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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (July 20, 1920)
TOE MORNING OREGONTAN, TUESDAY. JULY 20, 1920 19, WOOL SHIPMENTS FROM OREGON HEAVY Fully Half of Clip Has Been Already Moved. SALES TO DATE ARE SMALL 3rore Will Be Consigned to Port lam! and Eastern Warehouses Than Ever Before. mined flourm. This order supersedes the one of June 14. when It became necessary to limit the amount of Imported flour used to 20 per cent in England. Ireland and Wales, and 50 per cent In Scotland. Hank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearings. Balances. Portland ?S,lfiM,778 $1,982,828 Seattle .. 8.411, Tacoma 8l"J.176 224,3i Spckane 2.S52.920 1.194.9G1 10 BTLAND MARKET QUOTATIONS Grain. Floor, Feed, Etc Merchants' Exchange, noon session: Bid "Wheat Sert. Oct. Nor. Hard white 2.47 $ 2.47 Soft white 2.44 2.45 White club 2.43 Hard winter 2.47 Red winter 2.42 Northern spring 2.4S Red Walla 2.41 Oats July. 44 2.47 2.43 2.49 2.42 60.00 2.50 2.46 2.4r 2 48 2.44 2.50 2.43 Sept. 55.00 57.00 54. OO 51.00 63.50 55. OO 53.00 62.00 ecanse of the lack ef demand for wool nd the lower prices current now, more Ore son wool Is being; consigned this year than ever before. Fully half of the clip has moved or arrangement made for consigning; and the remainder of the clip, aside from the limited quantities sold arly, will go the same way. Only here and there la a clip being held in the coun try. Of the total output of about 12.000. KV pounds, considerably less than 2,000, 000 pounds have been sold outright. Practically everything in the Pilot Rock section has been or will be consigned mostly to the east. Several Heppner clips were sold and some sent to Boston and the remainder will come here. The bulk of the Condon wools will be consigned to Portland and Boston. Approximately 200. 000 pounds of Condons were sold for east m account. Of the Shanikos practically everything will go east, while the Bend wools will be split, part going to Boston id part coming to Portland. Wallowa old 50,000 pounds and has consigned 200,000 pounds to Boston. The remainder ml the Wallowae Is coming to this city. The eastern view of the wool situation Is thus summarized by a New York trade report : "Although there is nothing on the sur face of the raw wool market to cite as a reason, there is a somewhat better feeling among the dealers. Business, however, continue at a dead standstill and the local factors do not hope for a resumption until the woolen mills again go on a full timet schedule. They do not know when to ex-I p-ct this, but find It difficult to believe that the American Woolen company will remain shut down for mors than one mcnth. "The growers are perhaps the worst sufferers. Reports from the wool-raising sectlcrs of th country indicate that only a small p-rccntae of this year's clip has been disposed of and that for the most part of it Is stored away on the farms. The effect of the action of the federal reserve system In advancing money to the growers has not entirely relieved them of financial difficulties, because the amount to be adv.inc'd on the clip is left largely to the judgment of the Individual banks In the wuot-ra'rting stt ?s. These In turn dis count the paper. The bankers are reluc tant to advance more than 50 per cent of the prlc-a commanded by similar wool last yenr. "With the market In such shape as It Is today, many growers ar seeking to send tt eir raw wool on consignment to com mission houses In Boston. Philadelphia and this citf. Last year this was unnecessary for there was a ready market for all avail able. It was reported in the market here y-islerday that the commission houses are vnwll ling to advance more than 25c a pound for western wool, whereas the low est quotations are at least double this figure. Two reasons are given for this. One Is uo to the stringency prevailing tn the money market and the other Is the fear that the denand for raw wool will continue at low ebb and that the prices xnay fall further." No. 3 whlta feed 65.00 Barley No. 3 blue 57.00 S ar dard feed ......... 55.00 Corn No. 3 yellow fl-TOO Millrun 57.50 No. 3 yellow eastern... 