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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (March 31, 1922)
TIIE MORNING OREGONIAN, FRIDAY, MARCH 31, 1923 17, W BONDS LESS ACTIVE m TRADERS TCRX TO KAILS AX1 INDUSTRIALS. Upward Movement In Prices Con tinues Mexicans Arc Strong est of Foreign Issues, Ickel Paper. ... pr d o Oil... Island Oil ... Jewel Tea . . K C Southern- " do pfd Kelly Spgfl.d. Kennecott . . . Keystone Tiro Lzcka Steei.. Lee Tire. 1.300 l.UUO 314 16 8.SOO 6,-'im ;) 2.700 'i.iob 4. son 1,200 1,700 7 00 Lehigh Valley 12,000 NEW YORK, March 30. The upward ovement of bonds made further progress . today, but trading was most active in raiiBi Industrials and utilities, government offering failing off. Many of the iow-grade western and southwestern and eastern railway iesues rose from fractions to one point. w York Central debentures showing especial strength. Manhattan Elevated and New York, Westchester & Boston 4is were strong also. Mexicans were strongest of the foreign division, the two 5 per cent issues gaining 154 and , points. British, French and other European flotations showed irregu larity and realizing for profits con-tributed to the moderate reaction in the liberty group, in whrch. nominal losses predomi nated at the olose. f'ales. par value, aggregated $13,841,000. The favorable views of business condi tions issued by the department of com merce, continued expansion of iron and steel product at higher prices and the re ported c&nceiiatfon of tax penalties by the Mexican government served to enhance quoted valuta in today's lively stock mar ket. Offsetting incidents, such as the ap proaching coal strike and a decrease in carloadlngs at principal railway terminals. exerted no adverse effect in trading cir cles wnt re bullish sentiment was upper most. Additional withdrawals of local reserves by interior banks Imparted 1L firmer tone to money rates. Call loans held at 4V4 per cent, however, and quotations for 'short en-d long-time accommodations were un changed at -4i to 4 per cent. Practically the entire list shared In the day's rise, but equipments, motors, steels and Otis again dominated the movement. Rails, shippings, copper and foo4 and chemical specialties trailed along, together with many miscellaneous issues. Foremost individual features embraced Studebaker, Baldwin, Bethlehem Steel, "A" and "B," American Can, Mexican Petroleum, Davi son Chemical, United States Rubber, Bead ing and several of the other dividend paying rails, these closing at net gains of one to four points. Sales, amounted to SM.0OO shares. Further dullness was shown by the for eign exchange market, sterling again eas ing from yesterday's rally on small offer Inge of bills. French, Belgium and Ital ian rates were steady. The German mark made further progress toward recovery svnd almost all of the far eastern remit tances strengthened. CLOSING STOCK QUOTATIONS. Furnished by the company of Portland. Stocks Sales. Adams Exp ... lOO Adv Hum ... 600 S do pfd j Agr Ciiem ... 400 , Ajax Rub ... 3,500 V Alaska Gold .. 200 i Alaska Jun .. ,-' Allied Chem . 1.S0O Allis-Chalmers. 6o0 do pfd .... . -00 Am Beet Sug. 7H Am Bosch ... 1.400 Am Can Co... 9.SO0 do pfd 7O0 Am C & Fdy.. 1,000 do pd 100 Am Cot Oil... 400 do pfd Am Drug Syn. 100 Am H fc Lcat. 1M0 do pfd 1.2O0 1 Am Ice ...... 3.4ik Ani Int Corp 4.4oo Am Linseed .. l.SiKJ do pfd ...'.. 300 Am Loco .... 6,000 do pfd 600 Am Saf Raz.. 5M Am- Ship & C. 3.000 Am Smelt .... 3,o0 do pfd 40O Am Steel Fdy. 7,700 I Am Sugar ... l.SoO do pfd loo Am fcumatra.. :;oo ...... a -I . . .J, I - Am Tob l.ooo do -B" .... l.ooo Am Wool .... 3,0uo do pfd Am W P pfd. Am Zinc 500 Anaconda .... 5.400 Assd Oil 1O0 Atchison ..... 3,tVH do pfd ;,oo All Coast Lino . S.100 Atl G & W I. . 3.700 Bald Loco ... 32,900 do pfd ..... KM) Balti & Ohio.. 19,500 do pfd ..... Reth St "B".. 17.SOO Booth Fish .. 600 B R T 6,200 Butte C & Z.. 000 Butte & Sup... 7o Burns Bros .. 2 100 Caddo Oil .... -y0 Calif Pack ... 1,!'0 Calif Pet LOOO do pfd Can Pac ..... 1.800 Cent Leath . . 3 700 Cerro de Pasco 300 Chand Motor.. lO.70 Chi A; M W... 5,-HN Chi Gt W .... BOO do pfd..... l.tioO Chili Cop .... 6,000 Chino goo C M St P... 1.0OO do pfd 3.8O0 Coco Cola ... 