TTTE SUNDAY OREGOXIAN, PORTLAND, JAXTJATtY 22, 1922
21
BROADER
INQUIRY
FOROREGONAPPLES
Demand Improves With More
Favorable Weather. .
T.OOO.000 poandl of wool. It ! ssld that
the balance of the government-owned
srools will be offered at a final (ale on
March 2.
SALES AT EASTERN MARTS
English Growers Flan to Adopt
American System of Grading;
and Packing.
The local demand for apples improved
t the eloM of the week and If the
weather la favSrabls la the coming week,
a good trade la expected. Buyeri were
mora Interested In large than amall alzea.
The latter have been worked off well by
water ehlpmenta. Jobbera reported more
Inquiries also from the east. The gen
eral range of prleea In the local market
was unchanged.
Prleea are tlao holding steady at ship
ping potnta. Wenatche sold cars of Wine
naps, extra fancy, 10 per cent 17Bs and
mailer at 12 2.10.. Taklma sold extra
fancy large to medium Newtowna at 91.90.
large fanoy at $1.(15, and small to medium
holes at $l.v5Ql.&0; also Wlnesaps. fancy
amall te very amall at II 32V4. ebolca very
amall at $1.10 and medium to large at
L01.BO.
At Nearly all the eastern distributing
a-olnta ths markets) were steady, but not
particularly active. New Tork aold Ore
gon apples at auotlon at ths following
prices'. Newtowna, 1470 boxes, extra fancy
large to' vary large J2.8V1J3.23. small to
medium S2.4093.M, fancy all alsea I2.45-9
t.TO. eholcs large to very small S2 4S9
3 00. with a few at 12.10. medium 12.230
2.80; 8818 boxss Newtowr.s, extra fancy
large 83 20, large 12.7898.05. medium
82.4092.TS. fancy large, f2.4092.7fi; me
dium 12.3092.40, email 82.20 9 2 30 ; 600
boxes Rpltsenbergs, extra fancy large
12.8093.03. medium to small 82 00 9 2.75,
fancy, small lot, all alzea. $2.2092.00.
The range of prices at New Tork on
northwestern Newtowna and 8pltzenbergs
to Jobbers was a follows: Spltsenburgs.
sxtra fancy large to very large $8.2093.00,
medium to amall 82.7098, few $3.10, fancy
large to very large, $39 3 23, medium to
mall $2.9092.73; Nswtowns, extra fancy
large to very large $393.23, medium to
mall $2.609 2 70.
The Brltlf h apple growers have recent
ly been devoting considerable attention to
the establishment of grades for their prod
uct and much progress has been made In
this development. The chief reason forj
the movement Is the desirs to place on
the large -British markets an apple grown
In England which will compare favorably
la price with the best American and Aus
tralian product. It has often been stated
In England that the market advantage of
the American apple Is entirely due to the
fact that It la correctly graded and
packed. In this connection the American
agricultures oommlasloner at London ob
serves that the shippers In the United
States, Canada and Australasia have the
advantage not so much becsuse their stock
Is graded to perfection but because they
have large supplies of apples adapted to
meet the grading requirements.
There Is no large supply of British
apples which could be closely graded for
market. The British growers generally
have not paid much attention to market
requlrementa la tha selection of their
trees, nor to the csre and cultivation of
orchards. It has been estimated that In
the ordinary run of ungraded home-grown
pplee not 20 per cent would reach fancy
r extra fancy grades.
POSITION OF 8CGAB MARKET SOUND
Depleted Stocks la Trade Hands Offset
Largo Holdings in Cuba.
Commenting on the position of the sugar
market, which la now tending upward, a
leading authority la the trade sa-s:
"Even though Cuba Is carrying over
from last aeasoa In excess of 1.000.000
tons In visible pot and Invisible Interior
stocks, ths statistical position of sugar Is
fundamentally sound. - Practically the en
tire world'a vlslbiles are being carried in
the western hemisphere, mainly la Cuba.
Invisible supplies practically sverywhere
ar exhausted. This Is particularly applica
ble to largest consuming countries, such
as this and the United Kingdom. Buyers
here hava for practically the paat year
covered only necessary requirements, and
a similar policy haa been pursued by
United Kingdom buyers.
"While such tactics have been most ad
vantageoua to buyers, they have kept In
vislbles down to ths vanishing point. As
Indicated by the recent broadening In
quiry from' Europe and elsewhere, the low
prices prevailing are encouraging many
consuming centers to look to re-establishing
depleted reservee, and should this be
come more general much of Cuba's present
surplus would be distributed throughout
consuming markets and ths soundness of
the statistical position will bs more manifest."
