t
TIIE -SUNDAY' OREGON! AX," PORTLAND, MATiCIT 20, 1921
21
HOP BUYING HEAVY
Oi PACIFIC COAST
Four Thousand Bales Are
Taken at Advances.
ALL MARKETS ARE STRONG
Twenty Cents Paid for Good Quality
of Oregons Bulk of Pur
chasing In California.
There has been extensive buying of hops
on the Pacific Coast In the last few days
at a sharp advance In prices. It Is figured
by local dealers that close to 4000 bales
changed bands In the three states. Most
of the buying was In California where the
bulk of the unsold supply remains.
Up to 21 cents was paid for the best
California grades and 20 cents was paid
for a good Oregon lot. The poorer grades
of hops have also advanced in price with
the betters qualities. There are less than
3000 bales of hops left unsold In Oregon
and dealers report buying more difficult.
The demand, which is almost entirely
from the East, shows a revival of Inter
est by the laree brewers since the federal
ruling was announced permitting the sale
of beer for medicinal purposes. Dealers
inquiries also indicate a better trade wltn
home brewers, which Is to be expected
with the approach of warmer weather.
There is some doubt as to whether the
agitation for an embargo on imports from
Germany can be obtained, as it is under
stood the financial authorities in the East
are opposed to such a move because of
the effect it may have on the exchange
situation, but the hop men here are de
termined that there shall be no let up in
the campaign for a higher . tariff on hop
imports. It is their hope that an emer
gency tariff will be enacted which will
give the hop Industry of the Pacific Coast
immediate relief.
TWO-CENT IKOP IN WHEAT BIDS
Country Prices Down to Lowest Point of,
Season.
Wheat prices dropped again yesterday in
all markets. On the local board bids on
bit grades were down 2 cents and offers
tent to the country were as low as during
the slump in January. The amount of
business done was said to be email.
One hundred tons of May white oats
were sold at the exchange at $34.50, or
fiO cents more than was bid on Fridry,
but offers for the other deliveries were
AO cents lower. There was no demand for
barley. Corn bids ranged from unchanged
to 50 cents lower.
Eastern advices reported the sale of
100,000 to 120,000 bushels of rye for ex
port. Australian wheat shipments for the week
were 1,300,000 bushels and Indian ship
ments were 41G..000 bunhels.
Terminal receipts, in cars, were reported
by the Merchants' Exchange as follows:
f oriiana w nem.uar.r iour.jais.ay.
Haturday 43 1 1
Year ago 78 . . . 22 . . . 2ft
Total this week 243 6 13 . 13 iS
Year ago 303 ... 104 1 115
Neason to dute 12740 2)! t35 42tt 113
Year ago GD02 100 3307 412 11)33
1 acorn a
Friday 5 .. 3 1
Year ago 1! . . . 1H 1 1
Season to date 37NO 47 71 109 770
Vear apro 0123 72 2412 101 731
Seattle
Friday 1 ... 4
Year ago 15 ... 3
Season to date 4000 mi 30 37' 1151
"Year ago 5270 231 C41 022 1122
AVERAGE PRICES ON STOCKS HIGHER
Tax Payment Period Passed Without Dis
turbance of Money Market.
NEW YORK. March ID. Compared with
recent periods, the week on the stock ex
change and in the principal commodity
markets was fairly stable, even though
further liquidation and price depreciation
occasionally assumed formidable propor
tions. Recoveries of 5 to 12 points were made
by' a number of prominent industrials and
specialties. Rails were dull when not re
actionary. Financial and Industrial conditions were
rendered more uncertain by poor railroad
earnings and an expansion of the labor
problem. A comprehensive survey of the
general business situation disclosed in
creasing backwardness in the ateel, copper,
oil and tobacco trades.
The most encouraging feature was the
passing of the critical federal tax pay
ment period without the slightest disturb
ance to money rates. In the open market
H per cent was the minimum quotation for
call loans, but in private negotiations free
supplies at fi per cent were obtainable.
Smaller bank clearings and reduction of
commercial loans were barometers of the
more cautious position adopted by the con
suming public. Preliminary figures point
to another large decline of imports for the
current month.
Gold continued to flow into this market
in large volume from all parts of Europe
and more remote centers. The strength
ening of remittances to certain centers,
Including Italy and so-called war neu
trals, seemed to have little or no relation
to the German Indemnity situation.
SEED POTATOES ARE IN DEMAND
Good Shipping Movement to Points In Cali
fornia. There Is a good movement of seed po
tatoes to California and buyers are op
erating on the basis of $1 to growers. Lo
cal jobbing trade in potatoes continues
slack.
