THE, MOTCNTNG OREGOXIAN, THURSDAY. JANUARY 23, 1917.
STOCK LIST RAISED
London. $4.714
demand, $4-75; cable.
$4.76.
Mexican dollars, is 3c
SAN FBAXCISCO FKODCCE MARKET
HEW WHEAT FIRMER
Steel Is Evident.
BETHLEHEM SCORES GAIN
Price Current on Batter, Egg. Fruit, Veg
etables, Etc, At Hmj City.
If !.: l I 1:4-J Ptntnt. 1 SAT FR.V.NCI3CO, Jan. 24. Butter
HUUUIilUlcUIUII Ul UllllCU OiaiCO Fres) extras, 37c; prims firsts, 86c; tresh
ursts, SjIsc
. Eggs Fresh extras, 32c; pullets. 31c.
-Cheese New, 18c; Young Americas. 20c
Poultry Hens. 2122c; old roosters. 12
giac; fryers, 24i2Uc: broilers. ii7-30e;
large. 25327c; squabs. $2.252. 50; pigeons.
$1.2501.75: ducks, ltiglsc; geese. IStjiloc;
turkeys, live. 2:1 & 25c
Vegetables String beans. Florida, 20 9
25c: lettuce. Southern, $11.50: fancy,
$1.732; peas. Southern fancy, large, lo
11c; small, 8c; cream squash, $1.501.65;
tomatoes. Southern, $1.25; eggplant. Florida,
2025c: green peppers. OlOc; garlic.
2&4c; sweet potatoes, cellar stock. 3.25-;
celery, $3.504. rhubarb. $1.251.75; mar
rowfat and hubbard squash; $1.25&1.50.
Potatoes Rivers. $2.402.65.
Onions Carloads, $6.
Fruit Pears, Winter Nellls, $22.75;
lemons, $34x3.25: grapefruit. $2.25 a 2 50;
oranges, navels. $2.402.65: bananas, $1.25
fel.50; pineapples, $2g;2.50;' apples. New
town Pippins. $1.10 1.115; Belief leur, 60
Feedstuffs- Cracked corn and feed com
meal, uncertain; rolled barley, $4547;
meal, alfalfa, $21, carload lots; less, $22.
Receipts Flour, 400 quarters; barley, 71,
359 centals; beans, 1901 sacks; potatoes.
4.14o sacks; onions, 400 sacks; hay, 230 tons;
bides. 1000; wine, 27,500 gallons.
Unfavorable Crop Reports
From Middle West,
Kails Are More Prominent in Trad
ing and Display General Strength.
Russian and Italian Ex- "
k change Continues to Fall.
KEW YORK. Jan. 24. Operations on the
Ftock Exchange today were again very i
limited aa to scope and volume, but the
tendency was towards moderately higher
levels, occasional reversals being due to re
alizing sales. United States Steel and other
speculative favorites contributed fully 60
per cent to the day's meager total of 385,000
hare. ,
Bethlehem Steel, which yesterday declared
a substantial contribution of dividends,
moved between 425 and 447, closing at the
latter figure, a net gain of 17 points. United
Btates Steel denoted quiet and confident ac
cumulation, but made only or nominal ad
vance. Kails were more prominent than recently,
displaying general strength.
Exchange on Petrograd and Rome con
tinued to decline. Negotiations said to be
pending for large exports of gold to South
America and another transfer ofi currency to
the Pacific Coast was summed to represent
the further withdrawal of Japanese reserves
at this center.
Bonds were Irregular with slight conces
sions in Industrial issues. Total sales, par
value. $4,200,000. United States bonds were
unchanged on call.
CLOSING STOCK QUOTATIONS.
Stocks Idle at London.
LONDON, Jan 24. American securities
were idle and featureless on the Stock Ex
change here today.
HOGS NEAn HIGH REGORD
SNOW PROTECTION LACKING
PRICES
STEADILY CLIMBING
LOCAL YARDS.
AT
Trade Looks for Swine Quotations
Exceeding Those of Any Pre
vious Year.
1 Closing
Sales. High. Low. Bid.