1,100 C & O 2,1X10 Colo P & 1 ... l,oo Colo Southern 300 Col Gas & El. 6.500 Col Graph ... 6,800 Con Gas 100 Cons Cigars .. 100 do pfd..... , . Contl Can ... 1,300 Cit Sve Bkrs Corn Prod... 4,700 do pfd.... Cosdcn Oil .. 6,500 C R I & P .. 7.500 do "A" pfd 300 do "B" pfd 200 Crucible .... 3,000 do pfd 300 Cuba Cane... 1,800 do pfd 1.9O0 Cub Am Sug.. 2,000 Tel & Hud.. Home Mines.. Dei & Lack.. Davison Chem Endi Johnson Erie do 1st pfd.. Tl Stor Batt.. Fun Players. Fd Mn & Smlt do pfd Flsk Tire Gaston Wms. Gen Cigars .. Gen Elec..... Gen Motor Gien Aiden Gen Asphalt.. Goodrich .... Goodyear .... Oranby Gt Nor Ore... do pfd..... f!r Cananea.. Gulf S Steel.. Houston Oil.. Hupp Motor. . Ills Cent .... Inspiration . . Int Ag Cp cm do pfd Interboro .... do pfd Int Callahan Int Ha rv , do pfd .... . Int Merc Mar .7.000 do pM 14. son Overbeck & Cooke High. 67 1654 '40 11 hi 64V, 47 92 39 44 48 lOJ 155 V4 117 "h'. 15 V, 70 V, 107 44 34 0714 msi 117 7 15 iW5i iia 32 Vi 121 i ISO Low. 67), 16 "39 vi 17 V, 63" 4614 92 39 43 41) '4 102 15S 117 loo 42' 33 67 11054 117 754 14 52 95 37 71 9854 32 12014 135V4 132 6, 06 14 3O0 1.300 6,800 S00 4.800 4,900 1.900 6,500 7.600 400 500 14,200 4.400 100 "266 1,100 600 100 1.2O0 300 1. 100 3.400 600 "zoo 300 12.700 300 15 5114 105 97 'j S81, M 30 111 107 40 571, 74 S 1W 18 6 '4 6 128 12 751. 52 is 7 37S, 35 4 ?? 20 17 27 23 37V4 49 6274 30 47 84 V4 4 10914 24 '62 106 3B 40 93 79T4 67 85 35 33 22 27 3i 1164 59 83 11 19 157 80 34 50 105 97 88 PI 29 JOS 107 39 06 72 17 17 isi" 10 ' 61 14' 39 "27 ' 3fl4 72 26 31 72 76 15 103 40 '46 52 35 7054 8 19 17 ' 26 23 36 48 62 29 47 83 3 109 24 'oi' 105 "36" 40 92 79 86 so 34 33 22 26 13 5 56 S3 . 11 18 154 78 "ie isslt 10 60 ' 39 '26 36 26 71 75 15 102 40 7 6 17 73 t-J 3S "7 e 96 '3 5 71 Close. 67 15 46 39 17 63 47 . 9i 39 43 47 101 10V) 116 25 3 5 1 60 106 44 33 06 110 116 7 14 63 9ol- 37 71 32 120 135 132 87 116 26 34 51 100 97 87 94 30 110 106 4U 57 . 74 7 171 -6 127 12 75 52 9014 137 37 34 71 8 19 17 3714 48 62 30 4 84 J4 - 3 109 24 60 61 20 106 114 36 40 92 79 66 84 35 33 22 116 27 116 59 S3 11 19 158 79 9 39 17 68 155 10 43 60 39 10 27 -3 72 26 71 75 15 102 40 10 3S 2 7 e 96 . 110 17 Lorillard Loew Theaters I. & N Mackay Marland Oil... Martin Parry. May Stores... Mex Pet Miami Mid States Oil Midvale Steel, il K & T W I. do pfd Mont Power.. Mont Ward. .. Mo Pac do pfd ....... M St P & S S M Nor Amn .... Nat Biscuit... Nat Enamel.. Nat Lead Nevada Con.. New Haven... Norf & West.. Nor Pac Neva Scotia St N Y Air Brake N Y Central.. 13.400 Okla Prod ref. l.loo Ontario Silver. Ontario & W.. Otis Steel Pacific Dev. . . Pac Gas & Kl. Punta Allegre. Pacific Oil. . . . Pan Amn Pet. do "B" Fenna ....... 1 1 eo Gas. . . , . . Pere Marq.... Fere Oil Fhillips Pete.. Fierce Arrow. Fierce Oil Pitts Coal.... Pitts & W Va. do Pfd Pressed St Car 400 Pullman 2.3O0 Hay Cons .... 200 Leading 15,200 Kemington ... ..... Iteplogle Steel. 800 Kt public I & S 2.5O0 do pfd ; ..... Rep Motors... 800 Royal D Oil... 12.100 Ry Steel Spg.. 800 S.xon Motors S.ars Roebuck 6,900 Shattuck. Ari 200 Shell T & 1. . . 800 Sinclair 8,200 Stand Oil Ind. 2,100 Stand Oil N J 3O0 Sloss Sheff. ... 600 Sou Pacific. ... 4,400 Sou Railway... 10,000 Stand Oil. Cal. 1.200 St L & S F... 2,800 Strom Carb... 700 Studebaker ... 75,600 Swift & Co Tenn C & C. i. 100 Texas Oil 5.500 Texas Pacific. 2.80O T P C & O. . . . 700 Tob Products. 1,000 Tran Cont Oil. 2,800 Union Oil Del. 1,300 Union Pacific. 1.500 United Alloy.. 900 United Drug.. 100 Uni Food Prod - 300 United Fruit.. 400 Union B & P.. " 200 U S C I Pipe. 700 Unl R Stores.. 900 U S Ind Alco. 3.600 U S Rubber... 4,300 do 1st pfd U S Smelting. 100 100 200 3 0O 200 800 5.70O 700 19,000 100 8.500 8.800 3.000 300 100 3.0O0 2.5O0 2,400 l',706 40O 30O 1.OO0 100 8. BOO 2.700 4,3oO 100 2O0 300 40O 3O0 lOO 1.3IM) 2O0 4. 