Morning Oregonian., October 21, 1922, Page 22, Image 22

22,
TITE MORNING OREGONIAN, SATURDAY, OCTOBER 21, 1922
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DEIS TAX LAXITY
Stock Dividend of Standard
Oil Not Income Evasion. '
LAW TO BE ENFORCED
Treasury Department Head Says
Certain Profits of Business
Must Be Tsed for Grovrth.
WASHINGTON. D. C, Oct. 20.
Secretary Mellon, replying tonight
to a letter from Representative
Frear of Wisconsin, republican
member of the house ways and
means committee, declared there had
has been and will be no laxity on
the part of the treasury in invoking
section 220 of the last revenue act,
which Mr. Frear described as pro
viding methods "for reaching the
holders of surplus stock when held
for the purpose of evading taxa
tion." Mr. Frear referred in his letter to
reports that the Standard Oil com
pany of New Jersey would issue a
400 per cent dividend and announced
his intention of leading a fight to
make income tax returns public in
order, as he said, to close up '"es
cape sluiceways."
Section Sot Applicable.
Mr. Mellon declared, however,' with
particular reference to the company
mentioned by Mr. Frear,. that sec
tion i'20 . had no relation te such
dividend declarations. He added that
"it would seem" that Mr. Frear was
"und.er a misapprehension concern
ing the situation as to this so-called
stock dividend."
"In the case of this company," the
letter continued, "the commissioner
of internal revenue found no evi
dence of the accumulation of sur
plus beyond the reasonable needs of
.the business."
The treasury secretary also stated
that "It Is not practical in any ac
tive business" to divide all of the
net earnings among the stockhold
ers. If part of the earnings were
not put back in the business, he
declared, there would be no indus
trial growth.
Purpose of Clause Defined.
"The declaration of a stock dividend-
is not significant in connec
tion with this section of the sta
tutes," the letter adds, "nor has it
any relation to a determination of
the commission under section 220.
The primary purpose of section 220
is to reach those corporations, the
stock of which is usually closely
held and the earnings and profits
of which are accumulated for the
purpose of enabling the sharehold
ers to avoid the payment of sur
taxes upon their dividends.
"As to the question of the accumu
lation of surplus by the Standard
Oil company of New Jersey out of
past profits, this company, I be
lieve, had ov.er $200,000, 000 of sur
plus, which was accumulated before
the passage of the income tax law
in 1913.
Accumulations Are Accretions.
"The accumulations since . that
time have been accretions from
earnings in addition to dividends
declared from year to year, but in
all of these years the company was
subject to full taxes upon its earn
ings some of it under the excess
profits and war taxes at the then
high prevailing rates. It is not
practical in any active business 'to
distribute all the net earnings in
'dividends to the stockholders and
if part of the earnings were noi
put back into the business there
would be no progress or industrial
growth. In the case of this com
pany the commissioner of internal
revenue has found no evidence of
the accumulation of ' surplus 'be
yond the reasonable needs of the
business.
"I have gone into this detail as to
the Standard Oil company of New
Jersey as you make that company
the example, but the same prin
ciples apply generally, and so far
as this department Is concerned,
there will be no laxity in invoking
the application of section 220 where
nver there is any basis for so do
ing." DAIRY PRODUCTS COMING
Fine Exhibits Assured as Feature
of tock Show.
Exhibits are now being mobilized
in Idaho, Washington, Oregon, Cali
fornia and British Columbia for
what in the opinion of General
Manager Mickle will undoubtedly be
the largest and most representative
dairy products show ever assembled
on the Pacific coast. These exhibits
of milk, cream, butter and cheese
will be refrigerated and shipped to
Portland just in time to reach their
destination for the opening of the
Pacific International Livestock ex
position, November 4 to 11, inclu
sive, and will comprise the land
products show, which will be staged
in the exhibits annex as a division
of the agricultural exposition.
In addition to the land products
show Mr. Mickle will have charge of
an extensive educational exhibit, for
wnicn two booths have been re
served by the Oregon dairy council
in the exhibits annex. .
DAILY CITY STATISTICS
Marriage Licenses.
McLBOD-SMOCK Guv Hamilton
T.rod, .43. Mohler,
Ur., and Dora Lee
Smock. 31. Almira apartments.
McFARRE.V-KINXAMON Charles
Elmer McKarren. 28. 284 Holladay ave
nuo. and Ida Mar Kinnamon, 19, 286
Holladay avenue.
LA MEAR-BLACK Fred W. La Mear,
22, 501' Livingston avenue, and Dorothy
F. Blaok. 19. 1209 Taggart street.
McBEE-HOOD Bird S. McBee. 21,
111 East Thirty-fourth street, and Eula
Hood. 18. 171 East Thirty-fourth street.
SCHULD-FISHER Irvin W. Schuld.
legal. Milwaukle, Or., and Marie F.
Fisher, legal, 360 Vancouver avenue.
D1.V1MICK-APPLEGATE Garland L.
nimmick, 22, 329 West Broadway, and
Elnor G. Applegate, 18. 342 Clay street.
HEILIG-VOGT Fred Heilig. legal.
674 Corona avenue, and Lucile Vogt, le
gal, 181 Twenty-fourth street North.
TODD-TUCKER Archie Todd, legal,
148 East Third street, and Julia Tucker
legal. 1795 Ea.it Davis street.
BANKS-MATTHEWS Kenneth A.
Banks, 23, Risley station, and Hazel L.
Matthews. 23, 1390 Belmont street.
KI'CULEa-JO.VES Edward E. Kuch
ler, 25, 628 East Morrison street, and
Dena Margaret Jones, 23, 1150 Taggart
street.
ANDERSON-HOOVER Mitchell An
derson, legal, 226 East Fiftieth street,
and Olive Hoover, legal, 82 Grand ave
nue. Vnnconver Marriage Licenses.
TAMKS-STATTBBR Fleming JameB
Turkeys Wanted
IiET I S QUOTE YOU.
WE PAY SAME DtY SHIPMENTS
AUR1VE.
THE SAYINAR CO,, INC.
100 Front Street, Portland, Oregon.
Jr.. 29. of San Francisco, and May M.
Staober, 25. of Portland.
HALE-FERRIS Nathan C. Halo, 22,
oi Loo Angeles. Cal., and Virginia Ferris,
19. of Los Angeles, 6al.
PEDDICORD-STRASSMTER Elmer
L. Peddicord, 29. ol Aberdeen. Wash.,
and Anna Strassmyer, 28, of Aberdeen,
"Wash.
BOWLES-BLAIR Martin Bowles. 24.
of Portland, and Aileen S. Blair, 21. of
Portland.
LEFLEY-PTACEK Frew W. Lefley,
3S, of Dayton, Or., and Mae E. Ptacek,
2J, of New York city.
UTILITY BILL ATTACKED
Certificate of Necessity Measure
Denounced by Tacoma Mayor.
