THE MORNING- OREGONIAX, TUESDAY, JANUARY 18, 1920
STOCKS DGH ON SALES
PUBLIC SUPPOIIT IS IiACKIXG
IX WALL STREET MARKET,
C3
o
0
Declines Are General When Money
Rates Tighten Rumor of
Losses to OH Properties.
OS
NEW YORK. Jan. 13. Another deficit In
Clearing house reserves. stiifer money
ates and continued abstention of public
support constituted the chief deterrent fac
tor of today's reactionary stock market.
Failure of the United States supreme
court to act on the stock dividend case
and widely circulated but unconfirmed
reports that several Important Mexican
oil properties had sustained severe damage
from earthquake disturbances provided the
shorts with materia ta depress prices. In
the final hour, call loans rose by succes
sive stages from 10 to IS per cent and
tlie selling and ceneeQuent declines be
came quite general.
As uual, there tver a few stocks which,
stood out for their comparative strength,
especially Koyal lJutch. Kails also resist
ed pressure, but trading was light, bales
amounted to 3,075,000 shares.
The bond markot presented no new fea
tures, apart from a moderate accession of
activity. Liberty bond and rails cased
lightly, but Internationals, as represented
y Anglo-French s, were steady to firm.
Total sales, par value, were 15,000,000.
Old United States bonds were unchanged
mu call, '
CLOSING STOCK
Sales.
Am Pest Bug
Am Can 9,200
Am Cr Kdry 4.100
Am H & l pfd 1.200
Am Loco 10.200
Am Km & Rfg l.aOO
Am tiuftar Rfg
.Am Sum Too. 2.400
Am TAT.... l,f00
Am Z 1, & B. . l.HOO
Anaconda Cop 5,600
Atchison 2.100
o iwisa a.:ioo
Baldwin I.oi o. 77, 000
Halt & Ohio. 2.HIO
Pcth Steel B. lS.UOO
X & S Copper. 7.20
Cal I'etro..l.. 1.100
Canadian Pac .
Central Leath 7,700
f hes & Ohio. , :l"i0
Chi M & St P. 1.SOO
Chi & North. 4(10
( hi R 1 & Pao ioo
Chino Copper.
Col i'u & Iron 1.K0O
Corn Products 5.700
Crucible Steel 8.0O0
Cuba Cane siug 6.2DO
U S Fd Prod. 2.1O0
Erie 1,100
Gen Electric. 'JIlO
Gen Motors... 12.000
Gt North pfd. l.soo
Gt No Ore ctfs 2.200
Illinois Cen.. loo
Insplr Copper 4.000
lilt M M pfd. H.2O0
Inter Nickel.. t...1i0
Inter Paper.. 17.r"0
K C Southern 200
Kennecott Cop 4,400
I.ouis & Nash 200
M ex loan Petrol 21,'."00
Miami Copper 20i
Midvalo Steel. 6, WO
t 1 issouri Pac. :!0u
Montana Pow. 200
Nevada Cop.. 200
N V Central.. I. ".00
N Y N H & H l.oo
Nor i West.. 7H0
North Piu'il'lc. 2.IMIO
Pan-Am Pitrol 2K.SO0
Pnmisvlvanla J.il'XI
Pitts & W Va. 1.700
Pitts Coal. 200
Ray Con Cop. 400
Reading 1.4O0
Rep Ir & Steel B1 ,S00
8in Oil & lite 20.100
Southern Pao. lo.OOO
South Ry i.iioo
Studebaker Co 3:i.OUO
Texas Co U.4O0
Tob Prod n.OOO
I'nion Pacific. :t.:;oo
Vlilted Ket St. IH.KOO
U S Ind Alco. I t.HOO
TT S Steel U2.000
tr S Steel pfd. 200
T'tah Copper.
Vesting Klec
Villys-Over. .
Natl Lead . .
Ohio Cits Gas
Koyal Dutch.