In the east round white potatoes lost
about one-third of the previous week's ad
vance at northern shipping stations, clos
ing $1 to $1.20 sacked. Car lots In Chi
cago held at $1.20 to $1.25. Other middle
western wholesale markets were- firm at
$1.40 to $1.65. At Colorado shipping
points, rurals made further galna of 15
to 20c, reaching $1.15 to $1.25 f. o. b. cash
track to growers and at Idaho points
' closed 25 to 30c higher, around $1 wagon
loads cash to growers. Round whites lost
most of the previous week's gains at New
Tork shipping stations closing $1.05 to
$1.10 sacked. Bulk stock held at $1.50 to
$1.65 In New Tork. Maine Green Moun
tains were steady f. o. b. at 95c to $1.05
bulk. Sacked stock made further ad
vance of 15 to 20c In Boston to a close of
$1.60 to $1.65.
' Shipments of potatoes continued to In
crease, . the rate of movement reaching
3773 cars, compared with 3349 the week
before and with 2452 during the corre
sponding week a year ago.
TWENTY CENTS OFFEBED FOR EGGS
Burins Price Cat Owing to Lack of Ship
ping Outlet.
The lack erf a shipping outlet for eggs
Is- putting the local market lower. . Yes
terday's large receipts were taken at 23
cents, but the lending buyers announced
they would pay only 20 cents for Monday's
arrivals, as they could see nothing to do
with them except put them Into storage.
Kfforta to find some place In tha western
territory that would buy eggs, ven at
the current low prices, failed. Local con
sumption Is heavier, but It calls for only
small part of tha dally receipts. The
eastern egg markets were lower yesterday
at Chicago, storage pack sold In carlota
at 27 cents.
The butter market was weak ax th
close with practically no demand for
cubes. It was expected announcement
would be made of a decline In prints
Monday, but it was not forthcoming. The
market, will probably be lowered Tuesday.
The poultry market was firm with small
receipts. Dreeeed pork was Jso firm and
veal waa weak and slow.
LOCAL APPLE TRADE IS BETTER
Sales of' Oregon Fruit at ew York and
- ( Boston Auctions.
There waa a good local movement In
apples during the week, both red and yel
low sorts meeting an improved demand.
Prices were on a firmer basis and ranged
as follows, according to size and grade:
Winesaps, $1.50)4; Spitzenbergs, $2.253;
yellow Newtown. $1.39 P 2.75; Arkansas
Blacks. II.50 4J3.
At the New Tork auction, Oregon ap
ples sold as follows: 1505 boxes Newtowns,
extra fancy, medium to large, $1.45
2.05, mostly $1.451.00; small lot as high
aa $2.853.25; 875 boxes Winesaps. extra
fancy, large, $3.40; medium. $2.30 3,
mostly $2.302.65; small, $1.75i)2.15;
fancy medium. $2.35; small, $1.0002.15;
1460 boxes Newtowns, choice, best large,
$2.853.25; poor condition all sizes. $1,600
225; 2320 boxes Newtowns, extra fancy
large, $2.653.30; one small lot, $2.62
8 45; medium, $1.8502.33.
At the Boston auction a car of Oregon
Arkansas Blacks, extra fancy, all sizes,
said at $2.10 9 3.85, averaging $2.65;
fancy, all sizes, $202.93, averaging $2.61.
Flour Production Is Lighter.
There ha, been a marked decrease In
(lour production In th northwest this
year aa compared with last year. The
output of Portland. Seattle and Tacoma
mill In barrels from July 1. 19-0. to
March 1, 11)21. compares as follows:
1921. 1920.
Portland 701,438 1.04!,R!)
Seattle Rf.J8 l,2im.42
Tacoma 523,71 1.2'JH.GH
Total 1.811,784 8,858,002
PORTLAND MABKET QUOTATIONS
Grain, Flonr, Feed. Etc.
Merchants' Exchange, noon session.
Bid
Wheat Mar. April. May.
Hard white ,1.39 1.40 $1.40
Soft white I 1.38 1.38 1.38
White club 1.37 l.tbM 1.38
Hard winter 1.33 134 1.34
Northern spring 1.82 1.83 1.33
Kcd Walla 1.32 1.33 1.33
Oats
No. 2 white feed 33.50 34. 2S 84.00
ilillrun 25.60 26.25
Corn
No. 3 E. Y. shipment. ..80.00 30.50 30.60
FLOUR Family patents, Jfl.80; bakers'
hard wheat, ID. 50; bukers' bluestem pat
ents, ; valley patents. $7.90; whole
wheat. 18.20; gr.-.ham. 18.05.
, M1LLKKKD Prices f. o. b. mill; M'.ll
run, $2! per ton: rolled barley, (41643;
rolled oats, (43; scratch feed, (55 per ton.
COH.N Whole, ; cracked, 4- per
ton.
