THE SUNDAY OREGOXIAX. PORTLAND. JANUARY 2, 1921
21
mmm oiitp t
INCREASES SIXFOLD n . y55 f
Industry Now Ranks 15th
United States.
GROSS TONNAGE DOUBLED
American Merchant Marine Vessels
Have Carrying Capacity Slightly
.Less Than Third of World.
The annual output of American
shipyards has increased sixfold in six
years, and the shipbuilding Industry
during this period has risen from j
fifth position among: the industries of
the country for the value of output,
to fifteenth position, according to an
article entitled "American Shipbuild
ing Present and Feture, appearing
in the January issue of Marine En
gineering. Extracts from the article
follow:
"A comparison of shipbuilding with
ur other national Industries gives
a.n Idea of its enormous expansion.
In 1914 the total value of the output
of the industries of Iron and steel and
their products was 13,223.144,000, of
which shipbuilding was approximate
ly t per cent. The present estimated
value of the annual output of the iron
and steel industries is 16.500.000.000,
of which shipbuilding is approxi
mately 15 per cent.
Industry ott Ranks Fifteenth.
"In 1914 shipbuilding, with a total
Talue of output of 188,682.000. ranked
fifty-eighth among the industries of
the United States. The construction
now under way places shipbuilding in
about fifteenth position, surpassing
such industries as leather, furniture,
chemicals, paper and wood pulp, agri
cultural implements, silk and sugar.
The steel merchant tonnage now
under construction for private ac
count (approximately 1,500.000 gross
tons) Is over six times the average
pre-war output of eteel merchant
vessels (235,000 gross tons annually),
and la approximately three and one
half times our best annual output
prior to the war (450.017 gross tons
of steel ships in 1908).
"On September 1, 1920. there were
under construction 2.463.314 gross
tons of steel merchant vessels. Of
these. 1.43S.49S gross tons were for
private account and 1,024,816 gross
tons were for the United States ship
ping board. On September 15, 1920.
there were under construction for
private account steel vessels aggre
gating 1.449.S59 gross tons. This was
practically the same as the' private
account tonnage under construction
July 1, 1920, new orders having re
placed the tonnage delivered. This
indicates that shipbuilding should
continue for the next year or two at
a minimum of approximately 1,500.000
gross tons annually.
Merchant Marine Toniucr Doubled.
"The tonnage of our merchant ma
rine has more than doubled durin'J
the past six years, and our present
tonnage is over 16,000,000 gross tons,
slightly less than one-third the total
world tonnage. The tonnage now un
der construction will bring this total
UP to approximately 19,000.000 gross
tons by July 1. 1921. Our foreign
commerce has also increased enor
mous, and the percentage of our
foreign commerc-3 carried in Ameri
can ships has increased in even
greater proportion. In 1914 the pro
portion of American tonnage to the
total tonnage entering and clearing
United Stales ports was 26 per cent,
while during the first six months of
1920 this had jumped to 60 per cent.
"That a minimum annual output of
1.500. 000 gross tons of steel merchant
vessels is a conservative estimate is
borne out by the following: By July
1. 1921. our merchant marine will ag
gregate approximately 19,000,000 gross
tons. Assuming the average life of a
ship to be 20 years, there will be re
quired annually for the upkeep only
of our merchant fleet 5 per cent of
this tonnage, or approximately 950.-
vvv gross tons. Actual replacements
will undoubtedly bt much larger, in
asmuch as a large nan of our present
merchant marine 'is composed of
wooden ships.
Prosperity of Industry Assured.
"The orders for merchant vessels
already placed despite present high
costs assure the prosperity of the
shipbuilding industry during 1921.
"All present Indications arc that
the American shipbuilding industry
"111 enjoy still greater prosperity in
future yeans. Reconstruction in Europe
has hardly begun, and European
manufacturers arc not able to meet
domestic demands, to say nothing of
foreign orders. When foreign ex
change returns to a normal basis
the resultant demand for American
goods throughout the world will lead
to a vast increase in our foreign
trade and an Increased demand for
hips. Still more ships will be needed
to care for future foreign trade.
"A considerable amount of new
construction for foreign account can
aio be expected as soon as exchange
rates become normal. Plans for a
number of these ships have been
drawn in this country. At present
the greater part of our merchant
flee: is composed of new vessels, some
of which were built when quantity
of tonnage was more urgent than
quality. As these ships grow older
an Increase in repairs and more fre
quent replacement will be necessary
in order to keep our merchant marine
In shape to meet foreign competition."
GRAIN CARRIER IS U WAY
or egian Steamer Hermion to
niehurpe at Norfolk First.
The NurwoRlan steamship Hermion,
under charter to Kerr. Gifford & Co.
to carry wheat from Portland to
Europe, is reported to have passed
Gibraltar December 17 en route from
Marseilles to Norfolk, Va. She will
come around to the Columbia river
after discharging; at Norfolk.
The only other vessel known to
have been chartered for grain loading
here is the British steamer Orient
City, which has been fixed by E. A.
Strauss & Co. This vessel is rtow on
her way up the coast from the Pana
ma canal and Is expected here next
Friday.
HI TLER AGAIN RAMS BRIDGE
6tern-Vheeler 1'm Empty Barge
to Batter Draw Rest.
The stern-w heel steamer Hustler
apparently has a grudge of tome kind
against the Portland bridges, for she
im continually trying to shove them
out of the river. Her latest exploit oc
curred Thursday afternoon, when shfc
bumped an empty barge which she
was pushing down the stream against
the Burnside bridge draw rest, dent
ing the barge and breaking fender
Files.
Early last September Captain
Thomas P. Campbell, master of the
Hustler, covered himself with glory
and narrowly escaped destruction
when his vessel smashed her pilot-
ARTISTIC SNAPSHOT OF STEAMER ALASKA PASSING THROUGH JACK-KNIFE SPAN OF
BROADWAY BRIDGE.
Angelus Photo.
The steamer Alaska Is the latest addition to the passenger fleet operating from Portland. She was recently
placed on the coastwise run by the San Francisco & Portland Steamship company, as fleet mate of the steamer
Rose City, and is considered the finest passenger boat now serving this city. She was purchased by her present
owners from the Alaska Steamship company, who had been operating her in the trade between Alaska and
Puget sound. The vessel was built in 1S89 at Chester, Pa., by the Delaware River company, as the, steamer
Kansas City, and Is still used by this company to illustrate advertisements in trade magazines.
