Morning Oregonian. (Portland, Or.) 1861-1937, May 27, 1922, Image 21

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Morning Oregonian., May 27, 1922, Page 21, Image 21

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Newspaper Page Text21 X HE MORNING OREGONIAN, SATURDAY, MAT 27, 1922 OPTIMISM RULES DEALINGS IN STOCK Status! of Rails Expected to Be Determined Soon. MONEY MARKET STABLE Weekly Statement of. Federal lie servo Statement Is Encourag ing; Oils Are Firmer. BY MONITOR. (Copyright, 1921;. by the Public Ledger com pany. Published by arrangement.) NEW YORK, May 28. (Special.) Op timism continued to dominate the stock market today and It evidently required Dot even the cheerful note sounded in Judge Gary's address before the American Iron & Steel institute to cause the aver age trader to take a cheerful view of the utlook. For one thine, the status of the rails Is expected to be cleared up in the near future. A day or so ago some discourage ment was engendered by the heavy rate reduction in spite of the enumeration of the principle that no basis for returns should be formulated that would provide less than 69i per cent for the carriers. The street, however, has taken fresh hope en the ground that the labor board is expected to make a substantial reduction In wages, at least on some classes of labor. A Chicago rumor today had It that the reduotlon would be as much as 15 per cent, but this was believed to be ex cessive. At any rate, the railroads soon will know where they stand and the re moval of the element of uncertainty will foe a strong sentimental factor. The weekly statement of the federal re serve system was encouraging in the evi dence it gave of the stability of the money situation. The decline of one-tenth of 1 per cent to 77.5 is relatively insig nificant. Kvidently the recovery in busi ness has not yet begun to make a per ceptible demand upon the credit facilities of the countries. Speaking from a group standpoint, to day's market made its best showing in the rails. Price movements with the excep tion of Lake Erie and western Issues which ran up sharply, were not extensive, but the undertone was firm throughout practically the entire group. Comfortabls gains were made by Reading, St. Paul pre ferred, Lehigh Valley and a few others. Coppers were steady and oils were firmer on reports of further- advances in crude Mexican petroleum, California petroleum, Producera and Refiners, Maryland and Phillips were among the strong issues. Active specialties included Brooklyn Sapid Transit, North American company, Na tional Enameling and Stamping, Amer ice Ice preferred. Tobacco Products and Coca Cola. Studebaker was the feature of the motors. American Ire common and preferred, were again strong and active today with rumored new financing continuing as background for the movement. One story in circulation has it that the preferred will be retired and common stock in creased to a point where four shares will bo issued for one share of the common now held. Call money rates firmed up above the 4 per cent level again today, but this has had little real effect upon the market. Tune money is also slightly firmer, and no maturities are offered below 4 n- Wall street is convinced that money will remain easy for several months to come and if not, that strength in the bond jiidi aeis win demonstrate Itrmness in the Bulletin tomorrow will publish wool quo tations as follows: Oregon eastern No. 1, staple, 11.250 1.30; fine and fine medium combing, $1.20 (i1.25; eastern clothing, S1.MQ1.20; val ley No. 1, S1.101.12. Mohair best combing, 6558c; best card ing, 505uc. BAN FRANCISCO PRODUCE MARKET Prices Current on Vegetables. Fresh Fruits. Etc, at Bay City. SAN FRANCISCO. May 26. (State Division- of Markets.) Poultry Broilers. 28 45c: young roosters, 2547c; -old, 14 19c; hens. 212Sc; ducks, 232oc; live turkeys, 32635c; dressed, 3644c. Fruit Apples, 314 to 4-tler. J2.153.75; navel oranges, $6.508; Valencias, 8.50 8; lemons. J57; loquats, nominal; grapefruit, J34.25; strawberries, crate, U0C&J1.20; cherries, box. $1.501.85; apri cots, pound. log12c: raspberries, drawer, Sl1.23; gooseberries, pound. 15c; figs, box, S45; cantaloupes, 2rj)2.50. Vegetables Artichokes, large crate, 5; asparagus, pound, 310c; deans, pound, 1020c; carrots, sack, $2.753; celery, crate, $24; cucumbers, uoisen, J1.502.25; . lettuce, crate, 2550c; mushrooms, pound, 50c$l; white onions, crate, 11.2801.33; yellow, est, $101.15; tarsnips, sack, $33.23; peas, pound, lhi 4c; potatoes, (1.602.?5; new, 3Vj3c rhubarb, box, $1.3i62, summer squash, crate, 8575c; spinach, pound, 24c; tur nips, sack, $22.50; cabbage, pound, 3c. Receipts Flour, 3 0.300 quarter sacks; barley, 25.452 centals; corn, 1600 centals; potatoes, 644 sacks; onions, 598 sacks: hay, 160 tons; hides, 1542; oranges and lemons. 2000 boxes; livestock. 50 head. QUOTATIONS ON DAIRY PRODUCTS Current Prices Ruling on Butter, Cheese and Eggs. SAN FRANCISCO, May 26. (U. S. Bu reau of Markets.) Butter Extra, SDiio; prime firsts, 3814 c. Eggs Extras, 27c; extra firsts, 26c; 'ex tra pullets, 23 c; extra pullets, firsts, imc; undersized pullets. No. 1, 18c. Cheese California, fiat fancy, 19c; California, Young America, , fancy, 24c. NEW YORK, May 26. Butter weak. Creamery higher than extras, 3536ttc; extras. 3535Mc; firsts, 33 4 34 c; pack ing stock current make No. 2, 23c, Eggs Weak. Fresh gathered extra firsts, 2727& Cheese Firm. State whole milk flats fresh special, 18J419c. , CHICAGO, May 26 Butter Lower. Creamery extras, 33H34c. Firsts, 31 33c; seconds, 28 30c; standards, 33 fee. Eggs Unchanged; receipts, 84,900 cases. May 26. Butter and eggs SEATTLE, unchanged. Dried Fruit at New Tork. NEW YORK, May 26. Evaporated ap ples, quiet. PniTves-rDulh Peaches Quiet. EDOD CATTLE REGEtVED MONTAXA STOCK SELLS UP TO $8.75 AT LOCAL YARDS. approaching monev TnarliPta Innv enough in advance to give plenty of warning. Shipment Also In From California. Offerings in Other Lines Are Light. Eighteen loads of cattle from Montana and California were received at the North Portland yards yesterday. There were no other rail receipts. The tone of the market was steady In all lines. ' The Montana steers, of which there were ten loads, were of good Quality and sold for the most part at $8.75. The Califor nia cattle came In late in the day. The few sales In the elieep and hog divisions were at unchanged prices. Receipts were 4tt cattle. The day's sales were as follows: Wt. Price.l Frank 3s. Gondolph has retired as presi dent of the Remington Typewriter and elected chairman of the board. Mr Gon dolph has been urging that a successor be appointed as president of the company for ome time in order to relieve him of ac tual management of the company. B L winchell is the new president. Gu,!