21
TIIE MORNING OREGONIAN, FRIDAY, JANUARY 13, 1922
IK HOLD OFF,
BUT HIDES STEADY
Market Has Not Recovered
From Year-End Rest.
DOMESTIC STOCKS LIGHT
Ko Kosiimptioii of Trading: . in
Country Varieties Calfskins
.Dull and Prices "Weak.
The hide markets throughout the coun
try have not jet recovered from the year
end dullness and no trading of conse
quence hmi developed in the domestic
packer markets. While tanners admit
the exceptionally strong statistical posl-
tlon, they complain that hides are not
cheep, no matter what the price, If they
cannot make moniy out of the raw prod
uce, and they still claim that the leather
situation Is unsatisfactory in many ways,
feme interests expect that packers will
ihave to accent declines on some holdings
of all-wrlght native cows which run back
tmo November, but on branded lines,
which are in very small supply, owing to
light kill, prices appear steady.
So resumption of trading has developed
In country hides. While the market Is
down from th former top level, the un
dertone seems fairly steady at laat ratea,
nd most larger dealers will not consider
some lower prices talked by tanners on
mall holdings of good hid. Dealers
may that the kill In the country is re
markably light, and that this will have
a sustaining Influence, At the same Um
hides now coming Into the market are
mostly of poor quality.
In foreign hides, previous high limits
prevailing on River Plate frlgorlflco steers
Jiav receded. Other lines of foreign wet
raited hides are affected In sympathy.
Common varlotirs of Latin-American dry
hides are steadier. If anything, with a.
regular demand for moderate receipts of
Colombians.
f'Alfsklns In all markets are quiet and
prices have not recovered from the recent
lump.
TRICE READJUSTMENT ORDERLY
Tear Opens With Brighter Business
Frott pert s.
The new year opens with brighter pros
pects and a clearer outlook for a certain
return to stable business conditions, and
for restoration of confidence, says the
monthly trade letter iHwued by Wadhams,
& Co. The process will be gradual at
first, as many Inequalities in values still
exist, and these must be leveled off and
a nevff" foundation laid on which a larger
'and better commercial superstructure will
be built. Readjustments of prices is pro
gressing In an orderly manner, manufac
tured articles are now settling and will
continue as conditions warrant. While the
pace may be disappointing to many. It,
however, assures stability, as a recovery
that Is leas violent and spectacular is more
endurlng.
The financial situation shows a marked
Improvement. The recent rapid advances
In bonds, and the consequent reduction of
interest returns, will tend to check the
heavy and widespread Investments in
these securities, which have been such a
feature of the past two years. This money
will seek other Investments which promise
v larger returns, and an Increase in build
ing operations and a revival of other in
dustries that employ labor may be expect
ed. Our own Immediate territory will be
among the first to- feel the stimulus of
business Improvement. Kar'.y resumption
of logging operations after the usual holi
day shutdown, and an increase in the cut
of lumber. Is relieving the unemployment
problem In our cities. That the future of
this Important industry Is rosy la evi
denced by the fact that some of the larg
eat aggregations of capital In the country
tiave recently invested heavily In our
timber and are preparing to operate ex
tensively. The farmer will be able to reduce his
coat of production the coming season, and
there is no reason why he should not be
able to sell his products at a fair profit.
Every possible financial and governmental
Influence should be exercised to achieve
this, as agriculture Is the foundation of
our national prosperity.
LOCAL WHEAT BIDS ADVANCED
Offers Raised One to Two Cents at Mer
chants' Exchange.
The tone of the wheat market In gen
eral was steady yesterday and a fair
amount of business was reported done in
the country. At the merchants' exchange
hard white, club, soft white and hard win
ter bids were i cent higher and northern
spring and red "Walla were 2 cents higher.
Oats bids were raised 50c(ff$l.
The Liverpool wheat market was firm
and 'irld higher and corn Id higher. At
Kuenos Aires wheat closed unchanged and
corn U d higher.
A private cable from England said Ger
many has bought 50,000 tons of Plate
wheat at a price equal to 45s Qd per
quarter.
Kntern advioea were that 1.200,000
bushels of wheat and 2,300,000 bushels of
corn wore purrhased for Russian relief.
Terminal receipts, in cars, were reported
by the merchants' exchange as follows:
Portland
Wht. Brly. Fir. Oats. Hay
Tuesdiiy 1 ... 1 1 ...
Year Hirt 50- ... 1 ... 12
Feason to date . 20.KJ2 13H 137 rS 103
Year ago 9,3liO 173 47a 328 12UU
THcnnin
"W f d rieHdav .... 15 ... 1 ... ...
Year Hiro 0 ... 8 ... 3
Season to date. 7.006 78 flSl PI .132
Year nao 3,110 4tf '0S3 7tt 680
SeHtt in
Wednesday ........ 1 14
Year aim . ... 4 ... 1
Hanson to date. 5.M0 13r 1404 280 1O40
Year ago 4.Q3J 174 213 289 1023
fc EL LI NO TRICES OK EGGS CXT
Ho Change Marie in Buying Quotation
Hutter Trade Slow.
No change was made In the buying price
of egca yesterday, but selling prices were
unsettled by the action of the association
In cutting its quotations 5 cent to 30
cents for selects, 28 cents for firsts and 23
cents for pull ts. Buyers offered country
ahlppera 20 cents for mixed colors and 25
cents for whites. The San Francisco , mar
ket continued its decline, but bad weather
conditions made for firmer markets In the
east, which leads dealers here to believe
that there may be a reaction in prices
today or tomorrow.
The butter market was slow. Few cubes
could be moved, as buyers were holding
off to s-e if there is another decline. Hut-
W,x MORE
Merchants" and Producers'
Our Outlet Enables Us to
Pay Top Prices
SHIP TODAY
BLUE VALLEY. PRODUCE CO.
Fourth and fMaa Htm.
l"ortlanls Or.
I
EGG
ter markets east and south were firmer
yesterday, and If consumption here could
be speeded up, the local situation would
Improve. Creamery men declare the mar
ket would be better If retailers' prices were
I more nearly In line with wholesale values.
Poultry receipts showed some gain, but
prices were unchanged. Among the ar
rivals were a considerable number of lay
ing hens, indicating that farmers are not
finding; egg raising profitable at present
egg prices.
Week's TChrat Hhlpmenta Lighter.
World shipments of wheat last week and
the same week a year ago were:
Week ending
Jan. 7, 'J- Jan. 8, 21
IT. 8. and Canada.. 8.i;L'4.(K 9.733.000
Argentina 1.117JMIO 44.000
Australia 1.1.VJ,(HMJ 800. (MlO
Others oti.000 1.23.000
Total 10,M!.000 11.809.000
Shipments for the seasan to date com
pare as follows:
Total since Same period
Julv 1, "I Lant season
tr. S. and Canada. ..2r.3.W7.0O0 54.318.000
Argentina 18.3.:.hm 39.2K8.0O0
Australia 4O.84OM)0 1.654.0ftn
Others 2.771MMX) 3.120.000
Total
31. 1.806.000 311,380,000
' Bank Clearinita.