63.00 FLOUR Family patents. SIS 75: bakers- hard wheat, $13.7.5, eat bakers patents. $13.75; pastry flour, $11.80; graham. $11 60; wnole wheat. $11.85. MILLFhiED Prices t. o. b. mill: Mill lun. $5657 per ton; rolled barley, $68072; rolled oats. $7172; , scratch feed. $87088 per ton. CORN Whole. $77078; cracked, $79 80 per ton. HAY Buying price f. o. b. Portland: Alfalfa, $25, cheat $23; clover. $20; valley timothy, old, $3536. Dairy and Country Frodacsu BUTTER Cubes, extras, 63954c pound; prints, parchment wrappers, box lots, 67c per' pound; cartons, 58c; half boxes, ViC more; leas than half boxes, lc more; but t erf at. No. 1, 65 & 56c per pound at sta tions; Portland delivery. 68c. EGGS Buying price, current receipts. 40&41c. Jobbing prices to retailers: Can dled, 4547c; selects, 48 40c. CHEESE Tillamook, f. o. b. Tillamook: Triplets, 29c; Young America. 30c; long- POULTRY Hens. 2027o; broilers. 5 2Sc; ducks. 35-50c; geese, nominal; tur keys, nominal. PORK Fancy, 23c per pound. VEAL Fancy. 22c per pound. Fruits and Vegetables. FRUITS Oranges, $5-7.50; lemons, $4.606 per box; grapefruit, $49.50 per box; bananas, ll&12c per pound; apples, new.' $3.25 4. 75 per box; cantaloupes, $1.70 "7 4 per crate; cherries, 5 lOc pei pound; watermelons, 4o per pound; apri cots, $2.50 per crate; pineapples, 17 c per pound; peaches, $2.252.60 per box; plums, $2.85&3.25 per box; currants. $2(2.50 per crate; raspberries, $4.254.5G crate; casa bas, 6f(J. 7c per pound ; grapes, $2.25 &3.50 per crate; loganberries, $2.753 per crate J pears. $6.50 per box. VEGETABLES uaooage, a'g'Jc per pound; lettuce. $1.50 to $2.50 per crate; cu cumbers, $12.50 per dozen; carrots, $3.50 4.50 per aack; horseradish. 25c per pound; garlic, 40c; tomatoes, $3.7564 per box; peas, 710c per pound; beans, 10 14c per pound ; beets. $3.50 dp 4 per sack ; turnips, $3.50 per sack; eggplant, 25c pound. POTATOES New white, 47c per pound. ONIONS Yellow, $22.50 per sack. STOCKS UNDER PRESSURE MARKET AFFECTED BY RAIL WAY LABOR OUTLOOK. St.Dlo Groceries T..eI Jobbing quotation,: SUGAR Sack bam: Can., cr&nulatea. 23c per pound. HONEY New. TT..V cu,. NUTS Walnuts. 22Q36c: Brazil nuts. 40c: filberts. 30c; almonds. B53be: pea nuts 14&15V6c; cocoanuts. $1.7& per dozen. SALT Halt ground. 100a. 11.25 per ton; 60s, $18.75 per ton; dairy. $27.75 per ton. RICE Blue Hose. 13 per pound. BEANS Small white. 7Uc; large whlta. c; pink. 10-&C; lima, loc per pound; bayous, llc; Mexican red, loo per pound. COFFEE Roasted. In drums. 39030c 111 dr. and Pelts. HIDES Salt hlues, over 45 pounds, 14c green hides, over 45 pounds. 12c; salt hides, under 45 pounds. 13c; green hides. under 45 pounds, 11c; green or salt calf to 15 pounds, 25c; green or salt kip, 15 to 30 pounds, 15c; salt bulls, 12c; green bulls. 10c; dry bides, 22c; dry salt bides, 17c; dry calf under 7 pounds, 30c; salt horse large, $6.00; salt horse, medium. $5 00; salt horse, small. $4.00. PELTS Dry tine long wool pelts. 15c; dry medium long wool pelts, 12c; dry coarse long wool pelts, 10c; salt long wool pelts. $2Qj;3; salt lambs' wool pelts, bOc& $1; salt shearlings, 25?50c; salt clippers, ld2oc Public Interest In Speculation Is Lacking Crucible and Strom berg Show Gains at Close. TCEW TORK, July 19. The .shadow of furtl er labor dl'f Icultles hung over the stock market today, reports from Chlcag and othe-- railroad terminals Indicating that the unions would probably protes against the railway labor board wag award. financial conditions were less acute, last weei.'s exhibits of the local federal reserve bank and the clearing house asso ciation offering ground for the belief that the credit situation at this center is tend ing toward ease. This was borne out by the day's move ments of demand loans, which opened at 9 per cent but relaxed to 8 per cent in the last hour when the market, especially standard industrials, rallied substantially. The outstanding, feature of the trading, however, apart from Us dullness, was the absolute aloofnes.? of public interest or support of any kind, rave that vouch safed by pools In selected Issues. Final pries were irregular, a few favorites, sue! ss Crucible anj Btromberg, showing net gair.s. Sales 315.000 shares. Heavy olllnjr remittances t T.nnrtnn further depreciated cable and demand bills, the Utt.