anaheim-gazette 1920-05-06

HIGHWAY BONDS UNSALABLE AT PRESENT RATE OF INTEREST SO LOW BUYERS WILL NOT ACCEPT THEM AT PAR Gov. Stephens Urges an Amendment Raising the Rate of Interest on the $40,000,000 Issue—Also Suggests Work be Continued in Sections Where Bonds Are Sold The present unusual money situation with the bond market abnormally depressed is making it impossible to dispose of the 4½ per cent bonds of the State of California, voted by our people for highways. The condition is not a local one, but a national and world-wide one, due entirely to the great demand for money, and the consequent raising of interest rates. The Liberty Bonds of the United States government, with the best security in the world back of them, have fallen to a figure far below par. At prevailing rates, most of the Liberty Bonds command a return of 5½ per cent and over. Many of the states of the Union, in borrowing money recently, have been compelled to issue bonds bearing higher rates of interest than hitherto and bonds issued by various municipalities of California are now being sold on a basis of 5 to 6 to have such portions of the highway work done as their needs may require and the highway commission approve. It is necessary, however, to have these county subscriptions in on or before June 1, 1920, in order that the definite subscribed portion of the $40,000,000 issue may be known in ample time for the preparation of the necessary initiative petition. It is contemplated to provide in the initiative petition an interest rate that will make the bonds salable at par. This rate may be, therefore, as high as 5½ per cent dependent upon money conditions at the time the petition is circulated. STOLEN CAPITAL The National City Bank of New York is the biggest bank in the United States. Monthly it issues an authoritative review of business and financial conditions. In its April number the review tells the inside story of how millions of dollars are being mulcted from the public in the promotion of wildcat stock schemes: "Let me show how a large number of the heavily capitalized companies, now selling stock to farmers in the through salesmen paid large commissions, are operating. They sell stock to a farmer to the amount of $1000 on which the company receives notes for $750, the remaining $250 having been pocketed by the stock salesman. This note for $750 is offered to some bank at a discount of say 10 per cent, which is $75 off on a note of $750. Even then the purchasing bank seldom desires to pay out actual cash, but often issues a certificate of deposit, without interest, due at the maturity of the notes. For the $1000 worth of ment board data as it can JAPANESE MEDIA ADVISORY Orientalia Plains distance Formation dition to the California to the property have in the "Los Angeles article which mento Daly per. The art the California League. The article "Plans for Red Crisis," follows. "It is important because of this which arise, o nection with in the presentation to our hundred years papers of the lishing articles papers translates reams who are anese language Japanese new very careful. ese newspaper thing unlawful our carefulness." "To meet there must be or outside of tion and Char daily friendly when any new States government, with the best security in the world back of them, have fallen to a figure far below par. At prevailing rates, most of the Liberty Bonds command a return of 5½ per cent and over. Many of the states of the Union, in borrowing money recently, have been compelled to issue bonds bearing higher rates of interest than hitherto and bonds issued by various municipalities of California are now being sold on a basis of 5 to 6 per cent. Leading industrial securities of high rank are today commanding from 6 to as high as 8 per cent interest. In view of these conditions, it is apparent that the State of California cannot now sell at par the remaining millions of dollars of the original forty million dollar bond issue. Our state, while its financial credit is unimpeachable, cannot borrow money on more favorable terms than other states of the Union or the United States government. The latter is now compelled to offer 5¼ and 5½ per cent on its interim certificates. With this financial condition confronting us, some measures must be promptly adopted to increase the interest rate on our highway bonds that the work may be prosecuted and the highways built. Temporary expedients have been adopted which have enabled us to maintain our state highway operating organization and to continue with the work thus far, but it is hopeless to expect to be able to finance the entire bond issue with the aid of these expedients. It is impossible, of course, to think at this time of stopping the highway work. The developing complexities of our modern life make us more and more dependent upon safe and expeditious routes of transportation. The motor vehicle, ten years ago an instrument of pleasure, is now an important factor in industrial transportation. In addition to this, the state has committed itself to a constructive, comprehensive system of highways and must necessarily lose heavily if the system as a whole is not carried out. Economical transportation means a continuous route of good highway from the point of shipment to the point at destination, and no stretch of road can be considered industrially valuable if marred by frequent gaps of almost impassable roadway. Moreover, the decisive majority NEW REPORT OUT The report of the California development board for 1918 and 1919 is off the press and ready for free distribution from their information bureau at the Ferry building, San Francisco. Special attention is given to the increasing industrial importance of California's ports and harbor improvements, imports and exports. Building activities, bank clearings from the principal cities and detailed report