21
THE HORNING OREGOXIAN, TUESDAY, SEPTEMBER 13, 1921
El
E
WHEAT
CHECKS
I
' Fall in Prices Held to
. Only Temporary.
Be
BIDS DOWN 3 TO 4 CENTS
ctae put several days at prices ranging f
from SI. 85 to 11.75. A few Iota of fancy
fruit have brought still higher prices.
Peaches, which dropped as low as 55 to
60c, are now being sold at around 80 to
85c and some shippers predict they will
crowd a dollas before the close of the sea
son. Shipments from the valley are now about
73 per cent peaches, tne balance pears,
vegetables and a few apples. Total ship
menu from the Yakima valley during the
wek ended September 9 were 742 car
loads, ' of which mora than ball were
peaches.
Visible Wheat Supply Increases.
The American visible wheat supply com
pares as follows:
Bushels. Increase.
Sept 12, 1021 42.100.000
Sept. 13, 19J0 22,818,000
sept. iyi.
Sept. 18. 1918.
Sept. IT, 1817..
STOCK LIST 'HUM
SPECI ALTIES ARE A GATS' TJX
. DEB PRESSURE.
Reaction Governed by Technical
and Sentimental Considerations;
Bond Trading Is .Lighter.
NEW YORK, Sept 12. The reaction
ary course of today's stock market seemed
to be governed to an unwonted degree
by sentimental and technical considera-
8.359.000 ! tlons. Irregular reversals accompanied
1.860,000 tne lorenoons trading, but leaders made
0,243.000 8.818,000 up much, of their loss later, only to tall
i,-H,uw i1e.io,ww oacK in tne final hour.
5,520,000
0,000
Shorts evidently were disposed to re-
The corn visible Is 11,249,000 bushels, a I surae their recent operations on the heavy
Farmers Withdraw From Market
When Dollar Offers Are Xo
Longer Available.
The wheat market had another setback
yesterday and, following the decline of
Saturday, buyers were more tan ever dis
posed to go slow. Consequently the vol
ume of trading in the'local market was re
duced to small proportions.
In the ooontry, sellers were disappointed
ver the course of prices and for the most
part withdrew from the market. Farmers
who had been waiting for 1 to be reached
sold freely when that price was bid at in
terior points in the last halt of the week
and then, when the price dropped, their
ailing ceased. The opinion is genera
among wheat growers that the market will
Co higher as the season advances and that
opinion is shared by many of the dealers.
At the Merchants' Exchange wheat bids
were reduced 3 to 4 cents on ail grades
said all deliveries.
The tone of the coarse grain market was
also weak. September corn was down 50
cents and brewing- and feed barley and
gray oats 25 cents, but offers for October)
white oats were raised SO cents.
decrease of 261,000 bushels; oats, 82,402,-
000 bushels, an Increase of 1,947,000 bush
els; rye, 4,205,000 bushels, a decrease of
195,000 bushels; barley, 3,441,000 bushels,
an Increase of 509,000 bushels.
Peach Receipts Decreasing.
Peach receipts were lighter yesterday
and so was the demand. The market was
firm, however, and Elbertas sold at $1.15
to 11.25. Grapes, cantaloupes and other
frulta were steady and moderately active.
Bank Clearings.
Bank clearings of the northwestern cities
yesterday were as follows:
Clearings. Balances.
Portland J8.005.982 1 847.187
Seattle 5,543,981 1,294,350
Tacoma 602,200 146.650
Spokane 2,419,00 1.097.940
FOKTLAD MARKET QUOTATIONS
2 6 IS 6
3 1 8 19
79 4S1 810 278
27 135 118 235
18 13
1 3 3
57 243 38 204
20 189 28 187
8 io a i
4 1 1 15
44 423 .82 813
70 74 21 422
The wheat movement in Montana will be
delayed for about a week, according to a
report from Great Falls, as It has been
snowing and raining there for the last
three days. The weather over western
Canada Is also bad.
The Missouri state crop report says
wheat seeding will be only 91 per cent of
last year's, according to present indica
tions.
A Buenos Ayres cable said the weather
in Argentina continues dry, but rains are
predicted.
Terminal receipts, in cars, were reported
by the Merchants' Exchange as follows:
Wht. Barley. Fl.Oats.Hay.
Fortland Monday 140
Tear ago ...... 125
8eason to date ...7881
Year ao 3225
Tacoma Saturday 68
Year ago ...... 30
Season to date ...2688
Year ago 668
Seattle Sat. .... 53
Year ago-. ..... 90
Season to date ...1258
Year ago 740
BUTTER PRODUCTION BLOWING DOWN
Pacific Coast and Eastern Markets Gain
In Strength.
The San Francisco market during the
past week was steady to firm at practically
unchanged prices up until Thursday. The
underlying conditions of the market have
not materially changed In the past month;
however, fluctuations in prices have taken
place which appear unwarranted. Thurs
day the strong demand for the holiday
needs caused buyers to bid up prices 2H&
There were very few dealers that had a
surplus, as the demand from . Los Angeles
bad about cleaned up the street. The ma
jority of dealers think that the closing
price of 92 score at 44c is in line with
production and- genera trade conditions.
Reports from creameries indicate that pro
duction is gradually getting lighter. Re
ceipts of butter at San Francisco from out
Bide the state have been heavier this year
than last, while storage holdings are ap
proximately the same.
Eastern butter markets opened firm last
week under Influence of short supplies and
good buying support. Dealers were out of
butter and had to restock. Prices made a
good advance up to Thursday, when re
ceipts became heavier at New Tork and
the tone easier, but no markets lost gains
and the close was steady. Fine butter is
particularly scarce, due to the recent hot
weather and resulting poor quality of re
ceipts. Production lost T to 8 per cent last
week and looks lower this week in many
sections.. Eastern dealers are commenting
en San Francisco prices and, conditions as
being a bullish factor.
