davidaulloa/AmericanStories huggingface dataset:
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

American ports every week, Our ex'
ports are being further expanded by
heavy shipments Of wheat and cotton
Meanwhile our importations are run
ming very light, owing to the inter
ruption of supplies by the war; and in
the week ending February 9th, the eS'
cess OF exports over imports was cstim
ated at $370O0,OO0 As result of these
international operations, foreign ex-
change has again declined to the lowest
point since 1907. Gold imports from
China and Canada are coming at a mod
crate scale, and larger amounts would
follow were il not for the establishing
Of the foreign credits rcforred to above.
1t is estimated that the present inward
movement may run as high as 5000
600. but we do not need gold while
Europe does, and under existing condi'
tions it is more advantageous to Europe
and TO the United States to allow these
credits to stand. We have thus become
creditor instead Of debtor nation.
The most important local factor in
the financial situation is the abundance
of loanable funds at reasonable rates,
This is due partly to the dulnoss in
trade and partly to- the satisfactory
workings Of the Federal reserve bank
ing system There has been q steady
expansion in loans which now stand at
$2, ,22l 100000 against $2,ls0,0OO,O0 at
the opening Of the year. Bank reserves
have declined somewhat in consequence,
but the surplus last week was stlll
above $l40,000,000. Investment condi'
tions have improved as shown by the
ready absorption of really highgrade
bonds and stocks. Some Of the latter
are selling at very low prices, com
pared with current rates for interest
Stock Exchange values have been sub
ieeted to sharp fluctuations. The pass
ing Of L. s. Stecl's dividend and an
nouuccment Of the New York Ccntral''
new issue were both signals for bear
attacks, although they represented con
ditious already passed, There was some
fear also that the Canadian Pacific
dividend would be- reduced, but these
apprehcnsions proved unfounded. The
possibility Of on extra session for The
purpose Of passing the ship Purchase
Bill is an unsatisfactory feature, mas
much az the nation viii be glad TO SEE
congress adjourn at It's appointed date
| March lth The uncertainties OF wal
also cnused moderate fluctuations in III,
security markets There are thus Mf
ficient depressing influences to kceI
the market more or less unsettled ant
afford the opportunity for creating {
bear party Of some consequence. New
crthcless intrinsic conditions are stead
/ ily improving; the best evidence Of
which, as already stated, is the activity
In new financing.
There is a continued gain in business
confidence, also some, though limited
improvement In the volume Of business
Bread in advancing owing to the hgl
cost Of wheat, brought about Of courW
by war conditions, Grain has nlrcad,
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
Henry CleWs Weekly
Financial Letter

New York, Feb l3.-No better evi.
dence Of financial improvement could
be recorded than the increased activity
of new financing. Immediately follow.
ing upon the opening Of the war there
was a sharp contraction in new capital
applications, the total Of which record.
ed for the last seven months reached
about s4SO,OO0,0O0, or $l65,000,0OO less
than the same time last yeqr. The low.
est month was September, when appli.
cations fell below S2S,O00000. Reeov.
cry has been gradual, and in January
the total rose TO $l21000,000, or only
| S3,OO0,000 below the same month in
1914; while the total announcements
thus far in February already exceed
sl60O0O,000 bonds, including 100000.
600 New York Central $27,O00,000 New
York state, and $l5,000,000 Canadian
/ Pacific, besides u number of other i'm.
! portant issues, The January total wa,
Of course swelled by the PENNSYLVANIA
issue Of $4,000. Total issues in Feb
ruary last year were Sl76OOO,00O. o
considerable portion Of current new is
sues is for the purpose Of adjusting
maturing obligations; but the ignif
iccant features is that these operations
could not have been successfully ear
ried through n few weeks ago. while II
looks now as IL other important flota
tions will follow, so that this February
will considerably exceed the sam,
month a year ago. While we are fac
ing beyond doubt nm urgent demand fol
capital, II is not likely under existinl
business depression that there will b,
any great demand from really new en-
terprises. This year an extraordinary
volume Of short term notes and othei
obligations mature, which win have {,
be extended or turned into fixed forms
the latter method being the mos
probable.
There is also another aud very sic
niiicant trend IN the new demands fol
capital which is that nearly every i'm
portant nation in the world exccp
Great Britain is either borrowing in thl
United States or wishing to borrow
This is due TO the war. London ha
practically retired az the world y bank
er for the purpose Of devoting III
whole financial resources 70 conduct IN,
war OF course, this withdrawal &
temporary, yet it offers an unusual op
portunity to the United States, becaus,
New York Ia now the only free capita
market in the world, and hitber vii
come large portion Of the new cap
itul applications. Az present the wa
is being carried on by all belligercnt
largely by means Of short term obliga
tions, although Great Britain is aiminl
to pay q considerable share as curren
expenses. Later on these war debt
will be turned into more permancn
forms Of investment Al of the bcllig
erents have established extensive cred
It's In this market, for the purpose o
purchasing war materials, immens
quantities Of which are being steadil
shipped 20 Europe. This movement vii
continue as long as the war lasts. and /
proving a very vital fnctor in swellin
our exports large quantities Of ammuni
iion, automobiles, clothing, ETC., leavin
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
OF PEACE
Brings FLUCTUATIONS
Mayor Of Victoria, B. C.,
Wires Mayor Of OregOn'S
Capital City

