THE arORNING OREGOMAX, WEPXESDAT, JANUARY 24, 1917.
19
STOCK MARKET-SAGS
Smallest Full Day's Business
Since Last Summer.
BETHLEHEM CHANGES WIDE
Dividend Announcement in Line
Yith General Expectations Rus
sian and Italian Exchange
at New low Records.
JTSW TOBK,
was the only
sessions, sales
shared, the smallest of any
last Aufrust. Of this total
per cent
irt
Jan. 23. Excessive dullness
striking feature of today's
barely amounting to 400.000
full day since
more tnan 40
represented the operations of the
hour, the market thereafter ariltins
Idly, with general heaviness at the end.
Bethlehem Steel meanwhile fluctuated be
tween 450 and 430. closing at the latter
quotation with a net loss of a point, whil.
the preferred Rained 0 points. On the curb
the new Bethlehem stock opened on the
usual "when Issued" basis at 140 bid. 200
asked, but sold down to 133 later.
The decision of the Bethlehem directors
to declare the Increased rata of dividend
and the 200 per cent stock bonus was in
line with general expectations, although
the non-voting clause attaching to the new
stock caused some surprise.
Changes In other quarters of the list were
so Irregular In the main as to have no real
significance. .
Kussian and Italian exchange established
new low records, with indications of liqui
dation in Urea, which fell to 7.13, while
rubles yielded to 28.35.
Bonds were Irregular, with total sales.
par value, 4,OuO,lu.
United States bonds were
call.
CLOSING STOCK QUOTATIONS.
Closing
Sales.
8,000
1.S00
1.U00
l.ioo
closing net 2 points higher to 1 point lower.
Sales, 21,000 bags. January. 8.3Uc; Feb
ruary. 8.42c; March. 8.46c; April. 8.50c;
May, 8.55c; June. 8.58c; July. 8.62e: Au
gust. 8.66c; September. 8.T0c; October, 8.76c;
November. 8.60c. December, 8.85c
Spot quiet. Rio 7s. 10c; Santos 4s. 10c
The cost and freight market was unchanged.
The official cables reported no change In
the Brazilian markets except Santos futures,
which were unchanged to 25 reis lower. Rio
reported a clearance of 5000 bags by a sail
ing ship for Kew Orleans.
Metal Market.
TTEW YORK. Jan. 23. Copper firm.
Electrolytic, first, second and third quar
ter. 28. 50 & 32. 50c.
Iron steady and unchanged.
Metal exchange quotes tin firm. Spot,
45.50c.
At London, spot eopper. 130 5s; futures.
126 10s; electrolytic. 141. Spot tin, 181
2s 6d; futures. 192 2s 6d. ,
T Metal Exchange quotes lead T.TSo
bid.
Spelter steady. Spot, East St. Louis de
livery. 810c.
At London, lead, 30; spelter. 52.
Naval Stores.
SATANUAH. Jan. 28. Turpentine, steady.
B262!ic: sales. 20 barrels; receipts. 69
barrels; shipments. 210 barrels; stock. 18,544
barrels.
Rosin, firm: sales. 1875 barrels; receipts.
1453 barrels: shipments. 22T1 barrels; stock.
77.649 barrel.. Quote: A. B. C. D. fci. . I.
6.15; HJ6.20; I. 16.26: K. $6.85; M. S8.45;
N. 86.80; WO. -86.85: WW. $T.15.
Hops, Etc at New York.
NEW YORK, Jan. 23. Bops, quiet.
Hides, quiet.
Leather, firm.
HOGS ADVANCE 10 GENTS
BUYERS
unchanged on
An Beet Sugar.
American Can..
Am Car & FJy.
Am Locomotive.
Am Sm &
Am Tel & Tel..
Am Z L & S
Anaconda Cop .
Atchison ......
Baldwin Loco..
Bait & Ohio ...
Br Rap Tran .. .
3 & & Copper..
Cal Petroleum..
Canadian Pacific
Central Leather
dies & Ohio....
C M & St Paul.
Chi & N W
C R I & P Ry.
Colo Kl St Iron.
Corn Prod Ref.
Crucible Steel
Diet Securities..
Krle
Jen Electric ...
Or Northern pfd
Or Nor Ore ctf. ...
Illinois Central.,..
Kefg. 10.10O
l.boo
1.300
0.800
1,400
8.500
1.500
"50O
7.700
6.000
COO
' "boo
1.100
8,."no
8,000
High.
44
47 M
es
78
108 H
126 V4
3S4-
82
105,
S6
82
'in'"
29H
'89V4
0
'82'
47
644
Low.
63 Vi
4-5
67V
73
100
126
37 H
82 4
104
64'A
81 V
'is' .
