TIIE 3I0RXIXG OREGOXIAX, TUESDAY, FEBRUARY 1, lf21
21
SYNDICATE MAY I
, WORLD DDL IDE
Plan for Reducing Enormous
British Surplus.
MILLS TO BE OPERATED
Financial Scheme as Proposed
H'oeld Be of BcnoHt to Pro
ducers In All Countries.
A new scheme has been proposed In
England to remedy the present state of
stagnation In the wool trade. If It la
adopted and succeeds. It will take oft the
world's marks a large part of the enor
mous surplus which is a weight on wool
prices In all countries. The basis of the
scheme Is that the community would pro
Tide credit for the trade and the trade
would guarantee employment. For this
purpose It is suggested that a syndicate
should be formed to buy the whole of the
British government's surplus wool stock,
the government and the Australian wool
growers being paid, not In cash, but in
shares of the syndicate, which would con
sist of the government, banks, manufac
turers and merchants. The scheme Is an
alternative to the one for disposal to
company registered in Australia which is
at present under consideration. The scheme
is outlined by the London Times as fol
lows:
The British government and Australian
wool growers to sell their wool stocks
a syndicate with a capital of 50.000.000,
taking payment in "certificates" or shares
to the extent of 15.000,000 to the govern
mem ana 115.000,000 to the growers,
leaving a reserve of 20.000.000. (Against
officially suggested value of wool of 50,
000.000.)
Interested Joint stork banks to form
a "Woolen Trade Credit" bank or com
mtttee. to which will be hypothecated th
syndicated wool as a basis for credit fa
cllilies for the trade.
Utilising the credit created for the wool
bank, the syndicate takes over from the
trade all stocks of raw material, finished
goods and goods in procress, paying cash
at an agreed valuation and so freeing the
working capital of the trade.
This working capital, to an agreed ex
tent, to be Invested in the syndicate.
Any funds so accruing to the syndicate
would go to reduce the loans from the
wool bank.
The first charge on the wool bank would
be the repayment of existing working over
drafts at joint stock banks.
The syndicate would then allocate suf.
flclent raw material to the trade to enable
a moderate working week of, say. 40 hours
to be worked. This raw material would
remain the property of the syndicate dur
ing process of manufacture into the fin
lshed article.
Tne syndicate would create a market
for these finished goods by encourage
ment ot ordinary trade channels, the Btlm
ulatioa of continental markets and the
creation of a permanently increased ee.
jnand by Intensive production at decreased
cost Wool growers. It Is urged, should
realize that there actually Is a "world
value" for raw wool; and that. In the
end, they can obtain no more and no less
For existing stocks and the 19M clip It
win prooaoiy D little. U.-anythlng. more
than the coet of production. Kor the
Australian growers the one essential is to
get rid of a surplus stock of raw wool.
This scheme. It Is claimed. Insures this
end being arrived at In a minimum of
time.
lower grades moved somewhat better. No
change in print prices la anticipated for
several days at least.
The poultry market was easy, particu
larly on heavy hens, and buyers would
not offer over 27 or 28 cents for these.
Dressed meats were steady, pork selling
at 18 cents and veal at 18hb cents.
STOCKS UNSETTLED BT RISE
IS CALL DOAX RATES.
Decline In Wheat Visible.
The American risible wheat supply state
ment compares as follows:
Buffhel. Decrease.
January 31. 1!?1 tt.2Vl.000 1.6H0.O00
February 2. lirJO Ml.."., WOO 2.8JK.OO0
February 3, 119 13ft.B13.000 l,42.nnO
February . 19IS 13. 869.000 1.2..8.000
February 4. 1017 4S.721.000 93S.OO0
February 7, 1918.... 67.118,000 1.840,000
Increase.
The corn visible Is 14.207.000 bushels.
sn increase of 4,609.000 bushels; oats. 33.
632.000 bushels, an Increase of 755, 0O0
bushels; rye, 2.0.S1.000 buaheljt. a decrease
of 327,000 bushels; barley. 2.728.000 bush
els, a decrease of 77.000 busheli
Bank Clearings.
Bank clearincs of the Northwestern cities
yesterday were as follows
Clearinps. Balance
Portland ."T. . . J4.R40.240 f l.ino.S.'Wt
Seattle 3,..s.3r.s 1,181.874
Tacuma 419..199 79.642
Spokane 1.443.031 567,013
Portland bank clearings for January of
this and former years:
January. 1921
January. 1920 144.S:t9,115
January. 1919 118.mi.941
January, 1918 80.417.178
January. 1917 dl.y75.18H
January, 1916 43.261.038
January. 1913 44.lill3.844
January. 1914 48.901. 899
January, 1913 49.271.242
January. 1912 4.1,841.289
January, 1911 41.34J.302
January. 1910 38.1155.570
January. 19tW 25.709,298
Germany, marks .0171
Greece, drachmas .0758
Holland, guilders 3415
Hungary, kronen 0025
Italy, lire .0375
JuRo-Slavla. kronen 0078
iorway. Kroner .iy
Portugal, eecudos 1160
Roumanla. lei 0149
Serbia, dinara 0305
pain. pesetas .141&
Sweden, kroner .- .20
Switzerland, francs - 1620
Xew Domestic and Foreign. Bond I China Hongkong, local currency.. .5075
Issues Oversubscribed: Liber- JPn. yen 4925
ties Are Moderately .Lower. NEW YORK, Jan. 81. Exchange, heavy.