- 9il has been on of the features tnf over-the-counter" market for the lan two months and today advanced an other oQ points, making a total advance of about $20O per share during the two months period. Rumor persists that Stand ard Oil of Indiana is to merge with Gulf Oil, although the statement already has teen denied. Buying in the Brooklyn Rapid Transit issues today was the reflection of the strong showing made during April. Net Income of the system for the last month was $34-S,08 after taxes and charges as compared with but $102,145 in April, 1920. Earnings for the ten months ended April 80 were $2,300,127, as compared with a deficit of $3,284,203 for the same period a year ago. With the approach of the summer months, during which time the open street cars and elevated systems have a tendency to attract passengers from the subways. It is believed that earnines for the summer period should show further improvement. Stockholders of Royal Typewriter will meet soon to consider a change in the common stock from a $100 par basis to a no par value basis and to authorize a sufficient Increase in outstanding common wtock to permit the company to liquidate accumulated dividends amounting to $2,308,971 on the 7 per cent preferred. It Is believed that the company had adequate ' funds on hand to pay these dividends, but desires to keep this cash for working capital. The Union Pacific April report does not keep the promts made by the first quar terly statement. April gross is 9.8 per cent lower than March, as compared with a decrease for March of but 2.8 per cent from February. April net is 59.7 per cent helow the April, 1921, net. This falling t-ff in earnings is explained- by higher cperating costs, particularly in the main tenance of way expenses which Increased 2.1 per cent during the month. California petroleum company for the quarter ending March 31 showed a sur plus of $575,570 after charges, deprecia tion, depletion and federal taxes. After preferred dividends this is the equivalent ri $2.fl4 per share on the common. Dur ing the same quarter a year ago, surplus was $736,723, or $3.72 per share on the common. , Coca Cola established a new high above 62 today, buying being based on the. gen eral expectation that May earnings should Trove to be record breaking. During April this company earned $703,000. and it is expected that May earnings should be about SS50.0O0. Coca Co-la still has its big season f head, as the hot weather period natu rally developed a much broader demand for its product. IVhigh Valley April operating revenue whs $4.3RR,02. as compared with $6,289, 4no during the same period a year .go. F.arnings for the first four months of the year amount to $21,649,141, as compared with $23,912,275 during the same period a year ago. Operating Income during the 10 months was $1,996,910, as compared with a deficit of $1,570,254 a year ago. WOOL MARKETS IN EAST RALLY GERMAN BONDS RISE Oil LONDON MA RKET Lloyd George's Optimism Has Good Effect. GENOA LEADERS CHEERY Int Marine C T 6s 1941 Kelly Springfield 8s 1931 Kennecott 7s lt30 Lack Steel Ss ..'..1923 do 1st 59 .1950 Libby Mc!f I. 7s 5931 Lis & Myers 5s 1931 do 7s 1944 Lorillard 5s ; 1951 do 7a 1944 Midvale 5s 19S0 Morris & Co TAa 1930 Proc & Gamble 7s 1923 Republic I & S Ss i940 bears Roe 7s 1922 do 7s 1923 Steel & Tube 7s 1951 Swift & Co 7s 1925 do 7a 1931 Unl Drug 8s 1941 97 H 108 105 99 91 99 . 96K 114 96H 1131 91 105 101 95 .00 101 101 101 102 111 90 108 101 99 131t 100 99 109 98 93 107 107 1 steer. . 28 steers. 3S steers. 33 steers. lo steers. 20 steers. 12 steers. steers. 22 steers. 5 steers. 12 steers. 32 steers. 14 steers. 2 cows. . 3 cows. . 1 cow. . . 1 cow. . . 1 cow . . . X cow. .. Prices 1200 S 7.00 1133 8.75 8.751 8.75.1 8.50: 10 cows. 3 cows. .. 1 cow.. ., 1 heifer.. 5 heifers. 1 calf. ... 1 bull.... 2 bulls... 3 stags. . 5 mixed.. 1 hoe 8.75! 1 hog 7.75117 hogs... 4.501 2 lambs.. 6.00110 lambs.. 4.23113 lambs.. 7.50111 lambs.. 5.501 1 ewe. . .. 4.50 1 ewe. ... 8.001 8.00 8.751 7.501 7.251 Wt. Price. 1050 ? 7.00 A 4.0U 983 996 1165 1068 1121 930 1054 1046 884 1019 1197 840 950 1020 1450 750 890 quoted at the Portland stockyards were as xoilows: . Cattle Price. Choice steers S 8.75 9.00 Good to medium steers ;. 8.00 8.50 910 530 558 360 1330 890 1283 4S6 530 170 200 70 48 60 61 90 160 6.00 6.00 6.25 4.00 4.50 5.25 7.00 6.00 8.25 11.65 11.50 10.00 7.00 10.00 8.00 2.00 4.00 Union 6.503 7.00 6.00 6.25 4.75 5.25 6.75 7.25 5.75 6.75 5.00 5.75 5.00 4.00 5.25 9.00 8.50 Common to fair steers Common feeders Fair to good feeders Choice cows and heifers Medium to good cows, heifers. Fair to medium cows, heifers. Common cows 4.00 Canners ,. 2.25 Bulls ... 3.75 Choice dairy calves 8.50 Prime light calves 8.00 Medium light calves 7.00 8.00 Heavy calves . . 4.a0 7.00 Hogs Prime light 11.2511.75 Smooth heavy, 200 to 300 lbs. 10.5011.00 Smooth heavy, 300 lbs. up 10.0O10.50 Rough heavy 7.5010.60 Fat pigs 11.25 11.50 Feeder pigs 11.2511.50 Stags, subject to dockage 5.00 7.50 Sheep Beet spring lambs 9.0010.00 Medium spring lambs '. . . 8.00 9.00 Common spring lambs 6.00 8.00 Cull lambs 6.00 6.00 Light yearlings 7.00 8.00 Heavy .yearlings 5.50(8 6.60 Ewes jjjjjjj... 2.00 5.00 , Chicago Livestock Market. CHICAGO, May 26. (United States bu reau of markets.) Cattle Receipts 4000; market active. Beef steers firm; top year lings, $8.90; bulk beef steers, $a58.50; fat she stock, bulls, calves and stockers steady; canners and low-priced cows, weak; bulk fat she stock, J5.657.25; bulk can ners and cutters, 3.504.DO; bulk bologna bulls around "$4.65; bulk vealers to pack ers, $9.259.7o, outsiders upward to $11. Hogs Receipts 23,000; market active, mostly 5 to 10 cents higher than Thurs day's average. Top, $10.85, bulk $10.35 10.80; pigs strong to 10c higher, mostly 9.50 10; heavyweight, good and choice, 10.6010.70; medium weight, $10.65 10.85; light weight, J10.80 10.85; light lights, $10.2510.75; packing sows, smooth, $9.50 10; 'packing sows, rough, $9.25 8.60; killing pigs, $9.2510.35. Sheep Receipts 8000, market steady to strong. Six doubles choice 82 to 86-pound shorn lambs, $13.65; best native spring lambs, bid, v$15.50 straight; medium