Bank clMrinKB of th Northwestern
cltlt-s yesterday were follows:
Clearinc". Balance.
Portland 4.H47.170 f 642.4119
Seattle 0,716,440 1.-JK8.413
Turonia, total LW1.844
Spokane, total 3,817,4113
PORTLAND MARKET QUOTATIONS
Grain, Flonr, Fred, Etc.
Merchants' Exchangee, noon session:
Bid
Wheat Jan. Feb.
Hard white t 1 "7 1.07
Soft white l. 1.01
White club 1 1 1 .'
Hard winter 1 07 1.07
Nor. spring MM) I.IK
Hvrt Walla 1.02 1.02
Oats
No. 2 white feed Ifl.SO 17.00
No. 2 Cray 26.50 26.00
Harl.y
Brewing 2 O0 28 00
Standard feed v 20. 00 -0.00
Corn
No. 2 B. T. shipment 24.25 24.00
No. 3 K. Y. shipment 24.IIO 23.00
FLOUR Family patonts. 7 per barrel;
whole wheat, $0.20; graham, $6; bakers'
hard wheat, $6.90; bakers' bluestem pat
ents, S6.40; valley soft wheat. J5.4S;
straights, .V25.
MIL.LFEB1) Price f. o. b. mill: Mill
run, ton lots, $21; mixed cars, $20 per ton;
middlings, $34; rolled barley, $343ti;
rolled oats, $36; scratch feed. $43 per ton.
CORN White, $33; cracked. $35 per
ton.
HAY Buying price f. o. b. Portland
Alfalfa, $14.50 per ton: cheat, f 10.50011;
cat and vetch. $14.50 fr 15; clover. $11612;
valley timothy, $14CtFl&; eastern Oregon
timothy, $loitf17.
Dairy and Country Produce.
BITTTER Cubes, extras, 30c pound;
parchment, wrapped, box lots, 35c; cartons,
3rtc. Butterfat, buying prices: No. 1
grade, 31c. delivered Portland.
KtiGS Buying price, 2U'(p2."ic; Jobbing
prices, case count. 2."te; candled ranch, 27c;
association firsts, 28c; association selects,
3Uc: association pullets, 25c.
CHEESE Tillamook -.triplets, price to
Jobbers f. o. b, Tillamook. 2tio; Young
Americas, 27c pound.
POULTRY Hens, 19g2Tc; springs, 203
21c; ducks. 22u2tfc; geese, 2uc; utrkeya,
live, noninal; dressed, 35$38c.
PORK Fancy, 12c per pound.
VKAL Fancy, 15&15 He per pound.
Fruits and Vegetables.
Local Jobbing quotations:
FRUITS Navel oranges, $4.10T box;
lemens, $4 75'96; grapefruit, $4fQ)7 per box;
bananas, br9c per pound; apples, $18.78
per box; pears, $1.75&'2.25 per box; cran
berries, eastern. $20 per barrel.
POTATOES Oregon. 1501.T5 per
hundred: Yakima, $1.75rg2.25 per hundred;
sweet potatoes, OVi'i' 5'c per pound; Nancy
Hall. $2,511 per crate.
ONIONS Yellow, $666.50 per hundred.
VEGETABLES Cabbage. 2H&3c per
pound; lettuce, $44.00 crate; carrots,
$2 per sack; garlic, 15o per pound;
green peppers, 3U35c per pound; bets,
$2 per sack; celery, $7tQ7.50 per crate;
cauliflower. S2 ret? 2.50 per crate; squash,
45c; ffprouts, 17Hc; turnips, $2 per sack;
parsnips, $2(2.50 per aack; tomatoes.
$4.00 per jug.
Staple Groceries.
Local Jobbing quotations:
SUGAR (sack basts) Cane, granulated.
ft.SOc pound; beet. fi.60e per pound.
NUTS Walnuts, new crop, soft shell,
23((f30c pound; Braxll nuts. 18gp20c: al;
monds. 1827c; peauts. 1214c pound.
RICE Blue Rose, 7c per pound; Japan
atyle. 6c per pound.
COFFEE Roasted, bulk. In drums, 18(9
85 14 c per pound.
BaLT Granulated, bales, $3.2094.05;
half ground, ton, 50s, $17; 100s, $16.
HONEY Comb, new crop, $3.50ij;6 per
case,
DRIED FRUITS Dates. 1825o per
pound; figs, $1.403.7 per box; apples,
10c. lb.; peaches, 151917c; apricots. 23
26c; prunes, 7V412c.
BEANS Small white. 5 85c; large white,
4c; pink, 6c; bayo. 6.65c; red, 6c.
Hides, Hops, Etc.
HIDES Salt hides. 5ff6c; salt bulla, 4
5c, green bulls, lc less; salt calf, 12c: salt
kip. 7c; salt horse hides. $l'i,2 each; dry
horse hides. 64jc&$l each; dry hides, &c;
dry cull hides, half price.
PELTS Dry pelts, 10i912e (long wool);
dry short wool pelts, half price; salt pelts,
50c 6 $1 each; dry goat skins, $10 (long
hair); shearlings and short wool skins at
value.
TALLOW No. 1, 4ttc; No. 2, 314c per
pound.
CASCARA BARK 6c a pound delivered,
Portland.
HOPS 1021 crop. 13if22c per pound.
WOOL Eastern Oregon,, 1324c per
pound; valley. 1214c per pound.
MOHAI'l Long staple, 20c; abort staple.
15c pounC
Provisions.
Local Jobbing quotations:
HAMS All sizes, 27 31c; skinned, 27
81c: picnics. 20c; cottage roll, 24c.
BACON Fancy. 87 it 43c; choice, 259
30c, standard, 2225c.
LARD Pure, tierces, 13 Ho pound; com
pressed, tierces, 13c.
DRY SALT Backs, 1821c: plates. 18c
Oils.
LINSEED ' OIL Raw. in barrels, 89c;
6-gallun cans, $1.04. Boiled, in barrels. 111
cents; 5-galln cans, $1.06.
TURPENTINE In drums, $1.15; fi-gal-ton
cans, $1.30.
WHITE LEAD 100-pound kegs. 12 Ho
per pound.
GASOLINE Tank wagons and Iron bar
ela, 2tic; cases. 88 He
SAN rR.VNClSCO PRODUCE MARKET
Prices Cnrrrnt on Vegetables, Fresh Fruits,
Etc., at Bay City.
SAN FRANCISCO, Jan. 12. (State di
vision of markets.) Fruit Apples, 3H
and 4-tier, $1.40 M 8 50; navel oranges
$4ij5; lemons. $1.50413.50; grapefruit,
$2.51)4.75; cranberries, box, $4,5015.50;
pears, box, $24p3.50.
