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About Daily capital journal. (Salem, Or.) 1903-1919 | View Entire Issue (Aug. 4, 1919)
THE DAILY CAPITAL JOURNAL. SALEM. OREGON. MONDAY AUGUST 4. 1919. PAGE FIVE When, as and if issued: An Opportunity for Investment for the Securities of , A Successful Northwest Industry 00,00' 7 Coupon Gold Notes of The Phez Company, Salem and Olympia Redeemable in Two Years or Any Interest Date Thereafter at 103 x Dated July 1, 1919 Maturity in Seven YearsInterest Payable Semi-Annually $600,000 Authorized ; $500,000 Issued. Par and Accrued Interest, to Net 7 Per Cent ' Title & Trust Company, Portland, Trustee. Interest payable without deduction for any Normal Federal Income Tax now or hereafter deductible at the source not in excess of 2 per cent so far as may be lawful Few concerns have grown so rapidly, and attained a national sale for their products, as has the Phez.Company. This issue is a consum mation of the consolidation of The Northwest Fruit Products Company, manufacturers of Loju and Appleju, and the Pheasant Fruit Juice Company, producers of Phez. , - From an experimental basis in 1913, this new Oregon and Washington fruit juice industry has grown to where, in 1918, the sale of their products amounted to $1,300,000. Phez, Loju or Appleju are sold in practically every town and city in the United States. Security for This Issue Plants And Equipment As determined by the General Appraise'l Com pany, Seattle and San Francisco, June 1, 1919 . $ 987,659.6:1 Liquid Assets Consolidated report as of December 31, 1918, by Whitfield, Whitcomb & Co., certified pub lic accountants, Portland $1,077,840.06 Total assets $2,066,499.69 The net earnings applicable last year to payment of interest were $120,000, or approximately three times the interest on total authorized issue. Plants Capitalization Protection to Bondholders Plants of the Phez Company consist of hh i 000,000 ,. common ..a oo 000 preferred, w ,, ,t ntt ttl t0 thrco t the 0ul9tlulllillg BolM iiiob stock issued ami paid up, $180,(100, leaving balance tni(1 mt9 1 modern loganberry juke plant at Salemj In the treasury. (3) It almll maintain not liqufa t at least equal i i. xt n o 1 1 i. a. lir jv. At this time, 100,000 of the preferred stock is be- ,0 v& ,imo, ,h munt of the outstanding notes of this plant MO. I, balemj plant at WOOdDUrn, jn tuken up by the officers and friends of the company . (3) It slisll not permit any lien, mortgage or other OreEfOn: ApplejU plant at Olympia, Wash- The money provided by sale of Note Issue together incumbrance against any of its assets, except ordinary o ' ff J r . . with this $100,000 is to retiro existing indebtedness of commercial leans. inertn nnrl rmw pnmnlptplv pntlinnpH 1f11v - V tnc 'TMT. which not stands in the form of eommer- (4) It shall not, during life of these notes, declare ingiun, dllUIieWjtUUipitieiy equipU jt-UJ .. f rial loans from banks." Conservative in their manage- ny dividend on common slock in excels of 6 per cent, iom ond nroMrvimr farrtmr or Qilm ment, the eomnies which are now being consolidated These stipulations are all provided for in trnst agree- jam auU preserving Idtiury t OaieiU, The phel Company have heslUted, until now, to bor- ment executed by The Phea Company and filed with row in the open money market until they had first dem- Title k Trunt Company, Portland, Oregon, where inter- UregOn. onatrated the success of this industry. est and principal of notes will be paid as due. A Sound Investment It will be noted from the Appraisal (9S7,n39.CS) and the Audit of Liquid Assets (1 078,M0.0U) that the TOTAL Of PRKKKXT ASSETS I,H JIOHB THAN FOl'R TIM KM THE AMOVNT-OC THIH NOTK ISHCE. The Phez Company has shown their ability to successfully market their products. With national prohibition, thero will be a greater sale of unfermeiited fruit beverages. Tho value of soi-alled ''soft drinks" consumed by the American public in ltt1 is estimated at 72,000.000. This represents an increase over $.'8,401,(1(10 in 11114. Besides the fruit juice Thcz, Loju and Appleju the company is now hiaiiufai'turiug and will sell a large volume of Phez, Jams, Jellies and Preserves. r " A great publishing house recently made an investigation of loganberry juice throughout the Kast. Their report includes this statement: "In