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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (March 8, 1914)
TIIE SUNDAY OREGONIA,' PORTLAND, MARCH 8, 1914. 11) LIST IS UNSETTLED Stock Prices Cover Unusually Wide Range. UNDERTONE IS EASIER 'St. Paul Again Moves Downward, but Recovers Part of Its Ioss Before Close London Is Seller at Openfng. NEW YORK, hlarch 7. The stock market was unsettled today and prices covered an unusually wide range. At the opening the market was de pressed by the influence of the sharp decline In the London market, followed by active selling here for European ac. count. St. Paul was the center of Weakness, although it made a better showing today than during: yesterday's decline, which followed the news that . the company hud been charged with ir regularities in its book accounts. Its extreme - loss today was three points, and at the close half of this amount had been made up. An item In the long: list of develop ments opening against the railroad shares was New Haven's decidedly poor January report. There was a deficit of $889,000. The bank statement was the most unfavorable of recent weeks. The . surplus foil off more than $9,000,000 and there wuh an actual cash loss of over $4,000. OOu. Bonds were irregular. Total sales, 1.70r.000. United States 4s, coupon, ad vanced M and the fours registered declined on call on the week. The irregular movements of stocks this week reflected the unsettled state of speculative sentiment. The storm obstructed the operations of the market - and was a depressing Influence on ac count of the loss .in earnings, which it caused. The effect was heightened by other adverse influences, bearing espe cially upon railroad securities. Chesa peake & Ohio's ?33,oo0.000 note issue was made on terms which called Into question the continued payment of dividends at the present rate. The great railroad systems reported de cidedly poor earnings for January. Ttie charge of irregularity in St. Paul ac counts upset the market. Foreign sell, ing was resumed on a large scale. The lack of poise betrayed at rimes was in contrast with the feeling of confidence at the opening of the year. While a generally hopeful view was expressed regarding the longer outlook, develop ' - m-nU of the last few weeks indicated that the definite change for the better would not be as rapid and comprehen sive as had beei expected. . In spite of these conditions, steel trade authorities expressed confidence that railroads would, perforce, be free buyers of material in a short time, and they relied upon this belief for early effective trade revival. Present for ward buying of steel, however, has fallen off. The copper market also was soft. The interior currency movement shifted away from New York and more gold was sent to France. Government deposits with banks were drawn down, iiuilroads resorted again to short-term notes because of unsatisfactory bond market conditions. Foreign money marketB eased and financial strain ( Paris relaxed. CLOSING STOCK QUOTATIONS. Reported hj ' 3. C. fWllsun & Co., Lewll building. Amal. Cupper Co.. . Am. Car & F., com... Am. Can, cum do preferred Am. cotton Oil, com. Am. L.UCO., com Am. Sugar, com...... Am. Smelt., com do preferred Salea ;Hlsll Low (Close 00 I 501 4Ut SO aft; 20 V, I -M ua si'! M Wi ;. 101 1102 54 101 101 1VX Am. Tel. &, Tel l;!0 121 jl2U;l:!