TTIE MORNING OREGOXIAX, MONDAY, DECEMBER 8. 1919.
17
TRANS
-OCEAN RATE
ON SAMPLES HALVED
Pacifi
Boon
c Steamship Action
to Portland Exporters.
BIG SHIPMENTS BOOKED
6000 Bales of Cotton and 10,000
Sacks of Flour Will Be Shipped
on Steamer Montague
The minimum freight rate for the
hipment of samples across the Pa
cific ocean has been cut in half, H
was announced yesterday by R. W.
Bruce, manager of the foreign freight
department, of the Pacific Steamship
company's Portland offices. The for
mer rate of $5 as a minimum charge
for each bill of lading has been re
duced to $2.50 for packages weighing
&0 pounds or- less and measuring not
mere than two cubic feet. This rate
is effective from Portland and Seattle
to all ports in China, Japan and the
Philippines.
In conjunction with a similar action
by the European-Pacific line, repre
sented here by the Columbia-Pacific
Shipping- company, this reduction in
the tariff on samples offers a unique
opportunity for Portland exporters to
place their commodities in the mar
Vets of the world. The European
Pacific line announced Saturday the
elimination of the minimum charge of
$10, and the acceptance of sample for
shipment at a rate per 100 pounds
making possible a reduction in the
cost of shipment of $7.50 or more on
each package shipped as a sample.
The European-Pacific line serves all
ports of continental Europe, the Unit
ed Kingdom and Scandinavia, and the
Pacific Steamship company all ports
of the orient, each of these services
consisting of shipments direct from
Portland to the port of destination.
Food Product to Be Shipped.
The shipment of a large quantity
of samples of Oregon food products
Is expected on the steamer Montague,
the next of the Admiral line vessels
to the orient, which will start load
ing tomorrow morning. Practically a
full cargo already has been booked
for this vessel, but room can be found,
according to R, W. Bruce, for as many
sample shipments as are offered, as
the steamship company is as eager as
the exporters to increase the com
merce between Portland and the far
east.
Th steamer Coaxet of the Admiral
line's oriental fleet left down from
the oil docks at 1 o'clock yester
day afternoon loaded to her plimsoll
marks on her second trip over the
astern route.
Cotton rarco Booked.
Tho cartfo alreudy booked for the
Montague consists of 8000 bales of
Texas cotton more than three times
as much cotton as was carried by the
Coaxet as well as 10,000 sacks of
flour, quantities of steel, tin plate,
galvanized iron sheets, a large ship
ment of Hood River apples and sev
eral hundred cases of loganberry
Juice. The apples are given special
stowage and ventilation, but no re
frigeration, and are delivered in per
fect condition in the orient, where
thev find a ready market. The
oriental taste for loganberry juice is
also growing stronger, to judge from
the increasing amounts of this prod
uct carried by the freighters to the
far east.
MOI.ASSKS TANKS CHBISTKNKD
Cargo From Falls of Clyde Keacl.es
Municipal Terminal.
The new steel storage tanks at the
St. Johns municipal terminal received
their christening yesterday morning
when a connection was made with the
tanks of the molasses carrier Falls of
Clvde and the warm, sweet, sticky
fluid splashed into the first of the
reservoirs. The tank had previously
been tested with water and found to
be free from leaks. The pumps
worked perfectly and carried mo
lasses from the ship to the tank at
the rate of 300 barrels per hour. By
the time the first tank is filled the
econd Is expected to be ready.
The Falls of Clyde, a four-masted
bark whose hold consists of six tanks
for carrying fluids in bulk, arrived at
the terminal last Tuesday from Hono
lulu with the first cargo of bulk mo
lasses ever received here.
aeroAs tho Pacific tomorrow morning- Thi I
vessel will have a. lull cargo of general
mere band lee, steel, lumber and wood pulp.
Bound for Hamburg. Rotterdam and
Cardiff the steamship West Aleta of the
shipping board's EuroDean-Pacif ie line is
, expected to sail from Seattle December 15.
ine vessel is discharging a cargo of coal
at the naval station at Puget sound and
will come to Seattle next Thursday tB be
gin loading for the United Kingdom and
continental Europe. W. C. Dawson & Co.,
are Puget sound agents for the service.
Bound Tof Vladivostok the steamship
Osaquamsick of the United States shipping
board, left Seattle at 8 o'clock this morn
ing with a cargo of railway material for
the Russian mission of ways and com
munication and a consignment of Red Cross
supplies. The vessel loaded part or her
cargo in San Francisco before coming to
this port,
PORT TOWNSEND, Wash.. Dec. 7.
The United States shipping board steamer
"West I vis completed a successful loaded
test today and sailed for ports In the
orient with general cargo and a deckload
ot lumber.
When the shipping board steamer
Clodia sails for Nipe. Cuba, next week
she will carry 1,300,000 feet of lumber of
which 900,000 feet will be Alaska spruce,
the product of the northern camp operated
during the war to get out aeroplane ma
terial. The lumber was brought from
Alaska on barges from which it is being
loaded on the Clodia at Ballard.
