Morning Oregonian. (Portland, Or.) 1861-1937, November 21, 1922, Image 23

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Morning Oregonian., November 21, 1922, Page 23, Image 23

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Newspaper Page TextTHE MORNING OREGONIAX, TUESDAY, NOVEMBER 21. 1922 23 Eli EXCHANGE UTS BUOYANT ticks and Bonds Sluggish ut Hold Their Own. r 0MMODITIES ARE DULL ton and 'Wheat Move to Jjower ,'ibevels and Turnover Smallest in Weeks of Trading. (By Chicago Tribune Leased Wire.) NEW tOKK. Nov. 20. Uniformity of ind was jacking in totlay'a marlcet. illo there "was a buoyant upturn in foreign exchanges, and a moderate vance In the stocic market, the com- dity markets were suffering a price esHion, both wheat and cotton mov ; to lower levels. fhe action of the bond market was of outstanding character. Both as volume and price changes, it was a U affair, the- turnover being the smatl- of any day in several weeks. In the o of foreign exchange and stocks, well as the grains and cotton, price Itvements were largely a reflection of unrestricted speculation of some vs ago. The outstanding development was the 'j In the' foreign exchanges, in which or the major rates participated. rling, for instance, moved up to 4'JSi. and lMpt nnlv sjlirhtiv under J figure, with the net rise for the ' amounting to lc. The rate was the, - which has been quoted, for excharge h a high for the year of Tench francs made a further recovery nearly cent, to a high pries of -1, which compares with a low of 7 November b and exchange on me climbed to 4.77, or the highest ttation that has ruled since June 22. Ilielgian francs gained nearly cent fl.'JOVi and exchange on Amsterdam nt to a new high level for the year, en the rate on Berlin showed a slight vance even though there was a heavy rease in note circulation last week. To a large extent the upturn in all leading rates was a definite .product covering by speculators for the de e, who apparently, in the -pressure nich was exerted against the exchanges '.entiy, gave voice to their belief that was not well with Europe. Such pectatlons were wholly unwarranted d recent developments 4 brought about lecided change of front. o far as the stock market is . con- rned, the advance in prices was gen U, but not of large proportions, except a few isolated cases. It was just the oe of market which might have been pected to succeed the selling of last ek. While there was liquidation a -ek ago, there was as well a goody roentage of selling by speculators for le decline and after any sharp dip in ices there is the inevitable covering 'taich lifts quotations. . Tt was natural that the cotton market ould be unsettled in anticipation of e ginning figures which will be an 'unced tomorrow, since those figures 'ay have a very definite bfaring-on the tual size of the crop. Furthermore, Le market is endeavoring to readjust eif after the reaction that has taken ace and as yet, apparently, profit tak- g has not entirety run its course. ... - Rumors continue to fly thick and fast the financial district regarding the. ture of the producers' and refiners' rporation. It is known that severa' mpanies have been carrying on nego- Htions to take over the concern, but .ttether or not anything will become of ese overtures remains to be seen. Ac rding to an official of one company hich recently has taken an interest in te proposition, the owners of producers' iVd refiners' are quoting too high a price T control. ' The old report that General Motors of cials again were contemplating chang--g the common capita stock into shares $100 par value again were revived in te financial district, it being stated that le directors may take action in the very 'ear future. According to reports, the Itrcctors had this in mind when they ecl-ared a dividend of 50 cents a share Ul the common stock and announced sct despite the prosperity of the corn- Zany, the stock would not be placed lime. The National Transit company, a tandard Oil pipeline company, is ex acted to be the next company of this roup to declare a large extra cash di idend, following the action taken by Ipur of the other prominent pipeline com- ames last week. Reports to this effect t-ere circulated in the financial district oday and. the stock advanced 2 points in the strength of these reports. Trad- ig in the shares was more,active than r many months past. New York Bonds. Furnished by Overbeck & Cooke com- any ol i'ortland: Railroad bonds- Bid. Ktch Gen 4s liifir, 8Nli 1U1 C Line 4s 31tri2 X.i ' & O Gold 4s 1!)4S SI do Refg ,1s 1SID5 81 'an Pae Deb 4a "0 an Nor 7s JIM0 10 ' &-. O Cvt 4s ... 11130 XTi ' B & Q Refg 5s 1971 ihgo Gt West 4s .... lli.M) 50 ' M & St P Cvt 4 Vis. 19.12 K7 do Cvt 5s 2014 72 'HUP Ref 4s ... 1034 82 'el & Hud 5'is 1 rle Gen 4s 1 Nor oV,s 1 Hud & Han Ref 5s. . . 1 lock valley 4tgs ... . . 1 u cent Kef 4s 1 C C H S & M 4s 1 C So 3s 1 & N Unit 4s 1 f K & T 1st 4s 1 hlo Pac Gen 4s 3 K Y Cent Cvt 6s 1 T N H & H Cvt 6s. J fk & W Consol 4s. .. 1 'or Pac Ref 6s L S L 5s 1 re Washn Ref 4s 1 .enn R R Gen 5s 3 Ifearla & E Inc 4s 3 f'ere Marq 44s 3 ' ao tst os l ' C C 4 SI L Gen 3s. 3 leading Gen 4s 3 Uo Grande W 4s 3 1 I Ark La -Mis i i t L & S F AdJ Ba ... 3 ' do Tnc fi.q 1 Hi L & S W Con 4s .. 3 A L Consol 6s 1 0 Pac Ref 4s 3 H Ry 614s '. ISrex & Pac 3st 5s . . . n rac 1st 4s , .Vabash 1st os West Md 4s f'.Vest Pac 5s Vv & L 15 4s I" Street railways til R T 5s 'hgo City Ry 5s ... ' ngo ty 1st os ')et Un 4Vfcs R T 5s .Market St Ry 5s .... lont'l Tra 5s N" Y Rys 4s 1' Svce N J os . . . . t'hird Ave Ref 4s n Ry Jnv os 1 R T 7s laJll.t.tnl I .1 ikm Smelter 5s Vm Tel & Tel 5s tlarnsdall 8s ser A . . ieth Steel 6s ,, -'uba Cane 8s -'umb Tel os i et Edison 6s S-UMUllL FQnuesne Light Bs... Imp G & F 7Hs...'