Morning Oregonian., April 04, 1922, Page 21, Image 21

21
THE MORXXXG OREGONIAX, TUESDAY, APRIL 4, 1922
NORTHWEST'S PLAN
OFiiieiiwii
Mid-Western and Southwest
ern States Adopt Method.
GEORGE C. JEWETT BACK
General Jlanager of Northwest
Wheat Growers, Associated,
Discusses Conditions.,
Georee C. Jewett, general manager ol
th Northwest Wheat Ci rowers. Associated,
who has just returned from a month's trip
through the. eastern srain srowlng sec
tions, reports that the pacific northwestern
plan of co-operative wheat marketing ii
finding favor in the mtddla western and
southwestern states. Stats Associations,
Blmllar to those operating in Oregon,
Washington, Idaho and Montana ere now
being perfected in North and South Da
kota, Minnesota, Kansas, Nebraska, Okla
homa, and Texas.
Big Acreage Represented.
"All in all. nearly 100,000,000 bushels of
wheat," said Mr. Jewett, "are representee
In the membership now being obtained for
the state groups. The plans contemplate
the immediate establishment of zones ol
three or four states each, such as has
fcf en formed in the Pacific northwest."
Mr. Jewett was at the head of a com
mittee that planned the federation of these
wheat marketing bodies. Meetings were
held In Kansas City and Chicago and s
national organization was arranged foi
which will function as soon as the middl
western states are ready to Bell thelt
wheat. Others on the committee with
Mr. Jewett were W. I. X,andson, lecturer
for the national Farmers' Union, and D. G.
Murley, president of the Oklahoma wheat
Growers' association. Aaron sapiro. legal
adviser for the Northwest wheat Growers,
Associated, and instrumental In the es
tablishment of the Pacific states' organ)
aation, acted as adviser for the committee
which planned the new national federa
tion. Affiliation Is Denied.
The Pacific states organizations are not
concerned in the difficulties of the United
States Grain Growers, the grain-marketing
association of Chicago, which recently held
ar, annual convention which ended in the
secession of representatives of Illinois,
Oklahoma and other states, according to
Mr. Jewett.
"The wheat-marketing associations on
tbe coast never have had any official
connection with the United States grow
ers," said Mr. Jewett. ' V. H. Smith of
Wasco, Or., and myself were appointed
last year as temporary members of the
board of directors of the Chicago associa
tion, but our terms automatically expired
some time ago when the Northwest Wheat
Growers Associated failed to become asso
ciated with the United States Growers.
We have always been anxious for the or
ganization to succeed, but otherwise than
that of friendly relations we have no con
cern with the developments in Chicago."
Meetings of the board of directors of
. the Oregon Co-operative Grain Growers
and the board of trustees of the Northwes;
Wheat Growers Associated were held yes
terday in the headquarters in the Ex
change building. The Northwest Asso
ciated is the selling agent for the Oregon,
Washington, Idaho and Montana state
associations. The boards considered the
enlargement of the European selling
agency and ratified the action establishing
a sales office in Minneapolis. The Oregon
association Is planning -for membership
work in the late spring.
3;!0
175
387
240
203
211
172
2070
2 calves..
2 calves..
1 calf
7 calves. .
13 calves. .
2 calves., .
13 calves. .
5 calves. .
H calves.. .
30 calves..
4 calves
2 calves.. ,
10 calves. . .
5 calves
1 bull.
1 bull 1020
4 bulls 1435
1 bull..
2 bulls.
2 bulls.
H bulls.
1 bull..
3 bulls.
1 bull 1590
1 bull 15D0
3 bulls 703
2 bulls.... 15H0
1 bull 1400
1 bull 2100
2 bulls. . . .1310
1 bull 1400
16 mixed..
3 mixed . .
14 mixed . .
6 mixed . .
5 mixed . .
2 mixed..
2 hogs
100 9.50129 steers. . .1076
120 9.7S30 steers. . . 9S2
140 10.00130 steers. . .1137
142 10.00124 steers. . . 9i5
5.00 21 steers... 1080
7.00 3 cows. . . . 803
6.50 4 cows.... 770
9.00 3 calves... 220
8.00113 mixed. .. 624
9.5031 mixed. . . 774
9.001 6 lambs. . .
3.501 1 lamb. .. .
165 10.00116 lambs. . .
375 5.00111 lambs. .
4.15I101 lambs..
4.001 2 ewes
4,351 5 ewes. ...
4.501 2 ewes. . .
4.251 1 ewe
4.5011 yearlings
4.001 3 wethers
7.60
8.00
8.35
7.25
7.25
2.50
6.50
6.00
4.50
6.00
..1570
. .3493
..1890
. .1113
..1610
.1440
800
653
457
410
430
630
55 10.00
70 11.50
70 10.00
83 12.50
71 11.50
60 6.00
106 8.00
95 8.00
100 8.00
130 10.00
180 9.00
6 00
5.50
5.50
6.00
11.50
8.25
6.00
7.00
9.50
11.60
10.00
11.75
11.50
6.00
8.25
8.25
11.00
10.00
11.00
11.50
11.50
Union
160
100
150
150
181
406
530
CUTTLE MARKET WEAKER
STEERS DOWN QUARTER EX
CEPT OX TOP GRADE. "
Hogs Also 25 to 5 0 Cents Ixwer
Than Iiast Week Sheep
and Lambs Steady.
Receipts at the stockyards over Sun
day totaled 111 loads, of which 22 loads
of cattle and hogs went through, among
the latter being eight loads of hogs from
Kansas and Colorado.
Both the cattle and hog markets were
weak locally. Steers sold about a quar
ter lower, except on choice grades. A
lower range was also quotd on bulls.
The hog market averaged 2550 cents
tinder the range that prevailed at the
close of last week.
Sheep and lambs were steady and un
changed. Receipts were 2041 cattle, 146 calves,
&7S5 hogs and 345 sheep.
The days sales were as follows:
Wt. Pricel Wt. Price.
