Morning Oregonian. (Portland, Or.) 1861-1937, July 18, 1922, Image 21

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Morning Oregonian., July 18, 1922, Page 21, Image 21

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Newspaper Page TextTHE MORNING OREGONIAN, TUESDAY, JULY 18, 1922 31 M YORK MARKET if ultra i Encouragement Is Seen in Dull Day. OFFERINGS ARE SCARCE Trading on Small Proportions Except Around Midday as , Professionals Grow Active. BT MOaTITOR. bualnaaa operation will be Impeded by toe rail strike la UH an open QQeKHUk The pinch will begin to come, it la be lieved, early in the coming' week. One feature that complicates the situation Is the low stock of coal and crude. materials In the hands of manufacturers. This necessitates frequent shipments, some times from a considerable distance. De layed deliveries will mean a slowing down in employment, and otherwise may result in a severe shock to our rising prosperity. Already railroads are re fusing shipments urgently needed by In dustrial plants. That this state of af fairs may result in shutdowns la an ominous probability. . ' Ifew Tork Bonds. Furnished by Jordan. & 'Wentworth company of Portland. Railroad bonds . Atch gen 4s 1995 A C L 7s ... 1930 B O gold 4s , 1948 do con 4s cv 1933 do ref 5s , 1995 Canada Southern 5s 1962 Canadian Nor 6s 1948 do 7s . . . , 1940 Cent Pac 1st 4s 1948 Ches & Ohio cv 4s 1830 do gen 4&s 1982 do cv 5s 1946 (Copyright. 1922, by the Public Ledger company. ruhllshea by Arrangement) NEW TORK, July 17. (Special.) It Is seldom that a dull market affords much basis fop- encouragement, but there la little doubt that today's performance was hopefully regarded. The very fact u an acuve selling movement was not precipitated by the serious aspects of the coal strike and the growing pro portions of the walk-out among the railway employes was construed as 01080108 either a strong technical posi tion, or a belief that a more or less sat isfactory adjustment might be expected. Along -with the activity was a general nndertone of steadiness and a scarcity of offerings. The turnover for the day was lesa than half a million1 shares. . . Trading was of small proportions ex cept around midday wben professionals became active in the steels and equip ments along .with a few specialties, and brought about some sharp gains, with Baldwin reaching a new high leveL Profit taking reduced the advances or canceled them entirely before the close. About the only trading features con- i slsted of well maintained strength in a few specTTTtles, such as National Enameling & Stamping, Public Service Corporation of New Jersey, Railway Steel Springs, International Harvester and some of the Public Utility issues. , The strong statistical and industrial po sition of copper has created an under lying bullish sentiment on these Issues, but while steadiness was the rule in this group, no aggressive buying made Its appearance. The ease and abundance of money continues to furnish the background for optimiem. The labor outlook is grave, and it is felt that any settlement made is lilcely to be dictated more by expe diency than by consideration for sound economic principle. In an emergency, however, it is not always possible to con sider fundamentals; it is considered pos sible that any agreement may confront the country with the prospect of high fuel and transportation costs, and that while a temporary crisis may be averted, the ultimate result may be another pe riod of inflation due to upward wage revisions and rising production costs. In other words, it is felt here that we may be forced to buy industrial peace at the cost of more inflation, which will put the country at a disadvantage when it comes to competing in overseas markets. The arrival of $2,500,000 gold on the Adriatic for J. P. Morgan & Co. makes a total of $10,000,000 for the past two weeks., it is the general belief that these shipments are to apply on the Brit payments on their war debts. The first payment, amounting to 1125,000,000 in all. Is due October 1. The first quarter consolidated reports of the Superior Oil and the Old Domin ion Transportation company show a deficit after depreciation and deflation of $220,553. This compares with a deficit of but $50,090 for the quarter a year ago. The general improvement in agricul ture is reflected In much better business for international Harvester machines. This company is one of the strongest manufacturing concerns in the world, with a large working capital and much of the recent accumulation of the stock can be traced to the expectation of even larger business when the fall crop move--! ment gets under way m earnesij ' It Is learned that Plerce-Arrow has nniier wav an intensive house-cleaning programme calculated to correct the present top-heavy plant conditions. De spite the tremendous demand for motor .ftr ' of all orices and makes. Pierce- Arrow is one of the very few companies who are not working at capacity.- The recent sharp cut in the selling price of the Pierce-Arrow is the first step in an Aeeresive drive for sales, as the main rtrawhiir.k of the company so far has Henri th heavy overhead due to the fact that production facilities were equipped to handle more than the current rate of demand. At present the company Is Im proving Its financial position and is mak ing steady lnroaas into its oana iuam do con 6s 1938 C B & Q 111 div 4s 1949 C & West Ind 4s ........... 1852 C G ft W 4 1959 C M & St P 4a 1925 do cv 4s 1932 do deb 4s .-. 1934 do cv 5s . .. 2014 do g ft r 4s A 2014 Chgo & N W gen 4s 1987 do 614s 1938 do 7s 1830 C R I & P ref 4s 1934 Colo Sou ref ex 4s 1835 do 4s 1929 Del & Hudson cv 5s 1835- do 7s 1830 & R G cv 4s 1936 do ref 6s ............... 1955 Erie F L 4g ............... 