estimating the luture possibilities of loganberry juice, reference is often made to the develop ment of tho grape Juic market At the beginning the market development of grape juice was exceeding ly alow. It is reported that It was at first difficult to get people sufficiently interested to try free samples. Now tba making of grape juice Is a large Industry. Though at the beginning it was considered a luxury it now baa very wide distribution and is considered almost a necessity, pnes already baa a very favorable be ginning. In half of the best retail stores visited its sales were reported as equal to or exceeding those of grape juice. It is commonly thought to have a flavor and Individual quality superior to grape juice." Because of the well known success of Tho Pses Company, the standing of its officers and stockholders as conservative busincKs men. we predict that this issue of ."iO0,0O0 of Cou pon Gold Notes will not be oversubscribed. Therefore, if you T6 interested ITS Suggest that you telephone or wire ui af on . expense. , After a thorough investigation of the security behind these notes, we purciiased the entire issue for our own account and unqualifiedly recommend them for investment. Pending delivery of definite note interim receipts will be issued. Price, Par and Accrued Interest, to Net 7 Per Cent. G. E. Mill COMPANY NORTHWESTERN BANK BUILDING PORTLAND, OREGON. NOTICE OtT SALE OF GOVERNMENT timber, general land office, Washing ton, D. J, June 27, lsu. aotice ii hereby given that subject to the-coadi-tions and limitations 'ot the act of June , 1916 (39 s,,t- 218)' ,nd instructions of the secretary of the in terior of September 15, 1917, the tim ber on the following land will be sold August 20, 1919, at 10 o'clock a. m., at pnblis atsetion at the United States land office at Portland, Oregon, to the highest bidder at aot less than the ap praised value aa ehawn by tWs notice, isle to be subjeet te the approval of )Df the secretary of the interior. The purchase price, with an additional sura ef one fifth of one per tent thereof, being commissions allowed, must be deposited at time of sale, mosey to be returned if sale is not approved, other wise patent wiTl issue for the timber I,',, must be removed within tea mA. ',ll fca received from eiti teas of the United States, associations Cf suen eitixens and corporations or ganised nnder the laws of the United States or any state, territory or dis trict thereof only. Upon application of a qualified purchase, the timber en any legal subdi vision will be offered sepa rately before feeing iaeladed in any of fer of larger aeit. T. t X B. J W, 6ee. 11. Nw'Vi ftw- fir 5,0 M- eeder 55 M, SWtf, red fir 740 JL, none of the red fir or edar to be ld fr less than 1J50 ii. 1 See. 5, NE4 NE?4 fir 1CW M., kenllork 270 M, NW4"NE fr BiO M- fcemjock 150 M, EHl fir 1770 Jf., ne-nlock M., BW14 XE"4, fir 8390 M., hemlock 200 M., NE14 NWVi, fir CG0 M., heiulock 130 t.. NWii NWW. fir 1760 M . NKW SK, fir 1170 M.. hemlock 120 M., XW14 RE. fir 1630 M., hemlock 50 M. SEVi EV. tit 1190 M., hemloek 30 M, SWi4 SE'4, fir 7!0 M., NE SW14, fir 1950 M., NWK 8W, fir 2100 M.. BWI4. fir 1650 M.. 8V4 SWV,, fir 1250 M., no-e of the fir to be sold for lets tnan 1 l.'jti per m., tl none of the hemlock to be sold for lese than 75 cents per M. T. 9 8., B. 8 E., Sw. 25. 8W KWA, red fir 00 W., 8E NEW. red fir 330 M., 8W14 NE&, red fir 500 sons of the red fir to be sold for leas than 2 per M. CLAY TALL MAN, Commifsicner, Oea eral Land Office. I ll BLACKSMITHS WILL PICNIC AT THE MULTNOMAH I ALLS The Marion County Local of the Mas ter Herseshoer'a Nations protective association will give a picnic at Mult nomah Falls on the Columbia highway on Sunday, August 1", 1919. Tnat date is the annual holidav set aside by the association. J. C. Moore, of Donald, is sec ret cry of the Msrion county local, sad wili supply full informanon te all inquirerst The county local hope to make the occasion a slate wide affair. AH invited are org-d to bring a well filled baket. - Tcrgct If -Buy At Hcse' EDITOR MIL DOOR Edward T. Peech, Sentenced For Contempt Of Court Finds Cell A Bower. Memphis, Tenn., Aug. 4. Headed ly & brass band and a decorated auto, licaring a,banncr with the words, ''The Shame Of It All," a procession of citi zens today accomnnied Kd-xard T. Leech, editor of