The Eastern Knight a Japanese-built
steamer of the United States' shipping
board, is en route from Kobe to Puget
sound with general cargo. She is being
operated by the Osaka Shoshen Kaisha
Co. Upon arriving at Seattle and after
discharging1 she will be surveyed and
turned over to the shipping board who will
change from a coal to an oil burner.
The steamer Glyndon. which recently
brought 100,000 cases of canned pineapples
from Honolulu to Seattle in the service of
the Mats on Navigation company, has been
sold by the shipping board to an eastern
firm. She will load lumber on Puget
sound for Cuba. After discharging she
will remain on the Atlantic. During the
past few months, the Glyndon has been
operated in the triangular service from
Puget sound to Honolulu and San Fran
cisco. The cargo of the steamer "West Aleta
when she sails for Europe will consist of
50,000 cases of salmon. The West Aleta
is discharging coal from the Atlantic at
the Puget sound navy-yard. After finish
ing she wilt shift to Seattle to load the
salmon. The salmon will be delivered
either at Rotterdam or Hamburg. She Is
operated by Williams, Dimond St, Co.. of
San Francisco.
COOS BAT, Or., Dec. 7. (Special.)
The tide of 10 feet. 7 Inches today did no
damage so far reported. Observations
made in Marshfield revealed nothing ex
traordinary about it, save the fact that
considerable of the lower land In the
vicinity of Coal Bank Inlet was flooded
three to four feet.
The gasoline schooner Tramp entered
the harbor last night from Rogue river,
coming for general freight for the mercan
tile companies at Wedderburn and Gold
Beach.
Laden with 1.500.000 feet of lumber from
the Smith electric dock, the steamer Jo
hanna Smith, which had been in port but
one day, departed for San Francisco and
bay points this forenoon at 1 1 :13.
The steamship Curacao arrived from
Portland with freight and passengers at
2:30 this afternoon, and will be prevented
from sailing on to Eureka and San Fran
cisco tonight because of the swift ebb
tide carrying away the flood of today.
The Curacao may remain In port until
Monday forenoon.
SAN FRANCISCO. Dec. 7. (Special..
Captain John H. Darlern, ex-commander
of the schooner Repeat with officers of
his ship, arrived here today from Nou
mea, as passengers on the British steamer
Tofua.
The Repeat left here May 23 bound for
the Tonga inlands. The vessel was caught
In a typhoon and Captain Darlern and
several of his men received injuries in
the storm which forced them to return
home. The vessel will return here In
command of two French officers.
The British steamer Tofua. Captain
Hugh H. Williams, arrived here today
from Wellington via Raratonga and Pa
peete with a fair liBt of passengers and
L'34 tons of freight. Heavy weather was
encountered during most of the trip, ac
cording to the ship's officers. A num
ber of the passengers were English sea
captains who served in the British navy
during the war and are now returning
home to England.
The British bark Raupo, Captain Rob
ert Kennedy, arrived here from Vavau to
day with copra and reported the worst
weather ever encountered on a voyage
north from that port.
Last Wednesday the Raupo, was off the
San Francisco lightship but was driven
offshore by the southeast gales and was
unable to make the offing until last
night. The bark Manurewa is expected to
arrive here with a cargo of copra from
the Tonga islands shortly, according to
Captain Kennedy.
Two hulls, built for the account of the
United States shipping board, were
launched at Eureka yesterday. The hulls
will be towed here where exigines will be
installed.
ASTORIA, Or., Dec. 7.- (Special.)
With a cargo of lumber from St. Helens
the steam schooner Willamette sailed at
8 this morning for San Pedro via San
Francisco. 1
The lumber laden steamer Brookwood
arrived at 9:".0 this morning from Grays
Harbor and proceeded to Portland to take
on hunker coal.
Wit h lumber from Knappton and the
Hammond mill, the steam schooner San
tiam Bailed at 12:15 today for San Pedro.
The steamer Olockson, carrying cargo
from Portland, sailed at 6 tonight on her
12-hour trial run at ea.
The steamer Rose City arrived at 3:40
thi afternoon from San Francisco with
freight and passengers lor Astoria ana
Portland.
POLLARD DISPOSES OF LVCY
Scliooncr Is Sold to Copra Trading
Firm at Tahiti.
The sale of the schooner Lucy by
A. J. Pollard to a copra trading firm
at Tahiti is announced in dispatches
from San Francisco. The Lucy is a
three-masted schooner of 294 net ton
age, built in 1890 at Fairhaven, Cal.
She is now on her way to New Zea
land with a cargo of lumber loaded
at Portland. She sailed from here
November 21. She put in at San Pedro
a few days ago. but the reason for
her stop there has not been reported.
The Lucy has been a frequent visi
tor here, bringing copra from the
south Pacific and carrying lumber
from the Columbia ri'er as outward
cargo. It is understood she is to be
used henceforth in inter-island trade.
BVLLDOG TO MAKE SEA T1UP
Steamer Off for Orient Has Ad
miral Chappie as Mascot.