-r falling to S.S3, with con current reaction of the Paris rate and" other continental exchanges, including marks. Bonds were duU and mainlv lower, that ton. characterizing the liberty group, alsc us ana industrials. The one noteworthy exception was the new Armour 7 per cents. wnicn, were considerably above their recent suniK-rlptlon. prl.;e. Total sales, par value $s.350.00n. Old United States bonds un changed on call. CLOSING STOCK QUOTATIONS. Sales. 2.600 1.4H 1.5O0 4I0 2, mo 2i0 SCO 200 1,80 200 1r 1.200 RIM Baldwin t-oco. 22, TOO WHEAT BIOS RAISED 1 TO S CKVT8 Local Market Is Stronger With Advances at Chicago. "With the eastern wheat market 6Vi to 8 cents higher, bids were advanced all along the line on the local board yester day. No sales were posted, but some business In the country was reported. Hard white bids were advanced 2 to 5 cents at the exchange, soft white and white club 1 cent, hard winter 5t'6 cents, red winter 2 cents, northern spring 8 65 cents and red Walla 6 to 8 cents. The coarse grains were weak. Oats, corn and barley bids rangeed from un changed to $2 lower. Millrun prices were advanced 50 cents by the mills. A Chicago crop bulletin said: "Black rust reports coming fast and furious show ing a serious situation. Considerable dam age done by winds and hail and thunder storms in northern and western Nebraska Saturday." Minneapolis wheat stocks decreased 200, 60O bushels and rye stocks decreased 55.000 bushels in two days. Galveston cleared 2,111,000 bushels of wheat yesterday. A record wheat crop in India for 1020 is Indicated by the latest estimates which place the output at 10.0M.OOO tons, com pared with T, 407,000 tons last year. The Roumanian government has author ized exportation of 10.000,000 bushels of corn. Terminal receipts. In cars, were reported by the Merchsnts" Exchang as follows Portland Wheat Barley Flour Oats Hay j.itn,(rt j .... Tear ago Sea'n to date. "Xear ago Tacoma Saturday . ... Tear ago Sea'n to date. Year ago Seattle Saturday .... Tear ago Sca'n to date. Tear ago Provisions. T.oeal jobbing quotations? HAMS All sizes, 42 48c: skinned. 41 94tic; picnics, 25c; cottage roll, 33c tierce oasis, rfoc; snortenlng. 2 We per pound. DRY SALTS Short, clear backs, 250 29. er pound; plates. 23c. BACON Fancy, 4Ul38c; standard. 839 45c per pound. . Wool. CaRcars. Etc MOHAIR Long staple, 25c per pound. " TALLOW No. L 8c per pound; No. 2. 6o. CASCARA BARK Per pound, gross weights, old peel. 12c; new peel, 10c per pound. wool vauey, meaium, aoc per pound; illey, coarse, quarter blood. 20c; coarae low and braid, 15c; coarse matted, 12c HOPS Nominal. GRAIN BAGS Car lots: July, 20e; August. 19 tec 4 03 12 no i no 111 28 51 42 . 51 .7 2 .... n I n 2 SB ... . 2 5 .... .-, 35 20 1 24 1 .... 1 .... 1 13 1 4 7. 44 2 it .... p.-, "T 1 26 17 13 APRICOTS COMING FROM THE DALLES First Turlork Cantaloupes Are Due Within Next Few Days. Apricots or good quality are coming from The Dalles and selling at $2.50 box or 12 cents a pound In lugs. The rirat California Bartlett pears were received and quoted at J6.30 a box. Cali fornia Gravenstein apples are arriving in regular apple boxes and selling at. $4.75. Raspberries were in moderate supply and firm at $4.254f4 50 a crate on the street Most or tne cantaloupes received were green. The first Turlock cantaloupes are expected In the next day or two. Butter Market Is Steady. The butter market was steady with good demand for cube extras at around 54 cents, but not much call for the towe grades. bggs were firm as the receipts were small and the demand very good. Prices were unchanged from Saturday. Poultry and dressed meat receipts were light and prices unchanged. Decrease in Visible Supolv. The American visible wheat supply com pares as ioiiows; Bushels. July 19. 1020 1B.140.000 July 2t. 11119 6.518.000 July 2.".. 11117 9.621.000 July 24. 1!18 3S.B35.000 July 25, 1915....;... 5.S32.0OO July 27. 1114 24.184,000 Decrease. 