FOREIGN EXCHANGE
FLUCTUATES SOME
Decline in Early Trading Is
Followed by Recovery.
FRENCH BONDS SENSITIVE
Secnrities Advance at New York
While Decline Noted at Paris;
Speculative Activity Seen.
(By Chicago Tribune Leased Wire.)
NEW YORK", Sept. 29. Insofar as the
financial unsettlement has been a conse
quence of the dispute with Turkey, the
recovery in today's markets musts be
considered aa reflecting, not a change in
the aspect of that singular controversy
na tn whether the market s
movement might not take too much for
mi,t.ri Thr have been few war
scares" or diplomatic deadlocks in the
experience of seasoned financiers which
have been, surrounded by such obscurity
an this in the matter ol actual mouveo.
indeed of actual facts.
Tha confusing considerations which
1 ve accompanied every stage of the
episode have naturally opened the way
to financial uneasiness. If only because of
tle free play they gave to imagination,
ymt- thnr huvA aIko left even the un-
pleasant conclusions in an atmosphere- of
uncertainty. All tnis was piaamy jimi
c&ted. in the course of today's markets.
Foreign Sxchange Declines.
Foreign exchange rates again declined
In the early trading yet again regained
most or all of the lost ground before the
close. The stock market declined sharply
at the start, but its recovery was so con
siderable as to leave most prices at
set advance for the day...
French government bonds have seemed
ell the week to be the most sensitive of
standard securities to the eastern de
velopments; today they advanced at New
York while they declined at Saris and
the United Kingdom bonds moved slmi
larly on the whole. The day's movement
suggested the preponderance of purely
speculative activity oh all the markets.
together with the presence of genuine
buyers on the decline.
The change In front from the weak
ness of the preceding day was most no
ticeable in today's bond market, where
it certainly seemed as if the lower prices,
instead of unsettling confidence, had at
tracted some new buying.
Other Influences Felt.
This remains to be determined; bond
values in general have -been subject
. other influences than eastern politics. It
was l.oticeable today that, notwithstand
ing the rather numerous recoveries in
prices of foreign securities or company
bonds, the liberty loans slipped off an
other small fraction from Thursday's
closing, although not touching that day's
lowest prices. Sterling exchange, at the
day s low rate of $4.36, brought less
than on any other 4ay since March; but
like most of the other markets, it recov
ered rapidly before the closing.
It cannot yet be said that the week-end
reports of the mercantile agencies bear
out the more or less prevalent expecta
tion of great expansion in our autumn
trade. The "note of optimism" is sounded
in these reports as it has been in Wall
street and emphasis is clearly and rightly
laid on the "very general increase in buy
ing ai primary markets of all the leading
textiles" on a ''demand for railway
equipment proDaoiy surpassing the prev
lous Dest records" and on "the gain in
purchasing power that has resulted from
tne ruiier employment of workers.
Against tnese well-known facts are pru
aently placed such counter considera
tions as export trade much below that
of a year ago, continued caution in the
piacmg or orders for future delivery and
the chance of a railway freight blockage.
K C Sou ref 5s Jfc0
Keo & Dcs Moines 1st 5a 192i
I. S & M S 4s
I, & N 19
do gen fis J??
do uni 4s
M St P & S 8 M 614s
M P gen 4s
do ret os
1940
1948
1975
192
NYC deb 4s 1934
do con 4s
do ref imp 4ia
do cv deb 6s ......
do eq Ts . . . . .
NYNH&Hcvfts
1998
2013
1935
1930
1948
N O Tex & Mex Ss
N P P L. 4e
N P 6s
i do eq
OSL ref 4s
Pac Fruit Ex
Penna 6s
1997
2047
1930
1929
7s 1930
lW3t
do gen 4 J85
1960
1968
1930
1936
1997
1949
do 4198
do gen 5s
do 7s
Penna R R 614s . .
Reading gen 4s
51 A T. Am
do 6s A - "J?
Sou Ry con 5s 1994
So Pac cv 4s l?;? '
do ret 4s - 1955
do ref 4s 1949
do conv os i?S7
do eq 7s E 1935
St L & 3 F P L 4s A 1950 ,
StL48F sen 6e J931
StL8FPt!lB 1950
St L. & S F gen. s 1931
do adj 6s I900
do inc 6s I960
St U & S W 1st 6s 1952
do cen 4s 1931
do 1st 4s 3989
Tex Pac 1st 5s 2000
Union Pacific 1st 4s 19'
do CT 4s 19 2 .
do ref 4s 3008
ftr A, - 1928
do eq 7s 1930
Union Tank 7 1930-
Wabash 1st 6s 1939
do 2d 5s 1939
West Pac 5s 1946
Industrials ,.,
Allied Packers 6s 1939
Am Can deb 6s 1928
Am Agr Ch deb 6s 1924
do 7V.S 1?41
Am Sm 1st 5s 1947
92
oV
93
10814
1151
924
104 H
eaij
98
9054
83
88 A
105
111
82
T8
8914
109
111
92
11114
110
90 Va
100
100
110
110i
8514
58
65 ft
98
92
90 ft
88
104
116
75ft
97ft
81
104 ft
84
76
80
76
7914
FOREIGN BONDS RALLY
POPULAR ISSUES SHOW NET
GAINS AT CLOSE.
Speculative Kails Also Make Good
Recovery; Losses in Lib
erty Group. Nominal. -
Abandonment of the plan to consoli
date the Midvale-Republic-Inland Steel
companies, the last of the original seven
companies to discuss merger terms in
the spring, caused a sharp break. 4a the
stocfta of the companies which had car
Tied on negotiations to the end. On heavy
selling 'directly from, the opening Mid
vale steel opened down 1 points today
at 59. From that level there was a
slight rally to 59 ft followed by a break
later in, the day to 56. The close was
67ft.
i . s
Standard Oil company of New York
mounted to a new high record for the
year during this morning's trading on
the assumption that the directors of
mat company would take some action at
today's meeting in connection with the
rumored stock dividend. The meeting
was held but an announcement was made
that only routine matters were dis
cussed. This caused a sharp reaction in
the New York stock and it ended the
day with a net loss of 8 points while the
range between the high and low prices
for the day was 29 points.
Based upon the statements of railroad
earnings already in hand, covering the
month of August, estimates were made
In official circles today that net oper
ating income of first-class roads this
year will be below $45,000,000, or less
than half the total reported last year.
To earn 6 per cent on the tentative
valuation the roads would have to earn
approximately $108,000,000 gross this
month. The reason for the poor show
ing is due entirely to the expenses in
curred as a result of the shopmen's
strike.
;
Among the liberty bonds the first 3fts
which had held up best on the recent
break, went 10 cents lower than they had
sold Wednesday and 20 cents under last
night's closing figures. Moderate losses
occurred in the balance of the group.
In spite of the feverish market for
exchange on London and the 2ftc fall
sustained by the rate at the opening.
jsruisn loans in mis market stood up
remarkably well. Greater reflection of
the break in sterling was shown in a
ran or a point in Japanese 4s, which
are payaoie in demand sterling at
nxea rate or $4.87. A decline of a point
wns enown oy ueigian Tfts and Czecho
slovak 8s. While foreign bonds gen
erally were inclined to recede, French
issues ruled steady, except for heaviness
in FTenchrAmerican 7fts.
