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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Oct. 31, 1920)
THE SUNDAY OREGOXIAX, PORTLAND,. OCTOBER 31, 1D20 21 DEMAND FOR APPLES IS SLOWER N Dealers Are Purchasing Only Against Sales. PRICES FAIRLY STEADY SVorthwestern Boxed Fruit Selling In Eastern Markets Close to Last Vear's Level. All apple markets were steady In the ftaat week, but at no point was there a strong demand. . As in all other com modity lines, buyers are proceeding- with eaution and purchasing only against sales. There is no room for speculation in food lines, where the future course of prices is o uncertain. In the eastern apple markets Pacific Borthwestern fruit has sold uo well to last yeafi prices. Extra fancy Jonathans dur ing the week brought 93&3.50 at New Tork and a. year ago they sold at 3.2533.40. At Kansas City the week's prices were 93.50(3)3,75 against 13.50 a year ago. Chi cago auction prices were J2.703.10 and last year they moved at $2.G53.40. Phila delphia sold Jonathans during the week at $33.40 and last year at $2.83S3.15 at auction. There were not many sales In the latter part of the week at northwestern shipping points, Yakima quoted, carlots of Spitzen bergs, medium to large extra fancy at 92.25, fancy at J2. Homes large, extra fancy, at $1.90, fancy at $1.65, Winesapa, mall, extra fancy, t $1.90, and medium to large fancy at the same price. The week's shipments from the boxed apple districts were 3245 cars, as com pared with 3234 cars in the previous week and 30tt cars in the corresponding week last year. Western apple prices ruling In the New Tork market were wired as follows: Jonathans, extra fancy, medium to large, mostly $3.&3.25, few high as $3 40; email. $2.25&2.75; ordinary condition, $2; fancy, medium to large, best. $2.502.75. Spitzen bergs, extra fancy, medium to targe, best $3.50 3.75; ordinary condition, low as $3; small, best, $3 3.25. Delicious, extra fancy, medium to large, best, $3. 75(g) 4.25, mostly $4; small, $3.253.50. W. Bananas, extra fancy, medium to large, mostly, $3.25 a3.ri), few $3.75; small, $3 3.25. King l'avldn, extra fancy, all sizes, $2.252.75. In the eastern producing sections buying has also been slow. Most sales at New York shipping points were on a bulk 100 pounds basis. Greenings bringing $1 and Baldwins $1.25. Middle western barreled Jonathans were slow aiyl dull at $7 to ?8 in Kansas City and $7.50 to $9 In Chicago. New York bulk. Rhode Island Greenings declined 10 cents to 25 cents In Cincinnati, closing $1.15 to $1.25 per 100 lbs. New York barreled Greeninps were steady in Minneapolis at $ft to $0.50 per barrel but declined 75 cents In St. Paul, closing at $G. Chicago was slow and weak, declining frcm an opening range of $4.25 to $5 to a close of $3.75 to $4.50, Southeastern York Imperials strengthened In New York the latter part of the week, advancing to a closing range- of $4.25 to $4.50 per barrel. Prices were 25 cents to $1 per barrel lower In other eastern markets by the end of the -week, closing $3.50 to $4.25. Shipments of barreled apples were 5601 cars against 5037 cars the previous week and 3827 cars in the same week last year. FINK WOOLS MAINTAIN POSITION Inferior Grades Tending Downward at Aastraliun (Sales. Cables from Australia show that the 1est fine wools are maintaining the firm position which they Indicated would be the chho at the opening of the Australian : season. "While the average and inferior wools, which are in relatively large sup ply, are still tending downward. The premium which the buyers have been forced to pay for the choicest wools has become a little greater than it was even at the opening of the sales in Melbourne. There were only 3000 bales offered at tho sale i a Geelong, this sale having been moved forward from the date originally set. The wools are described as light? in condition, but containing a heavy propor tion of tender wool and being also rather dusty. The competition was largely from American buyers, who took only the best, and so. withdrawals have been heavy throughout the week, both at Melbourne and at Geelong. The best 70s deep combing wools from the western Victoria district, where the cream of the Australian wools are pro duced, were costing anywhere from $1.17 to $1.22 clean landed basis, figuring ex change at $3.60. Yorkshire, with a railroad strike im pend! a