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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (July 26, 1921)
THE MORNING OREGONIAN, TUESDAY 'JULY 26, 1921 " 19 WHEAT ADVANCE IS IT ONE HERE Drouth Reports Received From Europe, BUT FEW SALES RECORDED Ha in Reported Falling In Easter a i Oregon and TTashi ngton Seo . lion Xesterday With continued reports of drootli and , crop failure abroad, wheat experienced alight advance at the noon session of the &Irchants Exchange despite the govern ment report which gave this country the greatest wheat crop In recent years. The advance amounted to 1 cent a. bushel on the different grades, wftta the exception f red Walla, "which dropped 4 cents for pot and September delivery and 3 cents tor August delivery. The bullish reports from abroad were counterbalanced by various other factors, which prevented a substantial advance In prices here. The ability of Europe to buy wheat In large quantities except on a, credit basis is questioned here owing to the present financial conditions In those countries. The high price of the American doUar Is also another factor which Is believed will continue to keep down the Volume of trade with those countries. In addition high freight rates Is another fac tor which is being taken Into considera tion by local buyers in keeping down the price. Very little activity was reported In the country districts. The majority of the farmers are holding for prices higher than the buyers are willing to give at the present time. There Is apparent a belief among the farmers that the price of wheat xnust go higher. With conditions as they are at present, however, the dealers are slot Inclined to' take chances. A report received from Washington. D. C. yesterday by the Merchants Exchange relative to the situation In Europe said: "Prolored drouths abroad, practically world wide, promise the American farmer prosperity unparalleled, government offi cials say. Only Italy seems to have escaped the blight. As a result the problems which the American farmers have had to face during the past year by reason of Inability to market surplus products seem not only o be solved with bumper crops promised here, but prosperity for all seems assured." 'Broomhall's report, received by the Mer chants Exchange, gives the following fig ures on world's shipments of wheat and flour: "Shipments last week, 10.3S7.000 hush is; year ago. u, 953,000 bushels: season to date this year, 31.340.000 bushels; year ago 10 date, 73,01,000 bushels." The government figures, in bushels. n American visible supply received by :nants Exchange follow: . Inerae. juiy -" , wheat. .19.237,000 6.38 S OOO July 120. wheat. .16,Jil 6.000 467.000 July 28, litiy, wheat. .1.1.201.000 6 773 000 July 2ii, 1918, wheat.. 8,169.000 4.S95 000 July 25, 1021, corn. .. .18.792.000 1,4S1 000 July 2a, 1021, oats 37. 000, OOO 1.628 000 July 25, 1021, rye 1. 70S. 000 1,230,000 July 25, 1921, barley.. 1,097,000 10,000 Decrease. Reports received in Portland " yesterday from Pendleton, Walla Walla and Dayton maicaiea tnat rain was falling in prac tically ail the northwest wheat belt. Whether that will do any material dam age tcP the wheat crop depends entirely on me amount x rainfall. Any consider pie rainfall would damage the quality of milling wheat and would consequently have ome eiiecx on its marketability. Grain receipts. In cars, were announced rr the Merchants' Exchange yesterday as kouowb; Beeman, geaeral manager of the hop con trol for England, said: "The hop controller informs brewers that the stock of foreign hops already con tracted for, together with the moderate estimate of this year's crop in England, will be sufficient to meet all demands. It is undesirable that. further forward con tracts for the 1921 crop be made, as such ops are unlikely to be allowed to be im ported." This announcement Is of the ntmost Importance to hop growers in this country. Inasmuch as England is the big market for American hops at the present time. Just how much effect this announcement the hop controller will have on the future market remains to be seen, al though it Is considered here that it is bound to have a certain effect upon the present market in keeping down prices. It was announced yesterday that James Seavy, dealer of Eugene, had - sold 500 bales at 12 cents. Advices received here from California also are , that numeroui sales of last year's crop are being made there at figures ranging around 10 to 13 cents. The California growers are said to have about 16.000 bales of last year's crop on their hands, which they are anx ious to get rid of. th the arorttand Won... 62 Tear ago 45 Eeason to date. 1240 Tear ago 912 Tacoma Sat. . . 