Morning Oregonian. (Portland, Or.) 1861-1937, March 08, 1921, Image 21

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Morning Oregonian., March 08, 1921, Page 21, Image 21

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Newspaper Page Text21 TITE MORNING OREGONIAN, TUESDAY, 3IAECII 8, 1921 TIFF Oil HOPS IS WArJTEDBYGROWER Competition With Cheap Im ports From Europe Feared. . CLEAN PICKING ESSENTIAL California Acreage Is Being Ke dnced; Review of Market Sit uation on Pacific Coast. In reporting general conditions In the Pacific Coast bop market and noting par ticularly the weakness that has lately de veloped, the executive committee of the California Hop Growers' Association writes: Sales ranging from 18c down to 15c have been made In Orecon. Buyers com plain of dirty picking in that state and Portland and Salem dealers are in turn advising growers on the Importance of clean picking. Unsold. In growers' hands, Orecon and Washington reported about 8500 bales. Santa Rosa reDorts sale of small lot at 16c, understood to be a prime lot. Growers reported to be weakening and many anxious to sell. Unsold stocks. Sonoma and Mendocino, about 12.000 bales. Local market nearly lifeless. One of fer on a carload of choice at 15c Several very weak holders. Unsold in growers' hands is 14.422 bales. The contract market Is without activity all along the Coast. Some movement of English contract 1020 hops from valley warehouses but this movement is gener ally understood to be the customary March shifting. Referring to our previous letter In which we spoke of the "mouth-to-mouth" propa ganda we herewith quote the opinion of a hop grower relative to the condition of the business: "I will cut my acreage at least one Quarter and if conditions don't take a turn for the better, more. I understand the Knglish 1820 crop was all allotted to the English brewers and delivered about the first of the month and 1 am anxious to see if that report means anything. I den't think It does, at least the only ef fect I have been able to notice Is some buying around 15c and 16c, and I can't make any money at those prices. I don't place any hope in hops for 'home brew' purposes. I think that craze is about over, and anyway. If the packages I have bought at the grocery stores are any criterion the packers have educated the home-brewers in the usqj of pretty poor stuff, for the reason, I suppose, that they could buy that class of hops cheap some vhere. And if something isn't done about the duty, and nothing can be done now until the new congress has met, and fought over the new tariff bill until next by the Morchants' Exchange as follows: Wheat. Bar. Fir. Oats. Hay. Portland. Monday 7 1 f Tear ago 34 ... 28 Season to date.. 12. 8U 202 K7 Year ago 6,573 10113121 Tanoma. Sat'day 35 ' ... 6 Year ago 4i ... 12 Season to date.. S.S34 47 712 Year ago 5,7.'li 72 2173 Seattle, .Sat'day. Ill 1 Year ago 27 ... 6 Season to date.. S.O.'.S 1ST 2ft0 Year ago 4.8M) 230 COO 14 19 40S 1839 410 1405 10 1112 153 730 6110 1 12 3 319 1126 6ua lOU'J Small Decrease; In Wheat Visible. The American wheat visible supply statement compares March 7. 1921... March 8, 1920... March 10, 1919... .March 11, 1H1H... March 12. 11)17. ls follows: Bushels. Decrease. 27.H22.onO 41,000 50,168,000 707.000 115.522,000 2,690.000 8.721,000 790,000 43,137.000 1.779,000 The corn visible is 22.741.000 bushels, an Increase of 1,408.000 bushels; oats, 34,210, 000 bushels, an Increase of 88,000 bushels; rye, 1.706.000 bushels, a decrease of 272.- 000 bushels: barley, 2.507,000 bushels, an increase of 1000 bushels. STOCK SELLING HEM EARLY GAINS WIPED OUT WALL STREET MARKET. IN Rcrerso Comes With News of Or ders to Invade Germany; Lib erty Bonds Generally Firm. low, 7 per cent; ruling rate. 7 per cent closing bid, 6 per cent; offered at 7 per cent; last loan, 7 per cent. NEW TORlC March 7. Bar llvr. do mestic, OOtc; foreign, B4c Mexican dollars, 41o- LOSDOM, March 7. Bar allver. 