JONATHAN APPLE PICKING STARTS
First Carload Win Be Shipped From Ken
newlck Today.
First shipments of Jonathans have been
snade from the lower districts in the Ya
kima valley during the past week and the
Kennewlck districts began picking Jona
thans yesterday. The early cars were sent
ut for Alaska trade to catch the last
boat The Big T warehouse at Kennewlck
will begin picking apples today and ship
the first carload of Jonathans tomorrow.
The Yakima Valley Traffic & Credit as
sociation. Including shippers of about 80
per cen 7 of the valley fruit crop, has passed
a strong resolution protesting against the
action of the railroads in making the de
crease in freight rates on perishables ef
fective only to December 31. The car
riers, it is pointed out. gave relief only
after a number of hearings had been held
and the Interstate commerce commission
appealed to give relief late, and when it
was given scheduled It to end at a time
when only about half the valley's apple
crop will have been shipped.
W. B. Armstrong, president of the Wash
ington State Farm bureau, la taking an
active part In the effort to raise a fund
for advertising northwest boxed apples in
the eastern markets by urging co-operative
organizations of growers to contribute to
the fund. The short crop of barreled ap
ples presents an unusual opportunity for
boxed - apples growers to enter markets
they have been unable to sell to be
fore, he says, and they should take advan
tage of the opportunity.
Grain, Flour, Feed, Etc
Merchants' Exchange, noon session:
Bid
Wheat Sept. Oct.
Hard white 1.12 t 1.12
Soft white l.il i.u
White club
Hard Winter
Northern spring ..
Red Walla
Oats
No. 2 white feed..
No. 2 gray
Barley-
Brewing .....
Standard feed . .
Corn
INo. 2 E. T. shipment 28.00
1.11
1.11
1.11
1.07
24.00
23.50
25.50
23. 00
1.11
1.11
1.11
1.07
24.S0
23.50
25.30
23.00
28.00
FLOUR Family patents, $7.80 per bar
rel, whole wheat, XU.20: graham, X6.00
bakers' hard wheat, $7.25; bakers' blue
stem patents, $8.75; valley bakers, $6.00;
umothy. loiH.ao.
M1LLFEED Price tab. mill: Mill
run. $21 per ton; rolled barley. $34tV36;
rolled oats. $34; scratch feed, $47 per ton.
CORN Wools, $36; cracked, $39 pel
ton.
HAT Buying price tab. Portland:
Alfalfa, $15 per ton; cheat. $1212.50
oat eiid vetch. tl313.SO: clover, $10,
valley timothy, $16 G 15.50; eastern Oregon
timotny, $ is v is. &o.
Dairy and Country Produce.
BUTTER Cubes, extra, 43c per pound;
prints, parclnient wrapped, box lots, 46c;
cartons, 47c. Butterfat, buying prices: No.
1 grade. 47c; delivered Portland.
EGGS Case count, SI'S' 33c; candled
rancn, 33Q3ttc; selects, swc
CHEESE Tillamook triplets, price to
lobbers, f. o. b. Tillamook, 24c; Young
America. 25c pound.
POULTRY Hens, 13 23a lb.; springs,
25 26c; ducks. 25 28c; geese, nominal;
turkeys, nominal.
PORK Fancy. 1315e pound.
VEAL Fancy, 1614o per pound.
Fruits and Vegetables.
FRUITS Valencia oranges, $497
per box; lemons, $6.00(97.50; grapefruit,
$66.50 per box; bananas, 88tto pound;
apples, $1.25p3 box; cantaloupes, $1.50
2.50 crate; peaches, $1.151.50 box; water
melons, lhiolc pound; plums, eeioc per
pound; pears, $2:2.50 box; huckleber
ries, lOQuoc per pound; grapes, fl.eoop
2.75 per crate; casabas. 22ftc per pound;
cranberries, $6 jer box.
POTATOES Oregon, 120 per pound:
Yakima, 2jj2Kc pound; sweet potatoes,
tt 5c per pound.
ONIONS Yellow, $3103.50 per sack.
VEGETABLES Cabbage. Vt5c lb.:
lettuce. $2.5093 crate: carrots. $1.50
per sack; garlic 13i320o per poend; beets.
$2 Q 2.50 per box; cucumbers, 75c per box;
Deans, tqiioc per pound; green corn, $2
2.35 per sack; celery. 70cS 11.25 dozen:
eggplant, 710c pound: tomatoes, 73c 6 $1
dox; green peppers, B7c pound. Cauli
flower, $2 per crate; pumpkins, 3c per lb.
decrease of August tonnage reported by
United States steel after the close of
Saturday's session and the further demor
alization evidenced by German and other
European exchanges.
Another turbulent session in the cotton
market and some reduction of available
call and time funds also figured In the
unstable but fairly extensive dealings.
Sales, approximately 500,000 shares..
Last week's favorites of the oil, steel,
equipment and motor groups, notably
Mexican Petroleum. Baldwin and Ameri
can Locomotive, , Bethlehem, Crucible and
United States Steels and Studebaker sua
talned net losses of 1 to Shi points.
Sugars, tobaccos, chemicals and shippings
also registered declines of 1 to 4 points.
Metals and leathers displayed firmness.
the latter being helped by declaration of
regular dividends on Endlcott-Johnson.
Rails, especially coalers, hardened, but
eased at the end, when transcontinentals
gave way.
Dealers in exchange were prepared for
tne additional slump in German exchange,
London quoting a new low record before
the opening of this market French. Bel
gian, Italian and Spanish bills also were
down, but Swiss and Scandinavian rates
moved against this center and Argentine
remittances improved on prospects of a
loan by our bankers.