of financial conditions for the past two years, is of pertinent interest. They sell stock to a farmer to the amount of $1000 on which the company receives notes for $750, the remaining $250 having been pocketed by the stock salesman. This note for $750 is offered to some bank at a discount of say 10 per cent, which is $75 off on a note of $750. Even then the purchasing bank seldom desires to pay out actual cash, but often issues a certificate of deposit, without interest, due at the maturity of the notes. For the $1000 worth of stock subscribed for, the company now holds a certificate of deposit for $675—the original $1000 less the $250 paid the salesman and the $75 discount allowed the purchasing bank. "The companies are nearer their ready cash than before, but they do not have the real money. The certificate of deposit in the purchasing bank is offered a second bank and again a discount is made, often running as high as 15 per cent. This means that the company offers the $675 certificates of deposit for $573.75, which is 15 per cent less than the face value. The company now has its money (when the second bank buys the first bank's certificate of deposit), but it has only $573.75 for $1000 worth of stock. In a word, it starts out whatever business it may or may not venture into, with but little more than one-half the cash which it is supposed to have, for the stock subscribed." Do not pay the salaries of glibtongued stock salesmen... Curry your intelligence and invest in government securities. Liberty bonds are a better buy now than they ever were. War saving stamps and treasury savings certificates are on sale at your bank and postoffice. Put your money in them. You will have it when the pinch comes. Now that eagleful and able in price there must be or outside of it daily friendly when any new be studied by vestigate it from same time plan formed. I have methods (of r suggest in add American for carrying out." It is reported sociation is sort of plan loss of a single useless." has committed itself to a constructive, comprehensive system of highways and must necessarily lose heavily if the system as a whole is not carried out. Economical transportation means a continuous route of good highway from the point of shipment to the point at destination, and no stretch of road can be considered industrially valuable if marred by frequent gape of almost impassable roadway. Moreover, the decisive majority with which the people of the state voted for these bonds on July 1, 1919, is significant of their determination to have this necessary road system completed. In the face of the tremendous vote cast it appears to be the plain duty of the administration to see that the will of the people is executed. For the obvious reasons suggested I am urging the submission to the people of California of an amendment raising the interest rate on the highway bonds. I shall exert every influence in my power to aid in the adoption of the proposed amendment so that the splendid system of highways, which has already put California in the forefront of the nation's states may be entirely completed and afford every community in this state easy and inexpensive access to every other portion of the state. In order that the work may not be further delayed, it is now proposed by the highway commission to offer to the respective counties of the state of California the present bonds bearing 4½ per cent interest with the understanding that the money subscribed in this fashion is to be expended by the highway commission in those portions of the agreed highway system lying within the boundaries of the subscribing counties. This will enable those counties with available funds to invest in these state bonds The report of the California development board for 1918 and 1919 is off the press and ready for free distribution from their information bureau at the Ferry building, San Francisco. Special attention is given to the increasing industrial importance of California's ports and harbor improvements, imports and exports. Building activities, bank clearings from the principal cities and detailed report of financial conditions for the past two years, is of pertinent interest. Estimated population of cities over 1500 or those which have enjoyed phenomenal growth since 1910 census, are given with estimated percentage increase since that date. When the United States census is completed, the California development board will issue a supplement showing actual population and percentage of increase. In many respects this report marks a radical change from previous issues. Production, valuation and acreage of field and fruit crops are given both for 1918 and 1919, with a most comprehensive table showing the estimated disposal of the commercial fruit crops and the five counties leading in number of bearing and non-bearing trees. For the guidance of the traveler, list of automobile stages and routes is given. The location and installed capacity K.V.A. of hydro-electric plants operative in California at the present time is contained in this report. The summary of values heretofore included in reports of the board is omitted in this issue. They would be but estimates, too elastic for real value and subject to distribution. Such compilations are often misleading when purely estimates and subject to too great deferential between grower, jobber and consumer; goods in warehouses, etc., to be greatly relied upon. The California develop- ANAHEIM GAZETTE JAPANESE NEWSPAPER ADVISES EXTREME CAUTION Oriental Planning Campaign of Resistance to Exclusion Move Formation of an organization in addition to the Japanese Association of California to aid in the fight to retain the property holdings the Japanese have in the state is suggested by a "Los Angeles Correspondent" in an article which appeared in the Sacramento Daily News, a Nipponese