Morning Oregonian. (Portland, Or.) 1861-1937, May 13, 1920, Image 21

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Morning Oregonian., May 13, 1920, Page 21, Image 21

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Newspaper Page TextTULEaiOUMXtt OUE(iOMA THURSDAY,. MAY 13. 1020 21 iF MOTOR SHARES ARE WEAK signs of slowing; down demand ax, factories. IX Oils, Marines and Sugars Remain Firm Monetary Conditions Regarded as ound. " NEW YORK, Hay 12. Unfavorable in- " dastria.1 conditions superseded the credit situation as a factor of primary import 1 anco in today's !ls",iess and lower stgck market, provumng additional liquidation for both accounts. Reports from leading centers of the automobile industry conveyed abroad in timations of a let-down of activity, due I in part to the fuilure of the steel mills to provide finished materials and ' in lesser decree to a reduction' of demand. . The money situation also figured in the trade reaction, banks of the middle west exercising closer scrutiny of loans to automobilo manufacturers, according . to word received by local financial ln - tereats. Conditions in the steel and Iron trade offered little ground for encouragement. as indicated by the weekly reviews- of the i- Iron Hizo and other authorities. ft Virtually no time money was offered ' here and call loans rose from 8 to 10 per cent, again yielding slightly at tne close mf' of the session. L.ocal monetary condi "tfons are regarded as sound, however, - with additional reduction of brokers bor- rowings. The stork market traversed ihe ground madn fHiniltar by recent session, oils, sugars and, occasionally shippings con- tributing to the constructive side, while motors steels, equipments, leathers and textiles featured the heavy to weak issues. Losses- of ne to six points pre- , , vailed at the dull finish. Sales amountedJ to i.t't.uuu snares. Trading in bonds was again devoid of ' 1 ' especial feature. aside from moderate -- strength shown by foreigi) Jsbucs: The liberty division was irregular. Total sales (par value) aggregated $0,275,000.-.. Old United States 4s lost H per cent on call and Panama iis dropped two points. CLOSING iTOCK QUOTATIONS. crate. $2S; eggplant. Los Angeles, S9 10c per pound. Fruit Oranges, navel. $4.50.7S. ac cording to size; Valenclas, tl.50(g!5.50: lemons. $3.25fr5; grapefruit, Jlf.oOSsiy.oO; iemonettes, 91.503; bananas. Central American, 8&9c; Hawaiian, 1012c per pound; pineapples, $t.504p5 per doxen: ap ples. Newtown Pippins. 3Vt-tier. 3'a3.'JZ; 4-tior, J2.75&3: 4V4-tier, 2.30 (6 11.75: rhu barb, $1.60U 1.85; fancy mammoth, $2 per box; strawberries. Peninsula and VVlaon ville, ti0c&$l; loquats. 5l-ljc; avoca does, per dozen, $5 8 for large; apricots, per crate, $2.aO&3; cherries, per pound, 1017V4c; per drawer, $1.75&2.25; raspber ries, 10S1.20O per crate; blackberries, $3.75 (4.25 per crate; figs, per crate, $3. Receipts Flour, 500S .quarters; wheat, SOO centals; barley. 12 centals; beans. 1050 sacks: corn, S00 centals; onions, 97S sacks; potatoes, 232 sacks: hay. 70 tons; eggs, 117,480 dozen: hdes, 101 rolls; oranges, 500 boxes; livestock, 100 head: Eastern Dairy Produce j . NKW YOKK. May 12. Butter, steady; creamery, . extras, 5J9 li 59 & ; others un changed. . Kggs Irregular; firsts, 46 ',4 48c; others unchanged. Cheese Firm, unchanged. Am Beet Stiff. A m Can Am Car & Fdv Am II & L. pfd A rn l.oco .... Am Sm & RTg Am Sugar Rtg Am Sum Tob.. Atnc Tel A.- Tel Am 'A I, Ac Sm Anaconda Cop Atchison A U & W 1 S S Pales. 