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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Aug. 19, 1922)
THE HORNING bREGOXIAN, SATURDAY, AUGUST 19, 1022 21 GERMAN CURRENCY VALUE IflRIIG NIL Further Decline Feature of Financial Market. STOCKS ARE HOLDING UP Wall Street Confident Coal and Railway Controversies Will Be Settled Shortly. BY ALEX DANA NOTES. (By Chicago Tribune Leased Wire.) NEW YORK, Aug. 18. In the broad fild of financial events the further col lapse of the German mark was the out standing occurrence of today. Our own stock and .bond markets continued to display the composure and confidence which th1 have maintained ever since the coal and railway controversies be came acute. But this was merely mani festation of an unchanging attitude. The movement of mark exchange indicated that Germany's financial problem was passing into a new phase. The day's decline to 7 hi one-hun-dredths of a cent, as compared with 84 the day before, with 14 c a week ago and with 2514 c in July, could not be ac curately described except as indicating an acute stage or currency panic. It was not a consequence of news from the commission's deliberations over the moratorium on reparations payments; there was no indication during the hours of business today aa to what theirde cision would be. There is no great use in assigning the blame for this reckoning which has overtaken the German currency: the practical question in finance being what will stop the progressive movement to ward virtual worthlcssness and where it can be made to stop. The present decline may be1 temporarily overdone; panickly liquidation usually has that effect in any market. But even the granting of a long moratorium ' on foreign payments could hardly reverse the movement now. unless accompanied by an effective home or foreign loan,' or both. Wall street was left as ignorant today . concerning the course of the railways' negoations as it had been yesterday. Un der other circumstances, this might -have caused misgivings as an indication of deadlock in the conference. It had no such effect on this occasion, obviously, for the reason that the failure of pre vious efforts at settlement has occurred along with prompt and immediate rejec tion of a compromise plan as inadmis sible. Prolongation of this latest discus sion was therefore regarded on the whole as indicating purpose on both sides of finding a basis of agreement. President Harding's message to con gress published during the afternoon had no effect on financial settlements. AMERICAN TELEPHONE STRONG Company Will 'Handle Note Maturity Without New Financing. J-?,..t'hicaeo Tribune" Leased Wire) NfiW YORK, Aug. 1 S. The acti vfty of American Telephone Telegraph today approximateing IO.O00 shares turnover was generally attributed to the recent statement by the company that it would handle its J3o.OOQ.00o note maturity on October 1, without any new financing. This was construed In Wall street as . v,aence ot the companvs claims as to a strong cash position. The stock moved only fractionally. As a result of the announcement of a readjustment of the financial structure of tho Bethlehem Steel corporation, to be made in connection with the merger with the Laokawanna steel .ompanv trading in the new stock started on the curb market on a "when issued" basis Under the plan there will be only two classes of stock outstanding, namely common and preferred, ail of which will have voting power against four classes or stocks now outstanding. The new common stock on a "when Issued" basis opened at S2 and immedi ately dropped to 18", and the preferred fter opening at 100 dropped to 9. Trading In both Issues was on a small scale. There was considerable arbitrage trading in the old stock in view of the fact that at current prices of Bethlehem Lackawanna will be, taken in at around fS5 a share and with Lackawanna sell ing around 80 professionals were selling Bethlehem and buying Lackawanna. Worthington Pump common attracted Attention in today's firm market by de .ettnlng from 504 to 45 and recovering to 4TA. at which level it scored a net loss of Zhi points. A tentative plan under which the Maxwell Motor corporation will take over title- to all properties of the Chalmers company is understood to have been agreed upon as a result of negotiations recently carried on by the former com pany and a committee representing the Chalmers holders. The terms of the plan, according to report, will give each holder of a $1000 note of the Chalmers company 10 shares of Maxwell Motors "A" stock and 10 shares of the B stock in addition to $B0 in cash. The holder of 10 shares of Chalmers preferred stock will receive six shares of Maxwell B and the holder of 30 shares of Chalmers com mon stock will receive one share of Maxwell B. do inc 6s 1SB0 St L. & S W 1st 5s . 1!SJ do con 4s 1132 do 1st 4s 1!V, Tex P..c 1st 5s '. . 20 In Pac 1st 4s 1!'47 do cv 4s 1!27 do ref 4S 2'ioS do t;s l!l-'S Un Tank 7s 1030 Wabash 1st 3s 1IB9 do 2d 5s lifts West Pac 5s 1S48 indust rials Allied Packers fis 1!39 Amn Agr t.'h 7's 1!41 Armi Sin 1st 5s 1147 Amn Tob 7s . 1023 Anaconda 6s A............. 1020 do 7s H 1020 Armour cv 7s 1030 do his 1039 Beaver Board 8a 133 Beth Steel 7s 1123 do eq 7s .. 1935 do ref 5s 1042 Cerro de Pasco 8s 1031 Chile conv 6s A 1932 do conv 7s . ... 1923 Col Graph os 1!I2," Copper Kxp 8s ............ 1923 do Ha 1924 do Ss Colo F & I fc'en 5s.. Colo lnd os Cuban Amn Sug 8s Cuban Cane cv 7s Distillers Sec cv 5s Diam Match 7 his . Dupont IhiB Knipire Gas Fuel 0s FisU 1925 1943 1934 1931 1930 1927 1935 1931 1924 8s 1941 den Elec deb 5s do deb tis Goodrich 7s Goodyear Ss Heinz 7s Hershey 7Us , 111 Steel deb his .. lnd Steel 5s . Int Agr 5s Int Marine CT 8s .. Kelly Spgfield 8s .. Kennecott 7s Lack Steel 5s do 1st 5s Libby McN Lis Lig & Myers 0s do is Loriilard 5s do is Midvaie 5s Morris & Co 74s ... Proc A Gamble 7s . . Republic I & St 5s.. Sears Roe 7s do Steel & Tube 7s Swift & Co 7s do 1952 1940 1923 1941 1 930" 1 930 1940 1952 1932 1941 1931 1931) 1923 1 950 1931 1951 1944 1951 1944 1936 1930 1923 . 