THE MORNING OREGONIAN, SATURDAY, JUNE 3, 1923
STORES ON WHEELS
1 TIE NOVELTY
New Retail System Makes
Rapid Headway in East.
SPECIAL CARS ARE USED
Specially Constructed Autotrucks
. Carry Complete , Stocks About
Country on Regular Routes.
BY RICHARD SPILLANE.
(Copyright by the Public Ledger Company
Published by Arrangement.)
PHILADELPHIA, Pa., June 2. (Spe
cial.) It looks as if stores on wheels will
become common. A few years ago a mer
chant had a small retail shoe store in a
Pennsylvania town. Now he has seven
branch stores and more than two dozen
peripatetic stores. The stores on wheels
go over specified routes in Pennsylvania,
Delaware, Maryland, Virginia and West
Virginia, regularly, and sell shoes to the
people in town, village or country. Also
the stores on wheels supply stock to the
branch houses. The stores on wheels are
auto trucks with big specially designed
bodies. They carry full stocks of shoes
and the salesmen are carefully selected.
All business is on a cash basis.
In the middle west the store on wheels
is making headway. In Toledo tha Piggly
Wiggly people are getting competition
through the advent of a sort of Piggly
Wiggly on wheels. These stores carry a
stock that includes meats, vegetables,
cereals, cakes, pies, canned goods, etc
They have regular routes which they
"cover" twice a day. They are roomier
than you would suppose, being as big as
furniture vans. The buyer enters at one
door, passes through the aisle on either
side of which the goods on sale, are dis
played, and on going out the other end
pays for her purchases. The amount of
foodstuff carried in one of these vehicles
is surprising and it Is remarkable how
wonderfully the "stores" have been de
signed for advantageous display of the
articles on sale.
Nine Huge Tracks Used.
In Alabama a general merchant has
nine huge trucks in service as moving re
tail stores, His business has developed
fast and promises to keep growing.
So it goes the country over. The busi
ness of the rolling store is such that va
rious of the auto truck manufacturers are
giving earnest attention to the produc
tion of vehicles of the greatest utility to
these merchants. The matter of the
chassis is easy. It is in the making of
the great variety of huge bodies that the
manufacturers have to exercise their
brains.
Many changes are likely to come in the
retail business In America. For many
years it has been, so far as what is termed
the corner store is concerned, the most
loosely and eflciently managed department
of merchandising in America.
The biggest blessing the small store
keeper hua had was the income tax. Be
fore it came into force less than one out
of five small retailers kept books. If the
retailer had bills to pay he kept them
on a hook. When he paid a bill, he took
it off the hook.' He kept up that method
of accounting until he went broke, which
was the fate- of the vast majority.
That system doesn't work with the in
come tax colleotor. The retailers must
keep books now. Through being forced
to show to the government how much
money h has made or lost he has come
to know where and how he has a profit
und where and how he made losses. He
is getting acquainted with a very impor
tant end of his business.
Bad Debt Percentage Small.
Most people think bad debts make a
big item in retailers' losses. They do not.
In the dry goods business the per
centage of bad debts Is 3-10 of 1 per cent.
In shoes 2-10 of 1 per cent, in hardware
0-10 of 1 per cent, in jewelry 3-10 of 1
per cent. In the corner grocery and de
partment stores less than one-half of 1
per cent. But the delivery cost of the
small store is a real, a very real burden
of cost, amounting to 23-10 per cent. In
taking the store on wheels to the cus
tomer it may come to pass that the
economy will be greater than thought at
first. Nowadays, hundreds of thousands
of women make not a few purchases by
phone and the cost of delivery is not
only In sending the goods by wagon or
boy, but the telephone charge has to be
considered, too.
The old Bystem of the small store must
change or the storekeeper will have little
chance of prospering. He has difficulty
meeting the competition of the chain store.
He is under the disadvantage of having to
pay more1 for his supplies than the chain
tore people for he buys in comparatively
smalt quantities while chain stores buy
in large volume. He gets closer to the
people, as a rule, than the chain store
owner and that helps him somewhat.
Economists have inveighed for years
against the wastes of the small store.
What If the income tax and the rolling
store wiped out a lot of these wastes and
brought profit to the storekeeper and
the public? Whether they do or not the
rolling store seems today to be a comer.
FBBEICH MS BEMI5H
CHICAGO WHEAT WEAKENED
BY DECLINES AT LIVERPOOL.
showed a disposition to belittle reports of
rust damage from Texas, Kansas and Mis- !
eouri, as well as from southern Illinois,
Indiana and Ohio, but if continued they
will probably not be very comforting to
shorts. We believe the turn of strength
in the cash department, combined with
the possibility of crop deterioration, war
rant a bullish attitude.
Corn Trade of a mixed character and
market made little headway in either di
rection. Cash demand was quite active
at a fractional advance In the basis, and
there was evidence of renewed activity
in export circles. It seems significant that
the cash market should display strength
in the face of an increased movement
from first hands. Cofn is still an attrac
tive feeding proposition and there is no
doubt but farm consumption is and will
continue to be abnormal as Ions as the
present livestock basis is maintained.
Oats Selling by leading elevatvr inter
ests had a depressing influence early in
the day, but the decline was arrested by
buying for eastern . account, which was
thought to represent export business. Re
ceiDts were again small and cash market
firm at yesterday's basis. Unfavorable
croo reports are coming forward and
should stimulate increased activity on the
biivine side of futures.
Rye Trade slow but market firm, due
more to lacK or otzermgs tnan to any
consoicuous buying. Seaboard Interests
were buyers in a small way. Cash rye
was quoted nominally -at cent under
July for No.
Leading futures ranged as follows
WHEAT.
Open. High.
Low.
July $1-18 $1.19 $1.184
Sept. i... l.if'jfc l.io i.xtv
Dec. ..
L20
1.20..
Close.
1-17
1.20
Ju.lv ....
Sept. ..11.65
11.40
11.67
11.85
1L75
Resales in That Market Are Under
Prices Offering: on
This Side.
CHICAGO, June 2. Despite less favor
abl domest io crop re ports, t he wheat
market here sagged in price today, owins
largely to lower quotations at Liverpool
and to assertions that Europeon holidays
tomorrow and Monday would tend to cur
tail export demand. The closing in Chi
cago was ateady, but was 4c to c net
lower with July $1.184 to $1.18-H and
September $1.17 to $1.17. Corn fin
ished a shade to c off, oats at c de
cline to a like advance azid provisions un
changed to a setback of Hc.
Successive dips and bulges in the price
of whoat followed each other rapidly
throughout the day. the bearish foreign
news being at times outweighed by re
ports of black rust in Texas and by ad
vice telling of blight in parts of Kansas
and of threatened damage elsewhere in the
winter crop belt. On the other hand, sea
board mesagfs said that resellers at Liv
erpool were offering hard winter wheat
I'c to 3c cheaper than was askt'd in cable
grams from this side of the Atlantic and
t ha t the German government buying
agt-ncy had withdrawn from the market.
Bullish factors, however, were more or
counterbalanced by word of in
cre;i.i?d shipments from t Argentina, about
tiiret- times larger for the week as com
pared with the corresponding period last
y-ar.
Corn weakened with wheat, notwith
standing gossip of export sales of corn
lotaMnrf 1.000,000 bushels.
tJixul shipping demand helped to up
hold the oats market.
An increase of lard shocks here had
something of a bearish influence on the
provision market.