81d per ounce. Money, 5U per cent. Discount rates, short bills. 7 per cent: three months bills, 6 s-lbSjf per cent. Foreign Bonds. Foreign bond quotations furnished by the UverbecK & Cooke company or fontanel: Russian OMa. 1921 Russian Slss, 1926 Russian fifes. 1919 5. French 5s. 1931 Egg Market Is Active. The butter market was steady with a moderate demand for cubes at unchanged prices. Eggs were active at Saturdays quota tions. Receipts were large and readily absorbed and the tone of the market was firm. There were moderate arrivals of poultry and country dressed meats and the de mand in both lines was inclined to be slow. Bank Clearings Bank clearings of the Northwestern cities yesterday were as follows: Clearings nainncps Portland 15.036.4li9 J1.19S.19X Seattle 4.838.791 1.150.1K3 Tacoma 495.049 98.S70 Snokane 1.825.Di5 841, b. 4 PORTLAND MARKET QUOTATIONS. Grain, Flour, Feed, Etc Merchants' Exchange, noon session. -Bid- NEW YORK. March 7. Extensive cov ering by shorts in the early hours of to day's stock market was sharply reversed later, when cables from London indicated a rupture in the Idemnlty negotiatlona Heavy selling came in the last hour, can celing previous gains and effecting many losses. Liquidation for both accounts be came urgent on news that the allied forces had received orders to invade Germany. Rarlv fMHliirp. nf cnmnaratlve strength emoracea oils, snippings, sieeis, eitui- ! j;erlln 4s 13s uittuia, lemuia, imu.i-vub mmu lviiia, IrlamOurg 48 Id well as several obscure specialties. Kails l Hamburg 44s 144 French 4s, 1917 . French 5s, 1920 . Italian 5s. 1018 .. British 5s. 1922 . British 5s. 1927 .. British 5s. 1H29 .. British vky 4s British ref 4s ... British rest 5s . . . Belirium prem 5s German W. L. 5s 11 . 9 . 14 . 55 . 474 . 69 . 2754 .380 .269 .26 . 292 1270 . 67 . 72 12 H were the only laggards. Sales were 4S5.000 Leipsig 4 4s 15 March. .. 1.52 .. 1.50 . . 1.60 .. 1.40 .. 1.40 .. 1.35 Apr! S 1.50 1.50 1.50 1.40 1.40 1.35 85.00 34.00 33 00 81.00 27.00 85 00 34.00 32 50 81.00 27.00 Wheat Harl white Soft white White club ,.: Hard winter Northern spring Red Walla Oats No. 2 white feed .... No. 2 gray , Barley Brewing ...... Standard feed ........ Millrun , Corn- No. 3 E. Y. shipment 81.50 32.00 FLOUR Family patents. $9.80; bakers' hard wheat, 19 50; bakers' bluestem pat ents. $9; valley patents. 17.90; whole wheat. 18 20: graham. 18.05. MILLFEED Prices f. o. D. mill: Mill- run, 3i per ton: roiiea oariey. mo-u; rolled oats. $43; scratch feed, $56 per ton. CORN Whole, $39; cracked. $42 per ton. HAY Buying prices, f. o. b. Portland; I fa I fa. 119 per ton; cheat, $22 iff 23 per ton; clover, $18; valley timothy, $26827; eastern Oregon timothy, $23. Christmas, I don't see how we are going to compete with cheaply grown European hops, even for the trade of the near-beer breweries, who 1 understand moreover eennot possibly use much over 80.000 bales. I feel sure there are a lot of breweries holding stocks of hops right now who believe that the new congress was elected for the special business of seeing that beer Is made March 5. but as far as 1 can find out this new congress ls drier than the present one. I expect a lot of these brewers to go to the near beer brewers and sell their hops tor cheap prices. "I am told by men whom I think are In a position to know that the South Ameri can and Oriental markets we had for hops during the war are already lost to Ger many and 1 don't see how we are going to recover those markets now. The bus! ness was not of large proportions anyway, I don't place any hope, either. In the ability of anyone to convince that Eng llsh hop controller that the embargo should be raised for our benfit, for he ls hired by law to protect the English hop grower, and as long