Vegetables Artichokes, case, $1518;
beans, pound, 10tft!18c; carrots, sack, 90o
fr$l; celery, crate, $3.50 6; cucumbers,
small box, $1. 2042.25; eggplant, pound,
15dll7Hc; lettuce, small crate. $142.25;
mushrooms, small box, 5075c; olives,
pound. 5f&9c; onions, brown, cwt., $5.50
tt 6;' white globe, $7.50 7.50; peas, pound,
loVl8c; bell peppers, pound, 20&2."ic; po
tatoes, $2. 15I&2. 85; pumpkins, sack, 75c
iptl; rhubxrb, box, $2.75qi3; squash, sum
mer, small crate, $3 43.5"; hubbard. sack,
$ltfj1.5U; sprouts, pound, 7&9c; spinach,
pound, D(luc', tomatoes, crate, $2.75(3.
Poultry Broilers, 8538c; roosters,
young. 24f32c: old, 1742uc; hens, 2liu
82c; ducks. 2225c; turkeys, live, 86j41c;
dressed. 40fn50c.
Receipts Flour. 1618 quartor sacks;
wheat, five centals; barley, 5138 centals;
corn, 102 centals; potatoes, 2570 sacks;
hay, 40 tons; hides, 2212; oranges and
lemons, 2000 boxes; livestock, 1600 head.
Metal Market.
NEW YORK, Jan. 12. Copper Steady.
Electrolytic spot and nearby, 13414c;
later, 14c.
Tin Firm. Spot and nearby, 33.12c;
futures, 32.87c.
Iron Steady, unchanged.
Lead Steady. Spot.. 4.704.80c.
Zinc Quiet. East St. Louis delivery,
spot, 4 SOc.
Antimony Spot. 4.50c.
Naval Stores.
SAVANNAH. Oa., Jan. 12. Turpentine,
firm; 85c; sales, 90: receipts, 38; ship
ments, 5; stock, 12.760.
Rosin, firm; sales. 729: receipts, 833;
shipments. 6oo; stock. 86.505. Quote: B, I,
E F, G. H. I, $3tf3-'K. $4.75; M, $5.20;
N, $5.50; WO, $5.75t.WW. $6. .
Diiltith Linseed Market.
Dl'LfTH, Jan. 12. Linseed on track,
$2.05 H I 2.10; arrive, $2.115 H & 2.09,
'Cotton Market.
NEW YORK, Jan. 12. Spot cotton,
quiet; middling, 18.20c.
RAIL STOCKS IN DEMAND
COALERS SCORE GAIXS OF OXE
TO THREE POINTS.
Speculative Issues Under Pressure
Victory Notes Advance, but
Liberty Bonds Ease.
NEW YORK, Jan. 12. Business on the
stock exchange today was moderate In
volume and lacking in noteworthy fea
tures. The recent investment demand for
government bonds and other high-grade
securities seemed to, have temporarily run
Its course.
Stocks were firm at the opening, re
actionary during the intermediate period
and irregular later, when offerings of oil,
tobaccos. International Paper and spe
cialties. Including Columbia Graphophone,
common and preferred, at low records,
Invited fresh short selling.
Rails, especially coalers, were the only
stocks to manifest a degree of firmness
or Immunity from professional pressure.
Extreme gains of 1 to 8 points in that
group were reduced at the close. Sales
amounted to 485,000 shares.
Failure of the local federal reserve bank
to order further reductions of rediscount
and Interest rates was without more than
passing Influence on money rates. Call
toans again held at 3H per cent and many
new time loans at 4H to 4 per cent were
reported.
The resignation of the French cabinet.
In which the question of German repara
tions evidently figured, occasioned some
activity In remittances to Paris. Foreign
exchange, as a whole, however, showed
little unsettlement.
An unusually large gain of reserve liabil
ities was the chief item of interest In the
Bank of England's statement. The re
port of the state Bank of Germany showed
credits and deposits were substantially
.'ower.
Liberty bonds eased on realising for
profits, but closed at trifling gains and
losses. Victory 3-is at 100.26 and the 4?4s
at 100.30 made new high records for a
long period. Many of the old-time rail
way bonds were In demand, but foreign
Issues were irregular on latest develop
ments in the French political situation.
Total tales, par vajue, aggregated $22,
S75.000. ,
CLOSING STOCK QUOTATIONS.
(Furnished by Overbock &. Cooks com
pany of Portland).
Sals. High. Low. Bid.
Agr Chem 1,000 3!' SO' 301s
do pfd 500 57' 5?' 57
Alax Rubber.. 1,500 14 , 14 14H
Alaska Gold.. 100 B
Alaska Juneau- Ni
Allied Chem... 1.100 57H o"'i TH
Allis-Chalm .. 7oo an 3SH 38 Ts
do pfd 500 89 '4 88 8
Am Beet Sug. 2.100 34 !i 33 H 33 H
Am Bosch 200 35 35 35
Am Can Co... 2,700 83U 32 32
do pfd 05
Am Car & Fd J43
do pfil 115
Am Cot Oil... 400 21 20 20
do pfd 41 'a
Am Drug Syn 400 4 i 4 4H
Am H & L 300 125s 12 12H
do pfd 1.300 59 59 50
Am Ice 77
Am Intl Corp. 1,700 40 39 3H
Am Linseed 30
do pfd 55
Am L'.co .... 1,800 105 103 H 104 H
do pfd 200 111U 11114 lHVi
Am Sa.f Razor 4f4
Am Sh & Co.. 5.300 7 7 7H
Am Smelter... 600 44 4414 44 H
do pfd , 87
Am Steel Fdy. .100 3214 82H 32H
Am Sugar ... "0 58' 58 H 58 M
do pfd 200 88 4 88 H 8K1,
Am Sumatra.. 200 3314 3314 33 H
Am T & T... 5,100 11 11 110
Am Tobacco.. 900 133 132 132
do "B" .... 700 128 127 H 127 H
Am Wool .... 1,100 80 80 H 80
do pfd 103H
Am W P pfd 23
Am Zinc 2O0 13 H J 3 13
Anaconda .... 2,900 4 in 4 48
Assd Oil 100
Atchison 1.900 94 H 94 B414
do pfd 86
Atl Coast Line 300 84 H 84 84
Atl G & W 1. 1.100 29 2S 28H
Baldwin Loco. 8,800 9514 93 94
do pfd 103
Bait & Ohio.. 1,600 34 84 34H
do pfd 300 5314 53 63
Beth StI "B" . 1,700 50 56 5H
Booth Fish 5H
B R T 6H
Butte C Z.. 200 5 JW. 5H
Butte & Sup.. 1,800 23H 22H
Burns Bros .. (500 115 115 115H
Caddo Oil
000
2H)
2.000
lo v
10 10H
Calif Packg...
Calif Pet ....
do pfd .....
Can Par ......
Cen Leather..
Cerro de Pas.
(18 H 68 14 68 14
45 45 45
S-'H
1,700 121 120 120H
400 3014 30 H 30
34
Chand Motor. 1.100
Chi & N W. . . 800
50H 50 4!)
o- H 6 H2
8 6 5
15 . 15 15
16 1HV,
27 27H 27
18 17 17H
31 3014 30
43H 42 42
65 65 65
24 H
39 39 3!)