Selling concentrated mostly on specu
lative railway bonds. Losses of one to
two points were irregularly distributed.
The larger drop occurred in Delaware
and Hudson 5fts. Seaboard Air Line 6s,
Western Maryland 4s. a few of the Bal
timore and Ohio obligations, Friscos,
Missouri, Kansas & Texas and New
Haven bonds were down a point, Chesa
peake Ohio 4fts and Aachlson 4s
went contrary to the general trend.
New York Bonds.
Furnished by Jordan & Wentworth
company of Portland.
Railroad bonds .
Atch gen 4s 1995 92
A C L 4s 1952 90 4
do 7s 3930 10714
B O KPld 4s 194S 84 'i
do. con 414s cv lfl:r . S514
do ref 5s 1995 89
Canada Southern 5s 1962 99
Can Pac eq 6s J!W2 107
Can National eq 7s ....... 19:15 in
Can Nor 6fts . 394S 313
do 7s 3 940 113 ft
Cent Pac 1st 4s -. . . 3949 89
Chi N West 614s 1936 11114
Ches & Ohio cv 4fts 39.10 RSli
do gen 4fts 1902 SKyi
do cv 5s 1946 96
do oon 5s 19.19 102
C B & Q 111 div 4s 1949 9014
C & West Ind 4s 1952 77 ft
C G & W 4s 3959 52
O M & St P 4s 3925 SQ
do cv 4fts 3932 73
dr deb 4s 3934 64
do gen 43 A 3 989 77
, do 5s 2014 75
to 54 r 4fts A 2014 66
Chi N W sf 5s . 3929 101
do gen 4s 3987 8S
do 6fts 3936 111 14
do 7s 3930 no
O R I & P ref 4s 1934 S412
Colo So ref ex 4ft 3 1945 88 A
Colo Sou 4s 1929 93 ft
Del & Hudson cv 5s 3935 100ft
do 7s i 3930 110
T & R G cv 4s 3 936 78
do adj 7s , 3932 40
JSrie PL 4s 3996 63
Erie con 4s A 3 953 50 ft
do B 1953 51
do D 1 9.-13 .11
TCrle Pa CG 4s 1951 87ft
Grand Trunk eq 8 'As 1X16 107
Gt Nor 4fts infil 94 ft
do 7s 1936 311ft
Gt Trunk 6s 19;i 10234
do 7s 3940 313ft
111 Cent .it 5s 1963 . 99
do ref ia 1835 S8ft
Am Tob 7s 1923
Anaconffa, 6s A ; 1929
do 7s B 129
Armour cv 7s . JJJ3JJ
do 4fts 1939
Beaver Board 8s . 1933
Beth Steel 7s 1923
do eq 7s . . . IJdft
do ref 5s ... 1942
Cerro de Pasco 8s 1931
Chile conv 6s A 1932
do 7s 1P--3
Col Graph 8s 192o
Copper Exp 8s 1924
do 8s 1925
Colo F & I gen 5s 1943
Colo Ind 5s 1934
Corn Prod ref 5s 1931
Cuban Am Sugar 8s 1931
Cuban Cane cv 7s 1930
Distillers Sec cv 5s 1927
Diamond Match 7fts 1935
Dupont 7ft s 1931
Empire Gas Fuel 6s 1924
Gen Elec deb 6s 1952
do 6s 1940
Goodrich 7s 1925
Goodyear Ss 1941
Hershey 7fts 1930
111 Steel deb 4fts 1940
Ind Steel os 1952
Int Agr 5s 1932
Int Marine CT 6s 1941
Int Paper cv 5s B 1935
Kelly Springfield 8s 1931
Kennecott 7s 1930
Lack Steel 5s 1923
do 1st 5s 1950
Libby McNeil & Libby 7s 1931
Liggett k Myers 7s 1944
Lorillard 7s 1944
Midvale 6s 1936
Morris & Co 7fts 1930
Republic I & St 5s 1940
Sears Roebuck 7s 1922
do 7s 1923
Steel & Tube 7s 1951
Swift & Co 7s .' 1925
do 7a 1931
United Drug 8s 1941
U S Rub 1st ref 5s 1947
do 7ft 193U
U S Steel sf 6s 1963
Va Chem 5s 1923
do 8s .... ' 1924
Va Car Chem 7fts 1932
West Elec 5s 1922
West U T col tr 5s 1938
West Union 6fts 1936
Wilson 1st 63 1941
do cv 6s 1928
West Elec 7s 1925
Westinghouse 7s 1931
Public utilitles
Amn Lt & Tran 6a 1925
Amn Tel coll 4s 3929
do coll 5s : 1946
do 6s 1925
9314
95
8814
104
111
103
100
92 ft
86 ft
75
98
07
103
9814
101ft
101ft
10314
104
91
73
106
10214
87 ft
122
95 ft
108
30
102
103 ft
91ft
78
1)9
107 ft
86 -
53
107
107
106
100 ft
105 ft
102
11614
104
92
101
80
93
' 89
108
104
100
S3
102
117ft
118
89 ft
106
96
100
101
102 ft
10114
102
110
89 ft
107 ft
11214
10JL
10514
100
98 ft
110
101 ft
97 ft
Bell Tel of Pa 7s 1945
B R T 5s 1945
Bell Tel Pa 1945
Cal Gas uni 5s 1937
Cities Service 7s B 19ti6
do 7s C 1966
do 7s D I960
on Gas cv 7s 1925
Jilt -Met 4fts 1856
Lit R T ref 5s 1966
Laclede Gas 7s 1930
Mont Power 5s A 1943
Northwest Tel 7s 1941
Ohio Cities Gas 7s 1925
Pic Tel 5s 1937
Pac Gas 5s , 1942
Pac Gas & Elec 7s 1925
South Cal Ed 6s 1934
Souwest Tel 7s 1934
Toledo Edison 7s 1941
U R R of SF 4s 1927
Oil Bonds
Anglo Amn 7fts- 1925
Atlantic Ref 614s 1931
Galena S Oil 7s 1930
Gulf Oil 7s 1933
107
106 ft
92ft
99
114
10214
60 ft
97
127
90
91
'ii
71ft
101
99 ft
107
"99' '
94
ioift
102 ft
107 ft
Humble
Pan Amn 7s
Mex Pet cv Ss
Sinclair 7fts
S O Cal 7s
S O NY 7s
Texas Co 7s
Tidewater Oil 6ftB .....
Foreign Governments
Vacuum Oil 7s
Argentine 7s
Belgium 8s -.
Bolivia 8s
Brazil 8a
do 7s ................
Canada 5s
Chile 8s
Czecho-Slovak
Denmark 6s
Dutch East Indies 6s
do
1923
1930
1936
1925
1931
1931
1923
1931
3936
1927
1941
1947
, 1941
1952
1952
1946
8s 1851
1942
... 1947
1962
French Cities 6s 3934
Mexico External 5s
Mexico External 4b
Netherlands 6s
Paris-Lyon-Mdtrn 6s ...
Rio de Janerio 8s
Seine 7a
Foreign Gov't Internal-
French Internal 4s
French Victory 5s ......
Belgian Restoration 5s .
British 2ft consols .
Ital Cons War Loan 5 .