HAY Buying- prices f. o. b. Portland:
alfalfa. 111! per ton; cheat. 2223 per
ton; clover, JIB; vallty timothy, S2526;
eastein Oregon timothy, $27.
Hairy and Country Produce.
BUTTER Cubes, extras. 3040c; prints,
parchment wrapped in box lots, 45c; car
tons, 4Uc. Butterfat, buying price A grade
42c; B grade. 40c Portland delivery.
K'jbS Buying prices, case count. 23c
delivered; Joll)ing prices to retailers, can
dled ranch, 2w2Sc; selects, 230c.
CHEESH Tillamook triplets, price to
jobbers f. o. b, Tillamook, 33c; Young
Americas, S4o lb.
POULTRY Hens. 2TS30c: ducks. 4B
50c; geese, 25c; turkeys, live, 3ac; do
Pressed, 45)50c.
PORK. Fancy, lflc per pound.
VEAL Fancy, 17 14 18c per pound.
Fruits and Vegetables.
FRUITS Navel oranges. $3.3.1(35.50;
lemons, $3.504.75; grapefruit, $3.25(&'8.50;
per box; bananas, lO&llo per pound; ap
ples. $1.83fr4 per box.
VEGETABLES Cabbage, 2Sstf3Vic per
pound; lettuce, $4.00tM.25 per crate; car
rots. $1.25 per sack; garlic, 1520c pound;
beets, $1.50 per sack; cauliflower, $1.50 per
crate; celery, $4.505.50 per crate; green
peppers. 30fr4ac per pound: rhubarb, low
20c pound; spinach. $11.50 per box;
turnips. $2.00 per sack; sprouts, 2025c
pound; tomatoes, $4.75 per lug; cucumbers,
$34 per dozen; peas, 20c pound; aspara
gus, 22ry'2oc per pound.
POTATOES Oregon. $11.23 per 100
pounds; Yakima, $1.601.75; sweet po
tatoes, $3.75 per hamper.
ONIONS Oregon, $lgl.50 per sack.
Staple Groceries.
Loral Jobbing quotations:
SUUAK (sack basis) Cane granulated,
0c per pound; beet, 9.15c per pound.
NUTS Walnuts, 1535c; Brazil nuts,
31c: filberts, 159 21c; "almonds, 283c;
peanuts, 10 11c per lb.; cocoanuts, 32 per
dozen; pecans, 23c; hickory nuts, lCxC
pound.
HONEY Comb, $7.73 per case.
KICE Blue Rose, 6c 1er pound;
Jauan sayle, 4c per pound.
BEANS Small white, 3Hc; large white,
S'ic; pink. IMc lima, 8to: bayou, 1114c;
red, IVaC per pound.
COFFEE Roasted, bulk, drums, 14 30a
-per pound.
.SALT Granulated, bale, $3.50ii? 4.23;
half ground ton, 50s, $17.75; 10 Us, $15.50;
lump rock. $20. .
DRIED FRUITS Italian prunes, 7o
pound; dates, $3.757 per box; figs, $20
1.75 per box.
Provisions.
HAMS All sizes, 3037c: skinned, 2C
30c; picnic, 17Sllc; cottage roll. 30c.
BACON Fancy, 43&33C; choice, 30
35c; standard, 20 28c.
LARD Pure, tierces, 17c pound; com
pound, tierces, 12c.
DRY SALT Backs, 22025c; plates, 18a
Wool, Hops, Etc.
WOOI. Nominal.
TALLOW No. 1. 5c: No. 2. 4e pound.
CASCARA BARK 1020 peel, 8c pound.
HOPS 1820 crop. 16tf20c per pound.
MOHAIR Nominal.
GRAIN BAGS Carlots. 7c, ooast.
Oils.
LINSEED OIL Raw, In barrels, 94c;
5-gallon cans, $1.09. Boiled, In barrels,
0oc; 5-gallon cans, $1.11.
TURPENTINE In drums, 94c; 5-gallon
cans, $l.Vtf.
COAL OIL. Tank wagons and Iron bar
rels. 1714c; cases, 30jj37c.
GASOLINE Tank wagons and Iron bar
rels, 3oe; cases. 42 Sic
QUOTATIONS ON DAIRY PRODUCE
Market Price Ruling on Batter, Cheese
and Eggs.
SAN FRANCISCO, March 19. Butter
Extras, 3c; prime firsts, nominal.
Eg-gs Fresh extras. 32c; extra firsts,
80c; firsts, 2SV4c; dirties, 29c; extra pul
lets, 80c; undersized do, 2Sc
Cheese Flats, fancy, 27c; firsts, 2214c.
Young Americas, 22714c.
CHICAGO, March 19. Butter Higber.
Creamery extras, 45c; standards, 41 fee.
Eggs Lower. Receipts, 28,074 cases;
firsts, 2424V4c; ordinary firsts. 2162c;
at mark, caaes Included. 23 23 140.