The Rose City end Alaska are now maintaining a schedule of a sailing every five days from Portland to
San Francisco, and it is rumored that a third passenger boat will be placed on the run before the end of this
year.
house against the steel bridge. On
this occasion Captain Campbell stuck
to the wheel until the last moment
trying to avoid the crash and then
saved his life by diving through the
window just aa the cabin was smashed
to splinters.
The accident Thursday was caused
by the swift current In which the
Hustler was maneuvering to avoid a
barge of the Pacific Telephone & Tel
egraph company, upon which work
men were making repairs to a sub
marine cable.
COOLCUA ARR1VKS AT ASTORIA
Third of Pacific Motorstilp Fleet
.May Come to Portland.
Marking the third arrival in the
Columbia river of a vessel of her
fleet within two weeks, the motor
ship Coolcha of the Pacific Motor
ship company put Into Astoria Friday
night and is expected to load lumber
at Portland for the west coast of
South America, though no loading or
ders for the vessel have been issued
as yet.
The Coolcha is one of eight motor-
ships operated in the South American
west coast trade by the W. E. Comyn
interests of San Francisco. She is
follow'ng in the wake of the Booby-
alla and Culburra.
The Boobyalla arrived here Decem
ber 15 from west coast ports, and the
Culburra came in a day later. The
Boobyalla took a part cargo from the
Columbia river and went to Puget
sound to finish, while the Culburra
is loading a full cargo here for
South America.
RIVER SCHEDULE WITHDRA VY.
Arrangement-. Made With Oil Com
pany Cause Last-Minute Change.
Arrangements made at the last
moment by the Harkins Transporta
tion company with the oil companies
caused the withdrawal Friday night
by the Harkins line of a new schedule
announced earlier in the day. Ar
rangements had been completed to
withdraw the steamer Madeline from
the Astoria-Portland run and to op
erate the steamer Qeorgiana only on
the one-way trip each day. Instead
of the round trip.
With sufficient fuel oil assured,
however, to operate all vessels for
the time being, the Oeorgiana will
continue her dally round trips to
Astoria, and the steamers Eurline and
Madeline will alternate, so that a day
boat and a night boat to Astoria
every day will be provided.
Schooner to Carry Lumber.
Charter of another sailing vessel to
carry lumber from the Columbia river
was announced yesterday In advices
from San Francisco. The vessel is
the schooner Carrier Dove, a four
masted wooden sailer built in 1S90 at
Port Blakely. Wash. She has been
chartered to her owner. J. J. Moore,
at a figure not made public. The Car
rier Dove was formerly a frequent
visitor at Portland. She was last re
ported as arriving at Melbourne De
cember 1 from Fort Bragg. She has
a lumber carrying capacity of 925,000
feet.
Ship Reports by Radio.
Famished
by Radio Corporation
i.f
America.
Positions reported at 8 P. M. y?terday.
unletw otherwise indicated, were as follows:
BEARPORT, Portland for Shanghai.
547 miles west of Columbia river. S P. M.,
December 31.
ALGONQUIN. Shanghai for San Fran
cisco. 3t-V miles from San Francisco. 8
P. M December 31
WEST CAJOOT, San Francisco for Ma
nila. 31 7 miles from San Francisco. 8
1 M.. December 31.
WEST 1VTS. Yokohama for Vancouver.
2M8 miles from Flattery. S P. M., Decem
ber 31.
VICTORIA. Cordova for Seattle. 14S
miles south of Cape James, S P. M.. De
cember 3V
H.U'DEN. Vancouver. B C, for United
Kingdom via San Pedro. 40 miles south
hi of Cap "Mearea.
NORWOOD, Seattle for San Francisco,
245 miles from Seattle.
KLAMATH. Portland for San Francisco,
1J miles south of Columbia river.
AVALOX. San Francisco for WUIapa
Harbor. 132 miles south of Wlllapa Harbor.
SANTA ALICIA. San Francisco for Ta
coma. 31S miles north of San Francisco..
W A PA MA, Everett for San Francisco.
3S miles south of Cape Flattery.
ADMIRAL Schley. San Francisco for Se
attle. 17t miles from Seattle.
WEST IVAN. Vancouver for Yokohama.
220 miles west of Flattery.
ADMIRAL WATSON. Seattle for San
Francisco, 110 miles from Seattle.
HOLLYWOOD. Seattle for San Francisco,
M mile north of San Francisco.
EASTERN SAILOR. San Pedro for
1'nited Kingdom. 622 miles south of San
Pedro.
ADMIRAL WAINWRIOHT. San Pedro
tIs San Francisco for Payta. &2S mites
south of San Francisco.
JOHN WORTHING TON, 72. miles south
of Saji Francis', boimd for Panama.
REDONDO. San Pedro for San Fran
cisco. M miles north of San Pedro.
OLARBMOXT. San Pedro for San Fran
cisco. 170 miles from San Pedro.
SAN ANTONIO. San Fra-nclsco for Ma
satian. 10 miles south of San Francisco.
DRLISLE. San Francisco for Boston via
San Pedro. 144 mile from San Pedro.
AGUA PRIETA. towing motonship Mayo,
San Francisco for Quay mas. 54M miles
south of San Francisco iightahip.
BRUSH. 244 raiies south of Columbia
river tight vessel for Philadelphia from
Portland.
ROSE CITY. Pan Francisco for Port
land. 203 miles south of Columbia river.
CELILO. San Francisco for Portland, 30
mile south of Columbia river.
ALASKA. Portland for San Francisco.
120 miles south of Columbia river.
ALASKA. Portland for San Francisco.
120 miles south of Columbia river light
ship. W S MILLER. San Francisco for Point
w - 573 miles south of Point Wehs.
MULTNOMAH, for Portland, 200 miies
north of San Francisco.
OLD m jjjLE REVIVED
XEW EMPLOYES OF SHIPYARD
TO GET 8 CEXTS HOUR liESS
North-west Bridge and Iron Co. Will
Make No Change in Pay of
Old Employes.
All new employes engaged by the
Northwest Bridge A Iron company,
beginning Monday morning, will be
paid S cents an hour less than the
present scale, it was announced yes
terday by W. R. Bowles, a director
of the company. This reversion to
the old Macy scale, adopted bythe
shipping board as the wage for ship
yard employes, will not affect the
present employes of the yard as long
as they remain, Mr. Bowles said, and
the confpany has no intention at re
ducing the pay of present employes.