1.200 2.1KI0 SOU 3.0IHI 4.2O0 1.5(10 Sipo :km) I.imio 300 3.400 1.400 :;oo .Baldwin l.oco 40, 200 Bait & Ohio. Beth Steel 8 . K & S Copt.er Canadian I'ac Central l.ealh Cites A Ohio. . Chi M St P Chi & N VV . . . Chi It I & Pac Chlno Copper. Corn Products. Crucible Steel Cuba Can Sug U SyFood Prod Kric lien Klectric. .(.Jen Motors. . . lit North pfd Ut N Ure ctfs. . Ill Central .... Inspir Copper. Int .VJer M pfd Int Nickel . . Int Paper .... Kan City So.. " Kennecott Cop Louis & Nash Mex Petrol. . . Mldyate Steel. f Miss Pacific. .. I Nev Copper. .. , N Y Central. . N Y N H & H Northern Pac. Pacific Mail.. P-Am Petrol.. Pennsylvania. Pitts & W Va Pitts Coal .... Ray Con Cop Reading .... Rep Iron & S S Con O & Rf .So Pacific So Railway. . . . . Stud Corp. . . . rexas Co 1,200 14,3o 100 1.000 5,0(H 4"o hoo 000 e.Hoo 800 15.000 0.300 2.1100 1.20O 2.7O0 500 38.100 S00 1.5(10 200 2.50i .1.300 4.00(1 3,7O0 l,!MHI 1.0(H) 300 22, moo 3.200 1.000 300 3.700 4(H) 1.O00 100 72.00O KOO 1.2O0 200 3(H) 15.2IIO IO.SHO 8,2(10 K.OOO 2,100 38,400 10.200 Last High.-;f-Low. Saie. 1)5 93 ,04 40'.i 3W5 3!) "4 131 130 ',4 130' !'.'.4 S3 3'i 03 02 2' 00 s i& 3 i 130 '2 130Vj 130V4 8'JW 89 80 114 V, 1)4 !)4 Vi 15-T 15 15 57 56 36', 4 80 7!) 7!) 108V4 l2'4 '164 V HO . 1137, 115 33 V 33 33 U2 HI Vi 01 VS 22 V4" 22 4 22 '4 1174 11:, HOT, 70 W OS1 till f.1- 51 '4 51 Si .14 ' 33 33 5 70 70 70 3 4'- '33 '4 33 i 31' 314 31. 1)5 V, 92 V 92 '4 I'll 13(i, -13i 53 Vi 5I4 51 V4 3', 02 V4 -"4 12Vj 11V4 12 V4 141V, 140 1404 '"'. 27 27 "4 71Vj 73 73 35 . 34 T4 34 T 86 ' 86 52 i 51i 51 84 V 83 83 181, 11) i)V4 7 1 Vj 70 i 70 '.4 1 1 5 54 1 6 27 27 V, 27 V4 101 H -lol 101 '.i 184 J78V4 181 43 43 43 24?, 24V4 24 i 12V4 12 12 .0H 68 Ii8-Vs 29 Vi - 28 Vi 2SU 74 73 V4 73fc 33 (A 33 V... 33 4 104 Vi . 101 103 Vt 40 ' .39 31) 30 29 29 57 57 57 17 . 17 Vi 17 91 92 Vi " 92 94 92 V, 92 V4 35 34 34 95 94 94 2 21 21 74 ' 70V4 71V 49 48 48 63 Vz 63 63 Vi 117 116 11(1 70 , 69 i 69 V4 85 - 83 83 94 93 Vt 93 68 67 V 67 48 Vi- 48', 48 !$ 17 1754 78 78 78 10 '4 40 '4 40 11DV4 117 118 .CHICAGO. May 12 Butter, lower; creamery, 4456',4c. F.ggs Lower; receipts, 22,507 cases; firsts, 40V441c; ordinary firsts, 3r38c; at mark, cases included, 38(640c. . Poultry Alive, unchanged. Rally In Coffee Market. NEW YORK. May 12. The market for coffee futuses was irregular today. After opening 1 point higher to 11 points lower, with most of tlte active months selling some 2 to 10 point below last night's cioslng figures, prices rallied on covering. Closing bids: May 14.65c. July 14.08c, September 14.00c, October 14. 5bc,.-December. January and Match 14.50c. Spot coffee, quiet; .Rio 7s, 15V4 &15c; Santos 4s, 23 24 V4 c. EUROPE BIDS FOR WHEAT HltiH OFFERS. STIFFKX COllX MAEh:T AT CHICAGO. i - Tob Products. !,100 Union Paci i ic. . 2.700 Utd Rt Store 7.000 U S JndAlco 10,600 U S Steel. . . . Utah Coppt-r.. 1.H00 West Klectric. 300 Willys-Ovid ... 6,00 Nationa.1 Ld ... ... Ohio Cts .ia.s. 3.0O0 V R TJb 31h. . -!1.0j Panama 3s cou do 1st 4s.... 8-"i.70 AnIo French 5s NS'i do d 4s.... h.".Uit Am T & T cv 6s. 04 do 1st 4l4.. 87.Ni Atchen cen 4s...71i do 2d 4s.. 85.20ID i R U con 4s..rf34 do 3d 4Vi.. M.l8iN Y deb 6s. ..871 do 4th 4Vs. Rr.54N P 4n .V' it. (.Victory 3s... fl.00iT P 3s 50 ao iM.04iPao T & T 5H...7iV- XT S 2s rep. . . . 101 Pnnna con 4 ',-s. S4 V- do coupon.. . M01 :S P cv 5s." 8 U S 4s ros....H So Ry 5s 7t A U S cv 4s cou.10l U P 4s 76 Ian am a 3s reg.'