Trading in bonds diminished from last
week's activity and price changes were
mostly toward lower levels. This applied
to liberty Issues and most foreign war
flotations, but a few convertible rails
made slight gains. Total sales, pax value,
tlu.77D.UU0.
, CLOSING STOCK QUOTATIONS,
(Furnished by Overbeck Cooke com
pany, Portland.)
200
M K T.
Mont Power...
Mont Ward .. 1,700
Mo Pac 1,700
do pfd ..... 500
Nat Enamel.. SOO
Nat Lead .... 800
Nev Con 700
New Haven 200
Nor West... 800
Nor Pac 8,800
Nov Sco Steel. 100
N Y Air Brk.. 2cK
N Y Central.. 2,500
Okla Prod ret. 1,000
Ont Silver
Ont 4 West... 600
Otis Steel 400
Pac Dev
Pac G A E
Pac Oil 6,800
Pan Am Pet.. 50,000
do B 12.000
Penna 4,600
Peo Gas 9,600
Pere Alarq ... 1.000
Phila Co 200
Pure Oil .... 1,200
Pierce Arrow.. 8300
Pierce Oil ...
Pitts Coal ...
Pr Steel Car.
Pullman ....
Ray Con
20
20
39 4
35
7614
1114
15
77V4
25
65
72.
2
18
19
88
$5
74
11
14
25
5514
71
1
19
.....
1914
1,300
" 400
4.500
400
Sales.
500
High.
14
400 2014 20H
1,600
700
39
8314-
29
33
2814
200
400
1,800
loo
200 131
200 "io 14
Staple Groceries.
Local lobbing quotations:
SUGAR (sack basis) Cans, granulated. Chill Cop .
0.75 pound; beet, &.ouc pouna. 'unino
NUTS Walnuts, .Alancnurian, 2022o
pound: Brazil nuts, iswzuc; xuoerts. 15u
18c; almonds, 24 27 14c; peanuts, SQllHe
pcund.
RICE Bine Rose, oc per pound; Japan
style, 5 7c per pound.
BEANS small white, .90c; pink, o;
lima, c; rea, vc per pouna.
COFFEE Roasted, bulk, in drama. 14 a
S6I40 per pouna.
8ALT Granulated, barrel. $3.2004.05
half ground, ton 50a, $17.25; 100s, $16.25;
lump rock, tzxt.ov.
HONE X comb, new crop, $7.30 per ease.
DRIED FRUITS Dates. $4.25 per box:
figs, x-i.40ff j.ia per dox.
Advance Rum
Agr Chem . ...
do pfd
AJax Rubber.
Alaska Gold..
Alaska Juneau
Allied Chem..
Allis-Chal ....
do pfd .....
Am Beet Sug..
Am Bosch ...
Am Can Co. .
do pfd
Am Car A Fdy
do pfd .....
Am Cot Oil...
do pfd
Am Drug Syn.
Am Hide & L.
do pfd
Am Ice
Am IntI Corn.
Am Linseed...
do Did
Am Loco .....
do pfd
Am Saf Rax..
Am Shin & C.
Am Smelter..
do pfd
Am Steel Fdy.
A.m - bug . . . .
ao pid ....
Am Sumatra
Am T & T.... 3.400 10714
Am Tob ...... 1,300 126
do B 100
Am Wool .... 16,400 78
do pfd
Am W P pfd.. 600
Am zinc ..... .....
Anaconda .... 1,700 38
Assd Oil
Atchison 900 86
do Dfd 400 80
Atl G & W I.. 6,800 27 "4
Bald Loco . . . 50,900 87
do Dfd
Balto & Ohio. 7,000 40
do pfd
Beth Steel B. 2,000 55
B R T 200 10
Butte C Z.. 200 4
Butte & Sud.. 400 1314
aaao uu ....
Cal Pack '. ...
Cal Pet
do Did ......
Can Pac . . . .
Cen Leather.
Cerro de P...
Chand Motor..
Chi & N W...
Chi Gt West..
do pfd
Low.
13
38
32
"2914
33
27
io6
'20'
200
4,900
400
100
4.700
3800
600
3,100
400
1.300 "
4,000
100
S.8O0
11
62
55
81
20
"8S"
"4
6
38
25"
62
89
44
Bid.
13
. 85
05
20
89
73
29
32
27
80
I3U
109
19
43
4
11
61
63
89
41
91
103
4
6
75
37
'85
80
26
85
38
39
400
600
800
1,400 114
8,800 30
UNDERGRADE BUTTER 18 SLOW SALE
Proportion of Extras in Arrivals Is Small.
Egg Receipts Light.
The butter market was firm at Satur
day's prices. There was a fairly liberal
supply of cubes on the street, but the
proportion of top grades was very smalL
The best cubes were held at 42 and 43
cents.
Not many ranch eggs are coming on the
- market and with a good demand prices
were firm, candled stock easily selling al
SS cents.
Poultry continued weak with liberal re
ceipts of both light and heavy hena The
demand was backward, but no further
change was made in prices.
Country dressed meats were in small
aupply as usual on Monday. Prices were
steady except on the large sizes of veal,
which were hard to dispose of.
Yakima Peara Holding Up.
After a slump the Yakima peach and
pear markets both revived during the past
week. An average of 30 cars of pears per
day have gone out of Yakima cold storage
ARE YOU LOOKING FOR A DE
pESDAxtLB PRODUCE DEALER?
Veal Butter ,
Pork ' Cheese
Poultry . Eggs
Honey Any Prod net
Get our prices.
RUBY ft CO.,
169 Front St. Portland, Or.
Cixteen Years' Reliability. .
Bides, Hops, Etc.
TALLOW No. 1, 3 4c; No. SL, !2o
per pound.
CASCARA BARK Five cents a pound,
delivered Portland.
HOPS 1921 contracts, Soo per pound:
tussles. oowonuj ivv crop, zuc
HIDES Fresh cured, 44o Der pound:
call, 110 per pouna; Kip, 00 per pound.
wuoii-ew cap. 8W20c per pound.
