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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 4, 1922)
21 THE MOKNIXG OTlEGOXIA?sT. WEDNESDAY, JANUARY 4, 1923 ! RAILS ONLY AHE STEADY 6PKCI"IjATIVE STOCKS FALL 2 TO ALMOST 12 POINTS. Heavy Short Selling and Extensive Liquidation I'ciiture First Ses sion of New Year. NEW TORK. Jan. S. The first stock exchanra session of the new year was fea tured, by extenaive liquidation and heavy nort selling-. The reversal caused extreme recensions of two to almost 12 polnle In every division, except rails. Sales ap proximated 1,000.000 shares. Events over the holiday, "particularly the Chicago banking situation, gave rise to considerable apprehension and suggested that more important readjustments of over-extended financial Interests were un der way. The feeling was heightened by weakness In the principal commodity mar kets. Further cuts In oil prices, the steady de crease of tonnage at western and south western railway terminals and omission of the stock dividend on Kelly-Kprlngf leld Tire were other unsettling developments. The reaction started In the oil group. foreign as well as domestic Issues being under constant pressure, especially Stand ard Oil of New Jersey, Standard Oil of California, Mexican and Pan-American Pe troleums, General Asphalt and Houston. Industrials that were most favored by bull pools In the final weeks of the old year broke sharply as offerings became more general. All the motor and rubber specialties weakened. American Woolen, Sears Roebuck. Stude baker, Famous Players and Crucible and United States Steels shared In the broader selling movement of the final hour, ship pings and numerous miscellaneous Issues then recording minimum prices. The money market wss the only reas suring feature, showing comparative ease. Call loans opened at per cent, a, mod crate concession from last week's final quotation and later were in free supply sit r per cent. Foreign exchanges were lower in con nection with the Impasse at the arms con ference and uncertainty regarding the out Come of Germany's Indemnity payments, sterling easd only a fraction of a cent, but all allied remittances were heavy, that tone also spreading to the Scandinavian countrlos. The Greek rate was one ex ception, strengthening on the assistance rendered to that government by London. The January reinvestment demand for bonds was disappointing, quotations show ing irregular reactions for most domestic Issues. Including the liberty group. Several foreign divisions, such as Japanese and Mexican offerings, were firm to strong. Total sales, par value, aggregated tVJ. 850,000. CLOSING STOCK QUOTATIONS. (Furnished by Overbeck & Cooke company of Portland.) Advance Rum 1. do pftl sl Aer Chem... 1.000 3114 29 21) do pfd 3O0 68 61 67 Vj AJax Rub .. 2,700 ltf Wi 1'A Alaska Gold.. 300 9 9s Alaska Jun.. 5o0 i i Allied Chem.. 6.4O0 67 85 854 Allis-Chal ... l.noo 3D 3 SH do pfd KM) hfl K 83 V4 Ami Heet Sug. 2,000 3-'H 31 32 Am Unsoh ... 1.100 8Vi So 84tt Am Can Co.. 8,600 84 'A Sihi 32 'A do old 100 2 2 "3 Am Car & Fy 20U lti 13 1S do pfd 1,3 Am Cot Oil.. 1.K00 21 21 20 do pfd .... SOU Am Drug Syn. 200 4 V4 4 V4 , Am H 4c L. . 000 13 12 12 do Pfd .... 1..VK1 B'J k 68 f Am lee 1.300 S2 80 80 Am Int Corp. 4.800 41 V4 S'JVi 311 Am Linseed.. I.IK10 3o'4 21) 2:1 Am Loco 13,400 108 is 103V4 303Vi do Pfd 112 Am Sat Has.. 800 4 4 4 Am Ship & C. flOO 5Vi 5V Am .Smelter.. 3.700 4S!4 41 44 do pfd .... 100 87. 87 811 Am Snuff ... 400 111 11)9 loo Am Steel Fy. 1.100 33 32 32,i Am SUKar .. 9.4O0 50 54 h 54 Vi do ptd .... 700 8.V, 84 834 Am Sumatra. 8.S0 84 ' 33 32 Am T & T... 4.700 115 114 114 Am Tobacco.. 3.100 132 129 lSUVs do "H" ... I.SjOO liW 120 1211 Am Wool .... 10,300 51 7b 78 do pfd 102 Am Zlno 200 12 J2 12 Anaconda ... 