THE STJXDAT OREGONIATT, PORTLAND. DECEMBER 11. 1021
STOCK LIST IS STRONGER
IiEADINC; 8HARE8 fJAIX OXE TO
TICllKK POINTS.
Buoyunt Tone of Foreign Ex
change Bonds Irregular.
KEW TORK, Doc. 10. Opinion In trad
ing circles w.. rather mixed at the open
ing "f today's brief session, but the mar
ket noon lurm .l strong to the discomfiture United Alloy .
Roy Dutch Oil 0.700 50 49
Ry Steel Spst
Stand Oil N J. 400 11)6 186
Scare Roebuck 3.100 57 50V4
Shattuck .rlz 800 8 T
Shell TAT.. 400 38 38
Sinclair .f.... 5.000 22 21
Stand Oil Cal. 60O !)0 00
Stand Oil Ind. : 8K 87
Sloes Shef ... 200 SS 38
Sou Pacific .. 400 7UTs 7i)
Sou Ry 500 10 18
do pfd 100 45 45
St I. A a r -.
Stromberr Car 100 32 32
Studebaker ... 8.000 80 T0
Swift A Co 98 97
Tenn Cop A C 1.600 10 10
Texas Oil 27.500 4 7 46
Texas Pac ... 2O0 23 23
T Pac C A O. 'I.'JOO Ji 28
Tnb Products . 400 r,g 59
Tran Contl Oil 1,100 10 10
Union Oil Del. 1,700 20 19
Union Pac ... 500 127 127
I
United F Trod
United Fruit .
Un Rds of N J
Union BAP..
speculative variety followed leaders at less ( s Ind Alco'h
U S Rub
do 1st pfd . .
U S Smelting.
U S Steel
the active close. Coppers, equipments and
oils were features at gains of one to three
points. Motors, shippings, rubbers, tobac
cos and miscellaneous stocks of the more
substantial gains
Rails alone were sluggish, many repre
sentative issues remaining unquoted. Their
backwardness was attributed to official
reports disclosing an increase of idle
freight cars. Sales were 450,000 shares.
Sentimental factors In the day's move
ment included the .strength of foreign ex
changee. Some of which were at maximum
quotations since the signing of the armis
tice and announcement of the terms of
the "four powers" treaty.
The November tonnage report of the
United States Steel corporation, showing
a small decrease In bookings compared
with the previous month and weekly re
views of trade conditions by the mercan
tile agencies comprised the other develop
ments. Trading in bonds was broad, but changes
were Irregular. Liberty Issues again de
noted realizing for profits, while trans
portation reflected pressure In the share
list. Total sales, par value. $10,875,000.
An actual decrease of $38,600,000 In
Clearing-house loans and discounts was
something of a surprise. In view of the
supposed drain on local resources during
the week. A cash loss or $7,700,ooo re
duced excess reserves to slightly less than
110,300.000.
CLOSING STOCK QUOTATIONS.
(Furnished by Overbeck ACooke com
pany or I'ortlann.i
Stock Sales.
Adams Kxprss 100
Advance Rum. 50O
Agr Chem 300
do pfd ......
AJax Rubber. . f00
Alaska. Gold. . 200 '
AlMka. Juneau
100
200
1.500
"ioo
2.7O0
000
1,200
10
126
53
38
54
60
10
123
"72 "
32
37
33
50
H1
ISC,
56
7
38
21
90
88
38
79
18
43
21
32
79-,
97
10
47
23
28
59
10
19
127
25
6!)
10
125 "t
7
70
San Paulo 8a 1936 102
Swedish Govt 6s 1989 95
Standard OH, N Y 7s 1931 108
do Cal 7s 1031 106
Steel A Tube 7s 1031 98
Swiss 8s 1940 113
Sears Roe 7a 1922 99
do 1023 tn(
Swift A Co 7s 1025 100
Un Tank 7s 1930 104
U 8 Rubber 7s 1030 104
Wilson 1st 6a 1928 88
West Elec 7s 1025 105
Westlnghouse 7s 1931 105
Zurich 8s 1945 108
8L
Foreign Bonds.
