Morning Oregonian. (Portland, Or.) 1861-1937, January 11, 1921, Image 21

Historic Oregon Newspapers

Morning Oregonian., January 11, 1921, Page 21, Image 21

Image provided by: University of Oregon Libraries; Eugene, OR

About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 11, 1921)

Prev Page of 22 Next Prev Issue Next Text PDF JP2 (4.2 MB) Clip/Print Image

Return to Top

Prev Page of 22 Next Prev Issue Next

Newspaper Page TextTHE 3IORXIXG OREGOXIAX, TUESDAY, JANUARY 11. 1921 21 CALF SKIN PRICES TO First Actual Improvement in Hide Market. EASTERN QUOTATIONS UP Jan. Ja.n. Jan. Jan. Jan. 1 20 . . . 1919... 1918. .. J917. .. . . 70.1TO.000 . . 123.TOO.000 . . S.5U0,000 . . W.97. 000 4 402,000 3.PS9.000 1ST 000 a.s'-s.ooo 72.000 Increase The corn visible la 6.649.000 bue-l or increase of 1,240.000 buahela; oata. 32.377. 000 bushel, increase of 163.000 bushels: rye, 4,407,000 bushels, increase of 171.000 bushels: barley. 4.187.000 bushels, increwe of 327.000 busheU Bank Clearing-. Bank clearings of the Northwestern cities were as follows: Clearinrs, Balances Portland $1.248, 190 Seattle, 6,113,820 1.W3.U55 Tacoma 53V.528 luO,&42 dpokana 2,157,738 777.050 PORTLAND market QUOTATIONS Grain, Flour, Feed, Etc Merchants' Exchange, noon session. Cains of Two to Three Cents In Cities In Chicago Trade; Hides Are Expected to Follow. n.'de prices are bl!eve4 to be now at the turninr point. The first slfn of actual advance, has occurred In the calfskin - where prices In the east moved up 2 to 3 cents on city skins. At Chicago country skins are quoted at 11 cents and cities at 15.fi; 17 cents. Quotations In the lo?al market have not been chanced, but naturally there Is a better feaHnr In view v the eastern Improvement and an up ward tread Is expected to develop before Ion; that will at least carry prices up to the level that prevailed Just before the war. The uplift riven the esstern calfskin ftnarket is the fTfst evidence that upper leathers are beginning- to move. The sole leather trade is also picking; up, as Is ahuwn by the number of small sales re Aborted, it is said that tanners' stocks of leather are not large, except on the poorer trades Conditions In the packer hide market In the east are described in trade reports as folio we: Some further trading In Chicago packer kldes followed quite sizable sales to a large .New York state shoe manufacturing and, tanning concern, noted a week ago, and the sums buyer is understood to have ab sorbed 45,000 more September to Decem ber 1 salting at the same figure of 13c. In addition, another packer sold 10.000 special weight September-October light native cows for harness leather, and 10,000 r ncr, both at 13c. One packer who has had a representative abroad made a shipment to Europe of 50,000 light native cows and skips, with terms kept confidential. On the whole, the domestic packer market is corsidered better. While the packers ap parently are not trying to force prices up, but are inclined to meet tanners Ideas and keep stock moving, some lots are now changing hands most of ths time, and the large stocks which were held are dimin ishing with the light kllL The packers are entering the new year with no fur ther big accumulations expected, and prices. It is bellevd, will hold about un chjgd. WHEAT U1GUEH ON LOCAX BOARD Bids Are Advanced 2 to 4 Cents Brewing Barley Also I p. Local wheat prices moved up yesterday with the advance in the east. Bids on the local board were 3 cents higher on hard w and club