1940 1922 1923 1951 1 925 9.;i l"n Drug 8s 1941 U S Rub 1st ref 5s do 1 V S Steel sf 5s Va Chem 5s V'a Car Chem 7t.s . West Klec 5a West i; T col Tr 5s West Union If-s Wilson 1st 6s Wilson cv 6s ........ West Klec 7s WestinghouFe 7s Puhiic utilities Am Lt & Tran 6s . Am Tel coll 4s do 5s Am Tel 6s Bell Ttl of Pa 7s . . B K T 5s '. Cal Gas uni 5s .... Cities Service 7s B . do C do D Int Met 4V.S Int K T ref 5s Laclede Gas 7s .... Mont Power 5s A Northwest Tel Pac Tel 5s . . Pac Gas 5s . Souwest Tel 7! Oil bonds Anglo Am 71s 192." Atlantic Ref 6is 1931 Galena S Oil 7s 193o Gulf Oil 7s 1933 Humble 7s 1923 Pan Am 7s 1930 Mex Pet cv Ss 1936 Sinclair 7V-B : 192.-. S O Cnl 7s 1931 do X Y 7s 1931 Tidewater Oil Bhi 1931 Vacuum Oil 7s 193ft I-oreisn Government Bonds- 1941 1!::n 963 1923 1932 1922 1 1MS i !): 1941 1 92S 1 !)2." 1931 1925 1929 1946 1925 1 945 1945 1 937 19015 1966 1 966 19,- 1 9C.6 1930 1943 75 82 79 SiOTi 96li U5 104 .104 S5!4 81 104 95 102, 102 101 S 104 ? 91 79 106 hi 104 96 123 H4 103Vi 105 101 7 102 104 91 78 li 106 hi , 89 14 46 hi 107 107 101 101 106 107 103 115 li4 103 93 100 .80. 95 10i 105 100 92 100 09 117 89 117 91 105 lol 94 loovi 101 101 102 103 111 90 loss 1 03 300 1"5 100 99 112 100 95 BONDS AT HIGH RECORDS RAILS AXD INDUSTRIALS STRONG DEMAND. IX Renewed Activity in Liberty Is sues at Advanced Quotations, foreign Loans Are Slow. a 1941 1937 1942 1925 Argentine 2d do G I 5s Belgium Ss Bergen Ss Berns Ss Christiania 8s . . . Copenhagen 5s French Cities 6s Italy 6 s A ... . . Swedish Govt "is 1923 1945 1940 1943 1945 1945 1944 19.34 1923 J 939 U S Mex 4s 1954 do ext 5s ; 1945 t'rugua.v Ext fls Zurich Ss 1945 Foreign government city bqnds Berlin 4s Greater Berlin 4s Hamburg 4s Bremen 4s Cologne 4s Dresden 4s .do 4s , 1 .... Dusseldorf 4s Frar.kfort 4a .". Leipzig 4s do 4s Munich 4s Stuttgart 4s . ,. E.-.en 4s Bremen 4 lis . .' Hamburg 4Vs Fre'ieh Internal 4s Co Victory 5s Belgian Restoration 5s . . . British 2rr consols Ital. Cons. War Loan 5't . Curb Bonds Am Tel & Tel 6s . do 6s Anaconda Copper 6s:....'. 00 7s Anglo-Am Oil 7s Armour & Co 7s. T.. . Beth Steel 7s Consol Textile 7s Copper Ex Assn 8s do Ss Galena Signal Oil 7s Grand Trunk Gs Humble Oil 7s So West Tel 7s Stand Oil N y 6s Vacuum Oil 7s 1917 1920 106 ios 106 93 99 116 1I)S 62 96 124 93 91 12 69 101 99 107 98 93 3 0.1 103 1 03 lh 104 100 101 , 31)5 3 03 TV 106 1 119 1"3 109 100 84 103 3 09 113 309 93 82 96 104 44 57 74 114 1 1 3 3 1 1 1 .3 1 1 1 ' 1 1 1 1 3 u, 50 60 TO Bid. Foreign Bonds. furnished by Overbe pany ot Portland: New York Bonds. Furnished by Jordan, Wentworth & Co. of Portland: Atch gen 4s 1995 A O L 4s 1952 do 7s 1930 B O golds 4s 1948 do con 4s cv 1933 do ref 5s 1995 Canada Southern 5s 1962 Canadian Ntl eq 7s.. 1935 Canadian Nor 6s :. 1946 do 7s 3940 Cent Pac 3st 4sa 3949 Ches & Ohio cv 4s 3930 do gen 4s 39! do cv 5s 3946 do con 5s 1939 C B & Q 111 div 4s HHi) O & West lnd 4s 3932 O G & W 4s 1939 C M & St P 4s 1925 dOCV 4S 1932 do deb 4s 1934 do gen 4s A . . . 19.S9 do cv 5s 2014 do g & r 4s A 2014 Chi N W gen 4s 1987 do 6s 3936 CO 7s 1930 C R I & P ref 4s 1034 Colo Sou rf ex 4s 1933 Colo Sou 4s 1929 Del & Hudson cv 5s 11133 do 7s 1930 D & R G cv 4s 1936 do ret 33 1933 Erie PL 4s 1996 do con 4s A 1953 do B 1933 do D ". . . 1033 Erie Pa C G 4s 1031 Gd Trunk eq 6s 1936 Gt Nor 4s 1961 do 7s 11V36 Gt Trunk 6s 1936 do 7s 1940 III Cent jt 3s 1963 do ref 4s 3935 K C Sou ref 5s 3 930 Keo & Dps M 1st 5s 1923 L s & M S 4s 1031 L & N 7s 19,10 do uni 4s 1940 M St P & S S M 6s 1946 M K & T 4s 1990 M P gen 4s 1M7J do ref 5s ...'... 1923 do 1026 N Y C deb 4s 3934 do con 4s ....v 3998 do ref imp 4s ......... 2013 do cv deb 6s 3933 do coll 7s 1930 N Y X H & H cv is 3 94S N O Tex & Mex --m 3935 W PL 4s 3 997 V P 6s 4. 2047 X P Gt Nor jt 6s 3936 O S L ref 4s . . . 929 Penna 6s io:t do gen 4s 193 dO 4S ; . . jiMil) do gen 5s lor.s do 7s 19.30 Penn R R 6s 1936 Reading gen 4s 1997 S A L 4s 3 950 do 5s 1040 do As A 1945 Sou Ry con fs 1994 So Pac cv 4s 1929 do ref 4s 1935 do sf term 4s 1930 S P conv 5s 3 934 St L S F PL 4s A 1950 do gen 5s ia.il do PL 5s B 1930 do gen 6s 1031 do adj 6a 1955 03 91 hi 107 86 87 89 100 111 3 32 112 , 90 91 89 99 103 91 77 60 84 U 73 67 79 77 67 89 311 10 92 93 9S 111 77 47 6S 33 53 57 9W 106 S9 111 103 112 90 90 92 H2 93 109 93 303 83 68 100 97 1 S3 89 S3 103 S2 . 73 S9 1 09 103 94 110 94 99 103 109 110 60 29 67 99 94 91 84 104 74 no 87 104 83 Belgian rest 5s... do prem 3s do 7s, ilo 6s .1 British 5s do 5s do 5s do vky do ref 4s Brazil hs do 7s U K 5s do 5s do 5s Bordeaux 6 Canadian 5s do o s do 5s do 5s do 5s Chinese 5s Chile 8s . 1919 1920 1945 3925 1922 1927 1929 1919 1019 1941 1952 1922 ' 1929 1937 1934 1926 1927 1920 1937 1931 1951 1941 French 4s J917 1920 1931 1941 1945 do 5s do 5s do 7s do 8s , German w 1 Berlin 4s Hamburg 4s do 4s Leipsig 4s do 5s Munich 4s do 5s Frankfort 4s Italian 5s Japanese 4s do 1st 4s ... do 2d 4s . ... . Norway Ss ...... Denmark 6s do 8s Russian 5s .... do 6s Sao Paulo 8s Swiss 5 s . , do 8s Dutch E lnd 6s.. do 6s 1918 1931 1925 1925 1940 1942 1945 J921 3919 1931! 1929 1940 1962 1947 53 36 . 1922 100 .. 1924 101 . 102 104 103 104 . 1935 104 . .... 93 . 1924 ,102 . 1923 104 106 107 100 103 . 1933 109 . 108 : Cooke com Bid. Asked. 6S 71 72 76 104 105 9 99 01 94 94 9S 93 9S 80 82 '77 80 101 noi 92 93 110 110 110 110 105 105 82 83 99 99 98 100 102 102 99 99 9S 100 52 34 103 1 03 49 50 70 . 73 ' 59- 60 98 98 100 100 1 2 . 1 ' . 1 , 2 1 ' 2 1 2 1 . 2 33 36 79 79 94 94 93 94 110 111 99 no 31 114 15 IS 13 14 100 10O 103 103 119 320 95 - 05 94 95 Foreign Exchange. Foreign exchange rates at the close of business yesterday, furnished by North western National bank of Portland. The amount quooted is the equivalent of the foreign unit in United States funds: Country.