fed Texas wethers, $7. , All Danger of Ruhr Occupation Be lieved Passed British to Reduce Expenses. BT FRANCIS HIRST. (Copyright, 1922, by Public Ledger Com pany. Published by' Arrangement.) LONDON, May 26. Lloyd George's op timism yesterday and the warmth of his parliamentary reception, supported by good prospects in relation to the Paris finan cial conference, have encouraged the pub lic, which now believes the danger of Kuhr occupation has passed. Hence the sharp rise in German bonds, which de pend on stabilization of the mark at. perhaps, 1000 to the pound sterling, l-50th of pre-war parity. One is impressed by the hopefulness of leading experts from Genoa, who are well pleased with the fianncial discussions there and expect fruitful results in several dl rections, more especially from concerted action of the leading central banks. Gov ernment printing presses must be stopped and depreciation of paper currencies ar rested, because these are constantly in creasing budget deficiencies by reducing the real yield of taxes. Franco Needs Cash Urgently. American Interest In the recovery German marks and the prevention of Ger man collapse supporta the belief here that Washington will help to tide over the pres. ent crisis. The French government is in pressing need of cash to relieve Its urgent financial difficulties. The large deficit in the ordinary French budget is d-ue to declining revenue and increased cost of the army. An association of British creditors to Russia, including all interested traders, with Leslie Urqhart presiding, passed a resolution yesterday thanking Lloyd George and welcoming the restoration of contact achieved by him between Russia and the outer world. They pledged themselves to assist The Hague commission in solving the practical problems of Russia's indus try and finance and of hastening adequate resumption of Russo-British trade. b Many British industries are suffering from the unfortunate continuation of the engineering dispute; some say that it is retarded by the blowers. Boot Makers Reported Busy. Leicester and? Northampton report boot manufacturers are very busy, and the hos iery trade improving, Canada is becoming the biggest overseas customer for knitted goods. The volume of Lancashire's cot ton industry prows, thanks to more orders from India. But the weaving section complains prices are unprofitable owing to excessive cost of production. There is a crisis in the British dye monopoly and two technical experts have resigned, dissatisfied with official control. Textile manufacturers complain bitterly about the cost of dyes and the embar rassment caused by the licenses system. British dyes are costing from three to 12 times the pre-war figures. The stock markets are responding to better political feeling. The bank return is satisfactory, but supplies of money are rather less abundant and less capital seems to be coming forward for investment, hence new issues are less greedily taken. The British treasury has issued orders to government departments to effect further reductions amounting to 50,000,000. New York Bonds. Furnished by Herrin & Rhodes, Inc., of Portland: Atch Gen 4s 1995 88 ACL 4s .1952 88 do 7s.. 1930. 10o B O gold 4s 1948 80 do con 4s cv..... 1933 .82 do ref 5s 1995 87 Canada Suothern 5s 1962 97 Canadian Nor 6 s 1846 111 do 7s '. 1940 112 Cent Pac 1st 4s. 1949 86 Ches & Ohio cv 4s . 1930 87 do gen 4s 1!)2 86 do cv 5s ...1946 93 do con 5s 1939 100 C B & Q 111 div 4s .' 1949 90 C & West Ind 4s 1953 73 C G & W 4s ..1959 61 C M & St P 4s 1925 80 do cv 4s 1932 72 do deb 4s V 1934 65 do gen 4s A 1899 75 do cv 5s 2014 76 do g&r 4s A 2014 66 Chgo N W sf 5s 1929 68 do gen 4s 1987 83 do 6s 1936 109 do 7s 1930 ll6 C R I & P ref 4s .1934 81 Colo Sou rf ex 4s 1935 87 do 4s 1929 92 Del & Hudson cv 5s 1935 96 do 7s 1930 109 D & R G cv 4s 1936 , 78 do ref 5s 1955 49 Erie P L ,4s 1996 64 do con 4s A 1953 52 do B 1953 52 do D 1953 57 Brie Pa C G 43 lnl Xj 8 Rubber 1st ref 6s 1947 do 7s 1930 U S Steel sf 5s 1963 va Chem 6s 123 Va Car Chem 7s 1932 west Kiec os : West V T col Tr 5s- 1938 West Union 6s , 1936 Wilson 1st s 1 1941 do cv 6s 1928 West Elec 7s 1925 Westinghouse 7s 1931 Public utilities Am Lt & Tran 6s 1925 iO Am Tel coll 4s 1929 90 do 5s 1946 97 do 6s 1925 115 Bell Tel of Pa 7s 1945 107 B R T 5s 1945 64 Cal Gaa unl 5i v.1937 95 Cities Service 7g B .'..1966 133 do 7s C 1966 95 do 7s D 19 91 Con Gas cv 7s 1925 11774 Int Met 4s 1956 16 Int R T ref 5s 1966 70 Laclede Gas 7s 1930 100 Mont Power 5s A 1943 96 Northwest Tel 7a 1941 106 Pac Tel 5s 1937 97 Pas Gas 5s 1942 91 Pouthwest Tel 7s . 1925 102 Oil bonds Anglo Am 7. 1925 103 Atlantic Ref 6s 1931 103 Galena S Oil 7s 1930' 103 Gulf Oil 7s 1930 104 Humble 7s 1923 101 Fan Am 7s 1930 100 Mex Pet cv 8s . .1936 107 Sinclair 7s 1925 104 S O Cal 7s .....1931 109 S O N T 7s 1931 109 Texas Co 7s 1923 101 Tidewater Oil 6s 1931 102 Vacuum Oil 7s 1936 106 Foreign Government Bonds Argentine 2d 7s 1923 100 Argentine G I 6s 1945 85 Belgium 8s 1940 106 Bergen 8s 1945 110 Berne 8s 1945 113 Christiania 8s 1945 110 Copenhagen 5s 1944 92 Danish Consol 8s 1948 110 French Cities 6s 1934 86 Italy 6s A 1925 94 Swedish Govt 6s 1939 101 U S Mex 4s 1954 56 do ext 5s 1945 66 Uruguay ext 5s 73 Zurich 8s 1945 102 French Internal 4s 1917 . 57 French Victory 5s 1920 62 Belgian Restoration os 72 British 2 consols 60 Ital Cons War Loans 5 ... 416 Curb Bonds Allied Packers 6s....... : 80 Am Tel & Tel 6s 1922 100 do 6s 1924. 101 Anaconda Copper 6s 100 do 7s 103 Anglo-Am Oil 7s 103 Beth Steel 7s 1935 102 Copper Ex Assn Ss. 1924 102 do 8s 1925 104 Grand Trunk 6s 105 . Gulf Oil Co 7s 104 Libby McN & Libby 7s 99 Sears Roe 7s 3-year 1923 101 So West Tel 7s ... 102 Standard Oil N. T. 6s 1933 106 ao is 1U2 Swift & Co 7s 1925 do 7s ...1931 Texas Co 7s Notes Vacuum Oil 7s E NEW YORK MARKET ACTIVE AND GENERALLY STRONG. 105 101 102 101 106 Coffee Futures Advancing;. NEW YORK, May 26. The market for coffee futures closed at a. net advance of 16 to 21 points. Sales were estimated at about 20,000 bags.' Closing quotations: July, 10.31c; September, 9.83c; October, 974c; December, 9.64c; January, 9.49c; marcn, w.dsc. Spot coffee steady. Rio 7s, 10o to 11c Santos 4s, 14c to 14c. . Ihe New lork cotfee and sugar ex change will be closed on all Saturdays during June, July and August, except the first Saturday, in July. This decision, the board of managers announced today. was maae at tne request or members. Naval Stores. SAVANlfAH, May 26. Turpentine, fir 96c; 6a,les, 129 barrels; receipts, 491 bar rels; shipments, 883 barrels; stock. 