paper. The article was translated for the California Oriental Exclusion League. The article, which was headed "Plans for Resistance in the Present Crisis," follows: "It is impossible to escape anxiety because of the many serious matters which arise, one after another, in connection with our plans of resistance in the present crisis, and their relation to our compatriot's plan of a hundred years. We hear that newspapers of the white people are publishing articles from the Japanese papers translated by Chinese and Koreans who are familiar with the Japanese language. If this is true we Japanese newspaper writers must be very careful. Of course, even Japanese newspapers do not publish anything unlawful, but we must add to our carefulness still more carefulness." To meet the present crisis, first there must be a body organized within or outside of the Japanese Association and Chamber of Commerce, for daily friendly consultation, so that when any new question arises it will of boiled rice in a baking dish, cover with slices of hard-cooked eggs and cover the sliced eggs with creole sauce. Repeat until baking dish is full. Grate cheese over the top and bake for 20 minutes in a moderate oven. Eggs in Totato Cups When fresh tomatoes are in season no more attractive way of serving eggs can be found than this. Select the desired number of good-sized tomatoes, allowing one to each person. Cut off the blossom end; scoop out the seeds, and stand the tomatoes in a baking pan in the oven until they are partly cooked. Put a ½ teaspoon of butter and a dusting of salt and pepper into the bottom of each and break in 1 egg. Place in the oven until the eggs are "set" to the desired hardiness. Have ready a round of toasted bread well buttered, and place each tomato in the center of a round of toast. Serve hot. Eggs Coddled in Tomato Sauce Make a tomato sauce by melting 2 tablespoons of butter and stirring into 3 tablespoons of flour, ½ teaspoon of celery salt, ¼ teaspoon of pepper, and 2 teaspoons of salt. Strain 2 cups of tomato pulp and juice through a sieve and add to the butter and flour. Cook until thickened. Place ½ of the tomato sauce in a baking dish, break 6 eggs, one at a time, and carefully slide each egg into the sauce, taking care not to break the yolks. Cover with the remaining sauce, sprinkle with grated cheese, and bake in the oven until the egg is set. It is well to serve each egg on a round of toasted bread, or each may be baked in an individual ramekin if preferred. POTASH DEPOSITS OF GERMONY NEWSPAPER ITEMS—1940 The peace has been ratified with Germany. A cigaret, a pipe, a cigar, and a jar of tobacco have been placed on exhibition in the Museum of Natural History. The city adopts plans for cleaning the streets. Gunboat Gertie knocked out Battling Bessie in the third round. Railway men go on strike for a two-hour day and $500 a week. Sugar drops to 90 cents a pound. DIFFERENT WAYS OF PREPARING EGGS Appetizing Dishes Can Be Made from Product of Hennery Now that eggs are a little more plentiful and comparatively reasonable in price they can provide a welcome variation in the family diet. In many families eggs are seldom served except at breakfast, but they furnish just as many possibilities for delectable dishes for luncheon or supper as they do for breakfast. They can well take the place of a meat dish, for, like meat they furnish protein, fat, and mineral matter and the yolk is also a good source of vitamin. A few recipes for attractive dishes suitable to serve in place of meat for the midday or anneese language. If this is true we Japanese newspaper writers must be very careful. Of course, even Japanese newspapers do not publish anything unlawful, but we must add to our carefulness still more carefulness. "To meet the present crisis, first there must be a body organized within or outside of the Japanese Association and Chamber of Commerce, for daily friendly consultation, so that when any new question arises it will be studied by specialists who will investigate it from every side. At the same time plans of resistance must be formed. I have before stated the methods (of resistance) but would suggest in addition that Japanese and American secretaries be employed for carrying on active movement. "It is reported that the Japanese Association is soon to consider some sort of plan. Be that as it may, the loss of a single day may render it useless." POTASH DEPOSITS OF GERMONY The potash deposits of Germany, which were discovered by the Prussian government in 1843 at Stassfurt while boring for rock salt and which occur in upper layers of rock salt in the plains of northern Germany, have been estimated to occupy a volume of 10,790,000,000 cubic meters and to contain 20,000,000,000 metric tons of potash salts, corresponding to about 2,000,000,000 metric tons of potash, a quantity sufficient to supply the world for 2,000 years at the present rate of consumption. These beds, according to the United States geological survey, were first exploited about 1860, and have furnished practically the entire world's supply of potash for many years. HELP PREVENT FIRES "Help Prevent Forest Fires" is the slogan which will appear on all mail passing through Uncle Sam's post offices at Sacramento, San Diego and Los Angeles as a result of orders just received from the postmaster general, according to forest service officials here. "We hope, by the use of post office cancellation dies, as well as by other means, to bring home to the people of California their individual responsibility in the matter of forest fires," says Paul G. Redington, district forester for the California district of the forest service. "Campers in the national forests of this state last year were responsible for over thirty per cent of our fires," he continued, "and yet those very campers are loudest in their denunciation