21
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