BUTTER DEMAND CHECKED BY RISE
a
Egg Traders Incline! tm Hold Back and
Await Development.
Trade la the butter market was reported
slower yesterday with mors cubes on
hand. There was no increase In receipts
and ths make continues tight, but less
butter Is going Into consumption since the
price was raised. Sellers of cubes asked
up to 84 cents, but the demand waa lim
ited. In the egg trade, the disposition seemed
to be to wait and see how receipts showed
up In the coming week. Some of the
dealers look for heavier arrivals, figur
ing that country shippers held back stocks
during the cold spell. The general buying
prlca offered the country was around 31
cents, case count, but In a few Instances
a cent or two more was offered. Resales
on the street wers mainly on the basis
of 87 cents for candled. The association
announced no change In its selling list.
There was a good supply of poultry on
hand and an Indifferent demand. Hens
sold lower at 25 cents for heavy, and 17
cents for light. Country dressed meats
continued firm.
ADVANCE IN FLOUR IS EXPECTED
raanlly and Bakers' Grade Hay Be
nigner Early la Week.
AM Indlcatlona point to an advance In
the price of family and bakers' grades of
flour early In the week, aa a result of the
continued strength of the wheat market
and provided the strength Is maintained.
The best grades of milling wheat are very
firmly held In the eountry. -
Itlda on all gradea of wheat were ad
vanced 1 cent at tha Merchants' Exchange
session. The strength ot the market Is
slerlved from domestic conditions, how
aver, rather than any foreign demand.
Exporters cablea were of the same un
satisfactory nature aa heretofore, stressing
the pressure of Australian and Argentine
upplles on the European markets and the
consequent lowering of bids for American
wheat.
During the week Australia cleared al
most 6,000.000 bushels of wheat and Ar
gentina shipped 2.223,000 bushels, in the
name period the United 'Statea and Can
ada exported 7.700.OOO bushela Thla large
movement, while tending to clog the
Kuropean markets, Is lightening the load
in thla country and producing a bullish
condition here, while It is having a bear
ish effect abroad. Since the beginning
of the eeason the United States and Can
ada hava sent out over 260.000.000 bushels
of whest. the Pacific northwest supplying
about 45.000.000 bushels 6f this quantity.
The domestic markets, with the surplus
being exhausted, are, therefore, etrength
nlng. while In thla section, where there
li still a considerable supply of wheat,
prices are sympathetically higher, though
there Is no ready outlet for the grain.
The outlet. It Is hoped, will ultimately be
found in the eastern states, where the
millers will need the wheat. To bring
bout the movement, however, there will
have to be a radical readjustment of
prleea
Commenting on the probable future of
the market, a Chicago grain firm said:
The market Is no longer subject to the
crops of the psst season, but Is looking
ahesrt to the coming season, which is de
cidedly bullish, not alone In thla country,
but In western Kurope. As ths winter
wheat seedlngs are not In the best of, con
melon, our outlook Is probsbly the worst
In many years."
The Buenos Aires wheat market closed
1H cents lower and corn I cent higher.
Liverpool whest closed Hd higher and
corn unchsnged.
Terminal receipts, in cars, were reported
by the Merchants' Exchange as follows:
Wh.il vi..
Year aito... 134
Ceas'n to (Ute.l'l -IJl
Year aso... w.oju
Taroma Frl.... 37
Year ago... 7
Bens' n to date. 7.3.-S
Year ago... J.1J4
Seattle Friday 4
Year ago... 22
Ceaa'n to date S.7.u
Year ago... 3 307
... 16 1
1 8 1
140 ns rss
177 3uA 342
I !'!
7S flSS. t6
47 612 82
2 8 ...
iii iis iflj
177 i28 2U8
8
5
inn rt
137S
8
"04S
617
8
ifms
1047
CITBC8 FRUrr PRICES WITHDRAWN
California Shippers Report Great Damage
From Cold Wars
No advances were announced locally In
orange prices as a result of the cold
weather damage In California. Jobbers are
waiting to see If the loss Is as great as
shippers in the- southern state reported,
or whether the damage reports were mere
ly to bull the market. Color la lent to
the rumors of severe Injury to the citrus
fruit crop by the withdrawal of pricea by
the California exchanges.
Florida grapefruit Is advancing la price
as avallble auppllea in that state are
worked off.
A car of Los Angeles Wlnnlngstadt cab
bage arrived yesterday and was put on
sale at 4 cents. Most California vegetables
were firmer.
Bank Clearings.
Bank clearings of the northwestern cities
yesterday were as follows:
Clearings. Balances.
