Morning Oregonian. (Portland, Or.) 1861-1937, May 06, 1922, Image 21

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Morning Oregonian., May 06, 1922, Page 21, Image 21

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Newspaper Page TextTHE MORNIXG OREGONIAN, SATURDAY, MAT 6, 1922 21 MODERATELY ACTIVE Features of Sinking .Charac ter Are Absent. SALES EXCEED MILLION Outside Developments Are Re ported to Be 31ildly Favorable. Foreign Exchange Strong. BY MONITOR. (Copyright by the Public Ledger Com pany. Published by Arrangement.) NEW YORK. May 5. (Special.) Aside from examples of special strength among comparatively small number of Issues, today's stoCK market presented few trad ing features of a striking- character. The market was, only moderately active, with toia. sales, however, well in excess or million shares, a volume which has come to bo considered rather moderate. Al though advances largely exceeded declines the gains were confined, chietly to trac Uor.s. Outside developments were of a mild! favorable character. Money was easier, ' with a return in the call rate to Zh per cent after renewing at 4 hi. Foreign changes were strong and sterling in Its rise to 4.4.4. touched the highest figure ince 1919. The strength or tne exenange lias been one of the features of the in tsrnational financial situation that has served to prevent premature pessimism over the friction at uenoa. The decline In the federal reserve ratio from 78.3 per cent last week to 76.7 is interpreted largely as a result of the shift ing or balances aue to tne large payments en the first of the month. The decline lh the call rate is taken as a sign that the effect of this movement Is over and that money rates once more will seek their own level. mm It Is, of course, possible that the In crease in rediscount and note circulation point to trade expansion, but the general view is that the recent large security flotations have been responsible fpr the changes In these items. FHirther declines occurred today in some of the petroleum issues that have been so heavily exploited lately and the advances of today took place chiefly in the special' ties and a few or the rails, boutnern Pa cific and New Haven were distinctly strong. Spirited upturns took place in Maxwell Motors. Consolidated Gas. J. Kay Her, Vanadium, Rand Mines ind Posturn Cereal. The tobacco shares a. so displayed more activity and strength than for some limn. Pittsburg & West Virginia, one of th leaders in the rail group, today was being bought on the theory that earnings since January 1 are very much better than those of 1921. The March net of this company was $05, OIK. This company benefiting greatly by the fact that it hauied considerable coal before the strike beg a n and is receiving Increased traffio ! steel products. United States Realty established a new high for the year at 87 and the close At 66 showed a net gain of 2 points lor tne day. 1 ne riscaj year closed April HO, was thr mnt successful in the history of the company, but it is generally be lieved tnHt wim a continuation of opera tlons at the current rate, 1922 should be ven better. ChVsapeake &. Ohio was fractionally higher In moderate trading here today, although current operations of the com pany are showing very good results. As quarter earnings were $4.04 per share, or an annual rate of $12.15. as compared with actual earnings of $6.68 per share In 1921. March gross of the company was $7,832,296. an Increase of 10 par cent over the same months a year ago. m m m Columbia Cos & Electric touched 89 i today, this being a new high record for all time. The close at 89 showed a net aln for the day of one point. It is be ttered here that current earnings whjah are running1 at the rate of $13.50 a shve, justify mora than the present $6 annual dividend. a a Otis Steel is now operating at or very near full capacity and it is reported that the only effect that the coal strike has had upon this company has been the de lay la blowing in of pig Iron furnaces. Money was again easier today and . dropped back to per cent, going a tep further on the promise held out by bankers last week that the weak-end advance would only be a flurry. Time money rates are still unchanged at 4 for short maturities and 4U for longer terms. This is one of the factors which is austalning the constructionist element in their hope that the advance may be ex tended further before a real profit-taking raaction may be logically expected. m m m Steel stocks, especially those mentioned In the coming steel merger, are rather qnlet. Officials and engineers of the seven companies Inspected the plant of the Re public Iron & Steel company today and tomorrow are expected to take in the Briar Hill plant. a a a With advances from the raw wool mar kets becoming more optimistic daily, buy ing of American wool has been of a very good character and the issue added an other point today. Accumulation of the atock Is based on the report that at the present time the American woolen plant are operating at about 85 per cent of ca pacity . C R I & P ref 4s 1935 824 olo Sou rf ex 44s i3o Colo Sou 4s 1929 92 Del & Hudson cv 5s 1935 96 Del 6 Hudson 7s 1930 109 D & R G cv 4s 1936 79 D R & G ref 5s 1955 48 fih-ie P L 4s 1996 64 Erie con 4s A 1953 49 Erie B 1953 49 Erie D 1953 51 Erie Pa C G 4s 1951 87 Gt Nor 4 8 196 1 90 Gt Nor 7s 1936 109 Gt Trunk 6s 1936 104 Gt Trunk 7s '. 