Morning Oregonian. (Portland, Or.) 1861-1937, February 23, 1920, Image 11

Morning Oregonian., February 23, 1920, Page 11, Image 11

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Newspaper Page TextTHE 3I0RXIXG OREGOXIAX, 3IOXDAY, FEBRUARY 23, 1920 11 V PUBLIC ASKS il NTERE5 m Situation in Market Calls At tention to Demands. COCK ISSUE INDICATIV Attempt of Local Port Commission to Sell $730,000 Shows Ten dency of Pendulum. There is considerable Interest among financial nojses over the of' fering made by bidders for the 9750, odo bond issue of the dock conimis sion of Portland, opened last Friday, '. and which had been readvertised after rejection of higher bids offered three weeks before. The bonds were first nationally advertised in leading I financial publications as well as the daily newspapers. While there is large amount of bonds Bold locally an issue of this magniture is too large for prompt sale to individual purchasers and it is therefore neces ary that the entire issue be disposed of to dealers who can in turn dis tribute them to the Individual buyers. In response to the first call for bids an offer of 194.56 was received ai the best among a number. The com mission considered this too low and decided to reject all hids and read vertise. Henry Teal made the best offer for the entire amount last Fri day, 191.18. which figure is to make the bonds yield about 5.30 per cent, or a discount of about 3.44 per cent irom a per cent rate. All Blda Rejected. A syndicate composed of the Con tlnental & Commercial bank, Harris Trust & Savings bank. A. B. Leach & Co. and Lumbermen Trust com pany bid 192 US for 1375,000. Henry Teal bid J91.1S for the entire amount. A syndicate composed of Freeman Smith & Camp company, Maisey Stuart Co.. E. H. Rollins & Sons, Cars-tens ft Karles and William R Compton & Co. offered 91.12."6 for the entire J750.000. and tiic National City company offered 189.599 for the whole issue. The difference in returns to the treasury of the dock commission be tween the best offer of the first bids and the best of last Friday .Inade by Henry Teal was 25,.150. This sum 'Would have been realized on the pre Tious best bid as against the best of fer now made. All bids were rejected and the bonds will be again adver tised. This situation in the sale of bonds calls attention to the fact that In vestors are seeking higher returns on their money than In the past. The value of money as indicated by daily business transactions is now about 6.5 per cent as compared with about 4.75 per cent a year ago when the gov ernment was determining upon the Interest rate that should be fixed on the victorv liberty bond issue. It is because of the insistence of the in vesting public upon a higher return, based on bank and discount rates for money and its equivalent, that the prices on bonds has been forced down. That Is also accountable for the pres ent price of liberty bonds that makes them a most attractive buy. yielding more than 5 per cent to the buyer who acquires them to hold for maturity. and possiDly niRiier iciun, when the pendulum swings back and thev are above par. Municipal issues such as the narDor Improvement bonds are the best char acter of Investment the purchaser can obtain. But the pressure oi i ket has been such as to cause a de -ii within the last month, as de noted by the lower offerings in the last bids. It Is a serial bond, matur ing from 1923 to 197,0, an average pe riod of about 17 years. In this connection It is of Interest that borrowers of money are obliged to pay higher rates for loans of large urns than a year ago. One Portland man who recently sought a loan of $25,000 was unable to secure a possi bility of less than a 6 V, per ceni raic with a strong probability that the bank would be obliged to charge 6 i ti t cent. To use Yankee vernacular, It coat more to "hire" money than It did a little wnne ago. Foster Kleiser company wa start- in jjv. i? y trailer r . r au, George W. Kleiser, at which time they acquired plants in Portland and Se attle that had been successfully oper ated by their predecessors for 20 years. Since that time the growth has been continuous and rapid, until today the company operates plants in San Francisco, Oakland, San Jose, Valiejo, Los Angeles, Portland, Se attle. Tacoma. Belllngham and over 200 other cities and towns west of the Rocky mountains. It now ranks third largest in its line in the United States. The entire present capacity of over 13,000 advertising units is sold for the year 1920. The preferred stock Is redeemable at (110 a share after three years, an annual sinking fund of 5 per cent having been provided with the fur ther provision that all the preferred stock will be redeemed by February 1, 1940. The stock Is 7 per cent preferred, both as to assets and