1998 do con 4s A 1953 B , 1953 do D 195.1 Brie Pa C O 4s 1051 Gd Trunk eq 6&a ...1938 lit JNor 4ftS do 7S 1936 Gt Trunk 6s 1936 do 7s 1940 111 Cent jt 6s 1963 ao rex 4s ll.r3 K C Sou ref 5s 1950 Keo & Des M 1st 8s 1923 5 & M S 4s 1931 6 N 7s 1030 do uni 4s 1840 M, St P & S S M 614s 1948 M K & T 4s 1880 M P gen 4s 1975 do ref 5s 1923 do ref 5s 1826 T O deb 4s 1934 do con 4g 1988 do ref Imp 4s 2013 do cv deb 6s 1935 do coll 7s 1930 T. N H ft H cv 6s 1948 b T5X ft Mex 6s 1935 P P L 4s 1897 P 6s 2047 P, G N Joint 614s 1936 S I ref 4s 1829 Penna 6a 1938 Penna gea 4V4s 1065 do 4MjS 186U do gen 5s 1988 do 7s 19S0 do R R 6i4s 1936 Reading gen 4a 1997 A ! 43 19011 A L 5s 1849 S A Ij 6s A 1945 Sou Ry con 5s 1994 f CV 48 lNW do ref 4s 1955 do sf term 4s 19;0 do conv 5s 1934 St.I&SPPL,4s A. 1850 do gen os I9.u do 5s B 1850 do gen 6s 1831 da adj 6s iua Col nc Os 1960 St D ft S W 1st 5s 1802 do con 4s fin 1st 4a 19S9 Tex Pac 1st 5a 2000 Columbia ' Gas & Electric for June ahowed gross earnings of $1,298,154, an incn-aiiA nf S239.636 over the same month a year a(fo. Net earnings available for fWArl rtharees amounted to $808,213 rain of $124,398. Net after all charges was $332,501, a gain of $74,806. 1 Eastern Crude Oil prices have followed he lead of the west and fennsyivama. Cabel and Somerset grades have been reduced 25 cents per barrel. This movement "was immediately followed by the Magnolia Petroleum company and the Texas company In Oklahoma, while the Prairie Oil & Gas Co. and Sinclair Crude Oil Producing company reduced the same amount for north and north central Texas. Pressure against the oil stocks today was based upon the -further decline n crude oil nrices. It was generally as sumed that these cuts are being made to encourage curtailment of production, which at present exceeds refining facill ties. On this line of reasoning the mar ket expects more cuts in crude prices possibly in gasoline prices unless the lower prices already named should achieve the -desired results. , ... Leading copper stocks are taken In hand with buying based upon the con tinuation of the very heavy demand for the metal. June shipments broke all monthly records for peace time. Total shipments for the month will exceed liO, 000,000 pounds, and will compare with iou,uov,wu Tounds in May and an average of 126,000 pounds per month for the first quarter. June business was not quite so top-heavy as would appear from tne -Dare- figures, as much or the forward movement included metal which was actually bought during the preceding month or two. It is believed that the only thing which can keep July shipments Irom running very close to the June to tal was transportation restriction result of the rail strike. So far this has hardly been an Independent item. Much of the pessimism with which the European financial situation was garded at the close of last week has abated. Germany has met her July reparation payments and Indications are hopeful that the appeal for a morato rium, presumably for two years, will be given serious consideration. The contin ued flood of paper marks issued from the German printing presses of course complicates the situation. This unsoun fiscal policy makes a lenient attitude on the entente nations ail the more diffi cult. . Reports that Great Britain will take ateps to liquidate the British debt to this country puts the European financial sit uation on a new basis. The Downing street attitude all along has been based on the theory that the adjustment of oDllgatlons to the United States and be twecn the allies themselves must take priority over any revision of reparations terms. The formal announcement that Great Britain had decided to pay her debt to this country, therefore, cleara the way for concrete action on the 'whole European financial situationr-... There is good basis for the feeling in financial circles here that our domestic outlook would bs brilliant If it were not for the disturbed labor situation and the almost incomprehensible blundering by congress. American enterprise is doing its best to forge ahead in the face of most discouraging obstacles. Despite the coal strike and other laoor disturb ances, industrial outputs in many lines show surprising gains. Building con tracts for the northeastern states durln June amounted to $343,000,000, an exhibit surpassed only by the record figures of - April and May and registering ait in crease of 22 per cent over June last year. The satisfactory crop outlook is finding its reflection in increased inquiries for merchandise and collections are good. . . . Baa extent to which Industrial and 1947 1927 200S 1928 1030 1039 1939 1946 U P 1st 4s do cv 4s do ref 4s do 6s Union Tank 7s Waljash 1st 5s do 2d 5s West Pac 5s .. Industrials Allied Packers' 6s 1939 Am Agr Chem 714 s 1941 Am Sm 1st 5s 1M7 Am Tobacco 7s 1923 Anaconda 6s A ..1929 do 7s B , Armour cv 7s 1930 Armour 4V4s -. 1939 Beaver Board 8s 1933 Beth Steel 7s 1923 do eq 7s ism;i do ref 5s ...1942 Cerro de Pasco 8s 1931 Chile conv 6s A . ... iv& do conv 7e -ly-a . Col. Graph Ss- ........ 1925 .. Copper Exp 8s ........... . 1923 , do es io-t do 8s 125 Colo F & I gen 6s 1813 Colo Ind 5s 1934 Cuban Xmn Sugar 8s 1931 Cuban Cane cv is ......... ladt) Distillers Sec cv 5s 192T Diam Match Tiss Wia Dupont T ....... 1831 Empire Gas Fuel 6s 1924 Fisk 8s ' 1W1 Gen Elec deb 6s 1952 do deb 6s 14U Goodrich 7s 192o Goodyear 8s nm Heinz 7s 1930 Hershey 7s 1930 111 Steer deb 4B Ju Ind Steel 5s . .- 1952 Int Agr 5s 1932 Int Mar Ctfs 6s 1941 Kelly Spgfleld 8s 1931 Kennecott 7s 1930 Lack -Steel 6s 1923 do 1st 5s liu Ubby. McN & I 7s 1931 Liggett & Myers 5s ... 1951 do 7s Dorlllard Ba 1951 do 7s 19 Midvale5s 1939 Proc & Gamble 7s iv-a Republic I & St 6s . .- 1940 sears Koe is i- Sears Roe 7s 1923 Steel ft Tube 7s 1931 Swift & Co 7s do 7s United Drug 8s 1941 U S Rub 1st ret as ism do TAs 193" U 8 Steel sf 6s 1963 Va Chem 5s ... iva va Car Chem 74s 1932 West Electric 5s 1922 West V T col Tr 5s.. 1938 West Union 6s - lso Wilson lstSs 1941 do cv 6s -. !"