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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 27, 1920)
10 THE MOItXIXG OREGONIAX, TUESDAY, JANUARY 27, 1920 HIDES ARE SELLING follows: Winesaps, extra fancy, medium to large. t2.60t&3; fancy, J2.404p2.50: choice, 2.10tf 2.25; orchard run, J1.90 Romes, extra fancy, medium to larsa, (2: fancy, 1.75; choice, J 1.50. Arkansas Blacks, extra fancy, small to large, $2.50; choice, $1.1)0. Ben Davis, choice, medium to large. $1.40. STOCK LIST IMPROVES FREE FROM ALL DOMINION GOVERNMENT TAXATION AUJj CLASSES of shares, ex cept RAILS, ADVANCE. AT HIGHER PRICES V Butchers Profit by Scrap Be tween Dealers. PAUSE IN EASTERN MARKET Tanners Slow Down, Following Big Baying Movement at Open ing of Tear. A number of the larger hide dealers ap pear to be encaged In a contest to see who can pay the most money for hides. This warfare has excited, the market In this territory, much to the Joy of butchers and other sellers of hides. Judging from past events of the kind, the affair will not last Ions, but while it is on those who have hide to dispose of are making the most of it. The scrap Is a local one, Judging from the latest advices received from the. big eastern hide markets, which say that the edge has been taken off the buying flurry which started Just after the turn of the year. Usually the market sags off early In January, but this year, following the De cember slump, which was oaused largely by the coal strike, the market experienced a decided reaction and buying by the tan ners on an enormous scale was in progress In the middle west and in the Atlantic coast markets. Testcrday"s reports from the east were that tanners' purchases have slowed down and they are buying now only from hand to mouth. The approach of the grubby season Is also taken as an Indication that values may be on an un certain basis for the next two or three months. ine learner marKets In the east are healthy, as regards good grades. The best leather Is In sharp demand and strong io price. But sellers report It very difficult to dispose of poor leather. ITE PRICES HAVE CPWABD TREND Shortage of Storks of Crnde Drugs at 'ew York. The scarcity of aniline oil has caused n advance In the price of coal-tar Inter mediates, says Drug and Chemical Mar kets this week. Rejorcin is higher,, and metanitranlline.paranitranlllne. alphanaph tnol and naphthylamlne are following tne upward tendency. Coal-tar crudes are scarce and higher. Domestic colors con tinue in strong request, and the market has been stripped of many dyes. in spite or tne shortage of stocks of erude drugs the volume of business for the week was very fair. Quinine Is stronger. Alcohol, both U. S. P. and de natured. Is higher. Japanese camphor and rhubarb are easier. Makers have ad vanced ether, antipyrlne and terpln hy- ' crate. Inquiries for heavy chemicals were re ceived In the trade In large volume, but the purchases were small and for Im mediate requirements only. There Is very little sulphuric acid for spot delivery, and the price has advanced slightly. Caustic soda is unchanged. Cables from Sicily Indicate higher prices for Messina 'essences. Oil of lemon and oil of orange have been advanced sharptly in the New York market- Spearmint is scarce and higher. Western distillers have advanced the price of peppermint oil Menthol Is quiet. In vegetable oils, buyers are not In clined to commit themselves beyond im mediate requirements. Spot China wood oil and peanut oil are higher. Palm oil Is in strong demand. Domestic cocoanu oil in tanks Is lower. The linsed oi market is dull. FEW CHANGES IX