TACOMA. Wash., Oct. 20. (Spe
cial.) A vigorous light against ref
erendum measure No. 12, known as
the certificate of necessity bill, is
being made by Mayor Fawcett, who
has sent an open letter to W. G.
Heinly, chairman of the Pierce coun
ty republican central committee, In
which he makes the following state
ment: The most Iniquitous measure that ever
came before the people is referendum
measure No. 12, know) as the certificate
of necessity bill. The purport of this
proposed law is to stifle competition.
Under its terms the three power com
panies of the state can develop their
plants to their full extent, but no new
power concerns can operate save with
the aiLiictton and consent of the public
service commission. If this bill be
comes a law the cities of Puyallup, Sum
ner, Buckley, Du' Pont Wilkeson and
Carbonado never can have their own
light plants.
If this had been a law 20 years aeo
Tacoma would still be a one-railroad
town instead of having four transconti
nental lines. If this law had not been
suspended by means of. the referendum
the people of the city of Tacoma would
still ba j ayinff a 10-cent fare instead of
having the 11 pass, because the jitneys
would not have been allowed to operate.
UTILITIES EARN PROFIT
Tacoma Light and Water Bureaus
Show Substantial Revenues.
TACOMA, Wash., Oct. 20. (Spe
cial.) The net earnings of the Ta
coma municipal light department
for .1922 passed the $600,000 mark
in September, according to the
monthly report of the department
presented to the city council today.
September's contribution In net in
come was $65,495. B0. The month's
gross earnings were $86,664.16 and
the operating expenses $31,838.51.
The operating revenues of the nine
month period were $921,139.57 and
the operating expenses were $317,
930.88. After payment of other
charges outside of bond redemption
the net was $600,961.42. '
The water department's earnings
for September were $47,479.65 and
the operating expenses $26,295.52,
leaving $21,274.13 of operating
profit, further reduced by tax and
other charges to $7047.06.
DRAINAGE BOARD NAMED
Members of Scappoose District
Elect Reclamation Directors.
SCAPPOOSE, Or., Oct. 20. (Spe
cial.) Members of the Scappoose
drainage district met yesterday and
elected a board of directors to man
age the reclamation work. E. E.
Wist of the First National bank of
Scappoose was elected president and
Albert Johnson of Scappoose and
Dr. Cldye Mount of Oregon City
were the other two chosen.
The Scappoose drainage district
was formed on October 4 at a meet
ing of the Columbia county court
and includes 5000 acres of fertile
bottom land. The project, it is esti
mated, will cost about $200,000. The
purpose is to reclaim the 5000 acres
of land from the June overflow and
guard it against a 30-foot rise so
that the land can be cultivated in
stead of being used for pasture, as
it is at the present time.
Oregon Banking and Bond
News.
Recognition for an excellent address
on the topic, "Our National Policy of
Taxation in Its Relation to Foreign
Trade," by. .Christian Petersen, manager
of the foreign exchange department of
the United. Mates National bank, before
the American Institute of Banking con
vention here last July, has been given,
by the October bulletin of the Institute
of Banking. The address is accorded
leading article space in the current is
sue of the publication.
Some gratification was felt yesterday
at the United States National bank over
the fact that a Liberty Bell saving cam
paign, such as was put over in very
gratifying fashion by the local institu
tion a year ago, has been even more
successfully carried out by the Seattle
National bank, which profited by the
experience of Portland. During ten days
the Seattle institution opened 10,350 new
savings accounts with' its campaign. The
United States National a year ago opened
7071 new savings accounts during its
Liberty Bell drive, also of ten days. E.
C. Sammons, assistant cashier, went over
the plan with the Seattle house and gave
the results locally. J. H. Miner, former
ly teller at Ladd & Tiiton's, now assist
ant cashier of the Seattle National, had
charge of the campaign.
First meeting of the winter season of
the new forum of the Portland chapter
of the American Institute of Banking
was held last night at the Portland
hotel. F. Greenwood, manager of the
Portland branch of the Federal Reserve
bank, gave . the address of the evening
on "The Relation of Member Banks to
Federal Reserve Banks." The forum
will meet each month throughout the
winter season.
J. W. Hoech, cashier of the Eastern
Oregon Banking company of Shaniko.
was among" out-of-town callers at the
Ladd & Tilton bank yesterday. He re
ported everything in good shape in that
district, noted for its big wool clip each
year, and said the chief difficulty ex
perienced the present season is & lack
of cars to handle the products of that
part of the state.
"Vice-presidents of Portland's leading
tanks will be numerous on the Chamber
of Commerce trade excursion to south
west Washington cities, leaving Portland
tomorrow at midnight. On the list will
bs Charles H. Stewart of the Northwest
ern National; Walter A. Holt of the
United States National; A. O. Jones, of
the First National, and R. S. Howard of
the Ladd & Tilton bank. Accompanying
r1"6 ,aBl namea win oe cam j. xoung oi
the bond department.
C. W. Love, vice-president, and J. A.
Hoobler, Pacific coast manager of the
Chicago bond , house of Halsey, Stuart &
Co., were in the city yesterday on their
way home from the recent Del Monte.
Cal., convention. They spent the day
calling on bond houses and renewing old
acquaintances In the financial district.
Clark, Kendall Co. is offering its
participation or a new xz.ouv.uuu Issue
of 6vi per cent sinking fund, flrst-mort
gage bonds of the Pierce, Butler & Pierce
Manufacturing corporation at a price of
100 and interest, yielding 64 per cent.
The bonds are 20-year securities and
represent a first mortgage upon all real
estate, plants and equipment of the cor
poration. Net tangible assets, it is said.
amount to f suz lor eacn siuuv Dona.
C. K. Bell, cashier of the' Bank of
Winona. Wash., was among out-of-town
callers at the Northwestern National
bank yesterday. Mr. Bell said the wheat
crop about Winona this year is not so
good.
W. J. Bergman, president of the Bank
of Waldport, Or., called upon banker
friends in this city yesterday. Mr. Berg
man said his part of the state is always
prosperous, with dairying, lumbering,
fishing and agriculture the main reli
ance of the people for material success.
He declared the coast waa the best part
of Oregon and that there was more ac
tual contentment and real happiness'
there than in any other section he had
seen.
Phone your want ads to The Ore
gonlan. All Its readers are inter
ested in the classified columns,
C1S1HT10E
LARGER THIS YEAR
Dealers Reluctant to Buy
Potatoes and Apples.
PAST NOT PROFITABLE
Xo Important Change In Potato
Situation Expected Before
Turn of Year,
Considerable anxiety among produc
ers of potatoes and apples throughout
the country as to whether they can suc
cessfully market these products this
season was revealed by recent investi
gations made by officials. In fact, grow-,
era of nearly all kinds of fruits and
vegetables in any considerable quantity
have had to face a very different sit
uation this year.
In the case - of potatoes the growers
are finding it rather difficult to dis
pose of their crops through dealers. Dur
ing the past two years dealers for the
most part lost money on potatoes which
they bought or contracted for early in
the autuin and which they later were
forced to sell at prices which were un
satisfactory to them.