Sterling, demand $3.84 4i, cables f 3. .;
francs, demand '7.06, cables 7. OS; Belgian
viw TAor t, ii tnlr tradlne I francs, demand 7.42, cames m; guua
was again dull and uncertain. Interrup- ers, demand 33.85. cables 33.95: lire, ae-
tion to wire service by storm contributed mana a.m. caoies s.tu; minis, nemanu
to thpAe cnnrittinnn 1 1.56. cables 1.57: Oreeee, demand l..v., Ar
Advices from principal railway terminals I genttne-. demand 30.B2; Brazilian, aemana
Indicated a slight gain In the movement i io.zo; Montreal, to1 per cent ntecouui.
of tonnage and the middle west reported
better demand for bonds, coupled witn I Forelra Bonds.
Following foreign; bond rfiotatlons are
Further cuts were announced in crude furnished by the Overbeck & Cooke com
and refined oils, however, and the trend I p"
Bond Department
a.viueno. on rurrpncy
measure 01 i t.- ., .1,
P.usslan KHs, 1921..
Russian 5.a 3926. .
Russian 6V,s. 1919 15
in
58
1931 .
of general industrial conditions was
marked by many additional wage reduc
tions and similar retrenchment teatures.
Declaration of the regular dividend on
Studebaker common infused
strength to motors and their subsidiaries.
This was accelerated by news that several
large Detroit motor companies had
.1122.493.009 sumed operations on a 50 per cent basis.
oils, notably uenerai Asnnait. associ- Hrttinh :. i-
ated, Mexican Petroleum and Houston, sev- British 5. 1929...
Bid.
13V4
1:
French 4s. 1917..
French Ks. 1920..
Italian 5s, 1918..
British r. 1922
.... 48
. ... 68
.... 27
....SSI
371
.364
PORTLAND MARKET QUOTATIONS.
Grain, Flour, Feed, Etc
Merchants' Exchange, noon session:
eral of the food and rubber specialties and
coppers, as represented chiefly by Ameri
can Smelting, made .up most of the ses
sion's professional operations. Late prtces
tended upward, Smelting leading, but
gains were largely forfeited on the rise
of call money to 8 per cent, the market
closing with an easier tone. Sales were
500.000 shares.
The 8 per cent demand rate strengthened
suggestions of tighter local money In Feb
ruary.
Remittances to London. Paris and Brus-
sets reacted, likewise the German quota
tion, and Shanghai rates broke 5 cent
Wheat-
HAKE OF BETTER IS INCREASING
Eastern Supplies Clean Vp Well Except
Imported Stock.
Eastern butter trade revived to some ex
tent and gradual improvement was noted
the forepart of last week. However, con
fidence was lacking and New York turned
. weak and lower and other markets are
likely to follow. Considerable butter was
moved and, except for Danish, all markets
are well cleared. The movement of under
grade Argentine butter to Canada last
week and refusal of dealers to sacrific
prices on Danish helped the New York
market Boston is strong on storage with
most good quality cleaned up and buyers
there hope to continue to use storage, but
low prices on fresh are tempting them
considerably. Some New Zealand is still
offered at New York at 47-48 cents and
California arrival are helping to swell re
ceipts, but- not finding a good market.
The make of butter over the country con
tinues to show an Increase, but receipts
at the four large eastern market are not
tnucb heavier. There is some interest In
the tariff bill pending, raising the tariff
from 2!i to 8 centa per pound, but pas
sage is said to be unlikely.
With the exception of Wednesday, the
San Francisco market ruled steady with
no fluctuation in prices. The on weak
spot Wednesday resulted from some pres
sure to sell and there was a drop of c
on all grades. Most of the surplus receipts
are being shipped to outside markets, and
dealers' stocks were well cleaned up at
the end of the week.
Dealera appear anxious to keep floors
cleaned up and are moving goods at small
margins. The San Francisco market Is
sufficiently low to encourage a steady
shipping business, although there is very
little speculative buying. The uncertain
factor at present la the arrival of Danish
butter In New York, which has caused
some uneasiness. Cold storage Is moving
very slowly.
