Image provided by: University of Oregon Libraries; Eugene, OR
About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (April 25, 1921)
TOE -MOItXiyQ OREGOXIAX, MOXDAY, AritIL 23, 1921 17 in coi m HEALTH ER T Price Readjustment Contin ues; Crop Prospects Good. BUSINESS MEN CONFIDENT Slanacer of Portland Branch of federal Reserve Bank Says Situation Grows Better. .According to Frederick Greenwood. Bianag-rr or the Portland branch of the federal reserve bank, conditions In the banking world in thla country nave steadily Improved during the firet quarter of 1921. There la, he asserts, good reason for the feeling f confidence which Is more general than it was recently. With prospects of pood crops and a continuation of adjustment of commodity prices, the Situation Is said to be looking: better. "Conditions In this district are dally assuming- a healthier and more encourapinir tone." said Mr. Green wood. This is due to several fac tors. "Considerable liquidation of bank loans has been accomplished, thus placing- the banks in some sections in a much easier position. "Physical conditions have been ex ceptionally favorable throughout the winter. We are now within three or four months from a harvest which from all indications will be a boun tiful one. Livestock has wintered well, moisture Is plentiful, ran pes are abundant and the spring- lamb and calf crops have been exceptional. "A continuation of adjustments in commodity prices has brought us that much nearer to the normal balance between prices of various commodi ties which Is necessary before a sus tained and marked recovery of busi ness can be expected. "An increasing- spirit of confidence Is noticeable as people adapt them selves to the new order and resign themselves to accepting- thing's as they are Instead of hoping- vainly for a marKed reaction. It is pretty fren erally understood that getting back to normal is going to be a slow pro cess, and the necessity of working and saving; is daily becoming more apparent. "The era of high prices Is gone, and with producers and distributors re signed to the adjusted conditions, business Is showing Quite definite . signs of revival. "The coming crop will be raised at greatly decreased cost compared with last year. There Is no decrease In acreage due to lack of funds for seeding and the banks will be in a position to take care of the necessary harvest expense. Rigid economy will be the programme in an lines ror some time to come, but a healthier condition will Inevitably lowering of the level of Interest In the British market. "The expected cut in the bank rate has not materialized, a fact which Is ascribed by some to the disturbed con ditions growing out of the strike threat. Meantime the Increase of the federal reserve system's ratio and the continuous importation of gold have caused improvement in the reserve position of the country and give as surance of easier credit conditions provided that the liquidation of loans proceeds. As to whether the current increase of gold holdings can or will lead to a general reduction of dis count rates in this country there la difference of opinion with no definite indications thus far. although the low ering by the Boston reserve bank of its rate to ( per cent is encouraging. Improvement in the quotation of for eign exchanges has been chiefly due to the better prospects for a settle ment of industries difficulties." EL H. Sensenlch, vice-president of the Northwestern National bank, will leave today for PinehursU N. where he will, attend the executive council meeting of the American Bankers association. En route torn he will visit in New York and other eastern cities. COMMITTEE IS m MOCK CATTLE SALE HELD riUZES AWARDED AT WASH INGTON STATE COILEGE. AU-Ag Club Is In Charge of Pro gramme With 500 Students, Breeders and Stockmen There.. FIVE APPOINTED TO WORK FOR IRRIGATION' PROJECT, BaVer Citizens Pass Resolution to Raise $10,000 to Aid Pass, age of Reclamation BUL, suit. "The banking situation the coun try over has steadily Improved during the first quarter of the year. The ad vance in the federal reserve ratio from 43.7 per cent on December 30 to 53.5 