27 Vi
88
"S9
"ii" -
46
23
63
800 117 116
Int Cons Cprp
Inspiration Cop.
Int Harv X J. .
Int M M pfd ctfs
Kan City So....
Kenn Copper ..
Louis & Nash
Mexican Pet . . .
Miami Copper..
Missouri Pao
Mont Power ...
Kational Lead
Nevada Copper.
IT Y Central
N T N H H..
Norfolk West
No Pacific
Pacific Mall ...
Pennsylvania ..
Ray Con ' Cop.. .
Reading
Itep Ir A Steel,
fihat Arts Cop.
Southern Pac ..
Southern Ry ..
Studebaker Co..
Texas Company
TTnlon Pacific...
IT s Ind Alcohol
tl S Steel
do preferred..
Ttwh Copper . . .
Wabash pfd B.
Western Union.,
West Electrlo
4,500
1.700
16
57
15
57
4,200 45 44 T4
8,600
1.200
103
41
200 104
1,000
1.90O
6.900
800
5,100
24
101
47
25
5T
102
41
103""
"24
101 "4
44
24
56
2.9O0 101 100
2.200 70 78
300 20 26
600 97 97
, 1.400 31 31
1.500 IO8 107
1,300 230 228
300 144 144
6,200 120 124
81.000 11S 112
1,000 120 120V4'
6.SOO 107 105
1.200 2I 20
200 98 97
1 400 52 52
Total sales for the day. 400,000 shares.
BONDS.
tt R ref 2s reg. .09 N. Pe. 8s PS
do. coupons. .90 I Pac Tel & Te. 5sloi
TT S 3s res. ...101 Penn Con. 4 ..107
do. coupon. . .lol S. Pac. ref. 4s
TJ S 4s res 110 Un. Pac 4s ...
do. coupon ..lloITn. Pac. cv. 4s
Atch gen. 4s.. !0U S Steel 5s.
kt v r Hh. rt. 112H1 S Pac. cv. 55s
N. Pac. 4s 9o Anglo French 5s
Bid.
93
46
67
76
107
126
37
82
105
64
81
77
4S
28
162
88
63
89
123
S2
46
23
63
SS
82
3 6
116
85
105
15
57
120
88
24
45
130
102
41
14
102
60
24
101
44 vi
135
108
23
66
20
100
2
97
30
108
227
144
124
11
120
105
20
87
62
Supply Reaching; Local Market la Far
Below Requirements Other
Lines Firm.
The ho market was lifted another dims
yesterday, with a very light run at tne
North Portland yards. One full load brought
10.95 and other sales were maae at iiu.oj
nd $10.90. The demand for hogs has far
utstripped the supply of late and sellers
are getting the prices tney asa.
the cattle division was ratner lignt ana
the tone of the market there was firm. The
only sale In the sheephouse was a small
bunch of lambs at Sll.
Receipts were 2i cattle. T calves. 40 nogs
and 17 sheep. Shippers were: With hogs
G. W. Of field, of Midland; ueorge F. Brown,
f Corvallls, and B. J. farieuo. oi eissou.
Cal., 1 car each. With mixed loads W. A.
L.eeper. xoncaua. x car came, wum
hogs; a. W. Eyre. Salem. 1 car cattle,
calves, hogs and sheep; James Jensen, Lost-
Ine, 1 car ca-ttie. calves ana nogs.
The day's sales were as follows:
94
99
94
. .106
. .104
U3
Bid.
Boston Minlnjr iStccks.
"BOSTON. Jan. 23. Closing quotations:
Dom. 3
13 Osceola 86
;r5 Quincy 89
22 ' annon ....... 9
65 Superior 15
14 Sup & Bos. Min, 6
8 Tamarack....... 54
S3IUtah Cons 18
14 Winona ........ 4
84 Wolverine ...... 47
214
LOWER PRICES RULE
Peace Talk Depresses Wheat
at Chicago.
MARKET AT CLOSE HEAVY
PAY 910&3
YARDS.
AT STOCK-
President's i Speech Believed likely
to Open Door A grain to Negotla.
tlons No Foreign Demand for
Grain Except From Holland.
CHICAGO. JsM. S3. Peace talk and
lack of any foreign demand, axcept from
Holland, led to lower prices for wheat to
day. The market closed heavy, o to 2e
net lower, with May at $1.84 te 11.84
and July at $1.52. Corn finished un
changed to a shade lower, oats off c to
He and provisions with gains of 22c to 62c.
Bearish sentiment regarding wheat began
to spread almost as soon as business opened.
Much notice was taken of assertions that
President Wilson's speech apparently opened
the door anew to peace negotiations. At
the same time, a decided absence of for
eign buying was evident.
