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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Oct. 7, 1920)
17 WEW TYPE SAMPLES K OF EXPORT WHEAT Announcement o enng Grades Made Up by Chamber of the Portland Vegetable of Commerce Committee. Co. STANDARDS GO TO EUROPE ix Classifications for This Tear's THREE OF EDMONTON'S TWENTY-SIX BANKS AND BRANCHES. Wo offer subject to prior sale and change In price. The Unsold Portion General Obligation 6 Gold Notes Crop Barley Will Be Taken rp Later. TIIE MORNING OltEGOXIAX, TIIUItSDAY. OCTOBETl 7, 1920 " i ' t - I - f,.vft fir'iii' r'J m' "tt in. i t Mock un Oil V New type samples of pacific northwaet ro mheat of the 1020 crop were made up yesterday by the CTain standard commit te of the Cnamber of Commerce. The new types are blue Pacific, white Pacific, white Walla, red Pacific, hard Pacific and spring Pacific The samples will be sent to the Liverpool and London grain xchanges. Barley standards will be fixed later. Th wheat market yesterday made a partial recovery from the slump of the two preceding days. At the Merchants' xchang hard white bids were advanced 10 cents to $2.10 and soft white 10 cents to $2. Club was 8 cents higher at 'l and bard winter and northern spring made imilar gains, with J1.9S bid. Red "Walla was 7 cents higher at $1.1)3. If there was any business passing in the country mar kets it was not reported. Many, farmers continued to offer their grain, believing that the day's upturn was only temporary. Coarse grain bids were materially high er than the preceding day. Offers for whiteoats were $3. SO higher and gray oats were $2(&3 higher. Brewing barley bids wereadvanved $4 and feed barley $3. Of fers for bulk corn were raised SI. The millfeed market was lower, re flecting previous declines. Mill run was quoted at $50, rolled oats at $33, rolled barley at $55 and cracked corn at $64 ton. Terminal receipts. In ears, were re ported by the Merchants' Exchange a4 follow Wheat Bar. Fir. Oats Hay Portland. Wed'day 4 Year ago 7U Season to date... 4043 "Tear ago 21)01 Tacoma. Tuesday 60 Tear ago 54 Season to date. . . lOitO Year ago 183." 56 106 25 r.o 23 107 84 4 4 239 1 100 30 1 1 54 7i 12 S&7 552 5 4 272 290 OREGON HOPS ARE SELLING LOWER Market Now Stands at 35 Cento TTith Fair Trading. The Oregon hop market has taken an other 5-ccnt drop and now stands at 33 cents. Several hundred bales have changed hands In the past few days at this price. Some inquiry was reported yesterday at the 35-cent level, though only two buyers are known to be in the market. It ie prob able that a part of the latest buying was done on new orders. Growers are offering with a fair degree of freedom, though they are not pressing sales as hard as last week. The opinion prevails in the trade that there will be enough buying from now on to give sup port to the market and check the decline. CALFSKIN PRICES SLUMP IN EAST Large Lot or Chicago City Skins Change Hands at 20 Cents. As showing the" condition of the calf akin market throughout the country, tne following telegram was received from Chi cago by the K. F. Norton company yes terday: "Ten thousand Chicago city calf skins sold t 20 cents, a decline of 5 cents from a week ago." In the local market 20 cents was quoted on skins yesterday, which is plainly In line with eastern prices. Based on the Chicago quotation, dealers figure that calf skins are worth no more than 15 cents here. The hide market continues In a demoral ized condition and local prices are not available. In the east the last sale of packer hides was at a decline of 2 cents from the previous sale. FAIR LOCAL TRADE IN APPLES Prices Hold Steady In Northwestern Pri mary Markets. ' There was a fair trade in apples In the local market and prices were steady and unchanged. Shipments from Oregon Mon day were four cars. Spokane wired the following f. o. b. car lot prices on medium to large sizes: "U'enatchee valley Delicious, extra fancy, $2.752.rK; C grade, $2; Jonathans, extra fancy. $2.25 2.33; fancy, $2: Winesapa, extra fancy, $22.."0; fancy, $2; C grade, $1.75. Yakima valley Jonathans, extra fancy, $2.25(6)2.35; fancy. $22.10; C grade, $1 75l.S5. Other districts. King Davids, xLra