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

. . THE MORNING OREGOXIAN, TUESDAY, JUXE ,-27, 1923 '
S EXCEED LOSSES
CHANGES IX BOND , PRICES
GENERALLY SMALL.
Moat Liberties Sell Over Par
With Extensive Dealings.
Leading Rails Higher. " -
Mont Power
Mont Ward 5,900
Mo Pac 800
do pfd 800
M St P & S S M. .....
Marland Oil 11,200
Martin Perry.... 600
Nat Enamel 100
Nat Lead -.2,200
Nevada Con 400
New Haven
Norfolk & W
2314 .
2114
34
""
S514 .
18
900 30
500 108
23
2114
54
30
47
94
16
30
6014
22 V4
21
53
57
43
30
Armour cv 7s
do 4s
Beaver Board
Beth Steel 7s
. do eq is
do ref 5s . .
Cerro de Pasco 6s. .
47 I Chile conv 6s A..
9414
16
29
1T7 107
NEW YOKK, June 26. Dullness was
the. chief feature of today's bond mar
ket, dealings being lighter and more
contracted than at any recent period.
Gains outnumbered" recessions, but
changes in the more Important Issues
were nominal. ,
The entire Liberty group, with one ex
ception, again sold well over par, but
no new records were established, despite
heavy operations in the several 414 per
cent issues.
British loans hardened slightly In re
sponse to the better tone of sterling
exchange, but French loss continued to
ease on the backwardness of the local
Paris rate. Mexican governments made
up more of their recent reaction and
Cuba, Can 7s and 8s improved.
Gains averaging one point were reg
istered by many, rails, especially those
r fne investment type. Among these
ere Central Pacific first 4s. Pennsyl
vania general 5s, St. Paul refunding
4s, Kansas City Southern 5s, Missouri,
Kansas & Texas 5s and Chicago & East
ern Illinois 5s. Total sales (par value)
aggregated $14,733,000.
New corporate offerings of the day In
cluded Wabash Kailway $4,500,000 of 5
per cent equipment trust certificates,
which were Immediately disposed of, and
New York Steam Corporation $5,000,000
first mortgage 6 per cent bonds.
Reports that the stock exchange had
found no proof of an attempted "corner"
In Mexican Petroleum today sent that
took back into its recent leadership,
to the -utter demoralization of the shorts.
The faction covered frantically' at the
outset, the stock soon advancing in
comparatively Bmall lots to 19414 against
fast week's closing price of 181. At
xnidday, after several moderate reactions,
It rose to 20414. In the latter part of
the session selling for profits caused
a. more substantial setback to the final
price of 195, a net gain of 13 points
end 9 points over the year's previous
maximum.
Pan-American tPetroleum "A" and B"
Shares m-ade extreme gains of 614 and
7 points, respectively, retaining the
greater part of their advance, but other
oi'ls, the domestic group, . derived little
benefit from further price advances in
crude and refined products.
Several of the investment rails were
disposed to add moderately to last week's
general advance, but gave way to the
realizing of the later dealings, when call
money rose to 514 per cent, after open
ing at 4 per cent.
Irregular gains among motors and rub
ber accessories, also tobaccos and food
specialties, proved to be only temporary
for the most part, although United States
Rubber products were up for the day.
Sales amounted to 800,000 shares.
In view of the deficit in actual cash
holdings reported by the clearing house
banks last Saturday and preparations to
meet July interest and dividend p
ments, today's hardening of call loans
occasioned little surprise. Time rates
were unaltered, but the supply of such
funds was visibly smaller.
Foreign exchange conditions were very
confusing, but the trend of leading re
mittances was firmer, French bills prov
ing the only noteworthy exception. Ster
ling rose fuliy 3 cents over last week's
low quotation, marks rallied a large
fraction and most other continental rates
rallied 2 to 10 points.
CLOSING STOCK QUOTATIONS.
Furnished by the Overbeck & Cooke
company of Portland:
bales. High. Low. Bid.
Nor Pac ..- 2,400 7714 76
Nova Scotia St. , '
N T Air brake... 200 74H 7414
N T Central 14,200 96 4
Nor Amn 300 6214 2
Okla Prod Ref... 900 3 314
Ontario Silver... 600 714 714
Ontario & W 700 .2714 26
Otis Steel 100 1114 1114
Pacific Dev 1,100 7 7
Pac as & Elec
Punta Altegre .. 1,400 49 48
Pacific Oil 6,400 58 57T4
Pan Amn Pet... 70,200 88 80
do B 2,500 82 76
Penna 2,300 42 42
Seo Gas
Pere Marquette.. 1,600 31 81
Pure Oil 800 30 30
Phillips Pete ... 2.800 52 51
Pierce Arrow.... 1,000 1 9 19
Pierce Oil 1,100 8 814
Pitts Coal 200 62 62'
Pitts & W Va... 1,400 37 38
1'enn Gen Steel. .10,200 . 9 8
Pr Steel Car 100 76 76
76
31
74
9514
62
314
714
2614
11
7
72
4S
58
8514
80
42
83
31
30
51
19
8
62
36
9
75
do conv 7s
Col Graph is
Copper Exp 8s.
do Exp 8s
Colo F & I gen 5s......