With the memory of these two years
fresh In their minds and facing the
marketing of a potato crop estimated to
be the largest for a good many years,
dealers generally are refusing to put
anyv appreciable amount of money in
potatoes. Instead, most of them are
handling potatoes for the grower's ac
count, and a few large operators are
discouraging even this method of
handling because they fear that unsatis
factory returns to producers might have
a disastrous effect upon their opera
tions for another year or later this
season.
Growers who find it impossible to sell
their r-otatoes for cash at loading points
and who are somewhat uncertain as to
the best method of marketing their crop
are turning over their potatoes to firms
for handling on a commission basis or
consigning tos various markets on their
own account. There is no indication that
the situation will change radically, at
least prior to January 1, and the po
tato deal promises to be one involving
few sales at shipping point, with many
cars consigned to markets all over the
country.
Similar difficulties have also been en
countered in the marketing of apples
this season. Last year the crop of so
catled early apples was practically a
failure. Up to September 30, this year
about 15,500 cars of apples were re
ported shipped from the barreled-apple
sections compared with 0600 shipped to
the same date last year. In addition to
tnis large Increase in carlot shipments,
home-grown stock has been supplying
many markets to the exclusion of out
side stock.
In some sections prices are
not over one-half of what they were
a year ago, and, as in the potato deal,
very few dealers have made contracts
for, or purchased outright, apples in
producing sections.
Although .the latest estimate of the
production of commercial apples in the
United States shows a greater increase
over the 1921 crop than is true for the
potato crop, the marketing situation for
the immediate future .appears to be
somewhat brighter. A large proportion
cf the estimated increase in the total
commercial apple crop was In the heavy
crop of early or summer varieties.
In some of the heaviest eastern pro
ducing states, notably New York and
Michigan, the late crop of apples Is
considerably below normal.
With the earlier varieties beginning to
clean up in many sections, dealers are
again manifesting interest in contracting
for standard fall and winter varieties
and sales of small blocks of such apples
aie reported to have, been made in the
principal barreled-apple sections in the
e;ist. The deal in the Pacific northwest
has progressed slower than it has in
the east and shippers are buying cau
tiously, if at ail, until they can de
termine what prices they can afford
to pay.
WHEAT BIDS STEADY AT EXCHANGE
Portland Cargoes for Europe Sold at
$1.1614 and $ 1.15V4.
The wheat market was fairly active
yesterday without material change in
price. At the Merchants' Exchange west
ern white and soft white were 1 cent
higher and hard winter 1 cent lower.
Other bids were the same as Thursday.
Two cargoes were sold for Europe, one
at equal ' to $L1634 and the other at
$1.15 ft.
The coarse grain market was quiet
and unchanged.
The Chicago wire to the Gray-Rosen-baum
Grain company follows:
"Excellent buying on break caused
sharp rally. Milling demand in all mar
kets gooa. premiums maintained; no
improvement car situation indicated.
Winnipeg relatively stronger. Good ex
port demand. Theoretical import require
ments eight ninety-two million; probable
surplus eight sixty-two million. Market
technically stronger. Further advance
would not surprise."
"Liverpool wheat closed ld lower
at 10s d lor December; 9s 7d lower
for March and 9s 4 d for May.
Buenos Aires wheat opened unchanged
at $1.20 for October and $1.12 for
February.
The Roumanian wheat crop .Is est!
mated at 87.600,000 bushels against 78,-
400,000 bushels lest yean Corn at 105,-
400,000 bushels against 168,000,000
bushels.
Argentine shipments this week were
1,300,000 bushels wheat.
Terminal receipts, in cars, were re
ported by the Merchants' Exchange as
follows: v
Portland
Wht. Bar. Fir. Crn. Ots. Hay.
i'riaay .... io . . 1 .. 2
Year ago... 72 1 10 2 . . 19
Sea. to date 7.789 201 509 259 291 5(16
lear ago... 13,774 107 824 150 416 534
Tacoma
Thursday .. . 43
Year ago. . . 45
Sea. to date 2.547
Year ago. . . 4,915
Seattle
Thursday .. 21
Year ago. . . 12
tea. to date 2,907
Year ago... 3,324
3 ..
... 3 1
11 349 140
72 564 79
51
72
6 1
2 7 1
7 871 418 200 44
96 783 334 231 587
APPLES STEADY IN LOCAL MARKET
Delicious, Extra Fancy Large, Offered at
. 3 Box.
The local apple market was steady
with a moderate demand. The Inquiry
was mainly for Northern Spys and Jon
athans at $1.502. Jobbers are offering
Delicious at $3 for large extra fancy, but
report few sales.
Carlot business In the country was
limited. Yakima reported extra fancy,
medium to large Jonathans at $1.30
1.35 and choice at 85 cents; Winesaps,
extra fancy, at $1.451.75, and small at
$1 10; Delicious, extra fancy, at $2.15;
Staymens, choice, at 85 cents. In other
districts, medium to large extra fancy
Delicious sold at($1.952; Jonathans,
combined extra fancy and fancy at $1.25;
Romes, extra fancy at $1.15, and small
extra fancy Winesaps at $1.10 cash.
SOUTHERN SHIPMENTS CHECKED
Local Batter Market Adversely Affected.
Eggs Are Slower.
The California outlet for butter no
longer exists since prices slumped there,
and this has had a weakening effect on
the local situation. The egg market
was. firm, -influenced by higher prices
east and south, but the recent advance
here, "according to dealers, has checked
local consumption. There has also been
some difficulty in maintaining whole
sale prices because of the lower quota
tions prevailing on the Yamhill retail
market.
Poultry and dressed meats were steady
and unchanged.
Bank Clearings.
Bank clearings of the northwestern
cities yesterday were as follows:
Clearings. Balances.
Portland . 13,901,5(12 Jl.589,170
Seattle 5.788.4S8 1,603,877
Spokane 2,158,566 1,048,634
Tacoma, . transactions 2,486,000
PORTLAND MARKET QUOTATIONS
' Grain, Flour, Feed, Etc.
Merchants' Exchange noon, session:
October. November. December.
Bid. Afik.
Bid. Ask. Bid. Ask.
Wheat
H Wht $1.25
$1.25
1.17
1.22 1.17
1.10
1.13
1.10
$1.25
1.16
1.22 1.15
1.10
.... 1.12
.... 1.08
S Wht. 1.17
W Wht 1.17
H Win 1.12
N Spr.. 1.13
W Red. 1.10
Oats
38 Nat 34.50
36 Clp 33.50
34.50 .... 34.50 ....
33.50 .... 83.50
38 Nat 36.00 37.00 36.00 36.75 36.00 38.50
Barley
44 lb... 32.50 32.50 32.50 ....
40 lb... 32.00 34.00 32.00 34.00 32.00
Corn
2 E Y. .34.00 33.50 ...
SKY. .33.50 33.00 . . .