2 1 Tear ago 6 Feason to date. ?17 Tear ago 130 Seattle Sat 19 Tear ago 4 Reason to date. 220 Tear ago 61 Wheat Bar! ey.Flour.Oata.Hay. 13 3, 15 1 .... 3 1 15 14 no 3 14 43 40 46 113 2 67 6 44 8 S5 2 82 .2 13 "4 42 77 "j?6 4 24 .r 152 VOOL OPERATIONS ABE RECOVERING Xiore Msduneiy Running. According to , Government Report. one reason for the better market for Wol, especially in Boston and the eastern centers, tf shown in the report which has Just been issued by the bureau of census n conditions as of July 1. The report mows tnat with the exception of worsted combs all woolen machinery showed eo very In operation during the month of (tune. The statistics summarize reports from 10 woolen and worsted manufacturers ana snow percentages of Idle machinery " totai. reported as of July 1, as fol lows: A ide looms, 18.7; narrow looms, 35. j; carpet and rug looms. 50.7; woolen cards. Ji.d: worsted combs, 31; woolen Spindles. 20.5, and worsted spindles. 0.8. Percentages of idle machinery hours to total reported show still further recovery as compared with June 1 and May 2. Ths vniy gruuo 01 wooi macninery failing to show recovery during the month was worsted combs, machinery of this type jailing on in operation 0.1 per cent dur ing the month. A diicpatch received from Montreal de ciarea mat mere was no doubt that the Canadian wool trade is improving by de grees and thac this gradual betterment Is pointed out in different branches the trade and is backed by the opinions 1 leaders in that line. "Canadian mills are displaying more In terest in Canadian wools and several, o tne largest mills report an increase in production to meet the demand,' it was declared. Advices from Nashville, Tenn said: "There is a better tone to the wool market in Tennessee and come sales are being reported. Priees are a shade stronger and further gradual upward movement Is being anticipated." HOP CONTRACTS NOT ENCOURAGED English Coot-roller Declares Hops Already Bought Sufficient. A "fly In the ointment" for American hop growers was received yesterday In the shape of advices from London that the hop controller was advising against fur ther foreign contracts for the 1921 crop n the ground that contracts already made for foreign hops, together with the English crop, would be sufficient to meet the de mand. The advices, which were In the nature of an announcement from A. O. STEELS wi mm t - JLUtKET CLOSES rRRJEGITXAIiL,Y "WITH IDLE DRIFT. Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearlnirs. Balances. Portland ............. $4 . 824. 2ft 1 S 1.622.701 Seattle 4.535.300 1,524.787 Tacoma 419.054 1O0.9S9 Spokane 1,812,746 642.943 PORTLAND MARKET QUOTATIONS . Grain, Flour, Peed, Etc. Merchants' Exchange, noon session: Bid Wheat Jul v. Aue. Sent. Hard white gl.13 4l.il 41.11 Soft white 1.11 1.11 1.10 wmte club 1.11 1 11 1.10 ward winter 1.09 1.09 1.09 Northern spring l.o l.8 1.08 Red Walla 1.06 -1.05 1.04 uars No. 2 white feed.v-. 26.50 25.00 24.00 Barlev Brewinjr 24 00 4 0f 54 Ofl Standard feed ......... 2.00 23.00 23.00 Uorn No. 2 E. T. shipment.. 81.00 30.00 29.00 FLOUR Familv oatents. 17 SO oer bar- rel; whole wheat, 96.20; 'graham, 96.00; bakers' hard wheat, 97.25; bakers' blue stem patents. 96.75: valley bakers. S6: straights. 95.75. M1LLFEED Prices f. o. h. mill: Mill- run, 928 per ton; rolled barley. $35(&07; rolled oats, ?37; scratch feed, $50 per ton tUK.N Whole. 43S: cracked. S49 uer ton. HAT Buvlnr nrlce f o Pnrtla nd Alfalfa, $15 per ton; cheat, new. $14 ton; cio er, jii per ton ; valley timothy, new 91920; eastern Oregon timothy, 926. Dairy and Country Produce. BUTTER Cuoea. extras. 