and 2t4c higher on other grades, Offers for brewing barley were advanced Other coarse grains were un chanced. According to Chicago advices. "Eon.OiW bushels of wheat and 14 boatloads of corn Were worked to the Gulf. A London cable said: "From different sources late Sunday It was learned that i German order was In the market for ap proximately 4,000.000 bushels corn, await ing adjustment of credits before going through The British officii! report for January 1 states that the new wheat seeding Is germlr.ating well and that oats have pro gresaed favorably and are In good condl tloo. It Is reported the Italian government has reached an agreement with a number of Argentine and North American syndl eatfs fur a supply of wheat until the next crop Is harvested. Terminal receipts. In cars, were sorted by the Merchants' Exchange as follows: Wheat. Bar. Fir. Oats. Hay ForiTaiid. Monday. Yf ar ago- . - Wheat Hard whits I 1-63 Soft white l.aa White club LM Hard winter ........ January February Bid Ask Bid LONDON EXCHANGE RISES EXGLAXD PLAXS TO REFCXD AMERICAN OBLIGATIONS. 1.55 1.52 S4 00 32.50 34.00 3 00 1.58 i 1.58 I 1.55 1.55 1 86.50 35.00 34 50 32.50 34.50 33.00 33.50 Nor. sunns ilea ...... Oats No. 2 White reed So. 2 gray Barley Brewing ., .standard feed . . Millruu 33.50 36.00 cm No. 3. c. Y. shipment 34.00 36.00 34.00 KLOUR Family patent.. 19.80; bakers' $8.75; valley patents. 17.40; whole whea SsJO. graham. 18. MII.LFEED trice, f. a. b. mill. Mill run, 130 per ton; rolled barley. S44&46 rolled oata. $46; scratch feed, $60 per ton CORN Whole. $44; cracked, $47 per ton. HAT Buying prices, f. o. b. Portland Alfalfa, $20 per ton; cheat. $2223 c:over. $20; valley timothy. $27028; oil era Oregon timothy, $30. Dairy ana Country Produce. BUTTER Cubes, extras, 44045c per . ; prints, parchment wrapped, in box lot., 40c per lb.; cartons. 50c; half more butterfat, buying price, 39c per pound stations; A grade, 46c; B grade, 44c. Port land delivery. EGGS Buying prices, case count, 45c. Jobbing price to retailers, candled ranch, 52c; selects, 54c: pullets, 49c CHEESE Tillamook .triplets, price to Jobbers, f. o. b. Tillamook. 30c. POULTRY Hens. 25031c; springs. 256 30c; ducks, 2-(a40c; geese, 32c, turkeys, live, nominal; turkeys, dresaed, nomina.. PORK Fancy. 16He Per pound. Fancy, 18c per pound. T7 33 3 27 geaaol. !o date 9198 173 471 Year ago D259 147 2360 Ta.'uma. Saturday. 10 ... . Year ago 23 tVtuaon to date 30W7 46 563 Year ago 4047 64 ... fieiutle. Saturday. 14 ... 2 Year ago 20 ... 7 Season to data 3107 173 209 Year ago 3831 189 448 2. 1273 371 1038 56 130 2 3 S T 288 1023 477 837 DANIMI BITTER UNSETTLES MARKET to Large JPur Break In East Owing foreign Offerings. Tte first week of the new year was not encouraging to butter Interests In the east. While prices were maintained at least through Friday, the Chicago market broke Aeavi:v Thursday and Friday, and the S'-arkel generally was unsettled and dull. The reasons were due to slackening of trade, heavier receipts, milder weather and indications of a much heavier make. Top grad: butter has been In surplus, which la a ver unusual condition, caused by pref er nee of eastern buyer., for Danish butter, which could be bought much cheaper and an which a larger profit co,uld be obtained. The Plynderlerge cargo of 1300 casks of Dai.Ial. butter was quickly cleaned up and buyers, unable to obtain more, were turning to storage Danish and medium grade do- nu.