Image provided by: University of Oregon Libraries; Eugene, OR
About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (July 25, 1921)
THE MORXIXG OREGONTAN", 3IOXDAT, JULT 25, 1921 13 V K M WHEAT CROP TO EASE FIliES Farmers Likely to Liquidate Notes This Fall. OUTLOOK NOW BRIGHTER Oregon, Washington and Idaho Yield or 78,000,000 Bushels Ex pected to Bring $100,000,000. A 'big: step in further readjustment and liquidation is seen by financiers in the forthcoming? huge crop of wheat. According to careful esti mates, there will be a total of 78,000, .000 bushels produced in Oregon, Washington and Idaho which at pre vailing prices should bring to the farmers about T 100.000,000. This is a very large harvest and, although the rates to be paid are comparatively low, the returns will mean a great deal in the matter of payment of loans and the clearing of unsatisfactory money conditions. Farmers will have to take a loss on their wheat crop because it will cost them from $1.25 to $1.50 to raise and harvest a bushel this year, but there is forecast a disposition to sell and it is believed that there will be a rapid movement of the crop after it is threshed. According to various au thorities, including C. E. Spence, mas ter of the state grange, the cost of the crop will be perhaps 25 per cent lower than last year, but the expense of seeding, etc., is still pretty high. Next season, however, it is anticipated it will be much lower and a steady return to normal conditions is to be expecte'd. Bankers are able to see in the sit uation much good. Frederick Green wood, manager of the Portland branch of the federal reserve bank, states that the movement of the largest wheat crop in the history of the northwest will mean a great forward step in liquidation. Many farmers, like other classes of people, have been depending upon their banks to carry them along for quite a while. By the sale of wheat or other products, they will be able to take up their loans and other notes and in this manner will help others to a condition where they, too. can pay bills and the whole Situation will become easier. "There can be no doubt that the movement of the big wheat crop will prove beneficial as a means of bring ing about further liquidation," said W. L. Thompson, vice-president of the First National bank of Portland "While the growers will have to take a small loss, they nevertheless will be enabled by their sales to clear up loans and notes and the money thus put into circulation will undoubtedly make for better financial conditions." The apple crop of the northwest, which will be unusually large, will also be a factor in restoring financial conditions to a more satisfactory status. While it Is not known yet what the price is to be. there will be several millions of dollars' worth. There will undoubtedly be a good de mand for this crop, as throughout the middle-western and eastern states the yield will not average above 55 per cent of normal. Other crops of the northwest have their place in bringing about more normal financial conditions. Viewed from all angles, the outlook is fairly bright. When the sale of cumulative first preferred stock to the value of $1, 000.000 is put on the market August 1 by the Northwestern Electric com pany, J. G. Tavares. stock sales man ager, with headquarters at 228 Pit- tock block, expects the securities to Bo like the veritable hot cakes. "Business dullness or not," he said, "there is a strong demand for secur ities of this class and the stock is not only highly desirable by reason of the fact that it pays per cent on the investment, but it is attractive because the buyer may rest secure that his money is entirely safe. The Northwestern has always paid divi dends upon its preferred stock since the organization of the company, its 25th dividend having recently been paid. "The Northwestern will put the money realized from the stock sale into the construction of tangible as sets, extensions and developments to the present system, and the money will oe spent right here at home. 