The Sunday Oregonian. (Portland, Ore.) 1881-current, October 09, 1921, Section One, Image 21

The Sunday Oregonian., October 09, 1921, Section One, Page 21, Image 21

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Newspaper Page TextTHE SUNDAY Oil EG ONI AN, PORTLAND, OCTOBER 0. 1021 IIBEHTIES STILL CLIMB BUYINO 18 HEAVY AT BEST PRICES THIS YEAR. First 4 Iicad With Advance of 200 Points Oils and To- baccos Firmest of Stocks. NSW TORK, Oct. 8. Trading la stocks today was confined largely to oil and to bacco shares, a majority of these Issues showing substantial gains at tba firm close. More crude oil price advance were an nounced by leading producers. This gave additional Impetus to the demand tor oil shares. HouHton led at a net gain ot 8 points. Foreign Issues also strength ened after early hesitation. Mexican Pe troleum and General Asphalt finishing at advances of 1 and IV points, respec tively. Hecugnlred leaders of the Industrial and railway groups moved within narrow limits, but the popular steels, equipments and motors scored moderate gains. Among specialties, aside from pressure directed against Columbia Uraphaphone preferred, chunires were trifling. Hales amounted to ' s.'i.oou shares. There was not letup to the demand for liberty bonds, dealings again centering around the 3tts and 4!4. but the great est gain was made by the first 4Ks. these advancing -00 points to a new high for the year. The second 4s and all the i' alao made new maximums for that period at extreme gains of -5 to 00 points. Total sales, par value, 97.T7o.0OO. The clearing-house statement was de void of special feature, except for an" ac tual cash gain of I38.802.OUO, which more than canceled last week's deficit ot re serves, leaving an excess of approximately 128.000.000. sterling or British bills dominate! the foreign exchange market, the 'demand remittance rising to (3.60, a gain of 8 cents in the pound from the week's low quotation. All principal continental ex changes were better, but the Oorman and central European rates lots ground, Ureek bills also making another recession. CLOSING STOCK QUOTATIONS. (Furnished by Overbeck t Cooke com pany, rorlland-J Sales. High. Low Adams Exp Advance Hum Pierce Oil Pitts A W Vs. do pfd Pr Steel Car.. Pullmin ! Ray Con Heading ilsmington . Heplo Steel... Kp I & 8.... do pfd Rep Motors .. Ryl Dutch Oil Hy Steel gpg. Saxon Motors. rears Roebuck Shattuck Aria Shell T A T.. Sinclair Stand Oil Cal. Sloes 8bet . . . So Pac So Ry do pfd St L a 8 F... Strom Carb .. Studebakcr Swift & Co... Tenn C as C. . Texas Oil Texas 1'ao . . . Tex PC O., Tob Prod .... T Contl OH.. I'nlon Oil UeL Union Pac . . .. United Alloy.. United Drug.. Untd Fd Prod. Untied Fruit.. L'ntd R1a 1M J. do pfd 1,'td IUI Stores U S Ind Al U 8 Rubber... do 1st pfd.. U S Smelting. U S Steel do pfd Utah Cop .... Va Chem .... do pfd Van Steel .... V'fvandou .... Wabash do A pfd... do B pfd... Wells Fargo. .. West Pao do pfd West Union..., Westh K at M. West aid White Motors. Wlllys-Ovld .. do pfd Wilson Pack.. Wis Central... Woolworth ... Worth Pump.. W L ..... 100 ..a pld. do pfd Agr Chem ... AJax Rubber.. . Alaska. Gold.. . Alaska Juneau Allied Chum.. . Allls-Chal .... do pld Am Beet Sug. . Am liosch .... Am Can Co... do pfd Am Car & F. do pld Am Cot Oil... do pfd Am I'rug Syn. . Am Hide At L . do pld Am Ice Am lntl Corp. Am Unseed... do pld Am Loco .... do pld Am JaC Razor Am Ship At C. Am Smeller. do pld Am Snuff Am Stool Fdy Am biiKar ... do pld Am Sumatra. . Am T & T... Am Tob do U Am Wool .... do pfd Am W 1J Am Silnc Anaconda .... Assil Oil Atctilfnn .... do pfd Atl Cuust I.nie All G Ac W 1. luld Loco. . . . do pld Hallo & Ohio. do pfd Beth Steel B. ltoolh Fish... H H T Butte .C Sc y... Butte Sup. . Lurnes Bros, .. Caddo Oil .... Cal Pack Cal Pet do pfd Can Pac Cen Leather.. Cerro de P... Chand Motor. Chi & N W... Chi Gt West.. do pfd Chill Cop Chlno ' C M St P do pfd Coco Cola .... C & o Colo F I. . .. Colo- Southern. Colo Q & E... Col Graph . . .. Con Gas Con Cigars . .. do pfd ..... Contl Can .. .. Corn Prod ... do pfd Cosden OH ... C R I A P do A pld... do B pfd... Crucible do pfd Cuba Cane . . . do pfd Cub Am Pug.. Del at Hudson. Dome Mines.. D & R G do pfd End! Johnson. Erie do 1st