.S J U S Steel 5s Mining Stocks at Boston, BOSTON, May 12. Closing quotations: -llouoz 30 AriTL Com It Calu. Jt Ariz. C'alu. &. Tleela. " 'cntennial . . , Cop. Range . . . . K. Butte Krankiiii " Isle Kovalle. . T.ako Copper. . Mohawk Go North Butte. . . Old Dominion.. Ktj it kscola 3-U Quincy 11 Muperior 3V . iHup. & Boston. J 3 Shannon - 1 Utah Consol . . . 2i iWinona ... 3', I Wolverine . . . . 02 11 Rains Also Aid in Putting l'riccs at Highest Mark of Seaion. Oals Are Weak. CHICAGO. Jlar 12. New high, record prices or the season resulted in the corn market today chieflv from wet weather and from urgent buying of wheat to ehip to Europe. The finish in corn was un settled at lc to 2c .net sain, with July $1.7714 to f 1.77 and September 11.64 to f 1.64. . Oats lost 9c to C. Provisions' closed 10c to 25c up. Bullish traders In corn worked on the assumption that h,eavy rains which fell mrougnout much of lowa and Illinois would mean serious delay to plowing and planting. Meanwhile, t he fact that ex porters of wheat were blddinK the ton most figures of the year added to bullish sentiment regarding, corn. The majority ot dealers, , moreover,, appeared to be lieve tnat although the railroads wer trying to furnish mora cars the scarcity of railway equipment was against any big rush of grain to terminal markets. Oats vere weakened by Canadian, com petition and by talk that the cold, wet weather favored the growth of oats. Provisions ascended with corn and hogs. As in com. commission houses became active buyers. .Besides, an improvement was reported in cash demand for meats and lard. J - The Chicago market letter received yes terday by Ovrbeck & Cooke company of Portland said: Corn Selling pressure was lacking until about midday, when the bulges began at tracting profit taking by-longs in sufficient volume to check the advance. The news was mixed, but the factor which stood out as the dominant influence, was the' con tinued strength in the spot market. No. 2 yellow establishing a new high price at $2.13. Shipping sale of r.OOO bushels were reported, while on the other hand the st canceled 23,000 bushels - bought previously. The raiiroad situation was improved here with the- leading railroads removing re strictions previously imposed because of switching, conditions. ' There is little dis position' locally to press the selling side of futures until there is some concrete indication of relief in the way of a better movement, notwithstanding that' advices from the country are suggestive of a de sire on the part of holders to dispose of their surplus. The favoraole c row outlook Is also factor to be given consideration, as it will "have much to do with governing the atti tude of the fatmer regarding marketing what is left of the old crop. Oats Futures were under pressure throughout the session and at no time was there any independent strength ap . patent. There was an- influential class of selling from time to time, but enthusiasm the short side was restrained by the rmness in corn.- Premiums were reaucea In the- spot market, due to an apathetic emand and further liberal cancellations by the cast. The weekly government eat her and crop reports say tne condi tion of the crop is very good in practically II sections. Jt is to be expected tlrtit this arket will continue to display independent cakness as long as the crop outlook re mains as at present. Leading futures ranged as follows: CORX. Open. High. Tow. Close. May $1.05 $1.07 $1.!5 $1.!7 uly .-. i . j. ; V J. Vt- l. ! l. t Sept 1.C2 1.65 1.62 1.64 uly. . Sept. . Money Kxclmnge, Etc. NEW YORK, May 12. Mercantile pa- per, 7 per certt. Kxchanse irregular: sterling fiO-day bills, $3.78T; commerciil 60-day bills on banks. -.