'The company is located on the most substantial basis in the midst of a great and growing market for electric power and steam heat, the things the Northwestern has for sale, and the future of the company is very bright indeed. This is a stock that will appeal to large and small inves tors with about equal attractiveness.' There has been a decided improve ment in the credit situation through out the country within the past few weeks, and with the federal reserve banks reducing their loans, and other banks in turn reducing their loans to industrial concerns and individu als, there is every indication that the credit strain is relaxing and interest rates are on the way downward, ac cording to digest of conditions made by Freeman. Smith & Camp company, investment bankers of Portland and San Francisco. The reduction in loans and the falling interest rates for money are forerunners of advanc ing prices in bonds, according to the statement of the company. "It is obvious," reads the digest, business is gaining in health, and while it is-true that deflation is still somewhat distant, certainly progress is being made toward a sound basis. Call and demand money have been easier as crvnpared with conditions a veaago. Some of the foreign issues of bonds have moved steadily for ward, reaching heights heretofore un recorded. We refer particularly to :he bonds of the government of Switz erland, which came on the market recently at par and moved up to 106. "The hest indication of the money equation is in the action of the fed eral reserve banks in reducing their rediscount rates, and now statements are being made that the banks are likely to reduce their rediscount rates still further and this action will be with the full approval of the federal r'sf rv board. Already this has been reflected in the price of liberty and victory bonds. "The banks in the farming sections are loaning more carefully now than ever before and are holding down all loans to a minimum, provision, how ever, being made to finance crops and care for necessary demands. Pro ducers, generally, owing to reduced prices and better attention in pur chases, find it possible to conduct their business with greatly reduced borrowing facilities. "It is predicted that the farmer will come through with very little loss, because the increase in wheat crops and the adjustment in the wage scale will offset other handicaps." In a late bulletin Knauth. Nachod & Kuhne of New York have the fol lowing: "The flow of gold to the United States which started in the second half of last year has shown no sign of slackening. Since September 1, 1920, the imports of gold into the United States have exceeded exports by approximately $500,000,000 and the total amount in this country is placed today at about $3,200,000,000. The metal has been drawn from all parts of the world, but for the most part from Europe. "Since the first of the current year more than $100,000,000 has been re ceived from England and more than $70,000,000 from France. This in flow has more than offset the losses in gold which followed the removal of the gold embargo in June, 1919. Our total stock of the metal today is greater than ever before and rep resents about one-third of the world's stock of monetary gold." ' . Effective today, a discount rate of 5. instead of 6 per cent, will be the ruling of the federal reserve bank, this being the official announcement given out here by Frederick Green wood, Portland branch manager. He points out that this is the first reduc tion since November, 1920, in this district- S. M. Fries, who for the last two years has been cashier and office manager for Carstens & Earles, Inc., here, has opened an office at 85 Fourth street, where he will deal in government and municipal bonds. RYERSGN ORCHARD IDEAL FINEST COAST APPLE TRACT LOCATED XEAR DAYTOX. . Hood River Publisher Declares Plant to Operate Crops As sures Fine Products. HOOD RIVER, Or., July 24. (Spe cial.) According to A. D. Moe, local newspaper publisher and owner of a large Hood River valley orchard, who recently toured all "Wasnington fruit sections, E. S. Ryerson of Dayton, Wash., has one of the most complete ly equipped and finest apple tracts on the Pacific corst. "This is saying a lot,' said Mr. Moe, "but Mr. Ryerson has the evidence to back the statement. His tract is ideally located four miles from town in rich bottom land. His air drainage is such that he suffered practically no injury from the cold weather of 1919. Mr. Ryerson has 75 acres In bearing trees. His yield always hac been excellent. He has an apple house fully equipped. It is two stories and basement and. will hold several carloads of apples in storage. He estimates this year's crop at 30,000 boxes. "He has equipped the plant with a mechanical sizing machine, but he does not believe in mechanical sort ing. He has added to the grader a long sorting table, where any num ber of skilled sorters can go over the apples before