The Sunday Oregonian. (Portland, Ore.) 1881-current, July 13, 1919, SECTION TWO, Image 45

The Sunday Oregonian., July 13, 1919, SECTION TWO, Page 21, Image 45

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Newspaper Page TextTHE SUNDAY OREGOXIAX, PORTLAND, 'JULY- 13. 1919. MICE IHI BUTTER Production in Northwestern States Declining. DRY WEATHER CUTS SUPPLY local Receipts in Part Week 10,- COO Pounds Under Previous Week; Storage .S locks Large. Th advaort In butter prices, usual at this tlm of year, im close at hand an4 may not b dfrret beyond, the middle of the ek- Production Is declining, as shown by the decrease of nearly lO.Ovo pounds In iee.pta durlnf the pat: week. There was mora activity in cubes than sual for Saturday. Extras trortng 92 points old at 51 cents, whits Inferior trades moved as low as 4i cents. Flint prices ware uniform. Street storks ars still large, mounting to pounds, and until omi of thfs Is worked off prices may not advance, ftorare no.dingB Increased 50S;: pounds to a total cf l.liS.Tls pounds. Re ceipts Frttlay wara: Pounda1 rreron 6.sr.4 Vaiiforsta WO Total The trend of tha coast market has ben fefterallr upward during- the week. At the pen!rg Monday the San FrancUro market wss qu!t. weak and inactive and declined bout 1 while at Portlsnd It was reported uncertain and Inactive. Durlnf tha remain- der of tha week a firmer tone developed at Both markets, and closed with an advance of 1r at San Francisco sod 2c at Portland. Trading at San Francisco wss light through out the week, walls Portland had an Im proving demand for all grades. Receipts for tne week closing Friday were very heavy at Fan Francisco and amounted to a total cf Cii.oiv pounds for both markets. Stor age ni-reasea fur the week at Portland and hn Frances amount to StMVMT pounds. hife at Seattle the Increase la storage feoldlncs was !o.717 poun'la Advances showing sustained net gains of from two ro threw cnts. characterised the market at ft'hlsgo. New York. Boston and Philadelphia the pant week. Tha accumu lation of what pracrK-ally amounted to a tiree-day holiday the previous week-end. filled to g:ut tne market seriously and with the very jt-xxl trailing which developed Won day. all fur markets rallied for a week of prr'tr a?if jctory business. Ths low prices in effect at the close laat week, thought by Aianr to be the low mark for the season, have ru'wd In a large Increase In consumption. This. nrMh-r with a general return of buy Ins -onfld-n. has probably been responsible fr the Improed conditions. Scarcity of fine butter and funSer export also have helped th market. Hoi ton reports s small amount f buying for expert, mostly on under grades. h!l arl'i rumnrs are current from New ork crediting exports of from &oot to lVKn tuhs for the week, mostly of better grades. Considenahle export buying was done by houses having Chicago connections. aitorae stocks la the leading markets ara as follows: Increase. Tnjreas. F forks In M'k. enri g Wit. end g storace Julys. July.?. July 13 rr?ant .... IK. T 1 . 1 r. . Tif Fit" :HC.J !.TiT 1. T.'i'i.i".". fn . Franclaco Trt.r.o r?1.7T4 1. 1 1 V.T'.T l.'.o 12. l!"' M-g 2..vn.o7t 2.?.-X4 I'.i.h-'T.wk; New York . . . .J.v r.-.'rt a.vt.r.o.t Sl.9KTt.uT 4 PhitadeLpbia, . 1M .MM3 il.J lO -l.l'J.OT rains ara not up to expectations. Recent precipitation, however, has been very fav orable for good grain. Importations of Australian grain continue. Egg Market Closes Flrne. Eggs closed firm. The general buying price, was 4S to 4S4 cents, but thero was a wide spread In Jobbing quotations. Street stocks vera cases, compared with 2454 cases the day before, and 903 cases a week ago. Receipts Friday were V91 caees from Oregon; 117 from Washington, and 23 from Idaho, a total of 1133 cases. Receipts for the first five days of the week totalled 46 J 4 cases as against 34S9 casa In tha same period of the previous week. Cheese receipts Friday were 