Morning Oregonian. (Portland, Or.) 1861-1937, February 03, 1921, Image 21

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Morning Oregonian., February 03, 1921, Page 21, Image 21

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Newspaper Page TextTIIE MOKXTXG OREGOXIAN, THURSDAY, FEBRUARY 3,-1931 GBEAS t POTATO HOLDINGS Butter, lbs. 274,243 413.855 Cheese. Iba 13j,.V 619.142 Rgvs, caa?s ..... 10 2.124 Poultry, Iba. 265.811 228.750 Borar Decline tenia. The coast sugar market yesterday fol lowed the eastern decline with a general reduction. Local jobblnc price were cut 30 cent a hundred to S for cane granu lated and to 7.!H for beet sugar. Stocks 18,000,000 Bushels More Than Year Ago. MOVEMENT IS NOT ACTIVE So Promise Held Out ot Better Marketing Conditions; Ore gon Outlet Is Limited. From present Indications t-ere will he B Improvement in potato price this sea son. The stock of good marketable pota toes left In Oreson is less than a year ago, bat In other sections of the country 4here 1 a large surplus, the supply amounting to about 3S.000.000 bushels more than last year. At the moment the Oregon market 1 quieL The only demand that can be filled Is from California, and buyers there will take only limited quantities ot the best grade. For this class of stock, buyers are offering $1.15r 1.2." to farmers. To get Into the southwestern market, potatoes would have to be bought here at from 73 cents to $1.15 In order to compete with Idaho and Colorado sellers, and Oregon growers will not accept these prices. Shipments to the south la January amounted to 111 cars from points reached by the Southern Pacific and 31 cars from other sections. The bureau of crop estimates, la a sum mary issued yesterday, estimates the total commercial -potato stocks in the United States at 115.2SC.UO0 bushels on January 1, lO-l. This compares with stocks ef 127.- 40o,0r0 bushels on January 1, 1020, and '4.973,00o' bushels on January 1, l'.HD. Holdings in the leading potato producing states compare as follows: Jan. 1. "21. Jan 1 XEW YORK, trlfugaU 4.64c; 6.S3C Feb. 2c Raw sugar, cen reflned, fine granulated. Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearings. Portland $5.0!s.3' Seattle 4.tl22.74 Tacoma ............. .VU.4K5 Spokane l.r:i2,4H3 Balances. $l.XH.2.-0 1.0IS7.449 54.0S4 444,ilti TOBIXAXD " MARKET QUOTATION'S Grain, Floor, Feed. Eta. Merchants' xchaoge, noon session: 'Wheat Feb. March. Hard whit $1.51 1.31 Soft white 1.48 1.4 White-Club .' 1.4S 1.4H Hard white j 1.41 1.41 Northern spring .............. 1.41 1.41 Red Walla 1.41 1.41 Oats No. 2 white feed S2.5 32 50 Millrun 31.00 31.00 Com No. 3 K. T. shipment . 29 00 Xo. 3 Y. delivery 2U.0O 2.0 FLOUR Family Da tents. $!)80: bakers' hard wheat, $9.50: bakers' bluestem pat ents, $; raHey patents. 7.W; whole wheat. N 20; graham. $8.05. JIILIFEKD Prices f. o. b. mill. Mill- run, $35 per ton; rolled barley. $43043; rolled oats. 144; scratch feed, 0 per ton. corLN Whole. t-U: cracked, 4 per ton. HAT Buvlnr nrlre.i. f. o. b. Portland: Alfalfa, ia per Ion; cheat. $2223 per ton; clover. fM: valley timothy. $27928; Eastern Oregon timothy, $30. Maine New York .. Pennsylvania ?1!c li can .... "Wisrnnin ... Mlnnesi)U .. .. Colorado .... Idaho Washington . ...12.177.ooo ...2l.73S.OOi ...12.o:i'i.'oo . . . liI.0ss.iMM . ..1.YSK7.IHN) . . . 10.3W.ili0 ... 4.477.0HO ... 3.542. Oil . .. 4.2.O.OlK 2a lS.nBl'.Olia 18.!-J.Oii 0.240. 