$;.7ST4; commercial GO-day bills, $3.78; demand. $3.83; cables, $3.S3";. Francs, demand 15.12. cables 15.10; Belgian francs, demand 14.22, cables 14.20? guilders, de- mana 0. cables r6Vj; lire, demand js.vi. caoies vj.Mo; marks, demand 2.00, cables 2.01 ; drachmas, 8.58. atoning strengthened slightlv in late dealings. Demand 3.&:5Vj, cables $3S44. wvernmsni oonu.i, easy; railroad bonds, , - asy Time loans, strong, unchanged. Call money, easy. High. JO per cent; -low, r per cenx: ruling rate. 8 nor mnr , . closing bid. 10 per cent; offered at 10 per v i , nisi i van, i j ptr cent. Bank acoeptances, 6 per cent. ' Bar frilvt-r. $ 1 . 02. Mexican dollars, 7Sc. J-OXDOV, May 12. Bar silver, 50 d per v u u -. .imiivy, pt cent. , ,c Discount rates Short bills, fisj per cent mree niomns dims. i il-lofgG per cent. Corn Is Advancing in England. Regarding the corn situation in th United Kingdom, Broomhall cabled: "Argentine shippers have again advanced their prices and the parcel market in the r United Kingdom rules very firm, with only i umiieu (Juan ii Lies ot corn put forward, ' . Values In Argentina continue to advance , , due to active foreign buying by both - United Kingdom and Continental inter ests. Demand from feeders cannot be said 1 ""yto be urgent. The oats market has rirmoH J considerably in the United Kingdom with , an improved demand in evidence. Argen tine shippers offer-only meager supplies at J Swift & Co. Stocks. "Closing prices of Swift & Co. stocks at j enicago were reporiea oy Overbeck Cooke company of Portland as follows swirt & t:o ma; TJbby, McNeil & Libbr National Ueather . ...... 11 7t Swift International . 35. H SAX FRANCISCO PRODUCE MARKET Prices Current on Vegetables, Fresh Fruits, Etc., at Vay City. - . SAX FRANCISCO, May 12. Butter Ex ' tra graaes, i-c; prime rirsts- nominal.. Eggs Fresh extras. 464sc; firsts, nom inal; extra pullets, 40c; undersized. 35c Cheese, old, steady. California flats. fancy, 27ci firsts, 2Zc; Young America, - Vt c. Vegetables Beans. string. 15(3) 17 lie M , wax, 10121Lc per pound; bell peppers, per pouna, large, uie'oc, smau, 7Q3loc 1 , snuash, summer equash. per crate. $1.253 j - 1.50; Italian snuash. SI. 500) 1.75; tomatoes, 4 Mexican, fancy. 52 3 per. 30-pound lug southern, $1.7592; potatoes, rivers. $6,500 - 7.25 per cental; plow outs, $56; Netted Gems, i .iv cn . i o : new potatoes. Garnets, V 68c: white. eT'c per pound: Tur r '.. lock sweets, 9 Jlc: onions, brown, $77.5 on street; Imperial Bermuda, $2.5'W2.75 per crate: crystal wblte, 4 fa Be per pound cucumbers, hothouse, $4 per box; Garlic. 35 ftr40c per pouna ; artichokes, S4 ff 7 per Inrge crate; turnips, 5.ua!2.a0; carrot , $3; beets," $2.25W2.75 per sack; lettuce. $1 . rl.50; asparagus, 6'8c; fancy graded, j4b. lUllc; aNparsgus, t iq- oc; gree oniona. $1.-0 1.00 pur box; ctuery, per .Jns .775. OATS. -7SV 76-4 MESS PORK." May. . uly. . uly. Sept. 21.70 LARD. - 2U.05 21.70 22.47 uly . bepi . 22.82 SHORT RIBS. 10.20 19.42 v 10.20 7tt 56.40 37.40 21.93 22.72 19.35 20.10 , $3,000,000 Carnation Milk Products Company Five-Year Sinking Fund 7 Convertible Gold Notes Dated May 1 . 1 920. Due May 1. 