TIIE MORNING OKEGONIAX, THURSDAY, MARCH 2, 1923
23
DOMESTIC BONDS ACTIVE
TUADIXG IS HEAVIEST IX KAIL
WAY OEFKKIXGS. ;
Foreign Issues Continue Strong;.
Liberties or 4 Series Close
With Slight Gains.
NEW YORK. March 1. Domestic issues
more than held their own in today's bond
market, buying again being heaviest in
the Missouri. K-i & Texas, St. Louis
& San i'rarcLco, Missouri Pacific and St.
Paui of:fiiigs- the latter including Puget
Sound 4s
Substantial gains were made by a ma
jority o the local utilities, the only marked
exception being Third Avenue adjustments-,
which fell 43i points.
Internationals, embracing the Japanese,
Danish, Swedish and Dutch East Indies
issues, were strong, but United Kingdoms
and French and Italian government were
disposed to ease.
Tradings in liberty bonds, especially the
4 series, was heavy and mainly at slight
Sains.
Total sales, par value, approximated 19,-
Slocks favored by professional traders
made further appreciable advances in the
early stages of today s active session, but
reacted sharply on the heavy selling of
the final hour, little or nothing remaining
of their one to three-point gains.
Dealings expanded, especially in steels,
aulmnents. oils and shippings. The in
quiry for rails was limited almost entirely
.to secondary shares, notably those com
prising the reorganized western ana soutn
Kestern systems.
Motor and food specialties were strong
est of the miscellaneous group. Mail order
Issues also showed improvement, although
Bears-Roebuck reported a heavy decrease
of earnings for February.
Tho liauidatlon in the last hour was
directed mainly against United States Steel
and affiliated issues, also Baldwin loco
motive. Chandler and Studebaker and such
rails as Union Pacific. Missouri Pacific.
Reading and Rock Island. Sales amounted
to 135.0H shares.
Weekly trade revews confirmed current
reports of more hopeful conditions in the
basic industries. Advices from pittsDurg
and other iron and steel centers indicated
a pronounced increase of production in the
last half of February.
Settlement of March 1 interest and divi
dend payments was effected without di;
turbance to the money market. Call loans
opened and held at 4 per cent until al
most at the finish, when the rate was
advanced to 5 per cent. Time loans ma
turing today were renewed for the Bhorter
period at 4i per cent, but offerings of
longer date were scarce.
Foreign exchanges were Irregular, ster
ling demand bills rising to the new high
of 14.44, but reacted 1 cents later. French
and Italian rates were firm, but other
continental bills continued to ease from
their high levels of last week. South
American exchanges strengthened, Argen
tine bills being sustained by reported pur
chases for Loudon account, presumably in
payment of foodstuffs and other raw ma
terials.
CLOSING STOCK QUOTATION'S.
Furnished by Overbeck & Cooke com
pany of Portland:
Midvale Steel.
M K A T Wi..
do pfd Wl..
Mont Power..
Blont Ward...
Mo Pac
do pfd
M St P A 3 S M
Nor Amn. . . . .
Nat Biscuit ...
Nat Rnamel..
Nat Lead . . t . .
Nevada Con...
New Haven . . .
Norfolk & W.
Nor Pacific. . .
Nov Scot Steel
N Y Air Brake
N T Central . .
Ok la Prod ref.
Ontario Silver.
Ontario & V . .
Otis Steel .
Pacific Dev. . .
Pao Gas A Bio
Punta Ailegre.
Pacific Oil...
Pan Amn Pet.
do "B"
Penna .......
Peo Gas
Pere Marqte..
Pure OH
Phillips Pete.
1. m0
l.ouo
00
11.400
12.3H0
100
3,? 00
l'.OOO
BOO
2iK
2,ono
400
2.100
"2,000
2,3(10
3..100
2O0
S00
700
200
600
2, HK
ll.SXM)
8.100
2.700
2,200
4O0
2.0"0
3.200
4,800 .
30 14
11
34
23 i
5o
00
57
33S4
88 54
14
ITS
IOO14
80
"e.i""
78 14
2i
54
22
1054
7 54
66 H
3
49
66
G0?
35
75
27
35
33
18 4
8
60
25 !4
14
74
32
31
4!
78
3,600 54 MVi
1
08
'
88 Vj
180
38
84
20
96
28
43
09
Stock.
Adams Exp ..
Adv Hum ...
do pfd .....
Agr Chem ...
do pfd , .
Ajax Rub
Alaska Gold .
Alaska Jun ..
Allied Chem..
Aliis-Chal ...
do pfd
Am Beet Sug.
Am Bosch ...
Am Can Co. . .
do pfd
Am Car & Fy
do pfd
Am Cot Oil...
do pfd
Am Drug Syn
Am H & Lea.
Sales.
100
100
""406
'i',700
100
100
40O
1.800
100
100
oo
4,100
200
400
Z. 606
1,200
100
2,400
High.
62
14
Low.
62
14
35 35
do pfd 1,800
Am Ice
Am Int Corp.
Am Linseed .
do pfd .....
Am Loco ....
do pfd
Am Saf Raz..
Am Sh & Com
Am Smelt ...
do pfd
Am Snuff ...
Ara Stl Fdy..
Am Sug
do pfd
Am Sumatra.
Am T & T...
Am Tob
do "B"
Am Wool . . .
do pfd
Ara W P pfd.
, Am Zinc .
' Anaconda ....
Assd Oil
Atchison ....
At G & W I..
Baldwin Loco
do pfd
Bait & Ohio..
do pfd .....