800 6.2O0 1.000 200 600 4.000 3.000 2.300 1,800 1.500 1,000 L000 19 1 19 25 '45 29 18 BO 33 60 14S 15 116 82 25 28 117 121 27 13 34 33 34 66 17 22 64 "56 140 35 91 15 21 103 76 25 64 88 2 8 24 12 9 69 40 50 56 50 39 83 29 32 37 17 9 60 U S Steel 21,600 do pfd. Utah Coper. . .. Va Chemical do pfd Vana Steel. . . . Vivandou ..... Ws bash ...... do A pfd... do B pfd... Wells Fargo... Western Pac. . do pfd West Union . . W'house A B. . W'ouse E & M W Maryland.. White Motors. Willys-Over .. do pfd Wilson Pkg... Wis Central.. Woolworth . . . Worth Pump.. w & U hi White Oil 300 900 200 2,600 600 4,100 24,200 200 "266 lOO 300 2'.900 800 1,700 2.1O0 400 '206 100 600 1,700 300 71 124 34 76 S2 63 "7 64 88 '74 8 41 24 88 173 41 86 23 97 29 47 112 103 11 44 33 26 61 9 18 134 31 68 5 140 60 33 45 48 62 36 96 117 63 S3 39 10 30 31 20 39 54 96 68' 10 41 8 39 30 164 61 9 9 18 1 19 25 "45" 29 17 49 33 59 148 15 116 82 25 26 117 120 27 13 33 13 34 66 36 22 54 '55 137 35 90 3 5 20 102 75 25 62 87 --S 7 24 11 9 ! 40 49 55 ' 49 39 83 29 30 36 16 8 60 27 "ii"" 123 14 74 "32" , 62 . . 54 96 "73" 8 40 24 87 173 40 86 22 96 28 46 107 102 31 4S 82 25 61 9 17 133 30 68 S 139 60 33 44 46 61 36 95 117 63 35 38 10 9 29 20 39 54 96 67 . 10 39 7 38 29 " 164 60 9 8 16 46 75 19 1 19 25 56 45 29 37 49 33 60 147 15 115 82 20 28 115 121 27 13 33 18 - 34 66 16 22 64 61 56 139 35 91 34 21 103 75 25 64 88 2 s 24 11 9 6S 40 49 65 OO 39 83 29 31 3 17 8 60 27 7S 71 124 34 75 34 31 52 ' 78 7 541 98 3 73 8 40 24 81 113 40 85 22 97 4 28 47 111 1U3 11 43 32 25 61 9 17 133 31 68 5 140 60 33 44 ?j 47 62 104 36 95 117 63 35 75 38 10 9 30 39 79 19 04 96 86 67 10 40 7 - 38 39 29 16: 6114 9 9 bureau, at its recent monthly meeting, adopted resolutions reflecting the attitude of farmers generally throughout eastern Oregon- toward the war finance corpora tion, copies of which have been mailed to the senators and representatives of Oregon, at Washington. D. C. Setting forth that applications for loans, based upon require ments of the law, had been refused, the Oregon congressional delegation is urged to insist upon relief for the farmers or to act to bring about repeal of the law as useless legislation serving only to encum ber the statute books. The wheat-growing districts are declared to be seriously af fected by the attitude of the war finance corporation. , New York Bonds. New Tork bond quotations furnished by Harrin & Rhodes, Inc., Portland: Foreign government bonds Argentine 2d 7s 1923 do a I 5s 1945 Belgium 8s 1940 Bergen 8s 1945 Berne 8s ......1943 Christiania 80 ....1945 Copenhagen 5s .1944 Danish Consol 8s 1946 French Cities 6s 1934 Italy 6s A 1925 Rus Ruble 5s 1926 Swedish Govt 6s,.... 3939 U S Mex 4s ....1954 do ext 5s t ..... .1945 Uruguay ext 5s ............... Zurich 8s 1945 Railroad bonds Atch gen 4s 1995 A C L 4s 1952 do 7s 1930 B O gold 4s 1948 do con 4 s cv 1933 do ref 5s 1990 Canada Southern 5s. .......... 1962 Canadian Pacific eq 6s ..1932 Canadi-an Nal eq 7s ........... 1935 Canadian Nor 6s 1946 do 7s 1940 Central Pac 1st 4s 1949 Ches & O cv 4s 3930 do gen 4s 1992 do cv 5s 3946 do con 5s 1939 C B i U1II div 4s 1949 C & West Ind 4s 1952 C Q & W 4s 1959 C H & ft P 41 1925 do cv 4s 1833 do deb 4s 1934 do gn 4s A 1899 do cv os 2014 do g & r 4s A 2014 Chicago N W gen 4 1987 do 6s 1936 do 7s 1930 C R I & P xef 4s 3934 Colo Sou rf ex 4s 1935 do 4s 1929 Del & Hudson cv 5s 1935 do 7s 1930 D & R G cv 4s 1936 do ref Ss 1955 Erie P L 4s ....1998 Erie con 4s A 1953 Erie B , : 1953 do D 1953 Erie Pa C G 4s 1951 Grand Trunk eq 6s 1936 Great Nor 4s 1961 do 7s 1936 Gt Trunk 6s 1936 do 7a 1940 111 Cent t 5s .. ..' 1963 do ref 4s .......19o5 K C Sou ref 6s I960 Keo & Des M 1st 5s 1923 L S & M S 4s 1931 L&NTl 1930 do uni 4s 1940 M St P & S S M 6s 1946 M K & T 4s 1990 K P gen 4s 1975 do ref 5s 1923 do 1926 NYC deb 4s 1934 do con 4s 1998 do ref imp 4s 2013 do cv deb 6s 1935 do coll 7s 1930 X Y N H & H cv 6s 1948 N O Tex & Mex 5s 1935 N P P L 4s 41997 N P 6s 2047 N P Gt Nor Jt 6s 1936 o s L rtl 41 . Penn 6s do gen 4s do 4s do gen 5s . . do 7s Reading gen 4s A L 43 do 5s do 6s A .... So Ry con 5s . So Pac cv 4s . do ref 4s do sf term 4s Government Bonds. NEW TORK, March 30. Government bonds closed : U. S. 2s. reg..103tl. S. cv 4s, cou.103 do coupon. . . km fa r.ama as, reg- 87 do 4s, reg...103 do 3s, cou... 87 Bid, Liberty Bond Quotations. Liberty bond and victory note quotations at New Tork, as furnished by the Overbeck ss Cooke company of Portland: Liberty 3s .. do, 1st 4s.... do, 2d 4s.... do, 1st 4 s. . do. 2d 4 3.. do. 3d 4s.. do. 4th 4s.. Victory 4s. ... do, 3s Open. High. Low. . 98.23 98.36 98.12 , is'.sb 8'.20 88.20 , 98.60 98.60 88.44 98.32 98.32 98.24 99.54 99.54 99.40 98.3i6 98.60 98.48 100.84 100.86 100.82 1O0 82 100.01 Close. Bid. 98.16 98.36 98.20 98.44 98.30 99.42 98.62 .1929 1936 ;...1965 ., . .1960 ....1968 1930 1997 1950 1949 ....1945 . . . . 