- West Elec 7s 1825 Westinghouse 7s i. laal fubllc utilities Am Lt ft Tran 6s. . Am Tel coll 4s do coll as do 6s Bell Tel of Pa 7s.. B R T 5s Cal Gas uni 5s 1937 Cities Service 7s B 1937 do 7s B .... do 7s C ; do 7s D . Con. Gas cv 7s .... Int Met 4s Int R T ref 6s .... Laclede Gas 7s . . . Mont Power 5s A . Northwest Tel 7s . Pac Tel 5s Pac Gas 6s Southwest Tel 7s , Oil bonds Anglo Am 7Hs ... Atlantic Ref 6s , Galena S Oil 7s . . Gulf Oil 7s . . Humble 7s Pan Am 7s Mex Pet cv Ss ... Sinclair 7s .... S O California 7s S O New Tork 7s Texas Co 7s Tidewater Oil 6As Vacuum Oil 94 107 84 84 87 94 98 110 113 90 88 87 94 101 I 82 1 75 60 80 68 62 74 63 V, 87 110 107 81 8814 93 98 110 78 48 65 53 . 03 67 89 105 83 110 102 113 99 89. 89 89 , 93 107 93 102 81 63 100 96 91 86 86 105 105 81 70 7. 90 107 103 92 108 94 98 102 109 109 87 58 27 60 96 9t , 90 83 101 72 98 85 103 78 70 81 78 78 93 96 85 89 103 103 88 88 80 BIG RECEIPTS AT YARDS OYEK-STJPPL'Jr OF HALF-FAT CATTLE OX HAND. Market Depressed by Poor Offer ings Lamb Trade Condi- -tions Are Same. There was a liberal run of stock at the yards, 133 loads arriving over Sun day. Five loads of cattle and hogs went through. The market was active throughout the day. In the cattle division very little choice stock was available and as the offerings were mostly half fat and thin this had a depressing effect on the market, steers averaging a quarter lower throughout the list with $8.25 as the top. Only one load brought this price. Cows were un changed. J. A. Wilson of Waterman, Or., brought In a bunch of fancy cows which commanded a premium, but other wise last week'e prices prevailed. Calves were 80 centa lower. Hogs sold generally within the pre vious range, of quotations. . The Bheep and, lamb market was a slow and dragging affair. Most of the lambs offered were valley stock andof poor grade. The undertone of the mar ket was weak. Receipts were 2673 cattle, S78 calves, 1792 hogs-and 3318 sheep. The day's salea were as follows: Wt. Price.l 11 steers. 1126 $ 6.25 990 6.251 114S 685 818 903 886 760 981 1145 1171 1172 926 890 4 steers. 11 steers. 2 steers. 7 steers. 6 steers. S steers. 19 steers. 1150 21 steers. 1041 2 steers. 7 steers. 18 steers. 23 steers. 5 steers. 6 steers. 2 steers. 10 steers. J118 11 steers. 1331 18 steers. 1S40 52 steers. 1100 29 steers. 1111 2 steers. ,1095 28 steers. 941 8 steers. 826 23 steers. 956 4 steers, lofio 28 steers. 965 4 steers. 915 22 steers. 1051 7 steers. 1095 14 steers. 1135 6 steers. 1088 7 steers. 1022 19 steers. 1026 5 steers. 1050 21 steers. 1134 5 steers. 984 2 steers. 1095 3 steers. 856 3 steers. 780 7 steers. 801 20 steers. 29 steers. 1 8 steers. 17 steers. 8 steers. 20 steers. 8 steers. 26 steers. 7 steers. 1140 12 steers. 1139 17 steers. 1015 28 steers. 1095 20 steers. 10S7 8 steers. 1136 6 steers. 1156 53 steers. 947 28 steers. 1131 2 steers. 1230 1 cow. .. 750 23 cows.. 1025 7.00 5.251 5.25 6.00 6.00 6.25 6.25 5.251 7.00 1 calves. 2 calves. 8 calves. 2 bulls.. 1 bull. .. 3 bulls. . 1 bull. .. 2 bulls. . lbull... 1 bull. .. 1 bull... T'25il9 mixed. 2-S2i 9 mixed. 1060 5-5? 1 hog... 300 5-22 10 hogs.. 394 ' 4 hogs.. j 7 hogs.. e'oi,i5;-- - onl50 nogs. . l:20 hogs.. 5-i. 2 hogs. . g-H lhog... 2!!!! 4 hogs.. 5oi"5E-- Wt. Price. 198$ 8.50 195 9.00 136. 1435 1380 1300 1770 1295 500 1130 1770 745 755 312 227 300 150 194 810 6.851 6.50! 7.501 6.50! 7.25! 6.2.1!.: 5.50! 7.00L 6 hogs. . 3 hogs.. 2 hogs. . 8 hogs. . lhog. .. 5 hogs. - 52 hogs. . 1 5 hogs. . 81 999 881 1167 1081 893 800 1135 14 cows.. 984 3.50!' 3 cows.. 1150 6.251 1925 1829 1946 1823 1945 1945 1966 1966 1966 1925 1956 1966 1930 1943 1941 1937 1942 1925 1925 1831 1930 1833 1923 1830 1836 1925 1931 1931 1823 1831 1936 Foreign government bonds 83 104 92 102 101 103 104 - 80 78 104 102 86 118 91 105 .39 101 102 104 80 78 105 85 45 107 107 100 107 100 106 103 116 104 103 81 100 78 9 108 104 100 89 99 98 . 115 96 113 89 101 93 101 105 100 102 103 111 ' 90 108 102 99 105 100 97 110 99 92 108 108 106 91 98 114 108 61 98 95 130 92 90 123 11 67 100 , 07 107 96 90 102 103 103 104 104 100 100 106 104 106 109 101, 103 107 2 cows. 1 cow. .. 970 1020' 27 cows.. 1054 i - 52 hogs. hogs.. 'llhols" 5 001 a holl" 5.501 5!-- ?S?fhoI!:: Jr" 1 hog... ""23hogs.. 1 hog.... felSSSS:: Iffnog3:: 2 8 hogs.. 6 hogs.. 1- 5: 6 hogs., i 40 hogs.. 21-hogs.. 2- 7 hogs 7.- 18 hogs. . 2 hogs... i 7 hogs.. 4-hogs. . K 6 hogs.. ?2 3 hogs.. I 'il 6 hogs.. "' 24 hoars. . . - 1 hog 6.251 T h"t C-J5l4 hois.' RftO 10fi5 10RS 730 005 1045 R37 000 20 cows. 2 cows . ft cows., 10 cows . B cows. 0 cows 2 cows . 2 cows. 0 cows. 30 cows . 2 cows. Id cows. 1045 32 cows.. 1005 20 cows,.,. 1025 20 cows.. ' 003 5 cows 004 8 cows.. 037 2 cows.. 905 19 cows.. 005 27 cows.. 00 4 cows.. 10R1 14 cows.. lOfiO 13 cows.. 027 4 cows.. 844 2 cows.. 11 So 2 cows.. .111 21 cows.. 042 2 cows.. 00 2 cows.. 7fl."i Scows.. R07 2 cows.. OftO 9 cows.. 10fi0 13 cows.. 1056 14 cows.. 1025 17 cows.. 1045 6 cows.. 036 4 cows.. 870 24 cows.. 1033 2 cows.. 1025 6 cows.. 1025 3 cows.. 1156 25-cows.. 10.4 2 calves. 265 5 calves. 4 calves. 5 calves 4 calves. 5 calves. 1 calf. .. 3 calves. 5 calves. 5 calves. 4 calves. 8 calves. 4 calves. 40 calves. 3 calves. 15 calves. 3 calves 10 calves. l calf. .. 3 calves. 1 calf. . . 1 hog. . . 6.101 7 hogs.. 3 hogs. . J-? 89 hogs. . ? 2 hogs. .. : 61 hogs. . 4 hogs. . 7 hogs. . 'J 1 hog... 2 hogs. . J-0"l0 hogs.. J5 2 hogs. . 2 hogs. . 5.251; 4.751" 4 50f ? i 5.101 6.351 6. SOW 6.1 4.25! 5.50' U! A hn.. . S nnP8 h8s- -i 15 hogs.. " 23 hogs.. 322 187 227 198 805 456 510 220 188 266 185 222 150 120 320 395 90 130 198 200 246 153 185 530 306 403 68 126 137, 87 123 170 82 111 116 107 380 136 393 118 130 168 ISO 174 198 174 325 175 87 105 97 170 173 145 245 320 242 125 204 125 .143 260. 126 167 , 131 110 185 323 78 78 91 55 52 65 Argentine 2d 7s 1923 99 do G I 5s 1945 83 Belgium 8s 1940 106 Bergen 8s 1945 108 Berne 8s 1945 112 Christlanla 8s 1945 110 Copenhagen 5s 1944 91 "Danish Consol 8s : . 