THE MORNING OltEGONIAN, WEDNESDAY, MARCH 15, 1922
17.
BRITISH BONDS ADVANCE
MARKET RESPONDS TO RISE
IN STERLING EXCHANGE.
8.40
1.100
600
of
heading 4s Strongest Feature
Domestic List Lilberties Are
TrlHe Easier.
NEW YORK, March 14. Responsive to
the recovery in sterling exchange. British
bonds rallied smartly In today's broad but
comparatively light dealing. United King
doms of 19-2 were the outstanding feature
of that group. Continental, Japanese and
Mexican bonds of various denominations
were Irregular.
The strongest feature of the domestic
list was heading 4s. which rose two points
on the buying of railway -"stocks in the
la-st half of the session.
Weakness was shown by Distillers Bs.
which lost two points, and Peoria & East
ern Incomes and Cuban Cane 8s. Final
prices for liberty bonis were mainly a
trlfie lower. Total sales, par value aggre
gated fia.790.O00.
The prominence and strength of numer
ous speculative issues and the uneven
movement of shares of Intrinsic value to
day characterized another active but pro
fessional session of the stock exchange.
Dealings approximated 900,000 shares,
but this impressive total was made up
largely cf motors and kindred accessaries,
ugars. independent steels, secondary
equipments and utilities, notably the gaa
group.
Dividend-paying rails and Industries of
the same description became fairly active
and strong later, especially trans-continental,
coalers and several of the eastern
trunk lines.
Specific features of the advance com
prised Consolidated Gas, Studebaker pre
ferred, American Sugar, Cuba Cane Sugar,
common and preferred, American Woolen,
Kelsey Wheel, Cast Iron Pipe, Southern
Pacific. Reading and New York Central,
at net gains of one to six points.
Foremost among the backward or heavy
stocks were the foreign oils, particularly
Mexican Petroleum and General Asphalt
and several of the food f-pecialties. Mark
street railways prior preferred cancelled
Dart of its recent steady advance.
Apart from the more unfavorable aspect
or the labor situation, as indicated by in
creasing probability of a strike by the
oft coal miners and further wage cuts in
the .steel ind textile trades, the, day's
sews was regarded, as encouraging.
Xxtndon markets were steadier, this be
ing evidenced by the rally in foreign ex
change In this market.
Local supplies of call money were usu
ally abundant and freely obtainable In
Drlvate loans at 3 and 3i4 per cent
The recovery in the London rate of
exchange amounted to fully 34 cents
from yesterday's minimum. French snd
Italian rates were 7 to 12 points better, but
neutrals. Including Holland, Norway and
Sweden again reacted. Southern Arneri
can bills were depressed by selling at this
center for London account.
CLOSING STOCK QUOTATIONS. "...
burnished by Overbeck & Cooke com
pany of Portland:
Sales. High. Low. Bid.
Adams Exp.. 200 63 . 63 . B3V4
Agr CLem.... 900 41 40 40
do Dfd 100 68 68 68
A.tax Rubber. 2.700 16 1SV4 16
Alaska Gold.. 1.200 4 Vi
Alaska Juneau 9,000 : 1 Vi 1 lis
Allied Chetn.. l.SlO OS. S7i PS
Allis-Chalm . l.OnO 47V 46 46
do pin aOO 2V 2
Am Ftt Sugar. 800 42 V 41 14 41
Am Bosch ... 8.200 4t 3:i. "40
Am Can Co... 8,200 4.1 44 Vi 45'fc
do pfd 200 10SV, 103 Vi 103 4
Am C & Fdy. 1,300 166 1559i IBS
900
400
3.900
2,400
6.700
1.600
3.100
2.100
500
1,200
2,300
100
1,600
500
2,500
700
"eoo
.200
N T Air Brake
N Y Central. .
Okla Prod ref
Ontario Silver
Ontario & W.
Otis Steel ...
Pacific Dev...
Pac Gas & El
Punta AUegre
Pacific Oil . . .
Pan Amn Pet
do B
Penna .......
Peo Gas . . 3.700
Pere Marquet. 5.600
Pure Oil
PhHlips Pete
Pierce Arrow.
Pierce Oil ...
Pitts Coal ...
Pitts & W Va
do pfd
Pressed St Car 200
Pullman 4,900
Ray Cons .... 800
Heading 0,700
Remington
Replogle Steel
Repub I & S
do pfd
Rep Motors. . .
Roy Dutch Oil
Ry steel Spg
Saxon Motors. 400
Sears Roebuck 900
Shattuck Ari
Shell T & T.. 100
Sinclair 16,900
Stand Oil Ind.
Stand Oil N J
Sloss Shef . . ..
Sou acific ...
Sou Ry
Stand Oil Cal.
StLiSF..
Stromb Carb.
Studebaker ..
Swift & Co. . .
Tenn C & Ch. 2.200
Texas Oil 8.200
Texas Pacific. 1.000
Tex Pac C & O
Tob Products..
Tran Cont Oil.
Union Oil Del..
Union Pac ...
United Alloy..
United Fd Pr..
United Fruit. .
Union B & P. .
U S C I Pipe..
iL-lted Ret St.
U S Ind Al ...
