23
THF MORNING OREGONTATT, TUESDAY, DECEMBER 13, 1921
WHEAT BIDS LOWER
ON ALL GRADES
Firmer Freights and Bulge in
Sterling Depress Market.
EXPORT OFFERS TOO LOW
Better Grades Taken for Milling
Purposes Southwest May
Want Soft Grain.
Wheat bids at the local exchange were
1 cent lower on all grades except northern
spring, which was down 2 cents as com
pared with Saturday. Not only was the
feeling weak, but the market was quiet at
all points
There was some demand from the mills
and It Is probable that the best grades of
milling wheat will continue to hold tholr
own, but the export varieties are not
wanted at the present time and are the
weakest on the list. There Is no export
Inquiry, except at prices too low for ship
pers to consider, as the cheapness of
Argentine offerings has closed the only
available outlet for Pacific coast wheat.
Europe may some time resume buying, but
how soon that will be after the turn of the
year remains to be seen.
There are indications that mills In the
southwest will sooner or later come Into
the market for our soft wheat, as they do
nearly every spring. Even a maximum
business with that quarter, however, win
make only a small Impression on the large
surplus left In the Pacific northwest. Ex
port trade in large volume will be re
quired to clean up the remainder of ths
crop and this must be done at prices based
on the competition of other exporting
countries.
The evident upward tendency of ocean
freights Is also a factor that is governing
wheat prices In this territory. With ship
owners claiming that the recent 30 shilling
rate meant a financial loss to them, ex
porters have made up their minds that
they must psy more for transportation.
The bulge In the sterling exchange market
yesterday also had effect In depressing
wheat.
There was but little doing in the coarse
grain market. Oats and corn were un
changed on the local board and there were
no bids for barley.
World shipments of wheat and flour
last week totaled 9,716,000 bushels Includ
ing 720,000 bushels to India and 400.000
bushels to Egypt. Of this total North
America shipped 7,160,000 bushels.
Liverpool wheat closed 1 d, corn 1 to
IMd lower, The market Is now steadier
on the smaller world's shipments. Buenos
Ayres wheat to c lower.
Terminal receipts. In cars, were reported
by the Merchant's Exchange as follows:
Wheat Barley Flour Oats Hay
Portland. Mon. 317 1
81
Tear iiro 47
Season to date. 181 30
Tear ago 8010
Tacoma. Satur. 42
Tear ago 4
Season to date. Alfl4
Tear ago 2946
Seattle. Satur. 32
Tear ago 17
Season to date. 4628
Tsar ago 2906
8
128
163
78
43
1
1
121
165
1168
406
8
8
820
468
10
1223
182
I
4
508
204
1
82
70
272
231
17
28
865
1035
5
"462
504
5
7
803
970
MORE AUSTRALIAN BITTER COMING
Another Shipment Will Reach the Coast
December 26.
The San Francisco butter market was
unsettled and weak and prices continued
on the down grade until Wednesday. Mon
day and Tuesday the 02-score sold for 40c,
the lowest level since the middle of Au
gust. The surplus Australian butter was
cleaned up and dealers became more crit
ical on California butter, refusing to ac
cept anything that did not grade up to
standard. As there was very little really
fancy butter available, the market at once
became firm, and trading was active from
Wednesday on. Prices on 92-score show a
net gain of 2c from Friday to Friday. Re
ceipts at San Francisco have been much
lighter and dealers expect an active mar
ket at least until the arrival of the next
ateamer from Australia, which Is due De
cember 26. Australian butter for January
delivery, duty paid, is being offered at
85c. Some of this has been bought and
wilt tend to hold prices steady. Storage
"holdings on the Pacific coast are approxi
mately 1.300,000 pounds short of last year.
Due to the shift of buyers from fresh
to storage butter and some cut in con
sumption, the markets In the east opened
weak and unsettled. The weakness was
not so acute as during previous periods
of depression and soon gave way to firmer
markets That the shift to storage was
pretty heavy Is indicated by the heavy
reductions In the four markets. The pre- I
It mi nary report for the United States also
showed a fair movement and the decrease
under last year was cut, but this was du
to slow movwnent of storage goods during
the early part of November. Supplies on
the eastern markets are -not heavy, fancy
butter always being well cleaned up, and
accumulation was only on medium grades.
Wintry and feed flavors throw much of
the fancy butter Into the medium-grade
class. Receipts of poor butter were also
light. Arrivals of foreign butter amount
ed to 703 casks and 400 boxes of Danish
and 100 casks of Holland butter.
slow in all leading producing districts
I Country prlcea In Maine. Wisconsin and
j Colorado are unchanged. Bplk Greei
Mountains in the Presque Isle section held,
at $1.31 to 1.40 f. o. b. a hundred pounds
mostly 81.36. Wisconsin bulk Round Whites
brought growers $1 cash at warehouse, and
Rural a In Colorado sold for 90c a hundred
pounds, wagonloads, cash to growers. Simi
lar sales of Rurals in Idaho ranged 73c to
83c. Sacked Round Whites at New York
and Michigan shipping points lost 10c and
80c, respectively, ranging $1.42 to $1.52 In
Michigan and $1.65 In western New
York. City mark ts have been dull.
Eastern stock In bulk ruled 12 to $2.15 In
New York city. Malnes were firm In Bos
ton at $1.85 to $1.95 a hundred pounds
aacked. Carlot sales of sacked northern
Round Whites In Chicago gained 10c, clos
ing at $1.65 to $1.75, bulk stock bringing
a premium of 10c on account of conditions
of sale. Red River Ohlos In sacks closed
strong at $1.60 to $1.70, a gain of 20c
Moderate Decrease in Wheat Values.
The American visible wheat supply state
ment compares as follows:
Bushels
December 12,
December 18,
December 15.
December 16,
1921..
1920. .
1919..
1918..
December 17, 1917..
. 47.S87.0O0
. 48,408.000
. 85.084, 000
.111,255,000
. 25,361,000
Decrease.
426.0O0
EXCHANGE RISE FEATURE
TK.1IX; IX STOCKS BROAD
WD CLOSE IS FIRM.
Bonds Less Active and Irregular.