2.333.000 1.185.000 363.000 1.046.000 429.000 5.478.000 Increase. The corn visible Is 6,251,000 bushels, an Increase of 692.000 bushels; oats, 4,806,000 bushels, an increase of 200,000 bushels rye, 2.352.000 bushels, a decrease of 1.203 (MM): barley, 2,384,000 bushels, a decrease of, 489,000 bushels. British Floor Mixture. A cablegram to the Northwestern Miller from Its London office states that mil have been ordered to mix no more tha 10 per cent at imported flour with home A m Can . , . . . Am Car Fdy Am H & L pfd Am Inter orp A m Loco .... Am Sm & Rfg A m Sugar .... Am Sum Tob. Am Tel A Tel Am Woolen .. Am Z L & Sm Anaconda Cop Atcnison Bait & Ohio Beth Steel B.. Calif Petrol . . Canadian Pac. Cent Leather. Chand Motors. Ches Ohio. . Chi M 4 St P Chi & N W ... Chi R I & Pac Chino Copper. Coi Ku & Iron Corn Products Crucible Steel. Cuba Cane Suff Erie . . . . Gen Motors . . Gt No pfd . . .. Gt No Ore ctfs Illinois Central Inspir Copper. Int M M pfd.. inter Nickel.. Inter Paper .. Kennecolt Cop Mexican Petrol Miami Copper. Mid States Oil Mid vale Steel. Missouri Pac. Nevada Cop . . N Y Central .. N Y N H A H Northern Pac. Ok Prd A Rfg Pan-Am Petrol Pennsylvania . Ray Con Cop.. Reading Rep ir & Steel Roval Dutch.. S T & T ex dv Sin Oil & Rfg Southern Pac. Southern Rv.. S O of N J pfd Studebaker Co Texas Co Texas & Psc Tobacco Prods Transcont Oil. lTnlon Pacific. II S Fd Prods. U S Ind Alco.. 1J S Retl Strs. II S Rubber .. U 8 Steel V S Steel pfd. Utah tapper.. Western Union Westing Klect Willys-Overlnd fiOO 5.8O0 200 I, .no !no 1,100 400 noo BOO 3,000 500 :io 1.200 6.100 1.3IH) 500 10,"00 oo 1, ::oo mo oo noo 1,900 7"0 no 5.700 4U0 2.600 800 1.5O0 200 40O 2.IOO 2,100 2.200 9.900 1,600 900 9.400 3.200 1.S0O BOO 1.400 3.500 II. . -00 l.loo B.300 6.200 1.9O0 fiml 1.1100 1.200 700 S.IOO 2,100 7.20O 13,800 oo IOO IOO 1,800 2. UU0 Last High. Lov. Sale. 39 4 '! 39 136li 134 Vs 138 is 86 S3 86 84 ti 8:t 84 Vi 97 Vt 96 S7 60 58 59 4 124 Vi 124 124 't 90 i 89 90 '4 94 V, 94 14 Si-Ti 86 '4 87 14 14 14 5.-.Vi S3'4 . 5314 SOVi 795 79, US' 11514 117T4 31 '4 3114 31 Vi 88 87 '4 SS 30 4 30 1, 30 119 lis 14 119T 63 afi 62 '4 63 07 V4 95,i 7H r.414 54,k- 64H S3 33 33 70'4 70 70V4 36 35 H 36 Vi 29 M 29 29 31 U 31 'i R1VJ 92 91 '4 92 155 150 V3 153 51 5014 50 V4 12 124 12 Vi 25 'A 24 '4 24 69-4 69 . 694 35 35 35 81 80 SI 50 49 v 50 81 14 81 Vi 81 Vi 1"4 17 17Vj 83 "4 83 '83 254 25 i.i 25 191 V4 187 Va 191 20 Vi 20 Vi 20 Vi 21 21 21 ' 407 40 40 25 Vi 25 Vk 25 Vi 124 12 12 61 6S Vi 68 'i 29T4 29'. 29 71 70 Vi 71 '4 4 V4 4 '4 4 V 102 100 10-Vi 3914 39 39 1 H '4 16 16 88 "4 87 88 90 V4 88 14 90 113 IU' 113 74 Vi 74 74 Vi 31 30 31 93 92V4 92 Vi 29 '4 28 28 105 '4 IO514 105Vi 70 68 14 70 V 46 '4 45 '4 45 V4 4014 38 30 6t 66 4 66 14 14V4 14V. 115 1 1 4 Vs 1 1 4 64 '4 4 64 88 87 88 Vi 74 72 73 93 91 '4 92 Vi 91 90 91 108 107 107 67 Vi 67 Vi 67 Vi 8:: v. 82 '4 8- i 48 48 48Vi 18l 1S- IS a. :ilIHiillliliialllllllillP U. S. 2s reg. . .100 do coupon. .100 U. S. 4h. reg... 105 Cv. 4s cou. .'105 Pan. 3a, reg. ...77 do coupon . . . 77 Ang. French 5s 99 A. T. & T. cv. 6s 92 Atch. gen. 4s. 73 V4 D. & R. Con. 4s 62 Vi N. Y. C. deh. 6s 86 Nor. Pac. 4s... 73 V4 Nor. Pac. 3a... 52 Pac. T. & T. 5s.S4 PONDS. Penn. con. 4V4s.87V4 sou. Kac. cv, as sou. Ky, os. Un. Pac. 4s. U. S. Steel 5 U. S. Lib. 3Vi. do 1st 4S do 2d 4s do 1st 4 V4s. ...85.72 do 2d 4V4S.. .84.84 do 3d 4V4S...88.56 do 4th 4s. Victory 3s.. Victory 4s. . 79 . 90 .90.92 .. .85.46 ..84.70 85.18 .05.80 .95.84 Boston M ining Stocks. BOSTON, July 19. Closing quotations: Allouez 28 Arizona Com... 10 Cal. & Ariz.... 57 Cal. & Hecla..300 Centennial .... 11 Oils. LINSEED OIL Raw, barrels, $1.83; raw, drums, ai.uu; raw, cases, si.us; boiled, barrels, 91.&5; boiled, druma. $l.t2, boiled, cases. $2. TURPtNTIMS xanas, i.:h; cases, 2-il'.. tOAl, uiir iroo uarrcia, x yg wife; cases, Zi4C G A SO LIN fa, Iron barrels, z.o; tank wagons, xoc; cases. dtc fe'UfeL. OIL, JbJuik. 92.10 per barrel. Cop. R. C. C... 37 Sup. & B. M. i-juite oop. . i z t wnannon ... Franklin 80 rtah Con... Isle Roy. (Cop) lit j Winona .... Lake Copper.. 3 I Wolverine .. Mow hawk 60 I SAX FRANCISCO PRODUCE MARKET Prices Current on Vegetables, Fresh Fruits. Etc., at Bay City. SAN" FRANCISCO. July 19. Butter Extra grade. 59fec; prime firsts, 5 Sc. Eggs Fresh extras, 60 c; firsts. 55c; dirty. No. 1, 54c; extra pullets. 