27 steers. ..1125 $7.00,57 hogs.... 186 11.23
29 steers. . .1033 7.151 2 hogs 140 11.25
6 steers... 803 B.S5I 1 hog 290 10.25
2 steers... 65 4.50 7 hogs 277 10.85
steers... 77 6.001 2 hogs. . . . 815 10.23
5 steers... 922 K.50 6 hogs.... 101 11.25
25 steers.. .1123 6.60 1 1 hogs. .. . 293 8.50
J9steers... 609 5.35 69 hogs. .. . 18 11.75
4 steers... 1372 6.00i27 hogs 120 11.25
2 steers... 870 6.751 4 hogs. .. . 227 31.75
13eteers... 976 6.75174 hogs 1 75 11.25
23 steers... 927 6.50113 hogs. .. . 215 10.50
Ssteers... 916 7. OO! 2 hogs 335 9.25
18 steers. ..3003 7.251 6hgs.... 256 10.75
10 steers... 1021 7. 7.M2S hogs 3 75 11.25
23 steers... 1033 7.751 7 hogs 172 11.25
3 steers... 953 5.00 1 hog 140 9.25
15 steers. . .1020 6.50155 hogs J 93 11.35
2 steers... 830 6.001 1 hog 490 6.00
11 steers... 762 6.75lt hogs 364 31.00
25 steers. ..3 305 7.501 6 hogs 300 31.25
26 steers. . .1131 6.25J24 hogs 177 11.25
28 steers 905 H.Wl 1 hog 310 8.70
2 steers... 760 5.50!10 hogs . 288 11.00
JO steers. . . 764 6.10174 hogs. .. . 1S5 31.50
20steers... 905 7J0 13 lrogs. . . . 126 11.00
2 steers... 885 8.75152 hogs. .. . 175 It. 75
2 steers... 920 6.25I7S hogs 3S0 11.25
6steers... 950 6.00 3 hog 140 11.50
22 steers... 994 6 75 1 hog 2S0 10.75
5 steers. . .1102 5.501 1 hog 370 7.25
4cows.... P80 5.751 2 hogs.... 123 11. no
7 cows 755 3.50.3.1 hog 130 11.25
14 cows. .. .li37 5.501 4 hoK3.... 3S0 9.00
2 cows.... S25 5..5o 3 hog 470 7.25
8 cows 1020 4.rml7hogs 107 31.25
12 con s. .. .30(15 r.5rtr 2 hegs. . . . 3 25 31.25
2 cows 6S.5 5.001 1 hog 120 3 1.25
Scows 3090 5.50121 hogs. .. . 110 11.25
2 cows 1128 6.0012 hogs 313 11.25
8 COWS. ...1182 6.00! 1 hog 190 31.25
Scows 3342 fl 00 35 hogs 335 11.25
B cows 90S 6.25130 hogs JOS 11.25
Scows 853 4 50(15 hOfiK 315 31.25
19 cots 945 5 75i'4l! hogs. .. . 310 31.00
ftcows.... 772 4.5o; 1 hog 440 6.00
2 cows . 505 5.O0I 1 hog 240 9.00
2 cows 85 5.25 1 hog 250 30.75
4 cows. . . . 922 4.751 1 hog 2S0 R.75
Scows.,.. 883 5 50 1 hog 440 8.00
Scows IO8O 3.501 7 hogs 171 11.50
Scows S2 3.50I 2 hogs 193 11.35
24 cows 1114 . 6.501 2 hogs. . . . 420 9 25
5 cows 1H38 4.25118 hogs . ISO 11.35
2 cows. ... 1255 4.50141 lamhs. . . 81 33.00
4 cows. .. .1175 5.00 10 lambs. . . 28 34.00
Scows. 836 4.50'5fl Iambs. . . 28 14 00
Scows.... 9o0 5.00 9 lamhs... 50 33 00
4 cows..... f72 3 0O 3 lambs... 103 11 00
6 cows.... 150 6. 0Ol 6 ewes. .. . 133 8.00
5 cows.... 92 5.501 1 ewe 170 5 50
Scows 1090 6.25 94 ewes 117 8 00
33 cows.... 971 6.0o!1 mixed. . . ITS 5.50
5 cows 922 6 25' 1 bull 2O0 6 00
22 cows 1075 5.50147 steers. . .1044 S.OO
3 calf 280 3. 00'25 steers. . . 955 7 65
Scalves... 340 3 0.0O.21 steers. . . 893 7.75
1 caif , 110 8.50125 steers. . .1165 8.25
2calves... 380 9.00 21 steers. . .1 173 7.10
1 calf 240 6.00124 steers. . .10-, 7 50
in calves. . 164 9. 50130 steers .. . 6 00
4.101 1 buck
4.501 1 buck
4.601 1 buck.
4.251 1 buck.
4.25192 hogs.
4. 501 3 hogs.
3 0OI 1 hog. .
3.501 1 hog 460
4.501 1 hog 290
4 00124 hoes ISO
5.73.' 1 hog 320
5.25152 hogs.... 183
4.501 3 hogs.... 210
6.00 1 hog 580
5.001 3 hogs.... 406
4.75113 hogs. . . . 367
265 11.251 2 hogs 235
1 hog 200 9.73! 1 hog 220
6 nogs.... 241 11.251 3 hogs.... ou
3 hogs.... 396 8.25195 hogs.... 154
3 hogs 263 10.251 1 hog 220
Prices quoted at the Portland
stockyards were as follows:
Cattle Price
Choice steers S 7.80(8) 8.25
Medium to good steers 6.50 7.50
Fair to medium steers 6.00 6.50
Common to fair steers 5.00 6.00
Choice feeders 5.00OT e.uu
Pair to good feeders 4.50 6.50
Medium to good cows, heifers. 5.25 & 6.00
Fair to medium cows, heifers. 4.50 6.25
Common cows 3.50 4.50
Canners 2.00 3.50
Bulls 3.00 4.50
Choice dairy calves 9.5010.00
Prime light calves 9.00 9.50
Medium to light calves 6.50 9.00
Heavy calves ... 4.500 6.00
Hoes-
Prime light 11.2511.75
Smooth heavy. 200 to 300 lbs. 10.50w11.ou
Smooth heavy, 300 lbs. UP .... 9.50(910.50
Koueh hftavv s.uukp w.za
Fat igs 11.00 11.25
Feeder pigs 11.5011.75
Stags, subject to dockage S.00 7.25
Sheep
East-of-mountaln lambs 32.0014.00
Best valley lambs i.t)ui3.uu
Fair to good 10.0011.00
Cull lambs 6.00 8.00
Eastern Oregon feeders 9.0010.oo
Light yearlings 10.0010.00
Heavy yearlings 9.00010. 00
Light wethers 9.5010.00
Heavy wethers 9.O0 9.50
Ewes S.OO 8.00
Chicago livestock Market.
CHICAGO, April 3. (United States Bu
reau of Markets.) Cattle Receipts. 17.
000; slow; beef steers and she stock steady
to strong; early top beef steers, $8.90; bulk,
7.258.40; choice steers scarce; bulls and
veal calves steady; early sales, vealers,
$8.60 down: mostly around $8; bulk fat
she stock, ?5.156.75; bulk bologna bulls.
$4.25 4.35; stockers and feeders, strons
to higher.
Hogs Receipts, 44,000; fairly active;
opened steady to 10c higher; uneven later;
lights strong; others mostly steady to 10c
lower than Saturday's average; top, $10.50:
bulk, $9.9010.40; pigs scarce; about
Sheep Receipts, 19,000; fat lambs open
ing strong to 25c higher; tat sheep strong;
good strong weight wooled lambs early,
$15.50; shorn lamb top early, $14; good
122-pound wooled ewes, $10; few head 57
poucd new crop native spring lambs, $19.
Kansas City Livestock Market.
KANSAS CITY, Mo.. April 3. (United
States Bureau of Markets.) Cattle Re
ceipts, 7800; beef steers and fat she stock
steady to 25c higher; mostly strong to 15c
higher; mixed yearlings, $8: good heifers,
C.507; choice cows, $66.2o; plain
grades, $4.255; calves, 2o50c higher;
better grades vealers, $S9; many 250 to
350-pound calves, $6.757.60; stockers and
feeders strong to 25c higher; choice feed
ers, $7.55; good stockers mostly $6.50
7: other classes steady: canners mostly
$2.753: cutters, $44.25; plain to good
bulls, $2.754.50.
Hogs Receipts, 9000; active, steady to
strong; spots 10c higher than last week's
Close; bulk shipping hogs, $1010.05; top,
$10.10: 20O 250-pounders mostly to pack
ers, $9.9010; bulk of sales, $9.5010;
throw-out sows mostly around $8.75; stock
pr.gs, 1015o higher; best kind up to $10.
Sheep Receipts, 11,000; sheep strong; 1
shorn Texas wethers, $99.50; light
wooled yearlings, $14; lambs generally 30
35c higher; top, $lo.40; most Colorado
$15 and above.
Omaha livestock Market.
OMAHA. AdHI 3. (United States bureau
of markets.) Hogs Receipts, 6000; most
ly- erronger- tj-le ghen -bui i(w-to im
pound butchers, $9.709.80; top, $9.80:
bulk 215 to 825-pound butchers, $9.45
fl.70; narking grades. $8.25(99.25.
Cattle Receipts, avoo; oeei steers steaay
tn iRn hither: she stock 10c to 25c higher
hulls and veals about steaay; stockers ana
feeders steady to strong.
Sheep Receipts, 5500; lambs, 15c to 25o
higher; top, S15.E5; best clippea lamps,
$12.75; sheep and feeders steady; ewe top,
$9.50; shearing lambs, $14.1014.2o.
Seattle livestock Market.
RRATTT.H. Anril 3. Hogs weaker; re
ceipts. 1228: prime, Sll11.50; smooth
her.vies. t8.258: Pigs, $1010.50.