pfd.. do- 2d pfd... Fam Players.. Fed M & Sm.. do pfd Fisk Tire Gaston Wms.. Gen Cigars.... Gen Klec .... Gen Motors .. Glen Alden . .. Gen Asphalt.. Goodrich ..... Goodyear .... Gran by Gt Nor Ore. . . do pfd ..... Greene Can .. Gulf 8 Steel.. Hask Barker.. Houston OH... Hup Motor ... Ill Cen . , Inspiration ... Int Agr Corp. do pfd ... . Interboro .... d opfd Iiilr Callahan. Int Harv .... Int Mer Mar.. do pfd ..... Int Nickel ... Int Paper .... do pfd Invin Oil Island Oil Jewel Tea . . .. K C Southern. do pfd Kelly-Spgfld .. Kennecott ... Keystone Tire. 40U Si 31 100 "" "" You 'hi" 'si" Voo k" "si" I0 27 K 2714 100 12814 128 Si 200 fil SI 2,VuO 33?,i "32 '"106 'ioii 'saii '"Voo "iii "4 SO( 3S 37 100 7iV 75", 1.800 4 IUI 3.3UII TOO 1.3011 IIOO 1.300 .VlO 100 Vol) ,3110 HIM) 1U0 ."00 2110 lo0 200 "00 1110 1,300 73 3714 1118 124 123 73 Vi 40 81 87 14 3K .12 3' 8", 4 83 '4 401, 53 74 33 ; Him 122 121 7414 4014 ' Kit1! 81 '-27i4 811 14 'as" S2 33 H 314 71. 414 12 63 14 30 200 113 14 11314 200 S.loo 200 1110 500 noo 18,000 800 3(1 i 40 14 11 23 25 4014 6114 4 00 4 30 31) 14 11 25 23 30 61 00 1,200 76 76 8,800 000 100 2S 8314 Vs 500 64 000 200 8O0 13 12is 28 S3 78 14 '83 "6 13 12 18 18 200 , B414 100 IS '4 soo la 14 64 18 18 8,100 60 67 11 11 300 1,400 123 10 124 8 600 84 S3 400 1,400 100 100 100 S.,600 27 74 22 38 S8 64 27 73 22 38 58 60 100 33 85 100 200 8,1100 200 800 800 300 77 '47 '48 '12' 8 41 21 10 ' 1 "4 7 '47 '48 'ii 2 41 21 10 Bid. 48 13 36 35 22 41 33 75 2 34 27 82 128 HO 10 42 4 10 50 67 33 22 4(1 80 105 4 6 38 73 108 24 56 7 3(1 107 123 122 " 73 110 2.1 40 83 86 81 84 27 87 II fl 38 61 35 8 8 . 104 12 5 41) 77 113 2)'. 2 40 61) 7 16 11 25 25 81) 84 53 24 87 61 8 00 24 64 43 76 106 28 33 79 87 63 83 6 13 11 102 18 iS 64 18 19 -13 61) 6 24 11 58 124 40 63 81 10 20 27 74 22 87 68 63 11 f5 85 0 87 1 6 4 78 10 47 14 48 do 12 8 10 23 50 4. t 21 10 Lack steel 41 2 Lee Tire 1,000 20 2!) viivt Lehigh Val ... 200 Lorlllard 100 Lowe Theators 600 Mex Pet 24,800 Miami Mid States ... Mldv stool ... Mont Power.. .Mont Ward... Mo Pac do pfd M St V a SSM. M & St 1. rioo 6,100 200 2. BOO 2"0 2,300 3614 144 13 03 22 13 1 20 44 5514 144 13 02 22 13 23 "is 20 43 56 144 13 94 22 13 24 62 111 20 43 67 40 Nat Load 73 Nev Cnn 100 11 11 M0 200 300 "8(I0 "s.VnO 200 New Haven.. or Am Nor & West. .. Nor Pac Nov Soo Stoel. N T Central. . Okla Prod ref. tint Silver ... Ont & West Otla Sieol Pac Iev Pac O ft B I'unta Allegro Pac Oil s.ono Pan Am Pet.. 7,100 do U 2,500 Penna 800 Peo Gas Pere Marq Phlla o Pure OH 1,500 IMero Arrow. 500 14 41 0)1 77 '74 2 14 40 96 76 -T3 2 38 44 40 36 38 42 30 36 2'.) 1 1 , .27 1014 14 30 1)6 71 23 74 2 4 20 0 11 56 27 38 44 4(1 80 19 it 2 27 10 ARK YOI LOOKINO FOR A DE I K.VDAItl.K PKODI'CE DKALEKT Veol Hotter Pork (liiyu Poultry V-nwn Honey Any Product Oet our prlcea m by ft co.. 160 Front 8t. Portlnnd. Or. Sixteen Tears" Reliability. 600 100 400 A00 900- 5,5O0 300 V(d 400 200 100 94 13 11 45 21 78 '79 20 46 23 94 18 71 8. 43 20 77 '7 20 46 28 3,900 72 71 7 26 76 56 94 13 71 a 22 61 .81 v 45 a4 2 6.8 68 31 21 78 30 79 20 46 23 20 72 1)3 7 86 24 23 62 19 121 26 67 12 -OS 8 10 60 45 48 80 33 70 110 62 20 74 31 22 13 51) 22 68 82 45 9 83 541 28 83 2 116 39 8 Liberty Bond Quotations. Liberty bond quotations furnished by Overbeck A Cooke company of Portland. Closing High. Low. 89.96 80.24 11.800 3.100 8.300 3,000 2.7O0 3,31)0 300 Voo 6(0 2(10 1O0 'sod 4DO 800 88 24 26 63 20 122 '58 12 108 8 '50 43 49 37 23 25 81 8 19 122 "68 12 -08 8 "48 45 40 2.900 loo 200 79 110 63 70 110 62 100 31 81 500 2.000 7 22 7 21 700 45 43 500 700 100 Voo 3.1 6 31 '39' S3 '33" "39 Liberty 8s . do 1st 4s ... do 2d 4s do 1st 4s . do 2d 4s .. do 3d . do 4th 4i Victory 4s . . do 3s .... 04.6O 03.10 05 36 0.1.30 99.42 92 00 02.60 93.12 02.08 99 86 Rid 80.80 83.50 02.80 04.10 92.08 1)3.20 03 20 00.40 09.40 Liberty Bond Earning Values. SAN FRANCISCO. Cal., Oct. 8. Earn ing valuea of liberty bonds, based on their market value at the close of business to day, are shown in the following weekly table Issued by the federal reserve bank: First 8s, market price 80.50, approxi mate yield 4 18 per cents first 4s, 1)3 UO, 4.40 per cent: first 4s, 94.00, 4 65 per cent: second 4a, 1)2.70, 4.54 per cent; sec ond 4s. 92.88, 4.78 per cent; third 4s. 03.12. 