1219 Darrels. Rosin Firm; saaes, 826 barrels; re ceipts, lu37 barrels; shipments, 718 bar. rels; stock, 55,006 barrels. Quote: B, fi.Zl CS'4..iU; D. $4,300)4.32; E, X4.45IJ 4.47; F. $4.604.72; G, $4.6o4.72 H, $4.704.72; 1, $4.75: K, $4.905.02 M, $5.105.25; N, $5.405.50; WG, $6.10 B.lo; WW, fB.SO. Metal Market. NEW YORK, May 26. Copper, firm electrolytic, spot and futures, 13 14c. Tin Steady: spot and nearby. 31.25c; fu tures, 31.12c. Iron Steady; prices unchanged. Lead Firm; spot. 5.505.85c. Zinc Steady. East St. Louis, spot and nearoy delivery, 5.2oc. Antimony Spot, 5.375.50c. Blight Advances in Prices BoKton. Quoted at BOSTON. May 26. The Commercial Bulletin tomorrow will say: The wool Market has rallied again this week and prices show a slight advance in the sea board markets. In the west, there has been an excited and very strong market, typified best per haps by the sale of some 20,000 pounds at San Angelo. Tex., where prices, clean landed, varied from about $1.20 for cloth ing wool to $1.35 for the best staple clips, or 46 to 52 cents in he grease. Prices have ruled high also for fine wool In the bright wool states, 50 cents having been paid for Delaine clips in Ohio. The edge appears to be off the western mar ket as the week ends. The manufacturing situation is hardly ehanged, the American Woolen company having withdrawn all lines presumably for repricing. Government statistics on con sumption indicate a sharp reduction in stocks consumed in April over March. The foreign markets are generally firm. Oregon Wool at Boston. Kansas City Livestock Market, KANSAS CITY. Mo., May 26. (United States bureau of markets.) Cattle Re celpst 12000. Beef steers fully 10 to 15 cents higher, top $8.50; yearlings and calves steady; best mixed yearlings, $8.50; good heifers, $7.25; desirable vealers, $9.50 9.7i; calves, S3(g4, few good Texas $8; cows, canners and bulls weak; few good cows, $5.756.25, common and medium lots $4.255.25; most canners $2.753; good cutters around $4; common and medium bulls, $3.504.5O. Hogs Receipts 6500 head; opened slow. closed fairly active, steady; bulk good and choice 165 to 225-pounders, $10.4.-10.55; packer top, $10.60; bulk, $10.2510.55: sows, mostly $9.25; pigs steady; bulk desir able kinds, J10.U10.75. Sheep Receipts, 3000 head; mostly steady: spots more; shorn wethers, $7.50 8: spring and shorn lambs, steady to 25 cents higher; shorn lambs, $13; native springers, $l5; Texas goats, $4.20. Omaha Livestock Market. OMAHA, May 26. (United States bureau or marKets.j Hogs Keceipts 10,500, most ly o to 10 cents lower. Bulk 180 to 240 pound butchers, $10.8510.40, top $10.45; bulk 250 to 825-pound butchers, $10.05 10.30; packing grades, $910, Cattle Receipts 2400. Beef steers ac tive, mostly 10 and 15 cents higher, top $3.50; she stock and other classes of cattle generally steady. Sheep Receipts 5000. Lambs steady to 15 cents lower. Bulk clipped lambs, $12.75 13.25, top $13.35; sheep and feeders steady; shearing lambs, $14. ' San Francisco Livestock Market. SAN FRANCISCO, May 26. steers. No 1, $77.75; No. 2. $5.356.25; cows and heifers. No. 1, $56: No. 2, $45; bulls and stags, $34; light calves, $89.50; heavy, $57. Sheep Wethers, $67; ewes, $45' lambs. $9 10. Hogs 125. to 200 pounds, $12; 200 to 250 pounds, $11; 250 to 300 pounds, $10. Seattle Livestock Market. SEATTLE, May 26. Cattle and hogs Gd Trunk eq 6s Gt Nor 4s do 7s Gt Trunk 6s do 7s Ill Cent jt 5s do ref 4s K C Sou ref 5s BOSTON, ilay SC. The Commercial , steady, ao receipts, price unchanged. 1936 1961 1936 ....1936 . ... 1940 1963 1955 1950 Keo & Des M 1st 5s 1923 LS&MS4S 1931 L & N 7s .1930 L & N uni "4s 1940 S C 7s , Na Ed 6s M St P & S S M 6s 1946 M K T & S 4s 1990 M P gen 4s 1975 do ref 5s 1923 do ref 5s 1926 NYC deb 4s 1934 do con 43 1998 do ref imp 4s do cv deb 6s do coll 7s N Y N H & H cv 6s. N O Tex & Mex 5s... N P P L 4s do 6s do Gt Nor jt 6s . O S L ref 4s Penna 6s do gen 4s do 4s do gen 5s 1968 Penna 7s 1930 do 6s 1936 Reading gen 4s 1997 S A L 4s 1950 do 5s 1949 do 6s A 1945 Southern Ry con os .. Southern Pac cv 4s do ref 4s do sf term 4s do ref 4s do conv 5s St L & S F P L 4s A. do gen 5s do P L 5s B do adj 6s . . .' Ho inc 6c St L & S W 1st 6s do con 4s do 1st 4s Tex Pac 1st 5s Union Pacific 1st 4s . do cv 4s do ref 4s . do 6s Union Tank 7s v. . Wabash 1st 5s do 2d 5s Western Pacific 5s ... Industrials Allied Packers 6s Am Agr Ch 78 .... Am Sm 1st 5s Am Tob 7s Anaconda 6s A .... do 7s B 1929 Armour cv 7s ....1930 do 4s 1939 Beth Steel 7s 1923 do eq 7s ..1935 An ret 5s 1942 Cerro de Pasco 8s ... Chile conv 6s . A Chile conv 7s ....... Col Graph 8s Copper Exp 8s do do Colo F & I gen 5s .. Colo Ind 5s Cuban Amn Sug 8s . Cuban Cane cv 7s ... Distillers Sec cv 5s . Dlam Match 7s ... Dupont 7s Empire Gas Fuel 6s . Fisk 8s Gen Elec deb 5s .... do 6s 1940 Goodrich 7s 1925 Goodyear 8s Heinz 7s Hershey 7s HI Steel deb 4s Ind Steel 5s Int Agr Ss ...2013 . . . 1935 ...1930 ...1948 ...1935 ...1997 ...2047 ...1936 ...1929 . . . 1936 . ..1D0 .I960 1994 1929 1955 1950 1949 1934 1950 1931 1950 1955 1960 1952 1932 1989 2000 1947 1927- 2008 ....1928 ....1930 1939 1939 1946 ....1939 ....1941 ....1947 1983 . .1929 ....1931 ....1932 ....1923 ....1925 ....1923 . ...1924 ....1925 1943 . . . . 1034 ....1931 1930 ... .1927 ....1935 1931 ....1924 1941 ..1952 ...1941 ...1930 ...1930 . . .1940 .. .1952 ...1932 105 90 109 103 112 95 87 87 88 01 108 90 99 92 102 82 64 100 97 87 102 105 82 102 87 105 105 91 109 91 95 95 109 108 85 69 26 59 95 91 87 2'A 88 102 72 98 8S 80 69 80 75 78 96 91 94 86 103 103 9T 86 87 63 102 92 102 100 103 104 89 104 102 95 91 107 46 101 3 02 104 90 77 105 4 ft 43 107 107 100 106 100 !. 