per cent on April a is signifi cant All in all there Is every ex cuse for the feeling of confidence which is daily becoming more gen eral." The nation-wide "buyers strike" is breaking, according to reports reach ing the Lumbermen Trust company, declares James Lynch, vice-president and head of the bond sales depart ment of the bank. This, combined with the fact that supplies of finished materials are nearing the aero point, he said, indicates that the wheels of Industry soon will be turning again and marked improvement in general conditions may be looked for very Boon. "In the east," said Mr. Lynch, "the buying movement is already under way. The cost of living as compared with July of last year has fallen 17.6 per cent, according to the reports of the national conference board. At the same time bank reserves have in- ; creased, Indicat'ng that business has successfully weathered the depression and has liquidated its loans. "These two items are about the fairest business barometers we have to go by at the present time. They point definitely to the sign, fair weather ahead." "Falling commodity prices have re flected favorably on the bond market and we note a very strong demand, particularly from those seeking per manent investments, for high-yield . municipals of the smaller communi ties and districts. "Northwestern banks in various lo calities write us that retail business Is in much healthier condition than It was a few weeks past. Wheat is moving from the interior, and on the west coast lumbering operations are opening up rapidly along with other spring work. The beneficial effects are now being felt in Portland and business men generally are more optimistic" Henry Clews A Co. of New York publishes the following item in the bank's latest business bulletin: "Adoption by the British treasury of the plan of placing treasury bills through bidding rather than through distribution at a fixed rate of inter est is by some believed to foreshadow a reduction of rates for such bills which woald be tantamount to the BAKER, Or, April 24. (Special.) James H. Graham. W. J. Lacbner. W. B. McCarthy. W. C Caldwell and F. Vaughn were appointed by President James Panting of the .Baker realty board to serve on the committee l the interest of the proposed lower Powder river Irrigation project today t thai hoard's weekly meeting. At a meetinr Monday night, zvu Baker countv citlxens passed a reso lution to raise 110.000 to aid In me Dassace of Senator McNary'a reclam ation bill now before congress, and to obtain favorable action of the United States reclamation service on the lo- (al nroiect. In a similar meeting at Keating In the river valley farmers opening land in the proposed district votea to db sed 15 cents for each acre to further the movement. A committee of six to serve with the lower Powder directors on a com mittee to collect the 110.000 has not yet been appointed by President irfui ridge of the local chamber of com It has been assured that with the passage of the McNary measure can ing for an appropriation of J25.000.OO0 the money lor tne propostu piujci... will be certain, since two-thirds of th. fin 000 acres to be irrigated is government or nndeeded land. THREE ENGRAVINGS LAUDED Jantzen Knitting Mills to Use Bath ing Girls In Advertisements. Three engravings of bathing girls for use in eastern magazines in the advertising campaign of the Jantzen knitting mills have Just been pre pared by the West Coast Engraving company of this city and have excited favorable comment from eastern ex perts. Letters have been received by the engravers praising the workmanship on the plates from experts in nearly every section of the United States, including Louis Flader, editor of the Photo Engravers' Bulletin. The. critics were unanimous In the opinion that this work is equal to any done in this country, and the George Russell Reed company of San Fran cisco expressed the opinion that It excelled many eastern specimens. Doughnut Factory Begun. HOOD RIVETR, Or.. April 24. (Spe cial.) V. Williamson and B. E. Abeg e-len of Portland have leased quarters cn Twelfth street, on me neigms ncre. and are installing