Beth Steel B.
Booth Fish . .
B R T
Butte C & Z..
Butte & Sup.
Burns Bros .
Caddo Oil ...
Cal Pack
Cal Pet
do pfd .....
Caa Pac
Cent Leath . .
Cerro de Pas.
500
8,100
91(0
200
3,600
100
1.300
4,700
1,000
100
900
400
8,900
1,766
1,300
400
300
3.U00
"200
300
1,500
i'soo
2.800
12,000
i'.ioo
100
4,500
'506
2.S0O
500
6.000
1,000
500
5,200
i'.soo
5,600
300
900
. 500
300
S.400
000
3000
S.500
2.20O
400
200
1.30O
4.300
l,10O
60O
100
Chand Motors 23,000
vni J w . . .
Chic Gt W ...
do pf
Chili Cop .
Chino
C M St P ...
do pf
Coco Cola
c & o
Colo F I ..
Colo South . ..
C'oJ Gas & El.
Colum Graph.
Con Gas ......
Cons Cigars ..
do pf ......
Gonti Can
Cit S C V B. .
Corn Prod ... 700
do pf ...... 100
Cosden Oil ... 3.300
C R I & P ... 13,500
do "A" pf. . 300
do "B" pf.. 600
Crucible 5,100
do pf
Cuba Cane 9.400
do pf 1.200
Cub Am Sugar 2.90O
Del & Hudson. loo
IKme i i,:a 300
Del & Lack .. 300
Davison C ... 5,400
Kndl Johnson. 300
ilrle 1200
do 1st pf . . 800
El St Bat 200
Fmous Players 11.100
Fed Min & Sm.
do pf
Fisk Tire . . .
Gaston Wma.
Oen Cigars ...
Gen HT.ec .... 200
Gen Motor 8,300
Glen Alden .. 200
Gen Asphalt.. 10.000
Goodrich 1,500
Goodyear
Grauby 100
Great Nor Ore 200
Greene Cana . .....
Gulf S Sue) .. 0.400
Houston Oil . . 000
Hupp Motor . . 100
Illinois Central 200
Inspiration ... 500
Int Ag Cp com 300
do pf 100
Interboro ' 300
do pf
Inter Calla ... 300
Int Hrv 500
do pf
Int Mere Ma.. 500
do pf S.non
Int Nlcfrel ... 1.2O0
Int Paper .... 400
do pf
Invincible Oil. 13.SOO
Island Oil. . . . 5.000
Jewel Tea BOO
K C Soi them. 100
do pfd 10O
KeJly-Spgfld . 2.000
Kennecott ... 2.000
Keystone Tire. 3,1"0
Lack Steel.... 500
Lee Tire 1.600
Lehigh Valley 4oO
Lorlllard 100
Lowe Theaters 1,200
X. N 10O
Marland Oil.. 800
Martin & Perry oo
May Stores... l.fioo
Mex Pet 29.200.
16
57
47
91
37
39
40
101
150
24
61
: s
15
70
-. 98
45
33
57
109
114
4
13
47
90 Vi
137
31
70
'is''
119
139
133
86.
2S
12
49
"97
25
107
38
65
63
'io
5
26
12(1
11
73
52
137
34 34
73
68
7
18 .
17
26
24
37
45
59
26
45
77
97
21
15
57
46
91
37
38
39
101
149
'23
49
5
15
69
93
44
32
67
108
114
4
12
47
90
136
31
68
27
119
137
134
85
28""
12
48
"96
24
105
'37
55 '
- 62
"i6
6
25
124
11
73
60
136"
33
34
71
67
6
18
16
26
22
30
44
69
26
45
75
2
95
21
600 63 65
102
114
36
41
92 5i
79
67
"i6
29
20
111
25
114
60
81
11
18
140 '4
82
101
114
35
39
92
79
55
"9
28
19
111
24
1144
68
80
10
17
140
0
8,100 13 12
153
8
45
64
38
33
"72
76
14
100
38
9
38
Miami
Oil
200
300
5
91
"jj
72 i
11
49
'l7
1
19
26
64
28
28
ia
2S
60
152
13
113
27
2S
115
124
27
13t4
153
8
44
62
38
27""
34
'70
75
14
100
38
9
38
2
"5"
90
is
71
11
48
i6
1
18
25
54
27
27
16
45
28
59
151
13
113
27
27
113
121
26
13
Close.
61
13
38
33
57
15
57
45
1
36
38
39
101
148
119
23
49
5
3o
69
44
32
00
108
114
4
46
90
136
31
69
97
27
119
137
134
85
iOd
26
12
48
102
96
105
107
87
64'
03
6
IO
5
25
125
11
73
88
135
33
33 i
71
67
6
IS
' 16
20
22
36
44 Vj,
69
25
45
76
2
95
21
40
64
21
102
113
3
39
91
79
56
81
28
19
111
24
ll
59
80
10
17
139
80
H
87
13
67
li3
8'.
44
62
37
10
27
84
zo
70
75
14
100
38
8
87
7
0
90
106
15
71
11
48 4
80
16
1
18 V,
S.1
63
27
27
J5
45
28
59
151
13
113
27
27
112
122
26
13
Pierce Arrow. 11,700
Pierce Oil 7,900
Pitts Coal 100
Pitts & W Va 100
do pfd
Pressed St Car 200
Pullman ..... 1,200
Ray Cons. 500
Reading ..... 3,800
Remington ... 20O
Replogle Steel 5O0
Republic I & S 2.400
do pfd 6O0
Rep Motors
Roy Dutch Oil
Ry Stl Spg
Saxon Motors. 200 1
Sears Roebuck 8,500 69
Shattuck, Art
Shell T & T.. 300 42
Sinclair 17.300 23
Stand Oil Ind. 6,000 S8
Stand Oil N J. 1.900 183
Sloss Shef ... 50 38
Sou Pacific .. 3.500 84
Sou Ry 4,200 21
Stand OH Cal. 1.600 S7
St L & B F. .. 5,700 29
Stromberg Car 1,900 45
Studebaker . . 4,000 101
Swift & Co. . .
