THE "MORNING- OREGONIAN, TUESDAY, AUGUST 22, 1923
SI
LIVERPOOL BREAK
SEiS WHEAT DOWN
Cereal Sells at New Low
Figure in Chicago.
PRICES RALLY AT CLOSE
Wilson 1st 6a 1941 10154
do cv (la 1928 96 Vi
West Elec 7a 1925 106
Westinghouse 7a 1931 109
Public Utilities
Ainu l.t & Tran 6s 1925 106
Amn Tel coll 5a 1948 99
Amn Tel 6s 1925 lltti
Bell Tel of Pa 7a 1945 108j
B K T 5s .'. 1945 62
t'al Gas uni 5s 1937 Wit
Cities Service 7s B 1966 124
do 7s C 1966 93 i
do 7a D 1066 9H
Int. Met 44s 1956 13
Int R T ref 5s 1966 69
1-aclede Gai 7a 193U W14
Corn and Oats Score Gain at Fin
ish, AVhile Rye Declines;
Movement Still Limited.
BY CHARLES D. MICHAELS. '
(By Chicago Tribune Leased Wire.)
CHICAGO, Aug. 21. A collapse in the
Liverpool wheat market, where prices
were 34 5 lid a bushel lower on con
tinental pressure, carried values here off
lgliic early to a new low for the sea
son. On the decline there was a Rood
class of buying, both by shorts and com
mission houses. The close was within a
fraction of the top, with net gains of
l'i'a l"4c. Corn. after breaking lc.
closed 37c higher, while oats were
hi?c higher. Rye wae off Hc.
The possibility that Liverpool had com
pleted its readjustment as compared
with the Chicago market and a revival
in the export demand had more or less
effect on sentiment. Commission houses
had a large number of resting orders to
buy at $1 for December, not all of which
were filled. Seaboard interests took the
September delivery and the market acted
somewhat over-sold after values started
upward.
Routine developments attracted little
attention. Sentiment was not as bear
ish as of late, despite the pronounced
weakness abroad, and there was a belief
that a rally was overdue. Movement of
new grain to terminals is limited only
by the ability of the railroads to furnish
cars.
Reports of heavy damage In parts of
South Dakota, Nebraska, Kansas, Illi
nois, Indiana and Ohio, combined with
the rally in wheat, led to a stronger
market in com. Shorts found offerings
light when they tried to cover. The
finish was about the top after a range
of 11C. In some sections no amount
of moisture can repair the damage al
ready done. The forecast for unsettled
weather over part of the corn belt, with
good rains in Iowa and parts of Illi
nois, was ignored.
Trade in oats was mainly local, but,
with corn strong, there was no material
pressure, and the finish was at the top.
Country offerings are not increasing
rapidly.
Hedging pressure had a depressing ef
fect on rye. which sold at a new low on
the crop. Houses with seaboard connec
tions bought and there were claims of 1
good export demand, although some ryi
was offered for resale at 3c over Sep
tember, c. i. f. Buffalo. The two north
western markets had 361 cars.
Mont Power 5s A 1943
Northwest Tel 7a 1941
Pac Tel 5a 1937
Pac Gas 5a . 1942
Souwest Tel 7a ............ 1925
Oil Bonds
Anglo Amn 7Hs ........... 1925
Atlantic Ref 64a 1931
Galena S Oil 7s 1930
Gulf Oil 7s 1933
Humble 7s 1923
Pan Amn 7s 1930
Mex Pet cv Ss 1936
Sinclair 7 Ha 1925
S O Cal 7s 1931
S O N Y 7s 1931
Tidewater Oil 614a 1931
Vacuum Oil 7s 1936
Foreign Government
Argentine 7s ............... 1927
Belgium 7s .............. 1945
do 8s 1941
Bolivia 8s ................. 1947
Brazil 8s 1941
do 7s 1952
Canada 5s 1931
do l52
Chile 8 1946
C aecho-Slovak 8s 1951
Denmark 6s 1942
Mexico External 5s 1954
do 5s 1954
Netherlands 6s 1972
Paris-Lyon-Mdtrn 6s . 1958
Seine 7s 1942
Foreign Government City Bonds
Berlin 4s
Greater Berlin 4s ....
Hamburg 4s ....
Bremen 4s ....
Cologne 4s ....
Dresden 4s ....
do 4 1 2 s ....
Dusseldorf 4s ......
Frankfort 4s ......... ....
Leipzig 4s . . . .... ....
do 4s : ....
Munich 4s ....
Stuttgart 4s ....
Essen 4s .......... ....
Bremen 4,,-;s ....