-lt: fresh. The Frederick VIII la due a; New York January 22 with a cargo estimated at 13.V00 casks or better. New KcWend butter, also reported rolling east from San Francisco In large quantities, wrukened the Chl-.go market. British butter control will not be lifted until March SI. Practically the same conditions ruled a in the prevtoua week at San Francisco, with the downward tendency unchecked and every day showing lower prices. The 4-or.tinucd heavy receipts and increased production resulted in an accumulation of xrh butter and a general lack of confi dence There was a little larger volume of business transacted this week and ome freeh butter went east, but theae facta did not prevent a slump of 2 cents on 92-ACore. Approximately 230,001) pounds of New Zealand butter went into storage, wnich tended to depress the already un. ateady market. Storage goods met with very little demand, as did medium and undergradea, Latest available reports .how cold storage holdings In Portland. cattle. Los Angeles and San Franc. as 1.730.746 pounds as compared to 1.414,324 pcubaa last year. A mooth ago ther. was a reduction of 422.117 pounds. The mar aft closed weak and unsettled. 1 raits and Vegetable.. FRUIT Oranges. navels. $3.7584.75 lemons, $3.7504.75 box; grapefruit $38 per box; bananas, I-wijc per pound grapes, $3.25 lug; apples, $ltj3.5o per box pears. $2r2.po per box. VSOgTABLEB cabbage. 2c per round lettuce. $3 .251i3.7f iter crate; cucumbers. 2 per dosen; carrot.. 91.0001.75 per sack; garlic, 23c; beets, al.50 sack; eggplant 20c per pound; cauliflower $303.25 per crate; celery. 35 per crate; green peppers. 25c ii-:r pound; sprouts. 17 per pound squash, 2tyc per pound; pumpkins, 2VjC per pound: rhubarb. 20c per pound: spin ach, $1.4001.50 box; tomatoea, $405 per crate. POTATOES Oregon. $1.501. 75 per 10" pounds; Yakima, $202.25; aweet potatoes, ttuuc per pound, as per hamper. ONIONS Oregon, $1.50 per sack; Cali fornia brown. $1.5001.75 per sack. Staple Groceries. Local Jobbing quotations: SUGAR Sack basis: Cane granulated, 9c per pound; beet, 8.80c per hundred. NUTS Walnuts 22028c; Brazil ruts, 35c: Filberts. 21025c; almonds. 26430.-; peanuts, 9014c per pound; cocoanuts, $2 per dozen; pecans, 32035c; chestnuts. 25 1035c pound. RICE Blue Rose, Dvic per pound; Ja pan style, 7 toe per pound. BEANS Small white, Be; large white, 6c; pink, TH.I lima, 10c; bayous. '. - V red, 7 Vac per 'pound. COFFEE Roasted, bulk, drums, 14 036c per pound SALT Granulated, bales, $3.50 0 4.23; half ground, ton, 50a, .19.75; 100s, 18.25; lump rock. $26.50. Provisions. HAMS All sizes. 27 032c; skinned. 230 31c ; . picnics. 20c. BACON Fancy. 40047c; choice. 30 032c: standard, 25 0 27c. LARP Pure, tierces. 27c pound; com pound, tierces, 14c. DRT SALT Backs. 21 024c; plates, 20c. Hides. Pelta. Etc. HIDES Salt bides, all weights, 6c per pound; green hidea, all weights, 5c; salt bulla all weights. 5c; green bulls. 4c: calf skins, green or salt. 8c: kip aktns, green or salt, 7c: dry hides. 12c; dry salt hidea. 9c; dry calf. 15c. Above prices for coun try hides and skins. Prices for city skins and hides follow: Calf skins, 10c per pound; kip skins. 6c; city packer hides, green. 6c. PELTS Salt pelts, full wool, country. 35 0 50c: packera, 50060c each; dry long wool pelts, fine, 7c pound; dry long wool pelts, medium, 6c; dry long wool pelts. coarse, 4c. TALLOW No. 1, Be: No. 2. 4c pound CASCARA BARK 1920 peel, 8c pound WOOL AND MOHAIR Nominal. HOPS 1920 crop, choice. 