In addition to the obvious reduc
tion in operating cod, this move is
expected to increase the efficiency of
the plant by providing a further in
centive for skilled workmen to re
main at their tasks. A man taking
a voluntary law-off or one discharged
for cause. Mr. Bowles explained, will
be re-engaged only as a new em
ploye and will receive the reduced
pay, while workmen absent because
of sickness will be continued on the
payroll and will not be affected by
the cut in wages.
The G. M. Standifer Construction
corporation at Vancouver, according
to R. V. Jones, general superintend
ent of the plant, has made no plans
for a reduction of any kind in wages.
Movements or Vessels.
PORTLAND, Jan. 1. Sailed at 7:45 A
M. Dutch steamer Elbcrgon. for Brake.
Germany. Arrived at tt A. M. Steamer F.
H. Buck, from San Pedro; at 12:30 P. M.
Steamer Willamette, from San -Francisco:
at 0 P. M. Steamer Steel voyager, from
Vancouver, B. C.
ASTORIA, Jan. 1. Left up at 2 A. M.
Steamer Willamette. Arrived at 7 last
night Motor schooner Coolcha. from Anto
fagasta. Sailed at 9 last night Steamer
Alaska, for San Francisco. Arrived at 11
A. M. and left up at 12:30 P. ML Steamer
Steel Voyager, from Vancouver, B. C. Ar
rived down last night Steadier Yellow
stone. SAN PEDRO. Jan. 1. Arrived Steamer
EI Segundo, from Portland.
SEATTLE. Dec. 31. Arrived Steamer
West Keene, from Astoria, for Honolulu.
SAN FRANCISCO. Dec. 31. Sailed at
8 P. M. Steamer Muiuxoman, for Port
land. EUREKA. Dec. 31. Barbound
Steamer Curacao, from Portland, for San
Francisco.
SAN PBDRO, Dec. 31. Sailed Steamer
Daisy, Oregon and Flavel, for Columbia
river.
SEATTLE. Wash.. Jan. I. Arrived
Steamers West Keen, from Honolulu: City
of Seattle, from Southeastern Alaska; H.
B. LovJoy, from San Francisco.
Departed Steamers EldridRe, for Ma
nila via Yokohama and Hongkong; Effing
ham, for Hamburg via London and Liver
pool; Admiral Watson for San Pedro via
San Francisco.
TACOMA. Wash., Jan. L Arrived
Steamer Prince Albert, from Prince Rupert.
Departed Steamers Sudbury, for New
York; Meridan, for Valparaiso; Toyama
Maru. for oriental ports; Prince Albert,
for Vancouver.
LEITH, Dec. 28. Arrived Steamer
Cairnmona, from Portland, Or.
YOKOHAMA, Dec. 29. Arrived Steam
er Empress of Asia, from Vancouver.
SAN PEDRO, Cat, Jan. L (Special.)
iiriiurl KroamrK fin Sal lllll 3 P M frnm
Albion: San Antonio, from San Francisco,
k A vi I
Sailed Steamers Stanley Dollar, for San
Francisco. 5 P. M. ; Phyllis, for Puget
GRAPHIC REPRESENTATION OF PORTLAND'S EXPORT BUSINESS
FOR PAST SEVEN YEARS.
PJ
9
9S
96
upflu m
6CfifUIQN
rrn
mmurn
How Portland's export business slumped as a result of the war and the
withdrawal of tonnage from the Pacific coast and then rebounded to
tc-ur times its former volume is clearly shown in the diagram prepared by
John P. Doyle, assistant secretary of the Port of Portland. In 1913, the
last normal year before the war in Europe. Portland's exports were val
ued at $14,445,715. The lowest figure in recent years was reached in
1916, when the value of exports from Portland fell to 506,919. For the
year just ended exports moving from this city were valued at 861.413.272.
according to official government figures for 11 months and an estimate for
the month of December made from records kept by the Merchants' Ex
change of export declarations filed at the cuatoma house.
sound. 6 P. M. : Karakatu, for San Fran
cisco, 5 P. M. ; Solano, for Wlilapa. 6
P. ML : Everett, for Puget sound, 7 P. ML J
Governor, for San Francisco, 10 P. ML ;
Humboldt, for San Francisco, 0:30 P. M.
TRIP ROUND WORLD kDD
Centralian Participates in Rescue
of Shipwrecked Indians.
CENTRA L.IA, Wash.. Jan. 1. (Spe
cial.) W. C. Eutterfield of this city
has just completed a trip around the
world as a member of the crew of
the Vnlted States shipping board's
steamer West Modus, built in Port
land by the Northwest Steel company.
On October 30 last Butterfield as
sisted in rescuing the pa-ssengers of
the British Indian liner Fazaliki.
which went on the rocks in the East
Indies. In a rolling poa and with the
thermometer registering 135 degrees,
600 adults, some of them over 100
years of age, and 11 children were
transferred to the. West Modus with
out a single loss of life. The rescued
persons were all natives making a
religious pilgrimage to Bombay.
Tides at Astoria Sunday.
High. Low.
M aO feetl:ll A. M 2 3 feet
M....6.5 feetj2::il P. M 17 feet
7.32 A
8.18 P,
Report From Mouth of Columbia.
NORTH HEAD. Jan. 1. Condition of
the sea at & P. ML, rough; wind south,
14 miles.
DAILY METEOROLOGICAL REPORT.
PORTLAND. Jan. L Highest tempera
ture. 31 deerees; lowest. 44. River read
ing. 8 A. M., 14. :i feet; change In last 24
hours, 0.3 foot rise. Total rainfall (8 P.
M. to 5 P. M., 0.8S Inch, total since Sep
tember 1, 1920. 22.20 inches; normal, 19.59
inches; excess, 2.61 Inches. Sunrise, 7:53
A. M.;' sunset. 4.37 P. M. Total sunshine.
39 minutes; possible sunshine. 8 hours and
44 minutes. Moon rise (Sunday!, 1 :43 A.
ML; moonset (Sunday), 12:29 p, M. Barom
eter (reduced to sea levelj 5 P. M.. 30.06
Inches. Relative humidity: 5 A. ML, 9t
per cent; noon, 91 per cent; 5 P. ML 92
per cent.
THE WEATHER.
K 2 V Wind
1 I S i
C c o i
3 3 3 J I
stations. I f :8 : ? w"th,r
S 9 : S
; ! : - : :
MM:
Baker . . .
Boise ....
Boston .
Calgary .
Chfrago .
Denver ..