LOCAL WHEAT MARKET IS LIFELESS
Bids Are Reduced 5 to 7 Cents on Prin
cipal Grades.
The wheat market yesterday was weak,
lower and lifeless. At the Merchants' Ex
change February and March bids on hard
winter, club and soft white, the only
grades quoted, were 5 to T cents lower
than on Saturday.
Coarse grains were also dull except for
some demand for eastern yellow corn,
whbch resulted in an advance of SI in
bids.
Bueno Aires cables reported the weather
fine and the Argentine wheat market
weak on lack of support. Argentina of
fered wheat c 1 f Antwerp at 12.05, which
la under the American price.
Terminal receipts. In cars, were reported
by the Merchants' Exchange as follows:
Wheat.Barley.Flour.Oats.Hay.
Bld-
Feb. March.
11.50 I 1.50
1.30 l.oo
on another decline of bar silver In the I Pari Fixes
Britlrt vky 4s 288
British ref 4s 261
Relplum rest 5s 65
Belgium nrem 5s 71
Terman W. U 5s.... 13
Berlin 4s 15
Hamburg 4 ................. 16
Hamburg 416s 16
t.elpsig 4 We 3 5
Munich 4s 15
Munich 5s 17
Frankfort 4s 16
Jap 4s 62
lap 1st 4Hs SI 4
Jap 2d 4s SH4
Hard white
Soft white ..............
White club 1.50 1.50
Oats
No. 2 white feed. 33.50 33.50
Barley .
Millrun 82.50 82.00
Corn
Xo. 3 E. Y. shipment 30.00 30.00
FLOUR Family patents. f.80: bakers'
hard wlieat. su.ot; bakers bluestem pat
ents. $9: valley patents, S7.90; whole
wheat. 8 20: graham. SS.05.
JJilXe'EKD Prices t. o. b. mill. Mill
run, $35 per ton; rolled barley. S43(45;
rolled oats, 44; scratch leea, sou per ton.
CORN Whole, (42; cracked, 4o per
ton.
HAY Buying prices, f. o. b. Portland;
Alfalfa. fl9 per ton: cheat. $22023:
clover, I2U; valley tlmotny, S2u2tt: east
ern Oregon timothy, xu.
IT. K. KW,s, 1921
K. HdS. 1922.
London market.
serptlve capacity, several new domestic I Jy- J- 5!;'' J nil?""
Liberty bonds, however, were moderately
lower. Sales, par value, $12,650,000. Old
United States 4a registered rose half per
cent on call.
96 U
99
88
S614
Ask.
15
15
17
52
60
50
70
28
390
383
376
300
273
68
74
14H
10V4
18
17
17
IS
17
19
18
62 H
83
82
96 H
99 i
99
88
87
CLOSING STOCK QUOTATIONS.
Sales.
3ii0
7,200
OHO
S.1O0
l.soo
iUO
High.
45
32
123.
49
47
83
43
SI3-T4
81 '4
Dairy and Country Produce.
BUTTER Cubes, extras, 3940c pound
prints. parchment wrapped. in box
lots, 45c per lb.; cartons, 4tc; butterfat.
buying price, 36-03HC pound at stations
A grade, 43c: B grade, 41c; Portland de
livery.
EGGS Buying prices, ease count. 38c
delivered Monday; 35c, Tuesday; Jobbing
price to retailers, candled ranch, 44Q4jc
selects, 47c.
CHEESE Tillamook triplets, price to
Jobbers, f. o. b. TUlamcok, 30c
POULTRY Hens, 242Bc; springs, za
30c; ducks, 30!U40c; geese, nominal; tur
keys, live, nominal: do dressed, nominal.
PORK Fancy, luc per pound.
YEAt, Fancy, 18c per pound.
Fruits and Vegetables.
FRUIT Oranges, navels. $3.25 5: lem
ons, $.'i.,54.iu box; grapefruit. $o&8.o0
per box; bananas, 12(dl3c per pound;
grape. ;LU lug; apples, $1.35 v 3.25 pel
box.
VEGETABLES Cabbage, le2K0 pel
pound; lettuce, 3-504f3.75 per crate; car
rots, $1.50 per sack; garlic, 2025c;
beeas. S2 per sack; cauliflower, J2.2iu3.75
per crate; celery, $4.50vv4.75 crate; green
peppers. 2oi sou per pound; sprouts, 20c
pound; rhubarb, 20c pound;, spinach, $20
2.2o box; turnips, $2.50 per sack; peas, 20c
pound: tomatoes, $0.50 per lug.
POTATOES Oregon. $I.3'al.50 per 100
pounds; Yakima, $2; sweet pouitoes, 7o per
pouud. $3.5u per hamper.
oilo.s Oregon, ii.au per sack, call-
forma brown, Jl.iua l.75 per sack.
Staple Groceries.
