Morning Oregonian., March 21, 1921, Page 17, Image 17

TIIE MORNING OREGONIAN, MONDAY, MARCH 21, 1921
17
BUILDING REVIVAL IS
FORECAST FOR YEAR
Steady Growth Looked For
by Banker.
HOMES LEAD MOVEMENT
Surplus Capital of West Said to
lo Turning to Securities of
Stable Utilities,
1 A steady prrowth In the volume of
tiuildnijf during tle coming year is
looked for by Lansing Stout, vice
president of the Hiberuia Commercial
A: Savings bank.
"There is no question." said Mr.
Sout, "that there is a real need for
further housing facilities In Portland.
In response to this need we will see
during 1K21 the erection of many
homes ranging in price from $3000 to
alri0 and a lair number of modern
partn.ents."
Mr. Stout does not look for much
activity in down-town building. The
funds that are available will largely
he concentrated on dwelling projects.
"The people who are planning to
own their own homes have, as a rule,
more money accumulated with which
to start the Investment than has
been the case during any former
period of building activity," said Mr.
fctout. "Wot all of the high wages of
the war period were spent, but In
stead, many people added to their
savings with the idea of building as
toon as prices appeared reasonable.
Building operations of this class are
usually financed by first and second
mortgages. The first mortgage is
secured from insurance or mortgage
companies, while the second is held
by the builder."
The west has now become a wealth
producing region with surplus capi
tal. The necessity of corporate or
ganization in order to supply the pres
ent n-eds of large-scale development
has made it necessary to sell securi
ties generally among the investing
public in order to obtain sufficient
capital. Therefore, it has been in
cumbent upon companies selling se
curities to educate the investor as to
the nature of securities and their de
sirability and safety as a means for
investment.
The securities of public service
companies are becoming more attrac
tive ai an investment because of the
fact that the investing public has
come to appreciate that these securi
ties ere no longer the speculative
flotations of the adventurous pro
motor and the frenzied financier in a
new industry of doubtful experiments
and unknown possibilities, but rather
the securities of an industry well es
tablished, supplying essential needs,
financed strictly on an investment
and not a speculative basis and oper
ating under laws that afford reason
able assurance of protection under
regulation.
The 1'ortland Gas & Coke company
Is the pioneer in this city in Inducing
Investment in its securities by those
whom it serves. Tile Portland Kail
way, I ight & Power company has re
cently followed with the financing of
a million-dollar note issue, which has
been 'old to its employes, patrons and
the public The Gas company for
some time past has been selling its
7 per cent preferred stock and there
by obtaining some part of its money
and at this time is giving particular
attention to increasing the sale of its
stock so as to assist in providing
monev to take care of urgently need
ed improvements and extensions to its
service.
Almost 11.600,00 has been provided
to (late from 1200 residents in Port
land and immediate vicinity . and In
addition 12 ID shares have been pur
chased by 217 employes. In the year
1920 3534 shares were sold to 701 in
vestors. In 1!19 there were 2228
shares sold to 248. This shows a sub
stantial increase in the number of
sales and the number of shares for
the ye-r 1920. as compared with the
year 1919. This record is evidence
of the confidence of the local invest
ing public in the company's ability to
meet its obligations and the stability
of its business.
Captain F. M. Blankenship of the
bond department of the Lumbermen's
Trust company has just returned to
Portland after a trip which took him
to 1 nver, St. Louis. Chicago, Mil
waukee and St. Paul. He reports
there is a good volume of business in
standard bonds with an upward price
tendency already manifested.
While la the east Captain Blanken
ship gave considerable study to the
bond market as it affects western se
curities and he reports that there will
be a strong interest in Pacific coast
bonds just as soon as the general rate
of eastern securities declines. One of
the stumbling-blocks for the Imme
diate sale of Oregon state and county
bonds in the east is the law that
limits- the rate of interest to 6 per
cent.
"In Milwaukee," he said, "the large
bond dealers told me that Wisconsin
was in the same positon as Oregon
In this regard. The state recently,
however, changed the law to allow an
Interest yield of 6 per cent with a
result that there has been a large
sale of "Wisconsin state and county
bonds and now large forces of men
are being employed in needed im
provements. Kastern bond dealers
told me that It would be easy to float
Oregon state and county bonds, if
the same action were taken in the
west.