2i 32J0.2Of.JE iCloudv
:iu :tt; 0.24 . . sl: icioudy
22 420.0O12IS Rain
is 4(i 0.00 . . NW Pt. cloudy
4-t sofo .Ague tew 'rinnrtv
tl 4u o .001 . . ;.n v t if ar
Des Moines. . I 30: 38 0. OU,
w
ISlow
n,ureKa ..
Galveston
381 MijO.00,. .IS
Clear
(M)( OH'O.OJ lOj.N
28i 360.04 io;sw
86t..)1.88l..lSE
Cloudy
Cloudy
Helena
'Juneau . . . .
KansasTtty
I - Angeles..
Marshfleld ..
Med ford ....
Minneapolis.
New Orleans.
New York...
North Head.
Phoenix
Pocatello .. . .
Portland ...I
Kaln
Clear
461
74 0.00 . .!W
Clear
8'
;t:
44 0.101, . NE
3!0.02!1IW
74 O.OO, . . S
44!0.0O!20iS
48l. 02,1418
Cloudy
iSnow
Clear
Cloudy
42
34
Kain
lis (I 1 Hi
Clear
Snow
Rain
Rain
j i -'s 0.02 n si-;
44 51i0.3517jSW
Roseburg ..I 4
Sacramento
St. Louis .
Salt Lske
San Dtogo -San
Fran. .
Seattle ....
'Sitka
Spokane ...
Tacoma . . .
Tatoosh . . .
40! 38.0.00 . ,!SB
Clear
Clear
Cloudy
4 50 0.30-22 W
24 tsw.'cm.
NE
4" 2 o mm
401 00:0.00
NW Clear
NWJPf. cloudy
42 48 0.14 22. S
c:oiniy
86 t. - 0.28 . .IB
82 42 0. 041. . SW
42 480.3620ISW
44 48 1. 04132, S
40 5410.301. .iS
82 46 0.00. . N
4 4 0.00M0NW
26... ..
Cloudy
Pt. cloudy
Rain
Rain
Walla Walla
Cloudy
Washington
Winnipeg ..
Yakima !-
( lear
Clear
A. M
Ing day.
today ; tP. M. report of preced-
FORECASTS.
Portland and vicinity Rain, fresh south-
erly winds.
Oregon and Washington Rain, moderate
southerly gales on the coast.
7 . 9e
920
TO GO TO FLORIDA
Charter -of Steamer Valdez to
Carry 3000 Tons Reported.
INVASION MARKS NEW ERA
Shipments of Oregon Product to
Southern States Made Possible
by Higher Railroad Rates.
Charter of the steamar Valdes to
carry a full cargo of flour from Port
land to Jacksonville, Fla., was re
ported yesterday, and confirmation of
the fixture Is expected with the re
sumption of business Monday. The
steamer Valdez. which called here just
before Christmas with freight from
San Francisco, is now on Puget
sound and it is anticipated that she
will come here for loading within a
few days.
The cargo of flour t be taken by
this vessel should amount to about
3000 long tons and will be the first
flour to go from Portland to Jack
sonville by water. This will be the
second shipment of flour from Port
land to the south by the all-water
route, as the steamer Hawaiian, of the
American-Hawaiian line, sailing from
here late in November, carried 16.738
barrels of flour for Charleston, S. C.
The invasion of the southern ter
ritory by Oregon flour marks a new
era for Portland millers, as that sec
tion of the country has heretofore de
rived practically all of its flour from
the eastern and middle-western states
by rail. The placing of flour from
this section in the southern ports
competition with that from other
producing territory which is much
closer geographically has been made
passible only by the recent advances
railroad freight rates. By taking
advantage of the less expensive water
transportation, local millers are thus
enabled to establish an entirely new
outlet for their product.
Small shipments of flour have oc
casionally moved' from Portland to
southern states to satisfy a demand
for the cheaper products milled from
soft wheat, but the movement has
never been on such a scale as is in
dicated by the chartering of a vessel
for a full cargo.
STEAMER ARRIVES AT HA AYAH
City of Topeka Will Be Put Into
Inter-Island Service.
HO.VOL.UL.U. T. H., Jan. 1. (Spe
cial.) The City of Topeka, bought
from the Admiral line by the Inter-
Island Steam Navigation company for
nter-isiand service, has arrived here
and is now being fitted out for its
work. It will go into service early
in the year. Captain W. K. Freeman,
veteran inter-Island skipper, brought
the ship here from San Francisco.
Prior to her e-ale. the Tqpcka was
used in the run to Eureka. Coos Bay
and Portland. The purchase price
was approximately $150,000. The
name of the vessel will be changed
to something Hawaiian, probably
"Moanalua."
Honolulu Gets Revenue Cutter.
HONOLULU, T. H., Jan. 1. (Spe
cial. Uncle Sam's Christmas gift to
Honolulu was a brand new big rev
enue cutter, the Eagle boat Ear p.
which arrived from the coast re
cently. The Earp will be used for
patrol work in an effort to stop the
opium smuggling, which has been on
the increase for several years.
Pacific Coast Shipping Notes.
ASTORIA, Or., Jan. 1. (Special.) Car
rying freight and passengers from Port
land and Astoria, the steamer Alaska
sailed at 8:43 o'clock last night for San
Francisco.
Bringing a cargo of fuel oil. the tank
steamer Frank H. Buck arrived at 0: SO
last night from California and proceeded
to Portland.
The motor schooner Coolcha. Captain
Stoehr, arrived at 0:30 last evening, '
days from AntoTagaata. in ballast. The
craft will take on cargo at Portland. Puget
sound and San Francisco for a return trip
to the west coast.
After discharging freight here, th steam
schooner Willamette left at 1 o'clock this
morning for Portland.
The steam schooner Yellowstone, with
lumber from Prescott for San Pedro, shifted
to the local harbor at S:40 last evening
and is waiting here for better weather
conditions before going to sea.
Rough seas and thick weather are re
ported outside and they are interfering
with the departure of vessels.
The lumber-laden steajn schooners Klam
ath and Trinidad are lying in the lower
harbor while tha schooner C. S. Holmes,
lumber-laden for Callao, is waiting for the
weather to clear up.
The steamer Steel Voyager arrived at
10 o'clock today from British Columbia, en
route to Portland.
Tho steam schooners Ernest H. Meyer
and Celilo are due today from San Fran
CISCO.
The steamer Rose City will be due to
morrow from San Francisco. bringing
tVoifrht und .Dafiscnsera
The steam schooner Santiam will be due
Sunday from San Pedro to load lumber at
the Hammond mill.