- Unit. Austria, kroner. Belgium, francs Buigaria, leva . . Cssecho-Slovakia. kronen Denmark, kronen England, pound sterling Finland, finmark France, francs Germany, marks Greece, drachmas Holland, guilders Hungary, kronen ....... Italy, lire Jugo-Siavia. kronen .... Norway, kroner Portugal. ' escudos ...... Roumanla. lei ..1 Serbia, dinara Spain, pesetas ......... Sweden, kroner Switzerland, francs China-Hongkong, local ci Shanghai, taeis Japan, yen Rate. . $ .O00O7 . .07880 . .OO740 . .03040 . .21800 . 4.49375 . .02220 . .08080 . .00150 . .03450 .39150 . .O0130 . .04600 . .00370 . .17520 . .07650 . .00850 . .01310 . .15760 . .26600 . .19180 . .58030 . .77730 . .48250 NEW YORK, Aug. 18. Renewed activ ity in liberty issues, combined with the creation of several new high records for the year in the railroad and indus trial lists, featured today's fairly active dealings in bonds on the New York stock exchange. Among the railroad issues which es tablished new top prices at gains averag ing about a point were Northern Pa cific 5s, Chesapeake & Ohio convertible 5s. Baltimore & Ohio 4s, St. Paul convertlbia 4s, St. Louis & Sa Fran cisco prior lien A's, Iron Mountain 4s, Pennsylvania general 5s, Missouri Pa cific general 4s and Chicago & Eastern Illinois os. The largest individual gain was made by Southern Pacific convertible 5s, whichj weiw UfcJ 7S liutu.s. In the industrial and public utility groups, new highs were made by Sinclair 7s, Goodrich 6s, Norm American Edison 6s, Brooklyn Union Gas 7s and Colorado Industrial 5s, the last of which was up 5 points. Other strong features were Cerro De Pasco 8s and American Telephone company collateral 4s. Liberty 3s -were particularly active, mere than four times as many being sold today as yesterday. They closed at a gain of more than half a cent. Most of the other issues showed nominal ad vances. Few changes of any importance took place in the iforeign group, in which there was iittle activity. The slow but steady absorption of stocks at constantly rising prices con tinued in today's stock market, which showed a tendency to break away from the restraint imposed by pending labor troubles. . Dealings, which totaled 650.000 shares, continued to be largely in the hands of professional operators, but accumulation by investment interests was reflected in the conspicuous strength of several high grade shares. More than a dozen new high records for the year were again re corded by active issues, but most of the gains were. of a nominal nature. President Harding's declaration to congress that the government would use all Its power to maintain transportation and the right of men to work was well received in the financial community, but it had no visible effect on prices. Rail shares held firm, the sharp advance in Chicago &. Eastern Illinois common and preferred, which were .up 3 and 2 points, respectively, being the outstand ing exception to the general fractional changes in prices of carrier shares. Trading in industrials featured today's session. United States Steel common pushing through 104 to the highest level In two years, with relatively conspicuous strenetb .being shown by equipments, sugars, domestic oils and a number of specialties. Average price levels of railroad and industrial shares are now at the highes levels of the year. Mexican and domestic oils continued to be influenced by reports of lessened Mexican production, the former showing pronounced weakness and the , latter ex hibiting marked strength. Mexican Pe troleum moved within comparatively narrow limits, but closed at a loss of one point, with corresponding heaviness being shown by the Mexican seaboard issues, and Pan-American, Standard Oi of New Jersey and California moved up 1 and 2 points, while substantial prog ress was noted in Tidewater, Superior Oil and Sinclair. Sugar shares recovered from the heavi ness imposed by the senate's action in raising the tariff duty, American Sugar pushing up 2 points to a new high record with sympathetic advances taking place in Cuba Cane. Punta Allegre and Manati. Copper shares, which have been play ing the role of wall flowers recently, became more active today, moderate ad vances being recorded oy Utah, Inspira tion, Kennecott, Butte & Superior and American Smelting & Refining. Call money opened at 3 per cent, but eased off to three in the final hour. Time money rates were unchanged with little activity being reported. The market for commercial paper also continued quiet. Foreign exchanges were irregular, early strength giving way to weakness the day progressed. Sterling was down 1 from yesterday's close, with only nominal declines being noted in the European rates. German marks con tinued to collapse, selling as low as 7 cents a hundred with little business be ing transacted. CLOSING STOCK QUOTATIONS. Furnished by the Overbeck & Cooke company of Portland: Houston Hupp M 2.300 77 70 "206 iM 109 500 41 41 '200 "39" 39 1.70O 1 1 100 4 4 600 8 8 1,000 113 112 "'300 'ihhi "is 900 64 64 2.300 18 17 2,300 9 56 MKM) "i4" ia 41 111 29 1 3T 8 112 116 15 64 Int A Corp com do pfd Interbttro ...... do pnr- Interst Callahan. Int Harv do pfd Int Merc Marine do pfd Tnt Nickel o Ho nM - 80 Invincible Oil .. 4,000 14 13 13 Island Oil 200' . Jewel Tea 17 K C Southern... 600 26 26 do pfd 57 Kelly-Sprgfld .. 900 45 44 45 Kennecott 4.000 37 36 3i Keystone Tire .. 700 8 J 8 8 Lack Steel 9,200 '81 80 80 Lee Tire 200 26 26 26 Lehigh Valley .. 4,500 68 61 b 1 Loriilard ,- 1"? Loew Theaters.. 400 17 17 3 L & N 200 134 134 133 Mex Seaboard ..16,400 20 19 19 Maxwell Mtr A. 1.000 60 59 59 do B 1,000 20 20 20 May Stores 700 130 127 130 Mex Pet 13,000 174 173 12 Miami 200 29 29 29 Mid States Oil.. 3.800 33 32 .12 . D.HOO 36 dO Oiva 1,000 18 18 18 500 43 43 43 . 1,000 73 72 73 . 5,200 24 23 23 1.000 23 22 1,400 57 57 WHEAT SELLING GENERAL AlARKET IS OX DOWN-GRADE THROUGHOUT SESSION. 