COARSE GRAINS IJght Demand for Corn. Oats or IJarle. MTieat lower in East. The coarse grain market was dull with few changes of importance. January corn bids at the Merchant' Exchange were re- duced 60 cents and later deliveries were unchanged. Clipped oats ranged from DO cents lower to 50 cents higher. Sacked oats were unchanged to fio cents lower. There were no bids on barley. Minneapolis wires reported cash whea unchanged to IV cents lower. veatner conditions In the middle west, as wired from Chicago: "Northern Till rois cloudy, cold; central Illinois clear. fine, cold; western Missouri clear, cold eastern Kansas cool, cloudy; eastern Iowa clear, cold; Ohio valley clear, cool Kentucky clear, cold: Minnesota clear, cold: Canada blizzard, cold. Forecast Cold ware predicted for grain belt." The Italian government has temporarily abolished the duty on wheat and flour mntil June 30. Terminal receipts. In ears, were re ported by the Merchants' Exchange as follows; Portland Wlreat.Barley.Plour.Oats. Hay. CUBE BITTER CP WITH PRINTS Extras Sell Three Cents Higher at 68 tents. The butter market was firm, cube ex tras selling at 68 cents, an advance of 3 cents over the close of last week. Prints generally moved at the new quotations, based on 62 cents for parchment wrapped In boa lota. There was no change in the egg mar ket. The cash buying price of uO cents delivered to country shippers will be in effect again today. Poultry and dressed meat receipts were ight and prices were unchanged. Decrease In Wheat Visible. The American visible wheat supply com pares as followsr Bushels. Decrease. ... B2.39 1.000 2.907.000 12S.871.0O0 2.313.0O0 ... lo.127.OOl) 1.13.-..0110 . .. 49.6.VJ.000 . . . ;s.4rs.ooo ... 63.45o.UOO January 2(5, 1920 anuary 2, lltiv anuary 2S. 1918 anuary 2i, i!17 anuary 31. 111 anuary I?u, 1915 2.167.0O0 4 .3.000 2.S81.000 Increase. The corn visible is 1,878.000 bushels, an increase of 41,000 bushels; the oats visible is 11,661,000 bushels, a decrease of 757.000 bushels; the rye Increase Is (598.000 bush els; the barley decrease Is 55,000 bushels. Potato Movement Small. There was a small movement In the local potato market and while prices were not changed, the market had a weak under tone. One car each of Oregons and Wash Ingtons arrived. Shipments Saturday were two cars to Stockton and one each to Toppenish and Eugene. Bank Clearings. Bank clearings of the northwestern cities vesterdav were as follows: i7 pannirH. a ances. $o.73H.134 $1.14.418 6,7"0.313 2.229. l!i .07,209 1 81.9118 2.774.143 1.220.251 Portland Seattle . Taeoma Spokane PORTLAND MARKET QUOTATIONS Grain, Hour, Ford, Etc. Merchants' Exchange, noon session: Hid. Oat Jan. Feb. March. No. 3 white feed $61.00 $02.o0 $03.00 Corn 61.00 62.50 60.25 per TCo '' vellow ...... Eastern oats ana corn, duik: Oats 36-lb. clipped .. 80.00 60.;.0 SS-lb. clipped 61.50 62.00 Corn No. 3 yellow ii9.50 B0.2. WHEAT, Government basis, $2.. bushel. KLOLR Family patents. Iia.lo; miners hard wheat. $13.75; whole wheat, $12.05; graham. $11. SO; valley, $11.4u; straignts. $11 per barrel. MILLKhbU Prices r. o. D. mm. cm cartage $2 extra. Mill run. car lots or mixed cars, $45 per ton; rolled barley, $73; rolled oats, gun.uu; grounu narie, io. scratch feed, $S0. CORN Whole, $00: cracked, per ton. HAY Buying prices, f. o. b. Portland; Alfalfa, $31.00; cheat, $22; clover, $2; oats and vetch, $26; valley timothy, $20 28. Dairy and Country Prod ace. Rl'TT V. H Cubes, extras. 58c per pound; prints, parchment wrappers, box lots. 62c; cartons. 63c; half boxes, 'ic more; less than half boxes. 