. isk Rubber 8s fclen Elec deb os . . . . iooayear Ms lumble Oil 5s .... ,velly-Spring 8s ..... venn Cop 7s nt'l Paper os )'Kcx Bteei os ff.iggett & M 7.1 .aclede Gas OS lero Marine 6s ..... lex Pet 8s. lidvale Steel Nat Tube 5s M Y Edison 6Hs V 1 ref 6s or States Pow 5s... - W Bell Tel 7s , )tis Steel 8s Fac Gas & B 5s Pac Tel 5s Phila Co 6s friharon Steel 8s Sinclair Oil 7s So Caiif 7s Union B & p 6s 3S58 200(1 1347 19S9 3952 3D46 1949 1945 1927 3927 1 932 1968 1924 3 941 1942 1959 . 3950 1926 3047 1946 1931 194S 1930 3 937 1940 3931 1H49 1937 1952 1931 1932 1931 1930 1947 1950 1944 1934 1941 1936 3936 3952 3941 1941 3941 3941 1941 3 942 1952 1944 1941 3937 1931 1942 100 46 100 b 82 S3 85 7S 69 90 81 62 'A 104 Yz 75 88 107 Vi 102Vi 80 ooyi 28 86 . 96 1)8 83 14 66 80 76 61 7614 63 S5& 80 10114 95 92 Si 97 . 64 77 77 85 74 891s 88 30 84 62 85 '88 92 i 96 8 54 87 92 10114 107 10214 93 li 104 loo 8714 714 10614 103 86 90 135 90 8814 108 8814 99 109 10414 91 10714 "814 91 li 91 9914 99 100 14 105 V4 0714 Asked. 89 S7 81 85 7914 111 87 99 51 6714 73 82 '4 101 47 101 S3 85 85 79 70 9014 82 63 105 78 89 108 102 81 100 29 89 97 100 84 7 81 77 2 64 86 81 101 99 93 98 65 84 70 57 . 78 ' 78 86 7415 90 90 34 85 63 86 1)0 92 96 '99 88 93 102 10714 'fli'" 104 101 98 98 107 104 87 1 89 106 88 101 10914 104 92 107 9914 . 91-4 9H4 99 9914 10014 106 98 IT S Rubber 5s 1947 V S Steel 5s 1063 Utah Idaho Sug 7s... 3930 Vn Oil Cat 6s 1942 Va Car Chem 7s 1947 ' W U Tel 614s 1936 Wibion & Co 1st 6.'. 1841 Foreign Bonds Russian 514s 1921 do 1926 do 614s ........... 3l!l . French Os 1931 - do 4s 1917 do 5s 1920 British 5s 1927 do i29 do Vict 4s do ref 4s Belgium Restor 5s ... do Premium German W L 0s 1 erlin 4s .... Hamburg 4s do414s .... Liepzig 414s .... do os Munich 5s .......... .... do Frankfort 4s Jap 4s do 1st 414s do 2d 414s Italian 5s 1918 United Kingdom 1929 do 3.937- Argentine 5s ........ 1909 Belgium 714 s 1945 Brazil 78 1952 Bordeaux 6s 1934 Brazil 8s 1941 Canada 5s 1952 Chile 8s 1941 do 1926 do 1946 Ciecho 8s 1951 Bolivia 8a 3947 Benmark 8s 1945 French 7s 3941 do 8s I '. . 1945 Norwav 8s 1940 Queensland 6s 3947 Rio Janeiro 8s 3946 do 3947 Seine Dept 7s' 1042 Swedish 6s .... 1939 Swiss 8s 1940 V K Gt B & I 514s. . 1937 8714 1021 94 . 10114 9514 109 99 10 31 53 44 61 94 94 79 77 li 64 57 13 38 15 15 3 5 20 10 20 18 7914 9214 92 li 39 110 10214 82 101 86 78 98 98 102 li 101 "4 10214 90 93 108 94 9814 10914 10014 IIS 96 85 H 103 116 10214 87 102 101 '. 95 HO 100 !: LIBERTY BONDS ADVANCE 12 5414 46 4 96 96 81 79 14 56 62 23 30 30 80 9S 92 40 HOH 102 84 lolli 89 7814 98 99 103 10114 103 91 94 108 '4 94 14 98 11C 101 97 97 S5 104 117 102 I FOREIGN SECURITIES SELL HIGHER. ALSO New York Curb Bonds. Furnished by Jordan, Wentworth Co. of Portland: A T & T 6s Anaconda C M 7s Anton Jurgens 6s Armour I'v notes Beth Steel equip 7s .... Brooklyn U G 7s .-. Can X R 7s Civ UTer 514 s Copper Ex H'c notes . . . Gd Trunk 6 14 s Laclede G L 7s Sears Roe 7s S W B T 7s 1925 S O of X Y deb 6I43 .... 3933 S O - ser note 3931 Swift & Co. 7s 1931 1924 1929 1947 1930 1935 1932 3935 1972 1925 1936 1929 1923 & 100 102 74 104 102 103 109 10214 3 0314 10414 101 101 102 10614 109 1U2 Mining Stocks at Boston. Furnished by' the Overbeck & company of Portland: Bid. Ariz Comm 7 Adventure 50 Ahmeek 56 Algomah 10 Allouez 20 Arcadian h 214 Bingham Mines 18 Cal & At Calumet & Hecla. New Corn ....... Centennial Davis Daly East Butte Franklin Mng . . . Hancock Helvetia Island Creek Keweenaw Kerr Lake La Salle Mohawk Slay-Old Colony . Mason Valley North Ba mpissing 69 1614 . . . . 9 .... 3 .... 7 . . . . 1 '4 . . . . 2 75 101 .... 114 3 1 5614 3 .... 2 9 514 North Lake . 20 Old Dom Cop usceola Mng . . Ojibway Quincy Mining Pond Creek . . . Isle Royal Supp Boston . . bai Shoe Mch do pm South Utah ... Superior Cop .. Trinity Cop . . . Tuolumne .... Utah Cons Utah Apex ... Victoria Winona Wolverine .... Wyandot 17 2714 1V4 3 8 19 1 41V4 2514 3 3 iii 35 5 1 Oil 7 Cooke Ask. 7 80 57 25 2014 2 3S14 53 70' 164 9V4 S14 S 114 2 90 102 3 314 1 5 6 '4 3 214 914 40 3 8 . 1 34 3 8 1914 1 T4 41 26 30 4 1 45 214 3 114 91 8 35 t'pTTON MARKET l .NUER PRESSCRE Futures Close .Sharply Lower in New York Market. (By Chicago Tribune Leased. Wire.) NEW YORK, Nov. 20. Pressure in creased in today's cotton market as Liverpcol turned weak. and losses of nearly c a pound resulted from a fair ly steady decline. Prices were fnrcpil 40 to 52 potnts lower in the mornina-. w hen most of the support came from profit taking professional shorts, who were the chief buyers on the break. The list rallied slightly before mid-day, but activity was repressed. After meeting added pressure fron a number of sources and reacting to a level of 50 to 72 points under Saturday, the market improved somewhat in the early after noon and toward the end of the fourth hour was off only about 30 points. Late in the day, however, the list pointed downward again .under renewed selling by local operators and. the withdrawing of buyiing for trade account. Final prices were around the. lowest. Spot was quiet, 85 points decline, 25.0a for middling upland. Southern markets: Galveston 25c, 55 points decline; New Orleans 25c, 25 points decline; Savannah 24.62c, 63 points decline; Memphis 23 50c 25 points decline; Houston 24.80c, 70 points decline; , Little Rock 25.25c 25 points decline. The range of cotton futures York, as furnished by Overbeck company of Portland: .Month January . . . March May. July October. . .' , December. . New Cook Open. High. Low. Close 25.20 25.29 24.85 24.89 25.20 25.25 24.85 24.90 25.05 25.08 24.74 24.77 24.70 24.78 24.46 24.46 23.25 23.32 23.05 23.05 25.35 25.40 24.88 24.95 QUOTATIONS ON DAIRY PRODUCTS Coast and Eastern Markets for Butter, Cheese and Eggs. SAN FRANCISCO, Nov. 20. (United States Bureau of Agricultural Econom ics.) Butter Extras, 49c; prime firsts, 48c; firsts, 4614 c Eggs Extras, 62c: extra pullets, 48c; undersized!, pullets, 4114c- Chetse California, flat fancy, 23c; firsts, nominal; California Young Amer ica, fancy, 27c. NEW YORK, Nov. 20. Butter Firm. Creamery, higher than extras. 