they are passed to the sizer. Thus he maintains an ex cellent reputation for pack." SQUIRREL DRIVE COMPLETED Farmers of Josephine County Save $22,000 by Poisoning. GRANTS PASS, Or., July 24. (Spe cial.) The farmers of Josephine county have just completed a two weeks' drive against the gray digger squirrel. The drive was planned by the county agent's office, assisted by Kussell Ferguson of the United States biological survey. A total of 12,565 acres of non-resident land was as signed and covered with Vhe poisoned barley. Government land with an acreage of 9213 acres was covered, making the total lands covered in the county 21,778 acres. The county agent has prepared fig ures showing that the farmers have saved approximately $22,000 as a re sult of the drive. It is estimated that at least one gray digger is killed on every acre covered and that if alive this squirrel would have done damage to crops amounting to $1. This is the second of these drives to be put on here this year, the first having taken place early in the season. On the evening preceding th drive in each community a picture show was held. Educational pictures were exhibited and talks on rodent control made. The attendance at both the shows and the drives was large, the farmers exhibiting a large amount of of interest. COLD STORAGE HELD FMrniEBS" DIG WEED Chain of Warehouses Like Canada's Is Urged. PRESENT WASTE CITED Facilities Would Enable Shipment of Produce to Every Part of World, Declares "Writer. CLATSKANIE, Or., July 23. (To the Editor.) There was published in The Oregonian of Sunday, July 17, a very able editorial under the heading "Forge a Transportation Chain." I am wondering hi many of your readers grasped the full meaning of what the results to Oregon and the whole west coast country would be if the suggestions in that editorial snouia be carried into effect. There is nothing that this western country needs more, to insure rural prosperity, than a systematic chain of cold storage warehouses at deep wa ter seaports, provided these plants would be operated independently for the farmers' benefit. Let us take the case of Oregon into consideration, and for lack of space state in brief that the same arguments apply to all the country west of the Rockies. Difficulties Are Noted. A great deal of effort has been spent trying to induce more of that class of farmers and dairymen having the means to operate an average small farm, a class that is far in the- ma jority and that produces more than three-quarters of all foods found on our tables, to locate on our land. They are told that the land is as good as can be found under the sun; that the climate can't be beat in the world; that it is a land flowing with milk and honey, all of which is true as the gospel of St. John; but these people generally do some thinking for themr selves, and come to the conclusion that they cannot depend on a paying market for their produce for the rea son that the population is sparse and when the home market is supplied there is no chance to reach a market at a distance except by paying all the profits and more in freight. Then, when the produce does reach that distant market, it is not in a con dition to bring anywhere near full market price. Thousands of tons of many kinds of fruit, butter, eggs, cheese, fish, fresh meat, dressed fowl etc., are being sold at a loss here in the west every year for lack of cool ing facilities both while this produce is accumulating for shipment and while it is in transit, for even if privately owned cold storage rates were low enough to allow the pro ducers to use them which they are nt enough room is not available. Canada's Chain Is Cited. Fourteen years ago Canada began to build a chain of government con trolled cold storage warehouses across the country from the Atlantic to the Pacific, and in the short space of seven years had in operation 6.000,000 cubic feet of refrigerated space. One of these plants with a capacity of 7S1.000 cubic feet of cooling space is located at Prince Rupert, on the Pa cific coast; another at Victoria, B. C, and still another at Penticton, B. C. Very large plants are also located at St. Johns, X. B. ; Halifax. Quebec ar.d other seaports on the Atlantic These plants are totally independent of any private influence, and are op erated on tne Dasis of meeting Tun ing expenses only, plus a very amall percentage that is put into a sinking runa to meet the amount of invest ment in a certain number of years. i had an invitation