"General business conditions are
slowly improving. In Chicago the
large bond distributors are optimistic.
They do not look for larger volume of
pales this year as compared to last.
They report there Is a big market
for drainage bonds issued by Missis
sippi valley districts where the people
have been educated to the value and
stability of such issues. Dealers in
Denver, Chicago, Milwaukee and St.
Louis all report that the volume of
bond sales is good, but the average
sale is small; in other words the
smaller investor is coming into the
market in increased numbers. Condi
tions arising from after-the-war re
adjustment are being; accepted as
something that was inevitable. Every
financial man that I met, however,
empnaticilly stated he considered
business depression as merely transi
tory and that there, was absolutely
no ground to consider the situation as
lasting."
Lower rents are Imperative If re
adjustment is to be hastened, accord
ing to an editorial In the W. J. Woll
man & Company (New York) review
cf financial conditions, which says:
"One of the chief stumbling-blocks
In the path of readjustment Is the
continuance of high rents, especially
for houses and tenements of the type
used by workmen and their families.
The drain upon the Income of th
average wage earner for this Item
has furnished the chief argument
against wage reductions and a con
fcequent lowering of the cost of pro
duction. Wholesale food prices have
declined, retail prices are coming
down, clothing is cheaper, and we are
in sight of more reasonable prices for
fuel. Of r.U the items in the average
household budget, the one which
shows the strongest resistance to de
cline is that of rent. It absorbs an
undue proportion of the pay envelope.
"Manifestly we cannot expect wage
revisions and other steps In readjust
ment to proceed with desirable rapid
ity so Ion? as shelter absorbs such a
large percentage of the workmen's
Income. lawa againse rent profiteer
ing are likely to produce disappoint
ingly sma.l results so long as the de
mand for housing exceeds the supply.
The most urgent problem of the day
Is the correction of this evil through
the construction of more houses and
apartments that can be rented on a
basis in keeping with the manual
worker's ability to pay. Building
materials have fallen sharply in price,
and the wealthy can devote their
capital to no higher type of public
service than to construction work of
this character. The Investment will
be safe, the return will be ample and
the benefits to the community incal
culable." C. B. Sewall, cashier of the Hfber
nia bank, has Just returned from a
trip through the south, during which
he experienced the thrill of seeing a
real, live oil boom at Duncan, Texas,
100 miles from Fort Worth, to which
frienCs took him in an automobile
purely for the sport of the thing. It
was a typical little oil town, with
excitement running high, as big oil
wells had just been discovered. Mr.
Sewall visited also in New Orleans.
He saw much cotton unpicked be
cause of Its low value. In Fort Worth,
he said, there Is more construction of
business buildings than anywhere
else he visited.
After a considerable absence from
his desk, E. G. Crawford, first vice
president of the United States Na
tional bank, put in an appearance
during the week. He has been 111 with
a nervous disorder. It will be some
time before he will be able to take
full charge of his duties.
At the annual meeting of stock
holders of the Oregon Surety & Casu
.. i . nnn i , wsoir in the head
quarters, Board of Trade building, the
following officers ana aireuiurs weio
. i ... . DL.iar,, ri m Clark: vice-
presidents. Andrew C. Smith, H. L.
Corbett, R. W. Wilbur and H. B.
Beckett; secretary. S. S. Montague; di
rectors, John F. O'Shca, A. M. Smith,
C C Woodcock, Fred Ballin, C. H.
w..in r p .Tsieirer. P. M. Dooley
and H.' A. Whitney; assistant secre
tary, L. M. Koon.
rru T.nAA nnA Tllfnfl bank now has
a supply of the traffic ordinances of
ii .i a nthiti v,,u, hut rdeentlv
been compiled by the city authorities,
and any v ho wish a copy may ouiam
B.ime there. This bank publishes the
ordinances in book form as a con
venience to the puDiic.
ALBAXY BAXK PICKS CASHIER
Ralph E. McKechnie Succeeds J. C.
Irving, 'Who iRcsigns,
ALBANY, Or., March 20. (Special.)
-Ralph E. McKechnie has been elect
ed cashier of the First National bank
if Albany and the First Savings bank
if Albany to succed J. C. Irvine, who
,,ohocAH an Interest in the
First National bank of Lebanon and
as become cashier of that institu
tion.
w. iLfn ir a entered the service
of the First National bank in 1899
and has been employed in that in
stitution ever since. He has been
assistant cashier for the past several
years. To fill the vacancy caused by
the advancement of Mr. McKechnie
to the position of cashier. Rex W.