the Mcmphij Press, to the jail, where he will serve tea days for alleged contempt of court. Leech was sentenced following Pub lication in his paper of an editorial en titled 'Tlie Shame Of It All," which the court held was directed it Chancel lor Israel Peree. Leech contended the. editorial was general in tone and was written in connection with tac political situation in Memphis. It did not men tion Peres. following the decorated cat in which Leech rode, were fifty sutoe contain ing citizens. The procession Irjtrrsed: the streets of the business pait of Mem phis. Crowds on the curli cheered at it pai-sed. A forgo crowd of citizens gathc;cd it the jail when the procession a. rived. An attorney mounted on the jail stops, made a speech in defense of the free dom of the press and 0' fcuilor Leech's conduit. Inside tliv jail I-ecrh wns u-ncrrd in to a cell filled with flowers. A brand new white lied, spread with cletin linen, had been provided by his friends. A refrigerator filled with edibles was also proxuded. Plr.ns are being made to hold a mass meeting the day Leeoa is released from jail, at which time new laws will be proposed to the Tennessee legikiatnre guaranteeing freedom of speca of the press. Judge Recommends Hanging As Cere For Mob Rule Fad Chicago, Aug. 4. Mob rule, is bct punished by hanging. Judge Kobcrt K. ! Crowe told a special grand jury here today. The jury is to conduct an in vestigation into the race riots of last wepk. "lo not discriminate oetween whites and blacks," the judge advised the juror. "There is aa aaarchiitie con dition in Chicago and what yoa are to do is to crush it" BASE8 'BOUND COAST LEAGUE t immrrnnii Tnni'fi'A ci:e . ?,.. lUiiiitittAL wmm 1 lairocuces D ILL IS IIURODUGED War Department Plans For Future Cf Army Giyea To ! Congress Today. J Washiagton, Aug. 4. Herielary Its 1 ker toiliy submitted to cogiTii the ! war department plna for x'nn.incnt 1 universal military training. E The plus was embodied in a bill for criiiancnt reorgnniitution of ihe army, introduced in the senate by Vadoi .u, chairman of the military n'f.iirs com mil tee. I'nder the bill, Imivs reuchmg the age of 19 would he ret) uired to take three months' ttainiug and would tuta go iuto reserve, where for two year. ;1icy would le subject to call. In the event of war the selective serv ice act, as emended during the war with ttrrniauy, would come into force nutomr.ticHlly and make all men be tween 18 and 45 liable to aoivi.-e. Kxeniptions are provided iu the mili tary training feature similar to those used in the draft during the war. A pence nriuv with a maximum stregnth of 51(1,000 men is provided, preserving to a large extent tue pres ent form of organization. Other clauses of .the bill outline the genernl army orgnnizatioa and call fur six lieutenant generala, thirty-two ma jor generals and eighty-eight Ingadier generals. The old seniority rule for promotion of officers is nlmndoned ami romotion by selection is substituted. No chnnge is 111111U) in the nations! guard'a relation to the regular army. New Milling Company For Salem Files Incorporation Of loenl interest and importance nmonir the list of documents in the cor- Ipnration department at the state house during the pnst week was tho incor poration, of the Cherry City Milling company, of this city, which has a cap italization (if $73,000. Tho incoipoiators are W. P. Ccixcr, Marion Palinei and K. 8. Palmer. Their articles enll for the manufacture and sale of flour, feed and all cereal products, and to buy and sell fuel of all kinds, and to do a gen eral commission and brokerago husl nesa. Another Kalem firm incorporated is tho Hosier Brown Kline emnpnny, with Oeorge B. King, (leorgn L. Arbuckle and P. L. Wisherd as incorporators, and rapitiiliantion of $10,000. Other Oregon concerns of iui,iortr.nce are: Willamette Iron it Hit el Works Really Co.. Portland, $;Hi0,000; Ward Louis' Lumber Co., Port'aud, $100,000; Coquille Coal 4 Coke Co., Poitlnnd, $100,000; Willamette Telephone Co., Portland, $75,000; Butler Pncking Co., Portland, $75,000; Modern Printing Co., Portland. $22,500; pacific Logging t Timber Co., Portland, $10,000, Frede rick Post Co.. Portland. Mu.i.01: Clark (Lumber Co., Portland, $30,000. Typ; Of E3 A Grocers Washington. Ag. 4.