TJUJi MOKJSJLNCi OKJiOONlAiV, MONDAY, SEPTEMBEK 4, 1923
17,
SHORTAGE OF CAES
FELT BY 1LUIH
Situation Due to Strike
Becoming Acute.
Is
icial.) Russell G. Pond, upper val- !
t ley orchardist, has invented several
appliances to facilitate the work ot
growers that have proved popular.
Mr. Pond, an eastern college man,
scion of the pioneer piano manufac
turing concern, first won note
among fruitgrowers for a screw
eye and hook, to be used . with
twine for supporting overburdened
branches. By means of the eyes
the outer branches were tied to a
central supporting branch.
Mr. Pond this year is marketing
an orchard ladder, known as "the
centipede." The ladders' made from
a single fir or pine piece, with
tough oak rounds, are built in 16
and 18-foot lengths.
MILLS MAY BE CLOSED
Iiuiriber Manufacturers in Many
Cases Compelled to Refuse
to Take Orders.
Schools, Churches, Community
Hall Buildings to Be Built
at Long-Bell Center.
PTJGET SOUND BUREAU. Seattle.
Industry and threatens to force tne ; yfgh Sept 3. The new town of
closing down of a number of mills. Lon&view, which is to be added to
branch railroad lines are not re
The shortage of cars becomes
more acute as the railroad shop
men's strike continues, and is hav
ing a serious effect on the lumber
NORTHWEST FARMS
HAVE POOR CROPS
Rural Districts Also Hit by
Low Prices. -
N
SEATTLE ARCHITECTS LAY
ING OUT LUMBER TOWN.
ceiving more than one-fourth of the
required number of cars daily and
tha situation is becoming worse
rather than better. Mills located
in cities where cars are more ac
cessible are having their car prob
lems also and see no hope lor lm
orovement for some time to come.
There are just as many cars as
there were a few months ago, but
they are not reaching the mills.
Lack of motive equipment is in part
responsible for the scarcity of cara
Here in the northwest the railroads
are in much better shape than in the
st. where strike conditions are
, most serious. Cars go east with
loads of lumber, are unloaded and
then remain on sidings because there
rna.ir to permit their return, it is
said.
Strike Blow to Industry.
The car shortage is coming at the
worst possible time, for the lumber
industry has been entering the
greatest period of activity that it
has ever known in tha northwest.
Orders are at hand for practically
every type of mill in tne country
and nrices have been strengthening.
Manv of the mills have refused to
take more orders than thev now
have on their books. They refuse
to bind themselves for deliveries
that are uncertain as leng as cars
are not available. Buying is prac
tically impossible and orders are go
Irg begging.
Gloom now prevails in the lum
ber industry," declared a manufac
turer a few days ago. "'Before the
strike started I would have gambled
that the manufacturers would ex
perience the best year they have
ever had. Now cars are few and far
between and we are unabla to get
out many of the orders that are on
our books. Deliverias by rail are
made very uncertain And have not
arrived in time to supply the de
mands of purchasers. Should the
strike be settled immediately it
would be at least 60 days before we
could experience any great relief. It
would take that length of time to
repair the engines on the eastern
roads and get them in condition to
bring cars here. ;
Problem Same Elsewhere.
"Not alone are the manufacturers
of the northwest embarrassed by the
car shortage, for the operators in
the south and other sections are ex
periencing conditions just as seri
ous. In fact, the lumber-producing
areas of the entire country are suf
fering." The demands for lumber have con
tinued to be great in -volume, and
as has been said many orders have
not found mills willing to accept
them. At this time the demand
from the central states is particu
larly strong, but cars must be de
pended upon for delivery and as a
consequence many cannot be ac
cepted. Much of the business that goes to
the Atlantic states finds its way by
water, and there is less difficulty in
delivery. Another situation that is
encouraging is the fact that the
business to the orient is rapidly im
proving and large cargoes of Jap-
. anese "squares are being sent
across the Pacific. This business
was the "backbone" of the lumber
industry on the Pacific coast last
year and is now proving beneficial
to the manufacturers.
California Still Bnyinfc,
The demand from California con
tinues strong, and many of the or
ders from San Francisco and San
Pedro are shipped by water.
The logging camps are still run
ning full force and have seemingly
hit their stride after having been
disturbed for. several weeks by for
est fires. The slowing up of the
manufacturing end of the game,
through the car shortage, will give
the camps an opportunity to catch
up. There has been a shortage of
logs, and very few that have been
taken from the timber have found a
place in storage for winter months.
Should the mills or any number of
them be forced to close on account
of the car shortage, the logging
camps could continue working and
the logs could be placed in storage
ponds or in booms for later con
sumption. The mill operators will not suf
fer alone in case they are forced to
close their plants because of lack
f cars. Hundreds of men who have
found steady employment will be
forced into idleness, and a serious
unemployment condition will result.
Ail Business Affected.
At present the mills and logging
camps are putting minions 01 aoi
lars in the pockets of labor each
month in the northwest. New
camps are being constructed and
new mills are in the process of con
struction. There is work for prac
tically every experienced mill work
er or logger who desires a- job. The
closing down of any portion of the
mills would throw a lars number
of men with dependent families out
of work and cut down the supply of
money that goes into the pockets
of merchants and
business.
the present city of Kelso, is being
laid out on paper in Seattle, and two
Seattle architects have been com
missioned to prepare the plans and
specifications for the buildings to
be constructed by the Long-Bell
Lumber company.
This is the biggest housing project
ever undertaken in Washington, ex
cept that conducted by the United
State Housing corporation at the
Bremerton navy yard for the ben
efit of the war-time working popu
lation. ,
The Longview project calls for the
laying out of a miniature cityr with
streets, parks, sewers, water and
lights, and with plans for the im
mediate construction of 300 cottages
and five large hotel dormitories. The
further building programme, to be
undertaken as soon as these living
quarters are completed, includes
schools, churches, a community hall
and numerous store and office build
ings. The Long-Bell company ia
said to be planning to make Long
view the center of a population of
not less than 4000, with every fa
cility for comfort and enjoyment
that should attach to a community
of that size.
John R. Nevins and David J. Myers
are the Seattle architects. The
homes to be immediately erected
will be of frame construction, of
five rooms each. The hotel dormi
tories will also be of frame.
It is expected that the construc
tion will be carried forward by the
Long-Bell company with its own
men who will afterward be employed
in its mills and camps.
SHEEP' MEN GET PROFIT
MILK HELP TP ID GENTS
TACOMA DISTRIBUTORS UN
CERTAIN AS TO FUTURE.
Pierce County Dairymen's Asso
ciation' Said to Be Insisting
on Wholesale Boost.