Millrun
26.50 26.50 ...
FLOUR Family patents,
82.00
31.50 32.50
26.50
$7.00
per
barrel; whole wheat, $6.20; graham, $6;
bakers' hard wheat, new, $6.oO, bakers
bluestem patents, new, $ 6.75; valley bak
ers', (5.90.
MILLFEED Price f. o. b. mill: Mill
ran, ton lots. $29; middlings, $41; rolled
barley, $36038; rolled oats, $43; scratch
feed, $44 per ton.
CORN White, $37; cracked, $39 per
ton.
HAT Buying price, t. o. b. Portland:
Alfalfa, $1818.50 per ton; cheat, $18;
oats and vetch, $20; clover, $1; valley
timotny. $20; eastern Oregon timothy,
$20 21. '
Batter and Country Prod nee.
BUTTER Cubes, extras, 44 45c lb.;
prints, parchment wrapped, box lots, 48c;
cartons, 49c. Butterfat, 48c. delivered
Portland station, buying price, A grade,
45c.
' EGGS Buying price: Current receipts,
loss off, 4445c dozen; henneries, 4800c
dozen. Joobing prices: Front street, can
dled ranch, 50c; selects, 52c; association
selects-, 53c; firsts, 51c; pullets, 45c.
CHEESE Tillamook triplets," price to
jobbers, f. o. b., Tillamook, 30c; Young
Americas, 31c; longhorns, 31c pound.
POULTRY Hens, 1323c lb.; springs,
2021c; ducks, 1523c; geese. 1520c;
turkeys, live, 3034c; dressed, choice,
40 cents.
VEAL Fancy, 14c per pound. '
PORK Fancy. 15 c per pound.
. Frnlts ana Vegetables
Local Jobbing quotations:
FRUITS Oranges, Valencia, $4.50
10.50 per box; lemons, $7 11; grapefruit.
$7.509.50 box; bananas, 9V10tto lb.;
cantaloupes, $1.75 to $2.50 per crate;
peaches, 50c $1 per box: casabas, 2
8c lb.; pears. $1.502; grapes, $23.75
per box, 18(2uc basket; prunes, 3 4c
lb.; apples, $13 per box; cranberries,
$5.50 per box; huckleberries, 15 lac per
pound.
POTATOES Oregon. 90c$1.25 per
sack; Yakima, $1.401.50 per sack;
sweet potatoes, 34c per lb.
ONIONS Oregon, $1.25 1.75 per sack.
VEGETABLES Cabbage, 11C pet
pound; lettuce, $1.502.00 per crate;
garlic. 1220c pound; green peppers,
57c per pound; tomatoes, 3050c pet
crate; cucumbers, 3550c per box; green
corn, 1520c dozen; eggplant, 810c
pound: Hubbard squash, Sc per pound;
beets. $1.75 per sack; turnips, $1.60 per
ocLijo., i,ouitiiuw;t, novmQX uuavu, taieijr,
I5c$L15 dozen.
Staple Groceries.
Local Jobbing quotations:
SUGAR (sack basis) Cane, granulated,
7.80c pound; beet, 7.60c per pound.
NUTS Walnuts, 1535c per .pound;
Brazil nuts, 13A16c; almonds,' IBM, a
28c; peanuts, b9c per pound.
111.1, Blue Rose, 7c per pound; Japan
style, 6. 10 6.25c per pound.
CUM'ISiS Roasted, bulk, in drums.
20393C per pound.
SALT uranu.ated. barrels.' K2.Bnn
3.65; half ground, tons, 50s, $17; 100, $16.
umnu 'KUli8 Dates, 14c pound;
figs, $1.02.75 per box; apples. 1213o
per pound; peaches, 16c; prunes, 1416ci
apricots, 23 32c.
BEANS Small white, 6c; pink, &c;
red, o'-tc; lima, i) life 11c; bayo, 6 lie per
pound
HONEY $44.50 per case.
Provisions.
Locat Jobbing quotations:
HAMS All sizes. 2832c per pound;
skinned. 31c; picnic, 19c; cottage roll.
mou per pouna. I
BACON Fancy, 3946c; choice, 32
36c; standards, 28 30c
LARD Pure, tierces, 17c per pound,
DRY SALT BACKS 2023c: plates,
IS cer.ts.
Hides, Hops, Etc.
HIDES Salted hides, all weights, 12c;
green hides, all weights, luc; salted
buLs, 9c; graen bulls, 8c; salted or green
call.. 17c; salted or green kiD. 14c: hair-
sttpped hides and skins half price; flint
ary niaes, ioc; lilnt ary calf-and kip,
16c; dry salted hides, 12c; culls and
uamaged, half price: green or salted
horse hides, each $23; colt skins, each
50c$l; dry horse, each 75c$1.25, with
mane ana tail on.
SHEEP PELTS Dry sheep pelts, long
wool, ic; ary eneep pelts, short wool.
lO&c; dry sheep pelts, pieces, 10Hc; dry
snearungs, eacn, ozoc; salted pelts,
Ions . wool, $11. 50 each; salted pelts,
short wool, iOC1.25 each; salted
shearlings, 1050c; salted goats, long
natr, iz; saitea goats, shot., hair,
50c$l;. dry goats, long hair, per lb.,
.35c; dry goats, short hair, each, 25 50c;
goat shearlings, each, 1020c
TALLOW No. 1. 551tc; No. 2, 4
be per pound; grease, 34c per pound.
CASCARA BARK New peel. 7o per
pound; old peel, 8c per pound,
OREGON GRAPE Grape root, 7c per
pounu.
HOPS 1922 crop, 7llc per pound.
WOOL Valley wool, fine and half-
bload, 30Joc; three-eighths blood. Soffl
82c; quarter blood, 2527c; low quarter
ana Draia, ioic; mattea. 1618c
MOHAIR Long staple, 32c delivered
Portland; short staple, 27c; burry, 22c
per pouna.
Oils.
LINSEED OIL Raw, In barrels. SLIO
5-gallon cans. $1.25; boiled. In ba. m-x
si.tz; o-gaiion cans.
TURPENTINE In drums. $1.82; A
gallon cans, $1.97.
WHITE LEAD 100-pound kega, ' 13c
per pouna.
gasoline Tank wagons and
iTon
barrels. 26c; cases, 37a
Lumber.
The following are direct auotatlona on
Douglas fir and represent approximately
prevailing f. o. b. mill prices In carlots
and are based on orders that have been
negotiated:
Prevailing
Floorings High.
1x4 No. 2 VG $51.00
1x4 No. 3 VG 43.00
1x4 No. 2 & B, SG 39.00
1x6 No. 2 & B, SG 44.00
Finish No.-2 and better-
1x8 10-lnch 59.00
Casing and base .. 63.00
Ceiling
low. .price.