000 .7i!J OHO lu.220.ui to 8,!ttO.0ii0 4.1!.Yoo 2.478. t Hi 3.9SS.0O0 4 1 20 1 20 2 t 17 1S2 527 S.- 151'l 169 2723 8!3 1240 1 8 12 47 M4 87 844 68 1831 140 tiJT 4 1 3 1 17 179 247 300 10741 223 5.12 544 2 S3 22 W 2 6 37 WHEAT IlK.MEJt ' BUT STILL QUIET Bid Are Xaised 1 to I Cento at Local Board Semien. , The local wheat market responded to the strength In the east, but no increase in activity was reported. Bids at the Mer chants' Exchange were advanced 1 to 3 cents. Coarse grains were unchanged. The British wheat commission reiterated that it is out of the wheat market until March except for Australian and 11 an ehurian wheat. . A Buenos Ayres cable said: "Argentine exporters are reported to have decided to offer wheat to Europe free of tax, C. i. f. wheat for Europe is figured at 6 cents under American to the continent and near ly 10 cents to the United Kingdom. Argen tine forecasted shipments this week Wheat. 923.000 bushels; corn. l.SOO.OOO bushels; oats. 1.400.000 bushels; liaseed, JO. 000 bushels. Terminal receipts, in cars, were reported by the Merchants' Exchange as follows: Wheat Barley Flour Oats Hay Portland. Wed. 55 Tear ago S Season to date.in27 Year ago 57tW Tacoma. Tues. 3 Year aa-o 7 Season to date. 3234 Year ago 47sO Seattle. Tuc-S.. 13 Year ago 14 Season to date. 34!7 Year ago 4331 Astoria, to date 813 Tear ago...... 814 CROPS IX EUROPE ARE FORW.VRD Further Sawing of Grain In India Is Impossible. Cabling on grain crop conditions abroad, Broomhall said: Throughout the greater part of Europe the winter la continuing very mild, and crops generally look well. However, for ward growth of cereals is causing some anxiety. India Two inches of rain has fal'en in the Punjaue and United provinces. Crop eonditioa of wheat unofficially fixed TO per cent. This rainfall should prove very beneficial to the grain already sown, but further sowing of grain Is impossible. for the season is now toe late. Australia Heavy rains have fallen and conditions are generally optimistic SO IMPROVEMENT IX EGGS NOTED Laeal Bnsinrs Is Done oa 35-Cent Basis. Tone Weak. There was no improvement In the egg market yesterday. The tone was weak and shipping orders lacking. Local busi ness was done on the basis of 35 cents, case count. Butter was steady with a fair demand for the better grade of cubes at the old price. The print movement was mod erate. Poultry was weak and slow. For heavy hens. 28 cents was the outside price and light hens went at 23 8 24c. The country dressed meat market was in good shape, with veal selling at 1S&6 10c and pork at 16c. Wheat Exports Increased. Total exports of the leading cereals and Tour from the United States In December, 1920, and the same month of 1919 compare as follows: -Bushel Barley com . . Oa ls . . Hve Wheat Flour . Dee., lo.'i). Dec. 1919. 2.520. !)1 433.S09 3.041. tisT 4i.ii.370 .. 5.K2I1.H31 . .25..s:i(i,270 y51,730 1.323.98U 3.432,242 2,41..-4t 0.519.7tS 1.312.9S2 Barrels. Official figures for last year and previous year follow: -Bushers- the Barley ... Corn Oats Hve Yi'heat .. Flour .... 1920. . 17S.-.4.22T . 17.7iil.420 . 12.S77.S74 . 57.07u.4SO .21S.2sii.231 .19.853.95U 1019. 37.tSll.840 Il.lil2..-.s3 55.294.479 32.S9S. lijit 148. os t. 470 2ti.449.S81 Barrels. Butter Stork Are Lighter. Dairy produce holdings at Portland and Feattie compare with stocks a year ago a follows: At Portland Butter, lbs. . Cheese, lbs. . Kggs. cases . Pouttry, lis. At Seattie- Feb. 1 Feb. 1, 1921. 1920. 220,140 2S9.SS7 78. .".23 2"5. 