Morning Oregonian. (Portland, Or.) 1861-1937, February 28, 1922, Image 21

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Morning Oregonian., February 28, 1922, Page 21, Image 21

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Newspaper Page Textr r 21 TOE MORNING OREGONUX, TUESDAY, FEBRUARY 28, 1023 DUTCH BDNDJ5SUE SOLD NEW GOVERNMENT OFFERING IS SUCCESS. French, Chinese and Japanese Loans at Higher Prices Do mestic List Also Gains. NEW YORK, Feb. 27. The successful ale of the new Dutch government, 75,000,-000-guiliir offering lu 'this market today was the foremost feature of another active, strong and diversified demand for bonds. French government 7tes and fcs led the European list and Chinese railway 5s made the greatest gain of any Issue, rising 4 points Japanese government bonds and several o the municipal bonds were strong. In the domestic groups, rails of ths speculative type were in further demand. but fractional to 1-point gains In that group were slightly shaded by the reversal In the stock market. Buying of libertj bonds expanded, although several of those Issuee closed at slight losses. Local trac tions, notably Brooklyn Transit 7s, regis tered substantial gains. Total sales, par value, aggregated J19.273.000. Foreign developments over the week-end were accelerating factors In the greater strength and activity shown by the stock market during the first half of today's session, leaders making extreme gains of 1 to 4 points. Practically all of the Advance was lost in the final hour, however, when selling of steels, equipments, oils, tobaccos and chemicals caused a heavy close at extreme reversals of 1 to 5 points from maximum Quotations. Transactions again were broad, aggre eating 1.000,000 shares. The outcome of the meeting between the British and French premiers, which in turn imparted buoyancy to, leading Euro pean currencies, resulted in the further retirement of the shorts during the forenoon-Domestic advices also offered ground for encouragement, importance being attached by bankers to the senate committee's fav orable report on the treaties adopted by the arms conference. Railroad tonnage at principal terminals continued to gain on the more expansive movement of foodstuffs to distributing centers, but western investors showed a disposition to await the result of the bonus legislation at "Washington before assuming new commitments. Rails were the mainstay of the market, yielding oniy moderately when such issues as Baldwin and American Locomotives and independent steels, Studebaker, Mexican Petroleum, California Petroleum, Tobacco Products, Retail Stores and Davison Chem ical were under fire at net losses of 1 tft 4 points. The money market was not especially responsive to last week's better clearing house statement, opening at 5 per cent for call loans and yielding very gradually to 4',s per cent. Short time loans were unchanged at 4 per cent, and few longer maturities were reported. I On the better Anglo-French situation, sterling remittances rose 2 cents and other allied currencies were from 10 to almost 2i points better. The German rate was not benefited by the Boulogue conference, showing marked heaviness, but Dutch end Scandinavian rates again strengthened and the discount on Canadian exchange fell bolow 2 cents. CLOSING STOCK QUOTATIONS. 3oo 200 1,700 400 700 1.500 0,700 200 ' lioo 4,300 High. 14 35 58 Vi 13 14 57 4014 1)1 4114 400 13014 149 Furnished by Overbeck pany of Portland: Sains. Advance Rum. do pfd Agr Chpm. . . . do pfd Ajab Kuhber.. Alaska tlold. . Alaska Juneau Allied chem.. Ailis-Chalmers. do pfd Am Beet Sug.. Am Bosch A m Can Co , . . do pfd Am Car & Fdy do pfd Am Cot Oil... do pfd Am Drug Kynd Am Hide & L. do pfd Am Ice ...... Alu lull Corp. Am Linseed. . . do pfd Am Loco do pfd Am Faf Razor. Am Ship & C. Am yjneUwv.,i.0i no pro Am Krtuff Am Steel Fdy. Am HuKar do pfd ..... Am Sumatra. . Am Tel & Tel. Am Tobacco. .. do "B" Am Wool do pfd Am w p pfd.. Am .cine Anaconda .... 7,300 4!i Ass'd Oil...... 900 10414 Atchison 2,900 97 Vi do pfd 400 8314 At Coa-st Lino. 3(io M) At Gulf & W I 8.800 27V. .Baldwin Loco. 9,500 109 & Cooke com. Low. 1314 3H 3314 6814 14 07 14 45 91 '38 54 40 1,400 200 4UII 1,400 4110 1,4110 6,:tlH) 1,300 700 8U0 V.300 ,700 9110 1. HCKI 5oil . 