Tendency of Money Market
Is Upward.
:, 043. set
811. 0O0
IncreaH.
The coarse-grain visible on this date and
a year ago compare:
Bushels.
Corn 1821 13.950,000
1H20 4.39.000
Oats 1921 68.1M.000
1820 81.J48.U00
Rye 1921 6,2.10.000
1820 8.743.000
Barley 1821 8.423.000
1920 8.800,000
Decrease
43-', 000
58.000
1,060.000
632.000
580.000
367,000
160.000
201.000
Increase.
The Canadian wheat visible this week
decreased 4,000,000 bushels.
December Crop Report Dates Changed.
The date of Issuance of the December
crop report, giving- latest acreage, yield
per acre and production figures for staple
crops In 1821 and revised figures for 1819
and 1920 has been changed by the secre
tary of agriculture from December 18 to
December 28, and the date for the Issu
ance of the estimated acreage and condi
tion of fall-sown wheat and rye has been
changed from December 17 to December
29. This postponement of dates Is made
to enable the crop-reporting board to com
plete the work of revising the acreage,
yield per acre, production and valuation
figures for the principal crops In 48 states
for the years 1919. 1920 and 1921 on the
basis of the last census.
N'EW YORK, Dec. 12. Today's busi
ness on the stock exchange was over
shadowed by the buoyancy of foreiga ex
change. Strength of International credits
was primarily associated with events at
the arras conference.
Sterling roso almost 10 cents to 84.23S.
Its maximum in more than two years. Ad
vances of 33 to 30 points were registered
by other allied remittances and neutrals,
notably Dutch and Spanish, were almost
50 points higher. German marks were car
ried forward despite announcement of
further disastrous bank failures In some
former financial strongholds of that country.
S ZSf MM) 1 Hrkl at .000:!, were almost 100 per cent
2lTflo00 1 oove October's low record. Latin-Ameri
can exenanges aiso were maienauy u,.in.
notably bills on Argentina, Brazil and
Uruguay.
Stocks were hesitant at the outset, mixed
or irregular at midday and steady to firm
towards the close, when pressure against
rails and most of the representative In
dustrials and specialties relaxed. Sales
were 675,000 shares.
Money tendencies were firmer, aitnougn
call loans held at 5 per cent until Just
before the close, r4 per cent then being
demanded. A 3 per cent rate was main
tained for 30 and 60-day bills, as against
last week's fractional concessions.
Bond trading was less active and again
Irregular as a result of further realising
ale. T.lbertv And most other domestic
f Issues were disposed to ease. The foreign
group was featured by the strength ot
Japanese 4s, City of Toklo 5s and United
Kingdoms of 1928. Total sales, par value.
118,730,000.
CLOSING STOCK QUOTATIONS.
(Furnished by Overbeck & Cooke com
pany of Portland.)
Sales. High. Low.
700 BUk 30V4
3,000 31 20
200 38 58
7,200 20 1814
Hunk Clearings.
Bank clearings of the northwestern
cities yesterday were as follows:
Clearings. Balances.
Portland 13.773.808 II. 612,421
Seattle 5.376.624 1,154.660
Tacoma 52S.S4S 7.881
Spokane 1,848.441 802,481
PORTLAND MARKET QUOTATIONS
Grain, Flour, Fred, Etc.
Merchants exchange, noon session:
Whest-
Bid
Dec. Jan
f 1.08 8 1.08
1.07 1.07
1.07 1.0T
1.07 1.07
1.08 1.08
1.02 1.02
27.00 27.00
26.00 28.00
26.00 20 00
23O0 25.00
Soft white
White club
Hard winter
Northern spring
Red Walla
Oats
No. 2 white feed
No. 2 gray
Corn
No. 2 E. T. shipment..
No. 3 E. Y. shtoment...
FLOUR Family patents, $7 per barrel;
whole wheat, 16.20: graham. 96; bakers'
hard wheat, $7.05; bakers' bluestem pat
ents, 16.55; valley sofe wheat, 13.60;
straights. 15.25.
M1LLFEBD Price f. o. b. mill: Mill
run. 20 per ton; middlings, 934; rolled
barley, 934036: rolled oats. 936, scratch
feed, 948 per ton.
CORN Whole, 34; cracked, 936 per
ton.
HAT Buying price f. o. b. Portland:
Alfalfa. 914 30 per ton; cheat. 91212.50;
oat and vetch, $14.500 15; clover, 912:
valley timothy. Its 13.50; eastern Ore
gon timothy, liaS 18.30.
Dairy and Country Produce.
BUTTER Cubes, extras. 4142c lb.;
prints, parchment wrapped, box lots, 44c,
cartons 43c. Butterfat buying prices. No.
1 gratis, 42c, delivered Portland.
EtiOS Buying pflce, 4243c; Jobbing
prices, case count. 43tt'44c; candled ranch.
47jP4Hc; association firsts, 48c; association
selects. 58c; association pullets, 45c.
CHEESE Tillamook triplets, price to
Jobbers f. o. b. Tillamook, -'tic. Young
Americas. 2c pound.
POULTRY Hens. 18 26c; springs. 21c;
ducks, 2026c: geese, nominal; turkeys,
live, nominal; dressed No. 1, 42c lb.
PORK Fancy 12c per pound.
VEAL Fency, ISHc per pound.
TOP GRADE BUTTER IS SCARCE
Extras Firm at 42 Cents; Shipping Orders
for Turkeys.
The butter market was firm at the open
ing of the week and the best cubes sold
at 41042 cents. There was a fair supply
of under grades, which were generally held
at 40 cents.
Eggs were steady with no changes re
ported In the buying or selling prices.
A few small orders for dressed turkeys
were received for early shipment and this
strengthened the market. The best birds
sold at 42 cents. Live poultry receipts
were small and Saturday's prices were
repeated.
There was a good demand for dressed
vsal and few were offered. Pork Is con
sidered too low in relation to live hogs,
but no change was made in the price yesterday.
POTATOES SLOW IN MOST MARKETS
Shipping Movement Throughout Country
Larger for Week.