1c more; butterfat. ro. l. 5ia0c per pound at stations; Portland delivery, ordinary grades, 62c; A grade, 64c. EGGS Jobbing prices to retailers: Ore gon ranch, candled. 52MiC; selects, o659c. CHEESE Tillamook, t. o. D. liuamooK; Triplets. 32c; Young Americas, 33c; long horns, 33c. Coos and Curry, f. o. b. Myr tle Poiat: Triplets, 31c; Young Americas. 32 c. POULTRY Hens, 30 34c: springs. 30c: ducks, 35lfc.40c; geese. 20425c; turkeys, live, 37c; dressed, choice, 4.Sc. VEAL Fancyi 20c per pound. PORK Fancy, 21c per pound. Fruits and Vegetables. FRUITS Oranges, $4.256.00; lemons. $4,5015.75 per box; grapefruit, $3.256.a per box; bananas, KJtlllc per pound, ap ples, 75c4i$3.O0 per box; cranberries. $5.00 Der box. S15 per barrel. VEGETABLES Cabbage, 5'48o per nound: lettuce. $3.50 la, 4.00 per crate; beets, $3.50 per sack; cucumbers, $2.002.25 dozen: carrots. SI. 75 per back: celery $8.oO9.0o per crate; horseradish, 15c per pound; garlic. 40c per pound; turnips S3.50 Der sack: caullfinwer. $2.253.25 per crate: tomatoes. S4.50n5.00 per box; sprouts, 17Vc per pound; parsnips. $3.50 per sack: artichokes. $2.00 per dozen. POTATOKS oreiron. 4. 25fir'4. 75 per sk. : Yakima, $4.755.25; sweets. 8c per pound. OMU.N'S Oregon. H'ifottijc per pound. Steels, Motors and Oils Are Strong est Features Liberty Bonds Rally Slightly. NEW YORK, Jan. 26. Stocks wen sluggish and uncertain of trend at the start of today's session, but Improved In all quarters except the railway list later. Many of the day's material gains were registered by issues recently under bearish pressure. To tnese were added several promlnnt Industrials and specialties, which rumor associates wlta early dividend ex pansion. The further collapse of international rates carried British. French. Italian and many minor remittances to discounts con siderably under low records established last week, heavy offerings of bills 8galn emanating from London. Prices were at maximum quotations In the last hour, the only active period of the day, regardless of call money's rise from 7 per cent, the initial rate, to IO per cent. In the main, final quotations were one to three points under highest levels, In consequence of profit-taking. Sales amounted to 775,000 shares. Steels, motors and oils were the domi nant features. Food, paper, textile, metal and utility issues helped to swell the movement at advances of one to three points, Cuban-American Sugar incidentally gaining ten points net. Liberty bonds rallied slightly, Interna tionals eased and most domestic rails and industrials were irregular. Total sales, par value, aggregated $11,750,000. Old United States bonds were unchanged on call. CLOSING STOCK QUOTATIONS. Sales. Am Beet Sug Am Can .... 4.500 Am C & F ... I.80O A H & L pfd 1.20O Am Loco ... S.&oo Am St St Ref. 2.3UO Am sug er.. u,uvu Am Sum Tob l,l00 Am Tel & Tel l.loo An Cop 4.64MJ Atchison .... 600 A G Ac W I S S 400 Bald Loco .. 72.80O Bait & Ohio. . 3i0 Beth Steel B. 17.900 H & S Cop l.OOO Cal Pet 30.O00 Can Pao .... 3.00 Cent Leather. 4,000 Ches & Ohio.. loo C M eV St P. .'100 Chi & No. . . . 200 CRIt Pac . . 1 oo Chino Cop .. 2iK) Col F I 2.200 Corn J'rod . . 9.900 Crucible Steel 37,5K Cuba Can Sug 4,700 h.rie 70 Gen Elec .... 5O0 Gen Motors .. 11.0ih Gt No pid . . . :rm , ore Clfs K'lO Illinois Cent . 2oo Ins Cop 1.800 lnt M M pfd. 8.200 Int Nickel ... 6,200 lnt Paper ... 15.100 Ken Copper. . 2,400 Louis & Nash loo Mex Pet 77.6O0 Miami Cop . . 2wj Midvale Steel 2,400 Miss Pac .... 800 Nevada Cop.. 100 N Y Cent . . . 1,400 N Y N H H 4O0 Nor West No Pac l.TOO Pac Tel & Tel 6o Pan-Am Pet.. 14.100 Penn 2,00 Pitts W Va Pitts Coal . . . 