24025c pound. Oils. LINSEED OIL Raw. In barrels. It 01 drums, ii.us: cases, ai.it. Boiled, in bar. reis. ai.uj; arums, u. 10: cases, 11.18. , TURPENTINE In tanks, 51.21 cases 1.36. COAL OIL Tank wagons and iron bar rels. 17Hc; cases. 30037c. FUEL OIL Bulk, $2.33 per barrel. GASOLINE Tank wagons and iron har- rela, 29c; cases 41;3c. Money, Silver, Etc. NEW YORK. Jan. 10. Prime tile paper. 7 Kit 8. Time loans steady, 60 days, 90 days and .ix months, 70 7y, per cent. Call money, steady; high. 7: low. 6: phi. ing rate. 7; closing bid, 6; offered at 7; last loan, 6. Bar silver- Domestic, 99U- foreign Mexican dollars, 50. Advance in Sterling Strengthens ew York Stock Market; Good Gains at Close. NEW YORK. Jan. 10 The successive stages of today's stock market were char acterized by a hesitant opening, general heaviness before noon, spectacular re coveries in several speculative issues dur ing the Intermediate period and Irregular strength at the active close. Attendant features included a vigorous advance In foreign exchange, notably Britiah: rfei-Ifn nf rail loans to 6 per cent. the lowest tn three weeks, and the De cember report of the United States Steel corporation, disclosing another severe de crease in unfilled tonnage. Strength of foreign remittances was based partly on reports that the British treasury contemplates a plan for refunding Its extensive obligations In this country. Relaxation of demand money, which failed to extend time funds, seemed to be little more than a belated recognition that the aupply of such accommodations is vastly in excess of requirements. The drop of about 373,000 tons In United States Steel tonnage Is the largest re ported in any month since the setback, which began last Auguat. and reduced the corporation's bookings to lh amallest total in more than a year. Oils, steels, equipments, motors and shippings, as typified by Mexican Petrol eum. Crucible. Baldwin, Pressed Steel Car. Studebaker and Atlantic Gulf, were para mount Issue. 'of the final hour. Early losses of 2 to 6 points gave way to gains of sub stantial proportlona In most Instances and full recoveries elsewhere. Sales 1.13o,00U shares. . j There was only a moderate market for bonds. Total sales, par value, aggre gated I13.S50.ooO. CLOSING STOCK QUOTATION. 17.200 3. BOO 3.200 8,400 7.300 7.100 2.800 8.200 4.100 4.500 1.200 1.000 1.800 High 47 27 126 Vi 5H 4714 85 Vt 39 Vj 81 99 70?, 9 38 "j 84 v. 68 V. 92 37 V4 60 Vi lSf 30 118 50 71 62 80 69 28 21 30 mercan- I.ONDON. Jan. 10. Bar silver. 40tid per ounce. Money. 5 per cent. Discount rates, short bills. 6V, 06 per cent: thr. months' bills 611-16 per cent. Sales Am Beet Sugar 00 American Can 4.30O Am Car Fdy 3,000 Am H & L PJd sou Am Intern Cor 19,600 American Loco 2,800 Am Smt Rtg 4,000 Am Sum Tob 1.400 Am Tel A Tel 1,500 Ameri Woolen 21,500 Am z L & S 4UO Anaconda Cop s.ow Atchison - I.-oO At Or m w in JM.ouo R.M.fn T.oro al.,00 Baltl & Ohio 9.200 Beth e Steel z But & Sup Cop Cal Petroleum Canadian paci Centrl Leather Chandler Mtr. Ches A Ohio Chi Mil St P Chlc'go 4 N W Chi R I & Pac Chino Copper.. Colo Fl n iron ,-nrn Pr.lltllTtS Crucible Steel 43.100 Ctih, Pan Sag 1.200 Erie o.ovu Generl Electric J.oOO Generl Motors 32.."00 Grt North Fta o.ou" minola Central -90 lnspira Copper Int Me Ma Ptd Interna Nickel Interna Paper Kan Cty South Kenne Copper Mex Petroleum v.yy Miami Copper uu Mid States un -o..-yy Midvale Steel 4.300 Missouri Paci '.bow New York t-en N Y N H & H z.oou Nor & Western SO0 Northern Pacif U.4W Ok Prd R(g !? Pac Tal ei Tel 160 Pan-Am Petrol 46.800 Pennsylvania.. 