Extending hearty Fluctuations and
best wishes upon the close Of n cen.
tury Of peace between Great Britain
and United States, A. Stewart, mayor
Of the city Of Victoria, b, G., today sent
la highly complementary telegram to
Mayor Harley o. White, of this city.
The sentiment expressed by the Vic.
toria mayor is an indication Of the feel.
ing Of the British provincials toward
the people Of United States and espe'
cially toward the American cities on
this coast which are so closely allied
with the Canadians in commercial re-
lations.
The telegram Is also indicative Of the
endorsement Of the Canadians and Eng
lish people of the spirit Of neutrality
and tU.opprj tion that has been dis
played by ,be Americans during the
! European cmbroglio, The telegram OF
Muyur Stewart follows;
Victoria, B. G., Feb. l6, 1915.
To The honorable Mayor Of Salem;
Salem, Oregon.
The city Of Victoria, British
Columbia, extends its warmest felicita
tons upon the conclusion Of century
of peace between the United States and
Great Britain and desires TO celebrate
with you so important an event in the
history of mankind. May this era be
the precursor of the time when peae,
and good win shall prevail among al
men and the nations shall wage war ne
more.
A. STEWART,
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

Portland, Ore, Feb. 1.-THE wool
market is showing further advance
and sharp one at all places wnerc
supplies are Offering Efforts to secure
contracts are again being made in the
Pacific northwest and reports indicate
that small amount Of business has
been closed in the interior at "a cents
a poJnd for best quality. This is the
highest price ever known here fer con
tracts and reflects the great scarcity Of
offerings throughout the world and the
higher prices that have been forced in
foreign as well as domestic trade.
Only small amount Of business mas
been reported in eastern Oregon at thd
higher prices quoted because growers
are showing little disposition to let
CO. The fact that % cents has been
paid in some other sections with buyers
anxious to take hold at this price, in.
dcates that still further advances
may be forced here.
Germany continues to ask for wool
and is reported buyer in countries
where shipments are possible at this
time.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
OSteOpaIhiC Doctors
Meet In Convention
HARLEY o. WHITE,
Mayor Of Salem, Oregon.

The semiannunl meeting Of the Ore.
gon Ostcopathtu association will he held
on Friday and Saturday, February 10.
20, AZ the Multuomah hotel, Portland.
Important papers will be read and
discussed, such as ''rhc Human Or.
gnnism a. mn Adiustiye Mechanism,
by Dr. Rowland; Asthma, - by Dr.
Waldo; "rhe Relation of Vcrtebml
Lessons 10 Nutrition by Dr. Lcweaux,
DR.. WimerFord will also contribute q
papea
Special interest is centercd in this
meeting as plans will be decided upon
rcgaaiing the entertainment OF the na.
tiuna' convention to be held in Portland
next August, when over 1000 osteo
pathie physicians viii visit Oregon,
A popcr on "The Relation Of Vertc.
bral Lessons 10 Noctrition' will hc
read by Dr. r. W. Walton of Salem.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
.BOWLBY'S RESIGNATION
IS DEMANDED TODAY
Move Made To Aid In SeCur-
ing Desirable Road
Legislation