300 Ray Con Cop. 500 Reading ;too Rep I ft S ... 54,700 Shat Aril Cop Sin Oil c Ref 12.500 So Pac 2, IO0 So Rail Stude. Corp . . 39.900 Texas Co ... 5.300 Tob Prod ... 2.800 Union Pac ... l.SOO United Retail. 10.000 U S I Alcohol O.r.oo II S Pteel . . . 44.700 U S Steel pfd 2'K) Utah Copper. 7oo Western Union 200 West Elec ... 1,1 oo Willys-Overrd 30.600 Nat Lead ... 3.KOO O C Gas .... 3.500 Roy D N Y.. 23.600 Last High. Low. Sale. 91 54ii 534 04 139V, 137V 138V3 118 116 118 lOOVx '98 Vi Sv 67 V4 6S, 13- 1 .'), 136? 91',, 90 91 97 T 97 87 62 V 1 62 S3 "t 83 83 ItHlii 161 Vs 161 U 118 113 110 31 31 SI" 9714 .95i 7 28 V 27" 27 "4 42 41 V, 41 Va 1284 127V 127H 93 V, 91 93 V. 50 Vi 05 V &0 V ::', 3 38v 85 V 804 80 V 26 2H 26H 37 V 37 V. 37 V 42 40V 42 85 84 85 233 222 229 01 Vi 00 07H 12s, 12 12S 168 3 67 V 168 303 303V, 302 78 78 78 38 la 38 38 89 88 7s 8 07 56 5t 98 V 97 98 20 24 ' 25 85 Vi 81 V, 84 V4 31 30V, 31 lo6V 1061. 06V 202 195? 20O 23 T, . 23;, 23', Vl 4MV, 50H 25 24 V, 20 16 16 16 68 VJ 68 V4 68 4 26 V, 2V, 26 V, 95 Vi 78V, 78 7SV 429 42, 42 96 92 Vi 90 V4 42V4 42Vs 42V. 28V, 62 , 62 62 4. 21 Vs 21 54 21V, 75 V. 75 73 113-V. Ill 114 43 42 V4 42 43 42 43 10O 10O 100 21V4 If .' lOOVi 104 204 201 2l3 91 90V, 91 122 121 122 8. 861, 88" 109 106 108, !( 105V 1061, 115V 115 313'. 76 75 V4 75-. 8'i 86 V 86 53 53 58 28 27 74 28 V, 8Vi . 82', 84 49 4 48 110 10S 110 9 A Story in Chapters I J TJf- CHAPTER FIVE rTti i .'J? fi Buying Department THE buying force of a modem trust company is an organization in itself. Buying is the foundation of any business that deals in merchandise. It is often said that a bond issue well bought, is sure to sell easily. The buying department is the machinery 'by which a large company assem bles the investment securities, which the sales department is to offer the investing public. Yet the investor seldom comes in contact with a bond buyer. No one man can buy bonds successfully. Specialists are required some with legal training, some with engineering talent, some with a comprehensive knowledge of the broad subject of finance, some with a practical knowledge of agriculture an ability to appraise land values in a given municipal district Furthermore, all of these talents must be co-ordinated within a department Every competent bond buyer must know something of credits, geography, law, engineering. He must have an intimate knowledge of general financial conditions. Also he must have foresight, poise, an analytical mind and discriminating judgment. He must be always alert The Lumbermens Trust Company has a comprehensive buying organizalion, presided over by an able executive and composed of carefully trained specialists. (To Be Continued.) urrbermers jp-us1" (fcx Sxr Fr-a.rcisco Monday 52 Year ago . . 13 Eea'n to date. 535 Tear ago ..5983 Taeoma Saturday .... 25 Year ago Sea'n todate.442 Year ago ..4430 Seattle Saturday Year aso . . 3 Sea'n to date. 4214 Year ago . .4553 Jfil 835 68 20 38 19 1 1 386 575 1 36 129 12 1130 2295 R06 937 212 49 13 4SO 930 510 484 1 924 2078 8.215,000 8.788.000 8.556.000 7.007.000 PXOUB rKODl'CTION HOLDING EVEN Xecrease In Stocks of Wheat in Elevators and Mills. The S7th weekly bulletin, covering wheat and wheat flour movement throughout the United States for the week ending Jan uary 16, In comparison with figures for the same period a year ago follows: 1920. 1919. Wheat receipts from farms, bushels .... Wheat receipts from farms previous week. buhels Wheat receipts from farms June 27 to January 16, bushels. 670,403,000 658,110.000 plour produced dur ing week, barrels... 