21
TIIE MORNING OREGONIAN. SATURDAY, SEPTEMBER 23, 1923
WAR
SCIRE HITS
FINANCIAL MARKETS
Stock Speculators Repur
chased Declines. ,
ADVANCES MARK CLOSE
N A Ed 6s
C E I 6s
M St P & S S M H 1948
M K & T 43 1090
M P sen 4s 1975
do ref 5a 1926
NYC deb 4s 1!3
do con 4s 18
do ret imp 4s 2013
do cv deb tts 135
N Y N H A H cv 6s 1948
N O Tex & Mex 6s. ........ 1935
N p P L, 4s 1997
X P 6s . 2047
O S L ref 4s 1929
Penna 6Hs 1936
do gen 44s 1W05
do 4 'as I"150
do gen 5s ...... 1963
do 7s -. -. l3W
European Exchanges Show Mod-
Recovery and Ster
ling Loses Slightly.
erate
CBy Chicago Tribune Leased Wire.)
NEW YORK. SnpU 22. What may be
called secondary war scare over the
Turkish dispute probably had some in
fluence on financial markets today, but
Its result was uncertanty and Irregular
ity rather than actual weakness. On the
stock exchange there was quite as much
evidence, during the day, of speculators
repurcnaslng on the decline what they
had previously sold as there was of new
professional selling. The market was in
fact greatly confused ail day; it closed
with as many advances as declines from
Thursday's final prices and with the ad
vances on the whole more substantial
than the declines.
foreign markets moved in much, the
same way as our own; that is to say,
they were irregular and undecided, but
lot distinctly weak; which would appear
to mean mat tne decline In prices ear
ner in tne week had fairly "discounted
whatever was unpleasant in the Euro
pean political situation, also that little or
no fresh apprehension had been caused
oy today s cabled view of affairs from
Constantinople. One interesting fact in
the day's financial markets was the mod.
ra.te recovery in the continental ex
changes along with, the loss of the pre
vious oays 4-cent recovery by sterling.
it has become rather evident that ster
ling la now bearing the brunt of the
pressure caused by remittances from all
European markets to provide for their
puroaases or produce in this oountry.
-r-rioe in tooay s Dona market moved as
Inconsistently, with one another as did
prices of stocks. French, bonds, which
had advanced the day before declined
again today; so did the United Kingdom
Donas. AS a Whole, the dav's finnnr-lal
movement indicated little except the di
vergent and conflicting views of epecula-
witn me atutuae or real Investors
not In evidence. The ft per cent stock
exchange call money market of the day
before was not repeated. As a matter
of fact, the disposition today was to lay
more stress, as a cause for yesterday's
t..uicuiiis in&ritet, on tne sudden de
mand lor money to take out merchan
dise from bond In anticipation of the
higher duties than on withdrawals by
standard Oil company of New Jersey
was one of the features of the listed
etandard.stocks today, gaining Si, points
i eeiung witnin striking distance
of the high level of the year. The rise
In the stock, according to Wall street
opinion, is based upon the belief that the
company, probably within the ntt six
montns. will make anextrs. distrlhiitinn
cither in the form of a stock dividend or
an extra dividend in cash.
The report was also circulated declar
ing that the company contemplated a re
adjustment of the capitalization and in
creasing it to one billion dollars. This
report was followed by an official denial
of the company, but Wall street paid
little attention to the denial. New Jersey
strength was followed by an advance in
other Standard stocks, but some issues in
the eroup sold off on profit taking.
-
For several days rumors have been cir
culated .In the financial district declar
ing that the Pennsylvania Railroad com
pany was contemplating the sale of $50,
000,000 new capital stuck which was to
be offered to stockholders at $50 a share.
Announcement of the sale, according to
report, was awaiting a further advance
In the outstanding stock in order to per.
mit the successful sale of the new issue.
According to reports received in the
financial districts from Philadelphia,
officials of the company were questioned
In regard to the reported offerrings, but
they would neither confirm nor deny the
rumor.
Several years ago, one could hear on
every hand in Wall street the solemn
prediction that the automobile industry
would be a "survival of the fittest," and
that only the best and soundest of the
corporations would continue to operate.
For everyone that has dropped out in the
last year there have been two to take its
place.
Despite the tremendous bulk of the
German circulation, Berlin bankers con
tinue to demonstrate the fact that they
are past-masters at foreign exchange. In
a week in which there have been crowded
an international crisis, an increase in
the German bank rate and a further
tremendous outpouring of German cur
rency, the mark not only has held
steadily, but has even advanced, and
it is not too much to say that some of
the speculators whp sold marks around
the .00 level, for the decline, expecting
to "cover" at about .03 or .04 cents
on the swing downward which was an
ticipated, as the other exchanges pointed
lower, are watching the foreign exchange
market with something of chagrin. The
low of marks this week was touched on
Monday, when they sold at .0694 c. To
day's quotation hovered around the .07
point all day.
.
liberty loans were under moderate
pressure, owing to the scarcity of avail
able lending capital on the stock ex
change and were Blightly lower. The
foreign government group displayed de
cided irregularity with a break of a point
la the French 7 4s featuring. On the
whole, European loans reacted, the most
important loss next to that in French
bends being in British 6'4a in 1937.
This quite naturally reflected the acute
near east troubles.. An exception . was
Norway 8s which rose about a point.
Unusual activity and a striking re
covery in Distillers' Jt Securities 5s was
the overshadowing feature of the cor
poration quarter. The bonds went up 2
points to a new high for the year, pre
dicted on a confident belief that re
organization plans may provide for con
tinuation of the business without liqui
dation. There was also a strong market for
Atlantic Fruit 7s, also involved in a re
organization. Buying of copper con
vertibles continued, with the main gain
shown by Chile Copper 64s. Magma 7s
were under profit taking.
New York Bonds.
Furnished by Jordan, Wentworth
Co. of Portland:
Railroad bonds
Atchison gen 4s 1995
A C Lf 4s 1952
do 7s 1930
B O gold 4s 1948
do con 44s cv 1933
do ref 5s ............. 1995
Cansda Southern 5s 1962
Canadian Nal eq 7s 1935
Canadian Nor C4s ......... 1943
do 7s 4 1940
Central Pacific Is- 4s 194U
Cbes & Ohio cv 4& 1930
do gen 4 "4s 1992
do cv 5s 1048
do con Bs 1930
C. B & Q 111 div 4s 1949
C. A West Ind 4s 31152
C O & W 4s i. 1050
C M & St P 4s 1925
do deb 43 1934
do gen 4s A 19S9
do cv 5s . .... 2014
do g & r 4s A 2014
Reading gen 4s
S A L. 4S
do 5s ......
do 6s A
Sou Ry con 5s......
So Pac cv 4s
do ref 4s . .y
do sf term 4s ....
S P conv 5s
SIL 4 S F P L i!