Colo Ind 5s -.
Cuban Amn Sug 8s....
Cuban Cane cv 7s
Distillers Sec cv 6s
Diam Match 7s
uupont 7s
1930
1939
1933
1923
1935
1942
1931
. 1932
1923
1925
1924
1925
. 143
, 1934
. 1931
.' 1930
. 1927
, 1935.
19316
105 106
183 183
89
23
Pnllmnn 400 120 120V1 120
Ray Cons........ 1,200 16 16 16
Reading 3,700 75 74 75
Remington 300 35 85 3414
Replogie Steel... 800 32 31 31
Republic I & S. . 700 71 71 71
do pfd 100 92 92 91
Rep-Motors 200 11 11 11
Royal Dutch Oil. 1,800 60 59 59
Ry Steel Spg - 100
Stand Oil Ken 95
Sears Roebuck . 2,000 77 76 o
Shattuek, Ariz... 9
Shell T & T 000 41 41 41
Sinclair 18,900 33 32 32
Stand Oil Ind 108
do N J 500 1
Sloss Shef
Sou Pacific ..... 6.000 90
Sou Rv 8.500 24
Standard Oil Cat 1.500 106 103
St L & S F 300 28 27
Stromberr Carb.
Studebaker .....33.600 130 128
Swift & OO 11
Tenn Cop & Che. 800 " 11
Texas on i a
Texas Pac 2,100 28
TexPaoC&O.. 100 27
Tob Products ... 5,400' 84
ran Contl Oil.. 1.400 15
Tlninn Oil Del... 900' 21 54
Union Pac 1,500 138 137 137
Unit Alloy x a oi
United Drug 100 76 76 76
United Food Pro 200 9 9 9
United Fruit ... 300 139 139 139
Union BAP.... 100 2 62 82
U S C I Pioe.... 1.500 31 29 31
United Retail St. 13,100 67 65 66
U S Rub 14,700 64 62 -.63
U S Ind Alcohol. 1,600 57 36 56
U S Rub 1st pfd 100-4
U S Smeltlngi ... 200 40
n S Steel 12.200 99
do ptd 2() azo
utan uopper ... zw oo-a
Va Chem 100
do pfd .-. 400
Vanadium Steel. 2,500
Vivandou 4O0
Wabash 1.500
do, A pfd . a, 100
do B pfd
Wells Fargo .
Western Pac ....
do Dfd
Western Union.. .
Westing A B
ao & & si
West Md
White Motors
Willys-Overland .
do -pfd
Wilson Packing.
Woolworth
Worthington Pu.
W & L E
White Oil
White Eagle Oil.
Adams Express.
Advance Hum ....
do pfd
Agr Chem 100 3H 39
Ajax Rubber ... 2,000 15 14
Alaska Gold
Alaska Juneau
Allied Chem
Allis-Chalmer s. 200 50 49
do pfd. .
Am Beet Sugar. 1,00 46 45
Am Bosch
Am Can Co 1,200 47 46
do pfd.
Am Car & Fdy
Am Cot Oil
do pfd
Am Drug Syna. 400 5 5
Am Hide & Lth. . eoo 14 14
do pfd 200 68 68
Am Ice 300 16 104
Am Intl Corp.,. 500 4i 42
Am Linseed .... 500 '33 33
do pfd. -
Am Loco 300 113 113
do pfd.
Aim Ship & Com 200 19
Am Smerter 4,200 60
do pfd.
Am Steel Fdy... 900 37
Am Sugar 6,300 80'4 78 79
do pfd .104
Am Tel & Tel.. 1,300 120 320 120
Auiawv ... . iuu Ida iija mif
do "B" Pfa- .
Am Wool 700 8ft u SR &a
do Pfd . . 107 V.
19
59
36
18
48
39
14
14
OS
49
93
46
41
46
103
119
26
53
14
67
103
42
33
53
113
116
19
59
36
1,200 52 52
98
91
103
39
113 !i
50
btl
36
75
7
26
Am W P pfd
jun zinc
Anaconda
Aasd Oil
AJKhlson 1,700 09
do pfd. 1,500 91
At Coast Line.. 1,000 104
Atl Gulf & W I 8.700 41 u
Baldwin Loco... 4,900 114
do tlfd. .
BaJto & Ohio. ..13,200
do pfd. 100
Earns Corpn.... 700
Beth Steel "B". 1,300
Booth Fish 200
B R T 5,000
Butte O & Z...,
-fctutte & sup.