354 1 2H 207 173,1129 233.933 Feb. 1 Feb. 1. 1921. 1920 Dairy and Country Produce. BITTEB Cubes, extras. 3940c pound; print, parchment wrapped, in box lots, 45c ; cartons. 4 tic Butterfat. buying price, 30ff3.se pound at station; A grade, 43c; B grade. 41c; Portland delivery. EiitiS Buying rjrlcea. case count, 35c delivered: Jobbing price to retailers, candled ranch. 42c; selects, 44c imeese Tillamook triDlets. price to Jobbers f. o. b. Tillamook. 30c POULTRY Hens. 23(&2Sc: springs, 23c ducks, - 301i 40c; geese, nominal; tur keys, live, nominal; do dressed, nominal. PORK Fancy, 10c per pound. , VEAL Fancy, 18i819c Fruits and Yege tables. FRUIT Naval oranges. 3-255: lem ons, $3.754.7 ibox: grapefruit. 38.50 per box: baaana. 12el3isc per pound grapes, J4.50 Kg; apples, $1.35 'f 3.25 per box. - - VEETABLEri Cabbage.. 192C per pouna; lertuce, J3. 50(13.7 per crate; car rots, si. 50 per sack; garlic. 20 25c pound beets. $2 per sac; cauliflower. $2.253.75 par crate; . celery. $4.5004.75 orate; green peppers,- 23 30c per pound; sprouts, 20c pound; rhubarb. 2uc oound: spinach. $24 2.25 box; turnips. $2.50 per sack; peas, 2c pound; tomatoes. Stt.50 per lug. POTATOES Oregon, $ 1.35 & 1.50 per 100 pounas; iaKima. 12; sweet potatoes. (C per pounc, id. oo per hamper. . ONIONS Oregon, $1.50 per sack; Call- tornia brown, $1.50 91.73 per sack, 6tanle (irorerlea. Local Jobbing cluotatlona;. SUtiAR Sack basis: Can granulated. ac per pound; beet, 7.90c per. pound. NL'TS Walnuts, 15a27c, Brazil nuts. 34c; filberta, 1518c; almonds, 28030c peannts, 9e,f2cper pound; cocoanuts, 12 per dozen; ptcaas, 23c," chestnuts, 30 o per pound. HONEY Comb,' $7.758.25 per case. RICE Blue Rose, Oc per pound; Ja pan style, 7c per pound. BEANS Small white. 6e; large white. Cc; pink, 7S,C; lima. 10c: bavou. 12Vic; ground, ton 50s, $19.75; 100s. $18.25; lump rea, ic per pound. COFFEE Roasted, bulk, drums, HQ 36c per pounu. . SALT Uranuiateff. bale, $3.5034.25; half ground too, sos. $19.75; 100. I18.2S; lump (OUi, ).'U.OV. Provisions. HAMS All sixes, SO 6 33c; skinned, 269 32c: picnics, 21c. bacon Fancy. 40 43c; choice. 30034c standard, 26u.28c iJinu r-ure, tierces, 19c pouod; com- pouni. tierces. 13'i.c "D8T SALT Backs. 2124c; plates, 18c ' Ride. Pelts, Etc HIDES Salt hides, all weights, 6c per jwwnv. a-ree-n ntoes, all weights. 3c; sslt skins, all weights. 5c; green bulls. 4c; calf kins, green or salt. 10c; kip skins, greoa ur aaiv. oc; ury niaes, 12c; dry salt hides. Uc; dry calf. 15c. Above prices for coun try hides and skins. Prices for eliv .kin. and hides follow: Calf skins. 12c per pound; ii emus, oc; city packer Hides, green, 6c PELTS Salt pelts, full wool, country. 33'jjoc; packers, 50o)6oe each; dry long wool pelts, tine 7o pound; dry long wool pelts, medium, 6e; dry long wool pelts. coarse,a4c. TALLOW Mo. 1. 5c; No. S. 4c pound. CA.SCARA BARIC 1920 peel, 8o pound. HOPS 1920 crop, choice, 24 5,25c pound. UOL Local market based on ,a,irn scoured values as follows: Eastern Ore gon No, 1 Staple. SOtroic: eastern Oregon Clothing, 604, U5c; V alley. No. 1. 65o Der pound. MOHAIR Nominal. Bond Department 4 u $1150 SECURITY for Every $100 Bond In addition the bonds are supported by taxation and money raised by the issue goes directly into the district for fur- -ther improvements. 