Morning Oregonian. (Portland, Or.) 1861-1937, January 03, 1922, Image 21

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Morning Oregonian., January 03, 1922, Page 21, Image 21

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Newspaper Page Text21 THE MORXIXG OREGOXIAN, TUESDAY, JANUARY H, 1022 LUTED CURRENCY E The first half of this issue having been offered and oversold several weeks ago, ' we offer the remaining bonds for immediate delivery. EUROPE B DUCED Bank of England Raises Ratio of Gold Reserve. HORIZON NOW CLEARED London Banker Warns Tliut This Is No Time for Speculation. Kecovcry to Be Slow. m Despite rather alarming statements tha last few days concerning present ' conditions In Europe a writer for thV Rational City bank, of Chicago points out'that the enormously Inflated cur rency issues in different countries are being gradually reduced. It is pointed out that the Bank of England has raised Its ratio of gold reserve within the year from 10 per cent to i per cent. This strengthening of the reserve ratio has accompanied the 16 per cent contraction in England's "currency notes" since the maximum of last December. The Bank of France has made en couraging headway also In the same direction with retirement of note cir culation since November, 1920, of 2,926,000.000 francs. The federal re erve system of this country has been materially strengthened within the last month by an Important advance In its reserve ratio and further reduc tion in outstanding currency to the lowest figure reported since October, 1918, and some 30 per cent under the high level touched in the closing days of 1920. World Returning to Old Daxla. These changes afford striking testi mony to the fact that the world is addr&sslng itself earnestly to the task of reducing its inflated currency lfsues and slowly, but surely Is get ting back again to the circulation ' basis of normal times. ' It is the idea of British financiers also that things are on the mend. I Sir Reginald McKenna. chairman of the board of the London Joint City and Midland bank. Ltd., at the con clusion of his visit to the United States last month, said: "Thanks to the bold and public spirited poHcy of your leading bank ing institutions the financial horizon seems cleared. Though it probably will be some considerable time before normal conditions are restored I am inclined to say that the corner is turned. I would like to add, however, that it is no time for speculation. Recovery is bound to be slow, work fug through a. period of moderate fluctuations, though I hope and ex pect that the tendency will be an improving one." Tone More Confident. ThlB agrees very well with the views of the most experienced ob servers of indu: trial and business conditions In this country. Business is getting back and within the past month there has been a more confi dent tone manifested. Some of the gains, however, may be accounted for by seasonal derrands and for that reason cannot be taken as permanent. It is probable that the country Is facing an Intensive competitive struggle which must result In stabi lizing prices at a level which will bring business. The situation in this respect is very interesting. Cora "pared with a year ago condit'ons