10.800 50 48 41) AHsd Oil 10 Atchison .... 2,000 93 81 01 do pfd .... 100 811 80 85 All, G Jit W 1 8,1)00 31 2 20 Baldwin Loco 2u,3O0 1)8 94 94 do pfd 103 Bait & Ohio.. 000 34 84 84 do pfd 62 Both Stl "B" 3.400 57 65 65 B R T 3O0 7 6 7 Butte C & Z. 1.2O0 5 8 5 Butte & up.. 1,3)0 22 20 20 Burns P.ro... I.IhKI 118 115 115 Caddo Oil ... 300 11 1 10 Calif Packing. 3O0 !) 69 00 Calif Pet 5.7O0 47 45 45 do pfd .... 400 84 83 82 Canadian Pac. 1.700 120 1111 119 Ccn Leather.. l.OOO 31 SO 30 Corro de Pas. l.SOO 34 83 33 Chand Motor. 6, 500 60 4HV4 4Si Cli4,-o N W Dim 63 62 62 Chi Gt W.... 3K 6 c do pfd loo HI IB IB Chill Cop .... B.(MM 1)! 1& 15 Chlno 2,0'H) 27 2 20 C M St P .... ,3rO Jlt'i 18 1 do pfd 2.9M) 82 31 80 Coco Cola ... . 7,aM) 43 41 42 C & O. 7M) 5C.!4 65 5a Colo F & 1... loo 25 15 24 Colo Southern. JOO 39 8814 Col G & K... 4.IMM On B5 64 Colum Graph. 1,100 2 2 2 Con Gas MJO 91 90 88 Cons Cigars ..... ..... 20 do prd 68 ContI Can ... 200 47 47 4(1 Cities Soc Bnk 20 Corn Prod . .. 7.800 95 93 93 do pfd 109 Cosden Oil .... 16.00 3)1 33 i.1 C H 1 & P.... l.MMl 81 81 81 do A pfd .. 200 84 84 83 do B pfd... 4O0 72 71 70 Crucible 6,700 67 64 64 do pfd f Cuba Cane B.onfl n 8 8 do pfd 2.3O0 In?, 1514 15 Cub Am Sug.. 4..0M) 15 5. 14 14 Del & Hudson 21) 107 lli 100 Dome Mines... 1M) 18 18 18 I'el&Lack... KIM) 117 117 117 Bav Chem... 1 8.0O0 52 SO 50 Fndl Johnson. 2..VI0 78 78 76 trie 4..K)0 10 10 10 do 1st pfd.. i))M 10 1514 16 do 2d pfd... 2.0OO 11 10'j 10 Farn Players.. B.4O0 78 75 Tfl led M & S 2iM) 9 9 8 do pTd 4O0 89 38 87 Fik Tire 8.200 13 12 12 Gaston Wms 8 Gen Cigars 300 68 67 7 Gen Elec 1.3O0 140 137 137 Gen ilotnr 3.000 10 9 9 Gien Alflen 43 '4 43 43 Gen Asphalt.. 24.O0O 05 61 61 Goodrich UOO 30 33 35 Good) ear llt Granny 100 28 28 28 Gi Nor Ore... 9M MT, 31 31 Gt Nor pfd.... 2,400 73 73 73 Creene Can.... 300 27 27 27 Gulf S Steel.. . 2,400 47 45 4,' Bask Barker. .TOO 78 76 76 Houston oil... 7.2IM) 79 74 74 Bupp Motor... 5O0 11 11 11 Ills Cent 4iM) 98 97 97 Inspiration ... 1.500 40 88 38 Int A C com 7 do pfd 34 Ir.torboro l.soo 1 .1 1 do pfd UK) 4 4 3 Interstate Cal. 1..MMI 5 R Int Harv .... 2,400 81 (4 79 1, 711'. Int Merc Mar. 1.7M 14 13 13 do pfd 8,91)0 no 62 02 Int Nickel 2.5O0 12 11 11 Int Paper 5,4io 52 60 50 do pid 90 Invlnc Oil 17.4IM) 14 13 13 I.sland Oil 2.IMM) 2 2 2 Jewel Tea.... MM) 11 10fi lir K C Southern. I.mmi 23 23 22 do pfrl 2O0 52 52 52 Kelly-.SiKfld. . 27.4oo 41 37 3lli Kennecott ... 3,."HM) L')l7, '25 25 Keystone Tire 800 17 l.H 13 Lack Steel... 1,101) 40 45 44". Lee Tire 500 27 27 27 I.ehlgn valley a.liMJ 57 00 .'1. LorilUird 150 l.owe Theaters 1.200 13 13 13 LAN I08 Jliwkay :tVJ Morion. 1 Oil.. 2.10O 27 25 25 juay Lpt airs. -wo inn mi , ii Mex Pet 41. (Mill 11:19, ION', 0! Miami 1.KM) 27 27 27 HI id States Oil l.lcio 13 12 12 Midvale Steel. T.Soo 284 27 27 k KtT 'W'l' 500 834 8 8 do pta I . .'HMI 201, 23i 2. 1ont Power.. 500 4 fiHi B.l.i Mont Ward... 2.300 l:t 13V 13 to r-ac sou ji itvs 17 do pfd IMMl 47, lj 43 44 Kw Amn 40O 43 44 44 IMat rflscuil u u, 115 12.t Nat Knamel.. 3,200 36 34 34 Nut Lead 82 jvevsfin i-on.. j'wi ir, 744 )4-, FOR SALE Pure Chicken Manure In barrels. Price $1.00 for 200-pound barrel. Special price on ton lots. Can be shipped any place. The Savinar Co., Inc. 100 Front Street, Portland. Or. New Haven . . . Norfolk W. . Nor Pacific. . . Not Scot Steel N Y Air Hrkc N Y Central. . Okla Prod ref Ontario Silver Ontario & W. Otis Steel.... Pciflc Bev. 1 Pac Gaa Klo Punta Allegrc Pacific Oil... Pan Amn Pet. do "B" Penna People Gas. . Pere Marqutte- Pure Oil Phillips Pet. Pierce Arrow. Pierce Oil.... Pitts Coal..., Pitta W Va do pfd Pressed 8t Car Pullman Kay Cons).... Reading ..... Remington . . . Keplogle Steel Republic IAS