Ikm Beet Sugar. 2to e:i'4 9a uVi
American Can . 8,200 47; 45 44,1
m Car 4 Fuy.. 0,00 6S G7Va t'H
jini Locomotive, uoo 77.i 76 77 4
Am Sm & Ret.. 5.0O0 lui-i 107 107 Vi
Am Sugar Ref.. fcOO 112 Vs 112 11 Ha
Am Tel &n'el... 3.0OO 126V 12 1-7
Am Z L-1 & S llVz
Anaconda Cop.. G.10O 8H 82 82
Atchison 2.7M 1004 105 15
Haldwin Loco .. a.aoo srVi K44 55
Bait & Ohio ... 1.400 81 'it MU fl'm
Br Rapid Tran 77 Vj
Hutts & Sup Cop 200 48 48,i 4'J
Cal Potroleum.. 12.300 30 27 217i
Canadian Pao. .. UuO 102 1 102 101 .
rent Leather... 2,400 Ml K8'4 SH Vi
heas ic Ohio .. U00 614',;, 4
.' M & St Paul HO4
Chisago & N W 122ji
C R I & P Ry.. 300 32 31 31
Chino Copper .. 800 ," r.5 54
Colo V & Iron.. 7H0 471,4 4BH 47
l orn Prod Ref.. 1.00O 2;i? 21 23H
Crucible Steel .. V.tiort tU 2'-j 63
lst Securities.. 2,'JOO 324, SI Si
Krio
(reo 31eutrl9 ... ......
Ot Northern, pfd. ......
lit Nor Ore Ctfs
Illinois Central. 200
Jut Consol Corp.
Iribporation Cop. 6,000
)nt Harv N J
lilt M M pfd etfs
Kan City So
Kenn Copper . . 3,600
I.OUIS & Nash
3lex Petroleum.. 18,500
Miami Cop 200
Missouri pao .
Mont Power ..
National Lead.
Nevada Cop ... 000
I V Central . .. 700
NY N Hi H-. 7.4IM1
Korfolk & West 5.100
No Pacific 400
Pacific Mall ... 000
Tac Tel & Tel. . ......
Pennsylvania ... 7,600
Kay Cou Cop... 50O
Iteadlng 8,800
Hep Irun & steel 1,200
fihat Aria Cop
iSo Pacific 1.000
Fo Railway 3.HO0
tudebaker Co.. 1,000
Texas Company, l.loo
Lnlon Pacific .. 40OO
do preferred
TT S Ind Alcohol 8.400
U S Steel 105,600
do preferred.. 800
T'tuh Copper 2.80O
Wabash Pfd B. 400
Western Union
West Electric... &0O
105
"&7Vi
104 U
41
105
'cti'.
102
41 H,
1,700 10GT4 104
24 4
101 Vi
4.'u
138
10S
23
'r.7
27
101
7U'a
'ii'-i
3314
109
220
144 1
124 V4
113
121
100 '4
24
62 i
23
IOI
:
134
lOSVj
23
'08
2S
100
78 H
97
:toz
107
143
122 i
112
120Vi
105
214
51
ni
168
110
35
loo
15
57
120
88'i,
21 "
4'A
130
103
41
18
105 i
60
24
101
45 14
138
108
23
S3
57
26
101
79
20
07
31
108
229
144
85
123
1 13
120
105
29
98
52
Receipts of hogs continue very light, and
while prices at the yards yesterday were
not changed, the undertone was strong and
the tendency of values upward. There is no
doubt in the minds of livestock men that hog
prices win soon reach the record mark of
$11.50. which was touched In the Spring of
1909. bince that date bogs have repeatedly
Bold above the 10-cent mark and it would
occasion no surprise It all records were
nhattered In this year or high prices and re
duced supply.
The following table shows rthe highest, or
top, prices paid for full loads of hogs each
month for the past 6even years at North
Portland :
1910. 1915. 1914. 1913. 1912. 1911. 1910.
Jan. . .J7.40 J7.55 18.20 $8.25 $7.05 $9.10 $10.00
reo. . (.dil .!. .u n.ITi 9.2.1 10.RO
Mar. . U.3. 7.00 8.90 9.65 7.25 9.00 11.25
Apr. .. 9.20 8.00 8.00- 0.HO 8.50 7.75 10.65
May .. 0.20 8.25 8.70 9.05 8.50 7 75 10 65
June .. 8.75 8.10 8.20 O.OOi 7.S5 7.50 10.15
July . 9.35 7.75 9.00 10.OO 8.00 7.05 10.30
Aug. . 9.90 7.60 9.50 9.75 0.2S 8.35 II).:
Sept. .10.00 7.10 9.25 9.60 B..15 R r.o In'
Oct. .. 9.75 7.10 8.05 8.SO 8.75 7. SO 10.:
Nor. . 9.85 6. 00 7.50 8.25 8.50 7.20 9.65
Lec. .19.25 6.25 7.60 8.10 8.00 7.10 8.S5
iear . U.2T 7.42 8.60 9.05 8.13 8.12 10.32
Reports From Over Half of Kansas,
Nebraska and Oklahoma Grain
Area Are Unfavorable Chi
cago Market Closes Nervous.