of the annual destruction of our forests by fire. If they would only learn to be careful—to build a small fire and never to leave it until they had put it out with water and then covered it with earth, they could go back each year to their favorite..." When the completed board will bring actual increase, art marks obvious is and acreage given a most for the commercial ties lead and non-traveler and routes capacity its operation time The report of past two months over enjoyed 10 census, percentage When the completed, board will bring actual increase. Art marks over enjoyed 10 census, percentage When the completed, board will bring actual increase. Shirred Eggs with Rice Fill a baking dish half full of hot boiled rice. Break six eggs and carefully drop them in the rice, taking care not to break the yolks. Pour a cup of cheese sauce over the eggs and rice and bake in a moderate oven until the whites of the eggs are set. To make the cheese sauce: Melt 1 tablespoon of butter and stir into it 1 tablespoon of flour, 1 teaspoon of salt, and 1-8 teaspoon of white pepper. Add 1 cup of cold milk, and stir over the flame until thick and creamy. Add 4 tablespoons of grated cheese and stir until melted. Creole Eggs Hard cook 6 eggs. Cook ½ cup of washed rice in 2 quarts of boiling water containing 1 teaspoon of salt. Make a sauce in the following way: Melt 2 tablespoons of butter in a skillet, and add 4 tablespoons of chopped onions. Cook until the onion is soft, but not brown. Add 1½ cups of canned tomatoes and 2 finely chopped green peppers, and ½ teaspoon of salt. Cook for 15 minutes. Place a layer "Campers in the national forests of this state last year were responsible for over thirty per cent of our fires," he continued, "and yet those very campers are loudest in their denunciation of the annual destruction of our forests by fire. If they would only learn to be careful—to build a small fire and never to leave it until they had put it out with water and then covered it with earth, they could go back each year to their favorite camp grounds. As it is, many of the most beautiful of mountain camping spots are being destroyed by fire each year." "Help Prevent Forest Fires" should be the first thought and the last of every mountain camper this year, according to Redington. A VEGETABLE GOLD BRICK Savage disciples of Voodoo worship in the American Tropics ascribe supernatural powers to the jack bean. These tribesmen plant a row of the seed around their rude gardens in the belief that the plant will punish trespassers. This custom was doubtless brought by Negro slaves from Africa, where the very similar sword or fetich bean is thus worshipped. But the bureau of plant industry, United States department of agriculture, fails to support this weird belief concerning the bean. Nor do these scientists find much else to recommend this plant stranger from the West Indies. The jack bean, it appears from abundant experiments, is a prolific plant. It is not unusual for the seeds in their 14-inch pods of a jack-bean plant to outweigh its own herbage; and the herbage, if cut green, frequently crops at the rate of 16 to 20 tons per acre. This wonderful productivity makes the bean a favorite of the get-rich-quick gentry who seek What puzzles one about the conduct of the Creel bureau is the statement that it left some uncashed checks lying around the place when it vacated. This is the only administration bureau which overlooked anything like that. Chautauqua Week Family Washing SAVE your wife the drudgery of the washtub by sending us your family washing. It costs you very little when compared to the pleasure it will bring to your wife—put the burden on us. Send us your shlrs and collars Immaculate linen is the mark of a gentleman. You get the best work here. Patronize a home concern. Anaheim Laundry Company Phone 18 Immaculate linen is the mark of a gentleman. You get the best work here. Patronize a home concern. Anaheim Laundry Company Phone 18 WE KNOW MEATS —"Every man to his own business" is a well-known saying—and we believe that this applies to us. Our business is buying meats as well as selling meats—upon the buying depends the success of the business. That's why we buy only the best meats—and we know the best meats. Any piece of meat that you buy in this shop has been selected by us because we know that it is a good piece of meat, meat that you can eat with satisfaction. Upon this basis we ask your patronage. Anaheim Cash Market 109-11 N. Los Angeles St., Anaheim J. E. STROUP, Proprietor Are You Going to Build If you contemplate building new or repairing an old building, let us figure on your material. We handle everything you need, and our prices are right. Griffith Lumber Company South Los Angeles St. H. M. ADAMS, Mgr. ANAHEIM FEED and FUEL CO. DEALERS IN Wood, Coal, Hay, Grain Seeds and Flour PUBLIC WEIGHING SCALES Phones: Pacific 317 Home 294 ANAHEIM FEED and FUEL CO. DEALERS IN Wood, Coal, Hay, Grain Seeds and Flour PUBLIC WEIGHING SCALES Phones: Pacific 317, Home 294 A. V. Vail, W. D. Grafton, Props. Good Place to Buy— G-O-O-D L-U-M-B-E-R C. GANAHL LUMBER COMPANY Anaheim, Cal MEATS OF HIGHEST QUALITY —That's what this market prides itself upon. None but the very best quality steer beef is ever sold over our counters. We are here to prove this statement. Let us supply your every want in quality meats. Schneider's City Cash Market Phone 20 117 West Center St. If Governor Edwards makes the United States as wet as the Atlantic ocean like another New Jersey governor reduced the high cost of living and kept us out of war we see right now where that ocean is going to go dry. WE BUY, raise, and sell fur-bearing rabbits and other fur-bearing animals. List what you have with us, stating your lowest prices on large lot shipments. The Fur & Specialty Farming Co., 515-517 N. P. Ave., Fargo, N. Dak.