machinery ror me manufacture of doughnuts. The manu facturera. who supply Portland ana Willamette valley points witn oougn. nuts, declared that the heavy demand for their product in mld-OoliftnbU mints justified the local factory. The douehnuts will be distributed by au- tnmobiles throughout Oregon and Washington mid-Columbia districts. HOUNDS MAY HUNT LOG Hoquiam Commercial Clnb Loses Highway Ornament. HOQU1AM. Wash.. April 24. (Spe cial.) City officials. Secretary Mathias of the Hoquiam Commercial club and police and harbor author!' ties have been searching actively for a huge spruce log If feet In diameter and of undetermined length, which is the property of the club. It was do nated to the club by the Wynoche Timber company some months ago after a large slab of it had been cut off for the Shriners to take to Port land for the annual convention. Secretaries in the club were changed and other matters interfered with the placing of the stick until yester day. It had disappeared. Request has been made for the bloodhounds of Monroe reformatory to be used in tracing the log, which was to have been placed by the Olympic highway. Phone your want ads to The Ore- gonlan. Main 7-079. Automatic 560-95. WASHINGTON 6TATE COLLEGE, Pullman. April 24. (Special.) The fifth annnal mock sale and show was held here yesterday under the auspices of the All-Ag club, with 600 students, breeders and stockmen in attendance, the largest crowd ever gathered at any sale. J. D. Keith of Davenport called the sale of beef cattle, horses, sheep and hogs and James McKay of Spokane the sale of dairy cattle. The show and- sale were held n the animal husbandry pavilion n stead of Rogers field, owing to the muddy condition or me iieia. uie 6howmanship contest this morning, first nrizes were awarded as follows Aberdeen Angus cattle, C. D. Swartz ot Takima: Hereford cattle, M. A. Alexander of Prescott; Shorthorn cattle. James Roberts of Pullman; Holstein cattle. C. E. Egbert of Bow; Jersey cattle, Edward Roberson of Olympia; Ayrshire cattle, A. E. Kel laway of Lapura. Idaho; hogs, Russell L. Elsom of Greenaeres: sneep, Vin son E. Mundy of Ellensburg, and horses, M. A. Alexander of Prescott. Sweepstakes prize in showmanship of dairy cattle went to Arthur Kellaway of Lapuru, Idaho. The judging contest, open only to underclassmen, went to Carl Ander son of Walla Walla, with L. E. Gra ham nf Knokane second and M. A. n.Tinrfiir nf Prescott third. In the student fitting contest. judged on the improvement made on anmals in preparing them for show, the following first prizes were Shorthorns. Leonara u. t r.r.nt r SDOKane; ""nuir. Angus, Harold Graham oi uoinwcn, u.mtnr, M. A. Alexander of Pres- . . nhAAn TCllison j. muiiuj u. LUIl, DllUbf. - Ellensburg; hogs. Lutner n. meyer Outlook, and horses, Marvin uross i Walla. Walla- EARIiY APPLICATION' NEEDED pAREFUL INVESTORS should pur- chase securities from an institution whose character, stability and manage ment are an assurance of continued pro tection to its customers. This bank maintains its Bond Depart ment to afford you that assurance and protection in making safe investments. . III Farmers Advised to Put on Ferti lizer Soon After Plowing. Commercial fertilizers are best ap plied to land as soon after plowing as possible, reports the soils depart ment of the Oregon Agricultural col lege experiment station. Where It is applied early, says tlje report, "the rains carry it into the soil, d'ssolving it and making it available for the plants. Many in stances have been found where fer tilizer was purchased and left in the barn through the entire season, being only in the way and of no use. Ex periments have proved that late ap. plications do not bring the returns that early applications do. but are better than none at all. CHEESE PI.ANTS INSPECTED Government Specialist Reports Quality Much Improved. An inspection of the Coos and Curry county cheese factories, owned by the Oregon Dairymen's . By-Products cor- oration, has just been completed by H. R. Lochry, dairy manufacturln medalist of the United States de partment of agriculture. Mr. Lochry declared that much progress