1997
1950
1949
1945
1994
1929
1955
1950
1934
A 1950
do gen 5s ., 1931
do P L, 5s B 1950
" do gen 6s 1931
do adj 6s 1955
do inc 6s I960
St Li & S W 1st 5s 1952
do con 4s .......x. 1932
do 1st 4s 1H
Tex Pac 1st 5s . . . . 2000
Union Pacific 1st 4s 1947
do cv 4s ................. 1927
do ref 4s 2008
do 6s 1923
Union Tank 7s 1930
Wabash 1st 5s 1939
do 2d 5s 1939
West Pacific 5s . . 1946
M K T adj 5s
Market St Ky,
96 4
85 4
105
84 4
67i
97 Ti
92
85 4
90
107
84
79
80
108
93
11114
94 4
100
101
110
85H
By
27
63
99
3 Yj
81
84
104
751
100
91
104
85
77 Ts
81
78
80
99
84(4
05
89
195
103
100
86
63
89
FDREI6H BfliS SLUMP
DECLINES RANGE TO NEARIiT
FOUR POINTS.
Portland Kallway, Light & Power
One of Few Exceptions
Weakness in Domestics.
to
osn !!
Third A VA mil 5s - .... 66
Alton 8s 35
industrials
l!!!.il Vntlrr fl . IflaS 83
Ami Agr Ch 7s 1941 104
Amn fun lit 5 s 1947 95
mn Toh To 1923 101i
Anaconda 6s A. L 1929 102
do 7s B i 1929 108
Armmir cv 7s -190 IOO
do ,44s 1939 913i
Beaver Board 8s 1933
Beth Steel 7s 1923
do eq 7s , 1935
do ret 5s ., .4 1942
Cerro de Pasco 8s 1931
Chile Conv 6s A 1932
do conv 7s 1923
Copper Exp 8s 1923
do 8s 1924
do Ss 1925
Colo F & I gen fie 1943
Colo Ind 5s T 1934
Cuban Amn Sug 8s 1931
Cuban Cane cv 7s 1930
Distillers ,Sec cv 5s 1927
Diam Match 7s 1935
Dupont 7s 1981
Fisk 8s 1941
Gen Elec deb 6s 1952
do 6s 1640
Goodrich 7s ..-.1925
Goodyear Ss . . 1941
Heinz 7s 1930
Bershey 7s 1930
111 Steel deb 4a 1940
Ind Steel 5s 1952
Int Agr 5s . . . , 1932
Int Marine C T 6B 1941
Kelly Springfield 8 1931
Kennecott 7s 1930
Lack Steel fis 1923
do 1st 5s 1950
Libby McN It 7s 1931
Lis & Myers 5s 1951
do 7s 1944
Lorillard 7s 1951
do 7s 1944
Midvale 5s .. 1939
Morris & Co 7 Vis ........... 1930
Proc & Gamble 7s 1923
Republic I & St 5s 1940
Bdg 6 .... 100
Amn Sugar 6s 103
1061
102
97
127
96
109
102
102S
103
92
78
107
62
107
107
101
106
1U3
118
105
105
73
101
80
BS
108 ft
luo
100
94
102
99
119
98
119
90
106
101
97
Chicago N W sf 5s 1929
do gen 4s 19S7
do tifes 193S
do 7 1930
C R I & P ref 4s 1934
Colo Southern rf ex 4s... 1035
do 4s 192!)
Dei & Hudson cv 5s 1935
do 7s 1930
D & R G cv 4s..., 1930
do ref 5s 1955
3o P U 4s 1996
c con 4s A 1953
do B 1953
do D 1953
Erie Pa C G 1951
Grand Trunk eq 6s 1936
Great Northern 4s 1961
do 7s 1936
Gt Trunk 6s 1936
do 7s 1940
111 Central joint 5s 1963
do ref 4s 1955
K C Southern ref 5s :. 1950
Ken & Des M 1st 5s 1923
IiSM8 4s 193t
L 4 N il 1930
do unl 4s ............... 1940
Sears Roe 7s 1922
do 7s 1923
Steel & Tube 7s 1951
Swift & Co 7s 1925
do 7s 1931
United Drug 8s 1941
U S Rub 1st ref 5s 1947
do 7s 1930
U S Steel sf 5s 1963
Va Chem 5s 1923
Va Car Chem 7s 1932
West Elec os 1922
West U T col Tr 5s 1938
West Union 6s 1936
Wilson 1st 6s 1941
do cv 63 1928
West Elec 7s 1925
Westinghouse 7s:... 1931
Pub ic Ut ities
Amn I-t & Tran Os 1925
Amn Tel coll 4s 192!)
do 5s 1946
do 6s 1925
Bell Tel of Pa 7s 1945
B R T 5s 1945
Cal Gas unl 6s 1937
Cities Service 7s B 1966
de C 1966
do D 1906
Int Met 4s 1956
Int R T ref 5s 1906
Laclede Gas 7s 1930
Mont Power 5s A 1934
Northwest Tel 7s 1941
Pac Tel 5s 1037
Pac Gas os ............ . 1942
Souwest Tel 7s ............. 1926
Oil Bonds
Anglo Amn 7s 1925
Galena S Oil 7s 1930
Gulf Oil 7s 1933
Humble 7s 1923
Pan Amn 7s 1930
Mex Pet cv 8s ,. 1936
Sinclair 7s 1925
8 O Cal 7s 1031
do N Y 7s 1931
Tidewater Oil 6s 1931
vacuum oil is 1936
100
101
100
107
102
in
90
107
103
100
105
100
100
112
101
99
108
108
106
. 92
100
115
106
65
98
131
96
91
16
72
102
99
107
99
94
103
108
106
104
100
102
106
106
105
100
103
lOV
Foreign government Internal bonds-
French Internal 4s
French Victory 5s
Beiffian Reatoratien 5s . .
British 2 oonsols ...
Itai Cons War Loan 5.
L R
Stockholm
Christiania ,.
Copenhagen
Rupees .................
Argentine ..............
Chile
Brazil
Peru
Greek .'
Holland
Spain
Czecho .................
Serbian
Swiss
Finland
Foreign government
Argentine 7a i..
Belgium fis
Bolivia 8s :
Brazil 8s
do 7s
Canada 5s
Chile 8
Czecho-SIovak 8s
Denmark 6s
Dutch East Indies 6s
do 6s
1917
1920
. 1927
. 1947
. 1947
. 1947
. 1952
. 1952
. 1940
. 3951
. 1642
. 1947
mil'
j'rencn titles 6s 1034
Mexico External 5s
do 5s
Netherlands 6s . .
Paris-Lyon-Mdtrn
Kle de Janiero Ss ..
Seine 7s
CurN: bonds -
Allied Packers 6s ..
Am Tel A Tel 6s
do 6s ;
Anaconda Copper 6s
do 7s
Armour & Co 7s ...
Beth Step 7s
Galena Signal Oil 7s
Gulf Oil Co
6s ..
3954
1954
1972
1958
3947-'
1942
3922
1924
1935
49
69
66
51
35
67
26.47
16.85
26. S8
29.50
35.75
13.90
12.55
4.01
2.10
3.87
15.26
3.15
3.32
18.68
2.18
3 02
103
97
102
90
99
103
83
99
95
95
80
55
40
94
74
100
88
81
100
101
101
303
105
302
106
104
Libby McN & Libby 7s 102
So West Te! 7s
Stand Oil N Y 6s .
do 73 . . . ."