(i & Anaconda Mining Co.i 3. i 30 hi j 30 J 30 Atchison, com UUVii U0t sTt 87 21 401 41 d-i nreterred ..... .irooii loo's, B. & O.. com. 1 87! SX aeei eugttr Bethlehem Steel, c. Brooklyn Ranid Tr., ; Canadian Puc, com.. ' Central Leather, com. uo preferred ..... i C. & IS. W., com... do preferred C, M. & St. P . C. & N. W.t com.... Chino Copper Chesapeake & Ohio. . Colo. Fuel k Iron. c. Coio. South., com... Consolidated Gas ... Corn Products, com, do preferred Delaware & Hudson.. Denver & Kio ti c... do preferred . . ttrie. common do 2d preferred.... do 1st preferred. .' General electric .. Ut. North, ore lands.. Ut. North., pfd. .. . Ice Securities - Illinois Central .... '' Interurban Met., c Uo preferred .... Lehigh Valley . ' Kansas City South. - Mox. Petroleum ... . Louisville & Nashville JJ., K. & T., com. . do preferred ..... Missouri Pacific .... National Lead Nevada Consolidated New Haven .New York Central.,. N. Y.. Ont. & West. . Norfolk & Western, c .North American .... Northern Pacific, com . Pacific Mail S. S Co.l Pennsylvania Hallway! f. U.. L. & COKe Co. Pressed steel Car, c tdo preferred Ray Cons. Copper . . Reading, com do 1st prat 4U U3 207 V4 3ii 12 4 2 Vi 03. ;' 3 1 .'07 T4..0S 31)4 I S2 100 12 I 12 aaftl i's-Jt l)7 VI 32 12t 2U OS ft 132 74,133 l;!2 7i 1132,4 40j O7I1I 40V 03 31 V4 133 Vi 10 it XShi "4414 148 30 Vi 12574 2!)fe 100 Hit 59 "4 14SV4 20 V 00', 135 Vi 18 'iik' "is'vi t:u SSV4 27 102 70 10954 iio 5414 32 133 11 1934 162 2894 14UV414tl 35 fSH 120 is .120 30 294 100 10U 1 59-41 58 V4 03 j 03 Vt 31V4 31V4 1 2' .133 (4,133 Vi 10 67 14U 12 2SV4 3UV4 43 a 14ti 30 126 - It 28 29 10a 14 Vi 58 14S;1407ijl457i 20Vsj 25 I 20 60 130 18 'ij" "is'vi B7 sn 27 102 Vi 70 110V4 19 Vi 164 130 17 '24 15 vi 00 SS 27 102 69 Vi 109 110V4 19 162 lot 17TS 49 24 49 10 UK ;. S8 102 69 Vi 1119 23 110V 121 Vi 42 103 10 , i;2 I 88 Rep. Iron & Steel, c. do preferred Uock Island, com .. do preferred SL L. & . F.. 2d pf. do 1st prf Southern I'uclliu. com Southern Riilway, c. do preferred Tennessee Copper . . .. Texas Pacific Union Pacific, com... do preferred U. S. Huljber, com.. do preferred ...... U. S. Steel CO.; com. do preferred . . . . Utah Copper Virginia Chemical .. Va.uash. com do preferred Western Union Teleg. Westinghouse Electric 90 7 92 24 S3 34 155 00 102 03 1H!) 5:1 30 03 70 Vi 2U 90 5 8 93 25 83 30 157 61 L102.. 64 100 53 30'4 2 23 90 4 7 92 24 S3 34 155 60 101 63 100 it 52 uo 3 71 113 70 23 90 4 7 7 03 24 83 30 14 15ii-s. 82 00 101 3 10!) 52 30 2 0 63 7 Total sales for the day, 297,000 shares. NEW YORK, ttor.s: U S ret 2s reg, BONDS. Match 7. Closing quota- 981N Y C gen 8s. 82 ao coupon ... 98 jno paciric .is... on U S Ss reg 102 No Pacific 4s... 05 do coupon ...102 Ifnlon Pacific 4s. 97 U 3 new 4s reg. Ill I Wis Central 4s.. 87 do coupon ...112 I Storks at Boston. BOSTON, March 7. Closing Quotations: AUoueg . Atnalg Copper A 7. L & Sm. Arizona Com Cal & Arizona Cal Heuia.v Centennial 3 I Nevada Con 15 . 73 Nlpissing Mines. e . 18;North Butte zs 0iNorth Lake.... . A6 'Old Dominion.. .420 losceola 16Qulncy Cop Kan Con Co 37 7iiShannon E Butte Cop M. 11 KranKiin Granby Con ... 83 Greene Cananea. 37 I Kovalle (Cod) 20 Kerr Lake 4 2 53 80 83 28 2 Superior Sud Bos Min. Tamarack 39 U 8 8 R A M... 41 do Dref erred... 48 Utah Con ,. 10 Lake Copper,... S!l'tah Copper Co. 52 La Salle Copper 4! Winona Miami Copper,.. 22Wolverine 45 Mohawk 43 New York Money Market. NEW YORK. March T. Money on call, nominal; no loans; tlma loans, firmer; 60 days, 3 per cent; 80 days. 3 per cent; six months. 