51 51 14c; extras, 5014 c; firsts, 3914 49 14 c; pack ing stock, current sale, No, 2, 33c. Eggs Firm. Pacific coast white, ex tras, 75SOc; do. firsts to extra firsts, 65(a73c; refrigerator firsts, 2830c. Cheese Firm.. State whole miik flats, fresh specials, 2614 (ft 27c; do. average run, 26c; state whole-milk twins, specials, 261427c; do. average run, 25!4(p26c CHICAGO, Nov. 20. Butter, higher. Creamery extras, 50c; firsts, 3S 14 4214; -jiextrA nrsts, 46 ij 4!c ; seconds, 3614 i'17!4; standards, 47c. Eggs Unchanged. Receipts, 4156 cases; firsts, uOa.rt:; ordinary firsts, 40iJx4oc; miscellaneous, 4,50c; refrig erator extras, 28c; refrigerator firsts 25 14 26c. Poultry Alive, unsettled; fowls, 13 20c; springs, 18c; roosters, 12c; turkeys, 35c ; geese, 19c. j SEATTLE. Nov. 20. Butter City creamery, cubes, 4Sc; bricks and prints. 49c. Eggs Fresh ranch, 04c; pullets, 45c. 58c; mixed colors, Chicago Horse Market. (By Chicago Tribune Leased Wire.) CHICAGO, Nov. 20. Best heavy draft ers. $1 o'jtt-:dU; lair to good drafters. $150175; poor to fair drafters, $75150; good to choice wagon horses, $So125; plain wagon horses, ?50100: good to choice farm chunks, ?50125; poor . to good farm chunks, $2575; blemished chunks, $20 50. Cottonseed OH. Cottonseed oil futures at New York, furnsihed by Jordan, Wentworht & Co. : November, $9.409.50; December, $9.40 9.41; January, S9.51 9.53 ; February, $9.60.70; March, ?9.759.76; , April, J9.S59.88; June, 9.908.92. Spot, J9.40 9.75. Total sales, 31,800. Raijs, Industrials and Public Utility Issues Irregular in Xew York Market. NEW YORK, Nov. 20. Strength of most of the foreign securities in response to the substantial Improvement in" for eign exchange, marked Irregularity of domestic corporate mortgages and firm ness of United States government bonds stood out in today's relatively quiot deal ings in bonds on the New Yor stock exchange. Mexican 4s and 5s, each up 2 points, led the advance in the foreign list, otheT strong liens in which were Brazilian 7s, 714s and 8s, Mexican large 5s, Italian 6s, state of .Sao Paulo Sa, Zurich 8s and United Kingdom 514s of 1929, all up about a point. Bordeaux '8s dropped 1 points, but recovered most of their loss before the close, and Prague 714s and Paris-Lyons-Mediterranean 6s dropped 1 and 1 points, respectively. On the curb, Jugo-Slavian 8a slumped from 7214 to 68 on reports of a withdrawal of syndicate support. Erie & Jersey 8s provided the. sensa tion of the railroad list, jumping 5 points. ErieT?tor lien 4s and convert ible 4s, series B; Cleveland, Cincinnati, Chicago & St. Louis 6s, series A; Central of Georgia 6s, Atlantic Coast Line 7s and Northern Pacific 3s moved up 1 to 114 points. Atchison convertible 4s of 3960 and Seaboard Air Line refunding 5s each dropped 2 points and carried with them to lower ground Seaboard consolidated 6s, Chicago & Northwestern 6s of 1967, Baltimore & Ohio gold 4s and Chesa peake & Ohio convertible 5s. - The same irregularity was noted in the industrial an-1 public utility division. Peoples Gas 5s, Utah Power 5s, Montana Power 5s, Atlantic Fruit 7s, United Drug 8s and Wilson convertible 6s closing at advances of 3 to 2 points, while losses of that amount were registered by Brooklyn Rapid Transit gold os, Ameri can Teiephone 4s of 3936, Brooklyn Union Gas 7s and Interborough 414s stamped. United States government bonds showed gains of 2c to 8c on $100. Total sales (par value) were 111,906,000. The Western States Gas & Electric company has called for redemption on January 3. 3923, the entire- outstanding issue of ilie company's 10-year 6 per cent gold notes, due February 3, 3927. The largest offering today was an issue of J 1 ,5)pf000 Central Ulinois Joint Stock Land bknk 5 per cent bonds at prices yielding 4.60 per cent to optional matu rity and 5 per cent thereafter. CLOSING STOCK QUOTATIONS. Furnished by Overbeck & Cooke com pany of Portland: -. Stock Sales. Adams Express. . 300 Austin Nichols.. 1.400 AgrChem 300 Ajax Rubber ... . 500 Alaska Gold Alaska Juneau. Allied Chem . Allis-Chalmers clopfd Am Bt Sugar . Am Bosch Am Can Co do pfd Am Car & Fdy. . . do pfd . . Am Cot Oil do pfd ....... Am Drug Synd . . Am Hide & J eath do pfd ....... Am Ice Am Intl Corp . . . Am Linseed do pfd Am Loco ....... do pf d Am Saf Razor Am Ship & Com.. Am Smelter po pfd . : Am Snuff Am Steel Fdy . .. Am Sugar do pfd . . : Am Sumatra . . . Am Tel & Tel Am Tobacco . . .. Am Tob "B" . . .. Am Wool do pfd : Am W P pfd . . . Am Zinc Anaconda ...... Assd Oil Atchison do pfd Atl Coast Line . . Atl G & W I .... Baldwin Loco do pfd . . . B & O do pfd . . . Barns Corp do "B" . Beth Steel Booth Fish B R T Butte C&Z .. Butte & Sup . . Burns Bros "A" do "B" , Caddo Oil Cal Packing . . Cal Pet do pfd Cal Z & Lead . Can Pac Cen Leather . . Cerro de Pasco Chandler Motor C & N W Chgo Gt W do pfd Chili Cop Chino C 11 St p do pfd Coca Cola C & O Colo F & I Colo Southern Orpheom '. . Ont & VT . Otis Steel Pac Dev . . 20t 200 Pac Oil 500 Pan Am Pet ... 2,900 do B . .-.,400 Penna 1,500 Penna Sea Steel. 1,1 IK) Peo Gas 3,200 Pere Marq 1,700 Phila Co 600 Phillips Pete ... 