5.10 per cent; fourth 4s. 93.10, 4.83 per cent; Victory 4s, 99.30, S.20 per cent; Victory 8s, 09.30. 4.20 per cent. Hooton Mining Stocks. BOSTON, Oct. 8. Closing quotations: ' Allouex 20 INorth Butte. ...11 Arix Com 01d Dominion ... 24 Cal & Aria .... 51 Osceola 30 Cal & Hecla...284 IQuincy 39 Centennial . 8Superlor 2 Copper Range. 34iSup & Boston... 1 9Shsnnon 1 1-16 2iirtah Con 3 21 IWInona 55 2 Wolverine 11 Kast Butte. Frsnklln . . . Isle Royalle. Lake Copper Mohawk 3: Swift Co. Stocks. CloHing prices for Swift & Co. stocks at Chicago wore reported by the Overbeck & Cooke company at Portland aa follows: Swift A Co 95 I.lbliy, McNeil Y Llbby 7 National Leather 6 Swift International 23 Money, Silver, Etc. NEW YORK, Oct. 8. Foreign bar sli ver 71. Mexican dollars 55c. LONDON. Oct. 8. Bar silver 42d per ounce. Money 3 per cent, discount rates, short bills 4 par cent, three months' bills 4 per cent. New York Bonds. New York bond quotations furnished by . ikiioues inc.. ot rortiana. Am. Tel Tel. 6s, 1922 do. 1024 Am Tob. 7s. 1022 do, 1023 Anuconda 7s B, 1020 "' do 0s A. 1020 Armour cv. 7s. 1930 .......... do 4 Vis. lu:i8 Argentine Gl 5s. 1045... 19 Am. Ag. Chm. Beth Steel 7s, ao (S, 11)2 do Eq. 7s Belgium Ext. 7s, 1943 u . . Belgium 0s. 1025 do 8s, 1940 Bergen 8s, City of, 11145... Berne 8. City of, 1045 Brasll 8s. 1941 Canadian 5s. 1020 do 5s. 111:11 00 102 101 101 95 1)0 7 7s. 1842 ;.. 95 100 08 06 101 95 100 100 101 99 94 92 101 103 104 08 101 101 101 Brail! 8s, (New) 90 90 British 5. i:22 274 884 British 5. 1027 365 373 British 6s, 192U 303 873 British Tky 4s 280 290 Britth ref. 4s 270 200 Bordeaux 6s, 1034 84 64 Canadian 6s, 1926 - 94 94 Canadian 6s. 1029 03 94 Canadian 5s. 1931 90 00 Canadian 6s. 1021 09 100 Canadian 3s, 1027 8 88 Chilean 8s, 1941 98 88 Currency 8 10 Denmark 8s, 1945 103 103 Dan. Muni 8s 1943 102 102 French 4. lOiT 45 46 French 5s. 1031 53 M French 7s. 1941 09 H French 8s. 1943 99 99 Paris s loo loo German W. L. 6a 90 100 Berlin 4s 8 T Hamburg 4s 7 8 Hamburg 4s 7 8 Leipslg 4s 7 9 Lelpslg 6s 7 8 Munich 4s 8 0 Munich 6s 7 8 Frankfort 4s 8 10 Italian 3s. 1918 7 8 Jap 4s. 1031 ' 80 70 Jap 1st 4s, 1928 84 85 Jap 2d 4 4s, 1023 84 85 Norway 8s, 1840 106 HKi Russian 3s, 1021 14 16 Russian 8s. J026 Vi 4 Russian 6s, 1019 14 in Swiss 514s. 1029. ) 00 Swiss as. 1940 .. 107 107 U K 5Vrs, 1021 90 lOO U K 5s, 1022 98 08 U K ia, 1029 0 1 91 U K 5s. 1937 89 90 BONUS ARK BOUGHT BY TREASURY Investment Demand from General Public Also Increases. NEW YORK, Oct. 8. Indications of growing confidence la tho financial mar ket thus week were most definitely ex pressed In a substantial expansion of the inquiry for bigh grade securities and the further lowering 01 reuiscounts at re serve centers. Trading in stocks was secondary throughout to the activity displayed b the bond market. Liberty and victory Issues again held undisputed sway, the former leading at highest quotations of the year. Prevailing prices for these bonds show an enhancement of about tl.300.000,000 over the year's lowest levels. The major part of the accumulation was creuiteu to the treasury department, but there was little doubt that a considerable part ema nated from private sources. ' The strength of the Investment situa tion and Its international scope were re flected In the immediate absorption of the Rio de Janeiro 12,000,000 loan and an Australian offering, the first of its kind ever floated here for a like amount General business conditions also showed signs of Improvement, as evidenced by an enlargement of buying power over the corresponding period of last year. In sev eral of the leas essential lines of Industry, however, some retrogression from last month's forward movement waa noted. Almost every Important district "In the steel and iron trade reported a gradual Increase of operations over August pro duction. Confirmation of this Improve ment is exoected In the SeDte-mber ton nage statement of the United States Steel corporation to be Issued next Monaay. Foreign exchanges again were the most uncertain elements, although dealings were limited large v to British ana Frencn re mittances. Sterling was strong on steady buying, much of which was credited to Japanese account. The German rate made only feeble recovery from its lowest quo tation and Australian, Polish, Ciecho- Slovaklan and Greek bills continued 10 thrlnk as economic and other develop ments in central and eastern Europe as sumed graver aspects. J J raU 111 S HI !!."