THE MORXIXG OREG ONI AX, MONDAY, NOVEMRKR 24. 1919. . - 13
E
BY pehmsiha ships
Performance of Several Ves
sels Is Commended.
BUILDERS GET. MESSAGES
Other Wood Ships Failed to Come
Cp to Peninsula Standard, Says
One, Hence Criticism.
Pedro la
West port.
due and will load lumber
T wish to say that if all the
wooden steamers had come up to
the standard of those built by the
Peninsula Shipbuilding: company there
would have been no ground for
criticism." .
Such is the statement of Captain
K J. Barheb. captain of the Cresap,
Portland-built vessel which is now
doing service on the Atlantic. A
letter commending the performance
of the ship has been received by
F. C. Knapp, president of the Penin
sula Shipbuilding company, from Cap
tain Barnes.
Writing from New York, Captain
Barnes says in part:
"Evervone here who has inspected
fhiH vPRSfil and the Braxton, declare
they are the best built vessels they
have seen and have required less re
pair than any that have come here
from the northwest, or elsewhere.
We had pleasant weather all the way
from Colon, so I could not judge as
to the Cresap'a seaworthiness in
rough weather.
"I will become master of the S. S.
West Celina tomorrow on a regrular
run between New York and Man
chester, Kngland, leaving on or about
December 1. My chief officer, S.
"Wissing, is going master of the Cre
nap tomorrow, and he will advise you
from time to time as to her be
havior. ln conclusion I wish to say that
if all the wooden steamers had come
up to the standard of those built
by the Peninsula Shipbuilding com
pany, there would have been no
ground for criticism."
A letter commending the behavior
of the steamship Brentwood, another
Peninsula Shipbuilding company ves- j
sel, has also been received by the j
company, from N. A- Sjogren, master.
"The Brentwood is steady-acting;
and handling well in every way," he,
writes from Philadelphia. "Making
the trial trip everything was running
fine. Sailed from Astoria September
Hfl, having good weather all the way.
Ship made about 231 miles in 24
hours. The ship is tight and not tak
ing any water- We arrived In Phila
delphia with everything In good
order."
Pacific Coast Shipping Xotes.
SEATTLE, Waih., Nov. 23. (Special.)
Knowing a Rain of $2,321,054, compared
with tho same month iaat yaar, when Heat
tie war trade was running at high tide,
the water-borne commerce of the port tor
October reached the tremendous total of
J71.t74.777, according to figures compiled
toy Port Warden A. A. Paysae.
Masters lor three eteel vesaelt of the
United State shipping board, the steam
hips Eglantine, lO.uuO tons; Egremoni,
10,000 tons, and Gaffney, 7500 tons, have
been announced by the board's sea service
bureau.
Captain B. C. Elde, who commanded the
U. i-i. Onus, will become master of the
liglantine. The vessel has been assigned
to Waterhouse & Co.
Captain E. G. Froberg, a former master
of the steamship Eld ridge, will command
the Egremont, assigned to the Pacltic
bteamshipcompany, the Admiral line.
Captain Otto Kohlmeister, who took the
wooden sle&mwhtp Fort Btevens from Port
land io the Atlantic, will command- the
tiitftney. which has also been assigned to
the Pacific Steamship company, tne Ad
miral line.
The'steamshlps Eglantine and Egremont
were built In tho yards of the Skinner &
Eddy corporation. The Caffney is a prod
uct of the Todd Drydocks, Inc.
Promotion of H. E. Krick. former North
ern Pacific district manager of the emer
gency fleet corporation, to the second
bight-st pkice in the corporation's execu
tive orgiLnlznT ion, was announced in a gen
et al ordet received here yesterday from
Philadelphia. He had been appointed head
of the new division of construction formed
by a consolidHtton of the ship construction
division, the shipyards plants division, the
engineering department and all other de
parttuents and divisions connected with the
bui'.dins of Rovi-rnment merchant ships.
Lumber orders for which flue ret. Jacks
Parirners. Inc.. in spoking cargo space for
the transportation to foreign ports, jumped
to .:,,0O0.ikmi feet last week, a gain of
8 nno ooo feet compared to the previous
KhfK, when orders totaled 47.OtO,o0O feet.
Three weeks ago the firm's orders totaled
ittfO.OOO feet, so that the gain in the last
21 days Is 20.000,000 feet. Tho increase
Cives an index to the enormous growthin
t lie demand for Douglas fir In foreign
nation?, especially on the other side of
the Atlantic.
COOS BAT, Or., Nov. 23. (Special )
Captain A. Carlson, of the steam schooner
Yellowstone, which got into Port this
morning, came from Long Beach, where
the Yellow atone sought drdock facilities
for a month's repair work but saw no
t hai.ee of getting attention for some time.
The damaged ii. C. Lindauer was ahead
of the Yellowstone and had not reached
ihc rio-k. while the Hanrion, damaged on
the BanUon bar on Iter last trip out, also
had prior rights to the dock. The Ban
cien Htruck on the bar and opened her
scams, and at Sn Francisco called for
repairs to her pumps.
