Daily capital journal. (Salem, Oregon) 1903-1919, 1916-02-07
Steel Merger Causes
Stocks To Go Higher

Copyrighted 1916 by the New York
Evening Post)
New York, Feb. Announcement
OF another step in the long discussed
" steel merger whereby the $70000,-
900 Midvale Steel and Ordinance com
pany acquires the $45,000,000 Cambria
Steel company after having previously
taken up several less important con-
cerns-was reasonably sure to start up
speculative activity in industrial issues.
Indeed that portion Of the market mon
Opolized the days business today.
Almost every other stock that rumor
or conjecture could assign to a "mer-
ger" WAS pushed to the front. These
made some sharp advances, though on
the whole their rises were not spectac-
ular.
As whole the movement was irregu-
lar and though there was some ad-
vance inalmost every stock, there were
sharp gains in m any.
and tell the club what measures they
hope to bring before the conference.
The memberes of the club will be given
an opportunity to ask questions of th,
lay delegates and learn their views on
many questions of import that will come
before the general conference. A. A.
Lee will preside and the ladies of tn
West Central Circle will serve the din
ner.
DR., G. L. Tufts, superintendent of the
Weekly Rest Day League, addressed the
meeting Of the Ministerial Union this
morning. He told of the "one day rest
in seven" bill that the league will
bring before the Legislature at its next
session. Petitions are already being
circulated for signatures. The obiecl
of the bill is to establish one day in
Oregon when no one need work. The
provisions Of the bill are not religious.
.
Upon reading the announcement of
the Commercial club that an aluminium
factory in the east is seeking a loea-
tion on the Pacific coast, citizen of
Salem brought to the club rooms sam
pie Of aluminium clay. The deposit, he
claims, is unlimited in amount and has
face vein Of about 40 feet in thick
ness The deposit is located about 80
miles from Salem. At the present time
special large corporations control the
rights to develop aluminium deposits
in the United States, but this right
will soon expire.
The executive committee Of the State
Teachers association met in this citv
Saturday for regular business session.
Those present were Il. F. Carleton,
president, E D. Ressler, of Corvallis
temporary secretary; George A. Bris.
coe, of Ashland; J. Percy Wells, of
Jackson county, H. D. Sheldon, head of
the department of education of the U.
of o.; O. NJ. Elliott, superintendent of
the Salem public schools; Viola 0rts.
child, of Portland, and H. H. Herdman,
principal of the Washington high school
of Portland.
Warden Minto, of the oregon state
pen, left this city yesterday for Fort
Madison, where he will receive a pris-
oner named Fraisch, and bring him back
to the Oregon pen. Fraisch escaped
from this pen about two years ago and
has been doing time at Fort Madison,
whore his time will expire within few
days. On his trip Mr.. Mimic will visit
a number Of eastern penitentiaries.
.
Despite the cry unfavorable weather
last evening, fully 700 were present at
the First Congregational church to wit
ness genuine moving pictures as reg
ular part Of the evenings services an
possibly TO have the pleasure of saying
they attended the first services of the
kind ever held in the state of Oregon.
The services were similar to those of
any evening, with the exception the
the pastor, instead Of occupying the
evening with sermon, gave is min
ute talk on the story of Joseph, fol-
lowed by Pathe moving picture of
"Joseph in bondage" F" The pictures
were of the regulation standard and
equal to those thrown on any screen.
Arrangements have been made by the
pastor, the Rev. James Elvin, for a
continuation Of services OF like nature
for the coming year. The large at.
tendance at the first services Of this
nature was gratifying to the church Of.
fieials as well as the pastor, as they are
pioneers in this movement for bringing
TO tho church Sunday evenings not only