67 6 6H
2 1 1
91 91 fu
26 H
.: 26H
46
17
98 96 98
111
S3 32 82
31 81 81
84 84 84
72 71 71
62 61 H 61
82
8 8 8
17 17 16
16 16 16
Chicago Gt W 100
(to pfd 400
Chili Cop 8,300
Chino 700
C M & St P... 1.4O0
do pfd 2.400
Coco Cola.... 3.000
C & 0 600
Colo F I
Colo Southern 100
Col Gas & Ei. 1.800
Colum Graph. 12.300
Con Oas 200
Cons Cigars
do pfd
Contl Can
Cities Sv Bk
Corn Prod.... 9,800
do pfd
Cosden Oil.... 5.800
C R I P 2.0OO
do "A" pfd. 200
do "B" pfd. 200
Crucible S.700
do pfd
Cuba Cane.... 1.3O0
do pfd OOO
Cub Amn Sug. 900
Del & Hudson 400 100 108 108
Dome Mines.. UlM) 21 21 21
Del A Lack... 500 114 113 113
Davison Chem 8.800 61 51 61
Endl Johnson. 4.000 79 78 79
Krie 4.600 9 8 9
do 1st pfd.. 1.300 13 13 13
do 2d pfd.. 300 9 8 8
Famous Play. 10,500 79 78 78
Fed Min & Sm 100 10 10 10
do pfd 400 38 88 87
Flsk Tire 300 12 12 11
Gaston Wms.. 700 8
Gen Cigars... 2.100 71 69 71
Gen Elec 7O0 140 138 138
Oon Motors... 8,900 9 8 8
Glen Alden 42
Gen Asphalt.. 13.600 68 56 67
Goodrich 85
Goodyear 10
Granby . . 4 26
Great Nor Ore 600 81 81 31
Great Nor pfd. 1,900 73 72 72
Greene Cana.. 100 26 26 25
Gulf S Steel... 900 47 47 47
Mask Barker. 500 80 80 80
Houston Oil).. 2.400 74 73 73
Hupp Motor.. 3.700 12 11 12
Illinois Cent.. 200 98 P8 ox
Inspiration ... 600 40 89 39
Int Ag Cor cm 72
do pfd S3
Interboro .... 800 Hi 114 l'i
do pfd.; 8
Inter Callahan 800 6 5 6
Int Harv 81
Int -Mer Mar.. 600 14 14 14
do pfd 6.400 68 66 60
Int Nickel.... 1.900 12 11 11
Int Paper 5.000 49 47 47
Invincible Oil. . 6,500 15 14 15
Island Oil 13,400 2 2 2
Jewel Tea 600 11 11 11
K C Southern. I 800 .22 22 22
K C Sou pfd.. .'. 52
Kelly-Spgfld . 1.400 36 35 86
K.mnecott ... 3.000 26 26 26
KevKtone Tire 2,100 17 17 17
Lack Steel ... 2oO 45 45 45
Lee Tire 1O0 27 27 27
Lehigh Valley 9.800 0 59 59
Lorlllard .... loo l.VT 150 150
Lowe Thea. .. 200 13 12 13
I, & N 100
Mackay 73
Maryland OII. 700 26 25 25
May Iept Sto 9iM) 106 103 104
Mex Pet 15.700 110 108 108
Miami 400 27 27 26
Mid States Oil 6.600 12 11 11
Midvale Steel S.500 29 29 29
M K & T Wi. 6.0O0 8 7 7
do pfd I.OOO 25 23 25
Mont Power l.HOO 68 67 67
Mont Ward .. 1,400 13 12 12
Mo Pac 500 17 16 17
do pfd 5oo ' 45 44 44
M St P SSM 400 64 63 63
Nor Amn 1,200 48 47 48
Nat Biscuit 125
Nat Enamel . I.OOO 83 82 33
Nat Lead 100 85 85 85
Nevada Con . 500 15 14 14
New Haven . 2.300 13 13 13
Norfolk & W. 2.600 97 97 97
Nor Pac 2.500 75 75 75
N Scotia Steel..... 23
N Y Air Brke 57
N Y Central.. 1,000 74 73 74
Okla Prod ref loo 2 2 2
Onlarfo Silver 4
Ontario & W. 200 20 20 20
Otis Steel 9
Pacific Uev ' 7
Pac G A Elec 400 64 64 63
Punta Allegre 80 83 83 33
Pacific Oil .. 5.000 45 45 45
Pan Amn Pet 1.700 50 60 50
do "B" ... I.OOO 45 44 44
Penna 1.70O 33 83 33
Peo Oas 80O 61 61 61
Pere Marquet. 800 20 19 19
Pure Oil 400 ' 35 35 35
Phillips Pete. 400 29 29 29
Pierce Arrow. 400 14 14 13
Pierce Oil ... 3.700 11 10 11
Pitts Coal ... 9110 63. 63 62
Pltrs W Va 200 24 24 H '24
. do pfd 76
Pr Steel Car. . r 63
Pullman 200 log 107 107
14
74
26
27
51
S3
7
61
95
175
63
8
88
20
85
86'
70
18
94
21
37
81
97
9
44
25
24
3
10
19
127
70
7
12.1
9
68
62
3'
52
99
34
S3
116
62
27
67
80
6
6
20
13
7.1
15
61
91
49
8
86
5
27
20
138
43
6
8
BONDS.
101'M Y C deb 6s.".
ini!Nor Tac 4
104! Nor Pac 3s...
U S 5 reg.
IT S 2s cou.
99
86
61
94
94
89
90
100
IT S 4a reg
TT fa cv 4s cou. .
Pan 3s reg...
Pan 3s cou . . .
Am T A T cv 6s
Atch gen 4s. . .
104 i Pac T & T 5e. .
80 Pen eon 4s..
80 I Sou Pac cv 5a.
11ornion Pac 4s..
8IU S Steel 5s...
1 70
D A R 1 con. 4
Bid.
Liberty Bond Quotations.
Liberty bond and victory bond quota
tions at New York as furnished hy Over
beck A Cooke company of Portland:
Open. High. I,ow. Close.
Liberty 3s.. 97.80 97.90 97.00 97.72
do 1st 4s 97.80
do 2d 4s : 97.76
do l-t 4s. 97.84 98 00 97.82 97.90
do 2d 4s. 97.84 9S.O0 97.74 97.90
do 3d 4 Us. 97.SO 98.10 97.72 98 04
do 4th 4s 97.84 98.06 97.82 98.06
Vlctorv 4s.. 100.18 IOO.30 1 00.18 1 00.24
do 8s 100.16 100.24 lOO.ld 100.24
Ronton Mining Storks.
BOSTON, Jan. 12. Closing quotations:
Allouejs 22 (Old Dominion ..24
Arii Com 8IOsceola 32
Cal A Hecla...2R !Quincy 43
Ctopper Range.. 39!Superior 2
East Butte.... 10ISup & Boston. ..99
Franklin ...... 174:Shannon 1
Isle Royalle... 23IUtah Con 1
Lake Copper... 2Winona 35
Mohawk 64 Wolverino 10
North Butte . . .12
Swift & Co. Stocks.