are much healthier, the credit situation sounder and labor more efficient. On December 31 the Owl Drug company sent out checks covering Its 13th consecutive semi-annual divi dend to 1500 holders of its 8 per cent cumulative preferred stock. This company has the record . f never having passed a preferred stock of dividend. The management of the company reports a splendid business for the year Just closed. The volume of business done will exceed that of 1920 by a substantial margin. Five new stores have been installed In the last 12 months and within the next six months new ones will be opened in Denver, Los Angeles and San Francisco. Other locations are under consideration. LIVESTOCK PRICES LOWER CATTLE, HOGS AXD LAMBS DE CLINE AT YARDS. I Quotations Off 25 to 50 Cents at Opening of Year; Sheep Are Steady and Vnchanged. The year opened in the local livestock market with declines In nearly all classp of stock. There wan a Rood average run of 99 loads, of which XX loads were for through shipment. The cattle market opened about a iuar tr lower with the best steers quoted at H 76g"7.M) and cows and heifers at Z.2Z& 3. 75, though pulp fed heifers sold h igher than this. The close In the cattle di vision whs steady at the forenoon prices. Hips n'n lrt -t?S cent on the b"t 1922 Will Reward Bond Investors because the value of good securities will continue to advance, and the investor can enjoy satisfactory in come, with no risks of loss. Now Is the Time to Buy Bonds for January investment Investment at this time offers opportunity for added profit through ad vancing bond prices, and also insures high yields through future years when coupon rates will be much lower than rats are at present. income tax exempt municipal bonds - Due Price -Yield Clackamas County, Or. (Schools) 5s 1932 95.45 5.60, ( , Douglas County, Wash., 5V2s 1930 100.25 5.40. PortlaAd, Or., 5V&8 1930 103.27 4.84 Portland, Or., Imp. 6s 1931 105.85 5.00 " Portland, Or., Harbor 4 2s 1928 97.25 5.00 Whatcomb County, Wash., 5Ms 1924 100.92 5.10 Eastland County, Tex., 52s Serially 5.75 Wallowa Valley Imp. 6s 1941 97.20 6.25 Wallowa County, Or., 5i2s 1932-3-4 ...... 5.007 foreign government, and municipal bonds Republic of Argentine 5s 1945 7.50 Republic of Brazil (Sterling) 5s 1934 . 7.50 Province of British Columbia 6s 1925 6.Z5 Province of Manitoba 6s 1925 .. 6.25 French Cities 6s.... 1934 7.65 Province of Ontario 5Us. . . ........ 1929 6.00 Vancouver, B. C, 4Vs '. .. 1923 7.007o corporation bonds, yielding to 8 Canadian Pacific Deb. 4s ; 78.00 5.13 .Pennsylvania Railroad Equipment 6s Seikilly 5.80 Wheeler Timber First Mortgage 734s .1926 101.00 7.60 f A request will bring you full information concerning any bond listed. - LUMBERMENS 'jR.UST(3IFtAJSrY -JE3lANEl - Broadway at Oak grades, the top on crime light weights being 19. Lambs at the close of the session were 50 cents lower on all clashes. East of the mountain lambs were listed at 88.50, but nothing on the market brought the extreme quotation. Sheep were steady and unchanged. Receipts were 1893 cattle. 87 calves, 1290 sheep and 2347 hogs. The day's sales were as follows 2 steers. 11 steers. 4 steers. 2 steers. 14 steers. 2 steers. 10 steers. 0 steers. 