Morning Oregonian. (Portland, Or.) 1861-1937, December 02, 1922, Image 21

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Morning Oregonian., December 02, 1922, Page 21, Image 21

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Newspaper Page TextTHE MORNING OREGONIAN, SATURDAY, DECEMBER 2, 1922 21 1 PRICES CONTINUE . 01 UPWARD IEI Stock Market Again Recov ers Point or So. BONDS ALSO TAKE RISE Booth Fish 700 4 4 4 B R T 1,200 1S 16. 18 Butte C & Z 1,400 1 IVz 7tJ Butte & Sup 1,300 SO 28 294 Burns Bros A... 2,300 14514 142 145 do B 2,800 47 46 46 Caddo Oil 1,400 8 8 8'i Calif Packing... 500 79 794 79H Calif Pet ....... 4,900 584 5691 6754 do pfd. :..... 100 93 93 83 Callahan Z 4 L. 600 714 714 7 Canadian Pac. 1.600 140 140 140 Cen Leather 900 34 3414 3414 Cerro de Pasco. .80,100 43 395 42M Chandler Motor. 2.100 61 60'i 61 Chgo & N W... 1.600 84 8214 83 Chgo Gt W .... 400 5 5 5 do pfd 400 10 974 9 Ti Chili Cop 8,000 2814 27 27 Chino 2.000 2414 2314 24 C M St P 45,000 25H 2314 2514 do pfd 1,200 37 36 37 Coca Cola 7,300 78 77 78 C & O aflO 67 14 66 14 67 Colo F & 1 300 2514 25 25"4 Colo Southern 43 Both Home and Foreign Securi ties Advance Moderately; Liberties Are Included. k ins lis ran SEW BUYERS ATTRACTED BY CCRREXT PRICES. 24 Col Gas & Elec. 1,600 101 10014 101 Columbia urapn 500 2 con Gas . . Cons Cigars ao pld Cons Textile ... 3.800 1314 contl can 10.300 loe 3,400 12Gv4 125 126 800 35 3314 3514 80 12 12 10214 10514 Corn Prod 7,500 130 123 DAY'S' TRANSACTIONS STOCK MARKET. Day's total sales, 838,000 shares. Twenty industrials averaged 95.73. (A) Net gain, 1.08; high, 1922, 103.43; low, 78.S&. Twenty railroads averaged 86.51. (B) Net gain, 1.06; high, 1922, 93.99; low, 73.43. . (A) Ex-dividend, .325. (B) Ex-dividend, .312. (By Chicago Tribune Leased Wire.) NEW YORK, Dec. 1. No halt oc curred In the general upward trend of prices today. The stock market again scored recovery of a point or more in a long list of active shares. In the bond market, numerous advances occurred; both home and foreign securities moving up moderately and liberty bonds taking part definitely in the movement, for the first time in nearly three months. Foreign exchange rates rose rather em phatically, the franc recovering all the week's early decline, the Italian lire nearly reaching again the season's high price of November 14 and sterling get ting back to the high record rate since 1919, the $4.52 figure, reached mo mentarily last Tuesday. It closed at that rate today, which did not happen be fore. Even the wheat market rose for a time to 51.2014 per bushel, or fairly close to the recent top price of $1.21. Taken altogether, today's movement of prices indicated, what had been fairly evident to the majority of clear-headed observers, that all of these markets had been "oversold" by professional specu lators in the recent violent declines. In all of them the characteristic of the sea son's bear campaign has been the extent to which underlying influences making for a strong position were ignored and the speculation based on foolish exagger ations. No doubt the same description might have been applied in reversed form to the ."bull movement in some of the markets" during the summer and early autumn. But the speculators on that occasion have already taken their punishment. On the stock exchange there was oc casional reactions during the day, but it did not seem to hold. In the end the active railway shares showed even more substantial recovery than the industrials. The French bonds played a respectable part In the day'a advance of that part of the market, and fractional advances of larger scope were made in other for eign securities, notably the Dutch bonds. No great attention was paid to the firmness of - the stock exchange call money market, which was the usual "first of the month" demonstration. The fed eral reserve statement shewed a some what unexpected increase in rediscounted bills, which rose $36,000,000 for the week, thus nearly canceling the reduction of the week befdre. At the New York reserve bank, however, rediscounts de creased not Quite $24,000,000; showing apparently that the week's expansion had occurred in the interior districts. "With the announcement todav bv the Northern Pacific of a company union consisting of gome 5000 of its shopmen, the situation among the western roads has beeu practically cleared of trouble ome results of the shopmen's strike. According to a tentative schedule of the wages, the employes will receive more under their company union plan than they did previously with their national organization. In local railroad operat ing circles, it is believed the remaining roads which, have not yet completed plans for the organization of company unions, will probably fall in line with the idea. The opening of renewal rate of 5 per cent for call money and its later ad vance of 5 Per cent had no more ef fect on the bond, market than it did on the Btock market. - Prices for "fixed securities" moved upward in sympathy with tho better tone in the stock market and some good gains were recorded. The rise, however, was not confined to the industrial or railroad group, as the foreign bonds also made some headway. virtually every Industry in the country, except the railroad and the tobacco