do pfd Rep Motors. . . Roy Dutch Oil Ry Steel Spg. Stand Oil N J Sears Roebuck Shattu:k. Arts Shell TAT.. Sinclair Stand Oil Ind Slogs Shef. .... Sou Pacific . . Sou Ky Stand Oil Cal. St L & 8 F... Strom Carb... Studebaker ... Swift A Co. .. Tenn C A C... Toxas OH Texas Pac.... T P C A O... Tob Prod Tran Con OH. Union Oil Del. Union Pac... United Alloy.. United Drug.. Un Food Prod. United Fruit.. Un Rds N J.. Union BAP. Un Ret Stl.. U S Ind AI... U S Rub do 1st pfd.. U S Smelt.... U S Steel do pfd Utah Cop V'a Chem do pfd Vanad steel.. Vlvandou .... Waba.sh do A pfd... do B pfd.... Wolls Fargo.. West Pac .... do pM West Union... West K A il. . " West Md White Motors. Willys-Over .. do pfd Wilson Pack.. Wis Central.. Woolworth ... Worth Pump.. W A L K White Oil V 8 2s reg do coupon. . . u & 4s reg U S cv 4s cou. Panama 3s reg do coupon.. Atch gen 4s. . D & R con 4s. NYC deb 6a. I.200 13 12 21 M 90 9H 2.800 77 76 " ioo 'is" 5" . 20 73 73 1,000 2 2 100 -200 5.7O0 17. 70O 14.7W 1.9UO 2,900 1.200 1.300 11. IM0 3,300 1.300 2.5O0 l.hoo 2O0 10O 400 3,000 IX )0 6,300 400 l.OOO 200 1.10O 6.300 L3IMJ 3,500 10,600 80O 800 18,600 14.000 1.000 6.1O0 1.2IM) 7.7O0 700 1.400. 40,100 " i',400 83.300 8.200 9,300 WOO 8.500 2.000 1,600 200 400 2,000 7O0 1IM 10O 6,200 1.81)0 6,000 200 200 16,600 600 4,200 6O0 100 8,000 100 7110 400 20 10 8 64 33 47 52 40 34 62 21 38 83 13 11 63 25 77 65 107 15 72 "26 62 85 8 50 89 179 64 8 38 V, 21 88 36 79 18 984 21 39 84 95 10 45 26 26 63 11 18 178 25 72 10 123 8 70 V 52 40 64 100 36 84 114 63 28 68 31 7 6 20 20 9 8 64 31 45 49 44 83 60 19 33 30 13 11 62 24 77 64 105 14 71 25 50 S3 7 49 1)5 171 61 8 37 V, 19 84 36 . 78 18 93 20 86 80 93 10 43 25 24 61 10 17 125 25 70 9 120 8. 70 V, 50 38 62 99 35 82 114 61 28 68 30 7 6 2U 500 17 16 1,300 400 1,61)0 8. 10 100 300 2O0 80O 3"0 200 4.700 50 8 40 3 27 28 140 45 7 10 49 ' 8 88 5 27 28 23 130 44 7 9 BONDS. 101 !N Pac 4s lol I do 3s 104 Pac TAT 5s. . 104J4 Pa con 4s... 00 is fac cv os. . . SOiS Railway os.. 85 V Un Pac 4s 73U 8 Steel 5s.. 08 12 96 44 76 23 SS 73 2 4 20 8 63 30 45 49 45 33 60 19 35 SO 13 11 61 24 77 63 106 V, 14 71 24 25 50 83 . 7 49 94 171 61 8 38 19 84 36 78 18 93 20 36 80 91 10 43 25 23 61 10 17 126 25 70 0 120 V4 8 70 60 38 62 99 35 82 V4 114 61 27 67 3 6 8 20 13 67 16 61 90 49 8 38 3 26 27 25 140 44 6 84 00 92 1)3 i).-,y, 87 86 90 Bid. Liberty Bond Quotations. Liberty bond and vlctnrv nnl. tlons at New York,-as furnished by Decs. coolie company or Portland r inen W i ch I.nv Liberty, 3a ... 95.00 93.04 04.84 do 1st 4s. , do 2d 4s do lst4s.... 97.06 97.14 96 52 do 2d 4s.... 96 58 1)0.00 UU.OO do 3d 4 .... 97.58 97.58 97.18 do 4th 4 Us K7.20 07 22 11)1 50 Victory. 4s. ...100 04-100 08 100.02 do 3s 100.04 100.06 100.04 quota- Over- Bia. 94.90 l)H 00 96.00 96 70 96.14 97 24 96 74 100.02 100.02 Mining Stocks at Boston. BOSTON, Jan. 3. Closing quotations: Allouez 2:i i. Mohawk 55 Arls Com K1 North Butte ... 13 Cal and Ariz... 58 lOld Dominion .. 23 Cal and Hecla. .270 I Osceola 81 Centennial .... 9 Superior 2 Cop Range .... 38Supr. A Boston. 1 Kast Butte .... 11 Shannon 1 Franklin 111'tah Con 1 Isle Royalle .. 23 I Winona 35 Lake Copper . . 2lWolverine ..... 10 Swift A Co. Stocks. Closing prices for Swift A Co. stocks at Chicago were reported by the Overbeck A Cooke company of Portland afl follows: Swift A Co 91 Llbby, McNeil A Llbby 4 National Leather 1 Swift International 20 Money, Silver, Ktc. NEW YORK. Jan. 3. Call money strong. Btgb, 5; low, 5; ruling rate. 5; closing bid, 4; offered at 5: last loan. 5. Time loans firm; 60 days, 5e5 per cent; 90 days, Sg5 per cent; six months, 63 per cent. Prime mercantile paper, 5dt5. Foreign bar sliver, 64 c. Mexican dol lars. 48 c LONDON, Jan. 3. Bar silver, 34 d 