24 steers. C steers. 1! steers. 26 steers. 9 steers. 22 steers. 3 steers. 14 steers. 14 steers. 19 steers. 12 steers. 6 steers. 20 steers. 25 steers. 11 steers. 7 steers. 2 steers. 2 steers. 10 steers. 2 steers. 10 steers. 2 steers. 23 steers. 25 steers. 20 steers. 20 steers. 35 steers. 24 steers. 17 steers., 22 Bteenw 5 steers. 1230 9 cows. 5 cows.. 2 cows.. 2 cows.. 7 cows.. 2 cows.. 3 cows.. 3 cows.. 19 cows.. 4 cows.. 3 cows.. 2 cows.. 3 cows .. 12 cows.. 2 cows.. 17 cows.. 4 cows.. 2 cows.. 2 cows.. 2 cows.. Wt. Price. f.O t 4.501 1231 7.00 1172 940 1115 870 970 1O-J0 1075 ions 1013 11145 1057 U03 1010 1037 1130 950 936 , 1032 1010 1231 1243 1218 12H0 101b 972 1040 1011 1 1220 1273 1258 9X3 120S 778 1155 .11175 an S3- 1143 10S2 1030 1060 1020 1030 1013 920 1033 990 940 1255 928 loss 1130 I0 oss 1002 looo 990 10X3 90S 1 bull... 1 bull... 00! 2 bulls.. 3 50! 1 bull. . . 6.651 lstag.. 5II 1 stag . . 6 251 8 mixed 7.001 2 mixed 7.001 28 mixed B 001 12 mixed 6.551 7 mixed. 6.05! 5 mixed. 6.75118 mixed. 7.251 7 mixed. 3 00! 1 hog. . 6.00113 hogs. . 6.50! 6 hogs. . 6.231 3 hogs. . 6.50'IR hogs. . 7.50 711 hogs. . 5. SO! 34 hogs. . 6.251 2 hogs. . 7.13H0 hogs. . 6 35174 hogs. . 7.15: 11 hogs. . IS. 25 38 hogs. . S. 35177 hogs. . 6.00120 hogs. . 6.00 34 hogs. . 6 251 3 hogs. . 6 05!18 hogs. . 7.23 23 hogs. . 5.75' H hogs. . 7.00' 69 hogs. . 6.50 2 hogs. . 1 hog. . . 4 hogs. . 1 hog. . . 1 hog. . . 3 hogs. . 4.501 2 hogs. . 4 30:24 hogs. . 4.751 6 hogs.. 4.001 3 hogs. . 8 001 39 hogs.. 2.50 10 hogs.. 2.50! 12 hogs. . 5.351 2 hogs. . 3 IKll 7 hogs.. 2.501 9 hogs.. 4.001 2 hogs.. 5 .001 8 hogs.. 4.50145 hogs.. 4.40130 hogs. . 6.00 43 lambs. 4 .001 4 lambs. 5.00! 8 lambs. 3.501 9 lambs. 4.731140 lambs 5.25' 1 S lambs. Wt. Price 10IM) I 4.00 1530 4.00 7.15', 6.30. 7.251 8.50: 4.50) 1425 1410 10110 11 HO 520 425 515 424 940 1038 473 682 330 2(18 120 133 21 201 J Mi 310 207 103 54 128 1S5 240 185 123 175 256 373 IKS 120 300 270 300 500 242 243 183 122 820 202 245 202 100 o( i 208 495 138 193 ISO 77 87 56 08 6S 78 3.75 4 00 6 00 5.50 5.00 6 00 3 30 7.00 5.50 3 25 4.00 6.23 5.00 8.30 8.50 8 50 8.50 9.00 9.00 7.00 8.50 9.00 9 00 8.75 9 00 8.50 9.00 8.50 8.23 8 00 7.00 9.90 8 00 6.00 8.50 6.00 8.00 8.00 8.50 9 00 8 75 7.00 9.00 8.50 9.00 9.00 9.25 8.00 6 00 8.75 8.85 9.00 8.00 5.50 5.00 5.00 8 I") 8 00 A 1922 Investment Resolution I WILL not invest my money without due consid eration from every angle.', I will not be hurried by the "one-and-only-chance" plea of the pro moter. I will not be lured by returns which sound too big to be. true. I will investigate, or go to some one who tan.' I will think twice of my principal be fore being misled by promised interest. I will always keep in mind the possible necessity of having to realize upo my securities in emergency and determine whether I am to be the holder of valuable collateral or of a "bag." Then I think I can term myself a legitimate investor. 1 Municipal Bonds Are Safe Maturity Yield Province of British cfcllimbla 6a 1025 6.30 Province of Alberta 6a. .ay 1033 .rA Province of Alberta 6a. ... 