1925. Interest payable May 1st and November 1st. Principal and interest payable in Chicago, New York. . San Francisco and Seattle. a." Coupon 'Notes $500-$ 1000 registerable as to principal only. Callable at par on any interest-payment dale on thirty -days' notice. Interest Payable Without Deduction for Normal Federal Income Tax Not in Excess of 2 c- Convertible after November 1, 1921, into 1 Preferred Stock at 95. liliiiiii;iiiiiiiiiitiiiii!i!iMi:iii::; Continental & Commercial Trust & Savings Bank, Chicago, Trustee. Carnation Milk Products , Company is one of the largest companies in the United States engaged in the manufacture of evaporated milk. The business was established in 1889 and has had a steady and consistent growth. Gross sales have increased from $7,906,820 in 1914 to $36,794,687 in 1919. Total assets, after deducting all indebtedness, except this Note issue, are over $13,600,000, or more than four times the amount of the issue. Net Working Capital is $7,508,192, or over two and one-half times this Note issue. ' For the past ten years, average net earnings of the Company after interest, all taxes and depre ciation, have been $1,022,459, or in excess of four and one-half times interest charges on this note issue. . For the past five year average net earnings have been $1,550,073, or more than seven times such interest charges. The Company agrees not to mortgage its present fixed property, and at all times to maintain net quick assets, equal to at least 150 of the amount of this note issue and all current indebtedness. Annual sinking fund is provided for the retirement of notes equal to 15 of the net earnings available for common stock dividends. Notes will be convertible at the option of the holder after November 1, 1921, and until ten days prior to maturity or redemption into 7 Cumulative Sinking Fund Preferred Stock on the basis of 100 for the Notes and 95 for the Stock. t ' .The Company is incorporated under the laws of the State of Maine, but will be succeeded by a Delaware corporation, which will execute the definitive Notes convertible into the Preferred Stock of such corporation. The Company is under the same management that has been responsible for its success since its inception. m All legal matters will be approved by Messrs. Mayer, Mayer, Austrian and Piatt, Chicago. Balance sheet and earnings statements certified by Price, - Waterhouse and Company. Temporary negotiable receipts will be delivered exchangeable for definitive notes when, as and if issued and received by us. PRICE 962 AND INTEREST TO YIELD ABOUT 7.85 r,r.!-:-'-:--'-.-., .i,;;.:ii..!i.i;i'!uUlili!:uli!l EXESIPT PllO.M ALL. I30MINION- GOVERKMEXT TAXATIOX. Canadian Provineia and City Bonds To Yield S712 Greater Winnipeg Water District 5 and 6 Gold Bonds Edmonton Gold Bonds BLYTH, WITTER & CO. 'Yeon Building. Portland. CYRUS PEIRCE '& CO. Hoge Building, Seattle. CONTINENTAL AND COMMERCIAL TRUST AND SAVINGS BANK Chicago. The above notes are offered if, as and when issued and received by us. The above eLatemenls and etatlmlcn are derived from official sources, or are those which we regard an reliable, or are carefully estimated. We do not guarantee but believe them to be correct. A mount Ir1ce IKt.BO-tt3.s3 to yield TVsc. , Manitoba Province 5 Gold Bonds Amount 1 T9,000. Dated April 15. 1I20. Dor April 15, 1!:c. I r nomination VIOOO. Hrlce a.a to yield 7',i"i. Principal and Semi-Annoal lnirrt-M Pnnhle In T. S. tiold Coin in New Torte or at Morria llrotbera, lnv. TELEPHONE OR TKI.KfiRAPII ORDERS AT OTR EXPENSE. Amunnt S6I.OOO. ltntrri Oct. 1. 1!M!. Iuc (let. 1. Ul-'!. Denomination iKIOOO. Price to yield TriTi. Alberta Province 6 Gold Bonds Amount 51 IT..OOO. Dated May I. Due Mny 1. lftl. Denomination 1000. Price Uti.Oa to yield 7Ji. LIBERTY and VICTORY BONDS If yon mu At sHI mar l.lbrtT or Viclory bonds, nell to n. f ou ran buy ninrr lUertv or Vir(or Imnili. buy from ui. On Wednesday. May V2. 