U S Rubber...
do 1st pf . ..
U S Smelting. .
2
81V4
2.
22 22 Vi
95.
63
4oV
49 Vi
58 '4
52 Vi
38
7
28 V4
30
34
16
8V4
61
28
6
65
42
49
57
52
37
. 7
27 V4
30
34 V
16Vi
8
61
27 54
63
82
2V4
r.v
22 Vi
lOVi
8
65
42 Vj
4!4
57
52
87
77 Vi
28
30
34 Vi
16H
814
61
69
118V4
15
75 .
42
32V4
51 Vi
52 Vi
68
117
14
74
40
31
51
"o
51
400
300
10.300
300
200
5,700
4.200
31,100
2.200
2.400
3,000
500
3.000
200
10,900
100
lY.766
4,400
1.500
3,300
100
100
do pfd 119V4
Am Cot Oil.
Am Drug Syn
Am H & Leat
do pfd.....
Am Ice ......
Am Intl Corp.
Am Linseed.,
do pfd .....
Am Loco.....
do pfd
Am Saf . Razor
Am S & Com.
Am Smelter..
do pl'd .....
Am Snuff. . . .
Am Steel Fdy
Am Sugar ...
do pfd .....
Am Sumatra.
Am T & Tel. .
Am Tobacco..
do 'B" ....
Am Wool ....
do pfd. ....
Am W P pfd. ,
Am Zinc
Anaconda
800
1,200
200
200
l.OOO
4.000
1.100
'i. 000
400
4.400
4,400
2. 7O0
1,000
100
1.000
2.200
iisoo
6,300
1,100
900
8,700
100
L700
4,000
6
15V
69
104 Vi
45
31
109
116
7
15
50
93 Vi
126
33
73
"si
124 Vi
131
134
90
107Vi
"i4
49
25
o
15
68
103
44
31
ios'vi
116
TH
IS 50
92
12
S3Vi
82
30
124
iaa
133
89
107 Vi
i3
49
25
oVs
15
6 8 '.4
103 Vi
44 Vi
31 Vi
54 Vi
108
116
TV4
15
50 Vi
93
126
83 Vi
73
9Vi
31
124
136
13SV4
90
107
25
14
49
Assdw Oil 102
Atchison
do pfd
At Coast Line
At G & W I..
Baldwin Loco
do pfd
B & O
do pfd
Bet Steel "B"
Booth Fish...
B R T
Butte C & Z.
Butte & Sup.
Burns Bros...
Caddo Oil....
Cal Packing..
Cal Pet
do pfd
Canadian Pac
Cen Leather..
Cerro do Pasc
Chand Motor.
C & N"W
Chgo Gt W...
do pfr......
Chill Cop.
2.2O0
5O0
300
2.6O0
3.200
100
9,700
200
2,800
i,"ioo"
1O0
1,800
900
20O
400
900
97
86
90
31
107
108 Vi
38
65 V,
64
ii"
5
26
12G
11
74
52
97
85
90
30
106
108
87
65
, 63
ii"
5
25
126
11
73
61
2.500
2,300
5O0
1.000
4.500
9i o
MM
2.600
Chir.o 1,100
C M. St P..
do pfd...
Coca Cola.
IH)
7.700
O A 0 4, 400
MIO
400
3.9O0
8.900
00
1,700
CoJo F && I.
Colo Southern.
Col Gas A Etc
Cclumb Graph
Con Gas. .... 14,
Cons Cigars... ...
do pfd
Contl Can....
fit Svo Bnkra
Corn, Prod....
do pfd
Cosdcn Oil....
O K I at P. ...
do "A" pfd.
do "B" pfd.
Crucible ..... 2,400
do pfd
Cuba Cane... 13.500
- do pfd 9;oo
Cub Amn Sugr 11,400
Del & Hudson 2
Dome Mines., l.soo
Del & Lack..
Davison Chem
Endct Johnson
Erie
F.rie 1st pfd..
Klecstor Bty. .
Famous Plyrs 13, 20O
Fed Mg & Smt
io pfd. .... .
Fisk Tire ..
Gaston Wms. .
Gen Cigars. . .
Gen Klf-c...
Gen Motors...
Glen Ald-en . . .
Gen Asphalt
Goorrlch ...
Goodyear . . ,
Granby
Great Nor Or
do pfd
Greene Oanan
Gulf S Steel..
Houston OH..
Hupp Motor..
Ills Cent
Inspiration . . .
lut Ag Cp com
do pfd
Interboro ....
do pfd
Interst Callhn
lnt Harvey. . .
do pfd
Int Merc Mar.
do Pfd
lnt Nickel...
lnt Paper. . . .
Invincible Oil.
Island Oil....
Jewel Tea ....
K C Southern
do pfd
Kelly-Spgfld..
Kennecott . . .
Keystone Tire
Lack Steel...
Lee Tire
Lehigh Valley
Loriliard
Lowe Theaters
L N
Mackay
Marland Oil..
Martin & Parry
Msy stores ..
Mex Pet
Miami
Mid States Oil
Mldvale Steel.
M K & T
do pfd
Mont Power..
Mont Ward ..
Mo Par
do pfd
M St P & 8 S M
Nor Amn ....