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 quotations furnished by Berrin & Rhodes, Inc.. of Portland French 4s. 1917 4R v 49 do 5s. 1920 72 73 do 5s. 1931 61 62 do 7s. 1941 94 do 8s. 1945 99 10" German W L 5s 4 3 Berlin 4s 4 6 Bamburg 4s 4 8 do 4s 6 6 Lelpslg 4s i do 5s 8 Munich 4s 6 7 do 3s 6 8 Frankfort 4s , 6 8 Italian 5s. 1918 33 Jap 4s. 1931 72 73 do 1st 4s, 1923 87 8T do 2d 4s. 1923 80 ' 8 Norway 8s, 1940 108 109 Russian 5s. 1921 12 14 do 5s, 192S 2 8 do 6s, 1919 12 14 Swiss 5s. 1929 95 96 do 8s, 1940 114 113 United Kingdom 5s. 1922.. .100" 10014 do 5 s. 12 98 98 do 6s, 1937 95 95 Foreign Exchange. Foreign exchange rates at the close of business yesterday, furnisb-d by North western National bank of Portland. The amount quoted Is the equivalent of the foreign units In United States funds: Austria, kronen .0008 Belgium, francs 0782 Bulgaria, leva 0095 Czecho-slovakia, kronen ........... .0159 Donmark. kroner .021)3 England, pound sterling 4.2400 Finland, finmark, ................. .0206 France, francs .OHIO Germany, marks .0)100 Greece, drachmas .0433 Holland, guilders 3)192 Hungary, kronen 0O21 Italy, lire .01.17 Jugo-Slavla, konen .0045 Noway, kroner ......... .... .1)10)) Portugal, cscudoa .0910 Roumanla, lei 0093 Serbia, dinara ......... ........... .017)1 Spain, pesetas ........ .t. ......... .1510 Sweden, koner .................... .2510 Switzerland, francs .1955 China Hongkong, local currency... .651 1 Shanghai, taela 7750 Japan, yen a 4850 NEW YORK, Jan. 8. Foreign exchange heavy; Great Britain, demand 4.20, cables 4.20; France, demand 8.03. cables 8.04; Italy, demand 4.26. cables 4.27: Belgium, demand 7.82, cables 7.63; Germany, de mand .53, cables .63; Holland, demand 8682. cables 36.88; Norway, demand 15.85; Sweden, demand1 24.1)5; Denmark, demand 20.00; Switzerland, demand 19.40; Spain, demand 14.96; Greece, demand 4.36; Argen t'ne. demand 83.30; Brazil, demand 12.87; Montreal, 95 c. Standard Oil Storks. Standard Oil stocks at New York, fur nished by Overbeck A Cooke company of Portland: Closing Bid. - Ask. Anglo 17 17 Borne Scrysmer 325 850 Buckeye 83 86 Cheesebrough ISO 190 do pfd 104 107 Continental 125 128 Crescent 28 30 Cumberland 120 130 Kurcka 78 8)1 Galena com 40 42 do Old pfd 103 IOH do New pfd 100 105 Illinois Pipe 100 164 Indiana Pipe 82 83 National Transit 28 29 New York Transit 140 145 Northi rn Pipe 90 95 Ohio OH 27 270 International Pete, ex-dlv ... 16 17 . Penn Mex 17 18 Prairie Oil 553 5)15 Prairie Pipe 235 233 Solar Refg 830 350 Southern Pipe 74 77 Southern Pen Oil 197 200 S. W. Penn Oil 60 64 S. O. Ind 88 88 S. O. Kansas 563 575 S O. Kentucky 4S5 445 S. O. New York ; SH8 372 S. O. Ohio 887 898 do pfd 112 113 Swan A Finch 25 83 Vacuum 30 s S15 Washington 30 35 S. O. Nebraska 100 170 Imperial 108 108 HOGS LOWER AT CLOSE PRICES DOWN 30 TO 35 CEXTS AT STOCK YARDS. Am Tel A Tel 6s 19: do 6s 1924 Am Tob 7s 1922 do 7s 1923 Anaconda 7s B....... 1929 do 6s A 1929 Armour cv 7s 1930 do 4s 193!) Argentine GI 6s.-. 1945 Am Ag Chm 7s 1941 Both Steel 7s 1922 do 7s 1923 do eq 7s 1935 Belgium ext 7s 1945 do 6s 1925 do 8s 1940 Bergen 8s, city of 1945 Berne 8s, city of 1945 Brazil 8s 1941 Canadian 6s 1926 do 5s 1931 C A N W 6s 1936 do 7s 1930 C M A 8t P gn A rf 4s A... 2014 Can Nor 7s 1940 Chile 8s . 1941 Christiana 8s. city of 11)43 Copper Bxp 8s . 1922 do 8s 1923 do 8s 1924 do 8s 1925 Cuban Am Sugar 8s 1931 Con Gas cv 7s 1925 Dia Match 7s 1935 Denmark 8s ; .' 