Image provided by: University of Oregon Libraries; Eugene, OR
About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (March 30, 1920)
THE -MORNING OREGONIAN, TUESDAY, MARCH 30, 1920 iA CT ON E !S AID TO BUYER Certificates From Shippers Eliminate Much Trouble. INVOICES ARE VERIFIED Dispute Over Shipment of Xo. ! Corn That Proved Sample Grade Settled by Inspector's Paper. Grain buyers who receive inspection cer tlficates substantiating Invoices covering porchases arold trouble, say federal train supervisors of ths United States depart ment of agriculture. This ease, which re cently came to tueir attention. Illustrates tba point. A. ear of corn Invoiced as No. 3 yellow, received In an interstate shipment, graded 'sample grade yellow on arrival. This re sulted in a heavy financial loss to the re ceiver. He failed to get an inspection cer tificate from the shipper, who, neverthe less, stated that ttfe corn shipped was No. S yellow. After investigation by the fed eral grain supervision office, showing that the car had been graded sample grade yellow by the Inspector at the shipping pointths shipper found that sample grade yellow had been shipped in error, and made satisfactory adjustment with the receiver. . Shippers in many markets make a prac tice of furnishing certificates for all ship ments, either attaching them to the drafts or mailing them with the Invoices. Buy ers who understand this custom and se cure Inspection certificates eliminate many difficulties. DECLINE IS RECEIPTS FROM FARMS Floor Production Shows Little Change in Last Week Reported. . The 46th weekly bulletin covering wheat and wheat flour movement throughout the Cnited States for the week ending Iarch 18, in comparison with figures for the same period a year ago, follows: Bushels. Bushels. 1920. 1U19. 3.606.000 2.SS6.00 4.129.000 S.014.000 6&SI,O.0O0 Barrels. 2.006,000 2.134,000 SS.756.000 Bushels. 189,807.000 203.038.000 13,231.000 Wheat receipts from Farms Wheat receipts from farms previous - week "Wheat receipts from farms June -i to March 19 712.71S.000 " Barrels. Flour produced dur ing week .1,926,000 Flour produced dur ing previous iek 1,911,000 Flour produced June 27 to March la. . .103.SS1.000 Bushels. Total stocks wheat ill elevators and mjlls 169.176.000 Total stocks wheat fr all elevators and .. mills previous week 174.066.000 Change for week de- -rease 4.890.000 Exports of wheat and flour, July 1, lull), to" March- 19, 1920, amount to 90,873.000 bushels of wheat and 12,426.000 barrels of flour, making a total equal to 146.791.000 ' bu&hels of wheat compared with 127,090,000 bushels of wheat and 18,S20,UO0 barrels of . flour last year to March 19, 1919, the first It days of March being prorated from the : monthly total, which makes a total 211, 779,000 bushels of wheat. Last year's total flour exports Include American relief ad ministration and American expeditionary force shipments. ICOBN' STROM. KB ON LOCAL BOARD Bid on Sacked and Bulk Oats Unchanged From Saturday. - Corn was firmer on the local board yes torday. March bids were advanced fl and April 23 cents. Bulk and sacked oats were unchanged. Iecember barley sold sharply lower at San Francisco at $2.5-. At Chicago May barley closed 1 cent higher at $1.48 i The final estimate of Canadian crops follows: Wheat production In 1919, 193. 260.400 bushels against 189.073,3.0 bush els In 191tf; oats production 394.387,000 bushels against 426.312,500 bushels in 1918 barley production 56,389.400 bushels against 77.287.240 bushels In 1918; hay production 16.348.000 tons against 14,772,300 tons in 1918. Terminal receipts, in cars, were reported by the Merchant!' Exchange as follows: Wheat. Barley.Flour.Oats.liay. graham, J11.80; valley. (11.40: straights, $11 per barrel. MILLFEED Prices f. o. b. mill, city cartage $1.50 extra. Mill run, car lots of roixea cars, ssv per ton: rouea naney, ' . n . n v . . . w , imuuu uoiicj, ft-, scratcn leea, sgo. CORN Whole. $74: cracked. $76 per ton. HAT Buying prices, t. o. b. Portland! Alfalfa, $30.50: cheat, $19: oats and vetch. l.o; vansy timothy, $27928. Dairy aad Country Froduco. BUTTER Cubes, extras, 64e per pound; prints, parchment wrappers, box lots, 67c per pound; cartons. 68c; half boxes. He more; less than half boxes, lo snore; butterfat.' No. 1. 68669c per pound at stations. Portland delivery, orainary arades. 70c: A arrade. T2c EGGS Jobbing prices to retailers. Ore gon ranch, case count. 36c; c&naiea. oc. selects, 39 - 40c. CHEESE Tillamook, t . b. Tillamook; Triplets, 32c; Young Americas, 33c; long horns. 33c. Coos and Curry, f. o. b. Myrtle Point; Triplets, Sic; Xoung Amer icas, 8214 c. Hum. TRY" Hens. 34t237c: springs. 33 9 40c; ducks. 45o; geese. 202Sc; turkeys. live, 40c; dressed, choice, ovc VEAL Fancy, 24c per pound. PORK Fancy, 21c pound. Fruits and vegetables. FRUITS Oranges, $2.7597.75: lemons, $5.5096.50 per box; grapefruit. 3.257.50 per box; bananas, 10llc per pound; ap ples. 11.00 4 per box. VEGETABLES Cabbage, 5654c pound; lAttupA i' T.-.ftrvTr oer crate: cucumbers. $1.252.75 dozen; carrots, $1.75 per sack; celery. S901O oer crate: horseradish, 15c oer pound: garlic. 40l4oc per pounu; cau flower. Il.75ia3.7S Per crate; loiuaLoeo, $4.25 per box; parsnips, $3.50 per sack nirhnliM il 7fi nr dozen: Deopers. 