6 Per Gent Gold Bonds INCOME TAX EXEMPT Alamo Municipal Drainage District of Big Horn County, Wyoming Prices to Yield 1 Bonds due 1924-'38. Den. ?100, $500, $1000. V:.,- . '-, v-, ' Call, phone or write for circular EKMEMS THUS! CQMPAliT BROADWAY AND OAK ' $5,000,000 The Beaver Board Companies Eight Per Cent Twelve-Year Sinking Fund Gold Notes Dated January 1,1921 " Due January 1, 1933 Tax Refund in Pennsylvania and in Massachusetts up to six per cent, ' The Company agrees to pay interest without deduction for tive oormal Federal Income Tax to tfae extent of 2 per cent Callable as a whoJe or in part on any interest date as follows: at 106 and interest on or before January 1, 1924; at 105 and interest after January l, 1924 and on or before January 1, 1927; and at decreasing prices to maturity Central Union Trust Company of New York Trustee Young Oils. LINSEED OIL, I'.IW In harr.l. 01- 5-galton cans, J1.14. Bulled. In barrels, 11.01; 5-gullon cans. $1.10, TURPJSNTI.VS, - la tanks, 11.44; cases. COAL Oil. Tank sraeona and Irnn rels. 17c; cases, S037c. FUEL OIL Bulk, JJ.35 per barrel. GASOLINE Tank waeons inH Irn V,. . rels. -Mc; cases, 41 uc SAK sTBAXLISCO PRODUCE MARKET Prices Carrent 00 Vrsetablra. Fresh FralU. 1 Cte at Bar City. SAX FRANCISCO, Teb. 2 Butter Ex as. lic; extrayriisis, 41tc. ESs Fresh extras. 40c: extra firt :-hic; extra pullets. 41c; undersized pul- ieis, OOT.. Cheese Flats. fancv. 25i4er America, fancy, 31c. vegetables Eggplant, southern. Si15c: cream stiuusn. 0uG.',c lug; potatoes, street prices. Hivers l't2.33 for No. 1; Salinas, t3i3.2u; sweets, $.i.L0Qa.5O; onions. Aus- ralian brown. Ticai Jl: green. Slirl.sn hoi: beans, nominal; tomatoes, southern. 75c as $1.T5; cucumbers, hothoune, iarge, $2.54t 2 7S doa.; celery, crate $1.5063.00; garlic. 7W10c; cauliflower, uocrall dozen: cab bage, lc lb.; bell peppers, southern 59 15e: chile, 5910c; turnips. 75ciatl23 sack; beets, fl.;02 sack; parsnips, il.75 -frj sacK: carrots, Sl.uu per sack; peas, ti(j 15c; rhubarb, southern, $'-'.uO2.73 bo&; bay, loc lb.; lettuce. Il.Tiwa.SS crate: artichokes, T5cH.60 dozen; spinach, t r7c. Poultry Hens. 3537c: strictly young roosters. 37u40e: old. il'33c; fryers, 450 54e; broilers. 56itti0c; ducks, 303-V; squabs, 7595c: Belgian hares, live, 2uQ 37c; geese. SL'(f35c; pigeons, old, t-.i03 dozen; turkeys, dressed, 42p46c; live, 43 f45o. rruit Navel oranges, $24: lemona 23.50: lemonettes. il.502; grape fruit. $233; Artaona, S404.5O: apDles, Newtown, $1.2Jl2S3. pears, nominal; bt. nanas, 89c. Receipts Flour, 100 quarters: wheat. 24W centals: barley, 3BSC centais: hay. 140 tons: oats. 6o centals; corn, 500 centals: onions, 241S sacks; livestock. 210 head; potatoes, 4000 sacks; hides. 10 rolls. r Metal Market. NEW YORK. Feb. 2. Copper dull; elec trolytic, spot and first quarter, 12ffl3o. Iron unchanged. Tin easy; spot and nearby, 32'32y.c; futures. S3S33C. Antimony Spot, 3..G2c, Lf-ad dull; spot, 44c. Zinc easy: East St. l.ouls. spot. 5itx5.15c PfflCS HUE STRONGER ADVANXE R13IrCES LOSSES IX OTHER QUARTERS. . S T K H 4 H 900 Nor & Western 1,000 Northern Pacif 3.SiM Ok Pd & Rfg 1,"0 Pan-Am Petrol 4.000 Pennsylvania.. 3.5O0 Pitts & W Va Sou Ray Con Cop 500 Reading S.200 Rep Ir & Steel 4.100 Royal D X X 6.100 Shell Td & Tr BOO Sin Oil & Rfg 6.4(J Southern Tacit 5.100 Southern By 3.500 S O X J Pfd 1IM0 Studebak Corp 12,500 Texas company 8.!Hto Texas & Pacif. l,2tK) Tobacco Pdts "oo Transcontl Oil S.0 Union racincl,i0 U S Food Pdtsi.loO 1,20 4.200 U S P.ubber. , S.100 U S Steel. .. 13.100 U 8 Steel fd 400 rtah Copper,. 