2. HII0 2,tlM 400 00 4,700 100 2314 49 5 1.1 "4 7'4 1(10 4314 32 83 '4 100 "414 11 32 37 98 2HV4 1197 13814 13H 80 10i 23 49 34 14 B0T4 118 43 32 31 107 "4" U 3154 14 9714 25 '4 11914 138 135 85 106 4814 103 9B14 8514 23 TA 10414 Bid. 13 14 3814 35 6814 14 5714 43 14 91 35 4014 100 14814 120 23 49 5 14 SB 14 97V4 43 32 2(i 107 114 4 31 4'i4 9 135 31 6014 S 26 14 11914 137 135 84 10514 . 13 4814 104 90 '4 8514 89 2414 104 Int Paper .... 1,400 49 48H 4S14 do pfd 80 Invincible OiL 17,800 16v4 15T4 15T4 Island Oil 9,200 1 1"4 l Jewel Tea ... 3.200 1814 171i 17'sj K C Southern. 8,400 27 2 28 do pfd 100 63 63 53 Kelly-Spgfld .. 2,00 404 39 314 Kennecott ... 7,900 28 27 Vi 27 '4 Keystone Tire. 1,000 16V4 15 15 Lack Steel 1,600 45 45 45 Lee Tire 200 28 28 27 Lehigh Val... 2,500 6114 (if 14 69 Lorillard 5W 152 151 130 Lowe Theaters 2,700 13 12 13 L & N 300 113 113 113 Marland Oil.. 8,000 28 27 28 Mart & Parry. 2,000 27 28 2i May Stores ... 2,400 111 109 111 Mex Pet 20.0(H) 124 120 120 Miami 1,800 27 2614 26 Mid States Oil 18,100 13 13 13 Mldv Steel ... 3,000 30 29 29 il K & T 10,100 11 11 11 do pfd 7,100 34 33 33 Mont Power... 10O 66 66 65 Mont Ward... 2,5(M 15 ' 14 14 Mo Pac 6,000 21 21 21 do pfd 4,500 62 61 61 M St P & SSJI 2,500 71 69 69 Nor Am 3,000 69 68 58 Nat Biscuit 130 Nat Enamel.. 2,400 34 83 33 Nat Lead .... 100 89 89 88 Nev Con 1,300 14 13 14 New Haven... 1.10O 18 17 17 Nor & West.. 1,700 101 101 100 Nor Pac 3,100 81 80 80 Nov Sco Steel. 100 24 24 24 N Y Air Brk. . 100 69 59 69 N i" Central.. 3,000 78 77 77 Ok Prod re.. 1.300 2 2 2 Ont Silver 5 Ont&West... 800 22 21 21 Otis Steel 48) 10 9 9 Pac Dev 1W 7 7 7 Pac O & E... . 300 66'4 66 66 Punta Allegre. 50O 38 37 37 Pacific Oil 2.51H) 50 48 48 Pan Am Pet.. 4.300 55 54 54 do B 1,100 50 49 49 Penn 3,400 35- 34 34 Peo Gas 6o0 75 75 74 Pere Marq 6,700 27 26 214 Pure Oil 2.10O . 35 3-514 35 tl Phillips Pete.. 1,000 33 32 32 Pierce Arrow. 600 17 16 16 Pierce Oil 2.300 8 8 8 Pitts Coal .... 400 61 60 60 Pitts & W Va. 1,900 26 16 25 do pfd 100 78 78 77 Pr Steel Car. . 1,600 68 66 65 Pullman 1.20O 118 115 113 Ray Con 1,300 14 13 13 Reading 16,700 76 74 74 Remington ... 200 31 31 31 Replo Steel... 100 29 29 20 Rep I & S 2,900 4 7 46'A 46 do pfd 600 7S 76 78 Rep Motors '3 Rjl Dutch Oil. 8,100 54 5314 63 Ry Steel Spg.. 500 97'i 9 6 96 Saxon Motors. 1,100 1 1 1 Sears Roebuck 6,200 70 63 68 Shattuck Ariz 7 Shell T & T... 500 43 42 4ii I Sinclair 40,600 2:i 22 224 .Stand Oil Ind. 5,000 88 87 87 Stand Oil N J. 200 170 179 176 Sloss Shef 200 38 38 AS Sou Pacific 86 85 85 Sou Ry 7.400 21 20 20 Stan Oil Co... 1,000 9 96 66 St L & S F 11,100 30 29 28 Stromberg Crb 4,100 44 41 , 42 Studebaker ...61,00 102 99 99 Swift & Co 107 Ten Cp & C. 1,000 10 10 10 Texas Oil 12,700 46 46 46 Texas Pac 13,400 33 31 31 Tex. Pac C & O.6.S00 28 27 27 Tob Products . 5000 62 58 5S Tran Con Oil. 4,900 10 9 9 Union Oil Del 3,000 18 18 18 Union Pac ... 8,000 1 35 134 134 United Alloy . 400 27 27 27 United Drug .. 700 67 66 66 Un Food Prod 1,800 3 3 3 United Fruit .. WM 141 140 138 Union B & P 200 65 65 64 U S C I Pipe 500 27 26 25 Utd Retl Sires 32,900 48 43 44 US In Alco.. 1,400 4ii 4414 44 U S Rub.-... 1,800 55 54 54 do 1st pfd.. 100 99 99 99 U S Smelting. 600 33 3.1 33 IT S Steel 34,600 94 . 92 82 do pfd ..... 700 116 116 110 Utah Copper . 5,700 63 61 61 Va Chem 500 311 32 32 do pfd 100 69 69 6 8 Vanadium Stl 3,800 37 35 35 Vivandou 300 7 7 7 Wabash 0O0 8 7 7 do A pfd .. 8,000 25 24 24 do B pfd .. 200 15 1514 35 Wells Farce 80 Western Pac. 2,100 18 18 17 do pfd 2O0 52 5a 52 Western Union 400 92 92 92 Wstghouse AB 99 do E & M.. 1,700 55 55 55 West Md 0 White Motors 400 39 '4 39 89 Willys-Ovid .. 1,100 5 5 5 do pfd 200 26 26 26 Wilson Pk? .. 6,600 41 40 40 Wis Central . 1,000 .10 28 28 Woolworth ... 