Cattle Weaker; receipts, 473; prime
steers. $7.50 10: -medium to choice, $7
7 50; common to good, $67; best cows and
hi iters, $6 6.50; medium to choice, $4.50
d6.25: common to good, $44.50: can
ners, $1.5O2.50; light calves, $9 12;
medium calves, $89; heavy calves, $78;
bulls, $4 5.
STOCKS GO DESPITE
UNFAVORABLE SIGNS
Day One of Activity in New
York Market.,
OILS AND MOTORS STRONG
Business News Notes.
LIGHT HENS
' " 20c Per Lb.
Net, Portland, Guaranteed.
Immediate Shipments. Checks by Re
turn .Mail.
The Savinar Co., Inc.
I0O Front St., Portland, Or.
ARE YOU LOOKING FOR A DE
PENDABLE produce: UGA1UBI
Veal Butter
Pork Cheese
Poultry Ecrffs
Honey Any Product
Ask for latent method used to
prepare anintnents for higher prices.
H 1 11 Y A CO.
IS Front SU, Portland, Or.
PHILADELPHIA, April 3. (Special.)
Cotton piece-goods wholesalers report busi
ness a little quiet, but say that many ele
ments influence the situation and that
with adjustment of these their business
will feel a stimulating effect. The coal
strike and freight rates are causing re
tailers to hesitate. The New Kngland
strike has little effect on the market. At
tention is called to the fact that retailers
bought cotton goods liberally last year,
when prices were lower than for some
time. They are arobably able to get along
with what remains of those purchases
for a while longer and will continue to
wait, hoping for prices that will compare
favorably with those of six months ago.
Sales are light.
Dealers in old gold, silver, platinum and
precious stones report that business for
the first three months of this year is about
the same as last year. The supply is
normal. These goods come in a large
measure from the settlement of estates.
The demand from .dentists is fair. The
demand from Jewelers has been steady,
but is seasonably quiet. The price of silver
has dropped so much that many who
might sell old Bilverware and buy new
merchandise are waiting for a better mar
ket. Platinum, which sold for $185 an
ounce in wartime, is now down to $90,
To demonstrate how severe German and
Japanese competition is in some lines a
stationer tells of a small pencil sharpener
which ho sells for 10 cents retail. He says
the same article made in this country
would have to be marked 25 cents to af
ford profit. Pencils are another commod
ity in which competition is strong. Al
though the quantity of goods sold is in
creasing somewhat, sales still are com
paratively small. One stationer asserts
he is doing much more business than a
year ago, but that he has to use plenty of
salesmanship to get the desired results.
Prices in the last year have declined, on
the average, 25 per cent.
Revision of the fire-insurance rates Is
anticipated by local fire underwriters.
Losses have been so heavy that most com
panies writing this insurance are losing
money, they say. Rates and adjustment
methods must be changed to meet pres
ent conditions, is the belief. A sentiment
prevails that much good can come from
revised methods and a closer check on
fire-prevention methods.
Dyes are moving sluggishly, say local
sales offices. The variety demand is
spotty. Foreign products are appearing in
some quarters and are selling cheap.
Coupled with the slowing down of the
market a hesitancy Is apparent, due to
the awaited action on the tariff question.
Prices are low and fluctuating.
(Copyright by Public Ledger Company.)
Sugar Market.
NEW YORK, April 3. Raw sugar, cen
trifugal, 3.89c; refined, fine granulated,
5.25 a 5.50c
Steels Confidently Bought at New
High Iievel tor Year Rail Is
snes Also Show Gains.
BY MONITOR.
(Copyright by the Public Ledger Company.
ruDiisnea by Arrangement.)
NtEW YORK, April 3. (Special.)
.Broad and active trading conditions
marked the epenine of the new week and
the first real day of the coal strike, and
the prospect of some unfavorable annual
reports, particularly on the operations of
steel companies, failed to exercise a 1
strictive effect on the buying:. The vol
ume of transactions approximated a mil
lion and a quarter shares and the ten
dency generally wea upward.
The disposition of the market to ignore
unfavorable factors undoubtedly is due to
the expectation of general improvement
which wll'l accentuate still further the
really encouraging elements in the sltu-
ation. About the only new feature of a
definite character that seems to be In
process of discounting is recognition of
the Mexican government, which may or
may not become an accomplished fact in
the near future.
Speaking from the standpoint of groups,
the oils, motors and motor accessory
shares furnished more than their share
of the volume and galna. Standard Oil
of New Jersey, Pacific Oil, Royal Dutch,
General Asphalt, Mexican Petroleum and
the Pan-Americans all made substantial
gains on heavy trading.
The Studebaker stocks established a new
high level for the present upward move
ment and the Pierce-Arrow issues were
active and strong.
The steels were confidently bought.
United States Steel sold at a new high
level for the year. Crucible was strong and
Bethlehem Steel B recovered sharply from
its recent depression.
Among the speciatlles making unusual
advances were Allied Chemical, National
Lead, Computing, Tabulating & Recording,
General Cigar, Electric Storage Battery,
California Packing, Wilson & Co. and
Worthington Pump,
The rails showed a tendency to move
within rather narrow limits and gains
generally were of a fractional character.
Buying of Southern Pacific was increased
In volume, due largely to expectation of
favorable developments in the Mexican
situation.
The oils and motors played a prominent
part In what proved to be the biggest day
of the year so far on the stock exchange,
the number of shares totaling 1,314,500.
Royal Dutch and Pacific Oil assumed the
lead in that division, with Studebaker and
the cheaper motors contributing a large
part of the activity.
IMew highs were the order of the flav.
with United States Steel leading a brisk
upward movement in the steel groun. In
spiration for this movement is found in
current operating figures for the industry,
which are gaining weekly.
The meeting of the Studebaker company
to be held in Jersey Citv tomorrow in .-
pected to show earnings at the rt nf sin
a share for the quarter, or $40 a year, this
amounting to $7,500,000. During the first
quarter 80,M)0 cars were shipped out by
the company. Studebaker was taken well
in hand today, and with trading on an ex
ceptionally heavy scale was moved up to
1184, a new high for the year. The close.
snowing 4.i net lor the day, was the mar
ket reflection of tomorrow's meeting. The
pools handling Studebaker, Chandler and
other leading motors are meeting with con
sistent success and their ranks were fur
ther augmented today.
General Motors and the Pierce Arrow
issues moved with the rest of the list
today, the latter being influenced by re
newed rumors of possible mergers. The
International Motors issues were rather
quiet and only moved fractionally. Inter
ests closely connected with the manage
ment of this latter company are very op
timistic concerning the success of the new
motor rail car wrhich is being tried out on
some of the leading railroads, although as
yet the system has hardly passed the ex
perimental stage, very few cars being
actually in use. The rail car industry is
still in its infancy and it is questionable
as to whether the efforts of the White
company and others are even advanced so
far as those of the International, or. as
the company will be known after AprillS,
Mack Trucks, Inc.
,
with steel operations up to 85 per
cent of capacity in some plants and the
price trend undeniably upward, the sharp
rise in the steel stocks today furnished no
surprise in the market. After several vain
attempts Vanadium succeeded In crossing
40 and the closing rate of 42 was but
under the high of the year made
earlier in the day. United States Steel was
taken in large blocks and by a coincidence
the turnover, in steel and Studebaker was
exactly, tho same.
The Bethlehem Issues were strong and
materially higher. "With the meeting due
tomorrow In New York the action of to
day's market would seem to cast some
doubt on report circulated here earlier
in the week of the probability of a reduc
tion in the dividend rate. As a matter
of fact, it was generally believed here
today that higher steel prices will be an
nounced at tomorrow's meeting. In view
of Bethlehem's very good report for 1921
and the present growing improvement
in the steel industry, there Is little doubt
that any reduction in the Bethlehem rate
would come as a great surprise.
Munich 4s ...........
Stuttgart 4s
Essen 4s ..................... ...
Bremen 4s ...
Hamburg ...
French internal 4s 1917
do victory 5s 1920
Belgian restoration 5s ........ ...