37 Prospective Early Settlement of Kail Strike Construed as Bear ish. Export Trade Slack. Midvaie Steel M K & T w i. do pfd w i.. Mont Power .. Mont Ward . . Mo Pac , do nfd M St P & S S M . Marland Oil 2,200 Stock- Adams Exp Advance Rum. do pfd Agr Chem do pfd Ajax Rubber.... Alaska Gold.... Alaska Juneau.. Allied Chem Ail is-Chalmere .. do pfd Am Beet Sug. . . Am Bosch Am Can Co do pfd Am Car & Fdy. . do pfd Am Cot Oil do pfd Am Drug Synd.. Am H & L . Bales. High. Low. Bid. 300 800 600 300 100 600 200 100 4.400 900 "260 200 3.800 .77 23 60 42 68 11 1 78 55 .'47 42 58 700 175 '266 '28 900 100 e 14 76 22 9 41 68. 11 1 77 54 '47 41 57 173 '28' ' 6 14 76 59 41 68 11 1 78 54 99 47 . 41 57 109 173 123 27 51 6 31 do pfd . .., 71 Am Ice Am Intl Corp. . . Am Linseed do pfd Am Loco do pfd Am Saf Razor. . Am Ship & Com. . . . Am Smelter . 2,000 109 500 37 37 37 700 36 36 ' 36 100 56 56 55 400 120 119 119 100 118 118 118 200 7 7 6 ' 1 1 63 61 62 do pfd 200 99 99 99 Am Snuff 136 4,900 200 42 84 Am Steel Fdy. . . Am sugar do pfd ....... Am Sumatra.... Am Tel & Tel.. Am Tobaccoo. . . . do "B"... Am Wool do pfd Am W P pfd... Am Zinc Anaconda Assd Oil Atchison do pfd ....... Atl Coast Line.. Atl G & W -I.. Baldwin Loco... 4.500 125 do pfd- Balto A Ohio.. do pfd Barnsdell Corp. . Beth Steel B... B R T Butte C Z.. Butte & Sup Burns Bros Caddo OI! Calif Packing... Calif Pet do pfd .- Canadian Pac. . . Cen Leather. . . . Cerro de Pasco. . Con Textile Chandler Motor. Chgo & N W. . Chgo Gt W 41 41 S3 84 . . 1 ID 300 38 38 38 5.200 123 123 123 1.800 149 148 148 100 147 147 147 200 92 91 91 100 107 107 107 am -no iJH4 n 5,900 54 53 100 116 116 1.1O0 102 102 300 95 94 2110 114 114 30O 33 33 124 3,000 58 200 63 5,700 35 900 79 900 25 200 7 600 30 500 136 "SOO 82 3,000 62 Y.000 iis' ' 800 40 2.900 40 1,200 10 4,000 62 1,000 87 57 63 32 78 -24 7 29 17 53 115 102 93 114 33 125 113 57 63 32 78 23 7 30 135 135 10 82 82 61 61 B2 142 142 -iii 40 Martin & perry Nat Enamel 700 58 58 58 Nat Lead 300 103 102 102 Nevada Con 100 16 16 16 New Haven 1.200 31 31 31 Norfolk & W... 900 117 117 117 Nor Pac 1.800 83 83 83 Nova Scotia Stl.. 200 34 34 34 N Y Air Brake.. 700 75 74 74 N Y Central 1.500 98 98 98 Nor Amer 1.400 78 78 78 :Okla Prod Ref.. 2,100 3 2 2 1 Ontario Silver .. 6O0 6 6 6 Ontario & W 100 27 27 2t Otis Steel 400 11 11 13 Pacific Dev 100 6 6 6 Pac Gas & Elec. 4.30O 79 77 78 Punta Alegre .. 1.700 51 50 51 Pacific Oil 5.100 57 56 56 Pan Amn Pet... 9.600 76 74 75 do B ......... 1.200 71 70 70 Penna .T . . . 1.400 46 46 4 Peo Gas 700 92 92 92 Pere Marquette. 5,000 39 38 38 Pure Oil 3.0OO 30 30 30 Phillips Pete ... 8.500 49 48 49 Pierce Arrow ... 1,000 12 12 12 Pierce Oil 1.100 7 7 7 Pitts Coal 1,000 68 67 67 Pitts & West Va 1.000 40 40 40 Penn Sea Steel.. 1.600 7 7 7 Pressed Stl Car. 400 81 81 81 Pullman 500 123 123 122 Ray Cons 200 16 36 18 Reading 3.800. 78 77 77 Remington 300 36 36 36 Replogle Steel .. 1.5O0 33 33 33 Republic I & S. 2.700 74 73 .73 do pfd 100 93 93 93 Rep Motors 500 5 4 3 Royal Dutch Oil 7,400 55 54 55 Ry Steel Spring. 100 109 108 107 Stand Oil Kan 97 97 97 Sears Roebuck . 2.S00 -92 90 91 Shattuck Aria .. 400 9 9 9 Shell' T & T 000 SS 37 37 Sinclair 12,800 32 32 32 Stand Oil lnd... 115 113 115 do N J 3.200 185 182 185 Sloss Shef 800 48 47 , 47 Sou Pacific 3.400 93 92 92 Sou Ry 3,500 27 26 26 Stand Oil Ca. . . 7,000 108 107 108 31 52 126 St L & S F. . . . Stromberg Carb. 30 52 126 700 .31 3 00 52 Studebaker 7.500 127 Swift & Co 105 Ten Cop & Chem 1.000 10 10 30 Texas Oil 11,200 48 Texas Pac 1,100 32 Tex Pac C & O.. 1.100 26 Tob Products ... 2,000 56 Tran Contl Oil.. 2.700 14 1.60O 20 1,600 147 300 39 1,600 83 1,500 9 Union Oil Del X'nion Pac United Alloy . . . United Drug . . . U Food Prod United Fruit Union B & P. . . . Uni Retail Stores U S lnd Alcohol. U S Rub do 1st pfd.... U S Smelting . .. U S Steel do pfd . , Utah Copper ... Va Chem do pfd Vanadium Steel. Vlvandou Wabash 1.300 do A pfd 3,000 do B pfd 1. Wells Fargo Western Pac . . . do pfd West Union .... Westinghse A B do E & M. . . West Md White Motors . . Willys-Overland do pfd Wilson acking . . Wis Contral .... Woolworth ..... Worth Pump W &. L E . . . White Oil . . White Eagle 2,500 70 3.800 67 . 1,000 58 100 106 100 41 4,400 104 200 120 1,800 67 700 30 700 73 4.300 50 700 1 S 400 60 100 110 3 00 94 3.300 2,800 " 500 200 400 1,500 400 CHICAGO. Aug. 18. Timely showers and cooler temperatures dispelling fear of damage to corn led to lower prices to day for all grain. Wheat closed unset- tied at 2"i to 2ac net decline, witn Sep tember $1.00 to $J-O0, and December $1.01 to $1.01. Corn lost 2 to 2c. and oats to lor: In provision, the outcome varied from a decline of 12c to a rise of 2c. Wheat was on the down grade from the start. The breaking of the drouth and the passing of the hot wave led to general selling, especially as Liverpool quotations failed to reflect yesterday's advance here. Prospective quick settle ment of the rail strike was also generally construed as bearish, because likely to lead to increased receipts. Besides, some notice was taken of a forecast that the wheat crop in three western Canadian 57 provinces would be 27,1100.000 bushels 65 larger than the last government estimate. 