23
THE SUNDAY OTIEGONTAN, PORTLAND, NOVEMBER 1920
SIXTY CENTS DECLINE
IN FLU MARKET
Lower Prices Will Go Into
Effect Monday Morning.
WHEAT DROP REFLECTED
mvu, large, extra, fancy, at 12. Takima
valley Jonathans, extra fancy, medium to
large. 13.30, fancy J 2. 00; Ark. Blacks, ex
tra fancy, medium to large, 12.15, fancy
$1.00; Delicious, medium to large extra
fancy 2.0i, fancy $2.43 & 2.50. Other dis
tricts, Homes extra fancy large 2,10.
LIVESTOCK. IS STEADY AX CLOSE
the
12.0
12.20
.... 11.80
.... 11.40
.... 11.00
.... 10.40
en4 d
has been
Family Patents Will Be Quoted at
$10.40 Per Barrel; Millrun
Is Also Reduced.
A 00 -cent drop in flour prices will take
effect Monday morning, local mills an
Bounced yesterday. The best family pat
ents will be listed at I1O.40, valley flour at
I&.T5 and straights at $8.50. Bakers' flour
Will drop to 10 a barrel.
The flour decline comes as a result ef
Che steady fall in wheat values. The new
Quotation represents a drop of $3.35 a
barrel from the high flour point of the
year. The course of the market Is shown
KB the following table:
If ay T llfl.TU
August 2 12.0S
eeptemoer 23
October 4
October 8 ...
October 23 ....................
ajo vember 9
Sovember 15
eVfLHfeeo. generally is weak
lining. The price ef miHrun
at to $-i5 a ton. f, e, b. mill.
There were no new developments In the
srheat situation in the northwest. Buyers
were not Inclined to Operate, and holders
sa the country were not pressing sales.
Bid prices posted at the Merchants' Ex
bange were the same as Friday, $1.95 for
bard white. $1.50 for other white grades,
and 11.47 for red.
The feed grain market remained quiet.
Offers for oats were the same as the day
Before and corn was also unchanged. De
eember brewing barley and November feed
barley were each down SO cents.
Terminal receipts, in cars, were reported
nor the Merchants' Exchange as follows:
Wheat. Barley.-Flour.Oats.HaT.
PorttandV
Saturday ....... 41
Year ago 26
Total this week. 101
Year ago 222
Season to date.. 0713
Year ago 4449
Tacoma
JYIday IB
Year ago 20
Season to date. .2T10
Year ago 83
MODERATE DEMAND FOR TTJBKXY9
Cash Buyers Send One Price of 42 Cents
to Country Shippers.
A few shipments of dressed turkeys were
received on the street yesterday. Some of
them were taken by the local trade and
others shipped out. Most sales were made
at 47 cents. Cash buyers have sent bids
Into the country of 42 cents and they be
lieve this price will hold during the ship
ping season.
There was but little Inquiry for live
turkeys, but other live poultry sold well
at steady prices.
Country dressed veal was weak with lit
tle demand. Fork was steady, and un
changed. Dank Clearings.
Sank clearings of the northwestern
cities yesterday were as follows:
Clearings.
Portland f.s, 043,400
Seattle b, 210.24a
Tacoma 1,541,164
Spokane 2,4S3,Sii2
Clearings of Portland, Seattle
8 1 19
S 6
42 6 64
1B4 22 32
81 322 231 7U8
113 1743 307 747
... 12
... 3
S3 . 332 60 401
.'." .... 1O0 432
. v
fo Trading om Last Day of Week at
Local lards.
There was no trading at the close of
the week at the local stockyards. Prices
In all linea were, therefore, nominal and
the market, so far as the general feeling
was concerned, was steady.
.Receipts were 47 cattle. 2' calves. 200
hogs and 2518 sheep.
The following are livestock quotations at
the Portland Union stockyards:
noice grass steers t
Gooa to cuuica steers. .......
MeUlUm tO 1COO1 Jilrr,
Fair to goou steers ...........
Common to lair steers .......
Choice cows and heifers ......
iooa io cnoice cows, heifers. .
Meaium to good, cows, heiters.
Canuers ...........
Bulls
Choice dairy calves ......
Prime ligm calves
Meuiium light oaives .....
Heavy caives ...........
Best itteoers ............
Hogs
Prima mixed ............
Smooth mixed
Kuugb heavy
at pigs
Feeder pigs
&ueep
East-of-mountaln lambs .
Valley lambs
Feeder lambs
Cull lambs
Yearlings
Wethers ......
Ewe
8.250 9.00
tt.&a 7.25
5.70 1 t.2;
O.UOiir 5.75
t.2os ti.75
o.2o w tt 25
4.25(y 5.25
2.50ui 3.25
5.UUW O.U0
13.0luia.UO
ll.OOIOil2.UO
y.vu vii.ou
T.UO0 U.OO
ti.75V 7.25
14 60 15.00
14. ooifli 14.50
lO.OOlu) 13.25
12.1MJM.14 tHJ
11. OOW 13.50
8.504K 10.00
8.5U .O0
B.OOW 8.50
cootie ti.oo
Wtf 7.50
B.OOI0 0 60
2.2J .O0
Sixty Million Salmon Pack.