1940 113 111 Cent Jt 5s 1963 97 111 Cen ref 4s 1955 87 K C Sou ref 5s 1950 88 Keo A Des M 1st 5s 1923 90 L S & M 8 4i 1931 92 1. fc N 7s 1930 107 L, & N' uni 4s 1940 90 M St P & S S M 63 1946 102 M K ft T 4s 1990 81 P gen 4s 1975 65 M P ref 5s 1923 100 M P ref 5s 1926 98 NYC deb 4s 1934 90 M Y C con 4s 1998 83 NYC ref imp 4V-S 2013 87 N Y C cv deb 6s 1935 102 NYC coll 7s 1930 107 N Y X H ft H cv 6s 1948 83 M O Tex ft Mex 5s 193D o? N P P L 4s 1997 86 N P 6s 2047 86 N P Gt. Nor Jt 6s 1936 106 O S L ref 4s 1929 91 Penna 6s 1936 109 Penna gen 4s 1965 90 Penna 4s I960 97 Penna gen 5s 1968 99 Penna 7s 1930 109 Reading gen 4s 1997 85 S A L. 4s 1950 61 S A L 5s 1949 25 S A L 6s A 1945 58 Sou Ry con 5s 1994 95 So Pac cv 4s 1929 91 So Pac ref 4s 1955 87 So Pac sf term 4s 1950 82 S P conv 5s 1934 101 St L .& S F, P L 4s A 1950 73 St L ft S P gen 5s ..1931 98 St. L. & S F. P L 5s B 1950 88 St L, ft S F gen 6s 1931 103 St. Li ft S F adj 6s 1955 81 St Li ft S F inc 6s 1960 69 St L ft S W 1st 5s 1952 81 St L ft S W con 4s 1932 76 St L ft S W 1st 4s 1989 78 Tex Pac 1st 5s 2000 95 Union Pacific 1st 4s 1947 91 Union Pac cv 4s 1927 94 Union Pac ref 4s 2008 86 Union Pac &a 1928 103 Union Tank 7s 1930 103 Wabash 1st 5s ...1939 97 Wabash 2d 5s 1939 86 West Pac 5s 1946 87 Industrials Am Agr Chem 7s 1941 Am Smelting 1st 5s 1947 Am Tobacco 7s 1922 do 7s 1923 Armour 4s 1939 Bethlehem Steel 7s 1923 do ref 6s 1942 Cerro de Pasco 8s 1931 Chile conv 6s A 1932 do conv 7s 1923 Columbia Graph Ss 1925 Copper Exp 8s 1923 Colorado F & I gen 5s 1943 Colorado Ind 5s 1934 Cuban Am Sugar 8s 1931 Cuban Cane conv 7s. 1930 uutluen becur conv 5s 1927 BONO MARKET IRREGULAR TRACTIONS OXLY DOMESTIC ISSUES TO HOLD CP. Diamond Match 7ss 1931 Dupont 7)4s 1931 Empire Gas Fuel 63 1924 Kisk Ss iftAi Gen Electric deb Gs 1952 do 6s 1&52 Goodrich 7a 1925 Goodyear 83 1941 Heinz 7a 1930 Hershey 7 4s 1930 111 Steel deb 4s 1940 Ind Steel 03 1952 Int Agri 5a i32 ..1941 . .1931 . . 1 930 ..1923 . .1950 . .1951 . .1944 . .1951 . .1944 . . 1 036 . . 1930 . .1923 ..1940 . .1922 . . 1951 . . 1941 ..1947 . . 1930 . .1963 ..1923 . .1932 . .1922 . .193S . . 1936 . . 1841 . .1928 ..1925 ..1931 ..1925 . . 1929 . . 1946 : .1925 . . 1 1H0 . .1945 . .1937 . . 1 966 . .1966 . .1966 . . i:j: . .1958 . .1966 . .1930 . .1943 ..1341 Coppers as a group have been holding; rather quiet but such stocks as Kenne cott. Utah. Anaconda and other leaders how the effect of accumulation. Export demand for copper metal continues strong and the. slow hut steady improvement In tha entire metal industry is showing no let-up. Demand for steel has been very ffocwl and the. same actuating causes be hind this demand also mean potential demand for copper. The Woolworth report, issued today, ahowed record-breaking business for April as well as for the first four months of the year. The showing made in April alone, amounting to $15,448,943. repre sents an increase of J2.471.469. It Is gen erally believed that 1922 earnings should stab ish a new high record for the com pany, which is now operating 1155 stores. This includes IS new stores which have opened up since January. The company's financial position is also very strong and at the present time cash on hand amounts to about $9.0IM.)OO. the company being free of loans of any kind. Maxwell Motors A-l, advanced th-ee points today with the B stock up one half poini. This company is at present turning out about 7IUM1 cars a month with business improving at about the same rate as that of the other low in the motor companies. It Is said that the new model or the company Is responsible for the in crease in orders. Int Marine Kelly Springfield Ss . Kennecott 7a Lack Steel 5s do 1st 5s Liggett & Myers os. . ao is Loriilard 5s do 7s Midvaie 5s Morris & Co 7s Procter & Gamble 7s. Uepublic 1 & S 5s. . . . Sears Roe 7s Steel & Tube 7s I'ni Drug 8s U S Ru 1st ref 5s . . . do 7V.S U s Steel sf 5s Va Chem 5s Va Car Chem 7s ... West Elec 5s West U T col Tr 5s. . . West Union 6s wnson 1st os 63 West Eiec 7s Westlnghouse 7 udiic utilities Amn I.t & Tran 6s . . . Amn Tel coll 4s do ,s , , Amn Tel 6s Bell Tel of Pa 7a B R T 5s I Gas uni 5s Cities Service 7s B ... City Service 7s C do 7s D Con Gas cv 7s nt Met 41-s Int R T ref 5a Laclede Gas 7a , Mont Power 5s A .... Northwest Tel 7s . Pac Tel 5s 1937 Fac Gas 5s 1942 Oil bonds Anglo Amn 7Ha 1925 Atlantic Kef 6V.3 1931 Pan Amn 7s 1930 Mex Pet cv 8s 1936 clalr 1 ',;3 1925 B O Cal 7s 1931 Tidewater Oil 64s 1931 Foreign government bonds Argentine 2d 7a 1923 do til os 1945 Belgium Ss 1940 Bergen 8s 1945 Herns Ha 1945 Christiana 8s 1945 uuenhacen 5'?3 1944 Danish consol 8s 1946 French cities 6s 1934 Rus ruble 64s 1926 Swedish govt 6s 1939 D S Mex 4s 1954 do ext 5s 194." Uruguay ext 5a Zurich 8s 1945 Foreign government city bonds Berlin 4s ireater Berlin 4s Hamburg 4s Bremen 4s ... Cologne 4s Dresden 4s do 43 Dusseldorf 4s Frankfort 4s Leipzig 4a do 4VaS Munich 4s Stuttgart 4s Essen 4s Bremen 4s Hamburg 48 French internal 4s 1917 do victory 5s 1920 Belgian restoration 5s British 2lj per cent consols Ital Cons war loan 5 per cent Curb bonds Allied Packers 6s Am Tel - Ten 6s 1922 do 1924 1924 Anaconda Copper 6s do 7s . Anglo-Am Oil 7118 Armour A Co 7a Beth Steel 7a 1935 Copper Ex Aasn Ss ll'lll do 83 1925 Galena Signal Oil 7s Grand Trunk 69 Gulf Oil Co 7a Humble Oil 7a Inter Rapid Tran 7s l.ibby McX & I.ibby 7s Rears Roe 7s 3-year 1923 So est Tel 7a Stand Oil X Y 633 1933 do 7s Mag Swift & Co 7s 1925 do 7s 1931 Texas Co 7s notes ... Vacuum Oil 7s Bid. 105 84 44 4 108 107 100 106 99 loey. 100 116?, 104 102 aovi 89 80 99 10S 106-S 99 90 85 104 84 114 80 104 101 95 101 102 1084 sn 108 102 '4 99 89 100 99 110 99 V. 82 107 107 106 Demand for Liberties Falls Off British IiOans Favored by Higher Sterling Rates. NEW YORK, May 5. Today's bond market was dull and irregular, except for the further activity and strength shown by local tractions. Brooklyn Rapid Transit issues continued to advance on deveiopmenta Indicating less ening of the financial strain that re sulted in the company's organization. Buying of liberties was decidedly lighter. The entire