Pritish 2 consols ...
lial cons war loan 5
Railroad Bonds
Atch gen 4s 1995
A C L 4s . 1952
do 7s 1930
B O gold 4s 1948
do con 4s cv 1933
do ret 5s 1995
Canadian Southern 5s 1962
Canadian Nal eq 7s 1935
Canadian Nor 6(s 1948
do 7s 1940
Cent Pac 1st 4s 1949
Ches & Ohio cv 4Ks 1930
do gen 454s 3992
do cv 5s 1946
do con 5s 3939
C B & Q 111 div 4s 1949
C & West Ind 4 1952
C G & W 4s 1959
C 11 ft St P 4s 1925
do cv 4s 1982
do deb 4s 1934
dyo ken 4s A 1899
do cv 5s 2014
do g and r 4s A 2014
Chgo N W gen 4s 1987
do 614s ...1936
do 7s 1930
C R I & P ref 4s 1934
Colo South rf ex 4s 1935
do 4s 1929
Del & Hudson cv 5s 1935
do 7s 1930
D & R G cv 4s 1936
do ref 5s 1955
Erie P L 4s 1996
Erie con 4s A 1953
do B 1953
do D 1953
Erie Pa C G 4s ...1951
Gd Trunk eq 6&s 1936
Great Nor 4 &s 1961
do 7s 1936
Gt Trunk 6s 1936
do 7s 1940
111 Cent-Jt 6s 1903
do ref 4s 1955
K C Sou ref 8s . 1950
Keo & Des M 1st 5s 1923
L S & M S 4s 1931
L & N 7s ..1930
do uni 4s 1940
M St P & S S M 6 198
M K & T 4s 1990
M P gen 4s 1975
M P ref 6s 1923
M P ref 6s 1926
NYC deb 4s 1934
NYC con 4s 1998
NYC ref imp 4 14s
NYC cv deb Cs
NYC coll 7s
N Y N H A H cv 6s
N O Tex & Mex os
N P P L 4s
N P 6s
N P Gt Nor Jt 614s
O S L ref 4s
Penna 614s
Penna gen 4V4s
Penna 4s
Penna gen 5s
Penna 7s
Penna R R 614s
Reading gen 4s
S A L 4s
S A L 5s
S A L 6s A
Sou Ry con 5s
So Pac cv 4s
So Pac ref 4s
So Pac sf term 4s
fl P conv 6s
St L & S P L 4s A...
St L & S F gen 5s
St L &. S F P L 5s B ..
St L & S F gen 6s
St L & S F adj 6s
St L & S F inc 6s
St L & S W 1st 5s
St L & S W con 4s
St L i S W lit 4s 1989
Tex Pao 1st 6s 2000
Un Pac 1st 4s . .
Un Pac cv 4a ...
Un Pac ref 4s ...
Un Pac 6s
Un Tank 7s
Wabash 1st 5s .
Wabash 2d 6s . .
West Pao 5s
MKT adj 7
Industrials
Allied Packers 6s
Amn Agr Ch 7!fes
Amn Sm 1st 5s. .
Amn Tob 7s ......
do
Anaconda 6s A....
do 7s B ,
Armour cv 7s
do 414s ,
Beaver Board 8s .
Beth Steel 7a
do eq 7s .......
do ref 5s
Cerro de Pasco 8s.
Chile conv 6s A .
do 7s
Col Graph 8s. .
...2013
...1935
...1930
. ..1948
...1935.
...1997
...2047
. . . 1936
. . .1929
...1936
. . .1965
...1900
...1968
...1930
. . .1036
...1997
...1950
. . J 949
. . .1945
. ..1994
...1929
...1955
...1950
. . .1934
...1950
...1981
...1950
...3931
. . .1955
.1960
.1952
.1932
. .1947
..1927
. . 2008
.1928
..1930
..1939
..1939
..1946
..1939
..1941
..1947
..1922
..1923
..1929
..1929
. .1930
. .1939
..1933
. .1923
. .1935
. .1942
..1931
..1932
..1923
..1925
Copper Exp 8s 1923
do 1924
do ...3925
Colo F & I gen 5s 3943
Colo Ind 5s 1934
Cuban Amn Sugar 8s ,...1931
Cuban Cane cv 7s 1930
Distillers Sec cv 5s 1927
Dlam Match 714s 1933
Dupont 714s ......1931
Empire Gas Fuel 6a 194
Fisk 8s 1941
Gen Elec deb 5s 1952
do deb 6s 1940
Goodrich 7s 1925
Goodyear 8s 1941
Heinz 7s 1930
Hershey 714 s 1930
111 Steel deb 414s 1940
Ind Steel 5s ....1952
SAN FRANCISCO.
Hawaiian raw soigar,
April 3. California-
3.86c.
Uvestoek Loans Announced.
WASHINGTON, D. C. April 3. Ag
ricultural and livestock loans, an
nounced by the war finance corpora
tion today, included one of $78,000 in
Washington and one of $13,000 in
Idaho,
The coppers failed to reflect the im
provement in the steel group and seem
ingly Utah, the smelting issues and other
coppers have shot their bolt for the time
being. Copper metal is not holding , so
firmly here as it has been and it is re
ported that the market price of 12 cents
for second quarter delivery can be shaded
by eecond hands.
With the steels moving steadily higher
under the stimulus of general Improve
ment, it was only natural to expect the
rail equipment issues and other large steel
concerns to follow suit. American Can re
flected the general improvement in its own
line with a new high for the year at 49.
Baldwin and American Locomotive, were
both substantially higher, while Lima,
which has been holding its own with the
other locomotive Issues, was quiet and
hardly changed.
Pacific Oil and Mexican Petroleum acted
as standard-bearers for the oil group. Cov
eting in Mexican Petroleum in addition to
new buying was based on the theory com
monly adopted in the market that the
coal strike is going to make a tremendous
demand for oil of all kinds.
Specialties were again .taken in hand
todap and sharp gains were made by Kel
sey Wheel, General Cigars, Fisher Body.
International Cement and others.
Traders in close touch with the situation
In the allied building trades are looking for
further improvement in International Ce
ment and other cement issues. Building
operations this spring, especially in th
case of dwelling houses and apartments
have been going forward on a very heavy
New York Bonds.
Furnished by Herrin & Rhodes. Inc.
Fcrtland.
Foreign government bonds
Argentine 2d 7s 1923
do GI 5s 3945
Belgium 8s ......1940
Bergen 8s 3945
Berne 8s ....1945
Christiana 8s 1945
Copenhagen 514 s 1944
Int Agr 5s
Int Marine CT 6s...,
Kelly Springfield 8s.
Kennecott 7s .,
Lack Steel 5s
do 1st 5a
Libby McNeil L 7s...
Llg & Meyers 5s....,
do 7s
Lorillard 5s ,
do 7s
Midvale 5e
Morris & Co. 714 s
Froc & Gamble 7s...,
Republic I & St 5s...
Sears Roe 7s
de 7s
Steel & Tube 7s . . ...
Swift & Co 7s
do Ts
United Drug 8s
U S Rubber 1st ref
do 714s
U S Steel sf 5s
Va Chem 5s
Va Car Chem 714s .
Western Electric 5s ..
West U T col tr 5s ..
Western Union 614s ..
Wilson 1st 6s
do cv 6s
West Elec 7s
Westinghouse 7s
Public Utilities
Amn Lt & Tran 6s ..
Amn Tel coll 4s ....
do coll 5s
do 6s
Bell Tel of Pa 7s ...
B R T 5s
Cal Gas uni 5s .....
Cities Serv 7s B ...
do 7s C
do 7s D
Con Gas cv 7s - . . .
Int Met 414s
Int ,R T ref 5s ......
Laclede Gas 7s ......
Mont Power 6s A
Northwest Tel 7s
Ohio Cities Gas 7s . .
Ohio ' Power 7s
Pac Tel 5s
South Cal Ed 6s ....
U R R of S F 4s ..
Oil Bonds
Anglo Amn 714s ....