Closing prices for Swift A Co. stocks at
Chicago were reported by the Overheck &
Cooke company of Porwand as follows:
Swift A Co 97
Libby, McNeil A Llbby 6
National Leather 2
wift International 21
Money, Silver, Etc. ,
NEW YORK, Jan. 12. CaUmoney
steady; high, 3 per cent; low, 8; rul
ing rate, 3't : closing bid, 3; offered at 3;
last loan, 3.
Time loans easy; 60 days, 4 per cent;
90 days. 4; 6 months, 4.
Prime mercantile paper, 4 $5 per cent.
Foreign bar silver. 00c.
Mexican dollars, 60c.
' LONDON, Jan. 12. Bar silver, 35d per
ounce. Money, 3 per cent; discount rates
short bills, 8 Per cent; three months'
bills, 3.
RESERVE BATIO INCREASES IN WEEK
Gain of Three and Six-tenths Per Cent
Reported by Board.
WASHINGTON. D. C, Jan. 12. Com
bined reoources and liabilities of the 12
federal reserve banks at the close of busi
ness January II, 1922. were reported to
night by the federal reserve board as
follows:
RESOURCES.
Gold and gold certificates....! 882.138.000
Gold settlement fund, federal
reserve board 502,010.000
Total gold held by banks... 8S4.14S.O00
Gold with federal reserve
agents 1.910.561,000
Gold redemption fund loo.sso.oou
Total gold reserves 2,890,148 o0
Legal tender notes, silver, etc. 10.705,000
Total reserves 3.041,294,000
Bills discounted:
Secured by irnited States gov
ernment obligations 427.476.000
All other Crto.ulS.OoO
Bills bought in open market. v 86,704. OoO
Total-bills on hand 1,074, 24.OoO
TJ. S. bondB and notes 52.100,000
U. S. certificates of Indebted
ness: One year certificates (Plitman
act) 113.000,000
All other 54.O4O.oO0
Municipal warrants 385, OOO
Total earning assets ..... 1,203. 823, (HM)
Bank premises 30,019,000
Five per cent redemption fund
against federal reserve bank
notes 7.939.O00
Uncollected items 548,4:10.0(8)
All other resources 12,811.000
Total resources 4,939.322,000
LIABILITIES,
Capital paid in $ 103.204.000
Surplus 210,3t,OOO
Reserved for government fran
chise tax 853,000
Deposits:
Government , 15,289.000
Member bank reserve account l,73.V5O3.O0
All other 26,000.000
Total deposits 1.776,O7.0O0
Federal reserve notes In actual
circulation 2,293,799,000
Federal reserve bank notes in
circulation, net liability... S3.977.0O0
Deferred availability Items. . 440.455. ism
All other liabilities 15.72II.0U0
Total liabilities .".$4. 939. 322,000
Ratio of total reserves to deposit and
federal reserve note liabilities combined,
74.7 per cent.
Ratio of gold reserves to federal reserve
notes In circulation after setting aside 35
per cent against deposit liabilities, 100.6
per cent.
i New York Bonds.
New York bond quotations furnished by
Herrln A Rhod.ce;, Inc., of Boston:
Am Tel A Tel 6s 1022 100
Am Tel & Tel os 1024 lol
Am Tob 7s 1923 102
Anaconda 7s B 1920 102
Anaconda 6s A 1929 98
Armour cv 7s 1HSO 102
Armour 4 1939 87
Argentine GI 5s 1943 77
Am Ag Ohm 7s .'. 1941 101
Beth Steel 7s 1922 99
Beth Steel 7s 1923 101
Beth Steel Eq 7s 1935 101
Belgium Ext 7s 194-5 105
Belgium 6s 1925 95
Belgium 8s 1940 1 05
Bergen 8s, City of. 1945 107
Berne 8s. City of 194.5 107
Brasil 8s 1941 104
Canadian 5s 1926 96
Canadian Os 1031 95
Can Nat Eq 7s 1935 106
Ohl N W 6a 1936 107
Chi N W 7s 130 106
C. M A St P ga and rf 4fes A..2014 67.
Can Nat 7s 1940 109
Chile 8s 1941 101
Christianla 8s. City of 1943 106
Copper Exp 8 1922 loo
Copper Exp 8s 1923 101
Copper Exp 8s 1924 103
Copper Exp 8s 1923 104
Cuban Amer Sugar 8s 1931 102
Con Gas cv 7s 1925 1 04
Diamond Match 7s 1935 110
Denmark 80 A 1943 108
Danish Mun 8s 1945 106
Dupont 7s 1931 104
French ext 8s 1943 100
French 7s 1941 95
Grand Trunk 7s 1940 108
Goodrich 7s 1925 97
Goodyear 8s '41 112
Gulf 7s 1033 103
Great Northern 7s 1936 108
Hun.hle Oil 7 1923 1 01
Int Rap Tr ref 5s 196 57
Int Mar CT s ..1941 91
Int Rap Tr 7s 1...1921 78
Kelly-Springfield 8s 1931 103
Kenneoott 7s 1930 IOS
Libby. McNeil A Libby 7s 1931 99
Morris A Co 7s 1930 102
Mexican ePte 8 1936 1M
NYC call 7s 1930 1
Norway 8s 1940 109
N P A G N Joint 6s 1936 108
N P 6s .- -M' 1ok
Northwest Tei 7s 1941 107
Ray Cons .... 500 15 14
Reading 17,200 74 73
Remington .. 800 27 25
Replogle Steel loo 27 27
Repub I & S. SvO 62 61
do pfd
Rep Motors
Ry Dutch Oil 2.1O0 51 M
Ry Steel Spg. 200 96 95
Stand Oil N J 2O0 175 175
Sears Roebuck 6.800 64 63
Shattuck Aril 2.0U0 8 8
Shell TAT.. 200 3 ' 38
Sinclair . 8,400 20 19
Stand OH Ind 2.000 85 83
Sloss Shef -
So Pac 6.400 70 79
So Ry 2,800 IS 17
Stand Oil Cal 9O0 95 94
St L A S F.. 400 -21 21
Strom Carb . 300 38 37
Studebaker .. 11.100 8Ji 81
Swift & Co 97 97
Tenn Cop A C 2.00O 10 9
Texas Oil ... 12,500- 45 44
Tex Pac 2.000 25 25
Tex Pac CAC 900 24 24
Tob Prod 1,500- ev: ;
Tran Con Oil. 1.000 1 0 9
Vnion Oil Del 2.O11O 19 10
Union Pac .. 1,800 127 126
7'nited Allov
United Drug.. 20O 71 71
Vn Food Prod 2 900 7 7
United Fruit.. 1,0"0 123 122
11 Rds of N J 400 8
Union BAP. loo 68 68
L'n Ret Stores 4.20O 52 52
U S Ind Alco. 6,000 40 ."0
U S Hub 700 53 52
do 1st pfd.. 200 99
IT S Smelt
U S Steel.... 4.800 83 S3
do pfd .... l.ioo 116 116
Utah Cop ... 2,100 64 63
Va Chem
do lfd IOO 70 .70
Vanad Steel . 1,000 31 30
Vivandou ...