QUOTATIONS. I
Last
High, Low, Sale,
..... 81
56 '4 R4 64
laic 17A laTtt
117?A 115 H5V4
101 94 8tis
60 Ss 5V esv
f!38
96S4 Ml
07 90. )
20 ' 2IH4 20 '
S3', 2'4 63
84,, 83', 84
m,a 14 11 ft
121 1104 US'
:2 31 314
osi ." !'
2', 28 . 2SH
42 41 41
131
78 94 95
ri 55 55
:i7 S 86
f-6 SA 86
27 20 27
38 ',4
42 41 41
86 83 83
215 211 211
03 51 51
74 73 73
13 13 13
1X8 lH8ft 108
328 31 S 320
79 78 78
40 39 89
89 81) 89
fiU.'i 56 57
110 109 09
25 24 25
85 80 81
1.1 15 15
31 31 31
111 1 1 1 1 1 1
209 4 195 196
24 'A 24 24
51 50 50
20 25 25
OS 67 67
ltt 16 16
70 69 69
26 2U 26
76 90 9tl
So 70 7!
llll 93 90
42 42 42
28 27 28
62 62 J
22 21 21
76 75 75
118 113 113
46 44 44
102 100 100
22 21 21
llrt 105 106
21 7 2"3 203
92 90 90
122 121 122
94 92 92
113 108 J09
107 105 J0
115 115 115
77 76 78
5344 53 53
31 30 30
81 9(1 80
4S 47 47
107 105 106
THE
STrxTe
llOOt.
oeoo
' "" iiwn iin i i t.tm ,mm m;mmmm jj,jwyysisaj
e "SBa sBsaisssgsJsSBsssssBSB"ssJs
DeceBb'
E4. 191"
" er-
- XXXJZ
t- rsirK
JT I
These letters of commendation, coming to us from four
separate states and from seventy-seven different banking
institutions, represent an expression of appreciation for the
kind of service to which we have given ourselves so unre
servedly .
There are : 42 letters from California
20 letters from Washington
11 letters from Oregon
4 letters from Idaho
For over a quarter century we have devoted ourselves
to our business, knowing that work well done and service
rendered has its rewards in the satisfaction which comes
from the doing. .
These letters, now on file, are far more than a mere ex
pression of appreciation from the senders. They are a con
summation of everything for which we have worked and
striven they are the crown of leadership.
tr a Lib 3s.
do 1st 4s
1,300
1.900
13.200
700
fi.200
45,900
BONDS.
.99.521 Anslo-Fr 5s ...
.92.84A T sc T cv 5s. .
....91,72 Ateh gen 4s ..,
06
99
do 2d 4s
do 1st 4 s. . .9S.14 D & R O con 4s.65
.do 2d 4's. ..92.24j N Y C deb 6s. . 92
do ;a 4,, S. . .Of. 10 in r ,9 .....
do 4th 4s...92.42!N p Ss
Tii-tory 3s ...98.761 Pao T & T 5s
do 4s 98.761 Ha con 4s.
TJ S 2s reg...100 IS P cv 5s...
do coupon ..100 So Ry 6s...
TJ S 4s reg. . . .105 U P 4s
.105U k Steel 5s
..88j
. .tb Bid.
78
. 55
87
.72
.103
. 86,i
do coupon
Pan 8s reg..
do coupon
84
99?
Mining Stocks at Boston.
BOSTON. Jan. 12. Cloning quotations:
Allouez 33
Ariz com ..... i-t
Calu & Ariz. ... 64
Calu & Hecla..395
Centennial
Cop Ram?o . .
East Butte . .
Franklin
Isle Royalle .
1ohawk . . . .
Korth Butte
1
46
14
3
sr.