38 '37 37 I Little power to rally was shown in the wheat market, final prices being near the lowest of the day. The -only buying of consequence was attributed to Minne apolis mills, ffhey took fairly good quan tities, December delivery. On the other hand, European continental finances were not improved and export purchasing here was confined to 300,000 bushels. Further more, messages from the seaboard said Greek acceptances, which it ' had been supposed would be liberal, were relatively small. Corn fields in Nebraska, Iowa, Illinois and Indiana all received more or less rain and prices here broke sharply. Rural offerings of corn to arrive were much decreased as values fell. Oats were dull and merely followed corn. Provisions averaged lower with grain and hogs. The Chicago grain letter received yes terday by the Overbeckt & Cooke Co. of Portland follows: - ! Wheat The action of the market to day was the reverse of yesterday. - Dis appointing cables caused a lower open ing and downward tendency continued throughout the session, with only occa sional and unimportant rallies, which brought out liquidation by longs. Pros pects of an early settlement of -the rail strike had a bearish influence.. . Sales of 500,000 bushels of wheat were reported made to exporters out of Chicago, but the seaboard reported very little : fresh demand, and quoted bids lower. Cash markets generally ruled relatively firm with millers good buyers. There is noth ing tangible at the moment upon which tn base hopes of an important price movement in either' direction, and we believe it will be well to adopt a trad ing position with purchases on declines preferable. . Corn Bullish enthusiasm, which so pronounced at the close yesterday, was checked early today when rains were re ported over the important surplus pro ducing states. The. moisture was scat tered and probably insufficient in most cases, but the fact that indications pointed to breaking up of the heat wave made the trade skeptical of an important crop scare. Other factors were given lit tie consideration. Country selling over night was rather liberal and hedging sales weakened the September. . Irre spective of the crop outlook we believe this markot is at a level where the short side is likely to prove unprofitable, a stroijqr cash situation might develop as a result or- rapidly decreasing stocks. Oats Declined with other grains and on seliin? by northwestern and south western intermits, presumably in the way of hedging. Receipts were only fair and .the cash market steady as compared with the futures. Rye Reflected the decline in wheat in a moderate way, with continued buy ing by export interests serving to hold prices relatively steady. The volume of hedging pressure was moderate. Cast rye was lower with the futures. Leading futures ranged as follows: . WHEAT. , Open. High. Low. Close. Sept. .$ 1.02 $ 1.02 $ 1.00 $ 1.00 Dec... 1.04 1.04 1.01 1.01 May... 1.09 1.09 1.06 1.06 CORN Sept... .61 .61 .59 .39 Dec 55 .55 .53 .33 May... .58 .59 .56 .57 48 31 25 56 14 20 147" 38 81 8 48 31 25 56 34 19 146 38 31 8 500 149 148 148 700 35 34 34 69 69 63 6n 58 57 106 103 41 41 302 303 3 20 119 66 30 71 49 13 34 13 34 62 13' 18 60 110 94 61 12 40 40 30 14 Oil 400 26 45 34 25 6i 30 71 49 11 13 34 23 80 18 SQ 109 94 62 18 48 6 40 45 30 180 ! 47 34 7 26 Sept.. Dec. . . May. . Sept. Oct. . .31 .34 .37 10.57 30.65 OATS. .31 .34 .37 LARD. 3 0.80 10.67 .30 .33 .36 10.50 10.62 .30 .33 .36 10 52 10.62 Liberty Bond Quotations. Liberty bond and victory note Quota tions furnished by the Overbeck & Cooke company of Portland: Closing Open. High. Low. hid. Liberty. 3s... 100.56 101.25 100.52 101.20 Liberty, 1st 4s. . 100.60 Liberty. 2d 4s.. 100.40 100.40 100.3S 100 40 Liberty 1st 4c 100.94 101.10 100.94 100.04 Liberty 2d 4s 100.50 300-.52 1 00.44 100.46 Liberty. 3d 4 s 100.50 100.52 100.44 100.46 Liberty 4th 4s 1.01.10 101.10 101.02 101.06 Victory 4s. "22 100.34 10038 100.32 100.36 Victory, 4s, '23 100.72 100.78 100.68 100.78 Money, Silver. Etc. NEW YORK. Aug. 18. Call money. firmer. High. 3: low. 3: ruling rate. 3; closing bid, 3; offered at 3 1-3; last loan, d; call loans against accept ances, 3. Time loans, steady: mixed collateral. 60 and 90 days, 44; four and six months, 4. Prime commercial paper, 44. Foreign bar silver, 69. Mexican dollars, 53. LONDON. Aug. 18 Bar silver. 34 d per ounce. Money. 1 per cent; discount rates, snort ana tnree-months bins, 2 per cent. Mining Stocks at Boston. Mining stock quotations at Boston fur nished by the Overbeck & Cooke com pany of Portland: 39 9 n ec do lfd Chili Cop Chino C M St P do pfd Coco Cola C & O Colo F & I. . . . Colo Southern Colo Gas & E: Columbia Graph. Con Gas Cons Cigars . . do pfd Contl Can . . . Cities-Rankers Corn Prod . . . do Pfd Cosden Oil . . . C R I P do 'A pfd do "B" pfd Crucible do pfd ... . Cuba Cane . . . do pfd 1.900 SOO 2.800 3.400 4,200 2.700 1.100 200 1.400 3 0ft 22 30 32 u 49 73 77 31 49 99 3 3.600 123 100 37 3.200 115 fl4 7O0 1,900 10O 100 2.400 . 30O SIM) 8 00 45 45 96 85 93 94 15 89 39 10 62 86 8 21 22 29 32. 49 72 76 31 49 98 3 123 123 31 36 67 77 19 115 117 44 45 96 84 92 93 lfi 38 -'6 22 29' 31 49 72 76 30 49 98 3 44 44 96 83 92 94 15 38 18. Foreign ex Britain, demand 60-day bills on NEW YORK. Aug. change easy. Great $4.47. cables $4,475 banks. $4.45. France, demand 7 fl.tii cables 7.96. Italy, demand 4 52, cables 4.32. Belgium, demand 7.35, cables 7 56. Germany," demand .07, cables .07. Holland, demand 38.94, .cables 39 00. Norway, demand 17 40. Sweden, demand 26.50. Denmark, demand 21.60.' Switzerland, demand 19.08. Spain, de mand 15.64. Greece, demand 3.20. Po land, demand 0.138. Czecho-Siovakia. demand 2.89. Argentina, demand 36 50 Brazil, demand 13.45. Montreal. 89 27-32. Cuban Amn Sug, 4,400 2726 Del & Hudson.. 300 128 121 128 Dome Mines ... 1,000 34 34 34 Dal & Lack .... 200 132 131 131 uavison - nem . . j.wki 4W 40 49 Endicott Johnson 000 84 84 Erie 1.500 18 17 do 1st pfd ... 1,300 26 26 Elec Str Bty... 1.100 49 48 Famous Play. . 4,300 ' 89 86 Fed. M. oc smelt do pfd 300 Fisk Tire 300 Gen Cigars .... IOO Gen Elec . . Gen Motor . do 6 Gen. Asphalt . . 4.400 Goodrich 900, Glidden Paint . . 200 Granby 3O0 Great Nor Ore .12.600 do pfd 3,600 Greene Cananea. 300 Gulf S Steel.... 1,700 Gien Aides It 76 58 32 76 93 17 26 48 88 12 53 12 I 6 500 182 180 19; 7.100 4 18 13 Ariz Comm Adventure Ahmeek Bingham Mns Cal & Ariz Calumet & Hecia Centennial Copper Range Davis Daly . ." East Butte Franklin Mining Hancock Helvetia siand Creek do pfd Keweenaw Kerr Lake ............ La Salle Mohawk ... May-Old Colony North Butte Nipissing North Lake . . . . Old Dominion Copper.. Osceola Mining Ojibway Quincy Mining Pond Creek Isle Royal Supp Boston United Shoe Machine do pfd South Utah Superior Copper Trinity Copper Tuolumne Utah Con U S Mining Ventura Victoria . Wyandot Shannon Bid. Asked. 5 37 ' 14 32 42 90 32 84 84 36 1 32 41 89 33 83 80 64 36 14 31 l 90 32 83 65 9 80 64 15 61 ' 297 10 43 8 13 2 2 1 110 95 3 i 1 2 4 33 8 50 26 37 3 43 22 24 1' 41 26 10 4 2 73 3 40 30 2 60 95 Standard Oil Stocks. Standard Oil stocks furnished by the Overbeck i Cooke company of Portland: Bid. Ask. Anrio Borne Scrysmer ......... Buckeye , Cheesebrough do pfd Continental Crescent Cumberland Eureka Galena common . .' Galena Old pfd Galena New pfd .......... Illinois Pipe Indiana Pipe National Transit New York Transit Northern Pipe Ohio Oil International Petroleum .. Pennsylvania Mex Prairie Oil Prairie pipe ............. Solar Refining ........... Southern Pipe ........... South Penn Oil S W Penn Oil . '. S O Indiana S O Kansas S O Kentucky S O New York ,. S O Ohio do pfd Swan A Finch Vacuum Washington S O Nebraska Imperial Oil ......... 8 . SO . 63 . 14 , 60 .294 . 9 - 43 - 7 10 2 .' 2 . 14 .109 . 94 2 . 3 1 . 3 . 4 12 . 6 . 30 . 23 . 37 . 2 . 42 . 21 . 23, 1 . 40 . 26 5 4 , .70 2 . 40 . 30 1 . 1' . CO . 80 19 19 400 415 98 99 190 200 108 111 137 142 34 . 35 135 140 90 92 - 50 52 108 112 101 105 164 166 90 92 26 27 163 167 99 161 283 288 22 22 26 29 570 580 248 252 330 340 94 96 210 215 60 62 113 114 620 540 97 98 455 460 455 460 117 119 32 35 453 458 22 27 175 . 3 83 113 115 SHORT RIBS. Sept... ..... 9.80 Oct .... 9.40 Cash prices were as follows: 1 Wheat No. 2 red. $1.03 1.03 ; No nara, i.u4 l.oa. Corn No. 2 mixed, 6263c; No. yellow, 6364o. Oats No. 2 white, 32 34c; No. S white, 31&33c. Rye No. 2. 70(?71c. . -Barley, 51(57c. Timothy seed. $4.255.15. Clover seed. $1216. Pork, nominal. Ribs. $9.62010.75. Lard, $10.60. Grain Trade Notes. (By Chicago Tribune Leased Wire.) CHICAGO. Aug. 18. Broomhall's agent estimates the new Argentine wheat acre age at 12 per cent larger than last year and oats o per cent larger. Four northwestern states have promise of a spring wheat crop of 220,- 000.000 bushels as shown, by returns to the Modern Miller. The government Au gust report suggested 206,000,000 bushel Harvesting is practically completed Much plowing is being done in vthe south west. F. F. Thompson,' who is out for J. E. Bennett & Co., wired from Quincy, 111 that com showed a perfect condition i: central Illinois. In counties bordering the Mississippi river, both in Illinois and Missouri, the crop is being damaged ma terially by hot, dry weather. Wheat and oats harvest$is in progess all the way from Saskatoon, ' wired Le Count to. Stein, Alsteln & Co.", from Win nipeg. In some districts in Manitoba harvest is nearly completed. Operators who have studied the Cana dian crop conditions predict that there will be record marketing of wheat this fall and early winter, weather permit ting. During September and October last year Canadian farmers marketed 93,000, 000 bushels. Rains in the west put a damper on buying of December corn and brought realizing sales. Those long on corn and short on wheat found their spreading working all right at the wheat end but wrong as to corn. One hundred country elevators In Iowa, Nebraska and Kansas, along the Rock Island railroad, are full of grain and are closed awaiting cars. ,-Elevators on other roads also are mostly filled and boxcars are scarce. Western railroads are fur nishlng 75 to 90 per cent of their or ders for boxcars. Lake rates on wheat and corn, Chicago to Buffalo, are 2c per bushel and ship pers intimate that they might secure a shading of that rate. Readjustment has been under way be tween the Liverpool and the Chicago wheat markets for several days, which accounts for the persistent weakness in the former. It Is figured that on ac count of a break of 23 cents per bushel In ocean freights, a decline of 45 cents per bushel in premiums and an advance equal to 1 cents per bushel in ex change that United Kingdom buyers can secure hard winters equal to 7 cents per bushel cheaper than a short while ago. Liverpool handlers who had grain bought at the higher basis have been liquidating and until this is completed a very slow demand is expected. Primary Receipts. CHICAGO, Aug. 18. Primary receipts. Wheat, 1.747,000 bushels versus 2,194, 000 bushels." Corn, .816,000 bushels ver sus 1.098.000 bushels. Oats, 1,036,000 bushels versus 1,227,000 bushels. Ship ments Wheat, 1,329.000 bushels, versus 2,327,000 Bushels, corn, 774,000 bushel versus 1, 25S.0O0 bushels. Oats.i 472,000 bushels versus 880,000 bushels. Clear ances Wheat,, 457.000 bushels. Corn, 326.000 bushels. Oats, 23,000 "bushels. Flour, 10,000 barrels; also 112,000 bush els bonded wheat. 1,329,000 bushels versus 2,327,000 bush els. Corn, 774,000 bushels versus 1,259,000 bushels. Oats. 472,000 bushels versus 880,000 bushels. Clearances Wheat, 457, 000 bushels. Corn, 326,000 bushels. Oats, 23.000 bushels. Flour, 10,000 barrels; also 112,000 bushels bonded wheat. Winnipeg; Grain Market. WINNIPEG, Aug. 18. Cash, wheat No. 1 northern. $1.17; No. 2, $1.11; No. 3, $1.06; No. 4, 92c; No. 5, 78c; No. 6, 69c; feed, 68c; track, $1.06. Oats. No. 2 white, 43c; No. 3, 39 c; No. 1, ex-feed. 39c; No. 1 feed, 86c; No. 2, 34c; track, 33c, Barley, No. 3, 65c; Portlands building short age largest in United States Nation-wide study of conditions reveals facts of vital importance to Portland property owners PORTLAND'S accumulated building shortage since 1914 is greater than that of any other of the 32 largest cities in the United States, according to a nation-wide study made by the Bankers' Economic Service of New York City. Accumulated Building Shortage in 32 Largest United States Cities. City Per Cent Shortage Relative . Amount Cleveland (surplus). Baltimore . Detroit St. Paul Boston Columbus Cincinnati Pittsburgh Minneapolis . '. . .' . . . Buffalo Philadelphia Omaha New Orleans Milwaukee Indianapolis . ...... Louisville . Chicago. New York. Washington, Newark Richmond Atlanta Kansas City, Mo. . . Rochester -San Francisco Seattle Oakland Memphis ......... St. Louis Los Angeles Denver Portland, Oregon. 