CHICAGO, Jan. 24. Unfavorable crop
ports from Kansas. Nebraska and Okla
homa did a good deal today to strengthen
the July and September deliveries of wheat.
The market closed nervous at $1.84 to
$1.84 for May and $1.53 to $1.53 for
July, with the market as a whole o off
to 2 c up as compared with yesterday's
finish. Corn gained to c and oats a
shade to c. The outcome In provisions
ranged from 7 decline to 5 advance.
According to a leading authority, asi vices
regarding more than half of the Kansas.
Nebraska and Oklahoma cpon vera adverse '
on account of a lack of moisture and be
cause of absence of snow protection.
Announcement of hix exDort clearances
helped to harden wheat prlcc-a In the last
half of the day. On the other hand, new
export purchases were said to aggregate
only 200,000 bushels.
Big export takimra of corn, estimated at
1.000.000 bushels, put strength Into that
cereal.
Oats rose with corn. Sale, of Rnonoo
bushels of oats to Europe were reported.
nigner quotations on hogs lifted provi
sions. British cables, telling of apprehension
as to a possible shortage of supplies, tended
further to stimulate buying.
ueauing lulures ranged as follows:
WHEAT.
Open. High.
$1.84 $1.84
1.05
CORN".
May 1.01 1.0214
July 99 1.00
OATS.
May .
July 1.51
Low.
$1.83
1.50
1.00
.99
Close.
14
1.53
1.02
1.00
May
July
.57T4
.55
.58
.55
PORK.
.57
.55
.KK
".65
MESS
..29.92 29.92
...16.62 16.67
LARD.
...13.82 16.67
...10.82 10.82
SHORT RIBS.
Jan 13.42 15.3T
May 15.75 15.75 10.67
t asn prices were:
Wheat No. 2 red. $1.00'4 ft 1.90K : No
hard.
May
July
May
July
29.75
16.52
16.52
16.67
59.75
16.05
16.55
16.72
1542
15.72
3
$1.91 it
4
Trading in the cattle division was limited
during the day and all lines were quoted
steady.
Receipts were 15 cattle, 242 hogs and 662
sheep. Shippers were: P. B. Decker. Sil-
verton, 1 car cattle and hogs; F. B. Fergu
son. Amity. 1 car hoi;s; O. D. Burdick. Al
bany, 1 car cattle and hogs; L. B. Miller.
wasltougal, three cars sheep.
The day's sales were as follows:
Wt. Price.
.1020 $6.25
. 920 4.0O
. . . 907
. . . . 1 0
....1080
... 75.1
. . . . 940
lofO
. ... ItiO
2.501
7.0"
4
0.50
4.1"!
5.50
',0
1 heifer .
1 heifer .
1 bull ...
1 bull ...
1 calf ...
1 cow..,
5 hogs . .
1 cow . .
1 cow . ..
9.5H.52 hogs . .
172 1O.0O 5 hoas . .
172 10.001 4 hoss ..
320 9.85 28 hogs ..
280 9.00
Y!f. Price.
. 420 $5.50
. 7tlo 5.00
. 640
.1S30
. 140
.10SO
. 9H4
. .18
920
3.
0.3O
8.O0
7.00
6.25
6.50
6.50
192 10.9O
218 lO.
380 9.90
117 9.00
Price.
..$S.00i 8 50
.. 7.00 8 00
. . 6.50 & 6 75
.. 7.35 7 50
. . 6.00 7 00
.. 5.751c 6.25
.. 4.0040 7 50
.. 3775 ft DO
.. 3.000 9.00
Total sales for the day, 38o.O00 snares.
BONDS.
TT 8 ref 2s reg.. 99Nor Pac 8s
tl S ref 2s cou. 9iPac T & T 5s..
IT S 3s reg M01 Pa con 4s
II S 3a coupon. lol So Pac ref 4s..
TI 8 4s reg.
XT S 4s coupon..'
Atchison gen 4s
NYC deb 6s..
Nor Pac 4s. . . .
69
101
'107
94
99
llrt M'n. Pacific 4s
llO'41Union Pac cv 4s 94
OfiMiiT' S Steel 5s.... 106H
112'.jSo Pac cv 5s... 14
UulAuslo-French 5s 93
Bid.