4U r.rtr tier nound: sDinach. $1.60 per box rhubarb, 1012c pound; peas, 15 & 17c per nnund: asDaraeus. liialsc per pounu. POTATOES Orea-ons. $5.50 6 per sack Taklmas. $696.50; sweets. 8 10c pox ONIONS Oregon. $6.509 7 per sack Australian Browns, $7 per sack. Staple Groceries. Tx-al tobblnr Quotations: SUGAR Sack basis: Cane granulated, 16c per pound; extra C, 15.60c; Golden C, 15.50c; Yellow D, 15.40c; cube, in Barrels, 16.85c: powdered in barrels, 17.45c. NUTS Walnuts, 323c; Brazil nuts. 30c; filberts. 35c; almonds, 3538c: 'pea nuts, lots 15 He: chestnuts. 25c; pecans. 32c; hickory nuts, 1516c; cocoanuts, ta per dozen. SALT Half ground. JUUC lll.ia per ion 60s. $19.60 per ton: dairy, $26.50 9 28 par ton: best refined. 60s. $36.50. RICE Blue Rose. 16c per pound. BEANS White, 84c; pink, 814 c; lima, 13c per pound; bayous, 10c; Mexican reds, 6c per pound. COFFEE Roasted, In drums. 39951& Provisions. IiOcal jobbing quotations: HAMS All sizes. 384 39c; skinned. 299 39c: Dicnic. 24G25c: cottage roll. 30c. LARD Tierce basis. 25 be; compound, 25c per pound. DRY SALT Short, eleaf backs, 25 929 per pound; plates, 23c. BACON" Fancy. 44952c; standard, $39 41c per pound. STOCKS BREAK AT CLOS GAINS ARE LOST WHEN CALL 3IOXEY ADVANCES. Bloea and Felt. HIDES No. 1 salt hides, under 45 pounds, 27c; No. 1 salt hides, over 43 pounds, '20c; No. 1 salt bull hides, Jc partly cured hides, 2c per pound less green maes, 4c per pound less; No. hides, lo per ponnd less; No. 1 trimmed calf skins, up to 15 pounds, 65c: No, trimmed kip skins, 15 to 30 pounds, 30c No. 2 skins, 2c per pound less; dry flint hides, 7 pounds and up, 30c; dry flint bulls. 20c; dry Hint call skins, under pounds, 50c; dry salt hides, 7 pounds and up, 23c; dry salt bulls, 15c; dry salt calf skins, under 7 pounds. 50c; dry cull hides and skins, half price. Horse Hides Green or salted, large, well taken off hides. 979 8.50; pony and small hides. 13. 50 a 4.25 dry horse hides. $1.5003; hides wltli heads oil, sue less. PELTS Dry lonr wool pelts, per pound, 2ocw30c; dry medium wool pelts, per pound, Z0C&25C; dry shearing pelts, each, 25c&50c; salt long wool pelts, each, 3.50; salt medium wool pelts, each, Htf 2.00; salt shearing pelts, each, J5c50o. CORN AVERAGES HIGHER STOCKS IX CHICAGO MARKET ARE AT LOW EBB. Portland Mod.. 57 Tear ago 5 Season to date. .7415 Tear aeo 6755 Tacoma Sat. ,. 5 Tear Hgn 3 Season to date..6t96 Year sco 4157 Seattle Sat. .. 2 Year ago 14 Season to date.. 5377 Tear ago 5061 .1 169 941 i: 10 S.TJS 21 S4 2S 2554 '"i 8 669 1055 414 616 165 113 628 516 is li 1763 2874 1 7 747 1092 1 3 1125 EGGS ARB ADVANCED CENTS Bayers Offer Country Shippers 87 Cents for Tbis Week's Arrivals. Competition among local egf buyers ate let possession of supplies for storage and prevent heavy shipments out of the state has put prices in this market 2 cents higher. Bids were made to country ship pers yesterday of 37 cents, delivered Port land, for alt arrivals up to and Including; next Saturday. ' The butter market was weak' and In active. A few sellers asked the old prices, but others offered cube extras a cent lower, at 64 cents. There was not much demand 'as the trade looks for an all-1 around decline about the middle of the amount of pressure was necessary to bring week. Xo Indications of Improvement in Crop Movement Export Trade in Rye and Wheat. CHICAGO. March 29. Corn averaged higher in price today, mainly as a result of scantiness of the stock on hand here. The close was unsettled, ic net lower to liic advance, with May J1.553. to $1.56 and July 11.50 V to $1.504. Oats lost He to 34c and provisions 20 to 75 cents. Absence of selling pressure character ized the corn market from the beginning. Wire service had been crippled by the tornado and with business confined almost chiefly to Chicago traders, the prevailing spirit was one of caution. In view of th small supplies here, the fact that receipts this morning gave no indication of any important increase of the crop movement tended noticeably to strengthen values. So. too, did continued export demand for rye and wheat Oats were depressed. At first provisions showed strength In connection with a stockyards employes strike that threatened to interrupt pack Ing house work. Later values were left almost entirely without support. The Chlcsgo market letter received yes terday by Overbeck & Cooks company of roruana said: Opening prices showed a slight gain over Saturday'a closing, with all option from to c higher. During the ses sion there was no special feature, as con ditions in general were unchanged. Thi market moved in a narrow range, with closing prices slightly above the low fig ures and practically unchanged from Sat urday's closing, with the exception of March, which showed a gain of nearly 2c for the day. It looks as if a gradual improvement is to be expected In the trans portation facilities and there does not seem much in tbe outlook to encourage Duying at tnis level. Oats The oats market is acting in rvm- pathy somewhat with corn and the gen eral feeling Is that it will be proper to accept profits on the long contracts on any bulges. Provisions The demand soon ran its course, however, and only a moderate . Poultry receipts were small and prices were very tlrm. Dressed pork was