100. ttip clninjr New York, market irires were lis rtTn below. Tliey are the tovernln prices for 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 York market and the exact value of your Liberty and Victory Bonds. 1st 1st I'd lt 2d 3d -4th V ictor v w , Ss 4s 4 4Vla 4U 4 4;i R-i 4-i Market.... JOl.Pft JSj.fiO $Sr O? $S 70 $S.".1J JS8.!t S5."0 $D,".fH tP.04 Interest 1.44 1.64 1.18 1.75 2. 10 .HH .3S l.M 1.95 Total. $f3.84 $S7.C4 $7 04 J8S.45 $87.J2 $S9.H2 JR5.S3 .07..12 $97. When buyinjr we deduct 37o on a o0 bond and on a 51000 bond, Wo eell at tho New YosJc market. Plus the accrued intfret. Iurclar and Kirenroof 8af lepoit Hoim for Kent - Open I mil S P. M. on Saturdays ' Cadctal I OmcMiluOm Morris Brothers hs ie rPreTnier-Mumcipal ' SondHouse Morria Bide. 309-11 Stark St.. Hrt. I if 111 and Sixth Telephone Braadwu Slil I I tSTABLrtntO I OvtR QuARTTt j 11 1 1 1 1 ii ii ii 1 1 1 1 1 1 1 ii 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 r i u 1 1 1 1 1 1 1 1 1 1 r 1 1 1 1 r i r 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ii 1 1 1EXPORTE TAKE NOTICE WE OFFER FOR SALE: 700 tons new mild Steel Bars, in. thick, 3 in. wide, oval edge, :E 14 ft. 5 in. in length; 3000 tons 56s and 60s Relaying Rails, for quick shipment; 500 tons Boiler and Tank Plates, cut in sheets; 500 tons used old Wire Rope; 200 tons Track Bolts and Spikes. Other miscellaneous waste and used material packed for export shipment. If in the market for ANYTHING in the line of waste, salvage or second-hand usable material communicate with Sonken - Galamba Iron & Metal Co. ARMOUR STATION. KANSAS CITY, MO. Largest Dealers in Waste Materials in the Middle West Tiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiriiiiiiiiiiir; 20.17 18.K7 "hH price -were: .. Wheat No. - northern sprinpr. $3.35. Corn No. 2 mixed, . $2.1:?; So. - yel- Outs No. wdlte, l.lo'd i.ltt; ivo. o white, Jl.loftil.lo. i Rye No. 2. -.'t26lB!2.27. Barley $l.U5;a 1.!U. - Timothy seed $1011.50. Clover eeetl V-ovJ o, - Pork Nominal. , ' JUard 21.J0. . Ribs tlS-jj'i!'. Grain .at San Francibco. SAN FRANCISCO. May 12. Grain Wheat. 13.WS 2-3 per cental; oata, red. J3.3jja3.40; barley, feed. 3.403.50; corn. Calitornia yellow. $3.60ir3.7O; rye, nora- nal. r Hay Fancy wheat hay, light, five-wire bales. Jtttl per ton ; No. 1 wheat or 35; choice. tkme oat hay, $340;' otlier nal; alfalfa hay, $30(ixi37; atock hay. J29 Oregort wheat and oat mixed, $2tf3j; No.' 1 barley straw, tQctpl per bale. SeattW Feed and Hay. SEATTLE, Wash., May 12. City deliv ery: Fed mlit. vu per ton; scratcn .feed, $88 ; feed wheat, $97; all grain chop, $78; oats, $76; sprouting? oats. $80; rolled oats, $78; whole corn, $81; -cracked corn. $S3; rolled barley. .e; cupped barley, $si. Hay eastern vvasninfrton : timothy. mixed, $4a per ton; double compressed. $50; alfalfa, $43; straw, $18; Puget sound, $38. ' . Minneapolis Grain Market. MINNEAPOLIS, May 12. Barley, $1.47 P1.49. , r- . Flax No, 1, $4.74 a 4 79. . . Duluth l.inseed Market. . Dl'LUTH, Minn.May 32. inseed, $4.69 -' j Kansas City Livestock Market. . . . ' KANSAS CITY. Mo. May 12. fUnltA ' States Bureau of Markets.) Cattle Re ceipts, 4100; beef steers, steady to strong; top yearunRs, J; nesx neavles, $13.80; Colorado pulpers, $13.1o: she stock, steady to 20c nigner; iwj loads yearling heifers. $13; calves, steady to 90c higher: bulk to choice. $12: other classes steady. Sheep Receipts. 4O00: steady to strong; bulk grass-fed wethers, $11.5012; - bulk ewes. $9.o0 10. 