MOHAIR New clip. 16c per pound, de.
Uvered Portland. ,
Provisions.
HAMS All sizes, 35 37c: skinned, 87 O
sue; picnic, 20c; cottage roll, 22c.
BACON Fancy, 43 50c; choice, 80c
standard. 25 29c
LARD Pure, tierces, 2327o pound
compressed, tierces, 12o.
DRY SALT Backs, 19 23c; plates. ISo.
Oils.
LINSEED OIL Raw, in barrels, 97c;
5-gallon cans, $1.12. Boiled, in barrels.
pac; o-gauon cans, 11.14.
TURPENTINE In drums, 92c: S-gallon
cans, 1107.
WHITE LEAD 100-pound kega, 12 a.
per pound.
COAL OIL Tank wagons and iron
barrels, 17c; cases, 8037o.
GASOLINE Tank wagons and iron
barrels, 28c; cases, 38c
SAN FRANCISCO PRODUCE MARKET
Prices Current on Vegetables, Fresh Fruits,
Etc, at Bay City.
SAN FRANCISCO, Sept. 12. Vegetables
Squash, per 40-pound lug, 40060c; po
tatoes, $23; onions, new yellow, I2.S0Q
3; brown. $393.25; tomatoes, $11.50;
bell peppers, 864c; beans, 46c; lima,
67c; Italian, 56c; carrots, a sack, $1;
egg plant, per pound, 8 4? 5c; corn, $2.50
3 a sack; lettuce, $1.25 a crate; celery.
$3.50Q6 a crate; peas, ifeuc a pound.
Poultry Hens, 253ic; young roosters,
2oqj-ac; 01a roosters. iagmc; young
chickens, 8238c: ducks, 2023c; dressed
turkeys, 45c; live turkeys. 35 50c.
Fruit Oranges, $45.50; lemons, $4
6: lemonettes, S23.50; grapefruit. $4
5.50; apples, J 1.75 2.50; strawberries. $1.20
31.50 per crate; huckleberries, 3040c
drawer; huckleberries, 12 raise per lb.:
raspberries, 6075o drawer; peaches, $1.75
&3.25 per lug; cantaloupes, standards, 85c
61.25; ponies, 6075c: flats. 40 75c; figs.
double layer, $1.001.85; plums. $22.50
crate; watermelons, rlc pound; grapes,
seedless, $1.251.50; other varieties, $1.25
pears, l.oo3.vc.
Dried Fruit at New York.
NEW YORK, Sept. 12. Evaporated ap
ples, nominal. Prunes firm; Caiifornias,
616c; Oregons. 8 to 18c. Peaches,
standard, llo; choice, 1212c; fancy
1415c
London Wool Market Strong.
LONDON, Sept. 12. The wool auction
sales were continued today with offerings
amounting to 8723 bales. All grades were
strong at unchanged prices.
New York 8 11 gar Market.
NEW YORK. Sept. 12. Centrifugal sug
ar. 4.88c; refined, granulated, fine, 5.600
5.65c.
Dnluth Linseed Market.
DULUTH, Sept. 12 Unseed on track
and arrive. $2.10.
Orpheum matinee today, 15c 25c, 60c
Adv.
Orpheum matinee today, 15c, 25c, 50c.
Adv.
8.300
1,400
200
400
2,000
700
7,400
1.200
200
100
200
65
49
67
7
17
11
23
27
41
10,100
100
200 ,
" 600
7,500
"i.TOO
2,500
600
67
24
6
88
29
42
7"
27'
84
76
1,300
200
2,600
1,400
- 10O
64
84
8
20
1314
200 101 .
600 17
66
13
19
700 10
2.300 12714
8,000 10
C M St P
do pfd .....
Coco Cola
C A O
Colo FA I...
Colo Southern.
Colo G & E...
Col Graph ...
Con Gas .....
Con Cigars . ..
do pi'd .....
Contl Can ....
Contl Candy.
Corn Prod ...
do pfd
Cosden Oil ...
C R I A P
do A pfd...
do B pfd...
Crucible .....
do pfd
Cuba Cane ...
do pfd
Cub Am Sug..
Dei & Hudson.
Dome Mines..
D & R G
do pfd
Endi Johnson. 21,000
El-ie 2,000
do 1st pfd... 1,300
do 2d pfd... 100
Fam Players.. 6,900
Fed M ft Sm
do pfd
Fisk Tire ....
Gaston Wms. .
Gen Cigars . .
Gen Elec ....
Gen Motors .
do 6s
Gen Asphalt..
Goodrich .....
Granby
Gt Nor Or....
do pfd . ... .
Greene Can .
Gulf 8 Steel...
Hask Barker..
Houston Oil...
Hup Motor ..
Ill Central ...
Inspiration ...
Int Agr Corp.
do pfd ......
Interboro ....
do pfd
Intr Callahan.
Int Harv
do pfd
Int Mer Mar..
do pfd .....
Int Nickel ...
Int Paper ....
do pfd
Invin Oil
Island Oil ...
Jewel Tea . . .
K C Southern.
do pfd .....
Kelly-Spgfld .
Kennecott . .J.
Keystone Tire.
Lack Steel . ...
Lee Tire
Lehigh Val ..
Lorlllard
Lowe Theater 4.S00
L & N 400 110
Mex Pet 65,200 116
Miami 1,000
Mid States Oil 6,200
Mldv Steel 1,400
11
60
55
89
20
"'
"4'
614
36 , 36
70
24 . 24
OU14 61
89 . 88
41 42
107 107
124 12D
123
76
97
24
8
87
97
80
80
28
85
88
61
63
lu
13
10
62
35
74
112
30
67
47
65
7
17
10
23
26
39
84
65
24
85
68
J
88
28
68
40
73
101
63
10
4
13
38
il2
28
64
47
66
7.