steady and veal was weak. ' : Corn Trading Slow In Kogland. TJte inquiry for corn in the United King dom is slow. Broom hall cables from Liver pool : There seems to be a general disinclina tion to buy at present prices, and larger shippers' offerings of plate have been pressing heavily. Argentine sorts can now be quoted at 75 shillings per quarter for April-May shipment, 73 shillings for May- June shipment, and 71 shillings and 6 pence for June-July shipment. Argen tine freights to the United Kingdom are weak and further decline in freights is reflected in the larger c L f. offerings of plate. No Important business Is passing in American mixed corn, but values are com paratively steady. New crop prospects in Argentine are excellent and a good sub stantial outturn is assured. Tbe oata mar ket in the United Kingdom continues to be affected by tbe apparent unwillingness f feeders to purchase at present prices. Bank Clearings. Bank elearlngs of the northwestern cities yesterday were as follows: Clearings. Balances. Portland .-..774..T.9 S1.8S.3.799 Seattle 6.930.8!-8 1.36D.712 Tacoma 1.075.211 267. 596 Spokane 2.2S3.S52 1.038.8M fORTLiXD MARKET QUOTATIONS. drain. Floor, Feed. Eta. Merchants' Exchange, noon session. -Bid.- Marcb. April. May. SOV.oS loU.iO 60.00 Xo. 3 whits feed Corn , No. 3 yellow .... 62.50 Eastern oats and corn, bulk Oats 16-lb. clipped S00 S1.S0 I8-IO. clipped 69.60 69.50 Corn Xo. 3 yellow 6T.0O 4.S0 62.73 RO.00 60.001 63.50 about a sharp decline. The ca.sh trade wa reported as being rather quiet. Hogs closed 20c to 25c higher than Saturday. Reported two loads of hogs sold to small packers at S15.50 to $16. CORN. Open. High. Low. Close. May Jl.56'4 II. fit,-, $1.5.H, ft.Xi-i July.... l.Sfli, j rlt 1.4cm, i.snii Sept.... 1.463i 1.47 i 1.45 5, 1.46'., OATS. May 6H .Sll'i .86 .8SH .iuij.... .a Early Market Is Irregularly Strong With Pool Operations in Speculative Issues. XBVT TORK, March 2. Stock were irregularly strong under further profes sional propulsion during the greater part of today's session but broke sharply to ward tha and when 'call money suddenly rose from tha opening rata of 8 per cent to iz per cent. Speculative Issues were again the di verting features, a few making new rec ords at substantial gains. fetmz Motor, in which rumors of a ' cor ner" persisted, advanced to 337, exceeding its previous maximum by 7 points, but closed at S2U. an actual gain of 11 points Crucible Steel rose 14 ft points to 261, but reactea 5 points, and General motors re placed an early moderate gain with a net loss of seven Points, galea vera 876.000 snares. Voreign exchange was lass stable, the London quotations falling some three cents under the recent rally, French and Italian rates also declining proportionately. Mexican Issues featured the dull bond market, government bonds of that coun try and National Railway 4fcs improving on reports that the republic is about to resume interest payment on external ob ligations. Liberty issues and the general list were irregular. Sales, par value. CLOSING STOCK QUOTATIONS. Sales. flm .eeei Bug. 1.8UO Am Can 1,500 Am Car St Pdy 16,900 Aia n s u PIQ, Am Loco Am Sm A Rfg Am Bugar Rfg Am Sum Tob.. Am Tei t Tel. Am Z L & Sm Anaconda Cop Atchison A O & WISH Baldwin Loco. 61.100 Beth Steel B. 13.700 a & S Copper. Calif Petrol .. Canadian Pac Cent Leather.. Ches & Ohio. . Chi M & St P Chi & N W . .. Chi R I & Pao Chino Copper. Col Fu & Iron Corn Products Crucible Steel. 15.400 Cuba Cane Sug 16,500 u & a roas. 4ou Kris 100 tien Electric. J.700 Gen Motors ... 3,600 ut r.o pta. . . . Gt No Ore ctfs Illinois Central lnsplr Copper. Int M M pid.. High. 89 49 y, 146 500 27 V, 4.600 106 3,400 69 1.600 1321s 6.200 102 ft boo VI 6U0 9,300 300 7.500 1,600 300 300 1,900 1 64ft 8o 172 ft 135 97ft 28 ft 39 U 123 ft S7ft 400 57 500 oSft 300 1,400 100 200 6.800 200 900 800 6.200 300 Inter Nickel.. 12.400 Inter Paper tv u boutnern. Kennecott Cop Mexican Petrol Miami Copper. Midvale Steel. Missouri Pac Montana Pow. Nevada Cop .. N Y Central .. N Y N H H Norf & West.. Northern Pac Pac Te & Tel. Pan-Am Pet.. Pennsylvania. . I'ltts s w va. Pittsburg Coal Ray Con Cop.. Reading Rep Ir 4 Steel 2,000 600 2,700 600 7oO 8lK 200 40O 300 BOO 100 200 100 8,100 900 1,200 500 100 10,700 2,1UJ Sin Oil & Rfg. 84.800 Southern Pac. 3.600 Southern Ky.. 1.000 Studebaker Co 15.700 Texas Co 6,400 Tobacco Prods 1,000 Union Pacific. 500 Untd Retl Strs 5.200 U S Ind Alco.. 8,100 U S Steel ..... 79,600 do pid oou Utah Copper. . 1.500 Westing Elect Willvs-Overlnd National Lead Ohio Cits Gas. Royal Dutch.. b7 37H 37ft 39 ft 93 ft 261 50 ft 65ft 14 160 377 814 39 ft 0ft 60 ft 96 ft 24 ft 85 17 3ft 202 24 47 29 68 15 i 75 34 96 80 40 104 ft 43 32 ft 63 20 87 ' 109 46 101 U S 2s reg. . do coupon U 8 4s reg.. do coupon Pan 3s rez. do coupon . .. eo Anslo-l-'r 5s ... 98 A T & T cv 6s. 97 Atfh cen 4s... 764 D & R G con 4s. 64 ft 108 215ft 74 ft 121 80 98 ft 105ft IIS 78 ft 54'. 24 ft 83 ft 45 105 BONDS. 101 IN T C deb 6s. 101 N P 4s 106ftlN P 8s 106ft!Pac T T 5s. Ho If a con 4-s... 1 ,400 3,100 1.400 6.200 Low, 8S 48ft 141 27 103 68 130 U 97 19 63 ft 81:4 165 131ft 95 ft 27 ft 38 ft 122 ft 66 ft 56 ft 38ft 66 36 ft 36ft 3 91 241ft 48 ft 64 ft 14 158 ft 369ft 81ft 39 90 59 93 24 ft 83 ft 17 31 196 ft 23". 