Hamburg 4lis
French Internal 4s 1917
French Victory 5a 1920
Belgian Restoration 5s
British 2"5, consols
ltal Cons War Loan 5
Curb Bonds
Allied Packers 6s
Am Tel & Tel s 1922
do 1924
Anaconda CoDDer 6s - ....
do 7s .- 104 V,
Anglo-Am Oil 7Ha 103
Armour & Co 7s 104
Beth Steel 7s 1935 104
Copper Ex Assn 8s 1924 1214
do 1925 103i
Galena Signal Oil 7s 105
Grand Trunk 6Hs 107
Gulf Oil Co 7s 104
Stars Roe 7s 3-yr 1923 101
So West Tel 7s 103 1
Stand Oil N Y 614s 3933 1094
do 7s 1926 106V4
Swift & Co 7s 3925 102
do 1931 103
Vacuum Oil 7s 10814
Foreign Bonds.
Furnished by Overbeck & Cooke com
pany of Portland:
98
107H
98 i
93
10314
303 4
10314
106
10414
100
101
105
104
10614
109
103
109
lOOH
104
103
92
10114
91
100
99 H
103
94
99
56
45
97
99
104X
1
1
1
1
1
1
3
1
1
3
3
1
1
1
3
1
58
60
21
54
3614
81
100
101
102
RAiL'.VAY BONDS STRONG
ACTIVE LIST AT XEW HIGH
RECORDS FOR YEAR.
Gains Range From J to 3 Points;
Foreign Issues Also Firm,
but Liberties Reactionary.
83
91
1076
86
82
90
1112
111
111
112
91
91
90
lO0
100
91
77
61
76
8
7S
79
84
91
93
98
311
9S
47
New York Bonds.
Furnished by Jordan. Wentworth & Co.
or Portland:
Atch gen 4s 3995
A C L 4s 1952
do 7e 1i:;o
B O gold 4s 1948
do ton 4s cv 19:i:i
do ref 5s 1995
Canada Southern 5s"........ 192
Canadian Nal eo. 7s 39X5
Canadian Nor Gs 1146
do 7s 3940
Central Pacific 4s 1949
Ches Ar Ohio cv 4s 3930
do gen 4s .............. 1992
do cv 5s 3946
do con 5s . 1939
C B Q 111 div 4s 1949
C & West Ind 4s 19.-.2
O G & W 4s 1959
C M & St P 4s 1925
do cv 4s 19:12
do deb 4s 1934
do gn 4s A .. . 3949
. do cv 5s 2014
C R I A- P ref 4s 1934
Colo Sou rf ex 4s 1935
do 4s 3 929
JDel Hudson cv 5s 1935
do 7s 1930
D & R G cv 4s 1936
do ref os .... 1955
Erie PI, 4s 199(1
do con 4s A 1953
do B 19r.:;
do T 1953
do Pa CG 4s 1951
Od Trunk eq 6a 1936
Gt Nor 4s 1961
do 7s .' 1936
Gt Trunk 6 1936
lil Cent jt 5s 1963
do ref 4s . 1955
K C Sou ref 5s 1950
Keo & Ds M 1st 5s 1923
L S & M S 4s 1931
L & N 7s 1930
do uni 4s , 1940
MStPASSM 6s 1946
M K & T 4s 1990
M P gen 4s 1975
do ref fts 1923
do ref 5s 1926
X Y C deb 4s 1934
do- con 4s 1998
do ref Imp 4a .'. 2113
do cv deb 6s 1935
do coll 7s 1930
N Y N H & H cv 6s. 1948
N O Tex Mex 5s 1935
N P P L 4s 1997
X P Gt Nor jt 6s 1936
O S L ref 4s 1929
Fenna 6s 1936
do gen 4 lis 3965
do 4s I960
do (tea os 1968
do 7s 1930
do R R 6a 1938
Reading gen 4s 1997
S A L 4s 1950
do 5s 1949
do 6s A 3945
Sou Ry con 5s ............. 1994
So Pac cv 4s 1929
do ref 4s 1955
do S F term 4s...... 3950
P conv 5s 1934
6t T, S F P L 4a A 1950
do gen 5s 1931
do P L 5s B 1950
do gen 6s ........ ..... . . 1931
do adj 6s ............... 1955
do inc 6s 1960
St U & S W 1st 5 .. .... 3952
con 4s 3932
do 1st 4s ................ 1989
Tex Pac 1st 5a ............. 2000
Un Pac 1st 4s ............. 1947
do cv 4s ................. 39li7
do ref 4s ................ 2008
do 6s 1928
Vn Tank 7s ................ 1930
Wabash 1st 5s ............. 1939
do 2d 5s ................. 1939
West Pac 5s ............... 1946
Industrials
Allied Packers 6s ; 1939
Amn Agr Ch 7s 1941
Amn Sm 1st 5s.. 1947
Amn Tob 7s - 1923
Anaconda 6s A 1929
do 7s B 1929
Armour cv 7s .............. 1930
do 4s 1939
Beaver Board Ss .......... 3933
Beth Steel 7s 1923
do eq 7s .... ......... 1935
do ret fis 1942