Swift & Co 7s
do 7s
Vacuum Oil 7s
Brazil 7b
Elberfeld 5s
Prague 7s 1052
Hamburg 49
Mexico 4s 1045
Yuijo Slavia Rs inr2
Switzerland1 5s 199
. .. 1923
.. 1933
:. 3928
1925
..1931
'." 11)52
1932-52
101
103
109
106
101
102
309
88
1
S3
75
40
91
104
ALL TRADE I.IXES ARE BETTER
Improvement in Jobbing and Retail Busi
ness and in Industries.
NEW YORK. Sept. 22. Bradstreefa
tomorrow will say:
Improvement is the key word in the
general trade and industrial situation,
the use of this term being more wide
spread, than at any time since early last
spring. The cooler weather encouraging
sales of heavy wearing apparel, strike
settlements benefiting business and in
dustry in coal mining and iron and steel
centers, reaching of a final decision
upon the tariff question, anl activity in
building, with all that this latter im
plies in the way of stimulating sales
of lumber, brick, hardware, paints and
allied lines,, were aH cited as causes
for the better 'tone of Jobbing trade ad
vices, also at retail and a better pace
in industry. .
A rally In grain prices.: by which
wheat, corn and oats have been advanced
to the highest levels of the month, this
latter being mainly attributable to war
talk, has been a slight additional stimu
lant, then, too, the number of advances
reported recently in many commodities,
increases having exceeded declines for
three weeks past and food index hav
ing risen for seven weeks past, have
apparently acted as a spur to some buy
ing, although the effect of this has been
more esuecially notable in wholesale and
Jobbing lines.
Weekly bank clearings were $7,453,
174,000.,. .. ,
Cottonseed Oil 'Market.
Cottonseed oil futures -at New York,
furnished by Jordan-Wentworth & Co.,
Portland: September, 8.209.40c; Octo
ber, 8.238.26c; November, 7.737.75c;
December, 7.757.77c; January, 7.85
7.86c; February, 7.07.95c; March, 8.02
ovs.unc. cpot, v.vvc 01a. xotat sales.
92
91
107
86
86
90
100
110
113
113
90
60
90
97
103
92
7S
54
4
60
78
7
68
68
- 60
112
110
86
60
98
100
112
78
47
65
52
52
64
9
107
95
112
104
113
99
60
94
93
63
107
93ti
101 m 1 13.600. .'
NEW YORK. Sept. 22. Depression In
the prices of foreign bonds in response
to the weakened exchange rates and
strain over tne near eastern situation
was the outstanding development in to
day's comparatively active bond market.
Losses of 1 to nearly 1 points took
place In Queensland 8s, Japanese 4s,
French 7s, Belgian 7s and Seine 7s,
while substantial fractional recessions
took place in United Kingdom 6s of
1937, Queensland 6s, Dutch East Indies
6s of 1967, Argentine 6s and Rio de
Janeiro 8s. Cuba government 4s fell
nearly four points.
Weakness in foreign issues extended
to the domestic list, St. Paul convert
ible 4s dropping 1 and declines of
a point taking place In Minneapolis &
St. Louis refunding 4s, Atchison ad
justment 4s stamped, Chesapeake &
Ohio convertible 6s, Norfolk & Western
convertible 6s, Pennsylvania general 6s,
New Haven convertible 6s, Invincible Oil
8s and Chile Copper 7s.
There were a few exceptions to the
downward trend. Distillers' Securities 6s
pushed forward 2 points more, rep
resenting a gain of 14 points during the
week and 80 above the year's lowj
Northern Ohio Traction & Light 6s and
Portland Railway, Light & Power 5s
each were up a point or more and some
Improvement was noted in NassaO Elec
tric 4s, Chile Copper 6s, Remington
Arms 6s and Producers and Refiners 8s.
Liberty issues were inclined to heavi
ness, the fourth 4s yielding 16 points.
Total sales, par value, were $13,432,000.
The principal offering today was an
issue of $5,000,000 4 per cent bonds
of Detroit, which were sold to yield
4 per cent. Reports were current here
that the Northern Pactflo was to offer
between $4,000,000 and $5,000,000 of 4
per cent equipment trust certificates
under the Philadelphia plan.
Prices in today's stock market moved
with an irregular trend with the losses
again exceeding the gains. Trading,
which approximated 1,100,000 Bhares,
was largely professional.
Opening prices were Inclined to sag,
probably as the result of forced liquida
tion due to the unwillingness or inabil
ity of traders to meet overnight margin
calls.
When this selling had been completed
the market rallied, but the bulls were
unable to attract enough support to
carry prices forward and the market fell
baok again, bear traders taking ad
vantage of reports, which later proved
to be erroneous, that the Turks had
entered the neutral zone in the straits.
Short covering by this element added
impetus to the brisk rally in the final
hour which carried several popular
shares above Thursday's closing quotations.
Weakness in rails was attributed in
part to selling orders of foreign origin.
Trading was relatively light, and most
net changes were of a fractional char
acter. Southern Pacific was pushed up
and Rock Island, one of the weak
features yesterday, closed at a gain of
a point.
Standard Oil of New Jersey continued
its upward course, registering a net
gain of 3, while Standard Oil of Call
fornla rose 1. Other changes in the
oil group were unimportant.
Motor shares mads a good recovery
from early weakness, Studebaker im
proving fractionally and Chandler gain
ing nearly two points as a result of
some extensive short covering.
Chile copper continued to show re
sistance to selling pressure, gaining frac
tionally on the day. Mixed changes pre
vailed in other coppers.
Pullman company failed to respond to
the preliminary decision of the Inter
state commerce commission upholding
Its sleeping car . rates, and variable
changes took place in other equipments.
American Radiator was the individual
strong spot of the day, moving agalast
the downward trend to a new 1022 high
at a net gain of more than six points.
Gulf States Steel also pushed forward
to new high ground for the movement,
registering a net gain of 2.
Seasonal demand for funds caused a
firmer tone in the money market. Call
money opened nnd renewed at 6 per
cent, the highest renewal rate since
June 28, and then advanced to 6.
where it held until closing. In the time
money market, brokers bid 4 per cent
for the shorter maturities, but the banks
showed a disposition to place funds for
longer periods at 4 on the theory
that the present firmness is seasonal
and not likely to last. A moderate
amount of new commescial paper was
received here, rates showing a firmer
tendency.
Further weakness in sterling was at
tributed largely to the heavy offering of
commercial bills against export ship
ments, although uneasiness over the
latest developments In the near eastern
situation was a sentimental factor. Ex
port purchases of wheat also had a
stimulating effect on Canadian exchange.
par Dias neing received for Canadian
dollars. Continental rates showed only
nominal changes, mostly downward.
CLOSING STOCK QUOTATIONS.
Furnished by the Overbeck & CooTte
company of Portland:
Sales. High.