34c per pound: prime firsts, 33c; prints, parchment wrapped, box lots, 40c; cartons, 41c. But terfat, buying prices: A grade. 34c: B grade, S2c, Portland delivery. EGGS Case count, 30c; candle ranch eggs. 33c selects, 3536c. CHEESE: Tillamook, triolets, nrlce to jobbers, f, o. b. Tillamook, 20c; Young Americas, zic pound. POULTRY Hens. 1724e lb amines. Leghorns. 2225c; Rocks and Reds, 25 8c; ducks. 20 (S) 24c: eeese. nominal: tur keys, nominal. PORK Fancy, 16c per pound. VEAii Fancy, 14 c per pound. - Fruits and Vegetables. FRUITS Valencia oranges, 95.00- 5.75 per box : lemons. $11.50 61) 12.50 : eranf ruit. $3.504.50 box; bananati, 106llc pound; apples, old crop. $2 fir 2.25 oer box: new. S22.25; cherries, 6&14C pound; can taloupes, 9l.753.75 crate; peaches. $1 91.50 box; watermelons, 2ViB'3Sic pound; Honey dew melons, 92 25; apricots. 91.10 w i box ; plums. 91. oO fa 2.25 box: raspber ries, 41.50(3)1.75 CTate; loganberries, 91.50 1.75 per crate; blackcaps, 92 2.25 per crate; pears. $3.75&4 box. VEGETABLES Cabbage. 4Hc Dound: lettuce. $2.50 3 per crate; carrots, $2.50 per sack; garlic, 10 20c per pound; beets. :.so ta s.ou per sack ; green peppers. 30c per pound; rhubarb, 586c per pound; tur nips, $2.50 per sack; tomatoes, $2.25 per box; cucumbers, 65 90c per dozen; peas. lutgt loc per pound ; beans. 10 15c per pound; green corn, $4 4.50 per crate. POTATOES New Oreron. 2i2U a pound; new California, 2i(3c pound. oxiONS California red. $1.75 sack: yellow, $2 sack; Walla Walla, $2. Staple Groceries, Local Jobbing quotations: SUGAR (sack basis) Cane, granulated. 6.95c pound; beet, 6.75c pound. NUTS Walnuts. 23i25c pound; Brazil nuts, lS20c; filberts. 18c; almonds, 24 JOc; peanuts; 8nilc pound. RICfc. Blue Rose, oc per pound: Japan style. 4c per pound. HEAXS Small white, Sc; pink. 8c: lima. 7 c; red, 10c per pound. COFFEE Roasted, bulk, in drums. 14 S6Hc per pound. SALT Granulated, barrel, $3.40 4.25; half ground, ton 50s, $17.25; 100s, $16.25; lump rock, $26.50. DRIED FRUITS Dates, 94. 25 4? 6.85 per box; figs, 9J.-O&0.25 per box; prunes. 10c per pound. Provisions. HAMS All sizes. &7&39cz skinned. S4 41c; picnic, 2021c; cottage roll, 25c. BACON Fancy. 47 52c; choice. 32 37c; standard, 25a29c. LARD Pure, - tierces. 16c pound: com pound, tierces, 1214c DRi SALT Backs, 2225c; pjates, 16c. Failure of Prominent Brokerage House Suggested Process of Readjustment. NEW TORK, July 25. A fair measure of activity and strength, especially among steels, equipments and rubber, sugar and tobacco specialties, marked the opening of the week on the stock exchange. Part of this advantage was canceled in the idle drift of the later dealings, the market clos ing Irregularly, Sales 385,000 shares. Failure of a prominent brokerage house with local and Philadelphia connections suggested that certain weak features in the market' s technical position were in process of further readjustment or liqui dation, f Offerings of call money at 5 per cent, latar shaded to 5, were larger than since the disbursement of July interest and dividend payments. Time rates held firm, but intf-rior banks again bought liberally of merchants paper. Foreign exchange was the one branch of the financial markets in which re actionary conditions prevailed. The Lon don rate for demand bills fell to a frac tion under 93.57 and continental quota tions yielded variably. Trading in bonds was moderately active, industrials and rails adding fractionally to last week's gains. Liberty issues closed mostly at higher levels but internationals were mixed. Total sales, "par value. 916, 475,000. CLOSING STOCK QUOTATIONS. (Furnished by Overbeck & Cooke com pany, Portland.) Sales. High. Low. 100 44 44 H 3O0 36 35 3,500 244 24 300 Adams Exp.., Agr Chem . . . Ajax Rubber.. Alaska Gold. Alaska Juneau Allied Chem.. Allis-Chal Am Bet Sug. Am Bosch ... Am Can Co. . do pfd Am Car & F.. do pfd Am Cot Oil... Am Drug Syn. Am Hide & L do pfd ; Am Ice Am Intl Corp.. Am Linseed. .. do pfd Am Loco 300 200 1,100 00 400 4O0 600 20 900 500 1.700 31 U. 314 127 it 35 31 4 3154 2754 125 11 57 34 25 4 85 Bid. 44 "i 35 24 Vx 1 38 V, 31 V 30 33 27 SO 12554 109 18 li 57 35 14 25 V4 Hi 84 V4 SA 3.100 300 4.OO0 300 , 80 '39 4V4 11 "2614 6S 41 104 122 hi 3S 84 21 7S Hides, Hops, Etc. TAIXOW No. 1. 