10,709 pounds from Oregon, 2450 from Washington and 00 from California. Walla Walls. Onions Lower. Another car of new crop Walla Walla onions arrived yesterday. They were quoted at $3 a hundrad. Walla Walla is now ship ping 20 cars dally. New potatoes were In small supply and steady at 3&4 cents. Old Yakimaa were quoted at Lt2.2.v Two cars arrived. Linseed OH Advances. An advance of 3 cents a gallon In lin seed oil was announced yesterday. Ra In barrels Is quoted at S2.32 and In cases at -,4-'. boiled In barrels at S2.34 and In cases at 1-44. Bank Clearings. Bank clearings of the northwestern cities yea i era ay were as XoUown: 4. learinrs. Balance. Portland S 1.037. 124 Statue o.-'."3.Sl2 1.7AC.SA3 Ta. oma ia.l'77 ;r.U.7:i0 Spokane l.oT0.3bl 443.414 Clearings of Portland. Seattle and Tacuma for the past week and corresponding week la former years were: Portland. Seattle. .138 343.ei.V1 $4.1,034.991 1519. 11S. J17. 1316. ri4. 1!13. )M I. I!M. 1 Tf . J '. I :. 44l4 liM .) in...3,i 13 3 .:'.. 4J7 11.5M.4 .ytH.7:is 11.4M.l:'4 S.34.t(iO 4. (. M4 :t. i.4"o 4.i7.H l.'.3o3.56A ll'.MM.liHl 13.379.313 J.513,6f . 187.172 31.553.514 3S.J303J .11A,7 e.lu7.t 931M'A2 Taroma. 6.197.140 3. J44,!i57 2.&OH..M2 1.7J7.6A9 5.13.93 4. ni',2.M 3.911.10!) 3.7 10. 393 6.70.3f3 4.U71.392 4.b33.13 3,0A3,96o SPECIAL STOCKS H LEAD TOBACCO SHARES AXD 3IOTOR ' ACCESSORIES STRONG. NEW. ISSUE r We Offer Subject" to Prior Sale 150,000 Shares (par value $10.00) of. the Full Paid and Non-Assessable Capital Stock of the Atlas Petroleum Corporation A Steady Income Government and Municipal Bonds assure the in vestor a steady income the moment his money is placed in such securities. Better investments are not obtainable, because Government and Municipal Bonds combine every element of safety with un usually good interest yield. They are the "promise to pay" of the government, state, county, district or municipality issuing them, and have all respective taxable resource? pledged to payment of principal and interest when due. Make a selection from the following group of Bonds turn your idle dollars into a steady income BE A COUPON CLIPPER. Exempt From All FtdenI Income Taxm. ' . CAPITALIZATION: Orrsnfxed vnder ths Isws of the State of Telsw-7s. Authorized Unissued . - ' Outstanding Including present offer!' . ....t5,oO.O0O.fl ..ZKO.OoO Shares ..250,000 Shares Coppers Slow In Responding to Ad vanced Price of Metal Steel Strengthens at Close. To tali .It ft.."...-..! n.47.T4J2 $.S0.42t PEACH FS CLEANING VP READILY. First Car sff Cantaloup Shipped From Tsrlork for rsrtlaad. Peahee r leaned up readily at steady ffflres. Earlr Orearons hrlnrins; SOcfill and California St. Johns $ 1.23 1.5. Receipt Included 1?7 box from Oregon and 78 f mm Cal 1 f om la. A st r I rh t car of Call -fom i a apricots arrived and wss put on sale at J2.iO a 2.7V Cantaloup wre In !Hera! impr7. fl" mrs romlrr in from the south. fome stork ef poor ju.iTtt Is belne offered. Prices ranged from f 1.75 for flats to 4.50 for the -r-t standard. Twr cars were shipped f-nrn Turic k on Krtriay. one of th"m fnr Port Ian.!. Imperial Valley shipments for the ssn have broken all records passing the "W.r.if rn.irk the mi idle of the past werk. The dally movement ts derlinins; rapldfy. ep-taily In the northern portion f the a'lT. Ijite crops rrown on lettuce and p land are new supplying rod stock and th year's output Is expected to fx red 70 cars unless the present hot weath er eus down thf movemrnt suddenly. There h ben little nw thts saimn from aphis and the crop has hen handled with lesa rx'. (Kan tl.