$49.00
40.00
38.00
41.00
56.00
x4 No. 2 & B
Drop siding
i-wR V,. O Jt, D
3S.00
37.00
40.00
33.00
41.00
36.50
41.00
" i lxfi No. 3 ..
JU , RnarHc anA ST. XTn 1
1x8 10-Inch SIS ... 20.25
lx!2-inch 20 00
16.50
18.00
Dimension No. IS R
2x4 12-14 19.50 15.25
Planks and small timbers
4x4 12-16 S 4 S ... 22.25 18.50
3x10-12 12-18 S 4 S 23.00 21.00
Timbers 32 feet and under
6x6-8x10 Rgh 22.00 ....
Lath
Fir 4.50
19.50
Chicago Potato Market.
CHICAGO, Oct. 20. Potatoes about
steady on wnites; Ilrm on Early Ohios
receipts, 82 cars; total United States
snipments, iow; Wisconsin sacked and
ouik round whites, 90c8$l cwt.: Minne
sota sacked Red- RiveT Ohios, United
states no. l, ji.ioi.20 cwt.; ditto bulk.
$1.201.25 cwt.; Minnesotaacked round
whites. No. 1. 8095c cwt.; North Da
kota sacked Red River Ohios No. 1, $1.15
1.20; South Dakota sacked round
whites No. 1, 8090c cwt; South Dakota
bulk Early Ohios United States No.
$1 cwt.
Metal Market.
NEW YORK, Oct 20. Copper Dull.
Electrolytic spot and futures, 1314c.
Tin Easier. Spot and futures. 34.87
Iron Steady. Prices unchanged.
Lead Steady. Spot. 6.5C6.75c.
Zinc Firm. East St Louis, spot and
nearuy aenvery. o.soc.
Antimony Bpot, 6.7597c .
mm ncuflumn
miLUIlQ ULIVIHIIU
FOR WHEATBRISK
Receipts at Kansas City
Cleaned Up Quickly.
EARLY VALUES LOWER
December Sellers Purchase May
and Sharp Upturn Comes
at Market Close.
CBy Chicago Tribune Leased Wire.)
CHICAGO, Oct. 20. Liquidation by
longs in December deliveries of all grains
.had a decidedly depressing early effect
on values. On the break, the sellers of
the December replaced that line by pur
chases of May. Local ' traders were
caught short when the buying com
menced and a sharp upturn came toward
the last. Final trades were c lower to
..c higher on wheat, 9ic higher on
corn, a higher on oats and Vi ?4c
lower on rye. . .
At the inside figures wheat was off
2tt5ftc, corn 22c, and oats 1
2&c from the high on Wednesday which
niany traders regarded as sufficient re
action for the time being and their buy
ing was mainly responsible for the up-
urn.
Cash wheat Demand Brisk.
Milling demand for cash wheat was
brisk in all markets with all receipts
at Kansas City cleaning up quickly. A
Minneapolis mill was reported as hav-
ng sold 60.000 barrels flour to a New
York baker. - December wheat, which
was 2 cents over the May earlier in the
week closed c under today. Fears of
a larger movement in the near future
and declining premiums were factors in
lnauclng liquidation.
A statement from the department of
commerce suggesting that import coun
tries need 892,000,000 bushels wheat, or
32,000.000 bushels less than the surplus
countries have to spare, fell flat as a
market influence. Liverpool closed ld
lower. Winnipeg- reported heavy deliv
eries . of wheat by farmers but that
market showed considerable strength
throughout the day and finished
114c higher.
Rumanian Crop Smaller.
December corn, which sold Thursday
at even with the May, dropped to almost
lc under today as the result of liquida-
lon and the finish was at c discount
prospects of larger receipts being a fac
tor, although the general run of re
ports from the interior indicated, iittle
change in the car situation., Rumanian
CI op is 63,000,000 bushels less than last
year. Export demand was a little slow,
but shippers were after yellow corn here
and paid as high as 7c pver the Decem
ber, the best basis of tie season. ,
Sellers of December oats in many in
stances replaced their lines by pur
chases of the May on the break. North
western and southwestern cash advices
wfTe of a bullish character and had some
effect. Receipts here were 62 cars, with
the basis firm as compared with De
cember. Rye was sold against purchases of
wheat, which widened the difference
somewhat Deliveries on October con
tracts at Winnipeg aggregated 107,000
bushels.
The interstate commerce commission
has ordered eastern railroads to give
western lines more cars. One order is
for the Pennsylvania to give the Burling
ton 1000 cars and the latter is to give
them to the Northern Pacific and Great
Northern. The cars are being delivered
few at a time. Several hundred cars
have been delivered to western lines in
central Illinois of late. Other orders
are out for a return of foreign cars, on
eastern roads to owners. All railroads
have lost cars of late and are short. - It
is said by railroad officials that It is
Impossible for them to furnish cars in
large numbers tor any Industry.
A good rally in stocks and cotton, late
in the day, tended to increase the con
fidence among holders of grains. It
added to the rally and fairly strong
close. .
-
The large buying of December corn, on
the break, was for a New York exporter.
On the advance, the same nouse became
a good seller of May, ,
Many millers " were at the board of
trade today, all of whom reported tne
milling trade active witn large sales
aneaa. .
Importing countries of the world pro
duced 245,000.000 bushels of wheat less
this year, according to a report from the
department of commerce, than in 1921.
Imports for the year ending August 1,
1922. were 647.000,000 bushels. If con
sumption this year is equal to that of
last season, importing countries would
be forced to buy 892.000,000 bushels. Ex-
rorting countries raised 213,000,000 busn
els mon than - last year and on the
basis of last year's exports could furnish
xno.noo.ooo bushels for tne 1H22-23 sea
son. European rye crop Is 53,000.000 bush
els less than last year and tnat oi tne
United States and Canada 60,000,000
bushels more than In 192L
The Chicago grain letter received yes
terday by the Overbeck & uooke com-
narv or fnrtiana rouows:
Wheat Prices movea in an irregular
manner. The DecemDer ciosea aoowt o
lower and May showed a fractional net
gain. This was due to liquidation of the
nearby position and did not reflect any
change in car situation or the cash mar
ket. Spot prices were lower with the
December but the trading oasis was
firm and premiums fully maintained.
Minneapolis reported a strong casn mar
ket with a biff demand of a more gen
eral character than for some time past
Flour trade throughout tne country con
tinues exceptionally good, accounting for
the lack of accumulation at' primary
centers in face of comparatively- small
clearances from the seaboard. Seaboard
news agencies reported activity In ex
port circles, out couia not give uib
amount of business done. The depart
ment of commerce iseued a statement
showing 245,000,000 1 bushels less wheat
produced by tne importing countries or
Europe this year, assuring a demand for
North American wheat at least until the
crops of the southern hemisphere be
come available. The theory is tnat tne
fluctuations of the past few days nat
urally followed the recent advance and
should not be considered a turn in upr
ward trend (-f the jharket.