17
11
23
, 26
39
55
24
5
88
29
73
'26'"
83
76
61
82
7
19
12
100
17
63
13
19
59 57
200
43,100
400
400
3,900
100
900
"i.'o'oo
800
700
1.300
300
700
""600
700
700
600
7.200
"i.Voo
1,400
200
4,000
300
7,400 '
1.000
3.400
1,100
500
1,200
64
63
32
28
76
22
39
52
11
95
84
2
'i
79
48
14
60
.'.
2
27
61
43
20
13
41
26
53
14
21
125
10
63
60
32
28"
75
22
88
'si'
11
95
83
2
4
78
45
14
47 "
2
'hi".
61
42
20
. 12 ,
40
25
62
'13
110
113
21
11
21
33
76
65
61
82
7
19
12
100
16
1
65
13
19
13
57
5
22
9
10
63
60
32
18
27
75
22
38
58
50
11
95
83
7
88
2
8
4
78
100
10
45
14
49
80
8
2
9
' 26
61
40
20
12
40
25
52
148
13
110
114
21
11
24
Reading 22,000
Remington ... 500
Rep I ft S.... 7,100
do pfd ..... 100
Rep Motors...
Ryl Dutch Oil 4,300
Ry Steel Spg.. 600
Saxon Motors. 700
Sears Roebuck 3,800
Shattuck Ariz
Shell T ft T... 200
Sinclair 6,100
Stand Oil Cal. 200 '
Sloss Shef ... 200
So Pac 10,100
So Ry 4,000
do. pfd 1,000
St L ft S F... 1,800
Strom Carb... 600
Studebaker ... 89,700
Swift & Co
Tenn C AC... 700
Texas Oil .... 10,800
Tex Pac 1,500
Tex P C ft O.. 6,200
Tob Prod .... 4,700
Tr Contl Oil.. 8.800
Union Oil DeL 400
Union Pac . ...
United Alloy-
United Drug.. 1,800
utd rd rroa. i,suv
United Fruit..
Utd Rtl Stores
U S Ind Al... 4,200
U S Rubber... 6,700
do 1st pfd
U S Smelting
U S Steel ...
36
53
50
38
66
20
28
25
13
7
60"
97
13
71
27
61
85
85
50
46
38
55
19
28
24
12
1
'69"
91
12
69
25
49
80
51
85
8
69
20
71
87
78
21
48
24
83
78
50
84
3
67
19
71
86
77
20
47
24
31
76 .
. 8
87
25
20
69
8
18
2,400 121
100
48
17
700 109
6,900 66
8
86
24
19
67
7
17V
120 120
24
2
48
18
19
38
35
'75 '
11
15
. 96
76
25
55
71
1
t
19
10
10
55
85
61
47
88
64
19
28
24
12
7
57
58
92
12
70
25
49
85
9
49
84
S
68
7
87
19
71
30
77
20
47
24
Hi
76
97
8
36
24
19
69
8
17
48
60
do pfd .....
Utah Cop ....
Va Chem ....
do pfd .....
Van Steel ....
Vivandou ....
Wabash ......
do A pfd...
do B pfd...
West Pac ....
do pfd
West Union...
West E ft M..
West Md ....
White Motors.
Willys-Ovid ..
do pfd
Wilson Pack..
.Worth Pump.
W & L E
23,700 78
2O0 109
1,100
900
2,500
3,400
200
1,000
51
29
74
35
9
7
21
47
17
107
65
46
48
77
100
49
28
73
83
8
7
21
1,200 23 22
47
17
107
65
46
48
88
80
77
109.
60
29
73
83
' 8
7
2.1
14
22
60
82
44
9
83
6
28
40
8
BONDS.
TJ S 2s reg....100IN Y C deb a.. 93
tin coUDon .."1UU N f 4S H
U S 4s reg....104lN P 8s 56
do coupon ..104;Pac TAT 5s. .'87
Pan 3s reg 75 Pa Con 4s... 86
do coupon a r cv ds
A T cv 6s..l00:So Ry 5s 86
itrh een 4s... 78U P 4s .... 83
D ft R G con 4s 67 U S Steel 6s. .. 94
100
1,100
200
100
1,700
2,600
300
700
45
'33
6
28
87
40
43
's'3
6
28
86
39
Bid.
Mining Stocks at Boston.
BOSTON, Sept. 12. Closing quotations:
Alloucz 18
Ariz Com 8
Calu ft Ariz... 48
Calu ft Hecla..235
Centennial .... 8
Cop Range ... 84
East Butte ... u
Franklin 1
Isle Royalle ... 18
Lake Copper... 2
Mohawk 47
North Butte ... 9
Old Dora 22
Osceola 25
Ouincv ........ 37
Superior 3
Sup ft Boston. 1
Shannon 83
Utah Con 3
Winona 4o
Wolverine 11
Liberty Bond Quotations.
Llbertv bond Quotations, furnished by
Overbeds ds i;ooae company 01 raru&nQ,
iien. low. close.
Liberty. 3s 87.4 4 87.38 87.30
Llhorfv. first 4s ' ... 87.84
Liberty, second 4s '. 87.84
Liberty, first 4s 88.00 87.9 0 87.94
T.(hrt .fmnH 4V 88.00 87.94 87
Liberty, third 4s 92.10 92.02 92.04
Liberty, fourth 4 88.14 88.08 88.10
victory 4i 99.08 99.02 99.04
Victory 8s 99.00 99.06 99.04
Honey, Silver, Etc.
NEW YORK. Sept. 12. Prime mercan
tile paper, 66c
Time loans stead v. oo aays, owno
per cent; 90 days and six months, 56
pel cent.
Call money lirm; nign, low, ruling rate.
last loan and offered at 6 per cent;
closing bid, 5 peV cent.