series, barring the 3s and first 4s, closed unchanged or at trifling deciines. Foreign war issues followed a similar course, although the British loans of 1922 and 1928 strengthened on the high Quo tations for sterling exchange. French 7s and Ss showed occasional heaviness, while Japanese and Mexican offerings were steady. Chicago & Eastern Illinois 5s: were strongest of the rails, but transportationa. aa a rule, closed at mixed gains and The day brought two new underwritings of more than ordinary volume. A $3, 000.000 Utah Power & Light 6 per cent gold debenture and ?S,500,000 Remington 6 per cent first mortgage bond Issue were oversubscribed. Total bond sales, par value, were ?14, 597,000. Renewed selling for both accounts, in which profit-taking seemed to be most ef fective, accounted chiefly for the inter vals of hesitancy and comparative dull ness manifested by today's stock market. Dealings during the early and inter mediate periods were smaller and more circumscribed as to separate Issues than at any time since last March. The more active pace of the later operations, how ever, lifted tne day s total transactions to 1.125,000 shares. Oils, as a group, again dominated the list in prominence and strength, notably the secondary domestic shares. High nriced oils cave way in the final hour, re acting one to four points from previous maximums. What promised to be a formidable set back toward the close was checked by a sudden demand for rails, including South ern Pacific, New Haven and a few coalers, of which Pittsburg & West Virginia was moat conspicuous. Tobaccos, textiles, sugar specialties and the local tractions and utilities were one to two points up at their best, but in many instances these gains were Impaired or entirely cancelled. Shippings were under pressure an au thoritative statements wnicn uepieraicu ri-mors of an early resumption of the div idend on Mercantile Marine common. Sell ing of May department stores followed the failure of the directors to declare an exoected "extra" dividend. Both domestio and foreign monetary conditions were heloful to the stock mar kefs constructive side. Call loans opened and renewed into next week at 4 per cent, but dropped to 3 per cent in tne afternoon. Exchange on London rose steadily to S4.44 for demand bills, the highest rate for this remittance in hnore than two years. All continental quotations were bet ter, albeit gaina in the allied group were relatively nominal. South American rates hardened, a belated response to yester day's successful offering of the Brazilian loan here. CLOSING STOCK QUOTATIONS. Furnished by the Overbeck & ' Cocke company of Portland: Nor Amn Nat Biscuit . .. Nat Enamel. . Nat Lead Nevada Con. . . New Haven... Norf & West.. Nor Pacific. . . Nov Sco Steel. N Y Air Brak N Y Central. . Okla Prod Ref Ontario Silver Otis Steel Pacific Dev. . . Pac Gas & El. Punta Allegre Pacizio oil. . . Pan Amn Pet. do i3 . Penna Peo Gas . . Fere Mara Pure Oil 4,000 Phillips Pete.. 3,000 Pierce Arrow. 7,200 Pierce Oil 6,900 Pitts Coal 1,300 Pitta it W Va. 6,100 Pressed St C. 300 Pullman Ray Cons Reading Remington . . . Reologle Steel Republic I & S 700 "766 500 700 46.100 800 2,000 ' 300 4.200 700 1,200 500 5,700 700 3.300 51.600 0.700 2.600 1.700 300 1.500 1,000 1.800 5,600 500 2.300 5,400 58 40 93 17 28 107 79 81 S 28 14 10 71 40 T4 67 65 58 42 87 32 34 44 22 10 64 34 80 124 16 78 35 31 64 58 '46" ' 83 16 27 106 7 80 3 28 .14 8 70 40 65 1)4 57 41 87 32 33 43 21 10 63 33 78 123 16 77 84 01 U4 0S 151 40 83 17 28 106 30 78 80 3 28 14 9 70 40 66 64 67 41 87 32 33 43 22 10 63 34 79 123 16 77 34 31 64 do pf d 88 81 1 8S 108 64 nr. 137 97 91 118 IS 74 99 85 106 87 82 103 103 ion 105 104 106 103 100 85 10C 110 112 111 83 110 87 4 102 57 07 74 113 3 3 3 4 4 3 4 3 4 4 4 4 3 4 4 3 58 71 76 53 43 79 100 101 100 1 !.'! 102 102 103 103 105 104 101 97 98 101 102 Hlti 105 101 102 101 101; OENKBAL BUSINESS HAS GOOD TONE Buying Long Unexpected developments in the con dition of H-nry P. Davison of J p Morgan A Co. have made necessary a second operation, which will be performed at noon tomorrow at Mr. Davison's country home at Glen Cove. L. I, " New York Bonds. Furnished by Ilerria & Rhodea. Inc Portland. Railroad bonds JLtch gen 4 A C L 4s M Z, 7a B O gold 4a B O con 4 a cv B O ref 5a Canada Southern 5a . . Canadian Nor 6s .. Canadian Nor 7s..... Cent Pac 1st 4s Chgo N West 6 ... Ches & Ohio cv 4s Chea tfc Ohio gen 4s Ches & Ohio cv 5a Chea & Ohio con 5s . . C B 4 (3 111 dlv 4a . . . C & West Ind 4s C O &. V 4s C M & St P 4s C M & St P cv 4c . C M & St P deb 4a . C M St P gn 4a A . C M & St P cv 5s . . . . C M & St Px&r 4 '-8 . Chgo N W gen 4s Chgo N W 6s ChaTO N W 7 19S0 1948 1933 1995 1962 1946 1940 1949 1936 1930 1992 1946 1939 1949 1952 1959 1925 1923 1934 1 S99 2014 2014 1 987 1936 1830 88 106 hi 81 Sl 85 98 112 114 Mi 109 88 88 91 99 80 74 62 80 55 77 76 68 86 109 M7 Delayed at Last Made Neceshary. NEW YORK. May 5. Dun's Review to morrow will say: Constructive elements that have been gathering force for sometime past are now exerting a more potent influence on gen eral business. Improvement in sentiment, which "has recently become clearly de fined, 13 aupported by actual gaina in transactions, both in number and in mag nitude and unsatisfactory phases are less conspicuous. Practically without exception, basic in dustries reflect renewed activities, metals, lumber, textiles, hides and leaders in other important lines all disclosing revival and many pricea are at higher levels. Notwithatanding keen competition for orders in different quarters, wholesale mar kets are more favorable to sellers and the trend toward firmness may conceiv ably be carried further. From a condition of hesitation and waiting, buying in va rious channels, although continuing con servative has quickened and broadened and diversity of demand la a more noticeable feature. Purchasing had been so long de layed in many instances that replenish ment of supplies waa finally necessitated and operations of this character constitute much of the current business. Weekly bank clearings were $7,690,931,000. Record Price for Curb Seat. NEW YORK. May 6. A new record has been made for a seat on the New York curb market Yesterday a membership was sold for $6900. The previous record, made a tew weeks ago, waa teooih Adams Exp . . Advance Rum. do pfd Agr Chem .... Ajax Rubber. . Alaska Gold . Alaska Juneau Allied Chem . Allis-Chal do pfd.