--!,utiii , iii'l':itt' ta the hijjh eot ff iiii;g it.l:iv. S-nr.tr Sroimt read items from his i;r. eery ts!l. Hi-fe is what he jaul: (ie bushel apples, t; u.ie t"r iwloit, $1.25; tne ciiculilxr, 55 cents; one poiiad ouiiias li1-.. cents; one rtiick ca ( which 8iuut sanl was tiie sine f his hand), $1.5(1; ene pound hkimiacil aiilk these, 48 cents; 1 ptiunds flour, .$1.03.. T. II T. Exp!os:ca hjsres Three At Casp Raritaa New llruaawick, N. J., Ans. 4 iThrw men were injured at Camp Kari jtan atsenitl near here tl whew JbiiiiiII amount of T. X. T. exploded in i freight cars 4einx unloaded and caused Ian explosion among some shraipnel 1 shells in a ncarhv maazino. j Pirst reports saM eight had bta i killed and more than a score injured. ! DEALS IN SEAL ESTATE Anna P.. Sprojjis to Klia" K.. liiiler, 1-7.W0 acres in ti. C. Apliu cla.m 04 3 3 W. I Alice A. Sprogia to Klis K. Hiller. j 3-1. 1 H acres in J. Mesplve eiaiin iil 3 2 .W. Alien A. Sprogia to tieorge llilli r, 73 jacres in Oeorge Apliu cliiim ti4-h-2 W. Alice A. Kprogls and Anna C. Sprngis to .1. W. tlwlaa and Kliz 11 Miller, 93.;3 acres in Oeorge Apliu claim 01-3 3 W. Alice Sprogia to J. W. (ice'tua, hulf ef H luilf of N half of J. MospUc cliiim 31 3 2 V. Alice nnd A111111 Sprogis trt Kiix K. Miller and C. B. (leelnnj 43.13 acres In tieorge Aplin claim tit 3 2 W. J. S. Hons to Charles DuvUa, r acres in P. Plouilro claim 83-3 H W. Anna Yiiiflia to James Craford, p5 hulf of NW ipiuiter of HW ipuirtir sec tion 3 0 2 K. James Crawford to Lumberman!! En gineering Co., H half of NW quarter and NW quarter of HW quarter, section 3 0 2 K.; $4700: L. W. Josse to T. L. llilli.igsley, lot 1, block 1, ltrookside addition. 1. It. Albert to Rukin l)einoiie Hospital, part of lots 3 and 4, iilock, Vniversitv aildition. Mnrv K. Pearco to Knlein Deaconess Hospital, purt of lot 4, block Z, Vnt veraity addition; $300. A. C. Uiutcel to R. L. Benge, iiart of lot 2t and all of lot 22, Kwaia Fruit Kr.i111. Alliance Trust company to AV. P. Me N'nry, three tracts comprising 00 acres in J. C. Ilerron cliiim No. X, and Jack Pollurd claim 42-7 2 W. J. 1). Potter to F. If. ArgoUingcr, 3 acres lu ti lt, section 27 13 K. $$$ Keep Them Heme $$$ Salem's a Good Place to Trade "Forget If Boy 'At Home Old Style Dentistry Going Oat A Better Style Coming In 1 ... . i Xir A CR. PARKER (By Vnited Press.) Yesterday's winners! Oakland, Ver non, Kan Prancisco, Los Augdis, Port land, Halt Lake 2. Hume runs: Blue, Beavers; Koerner, Seals; Hosp, Lapan, Kainicr.-; Maggert, Kuailcr, Bees, The Heals took only two of last week's guinea with the Koluiis, includ ing Sunday's game, which hoerner put on ire with a homer in the tenth. The linal score was 4 to S. The Onks and Tigers bro'ic even on th Sabba'h's double bill. The Acorns took the morning game 7 to 2, the Ti gri the afternoon, 0 to 3, for their set- oud wia of the scries. The aeries went to the Angela, five te two, the Beavers taking their second win lisuday afternoon, 3 to 1. Tho An gels annexed the foraooon ssssion, 7 to 6. Al Goirld pitched both games foa the Bees against the Kainiers sad won both 'y the scors of $ to 2. Ths Kainiers got JSC wia is the seven game series. Torget If-Bsy At Hems Br DR. PARKER Founder and Executive Head af tho E. R. ParLar Ssteaa QLD-STYLG dentistry was too slow it wasted time and the patient paid for the waste. - You had to wait your turn, and you had to make appointment after appointment to get dental work done. The trouble was the lack of sys tem and the limitations of one dentist working by himself. The E. R. Parker System in Dentistry cuts out all delays and gets the work done at once. Fewer appointments are required, and often dental work can be completed in one visit that required sev eral visits under the old style. This is because the Parker System requires a staff of specialists, and specialists not only work better, but faster. If you will visit the office in this city where the Parker System is used, a specialist will look at your teeth, tell you without charge what ought to be done with them, and tell you in advance the price for doing the work if you decide to have it done. This will show how much less dental prices are under the Parker System than under the old methods now going out of style. Registered Dentists Using the E. Ri PARKER SYSTEM 303 State Street, Salem, Oregon Wallace Hylandcr, Fred G. Bunch, Ray J. Greer fit