorn the state. I. B. LITTLER & COMPANY WATCH FOR THE ELECTRIC SIGN "SHOES" MM 4 MM hir party's boss, to thee W'r humtdy bend tfie knee, Thy name we greot; What though our count ry call. What though the world shall fall, W have one purpose, all Wilson to .beat, New York World. ling again touched a very low level owing chiefly to the heavy offerings of cotton and produce bills. Imports lire increasing somewhat, but not sufficient ly to offset the enormous outward move ment to supply European necessities. Dealings in kronen have been resumed and those in marks should soon fol 4jlw. Advices concerning the v. heat crop are satisfactory; tho harvest has lie gun, and cars are being rushed west ward to bring the product to market. t'otton indicates further deterioration 1 n 1 )s a fat nil TTTIV11TTI in condition, which, of course, means a DAKliAllI lJAl JULl lZlii smaller crop than enpected in May and a corresponding stiffening of values. HEXBV CLEWS. iTry Salem First In Ba Salem's a Good Place to Trade Nation's Corn Crop Now 100,000,000 Bushels Over Previous Record Harvest Washington, July 10 (United Tress) The corn crop of the T'uitod htates fur 1(tl(t today was estimated at 2,31.1, iMiOfioo bushels by the department of agriculture. This report e(i a record by more than 100,00(1,000 busnclt. The estimate was bawd on conditions July 1. The crop coverg appro!tiu.f.-toly 10;i,mtO,00 acres, it was slated. Kstimnted condition July 1 wag 86.7 per cent normal, which wag A per cent below the erop condition July 1, 1U18. Tho department estimated tho condi tion of winter wheat as 5.9 below the estimated enndtiion a month ago. Hpring wheat is 11.7 below tno eondi tion June 1. On this br.sis, the winter wheat crop was fixed at :s!),i(m,oon bu),,ieiR, mt (MHi.doii biishi l below the Juno J figure Hpring wheat WHS estimated to yield 3J,(MMI,01I0 bushels. , A yield of 1,403,000,000 bushel was predicted for the 1919 oats crop, aver aging 3X1 bushels per acre, FLEF;T SAILING hEt Washington, July 11. The new Pa cific fleet will si.il from llai.ipton Baads between 8 and 9 a. hi, July lit, Hecretitry Ilaniels announeediodav. It 1 due at Panama July 't and at San Diego August 7 or 8. Later it dl go MOST HOOS IN IOWA In number of hogs on furms, Iowa m by far the most distinguished state la this country. The estimate of the lm reuu of crop estiiuutea for 191S U ly.yioo hog in Iowa, G,724,0M ia Iltt miis, 4,943,000 in Ohio, 4,2.10,000 in Jm dimitt, 4,l!fi,0(H) in .Ohio, 4,2.j0,0OO i Nebraska, and 3,01.1,000 in Gcoigii. !:- cry other Mate is below 3,WiO,(Mt. Iowa's hogs are about one seventh mt the nation' total, and nearly doubttl the number og Illinois, the slate neat below. , Not a bit of this splendid food is wasted-it's eat able to the last atom. 'There's a Reason" for (irapeHuts to Los Angeles and San Francisco,