4c; No. 2, 23c per pound. CASCARA BARK Flvo cent. sound delivered Portland. HOPS 1820 crop, ll13o per pound. HIDES Nominal. WOOL New clip. II 21c per pound. MOHAIR New din. 16c per sound. delivered Portland. GRAIN BAGS Nine cents at country points. Oils. X.INSEI7D OTL Raw. in Darrels. 11.02: 8-gallon cans, $1.17. Boiled, in barrels. $1.04; 5-sallon cans, $1.19. TURPENTINE In drums, 82c; 5-eallon cans. $1.07. WHITE LEAD 100-lb. kess, COAL, OIL Tink, wagons barrels. 17c; cases, 30 37c. GASOLINE Tank wagona barrel, 28c; cases, 40 c. 13c per lb. and Iron &nd iron A SAFE DEALER TO SHIP TO eal. Creamery Butter Pork. Dairy Butter Poultry, Fresh Eggs Storage Egps Farm Produce, Cheese , Rl'BY Jt CO. 19 Front St. Portland, Or. In business sixteen years. HOTEL HOYT Strictly Fireproof. Near both depots aud convenient car service to all parts of citv. 8inpti Rooms AVithout Bath. 51 and nt bingle Boom With Bath. 2 and ud IXBtKT 8. KOBE. Mnuuc.r. SA5T FBANCISCO PKODCCB MARKET Prices Current on Vegetables, Fresh Fruits, Etc., at Bay City. . SAX FRANCISCO. July 23. Vegetables. Potatoes, old, nominal:- new. Garnets, 1.25g1.50; white, J1.501.75; onions, new, red, 75C85c; trreen, (1.50 1.70; tomatoes. San Pedro, small lug. 22.25; crates. 13; Merced, larpe. 2S-pound box. $2.252.50; small, $1.251.75; peppers, bell, I020c; chile, 102Oc; peas, 5jj.Sc; beans. Ken tucky Wonder, 810c; Harden. 10llc; Italian, 1213c; lima. 1012c; wax, 48c; carrots. $1.25 1.50 Back; eggplant, south ern. 79c in crates and boxes; corn, Ala meda, $34; rhubarb, $11.25 box; celery, crate, white, 5; yellow, JtJ.50; artichokes. S9W14 lue; lettuce, J2.25 crate. Poultry Toung chickens. 2545c; stagy roosters, zutffc; oia, iotxtsc; nens, 17 45c; ducks. 20c; jteese, 25c; turkeys, live, 35c; dressed, 4550c; Belgian hares, live. 13i& 14c: dressed. 1820c; squabs, fancy, 35c; pigeons, $2 dozen. Fruit Oranges. Valencia, $Sv504.75: lem ons, Jti10; lemonettes, $5.5o7.50: grape fruit. $314.25: apples, 75c&2.75: strawber ries. 50? tSOc drawer; cff' 1.50 crate; black berries, 3035c drawer, 80 90c crate;logan berries, 40g!55c drawer, lgl.25 crate raspberries. 70 85c drawer, S1.75 crate bananas. 89c pound; avocadoes. S3S dozen; cherries, 1.502.2o; apricots. 50c SI lue; l3c pound; peaches, si. Ed cantaloupes, Turlock standards, $1.503 2.25; ponies. $L251.75; flats, 7585c; fiirs. oOci single layer, si. 75 double; plums, $lg?1.50 crate; honeydew melons, crate; casaba, 4c pound; watermelons, 2 2c; grapes, 922. 2d; pears, Sl&l. Drunes. SI. 50 crate. Wheat hay. S13(S18: tame oat. S12'?!15; wild oat..1012: barley. S1012; alfalfa. $914; stock. S910. Receipts Flour, 2151 quarters: wheat, 4S35 centals: barley, 77SU centals; oats, Itfi) centals: beans. 802 sacks; potatoes, 23S2 sacks; onions, 247 sacks: hay, 950 tons; lemons, oranges, 1000 boxes; live- rnfk 345 head. Wheat Milling, fl.O0t.9S: feed. S1.90 1.95; barley, spot feed, Sl.lSlS: ship- nine. S1.301.45: oats, red feed, SI. 2d 1.35; corn, white Egyptian, $2.202.30; red MUo, 1.T51.S5; rye, nominal. Metal Market. NT5W.TOBK, July 25. Copper. Electrolytic, spot and nearby, 124 later. 1212c Tin, easier; spot and nearby. futures, 26. 60 fff 26.75c. Iron, easier; No. 1 northern, S21: No. northern, 120: No. 2 southern, $19820. Lead, steady: spot. 4.40c. Zinc, quiet; East St. Louis, spot, 4 20 5 4 25c. Antimony, spot, i-tla. do Did . . iXS Am Saf Razor 2.400 4 4 "4" 4 villi emp o V. J..4UU TV Am Smelter 200 37 do pfd Ai Steel Fdy. 700 26 Am Sugar.... 7.200 70 Am Sumatra.. 5.100 5034 Am T & T 3,400 104 14 Am Tobacco.. 2.000 124-j. do B 800 Am Wool .... 13.7U0 774 do pfd Am W P pfd Am Zinc Anaconda .... 600 3814 Assd Oil . Atchison ..... 600 84 do pfd ..... loo ..... Atl Q & W I. 6.000 22H do pfd Balto & Ohio. do pfd Beth Steel B. B R T Butte C & z.. Butte & Sup.. 100 13 Caddo OH Cal Pack Cal Pet . . . . .. 