The 1920 salmon pack of Alaska, British
Columbia. Pugot sound and the Columbia
river section will total 6,055,000 cases
valued at approximately (00,000,000, ac
cording to revised statistics. The Alaska
pack accounts for 4.225.000 oases, .nrt
British Columbia Is expected to aggregate
ouu.vw cases, an increase over last year;
whereas the Alaska pack shows a decrease.
PORTLAND MARKET QUOTATIONS
Grain, Flour, Feed, Etc.
Merchants' Exchange, noon session:
Wheat
Hard white .........
Soft white ...........
White club
Hard winter
Northern spring
Red WaJla "...
Oats
No. 2 whits ...
No. 2 gray ..........
Barley
Brewing
Standard feed
Millrun
Corn"
No. 3 B. T. shipment.
No. It E. delivery....
Nov.
...SI. 55
... 1.50
... 1.50
.... 1.50
... 1.50
... 1.47
...45.00
. ..43.00
.44.00
.44.00
.41.00
.41.00
Dee.
J1.55
1.50
1.50
1.50
1.50
1.47
45.00
44.0O
45.00
44.00
40.00
49.00
Balances.
tl. 701,561
722.07-3
152.45
703,111
and Ta
coma for the past week and corresponding
wees, m tormer years were:
Portland.
...:i5.&,057
FLOUR Family patents, $10.40; bakers'
u.iu nci, oaxers- Dluestem pat
ents, 110; valley. 3.75; straights, $4.50;
jaiL.i.i't.iiiJ r-rices f. o. b. mill: Mill
run, $45 per ton; , rolled barley. $34 4(56:
"" u ftfo. KnicD xeea sl per ton.
CORN Whole, $53; cracked. (56 per ton.
HAT Bn,.nir prices, f. o h Pnrtianrf.
Alfalfa. (22.5023.50 per toa: cheat. (22i
23. clover. $23; valley timothy. $27 0 28:
Eastern Oregon timothy, (30.
Dairy and Country Produce.
BUTTER Oubes extras. 50051c ner lb.:
prints, parchment wrapped, in box lots,
59c per pound; cartons, 60c. half more;
butterfat, buying price, 5354o per pound
at stations; 57c Portland delivery.
HNUa Buying price, case count, 70c;
pullets. 60c: lobbinz Drices to retaile,.
candled, 77 80c; selects. 82c.
CHBESa Tillamook, triplets, 20e t. o. b
Tillamook, lobbing prices, Oregon triplets.
29c; Washington triplets, 80c; Young Amor,
leas, 82 4p33o.
POULTRY Hens. 210l3oe: inrlnri 25e:
ducks. 25 330: aeese. 25c: turkeys, live.
35c; dressed 47c.
PORK Fancy, 21c per pound.
VJ3AA, Fancy, 1920c per pound.
1820
1919
1U18
1S17
1918
1015
1914
1913
Itfli
1U
88.555. 2ti9
2U,9'.2,757
22.999,578
18,121,133
11,4:19.647
10,620,618
12,9S2J5
12,815,611
11,439,755
Seattle.
$34,704,324
41,904,947
37,010. 2O0
28.852,4U4
22,924,498
13,101,265
11,589,963
W, 778.393
12.6ll.90S
10,062,447
Tacoma.
I4,7T4,Oa5
4,963.125
6.158.337
4. 636. 860
2.748.42S
2.028.177
2.007.260
2.357,396
4,467,648
4.309.504
WALNUT CROP UNDER ESTIMATES
California Yield 11,000,000 Pounds Below
September Prediction.
That the light tonnage of this year's
walnut crop does not. Justify the prevail
ing low prices which the public has been
taking advantage of since the walnut
harvest began is the opinion of Carlyle
Thorpe, general manager of the Cali
fornia Walnut Growers' association.
Mr. Thorpe says the walnut grower
knew In September that the 1920 produc
tion was far below normal aad they had
the courage to slash prices heavily, de-
spite the fact that they sold last year's
enormous crop with ease at figures 3Q per
cent higher. Now it has been discovered
that the new crop is fully 22 per cent
lighter than was expected when harvest
commenced, and the consumer is going to
set the benefit of low prices for a short
crop, when, according to the rules of
marketing, the condition should be abso
lutely the reverse.
With 90 per cent of the new crop gath
ered and 65 per cent of it shipped, the
association finds that the production will
be at least 11,000,000 pounds less than
Its September estimate, upon which open
ing prices for the crop were based. General
Manager Thorpe advises the trade that
future deliveries on No. 2s will have to be
prorated on a 40 per cent basis.
ADVANCE IN BUTTER ANNOUNCED,
Prints Will Be Three Cents Higher Moo
day Eggs Very Firm.
Butter prices, as expected, will be higher
$Ionday. A 3-cent advance in prints was
announced by the city creameries and the
buying price of butter fat will also be
raised 3 cents. Prints in box lots will sell
at bit cents and cartons at 60 cents, iiut
ter fat will be bought at 57 cents delivered
Portland.
There was an active demand for cube
butter yesterday in anticipation of the rise.
Street stocks were closely cleaned up and
p-.ucb. short held storage butter was also
taken over.
The egg market la In a firm position for
all gif des. Fresh ranch eggs are abou:
aft scarce as they will be this yea and
canulet and hennery ega bring full proves.
Storage eggs were advanced to 60 cents to
the retailer for No. Is. May and June
tgey sell' for 2 or 3 cents under this price.