NEW TOP.K. March 19. Butter Firm.
Creamery higher than extras, 4514 & 40c;
extras. 45c: firsts. 41 44 14c.
Eggs Weak. Fresh gathered extra
firsts, 31932c; do first. 2814 31c.
Cheese Irregular, unchanged.
SEATTLE, March 19. Eggs Select local
ranch, white shells, 82c; do mixed colors.
30c; pullets, 27c
Butter City creamery, In cubes, 44c;
bricks or prints, 45c: country creamery
extras, cost to Jobbers. In cubes, 41c; stor
age. Sac -
Cottoa Market. -
NEW TORK, March . 19. Cotton, spot
quiet. Middling, 11.55c.
We offer subject to prior sale unsold portion of
20,000 Shares Treasury Stock. of
AutomaticElectricBrake Company
At $5.00 a Share
A Portland Industry of unusual merit. Thla company In now manu
facturing electrically operated brakes especially designed for Motor
Trucks, Trailers and touring cars. The design of this braking de
vice has been recently featured in the automobile section of the
leading; Portland, newspapers, , .
We can conservatively recommend this stock to Investors desir
ing to employ their capital in tne upbuilding: of an established
industry where added capital will insure success.
Descriptive circular mailed upon request.
H. E. WILLS COMPANY
Fiscal Agents
316 U. S. BANK BLDG. . PORTLAND, OREGON
COfE!jLIFTSSTOCKS
FURTHER GAIXS MADE IX NEW
YORK MARKET.
Liberty Bonds Do Xot Retain All of
Week's Gains Mercantile Re
ports Are More Favorable.
NEW TORK, March 19. Aside from the
eustomary week-end settlements of short
contracts at fairly substantial advances,
today's short session of the stock mar
ket was duil.
Atlantic Gulf moved contrary to th,
general list. Rails almost as a whole were
In the background. Sales were 373,000
shares. V'
The clearing house weekly report
showed the relatively small Increase of
about $33,000,000 In actual loans and dis
counts. Reserve of members at the Fed
eral Reserve bank decreased by almost
S3.,0OO.UOO. effacing most cf last week's
gain and a contraction of slightly over
$81, 000,000 In cash holdings reduced the
excess reserve to $3,440,000.
A more hopeful note was sounded In
tne general news, authoritative trade re
views reporting a gain In the wholesale
drygoods business over last year. Mer
cantile conditions were better ss to col
lections snd further shrinkage of failures
is inrucatcd.
Liberty issues were again disposed to
recede, but the bond list otherwise was
steady on a very narrow turnover. Total
sales, par value. $4,675,000.
Dealers reported more than the osusl
sctivity In foreign exchange. Rates on
Paris were unchanged, but the London
quotation hardened with an appreciable
gain 'for th, Italian lire, also Austrian
Kronen.
CLOSING STOCK QUOTATION
S.
Last
Sales. High. Low.
Am Beet Pug 200 43 Hi 43
American Can 900 21111
Am Car & Fdy 2ofl 126 122i
A H & L. Dfd 1.0(10 914 '4
Am Inter Corp ! 4314 4;t4
Americn Loco !Hm 87 SB 14
Am Sm & Big BtKt 40 40
Amercn Sugar 1,000 95 93
Am Sum Tob 1,100 80V4 79
Am Tel A Tel 1.S00 100 100
Amer Woolen ' 8,2i0 6St 6614
Anaonda Cop 200 3S14 3i4i
Atchison BOO 8114 1
All. Glf 4 W I 23.200 35 83
Baldwin Loco 4.200 8744
Bulti Ohio 300 83 K3
Beth Stl "B" 1 800 KTT4 57
Bale.
4344
2-j
122
. 914
431,
94
70
67
S7
81 '4
F4
88
57
Calif- Petrolem 200 42 42
4:
nanad Pacific 5110 11314 113
liHli
.:eniri Leatner 6.300 4014 30
Chand Motors 5.500 80ii lS
ChesD & Ohio 300 5!)