Foreign bond quotations furnished by the
Crrerbeck A Cooke company of Portland:
ISia. Asaea.
Belgian rest 3s 02
Belgian prem 5s 67
Belgian 7s , ll4i
800
4.000
100
8.1100
do Df d
Utah Copper
va ' :. em
Vanadium St. 600
Vlvandou .... 2.200
Wabash 1,700
do A pfd . . ,
an a pia...
Wells Fargo ..
Western Pac .
do pfd
Western Union
Westing A B.
West B & 51 . .
West Md
White Motors.
Willys-Over ..
do pfd
Wilson Pack .
Woolworth ...
Worthing Pu. .
W A L E
White Oil ...
300
200
'206
100
900
'460
7IIO
100
600
500
300
36
83
113
65
'32
7
6
20
13
'ii
55
92
48
8
30
5
29
29
33
83
113
63
'32
7
20' 1
13
'l7
55
91
'49
8
39
5
28
29
IOO
100
300
43
7
12
43
7
11
High.
40
11
30
'30
Low.
49
11
30
'io
Allied Chem.
AXIS Chalm . .
do pfd
Am Beet Sug
Am Bosch ....
Am Can Co. ..
do Did .
1,400
400
IOO
300
400
500
56
38
88
28
331,
32
147
46
37
88
28
32
32
146
Bid.
49
11
30
68
20
56
37
88
28
33
32
94
147
Am Cr & Fdy 600
do pfd 114
Am Cot Oil. , 600 21 20 20
do pfd 45
Am Drug Synd
Am Hd A Lth 00 13 13
do pfd 300 57 67
Am Ics
Am Intl Corp. 2.300 41 40
Am Linseed.. 20O 31 31
do pfd 100
Am Loco 2.500 100 9D
do pfd 112
Am Saf Rax.. 400 4 4 4
1 Am Khp A Cm 6
Am Smelter.. . 6,000 46 45 46
do prd 100 88 88 88
Am Snuff 112
Am Steel Fdy SOO 34 34 34
Am sugar.... 1.500
do pfd.
Am Sumatra. . 900
Am Tel A Tel 600
Am Tobacco. . 800
do "B" 100
Am Wool 2.000
do pfd 103
Am W P pfd 25
Am Zinc ion
Anaconda. .... 6,900
Assd Oil
Atchison R00
do pfd 200
Atl Glf A VT I 700
Baldwin Loco. 11,600
64
'31
110
134
130
82
13
48
64
30
115
134
130
81
13
48
8
12
r,7
73
41
30
65
09
64
84
31
110
134
129
M
100
300
'4,466
2,000
100
500
500
600
600
500
2,000
"566
700
1.0OO
2,000
1,700
300
100
17.990
3.100
3.100
2.400
8.RO0
300
500
2.500
4.600
100
100
1,500
1.900
100
100
3,1000
1.100
2,500
50O
466
IOO
800
1,200
700
4.300
500
rlr 11M
Balto A Ohio.
do pfd
Beth Steel 'B'
Booth Fish...
BUT
Butte OA Z..
Butte A Sup. .
Burns Bros...
Caddo Oil
Calif Packing.
Oallf Pet
do pfd
Canadian Pao
Oen Leather. .
Cerro ds Pasco
Chandler Mot.
Chgo N W. . .
Chi at w
do pfd
Chill Cop .
Chlno
C, M St P
do pfd
Coca Cola. . . .
C A O
Colo F A I. . .
Colo Southern
Col Gas A El.
Col Graph....
Con Gas
Cons Cigars . ,
do pfd
Contl Can....
Clt Ser Bkrs.
Corn Prod . . .
do pfd
Cosden Oil . .
C R I A P. . .
do "A' pfd.
do "B" nfil .
Crucible
do pfd
Cuba Cane...
do pfd
Cub Am Sug.
Del A Hudmn
Dome Mines. .
Del A .Lack . .
Davison Chem
Endi Johnson
Erie
do 1st pfd . .
do 2d Dfd..
Fain Plav ....