FARMERS' POTATO OFFERINGS SMALL
Local Market Is Firm With Good Jobbing
Demand.
Farmers' offerings of potatoes were
mall yesterday and with a good local de
mand ''prices were firm. Jobbers asked (2
for the best Burbanka and (2.50 for Yaki
ma Gems. Up to (1.50 was bid In the
country for No, 1 Burbanka.
The government bureau of crop esti
mates, in figuring the United States po
tato crop at 421,252,000 bushels, gives the
following estimates of production in the
largest potato growing states:
Bushels.
2.124, OOO
83,812.000
11,990.000
, 41.750.000
312,118.000
10,088,000
27,715.000
27.918.00O
jj. : ii.i80.uuo
STOCK SALES RESUMED
POPUIiAR ISSUES REGISTER
5fEW LOW QUOTATIONS.
Morement Xot Altogether Dae to
Bear Pressure Bonds Heavy
and Liberties React.
NEW TORK, Nov. 13. The short ses
sion of the stock market today was char
acterized by continuance of the recent
heavy selling movement, many popular Is
sues registering new lows for the year, is
some cases a much longer period.
Prices reacted for the long account
again, giving the bears a free hand. Not
all of the -day's selling was of that sort,
however, signs of more involuntary liqui
dation being observed. Extreme (declines
of two to five points in the more volatile
issues were effected with little difficulty.
Kails and shipping were relatively ' steady
for a time, but even those shares, includ
ing Southern Pacific and Reading, broke
sharply at the weak close. Sales were
700,000 shares.
Week-end advices regarding industrial
and commercial conditions gave impetus
to the market's extended reaction. The
commercial agencies made pointed allu
sion to the rapidity with which "price re
adjustments" are proceeding, this being
confirmed by drastic cuts in the Chicago
markets.
Advices from New England, the middle
west and the south told of further cur
tailment In the textile Industry and of
acceptance of a 25 per cent wage reduc
tion by the mill hands of a large cotton
company in Virginia.
The clearing house statement was de
cidedly favorable, actual loans and dis
counts decreasing almost $48,000,000 and
reserves of members at the federal re
serve bank Increasing to the extent ef
(30,770,000, with a gain of about (33,500,
000 In reserves, bringing the excess to
slightly over $32,000,000, as against last
week's deficit.
Bonds were heavy, all the liberty tssnes
reacting on free offerings. Total sales, par
value, (g,12.1.OO0. Old United States bonds
were unchanged on call during the week.
Sales.
Am Beet Sugar 1.600
American Can 3.000
Am Car & Fdy 3,90
Am HAL Pfd.l.loo
Am Inter Corp 7.70O
American Loco
Am Smt A Rfg
Amerioan Sug
Am Sum Tob
Am Tel A Tel
Ameri Woolen
Am Z L. & S
Anaconda Cop
Atchison
Atl Gf & W In
Baldwin
Balti &
Bethle Steel B
But & Sup Oop
Cal Petroleum
Canadian Pact
Centrl Leather
Chandler Mtrs
Ches & Ohio
Chi Mil ft St P
Chic' go & N W
5,500
2.300
2.404
1,400
1,600
4,800
300
5. OOO
4.900
3. 600
Loco 2S.700
Ohio 12,700
5,300
7WJ
100
4.T00
8, BOO
3.5110
7,200
7.70O
Fruits and Vegetables.
APPLES Delicious, extra finer. S3.50
94; fancy. S3&3.76: combined fancy and
choice. (2.75 62)2-50: orcliurd run. S3. 25:
Jonathans, extra fancy, $23; choice,
$1.50s2; orchard run, $1.6041 2; Northern
Kpy, fancy. $2.40 orcnard run, $2
til 2. i5; Home Beamy, extra fancy, $3.25
ts3.50; combined fancy and choice, (2.504?
orchard run, $2.3o; Winter Banana,
extra fancy, (33.76; fancy, (3.7340;
choice. (2.25 0 3.OO; Jumble pack, $2,000
.Je; .Ring, orchard run, $Lio(p2; Wag
ner, orchard run, wrapped and packed,
$1.25y2.7s.
OTHER FRUITS Oranges. $3 11; lem
ons, $-5s6 box; grapefruit, $6.5Omi9.50 per
box; bananas, 12fe13Hc per pound;
casabas, 3l&4o per pound; crapes, $ai3.23
per crate, 10fti.l5c per pound: pears, $30i
3.25 per box; huckleberries, 18 4? 22c per
pound; cranberries, coast, $0.500 per bix;
eastern, $1818.50 per barrel.
VEU&TABLES Cabbage, 1 '92110 per
pound; lettuce. $4 per crate: cucum
bers, $1&2 per dozen; carrots, $1.75 per
sacK; garlic, 25 a- 30c; tomatoes, $ per
lug; beets, $2 per sack; turnips, $2.50
per sack; eggplant. 15o per pound:
cauliflower, $1.75 &2 per dozen; celery,
75c$l per dozen; green peppers, 100
17V&C per pound; sprouts, 16 17 c . per
pound; squash. 2$4jQ3c per pound; pump
kin. Z4ae per pound.
POTATOES Oregon, $1.76 2 per 100
pounds; Yakima, $2.50; sweet potatoes,
45aoVa per pound.