Nf t Biscuit...
Nat Enamel. .
Nat Lead ....
Nevada Con..
New Haven..
Norfolk & W.
Nor Pac
Nov Sco Steel
136
36
35
73
71
7
18
17
27
24
38
43
61
28
48
80
3
110
135
35
34
72
69
7
19
17
27
22
38
43
60
27
48
79
2
107
60;
2,900 104
9,"2V) "go"
2.50O 41
100 93
58"
2.5O0
1.MOO
1.8O0
2.SOO
l..r.OO
1.300
200
4.400
l,7O0
20O
2l H
6.900
ii.'ioo
800
200
12.700
9,100
"i.ooo
1 .000
3.000
4H
H0
r.oo
TOO
300
1,700
300
IS
39
26
114
25
115
58 ti
S2
11
17
145
84
"aj
IB
TO
156
10
'i
41
"is"
.".6
.80
. . 12
5.700
tM
2.6O0
1.41X1
5, 7oo
1.30O
7O0
4,700
loo
2,600
3,600
900
2. 600
1,900
100
7,100
2i H
900
13.900
200
6.100
3.600
5.000
5,000
" V.7O0
2. loo
4,f)
200
700
' n'oiio
l.ooo
1.000
6.5O0
700
S.200
2.0O
1 j
15
10O Vi
40
II
4:i
93
io
72
13
46
17
1
2014
26
57
45
29
16
'34"
59
25
2S
31.1
127
27
13
30
12
34
"l"5
22
5
37
lo
14
18
100
82
23
E
103
40
93
57
"id
37
25
114
24
114
57 Va
81
10
17
144
83
"37
15
6!
155
10
"r.n
40
34
78
15
100
40
11
43
2
6
S3
'35
70
12
45
17
1
19
25
56
45
28
16 Vs
"33
08
'ii
i?
126
27
13
30
12
. 33
" i 5
22
8
56
m
14
17
100
so
23
97
85
90
SO
106
108
38
65
64
6
11
5
25
126
11
73
61
89
136
35
34
72
70
7
18
17
27
23
38
43
61
28
4S
79
3
100
24
50
60
21
104
113
35
. 41
92
79
67
4
18
3.9
26
114
25
115
57
82
10
17
1.44
84
10
37 Vi
15
. MlVi
156 "
10
44
60
40
10
28
36
SO
26
7 J
75
15
98
40
11
42
2
6
6
.!
lul
16
71
12
45
17
1
19
26
56
45
29
16
47
33
58
152
14
113
81
25
27
112
126
27
13
30
12
33
64
15
55
62
57
132
37
90
14
.81
23
U S. Steel 15,800
do pf
Utah Copper..
Va Chem
do pf
Var adium St. .
Vivandou ....
W abash
do A pf . . .
do B pf .
Wells Fargo. ..
Western- Pac. .
do pf
Western Union
West A B ....
do K & M .
West Md
White Motors.
Willys-Over ..
do pf
Wilson Tack .
Wis Central ..
Wool worth ...
Worth Puinp .
W & L B ....
Vhite Oil ...
400
200
500
400
6. 4 OO
1.000
3.400
14,100
500
""406
300
300
100
1.400
800
1.200
1,800
700
700
400
2
68
"39
23
Hi"
37
80
21
95
29
44
102
105
11
44
34 V4
27
62
9
18
133
28
6
140
"3S" -46
49
62
102
36
95
117V4
63
36
76
89
9
8
26 Vi
18
'19
56
96
84
58
10
41
6
31
40
82
2
67
39
22
175
36
85
20
95
28
43
101
105
10
43
33
2
61 Vi
9
17 .
132
28
4
140
'32
45
48
61 .
102V4
36
94
117
63
35
76
38
8 ,
7
24
16
'in"f
55
96
84
57
10
40
5
81
39
32
800
1,600
2,300
49
9
10
48
8
8
68
117
14
74
41
32
50
77
5
52
97
2
67
7
.19
23
87
175
36
86
21
95
28
45
102 '4
105
10
44
33
26
62
9
17
133
28V
6
140
62
37
46
48
61
10
35 H
94
116
63
35
76
38
9
8V4
26
18
78
19
65
96
84
67
10
40
04
31
40
32
149
48
10
fiovernment Bonds.
NEW YORK, March 14. Government
bonds closed :
United States 2s, registered .
United States 2s. coupon
United States 4s, registered.,
United States cv 4s, coupon.
Panama 3s, registered
Panama. 3s. coupon
...,103
103
....105
105
S3
. ... S3
Bid.
Liberty Bond QuotBs.
Liberty bond and vlrtory'note quota
tions at New York as furnished by Over
beck. & Cooke company of Portland:
nn.n Hich. Low. Close.
Liberty 3s 06.82 86.96 96.82 96.90
do 1st 4s Sl-i?
do 1st 4 V'.'.'. 97.50 87.54 97.'46
do 2d 4 Vis ... 97.48 97.50 97.40
do 3d 48 98.62 98.68 98.60
4?h 4V.S .I. 97.74 97.74 97.62
Victory 4s
do 3s ...