AT Il special meeting Of the state
highway commission this morning, in
the light Of such strenuous opposition
to the retention Of State Highway En-
gineer Bowlby in office, IL was decided
by majority vote, Secretary of state
0lcott voting no, TO request the resig-
nation Of Engineer Bowlby. Governor
Withycomhe was instructed to notify
Major Bowlby of the action Of the com
mission aud the governor dictated a let.
ter to Major Bowlby this morning.
lnasmuch as Major Bowlby was out
Of the city, being in Portland on bust.
ness, and the news had leaked out of
the action Of the board, Major Bowlby
was called up by long distance and the
communication read to him over the
phone. Major Bowlby made no com.
ment upon the action of the commission
over the phone, except TO say "ThanlS
You" II has been known that there
has been disposition on the part of
the majority Of the commission to ro.
quest Major Bowlby TO resign but il
was not thought that IL would take
issue until after the legislature but, ac-
eording to the statement given out by
Governor Withycombe and Treasurer
Kay, the pressure has been so great up.
on the commission to remove Engineer
Bowlby and il was evident that his re-
tention in office was hindering needed
road legislation, immediate action was
thought necessary.
The text Of Governor Withyeombe y
letter TO Major Bowlby, requesting his
resignation, follows;
Concurrent with the action Of tho
state highway commission at meeting
held this morning, as It's chairman am
requesting your resignation as state
highway engineer Of the state Of Ore.
gon.
"While and other members Of the
commission appreciate your faithful
ness to the interests Of the state and
the constructive work Of your office,
yet the majority Of the board deems this
action necessary at this time 70 insure
n more generous treutmont Of road leg.
islation by the legislature than seems
possible TO procure II you continue in
office.p
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
Captain W. 5. Moon
Dies al Eugene

Eugene Or, Feb. Nv. S. Moon,
captain Of Company G, second Oregon
U. $, ", which left Eugene during the
Spanish war for the Philippines, and
resident Of Eugene for nearly a quarter
Of a century, died at his home at lgD
Ninth avenue east Sunday morning.
Death followed lingering illness. He
returned only two weeks ago from
Portland, where he sought treatment.
lie was 40 years Of age.
lIo is well known lodge man, ha,
ing been a member Of the Modem
Brotherhood Of America, the Woodmcn
Of the World, the Knights Of pythiaH,
and the Spanish War Veterans. The
Knights Of pythias will conduct tho
services at the grave tomorrow after
noon. The funeral win be held from
the Gordon & Vcatch chapel at p. m.
Tho members Of the Spanish War Vet,
Grams will participate. Reverend W. H.
Davis win conduct the service.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
By william G. Shepherd.

a.
lunited fseSs 0tali Correspondents
Oalsls, req, l'-(by mali 10 New
iofk')-ine Nanaoians are ready rof
the trenches
lucy are eampeu' III part, near q
ittIe lake III France ana tney are iinu-
ing that weather Oh tnat country Is lai
more eomloriaple tnah inc rams ana ana
ihnu OF hhsiahu' SALISBURY -, was as Wet
as the trenches Inc passengers VINO
tries 10 ahsht from q tram at lhe iitt'c
rallroad station OIL 'he Town near l whlcn
the Nanaaians are tenlihs wiz ue pue
Daek On lhe same tIaih ny d NJ, raneula" 70 I'd.
loin'ny anu scht on iis way ny lon.
my > eAplanallon WI ~ ou We so'
70 ,,I peal 1t, peseIsg II olueis' ,.o..
ne Ens"sh olii.'is anu sViuiel9 :
never never eease IN ., 'nvlL "o"HerI'enS wv
me =, ahaulah ploVncIs' IN Lohuon :.
was the Cahauian ynoP suey cra]e 'nu'
PuNAieu tne DIsil'h' sa, dnI in1'G ,. ot,y on1 aI
chop suey III iIonUon "St anu ~ V@toIs a.,
most entileiy 10 Cn,icsu l,.3 s'u1theS .h Wv .n'
Engllsh nave nc.e' I,stOgv,eu m. .hn '"e oeao ,u
ties Hi chop suey' puv % 'ueIc I is sVaiee, ,'C',
Town III oal'aua euao uOes nT' ooaS. ,a.
Oh ltS chop suey tes'uuI"i,ls 1.lj,. anu II t wa9
ohly hatufai Ior ine tan%ui"ns W ,T,'., SYN
OUT 'nop sIey piSIu p1Sy, ni. ,% non',on; ,L,o n
loulu ~ az hi ieaul,ty oli,"s anH .au,J snU
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
Archbishop Christie
Announces Lenten Rules