as we are 'dry' and den't allow England to export to us her ales and stouts, I don't see much of chance for dictating anything in that quarter. I think it's a case of a one-man market (London) with the English beer production recovering slowly and until European monies have recovered or new standards for the currency of those hop growing countries are adopted or equal lxed. we are going to be undersold. "For myself 1 prefer to grow less hops this year but try to handle them better. We know England is going to take some hops and I want to have good stuff. Of course. If the drys all move away to Canada or Mexico, and on top of that the English hop crop is a 'failure,' things will be different. 1 don't put much faith in those reported English crop failures, how. ever. They are always In bad shape be fore we pick but after they recover won- uenuuy. Last year we had bad reports out i understand production Increased r.early 40 per cent over 1019 Just the same. Hop growing always was a gamble, but at 14c and 15c a pound I don't like the game as well as I did at 7c and So. hrankly Im a bear on this hop business and 1 will be as long as the United States is dry and production stays near wnai it is now." Dairy and Country Produce. BUTTER Cubes, extras, 42 S 43c; nnts, parchment wrapped in box lots. 48c; cartons. 49c Butterfat, buying price. grade, 45c; B grade, 43c Portland de livery EGGS Buying prices, case count, 27 27 4 c delivered, jobbing prices to retailers, candled ranch. 30c; selects. 3234o. CHEESE Tillamook triplets, price te Jobbers f. o b. Tillamook, 83c: Young Americans, 84c lb. POULTRY Hens, 25iff28c: ducks, 45 50c; geese, 25c; turkeys, live, S5c; do dressed. 45 50c PORK Fancy, 15c per pound. VEAL Fancy, 18c per pound. MUCH FOREIGN BCTTER COMING IN. Shipments Are on Way From Argentina as well As Denmark. Aiier me almost continuous advance since reoruary 10 of about llo averse the eastern butter market got top-heavy and reacted In the past week. There was some skepticism evident when prices went up Dut New York seemed short of fresh butter and buyers were stocking up heav ily to anticipate further advances, .As soon as the market weakened, buying stopped altogether. The majority think the drop is temporary and that the mar ket will steady up around the 50c level. This means retail price under 60c. which Is necessary for continued good consump tion. Except for some 300 casks in on the steamer Stockholm, no new banish butter arrived at New York and old stock has all been cleaned up. The steamer Helig Olav will arrive about March 14 with a cargo of 11,200 casks. The steamer Mongolia is also due shortly with a small cargo and the steamer Oscar II will leave Copen hagen March 10 with a good sized cargo. A steamer from Buenos Aires with 5000 boxes of Argentine butter is due this week. The severe drop in the San Francisco mar ket and further Danish Imports are hav ing a sentimental effect in Chicago. The easy condition at San Francisco rapidly developed into a weak and panicky market in the past week. The total loss for the week on 92 score was approxi mately 14c The heavy drop was caused by a falling oft of outside demand from the south and north, heavy production and the checking of local consumption due to the rise in prices. These conditions re sulted In an accumulation of stocks and dealers were forced to make concessions to move goods. Fraits and Vegetables. FRUITS Navel oranges, $3.0003.50; lercons. 13.254.75; grapefruit. $3.503.50 per box: bananas. ll12o per pound; ap ples, $13.50 per box. VEGETABLES Cabbage, 23c per pound; lettuce, $3.75 per crate; carrots. $1.25 sack; garlic 15fji20c pound: beets, $1.50 per' sack: cauliflower, $2 2.25 per crate; celery, $5.256 per crate; green peppers 30fi'40c per pound: rhubarb. 174 20c pound; spinach, $11.50 per box; turnips. $21?'2.25 per sack; sprouts. 