Wabash 600 6 6
do A pfd .. 700 20 20
do B pfd
Wells Fargo.. 9O0 73 N "2
West Psc 200 15 13
do pfd
West Union . . 500 91 PI
W'hse E A M 600 60 50
West Md
White Motors. IOO 87 87
Willys-Over .. 300 5 5
do pfd
Wilson Pack.. 40 29 27
Woolworth .. 100 1.19 139
Worth Pump
W A L E BOO 6 6
White Oil ... 4.600 - 9 8
iiS
Pan Amer 7s 1930 96
Penns 6 1936 106
San Paulo 8s 1936 100
Southwest Tel 7s 1923 ,lr2
Swedish govt 6s 1939 95
Standard Oil N Y 7a 1931 110
Standard Oil of Cal 7s 1931 101
Stee4 A Tube as 1951 97
Swiss 8s ...1940 114
Sears Roe 7s ......... 1922 99
Sears Roe 7s 1923 97
Sinclair 7s 1925 IOO
Swift A Co 7s 1925 100
Union Tank 7s 1930 103
U S Rubber 7S 1930 196
Wilson first 6a ...1928 86
West Elec 7s 192VS KH
Westinghouse 7s 1931 106
Zurich 8s 1940 1U7
Foreign Bonds.
Foreign bond quotations furnished by
Over beck A Cooke company of Portland :
Bid. Ask.
Belgin rest 5s. .v 65
Blgiu prem 5s ......... 75
Belgian 7s. 1940 105
Belgian 8s, 1941 104
Belgian 6s, 1920 94
Brazil 8s, 1941 lo.t
68
78
105
105
94
104
88
ss
69
64
s:i
96
90
97
."
94 14
101
108
1IM1
51
British os, 1922
British 5s, 1927
British r. 1929 ,
British vky 4s. ,
British ref 4
Bordeaux 6s .,
Canadian Os, 1937....,
Canadian 3s, 1926.
Canadian 5s. 1929...
Canadian 5s. 1931....
Canadian 51-ff. 1927..,
Chilean 83, 1941 ,
Currency ,
Denmark 8s. 1915....,
Dan Mun 8s. 1940..,.,
French 4s. 1917
French fts, 1920
French 5s. 1931 ....... ,
French 7s. 1941....,
French 8s. 1945 ,
tJerman W L 6s. ......
Berlin 4t
Hamburg 4s. .........
Hamburg 4s.
IiDig 4s ,
Lelpsig 6f. ........... ,
Munich 4s............
Munich f-s. .... ...... ,
Frankfort 4s.
Italian 5s. 1918 ,
Jap 4, 193 1
Jap 1st 4 -.s, 1925
Jap 2d 41,9. 1925 ,
Norwav ha. 1940.....
XllHsiiui 5'-s, 1921....
Russian f s, 1926...
Russian 6s. 1919....
Swiss 3fl. 1929......
Swiss 8s, 1940
IJ K 5is, 1922
If K !ia, 1929
U K OHs. 1937
86
.. . 86
... 8.1
...67
...63
. .. 83
. . . 94
...96
... 97
... 5
...92
...lot
. . . 15
. . . 1 07
.. .10:,
. . . 50
. .. 73
.. . 64
... 94
...100
... 4
... 4
... 6
. .. 5 -...
5
. . . 6
. . . 6
... 6
... 6
... 32
... 73
... 87
. . . 86
...108
... 18
. .. 4
96
...114
. ..10
. .. 99
... 97
95
100
5
6
6
A
t)
7
8
7
3::
73
87
86
lot)
IO
96
115
100
99
97
Foreign Exchange.
Foreign exchange rates at the close of
business yesterday, furnished by North
western National bank of Portland. Tho
amount quoted is the equivalent of the
foreign unit In United Slates funds:
Austria, kronen
Belgium, francs
Bulgaria, leva
Czecho-Slnvakia. kronen ..........
Denmark,' kroner
Kngland, pound sterling
Finland, finmark
France, francs
Germany, marks
Greece, drachmas
Holland, guilders
Hungary, kronen
Italy, lire
.lugo-Slavia. kronen
Norway, kroner
Portugal, escudos
Rotimanta, lei
Serbia, dlnara
Spain, pesetas
Sweden, kroner
Switzerland, francs
China. Hongkong,-4oeal currency..
Shanghai, taels
Japan, yen
, .0006
.OMI4
.llllS))
.0107
,20'xl
421.11
.0200
,os:i3
.0057
.04 1 5
..".itsS
.0022
.04 10
.0010
.1575
.os:ifl
.0000
.0162
.1505
.2500
. 1 950
.4800
NEW YORK, Jan. 12. Foreign exchange
Irregular; Great Britain, demand 4.22,
cables 4.22: France, demand 8.14,
cables 8:15; Italy, demand 4.32, cables
4.33; Belgium, demand 7.79. cables 7.80;
Germany, demand 33, cables 53; Hol
land, demand 36.S0. cables 36 SH; Norway,
demand 10.70; Sweden, demand 24.95; Den
mark, demand 20.00; Switzerland, demand
19.40; Spain, demand 14.96; Greece, de
mand 4.30; Argentina. demand 33.62;
Brazil, demand 12.70; Montreal, 95.
Standard
on stocks.
Standard Oil Stoc
ks at New York, fur-
nished by Overbeck
Portland:
& Cooke company of
Bid. Asked.
. 16 17
.325 350
. 85 87
.ISO 1 90
. 1 05 1 1 0
.123 128
. 27 29
.120 130
. 79 81
. 39 41
.104 107
.Ion lo.'t
.163 106
. 83 85
. 28 29
.140 144
. 90 95
.256 209
. 14 14
. 10 18
.510 520
224 228
.330 350
. 75 77
.170 18(1
. 50 54
. 84 85
.50O 670
.435 445
.342 34,5
.380 390
.114 115
. 30 40
.298 3o3
. 30 35
. 1 60 170
.102 104
Anglo
Borne Scrysmer . .
Buckey
Cheesebrough ....
. do pfd
Continental
Crescent
Cumberland,
Eureka
Galena com
do Old pfd
do New pfd....
Illinois Pipe
Indiana Pipe
National Transit .
N. Y. Transit ....
Northern Pipe
Ohio Oil
International Fete
Penn Mex
Prairie Oil
Prarle Pipe
Solar Refg
Southern Pipe ....
South Penn Oil ...
S. W. Penn Oil ...
S. O. Indiana
do Kansas
do Kentucky ...
do N. Y
do Ohio
do Ohio pfd ..
Swan A Finch ....
Vacuum
Washington
do Nebraska ...
Imperial Oil
QUOTATIONS OX DAIRY PRODUCE
Current IMces Ruling on Butter, Cheese
and Eggs.
SAN FRANCISCO, Jan. 12. Butter, ex
tra. 35c: prime firsts. 34c.
Eggs Extras, 32c; extras, pullets, 28c;
undersized. No. 1, 27 He. f
Cheese California flat fancy, 24c; Cali
fornia Young Americas, fancy, 26c.