k. In addition to the coal strike, was showing no interest at all, and the continent was taking very little wool. Fair worsted pieces, super 64s. in Melbourne were costing about 75c. clean landed basis, and good 60s and 64m, top making pieces and bellies, were costing from 55c to ttOc . LIGHT INTEKKST IN WHEAT MARKET Xfot Much BunincMS Expected CntU After .Election. There was not much Interest in the grain market yesterday and it is not expected there will be much life to trading until after the election. The country wheat markets were reported very dull. At the Merchants' Exchange all wheat bids were unchanged except hard white, which was S cents higher. The coart-e grains were firmer but quiet. November-lVeember whtte oats. October November brewing barley and November Xocembtr feed barley each advanced 50 c nts on bid. Corn offers were 25c & $ 1 higher. Kollfd oats and rolled barley were ad vanced $1. The weather forecast for the middle west, as wired from Chicago : "Illinois fair and warmer tonight, Sunday unset tled; Missouri cloudy tonight, followed by rain tomorrow; Wisconsin and Minnesota part cloudy tonight and Sunday colder; Iowa increasing cloudiness, followed by rains and colder." According to Argentine cables, the wheat Ci P wns not damaged by frost. London cables said the British still have important wheat stocks and intimated there would be a further delay in British buying. Terminal receipts, in cars, were reported by the Merchants' Exchange as follows: Portland Wheat Barley Flour Oats Hay Saturday Year hjto Total this week.. Yt-ar ago Season to date.. "Year atfo I Tacoma Friday Year ago Season to date. . Year ago Seattle Year ago Season fo date.. Year fcb'o 74 2 7 2 10 36 ... 15 3 3 331 3 IS 7 50 270 1 164 9 27 vj-,7 71 242 218 553 1986 113 1433 - 273 079 22 1 " " 49 7 "i 4 I.-.3.1 30 330 65 358 .'648 54 ... 98 393 6 ... ' 2 6 5 2341 128 290 302 584 ARIZONA GRAPKFRl' IT IS IN MARKET Eastern Cranberries Are Dae in Early Tart of Week. A car of Arizona grapefruit came in yesterday and was put on sale at $7. A ear of Florida grapefruit Is due Monday. Eastern cranberries will be on hand early in the week and wilt sell at the pjrittea aunouaced a few dys ago. Coat cranberries ara firmer in sympathy with the high pries of eastern. The first car of new-crop I. X. I, almonds is on the way to Portland and Its ai-rlvaJ will be followed in a few days by a car of Ne Plus almonds. Hickory nuts and black walnuts will also be quoted In a few days. x ANOTHER DROP IN BUTTER PRICES Market for Prints Will Be Two Cents Lower Monday. Growing weakness in the local butter situation, with more or less price cutting, has led the creameries to announce a 2 cent decline in print prices, effective-Monday morning. Plain wrapped prints will go out at 53 cents and cartons at 54 cents. The buying price of butterfat will also be reduced 2 cents to 51 cents delivered here, or 4647 cents delivered at stations. Eggs are moving upward, as the supply of fresh ranch stock is less than the de mand. Buyers have put out bids of 68 cents for current receipts and 72 cents for henneries. The jobbing price of selects will be advanced by some sellers to 80 cents. There were small arrivals of poultry and dressed meats yesterday and prices were generally steady. Hops Sell Readily at Firm Price. There was another active movement in the Oregon hop market during the week and the small surplus left in the state was reduced several thousand bales. The market holds firm at 40 cents for the best grade. There is still no demand for the cheaper classes of hops. Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearances. Balances. Portland $6,371,620 $1,446,876 Seattle 5,446.678 973.685 Tacoma 554.534 124.705 Spokane 2.228,126 964.104 Clearings of Portland, Seattle and Ta coma for the past week and corresponding weeks in former years were: Portland. Seattle 1020 $38,716.413 $37,905,776 Tacoma. 4,122,104 4.894,849 4.852,614 3, 686, 872 2,198.152 1,954.927 1,889,997 2.300.268 1UI 37,ii04.U; 42.3H,oy !18 38,319.648 1H17 ir,,333.430 lt16 18.84SI.418 1915 Ij.5h3.517 1914 12,inu,12 41.103.0KO 26.975,928 18,784.412 13.245,835 11.197.3117 13.972.771 12.374.540 1913 13.255.6H2 1912 13.112,108 1911 12,774,879 3.817.570 4.516.362 12.487.251 Portland bank clearings for October of this and former years were: 1920 ?1R0,838.789 1919 181.477,797 1918. . ltS5.92S.798 108,442.951 1917 1916 1H15 1914 1913 1912 1911 1910 1UU9 79.605.993 59,997,497 53.715,228 63.727.569 f8.J87,0l2 55,133,193 48,344,509 40,908.548 rORTLASD IUBEIT QUOTATIONS Grain, Floor, Feed, Etc. Merchants' Exchange, noon session. -Bid- Wheat Hard whtte ... Soft white White club .... Hard winter . . Northern spring Red Walla Oats No. 2 white ... No. 2 gray . . . . ISarley Brewing . Standard feed . Millrun Oct. ..