1994 ....1929 . .. .3955 1950 . 8 P ref 4s 1949 - do conv 5s ..1934 St L, & S F P L 4s A 1950 do gen 5s 1931 do 5s B 1950 I do gen 6s .1931 do adj 6s 1955 do inc 6s ..I960 SI L & S W 1st 5s 3952 do con 4s ....1932 do 1st 4s 1989 Tex Pac 1st 5s 2000 Union Pac 1st 4s 1947 do cv 4s 1927 do ref 4s 2008 do 6s 1928 Union Tank 7s . 1930 Wabash 1st 5s 1939 do 2d 5s 1939 West Pac 5s 1946 M Kt St adj 5s ?. .. do 5s Phillips Pete 7s Otis Steel 8s Third Ave adj 5s Industrials Allied Packers 6s 1939 Amn Agr Ch 7 1941 99 83 10 109 42 109 91 112 86 94 4 100 48 59 74 113 87 87 106 79 79 81 96 301 io 108 111 84 85 85 88 99 1 88 73 61 73 64 50 74 66 68 84 107 106 78 87 91 94 107 77 . 46 61 40 40 42 84 106 89 107 101 109 86 86 81 B2 108 91 101 77 62 lOO 95 87 80 86 102 106 69, 68 85 104 106 91 106 88 8S 96 107 83 04 19 49 94 , 90 88 81 86 87 70 95 84 102 78 2 78 74 76 83 91 93 85 104 103 96 86 87 -61 89 108 99 64 I Income Tax Exempt Municipal Bonds We own and offer subject to prior sale. YfId about 4.50 o 5s. . Money, Silver, Kte NEW TORK. March 30. Call money. easier; high, 4: low. 4: ruling rate. 4 ; closing hid, 4. Call loans against ac ceptances. 4. Time loans, steady; 60 days.' 4: 90 days, 4: six months. 4. Prime mercantile paper, 4. Foreign bar silver, 65c. ' Mexican dollars, 50c LONDON. March 30. Bar silver, 33 d per ounce. Money, 8 per cent. Discount rates: Short bills, 33 per cent; three months bills, 33 per cent. RESERVE RATIO IS DECREASED Loss of Six-tenths Fer Cent in Week Re ported by Federal Board. WASHINGTON. D. C, March 30. Com bined resources and liabilities of the 12 federal reserve banks at the close of busi- 9 of March 29 were reported tonight by the federal reserve board as follows: Resources Gold and gold certificates $ 322,429.000 Gold settlement fund federal reserve board 497,322,000 1947 ..1922 ...1023 ..1929 . .3929 . .1930 . .1939 ..1933 . .1923 . .1933 ..1942 . .1931 ..1932 . .1923 ..1925 ..3923 ..3924 ..1925 ..3943 ..1934 . .1931 . .3930 ..1927 . .1933 . .1931 . .3 924 . .3941 . .1952 ..1940 ..1925 , .1941 ..1930. ..1930 . .1940 . .3952 Total gold held by banks... 819,751,000 Gold with federal reserve .2,065,992.000 89,612.000 agents Gold redemption fund Total gold reserves $2,875,355,000 Legal tender notes, silver, etc..- 128,024,000 Total reserves Bills discounted Secured by United States gov ernment obligations X All other -. Bills bought in open market. . 7s. . 5s.. 7s ...3,103,379.000 242,797.000 393.155.000 102,691,000 .1941 .3931 .1930 .1923 .3950 .1931 .3951 .1944 .1951 ..1944 .1936 .1030 .1923 .1940 .1922 .1923 .3951 .1925 .1931 .1941 Total bills on hand, United States bonds and notes.. united states certificates of indebtedness One-year certificates (Pittman . act 11 other Municipal warrants .......... Total earning assets . . Bank premises ive per cent redemption fund against federal reserve bank notes Uncollected items All other resources 738,643,000 200,325,000 89,000,000 151,535,000 102,000 .tl.179, 605.000 38.339.000 7,757,000 470,449.000 16,322,000 IF YOU HAVE VEAL HOGS POULTRY TO SHIP WTt IT I ', I'S FOR OI It PRICES AD TAGS WE REMIT DAILY BLITB VALLEY PRODWT3 CO Fourth and Gliaan sts. Portland, Oregos Total resources ...... Liabilities ' 7s 'Capital paid in J , p Reserved for government fran-- chise tax Deposits Government SetOSl.OOO iviemoer DuiK reserve account. 1SJ08,782,000 .4,815. 851,000 . 103.993.000 215,398,000 1,982,000 Fancy Capons 40e PER I,R. CTwti Same Iay Shipments ArrlTe. The Savinar Co., Inc. 10O Front St.. All other 40,323.000 Total deposits , 1,803,136,000 Federal reserve notes in actual circulation 2,181,843,O00 Federal reserve bank notes In circulation, net liability 80,353 000 Deferred availability items... 