69
16
Old Dom 36
Osceola 52
Qulncy 1
iiperior 5
Sup & Boston.. 4
Shannon ....... 1
I'lah Con ...... 8
Winona 1
Wolverine 21
tireene Can .... 37
MORRIS BUILDING,
Telephone: Broadway 2151
orprcrFri kit?
y J
1 i ' i it ' ii i ii 1 1 1 1 - ' ill' i i ,i'n' rti- isiiii'siiiiir
The Premier Municipal Bond House
Capital One Million Dollars
309-11 STARK STREET, BETWEEN FIFTH AND SIXTH STREETS
Established Over a Quarter Century
SIDE LINES ELIMINATED
SWIFT TO CONFINE BUSINESS
TO MEAT AXI PRODUCE.
Money, Kxchungre, Etc.
KEW YORK, Jan. 12. Mercantile pa
per, tt per cent.
Sterling, demand. $3.73 cables,
$3.74 Francs, demand, 11.1S; cab lea,
3 1.10; Kiiilders, demand, 37; uables.
H. lire, demand. 13.43; cables, 13.40
marks, demand, l.ltO; cables, 1.97.
Time loans, strong; CO days, !0 days and
mix months, per cent bid.
Call money, strong. High 10 per cent
low 7 per cent; rulftig rate 7 per cent;
closing bid 14 per cent; offered at 1ft per
cent; last loan is per cent,
yinr silver. $1.37.
Mexican dollars, $1.05.
LONDON, Jan. 12. Bar ailver, 62
er ounce. Money, Si per cent.
Discount rates, short bill. BVi per cent;
three months' bills at 5 per cent.
6AX FKAXCISCa PRODUCE MARKET
Price Current on Vegetable, Fresh XfYults,
Ktc.. at Bay City.
SAN FRANCISCO, Jan. 12. Butter, 68c.
fciggs Fresh, extras, 71c; extra pullets,
4'i;c; undersized pullets, 5tic; Cali
Zornia firsts, til So.
Cheese Old-style California flats, fancy.
20 c ; firsts, nominal; Young America, 36c.
Poultry California hens, 32 H33c; do.,
colored, 35 (& 37c ; strictly young roosters,
84 i& 33c; do., old, 22c; fryers, 34&'36c;
broilers, 3o(3lc; ducks, 3U32c; Belgian
hares, alive, 17lUe; jac-krabbits, $3,006)
tf.50 per dozen; squabs, tt0fl70c per pound;
pigeons, $2.7"6.50 per dozen, turkeys,
dressed. 50 5'J: ; do., live, nominal.
Vegetables Eggplant, southern, 10 20c
per pound; bell peppers, southern, 15r&20c
per pound; chile, southern, 12 $v 15c ;
quash, per large lug: cream squash, 75c(g
$1.00; do., hubbard. Si. 21.75 per saok;
marrowfat squash, 1.25 1.75 per sack;
mimmer eauaah, southern. $i.23& 1.75;
tomatoes, southern. $1. 252.00 a crate;
Mconil quality, $1 .00 1.25; potatoes: street
prtf es, rivers, $3.00 (g) 5.25 per cental; do..
sweet, 41a4ffto per pound; onions, yellow
and white, $4.25(ij4.oO per cental on street
do.; Australian brown, 4.7o(&'5.2tf on
street; cucumbers, 93.5003.75 for hot
house; do.; languish, l..oU ig: 2.00 per
dozen; garlit. 22 24a per pound t beans,
preen, 12ie'15o per pound; celery, $3.50
tg tt.OO per crate; artirhokes. dozen. No.
3, l.50; No. 2, 91.25; Mo. 3, 91. PO; turnips,
sack, ll.MKa; 1.75; beets. $ 1.73 T 2.00; car
rots, $l.2o(u 1.50; cauliflower, $1.25 1.50
per dozen; lettuce, southern, ll.T9ffi2.S5
peas, small, 12 & 15c ; sprouts, 7Q)g per
pouna.