UiNloNS Oregoii, (1.75W3 per sack;
California brown, (22.25 per sack: pick
ling, eQilOo per pound.
Staple Groceries.
Local Jobbing quotations;
SUGAR Sack basis: Cane, granulated,
11 c per pound; best sugar. IIJ8O0 per lb
HONEY New. (J.J04J1S per case.
NUTS Walnuts. 22ty28o; Brazil nuts,
85c; filberts, 2125c; almonds, 26 0 30c;
peanuts, 9&14o per pound; cocoanuts, (2
per dox. ; pecans, 824r3oc; chestnuts, 25 f
35o pound.
RICE Blue Rose, lltte per pound; Jap
an style. 11c par pound.
BEANS Small white, Ac; large white,
He; pink, 7fec; lima, lOfec; bayous. 11c;
reu. oc per pouna.
COFFEE Roasted, bulk: drums, 31 0
41c per pound; sacked, 22 if 27c per pound.
SALT Granulated, bales, $3.4004.25;
half ground, ton. Sua. $19.75; lOOs. $18.25;
lump rock, 26.50.
Provisions.
Local Jobbing quotations:
HAMS All sizes, 43 St 46c; skinned 429
48c; picnics, 27c; cottage roll, S5c
LARD Tierce basis. 27Vc: shortening.
20 per pound.
DRY SALT Short, clear backs. 26 30c
per pound; plates, 22c.
BACON Fancy, 4Ui50c; standard, 33 0
44c per pound.
Oils.
LINSEED OIL Raw, barrels, $1.24:
drums, $1.31; cases. $1.39. Boiled, barrels,
$1.26; drums, $1.33; cases, $1.41.
TURPENTINE Tanks, $1.51; cases,
S1.6&
COAL OIL Tank wagons and iron bar
rels, 17c; esses, 30037c
FUEL OIL Bulk, $2.33 per barrel.
GASOLINE Tank wagona and iron bar-
rela, 29a; cases, 41 Vc,
Chi R I A Pac 10.500
Chino Copper.. 3.700
Colo FI & Iron 400
Corn Products 5.400
Crucible Bieel T.20O
Cuba Cane Sug 5.600
Erie 8.0O0
Generl Electric 9,100
Generl Motors 24.000
Grt North Pfd B.soo
Gt No Or ctfs
Illinois Central
Inspir Copper
Int Me Ma Pfd
Interna Nickel
Interna Paper
Kan Cty South
Kenne Copper
Louis ft Nash
Mex Petroleum 13.700
M:aml copper 1,100
Mid States oil
Midvale Steel
Missouri Pacif
Montana Pow
Nevada Copper
New York Cen
N Y N H A H
Nor ft Western
Northern
Ok Pd &
Pan-Am Petrol
Pennsylvania. .
Pitts ft W Va
Ray Con Cop
Reading
Kep lr steei
Royal D N Y
Shat Ariz Cop
Shell Tr ft Td
Sin Oil & Rfg 12.100
Southern Pad 83.200
Southern Rwy 10,100
S O N J Pfd 800
Studebak Corp 8. OOO
Texas company
Texas A Pacif
Tobacco Prdts
Traneontl Oil
Transconti Oil
Union Pacific
U S Food Pdts
IT R Rtl Stores
600
2O0
1.800
3.800
2.800
1.100
3.00O
2,900
6. 7O0
2.700
3,800
100
1.41)0
T.70O
8,600
l.r.oo
Pac 10.100
life 8.100
o.iOO
3,100
2.71m
1.400
21.700
6.6OO
4.4O0
100
1.000
4.800
1.600
1.9O0
6,600
5.600
4.70O
1,600
0.700
QUOTATIONS.
Last
High. Low. sale.
58 59 58
2 25 54 2314
1274 125 123
51 504 ,50
50 Vi 54 54 Vi
88 80 86 '
64 5114 W
9 93 93
76"4 74 74
99 99 V, 99 V4
60 63!,4 65
7 6 7
Aft 45 43
85T4 84 V4 84 A
115 112V4 H4i4
10314 10O 100 Vi
40 l.i 38 3914
BOW, 69 59
ll2 lltt 11V
20 20 20
11TH 110
37 364 34
77 7.-, 78
63 62 62
36 S5 35
79J - 78 78
81 28 30
23 21 21W
81 H 80 S1K
77 75 75
107 103 106
65 64 64
14 13 14
122 120 121
14 14 14
84 82 S3
30 30 30
90 89 90
38 38 38
57 55 55
15 15 15
67 60 67
21 20 20
20 20 20
13 103 103
163 160 161
17 17 17
12 12 12
83 S4 35
23 22 22
60 60 60
10 10 10
T 77 77
. 26 25 28
6 94 94
89 87 87
3 3 3
77 75 75
41 V 40 40
29 ' 23 2S
12 12 12
92 8H 8S
68 66 67
' 70 69 69
6 6 6
45 45 45
26 25 25
110 107 108
26 23 25
105 105 105
48 47 47
47 46 46
22 21 21
58 54 54
10 9 10
10 9 10
J21 120 120
88 85 85
62 61 61
TJ
U
U S Steel Pfd
Utah i epper. . .
westti 1 union
West Clectrio
Willys -Overld
65
82
106
55
87
44
8
63
81
196
63
87
43
7
63
81
106
53
87
44
7
8 Robber.. 3,100
S Steel. .. 31.500
0O
4,000
4oO
700
9.10O
BONDS,
U S Lb 8s...9S.50IA T A T cv 6s. 8S
do lit 4S. .. ."B8.UO Atcn gen S ... ion
do 2d 4s ....86.881D & R O con 4s 65
do 1st 4s. .. 88.50 N Y C deb 6s
do 2d 4s....86.20!N P 4s
do 3d 4s 88.50N P 3s
do 4th 4iS. ..80.481 Pao T .