47c; undersized pullets. 35c. Cheese Old-style California flats, fancy. 4c; firsts. 29c; Young America, fancy, 3c. Poultry California hens, larjre, 35n8c: kttihIi. 22 W 26c: strictly young roosters. :isfii 40o: old roosters. 15ft 17c; fryers. 34 40c; broilers, larse, isorgrsi-e; smau. m fa :i0c; ducks. 20 & 25c; pigeons, old, $2.50 rg3.C0 per dozen; squabs, oi as ouc pei pound. Game Belgian hares. i?c per id, Veiretables Beans. Stf12c; bell peppers oer nound. large. iuuizc. small, am 10c: chile. 10ff12c; tomatoes, soutnern California, fancy. $1.75(?f 2.25; Merced. 40 85c small box; lug. 11,75: cucumbers. natural growth, XofiroOc small box. BOiSf-TSc luc: bay. $22. 2. lug; butter, si. st green onions. l ?? 1.25 box; eggplant, 5(ff Sc: Livingston. ftfS'lOc per pound; peas. Hfffftc pound; summer squash, lug, river. 50'a,85c1 bay, 7;c(i'Sl: Italian squash, i 9tl corn, sack. $4.50$j; celery, $.7.o0 crate. Potatoes. Rwoc pound; no. 2. 24c pound on street; sweet potatoes, 1 0 1 5c per pound. Onions Yenow. i jji.ju; rea, i 1.23. Fruit Strawberries, 8-ounce baskets, 85c?r $1 per drawer; 12-ounce baskets, $1 fff 1.35; raspberries. 8oc$tsi per drawer blackberries, 50(fr 60c per drawer; logan berries. 50 (ft-ftoc per drawer; black logan berries. 40tf? 50c; cantaloupes, standards. S3 8 3.50; ponies. $2.75(?3; flats, lt. honeydew, $1.501.75; watermelons, 3c per pound; bananas. Central American. 8!c; Hawaiian, 9lOc per pound: pine apples. $45 per dozen: Valencia oranges. S4.50w6.5O; lemons, S2(5'5; grapefruit, f 2.50 3.50; apples, red and white Astraohan, 4r4-tier. $1.50tftl.T5; 4-tier. S2O2.50: apri cots, S'S'Sc per poujid; peaches, 65c?$1 per small box ; lugs and crates, S 1.25 if 2 baskets, 75ctfr$1.25; cherries, black, 1 2 (fr-24c per pound; Royal Anne, I218c; Oregon blacks, $lifr2.25 per box; Royal Anne. $1.25 1.50: - plums, all varieties, $I.251.75 per crate or box: Santa Rosa, $22.25 pears, Bartlett. $2.0003.50 per box; Made line and Dearborn, $101.50 per box; figs, s-lngle-layer box. 11.25: double-layer.. 9t white. $1: rhubarb. $1.5001.75 per bo: grapes. S1.5O03.5O per crate. Receipts 'Flour, 9742 quarters; wheat R05 centals; barley, 5350 centals; beans, 04 sacks; potatoes. 1290 sacks; onions, nfi4 sacks ; wine, MHK) gallons : oranges. 1000 boxes. Metal Market. NEW TORK, July 19. Copper, steady. Electrolytic, spot and third quarter, lc iron, steaay, iso. i nortnern. 548 $v 4f No. 2 northern, $47048; No. 2 southern, 94. 5 Tin. steady. Spot, 50c Antimony. 7.87Vie. Lead, quiet. Spot, Sc. Zinc, steady, Spot. 7.75 ? 8c , k North Butte. . . Old Dominion . lOsceoJa. Uuincy Superior 16 24 38 50 1 64 45 Money, Exchange, Etc. NEW TORK. July 19. Mercantile naoer Exchange. heavy. Sterling, demand 3.K3U; cables, $3.84. Francs, demand, 8.23; ables. 8.25. Belgian francs. demand. 5; cables. 8.77. Guilders, demand. 34.75: cables. 34. 1 7, iire, demand. a.Kti; cables. 88. Marks, demand, 2.56; cables. 2.57. Drachmas, 7.60. New York exchange on .Montreal, ia14 per cent Discount. Time loans strong; 60 days, UO days and O montns, ny. Call money, strong: high. 9 per cent; ow. 8 per cent: rulinc rate. 9 oer cent: closing bid, 7. per cent; offered at 8 per cent; last loan, per cent. Bank acceptances, 614 per cent. Bar silver, domestic. ttuVxc; foreign. c. Mexican dollars, t7Vc. LONDON, July 19. Bar silver. 52d per ounce. Money, 5 per cent. Discount rates, short bills, 6 per cent; three months' bills. u?a per cent. CHOP NEWS IS BULLISH BLACK RUST DAMAGE WHEAT IS SPREADING. TO Drouth Conditions Are Reported North of Canadian Boundary ; Export Business Is Brisk. CHICAGO, July 19. Bullish crop re ports from both sides of the Canadlat boundary led to a sharp advance today tn the price of wheat. The market closed stronfr, 6hc to 8c net hig-her, with De cember $2.50 and March $2.65. Corn HALL & COMPANY BUT AND SELL Railroad Public Utility Industrial Municipal BONDS YIELDING 5 to 7o Foreigrn Government Loans Local Securities Preferred Stocks Lewis BIdg., Portland, Or. Short-Term vs Long-Term Investments Investors are purchasing short-term securities because of their high yield and relative price stability. There are strong arguments, however, for purchasing securities which should insure to the investor present high income returns for a long period of time. An ideal combination is a short-term security with a privilege of conver sion into a more permanent investment. This combination is afforded by the notes described below. A Complete Unit in an Essential Industry Facts and fimtre compiled by th Sinclair Company Produces, transports, refines and markets petroleum prod ucts. About 1000 producing wells. Approximately 2S00 miles of pipe lines. 