Cerro de Pasco 6a.. 1931
Chile conv 0s A 1932
do conv 7s ............. 1923
Col Graph 8s 1925
Copper E.p 8s 1923
do 8s 1924
do 8s 1925
Colo F & I gen 5s 1943
Colo Ind 5c 1934
Cuban Amn Sug 8s ........ 1931
Cuban Cane cv 7s . ..... 1930
Distillers Sec cv 5s........ 1927
Djam Match 7s 1935
Dupont 7s 1931
Empire Gas Fuel 6s 1924
Fisk Ss 1H41
Gen Elec deb 5s 1952
do deb 6s 1940
Goodrich 7s 1925
Goodvear fes ....... ..... 1941
Heintz 7s 1930
Hershev 7s 1930
III Steel debt 4s 1940
Ind Steel 5s 1952
Int Agr 5s 1932
Int Marine CT 6s 1941
Int Psper cv 5s 1935
Kelly Springfield Ss 1931
Kennecott 7s . 3930
Lack Steel 5s 3923
do 1st 5s 1950
Moby .MeN L 7s , . 1931
Lig & Myers 5s 1951
do 7s 3944
Lorillard 5s 19.M
do 7s 1944
Midvale 5s 1936
Morris i- Co. 7s 1930
Proc & Gamble 7s 1923
Republic 1 i- St os 194(
Sears Roe 7s 1922
Sears Roe 7s 3 923
Steel &- Tube 7a 1951
Swift fe Co. 7s 1951
Swift & Co 7s 1931
Vnl Drug Ss 1941
U S Rub 1st ref 5s 1947
do 7a .: 1930
IT S Steel sf os 19K3
Va Chem 5s 1923
Va Car Chem 7s 1932
West Elec 5s 1922
West r T col Tr Si 192S
West Union 6fa 1&36
54
54
SS
90
107
89
111
104
100
90
92
93
94
10S
93
103
S3
69
100
97
91
S5
89
10S
305
84
74
90
103
94
110
94
99
103
109
lli-i
85
60
30
70
99
94
91
85
105
7414
99
89
104
84
78
82
79
81
96
95
95
89
104
104
99
91
86
81
104
95
102
102
104
105
91
79
306
104
93
121
9::
104
39
302
102
103
91
78
106
89
46
109
107
101
107
102
108
108
303
310
105
1113
93
101
80
91
108
105
100
92
100
100
I I 7
97
117
90
105
IOI
94
100
IOI
IOI
3 02
103
III
90
108
104
100
1 05
100
99
113
Belgian rest 5s 1919
do prem 5s 1920
do 7s 1945
do 6s 1925
Brazil 8s 1941
Brazil 7s 1952
British 6s 1922
do 5s 1927
do 5s 3 929
do vky 4s 1919
do ref 4s 1919
U K 5s 1922
do 51-, s 1929
do 5s 1937
Bordeaux 6s 1934
Canadian 5s 1926
do 5s 1929
do 5s 1937
do os ' 1931
Chinese 5a 1951
Chile 8a 1941
French 4s 1917
do 5s 1920
do 5s 1931
do 7a 1941
do 8s 1945
German W L 5s
Berlin 4s
Hamburg 4s
do 4s
Leipsig 48
do os
Munich 4s
do fis ....
Frankfort 4s
Italian 5s 3918
Japanese 4s 1931
do 1st 4s 1925
do 2d 4a 1925
Norm-ay 8s 1940
Denmark 6s 1942
Bid.
68
72
104
99
101
92
91
94
93
80
77
109
109
105
82
99
102
99
99
52
103
49
70
69
98
100
Ask.
71
76
105
100
101
93
94
1'S
93
82
80
110
310
305
82
3 00
102
99
100
54
104
50
- 73
60
98
101
1
1
3
1
1
3
1
1
1
35
79
94
94
112
99
111
38
2
34
104
a 20
95
4
Mining Stocks at Boston.
Mining stock Quotations at Boston fur
nished by the Overbeck & Cooke com
pany of Portland:
Bid
Ariz Con .' 8
Adventure 50
Ahmeek 62
Al soman 20
Altouez
Arcadian 314
Bingham Mines Ul.
Ca! & Arizona 61
New Corn 19
Centennial 9
Cop Range 43
lavts Daly 7
East Butte 30
Franklin Mining o
nancock
Denmark 8s . .
Russian 5s . . .
00 os
do 6s
Sao Paulo 8s ..
Swiss 5s
do 8s
Dutch E Ind 6s
do 6s
1945
1921
1926
1919
1 936
1929
194U
1962
1947
35
79
94
93
111
99
110
13
"is
100
1 03
119
95
94
Helvetia 11
Island Creek .....!l09
do pfd 04
Kerr l.ake , . . . . at:
Lake Cop 4 i.
LaSalle 11:
Mass Con 01,
Mohawk 6i
May-Old Colony 4
Mason Valley ; 1 a4
North Butte l-3'.
North Lake 30
Old Horn Cop 25
Osceola Mining . 37
Ojibway 0
Quincy Mining 43
Pond Creek
21
South Lake 47
sudd boston, 11
Sm tTni Shoe Mch .' J 40
do pfd 6U
Superior Cop 4
Tuolumne 70
ftah Metals
Utah Con . ..