Victory 3s .
00 4S
U S 2s reg. ..
do coupon
U S 4s reg..
. do coupon
Pan 3s reg.
T 5s.
..98.00 Pa con 4s...
.96.00 S P CV BS
.'101
.101
.105
.105
'78
do coupon ...78
So Ry 5s
U P 4s
U S Steel 5s.
81V
. 77
. 65
. 84
. 80
,108
. 88
, 80
. 93
Mining Stocks at Boston.
BOSTON, Nov. 13. Closing quotations:
Allouez 20 Mohawk 60
Ariz Com 8 North Butte ... 11
Calu & Ariz... 61 Old Don 20
Calu & Hecla.,248 Osceola 26
Centennial .... 9 Quincy 41
Cop Range ... 29 Sup & Boston.'. 26
East Butte ... 9 Shannon 1
Franklin 2 Utah Con 4
Isle Royalle ..." 21 Wolverine 10
Lake Copper.. 2 Greene Can .... 23
Money, Silver, Etc
NEW YORK. Nov. 13. Prime mercan
tile paper unchanged.
Bar silver, domestic, unchanged; for
eign, 79 c.
Mexican dollars, 60 c
LONDON. Nov. 13. Bar silver, 63d per
ouace. Money and discount, unchanged.
Insrease In Excess Reserves.
NEW YORK, Nov. 13. The actual con
dition of- clearing house banks and trust
companies for the week shown that they
hold $32,206,180 reserves In excess of legal
requirements. This is an Increase of $33,
512,970 from last week.
Foreign Exchange Kates.
Foreign exchange rates at clone of busi
ness yesterday, furnished by Northwestern
National Bank of Portland. The amount
quoted is the equivalent In United States
aollara.
Country, foreign unit Rate.
Austria, kronen ,,......$ .0031
Belgium, f rane . ........
Bulgaria, leva'
Czecho-Slovakia, kronen
Denmark, kroner
England, pound sterling
Finland, finmark ......
France, francs
Germany, marks
Greece, drachmas
Holland, guildrs ......
Hungary, kronen
Italy, lire
Jugo-Slavia, kronen
Norway, kroner ,r
Poland, Polish marks ...
Portugal, eacuaos
Roumanla. lei , ,
Serbia, dlnara
Spain, pesetas
Sweden, kroner
Switzerland, francs ....
China-Hongkong, local
Shanghai, taels .......
Japan, yen
currency. ..
0622
.0110
.0107
.1315
$.38
.0222
.0585
.0121
.0895
.2975
.0020
.0352
.0070
.1315
.0O27
.1400
.0147
.02SO
.1185
.1SS0
.1527
.6S115
.8550
.5073
NEW YORK. Nov. 13. Exchange, steady.
Sterling, demand. $3.36; cables, $3.37.
Francs, demand, 5,79; cables, 5.81. Belgian
francs, demand, B.14; cables, 6.16. found
ers, demand, 29.65; eables, 29.75. Lire,
demand, 3.48; cables, 3.50. Marks, demand,
117; cables. 1.18, Greece, , demand. 8.87.
New York exchange on Montreal, 10 13-16
per cent discount.
Foreign Bonds.
Furnlnhed by Overbeck A Cooke company
of Portland.
Bid. Ask.
Russian Rs. 1921 19 22
Russian 5s, 1926 12 15
Russian 6a, 1819 23 26
Currency 50 60
French 5s, 1831 5 61
French 4s, 1917 .40 42
French 69, 192-0 5 - 58
Italian 5a, 1918....... 23 25
British 5s, 1922 ,.320 335
BritlEh 6k. 1927 ,..,,.315 825
BritiBh 5s, 1929 2S0 - 295
British vky 4s 235 250
British ref. 4s 22 242
Belgium rest 5a ....57' 59
Belgium prem 5s ...... 58 61
Germany. W. L. 5a 13
Berlin 4s 10 12
Hamburg 4s 11 12
Hamburg 4s 1. ....... 12 14
Leipsig 4a 13 15
Lei pais 5s ,, 13 15
Munich 4s , 13 14
Munich 5s , 15 17
Frankfort 4s 13 13
Jap 4s , 57 57
Jap first 4s 74 74
Jap second 4s 74 74
Paris sixes 94 95 Vi
U K 5s. 1921 98 98
OREGON
School Bonds
District No. 57
POLK COUNTY
6
Maturities:
1923 . . . $5000
1924 . . . $5000
1925 ... $5000
1926 . . $5000
1927 . . . $5000
1928 . . . $5000
1929 . . . $5000
Maine
Michigan ....
Iowa .......
New York ..
"Wisconsin .
Nebraska
Pennsylvania
Minnesota ...
Colorado . . .
Apples Steady In Local Market.
Apples were steady locally at the close
cf the wek with a moderate demand on
Ji-bbers.