1,800 Pierce Arrow ... 400 Pierce Oil 1,500 Pitts Coal . . 800 P & W Va. .- 1,000 Pr Steel Car ... 400 Pullman Pure Oil , Ray Cons Reading , Replogle Steel.. 3,200 1.100 High. 77 . 31 31 12 3.100 1.000 100.. 100 72 42 95 37 .12,500 72 100 110 . 00 180 i'ooiiii 400 1114 1,5100 2814 400- 31 900 500 3,200 1.700 2.100 5414 43 7014 Low. Bid. 75 77 28 31 31 14 31 12 ) 12 ....... Hi 73 14 72 41 41 95 94 37 37 334 7114 71 110 30914 179 180 ..... 122 19 19 . 39 5TI 11 H14 68 . 105 28 28 3114 , 31 - 50 4 12214 122 121 7 7 21 20 53 53 100 139 42 43 69 69 106 29 29 4 123 122 150 150 149 400 29 y. 1.300 123 1,000 151 -1,300 94 94 9414 108 28 1614 48 113 00 101 10014 100 92 113 113 24 24 124 124 600 48 4714 300 114 . 200 .15,400 -24 125 "A" "B" . 2,000 ni'.iob '. L200 . 700 600 30 66 'wii 7 31 45 '2914 3,600 136 300 500 1.100 8114' 49 30 135 44 'si" 48 7 117 45 59 30 39 66 6 13 7 30 136 41 7 8014 48 90 7 900 14214 141 141 400 300 5.900 . . 500 .. 5,300 .. 1,800 . . 900 . . 700 . .13,900 .. 1,600 35 39 61 31 27 24 20 40 77 69 14 38 9 10 26 23 25 39 7414 68 100 44 44 35 38 61 83 4 11. 27 24 25 414 77 68 26 44 Col Gas & Elec. 1,600 10514 104 104 Graph 200 ..26,100 122 .. -500 35 .' 2,40'li 'ii 102 ..13.300 133 4.200 1,700 100 500 8,300 200 7,000 1,700 8.000 400 8.800 Astoria Man After Fish Job. Columbia t on Gas Cons Cigars do pfd Cons Textile Contl Can . Corn Prod . do pfd . . . Cosden Oil C R I & P do A pfd ... do B Dfd ... Crucible ...... do pfd ...... Cuba Cane .... do pfd Cub Am Sugar. Davison Chem . Del & Hudson . Del & Lack . . . Dome Mines .. Ec Stor Bat . Endicott Johnsn 3,000 Erie 1,900 do 1st pfd 600 Famous .Players. 2,300 led Mng & Sm do pfd Fisk Tire Gen Cigars Gen Elec Gen Motor do ' Gen Asphalt ... Giidden Paint , . Goodrich T & R. Glen Alden Granby ... Great Nor Ore.. do pfd Greene Cananea. Gulf S Steel Houston Oil .... Hupp Motor .... Ills Cent Inspiration Int Agr Crp cm do pfd Interboro do pfd Int Hary Int Mrc Marine. do pfd Int Nickel Int Paper ...... Int Comb Eng.. Invincible Oil .. Island Oil ... . .. Jewel Tea K C Southern.. do pfd Kavser J Keliy-Spgfld ... Kennecott Keystone Tire . . Lack Steel Lee Tire Lehigh ValKy .. Lcrillard Loew Theaters.. L & N . Lima Loco Marland Oil .... Max Mot A do B May Stores Mex Pet Mex Seaboard . Miami . Mid States Oil.. Midrale Steel .. M K & T wi. , . 120 321 34 83 79 11 31 99 "100 131 131 20 20 ' 1914 21 21 21- .9 9 9 1. 114 1 83 S2 S3 46 45 46 , 86 83 85 84 83 84 47 46 47 3 3 3 94 92 14 92 31 30 30 40 39 39 42 41 44 10 10 10 5- 4 4 55 55 BT. 37 -36 !6 . SO 77 79 44 43 43 127 127 127 28 27 27 12 32 12 78 77 78 23 22 23 50 47 49 S2 82 82 1 54 53 53 113 112 111 do pfd ....... 100 Rep Motors Roy Dutch Oil.. 700 Ry Steel Spg ... 200 Saxon Mot 3.100 2 1 Sears Roebuck... 1,300 82 81 Shattuck & Ariz Shell T & T GOO 37 36 Sinclair 3,700 32 31 ioss oner Sou Pacific 700 91 90 Sou Ry ' 300 68 63 Stand Oil Cal.. 4.500 118 117 do ind -. 11 7 316 do N J 4,000 20O 196 do Ky 109 309 St L & S F ... 500 23 23 Strom Carb 300 125 124 Studebaker 22,500 125 124 Swift & Co Tenn Con & Ch Texas, Oil 2,400 47 Texas Pac 1,700 Tex pac c & o Tob . Products ,. 7,000 53 Iran contl Oil. 1,400 12 t-n nag & faper union Oil Del.. 21 500 20 100 65 1,1-00 16 46 21 20 50 1114 65 3 5 Union Pac 1.800 142 141 United Alloy ........ United Drug Uni Food Prod.. 200 5 5 umtea J?rult Uni Rds of N J. . United Rds Pfd. Uni Ret Stores.. U S C 1 Pipe.. 200 12 300 3,700 800 72 U S Ind Alcohol 5,300 62 3,200 50 100 96 32 26 70 60 49 96 do 1st pfd u s Smelting .... U S Steel 22,000 105 104 ao pia luo 121 121 Utah Copper .. 700 62 61 Va Chem do pfd . . . Vanad Steel vivaudou 500 Wabash 400 do A pfd 1,300 26 ao xy pia , Wells Fargo , t.. Western Pac do pfd - ..... Western Union . 400 11014 109 Westhse A B . .'. . . . . . do E & M 1,500 59 West Md 600 32 White Eagle Oil 200 30 wnue motors .. 800 48 wnue on 2 Willys-Overland 400 do nfd . . Wilsdn Packing . Wis Central ... 300 28 28 Woolworth 3,100 223 216 Worth Pump .. 800 29 27 W & L E 200 9 9 Total sales stocks, 619,800. Total sales bonds, $8,934,000. 600 26 2300 63 1,500 35 1 9 5 25 63 35 14 9 28 58 32 30 6 7 .36 32 40N 0 62 118 116 198 109 23 120 124 109 8 47 21 19 52 . 33 ' 65 36 142 5 152 12 26 IX 25 U 50 96 35 104 121 61 25 63 35 14. 9 26 38 no 16 57 110 96 58 32 30 48 5 5 39 S7 28 223 28 Ex-dlvldend. liberty Bond Quotations. Liberty bonds and victory note quota tions furnished by the Overbeck & Cooke company of Portland: Closing Open. High. Low. Bid. Liberty, 314s . . .100.12 100.22 100.10 100.14 Liberty, 1st 4s. . .. ..- 98.20 Liberty, 2d 4s ... 9792 Liberty, 1st 4 s 9S.58 98.64 98.52 98.5J Liberty, 2d 4s. 97.86 98.00 97.86 97.98 Liberty, 3d 4 lis 98.52 98 58 8.52 98.52 Liberty. 4th 4s 98.24 98.30 98.22 98.24 Vic'y, 4s call. 300.02 100.08 300.02 100.04 Vic'y, 4s 1023. 300.26 100.32 100.26 100.30 Money, Silver, Etc. NEW YORK, Nov. 20. Call money firmer; high, 5 per cent: low, 4 per cent; ruling rate, 4 per cent; closing bid, 5 per cent; offered at B per cent; last loan, 5 per cent; call loans against acceptances, 3 per cent. ' - Time loans firm; mixed collateral, 60 90 days, 5 per cent; 4-6 months, 5 per cent. Prime commercial paper, 4 per cent. Foreign bar silver, 64c. Mexican dollars, 49 c. LONDON Nov. 20. Bar silver, 32d per ounce. Money, 1 per cent. Dis count rates, short and three months' bills. 