- rM " " a JuuiTi f ... - 11 than at any period since the reaction from September's advance. Interest focused in several of, the Industrial issues, notably those whose dividend and general finan cial prospects are more or loss uncertain. There was a good but only moderate inquiry for rails, especially Junior issues of the western and southern sections of the country. Prominent among these was New Orleans, Texas & Mexico, which rose almost ten points over last week's final price. Domestic oils as a group led the mar ket, their Irregular advances, mainly un der guidance of professional pools, being ascribed to an Increased demand for crude products, accompanied by an upward re vision of prices. The money market tended towards fur ther ease, but In part to an extension of lower discounts by federal reserve banks? Ina runninr Into ths coming year were made at slight concessions on high-class commercial paper but call money ranged from 4 to 6 per cent. Foreign Exchange. NEW YORK. Oct. 8. Foreign exchange irregular; Great Britain demand $3 80, cables- $3.80: France, demand 7.27, cables 7.28; Italy, demand 4.01, cables 4.01; Belgian, demand 7.14, cables 7.14; Germany, demand 81, cables 81; Holland, demand 32.32, cables 32.58; Norway, demand 12.04; Sweden, demand 22.95; Denmark, demand 18.60; Switzer land, demand 17.88; Spain, demand 13.18; Greece, demand 4.15; Argentina, demand . 82.87: Brazil, demand 13.25; . Montreal, 90 15-10. Excess Reserve Increased. j " NEW YORK. Oct. 8. The actual con dition of clearing house banks and trust companies for the week show that they hold $27,964,280 reserve In excess of legal requirements. This is an Increase ot $38, 862,610 from last week. lan. Nat. r,q. 7s. Chicago N-W 7s. 1:ui Can. Nor. 7s, 1040 cniie ss, i4i Christiana 8s. Citv of. 1045..." Copper Exp. 8s, 1022 do 8s. 11(23 do 8s, 1M24 do 8s. 1025 " Cuban Amer. Sugar Rs, 1931 Con. Gas cv 7s. 1925 Dla Match ts. 1033 Denmark 8s, 1045 Danish Mun. 8s. 1043 uupont (s, 1U31 iiu rrencn. ext. 8s. 1043 D0 07 H)2 103l 103 French 7s. 1041 Grand Trunk Ts. 1940 .... Goodyear 8s. 1041 Gulf Oil 7s. 1033 Great Northern 7 1936 .. Hershey 7s. 1930 Humble OH T, 1023 Int Rap Tr ref 5s. 1966 Int Mar CT lis, 1041 , Int Rap Tr 7s, 112t Kennecott 7s. 19:10 Llbby, McNeil AY Llhb Ts. It Mo-rls & Co 7s. 1030.... Mexican Pete 81. '.036 ..... NYC call 7s. 1930 Norway 8s, 1940 ..." Northwest Tel 7s. 1841 Ohio C G 7s, 1021 , Ohio Power 7s. 1931 Pan Ame 7s, 10.10 Penna 6s, 1036 . . t N P ft O N Jnt) 6s. 1036 N P s. 2047 , San Paulo 8s. 1030 Pouthwt Tel 7. 1925 , Swedish Govt fist 10.10 Standard Oil. N Y Ts. 1031 . Stand Oil of Cal Ts. 1931 .. Steel A Tube Ts. 1931 Swiss 8s, 1040 , Sears Roe 7s. 1021 , do 7s. 1922 , do 7s. 1923 , Solvay Ss. 102T , Swift ft Co 7. 1023...,..-.., I'n Tank 7s, 10:50 ...... II S Ruhher 7. 1030 Wilson 1st Bs. 1028 West Elec 7s. 1025 , Westlnghouse 7s. 10.11 Zurich 8sy 1043 , 0414 103 104 00 10.1 08 08 55 8.1 7S ?? 101 04 103 ior. 104 04 04 02 102 101 10.1 07 . 08 00 106 104 01 107 1O0 08 08 inn 100m 1 n.i 100 8.1 101 102 101 I Wheat The market was somewhat more settled today, due to b disposition on the part of shorts to even up contracts over the week end. Buying from this quarter took care ef renewed liquidation. Cash markets were without feature. The flour trade is mixed, the southwest reporting a fairly good business, presumably on ac count of having the advantage In price over the north west. The latter markets report the Inquiry rather poor. Some ex port business was done today, but the trade still Inclines to the belief It Is merely In the nature of short covering by certain export interests, and Will add to the distressed wheat already abroad and on passage. Wheat Is piling up at the gulf as well as southwestern marketa and indications point ts the diverting of wheat from the latter territory to Chicago. Should the government report show less than 200,000,000 bushels It will be construed aa bullish and may bring about a temporary