The iow point of the potato movement
apparently wns reached during the week
ended November 26. at 2258 cars. The
shipment figures rose to 2600 cars last
week, of which 2457 cars were from lesd
Intt Maine crop sections. During the cor
responding period last year nearly 2800
carloads were forwarded.
The demand and movement have been
LAMBS
Slnrket Very Firm.
Price 17H-18c on fancy Iljrht
Rush all lamb and mutton you can
g-et. Veal also firm. Daily re
turns guaranteed.
Till: I t t 1NAR CO.. INC..
lOO Front St.. Portland. Or.
Fruits and Vegetables.
Local Jobbing quotations: s
FRUITS Navel oranges, 94 50 6 23 per
box; Japanese oranges. 92.50 per bundle;
lemons, 936: grapefruit. 947 per box:
bananas, 89c per pound; apples, 91 4
per box; pears, 922.25 per box; grapes,
California Red Emperors, 124c per pound;
casabas. 88ttc per pound; cranberries.
Oregon. 97 per box; eastern, 92223 per
barrel: pineapples, 97.50 per case.
POTATOES Oregon, 9I.752 per hun
dred: Yakima. 922.25 per hundred; sweet
potatoes, 4Vs5c per pound; Arkansas, 93
per crate.
ONIONS Yellow. 4.50 3 per hundred
VEGETABLES Cabbage. lfc 2c per
pound; lettuce, 938.50 crate; carrots.
91 50 per sack, garlle, 12415c per pound;
beets, 91-502 per sack; cucumbers. 92
2.20 per doxen; celery, 60c$l per dozen;
green peppers, 20c per pound; cauliflower,
922.35 per crate: pumpkins, 2v3c per
pound; squash, 243c; sprouts, IT1,.';
turnips, 92 per sack; parsnips, 92 2.50
per sack.
Staple Groceries.
Local Jobbing quotations:
SUGAR (sack basis) Cane, granulated.
6.05c pound; Brazil nuts. 18 20c; filberts,
20025c: almonds, 1827toc; peanuts. 10
ilSc per pound.
NUTS Walnuts, new crop, soft shell.
2StS6c pound; Brazil nuts. lSV20c; fil
berts, 2023c; almonds, 91827ic; pea
nuts, 10 HHc per pound.
RICE Blue Rose, 6Hc per pound; Japan
style, 6c per pound.
COFFEE Roasted, bulk, in drums, 18
85c per pound.
SALT Granulated. bales, S204.0ft;
half ground, ton. 50s, 917.20; 100s, 916.23.
HONEY Comb, new crop. 95.75(623
per case.
DRIED FRUITS Dates. 97 per case;
figs, $1.403.73 per box: applea. 16c lb.;
peaches, 1517c: apricots, 23 26Vzc;
prunes. 7H12c.
BEANS Small white. 6c; large white,
4c; pink. : V- bayo, 6c; red, 6c. ,
Hides, Hop-. Etc.
TALLOW No. 1. 4c; No.
pound.
CA9CARA BARK 5c a pound delivered.
Portland.
HOPS 1921 crop. 2024c per pound.
HIDES Fresh cured. 5c per pound;
bulls, 4c; calf, 12c per pound; kip. 7c;
dry hides, 8c; dry salt hides. 7c per pound.
PELTS Dry pelts, full wool. 81? 10c per
pound; salt pelts. 3550c each, according
to size.
WOOL Eastern Oregon, 10 21c per
pound.
MOHAIR. Oregon, 1322c per pound,
delivered Portland.
Fro visions.
Local Jobbing quotations:
HAMS Ail sixes. 2731c: skinned,
33c; picnics. 20c; cottage roll, 23c.
BACON Fancy. 39 43c; choice,
S2c; standard. 2328c.
LARD Pure, tierces. 14c pound
pressed tierces, 14c.
DRY SALT Backs. 1821c: plates, 15c
Shattuck Ariz
L1..11 .. m. T
Stand Oil" Cal.
Htanrl oil Ind.
Sloss Shef....
Sou Paclfc...
Sou Ry
do pfd
I St L S F. . .
Strombg Carb.
Studebaker . ..
Swift ft Co...
Tenn Cop ft C.
Texas Oil
Texas Pac ....
T Pac C ft O.
Tob Products.
Tran Con Oil.
Un Oil Del
Union Pac...
United Alloy. .
United Drug..
Un Food Prod.
United Fruit..
Union B ft P. .
Un Ret Stores.
U S Ind Alco..
U S Rub
do 1st pfd . .
U S Smelting.
U 8 Steel
do pfd
Utah Copper. .
Va Chem
Vanad Steel.. .
Vivandou ....
Wabash
do A pfd . . .
do B pfd
Wells Fargo. .
West Union . . .
West E ft M . .
West Md
White Motors.
Wlllys-Overld.
do pfd
Wilson Pack..
Woolworth . . .
Worth Pumn..
I W & L E
vvuiie kjii
1.4O0
1.300
MM
1.4O0
8
40 V
22?
9114
814
39
21
8014
100
700
1.800
300
800
1.100
14.100
2.600
20.300
1.600
3.200
600
17.900
2.000
1.000
S7H
8014
18
45
2114
8414
8014
87
11
4T4
2814
2814
5914
1114
20 V,
128
8714
78 8
1814
43
2114
33
7914
9714
1014
47
2314
2814
5814
1014
1814
127
200
1.1O0
2.600
100
1.100
4.600
3.200
100
500
3,000
400
6.300
600
8O0
300
500
1,200
200
500
6814
10
127
7114
32
3814
5414
8814
37
83
11314
63
2814
3214
714
814
20
18
67
68
8
126
71
52
88
53
98
86
88
113
64
28
82
7
6
20
13
67
49
400
5.000
40
6
39
1,100 28 27
2, 9c per
24
27
com-
TURKEYS
For ClirlMtmas. Also other poultry.
Ship to arrive Dec. 17 to IS. For
New Vear's Dec. 27 to SM.
RUBY ft CO..
169 Front St. Portland. Or.
Oils.
LINSEED OIL Raw. In barrels. 9o;
5-gallon cans, 9104. Boiled, In barrels,
91c: 5-gallon cans. 9106.
TURPENTINE In drums, 31; 5-gallon
cans. 9115.