The congestion of shipping caused by
had conditions at the bar was cleared to
day when all the craft with lumber car
goes sailed before noon, and two vessels
came into port from the south. The line
of Failing Included the C A. and Johanna
Smith for n Francisco and Bay Point;
the Laitv Freeman for San Francisco and
the Meum schooner Martha Buehner, for
hrtn Francisco.
The Ms ht house tender Rose remained In
port but will leave tomorrow for the.
V mpqua ri er lighthouse to deliver sup
pries. The gasoline schooner Tramp, of Rogue
rlcr. is loaded with freight, but Captain
iivin is afraid of the Kogue river bar
and is waiting Instructions from there.
The steam schooner Bee arrived from
San Francisco with freight.
The Yellowstone will work nights and
sa il late Tuesday for ban Francisco with
lumber. ,
rORT TOWNSEND, Wash., Nov. 23.
(Special.) With her decks piled with
lumber, even with the bridge and her
hold filled with general freight, the W. R.
Grace Santa Inez sailed today for west
coast ports. She will call at San Fran
ciseo, for which she loaded 400 tons of
oats at Seattle.
In t he service of Pf mond & Co.. the
steamer Tiffin sham sailed this morning
for Europe via coast ports. At Seattle
she took on 30O0 tons. She will call at
Portland w here freight awaits her and
w ill complete her European cargo at San
Francisco.
Inaugurating the new service of the
A la ska Steamship company from the At
lantic to San Pedro. San Francisco and
1'tiKet sound, the steamer Valdea will be
gin loading at Baltimore next Wednesday,
according to advices , received by local
agents ot the company.
In the service om the Matson Navigation
company, the steamer W'alllngford arrived
this evening from San Francisco, proceed
ing to Seattle where she will begin load
ing for Honolulu.
ASTORIA. Or.. Nov. 23. ( Special.)
The government dredge Col. P. S. Michfe.
which has been undergoing repairs- at
Portland sailed at tt o'clock this morning
for (jraya Harbor, where she is to improve
the channel across the bar.
Tha steam schooner Sianwood arrived
at 10 o'clock last night from San Pedro
and went to Prescott to load lumber.
After discharging fuel oil in Portland,
barge 0U saiied this afternoon for Cali
fornia. She Is being towed down the coast
by the tank Learner Atlaa from Puget
sound.
The steamer Effingham fs due from Se
en luuie to roi nana
SAN FRANCISCO. Nov. 23. (Special
The losses which have been suffered by
steamship operators since the inception
of the waterfront strike were amply dem
onstrated in the time consumed In unload- j
Ing the steamer Diablo, which will leave
port tomorrow morning lor Portland,
The Ilablo. operating under the flag
of the Pacific Mail Steamship company,
arrived here October Jitt. in tow of the
steamer Manoa, after being picked up 600 .
miles off shore In distress with her fuel
tanks empty. It required 30 days to
unload the Diablo's cargo of 8000 tons
under present working conditions together
with time lost by inspection to reveal
what happened to the steamer's 1400 tons
of fuel oil which was taken on board at
Honolulu on her trip en route here from
Singapore and Calcutta.
Under normal conditions, the Diablo's
cargo would have been discharged and
the vessel loaded and ready to sail within
a period of ten days. The vessel is leav
ing for Portland for repairs and going in
ballast, to be loaded in the northern port.
Today was one of the busiest days on
the San Francisco waterfront for a Sun
day in some time. Six freighters were
placed in readiness to clear either tonight
or early tomorrow morning.
The Norwegian steamer Tancred sailed
tonight for Kobe and Shanghai under the
operation of Robert Dollar Steamship com
pany. The steamer Diablo, flying the
flag of the Pacific Mail Steamship com
pany, will, leave early tomorrow for Port
land for repairs and to load. Hind. Rolph
& Co. dispatched the British steamer
Wairuna to Vancouver. The motorship
Lib by Maine left for Corinto for the Pan
American line and the Harrison direct
freighter Architect cleared for Liverpool
direct -with a cargo of coal products. The
Standard Oil tanker Ardmore sailed for
Tamplco, late today in ballast.
Nineteen steamers arrived including 12
steam schooners, together with three oil
tankers and the passenger liner Rose City,
from Portland, in addition to the Dutch
steamer Boerkaerta. from Dutch East In
dian porta via Nagasaki, with 7000 tons
of merchandise and five first-class passen
gers. The super-dreadnought New Mexico left
port today for a cruise. This will prob
ably mean that the "gobs" will eat their
Thanksgiving while under way and not
in San Francisco,, as bad been originally
intended.
The U. S. S. Pensacola arrived here to
day from Manila via Honolulu.
The schooner -Commerce, Captain An
d ergon, with a cargo of case oil under op
perations of Sanders & Kirch man n, sailed
today for Dunedin,
The new steamer Effna, Captain Woods,
arrived here from Seattle today for the
account of the Pacific Steamship company.
:iFLDATING DEBT OF
UNION HELD SMALL
Federal Reserve Bank Gov
ernors Hold Conference.