-ll I In anil. r,f if. va atv. 1 Root knot caused by nematodes has done J"1 M M J,i STtoua dimif ln certain fields. Three ! j JJ'J ! thnuand a-rrs have Nn reported tn the J K iT fS.uihe'-n . Tiktma valley or approximately the same i Kenn-cott cp. mm jt year. Frost has done tittle dam-I 'ivljoi' m k nui corn wrarner in ur ana June nin- . .Mtaint topp at red rrowtns to It la expected there will ' Mi'Aale tte be smMer melons than usual. The crop Is about aVJ per cnt of normal. NEW TOEK. July 12- 8tartinr at a mod erate pate, today's brU f session of the tovk market soon Ix-came active on renewed luyliiff vt speculative hares, especially to bacwa and motor accessories. letter the movement embraced equip ments, shippings, steels and miscellaneous issues. lo low -pried rails, with Denver ft Itio ;rsnue prefvrred ths leaturs at a sain of virtually J pom:. I'mtcd 6tates eitcil was variable at tha outset but developed marked strength to ward th close, gamins; almost 2 points, while CruUble Steel mde a sudden rise of t j-cints. Coppers were tiot very responsive to the 21c price quoted for the refined metal, al though Anaconda. Utah and American me.ting hardened with ths general list in the wveplna; uprush at the end. The mure proiiiliiont features were Amer ican and Lorjilurd tobaccos. United Cigars. AJax Kubber. Kelly-Springfield and Key tonu tires. United States Kubber. Mexi can and Fan-Am rican Petroleums. tiilf States Steel, Central Foundry. Pennsylvania Sen hoard Steel and several food shares, bales j amounted to shares. ' The bank statement preeented no note worthy changes, actual loans showing only a nominal Increase, deaplte the weeks ac tive stork dfaJinsTS. while an lncrae nf atKut ;.it.oi m res-rves reported only a partial recovery from the preceding week's laro contract ion. 1 radins in bonds lacked soeclal featur. but liberty Issue and bonds of secontlury trar.spurttions were steady to firm. Total sU-s. par value, apjregated 4.37o.oOO. Old l nttea ntstes bonus were unc hugged on cj.11 during the week. CLOSING STOCK QUOTATIONS. Twtst sales. High. lxw. l.tx HO 14 Comprise about 33,100 acres of .1 gas leases located in Mirlon Connty. West Virginia, and In Kimble. Sutton k . Edwards Counties. Texas. The West Virginia acreage Is proven territory in the prolific Mannlngton District. The Texas hold ings are located upon the well-known Edwards Plateau and were originally selected bv oil experts for Benedum and Trees of Pittsburgh, more than a year ago. The Edwards Plateau Is believed by numerous geologists and oil operators to overlie the southwestern extension of the Pennsylvania formation which has proven so pro ductive in the Central Texas fields. There are now seven producing wells upon the West Virginia properties. Well Ho. I Is drilling and there are locations for at least eleven more. Three locations have been selected on ths Texas properties, the material and equipment for which ars on the ground and operations are being conducted as rapidly as possible. The properties of the Corporation both tn West Virginia and Texas are equipped with standard rigs, casing, cable, strings of tools, automobiles, motor trucks, ware houses, etc., etc. In fact everything necessary to complete the work now under way. t A conservative estimate of the value of the assets of the Corporation suggest a book value for the stock comparing favorably with the price of the present o daring. The Corporation has no bonds no preferred stock the financing arranged for will provide cash for future development, and, the $3,600,000.00 unissued stock will suf fice for the contemplated acquistlon of additional production, leasee and their proper development. ALEXIS I. duPONT. Wilmington. Delaware. Secretary E. I. duPont de Nemours ds Co. EDWARD B. RICH, Oil Operator, Menard. Texas, and Parkers burg, W. Va. C. A. PATTERSON, Wilmington, Delaware. Vice Pres. E. I. duPont de Nemours A Co. SYLVESTER D. TOWN SEND. Jr.. Wilmington, Del. Pres. Delaware Workmen's Compensation Board , SIMON L. WOLFE. Oil Operator. Parkersburg, W. Va.. and Alacksburg, Ohio. CORPORATION GUARANTEE AND TRUST CO Lnd Title Bldg.. Philadelphia, Pa. TTNTON TRUST 4 DEPOSIT CO.. ParkeWbura!, W. Va. BAN:: OF MENARD. Menard, Texas. WILMINGTON TRUST COMPANY, Wilmington. DeL