had bee made since his last visit to those fac torles during August of last year. The quality of the cheese put out by these factories is much improved over the products put out last year, said Mr. Lochry. BROCCOLI SOWING DATE NEAR Seeds Should- Be Put In Rows 18 to 24 Inches' Apart, Broccoli - seed is usually sown th latter part of April or possibly th first week in May. according to in Is This a Time to Buy Bonds We believe that it is. The present period of readjust ment affords the investor an opportunity to secure, at unusually low price levels, sound bonds of all " types yielding: from 6 to 8 We shall be glad to offer recommendations and the fa cilities of this organization are at your disposal. G.E.MILLER & COMPANY BONDS GOVERNMENT ' . TELEPHONE MAIN 4-1 95 i04 5 6 Northwestern Dank Building F O l T l . M O , OPEGON 3 Canada as a Purchaser We have prepared a pamphlet which contains valuable informa tion on Canada's resources and commerce. Those interested in the trade possibilities of this country or seeking fields' for profitable investment will find the brochure of especial interest It will be' tent to you on request, without charge, by any of our branches. The Canadian Bank of Commerce Portland Branch Fourth and Stark Sta. School District 6 BONDS OF OREGON Gilliam County, S. D. No. 25 Opt serially, 1927-1941 Sherman County, S. D. No. 23 Due 1930-1933 Klamath County, S. D. No. 1 Due 1929-1931 Madras Union High S. D. No. 1 Due 1940 Opt 1930 Prices Par to Yield ' 6 Ralph Schneeloch Co. MUNICIPAL AND CORPORATION rMANS UJMSCRMCNS BUILDING B $3,000,000.00 Province of ritlsh Colombia General Obligation Gold Bonds Dated April 25, 1921 Due April 25, 1926 Principal and semi-annual interest payable April 25 and October 25 in New York City in United States Gold Coin. DENOMINATIONS $500 AND ?1000 FINANCIAL STATEMENT Assessed Valuation ... $801,407,268.00 . Total Funded Debt, including this issue : 43,466,436.00 Population (Officially Estimated) 450,000 British Columbia is the third in size of the Provinces of Canada, and has an area exceeding 227,200,000 acres. The natural resources , of the Province make it one of the wealthiest in the Dominion, the natural forests alone covering an area of about 180,000,000 acres. The great progress which is being made in the development and production of the Province isseen in comparing the value of the total production of 1901, which amounted to $53,037,280, with that of 1918, amounting to $237,144,696. Price 93.84 to Net 7.50 Carstens & Earles. Incorporated SEATTLE NATIONAL BANK JOHN E. PRICE & CO. FERRIS & HARGROVE HALSEY, STUART & CO. Bond Department Pendleton, Or. The famous "Let 'er buck" city, and the wealthiest, per capita, in the Pacific North west. A limited issue of 10-Yr. 6 Imp. Bonds Legal Investment for Oregon Savings Banks INCOME TAX EXEMPT Price 100, Yield 6 Pendleton has a population of over 7000 people. It is the agri cultural and industrial center of eastern Oregon, and is the trading center of an immensely wealthy region. Denomination $500. We Suggest an Immediate Reservation For diversification we recommend Greybull, Wyo. Imp. 7s. Yield .. Tillamook, Oregon, 6s. Yield 6 All Income Tax Exempt LUMBEKMEN5 TRUST COMPAiiY BROADWAY AND OAK structlons on the production of that vegetable sent out by the agricul tural college experiment station. "The usual practice is to bow It In rows from 18 to H inches apart and d'stribute the seeds thinly in the row, not less than an inch apart. The Dlants reauire from seven to eight weeks to make their seed bed irrowth. '.They will bo ready to set out the last week of Juno or the first week of July." Safety High Yield We offer the unsold portion of our own issue to yield 8. Safety of Principal and cer tainty of interest guaranteed by 95 individual first mort gages on irrigated farms. . There are $175,000 mortgages held by the Portland Trust Co. . to secure $150,000 bonds. Con servative loans. Bank recom mendations. Bonds Ready for Immediate Delivery at the Portland Trust Company Exempt as to 2 normal in come tax. Legal investments for Savings Banks and Trust Funds. Denominations: $100 $500 $1000 Ask Us for Circular Southern Idaho Land & Power Co. Portland .Office 1212 Gasco Bldg. City of T o P P e n i s h Wash. 7's at par Hay 3,149 Grain...... 