TACOMA, Wash., Sept. 3. (Spe
cial.) Tacoma's big milk distrib
utors have announced that with
smaller distributors they are hold
ing the retail price of milk down
to 10 cents a quart after a month
at 12 cents, despite the insistent
attempts of the Pacific County
Dairymen's association to put into
effect the raise of 10 cents a 100
pounds wholesale announced for
September 1.
None of the distributors would
predict how long the price would
remain at 10 cents. Bert W. Walker
of the Royal Ice Cream company be
lieving that October 1 would be
the limit. All distributors declared
themselves uncertain as to their fu
ture moves, but added that for the
present they would get along as
best they could and endeavor to
meet the prices of their competi
tors. Distribution of milk by the dairy
men's association has not material
ized, but was expected to start to-
xlay with two trucks serving cus
tomers, announced B. W. Reeve,
president of the organization.
Wool and Mutton Sell for Enough
to Put Growers on Easy
Street for Year.
Without any mincing of words- it may
bs said that croo conditions tnrousnoui
tha northwest have been anything but
satisfactory for the farmer this season.
Thrt month aro all rospecis indicated
that there would be a big wheat crop
and that the man who foT the past few
years has found himself burdened down
with mortgages and debt would be able
to make profit enougn irom m
to square himself, in a measure at least,
with the financial world.
The long period of hot weather and
th hot winds ruined a great percentage
of the growing grain and the farmer has
found himself face to face with con
ditions that are equally as bad as last
year, when crops were fair in yield but
insufficient from the price standpoint to
insure a profit.
The northwest farmer has suffered
more through crop failure than any other
farmer of thef United States. In other
sections, such as Minnesota, Montana and
North Dakota, the wheat growers have
reaDed bis. almost bumper crops, and
rhi has had an ill effect upon the north
west farmer. Were crop conditions in
other sections similar to those of Ore
gon and Washington, the farmer might
expect higher prices, but there is an
abundance of wheat in the country, and
with such a situation existing the farmer
cannot expect a price for his grain that
is much higher tnan tnat now oeing
offered.
A few days ago a "Washington banker
who came from a wheat-growing section
of his state arrived in Portland with a
pessimistic story of wheat crop failure.
He told how many of the renters in his
section had' been so disappointed by short
crops that, they had packed their belong
ings and moved to otner localities, wnere
they hoped to start anew. Other bankers
from the wheat growing sections have
carried stories there that are almost as
disappointing in detail.
Plane to In.pect Forest.
ALBANY. Or., Sept. 3. (Special.)
An airplane inspection of the
Santiam national forest will be
made Tuesday by Supervisor Hall, it
was announced from the reserve of
ficer here today. The flight over
the forest will be made in one of
the planes from the air squadron
at Eugene.
DAILY METEOROLOGICAL REPORT
PORTLAND, Sept. 3- Maximum tem
perature. -7o degrees; minimum. 54 de
grees. River reading. 8 A. M.. 4.0 fret:
change in last -4 hours. 0.2 ft. rise. Total
rainfall (5 P. M. to 5 P. M.), none: total
rainfall since September 1, 1922. trace:
normal rainfall since September 1. 0.09
inch; deficiency or excess of rainfall
since .September 1, 1922, -O.09 inch.
Sunrise. R:34 A. M. ; sunset. :4l! P. M. :
total sunshine. 10 hours r:t minutes; pos
sible sunshine. 13 hours 12 minutes.
Moonrise. 5:f5 P. M. Monday: moonset.
4:02 A. M. Monday. Barometer (reduced
to sea level). P. M., 2!.S inches. Rela
time humidity. 5 A. M.. 8ti per . cent;
noon. SO per cent: . P. M.. 50 per cent.
THB WEATHER.
Charles H. Stewart, vice-president of
the Northwestern National bank, who
knows the conditions of the farmer and
the stockman of the northwest as well as
any financier in the city, stated yesterday
that the pocketbook of tne wneat grower
of this section is just as flat as it was
year ago. Six months ago he was of
the opinion that the 1 wheat crop would
be great and that prices would be suf
ficient to compensate the grower for his
labors.
Farmers economized more this season
than they have for several seasons past.
Where possible they dispensed with help
and went into the fields and did the
work themselves. Many of them were
bent on making a profit and using this
profit to pay principal and Interest
notes at the banks. Dry weather and big
wheat - crops in other sections shattered
their hopes. -
The farmer Is not the only man in the
northwest who is making complaint
against conditions. The cattleman is be
wailing the fact that prices are not high
enough for his stock to compensate him.
Some time ago it seemed as though th
worst period had been passed by the
stockman. But prices have slumped from
temporary advances and the outlook is
anything but encouraging.
;
The sheep man, on the other hand.
feeling better than he has for a Ion
time. Prices on sheep and wool have
advanced materially and good profits are
being made. A year ago the prices of
wool and sheep were exceedingly low
and many of the big men in the industry
were facing rum. The tide seems to have
turned for them and debts will be liqui
oatea tnis law.
The hop grower who was unfortunate
enough not to have been able to contract
his crops is also in the .pessimistic class.
frices are not nign enough to insure
profit to the average grower. In some
cases crops will not be harvested.
Independence is . one section where
different situation exists. According to
C. w. Irvine, president of the Farmers'
State bank of that city, most of the
growers along the Willamette have con
tracted their 1922 crops and are assured
of good returns. The contracts have been
made with English firms
v"In my opinion," said Mr. Irvine, whe
in Portland last week, "75 percent of our
hops are contracted and this puts us in
fine shape. ,
$77,879,522 and & crop value an acre
of 193.21 a year for the ten. years
from 1912 to 1921, inclusive, the
Yakima reclamation project ranked
second among all federal reclaoma
tion, projects, according to statistics
gathered from federal reports by J.
S. Mcintosh, deputy commissioner of
the bureau of statistics and immi
gration in the office of Secretary of
State Hinkle.
Th net construction cost of the
project was $10, 804,500, on which
the district has paid $2,743,000.
There are 132,733 acres in the proj
ect foe which water is available, of
which 100,733 are In the Sunnyside
district and 32,000 In the Tieton
district.
The 1921- crop of the project, as a
whole, was valued at $10,903,410, or
approximately $100,000 more than
the total cost of the project. Of this
total the Sunnyside district crop had
a value of $7,797,000 and the Tieton
division -of $3,106,410.
BEARS ABE MM TIMID
ITKT7IER MATERIAL BREAK
IN GRAIN NOT EXPECTED.
Crop Movement Little Below
Five-Year Average Despite
Railroad Strike.
STATIONS.
generally helps
BUILDING IS HELD SAFE
Inspection Is Made of School
Structure at Fossil.