47 28 ft 68 15 ft 74 ft 34 ft 96 79 40 99 42 ft 81ft 61ft 19 S4ft 105 ft 44 99 ft 23 ft 105 ft 209 ft 72ft 119 77 3ft 103 ft 112 77 53 ft 24 ft 82 ft 44 ft 103 ft Last Sale. 88 48ft 141 27 103 ft 68 130ft 97 19ft OS 81ft 131 27 ft 38 ft 122 ft 86 ft 56ft 38ft 80 37 36 ft 39 ft 91 lo3 49 64 ft 14 158ft 370 81ft 39 80 59 93 ft 24 ft 83 ft 17 31 197 23 47 28 ft 63 15 74 ft 34 96 80 40 100 ft 43 31ft 61ft 19 84 105 ft 44 99 ft 23 ft 105ft 211 72 '4 119 73 93 ft 103 113 77 53 ft 24 ft 82ft 44ft 103 ft stock. 12.5098; strawberries. Watsonville. j H ei.eu per arawex; imperial valley. per crate. Receipts Flour, 2912 quarters; wheat. 600 centals; barley, 6343 centals; oats, 1600 centals; beans, 2109 sacks; potatoea 4244 sacks: hay, 875 tons; eggs, 110,850 dozen; hides, 317; oranges, 2500 boxes. Coffee Exchange Closes Lower. for COffee f IltllT.. nnnrf at a Hotin of! S to 6 points, but rallied and active months sold about 5 to 6 points net higher dur ing tha morning, with May touching 14.530 on the relatively steady ruling of Brazil and covering. Later, however, offerings increased following reports that the labor troubles in Brazil had been settled, which would open the way for an increased movement, and talk of lower firm offers from Santos. May sold off to 14.35c and the close was 7 to 24 points net lower; March, 14.20c; May, 14.32c; July, 14.36c; September, 14.32c; October, 14.31c; Decem ber, 14.28c. Spot coffee dull: Rio 7a. 15c: Santos 4s, 2424ftC Metal Market. SEW YORK. March 29. Copper, firm; electrolytic, spot and March. 18 19c; second quarter, 19c. Iron, steady: No. 1 northern. I4748; No. 2 northern, S4546; No. 2 southern, $4243. , Antimony, S10.75C. Tin. firm: snot. 62.5oe: Anril. Mar. 62.75c The Metal Exchange quotes lead quiet; spot. 8.50c bid. Zinc, firm; East St. Louis delivery, spot. 8.40c bid. EXCHANGE IS RAPIDLY RECOVERING, AND THE SUPPLY OF OLD CANADIAN BONDS IS BEING CLEANED UP THESE HIGH YIELDS MAY NOT, AS A RESULT, LAST MUCH LONGER Guaranteed Greater Vancouver Sewer District 5s Naval Stores. SAVANNAH, Ga.. March 29. Turpen tine, firm, 12.25: sales, 28 barrels: receipts. 29 barrels: shipments, 2 barrels; stock, 1707 barrels. Rosin, firm; sales, 55 barrels: receipts, barrels: shipments, none: stock. 19,878. Quote: B. 116: D. E. P. G. $17.50: H. I. $17.55: K. $18; M, $13.26; N. $13.50; WG, ww, $19.50. Dry Goods Market. NEW YORK. March 29. Cotton goods today were strong with an advancing ten dency. Yarns were firm. Wool dress goods were quiet In first hands. Raw silks and burlaps were higher. Carpet openings attracted considerable interest. SPRING LAMBS ON SALE FIRST OFFERINGS BRIXG AAD $2 0 AT YARDS. $19 Cattfe 3Iarket Is Spotted and Hogs Are Steady- Large Run Over Sunday. The livestock market opened sctlvo for the week with a good run of 89 loads. Spring Iambs made their first appearance nd sold at 119 and 120. The sneep ana lamb market in general was steady. Cat tle dragged at the beginning of business, but trading improved later. The cattle market was spotted, weak in soma lines and strong elsewhere. A top of $11.60 was quoted on steers, but one extremely fine load brought $12.25. Hogs were teady with a small run and prices un changed. Receipts were 1731 cattle, 203 calves, 644 hogs and 2424 sheep. The day s sales were as follows: Price 94.03. To Yield 7 .25 These splendid three-year bonds are general obligations of the district, which includes Vancouver, Point Grey, Bur naby and South Vancouver. In addition, they are secured by bonds guaranteed by the Province of British Columbia. Dominion of Canada, Guaranteeing Canadian Northern Ey 5Ys. Yield about Canadian Northern Ry. Equipment 6s. Due 1921-27. Price to yield. INTEREST AND PRINCIPAL PAYABLE IN U. S. GOLD COIN Bonds -Truss-Acceptances Capital s. Sur-plus) Mos.eos . UfVrroaCO lk.rstteiBldT SVTrl4 PorIrd. Orqor. Under Supervision Banking Dept., State of Oregon 7 7 6 steers. 14 steers. 1 steer. . 2 steers. 10 steers WL Price. 948 $ 8.001 785 8.50 1020 10.00 1035 9.50 1036 10.25 28 steers. 1001 9.85 2 steers. 1145 10.75 26 steers. 1140 11.50 steers. 1013 ll.OOi 3 steers. 1175 11.80 13 steers. 1195 11.30) 1 bull. S P cv 6s. So Ry 5s .... U P 4s 'U S Steel 6s.. , 92 , 74V4 . 53fe . 85 S9 '102 . 84 , 82 , Bid. Mining Stocks st Boston. BOSTON, March 29. Closing quotations: Ailouez 34 Aris Com 12 Calu & Aril 64 ulu & Jlecla. .3M Cop Range .... 43 East Hutie ... lo 'ranklin .. sle Royalle :ake Copper . .. 4 Mohawk 67 North Butte Old Dom Osceola Quincy ....... Superior Sup & Boston. 3 H ishannon 33 Utah Con .... Winona Wolverine 1611 83 47 56 64 H4 8V. l 18 Money. Exchange, t'tr. NEW YORK, March 29. Mercantile pa- ner. 6U.fi6 Der cent. Kxchsififlre lrreru ar. sterling. Tu-uay bills, $3.l0H; commercial 60-day bills on banks, $3.90 V; commercial ou-oay onis, $3.89;i; demand. 3.t: cames, ej.a-i-. Francs, demand 14.40. cables 14.46; Bel gian francs, demand 13.86, cables i3.t4; iiilrior. demand 31. CaoieS is: lire. e- mand 20. 02. cables 20: marks, armaria 4. cables 1.35. Sterling bad a severe ecline In the late dealings. Quotations nr! Kterllns-. 60-day Dills. H-MH; com Tnrrint GO-dav bills on banks. $3.84i; conr mercial 60-aay bills. $3.84-5. 