200 34 do pfd Can Pao . . . . 3.000 11314 Cen Leather. . 5.800 30 i-erro de V Chand Motor.. 4,509 50 Chi & N V. ... 700 05 Chi Gt West.. 100 7 do pfd 100 17 Chili Cop .... 100 10. Chino 500 23 H C M St P l.Doo 27 do pfd ..... 2,700 42 Coco Cola ... 5.500 32 C Sc O 1,300 564 Colo F & I Colo Southern. 300 Colo G & E... 700 56 Col "Graph ... 900 4 Con Gas ..... 200 87 Con Cigars ... 500 29 Contl Can . Contl Candy.. 4O0 Si Corn Prod... 700 67 do pfd 100 Cosden Oil ... 2.1O0 284 C H 1 & P 4,400 33 4 do A pfd... 400 75 do B pfd.... 200 64 Crucible 3.400 56'4 Cuba Cane ... 8.800 11 4 do pfd 2.700 304 Cub Am Sug.. 3,800 17 rel & Hudson. 1,000 100 ' Tome Mines.. 100 ..... D & R G 800 1 do pfd 800 2 '4 Endi Johnson. I.800 - 624 Erie 1,500 13 do 1st pfd.. 300 20 do" 2d pfd ... 100 Fam Players.. 5.500 49 Fisk Tire .... 3,000 13 Gen Cigars 5o0 Gen Elec 1,700 124U Gen Motors... 8,100 10 Gen Asphalt.. 17.B(iO KlV Goodrich 1,500 32 Gt Nor Ore.. I 700 27 do pfd ..... 200 ' 70 Grenee Can... 100 Guir S Steel. Hask Barker Houston Oil... 1,100 54 Hup Motor ... 50O 11 111 Central ... Inspiration ... 300 34 Interboro .... 800 ' 3 Intr Callahan. 200 4 Intr Harv ..." 1,300 75 Int Mer Mar.'. I.ono 11 do pfd 1,000 464 Int Nickel ... 200 14 Int Paper .... 1.500 54 do pfd ..... Invln Oil .... 600 10 Island Oil ... 2,WI0 3 Jewel Tna ... 200 9 K C Southern. 1,800 20 do pfd 400 50 Kelly-Spgfld . 21,000 4rt'. Kennecott .... HlO 19 Keystone Tire. 5.3O0 13 Lack Steel ... 3no 3y Lee Tire 200 29 Lehigh Valley. BOO 6214 Lorillurd Lowe Theaters 2,900 10 I. & N 114 Mex Pet 21.000 lo Miami 20O 21 Mid States Oil 2,200 11 Midvale Steel M K & T 200 2 do Dfd ..... Mont Power... - Mont Ward... 3"Q Mo Pacific ... 1,5(10 do pfd . 1,800 M 4 St L. . . 400 Nat .Biscuit .. jou Nat Enamel.. 800 Nat Lead . . 400 Nev Con ..... New Haven... 100 Nor & West. .. 600 Nor Pac 1.00O Nova Sco Steel N Y Air Brk. 200 N Y Central... 1.103 Okla Prod ref. 300 Ont Silver .. Ont & West. Otis Steel .... ...... Pac Dev ..... ...... ..... Pac G & E 100 53 Pacific Oil ... I,2o0 35 Pan Am Pet.. l.W'O ' 4 do B 500 4354 Penna 2,800 Peo Gas 700 Pere Marq ... 1.200 Phila Co .... 300 Pure Oil 2.000 Plerc. Arow.. 3,100 Pierce Oil . .. 700 Pitta & W Vs.. 700 do pfd Pr Steel Car Pullman ..... 1,100 Ray Coa ..... 60O Reading ..... 6.400 Remington ... ...... Replo Steel Rep I & 3. Rep Motors Ryl Bmtch Oil 4,800 Ry Steel Spg.. 100 Sears Roebuck 4,000 Shattuck Ariz. Shell T & T.. "200 Sinclair 6,300 Stand OH Cal. 400 Sloss Shef ... 100 So Pacific ... 6,300 So Railway .. 500 do pfd 200 St L & S F... 1,700 Strom Carb... 10O Studebaker .. 16,200 Swift & Co Tenn C & C. 100 Texa Oil 5.400 Texas Pac .... 200 Tex Pac C & O 1,400 Tob Products. Tr Contl Oil.. 2,600 Unon Oil Del. 3oO Union Pac . . . 2,200 United Alloy United Drug.. 800 Untd -Fd Prod. 1,400 United Fruit.. 900 Utd Rtl Stores 11.100 U S Ind Al... 2.10O U S Rubber... 22,200 do 1st pfd.. 200 TJ S Smelting U S Steel 18.800 do pfd 6,300 33 'ii" 25 18 8 28 87 12 70 85 "20 25- . 17 7 27 98 12 69 2.600 47 ' 46 61 e3i4 67 "87 20 Ji 3a 78 21 46 5 32 79 98 8 34 23 ,'19 59 . 7 19 120 60 83 67 'ii" 74 So 77 20 45 24 32 78 83, 8 83 - 23 18 66 7 19 119 Utah Co Va Chem .... , do pfd ..... Van Steel .... Vivandou Wabash do A pfd... do B pfd. ... Wells Fargo.. West Pac .... do pfd . ..v. , West Union... Westh A B... Westh E & M. West Md White Mtora.. Willya-Ovld .. do pfd ..... Wilson Pack.. Wis Central... Woolworth ... W & L E 100 100 SO0 200 400 1.100 83 16 106 66 63 65 85 "73 109 49 73 29 7 8 22 83 16 105 54 62 53 73 "73 29 7 8 22 100 100 300 00 25 -85- 44" "44 24 "85" 1,000 100 300 29 "e 85 52-4 20 SO 25 18 27 73 70 87 12 69 20 26 40 12 51 83 67 6 87 20 74 85 77 20 45 24 31 79 87 8 84 23 19 68 7 19 120 4 83 16 104 5 62 64 95 29 73 108 is 26 72 29 7 22 15 67 24 63 84H 87 43 10 81 7 80 85 29 112 8 steady. 12c 26.87c 39 48 11 112 35 "48 64 7 17 10 23 27 42 30 65 65 87 66 32 75 64 54 10 27 16 89 . '4 1 61 13 19 "4S 12 122 10 50 32 27 69 54 11 34 "" 3 4 75 31 46. 