FINANCING PLANS ARE UP
Movements of Vessels.
PORTLAND, Nov. 23. Arrived at T1:1R
A. M., steamer Curacao, from San Fran
cisco via Eureka. Arrived at Prescott at
9 .SO A. M., steamer titan wood, from San
Pedro. Sailed at 5 P. M., steamer Ernest
H. Meyer, for San Pedro via Westport.
Sailed at 2 P. M., steamer Horace X.
Baxter, for Palta and Talars. bay, Peru.
Sailed at 0 P. M., steamer Curacao, for
San Francisco via Eureka and Coos Bay.
Issuance of Short-Time Securities
Now Under Consideration ;
Credit 3Ien Meet Tonight.
John TJ. Calkins, governor of the
federal reserve bank of the 12th dis
trict, has been in Washington attending-
a conference of the crovernors and
meeting with the federal reserve
board. On his return announcement
is expected of plans for financing the
immediate needs of the treasury.
Floating indebtedness of the govern
ment Is not as great by half as it was
estimated six months ago that it
would be at this time, and bankers
are discussing whether or not a
as to Interest and principal, they
guarantee a fixed rate of Interest.
The Baker-Boyer National bank,
Walla Walla, has just celebrated the
fiftieth anniversary of Its founding as
the pioneer bank of Washington. In
commemoration, an interesting book
let has been issued, covering the his
tory of the institution during the
half century dating from November
10. 1869. Treasured souvenirs of the
early days of the bank that attract
interest today are the balances that
were used for weighing gold dust,
which was commonly used in trade
during the early days, before a great
deal of the minted coins of yellow
metal had come to the Columbia basin
for circulation. Dr. Dorsey S. Baker,
one of the founders, was located in 1
Portland in the late '50b, and In 1859
bought the safe for use in his office '
here, which he shipped to Walla
Walla in 1861 and used there. It was
used by the bank from the time of
its establishment.
Dr. Baker was & constructive genius,
who saw in the fertile soil of that
region great possibilities, and when
he abandoned the practice of medicine
for the field of business, it was the
forerunner of the farming develop
ment of that region. The problem of
shipping flour into that region was
soon changed to that of shipping the
wheat to market and marked the be
ginning of the river traffic by the
Oregon Steam Navigation company.
He built the first railroad In that ter
ritory, the Walla Walla & Columbia
River, now a part of the Oregon
Washington Railroad & Navigation
lines. John F. Boyer was the partner
of the firm engaged in mercantile
business that grew into the bank.
Miles C. Moore Is now president of the
bank, of which he became vice-presi
municipal bonds appear on the offer
Ing list of the Lumbermen's Trust
company this week for the first time.
An exceptional financial statement
features an issue of $115,0ou Walla
Walla county, Washington, 6 per cent
bridge bonds, which are being sold
by the trust company at a price to
yield the investor 4.70 per cent income
tax exempt. The total bonded debt ot
the county is only $211,000 as con-
trasted with an assessed valuation of
over S32.000.000 and an estimated ac
tual .value of $65,000,000. The bonds
were issued to finance the construc
tion of a bridge over the Snake river
on the Inland Empire highway near
Burbank.
A block of $75,000 port of Newport.
Lincoln countyr Oregon, 5 . per cent
bonds is being offered on a basts to
yield 5.20 per cent. The port district
embraces practically one-half of Lin
coln county and includes the town of
Newport as well as a vast area of
fertile farming land and a belt of
choice timber. The total area of the
district is 270,000 acres.
Bonds issued by Power county,
Idaho. Highway District No. 1 will
finance the construction of a per
manent highway. These bonds con
stitute a direct general obligation of
the entire district and are being sold
on a basis to net 5.10 per cent.
The trust company is also market
ing an issue of $21,750 Park county,
Wyoming. School District No. 2, 6
per cent bonds at a price to yield 6. 20
per cent. This district includes the
own of Powell, Wyo., with a popula
tion of 1500 and a banner agricultural
region, having a total area of 30.700
acres. The Wyoming law limits the
indebtedness of school districts to 2
per cent of the assessed valuation.
PORT CHIEFS TO GATHER i
PACIFIC COAST COXVEXTIOX
TO OPEX DECEMBER 1.
method of issuing short-term securi
ties may not be adopted, rather than dent in 1889, the year it was chartered
some lorra extending: over two or I as a national bank. In March. 1889
three years, similar to the victory
loan notes.
" Robert E. Smith, director of sale
for war savings and treasury securi
ties for this district, returned yester
day from Ban Francisco. He says
information received discloses that
the condition of the United States
treasury is ' excellent and probably
will not require much financing: dur-
he was appointed governor of Wash
ington territory, serving; with dis
tinction until the territory was ad
mitted to statehood.
Selling: preferred stocle of public
utilities directly to employes and
patrons without the insurance of hav
ing: issuea underwritten has become
a popular practice with big- corpora
tions. The Portland Gas & Coke Co.