)Fo'i Mln A Smt
do pfd
iFlsk Tire
Gaston Wma. . 100
Oen Cigars... loo
Gen Elec 300
Oen Motor... 3.500
Glen Aiden
Gen Asphalt.. 11.400
Goodrich .... 500
Ooodvear
Oranby
Ot Nor Ore..
do pfd ....
Greene Cans.
S Stl
t Barker.
Hon Oil.,
p Motor..
Cent
Inspiration . .
lot Agr Cr cm
do pfd
Interboro ....
do pfd
Interst Calls
lnt llurr
do pfd
Int Mere Mar
do pfd
Int Nickel . . .
In Paper ....
Invlnc Oil...
Insland OH..
Jewel Tea . . .
K C Southern
pfd ....
-Si.gf.d
Kennecott
Keystone Tire
Leek Steel . . .
Lee Tire
IjShlah Valley
Lorll'ard
Lowo Theaers
Ii A X -
Marland Oil .
May Dept Slo
Mex I'et
Mid States OH
.'Ovale stoe1.
m "wide-
pfd ....
Mont Power .
Mont Ward ..
Mo Pac
do pfd ....
M St A 8 S M..
No Am ....
Nat Biscuit ..
Nat Enam . . .
Nat I.ea.l
Nevada ('on . .
New Haven . .
Norf A W ...
No Pac
Nova Pe Steel
N V Air Br. .
N Y Cent
Okla Prod ref
Ont Silver ...
Ont A W
Otis steel . . .
00
86
31
96
102
86
2
5
1"c
11.-.',
11
89
44
120
30
33
48
68
7
17
13
28
20
33
41
56
R9
86
31
94
102
36
'57
6
7
5
18
115
11
68
4i
126
30
ga
67
7
17
12
27
20
32
40
65
3
42
64
3
18
37
3.000 94
20O 111
34
32
84
71
06
it
93
in
34
31
88
71
64
7
15
13
'in"
111
52
78
11
75
'33
13
13
51
77
11
68
138
11
48
67
33
68
137
10
43
1;.; . ,
33
Ills
Ke
do
30O
200
1.500
500
"266
1.700
500
SOO
1.500
ioi
400
MS
1,500
200
400 1
700
2.300
3. 4 0O
300
4.400
3.400
"ioo
" 2.900
4, B00
3.000 .
2,200
mm
400 V
1.IHIO
13
48
99
89
83
31
95
102
36
63
58
7
7
5
IT'i
115
11
60
43
83
120
30
35
47
67
17
13
28
20
33
41
56
24
41
65
3
93
18
67
gg
93
110
34
31
84
Tl
64
88
7
15
13
IOO
1R
111
31
7S'
11
1' .
74S.
33
10
68
187
10
43
:.';
35
11
29'-,
BONDS.
U S 2s. reg..101
do coupon . ."101
do 4s, reg. . .104
do cv 4s. cp 104
Panama 3s, reg7
do 3s. cp. . . . 79
NYC deb 6s. . 88tJ
N P 4s , 84-.
do 3s 60
Pac T A T 5s. .92
Penn con 4Ks.n:i
iSou Pac cv 5s.. snttt
A T A T cv 6sM07'Sou Railway 5s 88
Aicnen gen, 4s. .i;union fac
D A R con 4a.. 72U S Steel 5s.. 99
Belgian 8s 1941
Belgian 6s IMS
Brazil 8s 1841
British 5s 1922
British 5s 1927
British 5s 1920
British vky 4s
British ref 4s
t 1 a. 1Q11
n- , J I .Ml v.. ' .1 V ........
'Canadian 5s 1937
t anauian .is i
Canadian 5s 1929
Canadian 5s ...1931
Canadian r.'-s 1927
Chilean 8s 1941
Denmark 8s 1945
Dan. Muni. Ss 1945
F.elich 4a 1917
French 5s 1920
French 5s 1931
French 7s 1941
French 8s 1945
German W L, 5s
Berlin 4s
Hamburg 4s
Hamburg 4s
i.eipslg 4s
Leipslg 5s
Munich 4s
Munich 5s
Frankfort 4s
Italian 5s 1918
Jap 4a 1881
Jap 1st 4s 1925
Jap 2d 4s 1925
Norway 8s 1940
Russian 5a 1921
Russian 5s 1926
Russian 6s 1919
Swiss 5s 1929
Swiss 8s 1940
United Kingdom 3s...l921
United Kingdom 5s...l922
United Kingdom 5s... 19211
United Kingdom 5s...1937
88i
36
83
113
64
29
32
7
6
20
18
67
17
65
92
93 54
49
8
39
5
28
29
124
4:1
7
11
Bid.