Fruit Oranges, navels, $4.00 6.00;
lemons, $4.O0(05.o0; grapefruit. $2.25 &
Charges of Profiteering Are De-
nied Wholesale Prices 3Iuch
Lower Than. Year Ago.
Shareholders of Swift & Co. resent any
implication of profiteering, according to
President Louis F. Swift, In his address at
the annual meeting of the company at
Chicago, because the charge, he said, is
untrue.
Employes of the company were urged to
get in debt for the company's securities or
something else worth while and when they
got out of debt to get in again. An
nouncement of the retirement of F. S.
Hayward, secretary of the company, was
made. An employes1 relations department
with John Calder as Its head has been es
tablished to cultivate the human -element
in the personnel of the packing business.
In his address Mr. Swift said:
"Your directors have for some time, as
evidenced by the segregations that have
been made, bad it in mind to confine the
business of Swift & Co. to the activities
directly related to the slaughter of meat
animals and the products therefrom and
to the handling of what is called produce,
namely, poultry, butter, eggs and cheese.
"While we haye felt that we have had
a perfect right, both morally and legally,
to be engaged in any related lines that
we could manufacture and, distribute eco
nomically, there seems to have been a cer
tain amount of public sentiment against
one packing eoncern being engaged in
many different lines of business. Our in
terest in these businesses has been per
fectly legitimate from every point of view,
hut we have nevertheless thought it best to
dispose of the more remotely-connected en
terprises. Swift Co., tnereiore, expressea
a willingness to dispose of Its interests in
mihiin ntocKvaras. stocKvara terminal rail
roads and stockyard newspapers if a legal
way can be found, and to discontinue han
dling various lines, principally canned
goods and a few minor articles wnicn nave
been sold In small quantities but which do
not aggregate more than. 3 per cent of
nur -.total business.
"We trust that the puonc win realize
that we have made these concessions with
a sincere desire to co-operate in allaying
the agitation which Is harmful to our busi
ness and to the public at large.
"Considering the decline in values In
consequence of the withdrawal of foreign
buyers from the market last fall and the
low price of foreign exchange affecting our
exports, we have done fairly well, having
paid 8 per cent dividends and carried
$3,806,721.84 to surplus account.
"Our total sales were ever $1,200,000,000.
Our profit was equivalent to 1.15 cents on
each dollar of sales pf all kinds of prod
ucts. "The present wholesale prices of meats
are much lower than they were a year ago
and are lower in proportion than other
food products.
8.75 per box;
ban anas, 7 & 8c
$3.00 (a 4.50 per
$1.00 fr 1.50 per
$2.753.5o; do..
tangerines. $2.00 fe 2.50
per pound; pineapples,
dosen; pears, cooking.
lug; do., winter Nellie.
Oregon. $4.00 : a nnlea.
Btiode Island oreenlngs, $1.75 (2.00 for
4-tier and si.auini.tKi lor 4Vi-t.er. New
town Pippins. $1.75 2.25'; Oregon Spitzen
burg, $2.60$it3.25; Baldwin, $2.002.25
Oregon Newtown Pippins, $2.60&8.00;
Lady apples, $2.502.75 per box; pome
granates, $1.25 1. 50 per peach box; per
simmons, nominal ; cranberries, northern,
$3.50(4.00 per box; rhubarb, $L752.25
per larg box.
Receipts Flour. 7000 quarters; barley,
8000 centals; corn, 000 centala; wheat,
3H00 centals; hay, 847 tons; hides, 000;
rice, 10,1 HO sacks; beans, 2020 sacks; po
tatoes, 5020 sacks; wine, 34.000 gallons.
Naval Stores.
SAVANNAH, Ga., Jan. 12. Turpentine,
firm, $1.81 ; sales. 323 barrels; receipts,
45 barrels; shipments, 772 barrels; in stock,
13.170 barrels.