rally Monday, but U will In no way alter the Immediate situation, which points to a further, decline. Corn All deliveries got into new low ground, accompanied by further liquidation of long contracts and selling In the form of hedges against cash grain. Potential buyers In the cash department were in different and spot value were lower with the futures. Two cars of new Illinois corn, the first of the season, arrived to day and graded No. 4 white. The belief is gelnlng ground that an early movement of new corn will be witnessed, which, to gether with the marketing of surplus old corn, will be more than the demand can take care of. Oats Active buying by leading shorts held prices only temporarily and the mar ket declined into new low. Receipts were only 80 cars, but the demand was limited and spot values were about half a cent lower The hedging sales placed in this market axe undoubtedly too heavy to per mit of an Important upturn until there is a radical Improvement in the demand for available supplies. Rye Buying by export Interests was the outstanding feature and served as a sus taining Influence in this market- Two cargoes of rye were confirmed as having been worked for export the past few days and additional business was believed to have been done today. Leading futures ranged as follows: WHEAT. Own. High. Low. Close. .$1.00 $1.10 1.07 11.09 . 1.13 1.14 1.12 1.18 - CORN. . .48 .48 . .64 .34 OAT3. Dei. .83 .33 .82 .33 May .. .37 .38 .37 .37 LATE RALLY IH WHEAT CHICAGO PRICES RECOVER FROM NEW IiOWS FOR SEASON. Foreign Bonds. Foreign bond quotations furnished by the Overbeck Cooke company of Portland: Bid. .V 101 Belgian rest. 5s. Belgian prem. 5s. Belgian 7s. 1045 Belgian 8s, 1041 Belgian . 1021 . .ino . .11M) . . 03 Ask. 68 101 11)1 100 05 PORT OF PORTLAND, OREGON 6s To Yield 5.65 VANCOUVER, WASH., GEN. 0BLG. DOCK 6s To Yield 5.857c to 6 LEWIST0WN, MONTANA, IMPROVEMENT 6s To Yield 8 WESTERN BOND & MORTGAGE CO. 80 Fourth Street, Ground Floor Board of Trade Bldg. Phone Main 113 Portland, Or. Rejwrted Sale of - Pacific Coast Grain to India Changes Market Sentiment. CHICAGO. Oct. 8. A late rally relieved an otherwise depressing short session ot the board of trade today, the change com ing after wheat, corn and oats htd all recorded new Iowa for the season. The close was unchanged to c lower for wheat, c to lc lower for corn and io lower for oats. Lard finished unchanged to 7o higher and ribs 2o lower to 5o higher. Wheat started weak and made Its low mark early. An- Initial rally was short lived and the market sagged steadily until December touched $1.07 and May $1.12. Sentiment waa mixed and the news generally bullish, export demand being reported slow and Canadian north west offerings liberal with big receipts in prospect at Winnipeg next week. To the usual week-end evening-up sales were added reports that India, ordinarily an exporting country, had bought two cargoes of Paciflo northwest wheat with further trade in sight. Corn and oats moved In parallel !ln?s under stop loss selling, ths fact that new N'o. 4 corn Is dellveranls under December contracts Increasing the pressure on that option. Evening-up transactions helped a recovery from the inside figures. Provisions were dull. Lard firmed no on the strength of the hog market and ribs were a bit lower. The Chicago grain letter, received yes terday by the Overbeck ft Cooke company of Portland, follows: EUROPEAN BONDS v We Offe WARSAW POLAND 5 Improvement Bonds PRINCIPAL AND INTEREST FAYABLK AT WARSAW AND NKW YORK CITY These bonds may be purchased In the following; denominations: 10,000-Mark Ilowd, price I Q QC American funds V I 0i03 S0,0OO-Marl& bond, priced QQ r)C American funds. 0 03iiJ lOO.OOO-Marlg bond, price I QQ Cfl Americas funds $IS0i3U With exchanKe at normal, a 00. 000-Mark bond would have a par value of $23,800. Descriptive Literature and For lea Bond List on Request. H.E.Wills Company Forelam Bonds, Sl V. S. Bank Bids;. Broadway 1011 Dee. May Dec. May .47 .52 .47 .63 Jan. MESS PORK. 15. 