U S Mining .
do pfd . . . .
TTtah Apex - .
Ventura
Wolverine . .
v yandotte . .
1
2
42
49
2
80
11
50
Ask.
9
80
64
50
30
31i
15
62
19
10
44
8
10
2
2
1
110
95
3
4
1
2
63
4li
2
13
50
26
SS
3
44
22
49
1
41
26
10
4
73
1
3
43
49
3
80
12
60
Foreign xchanjre.
Foreign exchange rates at the close of
business yesterday, furnished by North
western National bank of Portland. The
amount quoted is the equivalent of the
foreign unit in United States funds:
Country Unit. Rate
Austria, kronen 00007
Belgium, francs 076S
XEW YORK, Aug. 2L Railway bonds,
especially so-called speculative Issues,
gave a remarkable demonstration . of
strength in today's dealings on the stock
exchange, virtually all the active issues
soaring to new high records for the year.
The extent of the gains, which ranged
from 1 to 3 points, was the largest since
the bull movement last spring.
Seaboard Air Line consolidated sixea
jumped more than four points at the
start of trading, giving impetus to the
whole speculative list. Profit taking
later resulted in some recessions, hut the
general list held up -well. Bt. Louis &
San Francisco income sixes closed the
day with a net gain of 3 point, while
gains of 1 to 2 points were made by Den
ver & Rio Grande 4s, St. Paul 4s of 1925.
New Haven 6s and 4s of 1955. St. Louis
& San Francisco 5s, Toledo, St. Louis &
Western 4s, Missouri Pacific 4s and 6s,
Iron Mountain 4s, Iowa Central 4s and
Erie consolidated 4s. '
Trading in the industrial group was
more limited, but substantial advances
took place in Cerro de Pasco 8s, Chile
Copper G;, Morris & Co. 4s and United
States Reaily 5s.
The demand -for Japanese 4s. which
climbed 1 points, featured the for
eign ?roup, which also was marked by
gains in Queensland 7s, Cuba 5s of 1949
and Havana Electric.
Liberty issues continued slightly reac
tionary under the influence of renewed
soldier bonus bill activity in congress.
The week started off without any
large new offerings,' but the stockholders
of the Cuban Cane Sugar corporation
today approved ? $10,000,000 issue of
common stock t- take care of the con
version of Eastern Cuba Sugar corpora
tion bonds. Total bond sales (par value)
were $12,891,000.
Resumption of public buying, which
came from all patts of the country and
apparently was based on the improved
strike situation and the prospect of great
industrial expansion this fall, today fur
nished the stock market with the im
petus that sent nearly three-score sea
soned shares to their highest levels of
the year In total sales, approximating
nearly 1.000,000 shares. It was the big
gest buying movement since the end of
the speculative period two months ago.
The strength of the present market
is attributed in part to the compara
tively light floating supply of popular
shares, several large recent accumula
tions having been withdrawn for invest
ment purposes. Another feature which
has attracted widespread attention is
the ability of many stocks to advance
substantially on comparatively small
transactions. Indicating that no impor
tant liquidation is taking place and that
present stockholders are not tempted to
take profits.
Virtually all the activo rail issues
broke through to the year's best prices
in a steadily advancing market. Coalers
and grangers were in the most demand,
gains of 1 to 4 points being scored by
Baltimore& Ohio, common and preferred.
Atlantic Coast Line, Canadian Pacific,
Union Pacific, Northern Pacific, Jersey
Central, C. & O., Chicago & Northwest
ern, Chicago, Milwaukee & St. Paul,
Delaware & Hudson, Great Northern pre
ferred, Louisville & Nashville, New Ha
ven, Peoria & Eastern and a few others
Equipment shares, following in the
wake of, the rails, American, Lima &
Baldwin Locomotives, Railway Steel
Springs and American Car & Foundry,
all mounting to new high ground on ex
pected resumption of large orders from
the principal tailway systems.
Public utilities also attracted a large
following. Columbia Gas selling at its
highest price for all time, while Consoli
dated and Pacific Gas each bettered
their previous high prices. American
Woolen and Allied Chemical rose to new
highs under the additional incentive of
the senate's action in raising tariff du
ties on those products.
Domestic oils responded to the belief
that crude oil price cuts are over and
that the general price tendency from now
on will be upward. Shares of companies
possessing facilities to convert crude
oil into gasoline and other products
were strong in expectation of increased
earnings.
Copper and independent steel stocks,
which showed only nominal changes, and
shipping shares, which continued to re
flect recent selling pressure, were the
only general exceptions to the definite
upward trend.
Unusual activity in stocks and bonds
brought more demands for call money,
w'hich opened at 3 per cent and ad
vanced to 4 in the final hour. Tune
money rates were virtually unchanged
with a comparatively small amount of
business being transacted. Little demand
was also noted for commercial paper.