1 oemana, : Rs: fAhles. S3. SO1. Government and railroad bonds Irreg ular. . . , Time loans strong: 60 oays, au oays ami r mnnthi Sfc.8 OCX Cent. Call money steady. High. 10 per cent; low 7 n rent: ruling rate. per cent oslng bid, v per cent: onwcu ai ju uni: last loan. JO per cent Aiier iuo nse the following prices were maoe: nrh i nor cent: closing bid. li per cent. offered at 12 per cent; last loan, 12 per cent. Bank acceptances, o per cenu Bar silver, $1.264. Mexican dollars, B7c IvONDON, March 29. Bar sliver 71 d per ounce. Money, per ccni. t Discount rates, short and three months bill 55s Per cent. Swift A Co Stocks. Closing prices of Swift Co. stocks st Chicago were reported oy uveroeca Cooke company of Portland as follows: Bwlft A Co 'g .lbbv. McNeill SC U1DDJ -"78 wift International ational i.eatner 44 14" MESS PORK. May.... 37.25 37.25 36 50 36.50 July.... 37.50 37.50 86.60 36.60 LA RD. May.... 21.15 21.15 20.70 20 80 July 21.90 21.92 21.47 21.52 SHORT RIBS. May.... 19.10 19.17 18.80 18.90 July 19.70 19.70 19.30 19.37 Cash prices were: WHEAT Government basis. $2.20 per bushel. FLOUR Famny patents, $13.15; bakers Wheat No. 2 hard, $2.58; No. S hard. $2.25; No. 2 mixed. $2.50. Corn No. 2 mixed, $1.63; No. S mixed. tl.6mei.63. Oats No. 2 white. 9514696X0; No. 3 Rye No. 2. $1.79i. Barley $1.36tf 1.67. Timothy seed fr 12.50. Clover seed $45 3 59. Pork Nominal. Lard $20. Ribs $1S19. Minneapolis Grain Market. MINNEAPOLIS, March 29. Flax. $4.81 64.80. Dnlo'h Linseed Mtvket. DtJLTJTH, March 29. Linseed, $4.88. Grain nt San Francisco. SAM FRANCI8CO, March 29. Grain- Wheat, $3,66 2-5 per cental; oats, red, $3.05 r3.iv; Daney, leea, sj.iv vs-io; corn, Cali fornia yellow, $393.25. Hay Fancy light five-wire bales, 138 a 41 per ton; No. 1 wheat or wheat and oat hay, $35038: No. 2, $3335: choice tame oat hay, $37040; other tame oat hay, $37040; wild oat hay, nominal: barley hay, nominal; alfalfa hay, $32037; stock hay, $29 0 32; Oregon wheat and oat mixed. $27029; No. 1 barley straw, 70c U per bale. Phone your want arts to Th Oreero. Aard wheat. lJ-Ji, woo wheat, 12,i nian. 4Iin 7Qj9. A tOSi, Liberty Bonds. NEW TORK. March 29. Liberty bond Mutations were: 3'is. i.3; Iirst is, $90.50; second 4s. $S9.40'. first 44s. $90.52; second 4'.is, $89.80; third 4,4s, $92.78; fourth 4',is, .$89.76; victory 3s. $97.52; victory, 4s, $i.Q4- SAN FRANCISCO PRODUCE MARKET Prices Current on Vegetables, Fresh Fruits, Etc, at Bay City. SAN FRANCISCO, March 29. Butter Extra grade, 6Stc; prime firsts, 58c. Eggs Fresh extras, 45c; firsts, 42c; ex tra pullets, 40c; undersized, 85 Vic. Cheese Old-style California flats, fancy, 32V4c: firsts, 27Vic; Young Americas, 85c. Poultry Hens, large, -1SJ04OC; small. 40 42c; young roosters, 42V4c; old. 220 25c; fryers, 6053c; broilers, S1064o for large: geese, 34 036c per ponsaa; ducks, 80 0 35c: Belgian bares, 18020c; Jackrab bits, $3 0 3.50 per dozen; turkeys, dressed, 52 0 53c; pigeons, per dozen, $2,50040; squabs, 75 0 80c per pound. Vegetables Eggplant. Imperial valley, nominal; bell peppers, Los Angeles, 100 20c; pimentos, 709c; squash, Hubbard, 30 4c per pound; summer squash, per crate, $202.25; tomatoes, Mexican, $1.5002; fan cy, $2.2502.50 per 30-pound lug; potatoes, rivers. $606.50 per cental; Salinas, $60 8.25: aweet, 5V4 06c per pound; cucumbers, hothouse, $303.50 per box; garlic, S7ts0 40c par pound; artichokes, per dosen, 45 076i Ssrnlps, $1.75 0 2; carrots, $1,250 1.50; Otets. $2 0 2.25; cautiflowert per doz en. 75c0$l; lettuce, southern. $203: Im perial valley, $2.5003; peas, 10015c; sprouts, 607c per pound; asparagus. No. 2, 609c: fancy graded, 10011c; green onions, $1.2501.50 per box. Fruit Oranges, navels, $3.?5$P6.25; lem ons, $3.2505; grapefruit, $2.25 0 3.60; tan gerines, $304 per half orange box; ba nanas. Central American, 8Vj09c; Hawai ian, 9010c per pound; pineapples, $40$ per dozen: apples, Newtown pippins, SVi tier, $2.3502.50; four-tier, $202.26; 4Vj tier, $1.8502; Oregon Spitseabergs, $2.50 38.25: Oregon Newtown pippins, $2.60493; XVv5J Wiaesaps, $2.25; rhubarb, bay 3 steers. 1002 10.25 7 steers. 974 9.73 20 steers. 1134 10.80 8 steers. 1050 11.00 5 steers. 972 10.50 steers. 1560 11.00, steers. 1225 12. 6 steers. 975 10.00, 1 steers. 1125 11.10 29 steers. 1117 10.00 30 steers. 1065 11.00, 0 steers. 1182 11 2 steers. 1095 10.75 8 steers. 873 9.00 19 steers. 1033 1II.S5 6 steers. 1033 9.75 4 steers. 1200 10.80 44 steers. 1105 11.00 14 steers. 1125 9.851 22 steers. 875 9.65; 25 steers. 1150 10.25 878 9.00 1 calf.... 1 calf 1 calf 2 calves. 2 calves. 9 mixed.. 46 mixed.. 1 bull. ... 16 bulls. .. 3 bulls... WL Price 1M0 $14.00 200 18.00 240 12.00 165 17.00 186 16.00 845 8.35 908 916 840 1003 1020 950 985 925 865 924 1015 670 725 675 875 975 880 778 785 775 560 633 307 875 1000 104 17 steerj. 28 steers. 25 steers. 25 steers. 8 steers. 5 cows. . 6 cows. . 25 cows. . 22 cows. . 2 cows. . 2 cows. . 2 cows. . 2 cows. . 6 cows. . 2 cows. . 2 cows. . 2 cows. . 8 cows. . 22 cows. . 19 cows. . A cows. . 6 cows. . 7 cows. . 4 cows. . 2 cows. . 14 cows. . 25 cows. . 16 cows. . 3 cows . . 4 cows. . 7 cows.. 10K8 9 Cows. . 951 17 cows. . :3 cows. . 4 cows. . 14 cows. . 25 cows. . 14 cows. . 2 cows. . 3 cows. . 7 cows. . 5 cows. . 1 cow. .. 25 cows. . 25 cows. . 2 cows. . 23 cows.. 1 cow. .. 1 cow. .. 2. cows. . 10 cows. . 2 calves. 11 calves. 