Davis of Harrisburg, prominent busi
ness man of the southern part of
Linn county for the past several
years, has been named an assistant
cashier of the bank.
PRIXEVILLE GETS EW BANK
John I. Karnopp of Portland Is
Promoter of Institution.
PRIXEVILLE, Or., March 20. (Spe
cial.) John L. Karnopp of Portland
has been in the city the past week
making arrangements for the new
bank which under the articles of in
corporation will be known as the
Bank of Prineville.
According to Mr. Karnopp, no def
inite date for the opening of the in
stitution has been set, but it will be
possibly within the next 30 days.
Company to Increase Capital.
ASTORIA, Or., March 20. (Special.)
The stockholders of the Lower
Columbia Oil & Gas company have
voted to increase the capital stock
of the company from $100,000 to
$250,000, but the directors announced
at the meeting that permission would
be asked to sell only $50,000 of the
new issue. The drill at the com
pany's well has reached a depth of
more than 1300 feet and Is working
in a shale, which carries such a sat
uration of oil that a sample has been
sent to the geological department of
the University of California to be
tested. There was quite an escape
of gas from the well, the first no
ticed since the 20-foot oil sand was
struck at the 600-foot depth.
Jlecelver Tiles Fina'l Report.
CENTRALTA, Wash., March 20.
(Special.) John Galvin,. receiver of
the Union Loan & Trust company, has
filed his final report in the Lewis
county superior court, together with
a petition that he be permitted to pay
a final dividend and be discharged.
A hearing on the report and petition
will be held on April 13. Eighty per
cent in dividends have been received
by the depositors since the institu
tion closed its doors in September,
1914.
Baker Bank Cashier Resigns.
BAKER. Or., March 20. (Special.)
Lewis Fernald, assistant cashier of
the Citizens National bank of this
city, has resigned. He stated that as
yet he had made no plans for the fu
ture but that it was possible that he
will leave Baker.
SOIL SURVEYS MAD
E
BY OREGON EXPERTS
State College Tests Earths
of Half Valley District.
FEDERAL BUREAU HELPS
INTERESTJJECLARED.
To the holders of the General Lien
and Income bonds of the North Coast
Power company 3 per cent Interest on
the above bonds has been declared
and is payable at the Commercial
Trust company, Philadelphia, on April
1, 1921, upon surrender of tne April 1,
1921, coupon, and all coupons having
prior maturitiesi.
B. F. DONAHUE,
Adv. Treasurer.
Beats Carpoi?
Who wou&Tnt
think io look
under iba ru
Ofo" United" States
! National Bank.
wSlxth and Starli Streets.
Field Fertilizer Trials Also Arc
Being Carried On by Experi
ment Station.
OREGON AGRICULTURAL COL
LEGE, Corvallis, March 20. (Spe
cial.) Detailed soil surveys have
now been made of about one-half
the entire Willamette valley by the
soils department of the state college
experiment station in co-operation
with the federal bureau of soils.
Official samples of each type of soil
manned have been collected for cnem
ical analysis. The results of the
analysis will be recorded at tne sta
tion, and may be used by farmers
in determining the soil needs, adapt
ability to certain crops and the most
profitable type of agriculture.
Field fertilizer trials are also being
carried out as far as funds permit
on the chief soil types. Greenhouse
pot tests should be made on minor
types. These experiments should
lead to a perfected system of soil
management, said W. L. Powers,
chief of soils at the station.
"Additional field fertilizer trials
should be arranged on the chief soil
types on a fairly permanent basis."
he declared. "It is a fundamental
necessity that a perfected system of
soil management be developed before
the virgin soil fertility is exhausted.
The city as well as the country is
concerned, because the soil is the
basic source of all wealth, and when
it fails the city is the first to feel
the country's poverty."
It will be necessary to slow down
the co-operative soil surveys from
two counties a year to one a year
because of increased cost without
increase of funds. The department
is, however, extending and renewing
fertilizer trials on the chief soil
types of the Willamette valley to
determine soil needs and profitable
use of fertilizers on leading soils.