TloNton Minings Stocks.
BOSTON1, Jan. 24.- Closing quotations:
21
'Aiinii.x 6a INorth 1-iutte
Arizona Comm . . 12Old Dominion....
Calumet & Ariz. . S4 lOateola
Cal & Hecla....555 IQuincy
'Centennial 23 Shannon.T
Cop Range Con.. 6o'Superlor
T.- n.,,t cnnTioi. 14U An & Roston Mln.
Kranklln 8 Tamarack 54
Isle Rov (Cop) . . SKttlLTtan (Jons la
Lake Copper 14Vlnona 5
Mohawk 83 IWolverine 4i
86
88
15
7
1 cow
1 stag
1 cow
3 steers
1 steer
1 cow
3 cows
1 cow
1 cow
1 hog
4 hogs
7 hogs
3 hogs
1 hog .... :
Cattle
Steers, prime ........
Steers, fair to good ...
Steers, medium ......
Cows, choice
Cows, medium to good
Cows, ordinary to fair
Heifers
Bulls
Calves
Hoes
Heavy packing. 215-250 pounds. .10.S0frl0.9'
Light packing. 170-190 pounds. . .10. 80 10 85
Rough heavies ................ 9.8557.10.00
Pigs and skips ................ 9.35 fit 10.00
Stock hogs S.D0u 9.00
t-heep.
Lambs .....ir 75fji2.oo
Yearling wethers 9 00.fi 10.00
Old wethers 8.75 '-a 9 75
Kwes - 6.75 8.3j
Omaha Livestock Market.
OMAHA. Jan. 24. Hogs Receipts, 16.500.
higher. Heavy. $11011.25; light, $10.75'
11.10: pigs. $9.50010.50; bulk of sales.
liii nowii.ia.
Cattle Receipts, 6400. strong. Native
steers, $81)11.50; cows and heifers, $6.95'3i
8.50; Western steers, $6.7510.50; Texas
steers. $6.507.75; stockers and feeders,
Sheep Receipts. 12.300. steady. Tearlings,
fiw.iyliij.tiu, wetners. $9.50(i)lo.00; lambs.
$13.30 to 14.23.
red, $1.84 1.87 ; No.
1.93; No. 3 hard, nominal.
Corn No. 2 yellow. $1.01 L01 4 : No.
yellow. 9Sc$1.00: No. 4 white. 98c5f$l.
oats No. d white. OTSi OSc: standard, r.7 5:
er.8o.
Rye No. 2. nominal: No. 3. nominal- N
4, $1.30.
Barley $11.2S.
Timothy $3.50 a 5.50.
Clover $12 17.00.
Primary receipts Wheat AO.t Ana ...
1,005,000 bushels; corn. 1.347,000 vs. 1,611.-
ooo bushels; oats, 611,000 vs. 1.273,000 bushels.
Shipments Wheat. 774 MM v. ait nnn
bushels-- corn. 901.000 vs. 71 B oon h.h'.i..
oats. 0O4.0OO vs. 970.000 hn.h.l.
Clearances Wheat. 1.7:tr. mm h...h.i.- .
fu.vvv ousneis: oats. 94.
(000 barrels.
45.000 bushels; flour.
' Eastern
DTJLTJTH. Jan. 2
S1.80; July. $1.80.
Wheat Futures.
4. Wheat closed: May.
WINNIPEG.
$1.84; July,
Jan. 24. Wheat closed: May
$L81; October. $1.41.
KANSAS CITY. Jan. 54 txri,...
k?!'S0?: July' L9. September,
$1.34 bid.
Gen in at San Francisco.
tions walla, $2.72 t4 Sr 2.75: r.rt ..,.
l??6.60'' turke-' red. 3l?3.10: bluestem! '
$3(3.10. Peed barley. $2.22 4D 2 25 Whita
- " -a&-o.o0. Middlings.
$.,7ij3i. Shorts. $30331.
Call board Barlev Mav. t: i u i o - .
sales. 900 tons. " '
ETOCK ISSUE
TO
BE APPROVED
Schwab Declares He Will Retain Control of
Bethlehem Steel.
KEW YORK, Jan. 24. Shareholders Of
the Bethlehem Steel Corporation will be
asked at a special meeting on r eoruary .i
to ratify their directors' recommendation to
increase the common stock of the company
from $15,000,000 to $60,000,000 to provide
for a common stock dividend of 200 ner
cent. The doctors also Increased the com
mon stock dividend from 7 per cent to
10 per cent quarterly, and offered the com
mon stockholders the right to subscribe to
15.000.000 new stock at par on a basis
of share for share of their present holdings.