"When the Admiral line steamer
Coaxet left down yesterday afternoon
for the Orient she carried as mascot
no less a character than Admiral
Chappie, the official bulldog of the
Admiral line and personal companion
of Frank O'Coruior. agent of the com
pany. When questioned as to his rea
son for sending the pup on a sea voy
age. O'Connor admitted that the fact
that Chappie was getting rough with
the baby had something to do with It,
but insisted that the main object of
the move was the dog s education
Movements of Vessels.
PORTLAND. Dec. 7. Sailed at 8 A. M.,
steamer Olockson. for Balboa and New
York; at 1 P. M., steamer Mayfair. for
San Francisco via Wauna; at 3 P. M..
steamer Celtlo. for San Francisco and Los
Angeles via St. Helens: steamer Coaxet,
for oriental ports. Arrived at 8 P. M.,
steamer Brookwood, from Grays Harbor.
ASTORIA. Dec. 7. Arrived at 6 and left
up at 8 A. M-, steamer Brookwood, from
Grays Harbor. Sailed at 8 A. M., steamer
Willamette, for San Francisco. Arrived,
steamer Rose City, from San Francisco.
SAtf FRANCISCO. Dec. 7. Arrived
Steamer Oleum, from Portland.
PORT SAN LUIS. Dec. 6. Sailed
Steamer Washtenaw, for Portland.
SEATTLE. "Wash.. Dec. 7. Arrived
Steamers Admiral Schley, from San Diego:
YoeemUe, from San Francisco ; Joan of
Arc, from Callao; Bktn. Thrasher, from
San Francisco.
Sailed Steamers Admiral Dewey, for
San Diego: Ossaqumslek, for Vladivostok.
TACOMA. Wash., Dec. 7. Arrived
Steamers Chllliwack, from Granby, B. C;
Admiral Schley, from San Francisco.
Sailed Steamer Northwestern, for Cor
dova, via Seattle.
Tides at Astoria Monday.
High. Low.
A. M... 8.1 feet'7:17 A. M... R.l feet
P. M...10.6 feet;8:13 P. M...-L4 feet
EXCESSIVE BUYING
BLAMED FOR PRICES
Vast Speculation in Mercan
tile Circles Is Factor.
PROCESS HARD TO XURB
Economical Purchases Xecessarj
on Part of Individuals to Re
dace Level of Costa.
1 :31
0:07
Port Calendar.
Offshore Vessels to Arrive.
Name. From Date
Chaiiamba. Br. M. S.Seattle ......Dec. 10
Irene. Am. M. S San Franciseo.Dec. 20
West Aleta. Am. Str Puset Sound. . Dec. 22
West Hart'd. Am. St.Sintapore ....Jan. 1
Mont Cervlu. Fr. St. . Marseilles ...Jan. 1
Coastwise Vessels to Arrive.
Daisy Mathews San Franciseo.Dec. 9
Wahkeena San Franciseo.Dec 9
After he sees what 1, , going on in j "en. . . . . . San aciSco.Dec; 10
the Orient and learns the company's
Business." said O'Connor, "I'm groins
to take him into the office here and
give him a good position."
Pacific Coast Shipping; Xolcs.
SEATTLE. Wash., Dec. T. fSpecial.i
First of the .mail steel ship, built on this
coast to be sold by the hipping' board to
rivals Int. rests was the 3S04)-ton steam
ship Glyndon, which was purchased yes
terday by Atlantic coast Interests. As a
result, she will be withdrawn from the
triangular Festtle-Honolulu-San Francisco
service in which she has been operated by
the Matstin NaviEation company for the
shipping- board since last spring.
The Ulyndon Is now in Seattie discharg
ing a full cargo of canned pineapple from
the Hawaiian Islands. She Is one of a
number of 3800-ton steel carriers built for
the shipping board by the Alblna Engine
& Machine works of Portland. Or. Tbree
of the vessels have been operating In the
triangular service.
The steamship Iconlum of the Pacific
Steamship company's shipping board fleet.
Is discharging oriental freight at the Smith
Cove terminal of the port commission and
will bttgia o&diog ior her na&t voage
"Washtenaw Pt. San L.uis. . rj.c- 1 1
City of Topeka ..,.S F. and way.rec. V2
K. H. Meyer San Francisco. Iec.
Wapama Sau Franciseo.Dec, 13
To Depart From This Port.
Mendora ........... United Kingd. Dec 10
Centaurus West Coast Dec. 9
Montague Orient Dec, 3
Vessels in Port.
Else, Balfour, Guthrie : Co.. Inman
Poulsea mill.
leca, 'A. F. Thane A Co.. Eastern A
Western mill.
Celllo. C. R. McCormlck, St. .Helens.
Siletz. Pacific Steamship company, mu
nicipal dock No. 1.
Mendora. Columbia-Pacific Shipping
company, j. v aocK.
Diablo. Pacific Steamshif company. Pa
cific Marine Iron works.
Falls of Clyde. Parrott & Cx. Bt. Johns
terminal.
Multnomah, C. R. McCormick, drydock.
Diana. Columbia-Pacific Shipping com
pany, municipal dock rsio. 1.
Montague. Pacific Steamship company,
municipal dock No. 1.
Mayfair, Charles Nelson A Co.. Wauna.