Adams Express.. 90O 80
Agr Chem 300 38
Ajax Rubber.... 2,100 13
l.zoo
Erie 2,100 13 15 15
do 1st pfd.... 1.400 24 24 14"
Famous Players. 4,200 07. 85 66
Fed Mng & Sm 12
do pfd........ 1,000 61 59 - 59
Fisk Tire 400 13 13 13
Gen Cigars 1.4O0 80 79 80
Gen Elec 300 178 177 170
Gen Motor . 1.S00 14U 14 14
do 6 84
Gen Asphalt ...12,400 63 61 62
G iddin Pa nt 14
Goodrich T R. -400 33 33 33
Glen Alden 57
Granby 600 30 30 80
Great Nor Or.... 400 39 39 39
do nfd 8.100 62 61 62
Green Cananec ..... 31
Gulf 8 Steel 11,800 85 83 8B
Houston Oib.... 800 79 78 76
Hupp Motor .... 1,300 21 21 21
Ills Cent 1,000 112 111 11-
Inspiration 2,100 40 80 40
Interboro
do Df d . . . ......
Int Harv ...?.
Int Mero Marine
do pfd . .
Int Nickel
Int Paper 2,700
do pfd
Invincible Oil .. 7,400 15 14
Island Oil 1,400
Jewel Tea 100 18 18
K C Southern... 600 23 23
do pfd 300 58 58
Kayser J 600 45 44
Kelly-Spgfld ... 1.500 43 42
Kennecott 8,400 35 34
Keystone Tire... 500 8 8
Lack Steel 1.800 81 81
Lee Tire 300 25 25
Lehleh Valley... TOO 69 68
Lnrillard ' i 174
Loew Theaters. 9,700 22, 21 21
Lima Loco .... 4,800 60 - 59
L & N , 4UO 130 JHO
Marland Oil ... 2.200. 39
Max Mot "A"... 60067
do "B" 300 18
May Stores .... ooo 130
COO 110 110 .
400 14 14
6.900 58 57
4,800 17 16
67 56
89
67
18
129
1
3
11W
34
58
17
67
85
15
18
3
58'
44
35
8
81
5
68
59
13
39
67
18
129
Swift & Co
Tenn Cop & Ch.. '300 10 30
Texas Oil 7,500 47 47
Texas Pac 2.600 29 29
Tex Pac C & O.. 3,400 25 24
Tob Products 6.000 03 62
Tran Contl Oil.. 2,500 14 13
Un Bag & Paper
Union Oil Del... 600 19 10
Union Pac 8,300 151 149
United Alloy.... 2O0 38 38
United Drug.... 400 SO 79
United Fd Prod. 700 6 6
United Fruit 200 149 149
Unl Rds of N J. 00 15 35
do pfd U00 32 32
Unl Ret Stores.. 12,900 82 76
U S C I Pipe... 21)0 83 33
U S Ind Alcohol. 5,600 65 64
U S Rub 17,500 51 49
do 1st pfd 2,900 86 64
U S Smelting
U 8 Steel 3,600 103 102
do pfd 700 122 122
Utah Copper 1,800-68 67
Va Chem 1,100 27 26
do pfd 300 65 65
Vanadium Steel. 9.000 48 47
Vivaudou 600 13 3 3
Wabash 5M' 12 12
do A pfd 6,000 82 31
do B pfd
Alaska Gold
Alaska Juneau..
Allied -Chem .....
Allls-Chalniers ..
do pfd
Am Beet Sugar. .
Am Bosch . . . . .
Am Can Co
do pfd .......
'Am Car & Fay . .
do pfd
tAm Cotton Oil. .
do pfd
Am Drug Synd
-Low.
78
38
13
7,200
4,800
300 104
1,000 4 4
200 40
7,700 60
'ioo 187"
83N 81
56 65
104
43
40
Bid.
80
38
13
1
82
55
103
44
40
500
600
28
53
68 - 59
10S
187 180
121
27 27
53 53
6
Am Hide & Le'a 13
do pfd
Am Ice
Am Intl Corp .. .
Am Linseed..-..
do pfd
Am Loco .......
do pfd
Am Safety Razor
Am Ship & Com.
Am Smelter ....
do pfd
Austin Nichols ,.
Am Steel Fdy ..
Am Sugar ......
do pfd
Am Sumatra....
Am Tel & Tel . .
Am Tobacco
do
700 133
8,200 35
400
300
7,900
30
55
600 7
2,500 21
2,400 62
300 102
6,800 38
4.400 44
2,500 81
IOO 110
1.10O 42
8,000 122
too 11
'B" 400 157
O.lOO 99
300 109
20O 32
4-00 19
900 53
500 118
7,600
400
3,500
Am Wool
do pfd
do P pfd
Am Zinc .......
Anaconda
Aasd Oil
Atchison- ......
do pfd ."V. . . .
Atl Coaat l!ne.
Atl Gulf & W I
Baldwin Loco..
do, pfd
Baltl & Ohio ..
do pfd
Barns Corp "A"
do "B"
Beth Steel "B"
Booth Fish ....
B R T
Butte C & z. . .
Butte & Sup. . ,
Burns Bros "A"
do "B"
Caddo Oil
Caiif Packing .
Calif Pet
do pfd
Callahan Z & L
Canadian Pac .
Cen Leather . .
Cerro de Pasco
Chandler Motor
Chicago & N W
Chgo Gt W
do pfd 900
Chill Cop 14,800
Chino 1.20O
C M St P 2,800
do pfd 6.200
111
33
30
55
121
"Y'
21
61
102
35
43
79
110
38
121
160
157
87
108 107
31 32
19 19
52 53
116 117
68
112
34
36
55
122
116
6
21
61
102
87
43
79
HO
39
121
161
157
98
6,400 104 103 104
200 92
300 119
1,400 30
3,500 135
56
65
40
92
119
29
132
64
63
37
4,800 76
800 9
2,300 24
100 7 .
2,800 82
700 137
1WJ , 47'
10
83
62
2K
400
1,800
1.000
5,700
2,200
2,800
6,100
3,300
75
9
24-
7
SI
136 -47
10
83
61
91
119
30
133
115
55
65
39
26
76 .
9
146
41
40
60
92
Coco Cols,
C & o
Colo F & 1
Colo Southern...
Co! Gas & Elec.
Columbia Graph.
5.700
4,400
600
300
14
26
30
33
51
68
74
83
48
24
7
32
136
47
10
S3
02
93
8
143 144
40 41
38 39
58 60
91 91
n
14
25
29
83
50
68
73
33
43
14
25.
29
32
49
67
73
33
48
Mex Pet 19.100 187 184 186
Mar Seaboard .. 3.080 21 20 21
Miami 700 29 28 28
Mid States Oil.. 8,600 13 13 33
Midvale Steel... 2.500 85 34 34
M K & T Wi 300 18 18 18V
Mack Truck ... 2.400 57 66 67
Mont Power ... 400 73 73 73
Mont Ward -.'v. 3.100 22 22 22
Mo Pac 1,500 22 21 21
do pfd 4,000 68 68 69
M St P & 8 3 M 70
Nat Biscuit .... 100 158 158 157
Nat Enamel ... 4,700 61 59 61
Nat Lead ......