Local Jobbing quotations:
SUGAR- Sack basis: Cane granulated,
30 c per pound; beet. b.20c per pound.
NUTS Walnuts, 15l&27c; Brazil nuts.
34c; filberts, IjUISo; almonds, 2&30c;
peanuts, 8012c per pound; cucoanuta, $2
per dozen; pecans, 23c; chestnut, 300 per
pound.
HONEY corao, (l.iosi.'o per case.
KICE Blue Kobe. Vc per pound; Ja
pan style, IVtc p-r pound.
BEANS small wnut, oc; large white.
6c; pink, 7 fee; ilmk, luc; bayou, 13c,
red. TiC per pound.
COri-r.tt Koasiea, ouia, arums, 140300
Der pound.
SALT liranuiatea. Dale, $3.5004.25
bait ground, tun 5US, $it. 75; loos, $111.2
tump rock, $2o.o.
Provisions,
HAMS All sizes, 30 a 33c; skinned, 260
32c; picnics, 21c
BACON Fancy. 404c; choice, 30 34c
standard, 2tia2bc.
laru i-ure, tierces, auc pound; com
pound, tie -ces, 13 c
DK1C SALT Bucks, 2124c; plates, 18c.
Hides. Felts, i-lc.
HIDES Salt hides, all weights, 0c per
pound, r en hides, all weights, 5c; salt
bulls, all weights, 5c; green bulls, 4c; calf
skins, green or salt, 10c; kip skins, green
or salt, oc; ary niues, ic; dry salt hides,
uc; ary calf, 15c Above prices for coun
try bides and skins. Prices for city skins
and hides follow: Calf skins, 12c per
pound; kip sains, oc; city packer hides,
areen, 6c.
FELTS Salt pelts, full wool, country.
35c(;5uc; packers, 5060c each; drv lor 4
wool pelts, fine, 7o pound; dry long wool
pelts, medium, oc; ary long wool pelts.
coarse, c
TALLOW No. 1. 5c: No. 2. 4c pound.
CASCARA BARK 1U2U peel, 80 pound.
nurd lu-u crop, cnoice, 42oo pound.
WOOL Local market based on eastern
scoured values as follows: Eastern Ore
gon No. 1 staple, 80085c .eastern Oregon
clothing, 6U0tHo; Valley, No. 1. 630 per
pound.
MOHAIR Nominal.
Oils.
LINSEED OIL Raw. In barrels. 99.
S-gallon cans, $1.14. Boiled, in barrels,
$l.ol; 5-gallon cans, $1.18.
TUKrr.-Nil.Mit, u) tanks, 11.24: cases.
$1.39.
c UAL oil tidi. wagons and Iron bar.
reis. 17c; cases. 30037c
FUEL OIL Bulk, $2.35 per barret
GASOLINE Tank wagons and iron bar.
rels, 2Uc; cases, 41 c
Eastern Dairy Produce.
NEW YORK, Jan. 31. Butter Firmer;
creamery higher than extras, 50 051c;
creamery extras, 49 050c; creamery
firsts, 43 049c.
Eggs Unsettled. Fresh gathered firsts,
8c; fresh gathered firsts. 5557c.
Cheese Irregular state; whole-milk
flats, held, specials, 26 029c; state whole'
milk flats fresh specials, 24025c
CHICAGO, Jan. 31. Butter Lower.
Creamery extras, 45045c; standards,
44 c.
Egga Lower. Recelpta 7047 cases;
firsts, 52c; ordinary firsts. 44050c: at
mark, cases Included, 50051c
New York Sugar Market.
NEW YORK, Jan. 31. Raw sugar, 4.89c
for centrifugal. Refined, 7:50c for fine
granulated.
Am Beet Sug
American can
Am Car & Fdy
Am H & L Ffd
Am Inter Corn
American Loco
Am Smt & Rfg 10,000
American Sug 000
Am Sum Tob BOO
Am Tel & Tel 4O0
American Wool 3to
Am Z L & S 300
Anaconda Cop 8,000
Atcnison . l.ttou
Atr Of & W In 7.000
Baldwin Loco 15.900
Balti & Ohio l,5c0
Bethle Steel B 5.5tio
But & Sun Cop 1,0"0
Cal Petroleum 1.SU0
Canadian Pact 1,500
Centrl Leather 4m)
Chandler Mtri 11,000
Ches & Ohio 700
Chi Mil & St P 900
Chlc go & N W
Chi K I & Pao
Chlno Copper. .
Corn Products
Crucible Steel
Cuba Cane Sug
Erie
Generl Electrie
Generl Motors
Grt North Pfd
IliiioU Central
lnspira Copper
Int Me Ma Pfd
Interna Nickel
Interna Paper
Kan Cty South
Kenne CoDner
Mex Petroleum 1S.6IK)
Miami Copper 200
-Mid States Oil 15.400
Midvale Steel '
Missouri Paclf 800
Nevada Copper 20
New York Cen
X Y N H ft H
Nor A Western
Northern Pan if
Ok Prd ft Rfg
Pacific Mall
Pan-Am Petrol
Pennsylvania..