500 149 148 148 Wthg Pump.. 7O0 46 46 4(1 W & L K 200 .7 7 7 White Oil 2,500 9 9 914 Colo Sou ref ex 4s. ...1935 Colo Sou 4s 1929 Del & Hudson cv is 1935 Dal & Hudson 7s 1930 r & R G vc 4s 1938 D & R G ref As 1955 Erie P L 4s 1996 Erie cou 4s A...... ......1953 Erie B 1953 Erie D 1953' Erie Pa C a 4s 1951 Grand Trunk eq 6s 1938 Great Northern 4fes 1961 Great Northern 7s 1836 Great Trunk 6s 1938 Great Trunk 7e 1940 Illinois Central joint 5s 193 Illinois Central ref 4 1955 K C Southern ref 5s 1930 Keo & Des Moines 1st 5s 1923 L S & M S 4s 1931 .. .1930 1940 ....1946 ....1990 1975 1923 ....1926 .1934 L & N 7s L & N uni 4s M St P & S S M 6s.. M, K T 4s Mo Pacific gen 4s.... Mo Pacific ref 5s Mo Pacific ref 5s N Y Central deb 4s.... N Y Central con 4s 1908 N Y Cent ref imp 4s 2013 N Y Central cv deb 6s 1933 N Y Central coll 7s 1930 N Y, N H & H cv 6s 1948 No Tex & Mex 5s .1935 N P P L 4s 1997 Northern Pacific 6s 2047 N P Gt Nor jt 83 1936 O S L ref 4s 1929 Pennsylvania 6s 1938 Pennsylvania gen 4s 1965 Pennsylvania 4s '. :1960 Pennsylvania gen 5s .1968 Pennsylvania 7s 19:10 Reading gen 4s , 1997 O A Li 43 19.JO S A' L OS S A I. 6s A Sou Railway con 5s... rou r'acltic cv 4s Sou Pacific ref 4s Sou Pacific sf term 4s. Sou Pacifio ref 4s Sou Pacific conv 5s.... St L & S F PI 4s" A... St 1 ft S F gen 5s St L & S F PI 5s B. . . St L & S F gen 6s St L & S F adj 6s St L & S F inc 6s St L ft S W 1st 53 St L & S W con 4s. . .V St L & S W 1st 4s Texas Pacific 1st 5s... Union Pacific 1st 4s.. Union Pacific cv 4s... 1927 Union Pacific ref 4s ...2008 Lnion Pacific 6s 1928 Union Tank 7s 1930 Wabash 1st 5s 1939 Wabash 2d 5s 1939 West Pacific 5s 1946 Industrials Allied Packers 6s 1939 Amn Agr Ch Ch 7s 1941 Amn smeltins 1st 5s 1947 Amn Tobacco 7s ..1922 Amn Tobacco 7s ,. . . 1923 Anaconda 6s A ....1929 Anaconda 6s B 1929 Armour cv 7s 1930 Armour 4s 1939 Beaver Board 8s 1933 Bethlehem Steel 7s 1H22 Bethlehem Steel 7s 1923 Bethlehem Steel eq 7s 1935 Bethlehem Steel ref 5s 1942 Cetro de Pasco 8s 1931 do pfd K,7 Bait & &Ohio do pfd Beth Steel "B' Booth Fish... B R T Butte C & Z.. Butte & Sup.. Burns Bros . . Caddo Oil Calif Packing. Calif Pot do pfd Canadian Pao. cen Leather.. Cerro de Pasco tJband Motor. Chgo & N W. cm at w..... ffo pfd Chili Cop 10.400 Chino 3.800 C M St P 7.400 do pfd 7.700 Coco Cola . . .. 4,600 C & O 1,800 Colo F & 1 100 Colo Southern 500 Col Gas & EL a ono i-oium tirapn. Con Gas Cons Cigars.. do pfd Contl Can . . . Cities S Bnkrs Corn Prod . . . 5,000 10,700 400 24,800 2(8) 400 700 2.4O0 ,100 100 700 6.200 11,100 2,900 1,900 27,900 2,500 900 1,000 1.500 5,000 200 38 65 63 6 10 5 26 120 12 75 64 140 83 344 72 69 ii5 17 26 24 38 45 60 26 45 7.5, - 98 21 37 65 62 6 10 5 25 119 11 75 62 138 32 32 69 68 6 18 10 25 23 87 44 59 26 44 75 2 94 20 900 64 20 103 53 19 101 .d,.Efl,;--- -o-jaa -a--" lis 37 54 62 6 . 10 4. 6 25 110 11 74 51 87 139 32 33 69 68 7 18 16 8 23 37 45 . 69 26 44 75 o 94 21 45 63 20 10114 cosden Oil ... 8.400 36 C K I & P.... 35,100 42 do A pfd... 200 93 do B pfd... 600 80 Crucible 14.100 65 do pfd 200 81 Cuba Cane . .. l.ooo 10 do pfd 2.000 28 Cub Am Sug.. 3,200 19 Del & Hudson 800 111 ' Dome Mines.. 700 25 Del .& Lack... 800 115 Davison Chem 8,600 60 End & John.. 800 81 Erie 8,400 It do 1st pfd.. 2,200 18 Elec Stor Bat 300 142 Fam Players.. 12,300 83 Fed M S do pfd 200 38 Fisk Tire .... 700 12 Gaston Wms.. 100 Gen Cigars... 100 . 68 Gen Klec .... 700 153 Oen Motor.... 24,500 8 Olen Alden... 1.500. 45 Gen Asphalt.. 11,400 64 Goodrich .... 500 87 Goodyear .... Oranby 200 Gt Nor Ore... 3.000 Gt Nor pfd... 2,500 Greene Can... 100 Gulf S Steel.. 8,700 Houston Oil.. 6.500 Hupp Motor,. 2,000 Ills Cent .... 400 Inspiration ... 2,000 lnt Ag C com do pfd .... 200 Interboro .... 30 do pfd 400 Intersta Cal.. 200 lnt Harv 200 lnt Mer Mar.. 1,200 35 40 ft 62 81 9 27 18 111 24 113 67 .80 10 17 140 81 'sk" 12 68 131 8. 44 62 37 do pf(1 2,700 Tnt N'lfkel 2.3'Hi 2814 35 76 25 71 79 14 100 39 '38 ' ? 6 92 15 72 11 27 34 75 25 66 75 14 100 88 -38" 2 6 9.1 15 70 1 1 35 40 91 79 64 80 9 -J( 18 110 113 58 SO 10 17 138 81 o 87 12 68 150 8 62 37 10 27 H4 75 25 6914 75 14 100 38 9 38 2 6 .5 92 15 70 Liberty Bond Quotations. Liberty bond and victory bond -quota tions at New York as furnished by Over- beck & Cooke company of Portland: Open. High. Low Bid Liberty. 8s.. do 1st 4s... do 2d 4a do 1st 4s . do, 2d 4s . do 3d 4s . do 4th 4s . Victory 4s.. do 3s .... 