fancy, $2.25; fancy. $2." Another Decline in Sugar. Another 50-cent decline in sugar was announced by jobbers yesterday. The new price mill take effect today, when a fresh shipment arrives from San Francisco. Added to the previous decline of $1.50, it will make the new wholesale quotation $13 a hundred. Beet is quoted at $12. SO. NEW YORK. Oct. 6. Raw sugar, cen trifugal, $8.51; refined, $11.50 by one dealer, other dealers $12 to $12.50. Onions Not Ready to Ship., There is some shipping inquiry for Ore ron onions, but there are not enough of them in shape yet to start the movement. If the growers could have a few days of sunshine to dry the onions off carlot ship ments would begin. The stock that is being marketed now Is going Into local channels. Tne country price holds at $1.50 a hundred. Cube Ktitter Market Steady. The cube butter market was steady with ales of extras at 53 cents. Print prices mero well maintained. The demand for eggs was not brisk, but supplies were bo small that former prices held. Poultry and dressed meats were steady at firmer quotations. Tokay Grapes From Grants Pass. Tokay grapes from Grants Pass, of good appearance and quality, made their ap pearance on the street yesterday and sold at 11 cents a pound in lug boxes. Califor nia grapes were plentiful and prices were unchanged. Hank Clearings. Bank clearings of northwestern cities yesterday were as follows: Clearings. Portland $'.i,Gl3.l0 Seattle t,5M.44ti Tacoma 824, SNA .Spokane 2.521,012 CITY of EDM 0NT0N (Province of Alberta) Yielding Exempt From All Dominion Government Taxation Dated September 1, 1920 Maturities as Follows: Due Sept. 1, 1922... Price 94.82 Due Sept. 1, 1923... Price 92.45 Denominations $100, $500, $1000 Principal and semi-annual interest .March 1st and Sept. 1st, payable in U. S. Gold Coin in New York and at the offices of Morris Brothers, Inc. In addition to being General Obligation Notes, these are secured by t long time debentures totaling $2,594,420 With twenty-six banks and Branches operating In Edmonton, this progres sive city of 60.000 to 70.000 people is trie financial center as well as the capital of the Province of Alberta. These banks serve as a clearing-house for the "wealth in and surrounding this bustling city Into them pour the resources of Edmonton's' industrial enterprises, and the money derived from the great agricultural wheat and stock-raising country that claims Edmonton for its financial center. Similarly Edmonton in the great railway and distributing;, center between Winnipeg and the Pacific coast. Three transcontinental railroads, together with their branches and local lines, carry the products of the great tributary district to the doors of Edmonton's warehouses for further distribu tion and shipment. Pulling out of Edmonton, these trains are laden with the supplies and equipment required In this vast empire. FINANCIAL STATEMENT- Gross assessed valuation .......... .86, 605, 715 00 Value Municipal Property (not including Public Utilities) ................. 11,035.376.00 Net Debenture Debt 9,488,997.00 Revenue from Public Utilities (above cost of operation) 767,773.00 Net Local Improvement Debt (rate payers' share) 3.046,763.00 IgaJity approved by Malone, Malone A Long, Toronto, Canada. MOR Portland, Or., lorrl HUIk- 300-11 Stn.rU St. Broadway 2151. ROTHE The Premier Manic! pal Bond Hon we." Em t a blinked Over a Huarter Century. Capital Over Million Dollnrn. Merchants National Hank JBlda;. San Franciweo, Cal f Telephone or Telegraph Orders at Our Expense RS, Inc. J . Seattle, Want, B No. 3 Central Bide. S Main 7227. ft Elliott 2S40. ft hard whpat. fit. 50: baker" bloestem patents, 11.2S; valley, J10; whole wheat. $10.40; graham, $10.20. MILL tefciU trices I. o. o. mm; jiliii- run, $30 per ton; rolled barley, $5501; rolled oats, $53; scratch feed, $75 per ton. CORN Whole, $61; cracked, $04 per ton. HAT Buying prices, f. o. b. Portland: Allalfa, $230-'4; cheat. f2lt22; clover, $J2; valley timolhy. new, $J7lg'28. Dairy and Country Produce. BUTTER Cubes, extras. 575Sc per lb.: prints, parchment wrapped. In box lots. tiOc per pound; cartons, 61c; hale more; butterfat. No. i, 55iS56c per pound at sta tions; Oc Portland delivery. EGGS Burins price, case count, 61c; Jobbing prices to retailors, candled, doc; selects. 