1946 109 French Cities 6s 1934 83 Italy 6s A i 1925 96 Swedish Govt 6s 1939 103 U S Mex 4s 1054 ' 48 do ext 5s 1945 59 Uruguay Ext 5s 1845 - 58 Zurich 8s 1945 111 French Internal 4s 1917 61 do Victory 6s 1920 62 Belgian Restoration 5s 74 British 2s consols 53 Italian cons War Loan 5s.. 35 a. oil 6 hogs 4- 5Q 5 hogs.. J 15 hogs.. 5.50 77 hogs... 21 hogs. . 3-50 lhog...-1-1287 hogs.. J-5 3 hogs. . 3 -Sn 81 lambs. 2.50 217 lambs 4.50 44 lambs. 4.50 j9 Jambs. 5 651 5 lambs. 5- 75 9 lambs. -7o 1 lamb.. 5-60 6 lambs. o-OO 5 iambs. 4 00 2 lambs. 8 00 o lambs. 6.50 i iamb. . 6.00 4 lambs. 6 50 8 lambs. 5,50 8 lambs. 6.25 l lamb.. 7.501 1 lamb. . 9.00112 Iambs., . 9.001 5 lambs. 6.75! 4 lambs. 8.501 7 lambs. 6.001 1 ewe. .. 5 00112 ewes. . 8.501 7 ewes. . 8.50111 ewes.. 8.50136 ewes. . 6.00!164 ewes. 6.00158 mixed. 8.00'237 yearl. 6.001247 yearl. 6 00118 yearl.. 7.00111 yearl.. 8.75-1 1 wether 8.75124 wethers 119 8.751 2 wethers 130 9.00J 1 buck. . 240 Prices quoted at the Portion tt. stockyards were as follows: Choice steers Medium to good steers . . . Fair to medium steers . .. Common to fair steers Choice cows and heifers.... Medium to good cows, heifers Fair to medium cows, heifers Common cows canners 2.00 .ouus .................. Choice dairy calves -, P,rime light calves Medium light calves Heavy calves Hogs Prime light : Smooth heavy, 200 300 lbs. oraoDin neavy, aw lbs. up. . Rough heavy ....... Fat -pigs Feeder pigs ' Stags, subject to dockage..! Sheep i-noice vanev iambs 8.00 9.00 150 . 180 182 350 190 320 173 176 158 218 228 340 222 153 308 130 188 150 180 130 110 56 40 55 70 75 60 72 50 80 . 77 84 72 87 120 129 135 133 91 100 72 94 95 83 115 130 8.T5 4.00 4.00 4.00 3.50 3.65 5.00 4.00 4.00 3.60 3.50 3.50 3.75 10.75 8.00 9.00 11.00 10 50 11.50 11.50 10.75 9.00 8.00 11.50 11 00 11.50 11.00 8.00 6.00 9.00 11.50 13 00 11.50 11.60 10.75 11.50 8.00 7.00 10.60 11.00 11.50 8.00 11.: 11.50 11.50 6.50 9.O0 8.00 12 25 12.00 12.00 12.25 12.25 7.00 li25 12.25 12.00 12.25 8.50 12.00 7.00 12.25 11.75 11.60 11.60 11.60 11.50 12.00 11.00 12.00 12.25 12.25 12.25 11 12.00 12.00 12.00 12.00 10.00 8.00 11.50 12.25 12.25 12.25 II. 1200 12.00 12.00 12.00 12.00 12.00 9.00 8.50 8.50 9.25 6.00 5.60 8.00 1060 . 7.00 6.00 5.00 5.00 6.00 6.00 6.00 6.00 8.00 8.00 8.00 8.00 8.00 9.00 2.00 3.00 a no 310 I 3.00 5.00 4.00 7.50 7.50 5.25 7.00 6.50 6 50 5.00 2.60 mostly $4.S06; grass heifers, $67; other classes steady. Htgs Receipts, 7000 head, lighter weights etrong to 6c higher; others slow, steady with Friday's average; bulk 150 to 220 pounders,. $10.15010.25; sorted light, $10.30; shippers took around 1900; bulk tit sales $9.25 10.25; packer top, $10. it stock pigs around steady; bulk aesir&Bie natives $iu.ou. STBen Receipts. 7000 head. . lambs. 25990c lower; top natives and Arlxonas, iia.20; most sorted lots, na. (sfli3.zo; culla $6.757.25: sheep strong; light ewea, $7.257.50; heavier offerlnga gen erally ta.2o9t)-7!. ' Omaha Livestock Markrt. OMAHA. July 17. (United States Bu reau of Agricultural- Economics.) Hogs Receipts, 6500 head, few early sales medium and light l-015c higher; most sales steady: bulk heavy mixed and packing gradea, $69; bulk medium and ugnu ja.iaiu.4u: top, iiu.bo. Cattle Receipts, bsoo neaa, oeei steers firm to 15c higher; spots more; top, $10.45; good she stock- mostly steady; common and grassy cows slow to lower; bulls about steady; veais, Zocwl lower; stockers and feeders slow, weak to 25c lower. Sheet) Receipts. 17.000 head, lambs steady to 25c lower; top westerns, $13.25: fed clipped lambs, $12.60; fed clipped yearlings, $11.75; sheep steady; ewe top, $7.60; feeders alow; early sales feeding lambs, $12.50; some held higher. San Francisco livestock Market. SAN FRANCISCO, July 17. Steers, No. 1. $6.5007; No. 2, $55.75; cows and heifers, No. 1, $4.505; No. 2, $4 4.50; bulls and stags, $33.50; light calves, $89; heavy, $78. Sheep Wethers, $5.50 7; ewes, $3 4; lambs, $10.5011.50. lfnn 125 to 200 sounds. S12: 200 to 250 pounds; $11; 250 to 300 pounds, $10. Seattle livestock Market.' SEATTLE; July 17. Hogs Steady, re- nta 41 head: nrlme. 111. 50 11.85 : smooth heavies, $6(97.50; pigs. $9.75 10.25. Cattle Steady, recelpta 661- head; prime steers. $8.258.50; medium to choice, 97.50s.2o; common to gooa, ia 7; best cows and hellers, Stttgxi.ou; medium to choice, $5 6:.- common to good, $4 5; canners, $23; light calves. $S7; heavy calves, uvea; ouus, a 3.50.. LIBERTIES STILL EL11 THREE ISSUES SELL AT TOP PRICES OF TEAR Railway Bonds Ignore Strike Con ditions Foreign Loans Are . Irregular in Trend. Mex Pet Miami .. Mid Sts Oil ..,.10,200 Midvale Steel .. 2.800 M K & T 2,000 do pfd 400 Mont Power-... luO Mont Ward .... 1,000 Mo Pao 1,500 do pfd ....... 800 M St P & S S M Marland Oil 3,800 Martin & Perry Nat Enamel .... 3,500 64 Nat Lead 200 10O Nevada Cons ... 200 16 New Haven 2,000 30 9,300 161 156 169 13 35 18 40 70 22 22 56 13 ' 34 17 40 70 21 21 66, 41 l 40 53 100 16 30 i. 13 3o 17 40 69 22 21 31 54 100 . 16 30 Nor & West 108 PROSPEROUS ERA OPENS KLAMATH COUNTY OU VERGE OF BUSINESS REVIVAL. Condition of Banks Is Pointed to as Reflecting Stability in Industry and Trade. KLAMATH FALLS, Or., July IT. (Special.) Klamath county- Is on the verge of an era of stable and assured prosperity; business conditions are im proving rapidly and the next four months will develop great prosperity In all lines. . - This is according to statements of J. A. Gordon, president of the. First National bank, and E. M. Bubb, : vice president of -the American National bank, . based upon an analysis of conditions as shown by the banks' business In the last two weeks. 