97.00 97.02 9890 96.70 97.18 90.88 97.54 97.16 96.90 97.28 97.0O 97.84 97 38 96.70 97.14 96 82 97.50 97.14 98.94 97.10 96. 80 97.20 96.94 97. 7 S 97.22 .100.26 100.28 100.26 100. 100.00 Mining Stocks at Boston. Allouez 25 North Butle ... 11 Ariz Com 8 Old DommLon. . .24 CaJ & Ariz... 57 Osceola 32 Cal & Hecla.,.275 Quincy 43 CentenniaJ .... 10 Superior 2V4 Cop Rg Con Co. 41 Sup & Bstn Mn. 1 R Btttto Cp M. 10 Shannon 90 Fra-nklin 114 Utah Cons .... 2 I Royal (Oop.). 23 Winona 40 Lake Copper... 2 Wolverine 10 Mohawk 53 1 Money, Silver, Etc. NEW YORK, Feb. 27. Call money easier; high, 5 per cent; low, 4; ruling rate, 6; closing bid, 4; offered at 4; last loan, 4; call loans against accept ances, 4. Time loans firm; 60 days, 4o per cent; 90 days and six months, 4$d. Prime mercantile paper, 4g-5 per cent Foreign bar silver, 63c. Mexican dollars, 48 c. LONDON, Feb. 27. Bar stiver, 32 d per ounce. Money, 2 per cent. Discount rates short bills, 3 3-16 per cent; three months bills. 33 3-18 per cent. ...1949 ...1945 ...1094 ...1929 ...1955 ...1950 ...1949 . . .1034 ...1950 .. .1931 ...1950 ...1931 .. .1955 ...I960 ...1952 ...1932 ...1989 .2000 .1947 86 91 91 107 74 , 44 5814 39 39 41 81 104 8814 107 101 109 93 64 84 80 90 106 89 101 76 62 89 93 86 79 86 S9 105 70 65 84 102 106 89 105 87 95 96 106 82 54 - 18 52 90 88 84 81 84 96 69 96 82 102 76 62 i o 73 77 91 91 91 85 103 103 95 86 84 68 100 88 101 102 96 102 103 88 68 101 101 102 92 111 83 100 38 101 102 102 104 85 71 104 78 35 107 108 92 101 98 105 97 1 1 2 104 ?i 100 89 98 74 93 103 102 98 85 99 H 93 113 93 114 86 103 100 101 92 100 99 98 101 103 106 86 104 10014 99 94 108 95 87 106 106 99 88 96 11 2 i 107 39 ' 84 104 87 85 Con Gas cv 7s 1923 106 Int Met 4s 1956 1 16 Int R T ref 5s 1966 63 iaclede lias Ys 1930 95 Mont Power 5s A 1943 94 Northwest Tel 7s 1941 107 Ohio Cities Gas 7s 1925 100 Ohio Power 7s 1951 101 Pac Tel 5s 1937 93 Pac Gas 5s 1942 88 Souwest Tel 7s .....1925 101 Oil Bonds Anglo Amn 7s 1025 104 Atlantic Ref 6s 1931 104 Galena S Oil 7s 1930 101 Gulf Oil 7s 1933 103 Humble 7s 1923 100'A Pan Amn 7s 1930 90 Mex Pet cv 8s ..1936 101 Sinclair 7s 1925 100 SO Cal 7s 1931 105 SO NY 7s 1931 107 Texas Co- 7s. Tidewater Oil 6s. Vacuum. Oil 4 6 ....1923, 101 1931 101 ...193 107 Bid. Foreign Bonds. ' : Foreign bond quotations furnished by Overbeck fc Cooke company of Portland: Belgian prem 5s . . Belgian 7s. 1945 Belgian 8s, 1941 .. Belgian 6s, 1025 .. Brazil 8s. 1941 ... British 5s, 1922 ... British 6s, 1927 .. British oat, 1929 ... British ref 4s Bordeaux 6s, 1934 .... Canadian 5s, 1937 Canadian 5s, 1926 Canadian 6s, 1929 .. Canadian 5s, 1931..... Canadian 6s. 1927 .. Chilean 8s, 1941 C .... Russ currency French 5si 1920 ... French. 5s, 1931 ... French 7s, 1941 French 8s, 1943 .. Berlin 4s ... Hamburg 4s Leipsig 5s.... Munich 4.S Munich 94 .1932 ...1923 ...1923 ...1922 ...1923 ...1924 ...1925 ...1943 ...1934 . . . 1931 ...1930 . . . 1927 ...1940 ...1952 ...1932 . . .1941 . . .1931 . . . 1930 . . . 1923 . . . 1950 ...1931 Chile conv Os A Chile conv 7s Columbia Graph 8s Copper 'Itxp 8s Copper Exp 8s Copper Exp 8s Copper Exp 8s Colorado Fuel & Iron ben 5s Colorado Ind an Cuban Amn Sugar 8s Cuban cano cv is Distillers Sec cv 5s Diamond Match 7s -. 193: Dupont 7s 1931 Empire Gas Fuel 6s 1924 Fisk 8s 1941 General Electric deb 5s 1952 General Electric deb 6s 1940 Goodrich 7s 1925 Goodyear 8s 1941 Heinz is 1930 Hershey 714 s 1030 lMmois Steel deb 4s .... Illinois Steel 5s int AgT 5s Int Marine CT 6s Kelly Springfield 8s Kennecott 7s Laekawarr.a Steel 5s Lackawanna Steel 1st 5s , Libby, McNeil & Llbby 7s Liggett & Meyers 5s 1951 Liggett & eMyers 7s 1944 ijoriliara os 1951 Lorillard 7s 1944 Mldvale 5s 1935 Morris & Co. 7s 1930 Proc & Gamble 7s 1922 Proc & Gamble 7s 1923 Republic Iron & Steel 6s 1940 Sears Roe '7s 1922 do 1923 . : 1923 Steel & Tube 7s 1951 Swift & Co 7s 1925 do 1931 Uni Drug 8s 1941 U S Rub 1st ref 5s 1947 do 7s 1930 U S Steel sf 5s ...1983 Var Car Chem 7s 1032 West Elec 5s 1922 West. U T col Tr 5s 1938 est Union 6s .. Wilson 1st 6s Wilson cv 6s .... West Elec 7s..... Westinghouse 7s .. Public Utilities Amn Lt & Trans . , Amn Tel coll 4s. . . do 5s j... Amn Tell 6s Bell Tel of Pa 7s. BRT 5s Cal Gas uni 5s.... Cities Service 7s B do C do D 1930 .. .1941 . . .1928 ...1923 ...1931 ...1925 . . .1929 ...1946 ...1925 ...1945 . . .1945 .. .1937 ...1966 .. .1966 . .. 