Burns Bros .... 800 131
Caddo Oil .. 200 12 4
Calif Packing . . 300 78
Oallf Pta 2,100 65
Canadian Pac"'. "766 139 13&
Oen Leather 1,200 38 . 37
Chandler Motor. 2,000
Chgo & N W. . . l.SOO
Chgo Gt W 1,100
do pfd 400
Chill Cop 4,000
Chino 300
C M & St P 1,300
do pfd 1,000
Coca Cola 400
Colo Southern 45
C & O..... 2,400 67 66 6
.uiu i- og 1..'... iuu 2!i 2!1
Col Gas & Elec. 800 86 86
uoiumma Graph noo 4 4
Con Ga 100 110 116
Cons Cigars 600 34 82
do pfd........
v"uu n.it ...... .... H7
Cities Svc Bkrs. ...... 2214
r--r, x- nnn . :iii: r.
" ...... 1,1011 1UO 103 104
do pfd.. 600 117 117 117
?T5 , t ii 17:300 47? 45 46
i, x oc tr - i.eim
do "A" pfd 700
do "B" pfd.. . 600
Crucible 2,600
do pfd 100
Cuba- Cane 2,100
do pfd 2.200
uuoan Amn sug 2,100
nuason
" Dome Mines . .
Del & Lack
50
60
36
76
7
28
35 H
71
75
8
21
21
29
26
43
68
30
16
52
11B
99
91
103
89
113
114
50
eu
36
76
7
26
6T4
.... 27
WU 131
12 11
76 76
64 64
137
37
33
70
70
8
21
20
26
43
67
29
86
4
116
34
O
35
69
75
8
21
20
29
26
42
67
43
94
80
73
90
17
35
25
400 121
400 30
400 127 126
42
.93
80
72
90
16
34
24
120 121
29 29
42
93
79
72
89
16
34
23
Davison Chem.. 600
Endicott Johnsn 200
Erie 4.800
do 1st pfd.... 1,100
Elec Stor Bty. . . 400
Famous Players 2,500
Fed Min & Smlt .....
do pfd. . 2
Fisk Tire 2.500
Gen CigarS.... 100
Oen fclec 400 lfifiU. IBS
ijen -iioior 3,800 14 13
45
ao
15
23
42
80
16
its
43
IV
42
79 :
15
76
81 ' 81
67, 65
40 38
15 15
81
30
81
38
80
2!)
78V
'76'
127
44
78
15
23
42
80
11
47
,
166
13
81
65
38
15
28
38
80
29
78
50
43
89
23
105
27
47
128
10 10
47- 47
28 27
27 2 7
81 83
14 15
21 21
Enfpire Gas Fuel 6s........ 1924
Fisk s 1941
Gen Elec deb 5s.. 1952
do 6s 1940
Goodrich 7s 1925
do 8s 1941
Heins 7s 1930
Hershey 7s 1930
111 Steel deb 4 1930
Ind Steel os 1952
Int Agr 5s 1932
Int Marine CT 6s....:. 1941
Kelly Spgfield 8s 1931
Kennecott 7s 1930
Lack Steel 5s '. . . 1923
do 1st 5s 1950
Llbby McN L 7s.... 1931
Lig & Myers 5s litol
do 7 s 1944
Lorillard fis .'. 1951
do 7s 1944
Midvaie 5s 1936
Morrie & Co 7s. 1930
Proc & Gamble 7s 1923
Republic I & St 59 ; 1940
Sears Roe 7s : 1922 .
do 1923
Steel & Tube 7s 1951
Swift & Go 7s 1925
do 1931
Unl Drug 8s 1941
U S Rub 1st ref 5s - 1947
do 7s 1930
U S Steel sf 5s 1963
Va Chem 5s '. 1923
Va Car Chem 7s ......... 1932
West Elec 5s . 1922
West U T col Tr 6s 1938
West Union 6s 1936
Wilson 1st 6s 1941
do cv 6s 1928
West Blec 7s 1925
Westinghouse 7s 1931
Public utilities
Amn Lt & Tran 6s 1925
Amn Tel coll 4s 1929
do 5s , 1946
do 6s 1925
Bell Tel of Pa 7s 1945
B R T 5s 1945 61
200
100
400
200
200
"166
1,300
1,800
200
100
"ioo
2,600
300
500
30
67
45
12
12
30
21
76
20
59
96
'so"
12
"8
44
39
'4E"
14
9
27
40
98
120
63
80
67
45
12
12
30
21
78
20
-58
96
'56"
12
"8
44
.39
'49"
13
8
27
40
98
120
63
30
66
.45
12
12
30
21
76
19
58
96
93
59
12
48
8
44
39
163
49
14
8
27
104
89
64
104
102
94
118
90
104
38
103
104
91
7
106
86
108
107
100
105
106
101 1
114
104
103
90
99
7
. 9
108
104
100
89
99
95
114
94
114
88
105
101
95
100
101
101
101
102
' 110
89
108
103
100
105
100
99
109
87
91
108
106
106
91
97
114
107
French 4s
do 5s
do 5s .........
do 7s
do 8s .".