Tenn C & Che
Texas Oil ....
Texas Pac
Tex Pac C & O
Tob Products.
Tran Contl Oil
Union Oil Del.
Un Pac
United Alloy .
United Drug .
United Food P
United Fruit .
Union B & P.
U S C I Pipe.
United Re Sto
U S Ind Alcoh
U S Rub 16.400
do 1st pfd.. 200
TJ S Smelting
U S Steel 36.100
do pfd 1,000
Utah Copper.. 1,000
Va Chem .... 5O0
do pfd 300
Vanadium Ste.
Vivandou ....
Wabash
do A pfd...
do B pfd ...
Wells Fargo .
Western Pac .
do pfd
Western Union
Westing A B.
do is tk M...
West Md
White Motors.
Willys-Over ..
ao pia .....
Wilson Pack . 200 40
Wisconsin Cen 200 29
Woolworth .....
Worth Pump . 100, 48
W & L E 600 7
White Oil .... 600 9 ,
29
11
33
"13"
21
53
69
56
33
87
14
17
99
79
5!)
77
2
6
21
9
7
6
38
48
55
50
35
74
26
34
33
14
7
60
25
63 65
116 115
13
74
31
30
47
78
400
8.700
13,700
2,100
4.100
6,100
1,800
2, GOO
"'366
600
100
"l'.OOO
9.0O0
1,100
6,000
100
200
3.200
100
200
200
200
200
" l'.OOO
300
200
2,300
10
46
33
27
59
9
18
132
'66"
3
140
26
45
45
58
101
'95
116
62
32
69
37
I
24
15
77
18
32
92
"53
9
39
6
10
45
81
26
-58
9
IS
130
"63
3
139
"2"
43
44
57
100
'93
115
62
82
69
86
7
7
23
15
77
18
61
92
55
9
38
5
20 t
11
33
66
14
JO
63
69
56
133
33
87
14
17
9914
79
21
' 62
77
2
5
21
9
7
68
38
48
- 65
50
35
74
28
34
33
16
7
59
25
77
63
115
13
74
31
30
47
78
3
53
08
1
8
7
41
22
88
180
37
84
20
9
28
43
99
106".-
10
45
3:
26
58
40
29
46"
7
9
18
130
3
139
66
26
44
44
57
100
33
93
115
62
32
68
361
7
7
23
15
76
17
61
2 4
55
88
0
25
89
2SVk
148
4
7
9
Ex-dlvldend.
Government Bonds.
NEW YORK. March 1. Government
bonds closed:
U. S. 2s, reg. .103!U. S. cv 4s. oou105
do 2s, coup ."likijfanamft w,reg.."iw
do 4s, res. ..105( do 3s, coup ..79
Bid.
Liberty Bond Quotations.
Liberty bond and victory note quota
tions at New York as furnished by Over-
beck & Cooke company of Portlannd
Closing
ODen. High. Low. Bid.
Liberty, 3s . .197.08 J97.10 97.00 J97.0O
CIO 1st 4S 97. 20
do 2nd 4s 98.86 06.96 96.88 96.96
do 1st 4s... 97.34 97.40 07.18 97.26
do 2nd 4s.. 97.00 97.12 96.98 97.00
do 3rd 4s... 98.00 98.12 98.00 98.10
do 4th 4s... 97.30 97.44 97.28 97.34
Victory, 4s ...100.26 100.28 100.26 100.26
ao as 100.00
Mining Stocks at Boston.
BOSTON. March 1. Clostna- Quotations:
Ailouez ,. 24!Moha,wk 55
Ariz v.tfm ..... ft s. 1 . orui J5u4te . . . 11
H 1 or An ... oiiltio Lranuuon . i
Cal & Hecla ..276 Osceo4a. 33
Cop Range Com 41 !Quiji.-y 43
J5ut.te uopper io- superior 2i
Franklin 1 ISup & Boa Mita.2 1-16
Isie Koyeu cop. 21 HI Wolverine 10
Swift & Co. Stocks.
Closing prices of Swift A Co. stocks at
Chicago were reported by the Overbeck &
Cooke company of Portland as follows:
Swift & Co.
Libby, McNeil A Libby.
National Leather
do new .............
Swift International
..106
............ 2
10
22
Money, Silver. Etc.
NEW YORK. Mairoh . Call nunel
steady, nign o, tow ana ruling rate 4
elosmji bid 4. offered at 5. last kjta.n a.
ca.a loans agamec acceptances 4 .
Turne ioaras twm. 00-day. 90-day and six-
months, 4 5.
Prime mercantile paper 4: is5.
Foreign bar silver 63. Mexlca.n dol.la.rs
LONDON. March 1. Bar silver 32 d
per ounce, juoney per cent. Discount
rates, short bills, 8 per cent. Three-
monith ems B l-lt3 per cent.
New York Bonds.
New York bond auotatlons furnished bv
un 1 in ce Auuuca, inu., roriiana:
Foreign Government Bonds
Argentine 2d 7s 1923
Argentine GI 6s...