97.30
97.46
97.40
98.64
97.64
'.10080 100.84 100.74 100.78
Swift Co. Stocks.
-)... nt swift &. Co. stocks at
Chicago were reported by the Overbeck &
Cooke company of Portland as follows:
Swift & Co 10?
Libby, McNeil & Libby
National Leather .'. -J
do new i"7"
Swift International
Money, Sliver, Kt.
NEW YORK. March 14. Call money
steady; hlEh.4 per cent; ruling rate. 4;
closing bid, 3; offered at 4; last loan, 4,
call loajis, against acceptances, 3.
Time loans firm; ou uj,
cent; 80 days, ia'o; ihuwimo, -.7 !.
Prime mercantile paper, inna-"
Foreign bar silver, 63 c. .
Mexican dollars, 48c.
LONDON, March 14. Bar silver, S3d
per ounce. Money, 3 per cent. uuto"i
rnrea. snort Dina 078
months' bills. 3 5-163 per cent.
New "Vork Bunds.
New York bond quotations furnished by
Herrin & Rhodes, Inc., rortiana:
Foreign Government uonas
Argentine 2d 7s 1923 98
do G 1 os " '
Belgium 8s 14U 1M
Bergen 8s- 1845 109
Berne Ms .-.'
Christiana 8s J4o 1
Copenhagen 0s jg o?t
Danish Consol S-s J22?
French Cities 6s 1834 80
Italy s A 1?23 83
Rus ruble 5s 1926 4
Swedish Govt 6s 1939 100
U S Mex 4s 14 43
do ext 5s 1845 5o
Uruguay Ext 5s 71
Zurich 8s l4o 111
Foreign Government City Bonds
Berlin 4s
Greater Berlin 4s 3
Hamburg 4s 4
Bremen 4s 4
Cologne 4s 4
Dresden 4s 4
do 4s 4
Dusseldorf 4s 4
Frankfort 4s 4
Leipzig 4s 5
do 48 4
Munich 4s 4
Stuttgart 4s 4
Essen 4s 4
Bremen 4s 4
Hamburg 4 s 4
French Internal 4s. 1817 55
do Victory 5s. 1920 66
Belgian Restoration 5s 74
British 2 consols 49
Ital Cons War Loan 5 39
Raliroad bonds
Atch gen 4s 1985 87
A C L 4s 152 86
A C L 7s 1830 106
B O gold 4a 1948 78
B Clcon 4s cv 1933 77
B O tef 5s 1885 79
Can Southern 3s 1962 96
Can Nal eo 7s 1935 111
Can Nor 6s 1946 109
do sf term 4s ...1950
de conv 5s .....1934
St L & a F P L 4s A ...1950
do gen 5s 1931
do 5s B 1950
do gen 6s 1931
do adj 6s .....1955
do inc 6s, I960
St L si S W 1st 5s 1952
do con 4b ......1932
do 1st 4s 19S9
Tex Pac 1st 5s 20O0
Un Pac 1st 4s...... 1947
do cv 4s. .................. .1927
do ref 4s. 2008
do 6s 1928
Un Tank 7s 1930
Wabash 1st 5s 1939
do 2d 5s 1939
West Pac 5s 1946
Allied Packers. 6s ............ 1939
Amn Agr Ch 7s... 1941
Amn Sm 1st 5s 1947
Amn Tob 7s 1923
Anaconda 6s A 1929
do 7s B 1929
Armour cv 7s ................ 1930
Armour 4s . . 1939
Beaver Board 8s 1933
Beth Steel 7s J923
do eq 7s 1935
do ref 5s 1942
Cerro de Pasco 8s ; 1931
Chile conv 6s A ; 1932
Chile conv 7s 193
Col Graph 8s ; 1 1925
Copper .Exp 8s 1923
do 8s ......... . 19-4
do 8s '.1923
Colo F & I gen 5k. "l4?l
Colo Ind 5s .1934
Cuban Amn Sug Ss .1931
Cuban Cane cv 7s 1930
Distillers Sec cv 5s ifl-.7
Diam Match 7s 1935
Dupont 7s ., 19;u
Umpire Gas Fuel 6s 19-4
Fisk 8s 1941
Gen Elec,deb 5s . . 11952
do 6s ....""..1940
Goodrich 7s lovs
Goodyear 8s 1941
.welnz 7s : lean
Hershey 7a ifl3l)
III Steel deb 4s 1940
Ind Steel 5s 195'
Int Agr 5s ...il932
Int Marine C T 5s 1941
Kelly Snefield fi ioi
Kennecott 7s .....1930
Lack Steel 5s 1923
do 1st 5s ................... 1950
Cibby McN L 7s 1931
Lig & Meyers 5s 951
do 7s ...inii
1951
1944
1936
1930
1923
1940
1923
1951
1925
1931
1941
1947
1930
1963
I.nrillnr
do 7s
Midvale os
Morris & Co 7s
Proc & Gamble 7s
Republic I & St 5s ,
Sears Roe 7s
Steel & Tube 7s
Swift & Co. 7s
do 7s "'
Uni Drug 8s
U S Rub 1st ref 5s
do 7s
U S Steel sf 5s .