German W L 5s
Berlin 4s
Hamburg 4s . ...
do 4s
Leipzig 4s ....
do 5s .
Munich 4s
do 5s .........
Frankfort 4s ...
Italian 5s
Jalpan 4s
do 1st 4s ...
do 2d 4s ...
Norway 8s
Russian 5s ...
Swiss 5s
do 8s
Sao Paulo 8s .....
Unit Kingdom 5s
do 5s
do 5s
1957 5414 Mtt
1941 104 104
1945 110 110 '
1917 51 53 ;
1920 74 77
193 1 64 65
1941 100 100 I
1945 103 103 I
.... 2 2
2 2-,
.... ,S 8l
.... 3' 4
.... 3 4
.... i 3 4
3 4
3 4
3 4
1918 38 39
193 1 77
1923 91 92
1923 90 91
1940 109 110
1921 18 20
. 1926 3 4
1919 18 20
1929 1 02 102
1940 118 119
102 102
1922 107 107
. 1929 107 ' 107
1937 103 104
Foreign Exchange. :
Foreign exchange rates at the close of
business yesterday, furnished by the
Northwestern National bank of Port
land. The amount quoted is the equiva
lent of the foreign unit in United States
funds:
Country, foreign unit. Rate.
Austria, kronen $ .000125
Belgium, francs . .080000
Bulgaria, leva '. 008000
Czecho-Slovakia, kronen
Denmark, kroner
England, pound sterling
r inia,na,-unmans .......
France, francs ...
Germany, marks
Greece, drachmas
Holland, ruilders
Hungary, kronen
Italy, lire
Liberty Bond Quotations.
tiwiv hrtnrf and victory bond quota
tions furnished by the Overbeck & Cooke
company of Portland:
upen. men- uvw. v-iuac.
Liberty 3s... 100.12 100.12 100.08 100.00
SS 4ta:::: ::::: :::::
do 1st 4 s.. 100.26 100.32 100.20 100.20
do 2d 4s.. 100.10 100.10 100.04 100.04
do 3d 4s. ..100.10 100.14 100.06 100.06
do 4th 4s.. 100.18 100.24 100.16 100.18
Victory 3s ..100.54 100.56 100.52 100.02
Money, Silver, Etc.
NEW YORK, June 26. Call money.
strong; high, 5 per cent; low, t per
cent; ruling rate, 4 per cent; closing bid,
5 per cent; offered at 6 per cent; last
loan, 0 per cent; can loans against, ac
ceptances, 3 per cent.
Time loans, firmer: 80 days, 4 per cent;
90 days, 4 per cent; six months, 4 per
cent.
Prime mercantile paper, 4ffl4 per
cent.
Foreign bar silver, i0c.
Mexican dollars, 53c "
Swift Co. Stocks.
Closing prices of Swift & Co. stocks
beck & Cooke company of Portland as
follows:
Swift & Co....- 100
National Leather s . ... 2
do new ... 8
Swift International 19
Libty, McNeil . & Llbby 2
. , .
New York Bonds.
Furnished by Jordan & Wentworth
company of Portland:
flauroaa lionas
Atch gen 4s
A U 1j 4S
do is
B ,0 gold 4s
do con 4s cv ......
Cal Gas unl 5s 1937 94
Cities Service 7s B 1!)8 14U
City Service 7s C 1968 98
do 7s D , 1968 91
Con Gas cv 7s 1925 116
Int Met 4s 1956 12
Int R T ref f5s 1966 67
Mont Power 5s A 1B43 96
Northwest Tel 7s 1941 106
Pac Tel 5s 1937 97
Pac Gas 5s 1942 90
Souwest Tel 7s 1925 102
Oil bonds
Anglo Amn 7s 1925 103
Atlantic Ref 6s 1931 103
Galena S Oil 7s 1930 103
Gulf Oil 7s 1933 103
Humble 7s 1623 101
Pan Amn 7s 1930 102
Mex Pet cv 8s- 1936 108
Sinclair 7 .- 1925 104
S O Cal 7s 1931 105
S O N T 7s 1931 108
Texas Co 7s 1923 101
Tidewater Oil 6a 1931 103
Vacuum Oil 7s 1936 107
Foreign Government Bonds
Argentine 2d 7s 1923 99
do u 1 as io si.
Belgium 8s 1940 106
Bergen 8s . . .- 1945 109
Berne BS
Christiana 8s
1945
1945
Copenhagen 5s 1944
Danish uonsol ss l4
French Cities 6s 1934
Italy 6s A 1925
kus Ruble os lllB
Swedish Govt 6s 1939
U S Mex 4s 1934
do ext 5s 1943
Uruguay Ext 5s
Zurich 8s 1943
curb bonds
Allied Packers 6s
Am Tel & Tel 6s
Am Tel & Tel ' 6s ......