Oil. R I P 2(H) Bl fil
Chino Copper. 600 204 20-14
Corn Products 4.2WI 74H 7:i'4
Crucible Steel. 7.500 91 't 0'A
Erlr, 700 1214 12
Genrl Electric 2o0 137 137
Generl Motors 6.2IM 134 1314
Gt North, pfd 1.8O0 744 74
Insprn" Copper floo 33 33
It Me Ma. pfd 600 1314 :3'4
Internl Nickel 1.700 J514 1474
Internti Paper 3.700 5814 5614
K C Southern 900 22 2
Kenne Copper 700 18 18
Louis 4 Nash 300 90 19 V4
Mex Petrolem 9.000 14S H7'4
Miami Copper 200 . 17 3T4
Mid States Oil S.0OO 13 i27
Missouri Paclf 4O0 IS iS
Nev-ida Coopr 200 0 0 T4
N Y Central 1,000 7034 70
N Y. NHAH 5.400 16 15
Norfk & West 500 m pf,
Northn Pacific 2.400 7014 78'4
Ok Prd & Rfg 800 3 S'i
Pan-Am Petri 2.000 72 71 4i
Pennsylvania.. 11.000 8574 "
Reading 8.700 6.SI4 s
Reo Irn ft Stl 200 6S14 67 4
Ry Dlch N Y 1.000 63i 6311
Sin Oil Rfg 5.000 23'4 22
Southn Pacific 3.300 74 V "4
South Rallwav 1.100 20 " 20
S O. N J. pfd 600 107 10714
Sturtebkr Corp 20.100 !) 88
Texas Co 000 41 T4 41
Texas ft Paclf 200 21 21
Tobc Products 8.1O0 471j 4714
Transcontl Oil 5M0 814 8 4
Union Pacific. 300 lis 118
U S Fd Pdts 1.300 23 22
U S Ind Alco 2.000 7014 !
U S Rtl Stores 5110 40 46
40
so 14
B
61
20
74
9014
12
137
1311
74
33
3314
1514
5814
?2
7S
99 74
14714
17
13
18
'0
16
'.
70
3 '4
72
:-.-.14
"S
P714
4314
23
'414
2n
10714
bOS
4174
.t5
118
22
,74
46
7114
81 '4
100
4S74
48 "4
7
U S Rubber., 4.300 71 14 70
IT S Steel 13,700 81 81
V S Steel, pfd 300 110 1094
Ulah Copper. 8.600 4974 48
Westg Electric 300 48ifr 48
Willys - Over 3O0 7 7
BONDS.
U S 2s reg BftN P 4s
do coupon ....00;n P 3s
U S 4s reg 10414'Pac T ft T Ss..
do coupon ..104!4'Pa con 4Un
. 5414
83
. 86
92
. 84
. 80 74
. 9514
Pan 3s cpn....-80!48 P ctBs....
A T & T cv 6s. 97 K ISO Rv 5s. ...
Atch gen 4 7714IU P 4s
D ft R G con 4s 6314 U S Steel 6s.
NYC deb 6s.. 89
Bid.
Mining Stocks at Boston.
BOSTON, March 19. Closing quotations:
Allouez 10 North Butte ... IUI41
Ariz Com 7 Old Dom j 17V.
Cam & Ariz ... 4514lOsceoia 26
Calu ft Hecla.,221 IQuincy 3s w
Centennial .... 814suparior ... 3S
Copper Range.. 3214,8up & Boston... 174
East RuttA
oijShannon 1
154'Utah Con 414
1. IWInona 50
TilWolverlne n
46 jOranby Con ... 2114
Franklin
Isle Royalle .
Lake Copper.
Mohawk
Money, Silver, Etc.
NEW YORK, March 19. Prime mercan
tile paper 7 .j6 7.
Bar silver, domestic 9914, foreign 57
Mexican dollars 43c
LONDON, March 19. Bar silver 33V.d
ff." MMne 5 per eent- discount
,t,e'.fhort bllu 7 Per cent- 'kree months
bills 64 per cent.
Liberty Bond Quotations.
NEW YORK. March 19 Liberty bond
quotations closed as follows.-
Lib. 84s 90. 621 Lib. 4th 4Us
do 1st 4s 87.00iVictory 3s
do 2d 4s 87.00 do 4s
do 1st 4Ui: . 7 an "
.87.14
97.16
97.12
do 2d 414s. .. 8694 "Bid.
do 3d 4s 90.201
RESERVE RATIO MAKES S.MALI, CAIN
Increase of 1-10 Per Cent Is Again Re
ported by Federal Board.
WASHINGTON. March 19. Combined
resources and liabilities of the 12 federal
reserve banks were as follows at the close
of the business March 18:
Resources
Gold and gold certificates...! 266 431 000
Gold settlement fund, federal
reserve board 514.072.000
Total gold held by banks.. $ 780.503,000
Gold with fed'l reserve ag'ts. 1.257.807 000
Gol redemption fund 167.729,000
Total gold reserves $2,206,0.19.000
Legal tender notes, silver, etc 209,250.000
Total reserves $2,415,289,000
Bills discounted, secured by
U. S. govt, obligation 1,000.380.000
All other 1,224.533.000
Bills bought in open market. 122.780. 000
Total bills on band $2,347,699,000
V. a. government bonds, 25.845 000
U. S. victory notes 10,000
U. S. certif. ot indebtedness.. 284. 951.000
Total earning assets $2,658,514,000
Bank premises 20.465,000
5 redemption fund against
fed. reserve bank notes.... 12, 428.000
Gold abroad In custody or in
transit S. 300,000
Uncollected Items 716.882.000
All other resources 9.891.000
Total resources ....