104 99 115 104 102 H I. 99 79 Si Liberty Fourth ilia Score New High Point Investment Of ferings Are Firm. - NEW YORK. May 26. Greater activity and" a fair degree of strength featured to day's bond market- Investment offerings held firm, while many speculative Issues registered highest quotations of the year. Liberty fourth 4s scored a new max imum at 100.36, but fell back under par before the close, and the tax exempt 3s again rose well above par. Dealings rh foreign war flotations were moderate, changes being limited to frac tions. French governments and several of the municipals eased, but United King doms remained firm. For the third successive session Erie is sues featured the stronger domestic rails, the three classes of convertibles making material gains. Bt Paul and Texas & Pacific underlying mortgage bonds also strengthened and most of the local trac tions improved on the better outlook for capital readjustment. New offerings were comparatively small, h.if were readily- marketed and the New England Telephone 6s sold at a premium of point over yesterday's publlo sub scription price. Total bond sales, par value, aggregated tlK.7S7.000. conflicting and uncertain move ments in the stock market were resumed today. The trend among leaders and in vestment shares was mainly upward, how ever, on large dealings to which the shorts marie enforced contributions. Prospective freight rate reductions ana Ibwer nrices quoted for some -essential commodities seemed to exercise less ad verse Influence and efforts of bear cliques to depress quoted values on the utter ances of the British, premier met with in different success. Further lack of Dublie Interest was man ifested in steels, equipments, coppers ana kindred issues, but the strength of United States Steel was associated with the ad dress of Elbert H. Gary before -the mem bers of the American Iron and Steel in- Rt-ltntn. secondary, or low-pneed. rails again lea the transportation list to materially higher levels. Striking features of that group comprised Lake Erie & Western common and preferred, St Paul, Wheeling & Lake Erie, preferred, and New Haven; coalers, nntnhlv Readinr. asraln moving upward. Oils made substantial headway on the hlirhar nrices Quoted for the crude product. Mexican and Pan-American petroleums scoring the largest advances with Cali fornia Petroleum, but those Issues were among the first to give way under real- izlnir sales. Other individual features ot strengtn in cluded Studebaker, Baldwin, United Re tail Stores, Tobacco Products and numer ous unclassified specialties. Foremost among these was Coca-Cola, which retained the better part of its extreme gam ot ) oolnts. Sales amounted to l.zsu.uuu snares, Call money openea ana renewea imo next week at 2 per cent: rising to per cent at midday and 6 per cent In the ast half hour, the advance being at trio uted to calliner of loans by local banks. Time rates were unchanged, but available supplies for the longer maturities were small. Brokers reported moderately heavy sales of bills on London for speculative account. following the recent cables outlining .Laoya Cleoree s speech on events in uenoa. le ma-nd sterling reacted to $4.44, but rallied fraction ana all tne continental remit tances eased slightly, Denmark and Switzerland proving the only noteworthy exceptions. Weakness again features the Austrian rate on delayed consummation of a loan to that government. CLOSING STOCK QUOTATIONS. Furnished by the Overbeck & Cooke com pany of Portland: Stock Adv Rum ... do ptd Agr Chem . . .. Ajax Rubber.. Alaska Gold.. Alaska Jun... Allied Chem.. Allis Chalmers Am Beet Sug. Am Bosch .... Am Can Co. . . do pfd Am Car & F. do pfd Am Cot Oil.. Am Drug Syn Am Hide & L. do pfd. Am Ice Am Int Corp. Am Linseed.. do pfd Am Loco .... do pfd Am Saf Razor Am Ship & C. Am Smelter. . do pfd Am Steel Fdy Am Sugar . . . Oregon Banking and Bond News. Sales. High. Low. "206 "39" "38 2,600 17 "'900 "i "i 4,400 72 70 300 50 49 '"600 '46 '45 1,600 48 48 , 200 105 104 100 400 400 "800 6,200 4,400 100 ' 100 2,100 , 100 600 8,400 3,700 ' 200 1,600 2,800 120 27 71 112 49 ' 35 56 115 115 7 21 65 98 33 76 120 27 "n' 110 48 35 55 115 115 6 20 65 38 75 Members of the banking fraternity from the seven counties of the northwestern section of the state were flocking through Portland yesterday en route to Astoria, where a meeting of members of group of the state bankers' association is to be held today and tomorrow. The majority of the men left last night for the beach. The conference will remain in session until Sunday night. Today, which Is the day for business, many matters of vital Importance to the bankers will be considered. Each- bank in Portland, according to E. C. Sam- mons, secretary of the, organization, is sending at least one representative. To morrow will be spent at Gearhart and Sea side, -where the Astoria bankers, who are the hosts, have arranged a programme of entertainment. Sunburned and tanned, Elliott Corbett. vice-president of the First National bank, returned to his desk yesterday morning after several days spent in the upper Mc- Kenzie river district in search of the elu sive bear. He reported that he had made one kill during the trip. He brought no proofs of the conquest to the bank to con vince his associates of the truth of his statement, but they do not regard it as a bear story." It will not be a great length of time un til the cheese of Tillamook county will be as famous the world over as that from Switzerland, according to W. J. Rlechers. vice-president of the First National bank of Tillamook. He was In Portland yester day for a few hours and when visiting among his friends in the local banks took the option that all Tillamook citisensnave and boosted Tillamook cheese. Citizens of McMinnville and Yamhill county have no complaints to make re garding conditions, since the crops of grain are green and tne irult trees are loaded with blossoms, according to W. S. Link, cashier of the McMinnville National bank, whotpassed through Portland yesterday en route to Astoria and Seaside for the weekend. Carl Detering and Ira T. Walker have been chosen by the board of directors as vice-presidents of the Lumbermens Trust company and Henry A. Freeman has been elected cashier to take the position left vacant by the promotion of Mr. Detering. W. B. Brlggs was named secretary ot the banking Institution. Despite the short distance between Van couver and Portland, it is seldom that Lloyd DuBofse, president -of the Washing ton Exchange bank of the former city, ever visits here. He was in town yester day and caUed upon friends among the local bankers. Arthur McPhtllips, president of the United States National bank of McMinnville, was a visitor in Portland yesterday. He was en route ta the meeting of the bankers to be heid in Astoria today. With him was Frank Wortman, vice-president of the First National bank of McMinnville. Keith Powell, cashier of the Bank of Woodburn, who is one of the most frequent Portland visitors among the out-of-town financiers, was in the city yesterday. He, too, was on his way to Astoria to attend the meeting of the bankers. The prospects for a big fruit crop in the Hood River valley are promising and the growers are , confident, according to Carl H. Vaughan, cashier of the Butler Bank ing company, who was in town transacting business for his concern. v Sam Laughlin, vice-president of the Yamhill State bank of Yamhill, spent a few hours In Portland yesterday and called upon officials of the United States Na tional bank. , George F. Christensen, president of the Bank of Stevenson.. Wash., motored! into Portland yesterday and spent some time conferring, with, local financiers. Am Sumatra.. 