Atlantic Ref 614s ..
Galena S Oil 7s
Gulf Oil "s
Humble 7s
Pan Amn 7s .......
Mex Pet cv 8s
S O Cal 7s
S O N Y 7s
Texas Co 7s
Tidewater Oil 614s
Vacuum Oil 7s
Curbs Bonds
..1932
. .1941
..1931
. . 1930
. .1923
. . 19S0
. .1931
..1951
..1944
..1951
..1944
. .1986
. .1930
. . 1923
..1940
. . 1922
. .1923
..1951
..1925
..1031
. .1941
. .1947
. .3930
..1963
. .1923
. .1932
..1922
..1938
..1936
..1941
..1928
..1925
..1931
..1925
..1929 1
..1946
..3925
..1945
. .1945
..1937
..3966
..1966
..1966
. .1925
..1956
. .1966
..1930
. .1943
..1941
. .1925
..1951
..1937
..3934
..1927
4
8
4
3
314
5714
6914
' 76
61
4114
88
8814
10714.
8044
80
82
96V4
109
109
11014
8414
8614
8514
75
9914
8814
73
6114
76
66
63
76
66
6014
8514
107
10614
79
87
9114
94
108 li
76
451
61
4214
42
4414
87
105
89
307
101
-09
. 03
86
87
8214
92
108
91
108 li
77 K
62
99
96
8714
80
86
101
107
70
6714
8514
10614
106
91
107
8814
95
97
10714
106
84
64
2114
61
94
90
80
8114
98
70
95
8514
102
77
64
78
74
77
93
91
93
86
103
103
97
86
86
62
71
10114
89
101
102
99
102
103
88
70
30114
102
93
114
86
101
46 -103
103
104
85
7414
104
84
42
307
104
94
105
99
305
98
115
104
101
90
100
77
95
105
102
99
84
100
96
11314
95
113
86
104
101
93
100
100
97
101
102
107
87
305
102
97
94
99
95
107
95
86
108
106
NEW BONDS ARE ABSOHBED
SIXTY MELMON NEW YORK
CENTKAIi LOAN IS TAKEN.
Issue Is Oversubscribed Within
Hour Liberties Show Mixed
Gains and Losses.
NEW YORK, April 8. The stimulating
feature of today's active bond market,
which almost kept pace with record deal
ings in stocks, was the speedv absorption
of the $60,000,000 New York Central 5 per
cent bonds. These were oversubscribed
within an hour.
Heavy accumulation of Mexican govern
ment 4s and 5s at pronounced gains, part
of which later was forfeited, and the
higher range of values registered by other
zoreign issues were among the other note
worthy developments.
Among liberties the 3s established 1
new maximum at 98.58, but the second 4s
eased, the entire series showing mixed
gains and losses at the close. .
Many Junior rails of the western and
southern division were materially higher
and local tractions also displayed irregular
strength.
Sales totaled $18,792,000.
The vqiume of operations on the stock
exchange, today established a high record
for the year, approximately 1,300.000
shares changing hands. Many new maxi
mums for the period were made by favor
ites of the industrial and miscellaneous
groups.
Bullish sentiment, increasing over the
week-end, was evidenced by heavy orders
placed by commission houses, western in
terests were said to be especially active
in the demand for speculative steels and
rails.
Advice from the chief centers of trade
and industry were encouraging. Indicating
an increase of railway tonnage, gains in
various lines of business and a pronounced
extension of Investment purchases. Coalers
were not affected by the miners' strike,
the few changes in that division being
Tnainlv iinward.
Motors, independent steels, oils and
equipments were the outstanding features
at net gains of 1 to 4 points. iuae
baker led the entire list and United States
Steel asserted much of its old time
nromlnence.
Mexican and California issues were fore
most of the oils. Unclassified stocks, sucn
as California Packing, Wilson & Co., and
Davison Chemical were substantially
hi ff-hr.
The lnaulrv for rails centered in the
nreferred stocks of St. Paul. Chicago
Alton and Toledo, St. Louis & Western at
extreme gains of one to two points. Cop
pers and the general metal list alone were
sluggish or heavy.
The money market favored the further
rise of stocks, call loans easing irora t
to 4ia ier cent in the final hour. Time
funds again ranged from 4 to 4 per
cent, out orierings 01 long uum
modations were lighter than usual.
A moderate reaction in the German mark
was the one exception to the stronger
tone of foreign exchanges. Sterling rose
almost 2 cents, French, Italian and Belgian
hills were 3 to 12 points higher and Dutch
r. r A Sn.ninaingn, mintatlonS imDrOVed
to 15 points, the Norwegian rate leading.
CLOSING STOCK QUOTATIONS.
Furnished bv the Overbeck & Cooke
. .3925
. .3931
..1930
..1933
. .3933
. .1930
..3936
..3931
..1931
. .1923
..3931
..1936
106
91
97
116
107
43
94
115
90
96
109
36
98
94
107
100
102
94
89 '
102
103
104
101
103
100
97
303
303
3 06
3 06
101
101
106
r.omnn.nv of Portland.
Stock. Sales. High.
Adams Exp... 300 67
Advance Rum. 600 17
do pfd 200 47
Agr Chem 60S. 40
do pfd 300 66
Ajax Rubber.. 2,400 17
Alaska Gold. .. 300
Alaska Juneau 100 1
Allied Chem... 20,600 07
Allls-Chai 3.900 47
Am Beet Sug. 600 41
Am Bosch 1,700 45 Vi
Am Can Co... 5,100 49
do pfd . . 200 102
Am C & Fdy.. 400 156
do pfd
Am Cotton OH 1,200 26
rin nfd
Am Drug Syn. 300
Am H & L. . . 100
Am Ice 700
Am Intl Corp. 1,100
Am Linseed... 3,900
do pfd 500
Am Loco 6,200
do pfd. .
Am Saf Razor 1,700
Am S & Com. . 900
Am Smelter.. . 1,100
do pfd 400
Am Steel Fdy. 4,700
Am Sugar 1,000
Am Sumatra.. 900
Am T & T ' 1.700
Am Tobacco... 3,900
do "B" 2.300
Am Wool 4,100
do pfd ....
Am W P pfd. 1,000
Am Zinc 300
Anaconda .... 3.700
Assd Oil 700
Atchison 2,900
do pfd 700
A G & W I... 1,100
Baldwin Loco. 29,700
do pfd. . 200
Bait & Ohio. . . l,i 00
do pfd 400
Beth Steel "B" 15.300
B R R 2.
Butte C & Z.. 200
Butte & Sup. . 1.400
Burns Bros. ... ' 700
Caudc Oil 800
Cal Packing... 8.800
Cal Petrol 7,600
do pfd...... 200
Cana Pacific... 4,500
Cent Leather. . 2,800
Cerro de Pasco 200
Chand Motor. . 15,100
Low.
67
16
46
40
66
17
1
64
46
40
44
47
102
155
n A- N W 1,500
Chgo Gt W .. 500
do pfd boo
Chill Cop 1.800
Chino , 300
C M St P .... 1.600
do pfd 6,000
Coco Cola 3,500
C & 0 1,000
Colo F & I... 2,400
Colo South... 800
Col G & E... 8,800
Col Graph ... 2,500
Con Gas 1.030
Cons Cigars. . 300
Contl Can ... 1,700
Cities S B. --"A
Corn Prod . . . 7,800
do pfd
Cosden Oil ... 1.730
CRI&P-... 8,100
do A pfd... 200
do B pd... 300
Crucible 13,800
do pfd 400
Cuba Cane ... J.200
do pfd. 1.80
Cuban A Sug. J.""