'Since our last statement, Jane 30," said Mr. Gordon, "the deposits of the First National have increased $101,000. This is- due to betterment in all branches of business, created chiefly by revival of the lumber industry through removal of the strike blockade. "From now until winter we look for a continuance of this condition. Merchants are doing more business than they have done for months and the days of depres sion are passing rapidly." Healthy conditions In both the live stock and lumber Industries are restor ing . Klamath's normal prosperity," said Mr. Bubb. "Prices in both lines are good, and indications are that they will remain so." a Should the lumber market remain fa vorable during the winter there will be far less slackening than usual this year, as several mills are planning to . heat their mill ponds and run throughout the winter. . .sawmills always have closed here for four months in the winter. Box factories .for the last two or three vears have operated through the winter at re duced capacity. QUOTATIONS ON DAIRY PRODUCE Current Market Ruling on Butter, Cheese i . . . . and Eggs. SAN -FRANCISCO, July 17. (U. S. Bureau cf Markets.) Butter, extra, 44c; prime firsts, 41c; first, 39c. Eggs Extras, 29c; extra pullets, 24c; undersized No. 1, 17c. ' . Cheese California flat fancy, 21c; flat firsts, 19c; Young America fancy, 26 c. NEW TORK, July 17. Butter. lower. Creamery, higher than extras, 373c; extras, 3637c; firsts, 3336c; pack ing stock current make No. 2, 25 26c Eggs Irregular; fresh gathered extra firsts 2730; firsts, 2426. Cheese Easy. State whole milk flats fresh specials, 21 22c; average rum, 20c; state whole milk twins fresh spe cials, 2121c; do average run, 20c. CHICAGO, July 17. Butter Lower. Creamery extras, 35c; firsts, 3184c; seconds, tgi-a uc ; standards, 83c. Eggs Steady; receipts, 22,852 cases; firsts 2122c; ordinary firsts 20 21c; miscellaneous, 21 22c. SEATTLE, July' 17. Eggs Select lo cal ranch, white Ehells, 2738c;- do mixed colors, 2526c; pullets, 21 23c. Butter City creamery cubes, 45c; bricks or prints, -46c. NEW TORK, July 17. Liberties were again the center of interest and strength in today's bond market. Still higher prices of the year were made by the sec ond 4s at 100.74, the third 4s at 100.54 and the fourth 4s at 101.06. International issues were extremely irregular, mainly as a result of the break in Mexicans, the 4s losing 2 points and the 5s point. Belgian 8s improved moderately with French municipal and Copenhagen 5s. Railroad bonds continued to ignore strike conditions, higher quotations rul ing with Reading general 4s as the out standing feature at a gain of 2 points. Erie general lien issues, Missouri Facmc 6s and Northern Pacific 6s made sub stantial improvement. Louisville & Nashville 4s, Chesapeake & Ohio convertible 4s, Baltimore & Ohio 4s and Central Pacific first 4s. Total sales, par value, aggregated $15, 871,000. The day's few new underwritings in cluded a $2,000,000 province of British Columbia 5 per cent offering at a price to yield 5.35 per cent. Bankers are forming a syndicate to bid for $15,000,000 of Philippine' government bonds to be issued as a 4 per cent loan. Stock market prices were irregularly upward for the most part on a very moderate but fairly broad turnover, re gardless of the coal and railway strikes and' renewed signs of "saturation" in the oil industry. , Western freight improvements .were variable, .but reports from Pittsburg and Youngstown indicated that the steel trade was beginning to feel the effects of the railway walkout. Additional cuts in prices of crude products were announced from Pennsylvania, mid-continent and southwestern, oil districts. Equipments were the most stable fea tures of the day, further' gross gains of 1 to 2 points being scored by the loco motive group, American Car, Pressed Steel Car, Railway Steel Spring and General Electric ' Oils furnished the basis of a series of drives against the short interest. Mex ican Petpoleum replaced its early heavi ness with a brisk recovery at mid-day and a net gain of 1 points, but sec ondary domestic oils were sold in the final hour with Studebaker and Baldwin and American Locomotives, Foremost features among rails included Canadian Pacific Union Pacific Rock Island and Atchison,, where advances' of large fractiiWis to almost 2 points were made, though not retained, American Can and Industrial Alcohol ran counter to tho moderate reaction before the close, the latter gaining almost 3 points. , - Miscellaneous stocks, notaoiy cnain store and mall order Issues, rubbers, to baccos, metals and utilities moved with in contracted limits, with mixed gains and losses at the end. Sales amounted to 485,000 shares. All of the day's call money was placed at the one rate 3 per cent with no change in short or long-time loans, for which the inquiry was reported to be unusually light. Interior banks were in the market for merchants' paper at last week's nuoftattons. London sent over a higher range for leading exchanges and extensions to quo tations than were made in this- market. Firmness ruled for British, French and Italian bills. Most of the neutrals strengthened, but marks again .eased and further weakness was shown by the Austrian remittances, while tne lzecno Slovakian rate was at its best for the current movement. CLOSING STOCK QUOTATIONS. Furnished by Overbeck & Copke com pany of Portland: Sales. High. Low. Adams Exp... North Pac 900 Nova Scotia Stl. 100 N T Air Brake. 400 N T Central ... 1,500 Nor Amn 2,000 Okla Prod Ref . 1,500 Ontario Silver 100 Ontario & Otis Steel Pacific Devel Pacific Oil .. Punta Alegre Pan Am Pet do B ...'.. Penna 1,000 Peoples Gas 1.2O0 Pere Marquette.. 1,400 Pure Oil .. Phillips Pete .v Pierce Arrow . Pierce Oil Pitts Coal Pitts & W Va Penn Sea Steol Pressed Stl Car Pullman Ray" Cons .... Reading 77 77 76 81 31, 31 . 79 78 79 96 95 85 67 66 67 2 2 2 ' 7 7 7 West 25 ZOO 11 11 11 11 67 48 72 66 44 85 33 30 ' 46 19 8 63 38 8 80 100 1,000 200 4,700 700 69 65 47 70 65 43 84 32 29 43 19 7 63 38 8 1.800 9,800 100 2,000 600 700 1,000 1,000 5,500 124 700 16 1.300 75 Remington " 35 Replogle Steel . 