dividends, and is cumulative. It is offered at 1100 a share and will yield from 74 Per cent to 8 2-3 per cent if held to re demption at the call price of $110. Dividend la Declared. A dividend of 3 per cent on the common capital stock of the Atlas Powder company has been declared, Davable Wednesday. March 10, to stockholders of record at the close of business on Saturday. February 28. E T crop Columbia Basin Rich in Good Quality of Fuel. SEVERAL KINDS AT HAND Southwest Washington Has Depos its of Bituminous and Iignite. Coke Product Good. Hall Visit Portland. Charles Hall, president of the Bank ef Southwestern Oregon at siarsn field, was a.rortland visitor Saturday. He had Just returned from a trip to Seattle, stooued over a day to check tip on affairs of the state chamber of commerce, of which he is president, and left yesterday morning for San Francisco on a business trip. Mr. Hall renorts business activity in lumber operations, with two new sawmills to fee built on Coos bay this spring. Colonel E. C. Simmons of the United Bttes National bank. Is treasurer of the Multnomah Athletic club and takes a lively Interest in educational movements that tend to entourage young men to develop their physical and mental powers. He surprised the other bank officials Saturday morn ing when he marched a group of about 40 young athletes through the counting room to the shower baths and dressing rooms in the basement of the building, where they donned their garments for the cross-city run. It was a clever method of acquainting the young men with the facilities of . the financial Institution. Included among the new securities feeing offered this week by the Luni bermens Tru.t company are $227,000 Province of British Columbia, guar anteeing city of south Vancouver, two jear 6 per cent bonds, which are be ing offered on a 7.25 per cent basis; $10,500 city of Hardin, Mont., t per cent bonds, which are being offered at 100 and interest to yield 6 per cent. These bonds, are an obligation of improvement district No. 17. which embraces the entire city. Hardin is the county aeat of Big Horn county, southern Montana. Also $4000 Musbel shell county, Mont., special Improve ment district No. 1. $ per cent bonds. Thesa are due January 1. 1930. and are an obligation of the town of Mus relshelL These bonds are being of fered at 100 and interest to yield the lull per cent. Blyth. Witter Co. are offering an attractive lot of provincial bonds- as follows, to "j-ielcl 7 per cent. The is sues are of the provinces of British Columbia, Alberta, Manitoba and Sas katchewan. Carstens A Rarles. Inc.. are offer ing to investors $25,000. 5H per cent bonds of union high school district No. 1. Morrow county. Or., maturing 1940. price to net investors 6 per cent; $5000 Clarkia county, Idaho, highway district per cent bonds maturing 1930-38 sold to net Investors per cent; $9000 Chelan county. Wash., general obligation road bonds matur ing 1910-33 selling. to net S per cent; $10,000, Kennecott Copper 7 per cent secured notes maturing 1930 to net and a varied list of Canadian pro vincial and government bonds. w The $11500.000 preferred stock issue f Foster & Kleiser company, now feeing offered by G. E. Miller Co.. Is meeting with unqualified success. S. W. Straus & Co. have underwrit ten a first mortgage 6 per cent bond issue of $750,000 for the Roxford Knitting company of Philadelphia. The average operating earnings of the company per year for a period 01 years, after federal taxes and reserves for depreciation, have been i79,ouo. This is about four times the greatest annual interest charge. Word has Just been received by Freeman, Smith & Camp company that they were awaited the $60,000 bond issue of Davis county drainage district No. 1. In Utah. The district is eight miles from Salt Lake City and is known as the garden spot of the state. These are 6 per cent bonds and mature from 11 to 20 years. The offering price has not been fixed. The same company also purchased Lincoln school district. Sacramento county, Cal., per cent bonds which mature 1928 to 1935. Another Issue purchased was the Union high school district of Kingsburg, - Cal.. of $75,000 $ per cent bonds, the money to be used for the construction of a union high school. The same company has been awarded the bonds of Pacific county drainage district No. 3, located in southwestern Wash ington. These bonds run for ten years with the option of retirement after five. Morris Brothers Buy. The government and municipal bonds purchased by Morris Brothers, incor porated, for the week just closed in. lude an issue of $34,000, city oi Kelso. Wash., 6 per cent water reve ue bonds, dated March 1. 1920, and ue March 1. 1935, denomination $1000, which are offered at par and inter est to net 6 per cent: $160,000 Port of Bay City, Or., 6 per cent general ob igation bonds, dated May 1, 1919, and maturing serially . without right of prior option, May 1. 