4.400 Pitts ft W a 5??,.:D CP 19.505 Rep Ir ft Sl JWJJ Royal D N t 16.000 h:it Al-tfl COP Shell Tr ft Td 1.1 JO Sin Oil ft Rtg, 3:"" Southern rati -'.yv Southern, Rwy O N J riix ..yrr Studebak Corp 29. oo Texas company 34.0OO Texas ft i-aciv o. Tobacco Pdts ,.400 Transcontl OH 34.000 Union Pacific e.v, U S Food Pdts 3.500 U S Ind Alchl 3.200 II S Rtl Stores U.OflO n s Rubber.. -1300 it s steel Pfd 6to U S Steel... 38.000 Utah Copper. . 2.000 West Electric. 9O0 Wiuv.-Overid 20.000 BONDS. U S Lib 3s. ..92.26 Atch get 2; :r:::S7:S6'N ? c i., 4tis... 87.82 N P do 2d 4iS. 2.S00 8.000 3.400 9,100 3.30O 3.900 200 97 23 11 123 16 78 SS 86 58 ,15 56 20 20 103 161 1S 15 . 32 ' 20 74 '21 101 86 3 40 77 ' 41 31 "4 13 83 68 70 6 45 23 10OH 23 V. 108 34 45 19 56 12 122 23 70 67 71 109 83 54 45 9 Low 44 27 124 48 42 83 87 73 9S 6--. 87 83 61 87 83 56V4 12 28 117 3S 68 59 29 68 tl 29 68 83 23 13 120 15 75 88 84 53 13 53 19 20 102 151 hi 18 Vi 13 31 19 72 20 99 82 -t 3 40 72 41 30 13 82 63 65 6 43 23 !.s 22S 107 494 43 li 53 10 120 24 68 54 63 109 82 33 45 8 4s Is con 4s 64 leb 6s.. 92 Last sa.e. 47 27 126 51 46 85 39 Vi 80 U 99 70 9 38 84 67 91 37 60 12 30 118 40 71 62 29 69 28. 21 30 71 96 23 14 122 16 77 SSVi 36 58 13 55 20 20 H 103 130 18T. 14 3- . 20 73 20 101 85 8 40 77 41 31 131, 84 6S 70 8Vi 13 25 'i 10" Vi 23 107 54 44 Vs 19 DVi 11 122 25 69 56 70 109 Vi 83 54 45 S 97 do 3d 4V.S. do 4th 4s. Victory 3s . do 4s U S 2s cpn . . A T ft T cv 6s ..87.001N P 3a .90.34 K.1C 1 v ..s... .S7.36Pa con 4s 90 .06.S;S P cv 5s 99 97.02 So Ry 5s 80 100 JU P 4s S3 96 U S Steel os 94 Offered. Mining Stocks at Boston. BOSTON. Jan. 10. Closing quotations: Allouez Ariz Com Cslu & Ariz. . Centennial ... Calu ft Hecla. Cop Range ... East Butte . . Franklin Isle Royal le . . Lake Copper . . North Butte . . 1 lOld Dom 20 8Osceola 27 48,Quincy 40 8 JSuperior 3 43 Sup ft Boston.. 1 32 Shannon 1 9 lUtab con . . 2 Wolverine . 21V4;Granby Con 2 ll! 4 11 22 Foreign Exchange. Foreign exchange rates at close or oust- Swift ft Co. Morka. Closing prices for Swift ft Co. stocks at Chicago were reported by- the Overbeck ft Cooke Co. of Portland as follows: If I ft CO Swift Intranational Litiby. McNeil & Llbby National Leather i "tt..n Market. NEW YORK. Jan. 10. quiet, middling. 18.25c. Spot ness yesterday, furnished by Nortnwestern National bank of Portland. The amount quoted Is the equivalent in unitea aiaies dollars: Country. Unit. Austria, kronen Belgium, francs Bulgaria, leva Czecho-Slovakia. kronen Denmark, kroner England, pound sterling Finland, finmark mac ' r ranee. ,' . 1 I Germany, marks I Greece, drachmas Holland, guilders Hungary kronen Italy, lire .103 29 Rate. . .0027 . .0653 . .0122 . .0122 . .1780 .8.7800 . .0328 . .0616 . .0147 . .0763 . .3302 . .0022 . .0363 tTVBE BITTER STOCKS NOT LARUE. Eggs Steady on I oral Market With Out aide Orders. Eggs were steady, owing to Che presence f shipping orders and the prospect of colder weather Resales were made by re ceivers on the street at 48 cents, case count. Delivery prices were unchanged. The butter market was also steady, in apite of the weakness south, aa the supply etf cubes was not heavy. Poultry and dreased meat arrivals were not heav y and ths prices of tbe close of last week were repeated. II,-. r. .e iii Wheat Visible. The American wheat viaible supply tatement compares as follows: Bushels Decrease Jan. 10, 1931 .1.163.000 i,ato.uoO We Offer Our Participation in $30,000,000 Northwestern Bell Telephone Co. (American Telephone & Telegraph Company) First Mortgage Seven Per Cent Twenty Year Bonds Price 96i2 Mortgage restrictions similar to Bell company of Penn sylvania, which bonds are now quoted at 102. Call, phone or wire "Robertson & Wwim INVESTMENT SECURITIES 207-8 NORTHWESTERN -BANK BLDG. Mapskaul.56ii WK 4) N AMI OFKKR SI BJKCT TO PRIOR SALE! $48,000 STATE OF OREGON ytr'c UK.NERAL OBLIGATION ROAD IK i. Mis Dated January 1, 1920 Maturities. Yield. Maturities. Yield. ,,nl I, IU2a-2 van April 1,10,11-33 5r- April 1. 