1.700 Western Union 00 West Electric 600 Willys - Over ld.v 1.600 BONDS. Liberty Bonds Recover Greater Part of Recent Declines Call : Money Market Firmer- NEW YORK. Fab. 2. Sentiment In stock market circles today waa bearish, thatu 8 ind Aichl ... .i. i. rh V 3 Rtl Stores) icruug iiiiuiiis iinfunii cv' co.t.m pressure directed a alnst almost every Important dlvlsloor ot! 'the jist. ' The money market, was a powerful fac tor, call loans -opening; -at 8 per ceitt.ths highest initial rate -atnoa the middle ot last November, and-, advancing to 0 per cent in the final hoar. . Quotations for time funds and commercial paper were unaltered, but offerings were small. Further nnsettlement m the commodity markets Indicated by' an extension of price reductions for crude and 'refrced oils and the sharp competition In the sugar trade were among significant stdellahta thrown upon, Industrial conditions. These devel opments coincided with additional an nouncements of wage reductions; more re trenchment of operations by the railroads and a budget of railroad earnings which were not calculated to stimulate a demand for transportation securities. Rails, howeyer, were the only relatively strong Issues, especially Great Northern and Northern Pacific, those stocks rising briskly In the laat hour and aiding mate rially toward reducing losses elsewhere. Sales were 525.000 shares. In the foreign exchange market a radi cal change for the better occurred, Daseti, according to reports, on short covering. The London rates made up more than yesterday's loss and substantial strength was evidenced by quotations to France, Belgium, Italy, Switzerland and Sweden, also to China. Liberty Issues featured the narrow deal ings In the bond market, recovering the greater part of their recent declines, but rails, industrials and equipment were, dis posed to ease moderately. Total sales, par value, tl3.300.000. Old United States gov ernment 2s rose hi per cent and the 4a per cent on call. CLOSING STOCK QUOTATIONS. 20 20-4 20 H 9 0 90 90 88 4 85 8 i - 3 S 3 74 4 73 Ml 74 i 404e 40 V 4'J4 2 28 2S 5 13 13 . 13 83 8244 82 SoH. 64 654 63',i 6214 62',, 41 ' 40 40 4 23 2:S. 231, U0V 59i 98 22 14 22 22 10S 10H14 10Si 5714 5"i 5K74 . 43 "4 42 21 20 14 21 53 -.52 63 10 .. 9 110 11S 119 24 H 23 H 23 i 6-Si ' 67"4 67M, 55 53 54 tIS 7 ! 67 92 -'81'i 82 lll4 111V4 nm 50 55 56 H S..-54 85 8r'4 4.-. 4 Ti 4314 814 8 8 Business: The Beaver Board Companies manufactures a general line of materials used in the building trade. Its products are handled by over" 15,000 dealers, and with its subsidiaries it is the largest manufacturer of waDboard in the world and one of the largest manufacturers of roofing and gypsum products. One of its chief properties is The Vulcanite Roofing Company Sales. Am Beet Sue 1.900 American Can 6.3'M1 Am Car & Fdy 1,200 Am H A L P;d 5.400 Am Inter Corp 3.000 American 1-oco -hio Am Srt & Rfg 8.300 American Sug 5,500 Am Sum Tob 500 Am Tel 4 Tel 1.10O American Wool 4.200 Am Z L & S 100 Anaconda Cop 2.100 Atchison 1.309 At Gl ft W in 7,200 ualdwin Haiti Sc Dethie Steel B Cal Petroleum Canadian Pacif entrl Leather ( handler Mtrs Ches & Ohio Chi Mil & St P Chicgo sSW Chi k 1 s Pac Chino Copper.. l olo r"l ee iron Corn Product Crucible Steel 11.300 Cuba Cane Sug 1.200 &rie uoo tienerl Electric 500 (iwnerl .Motors 12.300 llrt North Pfd S.0"0 Illinois Central Insplra Copper nt Me Sla Prl Interna Nickel nterna paper Kan Cty South Kcnne Copper Louis Jk Nash Mex Petroleum 20,500 Miami Copper 30(1 Mid States Oil 5.400 Midvale Steel 1.7O0 Missouri Pacif inio Nevada Copper loo V v York I'm 1.2"" Loco 20.500 Ohio 5.500 5.7(H) 2.500 800 8,700 3,300 2iN) 1.8O0 30 2.4HO 400 200 2.500 00 500 1.7(H) ' 2oo 4,300 4110 2.100 HH High, 43 30 121 43 40 14 82 42 sin 79 99 "4 66 8 8S 82 69 8S 34 56 85 lltt 7'. . 