industries, have taken part in the recent numerous stock dividend an nouncements this year. Stock dividends on the part of the railroads Appear re mote, but several carriers have declared extra cash dividends, and while Dela ware, Lackawanna & Western made such a distribution last year, it "has again been whispered that another pay ment might be expected. In the tobacco industry, however, sonre extra disburse ments aro expected from those com panies wnose Lharea axe selling above $150 a share. More than the usual amount tf in terest was paid to the copper group today and gains of one to three points w.ire scored in some of the more promi nent Issues, including Anaconda, Cerro tie Pasco, Utah Copper, Kennecott and American Smelting. The rise in these stocks was helped along by rumors of pending mergers among some of the low cost producers, while details . of capl tallaatior were increased from $5,000,000 . .i n,. iiivia ui. aeciarea a casn dividend of 50 cents, or 2 per cent, pay- u,d ov.cujut-i jo io slock oi recora ue ctmber 5, making SO per cent for the year compared with 20 per cent paid heretofore. The stockholders on Decem ber 15 will vote on increasing the capi tal stock, which now is $12,000,000. The Grinnell Manufacturing company de clared an extra dividend of 2 nor ertf The Laclede Steel company declared a 2 per cent dividend, payable December 30 to Btock of record December 15. This xa tne rirst payment since March, 1921. CLOSING STOCK QUOTATIONS. Furnished by the Overbeck & Cooke company oi Portland: Sales. High. Low. Bid. .Adams Express.. 900 68 6014 6' AavantB num.. Austis Nichols.. 1,800 31 Agr tnera do pfd Ajax Rubber .. Alaska Gold... Alaska Juneau.. Allied Chem 3,300 73 Aliis-Chalmers .. 400 43 do pfd . Am Beet Sugar. Am Bosch 1.000 88 3514 Am Can Co 9,900 72 70",i do Pfd 100 111 111 Am Car & Fdy.. 1.500 1S211 179 1S2H Am Cot Oil 1,100 1S-4 1S14 18 do pfd 400 39 38 38 Am Drug Synd... 200 6 6 6 Am Hide & Lth 200 It 14 11 11 do pfd 400 05 6414 65 Am lee 800 10414 303 104 1 Am Intl Corp... 700 29 28 2Si Am Linseed .... 700 29 do pfd .. 50 Am Loco 2,600 121 129 120 do pfd 200 120 120 120 Am S;if Razor... 600 7 7 6 Am Ship & Com. 1.300 20 18 20 Am Smelter .... 2,900 63 51 62 ao piu . . . . ..... Am Snuff Am Steel Fdy... 900 44 Am Sugar 2,000 75 Am Sumatra ... 100 2si Am Tel & Tel... l.SOO 123 1221 123 Am Tobacco ... 2.4O0 154 152 154 Am Tobbaco B. 300 152 151 151 Am Wool 2.000 94 93 !4 94 do pfd 108 Am W p pfd 2T Am Zinc 600 15 35 15 Anaconda ",300 49 47 48 Assd Oil 1)4 Atchison 3.S00 101 101 101 -do rfd fiOO 90 90 90 Atlantic Cat Lne 3'0 112 111 112 Atl G & W I 1.4O0 25 24 24 Baldwin Loco. . .20,500 118 115 117 do pfd 107 Balto & Ohio... 5,800 43 42 43 do pfd BSU Barnsdall.jCp A. 300 30 30 29 do B ..." 400 20 20 20 Beth teeIB... 600 63 li 6014 6S'- do pfd 100 120 Cosden Oil T.200 47 C R I & P 7,800 33 do A pfd. do "B" pfd .. 200 Crucible 10,800 do pfd 100 Cuba Cane 500 do pfd ...'.... 1.400 Cuban Amn Sug. 1,300 Davison Chem. . . 500 Del & Hudson.. 300 1 Del & Lack Dome Mines .... Elec Stor Bat... 10.200 58 Endicott Johns'h 8.600 9 0 Erie 12.100 10 do 1st pfd 3,000 15 Famous Players. 700 91 Fed Min &. Smelt 100 7 do pfd 100 50 Fisk Tire 400 12 Gen Cigars 200 80 Gen Elec 2.200 183 20 47 33 87 63 90 14 39 24 8 0 1,400 133 700 40 Gen Motor 13,400 13 83 45 9 32 14 31 8O0 31 30 31 200 62 62 61 600 71J0 5,000 1UO 4,000 700 400 24 30 83 24 76 69 do 6 per cent. 200 Gen Asphalt ... 7,000 Glidden Paint .. 100 Goodrich T & R. 1,400 Glen Alden Granby Gt Nor Ore. do pfd . . . Greene Cananea. Gulf S Steel Houston Oil Hupr Motor Ills Cent 4.000 108 Inspiration 16,700 35 Int Agr Cor com 100 7 do pfd l.uoo 33 Interboro 1,000 do pfd ., 700 Int Harv 5.000 104 Int Merc Marine do pfd 5.000 Int Nickel 2,500 Int Paper 2,700 Int Comb Eng.. 400 Invincible oil .. 400 Island Oil 3,100 Jewel Tea 4,600 K C Southern .. 1.800 do pfd 300 Kayser J - 200 Kelly-Spgfld ... 8,400 Kennecott 13,400 87 63 90 14 38 23 27 118 130 40 57 83 9 14 91 7 50 11 80 180 13 83 43 8 30 '24' 30 82 24 73 67 22 108 33 7 31 - 60 15 61 24 14 20 19 54 41 43 Keystone Tire Lack Steel Lee Tire Lehigh Valley . . Lorillard Loew Theaters.. Lima Loco ..... Marland Oil Maxwell Mot A. do B May Stores 1,800 500 500 2,100 7 77 26 04 70O 171 500 18 500 55 3,400 30 ,"600 "13 700 164 Mex Pet 1,500 227 Mex Seaboard .. 2,200 17 Miami 600 27 Mid States Oil.. 9,100 12 Mldvale Steel .. 8,800 29 M K & T wi 600 16 Mack Truck .... 900 54 Mont Power... 200 68 Mont Ward 2,000 21 Mo Pac 1,600 1 8 do pfd 3,000 44 M St P & 8 S M. 300 65 Nat Biscuit Nat Enamel ... 