- Am Beet Sug. Am Bosch . . . Am Can Co . . do pfd Am Car &. Fd do pfd Am Cot Oil . . do pfd Am Dr Synd .. Am H & L . . do pfd Am Ice Am Intl Corp.. Am Linseed . . do pfd Am Loco do pfd Am Saf Razor Am Sh & Com Am Smelter . . do pfd Am Steel Fdy. Am Sugar . . . do pfd Am Sumatra . Am Tel & Tel. Am Tobacco . . do "B" Am Wool .... do pfd Am W P pfd.. Am Zinc Anaconda .... Assd 'Oil Atchison At Cst Line.. Atl G & W I. . Baldwin Loco. do pfd Balto & Ohio.. do pfd Barns Corp . . Beth Steel "B" Booth Fish . . . B R T Butte C & Z. Butte & Sup. . Burns Bros. . . Caddo Oil Calif Packing Calif Pet 1,500 do pfd Canadian Pac. Cen Leather . . Cerro de Pasco Chand Motor . Chic & N W. . Chi Gt W do pfd Chill Cop Chino C M St P do pfd Coco Cola . . . C & O Colo F & I. . . Colo So Col Gas & El. Colum Graph Con Gas .... Cons Cigars .. Cont Can .... Cit Ser Bkrs.. Corn Prod . . . do pfd Cosden Oil .. C R I & P. . . do A pfd. do "B" pfd. Crucible do pfd Cuba Cane . .. do pfd Cub Am Sug. Del &. Hud... Dome Mines... Del t Lack... Dav Chem . . . Endicott John Erie do 1st pfd... Elec Stor Bty Fam Play . . . Fed Min & Sm do pfd Fisk Tire . . . Gaston Wma . Gen Cigars . . Gen Elec .... Gen Motor Gen Alden Gen Asphalt-. 2.100 Goodrich 1,500 Goodyear .... Granby Gt Nor Ore. . . Gt Nor pfd . . Green Can . . . Gulf S Steel. . Houston Oil. . Hupp Motor... Ills Cent Inspiration . .. Int Agr Corp Iivterboro do pfd Interstate Call Int Harv- .... Int Merc Mar. do pfd Int Nickel . . . Int Paper . . . Invincible Oil. Island Oil ... Jewel Tea . . . K C So do pfd Kelly Spgfield Kennecott - . . Keystone Tire LacKa steel.. Lee Tire Lehigh Valley. Loriilard Loew Theaters L & N Marland Oil. .. Mar & Parry-. May stores Mex Pet... Miami Mid States Oil Midvaie Steel. M K & T. Wi . do pfd Mont Power... Mont Ward. . . Mo Pac do pfd USIFa SSM Sales. High. Low. Bid 300 64 64 64 18 46 90O 40 39 39 1,800 17 17 17 1.000 1 10,400 68 67 67 4.900 49 48 48 500 99 98 87 1,200 40 39 39 700 47 46 46 900 48 48 48 104 600 162 161 161 119 2,500 27 26 26 65 200 300 300 300 800 1.100 400 1.900 1,606 700 1.40O 200 2.200 2,100 200 600 600 4,300 3.300 1,000 500 400 100 2,400 500 2.100 1,500 1.800 12,500 5,600 100 000 3.400 6s.H0 ' '766 3.100 500 500 3,100 L10O 600 3,500 1,100 700 300 6,100 400 2,300 2,700 2,900 2.000 6.S00 '6.466 4.400 22,700 200 200 'f266 100 9.200 5.400 "'266 2,600 200 600 700 1,400 "l666 200 1,700 900 3,900 600 1,300 3,000 ' "266 3.300 106 46 34 56 116 18 58 OS's 39 76 102 35 122 143 139 91 108 33 1S 53 12S 10O 103 36 118 '47 BOS 53 78 30 17 13 78 58 142 38 37 TO 75 9 22 20 14 66 106 45 33 55 115 88 39 75 102 34 122 141 137 92 108 33 18 52 128 99 101 36 117 "47 60 63 77 25 ' 36" ' 137 13 65 33 '89 4 120 25 60 i03' ' 116 44 45 'si 66 93 1.300 300 . .. 12.000 2.500 115 61 84 13 23 173 82 "44 ' 19 '72 163 12 51 63 41 67 141 37 37 74 74 9 22 1 28 26 43 55 64 32 "88" 4 117 66 iot 116 43 44 81 64 92 13 33 21 '27 115 60 84 13 23 170 81 44 18 162 12 48 62 41 600 600 3,1X10 200 1.300 9.SO0 300 400 400 200 7,400 2.5O0 2,200 200 6.300 4.000 3.100 1,600 700 7,200 S00 1,600 15.300 7.400 1.900 200 3.500 800 3.800 200 4.S00 1.200 900 19.200 800 4,800 3.900 3.700 1.200 100 3.530 1.200 3.100 100 27 39 76 31 85 83 18 105 41 11 2 6 7 96 84 ) 18 52 17 1 21 28 'i3 34 24 59 34 63 152 17 119 31 120 133 29 15 27 39 75 31 83 81 18 104 40 11 2 5 7 96 24 u, S3 1T 51 17 21 27 52 33 23 58 33 62 150 17 119 30 31 119 130 29 14 37 17 40 72 21 23 56 60 15 66 106 45 33 54 115 116 7 17 6-7 98 39 75 102 34 1 22 142 138 93 lOS 32 18 62 128 100 102 36 117 112 47 60 53 78 7 26 7 34 137 13 78 57 96 142 37 37 S 22 10 28 27 43 63 63 33 49 89 4 120 65 24 102 113 44 45 86 81 65 82 15 33 21 121 27 115 n. 84 13 23 171 81 12 44 19 163 12 60 63 41 13 39 75 31 83 82 18 105 40 11 2 B 7 96 25 84 17",, 51 17 21 28 67 53 33 23 59 33 63 151 17 119 30 31 119 131 29 14 37 17 40 72 21 23 57 60 Republic Mot. 1,200 Koyal D uit.. xu.zuu Ry Steel Sprg 200 Saxon Motors Sears Roebuck 1,000 Shattuck, Ariz 4,500 Shell T & T. . 700 Sinclair 20,400 Stand Oil Ind Stand Oil N J 10,100 SIoss Shef 100 Sou Pacific . . 22,200 Sou Ry 1.400 Stand Oil Cal 8,600 St L & S F. . TOO Stromberg Crb 4,000 Studebaker .. 18,000 Swift & Co Tenn Cp & Ch 300 Texas Oil 18,900 Texas Pacific. 400 Tex Pc C & O 11.500 Too Prod'cts.. 2,300 Tran Con Oil.. 4,500 Union Oil Del. 30,400 Union Pac . . . 2,700 United Alloy.. 100 United Fd Prd 40O United Fruit.. 200 Union B & P U S C I Pipe Uted Ret Sts 2,600 V S Ind AIco. 900 U S Rub 2,100 do 1st pfd. . 200 U S Smiting.. 400 U S Steel 10,500 do pfd 200 Utah Copper. . 1,300 Va Chem 300 do pfd 100 Vanadium Stl 5,700 Vivandou 10,000 Wabash 3,100 do A pfd. . . 1,600 do B pfd. . . 100 Well Fargo . . 100 Western Pc do nfd Western Union 100 Westhous A B 200 do E & M. . 1,400 West Md 1,000 White Motors. 1,200 Willys-Overld 1,400 do pfd Wilson Packg. 100 Wisconsin Cen Woolworth . . 300 Worth Pump . . 