THE 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