PEOPLES BANKING 4 TRUST CO.. Marietta, Ohio. It Is the belief of the men In charge that the properties of the Corporation can be developed successfully and profitably. The present management advises that no application will be made to list the stock. This Is In line with the policy adopted by the Standard Oil Companies. Thi issos im rec ofnm ndd as m specofatisfi that satisfactorily tsmmsnm thm inherent risk at m pioneering 4f bnMtnesM, with a financially interested management whote pro Pen capabilities and integrity ara a sufficient guarantee that its business will be conducted and tha properties developed in the best interests of all cent si nsaf. The legality of this tssus has been approved by PROPERTIES: DEVELOPMENT: EQUIPMENT: APPRAISAL: FINANCIAL: OFFICERS &' DIRECTORS: REGISTRAR AND TRANSFER AGT.t DEPOSITORIES: FUTURE: LISTING: EDGAR J. PERSHING, Attorney at Law Land Title Building, Philadelphia. Pa. SYLVESTER D. TOWNSEND, TBL, Attorney at Law Ford Building, Wilmington, DeL Suh.eHptlon. will b. rgfrivrd dfrct by the umi.rlrned er from and throurh y.nr own brokgr. Th. right l rrarrved to accept or rjct any aub.crlptlon and to allot . Ieer number of .hare, than aub.cribed (or. Price $S.SO Per Share Winslow Taylor & Company MAIN OFFICE: 130 SOUTH 15th STREET Opposite the Union League. -g PHILADELPHIA, PA. BRANCH OFFICES: Race 7 New York. N. V. , Plrtabnrgh, Pa. Johnstown, Pa. Chester, Pa. Atlantic City, N. J. I moniown, ra. ijiudb, raw uuer, xm. muiniiw, xm The information contained herein has bean obtained from what wa regard as reliable sources and while wa do not guarantee it we believe it to be accurate. 8. ."'H 7,iio l.T'N) V -'H Am Beet Sugar. American I'.n. . Am fur eV Jrdry. Am HAL. pid. American i-tn'o. Am Sm si Hetg. Am S'jfcar Kelg. Am Sum Tobne. Amer Tel TeL A:u Z ! Sr Sni. . Aricioitnda Cop. . Atchtsuit A OaVVISSi. Baldwin l,ouo .. Ha t A Ohio ... Heth Steel B .. B a S I'opper . . t'aiir j'etroi Canadian Iscif. S.mhI tVntral Leather o..mi rhfi & Onto ... :tM Ch M !St P . . 1.4M0 Chicago N W Chi K I Pac. 7,.1t Chino Copper .. I.'Jimi c ! Fu i Iron. 'J.hm Corn Products.. Crucible Stel .. Cult Cane Sue. V S od I'rutls. Krie t.enerat Ktectric i.enra I M otors . H Nor Pfd .... C.t Nor Ore ctfs. Illinois Central. Inspir copper 7ih b.."tN N5 la, 3.t, i;i ll4 17I I s r.4 7.INM Il 1.1 Mt I'lHI 2 IMH) 2.:w 171 l.-.54 51 A 4, 1 BT 4 ; 4.2UO ALL Ripa JOB OATS ARC KAISEd! Iel Market M r-ets ta S1.M nighec Harliy Inehanxed. fss we- the Bt-oficst of the cereals t the ToraT board at the close of the week. Tt's for bu'k p.i:i ere advanced fl 17 1.0 and sack I o&ts offered were raised SO rr.ta C.'n a'so AO cnts higher. Bar lv was uncuncd at the previous day's Weather corM'Tns In the middle west as wi-r.i fmn cht.-aro: '"North writ, mostly r'ouJT. s-'ivt- rtn lost n:Ut; Xu!utX ar, fine; Wtnnipec. clear. ?0; Chicago, cloudy. arm; Lvri. r .oudy, p easant: Omaha, Pt r- ; Tcrvk .. cler. ht; taven- prr. f'oo.lr. 70. Ohio va:er. c'oudy. 7." Terrrirtil rv-.p-. m cars were reported by the X'rchants ri-:iAnc as fo?1os: v ii-at. i:ar:eyJ-:our.Oas.Hay. . 1 10 twxi '.74M( 3"..1 M issouri P-.rIic XiWJ Montana Po'r. Ne ad Copper. 1. '' N V iVniral ... N V Ml H.. Norf W. Northern Vsrif . ;m Fan -Am Tetrol. 11. l.iMI i !" til , '" 4.".', '.'IS r.n 1 13 lu:;'i i'5 '; 177 lilt -Ml., f..-. :.i :i.; !-, Jn7 4H .'.4 Kli 11 " 171 'i 1'H SI .-.1 V. 71. 4lTi 4!S bale. ll'i KU 1 lo, l;4 is 1 K. 111, JU4 70 1"1 i 17K li:i 4.-., 7, :4rt ls 44 'i lwH hi 1-1 7I' 171 11.-. S JIMI 117 "4 4J'. 1JO, Ml 1. Sat.. T-.iI Ihi. ...Ic V.. I At ! .i.e.. l.T.H T.. om.. t'r:d y t-.ra.. a-.-n : . . r ifu . 'a?t. Friday .r ..... ) ..r t 1 I St 1.7-h S. 4MI 71S .) 1114 T. B44 7,1tm ii, i.hhi Pc nn.ylv.nu Pit. At W a . . Pltlsbura Coal-. R.y m:ol Cop. K.adlna B-p lr Stl.. Sh.t Aria Cop. Sin Oil Jk Km.. outhrn Paclf. tf..ulh.,n Itv U..l.4.lk.rCor. 1lO T Co 4"" S T.l'A'CO Prtt... 4.1'0 10.1 I rion I'aclflr .. 