Nevada Con ...
New Haven ....
Norfolk Ic W...
Nor Ameriean...
Nor Pac
Nova Scotia Steel
NY Air Brake.. ooo su a as
N Y Central.... 7,800 98 87 97
Okla Prod ref... 1.800 2 2 -2
Orpheum 2,000 24 28 23
Ontario W ... .-. z
Otis Steel 100 -10 10 10
Pacific Dev 400 4 4 4
Pac Gas & Eieo. 1.800 86 48 85
Pacific Oil .... 5,000 67 55 66
Pan Am Pet ...15,800 79 77 ,79
do "B" 8.200 74 73 74
Penna 4.800 48 48 48
Penna Sea Steel 1,200 6 6 6
Peo Gas l.aoo 93 4 5
Pare Marauette. 1.500 87 38 87
Philadelphia Co. 1.800 45 44 44
Phillips Pete. ..10.400 61 . 49 -50
Plerce-Arrow ... 2.50O 13 12 13
Pierce Oil 2,700 6 6 6
Pitts Coal . 900 69 69 69
Pitts & W Va .. 1.400 88 37 37
Pressed Steel C. 1,000 00 88 88
100 158 158
4.700 61 59
400 104 103 104
200 16 16 16
6,000 31 30 30
1,700 119 118 118
3.UOO H4"A U3 V
4,000 86 85 85
IOO 36 3 3K
600 89 38
Punta Alegre . . '. . 46
Pullman 7.400 182 1304 131
Pure Oil 3,300 32 31 31
Ray Cons 2,700
Reading ...... 5,200
Remington .... 200
Replogle Steel.. 1,000
Republic I & S. 5,500
do Pfd 100
Rep Motors . . . 200
Royal Dutch Oil 8,900
Ry Steel Spg
Saxon Motors
Sears Robuok ..1,200
Shattuck & Ariz 100
Shell T & T
Sinclair 1,500
Sloss Shef 400
Sou Pacific 17.300
Sou By 2,100 25
5-90 62
Cal. .12.400 116
117 116
196 191
do Ky 107 107
St L & 3 F..'... 1,300 29 28
Stromberg Carb. 300 61 51
Studebaker 89,000 126 124
15
78
36
33
67
91.
4
58
1.000 118
1,300 4
89
9
'S4
48
94
do Dfd
Stand Oil
do ind ....... ....
do N J 18,400
15
77
38
32
65
81
4
67
117
4
88
8
'33
48
93
25
62
114
Wells Fargo.
Western Pac. . ..
do tfd
Western Union..
West'house A B.
do E A M
West Md
White Eag Oil.
White Motors...
White Oil
Willys-Overld . .
do Dfd
Wilson Pkg
Wisconsin Cent
Woolworth
Worthtn Pump..
W & L E
300 17 17
100 116
200 103
8,100 63
l.huo
1.0O0
1.000
1.O00
8,000
8 00
900
40O
100 184'
600 42
600 18
14
81
6U
8
7
44 .
47
15
86
32
ee
80
3
58
11 1
4
88
39
33
47
94
25
62
115
117
195
1U7
28
51 T
126
109
8
47
29
25
13
15
19i
149
8S
79
6
149
10
82
81
83
64
50
o
42
103
122
67
26
65
47
13
12
31
60
37
03
116 115
103 102
02 62
14
81
49
8
6
44
47
so
184
41
13
14
81
49
8
6
48
47
2
184
41
18
Liberty Bond Quotations
Liberty bond and victory loan quota
tlons furnished by the Overbeck & Cooke
company of Portland: Closing
ooen. High. Low. Bid.
Liberty 3s ..101.46 1O1.5O1O1.32 101.3O
do 1st 4s n00.30
do 2d 4s 100.02
do 1st 4 s... IOO. 56 100.60100.60100.64
do 2d 4s... 100.16 100.16 100.08 100.10
do 3d 4.. .100.24 100.28 1O0.20 100.20
do 4th 4s. .100.60 10O.6O 100.46 100.50
Vic 4s call ..100.84 100.84 100.80 300.80
do 4, 1923. lOO.TZ 10O.72 IOO.66 100.64
, Money, Silver, Ec.
NTSW YORK, Sept. 22. Call money
easier; high 5 per cent, low 5 per cent;
ruling rate, 6 per cent; closing bid, 5
per cent; offered at 6 per cent: last loan.
per cent ; can loans against accept
ances. 4 per cent.
Time loans firm; mixed collateral. 60-
90 days. 4 per cent; rour to o months;
4 per cent.
J Time commercial paper, 4si4 per
cent-
Foreign bar silver. 69c.
Mexican dollars, 53c.
LONDON, Sept 22. Bar silver, .35 d
per ounce.
Money, 1 per cent
Discount rates Short bins, 2 per
cent; three) months' bills, 2i7 1-16 per
cent.
. I
Foreign Exchange.
Foreign exchange rates at the close of
basiness yesterday, lurnisnea oy ive?rtn
western National bank of Portland. The
amount quoted Is the equivalent of the
foreign unit in United States funds
country unit. ' itate.
Austria, kronen $ .000020
Belgium, francs .072300
Bulgaria, leva 007000
Czecho-Slovakia, kronen 032300
.211500
4.432500
.022200
.070000
.000775
.025500
.387700
.000700
.042500
.00300
.169000
.054500
.007000
.016200
.153200
.205500
.187000
.575500
.780000
Denmark, kroner
England, pound sterling
Finland, finmark
France, francs
Germany, marks
Greece, drachmas .............
Holland, guilders
Hungary, kronen ..............
Ital v. lire
Jugo-Slavia. kronen
orway. kroner
Portugal, escudos ..............
Roumanlft, lei .................
Serbia, dlnara
Spain, pesetas
Sweden, kronor ,
Switzerland, francs
China-Hongkong, local currency
Shanghai, taels
Japan, yen 490000
8,200 109 107 109
1,600 3
Cons Textile
Contl Can .,
Corn Prod .
. do pfd . . . .
Cosden Oil .
C R I A P..
do A pfd.
do B pfd.
Crucible T.200
do pfd r.
Cuba Cane 500
do pfd 300
Ctiiban Amn Sug" 3,100
Davison Chem. . 600
Del & Hudson.. 400 137
Del & Lack 100 133
Dome Mines 100 3 7
Elec Stcr Battry l.Rno 50
d Eodicott Johofioa 3,000 . Ai
S
139
38
78
10
ss
3
Con Gas 13,200 140 138
Cons Cigars .... 1,900 39. 38
uo ptu
.. 1,100 30 30
. 2.3 00 88 S5
.. 7,700 115 113 114
117
..15,600 50 49 50
..17,400 45 44 45
400 102 102 102
23
49
33
35
22
49
135
133
37
49
v4
88
. 95
33
35
35
135
1.'13
37
4UU
84
NEW YORK,
change, heavy;
$4.41; cables.
banks, S4.BW4.
cables. 7.58.
cables, 4.19.
cables. 7.18.