2,400 39 36 Am Tel & Tel 1,000 123 123 Am Tobac ... .200 142 142 do B 9,600 139 138 Am Wool .... 4,400 . 93 92 do pfd Am Zine 1,200 19 19 Anaconda .1.. 6,400 56 64 Assd Oil 800 126 125 Atchison 8,800 100 99 do pfd 100 91 91 At Coast L... 200 103 103 AtO&WI.. 4.700 41 39 Bald Loco 4,700 118 116 do pfd . 3,200 2,800 900 10O 16,700 100 400 6.600 1.800 3,800 100 4.400 2,600 3,400 500 Bait & Ohio.. 2,800 . 4S do pfd 400 61 Barnsdell Cpn 5,800 49 , Beth Steel B. 5,900 78 Booth Fish B R T ....... 15,400' Butte C & Z. 6,700 Butte & sup.. Burns Bros... Caddo Oil Cal Pkg Cal Petro . . . do pfd 1 Canadian Pac. Cen Leather. . C de Pasco... Chan Motor... Chi & N W... Chgo Gt W... ao pfd Chill Cop Chino C M St P 1.900 do pfd 3,000 Coco Cola .... 18,800 C & O E.800 Colo F & I... 600 Colo Southern Col Oas & Elc 700 Columbia Gph 60O Con Gas 5,800 Contl Can 700 Clt Svc Bures Corn Prod ... 3.100 Cosden Oil ... 19,700 C R I & P... 4,800 do A pfd do B pfd Crucible 10,900 ao dm Cuba Cane . . . 2,400 do Dfd 1.100 fUDan Am sg Del & Hudson Dome Mines.. Del & Lack. . . Davison Chem Endic- Johnson Erie 7.90O do 1st pfd. . 5.8O0 Elec Stor Bat 00 Fam's Players 7,200 Fed Mn & Sm do pfd.. .. . . 500 Fisk Tire 6,900 Gaston Wms. . 200 Gen Cigars 900 74 )en Klec 200 165 Gen Motor . . : 700 14 do 6 Gen Asphalt. ; 9.900 64 , Goodrich 6,100 43 Goodyear .... Oranby 3,600 34 Great Nor Or. 1,800 40 Great Nor pfd 4,200 77 Greene Cananea 200 83 Gulf S Steel.. 2,500 5 Glen Alden... 1.700 54 Houston Oil.. 9.100 82 Hu-p Motor.. 200 20 .47 61 48 77 v 27 7 32 163 13 79 61 95 142 40 40 75 75 10 24 22 , 31 29 45 62 67 84 '87 4 118 66 3i 102 45 45 25 7 31 135 13 79 : 60 95 142 39 40 74 75 10 . 23 22 31. 27 43 59 67 33 "87 4 116 66 iui" 45 44 76 74 1,400 soa 300 1 00 1,800 200 16 35 25 116 28 126 09 83 18 26 44 -84 "50 18 16 34 24 115 28 126 58 83 17 26 43 83 'r.6 17 74 165 14 '63 42 '34 40 "76 83 83 52 80 20 Bid. 38 40 38 16 1 70 Ik 49 43 4B 48 104 162 119 27 6 15 71 110 4 84 55 115 115 8 21 65 98 38 75 104 38 123 142 139 9 io 19 55 125 99 91 103 40 117 111 48 61 48 6 26 7 82 135 13 78 60 95 141 , 89 40 75 75 10 .. 23 22 31 28 44 61 67 33 49 8714 4 117 66 23 102 45 45 96 83 75 4 16 3D 23 115 28 125 58 83 17 43 4 12 60 17 74 165 14 81 64 62 12 84 40 77 33 ' 83 62 80 20 1,100 24 24 24 . . 200 24 23 23 , in 2,100 57 66 67 . C "2 J ' f 13,900 47 44 46 k3l& Sy 700 95 94 ' 95 Ztjd ' S 900 18 18 . 18 Jraijh i5S2 iSi itlT - X&5 r SIS' K II 11 1,100 91 80 "PlWIWlPM Zt jot ! -1' -1 mmfffi 500 10 9 10. I I fl I "J JfSj 200 69 69 69 A J I I I I iMSRfr'SJ 2,600 44 43 44 (I Ji if L-JT 1.100 65 63 64 VA 1 AiJ 1:19 , 1.700 32.' 32' 32 U l4e. TLJWj" f M i ! 22,600 54 " 62 53 .YtJ! JfflLA1 JjWA'T 1.600 .. 19 19 19 ,Mf PM 4,800 30 9 9 fjf' TZ-is. iM 1.300 62 61, 61 ( I 2,800 86 35 i- 35 Xkf 4,200 8t 80 81 "5lxO ' . 700 34 83 34 "IKLXl ITTKiJai T.SOU 87 3.V BO -Ail 1 Hiyi. "--7 hi its i m '80 '78 78 tfffiSrV 10 10 J5Kjsr 36 35 86 W n4 no 114 y 1,400 190 187 187 ' , -V 2.800 '92 "92" 92 I UN 1.900 24 24 24 . J. 2.600 116 114 115 it 3.209 30 29 29 ta-! II 2.800 54 63 53 I " JfJ. I 62,800 124 121 123 I I 1 a inn liist 48 4" I I 1 J""r7l I 1,100 34 83 33 1 1 I 5.600 30 . 29 29 I Ui f 11 & a 700 139 139 38 X. JY 700 'sb" '77 . 78 S T. i4 v ' , 66 300 34 34 34 I -7A 0 RO?i I , 60 68 68 fi 44 44 44 102 101 101 119 119 119 68 67 68 31 30 31 70 69 70 49 48 48 12 12 12 14 14 .33 341! 33 1A 33 V, 900 24 23 23 ! 1 t:"..;,,r .', rrrzrrrrrzrrrr" soo 21 21 21 " 1 1 ,1" " 100 97. 07 97 'A I 2,700 62 62 .BS 1 3,600 12 .32 12 I 200 49 48 48 1.300 9 8 8 44 43 42 45 44 44 -29 . 157 61 .13 12 12 9 9 9 28 26 26 Mont Ward . Mo Pac do pfd ..... M St P & S S M Nor Amn .... Nat Enamel . . Nat Lead .... Nevada Con .. New Haven .. Norfolk & W. Nor Pac 1,700 Nova Scotia St N Y Air Brake N Y Central . . Okla Prod ref. Ontario Silver. Ontario & W. . Otis Steel Pacific Dev . . Pac Gas & Ele Panta 'Allegre. Pacific Oil . . . Pan Amn Pet. 19,000 do "B" .... 6.100 Penna 4,200 Peo Gas Pere Marquet. 1,100 furs JU Phillips Pete : Pierce Arrow.. Pierce Oil .... Pitts Coal Pitts & W Va. Pressed Stee C Pullman Ray Cons .. . .. Reading Remington Replogle Steel Republic I & S 24,100 ao pta 4in Rep Motors . . 800 Rova T)llfi.h O 9.SOO Ry Steel Spg 103 Saxon Motors Sears Roebuck 17,600 HhattucK, Ariz 100 Shell T & T Sinclair 38,400 Stand Oil Ind. ....... do N J xdl Sloss Shef Sou Pacific. .. Sou Ry stand OH cal. St L & S F. .. Stromb Carb. s-tudebaker ... Swift & Co... Tenn C & C. Texas Oil .... Texas Pac Tex Pa C & O Tob Products. 17,600 Tran Cont Oil 10,100 Union Oil Del 8,100 Union Pac... United Alloy. United .Drug.. Uni Food Pro United Fruit. Union B & P. U S C I PiDe. Uni Ret Str.. 23.800 U S Ind Alco. 13.800 U S Rub 6,200 ao 1st pta.. 100 U S Smelting. 200 U S Steel 12,600 do pfd 700 Utah Copper.. 2.600 va caera won do pfd 400 Vanad Steel.. 1,500 Vivandou 300 Wabash 9.800 do A pfd... 12,600 do B pfd... Western Pac. Westn Union. Westghse A B do 15 & M. . West Md .... White Motors. Willvs-Overld. do pfd z.yuo Wilson Pkng. 300 Wis Central.. Woolworth . . ..... Worth Pump. W & L E . 8,900 White Oil now White Eag Oil 600 Darard Motor Co. of California Selects - WEST-MADE DESKS To Durant's tireless energy can be cred ited the Buick, the Cadillac, Chevrolet, Oakland and Oldsmobile. And now the "Durant." It is part of the Durant formula of suc cess to be satisfied with nothing short of the best. In keeping with this policy, is the selection of West-Made Desks. West-Made Desks are as different from the old-styled desks as the quill pen from the typewriter. They are built to meet the demands of modern business. Nothing haphazard about them every drawer space has a purpose; there's a reason for every construction feature. .Ask your dealer to show you ths West Made line and explain how West-Made Desks will Increase the efficiency of your office. WEST -MADE DESK CO.. Manufacturers, Portland, 17. S. A. Sold In Portland by Glass & Prudhomme Co. Eilham Stationery Co. Bushong & Co. west-mad: "The Fifty -Tear Desk Liberty Bond Quotations. T.ihrtv hnnd and victory note Quota tions furnished by the Overbeck & Cooke company, Portland: upen. niEiu niw. n.n. 100.00 100.04 90.96. mi. mi no.so flft.92 i"9.90 n.