Liabilities
Capital paid In ......
Surplus
.$3,886,769,000
. .$ 101.058.000
. . 202.036.000
Government deposits 58.78.1.000
Due to members' reserve acc't 1,677,774,000
Other deposits. Including for
eign gov't credits 88.072.000
Total deposits $1,774,835,000
Fed. reserve notes n actual
circulation J,26,880.000
Fed. reserve bank notes in cir
culation, net liabilities 179.250.000
Deferred liability Items B70.4ri7.000
All other liabilities 48.003.000
Total liabilities $5,836,709,000
Ratio of total reserves to deposits and
federal reserve note liabilities combined,
fil.O pep cent.
Ratio of gold reserves to federal reserve
notes In circulation after setting aside 85
per cent against deposit liabilites, 60.1)
per eept.
Foreign Bonds.
Foreign bond quotations furnished by
the Overbeck & Cooke company of Port,
land:
Bid. Ask.
Russian B14s, 1921 15 17
Russian 814s. 1026 10 12
Russian 6",s. 1 16 18
Frecnh 6s, 1031 54 B6
French 4s, 1017 45 47
French 5s, 1020 67 U8
Italian Bs, 1018 28 -9
British 5s, 1U22 382 894
British 5s, 11127 870 882
British Bs, 1929 868 SsO
British vky 4s 208 810
British ref 4s 275 27
Belgium rest Bs U6 OS
Belgium, prem 5s...., .. 70 72
German W. L. (is J2 1814
Berlin 4s- , ,1214 iS Is
Hamburg 4s 14 15
Hamburg 414 s 14 15
Lelpsig 414s , 15 16
Leipsig Bs 14 15
Munich 4s 17 19
Munich Bs 13 1614
Frankfort 4a 6314 68 7e
Jap 4s 82 6214
Jap 1st 414s 82 S-1.-!
Jap 2d 414S UBli I6
Angle-French 5s 99 (!
U K 514s. 1021 84 95
U K Bits, 1022 88 Soli
U K B14S, 1U37 b5 851s
Swbit & Co. Stocks.
Closing prices for Swift Co. stocks at
Chicago were reported by the Overbeck dfc
Cooke company of Port. and as follows:
Swift & Co ,..,.10lfe
Swift International -G'.a
Libby, McNeil & Ubby 10
National .Leather i
Foreign Exchange
Foreign exchange rates at close of bust
ness yesterday, furnished by Northwestern
National bank of Portland. The amount
Quoted Is the equivalent of the foreign
unit in United (States funds:
Cheques.
Austria, kronen , $ .Oitftt
Belgium, francs 0742
Uulgaila, leva ol3S
Cauch- -Slovakia, kronen .0130
Denmark, kroner 1701
England, pound sterling 3.125
Finland, finmark "-'J0
France, francs 0710
C!. rmany, marks 0117
Greece, drachrrms .07.1!.
Holland, guilders ,34o3
Hungary, kronen 0o38
Italy, lire 0420
J ugo-Slavia, kronen 0077
Norway, kroner 1025
Portugal, encudas 00o5
Houmania, lei 0144
Serbia, dinara , , .03110
Spain, pesetas ,.. .1411
Sweden, kroner , .2325
Switzerland, francs 17al
China Hongkong, local currency... .4H75
Shanghai, taels ouu
Japan, yen ,..... .4525
I7EW TORK. March 19. Exchange firm.
Sterling demand 3.!il , cables 1 9.02. ;
francs, demand 6.95, cables 6.07 ; Belgian
francj, demand T.27, cables i.w, guilders,
demand H'.35, cables 31.45; lire, demand
4.00, cables 4.11; marks? demand 1.60,
cables 1.61; Greece, demand 7.46; Argen
tir j. demand 34. CO; Brazilian, demand
14.62; Montreal 12 per cent discount,
' Large Decrease In Rserves.
NEW YORK. March 19. The actual con
dition of clearing house banks and trust
companies for the week shows that they
hold $3,440,000 reserve in excess of legal
requirements. This is a decrease of 531,
243,000 from last week.
CONTRACT STOCK AT LOCAL YARDS
Xo Sales In Open Market on Closing Day
of Week.
The only arrivals at the stockyards yes
terday came in on contract and there were
no sales in the open market. The receipts
were 72 hogs and 577 nheep. The tone
f the - market at the close of the week
was steady.
The following prices are current at tne
local yard: i
Cattle trices.