Demand sterling continued to improve
in tone in response to heavy American
purchases of British coal and rubber.
Other allied currencies were slightly
higher, and Czeeho-Slovakian crowns
were quoted at 3.09, a new-high record,
CLOSING STOCK QUOTATIONS.
Furnished by the Overbeck & Cooke
company of Portland:
Sales. High. Low. Bid.
1,100 77 77 77
loo
100
800
500
"J.000
59
41
71
11
22
59
41
67
11
Adams Express.
Advance Rum .
do pfd
Agr Chem
do pfd
Ajax Rubber . .
Alaska Gold . . .
Alaska Juneau : . .
Allied Chem- 6,700 81 79
Alits-Chalmers. .. 500 55 54
do pt'd
Am Beet Sugar. 700 48 48
Am Bosch 100 41 41
Am Can Co 4,800 59 58
do pfd ino 109 109
Am Car & Fdy.. 600 182 ISO
do pfd
Am Cot Oil 200 28 27
do pfd
Am Drug Synd.. 400 6 6 6
Am .H & Leath 34
22
59
41
71
11
1
80
55
7
47
41
59
109
182
123
27
500 112
1,700
3 00
300
87
36
56
4.600 122
400
2,900
10O
17
63
99
900 136
8.900 42
2,500 85
111
86
36
56
120
17
62
99
136
41
85
Bulgaria, leva
Czecho-Slovakla. kronen
Denmark, kroner
England, pound sterling
Finland, finmark
France, francs
Germany, marks ........
Greece, drachmas
Holland, guilders
Hungary, kronen
Italy, lire
Jugo-S!avia. kronen
Norway, kroner
Portugal, escudos
Rouniania, lei
Serbia, dinara
Spain, pesetas
Sweden, kroner
Switzerland, francs ....
China-Hongkong, local
Shanghai, taels ...
Japan, yen
currency
.0070
.0321
.2175
4.50
.0222
, 0806
.0015
.0341
.3910
.0012
.0463
.0035
.1755
.0700
.0085
.0133
.1578
.2662
.1917
.5K00
.7775
.4825
do pfd
A. 1 Ice
Am lntl Corp. .
Am Linseed . . .
do pfd
Am Coco
do pfd
Am Safr Razor. .
Am Ship & Com
Am Smelter ...
do pfd
Am Snuff
Am Steel Fdy. .
Am Sugar
do pfd
Am Sumatra . .
Am Tel & Tel.
Am Tobacco ..
do "B"
Am Wool
do pfd
Am WT. P. pfd
Am Zinc
Anaconda 34 55 54
Assd Oil loo 116 116
Atchison , 3,800 304 104
do pfd 300 99 99
Atl Coast Line.. 1.900 317
Atl Gulf & W I 1.000 33
Baldwin Loco. . .15.500 127
do pfd
Bait & Ohio 6,100
do pfd 1.200
Beth Motors
37
323
71
111
36
36
58
320
119
6
37
63
99
136
42
85
110
38
124
600 37
1.900 324
3,000 150 149 150
1,100 149 147 149
17,800 95 94 95
107
31
.17
54
116
304
98
116
33
126
115
32
126
60
65
. 113
59 60
b
3,100
3,300
700
' '70O
2.000
NEW YORK, Aug. 21. Foreign ex
change firm: Great Britain, demand
4.48; cables. $4 48: 60-day bill on
banks. $4.45. France, demand. 7.99;
cables. 7.99., Italy, demand, 443; ca
bles. 4.53. Belgium, demand. 7.59: ca
bles. 7.59. Germany, demand. .09;
cables. .09 Holland, deniand, 38.95: ca
bles. 39.00. Norway. demand. 17.42.
Sweden, demand. 26.52. Denmark, de
mand, 21.63. Switzerland, demand.
19.07. Spain, demand, 15.53. Greece,
demand. 3.25, Poland, demand. .01.
Czecho-SIovakia. demand. 3.09. Argen
tine, demand, 36.37. Brazil, demand.
13.40. Montreal. .99.
Money, Silver, Ktc.
NEW YORK. Aug. 21. Call money
firmer: high. 4; low. 3',; ruling rate,
3"; closing bid, 4; offered at 4 ; last
loan, 4; call loans against acceptances,.
3-
Time loans, steady; mixed collateral,
60-90 days. 44; 4-6 months, 4.
Prime commercial paper, 4"4.
Foreign bar silver. 69Vc.
Mexican dollars. 53 c.
WXDOX. Aug.
per ounce. - Money
count rates: Short
teot ;
cent.
21. Bar silver,
1 per cent.
bills. 2 2
85d
Dia
per
three months bills, 22 per
Beth Steel "B"
B P. T
Butte & Sup ..
Caddo Oil
Calif Packing .
Calif Pet
do pfd
Canadian Pac
Cen Leather.
Cerro de Pasco..
Chandler Motor.