U.S. TO PROBE COUST OIL
GOVERNMENT TVAXTS LIGHT
OX HIGH PRICES.
ASTORIA. Nov. 23. Sailed at 12:40
A. M., barge 93, for San Francisco. Arrived
at 8:4u and left up at 9 A. M., steamer
Stanwood. from Ban Pedro.
SAN FRANCISCO. Nov. 23. Arrived at
noon, Dutch steamer Soerakarta, from
Menado via. Nagasaki,
ing the winter months, but there may adopted the method with excellent
be offerings of treasury certificates results when its issue of $250,000 was
of indebtedness of short maturity, distributed to 400 purchasers, the
In round figures there Is about average par value acquired being
$1,000,000,000 of floating indebtedness $625. The plan was originated by the
which was not made in anticipation j Pacific Gas & Electric Co. of San
of income from taxation. Francisco, when in 1914 an issue of
"It is problematical," he said, preferred stock was offered. Since
"whether some plan of refunding will that time sales have been made in
be resorted to, like the issue or vie- this manner to the amount of $8
tory loan notes, or whether tnis 353,400.
$1,000,000,000 of floating indebtedness
will be taken care of through re- I As an added service to its clients
issues of short-time certificates of in- 1 the Lumbermens Trust company
debtedness thai: would finally be publishing a series of news bulletins
wiped out through tax receipts." containing pertinent information with
To some degree it appears that the I reference to the securities upon its
treasury has antic. oated the receipts I current list as well as bonds, notes
rot March 15 and in a measure the re- land stocks handled by the company
ceipts of September 15. But there is I in the past. An effort is being made
a considerable part of the outstand- by the trust company to keep its
8FATTLE. Nov. 23. Sailed laat night,
steamer Johan Pou1en, for the Columbia
river. Sailed at 3 P. M., yesterday, steam
er Effingham, for Portland, London and
Liverpool.
SAN FRANCISCO. Nov. 22. Sailed at
noon, steamer Daisy Putnam, for Portland,
POINT REYES, Nov. 22. Passed at
noon, steamer Col. E. L.. Drake, from Portland.
customers informed on the present
status of aeourittes purchased through
its offices.
A dividend of 3 per cent on the
SAN PEDRO. Nev. 22. Arrived at 1
P. M., steamer Tiverton, from the Colum
bia river. Arrived yesterday, steamers
Flavel snd Claremont, from the Columbia
river. Arrived yesterday, steamer Cone
wago. from Grays Harbor via Astoria, for
the United Kingdom.
SEATTLE, Wash., Nov. 23. Arrived
Steamers City of Seattle, Admiral Nichol
son. Santa Ana, from southeast Alaska;
Wairuna, from Sydney, N. S. W. ; Phyllis,
from San Pedro; Wallingford, from Hono
lulu. Sailed Steamers Admiral Dewey,
for San Diego ; Admiral Nicholson for
southeast Alaska.
ing indebtedness tnat soon tans aue.
Definite information as to the method
to be adopted is expected upon the re
turn of Governor Calkins from the
Washington conference.
The recent stimulus of war savings common caDltal stock of the Atlas
securities has helped out . the situa- Powder company has been declared
tion very materially. Mr. onnui payanie Wednesday, December 10, to
U. S. Xaval Radio Reports.
(All positions reported at 8 P. M. yester
day unless otherwise indicated.)
ATLAS, towing barge 93, Point "Wells
for Richmond, 500 miles from Richmond.
C. A. SMITH. Marshfield for San Fran
cisco, i3 miles south of Coos Bay.
WAPAMA, San Francisco for Seattle. 205
miles south of Cape Flattery.
CATHERINE K, San Francisco for Vic
toria, 90 miles north of Cape Blanco.
CORDELIA, Port San Luis for Vancou
ver,. iiS;! miles from Vancouver.
JACOX. Honolulu for San Francisco,
120m miles west of San Francisco at 8
P. M., November 'S2.
WEST KEENE, Manila for San Fran
cisco, 1559 miles west of San Francisco at
8 P. M., November 22.
SANTA RITA, towlnr barge W. J.
Pierre, Tacoma for San Francisco, 514
miles north of San Francisco.
GOVERNOR, San Francisco for Seattle.
24 miles north of Cape Arago.
D. G. SCOFIELD. San Pedro for Seattle,
110 miles from Seattle.
EFFINGHAM. Seattle for Portland. TO
miles north of the Columbia river light
ship. BELL BROOK, Portland for England,
292 miles south by east ot the Columbia
river lightship. -
JOHANNA SMITH, Coos Bay for San
Francisco, 92 miles from San Francisco.
Willamette, St. Helens for San Fran
cisco. 210 miles north of San Francisco.
ASUNCION, Eureka ror El Segundo, 220
miles north of El Segundo.
ALLIANCE. San Francisco for Maxat
lan, off Point Concepclon.
MULTNOMAH, San Francisco for San
Pedro, 95 miles south of San Francisco.
DILLWVN. San Pedro for Richmond, 260
miles from Richmond.