1925, and term! ating May 1, 1934, denominations 1000, $500 and $100: these are being ffered to net 5.25 per cent; an issue of 20.000, city of Iona, Idaho, 6 per cent waterworks gold bonds, dated June 1, 919. and due June 1, 1939, optional for redemption after June 1. 1929, de- omination $1000; these bonds are ffered at par and interest to net 6 per cent: an issue of $25,000, city of Milton. Or., 20-year 5M: per cent gen ral obligation bonds, dated December 1919, and due December 1, 1939, de- omination $1000. $16,000 of the mount of these bonds is to provide funds with which to pay for paving street intersections and $9000 to pro vide funds for the improvement of the present waterworks system. These bonds are beijjg offered to net oi per cent. Among the Canadian bonds pur chased by Morris Brothers, incor porated, is an Issue of $250,000 of the government of the province of Man itoba, which are five-year 6 per cent gold bonds, dated January 2. 1920. and due January 2. 1925, denomination $1000, and are offered at 95.84, to yield 7 per cent. V. S. Naval Radio Reports. (All positions reported at 8 P. M. yester day unless otherwise indicated.) WIND B FOR, Astoria for Callao. 170 miles south of th Columbia river. WAHKENA. Columbia river for San Dleso, 4.rrt miles north of Kan Francisco. MULTNOMAH, San Francisco for Seat tle. 130 niilis from Seattle. C. A. SMITH, San Francisco for Coos Bay. 2K1 miles north of San Francisco. SPOKAXK, Wilmington for San Fran cisco. l.Vi miles from an Francisco. MLVKR 8HEL.U Martlnex for Portland, 331 miles north of San Francisco. AVAhON, Raymond for San Francisco, 300 miles north of San Francisco. HA RT WOO D, Grays Harbor for San Francisco, 14ti miles north of San Fran cisco. SANTA IXEZ. Belllnaham for San Fran cisco. 105 miles north of San Francisco. JOHANNA SMITH. Coos Bay for San Francisco, luo mites north OX ban Francisco. KLAMATH. San Francisco for Portland. 315 miles north of San rranciaco. El.KHORN. San Francisco for Honolulu. 7S2 miles from San Francisco at 8 J?. AI., r ebruary 21. MANOA. Honolulo for San Francisco, 817 miles from San Francisco at 8 P. M., February 21. WEST NIER, San Francisco for Hono lulu. 6?9 miles from San Francisco at 8 P. M.. February 21. COI.USA. San Francisco ror Honolulu, 2S mile from San Francisco at 8 P. M., February 21. TRIPP, bound for Yokohama, 77S miles from San Pedro at 8 P. M., February 21. WEST CAiOTK, nonKKons lor Mono- lulu. 4S0 miles west of Honolulu at 8 P. M. February 21 ASTRAu San Pedro ror snangnai. ziss miles from San Pedro at 8 P. M-. Febru ary 21. NiTT ANU. Pan Francisco xor sienna. 2S0O miles from San Francisco at 8 P. ., February 21. ENTERPRISE. San Francisco for Hllo. .I.i4 miles from Saa Francisco at 8 P. M February 21. RICHMOND, tosrtne: barge 95. Richmond for Honolulu. 424 miles from San Fran- CI.AOKAMAS. Portland for Balboa. 540 mite from Portland. PRESIDENT. San Francisco for Seat tle. :;no miles from Victoria. WHITT1ER. Ssn Luis for Oleum, 17 miles south of Oleum. ALLIANCE, San Francisco for Hazatlan. 13", miles west of Ssn Pedro. STORM KING. tug. towing motor schooner Oronlte. Ssn Pedro for San Fran cisco. 120 miles from San Francisco. ADMIRAL DEWEY. Los Angeles for San Francisco, 121 miles from Low Angeles. FRED BAXTER. Everett for San Pedro. 133 mile from San Pedro. TOSE MITE. San Francisco for Seattle, no mile north of San Francisco. EL SEC.rXDO. Richmond for Point wells. 70 miles north of Richmond. NEHALEM. San Pedro for San Fran cisco 10 miles south of San Francisco. PORTER. Everett for Gaviota, 85 miles from Everett. DILWORTH. San Pedro for Seattle. 519 miles from San Pedro. LANSINO. Portland for Port San Luis. 200 miles from Port San Luis. F. BUCK. Linnton for Monterey. 85 miles from Monterey. COLOMBIA, from the orient. 948 miles from San Francisco at 8 p. M Febru ary ii. AN1WA. Portland for Balboa. 1090 miles south of the Columbia river at 8 P. M.. February 21. WALLINOFORD. San Francisco for Honolulu. 226 miles from San Francisco at S P M-. February 21. J. A. MOFFETT. Seattle for San Fran cisco. 25 miles from Seattle. OAPT. A. F. LUCAS. Bremerton for Richmond. 