Anaconda Copper 6s . . . .
do 7s
Anglo-Am Oil 7s .0..
Armour & Co. 7s
Beth Steel 7s
Copper Ex Assn 8s
Copper Ex Assn 8s
Grand Trunk 6s
Humble Oil 7s
Inter Rapid Tran 7s...
Libby McN & Lib 7s. . ,
So West Tel 7s
Stand Oil N T 6s
do 7s
Swift & Co. 7s . ,
Swift & Co. 7s : . ,
Texas Co 7s Notes 4 . .
1922
1924
1035
1924
1925
1933
1926
1925
1931
111
108
1
110
83
95
3
101
. 47
60
72
111
82
100
101
100
102
103
104
102
JOZH
104
105
lni
96
98
103
107
303
101
102
101
Canada Southern 5s
Foreign Bonds.
Furnished by tho Overbeck &t Cooke
company of Portland:
Bond . . Maturity. Bid. Asked.
Belgian rest 5s 70 73
do nrem 5s 76 79
do 7s 1945 108 108
do 6s 1925 102 102
British Be 1922 90 " 92
do 5s 1927 92 94
do 5s 1929 93 95
do vky 4s 77 ('.!
do ref 4s 75 77
Bordeaux 6s 1934 84 84
Canadian 6s 1937 98 S)i)
do 5s 1928 95 99
do 5s 1931 100 101
do 5s 1931 100 , 101
flo 5s . .1927 98 99
.019500
. .21 2300
4.421250
.022000
.083800
.003200
.033200
.382000
.001500
047000
Jugo-Slavia, kronen 00ST!)S
Norway, kroner .163000
Portugal, escudos 080000
Rouma-nia, lei 067!!0
Serbia, dlnara Si4.7,0"
Spain, pesetas .156000
Sweden, kroner - .256000
Switzerland, francs .190000
China'Hongkong. local currency .577n00
Shane-haL taels - 800000
Japan, yen 485000
NEW YORK. June 26 Foreign ex
change, 'firm. Great Britain, demand
$4.41, 'cables $4.41. 60-day bills on
banks $4.39. France, demand. 8.41.
cables 8.42. Italy, demand. 4.73. cables
4.73. Belgium, demand 7.99, cables
8.00. Germany, demand 28, cables 28.
Holland, demand 38.23, cables 38.28.
Norway, demand 16.15. Sweden, demand
25.55 Denmark, demand, 21.23. Switzer.
land, demand 18.95. Spain, demasd 15.53,
Greece, demand 3.27. Czecho-Slovakia,
demand 1.92. Argentine, demand 35.7o.
Rm an rtem&no is. io. ivionireai. ?toi
Closing rates:. Great Britain, demand
$4.40, cables, $4.41, 60-day bills on
banks. $4.38. France, demand 8.32, ca
bles 8.32. Belgium, demand 7.90, ca
bles, 7.90.
' Boston Mining Stocks.
Boston mining stock quotations fur
nished by Overbeck & Cooke company of
Portland.
Ariz Comm 9 9
Adventure o la
ilmi ...20 50
Allouez 25 26 '
Arcadian 3
New Corn 18 18
Copper Range 43 43
navls uaiy . ijs o
East Butte 10 10
Hancock 2 3
Helvetia J 1
Tatonri rAlr - .110 ....
Keewanaw 2
Kerr Lake 3
Lake Copper 4
La Salle 1
Mason Valley
North Lake 30
Old Dom Cop 24
Qulncy Mining ,.42
Pond Creek 1.23
Isle Royal ......23
Supp Boston i y
Union Shoe Mach
do pfd
Shattuek
Trinity Copper . . .
Tuolumne
Utah Metals
Utah Con
17. S. Mining
Victoria ,
Winona . . .
Wolverine . . . . .
Wyandott
...38
25
.... 9
.... 1
60
...1 1-16
.... 2
40
.... 1
.... 1
....11
50
2
4
5
1
3
81
25
44
23
24
1
39
26
11
1
70
1
2
41
2
1
12
75
STEEL DEMAND IS STRONGER
Industry Slated to Show Gain for Next
Twelve Months.
(Copyright by the Public Ledger Com
pany. Published by Arrangement.)
' WASHINGTON, D. C, June 26.
(Special.) Demand for steel is gradu
ally increasing throughout the United
States and the entire world, according
to reports to the department of com
merce. The demand will continue to
grow during the next 12 months, officials
believe, and that a steel boom greater
than any in history may develop by the
end of 1922 is regarded as a possibility.