Archbishop Christie has announced
the rules to be observed in his arch.
diocese and those will be read in all
the Catholic churches Of Portland TO-.
day. The time for making the Easter
Communion extends from the first Sun
day in Lent to Trinity Sunday inclusive,
Parents are made responsible for their
children and are therefore urged to see
that they receive the Easter commun-
ion, The usual prohibition prevails
against using flesh meat and fish at
the same meal.
The following are the principal rules
stated by the archbishop:
The use Of flesh meat is allowed at
every meal on Sundays, as well as the
principal meal on Mondays, Tuesdays,
Thursdays and Saturdays Of the En-.
Der days and holy week excepted.
The use Of fish, milk, butter and eggs
is permitted on all days Of Lent at the
evening collation., and the principal
meals on those days on which the use
Of flesh meat is forbidden.
In the morning a small piece Of bread
is allowed with cup Of coffee, tea,
or similar drink.
When the principal meal cannot be
taken before noon, the order may be in
verted and the collation. taken in the
morning and the dinner in the evening
Lard or grease may be used in pre-
pairing lawful victuals.
Those Of the faithful who are ex.
empt from the obligation Of fasting
can, on the days when the use Of flesh
meat is permitted TO all Of the faithful
be allowed TO use II several times day
as on the Sundays Of Lent when the oh
legation is not binding. The use Of both
flesh meat and fish together at the
same meal is strictly forbidden during
tho whole Of Lent.
In virtue Of the authority conceded
TO bishops in the United States by Q
recent pontifical indult, permission il
granted to working people" TO ust
meat on all days Of Lent, with the cx
ccption Of Fridays, Ash "Wednesday
and the Saturday Of holy week.
This dispensntion from abstinence ex
tends TO all three repasts in the day.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

risen dangerously high; ind present
prices naturally yield gratifying results
TO the farmer, as all food prices are
rising. The Southern cotton planter Is
also getting a better price for his pro.
duet These arc comfortable times for
our farming classes, since conditions en-
courage the lurgest possible production
lat good prices for nearly all ugricul.
tua products January railroad earn.
ings were exceedingly unsatisfactory
and often showed large decreases, Yet
later freight returns show an increasing
movement, and there is reason TO hope
that the railroads have seen the worst
Of their troubles In another aspect
the tide seems also to have turned for
the better; that is in the iron trade In
the export division a much better busi.
ness is being done, and our own rail
roads are placing more liberal orders
for equipment than for several months
Az prices are also stoadcr there is
abundant evidence that the steel trade
is now on the upward grade, although
the pace may be disappointingly slow
Nevertheless the industry is now run
ming upon n 80 per cent basis, compared
with 30 per cent a few weeks igo
Business this week was somewhat in
terrupted by the holiday, but indica
tions point 10 more active and IT,
regular market. Should nothing Occur
10 prevent the present roviving tendcu
ey Of confidence, we may look for d
ltll higher market but purchases
should be governed with exceptional
caution and sharp reaction are possibl,
NJ any time, HENRY CLEWS.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
Wonl neaches 2B Centa.

Butte, Feb l7--Montana woolgrow.
ers were advised last night that 100000
pounds of Idaho, Utah and Montana
wool had been contracted fw at salt
Lake at the prevailing price of 70 cents
a pound with sales as high as 20 cents,
This is the record price for the amount
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
Food Supply Figures
viii Be Made Public

Washington, Feb. lT-preadcnt vii.
son wrote Mayor Mitchell Of New York
today stating that the country would
feel less fearful Of food shortage
when facts In possession Of the agricul.
tural department are made public,
President Wilson 3 letter was in re-.
ply 20 Mayor Mitehel's suggestion for
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
6Portland Markets.

Portland, Ore, Feb. l7.--Wheat---
Club, $l.52k; bhcstcm, $l.5ila
Basley-'eed 500.
Iogs-Best live, $6.s0@6.9O
Prime steers, $7,5Om7sj; fancy COWS
$6.5O,Q6.75; best calves Ss@S.2j; spring
hmO4, SSMS.20.
Butter-City creamery, 32c.
Eggs-Seleeted local extras, 23M2ic.
Hens, l3Ml4cj broilers l4@ l6cj geese
Zoe.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

a food embargo. The president said his
administration had given the matter
careful attention from the first, adding'
"rhc department Of agriculture Is IN
possession Of all the facts and as some
very erroneous impressions obtain, Il is
our purpose, in the immediate future,
TO remove these Misunderstanding by
n fnll nnd clnar aIninmnnl. y
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
THE MARKETS

There is scarcity Of veal in the To-
cal market and the price is holding stiff
while other meats are showing a weak
ness. Pork on foot aud dressed is off
a quarter Of cent, due to the heavy
shipments of poor quality stock.
All other market quotations remain
the same as yesterday.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
Mayor White answered.;
Honorable A. stewart,
Mayor Of Victoria,
NFi.Nartu n ~
STEWART,
Mayor.