14 53 "inU 2 9 25 50 39 19 1iV4m 37 2S 52 "io' 113 103 21 10 18 21 41 12 46 76 "l8 96 74 57" 2 38 21 41 12 4 76 is 96 74 56 71 lis 100 53 35 4S 42 6 37 26 69 u 104 124 122 72 li n 98 84 78 22 79 95 39 62 49 11 4 12 V 10 34 63 112 30 26 49 64 7 17 10 23 27 42 31 55 27 37 56 V. 4 86 29 43 99 28 32 75 64 55 10 27 16 99 17 o 61 13 19 34 4S 13 68 123 10 01 32 27 69 20 29 57 54 3 1 93 34 8 4 74 31 46 34 54 80 10 2 26 50 43 19 13 38 2 62 14.V 10 313 lo.- 1 30 23 O 4! 18 21 41 ils 46 75 10 18 85 74 21 57 71 . 1 3 17 10 8 63 35 BONDS. V S 2s reg 100!N T C deb 6s... 91 do coupon ...101 N P 4s 77 U S 4s reg 104 N P 3s 55 do coupon ...104'p'Pac T & T 5s...S3 Pan 3s reg 75;Pa con 4s....85 do coupon ... 75itajS P cv 5s. ......89 AT&T cv 6s. 100 so Ry 6s 83 Atch gen 4s ... 77 iU P 4s 81 D & R G con .C4 U S Steel 5s.... 94 Bid. Liberty Bond Quotations. Range of liberty bond quotations fur nished by the Overbeck & Cooke company of Portland: Closing Liberty S ..... do, first 4s .... do. second 4s . . do first 4s .. do, second 4s do, third 4s . do, fourth 4s Victory 4s ..... do 3s High. . 87.20 . . 87.74 . . S7.38 . . 91.54 .. 87.68 .. 98.46 . . 98.46 Low. 87.06 87.60 87.30 91.44 87.54 98.40 98.44 Bid. 87.10 87.50 87.34 87.60 87.48 91.46 87.56 98.44 98.44 Mining; Stocks at Boston. BOSTON, July 25. Closing quotations: AUouez 20 Ariz Com 7 Calu & Ariz... 40 Calu & Hecla. .220 Centennial .... 7 Cop Range .... 84 FranKlln . Isle Royalle North Butte 9 Old Dom ...... 22 Osceola iQuincy ....... superior Sup & Boston. lShannon ...... 19 Utah Con Lake Copper... 2 Winona 26 37 3 1 85 3 so 47 I Wolverine ..... 10 Mohawk Money, Silver, Etc NEW YORK. July 25. Prime mercantile paper, 6fl per cent - Exchange steady. Sterling demand, S3. 57: cables. 3.57. Francs, demand 7.71: cables. 7.72. Belgian francs, demand. 7.53; cables, 7.54. Guilders, demand, 31.15; cables, 31.21. lire, demand, 4.34; cables, 4.35. Marks, demand. 1.26; cables, 1.27. Greece, demand, 6.43; Sweden, de mand, 20.45. Norway, demand, 12.U0. Ar gentine, demand, 29.25. Brazilian, de mand, 10.75. Montreal, 11 1-36 per cent discount. Time loans steady. 60 days, 90 days and six months, 6 per cent. Call monev easier: hiph and offered nt 5; low, ruling rate, closing bid: Snd last loan, 6; banK acceptances, 6. Bar silver, domestic, 99; foreign, 61. Mexican dollars, 47c. LONDON, July 25. Bar silver. 38 d per ounce. Money 3 per cent. Discount rates, short bills, 4 per cent. Foreign Bonds. Foreign bend quotations furnished by the Overbeck & Cooke company of Portland: Russian 5s, 1921. . .... ... 11 ADDITIONAL ISSUE $250,000 Portland Gas 6? Coke Company Dated January I, 1921 First Lien and General Mortgage Gold Bonds Series of "7's Due 1940" Due January 1. 1940 Interest payable January 1 and July 1 at tne office, of tne Bankers Trust Comp&nv -without dodoctioo: . for Federal Normal Income Tax not exceeding 2 per oent. Callable at tho option of the Company, on the first day of any month, on four -weeks' notice, in blocks of not less than $250,000 at 107 "4 and interest, to and including; January 1, 1924; at 103 and interest,-thereafter to lind Including January 1. 1931; and at a premium becoming- of 1 less each year thereafter to maturity. Coupon bonds of $1000 denomina tion, registerable as to principal. ' Bankers Trust Company, New York, and B. TV. Jones, Trustees OUTSTANDING CAPITALIZATION AT CONCLUSION OF THIS FINANCING Funded Debt: Authorized Outstanding First Lien and General Mortgage 7 Gold Bonds 1,050,000 $1,050,000 First and Refunding Mortgage 5s 15,000,000 6,409,000 Portland Gas Co. First (Closed) Mortgage 5s. 750,000 S71,000f M Capital Stock: Preferred 7 Cumulative Stock. . . . y v w 8,000,000 2,830,200 Common Stock ........ . . 