72 miles from Bremerton. Columbia River Bar Report. NORTH HEAD, Feb. 82. Condition of the bar at P. M. Sea smooth; wind northwest, SO miles; clear. , Investigations are now under way, according to A. I Haley, engineer of the port of Vancouver, Wash., leading to the development of coal fields here tofore dormant within easy access of the Columbia river basin, which would supply to Portland and the ports of the Columbia river an un limited quantity of cheap fuel and place them beyond the necessity of depending upon outside sources for their fuel. "Within the Columbia river basin, about 78 miles from Portland and Vancouver," said Mr. Halev. "there are available large deposits of coal suitable for ships' bunkers and fuel tor industries. "Southwestern Washington, 78 miles from Portland and Vancouver, has been known for a long time to have large areas of bituminous, sub-bltu mmous and lignite coal. Near Cin nabar, however, an extensive deposit of bituminous and sub-bituminous coal has been exposed, glacial action having eroded the lignite formation from the surface, bringing into view tne earlier sandstone and expos seams of coal equal to the best dis covered anywhere in the west. Thi surface croppings had been the source of supply for different military posts in western Washington for man: years before the country became set tied, and that the properties have Been dormant so long Is due to th fact that there has been concerted effort on the- part of the coal an transportation companies to keep prices at as high levels as possible by discouraging development of new neias. Good Coke Produced. "Shipments of this coal sent to Connellsville, Pa., and made into coke showed the coke had a hard body carried a heavy burden and stood fast driving in a blast furnace for the making of steel products. "A number of tests for by-products made from shipments averaging about 30 per cent volatile matter showed that it equaled most of the coals pro duced in the United States for tar, oils, pitch, benzol, phenol, ammonia, creosote and gas. Tests made Sacramento and San Francisco for steam purposes showed that it was o excellent quality for locomotives an steamships. "Development of the Pacific coast has been much retarded by lack o good coal for steam purposes and for coke for smelting ores and manu facturing iron and steel products, Most of the coke has been brought from the Atlantic coast, Australia an ports on the east side of Asia. number of attempts have been made to establish steel works In western Washington, but these projects had to depend upon imported coke, an failed. "With development of this large deposit of good coking coal suitable for iron and steel products and ores. the future of the manufacturing in duatnes of the Pacific Northwest assured, and the owners in securing the property had this in view. Anthracite Also Found. 'On Summit, Carlton, Muddy and Skull creeks, the extreme head tribu taries of the Cowlitz river, are found, the anthracite coal deposits, a meager description of which is found in Unit ed States Geological Survey bulletin No. 474, and between Cinnabar fields and the anthracite district are found hematite iron, extensive deposits of oxidized ore being exposed, and from its use as paint by the settlers in the immediate xicinlty it is evidently of good quality. At the headwaters of Tilton river, on Lightning or Devils' mountain, so named by the Indians from the freakish pranks of lightning about Its peaks, is a large deposit of solid hematite ore that can be seen for miles. "This particular region is covered with the finest timber in western Washington, and the adjacent streams. many with falls of from 200 to 300 feet wil provide cheap power for fu ture industries. The prospector has done his part in finding and exposing these vast resources, and they now await the capitalist with the money and courage to make them useful. "At the present time transportation Is available. The Northern Pacific Great Northern, Oregon-Washington Railway & navigation and the Chi cago, Milwaukee & St. Paul railways all reach cnenans. Tne Cowlitz, Che halis & Cascade railway at present being constructed from Chehalis east, Is within seven miles of the property; the Newaukum Valley railway, build ing east from NapaVlne, Is within nine miles ,and terminus or racoma east ern railway, at Morton, is 10 miles east. Surveys have been made and right-of-way purchased." LINER IS FROM ORIENT STEAMER WAWALONA LEAVES ASTORIA FOR PORTLAND. TcstfscI Coming From Japan After Touching SercraJ Far Eastern Ports Brings General Cargo. The steamer Wawalona, operating in the Oriental service of the-Admiral line, reached Astoria at 3 A. M. yes terday and left up for the St. Johns municipal terminal at 10:30 in the morn in sr. She brings a cargo of general freight from the far east, a portion cf the cargo being: intended for re shipment to the eastern part of the United States. The Wawalona comes direct from Japan after touching at a number of Oriental ports. The steamer Coaxet of the same service left Japan the day following the Wawalona and reached Astoria yesterday afternoon. . She also car ried general cargo. FAST ASTOR1AX TO BE PCT OX River Passenger Steamer to Ply Between Here and Astoria. Regular eervlce with the fast pas senger steamer Astorian, which is to operate between Portland and As toria, will begin