64 pumping stations. - Over 4000 tank-cars. 10 modem refineries with, total daily capacity of about 45,000 barrels. 10 casinghead gasoline ' plants. 400 distributing stations in SO states. About 6000,000 barrels crude oil va. storage. Marine fleet of 50,000 tons in service. 1919 net earnings before interest and reserves $21,890,898 Total similar net earnings for last 3 years 550,666,582. To yield 8 Five -Year Secured Vd Convertible Gold Notes of the Sinclair Consolidated Oil Corporation (chick has furnished us with the Jblloxcing information: These $50,000,000 Secured Notes are the sole funded debt of the enterprise, excepting equipment notes and other items aggregating about $5,275,800, and against this the audited statement shows total net assets, including the proceeds of this note issue, of over five times the amount of the note issue. The consolidated net earnings over a series of years make a consistent and convincing record , the audited statements showing an amount available for in terest, depletion,etc, equal to 5.83 times the annual interest on these notes for the year 1919, and averaging over 5 times such interest for .the past three years. The notes have the benefit of a sinking fund provi sion at the rate of $2,000,000 every six months for the purchase of the notes at or below 100 and interest. A feature is the noteholder's privilege of converting each $1,000 note into $1,000 par value (ten shares) 8 Cumulative Sinking Fund Preferred Stock and 2 j shares Common Stock of the Company.. These secured notes may be purchased in denominations of $1,000, $500 and $100. Interest payable without deduction for the Federal Income Tax up to 2. Write for illustrated booklet I We offer and recommend these notes for investment at 98 and interest, to yield 8 Security Savings and Trust Company Portland. Oregon Thm mtmtmmmnta prffMn( in thtm advert immmmnt. uthilm not waararttmmJ, mrm obtained from aoarccf which wo bmiimvm to bm roliabl: !lii)ljllillll!l!illlllH 20,000 TAX EXEMPT GOLD BOVDS OK TUB COUNTY of POWER IDA. YIELD ri1 'III! Crratad Hlgbwsy District General Obligation. Dated May SO, 1018. Dae Serially 1030-3S. Denomination $1000. Price 100; Yield 6. Principal and Seml-Ajinaal Interest Payable at National Bank of Commerce. Jiew York City. HP HE Crystal Highway District embraces the most fertile, pro ductive portion of Power County the state's premier grain section, in the southern part of Idaho. The Oregon Short Line furnishes rail transportation. 'TpHE total bonded indebtedness (this Issue only) Is but $25,008; real estimated valuation $1,000,000 less than 3 per cent about 60 cents per acre of the and within the district. Telephone or Telegraph. Orders at Our Expense. II! ,1:!' Morrbs Brothers ies Mom Tlo '7-'TSTnjsrcMunicipaJ BondHousa '!'! I'll lit: tit: Bferria BMt, o-ll 8txk Bet Fifth IMaskMM Uvsakdwajr Zll CjEW-rwrr rained 293e, oata ?l4c and pro vitiions 2 V c to liOc. Wheat finished at thn topmost level oi he day in decided contrast with weak ness which characterised the opening1. The bearish factors early included free eel una; of rew wheat by the routhwest. Besides,,' ri.ft reports were optimistic refarams chances that black rust damage would not be serious. Later, however, numerous dis patches came from Minnesota and else where, Indicating that despite recent fa vot able weather heavy damage was de veloping. Advices of drouth and exces- i s)e bat in Saskatchewan were also made much of by the oulls, together with gos sip that a brisk export business In wheat was going on, with the .country selling some direct at S2.i3 track New York. A big elevator concern here was conspicuous In the late buying. Pctsihllity of a railroad