Chgo & N W ... 3,4
Chgo Gt W 1,000
65
41
78 78 78
25 24 25
30 30 30
10
83 82 82
63 62 62
90
. 9,000 146 144 146
OIIU 41 40 40
300 40 40 40
2.600 63 62 62
91
8
22
22
do pfd
Chili Cop
Chtno
C M St P
do .pfd ....
Coco Cola . . .
C & O
Colo F I...
Colo Southern
Col Gas & Elec. 8,100 10
Columbia Graph
Con Gas .-.13,700 128 125
t.ontt t an 20U 78
City Serv Bank
Corn Prod 4.100 118
1.390
... 3.500
. .. 1.000
. . .13,600
. . .24,300
... 1,000
... 4,100
800
200
30
35
53
73
79
32
50
87
8
22
22
80
34
51
72
77
32
50
99
8
do pfd
Cosden Oil 6.200 45 44
C R I & P 11,400 46 46
do A pfd 100 97 97
do B pfd 11,200 85 85
Crucible 4,100 93 92
do pfd 300 84 94
Cuba Cane 1,000 15 15
do pfd
Cuban Amn Sub 2.100 26 26
Del & Hudson
Dome Mines
300 130 129
Del Lack 4,000 133 132
Davidson Chem. 800 49 49
Endicott Johnsn 900 85 84
Erie 118 18 18
do 1st pfd 6.100 28 27
Elec Stor Bat... 1,800 48 48
Famous Players. 4,700 90 89
Fed Ming & Sml
do pfd
Fisk Tire . 600 13 13
Gen Cigars 600 78 77
Gen Elec 100 183 183
Gea Motor 6.80O liii 13
91
8
22
22
30
35
63
72
78
82
50
100
3
127
78
20
316
117
45
46
97
85
92
94
15
38
26
129
35
132
49
84
18
28
48
89
32
54
33
78
182
13 5
1 1 1 1 ana now u
and now
PORTLAND!
PACIFIC Coast offices of Cyrus
Peirce & Company which offer
complete investment service are to
be found in the following cities:
PORTLAND
1002 Wilcox Building-Broadway 5915
SAN FRANCISCO
Tenth Floor 433 California Street
, LOS ANGELES
639 South Spring Street
SEATTLE
Hoge Building
OAKLAND
First National Bank Building
SAN DIEGO
Union Building
SAN JOSE
First National Bank Building
FRESNO
Mattei Building
EUREKA
First National iBank Building
SACRAMENTO
Nicolaus Building
STOCKTON
Commercial &. Savings Bank Building
PASADENA
20 South Raymond Avenue
1
Cyrus V
taRCE & GOMEANY
1002 Wilcox Bldg ' PO RTL AND 'Tel Broadway 5915
INVESTMENT SECURITIES
SAN FRANCISCO SEATTLE LOS ANGELES
1921
37
16
82
42
04
32
83
55
79
18
112
41
8
113
'l6"
66
18
58
14
Gen Motor 6
Gen Asphalt ... 6,800
Goodrich 500
Glldden Paint .. 500
Granby BOO
Great Nor Ore.. 3. 800
do pfd 14,300
Greene Cananea. 200
Gulf S Steel 100
Glen Alden 100
Houston Oil 1,900
Hupp Motor 1,300
Ills Cent 400
Inspiration ..... 600
Int Agr Crp com
Interboro '
do pfd -
Interste Callahn. 1,100
Int Harv 600
do pfd
Int Merc Marine 1,300
do pfd 2.400
Int Nickel 1,500
Int Paper 10,000
do pfd
Invincible Oil .. 1.400
Island Oil 1,600
Jewel Tea
K C Southern .. 4.300
do pfd 3HO 08
Kelly-Spgfield .. 1.700 46
Kennecott 2.WOO 37
Keystone Tire . . 2.300 8
Lack Steel .... 300 81
Lee Tire
Lehigh Valley ..14,800 70
Lormara iuu atdj
Loew Theaters.. 800 17
L Sc. N 1,100 137
Max Mot "A" ... 700 59
do 1st a . . . 1,200 20
May Stores
Mex Pet 28,700 176
Miami 4no 29
Mid States Oil.. 6.500 13
Midvale Steel ... 900 36
M K & A' Wi... 9,600, 39
do pfd Wl 3,600 45
Mont Power ... 1.900 75
Mont Ward ... 3.400 24
Mo Pac ,. 6,300 24
do pfd 6,700 59
Marland Oil ... 5,500 4t
Nat Knamel 1,000 59
Nat Lead'
Nevada Con 200
New Haven 22.300
Norfolk & W... 2,400
Nor Pac 40,200
Nov Sco Steel . . soo
N Y Air Brake.. 1,000
N Y Central 7,000
North Amn . . 800
Okla Prod ref. . 8,000
Ontario Silver .. .....