1.H 114H t'nll Cia ptr... V S Iml Alcohol 14 ! . .107. 7" 11 :"i Jo pf.l 3"!T rt coppt ... .-" Wrm-.trt F.l"trto --..Ml .'. lllv.-"v.rland . .! Koyal Dutch ... Ct. -H HIS BONDS. 3 "n" in.-. 14 4.-., :t7s 71 J.-.s SM1-, li K17S SOi. ins l'7:t 1".TTi 1-14 14l 111 11S 1.7 774 a so 1"7 '..! 711. S HIS !7S 11 ion i"Vs 1 14JS Jl.-.S .-.s 114 117 i:inrr bhinc Argentina corn l-.rc hlpmnt. t. CMtlnrataJ Cntrlr. Th. com situation la th Tnitrd Klnr riom .hows no chancr. rablra Broomhall. Contin.n'.ml countrlr. .pp..r ntor. tntrr .il tn Plat, com and I. la ipctrd .hip. a.nia from Arg.nttna to Euro p. will b anintalnrl In go4 volumr. DanuMan crop. coo!!nu t. b watched and latest I'iTtcf are of a. mora farorabl. nature. Arrenttn. .blpnlenta to th. Vnltetl Cltates will probably continue (air. but further chartering, are difficult. Portlona of tl.e atock of Imported Ckata. which hav. been weld tn ator. for the t'nlted Klnsdom for aim time, ar. now belna; offered, and meeting reailr abaorptlon. I'roapecta In tha Vntted KmcdoTn. as recarda the crop. can aot b. considered eaceltent. .lthouah th. recent weather haa been helpful In re lieving th. dryneaa. French reports ar. pessimistic: la fact, reports from all west ern ITuroo. mention dsmift complalnta. win, to th. drouth. India. Latest cab!, advice, ear that th. 1 or 11 mi a ao uracil vary weak, and tau U ft I.I SHI... " R'Am T T cv Ss.l0?ij, do l.t 4. ....! IM Alrh rB 4n .... MM, to III ' K.t -' D R G ref Ss.. w l.t 4'e 9:. UK N' Y C deb 6a... !s rfo -.1 4 V.... M lO V P 4s ..ml do .l 4Vs KSOOV P 3 o atn 4's 4 14 Pac T T Ss ': IVI. torr a . .H'M l' con Ss 1 do 4 POMS P cv it u.s 1- l u ref ;s rea-.-.it11. So Fly Sa do coui-on .... f"S I' P ss - I U 8 cv 3 re.. .. S! ICS Steel Ss. . . .10S 4 ' .lo muDon .... ri lAnclo-Fr OS U7W U S 4 re 1H do coupon ....lOol products waa most clearly shown In en larged bank rtearlnea. the substantial gain in unfilled orders reported by the United .States Steel corporation and the Widespread demand for leading commodities, aa Indi cated by the rise in metals, refined copper being quoted at L'l cents a pound. Weakness of sterling and francs, tha for mer receding to lowest levels In almoat five years, waa without effect upon market values, but among international bankers this movement emphasized the needs for early completion of the plan to effect Europe's financial rehabilitation. The president's address to the senate w us mnue tho occasion of & bear attack, but prices rallied eafily in the various issues which have been the apecial objects of speculative attention for the past four months. From the viewpoint of the Investor the most disappointing feature was the further backwardness of high-grade rails and the failure of the bond market to reflect more than a moderate mid-year Inquiry. Tills was accounted for in part, however, by new corporate financing, which absorbed much of the floating supply of new capital. latest official advlcea show a downward revision of estimates for some of the prin cipal crops, especially wheat, but the pros pective yield, even allowing lor additional deterioration, promises to exceed by fully 1'iti.iMiu.iMiu pusneis the high record of lour years ago. COLD RESERVES STILt, DECI-tSIJfa Decrease In Past Week of Over Seventeen Millions Reported. WASHINOTON. July li. Gold reserves of the 12 federal reserve banks showed & de crease lor the fourth successive week on the statement of conditions at the close of business July 11, issued tonight. The de crease amounted to $17. 12J,04Hi and reduced the ratio of gold reserves to the notes which they secure trom 61.7 per cent, as it stood on July 3, to tXi.5 per cent. The statement follows: Resources Oold coin and certificates t 270.545.000 Gold settlement fund K. R. B. . n34. 