Two new systematic fertility trials
have been started this month. One
is on leveed river bottom land,
classed as Chehalis sandy loam, east
of Corvallis. The other Is a trial
with hill lands northwest of Albany
on the farm of Alfred Abraham, the
soil being mapped as Carlton.
SEED IS LIKED
IDAIIO IMPORT 9 CLOVERS
FROM WILLAMETTE VALLEY.
Strict Law Bars Shipments That
Include 2 8 Xoxiou9 Weed9
to Every Pound.
OREGON AGRICULTURAL COL
LEGE, Corvallist Or., March 20.
(Special.) Some movement of red
and alsike clover seed grown in west
ern Oregon into Idaho markets is re
ported this year.
"The fine, plump, disease-reslstent
seed produced in this district proves
especially attractive because of its
freedom from dodder," says G. R.
Hyslop, chief of farm crops at the
experiment station. "Nevertheless
the Idaho seed law Is exceedingly
strict on a number of weeds not con
sidered noxious in Oregon, and all
consignments should be sampled care
fully for tests by the co-operative
seed-testing laboratory at the col
lege previous to shipment."
The Willamette valley seed is not
likely to be held up because of quack
grass, Canada thistle, wild oats, corn
cockle, perennial sow thistle, poverty
weed, French weed, night-flowering
catchfly, white champion, hoary cress
or blue lettuce, but some shipments
have been held up, as others are
likely to be, because of the presence
of buskhorn or bracted plantain.
The Idaho law permits no more
than 28 noxious seeds to the pound of
red clover of No. 3 grade a very
strict ruling and one likely to keep
much good seed out -of the state.
Farmers and seedsmen wanting cop
ies of this law may get them from
the college experiment station, Cor
vallis, Or.
MOHAIR SLIGHTED IXDCSTRY
G rowing Goats id Lincoln County
Offers Great Possibilities.
K--CTtTT5rTyrTi ' II V. OA f c
iM. t i l , Aiaii:ii .v. lope"
clal.) A neglected industry offering
unlimited possibilities in Lincoln
county is the growing of goats for
mohair. The burned area covering
h t n H n rt ,n 113 fa ml.. h.ini, nrall
watered and covered with ferns,
grass and sallal, is just waiting for
a man with a flock of goats.
Mieep inium ito oe raicea Due ine
Next to
Municipal Bonds
those of established Electric Light
and Power Companies are sur
rounded with more fundamental in
vestment protection than any other
class of security. ' The owners of
sound and properly safeguarded
utility bonds are .practically sure of
the security of their investment even
under the most adverse business
conditions.
Our unbiased report system and
quotation service enable the in
vestor to make a wise selection. This
service is available coupled with our
recommendations based upon in
tensive examinations of this type of
investments. We solicit your inquiry.
G.E.MILLER
& COMPANY
GOVERNMENT
MUNICIPAL
COBPORATION
BONDS
TELEPHONE MAIN -4-195
10 4 5-6 NorthwGstGrnlDank Building
PORTUAND.OHEGON
sallal and ferns are Jnst -waiting for
goats to clear the land. A man
might either buy a few acres or lease
some land -for headquarters and then
his herd might roam for miles on
hindered as there are scarcely any
tenced places.
Any prospective goat raiser should
not Introduce thoroughbred curly
haired goats or sheep. The rain
seems to trickle in and is injurious,
killing many; but the straight-haired
Shropshire and other common varieties
of sheep and goats selected similarly
do well, the water draining off.
Goats which produce on an average
of three pounds of wool in the Will
amette valley will produce five and
six pounds in Lincoln county.
BROCCOLI TO BE INTRODUCED
Coos County Will Make Exhaust
ive Study of Cultivation.
MARSHTIELD, Or., March 20.
(Special.) Moved by the reports of
profitable returns from broccoli com
ing from Douglas county from year
to year. Coos county is to have an
exhaustive test of broccoli culture in
a neighborhood adjacent to Myrtle
I-'oint. C. A. Farr, county agent, and
an expert from the agricultural col
lege will supervise the planning, cul
ture and sale of four acres.
It was believed broccoli could be
made a paying crop in certain parts
of this county.
E
F ARM MECHANICS EXPERT HAS
WORD OP CATJTIOX.
Complete Overhauling of Machines
Is Essential Before Spring
Work Is Started.