FOSSIL,, Or., Sept. 3. (Special.)
E. Swanson, state inspector, with
members of the local school board
made an examination of the Fossil
school building last week and de
clared it safe.
At the annual school meeting in
June the directors were authorized
to have a thorough inspection made
by a competent person before the
opening of school this fall, as con
siderable uneasiness was felt among
school patrons.
INVENTOR AIDS GROWERS
' Centipede Ladder Used by Hood
River Orchardists.
, OX RIVER, Or., Sept. 3. (Spe-
'Wlnd,
Weather.
Baker ... ,'iUj sS,lj.OliiU'iS iClear
Boise ... !" (LOO!. . NWiClear
Boston ...I... I 820.0o:io:sw JCIoudy
Chicago .....) 8010.001.-. IB Clear
Denver . .... 820 . 001 . . iSVT Cloudy
D. Moines. Mi'O. 00; . . ISEJ Clear
Eureka 2!n.00!..lN Clear.
Galveston ... SO t. on . . SE Clear
Helena 84:0 .Of) .. !NW Clear
Juneau J4ti O.OOI . . I
Kan. Cty ...I 900.oo' . . INB Pt. cloudy
L. Angeles... 82 0.10!. . ;W Clear
Marshfld 401 TtlO.OO! . ,NW Pt. cloudy
Medford . . . . i 02 O.0O-30.NW Pt. cloudy
Minn'plis K0O.02jl2.S Clear
N. Orleans!... 880. 0Si..lSB Cloudy
New York ... 80'O.OOj.. S Cloudv
No. Head I 54 6O,O.01,22iS Cloudy
Phoenix J4'0.00). .IW Clear
Pocatello .... 88IO.OO..S Clear
Portland . 5fi 76 0 .00. . NW Cloudy
-Roseburg . 52 86 O.OO' . .!NW Clear
Sacra nto I 60 P0 0.fMK16 Clear
St. Louis ... 88 0.02j..iSW Pt. cloudy
Salt Lake.... 84 0.00!..s Clear
San Diego ... 780. 0012 XW Clear
San Fran I I 68-0. 001BISW -Cloudy
Seattle .. B4f 70-'O. 00:18ISW Cloudy,
Sitka I ... . t48; I. .1
Spokane ..( 52 86 0 .00! . . !sw Pt. cloudy
Tacoma .....' 74l0.fMl..W Cloudy
Tatoosh Is ' 52 5fii0.B4!12W Hain
Valdezt t54 0.H: I '
Walla W.. 50 00 0.0"! . . SW IClear
Washint'n ... 84 o. 0O .. SB IClear
Winnipeg ... 8A0.no!... S IPt. cloudy
Yakima .. 50 840. 001.. j ICloudv
tA. M. tQday.
Ing day.
JP. Ar. report of preced-
rORECASTS.
Portland and vicinity Monday,
showers: winds mostly westerly.
Oregon Monday, showers, cooler east
ern portion: moderate winds, mostly
westerly.
Washington Monday, showers: -cooler
east portion; moderate . southwesterly
winds.
Phone your want ads to The Ore-
gonian. All its readers are Inter
ested in the classified columns.
The federal farm loan commission
definitely committed to a policy of ut
most strictness in passing on farm loan
made by the joint stock land banks. This
was made very plain at the annual con
vention of the American Association
Joint Stock Land banks, at Chicago,
according to Carl Detering. vice-nresi-
dent of the Lumbermens Trust company
Dank and casnier of the Oregon-Wash
tngton Joint Stock Land bank, who h
just returned from the meeting.
"The reason why the commission h
decided to pass only strong farm loans
is to protect the interests of agriculture.
said Mr. Detering. "The hoard takes the
attitude that any loose loans would re
act on the bonds which the loans secure.
If the bonds are of unquestionable worth
as they are, then money to make the
loans will continue easily available. In
other words the- security behind the
bonds must be solid, otherwise the bonds
cannot be sold and money to make loans
thereby procured."
At the convention it was shown that
practically $300,000,000 has already been
lent to the farmers by joint stock land
banks and federal land banks since they
were created under congressional act. bv
the 5-3 banks now operating in various
parts ot the United States.
v hat impressed me most of all." said
Mr. Detering, "was the high ideals of
service that are actuating joint stock
land bank officials.
"The association fully realizes the im
mense responsibility that joint stock land
banks have assumed and realize that by
neiping tne iarmer, that it is doing
great work in the upbuilding of staple
prosperity ior tne country as a whole.
"The bonds issued by the banks and
which are in turn secured hv farms on
which loa-ns are made, are being readily
purcnasea oy investors. Investors rec
ognize that they are backed by the best
security possible and furthermore ap
preciate tne lact that agriculture the
foundation of our economic structure, and
as such oners tne nnest security possible.
1 he response from the farmers is
proving enthusiastic and they are taking
advantage as rapidly as possible of the
long time loans which joint stock land
banks make. From every indication this
method of finance will replace to a large
i tne mortgage loan system for th
reason that It gives to agriculture the
cheap money and the long terms of years
for repayment, which the nature of the
industry demands.
furthermore it will operate strongly
toward rehabilitating our farm popula
tion. At the present time there are four
iarmer tne tarm worker, the
farm tenant, the farmer who owes n
mortgage and finally the farmer with his
uiear ot encumbrance. Throne-h ..tv
eration of joint stock land banks the farm
icnicr win oa advanced to the .position of
the farmer with a mortgage and ulti
mately he will come to be the finest
type of farmer, which is the man who
owns his land debt free.'
The election of five new directors of
the Northwestern National bank last
weok revealed the fact that eastern capi-
0 now nere ior the purpose
of exploiting the timber resources of the
, inning gtocs in tne
iinancial institution.
growing
The addition of Chauncev TWcCnrmicv
vice-president of the Miami corporation,
which is controlled by the Deering inter
ests, to the directorate, is held as a big
thing for the bank. For the next few
years the Miami corporation will be a
big developer of Oregon's timber properties.
YAKIMA PROJECT HUGE
Reclamation District Is Second
Largest Government Scheme.
OL.YMPIA, Wash., Sept. 3. (Spe
cial.) With a gross crop value of
i BY CHARLES D. MICHAELS.
(By Chicago Tribune Leased. "Wire.)
CHICAGO, Sept. S. Wheat prices
have declined to a level where the
farmers in the northwest and southwest
are -retting less than SI.
Durum wheat, which is nearly M per
cent of the total crop in the northwest
ern states, ia selling at 50 cents in some
sections.
Prices are so low that those who have
been extremely bearish are disposed to
eo slow on the selling side, but, while
they believe that there may not be any
advance for the present, there is little
to be gained on the selling aide other
than the carrying charges. For two weeks
prices for December wheat had almost
the same range and net losses for the
week were only 2 cents, while -September
finished with a loss of 2 74 cents
and May cent for the week.