$2.05 . . 1.95 . . 2.00 . . 1.95 1.05 . . 1.U0 Nov. Dec. $2.05 1 !I5 2.05 1.95 1.S5 1.90 $2.05 1.95 2.05 1.95 1.95 1.90 46.50 44.00 47.50 . . . .46.50 . . . .47.75 47.00 44.00 47.50 47.00 44.00 47.00 44.08 47.0O 47.00 42.00 42.00 42.50 Com No. 3 E. T. shipment.. .45.00 No. 3 V. dolivery. 45.50 75 00 FLOUR Family patents, $11.40; baker's hard wheat. $11; baker's bluestem pat ents. $10.75: valley, $9.90; whole wheat, $9.80; graham, $9 60. M1LL.KE.KI Prices f. o. b. mill: Mill run, $51 per ton; rolled barley, $5653; rolled oats. $54; scratch feed, $74 per ton. CORN Whole. $57; cracked, $60 pet ton. HAY Buying prices, f. o. b. Portland: Alfalfa,, $22 50 23.50; cheat. $223; clover. $23; valley timothy, $272S; East ern Oregon timothy, $30. Dairy and Country Prodace. BUTTER Cubes, extras, 49C&50C per pound; prints, parchment wrapped, in box lots, 53c per pound; cartons, 54c, half more; butterfat. No. 1, 4647o per lb. at stations; 51c Portland delivery. EGGS Buying price, case count, 65SS5: Jobbing prices to retailers, candled, 72 75c; selects, 77c. CHEESE Tillamook, triplets 28c, f. o. b. Oregon triplets. 26c; Washington triplets, 30c; Young American, 32c. POULTRY Hens, 20fe2Sc: springs. 23 25c; ducks. 2635c: geese. 25c;. turkeys, live. 43'd45c; dressed, 50fji52c. PORK Fancy, 20c per pound. VEAL, Fancy, 20c per pound. Fruits and Vegetables. APPLES Delicious, extra tancy, $3.5 4: fancy. $33.75; combined fancy and choice, $2.75.3.50; orchard run, $3.25; Jonathans, extra fancy. S2.003.50: fancy. $1.50.3.25; choice, $1.502.7ti, orchard run, $2&2.25; Northern Spy. fancy. $2.40 &$3: choice. $2.10(132.60; orchard run. $2.25 & 2.75. Rome Beauty, extra fancy, $3.25 Ci3.50; combined fancy and choice, $2.50 & 3; orchard run, $2.35. Winter Banana, extra fancy, $33.75; fancy, $2.75(3.40; choice. $2.25f3; jumble pack, $2g!2.25; King, orcnaru run, $l.p2. Wagner, or- cl.ard run, wrapped and packed, $1.25 2.75. OTHER FRUITS Oranges, $911 lemons, $5.50 6.25 box.; grapefruit, $5 &lo per box; bananas, 12ft4?13c per pound; casabas. 3gr4c per lb.; grapes, $3. (a 3.75 per crate, 1015c per pound, 35c per basket: pears, $3 per box; huckleber ries, 17:22c per pound;' cranberries. coast, $5.25.5.50 per box; eastern $18.50 fio.ao per barrel. VEGETABLES Cabbage. l2c pound lettuce, $4.50 per crate: cucumbers. 90c per dozen; carrots. $1.7o2.50 per sack; garlic, 25$r30c: tomatoes, $2.25 per lug; beets, $2r2.50 per sack; turnips, $2.50 per sack; egg plant. $2.25 per lb.; cauli flowers. S1.7j(a'j.:. per dozen; celery. 90c per dozen; green peppers. 1012V2C per pound. POTATOES Oresron. $1.6502 per 100 pounds; Yakima, $2.25(32.50; sweet pota toes, 4V2'5Vc per pound. ONIONS Oregon. $1.75J'2 per sack; (jalilornta Drown, per sack; pick' liug, 8 10c per pound. Staple Groceries. Local Jobbing quotations: SUGAR Sack basis: Cane, granulated. ij.fll.ic per pound; beet sugar, 11.80 12.80c per pound. HONEY New. $7.508 per cane. NUTS Walnuts. 24t34e; Brazil nuts. sjc; iiioerts. soc; almonds. 31032c; pea nuts. ll?l&12c; cocoanuts. $2.54) per dozen. KlCu. iue Rose, I1I3C per pound; Jap. an style. -11c per pound. BEANS Small white, 634 c; large whits. one: pink, iic: lima, loftc; bayous, 11c red, SHc per pound. COFFEE Roasted, bulk: drums, 31 4lc per pound: sacked, 223p2, c per pound. &AL1 Granuiated. bales, $3.40& 4.2o; hall ground, ton. 0U3, $19. .; 100s, $18.2a lump rock, ijn.ou. rro visions. Local lobbing quotations: HAMS All sizes, 430 46c: skinned. 42 9 4Sc; picnics. z,c; cottage roil. 3oc LARD Tierce basis. 27 He; snortenlcg, zovc per pound. DRY SALT Short, clear backs. 26030? per pound; plates. 21'c BACON Fancy, 40 56c; standard, 33C 44C er pound. Wool, Cascara, Etc MOHAIR Long staple, 25c per pound; short staple, 15c per pound. TALLOW No. 1, Sc per pound; No. 2, c per pound. CASCARA BARK Per pound, gross weight, old peel, vttc; new peel, 8 Vic per pound. WOOL All grades nominal. HOI'S Oregon. 