Corn As In wheat there was-consid
erable liquidation in nearby positions,
but the market recovered wetl - and
closed with a decidedly strong tone. The
cash demand continued active and spot
prices gained on the futures, wmch had
much to do withe late recovery. No
2 yellow sold 7c over December, not sn
encouraging feature to shorts in that
month, especially as the country is not
disposed to contract new corn freely at
present prices. some sales were made
to exporters out of Chicago today and
the seaboard reports a good demand with
considerable business likely to be worked
before the end of the day. We look for
the market to. resume its upward course
as the liquidation of past few days has
been digested.
Oats Selling of December carried that
month to a discount under May, but the
general market was anything but weak.
Receipts were small and the cash, mar
ket stead v at yesterday's basis. ' Sales
were made to exporters out of Chicago
at about 4c over December. , Country
offerings to arrive light.
Rye Trade waa moderate and the
market 'strong in the absence of con
spicuous selling pressure. Cash prices
were lower and the basis reduced . lc as
compared with the December.
Leading futures ranged as follows:
WHEAT. ':
Open. High. Low. Close.
Dec... 1.12 $ 1.1-" 1111 $ U2
May.. 1.11 1." - 1.11 1.12
July.. , 1M 10S 1.04 1.05
' CORN. -v
Dec 67 : .68 .66 . .67
May..' ,67 .69 ' .67 .68
July.. .67 .69 .67 .68
' OATS. ' " '
Dec... .42 . 42 .41 ,. .41
May.. -.42 .42 . .41 , .42
July.." -30 .40 ,39 . .39
, ' . LARD.
Oct.. ' 10.82
Jan... 9.57 9.57 9.52 9.52
SHORT RIBS.
Oct ". ' . 10.50
Cash prices were as follows:
Wheat No 2 red. $L17'&8'1.18'4; No.
la hard. $L16i81.1v,
Corn No. 2. mixed, 73?474c; No. S
yellow, 73 7414 c
Oats No. 2 white, 4446c; No. 3
white, 42"i43ic.
Rye No. 2. 8014 SOfcc
.tiariey tVig i lc
Timothy seed $8.506.50.
Clover seed $15 20.
Pork Nominal.
Lard $10.37.
Short ribs $1012.
a. ,
Minneapolis Grain Market.
Reported by the McCaull-Dlnsmore
Grain company of Portland:
Wheat No. 1 dark northern, good to
fancy, to arrive, $1.13 1.27 ; fancy
No. 1 dark northern. $1.21 1.2S ;
No. 1 dark northern. $1.12 1.20 ; to
arrive, $1.12; No. 1 northern, $1.10
1.18; to arrive, $1.10; fancy No. 2
dark northern, $1.15 1.23 ; No. 2
dark northern, $1.07 1.17; No. 2
northern, $1.06 1.15 ; fancy No. 3
dark northern, $1.12 1.18 ; No. 2
dark northern, $1.0 1.12 ; No. 3
northern. $1.02 1.11 ; No.' 1 dark
hard Montana. $1.15 1.20 ; to ar
rive. $1.15 1.18 ; No. 1 hard Mon
tana. $1.081.11; to arrive, $1.08
1.11; No. 1 dark hard Minnesota and
South Dakota, $1.10 91.12 ; to arrive,
$1.09l.ll; No. 1 hard Minnesota
and South Dakota, $1.06 1.08 ; to
arrive $1.06 1.08 : fancy No. 1 am
ber nrum' $L0414 1.09 ; to arrive,
$1.01 14 g-1.04 14 ; No. 1 amber durum,
$1.021.04; to arrive, $1.0014; No.
1 amber durum, 90 97 14 c; to arrive,
$1:0014; No. 1 durum. ,9014 9714c; to
arrive, 9014c; fancy No. 2 amber durum,
$1 0214 1. 0714 ; No. 2 amber durum,
$-.00 1.0214; No. 2 durum, 87
93ttc
Corn No. 2 yellow, 7071e; to arrive,
06c; No. 8 yellow, 69 70c j -to arrive, 65c.
Oats No. 2 white, 3841c; No, 3
white, 3740c; to arrive, 36
37c.
Barley Choice, 60 (9630; medium good,
55 58c; lower, 50 54c.
Rye No. 2. 7074c; to arrive,
6971c.
Flax No. 1, $2.44 2.47; to arrive.
$2.4414.
Wheat futures December, $1.08c;
May, $1.11.
Cash Grain Markets.
Furnished by Jordan-Wentworth & Co.,
Portland.
. ST. LOUIS, Oct 20. Wheat No. 2 red,
$1.12; No. 2 hard, $1.181.24.
Corn No. 2 mixed, 7373c; No. 3
mixed, 72c; No. 3 yellow, 7314c; No. 2
white. 74c.
Oats No. 2 white, 46 47c.
-KANSAS CITT, Oct. 20. Wheat No. 8
red. $1.171.17; No. 2 hard winter,
$1.16 1.27; No. 3 hard winter, $1.14
1.21; No. 2 mixed, 72c.
Corn No. 2 yellow, 72c
DULUTH, Oct. 20. Flax, $2.462-47.
San Francisco Grain Market.
SAN FRANCISCO, Oct. 20. Wheat
Milling, $1.901.95.
Barley Feed, $1.37 1.42 ; ship
ping, $1.451.55.
Hay Wheat, $16a19; fair, $1416;
tame oat, $1619; wild oat, $1315; al
falfa, $1619; stock, $1113; straw, $11
12.
Primary Receipts.
CHICAGO, Oct. 20. Primary receipts:
Wheat, 1,464,000 bushels vs. 1,688.000
bushels. Corn, 1,068,000 bushels vs. 854,-
ooo bushels. Oats. 729.004 bushels vs.
667,000 bushels
Shipments Wheat. 1.070.000 bushels vs.
1,756.000 bushels. Corn. 1,133,000 bushels
vs. 535,000 bushels. Oats, 716,000 bushels
vs. 448,000.
Clearances Wheat 234,000 bushels.
Flour, 13,000 bushels. Corn, 87,000 bush
els. Car lots: Minneapolis Wheat, 33;
corn, 2. Winnipeg Wheat, 1528; corn
oats, 108; flax, 16. Duluth Wheat, 168;
flax, 17. Kansas City Wheat, 154;
corn, 15; oats, 15. St. Louis Wheat, 81;
com, 56; oats, 36. Omaha Wheat, 64;
corn, 69; oats, 17.
Seattle Grain Market.
SEATTLE, Oct. 20. Wheat Hard
white, soft white, western white, hard red
winter, soft red winter, northern spring,
$1.18; western red, $1.16; Big Bend blue
stem, $1.35. . t
a eed and hay unchanged.
Winnipeg Wheat Futures.
WINNIPEG, Oct. 20. Wheat. October,
$L01; December, 97c. Hay, $1.02.
SAN FRANCISCO PRODUCE MARKET
Prices Current on Vegetables, Fresh
Fruits, Etc at Bay City.