27 $ 6714 2 22 29 70 92 n 127 14 7" S 34 52 15 5S 19 19 99 156 18 13 31 lsi n Low. 42 29 121 10 45 81 40 89 79 99 65 8 38 81 67 87 33 55 34.. 115 39 69 59 20 7 26 22 29 69 91 14 21 13 127 73 SS 34 51 13 57 19 19 99 154 18 13 30 18 1114 71 Last s;i;e. 42 29 121 41 45 81 90 79 9!l 65 8 38 81 6S 88 33 56 34 116 39 70 5814 27 67 26 22 29 70 92 21 127 14. 77 88 34 61 58 19 19 99 156 '4 18 13 3( 18 11 71 95 78 90 87 82 94 V a Ub. 8s-. .-.91. SWA T ft T cr 6s do 1st 4s 8.50iAtch gen 4s.. do 2d 4s. . . . .85.54ID & R G con 4s 63 do 1st 4s...8rt.T0'N Y C deb 6s.. 91 do 2d 4s. . .8K.24.N P 4s 77 do 3d 4s. ..8.5iN P 3s 55 do 4th 4 s... 8 .88! Pac T ft T 5s.. 83 Victory 3s ...97.1Pa con 4s.... 80 do 48 97.20.S f CV ns... U a 2s rag. ., .99 So Ry 5a... do coupon t.9fl'U P 4s TJ s 4s reg...lo.-)i U S Steel Ss ao coupon .."J03 Pan 3s reg 89 : do coupon . . ,90 1 Bid. Mining; Stocks at, Boaton. BOSTON, Feb. 2. ClosinB quotations: Allouez 20 lOld Horn 19 Calu ft Ariz... 49 North Butte ... 11 Calu & Hecla..246 (Osceola 27 Centennial .... 9CJuincy , 39 East Butte ... 9 li Superior 3 uop Kange .... s wup Ac .Boston.. l rranklin 2 Shannon .. Isle Royaljo ', .. 20 lUtah Con . Laka Copper... 3 IWinona ... Mohawk 46 Wolverine 1 63 12 Money, Silver, Etc NEW YORK, Feb. 2. Prime mercantile paper, 7 per cent. Time loans, firmer, 60 days, 90 days and six months, 6 7 per cent. Call money, firm: high. 9 per cent: low. 8 per cent; ruling rate, 8 per cent; closing bid. 8 per cent; offered at 8 per cent; last loan, 9 per cent. Bar silver, domestle, 99c; foreign 61 c. Mexican, dollars, 46 e. LONDON, Feb. 2. Bar silver 34 d per ounce. Money 4 per cent. Discount rates, short and three montha bills 6 per cent. Security: These notes are the senior issue and only funded debt of the Company with the ex ception of $927,689 of mortgages and serial notes of three subsidiaries, existing when acquired. The Company, out of its total assets upon its balance sheet of more than $38,000,000, has appli cable to this issue net assets of $24,221,000 or 4V2 times the amount of notes outstanding, while the net quick assets amount to $10,830,000 or more than 200 of the principal of this issue. The Company covenants that no mortgage, other than purchase mqney mortgages, shall be placed upon its property or those of its subsidiaries dur ing the life of these notes, and that it will always .maintain net quick assets equal to at least 125 of the principal amount of notes outstanding. Earnings: -The Companies now constituting' The Beaver Board Companies for the last five years showed average net earnings applicable to this is sue, after depreciation but before Federal taxes, of more than five times the interest charges and during the first ten months of 1920 these earnings amount' ed to $4,510,000 or over eleven times the in terest charges on this issue for the entire year. li)ventories:TheCIompanysinventorieswhidi are largely manufactured by it from its own raw materials have shown no appreciable shrinkage from balance sheet values. Purpose of Issue: The proceeds of this issue are to be used as working capital for the increase in business in 1921 expected by the management. SINKING FUND : The Company covenants to pay annually to the Trustee for the retirement of these notes, either in cash or in notes of this issue, the following amounts on the following dates: December 31, 192,1, $100,000 December 51, 1924, $aoopoo December 31, 1927, $50000 December 31, 1925, $300,000 December 31, 1926, $490,000 December 31, 1922, $200,000 December 31. 