The Chicago grain letter received yes
terday by the Overbeck & Cooke company
o' Portland lollows:
Wheat The market was irregular all
day, displaying strength at times on dam
age reports from various sections of the
belt, but finished weak, with more or less
liquidation induced by reports from the
seaboard of offers by foreigners to reseii
wheat bought a month ago. The impor
tance of the latter was minimiied by the
fact that a fair-sized export business was
being done today. Primary receipts were
again smaller, t nicago receiving only 3D
cars. Cash markets ruled firm and ore-
111 i urns locally were advanced one or two
cfnrs "fn contract grades. The trade
DAIRY BUTTER 22!2c PER LB.
Xet Port In nd Gnarantrfd. Checks
by Return Mull.
THE SAV1NAR CO., INC.
100 Fro.t St., Portland, Or.
1.21'.
- CORN. .
July ..... .62 .62- .6114 .617s
Sept. - .6474 .85 -64 .64
Dec ..... .63 .63Va .62 -62
OATS.
July .1... .38H .38 -3T -8814
Sept 3934 -40 ' -3 -vtt
LARD.
11.42 11.40
11.70 11.65
SHORT RIBS.
July ,.
Sept.
uasn prices were as ioiiowb.
Wheat No. 2 red. $1.23; No.- 2 hard.
Corn No. 2 mixed, 60i460o; No. 2
yellow, 60 61c , ,T -
Oats No. 2 white, 3840c; No. 3
white, S63914c.
Rye No. 2, $1. - :
Barley 6069c
Timothy seed $45.50.
Clover seed $12 20.
- Pork Nominal.
Lard $11.30.
Ribs tl2.5013.50. ;
' Cash Grain Markets.
Furnished by Herrin & Rhodes, Int.
Portland. . XT ,
MINNEAPOLIS!, June 2. Wheat No. 1
dark northern, $1.47l-60; No. 2 dark
northern, $1.45 01.36; No. S dark north
ern, $L381.53; No. 1 northern, $1.46
152: No. 2 northern, $1.431.52; No. 3
northern, J 1.86 1.47; durum, $L20Va
L2Coni No. 2 yellow, 6455c.
Oats No. 2 white, 3oli 36c; No. 3
white, 35c.
Rye 9596c.
Barley 50 61c.
Flax $2.532.65.
DTJLTJTH, June 2 -Wheat No. 1 dark
northern, $1.481.63; No. 3 dark , north
ern. $L391.S6.
Oats 344 36?4c.
Rye 98 c.
Barley 44
Flax $2.65
WINNIPEG, June 2. Oats No. 2 white,
S5c; No. 1 feed, 5074c; No. 2 feed,
47Wheat No. 1 northern, $1.38 ; No. 2
northern, 81.33; No. 3 northern, $1.24.
Primary Beceipts.
CHICAGO, June 2. Primary receipts
Wheat, 864,000 bushels v I'03'0"0., b,uS;:
els Corn, 1,877,000 bushels vs. 1,633.000
bushels. Oats, 766,000 bushels vs. 848,
000 bushels.
Shipments Wheat, 1,152,000 bushels vs.
, k.i. nn-m 713 000 hnshels vs.
1,150.000 bushels, uats, i,oi.,w
vs. 664,000 bushels.
Clearances Wheat 164.000 bushels. Corn,
041,000 bushels. Oats, 793,000 bushels.
Four, 11.000 barrels.
Kansas City Grain Market.
iTiwcio PTTY. Mo.. June 2. No. 2
-i i mi Ad- 9 rr.. S1.l9ia3.2l.
Corn No. 2 white, 5656c; No. 2
yellow, 57 08.
Hav unchanged.
Wheat -July. $1.12; September,
Sl.13 ; December, Sl.14.
Com July, 36 Tic; September, 59&c.
Minneapolis Wheat Futures, '
MINNEAPOLIS, June 2. Wheat July,
J1.3S; September, $1.25.
"Winnipeg Wheat Futures.
WINNIPEG, June 2. Wheat July,
51.31 Va; October, 1.21
Grain at San Francisco. ,
SAN FRANCISCO, June 2. Wheat
Milling, $2.102.15; milling, feed, $2S2.10.
Barley Feed, J1.33; shipping, 51.40
145.
nofo tiaH fri S1.55tSl.65.
rwT white EtrvDtian. S22.10; red
Hay Wheat, J161S; fair, $14 10;
ot 1?l(ffl1R wilri nut. SI 1(8)13: al
frjfa, S1518; new, first cutting, S1315;
StOCK, J.U(& X4, pi-ittW, JlUiUliItH..
Seattle Grain Market.
mi . mrwT T7 W..V T..r.a 9 Who a f Warrl
white, soft' white, white club, soft red
winter, northern spring, $1.21; hard red
winter, l.-: ; eastern reu nuii aua.
J3ig cena Diuesiem,
Hay and feed unchanged.
Cotton Condition, 69.6 Per Cent.
WASHINGTON, June 2. Condition of
cotton on May 25 wa 89.6 per cent of a
normal, compared with 6.0 last year, 62.4
in 1920; 75.6 in 1911 and 74.6 the 10-year
average, the department of agriculture an
nounced today in its first condition re
port of the season. A forecast of produc
tion was not issued, but will be an
nounced with the first estimate of cotton
acreage In July. Condition of cotton May
25 by state -follows: Texas 61, California
R4 Arizona SI. ail other states 73.
Revised figures for 1921 were announced
as follows: Area in cultivation at end of
.Tun. 31.678.000 acres; area picked, 30,
509,000 acres and yield per acre 124.5
pounds of lint. Virginia &1, North Caro
lina S4, South Carolina bi, Georgia 71,
Florida 85, Alabama fcO, Mississippi To,
Louisiana 70, Arkansas ib, Tennessee
Missouri 90, Oklahoma 67.
Coal Advances at Chicago.
CHICAGO. June 2. Increase of 25 to 50
eenti a ton for coal on tne retail mar
ket Yesterday were forerunners of further
advances after existing supplies are ex
hausted, according to leading dealers today.
Retailers declared the rise was one ot
the results of the Washington conference
of coal operators Wednesday, when Sec-
rotary Hoover approved a maximum price
of S3. 50 a ton for spot coal at the West
Virginia mines. These retailers predicted
that West Virginia coal would go to $9 a
ton within a lew aays, an aavance of
$1.73.
Coffee Futures Higher.
NEW YORK, Juno 2. The market for
coffee closed 4 to 11 points higher. Sales
were estimated at R7.000 bags. July,
10.27c; September, 9.94c; October, 9.83c;
December, 9.62c; January, 9.56c; March,
9.44c; May. 9.37c.
Spot coffeee was reported in moderate
demand at 11c for Rio 7s and 14,frc to
14 c for Santos 4s.
Metal Market.
NEW YORK, June 2. Copper, steady;
electrolytic, spot and futures, 1214c.
Tin, firmer; spot and nearby, $32; fu
tures. $31.75.
Iron, steady and unchanged.
Lead, firm; spot, $5.65 & 6.
Zinc, steady; East St. Louis, spot and
nearby delivery, $5.30.
Antimony, spot, $5.37(5.50.
" Cotton Market,
NEW YORK, June 2, Cotton futures
opened steady: July. 20.47c; Oct.. 20.1Sc;
December, 20.02c; January, IJhSOc; March,
13.62c.
Cotton futures closed strong; July,
20.i2c; October, 20.52; December, 20.39c;
January, 20.12c; March, 19.92c
Spot steady, middling. 21.35c
Sugar Market.
NEW YORK, June 2. Raw sugar, cen
trifugal, 4.29c ; refined, fine granulated.
5. 60 $i 5.70c. ,
SAN FRANCISCO, June 2. California
Uawaiian raw sugar, 4.265c
Dried Fruit at. New York.
NEW YORK. June 2. Evaporated ap
ples, dulL Prunes, quiet. Peaches, quiet.