.07 1-16; cables,
Sept 22. Foreign ex
Great Britain, demand,
(4.41; 60-day bills on
France, demand, 7.58;
Italy, demand, 4.19;
Belgium, demand, 7.18;
Germany, demand,
07. Holland, demand
38.65; cables, 38.71. Norway, demand,
Iflfta Sweden, demand. 26.50. Denmark.
'demand, 20.82. Switzerland, demand.
18.64. Spam, demand, 15. x. ureecfty
derriand, 2.85. Poland, demand, .01 .
Czecho-Slovakia, demand, 3.20. Argen
tina, demand, 85.40. Brazil, demand,
12.12. Montreal, 99 31-32.
Standard Oil Stocks.
Standard Oil stocks furnished by the
Overbeck & Cooke company of Portland:
Bid. Asked.
VnglO 20 20
Borne Scrysmer . 425 430
Buckeye 97 99
Gheesebrough 395 205
do pfd. 310 115
Continental ...144 147
Crescent 35 37
Cumberland ............. -.18 - 153
Eureka 95 07
Galena, com. ............ . 53 56
do Old pfd 108 112
do new pfd 103 105
Illinois Pipe 170 174
Indiana Pipe 96 88
National Transit 26 27
N Y Transit 170 175
Northern Pipe 107 109
Ohio Oil 302 805
Inetrnatlonal Pete 21 21
Penn Mex 26 29
Prairie Oil 630 640
I-rairie Pipe 273 277
Solar Refg -.860 370
southern Pipe 96 ' 98 '
South Penn Oil 215 225
W Penn Oil 60 65
S O Indiana 116 116
do Kansas. .............. .675 585
do Kentucky 307 .108
do New York 495 60O
do Ohio-' 480 , 490
do pfd. 113 119 .
Swan & Finch 32 3
Vacuum 495 600
Washington 22 25
5 O Nebraska 1S8 192
Imperial Oil 110 111
Swift A Co. Stocks.
Closing prices of Swift & Co. stocks at
Chicago were reported by the Overbeck
6 Cooke company of Portland as follows:
Swift & Co 108
Swift International 23
Libby, McNeil & Libby, new 7
National Leather, new . . 7
Mining Stocks at Boston.
Mining stock quotations at Boston,
furnished by the Overbeck & Cooke com
pany of Portland: Bid. ABked.
Arizona Comm 7 8
A Hones 4 25
Arcadian 2
Bingham Mns 17
Calumet & Arizona 60
Calumet & Hecla 280
New Cornelia 17
Centennial 9
Copper Range 40
Davis Daly 4
East Butte 10
Franklin Mining 2
Hancock 2
Helvetia 1
Island Creek 104
Keweenaw 2
Kerr Lake 8
Lake Copper 1 3
La Salle J
Michigan 2
juonawK ................... nit
Mayold Colony
Mason Valley
North Butte
North Lake
Old Dominion Copper
Osceola Mining ......
Ojlbway .............
Isle Royal
South Lake ,
Supp Boston
Uni Shoe Mch
do pfd
South Utah
Superior Copper
Tuolumne ...........
Utah Metals
U 8 Mining
do pfd
TJtah Apex
Ventura
3
1
11
20
23
23
2
23
44
1
43
26
2
4
65
1
41
48
2
2RU.
................... 114
Wolverine ................. 30
Wyandotte 60
- JForergn conn.
"aturitv. Bid.
Belgian Rest 6s 1919 63
do Prem 5s 3920 68
do 7s , 3945 104
do 6s 1925 99
Brazil 8s 1041 102
do 7s .." 1952 91
British 3s t 1922 88
do 5a 1927 81 -
do 5s 1929 61
do Vky 4s 1919 75
U K 5s 1922 100
"do 5s 19-9 107
do 6 s 1037 10.3
Bordeaux 6s 3 934 811
Canadian 6s ........ ..1926 89
do 5s 1927 D
do 5s 1929 101
do 5s 1937 99
do 5s 1931 100
Chinese 5s. 1931 52
Chile 8s 1941 104
French, 4s 1937 48
do 5s 1920 69
do 5s 1931 59
do 7s 1941 87
do 8s 1945 10O '
German W L 5s 40
Berlin 4s . . .60
Hamburg 4s .50
do 4s 50
Leipsig 48 50
do 5s 50
Munich 4s 1... 1 .75
do 5s .75
Frankfort 4s 75
Italian 5s 1018
3
18
61
285
18
10
40
4
10
2
2
1
105
2
4
4
1
.'I
60
3
11
60
24
23
2
24
45
1
43
27
7
4
65
1
42
48
3
29
1
11 .
80
Ask.
65
72
305
92
90
64
64
77
S4
Jap 4s 1031 81
do 1st 48 1925 98
do 2d 4s .1925 93
Norway 8s .... 1840 111
Swedish OS 1939 104
Denmark 6s ........ 3842 98
do 6s 1945 110
Russian 5s 1621 13
do 5s . 1926 1
Sao Paulo 8s 1H36 102
Swiss 5s 3929 104
do 8s 1040 121
do 8s . . . 1040 121
German bonds quoted in dollars and
cents.
107
103
81
100
300
102
300
100
54
104
71
71
60
97
100
.70
' .'.(0
1.00
1.0O
1.00
1.25
1.23
1.25
1.25
35
85Vi
03
94
112
105
99
111
16
2
103
105
3 02
12
VALLEY LIBS LIFTED
iVLIi GRADES AT YARDS HALF
DOLIiAR HIGHER.
Good Cattle Steady, While Poor
Quality Drops; Supplies Do
Wot C lea n Vp .
jfo cattle were received at the yard
yesterday, but there was held-over stock
from 'Wednesday and some of this was
still on hand when the yards closed.
There was a market for good cattle.
hlch sold at steady prices, but the
poorer grades dragged.
Strength was apparent in the lamo
and sheep divisions. Valley lambs were
quoted 3Q cents higher, with -the best on
parity with atock from, east or the
mountains.
The -hog market was steady and un
changed.
Receipts were Sv hogra and 362 sheep.
The day s sales were as follows
Where
- of taxation fall
sassnssnsi esssseseesssesBsnessnsssssssssssssBssensssssei ssssssssssssssssss
Nearly onejourih of all the city's taxes is
v paid by 1-300 of its area
WITHIN the area' shown in the accompanying diagram
there are 89 city blocks, about 1300 of Portland's 66.6
square miles.
Yet, despite their very small proportion to the city's total
area, these 89 blocks pay nearly one fourth of all city taxes
levied on private property.
Think of the burden this small district of high, concen
trated values is carrying! It is virtually the "nerve center" of
Portland. It is affected every time a new bridge isproposed,
every time a new road is considered even though that road
be on the other side of the county.
Ownership of property with
in this area requires accurate
knowledge of the cause and
effect of all factors involved.
Often it happens, as now, that
fundamental changes are quiet
ly working, unseen by many un
til the results are beyond con
trol. Property values are thus
made and lost.
Our experience is at your dis
posal. We welcome the oppor
tunity to make an appoint
ment to discuss your property
problems with you.
