Evening star. [volume] (Washington, D.C.) 1854-1972, 1927-03-15
MEN AND MONEY
By NJ. S. Rukeyser.
Copyright. 1927

Inc payment OF lIcOule ldASS a. tAhI
average Americans chief direct con-
tact with the Federal Government
In other ordinary relations with
government. the American is con-
fronted chiefly with agencies of the
State, the county and the town in
which he lives. Fire, protection from
crime. health, and the great variety
of regulations OF personal habits are
essentially State activities. Federal
prohibition legislation was an eXcep-
tional intrusion into the field of States
rights, many observers feel
The huge Treasury operations in
cidental TO income tax receipts ana
to the payment of interest on Gov
eminent Obligations make hardly
ripple on the money market, thanks
to the efficient machinery which has
been set up by the Federal reserve
system. If the Treasury had under
taken operations of this magnitude
before the establishment of the Fed
eral reserve system. business and the
stock market would have been sub
jected to spells of chilIs and fever.
Now the colossal transactions have be-
come solely a matter of routine.
The March Is operations have the
fleet of temporarily casing the
money market, and then tightening
influence OF the Treasury operations
have been washed out
Expect Good Spring Trade.
The Pacific Northwest, like most
other sections of the country, suffered
a slump this Winter, if comparison is
made with the corresponding months
Of 1926.
However, wholesalers and retailers
around Portland, Ore. anticipate an
extraordinary Spring trade when the
| logging camps open and numbering
establishments start operations on a
large scale. They foresee an in
creased building program in that dis
| rriCt.
q. II. Whisting, manager, indus
| tries department, of the Portland
| Chamber of Commerce, who made a
| survey of conditions in his city for
! this column, reports;
THE most significant trend in in
dustrial development during the past
year was that toward the building of
additional pulp and paper and pulp
plants. Several of these were cStab-
lished in Portland's trade territory
last year and several more are pro-
iected. Activity in this field may be
attributed in part to much publicity
which has been given to the fact that
the Pacific Northwest offers the pros
pect of a virtually eXhaustlesS sup
ply of pulp and paper material. There
is an excellent prospect of an Increase
in the number of cannerieS and pack
ing plants. A linen mill manufacture
ing damask and table linen has just
begun operations. The volume of pro
duction in the clothing and garment
iI1Fi tf,iaC &c in OF
rapidly"
Portland Is Conservative.
Asked whether Portland business
men see any obstacles to continued
prosperity Mr.. Visiting replied in the
negative, adding: Portland has al
ways been known as a conservative
city-possibly too conservative for it's
own good-but the old conservatism is
being broken up and while the city
has never known d boom or a period
of inflated value, there is reason to
expect that from now on 1t will move
more rapidly than in the past. The
reason for this expectation may be
found in heavy investments in real
estate by men in other States--in the
extension of factories, the erection of
new buildings to house the growing
distribution activities of the city and
In the prospect that a number of new
industries will be added during 1927
Railroad development in the Orc
f1no 0daho) district has helped Port
land jobbers and manufacturers and
proposed development of a railroad
from Bend South, which it is antic-
ipated will start in May, will help re-
tail conditions in the central Oregon
country.
Construction on Rise.
1.-THE construction program in Port
land has not reached the peak. Public
work Improvements call for the con-
struction of a dam from the city
water department in excess of 81 $780,
600, a sea wall project costing 81 $780,
600 and in addition to this a market
building which will be constructed i'm
mediately following the completion of
the sea wall, costing in the neighbor-
hood of $3.000,000 and a new pipe line
tapping the water supply in the Bull
Run district which will involve APP
proximately another $1,000, 000."
Besides the South, another new ter
ritory has begun actively to compete
with New England as O textile center.
Because of the ready availability of
raw material go per cent of the wool
grown in the United States is pro-
duced in the territory more natural
ly tributary to Portland than any
other market), began Mr.. Visiting"
a moist climate, which is ideal for tex
tile manufacturing, and an abundance
of the chemically pure water needed
in every step of the manufacture of
wooden, line and silk textiles, there
is a definite tendency toward the eX-