Del & Hud... 300
Dome Mines.. 400
Fisl & Lack. . . 500
5
15
108
44
34
58
112
'7
14
54
98
37
71
33
121
140
136
88
29 '
15
51
108
97
87
31
113
108
42
57
75
18
6
27
127
13
78
65
93
138
37
35
76
71
8
20
17
27
24
40
49
62
81
48
74
3
309
28
62
5
15
107
43
33
58
110
'7
13
5314
97
36
71
33
121
- 137
134
87
28"
15
51
107
97
87
30
1 10
108
41
67
73
17
6
26
127
12
75
64
92
137
36
35
74
71
8
20
17
27
24
39
49
63
80
45
84
3
108
27
61
7,800 106 105
Davison Chem 14,200
.1922
Allied Packers 6s
Am Tel & Tel 6s .
Anaconda Copper 6s
Anglo-Am Oil 7s
Galena Signal Oil 7s
Inter Rapid Tran 5s
so west lei
St Oil N Y 6s 1933
St Oil N Y 7s 1926
Swift & Co 7s 1925
Texas Co 7s Notes
Last Sale.
71
100
98
103
101
83
7s 302
105
3 05
101
101
STANDARD OIL PROSPERS
Danish Consbl 8s 1946
French 7s 1841
do Ext 8s 1945
do cities 6s 1934
Rus ruble 6s ...3926
Swedish govt 6s 3939
U S Mex 4s 1954
do ext 5s 1945
Uruguay ext 5s ,. ...
Zurich 8s 1945
Foreign government city bonds
Bt-rlln 4s
Gieater Berlin 4s
Hamburg 4s
Bremen 4s
Cologne 4s ......................
Dresden 4s .................. ...
do 4s
Dusseldorf 4s .......... ...... ...
Frankfort 4s
Leipzig 4s
do 4
99.
83
108
109
112
104
92
112
302
106
86
4
100'
57
62
73
113
"s
2
3
: 3
8
3
3
4
4
Kentucky Branch Doubles Its
Capital Stock.
LOUISVILLE, Ky., April 3. Stock
holders of the Standard Oil company
of Kentucky at their annual meeting
here today increased the capital stock
from $6,000,000 to $12,000,000 and de
clared a stock diviaend of $2,000,000.
They also set aside $2,000,000 in stock
for stockholders, to be purchased at
par, and placed a like sum in the
treasury, a portion of which will be
sold to employes on a plan yet to be
worked out.
Par value of the stock was reduced
from $100 to $25 and the debt limit
was increased from $400,000 to $12,
000,000. Surplus and undivided profit of
$10,668,442.43 was shown by the an
nual financial statement of the com
pany, which was made public. Of
this amount $1,380,000 is set aside for
dividends and income, and profits
taxes, leaving a balance of $9,288,-443.43.
End! Johnson
Erie
do 1st pro..
Elec S Bat:...
Fam Play....
F M & S
do pfd
Fisk Tire ....
Gaston Wms...
Gen Cigars...
Gen Elec ....
Gen Motor....
Glen Alden...
Gen Asphalt..
Goodrich
Goodyear ....
Gran by
Gt Nor Ore...
do pfd
Greene Can...
Gul S Steel...
Houston Oil..
Hupp' Motor. .
Ills Cent
Inspiration . . .
Interboro ....
do pfd
Inter Callahan
Int Harv
do pfd
Int Mer M
do pfd
Int Nickel ...
Int Paper ...
do pfd
Invincible Oil.
Island Oil
Jewel Tea ...
K C South...
do pfd ....
Kely-Spgfld ..
Kennecott
Keystone Tire
Lack Steel.
000
8.800
4,300
2,000
12,600
"466
"166
1.800
1,200
67.000
1L800
1.50O
"800
4.400
3,700
2O0
6,000
5,500
BOO
900
800
300
V,466
500
36
41
93
79
59
85 '4
15
34
22
119
2
116
61
84
32
19
159
81
39'
17
70
158
11
"64
40
"27' '
37
72
26
73
79
17
103
4014
3
'6
88
36
40
93
79
56
84
35
33
21
118
26
116
59
83 .
11'
18
157
80
'38
16
8
157
10
"63
40
'26' '
36
71
26
71
77
16
101
40
6
97
700
2,800
7,400
2,400
36
73
18
47
16 14
72
1
40
14.700
18,600
700
6.600
100
7,600
1.800
3.900
6,200
Lee Tire ' 2,000
Lehigh Val.
Lorillard . . .
Loew Tea. . . .
L & N
Md Oil
Martin & P. .
May Stores..
Mex Pete ...
Miami
Mid St Oil.
2.000
1.000
2,300
1.000
2,000
2.700
1,800
20,000
600
9,200
Midvale Steel 11,400
M K && T
do pfd ....
Mont Power..
Mont Ward...
Mo Pac
d pfd
M 8tP & SSM
North Am
10.200
2,500
700
9,400
6.300
4,400
20
1
20
27
55
47
30
18
5-2
33
60
150
15
115
26
30
119
124
27
13
34
14
85
68
38
23
55
18
1
19
23
55
47
- 29
18
61
82
60
148
15
115
26
29
118
12
27
13
33
13
84
66
17
22
64
1,800 57 67
Bid,
66
16
45
40
60
17
1
67
47
40
45
48
101
155
117
25
54
5
1514
107
43
34
58
111 'A
116
7
14
53
97
37
71
33
121
139
136
85
105
28
15
51
107
97
87
30 Vi
113
107
42
57
74
17
6
26
127
12
77
64
92
137
37
35
76
71
8
20
17
27
24
39
40
62
31
46
84
3
109
27
61
20
106
113
36
40
93
79
59
85
15
34
21
119
26
118
60
83
12
10
159
81
9
89
16
70
157
11
44
63
40
10
'26
37
71
2
72
77
16
102
39
3
8
6
97
107
1
72
16
47
73
19
1
19
26
55
47
2914
38
61
33
60
148
15
115
26
89
119
123
-27
33
34
34
85
66
37
22
55
60
67
Okla P Ref... 1.900 2 2 2
Ont Silver 7
Ont & West.. 800 24 4 24
Otis Steel ... 500 12 12 12
Pac Dev 1,100 9 9
Pac G & E.. 900 88 68 68
Punta Allegre 100 41 41 41
Pao OH 39,600 54 63 64
Pan Am Pet.. 6,000 5 53. 66
do B 2.100 50 50 60
Pa Ry 22,000 41" 39 40
Peo Gas 100 81 81 81
Pere Mar .... 2,200 29 29 29
Pure Oil .... 1,700 82 82 82
Phil Pete 2,500 87 87 87 .
Pierce Arrow.. 17.500 21 19 20
Pierce OH 2,400 8
Pitts Coal 61
P & W Va... 4,500 30 29 20
do pfd 79
Pr Steel Car. 1,800 75 74 75
Pullman 2,000 123 122 122
Ray Con 1.500 15 15 15
Reading 3,100 75 74 75
Remington ... 900 34 33 84
Replogle Steel 5,900 33 30 82
Rep I & S 4,200 54 53 64
do pfd 1,100 78 78 78
Rep Motors... 700 7 7 7
R Dutch Oil.. 17,200 66 54 . 56
Ry Steel Spg. 200 98 98 88
Saxon Mot 3
Sears Roebuck 4,700 75 74 75
Shattuck, Ar. 100 8 8 8
Shell T & T 40
Sinclair 28.800 23 24 25
S O Indiana.. 1,200 88
S O N J 179 176 178
Sloes Shef... 900 42 -41 41
Sou Pacific... 2,000 87 86 8714
Sou Ry 1.000 23 22 '22
Stand Oil Ooi 8.80O 98 97 97
St L & S F... 6.3O0 29 28 29
Strombg Carb 1.700 49 48 48
Studebaker .. 53.8O0 118 113 117
Swift & Co 104 104' 104
Tenn Cp & Ch 1,300 11 11 11
Texas Oil.... 19,600 45 43 45t4
Texas Pac... 2,500 33 S2 ' 32
Tex Pc C & O 6.5O0 27 26 26
Tob Products 1.4O0 83 62 62
Tran Contl Oil 7.40 IO 9 9
Un.ion Oil Dei 1.000 18 18 18
Union Pac... 13.800 134 183 134
United Alloy. l.OOO 31 31 31
United Drug. 2.5O0 70 88 69
Unit Fd Prod 60O 5 6 5
United Fruit. 1.70O 143 14114 143
Union B & P 2O0 90 60 60
ASCI Pipe 1.300 86 35 85
Unit Ret Stres 2.10O 45 45 45
U S Ind Alohl S.20O 47 46 46
U S Rubber.. 2.800 63 62 63
do 1st pfd.. lOO 105 105 105
U S Smelting. 1,900 36 38 36
U S Steel 61,600 97 95 97
do pfd 8O0 137 117 117
Utah Copepr. l.OOO 64 63 63
Va Ohem.... 400 35 34 35
do pfd 75
Vanadium Stl 29.100 42 39 42
Vivandou .... 7O0 10 10 10
Waabsh 1.900 10 9 9
do A pfd... 1,000 82 31 31
do B pfd... 100 21 21 20
Welle Fargo.. 200 80 79 80
Western Pac. 1,800 20 39 20
do nfd 5ift Kji 3. rv.