200 pound; tomatoes, $5 per lug; cucumbera, $34 per dozen; peas, 20c pound, aspara gus. 40c pound. . POTATOES Oregon. $11.25 per lot pounds; Yakima. $1.752; sweet potatoes, 3.75 per hamper. ONIONS Oregon. $11.50 per sack. shares. Domestic developments over the week end ranged from good to bad. The strong er position of the federal reserve banks was largely neutralized by January re turns of some more important railway companies, nearly all of which disclosed heavy losses. Western and southwestern points re- Dorted further contraction of business, de sDlte lower commodity prices. Eastbound railroad traffic Is decidedly under that of last year. Call money was In free supply at 7 per cent, but time accommodations dimin' lshed. - Leading foreign exchange rates were in nowise effected by the reparations con ference. Most International bonds held steady to firm, but domestic rails snd industrials eased. Liberty bonds, the 8 4s again ex cepted, were moderately better. Total sales, par value, $9,875,000. CLnsivn nmvv orarrTATIONS. uaiti. Sales, Bug 8"0 Am Beet American Can A H A L. pfd Am Inter Corp Ajnericn Loco Am Sm Rfg Amercn Supar Am Sum Tnb Am Tel Tel Amer Woolen Am Z. Ld & S Anaconda Cop Atchison At. Uf & W I 4 Baldwin Loco. Balti & Ohio Beth Stl "B Calif Pertolem Canad Pacific Centrl Leather 1.5M) 21 M 2..SOO 1.3O0 1.000 1.800 2.3O0 5.4IK) 6,200 100 1.700 l.ooo loo 9. 7'M) I.2UO 6.000 ' 1,,-iOU 3.500 1.600 Staple Groceries. Local Jobbing quotations: SUGAR (sack basis) Cane granulated, Bc per pound; beet, 8.65c per pound. NUTS Walnuts, 15r28c; Brasll nuts 84c; filberts, 1521c: almonds. 28 30c; peanuts. 10c per pound; cocoanuts, $2 per dozen: pecans. 23c; hickory nuts, 164c pound. HONEY Comb, $7.75 per- case. RICE Blue Rose. 9 4c per pound; Ja oan style. 74c per pound. BEANS Small white, 6c; large white. Be per pound. COFFEE Roasted, bulk, drums, J436o per pound. SALT Granulated, bale. $3 5004.25 half ground ton, 50c, $19.75; 100a $18.25 lump rock, $26 DRIED FRUITS Italian prunes. 74c pound: dstes, $3.5&7 per box; figs, $2$? 4.75 per oox. Provisions. HAMS All sizes. 30 iff 33c; skinned, 269 S2c: picnics, -lo, BACON Fancy. 4049o; choice, 809 84c; standard. 26 28c LARD Pure, tierces, 19o pound: com pound, tierces, 134c DRY SALT Backs, 21 24c; plates. 18a 6c: pink, 74c; lima, 10c bayou. 124c: red. 7 40 per pound. Wool, Bops. Etc WOOL Oregon, clean basis, fine, 70c: half blood. 65c; throe-eighths. 50c; quar ter-blood. 40645c. HIDES AND FELT8 Nominal. TALLOW No. 1. 6c: No. 2. 4c pound. CASCARA BARK 1920 peel, 8c pound. HbPS 1920 crop, 1015o per pound. MOHAIR Nominal. GRAIN BAGS Carlots. 7c. coast. Oils. LINSEED OIL Raw, In barrels, 99c; a-gallon cans, $1.14. Boiled, In barrels, $1.01; 6-gallon cans, $1.16. TURPENTINE! In drums, 99c; 5-gallon cans. $1.14. COAL OIL Tank wagons and Iron barrels. !74c; cases. 8037c GASOLINE Tank wagons and Iron barrels, 30c; cases, 424c Metal Market NEW YORK, March 7. Copper steadv. Electrolytic, spot and March 1234 &12V; second quarter. 12913. Iron nominal. No. 1 Northern $30.00: No. 2 Northern, $29.00; No. 2 Southern. $27.00. Antimony spot o..utfl-'Jo. Lead DulL Spot 4c. Tin Easy. Spot and nearby 28.50c: futures 29.50c. Zinc Steady. East St. Louis, spot 4. 75 & 4.87c C'hand Motors 15. 7"0 Cheap Ohio l.uOO Ohl. M & St P Chi & N W.. Chi, R 1 & f Chino Copper Colo Fl & irn Corn Products Crucible Steel Cuba Cne Bug Erie GenrI Electric Generl Motors 13,700 Gt North, pfd 1.400 Illinois Centrl Insprn Copper It Me Ma. pfd Internl Nickel Internal Paper K C Southern Kenne Copper Louis & Nash Mexi Petrolem 20.6O0 Miami Copper UHl Mid states Oil l.!HM) Mldvaie Steel 10.90U Missouri Pacif l.o0 Nevada Coppr N Y. N H & H Norfk West N'orthn Pacific Ok Prd & Hfg Pac Tel & Tel Pan-Am Petri Pennsylvania.. Pitts & W Va Kay Con cop Reading Rep Irn & Stl Ryl Dtch. N Y Shat Ariz Cop Shell Tr & Td Sin Oil & Rfg Southn Pacific .Southn Railwy S O. N J. pfd 2.4'K 1O0 2,9') a. mi 1 00 2.2K) 3. 