BRITISH CAN WORRY
OVER in
Europe Breathes Since Mor
atorium Was Granted.
.v.1923 99
...1932 105
...1922 '10054
...1938
...1930 109H
.1941 SB;t
..192!
..1923
..1931
93
107
106
971
115
107 H
63
96 S
STABLE MARK IS QUESTION
German Manufacturers Dread Re
covery of taper Because La
borers Would Profit.
BY FRANCIS W. HIRST.
ICopyriBht, 1922, by Public Ledeer Com
pany. Published by Arrangement.)
LONDON, Juno 2. (Special Cable.)
"With the granting uf the moratorium to
Germany Europe breathes again and Brit
isher, who indulge in pessimism may con
centrate their anxieties on Ireland, where
another British occupation is regarded by
some as inevitable. Our trade with Ireland,
where another British occupation is be
lieved to be threatening, larger even than
our trade with India, is suffering severely
from prolongation of the strife tnat makes
life and property insecure in many dis
tricts.
On the sve of Whitsuntide the stock ex
change is marking time in most directions,
but the temporary settlement between
Prance and Germany, . supported by hopes
of an .international loan has given a sharp
fillip to German 3 per cent, which have
risen to 2. Strangely enough, Prussian
5i . per cents, which have also risen, are
only slightly higher than 1. . Both se
curities pay interest in paper1 marks" and
prospects of appreciation . depend upon
the question of whether or not the mark
can be stabilized at something better than
present values.
Low Quotations Prevalent.
The present very low Quotations of all
German securities suggest that the average
London speculator does not anticipate a
much higher valuation.
Many German manufacturers dread re
covery, because .depreciating marks enable
them to sell profitably abroad at the ex
pense of their workmen, whose real wages
diminish faster than their paper wages
need be increased.
Shallow or unscrupulous publicists are
arguing from this collapse of the mark
that Germany is prosperous and capable
of paying full treaty reparations, because
they say this depreciation of the currency
has reduced the interest .charge on Ger
many's international debt to a small frac
tion of the British debt charges. They
fail to explain that wholesale confiscation
cr private savings not only destroys public
credit ana the borrowing power of the
German government, but also reduces the
aggregate income of Germany as much as
it relieves German taxpayers and German
revenue.
Discount Kates Easy.
According to British treasury calcula
tions the German imperial debt before the
war was about equivalent to 254.000.000.
At the end of 1921, at pre-war rate of ex
change it had amounted to the prodigious
total or more than 15,000,000,000. but at
this rate of 770 marks to the pound it
was equivalent to only 414,000,000 and at
marics to the pound, which was. the
rate at the time of calculation, the equiva
lent was only 241,000,000.
British textile industries especiallv cot
ton and wool, maintain improvement, but
scneral trade languishes under the engi
neering aeaaioctt. mscount rates are easy
and a further bank rate reduction is expected.
88
.1930 106 &
.1948 W
New York Bonds.
Furnished by Herrin & Rhivl.. Tne . f
Portland:
Atch gen 4s 1995
u lj 1952
do is
B O gold 4s
do con, 4s cv 1933 88
do ref oa aas.
Canadian, southern 5s ......... 1962 98
Canadian Nor 64s 194H .11.154
Canadian Nor 7s 1940 1124i
Cent Fac 1st 4s l. 194ft fiw.
Ches & Ohio cv 4&s ............1930 . 88
do gen 4j5s 1992 S7&
do cv 5s . .....1946 94
do con 5s m.ift anov.
C B & Q 111 div 4s 1949 9
C & West Ind 4s ...1932 . 74
C G & W 4s 1959 .6
OMItStP 4s 1925 8014
do cv 4s 1932 70
do deb 4a 1934 64
do gen 4s A 1899 75
do cv 5s .2014 7514
do g and'r 4s A ...2014 63
Chgo N W gen 4s 1987 85
do 6s .1936 109
do 7s 1930 105 &
C R I & P ref 4s 1934 81
Colo Sou ref ex 4s 1935 874
do 4s 1829 93
Del &. Hudson cv 5s 1935 97&
do 7s 1930 109
D & R G cv 4s 1-936 78
do ref 5s 19&5 49
Erie P L 4s ..' ........1996 64
Erie con 4s A..... .......1953 b2
Erie B .1953 60
Erie D , 1953 - 52
Erie Pa C G 4s 1951 91
Gt Nor 4s 1961 91
do 7a, -X "1 ls,36 109
Gt Trunk 6s .........1 .1936 103,
do 7s - 1940 112
III Cent H 6s , 1963 94
do ref 4s 1953 87
Keo & Des M 1st 5s 1923 89
i931 82
L, & N 7s 1930 107
do uni 4s - 1940 9054
M St P & S M 6s 1946 102
M K & T 4s.... ,1990 8l
M P gen 4s 1975 ' 64
do ref 5s 1923 100
ao rei os ..1926
NYC deb 4s -. 1934
do con 4s 1998
do con imp 4s 2013
do cv deb 6s -. 1935
do coll is , 1930 105
in x in xx u n cv OS. ........ r. IU48
N O Tex & Sfex 5s 1935
NPPL4i 1997
N P 6s 2047
N P Gt Nor Jt 6s 1936
96
89
82
864
103
.1965
...1900
...1968
...1930
...1930
...1997
...1950
. ..1949
....1945
...1994
...1929
...1955
...1950
The Oregonian publishes practically
all of the want ads printed in the
other three Portland papers, in ad
dition to thousands of exclusive adver
tisements not printed is . any other
local paper.
...1931
. ..1950
...1931
. . .1955
...I960
...1952
.. .1932
...1989
. . . 2000
...1947
. ..1927
..200S
..1928 103
..1930 102
...1939
.1939
Penn 6s 1938
00 gen 4s
do 4s
do gen 5s
do 7s
do 6s
Reading gen 4s
S A L 4s
do 5s
do 6s A
Southern Ry con 5s...
Southern Pacific cv 4s.
do ref 4s
do sf term 4s .......
do conv 6s
StLtSPPLilA..
do Ken 5s : -.
do P L 5s B
do gen 6s
do adj 6s
do inc 6s
StLSW 1st 5s..'....
do con 4s
do 1st 4s
Tex Pac 1st 5s
Union Pacific 1st 4a...
do cv 4s
do ref 4s ...........
do 6s
T-'nion Tank 7s .-
Wabash 1st 5s
do 2d 5s
Western Pacific 5s 1946
Industrials
Am A&r Oh 7s ...
Am Sm first 5s ....
Am Tobacco 7s
Armour 4s
Beih Steel 7s
do ref 5s
Cerro de Pasco Ss ..
Chile conv 6s A ....
do conv 7s .......
Col Graph Ss
Copper Exp 8s
Colo F & I gen 5s .
Colo Ind 5s
Cuban Am Sugar Ss
Cuban Cane cv 7s ..
Distillers Sec cv 5s .
Diamond Match 7s
Pupont 7s '.
Empire Gas Fuel 6s
Fisk 8s
Gen Elec deb 5s ....
do deb 6s
Goodrich 7s
Goodyear 8s ........
Heinz 7s
Hershey 7s
Ill Steel dob 4s ...
Ind Steel 5s
Int Agr 5s
Int Marine C T 6s . .
Int Paper cv 5s ....
Kerneeott 7s ............... 1930
l,ack steel as
do first 5s
Liggett & Myers 5s .
v do 7s
Uorillard 5s , .
do 7s
Midvale 5s
Morris & Co 7a
Procter & Gamble 7s
Republic I & S 5s. ..
Sears Ro 7s . . .
Steel & Tube 7s ...
T'fi Drug 8s
U 3 B.ub 1st re! 5s.