A decreasing movement in winter
wheat in states of the middle west and
southwest was more than offset by in
crease in the northwest, but the primary
movement is materially under last year's.
Spring wheat estimates in the American
and Canadian northwest are being re
vised upwards and there will be a move
ment marketward from those sections
that will be only restricted by the ability
of the railroads to furnish cars.
A car shortage exists in all sections,
but it is no worse than usual at this
season, there being an average move
ment of grain on. This is shown by the
aggregate of 8,488,000 bushels at Chi
cago last week, a decrease of 1,068,000
bushels from last year and of only 120,-
000 bushels as compared with the five
year average.
Primary receipts of 28,783,000 bushels i
increased 6S8.000 bushels for the week, i
but decreased 3,468.000 bushels from last j
year and were only 27,000 bushels below
the average. In very few years have the
railroads been enabled to furnish suffi
cient cars to move all the grains of
fered from the interior at this season
number of the 'largest western and
southwestern railroads report that they
have fewer bad order cars than last
veaT and as compared with July 1.
What effect the large supplies of
wheat in the United States and Canada
will have on prices in the future
problematical. A number of close mar
ket students believe that all bearish
conditions have been discounted. Others
say that wheat is within five cents of
the bottom, while the third set. who are
bearish, expect a greater decline with
no material rally.
Based on a carryover of 79,000.000
bushels in all positions In the United
States on July 1, with a crop of 820,
000.000 bushels this season, there is i
total supply of approximately 900,000,
000 bushels, which is sufficient for an
exportable surplus of 275,000,000 bushels.
Based on a Canadian crop of 400,000,000
bushels and allowing 100,000,000 bushels
ior consumption and seed, Canada should
have 300.000.000 bushels, making a sur
plus of 575,000,000 bushels, or within
100,000,000 bushels of Europe's import re
quirements. It is not probable that the United
States wili export more than 225,000.000
bushels, if it can do that much, and ex
port buying will have to improve mate
rially to enable a movement of that
size. Europe needs about 50,000,000
bushels a month from exporting coun
tries and will have no trouble getting it.
Drought and extreme heat has dam
aged the-corn crop severely in southern
and western Nebraska, northern and
central Kansas, western Oklahoma, Tx
as. southern Minnesota and South Da
kota, southern Illinois, part of Missouri
and a considerable section of Ohio and
Indiana. Private estimates are for 2,705,
000.000 to 2,860,000,000 bushels, com
pared with 3,017,000,000 bushels last
week and 3,081,000,000 bushels harvested
last year.
Crop damage has brought more buy
ing from the outside and the trade is
moderately bullish. Export demand has
improved and movement from the coun
try has also enlarged, although it is
below last year's.
Oats are selling at 20 cents a bushel
ess in the northwest and they are being
fed to hogs in preference to selling
Prices here are so low that there is lit
tle in the short side and the principal
trading is spreading between September
and the distant months.
NEW YORK OFFERS
HUGE eOlD ISSUES
$18,150,000 in Paper Put
on Gotham Market.
PROSPECTS ARE HUGE
Argentine Securities Expected to
Bo Vp tor Sale "Within
Short Time.
: 1
Intel bor-Met. 4 h . 61
do ctfs 84
Int Merc Ma a f 6s.2ia
Int Paper ref 5a B. 94
Invincible Oil 8... 32
la Central ref 4s... 101
K C Ft S & M 4S..1H7
K C So 5s 23
K C Terminal 5s... 23
Kelly-SDKfid T 8s.
Lack Steel 5s 1923
10
16
90
97
45
92.
85 Vi
19 108 4 10T4
18 10U4 10O
14
144
92 Va
42
82
l
83
1514
li
93
89
97 .
43 ft
82
92
85
107
100 Z
92 ft
95
94
do 1950 43 93 9214
LS&MS db 4s, 1923 15 85 9554
lo 1SS1 73 S4A 94
Lehigh Valley 6s.. 6 1034 103 103
Liggett & Myers 5s 4 ltK 108 100
Lonilara 5s 4 ioe luo iuo
Louis & N ret 5Hs. 20 93
i-iOUlSV & N unl 43 62 89 ft
11 102
22 106ft
5 94
(SO 90
23 48 ft
63 106
160 86
149 64 ft
78 84 ft
204 69
56 99
93
89
102
106
83 ft
89
46
104
85
62
83'
68 ft
9ST4
MARKET BRIGHT
NEW YORK. Sept. S. By the Asso
ciated Press.) New bond offerings, to
taling $18,150,000 were put out by local
bankers last week, as compared with
J7,50,000 the week before, which was
the .owest of the year.
SMve industrial Issues aggregating
$13,600,000, provided the bulk of the
week's output. The largest of these was
an offering of $5,000 000 live-year 6 per
cent. Gold notes of the General Petro
leum company . were offered first to
stockholders at par. The periods of the
issue will be used to make additional
purchases of crude oil.
One of the largest offerings m pros
pect is a $200,000,000 issue of 6ft
per cent bonds of tne Argentine govern
ment, which were purchased during the
week by a local banking syndicate at a
price of 97.
It is expected that not more than one-
half of these will be offered at one time.
Hatii Off era Loan.
Haiti is planning to dispose of a $40,-
000.000 loan here to refund old French
loans, the Intention of the Haitien gov
ernment being to sell $16,000,000 worth
of bonds at this time and the remainder
later, providing the approval of the state
deuartment Is obtained. Porto Rico also
has asked permission to sell a $12,000 000
loan in this market. Peru is still nego
tiating for a long term loan of $50,-
000.000.
Bonds called for payment In September
In advance of maturity aggregate $115,-
275 000 as compared with $96,725,000 In
August and $670,000 in September, 1921.
An unusually largo numbei for this time I
of year, amounting to $113,650 000. are
to be paid off entirely, and In a number
of cases replaced by issues bearing
smaller coupon rate.
$25,000,000 Issues Due.
The three largest issues to be paid off.
each for $25,000,000. are the Consolidated
Gas of New Tor etjnvertible 7s, Humble
Oil Refining company 7s and the New
York Central 10 year 7s. Practically all
the Consolidated Gas bonds were con
verted into stock at par. The New York
Central issue waE financed through th
rec9nt sale of a refund.
RiiOent sale of a. refunding 5 per cent
issue of the Humble Oil issue was taken
care of by the sale of 10-year 5ft per
' cent debenture bonds.