about March 1, ac cording to announcement made yes terday. The Astorian, formerly the Nisqual ly, which came up from Puget sound to go on the Columbia river run, ia now tied up to the Tylor- .. street dock, after tetng brought up from Astoria Saturday. The plan is for the steamer to make daily round trips -between Portland and Astoria, stopping at Cat h lame t and Skamakawa. She has recently undergone complete overhauling in preparation for the new service. She is to be given a new coat of paint before being put on the run. Pacific Coast Shipping Xotes. SEATTLE, Wash., Feb. 22. (Special.) With no agreement in force and both the employers and workers refusing- to make concessions in the controversy over con ditions of labor on the waterfront, vessels In Seattle harbor were handling cargo as usual today, but they were carriers which arrived in port while the old conditions were in effect. The agreement between the Northwest ern Waterfront Employers' union and the International Longshoremen's association expired Friday midnight and yesterday none was in force between the employers and workers. With a cargo of 6000 bags of sugar and 400 tons of miscellaneous freight, the steamship Multnomah Is due In Seattle tomorrow from San Francrreco. The vessel wili berth at pier 4, the Parr-McO.rmlck terminal. The vessel sailed from 8an Francisco last Thursday night. The steamship Phyllis will Ball from San Francisco February 26 with a cargo of su gar an d miscellaneous frel gh t for the Parr-McCormick terminal In Seattle. Bids were received yesterday by the shipping board for alterations to the Japanese-built steamship Eastern Crag, now in port from the orient. A new pilot bouse and chart room are to be built, the crew quarters rearranged and the vessel given a general machinery overhauling. The bids were referred to the bead office of the shipping board. The steamship Cordova, of the Alaska s teams mp company, arrived in t'aiiao Peru, yesterday from Seattle, according to a cable message received today by the company from Captain C. V. Westerlund, master of the vessel. The Cordova is making one voyage to the west coast f South America under charter to Interests represented by the Thorndyfee-Tren holme company of Seattle. The steamship Ketchikan, of the Alaska Steamship company, will sail from Seattle tomorrow with a full cargo of coal con signed to the White Pass and Yukon route in Skagway. The steamship Alameda, of the same company, is due in Seattle at 7 o'clock tomorrow morning. ASTORIA, Or., Feb. 22. (Special.) The Steamer Coaxet, en route to Portland with cargo from Yokohama, arrived at 10 o'clock this morning. The t earner Wawalona arrived at 2 o'clock th is morn in g from Kobe, Japan, and proceeded to Portland. The steam schooner Florence Olson, laden with lumber from St. Helens, sailed at 8:10 this morning for San Pedro. The steamer Munra, from Portland, sailed for Grays Harbor at 7 o'clock this morning and will load lumber. The steam schooner Wahkeena sailed at 10:30 today for San Diego with lumber from St. Helens. The tank steamer Oleum arrived at 9 o'clock last night from California with fuel oil and proceeded to Portland. The tank steamer William F. Herrfn. bringing a cargo of fuel oil for Portland, arrived from California at 2 o'clock this morning. J Aden with lumber from Bellineham. Westport. Wauna and the Hammond mill. the steamer Windber sailed at 3 o'clock this morning for the west coast. The steamer Rose City, bringing; frelrht and passenger for Astoria and Portland, arrived at 3:80 this afternoon from San I ran ct&co. The lumber-laden schooner MIndnra. tit short one sailor to complete her crew and i will probably not sail before Tuesday. I Alter discharging cement here, the stam I scnooner iaisy Gad shy sailed at 8:40 this morning for Grays Harbor. PORT TOWNS END. Wash.. Feb. S2. The Norwegian steamer Baja California- coming from the west coast of South America via Honolulu and San Francisco, arrived tonight and proceeded to Seattle and Tacoma, where she will load outward. The Japanese steamer Tsuruelnan Maru arrived from the orient last night and proceeded to Everett this morning to discharge a portion of her cargo. She will then shift to Everett to discharge the remainder. Her arrival marks the entry again of the Mitsui company In the Puget sound oriental trade. The United States lightship Umatilla arrived this morning from her station on Umatilla reef, proceeding to Seattle to be overhauled and take on a supply of tueL SAN FRANCISCO, Feb. 2. (SneciaU The Admiral line steamship Curacao, Cap tain red urooKs, sailed today for Maz atlan and ports of Mexico and Central America with 40 passengers In all elacees. neany a tun cargo or general merchan dise below the hatches and a purser who was prepared to handle any rroublemak