19(16 i 99 80 107 108 102 108 111 103 425 98 96 97 108 104 107 107 108 100 104 85 93 75 89 88 109 4 101 114 98 98 44 55 70 105 105 99 111 LIGHT HENS 22c HEAVY HENS 26c On Tuesday and Wednesday Arrivals. cnecics bame Day Shipment Received. The Savinar Co., Inc. Front St., Portland, Or.1 iR YOU LOOKING FOR A DE IUAHI,B PHOD11CB UKALKRf ' i nuuer Pork Cheese Poultry Keg Honey Any Prodaet (k for InleM methods nsrd tn pare shipments for higher prices. KLIil at (JO., Front St Portland, Or. New York Bonds. New Tork bond quotations furnished by Herrin & Rhodes, Inc., Portland: Foreign governments Argentine 2d 7s 1923 do GI 6s 1945 Belgium 8s 1940 do 7s 1945 do 6s 1925 Bergen 8s 1943 Berne 8s 1943 Brazil 8s 1941 Brit War Loan 5s 1929 Canadian 5s 1926 do 1931 do 1937 do 5a 1929 Copenhagen 6s 1944 Chile 8s 1941 Danish, Consol 8s . '.l4t! do Mun Ss 1945 Denmark 8s 1945 French 7s 1941 do Ext 8s .1945 do Cities 6s 1934 Italy 6s A ....1925 Jap ext 4s 1931 do 1st ext 4s 1925 do 2d 4 Ger S 1925 Norway 8s 1940 Rus Ruble 5s 1926 San Paulo 8s 1936 Swiss 8s 1940 Swedish Govt 6a 1939 Swiss 5s 1929 U S Mex 4s 1954 do ext 5s 1945 Uruguay Ext 5s United Kingdom cv 5s 1922 do 1929 do 1937 Zurich 8s 1945 Foreign government cities Berlin 4s 4 Greater Berlin 4s 4 Hamburg 4s 5 Bremen 4s 5 Cologne 4s .- 5 Dresden 4s 5 do 4s 5 Dusseldorf 43 5 Frankfort 4s 5 Leipzig 4s 5 do 4s 6 Munich 4s 5 Piuiugitri Essen 4s Atch gen 4s- 1995 A C L 4s 1952 A C L 7s 1930 B O gold 4s 1948 B O con 4s cv 1933 B O ref 5s 1995 Canada Southern 5s, 1902 Canadian Nal eq 7s 1935 Canadian Nor 6s 1946 Canadian Nor 7s 1940 Central Pacific lt 4s 1949 Chea & Ohio cv 4s 1930 Ches & Ohio gen 4s 1992 Ches & Ohio cv 5s 1946 Ches & Ohio con 5s 1939 C B & Q 111 dlv 4s 1949 C & West Ind 4s 1052 C G & W 4s. . 19.-.9 C M 4 St P 4s 1925 C M 8t P cv 4s 1932 C M ft St P deb 4s 1934 C M & St P gn 4s A 1899 C M & St P cv 5s 2014 C M 4 t Pt i and r 4s A.. ..2014 Chicago NW gen 4s ....1987 Chicago NW 6s 193 Chicago N W 7s. ..............1930 C a l & P Kt 4a. 1934 5 87 87 104 78 77 78. v,i 105 108 109 82 83 83 86 98 8S4 70 60 74 65 59 72 64 58 83 10 106 78 Wallowa County Oregon 5y2 Road Bonds Due SI arch 1, 1938-39 Incl. Free from all Federal Income Taxes. Eligible as security for Post al savings deposits. Assessed valuation, 1920 $17,501,490 Total bonded debt... 300,000 Population 1920 census, 977S At Prices Yielding 5.00 (According to maturity.) The National City Company Offices in more than 50 cities. ' Yron Bolldinsr Portland. Telephone Alain 6072. Same Principle Applies . Students of how to preserve our high ways are not concerned so much with the necessity of figur ing to a mathematical certainty the maximum width of wheel and load to be allowed on trucks, be cause they fully realize that the solution of the matter lies in ex tending to the pavement itself the same principle of discrimination between cushion and rigid sur faces that is made between solid and pneumatic tires In state license fees. For example, the laying of resilient pavement like Warren ite Bitulithic instead of rigid,, non yielding surfaces, saves the road from impact. HOTEL HOYT Strictly Fireproof. Near both depots and convenient car servica to all parts of city. Single Booms Without Bath, St and UB single Rooms With Bub, fi and op E. . LAltlMORE, Manager. Jap 4s, 1931 Jap 1st 4s, 1923 Jap 2d 4si 1923 . Norway 8s, 1940 . Russian 5s, 1921 Russia 5s, 1926 Russian 6s, 1919 Swiss 5s, 1929 .. San Paulo 8s U K 5 s, 1922 U K 5s. 1929 ... U K 5a, 1937 ... Chinese 5s, 1951 .. Bid. Ask. . 75 78 . 79 83 .107 108 .107 108 .101 102 .193 104 . 90 92 . 91 93 .90 92 . ..73 76 . 70 72 .85 ... . 90 97 . 97 98 . 99 99 . 96 96 J . 97 98 .102 103 .8 9 !!l08 109 s .107 108 . 54 55 .-. 79 81 ,. 67 68 .100 100 ,.103 104 .. 3 4 ,. 3 4 .4 5 ..4 5 ., 4 5 .. 4 5 4 6 .. 5 6 ,. 4 5 ..40 41 .. 7 75 .. 89 89 . . 88 89 ..109 110 . . 18 20 .. 4 5 ..IS 20 . . 