Corn was relatively firm, owing to re
ports that 75 per cent of the Argentina
crop had received Irreparable damage.
Oats reflected the downturns In wheat.
Sales of 500,000 bushels of oats for Europe
acted as only an offset In part.
Highest quotations of the season In the
hog market lifted provisions. Arrivals of
hogs here showed aiv unexpected falling off
In number.
Leading futures ranged as follows:
WHEAT.
High.
1.S7
1.54
CORN.
1.02
1.00 .
OATS.
.58 .58
.06 .05
Mar
July
May
July
5 calves..
8 cows. ..
3 cows. ..
8 cows. ..
1 cow. ...
1 cow. ...
2 cows. ..
2 steers. ,
1 cow. ...
1 steer. ..
1 bull. ...
1 heifer..
2 cows. .,
1 cow. .
1 cow.
6 hogs. ..
11 hogs. ..
1 hog. .
116 hogs. ..
1 hog. ...
121hogs. ..
107 nogs. .,
3 hogs. ..
1 hog. .
1 hog. .
4 hogs.
1 hog. . .
5 hogs. ..
82 hogs. ..
16 hogs. .,
3 hogs. .
Cattle
Steers, prims
Steers,
Steers,
Wt. Prlce.l
190 $8,001
9H3 8.751
900
920
970
990
605
790
770
90
880
5D0
11125
930
1130
4.501
5.50i
5.SU
5.501
4.00
2 hogs. .
1 hog. ..
88 hogs. .
1 hog. ..
1 hog . . .
44 hogs.
4 hogs. .
l'hos. ..
74 hogs. .
7.50 10 hogs.
3.:
4.0o
5.501
6.00
202 lO.Si
200 10.851
320 10.851
136 10.50I
160 9.501
82 9.50)
211 10.95
370 995,
430 9.85
330 10.50
122 U.001
420 9.851
1SI2 10.8.r!
179 10 851
140 9.50
317 .o5
fair to good
medium
2 liosjs.
t nog ... ..
1 heg
1 cow.
8 cows. ..
1 cow. ...
1 cow. ...
1 cow. . . .
1 cow. .. .
1 cow.
4 cows. . ..
3 cows. ...
1 bull. .. .
1 bull....
1 bull. . . .
2 heifers.,
1 heifer..,
1 calf.
2 steers. .
13 lambs.
Wt. Price.
165 9.50
150 9.50
179 10.85
430 8.95
1 9.50
2JTJ 10.90
467 9.90
1 50 9.-50
191 10.85
141 9.50
325 9.85
390 10.90
130 9.50
970
983
1200
8 0
830
1070
690
895
sso
1630
1300
1540
500
800
170
930
4.50
4.50
6.35
6.35
3.50
4.50
5.75
6.00
5.50
5.50
5.50
5.50
4.50
3.00
9.00
7.25
73 11.00
Price.
....$8.00 8.50
.... 7.00 43) 8.00
B.SO'Sp o.
Open.
..1.87
.. 1.53
... J. 01
... .99
Low.
$1.84
1.52
1.01
.98 "4
May ' BS
July ...... .55
Close.
$1.84
1.52
1.01
.99
.58
.60
MESS PORK.
May 29 30
July
May
July
29.02
..16.82
..10.50
29.80
29.02
16.82
16.50
29.83
29.40
18.53
16.70
13 ST
15.67
29.87
29.40
LARD,
16.62
16.73
SHORT RIBS.
Jan. 15.37 16.85
May 15.55 15. lO 15.52
Cash prices were: -
Wheat No-. 2 red. $1.93 1.93 ; No. 8
red, $1.89 wl.90 ; No. 2 hard, nominal;
No. 3 hard. $1.9001.91.
Corn No. 2 yellow. $1.0101.01; No. 4
yellow. U6c$1.00; No. 4 white. 87 V
99 c
Oats No 8 white, 6758o; standard.,
58IU59C
Rye No. 2, nominal; No. 8, $1.43. .
Barley 11.28.
Timothy $3 5.50.
Clover $12 i7.50.
Primary receipts -Wheat. K69.000 TL
1.358.000 bushtls; coin, 1.281. OCX- vs. 1.499,
000 bushels; oats, 646,000 vs. 956, OU0 bush
els. Shipments Wneat, " 630.000 vs. 809.000
bushels'; corn, 412,000 vs. 548,000 bushels;
oats, 427,000 vs. 957,000 bushels.
Clearances Wheat, 323, ooo bushels; corn,
77.000 bushels; oats, 154,000 bushels; flour,
ia,U00 barrels.
Cows, choice .