Ontario & W. . . 4,500
Otis Steel 400
Pacific Dey .... 670
Pac Gas & El.. 7,100
Punta Allegre .. 20O
Pacific Oil 8.800
Pan Amn Pet... 5.4O0
do B" . . : 5O0
Penna 6,500
Peo Gas 300
Fere Marquette 5,600
65
36
16
82
42
91
32
83
55
77
18
112
41
83
119
87
.83
77
100
78
2
"28
12
6
82
51
57
76
71
47
8
112
'35
63
18
57
'13
'26
58
46
36
8
80
"68
163
17
135
59
19
173"
29
33
35
38
43
73
23
23
BR
40
59
32
119
85
33
74
99
78
2
27
12
6
79
50
56
75
71
47
81
65
36
16
31
42
94
32
83
55
78
IS
112
4'.
10
1
s
8
112
116
15
64
IS
58
85
13
44
27
58
46
36
. 8
80
27
70
183
17
138
58
19
128
174
29
33
35
18
45
74
24
23
58
41
59
102
17
33
119H
86
33
?5
100
78
2
6
28
12
6
80
50
57
75
71
a
40
Pure Oil W.B00 32 81 32
Pierce Arrow ... 100 12 12 12
Pierce Oil ...... 1,000 7 7 7
Pitts Coal 3,000 68 67 - 68
Pitts & W Va.. 200 41 41 41
Penn So Steel.. 20 7 7 7
Pssd Steel Car.. 2,900 82 81 82
Pullman 2.4(H) 124 124 123
Ray Cons 1,500 16 16 36
I Reading 47,000 80 78 80
Replogle Steel .. 500 33 32 33
Repub IiS 600 73 73 73
Roy Dutch Oil.. 3,000 66 55 05
Ry Steel Spg 400 113 111 112
Stand Oil Kan.. 800 99 8 98
Sears Roebuck.. 1,500 92 91 81
Shattuck, Ariz.. 100 9 9 9
Shell T & T 400 39 38 39
Sinclair 13,000 33 83 33
SStand Oil Ind.. 1,600 116 315 315
do N J 400 186 185 185
Sloss Shef 500 48 48 48
Sou Pac 21,300 95 04 95
Sou Ry 13,700 28 27 24
Stand Oil Cal... 7,500 111 109 110
St L & S F 12,200 32 31 32
Strom Carb 400 53 52 53
Studebaker 11,000 128 126 127,'
Swift & Co 1105
TennCop&Ch.. 1,300 31 30 10
Texas Oil 4.000 48 48 48
Texas Pac 4,400 33
Tex Pac O & O. 1.500 26 25 26
Tob Prod 2.400 57 57 57
Tran Cont Oil... 3,400 14 14 34
Union Oil Del... S.000 20 , 19 39
Union Pac 4,900 151 149 150
United Alloy 3S
United Drug 81 .
United Fruit 148
Un Bag & Pap.. 400 72 71 72
U Cal Pipe 100 35 34 34
Un Ret Stores.. 8,400 72 70 71
U S Ind Alco 2.100 6 65 65
U S Rub 1,500 58 6S 5S
do 1st pfd 105
U S Steel 26,000 104 10 104
do pfd ... 400 121
I'tnh Cop 2.500 67 66 7
Va Chem 1,000 30 80 30
do pfd ... 10O 72 72 72
Vanad Steel .... 3.100 50 49 50
Vivandou ....... 1,400 11 11 11
Wabash 7,000 13 13 33
do A pfd .... 6,200 .35 34 35
do B pfd 3,000 24 24 24
West Pac 200 20 3 9 20
do 3fd 200 62 61 61
West Union 200 110 110 110
Westghse A B. . 300 98 97 9S
do 15 & M ...11.000 63 62 6.!
White Motors 48
Willys-Overland.. 2,600 7 6 . 6
do pfd 38
Wilson Pack ... 5.40O 44
Wis Cent 300 33 31 32
Worth Pump ... 1,400 46 46 46
White OH 400 26 26 26
White Eagle Oil .... 26 25 26
Liberty Bond Quotations.
Liberty bond and victory note quota-
tions furnished by the Overbeck &
company of Portland:
Open. High. Low.
Liberty 3s.. 100.96 101.00 100.92
do 1st 4s
do 2d 4s ...300.26 100.36 100.23
do 1st 48 .100.90 101.00 100.78
do 2d 4s 1O0.44 100.42 0fl?,4
do 3d 4s. 100.40 100.42 100.34
do 4th 4s 101.02 101.04 100.92'
Victory 4s. .100.32 100.34 100.32
Callable 1923
Victory 4 . .100 70 100.72 100.70
Cooke
Close.
100.94
101.00
100.26
100.82
100.34
100.40
100.98
100.32
100.70
Swift & Co. Stocks.
Closing prices of Swift & Co. stocks
at Chicago were reported by the Over
beck & Cooke company of Portland as
follows:
Swift & Co 1"4
Swift International 20
r.ihhy, McNeil X- Libby 2
Precaution i
It is well known that a bitumi
nous surface on a road augrnents
the shock-absorbing quality of
the pneumatic tire, instead of
working- against it, as is the case
where rigid surfaces are used.