90 100 ..114 115' ..101 102 4 11-16 105 ..105 105 RON MQ STEEL REVIVE OUTIiOOK REPORTED BRIGHT ER IX EAST FOR INDUSTRY. 9 11-16 &l 99 13-16 Standard Oil Stocks. Standard Oil quotations furnished by Overbeck & Cooke company of Portland: Bid. Asked. Anglo Borne Scrysmer . . Buckeye . . . Cheesbrough . . . ao pra. 17 !4 325 90 3 85 .1U9 Continental 1: Crescent 33 Cumberland 1.15 Galena corn 48 do Old pfd 109 do New pfd 103 Illinois Pipe 172 Indiana Pipe J'3 N T Transit ....lo7 Northern Pipe ' 104 Inter'l Pete -. 34 Penn Mex 22 Prairie Oil i0 Pmirie Pipe 238 Solar Ref 3.15 Southern Pipe !1 South Penn Oil 173 S W Penn Oil 60 S O Ind ; SIM S O Kansas 500 S O Kentucky 450 ' SON Y 358 S O Ohio 380 do pfd 115 Swan & Finch. 30 Vacuum 333 Washington 28 S O Nebraska i 370 Imperial Oil i 103 17& 350 92 195 312 130 34 3 45 50 312 3 05 174 94 3flf 106 35 24 540 241 375 93 176 62 R7i 525 4m 301 390 118 35 337 32 175 104 Foreign Exchange. Foreign exchange rates at the close of business yesterday, furnished by North western National Bank of Portland. The amount quoted is the equivalent of the foreign unit in United States funds: Austria, kronen $ .0005 Belgium, francs 0885 Bulgaria, leva 00 SO Czecho-Slovakia, kronen 0185 Denmark, kroner .2115 England, pound sterling 4.4450 Finland, finrnark France, francs Germany, marks .0210 .0925 .0047 Greece, drachmas , 04fi5 Holland, guilders Hungary, kronen Italv. lire . . Jugo-Slavia, kronen .3850 .0020 .0535 .0038 Norway, kroner , .1725 Portugal, escudoa .0793 Rournania, lei 0087 Serbia, dlnara 0135 Spain, pesetas ItUO Sweden, kroner 2670 Switzerland, francs 1908 China -Hongkong, local currency. . .5275 Shanghai, taels 7600 Japan, yen 4800 NEW TORK, Feb. 7. Foreign ex change strong. Great Britain, demand $4 434, cables $4.43; sixty-day bills oo banks, 4.401t. France, demand, 9.19, ca blpR 9.20; Italy, demand 5.32, cables 5.33; Belgium, demand 8.69, cables 8.70-; Germany, demand 43' r cables 44; Hol land, demand 38.45, cables 38.49; Swit zerland, demand 19.58; Spain, demand 16.0O; Greece, demand 4.53 ; Poland, de mand .02 Czecho-Slovakia, demand 1.79; Argentina, demand 36.37; Brazil, de mand 13.75; Montreal. 98U. Inquiries for Plates and Sheets Show Increase. Business Tide Being More Diversified. (Copyright by the Public Ledger Company. Published by Arrangement.) PHILADELPHIA, Feb. 27. Special.) Plates continue to be the most active steel product with the exception of tin plate, which bids fair to be the market leader for several months longer. One of the largest platemakers says his orders are increasing among a diversified number of customers in all parts of the country He is encouraged by the negotiations by the Chicago, Burlington & yuincy for new locomotives. Sales for structural uses are increasing. Cast pipe is in steady demand. Manufactur ers are estimating on 105,000 tons of cast ings required by Booth & Flinn, Ltd., for construction ot the New York-New Jer sey vehicular tunnel under the Hudson river. Sales of pi-g iron are confined to small spot orders, indicating that stocks are low among jobbers. Coke la strong. Sheet makers report increased demand. Quota tions are firm, but willingness to grant concessions on attractive orders is ad mitted. The convention of the Pennsylvania and Atlantic Seaboard Hardware association here failed to give wire and nail makers any hope for an immediate revival in de mand for their products, stocks of which are known to be low. One of the largest makers quotes nails at $2.50 and wire at $2.25 and Insists his prices are firm, but a competitor expresses willingness to undersell him by 10 cents. IROX AJTD STEEL HAKE PROGRESS Little Forward Buying In Held to Be Fa vorable Indication. (Oo-pyrigfot by the Public Ledger Co. Pub lished by Arrarwceiment.) PITTSBURG, Feb 2.7i The i-ron and steed made f urth er progress t hi s week. Lifctfle farwaird buying is in evidence most being for quick dJvery. But Instead of being unfavorable, this ottwxuld be regarded aet a propitious condition. . Since opea-uttans fhow.a substantial Increase under hand to mouth buying and consumption there re mains practitti4y no action of stocks on Inventory. Iiv the Pittsburg district the laTgeg steel companies