WHITE LEAD 100-pound kegs. 12o
per pound.
GASOLINE Tank wagons and iron
barrels, 26c: cases. 38c.
Seattle Grain Market.
SEATTLE, Dec. 12 Wheat, hard white,
soft white, hard red winter, 11.08; white
club, soft red winter, northern spring,
91.07; eastern red Walla. 3105; big bend
bluestem. 31 12.
City delivery Hay Timothy. 924; D. C,
828: mixed. 321: alfalfa, 918; D. C. 928;
straw, 318; barley, whole 381, ground and
rolled 988, clipped 338; chick starter. 354;
chop, all grain, 386; cocoanut meal, 328;
corn. 334; corn cracked and feed meal, $36:
cottonseed meal. $44: linseed meal, $38;
mash mixture, egg. $38 943; scrxtch food.
940 0 43; soy bean. $60: wheat. $43; Puget
sound. $41.
Cotton Market.
NEW. YORK, Dec. 12. Cotton Spot
quiet. MUdilng, 17.70c.
1.000
3.300
800
100
700
2'. 500
300
300
066
300
'566.
500
6.500
400
400
800
5,200
500
100
500
8.10O
200
8.100
3.800
100
1.200
4,000
300
9,100
l'.ioo
200
400
4.000
4,800
2.200
200
3.400
600
700
1.100
2,000
100
'466
1.900
5.266
2.400
3.000
14,300
1.10O
28.SOO
700
1.900
8.200
2.900
1,300
600
100
9.300
1.7O0
000
9.500
200
100
1.700
1.200
500
800
800
Adams Exp . .
Agr Chem . . .
do pfd,
AJax Rubber..
Alaska Gold..
Alaska Junu..
Allied Chem..
Allls-Chalm . .
do pfd j. . ..
Am Beet Su..
Am Bosch. . ..
Am Csn Co . .
do pfd
Am Car ft F. .
. do pfd
Am Cot Oil..
do pfd
Am Drug Syn.
Am Hide ft L.
do pfd
Am Ice
Am Antl Corp.
Am Linseed . .
do pfd
Am Loco ....
do pfd
Am Saft Ras.
Am Ship ft C.
Am Smelter...
do pfd
Am Snuff ....
Am Steel Fdy.
Am Sugar - .
do pfd
Am Sumatra..
Am Tel & Tel.
Am Tobacco..
do "B" ....
Am Wool ....
do pfd
Am W P pfd.
Am Zinc ....
Anaconda ....
Assd OH
Atchison
do pfd
Atlantic C L. .
Atl Gulf A W I
Baldwin Loco.
do pfd
Balto ft Ohio.
do pfd
Beth St "B". .
Booth Fish.. ..
B R T
Butte C ft Z.
Butte ft Sup. .
Burns Bros. . .
Caddo Oil ...
Calif Packing
Calif Pet
do pfd
Canadian Pas.
Cen Leather . .
Cerro de Pasco
Chandler Mot.
Chgo ft N W.
Chgo Ot West.
do pfd ....
Chill Cop
Chino
C M A St P..
do pfd ....
Coca Cola ....
C A O
Colo F ft I. . .
Colo Southern.
Colo GAB..
Colum Graph.
Cor. Gas
Con Cigars. . .
do pfd ....
Contl Can . . .
Clt Serv Bkrs.
Corn Prod . . .
do pfd ....
Condon Oil...
C R I A P
do A pfd . . .
do B pfd. . .
Crucible
do pfd ....
Cuba Cane . .
do pfd ....
Cub Am Sugar
Dome Mines. .
Del A Lark..
Davison Chem.
Endi Johnson.
Erie
do 1st pfd . .
do 2d pfd..
Fam Players. .
Fed M A S . . .
do pfd ....
Flsk Tire
Gaston Wma. .
Gen Cigars. . .
Gen Elec
Gen Motors. . .
Glen Alden . .
Gen Asphalt.. 14.800
Goodrich 600
Goodyear
Granby ...... 4O0
Ot Nor Ore . . . 700
Ot Nor pfd. . . 8.400
Greene Can. . .
Gulf S Steel..
Hask Barker. .
Houston Oil...
Hup Motors . .
Ill Central
Inspiration . . .
Int Agr Corp.
do pfd ....
Interboro ....
do pfd ....
Interstate Cal
Int Harv
Int Mer Mar. .
do pfd ....
Int Nickel . . .
Int Paper ....
do pfd ....
Invlnc OH ...
Island OH ...
Jewel Tea . . .
K C Southern.
K C Sou pfd . .
Kelly-Spgfd ..
Kennecott ....
Keystone Tire
Lack Steel
Lee Tire
Lehigh Val...
Lorlllard
Loew Theaters
L ft N
Morland Oil...
May Dpt Store
Mex Pet
Miami
Mid States Oil.
Mid vale Steel.
M K ft T-Wi"
do pfd
Mont Power. . .
Mont Ward...
Mo Pac
do pfd ....
M St P ft SSM
Nor Am 1,500
Nat Biscuit...
Nat Enamel. .
Nat Lead
Nev Con
New Haven . . .
Norfolk A W. .
Nor Pac
Nova Sco Stl. .
N Y Air Brake
N Y Cent
Ok la Prod ref.
Ontario Silver.
Ontario AW..
Otis Steel
Pacific Dev...
Pac Gas ft El.
Punta AMegre.
Pacific OH
Pan Am Pet.,
do "B"
Penna 4.200
Peo Qas 5.600
Pere Marq 689
Pure Oil 18.700
Phillips Pete. 3,300
Pierce Arrow.
Pierce Oil....
Pitts Coal....
Pitts A W Va.
do pfd
Preasd Stl Car
Pullman
Ray Cons ....
Reading
Remington
Replogle Stl..
Repub IAS..
do pfd
Ren Motors. . .
Roval Dut Oil 13.900
Ry Steel Spg. loo
Stand Oil N J l.Snu
Sears Roe 5,600
57
38
88
28
'S2
84
147
21
21
"13
58
'41
28
4
6
47
80
114
34
55
84
31
116
14
139
82
13
49
'66
86
88
86
'36" .