Choice steers ......$ 7.75 8.25
Medium to good steers 7.00 7.75
Fair to medium steers 6.25& 7.00
Common to good steers 5.25 4 7.00
Medium to good cows, iieirers b.toqp 6.25
Fair to medium cows, heifers 4.25 fi) 5.25
Common to fair cows, heifers 4.25& ft. 23
Canners 2.00 4.23
Bulls 3.50tf 5.00
Choice dairy calves ., 12.50(13 50
Prime light calves u.ur 12.50
Heavy calves 6.00 7.60
Host feeders 6.00(9 6.75
Fair to good feeders 5.75 6.75
HOJTE
Prime light 11. 50 12.00
Smooth heavy 11.00(1150
Rough heavy 7.0010 00
Stags, subject to dockage .... 6.00410 00
Fat pigs 10.00&11.50
Feeder pigs 10.0011.50
sneep
Bast-of-Mountain lambs 8.50 9.25
Valley lambs 8.00 8 50
Heavy lambs. 90 lbs. and up.. 6.50 8.00
Feeder lambs 6.00 6 7.50
Cull lambs 4.00(9 6.00
Light yearlings 7.00c5 7.50
Heavy yearlings 6.50i) 7.00
Wethers 5.50 6.50
Ewes 1.50 5.00
i
Chicago Llvefttnck Market.
CHICAGO. March 19. Cattle Receipts
1000; compared with week ago, beef steers
2550c lower; spots off more on heavies;
butcher cows and heifers mostly 25c lower;
bulls, stockers and feeders steady to 25c
lower; veal calves 75c to SI lower; spots
off more
Hogt Receipts 3000; light and medium
scarce, 15 to 50c higher; others slow;
mostly -weak to 15c lower than yester
day's average with another holdover of
heavies; top. 111.35; bulk, 200 pounds
down. $U11.23; bulk, 220 pounds up,
$9.50010.35; pigs, strong to 25c higher;
bulk desirable, 90 to 120-pound pigs,
$10.5010.75.
Sheep Receipts 9000; receipts today
practically all packer direct; compared
with week ago, light and handy lambs,
50 to 75c lower; feeders less; heavy lambs
mostly SI off: ewes about 25c lower; weth-
Reason
There is sound reason behind an investment
of funds in Portland Flouring Mills First
Mortgage 8 Gold Bonds. In the first
place, these bonds pay you $80 a year on
each $1000 invested. On a long-term in
vestment (these bonds mature in fifteen
years) such a large yield becomes exceed
ingly attractive. '
In the next place the security back of these
bonds makes them attractive. Consider that
each $1000 bond is secured by m6re than
$3000 of property of Ohich nearly half is
quickly convertible into cash if required.
Dated January
ers around 50c lower; yearlings 60o to
$1 lower.
, Omaha Livestock Market.
OMAHA, March 19. Hogs, receipts
20U0: bulk of upply to shippers, mostly
25c higher. Bulk medium and light
batchers. .7610; top. 10.2o; bulk,
strong weight butchers, J9.259.5.
Cattle Keceipts 60: market compared
with week ago: Beef steers 60c to Jl
lower- week top, 10; butcher stock and
veals mostly 2R50c lower; atockera and
feeders, 5018175c lower.
Sheep Keceipts 200; market compared
with week ago: Lambs mostly 60c 0 $1
lower; heavies at moat declines; sheep and
yearlings weak to 23c lower; feeders
steady. .
Kansas City Livestock Market.
KANSAS CITY, Mo., March IB. Cattle
Keceipts 150; for week: Beef steers 40
75c lower; she stock mostly weak to 25c
lower; some off more; canners weak; bulls
25c lower; calves 50cl lower; atockera
and feeders 25 75c lower.
Sheep No receipts: for week: Sheep
steady; yearlings 2540c lower; lambs
75c&l -lower.
Seattle tivestock Market.
SEATTLE. March 18. Hogs Receipts
none. Steady, prime, 11.8012; medium
heavies, (10.60$ 11.50; rough heavies, $8.60
!); pigs, 11.50.
Cattle Receipts, none. Weak. Prima
steers, $7.508; medium to choice $97;
common to good, $4.60S; best cows and
heifers, $8.256.75; medium to choice, $5
$j(t; common to good, $3,6065.60; bulls,
M.Mi 5.!S0; calves, light. 110.50 12; heavy,
$s.507.
enough for
Then consider the character of the Company
a soundly established, soundly financed,
soundly managed corporation, engaged in
manufacturing an essential food commodity.
From whatever angle you care to test these
bonds yield, security, maturity, market
ability, character of the borrowing company
you will find them good bonds for, you to
have and to hold. 1
Why not now when the matter is in your
mind decide . to call, write or phone, for
descriptive circular. Do it today.
Blyth, Witter, a Co.
Yeon Bldg., Portland
Seattle, San Francisco, Los Angeles,' New York
Tax Exempt Municipal Bonds .