This bonus was declared In Wall street
today . to be one of the most magnificent
"melons' ever divided by an indstrial cor
Ttoratlon. Inasmuch as It Is understood
that the present stock Issue Is controlled by
Charles M. Schwab and his friends, there Is
virtually no doubt that the directors' propo
sition will oe approved.
Mr. Schwab, chairman of the corpora
tion, declared that control, of Bethlehem
Steel never would pass out of his hands
and the hands of his associates. Voting
power will be withheld from the new- stock
to be tseued.
The declaration of the bonus. Mr. Schwab
explained, was made possible by the cor
poration's Immense earnings In 1916, which
amounted to $61,717,329, compared with
$23.7S2.7S4 In 1915.
P1TTSBCRO, Jan. 24. Stockholders of
the Standard Underground Cable Company
were today notified that the directors yes
terdav authorized an Increase of the capital
stock' from $3,500,000 to $10,000,000 and
had declared a stock dividend of 50 per csiit.
equal to $1,750,000 par value. The stock has
a market value of $400 a share. The direc
tors recently declared a dividend of $11 a
share.
NEW YORK. Jan. 24. The Pressed Steel
Car Company today declared a quarterly
dividend of $1.75 a share on the common
stock and the usuul quarterly disbursement
of $1.75 on the preferred stock. The com
mon disbursement represents an Increase of
25 cents a share over that declared last
ost&Bsr
Chicago Livestock Market.
CHICAGO, Jan. 24. Hogs Receipts. 42.-
000, strong. 10c to 15c above yesterday's
average. Bulk, si l.ldi 11. 40: light. $10.80-91
11.30: mixed. $10.0O'!r11.45: heavy. $10.9."
11. no; rough. $10.85611.10; pigs, $8.75
lO.no.
Cattle Receipts 18.000. firm. Native beef
cattle. $7.7511.90; Western steers. $7.70
10: stockers and feeders. $6??8 90: cows and
heifers. $53'10.15: calves. $10.5014.75.
Sheep Receipts. 18.000. Bteady. Wethers,
9.7o8j)ll: lambs. $11.7514.40.
Coffee Futnres Market Quiet.
NEW YORK. Jan 24. The market for
coffee futures was quiet again today, sale
being estimated at 24.750 bags. The open
ing was unchanged to 2 points higher, bat
after selling at 8.56c. May contracts eased
off to 8.54c under liquidation. The clos
was 1 to 3 points net lower. January. 8.37c;
February. 8.40c: March. 8.44c: April. 8.4c:
Mny, 8.53c: June. 8.5c; July. 8.6rtc: August.
8.64c. September, 8.69c: October. S.73c: No
vember. 8.78c : December. 8.S2c. '
The spot market was quiet and unchanged
on Rio coffees, with 7s quoted at 10 cents,
but Santos were easier, owing to increased
competition of mild coffees, with 4s quoted
at 10-. An oirer or Santos 3s and 4s was
reported in the cost and freight market
10.55c, prompt shipment by neutral steamer.
which was believed to be from a re-seller.
Some of the Santos shippers are said to be
asking for bids.
The official cables reported no change
In Brazilian markets, except for a decline
of 25 rels in Santos futures.
Puget Sound Grain Markets.
SEATTLE. Jan. 24 tvv,, , di .
,1'?5;- Turl":v red, $1.76; fortyfold. $1 62:
club. $1.02: fife. $1.60; red Russian, ti r.11
Barley. $39.50 per ton.
Yesterday's car receipts Whf i
corn 1, hay 6, flour 0.
TACOMA." Jan 24 Wh. n .
$1.65; fortyfold, club and red fife, tl.ei'
red Russian, $1.60.
arioaa receipts wheat 5. oats 1, hay 13.
Chicago Dairy Produce.
CHICAOO. Jan. 24 Rio,..
Eggs lower. Receipts. a:;i9 -.,- n
88c; ordinary firsts. 30337c: It mark
cases included. SSBSSc.
Dnlutb Linseed Market.
DT7LCTH, Jan 24. Linseed, on track
2.90: choice. S2.92: ori-iv. ii'oiii. If...'
$2.03; July. $2.94, bid. ' V
DAILY CITY STATISTICS
ss
Copper
and third
firm.
quar-
Spot.
v. .
Money, ExchaitK, Etc.
NEW YORK. Jan. 24. Mercantile paper.
S pe cent.