70c. CHEESE Tillamook, I. o. b. TinaroooK: Triplets. 31c; young America, 3Jc POUUTRV Hens. 18(&i28c; springs, 28 9 30c; ducks, 2532c; geese, nominal; tur keys, nominal. PORK. Fancy, 21c per pound. VEAL Fancy, 2'2c per pound. Fruits aiid Vegetables. lmiTTTS rT-a Tcn iAas.50: lemons. ti.M&o.ZO per box; grapefruit, $2.75106 per box; bananas, 1213VsC per pound; ap ples, $1.5093.75 per box; cantaloupes, $2.30 7 r. nor pmi.- watermelons. 1 f4i'lc per pound; peaches, $1.7o&2 per box; ca- sabas, -li'3V4c per 10.; grapes, uigi :4 nil nor T--j t& Rfn:lTir npr naund. ;i5c Der basket; pears,' $23 per box; huckleber ries. ITwc per pouna; cranuernes, ii per box. VEGETABLES Cabbage. 22V4o per nnnnri ' l.ttna X(Hl!5ll nr finite. CUCUm bers, 60 75c per dozen; carrots, $2.20 2.3-0 per sacK; garlic, dvc; tomatoes, oucxp li r,i- hnY? ht t'2 50 tier sack: tur nips, $3 per sack; eggplant, 912ttc per pound; green corn, 2540c per dozen. POTATOES Oregon, $2.25 & 2.50 per 100 pounds; Yakima, $2.30; sweet potatoes, dttfiOc per pound. ONION'S Oregon yellow. $202.25 per ftack: California brown. S2cQ2.25 per Sack: pickling. SgplOc per pound. Staple Groceries. Local Jobbing quotations: SUGAR Sack basis. Cane, rraunlated, 13c per pound; beet sugar, 12.&0C per pound. HONT3T New, $7.50?S per case. NUTS Walnuts, 22038c: Brazil nuts, 35c; filberts, 3035c; almonds. 85c; pea nuts, 14 & 15 't'sc: cocoanuts, $1.75 per dozen. RICK Blue Rose. 11 Vic per pound. BEANS Small white, 67c; large white, 6c; pink, 7Vsc; lima, 10V&C pr pound; bayous, 11c. COFFEE Roasted, in drums, 25640' per pouud. Provislons. Local Jobbing quotations: HAMS All sizes, 4.1(g) 46c: skinned, 42 4Sc; picnics, 27c; cottage roll, 33c LARD Tierce basis, 7Vic; shortening. 20Vic per pound. DRY SALT Short, clear backs, 2630o per pound; plates, 22c. BACON Fancy. 4ti&56c; standard. ZZ 44c per pound. Wool, Cascara, Ktc MORaIR Long Staple. 25c per pound; short staple. 15c per pound. TALLOW No. 1, 80 per pound; No. 2, 6c per pound. CASCARA BARK Per pound, gross weights, old peel, Vic; new peel, 8Vc per pound. WOOL All grades nominal. HOPS Oregon, 120 crop. 33c per pound. Oils. LINSEED OIL Raw, barrels, $1.34; drums, $1.41; cases. $1.49. Boiled, barrels, $1.30; drums, $1.43; cases, $1.61. TURPENTINE Tanks, $1.81; cases, $1.6. FUEL OIL Bulk. $2 10 per bnrrel. COAL Oil. Tank wagons and Iron bar rels. 17 Vic; cases, 30 37c. FUEL OIL Bulk, $2.35 per barrel. GASOLINE Tank wagons and Iron bar rels, 23c, cases, 41 Vic Hides and Pelts. All prices nominal, owing to unsettled condition of eastern markets. Naval Stores. SAVANNAH, Ga., Oct. 6. Turpentine firm; regulars. $1.28; sales, 208; reeclpts, 323; shipments, 179; stock, 16,611. Rosin Firm: receipts, 160S; shipments, 1375; stock, 63,424. Sales, 797. Quote: B. D. E, F, G, H, K, M, N, WG. WW. $11.32V4. Metal Market. NEW YORK, Oct 6. Corper, nominal. Electrolytic, spot, and fourth quarter, 17Vi&lSVic. Lead and zinc unchanged. Coffee Futures Sell Tower. NEW YORK, Oct. 6. Still lower price levels were reached In the market for cof fee futures here today, owing to evidences of continued pressure of Brazilian offer ings and liquidation of Wall street long accounts. The opening was 8 to 13 points lower and there was some scattered trade selling which local brokers connected with the easier showing of the Brazilian cables. December sold off to 7.30c and May to 8.02c. with active months generally show ing net losses of 16 to 19 points. October. 6.97c; December. 7.37c; January, 7.54c; March, 7.88c; -May. 8.08c; July, 8.27c; Sep tember, 8.40c. Spot coffee dull; Rio 7s, 7Vic; Santos 4s, 1212Vic. Eastern Dairy Produce. CHICAGO. Oct 6. Butter higher; creamery, 44 60c. Eggs, unsettled. Receipts, 8218 cases; firsts, 57 58c. NEW YORK. Oct. 6. Butter steady; creamery, 50 64 Vic. Eggs strong; fresh gathered extra firsts, 66(g6Sc; firsts, 62 65c. Balances. $2.34.or.2 1,243.44! 130.773 830.202 PORTLAND MARKET QOCTATIONS drain. Flour, Feed, Ktc, Merchant' Exchange, noon KeKsion. Oct. Nov. Bid. Bid. Bid Wheat Oct. Nov. JTard white $2.10 $2 10 Soft white 2.00 2 00 White club 2.O0 2.O0 Har'l winter 1.08 1.98 Northern spring ,. 