409,333 000 All other liabilities 17 S13 000 Total liabilities 4, 815.851.000 Ratio of total reserve deposit and fed eral reserve note liabilities combined, 77 S per cent. WAR FINANCE BODY IS ATTACKED Farmers of Eastern Oregon Said to Bavs Been Denied Loans. HEPPNER. Or., March 30. (Special.) For several months farmers of eastern Oregon have been looking toward the war finance corporation for assistance in financ ing the growing ef the 1922 crops. ' It has become apparent to them that little relief can be expected from that source, and it is the opinion of the Morrow county farm bureau that the act is at fault or the war finance corporation is falling to function as it was Intended that it should. In view of the situation the ,ih. Portland, Or. : committee . of the Aiorrow county farm Am Sm 1st Amn Tob do Anaconda 6s A do 7s B Armour cv 7s do 4s Beaver Board 8s ... . Beth Steel 7s do. eq 7s do ref 5s Cerro de Pasco 8s.. Chile conv 6s A.... do 7s Col Graph 8s Copper Exp Ss do do Colo F & I gen 5s... Colo Ind 5s Cuban Amn Sug 8s.? Cuban Cane cv 7s ... Distillers Sec cv 5s.. DIam Match 7s... Dupont 7s Empire Gas Fuel 6s. Fisk 8s Gen Klec" deb 5s do bs Goodrich 7s Goodyear 8s ., Heinz 7s He-rshey 7s Ill Steel deb 4s... Ind Steel 5s Int Agr 5s Int Marine CT 6s Kelly Spgfld 8s Kennecott 7s ...... Lack Steel 5s ...... do 1st 5s LIbby McN L Lig & Meyers 00 7s ..... Lorillard 5s . do 7s Midvale 5s Morris & Co Proc & Gamble 7s Republic I & St 5s.. Sears Roe :s do Steel & Tub 7s Swift & Co 7s do Uni Drug gs U S Rub 1st ref 5s 194T do 7s i30 V S Steel xf 5s 1963 Va Chem 1923 Va Cat Chem 7s 1932 West Elec 6s 1922 West U T col Tr 6s 1938 West Union 6a ......1936 Wilson 3st 6s 1941 do cv 6s 3928 west Jiilec s 1025 Westinghouse 7s ........1931 Public Utilities Amn Lt & Tran 6s 1925 Amn Tel coll 4s 3929 do 5s 1946 Amn Tel 6s 1925 Bell Tel of Pa 7s 1945 B R T 5s 1945 Cal Gas unl as 3937 Cities Service 7s B 19S6 do 7s C -....1966 do 7s D 1966 Con Gas cv 7s .- 1925 Int Met 4s 1956 Int R T ref 5s 1966 Laclede Gas 7s 1930 Mont Power 5s A , ,.1943 Northwest Tel 7s 1941 Ohio Cities Gas 7s 1925 Pac Tel 5s . . . i 1937 Pac Gas 5s 1942 Souwest Tel 7s 1925 Oil Bonds Anglo Amn 7s 3925 Atlantic Ref 6s 1931 Galena S Oil 7s' 1930 Gulf Oil 7s :....1933 Humble 7s 3 823 Pan Amn 7s 1930 Mex Pet cv 8s 1938 Sinclair 7s 1925 C O Cal 7s 1931 do N Y 7s 1931 Texas Co 7s 1023 Tidewater Oil 6s 1931 Vacuum Oil 7s 1936 Curb Bonds Allied Packers 6s Am Tel & Tel 6s ...1922 Anaconda Copper 6s Anglo-Am Oil 7s Inter Rap Tran 7s So West Tel 7s ... Stand OH N T 7s 1926 Swift & Co 7s 1925 Texas Co 7s Notes. .......... ... Vacuum Oil 7s ... ............ ... 101 89 101 101 102 102 103 88 73 3 01 101 93 112 86 101 46 102 303 104 85 72 304 83 41 108 103 03 104 99 105 98 1 15 104 100 91 J 00 77 95 105 102 99 84 lOO 95 114 95 133 86 103 104 93 100 100 97 301 102 IOB 87 106 .101 97 95 lOO 96 107 95 88 306 107 105 90 96 115 107 41 91 115 91 86 109 34 60 98 95 107 99 95 88 102 103 304 301 103 101 98 103 1113 105 308 101 101 106 70 100 98 103 83 102 115 101 101 106 4.90 5.00 Oregon State Highway 4V2 1931 Duo Oct. 1, 1931. A&O. D. 1000lOO. Portland Assessment Collection 51os, 1928 Due Aug. 1, 1928. Opt. '23. F&A. D. 1000 100.82. Union County Road SVs, 1928-31 Due Jan. 15, 1928-31. J&J. D. 1000 101.28-101.79. 5.125 Gilliam County Road 54s, 1942 Due Jan. 1, 1942. J&J. D. 1000 101.55. 5.125 Morrow County Road 5V2s, 1929 Due Nov. 1, 1929. M&N. D. lo6o103.40. 5.125 Tillamook County Road 5y2s, 1939 Due Jan. 1, 1939. J&J. D. 1000102.12. 5.375 Ashland Refunding 5y2s, 1936-37 Due Jan. 1, 1936-37,' J&J. D. 5O0lO1.20-101.26. Forest Grove Funding 6s, 1929-31 "Due Feb. 1, 1920-31. F&A. D. 500102.87-103.5L Clatsop County School District No. 10 6s, 1941 Due Nov. 1, 1941. Opt. '31. M&N.. D. $500102.05. Union Water and Street 6s, 1929-35 Due Mar. 1. 1929-1935. M&S. D. lOO010L42-102.27. Beaver Drainage District, Columbia County, 6s, 1924 - Duo July 1, 1924. J&J. D. 500100. St. Helens 6s, 1931 Due May 1, 1931. M&N. D. 500100.50. Sandy Drainage District 6s, 1924 Due Dec 1, 1924. , J&D. D. 500100. Sandy Drainage' District 6s, 1926 Due Feb. 1, 1926. F&A. D. 1000 100. 5.50 5.60 5.75 6.00 6.00 6.00 6.00 Full details gladly furnished. Wire or telephone orders "collect." r Use our Partial Payment Plan Freeman, smith & CAMP CO. LUMBBRMENS BLOO.. PORTLAND f-HOK H i B' WAY STARK . fyp amount quoted is the equivalent of the foreign unit In United States funds: oountry unit. ahlc, Austria, kronen ...............-.... .0003 Belgium, francs .0848 Bulgaria, leva 00.80 Czecho-Slovakia,' kronen. . .-. . .0192 Denmark, kroner .iu England, pound sterling.... 