Belgium 8s .......
do 7s
do 6s
Bergen 8s .........
Berne 8s ..........
Brazil bs
Brit War Loan 5s.
Canadian 5a ......
do
do 5s
Christiana 8s
Copenhagen 5s ..
Chile 8s
Danish Consol 8s...
Danish Mun 8s. ....
Denmark Ss .......
French Cities 8s...
Italy 6s A
Norway 8s
Rus Ruble 5s ...
Sau Paulo 8s
Swiss bs
Swedish Govt 6s
Swiss os
. .1945
. .1940
. .1945
..1923
..1945
..1945
..1941
..1929
..1924
..1931
..1929
. .1945
..1941
-.1941
. .1946
..1945
..1943
..1934
..1923
. .1940
. .1926
. .1936
..1940
..1939
29
LAMBS 20c
Don't hold back any meats and
poultry ready for market. Prices
are at the top now. Checks same
day shipments arrive.
The SAVINAR CO., Inc.
10 Front St.
Portland, Or.
U S Mex 4s 1934
do ext 5s 1945
Uruguay Ext 5s......
Zurich 8s 1945
French Internal 4s 1917
French victory 5s... 1920
Belsrlan Restoration 5s
British 2per cent consols... ...
li&t cons war l.oao o per cent ...
LR
Stockholm
Christiana .................... ...
Copenhaged .................. ...
ttupees ....................... ...
Argentine
Chile
Brazil
Peru ...
Greek
Hohand
Spain
Czecho ...
Serbian
Swiss
Finland ...
Railroad bonds
Atch gen 4s 1993
A C L 4s 1952
ACL s 1930
B O. gold 4s 1948
B O con 4s cv 1933
B O ref 5a . .1995
Canada Southern 5s. .......... 1962
Canadian Nat eo. 7s .1935
Canadian Nor 6s..... 1948
Canadian Nor 7s. ....... ......1940
Cent Pac 1st 4s 1949
Ches & Ohio cv 4s .....1930
Ches & Ohio gen 4s 1922
Ches & Ohio cv 5s 1948
Ches fc Ohio con 3s..... 1939
C B & Q Iil dlv 4s 1949
C & West Ind 4s.... 1952
C G & W is 1959
C M & St P 4s 1925
C M & St P cv 4s 3932
C M & St P deb 4s 1934
C M St P gn 4s A 1899
C M & St P cv 5s 2)14
C M & St P g and r 4s A 2014
Chicago N w gen 4a 1987
Chicago N W 6s 193rt
Chicago N W 7s 19SO
C R I & P ref 4s 1934
Colo Sou rf ex 4s Iftas
Colo Sou 4s .1929
Del & Hudson cv 6a....... 1935
Del & Hudson 7s ..1930
D & R G CV 4s. ............ ...1938
u & ti u ret as 1955
Erie P L 4a 1996
Erie con 4s A .....1953
Erie B 1953
F.rie D 195s
Erie Pa C O is .. V)l
98
81
107
108
101
108
110
104
425
98
96
99
108
90
104
108
108
10914
85
93
110
4
101
114
99
100
43
55
70
111
57
69
78
50
43
79
2660
1763
2118
28
36
11
13
357
465
3830
1605
173
120
1960
204
87
87
105
78
77
79
94
108
108
110
83
83
83
86
98
88
70
60
74
64
60
73
65
69
83
106
106
78
85
91
91
107
74
4o
58
39
39
41
e
Gd Trunk eg. 6s 1938
lt Nor 4s 1961
Gt Nor 7s 1936
Gt Trunk 6s 1936
Gt Trunk 7s ..1940
lil Cen ref 4s 1935
K C Southern ref 5a 1950
Keo & Des Moines 1st 5s 1923
L S & M S 4s... 198 1-
L & N 7s 1930
L & N uni 4s 1940
M St P & S S C 6s 1945
M K & T 4s 1990
M P gen 4s 1975
do ref 4s 1923
do ref 5s 1926
NYC deb 4s 1934
do con 4s 1998
do cv Imp 4s 2013
do cv deb 6s 1935
do coll 7s ....1930
N Y N H & H cv 6s .-..1948
N O Tex & Mex 5s 1933
N P P L 4s 1997
N P 6s 2047
N P Gt Nor joint 6s 1938
O S L ref 4s 1929
Penna 6s 1936
do gen 4s 1965
do 4s 1960
do gen 5s 1968
do 7s 1930
Reading gen 4s j. .1997
S A L 4s 1950
do 5s i 1949
do 6s A . 1943
So Ry con 5s- 1994
So Pac cv 4s 1929
do ref 4s 1955
do ef term 4s 1950
105
89
107
101
109
85
' 84
80
90
106
89
101
76
63
99
94
87
79
86
99
106
69
66
84
102
106
89
105
81
95
106
82
54
19
61
90
88
S3
81
95
69
96
S3
102
. 77.