Cows, medium to good 6.50 7.00
Cows, ordinary to fair 5.75f) 6.25
Heifers 4.00 7.50
Bulls 8.7.1 it 6.00
Calves 3.00 9.00
Hogs
Heavy packing, 215-250 pounds. .lO.SOfB 10.95
Light packing, nu-iyu pounua. . .iu.pu w in.o.
Rougn neavies ................ w.o,, .w
Plas and skips .' 9.33 610.00
Stock hogs 8.0o 9.00
Sheep
Lambs ...10 73W12.UO
yearling wethers O.OOSj-10.00
rd wethers ................... 8.75 feb 9.75
Ewes -. 6.75 8.5o
Eastern Wheat Futures.
DULUTH. Jan. 23. Wheat closed: May.
J..&B. juiy, 1.BU.
WINNIPEG, Jan. 23. Wheat closed: May,
$LS3; July, $Lb0; October, $1.39.
KANSAS CITY, Jan. 23. Wheat closed:
May. $1.81; July, $1.48; September,
ST. LOUIS,
$1.85; July,
Jan. 23. Wheat closed: May,
$1.49; September, $L34.
Arts Com
Cal & "ecla...
Centennial
cop R Con Co.
K Butte Cop M
Franklin
Isle Roy. Cop..
Lake Cop
Mohawk ......
M. Biflte
Money, Exchange. Etc.
NEW YORK, Jan. 23. Mercantile paper,
ftlx vtMt rant.
Kt.riinir. 80-dav bills. 4.T5: commercial
RO-dav bills on banks. $4.72: commercial
60-day bills. $4.71; demand. $4.75
-hla. S.V76 7-16. Francs, demand. $5.84
cables. $5.83. Marks, demand. 67; cables.
71. Kronen, demand. 10.65; cables, 10.70.
Guilders, demand. 40 13-18: cables. 40.
Llres. demand. 7.10; cables. 7.09. Rubles, ae
xuand, 28.60; cables. 28.05.
Bar silver. 76 c
Mexican dollars. 89c.
Government bonds, steady; railroad bonds,
Irregular.
- Time loans, steady: 66 days. 2 per cent:
t0 days. 2 per cent; six months. 83
per cent.
Call money, steady; high, 2 per cent; low,
5 per cent: ruling rate, 1 per cent; last
loan. 2 per cent; closing bjd. 1 per cent;
offered at 2 per cent.
SAN FRANCISCO. Jan. 23. Sterling.
14.71: demand. $4.75; cables, $4.76.
Mexican dollars. 58.35.
Jan. 23. Bar silver, ST 2-16d
LONDON.
per ounce. r
Money. 3 per cent.
IMscount rates Short bills. Bfl514
cent; three months. 5vtj'5 per cent.
Jer
Stocks Fall af London.
LONDON. Jan. 23. American securities
declined In sympathy with New York, on the
block. Exchange here today.
6A3i FRANCISCO PKODCCB MARKET
Ve-
Omaha Livestock Market.
OMAHA. Jan. 23. Hogs Receipts, 15.000.
higher. Heavy. $10.85 1 1.15 ; light, $10.60
11; Pigs, $9010.50; bulk of sales, J10.704P
11.
Cattle Receipts, 6200, steady. Native
steers. $S11: c-ws and helfera, $6.508.50;
Western iteers, $0.759.60; Texas steers,
$6508; stockera and feeders. $6.259.50.
Sheep Receipts. 4500. higher. Yearlings.
$10,85012 35; wethers. $9.5010.25; lambs.
$13.15 14.35. -
Chicago Livestock Market.
CHICAGO, Jan. 2.1. Hogs Receipts, 84.
000; estimated tomorrow. 67,000. strong. 10
to 15c above yesterday's average. Bulk.
$10.9."Jf!ll 20; light. $10 605 11.15; mixed,
$10.75i&11. 30; " heavy. $10. 80(6 11.35; rough
$10.80 10.95; pigs, $8.5010.35.
Ca:tle Receipts, 8000; estimated tomor
row. 22,000. steady. Native beef cattle, $7.70
fiill.85: Western steers, $7.7010; stockers
and feeders, $5.75 Si 8.00: cows and heifera
$4.75?10.15: calves, - $10.25614.50.
Sheep Receipts, 13.000, strong. Wethers,
$9.75U; lambs. $11.75 614.40.
Grain at San Francisco.
PAN FRANCISCO, Jan. 23. Spot quo
tations: Walla, $2.72 2. 75: Red Russian,
2.72 f 2.75: Turkey red, $2.V5S; blue-
tem. $33.05: leed Barley. S2.222.25:
white oats, 2 4f 2.205; bran, $2S&2S.50; mid
dlings, $3738: shorts, $303tf
uall ooara jsariey, .,i a y , a i ; Decem
ber, $1.60 bid. $1.65 asked. Sales, 200 tons
may. ,
Chicago Dairy Produce.