4,3850 Finland, finmark 0210 France, francs 0905 Germany, marks ., .0033 Greece, drachmas .0447 Holland, guilders v... .3782 Hungary, kronen .................. .0018 Italy, lire oust Jugo-Slav-ia, kronen .0036 Norway, kroner 1783 Portugal, escudos ................. .0907 rtoumania, let .ifueu Serbia, dlnara 0137 Spain, pesetas .3560 Sweden, kroner 2010 Switzerland, francs .1952 China Hongkong, local currency.. .5475 Shanghai, taels 73o0 Japan, yen 4800 NEW TORK. March 30. Foreign ex change, steady. Great Britain, demand. 4.38. cables $4.37; eo-aay dims on banks. $4.34: France, demand 8.98c; ca bles 8.98c; Italy, demand 5.08c; cables 09c: Belgium, demand o.;jtc, caoies 36c; Germany, demand, .31 c, cables 31 c: Holland, demand 37.69c, cables 37.72c; ' Norway, demand, 17.70; Sweden, demand, 25.97c; Denmark, demand, 21.10c; wltzerland, demand, 19.42c: Spain, de mand, 15.50c; Greece, demand. 4.45c; Poland, demand, .02 c; Czecho-Slovakia, demand, 1.82c; Argentina, demand 35.75c; Brazir, demand, 13.70c; Montreal, 97c. Mining Stocks at Boston. C(osing mining stocks at Boston, fur nished by Overbeck & Cooke company of Portland: Bid. Arizona Commercial 9 Adventure . 60 A H Meek HO Algomah 20 Allouez 26 Arcadian 2 Bingham Mines .............. 33 Cal & Arizona 53 Calumet & Hecla 279 New Corn 37 Centennial 10 Cop-per Range 43 Davis Daiy 7 Daly West 2 East Butte 10 Franklin Mining 1 Hancock 2 Helvetia 1 Indiana . . . no Island Creek Keewanaw Kerr Lake Lake Copper ........ La Salle Michigan Mohawk May Old Colony Mason Valley Nipissing Old Dominion Copper Osceola Mining Obijawa . . . . ,. Quincy Mining I?!t? Royalle ......... South Lake . Uni Shoe Men. do pfd South-Utah Superior Copper Trinity Copper- : . 2 Tuolumne 65 Utah Metals 1 Utah Con 1 U S Mining 46 do pfd 45 Utah Apex 8 Ventura 22 Victoria , 1 Winona 80 Wolverine 11 Wyandott 30 102 1 3 2 1 1 58 4 1 6 24 34 1 43 23 44 43 26 3 2 Ask 8 62 61- 50 ' 27 2 33 59 281 17 12 44 7, 2 10 1 3 2 -6(5 103 1 3 3 59 5 . 8 25 35 2 44 23 44 43 26 .1 3 2 70 1 47 45 3 22 1 40 12 40 Standard Oil Stocks. Standard Oil quotations furnished by Overbeck & Cooke company of Portland: Bid. Asked. Anglo 17 17 Borne scrysmer , 300 370 Buckeye 94 95 cneesebrougn 190 ia do preferred 110 313 Continental 130 133 Crescent 83 33 cumDenand 140 loo Eureka 93 95 Galena common 46 48 do, old preferred. HO 314 do new preferred 30O 105 Illinois Pipe 174 177 Indiana Pipe 100 104 National Transit 27 28 New York Transit .172 176 Northern Pipe ......10(1 108 Ohio Oil '.270 271 International Pete 15 18 Penn Mex 26 27 prairie oil 5.10 . 565 Prairie Pipe 230 235 Solar Refining 340 360 Southern Pipe '. 97 99 South Penn Oil 180 184 S. W. Penn Oil 60 63 Standard Oil of Indiana ...... 87 88 Standard Oil of Kansas 540 660 Standard Oil of Kentucky ...475 490 do (new) 76 78 Standard Oil of New Tork ...371 875 Standard Oil of Ohio 390 400 do preferred 115 116 Swan & Finch 35 45 Vacuum ......350 355 Washington 28 32 Standard Oil of Nebraska ....165- 3 72 Imperial Oil 99 101 Stock Exchange Will Close. NEW TORK, March 30. The New Tork stock exchange will suspend operations on Good Friday, it was announced today. Most other local exchanges will also ob-; serve that day. Bid. Foreign Exchange: Foreign exchange rates- at the close of business yesterday, furnished by North western National bank of Portland. The Invest WisefuDy When you buy fuel, buy heat ; not ashes. Gasco Briquets are All heat and No Ash. Phone Main 6500 Or Automatic 562-74. oKI The Northern Ohio Traction & Light Co. General and Refunding Mortgage 6 Bonds Due 1047 this company operates a suc cessful and growing electric light and power business and a comprehensive system of city ind jnterurban railways in the important Cleveland Akron Canton industrial section of Ohio. Prices yielding about 6.30 Circular on request THE NATIONAL CITY COMPANY Offices in more than 50 cities Yeon Bldg;. Portland. Main 6072. UR OFFERING for APRIL FIRST INVESTMENT BOTH the quality and quantity of United States and Canadian Municipal and Government bonds offered by the Morris Brothers Corporation represent the position occupied by this house in the northwest investment market. DEFAULT IN Morris Brothers." In Over 27 Years of Business THERE HAS NEVER BEEN A INTEREST OR PRINCIPAL of Any Municipal Bond Sold by We offer subject to prior sale and change in price -Exempt From Federal Income Tax United States Municipal Bonds- 10,000 7,000 16,000 9,000 6,000 22,000 19,000 2,000 2,000 100 'Oregon, Veterans' Aid 0regon, Veterans' Aid 4Va Oregon, Veterans' Aid 4 Oregon, Highway '. 