'58
f
7
3
18
110
'66
44
12214
31
30
48
67
84
32
84
72
64
700
2.800
300
600
300
600
800
800
600
200
8.400
100
3.000
8O0
100
7K
15
14
18
112
32
80
11
1614
11
76
10
89
10
2.300
6.400
142
11
87
35
500
600
6.300
1.7O0
2,466
900
600
300
20
31
76
28
'so"
82
11
33
1
6.000
400
700
4,300
8.900
1.900
'4.766
3,000
400
300
100
600
10,000
3.200
600
4O0
2,200
700
1.000
900
24.000
3.700
9.0O0
2.800
500
500
100
3.000
1.000
1.000
.10
500
500
3.300
1.600
700
4,500
700
1,000
100
1.300
200
"566
1.200
11.300
5,400
1.000
1.000
4.KO0
1.000
400
3.000
S.OOO
4.300
2.200
4.300
2.100
200
600
56
37
88
27
'32
94
146
'ii"
21
'is"
57
'40
29
'66
"4
6
46
88
114
34
53
84
29
113
134
128
81
12
48
'66'
86
88
84
35
57
T
7
5
18
115
'66"
43
126
80
36
43
63
14
28
20
33
42
36
261.
42
68
8
93
16
55
4814
14
28
18
82
41
56
25
42
65
S
82
13
55
48
2,100 88 92
33
31
83
71
64
7
15
18
18
112
52
78
1 1
16
11
74
10
34
10
140
10
66
33
28
31
74
28
'78
78
11
'88
8
35
1
7
82
15
66
12
53
'i'142
2
11
23
a
27
12
46
3914
10
14
108
26
100
116
Of
8
2314
59
13
18
45
07
45
'41
86
8714
80
7i
4
29
48
52
48
33
56
22 '4
40
32
14
13
66
23
107
13
II
28
53 2
86
52
03
ISO
36
82
15
65
12
51
'ii"
2
11
23
52
42
26
11
45
29
1.
15
14
108
26
100
114
14
28
8
2314
59
12
17
45
67
44
'so' '
83
15
1314
86
79
73
ii
'4
28
48
52
4-
33
66
21
S8
32
18
12
63
25
106 14
15
70
27
26
52
86
5014
88
180
35
Bid.
51
29
58
18
57
38
88
27
32
32
94
146
114
22
21
5
13
57
74
41
28
55
100
112
4
614
46
89
114
34
55
84
30
116
134
1211
82
103
25
12
48
88
IKI
86
88
32
85
162
35
68
38
7
7
5
18
113
11
69
44
84
121
30
36
47
03
0
17
14
28
19
83
41
56
25
41
65
3
83
13
53
48
28
83
68
38
31
84
71
64
88
7
14
13
18
111
52
78
11
16
11
7614
9
37
10
6814
141
11
42
66
35
12
28
81
74
28
48
79
81
11
98
39
7
35
1
3
6
82
15
66
12
52
95
12
2
11
28
58
42
27
12
46
28
58
15
14
108
26
100
115
27
14
28
8
28
68
12
17
43
67
44
126
38
86
13
13
97
7914
24
60
7314
4
29
7
64
29
46
52
47
33
56
21
40
32
14
12
64
l5
66
106
71 ij
2814
27
52
85
62
91
1MI,
56
U S 2s reg.. .
8 S 2s cou. . .'
U S 4s reg. . .'
U S 4s coup '
Pan 3s reg . . .
U S 3s cou
Am Tel cv 6s.
Atchison gn 4s
D ft R G c 4s.
Bid.
200 43 43
100 7 7
2.100 12 11
BONDS.
101 IN Y C deb Os.
101 N P 4s
104i do 3s
104 Pac Tel 5s. . . .
79 IPenn con 4s.
79 IS P conv 5s. . .
107ISou Ry 5s
85 U P 4s
71U S Steel 5s. .
8
40
22
90
88
87
78
18
44
21
83
0
87
10
47
23
28
58
11
18
127
25
08
10
125
70
52
38
54
88
46
83
112
04
28
82
7
0
20
18
87
92
50
8
39
0
28
28
124
40
7
11
.98
84
60
(.-..,
98
97
M
8 Hi,
98
do 5s. 1931 45
do 7s. 1941 94
do 8s. 1945 99
German W L 5s 4
Berlin 4s 5
Hamburg 4s 5
do 4 He 0
Leipzig 4s 4
do 5s 0
Munich 4s 0
Frankort 4s 6
Italian 5s, 1918 34
Jap 4a. 1981 72
do 1st 4s, 1923 87
do 2d 4s. 1923 86
Norway 8a. 1940 108
Russian 5s. 1921 13
do 5s, 1830 2
do 8s. 1918 14
Swiss 3s. 1829 95
do 8a 1940 112
U K 3s. 1922 99
do 5s. 1929 97
do 5s, 1837 84
47
84
100
6
6
0
6
7
7
8
34
72
87
86
110
13
3
15
86
118
'97
' 94
Liberty Bond Quotations.
Liberty bond quotations furnished
Overbeck ft Cooke company of Portl
Open. High. Low.
Liberty 8s 95.06 95.32 95.02
do 1st 4s
do 2d 4s
.97.12 97.36
.96.80 87.06
.87.60 8 7.76
87.06 0738
do 1st 41ts
do 2d 4 '4 s
do 3d 4s
do 4th 414s
Victory 4a
do 3s ...
. .99 88 100.02
97.12
96.80
97.56
97 06
99.98
by the
and:
Close.
85 80
87.00
86.70
87.20
86 88
87.70
87.26
100.00
M 33
Foreign Exchange.