1931 a.00 City of Edmonton As 1923 7.00 Winnipeg Mater Bonds, 6a 1824 6.80 Winnipeg; Water Bond, 5a 1923 - 6.90 Telephone or Wire Orders at Oir Expense. MORRIS BROTHERS CORPORATION Bdwy. 2151 Morris Building;, 3O0-11 Stark St.. Portland, Or. Safe Deposit 15oxes 9 cows.. 7 heifers 2 cows.. 2 cows.. 4 cows.. 27 cows.. 6 cows.. 9 cows.. 1 cow. ,. 11 cows.. 15 cows.. 20 cows.. 2 cows.. 10 cows.. 4 cows.. 8 cows.. 27 mixed 21 cows.. 4 cows.. 11 cows.. 2 cows.. 4 cows.. 5 cows.. 3 cows.. 3 cows.. 13 cows .. 8 cows.. 3 calves 1 calf . . 15 calves 3 calves 0 calves 24 calves 3 calves 7 calves 1 calf.. 2 calves 2 bulls.. 1 bull. . . 1 bull... 1 bull. .. 2 bulls. . ' 3 bulls 1 bull. .. 1 bull... 2 bulls.. Prices stockyards Cattle Choice steers .......... Medium to good steers Fair to medium steers Common to fair steers....... Choice feeders Fair to good feeders Choice cows and heifers Medium to good cows, heifers. Fair to medium cows, heifers. Common cows , Canners Bulls ., Choice dairy calves , Prime light calves Medium light calves ........ Heavy calves ............... 1093 002 1230 10K0 1 107 1155 nso 1141 1110 1013 943 1278 1145 . 095 887 1142 1135 1191 9S0 SS7 1102 1103 990 1058 1220 355 310 201 293 348 183 108 132 170 200 1575 1100 1530 1440 1175 1540 1770 1070 1540 quoted were 4.501 7 lambs. 6.5)l 9 lambs. 4.50l60 lambs. 3.50 193 ewes. 5 00; 179 ewes. 5.50 154 ewes. 5 501185 ewes. 5.40 139 ewes. 5.401 2 ewes. 3.90! 20 yearl.. 4.751 19 yearl. 5.501 1 yearl. . 4.25 2 wethers 5.50120 mixed. 4.55 20 steers. 4.30:24 steers. O.OOl 2 steers. 5.50 17 steers. 4.75 26 steers. 4.83128 steers. 4.00.20 steers. 5.231 14 steers. 4.73128 steers. 4.23127 steers. 3.75 28 steers. 4.50117 cows. . 8 50' 9 cows. . 6 00115 cows.. 5. 501 5 cows. . 9. CHI! 2 sows. . 9 .00111 cows. . 8 oil 3 cows. . 10.00113 calves 7.751 lcalf.. lcalf.. 6 calves. 1 bull.. 1 bull.. 1 bull... 4 bulls. . 3 73191 hogs.. 4.0(1190 hogs. . 3 751 4 hogs.. 4.50 84 hogs. . 3 00110 hogs.. 4.001 2 hogs.. at the Portland as follows: 10.0OI 10.001 G (nil 4 001 3.00! 3.7 70 74 81 110 109 108 110 109 115 94 94 100 100 ' 124 1183 11 85 1220 1042 1142 1036 120S r.s 1012 1123 1106 T.S5 1080 1175 1214 1110 9.-.S 90O 202 290 180 220 1540 1110 1010 1330 198 208 205 187 213 212 3 00 Smooth heavy, 230 to 300 lbs.. 6.00 Smooth heavy. 300 lbs. and up. 8.00 Rough heavy , 6 00 Fat pigs 5.O0 , Feeder pigs 5.00 j Stags, subject to dockage..... 5 on . Sheen 6 00 I Kast-of-mountaln lambs 4.00 7:00 6.50 5 Ml 6 50 6 .' 7 50 7.50 4.50 6 00 7.33 7.25 7.50 5 50 6.50 7.30 7.30 5 25 6.00 5.7J 4 50 4 25 5.00 6 50 8,50 7.00 7.50 6 50 8.30 3.00 2.30 3.73 9.00 9.00 8 00 9.00 8.00 9.25 TJnlon 7.50 6.75 6.25 3.75 .... 16.75 6 23 . ... 5.7.'u) 4.73 .... 5.0U 'S) 5.50 .... 4 5043) 5.00 6.25 4.73 4.2.VO) 3.2--.(j! Hogfl Prime light 5.73 3.25 4.75 4.25 3 23 3 0IIW 4 on 9. cxi 10.00 8 OOlh) 9.00 6.0OW 8.00 5.000 0. 00 8.75W 9.00 Best valley lambs Fair to good .. Cull lambs Eastern Oregon Heavy yearlings Light . wethers . Heavy wethers 7.50"ai 8.50 6.50 7 50 6.00JH 7.O0 8.50 9.00 8.500 8.75 6.1)041 6.50 S.OOii 8 50 t.aOli 8.00 5.50 7.00 3.MK 5 00 6.nO -7.00 6.0ifi 7.00 6.4H fl llO 4.59 5.30 4.00ig 5 00 1.00(0 5.00 Chicago Livestock Market. CHICAGO. Jan. 2. (U. 8. Bureau of Markets.) Cattle Receipts, 13,000 head. Beef steers and fat she stock, strong to 25c higher; yearlings up moat; bulk beef steers. $8.757.76; bulls, strong to 15c higher; veal calves, steady to lower; stackers and feeders steady. Hogs Receipts, 85,0(O bead. Opened 13 23c higher than Saturday's average; butchers' later, lo15c higher; tig pack ers and several small packers doing noth ing; top. $S.lo for 140 to 130 pound aver ages; up to $8 for 160 to 170 pound aver ages; bulk! 16.9097.00; pigs, mostly 23c higher; bulk, t8. 