400 W & L E 4,900 White Oil 1,100 8 85 101 '75 9 47 33 107' 194 44 92 25 117 30 55 121 102 11 49 34 81 68 12 23 13S 34 5 142 81i 63 101 '75 8 46 32 106 189 44 80 24 113 30 54 118 102 11 48 34 32 68 11 22 137 34 5 142 53 50 66 105 40 97 119 65 35 79 44 13 11 32 21 78 52 49 63 105 40 97 118 64 85 79 41 13 10 31 21 78 9S 96 61 11 49 8 98 95 61 11 48 T 46 46 160 52 11 160 62 12 10 64 101 3 75 8 47 32 106 189 43 91 24 115 SO 641., 120 1U2 11 48 34 bO'-s 68 11 23 ii'- s 34 5 14L M 34 62 49 65 104 39 97 118 CO ?4 78 43 13 11 31 21 78 21 98 95 61 11 48 7 39 45 28 160 52 12 10 Allouez 25 Arcadian 3 Bingham Mines ............. 15 Balakalia 3 Cal & Arizona 59 Calumet & Hecla 270 New Corn 17 Centennial 10 Copper Range 43 Davis Daly 8 Daly West 2 East Butte 11 Franklin Mining 2 Hancock 3 Helvetia 1 Island Creek Ill Keewanaw 2 Kerr Lake 3 Lake Copper 4 La Salle 1 Michigan 2 Mass Con 3 Mohawk 57 May Old Colony 5 Mason Valley 2 North Butte 12 Nipissing 5 North Lake 30 Old Dom Cop 23 Osceola Mining 34 Obiiawa 2 Quincy Mining 43 'A Pond Creek 21 Isle Royalle 23 South Lake 45 Sup. Boston 1 South Utah 3 Trinity Copper 2 Tuoloumne 65 United Shoe Mach 41 do pfd 25 Utah Metals 1 Utah Con 2 U S Mining 40 do pfd 45 Utah Apex 3 Ventura 29 Victoria 1 Winona 1 Wolverine 12 Wyandott 40 Shannon 90 26 3 15 5 60 ii 12 44 8 3 11 2 3 1 112 I 4 4 3 3 58 5 2 13 6 50 25 38 3 44 21 24 45 1 5 2 70 41 26 1 2 41 46 3 29 13 SO 100 Liberty Bond Quotations. Liberty bond and victory note quota tions furnished by the Overbeck & Cooke company. Portland: Liberty 3s do 1st 4s do 2d 4s. . . . do 1st 4s.. do 2d 4s. . do 3d 4s. . do 4th 4s. . Victory 4 s... do 3a Open. 88.3." . 99.70 . 9.9.48 . 99.82 . 99.84 High. 80.52 99.90 99.50 99.84 Closinf Low. Bid. 99.36 89.70 99.44 99.76 99.82 100.56 100.60 100.54 99,36 99.60 98.40 89.70 89.48 99.78 Mi.SS 100.56 100.02 Money, Silver, Etc. NEW YORK, May 5. Call money, easier, high. 4 per cent; low, 3 per cent; rul ing rate, 4 per cent; closing bid, 3 per cent; offered at 3 per cent; last lean, per cent. Call loans against accept ances, 3 per cent. Time oans. firmer tiu aays, -twfz per cent; 90 days, 44 per cent; six V (a,4 per cent. mercantile paper, 44 per months. Prime cent. May -Bar silver, 33d per LONDON ounce. Money 1 per cent. Discount rates, short and three-months bills, 2 5-162 per cent. Swift & Co. Stocks. Clnctnir nrices of Swift & Co. stocks at Chicago were reported by the Overbeck & Cooke company of Portland as follows: Swift & Co 11 National Leather - o new 7f Swift International o?? Libby -" SHARP ADVANCE IN STERLING RATE Exchange Quotation nt Highest Foint in Nearly Three Years. NEW YORK, May 5. Sterling exchange rutes here today reacnea tne nigneue iiumi in nearly three years, demand bills selling at $4 44, an overnight advance of 1 center." Heavy buying here and in London to meet cotton and grain requirements, and the excellent condition of the British trade balance were believed to be re sponsible for the improved rates. Other continental rates were firm to strong, most of them making fractional advances. Sterling rates have been improving for several weeks. Ttie low record was made February 4, 1920, when demand bills fell to $3 IS and international currencies gen erally were in a state of collapse. The normal pre-war par rate on sterling la $4.86. Foreign Exchange. Foreign exchange rates at the close of business yesterday furnished by the North western National bank of Portland. The amount quoted in la the equivalent of the foreign unit in Lnuea amies '"" Country Unit. Austria, kronen Belgium, francs Bulgaria, leva Czecho-Slovakla, kronen Denmark, kroner England, pounds sterling Finland, finmark France, francs Germany, marks Greece, drachmas Holland, guilders Hungary, kronen Italy, lire Jugo-Slavia. kronen Norway, kroner Portugal, escudos Roumania Rate. .0003 .0S4S .0080 .0202 .2127 4.4050 .0215 .0925 .0037 .0455 .3838 .0020 .0540 .0045 .1875. .0857 lei 0078 Serbia, dinara 0185 Spain, pesetas 1562 Sweden, kroner 2595 Switzerland, francs 1938 China-Hongkong, local currency. . . .5750 Shanghai,, taels 7750 Japan, yen 4800 Foreign Bonds. Furnished by the Overbeck company of Portland: Belgian rest 5s do prem 5s do 7s 1945 do 8s 1925 Chile 63 1932 do 7s 1923 British 5s 1922 do 53 1927 do 5s .n 1929 do vky 4s do ref 4s Bordeaux 63 1934 Canadian 5a 1937 do 5a 1928 do 53 1929 do 5s 1931 do 5s 1927 Chinese os 1951 Chilean 8s C1941 Russ currency Denmark 8s 1945 Dan Muni 8s 1945 French 4a 1917 do 6a 1920 do 5s 1931 do 7s 1941 do 8s 1945 German W L 5a Berlin 4s Hamburg 4s Hamburg 4s Leipslg 4s dO 03 Munich 4s do 5s Frankfort 4s Italian 5s 1918 Jap 4s 1931 do 1st 4s 1925 do 2d 4s 1925 Norway Ss 1940 Russian 53 1921 do os 1928 do 63 1919 Swiss 5s 1929 Swiss 8s San Paulo 83 U K. 83 do 5s . . , do os Swedish 6s . . .1940 . .1922 . .1029 ..1937 . . 1039 Bid. 74 80 108 108 90 102 90 92 82 88 78 7 98 98 101 88 98 51 105 6 111 111 57 80 70 102 104 2 2 3 3 2 4 3 4 3 41 77 90 90 111 4 23 101 117 105 107 107 103 102 Ask. 77 83 10S 103 91 103 92 94 95 90 79 87 994 99 101 99 99 03 106 7 111 111 58 83 7iy 102 lU.i 3 3 3 4 4 5 4 5 4 42 77 91 90 112 25 5 27 101 118 -106 107 107 103 102 ( Personal v K letter ! C t fit sy- I Xal ( patterns lHjrff I in Oak and "Wll t III jT drawer CP WEST-MADE the 50 -Tear Desk Did you ever hear of a guaranteed desk? Here it is! WEST-MADE! We call it the 50-year desk but guar antee it without limit against de fects of workmanship or material ! WEST-MADE desks are now sold in every State west of th Rockies. They're used in the best-juipped offices of San Francisco, Los Angeles, Portland and Seattle. West-Made desks are rugged, niassive, business-like. They have many exclusive features that increase efficiency. Drawers are scientifically arranged. Every space is built for a certain purpose. Added to the recognized merit, is a substantial saving in freight, be cause West-Made desks are built on the Pacific Coast. Different models in standard, harmonious designs, make them equally suitable for private or general office. See the complete West-Made line at leading ueTice furniture dealers from Seattle to San Diego. WEST-MADE DESK COMPANY Manufacturers Portland, U. S. A. Sold in Portland by Kilham Stationery & Printing Co. Glass & Prudhomme Co. Bushong & Co futures 18.85c; Cotton Market. NEW YORK, May 5. Cotton opened steady: May 19.65c; July. October, 18.95c; December, 19c ; January, 18.83c. Cotton futures closed steady; May. 19.95c: July, IS. 78c: October. 