The Importance of giving a tractor
a complete overhauling before taking
it out for the spring work is empha
sized by R. E. King, instructor in
farm mechanics at the Oregon Agri
cultural college:
"Tractor operators who are most
successful never take their tractors
out in the spring until the engine has
been overhauled completely," he said.
"It is well to have this done by an ex
pert tractor mechanic The valves
must be ground, the bearings taken
up, and new grease and oil put in."
Ten tractors belonging to local
farmers were put into shape during
the last two months by students in
farm mechanics, under the direction
of Mr. King. These machines are now
ready for any work that these owners
may need done.
"Mechanics unskilled in tractor
work should not be relied upon for
repairing and operating jobs, for the
average life and efficiency of tractors
have been lowered by ordinary men
in their attempts at keeping up the
machines," says Mr. King.
Kfficiency of the farm tractor is
much nearer 100 per cent than it was
a few years ago. according to Mr.
King. And he attributes the rise to
the fact that farmers are learning
tractor motors, and that trade schools
are turning out men competent to
handle tractors. Farmers are learn
ing the advantage of hiring these
graduates.
The average farmer is unable to de
tect when engine trouble exists, and
even if he could, the practical train
ing, which enables him to give a
horse treatment when he goes lame,
is of no avail and the tractor needs
more care and grooming than a horse.
Drainage District Being Surveyed.
A preliminary survey is being made
for a 4500-acre drainage district near
St. Helens, in Columbia drainage dis
trict No. 1. This land is mostly in
Sauvies island, in Columbia county,
and includes all of the land from St
Helens to the mouth of Gilbert river.
The soils department of the Oregon
Agricultural College Experiment
station has helped to shape up about
50 drainage systems in the state,
about 12 receiving assistance during
the last year.
YOUTH SHOULD BE TRAINED IN
CONSTRUCTION DETAILS.
Usual Repair Jobs Can Be Done by
Farmers Who Are Given Some
Training at School.
The solution of the farm shop
problem in Oregon may lie in prac
tical teaching of farm shop work
to high school students of agricul
ture, either in the manual training
department or special farm shop, ac
cording to E. D. Doxee, instructor in
agricultural education at the Oregon
Agricultural college. He suggests a
course of instruction based on actual
farm experience and the needs of the
community.
"The interest In farm shop prob
lems in connection with vocational
agriculture in the secondary schools
is becoming widespread," says Mr.
Doxee. "The high schools of Gresham,
Woodburn and Milton have subsidized
their farm shop training under the
Smith-Hughes law. McMinnville,
Union and Redmond high schools,
though not subsidized, are giving
practical instruction in farm prob
lems to their agricultural classes.
"A recent survey of a large num
ber of farms by the rural life de
partment in Pennsylvania shows that
numerous repairs and production of
small articles, with farm shop train
ing, could just as well be done on the
farm, thus saving both time and
money. Numerous practical studies
In wood, concrete and Iron that are
found In use on the average farm,
such as self-feeder boxes, gates, con
crete posts, tanks, welding, various
labor-saving devices and repair Jobs
could be made.
"The aim and purpose of the farm
shop training is to prepare the boy
for repair and construction work as
performed by the more successful
farmers of the community. The aim
is not merely the mastery of tools
and practice problems of joinery, but
production that develops the students'
initiative, the spirit of co-operation,
and to lead them to have a problem
solving attitude that accompanies
planning and executing honest work
that is essential to society at large."
FRUIT IMPROVED BY STORAGE
Expert Says Ventilation Mast Be
Given for Respiration.
"The life period of fruits in general
may be doubled by proper cold stor
age," asserts Henry Hartman, assist
ant professor of pomology at the
Oregon Agricultural college. "The
quality of fruits, with a few excep
tions, is actually improved by proper
cold storage," he says. "This sets
aright the common false notion that
the quality of fruits is injured by
storage.
"Fruits are living organisms ana
must be treated as such while in
storage. They respire in storage
very much as animals do. 'iney take
In oxygen and give off carbon dioxide.
Consequently they must receive ven
tilation while In storage.
"Fresh air must be supplied and
the carbon dioxide driven off. as it
rapidly accumulates as a product of
respiration. The matter of ventila
tion in storage usually does not re
ceive due attention. In some com
mercial storage plants where fruits
are stored, little or no attention is
paid to the matter of ventilation."
H. G. AVERY IS NAMED AGENT
Agricultural Supervision to Be Had
of Union County.