1920 crop, choice, 4.0c per pound. Oils. LINSEED OIL Raw. barrels, $1.84 drums. $1.41; cases. $1.49. Boiled, barrel, 1 JO. drum?, $1.43; cases, $1.51. TURPENTINE Tanks. $1.81; cases, Sl.M, COAL OIL, Tank wagons and Iron bar rels, Jic: cases, 3047370, FUEL OIL Bulk. $2 35 per barrel GASOLINE Tank wagons and Iron bar rels. 29c; cases. 4ie. Bides and Pelts. All prices nominal, owing to unsettled condition 01 eastern markets. New York Wheat Market. NEW YORK. Oct. 30. Cash No. 2 red an No. 2 hard wheat. $2.34, c. i. f., track export. New York Sugar Market NEW YORK. Oct. 3a Raw sugar quie at -c lor centrifugal. Refined, 1112 xor tine granulated. Cotton Market. NEW TORK, Oct. 3a Cotton Spot quiet. Aiiaaiing, c STOCK CLOSE IRREGULAR MARKET IS FIRM TO STRONG IX H1BLT PART OF SESSION. Sontbern Pacific Aided by Latest Developments in Mexican Situa tion; Rubber Issues Weaker. NEW TORK. Oct. SO. Stocks were firm to strong in the early stages of today's brief session, a moderate Inquiry for the more representative rails, shippings and oils imparting stability to related issues. The last turn of events in the Mexican situation contributed measurably to the strength of Southern Pacific and one of its important subsidiaries. Associated Oil; American Smelting also benefiting for sim ilar reasons. . Further buying of United Fruit at a substantial adWance evidently had its basis in the belief that action bearing upon the dividend is to be taken at next week's meeting of the directors. Steels, equipments and other industrials of the class most often favored by specu lative Interests were more or less neglected, while motor specialties, particularly rubber issues, yielded to pressure induced by ad verse trade conditions. An irregular tone ruled at the close. Sales were 225,000 shares. The clearing house statement was fa vorable In that an Increase of almost $38. 0O0.00O in actual cash reserves effaced last week's large deficit and left an excess of $14,000,000. Another constructive item was the further reduction of actual loans and discounts by almost (62,000,000. a total of about S153,000,o0o In the last fort night. liberty bonds and other active domestic Issues were steady. In the foreign division Mexican 5s were the strong feature, Euro pean Issues showing little alteration. To tal sales, par value, $6,657,000. Old United State, bonds were unchanged on call for the week. CLOSING STOCK: QUOTATIONS. Last Sales. High. Low. 33 134 08 72 95 59 86 99 124 saie. 33 134 08 72 85 60 86 100 124 70 10 50 86 142 112 44 69 15 26 125 40 83 66 41 El 37 20 82 124 34 17 l.'iS 17 86 74 83 42 70 17 65 24 American Can ioo 33 Am Car & Fdy loo 134 ",i 5S vs 72 85 60 86 100 15 74 ' 70 10 50 87 143 11314 44 70'4 154 26 12314 50 84 60 41 tm 81 37 Vi 26 82 124 36 '4 17"i 139 1, 17', 86 -t 93 42 4 70 ' 17 65 24 1 05 192 A 19 144 37 27 1114 81 32 99 SS14 4 89 43 36 14 96 76 72 50 32 102 30 105 57 51 26 65 12 125 83 7214 75 88 108 58 90 40 10 Am H & L Pfd 3O0 Am Inte Corp 4O0 American Loco 00O Am Smt it'Rig l.SUO Am Sum Tob 20O Am Tel & Tel 200 Am Tob Sec 4M Amerl Woolen feiw) Am Z L & S 600 Anaconda Cop 1.2WO Atchison 800 Atl G & W In 200 Baldwin Loco 4,300 Bulti & Ohio 800 Bethle Steel B . 2,4oO But & Sup Cop 10O Cal Petroleum 200 Canadian Pacif 3,600 Centrl Leather 800 Chandler Mtrs 4oo Ches & Ohio 4M) Chi Mil 4 St P l.OOO Chi go & N W 1O0 Chi R I St. Pao 1,000 Chino Copper.. 5O0 70 10 00 86 142 112 44 69 15 26 124 40 S3 66 41 81 36 26 82 123 34 17 13S 16 ' 80 93 42 70 17 64 24 105 190 19 14 37 20 11 80 32 99 87 4 8S 43 34 14 P5 76 71 49 31 101 30 105 57 51 25 65 11 124 82 72 71 87 108 58 8S 46 8 Corn Products 404) Crucible Steel 400 uba Cane Sug 200 Erie 1.200 Generl Electric 6O0 General Motors 3,700 Gt North Pfd 800 lilnois Central 300 nFPir Copper. 1.2O0 nt Me Ma Pfd 600 nterna Nickel oOO nterna Paper 500 Kan Cty South 3oO Louis & Nash 100 10.-. 190 19 14 37 M Mex Petroleum 4.300 Miami Copper . IOO Mia states Gil i.iuhi Midvale Steel 4oO Missouri Pacif 200 Nevada Copper 200 26 11 80 32 99 87 4 88 43 34 14 .". 76 71 49 Vi 32 102 30 lo3 57 51 25 65 11 125 82 72 71 88 1MS 58 90 46 8 New York Cen 2.S00 Y N H & H 6110 Nor & Western loo Northern Pac tKM Ok Prd & Rfg 1O0 Pan-Am Petrol z.;ihi Pennsylvania.. 3.0110 Pitts & W V'a 2.400 Ray Con Cop 200 Rending 1,-00 Rep Ir & Steel 1.200 Roval D N Y 14.50 Shell Tr & Td 400 Sin Oil & Rfg 2.600 Southern Pacif 23.800 Southern Rwy 3,600 O N J Ptd zo tuilebak Corp 3 200 Texas company Texas & Pacif 2,200 800 2O0 R(0 2.700 300 l.OOO Tobacco Prats Transcontl Oil Union Pacific S Ind Alco II S Rtl Stores S Rubber. . 