CITY OF SEATTLE, Alaska for Seattle.
30 miles from Seattle.
PHVLLIS, San Francisco for Seattle. 25
mil from Seattle.
DEUEL, Seattle for Tokohama, 954
mi lea from Flattery.
DB VOLENTE. San Pedro for Singa
pore. 745 miles west of San Pedro at 8
P. M., November 22.
PKARL SHELL San Pedro foi San
Franelnco, SOS miles north of Satt Pedro.
EL S EG UN DO. Tampico for San Fran
cisco. IIS miles south of San Francisco.
BARGE 11. in tow Standsrd No. 2. Et
Sepundo for Richmond, S4 miles south of
Richmond.
ENTERPRISE, San Francisco tor Ililo,
UOr mi I? of San Francisco.
CHIC I'M ICO. Seattle for Balboa, 50 miles
north of San Francisco.
CHANSLOR. Portland for San Pedro.
20ii miles from the Columbia river bar.
l.A RRBA. Vancouver for Port San Luis,
230 miles from Port San Luis.
U. s. S. IRIS, five miles north of Point
Sur.
JOAN OF ARC, San Francisco for San
Dieao. 1O0 miiss south of San Francisco.
PRESIDENT, Seattle for San Francisco,
ten miles north of San Francljce.
RICHMOND, towing barge 05. Richmond
for San Pedro. 100 miles south of San
Francisco.
AVAL AON. San Francisco for San
Pedro. r. miles south of San Francisco. -
ECUADOR. HP.l miles from San Fran
cisco at R P. M.. November 21.
LOS ANGELES, San Pedro for Antofa
gasta. sailed at 8:21 P. M.
EFFINGHAM, passed Cape Flattery,
outbound.
SANTA INEZ. Seattle for San Francisco,
64 miles from Port Townsend.
Notice to Mariners.
Csptain J. N. Ross, of the American
steamer Archer, reports that on October
24. 1910. longitude 122:fi7, while passing
Agincourt island, off the north end of
Formosa, he distinctly observed a subma
rine volcano in action. Dense volumes of
smoke was coming up out of the water.
GEORGE E. GANDY.
Nautical Expert.
pressed satisfaction with the response
that has been made by investors in
Ore a-on In this form of investment
and especially with the effective edu
cational work done in the cause of
thrift.
The Portland Association of Credit
Men will hold its monthly meeting at
the Benson hotel tonight, having ad
vanced the date one day in order to
obtain the presence of Dr. W. T. Mc-
Elveen, pastor of the First Congrega
tional. "Vhat Would Roosevelt .Do
in Shaping America's Course at Pres
ent" will be the topic on which the
address will be made, and it is ex
pected the capacity of the big dining
room will be required to accommodate
the attendance.
In the membership campaign of the
credit men. 75 new members have
been added to the roster and these
will be introduced tonight in a mem
bership rollcall for the first time.
These additions bring the total mem
bership to 325 strong, and it is the
aim of the membership committee to
increase this to 350 by the end of the
year.
Proof of the desirability of govern
ment and municipal bonds is indicated
by the purchase of two issues of these
securities by Morris Brothers. Inc.
This includes an issue of $250,000
province of Saskatchewan 4 per cent
geld bonds, due July 15, 1923, which
are offered at 92.87 to yield the in
vestor 6.25 per cent; an issue of $25,-
000 city of Medicine Hat, Alberta, 5
per cent gold bonds, maturing as fol
lows: $12,000 June 1. 1943, and $13,000
June 1, 1944. The bonds falling due
in 1943 are offered at S4.57 to yield
6.25 per cent to the investor, and
those maturing in 1944 at 84.29 to
yield the same rate. Canadian bonds
give investors an unusually high in
terest return on account of the fact
that the price of the British pound
sterling is considerably below par and
inasmuch as these bonds are payable
in gold coin of the United States, both
stockholders of record at the close of
business on Saturday, November 29.
Adoption of a plan by which each
employe is Insured for $1500 and each
officer of the institution for $3000,
by the United States National bank
is & further application of the prln
ciple of welfare work and profit
sharing. Policies were delivered to
the members of the staff the past
week, the Insurance dating from
October 1. The value of the policies
was illustrated to the employes in
a striking manner when a junior em
ploye was killed in an automobile
accident before the delivery of the
policies.
The Paciflo International Livestock
association brought a large number
of bankers of the Pacific northwest
states to Portland during the past
week. The banker is more closely
Identified with the livestock industry
than many people realize. It is to
the banker that the average breeder
first confides his desire to add thor
oughbred animals to his herd and fre
quently it ia with hesitancy that he
unfolds the ambition o buy the best
obtainable of the particular breed in
which he fs Interested. Throughout
the range sections of Oregon, wash
ington and Idaho, stockmen feel tha
the progressive business men at the
heads of the banks are their bes
friends and understand their need:
better than any other class not ac
tlvely in the livestock Industry. The
dinner at which visiting bankers were
guests was one of the pleasant social
features of the week.
.