Plltn & W Va
Ray Con Cop 1.300
Reading , 4.4"0
Rep Ir ft Steel 1.700
Roval D N Y 2,100
Shell Tr & Td 100
Sin Oil ft Rfg 8.100
Southern Pacif 1.600
Southern Rwv 700
S O N J Pfd 300
Studebak Corp 43.4(10
Texas company 2.2'K)
Texas & Paclf 6.900
tTobacco Pdts 400
Transcontl Oil 1.000
Union Pacific 500
U S Food Pdts 6l0
U 8 Ind Alchl 1.500
U S Rtl Stores 8.4O0
U s Rubber.. 8.100
U S Steel 10.000
U S Steel Pfd 300
Utah Copper.. 400
West Electric fxW)
Willys - Overld 2.700
tExtra dividend.
BONDS.
U S Lib 8s...ni.90A T & T cv
do 1st 4s e87.00!Atch gen 4s
do 2d 4s. .
4O0
800
300
1 ,500
6,700
1,700
300
400
8.51 Ml
' 1.5O0
600
800
1.6ck
l.OOO
3,000
200
1.2O0
700
2,700
1110
9,600
1.000
3(10
2.000
1,400
1110
89 i
s
40
83 H
71
80.
35
5S4
14
37
117
40
74
59
28
0S
27
22
72 -Ii
23
13
128
15
78
90
35
54
35
62
20
20
100
1
14
81
19
11
72
21
101
87
8
17
76
41 K
' 29
13
84
7
06
43
24
lS
23
1IK
09
44
22
54
10
120
26
094
56
70
83
110H
85
45
SM
Low.
45
81
123
43
46
83
30
113
80
99
67
9
Swift & Co. Stocks.-Closlna-
nrlces for Swift & Co. stocks at
Chicago were reported by the Overbeck ft
Cooke company of Portland as follows:
swift Co 102
Lastlcnlfr International 27
sale. I i,ibby. McNeil & Llbby 12
National Leather S
82"
68
88
34
56
13
36
117
40
71
59
28
68
26
22
93
22
13
128
34
77
90
34
63
15
60
19
19
157
19
13
81
18
11
71
20
101
S5
3
16
75
41
29
3 3
83
66
65
43
24
7
22
108
06
43
21
53
10
119
25
09
65
69
82
110
85
44
8
45
31
123
44
40
83
43
V3
bU
99
67
V
39
S3
70
89
34
67
34
30
117
40
J.7
OS
28
68
26
22
93
23
13
128
34
77
90
8.1
53
15
01
39
20
158
39
14
81
1S
11
71
20
101
85
3
17
75
41
29
33
83
66
65
43
24
97
22
109
57
43
21
63
10
119
25
69
55
69
82
110
85
44
8
95
78
88.8O D ft R G con 4s 64
do 1st 4s...87.20 N Y C deb Os.. 90
rir. 2i 4 U s. . .86.36 N P 4s 77
do 3d 4s...89.20!N P 8s 55
do 4th 4s...86.60Pac T ft T 5s.. .'S3
Vietorv 3s ...97.S6iPa con 4s 9ou
do 4s B7.26S P cv 5s 9fl
U S 2s reg 99 ISo Ry 5s 87
do coupon ..-99 U P 4s 82
U S 4s reg...102!U S Steel 6s... 94
do coupon ..'102 I
Pan 3s reg 89 Bld.
Mining Stocks at Boston.
BOSTON. Jan. 31. Closing quotations
Allouez 20 North Butte ... 11
Ariz Com 8 Old Dqm 19
Calu ft Ariz... 49 Osceola ........ 27
Calu ft liecla. .245 Qulncy 39
Centennial .....10 ISuperior 8
Cop Range ...5 sup & Boston.. 1
East Butte ... v snannon 1
Isle Royalle ... 20 U tah Con 4
Lake Copper... 1 Winona 60
Franklin 2 Wolverine 12
Mohawk 45 Greene Can ... 23
Money Silver. Etc.
N1TW TORK, Jan. 81. Prime mercantile
paper 7 0 8 per ent.
Time loans easier; uu days, o days and
six months, 6 07 per cent.
Call money firm, high, 8; low. 7: ruling
rate, 7; closing bid, 7; offered at 8; last
loan, 8.
LONDON, Jan. 31. Bar silver, 35 d per
ounce. Money. 4 per cent. Discount
rates, short bills, 6 06 11-18 per cent.
Three months bills, 6 11-16 per cent.
Foreign Exchange.