1.98 1.98 Rfd Walla 1.93 1.95 Oats No. 2 whits 43.50 43.50 No. 2 gray 40.00 40.00 Barley Brewing , 44.00 44 00 Feed 43.00 43.00 Corn No. 3 H. yellow, ship 4.1.00 44.00 li"run 48.00 43.23 Corn Ko. 3 yellow, delivery 45.00 44.00 FLOUA Family patents, $12.20; biker's Service to Clients This office has a reputation for delivering to its clients service that satisfies. JOHN SCHIBEL Insurance Broker and Adviser. Wilcox Bldg. Main 8020 INSURANCE WE WRITE ALL LINES C. De Young & Co. Main 7351 810 Spalding Bldg. $75,000 GRAND TRUNK RAILWAY OF CANADA 20-year, 7 Sinking; Fund Gold Bonds Dated October 1st, 1920 Due October 1st, 1940 Interest April and October 1st. Principal and interest payable in Gold in New York. These Bonds callable as a whole after 1935 at 102 Principal, interest and sinking fund are guar anteed by endorsement of the Dominion of Canada. Sinking Fund of $500,000 per annum available semi-annually beginning April 1st, 1921, provided bonds can be purchased at or below par. These bonds are a direct obligation of the Grand Trunk Railway of Canada, which Dominion of Canada has agreed to purchase and merge with Canadian National Railway System. PRICE 100 YIELDING 7 'LYTH, Witter.1 & Co. UNTIED SEMES GOVERtfMEtfT MUNICIPAL AHP CORPCSVtflCW BONDS " YEON BUILDING.' PORTLAND, OREGON Telephone Main 8183 San Francisco . Seattle New York Los Angeles TO Net 7V BRmSHOLlBIBIA 4VU 6 Gold Bonds Dated October 1, 1920. . Due October L 1925. Principal and semi-annual interest payable in New York City in United States Gold Coin. Provincial interims ready for delivery. PRICE 93.84 TO NET 7.50 (arstens & paries, Jncorporated Government, Municipal and Corporation Bonds Third Floor U. S. Bank Bldg. Broadway 4108 I Capital Stock $1 ,000,000.00 All Common Divided Into 10,000 Shares of $100.00 Each THE PORTLAND VEGETABLE OIL CO. is incorporated under the laws of the State of Oregon for the purpose of continuing a Portland industry of 10 years' standing. It is therefore not a new enterprise. Under date of August 4, 1920, the State of Oregon, Corporation Department (Blue Sky Law), approved its plans and granted a permit for it to transact business, and to sell its common stock. STOCK OFFERING It is the usual practice with large organizations to offer to the public a 1 or 8 Preferred Stock and to keep for the organizers and management the Common Stock, which in the case of successful enterprises often pays dividends greatly in. excess of Preferred Stock. This is particu larly true of the vegetable oil industry where a number of the companies in the United States have paid dividends ranging from 24 per annum to 100 per annum on Common, Stock. The stock now offered by the Portland Vegetable Oil Mills Co. is exclusively Common Stock. All purchasers will receive the same treatment and will be admitted on the same terms as to price of purchase and dividends resulting therefrom. There is no discrimination. Substantial and prominent bankers and business men of Portland have sub- " T scribed in excess of $500,000.00 of the $1,000,000.00 capital stock authorized. . . An offering: of $200,000.00 of this stock is now made for general subscription. Payments for this stock are to be made at par, without discount, when and as called by the Directors, in installments over the period of plant construction. Subscriptions may be received at, and checks for 10 of amount subscribed, payable to the Portland Vegetable Oil Mills Co. may be mailed to, Portland Vegetable Oil Mills Co., 808 Wilcox Building, Portland, Oregon, or to Ladd & Tilton Bank or to United States National Bank, Port land, Oregon. The company reserves the right to accept subscriptions in whole or in part and to withdraw; this offering without notice. INVESTMENT OF PROCEEDS OF CAPITAL STOCK ISSUE The corporation has for its purpose the manufacture and refining of cocoanut and other vegetable oils. A suitable plant site is under consideration having rail and deep-water frontage. Signed bids covering the ma chinery required have been received from reliable manufacturers of machinery. The proceeds from Capital Stock issued will be used to construct, equip and operate a