NEW YORK, Jan. 12. Butter Firm.
Creamery higher than extras. 35ig36c;
creamery extras. 85c; firsts, 31ft34c.
Eggs Steady. Fresh gathered extra
firsts, 3SSS9c; firsts, 3537c.
Cheese Steady.
CHICAGO, Jan. 12. Butter Higher.
Creamery extras. 32c: firsts, 26 & 31c; sec
onds, 23tfi'25c; standards, 30c.
Eggs Higher. Receipts, 5124 cases:
firsts. 35c; ordinary firsts, 28 30c; mis
cellaneous, 32 if 31c.
SEATTLE. Jan. 12. Eggs Select local
ranch, white shells, 3032c; select local
ranch, mixed colors, 30c; pullets, 25&28c.
Butter City creamery cutoes, 83c; bricks
or prints, 34c
Nrvr York Sugar Market.
NEW YORK, Jan. 12. Raw sugar, cen
trifugal, 3.54c; refined granulated, 4.80
4.90c.
Dried Fruit at New York.
NEW YORK. Jan. 12. Evaporated
apples firm: prunes steady; apricots and
Hay Sells for $8.
EOARDMAN, Or., Jan. 12. (Spe
cial.) Several of the farmers In this
section are disposing of their hay to
sheepmen at 18 a ton in the stack.
About 10,000 head of sheep are being
taken care of. Considering; the de
velopment of feeding- operations and
the introduction, of dairy cattle an
other year should see fairly good
conditions. There is a steady de
mand for No. 1 hay for shipment and
a fair demand for No. 2. The balance
can be fed on the ranches, insuring
improved soil conditions.
Irrigation Director Elected.
BOARDilAN, Or., Jan. 12. (Spe
cial.) An election was held yester
day to secure one director to serve
three years on the West Umatilla
extension irrigation board. C. K.
Glasgow, the present incumbent, was
re-elected.
Cascara Bark '
Hides, Wool. Pelts. Mohair.
We Jtre in the Market.
Write for Prices and Shipping Tags,
PORTLAND HIDE WOOL CO.,
GEORGE M SULLIVAN. Manager.
107 union Ave. a., romaaa, or.
ALFALFA HAY
Bay Direct. Save Money.
Write or Wire for Price.
ERKEST T. FRF.EPONS.
Walla Walls, Washington.
WHEAT AVERAGES HIGHER
ItUSSIAV
HAVE
RELIEF
BULLISH
DEALINGS
EFFECT.
Further Improvement Noticed in
Domestic Milling Demand; Ex
port Trade Is Small.
CHICAGO. Jan. 12. Wheat averaged a
little higher in price today, chiefly owing
to removal of hedges against sales of
1.300.000 bushels of seed wheat taken for
shipment to Russia. The market closed
unsettled, varying from c net decline to
c advance, with May $1.11 to $1.11
and July 99 c to 9c. Corn finished a
shade to c higher, oats unchanged to a
shade off. and provisions at gains of 7c
to OOc.
In aHdltlorTto the bullish effect of Rus
sian relief dealings, the wheat market
was given at times a slight further stim
ulus by Indications of improvement in do
mestic miUlng demand. Firmness in the
Liverpool market tended somewhat also
to help the bull side. On the other hand,
general export inquiry was 'slow as a re
sult apparently of Argentine competition.
Besides, the general market effect of the
fall of the French cabinet was depressing,
although May delivery scored the highest
prices of the season after tho news from
Paris had been circulated. t
Corn and oats were upheld largely by
the influence of purchases made for Ros
sis n relief.
Higher quotations on hogs appeared to
be responsible for the advance in the pro
vision market.
The Chicago grain letter received yes
terday by the Overbeck & Cooke company
of Portland follows:
"Wheat It was en errstlo market, mors
than ordinarily susceptible to conflicting
news items. The strength during the fore
noon was based on advancing premiums
for cash wheat in the northwest, together
with advices from the seaboard that some
export business was being done in Amer
ican Guir w.heat. Late in the day these
factors were offset by numerous cables
telling of cheaper offerings from the Ar
gentina, with little demand for the Amer
ican varieties aside frotn the purchaser by
the Russian relief commission for seed
purposes.- The I'nited States sold the hulk
of her exportable surplus and our markets
are now on a .firm foundation from a do
mestic standpoint. There will undoubtedly
be further foreign buying hro after the
inltlalMnovement of competitive wheat is
out of the way and a very tight situation
will then develop.
"Corn Aggreshive buying of corn fu
tures around the opening was credited to
cash interests against shIcs made for ex
port through RUf.nian relief. Prices eased
tiff toward the close In sympathy with
w heat, but there was no special weakness
asparent. Receipt showed a moderate
increase, but offerings were well takerj at
a firm basis. Another bullish incentive is
the advancing tendency of hog prices,
which makes corn at present levels a very
lucrative feeding proposition.
"Oats Maintained Independent strength
and responded readily to the advance In
wheat. The cash market was again firm
as to prices and basis. Country offerings
to arrive moderate. The tremendous visible
supply which has been a burden to this
market for so long will soon be lost sight
of. coincident with any broadening of the
shipping demand.
Leading features ranged as follows:
WHEAT.
Open. High. Low. Close.
May .. t 1.11 $ 1 12 I 1.10 $ 1.11
July .. 1.00 1.00 .00 .09
CORN.
May .. .53 .53 .63 .53
July .. .55 .55 .04, .54
OATS.
Mav .. .38 .38 .38 .38
July .. .39 .39 .39 .39
MESS PORK.
Jan 1 on
May 1630
LARD,
March 0 15 9.17 9.12 9 12
Hay .. 8.42 9.50 , 9.42 9.45
SHORT RIBS.
Jan. .. 8 45 8 43 8 35 8 35
May .. 8 40 8 65 8 40 8.40
lash prices were ss follows:
Whest No sales reported.
Corn No. 2 mixed, 4949c; No. 2 yel
low. 4949c.
Oats No. 2 white, 8738c; No. 3
white. 34&35c.
Rye, No. 2. 78 c.
Barley 53 t 55c.
Timothy seed $3 tf? 6 25
Clover peed $12.5018.50.
Pork Nominal.
I.ard-f9.12.
Ribs ti.87S.8T. x
Primary Receipts.
CHICAGO, Jan. 12. Primary receipts
Wheat, 473,000 bushels against 1,102,000
bushels; corn, 1.820,000 bushels against
1.221.000 bushels; oats, 496,000 bushels
against 475,000 bushels. t
Shipments Wheat. 517.000 bushels
against 636.000 bushels; corn, 1,797.000
bushels against 619, ooo bushels; oats, 4tM,
0tH bushels against 394,000 bushels.
Clearances Wheat, 689.000 bushels;
corn. '706. 000 bushels; oats, 32.000 bushels;
flour, 57,000 barrels. Wheat Included 60U,
000 bushels wheat in bond.
Car lots Kansas City 70 wheat. 40
corn, 4 oats. Minneapolis 165 wheat, 64
corn, 36 oats, 6 rye, 11 barley. Winnipeg,
431 wheat, 80 oats Duluth, 32 wheat, 11
corn, 13 oats, 32 rye.