Forgein bar sliver, t4c; Mexican aoi-
lars, 4flc, .
LONDON, Sept 12. Bar silver, 39d per
ounce: money. 214. per - cent; aiscouni
rates, short bills, 4 per cent; three months'
bills, 4 per cent.
Swift A- Co. Stocks.
Clnalnr nrlces for Swift ft Co. stocks at
Chicago were reported by the Overbeck ft
Cooke company of Portland a follows:
Swift ft Co 96
Ltbby, McNeil 4 Llbby 8
National Leather ..7V,
Swift International 23
New York Bonds.
New York bond Quotations furnished by
TTorrin ft Rhodes. Inc.. ot Portland:
.Maturity, i-rice.
Am Tel ft Tel 6s 1922 99
do 6s
Am Tnh 7a 1922 101
do 7s ....JU3 lUltt
Annnnnda 7s B 1929 94
Anaconda 6s A 1929 87
Armour cv 7s 1930 98
do 4S 1U3U 82
Argentine GI 5s ..1945 71
Am Ag Chm 7s 1941 96
Ttnth Steel 7s 1922 10O
do 7s I'1- "31a
do en 7s 1933 5
Belgium ext. 7a
do 6s
do 8s
Bergen 8s. city of
Berne 8s, city of
Brazil 8s
Canadian 6s
do 5s
do nat eq 7s
Chicago, N W. 7s
C M ft St P gn & rf 4s A
Can Nor 7s
Chile 8s
Christiana 8a city of
Copper Exp 8s
do Ks
do 8s ,
rin 8a
Cuban Amer Sugar 8s . ...
Con Gas cv 7s
Diamond Match 7s
Denmark 8s ................
Danish Man 8s
Dupont 7s 1931
French ext bs
French 7s
Grand Trunk 7s
Goodyear 8s ..........
Gulf Oil 7s
Great Northern 7s ....
Hershey 7s
Humble Oil 7s 1923 97
Int Rap Tr ref 5s 1966 64
Int Mar CT 6s 1941 78
Kennecott 7s 1930 SS14
Llbby. McNeil A Llbby 7s 1031 '95
Morris ft Co.. 7 Vis 1930 99
Mexican Pete 8s 1936 96
NYC call 7s 1930 108
Norway 8s 1940 104
Northwest Tel 7s 1941 103
Ohio C G 7s ...1925 94
Pan Amer 7s 1930 90
Penna 6s 1936 100
N P ft G N (Jnt) 6s ....1936 106
San Paulo 8s 1938 98
Southwt Tel 7s 1926 97
Swedish Govt 6s 1936 89
Standard Oil N Y 1931 104
NEW ISSUE
$3,500,000
Standard Gas & Electric Company
Secured lh Sinking Fund Gold Bonds
To fee dated September 1, 192!
To be due September 1, 1941 )
PtJrrmahh ca m ho!e or in part of th option of iht Company upon 60 Jay' node al I0TV ani Merest prior to Sepianitr I, 1 926 and
thereafter at less for each tttccetding year. Interai payable teml-annually March I tt ana" Scpttmbtr I
In New York or Chicago. Principal payable In New Yon.
Coupon Bonds in denominations of $1000, $500 and $100 with the privilege of registration as to principal only.
Interest payable without deduction for Normal Federal Income Tax not in excess of 2. Pennsylvania foul mill tax refunded
upon application to the Company.
The NeU) York Trust CompcrQ), Truslea
From a Utter signed by Mr. Arthur S. Haey, Vice President of the Company, the fallowing salient features are summartzeJi
Company Standard Gas & Electric Company and its
subsidiary companies constitutes one of the largest
Cublic utility and management organizations in the
Fnited States. The utilities are mainly electric and gas
f roperties serving a population of approximately
,135,000 in 533 communities including Minneapolis,
St Paul, Lovdsville.Tacoma, Mobile, Oklahoma City, San
Diego, Stockton and other important cities. Only 3
of the Gross Earnings are derived from traction service.
CoareraZ5ecnrify-.These $3,500,000 Secured 7H
Sinking Fund Gold Bonds, to be due September 1st,
1941, will be a direct obligation of the Company.
Pledged as part collateral security for these bonds will
be the entire authorized and outstanding capitalization
of the Byllesby Engineering and Management Corpor
ation, including contracts of that company, extending
beyond the life of these bonds with the public utility
subsidiaries of the Standard Gas fic Electric Company
these contracts covering the management ana the
supervision of the operation and construction of their
properties. These services are indispensible to the
public utility subsidiaries, and the charges of such
services are included in operating expenses and
roperty accounts of the public utility subsidiaries,
he charges for these services in the past five years
have averaged an amount in excess of the present
$300,000 annual sinking fund requirement and the
annual interest requirement on these $3 ,500,000 bonds.
There will also be deposited as additional collateral
security $2,019,000 face value Bonds and Notes and
$4,9 1 2,800 par value dividend-paying Preferred Stocks
of companies in which Standard Gas & Electric
' Company has investments. The total appraised or
market value of the securities to be deposited is in
excess of $8,700,000.
Purpose of Issue The proceeds from the sale of
these $3,500,000 Bonds will provide funds toward the
payment of $3,107,500 7 Convertible Sinking Fund
Notes due November 15, 1921. The Company has
deposited cash to pay the $620,000 7 Collateral
Trust Notes due September I, 1921.
Earnings The annual net revenue from collateral
to be deposited is $1,402,000 or over five times
the annual interest charges on these $3,500,000
Secured 7 Sinking Fund Gold Bonds. The net
revenue of the Company is in excess of 2.6 times the
annual interest charges on the total funded debt of
the Company, including this issue. Approximately
98 of the earnings of the Company are derived from
the Company's holdings of public utility securities.