3.071.000 2.670.000 Klour produced dur ing previous week, barrels Klour produced June 27 to January 16, barrels Total stocks wheat all elevators and mills, bushels 225.947.000 249.266.000 Total stocks wheat all elevators and mills previous week. bushels 234.191.000 251.164.009 change for week. decrease, bushels... 8,244.000 1.898.000 Exports of wheat and flour July 1. 1919, to January 16, 1920. amount to 63.493.000 bushels of wheat and 9.091,000 barrels of flour, making a total equal to 124,403,000 bushels of whea,t compared with 109,933,000 bushels of wheat and 11,271.000 barrels of flour last year te January 16, 1919, the first 16 days of January being prorated from the monthly total, making a total equal to 160,714.000 bushels of wheat. Staple Groceries. Ixcal Jobbing quotations: SUOAK Sack basis: Cane granulated. 15.00c per pound: beet. 11.27c; extra C 15.50c: clolden C, 15.40c; Yellow D, 15.30c; cube, in barrels. 16.75c. NUTS Walnuts. 32u.30c: Brasil nuts, r.Oc; filberts. 30c; almonds. 303Sc; pea nuts, 1515Vc; chestnuts, -20c; pecans. J 32c; hickory nuts, 10ltfl6c; cocoanu t, $2 per dozen. SALT Half ground, 100. $17 per ton; 00a. $18.00 per ton: dairy. $25gf2S per ton. KICK Blue Rose, 16c per pound. BEAN'S While, 8Vic; pina. S'ic; lima. 17c per pound; bayous. 10c; Mexican red. Sc per pound. COFl'EB Roasted, in drums. 39 001c Provisions. Local Jobbing quotations: HAMS All sizes. 34 37c; skinned.. 27 30c; picnic. 2728c; cottage roll. 30c LARD Tierce basis, 30V4c; compound. 28 '4 c per pouud. DRY SALT Short, clear backs. 2S32c; plates, 23c BACON Fancy, 4150c; standard. S3 30c Hides, Pelts and Furs. HIDES Salted, all weights. 2227c; green. 17$f-'5c; calf, green or salted, 60fr, 70c: kip. 30c; bulls, salted, 18c: green, 13c; horse hides, small, $3, medium, $4.50, large. $6&7; dry hides, 35c; dry salted, 29c: dry calf. 60c; dry salted calf. 60c. PELTS Ureen salted, each, $2$3; green salted shearlings, each, 50c(u'$l; dry pelts, full wool, per pound, 32c; dry short wool, per pound, 25c; dry shearlings, each, 25 50c; salted goats, $13, according to size; salted goat shearlings, 25ct$l; dry goats, long hair, per pound, 25c. FUKS Good grade, extra large, large and medium sizes: Skunk, black, $3.75 8.50; short, $2.75(7; narrow, $2&'5; broad, 75c&$2.25. Fox, red, $10&45; gray, $24P 6; raccoon, $2.508; mink, dark, $4cP10 ordinary, $2.50i'8; winter muskrat, $1&) 3.50; wolf or coyote, soft, silky, $820; average, $513; white weasel or ermine. 50c$2; lynx, heavy furred, $1565; or dinary, $lfti oo; lynx cat, heavy, $513, ordinary, $34rO; otter, dark, $1125, or dinary, $8tv21; marten, pale, brown .or dark, $o&30; fisher, pale, brown or dark. $12&80; bear, black, $120; brown, $lg? 14; wildcat, 25c(ra$2; civet cat. lOc'SJl: house cat, 10ijj60c; ring tails, 25c&$2; jackrabbit, 104120c; moleskins, a3Uc Bid. BONDS. TJ S T,rt 3V4s...98.96Ang!o-Fr 5s ... do 1st 4s ..,.91.66. A T & T cv 6s. 99 do 2d 4s 90.70'Atch gen 4s .... 77V, do 1st 4s. . .92.201 D fk R o con 4s.fi4 do 2d 4'4s....92.10lN Y C deb 6s 92 'i do 3d 4V.S. . .93 OOiTJ P 4s 7 ' do 4th 4 Vs. . .91.44! X P 3s 53 V4 I i'iwi.v ...tfn..,Q fie i Az T OS...w87 do 4s 98.36'Pa con 4Vis ....91 U S 2s reg 'loouis P cv 5s loa do coupon . .,inu So Rv 6s 94 U S 4s reg 'lOnviU P 4s 83' do coupon ..lO.-.vlu S leel fis . 98 Pan 3s reg ss do coupon ...88 I Bld. Borvds -Truss- Acceptances (pit&l & Surplus Vooo.ooe Porlard. Oreqorx. JOHN A- KEATING, C- F- WRIGHT. President Vice-President Sevrtia CARL S. KELTT, Vice-President y . E0AO OIT QUI KCTPE5 X. S. JLTESTLaL P.fL E3UTMBY CTAS.TL CAKET F. X. OCrBBS E.