812.000 22.37c; December, 22.10c: January, 22.04c; March, 21.0.1c: May. L'l. 85c. Spot, coffee, nominal; Rio 7a, 2354c; Santos 4a, 2Sc. Eastern Dairy Produce. NEW YORK, July 12. Butter, firmer: creamery higher than extras, 534 &64c; extra, &2x0S3c; first. My52c Eggs, irregular: unchanged. Cheese, firm; unchanged. CHICAOO, July 12. Butter, firm. Cream ers'. 4tir51c. Eggs Receipts, 15.S00 cases; unchanged. Poultry Alive, unchanged. Dnlnth Linseed Market. DUL.UTH. July 12. Linseed on track, f(!.ll; arrive. $11.10; July and September. etf.10 bid; October, S6.03; November. 50.S3 bid: L'ecember, S5.S0 bid. Advance in Refined Copper. , , NEW YORK, Joly 12. Refined copper was quoted at 21 cents a pound by one of the leading selling agencies today. This week and 614 cents over the low price of last March. In trade circles, runner ad vances were predicted for high-grade cop per. Germany, it is understood. Is in the market for enormous quantities of the metal. . Seattle Feed and Bay. SEATTLE. July 12. Hay and feed, city delivery: Feed Mill run 40 per ton; scratch feed, $81; feed wheat, 501: all-grain chop, $67: oats. $13: rolled oats, $65; cracked corn, $70; rolled barley, $68; clipped barley. $73. Hay Eastern Washington timothy, mixed, f:ir.Xfi; double compressed, $40 41; alfalfa. 2!&30. ' Increase in Excess Reserve. NEW YORK. July 12. The actual con dition of clearing house banks and ti-ust companies for the week shows that they hold $3.1.082,270 reserve in excess of legal requirements. This is an increase of $26, 004,570 from last week. Cotton Market. NEW YORK. July 12. Cotton Spot ropres.-nts an ailvane of 1 lS cents for the i 'ady. middling. $"6. Total gold held by banka. Goid with K. R. agents Gold redemption fund Total rold reserves . tLMu ri aimi Legal tender notes, silver, etc. 6S.3o70o0 . I o34.S57.noo .$1,163,060.01)0 114.30U.000 Total reserrea ........... I2.180.iM l Oimi Bills discounted: becured by government war obligations $1.64.P4.Ono All other ant nun Bills bought in open market... 360.Oo5.000 Total bills on hand .--.T-. t 2.!M1h 34 nun t S. government bonds. ...... $ 27.13l!ooO U. S. victory notes S74.O0O.llOO L'. S- cert, of Indebtedness..... 206.054.Ooo EXCLUSIVE DEALERS IN GOVERNMENT CORPORATION MUNICIPAL BONDS PwOBERTSON & EWING 207-8 N. W. BANK BLDG. PORTLAND, OR. Total eamtns; assets S2.520.AOT.iKin Bank premiere $ ll,6iii),000 Uncollected items and other de ductions from irrojs deposits T40 fi4 fKVft Fie per rent redemption Xund atcalnat r. R. bank notes lOftR--ono AH oincr resources- 10.334 'ooo Mid, Moaey. FwMnre. Kte. XFW YORK. July 1 Mercantile paper, jw,i; per cnt. Srerlinc. ek-dr bills, nominal? commercial CO-Uay b.Iis on banks. $4.47; commercial 60- iv Mils. 4 4d; demand. 4.4; cables. 94 4. Krantf, demand. ti.S.": rabies, tls. t.wtlifent. demand. 3"; cables. SH Lire. e mSa. MTS. cables. 8 37. :r s..vr. WlH- Mexicaa dol.ars, -1TC f LONDON". July 1- Bar silver. 53t4d per ounce. Mcney and discount uncbancd. TRAlt ACTIVITY 1TRE.SIC Stock firpecnlAtloa Mimolated by 1m proved BusinCM l oaiditlona. NEW YORK. July 12. Greater Industrial and mercantile activity, a sharp advance in call loans to quotations approximating; the year's niftiest rates, the more adverse move men I of exchange acatnst London and Paris and the president' delivery of ttie peace treaty to the senate, were the outstanding factor of anotlier busy week in tn stock market skUnaosion ot lenexsJ trads and finished Total resources eo.4S3,l7,0o0 Liabilltl-s ' Capital pid tn S sr. i nnn Surplus 81.UH7.0iK) Government deposits l.M.JH. (mm) Due to members, reserve acct. 1.7i:,3i'j!o0 Deferred availability items ui rum Other deposit, including for eign government credits 114.6T8.000 Total gross deposits $2,5is3,47 0W Federal reserve notes In actual circulation $2,533,127,000 Federal reserve bank notes in circulation, net liability 184$ft6 0oO All otuer liabilities 12.Sl'tM)0 Total liabilities $5,43.197,000 Ratio of total reserves to net deposits and federal reservs note liabilities combined, 4V.8 pet cent. Ratio of gold reserves to federal reserve notvs in circulation after setting aside 33 per cent against net deposits liabilities, 60 5 per cent. React ton in Coffee Futures. 