2 7-162 per cent. Foreign Exchange. Foreign exchange rates at the close of business yesterday, furnished by North western National bank of Portland. The amount quoted is the. equivalent of the Hideo unit in unitea Ktates tunds- Rate. t .000016 .06H300 .007100 .032500 .202000 4.533750 .026200 .074000 .000200 .015800 .89i500 .000550 .017800 .004 200 .184500 .055000 .007000 .017500 .153X00 .2(9000 .1871 00 .537500 .750900 .490000 Country Foreign unit Austria, kronen Belgium, franca Bulgaria, leva Czecho-Slovakia. kronen. ...... Denmark, kroner England, pound sterling Finland, finmark France, francs Germany, marks " Greece, drachmas. Holland, guilders Hungary, kronen Italy, lire Jugo-Slavia, kronen Norway, kroner Portugal, escudos , .- Roumanla, lei , Serbia, dlnara .,, Spain, pesetas , Sweden, kronor " Switzerland, francs China-Hongkong, local currency. Shanghai, taels Japan, yen 47 35 96 87 66 90 33 36 22 29 46 34 96 86 64 89 12 34 20 122 46 i 97 87 64 8(. 3 3 35 22 28 300 124 214 123 800 131 129 12914 800 4T" 40 40 06 65 56 HS 86 11 '11 37 92 17 91 3fJi) 3 2 200 78 600 177 8,300 15 9,'20'6 44 100 10 700 31 2,100 '30 1,200 86 8.000 '77" 900 68 600 22 "40() '34" " 506 "iii 500 103 300 32 3,800 51 600 14 1,101) 51 100 22 600 14 300 14 1.500 20 500 '19 87 11 17 92 7 .'2 11- 11 78 78 176 177 14 14 1,500 T.100 1.800 1,500 1,000 300 !M0 42 41 32 V. 6 78 25 63 100 162 900 19 300 1,400 100 400 36 30 44 13 40 10 30 29 SO 73 67 33 31 40 13 50 22 14 19 19 'iiii 41 32 6 77 25 63 162 18 '56" 30 81 40 10 80 56 23 30 88 23 75 67 22 108 ;-3 6 31 1 1(014 11 49 13 f0 22 14 39 3f. 63 li 40 43 32 6 77 25 63 162 18 130 56 30 Sd 13 13 1,300 164 162 16: 00 212 200 16 ASTORIA, Or., Nov. 20. (Special.) r 4 Umifilnn of this nitv ie to be an aspirant lor the position of. Mont Power", state master fish warden to succeed Mont Ward ... Carl D. Shoemaker. Petitions ask-Mo Pac ...... ins for his appointment by. the ! Nt $cui " Pierce administration are reported Nat Enamel . to be in circulation among the local! Nat Lad .... Shriners. ' Nevada Con .. m J New Haven . . . '.. . Norf & W ... - rrx. , . . . -Nor Am...... The Oregronian is the medium 'Nor Pac ..... through which many people supply N s Steel the'r wants by using its classified X lr Br---columns. Telephone Main 7070. Okia Prod ' ref 00 7,200 17,2011 1,400 900 - '706 400 1,000 3 00 200 31 SI 15 54 2211 17 46 63 212 16 25 11 2S 54 37 45 258 13 09 16 25 Jl 31 15 53 67 1 17 45 258 62 1,000 116 114 115 600 34 2,400 23 100 137 3,100 80 : 900 80 300 3,500 27 64 13 22 M6 86 79 '27" 93 13 23 116 S7 80 28 27 83 2 NEW YORK, Nov. 20. Foreign ex change strong. Great Britain, demand, 4.49; cables, 4.49; 60-day bills on banks, $4.47. France, demand, 741; cables, 7.42. Italy, demand, 4.76; cab.es, 4.77. Belgium, demand, 6.94: cables, 6.94. Germany, demand, ,01; eibles .01 9 -38. Holland, demand, 39.30; cables, 89.30. Norway, demand, 18.36. Sweden, demand, 26.80. Denmark, demand, 20.18 Switzerland, demand, 18.64. Spain, de mand, 15.32. Greece, demand, 1 40 Po land, demand, .00. Czecho-Slovakia, de mand, 3.18. Argentine, demand. Si! 75. Brazil, demand. 12.62. Montreal, 100 132. Standard Oil Stocks. Furnished by the Overbeck & company of Portland: . . . Bid. Anglo 19 Borne Scrysmer ........... .590 Buckeye ". 308 Cheesebrough ,...235 do pfd J.. .110 Continental ...a.. '..142 Crescent 42 Cumberland Eureka Galena com do old pfd do new pfd Illinois Pipe Indiana Pipe National Transit N Y Transit Chio Oil ..... International Pete ... Penn Mex Prairie Oil pe Prairie Ri Solar Kfflg Southern Pipe ... South Penn Oil . S W Penn Oil .... S O Indiana do Kansas , .y. . do Kentucky .., do New York .. do Ohio . . do pfd Swan & Finch Vacuum ......... Washington S O Nebraska . . . ; Imperial Oil .... ...150 . .. 99 ...59 . . .109 .. .106 ...170 ...106 .... 26 . . . 200 298 ' ... 21 ...20 . . . 680 ...303 ...885 ...152 ....174 ...61 ...116 ...670 ....10814 ...560 ...665 ....118 ...30 ...690 ...28 . . .190 ...113 Swift Co. Stoeks. ' Swift & Co. stocks at Chicago ported by the Overbeck & Cooki pany of -Portland: Swift & Ca , Libby, McNeil & Libby National Leather Swift International Cooke Ask. 39 610 110 230 113 146 45 155 101 61 112 110 174 109 27 205 302 22 25 685 306 390 164 178 68 110 680 109 565 F70 120 32 f.B5 28 195 114 as re- com- .108 .. 7 .. 8 .. 19 Liquidation In Coffee Market. NEW YORK, Nov. 20. .Reports of reactions following last week's sharp advances in Rio exchange rates led to scattering liquidation in the -market for coffee futures here today. The close was unchanged to 9 poiDts lower. Sales were estimated at. about 25.000 bags. Decem ber, 9.70c; January, 9.63c; March, 9.48c; May. 9.26c; July, 8.99c; September, 8.55c. Spot coffee quiet; Rio 7s, 1010c; Santos 4s, 1515c. 1 ' . " ' Naval Stores. SAVANNAH, Ga., Nov. 20. Turpentine Quiet, $1.52: sales,- none; receipts, 273; shipments, 277; stock, 12,349. Rosin Firm; receipts, 1140: shipments 533; sales, 1492; stock, ,100,099. Quote B, D, E, F, G, H, ,5.85; I, $5.37 ; K, $5.40; M, J5.60I N, J5.80; WG, $G.03; WW, $6.55. ' . Sugar Market. NEW YORK, Nov. 20. Raw sugar, cen trifugal, 5.65c; refined granulated, 6.90 (tf 7c SAN FRANCISCO. Nov. 20. California-Hawaiian raw sugar, 5.53c ' - Hops at New York. NEW YORK, Nov. 20. Hops quiet; states. 