Liberty Bond . Quotations,
Liberty bond quotations furnished by the
Overbeck A Cooke company of Portland:
Closing
open.
Liberty 3s 95.66
do 1st 4s
do 2d 4a 96.80
do 1st 4s
do 2d 4s 97.00
do Sd 4s. A . .97.5S
do 4th . 97.30
Victory 4s 00.118 100.02
do l-is . 100.00
104
104
95
104
417
407
408
328
296
86
93
96
97
94
91
102!4
107
107
47
66
67
93
100
4
4
4
4
4
6
4
6
33
86
109
13
14
93
112
'69
97
94
66
70
104
105
95
104
427
427
416
338
306
86
5
9
97
95
93
102
108
108
49
67
58
l'5
100
5
5
l
6 I
6 !
9
7
34
71
87
86
109
16
8
17
96
113
i
98
95
MAIN rtflfll
MARS. 2. !.-
We Offer
A Well - Protected
Security Upon a
Local Industry
Giving Investors for a
GOOD TERM OF YEARS
An annual income of
8
and, at retirement, an added
profit of 10 per cent is paid.
Dividends free from normal in
come tax under present
federal laws.
Full Information on Request
FREELAND FURNITURE
- COMPANY
Mil It era of Fine rubles
97(1 Muradam Street
PORTLAND, OREGON
High. Low.
95.66 95.16
96.80 96.78
97.00
97.62
97.30
96.82
97.50
97.11
Bid
95.02
97.06
'.MS. so
97.16
.68
97. CO
18
99.9S 100.00
9996 100.00
.Mining Stocks at Boston.
BOSTON. Dec. 10. Closing quotations:
Allouez 22N"orth Butte... 12
Ariz Com 07!Old Dominion .. 24
Cal A Arls 67 I Osceola 33
Cal A HecJa ...260 IQunlcy . . .- 46
Centennial .... 9t Superior 2
Cap Hf Con Co 39JSup A Bos Mn.. 1
E Butte Cp Mn loy;;shanno 1
Franklin lIUtah Consolld.. 1
I Boy (copper) 23 Winona 40
Lake Copper .. 2 Wolverine 11
Mohawk . . 67 1
Swift Co. Stocks.
Closing prices for Swift A Co. stocks at
Chleago were reported by the Overbeck A
Cooke company of Portland as follows:
Swift A Co 97
Llbby. McNeil A Llbby 8
National Leather 24
Swift International 21
Money, Silver, Etc.
NEW TORK, Dec. 10. Foreign bar sil
ver, 03 c.
Mexican dollars, 50c.
LONDON, Dec. 10. Bar silver, 33d
per ounce.
Money, 2 per cent,
Discount rates Short bills. IH ner cant:
(thr.- months' bills. 8 9-1G per cent.
Excess Reserve Decreased.
NEW YORK, Dec. 10. Ths actual con
dition of clearing house banks and trust
companies for the week shows thst they
hold 310,283,010 reserve In excess of legal
requirements. This la a decrease of 37,704,
790 from last week.
New York Bonds.