293 Fruit . 110 Potatoea . . . 846 Sugar 250 Livestock . . 256 Sugar Beets 700 Carloads. 5,604 This Is not all sim ply the principal prod ucts Bhiooed from Top- penish. Wash., during last year. Can you beat It7 Do you know of another community of 7000 people that can touch this record? Toppenish h a s t h e largest nursery in the state. It has bank de poslts of $1,500,000. Bull dinr permits for 1920 aggregated I31S, SO0. It has a sugar re finery that cost (4,250, 00( Cm Yon Beat ItT Toppenish Is the trade center of a vast area of the famous Yakima valley. We own and offer you 15400 of Toppenish 7 one to ten-year street Im provement bonds at par and accrued inter .est to yield you a full 7, income tax exempt. D e n o m 1 n ation- $200. Cash, or partial . pay ment plan. Can you beat it? Call, phone or write. Wo specialise In Liberty and Victory Bonds, See us fcefore you buy or sell. wouwo n.eea UiHumm MiLOtiM Firm mb Stjuuc S74 .Freeman Smith CAMP CO. Bonds for Immediate Delivery: Obligations of the entire Province of British Columbia 6 BONDS Maturing October 25, 1923, Price: 96.09 Yielding 7W Municipal Bond Department Commerce Mortgage Securities Co. Ground Floor Chamber of Commerce Bldg. 91 Third Street Phone: Main 3067 We offer our participation in $30,000,000.00 Goodyear' Tire 8c Rubber Company 1 st Mortgage 8 Sinking Fund Bonds Redeemable in Lots of $750,000 Each Six Months, Starting Nov. 1, 1921 At 120 and Accrued Interest. These are coupon bonds of $100, $500 and $1000 denominations; in terest payable May I and Nov. 1 ; security consists of first mortgage lien on all fixed assets of company (now and hereafter acquired) aggregating at this time over $84,000,000. . PRICE 99 AND INTEREST The high character of this issue is evidenced by its being underwritten and participated in by the foremost investment bankers east and west. Complete information upon request. CEABK KENDALL & CO, inc GOVERNMENT MUNEIPALAND CORPORATION BONDS FIFTH AND STARK 5TRT5 PORTLAND OPEGON Nico lor Flowws -but a vasc is rat hoc tnsocun? for kpin valuable papers 1'iacG jourr in a Safe behind steel . and rorvrpto at i ythU.S.. i PROVINCE OF BRITISH COLUMBIA 6 BONDS Dated March, 1121 Due SI arch, 1D26. Principal and Inttreat Payable In U.S. GOLD COIN in New York 7 H. E. WILLS CO. Price IM.00 to yield 31 17. S. BANK BLDG. Bdwr. 1011. Portland. IB 1 1 Bonds IMPROVEMENT PROVINCIAL SCHOOL WATER to yield 6 to 8. Western Bond & Mortgage Co. Main 113. 80 Fourth St Board of Trade Bldg. Ground Floor. imi i iAff United States National Hank. Sfcrth and SaiK Streets.' MORTGAGE OFFERINGS 7 ?160O 7 Farm Valuation $4000 $20007 Residence Valuation ....$5000 $25007 Residence Valuation . . . .$6000 Call for particulars. j Pacific Coast Mortgage Co. S19 Ry. Exchange Bldg. Main 675 You Need This Investment Record Book Send for It Every investor should keeP a complete and permanent record of every investment trans action and a full description of his holdings. We have prepared for distribution to investor! without obligation a new Investment Record Book. It is complete, embodying a full description of your holdings and a record of your transactions. It is convenient. Its loose-leaf pages enable you to file away your record after disposing of your hold ings. It is compact, a cloth-covered book, 4x8 inchei in size. A copy is yours for the asking. Send for it today. Ask s0 fr a C0P9 f ouT Current Investment List, offering over tivenly attractive investments. BlYth, Witter, &, Co. Yeon Bldg., PORTLAND SEATTLE - SAM fRANCISCO- tOS ANGELES- NEW YDnit WE WAJfT HENS and BROILERS Top Prleea Quick Retnrma C. M. HALL PRODUCE CO, 272-274 GUaaa Itreet, Portia, Or, AMONG CANADA'S BEST Eonds secured by large municipalities now available at excellent yields: Due Yield Province of Alberta 6's 1923 7 Ofn. i f J Province of Alberta, 4','s 1924 Greater Winnipeg 5's 1923 Q AA Tifv of Montreal 6's 1923 OiUUw Portland KEELER BROTHERS . Investment Securities U. S. NATIONAL BANK BUILDING Broadway 6800 i