1929-JO M April 1, 1933-45 ,-,.10 Carstens & Earles, Incorporated Katatallakrd Gtrverament. Muaic.iml and Corporation Honda, L. S. N&tlonal Bank Bldis. Sn I ra-nelACO Portland, Orejcon. Seattle 1.0a Anfceiea Kdn t, 4 1 OS. Spokane Bond Deaprtment 11,500 Acres of Which 7500 Acres Are Irrigated. Val. (Est.) Over $2,500,000 INCOME TAX EXEMPT Principal and Interest Paid by Taxes Columbia Municipal Irrigation Dist. 6 Gold Bonds Den. $500-$100. Due Ser. (Est.) 1931-39 Price 100 Yield 62 RAINIER, OR., DRAINAGE DIST. 6 Gold Bonds Due Serially 1925-40 Price 100 . . M Yield 072 Income Tax Exempt WHEELER TIMBER COMPANY 5-year 7 Gold Notes Price 100 Yield -7? LUMBEHMEN5 tkpst emmm Broadway and Oak Jugo-SIavla, kronen ... Norway, kroner Portugal, escudos Houmanla, lei Serbia, dlnara Spain, pesetas Sweden., kroner Switzerland, francs .... China Hongkong, local Shanghai, taels Japan, yen .0073 .1740 .1005 .0142 .028.1 .137B .2111. .UTS .5800 .7800 .1900 NEW YORK. Jan. 10. Exchange. 5trong; sterling, demand, .3.72H, cables. .3.731; francs, demand, 6.03; cables. 0.03: Belgian francs, demand, 0.34: cables, 0.30; guilders, demand, S2.0O; cables. 32.60; lire, demand, 3.49; cables. 3.1; marks, demand. 1.40; cables, 1.41; Greece, de mand, 7.45; Montreal, 13s per cent discount. Foreign Bonds. Following foreign bond quotations are furnished by the Overbeck & Cooke Co. of Portland : Bid. Ask. r.usslan rV.s, 1921 lm, 12 Russian SHs, 1926 Sfe 7H Russian 6. 1919 12 13V4 Currency 40 45 French 5s, 1931 48 50 French 4s. 1917 39 41 French 5s. 1920 56 58- Brltish "is, 1922 335 367 -British 5s. 1927 342 t3S British 5s. 1928 335 345 British vky 4s 261 275 British ref 4s 244 2.13 Belgium rest 3s 66 iShi Belgium prejn 5s 59 hi 62 4 German W L 5s lQhi 22 Berlin 4s 12i 13 Hamburg 4s 1214 14 Hamburg 4-..- 13 14 Lelpslg l -,s 13 14V4 Lelpslg 5s 13 13 Munich 4s 13 14V Munich 5s 14 17 Frankfort 4s ...14 16 Jap 4s i 58 59 Jap 1st 4Hs T5 76H Jap 2nd i .- 76 70, Paris 6s 94, 95 V, U K 5!s, 1921 97 98 U K fitjS, 1922 94 Vi 951, U K 5,s. 1929 88Va 88 U K 5M,s, 1937... 86 86Vi Phone your want ads to yh Ore--ronian. Main 7070, Automatic 560-95. Two Billions of Business! Sales of over Two Billions of Dollars are now insured by The American Credit-Indemnity Co. for Manufacturers and Jobbers. More than half of this business is with millionaire houses. There is significance in the fact that Credit Insurance as issued by the American Com pany has not only reached such large pro portions, but is being increasingly used by merchants of marked ability. With such men, it is not a question of how much they can "afford" to lose, but how much they can save through prudent mea sures such as are afforded by the American's Unlimited Policy. It will pay manufacturers and wholesalers, whatever the size of their business, who are not yet our clients to get the entire story of this broad, protective service of The Amer ican Company. No obligation. Write or phone. N Payments U Policy holders