5NSW YORK, July 12. There were re act ions In the market for coffee futures today under realising for over the week end and scattered selling on the somewhat easier showing of Brazil. The opening was b points lower on September, but generally to j! points lower, with ecarober sell ing off to i'l.V5c and March to 21.70c dur ing the middle of the morning, or 34 to 40 points under last night's closing figures. At this level there was a lttUs European buying or covering which may have been due to ths reports of a resumption of trade with Germany and the close was a few poluts up from ths lowest at a .net decline of 17 to 20 points. Closing bids: Jul. 2-. 60c; September, -J2.50ci October. SECURITIES BASED ON CONSERVATIVE LAND VALUES NEVER FLUCTUATE PAY HIGHEST RATES OF INTEREST WITH GREATEST SAFETY OF INVESTMENT -No purchaser of our securities has ever had a default in interest or principal. COMMERCE SAFE DEPOSIT AND MORTGAGE COMPANY Ground' Floor Chamber of Commerce Bldg. STOCKS BONDS GRAIN COTTON J. B. Steinbach & Co., Brokers Direct Private Wires to All Leadiifg Exchanges Correspondents E. F. Hutton & Co., and Clement Curtis & Co., members New York Stock Exchange, New York Cotton. Exchange, Chicago Board of Trade, etc 201-2-3 Railway Ex. Phone: Main 283 Ji-J 1920-V9 fvno-in JJ 1020-30 6 0O-2S A&O 192K-3S BOO AtO 1U39 6.00 S!A 1918-84 4 90' ii'SxS Astoria, City of, Oreg-on, Improvement 8 JJ . l'.'0-24 5.00-W Astoria, ny or. oreg-on. Improvement 0 87,827 Astoria. City of. Oregon, Improvement 6 , 1.000 Astoria, City of, Oregon. Municipal.... 5 45.000 Baker County. Oregon. S.D. No. 24.... 0 32,550 Clackamas County. Oregon. U.H.S.D. No. 3 5 1.000 Columbia County. Oregon. Road.. 5 1.000 Portland, City of. Oregon, City Hall.. S 9,000 Portland, City of, Oregon, Water...'. 5 4.00O Portland. City of, Oregon, A. C 5 4.0(H) Sherman Countv. Oreirnn s r TJ "1 a 7S.U00 Tillamook, County of, Oregon, Road...fitt J&J 1924-28 ii.wu i.iuauua county, uregon, a. u. io. a., o M&s l32-is 2,000 Warrenton. City of, Oregon, Municipal 6 3iI-N 192K-38 1,000 Seattle, Washington, S. D. No. 1 4 MiN 1928 1.000 Seattle, Washington, S.D. No. 1, Ser.8. 44 M&N 192S 5.000 Seattle. Washington. S r. J.Jr. 1. 4 1. in-a o,vw uiueiiu, iny oi, w asnington, water, 29,000 Bonner County, Idaho, S.D. No. 4.. 40,000 Bonner County. Idaho, I. S. D. No. 1 62,000 Buhl, City of. Idaho. Water 25.000 Buhl, City of, Idaho, City Hall.... 82,000 Buhl, City of. Idaho, Intersection., 15,000 Buhl, City of, Idaho. Fire 60,000 Caribou County. Idaho, R. & B 10.500 Clark County. Idaho. S. D. No. 61.. 25,000 Fremont and Madison Counties, J.S.D. No. 8 6 85,000 Fremont County. Idaho. I. S.D. No. 2.. 54 J&D 1W0-39 1.000 Gooding County, Idaho, Bliss II. Dis. .. 6 J&J 1925-83 o,ruu Jerome county, idano, Hillsdale H. D. 6 7U.0OO Minidoka County. Idaho, Highway 8 41,000 Nez Perce County, Idaho, Clearwater H.D 6 8,000 Owyhee County. Idaho, H. D 6 1,000 Power, County of. Idaho. I.H.D. No. 8 8 25,000 Power County, Idaho. Crystal High.. 6 42.000 Rigby, I. S. D. No. 5, Idaho (Jeff.Co.). S 24,000 Rupert. Idaho. I. S D. No. 1 8 19,000 St. Anthony, City of, Idaho, Genls.... 8 70,600 St. Anthony. City of. Idaho, Spec 7 5,000 Twin Falls County, Idaho, High. Dis.. 6 29.000 Twin Falls County, Idaho, Buhl I.S.D. No. 3 6 ?,ouu Koosevelt. city or, Utah. Water. A&O 1924 J&J 1922 J&J 1923 F&A 1925-18 J&D 1935-38 8 M &.S 1924-I8 J&D 1920-39 5t J&J 1930-39 J&D 1930-89 J&D 1930-39 J&D 1930-39 J&D 1929-38 HocN 1930-31) JD 1980-89 J&J 1930-39 J&J 1930-38 6 6 4.90 4 70 4 70 4.70 6.00 4 80 5 00 B.75 4.70 4.70 4.70 5 40 6 00 6.00 6.20 6 20 6 20 R 20 6.00 6.00 8 00 6.00 6 25 5 20 6.15 J&J 1029-39 6.25 J&J 1931 5.25 J&J 1930-38 B.2.1 J&J 1930-S9 5.25 M&N 1930-39 Jl&N 1930-39 J&J 1929-39 825 J&J 1920-27 5.50-8T J&J 1934-87 6.10 6 00 5.00 8.00 5.40 J&D 1930-39 J&D 1932-3S Exempt From AU Dominion Government Taxation. 