1922, 21 24c; Pacific coast, 1922, lg&ISc; 192., li 15c, AN OREGON INVESTMENT OF HIGH SECURITY AND GOOD RETURN We own and recommend for investment the unsold portion pf $150,000 Coast Power Company Tillamook, Or. TPi vcf Tlfr. -rf rro era A Ct, "Rrm rl a Dated July 1, 1922 6 6 Due juiy f 1942 " Interest Payable Jan. 1 and July 1 at Ladd & Tilton Bank, Portland, Oregon. DENOMINATION- $1000-$5000 FREE FROM ALL FEDERAL INCOME TAX UP TO 4 Xn Title and Trust Company, Portland, Oregon, Trustee BUSINESS: The Coast Power Company furnishes without competition all trie electricity for light and power in the cities of Tillamook, Bay City, Garibaldi, Rockaway, ' Brighton and Bar View, Oregon, and upon completion of present financing will extend its facilities to Wheeler and Nehalem, serving a population of about 8500. ' MANAGEMENT: Under the capable management of Mr. C. J. Edwards and his associates the Coast Power Company has shown an unusual growth since its incorporation in 1916 from slightly less than 2D0 customers to over 1500 at the present time. Relations with the public are very satisfactory. Both the preferred and common stock are owned entirely by individuals residing in the community served, showing their faitft in the management of the company. PURPOSE OF ISSUE: With the sale of this issue, $50,000 of the 6 bonds now out-standing have been retired, making this issue its sole funded debt. Simultaneously with the sale of this issue, the company proposes to sell $50,000 of its 7 cumulative preferred stock, proceeds frornf which can go only to plant enlargements or betterments, thereby increasing the value of property pledged by mortgage to secure these bonds. SECURITY OF BONDS: These bonds will be secured by a direct first mortgage on all fixed property of the company and constitute its only funded debt. Total property value when proposed additions and betterments are completed will exceed $250,000. EARNINGS: At the present time net earnings are over ZVi times total interest requirements. It is estimated that upon completion of proposed" additions net earnings will increase 20. Sufficient new business is now ready for service to more than justify the proposed additions. This issue offers an exceptional opportunity for a long-time investment in one of the most substantial public utility companies in the Northwest. Complete details upon request. , Telephone or telegraph orders collject. PRICE: 98 and interest TO NET: 6.15 per cent BOND DEPARTMENT OPEN 8:30 TO 5:00 SATURDAYS 8:30 TO 2:00 BANK OUtst in the Northwest VASklNC3TON at THIRD MEMBER JEDERAL RESERVE" SYSTEM- ICE CATTLE' STEADY ACTIVE OPEXIXG OF MARKET AT IiOCAL YARDS. Medium Grades Sell at Easier Prices; Hog and Sheep ' ' Quotations Hold. Thers was an active market at the stockyards yesterday with a big run of i:8 loads, of which four loads of hogs went through. The cattle market was steady on choice quality but the in-between grades sold 1!535 cents lower, but within the range of quotations. Hobs were about steady throughout the day at the $9.75 top. mough few sales were made at this figure. Sheep and lambs were steady at rul ing prices. Receipts were 2978 cattle, 177 calves, 2845 bogs and 1240 sheep. The day's sales were as follows: 8 hoga. . 1 hog.. . HI hogs. . 2:1 hogs. . 5-hogs. . 1 hog. .. 2r hogs. . 20 hogs. . 2:i bogs. . li hogs. . 27 hogs. . 1 hog. . . 7 hogs. . 116 180 1H.1 145 204 2SO 22S 178 157 147 175 490 17: 8.25116 hoirs..:-. 1S8 9.25 S.25 9 25 9.50 11 50 12.5') 2.50 tf 00 7.50 12t 11.50 170 3.50 04 8.50 25S 179 1S5 74 S:t S3 130 :i .1038 . :io . 87!) .1025 . 1407 .1172 .1157 . 828 . 943 . 1 1 tin .1011) . 102:1 .102:1 .1135 .1065 . 1050 . 808 . 7.'!0 7S 26 steers. 9 steers. a steers. 10 steers. 7 steers. 24 steers. !J5 steers. 14 steers. 9 steers. 3 steers. 21 steers. :! steers. 20 steers. 14 steers. 20 steers. 25 steers. 7 steers. 5 steers . 31 steers. 5 steers. 2 steers. . 895 IK steers. .1108 3 steers. .1296 26 steers. .101 Si 27 steers. .1135 26 steers. .1182 27 steers. .1067 2 steers. . 925 12 steers. .1070 2 steers. 26 steers. 12 steers. 4 steers. 27 cows. . 10 cows. . a cows. . 9 coks. . 10 cows. . 8 cows. . 3 cows. . 9 cows. . o cows. . 17 cows. . 4 cows. . 35 cows. . 15 cows. . cows. . . 10 cows. . . 10 cows. . , 10 cows. . . 4 cow s. . . 21 cows. . 14 cows, . 3 cows. . 9 cows. . 2 cows. . 2 cows. . 23 cows. . 6 cows. . 9 cows. . Wt. Price 1006 $6.35 o. 1 4.50 6.75 6.75 i.75 5.001 4.00 7.25 7.25 6.2, 990 .1135 .1092 . 9:i2 . 997 . .". . 002 .1207 .1046 . 8S3 . 92:t .1084 .100:1 .1013 .1075 .1119 .1090 . 900 . 774 871 921 . 935 .1023 .1059 .1004 .1022 .1235 . 055 .1095 . 900 927 it hogs. . . 2 hogs... 4 hogs. . . 3 hogs.. . 2 hogs... 3 hogs. . . 2 hogs. . . 1 hog. . . , 1 hog.. . 1 hog... 2 hogs. . . o hogs. . . 4 hogs.. . 0. 60:53 hogs.. . 7.10i38 hogs... 5.85140 hogs.. , 6.2S: 3 hogs. .. 4.35:51 hogs.., 5.00 1 hog 6.601 1 hog 5.5025 hogs... 6.25 2 hogs. . . 8.00 5 hogs... 6.501 7 bogs.. . 7:oO!l02 hogs.. 6.00! 7 hogs.. . 4.001 hogs... 7.0031 hogs. . . 5.50;25 hogs. . . 7.50 6 hogs. . . 5.50 4 hogs... 5.50 5 hogs.. . 4.00:11 hogs.. . .1.851 8 hogs 176 3.85110 hogs 124 4 5018 hogs 175 3.75 1 hog 150 4.251 1 hog 140 3.501)5 hogs 171 S.S5I 7 hogs l.V 4.j 0 hogs 1S7 4.501 1 hog 220 3.751 4 hogs.. 4.5O1I6 hogs.. 4.751 3 hogs.. 4.85 2 hogs.. 3.0OI42 hogs.. Wt. Prtce 17S $9.:S 210 155 100 225 233 185 420 600 480 360 273 375 1(15 152 171 74 1!J2 290 . 150 156 240 212 .18: 9.35 9 35 9.35 9.35 il.3.) 9.33 6.35 6.35 S.35 8.35 7.25 6.2o 9.25 S.25 9.25 8.65 9.40 7.50 8.50 9.50 8.00 9.50 9.50 . 1H7 1K50 175 9.60 238 136 144 25H 225 257 332 172 870 ..1057 . . 880 .. 908 .. 80S . . 810 . . 903 . . 870 . . 735 . . 895 . .1144 920 .1006 . 965 . 980, . SIX . 955 .1185 .1068 3 cows. . .1020 8 cows. . .1017 2 cows. . . 940 2 cows. . . 905 2 cows. . .1015 5 cows. . .1013 4 cows. 7 cows. 3 cows, 6 cows. 5 cows. 2 cows. 2 cows. 2 cows. 2 cows. 4 cows. 5 cows. 8 cows 1117. 20 cows. ..1154 24 cows. . .1200 2 cows. . .108. 3 cows. . 5 cows. . 2 cows. . 2 cows. . 8 cows. . 23 cows., 22 cows. . 17 cows. . 2 heifers. 992 2 heifers. Ssr, 10 heifers. 528 2 heifers. 895 9 heifers. 938 lcalf 150 2 calves... 105 1 calf 2 calves. . 51 calves. . lcalf 1 bull... -.1420 1 bull 1270 2 bulls. . .1305 1 bull 1410 1 bull 580 1 bull 12Si) lbull.. 1 bull.. 1 bull.. 1 lull. . lbull.. 1 bull. . 