21
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
-