62
75
73
77
91
90
92
84
102
103
95
86
83
70
100
89
101 102
98
102
103
87
301
101
101
102
92
111
85
100
38
101
102
102
104
85
S P conv 5s .....1984
St L & S K P L 4s A 1950
St L & S F gen 5s 1931
St L & S F P L 5s B 1950
St L & S F gen 6s 1931
do adj 0s 1955
do Inc 6s ..I960
St L & a W 1st 5s 1952
do con 4s 1932
do first 4s 1989
Tex Pao first 5s 2000
U P first 4s 1947
do cv 4s 1927
do ref 4s 2008
do 6s 1928
Union Tank 7s 1930
Wabash first 5s 1939
do second 5a 1939
West Pac 6s 1948
Industrials
Allied Packers 6s 1939
Am Agr Ch 7s ,..1941
Am Sm 1st 5s 1947
Am Tob 7s ; 1922
do 7s ...1923
Anaconda 6a A 1929
do 7s B 1829
Armour cv 7s 1930
do 4s 1939
Beaver Board Ss 1933
Beth Steel 7s 1922
do 7s 1923
do eq 7s..... 1935
do ref 6s 1942
Cerro de Pasc 8s.. 1931
Chile conv 6s A .....1932
do conv 7s. ................ .1923
Col Graph 8s 1923
Copper Exp 8s 1922
do 8s ,.1923
do 8s 1924
do 8a 1925
Colo F & I gen 5s ...1943
Colo Ind 5s ..1934
Cuban Am Sug 8s 1931 104
Cuban Cane cv 7s... ,1930 78
Distillers Sec cv 5s 1927 38
Dlam Match 7s 1935 107
Dupont 7s 1931 104
Empire Gas Fuel 6s 1924 92
Fisk 8s ........1941 301
Gen Elec deb 6s 1952 98
Gen Blec deb 6s 1940 105
Goodrich 7s 1925 98
Goodyear 8s 1941 113
Heinz 7s 1930 104iA
Hershey 7s 1930 100
111 Stell deb 4s 1940 88
Ind Steel 5s.. 1952 98
ml. AST OS .................... 1932 74
int Marine CT 6s 1941 93
Kelly Spgfield 8s... 1931 103
A.ennecotl 19 .......,,...,.1930 102
Lack Steel 6s ; 1923 98
ao 1st os ... 1 M ill sin
Libby McN L 7s 1931 994
a. iK e meyers os 1951 93
00 7S 1944 114U.
ijormara os 1931 93
UO IS ...... .. 11144 114
Midvale 5s 1936 86
Morris & Co 7s 1930 103
Proc & Gamble 7s 1922 101
do 7s 1923 101 tt
nepuDUO 1 ft DI OS ..194(1 Hy
oears noe is .1922 100
do 7s 1923 An
Steel & Tube 7s 1951 98
Swift & Co 7s 1925 101
ao is luxi 1 aim
uiu irug OS .1941 107
U S Rub 1st ref 5s 1947 86
do 7s 1930 inav
1.1 o aieei l OS ................1 Km loo
va Chem 5s 1923 95
Va Car Chem 7s 1932 91
West Elec 5s 1921. ' S8 74
West U T col Tr 5s 1938 94
, r3l UHIUD O AS. ............. I H.H 1IIM
Wilson 1st 6s 1941 96
113UO CV OH ................. 1WZS BS4
. trsi riiec IS 1923 lfr
NOTICE OF BEDESIPTIOIV TO
HOLDKRS OK VICTORY
KOTKS A1VIJ OTlItSRS
CONfEHXED.
Notice la Hereby Given as
Follows 1
1. Call for redemption of 3
per cent Victory Notes. All of
these 3 per cent series of
United States of America con
vertible gold notes of 1922-1923,
otherwise known as 3 percent
Victory Notes, are hereby called
for redemption on June loth,
1922. pursuant to the provision
for redemption contained in the
notes and the treasury depart
ment circular No. 138. dated
April 21st. 1919. under which
the notes were originally issued.
Interest on all Victory Notes of
the 3 per cent series will
cease on said redemption date,
June 15th, 1922.
2. Suspension and termina
tion of Victory Note conversion
privilege, in view of the call for
the redemption of all 3 per
cent Victory Notes on June 15th,
1922, and pursuant to the pro
visions of said treasury depart
ment circular. No. 138, the privi
lege of conversion of Victory
Notes of either series into Vic
tory Notes of the other series is
hereby suspended from Febru
ary 9th, 1922, to June 15th, 1922,
both inclusive, and on June 15th,
1922, will terminate. Victory
Notes, accordingly, cease to be
interconvertible, effective Feb
ruary 9th, 1922, and on and after
that date no conversions of the
notes may be made.
3. Detailed information as to
the presentation and surrender
of 34 per cent Victory Notes
f or redemption is given in
treasury department circular.
No. 277, dated February 9th,
1922, two copies of which are
available at the treasury and 1
the federal reserve bank.
A. W. MELLON,
Secretary of the Treasury.
Westinghouse 7s . . . .
1'UOHC utilities
Amn Lt & Tran 6s..
Amn Tel coll 4s
Amn Tel coll 5s
Amn Tel 6s
Bell Tell of Pa 7s
B R T Bs
.1931 . 106
..1925
. .1929
..1948
. . 1925
..1945
..1945
99
87
96
111
107
38
Cal Gas unl 5s ..1937
Cities Service 7s B 1986 110
do 7s C 1966
do 7s D .....1966
'87
85
1081
15
63
06
94
107
100
102
94
88
101
103
104
101
103
100
97
101
101
105
107
101
101
107
Foreign Bonds.
Foreign bond Quotations furninhefl hv
wciueun. tv. wuoko company or Portland:
Con Gas cv 7a
nt Met 4s
nt R T ref 6s ...
Laclede Gas 7s...
Mont Power 5s A.
Northwest Tel 7s.
Ohio Cities Gas 7s.
Ohio Power 7s ....
Pac Tel 5s
Pac Gas 5s
Southwest Tel 7s .
Oil Bonds
Anglo Amn 7s .
Atlantic Ref 6s
Galena S Oil 7s . . .