the othtr day from the Portland office of the Wil liams Steamship company to visit Its new ship Kennecott in Portland har bor, which is now making Portland a port of call between here and New York. How many people in Portland and surrounding country are consid ering what an opportunity is offered by this company to build up a real commerce? Opportunity Is Seen. It is said that opportunity knocks at every man's door once, but in this case she has not- only knocked at Portland's door, but has actually walked in. Are we in the west going to allow her to fade away never to return, without an effort to show that we appreciate her call? Here is a ship fitted with cold storage and every modern means for delivering perishable produce of every kind in first-class condition to a market thousands of miles away, at a rate that is within reach of the small pro ducer, for with cold storage facilities such as outlined in The Oregonian, ail or any produce could be shipped in carload or trainload lots by land, to interior points, and to every part Of th Vftpltl w V .l,ln oall I water. These plants would issue warehouse receipts on which a. large part of the value of produce could be drawn, practically giving the pro ducer cash for his shipments. War Importance Noted. Also It would be an effective war measure that even the most craven pacifist could not and would not find fault with, for it would be conserv ing the country's food resources for the country's benefit. Speaking of war, this country has been at war With some other country on an aver age of a little less than every 20 years ever since we became a nation, leaving out all the so-called wars with Indians and other internal in surrections of every kind except the civil war, and there is nothing to be found in world conditions npw to con vince me that at least the same ratio will not continue in future. Our country will not and cannot improve economically until some means are provided for conserving what the producer works so hard to produce. There always has been and always will be a season in which the farmer produces at least 90 per cent of our foodstuffs, that is the summer season, and unless the surplus can be saved for the season of nonproduo tion, winter, and distributed in good condition to markets that need It, farmers of the west especially will be handicapped. " R. ROBINSON. DEMOXSTJRATIOX IS TODAY FREEZERS HADE HERE TOR REV COMPANY'S MAIN" OF FICE. IS IX PORTLAND. Fordson Tractors to Be Seen in Operation at Bliss Farm. The' Fordson tractor demonstration at the C. A. Bliss farm near Linne man station, between Foster and Powell Valley roads, will be par ticipated in by 2S tractors, 68 dealers from all parts of Oregon and south western Washington aiding in ,th demonstration. The demonstration will include the use of some 50 ap pliances for the Fordson tractors and will be used in every phase of. farm work. The demonstration will begin this morning, continuing for two weeks. J Work of clearing land of stumps, cutting hay and grain, threshing, fill ing silos with ensilage and plowing will be demonstrated by the Fordson mechanics. One-man scrapers, bail ers, hoisting machines, bean thresh ers and grain binders will be put to practical use with the aid of the tractors, and a number of local inven tions, including two tractor mowing machines and a giant bean spray, will be included in the demonstration programme. Conveniences to the public who wish to view the demonstrations have been arranged, with free transporta tion to the farm to be furnished by the Universal Car Exchange and the Ford branch office here. A lunch counter has been constructed on the grounds. TAMPER IS BOON- TO SILOS Capacity Increased and Keeping Qualities Are Aided. An Innovation In the filling of silos in the shape of an automatic tamper has "proved successful as the result of Experiments conducted at the agricultural college. This tamper, it is declared, will Increase the capacity of silos packed in the ordinary way fully 50 per cent, In addition, not only does it pack uni formly, but it increases the keeping qualities of the etisUage through closer packing. ( This automatic tamper is manu factured by the Cushman Manufac turing company. . It works as a small steam roller which runs around on top of the ensilage as it is fed into the silo. The operator handles the tamper and the feeder at the same time, so the cost of operation is not increased. The capacity of the silos at Oregon Agricultural college were