3,500,000 8,000,000 Jfo-te't An additional $1,050,000 of these bonds are deposited with the Trustee ta additional security for th present teras of Fin Lien and General Mortgage Gold Bonds. . , Not ef These bonds are part of an authorized Issue of $750,000 of which $379,000 have been deposited ttnder tb First ajud Bn funding Mortgage, and leaving only $371,000 outstanding. i HISTORY The Company -was incorporated January 10, 1910, under the laws of Oregon, as a successor to the Portland Gas Company and the East Portjand Gas and Light Company. It does the entire gas business in Portland, Oregon, in Oregon City, Oregon, and ia fifteen other communities within a radius of about twenty-five miles of Portland. The business has been established for over sixtj years. GROWTH OF BUSINESS The Company's modern gas manufacturing plant, placed in operation in 1913, has a present dally generating capacity of 12,000, 000 cubic feet and has provision for an ultimate capacity of 20,000,000 cubic feet. To take care of available new business, additional generating capacity of 4,000,000 cubic feet per day is now under construction. The Company serves approximately 73,420 meters through about 1130 miles of mains. SECURITY These First Lien and General Mortgage Gold Bonds will be secured by deposit with the trustees of an equal principal amount of the Company's First and Refunding Mortgage 5 bonds, due 1940, andor of cash. The First and Refunding Mortgage 594 Bonds are secured, in the opinion of counsel, by a first lien on the entire plant, property and franchises of the Company, subject as to a portion thereof to $371,000 outstanding underlying bonds, of which underlying issue $379,000 additional bonds are deposited under the indenture securing the First and Refunding Mortgage 59i Bonds. The First Lien and General Mortgage Bonds will be fur ther secured, in the opinion of counsel, by a general mortgage on the entire property of the Company. The value of the physical property is largely in excess of the Company's total bonded debt including this issue. Under the trust agreement, the amount of . bonds issued is limited to 75 of the cost and value of permanent improvements, as certified by the trustees' engineer. PURPOSE Proceeds from the sale of these bonds will provide funds for improvements and extensions to the property. EARNINGS FOR YEAR ENDED JUNE 30, 1921 For the year ended June 30, 1921: : 53,214,904.86 Gross Earnings Operating Expenses (maintenance and taxes) 2,259,761.05 - 7et Earnings.. . ... w. . mvm,. . .$ 955,233.81 Annual interest on total funded debt, including new issue.... 412,500.00 Balance 542,733.81 Net earnings for the year ended June 30, 1921, are more than 2 times the annual interest charges on total funded debt, includ ing this issue. Earnings of the properties now comprising the system have shown consistent and substantial growth. All legal details incident to the issuance of these bonds Till be under the supervision of Messrs. Sullivan & Cromwell of Nev York CiJj) i RussioT. 5s, 1H21 11 Russian 51is, 102B 24 Russian 6V3S, 1019 12 French 6s, 1931 61 French 4s, 1H17 47 French 6s, 3 920 69 Italian Ss, 1918..: 32 British 5s, 11122 :33 British Ss, 1927.. 352 British 5s. 1929 344 British vky. 4s 268 British ref. 4s ...24Q Belgian rest. 5s 67 llelgian prem. 5s TO German W. L. 5s............ 10 Berlin 4s 11 Hamburg 4s 114 Hamburg 4 "As 12 Lelpslg 4Hs 12 Leipsig 5s Munich 4s ................ Munich 5s Frankfort 4a Japan 4s Japan first 4Hs Ja-pan second 4s.....:... Paris 6s United Kingdom 5Hs. 1921. United Kingdom 5s, 1922. United Kingdom 543, 1929. United Kingdom 5'ia, 1937. . 124 . 12 . 12 . 12 . 69', . Si .84 . 99 7i . . 89 '4 . 9H- .. 88 . 88 14 14 4 15 62 48 70 873 3112 354 278 256 69 72 11 "ti 13 13 13 y, 14 13 15 33 69 84-?(, 84 j 100 100 98 8S 8B PRICE: 95 and Interest, Yielding about 7.50 ilyth. Witter. L Co. " totted GOVERNMENT MUNIOPAI, AKD CORPCStfJIOH BONDS PORTLAND SEATLE NEW YORK SAN FRANCISCO , Yeon Building 812 Second Ave. 61 Broadway Merchants Exchange Building LOS ANGELES Trust and Savings Building Bulgaria, leva - Czecho-SIovakia, kronen Uenmark, kroner England, pound sterling .......... Finland, finmark ..- France, franca Germany, marks Greece, drachmas Holland, guilders ................. Hungary, kronen Italy, lire Jugo-Slavla, kronen .............. Norway, kroner Portugal, escudoa ................ Roumania, lei ............... Serbia, dinara ................... Spain, pesetas Sweden, kroner Switzerland, francs China Hongkong, local currency.. Shanghai, taels Japan, yen 4X ill! A 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 mates runas: Country. Foreign unit. Rate. Austria, kronen .......