&COLU33 J AS. DASAHES. J"E- F. T TCUJES. JOUK A JCEATING CHAELES F- STHTTC3EKT LESLIE X. SCOTT OTA HZ T. VH1S3ST lew 70 o staiemts Investment securities like the following' are few and far between. They are bonds of unquestionable safety, with the added advantage of a very high interest return. The reason for this high interest return on such unusual secur ities is due to international conditions and the price of Canadian exchange. These bonds are all payable 'in gold coin of the United States in New York, or at the quarters of Morris Brothers, Inc. This means you are assured of a fixed return upon your investment and the return of the face of the bond in American dollars. SELECT FROM THESE EXCEPTIONAL OFFERINGS: A mo 6.S.200 :t..,a 30,172 11.000 JU.OOM 2MM 2,roo :tro 33,000 r.,500 t Hi Siaksloos, City of Saskatchewan. School Vancouver, City of. Province of B. C... Vancouver. City of. Province of H. C... V ictoria, City of. Province of H. C Province of H. c Province of H. C Province of H. C Province of B. C Water District Water District V Ictoria. ttr of. ictoria. City of. Victoria, City or, Victoria, City of. Grrater Winnipeg; Greater Winnipeg; te Maturity e JiJ i9r,o 4H l".V 4 J A J 4hi JAJ Price Yield 192.1 1023 J 923 192:1 1923 .1 AJlO 123 . MAS 1923 5 J Jt J 1W22 5 FAA 193 S73 01.57 :us 92-16 92-Ot 4l.T-.t4 3J1 3. 9.-..4S S4.87 7.00 7.00 7.00 7.00 7jOO 7.00 T.OO 7.0O 7.00 7.O0 LIBERTY AND VICTORY BONDS If you must sell your Liberty or Victory bonds, seU to as. It yea can bar more Liberty or Victory lords, buy from iie. On January 26. 1920. the closing Now Tors: market prices wers as given below. They are tl.e govermnr prices for Liberty and Victory bonds all over tha world, and the highest. advertise these prices daily in order that you may always know the Hew lor market and the exact value of your Liberty and Victory bonds 1st. 1st. 2d. 1st. 2d. Sd. 4th. Victory. 3 Vis. 4s. 4s. ' 4'. 4,s. 41s. 4 Vis. Sis. 4 a. Market... $98.88 $91. 60 $90.74 $H2.20 fmW $:3.54 $91.44 $98.36 $-Ji.S interest... .41 .47 .80 .30 1.56 1.20 .44 .o Total $99.29 $92.07 $91.54 $92.70 $91.91 $93.10 $92.64 $98.50 $S 91 When buying we deduct S7c on a $50 bond and $2.50 on a $1000 bond. We sell at the Kes York market, plus the accrued Inter sat. .. Burjlir and Pireproof 8afe Deposit Boxes .for Kent. mmh. Open Until 8 P.M. on Saturdays MORRIS BROTHERS, Inc Ths Premier Munlrlpal Bond Honse Capital One Millini Dollar Marri. Buildina. SOS-SI I Stark St.. krtwwn oil and th. Telephone Hrodway 2151 Kstablisbed Over a Quarter Centary. Undt Supervision SanJang Department State ai Oregon Mining; Stocks at Boston. BOSTON, Jan. 26. Closing quotations: Allouex Ariz Com C 3S 1.TA alu &- Ariz.... 65 alu Hecla. .890 entennlal .... 15 op Kance . ast Butte . ranklin . . . sle Royslle ,ake Copper Mobawk ... Money, Exchange, Kte. XFTW TORK, Jan. 26-. Mercantile paper, per cent. Sterlinc demand. 859: cables. 3.6014. Francs. demand. 12.37; cables. 12.35. Belirian francs, demand, 12.69; cables. .6. Guilders. demand. 38V4: cables. 38 V4. Lire, demand. 14.47; cables, 14.45. Marks, demand. 1.07; cables. 1.08. Time loans strong-: 60 davs. 90 dava and six months, 7 V. per cent. Call money strong; high. 10: low. T: ruling rate. 7; closing; bid, 8; offered at iu; last loan, in. Bar silver. $1.34. Mexican dollars, $1.02V4. Foreign remittances continued to fe line in the later dealings. Sterling 60 lay bills. 3.55U: commercial fUl-iiav Kin. on banks, 3.55 V. : commercial 60-day bills, 3.54; demand. 3.58V4: rabies. 1.SHU. l.lrc demand, 14.60; cables. 14.58. WNDON', Jan. 28. Rar stiver, 81V4d per ounce. Money, 3V per cent: discount rates. snort Dins, o per cent; tnree-month bills. 