2 bulls. . .1480 1 bull 1290 2 bulls. 1480 12 bulls. ..1298 3 bulls. . .1023 25 mixed.. 727 7 mixed.. 898 3 mixed., 950 3 mixed.. 696 2 mixed.. 550 1 stag 960 1 stag 1100 12 hogs. . . 353 1 hog. . . . 190 5 hogs. .. 270 3 hogs. . loti 4.25! 4.251 4.25 8.00 2.25 256 215 220 135 204 14(1 263 177 192 207 175 157 85 177 192 410 171 220 1C5 217 340 201 226 215 0 80 B6 74 58 10-3 140 170 ISO 120 ..1310 . .1450 .. 850 ..1350 ..1B60 .1570 4.251 - hogs 4.251 - hogs 3.0031 hogs 4.751121 hogs.. . S.OOI12 hogs 4.5018 hogs. . . . 4.7515 hogs 4.504 hogs 3,50 4 hogs. . . . 4.75 7 hogs.. . . 4.501 1 hog.. . . . 4.50119 hogs.. . . 4.501 1 hog.. .. . 4tnoi33 hogs, . . . 4.25:21 hogs.... 1 nog 6 hogs.. . , 5 hogs. . . . 8 hogs..,. 1 lamb. . . !22 iambs. . 2.2531 lambs. . 2.25(229 lambs. 2.253l larr bs. . 2.25! 2 lambs. . 2 25! 6 lambs. . 2.2519 lambs. . 2.25!57 lambs. . 4.5010i'1 lambs. 4.OO1 2 ewes.... 4.35)13 ewes.... 5 0.1(251 ewes.. . 4.25(i'i"C ewes.. . 12" 4.251 ewes 1:15 4.25) 1 yearling. 140 4.251 3 buck. ... 100 4.75,26 steers,.. 1 2E S.,10( ' steers.. 4. 7526 steers. . 4 75:11 steers.. S.OOl 1 steer.. . 3.851 steers.. C.0OI 4 tteers.. 4.001 3 steers.. 4.00 3 cows.. . 0.25 2 cows... 8.50' 1 cow S.5OI20 cows. .. 7.501 1 cow.. . . 8.00 7.00 9(1 55 85 110 163 91 8T . 60S . 930 .1230. .1190 . 710 .1016 . 870 .1130 . 770 . 960 -102O 3 cows.. .. 953 '2 cows 1114 123 cows. : . .1065 I COW.. . . 7 COWS. . S 75129 COWS. . . 4.00:23 cows.. . 7.00 4.00 8.25 4.501 4.2, 4.00! 4.00 3.001 3.50 4.25 4.00i 4.25 3.75 .1330 941 864 970 . 920 .1010 9..0 4 cows. . . 121 cows. . . 1 cow. . . . 1 cow. . , . 4 cows .109' 1 cow 1O20 8 heifers.. 801 2 bulls.... 1390 1 boll 1560 9 bulls... .1570 3.75ii mixed... 300 3 751 4 mi.'.ed. 4 !7 8.00(104 hogs... 182 4.00 7 hogs 415 4.35 hogs... 3.00152 hogs... 3.001 6 hogs... 3.00' 2 hops,. . 3.25 0 hogs... 3.25llJ2 hogs.. 5-.759fi hogs... 5.75195 hogs... 8.75i62 hots... S.2H S Logs... 24 184 200 195 258 152 182 191 15 140 6.60 9.00 '8.40 8.90 8.40 7.40 6.40 9.40 9.40 8.75 9.40 8.00 8.25 9.25 8.25 9.25 8.2o 8 75 9.25 9.2 .8.25 9.25 8.75 8.50 9.25 9.40 9.15 9.6 9.00 9.00 9.05 9.65 6.85 9.65 9.25 8.50 9.35 7.50 9.50 9.50 9.40 8.00 12.25 10.00 11.85 9.00 10.50 11.00 12.00 8.75 11.50 6.00 5.00 4.75 6.00 5.00 8.50 K.OO 5.75 5.00 5.00 5.00 6.00 4.00 5. Oft 7.00 8.0 2.75 2.2.' 3.90 5.25 2.50 4.50 5.25 4,75 a. 75 3.60 3 23 2.00 3.73 2.00 5 50 5.00 3.50 4 60 3.7.1 4.25 4,2; 5.21 4,50 9.73 7 90 T.50 9 50 0,2 8.75 8.75 0.50 9.50 9,f.-i 9.00 8.2S 8.751 8 hogs. 9.25 ISO hogs 8.50144 hog-s. ... 8.25:80 lambs. . 8.70 143 lambs. 9.50111 ewes. . . , 9.501 1 twe 9.5026 y'rilng'J, 8.501 1 wether., 9.25112 bucks.. . 5,351.50 mixed.. . 9.35 Prices quoted at the Portland Union stockyards were as louow Cattle Choice steers -, Medium to good steers .. Common to fair steers ...... Choice heifers Choice cows and heifers Medium to good cows, heifera Common cows Canners Bulls Choice feeders ............. Fair to good feeders ........ Choice dairy calves Prime light calves Medium light calves Heavy calves Hogs Prime light Smooth heavy, 230 0300 lbs.. Smooth heavy, 30O lbs, up Rough heavy Fat pigs Feeder pigs t Stags, subject to, dockage. .. Sheep East-of-mountain lambs . . . . Choice valley lambs Medium valley lambs Commsn valley lambs Cull lambs Light yearlings Heavy yearlings , Light weahers Heavy wethers Ewes Price. .$ 7.00 7.50 4.(10 5.50 5.50(H) 6.25 4.50& 5.00 3.50 4.50 1.50 2.00 1.50W 2.00 3.00 4.50 S.OOiS) 5.50 4.00 5.00 7.50 S.00 7.50W 8.00 7.00 7.50 - 4.00 7.00 9.25 9.75 8.00(a) 9.00 7.50i8 8,00 6.00IS 7 50 8.25 8.75 8.25 8.65 4.00 6.00 11.00 Iff 12.50 11.0012.50 10.00 rjeil.00 9.00 10.00 6.750 9.00 8.00 9.50 8.50 9.00 7.50 8.50 7.00 7.50 , 2.004 6.00 she stock dull and wealr; bulls and veals generally' steady; Etockers and feeders slow; steady to 25c lower. Sheep Receipts, 16.000; lambs, 10c to 25c lower; bulk, $13.2513.65; top, $13.75: fed clipped lambs, $12 12.40: yearlings, steady: top, $12; sheep, strong; top, $7.60; feeders steady to strong; top feed ing lambs, $13.40; feeding ewes, $5.85. Chicago Livestock Market. CHICAGO, Nov. 20. (United States de partment of agriculture.) Hogs Re ceipts, 53,000, 1520c lower; bulk, 150 to 210 pound averages, $7.80 7.90; few at $7.95; good and choice 220 to 275-pound butchers, $7.58; top. $8; few held higher; packing sows, : $77.75; desir able pigs, $S8.35; heavy, $7.758; me dium, $7.808; light, $7.757.5; light light, $7.858; packing sows, smooth, $7.357.65; packing sows, rough, $7 J.40; killing pigs, $88.35. Cattle Receipts, 32.000; quality very plain; native beef steers selling at $9 up ward; best western . grassers opening about steady; lower grades slow; tending lower; bulk nativo beefsteers of quality and condition to sell at $S10; few well conditioned heavy western grassers early 8.258.35; better grade beef cows and heifera moderately active; canners and cutters fairly active; steady; bulls steady, lower , grade butcher she stock dull, weak; stockera and - feeders opening around 15c lower; veal calves weak to 25c lower; bulk desirable heavy native bulls $4.35(04.50; less desirable kinds around $44.25; good veal calves early to packers around $9. Sheep Receipts, 23,000; fat lambs steady to strong; early top, $14.75 to city butchers, $14.65 to shippers and packers; fed clipped lambs, $12.90, aver aging 82 pounds; light supply of rang ers, mostly feeders; no early sales; sheep, steady, one load 115-pound fed western ewes, $7.60. Kansas City Livestock Market. KANSAS CITY, Mo., Nov. 20. (United States department of agriculture.) Cat tleReceipts, 30,000; beef steers and yearlings slow, around steady; quality mostly plain; bulk warmed-up