(14 9904 Liberty 3Vjs ... do 1st 4s.... .do 2d 4s 'do 1st 4s.. do 2d 4 lis... do 3d 4'is... do 4th 4',is.. Victory 4s... do 3s ..... 99.98 . 99.94 99.96 . 99.96 99.9S 100 04 100 06 .100.70 100.70 100.66 100 66 .100.00 100.0a luu.uu 1UU.U. 99.92 99.88 99.94 99.92 Money, Silver, Etc. NEW YORK, May 26. Call money, firmer. High, 5; low, 3: ruling rate, 3'4 ; closing bid, 5; offered at 514: last loan, call loans against acceptances, a -a. Time loans, firm: 60 and 00 days, AM; six months,1 4 & 4 Prime mercantile paper, 4I,i44. Foreign bar silver, 7214 c. Mexican dollars, 65 14 c. LONDON, May 26. Bar silver, 36d per ounce. Money, 1-Ji per cent. Discount rates, short bills, 2 per cent; three-month bills. 2. Treasury Certificate Issue. SAN FRANCISCO, May 26. A new is sue of approximately $200,000,000 3V4 per cent treasury certificates of indebtedness has been offered by Secretary Mellon, the federal reserve bank here was advised today. The certificates will bear interest from June 1, 1922. The certificates will have, one interest coupon attached, pay able December 15, 1922. The certificates are exempt from all but estate, inheritance, graduated income and excess profits taxes. Swift & Co. Stocks. ' Closing prices of Swift & Co. stocks at Chicago were reported by the Overbeck & Cooke company of Portland as follows: Swift & Co 103 National Leather 2 Swift International 20 M Libby 2 Mining Stocks at Boston. Furnished by Overbeck & Cooke Co. Portland: Bid. a Ariz Comm 9 Va Adventure 60 Ahmeek 63. Algomaa 20 Allouez -. 8 Arcadian 4 Bingham Mns 15 Cal & Ariz 611. Calumet & Hecla 2S6 New Corn 19 Copper Range 43 East Butte 11 Franklin Mng 2 Hancock 84 Helvetia 1?4 Island Creek ...113 Kerr Lake 314 Michigan 294 May Old Colony 5 North Butte. 13'. Nipissing 64 North Lake 40 Old Dom Copper 254 Oseola Mining 36 Obijawa 3',i Quincy Mining 4o'A Pond Creek 20 Isle Royal 24 outH Lake Supp Boston Uni Shoe Men. do pfd. Superior Copper Trinity Copper Tuolumne Utah Metals Utah Con 24 U S Mining 44 do pfd 4614 Utah Apex 34 Ventura 31 '4 Vfttoria 2 Winona 1 13-16 Wolverine 14 yj Wyandott . . . .jw. 50 of 77 60 25 9 4V4 16 62 289 19 44 V, 11 4 1 11314 3& 3 5 14 50 26 37 3 4614 25 46 V, 47 1S1 11-16 41 41 46 47 Ghile 6s 1932 PI 92 do 7s 3923 306 107 British 5 3922 90Vi 93 do 5s 1927 93 46 do 6s .- 1929 93 Vi 94 o vkv 4a TNVi do ref 4s t . 764 79 Bordeaux 6s 1934 86 87 Canadian 6s 1937 99 99?i do 5s 3928 W 99 do 5 3929 100 100 do 6s 3931 98 98 do 6 .1927 98 984 Chinese 5s 1951 54 54 Chilean 8s 19410104 1054 Russ currency 7 9 Denmark Ss 1945 110 110 Dan muni 8s 1945 110 111 French 4s 1917 66 BS do 5s ....1920 80 82 to 5s 1931 69 70 do 7s 3941 101 101 do 8s 19U 103 104 German W L 5s 2 3 Berlin 4s : 3 3 Hamburg 4s 314 4 io 4s S 4 Leipsig 4s 3 3 Munich 4s - . . . . 3 4 do 5s 3 4 Frankfort 4s . .-. 3 414 Italian 5s 1918 41 42 Japanese 4s , 1931 77 7714 do 1st 4s 1925 90 914 do2d4s 1925 89 90U Norway Ss 1940 111 111 Russian 5s 3921 19 21 do 5s 1926 4 5 do 6s 1919 22 24 Swiss 5s 1929 101 102 do 8s : 1940 117 117 f an Paulo 8s 103 104 V IC 5s 1922 108 108 do 5s 1921 108 108 do 6s 1937 102 102 Swedish 6s 1939 101 102 IMPROVEMENT IX ALL LINES NOTED Distributive Trade Better in Surplus Grain States. NEW YORK, May 26. Bradstreet's to morrow will say: "Improvement Is the key word of the reports received this week by Bradstreet's regarding trade industry and crops. This improvement is by no means uniform, being affected by and dependent upon varying conditions of weather, the progress of planting and of crop development, and the slow but apparently steady gain in activity In most industries toward better conditions. "Final distributive trade, that is retail buying and Jobbing distribution, are bet ter with most progress, as for some time past, shown in the western surplus grain producing areas. "Better weather and rather more active employment is reflected in the eastern states' generally, while the south, owing largely to excess rains in parts of Texas and inthe southeast, shows less notable progress, although the recent rise In cot ton, the activity in and strength of lum ber and the subsidence of the flood waters jTk some sections helps the growth of the more optimistic feeling recently observed in that section. "Weekly bank clearings were $6,866,- 225,000." Chicago Potato Market. CHICAGO. May 26. Potatoes, dull: re- cetpts, 40 cars; total United States ship ments, 983; Wisconsin sacked and bulk round white, $1.40Bl.ou cwt.; Micnigan bulk. $1.40(3)1.50 cwt.: Idaho sacked rus sets, $1.85 cwt; new stock, weaker; Ala bama sacked Bliss xrlumpns, idjiu.za cwt.; Louisialna sacked Bliss Triumphs No. 1. S3 cwt.: Texas sacked Bliss Tri umphs, $2.506 2 90 cwt.; South Carolina slat barrels Irish Cobblers No. 1, mostly Jb 6. 15; No. 2, 13.75 4. EXPORT LULL TEMPORARY EUROPE STILjj REQUIRES IiARGE AMOUNT OF "WHEAT. 3 1 80 1 3 1 85 1 3 . 43 47 8 81 . 2y' 1 5-16 15 60 Ills Cent 105 oiration . . 400 Int Ag Cp cm 2110 In-terboro .... 800 do pfd. 900 Interstate Cal. 8,800 Int Harv ..... 300 Int Merc Mar. 900 do pfd 2.900 Int Nickel ... 1,100 Int Paper .... 5,900 do pfd Invincible Oil. 4,100 Island Oil ... 600 Jewel Tea . . . 500 K C Southern. 5,100 K C Sou pfif Kelly-Spgfld . 12,100 Kennecott 900 Keystone Tire. 5,100 Lack Steel ... 3,800 Lee Tire 800 Lehigh Valley. 11,900 Lorillard 200 Lowe Theaters 1,100 t, & N 100 Marland Oil .. 6.900 Martin Parry.. 2,800 May Stores 118 Mex Pet 17,900 1 37 133 13614 Miami z.ww Mid States Oil 3,800 Midvale Steel. 11,100 M K & T Wl do pfd Mont Power .. 200 72 43 11 2 5 11 103 24 84 18 62 'i8 1 21 27 '52 38 22 77 17 R-1 157 17 119 34 34 30 35 42 42 11 2 4 8 103 24 84 17 51 'i8 1 , 20 26 '56' 3S 21 75 I6',J 64 137 36 119 33 33 30 14 41 42 10 I 10 103 24 83 18 51 85 18 1 20 27 67 50 'i 3S . 23 73 33 65 157 16 139 34 34 Foreign Exchange, Foreign exchange rates at the close of business yesterday, furnished by the North western National bank ot Portland. The amount quoted is the equivalent of the foreign unit in United States funds: Country. Foreign; unit. Austria, kronen Belgium, francs Bulgaria, leva Czecho-Slovakia, kronen Denmark, kroner England, pound sterling Finland, nnmarlc Rate. . .