CHICAGO, Jan. 23. Butter, unchanged.
Eeni. easy. Receipts 2684 cases. Firsts,
3S39c; ordinary firsts. Ju3tc; at mark.
cases Included, 3oo8c.
Potatoes, receipts 42 cars. . unchanged.
New York Sugar Market.
NEW YORK, Jan. 23. Raw sugar barely
steady. Centrifugal, 5.20c: molasses. 4.33'
Refined steady. Fine granulated, e.toc
Dried Fruit at New Tork.
NEW YORK. Jan. 23. Evaporated apples,
dull: prunes, barely steady; apricots, and
peaches, quiet, but steady; raisins. . inactive.
I) ill u til Linseed Market.
DTTLUTH. Jan. 23. Linseed on track,
$2.90; choice. $2.92: arrive. $2.90; May,
$2.93 bid; July. $2.94 asked.
Cotton Market.
NEW TORK. Jan. 23. Spot cotton quiet.
Middling uplands, 17.05c. No sales.
" Mineapoiis Grain Market.
MINNEAPOLIS, Jan. 23. Wheat May,
$1.86; July. $1.94 1.06 ; No. 1 North
ern. $1.87 tiLU0; No. s Northern, $Lo3
l.o.'
Flax, $2.88 2.98.
Barley, MUcu$L3.
Fnget Sound Grain Market.
SEATTLE. Jan. 23. Wheat Bluestem.
$1.6o; Turaey red. $1.66; fortyfold. $1.65;
cluu. f 1.62; life. $1.62; red Kussian. $1.60.
Barley, $39 per ton-
Yesterday's car receipts: Wheat 24. oats I
barley 3, rye 1, hay 32, Hour 6.
TACOMA. Jan. 23. Wheat Bluestem.
$1.USULUU; fortyfold. club and red file,
l.oo, red Kussian, l.U-:.
Car receipts: Wheat 18. hay 1
Prlccs Current on Bntter, Eggs. Fruits,
etables. Etc.. at Uay Cltj-.
SAN FRANCISCO. Jan. 23. Butter
Fresh extras. 37c; prime firsts, 36c; fresh
lirsts, 35 c
Ties Fresh extras. S3c; pullet. S'.
Cneese New, -18c; Young Americas, 81 c.
Poultry- Hens. 21(&22c; old roosters, 12
813c; frvers. 24tir2dc; broilers. 2730o;
laree, 25(t27c; squabs, $2. 252.50; pigeons,
S1.25(i1.75: ducks. 16lSc; geese. 1820c;
turiceys, live. 23 (a 25c
Vegetables string beans, Florida. 20
25c; lettuce, southern, $1.50&.l.a5: fancy,
$2i2.25; peas. Southern fancy, large. 10
llc; small, 68c; cream squash, $1150;
tomatoes. Southern. $1.25; eggplant. Florida,
20ff25c; green peppers. 6jJloc; garlic.
2&4c, sweet potatoes, cellar stock, $2.75;
celery. $3.50(94, rnuoaro. st.zotri.7s: mar
rowfat and hubbard squash. $1.2o1.5o.
Potatoes Rivers. $2.402.65.
Onions Carloads. $6.
Fruit Pears. Winter Nellls, $22.T5
lemons, $363.25; grapefruit, S2.25&2.50
oranges, navels. 32.40&2.65; bananas, $1.25
(ill. 50; pineapples, i- 'tr 2.50; apples. Kew
town Pippins, $1.10 4a 1.25; Beilefleur. 60
a? 75c.
Feedstuff Cracked corn and feed corn
ratal, uncertain; rolled barley, $45 47
meal, altalfa. $21. carload lots; less, $2:
Receipts Flour. 21.20S quarters; barley.
4535 centals; beans, 42ST sacks: potatoes.
2860 6arks; onions. 420 sacks; hay, 203 tons
Hides. 300; wine, 30.400 gallons.
Coffee Futures Irregular.
NEW YORK. Jan. 28. The market for
eoffee futures was quiet again today and
fluctuations were irregular. Ths openln;
was unchanged to 3 points higher, and the
more active deliveries sold about 3 to 6
points above last night's closing figure early
In the day. as a result of covering and a
little trade buying. July contracts declined
from 8.66c to 8.62c, with, the general list
$250,000,000
United .Kingdom of Great Britain and Ireland
ONE-YEAR AND TWO-YEAR SViTo SECURED LOAN CONVERTIBLE COLD NOTES
Dated February 1, 1917 Interest Payable February 1 and August .1
V $100,000,000 One-Year Notes Due February 1, 1918
$150,000,000 Two-Year Note Due February 1, 1919
Principal and Interest Payable at the Office of J. P. Motgan & Co.