3 per cent. Prime mercantile paper, 494 per cent. Sterling exchange, easy; GO days. 14.8350; demand. $4.S0S5. Commercial bills, 14.82. Bar silver, 5Sc. Mexican dollars, 45c. Government bonds, weak; railroad bonds, easy, LONDON. March 7. Bar silver steady. 26 d. Money. Ii5t2 per cent. Discount rate Short bills, 2 per cent; three months. 2 per cent. SAN FRANCISCO, Cal., March 7. Silver bars, 58 e. Mexican dollars, nominal. Drafts, sight Sc. telegraph c. Sterling on London. 60 days, $4.83; sight, f4.86. StRPLIB AGAIN. SHOWS DECREASE New York Banks' Cash Lmi for Week Is ' Heavy. NEW YORK. March 7. The statement of the actual condition oft clearing-house banks and trust companies for the week shows that they hold 117,676.500 reserve In excess of le gal requirements. This Is a decrease of S0.009.300 from last week. The statement follows: Increase. Loans t2.0R7,242.0n0 $27,488,000 Specie 300.591.000 "4.S74.00O LcksI tenders .... 74.514.000 637,000 Net deposits Circulation 1.B60,92.000 42,600.000 20,194.000 212,000 " Decrease. Banks' cash reserve In vault, $399,421,000; trust companies' cash reserve in vault, l5. 684,000; aggregate cash reserve. J465.103.- ,1. ,1 1 . I ., ,1 fill rAnuH.A . , ere ".ilil- H M - crease. S9. 099. 300: trust cotnnanies' reserve! with clearing-house members carrying 25 per cent cash reserve $73. 389. 000. Summary . of state banks and trust com panies in Greater New York not included in clearing-house statement i Increase. Loans l332.n00.SOO $2,086,000 Specie 57.5(iS.5O0 "1,287.700 Legal tenders 8.6M5.400 Total deposits 620,423,000 Decrease. 820.400 1,347,500 Coffee and Sugar. NEW YORK. March 7. Fairly steady European cables and a well-maintained coat and freight situation again failed to create any buying power around the local coffee ring and prices broke into now low ground for the season. The opening was unchanged to 3 lower under scattered selling, which became more active as prices eased off and which may have been inspired by the con tinued heavy movement. The close was steady: but 10 to 12 net lower. Sales. 16. 000 bags. March, 8.58c: May. 8.74c; July. S.3c ; September, 9.09c; October, 9.15c; De cember, 9.24ct January, 9.27c. Spot nominal; Rio, 7s, 0c; Santos, 4s, llc; mild, dull; Cordova, 1316p nomi nal. Raw sugar steady; molasses sugar, 2.38c; centrifugal, 8.01c. Refined, steady, " London Wool sales. LONDON. March 7, A fine selection of 12.640 bales caused keen bidding at the wool auction sales today. Continental, American and home trade buying hold prices firm and in sellers' favor. The sales follow: New South Wales. 1000 bales; scoured. Is Cd Ill's Id; greasy. 9dls Od. Queensland. 330O hales; scoured. . Is 3d 2s u,d: greasy, 8d&ls 3d. Victoria. 400 bales; scoured, la 3d 2s; greasy. 10dQls 3d. South Australia.' ouo bales; scoured. Is 8d size; greasy, wia tto. Tasmania, 600 balesj greasy, Is SVid Is 8d. , New Zealand. 8700 bales: scoured, Is 2d Is 8d; greasy. 7dla 4d. " Naval Stores. SAVANNAH, Ga.. March 7. Turpentine firm, 40c. Sales, none; receipts, 36 bar rels; shipments, 129 . barrels; stockc, 10, 098 barrels. Rosin firm. . Sales. 1014 pounds; receipts, 1371 ponnds; shipments. 925 pounds; stocks, 118.042 pounds.. Quote: A, B. C, D, E. $3.90; F, G. $3.S7. to $3.80 H. 4; I. $:t.95 to $4.02:. K. $4.15: M. $4.75; N. 5.70; W(J. $3.90; WW, .0. Chicago Dairy Produce. CHICAGO, March 7. Butter and cheese, unchanged. Eggs, higher: receipts. 7890 cases; at mark, cases Included. 27 27 c; . ordinary firsts. gUfr27ci firsts. 