100 31 31 31 Kepup i & 6 ... 1,000 72 71 do pfd Rep Motors 200 10 8 Royal Dutch Oil 1.200 5 7 56 Ry Stl Spring ..i4,000 105 104 i 93 93 3,400 79 78 69 65 48 70 65 43 84 32 29 44 18 8 63 38 79 121 121 16 16 75 . 75 Stand OH Ken. Sears Roebuck Shattuck Ariz . Shell T & T Sinclair Stand Oil Ind. Stand Oil N J Sloss Shef Sou Pacific 2,100 90 South Rwy .... 1,500 24 Stand Oil Cal... 1,200 105 St L ft 8 F 200 28 tromDerg uarD. l.wiu 4ttV4 1 91 9 56 106 93 78 , 9 38 31 100 40 40 8.200 32 31 108 107 107 600 182 182 180 45 89 89 24 24 103 103 28 28 45 4u Studebaker 8,900 138 136 137 Swift Co Tenn Cop & Ch Texas Oil 5,400 4 6 45 Texas Pacific... 1,000 30 29 Tex Pac C & O:. 4,200 26 25 To Products 2,000 80 79 Tran ContI Oil.. 3,400 16 16 Union Oil Del... 2,900 21 20 Union Pac. 1,900 143 141 101 10 '29 25 79 16 20 141 United Alloy...; 33 Advance Rum. . . do pfd Agr Chem ...... AJax Rubber ". . . Alaska Gold Alaska Juneau.. . Allied Chemical. AlliS Chalmers.. do pfd Am Beet Sugar.. Am Bosch ...... . Am Can Co. ... .1 do pfd Am Car & Fdy. . Am Cot Oil Am Drug Syn. . . , Am Hide & L. . . do pfd Am Ice Am Intl Corp. . . Am Linseed .... Am Loco , do ptd Am Saf Razor. . Am Ship & Com 2,400 Am Smelter . . . do pfd Am Snuff ...... Am Steel Fdy. Am Sugar do ptd Am Sumatra . . Am Tel & Tel. . Am Tob , do B Am Wool do pfd Am Zinc Anaconda Assd Oil Atchison do pfd Atl Coast Line Atl Gulf Baldw 200 "18 18 600 '38 '38' 200 16 15 Bid. 62 18 48 38 15 1 .$ 7.50 8.25 0.754s 7.50 5.7o 6.75 4.00 5.75 6.00 6 50 5.25 8.00 4.50 5.25 3.50 4.50 .50 3.50 4.50 8.50 9.00 8.00 8.50 7.00 8.00 5.00 7.00 .11.5O12.00 10.50 11.00 9.0010.50 8.00 g-10 00 11.5012.O0 12.0012.25 5.00 8.00 Medium valley lambs . . common valley, lambs ... Cull iambs Light yearlings Heavy yearlings Light wethers X, Heavy wethers Ewes ; 7.00 8.00 6.00 7.00 5.00 6.00 7.00 8.00 6.00 7.00 6.00 7 00 5.00 J.O0 2.00 5.00 Curb bond Allied Packers 6s Am Tel & Tel 6s 1922 do 6s 1924 Anaconda Copper 6s ....... .... do 7s .... Anglo-Am Oil 7a 108 Armour & Co 7s 104 uetn steel (s isao Copper Ex Assn 8s ........ 1924 do 8s 1925 Galena Signal OH 7s 104 Grand Trunk 6a 105 Gulf Oil Co 7s 104 Humble Oil 7s 100 inter rtapia Aran is .... Llbby McN & L 7s Sears Roebuck 7s 3-year.... 1923 Southwest Tel 7s 102 Standard Oil N T 6s 1933 108 do 7a 1926 105 Swift & Co la 1925 102 do 7a 1931 102 Texas Co 7s Notea 101 Vacuum Oil 7a ,.,muuu mu. 107 82 100 101 iuo 103 102 102 104 98 101 Chicago Livestock Slarket. CHICAGO, July 17. (United States Bureau of Agricultural Economics ) Cattle, recelpta 21,000 head; better grades corn fed beef, steers and butcher she stock steady to strong; bidding 15c to 25o lower on other grades; few early sales 15o off; early top beef steers. $10.65; bulk. $010; bulls weak to 15o lower; most bologna around $5; veal calves slow, early sales weak to 25c lower; packers bidding mostly $89,25 stockers slow, weak. ' ' Hogs Receipts, 47,000 head, opened 5c to 10c higher; later 10c to 15c higher- D""a iuu oaiuraay s aver age on good light and light butchers; umere anu pacaing grades slow; big packers bidding lower; few early sales strong to 15o higher; top, $10.90: bulk $8.7010.80; jUgs, 15c to 25c higher1 mostly $9.5010.5O; heavyweight, $10 10 10.50; medium. $10.4010.80; light $10.7O10.9O; light light, $10.25 10 80 packing sows smooth, $8.35 9 25- pack ing sows rough. $7.858.'40; killing D,rs. $9.5010.50. Sheep Receipts, 22,000 head, sheep about steady; fat ewes mostly $6.50 7.50; fat lambs mostly, 25c lower; spots off more; native lambs, $13.50 to city butchers; $13.40 to packers, cull, natives largely $7.508; good Idaho feeding lambs, $13; best fat western lambs un sold early. Kansas City Livestock Market. -KANSAS CITT, Mo., July 17. (United States Bureau of Agricultural Econo mic) Cattle Receipts, 20,000 head; better grade beef steers mostly 10 15c lower; few salea steady to weak: top heavies, $10.30; other grades generally 15(5)25o lower: vearlines and fnt i stock steady to 25c lower; mostly steady . better grades cows, $6,25 g 6,50; others Metal Market. ' NEW TORK, July 17. Copper, Bteady; electrolytic, spot and later, 14c Tin Steady; spot, 31.12c; futures, 31.25c - Iron Steady; No. ' 1 northern, $25 27; No. 2 northern, $24 25; No. 2 southern, $19 20. Lead Steady; spot. 6.705.75c. Zinc Steady; East St. Louis spot and uearoy aenvery. o. io&. a. hoc. Antimony Spot, 5.00 5.25c Naval Stores. - SAVANNAH, Jy 17. Turpentine, iircu, .i.i3l. saies, aa parrels; receipts, 340 barrels; shipments, 90 barrels; stock, 6620 barrels. Rosin Firm; sales, 743 casks; receipts, 1330 casks: shipments, 840 casks; stock, on.itl uasivs. WUDIQ J3, 4.D0; JJ, -S4SM; E, F, G, H, $5.05; I, $5.10; K, $5.45; M, $6.50; N. $5.80; WG, $6.36; WW, $7. Coffee Futures Dull. 3EW .YORK. July 17. The market for coffee futures was dull all lay and a iitue lower, owing to a gradual elimina tion of long Interests. The close was 9 pbints lower onJuly and 4 to 5 lower on other positions. Sales were, estimated at wo Dags. ,iuiy, s.aoc: September, 9.50c October, 9.49c; December. 8.47c: Janu ary, .4c; March, 8.45c; May. 9.43c. Spot coffee dull; Rio 7s, 1010c; oamus -B, 4sn4c. Cotton Seed Oil Market. . NEW TORK, July 17. Cottonseed oil closed: January, 8.2i8-30c; February, 8.28.31c; July, 10:3010.50c: August. 