Lei
Stockholm
Christiania
Copenhagen
Rupees
Argentine
Chile
Brazil
Peru
Greek
Spain
Czecho-
Serbian
Swiss
Finland
Curb Bonds
Allied Packers 63 .......
Am Tel & Tel 6s
do 6s
Anaconda Copper 6s ....
do 7s
Anglo-Am Oil 7fts
Armour & Co 7s
Beth Steel 7s
Copper Ex Assn 8s ....
do Ss
Galena Signal Oil 7s ....
Grand Trunk 6fts
Gulf Oil Co 7s
Inter Rapid. Tran 7s ....
Sears Roe 7s 3-vr
So West Tel 7s
Stand Oil N Y 6fts ....
do 7s
Swift & Co 7s
do 7s
Vacuum Oil 7s .........
Brazil 7fts
Elberfeld 5s
Prague Tfts
Hamburg 4fts
Mexico 4s
Montevideo 7s
Yugo Slavia Ss
Switzerland 5fts
Netherland 6s
1954
1954
1972
1958
1947
19421
10314
105
103
ioi
306
306
104
109
i03"
108
101
102
96 ft
301
89 ft
98
103 ft
91
8ft
94
94
79
53 ft.
40
94
73
100
87
. . 1917 47ft
.. 1920 5814
85
51
35ft
62
26.35
17.00
20.30
29 ft
.. .... 35.90
14.25
11.85
330 ft
2.15
15.10
3.10
1.38
J8.66
2.21
.. 77
.. 1922 99
.. 1924 101ft
.. 101
3 0314
' 103ft
.. 104
.. 1935 102ft
.. 1924 102ft
.. 1925 103
105 '
10
103
: 100
.. 1923 101
,102
.. 1933 1 09
.. 1926 10ft
.. 1925 101 14
. . 1931 102
.. 108 ft
.. 1925 . 88
1932-52 1
.. 1952 80
61
.. 1945 39ft
. . 1952 92
. . 1962 92
.. 1929 104ft
...... 94,
NEW - YORK, Sept. 29. Prices of
bonds, 'especially the foreign securities,
reacted .sharply at the opening of today's
market in response to a sharp break in
sterling exchange, but they exhibited
strong recuperation power in the after
noon, a few of the popular iBsues show
ing net gains of a point or more. The
average, however, was slightly lower.
Belgian 7fts were down nearly two
points and most of the other European
issues a point or more before the recov
ery set in. The late demand for British,
French, Mexican and Japanese issues re
sulted in Mexican 6s being pushed up
lft, Japanese 4fts, 1ft, and French 8s
and Soissons 8s a point each. Czecho
Slovakian 8s dropped to the lowest fig
ure since they have been listed on the
stock exchange.
Some of the speculative railroad
mortgages - also made good recovery,
particularly Frisco income 6s, - which
sold off a point, made up their loss and
then moved up a point above last night's
close. Other railroad liens, which
moved up a point or more were Atchison
4s, "Katy" firsts, Missouri Pacific 43 and
Illinois Central and Chicago, St. Louis &
New Orleans Joint 6s, Delaware & Hud
son "5fts were the heaviest, drbpping
more than 2ft points.
United States. Rubber " 8s, American
Smelting 5s and Bethlehem Steel re
funding 5s made good progress in the
industrial division, each gaining a point
or more, but acute weakness was noted
in Brooklyn Union Gas 7s and some of
the local tractions. -
Liberties eased a bit, but the Josses
were only nominal.
Total bond sales, par value, were $14,
981.000. New offerings this week were slightly
in excess of $120,000,000.
Bear traders conducted another suc
cessful attack against prices in today's
early stock market, using the unfavor
able overnight news in the near eastern
situation and the abandonment of the
Republic-Midvale-Inland steel merger as
an excuse for their assault. '
Prices were forced down to new low
levels on the current reaction before j
the shorts ran into substantial buying
power and the extent of this caused a
scramble -to cover, starting a rally which
carried a number of Issues well above
yesterday's closing figures.
Indications that tne abandonment 01
the steel merger was unexpected in the
financial community were seen in the
sharp break in Republic, which carried
down 4ft points before recovery set in,
the net loss for the day being 3 1-3
points. Midvale offered a little more
resistance to selling pressure, yielding
only two points. United States Steel
common, Bethlehem "B," Vanadium
and Crucible Steels were weak in sym
pathy, but aJl rallied later, United
States steel registering a smau imc
tinnnl piin for the day.
EouiDment shares led the rally in the
final hour, American Locomotive being
pushed, up 3 points; Baldwin, 2;
American Oar & Foundry. 2ft; Pullman,
1, and Lima Locomotive, 1. Pittsburg
Coal also shook off its recent heaviness,
gaining two points and other coal
shares also moved to higher ground.
Union Pacific and Lackawanna moved
up a point, but there was some irregu
larity in the rest of the list, most of
the changes being of a fractional na
ture. Motor shares showed some im
provement. Standard Oils of California and New
Jersey moved in an erratic manner,
weakening in response to the sharp
break in Standard of New York on the
curb, which was attributed to the fail
ure of the directors at their meeting to
day to announce plans for capital re
adjustment. They recovered later, each
showing a net gain of more than a point
on the ,day, Mexican Petroleum fluctu
ated within a radius of nearly four
points, closing at a net loss of lft
points. '
Tobacco shares were under pressure,
Liggett Myers "B" dropping six points
and American Tobacco "A" and "B" de
clining two or more, but recovering later.
Improved metal trade conditions were ;
reflected in the better demand for cop- j
per, zinc and lead shares, most 01 which
showed slight gains.
National Biscuit was one of the In
dividual features, showing a net gain
of 11 points. Other strong spots were
Houston. May Department Stores. Iron
Products and Retail Stores.
Total sales were 1,050,000 shares.
Call money opened and renewed at 4
per cent and advanced to 5 in the early
afternoon, holding at that figure until
the close. Time money continued quiet
with no appreciable change in rates,
but there was a good demand for com
mercial paper.
The feature of the 'foreign exchange
market was the quoting of the Canadian
dollar at a premium. Unsettled condi
tions In the foreign market caused a
sharp break in sterline in London, which
was reflected here, demand bills drop
ping to $4.37, but rallying somewhat
later. Continental rates eased in sym
pathy, -but -less sharply.
Brie 1.900 15ft 14 15
do 1st pfd ... 4.700 23 23ft 23
Famous Players 7.600 B41i 92ft 04
Fed Min & Smelt - 12ft
do pfd 600 59 59 os ft
Flsk Tire 2,600 12 12 12
Gen Cigars 900 77 ft 77 ft 77 ft
Gen Elect 200 174 174ft 174
Gen Motor 13,900 14 14 14
Gen Mot 6 83
Gen Asphalt ... 9,300 61 59ft 61
Gliddin Paint .. 600 14ft 14 14
Goodrich T & R. 1,700 33 ft 32 33 ft
15,800
1,
86
900 80 ft
900 22
500 113
500 38
9 14
16
66
29 ft
39
88
83ft
77 ft
21ft
Glen Alden
Granby 2,100 30
Great Nor Ore . 1,100 , 39 ft
Great Nor pfd . 4,600 91
Greene uananea
Gulf S Steel ...1
Mouston Oil
Hupp Motor . . .