00 Jan. May 8.R7 9.27 T.BO 7.95 No. 2 4546e; 32c; No. 8 white, LARU, B.KH R.7 8.80 S. 22 0.27 0.22 SPARE RIB3. Jan. May Cash prices were aa follows Wheat No sales. Corn No. 2 mixed, yellow, 4r.e46c. Oats No. 2 white, 3031c. Kye No. 2, 84c. Harley A6fllc. Timothy seed t4.Sftgi4.73 Clover seed 11218. Pork Nominal. Lard JM.,15. Hibs $(1.7507.75. Minneapolis Grain Market. MINNEAPOLIS. Minn.. Oct. 8. Barley 10' 04. Flax No.l $1.88 M. 89. Wheat December. $1.10; May, $1.20. Winnipeg Grain Market. WINNIPEG. Oct. 8. Wheat October, $1.13; December, $1.11. (irain at San Francises. ' SAN FRANCISCO. Oct. 8. Grain wnoat, milling. $2(812.05: feed, $1.85 2.0; barley, feed. $1.201.35; shipping, $1.$01.40; oats, red feed, $1.451.50: corn, white Kgyptian. $l.ua1.75; red mllo, $l.ol 1.6.V Hay Wheat. No. 1, $1518; fair. $130 15; tame oats. $12jiI5; wild oat, $100 12; alfalfa. $12014; atock, $8010; straw nominal. - Seattle Grain Market. SEATTLE, Wash.. Oct. 8. Wheat Hard white, $1.05: soft white, white club, $1.04; hard red winter, $1.07; soft red winter, $1.03; northern spring, $1.06; eastern red Walla Walla. $1.02; Big Bend bluestem. $1.14. City delivery Corn, whole yellow, $37; cracked, 30; feed meal, $30. Barley, whole feed, $34; rolled, $3i; ground, $36; dipped, $41. Oat 9. whole feed, $3d; rolled, $38; ground, $38: sprouting, $41. Wheat, re cleaned feed. $13. All grain chop, $38; chick feed, $57; chick mash. $54; grow ing feed, $55; growing mash, $52; egg mash No. B. M.. $47; scratch feed, $40; wheat mixed feed, 23; cocanut meal, $27; linseed oil meal, $50; soy bean meal, $58. Hay Alfalfa No. 1, $20; mixed No. 1, $22; timothy No. 1, $27; straw. $18. Puluth Linseed Market. DULUTH, Oct. 8. Linseed On track and to arrive, $1.88. QUOTATION'S ON DAIRY PRODUCE Better Prices Ruling on Butter, Cheese and Kggs. SAN FRANCISCO. Oct. 8. Dairy prod uce exchange closed. NEW YORK. Oct. 8. Butter Barely steady; creamery higher than extras, 470 47c: creamery extras, 46c; firsts. 38fc45c. ilggs Firm: fresh gathered extra firsts. 49 to 02c; firsts, 42 Hi 47c Cheese Firmer; state whole milk flats, fresh specials, 2223c; state whole milk twins, specials, 2222c. CHTCMIO. Oet. 8- Butter Hllrher; 1 -f rr '0 TAX EXEMPT g21.000.00 CITY OF ASTORIA OREGOX 6 SPECIAL FL'XD WARRANTS Dated July, 1021 Ksdmatra Maturity, July, 1934. Denominations S5O0.0O Each. Price 89.85 and accrued interest, to yield 10 H. E. Wills Company 31" lT. S. BANK BLDG. PHONE BDWY. 1011. Our Partial Payment Method ts a unique way of purchasing Securities for Investment or Specu lation. It offers exceptional adrantases at this Mag of tho market. Our Hperlal .Booklet E-123. "The I'lirlirtl 1'uymrnt Vn" explains fully how your Losses Are Minimized Through Its Use. BECK & COMPANY STOCKd AND BONDS. One Wall St. New York Phone Rector 2S26. WANTED Reputa-ble young businew men who enjoy the confidence and goodwill of their community to represent in their territory, &. la rue, well-estab-li-thed financial Institution with of fices In New York and other prin cipal cities throughout the country. Occupation pleasant and dijjnified. Fart or full time. - Many of our ?enta are now earning between $:0lX and 1 10.000 annually sell Ins reiwibte dividend-paying; tock Ex change securities on the "Twenty payment Plan" to investors w"ho ap preciate the advantages of this method of Investing and or seek ing to create an income. Those de sirous of learning more about this unusual opportunity are requested to write to Box No. 8H7, City Hall Station, New York City, for full particulars. RAILROAD AND SAWMILL ' fellb,- I I Located on the fetsvt KffM ji' I OLYMPIC PENINSULA STATE OF WASHINGTON l I A.'tomr ij by the . V, (ll i Jm 0 ij United States Spruce Production Corporation I . iLT jj I f"A GeTernment Arenry Organized nnder Art ef Cen-"1 "nrd,' l w ' !l I I srresa. entitled "An Art making: appropriation tor the I VttVj V f , ' ! I support et the Army." etc. Approved July . lBla.J yj Wi ( M I I II . carfft frti mi mar corwLCTTO fj GBAttt PftQjfcTiD t tMcs The United States Spruce Production Corporation reserves the right to reject any and all bids. Subject to prior ale, sealed bids will be received at the office of the United States Spruce Production Corporation, Couch Building, Portland, Oregon, up to 12:00 noon, November 1, 1921; and then publicly opened, FOR PURCHASE OF SPRUCE PRODUCTION CORPORATION RAILROAD NO. 1, CLALLAM COUNTY, WASHINGTON, AND THE SPRUCE PRODUCTION MILL, PORT ANGELES, WASHINGTON, JOINTLY OR SEPARATELY. UNITED STATES SPRUCE PRODUCTION RAILROAD No. 1 Lor&tlnn Connects with the Milwaukee System at DIque. 