$.002 Belgium, franrw 07R3 .0095 .. .0134 .. .154 ..3.595 .. .0175 .. .078 .. .0133 .. .0505 .. .315 .. .0035 .. .0442 .. .007 .. .131 . . .1255 ., .0138 .'. .020 .. .1295 .. .208 .. .1653 .. .503 .. .7 .. .4S75 1 IN THE OPEN Cheats and swindlers keep out of the public eye. Their success de pends upon keeping out of sight. Only an honest man and an honest product dare bear a name in the open. Widely known men and produots can't misbehave, every body talks about them. "When a manufacturer puts his name on hts product, he bets the user that it is rifrht. Warrenite - Bitulithlc is an evolution of over 60 years' research and activity in construction, and bears the name of the manufacturer. $1360 Possible Profit on a $1100 Investment An unprecedented opportunity for profit by buying 4 and 5 External Gold Loan Bonds .Republic of BraziU Due to the fact that the American dollar commands v a big premium in England, we and our associates have been able to purchase these direct general obligation bonds of Brazil at prices whih will, upon equalization of exchange, return large profits to the holders. At the present rate of exchange the 5 bonds, for instance. ' YIELD 8.41,' INCREASING TO 13.35 WITH STERLING AT PAR At $1100 for a 5 500 Bond VIt Exchange at Annual Income Mat. Value Profit , 3.60 $90 " $1800 $730 4.86 (par) $121.50 $2430 $1360 (Four months ' accrued interest included.) Bonds in 100 500 1000 Denominations , Prices on application. v LUMBEEMBNS Broadway and Oak We offer and recommend United States of Brazil 5 Sterling Loan of 1903 Principal and Semi-annual Interest (May 1 and November 1 ) Payable in English Pounds Sterling Price $225 per 100 (par value $486.66) Denominations: 1000. 500 and 100 A current yield on your investment of from 8 to 108 may be obtained besides an increase in principal of from 55 to 116, depending upon the price of exchange at maturity date. These bonds are the general external obligation of the United States of Brazil, where national wealth is esti mated at over $15,000,000,000.00. We urge investors to take advantage of this investment opportunity. Write, call or phone for details. f.t.Devepeaux Company INVESTMENT BONOS er 8 nam street Portland. Oregon sroadwav 104a GROUND FLOOR WELLS -FARGO BUILDINO Wheat! Wheat! Wheat! 7 Income Tax Exempt 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 "Palouse 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 7 6treet improvement bonds of the City of Pullman, more than three fourths 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 for cash or for payment on the partial payment plan par and ac crued interest. "We will furnish circular on request giving you full details. Call, phone or write. . Wire orders "collect." Freeman, Smith & Camp Co. aooHD nem Lumbermen Building fifth and stark WAT B740 reirruMB AM FRANCISCO 1 LARGE PROFITS! Ton are offered aa amazing opportunity for money making: in ths MUNICIPAL BONDS of Europe's seventh largest city. The bonds are secured" by a di rect mortgage of S47.691.223 on city property, against -which there is an outstanding debt of only three million. A return to normalcy will In crease the value of these bonds 119 times. The country of which this city is the capital Is showing remarkable recup erative powers, and normalcy can be expected at no far dis tant future. But profits of 100, 600 and 1000 are en tirely possible within a very Bnurt time. Send foe our iateratue "31" STORY & CO., Inc 512 Fifth Ave, New Tor $50,000 City of Portland 4 Water Bonds Dated July 1, 1921 Due July 1, 1946 These bonds are a gen eral obligation of the City of Portland. Coupon Bonds, denom i n a t i o n flOOO. Principal and semi-annual interest pay able at the office City Treasurer of Portland or in New York. Price 79;75 to Yield 5.50 E.H.ROLLINS &SOSS Investment Hand BOSTON NEW YORK- CHICACO SAN FRANCISCO - LOS ANGELES Qiarthwest 'Rettresentatlve 404 COUCH BUILDING Cftlrphonc cManhall IC)S k PORTLAND Phone Your Want Ads to THE OREGONIAN Main 7070 Automatic 560-9