SAN FRANCISCO, Oct. 20. (State
division of markets.) Poultry Fryers,
27 29c; broilers. 28 36c; young roosters,
272Uc; old, 1418c; hens, 1829c;
ducks, 1820c; live turkeys, 8238c;
dressed, nominal;, hares, per pound, 15
loc; squabs, dozen, $3 3.50; jack rab
bits, dozen, $22.50.
Fruit Apples, box, $12.25; new
green apples, lug box, 75c$1.25; black
berries, dr., 40 65c; cantaloupes, stand
ard crate, 60c $1.50; figs, black double
laver. box. $1.60i.75; grapes, crate, 75c
1.25; grapefruit, $6.507; huckleber
ries, nominal; lemons, su.ou9; logan
berries, nominal; nectarines, crate. $1
1.25; oranges, Valencias, $611; peaches,
65cfiil: Bartleit pears, $1.502.60; per
simmons, . flat crate, $11.50;; Persian
melonB crate, 60c $1.10; plums, crate,
$1.602.25; pomegranates, small box. $1
1.25; raspberries, dr.. 6075c; straw
berries, dr 6075c; quinces, box, $1.25
1.50- watermelons, pound, lc and less.
Vegetables Arti.hokes. lug, $1215;
beans, lb., 8 14c; cabbage, pound. 2c;
cauliflower, doz., 75o$l; carrots, sack,
$11.25; celery, crate. $23; cucum
bers, lug. $1.251.75; eggplant, lug,
50c$l; lettuce, crate, $1.502; green
corn, sacks, $1 503; . beeU, sack, $1
1.25; onions, brown and yellow, cwt.
$1.40 1. 00 at wharf; green, box, $1.26
1.50; peas, pouna, fuc; pen peppers,
lua. 4075c; potatoes, cwt, $1.102.25
sweet, pound. 22c; rhubarb, box.
$1.252; summer squash, lug, $1.50
2: spinach, pou.id, 6ic; tomatoes, mg,
75c$1.25: turnips, sack. 75c$l; parsley,
dozen bunches-, 30c only; radishes, dozen
bunches, 30c only; brusBel sprouts, pound,
67c; garlic, pound, 35c: pump
kins and squash, sack. $1.26 1.75.
Receipts: Flour. 12,300 quarter sacks;
barley. 148.235 centals; corn, 100 centals;
notatoes, 5438 sacks; onions, aug sacks;
hay, 20 tons; hides, 666; livestock, 400
head.
DAILY METEOROLOGICAL REPORT.
PORTLAND, Oct. 20. Highest tem
perature, 64 degrees; lowest tempera
ture. 50 degrees. River reading, 8 A. H.
3.2 feet; change in last 24 hours. 0.4
foot fall. Total rainfall (S P. M. to a r.
M. ), none; total rainfall since Sept 1,
1922. 3.20 inches: normal rainfall since
Septembef- 1, 4.15 inches; deficiency of
rainfall since September 1. 1922, 0.86
inches. Sunrise, 6:35 A. M. ; sunset,
5:17 P. M. ; total sunshine, 5 hours, 23
minutes; possible sunshine, 10 hours.
42 minutes. Moonrise, Saturday, 7:62
A. M. : moonset Saturday. 6:25 P. M.
Barometer (reduced sea level) 5 P. M.,
30 35 inches. Relative humidity: 5 A. M..
96 per cent; noon, 64 per cent; o p. M.
65 per cent
TH5) WEATHER.
STATIONS.
Weather,
Baker. .
Boise
Boston
Calgary
Chicago
Denver
321 f,4lO.O
S8 6II O.no
NW
Cloudy
;NW
Clear
86 4610.00
36 5210.00
N
E
E
N
S
N
ICIear
Cloudy
ICIear
ICIear
!Clea-
Clear
Clear
12
44) 54)0.00 ..
6810.00 . .
72 0.00 . .
62IO.00il4
Des Moines;
Eureka .
Calveston
Helena . .
tJuneau
521
7410. 001.. IE
46 52I0.04124SW
Cloudy
L. Angeles
7410.00
700.00
680.00
5610.00
76l0.00
iw
iClear
Clear
Clear
Marshfield
Medford..
Minnean.
NW
w
SE
SE
Clear
N. Orleans
Clear
Clear
N. York
50:0.00
NW
Nor. Head
5810.00
880.00
N
W
Clear
Phoenix
Pocatello
Portland
Roseburg
Sacra. . ,
Clear
ICIear
Clear
6610.00
6410.00
sw
N
6210.00
8010.00
N
Clear
NW
Clear
St. Louis
481 7010.001
Clear
Salt Lake. 48 64l0.O0..NW
Cloudy
San Diego. 68 BHiu.uu . . w
Clear
;Clear
San Fran.. 54 76l0.00ll4W
Seattle
tsitka .
Spokane
Tacoma
631 600.00..E (Cloudy
... ... $62
.. 46 eOiO.lOL. E Cloudy
..I. ..I 600.00.. N Pt Cloudy
Ta. Island! 021 560.1010SW
Rain i
tValdez
-144. . .
.1...
Walla W.
Wash.. .
Winnipeg
Yakln.a
6610.011.
SW
Clear
Clear
Clear '
Clear
5810.00 ..
600.00 . .
6610.10 12
E
SB
NW
tA. M. today; $P. M. report of pre-
ceamg aay.
' FORECASTS:
Portland and vicinity Saturday fair
variable winds.
Oregon Saturday fair; gentle winds,
mostly, northerly. .
Washington Saturday fair east; prob- I
ably rain west portion; moderate winds. 1
mostU. southerly, 1
WE ST -
Prominent
Users
Series No. 16.
Lincoln National Life
Insurance Company
Chooses WEST-MADES
. "Its name indicates its character." With this slogan
the Lincoln National Life Insurance Company makes
its bow to Oregon. Established in 1906, this fast
growing company has taken 28th rank among the
approximately 250 old-line insurance companies of
the country. Mr. Yale, state manager for Oregon,
says "Lincoln National Life is considered one of the
most progressive life insurance companies in
America." .
In accord with this progressiveness, they have in
stalled complete West-Made equipment in their of
fices at 1112-13 Northwestern Bank Bldg. WEST
MADE Desks lead in office investment return.
WEST-MADE DESK CO.
Portland, Oregon.
Sold in Portland exclusively by
BUSHONG 6? CO.
91 PARK ST. " BDWY. 0104
WE
3The Fifty
DREIGN STOCKS SILL
EUROPE ALLOWS SUPPLY OF
WHEAT TO DWINDLE.
Buyers Abroad Anticipated Big
Crop in America, But Must
Nov Buy at Higher Price.
The weekly wheat review of Logan
& Bryan of Chicago received by wire by
Overbeck & Cooke company of Portland,
follows :
'Although the car situation has gen
erally been considered the predominant
taotor in bringing about the recent ad
vance in prices, developments of the past
lew weelts indicate tnat other condi
tions 1 ave been equally influential and
are still in. existence.