Western Unkwi 95
Westg-hs A B 300 90 89 89
Wstghs E & M 4.4O0 68 57 67
West Md 200 10 9 10
White oMtore 8,500 43 42 43
Wlllye-Overld. 6.200 8 8 8
do Pfd 90(1 404 441 - 4I1U.
Wilson Peking 2.1O0- 42 40 42
wise centra). 400 30 SO 30
woolworth 10O IttS Iti.'t 1K3
Worth Pump.. 2.00 04 52 64
W & I E 500 9i 9 9
White Oil 11.400 10 10 10
Government Bonds.
NEW YORK. Aoril 3 Government hnnrli
closed:
U. S. reg ....103U S cv cpn....103
do coupon. .."103jPan 3s reg 87
C S 4a reg 103 do coupon.. 87
Bid.
Liberty Bond Quotations.
Open High. Low. Bid.
Liberty 3s.... 98.32 88.50 98.32 98.42
Liberty 1st 4s 88.90
Liberty 2d 4s 98.60
Liberty 1st 4s. 9S.88 98.93 98.80 98.9S
Liberty 2d 4s. 98.64 9 8.76 9 8.62 98.76
Liberty 3d 4 lis. 99.50 99.32 99.44 99.50
Liberty 4th 4s 98.90 99.14 9S.90 99.10
Victory 4s... .100.82 100.92 100.82 100.88
Victory 4s 100.OJ 100.O2 100.02 100.03
Swift A Co. Stocks.
Closing prices of Swift & Co. stocks at
Chicago were reported by the Overbeck A
Cooke company of Portland as follows:
Swift & Co 104
Libby, McNeil & Libby 4
National Leather 2
National Leather, new 30
Swift International 20
Money, Silver, Etc.
NEW YORK, April 3. Call money firm;
high, 4 per cent; low, 4; ruling rate.
4; closing bid, 4; offered at 4; last
loan, 4 ; call loans against acceptances.
4 c.
Time loans steady; 60 days, 4 per cent;
90 days, 4; six months. 44.
Prime mercantile paper, 44 per
cent.
Foreign bar silver, 65 c.
Mexican dollars, 50c.
LONDON, April 3. Bar silver, 83d
per ounce. Money, 2 per cent. Discount
rates short bills, 22 33-1,6 per cent;
three months' bills, 2g3.
New York Central
Railroad
First and Refund Improvement
Mortgage 5 Gold Bonds
Price Yield about
94y2
Dens. $100, $500, $1000
Due October 1, 2013 Optional in 1951 at 105
Within a few hours after the subscription boohs
were opened this
Issue Was Oversubscribed
We offer our participation and must accept res
ervations strictly in the order received. Phone
or wire reservations, or call in person.
LUMBERMENS
Broadway and Oak
Finland, finmark 0?0S
France, franca 5
Germany, marks 034
Greece, drachmas 0447
Holland, guilders 381 0
Hungary, kronen .0018
Italy, lire W135
Jugo-SIavia, kronen .0035
Norway, kroner
Portugal, escudos .0005
Roumanla, lei ,,,,s,)
Serbia, dinara 0134
Spain, pesetas 15t2
Sweden, kroner ft30
Switzerland, francs 19TJ
China-Hongkong, local currency. .d30
Shanghai, taeis 7 3. 'SO
Japan, yea 4to0
NEW YORK. April 8 Foreign exchange,
firm; Oreat Britain, demand, 14.80;
cables, $4 30?;; 60-day bills on banks,
$4.86. France, demand, O.02c; cables,
9.10c. Italy. demand. 5 30c; cables,
5.30o. Belgium, demand, 8.42c; cables,
8.43c. Germany, demand, 31 c; cables,
31ic. Holland, demand, 87.82c; cables,
37.85c. Norway, demand, 17.82c. Sweden,
demand, 26.12c. Denmark, demand, 21. loo.
Switzerland, demand, 1&.45C. Spain, de
mand, 15.51c. Greece, demand. 4.42c.
Poland, demand, .02c. Czecho-.Slovakla.
demand 1.89c. Argentina, demand. 85.87c.
Brazil, demand. 13.75c. Montreal, 87 1-lOc.
Foreign Bonds,
Furnished by Overbeck &
pany ot Portland:
Mining Stocks at Boston.
Closing mining stocks .at Boston. fur
nished by the Overbeck & Cooke company
of Portland.
Arizona Com
Adventure
Ahmeek
Algomah
A41ouez
Arcadian
Bingham Mines ....
Balakalla
Calumet & Arizona
Calumet & Hecla ..
New Corn ........
Centenial
Copper Range .....
Davis Daly
Kast Butte
Franklin Mining . .
Hancock
Helvetia ,
Indiana
Island Creek
do pfd
Keewanaw
Kerr lake
Lake Copper
L.a Salle
Michigan
Massachusetts Con
Bid.
. . 8 l
.. 60
. . 60
. . 20
.. 23
. . 2
.. 13
.. 6
R7
..275
.. 37
.. 30
.. 42
. . 7
.. 11
.. 3
.. 2
.. 1
. . 50
..104
. . 80
.. 1
.. 3
.. 2
.. 1
.. 1
-
Mohawk 58
May Old Colony
Mason valley
Nipissing
North Lake
Old Dominion Copper...
Oseola Mining
Obljawa
Quincy Mining
lJond L'recK
South Lake
Superior Boston
United Shoe Machinery
do pro
South Utah
Shattuck
Utah Metals
U.S Mining
do pfd
Utah Apex
Ventura
Victoria
Winona
Wolverine -
Wyandott
4
3
. 6
. 20
. 24
H
! 4:1
. 38
. 44
. I0
. 43
. 25
5
. 8
.1 5-18
. 36
. 45
. 2
. 25
. 1
. SO
. 32
. 40
Asked
0
OL
61
25
28
2
13
68
280
17
43
8
11
r
so
104
1
3
3
2
2
2
4
6
40
84
"44'"
18
45
100
4.'i
2
10
9
1
37
46
2
26
1
40
3 3
45
Standard Oil Bonds.
Standard Oil quotations furnished by
Overbeck & Cooke company ot I'ortiana
Nat Biscuit 138
Nat Enamel.
Nat Lead ....
Nev Con
New Haven...
Norf & West.
Nor Pac
N S Steel
N T Air Brk.
N X Central..
1,600
1,000
1,400
7,300
500
1.300
4.800
36
92
15
21
103
75
2
85
81
13
20
103
74
26
3,700 87 80
36
92
14
20
103
75
28
67
87
Anglo
Borne scrysmer .
Buckeve
Cheesebrough ....
Cheesebrough pfd
Continental
Crescent
Cumberland
Eureka ..........
Galena com
Oalena Old pfd ..
Galena New pfd..
Illinois Pipe
Bid.