The Dutch steamer Bibergen, grain
laden from Portland for Europe, went to
the lower harbor at ":30 this evening.
She will not cross out before tomorrow.
TACOMA. Wash.. Jan. L (Special.)
Shipping offices of Tacoma were closed to
day and li-ttle business tranaacted in ma
rine lines.
The Sudbury, of the United American
lines, bound for New orK. was tne rirat
ssel to depart tnis year ana carnea
capacity cargo from here to east coast
Dorts. The Sudbury got away last nigui
about midnight.
The Prince Afbert, rrom i-nnce rtupori.
B. C. marked the first steamer to enter
this year. The Prince Aioert came in tnis
murnlng and was expected to sail north
bound this evening.
After discharging oil here, the steamer
Port Calendar.
To Arrive at Portland.
Vessel From
Due.
Str. E. H. Meyer. . .
Str. Celilo
Str. Sudbury
Str. Rose City
Str. Multnomah...
Str. Tiverton
Str. Effingham. ...
Str. Daisy
Str. Oregon
Str. Orient City. . -Str
West Kader. ..
Str. Yalsa
Str. Steel Inventor
Str. Mexican
Str. Anyo-Maru. . .
Str. Kelbergen
Str. Dewey
Str. West Isleta
Str. Tokyo Maru .
Str. Ohioan
Str. Eemdyk
.San Fran Jan. 2
. L. A. & S. F. . .Jan. 2
.New York. . . . Jan. 2
-San Fran Jan. 2
.San Fran Jan. 3
-San Fran Jan. 3
Seattle Jan. 4
Jan.
Jan.
. ban Pedro. . .
-San Pedro. . .
U. K
.Honolulu . . .
Phila
.N. Y &S. F..
N. T. A S. F
.Jan. 5
Jan. 7
.Jan. 0
.Jan. 10
Jan. 11
Jan. 12
Jan. 13
. San Fran
. Hampt Rds. . .Jan. 1
Galveston . . . .Jan. 15
. Phlla Jan. 20
. Orient Jan. 22
. N. V. & S. P. Jan. 24
.London Jan. S3
To Depart From Portland
Vessel Pr.
Date.
Str F. H.Buck San Pedro J
Str. Eurydamas V. K Jan. 2
Str. Rose City San Fran Jan. ;
Str. Willamette S. F. & L. A. Jan.
Vessels in Port.
Vessel Berth.
S:r. Coaiet Terminal No. 4.
51. S. Culburra.
. . inman-fouisen mill.
. . Columbia dock.
. . -Associated OI! dock.
. . Inman-Poulsen mill.
..Mult. Lbr. & Bx. Co
Str. Eurydamas-.
Str. r. H. Buck. .
Bkt Hawaii
J. a. Stetson .
Sh John W. Wells. . .Peninsula mill.
Str. Pawlet Terminal No. 4.
Sir. Steel Voyager Terminal No. 1.
Str. West Keats Terminal No. 1.
Str. West Nomentum.CIark-Wilaon mill.
Str. Willamette Couch-street dock.
Toyama Maru shifted down sound on her
wa to the orient tnis morning.
The Beano Aires and Santa Alicia will
be due Monday and maybe possibly Sun
day night from west coast ports via San
Francisco. The vessels have full loads of
ore to discharge here for the Tacoma
smelter. The Alicia has a large amount
of genera; freight to load outward.
Bound for Peru and Chile, the Meriden
of the General Steamship company coast
service was expected to sail tonight. Ths
entire cargo of the vessel ou-t from here
is made up of lumber. x
GRAYS HARBOR. Wash . Jan. 1. (Spe
cial. ) The steamers Providencia and Hor
n;t cleared this afternoon from the An
derson Mlddleton mill. Aberdeen. The
Providencia will carry lumber to Santa
Rosalia, Mexico, while the Hornet will
discharge cargo at San Pedro. Both snips
expected to remain in the lower harbor
ftbtU Sunday.
SEATTLE. Wash., Jan. I (Special.)
On a tour of the Pacific coast to investi
gate trade conditions, Axel Johnson, sole
owner of the Johnson line of Stockholm,
Sweden, will arrive in Seattle. January 10.
Bound for porta in Europe and the
United Kingdom, via Vancouver. B. C, and
California ports, tne steamsnip erring
H.m nf the TTnitUd stt Mnnin board's
European-Pacific line, sailed from Seattle , cutters 23 to 50 cents higher; bologna
last night. The vessel will load 2OO0 tons I bulls 50 to 73 cents higher, beef bulls
of No 1 northern wheat in Vancouver. steady; veal calves $1 to $1.23 higher.
Hailing from Honolulu, via Astoria, the ' heavy calves mostly 50 cents higher; stock
steamship West Keene of the liaison navl-j era and feeders generally steady,
gation company's shipping board fleet, ax-1 Hogs Receipts 7000; lively, 25 to 73
rived in Seattle thia morning. The vessel cents higher than yesterday's average,
brought a shipment of 14,000 cases of, lights up most; top $0.80 on light light.
canned Dinennies and SOO long of olhor,
freight. The vessel will load in this port
for Hawaii, sailing January 10.
The steamship Hyades," owned by tha
Mat son Navigation company, is due in
Seattle January 18, from Hawaii, and WtU
sail for the islands January 24.
As the last vessel to clear from Seattle
for the far east in 1920, the steamship
Mandaatui Maru of Mitsui fc Co. reft this
port for sea at 5 o'clock yesterday after
noon with a capacity cargo of cotton,
steel, lumber and other freight. The ves
sel has a total of 7500 measurement ton
stored beneath her hatches.
Georre R. Walker, resident manager for
Struthers & Dixon, has zone to San Fran
cisco to attend the annual conference of
the rirm's official He will return about
January 10.
PORT TOWN SEND. Wash., Jan. t.
(Special.) After discharging European
cargo on Puget sound and loading a
shipment of general cargo, th steamei
Effingham sailed this morning for Liver
pool. She will call at Portland, for which
port she has cargo. She will load a big
shipment of general freight at Portland
for delivery at European Dorts
C. E. Perkins of St. Louis, vice-president
of the Missouri Pacific railroad, who is
making a tour of inspection of the Puget
sound country, is of the oDinton tnat in
early spring will see a revival of business
in the northwest. Mr. Perkins does not
look for any immediate improvement be
fore the earlv jmrine. hut feels assured
that there will be a healthy restoration of
all branches of industry In this section
within the next few months. He will visit
Portland before his return to St. Louis.