Convertitle upon notice, atthe option of the holder, at any tirnc before maturity, or (if called for earlier redemption) at any brne
until and including the date of uch redemption into twenty-year 5 bonds of the' United Kingdom of Great Britain and Ireland,
payable February I, 1937, and not subject to prior redemption-
Principal nd interest of the notes, and of the bonds into which they may be converted, is to be payable, without deduction for
British taxes, present or future, in. New York in United States gold coin, or.at the option of the holder, in London in Sterling at
the fixed rate of $4.86J to the pound.
COQUILLE ENTERS PROTEST
"ew Train Schedule Declared to
Delay Mail 14 Hours.
MARSHFIELD. Or.. Jan. 23. (Soe
cial.) The new Southern Facitic train
service in the Coquille Valley has
aroused opposition in the district south
of Marshneld. The chanse requires the
Coos Bay Limited, formerly running
between Myrtle Point and Portland, to
stop at Marshneld instead of Myrtle
Point at night and this arranremen
sets back, the delivery of outside and
Eastern mall in valley points 14 hours.
The Coquille Chamber of Commerce
asserts that service under the new
schedule is not as prompt as it was
when the mails came over the Coast
Range Mountains from Roseburg by
stage.
Club to. Have Legislative Body.
CEMTRALIA. Wash., Jan. 23. (Spe
cial.) At. the noon luncheon of the
Commercial Club yesterday President
W. B. Keir was instructed to appoint a
legislative committee, the duties of
which will be to pass on the merit of
all bills introduced in the State Legis
lature. The committee arisea from a
request of the Wenatchee ommercial
Club that the local organization indorse
a measure making: all school districts
that have a population of 6000 first.
class.
Coupon notes in denominations of $1000. $5000 and $1 6.000
Redeemable at the option of the Covernment, !n vhole or in part, on thirty (30) datf notice es follows:
, One-Year Notes Trvo-Year Notes t
From February 1, 1917, to January 31, 1918 .... .' .101 and interest 102 and interest
From February 1, 1918, to January 31, 1919, 101 txnf interest
The notes are to be secured by pledge vith Bankers Trust Company. New York; under a pledge agreement executed b$ the Govern
ment, of securities approved by J. P. Morgan & Co., of an aggregate value of not less than $300,000,000. calculated on the basis of
the then prevailing markets. Sterling securities being valued in dollars at the prevailing rate of exchange, viz:
Croup I. Slocks, bonds and of other securities of American municipalities and corporations,
and of the Canadian Pacific Railway Company, and bonds' and or other obligations
' (either as maker or guarantor') of the Government of the Dominion of Canada, the Colony
of Newfoundland and or Provinces of the Dominion of Canada, and or approved s
- Canadian municipalities'. Aggregate value not less than $150,000,000
T (Of the foregoing there will be somewhat over $100,000,000 in value in the securities of
1 municipalities and corporations of the United Slates and of the Canadian Pacific Railway (
Company.')
Croup II. Bonds and or other obligations (either as maker or guarantor) of any or all of
the several foltbwing Governments, to witi Argentina, Chile, Cuba, Commonwealth of
Australia, Egypt, Japan, New Zealand and Union of South Africa, and or bonds
and or other obligations of approved railways in Argentina and or of the Grand Trunk
Railway Company of Canada, and or approximately $25,000,000 value in bonds
and or other obligations of dividend-paying tsriush railway companies', aggregate vaiuc
not less than , ,
7ofa!
.. $150.000.000
$300,000,000
Pending the arrival and deposit of definite securities as above, the Government is to deposit temporarily with the trust company
either approved New York Stock Exchange collateral or cash.
If the pledged securities depreciate in value, the Government is to deposit additional securities to maintain the 20 margin.
The Government is to reserve the right from time to time- to sell for cash any of the pledged securities, the proceeds of sale to" bo
applied to the retirement of notes by purchase or by redemption by lot.
Upon the retirement of the one-ear notes or upon reduction of 'the amount of notes outstanding, through conversion. proportionate
amount of the collateral may be "withdrawn approximately ratably from each class.
The Government also from time to time may make substitutions of securities, but such substitutions are not to vary the then relative
amounts in value of the groups. All substitutions, withdrawals and valuations of securities are to be approved by J. P. Morgan & Co.
This offering is made subject to the approval by our Counsel of ne cessary formalities.