Foreign exchange rates at close of busi
ness yesterday, furnished by Northwestern
National Bank of Portland. -The amount
quoted is the equivalent in United Stales
dollars:
Country Foreign Unit.. Rate.
Austria, kronen $ .0034
Belgium, trances 0770
Bulgaria, leva 0145
Czecho-Slovakla, kronen 0140
Denmark, kroner 1980
England, pound sterling 3.89
Finland, finmark 03T3
France, franc . .0723
SAN FRANCISCO PRODUCE MARKET
Prices Current on Vegetables, Fresh Fruit.
Etc., at Bay City.
SAN FRANCISCO, Jan. 31. Butter Ex
tras, 44c; extra firsts, 43c
EGGS Fresh extras, 4ac: extra firsts.
42 c; extra pullets, 40c; undersized pul
lets, 39c
Cheese Flats, fancy, 26c; Young Amer
ica. fancy. 32 c.
Veiretabled EEKPlant. soutnern. 1O02OC
cream squash, 5u4i65c lug; potatoes, street
prices, Rivers $202. 3o lor No. 1; aaunas.
303.25; sweets, $5.2505.50; onions, Aus
tralian brown, 75c 0$1; green, $101.00 box
beans, nominal: tomatoes, soutnern, ijc
$2; cucumbers, hothouse, large, $2.tU02. o
dozen; celery, crate, $i.ou0s.-so; game.
7010c: cauliflower, 9OC0S1 dozen; cao-
hase. lc lb.: bell peppers, soutnern, 1D0
20c; chile, 10015c; turnips, 75c0$1.2o
sack; beets, $1.25 sack; parsnips, $l.iu02
suck: carrots. $101.2o sack; peas, 90Lc;
rhubarb, southern, $22.o0 box; bay, 100
lb.; lettuce, $1.7002.75 crate; artichokes.
75c $1.00 dozen; spinach, 50 ic.
Poultry Hens,, 3i0'37c; strictly young
roosters, 37040c; old, 22023c; fryers, 450
5uc; broilers, 66000c; ducks, O0.oc;
squabs, 75085c; Belgian hares, live, 26
27c; geese, 32 0 35c; pigeons, old, $2.oO03
dozen; turkeys, dressed, 42 0 40c; live, 43
ft 45c.
Fruit Navel oranges, ;.au0s. 10; lem
ons, $2W3.50; lemonettes, $1.50 0 2; grape
fruit, $203; Arizona, $404.60; apples,
Newtown, $1.2003; pears, nominal; ban
anas, 80 9c.
Receipts -Flour, 12o0 quarters; wneat.
423 centals; barley, 3180 centals; oats, 800
centals; beans. 6339 sacks; corn, 1200
centals; oats, 800 centals; hay, 233 tons;
potatoes, 0870 sacks; hides, 5 bundles; lem
ons and oranges, 2700 boxes; livestock, 000
head.
Dulufh Linseed Market.
DULUTH, Jan. 31.- Linseed on track
and arrive, $1.75.
Cotton Market.
NEW YORK, Jan. 31. Cotton Spot,
quiet. Middling. 14.30c.
The Agricultural Wealth
of This Famous District
Is Over 10 Times Its
Bonded Indebtedness
6 Municipal
Bonds
-ALAMO DRAINAGE DIST.-
of Big Horn County, Wyoming
INCOME TAX
EXEMPT. Prices
SUPPORTED BY to Yield
TAXATION.
Bond Due, 1924-38. Denomination, $100, $500, $1000.
Money raised by this issue goes back
into the land that secures the bonds.
7
LUMBSKMENS TYOJST
COMPANY
BROADWAY and OAK
Portland Won. 1
Year ago 29
Season to date.10.7ol
Year ago .... 4.74a
Tacoma. Sat.. 4
Year ago .... 21
eon to date 3.211
Year ago . 4,734
Seattle Sat 22
Year ago . &
Season to date 3,45(1
Year ago .... 4.31.1
Astoria to date 813
Year ago .... 70S
2
1
1S2
10b
47
S3
17H
221
1
38
521
2tiuu
5
0
640
1&O0
4
S
24 ft
40U
1
S54
3U1
86
140
302
63
22
1'.
3.'.
1 400
1214
630
27
1
1071
978
51
37
KGti-Bl VINO PRICES AU.VIN ARE CUT
Thrt-e-Ont Decline In Bids Is Announced
ay Shippers.
Kggs received yesterday were taken by
shippers at 3S cents, case count, but the
eountry was notified of a 3-eent reduction
on today's receipts. The buying prices
will he 83 cents, case count, and S8 cents
for selects. Portland delivery. There were
no orders from the east and shipments
sent out were on consignment. Local de
mand was only fair. Today's Jobbing
prices will be lower at 42 cents for can
dled ranch and 44 cents for selects.