1 00 S Steel. 4.100 S Steel Pfd 3tO 2O0 300 IOO 1.200 'tali Copper. . Western Union West Electric Willys-overld. BONDS. rr s T.lh SVts 03.3SIA T4TCT 6s. do 1st is Bv oitiAicn gen h. . . . iif-js do 2d 4s SS.00 D & R G con 4s.66 do 1ft 4s. . .89.88'N Y C deb 6s.. 92 V do 2d 4s. ..88.56N P 4s 78 do 3d 4s 90.42 N P 3s 86 tin 4th 4Ws 88.04iPae T & T 5s..H5 Victory 3s ...9G.14;Pa con 4s.... 89 do 454s tr cv OS.. 103 U S 2s reg "lOlSo Ry 5s.. 90 8 93 do coupon ..-101 r is .... U S 4s reg 105iU S Steel 5s do coupon .."lou'A Pan 3s reg 78 do coupon ...td Bid. Mining Stocks at Boston. BOSTON, Oct. 80. Closing quotation?: Allouez 23 Old Dom '22 Ariz Com 1 Osceola -i Calu & Afiz 53 Quincy 41 Calu & Hecla. Centennial Cop Range . . Superior ...... Sup & Boston. . .Shannon 4 1 4 25 10H 27 9 East uutte . . i) Hjtirtah Con Kranklin Isle Koyalle . . . . J '4 in on a ....... ..23 (Wolverine .... 2rlUreene Can .. 14 ! Luke Copper North Butte Money, Silver, Etc. NEW TORK, Oct. 30. Prime mercantile paper unchanged. Bar silver uomesuc uncnangea; loreign 80; Mexican dollars unchanged. LONDON, Oct. 30. Bar silver B24d per ounoe. Money ana discount uncnangea. CAPITAL ISSUES READILY ABSORBED Seventx-five Millions Are Placed Durine the Past "Week. NEW YORK, Oct. 30. Widely divergent courses were pursued ty the financial mar kets this week, many shares oi the specu lative variety giving way to further liqui dation and professional pressure, while ad ditional capital issues were confidently ab sorbed by investors. Latest underwriting emoracea transpor tation, industrial and utility projects and approximated ?73, 000,000. Other loans for fully double that amount, including credits to South America, Cuba and several Euro pean countries are said to be in prospect. Movements or ioreign exchange were wholly in favor of thl country. I ools in certain stocks made tentative 7-25 WE OWN Province of ONTARIO 3 YEAR 6 GOLD BONDS AT 96.53 TO YIELD 7-25 Due Oct., 1923 WIRE ORDERS COLLECT CLARK, KENDALL & CO., Inc. 5th and Stark Streets efforts at the ontset of the week to pro mote a pre-election advance, but such attempts were nullified by the firmer tone , of money and the detached attitude of the j public. I Shorts seized upon these adverse condl- 1 tlons as a reason for extending their already , large commitments, concentrating in lead? j ing Industrials, particularly steels and eoulpmenta. Ralls also were sold, prob ably because of disappointing September earnings, but some of the transcontinental, notably Southern Pacific, were active and strong. Outstanding features of the Industrial situation Included the favorable quarterly statements of the United States Steel and Bethlehem Steel companies, a sharp. decline m pig iron prices and production and the position of labor as Indicated by the volun tary acceptance of lower wage scales. CAE 1" RESERVES IS SHOWN. Increase of Ten Millions for Week Reported by f ederal Board. WASHINGTON Oct. 80. The condition of the 12 federal reserve banks at . the close of business October 29 was as fol lows: RESOURCES. Gold and gold certificates $ 164,849,000 Gold settlement fund federal reserve board 416,163,000 Gold with foreign agencies.. 74.6S6.0O0 Total gold held by banks.. $ 655,698,000 uoia witn leueral reserve agents .$1,175,118,000 Gold redemption fund.... Total gold reserves Legal tender silver notes. 172,504,000 .$2,003,320,000 .$ 164.718,000 Total reserves Bills discounted secured bv U68.038.000 government war obligations $l,2O3,M5,000 Bills discounted, all others .. 1,597,392,000 Bills bought in open market.. 298.137,000 Total bills on hand $3,099,672,000 U. S. government bonds $ 26,868,000 U. S. Victory notes 69.000 U. S. certificates of lndebted- Z69.434.000 Total earnings assets $3,396,043,000 Bank premises $ 15,993,000 Uncollected items and other deductions from gross de posits 742,976,000 Five per cent redemption fund against federal reserve bank notes 12.S54.O00 All other resources 5.703.000 Total resources $6,341,607,000 LIABILITIES. Capital paid In 97.753,000 Surplus 164,745.000 Government deposits 18,754,000 Due to members reserve ac- count 1.805,661,000 Deferred availability items.. 671,807.000 Other deposits, including for- eign government credits.. 