Sterling. . 60-day bills. $4 72; commercial
60-day biils on banks, $4.72; commercial
60-day bills. 4.71i; demand, $4.7" ; ca
bles. $4,76 7-18. Francs, demand. 5. 84; ca
bles. 5 83. Mark, demand. 6S H : cables.
Kronen, demand. 11 ; cables. 11 V
Ixuilders. demand, 40 ; cables, 40. Llres.
demand, 7 20; cables, 7.19. Rubles, demad,
2&b ; cables. 2SV4-
Par silver. 70-4c,
Mexican dollars. 39c.
Government bond, steady; railroad bonds,
Irretrular.
Time loans steady; 60 days, 2Hr3 per
rein; 0 days, 2 ffZ per cent; ix months,
Si per cent.
Call money steady. Hlsh, 2 per cent; low.
1 per cent; ruling rate, 1 per cent; last
loan, S per cent; elocrinff bid, 1 per cent;
on er a at a per cent.
LONDON. Jan. 24. Bar allver, 8T3-16d
per ounce.
Money 3 per cent.
IUcount rates, short bills, 5&H pef cent;
three months, 5jZ5V per cent.
6 AX FRAMCISC0r7aa Sterile s; on
Metal Markets.
JTEW YORK, Jan. 24.
Fleetrolytlc. riret. second
ters. $J8.5t32.rOc,
Metal Exchange quotes tin steady.
45 12 45.87 He
Iron steady and unchanged.
At t-?hdon Spot copper. 130 Bs; fntures,
C12 10a: electrolytic. 141. Spot tin, 1S9
7s Pd; futures, 110 7s 6d.
The Metal Exchange quoted lead T.75c
bid.
Spelter dull. Fpot, .East sr. Louis de
livery, 1 Oc. asked.
At London Lead. 30; spelter, 52 10s.
Naval Store.
SAVANNAH, Jan, 24. Turpentine dull. 52
to 52 U c; eals, none; receipts. 32 barrels;
shipments. iil7 barrels; stock, 18.179 bar-
Rosin firm: sales, S34 barrels; receipts.
R3 barrels: shipments, 501 barrels: stock .
77 4"! barrels. Quote: A. B. C. D, E. F, G.
$i5.10; H, I, tfi.20; K. $6-2 5: M. $ 35: X.
7.10.
$250,000,000
United Kingdom of Great Britain and Ireland
ONE-YEAR AND TWO-YEAR SV SECURED LOAN CONVERTIBLE COLD NOTES
Dated February 1, 1917 Interest Payable February 1 and August X
$100,000,000 One-Year Notes Due February 1, 1918
$150,000,000 Two-Year Notes Due February 1, 1919
Principal and Interest Payable at the Office of J. P. Morgan & Co.
Convertible upon notice, at the option cf the holder, at any time before maturity, or (if called for earlier redemption) at any tim
until and including the date of $uch redemption into twenty-year 5J4 bond of the United Kingdom of Great Britain and Ireland,
payable February i, 1937, and not subject to prior redemption.
Principal and interest of the note, 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 a!
the fixed rate of $4.86J2 to the pound.
Coupon notes in denom'matlom of $1000. $5000 and $10,000
: Redeemable at the option of the CovemmenU in whole or in part, on thirty (30) days' notice as follows?
One-Year Notes Two-Year Notes
From February 1, 1917, to January 31, 1918 ....... .101 and interest 102 and interest
From- February 1, 1918, to January 31, 1919 101 and interest
The notes are to be secured by pledge with Danker Trust Company, New York, under a pledge agreement executed by 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 Stocks, bonds and or other securities of A merican municipalities and corporations
and of the Canadian Pacific Railway Company, and bonds and or other obligations
(cither as 'maker or guarantor) of the Covemmail of the Dominion of Canada, the Colony
f Newfoundland and or Provinces of the Dominion of Canada, and J or approved
Canadian municipalities: Aggregate value not less than -t.. $150,000,000.
(O the foregoing there will be somewhat over $ 1 00.000.000 in value in the securities of
municipalities and corporations of the United Stales 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 following Governments, to wit: Argentina, Chilc, Cuba, Commonwealth of
Australia, Egypt, Japan, New Zealand and Union of South Africa, and or bonds ,
and J 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 linlish railway companies: Aggregate value
not less than. ............... ......................................... .
Total .... - . . - . ..... . ... . i
$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 yalue. 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 proceed ef sale to be
.applied to the retirement of notes by purchase or by redemption by lot ,
Upon the retirement of the one-year notes or upon reduction of the amount of notes outstanding, through conversion, a 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.