82
H"4
86
105
105
109
91
96
99
109
109
85
58
26
57
95
90
87
82
.1934 103
.1950 71
98
87
103
79
62
80
75
78
95
97
94
85
....1929
....1946
....1925
1945
1945
1937
I960 134
... .1968
...17968
....1825
1956
1968
....1930
1943
....1941
1937
1942
90
117
13
68
100
96
"6
91
TJ S Hub 7s 1930 108
TJ S Steel sf 5s 1963 U1H
va onem os
Va Car Chem 7s .
West Elec 5s
W TJ T -col Tr 5s ....
West Union 6s .....
Wilson 1st 6s
do cv 6s
West Elec 7s .......
Westingbouse 7s . . . . .
Public Utilities -Am
Tel coll 4s
do 5s
do 6s
Bell Tel of Pa 7s ...
B R T 5s
Cal Gas uni 5s
Cities Service 7s B . ,
City Service 7s O
do D ,
Con Gas cv 7a ......
Int Met 4s
Int R T ref 5s
Laclede Gas 7s
Mont Power 5s A
Northwest Tel 7s ....
Pac Tel os
Pac Gas 5s
OH Bonds
Anglo Am 7s ..1925 103
Atlantic iter bs ..1931 103
Galena S Oil 7s 1930 103
Humble 7s 1923 101
Pan Am 7s 1930 101
Mex Pet cv Ss : 1936 107
Sinclair 7a ....1925 104
S O Cal 7s 3931 105
do N X 7s 1931 109t
Texas Co 7s ...1923 101
Tidewater Oi! 6s 1981 102
Vacuum Oil 7s 1938 107
Foreign government bonds
Argentine 2d 7s 1923 99
uu Ul . .. .............. 00
Belgium Ss 91940 107
Bergen 8s 1945 110
oerne OS .1940 112
Christiana 8s 1945 110
vopeiiiwigen 0.3 ............ .1944
Danish Cortsol 8s 1946
French cities 6s ....1934
Italy 6s A 1925
Rus Ruble 5a 1926
Swedish Govt 6s 1939
TJ S Mex 4s 1954
- do Mex ext 5s 1345
Uruguay Ext 5s........
Zurich 8s .1945
French Internal 4s. ......1917
do Victory 5s.... ......1920
Belgian Restoration 5s......... ...
British 2 Consols
Ital Cons. War jLoan. ...
Curb bonds
Allied Packers 6s. ............. ...
Am Tel & Tel 6s 1922 100
Am Tell & Tel 6s 1924 101
A-uaconuB. copper OS 1U0
ao is 103
Armour & Co 7s 104
eth Steel 7s 1935 102
Copper Ex Assn 8s .....1924 102
t-ujJliBr ejh. Ajsaua 03. ......... .Xtfd ltlti
Grand Trunk 6s loii
Gulf Oil Co S...7 ... 104
Mum'Dle Oil 7s 101
Sears Roe 7s 3-jear 1923 101
ho West Tel 7s 102
siana uu n. 1 og .1933 106
OO IS 1926 lOfili
Swift & Co 7s 1925 101
do 1931 102
Texas Co 7s Notes 20l
97
86
87
91
111
86
95
4
102
54
65
1 J
112
57
7l3
76
03
43
83
iT IS BETTER
MILLS ASI EXPORTERS AGATV
IN MARKET.
BONO MJSILT UNCERTAIN
INVESTMENT SITUATION
STIXL STRONG.
IS
"European Dealers Giving Close
Attention to Progress of Grow
ing Crop in America.
The weekly wheat review of Logan &
Bryan of Chicago, received yesterday by
Overbeck & Cooke company of Portland,
lollows:
Bearish sentiment predominated and the
prices recorded during the past week were
tee lowest in some time. Tne outstand
ing feature was the complete upsetting: of
bullish ideaaK concerning May contracts
This was brought about by a deluge or
grain from -all directions, for which the
futures proved the most profitable medium
of marketing. This was well emphasized
in the fact- that May went out at a dis
count under July, a new crop delivery.
On the surface this appears to be a.
bearigh consideration, but it remains to be
seen whether or not the movement repre
sented a clean-up of wheat in various po
sitions and whether the grain will con
tinue a drug on the market for the re
mainder of this month.
Yesterday and today, or since May
passed out of the picture, all cash mar
kets have displayed a better tone, with
millers and exporters showing: more in
clination, to take hold.
Charters have been taken the past two
days for more than 1,000,000 bnshels to
be moved out of Chicago. This is a local
condition and the world's position of wheat
will, as always, dominate the ultimate
course of prices.
With Russia listed among the import
ers, instead of being a leading exporter
as formerly, it is not reasonable to ex
pect that pre-war prices will obtain for
the next lew years, regaraiess 01 reau
justments in other directions.
European dealers are undoubtedly giv
inur r.inse attention to the progress of the
United States growing crop, because of
thA acknowledged close adjustment of sup
plies from the world's 1921 outturn. Hence
any signs of deterioration will likely be
followed by active ioreign uuyms m turn
petition with a broader domestic demand.
To date crop reports have been uni
formly favorable, but at this writing some
disquieting reports are beginning to come
in from various sections of the belt.
Excessive moisture and the appearance
of rust in. the southwest, as well as south
ern Illinois, Indiana and Ohio, is causing
more or less apprenension.
Liberties Affected by Realizing
Sales French Offerings Are
bull and Rails Irregular.
NEW YORK, June 2. Trading in bonds
today was mixed and uncertain through
out the session, but the" investment situation.,-retained
all its recent strength, as
evidencea toy the speedy sale ot the re
public of Bolivia (24,000.000 loan and sev
eral other new underwriting.
Liberty bonds were active, bat realiz
ing sales in that division deterred from
their strength, all but two of the entire
series closing' unchanged or at slight re
actions. British loans failed to reflect the
further strength of sterling exchange
and-French offerings were relatively dull.
Mexican government 4s lost 1 point while
the Ss were firm to strong with Havana
Electric 5s, Brazil- 8a, Denmark 8s, Neth-
ecland 6s and Japanese 4s.
The strongest feature among domestic
bonds was Peoria & Eastern .income 4b,
which rose 3 points to the accompani
ment of the higher price quoted for the
common stock. Chesapeake & Ohio 4s,
New Haven 3 s, Pennsylvania 7s and
St. Louis & San Francisco incomes also
were higher, but most underlying jails
ana mausiTiais were irregular.
Total bond sales, par value, aggre
gated $16,875,000.
Trading on the stock exchange today
was characterized by extensive and com
prehensive dealings, mainly at higher
prices, but Interest in the market itself
was overshadowed by interesting develop
ments in the domestic and foreign money
market.
Call loans opened at 5 per cent, the
highest initial figure in three months, re
laxing when all early demands had been
met to 4 per cent. Time money hardened
fractionally and accommodations again
were limited to short maturities.
British exchange continued to feature
international currencies, demand bills on
London rising to ti.4.7, an overnight ad
vance of two cents to the pound and the
highest quotation in three years. Other
European exchanges shared only slightly
in the strength of sterling, allied bills
gaining an average of about two points,
witn a reaction in the German rate. Neu
trals, especially the Dutch rate, rallied
from yesterday's setback, although pri
vate cables reported additional with
drawals of German financial reserves from
those countries.
Announcement of the Republic-Midvale-
Inland Steel merger evoked little enthu
siasm for independent steels, Midvale be
ing under constant pressure. Crucible was
steadily bought, however, and United
States Steel scored a new high for two
years at 103 shortly after Chairman Gary's
statement before a legislative committee
that the corporation's surplus probably
amounted to $400,000,000.