Rosin, firm; sales, 431 barrels; receipts,
506 barrels; shipments, 771 barrels; In
stock, 45.4&1 barrels. Quote: B, $17.25: t,
17.o; K. $17.50'17.5; F. $17.5017.70;
G. $ 1 7.65 tf 17.75: 11, $17. 70tf 17.75; I, $18.05;
K. $18.75; at. $20.50; N, $20.75; WG, $2i;
. -
G.E. MILLER
BONOS AN
ME
& COMPANY
3
NVESTMENTS
GOVERNMENT
MUNICIPAL
CORPORATION
BONDS
TO YIELD
FROM 4.90 TO 7.15
INVESTMENT SECURITIES
FULL PARTICULARS SENT
UPON REQUEST
G.E.MILLE,R
&. COMPANY
BONDS
Feed and Hay at Seattle.
SEATTLE. Jan. 12. City delivery: Mill
feed, 49 per ton; scratch feed, $84; feed
wheat, $S8; all-srain chop, $7tt; oats. $6'$?
iU; sprouting oats, rolled oats. 172 :
whole corr.y $75, cracked corn. $77; rolled
barley. $81; clipped barley, $85.
Hay Eastern Washington mixed timo
thy, $38Co)39 per ton; double compressed,
$41'; alfalfa, $33; straw. 17plo; Puget
sound, $33.
Hops at New York.
NEW YORK, Jan. 12. Hops quiet. State;
medium to choice, 1019, 754tt5c; 1918, 60
rooc; -acmc coast, luiu. bUtrbSc; 191s.
Dried Fruit at New Tork.
NEW YORK. Jan. 12.-Evaporated an.
pies quiet. Western, 2H424c; state, 21
IS 22c
Prunes firm. California, 14 32c; Ore-
ffons, 16$jp25c.
Peaches steady. Standard. 2ia21Uc:
Choice, 2i;&22c; fancy, 24 S 25c.
Coffee Futures Fase Oft.
iukk, Jan. 1 There -was an
advance of 29 ta ST points In the market
for coffee futures durlns: today's earlier
tramng on covering or re-nuying by pep'
pie who bad sold on Saturday's uncon
firmed minors of political troubles in
Germany. The advance was also en
couraged by firmer Brazilian cables and
continued light receipts, but after selling
at lti.57c for May and 16.70c for July
prices eased off under realizing, closing
at a net advance of 9 to 20 points. Jan
uary, 15.Sc; March, 16.1c; May, 16.3io;
Julv, I6,r3c; September, 18.30c; October.
16.23c, and December, 18.10c.
Spot coffee, quiet; Rio 7s, 18 c to 17c;
Santos 4s, 25 c to 26c.
Duluth Linseed Market.
nrijTTH. Jan. 12. Linseed. 5.irig5.35.
HALL & COMPANY
BUY AND SELL. y
Railroad '
Public Utility
Industrial
Municipal
BONDS
YIELD INQ
fo to 7
Foreign Government Loans
Local Securities
Preferred Stocks
Lewis Bldg Portland, Or.
Toledo Traction
Light and Power Company
First Lien 1 Two-Year Gold Bonds
An attractive issue -offered at a price to yield over
7
. Complete circular upon request for OR-019
The National City Company
Correspondent offices in over fifty cities
- ' Portland Yeon Building
v .Telephone: Main 6072.
Bonds Short Term Notes Preferred Stocks
Free: 2 Valuable Books:
"Inflation and Prosperity" 58 page)
"Th Meaning of Property" (106 pages)
With our whole country perplexed by the
abnormal commercial conditions which
prevail, and an understanding of these .con
ditions obscured by so many conflicting
theories, these two practical books should
be read by every manufacturer, jobber and
banker. .
The books contain no advertising. They are
not dry nor academic. They discuss big,
vital, fundamental economic problems with
convincing logic and refreshing style. They
are books you will want to read and keep
handy, for frequent reference.
Copies of both will be sent free upon re
quest. Write or phone for yours today.