Va Chem 5s J!I 19"'3
Va Car Chem 78 !I 193
West Elec 5a ... 19
West U T col Tr 5s 193 8
West Union 6s 1936
Wilson 1st 6s , 1941
do cv 6s 19"8
West EJec 7s ................. 1925
Westinghouse 7s .......... .1 1 ' lua'i
Public utilities
Amn Lt & Tran 6s los
Amn Tel coll 4s 1929
do 5s 194G
Amn Tel 6s "'l925
Bell Tel of Pa 7s ...1945
1945
.1937
B 1966
1966
1986
1925
1056
... Ifirtrt
Laclede Gaa 7s . iasn
Mont Power 5s A ;.1943
Northwest Tel 7s . . 1941
Ohio Cities Gas 7s ..1925
Ohio Power 7s .......1951
Pac Tel 5s 1937
Pac Gas 5s 1942
Souwest Tel 7s 1925
Oil bonds
Anglo Amn 7s 19"5
Atlantic Ref 6s 1931
Galena S Oil 7s 1930
Gulf Oil 7s 1933
Humble 7s 1923
Fan Amn 7s ........1930
Mex Pet cv 8s ."" 1936
Sinclair 7s 19'5
SO Cal 7s 1931
SO N Y 7s 1931
Texas Co 7s ..ifl-'a
Tidewater Oil 6s 1931
Vacuum Oil 7s 1936
Curb bonds
Allied Packers Bs "
Am Tel & Tel 6s 1922
do 6s 194
Inter Rapid Train 7s
Stand Oil N Y 68 1933
no 7s m-'fi
Texas Co 7s Notes 101
Boston Mining stocks.
Closing Boston mining stocks: furnished
by Overbeck & Cooke company of Portland:
B R T
Cal Gas uni 5s .
Cities Service 7s
do 7s C
do 7s D
Con Gas cv 7s
Int Met 4 'is
Int R T ref 6s
80
86
69
96
83
102
79
61
77
73
76
92
90
92
85
103
103
05
86
86
69
102
88
102
98
102
103
87
65
101
102
01
112
83
100
46
102
102
104
84
72
105
85
45
108
104
92
104
. 98
104
98
115
100
100
88
08
75
94
106
103
89
84
99
95
115
94
114
87
104
101
92
99
97
101
103
105 Vi
86
104
101
88
95
98
95
107
95
86
106
106
103
88
95
116
108
.38
95
115
88
85
109
18
: 58
97
94
107
100
102
94
88 Vi
102
103
103
102
103
101
97
103
103
106
108
101
102
107
69
100
101
80
106
io.-
Ariz
Can Nor
Cent Pac 1st 4s
Chi N W 6s
Ches & Ohio cv 4s
Ches & Ohio gen 4s
Ches & Ohio cv 5s.
Ches & Ohio con 5s
C B Q. Ill div 4s
C & West Ind 4s ' . .
C G & W 4s .
C M & St P 4s '. .
C M & St P cv 4s
C M & St. P neb 4s
C M & St P gn 43 A
C M & St P cv 5s ,
C M & St P g & r 4s A. I.
Chi N W gen 4s
Chi N- W 6s
Chi N W 7s
C R I & P ret 4s
Colo Sou rf ex 48
Colo Sou 4
Del &. Hudson cv 5s
Del & Hudson 7s
D & R G cv 4s . : .
D At R G ref 3
Erie P L 4s
Erie con 4s A
Erie B
Erie D
Erie Pa C G 4s
Gd Trunk eq 6s ,
Gt Nor 4s
Gt Nor 7s
Gt Trunk 6s
Gt Trunk 7s ..
Ill Cent Jt 5S . .
lit Cent ref 4s
K C Sou ref 5s
Keo & Des M 1st 5s
L S & M S 4s ,
L N is
L & N uni 4s ,
M St P SS M 68
M K & T 4s
M P gen 4a
do ref 5s
NYC dea 4s ,
do con 4s
do ref imp 4s
do cv deb 6s
do coll 7s
N Y H & H cv 6s !
V O Tex & Mex 5s
X P L 4s
.V P 6s
X P Gt Nor Jt 6s 1936
. . .1940
. . .1949
. . .1936
...1930
. ..1993
...1946
. . . 1939
...1949
...1952
. . . 1959
. . .1925
...1932'
. . .1934
. . .1899
. ..2014
. . .2014
...1987
. . .1936
. . . 1930
. . . 1934
. . . 1935
. . .1929
...1935
. . . 1930
. . . 1936
. . .1955
. . . 1996
. . .1953
. . . 1953
. . . 1953
.'. .1851
. . .1936
.. .1961
. . .1936
. . . 1936
. . L1940
...1963
. . .1955
. . . 1950
. . . 1923
...1931
. ..1930
...1940
...1946
. . .1990
. . .1975
. . .1926
. . .1934
. . .1998
. . .2013
. . .1935
. . . 1930
. . .1948
. ..1935
...1997
2047
O S L ref 4s. .
Penna 6s
do gen 4:s.
do Penna 4s.
do gen 5s
do 7s
do R R O'-s..
Reading gen 4s. .
A I, 4s
do Ss
do 6s A
Son Ry con 5s. . .
So Pac cv 4s. .. .
do ref is. . .... .