Nishmaha, Pacific Steamship company.
xorm sanK oock
Kose City, San Francisco Portland
t Suamshig ianutanrt Ju&aworla Oouh,
Those who speak with authority on
industrial, financial and economical
problems are seriously asktog
whether It may require economic de
pression to straighten out the here
sies of the times. This suggestion
was contained in the Bache Review
for November 17. but put aside with
the expression that "a distinct ad
vance was made," in the speedy ter
mination of the coal strike by the
government. The same authority
holds that curbing of speculation in
the NewYork stock market by ac
tion of the federal reserve board
was but dealing with one feature of
the speculative evil, and says:
In mercantile circles there is pro
ceeding at the present time a vast
amount of speculation on a very
large scale in commodities. An in
stance is cited of one concern that
is carrying S15.000.000 worth of vege
table oils which are in great demand.
and .the concern is holding; for higher
prices. This is a distinct damage to
the consumers and keeps living;
prices in these things, used daily, at
top and increasing levels. Speculation
of this kind is a real detriment to the
community.
Speculator Hard to Cnrb.
The amount of money required to
carry that part of the cotton crop
wnich is speculatively held through
out the country, say 5.000.000 bales,
would be around 1750,000.000, which
is equal to half of the whole amount
of estimated Wall street stock ex
change loan a. This is only one com
modity. But it is difficult to curb
the mercantile speculator. It is
easier to smash Wall streets specula
tion through drastic control of the
money market, and the results in
the release of funds are quick be
cause Wall street is a cash market
and nowhere else in the world can
money be so quickly obtained."
There is a belief rather common in
the lay mind that if the speculators
in various lines of business would
permit things to take their natural
course there would be a tendency to
lower prices of necessities. Just so
long as the people insist on buying
to the limit of their resources at
high prices there will be no great
decline. One of two things seems im
perative if there is to be restoration
of normal conditions, either specula
tion In commodities must be curbed
or the public must be taught to con
serve and cease buying unnecessarily.
Industry in production was never
more essential than now when the
world supply of foodstuffs and goods
is below its requirements.
Gold Export Is Heavy.
Under the influence of the federal
reserve system there is no danger of
a financial panic thought of in con
nection with whatever measures may
be found essential to restore Bound
business and economic conditions
throughout the country. The infla
tion that has been created by war
time financing in which the circula
tion of federal reserve notes issued
against securities rediscounted by
the banks has had a large share, has
practically crowded gold out of circu
lation. Recently the United States
has exported considerable gold, in
fact during the morttn's of June, July,
August and September we exported
$179,942,000 more gold than we im
ported. This is about twice as much as we
have ever exported in a single year
with the single exception of 1914,
when the war panic relieved us of
S165. 000,000 net. But the United
States has an abundance of gold and
to spare. It is said to be the only
really rich nation in the world today,
as a result of the war. But this fact
makes it the more essential that we
discover methods of managing our
own affairs so that our living costs
shall not be bo radically excessive,,
and labor costs so high as to exclude
us from commerce with the rest of
the world.
Foreign exchange has reached new
low levels during the past week,
when the English pound sterling
went down to $3.87, and sold over the
foreign exchange counters of the
banks in this country at $3.90. The
American dollar is the autocrat of
international exchange. But it is
making difficult the sale of American
goods in lands where they are most
needed. France is anxious to trade
with America and to avoid patron
izing German Industry, but rates of
exchange are most unfavorable
against France in dealing with us.
Germany is believed to have exerted
every influence to depress the mark as
a means of attracting foreign trade.
Is there a purpose in the decline of
English pounds and French francs?
Holiday Bojlnp; Heavy.
From throughout the country comes
the report that there has never been
heavier holiday buying than this sea
son, and the trading is just well un
der way. It Is the forecast of mar
ket centers that the Christmas trade
will exceed any previous record. This
is probably due to the fact that for
the first time the prosperity of the
war that was applied to many indus-
rles has been generally distributed
over the country in the high prices
for agricultural products and with
tremendous production or foodstuffs
in a large part of tho country.
While commodity prices advanced
in 1915 and 1916. it was not until 191S
that the farmers realized on higher
prices for their products in a large
measure. Up to that time they were
caught in the maelstrom of up
set conditions witn otner consum
ers and without netting a return on
their crops equivalent to the added
costs piled up against them.
Failure of the coal miners to return
to work, lack of constructive railroad
legislation up to the present that will
permit the return of the railroads to
their owners January 1, with a basis
established for them to survive, and
the impasse in conclusion of the
treaty of peace are some of the mat
ters that are receiving the serious
thought of financiers and bankers
throughout the country. The tem
porary closing of many industries be
cause of the fuel shortage, and dis
continuance of one third of the pas
senger train service on practically
the entire railroad system of the
country, is bound to have a far-reaching
effect upon business. It will
probably not materially change the
volume of seasonal business in the
next two weeks, but it bids fair to
cripple of the whole machinery of the
national business- for a good many
weeks to come before it can be re
stored to normal.