5 Oregon. Highway 5 'Oregon, Highway 5, Oregon, Highway 6 "FrineviUe, Oregon, improvement Newdale, Idaho, Water ' 6 SBakersfield. California 7 3.100 STillamook County. Or.. Port of Bay City 6 3,100 tTillamook County, Or., Port of Bay City 6 3.300 tSTillamook County. Or., Port of Bay City 6 4,000 4,000 4,000 4,000 1,000 1,000 1,000 8,000 8,000 8,000 8,000 8,000 3,300 3,500 1,700 1,800 1,800 500 500 500 500 1,000 1,000 1,000 1,000 1,000 600 7,000 36,000 1,500 1,500 4,300 4,300 4,300 4,300 4,300 4,300 4,300 '4,100 3,000 2,500 3,000 2,500 3,500 3,500 3,500 1 3,500 500 1,524 500 400 100 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,500 fBozeman, Montana 6 SBozeman, Montana - o Bozeman, Montana 6 Bozeman, Montana 6 Buhl, Idaho, Sewer No. 3 7 Buhl, Idaho, Sewer No. 3 7 Buhl, Idaho, Sewer No. 3 7 fCasper, Wyoming 6 fCasper, Wyoming 6 fCasper, Wyoming 6 fCasper, Wyoming 6 fCasper, Wyoming 6 Cosmopolis, Washington 7 Cosmopolis, Washington 7 Cosmopolis, Washington 7 fCosmopolis, Washington 7 Cosmopolis, Washington 7 f Harney County, Oregon, S. D. No. 4. . . . 6 f Harney County, Oregon, S. D. No. 4. . . 6 fHarney County, Oregon, S. D. No. 4 . . ... 6 f Harney County, Oregon, S. D. No. 4. . .. 6 fHarney County, Oregon, S. D. No. 4.... 6 fHarney County, Oregon, S. D. No. 4. ... . fHarney County, Oregon, S. D. No. 4. . . . 6 IfHoquiam, Washington 7 TIHoquiam, Washington . 7 IfHoquiam, Washington 7 Kelso, Washington, City of, Water . 6 Lava Springs, Idaho, Water 6 f North Bend, Oregon 6 fPalouse, Washington 5 Port Orchard, Washington 7 Port Orchard, Washington 7 Port Orchard, Washington 7 , Port Orchard, Washington 7 Port Orchard, Washington 7 Port Orchard, Washington 7 , Port Orchard, Washington 7 Port Orchard, Washington 7 Pcrt Orchard, Washington 7 f Post Falls. Idaho, Water 6 f fRenton, Washington, Improvement . . . f Renton, Washington, Improvement . . . fRenton, Washington, Improvement ... fRenton, Washington, Improvement ... fRenton, Washington, Improvement ... fRenton, Washington, Improvement ... fSRenton. Washington, Improvement ... fRenton, Washington, Improvement 8 8 8 8 8 8 8 8 f Roundup, Montana 6 6 6 7 6 6 6 6 6 6 6 6 6 6 6 6 TfRoundup, Montana... fStaniield, Oregon f.. TIToppenish, Washington Idaho Falls, Idaho Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House Wahkiakum County, Wash., Court House f Wahkiakum County, Wash., Court House A&O A&O A&O A&O A&O A&O A&O A&O J&J J&J J&J J&J J&J Jan. Jan. Jan. Jan. F&A F&A F&A J&D J&D J&D J&D J&D Jan. Jan. Jan. Jan. Jan. F&A F&A F&A F&A F&A F&A F&A Jan. Jan. Jan. A&O J&J J&J M&S Aug. Aug. Aug. Aug. Aug. Aug. Aug. Aug. Aug. J&J Sept. Sept. Sept. Sept. Sept. Sept. Sept. Sept. Jan. Jan. M&N, Aug. " A&0 April April April April . April April April April - April April April 1941-48 1938-40 1932-37 1941-46 1938-40 1932-35 1928-29 1937 1939 1929 1925 1926 1927 1924- 41 1925- 41 1926- 41 1927- 41 1926- 29 1927- 29 1928- 29 1923- 31 1924- 31 1925- 31 1926- 31 1927- 31 1923- 27 1924- 27 1925- 27 1926- 27 1927 1932 1933 1934 1935 1936 1937 1938 1927- 34 1928- 34 1930- 34 1935 1931- 41 1927 1928-32 1922- 30 1923- 30 1924- 30 1925- 30 1926- 30 1927- 30 1928- 30 1929- 30 1930 1932- 42 1923- 30 1924- 30 1925- 30 1926- 30 1927- 30 '1928-30 1929-30 1930 1927-30 1927-30 1924-30 1932 1927-30 1932 1933 1934 1935 1936 1937 1938 1939 1940 1941 1942 To Yield To Yield 100.00 To Yield To Yield To Yield To Yield 95.44 94.98 100.00 . 100.00 100.00 100.00 98.16 97.34 96.56 95.84 100.00 100.00 100.00 98.90 98.02 97.21 96.44 95.73 100.00 100.00 100.00 100.00 100.00 101.88 102.02 102.15 102.27 102.38 102.49 102.59 100.00 100.00 100.00 100.00 100.00 100.00 96.80 100.00 100.00 100.00 100.00 .100.00 100.00 100. 00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 95.84 95.84 100.00 100.00 96.20 105.78 106.21 106.62 107.00 107.37 107.72 108.05 108.37 108.67 108.95 109.22 4.35 4.40 4.50 4.35 4.40 4.50 4.60 6.10 6.60 7.00 6.00 6.00 6.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 5.75 5.75 5.75 5.75 5.75 5.75 5.75 7.00 7.00 7.00 6.00 6.00 6.00 6.