. .1929
...1936
. . .1965
. . . 1 900
...1968
. ..1930
. . .1936
. . .1997
. . . 15
. . .1949
...1945
...1994
. . .1929
...195S
110
82
106
85
84
86
99
88
71
60
73
64
68
73
64
68
83 Vi
106
lo
79
83
91
91
107
75 Vi
45
57
38
38 Vi
40
81
105
88
108
102
110
93
S4
85
81
92
107
89
101
76
62
95
8B
" 79
85
IOO
107
68
67
85
107
107
88
106
81
95
96
101
106
82
53
18
48
91
88
85
Bingham Mns
Balakalla
Cal & Ariz . . .
Calumet & He
Centennial
Cop Range
Davis-Daly
East Butte . . .
Franklin Mng
Kerr Lake
La Salle
Michigan
Mohawk
May Old Colony. .
Mason Valley ...
North Butte ....
Old Dom Cop
Osceola Mug
Ojibawa
Pond Creek
Iste Royal
South Lake
Sup Boston
Union Sho-3 Mch....
do pfd . .
South Utah
Shattuck . ..
Trinity Cop
Utah Metals ..
Utah Con ....
U S Mining . . .
do pfd
Utah Apex ...
Ventura ......
Victoria
Winona
Bid. Ask.
8 9
. 55 80
62 63
. 25 27
. 2 2
, 13 13
. '. . 6
- 57 58
.279 280
, 17 18
10 12
,43 44
. 7 7
2 3
10 11
. 11 11
.28 29
. 2 3
1 2
40 r.o
101 toi
- 1 1
3 3
. 2 3
1 2
1 2
58 58
4 . 4
1 2
12 12
6 " . 6
20 40
24 25
83 83
1 2
44 44
17 17
22 23
46 47
1 1
39 40
26 26
5 10
2 3
S 9
1 2
03 60
1V4 1
1 2
35 86
43 Vi 44
3 3
22 . 23
1 2
25 40
11 12
40 60
Foreign Bonds.-
Foreign bond quotations furnished bv
Overbeck. & Cooke company of Portland:
Belgian rest 5s
do prem is
do 7s, 1945
do 8s. 1941
do 6s. 1925
Brazil 8s. 1941
Chile 6s, 1932
do 7s. 1923
British 4. 1022
do is. 1922. ........ .
do 5s. 1927
do 5s. 1929
do vky 4s
do ref 4s.
Bordeaux 6h. 19::4
Canadian 3s. 1937
do s. 1926
do 5s. 1929
do Ss. 1931
do 5s. 1927
Chinese 1951
Chilean Ss. 1W41-C
Russian Currency
Denmark 8s, 1945
Man Muni 8. 1943
French 4s. 1917.
do JC21
do 5s. 1931
do 7s. 1941
do 8s. 1945
German W L, 5s
Berlin 4s
Hamburg 4s
do 4s
Leipsig 48
do 5s
Munich 4s
do 5s .
Frankfort 4s
Italian 5s. 1918
Jap 4s, 1931. j.
do 1st 4s. 1925....
do 2d 48, 1925.....
Norway 8s, 104O
Russian 3 Vis,- 1921
do 5s, 1926
do 6s. '1919.
Swiss 5s. 1929
do 8s, 1940
San Paulo 8s. 1921
U K 53. 1922
do 5s. 1929
do 5 "is. 1937.
Swedish 6s, 1939
Bid.- Ask.
t 72 73
...80 85
, ..los los
. .107 I08
...103, 103
..104 104
. . 83 m
. .100 100
..100 100
...89 91
. . 89 91
... SS 90
. . 73 75
..72 74
.. 85 85
.. 97 9S
. . 80 99
. . 99 99
. . 98 98
96 88
. 53 .54
-.104 104
..5 6
..109. 110
. .108 10H
. . 55 56
. 79 Vi - 80
. . 65 V" 67
. .10O IOO
-.104 104
" 2 3
..3 4
3 4
. 3 4
3 4
-.4 5
. . 4 5
4V4 5
3 5
..39 ,40
.. 75 75
.. 89 89
.. 88 88
..110 110
...18 20
..4 5
. . 18 20
..lOOVi 100
...115 115
. .102 103
.-103 104
.. -104V4 104
. . 99 99
,.100 100
Foreign Exchange.
Foreign exchange rates at the close of
business yesterday, furnished by North
western National Bank of Portland. The
amount Quoted is the equivalent of ,hc
foreign unit in united states f aids:
Country. Unit.
Austria, kronen
Belgium, francs
Bulgaria, leva . .
Czecho-Slovakia. kronen
Denmark, kroner
Knitland.. pound sterling
Finland, finmark
France, francs
Germany, marks
Greece, dmchniaa . .......