1943 Dupont 7s 1931 French ext 8s 1943 do 7s 1941 Grand Trunk 7s 1940 Goodrich 7s ...1925 Goodyear 8s 1941 Gulf Oil 7s 1933 flreat Northern 7s 1936 Humble Oil 7s 11)23 Int Rap Tr ref 3s 1906 Int Mar CT 6s 1941 Kelly Springfield 8s 1931 Kennecott 7s 1130 I.ibbv. McNeil & Llbby 7s 11)31 Morris A Co 7s 11130 Mexican Pet 8s 1930 NYC call 7s 1930 Norway hs 1940 N P A Q N Unt) 6s ., 1936 N P 6s - 2047 Northwest Tel 7s 11)41 Ohio C G Pan Ainer 7s , Pcnna 6s Rus Rubles 5,:S San Paulo 8b Southwest Tel 7s Swedish Govt 6s Standard oil, N Y 7s 11)31 Stand Oil of Cal7s 11)31 Steel && Tube 7s. Swiss 8s Sears Roe 7s do 7s Sinclair 7s Swift A Co 7s .... Un Tank 7s 1H30 II S Rubber 7s. , 11)30 Wilson 1st 6s 1928 West Elec 7s 1925 Westlnghouse 7s 1931 Zurich 8s 1945 . .19: . . 1930 . . 1936 . .1920 ..1931! . . 1925 .1939 .1951 .1940 .1922 .1923 .1925 .1925 100 9!) '4 101 102 11)1 97 101 86 77 100 100 100 100 104 95 108 100 107 104 96 94 107 103 57 109 101 100 V4 101 101 103 104 102 103 107 107 104 99 94 109 96 110 103 107 99 54 89 102 101 99 1l)2' 99 106 108 106 1 06 107 99 95 104 3 101 100 94 108 V, 106 97 114 98 98 98 100 103 104 83 103 105 107 Larger Part of Receipts Come Di rect to Packers Other Lii)es Are Unchanged. Eighteen loads of stock were received at the yards, all but three being nogs, and of these 12 loads'came as a direct ship ment to packers. The hog market was weak end lower and the close showed losses of 80(& 35 cents. with the regular top on prime lights standing at $.8.40 8.65. There were no changes In other lines, but the general undertone of the market was easy. Receipts were 60 cattle and 2081 hoga The day's sales were as follows: . Wt. Prlee.l wt. Price 4 steers. 1043 $ 6 75 1 bull . . lnno S 3.50 1 steer.. 1N0 6 .30! 4 mixed 520 8 00 2 steers. 83. 6 ol 7 hogs. . 189 8 63 7 steers. 967 5.601 8 hogs.. 226 8.15 17steers. 792 6.23 15 hogs. . 251 7.65 31 steers. 992 6 25' 1 hue... 540 6.23 4 steers. 907 6.75 13 hogs. . 235 6.2.1 2 steers. 993 6 60'5 hogs, . 99 8 73 2 cows.. 945 3 00 31 hogs.. 14S 8.83 lcow.. 880 2.751 3 hogs.. 216 8.75 lcow.. 1080 8 601 5 hogs.. 198 8.75 lco.. 11)10 4.30l4hogs.. 177 8 75 lcow.. 1280 4.00, lhog... 2SO 8 63 lcow.. 1250 4 501 4 Iambs. B2 6 50 8 cows.. 926 5 O0:83 1ambs. 86 7.50 lcow.. 680 5.001 2ewes.. 115 4.50 lcow.. 10)10 4.50, lbuck.. 130 3.50 2 cows., 1120 5.001 lbuck.. 210 2.00 16 cows.. 910 3 75 23 steers. 905 6 25 4 cowsv 950 5.00' 3 steers. 720 8 00 4 cows.. 1031 B 30'12cows.. 1031 6.50 lcalf.. 1)10 8 OOi 2 cows. . 1090 4.50 lbull.. 1240 3.251 Prices quoted at the Portland Union stockyards were as follows: Cattle , ' Choice steers $6.73 7.M Medium to good steers 6.25 W 6.75 Fair to medium steers 5.73(J 8.25 Common to fair steers 4.75 5 75 Choice feeders 6.00 "o 5.5 Fair to good feeders 4 5DSI 5.00 Choice cows and heifers 5.250) 5.75 Medium to good cows, heifers.. 4.75 5.25 Fair to medium cowe, heifers.. 4.25ro 4.75 Common cows 3.25 IS 4.25 Canners 2.25 8.23 Bulls 8 00 4.00 Choice dairy calves S.OOWIQ.OO Prime light calves 8 (Ml ft' OO Medium light calves . . 6.00 8.04 Heavy calves 5.00 6.00 Hogs Prime light 840 8 65 Smooth heavy, 230 to 300 lbs.. 7.50 8.00 Smooth heavy, 300 lbs and up. 6.60 7.50 Rough heavy 5.40 6.65 Fat pigs 8.50 8.65 Stags, subject to dockage 4.00 6.00 Sheep Kast-of-mountln lambs 8 00 8 50 Best valley lambs 7.50 8.00 Fair to good 5.50 7 00 Cull lambs 3.50 5.00 Eastern Oregon feeders 6.00 7 00 Light yearlings 6.00 7.0C Heavy yearlings 5.00 8.00 Light wethers 4 50i a Heavy wethers 4.00 6 00 Ewes 1.00j) 5.00 Chicago Livestock Market. CHICAGO. Jan. 3. (United States bu reau of markets.) Cattle Receipts. 7000; quality plain: beef steers falrlv arrive. Foreign Bonds. Foreign bond quotations furnished by Overbeck A Cooke company of Portland: Belgian rest 5a 64 68 do prem 5s 73 77 do 7s. 1943 104 104 do 8k, 1041 108 100 V4 do 6s. 1925 95 93 Brazil 8s. 1941 104 104 British 6s. 1922 430 440 do 5s. 1927 423 438 do 6s, 1929 424 434 do vky 4s 332 342 do ref 4s 308 318 Bordeaux 6a, 10.14 i..