Sales in the country continue light, out
a fair business Is dolug In cars In transit.
Some cancellations of previous sales were
repot ted.
Wool, Cases ra. Eta.
MOHAIR -Long staple, 2o per pound;
short staple, 15e per pound.
TALLOW No. 1. 8c per pound; No. 3,
5c per pound.
CASCARA BARK Per nound. mil
weight, old peel. 9o; new peel, 8c per
pound.
WOOL All graJes nominal.
HOPS Oregon, 1920 crop, 85&38e per
pound.
Hides and Pelts.
All prlcts nominal, swing te unsettled
condition of eastern markets.
Price to Net 5.75 to 6
"Robertson Zt Wnuig
207-8 NORTHWESTERN BANK 01. DO- HashauU
Here's Cash for You.
We pay high prices for high grade
gold or silver ores, amalgam, concen
trates, bullion, retort, etc Ship to
us by mail or express In any amount
or quantity. Cash sent you by return
-mail. We also buy diamonds, plati
num, 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 satisfied with
the amount we send you, except when
refining muEt be done to determine
the value. - Ship us now while the
high prices are prevailing. Pmall and
large shipments solicited. The rthin
. Urn a 1 n tr V. D.flnl.- OOO T
Among the transaction, at ship- bid.. Cleveland- Ohio:" Bank "rV
Cnowledge
vs.
Guesswork
This office gives valuable
advice respecting improvements
in fire risks, rate reduction and
the formulation of forms that
constitute broad protection.
John Schibel
Insurance Broker and Adviser
Wilcox Bid?. Main 8020.
Better Times
are Ahead
Provided yon arc giving
some thought to the fu
ture in terras of savings.
If 70a ax not savins; all
that you can comfortably
spare and saving consist
ently, you should make a
determined start without
further delay.
There is nothing that gives
more confidence than that
little nest egg laid aside
out of savings.
We will afford the stimu
lus by showing how yon
can purchase high grade
securities to yield front
7 to 9
and make payment with
what you can save conven
iently and regularly each
month.
Booklet describing the
method of payment in de
tail and helpful investment
suggestions seat free upon
application.
Writm DepU PG-26
BiRRLEsRCLfiRKSnHfiHf
6 6 Brooi dwexy. - NtwYoxK.
TXLEPHOHtSiMCTOK 49'4
OVERBECK &
COOKE CO.
Brokers, Storks, Bonds, Cctton,
Grain. Ltc.
16-2 17 BOARD OF TRADE BLDG.
MJ5MBER3 CHICAGO BOARD OP
TRADE.
MEMBERS
Correspondents of Legsn A Bryan.
, Chicago and ficm York.
New York Stork Exchange.
Chicago Stock Kxchnnga.
Boston Stock Kxehange.
Chicago Board of Trade.
New York Cotton Kxehange.
New Orleans Cotton Exchange.
New York Coffee Exchange.
Kew York Produce Exchange.
Liverpool Cotton Association.
TJ K 6, 1922 4 8
U K 5s. 1929 83 884
U K 6a, 1937 8T 87 is
BATIO OF RESERVES IS INCREASED
Gala of Six-Tenths Per Cent Is Recorded
in Week.
WASHINGTON, Nov. 13. The condition
of the federal reserve banks was as fol
lows at the close of business November 13:
Resources
Oold and gold certificates.. 180,814.000
Gold settlement fund, federal
reserve board 409,075,000
Gold with foreign agencies. 77,244.000
Total gold held by banks. $ 656,133,000
Gold with F. K. agents.... 1.177.68H.000
Gold redemption fund 174.85s. OOO
Total gold reserves 33,008,678,000
Legal tender notes, silver,
etc. 17.133,000
Total reserves 32.1S0.011.000
fill Is discounted secured by
government war obligations 1.180,977,000
All other 1,003,773.000
Bills bought in open market. 2s7, 854,000
Total bills on hand t3,072,BO4,000
U. S. government bonds.... 2ti.b63.000
U, B. victory notes tiu.000
U. S. certificates of Indebted
ness . , z69.310.000
Total earning assets...
Bank premises ........
Uncollected items and other
deductions from gross de
posits Five per cent redemption
fund against federal reserve
'bank notes 12,090,000
All other resources 6,790,000
33,368.846,000
la.9T7.ouu
772,277.000
Total resources. ......... . .16,306,581,000
Liabilities
Capital paid in ( 98.847.000
Surplus , 164,745,000
Government deposits 17,845,000
Xue to members' reserve ac
count 1,801,864,000
Deferred availability items. . . 601,624,000
Other deposits. Including for
eign government credits..... 23,708,000
Total (toss deposits ..12.447,041.000
Federal reserve notes In actual
circulation 8,828,883,000
Federal reserve hank notes in
circulation, net liability.,.. 218,080.000
All other liabilities... 101,893,000
Total liabilities .$6,858,581,000
Ratio of total reserves to net deposit and
federal reserve note liabilities eombined,
43.6 per cent.
Ratio of gold reserves to federal reserve
notes in circulation after setting aside 85
per cent against net deposit liabilities, 47.9
per cent.
STOCKS LOWER WITH COMMODITIES
Losses of Five to Almost Twenty-five
Points . During Week's Trading.