$.00023 . . .08540 .. .00810 .. .01980 .. .21900 ..4.46500 . . .02150 . . .09200 .00375 . . .04250 .. .39000 .00170 .. .05300 .. .00410 . . .18500 .. .08600 .. .00750 .. .01600 ... ,15900 .. .25970 . . .19160 58750 Old Supplies Being Rapidly Cleaned Up in This Country. Crop Conditions Important. The weekly wheat review of Logan & Bryan of Chicago received yesterday by Overbeck & Cooke company of this city follows: Evening up of May contracts monopo lized the attention of the trade during the past week and as the largest holdings wero satisfied through delivery of cash grain, for which the demand has been poor, the current month developed pro nounced weakness, which spread to de ferred futures and carried prices lower. Toward the close of the week opinions were evenly divided, with a greater ten dency to recognize the possibility of an extremely strong cash situation developing next month. Country holders for several weeks have boen engaged in a scramble to market old wheat, taking advantage of the premiums obtainable over new crop futures. The result of this movement must be thr.t supplies barck will be well cleaned u with the bulk of the total supply located at primary markets wnere it will go rap idly Into consumption. It Is significant that in spite of the large receipts the visible supply has de creased. Should this "exhausted supply" theory prove anywhere near correct, lc goes without saying that crop condttions will play an important part in governing prices. Those who consider July wheat too high, representing a new crop, are making their comparisons only with coarse grains, which have been naturally depressed by overproduction. Certainly 11.25 wheat Is not out of 11ns with 20 cent cotton and similar compari sons can be made with most other commod ities. Furthermore, wheat is distinctly a world proposition and until Russia re sumes her position as a surplus producer instead of an importer, as she is at present and will be next year, one canno't expect pre-war prices to prevail. The lull In foreign buying can safely bs regarded as temporary: Kurope must have our wheat and when the inevitable demand gets under way it Is certain to be of stu pendous .proportions. Cotton Market. NEW TORK. May 26. Cotton futures) opened steady; July, 20.27c; October, 20.00c; December, 19.89c; January, 19.77o; March. 19.59c. Cotton futures closed strong. July, 20.63c; October, 20.44c: December, 20.29c; Janu ary, 20.15c; March. 19.95c. Spot Steady. Middling, 21.50c. Sugar Market. NEW YORK, May 26. Raw eugar. cen trifugal, Cubas, 4.23c; refined, fine granu lated, S.50c to 5.60c DAILY METEOROLOGICAL BEPOKT. - PORTLAND, May 26. Maximum tem perature, 63 degrees; minimum, 40 de grees. River reading at 8 A. M., 16.3 feet; change in the last 24 hours, 0.2-foot rise. Total rainfall (5 P. M. to 5 P. M i. none; tAt,l rainfall hIiim Sentember 1. 1921. 36.33 inches; normal since September 1. 41.86 inches; deficiency of rainfall since Septem ber 1, 5.53 inches. Sunrise, 4:27 A. M. ; sunset, 7:48 P. M.; total sunshine, 13 hours 17 minutes; possible sunshine, id nours mln-iites. Moonrise. 4:52 A. M. : moonset. 7:45 P. M. Barometer (reduced to sea level), 5 P. M., 30 38 Inches. Relative hu midity: 5 A. M.. 89 per cent; noon, 39 per cent; o If. M., 3a per cent. THE? WBATHUB. T2 30 14 41 19 42 71 France, francs Germany, marks Greece, drachmas Holland, guilders Hungary, kronen Italy, lire Jugo-Slavia, kronen Norway, kroner Portugal, escudos Roumania, lei ....... Serbia, dinara , Spaln.wpesetas Sweden, kroner ................. Switzerland, francs China Hongkong, local currency Shanghai, taels 83000 Japan, yen -j :48000 NEW YORK, May 26. Foreign ex change, irregular. Great Britain,, demand 4.44, cables $4.45: 60-day bills on banks, $4.42; France, demand 9.10, cables 9.10; Italy, demand 5.24, cables 6.24 ; Belgium, demand 8.42, cables 8.43; Germany, de mand 33, cables 34; Holland, demand 38.85, cables 38.90; Norway, demand 18.25; Sweden, demand 25.75; Denmark, demand 21.70; Switzerland, demand 19.08; Spain, demand 15.80; Greece, demand 4.18; Po land, demand .02; Czecho-Slovakia, de mand 1.92; Argentine, demand 86.37; Bra zil, demand 13.87; Montreal, 99 1-16. Foreign Bonds. Furnished by the Overbeck A Cooke company of Portland: Belgian rest Ss . do prem 5s.,.. do 7s do Ss do 6s Brazil Ss ... ....1945 1941 3925 U..1U Bid. 71 75 107 107 302 104 Ask. 74 79 108 307 302 10154 I ii K E w Wind. v 3 g U 3 STATIONS. If SS a Weatlr. 3 -.c. 2 I ? Sg ; -t Baker 3H 5410.001 IN Pt. cloudy Boise 34 541 .81 N Pt. cloudy Boston 62 8210. 00 SE Clear Calgary 44 600.00114 NW Cloudy Chicago 56 .08I16IN Cloudy Denver 52) 840. 0Ojl4B Pt. cloudy Des Moines.. 64 701 .50 INB Rain Eureka 42 56iO. 00114 N Clear Galveston .. 74 8410. 00 !E Clear Helena 44 541 ,06h SW Rain Juneauf 50 KanBas City. 62 78 0.00 N Clear Los Angeles. 54 78 0.001 W Clear Marshfieldi .. 32 6210.00 12 NW Clear Medford ... 70 0.00 W Clear Minneapolis 62 78'0.00 14E Pt. cloudy New Orleans 74 8610. 00 S Cloudy New York... 64 84 .02 W Cloudy North Head. 44 54 0.00 24 N Clear Phoenix .... 62 980.00 W Clear Pocatello ... 861 60 .02I12ISW Cloudy Portland ... 41 6310.00 10iNWClear Roseburg ... 36 680.0OlON Clear Sacramento 50 7S 0 . 00 20 NW Clear St. Louis.... 66 74lO.OO E Cloudy Salt Lake... 44 54 0.00 12 NW Clear San Diego... 38 6810.00 W. Clear S. Francisco. 52 720.00 2iW Clear Seattle 44 60 .02 14 NW Clear Sitkat 5 -A Spokane 42 66I0.0TM SW Clear Tacoma 6S;o.OOl2iN Pt. cloudy Tatoosh 46 54 .04!l0jW Clear Valdezf 52.l Walla Walla 40 64 0.00 SW Clear Washington 78 .68 W Cloudy - Winnipeg ... 52 82 0.00 SE Clear Yakima 36 68-0.00 jNW Clear SAN FRANCISCO, May 26. Hawaiian raw sngar, 4.17c. ifornla- tA. M. oday P. M. report preceding 'lay. 1 FORECASTS. . Portland and vicinity Saturday fair and warmer winds mostly northerly. Oregon and Washington Saturday fair and warmer: light to heavy frost arly morning east portion; gentle winds, mostly UV4 A New Issue in lires MICHELIN CORDS (regular size) Yield 30 more mile- -age and they cost ' no more than fabrics You can't afford to drive with out them! Br'd'y 2484 TIKE SXLSLS CO. 1 BURNSIDE w AT 13TH S HERRIN & RHODES, Inc. Established 1896. STOCKS, BONDS, . COTTON, GRAIN Correspondents K. F. HUTTON & CO., ft. I. Members all leading exchange Hanson's Service on File. Bdwr. 4723. 201 bailn-at Exi-itange Bids, Swift & Company Union Stock Yards. Chicago Dividend No. 146 liTiueua ox j. nu uuLii-iAno ijz.wj per mare on the c&Dital stock of Swift & Comoan. will ha paid en July 3, 1922. to stockholders of record June iu, ISO, u eoowti on tne books ox ta Company, C A. PEACOCK, Secretary -