18.S9c: De cember, 18.93c; January, 18.80. fapot cotton, quiet; middling 19.80c. Sugar Market. NEW YORK, May 5. Raw sugar, cen trifugal, 3.98c; refined, fine granulated, .'5 5.40c. SAN FRANCISCO, May 5. California- Hawaiian raw sugar, 3.995c. WHEAT OUTLOOK SPOTTED CONDITIONS VERY UNEVEN IN WINTER GRAIN BELT. NEW firm. cables. 5.37; 8.38; .35 ; S8.M ; YORK, May 5. Foreign exchange Great Britain, demand $4.44H ; $4.44 ; 60-day bills on banks ; France, demand, 9.17; Italy, demand, $5.36; Belgium, demand, 8.37 ; Germany, demand, .45 Holland, demand Norway, demand cables, cables, cables, . - - . 38.33; cables. 18.60; Sweden, demand, 25.89; Denmark, demand, 21.18; Switzerland, demand 19.30; Spain, demand, 15.53; Greece, demand, 4.52; Poland, de mand, .02; Czechoslovakia, demand, 2.02; Argentine, demand, 36.50; Brazil, demand 13.75; Montreal, 98. Standard Oil Stocks. Standard Oil quotations furnished Overbeck & Cooke company of Portland : Bid. Asked. Anglo 21 21 hi Borne Scrysmcr 265 285 Buckeye 98 99 Cheesbrough 200 205 do pfd 109 112 Continental 146 150 Crescent 34 35 Cumberland 140 150 Eureka 103 105 Galena common 59 61 do old pfd 108 112 do new pfd 112 115 Illinois Pipe 195 200 Indiana Pipe 99 102 National Transit 30 31 New York Transit 175 179 Northern Pipe 107 109 Ohio Oil 329 332 International Pete 224 22 Penn Mex 30 32 Prairie Oil 625 635 Prairie Pipe 230 234 Solar Refining 265 275 Southern Pipe 104 106 South Penn Oil 225 230 S W Penn Oil 63 65 S O Indiana 106 107 S O Kansas 565 582 S O Kentucky 81 82 S O New York 418 422 S O Ohio 465 475 do pfd 117 119 Swan & Finch 35 40 Vacuum 425 430 Wash I n gt o n 20 30 S O Nebraska 200 210 Imperial Oil 116 118 Cash Demand at Chicago Reflects Poor Domestic Trade in Flour. The weekly wheat review by Logan & Bryan, of Chicago, received yesterday by Overbeck & Cooke company of Port- and, follows: Wheat The acknowledged close adjust ment of supplies this year makes the new crop outlook of greater importance than ordinarily. Our crop reporter who just returned from a trip through Illinois, Missouri, Kansas, Oklahoma and Texas, finds conditions: Illinois Wheat is generally in good con dition except in bottom lands, where a con siderable acreage has been drowned out and will probably be a total loss. The abandoned acreage m the aggregate, how ever, wall be comparatively small. Missouri Prospects are good except some districts in the west part of the state, where growth is not so good as could be. The eastern half of Kansas is in almost perfect condition, with a thick stand In most places. About the only thing that coujd be said against it is the danger of r.s growing too last ana later on ioaging. The western half of Kansas is very un even, streaked and spotted, but generally in poor condition. The acreage abandoned is certain to be very large. Recent rains were very beneficial in this part of the state, but the' stand in many fields is so thin and the plants so feeble that the weeds which are already starting will probably make a much better growth within the next few weeks than the wheat plants. It is still anybody's guess what the state will raise. Oklahoma conditions are very similar to Kansas, the crop being in good shape in the norfch central part of the state, but poor southwest. Green bugs have played havoc over a good area and in some dis tricts there will be from 6 to 50 per cent damage from this pest. The Texas panhandle is in poor con dition and probably 40 per cent of the acreage will be abandoned. Sentiment in the wheat trade recently lias been quite bullish, but apparently is ill timed. The cash situation has failed to improve for the reason that domestic flour trade continues on a hand-to-mouth basis, while the bulk of the foreign de mand is for new-crop wheat and the buy ing of futures against these sales goes into the months that are certain to be the ob ject of heavy hedging pressure. During the week rumor were current of wheat coming to Chicago from all directions for delivery on May contracts. Some of the reports were probably unfounded, but it was possible to confirm enough to make longs uneasy and towards the end of the week liquidation increased. STOBAGEJOMIllnNT NO IiACK OF SPACE FOR MAY WHEAT AT CHICAGO. Grain Moving Toward City From All Quarters and Prices Break Sharply; News Favorable. FARMERS SEEK FREIGHT CUTS Mining Stocks at Boston. Bid. Arizona Commercial 9 Adventure 60 Ahmeek 61 Higher Tariff of Wartime Expires In July. Reductions Due. (Copyright by Public Ledger Company. Published by Arrangement.) OTTAWA, May 5. (Special.) The farm ers' party in parliamen t, composing about 30 per cent of the membership. Is likely to endeavor to force down freight rates, es pecially In the west, irrespective of any opinion the railway commission may hold. From 1S97 to the year after the outbreak of the war, rates on wheat and flour mov ing eastward from the prairies to the head of the great lakes, and on a number of basic commodities moving westward from points east of the head of the lakes, were kept in check by the Crow's Nest Pass agreement, negotiated in 1897 between the dominion government and the Canadian Pacific railroad, by which, in return for certain cash and land grants, the railroad agreed to construct the Crow's Nest Pass