Gulf Oil 7s
Humble 7s
Pan Amn 7a ......
Mex Pet cv 8s
Sinclair 7s .....
O Cal 7s
S O N Y 7s
Texas Co 7s
Tidewater Oil 6s
Vacuum Oil 7s
.1925
....1956
....1966
1930
....1943
1941
. . ..1925
1951
....1937
1942
1925
....1925
.'...1931
1930
. . . . 1933
1923
....1930
....1936
1925
1931
....1931
1923
1931
1936
DM
Belgian rest 6s 76
do prem 5s ................ 82
do 7s, 1945 108
do 8s, 1941 107
do 6s. 1925 l(io
Brasil 8a (new) 103
British 5s, 1922 91
ao i2i 92
do 1929 90
do vky 4s 74
do ref 4s 72
Bordeaux 6s, 1934 85
Chinese 5s 66
Canadian 6s. 1926... 98
do 6s. 1929
do 5s, 1931 90
do 6s, 1927 97
ro 5a 1927 9i
Chilean 8s, 1941C 104
uss Currency .. 8
Denmark 8s. 1945 109
Dan Muni 8s. 1945 107
rench 4s. 1917 66
do 5s. 1920 . so
do 1931 s
do 7s. 1941 100
do s. 14 104
German W L 5s 314
Berlin 4s s
Hamburg 4s 4
do 4s 4
Leipsig 4s 4
do as 4
Munich 4s A
do 5s 5
Frankfort 4s 414
Italian os. 1918 41
Jap 4s, 1931 75
do 1st 44S, 1928 89
do 2d 4s. 1925 88
Norway 8s. 1940 ., .108
.Russian 5fts, 1D21 18
do 1928 8
do 6s. 1919 is
Swiss 6s. 1929 10O
do 8s, 1940 ....114
San Paulo 5s 101
U K 5s, 1922 105 5-16 105 7-16
do 1929 105 105
do 1937 99 99
Standard Oil Stocks.
Standard Oil quotations furnished by
Overbeck & Cooke company of Portland:
Ask.
79
85
108
low
102
104
93
92
76
74
85
56
98 "4
99
Pi
99
97
9
110
108
57
82
9
100
104
4
4
4
s
5
6
6
5
43
75
89
89
108
20
9
20
100
114
101
Bid.
Anglo 17
isorn scrysmer ............ .340
pfd
Buckeye
Cheesebrough
Cheesebrough
Continental ....
Crescent
Cumberland ....
Eureka ........
Galena com
Galena old pfd .
Galena new pfd
Illinois Pipe
Indiana Pipe . . .
National Transit
90
..185
109
107
33
140
95
47
109
103
29
Ask.
17
365
92
195
112
130
34
150
97
49
112
105
175
93
29
First Mortgage Loans
On Improved City Real Estate
and Agricultural Lands
by tha
FIRST MORTGAGE
SECURITY CO.
Owned and Controlled by Officers
FIRST NATIONAL BANK
Corvallis, Oregon
Sam Management Since 1880
Not s Dollar Lost to Investor
$1000 $5000
SOLD BY:
RALPH A. BLANCHAR1) CO..
- 817 V. a Bank Bldg.
N Y Transit 158 161
Northern Pipe 103 lOo
Ohio Oil 09 72
International Pete lo 15
Penn Mex 22 24
Prairie Oil 535 545
Prairie Pipe , 237 240
Solar Refg 360 875
Southern Pipe 91 93
South Penn Oil 173 176
S W Penn Oil 60 62
SO Ind 88 88
S O Kansas 500 523
S O Kentucky 250 260
SONY 360 362
S O Ohio 385 395
S O Ohio pfd US 116
Swan & Pinch 30 85
Vacuum ............ .335 338
Washington 28 32
S O Nebraska 170 175
Imperial Oil .104 106
Foreign Exchange.
NEW YORK, March 1. Foreign ex
change steady: Great Britain, demand
$4.43, cables $4.44, 60-day bills on banks
$4.40; France, demand 9.19, cables
9.20;4Italy, demand 5.38, cables 6.39;
Belgium, demand 8.69, cables 8.70; Ger
man, demand 43, cables 43; Holland.
demand 38, cables 38.36; Norway, de
mand 17.15: Sweden, demand 26.60; Den
mark, demand 21.15; Switzerland, demand
19.58; Spain, demand 16.02; Greece, de
mand 4.82; Poland, demand .02; Czecho
slovakia, demand 1.74; Argentine, de
mand 37.12; Brazil, demand 13.75; Mon
treal. 88 1-18.
Cotton Seed OH Futures.
Cotton seed oil futures at New York,
furnished by Herrin & Rhodes, Inc- of
Portland:
March, 11.4411.49c: April, 11.53
11.65c; May, 11.70 11.71c; June, 11.75(g)
11.87c; July, ll.92ll.94e; August, 12
12.05c; September, 12.07 12.15c: October,
11.7111.75c. Spot, 11.40 11.51c. Sales,
19,200 barrels.
$500,000.00
TOKE POINT OYSTER COMPANY
Six Per Cent First Mortgage Sinking Fund Gold Bonds
Dated February 1, 1922 Due February 1, 1937
Sinking fund commences 1927 and continues until in sufficient amount to retire the whole issue if not
redeemed under the terms of the mortgage. Denominations of $100, $500, $1000. Interest
payable semi-annually in February and August. Principal and interest payable at
Title and Trust Co., of Portland, Ore.
The Company agrees to pay Normal Federal Income Tax insofar as may be lawful, In an amount not exceeding 2.