300 64 63 49 14 50 23 14 19 18 64 41 41 34 6 76 25 62 165 18 55 30 "is 163 17 27 11 28 15 54 ..8 21 18 4S14 62 130 120 47 33 96 87 64 90 14 38 24 120 133 40 57 90 10 15 91 7 51 n 8014 181 13 82 44 30 54 24 30 83 24 75 68 22 107 35 714 33 100 11 49 14 61 23 14 20 ' 9 64 41 42 84 7 76 25 64 171 18 55 30 41 13 163 225 17 27 12 29 15 54 68 21 17 44 65 240 64 Nat Lead 60O 115 114 114 Nevada Con New Haven . . . Norf & W Nor American.. Nor Pac N S Steel N Y Air Br.... N Y Cent Okla Prod ref. . Orpheum Ont & W Otis Steel .... Pac Dev Pac G & Elec. Pac Oil Pan Amn Pet . do B Penna Penna Sea Steel. Peo Gas Pere Marti Phila Co PhilIipsPete ... Pierce Arrow ... Pierce Oil 1,300 14 1,700 22 z.iiuo lid 4 2,200 92 2,800 78 14 14 21 22 112 113 90 77 37,200 300 1,000 400 1,200 700 1,800 6,400 2.8.700 13500 2.700 600 400 4,300 S00 3.700 2.500 1.000 97 9314 Pitts Coal 1,100 20 2114 7 1 86 46 64 90 46 3 93 33 40 48 4 57 35 77 48 120 28 13 77 20 20 7 1 85 45 90 87 46 3 93 82 40 ' 43 11 4 91 77 26 25 97 2 20 21 7 1 S5 46 94 90 46 3 93 32 40 43 12 4 50 34 77 47 Domestic Speculative Issues and South American Loans Are . Strongest Features. NEW YORK. Dec. L The bond mar ket moved up through practically the entire list today with marked strength exhibited by South American issues and the domestic sneculative bonds. The speculative railroad issues, which havel been under pressure for several weeks made the best improvement, reflecting the strength of railroad stocks. The gen eral upward movement today apparently marked the .end pf the heavy liquidation of large holdings that has been going on for some time. Other factors in the upward turn of the market were the covering by short interests that have been pressing the speculative issues and the appearance of new buyers attracted by the low prices of a wide list of bonds. Rio Grande de Sul 8s, with 2 points, and Sao Paulo 8s, with 1-point ad vances, were the outstanding features In the foreign list. Framerican 7s and Bordeaux & Marseilles 63 advanced 1 points each and Czecho-Slovakla 8s, Rio Janeiro Ss and Dutch Indies 6s gained a point each. . In the speculative railroad mortgages St. Paul general 4s gained 3 points, St. Paul general 4s and Chicago & Northwestern general 4s, two points each, and Erie consolidated 4s 2 points. Cerro de Pasco 8s advanced 4 points and Chile copper 7s 2 points in sympathy with the rise in stock prices. Other strong spots in the industrial and pub lic utility list were General Electric 5s, Computing Tabulating & Recording 6s, Manhattan Elevated 4s and Brooklyn Rapid Transit certificate 7s, all up 1 to 2 points. The best buying power in the railroad mortgage group was shown in St. Paul convertible 5s, Baltimore & Ohio gold 4s, Chicago & Northwestern 5s of 1987, Den ver & Rio Grande 5s, and Kansas City Southern 5s, with advances of 14 to nearly 2 points. - Liberty issues were stronger with gains ranging from 4 to 30 cents on $100. Mew York Bonds. NEW YORK, Dec. 1. (By the Asso ciated Press.) Following are today's high, low and closing prices of bonds on the New York Stock exchange, and the total sales of each. bond. Sales in $1000: U. 8. Bonds High. Low. Close. 491 100.38 100.14 100.38 35 98.40 98.30 98.36 172 98.06 97.90 98.0: 342 98.54 98.40 98.46 360 98.40 98.14 98.30 81 100.30 100.24 100.24 do 4s called. 66 100.00 100.00 100.00 U S Tr 4s. 171 99.58 99.42 99:52 . Foreign . . Argentine 7s 43 100 100 100 City of Bordeau 6s 14 78 77 78 City of Copen 5s 17 108 108 108 City of Greater Prague 7s 14 City of Lyons 6s.. 40 City Marseilles 6s. 5 Liberty 3s .... do 1st 4B.... do 2d 4s do 3d 4s. ... do 4th 4 lis .. Vict'y. 4e unci 90 73 77 is 98 89 72 77 77 90 72 77 77 35 114 114 114 25 88 87' 88 10 107 85 85 5 107 14 86 63 83 54 82 35 1 102 98 93 92 97 92 84 93 80 98 94 03 98 93 84 93 80 100 95 98 97 4.200 32 31 Pitts & W Va :. 500 35 34 Pr steel Car.... 100 77 77 Punta Alegre .. 2,700 48 47 Pullman 1,700 120 125 Pure Oil l.SOO 28 27 Kay cons 1,400 lA'b i;-;4 Reading 6.600 77 76 Kepiogie St'-el . 20 'rt14 Kep I & S 1.800 45 44 do pfd Roy Dutch Oil.. 1,500 53 52 liy Jstel spg Saxon Motors .. 600 2 1 Sears Roebuck . 3,300 S3 SO Shat & Ariz 400 8 714- Shell T & T Sinclair ... Sloss Shef , Sou Pacific .... 7,900 Sou Ry 3,000 do pfd 600 Stand Oil Cal .. 4,500 115 114 115 do Ind 118 116. 118 do N J 3,500 196 193 195 do Ky 123 119 121 St L & S F 2,200 24 23 Stromberg Carb 4,700 58 56 Studebaker 25,400 120 118 Swift & Co Tenn Cop & Ch 1.000 Texas Oil 2,100 Texas Pac 5,200 do C & O 4,800 Tob Products .. 4,500 Tran Contl Oil . 4,200 P Union Union Oil Del Union Pac United Alloy ... United Food Pro United Fruit . . United R of N J do pAd United Retail St 4,100 U S C I Pipe . . . 700 U S Ind Alcohol 4,000 U S Rub 6,300 do 1st rub pfd 200 U S Smelting .. 200 U S Steel ... do pfd Utah Copper ... Va Chem do pfd Vanadium Steel. Vivaudou Wabash , do A pfd .... do B pfd Wells Fargo ... Western. Pac . . . do pfd Western Union . Westlngh'se A B do E & M ... West lid White Eagle OH 89 24 63 8T4 47 23 20 54 12 88 23 63 8 46 20 19 63 11 28 l.". 77 24 45 S4 52 111 1 S2 8 35 32 39 89 24 63 4.200 15 15 23 56 120 107 8 . 46 22 20 54 12 68 15 4,800 140 139 140 30O 34 300 5 200 153 71 24 34 5 152 12 76 23 61 49 96 37 34 5 153 12 26 71 23 61 61 95 37 61 26 62 52 96 38 .16.800 102 101 102 1.000 121 120 121 2.300 63 Vi 20 62 35 14 9 25 17 -90 36 59 94 93 98 93 85 93 80 10 100 100 5 95 95 31 98 98 187 97 97 6 110 109 109 39 104 103 104 37 73 72 72 23 93 92 93 22 103 102 103 . 1 103 103 103 14 101 100 101 4 100 100 100 3 116 116 116 158 110 110 110 46 102 102 102 14 93 93 03 42 86 85 88 11 35 25 85 29 102 102 102 33.. 92. 92 92 101 102 115 115 97 Pub Service 5s , . Read gen 4s . Rem Arms sf 6s.. Rep I & S col 5s R Is, A & L 4s SLIM&S4SRG iiSFpHsi do adj 6s .... do- inc 6s St L South con 4s 2 86 34 84 6 9 1-93 10 79 83 71 76 61 77 78 75 59 86 83 85 93 79 83 70 75 61 77 78 74 58 21 39 102 14 1 11 28 11 98 95 91 86 "85 SP4K C S L 4s 10 S A & A P 1st 4s 16 Sea Air L con 6a 19 do adj os 17 do ref 4s 31 40 Sharon S H 8a A 2 102 Sine C O col 7... 