Foreign exchange rates st 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 $.0010
Belgium, francs 0815
Bulgaria, leva 0086
I Csecho-Slovakia, kronen 0135
Denmark, kroner ivu
England, pound sterling 4.2400
Finland, tlnmark 0210
France, francs 0830
Germany, marks 0005
Greece, drachmas 0430
Holland, guilders 8630
Hungary, kronen 0020
Italy, lire 0473
Jugo-Slavla. kronen 0060
Norway, kroner 1580
Portugal, escudos 0810
Roumanla. lei 0096
Serbia, dlnara 0185
Spain, pesetas 1520
Sweden, kroner 2505
Switzerland, francs 1965
China Hongkong, local currency . . . .5425
Shanghai, taela 7900
Japan, yen 4875
NEW YORK. Dec. 12. Foreign exchange
buoyant. Great Britain, demand $4.23.
cables $4.24; Franca, demand 8.31, ca
bles 8.32; Italy, demand 4.77, cables 4.78;
Belgium, demand 7.96, cables 7.97; Ger
many, demand 00. cables 61; Holland,
demand 36.40. cables 36.46; Norwsy, de
mand 15; Sweden, demand 24.50; Denmark,
demand 19.10; Swttserland, demand 19.43;
Spain, demand 14.76; Greece, demand 4.22;
Argentina, demand 33.12; Braxil, demand
13.26; Montreal. 92 3-16.
WILSON
New Issue
Boston Mining Stocks.
BOSTON. Dec. 12. Closing quotations:
Ariz Com 68North Butte ... 12
Cal ft Hecla...201 I Old Dominion.. 23
Centennial 9Oseeota 83
Cop Range 89 Superior 2
East Butte ... 1014 Sup ft Boston.. 1
Franklin 2 (Shannon 1
Isle Royale ... 28Utah Con 1
Lake Copper... 2 Winona 40
Mohawk 7Wolverine 11
Swift A Co. Stocks.
Closing prices tor Swift ft Co. stock at
Chicago were reported by the Overbeck A
Cooke company of Portland aa follows:
Swift A Co 97
Llbby. McNeil A Llbby 3
National Leather 2
Swift International 21
Money. Sliver, Etc.
NEW YORK. Dec. 12.3-Call money firm
High. 6; low, 5; rullrrg rate. 5; closing
nia. .1; offered at 514; last loan. 5
Time loans firm. 60 days. 56; 90
days, 55; six months. fi5.
Prime mercantile paper, 6314.
Foreign bar silver. 66.
Mexican dollars, 50.
LONDON. Dec. 12. Bar silver. 85d per
ounce. -Money, 2 per cent. Discount
rates, short bills. 3 per cent; three
months bills, 3 per cent.
New York Bonds.
New York bond quotatons furnished by
Herrln ft Rhodes. Inc.. of Portland:
Am Tel ft Tel 0s 1922 100
Am Tel ft Tel 0s 1924 99
Anaconda 7s B 1929 102
Armour cv 7s 1930 102
Armour 4s 1939 86
Argentine GI 5s '...1940 74
Am Ag Chm 7s ,..1941 100
Beth Steel 7s 1922 100
Beth Steel 7s 1923 100
Beth Steel Eq 7s 19S5 100
Belgium Ext 7s 1945 103
Ki'lglum OS 1926 Vtl
Belgium 8s 1940 104
Bergen 8s. City of 1945 104
Berne 8s. City of 1945 108
Brazil 8s 1941 104
Canadian 5s 1920 90
Canadian 5s 1931 96
Can Nat Eq 7s 1936 . 106
Can Nat (guar) 6s 1940 107
O M A St P gn&rf 4s A 2014 55
Can Nor 7s 1940 109
Chile 8s 1941 102
Christians 8s. City of 1945 107
Copper Exp 8s 1922 100
Copper Exp 8s 1928 101
Copper Exp 8s 1924 102
Copper Exp 8s 1925 104
Cuban Amer Sugar 8a 1931 102
Con Gas cv 7s 1925 103
Dla Match 7s 1986 107
Denmark 8s 1945 107
Danish Mun 8a .1943 107
Dupont 7s 1931 103
French ext 8s 1945 100
French 7s 1941 97
Goodyear 8s 1941 110
Gulf Oil 7s 1988 102
Gt Northern 7s 1980 107
Humble Oil 7s 1923 100
Int Rap Tr ref 3s 1906 62
Int Mar CT 6s 1941 90
Int Rap Tr 7s 1921 73
Kennecott 7s 1830 101
Llbby. McNeil A Llbby 7s 1931 99
Mexican Pete 8a 1986 100
NYC call 7s 1930 105
Norway 8a 1940 108
Pan Amer 7s 1930 96
Penna 6s 1936 104
N P ft O N (Jnt) 6s 1986 106
San Paulo 8s 1936 101 14
Southwt Tel 7s 1925 101
Swedish Govt Os 1989 95
Standard Oil N Y 7s 1981 107
Standard Oil of Cal 7s 1931 105
Swiss 8s 1940 118
Sears Rue 7s , 1922 99
Sears Roe 7s 192S 99
Solvay 8s 1927 98
Swift ft Co 7s 1825 100
Wilson 1st 6s 1828 88
West Elec 7s 1825 103
Westinghouse 7s 1931 103
Zurich 8s 1943 108
Laclede Gas 7a 1929 97
80 Ry Dev 4s 1936 62
Gt West 4s 1959 60
Hud ft Man 5a 1957 46
MKT Prior 5s 1962 77
Mo Pac 4a 1943 59
Foreign Bonds.
Foreign bond quotations furnished
Overbeck & Cooke company of Portl
Bid.
68
89
104
95
418
408
409
319
297
8614
93
Belgian rest 5s ..
do prem 5s
do 7s 1945 . . .
do 6s. 1925
British 5s. 1922 . .
do 5s. 1927
do 5s. 1929
do vky 4s
do ref 4s
BordesuX 6s, 1934
Canadian 3s. 1987
do 5s. 1926 86
do 5s. 1829 97
do 5s. 1931 94
do 3s. 1927 91
Chilean 8s. 1941 102
Currency 8
Denmark 8s. 1845 107
French 4s. 1817 48
do 3s. 1820 66
by the
and:
Ask.
66
71
104
8.1
428
418
419
829
307
86
95
96
97
95
93
102
9
108
49
67
DELIVERIES ARE LARGE
MUCH WHEAT TENDERED OX
DECEMBER CONTRACTS.
Great Northern
Railway Company
General Mortgage
7 Bonds
Series"A"--Due July 1, 1936
Legal Investment for Insurance
companies in New York and for
javinps banks In New Jersey,
Connecticut and other states.