era during the voyage. Carl St rout is the purser, and he believes in preparedness because of his unhappy experience during tne last voyage, when two or the crew, while Intoxicated, attempted to kilt him and then throw his body to a school of hungry man-eating sharks alongside. A six-shooter in the hands of Captain Brooks saved the life of St rout, but the margin was so small at the time that the veteran purser has been Instructed by the officials of the Admiral line to carry revolver so that in the event of hos tilities it will not be necessary to wait for the captain, who might be too far away to render aid. Incidentally, before the denartnre of the Curacao it was learned that Strout had another Barrow escapo from the sharks. He was going ashore at Champerico and slipped from the small boat and fell Into the Pacific. There were no leas than four big sharks within 20 feet, but, be fore they could slexe the nimble feet of the purser the steamship man managed to get back into the boat. It was so hot at the time that the drenched clothing of the victim had dried completely before arrival at shore, and the time of passage was only 20 minute. The Curacao will make a call at Wil mington and take on additional passen gers and enough freight to fill the holds. The little liner arrived on Friday and by working the stevedores day and night the turnover here was accomplished in the record time of 64 hours. This is the best time known at this port, all things considered. The Curacao was dispatched by Assistant Port Captain Harris and As sistant General Passenger Agent Brittan. Captain L N. Hibberd, supervisor of the sea-training service of the shipping board, ia fighting for the passage of the Rowe bllt now being considered by congress According to the bill as now being con sidered in committee, the seamen' act Is so changed that American boy may re ceive a seaman's certificate after gradu ating from th shipping board school and then serving nine month on deck, instead of having to serve three years, as he does under the present law. Hibberd told the committee that he considered ridiculous the fact that a boy could serve two years and get a third officer's license and yet had to eerve three years to obtain a cer tificate thas would be Inferior to a more youthful one. Movement of Vessels. PORTLAND, Feb. 22. Sailed at 5 P. M. Steamer Wapama. ror San Pedro, via San Francisco and St. Rerene. Arrived at S P. M. Steamer W. F. Herrin, from Gaviota; arrived at 8 P. M., steamer Wa walona, from Kobe, via JTokobama; ar rived at midnight, steamer Coaxet. from ASTORIA, rb. 22. Arrived at :S0 and left up at 5 A M.' Steamer W. P. Herrin, ! from -Gaviota; arrived at S A. M., steamer1 Wawalona, from oriental ports. Sailed at 8 A. M., steamer Florence Olson, for San Pedro. Arrived down at 6 and sailed at 7 A. M. Steamer Munra, for New York, via Grays Harbor. Sailed at 10:30 A. M Steamer Wahkeena, for San Pedro ; left up at 10:30 A. M.. steamer Wawalona, from oriental ports: sailed at 8:40 A. IS.. steamer Daisy Gadsby, for Grays Harbor; sailed at 11:50 A. M-., steamer Windber, for Callao, Peru. Arrived at 8:20 and left up at 8 P. M.f steamer Rose City, from San Francisco; arrived at S and left up at last night, steamer Oleum, from San Fran cisco; asrived at noon and left up at S P. M., steamer Coaxet, from oriental ports. SAN FRANCISCO, Feb. 22. Sailed at 4 P. M. yesterday Steamer Klamath, for Portland. COOS BAT, Feb.21. Sailed at J2:4 P. SI. Schooner K. V. Kruse, in tow of tug Relief, for the Columbia river. SAN PETRO, Feb. 21. Arrived Steam er Nome City, from Portland. Sailed Steamer Hatico. ror tne uoiumma river. COOS BAY, Or Feb. 22. t Special.) Sailed Bandon for San Francisco at 2:S0. SEATTLE, Wash., . Feb. 22. Arrived Steamers Admiral Farragnt, from San Diego; Ketchikan. from southwestern Alaska; Lyman., Stewart, from San Fran cisco. Sailed Steamers Eastern Moon, for New York; Queen, for San Diego; J. A. Mofett, for San Francisco. Marine Notes. The teamr Munra. which 1p to load FREE FROM ALL DOVIMOS GO VERA M EXT TAXATIOV Do MotTal le Chances Men engaged in the sale of Government and Municipal Bonds, as we are, often stop and wonder why investors take such tone chances in baying storks and high!; speculative bonds, when there are available such unquestioned securities as th CANADIAN BONDS, yielding 7 upon the investment , DO NOT TAKE CHANCES with speculative securities invest only in bonds like these, where your interest is assured and your principal guaranteed. Behind thete bonds are taxable resources from ten to fifty times the indebtedness outstanding. SAFER investments are not obtainable. Pr C.tit Bate J. 000 Alberta. Province of - i 1SS.000 Manitoba, Provlnc. of.... 231,000 Regina, City of. Province of Saskatchewan. . 