H. G. Avery has been named as ag
ricultural agent of Union county,
Oregon, reports Paul V. Maris, direc
tor of extension at Oregon Agricul
tural college. Mr. Avery was formerly
agricultural agent of Jerome county,
Idaho. He was born and reared on
a Kansas farm and was a student at
the Kansas State Agricultural college
for three years. He is a graduate of
the Albion State normal, Idaho. He
was manager of a 730-acre general
farm in Kansas and filled the position
of county agent in Idaho. The nom
ination of Mr. Avery has been ratified
i by the Union county farm officials.
Another new appointment is tnat oi
Miss Jessie Griswold of Milwaukee,
Wis., as home demonstration agent
for Josephine county. Miss Griswold
took her home economics training at
Milwaukee and later at the Teachers'
college, Columbia university.
BEEF CATTLE WILIj BE SOLD
Coos Farmers to Bay Pure-Bred
Stock From State College.
MAftSHFTELD, Or, March 20.
(Special.) In line with the general
trend In this county for better farm
stock, C. C. Farr, county agent, has
arranged with Oregon Agricultural
college for a public sale of pure-bred
beef cattle at Coquille on March 25.
Professor Oliver of Oregon Agricul
tural college will accompany the car
load, which is all from the college
farm. The stock includes Herefords
and Shorthorns, 12 bulls and six heif
ers, coming 2 years.
This sale will be the first of the
beef strain, but several sales of dairy
cattle of the Holsteln and Jersey
breeds have been held in the last two
years. Most of the animals in the
coming sale were expected to go into
the range districts of the county and
probably into Curry county.
ASPARAGUS WILIi BE TRIED
Klickitat County to Experiment on
Poo rf arm Lands.
GOLDENDALE, Wash.. March 20.
(Special.) Klickitat county will en
gage in the raising of asparagus, ac
cording to James H. Hill, superinten
dent of the recently established Klick
itat county poorfarm, on the Colum
bia river at Cliffs, Wash. Mr. Hill
says that about four acres of highly
productive garden land will be given
over to the raising of asparagus
plants this year.
Mr. Hill says that County Commis
sioner John G. Wyers of Bingen re
ports that Japanese who till his farm
near the latter place cleared $400 an
acre last year raising asparagus. The
experiment will be observed witn
much interest by the taxpayers of
Klickitat county, who will finance the
venture.
g
Our Own Bonds
DENOMINATIONS $100 $300 $1000
Maturities 2 Years 3 Years i Years
Select Denominations and Maturities to
fit your individual requirements.
$150,000 Issue Mortgage Bonds
secured by 95 separate, individual farm
mortgages aggregating $175,000, as
signed to and held by Portland Trust
Company, Trustee. These bonds now
ready for delivery at offices of Portland
Trust Company.
Ask us for circular
Southern Idaho Land & Power Co.
PORTLAND OFFICES 1212 GASCO BLDG.
Phone Marshall 240
TREE PROTECTORS ADVISED
Mechanical Bands to Ward Off At
tacks of Insects Useful.
Mechanical protectors are good on
young trees on new ground, as they
ward off attacks of cut worms, bud
weevils, click beetles and other pests
that prey on opening buds. Protec
tion from ants that carry aphis Into
cherry trees is recommended by the
entomologists of the Oregon Agricul
tural college experiment station.
Cotton batting strips about five
inches wide and long enough to reach
around the tree are indorsed as ex
cellent. Tree tanglefoot Is also rec
ommended. A band three-fourths of
an inch wide is about right. If too
wide the bands will injure the young
trees.
fc Ii ffl.
mmms
II f-"p
Are Foreign
Fields Greener
TTERE are the securi
" ties of a local enter
prise which you have,
watched grow and pros
per a public necessity
as well as utility.
Portland Gas &
Coke Co. First Lien
and Gen. Mtg. Bonds
at 95 to yield 7.50.
Average net earn
ings 2li times the
Interest charges.
Rated 'A' by Moody.
Buy today and profit
for years to come.
CLARK-KENDALL
& CO.. INC.
Firth and Stark Streets
M OOVERnntNT- MUNICI PAt CflRPORMlON'
BONDS
r
ii
OUR BOND DEPARTMENT is
equipped to give the same reliable, effi
cient and courteous service in investment mat
ters, which characterizes the service of every
department of this bank.