Tbs oube butter market was steady and
unchanged on good grades and even the
15
Kingdom
of
Denmark
Guaranteeing Danish
Municipalities
8 Gold
Bonds
COLLECTABLE AT 107V4
Price 98
,llSl TjrirnT rnvWAkrv lJsVUS.1
BROADWAY and OAK
Em
;TH en WASHiNSTPri sngcrs
GcnservAthre
Ctistodian
Gnat.
As a member of
the Federal Reserve
system, the Hibernia
Bank offers you the
maximum in safety,
together with the
convenience of the
smaller bank.
Odd Lots
$30,500 Portland, Or., 6a
Maturity, July 1, 1927, at 101;
yield nearly 6.
$0000 Aberdeen, Wash., 5s)
Maturity, December SI, 1930,
at 96.28; yield 6.
94500 Douglns Oo Wash., s
Maturity, 1922 and 1923, at
100; yield 6.
912,000 Enterprise, Or., 6s
Maturity, February 1, 19S0, at
100; yield 6.
$2000 Slnrshflcld, Or., 6s
Maturity, August 1, 1926, at
100; yield 6.
f20O0 Port of Astoria, Or., 6a
Maturity. July 1, 1930, at
98.23; yield 654.
99550 Dinnba, Cal, 7a
Maturity, 1921 to 1930, at
100.32 to 103.65; yield 614.
1 l,4f7 Turlock, Cal- 6a
Maturity, 1921 to 1930, at
96.48 to 99.72; yield 6.
937,500 Casper. Wyo, 6s
Maturity, 1924 to 1929, at
97.50; yield about 6.38 to
6.78.
917300 Toppenish, Wash, 7
Maturity, 1922 to 1927, at 100;
yield 7. . '
917.033 Vancouver, B. C 4 Vis
Maturity, February 1, 1923, at
93.41; yield 8. "
921.500 Ohio -Power Co. 7a
Maturity, January 1, 1951, at
S5.25; yield 7.40.
910,000 Kansas City Power A
Light Co. 8a
Maturity, December 1, 1940, at
1-00; yield 8-
910,000 Kingdom of Denmark 8s
(Guaranteeing Consolidated
Municipalities). Matured by
sinking- fund from 5 to 25
years at 98; yielding: 8
to 10.
The Benefits of Sound Investing.
A Flour manufacturer could increase his output of
flourne-half if he had sufficient funds to pay for larger
plant facilities. To do eo out of surplus funds might
require ten years.
In order to save this time, he borrows money and
mortgages property as security for his creditors. This
mortgage is put out in the form of bonds through a
strong investment house.
The investors who buy his bonds, which are really
small units of a large mortgage, perform a three-fold
service: . (1) to themselves by obtaining a definite rental
for this money; (2) to the flour manufacturer by enabling
him to increase his business; (3) to the public by using
accumulated wealth to produce more flour, create more
work for more men and -make an essential food com
modity more abundant.
Likewise our business of distributing sound1 investment
securities serves: (1) Investors; (2) borrowing corpora
tions, and (3) advancement of human progress. Write for
Investment Opportunities of Today, an interesting descrip
tion of current investment securities.
Blyth, Witter, & Co,
' Yeon Bldg.. PORTLAND
SEATTLE - SAN FRANCISCO-IOS ANGELES - NEW YORK,
Federal Income Tax Exempt
MUNICIPAL BONDS
Maturing in
1 to 28 years
At Prices to Yield
S. to
yy2
KEELER BROTHERS
Denver Investment Securities Portland
UNITED STATES NATIONAL BANK BUILDING
Broadway 5800
Collateral
Benefits
Because of a growing demand by Banks
throughout the United States, the following
clause has been placed in the American's
Unlimited Policy of Credit Insurance:
"COLLATERAL BENEFITS This
Bond is not negotiable but the Company
will, upon written request of the Idemni
f ied, provide that any excess loss, that may
become due and payable under its Condi
tions and Stipulations, shall be paid to any
Bank or Trust Company designated by,
and for account of the Indemnified."
This Unlimited Policy guarantees to pre
vent, else pay, bad debt losses beyond the
normal, in any line of business, whatever
the aggregate net amount of such losses.
Manufacturers and wholesalers, the value
of our Service to American Business is evi
denced by the fact that our policyholders
now carry protection on a total of two bil
lion dollars of Sales. Full particulars will
be sent you upon request, without obliga
ting you in any way.
Payments t Policy holders about $10,000,000.00
AMERICAN CREDIT-INDEMNITY CO.
or NEW YORK E. M. TREAT, president.
1 issues standard unlimited policies
H. T. MacRILL, General Agent
Board of Trade Bldg. Phone: Main 1179
Portland, Oregon
I Call or Phone g
PP SMITH j
oroundploc camp I
H LUMBmNSNS amuoiNa Hj
g$ 1 Q Fifth and Stark CO, n
H a -WAV B7SO Ej
Announcing
The installation of our NEW COOLERS
assuring protection to our shippers.