28 100 100 oinc cr Km 0s South Bell Tel 5s Sou Pae cv 4s ... do ref 4s do col tr 4s South R gen s 10 101 do con 5s 65 86 do ren 4s 31 66 s tr a sugar 7s 112 99 St Oil of C deb 7s Third Ave ref 4s do adi 5a Tidewater Oil 6s looacco rrofl ,s. T St L & W 4s U B & P 6 A ctfs union Pac 1st 4s. do cv 4s ....... 22 95 00 ret 4s Union Tk Car 7s. United Drug 8s. . . Unit Fuel Gas 6s. U S Realty 5s.... U S Rubber 7s..- do 5s UJJ Steel s f 5s... Utah Pow & Lt 5s 8 Va-Ca C 7s w w 6 do 7s ctfs 9 Virginian Ry 5s..' 42 Wabash 1st 5s ... 1 W Maryland 1st 4s 30 West Pacific 5s... 22 West Union 6s.. 1 110 West Electric 7s.. 6 107 w lis ic Co a I 7s do cv 63 Wis Cen gen 4s. .. 86 ( 83. 96 93 79 83 763 61 77 78 74 59 21 40 102 100 98 95 91 86 85 98 95 91 83 85 100 101 96 96 66 66 98 99 15 105 106 105 0 61 61 61 59 56 55 56 1 102 102 102 5 103 103 103 2 72 72 72 4 98 97T4 98 39 91 91 91 94. Vi'A 23 85 84 85 6 103 103 103 20 112 111 112 1 97 97 97 1 99 99 99 2 108 -108 108 28 87 87 87 82 102 102 102 91 95 97 96 63 92 91 95 96 96 63 92 91 95 97 96 63 110 110 106 106 11 104 103 104 22 94 93 93 1 Sir's, so 80 Total sales of bonds were $12,263,000 compared with $10,398,000 Wednesday and $22,139,000 a year ago. , New York Curb Stocks. Furnished by Jordan. Wentworth & Co. of Portland: Industrial Acme Coal Mining ..i.... 65- Acme Packing . 35 Buddys-Buds, Inc 1 Car Lighting & Power 1 Colombian Kmerald Syn 50 Continental Motors 30 Durant Motors Inc 63 Glen Alden Coal 51 Mercer Motors 2 Peerless Truck & Motor 64 l-hillp Morris 20 Radio Corp of America 3 do pfd , 2 ocnuite itetan stores , 08 CATTLE IIET DIES i - DEMAND IS LACKING AT LO CAL STOCKYARDS. Lower Range of Prices in Jfear Future Indicated; Iiambs Of! Half Dollar. Of the 18 loads of stock received at the yards yesterday, 11 loads were of lambs which came in as a direct ship ment to packers. The cattle market is in a bad way. A few sales were made yesterday at low prices, but the demand has practically ceased. There was stock in the yards carried over from Wednesday and in addition to this six more cars came in yesterday. Signs point to a general lowering of cattle values here. The hog market was steady and un changed at $9 9.50 for prime lights. Lambs were 50 cents lower and- sheep were unchanged. Receipts were 142 cattle, 1 calf, 132 hogs and 228 sheep. Xne days sales were as follows Wt. Price 2 cows... J40 $1,501 18 cows... TI27 4 hogs.. . . 157 50 hogs.... 182 25 hogs.... 172 14 hogs.... 115 12 hogs.... 121 4 hogs.... 150 lhog 210 1 lamb. . . 60 21 lambs. 78 lambs. 1 ewe 30 ewes. . OTvearl 101 2.25 1 buck.... 260 9.25 1 steer 1200 9.50 1 steer.. . . 920 9.50 8 heifers.. 842 9.00 1 bull 750 9.00j 1 bull 1010 B.uu n lamDS.. . o.o00 lambs.. . 00 8.001 3 lambs... 56 92 11.00 5yearl'gs. 88 68 11.00 lcow 590 250 4.50 lcow 1030 122 6.00 2 cows 825 Wt. Price 9.50 3.50 5.50 6.00 4.85 S.iO 3.50 68 11.30 9.00 9.00 9.50 1.75 2.50 1.50 Prices auoted at the Portland Union stockyards were as follows: Cattle Price. Choice steers ..S 6.75 7.25 Medium to good steers 6.00 6.75 fair to medium steers.., Common to fair steers.. Choice heifers .'. Choice cows and heifers Medium to good cows, he Common cows Canners Bulls Choice feeders 5.25 6.00 3.75 5.23 4.50 5.00 4.000 4.50 3.50'ti) 4.00 1.50 2.00 1.50 2.00 3.00 4.50 5.000 5.50 Fair to good feeders 4.005 5.00 30 6 6 2 60 2 19 8 3 9,3 4 18 .187 29 102 21 115 8 97 31 9 1 83 90 89 82 86 97 91 83 75 90 89 82 86 34 14 9 24 37 90 35 62 26 61 34 14 25 37 90 16 58 110 110 HO VI 59 ' 60 13 12 32 32 3,100 13 12 12 ti.. .1 42 42 40 35 71 111 99 142 43 43 73 28 200 200 1,800 300 1,100 2,700 100 300 400 500 400 lit 900 97 200 60 100 13 400 32 White Motors 48 White Oil 300 4 4 4 Willys - Overland 700 6 5 5 do pfd 800 40 40 40 Wilson Packing. 800 38 36 37 Wisconsin Cen 28 Woolworth .... 200 214 212 214 Worthlngton P . 300 28 27S 28 W & LB U Total sales of stocks 876.100 shares. COTTON' FUTURE TRADING DULL New York Market Closes 18 to 30 Faints Net Lower. (By Chicago Tribune Leased Wire.) NEW YORK. Dec. 1. Cotton futures closed 18 to 30 points net lower. Trad ing was dull and speculative interest was at a minimum. After opening narrowly irregular, 14 points up to 3 points net lower, there was scattered pressure from Wall street longs, southern interests and ring interests which moved prices 8 to 12 points under Wednesday's finals- before midday. In the afternoon a little addi tional liquidation developed, causing prices to ease off further. There was no power on the Buying side, and the mar ket was an easily influenced proposition, especially by professional give-and-take. The ciose was not far from the day's lowest. Spot cotton was quiet, 15 points de cline, 25.30c for middling upland. Southern markets were: Galveston, 25.05c, 20 points decline; New Orleans, 25.25c, unchanged; Savannah, 24.80c, 20 points decline; Augusta. 24.80c, 20 points decline; Memphis, 25.25c, unchanged: Houston, 25c,. 20 points decline; Little Rock, 25.2oc 25 points decline. The range of cotton futures at New York, as furnished by Overbeck & Cooke cpmpany of Portland City R de Jan 8s 14 City of Toklo 5s.. " 8 City of Zurich 8s. Czch Rep 8s ctfs. Danish Mun 8s A. Dept of Seine 7s.. Dom of Can 6 notes, 1929 .... 