strike did a good deal to strengthen the corn market and oats as wll. Provisions advanced in sympathy with hogs and strain. The Chicago market letter received yes terday by the Overbeck & Cooke company of Portland, eaid : "Wheat Northwest weather over Sunday was construed as favorable and this mar ket was quick to reflect a sharp decline in the nortnwest. The trend suddenly changed and the advance that followed was rapid and without any intermediate setback of importance. More complaints of damage due to black rust were received than on any one day this season and from new territory. A car of No. 2 red wheat from an Illinois point sold at 5 cents de cline compared with Saturday, while at the same time bids to arrive were ad vanced 3 cents, the first sign of improve ment since trading tn wheat futures was iraugurated. Liberal exports sales re ported and a stronger feeling obtained at the seaboard and at the gulf. Visible sup ply decreased 3.23:., 000 bushels. The ex pert demand promises to overshadow the effect of new-crop offerings for the time Corn with tne exception or a small break earlv in the da v. based on the de rlir.e in wheat, the market had a strong tone throughout the session and closed at best pi ice since the low point was leached last week. Diaauseting rumors re garding tne possimnty oi further labor troubles on the railroads should the wage award to be announced tomorrow Drove ureatisfactory, contributed to the uneasi ness of the shorts as did the low tern neiatures of the surplus corn states. Re ceipts have shown a material falling off and will be mucn lighter as soon as corn now In transit has been cleaned up. Since the middle of last week the tide has gradually turned in favor of holders and with the market thoroughly liquidated a higher range of prices should result. O.its Fluctuations were Induced almost entirely by the action of wheat and corn Cash started steady to a cent higher, but sngged toward the close owing to light demand. Crop conditions generally favor able. We look for futures to follow th upturns in wheat and corn to a moderate extent. Provisions xne aavance last week was continued this week and was followed by general short covering. Leading buyers on tne recent decline were the most conspic uous .sellers at the advance today. We think the mnrk.it has enjoyed sufficient recovery for the present, especially in view of the fact that there has been no sub stantial improvement in the foreign de mand. Leading futures ranged as follows: WH EAT. Open, High. Low. Close. Dec V2.M 92.. 92.48 92. AO Va March. 2 55 Vi 2.65 2.32 2.65 CORN. Sept. ... 1.4914 1.52 1.48 1.S2V4. Dec .... 1.37 1 .39 H 1-33 1.30 Vi OATS. Sept 7flS .77 .7 .77H Dec 16 Vi .78 s .75 .76 firsts, 43 ir 44c; ordinary firsts, 30Vk40Vsc; at mark, cases included. 40s?42Vs; storage packing extras, 45 Vac; storage packed firsts. 44Uti4.r.c. GRINNELL JulT. Sept. Oct la. 85 28. R2 LARD, 19. 5 20.00 PORK. 28.50 M 3T 19.80 27 10 28. 60 10.45 SHORT RIBS. July 16.03 Sept 1T.0S 17.13 16.92 16.2 Cash prices were as rollows: Wheat No. 2 red. 2.80: No. 1 hard $2.87: No. 2 hard. $2.85: No. 8 hard. $2.82. Corn No. 2 mixed. $1.53 V4 1.54: No. 2 yellow. fl.54Wl.55. oats no. 2 wnite. BoViWuunc: io. s white. BHS68. Rve No. 2. 2 22H2.23. Barley $1.17125. Timothy seed $1012. Clover seed $2535. Pork Nominal. Lard $18.95. Kibs $15.50 16. 50. ' Grain at San Francisco. SAN FRA'CI3CO, July 19. Barley $2. 75ft 2.8D; oats. $2.8oft 3; corn, yellow, nominal. Hav Wheat, five-wire bale, lljrht. $26 2S ton: tame oat. 2&28; wild oat. $20 0 22: barley. $20S23; alfalfa, first cutting. $20 25; second cutting. S24&28. Seattle Feed and Ray. SEATTLE, Wash., July 19. City deliv ery: Feed -Scratch feed, $90; feed wheat. $95: all grain chop, $80: oats, $78; sprout ins oats, $81; rolled oats. $80; whole cm. $84; cracked corn. $86; rolled barley, $75; clipped barley. $80. Hay Kastern Washington timothy, mixed, nominal; double compressed, $51; new alfalla, $jb; straw. $22. Seattle Wheat Market. SEATTLE, Wash., Julv 19. Soft wheat, $2.53: red Walla Walla. $2.50: white club, northern spring, hard winter and red win ter, $2.52. Minneapolis Grain Market. MINNEAPOLIS, July 19. Barley. 