The 89 blocks shown is this diagram
about 1-300 of Portland's total area,
pay 23 per cent of all city taxes.
Eleventh
UUUUi
nnn
LJ ll Ll L-J Ll ll lJ
I - Mar-
rrnnnorin
on
nnn" ntiA
com a I
Strong & MacNaughton
rErrJt CORBETT BUILDING rp7
gl PORTLAND, OREGON IJwi
Investment and Property Man
agers for Estates and Individuals
8 steers.
7 steers.
3 steera.
1 st-eer. .
1 steer. .
1 cow. . .
9 cows. .
18 hogs. .
18 hogs. .
18 bogs. .
20 hogs. .
16 hogs..
16 hogs. .
20 hogs. .
1 hog. .
8 hogs. .
18 hogs..
15 hogs. .
11 hogs. .
14 hogs. .
4 hogs. .
2 hogs. .
10 hogs. .
I hog...
12 hogs. ..
24 hogs. .
11 hogs. .
20 hogs. .
4 hoga. .
1 hog
Wgt. Pes.
1045 J4.50
1101 6.60!
733
1250
1090
930
662
4.50
6.00
o.ool
4.00
8 lambs..
154 Iambs.
60 lambs.
10 lambs.
2 lambs. .
140 lambs
4.00 1 ewe. . .
1 ewe. . .
1- ewe . . .
23 yearl. .
1 buck..
18 hogs. . .
1 hog. ..
1 hog. . .
24 hogs. .
2 hogs. .
14 hogs. .
2 steers.
2 steers.
2 steers.
82 lamtw.
8 lambs.
9 lambs.
Wgh. Pee.
70 18.30
71 11.00
66 8.00
97 8.60
110 8.00
86 11.00
90 2.O0
100 6.O0
170 4.00
85 7.60
1RO 2.00
250 10.60
260 6.60
3 30 8.00
240 30.00
ISO 11.50
231 10.60
965 6.75
1460 6.75
1370 7.00
68 11.00
86 9.50
68 8 00
81 6.00
120 6.00
125 7.00
85 10.50
R4 11.00
96 8.00
11S 8.00
the Port-
231 10.5OI
254 10.85
255 10.601
285 10.60
239 10.60!
202 10.75
248 10.60!
290 8.601
231 10.75
238 ITJ.7,I
251 lO-SlT
238 10.60
235 10.75
240 10.50
266 10.60
235 10.75
420 8.50182 ewes.
232 10.65120 ews...
225 10.751 2 wethers
252 10.60122 lambs.
248 10.75175 lambs.
255 10.751 8 yearl. .
270 10.7o16 mixed.
Price Quoted yesterday at
land Union stockyards were as follows:
rfttu
Choice toers I T.508 8.00
Medium to good steers 6.75 7.50
Fair ta medium steers 6.75 6.75
Common to fair steers ..... 4.00 ? 5.75
Choice cows and heifers e.OOifc 6.00
Med. to good cows, heirers. 3.oog 4.50
Fair medium cows, heifers. .. 3.006 8.50
Common cows" 2.00 3.00
Canners 1.50 2.00
Bulls ' 8.00 4.00
Choice feeders 5.00 6.50
Fair to good feeders 4.003c 0.00
Choice dairy calves ...-... 8.R04D 6.50
Prime light calves 7.00 8 00
Medium to light calves ...... T.OOfs 8.00
Heavy calves 6.00 7.00
Common heavy calves 4.00 5.00
Hotts
Prima light 31.00iffll1.fl0
Smooth heavy, zuu'iraw 10s. lu.vuifl m.ou
Smooth heavy, 3O0 lbs. up... 8.00 & 10.00
Rough heavy 7.00W a. 00
Fat pigs 30.5O&11.0O
Feeder pigs lO.SO&ll.OO
Stags, subject to change ... 5.00 7.50
Sheen
East-of-mountaln lambs .... 30.00011.00
Choice of valley lambs 10.00tl.OO
Medium valley lambs 8.00 10.00
Common valley lambs 8.00& 9.00
Cull lambs 7.00 8.00
Light yearlings B.OOSfl 8.50
Heavy yearlings 7.50 8 00
Light wethers 6.50(9 7.50
Heavy wethers 5.60 8 60
Ewes 2.00 6.00
Chleaco Livestock Market.
CHICAGO. Sept. 23. (U. S. Depart
ment of Agriculture.) tattle Receipts,
5000; slow; generally steady on all
classes; some weakness apparent on veal
calvea and bulls; choice matured beef
steers and yearlings comparatively
caree: early top beef steers, 811.65: bulk
of quality and condition to sell at $9.35 &
10.75; western grassers in ngnt supply;
hulk bologna bulls. $4 4.25; bulk de
sirable vealers, f 12.50 13 to packers.
Hogs Receipts, 18,000; desirable ngnt
and butchers very scarce, 25 cents higher;
others 10a-5 cents hiuheri bulk 130 to
250-pound averages, 10.3010.30; top,
$10.40; 270 to 300-pound botchers, $9.80
0 10; bulk packing sows, $7.75?M.50;
pigs mostly $99GO; heavy, $910.20;
medinm, $9.7510.80; light, 10&10.40;
light lights, $9.6510.10; packing sows,
smooth, $88.75; packing sows, rough,
$7.258.10; killing pigs, IS.75W9.05.
Sheep Receipts, 9O00; fat lambs strong
to 25 cents higher; early top natives,
$14.75 to packers; bulk natives. $14 to
$14.50; culls mostly $9.50; sheep and
feeders' firm; eight .cars Washington
lambs, mostly 'feeders, sold to arrive at
$14.35; desirable Montana feeding lambs.
$14.25; few good fat 96-pound Oregon
yearling wethers, $11.75; best fat ewes
$7.00.
Kansas City livestock Market.
KANSAS CITY. Mo., Sept. 22. (U. S.
Department uf Agriculture.) Cattle
Receipts, 5000; canners strong, generally
$2. 501' 3; beef steers, stoekers and feed
ers steady to lower; calves steady to
weak, with practically nothing doing on
heavies and medium weights; other
classes steady, with no demand for Mock
calves; early sales steers, $4.557.25;
odd load feed offering. $9; moat common
to medium cows, $4(&i5; early good grass
heifers, $6 254 -best vealers around $11.
Hogs Receipts, 3000; fairly active. 10
120 cents higher; shipper top, $9.75;
packer top, $9.65; 140(9. 160-pounders,
$9.25JF9.85; 1 80i 240-poundera, mostly
$9.509.70; 250 300 - pounders. $9.30
9.60; . bulk, $9.109.65; packing sow
steady; bulk, $7.75a8: one smooth load,
$3.25; stock pigs steady; mostly $98.33.
Sheep Receipts, 4000: killing classes
steady to 25 t:ents lower; Utah lambs.
$14.75; bulk range lambs, $14.25 S 14. 75 ;
Colorado ewes. $5.756.
Omaha livestock Market.
OMAHA, Neb.. Sept. 22. (U. S. De
partment of Agriculture.) Hogs Re
ceipts, 6000; active; packing grades 25
85 cents higher; bulk, H8.50; 200 to
300-pound butchers. 15 25 cents higher;
bulk, $8.859.60; top, $9.75.