21.307,000 Total gross deposits $2,417,529,000 Federal reFerve notes in ac- tual circulation 3,351,303,000 Federal reserve bank notes - in actual circulation, net ' ' ' ' liability 214.961.000 All other liabilities 95,316.000 Total liabilltie $6,341,607,000 Ratio of total reserves to net deposit and federal reserve note liabilities combined. 43.1 per cent. Ratio of gold reserves to federal reserve notes In circulation after setting aside 35 per cent against deposit liabilities, 47.2 per cent. Foreign Bonds. Furnished by Overbeck & Cooke Co. of Portland. , Bid. Ask. 24 21 27 130 56 45 64 26 S42 . 330 304 304 .255 64 70 - 14 13 14 14 16 16 15 17 17 57 74 74 95 98 95 90 87 Russian 5s. 1921 Russian 5s, 1926 Russian 6s. 1919 22 ... f! ...24 . . .120 . .. 54 ... 43 . .. 62 ... 25 . . . 330 ...320 .. .229 . . .295 . . .250 . . - 62 ...'68 ... 12 .. . 12 ... 14 ... 13 . . . 15 ... 15 ... 14 ... 16 ... 16 . . . 57 ... 74 ... 74 ... 94 ... 98 ... 94 ...90 ... 87 Currency French 5s. 1931 French 4s, 1917 French 5s. 1920 Italian 5s. 1918 British 5s, 1922 ... British 5s, 1927 British 5s, 1929 British vky 4s ...... British ref 4s...... Belgium rest fis .... Belgium prem 5s .. German W. L. 5s . Berlin 4s Hamburg 4s Hamburg 4s .... Leipsig 4s Leipsig 5s Munich 4s Munich 5s ........ Frankfort 4s Jap 4s Jap 1st 4s Jap 2d 4s Paris 6s U. K. 5U-S, 1921 ... U. K. 5s. 1922 ... U. K. 5s, 1929 ... U. K. 5s, 1037 ... Foreign Exchange Rates. Foreign exchange rates at clbsn of busi ness yesterday, furnished by Northwestern National bank of Portland. The amount quoted Is the equivalent in United States dollars. Country and fqrelgn unit Ttate. Austria, kronen (V1' Belgium, francs Rulearia. leva 0120 Czecho-Slovakia. kronen Ol 17 Denmark, kroner .1355 England, pound sterling 3.4.J0 Finland, finmark JTrH- France, francs P., Germany, marks - Greece, drachmas Holland, guilders SO.iO Hungarv. kronen O0-4 Italy, lire J:J- Jugo-Slavia. kronen Ono Norway, kroner P;,J Poland. Polish marks vj Portugal, escudos Roumanla. lei 0 Serbia, dinnra rV Spain, pesetas - Sweden. kroner 2' ? Gt t -narln nri frflnfa . 1 5 3 China Hongkong, local currency... .ro Shanghai, taels j'J Japan, yen ol-o NEW TORK, Oct. 30. Exchange weak. Sterling, demand $3.43. cables $3.44'; francs, demand, fi.21, cables 6.31; Belgian francs, demand 6.07. cables 6.ttH; guilders, demand 30.35, cables 30.45; lire, demand 3 70. cables 3.72; marks, demand 1.29, cables 1.30; Greece, demand 9.50. New York exchange on Montreal 944 Pr cent discount. Swift & Co. Stocks. Closing prices of Swift & Co. stocks at Chicago were reported by Overbeck & Cooke Co. of Portland as follows: Swift & Co ios Swift International 8 Libby, McNeil & Libby 12 National Leather 0 Excess Reserves Are Held. NEW YORK, Oct. 80. The actual con dition of clearing house banks and trust companies for the week shows that they hold 13. 995,000 reserve In excess of legal requirements. This is an increase of $37, 972,270 from jast week. London Exchange Will Close. LONDON, Oct. 30. The etock exchange here will be closed November 1, a bank holiday. FLCBRT IX COFFEE" FUTCRES. Advance of One Hundred Points Over Previous Iay. . NEW TORK, Oct. 30. Tha market for coffee futures furnished a sensation today in the shape of an advance of more than a cent a pound. An opening advance of no to 7? points, in sympathy with pro- .50. AND OFFER Province of MANITOBA 10 YEAR 4 GOLD BONDS AT 76.09 TO YIELD 7-50 Due June, 1930 Portland, Or. ... New Issue We own and offer the unsold portion of $252,000 , Gity of Casper WYOMING 6 Bonds DATED September 1, 1920 Principal and semi-annual Interest (March 1 and September 1). pay able at the office of the City Treasurer, Casper, VVyo, or through tha offices of Freeman Smith & Camp Co. ' Denomination $500 field about 7.51 7.00 6.75 6.62 6.53 $28,000 September 28,000 28,000 28.000 28,000 1922 1923 1924 1925 1926 Population, 1920 Legality approved by Teal Minor & Winfree, Portland. Oreson. Ex empt from all. federal Income taxes. Legal Investment for Oregon .savings banks. Price 9750 and accrued lnt eBt for any m lty, to yield . Income, tax exempt. Wire orders "collect." Cash or partial payment c plan. Ask for circular O 78. Second FLOOfCp , Main 64-6 NORTHWESTERN BANK BLDG. nounced strength in the Brazilian mar kets, was quickly followed by support from a number of important