4.000 Regina, City of, Provinca of Saskatchewan.... 4 i 10.000 Saskatoon, City of, Saskatchewan. School...... -. 15.000 Vancouver. City of, Province of B. C 4 4.846 Vancouver, City of, Provinc. of B. C 4M 7S Vancouver. City of. Province of B. C... 4fc 11.000 Victoria, -City of, Province of B. C 4 1,000 Victoria. City of. Province of B. C 4H 1.000 Victoria, City of. Province of B. C 4V, S.000 Victoria. City of. Province of B. C. I 2,000 Victoria, City of. Province of B. C .... 7.000 Victoria, City of, Province of B. C ( 29.000 Victoria, Pity of. Province of B. C t S.000 Greater Winnipeg- Water District............. t T 1,7 00 Greater Winnipeg Water District I 4.000 Greater Winnipeg Water District i 1,000 Greater Winnipeg Water District. 4 6.000 Greater Winnipeg Water rii.mt , . I 8,000 Greater Winnipeg Water District.... Maturity Price Tleld PA ISM 104 JJ U:t 5I4 7.04 M8 12I 7.S7 7.0 J J 1934 00 44 7.04 3i 19S0 S7.ll 7 04 M&3 1422 1 01 7.04 Jl HIS 1(7 7.00 K4YA lfli M 14 7.44 J A J 191-3 1101 7.00 JAJ lS:i 4214 7.04 J J 1423 SI 14 7.00 M68 1411 S5S 7 04 MAS 1924 M H0 7.04 MAS 1427 44.14 74 MAS 19C4 ft 91 7.04 JAJ 1921 47.1 7 0 JAJ 131 44.44 7.44 KAA 193 4 47 7.0 JAJ 1923 47 01 7 04 Jl.D 121 4 It 7 0 JAJ 114 14.(1 7.0 Bl'RGLAR AND FIRE PROOF 9 ATE DEPOrT BOXES FOB, RETT MORRIS BROTHERS, THE PREMIER MVMCIPAL BOND HOCSR CAPITAL 0E MIL1.IOX DOLLARS MORRIS BriLDING, SOD -11 STARK STRKRT. BETWEEN FIFTH AD SUTtt Telrpkonei Broadway 21.11. ttatabsVked Over a Qnartrr Cratary. Inc. ties at Grays Harbor for New Tork. sailed from Astoria yesterday morning. The new schooner K. V. Kruse Is due to arrive in the river from Coos Bay today and will take on a cargo of lumber at Tongue Point for Sydney and Newcastle, An.trslla. The Kruse was built at Coos Bay She got away from there In tow of the tug Relief yesterday at 12:44 P. M. The tanker W. F. Harrln got Into Port land harbor with a lud of oil yesterday f.nm llBVinlB The steamer Windber, which Is carrying lumber for Callao, feru, got away irom A.tnrl .t ll:fiu yesterday. The steamer Rose City, from San Pran--l.,-., rot Into the river yesterday after noon and Is due at AInsworth dork this morning with passengers and freight. Tides at Astoria Monday. High Low. 9:00 A. M...S8 feet:S7 A. M...0S foot S:23 P. M. . .7.5 feet B:82 P. M...1.1 feet Read The Oreeronian classified ads. Safety of Principal In the selection and purchase of securities to offer to its customers, this institution primarily considers the above fundamental requirement. AUCTION SALES TODAY. AUCTION SALB. Tuesdays, Thursdays.' Sat., at 2 P. M. All kinds of furniture and cooking utensils. 211 2d St., between Taylor ana saimon. st Wilson'. Auction Mousa. IS A. fumlturs. 1A9-171 Secood st- MEET1NO NOTICES. MT5MBERR OF GBORfJB WKICHI POST. G. A. R TAKE NOTICE After Wednesday, February 25, post meetings will open at 7 o'clock P. M. nntll April 1, when 8 P. M. will be the time of opening. A. C &LOAN, Adjutant Monarch. CUL REAZFE GROTTO, NO. 63. M. O. V. P. E. R. Stated meeting this (Mon day evening at 8 o'clock, in Pythian hall (formerly Ma sonic temple). West Park and Yamhill streets. En tertainment and refresh ments. Visiting prophets welcome. By order of the J. H. BUTLER. Sec. WILLAMETTE LODGE. No. 2, A. F. AND A. M. Special communication this (Monday) afternoon' at 5 o'clock sharp. Work In M. M. degree. Dinner will be served tn the banquet room at 6:R0 o'clock and work will be resumed at 7:30 P. M. visitors elcome. W. 8. WEEKS, Sea. HARMONT LODGE. NO. 12. A F. AND A at. Special communication this (Monday) eve., at 7 o'clock. Work in the F. C. degree. visiting brethren welcome.- W. M. DE LIN. See. We recommend for investment: Due To Yield Snake River Irrigat'n Dist, Idaho, 6s 1932-1939 6.00 City of Jerome, Idaho, Imp. 7s 1924-1929 6.50 A. G. Spalding & Brothers 1st Pfd. . 7.00 Province of British Columbia 6s. . . . 1922 " 7.25 (Guaranteeing City of South Vancouver) Our March Investment List indicating fifty-seven issues of carefully selected Municipal and Corporation Bonds and First Preferred Slocks is ready for distri bution. We mil gladly mail you a copy upon request. , umbermePiSYru Bonds -Truss-Acceptances upitai sk surplus ooo.oo , S&rn-&ncisco lserwr,s Blda. Porlarvd. Oreqorw LIBERTY AND VICTORY BONDS Jf yen must sell your Liberty er Victory bonds, sell to as. ir you raa buy more Liberty or Victory boads, buy from aa. On February 21 ItiO. the closing .New York market prices were as .Z 0 ' ,L"er fr sovernlng prices for Liberty and Victory bonds all evsr tna world, and the highest. V e advsrttie these prlcen dally la order that yea niV.f.'WBy" ..nlw ,h N,w "rk market and the eiaot value ef sour Liberty and Victory Honda: Market.., Interest , 1st 1st 34e ID 6.D0 $90.40 .M .73 Tntal.. .