15 101 100 100 u or can os, '22. 08 us 14 DUt la ind 6S, '47 do 1961. French Rep Ss . . do 7s Hol-Am Line 6s. . Jap 1st 4s . do 4s K of Bel 7s do 6s King of Den 6s.. K of Nether 6s.. K of Nor 8s K of Sweden 6s.: P-L-Medit 6s . . . Rep of Bolivia 8s R of Chile 8s. 48 Rep of Uruguay 8s S of Queens 6s.. S of S Paulo sf 8s Swiss Con 8s ... U K of G B &. I 5s, 1929 .. do 1937 U S of Bra 7s do C Ry El 7s U S of Mex 4s.. Am Ag Chem 7s Am smelting os, Am sugar os. . . . . Am T & T cv 6s.. do. co: tr 5s do 4s Am W W & El 5s Anton J M W 6s. . 4 Armour & Co 4s. 10 At T & S F gen 4s 29 do adj 4s 3 Atl C L 1st con 43 2 Bait & Ohio 6s... 37 do cv 4s 45 Bell Tel of Pa 7s.. 9 Beth Steel ref 5s.. 1 do p m 5s 14 Bklyn Ed gen 7s D 1 Bk Rop Tr 7s ctts 21 Can Northern 7s.. Can Pao deb 4s. . . Cent of Georgia 6s Cent Leather 0s.". 23 98 !l8: Cent Pao gtd 4s.. 31 86 85 Cerro de Pasco 8s. 296 127 123 Ches & Ohio cv 5s. 119 93 92 do 4s 10. 88 88 Chi & Alton 3s. 1 26 26 do "s 33- 53 52 C B & Q ref 5s A. 29 100 99 Chi & E 111 5s 21 80 80 Chi Gt W 4s - 9' 51 60 C M & S P cvt 5sB 28 71 69 do 4s 27 67 6 do ref 4s 30 62 61 Chi & N 7s 1 10S 10S Chi Rys 5s :. 26 70 75 O R I & P gen 4s. 38 82 81 . do ref 4s 40 83 82 Chi & W Ind 4s.. 38 "74 74 Chile Cop 7s 461 113 112 do 6s 66 96 95 Colo & So ref 4s 10 87 80 Col G & El 5s 4 96 9fi Con Coal of Md os 11 8S Cuba C Sug teb 8S 11 89 O R R 7s A Cuban Am Sug 8s. Del & Hud cv 5s. D & Rio G ref 5s. do con 4s Det Ed ref 6s Det Unit Rys 4s. Distill Sec os Don St ref 7s DuP de Nem 7s Duq Light 6s .... E G & F 7s ctfs Erie pr lien 4s. . . . do gen lien 4s Fram I D 7s. . Gen Elec deb 5s... Goodrich 6s 10 101 Goodyear T 8s, '31 8 98 do 8s. 1941 Gd Tr R of Can 7s do Os Gt North 7s A..,. do os B H & Man ref 5s A do adj inc os. . . H Oil & Ref 5a 111 Central 5 lis... do ref 4s ...... Ill Steel deb 4s. Indiana Steel 53. . I-M 4s ctfs stpd Inter Rap Tr 7s. . do ret os do ref 5s ctfs. . . I & G N adj 6s wl In Mer Mar s f 6s. Inter Pap ref 5s B Iowa Cent ref 4s. . K C Ft S & M Is. K C Sou 5s Kel-Spg Tire 8s . . Lack Steel 5s, 1950 L & N ref 5s ... do unified 4s .. . Manati Sugar 7s. Mar St Ry con os. Marland Oil 7s. . Mich Cent deb 4s. Mid Steel cv 5s... Minn & St L ref 5s M S P & SS M 6s M K & T new r l.ten 03 A 26 83 do new adj 5s A. 2o9 60 Mo Pacific con 6s. 2S 98 do gen 4s 55 63 Mont Pow 5s A... 7 97 Nas Elec Ry 4s . .. 1 59 N E T & T 1st 5s ctf 9 98 N O T & M inc os. 7 77 N Y Cent deb 6s.. 146 105 103 105 do rfg & imp 5a 100 96 96 86 90 83 75 89 89 82 86 100 100 100 80 8014 80 108 108 108 92 92 92 92 92 92 107 107 107 90 89 89 1 111 111 111 :9 79 79 79 1 100 100 100 98 88 126 03 8S 28 53 99 80 51 71 67 61 108 75 82 8.1 74 113 96 87 96 88 46 721a 102 85 50 91 Month. January . . March ... i'.ay ...... July October . . December Open. . 25.35 . 25.33 . 25.20 . 24 95 . 23.27 . 25.40 High. 25.35 25.34 25 22 24.95 23.30 25.40 Low. 25.04 23.07 24.96 24.64 23.15 25.01 Close, 25.06 25.10 24.9 24.64 23.00 25.08 Phone your want ads to The Ore' gonian. All its readers are inter ested in the classified columns. 88 8S 1 103 30314 103 3 lOl 107 10( 34 96 95 7 47 46 4 73 72 16 xo: 41 85 85 5 50 50 6 91 89 9 307 3 07 107 19 103 103 lO.'tli 37 93 92 83 20 57 55 57 51 44 43 43 36 88 87 88 3 101 101 101 iuu 1U1 9S 98 7 115 114 114 14 111 111 111 32 103 102 103 32 110 109 109 19 101 100 100 8" S3 82 82 81 59 58 59 27 97 97 97 13 101 100 101 36 86 85 86 29 91 91 91 12 100 100 100 11 11 11 11 90 30 36 55 23 4 7 15 7 3 5 95 74 74 49 90 86 36 95 74 73 48 89 86 35 78 88 95 74 74 49 90 86 36 79 S9 106 yv Southern Coal & Iron united Profit Sharing, new United Retail Stores, candy Wayne Coal West End Chemical Oils Alied Oil ...... Anglo-American Arkansas Nat Gas Com ... Boone Oil Boston-Wyoming Oil Carib Syndicate Cities Service Bankers .... do com A Creole Syndicate I1,: i.usnmg fetroieum . a Engineers Petrol Co 16 Federal Oil 84 Gilliland Oil, com 3 Gienrock Oil 1 Hudson Oil 13 International Petroleum .. 21 Keystone Ranger Devel 32 Livingston Oil Corp 5 Lyons Petroleum 65 Mammoth Oil 41 Maracaibo Oil Explor 15 Merritt 7 Mexico Oil Corp 80 Mountain Producers 16 Mutual Oil 11 Noble Oil and Gas 22 Omar Oil and Gas .1 Producers and Refiners 7 Red Rank- Oil 14 Sapulpa Refining 3 S.mms Petroleum 11 South Petrol and Refining : . . 10 Southwest Oil 1 Standard Oil of Ind 117 Texon Oil and Land 34 Victoria 5 "Y" Oil and Gas 8 Mining Alaska Brit-Col Metals , 2 Belcher Extension 4 1' Big Ledge Copper Co 5 Canada Copper Co 1 Candalaria Silver 33 Cash Boy Consolidated 10 Consolidated Copper 3 Cork Province Mines 15 Cresson Con Gold M & M 2 Dean Consolidated Corp 65 Divide Extension 10 Ely Consolidated 3 Emma Silver 2 Eureka Croesus 28 Fortuna Cons Mining 14 Goldfield Deep 9 Goldfield Development 3 Goldfield Florence 10 Gold Zone Divide -8 Harmill Divide . Hecla 8 Henrietta Silver 46 Independent Lead Mining 27 Jerome Verde Devel -. 1 Knox Divide - 2 Lone Star Consol o MacNamara Cresc Min ............ 4 MacNamara Mining 7 Marsh- Mining 8 McKinley-Darrah-Sav 17 Mexican Eagle 10 National Tin Corp 22 . Nevada Ophir 10 Nipissing Mines 0 Ohio Copper ... 41 Rav Hercules. Inc 1 Red Hills Florence 2 Rex Consolidated Mining 5 5-andstorm Kendall 2 Silver Mines of Amer 18 Spearhead - d Success Mining 48 Teck Hughes 93 Tonopah Divide " o, Tonopah Extension 3 3-16 United Eastern Mining 13-16 West Domes cons 0 West End Consolidated. 