- The industry in this country stands
second in the amount of business re
ceived in proportion to 1913, according
to a comparison instituted by the de
partment of commerce and based on re
ports dealing with business of the four
principal producing countries at the
opening of 1922.
Cent Pac 1st 4s
hes & Ohio cv
do gen 4s .
do con 5s
C B & Q 111 div 4s
C & West Ind 4s ..
C G & W 4s
C M & St P 4s
do cv 4s
do gen 4s A
do cv 5s
Chgo N W sf 5s ...
oo 63
do 7s
C R I & P ref 4s
Colo Sou rf ex 4s. .
do 4s
Del & Hudson cv 5s .
Del & Hudson 7s .
D & R G cv 4s
do ref 5s
Erie P L 4s
do B
Erie Pa CG 4s
-Gd Trunk eq 6s
do 7s
Gt Trunk 6s
111 Cent it 5s
do ref 4s
K C Sou ref 5s
Keo & Des M 1st 6s ....
L S & M S 4s
L & N 7s
L & N unl 4s
MStPtSSM 68.1..
do ref 5s
NYC deb 4a . . .
do con 4s
do cv deb 6s
do coll 7s
N Y N H & H cv I
78
19
Gen Motor 6.. 5,700
Gen Asphalt laiftn
Goodrich 1,500
Glidden Paint... 800
Granby -
Giat Nor Ore.. 600
do pfd. 4,800
Greene Cananea. 800
Gulf S Steel.... 2,000
Glen AHen .v.,
Houston Oil.... 500
Hupp Motor. . .v
Ills Cent 4ftn .insu m,
Inspiration 700 40 40 u 401s
Int Agr Corp cm 300 10 10 io2
do pfd ... oa?
Interboro lrto l- 3 'aii 2
Tnt,r,t rgllaT.B Oftrt " oT 7?
Int Harv -
Int Merc Marine 1,400
do pfd... 200
Int Nickel - soo
Int Paper 500
do pfd
Invincible OH... 1.500
Island Oil 8,300
jewel lea
700
200
8.400
1.0O0
1.000
2O0
500
2,700
19
73
16
48
16
1
8
j
73
16
48
25
57
49
34
16
73
30
eo
K C Southern
do pfd ....
Kelly-Spgfld
Kannecott . . .
Keystone Tire
Lack steel
Lee Tire
Lehigh Valley...
Lorillard 100 152
Loew Theaters. . 200 1 5
L & N 1.900 121 118 12014
Maxwell Mot A.. 1.000 . 67 66 KV.
do B 4,200 24 23 23
May Stores 500 117 116 117
Mex Pet 83,100 204 184 195
Miami -. 100 . 28 28 28
Mid 8tates Oil.1..' 4,500 14 13 13
Midvaie Steel , 200 33 33 83
If K T Wl 200 17 - 17 17
. do Bid WL, COO U K
57
48
33
29
64
152
14
8
100
19
73
16
46
85
15
17
24
57
48
34.
. 16
78
80
64
152
14
Nor Pac P L 4s
do 6s ......
N P-Gt Nor Joint 61j
O S L ref 4s
Pennsylvania 6,s ..
do gen 4s-
do 4s -
do 7s .; .
do 6s
Reading gen 4s ....
S A L 4s
do 5s
do 6s A
Southern Ry con 5s.
Southern Pac cv 4s.
do Si F term 4s. . .
St L & a F P L 4s A.
do 6s B
do gen 5s
do gen 6s
do inc 6s
St L & S W 1st 5s
do con 4s 1
do 1st 4s
Texas-Pac 1st 5s
Union Pacific 1st 4s. .
do ref 4s
do 6s
Wabash 1st 5s
do 2d 5s
Western Pacific 5s
Industrials
Allied Packers
Amn Agr Ch 7s. .
Amn Tob 7s
Anaconda 6s A
dosB
1995 90
1952 89
1930 106
1948 80
1033 82
1995 86
1962 98
1940 111
1940 111
11149 88
1930 88
1992 87
1946 93
1939 101
1949 91
1952 72
1959 60
1925 78
1932 68
1934 61
1899 75
2014 73
1929 98
1936 110
1030 107
1934 81
1935 87
1929 93
1935 95
1930 109
1936 77
1955 48
1996 63
1953 51
1953 51
1951 89
. 1936 105
1901 90
. 1936 109
1936 102
1940 112
, 1963 95
. 1955 87
. 1950 87
, 1923 90
. 1931 92
, 1930 108
. 1940 91
. 1946 101,
. 1990 79
, 1975 63
. 1923 99
. 1926 95
. 1934 90
. 1998 98
. 1935 103
. 1930 105
. 1948 79
. 1935 70
. 1997 87
. 2047 106
. 1936 105
. 1929 91
. 1936 108
. 1965 91
. 1968 100
. 1930 108'
.. .936 108
. 1997 83
. 1950 57
. 1949 25
. 1945 59
. 1894 85
.. 1929 91
. 1950 82
. 1949 88
. 1034 101
.,1850 71
. I960 84 '
. 1931 98
. 1931 103
. 1956 78
. 1960 68
. 1952 79
. 1032 74
. 1989 78
. STO0O 85
.'1947 93
. 1027 94
. 2008 ' 86
. 1828 104
. 1930 102
. 1939 97
. 1939 85
. 196 87
. 1939 ' 83
. 1841 103
. 1947 92
. 1923 102
. 1929 100
92903
Keep a "live" record
of your investments
Freeman, Smith a Camp Co.