Hate.
t .OO03
0838
OOStf
01M3
2102
4.3400
0212
OSitO
, . . . . .0040
. .0455
New Issue
$40,000,000
Dutch East Indies
Forty-Year External Sinking Fund 6 Gold Bonds
Authorized by Law of December 30, 1921, Passed by
The Kingdom of the Netherlands Parliament and Approved by the Crown
i -
Not Redeemable During First Ten Years
To Be Dated March 1, 1922
To Mature March 1, 1962
Interest payable March 1 and September 1. Principal and interest payable in United States gold coin of the pres
ent standard of weight and fineness or its equivalent at the main office of Guaranty Trust Company of New York,
without deduction for any taxes, present or future of The Netherlands or the Dutch East Indies. Coupon bonds in
denominations of $500 and $1000, registerable as to principal only. y
Redeemable at the option of the Government on March 1, 1932, and on any interest date thereafter as a whole or
" in part, at par and accrued interest..
, Sinking1 fund to retire entire issue by maturity through annual payments sufficient to redeem each year, commenc
ing 1933, l-30th of the amount of bonds outstanding on March 1, 1932. These funds to be applied to retirement of
bonds through purchase at not exceeding par and accrued interest or through call by lot at par and accrued interest.
Guaranty Trust Company of New York, Fiscal Agent of Loan
The following is summarized from information furnished by cable by Mr. S. De Graaf, the minister of
colonies, Kingdom of the Netherlands. All conversions of florins to dollars have been computed at
the rate of 2y florins per dollar, or 'approximately at par of exchange.
These bonds are to be direct external obligations of
the government of the Dutch East Indies and will
not be redeemable during the first ten years. The
Dutch East Indies is an integral part of the kingdom
of the Netherlands, the executive and much of the
legislative power of the colony being vested in a
governor-general and a council appointed by the
home government. The colony originates budget
and other fiscal matters subject to the control and
approval of the government of the Netherlands.
RESOURCES AND COMMERCE
The islands, which include Java, Sumatra and Ce
lebes, have an estimated population of about 50,
000,000, possess great natural resources ard consti
tute one of the richest of all colonial possessions.
The principal products include tin, coal, petroleum,
and a large variety of agricultural commodities.
These natural resources have enabled the mainte
nance of a substantial excess of exports over imports.
For the six years 1915 to 1920, inclusive, the Dutch
East Indies had a larger favorable balance of trade
than any country in the world, excepting the United
States. Trade with the United Stales has developed
remarkably, total exports and imports having in
creased from $9,370,000 for the fiscal year ending
June 30, 1913, to $202,840,000 for the fiscal year
ending June 30, 1921.
CURRENCY AND EXCHANGE
The unit of currency is the guilder, or florin, with
parity of 40.2 cents. Its present quotation of ap
proximately 37.6 cents represents a discount of less
than 7 per cent, reflecting its position as one of the
soundest currencies in the world.
i REVENUES
Total revenues for the year 1921' (partly estimated),
including the gross income from government-owned
monopolies and industries, amounted to $267,000,000.
For the period of 116 years, from the establishment
of the colonial government in 1798 to the outbreak
of the war in 1914, the aggregate ordinary revenues
exceeded expenditures (ordinary and capital com
bined). From 1906 to 1913 the ordinary budget, ex
clusive of capital expenditures and receipts from
loans, reflected in each year a favorable balance,
the surplus for the period aggregating about $34,
000,000. In the more recent budgets, due prin
cipally to capital and other extraordinary expendi
tures," there have been substantial deficits. The
floating debt amounts to $222,000,000 without mak
ing any allowance for reduction by the application of
the proceeds of this loan and of the. $40,000,000 25
year bonds recently issued, or by $40,000,000 taxes
levied but not yet collected.
GOVERNMENT-OWNED PROPERTY AND DEBT
Total funded debt, exclusive of this loan and the
bonds recently issued, approximates $212,000,000.
The government controls great natural resources of
value difficult to estimate and owns revenue pro
ducing properties, including over 2500 miles of tram
ways and railroads, telephone and telegraph sys
tems and mines, which have an estimated value of
not less than $275,000,000.
For the five years, 1917-1921, net income from government-owned
properties and monopolies, partly
estimated for the last year, averaged $46,000,000 an
nually. This amount, which is less than 20 per cent
of the total revenues for 1921, is more than 1 3-4
times all interest and amortization charges as appear
in the 1922 budget.
Price 94 and Interest
To Yield About .6.73 to Earliest Redemption Date, March 1, 1932
, To Yield About 6.35, if Held to Maturity
When, as and if issued and received by us and' subject to approval of counsel. It is expected that interim receipts will be ready for delivery
on or about March 30, 1922.
Guaranty Company of New York
Harris Trust & Savings Bank Lee, Higginson & Co.
Bankers' Trust Company, New York Kidder, Peabody & Co.
The Union Trust Company of Pittsburgh
BIyth, Witter & Co. - Anglo-California Trust Co.
We do not guarantee the statements and figures presented herein, but they are taken from sources which we believe to be reliable.
Holland. Builders
Hunrary, kronen
Italy, lire
Juo-SIavift. krooefl
Norway, kroner ...............
PortueaL escudos
Roumania. lei
Serbia, dinara
Spain, pesetas -
Sweden., kroner ,. .
Switzerland, franca '
Chin-a-H-cmfrkonir. local currency
Shanghai. taeJs
Japan, yen
.3747
.OO-'O
' .oroc
.0040
.1740
.0X77
.01IS5
.0137
.1 .-.-.