1 17 $ 54 Mining Stocks in Boston. Furnished by the Overbeck & company of Portland: Bid. Arizona Comiu 7 Adventure 0 Ahmeek ....". 5i Algomah 15 Ailouez 24 Arcadian Bingham Mines , California. Arizona.., Pftlumpt & Hecla 285 New Corn 13. Centennial 8 Copper Range 36 Davis Daly v. 2 East Butte 8 Franklin Mining 1 Island Creek 108 Kerr Lake 3 Lake Copper 3 La Salle 1 Mohawk 66 Mason Valley 1 North Butte ..10 Nipissing 5 North Lake 20 Old Dominion Copper 16 Osceola Mining 27 Ojibway 1 Quincy Mining 21 Isle Royal '. 1 South Lake 39 Supp Boston 1 Union Shoe Mch 41 do pfd 2b 8.000 9.00 7.50 8.00 6.00 7.50 Choice dairy calves 8.01f 8.50 Prime light calves ..... 8.00 8.0O Medium light calves 7.50(3 8.00 Heavy calves 4.00 7.00 nogs Prime light 9.00 9.50 smooth heavy, 250 to 300 lbs. Smooth heavy, 300 lbs. up.. Rough heavy Fat pigs 8.50 9.00 Feeder pigs 8.25 8.75 Stags, subject to dockage... 4.00 6.00 aneeii East-of-mountain lambs Choice valley lambs 'Medium valley lambs ., common valley lambs .. Cull lambs , Light yearlings Heavy yearlings Light wethers , Heavy wethers 89 106 106 90 90 20 103 103 103 so u 90 1M1 5 97 96 97 11 90 90 90 4 13 102 102 2 91 91 91 1.7 89 88 89 1 35 35 35 6 103 103 103 S3 59 98 , 62 96 69 87. 1 83 60 98 62 96 69 97 do con 4s N Y Ed ref 6s.. N Y. N H & H cv 6s, 1948 ... N Y Tel ref 6s, 41 do gen 4s ... N Y west & Bos 4s Nor and Sou 5s A N Am Edi sf 6s.. N Pas ref 63 B.. do rfg & im 5s C do pr lien 4s . . Nor St P ref os A North B Tel 7s. . Ore Sh Line gtd ,5s do ref 4s O-W R R & N 4s Pac G ft E ia ... P T & T 5s, 52 ctfs Pack Mot Car Ss. Penna R R 6s.. do gen 5s .... do gen 4s.... P & East Inc 4s.. P Marqu ref 5a.. Phiia C c tr 6s. . Port Ry Lt P 5s P & it be with war 83 20 110 82 109 109 15 72 71 5 104 104 3 93 93 72 104 93 43 62 83 10S 97 85 91 71 43 42 6 62 62 18 93 93 37 lUSfe 108 12 97 97 66 85 85 2 91 91 !i 7 107 107 107 5 102 102 102 20 91 91 91 37 81 81 81 9 91 91 91 2 91 91 91 1 107 107 107 40 109 109 109 24 100 100 100 15 92 91 91 7 28 27 28 4 95 95 95 6 89 99 99 5 84 84 84 t 117 U7 U7Vj Smith Utah 3 Superior Copper 3 Shattuck 7 Trinity Copper 1 Tuolumne 35 Utah Metals 90 Utah Con 1 Utah Apex 2 Ventura 26 Virtiria. ................... 75 Wolverine 7 Wyandot 83 Standard Oil Stocks. Furnished by the Overbeck & company of Portland: Bid. Anglo 19 Borne Scrysmer 575 Buckeye 83 Cheesebrough 215 do pfd 112 Continental 146 Crescent .' 42 Cumberland 140 Eureka 96 Galena com 50 do old pfd 108 do new pfd 104 ' Illinois pipe ................161 : Indiana Pipe 87 Natl Transit 24 N Y Transit 205 Northern Pipe 21 Penn Mex 18 Prairie Oil 650 Prairie Pipe 304 Solar Ref g 355 Southern Pipe 99 South Penn Oil 160 S W Penn Oil Cooke Asked. 7 80 58 40 ' 40 2 18 55 287 18 -9 38 3 8 1 108 8 3 1 57 1 10 5 40 18 29 2 23 21 40 1 41 27 10 4 . 9 1 37 91 2 3 27 100 8 97 Ask. 19 600 K5 225 115 149 43 150 99 r.7 111 107 167 90 25 210 21 660 . 307 375 102 165 68 118 660 121 47 280 120 32 650 28 190 115 Swift Co. Stocks. Swift Co. stocks of Chicago as re ported by the Overbeck & Cooke com pany of Portland: Swift & Co ...109 Libby, McNeil Libby 7 National Leather 7 Swift International 19 do Ind do Kansas do kentucky ... doN.Y do Ohio do pfd Swan & Finch Vacuum Washington ..... S O Nebraska Imperial Oil ex div 118 650 120 46 270. 118 28 ...640 24 1S5 114 The Oregonian is the medium through -which many people supply their wants by using its classified columns. Telephone Main 7070. 10.5012.00 10. 50 12.00 -9.50gtl0.50 8.50 9.50 6.75 8.50 9.5010.00 9.00 9.50 7.50(a) 8.50 7.00Si 7.50 Ewes , 2.00 6.00 Chicago livestock Market. , CHICAGO, Dec. L (United States De partment of. Agriculture.) Hogs Re ceipts, 46,000; early market 10 15c high er, later slow; bulk, 170 to 260-pound averages, $8.358.45; godd and choice butchers, $3.50; butcher top, $8.50; few 140 to 160-pound averages, $8.55; bulk packing sows, $7.50S; desirable pigs, mostly $8.508.60; heavy hogs, $8.25 8.50; medium, $8.358.50; light, $8.35 8.55; light light, $8.408.55; packing sows, smooth, $7.608.10; packing sows, rough, $I.357.75; killing pigs, $8.45 8.60. " Cattle Receipts, 11,000; beef steers and she stock about steady; run in cludes numerous lots of show cattle; early top yearlings fed with show stock, $13.50; some held higher; bulk short fed steer3, early, $8.5010.50; bulls steady to strong; veal calves strong to 25c higher; stockers and feeders about steady; bulk desirable veal calves to packers early, around $99.25; bulk stockers and feeders, $6 7; bulk desir able heavy bologna bulls, $4.254.40. Sheep Receipts, 14,000; opening active, fat lambs firm to 15c higher, spots up more; early top, $15.50 to city butchers, $15.25 to packers: fresh clipped 75-pound fed lambs, $13.40; good 90-pound fed yearling wethers, $13; feeders quiet, sheep fully steady. j Kansas. City Livestock Market. KANSAS CITY, Mo., Dee. 1. (Uulted States Department of Agriculture.) Cat tle Receipts, 6000; beef steers steady to strong; top, $10.50; other plain to good lots, $7.2510; plain westerns, $66.50; all other classes steady with quality plain; most canners, $2.502.65; common to medium cows, $3.754.50; plainer grass heifers, $4 5.50. Hogs Receipts, 14,000, slow; light ! weights mostly $8.108.20, or steady to1 strong trader top, $8.40; shipper top, $8.25; 165 to 220 pounders to shippers, $8.15; looks 1015c lower; packers hold ing back, bidding 1025c lower, or $8.10 ('8.15 on choice butchers; mostly held at $8.208.25; bulk of sales, $88.20; packing sows steady to 10c lower; bulk, $7.407.50; stock pigs, 1525c lower; mostly $7.507.75. . . 