In addition to an issue of $12,000
Adams county. Wash., I per cent road
bonds, which were purchased last
l week th lumbermen's Trust com
pany is offering this week a new Is
sue of $145,000 Adams county bonds,
the proceeds from which are to fi
nance tho Improvement of the Basaett
county road. The bonds are offered
on a 5 per cent yield basis and a large
portion of the Issue will mature within
the coming five years. Adams county
Is situated 0 miles southwest of Spo
kane In the productive wheat section
known as the Big Bend country. The
trust company has Just completed
distribution to investors of $350,000
Skagit county, Washington, road bonds
and has also handled in recent
months bonds issued for the Improve
ment of roads in a number of other
Washington counties, including, Yak
ima. Clarke and Whatcom. At the
present time it is offering the small
unsold portions of recent purchases
of Douglas county, Lincoln county
and Walla Walla county bonds. The
same company also shows on this
week's offering list two new Montana
municipal Issues and several blocks
of Canadian municipals, A block of
$20,000 Columbus Irrigation district,
Stillwater county, Mont,, 6 per cent
bonds is being; offered at par to yield
6 per cent. The lands of this district
have been under cultivation and Ir
rigation for years, only two miles of
new construction being involved in
the present improvement. The bonds
Issued by Musselshell ' county. Mont.,
are for the purpose of constructing
and maintaining a waterworks plant
in a district comprising the town of
Musselshell. These bonds are 6s and
are offered at par. Securities Issued
by the city of Vancouver, B. C, the
city of Regina, Bask., and the city of
New Westminster, B. C. are offered
by the trust company at prices to net
the investor 6.25 per cent, payable in
this country.
C B. Hurtt. of the Hartman A
Thompson bank, who has been In
eastern cities for several months at
tending to some business matters in
volving" land development in which
he is interested, will return to Port
land during the week. He has been
making headquarters in Chicago since
the first of September, with trips to
New Orleans and Washington occupy
ing a part of the time.
C. L. Lamping, manager of the Port
land branch of the Federal reserve
bank, was at Pendleton last Wednes
day to confer with the cashiers of six
state banks in that district, to Inform
them as to the advantages of mem
bership in the federal reserve organ
isation. Representatives of banks at
Milton. Helix, Weston, Stanfield, Echo
and Pilot Rock were present at the
meeting. There are a number of state
banks that are considering affilia
tion with the federal reserve system.
'Efficiency and oourtesy, plus a
smile" this is the slogan adopted by
the newly organized Ladd Bank club,
which is a representation of 146 em
ployes of the Ladd & Tilton bank. The
need of an organization of this kind
has been felt for some time past, and
its purpose will be to Incorporate
into one body all the various activi
ties which are now being carried on
by the bank's staff, such as recrea
tional, educational and social fea
tures. The new club has the full sanction
of the officers and directors of the
bank, who will continue, as in the
past, to lend every assistance In pro
moting. the welfare of Its workers. A
notable' example of this was an ex
penditure recently of $6000 on the
part of the bank which has made it
possible for 60 of its employes to take
a business course In the Alexander
Hamilton institute. The officials of
the Ladd Bank club are as follows:
J. King Bryon, president; Gretchen
Robinson, vice-president; Ernest R.
Allman, treasurer; Cyrus A. Wood
worth, secretary.
Colonel Frederick E. Farnsworth,
for several years general secretary
of the American Bankers' association,
resigned that office to become presi
dent of the Bankers' Statistics corpo
ration. New York. Guy E. Bowerman
of Idaho, who has had an active part
m the association of bankers in the
Gem state, and who organized na
tional banks as Ashton, Lrriggs and
St. Anthony, in that state, has been
selected as the new secretary of the
association by the administrative
committee.
Walter Kendall, president of Clark,
Kendall & Co., has returned after
spending some time visiting corre
spondents in eastern cities. San Fran
cisco. New York. Chicago, Kansas
city ana uenver were visited by the
Portland man on his trip. He is on
timistlc as to the outlook for the
bond market.
ai
The Lumbermen's Trust company
reports an increasing interest in the
purchase of bonds under the install
ment payment plan, which it inausru
rated in Portland several years ago
tor tne oenerit or investors of mod
erate income. After the initial Dav-
ment is made the investor is allowed
a year to complete the purchase, no
special amount being required in any
on montn. meanwniie tne purchaser
receives interest on the installments
which he has paid in, and the Unpaid
balance carries itself as it Is earning-
interest. Because ot tne DODUlarltv
ot the installment payment plan bonds
are issued in smaller denominations
than was customary years ago. Some
of the bonds on the current list of the
Lumbermen's Trust company are in
denominations as low as $50, and
many issues em Brace $100 and $200
denominations. The smaller denoml
nations are especially popular among
those who purchase bonds for Christ
mas presents.
The $1,000,000 of Oregon 4 per
cent highway bonds recently delivered
to Freeman Smith & Comp Co. were
all disposed of to the public within a
period of eight days. The bonds were
sold at par. The quick sale of these
bonds indicates the strong position
of the municipal bend market. The
same firm is offering $75,000 of 'ity
of Regina 6 per cent bonds matur
ing in ten years, price to yield 6
per cent witnout deductions for any
Canadian taxes. Principal and inter
est are payable In the city of New
York.