10 ft 8.25. Kansas City Livestock Market. KANSAS CITT, Mo., Jan. 2. (U. 8. Bureau of Markets.) Cattle Receipts, 11.000; stockers ai. feeders steady to strong; early sales, atockens, 356.25; bulk. IS. 2i$tS. 75; calves, steady to 23c higher; best vealers, 18. 30S19: stock cows and heifers, steady to 2Cc higher; several loads stock heifers, $4?4.75; one tested load, 95.50; medium to good stocker cows, 333.73; other classes uneven, but gen erally steady; best steers on sale. $7 fto; ARK YOU LOOKING FOR A DE l'K.VDABLK PHODICK DEALER f Venl Hotter Pork t'beese Poultry RFirM Honey Any Product Ask for latest methods to prepare poultry and meat shipments. , KIBV At CO, 169 Front 5t Portland, Or. Corporations having temporarily IDLE FUNDS can profitably invest in U.S. Certificates of Indebtedness and Gold Notes Our booklet UA-1 giving full information, will be gladly sent upon request without obligation H ALSEY, STUART & CO. 209 South La Salle Street, Chicago CHICAGO DETROIT NEW VpRK MILWAUKEE PHILADELPHIA MINNEAPOUS BOSTON ST. LOUIS Dollar Bonds $1,000,000 REPUBLIC OF BOLIVIA External Loan 6 Serial Gold Bonds Dated June 1, 1920 Due Serially as Shown Below Coupon bonds of $1000 denomination, registrable as to principal. Interest payable June 1 and December 1. Principal and interest payable in United States gold coin of the present standard of weight and fineness, at the Office of the New York Trust Company, New York City, without de- ekiction for any Bolivian taxes, present or future, and payable in times of. war as well as of peace, without regard to the nationality of the bolder. Redeemable at par prior to maturity on any interest payment date upon six months notice. NEW YORK TRUST COMPANY OF NEW YORK, TRUSTEE $26,000 28,000 28,000 30,000 30,000 31,000 31,000 33,000 33,000 35,000 36,000 37,000 38,000 due due due due due due due due due due due due due Dec. June Dec. June Dec. Jirne Dec. June Dec. June Dec.. June Dec. 1, 1922, 1, 1923, 1, 1923, 1, 1924, 1, 1924, 1, 1925, 1, 1925, 1, 1926, 1, 1926, 1, 1927, 1, 1927, 1, 1928, 1, 1928, 97, 96 95. (S) 94, 94, 93, 92, (5) 91, 90, 90, 89, 88, 88, MATURITIES AND PRICES 74 8.40r0 'O 69 8.40 00 8.30 14 8.30 31 8.30 51 8.30 74 8.30 00 8.30 30 8.30 85 8.25 21 8,25 $39,000 40,000 42,000 43,000 44,000 45,000 47,000 48,000 50,000 51,000 51,000 54,000 30,000 due due due due due due due due due due due due due June Dec. June Dec. June Dec. June Dec. June Dec. June Dec. June 1, 1929, 1, 1929, 1, 1930, 1, 1930, 1, 1931, 1, 1931, 1, 1932, 1, 1932, 1, 1933, 1, 1933, 1, 1934, 1, 1934, 1, 1935, (a) 87. (a) 87, (c) 86 (a) 85. (5) 85, m t y (a) (a) 85, 84, 84, 83 83 83 82. 82 60 8. 01 8. ,45 8, ,90 8. 38 8. ,18 8. .71 8, ,25 8. .828, .40 8, .00 8, .60 8. .24 8, 25 25 25. 