27iSi27c. England's Foreign Trade. LONDON. March 7". The' February state ment of the Board of Trade shows a de crease of $S.:2.0M in imports and an In crease of $0,440,000 in exports. ' Metal Markets. NSW YORK. March 7. The metal mar kets were dull and nominal. Lake copper, nominal; electrolytic, .14.37 H H 14.00; cust inu. .14.00tfl4.12vi; iron, unchanged. Dried Fruit at New Yerk. NEW YORK, March 7. Evaporated ap ples, steady. Prunes, firm. Peaches, active and firmer. REPORT OF THE CONDITION OF Merchants National Bank Washington and Fourth Streets, Portland, Oregon At the Close of Business, March 4, 1914 RESOURCES : Loans and Discounts ..$1,992,822.93 United States Bonds " 433,000.00 Premium on Bonds 8,480.00 Other Bonds, Stocks and Warrants.;... 824,022.15 Real Estate and Mortgages 36,508.68 Furniture and Fixtures 30.750.00 Banking Premises : 82,500.00 Cash and Due from Banks , 1,218,683.66 $4,626,767.42 LIABILITIES Capital Stock $ 500,000.00 Surplus and Undivided Profits 107,758.02 National Bank Notes Outstanding. . 4 J 300,000.00 Dividends Unpaid I... 648.25 Deposits ......... '3,718,361.15 $4,626,767.42 Total Deposits March. 4, 1914. ....... .$3,718,361.15' Total Deposits March 4, 1913. '3,399,938.06 Gain in Deposits .". . ,$ 318,423.09 REFORT OF THE CONDITION OF - Scandinavian-American Bank Of Portland, Oregon At the Close of Business March 4, 1914 ' x RESOURCES Loans and Discounts $1,185,153.05 Stocks, Bonds and Seeuritie.-s 230,833.(51 Real Estate, Furniture and Fixtures.... 49,517.00 Cash and Due from Banks 503,026.5(5 Total r... $1,974,530.22 LIABILITIES Capital Stock ....$ 100,000.00 . Surplus and Profits ..: 20,915.40 - Deposits : ............ 1,853,014.82 Total .$1,974,530.22 HIBERNI A SAVINGS BANK Of Portland, Oregon Statement at Close of Business, March 4, 1914 RESOURCES Loans and Discounts .' ..$1,774,434.69 Real Estate, Furniture and Fixtures , 62,076.19 Slot'ks and Securities .. ., 472.49 Bonds and Warrants U. S. Government 4 Per Cent Bords 55,250.00 Warrants of State of Oregon 100,401.3(5 City of Portland Improvement Bonds. . .:. 3(55,639.78 Other Bonds and Warrants 10,345.00 531.696.14 Cash on Hand and Due from Banks 703,295.89 Total .'.$3,071,975.40 LIABILITIES Capital Stock .! .$ 200,000.00 Surplus and Undivided Profits 99,012.18. Dividends Unpaid " 652.00 Savings and Time Deposits $1,810,343.75 Demand Deposits 901,967.47 2,772,311.22 Total T. .$3,071,975.40 STATEMENT OF CONDITION OF Northwestern National Bank of Portland, Oregon At the Close of Business March 4, 1914 RESOURCES Loans and Discounts $1,483,931.97 . U.' S. Bonds ' 50,000.00 'Other Bonds and Securities 641.395.24 Bonds Loaned 10,200.00 Furniture and Fixtures 42,400.00 " Cash on Hand and Due 'from Banks...... 1,1S2,976.09 Total .... .$3,410,903.30 LIABILITIES Capital Stock Paid In...... : ......$ 500,000.00 Reserved for Taxes 11,643.75 Surplus and Undivided Profits 88.187.64 Bonds Borrowed 10.200.00 Circulation 50.000.00 Deposits 2,750,871.91 . Total . . -w . . . .- .$3,410,903.30 STATEMENT OF CONDITION OF Portland Trust and Savings Bank At the Close of Business March 4, 1914 RESOURCES Loans and Discounts ...$ 677,840.79 Stocks and Bonds 116,883.57 Real Estate, Furniture and Fixtures 222,907.01 Cash and Due from Banks " 403,106.66 Total . , f $1,420,738.03 LIABILITIES Capital Stock $ 300,000.00 Surplus and Undivided Profits 66,122.61 Deposits. -. 1,054,615.42 Total . . . ".. $1,420,738.03 Directors of Both Institutions: Charles H. Carey. . P. 