Our offerings include the highest type of gov
ernment, municipal and corporation securities.
I'J
B IN THE rB-?l5S''
-tu. Ill
RBEM2fl
vSOTEU
City of
AVE OWN AND OFFER
OREGON AND WASHINGTON
6 County Road Bonds -
Choice issues of general obligation bonds authorized by good agricul
tural counties for the purpose of building good roads.
EXEMPT FROM INCOME TAX.
Price! Par and Interest.
Phone or Call for Details.
Commerce Mortgage Securities Company
Ground Floor Chamber of Commerce BIdXi Ninety-One Third Street.
, Phone i Main 3067.
Portland
10-year 6 Bonds
at 101 to yield about S.80
Income Tax Exempt
FREEMAN,
ami i n
round noo bAMF
Ldrhrmim nuiuome
FlFTM SMS BTAWt
I'M S74e
Co. H
HERRIN & RHODES, Inc.
(Established 1S)
BROKERS
MEMBERS CHICAGO BOARD OF
TRADE.
Correspondents, E. F. HUTTON A
CO. Members New York Stock Ex
change. Pdvate Lrufd Wires
Direct to All Security and Com
modity Markets.
LIBERTY AND VICTORY BONDS
BOUGHT AND SOLD
MAIN 283 and 284
201-3 RAILWAY EACH. BLDG.
"Triple A"
The Highest Credit Rating
Possible
The financial strength and standing of this multi-million-dollar
company is shown by its "AAA" rating the best
that can be given.
Controlled by
The Standard Oil of New Jersey
HumbleOil &RefiningCo.
2-yr. 7
Gold Notes
Price 99 H trCT
.0070
Yield
Den. $1000, $500
LtJMBEKMENS
TfflJST COMPANY
BROADWAY AND OAK
iisiiiipgramBijitiiifl
CONSERVATIVE INVESTORS
KNOW
that the deposit box holding municipal bonds of tho
agricultural communities of the Northwest, is "the box
that produces."
YIELDING:
A dependable interest return.
A dependable principal return.
DEPENDABLE INVESTMENTS
for your deposit box which net from 6 to 8, exempt
from all federal income taxes, are available on our long
list of Oregon, Idaho and Washington municipal bonds.
Details Gladly Supplied Upon Request
ronrD KEELER BROTHERS
DENVER
Investment Securities.
Phone Broadway 5800
UNITED STATES NATIONAL BANK BUILDING
City of Enterprise, Or.
6 General Obligation Imp. Bonds
PRICE
99.00
TO YIELD
6.14
TO
Dated
Jan. 1, 1921
ABOUT
DENOM. $500
Ralph Schneeloch Co
7.20
Due
Jan. 1, 1921 to 1931
PORTUtND.OREGOM
Oregon Farm Mortgages
Netting Netting
Secured by Improved farms In one of the best agricultural districts of
the state. We have on hand for Immediate delivery mortgages of $500,
$1000, $1600. $2000, $2500, $3500 and up, netting 7 per cent to the investor.
Information Upon Request.
Pacific Coast Mortgage Co.
310 BY KXC'H. BLDG.
MAIN 673
Travelers Checks
We would direct the attention of Travelers and Tourists to our
facilities for equipping them with our Travelers' Checks which
are payable at all our branches, and correspondents throughout
the world. We can provide these cheques payable as Canadian,
New York or London, England, exchange, in denominations of
$20, $50 and $100.
The Canadian Bank of Commerce
Portland Branch
Fourth and Stark Sts.
Province of British Columbia
5 Gold Bonds Due January , 1025
Ienomlnatlon IIMN
PRICE 91.81 AND INTEREST, TO
YIELD 7.50
Principal and Interest Payable in United States Gold Coin.
Western Bond and Mortgage Company
Ground Floor. Board of Trade Building
maix 113 t pornra st.
rpHE invest
ment of an
other's money
is a trust which
calls for wide
experience,
sound judg
ment and ab
solute integrity
Strong 6 HacNaughton
CORBETT BUILDING
PORTLAND OREGON
Is Your
Money
Loafing?
Put It to Work In the
" BROADWAY.
It win work for you 365 day.
in tne year wiu
Greater Efficiency
and be available every business
day, including Saturday after
noons. Are you taking advan
tage of the most profitable
banking service in the city?
4 Broadway Bank i
B Broadway and Stark. &j
A'
I