thoroughly modern plant and to provide sufficient working capital. The approximate cost of mill and refinery with capacity to crush 100 tons daily, as estimated by reliable ar chitects familiar with the requirements of the business is as follows: Real Estate, $40,000.00; Buildings, $150, 000.00; Oil Mill Machinery, $175,000.00; other equipment, $65,000.00; Incidentals, $20,000.00. Total cost of plant, $450,000.00. HISTORY OF THIS INDUSTRY IN PORTLAND In 1910 Mr. Charles A. Painton organized the Cocoanut Products Company, capital stock $100,000.00. In 1913 this company was reorganized as the Kaola Company, capital stock $400,000.00. In July, 1919, the Kaola Company was absorbed by the Palmolive Company of Milwaukee, Wisconsin, as their Pacific Coast plant and Mr. Painton was retained as general manager. In December, 1919, the new mill of the company was destroyed by fire, following which the Palmolive company announced its intention to build elsewhere in order to consolidate its entire Pacific Coast interests. The above named companies have been engaged in Portland for a period of ten years in the vegetable oil industry, pressing copra and refining cocoanut oil. The business has grown rapidly and the profits of late have been large. In 1918 and 1919 the imports of copra for account of this industry were over fifty per cent of the, value of all imports entering the Columbia River. This business must not be lost to Portland. This company will fur nish more imports in value and tonnage than any other industry now existing in this whole territory. It is felt by Portland interests that this business which was built up by Portland capital and on Portland management should be continued as a Portland enterprise and for this purpose the Portland Vegetable Oil Mills Co. has been organized, and the services of Mr. Painton have been secured. MANAGEMENT ) The management of the company will be in experienced hands. Mr. Painton is the President and General Manager of the company. His broad knowledge, extended experience and successful past assure the company a successful future under his management. Connected with Mr. Painton in the management of the company will be expert assistants who have had several years' experience in the business. THE BOARD OF DIRECTORS AND OFFICERS ARE AS FOLLOWS: DIRECTORS : C. A. Painton. President Porfland Vegetable Oil Mills Co. w B. C. Ball. President Willamette Iron & Steel Works. S. L. Kddy, Vice-President Ladd & Tilton Bank. C. A. Edwards, Vice-President A- O. Anderson & Co. St. S. Hirsch, President Hlrech-Weis Mfg. Co. H. H. Ward, Vice-President Aero Alarm Co. F. W. Watson. M. E-, formerly Production Mgr. Columbia River Ship Bldg;. Corp. OFFICERS C. A. Painton, President. B. C Ball, Vice-President. i, ("Ladd and Tilton Bank. .United Slates National Bank. Prescott Cooklnsham. Secretary. C. A. Edwards, Treasurer. Attorneys Griffith. I,e!ter A Allen. Auditors Whitfield Whitcomb & Co, C. P. A. PROSPECTIVE PROFITS A Prospectus issued by the Palmolive Company under date of Feb. 10, 1920, for the sale of its Preferred Stock shows net profits for 1919 of $844,695.03. Based upon the actual results of its Portland plant in pressing copra, it can be estimated ' ' that the proposed mill having a capacity of 100 tons copra per day and operating 25 days per month for 10 months, making a total of 25,000 tons copra pressed, will earn a net profit of $420,595.00, which is nearly 100 of the cost of the plant or 42 of 'the company's authorized capital stock. j From the foregoing it can be reasonably expected that substantial dividends will be paid upon the ' stock now offered. GENERAL All the statements herein contained are taken from reliable sources, and, while not guaranteed, we feel sure of their accuracy. A full descriptive prospectus with subscription blanks will be mailed on application to the company. Inter ested investors are urged to act promptly, as this offering is limited. Clip This Out and Mail to PORTLAND VEGETABLE OIL MILLS CO., SOS Wilcox Bnlldlns;. Portland. Oregon. Please mail copy of your announcement of stock offering ind application blank to Portland Vegetable Oil Mills Co. SOS Wilcox Building,' Portland, Or.