Sinking Fund Trust agreement will provide for
sinking fund of $300,000 per annum for the first three
years commencing December I, 1921, calling for de
posit with the Trustee.of $25,000 on the first of each
month. Commencing December I, 1 924, Sinking Fund
payment will be $160,000 per annum on a quarterly
basis. Sinking Fund monies are to be used for the pur
chase of Bonds of this issue at lowest prices tendered
up to the redemption price. Total cash payments to the
sinking fund will exceed before maturity the total
present issue of $3,500,000 bonds.
Equity These$3,500.000Secured 7H Sinking Fund
Gold Bonds and $6,500,000 Convertible 6 Bonds
due 1926 are senior to $8,790,650 unsecured Notes
due 1935, $12,667,400 Preferred Stock regularly paying
8 cash dividends and $12,679,550 Common Stock.
The present market value of these junior securities is
in excess of $18,000,000.
All legal matters pertaining- to this issue will be subject to the approval of Messrs. Cummins, Roemer & Flynn of Chicaro and
Messers. Winston. Strawn & Shaw of Chicago. Tho accounts of the Company are audited annually by Hasluns & Sells, Certified
Public Accountants.
We offer these Bonds for delioery when, as, and if issued and receioed ly us.
PRICE, 94 and Interest, to Yield over 8.10
. Federal Securities Corporation
Chicago
H. M. Byllesby & Company
Chicago
Tie information eortalmi hattn b iuiotifrom mora which we KgarJ of ittaUt. enJallitakmtna at tha eJarllmmtnl ere tarn J open mch information.
Hambleton & Company
Baltimore New York
Stand Oil of Cal 7s
Steel & Tube 7s. ..
Swiss 8s
Sears Roe 7s
do 7s
Solvay 8s .........
Swift & Co 7s
I'n Tank 7s.......
U S Rubber 7tts ...
Wilson 1st as
West Elec 7s
Westlnghouse 7s ..
Zurich 8s
19R1 1M
1331 I2
1949 108
1A22 f8
11123 98
1!)27 S
11)25 98
1930 101
1930 994
192S 82
1925 100
1931 102
wis ioi y.
1945 103
1923 95
..1940 102
..1945 100
..1945 101
..1941 99
..1920 94
..1931 90
..1935 10'J
. .19:10 103
..2014 59
..1940 104
..1941 9
,..1945 101
..1922 101
..1923 100
..1924 101
..1925 101
..1931 99
..1925 101
..1935 1 04
.1945 103
.1945 102
98
..1943 1U1
.1941 96
.1940 103
,1941 102
,.1933 99.
.1936 102
I93U
Twenty-five Consecutive Dividends
Northwestern Electric Company which has re
. . cendy paid the twenty-fifth consecutive dividend to its
v preerred stockholders is offering its First Preferred
Stock, yielding 7.37 per cent on the investment. A
Special Savings Plan with interest-bearing partial pay
ments is provided. Telephone, call or write for free
illustrated booklet, " Hydro-Eledric Dividends and
How to Get Them." Address
This
offering
is limited
to 10,000
shares
Northwestern Electric Company
J. CTAVAJtES, StoJt Sales Manager
10th and Washington Streets, Portland
. Telephones: Broadway 500 Automatic 567-47
This Is No. 13 of a series of advertisements
Foreign Bonds.
Foreign bond quotations furnished by the
Overbeck as Cooke company of Portland:
ism. ASK.
Rnssian 5a 1921
Russian 5s. 1926
Russian s. 1919
French Bs. 1931 ..
French 4s, 1917 ..
French Bs, 1920 ..
Italian 5s, 1918 ...
British 5s, 1923 ..
British 5s, 1927 ...
British Bs, 1929 ...
British vky 4s ....
British ref 4s
Belglnm rest 5s .
Belgium prem Bs .
German W It 8s ..
Berlin is
Hamburg 4s
Hamburg 4s ...
Leipsig 4s
I.eipsl? Bs
Munich 4s
Munich 6s .......
Frankfort 4s-
Jap 4s
Jap first 4a ....
Jap second 4a ..
Paris 6s ,
V K 5s, 1921 ...
V K 5s, 1922 ...
U K 5A 1929....
U K BS, 1937 ...
B
.. 4
.. 17
.. 62
.. 72
.. SO
. 32
..S78
..sua
..3)12
..283
..263
.. 67
.. 70
.. 9
.. 10
.. 10
...11
.. 11
.. 12
.. 11
.. 12
.. 12
.. 72
.. 86
.. 86
..
. . 99
.. 98
.. 90
.. 88
8
6
19
64
72
50
83
883
872
873
293
273
69
70
8
11
11
12
12
13
12
14
13
72
86
88
100
100
' 98
90
89
Foreign Exchange.
Foreign' exchange rates at the close of
business yesterday, furnished by North
western National bank of Portland. The
amount quoted is the equivalent of the
foreign unit in United States funds:
Country. , Foreign unit. ' Rate
Austria, kronen .$.0014
Belgium, francs 0725
Bulgaria, leva 0002
Czecho-Slovakla, kronen
Denmark, kroner
England, pound sterling
Finland, finmark
France, francs
Germany, marks
Greece, drachmas
Holland, guilders
Hungary, kronen
Italy, lire
Jugo-Slavia. kronen
Norway, kroner
Portugal, escudos
Roumania, lei
Serbia, dinara
Spain, pesetas
Sweden, kroner
Switzerland, francs
China: Hongkong, local curency.
Shanghai, taels
Japan, yen .