-85 85 Canadian 5s. 1937 94 93 do 5s. 11428 95 98 do 5s, 1028 9)1 96 do 5s, 1931 94 95 do 5s. 1927 93 96 Chilean 8s. 1941 101 101 Currency 8 9 Denmark Rs. 1945 .....107Vi 107. Dan Muni 8s, 1915 . luti 106 I Your Special Attention is called to the gTeat convenience of having: , a Checking: Account with Ashley & Rume lirt, Bankers, and making: payment by this safe, economical and business-like medium. HOURS-8 A M TO 530PM S ATU RDAYS 8AM TO 8 RM January Funds We own and of fer, subject to prior sale and change in price, the following bonds which we recommend as attractive investments: STATE, MUNICIPAL AND TERRITORIAL BONDS (Prices of all New York City Issues on Application) Marion County, Oregon Highway Bonds Spokane Co., Wash., Highway Bonds Westchester Co., N. Y., Parkway Bonds .... Newark, N. J., Water and Port Imp. Bonds . New York City, Gold Corporate Stock Yonkers, N. Y., Water Bonds , Muskingum County, Ohio, Road Bonds Philippine Islands, Pub. Imp. Cpn Philippine Islands, Pub. Imp. Reg Interest Rale . SVz .. 5 . 5 . 5V2 .. 4V8 . ,4Va . 6 . 5V2 .. 5y2 Maturities 1930 1932-34 1950-60 1938-51 1971 1924-48 1929-30 1941 1950 Opt30 Yielding About ?o . 4.90 4.80 4.10 4.25 4.27 4.30-4.20 5.00 5.00 FOREIGN GOVERNMENT BONDS Gov'nment of Switzerland, 10-year Gold Bonds 5y2 1929 Swedish Government 20-year Gold Bonds 6 1939 Kingdom of Denmark, 20-year Ext. Loan 6 1942 City of Berne, Switzerland, 25-yr. S. F. G. Bonds 8 1 945 City of Christiana, Norway, 25-yr. S. F. G. Bonds 8 1 945 Japanese Government (Ster. Loan), 20 pieces 4 1931 Japanese Government, 1st (Sterling Loan) ... . 4V& 1925 SHORT-TERM AND INDUSTRIAL SECURITIES Consol. Gas Co. of N. Y., Sec. Gold Notes. '. 7 1 922 American Sugar Refining Co., 15-year 6 1937 Kingdom of Norway, G. S. F. Ext. Gold Bonds. .. 6 1923 Copper Export Assn., Sec. Gold Notes 8 1923-25 Swift & Co., 5-year Notes. . . 7 1925 Anaconda Copper Mining Co., Secured 7 1 929 Hocking Valley Ry., Col. Tr : 6 1924 Kingdom of Belgium, Non-Conv. Gold Notes ... .6 1925 2047 1936 1930 1936 1930 1936 1927 5.00 6.10 6.45 6.50. 7.25 7.45 8.10 8.40 5.85 6.15 6.45 6.55-6.35 6.80 6.80 7.25 7.80 5.13 5.60 6.00 6.00 6.15 7.05 7.45 8.20 RAILROAD BONDS Canadian Pacific Ry., Consol. Deb. Stock .' 4 Northern Pacific Ry., Ref. and Imp 6 Pennsylvania R. R. Co., 15-yr. Secured G. Bonds 6Vz Louisville & Nashville, 10-year Gold Notes. . .- 7 Great Northern Ry., Gen. Mtg. Gold 7 Chesapeake & Ohio Ry., Conv. Gold 4Y2 The Cuba R. R., 1st Lien and Ref. Mtg 7Vz Central Argentine Ry., 10-year Conv. Gold , 6 PUBLIC UTILITY BONDS New York Edison Co., 1st Lien and Rfg 6V2 Pacific Gas & Elec. Co. 1st and Ref. Mtg Pacifc Gas & Elec, 1st and Rfg., Series "A".-. Toledo Edison Co., 1st Mtg. Gold Bonds. Potomac Elec. Pr. Co., G. & R. M., Series "A" Consumers' Pr. Co., G. and Rfg., Series "A" . . Portland Ry., L. & P. Co., 1st L. & R., Ser. "A" Cuban Telephone Co., 1st L. & R., Series "A" Our January offering circular will be sent upon request. The National City Company National City Bank Building, New York PORTLAND OFFICE, YEON BUILDING Main 6072 Offices in more than 50 cities in tlie United Stales and Canada 6Vz 1941 5.95 6 1941 6.02 7 1940 6.50 7 1941 6.60 7 1941 " 6.60 7 1930 7.07 712 1946 7.22 712 1941 ' 7.25 strong- to 2 fie hlRher: rood 1300-pound steers I8 60; bulk beet steers, B.75 7.75; she stock, calves, stockers and feed ers steady; bulls firm, bolognas largely S4.15r4.33. Hogs Receipts, 15.000; slow, largely steady to 15c lower than yesterday's aver age; llirht and llKht butchers off most; UsTht lights steady to 15c higher; big pack ers doing little; top 8.L'5 for light lights; practical top on lights $S; bulk of sales, $6.75 7.35; pigs mostly steady, bulk desir able, $8. io n.