Kotir issues of general obligation
'roblcms Affecting West Seaboard
to Be Discussed; Freight
Handling on Programme.
SAN DIEQO. Cal., Nov. 23. Prob
lems affecting all ports of the Pa
cific seaboard are to be discussed at
the sixth annual convention of the
Pacific Coast association of Port
Authorities in this ctiy Trans-Continental
week, December 1 to 5, in
clusive. Among the subjects an
nounced for discussion are:
Free ports and their relation to
the Pacific coast.
Uniformity of port charges.
Making Manila the base of oriental
trade operations.
Freight handling devices.
It is announced that delegates will
attend from every Pacific port city
and In addition to the delegates many
of the most prominent shipping men
In the country have written they will
attend.
Among those who will speak on
trans-Pacific trade will be William
Sproule, president Pacific Coast Re
gional railway; Paul Shoup, presi
dent Southern Pacifio railway: G. F.
Nicholson, harbor engineer, Seattle,
and G. B. Hegardt, harbor engineer,
Portland, Or.
Assistant Attorney-General Rich
ards Reaches Los Angeles to Be
gin Investigation of Business.
LOS ANGELES, Cal.. Nov. 23 An
investigation into the oil situation on
the Pacific coast will be conducted
by the government, according to in
formation made public today follow
Ing the arrival here yesterday from
Washington, D. C. of C. C. Richards,
special assistant to Attorney-General
Palmer. Mr. Richards came west to
ascertain if there were any violations
In this section of the countryof the
Sherman anti-trust law.
"Complaints have been made to the
federal authorities in Washington as
to the alleged intolerable conditions
in the Puget sound district where the
price of crude oil has been increased
from 70 and 7? cents to $1.85 a barrel,'
said Mr. Richards. "There also have
been a number of complaints from
Los Angeles, San Francisco and other
Pacific ports.
"Practically all of the oil producing
companies operating in California will
be Investigated.
"When Secretary of the Navy Dan
iels advertised recently for 14,000,000
barrels of crude oil for the navy,
there were a number of bids, but
the figures were the same.
"Nobody Is going to be threatened
but we are going to learn what rea
son there is. if any, why the increase
in price should, in the lat analysis,
be passed on to the ultimate consumer."
IAILY METEOROLOGICAL REPORT.
PORTLAND, Nor. 23 Maximum tem
perature. 55 degrees: minimum, BB degrees.
River reading at 8 A. M.. 3.6 feet: chane
in last 24 hours, 0.1 foot rise. Total rain
fall (3 P. M. to 5 P. M.). trace; total
rainfall since September I, lftis. 0.S1
inches; normal rainfall sines September 1,
10.39 Inch?: exoees of rainfall since Sep
tember 1, 1917, l.ul Inches. Sunrise. 7:23
A M. ; sunset, 4:33 P. M. ; total sunshine,
5 hours; possible sunshine, 9 hours and 12
minutes. Moonrise, 8 :U3 A. M. ; moonset,
3:13 P. M. Barometer rsduced to sea
level) 5 P. M., 30.17 Inches. Relative hu
midity: s A. M., JOu per cent; noon, S8
per cent; S P. M-. 88 per cent
THE WKATHBR.
Teton County, Ida:
5V2Roa.d and Bridge Bonds
DENOMINATION $1000
These bonds were roted by ttro-thirds of the qualified elertors
of Teton County, Idaho. They are general obligation bonds, all of
the county's taxable wealth, property and resources being pledged
to pay interest and principal as they come due.
SUGAR CARRIER JOBS LET
Two Vessels to Be Put on San Fran
cisco-Honolulu Run.
SAN FRANCISCO. Nov! 23. Con
tracts have been let lor the construc
tion of two freight steamers to cost
approximately JI.EOO.OOO each for use
in carrying: sugar from Honolulu to
San Francisco, it was announced to
day by the Mation Navigation com
pany.
These vessels will each have a car
rying capacity of 14,000 tons of sugar
and are to be completed by January,
1921. in time to handle part of the
sugar crop that year, it was stated.
They are to be built at the Moore
shipbuilding plant.
A passenger liner-also will be built,
company officials said, planned to ac
commodate 750 first-cabin passengers
and to make the run to Honolulu in
4 days. Its cost, they said, would
be In the neighborhood of J.fifM.nH
STATIONS.
3 Win
K .
Z 0
0 Z Q 9
em ft a
?5 5
;
p
M
fa-
Baker
Botse
Boston . . . .
Ca.gary
Chicago
Denver . . . .
Pes Moines..
Eureka
GalveHton . .
Helena
t Juneau . . . .
Kansas City.
Los Angeles.
Marwhfleid ..
Med ford
Minneapolis..
New Orleans.
New York.. . .
North Head.
Taklma ....
Phoenix
Pocatello .
Portland . . .
Rofeburg . . -
Sacramento .
Luis.. . .
Salt Lake . .
fan Diego . -San
Fran. . .
Seattle
Sitka
Spokane
Tacoma
Tatoonh
tvaldex .
Walla Walla.
Washington .