10.2310.25;. September, 10.2710.29; Oc tober, .70u.m; November, 8.468.48c; December, o.2j8.80c NEW 4.99c; refined, 6.60c Sugar Market. losit, July 17. Raw sugar. xine granuiatea, tt.ov SAN FRANCISCO, July 17. California Hawaiian sugar, 4.89c. , Hops at New York. NEW TORK, July 17. Hops ouiet states, 1921, 20 24c; Pacific coast, 1921, 1924c; 1H20, 1719C. Creditors to Get Payment. THE DALLES, Or., July 17. Spe ciaL) The first payments to cred itors of the defunct French & Co.'s bank were made today by O. B. Rob ertson, deputy state superintenden of banks, in charge of the Hquida tion. here. Checks totaling $300,000 were placed in the mail this after noon. This represents irbout 70 per cent of the total amount held in the savings accounts and about 25 per cent of the amount due commercial creditors. The next payments will be made in October. The prestige of Oregonian want ads has been attained not merely by The Oregonian's large circulation but by tha fact that all its readers are interested is Oregonian want ads. x&? Stores ,200 68 67 68 ,600 55 53 54 98 500 44 -44 44 39 ,800 57 55 56 108 400 168 167 167 100 27 27 . 27 5 100 14 14 14 100 69 69 69 600 110 109 109 42 100 34 34 34 ,700 116 114 115 117 United Drug. United Food Prd United Fruit Union B & P U S C I Pipe: . .. 100 United Retail Sts 2,900 U S Ind Alcohol. 12,900 U S Rub do 1st pfd U S Smelting... u s steel do pfd . . : Utah Copper..... va Chem do pfd Vanadium -Steel. Vivandou ....... Wabash do A pfd. do B Dfd Wells-Fargo western f&c ... do pfd Western Union.. Westhse E & M. West Md 33 66 58 67) 61 600 62 100 106 106 7,600 100 99 600 120 120 iOO 60 64 30 65 47 11 12 32 300 300 600 800 1,000 1,000 30 65 46 11 12 31 77 141 62 32 60 60 61 106 40 90 120 4 45 11 12 32 1.000 103 3,600- 61 76 18 58 100 102 60 60 11 White Motors .48 Willys-Overland. do ptd Wilson Packing. Wisconsin Centl Woolworth .... Worthington Pm W & L E White Oil Wht Eagle Oil. . 2,100 700 9 48 47 500 -51 51 500 1,200 8 8 26 25 500 1,300 200 6 20 37 79 6 19 36 37 6 19 61 98 134 36 78 105 38 121 121 142 14: 400 90 90 300 38 900 121 200 142 138 90 107 18 52 114 101 90 108 lit & WJ 6.600 37 36 . 36 In LOCOA .26.300 121 118 119 500 700 18 52 17 82 2,200 101 101 200 90 90 WJU 1118 108 do pfd Balto & Ohio. .. do pfd -. , Barnsdell Corp. .. Beth Bteel a.... Booth Fish BRT Butte C & Z. .. Butte & Sup.... warns Jtiros Caddo Oil Cal Packing Cal Pet do ofd Canadian Pac . . Cen Leather .... Cerro de Pasco.. Chand Motor..-.. Chi & N W Chgo Gt W do pfd Chill Copper Chino C M St P do Dfd Cooo Cola ....... C & O Colo F & I Colo Southern... CM Gas & E... Col Graph Con Gas t . . Cons Cigars Contl Can Cities Svc Bank. Corn Prod 5,900 200 100 900 600 700 500 200 52 61 32 76 8 25 6 28 400 13 51 61 32 76 8 25 6 28 '13" 110 52 61 ' 32 76 8 25 6 26 132 13 8 48 41 28 164 51 13 , 8 25 Liberty Bond Quotations. Liberty bond and victory note quota-, tlons furnished by the Overbeck & Cooks company of Portland: Closing Open High. Low. bid. Liberty 3s.. 100.74 100.94 100.74 100.90 Liberty 1st 4s 100.60 Liberty 2d 4s 100.60 Liberty 1st 4s 100.86 100.94 100.86 100.90 Liberty 2d 4s 100.56 100.74 100.52 100.62 Liberty 3d 4s 100.36 100.52- 100.34 100.48 I.lbe'y4th4s 100.84 101.04 100.92 100.96 Victory 4s.. 100.52 100.56 100.52 100.54 Money, Silver, Etc. NEW YORK, July 17. Calf, money, steady; high, 3; low, 3, ruling rate 3; closing bid, 2; offered at S, last loan 3; cail loans against acceptances, 2 per cent. Time loans, steady: 60 days, 4; 90 days, 44; six months, 44; prime mercantile paper, 44 per cent. Foreign bar silver, 70c. Mexican dollars, 53 c. LONDON, July 17. Bar silver, 35 d per ounce: Money, 1 per cent. Dis count rates, short bills, 1 per cent; three months bills, 1 15-16. . Boston Mining Stocks. Boston mining stock quotations' fur nished by the Overbeck & Cooke com pany of Portland: 200 78 78 78 1,600 81 61 61 93 1,666 140 189 139 200 39 38 38 400 36 30 500 70 70 70 600 77 75 76 . . 200 8 ' 8 8 200 20 20 20 3.000 22 22 22 . 29 2,600 28 27 27 1,600 44 43 43 4,700 72 70 71 700 68 68 68 200 30 30 30 100 48 48 48 800 89 89 89 3,100 4 4 4 7,300 125 123 i23 ; p . . . 33 2,200 '70 '68 70 00 Stock- Ariz Comm Adventure Ahmeek Algomah Allouez Arcadian Bingham Mines Calumet & Arizona Calumet & Hecla..... New Cora Centennial Copper Range Davis Daiy East Butte Franklin Mining Hancock -. ... Island Creek Keewanaw Kerr Lake Lake Copper La Salle Mohawk May Old Colony :. Mason Valley North Butte Nipissing Old Dominion Copper. Osceola Mining Quiftcy Mining South L,ake Supp Boston South Utah Superior Copper ..... Trinity Copper Tuolumne U S Mining do pfd Utah Apex Ventura Victoria Winona Wolverine Wyandotte Bid. Asked. 9 600 104 103 103 200 117 118 116 do Dfd Cosden Oil.. 17.600 44 C R I ft P 300 44 do "A" pfd... 100 94 do "B" pfd ... 300 82 Crucible 10,500 79 do Dfd Cuba Cane 100 16 pfd Cuban Am Sug. . 600 23 Del & Hudson Dome Mines 100 30 Del & Lack Davison Chem... 300 45 Endicott John... 900 83 Erie 1,200 16 do 1st pfd 1,800 23 Elec Stor Bty... 200 44 F M Smelt do pfd 100 50 FiBk Tire 600 15 Oen Cigars ' 300 76 Gen Elec 400 171 Gen Motor ...... D.iuu 14 do 670 -. Gen Asphalt,.... 8,200 69 67 Goodrich Glidden Paint... , Granby Great Nor or... nw -sm do pfd 1,700 81 Green Can.. Gulf S Steel Glen Alden. Houston Oil 300 75 Hupp Motor 1,400 19 Illinois Cent 200 107 InsDlration 100 41 In Ag Corp com '400 9 do pfd 400 38 Interboro 100 1 do Dfd 1,500 8 Tnter Callahan.. 2.600 8 Int Harvester... 000101 100 Int Mer Marine. 100 19. 18 do pfd 400 71 71 ' Int Nickel 1.600 17 17 Int Paper 300 52 52 do pid Invincible Oil... 2.700 island Oil 3,300 Jewel Tea l.uuu K C Southern... 100 K C South pta.. sou 43 43 Mi 94 81 76 'is" '23 "36 '45 82 16 23 44 56" 15 76 171 14 39 80 . ... 2,000 83 81 74 19 107 41 9 38 1 3 7 Kelly-Spgfield . 100 Kennecott 1,400 Keystone Tire .. 300 Lack Steel 1,900 Lee Tire 100 Lehigh Valley . 700 Lnrillard 300 155 Loew Theaters . 300 15 L ft N Mex Seaboard . 9,300 32 Maxwell Mot A. 100 66 Maxwell B 8,600 24 ii? IT 25 60 48 36 15 77 29 65 14 16 25 56 48 36 15 76 29 64 134 15 31 66 23 43 43 94 81 77 90 16 35 23 123 29 127 45 82 16 3 44 . 12 49 15 76 170 . 14 81 68 39 15 29 39 80 80 81 53 75 19 106 40 9 38 1 8 7 11U) 18 70 4i .17 82 85 14 if 56 47 35 15 75 29 65 154 ' 15 129 31 66 24 11s 65 62 20 25 3 14 60 270 10 10 43 . 7 10 5 107 2 3 4 11 60 4 1 12 6 25 32 43 45 1 5 ' 4 1 63 40 47 2 31 1 1 13 50 90 63 50 , 25 3 14 60 "i 11 44 7 11 2 3 108 3 4 5 ' 11 61 . 