1 calf... 1 calf... 1 calf. .. 4 calves. 6 calves. 2 calves. 10 calves. 6 calves. 1 calf. . 1 bull 3 bulls... 1 bull 1 bull 1 bull 1 bull. .. 1 bull... 1 bull.... 1 bull.... 1 bull.... 1 bull. ... 1 bull 1 bull 1 bull.... 1 bull. ... 1 bull.... 2 bulls. .. 3 bulls. .. 1 hog.... 1 hog. ... 4 hogs. . . 6 hogs. 525 1190 1350 1173 1000 1300 1223 920 1540 1050 1410 1000 1370 1670 710 1010 1450 840 1095 1250 1100 1595 1343 7.50 8.50 7.00 8.50 6.00 7.00 6.75 6.50 7.75 7.00 7.50 7.50 8.00 7.50 7.00 6.00 7.50 5.50 6.00 8.00 7.25 7.50 7.00 1220 10.75 1175 10.50 9.75 7.00 9.001 8.75 8. 7.75 1050 10.60130 hogs... 31 hogs. .. 6 hogs. . 3 hogs. .. 5 hogs. . . 3 hogs. . . 22 hogs. . . 3 hogs. . . 7 hogs. . . 6.50H7 hogs. .. 5.75119 nogs. . . 8.001 1 hog.... 9.001 2 hogs. .. 8.00 7 hogs. .. 4.25 97 hogs... 7.00 66 hogs. .. 6. 7i 6 hogs. .. 6.00112 hogs. .. 8.251 1 hog 7.001 7 hogs. . . 8.35111 hogs. .. 7.00 9 hogs... 7.001 8 hogs. . . 5.501 1 hog.... 8.501 2 hogs. .. 8-501 8 hogs. . . 8.35 6 hogs. . . 8.25 3 hogs. .. 9.00! 2 hogs. .. 9.50 21 hogs 7.501 5 hogs. .. 946 10U 912 1015 1000 900 1080 1054 960 1020 960 1180 945 8S0 860 975 1092 9.00,23 hogs. 8.75 7 hogs. . . 9.0U 7 hogs... 9.25 6 hogs... 8.75 7 hogs... 1085 10.10 8 hogs... 1150 10.00 2 hogs. .. 7.251 2 hogs. . . 9.50 8 hogs. .. 7.501 4 hogs. . . 9.00 22 hogs... 9.10 5 hogs. . . 8.73 6 hogs. . . 9.75 4 hogs... 8.501 2 hogs. .. 6.00111 hogs... S.00'10 hogs. . . 8.75113 bogs. .. 9.751 8 hogs. .. 200 14.00 2 hogs. .. 340 7.501 6 hogs. . . 150 16.O0I43 lambs.. 340 10. 001 17 lambs.. 200 18.00119 lambs.. 320 11.50113 lambs.. 128 16.001 154 lambs. 173 15.00155 lambs. 163 15.001 2 ewes. . . 235 8.00149 wethers 110 15.29 150 17.001 Livestock prices st tbs Portland stock- Arda were as follows: Best grain, pulp-feed steers. .. $11.00I1 .50 860 14.25 191 16.35 217 16.25 150 15.75 126 14.00 130 14.00 93 14.00 50 12.00 78 13 50 63 13.50 201 16.50 610 14.50 174 15.50 109 16.50 197 16.50 310 16.50 495 14.50 204 16.50 198 16.50 245 16.23 318 15.25 342 14.25 300 14.23 174 16.25 207 16.35 192 16.35 171 16.35 350 14.35 220 16.50 182 16 23 171 16. S3 206 16.33 363 14.25 164 16.35 152 14.35 180 18..".5 205 18 35 160 15.! 173 18.35 198 16.23 181 16.25 190 16.25 220 16.00 167 16.33 135 14.33 165 16.33 214 14.3.1 200 16.23 205 16.2.1 170 16 2.1 200 16.35 230 16.2.1 1!I0 18.2J 191 16 2.1 240 16.2.1 175 16.2.1 64 19.0(1 69 13.2.1 39 19.011 42 20.06 74 17.40 75 14.70 1R0 16.06 M.5O01I.OO 9.50010.50 8.75 9.75 7.25 8.25 6.25 IS) 7.25 9.00(9 10.00 8.000 9.00 6 50 0 7.50 3.000 6.50 5.00 0 7.50 15.50 0 17.00 10.00015.50 7.00010.00 7.50 0 8.50 16.25016.50 16. 00 16.25 11.00015.50 12.00015.00 Choice steers Choice to good steers Medium to good steers Fair to good steers Common to fair steers Choice cows and heifers Good to choice cows, heifers.. Medium to good cows, heifers Canners Bulls Prime light calves Medium to light calves Heavy calves Stockers and feeders Hogs Prime mixed - Medium and mixed Rough heavy Pigs Sheet) - Spring Jambs 19.00020.00 Eastern lambs 16.50 017.50 Light valley lambs 13.25016.60 Heavy valley lambs 14.25015.25 Common to medium lambs.... 11.00014.50 Yearlings 14.50015.25 Wethers 14.00014.50 BWeS 1U.OO0I3.OU Chicago Livestock Market. CHICAGO, March 29. Hogs Receipts 2000. 25c to 60o higher. Bulk. $14,600 15.50; heavy, $14.100 15.25; medium. $14.80 016; lights, $15.20016; pigs, $13.75 0 15.60. Cattle Receipts 1000. Beef steers and fat she stock higher. Bulls and some seekers and feeders selling lower to kill er ahipping .division being closed; trade too erratic to warrant detailed quotations. SheeawJteceipts 8000. mostly direct to packers; do load of fresh shorn lambs, $18.25. Not enough sates to quote market. Kansas Olty Livestock Market. KANSAS CITT, ttarch 29. Cattle Re ceipts 18,000; stead to strong, calves steady to. 50c higher, esice heavy steers, $13014.45: medium. $lt4 12.90; com mon, $10011.15; choice lights, $11,600 13.25; common, $9011.60; butober heifers, $7.25013.23; cows, $6.40012; calves, $14.25 016.25; feeders, $8.60012.50; stookers. $6.75011.50. Sheep Receipts 8000; lambs, 25e to 40c higher; sheep, strong: lambs, $17,400 20.15; culls, $14017.25: yearlings weathers. (15017.25; ewes. $11.60014.25: culls, $5.60 011.25; breeding ewes, $9016.60; feeder lambs, $14.25016.25. Omaha Livestock Market. OUAHA. Jdarcb 4. Hogs Receipts 14.000, unevenly stesdy to 25c higher. Bulk. $13.75(3)15; heavy, $13.15 914.75; medium. (14.75015.25; lights, $14.25 015.50; pigs, $11.50014.25. Cattle Receipts 8500; killing classes strong to 25c higher, stockers and feeders slow, steady; choice heavy steers, (13.250 14.50: medium. . $11.25013.25; common, $9.50011.25; choice lights, $11.15014; common, $9.25011.75; butcher heifers, $7 012.25: cows. $6.50012; canners. (4.50 0 6.30; calves, (14.50 0 16; feeders, (8.50012; stockers, (7011.25. Sheep Receipts 9300, 50c higher. Lambs. $18.25020.25; culls. $15017.75; yearling wethers, $15.50017.50; choice ewes, $12.25 014.50; culls. $7.60011.60. Seattle Livestock Market. SEATTLB, March 29. Hogs Receipts, 725; steady. Prime. $16.25 0 16.75; medium to choice, $15.20 0 16.25; rough heavies. $14.25014.75; pigs, (1215.60. Cattle Receipts, 105; steady. Best steers. $11.25011.75; medium to choice $9(10.75; common to good, (6.7309; cows snd heifers, $9.75010.25; common to good, $6.3009.25; bulls, (70 8.25; calves, $7015. ' Eastern Dairy Produce. NEW TORK, March 29. Butter Irregu lar; receipts, 5678; creamery higher than extras, 66V267c; creamery extras, 92 score. 