NEW TORK. Nov. 13. Additional
downward revision of values In the se
curities market this week accompanied
the further leveling at prices in the com
modities markets. Losses of 6 to almost
25 points in a w.ide variety of stocks estab
lished low records tor a period ef oae to
three years.
Heavy accessions te the country's un
precedented gold holdings and return to
this market of vast sums released from
crop-moving centers failed to bring any
relief to the strained monetary situation,
save for a temporary .easement of demand
loans.
In the steel snd Iron trades, and more
particularly in the textile and kindred
Industries, the reversal made greater
progress with consequent reduction of
wage schedules, contracted payrolls and
increased unemployment, several of the
leading railway systems announcing fur
ther laying off of employes..
The break In International remittances
comprehended practically every financial
center of Importance on the eastern hemi
sphere, excepting the British isles. It ex
tended to South and Central America,
where serious trade dislocations threat
ened the enforced rejection of extensive
obligations with business interests in this
country.
The note of qualifier! optimism counded
One Hundred
Inyestment Bargains
in Railroad Bonds
In a circular prepared by
one of the greatest .bond au
thorities in this country, which
we have just had printed, the
bond situation is not only
"thoroughly covered, but there
is a list of one hundred bar
gains in high grade railroad
bonds yielding as high as
Ten Per Cent
Among this list are many
unusual investment opportuni
ties, and inasmuch as under
lying factors are now favor
able to rising bond, prices, a
selection of these bonds would
unquestionably result in excel
lent market profits, in addition
to an attractive income return.
The circular will be sent
without obligation, together
with a booklet describing a
convenient method of purchas
ing the bonds.
- Ask forPG-55
EL M. fuller & Co.
SO Broad St
New York
i of B.T.
New Ysrk.
UMrost PtU sriree'
YIELD
9
Exempt From AO Dominion Government Tax
WE OFFER SUBJECT TO PRIOR SALE AND
CHANGE LN PRICE
YIELD
9
The Unsold Portion, City of
EDMONTON
PROVINCE OK ALBERTA
6 General Obligation Gold Notes
Price: 95.04; Yield 9
A TRIBUTE PROM THOSE WHO KNOW
Two Hundred and Sixteen Banks, Trust Companies and Bond Houses
In California. Washington and Oregon have subscribed to blocks of the
Edmonton Notes, after investigating the surety and resources behind
the issue.
by the federal reservo beard respecting
future conditions was shared by conserva
tive banking interests, which, however,
again stressed the Importance of limiting
credits to essential projects.
For the first time since the early au
tumn, no new capital Issues were an
nounced and the trend of the bond market
suggested that latest events had prompted
increased caution on the part of Investors.
Swift Co. Stocks.
Closing prices of Swift A Co. stocks st
Chicago were reported by Overbeck
Cooke Co. of Portland as follows:
Swift Co J
Swift International J
Libby. McNeil A Libby
National Leather
Eastern Dairy Proeraeo.
CHICAGO. Nov. 13. Butter, firm:
creamery, 40 62c
Eggs, higher. Receipts. 2333 esses;
firsts, 6Ta68c: ordinary firsts. 8861c:
at mark, cases Included, 67664c; stand1
ards, 6870c; storage packed firsts, 701,4?
71c; refrigerator firsts, 82ig53c.
NEW TOSS, Nov. 13. Butter. f.lrm, un
changed. Eggs, steady, unchanged
Cheese, firm, unchanged.
Naval Stores.
SAVANNAH. Ga.. Nov. IS. Turpentine,
nothing doing; last sale, November 8. at
$1,12; receipts, 6M barrels; shipments, 10
barrels; stock. 15,792 barrels.
Rosin, dull; sales, none; receipts. 2704
barrels: shipmenta 23 barrels; stock. 58 -567.
Quote: B, O, E, F, G, U, I, K, M, N,
WG, WW, 811.
Canadian Storage Stocks Largs.
According to a report from the bureau
Dated September 1. 1920. Due September 1. 1932.
Denominations, SlOO, KOO and ftlOOO
PRICE SUBJECT TO INCREASE WITHOUT NOTICE
FINANCIAL STATEMENT
Gross assessed valuation v $86,605,715.00
Vale municipal property (not including; publio
11.030,376.00
. 9,488.997.00
767,773.00
3,046.763.00
utilities).
Net debenture debt...
Revenue from public utilities (above cost of
operation)
Net local Improvement debt (rate payers' share)
In addition to being General Obligation Notes,
these are secured by long-time debentures
totaling $2,594,420.
Principal and semi-annual Interest CM area 1st and Sep
temiber 1st) payable in TJ. S. Gold Coin In New York City
or at the offices of Morris Brothers. Inc.
Legality approved by Malone, Malone 4 Longr, Toronto..
Telephone or Telegraph Orders at Our Expense
MORRIS BROTHERS, Inc.
"Ths Premier Municipal Bond House,"
PORTLAND, OR. MORRIS BLDG.
over"." 309-11 STARK BROADWAY 2151
Quarter Other Offices at Seattle. Tacoma, ' Million
Century. Wash., and San Francisco, Cal. Dollars
YIELD
9
-t SAFE DEPOSIT BOXES .
YIELD
9
of statistics there were In the month of
October, more than 23,000,000 pounds of
creamery butter, 20.000,000 pounds of
cheese and 13,000,000 dozens of eggs in
storage In Canada.