9.6 5.7 6.8 .DC. 7. 13. 13 14. 16. 18. .18.8 20.7 .....21.6 21V 221 23.4 2. 6 26.2 26.5 27.9 28.4 30.0 .....30.5 30.8 32.2 32.3 33.1 34.2 35.6 35.7 36.1 38.8 45.6 $25,358,000 8, ZQ 1,000 26.769,000 10.358.000 31,739.000 9,065,000 18,114.000 31.732.000 36.691,000 29,163,000 115.178.000 '- 19.006.000 12.205.000 - 40,084,000 . 24.496,000 " 16,53 5,000 355,101,000 809,299,000 58.238,000 53,659.000 23,523.000 30,740,000 57,526,000 48,816,000 ' 109,432,000 60,725,000 39,287.000 28.286,000 97,891.000 149,266,000 41,093.000 106,697,000 Fromf 1914 to 1921 this city has accumulated a gross shortage of 45.6 per cent. The relative amount of this deficiency is the huge sum of $106,697,000! In these figures, we believe, Port land property owners will find food for thought. They graphically fore cast coming events. Our knowledge of these events makes our service valuable to our clients. We are prepared to plan, finance, and carry out the transformation of idle land into a thriving sub division or convert non-productive city ' property into a producer of profits. Strong & MacNaughton -gpL. CORBETT BUILDING vZpL. PORLTAND, OREGON IJgM Investment and Property Man agers for Estates and Individuals No. 4. 51c; feed, 47c; track, 5394c. Flax No. 1, $2.22. Futures vvneat, . Oct., fl.ux 's ; iiec. 99c; May, $1.04. Minneapolis Grain Market. Furnished by the McCaul-Dinsmore company of Portland: Wheat No. 1. darK northern, crooa to fancy, to arrive, $1.141.22; No. 1 dark northern, $1.141.22; to arrive, $1.22; No. 1 northern. $1.08(5)1.14: to arrive. $1.07; No. 2 dark northern, $1.11 1.19 : No.v2 northern, Sl.oo xl l.ll ; iNO. a nam northern, $1.05l.lo; No. 3 northern, S1.01(&1.08: No. 1 dark hard Montana. Rood to fancy, to arrive. $l.i31.19; No. 1 dark hard Montana, $1.121.21; to ar rive, $1.11; No. 1 hard Montana, $1.01 i 1.06; No. 1 hard Minnesota and South Dakota, $1.101.11; to arrive. $1.09(R 1.10: No. 1 hard Minnesota and South Dakota. $1.011.02; to arrive, 11.02: fancy No. 1 amber durum, $1.021.05; to arrive. 95c(a $l: No. 1 amber durum. 91Ca 95c; to arrive, 88c; No. 1 durum, 83(5) ; 90c: to arrive, 81c; fancy, No. 2 amber j durum, $1(3)1.03; No. 2 amber durum, 88 j 93c: No. 2 durum, 80(9870. ' Corn No. 2 yellow, 5758c; to ar rive. r6c; No. 3 yellow, 56 57c; to ar rive. 55c. Oats No. 2 white, 2730c; No. 3 white. 2729c: to arrive. 27c. Barley Choice fancy, 47 49c; medium good, 43'a46C. Rye No. 2, 66 hi 66 c ; to arrive, 64 34 e Flax No. 1, $2.4014: No. 2, $2,4214; to arrive, $2.29 Wheat futures September, $1.04; December, $1.04; May, $1.08. Cash. Grain3Iarkets. Furnished by Jodan-Wentworth & Co., Portland. HEDGING SALES WEIGHT CHICAGO WHEAT , DROPS UN DER DOLLAR MARK. Movement From Winter Grain Belt Has Passetf Crest Pub lie Participation Limited. ST. LOUIS, Aug. 18. Wheat, No. 2 rod, $1.091.11; No.' 3 red, $1.05( 1.07 hi: Nc 2 hard, $1.02; No.. 3 hard, $1; r62i4c; No. 2 .No. 2 mixed. 61c. r-nr, M 9 v.Mnw (11 white, aaf&Aic. OMAHA, Aug. 18. Wheat, No. 2 hard, 95c$l; No. 3 hard. 93 98c. Corn No. 2, yellow, 54mg55!ic. .. Seattle Grain Market. SEATTLE, Aug. 18. Wheat, hard white, soft white, western white, hard red winter, eoft red winter, northern spring, $1.05; western red, $1.04; Big Bend bluestem, $1.18. Hay and feed unchanged. San Francisco Grain Market. SAN FRANCISCO, Aug. 18. Wheat, milling, $1.751.80; feed, $1.75 1.80. Barley Feed, $1.1714 & 1.20. Hay Unchanged. FOREIGN BUYING LIGHT EUROPE UXABLE TO PUR CHASE NEEDED SUPPLIES. in Arrangements May Be Made Near Future to Finance Wheat Traded The weekly wheat review of Logan & Bryan of Chicago, received yesterday by Overbeck & Cooke company of Portland, follows: The market the past week was larsreH repetition of that for several weeks previous a question of absorbing: new crop hedg-es. This burden was left mainly to speculators, although there was some buying by millers from time to time against flour sales, this' trade showing a steady improvement. . As far as exporters were concerned their buying was of small consequence, the bulk of the business reported from day to day being against old sales. This branch of the trade has been a distinct disappointment, I as foreigners at this particular tlmef oi tne year should be taking large quantities of our wheat, from day to day. The explanation Is the disrupted financial situation of conti nental Europe; In other words, it is not question of what they require, but what they can buy. It is reasonable to assume that in the near future financial arrangements will be made for th neces sary purchases. Harvesting ana tnresning or serins wheat is progressing favorably on both sides of the international line and yields are reported very satisfactory. An interesting leature or the spring wheat outturn thi year Is the large per centage of durum. The last detailed government report placed the production of bread wheat in Montana, Minnesota, North and South Dakota at 128,070,000 bushels and of durum 79,572,000 bushels, i Later In the season this may be quite a ! factor In government spring wheat j values. Canada has undoubtedly raised a bumper crop, - Peter S. Goodman, in his weekly wheat review received by Jordan. Wentworth & Co. of Portland, says: Prices for wheat touched a new low with the September dropping under $1. The new wheat has been coming in fair quantities, but in the winter wheat region the crest o the movement has passed. SDrine wheat movement Is gath ering some force and should run at in creasing volume for tne next two weens, The exDort trade has been fairly gooa but no unusual effort to purchase for distant delivery. Heaw rains in Argentina were ported and this is equivalent to early March rains In our winter wheat Deit, The oublic participation has not been of a large volume and the weight of hedging sales by millers and dealers has been the prime cause or tne aeenne. Some speculative selling has accompa nied this movement. As the supplies from the winter re gion drop off there will be increased buying on the taking off of hedges and some of this class of buying- was re sponsible for the upturn at the end of the week. As the lowest prices in years of com fortable crops are usually made during the latter part of August and first part of September, the present market should be a purchase on tne aecunes. SAN FRANCISCO PRODUCE MARKEl Prices Current on Vegetables, Fresh , Fruits. Etc., at Bay City. SAN" FRANCISCO, Aug. 18. (State Division of Markets.) rryers. 