500 1,200 200 1,000 300 1,200 5O0 400 tioo 3.40 l.oo 1SOO 5O0 1.6O0 1.O00 1.1HI0 yoo 100 2.000 O.IOO 1.2-O0 2.5O0 4.S0O 000 B.loo 11 M) loo 4.100 3.000 1.5O0 5O0 Studebkr Corp 14.o0 Texas Co Texas & Pacif Too ProducLS Transcontl Oil Union Pacific U S Fd Pdts U S Ind Alio U S Rtl Stores U S Rubber.. U S Steel U S Steel, pfd Utah Copper. Westrn Union West Electric Willys - Over 4,900 400 4,000 1.300 1.2O0 - 121 4 22 Vi 69 High. 45 4 21" 4.5 4 4-5 7 86 414 93 4 87 102 er.4 84 3S4 82)4 44, o 84 4 58 39 1144 39 724 ' 60 57 27 H 21 20 4 72 "4 K.T4 244 13 Vi 133 4 13H 75 4 8S 33 52 4 1.114 0614 24 1714 100 158 "4 18 4 13 4 31 19 10 . 19 100 4 81 34 40 75 4 SSI, 28 4 124 70S 67 44 62 64 40 2314 774 21 T lo674 01 4 41 74 84 Dried Fruit at New York. NEW YORK. March 7. Evaporated ap ples scarce; California, S&'Sc; state. 6413c. Prunes easy. California, 4 17 4c; Ore- gons. SSfl&c. Peaches nun. Htandard, 154c; choice. ISc; fancy, 19214c. ALL WHEAT BIDS ARE REDUCED Traders Inactive, Awaiting Farm Reserve Report Today. Wheat markets were weak at all points yesterday. Bids at the local exchange ranged from 2 to 5 cents lower than Sat urday. Pending the publication of the government report on farm reserves, to be Issued this afternoon, the disposition Id all quarters was to go slow. The coarse grain trade was also quiet. Gray oats were $1 lower and March corn declined 60 cents. Other bids were unchanged-Terminal receipts, la cars, were reported 20 Per Cent Less Tire Cost Figuring- on a basis of 200.000 cars in Washington and an aver age tire upkeep of $100 per car, Washington motorists spend $20, 000,000 annually for rubber tires. It is conceded that 20 per cent is a low estimate of the decreased wear of rubber tires over a resilient, bituminous pavement, as compared to wear over rigid pavement. At this rate If all tires were ued solely on hard surfaced roads a net saving of four jnilllon dollars a year for Washington motorists would re sult through the use of the re silient type of pavement known as WARRENITE BITULITHIC 2. loo SOO 2 6lO 6,100 6S4 10,300 82 4 O0 1UU94 l.oOO 51 3oO 87 1.1SOO 48 l.ioo 754 BONDS. C S 2s reg...1004INor Pac 4s U S 4s reg 104 INor Pac 3s U S cv 4a cou. . .'lOSiPac T & T 5a. Am T & T cv 6s.064IPenn con 44s Atchen gen 4s. 77 4ISou Pac sc 5s. D & RO con 4s. 63?Sou Ry 6s N Y Cen debUs. eaftlUn Pac 4s U S Steel 5s. . , Low. 44 28 414 44 8.-4 40 914 85 1014 G3 84 88 S1H 3114 88 33 4 57 3S4 1134 SS 70 50 4 26 67 26 214 29 4 714 92 4 23 134 132 4 13 4 74 4 884 33 4 514 15 4 . 44 22 4 174 1(8) 155 4 184 13 30 184 10 194 98 SO 3 404 74 88 28 11 72 06 604 6 40 224 754 21 106 ;.4 414 224 53 84 120 21 684 63 67 4 Sl 109 4 40 4 86 . 40-4 74 Sale. 44 20 414 444 86 404 914 85 lol 4 644 84 38 824 40 88 33 57 34 113 4 3S 71 50 26 67 26 T4 21 4 29 4 71 92 23 13 4 133 4 13 74 4 88 S3 4 514 154 64 4 22 4 17 100 155 18 4 134 80 184 10 14 98 SO 3 404 74 4 38 4 28 11 73 4 66 60 6 40 22 75 21 106 4 0O 41 22 4 53 4 8 120 224 684 53 4 67 81 100 4i4 86 ! 47 7tt , 75 53 83 88 4 94 V 67 80 . 94 Ask. 14 11 IS 664 48 70 4 28 392 281 278 304 282 69 74 13 4 144 164 154 104 174 164 19 174 64 4 824 82 96 4 99 95 88 85 Leipsig 5s ................... 16 Munich 4s 15 Munich 5s 1714 Frankfort 4s 18 Jap 4s 63 Jap 1st 44s 82 Jap 2d 44s 82 Paris sixes 95 U K 6 4s. 1921 98 U K 5 4s, 1922 ,94 4 U K S4s. 1929 884 U K 6 4s. 1937 85 Foreign Exchange. Foreign exchange rates at close of busi ness yesterday, furnished by Northwestern National bank of Portland. The amount quoted is the equivalent of the foreign unit in United States funds: Country, foreign unit. Rate. Austria, kronen .......$ .0026 Belgium, francs 0768 Bulgaria. leva 0137 Czecho-Slovakfa. kronen .0138 Denmark, kroner .1678 England, pound sterling 3.9250 Finland, finmark .0304 France, franc .0786 Germany, marks ................. .0171 Greece, drachmas ................ .0764 Holland, guilders 3450 Hungary,' kronen ................. .0028 Italy, lire ,.0376 Jugo-Slavla. kronen '.0074 Norway, kroner 1620 Portugal, escudos 1035 Roumanla, lei , 0148 Serbia, dlnara 0291 Spain, pesetas , 1411 Sweden, kroner .2261 Switzerland, francs 1687 China-Hongkong, local currency... .45,10 Shanghai, taels 6050 Japan, yen .4850 NEW YORK. March 7. Exchange, firm: sterling, demand, $3,90 4: cables, $3,914 Francs, demand. 7.22; cables. 7.24. Belgian francs, demand. 7.54: cables. 7.56. Guild ers, demand, 34.30; cables, 34.40. Lire, de mand, 3.60: cables, 3.71. Marks, demand. 1.65; cables, 1.60. Greece, demand. 7.45. Argentine, demand, 34.75. Brazilian, de niand. 15.62. Montreal. 12 6-16 per cent discount. Bond Department Short Term Gold Bonds To Yield The General Obligations of Canada's Wealthiest City, Per Capita, and British Columbia's Capital.. Victoria Coupon Rate 4 Denomination $1000 Bonds due July, 1923 Price 92.93 I ... .. Bonds due July, 1924 Price 90.21 Yield 8 Bonds due July, 1925 Price 87.40 J iKJ In addition to its importance as a seaport, Victoria is the social and political capital of British Columbia. As the home of western Canada's wealthiest people, it is famous for its many fine estates and the mag nificent government buildings. Its assessed valua tion is over $71,000,000. Population 47,500. Request full information TKUST C0MFAHY Broadway and Oak Swift A Co. Storks. Closing prices for Swift A Co. stocks at Chicago were reported by the Overbeck Cooke company of Portland as follows: Swift & Co 1044 swirt international 25 l.ll'by, McNeil & Llbuy 11 National Leather 84 Rice Association Case Dismissed. SAN FRANCISCO. March 7. An action to dissolve the Pacific Rice Growers' asso ciation for alleged hoarding and to enjoin certain financial institutions rom loaning to the association or its members for the alleged maintenance of such hoards, was dismissed by the United States district court here today because of lack of evl dence. Bid. Boston Mining Stocks. BOSTON, March 7. Closing quotations Allouez 21 Mowhawk 47 Ariz Com 8 4l.orth Butte.... 10 Cal and Ariz .. 46 usceoia l Cal and Hecla.23 Qulncy 39 Centennial .... 94 Superior 3 Copper Range.. ..VjlHup Sc uoston... a East Butte.... 8 4Sliannon ....... 1 Franklin 2 4Hah Con 4 Isle Royalle... 20 IWinona ,.50 Lake Copper .. 24Wolverine 114 Liberty Bond Quotations. NEW YORK, March 7. Liberty bond quotations closed as follows: U S Lib 34s...90.86iU S Lib 3d 454s. 90.28 do 1st 4s 86.901 do 4s 87.14 do 2d 4s 80.82IVIctory 3s 97.48 do 1st 44s. ..87.101 do 4s 97.48 do 2d 4 4s.. .86.901 . Money, (jilver. Etc. NBW YORK, March 7. Prime mercan tile paoer. 7&1K per cent. Time loans, steady, 60 risvs, 90 days and six months. 6 4i'7 per cent. Cs U money, steady; high. 7 per cent ADVERTISE OREGON Simplified Selling D efinite knowledge of your Oregon made commodity on the part of the buying public simplifies the work of the mer chant in selling it, Consumer de mand will oblige the merchant to carry your prod uct in stock. Advertising will create "consumer demand" Hall &. Emory Agency Incorporated Merchandising Counsel and ADVERTISING PORTLAND, OREGON Phone Marshall 220 ADVERTISE OREGON PRODUCTS m . n 1 t A forty-page leXtDOOKOI book crammed full of mfor Wall truet ' mation for the MUM UltbWk 1921 Edition investor and stock trader. McCall & Riley Co., Inc. Copies FREE. Ts'o Obligation. 20 Broad SU Hew York SAN FRANCISCO PRODUCE MARKET rrices Current on Vegetables, Fresh Fruits, Etc., at Bay City. SAN FRANCISCO, March 7. Vegetables Asparagus, 20i30c; eggplant, southern, 5(3loc; squash, Hubbard and marrowfat, 131.25: potatoes, street prices, river ll.75fe2.20 .No. 1, Salinas $2.8.) 