50; Bprlng lambs, 25 to 50c lower: bulk, $19 19.50: goats, steady: bulk, $7,7518 8. - ' Brattle Livestock Market. . SEATTLE, Wash., May 12. Hogs Re-, ceipts, 188; steady. -Prime. $16016.50; medium to choice, $15 16; rough heavies $14(014.30: pigs. )l3i4. Cattle Receipts, none; steady. Beet steers. $1213; medium to choice. $10J12: common to good, 1.S0&10; cows and heifers. $10.25(Jtl 10.75; common to good, $7 10; bulls. $7.508.50: calves. $7.5016. New York Sugar Market. ; ' v. ; NEW YOBK, Mav IS.-Ran ausar, 'tirm. Centrifugal, 19.56c. Refined, firm. Fine granulated, 19.5Q'j!2.",c. . Increase In Wheat Shipmenta. '""Wheat shipments for the pat and former weeks were: v Week Ending May ?. May 1. May lO.'lO U. S. & Can. Argentina... Australia. .. 4.33,000 7.104.0(10 1,056,000 e i M10.000 ' 9,909.000 7.977.000 1.408.0DO 736.000 2.328,000 Total.. .: : 12,393.000 11,423,000 13.645.000 Shipments, for the season to date com pare as follows: - r Total Sinpe Same Period ' July 1. "10. Last Season. U. S. and Canada. . ' 250,021.000 285.231.000 Argentina lS8.07,0O0 72.93.000 Australia 84,039.000 . 50,760.000 India. . . .-.,...-- .120.000 6.461.000 Total. . : . . ' -522,267,000 414,438,000 Metal Market. " NEW YORK. May 12. Copper, Quiet, un changed. Iroa. steady, unchanged. Tin, steady Spot 56.75c; June and. JuJy, 55.75c. Antimony, 10c. . Lead, quiet. Spot and May offered at 9c; June and July offered at 8.75c. nnlet: Kast - St. Louis ' delivery, spot, 7.70c bid: 7.85c asked. ' - ' Naval Stores. - SAVANNAH, Ga., May 12. Turpentln. firm. $1.V5; sales. 82 barrels; receipts. 2,4 barrels; shipments, 030 barrels; stock, 2377 barrels. . Rosin, firm: sales. 437 barrels: receipts, 617 barrels: -shipments. 180 barrels; stock, "0 994 barrels. Quote: B, $14.45; D. $17.45; B. S17.7Q; F. P.. H. I. $17.95: K. $18. Sr.; M. $18.60; X, $18.85; WO, $19.10; WW, $19.35. -Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearings. Balances. Portland $7,553,333 $ 846.560 Seattle........ 8,146.510 1,7M.124 Tacoma 1,179.1136 ' 327.941 Spokane 2.391,537 833,500 Dried Fruit at New York. 'EW YORK, May 12. Evaporated ap ples dull. Prunes, firm. Peaches, in de mand. Hops, Etc., at New York. NEW YORK. May 12. Hops, hides and wool unchanged.. Cotton Market. NEW YORK. May 12. Spot cotton quiet. Middling. 41.40c. ing of grain men, millers and repre sentatives of allied interests held in Chicago May 7. The appointment of Mr. Cohn was announced yesterday by the Port land Chamber of Commerce follow ing receipt of the telegraphic ap pointment from the officers of the Chamber who are now in San Fran cisco attending the national convention. of logs and planks, with a hose at tached to the bunghole, making ft possible to draw the aider without taking the barrel tip. A raiding squad at Leominster. Mass., found a barrel containing 20 gallons of hard cider submerged In a brotk concealed under a framework INSURANCE WE WRITE ALL LINES C. De Young & Co. Main 7351 810 Spalding Bid. GRAIN MAIM APPOINTED A. Cohn Named to Represent Port land at Chicago Meeting. A. Cohn of the Northern Grain and ' Warehouse company of Portland and New York, has been named to rep resent Portland on a committee to be formed shortly of representative mill and grain men throughout the country to consider problems In con nection with the milling and grain business. The formation of the com mittee was recommended at a meet- Pir-War Price $4760 BUY THESE 20 GERMAN BONDS Prenent Price $375 in rtnnria Mark lOOO Kaon 5 German Government's Bond