DAILY CITY STATISTICS
Births.
ALEXCRA To Mr. and Mrs. Jo A lexer. ;
izu Kusseu st. re el, January 16, a son.
VON HElfiifiiK.VFLLiH. To Mr. and Mrs.
Woerner vun Heisseruluh, Columbia boule
vard, January 14, a uaughler.
O'CO-N-N-fc-R To Mr. ana Mrs. J. J. O'Coq.
ner. 4& iast AnKtny street. January 14. a
daughter.
KuTU To Mr. and Mrs. William Roth.
Columtjia boulevard, January 14, a oaugftter.
BaK'1'O-To Mr. and Mn. Henry Jdarto.
it nearney itreet, January a, a son.
DOiNAHt'N To Mr. and Mrs. John T.
Donaheo. zoo tiotut street. January 14,
son.
PFENNING TO Mr. and Mrs. John
Pfenning. 4UT Aimer avenuo, January id.
son.
MICHEL8 To Mr and Mrs. Nicholas
Micnels, ores; on city, January io, a daugh
ter.
HELDOBLER-TO Mr. and Mrs. Otto
Heldobler, 114-4 &ast Twenty-second street
isortn. j anuary io. a oaugaior.
KKfc.lQ.ti.tK io Mr. and Mrs. John
Kreigoer. 754 East Fourteenth street North,
January io, a uaugnier.
DLKAXU To Mr. and Mrs. Harry T. i
Durand, &u3 Clackamas street, January 16,
aaugnter.
RiCriWOLD Ts Mr. and Mrs. Frederlok
w. Kicnwoiu, taa r uin street, January 16,
daughter.
KOWLES to Mr. ana Mrs. Howard
Kowles. iuus .ast a mrty-econd street
ortn, j anuary is, a aaugnter.
Marriage Licenses.
WESTON-BBlOGti John P. Weston. 630
Northwestern Harm Duiiuing, ana Marion
Jtsriggs, .vereii street.
alt-mau KB-rtuutt tjan Alt- Sandy.
Or., and Frances Mae Mac Jverrow, Greahaui,
Oregon.
HOLZAPFEL-NEIDTHARDT Georce W.
Holzapfel. 59 West Sumner street, and Min
nie ML Neidtharat, liroadWKy.
HOFKlNii-COUK Thomas M. Honklni.
Birkenfeid, Or., and lora M, Cook. t& Koss
street.
Vancouver Marriago Licenses.
ELLIOT-DORM AN Donald H. Elliot, e
gal, of Tleton. Wash., and Miss Addie L.
Dnrman. lecal. of Portland.
DIO KiS ON -CARLE L. M. Dickson. 22, of
Eugene, Or., and Mias Alice M. Carle, IS,
of Eurene, Or.
FRAZIER-DAVIDSON H. J. Frailer. 2T,
of Vancouver, Wash., and Miss Atha David
rvn. 24. of Portland.
M'MICKING-JACKSON F, L. McMlcklng.
44. of Alberta. Canada, and Mrs. Nielaigno
yi Jackson. 37. of i-os Angeles. Cal.
MITCHEL.L-MERGENS Lawrence Mit
chell. 35. of Spokane, Wash., and Mias Ger
trude Mergens, 21, of Seattle, Wash.
Building Permits.
ROT-THERN PACIFIC COMPANY Erect
tool house. Water-front, between Har-
rion and Montgomery ; builder, same; I--5
vrs flla TL'NK Alter frame shed. b41
Matadan. between Curry and Pennoyer;
builder. Acms Planing ahii; .-ul
DR. K. A. M'KENZIE Repair two-story
frxmt building (stores and rooms) on fautth,
: between Sixth and Davis; builder, A. J.
WEST UKE,IjU. L.LJiDr.n wrA.M
Erect one-story frame dwelling, fct. Helens
road and west uregon jui; o. Wynnes.
HnUdfr: oou.
W. A. MORSE Erect one and one-half-
story frame aweuiug, Aioma ave
nue. Dei ween oiuiyouu mou i euuv , ouiiaer,
same: $400.
THOMAS W. CuRKIS Repair one-story
frame dwelling, 1611 Vera, between Slxty-
firet and bixty-secons ; ijat button, Duuder
7tl
r.SORGE LAWRENCE COMPANY Re
pair four-atory brick ordinary, wholesale
harness, store. SO First street, between Oak
and Stark ; R- J. fctewart. bui.der; 10Q.
.T W. M FAPUb fcrect one ana one-
half-story frame- dwelling. 634 East Forty
fifth North, between Brasee and Wisteria
vrnue: builder, same; tJOoO.