TITLE AND TRUST COMPANY OF PORTLAND, OREGON, TRUSTEE
EABLY VEGETABLES BEGIN TO MOVE
Shipments of Winter Supplies Are Slowly
Falling Off.
CHICAGO, March 1. Increasing move
ment of early vegetables, such as early
cabbage, celery, tomatoes and lettuce. Is
partly offsetting losses in the movement of
fruits and vegetables as a whole, accord
ing to a report today from the United
States bureau of markets. The total car
lot shipments of 11 leading lines of fruits
and vegetables throughout the country,
however, for the week ending February 25
were 800 fewer than for the corresponding
week a year ago.
Shipments of cedery show an increase of
nearly 40 cars. Lettuce shipments in
creased to 429 cars, compared with 397 the
week before. Nevertheless, California let
tuce from the Imperial valley was In strong
demand at New York at $5.50 5.75 a
crate. .
For the season to date potatoes cave
come forward to the extent of 124,077 car
loads from 18 late shipping states as
against 100,998 last season.
The movement of apples decreased more
than 200 cars from the previous week.
New York Baldwins commanded as high as
$88.50 a barrel In Chicago.
Cariot shipments or onions were nearly
50 per cent less than at this time last
year
QUOTATIONS ON DAIBY PRODUCTS
Current Prices Ruling on Batter, Cheese
nd Eggs.
SAN FRANCISCO, March 1. Butter
Extras, 39c; prime firsts, 36c; firsts,
35c.
Eggs Extras, 27c; extra pullets, 23c;
undersized. No. 1, 20 c.
Cheese California tiat lancy, Z3c: xouns
America, lancy, zoc
NEW YORK, March 1. Butter firm;
creamery higher than extras, 3839c;
creamery extras, 3Sc; firsts, '3437c;
packing stock current make No. 2, 20
20c.
Eggs firm; fresh gathered extra firsts.
3132c; firsts, 29 31c
Cheese irregular.
CHICAGO, March 1. Butter higher:
creamery extras, 87c; firsts, 3236c; sec
onds, 2931c; standards, 35c.
Eiggs higher; receipts, 16.00 cases; firsts.
2626c; ordinary firsts, 23 24c; mis
cellaneous, 25 26c.
SEATTLE, March 1. Eggs, select local
ranch, white shells, 26c; do. mixed colors,
24c; pullets, 2223o.
Butter unchanged.
Spot Coffee Market Firm.
NEW YORK,' March 1. The market for
oeffee futures was lower today under
scattered liquidation. The market closed
at a net decline of 7 to 10 points. Sales,
inoluding switches, were estimated at
about 42,000 bags. March, 8.40c: May.
The Toke Point Oyster Company is a consolidation of a majority of the oyster companies on Willapa Harbor,
Pacific County, Washington. They own and operate 1159 acres of producing oyster land, transplanting eastern
oysters to their beds and cultivating, growing and maturing them for the market, besides handling native Pacific
Coast oysters, clams, crabs and salmon.
This issue is a first mortgage upon all the property, real and personal of the company, now owned or hereafter
acquired.
The Toke Point Oyster Company has 12,000,000 eastern oysters planted and growing on its beds at Willapa Har
bor. It is believed this is the largest planting of eastern opsters now owned by any one company on the Pacific Coast.
It is intended from the proceeds of this bond issue to purchase and make larger additional plantings of eastern oysters.
After present financing these bonds will be secured by an underlying equity of more than $1,500,000.
Claude D. Starr of Starr Fruit Products Company, Portland, is President of the company, and among other di
rectors and officers are William C. Bristol, well-known Portland attorney, and Fred Eichner of the First National
Bank of Raymond, Washington."
"Toke-Point" is a copyrighted, patented name.
Sinking fund fifth to fifteenth year.
This security is an investment for savings banks permitted by law.
PRICE 9512 AND ACCRUED INTEREST
To Yield S1
TOKE POINT OYSTER COMPANY
, Suite 344 Pittock Block, Portland, Oregon
Telephone Broadway 7213
Mail coupon today for literature descriptive of this sound investment.
nniiimniHiiiniiimmiHiii
Toke Point Oyster Co.,
Suite 344 Pittock Block, Portland, Or.
Gentlemen: Please send! me literature descriptive of
investment security you are offering;
Name .........
... .
Address
. .
nillllUlilllllllllllMIHI
8.47c: July. 8.52c: September, 8.55c; Octo
ber, 8.57c; December, 8.6Sc
Spot coffee was firm, with a fair de
mand reported on the basis of 89c for
Rio 7s and 12i3c for antos s.
SAN FRANCISCO PRODUCE MARKET
Prices Current on Vegetables, Fresh Fruits,
Etc., at Bay City.
sa-nt FRANCISCO. March 1. (State di
vision of markets.) Pruit Apples, 8
4-tler. 1.40S.50: navel oranges,
S3.505.50; lemons, $45.50; grapefruit,
sai4 25: Dears, box, 1.75S2.7S.
Poultry ijroiiers, -, '.'---,. , vuus wev
... oi49" old. 1620c; hens. 2530c
ducks. 22 28c; live turkeys, 83 35c
a 3Krii44c.
Vegetables Artichokes, large crate, $14
18; carrots, sack, Jl1.2o; celery, srate,
i-iav incumbers, dozen. ii.iawj.iD: let
t.T-e crate. 12.7504.25; mushrooms, pound.
, m clot brown onions, cwU $66.50
white globe onions, 89: green onions.
tuiDi-l 50: neas. pound, 2530c; po
.2 I5c33.25; pumpkins, sack, 75c9
si rhubarb, box. $2.25 2.75; cream squash.