The steamer Sudbury, of the United
American line, sailed this morning for
Portland, for which port she has 300 ton
of general cargo from the Atlantic. She
will load 1600 tons at Portland for ports
on the. Atlantic.
SAN' FRANCISCO. Jan. L (Special.)
Without ever having her hatches removed
to receive a pound of cargo, the new
freighter Narcissus, 4390 net tons, will be
taken by tugs to Southampton bay on
Tuesday, it was stated today. The vessel
was launched for the shipping board on
August 28 last by the Moore Shipbuilding
company. Arrival of the craft at the
board's anchorage grounds will mark the
13th craft to be laid up. There are at
present six other freighters owned by the
government to be shifted to Southampton
hay shortly. The six vessels are now en
route here under operating of managing
agents who will surrender them to the
board upon their arrival.
In command of Captain N. K. Jacobson.
the Robert Dollar freighter Agnes Dollar.
formerly the steamship Admiral Wain-
wrlght. will depart from here on Tuesday
for Mail 11a, Shanghai and Hongkong.
Upon unloading her cargo at the afore
mentioned ports the vessel will enter a
"feeder" service of the. company on the
Tangtse river, picking up cargo at way
ports for the large freighters of the com
pany.
From Honolulu a warning was received
here today stating that Captain P.
Milovzoroff had seized the Russian volun
teer fleet freighter Simbirsk and had put
to pea. The warning was sent out by D.
Lukhmanoff, managing director of th
port of Vladivostok for the Russian volun
teer fleet corporation, owners of the
steamer. In the statement it was reported
that Captain Milovzoroff, following hi
dismissal from the service of the flee
corporation on November 1 last, seized the
vessel and put to sea.
With only 90 tons of merchandise for
discharge here, the motorship Mazatlan,
under operation of Swayne & Hoyt. ar
rived here last night, 19 days from Sallna
Cruz and way ports. The vessel docked
today
In for bunkers, the Japanese freighter
Toha Maru arrived here today from Kobe,
to Dodwell & Co. She will proceed to the
Atlantic.
With a varied cargo from eastern points
the Pacific steamship company's freighter
Ya!za arrived here today from Philadel
phia. Returning from Seattle without cargo In
the coast-to-coast service of the Lurken
bach Steamship company, the steamer
Mary Luckenbach arrived here today. The
shipping board steamer Deliale. Captain
Anderson, left Portland today for Phila
delphia with coast products.
The Union line freighter Waitemata
which put in here en route from British
Columbia to Australia to load fuel and
complete cargo, departed today.
RESERVE STATEMENT OUT
Resources and Liabilities of 12 In
stitutions Indicated.
WASHINGTON', Jan. 1. Resources
and liabilities of the 12 federal re
serve banks at the eloBe of business
Thursday, December 30, were reported
tonig-ht by the federal reserve board
as follows:.
Resources
Gold and gold certificates. .. 2H3.9ri2.00fl
Oold settlement fund F. R. B. 35B.2f4.00l)
Gold with foreign agencies.. 3.300,000
Total gold held by banks.. $ 823,400,000
Gold with F. R. agents 1.276.214.000
Gold redemption fund 158.(123. 000
Total gold reserves $2,0.50.33:1.000
Legan tender notes, sliver, etc. 189,830,000
Total reserves $2,249,163,000
Rllla discounted, secured bv
govt, war obligations $1,141,036,000
All other j.,aio,wAsuu
Bills bought in open market. 255.702,000
Total bills on band $2,974 ,66.000
U. S. government bonds 26,859,000
U S. victory notes 69.000
U S. eertfs. of indebtedness.. 261.263.04)0
Total earning assets
S3. 263. 027. 000
Bank premises
Uncol. Items and other deduc
t'ons from gross deposits...
Five per cent redemption fund
against federal reserves
bank notes f
All other resources
la.saaMwsa
717,267,000
12.752.000
8.S&8.0O0
Total resources
.$6,2o9,517.000
Liabilities:
Capital paid in 99.770.000
Surplus 104.74.V0OO
Gov't, deposits 27,639.000
Due to members reserve ac
count 1.748.979.0O0
Deferred availability items .. 522.6uS.O0O
Other deposits, including for
eign govt, creaita aj.joi.vw
Total gross deposits $2,321,417,000
Federal reserve notes in ac
tuai circulation 3. 344. 686,000
Federal reserve bank notes In
circulation net liability .. 216.9frO.0Ofl
All other liabilities- 121.939.000
Total liabilities $6,269,517,000
Ratio of total reserves to net deposit
and federal reserve note liabilities com
bined 45-4 per cent.
Ratio of gold reserves to reaerai reserve
notes in circulation after setting aside 35
per cent against net deposit liabilities.
00.5 per cent
STOCKS ARE STEADY AT THE CLOSE
o Sales on Holiday at North Portland
Yards.
A single load of sheep. 362 head, reached
the stockyards yesterday, and it being the
last day of the week and a holiday, no
business was reported. The tone of the
market in general was steady at the close.
As compared with the close of the previous
week cattle and sheep prices were un
changed. The best lambs were $1 higher
and hogs, after scoring an extreme ad
vance of $2. closed $1.75 better than the
Saturday before.
The following prices are current at tne
local yards:
Cattle Price.
Choice grass steers $ S.QM 8 75
Good to choice steers 7.500 S.OO
Medium to choice steers..,
7.00 7.150 I
: 50
Common to good steers 3.50$ 0.30
cn.j.ce cows ana neiier a.avr .w
Good to choice cow. heifers. 0 000 6.30
Medium to good cowa. heifers 3.500 6.00
Fair to medium cows, heifers 3 000 5.30
Common to fair cows, heifers 4.000 3.00
Cannera 2.300 3 30
Buils 5.000 6 00
Choice dalrv calves 12.0001:100
Prime light calves 10.00012 00
Heavy calves 6.000 7.50
Best feeders 6.730 7.23
Fa.r to good feeders 3.750 6.73
Hogs
Prime mixed 11.5001200
Smooth heavy 11.00011.50
Rough heavy 7.30010 06
Fat pigs tJIfllM
Feeder pigs 7.300 MM
Sheep
East of the mountain lambs. 0 000 9 30
Valley Iambs 0-000 0 50
Heavy lambs. 90 Iba 7.000 8 50
Feeder lambs 5.000 6.50
I Cui! lambs 5.00
i Light yearlings 6.000 7.00
cavy Yearlings 5.0OCT avaaj
Wether 5.000 6,00
Chicago Livestock .Market.