are o per kiting above SO per cent or capac4ty wmie in rinisning lines pilaaxtjs are operating in a lew ca ud to tH p cent. At the prices, buyera who "have fairly substantia! tonnages to place, secure closer. However, tJie trend is firmer and buyers find, some difficulty m obtaining conces sions from S1.40 on pla-tee, shapes and hairs. Producers of sheets refuse business In black and galvanized stock at Vess than 3 and 4 cents, respectively. With in creased In q uiry, f rora j o bbers for w ire products, there is apparently less disposi tion to ehaxle prices. The price situation varies and: not alrto gether favors- the buyer. However, unt-W mills accumulate such a volume, of otrders as to be able to promkse ptroanptt Aellverd'es, ccmpeitit jo n wil I d evel-op vr Jatwe prices. Competition has not lowered the extreme prices, the prices named on the largest orders but has developed concessions from regultar prices on snratl lots, -whereby in som e steel prod uc t s It is onl y moderat e sized ordjera which go at the full, or regu lar prices. Naval Stores. SAVANNAH, Ga., Feb. 27. Turpentine steady, 84c; Bales, GO barrels; receipts, fifl barrels; shipments, 11 barrels; stock, 3975 barrels. Rosin, firm. Sales, 562 casks; receipts, 332 casks; shipments, 210 casks; stock, 72,196 casks. Quote: B, D, E, F, G, H, I, $3.054; K. $4.354.40; M, $5.105.15, N, ?5.50; WO, $5.S5; WW, $6.10. Cotton Seed Oil Futures. Cotton seed oil futures at New Tork, fur nished by Herrin Rhodes, Inc., of Port- The Netherlands 50-Year 6 Bonds These bonds are the direct, general obliga tion of the Kingdom of the Netherlands, a coun try .proverbial for her thrift and industry. Hol land's credit ranks with that of the United States of America and England. This is the first time in history that a Nether lands loan has- been of fered in the United States. The bonds will enjoy a broad international mar ket and will be listed on the exchanges. Although our participa tion in the issue has been disposed of, we shall be pleased to purchase these securities for you on the market and strongly r e c o m mend them as a conservative and profit able investment. C1ARK-KENDALL & CO.: INC. Fifth and Stark Streets arntrrr-MUNiaPAucoRrxif?AnoN- BONDS Backed by 'the entire resources of this wealthy city of 8000 people 15,980.04 6 Bonds Pendleton, Ore. Pendleton bonds always find a quick mar ket, because the city is wealthy and is the center of a rich wheat, livestock and wool country. Bonds in ?500 denomination. Est. maturities 1923-32. Are income tax ex empt. PRICES TO YIELD K9(W. 10 Hot Shot Ask the man who buys bonds on our Partial Pay ment Plan. Freeman, Smith & Camp Co. LoiMBXRMCNS BuDO, PORTLAND land: March, 11.2711.30; April, $11.39 11.45; May. $11.5011.51; June. $11.60 11.85; July, $11.7311.75; Augrust, $11.84 11.85; September, $11.9411.05; October, jii.suii.ost. tspot, $11.15 bid. Bales. 33.600 barrels. WE OFFEB ATTRACTIVE FIRST MORTGAGE LOANS Oq Improved City Real Kutate and Ag ricultural .Lands, v By the first Mortgage Security Company. CorvalMs, Oregon. Owned and Controlled by Officers of FIRST NATIONAL BANK, CorvaIli5, Oregon. Denominations $1000, $5000. These loans are made by the funds of the company for their customers. They are not made by agents or bro kers Interested in commissions. The management has been making loans since 1880 and has never lost a dollar on real estate mortgage loans. Each loan is evidenced by a princi pal note with interest coupon notes attached. All notes bear 10 per cent after maturity. If desired the com pany will hoid - and collect interest, crediting the amount or send draft. For further information call on Ralph A. Blani'uard Co.. 317 V. S. Bank bldg. Investment Opportunities and Oar Twenty Payment Plan Thes publications tell of good iavwt ment itocks, which cut b purohaaAd on mall payment extending tiwot a period of twentp-nionth. Tbis plan was originated hr na in IMS. Too can aaoura botn frea. Write for 77--P.O. - Investment Securities 40 Exchange Place, New York Guaranteed PUTS! CALLS "The Safext Way to Trade." ODD LOTS We handle 10, 20 and 50-share lots on Puts and Calls also write 7. 