'W. Leadbettar. A. D. Charlton. . L. B. Menefee. H. L. Pittock, Chairman. J D. Farreil. A. S. Nichols. Win. n. Fenton. Kmery Olmstead. Geo. H. Kelly. John Twohy. Combined Deposits . . . . . $3,805,487.33 REPORT OF THE CONDITION dF The First National Bank of Portland, Oregon At the Close of Business March 4, 1914 RESOURCES Loans and Discounts $ 7,230,653.58 U. S. and Other Bonds. 2,418,101.82 Bank Building .....v 70,000.0V Cash and Exchange 5,225,355.8!J Total .$14,944,311.29 LIABILITIES ' f Capital Stock $ 1,500,000.00 Surplus and Undivided Profits 1,177,728.11 Circulation 803,245.00 - Deposits . . : 11,403,338.18 Total $14,944,311.29 STATEMENT OP CONDITION OP .Security Savings and Trust Company of Portland, Oregon At the Close of Business March 4, 1914 RESOURCES Loans . . . . '. $5,329,102.10 Bonds, Warrants 1,533,800.82 Real Estate ,. Nono Customers' Liability, Under Letters of Credit 127,958.25 Cash and Due from Correspondents. 2,055,510.59 : Total $9.64(5,371.70 LIABILITIES Capital $1,000,000.00 Surplus and Undivided Profits 535,009.21 Letters of Credit 141,483.-78 Reserved for Taxes 29,600.00 Deposits 7,940,183.77 Total . ;T. . $9,646,371.70 - STATEMENT OF CONDITION OF LUMBERMENS NATIONAL BANK - of Portland, Oregon At the Close of Business March 4, 1914 RESOURCES Loans and Disi-ounts .'.$3,480,809.81 U. S. Bonds to Secure Ciii-iilation 250,000.00 U. S. Bonds to Secure Government Deposits.. 100.000.00 Municipal Bonds and Premi ums $1,003,018.36' Other Bonds . 75,800.00 J,078.SS7.3(i Furniture ami Fixtures "Ki.liOU.OO Due from U. S. Treasury 12.."0().00 Cash on Hand and in Pknks , 1,588,588.21) t m Tolal v $(5,507,385.43 LIABILITIES Tapital $l,000,000.;iO Surplus and Undivided Profits 171,309.08 Circulation 250,000.00 Dividends Unpaid 94.50 Deposits 5,145,801.80 Total $ 0,507,385.43 ' CONDENSED REPORT Or THE UNITED STATES NATIONAL BANK Of Portland, Oregon Submitted to the Controller of the Cr-rrency At the Close of Business March 4, 1914 ASSETS - Loans and Discounts . .$ 6,001,176.34 United States Bonds at Par 1,115,000.00 Municipal and Railway Bonds... 1,516.112.49 Bank Building 125,000.00 Cash in Vaults $2,147,313.67 Due from Banks- 1,902,764.70 4,050,078.43 Total ; $12,807,367.20 LIABILITIES Capital $ 1,000,000.00 Surplus 1,000,000.00 Undivided Profits , 176.065.05 Dividends Unpaid 35.252.00 Circulation . .'. 800,000.00 Deposits 9,795,4501 Total $12,807,367.20 CONDENSED REPORT HARTMAN & THOMPSON BANKERS of Portland. Oregon At the Close of Business March 4, 1914 0 . RESOURCES Ixians and Discounts .... $222,50(5.80 .Stocks aud Bonds 128,170.00 Furniture and Fi.xturt's. Real Estate 32,155.84 Cash on Hand and Due from Bunks 130,887.45 Total $513,720.09 LIABILITIES Capital .....$100,000.00 Surplus and Undivided Profi, 17,373.93 Deposits 390,340.11) Total ' .k $.513,720.1'!! STATEMENT OF CONDITION OF LADD & TILT0N BANK At the Close of Business March 4, 1914 RESOURCES Loans and Discounts ,...$.7,699,241.91 Stocks and Bonds 3,550.99(5.78 Customers' Liability- on Letters of Credit. . . 89,110.82 Real Estate 60,000.00 Cash on Hand and Due from Banks 4yl99,083.07 Total .$15,898,432:58 LIABILITIES Capital Stock Fully Paid $ 1,000,000.00 Surplus and Undivided Profits 14276,119.79 Reserved for Taxes and Interest 49,000.00 Letters of Credit 89.110.82 Deposits 13,484,201.97 Total ..$15,898,432.58 C'MJKSK REPORT ! THE CITIZENS BANK roiiri.AM), okk;o. At the I'loe ut ltuxinran, Marrh 4, 1014. .'ash and due f 10? 1 l'.anks. . Loans City of Portland Bonds Keal Estate an-j Fixtures... Capital paid In Surplus and ProfltB. Jepovlts Hi:l)l RCES. jir,,iTo.?4 41fl.7!s)t.S8 1D9.440.00 6,554. S4 $7fc3.0.3.76 tino.ooo.no I'O.T 12.56 6.241.21 783,053.76