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Newspaper
Independence Enterprise
Location
Independence, Oregon, United States of America
Date
Jan 17, 1913
Page
5
The railway merger begins its dissolution by electing new directors for the Southern Pacific. News notes cover Taft's return to Yale, Treasury custom service reforms, and various national matters from Oregon to Indiana.
Market list from Portland shows wheat varieties ranging 80 to 88 cents. barley values at 23 to 26.50 per ton. corn 27 to 28. hay and millstuffs with varied per ton or per crate figures. apples pears and onions priced. vegetables including artichokes cabbage and tomatoes with per unit costs. eggs butter poultry and pork prices. hops wool cattle sheep and other livestock values. no clear single event, but broad market snapshot.
London reports a week of renewed warfare in the Near East as allies prepare to end delays. Balkan states seek relief from long war duties and threaten to break off negotiations if Turkey ignores the Adrianople note. Turkish grand council in doubt. coercive action seen unlikely.
Olympia Washington Mrs N John Croake of Tacoma introduced house bill No 1 setting a minimum wage for women and girls at 125 a day or 16 cents an hour for piecework The measure was the first filed as 17 bills were placed before it in the session opening
Secretary of the Interior Fisher urged a free rotunda reception in the capitol for Wilson's inauguration, with congress funding the event. He argued a $100,000 appropriation would cost taxpayers less than current paid balls and related events that netted $95,823 on Taft’s 1909 ball.
Washington D C senate irrigation committee favors a report on Senator Borahs bill authorizing a ten million dollar loan to the reclamation fund from the federal treasury with Nevada Senator Newlands consent required Borah also said he will seek a change in the reclamation law to relieve settlers from repaying project costs in the next Congress
The Interstate Commerce Commission suspended by April 20 a cancellation of a through route on class and commodity freight from points west of Huntington Oregon via the Oregon Washington Railroad and Navigation company to eastern destinations. The move would raise transcontinental rates or push shippers to use a longer route.
Governor Bleage urged the South Carolina legislature to enact a misdemeanor law making misquoting a public speaker a crime. He also recommended a 2 cent railway fare Will.
In Washington D C Georg e F Baker testifies before the house money trust committee concluding that the present concentration of money and credit has gone far enough. He cautions that bad hands could destabilize finance and notes mergers have increased control in banks and trust companies.
The Moline Plow company seeks to raise capital from 9 million to 30 million dollars and extend its charter for 99 years. It also closes a long standing debt tied to the Adriance Platt & Co plant in Poughkeepsie New York. The firm is known as an independent maker of farming machinery and now operates seven auxiliary plants.
Lincoln Nebraska Governor Aldrich argued against state ownership of water power, calling it impracticable like railroads. He urged regulation to ensure good service at fair rates as preferable to state ownership, warning it could hamper capital development and violate public policy.
Snow blankets California mountain ranges while forecasts warn heavy frost in the morning. Citrus growers restart smudging to save what remains after recent cold. Temperatures held high enough to limit damage. A sleet storm hits Phoenix causing hardship to stock.
Utah electors agreed to cast four electoral votes for vice president for Governor Hadley of Missouri. Elector Mrs. Margaret Jane Wichter, daughter of a Lincoln law partner, will likely deliver the result to Washington.
George F. Baker told the House Money Trust Committee that the First National Bank of New York City had earned profits exceeding 90 million dollars since its 1863 organization. He cited dividends of 226 percent of capital and noted the bank’s capitalization rose to 10 million dollars by 1908.
In 1873 the institution paid dividends of 18 550 percent on original capitalization. Mr Baker opposed Untermyer’s proposal to publish bank assets. He defended directors serving on rival banks railroads or industrial firms, claiming shared leadership aids adjustment of differences. He admitted frequent consultations with Morgan and Stillman on large deals and uncertain counts of joint interests.
Washington authorities hail a New York Sherman Act victory over the lumber trust as a major step. The decision curbs retailer power, allowing consumers to buy lumber directly from wholesalers or manufacturers and permitting producers to sell directly to the public without retailer cartel interference.
Estate valued at 9.3 million includes 36.7 million in real property and 3.6 million in personal property. Sugar refiner Claus Spreckels left half to his widow, others cut out. Augustus Rudolph John D Adolph named beneficiaries. Contest filed. after the widow’s death the court voided the will.
Chicago financier William T. Kirby and his wife Margaret L. Kirby were jailed for contempt by U S District Judge Landis until they surrender $30,000 alleged missing from Kirby Savings assets. The judge derided the case as a fraud and frame up par excellence in perjury.
New York receivers of United States Motors were ordered by Federal Judge Hough to accept a $7,080,000 bid from the company’s reorganization committee at the foreclosure sale. The bid represents the proposed purchase of the company’s property as part of the restructuring process.
Human remains were sent by parcel post from the St. Louis post office to Edwardsville Illinois for burial in a grave prepared for Frederick Naumann Naumann died Saturday at Edwardsville and the ashes are to be interred in his grave
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