3,178.000 280.000 82,722.000 69.660,000 WASHINGTON APPLES RECEIVED Demand In I .oral Market Is Quiet and All Grades Are Weak. Two cars of Washington apples were added to local stocks. The demand was limited and prices were weak. At the New York auction market Ore gon Spf tzenbergs. extra fancy, large, sold at $31t3.25'; fancy at $2.f08. Romes. extra fancy, large at 2.503 and fancy at $2.26?. 2,75. Vakima aired t, o. b. quotations as Hops. Wool, Etc. HOPS 1919 crop. 80c per pound, 3-year contracts, 40c average. MOHAIR Long staple, 4045c; short staple, 25tJ0c. TALLOW No. 1 10c; No. 2, 8c Per pound. CASCARA BARK New. 11c; old, 1 per pound. WOOL Eastern Oregon, fine, 40 50c: medium, 4ofti.-tc; coarse, ;io(ij37c; valley, medium, ouio-c; coarse, 35Q'3c Oils. LINSEED OIL Raw. barrels, $2.06 raw, cases, $2.21; boiled, barrels, $2.08 boiled, drums. $2.11; boiled, cases, $2.23, TURPENTINE Tanks. $2.07; casks. $2.22. COAL OIL Iron barrels. 13V4f16c; tank wagons, lvtic; caseB, 24vilc. GASOLINE Iron barrels, 25c; tank wagons, 2-5c; cases, 35Vic Naval Stores. SAVANNAH, Ga Jan. 26. Turpentine, firm. $10'ff !. : sales, 14 1 barrels; re ceipts, 75 barrels: shipments, 2S3 barrels stock. 10.066 barrels. Rosin, firm; sales, 226 barrels; receipts, 792 barrels; shipments, 2O0 barrels; stock, 37.259 barrels. Quote: B. D, E. $18: $18. 05-. C $lS.O5'a)18.10; H, $18. 05ft 18.15 I. $18.201K...O: K. $19.25'319.30: M. $2 25: N. $20.05 20.50; WG. $20.75; WW $21.00. Crude Oil Advances. PITTSBURG, Jan. 2. Pcnnsylvanl crude oil was advanced 25 cents a barre' to $5.25 by the principal purchasin agencies here today. Other grades of crud quoted In this market were unchanged. North Mutts ... 19i i.om aft Osceola . 50 Quiney 60 Vs Sujerior 5 V. 4,"ii:Sup Boston 5 14 IShannon 1 , 6 i I Utah Con 9 34 Vaj Winona 14 4 I Wolverine ..... 20 67 Greene Can .... 36 First prices were 2 to 3 points lower and more active months eold 12 to 14 points below Saturday's closing figures with May touching 15.S2c and closing at that level. The general list closed at a net decline of ft to 14 points. January, 15.47c; March, 15.62c; May. 15.82c; July, 16c: September. 15.75c; October, 15.67c; December, 15.5:'.c. Spot coffee, quiet; Rio 7s, 16c; Santos 4a. 25 Vi 6 26c. New Trfc Sugar Market. NEW TORK. Jan. 26. Raw sugar, steady. Centrifugal. 13.04c; fine granu lated, 15 a 16c. Cotton Market. NEW TORK, Jan. 26. Spot cotton. quiet: middling. 39.15c. ? per cent. J) gc Deschutes County Schools 512 & 6 l Qevereaux R(5mpany MUNICIPAL BONDS 87 Sixth Street - Broadway 1042 Ground Floor Weils-Faxgo Building Metal Market. NEW TORK, Jan. 26. Copper, easier Electrolytic, spot and first quarter. IS. 19Vic; second quarter. 19V4&19c iron, steady. ro. l northern. $45.50: No. 2 northern. $44.50; No. 2 southern, 342. Antimony, $11.25. Lead, steady. Spot and February, 8.60c bid. 8.80c asked. Zinc, quiet: East St. Louis delivery, spot. 9.10c bid, 9.25e asked. Coffee Pot ores Easier. NEW TORK, Jan. 26. The market for coffee futures was easier today under a renewal of scattering liquidation. There had been some buying on Saturday, owing rumors of an advance in Rio which were not confirmed by the day's official cables and there was also some selling on the unsettled 'ruling or sterling ex change or less favorable views as to pros pects for early action on tne peace treaty. Shake Hands with Mr. Partial Payment Bond, Mr. Ordinary Individual. He is here to acquaint you with the soundest and safest and most profitable method of saving yet devised. HeTepresents a system for taking up the good work of "invest-as-you-save" which your Uncle Sam started with