.. 17
. .350
..94
..334
..110
..331
. . 3:1
. .14J
. . 94
.. 46
..310
. .300
.. .177
National Transit
N. Y. Transit 170
Northern Pipe '
Ohio Oil 2j.,
Inter' 1 Pete J J4
Penn Mex -0
Prairie Oil 540
Prairie Pipe 227
Solar Refg 340
Southern Pipe 97
South Penn Oil ....180
S W. Penn Oil 6!
Standard Oil Indiana 8S
Standard Oil Kansas 540
Standard Oil Kentucky 475
Standard Oil New York 372
Standard Oil Ohio 400
Standard Oil Ohio pfd 116
Swan & Finch 35
Vacuum 850
Washington ,.. 28
Standard Oil Nebraska io
Asked.
17
370
96
398
313
134
34
350
87
48
114
105
378
28
17S
3 08
33
28
500
2.11
300
90
183
63
ss
60O
490
376
410
117
45 ,
354
32
3 72
130
Imperial Oil 100
Foreign Exchange.
Foreign exchange rates at the close of
business yesterday, furnished by North
western National Bank of Portland. The
amounted quoted Is the equivalent of the
foreign unit in United States funds:
Country. Unit. - Rate
Austria, kronen ....$ .000223
Belgium, francs 0855
Bulgaria, leva 0080
Czecho-Slovakia, kronen 02O0
Denmark, kroner : 2120
Kngland. poimd sterling 4.41
HOTEL HOYT
Newly furnished and remcdeled.
Strictly Fireproof. Near both depots
and convenient car service to
all parts of city.
Moderate Ratrs.
K. E. HR1MORK, Manager.
Belgian rest 5s ..
do prera fis ....
do ls
do 6s
Chile 6
do 7s
British fis
do 5s
do fis
do vky 4s
do ref 4s
Bordeaux 6s ....
Canadian '5s
do fis
do 5i
do fis .........
do 6nS
Chinese 5s .......
Chilean 8s
Currency
Denmark 8s ....
rrench 4s
do fis
do 5s
do 7s
do 8s
German W L 6s.
Berlin 4s
Hamburg 4s ....
do 4s
Lelpsig 4s
do fis
Munich 4s
do fis
Frankfort 4s ....
j Italian 6s
jap
do 1st 4s ....
do 2d 4s ....
Norway 8s
Russian fi S . . . .
do 5s
do 6s
Swiss 5s ......
do 8s
San Paulo 8s ...
U K 5s
do fis
do 6 s
Swedish 6s
...394S
...1925
...1032
...1923
...M22
...1927
...1929
.1934
.1937
.1928
.1929
. 1931
.1927
.3951
.1941C
...1943
...1917
...1920
...1931
. . .1941
...1945
Cooke
Bid.
72
80
10S
103
80
101
89
90
90
75
74
8H
97
98
100
87
97
51
103
8
111
65
79
7
1 0 2 !
106
.1918
. 1931
.3925
.1925
. 1940
.1921
.1926
.1919
. 1929
.1040
!l!22
. 1929
.11137
.3939
8
4
8
3
3
RS
74
89
s
111
20
6
loT
117
304
105
105
99
100
com-
Ask.
74
S3
108
los
Hll
102
91
92
92
77
76
8H
9M
99
10O
98
9S
53
104
6
112
68
81
09
302
106
3
SVi
8
8
4
6
4
4
4
89
74
90
90
112
"2
"ii
24
101
3 18
301
105
3 or.
ion
300
May, .80e; Jnly. 9 47e: Srlmher. 29;
Iecember, 9.31c; January, 93c; March.
9.25c. '
Spot coffee firm; Rla 7s, 10c; Panto
4. I4I4.
QUOTATIONS OX DAISY TBODICTS
Current Prices Ruling on Butter, Cheese
and Kggs.
SAN FRANCISCO, April 8. Butter, ex
tra, 33 c; prime firsts, 83c.
Eggs, extras, 27c; extra firsts. 25c; ex
tra pullets, C3c; extra pullets, firsts, 24c;
undersized No. 1, 21 c.
Cheese California flat fancy, 21c; flat
firsts, 20c; Young America fancy, 22 c.
NEW YORK, April 8. Butter. firm)
creamery, higher than extras. 363c;
creamery, extras, 35c; creamery firsts,
344f35c; packing stock, current make No.
2. 21 '22c.
Eggs Irregular; fresh gathered extra
firsts. 272Sc; do firsts, 24fq)2c;
storage packed extra firsts, 28i2(i; do
firHts. 2728e.
Cheese Unsettled; state whole milk
flats fresh specials. 1920c; state
whole milk twins fresh specials, 19&20c.
CHICAGO, April 8. Butter, lower;
creamery extras, 35c; firsts, 33&35c;
seconds, 314(32c; standards. 34 c.
Eggs Lower; receipts 29.903 ens;
firsts. 28 IS' 23 : ordinary firntM. 21 lt'22r;
miscellaneous --'.4W-JC; sinrase pai-Kiru
extras, 25c; storag" packed firsts, 25o.
SEATTLE. April 8. Eggs, select lnrat
ranch, white shells 24$25c; do mixed col
ors, 22c; pullets 19 4f 20c.
Butter City creamery cubes, 34c; bricks
or prints, 35c.
Hops at New York.
NEW YORK. April 3. Hops quiet; state,
1921, 23ff3c; 192, H(?20c; Pacific coast,
1921, 2428c; 3920. 27ti.2Xc.
Coffee Futures Strong.
NEW YORK, April 3. Bullish market
and crop advices from Brazil canned fur
ther advances in the market for coffee
futures here today. The close was .16
points net higher. Sales of futures here
were estimated t shout 44.000 bars.
BUY BRAZIL
GOVT. BONDS
before Sterling goes to par.
Fine opportunity for good
profit. Inquiries invited.
Union Safe Deposit &
Trust Co.
284 Oak St. Broadway 913
Safe Deposit Uoxes
Results in Fracture
Student! of pavement will be Interested
In the following quotation from a state
ment by C. K. Jennen, county aurveyor of
Fresno county. California: "The rigid type
cannot readily absorb and resist the Inter
nal forces set up by expansion and con
traction; neither can It readily absorb tha
dangerous element of impact, unless tha
sub grade is uniform and unyielding, or un
less the pavement is heavily reinforced
against inequalities of sub (trade. When the
forces, either internal or external, go be
yond the structural limitations, the result
is a tracture, leaaing granuany 10 oisinie
gration under impact." Fracture and pre
mature decay may be avoided by uatng
resilient pavement like Warrentta-Bltuli-thfc
which is largely used in Fresno
county. -Adv.
in) (0
CONSECUTIVE CAMI
DIVIDENDS
Hate Bees Paid 4a
Holder of
Northwestern
Electric
Preferred Share..
Over
$30,000.00
Waa Distributed In Dltldrada ea
April First
Northwestern
Electric
.referred Miwren
Re.preisent ownership In ovr
eighteen millions of dollars lit
property urid equipment. A srond
investment in an electrical public
utility.
Northwestern
Electric
Preferred Hharea
will solve your InvMlmunt prob
lem. You may participate in the
profits of this sounil, atahle com
pany. A few dollars monthly will
secure an Income for tho future.
Northwestern
Electric
Preferred fa area
MILL KAIt
7.14
OX VOI R MOMCV.
Prlee
in i - KH.IIT
(Subject io I hangc)
Mail Coupon
XORTimUfTKRV KM:iTHIC CO.
Mork Sale Dept..
Portland (O)
Send in full Information con
cerninir your preferred lircn.
Name
Address
A List of
Income
Builders
Our April list of bond
will aid you in the elec
tion of attractive securi
ties. Sent on reqiient
The National City
Company
Offices In more than 60 clllts.
Venn IIMb;.. Portland.
Telephone .laln 6(t72.
HERRIN & RHODES, Inc.
Established 1!
STOCKS, BONDS,
COTTON, GRAIN
Corrpomlnt. K K. HI'TTOX CO. N. 1
Member, nil l.trilti rhn,ta
H.bMfn'. rvlr. on File.
0dw?. 416. tut MaUwajr fc.xtb.iif. B!Uc.
4