road from Alberta Into southern British Columbia. The company also bound itself to grant certain stated reductions in rates. So long as this agreement was in force the railway commission could not Increase rates beyond the level provided for therein, and it was only when the agreement was suspended for a period during the war that rates could be raised to their wartime level, the government having suspended it under the war measure act. The period of suspension ends early in July and cannot be extended except by ac tion of parliament. The progressives or farmers are the stumbling block in the way of extension for, from what can be learned they will insist on the agreement being enforced, which will mean a lower scale of rates on quite a number of commodities. CHICAGO, May 5. A sharp break jn the price of wheat took place today follow ing the issuance of a notice that measures were in readiness to provide temporary emergency storage facilities in railroad cars on track here. May delivery was ex ceptionally weak. The market- closed heavy, lc to 3c net lower, with May $1.39 to Sl.99 and July 1.24 to $1.25. Corn lost & c to 1 hi gJlc and oats c to B,kc. In provisions the outcome varied from unchanged figures to 25c decline. In addition to the announcement of steps toward furnishing practically unlim- nlted storage room here, word was received that a single elevator company at Kansas City was loading over 700.000 bushels of wheat for Chicago and that other snip ments from Omaha and St. Louis to Chi cago were expected. Kansas City ship ments of wheat today were reported as 178 carloads, 90 per cent to Chicago, and Omaha. 122 carloads, mostly to Chicago. A majority of traders apparently took the view that too much wheat was coming to Chicago for prices to hold, although ves sels here started loading 300,000 bushels of wheat today for the east, and further lake shipments from here were looked for. Favorable crop reports from t hn sout n- west tended also to stimulate bearish sen timent as to wheat. Slowing down of ex port demand was another factor a nd so. too, was a decline at Liverpool Hscribed increased estimates of the Argentine exportable surplus. Deliveries of wheat here today on May contracts were 172,000 bushels and there were receipts of 131 carloads. Corn and oats declined in value with wheat. Rural offerings of corn to arrive here were somewhat larger. Provision prices turned downward account of realizing sales, which more than offset the influence of foreign buy. lng of future deliveries of lard. Th Chloaa-o eraln letter received yester- day by the Overbeck & Cooke company of Portland follows: Wheat There was persistent pressure on the market throughout the session and the usual display of resistance was not in evidence. News of all descriptions was so uniformly bearish that the trade could not see the necessity of maintaining a bull ish attitude a-t present. All cash markets had a weak tone and export trade was again quiet, although some business was worked on the decline. xne jway jnoweu Tess signs of congestion and many in the trade appeared to be revising their ideas s to the outcome because of increasing evidence that there will be more wheat brought to this market for delivery on contracts than holders will care to take and attempt to merchandise under present conditions. The crop outiooK is rar oei ter than it was two weeks ago and with out a crop scare July wheat around $1.25 looks high. One prominent southwestern authority said present prospects are for a crop of 123,000.000 bushels for the state of Kansas and 35,875,000 bushels for Ok lahoma. The general state of affairs at the moment is conducive to an extension of the downward movement of prices. Corn Held stubborn during the fore noon, but finally gave way to the weak ness in wheat and persistent selling by cash houses against country pressure. Re ceipts of 250 cars met a good demand at yesterday's basis. Export trade was mod erate. Weather has turned favorable for planting and -all reports are to the effect that the acreage will be fully as large. If not larger, than last year on account of reduced oat acreage. We are on the eve of another influx from the country and doubt that the bullish feeling now prev alent will prove well founded until the cash pressure Is out of the way. Oats 'Volume of trade small, but the market held relatively firmer than other grains based on Indications of an im proved shipping outlet from Chicago, as well as northwestern markets. Receipts were estimated at 100 cars and the cash market steady. The demand must im prove materially to result in a bullish sit uation. Rye Moderate trade with evening up in. Mav and hedging in the July by the north west. The seaboard reported a fair ex port business. The cash market was in active and devoid of feature. Leading futures ranged as follows: WHEAT. Open. dark hard northern Montana, $l59'i $1.61; No. 1 hard Montana, $1. 491.52t4 ; No. 1 dark northern, l.S6hi 1.66 : No. 2 dark northern, $1.54 hi 1-62 : No 3 dark northern, $147 & 1.58 ; No. 1 northern, $1.54 iff 1.62 V ; No. 2 northern, $1.52 1.59 ; No. 3 Northern. $1.44 & 154; Durum, $1.27 1.32. Corn No. 2 yellow, 65 67c; No. 8 white. 35 36c. Barley 5364c. Rye $1.02 1,03. Flax $2.84 2.87. KANSAS CITY. May 5. Wheat No. 1 hard, $1.31132. Corn No. 2 mixed, 58c; No. 2 yellow, 5959c; No. 2 white, 575Sc. Barley 54c. ST. LOUIS, May 5. Wheat No. 2 red, $1.46. Corn -No. 2 yellow, 62c; No. 4 yellow, 60$ic; No. 2 whit, 62h!62e. Oats No. 2 white, 41 42c; No. 4 white, 3039c. OMAHA, May 5. Wheat No. 2 red, $1.41 ; No. 3 red. $1.3S; No. 2 hard, $1.40; No. 3 hard, $1.37. Corn No. 2 mixed, No. S mixed. 63 63t:; No. 2 vol low, B3 fl 64c; No. 3 yellow, 62 0f ; No. 2 white, 6364c; No. 3 white. 