32 35c broilers, 28ffp32c; roosters, young, 88 42c: old. 14SlSc: hens, 14 32c; ducks. 18()20c; turkeys, live, 3255cj dressed, nominal ; hares, lb., 13 15c ; squabs. doz., $333.50; jackrabblts, do., 2ia 2.50. Fruitsi Pears, Bartlett. box, $12; ap ples, 3 to 4H-tier, $1.252.25; canta loupes, standard crate, 85c $1.25;oranges, Valencias. S$11: lemons, $4&6.50; nec tarines, crate, $I1.50; grapefruit, $6 7.50; strawberries, drawer, 45q$3dc; rasp berries, drawer, 60c only; biacKberries, drawer, 202ac; loganberries, drawer, 60c only; - avocadoes, dozen, $47; figs, double layer, box, J1.25(g1.50; peaches, crate, 40?75c; plums, crate, 75c $1.25: grapes, $11.75 crate; apricots. nominal; Persian melons, rate, $1.(5'32 new green apples, lug box, 75c $1.25 watermelons 1 cent and less. Vegetables Beans, pound 2?pic; car rots, sack, 7Sc!g1$l; . celery, crate, $2.50 3; cucumbecs, lug, 40 5c; eggplant, ?ound. 34c; lettuce, crate, $11.25; nions, Stockton red, 100 pounds, $1.25)$ 1.40; yellow, 100 lbs., $1.401.65; green, $1.25 1.50; peas, pound, nominal ; bell peppers, lug. 75c$125; new potatoes, yz 2c; sweets, 4 5c; rhubarb, box, $1 1.25; summer squash, lug, 50 75c ; spinach, pound, 34c; tomatoes, lug 40c $1; turnips, sack, 75c$l; green corn, dozen, 9 13c ; beets sack, $1 1-25 ; parsley, dozen bunches, 30c ; rad ishes, dozen bunches 30c. Receipts: Flour, 83 quarter sacks; wheat. 830 centals; barley, 200 centals; corn 50 sacks; potatoes. 2413 sacks; onions, 2225 sacks; hay, 145 tons; hides, 971; lemons and oranges,- 450 boxes. PROFIT TAKING WEAKENS COTTON Net Losses at Close are Six to Fifteen Points. (By Chicago Tribune Leased "Wire.) NEW YORK, Aug. 18. Early ad vances in the cotton futures market were canceled today by profit taking and the list closed slightly under the previous final prices. The buying movement be gun Thursday continued in force in the morning and lifted the market about 60 points in the first two hours. Sentiment was Influenced to not a little extent by strength of securities. In the early afternoon, under force of realizing sales, the list sagged off from the top, the advance seemingly having been too. rapid. By the start of the last hour prices were pack within a few points of Thursday's final bids, and later slipped off steadily, but without showing weakness. Net losses ranged from six to 15 points. The closing tone was fairly steady. Spot was quiet, ten points decline 21.90c for middling upland. Southern markets were: Calveston 21.75c, unchanged; New Orleans 21.50c, 25 points advance; Savannah 21. 25c, un changed; Memphis 22c 00 points ad vance; Houston, 21.50c, unchanged; Lit tle Rock. 20.75c, unchanged. NEW YORK, Aug. 18. Cotton future opened firm : October. 22.00c; recmbr, 22.05c; January, 21.00c; March, 2102o; May, 21.80c. Futures closed barely steady: October 21.64c; December. 21.63c: January, 21.47c; March, 21.48c: May, 21.40c. CHANGE FOR BETTER IS NOTED Recovery from Strike Cnnettlement Like ly to Be Blow. NEW YORK, Aug. 18. Bradstre.t tomorrow will sav: While the outlook for the future, bota of trade and industry, has changed for the better, owing to Improved strike set tlement prospects, there is slight reflec tion, except in the matter of . more cheerful tone, to be had in the weks reports as to current trade and industry. The as yet partial character of the coal settlement and the uncertainty that still lurks in the railroad strike Is partly responsible for this. But in many ltn the Improvement bids fair to be slow, though perhaps not so slow as was the growth of the species of slow business paralysis that has made Its effects in creasingly visible since the railway strike began. In this direction, indeed, the Installation of the eyatem of coal priorities may prove hurtful to some leading industries, notably Iron and steel, which ive' suffered most from the fuel shortage, but which are low on the priority list, while helpful to the rail ways and household consumers of ooaU whose needs are likely to become urgent very shortly. Weekly bank clearings were $3,3Str 993,000. . QUOTATIONS ON DALRT PRODUCE Current Market Ruling on Batter. Cheesa and Eggs. SAN FRANCISCO. Aug. 18. (V: S. Bureau of Markets.) Butter Extras, 434c; firsts, 40c. J-itrKs Extras. 34 a: extra firsts, S4o; extra pullets, 27c Chaese California flat fancy, 22c. NEW YORK, Aug. 18. Butter, firm; creamery, higher than extras, 30 37c; extras firsts, 32(&35c. Eggs, easier. Cheese, steady. CHICAGO, Aug. 18. Butter, higher. Creamery extras. 34Hc; firsts, 29Hfg31c; extra firsts. 3133J4c; seconds. 27tj-28c; standards, 34 He. Eggs Higher; receipts. 9455 as : firsts. 22H23c; ordinary firsts. 20g-21c; miscellaneous, 21 22c; storage packed firsts, 23V4 24c. SEATTLE. Aug. 18. Ecgs, select ranch, 30c; mixed colors, 28c; pullets, . 22g23c. Butter unchanged. Dried Fruit at New York. NEW YORK. Aug. 18. Evaporated spr pies dull and easy. Prunes qulet Peaches Now, what we would like to know is, if "the world is broke," why are secur ities worth more now than at any time during the last five years? Can you answer this ques tion ? Perhaps the world is not broke after all. Freeman, Smith & Camp Co.