Many special offerings are shown on
the weekly list of Morris Brothers,
Inc., all of which are attractive invest
ment securities. Included is an issue
of $255,000, Province of Saskatchewan
4 per cent gold bonds due July 1, 1923
These bonds are direct obligations of
the entire province and are payable in
gold coin of the United States. Sas
katchewan has a population of 700,000
people, with an area of 251,700 square
miles. in this respect, it is larger
than France and twice the size of the
British Isles. It is the third largest
province in Canada with respect to
population, ranking after Ontario and
Quebwc. Saskatchewan ranks first of
all tke Canadian provinces in the pro
duction of field Crops, having 14,678.
042 acres under cultivation, yielding
crops valued at $349,488,200. This issue
of bonds is being offered at 92.87 to
yield 6.25 per cent..
The special offerings also Include an
issue of 24.3. City of Fort William
5 per cent bonds, 'due in 1934. which
are being offered at 88.25 to yield 6.50
per cent; $76,000 City of Regina. Sas
katchewan, $46,000 of which are 6 per
cent bonds, due in 1923, and $29,000 of
which are 64 per cent bonds due in
1928. The first maturity is offered at
98.56 and the other at par, both to
yield the investor 6.50 per cent.
OIL PROSPECT ASSURED
TRIGOXIA COMPAXI TO DRILL
IX ROGUE VALLEY.
Machinery Capable of Going to
Deoth of 4000 Feet Will !
Bo Installed Soon.
C. E. Gates, mayor of Medford. is
chairman of the board of directors
of the Trigonia Oil fc Gas company,
recently incorporated under the laws
of Oregon for the purpose of putting
down wells in the Rogue river val
ley in an effort to tap someaof the
reservoirs of nature in that section.
Accompanied by- Charles Lilly, presi
dent, and Chris Gottlieb, one of the
directors of the corporation, the
mayor sojourned in Portland the last
of the week on business connected
with the plans of the company.
Capitalized for $500,000. the stock
sold for development purposes will
be largely taken up by people of the
district, and the conduct of affairs is
under the direction and with the ap
proval of the corporation commis
sioner of the state. President Lilly,
formerly president and for many
years active manager of the Lilly
Varnish company, Indianapolis, with
Mr. Gottlieb, is at the Imperial hotel.
Mr. Lilly will leave today on a busi
ness trip to Chicago.
Preliminary to development, the
company obtained the services of M.
L. Josey, oil geologist, of San Fran
cisco, who made a careful survey of
the valley and declares that surface
Indications are favorable to the dis
covery of oil and gas. The first well
is to be started at a point east of
Phoenix and north of Talent, and a
standard rig has been ordered, cap
able of drilling to a depth of 4000
feet. The derrick soon will be under
construction and will be 96 feet high.
The plan is to carry on general de
velopment in an energetic yet con
servative, business-like manner.
That the district is favored with
mineral deposits of value not fully
revealed on surface Is said to have
been demonstrated in a well about
S00 feet deep drilled several years
ago in the same locality. It is un
derstood that several veins of bi
tuminous coal of excellent quality
were out in that drilling, and that
other formations encountered sus
tains the conclusions of geologists
based upon surfaci outcrop.
In addition to the men named
above, the directorate of the com
pany includes Sylvester Patterson.
director of the Citizens bank. Ash
land; W. H. Campbell and S. I.
Brown, business men of Medford. and
W. Liljegran, geologist, also of
Medford.
A group of strong financial inter
ests headed by Morton. Lachenbruch
& Co. and Josephtal & Co., of New
York city, have closed negotiations for
acquisition of part of the capital stock
of the Hercules Paper corporation, re
cently formed to obtain units in con
formance with a policy of expansion
which alms to establish one of the
country's largest paper making con
cerns. Tho company operates two
mills, one at Corn wall-on-Hudson and
the other at Rock City Falls. N. Y.
A third is to be taken over in the im
mediate future.
Exempt from all Dominion Government taxation.
$116,500.00
City of North Vancouver
Province of British Columbia
6 GOLD NOTES
Dated: December 1, 1919
Due: December 1, 1922
Gold Coin of the United States in New York
or at the quarters of Morris Brothers. Inc.
DENOMINATION: $500
This issue of bonds of the City of North Vancouver ta a direct lien and general
tax obligation of the entire city, all of its taxable property, wealth and resources
being pledged to pay Interest and principal as they beoome due. We recommend
these bonds as exceptionally desirable, with an unusually high interest yield.
As a matter of fact, it would be difficult to duplicate this opportunity from an.
Investment standpoint.
Price: 97.34 to Yield 7
Burglar and Fireproof Safe Deposit Boxes for Rent
MORRIS BROTHERS, Inc.
The Premier Municipal Bond House
Capital One Million Dollars
309-11 Stark Street, Between Fifth and Sixth Streets, Ground Floor
Telephone: Broadway 2151 Established Over a Quarter Century
FUNERAL PLANS DELAYED
HO DY" OF WILLIAM A. HOLST
EXPECTED HERE TODAY.
Steward of Portland-Built Steamer
Ahala, VIh Died at NoriolU,
Va., Is to Be Buried Here.
Funeral arrangements for William
A. Hoist, who died recently in the
marine hospital at Norfolk. Va.. are
being- held in abeyance pending the
at rival of the body here.