77iis offering is made subject to the approval by our Counsel of ne cessary formalities.
WE OFFER THE ABOVE NOTES FOR SUBSCRIPTION AS FOLLOWS:,
s '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
Minneapolis Grain Market.
MTVNEAPOLIS. Jan. 24. Wheat May.
$1.S4; July. $1 SO. Cash. No. 1 hard.
$1 P4i 1.964 : No. 1 Northern. $187
X fmu. ; No. 2 Northern. $l.S4".i 1.90 Vi-
Flax, $2.88 i'2.93H.
Barley. S9c(a $1.22.
Cotton Market.
NEW TORK, Jan. 24. Spot cotton quiet.
Mid up-lands, 17.10c. No sales.
Hons, Etc., at New York.
NEW YORK, Jsn. 24. Hops and hides,
q.ulet. Wool, steady.
,
Dried Frnlt at Nnr York.
NEW YORK. Jan. 24. Evaporated apples.
dull. Prunes, steady. Peaches, quiet.
Keir York Sugrar Market,
NEW YORK. Jan. 24. Raw surer noml
nar. Centrifugal. $5.20; molasses, $4.33. Re
fined steady; line 6--inulaed, ta.7.
Births.
. w.. 4 , Fony-uiia avenue sou
east, January 4. a sou.
nKjct-io air. and Mrs. Alexander J.
Brice, East Seventy-second sueet North.
v-SPk-To Mr' n'5 Mr- Jean Conrad,
wmametta moorings. January B. a tluugh-
BERKMAN To Mr. and Mrs. Ernest Berk
man, oaa Thurman street, January 9 a
son. t '
M'CALLISTER To Mr. and Mrs. Roy H
McCallister. Culver, Or.. January 9, a daueh.
ter.
sj., ,TO wn ana Mr- John O. Hisey.
ay, oatiuny j ij, K oaUgnteT.
BUMiMiTOX To Mr. and Mrs. Georire
.luiiuHgiuii. diarsuerite avenue- Janu
ary 10, a son.
To Mr. and Mrs. John Bollo,
Tenth street. January 11. a daughter.
BADER To Mr. and Mrs. Edward Bader
2S4 East Eighty-eighth street, January 11.
HARTSON To Mr. and Mrs. P. E. Hart
son, 523 East Harrison street. January 11 a
daughter.
iah.uk To Mr. and Mrs. Leslie Tay-
ivtj ienix-ninin street rs'orth,
January 12. a son.
KENT To Mr. and Mrs. Eugene w. Kent
303 East Forty -seventh . street. Januarv !'
a son.
BLODGETT To Mr. and Sirs. Charles
Blodgett, 1409 East Davis street, January
13. a son.
DOYLE To Mr. and Mrs. William Doyle
149 Admiral street, January 13. a son.
Vanconver Marriage Licenses.
GRIFFITH-TALLY T. N. Griffith, 29. of
Portland, and Miss Lilly M. Tally, au ol
Woodburn, Or.
DYE-COOK George C. Dye. 22. of Eugene
Or., and Miss Ella Cook. 17. of Junction
City. Or.
LITNDY-SUSEE Ward E. Lundy, 24 of
Portland, and Miss Delia M. Susee, 20-. of
runiKiiu.
NELSON-STEPHE.VS William C. Nelson.
23. of Portland, and Miss Eulalle A Ste
phens. 22. of Portland.
DELB ARCO-BON A NDO Ellno Delhareo
2. of Portland, and Miss Mary Bonando 18
of Port!and. '
HAYDEN-STROM R. L. RitA.ii o
Baker. Or., and Miss Nora Strom. 27 of
Baker. Or. '
Marriacre Licenses.
CLARK-NESVOLD Harold J. Clark, Lvle
Wash., and Anna L. Nesvold, 381 East
Fifty-first street North.
DLLUCA-MARIETTE MTTce Deluca, Forty-fourth
street and Sixty-seventh avenue
Southeast, and Oiiveris Marietta, 007 Second
street-
SPRINTtEL-FOOTE A. H. Sprlnkel, Al
der Hote'. and Edith C. Foote. Alder Hotel
ILLK-WEBEH Wemel i:.k. 22 Alberta
street, and Frances Mary Weber, 40 diq.
erson street.
MEYERS-GORDON- Fred A. Meyers. 43
East Eighth street North, and Pearl Gordon,
91& Halght avenue.'
Building; Permits.