C H. LABBE Alter two-story frame
laundry. 4t0 and 40a tiiisan street, between
Ninth and Tenth; Muitnomah Laundry,
builder: S30O.
HENRY MEISTER Alter three-story
frame apartments, odi i niro. netween
Clay and Market; J. U. DcMars, builder;
WE OFFER THE ABOVE NOTES FOR SUBSCRIPTION AS FOLLOWS:
. The One-year notes at 99.52 and interest, yielding 6 per cent.
The Two-year notes at 99.07 and interest, yielding 6 per cent
Subscription books will be opened at the office of J. P. Morgan &Co. at 10 o'clock A. M., January 24,
1917, and will be closed at 10 o'clock A. M., January 31, 1917, or earlier, in thetr discretion.
THE RIGHT IS RESERVED TO REJECT. ANY AND ALL APPLICATIONS. AND AteO. IN ANY EVENT,
itit ivni io AWARD A SMALLER AMOUNT THAN APPUED FOR
JHfOUNTS DUE ON ALLOTMENTS WILL BE PAYABLE AT THE OFFICE OF J. P. MORGAN 6- CO., IN
AMOU NEW YORK FUNDS, TO THEIR ORDER, AND THE DATE OF PAYMENT WILL BE
CIV EN IN THE NOTICES OF ALLOTMENT.
Temporary certificates will be delivered pending the preparation of the definitive notes.
J. P. MORGAN & CO.
FIRST NATIONAL BANK
New York City HARRIS TRUST AND SAVINGS BANK
BROWN BROTHERS & CO. & SAN & co.
KIDDER, PEABODY & CO.
NATIONAL CITY COMPANY
New York City
WM. A. READ & CO.
LEE, HICCINSON & CO.
WHITE, WELD & CO.
LAZARD FRERES
KISSEL. KINNICUTT & CO ' COMPANY OF NEW YORK
BANKERS TRUST COMP.ANY FARMERS LOAN & TRUST COMPANY
. Yorl(
CENTRAL TRUST COMPANY OF ILLINOIS , HALSEY, STUART & CO.
Chicago - Chicago
CONTINENTAL AND COMMERCIAL TRUST AND SAVINGS BANK MMBA
MARINE NATIONAL BANK Chicago UNION TRUST COMPANY
MERCANTILE JRUSTCOMPANY ' FIRST AND OLD DETROIT NATIONSBANK
. , i -
a UTT T. COM-
BOS Gideon ; , "J ."' 'l-. rrm.
iSW ;S ; Fri-t and
Water itreet; builder. ame. v
UNITED KTb " s.Vr k
d OaV; OU Elevaio? Company, builder.;
. v- .....nr
Fourtn sireei,
awemnr 675 Belmont .treet. between Ea.t
Dwtmns, T..1 .treat.: builder.
Tnirteenin uu -
maJ7oi- 'sPRANDO Erect two-.torr fram.
rldeEnPD8a iT El.htta . -trt b.tw...
Brooklyn ana wwa
'"PORTLAND' TRUST COMPANY OF ORE
GO V Repair on.-.tory frame dweUlns. 14W
SSre. between Bellevue and Durham
ftreeti- G A. Hennstreet. builder:
TeMEUX ESTATE Alter three-.tor,
brick ordinary (storee and roorns). 415
WaaMnKton. between Tenth and Eiev.nth;
J. A. Meltoa Company, builder..
COYOTE SKINS BRING $6.50
Inspector Arerlll Is Advised That
Demand Exists in East.
PEVDLETON, Or, Jan. S3. (Special.)
A record price of $6.B0 each waa paid
for cased coyote eKXos.at a receat auc
tion sale held In Washington. V. C-.
accordlns- to a letter received today by
Inspector Averlll from the Biological
Survey. Flat sKins brougrht only 14.75.
At the prices being- paid furriers Mr.
Averlll declared that during; the past
year the hunters In the Northwest un
der his direction have killed enough
animals to pay almost the entire cost of
operation.
s
There waa a decrease tn the number
of men killed In metal mines of the
United States during 1915. but an in.
crease In the death rate per 1000 men
employed.
Short Term Investments
We recommend the foreign Government
Secured Loan Gold Notes now on the market as
a safe, profitable and convertible investment. -
Detailed information furnished upon request.
- MORRIS BROS., Inc.
Railway Exchange Building
Foreign
Government
Short-Term Secured Loans
offer extraordinary investment oppor
tunities. We devote a large amount of
capital to foreign loans, affording
great security, quick convertibility
and excellent yield.
"We Invito Inquiry.
Lumbermens Trust Company
Capital and Sarplna SBOO.OOO.
LrafcefsieBi Bids. Fort land. Or.
V
I