T,,-. si 25: Hubbard, sack, Jl.2jiijl.S0
grouts. Dound. 1213c; spinach, crate.
..i.o HO . ana rn trim RO(S)75C POUnd.
Receipts Klour, 1650 quarter sacks
wheat, 4000 centals; barley, 6519 centals
corn. 773 centals; potatoes, 6632 sacks
,.;., is, Bucks: hay. 110 tons; hides, 14J;
oranges and lemons. 400 boxes.
Metal. Market.
NEW YORK, March 1. Coppe
Dull. Last sale, February 27, 84c; re
ceipts, 4; shipments, 165; stock, 3704.
Rosin Firm. Sales. 1059: receipts, 119;
shipments, 309; stock, 72,050. Quote: B,
D, E, F, G, Hr I, 4; K, $4.30; M, $5.10;
N, $5.50; WO, $5.8?i: WW. $6.10.
Sugar Market.
NEW YORK, March 1. Raw sugar, cen.
trlfugal, 3.73c; refined, fine granulated,
5.10c.
SAN FRANCISCO, March 1. California
Hawaiian siwar. 3.63:f.
Easy
12 12 Tic
elect rolytlo spot and, nearby,
futures, 13c. fcM
rrM tt.ubv. nnt and futures. $29.37.
Iron Easier;. No. 1 northern. $18.50
19.5K stwarlv: snot. S4.TOS84.80,
ZIno Quiet: East St. lxuis delivery
spot, 4.S04.60.
Antimony Spot, $4.25. t
Dried Fruit at New York.
NEW YORK, March 1. Evaporated ep
ples Firm.
Prunes More active.
Peaches Firm.
Hops at New York.
NEW YORK, March 1. Hops Easy
states, 1921, 23 0 32c; 1920, 18 20c.
Dulutb. Unseed Market.
DTJLTJTH. March 1. Unseed on track to
arrive, $2.54 1-52.5514.
Naval Stores.
SAVANNAH, Oa., March 1.-
-Turpgntine
Assure a good yield through
future years by investing in these
Long Term County Bonds
5 Road Bonds
BAKER COUNTY
Optionally After 1929
Bonds in $1000 de
nomination. Issue a
general obligation o
the county. Semi-annual
interest
I
5i Road Bonds
TILLAMOOK CO.
Due Serially 1932-36
Bonds in $1000 de
nomination, dated Jan.
1922, are general obli
gations. Interest twice
yearly.
Prices to Yield 5
Bonds Income Tax Exempt
Savers
Select any bond you desire. Pay for It at your
convenience and we will give you full interest on
what you pay in.
LUMEEI2MENS
BROADWAY and OAK
A Selected List of
Bo fids
for March Investments
Due Yield
City of Portland 6s ... 1931 5.00
Lane County, Oregon, 5s. .1934-37 4.95'
Marion County, Or., 5js.l930 4.90
Dutch East Indies 6s.- .1947 6.40
Pac. Power & Light Co. 8s 1930 7.20
Details of Any Issue on Request
Telephone or Telegraph Order Collect
BOND DEPARTMENT OPEN 8:30 TO 5i0O
Saturdays 8:30 to 2:00
ir "A man cj
BANK
Oldest in the Northwest
WASHINGTON
at THIRD
tnmaeaiib
Federal Income
Taxes for
1921
We have available for
distribution a brief, popular
review of the law and a
Bimple illustrated analysis
of the changes affecting
income for 1921. Write for
a copy.
Kama ';.... w.k.'MM
Address :-
City v
E.H.ROLLINSGSONS
Investment Bond
BOSTON Nrw YORK CH1CACO
,V. rHANCISCU LOS ANCELKS .
411 LEVIS BVII-DIJra
Marshall 203
" PORTLAND
YIELDING TO
6.50
General Obligation Bonds of
Oregon and Washington Municipalities
Payable from ad valorem taxes levied on all taxable
property in the respective municipalities.
INCOME TAX EXEMPT
Call, phone or write for detailed descriptive circulars.
Ralph Schneeloch Company
MUNICIPAL in3RPOTI0NTINANCE
ttJMBCPMENS BUILDING
Investment Opportunities
and
Oar Twenty Payment Flan
Tbsss yMki.MiM Ml r torn Is i
Hnl whws mmm ft SMihWiil
MUhU pvMBU sxt4ic fmn& M
twvatj mlim. Thw pim wm onum
kruulM. Ym
Writ for t7-Je'.0.
Invtmtnt Sevaitima
40 Exchanf Place, Naw York
PUTS & CALLS
Ths Bafmt War to Trada"
$40
Buys T-6fcjr call en 100 shftrei Any
N. T. Stock Exchange security.
There are no mar! 3 calls, no lntret
charges and no commtnalon Is chirffM
unless the call Is closed at a profit.
Each point (I1.00) the stock: moves up
means a profit of $100 to you.
lTompt Attention to Mall Ordrs
WATSON & COMPANY
investment Rcurit1.
2 5 block Exchange Uldff..
JLos Angeles.
BONDS
U. S. D. & Trust Co.
284 Oak St.
INQUIRIES INVITED
HERRIN RHODES, Inc.
Established 1894
STOCKS, BONDS,
COTTON, GRAIN
Corraspon dents E. T HT7TTON A CO.. K,
Members all leading exenangeo
Babsoa's fimrvimm on File
Hda. aiMv lwi " XaJLofiMaa-o sua
V