5 o 13 6 26 33 44 47 1 10 4 65 41 47 -2 1 13 70 Foreign Bonds. Furnished by the Overbeck & Cooke company, of Portland: Bid. Ask. Belgian rest 5s 1919 66 70 do prem 6s 1920 70 74 do 7s 1945 106 107 do 6s 1925 100 100 British 5s 1922 80 S3 do os 1927 93 95 do 5s 1929 94 , 96 do vky 4s 1919 78 80 ref 4s 1919 77 79 United Kingdom 5s. 1922 109 109 do 5s 1929 109 109 do 5s 1937 103 103 Bordeaux 63 1934 82 83 Canadian 5s 1926 99 99 do 5s 1927 98 99 Canadian 5s 1919 100 101 do 5s 1937 98 99 do 5s 1931 1)8 88 Chinese 5s 1951 53 54 Chile 8s 1941 103 104 French 4s 1917 50 61 do os : 1920 70 73 . do 5s 1931 60 62 do 7s 1941 99 99 do 8s 1945 102 102 German W L 5s 1 2 Berlin 4s 1 2 Hamburg 4s 1 2 do 4s 1 2 Lelpsig 4s ........ .... 2 3 do 5s :.. 2 3 Munich 4s , .... 2 3 do 5s 2 3 Frankfort 4s 2 3. Italian 6s 1918 34 35 Jap 4s 1931 77 77 do 1st 4s 1925 92 92 do 2d 4s 1925 92 92 Norway 8s 1940 110 110 Denmark 8s 1945 109 110 Russian 5s 1921 16 19 do 5s 1926 3 4 do 6s 1919 16 . 20 Sao Paulo 8s 1936 100 101 Swiss 5s 1929 102 103 do 8s 1940 118 119 4 jlririgation bonds iberal yield JLLndisputable security 1L inancial record perfect To yield over ree from income tax Ask us for details of these Iliff bonds. Telephone orders "collect." Do It Now Use our Partial Payment Plan Freeman, Smith & Camp Co. LuuaKRMKNa Buna.. Portland AND (QMi'll"'AT First Mortgage Interest Rates from These "Odd Lotff BondsYields to Unfortunately the available amounts of these issues is so limited that no large investment in any one can be made. If you have idle from $500 to $5000 thjs list offers an opportunity for very advanta geous investment. A , Due Yield New Westminster, B. C, 6s. 1952 6.00 Province of Ontario 6s 1923 5.75 Republic of Bolivia 6s . 26-27 7.50 Virginia-Carolina Chem. 1st Mtg. 7s . 1947 7.10 Wm. Hanley 1st Mtg. 7V2s 1924 7.00 Pacific Power & Light 5s 1930 6.10 Province of Alberta 4i2s 1924 5.75 Remington Arms 6s 1937 6.75 Lane County, Or., 5s......... 33-34 4.70 Oregon State 4V2s : 1927 4.25 Marion County, Or., 5i2s r 1927 4.70 Payette Highways 6s .1942 -5.25 LUMBERMENS BROADWAY and OAK .16680 .07770 .00630 .01300 .15580 .26000 .19120 .58300 .80000 .48280 Norway, kroner - Portugal, escudos - .- Roumania. lei Serbia, dlnara Spain, pesetas Sweden, kroner Switzerland, francs China Hongkong, local currency Shanghai, taels Japan, yen - x-t-TTr vnnlf .Tulv 17. Foreign ex change,' firm. Great Britain, demand 4.44; cables 4.44; 60-day bills on banks. $4.42: France, demand 8.29. ca bles 8.29; Italy, ." " ; $4 58; Belgium, demand 7.84, cables T.85; Germany, demand .21, cables .2.; tiouana, aemauH oa. -. - way. demand 16.63; Sweden, demand 25.85; UenmarK. aemana ii, -land, demand 19.17; Spain "15.52; Greece, demand 2.85; Poland, 01TS: Czecho-Slo- i Argentine, demand 37.50; Brazil. 13.75; Montreal. 98. COTTOS FUTURES MARKET SAGS Increased Selling Causes Mat at New Tork to Ease Off. NEW TORK, July 17. The tendency of'the cotton market today waa to sag in featureless trading, but the decline i i 1 1 via aftprnnnn when. was nominal uuwi " . - with sentiment still mixed. Increased selling caused tne nsi io " at the close It was 25 to 49 Points net lower on the day. Demand for future contracts was still restricted by the variety of unsettling outside influences, including the railroad and coal strikes and tne omo Prices went 15 to 25 points net lower In the first coupie oi num., about ten points, but slipped back as the tone became heavy In the later dealings Wall street interests were the principal sellers. .JJt, Spot quiet, at 22.20c for middling. Southern spot markets were Galveston, 2 55c. 50 points down; New Orleans steady, 23 down, 22.23c; Savannah steady, 50 down, 22c; Augusta steady, 38 down. 22 43c; Memphis steady, 50 down, 22.50c; Honston steady, 50 down, 22.40c; Little Rock quiet, 25 down, 22.25c. Chicago Oil Market. CHICAGO, July 17. Gasoline tank wagons. 23c; service stations, 25c; ma chine, 37.9c. Oils Summer, 13.4c; winter, 13.9c. Carbon perfection iron barrels, 12 c. Linseed oil, raw, 1 to 4 barrels deliv ery. $1.06; boiled, $1.08. , ' Turpentine $1.37. - Denatured alcohol, 40c. Forelg-n Exchange. Foreign exchange rates at the close of business yesterday, furnished by the Northwestern National bank of Portland. The amount quoted is the equivalent of tlie foreign unit in United States funds: Country. Foreign unit. Rate. Austria, kronen $.00010 Belgium, francs - 0900 F.ulgaria, leva 00770 Czecho-Slovakla, kronen 02320 Denmark, kroner 21550 England, pound sterling 4.45750 Finland, finmark 02250 France, francs . . . i 08320 Germany, marks 00250 Greece, drachmas .... . . ...... .03030 Holland, guilders 38800 Hungary, kronen 00120 Italy, lire 04620 Jugo-Slavia, kronen ,00320 HaveCashBuyer West Side Corner In center of West Side Business ,. District. PRICE MUST BE RIGHT . ' Due courtesy to Realtors. William P. Merry Title & Trust Bldg. Utah Light and Traction Co. First and Refunding Mort gage 5 Gold Bonds, due 1944 GUARANTEED Unconditionally as to princi pal and interest by the UTAH POWER AND LIGHT COMPANY One of the Largest Hydro Electric Companies in the Country. Price to yield about s 5.70 Complete circular on request The National City Company Offices In more than 50 cities Yean Bide;. Telephone Main 6072. Longevity A recent issue of The Manu facturer says: "The fatigue of a raw concrete surface, the wear and tea on tires, the final crystalr lization of structure of both steel and concrete are facts of such common everyday observation that ordinary intelligrence ought to demand the non-jarrine; sur face in highway construction." Warrenite-Bitulithic is a type of pavement that has demonstrated the longevity of shock-absorbing pavements in almost every sec tion of the United States. 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. Phon your want ads to The Ore gonian, Main 7070, Automatic S60-&5. T