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 7.00 6.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 8.00 7.00 7.00 6.00 7.00 7.00 5.25 5.25 5.25 6.25 5.25 5.25 5.25 5.25 5.25 6.25 6.25 Canadian Government and Municipal Bonds 5,000 Alberta, Province of 20,000 'Alberta, Province of 5,000 British Columbia, Province of...... 3,000 Calgary, City of 14,000 fCoquitlam, B. C, Port of 10,000 Edmonton, City of 6,800 Grand Trunk Pacific : 5,000 'Greater Winnipeg, Water District. . . 9,000 'Greater Winnipeg, Water District. . . 27,000 Lethbridge, City of . 1,946.66 Lethbridge, City of 35.526 Lethbridge, City of ' 'Manitoba, Province ot to Manitoba, Province of 5,000 .5,000 5,000 4,000 25,000 32,000 4,000 . 5,000 ' 2,000 15,000 10,000 5,000 6,000 2,000 1,000 5,000 4,000 10,000 30,000 17,000 3,000 10,000 Nova Scotia, Province of 'Ontario, Province of 'Regina, City of 'Regina, City of ' 'Regina, City of 'Saskatchewan. Province of 'Saskatchewan, Province of 5 Saskatchewan, Province of Victoria, B. C, City of 4Yi Yorkton, Saskatchewan, Town of. . . . . 5 J&J 1947 102.00 5.35 6 J&D 1941 102.02 5.50 6 F&A 1926 100.00 6.00 7 J&D 1928 103.69 6.30 7 J&D 1941 100.00 ' 7.00 6 F&A 1924 98.16 7.00 4 A&O 1955 60.63 6.15 6 J&J 1923 99.00 7.00 6 F&A 1923 99.00 7.00 5 J&J 1945 86.00 6.15 S F&A 1923 97.20 7.00 5 F&A 1943 85.69 6.20 6 F&A 1925 100.00 6.00 6 J&J 1925 100.00 6.00 6 A&O 1946 107.50 5.45 b M&N 1930 98.25 5.75 6 F&A 1927 100.42 6.40 J&J 1932 100.00 5.50 6 J&J 1944 94.19 6.50 6 M&N 1925 100.25 6.95 6 F&A 1928 102.00 5.60 6 M&S 1943 107.00 5.45 5 J&J 1937 101.50 5.40 6Vi A&O 1936 102.84 6.20 6Y2 J&J 1928 101.05 6.30 5 J&J 1929 92.32 6.30 6 J&J 1938 106.50 5.40 hYt M&N 1946 102.00 5.35 5 J&D 1931 96.19 5.50 5V& J&J 1952 93.08 6.00 6 J&J 1942 98.85 6.10 AVs M&S 1953 87.81 5.30 4Va J&J 1923 96.50 7.00 7 J&J 1926 100.69 6.80 Denotes flOO Denomination Denotes $200 Denomination fDenotes $500 Denomination Denotes $1000 Denomination Coupons from Bonds Purchased at Morris Brothers Corporation Cashed Without Collection Charges. TELEPHONE OR TELEGRAPH ORDERS AT OUR EXPENSE MORRIS BROTHERS CORPORATION Morris Building PORTLAND, OREGON 309-311 Stark Street Broadway 2151 ' Safe Deposit Vaults Buenos Aires Bonds of 1909 One of the "Choicest JAnt9 listed on the London Stock Exchange. Readily marketable here. A sound Investment yielding- an exceptional income with prospect of large advance In value. f Special circular on reioet Call, write or, phone Main 41f5 G.E.MILLEH & COMPANY 2nd floor NORTHWESTERN1 BANK BLDO. PORTLAND Results in Fracture Students of pavement will be interested in the following quotation from a statement by C. F. Jensen, county surveyor of Fresno county, California: "The rigid type can not readily absorb and resist the internal forces set up by expansion and contraction; neither can it readily absorb the danger ous 'element of Impact, unless the sub grade is uniform and unyielding, or unless the pavement is heavily reinforced against inequalities of subgrade. When the forces, either -internal or external, go beyond the structural limitations, the result is a frac ture, leading gradually to disintegration under Impact." Fracture and premature decay may be avoided by using a resilient pavement like Warrenite-Bitullthic, which is largely used In Fresno county. Adv. t ' : . Phone your want ada to the Ore gonian. Main; 7070.- Automatic 660-95. HERRIN & RHODES, Inc. Established 18. STOCKS, BONDS, COTTON, GRAIN Correspondents B. F. HUTTON CO.. N. T. Members all leading exebsngsa. Babson'a Service on File. Bdwy. 4720. 201 Hallway Exchange Bids. Cascara Bark Hides. Wool. Pelts. Mohair. Y" Are in the Market. Write for Prices and Shipping Tega. PORTLAXD HIDE WOOL rn 107 Inlon Ave. N Portland, or. Phone your want ads to the Ore- sTonian. Main 7070. Automatic 60-95. OREGON HUMANE SOCIETY Investigates all case of alleged cruelty to animals. Office", room 150 courthouse, rhone Main 378 from 8 A. M. to 6 P. M. The nociety has full chant of the city pound at Its home, 635 Columbia boulevard. Phone any time. Wood lawn 74. Dogs for sale. Horse am bulance for sick or disabled horses. Small animals painlessly electrocuted where necesaary and stray animals cared for. All dead animals, covvi, horses, etc., picked up.