Other large offerings last week were
$4,000,000 20-year 7 per cent first
mortgage sinking fund gold bonds of the
G. X. Oery corporation (silk m&nufac
turers), whi-ch were offered at par; $2,
000.000 15-year 7 per cent first mortgage
convertible gold bonds of the Martel
Mills, which were offered at 95.55,
yield 7ft per cent; $2,000,000 30-year
per cent farm loan bonds of the Pacific
Coast Joint Stock Land bank, offered at
103 54, to yield 4 to 5 per cent and $1
500,000 17-year 7ft per cent sinking fund
secured gold bonds of the Rosemary
jnr.uiacturing company, which were of
fered at par,
New York Bonds.
IUKH-, sept. 3. following are
the week's high, low and closing prices
ot oonas on tne iNew lork tttock &x
change and the1 week's total sales
each bond (In $1000):
U. S. bonds
Sales. High. Low. Close
Liberty 3fts 98 100.94 100.66 100.66
dost4s 3 100.56 100.66 100.56
do 2d 4s 38 100.24 100.18 100.18
dolt4Vis 368 1 00.76 100.22 100.36
ao2d4y.s 2513 100.28 100.04 100.1
doSd4Vis 2409 100.50 100.14 30O.2S
do 4tn 4 lis. . . 3918 100.72 1O0.24 1(10 40
Victory 4s 657 100.74 100.64 100.68
4 101ft 101
54 78ft 76
59 105ft 105
29 88 ft
21 108
67 107
83 6S
42 70
Mkt St Ry con 5s.
Marland Oil 8s
Mei Pet 8s .
Midvale 6t cv 5s
M & St L ref 5s
M St P&-SSM 6fts
MK4T n p 1 5a A
do ad 5s A
do 1st 4s
Mo Pac gen 4s
Mont Pow 5s A..
N C St L con 5s.
N O T & M inc 5s
NYC col 7s
do deb 6s 101.107 ft 107
do con 4s M 86W 85
N Y Edi ref tffts 91 112ft 111
NTNH4H o 6s '48 155 85 ft 84
do deb 4s. 1957. 2 68 ft 56 ft
N Y Ry ref 4s cfs
N Y Tel deb 6s '49
do ref 6s, 1941.
N Y W & Bos 4fts
Norf & So 5s A . .
Norf Sc. W cv 6s. .
do con 4s
No Pac pr lien 4s.
N St P ref 5e A.
N W Bell Tel 7s..
Or 4 Cat 1st 5s. . .
O R & N 1st 4a...
O S L gtd 5s ctfs.
do ref 4s.
O-W R R & N 4s.
Otis Steel 8s A...
Pac Gas St El 6s..
Pack Mot Car 8s.
Pan-A P& Tr Is.
Pa R R 6fts 1!M 11074 110
do gen 5s....... 68 103ft 102
do gen 4fts S6 96ft 93ft
Pere Mar ref 5s.. 19 101ft 100
Feo & East inc 4s
Pierce Oil deb 8s
Port R L & P 6s
Prod & Ref 8s...
Reading gen 8s...
Rep I & a col 5s.
Rio G & W 1st 4s.
R I Ark & La 4fts
St L I M&So rf 4s
St L & S F adj 6s 108
do inc 6s 153
do pr Hen 4s A. 191
St L Sw 1st 4s . . . 30
StPftKC St L 4ftB 93
S-A & A P 1st 4s. 19
Seabrd A L con Us 497
do adj 5s 313
do ref 4s
Sharon St Hp 8s A
Sinclair Oil col 7s.
So Bell Tel 5s
So Pac cv 4s
do ref 4s
do col tr 4s . . . ,
So Ry gen 6fts . . .
do con os
do gen 4s 275 72
do4s 1309 100.30 100.26 100.28
Called
Foreign govt., state and municinal-
Argentme ta
Chin Govt Rv 5s. .
City of Bergen 8s..
City of Berne 8s. .
City of Bord 6s.
City of Copen 5ft.
i-ity or iyons 63. .
City of Mars 6s. . .
City of R de J 8s.
city of S Paulo 8e
City of Tokio 5s. .
City of Zurich 8s..
Danish Muni 8a A.
Dept. of Seine
Dom of Can 6ft
notes, iyy
D E Ind 6s, 1962.
Fr Rep 7 ft s
Jap 1st 4fts
Japanese 4s
King of Bel 7fts. .
King of Bel 6s. . . .
King of Den 6s. . . .
OUTCOME OF REPARATION'S
CONFERENCE CHEERING.
Effort of Bears to Cover Runs
Securities Up After Slump
Until Friday.
BY ROBERT STEELE.
(Copyright, 1922, by the Chicago Tribune.)
iiiy jnicago Tribune leased Wire.)
LONDON, Sept. 3. Up until yesterday
the city was kept in a state of suspen
sion regarding the outcome etf the repa
rations commission's deliberations, and
with business consequently at a low ebb
there was some tendency to give way to
unwarranted anxiety. When the com
promise and its acceptance by the French
cabinet came buyers came back into all
departments and the efforts of the bears
to buy back acted as a spark to tinder,
with' the result that prices blazed up all
over the house and dealers separated
for the week end in a very cheery frame
of mind. "
The gilt-edged securities suffered dis
couraging vicissitudes, prices sagging
owing to a good deal of liquidation and
lack of support by the large interests.
As a result consols were the dullest, in
triking contrast to their rather . recent
brilliancy. "War loans, however, tipped
the balance the other way, romping up
to par at one time and sinking at the
close only a fraction below. The for
eign market was mostly wrapped up in
the fortunes of the French government
and railway bonds. In which considerable
bear account had accrued Friday. There
was a regular stampede to buy; with
prices consequently closing around the
top and the entire atmosphere wonder
fully clarified and brightened.
Home rails were irregular, with notice
able losses appearing in the middle of
the week. Generally, however, the close
was more satisfactory. Foreign rails
were weak, with the exception of French
railway loans, which recovered sharply
toward the close. , j
Mines were quieter, but firm through
out, the kaffirs giving off, but later
rallying well, other issues holding .a
satisfactory demand.
In oils, where there were signs of a
steadily broadening market, the leaders
found a good deal of Influential support
Public interest is temporarily absent.
however, and consequently some issues
uf fered declines, notably the Rumanians,
though these held above the worst. Royal
Dutch was strong and the Trinidads
teady without attracting much atten
tion of any sort.