his War Bonds. $25,000 (new allotment) 6. Franklin County Irrigation Dist. No. 1, Pasco, Wash. A portion of the district has been under irrigation for eight years. Bonds now offered are for new construction providing water for 11,000 acres. Lien per acre $33 Price, par and interest. Federal tax exempt. ROBERTSON & EWING 207-8 N. W. Bank Bldg. STOCKS may go up or stocks may go down ; but those who invest in high-grade bonds need not worry. They get their interest regularly and their principal when it matures. "The House Built Square" Carstens & Earles, Incorporated Third Floor U. S. Natl Bank Bldg. Bdwy. 4108 Free: 2 Valuable Books: "Inflation and Protporrity" (55 pagn) "Thm Meaning of Property" JOS page) With our whole country perplexed by the abnormal commerciaj conditions which prevail, and an understanding of these con ditions obscured by so many conflicting theories, these two practical books should be read by every manufacturer, jobber and banker. The books contain no advertising. They are not dry nor academic. They discuss big, vital, fundamental economic problems with convincing logic and refreshing style. They are books you will want to read and keep handy, for frequent reference. Copies of both will be sent free upon re quest. Write or phone for yours today. AMERICAN CREDIT-INDEMNITY CQ Of NEW YORK LM. TREAT, mesidemt If. T. MacRill, General Aent Board of Trade Bldjj. Portland, Oregon Phone: Main 1179 E. H. ROLLINS & SONS 11 l. 5. BANK nl.lx;. Phone Broadway 1274 Portland. Oreses. fl offer nukjert to sale $50,000 VICTORIA ISLAND, CAL, RECLAMATION DISTRICT T-e BOXDS Due erially. . Price to yield 5.40! $50,000 DELTA FARMS, CAL, RECLAMATION DISTRICT 6 BONDS Due serially. Price to yield 5.40 Full particulars on application. enable one to pay J10 down and $10 a month on any Rood Municipal Bond that he or she may choose. The bond will draw from 5 to 7c"c. depending upon his selection, and while he is paying in his money it will be earning the same inter est as the bond. send for our complete dearriptive Uooklrt explaining the details of this "Copyrighted" plan of investing- as you wve. CLARK.KENDALL &C0 COvmNMENT rWNITirAL AMV CORFOHXTIOM "rj BONDS STARK minuiiiwiniuiiuTiHiiiSiiiniiniiiiiiiiiiiiiiniiiuii aoennone FACTS NUMBER 497 Millions to Be Saved There are about 70,000 miles of macadam roads In the United States, constructed at a cost of $420,000. 000. To destroy this would be willful waste. This mac adam can be utilized as a base for a road, street or highway if it is paved with WAR RE HUE BITOLITHIC WARREX BROS. CO. HALL & COMPANY BUT AND SELL. Railroad Public Utility Industrial Municipal BONDS YIELDING) 5 to 7 Foreign Government Loans Local Securities Preferred Stocks Lewis Bldg., Portland, Or. Southern California Edison Company Pacific Coast investors know the "Edi son" Company the character and ability of its management the size and scope of its operations its stable record of earnings. We recommend the general and refund ing 6 bonds of this company for your investment at 96 and interest. To Yield Over 6.30 Send for Circular OR 022 The National City Company Correspondent offices in over fifty cities Portland Yeon Building Telephone: Main 6072. Bonds Short Term Notes Preferred Stocks Arthur Berridge & Company Certified Public Accountants and Auditors Income Tax Specialists and Advisers 619 Worcester Block Main 8621- DO yon know that much of your Income Tax trouble comes from poor Accounting Systems and Records ? Let us prepare your Tax Reports and revise your Business System. CONSULTATION FREE Phone Your Want Ads to The Oregonian Main 7070 A 6095