AMERICAN CREDIT" INDEMNITY CQ
or. NEW YORK E. M. TREAT, mesidcht
H. T, MacRill, General Agent
t Board of Trade Bldg.
Phone Main 1179
Portland. Or.
if
SOVERNMENT '
MUNICIPAL
CORPORATION
TELEPHONE. AAIN 415
204 5 6 Northwestern Rank Building
3
I0C0
6 Farm Mortgages 6
Secured by some of the best improved farms in the State of
Oregon, netting: the investor 6. We have on hand amounts of
$1000 to $10,000. City mortgages in amounts from $500 up, netting
6 to the investor. 4
m
(Established 25 years) o
,3
8
319 Ry. Exch. Bldg.
Phone: Main 675
I0E30X i in IOC
Blyth, Witter & Go.
SAN FRANCISCO
LOS ANGELES
NEW YORK
SEATTLE
Announces
the Opening of an Office
402 Yeon Building
PORTLAND, OREGON
to deal in GOVERNMENT, CORPORATION and
MUNICIPAL BONDS under the management of
' Colin Livingstone.
TELEPHONE MAIN 3304
. LIBERTY AND VICTORY BONDS
If you must sell your liberty or victory bonds, sell to us.
" you can ouy more liberty or victory bonds, buy from us.
t . 'i?Jluary 13- 19-- the closln New lork market prices were as riven
below. Tliey ure th governing prices tor liberty and victory bonds all over
the world, and the highest. We advertise these prices daily In order that you
may always know the New Tork market and the exact value of your liberty
and victory bonds:
1st lit 2d
S4a 4s. 4s
Market... $90.r0 S91.7i
Interest... .21 .31 .64
1st
4 Us
93.1
.S3
2d
Ks.
.68
3d
.
f D4.O0
1.3U
4th
nL'44
1.03
Victory
841. 4 Vs.
9S.7S JWS.74
.-a .37
I"ia,-.,W,;TT W31 2 .14 93.4! JK2.88 93 o !3.47 99.01 199.11
wncn buying- we deduct 37c on a o0 bond and -'.no on a JlnilO bond. We
sell at the New York market, plus the accrued Interest.
Burslar and re-proof Safe Uepoi.it Itoxea for Kent
Open until 8 P. M. on Saturdays.
MORRIS BROTHERS, Inc.
Th Premier Municipal Bond House Capital One Million Hollars.
Morrl Building. 309-11 Stark buret. Bet. fifth and Sixth.
TELEPHONEi BKOAUWAT 13U KtttauliftheU Over a Uurter Century.
Arthur Berridge & Company
Certified Public Accountants and Auditors
Income Tax Specialists and Advisers
619 Worcester Block Main 8621
DO you know that much of your Income Tax trouble comes from
poor Accounting Systems and Records ? Let us prepare your
Tax Reports and revise your Bueinesa System.
CONSULTATION FREE
6 First Mortgage Serial Bonds
Secured by 1st Mortgage on Improved Farm Property
in denominations of $100, $500, $ 1000, $2000, $ 5000
Price Par, to net 67o
Normal Federal Income Tax Paid by Borrower.
For further information call or address
Commerce Mortgage Securities Company
Ground Floor, Chamber of Commerce Bldg.
91 Third St.
MUNICIPAL BONDS
From the States of
OREGON WASHINGTON IDAHO .
To Net 4.90 to 6.50
Exempt From Present Income Tax
E L DeverQaux x(5mpany
MUNICIPAL BONDS
87 Sixth Street Broadway 1642
Ground Floor Wells-Fargo Building
To keep on preaching: "Safe investments" year after ;
year, regardless of the tempting: speculations frequently
appearing, requires consistency. We have always been .
consistent in our relations with investors.
The House Built Square
Carstens & Earles, Incorporated -
307 U: S. National Bank Bldg. Phone Bdwy. 4108 j
CsIP I 101301
(0X02