New York bond quotations fnrnl.heri hv
Herrln k Rhodes, Inc., of Portland:
Am Tel A Tel 6a ....1928 100
do 1824 99
Am Tob 7s 100
Anaconda 7s B 1929 102
do 6a A 1929 97
Armour cv 7s 193o 1024
do 4s .1989 86
Argentine ui lis ;1845 76
Am Ag Chem 7s 1941 101
Beth Steel 7s 1922 109
do 1823 100
do En 7s 1935 100
Belgium Ext 7s 1845 1U4
do 6s 11126 95
do Us 1040 104
Bergen 8s, City of 1945 104
Berne 8s. City of 1943 108
Brazil 8a J 1941 104
Can.idlan 5s 1926 96
do 1981 95
Can Nat Eq 7s 1985 197
do (guar) 6s 1946 107
Chicago N W 7s 1930 105
(. II & St P zn&rf 4Un A 501 a MI
Can Nor 7s 7.... 1040 109
fhile 8s 1941 102
Chrlstlanla 8s, City of 1945 107k
Copper Exp 8s 1922 102
do 1923, 102'
do 1824 ' 103
do 1825 104
Cuban Amer Sugar 8s 1931 102
Con (las cr 7s 1925 104
Denmark 8s 1945 108
Danish Mun 8s 1945 197
Dupont 7s 1931 103
Kr.mch ext 8s 1945 99
do 7s .'1941 94
(Iranil Trunk 7s 1940 108
Ooodyear 8s 1941 110
(iulf Oil 7s 1083 102
Oreat Northern 7s 1836 108
Humble Oil 7s 1823 100
Int Hap Tr ref 1968 53
lnt Mar I'T 68 1941 90
Int Rap Tr 7s 1921 73
Kennecott Ts 1930 101
Llbby, .McNeil A Llbby 7s 193J 99
Mexican Pete Ms 19311 1 00
NYC call 7s 1030 105
Norway Ms 1940 109 .
Northwest Tel 7s 1941 107
Pan Amer 7s 1880 95
Pen na 0s 1936 104
x r , i; s (,int 6'...k i:i:iij nmij 1
Foreign, Exchange.
Foreign exchange rates at the close of
business yesterday, furnished by North
western National bank of Portland. The
amount quoted Is the equivalent of tne
foreign unit In
Austria, kronen
Belgium, francs
Bulgaria, leva
Czecho-Slovakiu
United States funds
f .0008
.- 0765
0080
kronen 0120
Denmark, kroner 18t-
England, pound sterling
Finland, flnmara
France, francs
Germany, marks ..
Greece, drachmas .
Holland, guilders ..
Hungary, kronen . .
Italy, lire
4.1UO0
.0300
.0790
.0064
.0422
.3620
.0018
.04
Jugo-SIavla, kronen 0046
Norway, kroner 1475
Portugul, eacudos 0905
Roumanla, lei uOH2
Seroia, dinars ?Jm
Spain, pesetas u...,. ,145o
Sweden, kroner 2430
Swltierland, francs 1950
China-Hongkong, local currency.;.. .5400
Shanghai, taels 7900
Japan, yen - 48oU
NEW YORK, Dec. 10.
strong; Great Britain
4.14
7.82
4.44;
7.50
54 ;
36.01;
Foreign exchange
demand, 4-14 ;
France, demirnd, i.82.
Italy, demand, 4.43;
Belgium, demand. 7.50:
Germany, demand, .54;
Holland. demand, 35.95;
Norway, oemanu, 14. ou
Text Book
of WALL STREET
-1922 EDITION-
Contmntt
History of New York Stock
Exchange
History of the Consolidated
Stock Exchange of New York
History of the New York Curb
How to Open an Account and
Methods of Trading
The Art of Speculating for
Profits
Augmenting One's Income
How to Secure Loans on Stocks
Dictionary of Wall Street
Terms and Values of Foreign
Exchanges
Copy from upon request
McCall, Riley & Co.
liembrra ConoliJaatd
Stock ' ; of Ntm York
20 Broad St..
New York
cables,
cables.
cables,
cables,
cables,
Sweden, demand, 24.20; Denmark, de
mand, 18.93: Switzerland, demand, 19.38;
Spain, demand, 14.38; Greece, demand,
4 17; Argentina, demand, 33.00; Brazil,
demand, 12.87; Montreal, 91 1-16.
Coffee Futures Higher.
NEW YORK. Dec. 10. The market fof
coffe futures showed further advances
today with December selling at the 9-cent
level or 5 points net higher. There was
a further broadening of commission house
demand, promoted by talk of higher, cost
and freight offers and the market held
most of its gains, closing net unchanged
to 9 points higher. Sales were estimated
at about 41,000 bags. December, 8.95c;
January. 8.83c; March, 8.89c; May, 8.87c;
July, 8.70c: September. 8.73c.