Dressed Hogs, Veal, Butter, Eggs, Cheese and
Poultry.
Send for shipping tags and try our service.
BROWN & CO.
Wbolrsale Produce.
Reference! Broadway Bank
310 Hoyt Street, Portland, Oresroa
Phone 632-68
r55
i
i
TsssfaiTssffsaf ' hstTi BsiTT
The same sound judgment which has
guided the affairs of this bank for more
than three score years guides it today in
the selection qf the bonds it offers you.
An Oregon Municipal Bond
The (teneral obligation of a rich gprrlc.iiltnral district
Immediately udjuiiilngr the City of Portland. Oregon.
Exempt From All Federal Income Taxes
We own and recommend for investment the unsold
portion of an issue of
$400,000
MULTNOMAH COUNTY DRAINAGE
DISTRICT NO. 1
5V2 Coupon Bonds
Denominations $500, $1000
Bonds are available from the
following: serial maturities:
1933, 1934, 1935, 1938, 1939
Prices to Xield 6
This is an exceptionally well
secured bond.
Full information on request.
OJ
I . scared bond. ytii .MSHrfJI
We offer our allotment of the
Danish Consolidated Municipal
25-Year 8 Sinking Fund External Gold Bonds
(Payment Guaranteed by the Kingdom of Denmark)
Dated February 1, 1321. Due February 1, 1946.
Redeemable at 107 after February 1, 1931.
Price: 98 and Interest to Yield Over 8
j. pevcreaux RtSmpany
87 Sixth Street
INVESTMENT BONDS
PORTLAND, OREGON
Broadway 1042
I1ERRIN & RHODES, INC.
Railway Exchange Bldg. Main 283.
Establtined 1896.
Seattle. Portland, Tacoma.
Fast private duplex wire coast to
coast Stocks. Bonds. Grain. Cotton,
foreign Exchange.
A LI. MARKETABLE SECURITIES.
Members Chicago Board of Trade.
Correspondents B. F. Hutton ft Co
Members
New York Stock Exchange.
New York Cotton Exchange.
New Orleans Cotton Exchange.
LIBERTY AND VICTORY BONDS.
. Headquarters tor buying and selling
sit issuea Large or small lota
FACTS NO. 608
THE SUCCESSFUL
ENGINEER
of today is the man who econo
mizes on upkeep by buying or
building- the best. First cost is
a secondary consideration.
WHEN W EARING SI RPACB IS
WARRENITE f
BITULITHICL
produced under our expert su
pervision and inspection, you
have eliminated the mainte
nance problem by a proved fac
tor of safety.
Sei Fifth Street, Port
land seventeen (17)
years' service.
Warren Brothers Company
HOTEL HOYT
Strictly Fireproof. Near both depots
and convenient car service to
all parts of city.
Single Rooms Without Bab. ft and op
Single Rooms With Bath, $2 and up
Y. LB EHT 8. ROBE, Manager.
isiiinese
Loans
Loans to Peking
Now Will Prolong
Civil War in China
Please Lend No
Money to
Kill Our People
KU0 MIX TANG
(The Chinese Nationalist
Party)
265 Vi Davis Street
isatio"wl citv eAjjinjr
Pacific Gas and
Electric Company
20-Year 7 Gold Bonds
In $500 and $1000
Denominations
One of the largest and most
successful electric light and
power and gas corporations
at a price to yield about
7.10
Circular upon request for OR366
The National City
Company
Offices Iq more than 60 . cities
Portland, Yeon Bids.
- Telephone Muln 4107:1
Read The Oregonian classified ads.
The Financial
Outlook for 1921
SEVENTH YEAR
Kot an Annual Review, but A comprehen
sive, conservative snd valuable book on
what ths master minds nf America be
lieve 11)21 will unfold. An Indtapecsable
guide to the business mas and financier
alike.
Partial Summary of Contents
Opportunity.
The lum Outlook.
A composite Picture of Financial 'and
Bi:slne.s America as seen through the
eyes of 25 American Leaders ot iudus
try.
Stock Market Averaces for 1920.
Ten-Year Trice Range of Leadlcc Stocks.
EBB and Flow of Fries Waves for 83
Years.
Trend of Stock Prices During and After
the War.
Thirty Seseoned Investment and Specu
lative Opportunities.
Complete Sales Record of X. Y, Curb Mar
ket lor 1KV.
Copy free upon request Edition Limited.
McCall & Riley Co., Inc.
20 BROAD STREET
NEW YORK
H;i Walnut Street, riilludelphla.
IIarrbliurgt i'a. Iaui-alerc Pa.
Private Wires Connecting- Offices.
V