, aoat.
. rnEEMn, a,
Ihr. J.K.Gill Cnmpan First-Mci4-,0
L I ion ' J M l W -ri,.
L&rUSHFUun,
hT-1-
IOUr!TOF 03010 TO
AHOnMT 80UC HI
JOW.
ZSoo
lSoo
I. oca
loo.
IQI y.oa
1QI 7f
70O
000
Freeman, Smith & Camp Co.
' hICOM ton StK!.AHItdNL HeMTIft M Jl.fl 9
0 MAHC8 OF 1QWM URt N, MOVKI DUt OKI UOM1M
f00 PlX-J-lrtil Impnw. J qq. J LS OO
tOCO frextn r.njnl. " Jlfa-mo Mtl. IOO QO r OO QQ
I.00O... KlnjJrm n( - 7g f 7 In
j.Q0O- orlnr,. HrTti.il, C.nlukn ' L I (fin (X?
USS. timkJ n..j r. t is x oo if tin oo
JLSSS. YaKimi rou.jj, M.I-hh-HcxiA Ic i jo oo i jo oo
jiflC2 Warmr Mjr Fr.flKlnj C . 7 IDS OO O.T OO
M AinmrJa Fnrmx C.n Fjt flortyey. L I ioO 00 I iO OO
HOTEL HOYT
Newly furnished and remodeled.
Strictly Fireproof. Near both depots
and convenient car service to
all parts of city.
Moderate Rates. :
' O. H. EDWARDS, Manager.
This convenient
investment record
keeps all information of your investment
' holdings in simple yet complete, form. It
saves trips to your afe deposit box.
It quickly furnishes accurate , up-to-the-minute
information on amounts-bought or
sold, interest dates, prices, taxable status,
income and profits and maturity dates.
The loose leaf form enables pages la ...
' .. . be added or discarded at Till. The
record is pocket size and flexible.
. - .
Invaluable for keeping Income Tax Data readily available.
; We ivill gladly furnish you a cop) whether you are
a client of this house or not. Call for your copy.
Freeman, Smith a Camp Co.
TJnlon Oil Bldg.
LOS ANGELES
8248 65 ' Pico 5388
Syndicate Building
OAKLAND
Lakeside 720
First Natl Bank Bids.
BAN FRANCISCO.
Douglas 2121 ,
Lumbermens BldgM
PORTLAND, OREGON.
Broadway 6540
NEW ISSUE
$5,000,000
Los Angeles Gas and Electric Corporation
General and Refunding Mortgage 5y2 Gold Bonds
Series "E"
Dated June 1, 1922
Noncallable for 10 Years
Due June 1, 1947
Coupon bonds of $1000 and $500 denominations with privilege of registration as to principal. Noncallable before
June 1, 193z, and then only upon 90 days notice at 107Jz and accrued interest; less Vi each year thereafter.
Interest payable on June 1 and December 1. in New York, San Francisco and Los Angeles. The Company agrees to
pay interest without deduction for any Normal Federal Income Tax up to 4 which it may lawfuly pay at the source.
Mercantile Trust Company, San Francisco
Security Trust and Savings Bank, Los Angeles
Trustees
EXEMPT FROM PERSONAL PROPERTY TAX IN CALIFORNIA
Application has been filed with the Superintendent of Banki to cer
' tiiy these bonds aa leffol Investment for California Savings Banks
CAPITALIZATION
Aa of June 1, 1922
(After giving effect to present financing)
Capital Stock Authorized
Preferred 6 Cumulative $ 1 0.000,000
. Common ' - 20.000,000
Outstanding -
$ 3.847.800
10.000.000
,.....$ 2.500,000
, 3.500.000
, 1.500.000
1.937.500
5.000.000
8,476.500
Bonded Debt (in hands of public
General and Refunding Bonds Series "A" , ,
Series B
Series "C"
' Series "D"
Series "E" (this issue)
Underlying Bonds (closed mortgage)
Total Mortgage Bonds $22.9 1 4.000
Of the $7,000,000 authorized by the Railroad Commission for Issuance, $5,462,500 (par value) has
been eold to June 1, 1922, out of which $3,847,800 was fully paid for and issued.