ELSIE HELM Repair one-story frame
dwelling. 763 Tacoma. between Twenty-first
and Twenty-third: Manny Contract Com
pany, builders; $4W
WILLAMETTE GAS ENGINE COMPANY
Alter one-story brick ordinary machine
shop and garage. 361 Bumsicie. between East
Antra snu t nun avfnue; ouimer, same; x.tlHl.
mil tl A r. 1. aAlKiAK iv- jj.i i r one-story
frame dwelling, o&4 prtn K.tilocS', between
Subscription books tvill 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 their discretion.
THE RIGHT IS RESERVED TO REJECT ANY AND ALL APPLICATIONS. AND ALSO. IN ANY EVENT,
TO AWARD A SMALLER AMOUNT THAN APPUED FOR
AMOUNTS DUE ON ALLOTMENTS WILL BE PAY ABLE-AT THE OFFICE OF J. P. MORGAN & CO.. IN
viiUL, YORK FUNDS. TO THEIR ORDER. AND THE DATE OF PAYMENT WILL BE -
GIVEN IN THE NOTICES OF ALLOTMENT..
Temporary certificates will be delivered pending the preparation of the definitive note.
BROWN BROTHERS & CO.
NATIONAL CITY COMPANY
New York City
WM. A. READ & CO.
LEE, HICCINSON .& CO.
WHITE, WELD & CO.
J. P. MORGAN & CO.
FIRST NATIONAL BANK
New York City .
Chicago .
w -P- xx cir in ma hi JP- "Y
KIDDER, PEABODY & CO. , .
KISSEL, KINNICUTT & CO. ,.OA r, ,r,, w,r-
uUiArini A t AUJ1 uuinrwi i f s w"-
BANKERS TRUST COMPANY FARMERS LOAN & TRUST COMPANY
New York City ' - - Wen. York City
CENTRAL TRUST COMPANY OF ILLINOIS HALSEY, STUART & CO.
Chicago Chicago
CONTINENTAL AND COMMERCIAL TRUST AND SAVINGS BANK
MARINE NATIONAL BANK Chicago UNION TRUST COMPANY
Buffalo - Pittsburgh
MERCANTILE TRUST COMPANY FIRST AND OLD DETROIT NATIONAL BANK
SL Louis Detroit
St. Johns avenue and Catlin; builder, same;
'viTO FRANC ANE Repair two-story
frame dwelling. 590 Fourth street, between
Grant and Sherman; Domeuick Desantlc
builder; $180.
W. C. LESLIE Repair one-and-one-half-story
frame dwelling, 1030 Brooklyn, be
tween Thirty-fourth and Thirty-fifth; W. J.
Mutr, builder; $175.
J. N. EDLEFSEN Erect frame garage.
1034 Willamette boulevard, between Burr
and Buchanan; $50.
. . .. . ... . cv.Tvp . MinmVlB WORKS
Erect two-story joiner shop, on river, at
loot OI Harding street; .hjt.
FRUIT GROWERS ELECT
Washington Association Holds Meet-
' tng at Centra 11a.
CENTRALIA, Wash., Jan. 24. (Spe
cial.) A. J. Milem, secretary of the
Washington Fruit Growers Assoc la
tion. stated yesterday that the asso
ciatlon during; the past season han
dled 50 times as many potatoes as any
previous year. About $8000 worth of
berries were handled last season by
the association, none of the members
suffering loss through the wasting of
their producL The berries were
shipped as far east as Salt Lake City.
The annual meeting or the stock
holders of. the association was held in
the Commercial Club rooms yesterday
afternoon. Mr. Milem, A. Crabbs and
Dan Wiler were re-elected to the board
of directors, the other -six members of
which hold over. The directors will
meet In a tew days and elect officers.
J. C. Norton Is president of the association.
Rosebnrg Turns Down Business Men
ROSEBURG, Or, Jan, 24 (Special.)
At a meeting of the City Council
held here last night the request of the
Roseburg Merchants' Association, ask
ing for a paid chief for the fire de
partment was denied. Mayor Rice
stated that there were already too
many paid officers in Roseburg and It
would be his future policy to practice
economy rather than swell the current
indebtedness of the municipality.
Price Advances on Steel.
PITTSBURG, Jan. 24 Announcement
was made here today that the United
States Steel Corporation had advanced
the price of structural shapes and
plates $3 a ton.
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 Invite Inquiry.
LrnVrmens Trust Company
CsusltaJ sad Ssurploa asxHMMO.
LiBbcriKU Bids;. Portland Or.