-ih. Sheep Receipts, 15.000; fat lambs steady to strong; fat sheep 25c higher; fat lamb top. early, til. 05; some held higher; choice 121-pound ewes. $6; heavy natives, S4.50; talking steady on feeder lambs. Omaha, l ivestock Market. OMAHA, Jan. 3. (United States bureau of markets.) Hogs Receipts, WM)0; opened 1015c higher, closing with ad vance lost; bulk light butchers, 180 to 210 psunds Jt1.!0'i7.05; top. $7.10; bulk 210 to 260-pounders, $0.506.85; packing grades. (505.75. Cattle Receipts, 2700: beef steers and she stock steady to 25c higher; best year lings here, 17.50; bulls and veals strong; stockers and feeders, steady. Sheep Receipts, 8000; killing classes, steady to strong; bulk lambs. S10.35 1060; top. 110.75; yearlings. $8: ewes, $4.85; feeders fully 25c higher; top feed ing lambs, $9.90; ' Kansas City Livestock Market. KANSAS CITY. Mo.. Jan. 3. (United States bureau of markets.! Cattle Re ceipts, 9500: all classes around steady, un dertone woak on beef steers and she stock: medium weights steady, ihi others 5.40 7.60; better grades cows $4.50&5; com mon and medium mostly $3.75 4.25; bulk good canners $2.50; most bulls $3.25&'4; top vealers $: packers, $4.25 6; good light feeders $6.50. Hogs Receipts, ROOfl: shippers buying 140'5'220-pound hogs steady with yester day's shipper market; $7.35 paid for 100 i' 175-pound weights; $6.85J7.15 for 190io 210-pound weights; others to packers 104 15c higher than yesterday's average; packer market, best kind to packers, $6.80 ft 6.K5; bulk of sales, $0..M 7.25; top. $7.35; packing sows and pigs low and weak. Sheep Receipts, 8000: sheep steady: 106-pound shorn wethers, $5.50; lambs, strong to 15c higher: fed westerns, $11.25. Seattle Livestock Market. SEATTLE, Jan. 3. -Cattle. steady ; re ceipts, 150; no price changes. Hogs, steady, no receipts, no price changes Dried Trait at New York. NEW YORK. Jan. 3. 'Evaporated aj ples, nominal. Prunes Firm. California, 616c; Ore gons, 614Hc. Apricots Scarce. Choice, 2423c; ex tra choice, 2526c; fancy, 3133c. Peaches Few offered. Choice, 13 14Vtc; extra, choice, 14ibl5c: fancy. liWiOttc. Raisins Quiet. Loose muscatels. 14 0 1614c; choice to fancy seeded, 1415V?c; seedless, 18lHc. Coffee Futures Weaker. NETV YORK, Jan. 8. The market for coffee futures weakened on reports of lower rallreis nnotntlnns n Rrnjiil and In sympathy with declines in other com modity markets. May sold off from 8.60o to 8.45c and the market closed at a net decline of 7 to 9 points. Sales were esti mated at about 81.000 bags January, 8V2c; March. 8.63c; May. 8.45c; July. 8.42c; September, 8 42c; October, 8.45c; December, 8.50c. Spot coffee was reported in moderate demand at 9e to 94,c for Rio 7s and to 12ic for Santos 4s. FOREIGN EXCHANGE Lowest Rates. Watch Our Window, Direct Wire Service from New Tork. THASiS-ATLA.MIC KSTATIiS CREDIT CO. 103 Second St., Near Stark. Marshall 20S. HERRIN & RHODES, Inc. Kstabllshed 1X! STOCKS, BONDS, COTTON, GRAIN Correspondents E. P. HUTTON & CO.. N. T. .Members all leading exchanges Babion'fi Service on File. Main 283 201 Railway Jtx change Rid. Income Tax Exempt Improvement Bonds Portland Due 1931 (optional) Bonds Are General Obligation of City PRICE TO YIELD 5 LIJMBERMEINS Tkrrfs TQvnAarr -RANK Broadway and Oak New Issue $150,000.00 TILLAMOOK COUNTY Road 5 Bonds Dated Due January 1, 1922 Serially 1932-1936 Principal and Interest payable at the Fiscal Agency of the State fii Oregon in New York. City, at the office of the County Treasurer in the city of Tilla mook, or at the offices of G. E. Miller & Company, Portland and Seattle. Denomination $1000 Assessed Valuation (1921) Total General Bonded Debt, including this issfte. Population, 1920 Census, 8810 Amounts Maturities $30,000 due January 1, 1932 '. .