17 miles west of Port Angeles. Wain line completed 86 miles to Lake Pleasant. Rewonrres Independent aonnectlon with Pucet Sound possible by con struction of & mllea from Olsque to Port Crescent. Spurs aggregating 70 miles graded for opening and developing of timber Immediately tributary, estimated, prior to the storm of last January, at 64 billion feet, consisting of 2.393.000.000 feet of Fir. 087,000,000 feet Spruce. M 3.000,000 feet Cedar, 2.K13.K,000 feet Hemlock. Timber through Which logging branch spurs are graded Is privately held without in cumbrance by large owners. Productive logging operations physically possible within t0 days for marketing logs to Port Angeles or other Puget Sound mills. Topography lends Itself to economical logging and is fully mapped. Main line may be extended 60 miles throTJfh virgin timber, also affected to some extent by storm of January last. Numerous water power sites adjacent for large pulp or milling devel opments. ( Cons tnirtlon Seasoned, substantial roadbed, ' standard gauge SO-lb. rail; gravel and rock ballast; wide clearances; K-50 structures; maxi mum 14 deg. curvature; gradients 1.25 ts. loads, 2 vs. empties; 1 summit. S.6 miles siding Installed; 8.6 miles additional sidings graded. Wain line construction involved 1,250.000 yds. grading, 600 lln. ft, tun nels, 80,000 lln. ft. piles, 600,000 F. B. .V. timber in place, 66.000 yds. ballast. , UNITED STATES SPRUCE PRODUCTION MILL PORT ANGELES, WASH. Phlpplng Facilities Alongside deep water Puget Round; Chicago, Mil waukee A St. Paul Transcontinental Hallway System, 1'aciflo coast terminal rates. Mill Building Heaviest timber construction, conforming to accepted commercial practice, 90 completed. Machinery Individual units electrically driven; one JO and one 11-foot band head saw; 60-Inch gang; 84-Inch resaws; cargo and rail overhead loading cranes; entire layout and individual mnrhlnes of accepted commercial type. All unused and tn storage at Vancouver, Wvh. Capacity 400,000 F. B. M. per 8-hour day. Power Plant Fireproof brick building on snlld concrete foundation; Custodln stack; refune burner; g4(0-H. P. water tube boilers; prenent pro virion for l.too K. W. turbo generator; piping and room provided for additional 2000 K. W. Atnpla Water Supply. Engineering Highest Quality skill and design in entire Installation by recognized experts ot wide technical and operating experience. Site Ample for all purposes. Log Pond-M5 million F. B. M. storage capacity. Mousing Karl lit lee Camp buildings, modern cottages and three-story 6 6-room brick hotel, completely furnished; alao considerable housing room in city. TFRMS .nf No bid for lee than $1,500,000 will be accepted for both properties; no bid for less than $1,000,000 will be accepted for ths a sUAviTiaj w railroad property; no bid for less than $300,000 will be accepted for ths mill. BIDDING As the above minimum amounts are considerably below the commercial and reproduction value of these properties, the Corpora i CAf C tlon reserves the right to accept any offer in excess of the above minimum amounts for either one or both of th?e properties, AZlu OJlE on or before October 17, 1021. In the event of such offer or offers being accepted notices will be promptly mailed to all those who have applied for further Information or submitted bids. Purchaser of Railroad must agree to operate same as common carrier. Deferred payments (at 2 interest) over period of 10 years will be allowed. All bids must be accompanied by certified check for $25,000, made, payable to the United States Spruce Production Corporation, same to be re tained a liquidated damages upon failure of bidder to complete purchase on award; but to be returned in event of rejection of bid. All bids must be made on forms and under conditions contained in ths prospectus which will bs supplied upon request by the United states Sprues Production Corporation. Titles to real property, timber, maps, layout plats of mill and master Index of machinery may bs examined at the offices of ths United States Spruce Production Corporation Couch Building: - - Portland, Oregon, U. S. A. , creamery extras. 