Muyuf OF Nlclofluj
Victoria, B. G.
The people Of the city Of Salem wish
TO express their warmest gratitude for
the congratulatory message from the
city Of Victoria upon the conclusion Of
q century Of peace between the United
States and Great Britain, and each and
every citizen is thankful for condi.
tion which permits uninterrupted busi.
ness relations and precludes useless
bloodshe1 and strife. We trust that
the century Of peace just concluded is
only the beginning Of an epoch Of closer
relations between our respective coun.
tries and unprecedented prosperity for
both.
HARLEY o. WHITE,
Mayor Of Salem, Oregon.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
STEWART NOMINATED.

Washington, Feb. lI---Prcsident vii.
son sent to the senate today the nomiu-
ation Of c, II stewart to be postmaster
at Albany, Oregon.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17
Canadian Troops Ready for
Trenches, Camp in France

Canadians have no right to call their
game football. Which doesn't seem
to bother the Canadians in the least, for
two or three games of football" are
going on almost every afternoon in the
camp.
Though the lake near the camp is
small, the members OF various rowing
clubs in Canada have found old row
boats in which they keep up their daily
practice.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

"Great stuff said member of
the Winnipeg eight. of were back
in Winnipeg, where the earth is frozen
four feet down, ID be practicing with
a rowing machine, but here can row
every day. III have it on 'em all when
get back home. The races in row.
boats are another source of astonish-
ment to the English. cone rows only
in skulls" explained an English off.
Ger % a Canadian.
$50 do we in Canada, " replied the
Canadian. "But in our country we
learn to make the best Of circum-
stances.
There is little doubt that the Cana
dians, especially from the Canadian
northwest, are better able to endure
the cold than the average English
troops Medicine Hat, Winnipeg, Cal
gary with their 40 below zero temper
,aturc, produce a man who II laugh al
30 above bleakness of France. Hun
dreds of the Canadians duck out OF
their tents in the morning aud jump in
to The lake with shouts Of JOY while
Brtishcrs, bath-lovng as they are
crawl into their warm clothes, saying
meanwhile "Most extraordinary chaps
those Canadians
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

II is an observation among British
Officers that the Canadians are more
like Americans tnan like Englishmen. F"
An American will find this observation
quite true.
Among the 10 American marines kill.
ed at Vera Cruz last April five nation.
alities were represented, OF course, the
maiGity of the Canadians over here in
France are Of English extraction, but
the Ieath lists that will be printed in
| Canada, as soou as these men get to
the trout, will contain the names of
men Of almost every occidental nation
ality, with the exception Of Germany
Austria and Hungary.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

You cannot afford to miss
reading the Journal Want
Ads every day.
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

= = y y r = \ \ \ n \ r + =
Hundreds have obtained their
first start on the road 70 sue
cess through a Business op-
portunity" Want Ad Perhaps
todsy-now-your chance is at
/ hand,
Daily capital journal. (Salem, Oregon) 1903-1919, 1915-02-17

/ + 4 \ \ 4 4 4 4 4 \ + n + 1
Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1915-11-18
CRUDE OILNOWAT
TWODOLLAR MARK
Increase Of Ten Cents Today Lifts
Pennsylvania Product Up to Goal
of Producers.

Pittsburgh, Pa, Nov 1S.-Two-doliar
oil, the goal Of hundreds of producers
throughout the country. was reached
this morning when the South Penn Oil
company announced the second adj
vance in crude oils for the week as
follows Pennsylvania Crude. So:
Mercer Black, Newcastle. Corning
$3.50; CabelI. $1.55; Somerset SLAP;
Ragland, 10 cents.
This is an advance Of 10 cents bar
rel on each grade except Ragland
which remained unchanged.
Oil producers have for long time
been waiting for the day when Penn
sylvania, the base of the market. would
command 81, and they would be able
to sell their product for what they be-
lieved it to be worth. Last August the
advance started, and impelled by cur
tailment of production abroad and in
creased consumption in this country
Oil has been going up ever since
The new price is expected to bring
out the greater part of the several
million barrels of crude oil known to
be above ground and TO stimulate drill
ing in the hope Of increasing produc-
ton