3. sweets 176 8. Nancy Hulls S6.507; onions, Aus tralian brown, 75 90c, green 1.251.60 celery 24; garlic 710c: cauliflower 7585c: cabbage lc lb.; bell peppers 8 20c; chile 10rdc; turnips 50o sack; beets 11.25&1.50 sack; parsnips $22.25 sack. carrots 11.25. sack; peas lu14c; rhu barb, Los Angeles, $2.75 3, Alameda 13(9 16c lb.; lettuce Jl.5oml.75 crate; art! chokes 30UOc dozen; spinach J1&2 crate. Poultry Hens 8488c; strictly young roosters 40 to 42c, old 2225c; fryers 50 55c: broilers 65 w 68c; ducks 30 35c; squabs 80S5c; Belgian hares, live, 25 28c: iackrsbblts 3325 dozen: turkeys -a & fi a ft--3 1 311 YIELDING 7 Exempt from Fed eral Income Tax OREGON DRAINAGE BOND Malheur County.Kingman Colony Drainage District Bond bearing 6, matur ing 1926-1939. Ask for complete list . of our "Build Up Oregon" Municipal Bonds at low' prices and high yields. CLARK, KENDALL 4-CO., INC. Fifth and Stark BONDS i City of Astoria 6 Bonds at 99 Call or Phone PPp SMITH CAMP CO. round floor Lumssrmsns Building Fifth snd task B-W.V DTSO dressed fancy, 50 55c, poor quality lower; geese 82 35c. Fruit Oranges, navel 2,4.75; lemons 2(6 3 50; lemonettes SI. 5002; grapefruit 2Q)3.50; tangerines S33.50; apples 11.50 tii: bananas 9 10c; avocadoes S205. Receipts Flour, 80,007 quarters; wheat. B076 centals: barley. 8035 centals; oats. 1640 centals: beans. 8507 sacks; corn, 125 centals: Dotatoes. 5034 sacks; hay, 860 tons; lemons and oranges. 3000 boxes. QUOTATIONS ON DAIRY PRODUCE Marked Prices Ruling on Butter, Cheese and Eggs. SAN FRANCISCO, March 7. Butte! Extras. 43Vic: nrime firsts. 42c Ekes Fresh extras. 87c; extra firsts. , .,,.. dimes, S4c; extra pullets, s2e: undersized. Sic. . -i.u,, lancy, 22c; Tats, firsts, 21c; Young Americas. 30c NEW YORK, March 7. Butter steady; creamery higher than extra, 6314 54c; creamery extras, 5214 53c; creamery firsts, 48 52c Eggs easier; fresh gathered extras, firsts. 36Vi37c; fresh gathered firsts, 34 6 30c. Cheese firm; state, whole milk flats, held specials, 28 20c; state whole milk fiats, fresh specials. 26c. CHICAGO, Marcn 7. Butter higher; creamery, extras, 49c; standards, AHKc. ESgs Higher. Receipts. 16,607 cases; firsts. H4&32c: ordinary firsts, 20 3D lie; at mark, .cases Included, 813114c. SEATTLE. March 7. Eggs Select local ranch, white shells, 8334c; ditto mixed colors, 31c; pullets, 28c Butter City creamery In cubes, 47c; bricks or prints, 48c; country creamery extras, cost to Jobbers in cubes, 44c; stor age, 38c Naval Stores. SAVANNAH, Ga.. March 7. Turpen tine steady, 6414c; no sales; receipts, 20 barrels; shipments, 238- barrels; stock, 11.460 barrels. Rosin quiet: no sales; receipts, 89 bar- rels; shipments, 230 barrels: stock, 75,720 barrels. Quote: B. D, E, F. G, H, I, K. M. N. WG, WW, $11. J. rJSJM-PjSSSV! OJRTH Cr WASHINGTON STKE&TS CeasssvaUv Do your banking at Fourth and Wash ington streets. There is the home of "A Conservative Custodian." Sound Securities of the Northwest Die Yield Portland Gas & Coke Co. 7- First Lien and General Mortgage Gold Bonds Jan. 1, 1940 7.50 Portland Flouring Mills Co. 8 First Mortgage Gold Bonds Feb. 1, 1936 8.00 Pacific Power & Light Co. 8 First Lien and General Mortgage Gold Bonds.. . .Aug. 1, 1930 8.00 These three corporations produce absolute necessities. Their development will go hand in hand with the development of the Pacific northwest. John Moody, the eminent statisti' cian, has rated their securities highly. Let us help you analyze their state ments. Call at our office today. BlythAVitter, &s Co. Ycon Bldg., PORTLAND SEATTLE - SAJI FRANCISCO - LOS ANGELES - NEW YDRJt J INVESTMENTS Owing to the premium at present prevailing on Ameri can funds, Canadian investments net a high yield. Mortgages on improved farm lands yield 8 Canadian Funds Discounting Agreements of Sale net from 10 to 15 Canadian Funds. Farm . Lands Department If you want real money-making farms and ranches, any size, from quarter sections to one hundred thousand