66c; creamery firsts, 68 to 91-score. 62li'65c: packing stock, current make, No. 2. 38t439c. Eggs firm; receipts. 30,112. Fresh gathered extra firsts, 51S51Vie; firsts, 48 050c. Cheese Irregular: receipts. 2S32: state whole milk flats held specials, 30031c; ditto, average run. 28fir2lc: state whole milk twins held specials, 29030c; average run, 27 028 lie. CHICAOO. March , 29. Butter higher; creamery. 50 066c. Eggs lower; receipts. 22.914 cases: firsts. 4343Hc; ordinary firsts. 40V2841Vic; at mark, cases Included, 42(943c. Poultry, alive, higher; springs, 38e: fowls, 42c. Feed and Hay at Seattle. SEATTLE. March 29. City delivery: Feed, mill, $43 per ton; scratch feed, (S3: feed wheat. $87; all grain chop, $73; oats. $70; sprouting oats. $75; rolled oats. $72; whole corn, $74; cracked com. $76; rolled barley, (76: clipped barley, $81. Hay Eastern Washington timothy, mixed, $38039 per ton; double com pressed, $42; alfalfa, $35; straw, $17018; Puget sound, $33. Dried Fruit at New York. NEW YORK, March 29. Evaporated apples quiet, western 14022c; slate, 18V0 26 "Ac. Prunes quiet; California, 10829c; Ore gons, 11021c. Peaches dull; standard, lSVsSlftc, choice, 20 0 21 He Hops. Etc, at New York. NEW YORK, March 29. Hops steady; state and Pacific coast medium and choice, 1919, 7885c; 1918, 60070c. tildes and ' wool unchanged. j Car Wrecked, Driver Fined. ST. HELEN'S, Or., March 29. (Spe claL) Gus Sellberg- of Portland was fined $50 and paid $25.50 additional for costs when Judge Hazen found bim guilty of driving an automobile while intoxicated. In the forepart of the week Sellberg was driving along the highway near Rainier and bound for Astoria. When passing two parked cars he made too much of a turn on the steering wheel and went into the ditch, wrecking his car. Four wit nesses swore he was Intoxicated, though Sellberg maintained that be was sober. FREE FROM ALL DOMINION GOVERNMENT TAXATION We are particularly fortu nate to be able to offer in vestors and client these CA NADIAN MUNICIPAL bonds upon IS'tle basis. These are all peneral obi i (ra tion bonds and are payuble in GOLD COIN of the Unite States ai the . quarters of Morris Brothers, Inc., or in New York. Better and safer bonds are not obtainable and, at the prices at which they are of fered, are very exceptional investment opportunities. Rate Mstnrltv Price 4.000 'Calgary, City of, School... 4H Feb. 1924 90S! 14.000 'Calgary, City of. School... 4 Va Fob. 192a 6 24 1.000 'Fort William, City of S FAA1S2S 95 79 18.493 tFort William, City of E K&A 1914 7S 71 8,000 'Lethbridue, City of F.VA 1924 95 0 6.000 I.ethbridKe, City of 4 Feb. !!:' 97 .16 4.000 'Medicine Hat, City of & Jl1943 72.71 3.000 'Medicine Hut. City of 6 .11) 1M4 72.2K 12,000 t.N'orth Vancouver ( J& 111 922 96 34 2.000 'Point firev, H. C 5 FK-A1H2H 842 2.000 'Point irey, B. C 5 FAA1929 k1.4 1.000 'Point Grey. B. C 5 FA1l0 S2.2i 2.000 'Point irey, K. C S FA A IKIt 81 14 2.000 'Pornt Orey, B. C t FA A 1912 (.0 11 3.000 'Point Grey, B. (1 t F.V 19.14 78 27 3.000 'Point Grey, 14. C 6 FA 19:16 76 61 3.000 'Point Grey. H. C 5 FA.-A19H 75 51 $2,000 Ileglna, City of ln.SI:u 9 n.i 14.000 'St. Boniface, City of & JJ19S5 77 92 66.600 'St. Boniface, City of..,. 6 M194J 72 64 9.000 'St Boniface, City of 6 J.Tl?r 72 OS 28.000 'Victoria, City of. B. C... Mrf 1928 91.17 'Denotes bonds of $1000 denomination, llienotcs bonds of $486.66. fOenotea bonds of $500 denomination. PRICE: TO NET 7i2 cw is mmm , m sxi fVlELPlMOj LIBERTY AND VICTORY BONDS li yea mast sell yeur Liberty or Victor bond, sell te na. If yit i'Mii htiv more Liberty nr iriory honil. buy from as. On March 29. 1020. the cloelns Now York mtrh.t prlren were as sleen he. low. They are the Kovernlne; prices fnr Liberty and Victory bonds all over tne world, and the htffheM. Wi advertise there prices dally In order that vou mar always know the New York market and ins siact value of lour Liberty and Victory Bonds: 1st 4Vi $110, SO 1 24 1st lt 2d ft's 4fl 4k 1117.14 $90 40 $SI SO 1.02 l.ltt l.til) Market. Interest. Total IPH.20 ttl.!6 J90S8 When buying we dertnrt ao on 4th Vie tor v 4 H . S'im 4, SMI 7 t7 NO l7 AO 1.4 fa 1 o i ,m 191 3 19.1 0O 19171 19.M lilt Kg M Sd 4V 4S, wi no :i2 2 l.:v .lit 191. 4 a ;o bond and S2 :o on a Slotiu bond. we sen at tne .New tors market. p(u tne accrued Imerept. Burglar and lreprof Maf IreposU Itnie for Renl . Open lotil I. M. m eiaMirdaya, MORRIS BROTHERS, Inc. The Premier Municipal I toed House Capital One Million Italian. Morris Building, 309-11 Stark Wreet, IleC Fifth and Mith. TKLKI'HONE: BROADWAY tIJl IXahll.hrd Over a (iiarter Century Livestock Show to Spend $36,000. LEWI8TON. Idaho. March 28. (Spe cial.) At a meeting of the directors of the Northwest Livestock show yes terday afternoon a budget of 136,000 was adopted to cover the running ex penses of the show next fall. The directors In attendance were Presi dent D. S. Wallace. F. S. Randall. K, S. Erb, O. P. Hendershot, V. J Jordan, all of Lewiston; Henry Thiessen. Sweetwater; J. P. McCann and J. L cow, and