Yielding
7 ''
Subject to prior sale we offer
Medford Irrigation District
(A Political Subdivision of Jackson County, Oregon)
6 Gold Bonds
Amount of Issue
$777,
1st, 1921
Denomination $1000 and $500
Principal and semi-annual interest (January and July 1st) payable at the office of the County
Treasurer, Jacksonville,: Jackson County, Oregon.
VALIDATED BY SUPERIOR COURT OF JACKSON COUNTY AND A
- CERTIFIED BY THE SECRETARY OF STATE
Approved by Oregon securities commission as legal investment for Savings Banks, Trust
Funds and Insurance Companies and eligible to secure public deposits in the State of Oregon.
Legality approved by Messrs. Goodfellow, Eells, Moore & Orrick, San Francisco.
INVESTMENT FEATURES
A DIRECT OBLIGATION OF THE ENTIRE DISTRICT
THE LIEN CREATED BY THESE BONDS IS PRIOR TO FIRST MORTGAGES
Medford Irrigation District is situated in the Rogue River Valley immediately surrounding the city of
Medford, and comprises an area of 10,000 acres, of which 97 per cent is in a high state of cultivation. Over
50 per cent of the acreage is in commercial bearing orchards, the remainder being given over to alfalfa
and grain. This district is an old established one and has been irrigated for many years. The land is
widely held and intensely farmed, there being 540 separate land holders. The district is traversed by the
main line of the Southern Pacific Railway and by the Pacific Highway (paved). The purpose of this issue
is to" purchase the present gravity system and extend and enlarge it.
y
Appraised value of land and irrigation system $3,231,532.00
Total bonded debt, including this issue. 1,250,000.00
Population of District, 3500.
Complete Descriptive Circulars With Pictures Furnished Upon Request
PRICED TO YIELD 7
ORDERS MAY BE TELEGRAPHED AT OUR EXPENSE
Bond Department
Union Trust Company
of Spokane
Affiliated With The Old National Bank
Smoked Meat Higher, I.ard Lower.
Advances of 1 cent on hams and If
cents on bacon were announced yesterday, i
Local lard and shortening declined half a
cent. Eastern cooking oils and fatj de
clined as'S'SAc a case.
City of
Portland
10-year 0 Bonds
at 101 to yield abont 5.80
Iinme Tax Exempt
Freeman,
ami i n
amuND Piooa
iBmnmanB BuiLoma
Pimi am Stajuc
mwr s?40
Camp
Co.
anyone
,000
Due
Every -Investor
now trying to decide upon
" the best medium for in
vestment so that full ad
vantage may be bad of
prevailing high interest
rates should have a copy
of our carefully prepared
pamphlet which covers
comprehensively both the
stock and bond markets
and in different groupings
shows those issues that
we consider most desira
ble. ,
The opportunity to pur
chase high grade securities
on a price basis to return
7 per cent and 8 per cent
and better is gradually
passing.
Write today for copy of
Bulletin PG-45. Sent free
upon request.
CfiRRLES RClBRKEDN & Us
66 BROADWAY NEW YORK
TELEPHONES: RECTOR 4663-4
OVERBECK &
COOKE CO.
Broken, Storks, Bonds, Cotton,
(irain. Etc
Z1S-Z17 BOARD OF TRAPS BLDG.
Walla Walla, Wash.
. 1'ortlantl, Or.
remlleton. Or.
MEMBERS CHICAGO BOARD OF
TRADE.
Correspondents of Loirs n A Brjan,
Clikago and c Vork.
MEMBERS
NfW Tork Stock Kxrhanira.
Chiraxo Stock Kxchana-e.
Boston Stock Exchange,
f hicaro Board of Trade.
New York Cotton 'Exrhanjre.
New Orleans Cottoa Kxclianiro.
New Vork Produce Exchange
Winnipeg; Grain Exchange.
Liverpool Cotton Aseociatioa.
ALLEN BROS. CO.
BROKERS
Correspondents
The Chas. B. McLaln Brokerage Co.
Established lf14 Denver, Colo.
HTOCK9 GRAIN
(Stocks Listed Now Tork Exchange)
S 16-8 17 Chamber of Commerce Bids,
fhone 611-16
Serially 1927-1934
The Trend of the
Stock Market After
Presidential Inaugurals
As the past in this con
nection has invariably
served as an index for the
future, it is interesting to
note what the present year
promises for the stock .
market, as is depicted by
a graphic chart contained
in a circular we have com
piled on the outlook,
which will he sent to any
one free of charge and
without obligation.
Atk for PG-1
E. M. Fuller & Co.
Msatberi of
Ceasolidsted Stock Juohaare of N. T.
50 Broad St., Naw York
New York ChRtfo ClerclsaJ
Piltiburih Boatoa
tDirtct Privott Wint)
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