Ills Cent
Inspiration
Int Ag Corp com
ao pro.
Interboro 200 lft lft
do pfd 500 3 3ft
Int Harv 200 10514 10514
Int Merc Marine 1,100 14 ft 13
do pro 13,800
Int Nickel ..... 1.100
Int Paper 2,000
ao pra
Invinciie Oil ,.. 2,900 15
Island Oil 700
Jewel Tea
K C Southern .. 200
do pfd 500
Kayser J 1.900
55
29
39
90
30ft
85
80 ft
21
112 113
38ft 38
9
36ft
lft
3ft
105 ft
14
Libby, McNeil Libby, new... 7
National Leather 7
57
1614
65
'iift
Kelly-Spgfld
Kennecott
Keystone Tire. .
Lack Steel
Lee Tire
Lehigh Valley
2.600
5,800
1.000
r,600
200
7,100
23
56
44
41
34 ft
8ft
79ft
25:
66
23
55 ft
43
39
33
7ft
76 ft
25
60
Lorillard 1,800 169 166
Loew Theatres . . 5,800 20 20
L fc N 200 135
Lima Loco ...f. 3,000 59
Marland Oil 2,800 40 ft
Maxwell Mot ,"A" 600 57
Maxwell Mot "B" 3,900 18
May Stores 700 130
Mex Pet 32,100 193ft
Mex Seaboard .. 3,600 20
Miami' .......... 8O0
Mid States Oil...4,600
Aiiavaie steel . . 4,200
M K & T 4,200
Mack Truck . . . 2,600
Mont Power .... 1.800
Mont Ward 2.600
Mo Pac . 4,900
do pfd 8,700
JUSti-&SSM ...
Nat Biscuit .
Nat Enamel .
Nat Lead . . .
Nevada Con .
New Haven .
Norfolk & W
Nor American
Nor Pac 2,900
XV ova Scotia Stl. 200
N Y Air Brake.. 200
N Y Central . ..14,200
Okla Prod ref.. 600
Orpheum 1,800
Ontario & W 200
Otis Steel 400
Pacific Dev 300
Pas Gas & Elec. 3,800
Pacific Oil 12 inn
Pan Amn Pet 21.400
do B 8.100
Penna 4,000
renna sea steel. 600
Peo Gas 1,000
Per Marquette . 1,500
Phila Co 400
Phillips Pete ... 3,900
Pierce Arrows . . 4.400
Pierce Oil ...... 2,800
Pitta Coal ..... 7,300
Pitts & w Va. . . sno
Pressed Steel Car 1,000
Punta Alegre . . . 700
27
13 ft
32
17
55
72
21
21ft
57
135
57ft
39
56
17
12flft
180
20
27ft
13
30
17
55
71
21ft
20ft
56
59
16ft
56 ft
80
15 ft
18
23.
65 1
44
41
34
7
79
25
66
167
20
135
59 ft
4014
56 ft
18
130
182
20 ft
27 ft
13
31ft
17
55ft
2.100 175
1,800 61
500 103
1,400 15ft
7,300 29
900 119ft 117ft
3,800 93 92 ft
34
36
05 ft
2
25
24 ft
10
4
84 ft
58
78
72 ft
47
6ft
94
35 ft
43ft
60
13
614
60
37 ft
87
45
21
20
57
68
161ft 173
60ft 61
102ft 103
15 15
28 29ft
84
34
35 ft
93
2ft
25
24 ft
10
4
81
54
76
70
47
614
93
34
43 ft
49 ft
12
6
58 ft
35 ft
Pullman ... 5,000 130Ti
Pure Oil 2.400
Ray Cons , . 1,500
Reading 4,300
Remington 100
Replogle Steel.. 3.600
Republic I & 3.. 36,200
do pfd 900
Rep Motors .... 2,100
Royal Dutch Oil s.mo
y Hteel spg
Saxon Motors . . . 500
Sears Rosbuck.. 2,400
Shattuck & Ariz 400
Shell T & T 400
Sinclair 13,800
Sloss Shef ..... 100
Sou Pacific 8,500
Sou Ry 1,800
do pfd 300
Stand Oil Cal.. .38,500 120ft
oLauu tjii ma us
Stand Oil N J... 10,400 199
31
14 ft
77
34
33
59 ft
85
2
57
100 117ft
4
87
8ft
37
33
47ft
93
24
61
119
93
84?(
33
36
95
o
25
24 ft
10 ft
4
83 ft
65ft
77
72
47 ft
6ft
94
351i
4314
50 ft
13
01:
60
37ft
8
45
130ft
31ft
14 ft
77
34 ft
32
57 y
100
200
300
8900
100
400
4,900
1,200
17
ao
37
ie' "
1
82
54 ft
. Low.
. 78 ft
17
54
37ft
i3
1
79
53
Bid.
7Sft
16 ft
54
37
66
15
ft
' lft
81ft
64 ft
101ft 103
43 43 ft
40 ft 40,
56 67
iOS
Chicago Potato Market.
CHICAGO, Sept. 29. Potatoes steady
on whites, weak on other stock; receipts
61 cars; total United States shipments,
1329 cars: Wisconsin, Minnesota sacked
round whites,. $1.001.10 cwt.; do bulk.
8595c cwt. ; Minnesota sacked sand land
Early Ohlos, 90c $1.00 cwt.; Minnesota
sacked Red River Ohios, $1.00 1.10 cwt
South Dakota bulk Early Ohios, 90c cwt.;
do sacked $1.00 cwt.
Chicago Oil Market.
(By Chicago Tribune Leased Wire.
CHICAGO, Sept. 29, Gasoline .-' Tank
wagons. 21c; service stations. 23c; ma
chine. 27.9c. Oils: Summer, 11.4c; win
ter, 11.9c. Carbon perfection, iron bar
rels, llftc; linseed oil, raw 1 to 4 barrels
delivery, $1.02; boiled, $1.04. Turpen
tine, $1.60; denatured alcohol, 40c.
26
53
6ft
12
68
CLOSING STOCK QUOTATIONS.
Furnished by the Overbeck & Cooke
company of Portland:
Stock Sales. High.
Adams Exp iou 79
Advance Hum .
do pfd
Agr Chem
do pfd
Ajax Rub . . . .
Alaska Gold ..
Alaska Juneau.
Allied Chem...
Allis-Chal
do pfd ....... 200 103
Am Beet sugar. 1,300 43ft
Am Bosch 2,200 40
Am Can Co 4,900 58 ft
do nfd
Am Car & Fdy.. 1,100 185 182 185
do pfd 12
Am Cot Oil 300
do pfd 100
Am Drug Synd. . 700
Am Hide & Lea 300
do Dfd 300
Am Ice . . . . 3,400 108
Am Intl Corp... 1,900 35ft
Am Linseed , 300 37
do pfd
Am Loco 25,400 125 120 ft
do pfd
Am Saf Razor. .
Am Ship & Com
Am Smelter
do pfd
Austin Nichols. .
Am Steel Fdy . .
Am Sugar ......
do pfd
Am Sumatra
Am Tel & Tel
Am Tob
do "B" ...
Am Wool
do pfd ....
Am W. P. pfd
Am Zinc
Anaconda . . .
Assd Oil .. . .