1923, $2ocooo December 31, 1928, $500,000 December 31, 1929, $600,000 December 31, 1930, $600,000 December 31, 193 1, $700,000 December 31, 1932, $700,000 The Company agrees to make application to list these notes on the New York Stock Exchange Price 99 and interest IMBKEE Sl CO. , 208 SOUTH LA SALLE STREET NEW YORK CHICAGO BOSTON Federal Securities Corporation 38 SOUTH DEARBORN STREET CHICAGO ' Tbs informsdon sod these statistics ate oat guaranteed, bat have been ootained from sources c seuew to be accatast Foreran Bonds. Following foreign bond quotations are furnished by the Overbecit & Cooke com pany of Portland: Russian 5s. 1921 ao os, iuo ... do IMS ... Currency French Js. 1931 ... do 4s. W17 do 5s. 1U20 Italian 5s, 1!)18 ... British us. 101-2 ... do 5s. 1027 do 5s, mint do vky 4a do ref 4s Belgium rest 5s .. do prem 5s German W. I 5s . Berlin 4s Hamburg 4s do 4Vis Leipsis 4Vs do 5s Munich Sf do 5s Frankfort 4a , Jap 4s do 1st 44s , do 2d 4Hi Paris sixus U K 5Vis, 121 do 5 4s, 1U22 .... do 514s. 191'St .... do ri,i, 11137 .... Can. Pac 6s Bid. .. 12 . . 10 .. 15 . . 45 . . 68 ' .. 4 .. M .. 27 . .379 . .St9 . .80 . .2H2 ..2.10 .. 6li . . 72 .. 12 .. 14 -. 1414 .. 15 .. 14 .. 15 .. 14 .. 17 .. 16 .. 61H .. .. , . . . B4 .. 11514 .. US' .. 814 .. Ask. 14 14 17 52 60 50 70 28 91 81 72 305 71 68 74 131, 15 16 18 17 17 1614 19 IS 61 8114 81 V, , 96 8014 87 cuoted is the equivalent In United States I I.lbby, McNeil Libby 12H I Vutinnal Iaathar 84k dollars: Foreign Exchange. Foreirn exchanze rates at close of bus! na vojirentuv fitrniuhaH Kv 'nrrhlvesur. Swift & Co. National bank of Portland. The amount Swift Intf rnntionl 'Country. Foreign unit. Austria, Kronen Belgium, francs HulKaria. leva Csecho-Slovakia. kronen Denmark, kroner Kngland, pound sterling Finland, flnmark France, francs Gtimany. marks Greece, drachmas Holland, guilders Hunuary, kronen Italy, lire Jugo-Slavia, kronen Norway, kroner Portugal, escudos Houmania, lei Serbia, dinara Spain, pesetas Sweden, kroner Switzerland, franca China Hongkong, local currency ., Shanghai, taels Japan, yen NEW YORK, Feb. 2. Exchange strong. c..lT.. rt.rr.anrt 13 84: cables. 53.851S; fr.nn. demand. 7.20: cables, 7.22. Belgian . u riomonH 7 55: cables. 7.57: guild' ers demand, 33.80; cables, 33.90; lire, de mand 3.63; cables, 3.67; marks, aemana. 161: cables. 1.62; Greece, demand. 7.30; ,'..nniin. riAmnd. 35.37: Brazilian, de mand, 15.25; Montreal. WH per tent dis count. Swift Co. Stocks. Olosine prices for Swift Co. stocks at Chicago were reported by the Overbeck & Cooke company of Porllana as lollews. .. I". 274 Rate. . .035 . .0705 . .0145 . .013 . .l!tl0 . S.8000 . .080 . .0732 . .0172 . .0754 . .3413 . .0"27 . .0374 . .0080 . .1013 . .1160 . .0155 . .0305 . .1424 . .2S . 4623 . .6100 . .6750 Rational Ivsathar Cotton Market. NEW YORK. Feb. 2. Cotton Spot quiet; middling, 14.15c. Read The Orearonian classlflsd ads. Pried Fruit at New York. NEW YORK, Feb. 2. Evaporated ap ples quiet Prunes inactive. Peaches dull. Dulnth Unseed Market. DULUTH, Minn., Feb. 2. Linseed, on track and to arrive, $1 71. finiiniiiMirji CITY OF ENTERPRISE, ORE. 6 General Obligation Imp. Bonds. PRICK Dated Jan. 1, 1921 99.00 6.14 to 7.20 DKXOM. $;oo Due Jan. 1. 