Price to yield about
6.05
Circular on request for OR-437
The National City
Company
Offices in more than 80 cities.
Yeon Bide Portland, Or.
Telephone Main 0073.
Chicago Market Is Weakened and
Closes Lower Cotton
Slump Is Factor.
CHICAGO, Dec. 12. Unexpected heavy
deliveries on December contracts did much
today to weaken wheat. Prlcea closed un
settled c to lc net lower, with May
31.13 to $1.13 and July 11.02. Corn
lost 0c to c and oats c.
In provisions, the outcome varied from un
changed figures to 15c decline.
Bearish sentiment in wneat was mani
fested at the outset, the effect of large
deliveries here being emphasized by liberal
receipts at Kansas City. At first, too. the
outlook was for a conaiderable Increase In
the United States visible supply. Selling,
however, was checked by the fact that
foreign exchange was on the upgrade, and
because dry weather In the southwest was
again becoming- a subject o comment.
Subsequently, announcement of the visible
supply decrease for Canada and a smaller
Increase in the United States than looked
for led to a rally. Inasmuch as for the first
time the total was less than the amount a
year ago. But the upturn In values was
short lived, confidence of bulls being fur
ther undermined by cotton market weak
ness due to the government crop report.
Corn and oats were lower as a result
mainly of big receipts of corn here. Be
sides, export demand for corn was less
active than has been the rule of late.
Setbacks In the value of hogs tended to
weaken provisions.
The Chicago grain letter received yes
terday by the Overbeck ft Cooke company
of Portland follows:
Wheat A feeling of Indecision per
vaded the trad today and the market
was an uninteresting affair, with news
of little consequence. Advices from the
seaboard were mixed, some claiming lack
of Interest on the part of foreigners,
while others said they hsd cables very
close to a working basis. Cash markets
were without important cnange, anioe
from a reduction of 1 cent In the basis
for No. 2 red wheat in Chicago a light
decline on lower grade wheat In Minne
apolis. Receipts were rather light in the
southwest, but Kansas City reports claimed
country selling appeared to be over. The
decrease In the United States and Can
adian visible had only a temporary Influ
ence on the market. It Is expected that
the closing of navigation on the lakes
will be followed by weakness In Canadian
cash premiums. A prominent Canadian
authority says there will be an unusually
large movement this year of wheat from
Canada west via Vancouver.
Such declines as recorded today will
prove temporary.
Corn Selling by ensh houses against
country purchsses and by longs Influenced
by Increase In receipts had only a moderate
effect on pcices. Cash demand was good
and vnlues held well, considering the In
creased pressure. One shipping Interest
reported 100.000 bushels sold to exporters,
all rail shipment out of Chicago. We can
not see where much advantage will accrue
to sellers at this level.
Oats Buying by cash snd elevator In
terests was the oustandlng feature and
served to create an undercurrent of
strength In the face of rather general
liquidation hy longs. Cash was un
cMenged. It is to be expected that stocks
from now on will diminish from week
to week.
Rye Lacked Independent action, follow
ing fluctuations In wheat. Cash was
steady at 1 over December for No. 2
on track.
Leading futures ranired as follows:
WHEAT.
Open. High. Low. Olnze.
May $1.14 $1.14 $1.13 $1.18
July 1.02 1.08 1.01 1.02
CORN.
May 88 .53 .53 .53
July 35 .35 .55 .56
OATS.
May 88 .38 .37 .37
July 38 .38 .38 .38
PORK.
Jan 15.00
LARD.
Jan 8.70 8 70 8 07 8 70
May 9.07 9.12 9 07 9.10
RIBS.
Jan 7.65
May 7.90 7.90 7.85 7.87
Cash prices were as follows:
Wheat No. 2 red. $1.17 1.19.
Corn No. 2 mixed, 48 40c; No. 2 yet
low. 4949c.
& Co., Inc.
New Issue
t n ir i cii i 7 I m
lw-icor uii criiuie 01111111114 r uuu 72 ,c
Gold Bonds
Dated Dec 1, 1921. Due Dec. i, 1931. Semi-annual interest Feb. 1-Aug. L Den. $1000.
Sinking fand first five years $506,250; next two years $1,01 2 00; next' two years $1,
518,750, annually, to retire these bonds, by market purchase or call up to
107Yi and accrued interest.
These bonds are also convertible during the life of this loan up to September 1, 1931, into com
mon stock of the company at the rate of twenty shares of common for each $1000 bond.
These bonds to be listed on the New York Stock Exchange.
WILSON & CO., beef and pork packers, have twelve meat-packing
plants advantageously situated within the United States and two
meat-packing plants in South America, owned through subsidiaries,
and operate there a third plant in which they have very substantial interest.
Net sales of the company and their subsidiaries have increased from $55,
000,000 in 1903 to over $370,000,000 in 1920.
The volume of business for 1920 done by this company has not shown any
material reduction, although the sales compared with the same period for
1920 are about 70, which is explained by the fall in prices of pork and
beef products.
The purpose of this issue is to reduce floating indebtedness. The sinking fund pro
vision for retirement of a substantial amount of these bonds prior to maturity offers
opportunity for a very large interest return. With the return to normal market con
ditions the privilege for conversion of these bonds into stock of the company may
become very valuable.
Price: 96 'i and interest, to yield a minimum return exceeding 8
without deduction for Normal Federal Income Tax up to 2' . .
Immediately that sub
scription books were
opened this issue was
heavily oversubscribed.
P SMITH
mm?m0'ZOm CAM1
Psftm ass. awaast CO.
saw B7.
Subject to availability, we
will reserve these bonds for
you for delivery later or for
payment on the Partial
Payment Plan.
Oats No. 2 white, 36 837c; No. 8
white. 33e33c.
Rye Nominal.
Barley 52662c.
Timothy seed 156.
Clover seed 31 2.50 to 18.60.
Pork Nominal.
Lard S.80.
Ribs 17 67.75k
Primary Receipts.
CHICAGO, Dec. 12. Primary Receipts
Wheat, 1.788.000 bushels vs. 1.897.000 bush
els; corn. 2.443.000 bushels vs. 854.000 bush
els; oats, 694,000 buahels vs. 755.000
bushels. . .