about $10,000,000.00 AMERICAN CREDIT-INDEMNITY. CO. Of NEW YORK . E M. TREAT, president ISSUES STANDARD UNLIMITED POLICIES H. T. MacRILL, GENERAL AGENT Board of Trade Bldg. Phone Main 1179. Portland, Oregon. Guaranty Trust Company of New York NEW YORK LONDON PARIS BRUSSELS LIVERPOOL HAVRE CONSTANTINOPLE Condensed Statement, December 31,1 920 RESOURCES Cash on Hand, in Federal Reserve Bank and Due from Banks and Bankers $217,780,215.72 U. S. Government Bonds and Certificates 36,909,72837 Public Securities 44,227,524.52 Other Securities 3 7,2 75,6 70.6 1 Loans and Bills Purchased 501 ,582,486.50 Real Estate Bonds and Mortgages 2,804,110.00 Foreign Exchange 5,244,047.77 Credits Granted on Acceptances 57,901,984.08 Real Estate 8,435,705.67 Accrued Interest and Accounts Receivable 1 1 ,50 1 ,864.88 $923,663,338.12 LIABILITIES Capital $25,000,000.00 Surplus Fund 25,000,000.00 Undivided Profits 12,075,07237 $62,075,07237 Outstanding Dividend Checks 966,400.50 Accrued Interest Payable and Reserves for Taxes and Expenses, and Other Liabilities 20,379,570.92 Notes, Bills, and Acceptances Rediscounted with Federal Reserve Bank 74,328,844.23 Notes Secured by Liberty Bonds Rediscounted with Federal Reserve Bank 19,435,800.00 Acceptances New York Office 44,867,543.08 Foreign Offices 13,034,441.00 Outstanding Treasurer's Checks 51,221,978.47 Deposits 637,353,687.55 $923,663,338.12 UNDIVIDED PROFITS ACCOUNT CREDITS Credit Balance January 1, 1920 $6,239,889.57 Miscellaneous Credits During Year 155,624.66 Profits for Year, after deducting all expenses and taxes, including high cost of living allowance to employees, the charge-offs in connection with Real Estate and bad and doubtful debts, both domestic and foreign 12,355,950.50 Total Credits 18,751,464.73 DEDUCTIONS Dividends Paid During Year at Rate of 20 per annum $5,000,000.00 Appropriated for distribution to officers and employees on Ad ditional Compensation Plan. . . 1,676,392.36 6,676,392.36 Credit Balance December 31, 1920 $12,075,07237 The Board of Directors of a going Oregon Corporation has decided to syndicate a block of stock, the returns on which will be used to increase the production of their factory. There will be no commissions paid on the sale of this stock. Every dollar will go to the expansion. Money paid in will be put in trust until full syndicate is completed. Are you willing to come in on this syndi cate and insure the greater success of an Oregon industry? A full investigation of the books and the Company may be had upon application. Subscriptions received $250.00 and up. Address BC 289, Oregonian. 'Your PersonaVBank' Safe Bonds to YieldS to MANY who have made large profits from business or spec ulation are discovering that these profits are only imaginary or paper profits until converted into cash or safe investments. Safe bonds can still be bought at prices which yield remarkably high rates of interest. Bonds of public service and industrial corporations, with long records of successful operation, can be secured to yield from 7 to 8 per cent, and munici pal bonds exempt from Federal Income Taxes to net from 5 to 6 per cent. We shall be pleased to submit a list of bonds purchased with our own funds after thorough investigation which we recommend for safe in vestment. Ask for Circular No. 750-B BOND DEPARTMENT Harris Trust & Savings Bank Organized as N. W. Harris & Co. 1882. Incorporated 1907 HARRIS TRUST BUILDING, CHICAGO Harris, Forbes & Co. New York Harris, Forbes & Co Inc. Boston i