$!. I9I.1B 11)1.39 W2 00 1 J n.ri $2.7 IKS T l l When baying ws deduct B7c on a SSI bond and Si.to on a llouo bead. We sell et the New York market, blue the accrued Interest Burglar and Fireproof hefs Deposit Reieo for Beat Open Lintll P. M. a aaturdase MORRIS BROTHERS, Inc. rhs Premier Mun:rlpal Bond Holme. C apital tine MllUoa Dollars .Morris Kldg.. SO-51l mark Pt., Ret. .Mh and th. Telephone Broadway Kstabllsked Over a f)uartr ef a Cssttory. vtlej CANADIAN BONDS Due to present exchange rates, general obligation bonds of Canadian Provinces (correspond to our bta.es; may De pur chased at exceDtionallv attractive prices. Principal and interest .. . . , . 1, xt ir i tt:i.j oi.i.. of the Hollowing Donas are payaDie m iNew j.ont in uiuieu cwttes gold: 4.000 Province of Brltlnai Columbia 1S.OOO Province of British Colombia S'a. KKM Province of Alberta 5V4'. 3.OD0 Province of Manitoba S'a 24,333 Province of Saskatcaeiran 4'a..... One 11)23 jnzx ! IDS 1D23 Price 7 M'-4 ! HOVs Yield T.00 7.00 TOO". 7.00 Wire orders may be aeat at ear expense. BLYTH, WITTER & CO. Government, Municipal and Corporation Bonds Yeon Building , Telephone Mala 3304. NEW YORK SAW FRANCISCO POBTLASI) IX) S ANGELES LENTS I.ODGK. NO. 15. A. i AND A. M. Special rnmmunlcations this (Monday) 1:30 and 7:30 P. ef. Work In M. M. degree. County clerk's team In evening. Order W. 14. C. S. OfiSBUBY. Sec. FRTBNDSHIP CHAPTER NO. lis n. K. S. Stated communi' ration this (Monday) evening. Vincent hall, 43d and Sandy. B1XA DUNN RICE, Sec. MARTHA WASHINGTON CHAPTER NO. 14, O. B. 8. Stated meeting this (Monday), 8 P. M, E. 8th and Burnside. Social. Visitors welcome, i By order W. M. BELLE RICHMOND, Sec. J0 O D L A W N LODGE NO. 171. I O. O. . P. Meete every Monday evening. 8 P. M. at 444 Dekum ave.. Wnorilnwn balL Visiting brothera eape- cially Invite J. AROLD HART. Sao. GRAND BALL AND CARD PA RTT The social club of Portland chapter-No. 87. O. B S., will give a dance and card party in the municipal auditorium this (Mon day) evening. Grand march at 8:45 o'clock sharp. Proceeds go to the Masonic and Eastern Star home. All Masons, O. E. S. members and friends are invited. EVA J. JAMESON, Sec ARTISAN ma,sk ball Wednesday, Febru ary 23, East Side W. O. W. hall, by cadet girls of Liberty assembly. Prises. EMBLEM jewelry, buttons, charms, pins, aew designs. Jaeger Broe.. 131-8 flth at. ' FRIEDLANDER'S for lodge emblems; eiaas pins and medals. 310 Washington et. Advance Offering; $25,000 Union High School District No. 1, Morrow County, Oregon, 5 Bonds Dne March 1. 104O. Price to Yield 5 Detailed Information on Beqnest. , Tie Hoaae Bnilt Square." Qarstens & Jarles, Incorporated Third Floor TJV S. Bank Bids. I Brdw. 4108. The Bank of California. N. A. Capital $8,500,000.00 Surplus and Undivided Profits.. 8,770,683.89 Our extensive connections and complete facilities enable trs to handle all branches of foreign and domestic banking with the highest degTee of efficiency. The United States Food Administration having completed arrangements, we are pleased to announce that we are ia a position to provide food drafts on warehouses in the follow ing cities, for which we shall make no charges for commission or exchange: Hamburg for Germany Vienna for Austria Warsaw for Poland Budapest for Hungary Prague for Czecho-SIovakia Further particulars on application. PORTLAND BRANCH Third and Stark Streets The value of the American Dollar YOUR OPPORTUNITY 7 We have for sale United States Food Administration drafte, which can be bought for $10 or $50. These can be sent by the purchasers to friends or relatives in Europe who can exchange them for staple food supplies in the following- cities, where warehouses have been established: - WARSAW VIENNA BUDAPEST PRAGUE HAMBURG This is a safe and practical method of sending relief to famine- etricken Europe. We make no charge for our services. We shall be pleased to give further particulars upon application. The Canadian Bank of Commerce Portland Branch - Fourth and Stark Streets 22.40 City of Vancouver. B. C 4s Feb. 1. 19'J SS.dl to yield ever 7 80.000 Province of Alberta V4a Dec 1. 1911 f 1.71 to yield over 7 16,060 Province of Saskatchewan.... 4s July 1. 11.13 to yield 'n The recent low point In Sterling- enabled as to pick nw thse odd lots of old eaoned Issues at prices offering- extraordinary Interest. The market for sterling ha already shown a recovery rang-lng 10 to 17 points. Few of these bonds are available now sven at the advanced value of Sterling. At the above prices thee bonds offer unpre cedented Investment opportunity. PATABLB IN TJ. 8. DOLLARS IX NEW TORK. TAX EXEMPT IN CANADA Ask. for details. Wire erdera "eolleet Freeman Smith & Camp Co. second njoon NORTHWESTERN BANK BUILOIN3 eta r. a. cisc Main SiFCfVriBST LET O. W. T. MUELLHAUPT & CO. THE INCOME PRODUCERS INCREASE YOUR EARNINGS TU Broadway 8838.