25 25 20 20 20 20 20 20 20 20 Accrued interest to be added. These bonds are a full and direct obligation of the Republic of Bolivia, in area the third largest South American Country, and in addition are an absolute first lien on fifteen different customs duties and internal revenues, which are anually almost double the amount required for payment of principal and interest in any one year. Bolivia is one of the richest mineral lands in the world. She is now producing more than one-third the world's supply of tin, being the only producer in the Western Hemisphere. This important metal, for which there is no substitute, has become an essential to the United States, who now consumes 64 of the world's supply. Within Bolivia also lie the richest veins of silver, tungsten, bismuth, antimony and asbestos that are known to exist any where in the world. Practically every known agricultural product can be produced within her limits, although on account of her vast mineral wealth, her agricultural resources have hardly been touched. She is second in the production of rubber in South America. In addition, rich and unusually pure petroleum deposits have recently been discovered which are now being developed by the Standard Oil Company. The largest part of her foreign-trade is with the United States. The financial record of the Bolivian Government has been excellent. She has never had a single default in meeting her foreign obligations. This is the third loan she has floated in the United States, her other foreign loans having been floated in France. This issue is for the purpose of constructing Sanitation Works in La Paz, the Capital, and Cochabamba, the second largest city, which work is being done by American Contractors with American materials, and is at present over 95 completed. The U. S. Department of Commerce Statistical Abstract capita debts of important nations: France.. $1,159.33 United Kingdom...., 853.02 Belgium 260.56 United States 237.07 Canada $159.10 Argentina ............. 104.58 Norway 75.00 Chile 59.01 of 1919 gives the following per Denmark $54.98 Switzerland 52.18 Brazil 41.69 BOLIVIA 9.10 The legality of this issue has been approved by Messrs. Curtis, Mallet-Prevost and Colt, of New York City. Wire orders "Collect" to either of undersigned : Lumbermens Trust Company Bank Broadway at Oak Street PORTLAND,' ORE. John Nuveen & Co. First National Bank Building CHICAGO Statements herein contained are based upon information furnished us from official sources. 'WhIV we do not guarantee their correctness, we believe them to be reliable and they were the basis of our purchase. ?gaErBHa8fttH't:c3-fe'-"'JCS ijli3B,sgTmAj!M,Mraai'i wiwwr.vnnTO.TWirBiimiiiau other early sales, SOST.TO; better grad cows, $4.755.2J: bulk. J3.76&4.25; most he-lfers, itt down; Rood canners. mostly 12.50; bulk bulls, S3.233'3.T3. Hois Receipts. 10.000; few sales to shippers about steady with Friday's aver. a;re 141) to 176 pounds weight, I7.107.2.V. 2O0 to 230 pounds weight. $77.15: bulk of sales, S7$i7.2o; top, 17.3.1; packers not buying; bidding 2.1c lower than Friday's average; stock pips stesdy, 1J.50 paid. Omaha Livestock Market. OMAHA, Jan. 2. (U. Bureau of Mar ket ) Hogs Receipts, 80O0 head; mostly 10B'2c higher; bulk 1W to 210 pound butchers, I6.766.85; top, .90; stronger weights. 