CHICAGO. Jan. 1. Cattle Receipts
lO(f0. Compared with week ago. beef cat
tle Irregular, steady to $2 lower: greatest
decline on better crades : butcher cows
' nd heifers generally steady; canners and
on lau-pounu averages; duik aa.10
to $9.00; pigs 23 cents lower, bulk deaira
ble SO to 135-pound pigs iu.ts&'IO.
Sheep Receipts 1000. Compared with a
week ago, fat lambs 73c $1.50 lower,
heavy lambs showing greatest loss j ma
tured sheep 25 to 50 cents lower; feeders
about 50 cents lower.
Omaha Livestock Market.
OMAHA, Jan. L Hogs Receipts 45O0
head. Active. Steady to 10c higher; bulk
medium and light butchers. $8.9099;
top, 19. lO; bulk strong, weigh: and packing
grade, S8.50f98.73.
Cattle Receipts 150 head. Market com-
J pared with week ago: Beef steers, steady
to 2oc lower. She- stocK steady. Hulls,
254? 50c higher; veals, 30ctj$l higher.
Blockers and feeders barely steady.
Sheep Receipts 2O0 head. Market com
pared with week ago: Lambs 73c9$l low
er; sheep mostly 2330c lower. Feeding
grades atow to 23c lower.
WHITE H0USE CHANGING
Tennis C4urt lo Be Restored for
Harding, Who Is Xet Fan.
WASHINGTON, Jan. 1. Changes
about the White House and grounds
to meet the wishes of President-Elect
Harding already have been started.
The work of restoring the tennis
court In the rear of the executive
mansion, which has been in more or
less disuse for some time past, has
been started. Senator Harding, being
a golf fan. is also devoted to tennis.
The court became famous in Presi
dent RooseveIts administration when
the little group of men invited to
play there almost daily with the
president became known as "the ten
nis cabinet."
PORTLAND JWAN CHOSEN
George W. Boschke Gets Job With
Southern Pacific Company.
SAN FRANCISCO. Jan. 1. An
nouncement of the appointment of
GeorRe W. Boschke of Portland as as
sistant chief engineer for its lines
west of Portland. Ogden and Kl Paso,
with headquarters at San Francisco,
was made by the Southern Pacific
company here today.
Boschke superintended construction
of the Galveston sea wall. He for
merly was chief engineer of the Oregon-Washington
Railroad & Naviga
tion Company.
DAILY CITY STATISTICS
Marriage Licenses.
ADKINS-BROWN Jesse Albert Adkins,
legal, Heppncr, Or., and Mlrian Brown,
legal, Gresham. Or.
STONE-RUED James Patrick Stone,
legal. Palmer, Mass.. and Agnes S. Reed,
legal. 223 Eleventh street.
ClIRRAN-M ARREN' John P. Curran.
legal. 586 East Broadway, and Katharine
If. Marren, legal, 24 East Eleventh street.
SAMMIS-PiOK Chester C. Sammls. It,
275 Third street, and Juanita M. Pick. 16.
415 East Salmon street.
ROBBRTS-GOUI.TY Carl W. Roberts.
24, 714 Glisan street, and Valma V. Goulty.
21, 4S2 Davenport street.
GARDNER-HEATH Harry W. Gardner,
legal, Linnton, Or., and Minnie R. Heath,
legal. 30 North Twentieth street.
PETERSON-JOHNSON Peter H. Peter
Son, legal, Netherland hotel, and Agnes
Johnson, legal, 1080 East Twenty-third
atrtM-t North.
ESTES-BRCWN Ralph E. Estes. 23,
Hoqulam. Wash., and Gladys Lucille
Brown 19. 526 East StHrk street.
BRANTLACHT-DOWNER Richard C.
Brantlacht, 27, 229 Grand avenuu, and
Caroline M. Downer, 27, 305 Eaat Eleventh
street.
INGLE-YOUNG Hugh C. Ingle. 82. 163
North Eighteenth street, and Edith K.
Young, 28, 1519 East Hoyt street.
KLATT-SAM MIS Walter S. Klatt, 22,
Woodstock station, and Mattle M. Sammls,
10, 275 Third street.
HUBBARD-ALLEN Roland A. Hub
bard. 22, Medford. Or., and Lois Alene Al
len, It Portland.
OTTER-HINKLB Harry V. Otter, legal.
Nappa. Cal-. and Rose Leone Hiukle, legal,
891 Schuyler street.
BRECKENRIDGE-PETERSON George
IT.Breckenridge. 21. Boise. Idaho, and Win
ifred Peterson, 19, 20 Buchtel avenue.
SCOTT-.s.MITlf Lynden D. Scott, legal.
1115 Belmont street, and Mabel G. Smith,
legal. 353 East Eighth street North.
ANDERSON-THOMAS Julias Daniel
Anderson, 23. 125 Grand avenue, and Neva
A. Thomas. 20. 1ROB Division street.
EST LUND - SKOGEN Leo Estlund. 2R.
306 Second street, and Eilzabeth Skogen,
20. 1579 Macrum street.
CAM ARAS - COLLAS Harry Camara.s.
legal, Tigard. Or., and Susie Collas, legal.
Portland.
OLNEY-ALBERT Harry V. OIney. 30.
1461 Minnesota avenue, and Emma Albert.
24. 8838 46th avenue, southeast.
NESS-VAX METER James Henry Ness,
legal, Madras hotel, and Eva C. Va-n Meter,
legal, Madras hotel.
BOWEN-NILES Joseph J. Bowen. 34.
The Dalles. Or., and Laura Winifred Nilea.
21. Portland.
JOHNSON-WILSON Arthur Johnson.
24. 10ul East 12th street. North, and
Arazeta W. Wilson. 21. 1005 Eaat 10th
street. North.
SAFTEN BERG-ALEXANDER Max Saf
t en-berg, legal. 610 East 54th street. North,
and Lou Ella Alexander, legal, 610 East
54th street. North.
SI VAN-YORK George F. SI van. legal.
Portland, and Mabel York, legal, 1519 It
Williams avenue.
SCHMEER-POTTS Herman A. Schmeer.
legal, 600 Henry building, and Jane L
Potts. legal. 1903 Oregon street.
Vanrouver Marriage License. '
DENM AN-HART Herbert R. Dcn.nan,
27, of Carson. Wash., and Grace E. Hart,
20. of Portland.
JAMESON-MALMSTEN William Brook
Jameson. 25, of Vancouver, and Lily Gell
Malmsten, 31. of Vancouver.