, .0573
.818
.0(121
.0433
.0054
.1315
.105
.0008
.0215
.1815
J 17-1
178
.5225
.71
.49
. NEW TORK, Sept. 12. Exchange, irreg
ular; sterling demand S3.73, cables
$3.73; francs, demand 7.20, cables 7.21
Belgian franca, demand 7.09, cables 7.10;
guilders, demand 81.66. cables 81.72; lire,
demand 4.28. cables 4.27; marks. 92.
cables 92; Greece, demand, B60; Sweden,
demand, 21.62; Norway, demand, 13; Ar
gentine, demand, 82; Brazilian, demand,
12.87; Montreal, 10 per cent discount.
Rates were still lower for some remit
tances in ths lata dealings. Sterling de
mand $3.71. cables $3.72; guilders, de
mand 81.70. cablea 81.76; marks, demane
.81, cablea 91.
Metal Market.
NEW TORK, Sept. 12. Copper, steady.
Electrolytic spot and nearby, 1214c; later,
12 12c.
Tin Firmer, spot and nearby, 26.75c; fu
tures, 27.00c
Iron Steady. No. 1 northern, $21922:
No. 2 northern, $4)021; No. 2 southern,
$19019.50.
Iead Steady, spot. 4.60c.
Zinc Quiet. East 8L Louis, spot, 4.23c
Antimony Spot, 4.50c
LONDON. Sept. 12. Standard copper, 1
spot. 07 7s 6d; electrolytic, 71 10s; tin,
150 2s 6d; lead. 23 12s 6d; zinc 24 15s.
of 10 to 21 polnta Sales were entlmated
at about 88.000 bags, September 7.80c,
October 7.80c, December 7.03c. January
7.72c, March 7.830, May 7.98c, July 8.11c.
Spot coffee was reported In fair de
mand with quotations on the basis of 7c
to 8c for Rio 7s, and 10c to llo for
Santos 4a
Naval Stores,
SAVANNAH, Ga.. Spt. 12. Tnrpentlnd
firm, 64o: sales 403 barrels, receipts, 837
barrels; shipments 830 barrels; stock 10.352
barrels.
Rosin firm Snips 912 brr!, rrlpt
111ll1sllll'IHI""""""'"u,'J "S
Why
133 barrels, shipments 848S burreln. stnrk
73,703 barrels. Quote: H, I, 14; K. $4 03;
F. 4 2; G, II. 1125: I, $4 3l: K. 14.40;
M, $4.50; N, $4 60; WO. 5; WW, $3.50.
ration Market.
NEW TORK, Sept. 12. Spot COttOB.
n"l't. mlrMlmir, 19Kwr
Before Buying
Property-
1
Coffee Futures Easier.
NEW TORK, Sept. 12. The msrket for
coffee futures was easier today under
realising or liquidation after last week's
advances and some trade selling which was
supposed to be against the cheaper offers
from Victoria. The market opened at a
decline of B to 8 points, rallied slightly
.tv, .ft the call on further covering,
?i;5 ' but soon weakened again with December
selling off to 7.00c ana juarca to 1.00c, or
14 to 26 points net lower. Last prices
were within 8 to B points of the lowest
with the market closing at a net decline
1775
3. 78
.015
.073
.0098
Idaho Falls Ships
7500 Carloads of Produce
This busy city of 10,000 people is the largest out
bound shipping point in Idaho, because it is in the
center of an immense agricultural region which
includes 1,300,000 acres of producing irrigated
lands.
We have only a limited amount of these
-" 6 and 6 Improvement Bonds and
therefore urge prompt reservations.
Idaho Falls, Idaho
Est. Mat. 1 to 10 Years. Den. $100, $500, $1000
Prices to Yield
Income XiUMBERMENS
Exempt tjst(3A2st-BANK
Broadway and Oak
T
That which promises most
does not necesarily per
form best.
We have a list of depend
able bonds that will re
turn you from 6 to over
8 as certainly as it is
humanly possible to assure.
Municipal bonds are the
safest investment you can
obtain. The bonds we of
fer are bonds we own and
that we have purchased
after the most exacting
scrutiny. Our reputation
is behind them. Our rep
utation is the most valu
able asset we have. May
we be of service to you?
Call, phone or write.
mail this corrox"""
Freeman Smith & Camp Co.,
Fortland, Or.
Please send me details of
your Investment account
plan.
Name.
Address.
I r
0 V. V,' .-.--':
ir
ylVtr Freeman
igPp SMITH
CAMP
Co.
wound noow
UntSSSMCMS BUtLBIM
sir ana sraac
14S
A SURE THING!
It .a con rv tlve tr nay thnt lh m
jrln?r or public off i i t .4.1 who won't
give preference to W A H K I'N IT K - HIT l'
MTH1C i the one who hnn not trie-l
it! "Any trud that In not n.-iHu'drtory
to th t.inpnyor in not ;it iwfnrtiry t i
u." is a concise way of xpn'mit tho
principle nf Wnrrn UrothTu !ompnriy.
Thu principle of mutual mT mfn-t ion H
the fnundiitlnn of Warren it o- HI I mi t hit
nuccena. Thert-l'orn. people may put
their road problrma into th hunda of
Warrenite-Itltulit hie entrfnoers with a
fnellnK of nnaniut conf loVm In the
future. The principle if denim with
all part lea for over ft" yeara in hioiut'
tulrneta and taking advantage of non
hna brouirh t the bus'nefa nf Warren
Hrnthera Company to It pre-nt pruu 1
prtnition In the enxlnferinjc tl Id.
HERRING RHODES, h
Etiibllr.hed 1K90.
BROKERS
New Tork Flock. Hnil. Grain. Cotton.
Frivate Wtrrs. Mriiihrra tblcaita
tSwrd of Trade.
201-8 Runway Klctmnse Bldg.
Tslepnon Main ila-:ib
HOTEL HOYT
Strictly Firrproof. Near both depots
and convenirnt car service la
all parts of city.
Hlnrle Room Wil limit llutli, l and an
binslc 1 .. With Itiilli. t! anil up
EI.ltfcKT H. KOllK. Munanrr.