CONSUMERS
As of December 31 ; 1900 J 331
As of December 31.1910
As of December 31. 1920 216.550
As of December 31, 192! 246,955
Asof June 1. 1922. 263.191
Population of territory served estimated over 940,000
Gross Earnings
EARNINGS STATEMENT
(For the year ending April 30, 1922)
Operating Expenses and Taxes. . .
Net Earnings ......
Bond Interest
. $11,077,040.43
. . 7.876.798.27
.$ 3,200,242.16
871.694.13
.$ 2,328,548.03'
' Balance for Depreciation, Dividends and Surplus .........
Interest requirements for a full year on all bonds in hands of public, including this issue 1,360.075.00
(Above net earnings equivalent to more than 2.35 times interest requirements)
This issue is secured under the General Mortgage by property which, including the
additions provided for by this financing, together with the proceeds from the above
mentioned authorized issue of $7,000,000 preferred stock, is conservatively valued
at over $45,000,000, or more than 1.96 times the Corporation's total funded debt,
including this issue.
'i All proceedings Incident to the issuance of these bonds are under the supervision of Mr. Paul Overton and are
subject to the approval of Messrs. Heller, Ehrman, White and McAuliffe, San Francisco.
Bonds are offered If, as and when Issued and received by us, subject to authorization of Issue by the Railroad
Commission of the State of California. .
We recommend these bonds for investment
Price 962 and Interest
Bond & Goodwin & Tucker Mercantile Securities Company
Incorporated (Affiliated with Mercantile Trust ComnanTk
Incorporated
San Francisco Los Angeles Seattle Portland
(Affiliated with Mercantile Trant Company)
San Francisco Berkeley
All statements made herein are derived from official sources, and, while aot guaranteed, are believed by us to be correct.
We maintain a
department specializing in
U.S.
Certificates of
Indebtedness and
Gold Notes
Our facilities provide a '
service that is extensively
used by banks, corpora
tions and investors who
have inactive funds
which they wish to keep
at interest, yet instantly
r convertible into cash.
We buy, sell, and quote all
issues in any amounts
Wirt or write for bids
or quotations s (
halsey;
STUART
&, CO.
MOORrOMTSS
209 South La SaHa'St, Chicago
CHICAGO NEW YORK BOSTON
DETROIT MILWAUKEE ST. LOUIS
PHILADELPHIA MINNEAPOLIS
Reserve Bonds
Now for
July Investment
Yields rj.43Qfo
Lane County, Or., 5s
Due 1952
Yield to 4.70
Kingdom of Norway 6s
Due 1931
Yield 5.25 to .7.43
Dominion of Canada 5s
Due 1952. ' Yield 5
Burton Ranches 7Vi&
Due 1937. Yield 7.40
Snake River Irrig. Dist.
6 Bonds. Due 1937-38
Yield 6.25 -
Bring your bond in
terest coupons to us
for collection. We
make no charges
$15,000
Tillamook Comity, Oregon
School District No. 22
Refunding Bonds
Due Serially
Without Option
1927 to 1941
Send for descriptive circular.
ATKINSON-ZILKA & COMPANY
INVESTMENT BONDS
418 N. W. National Bank Phone Main 700
UMBERMENS
j Broadway and Oak
CORPORATIONS:
DO YOU NEED
MONEY?
Are you haIns iit difficulty to
maintain prodnotion under the pres
ent abnormal credit conditions? Are
you desirous of having available
funds In your hands to meet pres
ent and future business needs? We
can help you raise those funds. Our
thoroughly equipped and highly de
veloped organization is at your dis
posal. Your strictest investigation
is invited and all correspondence
from you held In confidence.
Box No- AV 69, OregonJan.
6.10
For nearly twenty years
Portland Ey, Light
and Power Co., First '
and Refunding
Mortgage 6 Sink
ing Fund Gold Bonds,
due Feb. 1, 1942.
Complete Information
upon request.
The National City
Company
Offices in mora than BO cities.
Yeon Bidg., Portland, Ores-os.
Telephone Main 6072.
Back to
the Ancients
What traveler would go back
to the old sprlngless farm wagon?
Yet some are thoughtless enough
to bo carried away with plausible
argument In favor of rigidity In
pavements. Travel without resili
ency or a cushion effect above,
in the tires and below, In the
pavement not only shakes and
jars the vehicle, but shatters the
pavement. Warrenite - Bitulithic
pavement is a-"cushion."
. JORDAN, WENTWORTH & CO.
SuccesBors to
HERRTN & RHODES, IXC.
STOCKS, BONDS,
COTTON, GRAIN
Correspondents B. F. Hattoa st CCX.
NEW YORK.
Members All Leading Exchanges.
Babson's Service on File,
Bdwy. 4726. 201 Railway Exchange Bids.
The Oregonlan publishes practically-
an of the want ads printed in
the other three Portland papero. In
addition to thousands of exclusive
advertisements not printed In any
othet local c&fier. ,
sags