Spot coffee firm; Rio 7s. 99c; San
tos 4s, 12 & 18c.
Cotton Market.
NEW YORK, Dec. 10. Cotton Spot,
quiet; middling. 19.30c. '
OVERBECK &
COOKE CO.
Broker. Stock. Hondn. Cotton,
(.ruin. Etc.
ilS-217 BOARD OF TRADE BLDG.
Walla Wulla. Wash.
I'ortland, Or.
IVndlrton, Or.
Members hh (.o board of
TRADE.
Correspond en 1h of lxjnr,n A Bryan,
Chicago and Mew York,
MEMBERS
New York Stock Exchange.
Chicago Stock Exchange.
Boston Stock Exchange.
Chicago Board of Trade.
New lork Cotton Exchange
New Orleann Cotton Exchange.
New York Produce Exrhnnge.
Winnipeg (iruin Exchange.
Liverpool Cotton i.tiion.
23 H
ORGANIZING
A COMPANY?
Save the usual Incorporating ex
penses, avoid personal liability and
excess profits taxes. Organize on
the common law plan under a
Declaration of TrtiKt
Demurce Standard forms (ap
proveif"by attorneys) furnish com
plete equipment with which any
one In any State can organize a
company, issue shares and begin
doing business the same day. Ask
for circular A-42 containing full
descriptions.
('. s. DKMAfUBK,
Legal Blank 1'rlntrr.
BIS Walnut, Kansas City, Mo.
FOREIGN EXCHANGE
Lonrst Rntes. Wntch
Our Window.
Direct Wire Service from New York.
TRASS-ATL I II --.STATUS
A CIIHDIT CO.
102 Second St., Kear Stark.
Mnrahall 20.-..
hat Stocks
To Buy for Profit
THE trader to make real
profit must buy stocks
when prices are low and
sell when high, but a large
percentage always buy at
top pricesand sell at the low.
A number- of issues are
now in a position to go
much higher while others
should be sold and your
profit taken. Keep posted.
Our market letter cives you
special, valuable inforssstion
affecting future movements of
many active securities.
iskforrc-l I Copy free upon request.
COOGAN EL CO.
Investment Securities
32 BROADWAY
New York
HERRIN & RHODES. Inc.
Established 1898.
BROKERS
Wo Will lluv si mid Portland Ry. & I.t.
B . t.old Notes at III.
201-8 Railway Excnanse Bids
Teleobon M.ir. ?R3-284
-ui;
!!',
1:1
isvi
Psvc O ft Elec.
Punta Allexre
Pae Oil
Pan Am Pet. .
do "B"
Pennn
Peo Gas
Fsre- Marq . . .
Pure oil
Phillip Pete.
Pierce Arrow.
Pierre Oil ...
Pitts Cosl . . .
Pitts & W Va.
Press St Car. .
Pullrmin
Tiny Cona . . .
Heading;
Remington . ..
Reploitls Rt . .
Rep I A S. ...
do pfd ....
Rep Motors ..
1 ,::!
"ioo 'iiii
ion '42
ion a,-. 1,
2no
no liv
,".M1 117 K
1.400 SOU
l..'.iio
2.700
700
non
000
r.00
n.snn
4.70t
nno
.'. -J...1
:ion
IM
1,400
400
400
10.2OO
2.000
200
.TOO
000
1.M10
1.7O0
J.soO
21 K
700
211 m
Mfi
.121,
47f4
88 II
.an
22'.
::s
32
14H
!:l
as s
20
06
100
u
71
2S H
20
21
s
20
4.1 '4
M
1 47
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We offer subject to prior sale and change in prices:
Goodyear Tire & Rubber Co.
10-Year B KinklnK I mid ;ld Debenture Bonds.
Dated Mn.r I, 1921. Doe May t, 1031.
Redeemable nfter 1022 nt 1 10 nnd intereat on 30 days' notice.
The.xc bonds are the direct obligation of the company, nnd
constitute ltM only funded debt, apnrt from at elosed Flrat
Mortarauaa of .io.ooo.mmi. ahse May, 1041.