Atchison
do pfd
Atl Coast Line... 600 118ft 117
Atl, Glf & W I.. 800 29 29
lOCO. .41,OV ld4fe 1SU ft
25
53
6ft
12
67 ft
107
33 ft
36
26
53
6ft
12ft
67 ft
108ft
35 ft
37
56
125 ft
118
7
20 ft
60 ft
99
35
43
78
200 110ft ioft 109
600 37 37 ft 37 ft
..10,800 120 120 120
. . 1,700 159 loB JOS
. . 1,400 153
. . 9,100 97
Stand Oil Ky
St L & S F 1,300
Stromberg Carb. 400
Studebaker 42,900
Swift & Co
Tenn Cop &' Ch.. 400
Texas Oil 10,400
Texas Pacific . .. 1,000
Tex Pac C & O. 1,900
Tob Products ... 1 sno
iran JontI oil-. . 4,000
union .ttag & r"a.
Union Oil Del ..
Union Pacific ...
United Alloy . . ,
united Drug. .
United Food Pro.
United Fruit . . .
United Re Storesl4,600
U S C I Pipe . . . 1,100
U S Ind Alcohol. 6,200
U S Rubber . 6.300
ao 1st pfd.
U S Smelting
U SI Steel . . .
do pfd
Utah Copper
Va Chem
do pfd
Vanadium Steel.
45
128
30
14 ft
75 ft
34 ft
32 ft
56 ft
85
214
55
117
4
85 ft
8ft
37
32
47
92
24 ft
61
117 119
116ft 118
196 19Bft
2ft
56
11714
4
8714
8ft
374
33 ft
47
9314
24
60
. 107 ft 107 ft 107 ft
28
52
126
107
9
47
28 ft
24 ft
62
13 ft
3VU 73
100 18ft
3,700 148
200 80' '
100 6ft
S0O 146ft
81ft
31ft
62
52
97 ft
27
50 ft 52 ft
123 126
10614 107
9 9
46 ft
27 ft
2314
61
12
72
18
146
'79"
6ft
- 46
28 ft
24
61 1
13ft
72
38
148
37ft
79 ft
6ft
14514 1471?
81
500
.42,000 102ft
300 122
. 2,700 6614
200
200
8,400
Vivaudou 3,300
Wabash
do A pfd
' do B pfd
Wells Fargo
Western Pacific.
do pfd
Western Union..
Westinghouse AB
do E & M
West Md
White Eagle Oil.
White Motors . ..
White Oil
Willys-Overland.
do pfd
Wilson Packing .
Wis Central
Woolworth
Worth Pump . . .
W & L E ,
,000
4,500
4O0
900
300
3
401
I.366
600
800
200
500
1,300
400
800
, 200
1,100
26
64
45
12
11
31
21
81ft
17ft
Uft
14
30
48 ft
7
6
40
45ft
40
12 ft
31 31ft
60 61ft
50ft 52ft
96 96
41ft
100 102ft
121 122
65ft 66ft
26 26
64 ft 64ft
43 45
12 12
lift lift
30 ft 30
21 20ft
80 81
17ft 17
62 . 62
110 111ft
99
60 61ft
13 ft 13
29 29
48ft - 48ft
7 7
6ft 6ft
40ft 41ft
44ft 45
i9ft
"40ft' 40
12 ft 12
3,700 7ft 7
1,600 20 20
2,900 60ft 59ft
1,266 35 34ft
2,100 48 42
800 78 77 ft
151 155
96ft 97ft
900
1.400
3.400
S00 .1181
32
18
32
17
50
11514
108ft
32
18ft
5,800 103 102 ft
Baldwin
do pfd
Bait & Ohio 2,900 54
do pfd 100 65
Barns Corp "A" 4,300 37
do "B"
Beth Steel "B". 10,200 72
Booth Fish 400 8
B R T 700 23 .
Butte C & Z 500 6
Butte & Sup.... 200 31
Burns Bros "A". 1,700 134
do "B" 200 48
Caddo Oil
Cal Pack
Cal Pet .
do pfd
Cal Zinc & Lead 1.400
Can Pac . .
Cen Leath.
Cerro de Pasco . ' 900 37 ft
Chand Motor... 6.700 61 ft
Chi & N W 3,900 90 ft
Chgo Gt W 1,600 614
do pfd .1 4,000 14 ft
Chili Cop 2.100 25
Chino 900 2ft
C M St P 3.900 31ft
do pfd 4.8O0 49 ft
Coco Cola 8,400 73
C & O 4,100 71
Colo F & I 600 32ft
Colo Southern . . sou 411
Col Gas & Elec
1,000
1,100
3.600
100
10
83
63
95
9
3,300 14314
2.6OO 4(114
53
65
3514
72ft
8
22
30 ft
132ft
45
10ft
82 ft
62 ft
95
914
142
39
37 ft
59
88
6ft
13
' 24
. 28 ft
30
4714
71
70 ft
32
47 ft
115ft
103
92
117ft
29
333
116
53
64ft
37 ft
26
72ft
8
22
6
31ft
134
46
10
83 ft
63 ft
95
9
143 ft
. 40 ft
37 ft
61
90 ft
6
14ft
25
28
3114
48
71
71ft
32 ft
48
Liberty Bond Quotations.
Liberty bond and victory note quota
tions furnished by the Ovirhprlr A
company of Portland: Closing
T ... .. Open. High. Low. Bid.
Liberty, 3fts.. 100.84 100.92 100.66 100.72
99.90
do 2d 4s 99 SO
5 l5c lYfs-19S.1, 1002 166:64 100i08
do 2d. 414s.. 99.90- 99.54 99.86 99 88
do 3d 4fts. .100.00 100 00 99 82 99 90
"do 4th 414s. .100.14 IOO 18 ino no tnn'na
Vic 4s call.. .300.20 300.22 30oi20 30020
i-o i.oam xuu.00 100.48 100.54
Money, Silver, Etc.
NEW YORK, Sept. 29 Call money,
firm; high, 5 per cent; low 4ft per cent
ruling rate, 4 per cent; closing bid 5
per cent; offered at oft per cent; last
loan, 5 per cent; call loans against ac
ceptances, 4ft per cent.
Time loans, firm; mixed collateral
60-90 days, 4ft 4 per cent; four to
six lftonths, 4 per cent.
Prime commercial paper, 4ft4ft per
cent.
Foreign bar silver, 68ftc.
Mexican dollars, 52c.
LONDON, Sept. 29. Bar silver,
35 5-16 per ounce. Money, 2 per cent
Discount rates, short bills. 2 5-16 per
cent; three-months bills, 2 2 11-16 per
cent.
Standard Oil Stocks.
Standard OH stocks furnished by the
Overbeck & Cooks company of Portland:
Bid. Asked.
Anglo 39 20ft
Borne Scrysmer 425 435
Buckeye .- 97 98
Cheesebrough 198 203
do pfd 110 115
Continental 144 146
Crescent 3 37
Cumberland 150 -155
Eureka 95 - 97
Galena com 52 55
do old pfd 108 112
do new pfd 100 103
Illinois Pipe ....170 , 174
Indiana Pipe 96 98
National Transit 26 , 27
N Y Transit ... 170 175
Northern Pipe 110 112
Ohio Oil .807 311
International Pete 20 20
Penn Mex 2fl 28
Prairie Oil 640 650
Prairie Pipe 265 267
Sclar Refg 370 880
Southern Pipe 97 99
South Penn Oil 210 220
S W Penn Oil 60 65
K O Indiana 117 318ft
do Kansas .....585 695
do Kentucky 107 108
do New York 530 534
do Ohio 485 495
do pfd .-J.138 119
Swan & Finch,.. 80 34
Vacuum . .......525 585
Washington 22 25
S O Nebraska 190 195
Imperial Oil 110 ft 111ft
Mining Stocks at Boston.