Winnipeg ...i
26 4rt'0.no. .1st:
4S 0.0(1 . .tNW
51i 0.00 10'SW
3S 11.00 IS W
4rt 0.00'lO!NW
6S 0.OO!. ,,SE7
MlU.DOl. .'N
51: 0.00 16 N
70 0.00 . .IS
BHO.D0
30,:ih 0.041
Pt. cloudy
ciouay
Clear
Clear
Clear
Clear
Clear
Cloudy
Clear
Pt. cloudy
t-iear
Clear
Pt. cloudy
ciouay
Cloudy
sw
w
6 0.001. .IN
74 0.00 . . SW
3ti 0.00i. .SW
50 O.OOl. .IN
4J 0.00;i2 NW!CIear
TO, 0.00!. . NWiClear
ft0,0.0014;W Clear
SOO.Ov 12'W (Clear
-JiO.OOiSO N W.Clear
To 0!j. . INE Cloudy
oa o.oo. .sw Pt. cloudy
6. u.ou . .: ciouay
Mi'0 . 00 . . N WICloud v
4 o.oo;. .w pt. cloudy
6 ' 0.0010 NW
SO 0.00! . . SK
72 0.1410:NW
6K U.OOl. .W
an o.oi izuisw
3S 0.S01. .1
5rt 0.OOI. SW
54 0.0414 SW
50 0.tkV26:W
20'22 O.OOl. .IN
4J 0iO.00jI2BW
54.0O . . S w
00
28
34
4i
41
Clear
Clear
Clear
Clear
Cloudy
Cloudy
Cloudy
it. ciouay
Pt. cloudy
Clear
Pt. cloudy
Cloudy
24i0.00. .'NWiClear
tA. M. today. P. M. report preceding- day.
FORECASTS.
Portland and vicinity fair; southwest
erly winds.
Oreg-on Fair; moderate southwesterly
winds.
Washing-ton Fair; fresh to strong- south
westerly winds.
Idaho Fair; strong southerly winds.
EDWARD L. W ELLS, Meteorologist.
-TWO DOZEN-
Blanchard Evaporated
FRESH EGGS $1.15
Auk Voir Gnywr
Hacelweod Company. Distributers
Portlaad, Oregon
S'! ) - I AW-.
8:-: ; i
rr i
tL fr . a f. 2 rt a . ....
Tides at Astoria Monday.
High. Low.
M 7.4 feet 7TT.7 A. M 3.8 feet
M 9.0 feet8:S5 P. M 0.0 foot
2:0T A.
1:19 P.
Colombia River Bar Report.
NORTH HEAD. Nov. 23. Condition of
the bar at 5 P. M. : Sea. moderate; wind,
west, 12 miles.
Kx-Soldiers Welcumcd Home.
ROSEBURG, Or., Nov. 23. (Spe
cial.) At South er Creek prang e
hall Saturday nlsrht a reception was
tendered to tha returned soldiers of
the community. Supper was served
at S o'clock to 160 guests. It was
The steam schooner Shasta from Saa followed by a programme and danca.
Invest Don't
Speculate
THE one is the con
servative the
other the extreme
in handling surplus
funds. Investment in
Government, Munici-
pal and Corporation
Bonds returns a rea
sonable Interest on
your money. Specu
lation usually reaps a
. harvest of regrets.
Consul t a t i o n is al
ways invited by Clark,
Kendall & Co., Inc.
and without obligation.
gCLARK.KELULL &C0i
Diversify Your Investments .
As to General Description
Because of their exemption from all federal income taxes municipal bonds are
eagerly competed for, making the average price higher and the interest yield
lower than corporation notes and bonds or foreign government bonds having equal or
greater security and safety behind them, but subject to income taxation. Preferred
stocks occupy intermediate ground, being exempt from normal federal income taxes.
Tax exempt municipals appeal especially to investors who are subject to surtaxes.
It is not so necessary for other investors to concentrate on municipal bonds. They
should place some of their capital in municipal bonds, some in the bonds of this or for
eign governments, and some in corporation notes, bonds and preferred stocks. Instead
of going to any extreme the investor should follow a conservative middle course.
Investment suggestions, diversified as to general description:
1930
Name of Issue Maturity
Walla Walla County, Washington, 5s .' 1939
(Debt of this banner wheat county only $211,000; assessed Optional 1924
value $32,139,717; actual value 65,000,000.)
Port of Newport, Oregon, 5s 1929-1943
(Direct obligation of 270,000 acres, including town of Newport,
productive agricultural area and one of finest bodies of timber
m state.)
Pacific Power & Light Company 5s.
(Company supplies electric light and power service practically
without competition in 65 cities, towns and prosperous com
munities of Oregon, and Washington.)
A. G. Spalding & Bros. 7 Preferred Stock
(Business established in 1876; total net assets, $270 per share;
no funded debt.)
U. K. of Great Britain and Ireland 5iAs
(Direct obligation of government; conversion privilege of great
-value.)
Government of Province of Alberta 4s.