. 201 102 101 103
1 54 54 54
. 26 109ft 109 109ft
2 112ft 112ft 112ft
. 206 81ft 76 Sift
70 93 ft 93 93
171 82 76V4 81ft
171 82 78 82
31 99ft 99 99ft
I 47 102 ft 10 10t
12 724 71 72
43 115 113ft 114
35 110 109 110
847 89 84 89
107 102 302 102ft
58 100 . 100 100
' 293 95 ft 94 95
371 95 94 9474
697 101 ft 99 100
1756 98 ft 95 ! 98
88 95 94 95
210 81 79ft 80
139 104 103ft 104
96 100 ft 99 99
163 99 99 99
! 184 96 ft 94 95 ft
22 98 95 98
36 112ft 112 112
360 105 104 105
' 773 76ft T0 75ft
42 104 ft 104 104
1 93 93 93
23 108 J06 108
13 112 111 111
85 103 102 102ft
132 101 99 101
83 121 120ft 120
King of Nrwy Ss. .
King of Sweden 6s
.Far-Lyons-Med 6s
R of Chile 8s, 1946
R of Cuba 5s, 194U
R of TJru 8s
S of Qunslnd 7s. .
S of, Qunslnd 6s. .
Swiss Confed Ss. .
U K of G B & I 5fts,
- XV Ul U D 1 OS,
tt . A '.';; 382 108- ln7i4 "8ft
VJ u, U1 X JE t US,
1S7 566 105 103
U S of Brazil 8s.. 170 101ft 100 101 ft
,j ui jicaico us.. 1S1 o ft 06 ft 58
u o or jviex 4S.... 178 44 42
Railway and Miscellaneous Bonds
Adams Ex 4s 6 SO 80
Alax Rubber 8s... 11 8 97
44
Amer Agr C 7fts
Amer Cot Oil 6s.. . 16 9:
Amer Smelt 6s. .. . 71 95
Amer Sugar, 6s... 389 104
Am T & T tv 6s '. 38S 3 20
AT&T col tr 5s 131 100
A Writ Pr 7s-.. 20 86
Arm & Co 4 ft s . . 73 92
A T & S Fe jren 4. 1 79 OS V.
a- -l ce o r e aaj 4S
At Ct L 1st con 4s
At Ref 6fts
5 6Z O 6S
80
97
65 104 104 104 ft
91ft 91
04 94
103 104
115 119
99 99
85 86
SI 91
92 93 u,
a
15 91ft 90 90
6 103 103 103
82 102 101 101ft
95 87 86 86 ft
63 109 108 108
. . 87 96 06
36 94 93 94
19 99ft 99- 09
54 87 84 87
37 97 96ft , 97
B & O cv 4fts
Bell T of Penn 7s
Beth Steel ref 6s.
Beth Steel p m 6s
Braden Copper 6s.
Bkn Edl gen 7s d
Bkn R T ctfs stDd
Calif G & E 5s . .
Canadian N 6 fts. . 58 113ft 112 ll.'ift
Cent of Ga 6s 7 101 101 101
Cent Leather 5s.. 72 98 98V, 9S
Cent Pacif gtd 4s 54 90 89 90
Cerro 'de Pasco Sc 65 128 126 128
Ches & O sv 5s... 289 98 97ft 08
Ches & O sv 4fts. 49 90ft 00 pftft
C H & Q ref 6s 3 . 124 101 ft 101 101
C & E I 5s 137 84 84 , - 84
C Gt W 4s . . . . . . 96 62 ft 56 59
C M & St P sv4fts 222 76 74ft 74
C M & St P rf4fts 149 6S 67ft 87
C & N 7s 1 109
C N W 6fts... 1 112ft 112 112ft
Chi Rys 5s... 57 82 82 82
C R I & P gen 4s. 15 85 84 84
do let 4s
Chi & W Ind 4s. .
Chile Copper 7s.
Two Inches of Rain at Albany.
ALBANY, Or., Sept. 3. (Special.)
-Only two inches of rain fell in
Albany during August, according to
the local weather observer. One
nd sixteen-hundredths inch of this
amount fell on August 12. Seventeen
days were clear and 14 cloudy. The
maximum , temperature for the
month was 90, the minimum "46.
do 6s 117
Col Ind 0s :
Col & So ref 4ft s.
Col Gas & Elec 5s.
Cons Coal & Md 5s
Cuba C'ne S deb Ss
do 7s
Cuba R R 7fts A. .
Cu Amn Sugar 8s.
Del & Hud cv 5s. .
D & R O imp 5s.
Det Edison ref 6s.
Ost Uni Rys 4fts.
Dlam Match 7fts.
Dlst Sec 5s
DuPont de N 7fta
Duquense Lt 6s...
jrie gen 4s. . . . . .
Erie pr lien 4s....
Fisk Rubber 8s...
Fra. Ind dev 7fts. .
Gen JUlec deb os.
466 85 ,84
aa it 76
62 106 105
s:
77
106
94
77
89
96 ft
91
93
SO
106
95 94 ft
26 7Sft 77
7 90 89
80 96ft 96ft
29 82 ' 91
84 93 ft 92
13 90 89
5 106 105
48 107 106 ft 196
48 98 98 98
42 82 80ft 82
15 104 103 103
150 85ft 84 85
41 108ft 107 108ft
20 46 46 46
72 108ft 108 198ft
ss 104 ft 104 104
257 56 ft 54 ft 64
171 68 ft 65 ft 66 ft
72 107 108 ft 107
64 94 91ft 94ft
15 102ft 101 101
wjoayn os ivai. , . joo .iiius IOO
do 1941 142 115 114 114
Gr Tr R of C Ts... 24 113 113 113
do 6s 61 105 104 105
Gt Nor 7s A 458 113 111 112ft
do 5fts B 175 104ft 103 104
Hud & M ref 6s A. 40 87 88 87
do adj Inc 6s 68 66ft 66 66ft
111 Cent 5fts 43 102 101 102
do ref ,4s.- 19 91 90 90
III Steel deb 4fts.. 25 93 91 93
Ind Steel 6a.. 14 101 100 100
So P R Sugar 7s
s o or cai deb
T & P 1st 6s
Third Ave adj 6s.. 597
do ref 4s
Tide Oils 6ft s ctfs
Tob' Products 7s..
U P 1st 4s
do cv 4s
do ref 4s
93
102
106
94
89
46
106
86
63
84
68
99
101ft
76
105
107
85
112ft
85
53ft
38 38
106 ft 107
106ft 107
56 ft 5?ft
69 69
159 118ft 115 117
11 93 92 93
42 90 89ft 89ft
81 94 ft 94 94
91 108 107ft 107
13 100 100 ft 100
2 90 90 90
23 105 105 105
30 94 93ft 63ft
86 84ft 83 84ft
11 101 100 100
45 94ft 93ft 94 .