Oils, as a group, dominated the mar
ket's speculative side, the later dealings
being accompanied by extreme gains of
two to eight points in California Petrol
eum, Pacific Oil, Freeport-Texas and sev
eral of the lower priced issues.
; Studebaker advanced to a high, for the
year and other motors and their subsi
diaries rose 1 to 2 points. Tobaccos and
food specialties eased one to three points.
profit-taking being most pronounced in
coca coia, bumatra Tobacco and several or
the chemicals and fertilizers.
Miscellaneous issues were represented by
Columbia Graphophone preferred, which
reacted, and DuPont, the latter making
tne greater part or its net gain or 7,
points just before the close.
Kalis continued to lag. activity in that
division being confined to junior issues,
Peoria & Eastern being the most con
spicuous example at a gain of 3 points.
Sales amounted to 1,500,000 shares..
CLOSING STOCK QUOTATIONS.
Furnished by the Overbeck & Cooke
company of Portland
- Closing
Low. Bid.
Oregon Banking and Bond
News.
..1941
..1947
..1923
...3939
...1923
...1942
. ..1931
...1932
.. .1923
.. .1925
.. .1923
...1943
...1934
.. .1927
...1935 108
...1931 10'
...1924
...1941
...1952
. ..1940
...1925
...1941
...1930
. . . 1930
...1940
...1952
...1932
...1941
.1935 1V8
lft5
1923 99"
1950 90
1951 9fi
.....1944 - 113
1951 95
. . . ..1936
1830
.....1923
,...1940
,..-..1922
3951
103
924
102
S9
104
95
122
91
107
45
202
90
77
106
86
47
100,
106
100
106
99
115
104
103
90
99
80 '
97
Stock.
Advance .Rum
Agr Chem....
no ptd
Ajax Rubber..
Alaska Gold..
Alaska Jun. . .
Allied Chem..
Allis-Chal ...
do pid.:....
Am Beet Sug.
Am Bosch. . ..
Am Can Co.
Sales. High.
100 17
3,700 42 . 41 42
100 67 . 67 C7
1,100 18 17 17
100
100 -1 1 1
2,300 T0 69 70
5,800 . 50 49 49
iou so ao
800 47 47 47
600 46 46 46
6.800 50 " 48 50
do Dfd . 104
Am Car & Fd 400 166 166 166
! Correspond.
Jjr , enct tickler !
in this
lbe sieriograpj
: and ))er tools
HOW about your typewriter desks? Are they comfortable? Business-like?
Do they have ample drawer room compact,
neat space for stationery and card records? A typewriter support
that doesn t vibrate with every stroke of the keys ?
' West-Made is the ideal stenographic desk. One exclusive feature
is the correspondence tickler or 'worry-saver." This alone In
creases the efficiency of many stenographers 50. Companies like
the Durant Motor Company, Standard Oil, Shell Oil, Federal Re
serve Banks, that employ many stenographers, use West-Made
desks.
West-Made is a complete, line of office desks. Styles for executive or general
offices for business and professional people. But every style, sturdy, well-made,
good-looking. Added to the recognized merit is a substantial saving in freight,
: because West-Made desks are built on the Pacific Coast. Sold under unlimited
guarantee! V
' These dealers will be glad to show you the West-Made line.
WEST-MADE DESK COMPANY
Manufacturers
Portland, U. S. A.
KOham Stationery & Printing Co.
Glass & Prudhomme Co. , Bushon? & Co.
"The Tilty-Year Desk
L & N
Mackay
MarhLr.cl Oil : . .
Martin & Par.
May Stores...
200
200
7.800
5,900
2UU
Mex Pet ' 4,800
auo
1,700
J.900
800
800
800
900
200
1,100
118
9314
39
30
118
141
311.
1514
4114
18
41
73
23
23
58
118
9214
3814
83
118
13951
31
14
38
18
41
118
9214
'. .3914
.. 35
118
14114
30
1B14
I 38
38
41
Ahroeek .
Aleom&h
so
69
15
7a
do Dfd .
Am Cot Oil... 2,400
do pfd 100
Am Drug Sya . ... 300
Am Hide & L. 8110
do Dfd 1.400
Am Ioe 1,200 109
Am Intl Corp. 4.700 30
Am Linseed.. 1.900 S9
do pfd i 69
Am Loco 2,600 116 115 . 115
do pfd . 115
Am Sat Raz. 400 6 6
Am Ship & C. 800 24 . " 23 23
Am smelter.. l,iuu t oo to4
400 38
800 3874
800 Sl
200 107
6,800 43
123
143
141
33
2,700
1,900
i.soo
"ioo
3.400
4,300 128
800 100
' 100 91
100 105
3.500 41
20
38
1
1"5
101
95
I'm v.
.1941 HIK
Lumber conditions are Improving to the
extent that there is no problem of unem-
nlovment and money is plentiful in Ray
mond. Wash. This is the opinion of Fred
Eichner, cashier or me iJirst .National
Bank of Raymond, who was in Portland
yesterday. "For a . lon-g time Raymond
was hard hit, as were an other rowns ana
cities that are almost entirely dependent
upon lumber." said Mr. Eichner, "but now
conditions are improving. All of the mills
axe iw running and there is more real
prosperity in our section, or Washington
than in many montns."
.
'There is one of the best bankers in
this state," declared a vice-president of
one .of the Portland banks, as he pointed
at a woman m the institution yesterday
afternoon. He was referring to Marie
Barnett Cooper, president of the "W. M.
Earnett Bank of Wasco. She is one of
few women bank presidents in the entire
country and has gained the reputation - of
beinE highly successiui in a business way.
In addition to being a banker, Mrs. Cooper
runs a larfire wheat ranch. Jshe reported
that the prospects for wheat in Sherman
county this year axe equally as good as
they were last,
The bond department of the Security
Savines & Trust company Thursday pur
chased $188,695 worth of district interest
bonds from State Treasurer rioit. Tne
Angio-London-Paris Bank of San Fran
cisco participated in the purchase. ' The
companies bid a premium of 91350 for the
41 per cent securities. The bonds were
sold to pay guaranteed interest charges
on the state irrigation Donas.
At an organization meeting held Thurs
day in the First National bank, A. Lu Mills
was chosen president oi tne newiy or
ganized Pacific Coast Joint Stock Land
Bank of Portland. Other officers were
chosen as follows: W. L. Thompson and E.
R. Corbett, vice-presidents; E-. H. Geary,
treasurer, and Roger MacVeagh, secretary.
The new bank will not start active opera
tions before July 1. according to Mr. Mills.
An issue of 40.000,000 guilders . Anton
Jurgens' United Margarine Works bonds
will be sold today with a number of local
bond houses and banks participating. The
bonds will bear 6 per cent interest, are
due July 1, 1947, and are non-callable be
fore January 1, 1928. White. Weld & Co.
and the Union Trust company of Cleve
land, O., are the underwriting companies.
Demand for the 8 per cent 25-year
bonds of the republic of Bolivia, when the
issue was placed on the market yesterday,
was so great that before noon the entire
amount Qf 525,000,000 was sold. Most of
the bond houses of the city participated
in the eale. Blyth, Witter & Co. was one
of the underwriting companies.
.
' Glenn E. Miller, president of G. E. Miller
& Co., left last night for San, Francisco,
where he will remain for a few days trans
acting business for his concern.
,. .
W. A. Tyler, vice-president of the Asr
toria National bank, was in Portland yes
terday for a few hours. . .
. Chicago Potato Market.
CHICAGO, June 2. Potatoes Receipts,
36 cars: total United States shipments.