BARTON -WAGNER George L. Barton,
legal, of Portland, and Mrs. Margaret
Wagner, legal, of Toronto, Canada.
SALLEE PEDERSEN Samuel Sallee. 44,
of Portland, and Mrs. Edith F. Pedersen.
33, of Portland.
LOGAN-CAMPBELL James Logan, 35.
of Portland, and Willie Campbell, 36, of
Portland.
SUCH-CARTER Alexander Such, 23, of
Devitt, Or., and Hazel Carter. 18, of Dev
itt. Or.
da VNE-MILLSAP Earl S. Davne. 2G,
of Hood River. Or., and Vada E. Mlllsap,
18 of White salmon, wasn.
MATTSON-S1REN AuttI E. Mattson. 31,
of Portland, and Ida M. Siren, 40, of Port
hind. BLTHANA.N-lAKl.BUlN u. A. uucnan
l 28. of Oregon City, Or., and Lillian L.
Carlson, 23, of Portland.
MORGAN-SAUL Norman D. Morgan,
21 of Mare Island, Cal.. and Zaza O. Saul,
18, of Olympia, Wash.
BAYES-BROWN Charles E. Bayes, le
gal, of Portland, and Irene R. Brown, le
gal! of Portland.
McKEAN-SECOR Elbert McKean, le
gal, of Oswego. Or., and MIna Secor, legal,
of Kelso. Wash.
BROKAW-HULL Ray F. Brokaw. 23,
of Estacada. Or., and Mabel Hull. 18. of
Estacada. Or.
ALLEN-McKINLEY Judson L. Allen,
31, of Smith Ferry, Wash., and Harriet
McKinley, 28. of Vancouver
WRIGHT-BYE RLE Y Arthur S. Wright.
35. of Camas, Wash., and Maude A. Byer
ley. 31. of Portland.
OSBORNE-GETTIO Dewey Frank Os
borne. 23. of Portland, and Rose Mary Get
tig. 19. of Portland.
CURTIS-JONES Edward Curtis. 83, of
Portland, and Janet M. Jones, z3, of Port-
H SMITH-GOODNIGHT c. Bar! Smith,
29, of Seattle, and Lillian Goodnight, 26,
of Vancouver.
Al OB -Ale CONN LL Elmer Bichard
Fair to good steers 6JHe
Moe. M. of Portland, and Mrs. Lealys M.
McConnell, legal, of Portland.
TEESON-WHITK Robert Taeson, 24. of
Camas, Wash., and Eva White. 22. of
Camas, Wash.
HAYCOX-LIXN William H. Hsycox.
21. of Portland, and Elsie Linn. 20 of
Portland.
JOHNSTON - MKSSNER William A.
Johnston, 21. of Portland, and Georgia
Mejtsner, 18, of Dole. Wash.
HOLLAND-FORCE Andrew Samuel
Holland, 29, of Portland, and Gertrude A.
Force. 22, of Portland.
GOODVlAN-McCLAIN W. Goodman,
legal, of Independence. Or., and Beulah V.
McCIaln. legal, of Suver. Or.
BACH-HANSON Herbert Bach. 27. of
Portland, and Helen Hanson, 22. of Port
land. BEDbTE-HOWTRT B. D. Bedee. legal,
of Vancouver, and ETfie M. How try. legal,
of Sacramento, CaL
More than 1000 distinguished serv
ice orders of the British army are
awaiting delivery to recipients with
whom the war office can not get In
touch. Most of the benef iciarta
were officers in the world war.
Buyers'
Market
Shrewd buying of the naany
investment bargains now
obtainable is rapidly in
creasing;. Buyers are showing a de
cided liking- for the partial
payment plan where the
full purchase price is not
obtainable.
Any listed bond or stock
may be purchased on
small first payment.
Let s send you a copy of
our latest market analysis
and booklet Thrift -Savings
Investment, explain
ing the partial payment
plan in detail.
Write Dept. PG-33
CiiflRLESrlllflRKSUNfii
66 Broadway, - Nevbrk.
TLifcPHNES R&CTQR. 44
Railroad Bonds With
Unusual Possibilities
In a circular on the bond
situation, which we have for
free distribution, prepared by
one of the (greatest bond au
thorities in this country,
there is a list of one hun
dred investment bargains
in high grade railroad bonds
yielding as high as
8 to 10
Write for p, -.-.7
E. M. Fuller & Co.
M.iuber of
L-mo4kteMd 6Umm &xhug. of X. T.
SO Broad St., New York.
Ckaa Bono.
tDtrtct Pr-vatr Wirt
WHY NOT
INVEST
YOUR MONEY
in a good rebuilt
0LDSM0BILE
Guaranteed by
The Oldsmobile Co.
of Oregon.
A House of Recognized Stability.
Broadway at Couch St.
Phone Bdwy. 2270
investigate:
0VERBECK &
COOKE CO.
Brokers, Storks, Bonds. Cotton,
Grain, 1 r .
216-217 BOARD OF TRADE III AM.
YVUs Wullu, Wash.
Portland. Or.
Pendleton. Or.
MEMBERS CHICAGO BOARD OF
TRADE.
Correspondents of Iogon Bryan,
Chicago and New York,
MsTMBEBfl
New York Stock Exchange.
Chicago Stock Exchange.
Boston Sto4-k Exchange.
Chicago Hoard of Trade.
New York Cotton Exchange.
New Orleans Cotton Exchange.
New York Produce Exchange.
Winnipeg Grain Exchange.
Liverpool Cotton Association.
Farm Mortgages
7
There is no better Investment In
the world than a Rood old-fashioned
farm mortRaKe. We per
sonally inspect all land we loan
on and then Invest our own funds
first. Later we offer the same for
sale to the public. MortBaices are
in our possession and ready for
delivery. Amounts in denomina
tions of $500 up to 114,000 netting
the investor 7.
PACIFIC COAST MORTGAGE t'.
319 Ry. Exch. UlilK. Main 875.
LIBERTY AND VICTORY BONDS
Headquarters for buyinK and sell
ing all issues. Larfro or small lots.
HERRIN & RHODES, Inc.
Established 1896.
Main 23-24.
SOI-2-3-4 Railway Kicb.nne Rldsj.
PAYMENTS
mch month buyj any Stork
ronH Purchasstr rtoatvM
Mdsnds. Writ, for selected
Uct ni booklet -FREE.
QUTH5UK & MC GOVERN"
3XWt n!thAm Jthfprt..ss
i