45c: standards. 88tto; firsts, 84(9 44c; seconds. S0 632c. Kggs Unchanged. Receipts, 6609 cases. SBATTLB, Oct 8. Eggs White shells, 68c; mixed colors, 60c; pullets, 40942c Butter Creamery cubes, 4tfo; bricks or prints, 4Sc Ceffee Exchange Featureless. NEW YORK, Oct. 8. The market for coffee futures was very quiet this morning and correspondingly sensitive to small orders either way. After opening at a decline of 2 to 6 points under scattered liquidation, prices steadied up a point or two on covering, .but the market other wise was featureless with March ranging between 7-f2o and 7.84a. The close was 1 to 4 ooints net lower. Bales were estl nitil at about 4000 bags. October 7.75o, December 7HSc. January 7tle, March 7.04c, May 8.00c, July 8.03c, September 8.03c. Spot coffee quiet; Ttlo 7s 8e to 8c; Ssnlos 4. llUf to 12". Bond Bargains won 't last forever T0i3 have seen the inevitable return to cheap money. It is getting cheaper constantly. Only a few days ago was announced the reduction by the Philadelphia Federal Reserve Bank of its discount rate to 5. Commercial paper rate is 6 now, as compared with 8 a year ago. ' LIBERTY BONDS Low price in 1920 for the four active issues averaged 85.85 as com pared with 93.58 at present. ' Interest Rates Average rates for money for all purposes in New York reached. the high point of 8.347o- in August, 1920. This has shown a steady decline since (with a single exception of the month of January) to 5.48. Interest continues to decline despite the fact that interest usually at this season of the year rises sharply by reason of the normally greater fall money demand. Call or write and ask for our current list of bonds. Now is the time to. buy. GROUND FLOOR LUMBERMEN'S BLDG., JTFTH AND STARK BDWT, 6740 Freeman, SiMITH & Camp Co. ARE YOU WATCHING jJ) GERMAN I EXCHANGE o The recent low level reached by the German Mark is again attract ing; foreign exchange speculators. Quite a number who hold Marks for which they paid Jc or better, are now averaging tip by doubling their holdings at prices under lc. This' may be a good suggestion for you. Foreign exchange quotations received daily by wire. Let Us Quote You on Either Bonds or Exchange H.E.WiBs Company Specialists in Foreign Securities. 316 U. S. Bank Bldg. Portland, Or. Broadway 1011 MONTHS JpPaiT bm may fl-. THE LIBERTY PLAN oe rAxnAk asnoDro k Wssna uaerakanph. Wria. isr books V( 84 2 5 Broadway Now Yor k City- TI1R O'LY WAY TO TRADE SAFELY IV THR BTOCK MARKET 10 sharks $r Unlimited 7-DAY OP. ri t TIONFOR " Profits Any Stock Exchange Issue PUTS&$0 CALLS U Writs for Booklet R4 Free C. Goldhurst & Company Service Reliability 50 Ilroad Street, New York. 10 HERRIN & RHODES, Inc. Established 1198. BROKERS New York Htocks, Hands, Grain, Cotfa Trivate Wlree. islrmlxTs Chleago Beard a Trade. 201-8 Railway Eschsrrs nidi. Telephone Mala 23-28. OVERBECK & COOKE CO. Broken, fitopks. Bonds, Cotton. Orala, .to. 16-117 BOARD OF TRADR BLDCL Walla Walla, Wash. 1'ortlaad, Or. l'endletoJs. Or. MEMBERS rmCAOO BOARD Of 1 KAUE, Carreaponrirnts of I-omn M Bryaa, Ctiii-aco and er York. MFMBKRS New York Meek Kxrhanre. C hlraffo Htwrk Kirhansa, Boston Stock Kxrliantte. t liUaxo Uonrd of 'Irnde. tiew lork Cotton Exchange. rw Orleans Cotton KsrliMnfe. riew lork frounce Kscliauaa, Innfpea Crala ttschansre. Liveroooi Cottoa AssociaUoa. How to Figure Margin Fully explains marginal trading, equities, thort sales, odd lots, etc WrU Jor .B-l.. Edwin E. Kohn & Co. Members Coosotl detail Bteck n ef Mew Ton 55 Broadway, N. Y. Buy Safe Bonds 1f MONTHS 1U TO PAY Send for Partial Payment Booklet. Semi -Monthly Investment Letter and List of 40 Standard $100, $500 and $1000 Bonds netting 6 to 9 L. A. HUGHES & CO. 1 00 Broadway, New York ORGANIZING A COMPANY? Save the usual Incorporating ex penses, avoid personal liability and excem profits taxes. Organize on, the common law plan under a DECLARATION' OP TRUST Hemaree Stnmlard Forma (ap proved by attorneys) furnish com plete equipment with which any one In any state can organize a company, lisua shares and befrtnj doinir buslneas tha eame day. Aslt for circular containing XuU descriptions. C. S. Drnirrs, I. rani Blnnk Printer IS Walnut, hanaaa City, Bio.