9ScS $1.15. Flax, No. 1. $3.48&3.53. Eastern Dairy Produce. CHICAGO. July 1. Butter, firm Creamery. 4455c. Egrirs. unsettled. Receipts, 12,006 cases: The Value of Liberty Bonds Is shown in our new folder describing the original and converted issues of Liberty Bonds and Victory Notes. Copy on request lor OE-317. The National City Company Correspondent offices In more than SO cities. Portland Yeon Building Bond Telephone Main 607. Acceptances. Preferred Stocks. ISP i$k ills When the Fire Starts the Water Starts In case of fire your insurance will cover part of your actual property loss but Will your fire insurance cover the tremendous losses due to lost profits, interrupted operations and general business demoralization ? 2,000 men see the business efforts of a life-time destroyed by fire every year. Make your business fire-proof with Grinnell Automatic Sprin klers. When the fire starts the ivater starts. Ask your insurance broker. GRINNELL COMPANY of The Pacific 1517 L. C. Smith Building Seattle, Washington If 'r semi-annual Remarkable investment oppor tunity is offered by the 5-year secured convertible gold notes of one of the greatest corpora tions in America, the Sinclair Oil -Co. Dated May 15, 1920. Due May 15, 1925. Denomina tions $100, $5d0, $1000. Notes are convertible at the option of the holder into ten shares of 8 pre ferred stock and two and one-half shares of com mon stock of the com pany for each $1000 note. 5-year VAs at 98 to yield 8 Cash or Partial Payment Plan Full details on request Wire orders "collect" rillUIIII M MAIMS-iO R H MORTMaTTERM BAM BLD6. M The Average Bonded Debt per Acre of these four rich counties is only $1 .50 You know what the Talue of their productive lands is, and know, too, the substantial character of the counties. These Bonds Are General Obligations of the County PKICES TO YIELD 6 NET Denominations $250, $500, $1000 Income Tax Exempt Issued for Road Building Purposes County of Yakima, Wash 69i Bonds Lincoln, Wash , 69o Bonds-r Yield 6 Adams, Wash 67e Bonds Yield 6 Whatcom, Wash 6 Bonds Yield 69o Full information on request. Itunte Undur S nperteiov Opocm Siila Banking Departs! en:C B0NDS TRUSTS ACCEPTANCES Lumbermens BIdg. Order by Wire, Phone, Letter or Call 1 Straight Talk To Credit Managers The American's Policy of Credit Insurance is one of the 'most helpful and constructive business forces at your disposal. It is a con stant guarantee of any executive's good judgment in extending credits. Consider these facts: The death rate in the U. S. Army, ages 21 to 3 1, for the week end ing June 11, was only 60 per million. The civilian death rate, same ages, is 8000 to the million. The strict health precautions of the army have thus reduced mortality more than a hundred fold. The yearly average number of commercial failures in this country is approximately 10,000 in each million. This excessive failure waste can be very substantially reduced by Credit Insurance as issued by the American Company. Take 2 given number of merchants with our credit insurance and their losses will stay within the normal. Take a given number without insurance and their losses will average above the normal. Let us demonstrate to you that Credit Insurance is the Credit Man's Best Friend. Write or phones no obli gation. AMERICAN CREDIT-INDEMNITY, CO. of NEW YORK E.M. TREAT, president ISSUES STANDARD UNLIMITED POLICIES H". T. MacRilL General Agent Board of Trade BIdg. Portland, Oregon Phone Main 1179 asos For Sale 10.000 Hamtjurg- 4 bonds 28.50. 5,000 Superior Portland Cement 8. 100 Western Rubber Co. $6.00. 6.000 Queets Trading Co. 9V cts. 50 Dennos Food Co. bid. 20 Oregon Electric 6 pfd. bid. 25 American Lifeogxaph bid. 1,000 Idaho Gold & Ruby .20. 100 U. S. Oil & Gas (Portland) bid. FIerrin 5 Rhodes'inc, . ESTABLISHED ISM. I STOCKSand BONDSj Rail war Exchange Bids;. Mala 383. Members Chic&go Board of Trade. German Bonds Greatest Investment Opportunity! Do You Know Why? The Value Behind Them? How They Are Secured? Write for special letter showing enhancement in value with repurn to normal exchange rates. HENRI & BERXHARD WOLF & CO., INC. Dealers la Foreign Bonds and Foreign Ex change. 28 Madison An, New York. J