For the seven months ending; September 30, 1021, Xet Snlea
v.-r,- SMI2.42I.I7II, it nil Hi.AtK WAII.IBl.i: FOR IX.
TKHF.ST WAS 8K!X.4XI!. MAXIMl.1l IXTKHKST RK
M IRF.MF.XT ON TMKSK IIOMIS AMI THF. FIRST
llllini.AI.K HON 1K AIIOI NT TO iM.Oimi.iuhi.
PRICE 992 AND INTEREST
TO YIELD 8.05
Ytritr- or Phone Broadway 3171 for Complete DescrlptlTe
Circular.
Bond 8? Goodwin Tucker
an rn.AHCitco
t art O N POH A Til
UNITED STATE 5 NATIONAL BANK BUILDINC
PORTLAND -
LP ANGEL E
iEATTLt
Liberty Bonds
H O LD YOURS
Do not part with them
unless compelled to do so.
BUY MORE
At present attractive prices,
thus reducing cost.
Booklet No 294 gives interesting
snd profttstic information.
WWie TODAY for your fret cosj
ROSE & COMPANY
Liberty Bond Specialists
50 Broad Street, New York City
HOW TO BUY
SAFE BONDS
The following boG.aeta may be obtained
gratis by writing on your busineu or
personal stat toner y.
"10-Year Price Range of All
Listed Bonds"
together with 1021 Sales snd Prices
"Buying Safe Bonds on
Partial Payment Plan"
Also
Semi-Monthly Investment
j Circular
L. A. HUGHES & CO.
INVESTMENTS
1 10 Broadway New Vork
Manufacturing Investors, Attention
I am authorized by owner of high-class manufacturing
business located in Portland (last year's sales $150,000)
to sell same at reasonable figure. Owner retiring from
active business life. Business is free from debt. Deals
in staple articles. Sales can be increased up to about
$500,000 annually without exhausting possibility of sales
territory. Principals only. Apply for full detailsHo box
N 997, Oregonian.
TRADE SAFELY
IN THE STOCK 1I1RKET
I0SHARBS astf 'aliaa-
7 -LAV 4sT Gsl lied
i.iTTIDX FPU pt Jp Profits
Any Stoek Kti rji n n fie Issue
$10 CALLS $20
Positively No Marttlna Calls.
W rite for Booklet . M I rtr
C. Goldhurst & Company
Bus last Hellalillltj
M llrund Street, New York.
20
MONTHS
to pay for any stock or bond.
Purchaser rscrives dividends.
Writ for booklet FREE.
RODNEY &. CO.
MwtiriM. teci Ex. f IS. Y.
55 Broadway, New York
NEW ISSUE
WE OWN AND OFFER
$1,950,000
Washington Water Power Company
Two -Year 6x2 Secured Gold Notes
Dated February 2, 1922
Due February 2, 1924
Semi-annual interest coupons payable February 2 and August 2.
- Principal and interest payable at the Spokane & Eastern Trust Co.
CENTRAL UNION TRUST COMPANY OF NEW YORK CITY, TRUSTEE
Denominations $100, $500 and $1000
SECURITY
These notes are a direct debt and obligation of the Washington Water Power Company and are
secured in addition by a pledge of the company's first and refunding mortgage 5 per cent
bonds, due July, 1939, on a basis of $1200 par value bonds for each $1000 of notes outstanding.
The market position of these bonds is very high. They are given an "AA" rating by the highest
statistical authorities and have sold as high as 104.
PROPERTY AND HISTORY
The Washington Water Power Company needs no introduction to the investing public of the
Northwest. From small beginnings it has built up its properties into one of the greatest light
and power companies in America. The property of the company consists of hydro-electric and
power plants, distributing system in Eastern Washington and Northern Idaho, a street rail
way in Spokane and a suburban railway between Spokane and Medical Lake. The company
owns and develops approximately 140,000 horse power at four different plants, and is develop
ing a large additional plant in the heart of the City of Spokane, and starting preliminary work
toward the development of a great power plant at Kettle Falls. The company has a most
favorable contract under which it supplies power for the electric operations of the Chicago,
Milwaukee & St. Paul Railroad Co. and with the Pacific Power & Light Company, whereby it
now reaches the Pacific Coast territory Seattle, Tacoma and Olympia.