1 Sheep Receipts, 5000; killing classes generally 25c higher; ted wooled Iambs, $14.25; clippers, $12.90; 102-pound year lings, $11.75; wethers, $8; odd lots fat ewes, $6.256.50. Omaha Livestock Market. OMAHA, Dec. 1. (United States De partment ,of Agriculture.) Hogs Re ceipts, 10,000; mostly 10c higher; bulk mixed and packing grades, $7.508: bulk butchers, $S.108.20; top, $8.23. Cajttle Receipts, 5700; beef steers and she stock fully steady; top corn fed yearlings, $11; bulls and veals un changed; stockers and feeders steady to strong. - Sheen Receipts, 300v, active; killing classes mostly 25c higher; top fed lambs, $14.25; clipped lambs, $13.25; yearlings, $12; 110-pound ewes, $7; no feeders here. San Francisco's Livestock Market. SAN FRANCISCO, Dec. 1. Federal- State Livestock Market News Service. Cattle Beef steers, good grade, $7.758; medium grade, $77.50; common grade, $66.75; beef cows, good grade, $5.75 6; medium grade, $5.255.50; common grade, $45; canners and cutters, $2 3.50; bologna bulls, $34.50; calves, 150 to 200 pounds, good and choice, $7.7o 8; 200 to 250 pounds good and choice, $7.507.75; 250 -to 300 pounds good and choice, $fv.ou; over auu pounds, $o.ou 6 6 50. rlogs Good ana cnoice grain iea uan- fornias. 150 to 200 pounds, $10.5010.75: 200 to 250 pounds, $1010.50; 250 to 300 pounds, $89.50; over 300 pounds, $8 8.50; smooth sows, 250 to 300 pounds, $77.50; rough sows, 250 to 300 pounds, $66.50; over 300 pounds, $o6. Sheep ana lamDS run wooiea lamos, good and choice grades, $13.50 14; me dium grade, $12.5013.50; eyes, medium and good, $5.506.50; wethers, medium and good, $8.5010- Seattle Livestock Market. SEATTLE, Dec. 1. Cattle and hogs steadyno, receipts. DESIRABLE WOOLS HOLD FIRM Supplies Are Short, Bnt Mills Not Willing to Fay More. BOSTON. Dee. 1. The Commercial Bulletin will say: The market is slow but prices keep firm for all desirable wool. Manufacturers are watching the situation rather closely In view of the approaching heavy weight season. On the one hand, they find short supplies and on tne other resistance on tne part of the clothiers to higher cloth prices. Meantime they are well occupied on old contracts. . The Commercial Bulletin will publish wool . quotations tomorrow as follows Scoured basis. Oregon: Eastern No. 1 staple, $1.30 1.33; fine and fine me dium combing. $1.201.25; eastern cloth ing, $1.15 1.25; valley No. 1, $1.15L17J Naval Stores. SAVANNAH, Ga Dec. 1. Turpentinfe, nothing doing; last sale November. 27 at $1.53; receipts, 400; shipments, 28; stock, 12.152. A Rosin, steady; sales, 966; shfAnenta, 890; stock, 109.510. Quote: B. D, E. F. $5.055.15: G. H, $5.075.17; I. $5.30 5.17: K, $5.175.25: M, $3.40; N, $J.505.57; WG, $3.80: WW. $6.50. Coffee Futures Lower. NEW YORK, Dec. 1. The market for coffee futures closed 6 to 10 points net lower. Sales were estimated at about 15,000 bags. December. 8.85c; January, 9.72c; March, 8.45c; May, 9.12c; July, 8.84c; September, 8.35c. Spot coffee, quiet; Rios 7s, 11c; Santos 4s, 1515c. Chicago Oil Market. (By Chicago Tribune Leased Wire.) CHICAGO, Dec. 1. Gasoline Tank wagons, 18c; service stations, 20c; ma chine, 27.7c; oils, summer, 11.4c; winter, 11.9c; Carbon Perfection, iron barrels, 11 c. Linseed oil, raw, 1 to 4 barrels delivery, $1; boiled, $1.02. Turpentine, $1.92. denatured alcohol 4c What this sign means property owners to litis property is under the management STRONG iMacMIGHION EstateJIanagcjrs, Portland Othti This sign is an index of profitable management HTHIS sign is an index of profitable management. It is an indication that the owner of. the property or building which displays it is awake to the advantages and the profits of specialized control of property by a trained organization. This service includes the devel oping, financing and manage ment of properties and estates and the care and investment of their revenues. It relieves you of all the cares and details in volved in jownership. Our years of experience are at your disposal. If you are con cerned about your holdings, make an appointment to discuss your problems with us. Our telephone number is Main 0815. Strong & MacNaughton CORBETT BUILDING PORTLAND, OREGON Investment and Property Man' agers for Estates and Individuals STOCK DHIS BEADY STANDARD Oil; GROUP TO CUT NEW MELONS. Prairie Pipe Line Company Pro poses to Pay 200 Per Cent if Stockholders Agree. BY O. A. MATHER. . (By-Chicago Tribune Leased "Wire.)' CHICAGO. Dec. 1. Another flood of stock dividends and increased cash, dis bursements, further evidences of the good volume of holiday trade and a strong tone in the securities markets today pro longed the cheer of Thanksgiving. The Standard Oil group again contributed largely to the "melon" crop. The Prairie Pipe Line company pro posed to declare a stock dividend of 200 per cent, payable to stock ot record .De cember 27, If the stockholders on Decem ber 20 vote to Increase the capital stock