596- market, stronger; Wisconsin sacked
round white, JL401.56 cwt. ; Michigan
sacked bulk, 1.451.S5 cwt.; Idaho
sacked russets. S1.90ffl2 cwt.; Louisiana.,
sacked Bliss Triumphs, $2.802.73 cwt.;
Alabama, sacked Bliss Triumphs, $2.75
2.90 cwt. : Texas sacked Bliss Triumphs,
$2.302.50 cwt.; South Carolina, Irish Cob
blers iio. 1. $5.65,
do Pfd
Am Snuff
Am Steel Fdy
Am Sugar . . .
do pfd
Am Sumatra.
Am Tel & Tel 3,300
Am Tobacco..
do "B"
Am Wool
Am W P pfd.
Am Zino
Anaconda . . .
Assd Oil
Atchison
do pfd
Atl Coast Line
Baldwin Loco 6,100 117
do pfd
B & O
do pfd
Barnsdell ' . . ..
Beth Steel 'B'
Booth Fish
B R T
Butte C & 2. .
Butte & Sup..
Barnes Bros.,
Caddo Oil ...
Calif Packing
Calif Pet
do pfd
Can Pac .
Cent Leather.
Cerro de Pas..
Chandler Mot
Chi & N Wf..
Chgo Gt W ..
do pfd
Chill Cop . . .
29
9
-6
15
71
108
49
39
98
119
29
59
15
71
108
49
39
C M St P
do pfd. ....
Coco Cola
C & O
Colo F & I. ..
Colo Southern
Col Gas & EL
Col Graph ...
Con Gas
Cons Cigars. -
do pfd
Cont Can
Cities S oc B.
Corn Prod . .
do pfd
Cosden Oil
C R I & P.-
do "A" pfd
do "B" pfd
Crucible
do pfd
Cuba Cane ..
do -pfd
Cuban Am S
Dome Mines..
Del & Lack..
Davis Chem..
Endl Johnson
Erie
do 1st pfd..
Elec Stor- Bty
Famous Play.
Fed Mn & Sm
do pfd
Fisk Tire. . . .
Gaston Wms. .
Gen Cigars ..
Gen Elec ....
GeV Motor ...
do 6
Gen Asphalt..
Goodrich
Goodyear
Granby .
Great Nor Or.
do pfd
Gre Cananea..
Gulf S Steel..
Glen Alden
Houston Oil..
Hupp Motor..
His Cent
Inspiration ...
Int Ag Cp cm
do pfd
Interboro .
do pfd
Inter Call
Int Harv ....
do pfd
Int Mr Mar..
do pfd
Int Nickel
Int Paper ...
do pfd
Invincible Oil.
Island Oil ...
Jewel Tea . . .
K C Southern.
do pfd
Ke.ly-Sprfld ..
Kennecott .
Keystone Tire.
Lacka Steel...
Lee Tire
Lehigh Valley.
LoriUard
jjowe -Xheatera
106
40
123
142
140
92
"26""
66
123
89
91
105
50
116
"49'
61
47
77
7
' 27
"32"
138
13
78
' 63
i39"
40
39
75
75
9
22
33
27
42
67
66
33
49
So..
6
116
31
2,400 69 66
98
130
38 - 38
79 . so-ji
2,800 SO
100 61
900 47
1,900 78
1.800 7
3,800 . 27
"466 'S2
4,100 139
100 . 13
300 78
47.800 71
"066 i39
6,800 41
2,700 ,40
. 7,800 76
800 75
300 9
"5,760 23
1,400 33
100 27
1,600 43
12,300 70
40O 66
3,700 35
100 49
t.200 88
16.S00 5
300 116
600 32
1,200 103
100 115
31,900 47
3,400 45
100 . 98
400 84
3,800 76
"l'ioo 17
1,800 37
16,800 . 26
200 29
200 124
600 59
1,700 84
900 17
900 25
9,900 . 48
800, 85
""266 51
, 900 IS
"2,4O0 78
200 167
2,100 .15
13,100 67
1,300 . 43
'"266 33
2,000 42
900 77
200 34
900 85
8,800 82
800 20
200 106
700 44
700 . 11
"200 41
500 2
.900 4
4,400 - 10
800 106
" 2, 100 25
1,900 86
900 18
800 51
"""900 is
1,000 1
100 21
900 26
l'.-ioo 51
3,900 39
4,900 21
1,000 77
5,966 66
900 158
1,400 16
102
115
46
44
: 98
'84 -73
17
36
25
29 .
124
58
83
16
25
46
85
50
17
76
167
WA
66
42
33"
40
76
34
82
81
20
106
44
. 11
- 41
1
4
10
105
24
84
17
52
18'
1
20
2
si "
38
.20
. 7
65
158
.16
106
42
123
142
140
93
33
20
56
128
99
91
104
40
116
111
49
61
47
78
7
27
7
32
138
13
78
70
97
139
41
39
75
75
20
2S
32
,27
62
68
66 '
34
49
87
6
116
32
67
68
23
102
115
47
44
97
83
75
94
' 17
37
26
29
124
59
83
16
25
47
85
10
50
17
77
166
14
82
66
43
12
33
41
76
34
S4
5.1
. 82
20 3
106
44
11
. 41
1
- 4
10
105
112
24
B4
18
62
So
18
1
20
26
07
51
38
21
77
S3
65
158
16
1,700
900
900
1,200
'200
1,100
6,300
900
1,500
300
900
1,100
5,100
.2.800
7.600
1,400
3,900
300
700
1.300
9,800
600
3,100
67
147
65
19
33
108
76 -
78'
91
4
8
27
14
9
72
48
68
72
65
42
85
34
84
66
20
10
66
37
' 89
-. 79
122
19
76
23
23 .
67 .
66
146
52
18
32
107
75
78
90
3 '
8
26
14
9
71
46
04
' 71
64
41
84,
33
33
53
19
10
65
86
S8
79
122
18
75
Miami
Mid States Oil
Midvale Steel..
M K & T WI..
do pfd
Mont -Power. . .
Mont Ward... .
Mo Pacific. . . .
do pfd.
MStP&SSM
Nor Amer 1.80O
JNat .Biscuit. . . 500
Nat Enamel. . 2.800
Nat Lead
Nevada Con...
New Haven. . ..
Nor & West. . .
Nor Pacific...
Nova Sco Steel
N Y Air Brake
N Y Central. .
Okla Prod ref.
Ont Silver
Ont & West. .
Otis Steel
Paoif ic Dev. . .
Pao G & E
Punta Allegro.
Pacific Oil
Pan Amn Pet.
do "B"
Penn
Peoples Gas. ..
Pere Marq
.Pure oil
Phillips Pete..
Pierce Arrow. .
Pierce Oil
Pitts Coal 8,000
Pitts & W Va. 4,200
do Dfd 200
P Steel Car... 100
Pullman 200
Ray Con 1,700
Reading 2,600
Remington
Replogle Steel. 3,600
RepUb 1 Q., 44.2UU
do pfd a.iuo
Rep Motors. ... 6,100
Koyai XJ uiu. xa.ow
Rv Steel Spg.. 100
Stand Oil Ky
Sears Roebuck
Shattuck, Aria
Shell T & T. . .
Sinclair
Stand Oil Ina.
Sloss Shef ....
So Pac
So Ry
Stand Oil Cal.
StLiSF...
Strom Garb...