For one thing It Js very evident that
official Washington favors encouraging
the farmer with higher prices for, his
proauct and la doing everything possible
to bring it about. In consequence, thj
trade, taking cognizance of this situa
tion, has assumed a bullish attitude and
many, who a few weeks ago could see
nothing but the large Canadian produc
tion, are now looking forward to the
absorption of the North American sur
plus by importing Europe and are aware
of an exceptionally strong domestic sit
uation.
"Flour trade since July 1 has beeti
larger than for any corresponding period
in the- past six years and is still of the
same proportions. This can be attributed
to two things: First, small reserves in all
positions something that does not show
up in statistical compilations) and. sec
ond, the radical improvement in general
business conditions. Economics play an
important part in commodity markets
and a return to normalcy undoubtedly
spells increased consumption of bread.
"Foreign stocks of wheat and flour are
conceded to be very small, having been
allowed to dwindle in anticipation of
plentiful supplies from North America,
and now that Europe seems anxious to
replenish their stocks, exporters are not
disposed to enter Into contracts that
might be difficult of fulfillment beranse
of inability to secure the grain and bring
It to seaboard points of distribution.
"There is not likely to any weakness
in tne market until wheat begins to ac
cumulate at terminal points in the in
terior, ano prospects of such a condition
are at present remote,"
PRIZE PIGS TO BE SHOWN
Oregon Boys to Send Club Project
Winners to Spokane.
OREGON AGRICULTURAL COT,.
iGE, Corvallls, Oct. 20. (SDeciaL
Lester Barrows, Frederick Bar-
rowy and Homer Bray of Marlon
county are snipping: tneir club nroj
ect pigs to Spokane to exhibit at
the western royal livestock show
October 28 to November 2.
The Oregon Farmer silver loving
cup, first prize In division two. and
second prize In division three were
won by Lester Barrows in the club
classes at the state fair at Salem
and one championship, seven firsts
and two seconds In the open classes.
His total In cash prizes amounted
to $127. Frederick Barrows also
won prizes in both the open and
club classes. Homer Bray won $43
In prizes In club classes and $150 In
open clas"ses, making a total ot $183
at the Oregon state fair.
The three boys are shipping their
pigs to Spokane with Cass Nichols,
a Chester White Breeder of Marion
county.
COLONEL LEADER TALKS
British Veteran Bids Farewell to
' University Students.
UNIVERSITY OF OREGON. Eu
gene, Oct. 20. (Special.) Colonel
John Leader, veteran of the British
army and ex-commander of the uni
versity reserve officers' training
corps, made a farewell address to
the students here yesterday. Colonel
Leader, will, return soon with his
family to England. He spoke of his
love for Oregon and its university
and the hope that he would not be
separated from it for long.
Immediately preceding the assem
bly on the steps of the library the
first public initiation ceremony
which has occurred this term took
place when the newly elected mem
bers to Sigma Delta Chi, national
journalism fraternity, entertained
the entire student body.
Petition for Bonds Signed.
COTTAGE GROVE, Or.. Oct 20.
(Special.) Sixty names were ob-
DSSB SS West Kader....Nov. lstUS6B SS West O'Rowa Dec. let
YOKOHAMA, KOBE, HONGKONG, MANILA,
USSB SS Pawlet Nov. 15th USSB SS Hannawa....Dec. 15th
For rates, space, etc., apply to
TRAFFIC DEPARTMENT
Broadway 5380 509-522 Board of Trade Bids. Portland, Oregon
lI AE LSO
- Year Desk!
tained on the petition circulated last
week asking that the proposal to
issue bonds for $15,000 to financa
the c'ty's portion of a $60,000 armory
for company D be placed on the No
vember ballot. This wag more than,
the number required by law to au
thorize the council to put the meas
ure on the ballot. All of the names
were obtained in less than two
hours' time.
PAVING LINK FINISHED
Improvement Will Be Opened lot
Traffice November W.
ALBANY, Or.. 0:t. 20. (Special.)
The Pacific highway paving,
which has heretofore been broken.
at Jefferson, is now connected and.
will be ready for traffic on Novem
ber 16, says W. K. Wright, resident
engineer for the state highway de-
partment.
The approach to the bridge across
the Santiam has only eight feet of
pavement completed for a distancej
of 150 feet. Travel is using the op
posite side until the green pavement
is ready.
Another change in the Pacifia
highway also has been announced.
The open grade crossing ;of th
Southern Pacific track at Murder
creek. Just north of here, has beea
ordered closed by the county court,
as the new underground crossing U
now open to traffic.
Vale Bank Receives Charter.
THE OREGONIAN NEWS BUREAU,
Washington, D. C, Oct. 20. A char
ter has been issued by the controller
of the currency to the Vale National
bank, Vale, Or. H. R. Dunlop is pres
ident of the bank and Ralph A.
Holte is cashier.
Postmaster Tests Ordered. L
THE OREGONIAN NEWS BUREAU,
Washington, D. C, Oct. 20. Civil
service examinations will be .held
November 18, to select postmasters
for Amity, Gardiner, Kerry and Pilot
Rock, Or.
Phone your want ads to The Orei
gonian. All its readers are inter
e.Tted In the classified columns.
Sails from Municipal Dock No. 2
Wednesday, Oct. 25, 10 A. M.
Every Wednesday thereafter
FOR SAN FRANCISCO
LOS ANGELES SAN DLEGO
SS. Admiral Goodrich
Sunday, Oct. 23, 7 P. M.
MARSHFIELD EUREKA
SAX FRANCISCO
Ticket Office
101 THIRD ST., COR. STARK
Phone Broadway 6481
ASTORIA AND WAY POINTS
STB- IRALDA .
Mon., Wed., Fri., 8:30 A. M.
Nieht Boat Daily, Except
Saturday, 7:30 P. M,
Fare to Astoria $1.85 One Way
$3.00 Round Trip.
' Week -End Round Trip $2.50.
THE DALLES-HOOD RIVER
- Steamer Service
Daily. Except Sunday, 7:15 A. M.
Fare to The Dalles $1.26.
Hood River $1.00.
The Harkins Transportation Co.
Broadway 344. Alder-St. Dock.
AUSTRALIA
NIJW ZEALAND AND SOUTH SEAS
Via Tahiti and Rara tonga. Mail and
passenger service from ban Francisco
every 28 days.
facifio lour. Sooth Seas, New Zealand,
Australia. 565. Klrrt Claait.
' I.'11: OF NEW ZEALAND.
0cal .temhlp and r iiroad -hm-Ih.
North China Line
COLUMBIA PACIFIC SHIPPING COMPANY
Operating United States Government Ships.
DIRECT FREIGHT SERVICE WITHOUT
TRANSHIPMENT BETWEEN
PORTLAND, OREGON,
and
YOKOHAMA, KOBE, SHANGHAI, TAKIBAR
- (Tientsin) DA1RKN.