1921 to 1931 Ralph Schneeldck.Co. KUNICmU AND CORPORATION flNANH UJMBCRMCNB BUILOINO POHTUMD. 0HBXM. State of Oregon GENERAL OBLIGATION HIGH WAY BONDS Dated Jan. 1, 1921 Due Serially 1926 to 1945 PRICE TO NET FROM t 5.10 to 5.50 According to Maturity Denomination $1000-$500 State of Washington GENERAL OBLIGATION BONDS (Payment Soldier Bonuses) Dated Feb. 1, 1921 Optional Feb. 1, 1931 Due Feb. 1. 1941 PRICE 102.70 TO NET 5.15 to optional date 5.50 thereafter Denomination $1000-$500 We Own and Offer Our Unsold Participation in $3,000,000 PORTLAND FLOURING MILLS CO. First Mortgage 8 Fifteen-Year Sinking Fund Gold Bonds Dated February 1, 1921 Due February 1, 1936 Callable as a whole or in part on any interest date upon thirty days' notice at 105 and interest. Complete Details' Upon Request Price 100 and Accrued Interest Carstens & Earles. Incorporated Sam Francisco Los Angeles Established 1S1. Government, Municipal and Corporation Bonds. L. 8. National Hank Bids. Portland. Oregea, Broadway 4108. 8eattl Spokane If sixty - one yrnra of continuous service as a financial Institution means anything; to you as a bond buyer, then the Ladd A Tllton bank recom eaeada itMelf to the careful investor. We offer for investment our allotment in a new local issue of $S00,000 PortlandGas and Coke Co, 7 Per Cent Gold Bonds Dated January 1. 1021 Due Janawr I, 1940 Penominatlona $1000 The bonds are eecured by a freneral Hen on all property of the company and additionally secured by the deposit with the Trustees of an equal prin. cipal amount of the company's first and refunding mortgage 5 bonds. ... These bonds present an exceptional Investment opportunity in one of 'our most essential utilities. The Portland Gas & Coke Co. is a permanently established and arowinfr concern, and w recom mend these securities as a conservative and attractive-investment. Fall dftaiia on request PRICE 5 AA'rf IXTEHEST. II - Yielding j Oldest in th e f J! Northwest i3f m WASHINGTON AT THIRD 1- We offer our allotment of the Danish Consolidated Municipal 25-Year B Sinking Fund External Gold Bonds (Payment Guaranteed by the Kingdom of Denmark) Dated February 1, 1921. Due February 1, 1946. Redeemable at 107 H after February 1, 1931. Price: 98 and Interest to Yield Over 8' f. . pe ve re a ux 5jQ m p any 87 Sixth Street INVESTMENT BONDS Broadway 1042 PORTLAND. OREGON ' , City of Vancouve r British Columbia Due Feb. 1, 1923 412's at 93.41 to yield 8 Tax Exempt in Canada Ask for Details p SMITH souse fvoo CAMP Uhuimim UlUHMa FtrrH and arana CO. 740 Wanted Salesmen who are now taking orders for Tailored Clothes, to rep resent a large Northwest Tailoring House estab lished S3 years. Means a l I C K K K UKRVH'K JIOKH CIISTOMUHS anil MOKU SIOMiV 1'OR VOL. Address: House of Irving 113 Columbia St., Seattle, , lanftWaantWaanWhe HERRIN & RHODES, INC. Railway Kxchaufto Bids, Mala 83 EatabLUhed 1890. Seattle. Portland, Xaooam. Fasi pvlvat duplex wlra coast ' to oaat. Btoclca, Buuda, Oralo, Cotton, Foreign aUchanga. ALL MARKETABLE SECCRITHCH. Members Cblcairo Board of Trade. CorieapoDdouta a. V. Uutton 4k Co. Hrmbera Maw York Stock fcxehanre. Niw York Cotton Exchange. New Orleans Cotton Kxchapce. LIBERTY AISU VICTORY BONUS. Headquarters for buying and selllog all iiwues Large or small lota. Phone your want ads to Th-t Ore- gQniga. Main 7070, Automatic 560-94.