Studebaker ... 45,800
Swift & Co
Tenn uop c u. 1,400
Texas Oil .... 43,800
Texas Pac . . . 1,000
Tex P O & O. 1,800
Tob Prod 12,600
Tran Cont Oil 9,600
Union Oil Del 14,200
Union Pao ... 300
United Alloy . low
United Drug.. 100
Un Fd Prod.. 8,600
Un Fruit 100
Un B & P
TJ S O I Pipe
Un Ret Stores. 16,700
U S Ind Alco. 2,900
TJ s Rub 2,100
do 1st Did
TJ S Smelt ... 200
TJ S Steel .... 45,600
do pfd
Va onem .... ,000
do ofd ivu
Vanad Steel . 4,100
Vivandou .... 800
Wabash 3,800
do A pfd... iw
do B pfd
Wells Fargo... 1,400
Was Pao ... 300
do Pfd "l
West Union... 100 98 98 97
Westghse A B ...... o
do E &M... l.ouo oz) , - o
West Md 900 12 11 12
White Motora.2.900 51 50 60
Willys-Over... 8,600 9 9 9
do ma ouo '-
Wilson Pack..' 200 46 45-- 45
WIh Cent 80 '
Woolworth ... . 100 157 157 157
Worth Pump... 1.300
W & Lt t2. .. . 0,300
White Oil ... 1,600
Cal & Ariz
400
900
200
3,900
'466
3,900
4,300
8,400 118
4UO 2914
500 65
34
75
84
13
62
104
104 1
79
11 -44
:
36
119
48 :
90
24
117
29
54 ,
125 123 124
.... JAM
12
49
32
40
80
18
38
78
95
14
64
104
108
79
12
44
37
120
49
80
24
23
23
66
68
66
146
63
95
19
2
107
76
36
78
' 3
8
27
.14
9
. 72
47
68
72
65
41
84
83
34
64
19
1U
65
3b
89
. 78
122
18
75
34
35
77
95
14
64
103
104
79
11
44
37
120
49
90
24
117
29
64
Daly West .
East Butte
Franklin Mi:
Hancock . . ,
Helvetia . . .
Island Creel
Keewanaw .
Kerr Lake
Lake Cop ..
La Salle ...
Mohawk.
May Old Colony
Mason Valley ...
North Lake
Oseola Mng ....
Obijawa .......
Quincy Mng ...
Isle Royal
South Lake . . .
Sup & Boston .
Un Shoe Mach
do pfd
Superior Cop ...
Trinity Cop ...
Utah Con
Utah Apex
Ventura . . .
Wolverine
,64 65
, 20 50
.28 29
, 4 4
. 15 16
. 64 . 65
287 290
,20 20
. 11 ' 12
, 8 8 15-16
, 2 2
, 11 11
.-2, 2
, 3 3
1 1
.112 113
. 2 3
, 3 3
. 4 4
; 1 2
. 2 3
. 7 8
. 5 5
. 2 2
. 14 14
. 6 6
. 30 50
. 27 28
. 26' 27
. 3 8
. 38 39
. 26 26
. 47 48
. 1 . 1
. 40 40
. 26 27
. 4 4
.15-16 1
. SO 85
. 1 1
.3 3
. 44 44
. 3 3
. 33 83
. 1 - 2
. 15 16
12
50
32
32
81
19
24
189
38
78
' 9
141
12
50
32
32
80
1
68
58
65
44
103
300 120
2,600 68
33
70
61
12
12
32
"78'"
21
24 . 24
189 139
38 38
. 78 78
8
140
, 66
34
66
57
64
104
44
-02
119
68
32
70
. 50
12
12
32.
22
78
20
8
141
66
66
64
'44
100
119
68
32
69
50
12
12
31
"76
64
14
10
f Liberty Bond Quotations.
Liberty bond and victory note ouota-
tions furnished by the Overbeck & Cooke
company, Portland:
Open. High. Low. Close.
Liberty 3 .... 98.88 100.00 99.88 100.00
do first 4s 99.80
do second 4s " 99.86
do first 4s.. 99.96 89.98 99.90 99.92
do second 4s 99.92 99.98 '99.92 99.94
do third 4s. 99.94 99.98 99.92 99.92
do fourth 4s. 99.94 99.98 99.94 99.96
Victory 4 8 ....100.60 100.62 1O0.5S 100.60
do 3s 100.02
Honey, Silver, Etc.
1 NEW YORK, June Z. Call money
easier. High, 6; low, 4; ruling rate, 6;
closing bid, 4; offered at 5; last loan.
4: call loans against acceptances, 4
Time loans firmer. Sixty days and 90
days, 4; six months, 44.
Prime mercantile paper, 4.
Foreign bar silver, 71c.
Mexican dollars, 54 c.
LONDON, June 2. Bar silver, 36d per
ounce. Money z per cent-
Discount rates, short bills, 2 5-16 per
cent; three-montns bills, 2Z 7-16 per
cent. -
Swift Co. Stocks.
Closing prices of Swift & Co. stocks at
Chicago were reported Dy tne overbeck &
Cooke company of Portland, as follows:
Swift & Co .....103
National Leather 2
do new 8
Swift International 20
Libby. McNeill & Libby 2
Bolivia, Loan Oversubscribed,
NEW YORK, June 2. Bankers an
nounced today that the issue of $24,
000,000 Republic of Bolivia external 25
year 8 per cent gold bonds had been over
subscribed. -
Mining Stocks at Boston.
Furnished by Overbeck & Cooke Co. of
Portland.
Bid. Ask.
Ariz Com . . ... .... ... .. . 10 10
Adv&ature 65 11
Foreign Xixchange.
Foreign exchange rates at the close ot
business yesterday, furnished by the North
western National bank of Portland. The
amount quoted is the equivalent of the
foreign unit in United States tunds:
country and unit. . Rate.
Austria, kronen ....r; ......S .00025
Belgium, francs .08510
Bulgaria, leva '...1.. . .00800
Czecho-Slovakia, kronen. .02000
.Denmark, kroner .21850
England, pound sterling. ....... 4.49625
Finland, rinmark ...
France, francs ....
Germany, marks
Greece, drachmas ..
Holland, guilders ..
Hungary, kronen . .
Italy, lire
Jugo-Slavla, kronen
Norway, kroner ....
Portugal, escudos ..
noumama, lei
.02200
.09160
.00400
.04290
.38830
.00180
.05260
.00400
.17910
.08550
.00730
Serbia, dinara .01560
Spain, pesetas
.15880
Sweden, kroner 25920
Switzerland, franca .19160
China Hongkong, local currency.. .58250
Shanghai, taels .82000
Japan, yen 48250
NEW YORK, June 2. Foreign exchange
irregular. Great Britain, demand $4.47.
cables $4.47, 60-day bills on banks
$4.45; France, demand 9.12, cables
9.12; Italy, demand 6.22, cables 5.22;
Belgium, demand 8.43, cables 8.43; Ger
many, demand 37, cables 31; Holland-
demand 38.85, cables 38.80; Norway, de
mand 17.8o; Sweden, demand 25.90; Den-
mark, demand 21.78; Switzerland, demand
19.14; Spain, demand 15.85; Greece, de
mand 42.22; Poland, demand .02; Czecho
slovakia, demand 1.92; Argentine, demand
36.37; Brazil, demand 14.00; Montreal,
80 1-16.
Standard Oil Stocks.
Standard Oil Quotations furnished by
Overbeck; .& Cooke company of Portland :
Bid. Asked,
Anglo 21 22
orne escrysmer ...... .aya
Buckeye 95
Cheesebrough 195
do pfd ..........110
Continental ................. .144
Crescent ..................... 64
Cumberland ............. ... . . 130
Eureka 95 :
Galena com 56
do Old pfd 107
do New pfd ......100
Illinois Pipe 173
Indiana Pipe 98
National Transit 29
N Y Transit 175 :
Northern Pipe 107
Ohio Oil .....308
International Pete 27
Penn Mex 38
Prairie Oil 640
Prairie Pipe 264
Solar, Refg ...360
Southern pipe , 97
South Penn Oil 230 -
S W Penn Oil 83
S O Ind . 119
S O Kansas ........560
S O Kentucky 105
SONY 438
S O Ohio .-,.....460
S O Ohio pfd 116
Swan & Finch 30
Vacuum ................. .445 -
Washington 20 -
S O Nebraska ..18a
Imperial Oil .... 124
405
97
205
112
147
36
140
98
58
110
104
178
98
30
180
109
312
27
42
650
268
370
99
234
65
119
OYO
110
442
"475
118
33
450
30
195
126
Foreign Bonds.