83,000 Alberta, Province of. University Guar antee 4t J&J 1924 800 8,000 Alberta, Government of Provlnte of.. 4 F&A 1924 5.50 86,090 British Columbia. Province of 4V J&J 1920 5.50 75,000 British Columbia, Province of 6 J&J 1989 5.55 1,600 British Columbia, Province of 5V4 M&S 1939 6.50 10,000 Calgary, City of. Alberta, School 4(4 Feb. 1922 fi.00 4.000 Calgary. City of. Alberta. School 414 Feb. 1924 8 00 2,000 Calgary, City of. Alberta, School 414 Feb. 1928 (l oo 60.000 Edmonton, City of. Gold Notes 6 F&A 1924 6.00 44.000 Greater Winnipeg Water District 5 J&J 1922 6.00 17,000 Greater Winnipeg Water District 6 F&A 1923 6.00 83,500 Lethbridge, City of. Prov. of Alberta 6 F&A 1924 6.00 7O0 Montreal. City of. Province of Quebec 6 M&N 1023 6.75 98.100 Newfoundland. Government of 514 J&J 1939 5.50 1,000 Saskatoon, City of. Province of Sask. 5 J&J 1943 5.75 25,000 St. Boniface, City of. Province of Man. 5 J&J 1935 6. 75 74,900 St. Boniface, City of. Province cf Man. 5 M&N 1943 6.73 30,000 Victoria, City of. Province of B. C... 5t4 A&O 1939 5.75 6,000 Victoria, City of. Province of B. C 51 A&O 1940 6.75 LIBERTY and VICTORY BONDS If Yon Mast Sell Toot IJberty or Victory Bond. Sfll to X'n. If you can buy more Liberty or Victory Bood. Buy From In. On .Saturday, July 12, the closing market prices were given below. They are the governing prices for Liberty and Victory bonds all over the world, and the highest. We advertise these prices daily in order that you may always know the New York market and the exact value of your Liberty and Victory bonds. Victory Victory 3Us 1st 4s 2d 4s Iftt 45 2d 4b Si 4a 4th 4h -iB 4s Mkt. price $Uy.32 $94.00 $i3.50 $D5.U4 .$94.10 $95.00 $94.10 $100.02 $ 00.:4 Ac Int... .28 .32 .68 .34 .70 1.40 1.05 .3ti .71 Total Ji9.60 $94.32 $94.16 $95.8S $94 SO $0(140 $99.1.5 SKtO r.M ftlOO.ftl When buying we deduct 37c on a o0 bond and 12.50 on a $1000 bond. We sell at the New York market plus the accrued interest. Burglar and fireproof Safe leponit Boxes for Rent. MORRIS BROTHERS, Inc. THE PREMIER MUNICIPAL, BOND HOISE Morris Bids., 309-311 Stark St Bet. Fifth and Sixth Telephone Broadway 2151 Established Over SS Tears ADVANCE OFFERING We are members of the syndicate underwriting $75,000,000 Ford Motor Company Notes The obligation is to be evidenced by the company's prom issory notes, maturing in 90 days or less. The Ford Motor Company has never borrowed heretofore. This financing is occasioned by certain adjustments which the company is making and is of a temporary nature. Subject to prior sale and advance in price, WE OFFER OUR ALLOTMENT OF THESE NOTES ON A 5'2 BASIS. Lumbermens Trust Company Lumbermens Bldg. Fifth and Stark Six Hundred Thousand Dollars in Capital and Surplus G. E. Miller & Company Established 1912 INVESTMENT SECURITIES Government Municipal Corporation Bonds 205-6 NORTHWESTERN BANK BLDG. Phone Main 4195 Bonds for Investment "We own and offer a com prehensive list of carefully selected Government, Mu nicipal and Corporation Bonds which we recom mend for investment, yield ing up to 7 Ask for details. SBCOND R0SR Meat i hum i law Bank Bum. Haul .4 Freeman Smith Camp Co. OVERBEGK & COOKE GO. Brokers. Stockn, Bonds, Cotton, Grain. Etc. 216-217 BOARD OF TRADE BLDG. 31KMBEB8 CHICAGO BOARD OF 1 KADK MEMBERS Correspondents of Lojran ft Bryan, Chicago and New York. New York Stock Exchange. Chlc&jro Stock Exchange. Boston Stock Exchange. Chicago Board of Trade. w York Cotton Exchange. w Orleans Cotton Exchange. w York Coffee Exchange. New York Produce Exchange. Liverpool Cotton AstKM&Ulon. FREE "What's What" in Texas Oil Straight facts on the Wonder Oil Fields of the World, told large independent operator. Also map of prod&cing district. It's Free. laaoe Limited. Send Tudar. JAMES A. BOB, Entire Floor, 1008- H Houston Street, Fort Worth, Texas.