swelled 33 1-3 per cent over the previous rec--ord of close packing, according to J. C. Pollock, dairy herdsman at the college. Oats and vetch and barley and vetch totaling 275 tons have been put into the college silos' this year. All of the'm have been packed by the automatic tamper. More ensilage of corn and sunflowers will be handled this September. MED FORD GETS WAREHOUSE Branch Is Established by Portland Flouring Mills. The Portland Flouring Mills com pany has just established a new warehouse at Medford, Or., for the handling of the distribution of the products of that concern throughout southern Oregon. R. P. Lyman, salesman for that company in southern Oregon, is in charge. The Medford warehouse is on the main street in the heart of the city and is attractively decorated with the "Olympic" trade-mark. Refrigeration Machines Are Added to Manufactures Produced by Home Industry: Initial production of home refriger ation machines by the Torrey Refrig eration company of Portland serves to call attention to the location of an other world industry in this city. The Torrey company owns and controls the world manufacturing and selling rights for the "Bear" line of refrig erating machines and has its head of fice in the Wilcox building. The firm is an Oregon corporation, capitalized at $100,000, and is headed by F-. S. Belcher, president of the Automotive Sales company, who is, in addition, a director in a local bank as well as in several other corporations. John H. Hall, attorney, also a backer of other enterprises, is vice-president and J. A. Sather, formerly interested in a num ber of financial institutions in the middle west. Is secretary and sales manager. T. W. Hughes is their legal counsel. Five hundred "Little Bear" mar chines are now being turned out as fast as possible at the local plant of the company, which is working to ca pacity. This machine is the smallest of the family, designed by L. L. Torr rey, the inventor, to transform the family ice box into a miniature cold storage and ice-manufacturing plant. Every section of the machine is made locally, the only foreign elements en tering into the refrigerator being a small electric motor. The castings, machine work, draughting and de signing, assembling and sales or ganizations have their headquarters in Portland and it Is essentially a home industry of the first magnitude. 51 J i v:f fi: rt-.. u .1 K;r-H-! DRESSING PRICE FACTOR PROPER KILLING OF FOWLS AIDS MARKET VALUE. U! 1 A Five Year OREGON MUNICIPAL BOND Yieiding ' l2 No income tax to pay. Debt is less than 69o of the assessed valuation. Phone, call or write. CLAMS-KENDALL r CO.. INC Fifth ond Stork Streets 5335? Two News Items of World-Wide Significance 1! ant an w J." TS- -cot- e mscou xn- -p.ee s.tvO ot ' 8 fTJ GOVERtlMEMT-MUHiaPAl: CORPORATION-fTf7 H llflk BONDS fUlf Masonic Orders Picnic. MORTON, Wash.. July 24. (Spe cial.) The Masons and their families from Mineral and Ashford and the Masons and Eastern Stars of Morton held a picnic on Mineral creek today. A programme of sports was arranged. Lunch was served. Sticking From Inside Mouth, by TTse of Thin-Bladcd Knife, Is Practiced by Breeders. The method of killing and dressing the fowl for the market is an im portant factor in getting maximum returns in the poultry Industry, ac cording to a communication issued by G. F. Bell, instructor in the agricul tural college poultry department. Not only are the scars left by the usual methods of killing unsightly, he said, but they are also liable to infection. "Sticking the fowl from inside the mouth is now practiced by leading poultryraen and poultry merchants," said Mr. Bell. "Best results are ob tained by using a thin, sharp-bladed kuife. The fowl is first bung up by the feet on a suspended cord. The knife is inserted in the mouth and a diagonal slit made across the upper corner of the mouth. This cuts the large artery of the head and allows the fowl to bleed to death quickly. "Simultaneously with the cutting of the artery the knife may be turned and the point pierced through the roof of the mouth into the rear brain cavity. This piercing of the ner vous center causes a relaxation of the skin muscles and the feathers may be dry picked. t The picking must be done rapidly, 'for the period o! relaxation is brief. Thus it may be seen that the method not only produces a better appearing product, but economizes on the time taken in doing the work." PICRIC ACID IS DUE OBEGOX Explosive for Land Clearing Will Be Sold at