Mr. Hoist was a veteran ship stew
ard of the Pacific coast and had
served in this capacity for the past
35 years on vessels plying in the
Willamette river and off the coast.
He was for nine years steward of the
steamer J. N. Teal and was wrecked
twice on the ill-fated steamer Alll
ance. He also served for many years
on the steamers Koanoke. J. B. Stet
son and others plying in the Port
land-Alaska trade.
At the outbreak of the war he en
tered the merchant marine service in
the capacity of steward on vessels
of the emergency fleet corporation,
lils death occurred just after he had
completed a voyage from Philadelphia
to Bordeaux and back to Hampton
Roads on the Portland-built wooden
steamer Alia la, which sailed from this
city to the Atlantic coast under the
operation of the Columbia-Pacific
Shipping company. His body is ex
pected to reach Portland today and
will be taken to the parlors of the
Edward Holman company. Funeral
Bervicea will be under the direction of
tho Moose lodge,, of which Mr. Holat
was a prominent member.
Mr. Hoist was born in Stockholm,
Sweden, and came to this country in
1863. He came to this country when
12 years of age, on a sailing schoon
er. He leaves a widow, Mrs. Agnes
Hoist of Baker, Or., and two sons.
Jack, who lives in Baker, and Harry,
a resident of this city.
WEST CELERA IS LAUNCHED
8800-Ton Freighter leaves Ways
at Schaw-Batcher Plant.
SAN FRANCISCO, Cal., Dec. 7. The
West Calera, an 8800-ton freighter
built by the Schaw-Batcher company
here for the emergency fleet corpora
tion, was launched today at the com
pany's yards in south San Francisco.
She was launched sideways with her
boilers, auxiliary machinery and deck
machinery in place.
This was the first ship launched
since the shipyards reopened several
weeks ago, despite the strike of em
ployes in effect since October 1.
NEW RADIO RECORD SET
Colombia "Talks" With San Fran
cisco When 48S& Miles Out.
A new Pacific coast record for long
range wireless communication was
established by the Pacific Mail steam
ship Colombia, which recently ar
rived in San Francisco from the
orient. The operators of the Colom
bia kept in communication with San
Francisco through the X.os Angeles
station ot the navy for a distance of
4856 miles.
Tho' operators also maintained that
for two days they listened in and
distinctly heard the stations at Han
over, Pario and Sweden, distant 12.000
miles, or half-way around the globe.
Ice Jam Stops J. X. Teal.
The hard luck cruise of the river
steamer J. N. Teal, operating between j
Portland and The Dalles in the serv-
TK, nallaK.PnlumhlB line., which I
began with a delay of four days at
the Cascades because of a high wind
down the Columbia, has culminated
in the boat's being caught at The
Dalles by an ice Jam. Repoits from
tho upper river last night were that
the temperature had dropped '.o zero
and the Teal was biding her time in
a protected bend of the river.
Brookwood Coals Mere.
Because of a shortage of coal at
drays harbor and Astoria, the wooden
steamer Brookwood, built at Seattle
and loaded with lumber on Grays har
bor for an Atlantic port, came up to
Portland last night to coal at the
Pacific Coast bunkers.
U. S. Naval Radio. Reports.
AII positions reported at 9 P. M. yes
terday unless othern-ihe Indicated.)
MOKFET, Seattle tor Bah Francisco, 116
mliea north of an Francisco.
RAINIER, Seattle for Ran Francisco, 208
miles from San Francisco.
AVAL.ON. Karmond (or Ran Francisco.
265 miles from Kan Francisco.
GOVERNOR. Ban Francisco for Seattle,
75 miles north of Cape Blanco.
JOHANNA SMITH, Coos Bay for Ran
Francisco. 289 miles nortb ot Ean Fran
cisco. CITT OF TOPEKA. San Francisco for
Portland. 02 miles south of Cape Blanco.
ELLOBO, Vancouver for Fan Francisco.
14 miles north of North Head.
6POK ANB. "Wilmtng-ton for Pan Fran
cisco. 2(K miles from San Francisco.
ASUNCION, San Pedro for Richmnod,
1120 miles south of Richmond.
ARUVLI., Seattle for Oleum, 360 miles
from Oleem.
WILLAMETTE, Portland for San Fran
Cisco, 115 miles south of the Columbia
river.
W. S. PORTER. Meadow Point south,
874 miles from Meadow Point.
ROYAL, ARROW. San Francisco for
Shanghai. 237.1 miles from San Francisco
at 8 P. M.. December 6.
MBR1DEN. Taeoma for Honolulu, 1HT6
miles from Cape Flattery at 8 P. M., December-
ft.
SENATOR. Anacortes for San Francisco,
85 miles from San Francisco.
ATLAS, Richmond for Victoria, 260 miles
from Richmond.
CAPT. A. F. LUCAS. Ban Pedro for As
toria. 3K4 miles from Astoria.
STANDARD NO. 2, and barse 91. Los
Anfteles for Richmond. 140 miles south of
Richmond.
SYLVAN ARROW, San Francisco for
Beakmont, 823 miles from San Francisco.
Cisco.