Shipments Wheat. 706.000 bushels va.
977.000 bushels; corn. 701.000 bushels vs.
886.000 bushels; oats. 438,000 bushels vs.
451.000 bushels.
Carlot Kansas City Wheat. 451; corn.
106; oats, 78. St. Louis Wheat. 69; corn.
222; oats. 83.
Minneapolis Grain Market.
MINNEAPOLIS. Dec. 12. Barley. 87
31c; flax. No. L 1.82 1 9S"4 ; wheat.
December $1.19, May $1.19. July
$1.16.
Winnipeg- Grain Market.
WINNIPEG. Dec. 12. Wheat Decem
ber. $1.03: May. $1.08.
Grain at San Francisco. '
SAN FRANCISCO. Dec. 12. Orain
Wheat, mllUm $1.861.95; feed, $1.85
1.96 barley feed. $1.251.30; shipping.
31.S01.33: oata, red feed. $1.4001-00;
corn, white Egyptian. $1.67 1.72 ; red
mllo. tl.451.50.
Hay Wheat. No. 1 $1719; fair $141T;
tamo oat. $1518; wild oat. $1118; al
falfa. $18616; stock, $912; straw, $10
12.
Daluth Linseed Market.
DUT.CTH, Dec. 12. Linseed on track,
$1.SS jj 1.92 ; arrive, $1.88 Jil.89.
HERRIN & RHODES, Inc.
Established 1896.
BROKERS
We Will Roy $1000 Portland Ry. & Lt.
8 tiold Notes at 01.
S01-8 Railway Exchange Bide.
Telephone Mala tJSWjjg
UNITED STATES SHIPPING BOARD
(Through United States Shipping Board Emergency Fleet Corporation)
Invites Offers on S. S. Brookdale
The UNITED STATES SHIPPING BOARD, through the UNITED STATES SHIP
PING BOARD EMERGENCY FLEET CORPORATION, Invites offers for the purchase
of the following described wooden cargo steamer which has been duty appraised and
Is to be sold at private competitive sale. All offers received before December 27.
1921, will be considered; and no award will be made before that date. Negotiations
msy be continued thereafter; and all offers received prior, to final award will be
considered.
S. S. BROOKDALE
Wood, twin screw, two deck, three island, cargo steamer.
This is one of the finest western corporation
loans in which this bank has participated for
these reasons, among others.
THIS $400,000 bond issue offers far better
security than most gilt edged mortgages.
ADDED opportunity for profit is offered by
the proviso for calling in bonds by lot at 105
plus interest.
SINKING fund requirements make for a ready
market and steady price, in case one should
desire to dispose of his bonds.
15-Year 8
First Closed Mortgage
Gold Bonds
Coburn Bros. Cattle Co.
Callable at 105 and interest
Dated Dec. IS, 1921 Due Dec. 15, 1936
Den. $100, $500, $1000
Price 100
To Yield
8:
OVER 700,000 ACRES are owned or controlled by this great
company in Arizona, which, with its 31,000 head of cattle,
and pledged bonds, are, bn conservative estimate, worth $2,000,
000. We have DEPRECIATED this figure, however, on valu
ations of SPECIFIC, TANGIBLE and EASILY LIQUIDATED
ASSETS to $1,101,000. This figure REPRESENTS COM
PLETE DEFLATION and means that the Trustees could, at
any time, realize approximately THREE TIMES the amount
of this bond issue. In addition the minimum sinking fund
requirements call for a payment of $10,000 in 1922; $15,000 in
1923; $25,000 annually during 1924-1925 and 1926; and $30,000
annually from 1927 until maturity.
THIS BOND OFFERS AN UNUSUAL
OPPORTUNITY FOR BOTH LARGE
AND SMALL INVESTORS. It has our
heartiest approval. We urge our clients
to make immediate reservations.
The average herd increase annually is
about 6000 calves. The sales of market
cattle about the same. This means that
the herd remains constant, year in and
year out.
Phone, write, telearraph or call personally nnd place your orders
or secure our circular fully describing; this issue.
BROADWAY and OAK
D. W. T...3665
Gross 2935
Net 1730
Length 274 feet 6 inches
Breadth.... 49 feet
Depth 28 feet V2 inches
Draft 25 feet 4 inches
Speed 8 knots
Equipped with two triple expansion engines; IHP 1400; two standard water tube
boilers. Built by Grays Harbor M. S. Co.. Aberdeen, Wash., January, 1019. Present
location Seattle, Washington.
Not accountable for errors In description.
The above vessel will be sold "as is. where la"
A certified check for two snd one-half, per cent (241 of the amount offered
must accompany each bid. This sum will be credited on the purchase price If the
Award la made to the bidder or will be retained by the Board on account of damages
If the successful bidder falls to complete the purchase. Checks will be returned
promptly to bidders whose offers are rejected.
Offers should state the trade In which It Is contemplated the vessel will be em
ployed The board will give consideration to requests for permission to put the vessel
under foreign registry or flag and also to bids from aliens.
The Board reserves the right to reject any or all bids.
Bids should be addressed to UNITED STATES SHIPPING BOARD
EMERGENCY FLEET CORPORATION, Department of Ship Sales,
Washington, D, C and marked "Bids for S. S. BROOKDALE."
Liberty Bonds
HOLD YOURS
Do not part with them
unless compelled to do so.
BUY MORE
At present attractive prices,
thus reducing cost.
Booklet No 2d 4 fives interesting
and profitable information.
Wrist TODAY for your fret copy
ROSE & COMPANY
Liberty Bond Specialists
50 Broad Street, New York City
TEXT BOOK of
WALL STREET
IMS Edition
now ready for free
distribution
McCall, Riley & Co.
Nnbm CwfVmtf
9terfc Kxul.anjjr of Nw Tork
20 Broad St., New York
HOTEL HOYT
Strictly Fireproof. Near both depots
and convenient car service to
all parts of city,
ningle Rooms Without Hath, fl and up
Single Rooms With Bath. S2 and up
EXBKKT 8. I. "HI. Manager.