New York Grain Market.
NEW YORK, Jar. 12. Wheat, spot
steady; No. 2. red, $1.21; No. 2 hard, $1.20;
No. 1 Manitoba. $1.27 and No. 2 mixed
Durum, $L09, c. I. f. track New York to
arrive.
Corn, spot, steady; No. 2 yellow, 66c;
No. 2 white, 67c, and No. 2 mixed, 66c,
c. 1. f. New York all rail.
Oats, spot steady; No. 2 white, 4747c
Other articles unchanged.
Minneapolis Grain Market.
MINNEAPOLIS, Jan. 12. Cash wheat
No. 1 northern, $1.26 1.30 ; No. 2.
$1.22 1.25 ; No. 3. 1. 1 4 Jf 1.20 ; No.
1 dark northern. $1.28 i 1.33 ; No. 2.
$1.25 1 30; No. 3. $1.16 'oil. 25 ; No.
1 dark hard. Montana. $ 1.26 1.29 ;
No. 1 hard Montana, $1.21 & 1.24.
Barlev Ilr54c.
Flax No. 1. $2.04J2.10.
Futures Wheat, May, $1.18; July,
$1.12.
Winnipeg Grain Market.
WIVNIPrXJ, Jan. 12. Cash wheat. No.
1 northern, $1.12: No. 2. $1.07; No. 4,
97c; No. 6, 71c; track. $1.10; oats. No. 2,
42 c; barley. No. 3, 55 c; feed, 42 c.
Futures Wheat: May. $1.08; July,
$1.06.
Grain at San Francisco.
SAN FRANCISCO. Jan. 12. Grain
Wheat, milling, $1.8561.95; feed. $1.85
1.95: barley feed, $1.20W1.3o; shipping.
$1.30140; oats. red feed. $ 1.400 1.60 ;
corn, white Egyptian. $1.72 & 1.77 ; red
milo, $1.42 ji 1.40.
Hav Wheat. 171919: fslr. $14017;
DIGEST
of the I
Revenue Act
of 1921
A carefully prepared 1
analysis of the pro
visions of the law
with useful tables for
computing taxes.
Free on request for OR437
The National City
Company
Offices in more than 50 cities,
Y'eon IlldK., Portland, Or.
Telephone Main 4MI72
WANTED
Portland Hjr., I.t. Power Co.
K iold Notes.
S 354, OHfcUO.MAN.
tame ost. $15ffl8; wild oat. $11913; al
falfa, $1316; stock. $9yi2; straw, $10
toli
Seattle Grain Market.
SEATTLE, Jan. 12. Wheat, hard white,
soft while, white club, soft red winter,
$1 Og; red winter, northern spring. $109:
eastern red Walla, $1.06; big bend blue
stem, $1.14.
City dellverv: Hay. timothy, $23: D. C.
$27; mlsed, $21: slfa;fa. $17; l. C. $23;
straw. $15; barley, whole. $5.1; ground
and rolled, $35; clipped. $40; chick starter,
$'4: rhop ail grnn. tV rn.in n nt mewl.
CrARK KENDALL & CO, fisc
CCraNMEKI MUNiaPALANDCORPORArCN BONDS
&Q2r!
FIFTH AND SIARK STRUTS - PORTLAND
NEW ISSUE
$300,000
Sherman County, Or.1
Road Bonds
FINANCIAL STATEMENT
Assessed Valuation, 1921 $17,181,226.63
Actual Value, estimated 35,000,000.00
Total Bonded Debt, this issue only. GOO, 000.00
Ratio of debt to assessed valuation less than 1.
Population, 1920 census, 3826
EXEMPT FROM FEDERAL INCOME TAXES
Sherman County is famous as one of the leading wheat
producing sections in Oregon. It ranks second among
Oregon counties in the production of w inter wheat, third
in the total production of wheat and fifth in area of de
veloped agricultural lands. It ranks first in proportion
of cultivated acreage to total area. The county is served
by the 0.-W. li. & N. Co.
LEGALITY
Legality Approved by Messrs. Teal, Minor &. Winfree.
These bonds having all been sold, this advertise
ment appears as a matter of record only.
m.
gBlffiSiSswjjl s
New Issue
$300,000
Lane County, Oregon
' 5 Road Bonds
Dated May 1, 1919 Due Serially, 1931-13
Exempt From the Federal Income Tax
Legal for Savings Banks in Oregon, Washington and
California. Applicable as Security for Postal
Savings Deposits.
Financial Statement
Assessed valuation, 1920 $31,873,272.97
Total bonded debt (including this issue) . . 550,000.00
Population, 1920 census, 36,166.
LANE COUNTY ranks fourth in wealth and population
among Oregon counties. It contains the largest stand
of timber in the state and ranks second to Multnomah
County in railroad mileage. Within the county are the
cities of Eugene, Cottage Grove, Springfield, Coburg,
Creswell and Florence.
Priced to Yield 4 to 5
Blyth, Witter. & Co,
Fourth and Stark Streets Broadway 6181
Seattle S Francisco I-os Annflra -New York
or S
Send for descriptive circular
Atkinson, Starkey & Zilka, Inc.
, i:vkstmkxt nosns
41S Xorthwestern National Hank Iliill.linB. rortlnml, OrcBn Mala TOO
Established J 901
George Black & Company
PUBLIC ACCOUNTANTS AND AUDITORS
Worcester Buildinjr
Telephone Broadway 7370
PORTLAND, OREGON
GEORGE BLACK, C. P. A.
Fallow of the American
Institute of Accountants
HARVEY N. BLACK
HERRIN & RHODES, lac.
FtubMrhel
STOCKS, BONDS,
COTTON, GRAIN
Corrnrondtnts HI. F. HUTTON & CO, N. T.
Mmb-r nil leading Hchanul
Babaon' Service on File.
Haln tu Xul UmUwmy fc.i'hige Bids;
$28; corn, $53934: corn, rracked and feed
meal. $57; cottonseed meal. $44; linseed
meal. $08; mash (mixture, egg, 14011 I".
scratch food, $ M4i 40; soy bean, $60;
whest, $44; Puset sound. $59.
Coffee Futures Iwer.
NEW TOHK. Jan. 12. The market fur
coffee futures closed at a net decline of
3 to 6 points. Sales were estlmared at
about 2fl.NM) bngs. January. 8 47c; March.
.8 57c; May, S42e; July and September,
8 33; October. 8.32c; fo-oember. 8 30c.
Spot coffee ass unchanged at 9e to 90
for tt'O 7 t'.'e to l-J'- e for Km'n, 4s
OREGON
lliLl'TIMILHrJ
Income Tax Exempt
o CITY of SEATTLE
Improvement Bonds Due 1923-1930
General Praetlre
InveMttKfMtonM
Ftnte Work
Special and I'erloilical Audita
Tarn. M'rilce
WeBuyP.R.L.&P.
8 Gold Notes
UNION S. D. & TRUST CO.
U!vl Oak St.