" Mining stock quotations at Boston fur
nished by the Overbeck Cooke com
pany of Portland: Bid. Asked.
8
100
64
10
2?ft
18
60 1
285
18
10
40
4ft
10ft
2
S
105
4
1
52
3ft
. 10
S
3 ft
84
214
41
20
23
lft
44
27
4ft
lft
60
1 ft
2
2
11
1 T
60
Ariz com 7ft
Aventure 50
Ahmeek 62
Algomah 3
Allouez 23
Arcadian 2ft
Bingham Mns 17 ft
Cal & Ariz 58 ft
Calumet & Hecla i .280
New Corn 17ft
Centennial ................ 9
Cop Rge 39
Davis Daly 4ft
East Butte 9ft
r rantcun aing 1
Hancock 2ft
Island Creek ..103 ft
Keweenaw 1
Kerr Lake 3
La Salle 1
Michigan 2ft
Mohawk 50
May-Old Colony 3ft
Mason Valley lft
North Butte . 10
Nipissing . . 6
Old Dom Cop 23
Oseeola Mng ; . 34
Ojibway 1
Quincy Mng 39
Pond Creek 19
Isle Royal 21 ft
Supp Boston 3
Uni Shoe Men 43ft
do pfd 26
Superior Cop 4ft
Trinity Cop lft
Tuolumne 50
Utah Metals lft
Utah Con ' - 2 It
Utah Apex 2
Victoria 1 14
Winona , 1
Wolverine
Wyandot .
10
50
Foreign Bonds.
Reported by Overbeck & Cooke com
pany of Portland:
Belgian Rest 5s 1919
do Prem 5s 1920
do 7fts 1945
do 6s 1925
Brazit Ss 1941
British 5s 1927
do 1929
do Vky 4s 3919
do Ref 4s 1919
U K 5fts 1922
do 1929
do 1937
Bordeaux 6s ........ 1934
Canadian 5s 1926
do 5143 1927
do 1929
do 5s 1937
do 1931
Chinese 5s 195!
Chile 8s 1941
French 4s 3917
do 5s 1920
do 1931
do 7fts 1941
do 8s 194.
German W L 5s
Berlin 4s
Hamburg 4s
do 4 14 s
Lelpsig- 4ft s .
ao os
Munich 4s
do 5s
Frankfort 4s
Italian 5s 1918
Jap 4s 1931
do 1st 4fts 1925
do 2d 414s 1925
Norway 8s 1940
Swedish 6s ..... 1939
Denmark 8a 194
Russian ofts 3921
do . . 1026
do 6!4s Iftlft
Sao Paulo 83 1936
Swiss 8s 1940
German bonds Quoted in
cents.-
Bid.
Bid.
64
68
103ft
99 ft
101 ft
91
91
72
100
106ft
.101
79
99
99
100
99 ft
99 '
51
104
46 ft
68
57 ft
06 ft
100
.40
.60
.50
.50
.50
.50
.75
.75
.75
34 ft
79
92 ft
92
110 ft
103
10914
11
32
102
121ft
Ask.
Ask.
5
72
304
100
101
94
94
78
7
100ft
3 07
101 ft
79
99 ft
100
101
100ft
100
53
104ft
47ft
71
58 ft
96
100 ft
.80
.90
1.00
1.00
1.00
1.00
. 1.25
1.25
1.2.
35 ft
93
93
111
103 ft
110
14
2
16
103
122
How will the decrease in
immigration effect Portland?
How will the operation of the new immigration law .
react upon property and other investment values?
' I "HE operation during the first year of the
new immigration law resulted in a net loss
to the country ot 11,687 males. Previous to
to 1914 the gross influx exceeded 1,200,000.
Between 1910 and 1919 industry required
250,000 new workers every year while the
growth of our population supplied 135,000.
As a result of immigration restriction,
a labor shortage will tend to develop in those
industries where many men are necessary.
Higher wages and shorter hours will follow.
The recent voluntary wage increase of 20 per
cent, given by the United States Steel Corpo
ration and that of 40 per cent by the H. C.
Frick Coke Co., are straws that show the
direction of the wind.
These are portentious facts. They are of
great significance in their bearing upon man
ufacturing and living costs and upon the value
of all fixed and long term investments.
How will they affect your bonds, your prop
erty, rents, taxes? Is it time to sell or to hold,
to develop or to wait? Such important and
vital questions require careful analysis and
experience to answer.
Are you trying to solve these perplexing
problems alone, or do you have the counsel
and guidance of those trained to answer them?
Our organization and its experience are at
your service.
Strong Sl
MacNaughton
1
CORBETT BUILDING
PORTLAND, OREGON
Investment and Property Alan
agers for Estates and Individuals
dollars and
T
BULK OF SALES AT $11 11,25
AT LOCAL YARDS.
Cattle, Sheep and Lam suiet
Unchanged, vt,i"
and
Light Receipts.
The livestock market was auiet yester-
uay witn & run 01 only six loads.
Hog quotations were unchanged, but
an easier tone was reoorted in the mar
ket and the bulk of sales were at JlliS
11.25. Cattle trade was very quiet. Sheep
na iamos were steady and unchanged
Receipts were 8 cattle. 156 hoera and
44U sheep.
The day's sales were as .follows:
Wght. Price
3 steers. 1000 $6,001
Columbia Graph 1,600 314 3ft
Con Gas 12,100 136ft 133ft
600 109 ft 106 108 ft
3ft
136
Metal Market.
NEW YORK, Sept. 29. Copper
IJElectroly tic... spot and futures, 3 4c.
Tin firm, spot and futures, 32.75c.
. Iron steady, unchanged.
Lead firm, spot 6.356.30c.
Zinc, firm, &ast St. - Louis spot
nearby delivery, o.6ua.&0o.
and
Cons Cicars .... 1.100 37ft 3534 37
Cons Textile . . . 3,600 9ft 9ft 9ft
Contl Can 1,400 86 84ft 85ft
Corn Prod . 4,600 114ft 111ft 113ft
do pfd . 118
Cosden Oil 24,300 49ft 47ft 49ft
C R I & P 6,000 43ft 42ft 43
do "A" Dfd ... 800 101 100 101
do "B" pfd .. 300 90 ft 94 89 ft
Crucible 11,200 86 83 ft 85 ft
do pfd .. ' 100 94 94 94
Cuba Cane 1,100 33ft 13 13
do pfd ....... 600 37 35 37
Cuban Amn Sugr 300 23 . 22ft 22ft
Davison Chem ... 800 49 47ft 47ft
Del A Hudson . 400 3 32 132 133
Del & Lack .... 200 133 130ft 133
Dome Mines ... 4.100 36ft 35 35ft
Elec Stor Bat. 4.800 52ft 51ft 52ft
Endicott Jolmaoo 4,SW 83ft 82ft 63
Foreign Exchange.