If states have found it proper to
legislate in favor of the use of
pneumatic tires to protect our
roads, why not regulate against
the use of rigid surfaces, thus
saving the taxpayers the expense
of replacements earlier than
would be necessary were every
precaution taken by adhering
strictly to the policy of laying
shock - absorbing pavement like
Warrenite-Bitulithic.
Northwestern Electric Co.
7 Cumulative First Preferred Stock
PER $iO PER
SHAKE - SHARE
for a Limited Time Only
As this issue is about to close, subscriptions will be filled
in the order received and the right is reserved to reject
or allot a smaller number of shares.
Par value $100
Not taxed in Oregon
Exempt from Normal Federal Income Tax
The Standard Investment Stock of the Northwest
3. G. Tavares, Mgr. Stock Sales Dept.,
Northwestern Electric Co.. Pittock Block, Portland.
Sir: Please fiend me additional information regarding your,
investment.
Name . .
Address
. .O
r
Prime Bonds
The Fall investment market is
closely approaching and prices
undoubtedly will advance.
We strongly recommend mak
ing your purchases now. If
your funds are not available
make reservations for later
delivery or for payment on
the Partial Payment Plan.
CIRRY CO. Koad 8-y,s. to yield
5.10.
J3000 July 1, 1936(8)106.43.
CONDON Water , to yield 5.40.
13000 August 1, 1942fa 107.28.
ARROYO (.RAMIE, Cal., Imp. 7s,
to yield 6.
J1702 Julv 2. 1924W101.7S
.1202 " 19251 102.71
1500 " 19266 103.51
1702 " 1931106.88
CASPER. Wjo Imp. 6s, to yield
$inoo est. Sept. 1, 3926f5ino
1000 " " 3929i10rt
500 " " 1930 100
MOSCOW, Idaho. Imp. 6s, to yield
600 Sept. 1. 1924 100
SAN BRUNO. Cal., Imp. 7s, to
yield. 6c.
(2000 July 2. 19251S 102.71.
WALMT CREEK. Cal., Imp. It,
to yield 6H,.
July 2,
in231oO.R8
1924 4101.78
1925M102 71
" 1926't ; 103.51
1927 Car 104.27
" lO-'Sfi 104.98
1932 107.44
Saskatchewan. 5s. to
fls
S 169.56
1369
110O
" 1369
8
18H9
100
KEGINA,
yield 6S,.
S1000 April 1, 19283)95.25.
CENTRAL COAL COKE CO,
to yield
$100O Juno 1, 192! 99. IB
4000 " 19289 98. SO
3000 " 1030'f 9S.47
3500 " 1935fi 1)7.82
500 " 19384i97.51
LOGAN Mun. Irr. I)lt. (Logan
Co.. Colo.) 6s, to yield 6W&.
t 500 June 1, 19244 91)4
1000 " 1925B-99.33
AMALGAMATED SCGAR CO. 7,
to yield 7.
$1500 April 1. 19370100
EMPIRE GAS FUEL 7ii, to
yield 7.65.
$1000 May 1, 1937D8.50.
New Issue
i
KLAMATH FALLS Imp. 6, to
yield AMc to rmt. dates and 6'
thereafter.
$ 2.000 est. July 1, 1926101.75
3,000 est. " 1929ft 102.85
10.000 est. " 193241)103.80
KEEDLEY, Cal., Imp. 7s, to yield
to e.so'fe.
$9945 July 2. 1924)?? 101.78 to
yield 6.
7945 July 1, 1926(fi103.51. to yield
6.
945 July 2, 1930?105.63 to yield
6 1 .
. 800 July 2. 1932 105.90, to
yield 6.20.
HOLLY srt.AR COROPORATION
7, to yield 7.
$56,500 July 1, 1937(i10O.
VIRGINIA - CAROLINA .CHEMI
CAL CO. 7Vi. to yield 7.73.
$3200 July 1, 1937(ij'9S.
Make Reservations Non
Use Our Partial Payment
Plan
FREEMAN, SMITH fie 3
xb.n Cam p Co. f23ks
LUMBERMEN! BLDO PORTLAND
FIFTH iptTl I Jt$v PKONI
STARK SUbftpS" 5740 '
We BuySell-guote
all issues of
U.S.
Certificates of
Indebtedness and
Gold Notes
in any amounts
We maintain a department
which specializes in these
securities enabling us to
give prompt service to
banks, corporations and in
dividual investors.
Wire or write forbids
or quotations
HALSEY,
STUART
& CO.
209 Sooth La Salle St., Chicago
CHICAGO NEW YORK BOSTON
DETROIT MILWAUKEE ST. LOUIS
PHILADELPHIA MINNEAPOLIS
To Help You
Our experienced bond
men and the exten
sive facilities of our
organization combine
to make our invest
ment service most
practical and helpful.
Ask for our
recommendations.
The National City
Company
Offices In more than 60 cities
Yeon Bldgr., Portland
Telephone Main 0072