$23,644,705 408,450 Price .103.90 .104.19 .104.47 30,000 " " " 1933 30,000 1934 30,000 - - - 1935 104.74 30,000 1936 104.99 Prices" to Yield 5 . Federal Income Tax Exempt. G. E. MILLER & COMPANY PORTLAND SEATTLE 2d Floor Northwestern Bank Bldg. Main 4195 Reserve Now Pay Later We own odd lots of" the following fine issues. If yon want some of them for immediate delivery or later to suit the convenience of your funds, or for payment on the Partial Payment Plan, let us hrar from you. Yield 5.75 5.75 5.75 6.25 Clatsop Co., Or., S. D. No. 10 6s, 1941 Duo Nov. 1. 1941. M&N. D. i00 101.88. Port of Kalama, Wash., 6s, 1924-35 Due Dec 1. 1924-35. J&D. D. $5004j!lOO. 68-101. 38. Tillamook, Or., 6s, 1931 Due Jan. 1, 131. J&J. l. JS00O101.60. Exeter, Cal., Imp. 7s, 1926-27 Du July 2. 1926-27. JiJ. D. $1000. J300. JlflO 102.71-103.45. 6.15 American Sugar Refining Co. 6s, 1937 Due Jan. 1, 1937. J&J. D. $1000-$500tf 98.50. Nevada-California Elec. Corp. 6s, 1926 Due Apr. 1. 1926. A&O. D. J100093.50. 8.00 8.00 9.15 j;6.20 7.00 7.00 17.50 17.50 7.65 Wilson & Co., Inc., 7V2s, 1931 Due Deo. 1, 1931. F&A. D. 11000(96.50. Goodyear Tire & Rubber Co. 8s, 1931 Due May 1. 1931. K&A. D. HOOO-ISOO-llOOiaSS.BO. Kingdom of Norway 3V&s, 1962 Due Apr. 1. 1962. AAO. D. f 200-40-f 20mkt. Argentine 7s, 1923 Due Oct. 1. 1923. A&O. D. $1000iffl00. Vancouver, B. C, 4 Vis, 1923 Due Feb. 1, 1923. F&A. D. I486. 67 97.44. U. S. of Brazil Sterling 4s, 1945 Due Oct. 1. 1945. Afc'O. D. fl000-500-l0 mkt U. S. of Brazil Sterling 5s, 1934 Due Aug. 1, 1934. F&A. V. 1000-500-100Tnkt. Bordeaux, Lyons, Marseilles 6s, 1934 Non-f!ill;ibl'. Due Nov. 1. 1934. M&N. J1000-J500. $1(KU 86. &0. R Is minimum ylrM; i of Issue payable throaKh elnkln fund purhase or "call" up to 10 1 ',4. to. 15 Is minimum ylfld: all of lssu to be retired tbroush sinking fund purchase or "call" and at maturity at 110. t Reprrst'nts current Income. "With exchange at par these bonds will have maturity value of 7.'rc to 100 abnvx present market value and the income will be Increased proportionately. Wire orders "collect' BUY NOW Pay later. Earn as you save pay as you can. How? Ask us. FREEMAN, SMITH & Camp Co. Lumbermen Bldo Portland ji FIFTH AND STARK CITARK KENDALL b CO- inc If GCVESNMJXT MUNIClRAiAMD CORPORATION BONDS tii. i ii-- f 1FTH AND STARK ST REITS - PORTLAND OttEGON AA International Paper Company First and Refunding Mortgage 5 Gold Bonds Denomination $1000 Due January 1, 1947 Redeemable at 102 This Company is the larpest manufacturer of paper in tho world and has fixed assets conservatively valued at 161,000,000, or over three times the amount of its total funded debt. Average annual earnings for the last ten years are approximately fiv times annual interest charges on its indebtedness. V Moody's Investors' Service gives bonds issued under this mort gage the high investment rating of "AA." PRICE: 87 AND INTEREST Our allotment offered subject to prior sale We Offer, for Immediate Delivery, the Fol lowing Canadian Bonds Price. Ylrld. Grand Trunk Ry. Canada Guar. 4s, due 1962 75.85 5.50 Grand Trunk Ry. Canada Guar. 3s, due 19G2 59.75 5.507o Prov. of Alberta 6s, due 1941. . . 102.35 5.80 Prov. of Alberta 6s, due 1931. . . 100.75 5.90 Grand Trunk Ry. Sask. Guar. 4s, due 1939 78.75 . . 6.00 Grand Trunk Ry. Alberta Guar. 4s, due 1942 76.90 6.00 Prov. of British Col. 5s, due 1928 94.75- 6.00 Gov't of Newfoundland 6V2S, due 1928 102.00 6.12 Prov. of Manitoba Guar. 4s; due 1930 85.50 6.23 Prov. of British Col. 6s, due 1926 98.88 6.30 Prov. of Manitoba 6s, due 1925. 99.10 6.30 Prov. of British Columbia 5s, due 1925 96.15 6.40 Prov. of British Col. Guar. 5s, due 1923 98.00 6.75 Write, phone or call at our office for complete Information and descriptive circulars on the above issues. Blyth, Witter. & Co. FOl-RTll AND STAKK STREETS 1'hone Ilroadwajr 64M Seattle Francisco A Anselr New York ttTHIWHl 1