Foreign exchang-e rates at the ekise of
business yesterday, furnished by Notrh
western National bank of Portland. The
amount quoted is the equivalent of the
foreign unit In United States funds:
Country. Unit. Rate
Austria, kronen $ .000019
Belgium, francs 071800
Bulgarian, leva .'. 006800
Czecho-Slovakia, kronen 031500
Denmark, kroner . 205000
England, pound sterling 4.403750
Finland, finmark 022500
France, francs 076000
Germany, marks 000650
tjreece, araenmas 027000
Holland, guilders 388000
Hungary, kronen 000600
Italy, lire 042500
Jugo-Slavia, kronen 003700
Norway, kroner 172200
Portugal, escudos 046500
Roumania, lei 006400
Serbia, dinars 014500
Spain, pesetas . 152000
Sweden, kroner 264000
Switzerland, francs 3S7OO0
China-Hongkong, local currency .573500
Shanghai, taeis 777500
Japan, yen .490000
2 steers.
2 steers.
1 steer. .
steers.
2 cows. .
1 cow. . .
72 hogs. . .
99 hogs. . .
2 hogs. . .
1 hog. . . .
( 2 hogs . . .
1 hog. . . .
17 hogs. .
20 hogs. . .
17 hogs. . .
10 hogs. . .
19 hogs. . .
1 bull...
1 lamb. .
2 lanrbs.
37 lambs.
1045
985
1010
1205
960
40
5.50
5.00
4.00:
4.50
5.50
50
196 11.00
197 11.001
350 8.50
17011.50
240 11.00
290 9.25
237 11.25
211 11.25
175 11.50
282 10.50
260 10.50,
1250 4.0O
60 10.00!
93 9.00;
9 11.00
38 lambs.
7 lambs.
2 ewes. . .
7 ewes. . .
10 ewes. . .
3 ewes. . .
10 ewes. . .
16 mixed. .
3 steers. .
1 steer. . .
1 steer. . .
1 steer. . .
1 steer. . .
1 eteer. . .
1 bull
1 bull
1 bull. .
23 hogs. . .
13 hogs. , .
1 hog
1 hog. . . .
Wght. Price
68 8.00
70 lO.OO
140 5.00
104
130
86
112
109
493
1260
970
1220
1350
1200
1340
1050
1370
3.50
5.00
3.60
5.00
7.50
3.50
5.50
4.00
5.00
5.50
5.50
4.00
3.25
3.65
231 11.25
21211.25
560 T.00
250 9.25
NEW YORK, Sept. 29. Foreign ex
change, irregular; Great Britain, de
mand S4.38, cables $4.3814 , 60-day bills
on banks $4.36; France, demand 7.57ftc,
cables 7.58ftc; Italy, demand 4.23ftc,
cables 4.24c; Belgium, demand 7. llftc,
cables 7.12c: Germany, demand .08c,
cables .06 l-16c Holland, demand 38.68c,
cables 38.75c; Norway, demand, 17.00c;
Sweden, demand 28.25c; Denmark, de
mand, 20.25c; Switzerland, demand
18.62c; Spain, demand 15.10c; -Greece, de
mand 2.49c; Poland, demand .Olftc;
Czecho-Slovakia, demand S.09c; Argen
tine, demand 35.37c; Brazil, demand
11.75c; Montreal, 100.
Swift & Co. Stocks.
Closing prices of Swift & Co. stocks at
Chicago were reported by the Overbeck
& Cook company of Portland as follows:
Swift & Co 106ft
SwUt Interuailonai 22
. 7.B0 8.00
. 6.75 7.50
. 5.75 8.75
. 4.00 5.75
. 5.00 COO
. 3.50 4.50
. 1.60 2.00
. 1.50 2.00
. 3.00 4.00
. 5 00 5.50
. 4.00 a 5.00
. 8.50 9.60
. 7.00 8.00
. 7.00 S.00
. 5.00 7.00
. 4.00 5.00
ll.00fflll.50
30.0O 10.50
9.00 10.00
7.00 9.50
11.00 11.25
11.00 11.50
5.00 7.50
Prices quoted yesterday at the Port
land Union stockyards were as follows:
Cattle
Choice steers
Medium to erood steers. .
Fair to medium steers
Common to fair steers
Choice cows and heifers....
Med. to good cows, heifers..
Common cows
Canners ,
Bulls
Choice feeders
Fair to good feeders
Choice dairy calves
Prime light calves
Medium to light calves ....
Heavy calves
Common heavy calves .......
Hogs
Prime light
Smooth heavy, 200 300 lbs.
Smooth heavy, 300 lbs ...
Rough heavy ... ..4
Fat pigs
Feeder pigs
Stags, subject to dockage..
Sheen
East-of -mountain lambs.... 10.0011.00
Choice valley lambs......... 10.00 11.00
Medium valley lambs 9.0010.00
Common valley lambs 8.00 i.00
Cull lambs 7.00 8.00
Light yearlings 8.00 8.50
Heavy yearlings 7.50 8.00
Light wethers '. . . 6.50 7.50
Heavy wethers 5 50 6 50
Ewes 2.00 6.00
Chicago livestock Market.
CHICAGO, Sept. 29. (United States
Department of Agriculture.) Cattle,
4500, generally steady on all classes,
strictly good and choice beef steers
scarce: canner cows fairly active, strong
to higher, early top matured beef steers,
S11.75; long yearlings, $11.50 bulk beef
steers, $9 10. 50; Wyoming grassers, $6
7.60 for several loads; bulk bologna bulls,
$4.154.25; bulk desirable veal calves
around $12.50; bulk canners around $3.
Hogs 16,000, early market steady to
10c higher; later around steady; bulk,
180220-pound averages, J10.40 10.50;
top, $10.65 early; bulk, 240260-pound
butchers, $10.1010.35; good to choice,
2803O0-pound butchers, $10.1010.25;
bulk packing sows, $7.758.25; pigs
strong to unevenly higher, mostly $9.50
9.85; heavy. $9.10ie.30; medium, $9.90
10.60: light, J10.1010.55; light light.
$9.8510.25; packing sows smooth, $7.75
8.60; packing sows rough, $7.25 7.80,
killing pigs, $8.759.90. r
Sbesprr-SaOO, best native, lambs Heady.
shade lower; top, $14.50; in between
grades full, averaging good 25c lower:
bulk, $13.75 14.25; culls mostly $9
0.60; no range lambs on sale, receipts in
clude 3600 direct to packers; sheep gen
erally steady; big weight fat ewes mostly
$3.504; good handyweight, $6.50.
Pasco IJvestock Market.
PASCO UNION STOCKYARDS. Sept.
28. Receipts in the cattle section were
fairly liberal, yet everything offered
found a ready buyer at steady to strong
prices. Feeder steers crossed the scales
at $5.50 per hundred, 25 cents stronger
than a week ago. There were no hogs
on the market, but stock buyers stand
ready to absorb a moderate run. Sheep
were active with liberal receipts for
trading both lambs and aged ewes. Buy
ers are constantly calling for more feeder
lambs at strong prices. Some breeding
ewes changed owners at good figures.
The market here could well place a
fairly heavy run of feeder lambs.