sources whicto gained headway as the morning pro gressed. Towards the close the buying had become quite general and prices were up fully 1O0 points over the previous night. Much of the demand was based on a cable to the local trade saying it was believed that the Brazilian loan bad passed .and advising purchases here. Large interests which recently liquidated are believed to have entered the market and there was also heavy buying of con tracts against a big sale of spot coffee to' the navy department. The advance car ried December to 8.25c. March to 8.92c and May to 9.25c, the close being strong at a net advance of 98 to 101 points. Decem ber 8.23c, January 8.46c, March 8.93c. May 9.25c. July 9.55c. Spot coffee quiet but firm; Rio 7s 8ttc, Santos 4s 11 llc. Eastern Dairy Produce. CHICAGO, Oct. 30. Butter higher. Creamery, 40 6c. . Eggs unchanged.' Receipts 745 cases. NEW TORK. Oct. 30. Butter firm, un changed. Eggs firmer. Fresh gathered extra firsts, 70iW72c; do firsts, 65GSc. Cheese irregular, unchanged. Naval Stores. SAVANNAH, Ga., Oct. SO. Turpentine firm. $1.21-. Sales, 116: receipts, 275; shipments, 35; stock, 21.304. Rosin firm. Sales, 325; receipts, 686; shipments, 125; stock, 56,087. Quote: B, D. E, F, G, H. I, K, M, $11.35; N. WG, WW, $11.40. Columbia Paving Xearly Complete. SALEM. Or., Oct. 30. (Special.) Paving? of the entire Columbia high way between Portland and Astoria will be completed next Thursday, ac cording to announcement made by the state highway departr-ent. The last stretch of unpaved rcd, covering a distance of about 7000 feet is now being paved, and will be opened to traffic next week. This road, is lo cated in the vicinity of "Wauna. THE TEN ' T AVI TTVT 1 neom iMTJM PlL.ll i Month PLAN. by Month Are Railroad Stocks Selling Too High? Eftrer since the ' Increased freight rates went Into effect, the rails listed on the New Torlc Stock Exchange have been advancing, and many people are wondering how much further they will go. This la an interesting ques tion, and its answer is goy erned by thex ability, of the roads as a whole to' operate profitably under existing con ditions. And the outlook in this connection is summed up in an article appearing, In our Market Review In addition to covering the railroad situation, the current lFiie of this publication, which will be sent free upon reouest, contains a complete analysis of the following roads: Pittsburgh & West Virginia St. Louis-San Francisco Chesapeake & Ohio Southern Railway Great Northern . Union Pacific Ask. for:PC-54 E. til. Fuller & Co. Mambsrast CenMlMatsd IMosk Jussaac af X. T. SO Bread St., New York. Nw York Nswuk Osteltaci (Jaiesc tDirgct rVfpsf Wirmt' We Buy Gold, Silver, Etc. We pay high prices ftr high grade gold or silver ores, amalgam, concen trates, bullion, retort, etc. Ship to us by mail or express in any amount or quantity. Oash sent you by re turn maiL We also buy diamonds, platinum, new -or - broken Jewelry, watches, false teeth. Liberty Bonds, War Stamps, mercury, magneto points and all valuables. Goods returned within ten days If you are not satis fied with the amount we send you, except when refining must be done to determine the value. Ship us now while the high prices are prevailing. Small and large shipments solicited. The Ohio Smelting & Refining Co., Ti Lennox Ding., (jieveiana, unio Bank references. Adv. ' MATURE Serially Yield about 6.46 6.41 6.38 6.35 $28,000 September 28,000 28,000 " 28,000 " 1927 1928 1929 1930 Census, 11,447 fi.35 to 7-51 ibout J m a hown above. 7 Per Cent and Profit ' Possibilities oh the purchase of ONDS , ' of leading; industrial corpora tions, carrying convertible privilege that may prove of great value aa in the case of Am. TeL & Tel. Cony. 6s 1925 selling at 96 to return 7 per cent with privilege of convert ing into stock at $100 per share up to August 1, 1925. During past five years stock sold as high as 13Vj. Purchase may be made on first payment of $100. Balance in convenient monthly pay ments. Daeripitv cats en ins assvs mnd nnnwrous other iitu$ sn mpen request for circular OGrt4 No obligation in writing, CharlesH. Clarkson&Co 66 Broadway New York Telephones Rector 4663-4 Knowledge vs. Guesswork This office gives valuable ad Vice respecting improvements in fire risks, rate reductions and the formulation of forms that constitute broad protection. John Schibel Insurance Broker and Adviser Wilcox Bldg. Main 8020 We Maintain a Complete Department in Unlisted Securities If you are in doubt as to the market value or standing of any company, we will supply the information. We have for sale 5 Portland Gas 8c Coke pfd. $97.00 60 American Lifeograph . . . . 