THE 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