(General obligation of province having area of 161,872,000
acres and 550,000 population.;
Price to
Yield
4.70
5.20
6.30 f0
7.00
1922
1922
(In American
dollars)
6.75
(In Canadian
funds)
Our circular listing 59 diversified investments may be had upon request.
Trus1
L
umbermerxs
B o rd s -Trusts - Acce ptarvce s
Capital & Surplus Sboo.ooo
Lumbermens Bld.
Porlard, Oreqor.
Sr Francisco
Sea.-H-
1,000
10.000
10.000
10.000
10.000
10.000
10.000
io.ooo
10.000
10.000
Teton
Teton
Teton
Teton
Teton
Teton
Teton
Teton
Teton
Teton
County,
County,
County.
County,
County
County,
County,
County,
County,
County.
Ida., Road
Ida., Road
Ida., Road
Ida., Road
Ida.. Road
Ida.. Road
Ida.. Road
Ida.. Road
Ida., Road
Ida., Road
and
and
and
and
and
and
and
and
and
and
Bridge.
Kridi?e .
Bridge.
Bridpe.
Brldse.
Bridge .
Bridge.
Bridpe.
Brtdse.
Bridge.
5U JJ 1SI9 103.90
5' J&J 1930 104.19
S'i JJ 1S31 104.47
5'- J&J 1S32 104.74
5 JiJ 1933 104.99
5Vi J&S 1934 105.23
61, JJ 193& 106.46
SU J&J 1938 105.68
Si J4J 19S7 105.79
61, J&J 193S 105.90
LIBERTY and VICTORY BONDS
If Too Must rn.L Tear Ubertr or Vlctnrr RaaU. Sell ta 19.
If lea Cu Hl'V Mere Liberty or Victory Bond. Buy From tS.
On baturaay. November US. Jia, the tlomnj New Tork market pric for
liberty and victory bonda were a ;vn bIor. They are the covernlnt prtcea
for Lnlted States government liberty and victory bonds all over the world, and
the hiKhent. We advertise these brlces daily in order that you may alwav. know
the New York market and the exact value of your liberty and victory bonds:
1" !!d 1st 2d Sd 4th Victory victory
, Ha 4S 44S H ' 4,s ss 4
Market ..$100.04 J94.X JUJ.IO a;.70 t4.24 I9J.S4 $ 0 24 JUH 14
Interest . 1.55 1.77 .10 1.8S .11 .82 .4 l.2 2.43
Total 1101. r.9 (U6.13 1U2.B0 S1I6.SS M.Sl fO.VOS !1.00 101 1 tlOl 7
"When buying;, we deduct fcTe on a S00 bond and fu.SO on a $1000 boad.
" setl at the New Tork market plus me acoruea interest.
Burglar and fireproof safe deposit bozea for real. Open until r. M. Saturday.
MORRIS BROTHERS. INC.
The fresnler Alualdpal Hood House Capital Use Million Uollara
Morris Building, S0-S11 btark Street. Between 5th and Bth.
Telephone Broadway 1131. Established Over tS Tears.
Il
The Bank of California
National Association
Founded in 1864
HEAD OFFICE: SAN FRAXClSCO
Branches at
PORTLAND, SEATTLE and TACOMA
Conduct a general banking biss.
We Carry Checking and Savings Accounts
Buy and Sell Foreign and Domestic Drafts and
Cable Transfers
Issue Commercial and Travelers' Letters of
Credit and- Travelers Checks for Use
Throughout the World
Pay Interest on Time and Savings Deposits
Capital, Surplus and Undivided Profits, $17,000,000
PORTLAND BRANCH
Third and Stark Streets
lit!.
W. A. MACRAE,
Manager
J. T. BURTCHAELL,
Asst. Manager-
Short Term Bonds Zyz Years
of the
Province of Saskatchewan
Three and one-half years due July. 1. 1913.
annual interest payable in New York City without deduction
Principal and Herni
ation
Full
for any Canadian taxes. Direct general tax; obligation.
oetaiia iurmsmea on request, uau or pnone.
4 bonds at price to yield 64
Wtr. eraers eellect.
yitTtTa
POITVAH eU PlAHCTVC
Freeman Smith & Camp Co.
SECOND FLOOR
NORTHWESTERN BANK BU1LDIN3
Main 64S
GOVERNMENT, CORPORATION AND MUNICIPAL
BONDS
TO NET FROM 57" TO 7
PREFERRED STOCKS LOCAL SECURITIES
ROBERTSON & EWING
207-8 NORTHWESTERN BANK BLDG.
MUNICIPAL BONDS
From the State of
OREGON WASHINGTON ID AH0
To Net 4.90 to 6.50
'Exempt From Present Income Tax
E L Devereaux &(ompany
87 Sixth Street Broadway 1042
. Ground Floor Wells-Fargo Building
SAFETY
BONDS SECURITIES
Does Your Money Sleep?
p) 0. W. T. Muellhaupt & Co.
"The Income Producers"
will increase your earnings.
Suite 407-409 U. S. Nat'I Bank Bldg.
Tel. Broadway 3838