acres, irrigated or dry, grain growing or cattle raising, or combination mixed farming with or without improve ments, going concerns, some with land ready for 1921 crop, do not fail to write stating your requirements. Sev eral very desirable farm lands in connection with estates to be disposed of at reduced prices. Correspondence Invited, The Imperial Canadian Trust Company 227 8th Avenue West. Calgary, Canada. Branches Winnipeg, Saskatoon, Regina, Edmonton, Vancouver and Victoria. Investment Securities for March Funds DIFFERENT circumstances call for dif ferent Bonds. You may wish to place your March funds in tax exempt Municipal securities yielding 5.10 to 5.85; or in Bonds paying 8 for two years or twenty five years. The Bonds listed in our current circular are so di . versified as to meet every investment requirement An idea of the range of selection is given by these issues offered with our recommendation: Tsrae Ylrld Kingdom of Denmark, 8s. . . .8.15 Due Oct. 15, 1945 Republic of Chile, 8s. . .8.21 Due Feb. 15, 1941 Danish Consol. Municipal, 8s. . ... . .8.30 Due Feb. 1, 1946 Kingdom of Belgium, Gold 6s.... 8.80 Due Jan. 1, 1925 City of Chicago, Gold 4s 5.63-5.10 Due Jan. 1, 1924-34 Lackawanna Steel Co., 5$. ......... .8.00 Due April 1, 1923 Anaconda Copper Mining Co., 7s.. 8.05 Due Jan. 1, 1929 Pere Marquette Ry., 5s 6.25 Due July 1, 1956 Grand Trunk Ry. of Canada, 6V. .6.95 Due Feb. 1, 1936 Canadian Pac. Ry., 6s. ........... . .7.80 Due Mar. 2, 1924 Consumers Power Co., 1st 5s... ...6.90 Due Jan. 1, 1936 Offered subject to prior sale and change in price. The liberal yields of the above bonds are typical of the more than 60 other issues listed in our March circular, "Investment Securities," which will be sent to you upon request for OR-375. The National City Company National City Bank Building, New York Portland, Yeon Building BONDS Telephone 6072 Main PREFERRED STOCKS ACCEPTANCES Unlimited Sales Limited Credit Losses That is the ideal business combination yon should work toward in 1921. You can concentrate your efforts on the former if you have taken protective measures to in sure the latter. One prominent business man says: "While I have made it a practice to limit my credit risks, I can trace my principal losses to my failure to do so." The American's Unlimited Policy of Credit Insurance limits your credit losses a year in advance. It protects the business you have. It gives you peace of mind a feeling of security and stability enables you to face the future serenely and optimistically. In any emergency of credit accounts there is nothing so strong or so safe as the Amer ican's Policy. Full particulars free to manufacturers and wholesalers. Write or phone today. Payments PtBcjholdert rotr $10, 000, 000. 00 AMERICAN CREDIT- INDEMNITV.Ca Of NEW YORK LM. TREAT, mesidenx IMUU TAMOAXD UNUNITED fOUCICS H. T. MacRILL, GENERAL AGENT Board of Trade Bldg. Phone Main 1179 Portland, Oregon A HIGH-GRADE OREGON INVESTMENT ONE OF OREGON'S BEST COUNTIES. $50,000 WALLOWA COUNTY, OREGON 5 General Obligation Bonds Due seriallj: 1924-6-6-7-5. Prices: 94.60 to 96.88, to yield np to 6 Population 12,000. J Assessed valuation, $16,260,362. Debt, $100,000. Income Tax Exempt I. pevereaux RGmpanfl Investment Bonds 87 Sixth Street, Gronnd Floor Wella-Farff Building:. Broadway 1042. HOTEL HOYT Strictly Fireproof. Nar both depot &nd convenient cr service to all rrts of city. Wnrl Rooma Without Bath, SI and no binde Koodi. With Bath, 2 sod up KLBEH.T 8. KOBE. Manager. A REAL HELP to INVESTORS Investor's Pocket Marsh. 272 Pac BookUt UmmmA MwftUy High and low records of 5,000 stocks and bonds and statistical descriptions of 4iM) corporations. Will be famished FRLE hr your own investment Iioum oa request, OR if Dot, we wilt send names of kotisea which will tend tob FREE monthly eni'-i. flKAttttAL FJLKSS. 116 Broad luX, V