CaUIe Receipts. 373 head; prime
steers with good diversion, $7 7. 25; good
to choice, $6.507; fair to good, so.ouo;
choice cows and heifers, $45; good
quality feeder steers, $5.255.75; fair,
$55.25; stocked cows and heifers,
$3.50 4.
Hogs Receipts, none; prime ngnts,
$10.5Oll; smooth heavies. $.5010;
rough heavies, $89; feeder pigs, $10
10.50.
Sheep Receipts, 2213 head; prime
lambs, $10 11; fair to good, $9.60010;
feeder lambs, $9.5010.50; fat ewes, $5
5.50; breeding ewes, $9 12 per head.
mon grde, $66.75; beef cows, good
grade, $5.756; medium grade, $j.25
5.90; common grade, $45; canners and
cutters, $23.50; bologna bulls, 5II4J'
4; calves, market slow, steady. 150 to
200 pounds, good and choice, $8.!tr;
2U0 to I'.lo pounds, good and choice.
$7.508.50; 250 to 300 pounds. '3.600
6.50.
Hogs Market dull; values barely
steady; good and choice grain-fed Call
fornias, 150 to 200 pound". $11I1.50;
200 to 250 pounds. $10.50U; 250 to 31
pounds, I7i&'7.50; rough sows. 250 to Roo
pounds, $0(('6.50; over 300 poumi, $5fl.
Sheep and lambs, full blooded Mar
ket steady, lambs, good and choice
grades, $11.50I2; medium grade, $11
11.50; ewes, medium and good. $3$6;
wethers, medium and good. $78.W1.
Kansas City livestock Market.
KANSAS CITY, Mo.. Sept. 29. (U. S.
Department of Agriculture.) Cattle
ReceiptB, 6000, undertone weak on calves;
HMtrnhlA vealera irenerallv 1010.5O:
one load prime heavy steers around 1500 I
nounds at $11.80: looks higher; an otner
classes dull, canners and cutters, s.of
3.25; few cows, $56; common kinds
mostly $3.754; common to medium
grass heifers, $4.505.oo; medium
bologna bulls mostly $3.50.
Hogs Receipts, 4500, steady to too
lower, mostly decline on mixed quality
shipper and packer top, $10; 180 to 240-
mmnders. $9.65 10: bulk 2au to oo-
pounders, $9.50 9.90; bulk of sale $9.35
9.90; packer sows 20 to ooc lower;
bulk, $7.858.15; few $8.25; stock pigs
steady to 10c lower; bulk. $960.80;
few lighter weights, $9.85.90.
Sheep Receipts, 1000; most receipts
direct to packers; no westerns offered;
odd native sheep and lambs about
steady; native lambs, $13.
Omaha IJvestock Market.
OMAHA, Sept. 29. (U. S. Department
of Agriculture). Hogs Receipts, 6500;
fa-irly active, steady to strong; bulk
packing grades. $88.35; bulk 200 to
300-pound butchers, $910.15; top,
$10.20.
Cattle Receipts, 1500; trade slow, an
classes generally steady; full load beef
steers up to $10.90; choice grades scarce.
Sheep Receipts, 12.000: tat western
lambs steady to weak; bulk around $14
with $14.25 bid for best here; natives
and clipped lambs 2535c lower; top
natives, $13.75; clipped, $12.85; sheep
steady; ewe top, $6; feeding lambs slow.
1525c lower; other sales, $13.75.
San Francisco Livestock Market.
SAN FRANCISCO. Sept. 29. (Federal-
state quotations.) Cattle Market strong
and active; beef steers, good grade.
$7.75iS!: medium grade. tTOfTUn-. com-
Heattle Livestock Market.
SEATTLE, Sept. 29. Cattle Steady;
receipts, 20; prices unchanged.
Hogs .Steady; no receipts; prices unchanged.
KKCOKD WEEK'S TKADK IN KAIL
General Increase in Ifuying In Teitile
Market..
NEW YORK, Sept. 29. Bradstreet's
tomorrow will eay:
Trade ana industrial conditions very
generally show further improvement. Ex
pansion In fall buying, steady to high
er commodity prices, a still faster pace
in Industry, employment about the moit
widely ri ff fud nf the year. coile1nn
better and the tste northern crop ripen.
trig with trilling froit dm.o. are
among the notable features of the viwh.
outHtanding special features In a wek
which has en some of the laten of
the season made up for by more conM-
nt buying, are the reported hvtK
purchasing nf steel rails ever m-tnl
!u one week; a very general lm'rra
!! buying at primary market nf ell
the leading lenities, with Important ad
vances wltneftkCd in several kind, of rnt
ti.n goods, raw t!k and raw wool, the
bissppearance of the bile car (rmii the
rnilwny rerordn. wild th lrK"t lll
f loading witnme,i for 11 montlia pt
and an lncrBt coal output, thin mnro
especially vlflblc in the anthracite
branch.
Weekly
332. 01 '0.
bank clearing r tfM'.m,.
London Ksrliange Market I neeitled.
LONDON. Kept. 2. Hy the Ateoclal-
ed Press ) The foreign rulMni market
In considerably unsettled by the situation
in the neer emit. Thre are ennetent
rumors, but there Is nothing in the na
ture of a panic. The fr-etur of tndey'a
movements, and one cauelng eome cmi.
ment. was the decline of the New Ynrit
rate to SJ.ItiLfc per pound sterling Tli
decline was attributed partly to the fact
that coal phlpmente to America hate
ceased, while France and Rngland e
quire wheat and cotton.
Phone your want adg to The Ore-
iconian. AM Its renders are inter
ested in the classifier! rnlumns
lpkins 6 East Inc
jprocfressiveness
r-i
WEST-MADE
DESKS
A War Veteran
Bought a $5000 Home
Without a Cash Payment
This transaction was made
possible through our
ESCROW DEPARTMENT
Let us explain how this was
done and .how many other
deals can be simplified by
our escrow service-
Before
escrow
you buy
officer.
talk to our
litie and Trust
COMPANY"-:?
T1T2X AN r TKUBI BUTUMNO POBTLAeTD
t
3'J 5iSi."V
I II I ssB 1 I 1 1 I l Ilk tsl a I
I iUj I IIJI pwrvv
TTHtl- I F I ,1 1 1 v .
I " W- " II . 1 $NX t
LPT IJiilltkNifeS
1 SjCwsia
Portland's spirit of prepress i
exemplified fay Hopkins & East.
Inc., financial brokers and busi
ness managers. Their most re
cent achievement is completion
of plans for a $3,000,000 build
ing. This- mammoth structure
will cover the entire Failing
estate block between Fifth and
Sixth, and Taylor and Salmon
streets.
In keeping with their projrM
siveness, Hopkins & Eat, Inc.,
use West-Made dce-ks in their
offices. Their judgment can be
relied upon.
West-Made, the fifty-year
desk, will increase the efficifney
of your office. It will bring you
greater investment return. Man
ufactured on the Pacific Coast,
the substantial saving resulting
makes the West-Made moder
ately priced.
Vt'KT-M lK lKK COMPANY,
NMXl'FACTl.'REHS
I'ortland I. H. A.
Mold exelualvely- la Ier1laa ky
BUSH0NG & CO.
91 Park Street Broadway 0104
WE ST -MADE
The Fifty-Year Desk
(V