220 to 2.V pounds, S0.6O&6.7S; packing grades, $55.75. Cattle Receipts, Beef steers. steady; she stock, strong; bulls and veals. Blockers and feeders, unchanged. Seattle Uvestork Market. SEATTLE. Jan. 2. Hogs Receipts. 173; Rtenrly. Prime, fq.isnrnft: nmooth hevl. JOHN PURSE & CO. CONSULTING PUBLIC ACCOUNTANTS AND AUDITORS 611 ARTISAN'S lH ll.DING. Broadway 2853. Balance Sheets. Income Tax Financial Examinations Investments of Merit for Your January Funds Oregon Municipals Yamhill County 5s Due 1928-1934 To Yield 5 Clatsop Co. School 6s Due 1941 To Yield 5.75 Polk County School 6s Due 1937 To Yield 5.607o Klamath Co. School 6s Due 1928-1941 To Yield 5.75 City of Grants Pass 5s Due 1932 To Yield 5.60 City of Klamath Falls 6s Due 1925-1933 To Yield 6 City of Bandon 6s Due 1931-1940 To Yield 6 Port of Astoria J6s Duel926 . To Yield 6 Canadian-and Foreign v Prov. British CoL 6s Due 1925 To Yield 6.50 Province Alberta 4sv Due 1924 To Yield 6.5 Prov. Saskatchewan 5s Due 1925 To Yield 6.50 City of Vancouver 4's Duel923 To Yield 7 City of Montreal 6s Due 1923 To Yield 7 City of Victoria 4s Due 1923 V To Yield 7 Argentine Gov't 7s Efuel923 To Yield 7 Argentine Gov't 5s Due 1945 To Yield 7.33 r Republic of Brazil Sterling Bonds With Exchange at Current Rates Yield Annual Income of 7.50 With additional profit on principal at maturity, and will te in creased by any rise in Sterling Exchange. Ask for circular, 'Brazil, Its Government and Resources." DETAILS OP ANY ISSl'E FTOX REQUEST. HIRE ORDERS COLLECT. Ralph Schneeloch Company MUNICIPAiANDCORPORATIONTINANCE LUMBCPMENS BUILDING PORttAND. OHCOON. IT9T.JJ; rough heavies, t4.:56.25; pigs. (7.3.1 e8.:s. Cattlo Receipts, 4!W. Steady. Prime steer. $77.50; medium fo rttoice, $.ftOftJ 7; common to good, J5.54 ii 6 54; best cows and heirrs. $.". 'ii .1 .lit ; medium to chiur.v 4.n0irS: common to good. $34; llpht cslvrs. JflliUMI; medium calves, JHSO'jl); honvv ealve. $71M mm wig. Canadian Pacific Railway Company 4fc Con p on Consolidated " Debenture Stock "The premier security of this great company, which operates the laTgesl transportation sys tem in the world." Price yielding; abont 5.13 Circular upon rqnet The National City Company Offices In more than B0 eitlea. Yeon BldKn Portland. Or. Telephone Main 8073. A 1 : wSX Tested W Plan , For Invcstors,- that has proven successful J monthf trial subscription rem TK ftoe lnwtrment Knriew, nttSt)4r4 nonthlr dcHbca method at Lnvcatftng tbac hu pro m weeew hit by aciual mm, Ltram how to malt yrnrr monrf tmrn nd mulrtplf. Take your firtt trp urmma Anar-clat Independrnc today by wrlcmfl far your h copy oiLft. No. 294 ROSE & CO. INVESTMENT SECURITIES BO Broad St, Nenr York City 42 Buy your BONDS at the BROADWAY BANK Broadway and Stark HOTEL HOYT Strictly Fireproof. Near both depots sad convenient car servlos to all pans of city. Plngle Rooms (Vithout liiith, fl and no single Jtonmn IVith liiith, $9 and ap KLUtltt b. KOilS. Manager. I vt HERRIN&RHODES.In Established STOCKS, BONDS, COTTON, GRAIN Correaponrlrnta E. F. HUTTON A CO,N. T, Jtlmbar all leadlnc izchtni-ii rlabaon Servlre on Kile. Haul tun 201 Hallway ixchHOS Bide. ALFALFA HAY Bay Direct. in Money. , Write or Wire for Prleea. ERSERT T. FRF.EPONS, Walla Walla. Washington.