Cost. A total of 192,000 pounds of picric acid, being the amount allotted to Oregon by the bureau of public roads of the United States department of agriculture as the state's share of the 12,000.000 pounds left over at the close of the war. is to be distributed in this state by the extension department of the agricultural college, according to Paul V. Maris, director of that depart ment. , This explosive is declared to be fully as good as dynamite for land clearing, ditching and other blasting work. The acid is used in much the same manner as dynamite and six ounces will produce the same result as eight ounces of dynamite. With reference to the sale of the acid Mr. Maris gave out the follow ing statement: "The stuff will be. sold to buyers at cost, with only the charges of transportation and handling added. The approximate price will be $13 a hundred pounds, according to Mr. Ma ris, though freight rates will be 75 cents less per hundred as soon as the cartridge plant is established at Fort Wingate, N. M-, and shipments made from there. The present carloads will come from Sparta, Wis." WHEAT DAMAGED BY FROST Serious Crop Injury Reported in Southeastern Idaho. BOISK, Idaho, July 24. (Special.) Serious damage was done to maturing wheat in the southeastern part of the state by the' frost on the night of July 3, according to Lewis Williams, internal revenue collector and owner of a large ranch in that section, who returned last wees; after an inspec tion of his crops. "A low estimate is that from20 to 25 per cent of the crop is lost as a result of the frost," said Mr. Will iams. "The freeze was from Pocatello south and east. North of Pocatello there was no freeze. Marsh valley and Chesterfield in Bannock county and Soda Springs in Caribou county were particularly hifrd hit." TRAINED BEE MEX IX DEMAXD Commercial Apiaries Declared to Want Expert Managers. Beekeeping as an occupation is rap idly being developed in the state of Oregon, according to a canvass of the state made by the agricultural col lege experts. This canvass was said to have revealed the fact that large commercial apiaries are increasing in size in the irrigated sections of east ern Oregon, in the fireweed sections of southern Oregon and in the alsike clover sections of tne Willamette valT ley especially. "Many beekeepers have incomes of from $1500 to $4000, while some have an income from their apiaries which is more than $10,0f0," the agricul tural college announced. "The pres ent production of honey in Oregon is nearly 1,000,000 pounds. Bee pasture is. being constantly increased, due to larerer areas coming under irrigation. 'Demand for men trained in bee keeping is urgent. The department of entomology of the Oregon Agri cultural college has received requests from commercial horticulturists for men trained in 'horticulture and. bee keeping to take charge of their or chards and bees. Large commercial apiaries are also looking for men ex perienced in beekeeping to manage their apiaries. ' Banking S Your banking requirements may be entrusted to this Bank with every confidence that care ful and efficient service will be rendered. The Canadian Bank of Commerce Portland Branch. Fourth and Stark Streets. CURRENT OFFERINGS MUNICIPAL AND GOVERNMENT BONDS Approximate State of California 5s... , Coos County 5s Morrow County S. D. No. 13, 5'zs Jefterson County 6s... ... Seattle School Dist. No. 1, 6s Port of Grays Harbor 6s. City of Enterprise, Oregon, 6s , Lewis and Clark County, Mont., S. D. 6s. , Port of Astoria 6s '. Province British Columbia 6s "Newfoundland Gov't., Non-callable 6'2s.... Greater Winnipeg Wter 5s.., .... City of Vancouver 4 Vis French Government, Non-callable' 7Vz UTILITY BONDS Pacific Pr. & Lt. Co. 8s T Pacific Pr. & Lt. Co. 1st 5s. . Puget Sound Pr. & Lt. Co. 7 'is. Nevada-California Electric Co. 8s Southern California Gas Co. 7s San Diego Cons. Gas & Elec 6s East Bay Water 7'js r. MISCELLANEOUS BONPS Libbv, McNeill & Libby 1st 7s 1931 Broadway-Yamhill Bldg, 1st Mtg. 7'is 1923-1926 Carnation Milk Products Co. 7s 1925 General Petroleum Co., 1st 7s 1931 Maturity. - Price. Yield. 