J. A. CHANSLOR, Linnton for Gariota.
670 miles south of the Columbia river bar.
KLAMATH, Seattle for San Francisco,
135 miles north of San Francisco.
PRESIDENT, Seattle for San Francisco,
north of Ran Francisco.
WASHTENAW, San Pedro for Portland,
640 miles from Portland.
ASTRAL. San Francisco for Hongkong,
80 miles from San Francisco lightship.
EL FEOCNDO. Richmond for Point
Wells. 160 miles from Point Wells.
WEST IVIS. off Race Rocks.
ADMIRAL RODMAN, Port Armstrong
for Heceta, 29 miles from Port Armstrong
at 4 P. M.
LIBERTY and VICTORY BONDS
Jf yo most sell yoor Ubvrty or Victory bonds, sell to ma.
,"'" ' j 2 , ,U "T er icrory noaus. nay from os.
rt.J ??- t2t3J Dcmbr 6. 1919. the closing New Tork market prices for
Liberty and victory bonds were as given below. They are the geverning srlcM
J?1" V.nlied Stm.'." Government Liberty and Victory bonds all over thYwofltC and
the highest VVe advertise these prloes dally In order that you may alwavs know
the New lork market and the exact value of your Liberty and Victory bends.
1st 2a 1st 2d 3d 4ih
"Hi 4 4s 44s 4m 4H 4Hi
Market ..899.B2 B4 02 $92.10 K4..0 $'J2.2 104.40 182.43
Interest... 1.63 1.02 .26 2.04 .27 ag .S3
ry I
Victory Victory
3 s 4m
JI1IVH 199 14
2.06 2.61
. Total. $101.30 S.4 J92.36 $P6.34 tl.2.65 t5.S8 9.1.0.". $101.20 $10173
When buyln. we deduct 87c an a tftO bond and $2.0 on a $1000 bond. We sell
at the New York market price plus the accrued InteresC
Burglar and Fire-proof hmtm Depeult Boxes for Kent
Open uatil P. M. a Saturdays.
MORRIS BROTHERS, Inc.
The Premier Municipal Bond House Capital One Million rtnllara
''VTiP,l'llng. 3US-11 Mark street. Bet. Hfth and nixth
TELEPHONE BROADWAY EloL. Kstablislied Over s Quarter Century
Colombia River Bar Report.
NORTH HEAD. Dec. 7. Condition of the
bar at 3 P. M. : Sea, moderate; wind,
north. 22 miles.
BONDS
JsAFETY FIRSTl
INSURANCE
o.
W. T. MUELLHAUPT &
FINANCIERS GENERAL INSURANCE
Will Render You a Superior Service
"All Strong: American Companies'
Suite 407-409 U. S. Nat'l Bank Bldg.
Tel. Broadway 3838.
CO.
TWO DOZEN-
Blancbard Evaporated
FRESH EGGS $1.15
Aak loar Graeer
Haaelwood Company, Distribntora
Portland, Oregon
GOVERNMENT, CORPORATION AND MUNICIPAL
BONDS
TO NET FROM 5 TO 7
PREFERRED STOCKS LOCAL SECURITIES
ROBERTSON & EWING
207-8 NORTHWESTERN BANK BLDG.
Year After Year
the gross earnings, the net earnings, the valua
tion and the number of customers of the Pacific
Power & Light Company have shown substantial
increases.
Gross earnings this year have been running
from 12 to 22 higher than for corresponding
months of last year.
The Company manager estimates that the net
earnings for 1919 will be 15 higher than for
1918.
The value of properties has been increasing
about $1,000,000 each year.
The number of electricity patrons has increased
steadily from 13,952 on December 31, 1912, to
25,311 on June 30, 1919.
First Mortgage 5 Gold Bonds secured by the
' entire physical property of the Pacific Power &
Light Company
OFFER THE INVESTOR A RETURN OF
OVER 6.30
Full details of this investment gladly furnished
on application.
mbermerslYrus1" (fix
Borvds -Truss- Acceptances
vjpim a ssrpiui naMM
Sar frarxeisco lob.reei Bid.
Por-l rd. ' Orqoi.
CSS
The Bank of California
NATIONAL ASSOCIATION
Founded 1864
Head Office, San Francisco
Capital, Surplus and Undivided Profits $17,000,000
Under authority of the Federal Reserve Act this bank is now
empowered to perform all kinds of fiduciary service and
transact any Trust business authorised by law. By appoint
ment or agreement it will act in the following: capacities:
Trustee
Administrator or Executor
Fiscal Agent or Escrow Agent
Receiver or Assignee
Registrar or Transfer Agent
We shall be glad to discuss or correspond with those inter
ested in business of the above character, as well as banking
in all its phases.
PORTLAND BRANCH
Third and Stark Streets
W. A. MACRAE, Mgr. J. T. BURTCHAELL, Asst. Mgr.
MUNICIPAL BONDS
From the States of
OREGON WASHINGTON IDAHO
To Net 4.90 to 6.50
Exempt From Present Income Tax
fHPevereaux 5i(5mpany
87 Sixth Street
Ground Floor Wells-F&rgo Building
Broadway 1042