17.50 SOOO Alaska Petroleum & Coal . .13 8000 Kilham Co., 7, 1023.... Bid 20 Cremona Phonograph. . . . Bid 50 Pacific Power & Light, 7 Pfd Bid 2000 2-4 s Liberties Market lOOO 3-4 a Liberties Market 1500 4-4Ha Liberties Market 1500 Victory 4s Market WANTED Portland Railway, Light A Power, com. and pfd. New World Life Insurance Co. Pacific States Fire. liERRINsRrl0DESiN6. , ESTABLISHED IS9. STOCKSand BONDS.; Rail war Exchange Blfts. Main 83 Members Chicago Board of Trade He Wants a Job Have you an opening1 for a young man 31 who has been educated at high school and at college; who is a first-class correspondent; who is a gradu ate of the I. C. S. Course in Com- Elete Advertising, and who has ad varied office experience. He is looking for a connection with the advertising department of a growing concern. His name is Edwin H. Wood, and If you'll drop a line to 319 Crest Hotel, Spokane, you can get particulars. j Exempt From All Dominion Government Tax Select Canadian Issues Yielding 734 to 9 Province of ONTARIO 6 General ObUcatton Bonds Price 96.68 Yield 7.25 rated Oct. 1. 1920. Du Oct. 1. 1923. Denomination S1O00. CITY OF EDMONTON Province of Alberta 6 GENERAL OBLIGATION GOLD NOTES Dated September 1. 1920. Due September 1. 192; Price 94.82 To Yield 9 Denominations 100. $500 and (1000 Principal and semi-annual interest payable in U. S. Gold Coin in New York City and at the offices of Morris Brothers, Inc. MORRIS BROTHERS, Inc. "The Premier Municipal Bond House.' Portland. Or. Morris Bulldlnr. 809-11 Stark. BnNulwsJ 215L. Other Offices at Seattle. Tacoma. Wash., and ban .Francisco. Cal. Established Over a Quarter Century j Telephone or Telegraph inniimtnitnii BOND The expectation of lower interest rates and higher bond prices is warranted by declining prices in the commodity market. During the past few weeks there have been some advances, but prices are still near the lowest point in forty-five years. We strongly recommend the purchase of high-grade bonds at this time. For your consideration we submit: $75,000 Prov. of Ontario 6s Oct. 1, 1923 96.68 7.25 $20,000 Prov. of British CoL 6s... Oct. 25, 1923 96.55 7.30 $20,000 Anaconda Copper 7s Jan. 1, 1929 96.25 7.60 $10,000 Carnation Milk Co. 7s.... May 1, 1925 97.00 7.75 $15,900 Seai;, Roebuck Co. 7s Oct. 15, 1921 99.20 7.85 $ 4,200 Sears, Roebuck Co. 7s Oct. 15, 1923 98.41 7.60 BiYTH, Witter. & Co. UNITED S3ATES GOVERMEHT MUNIdPAL AMD C0RPORAIIOIT BONDS " Yeon Building ; Portland, Oregon Telephone, Main 8183 . San Francisco Seattle New York Los Angeles Providence of Ontario Prov. of Manitoba Prov. of B.C. We offer subject' to prior sale the following Canadian Bonds in denominations of $1000 each: &ntgn.tar:...96.50 -id 7.30 94.25 id 7.40 rlHonds.. 98.00 to yield 7.50 Principal and interest payable in U. S. Gold Coin in New York City. BOND & GOODWIN U. S. National Bank Bldg. Telephone Broadway 3171 PORTLAND BOSTOJf. NEW TORK. CHICAGO. MTVJTKAPOT.IS. SAN FRANCISCO. 1A8 AN6ELKS. P1IH.AOKI-PH1A. I'lTTMH RG. KANSAS C1TV. ATLANTA. OA.. SEATTLE. OVERBECK & COOKE CO. Brokers. Storks. Bonds. Cotton, Orain. tc. I1S-J17 BOARD OF TRADE BLDG. MEMBERS CHICAGO BOARD OF TRADE. MEMBERS Correspondents of I.onran A Bryan. Chftcajco and New York. New York Stock Exchange. Chicago Stock Exchange. Boston Stork Exrhanee. 'Chicago Board of Trade. New York Cotton Exchange. New Orleans Cotton Exchange. New York Coffee Exchange. New York Produce Exchange. Liverpool Cotton Association. Province of BRITISH COLUMBIA 6 General Obllaarloa Bonds Price 96.55 Yield 7.30 Dated Oct. 25. 1920. Due Oct. 25. 1923. Denominations S500 and S1000. Canltal One Million Dollars Orders at Our Expense PRICES WE OFFER A COMPLETE SERVICE In Designing and Building Commercial and Industrial BUILDINGS ERTZ & WEGMAN GENERAL CONTRACTORS, 651 l'lTTOCK. UL.iL. aj High mnd Low Prices, Complete Data. The Investor's Pocket Manual 272-Page Booklet. Issued Monthly. Will be furnished Free by -anr Invest ment banker or broker to any investor or. application; C R for 80c current copy will be sent by Financial Press, 11 Broad St., New Yortf City. t