G. O. Swales, Johnson, Wash. Closer Prices Closer Terms Closer Collecting That is the trend of sound trade. That is the consensus of opinion expressed in letters we recently received from hundreds of leading manufacturers and wholesalers in every part of the country. Men with the vision to foresee any reactive tendencies of business usually have the fore sight to safeguard their resources against such reaction. They welcome the complete Protection and Service afforded by the American Company's Credit Insurance. It. will pay Manufacturers and Jobbers to send for the fall particulars of the American's Unlimited Policy. AMERICAN CREDIT- INDEMNITY CQ or NEW YORK E. IL TREAT, mcsioeht eoawAMv mar swiss tm uaujtarrao foucv H. T. MacRILL, General Agent Board of Trade Bldg. Phone Main 1179 Portland, Oregon J. I. Case Plow Works Co. 796 Cumulative First Preferred Stock Dividend! Fn From Normal Ftdtrml neom Tmx Description ar value $100. Preferred as to both assets and dividends. Redeemable in whole, or in part by lot, at 110 and accumulated dividends. Divi dends payable quarterly January 1st, April 1st, July 1st and October 1st. Listed on the Chicago Stock Exchange. Aachortsrd Oussnadttia Capitalization "ftS $100) $5,000,000 $300,000 7 Non-Cumulative Participating Second Preferred Scock (par value $100) $.000,000 3,500.000 Common Stock (no par value) 12500 shares Organization 71,6 1 lStse ?ow 7tu hVn viwiuswva corporated under the laws of Deiswarr, tor the purpose of bringing under one management and control the property and business of the Wallis Tractor Company, founded in 1912. and the J. I. Case Plow Works, whose buines was originally established in 1876. Hi'lf rtrv Tn buainesi of the J. I. Case Plow Work waa originally 1UMUIJ established n 1876, as the Case-Whiting Company, with Mr. J. L Case as its first President. It has continuously engaged in the manufacture of plows, and a line of tillage implements. The reputation of the "Case Plow" for quality and service, has given this line standing and prestige beyond dispute. The business of the Wallis Tractor Company was organized in 1912, and since in inception, the Company has engaged exrlu ivcly.in the manufacture of the well known "Wallis" Tractor. . The net profits' before taxes of tte J. L Case Plow Works a.alllUlgS fOT twJ yeri lnj 0f the Wallis Trsctor Company for the two and one-half years ending June 30, 1919, combined, were at the average annual rate of $755,737, or over three time the first preferred stock dividend requirements. For the present fiscal year, net earnings are estimated In excess of $1,250,000, or over five tunes dividend requirements on the First Preferred Stock. For the first six months of the present fiscal year, July I to December 31, 1919, shipments show an increase of over 70 and sales an increase of over 150 fot the same period last year. At pt Total net assets, exclusive of good will, are $7,272,713.02, or over $200 per share, and net quick assets alosie, $4J7537.$0, or over $125 per share, for the First Preferred Stock. The bal ance sheet as of June 30, 1919, shows none but capital liabilities as given above. Rprnmmpnr?afinn At thf rresent market price, this stock ecommenaauon ieIdi Bbout J 75 By teMon of fhe fict that it is strongly protected by issea and earnings that the - company has back of it a long history of progress and achieve, ment that it produces essential and high grade product! that the efficiency of Its management is proven ana furthermore, that this stock is protected by a strong sinking fund whose oper ation will not only be of benefit marketwur, but will also con tandy strengthen the position of the outstanding preferred stock we recommend this issue for conservative investment. Inquiry by mail, telephone or personal call at our offices, is Invited. Orders may be wired from out of town at our expense. Priet ml Mart Yitld, A&ocrf 7.7SX A. B. Leach & Co., Inc. Motor Wheel Corporation 8 Cumulative First Preferred Stock Successor by purchase to Prudden Wheel Company, The Auto Wheel Company, Gier Pressed Steel Company, The Weis & Lesh Manufacturing: Company, makers of wheels from timber operations to' finished products. 100 and accrued dividends Circular upon request for 0R-291 The National City Company Correspondent Offices in Over 50 Cities PORTLAND YE0N BLDG. Telephone: Main 6072 Bonds Preferred Stocks Acceptances New York Philadelphia St. Louis Boston Int5tmrnt Securities Minneapolis Milwaukee Cincinnati Baltimore Cleveland Detroit Duluth 105 South La Sallc'Stret, Chicago Th aaSovt ratefnitt arc tMtd vpon tnfim mm (km 4ilrh v ran aider tmitolr rrwmmmikf. W hav rrlied oa the tatemcma tax pmchattAc that Mcuntiraouiwclvci. UTILITY OF THE MOTOR TRUCK Visualization o f t h utility ot the motor truck is one of tha beat arguments for better roads, for It Is on good roads that the motor truck can do Its best work, win ter and summer. It Is the s a 1 v a t Ion of th. farmer because It brings him In con stant touch with the market, and the farmer Is now Insist ing that the roads be paved with . BITULITHIC WaVJUlKN BROTHERS CO. HALL & COMPANY BUT AND SELL Railroad Public Utility Industrial Municipal BONDS TIELDLNd 5co to 7 Foreign Government Loans Local Securities Preferred Stocks Lewis Bldg Portland, Or. I I ir m. i !