nt 19 Each. Jo Bond. Mark lOOO Kach 3 Ctty of Berlin Bonds a $18010 Eaca. You can buy these 20 Bonds now for $375 cash or on our 10 . months' installment plan, by paying 475 cash . and $30 each month. Confidence in th recuperative powers of Germany Is shown by recent trantlnc of 4S,000,000 by the Chicago packers. These bonds offer an unusual opportunity and with the expected advance In exchange, should how a profit of 30 to r.OO at the end ot 10 months. Wire your order at our expenwe. Complete list ot Government, City and Industrial Bonds mailed on request. Options on German Marks Good for 6 Months 10,000 Marks Option $50 100,000 Marks Option $350 All quotation subject to change without notice. Money transferred to all parts of Kurope by cable! draft ' issued on the IJeutnche Bank, Berlin and all branches In Germany at lowest dnily rate currency of all F.vropriM countries bouprht and sold. s : HENRI & BERNHARD WOLF & CO., Inc. Dralrm in Korclfirn lxchaiire and Foreign Bond. 3SO MADISO..-AVKISLK NKW YORK CITY $150,000 Stock Offering of the Western Rubber Company of Tacoma, Washington PORTLAND BRANCH OFFICE, 903 N. W. BANK BUILDING Portland, Oregon The establishment of a new industry is an event, and has supplied the foundation for many a competency, in not a few instances, for a fortune. Every large establishment you know of today had to have a becriunina;, and those who could see the opportunity while it was yet new have been handsomely rewarded for their sagacity. Later in life their friends called them lucky. It was not a matter of luck, but foresight. The "Western Rubber Company of Tacoma, Washington, offers vou that opportunity now. Our factory for manufacturing automobile tires and tubes is completed, the machinery and equipment installed, and we have assets in excess of half a million. We need additional working capital, which is the reason for this offering. Invest your money in that company which is going- to make your SOUND TIRKS for you in the future. When you? buy a tire today. yu draw your breath with a sigh: while you draw your check for a million to pay for it (so it seems). We invite you to get on the other side of the investment. Tou know there must be large profits in it. which is sufficiently shown by the astonishing growth from small beginnings of rubber companies in the east. It will cost you Just the trouble of signing your name and address on the lines below and mailing same to us to bring to vou our booklet which will explain in detail the merits of this investment. A Big Producing Canadian CITY OF VICTORIA Three-Year Gold Bonds 7V2 Yield These are exempt from all Canadian Government taxation, of course. Circular upon request. But a!k to sec our list of home municipals with splendid yields also. CtARK.KENDALL & CO. INC. Name Street No. ... City or Town lAMdUKdUm-KCIUM OaSana Habirshaw Electric Cable Company 15-Year Sinking Fund Convertible Gold Debenture Bonds, - Series "A," due March 1, 1935. Price 9S and Accrued Interest; to Yield 7.2(Kl The Steel & Tube Company of America General Mortgage Sinking Fund 6. Gold Bonds, Series "B," due July 1, 1944. Price 95 and Accrued Interest; to Yield 6.40 o Motor Wheel Corporation Sr,'c Cumulative First Preferred Stock, Dividends payable February, May, August, November. Price 100 and Accrued Dividend; to Yield 8fc Portland Gas & Coke Company 7 Cumulative Preferred Stock; Dividends payable February, May, August, November. Price 98 and Accrued Dividend; to Yield 7.1rc HALL & COMPANY, Lewis Bldg., Portland Marshall 655. .