from $27,000,000 to $81,000,000. The Prairie Oil & Gas company also intends to declare a 200 per cent stock dividend if the stockholders on December 12 ap prove increasing the capital stock from $20,000,000 to $00,000,000. Stockholders or the Delaware, jacKa- wanna & western uoai company win meet December 18 to vote on declaring a 40 per cent stock dividend. , The present capitalization is $20,000,000. Stockhold ers of the American Laundry Machinery company will vote on increasing the capi tal from a,(KK,ouu to $4,uuu,uuu. au the new capital will be common stock, of which $3,000,000 will be distributed as 50 per cent stock dividend, it also is proposed to reduce the par value -from S100 to $25. Stockholders of the Wor cester Salt company on December 15 will vote on increasing the capital irom $1,000,000 to $2,000,000 and declaring a 100 per cent dividend- Stockholders or tne American book. company will vote on .December ii on increasing the capital stock from $5,000, 000 to $8,000,000. Stockholders of the Baldwin Cotton Mills will vote Decem ber 27 on increasing the common, stock from $400,000 to $800,000 and declaring a 100 per cent stock dividend. The Victor Talking Machine company declared a dividend of $5 on its new issue of common stock, payable Decem ber 6 to stock of record December 1. Chicago Potato Market. CHICAGO, Dec. -1. Potatoes, steady; receipts, 106 cars; total United States shipments, Wednesday 578, Thursday 129; Wisconsin sacked round whites. 50 90 cwt.; ditto bulk, 80c$l cwL; Min nesota sacked round whites, 75 85c cwt.; Minnesota sacked Red River Ohios, 85 00c cwt.; North Dakota sacked Red River Ohios, 8590c cwt.; Idaho sacked rurals, $1.15 cwt.; Idaho sacked russets, $7.501.75 cwt. Cotton Seed Oil. Cottonseed oil futures at New York, furnished by Jordan, Wentworth & Co., Portland: December, $9.709.74; January, $9.82 9.85 ; February, $9.91 9.92 ; March, $10.O610.07; May, $10.22(5)10.24; June, $10.2510.35; July, $lO.3010.45; Spot, 9.65. Total sales, 15,000. BETAIL DISTRIBUTION STIMULATED Diminished Demand In' Most Other Channels Reported. NEW YORK, Dec. 1. Dun's Review tomorrow will say: The final month of the year begins with the usual season characteristics of stmulated retail distribution and di minished demand in most other chan nels. With lower temperatures and de velopment of holiday requirements, the movement of goods to consumers is ex panding and favorable results in this field ,are foreshadowed. It is an inventor period in different primary markets, however, and not much in the way of new action in this quarter is to be expected for the pres ent. There would be larger buying now, even with annual accounting in progress if needs for some time ahead had not been well covered in many cases by re cent Commitments, or if difficulty were not being experienced in securing sup plies of certain commodities. The transportation congestion, if still the main drawback, is not the only ob stacle to the prompt delivery of mer chandise, lor some producers are so fully engaged on previous business that addi tional orders cannot be readily filled. Weekly bank clearings were $5,297,-612,000. Phone your want ads to The Ore gon ian. All its readers are inter ested in the classified columns. The same rules of law that apply to other insurance contracts also govern a Title Insurance Policy ' It is a contract to indemnify you against title loss. It is not a mere expression of per sonal opinion. It guarantees the identity of the persons "executing the instruments, their legal quali fications to do so, the status and legal rights ' of the parties to the contract and the gen uineness of the instruments that purport to convey or create a lien on the property in . volved. The rate for Title Insurance policy is trifling compared to the protection afforded Ask for a quotation on your next transaction or on yoar present property holdings. Title andljrust TITLE AND TRUST BUILDING-PORTLAND 7.14 On Your Money. A Safe and Sound Invest ment. . Easy Terms. $10.00 Down and $10.00 a Month. Our 7 Prior Preference Stock Now Offered at $98, Par Value $100. For Further Information Investment Department Portland Railway, Light & Power Co. Room 605 Electric Building Portland, Oregon. WE OFFER, SUBJECT CONFIRMATION", New 60-lb. Rails ASCE Section Punching as De sired, With AJiglebare, $43.50 For lone Ton, Portland, Dnty Paid, . Dock Charges iixtra. Delivery About April 1st, 1923. AMERICA FINANCE & COM MERCE CO. Importers, Exporters, 606 I.ewlN Building. Bdvry. 2827. HIGH -CLASS SALESMAN J B WANTED to sell" local in- H vestment securities. Only JJ g experienced men who can n U furnish excellent references and able to qualify for bond g need apply. All communica- tions held in strict confi- 5 g dence. Give full information g and reference in first letter, 014, Oregonian. J Swift & Company Union Stock Yards. Chicago Dividend No. 148 Dividend of TWO DOLLARS (f2.00) per share on the capital Btock of Slrift & Company, will be paid January 1. 1953, to stockholders of record Dec. 9. 1922. a. shown on the books of the Company. On account of the annual meeting etock transfer books will be cloaed from Dec 10. 1922, to Jan- 4. 1923, both inclusive. C. A. PEACOCK, Secretary. Phone your want ads Oregonian. Main 7070. to The