Dried Fruit at New York
NEW TORK, Nor. 13. Evaporated ap
ples dull.
Prunes, easy.
Peaches, quiet and steady.
IIIIIIIBIIBBIDBI.IIIIIIBBBBIBnBQBBBBIQ.
$6,000,000
CITY OF BERNE
(SWITZERLAND)
25-Year 8 Sinking Fund Gold Bonds
Dated Nov. 1,. 1920.
Due Nov, 1, 1945.
Coupon Bonds in - denominations of $1000 and $500,
registrable as to principal only. Principal and interest
payable in United States Gold Coin without deduction
for any Swiss Government or municipal taxes, present
or future.
The City of Berne, the capital of the canton of Berne and the
Swiss Confederation, is one of the four largest cities of Switzer
land. The city in 1919 had a population of 110,000 and has
eteadily grained in importance as the seat of the Federal Gov
ernment and of various international associations, such as the
postal, telegraph and railway service. ,
There will be a sinking fund created sufficient to retire 2 of
the issue annually the first five years, 4 annually the next ten
years and 5 annually the last ten years. Bonds are purchasable
n the open market up to 107 and interest for the first five years
and are callable as whole or in part at 107 at any time after 1925.
The total value of the taxable property of the city is estimated
at $229,000,000 with a taxable income of $23,700,000. The total
debt approximates $18,900,000, of which $3,570,000 is floating
debt. The credit of the City of Berne has always been very high.
The purpose of the present loan is to retire the floating indebted
ness of the city and the balance is to be used for municipal
enterprises.
Price 99 and Interest, Yielding: 8:10.
BOND & GOODWIN
GOVERNMENT, MUNICIPAL AND CORPORATION BONDS
231 United States National Bank BIdg. '
Portland
WE WILL SELL
300 Beaver State Motors. .. .. .$ .PS
225 Prest O Graph Bid
200 Perfection Tire A Rubber. 1.37
50 Amer. Llfeograph. . , 17.B0
10O0 Alaska Pete A Coal 13H
lno Western Rubber I.... 5.00
100 Portland Ry., 1. A P- pfd. 11.50
SO Alaska Steamship Co 30.00
50 Commonwealth Fin. Pfd.. 75.50
100 Diotogrnph Products 3.50
fino Baker Bteam Motors.. 05 '.4
1000 Queets TradiPg., 10
WTLI, BUY
85 Pacific States Fire.
10 New World Life Insurance.
50 Paolfic Alaska Nav. Co.
50 P. L. Traction. Lt. A Pr.
IOO0 Amalgamated Mines Ore.
2000 Duthie Oil Co.
60 Chilcat Oil.
1O0 Portland Ry. Lt. Pr. Co.
20 Portland Gas & Coke, Pfd.
fW) Areo' Alarm Co.
100 Heels Mining.
Liberty and Victory Ponds In any
amount at market. .
s Our private leased wires to all cities of Importance enables us to execute
almost instantly orders oa any security, whether listed or unlisted; also grain,
cotton and provisions. '
Herrins Rhodes incv
ESTABLISHED 1896.
STOCKS and BONDS
Mailway Kxrhanro Bid.. Main 83.
Member ChicaaVQ jtiou-i of Trade.
Legal for Savings Banks and Trust Funds
Tax Exempt
City of Enterprise, Oregon
6 Improvement Bonds
Denominations $500
Maturities from 1926 to 1930. Price 99
Yielding approximately 6.13 to 622
Biyth Witter. & Co.
' UNITED C0VERWUUT JtUWIQPAl. AMD COKTOttHOfl BONDS
YE0N BUILDING, PORTLAND, ORE.
. Telephone Main 8183 -.San
Francisco Seattle New York Loa Angeles
WE OFFER AND RECOMMEND
the following External Sterling Bonds as afford
ing an unusual investment opportunity:
Kingdom of Norway
3 STERLING BONDS OF 1888
$335.00 for 200 (973.33)
Kingdom of Denmark
4 STERLING BONDS OF 1912
$450.00 for 200 ($973.33)
Government of Argentine
A STERLING BONDS OF 1896-1900
$455.00 for 200 ($973.33)
These bonds are all the external obligations of
the issuing country and are payable, principal
and interest, in Pounds Sterling at the current
rate of exchange.
They, are seasoned loans of countries of
unquestioned financial integrity whose credit
and standing were benefited rather than harmed
by the recent war.
In the best financial opinion Sterling Exchange
will increase steadily in price as conditions
become more normal, and as English Exchange
goes up these bonds will become increasingly val
uable. E L Devereaux 5c(ompanV
Full details upon request.
INVESTMENT BONDS
87 Sixth Street Broadway 1042
Pnrflanfi. Orpfrnn
m , ,
IBBHBtnBIBiaBIBIBBIBBBiaBIBHBIDBBiBBinfliDaBBBIDBIBfliH
1
,
We have moved to our new location on
Fifth street near Stark on the ground floor
of the Lumbermens building, where we
have ' provided extensive quarters for the
conduct of a general bond investment
business.
We have provided a number of private con
sultation rooms, the tiae of which we are
pleaded to tender to our friends- and clients.
iaBEEBBi Freeman Smith & Camp Co."
Phone B'way (740
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g)Mr points were: At Wenatchee, btay
erences. Adv.