32 107ft 107 107
18 1U2 101ft luift
lint
102
94 ft
101ft
33 ft
99
86
102 ft
86
95ft
79 ft
83 ft
89
84
77 ft
74
80 ft
85
78
68
28 ft
45 ft
98
100 ft
09 ft
93
91
89
103
99
1
9
33
17
57
77 38 ft 87
26 99 97ft
1 86 86
14 102 101ft
141 86ft 85ft
95ft
79
84
90 ft
84 ft
78
74
80 ft
86
79 ft
71
30
46 ft
98
S36 100
80 09
96 94
72 93ft
62 91
96 103 102
06 99 8
242
15
95
79 ft
83 ft
89
83
76
74
79
84
77
67ft
27 ft
44 ft
08
99
99
92
. 00ft
88
f Our service to j
investors is
without charge
no matter from whom
you purcLase your
securities.
SttocwritmgA letter renaming of
service by placing your-nmc4ad I
oddrcst here. I
U U Tame
3. Address
Eri r
Cyrus PeirceCompany
1002 Wilcox BldK. PORTLAND Phone Rriwy. 6015
San Francisco Los Angeles Seattle Oakland
' San Diego San Jose Pasadena
Fresno Stockton Sacramento Eureka
71
46 102 100 102ft
64 106 105 106
13 1IS6 98
Union Tank Car 7s
United Drug 8s
U R Inv 1st 5s Pitt
U S Realty 5s
U 3 Rubber 7fts .
do 5s
U S Steel s f 6s . . .
Utah P & L 6s. .-,
Va-Car Chem 7fts
Virginian Ry 6s. ..
Wabash 1st 5s ...
West Elec 5s
West Pacific 5s...
West Union 6fts. .
Westing Elec 7s ..
W & L Erie 4ft..
Wick-Spen St 7s. .
Wil & Co sf 7fts.
do cv 6s
Cze-Slo rep 8s ctfs 127
Dom Can 5s, 1952 486
Rep Bolivia 8s.... 201
C M & St P cv 5s.. 85
E G & F 7 ft s ctfs. 345
I & G N adj 6s WI 730
68
17 66 ft
1.1 104
39 106
00 95
71 9C
25 89 ft
1.) 104
82 112ft 111
66 68
66 66
103 108 ft
105 105
94 ft 05
95 95
89 89
103ft 103
20 91
10 09 ft
141 110
231 90
109 104
96 93 ft
30 105
78 99
2 99
13 1O0 ft
41 87
8 114
89
97 ft
10!)
90
103
92
105
9Sft
99
100 ft
86 ft
111
91
97 ft
109 ft
90 ft
108
113
105
sft
99
100
87
113 113
63 108 107 107
6 76
15 90
67 106
6S 96ft
95
99
99
78
97
54
6
99
105
95 ft
94
99
97ft
76 ft
97
63
76
99
105 ft
116 ft
Ho ,
99ft
99
77
97
54
64 102 101 102 ft
Mo Pacific con 6s.
New Eng T & T
5a. 1952 ctfs 175
Public Service 5s . 14
Sinclair Cr O 6fts. 127
U B & P 6s A ctfs. 35
United Fuel Gas 6s 1
Va Car Ch 7s ctfs. 203
Winchester 71-2s . 70 103
Total sales of bonds for the week were
Jtjt,K4U,V0l.
94
90
99 ft
99
98
99
93 ft
89
99
99 ft
98
8
102 ft
04
89
99
99
98
98
103
890,000,000 FEET
National Forest Timber
for Sale
THE FIRST rflT OF ONE OF THE I.ARFiT t XDKVFI.OPKI)
TRACTS OK YELLOW PI.E THB I'MTF.U jITATKN.
LOCATION AND AMOVNT All the merchantable dead timber stall
ing or down and all the live timber marked or desiKiiateri for
cutting on an area embracing about 67,400 acres In Twp. 15 S.
Ranges 29, 30 and 31 E.. Twp. 1 S., Ranges 2l, 30, 31 and 3i K.
and Twp. 17 S.. Ranges 29. 30 and 31 E., V. M.. .Silvi.s rl-r
watershed, Malheur national forest, Oreunn, estimate.! to le
770,000,000 feet B. M., more or less, of wtstern yellow pine and
120,000,000 feet B. M., more or less, of Douglas fir. western larch,
white fir, lodgupola pine and other species of timber. The cut
ting of other species than western yellow pine to be optional
with the purchaser.
STLNPAUE PRICES Lowest rates considered. $2.73 per M for
western yellow pile and 1.50 per M for other species. Rates to he
readjusted April 1. 1928, and at three-year Intervals thereafter
DEPOSIT $25,000 must be deposited with each bill to be kpp;i-'l
in the purchase price, refunded or retained In part as liquidated
damages, according to conditions of Bale.
FINAL DATK FOR BIDS Sealed bids will be received by the I'is
trict Forester, Portland, Oregon, up to and including February
15.1923.
The right to reject any and all bids reserved.
Before bids are submitted full information concerning the
character of the timber, conditions of sale, deposits and the ul
missison of bids should be obtained from the iMstrict Forester,.
Portland, Oregon, or the Forest Supervisor, John Day, Oregon.
pressure of public opinion against its
continuance and of the well-known fact
that suspension of work was now con
tinued only through the obstinacy of
union leaders, the men being out of
money, wearied with inactivity ind
eager to return.
Looking back at this series or events.
it is easy to see why ail of them were
the logical outcome of the situation. The
complete recovery of financial markets,
after each occasional spajtm of despond
ency, has become so llttte of a mystery
that lt now merely indicates the fact
that cool financial Judgment had again
been able to see the real probabilities of
Country Is Expected to Make Up the situation when public opinion, in its
state 01 nervous apprenension, was in-
FUTURE SEEMS BRIGHT
RAILROADS GETTING CARS
INTO BETTER SHAPE.
for Hesitation in Laying
in Stocks in Summer.
BT ALEXANDER D. NOTES,
(By Chicago Tribune Leased Wire.)
NEW YORK, Sept. 3. The course of
events last week, so far as it affected
the larger economic problems of the
hour, vindicated again the- similar tra
dition that the public mind becomes
most pessimistic over an unpleasant pit
uation at the moment when that situa
tion ia about to change for the better.
Probably the gloomiest day of the season
In Wall street was that on which, two
three weeks ago, th markets mo
mentarilv reflected the prevalent senti
ment of hopelessness over the strikes and
their industrial consequences.
But the bituminous strike was vir
tuaHv terminated only a few days later,
Since then, instead ot announcements or
mills and foundries closing down for
want of fuel, the news began to tell
gradual resumption of work at idle f
naces and at the same time the brother
hoods of operating railway employes em
phatically repudiated all purpose of
sympathetic strike with the railway shop
men.