steers, $6.508; western grassers, $67.25;Tew cut-out yearlings from show loads $12.50; steers held about $13; she stock and bulls fairly active; lower grades in demand; few canners under 260; choice fat heif ers $8; vealera went to 25c lower; prac tical top, $9; deairable Colorado stockers, $7.40; New Mexico stock calves. $6.25. Hogs Receipts, 14,000; active; mostly to packers; 5c to 10c lower; spots off more, early; packers, top, $7,05; shippers took $7.85; light lightB mostly $7.75 7.80, bulk deairable 180 to 275-pound av erages, $7.807.00; mixed weights and quality, $7.60(87.80; packing sows. 10c to 15c lower; bulk, $7 7.75; stock pigs, lOo lower; mostly $7.8598.15. Sheep Receipts, 6000; killing classes slow; about steady; quality generally plain; native lambs, $14; 95-pound fed lambs, $13 90: some held higher; odd lots ewea. $77.40; 36-pound feeding lambs, $13.50. - Omaha Livestock Market. OMAHA, Nov. 20. (United States de partment of agriculture.) Hogs Re ceipts, 10,000, mostly 15c to 25c lower; bulk mixed and packing grades. $7.15 7.63; bulk 180 to 250-pound hogs, $7.70 7.90; top, $7.95. Cattle Receipts, 15,000, beef' steers slow, weak, to 25c lower; practically no choice corn-feds on cyle; besf here $9,75; P-'SF Give .? -1 by the R VOX Mth ffc San Francisco livestock Market. -SAN FRANCISCO. Nov. 20. (Federal state livestock market service.) Cattle Beef steera, good grade, $7,7358; medium grarle, $7 i7.50; common grade, ti( 0.75 ; beef cows, good gradf-, 5.75 fy 6; medium grade, J5.235.r0; common grade, $4(4.50; canners and cutters, $2 3.50; bologna bulla, $2.504; calves, 150 to 200 pounds, good and choice, J7-T58; 200 to 250 pounds, good and choice, $7.50 p 7.75; 250 to o00 pounds, good and choice, ?77.50; over 300 pounds, $5.50(a: 6.i'0. Hogs Oood and choice, grain fed, Cal Ifornias, 150 to 200 pounds, $10.7511.25; 200 to 250 pounds, lQ.2b10iQ; 250 to 300 popnds, $09.50; over 300 pounds. $S.50fi'8; smooth sova, 250 to 300 pounds, $7f'a'7.50; rough sows, 250 to 300 pounds, $ij!.50; over 300 pounds, $5-3)6. Sheep and lambs Full-wooied lambs, good and choice grades, $13.5014; me dium grade, $12,50 13.50; ewes, me dium and good, (5, 506.50; wethers, medium and good, $8.50& 10. Seattle Livestock Market. SEATTLE. Nov. 20. Hops Steady; re ceipt, 1779 ; prime $9.75 91 10; smooth heavies, $7.50fff8.50; rough heavies, $6.25 7; ptgs. $a.mfo)9. Cattle- Steady; receipts. 53S; prime steers, $77.40; medium to choice, $0.50 7 : common to good, $3. 75 6. 50 ; bes-t cows nd heifers, $4.50 iy' 5 ; medium to choice, ' $3. 754. 25; common to good, $3.75 4.25; canners, $1.503.50; light calves, $0.507; heavy calves, $4.50(gjo. Chicago Potato Market. CHICAGO. Nov. 20. Potatoes, slightly stronger; receipts, 70 cars; total United States shipments, 662 cars; Wisconsin sacked and bulk round whites, 90c$1.05 cwt. ; Minnesota sacked and bulk round whites, 85 95c cwt. ; Minnesota sacked Red River Chios, 95cl&$l cwt.; North Dakota sacked Red River Ohios, mostly $1 cwt.; North Dakota sacked early Ohios, 95c$l cwt.; Idaho Hacked Rus sets, No, 1, $1.55 cwt. Metal Market. NEW YORK, Nov. 20. Copper, steady. Electrolytic, spot and future-, 13 (9 14c. Tin, Bteady; spot and futures, 30.75c. Iron, steady; No. 1 Northern, -$30-S)31; No. 2 Northern, $2S30; No. 2 Southern, $2426. Lead steady. Spot. 77.25c. Zinc. firm. Eiist St. Louis, spot and nearby delivery, 7.20W7.30c. Antimony, spot, 6.50Si 6.75. Chicago OH Market. (By Chicago Tribune Leased Wire.) CHICAGO, Nov. 20. Gasolin Tank wagons, 18c; service stations, 20c; ma chine, 27.7c. Oils Summer, 11.4c; winter, 11.0c; Carbon perfection, iron barrels, 11 c; linseed oil, raw, 1 to 4 barrels delivery, $1; boiled, $1.04. Turpentine $1.84. Alcohol Denatured, 42c. Dried Fruit at New York. NEW YORK. Nov. 20. Evaporated apples, quiet; prime state, 10-& lGc. Prunes, firm; Californias. 817c; Oregons, 712c. Apricots, scarce; choice, 24ffi25c; extra Choice, 227c; fancy, 285:29c. Peaches, dull; choice, 12'r14Uc; ex tra choice, 14't?15Uc; fancy, 1618o. Raisins, steady; loose muscatel, 11(P 13c; choice to fancy seeded, 12 13 'sc; Fed?ppy, H-fr L'Sc. $250,000 Great Western ELECTRIC CHEMICAL CO. FIRST MORTGAGE 6 SERIAL GOLD BONDS Dated April 1, 1919 Due April 1, 1939 Denomination $1000 EARNINGS Over five times the interest requirements on the total amount of bonds outstand ing, including this issue. PRICK 92 la "n awroed lnt-ret, . to ylrld R approximately0, o J. G. T AVE RES Investment Stocks and Bond 213 Fittot-k Bldk. Bdny. 0SIH .Name Address The Plan That Gets You Out of Debt ASK about our monthly payment plan, which will refund the old mortgage and, in ten years, by easy payments, pull you out of debt. The interest you pay en such a plan is relatively small. Talk it over with up. sa Portland Trust Company qf Oregon SIXTH AND MORRISON s Northwestern NatowBaiiA 1 Camaguey Sugar Co. First mortgage sinking fund 77o Gold Bonds " Due 1942 Secured by a di rect first mort gage on all the mortgageable property of the company. Price to vield about Circular on request The National City Company Offices In more than BO cities , Yron Building. Portland Telephone 6072 Main Longevity A recent issue of The Manu facturer says: "The fatigue of a raw concrete surface, the wear and tea on tires, the final crystal lization of structure of both steel and concrete are facts of such c o m m on everyday observation that ordinary intelligence ought to demand the non-jarrinsr sur face in highway construction." Warrenite-Bitulithic is a type of oavement that has demonstrated the longevity of shock-absorbing pavements in almost every sec tion of the United States. fL :-' by the T v?0 Month