62c. Oats No. 3 white, 3637c; No. 4 white, 36 37c. Rye 97ctg $1. WINNIPEG. May 5. Wheat No. 1 northern, $1.44; No. 2 northern, $1.38;' No. 3 northern, $1.32. Oats No. 2 white. 53c ; No. 1 feed, 49 hi c ; No. 2 feed, 43 c. Primary Receipts. CHICAGO. May 5. Primary receipts 775,000 bu wheat, against 754.000 bu : 987, 000 bu corn, against 5S3.000 bu; 536,000 bu oats, against 464, 00O bu. Shipments 880.0OO bu wheat, against 820,000 bu; 90-4,000 bu corn, against 1,153, 00(i bu; 871,000 bu oats, against 690.000 bu. fund. The In corporators are : Dr. Carl Hoffman. B. H. Rrett, T. J. Donnho. "arl H. Schaar. Daniel G. Vlcetlrh, William A. Sullivan. B. J. O'Reilly. Patrick U Mur phy, James H. Woods. Arthur It. lloorer, T. J. Ivers. T. J. McCloskey, I. M In caster, Charles E. McKnna, K. K. K-hrer, William K. Lee, R. C. Krnki Nl-k Zsnl dls and Paul Carrlgan, all of Hoattle, aid F. W. Gardner of stanwood. Minneapolis Wheat Futures. MINNEAPOLIS, Minn., May 5. Wheat May, $1.54; July, $1.44. May July Sept. May July May July May July Sept. .$ 1-4: . 1.18 -62 .65 .87 .40 High. Low. $ 1.42 $ 1.39 1.18 CORN. OATS. .38 .40 1.17 .61 -i 64 Clow. $ 1.39 1.24 1.17 .61 -64 .37 .40 MESS PORK. 11.73 11.97 11.50 11.75 LARD. 11,75 11.97 SHORT RIBS. 11.67 11.60 11.70 11.55 .37 .40 11.60 11.82 11.67 11.70 July Wheat No. 2 red, $1.41; No. 2 hard. $1 41l-42. Corn ro. iu'acu, uduo-bl, ci- low 63 64c. OatsNo. 2 white, 40 45c ; No. 3 white, 3942c. Rye No sales. Barley No sales. Timothy seed $4.50 6. Clover seed $1222. Pork Nominal. LArd $11-40. jbjj $1 2.25 18-25. Cash Grain Markets. Furnished by Herrin & Rhodes, Inc, Portland. MINNEAPOLIS, May 5. Wheat No. 1 Winnipeg Wheat Futures. WINNIPEG. Man.. May 5. Wheat May, $1.39 ; July, $1.36. Seattle Grain Market. SEATTLE, May 5. Wheat Hard white, $1.28; soft white, white club, soft red winter, northern spring, $1.27 ; hard red winter, $1.29 ; eastern red Walla, $1.23 ; Big Bend bluestem, $1.50. Hay and feed unchanged. Grain at San Francisco. SAN FRANCISCO, May 5. Wheat Milling, $2.30 2.35; feed, $2. 25 2.35. Barley Feed, $1.35(5)1.40; shipping, $1.45 1.55. Duluth Linseed Market. DL'LUTH, May 6. Flaxseed, $2.78 0 2. 80 hi . Cottonseed OH Futures. Cottonseed oil futures at New York fur nished by Herrin & Rhodes, Inc., Portland: May, $11.8011.90; June, $11.7011.80; July, $11.8011.81; August. $11.7411.75; September, $11.73 11.75; December, $9.80 9.90. Spots closed, $11.80 bid. Dried Fruit at New York. NEW YORK, May C. Apples, quiet. Prunes Steady. Peaches Firm. Spot Cofre Higher. NEW YORK, May 5. The market tr coffee futures closed within a point or two of th best, lst prir being n t un changed to 1 points higher. ial.n wer estimated at about S3.UO0 bags. May. 10.50c; July, 10.35c; September, I0.MK October, 9.98c; December, .84i ; January. U.83c; March. 0.82c. Spot coffeee, firm; Rio 7, II e; Kat 4s, 14f314c. Cost and freighl offst were unchanged to a little higher. Hsntss and 5s were offered at 14. lite in U..1SV for prompt shipment and 13.23c lu 1-) July -September shipment. Me a I Market. NEW YORK, May 5.--'oppcr. firm; elsv trolytlc. spot and uearby, 13 ; Inter. 13SJ 13 c. Tin Esler; spot and nearby, 30.i2e; future-, 30.75c. Iron Steady; prices iinchannt-tl. Lead Firm; spot, G.25& ft.Wtr. Zlno Quiet; East St. Louis .) livery, pot. 5.0505.15c. Antimony Spot. B 25c. Nivil More. SAVANNAH. OSw, May 5. TurpciiitnS, firm, 81c; sales. 205 barrels; receipts, 620 barrels; shipments, 1180 barrels, Mock, 2451 barrels. Roiln Firm. Bales, 786 harrctn; re ceipts, 1599 barrels; shipments. '.:, bar rels; stock, 51,827 barrels. Quote: B, $4.09; D, $4.15; F, G. H, I. $4.20; K, $4 23; M. $4.50; N, $5; WO. $5.50; WW, $". s,. hlcago Tolato Market . CHICAGO. May 5. Potatoos. very weak; receipts, 00 cars; total United Btatss ship ments, 036; Wisconsin sacked mmA bulk round whites, $1.7001.75 cwt. ; Minnesota sucked round whites, $1.70 cwt.; Idaho sacked rurals, $1.80 cwt New stork, weak; Florida double headed barrels. Spun Id las; Rose N). 1. $0.2506-50; No. 2. $ 1.25 b 4.60. In the Cambria coal field of Wyo ming1 small quantities of Kotd and silver are said to be present In the coal veins. In South Africa a similar occurrence has been noted the coal occuri npr in seams runninir t hrous;h the quartzito ore. MUTUAL SAVINGS BANK FILES New Seattle Institution Second of Kind In Washington. OLYMPIA. Wash., May 5. (Special.) The Continental Mutual Savings bank has completed organization in Seattle and filed articles of Incorporation with the secretary of state today, preparatory to asking the state banking department ror a charter. This will be the second bank of its kind in the state organised under the law. which prohibits the loaning of the bank's deposits on other security than honds or first mortgages on Improved real estate and limits deposits to $5000 per person. Twenty prominent business men of Se attle are Incorporators of tho bank, each contributing $250 to Its original guaranty fund and a llko ani'umi to i ne expend) 3Q more mileage than a Fabric! That's the yield of these new regular size MICHELIX CORDS and they cost no more than Fabrics. You should see them! Drive up to "Quality Cor ner" or phone Broadway 2484. TIKESAIaESCO. Burnside at 13th Burnsiae at 13th r A Sound Investment PORTLAND GAS & COKE COMPANY 7 Preferred Stock k -A WILL SELL $5000 all or part of 8' ,' Se cured Gold Coupon Notes in big going concern earning: more than double of interest charges of this issue. Assets over $350,000. If sold in one lot will offer a working in terest or discount on pur chase. No brokers. A J 618, Oregonian. HERRIN & RHODES, Inc. Established 1806.. STOCKS, BONDS, COTTON, GRAIN Cornspondeou K F. tfUTTON CO.. M. I. Member, all leading .trnanaea Uabton's Srrla on 111. ?:. tQl Mallwaj Exclianxa Hid