Similarly, last Monday s market gave
passing reflection to the public's mood of
apprehension under the triple influence
f the intimation or government seizure
of the railways, continuance of the hard
coal strike and the taik of Germany's
economic ruV. But the same week sub
sequently witnessed the government's de
nial of any purpose of federal operation
except In extreme emergency.
Evidence that the railways were rap-
Idly getting the problem of shop repairs
in hand became indisputable. Thurs
day's temporary compromise of the al
lies with Germany followed, and the end
of the anthracite strike was plainly in
ght. It is po-ssibie now, wnen facts
are replacing vague conjecture, to un-
erstand the actual movement of events.
However incomplete the compromise
with Germany, its acceptance neverthe
less shows the unwillingness, even on
he part of France, to force a crisis.
The daily reports on recruiting of rail-
ay shop forces prove that not only are
the new mechanics taking up the work,
but that the older employes are return
ing, a sure sign of a failing strike.
That the anthracite strike should at
the same time have approached its set
figment was a tirf result both of th
capable of doing so
Reasonable forecasts or tlie immedi
ite industrial and financial future must
be conditioned largely on the prong t-
j ness with which fuel supplies are re
stored to a normal working basis on the
i present occasion.' That question will be
determined when the railway's far ill
ties are fairly tested by the siTnuItanouj
lovement or coal in quant i ties la rger
even than in ordinary times, of jb.ln
from the new harvest and of
the traffic in general merchan
dise whfr-h, despite th nuTnrnut Im
pediments of the seanon, ha in one or
two weeks thin summer narlv reached
tlie largest recorded magnitude.
Granting solution of the transportation
problem, it 1h af a to avsuma from ail
the Indices of trade that the country
requirements, whlcn would have Increased
very substantially In any cake this au
tumn will be extremely large as a con
sequence 01 the inldumnur nptanoTT
of producers in accept In g or executing
order. That Industrial revival will pro
ceed at the pace which was imagined
earlier in tlie season In more o,u -scion-able;
trade ban now to contend with the
vihibly Increased a'it)on of foreign bu -er,
with the dilemma of a pniihle cot.
ton chortaKe. and the accompanying high
fx ll le prior, and with the tiorfimgrilv
decreaaed purchases from t he nmm rf
working men who have brn earn In
nothing during the coal and railway
strikr-M.
If this meann only that tha movement
of recovery will be gradual and dHh.
rrat not forced bv the large f stllt im
of credit and a Midden rife of prle1 ir
a utage of excited activity whirh could
onl y invite reftt ion. t hr re will be no
Knod r Hison tor r(rr"t f ing t hat thn
prophecies of an "autumn trade boom"
of large dimenttfonH had not been ful-
lJSLPm:Jkjr.:VX ' M w .-21, :'i
NORTH ATLANTIC & WESTERN S. S. CO.
Sl
JLS I FTTTC.H
illlKISH
(I
WESTBOUND
Portland. M. Boston New York Thll. Bxltlmor, Charli-iton
Ann. 28 Kpt. 1 ti-Pt. .
Krnt. U S-!t. 1 SO
WABAHH Hrpt.28 Oct. I Oct. 6
KASTuorivn fbom Portland
S. Bl.rE TRIANGLE Kpt. I HRVM Oft. t
ARTIC.A8 Sept. M U ABASH owmlut 4
LtlllOH Oct. 4 I t'OI.D HARBOR Nofrmbfl Id
.NE, I'Mrlflc Coaat AcrnU, Krmdoir MIL
01 Third St. THE ADMIRAL
'I
i
North China Line
COLUMBIA PACIFIC SHIPPING COMPANY
Operating T'nltPd Stat Jovrrimnt Ships
DIKECT FRKICiJIT UKRVIf'H ITIIOl T
TRANSSHIPMENT nKTWKKX
POHTLANU. OHKtiOX
and
YOKOHAMA. KORK, MI4NOH4.I, T(KIBR
Tientin IAlHfc',
USSB SS Wet Keats Oct. 1st USSB SS Went Kadr.. . .Nov. lt
YOKOHAMA. KORK. HOXfiKONfJ. MANII.4
ontague Sept. 15th USSB SS KaHtern Sailor. Oct. ..t!t
For rates, space, etc., apply to
TRAFFIC DEPARTMENT
BroariTrar S360 ,KHi-52S Board f Traic Hliln. Portland. Iirrtun
USSB SS Montagu
SAN FRANCISCO & PORTLAND
STEAMSHIP COMPANY
For San Fraaclaco
From Portland Ainsworth Dock
STEAMER ROSE CITY
Tuesday, 10 A. M., Sept. 5
Thursday, 10 A. M., Sept. 14
and every nine days thereafter
PASSAGE FARE FROM PORTLAND
Promenade Deck $28.80
Outside Saloon Deck i 24.40
Inside Saloon Deck 24.00
Third Class (Males Only) 15.00
Round Trip (First Class) 50.00
All fares include berth
and meals while at sea.
AatMMkiles tomtnni by tnsoifeii will to cardial n
Uttnt it tile f 1I.M aw 100 aaaaas, aiiiaaa cal
Itttia aue4 M 20M atanas.
r
City Ticket Office 3rd and Washington
Phone Broadway 5631
Freight Office, Ainsworth Dock
F hone Broadway 02G8
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BTEASrSHTF
Admiral Farragut
from Municipal Dock No.
Wednesday, Sept. 6. 10 A. M.
Every Wednesday thereafter
FOR SAN FRANCISCO
LOS ANGELES BAN DIEGO
STEAMSHIP
Admiral Goodrich
Sept. 5, 7 P. M.
Harshfleld. Iiireka, Ban
Ir'ranciaco.
TICKET OFFICII
101 THIRD WT.. COK. STAJtK
Fbone Broadway S48I
THE DALLES-HOOD RIYEfi
TKAMKR SKRVICK.
FREIGHT A.Ml l'Atil;.;KH
Lt. Portland, Daily Kxcept JSunJay,
7:16 A. Al.
Lv. The Dallea, Daily Kxcept Mon
day. 7:00 A. M.
Fare to The Dallea,
Fare to Hood Itlvrr. ai.oo
The Harklna TrauauorlatloB to,
Foot of Alder tit. ilroadwa 0:144.
AUSTRALIA
NEW ZEALAND AND W)fTM hKA
VIh Tahiti and Itnratonjrit. Mull mnti
pa warn or fivir from hit.il krmncun o
fvery art duy.
ifttcific Tuur, Honth Hrm, w Zalmnt,
AuMi-hIIu, .'ri.V I Irst Mb.
rNION. S. K CO. OF tU' KALA.M),
230 California ht., San KraiirtM-n, or
local fttramnhlp and railroad aencfr.
Telephone Main 7070
The Oregonian
Telephone Main 7070
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