1934&1937 a.50&5.40 1930 93.12 6.00 1932 96.03 6.00 1941 100.00 6.00 1932-1957 5.70-5.90 1941 100.00 6.00 1922-1930 99.00 6.15-6.70 1940 97.25 6.25 1925 98.00 6.50 1926 93.00 7.75 1936 93.63 7.20 1923 93.90 8.50 1923 91.16 8.50 1941 95.00 8.00 1930 100.50 7.90 1930 80.50 8.00 1941 97.50 7.75 1930 100.00 8.00 1951 97.00 7.25 1939 t 87.00- 7.30 1936 100.00 7.50 Mkt. 96.50 99.25 Circulars descriptive of any of the above Issne will be mailed to yon upon request, telephone or rail at our office. . Blyth, Witter. & Co. 7.60 8.00 8.05 7.50-15 "Write, SEATTLE SAN FRANCISCO Gov't, Municipal and Corporation Bonds YEON BUILDING, PORTLAND, OREGON Telephone, Main 8183- LOS ANGELES NEW YORK Your Interests as Well as Ours CARRY the name of the Ladd & Tilton Bank in your mind as an institution which con siders its interests ident ical with those of its customers. Every bond which we offer has been purchased by us only after the most painstak ing, expert analysis. BOND DEPT.. Ladd & Tilton Bank Oldest la the Northwest, WASHINGTON AT THIRD . 1eTrTrrTTPri.T.i.T.p i y , 33; ( . on ,v,s lvr 6 taILrcW' .... r " wvie 3l New York Fed eral Reserve Bank and Bank of England Re duce Discount Rates to 5V2. Investors! Every Bond Offered by This Bank Must Be Suitable for Its Own Investment A few months agro discount rates ranged around 7. They now h & v e dropped to 5H. It means the world is making giant strides tow ard financial recovery. And with financial recovery prices of sound, high yielding bonds, now cheap, will again rapidly advance in value. We quote from an editorial of the Jour nal of Commerce: "In six months, a year or two years whenever the inevitable return to normal conditions comes it will be discovered that the foundations of many fortunes were laid in the summer of 1931. when confidence in the future of the United States and business enterprise ran low and prop erties and securities were cheap. The man of vision finds his greatest opportunities when business is depressed and people are pessimistic Found Your Fortune. Buy Bonds Today I Yields to Over 8 Yield 6.25' 6.507o 6.25 7.35' Bend, Or., 6s 1931 Bandon, Or., 6s. ...1926-41 Tillamook 6s 1931 Newfoundl'nd6is 1936 Brazilian Gov. 5s. . Over 8.30 Write this bank for a full list of its bonds. Broadway and Oak. 330BES!E5S2S E3E3SES Li ihe Income Tax Exempt Heart CITY OF BAKER OREGON 5 BONDS Dated May 1. 1921. Due May 1. 1941. Denomination: $500. Baker, the coimty seat of Baker county, has an Indebtedness of non-revenue producing bonds of less than 3 of the assessed valu ation. Population 000. PHICE 88:52. V To Yield 6 . Ralph Schneeloch Co. UNinnVU AND CORPORATION nNANCC ujmbcsmens blhlqins Portland. Qreoom. Farm Mortgages Netting 7 Secured by improved farms in central Oregon Pacific Coast Mortgage Co. 319 Railway Exchange Bldg. ' Main 6751 of the Pakise Whitman County, the greatest grain growing section in the State of Washington, will have this year the largest wheat crop in its history and probably bringing it into the position of being the greatest wheat producing county in the United States. The City of Pullman normally handles 1,500,000 bush els of the immense crop of the "Palouee Country." Pullman is a remarkably prosperous city. It has a net debt of only $4500. On July 18 we had delivered to us a fine issue of lc,'o street improvement bonds of the City of Pullman, more than two thirds of which have already been taken by banks and private investors. These bonds will mature serially during one to ten years. Price, for any maturity, par and accrued interest, to yield full 7, income tax exempt. The price is the same lor cash or for payment on the partial payment plan par and ac crued interest. We will furnish circular on request giving you full detils. Call, phone or write. Wire orders "collect." Freeman. Smith & Camp Co. aNTUK bound ruo LUMKERMKNS BUIUDIN HFTH AMD STAKK WAT R740 Now available for delivery . $14,500 Vancouver, Washington 7 Improvement Bonds (District No. 163) Dated March 5, 1921 Denomination $500-$200 Due Estimated 1922-31 Vancouver improvement bonds have alivavs been held in high favor by local investors. The bonds of this district, backed bi property valued at $99,860, ne believe, are among the best. Phone reservations at our ex pense. Price Par and Interest Atkinson, Starkly & Zilka INVESTMENT BONDS Wilcox Building Portland, Ore. Phone Main 700 7 WE OFFKR Six Per Cent OREGON 20 -YEAR SCHOOL BONDS AT PAR Write ar phone for Details. Commerce Mortgage Securities Company Municipal Bond Departmeat, Chamber of Commerce Hid., lner-One Third Street. Main 3f7. Municipal and Provincial BONDS W offer for investment of your June and July funds a select list of foreign and domestic bonds yielding 6 to 8K Descriptive circulars upon request. WESTERN BOND & MORTGAGE COMPANY Ground Floor. Board of Trade Building Main 113. SO 4TU ST-, POBTLAXD, OR.. 1 ri i