Cattle Receipts, 160O; all classes of
cattle generally steady: foil loads of
corn-fed .beeves up to $11. 05; few head
prime yearlings at extreme top of. $11.35.
Sheep Receipts, 6O00; fat lambs steady
to strong; bulk westorn, $ 14.25i(j 14.35 ;
natives, $14.25; clipped, $13.40: sheep
steady; feeders strong to higher; top,
$14.20.
San Francisco Livestock Market.
SAN FRANCISCO, Sept. 22. (Quota
tions furnished by federal-state live
stock market news service. baed on
prices off cars at San Francisco.) Cattle
Market strong and active ; beef steers,
good grads, $7. 75 8; medium grade, $"i?)
7.50; common grade, $6&6.75; beef cows,
good grade, $5.758; medium grade,
$5.255.60; common grade, $45; can
ners and cutters. $23.50; bologna bulls,
$2.50t34.
Calves Market slow and steady; 150
to 200 pounds, good and choice. $3.50$f9:
200 to 250 pounds, good and cnoice,
$7.608.50: 250 to 300 pounds, good and
choice, $8.607.50; over 800 pounds,
$5.50S6.50.
Hogs Market dull. valui frar?y
steady; food and choice grain-fed Cali
fornia. 160 to 200 pounds. $11 3 II. SO;
200 to 230 pounds. HO.iOiell: 250 to 800
pounds. I9.50W10B0; over 800 poundi.
$3. 50 ft' 9. 50; smooth sows. 250 to i0
pounds, $i'ff7.50; rough iowi, I'.'O to shi
pounds, $6ll8.50; over 300 pounds. $516.
Sheep and lambs, full-wooied Market
steady; lambs, good and choice grdB.
$1 1.50 M 12; medium grade. $111 11.60;
ewea, medium and good. $54?6; wethers,
mertlum and good, $7r3.50; yearling
wsthers, none offered.
Keattle IJveslock Market.
. SKATTLK. Sept. 22. Hogs snd cattle
steady; no receipts: prices unchanged. -
Fasco Livestock Market.
PASCO UNION STOCKYARDS. Sept.
22. Large runs of good quality feeder
cattle, both steers snd shs stork, gave
buyera an opportunity to till their wunta
for both range and feed lots. Heavy re
ceipts in the feeder cattle section can be
expected for the Immed'tate future. Prices
held steady throughout the week. There
were no hog on the market, but prices
are bid steady with a week ago snd a
good outlet could be had for a moderate
run of feeder pigs. Fair 'receipts In the
sheep section were reported. Aotive bid
ding took place on all offerings, cleaning
the pens daily. A large run of good
breeding ewes is reported for next week.
Prices on ahep and lambs are fully 73
cents higher than a week ago.
Cattle' Receipts). 456; prime steers,
$6-50f&7; good to choice. $u&6.50; com
mon to fair, $5.50 i; feeder steere, 83
6.75; choice cows, $44.75; cholre heif
ers. $4.6005 50; feeder cows. $368.73;
stocker yearlings, $444.SO.
Hoga Receipts, none; prime light. $0
4910; smooth heavies, $8i9: rough
heavies. t'H: feeder pigs, $8,730)9.50.
Pheep Receipts, 810; prime lamba, $10
8 11 ; good to choice, 10; feeder
lamba, !).50rl0; choice ewes. M.60n3;
yearlings, $7&7.50; breeding ewes, $9
12 per head.
Metal Market.
NEW YORK, 6pt. 22 Copper Dull;
p!TtrnlvtliT"tBn1 fnfrpv 14rv
Tin Firm; spot sad tutur, 12 30
S2 62r.
Iron Htenrtv: pHcee onehnd.
Ix.d mrong; spot, n.3C.7e.
Z111. cjuln : Kat St. l.ouie spot sad
nearby delivery, 6. so w H 850.
Antimony upot, 7."Oc
VKW YORK", "eft S3 Th American
Smeltlnr lieflnlng compeny today ad
vanced the price of lead from loo is
6. 25c a pound.
QIOTATIONS OS DA IKY I'ROniCTJ
Current Market Ruling so Ilulter,
Che and ICgge.
PAN FRANCISCO. Kept. 2 tV. B.
Bureau of Agricultural rVonomlrs )
Butter Kxtraa, 52c; prime first. 434c;
firsts, 61i
Kkks Kxtres. 61c: prime firsts. 44";
firsts, 34o: extra pullets, I7e; under
lined put.etfl. No. I, 37".
Cheese California 'let, fancy. 22Se;
firsts, 24c; California Young America,
fancy, 2Hc.
N K IV TORK, Sept. 52 Butter
Strong; creamery hlhr then .wires.
434tt44o: creamery extrea, 42t4e.
Kg Firm, l'sclflo coast while, ex
tras, 68c.
C'hene Firm.
Live poultry Weak: rhi-kn t.y
frelicht. 20u 2uc: by expr.se. 24 It 27. -;
dressed, firm: western chirkens, !!Mv.
old rooster. 1 -''
CHICAGO. Sept. 22 Putter, blgfler;
cr.aiu.ry extra. 41o; first. 3.1 j .' . -tra
first, 7(40c; aecouds, JltiJ-c;
atandn-rds. 3c.
Kmb Higher; retpt. s.via r:
first. 28ac; oMInerv first. 2tn2- -.
miscellaneous, il72c; refrigerator,
first. H5 tt ib 4 c
SEATTLE. Sept. 22. Butter and egg,
unchanged
rhon. your want d to The ore
gonlan. All its readers are Inter
lereHf In the classified rnllimni
STATEMENT
Of Income and Expenses for
nine months ending August 31, 1922
"In
escrow
99
is a conditional delivery
of a deed or other in
strument through a .
third and disinterested
party. Title passes upon . '
fulfillment of an agreed
condition. . 'V
OUR ESCROW DE
PARTMENT is an experienced, impartial
agency for such transactions.
Through us, the wishes of all
parties to a deal can be adjusted
simultaneously and the interests
of all fully protected.
Inquiries solicited.
Title and Trust
COMPANY
91 Fourth St. Broadway 8565
M0ER1S BROTIERS CORPOMHON
Government and Municipal Bonds
morris building pnrtlaT.H Orio0hTi ?i,5IRJJ
BROADWAY 2151 X UL UdilU,Vl UgUll SAf DEPOSIT BOXES
Profit on sales .280,217.CC
Other income, including interest on
bonds sold 107,064.33
Total income $387,781.63
Income charges, including
interest on bonds pur
chased : 82,302.45
Expense of operations... 115,181.64
Total income charges and expense. $197,484.09
Net profit on operations $190,297.50
Jas. C. Cunning-ham... , President
J. M. Clapp - Vice-President
John I. Ktheridge Vise-President and Manager
Charles Cleveland Treasurer
N. C. Jagsrar Secretary
John B. Shute. . . Asst. Secretary
V. U. Coleman I Auditor
A, U Taylor Cashier
SAFE DEPOSIT VAULTS