Furnished by the Overbeck & Cooke-com-
pany of Portland.
"Belgian rest 5s
do prem 5s
do 7s 1945 ,.
do 8s 1941
do 6s 1925
British 6s 1922 ..
do 5s -1927
Bid.
71
....... 75
.......109
107
102
90
93
do 5s 1929 93
do vky 4s l
do ref 4s 77
Bordeaux 6s 1934 86
Canadian 5s 1937 98
do 5s 1926 99
do 5s 1929 100
do 5s 1931 98
do 5s 1927 99
Chinese 5s 1951 53
Chilean 8s 1941 104
Denmark 8s 1945 110
Dan muni 8s 1945 110
French 4s 01
do 5s 1920
do 5s 1931
do 7s 1941
do 8s 1945
German W L 5s .....
Berlin 48
Hamburg 4s ,
do 4s
Letpslg 4s
do 5s
Munich 4s
do 5s ......... ..
Frankfort 4s
... 81
... 69
102
104
... 2
... 2
... 3
... 3
... 3
... 3
... 3
... 3
Ask.
74
79
109
107
102
93
V6
" 96
80
87
. 99
.99
101
98
100
54
105
111
1U
08
83
70
102
104
8
- 3
' 3
4
4
4
4
4
Italian 6s 1918 41 42i
Japanese 4s 1931 77 771:
do 1st 4s 1925 90 91V;
do 2d 4s 1925 89 90
Norway 8s 1940 110 110
Russian 5s 1921 18 21
do 53 1926 4 5
do 6s 1818 18 22
Swiss 6s 1929 101 102
do SS 1940 .....117 118
San Paulo 8s 103 104
U K 5s 1922 108 108'-.
A lO'lO THUS
do 5s 1937 t'."".!I"'.'."!'.102 102'
Swedish s 1939 101 101
SAN FRANCISCO PBODBCK MARKET
Pri crs Current on Vegetables, Fresh Fruits,
Etc.. at Bay City.
SAN FRANCISCO, June 2. (State Di- :
vision of Markets. Fruit Apples, 3 04
tier, s2.lD3o; navel oranges, so.oo(tfb;
Valencias, $6.508; lemons, 15 07; grape
fruit, t34.25; strawberries, $1.101.30:
cherries, box, $1.251.75; apricotB, pound
1014c; raspberries, drawer, 85c$l.
gooseberries, pound, 1012c; cantaloupes
standard crate, $15; rigs, small box, $1.50
2.25; peaches, small box, $2.753. Wa
termelons, 89o pound; plums, $2.50 box
Vegetables Artichokes, large crate, $4
6; asparagus, pound. 310c; beans
pound, 610c; carrots, sack, $3.504;
celery, nominal; cucumbers, dozen, 75c
rooms, nominal; white onions, crate, $1.25
1.50; yellow, hundredweight, $11.15;
parsnips, sack, $33.25; peas,' pound,
4c; potatoes, 11.602.75; new, 8 gr
4c; rhubarb, box, $1-351.50; enmmei
squash, crate, 8575c; spinach, pound, 2
4c; tomatoes, $33.25; turnips, $22.25
Receipts Flour, 3580 sacks; wheat, 800
centals: barley. 6171 centals; corn, 160('
centals; potatoes, 1500 sacks; onions. 844
sacks; hay, 240 tons; hides, 2072; livestock.
75 head.
Receipts Flour, 1168 Quarter sacks:
barley, 8671 centals; corn, 1752 centals:
potatoes, 330 sacks; onions, 1021 sacks:
bay, 110 tons; hides. 408.
QUOTATIONS ON DAIRY PRODUCE
Current Market Ruling on Butter, Cneese
and Eggs.
SAM FRANCISCO. JUM 2. TJBdted
States Bureau of Markets,) Butterr-E
tras, 40c; prime Iirets, 88c.
Eees Extras. Z7o; extra iirera, aoc;
extra pullets, 22c; undersized do, 19c
uneese oailiorzua xi&is, xancy, .lotoi
lb,; Young Americas, fancy, 24c.
NEW YORK. June 3. Butter Firm
Creamery higher than extrae, 35 (836c,
-packing stock current make jxo. a
Eggs Weak. Fresh gathered- extru
firsts. 2827o: firsts. 25826o; storag'
packed extra firsts, 2S28o; firsts, 261
tfzic
Cheese-Steady.
uriAr.o June 2. Butter Higher. Re
oeipts, 1358 tubs; creamery extras, ac
firsts, soB33c; eeooaaa, ioiao; si&uu
ards, 34c
Eggs Unchanged. Receipts, 25,21
cases; firsts, 2323c; ordinary first.
21 22c; miscellaneous, 2222c.
storage packed firsts, 24 .
Cheese uncnangea.
SEATTLE, June 2. Butter and eggs un
changed.
GAINS IN BUSINESS MAINTAINS!!
Month Opens With Promise of Forth: .
Improvement.
NEW YORK, June 2. Dun's Review t o
morrow will say:
"Another month has opened with rece.
gains in business maintained and wu:
promise of further Improvement to follow
Current reports from different trades ai i
sections of the country give rise to co: -fident
expectations and support the mo'
general belief that recovery from previo:.
depression has definitely developed.
"Revival in some basic lines this yc:.
has steadily gathered momentum, desp' -various
drawbacks and idleness amo -workers
has appreciably diminished wi .
the increased opportunities for emplt .
ment. Labor troubles in the coal mini' :
and textile fields, continuing for ma :
weeks, have tended to prevent a f .-
measure of progress, but the position
most operations is more closely approac
ing capacity.
"Weekly bank clearings were $5,747,
513,000." ,
Naval Stores.
SAVANNAH, Juno 2. Turpentine stea.i
90c. Sales, 371 barrels; receipts 459; sh:-'-ments,
680; stock, 1575.
Rosin firm; sales, 545; receipts, 13C. .
shipments, 1853; stock, 59,113. uotatior :
B, $4.45; D, $4.70; E, $4.90; F, G, H, $5.1
I, $5.15: K, $5.45; M, $5.60; N, $5.75; ':.,
$6.35; WW, $6.75.
Cottonseed Oil Futures.
Cottonseed oil futures at New York, fur
nished by Herrin & Rhodes, Inc.. Portlai.
June, $lli&11.50; July, $11.5511.5
August, $11.6011.01; September, $11.6S
II. 60; October, $10.9610.97: Novembn
$9.719.73; December, $9 529.63; Jan'
ary, $9.519.53; spot bid, 1111.17; tot.
saies, 5700 barrel
HERRIN & RHODES, Inc.
Established 1896.
STOCKS, BONDS,
COTTON, GRAIN
Correspondents E. F. HTJTTON ft CO., N. T
Members all leading exchanges,
Babeon's Service on File.
Bdwy. 4725. 201 Hallway Exchange Bids
Swift & Company
Onion Stock Yards, Chicane
Dividend No. 146
Dividend of TWO DOLLARS ($2.00) per share or
the capital stock of Swift ft Company, will b
paid en July 1, 1922. to stockholders of record.
June 10, 1922, as shown on the books of the
Company.
C A. PEACOCK. Secretary