.'.Mflfl
.1!40
.6-J73
.7.100
.4S00
S O Nebraska
Imperial Oil . .
.170
.101
175
103
Ex-div.
NEW YORK, March 14. Foreign ex
change irrenuiar. Great BTltain, demand
J4.3014; cables M.30 : 60-day bill on
banks, M.27. Francs, demand, 8.83M,c.
cables 8.Sc. Italy, demand 5.01c. cables
5iu,c Belgium, demand 8.224c; cables
S.'J3c. Germany, demand .36c;
.i:7A HrtHand, demand 37.43c:
i-. ise Norway, demand 17.40c. Sweden,
demand 23.73c. Denmark, demand 20.90c.
c,,-i,rinrl. demand 1K.JJC. ftpain, ue
mand 15.43c. Greece, demand 4.50c.
demand .02V4C Czecho-Slovakia,
1 72c. Argentine, 'demand 35.23c.
demand 13.75c. Montreal 86c
Standard Oil Stocks.
Standard Oil quotations furnished by
Overbeck & Cooke company of Portland:
cables
cables
Poland,
dema-nd
Brazil,
Anglo
Borne Scrysmer
Buckeye
Chesebrough
do pfd
Continental
Crescent
Cumberland
Eureka
Galena com
do Old pfd
rl n 'an ofd ........
Illinois Pipe ...175
Indiana Pipe o
Nat l Transit . 27
N T Transit .169
Northern Pipe 104
Ohio Oil .-269
Prairie Oil 640
Inter"! Pete i
17
360
0
190
111
128
36
140
05
44
110
102
Prairie Pipe . . .
Salor RefK
Southern Pipe ..
South Penn Oil.
S W Penn Oil . .
S O Ind
do Kansas . . .
do Kentucky .
do N Y
do Ohio
do pfd
Swan & Finch . .
Vacuum ........
Washington
...229
355
93
180
57
87
520
485
. . . .375
,.380
....115
. . . . 30
....338
.... 28
17
380
92
. 195
314
131
34
150
97
46
114
105
178
97
28
173
107
272
550
14
232
310
95
185
60
87
540
490
380
390
116
35
342
22
Naval Stores.
SAVANNAH, March 14. Turpentine,
dull, 80c; sales none, receipts 50, ship
ments 133, stock 3001.
Rosin firm; sales 270. receipts 714, ship
ments 566, stock 64,136.- Quote: B. D,
E. F, G, H, I, J3.95; M, J4.90; M, J3.25;
WG, J5.75; WW, $6.
Sugar Market '
YORK, March '34. Raw sugar.
FOLLOW
the example of hun
dreds of thrifty peo
ple who deposit regu
larly with Ashley &
Rumelin Bankers and
you follow the arrow
for success.
Your account is invited.
HOURS-8 AM TO 530PM
SATURDAYS-8AJMTO8PM.
centrifugal, 3.86c; refined,
5.30c.
fine granulated.
SAN FRANCISCO, March 14. California
Hawaiian sugar, 3.92c.
State Official Resigns.
SALEM. Or.. March 14. (Special.)
W. B. Plimpton, secretary of the state
priTvtiner board slrice 1913, today re
signed and will leave later in the
week for Seattle, where Ke will be
connected with a laree printing con-
"1
Is Your Bond
Marketable?
Can yon re-nlixe on It in cane
of unforeseen e m e r r eney f
That in nn Important quextton
for you to consider before buy
in . In our "Choicest L.i"
you frill find Bonds of real
Marketability, Security and
xield. N
Call, write or phone
Main 4195 '
ftlli. r". VI I LLtK.
& COMPANY
Seattle
Portland
9in KOPTHWESTERN
BANKBLDG. PORTLAND
2d Floor, N. W. Bank
Building, Portland
HERRIN & RHODES, Inc.
Established 3 806.
STOCKS, BONDS,
COTTON, GRAIN ,
Correspondents E. F. HUTTON & CO.. N. T.
Members all leading exchanges.
Babson's Service on File.
Bdwy. 47S5. 201 Railway Exchanga Bids.
cern of that city. Prior to being I printing department for two yoam.
elected secretary of the state print- j H. S. Kosshard, state printer, v. as
injr board, Mr. Plimpton was em- elected by the l-rlntins board to biic
ployed as office martnerer 04 the Htatecied Mr. Plimpton.
Baby
bonds
offer the safest sort of investment for the small
investor. There's quite a list of them, including;
the two kinds of bonds that are as safe as our
nation and our cities, bonds of our government
'and our cities.
The small investor formerly could not buy the bonds of gov
ernments, cities and great American corporations with their
interest return of 5 to 7 and more. But notv he con buy
them because they are issued in small denominatiom $50,
$100 and $500.
We own and sell municipal, government and corporation bonds
that are not only safe investments and in small denominations,
but can be bought pn the Partial Payment Plan by the man
reho saves as little as $10 per month. We Tvill gladly explain
any item of which you are in doubt.
Sign your name here and mail today for
complete information:
Do it now
Ask for
details
of our
P. P. P.
Freeman, Smith & Camp Co.,
Lumbermens Bid?., Portland.
Please tend me details of your Partial
Payment Plan. .
Name
Address
I