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