- PROPERTY VALUES AND INDEBTEDNESS
This great company has outstanding capital stock of $15,490,000 and on its issued capital it has
paid dividends without interruption for over twenty-two years. Its present dividend rate is
7. Its total assets, consisting largely of its hydro-electric properties, are valued at $32,
250,873.67, and its total funded debt, including these notes, is $10,446,000, a ratio of safety
equaled in few. of the great companies of this country.
RECOMMENDATION
Having underwritten, these notes, and having been thoroughly familiar with the Washington
Water Power Company financing, we recommend them as a conservative attractive invest
ment, affording an exceptionally high income yield based on the elements of safety and con
vertibility. RENEWALS
As a note issue totalling $3,065,000, largely held by Northwestern investors, matures Feb
ruary 2, 1922, the present total offering of $1,950,000, we believe, will be eagerly subscribed
by the holders of the maturing notes. Orders will be received strictly subject to prior sale and
allotment. Present holders of notes who desire renewals are asked to place instructions at
once with the bond house from which they purchased their present holdings.
Subscriptions may be telephoned or telegraphed at our expense.
Price Par to Yield 6'2
SPOKANE & EASTERN TRUST COMPANY
Spokane, Wash.
UNION TRUST COMPANY
Spokane, Wash.
FERRIS & HARDGROVE
Spokane, Wash.
MURPHEY, FAVRE & COMPANY
Spokane, Wash.
We own and offer:
United States of Brazil
4 Bonds of 1889
These bonds are the general external obligations of Brazil.
Principal and semi-annual interest payable in pound sterling.
Coupons May Be Cashed at Our Office
You may realize on an investment in these bonds
an annual income of
7V2 to 9
and in ADDITION thereto an increase in principal of from
86 to 121
Owing to the probable further increase in the price of Pound
Sterling and to the further decrease in interest rates, we urge
investors to take advantage of this investment opportunity.
Write, wire or phone for further details.
Also Offer
Springfield. Or 6s, due 1931 to net 6.00Tr
Wallowa County, Or., S. D. No. 32. ,6s, due 1941 to net 5.60
Argentine Government 7s. due 1923 to net 7.00',
Province of Manitoba 6s. due 1925 to net 6.50r,'r
Winnipeg, Water 5s, due 1923 to net 6.75' i
E L Qevereaux frQmpany
INVESTMENT BONDS
T SMfVH STREET PORTLAND. OREGON BROADWAY 1042
GROUND FLOOR WELL -FARGO BUILDING
For the $100 Investor,
The Investor with $100 has often proved himself a vital
and powerful force in America's financial system and as
a consequence many Bond Issues are now provided with
$100 denominations. The following Investment Bonda,
for example, can be had from us now in the smaller pieces.
French Cities (Lyons, Marseilles, Bordeaux)
6 Non-Callable Bonds
Principal and interest payable in New York in
U. S. Gold Coin. Direct obligation and only ex
ternal Loan of City issuing same. Financial af
DUE fairs of all French cities under control and super
1934 vision of the French "Government. These three
Cities, next to Paris, are among the largest and
most prosperous in France. Total population,
1918, 1,655,000.
Price 86 Vz To Yield 7.65 ,
Goodyear Tire & Rubber Company
Ten-Year 8'', Debenture Bonds
The Company has a Total Funded Debt of $57,
' 500,000 and Net Tangible Assets as of September
30, 1921, of nearly $137,000,000. Net Sales for
DUE seven months of 1921 were $62,421,179, which is
1931 at the rate of over $100,000,000 per year. Balance
available for interest for the same period was
$6,838,486, which is at the annual rate of over 2.5
times interest requirements.
Price 99V2 To Yield 8.10
More detailed information on request. Car or phone.
Our Partial Payment Plan will
hold these for you.
FREEMAN, SMITH &
CAMP CO.
Uummn Bloo.. Portland
ft