15 and 30-day papers. P r o f 1 1 - taking? possibilities of this foolproof method of trading: is explained in our booklet, "How to Trade in Puts and Calls." Prompt Attention to Mail Orders. WATSON Si COMPANY Investment Securftiea, 525 Stock En-hanee Building;. Lea Angelea. giiiiiiiiiiiiiiiiiiiniiiiiiinfiiBnii!i The Choicest List Selected for every need: We own and offer, subject to prior sale, Municipal Bonds Tillamook County, Or., Eoad. Lincoln County, Or. . Wallowa County, Or. j-Huntington, Or., G. D. .. Jacksonville, Or., G. 0... Port of Astoria, Oregon. . Silver Lake Irr. Dist., Or. -Slide Irrigation Dist., Or. Canadian Bonds Univ. of Alberta, Prov. Gi Foreign Government Bonds Norway i Corporation Bonds Sou. Pac, San Fran. Tern ; B. B. & R. Knight, Inc. . . Denominations lOOO, foOO; Norway 20. We are always prepared to buy or sell these or other high-grade bonds. Rate Maturity Yield . 5 1933 4.90 . 5Va 1933 5.00 . 5 1934 5.00 . 5 1935 5.00 . 5 1936 5.00 . 6 9-1-50 5.10 . 6 9-1-31 5.10 . 5 3-1-33 5.00 . 5 3-1-34 5.00 . 6 1934 5.75 . 6 1937 6.00 . 5 1935 6.00 . 6 1925 6.00 . 6 1926-45 6.50 . 6 1933-37 6.50 .4 1924 6.10 .. 8 1962 6.00 up ,. 4 1950 5.35 ,. 7 1930 7.15 . 7 1936 7.39 . 8 1931 8.00 Provincial and Foreign 7.65c Bonds to Yield to I A , Due. Yield. Province Alberta 42s 1924 Wso British Columbia 6s 1923 67o Province Ontario 4s..... 1926 6 Dutch East Indies 6s.. 1947 6.45 French Cities 6s 1934 7.65 Greater Winnipeg 5s............ 1923 6.23 City Victoria, B. G, 6s 1928 6.30 Victoria, B. C, 4s........ 1923 6ft SAVERS Reserve a bond. Pay as convenient and get full interest on your money while paying. XilJMJBEKMEHS BROADWAY AND OAK U.S. Certificates of , Indebtedness and Gold Notes Unquestionably safe Easily sold at any time cAttraftive as to interest rate WelUYkndSELL in any amounts at the current market o4sk for bookletVA-i i giving full explanation and quotations HALSEY, STUART & CO INCOHPOBATEO CHICAGO DETROIT 209 South La Salle Street, Chicago PHILADELPHIA BOSTON . MINNEAPOLIS ST. LOUIS NEW YORK MILWAUKEE Seattle G.E. MILLER & COMPANY Second Floor Northwestern Bank Ruildincr. Portland Portland Phone Main 4-1-9-5 'Himiiiniii!iii!iii!iggj j II !i U il n II U III! H il n " " JI 11 n " CITY OF HOQUIAM, WN. 10 year 7 Improvement Bonds Lincoln Paving District No. 316 Dated Jan. 5 1022. Estimated Maturities 1 to 10 Trara. Principal and Annual Interest payable at Hoqulatn. Wash., or at the office of Morris Brothers' Corporation, Port land, Oregon. DENOMINATION $1000. PRICE PAR TO YIELD NO INCOME TAX TO PAY FINANCIAL STATEMENT Aaaeaned Valuation Entire City. . . .$4,0RO,0OO Asneaned Valuation TbU Dlntrlct... 2U4.430 Beat Valuation Thl District 678,458 Hoquiam, with a population of over 10,000, Is the prin cipal mill and manufacturing city of Southwestern Wash ington, having 'a monthly payroll In excess of $450,000. It Is adjacent to 125 billion feet of spruce, fir, pine, cedar and hemlock, which is assurance of vast prosperity. Telephone or Telefrraph Orders at Our Expense. MORRIS BROTHERS CORPORATION Morria Building 309-311 Stark Street Broadway 2151. Safe Deposit Boxes. HERRIN &RHODES,Inc. , Established 1898 STOCKS, BONDS, COTTON, GRAIN Correspondents E. F HUTTON & CO.. N. I, U embers all leading: exchange . Babson's Service on File. Bdwr. 432a. 01 Railway lxcluuic Bids. BONDS U. S. D. & Trust Co. 284 Oak St. INQUIRIES INVITED We offer KINGDOM OF NETHERLANDS ' (HOLLAND) 50-year 6 Bonds (NON-CALLABLE FOR TEN TEARS) Coupon Bonds in Denominations of 2500 Guilders or $1005 at Par of Exchange. Price to yield 6.15 to 6.30 (These yields are based upon exchange at 88 cents per guilder.) Ask for fall details. ' p.l.Devepeaux Rfimpany INVESTMENT BONDS BT SrXffH STREET PORTLAND. ORCCON BROADWAY 1 043 GROUND FLOOR WCUS-TAftOO BUILDINO Portland, Oregon Special Offering 3 !. Double Your Money a 1 lt T 1 1 T T r r r YZ o oierung outnaug ruuu iMnn issue oi isuo . Province of Buenos Aires Argentine Republic Direct General Obligation Bonds. Price $242.00 Per 100 Sterling Is Advancing A. F. Bernstein Co. 536 NORTHWESTERN BANK BLDG. Phone Main 2672 Phone Your .Want Ads to TheOregonianMairi7070, A 560-9S, I V -.