Portland 83,1M!4.244 $ Srtl.007
Seattle 4.340.643 1.202.701
Tacoma 2. 184.003
Spokane 8,838.502
Clearings of Portland, Seattle and Ta
eoma for the last week and corresponding
week in former years were:
Portland. Seattle. Tacoma.
IPIl. .. .27.3i.7Bl 8.'tO,21S.l0 Sl..0.-8.02!i
ltf-'i so.r.oo.ooe 2.M7.0-5 3.2:1:1.844
1H20.... 81.078.4:10 40.5n;,274 b.OOl,20!l
lllie.... 20.857.722 B6.CI.-.3."8 4.144.040
1I11H.... ltl.7,1S.710 27.H7K.O! 8.(128 4;9
117.... 13.38.1.824 17.484.844 2.252,057
1H18.... 8,324.000 10.WHI.418 . 1.440.302
113.... 8,714.304 B.4H3.IIM8 1,680.087
1814.... 9.018.821 10.056,007 1.058.37U
1013.... 0.080,675 10.623.01C 2.231, 625
1912.... 8.815.484 8. 7il. 164 4.172 588
1011.... 8.154.484 S.7.l4 4.172.5SS
1810.... 8,733,663 10,473,313 1,610,178
- 'Total transactions.
PORTLAND MARKET QUOTATIONS
Grain, Floor,' Feed, Etc.
Merchants' Exchange, noon session:
-Bld-
Goternment to Sell More Wool.
Ths next government wool auction is
scheduled to be held at Boston on Febru.
aey 2 wllh offerlnge aggregating about
ARE YOU GETTING TOP PRICES
For Your
VEAL. HOt.S. PUI'LTRT, ET
lfanarrds of Shippers Are, by Ship-
BLUE VALLEyVrOOUCE CO.
Fortk and OlUan Stm, Port land. Or.
4 berks Mailed Dally. W rite for Ta.
HR YOfT LOOKIXT. FOR A IK
I'ttXDAHI.K PHOUITR DEALER t
Veal Batter
Pork her
Poultry Rrci
Honey Any Product
Ask for Intra metkodn anrd to
prepare ahlpmrnta for klitker prleea.
Kl BY A CO.,
169 Front St., Portland. Or.
Jen. Feb. Mar.
Wheat
Hard white $ 1.13 1.33 $ 1.13
Soft whita l.ll l.li i.ii
White club l.ll l.ll l.ll
Hard winter 1.13 1.13 1.13
Northern eprlnv 1.10 1.10 l.Ut
Bed Walla 1.07 1.07 1.07
Oats
No. 2 white feed W.;.0 27 50 27 SH
No. 2 gray 26.00 23,50 26.50
Barley
Brewing 26 00 26 00 26.00
Standard feed 24.00 24.00 24.00
Corn
No. 2 E. T. hlpmrrrt... -24.00 24 00 24.00
No. 3 K. T ("hipment.. . 23.75 23.75 23.75
FIOlR Family patents. $7 per barrel;
whole wheat, 11.20; graham. $6: bakers'
hard wheat, 98.90; bakers' blue tern pat
ents, $6.40; valley soft wheat, 5.45;
straight!!, S.V25.
MIIXFEKD Price f. o. b. mill: Mill
run, ton lota, $22; mixed cara. $21; straight
cars. $20 per ton; middlings, $34; rolled
barley., $3436; rolled oats, $36; scratch
feed, $44 per ton.
CORN White, $32; cracked, $35 per ton.
HAY Buying price f o. b. , Portland:
Alfalfa. $13.50 per ton; cheat, $10.50011;
oat and vetch. $14.50; eiover, $11; valley
timothy, $1410; eastern Oregon timothy
$16017. '
Dairy and Country Produce.
BUTTER Cubes, extras 34 35c per
pound; parchment, wrapped, box lots, 3Sc;
cartons. S!c. Butterfat, buying prices; No.
1 grade. 34c. delivered Portland.
EXiGS Buying price, 81c rase count ;
Jobbing prices, case count, 33c; candled
ranch. 353Sc; association firsts. 3Sc; as
sociation selects, 40c; association pullets,
S6c.
CHEESES Tillamook triplets, price to
jobbera f. o. b. Tillamook, 26c; Young
Americas. 27c pound.
POULTRY Hens. 17ff25c; spring, 22c;
ducks. 22&2&C; geese. 20c; turkeys, live,
nominal; dressed. 42c.
PORK Fancy, 124c per pound.
VEAL Fancy. 16 He per pound.
Fruits and Vegetables.
Local Jobbing quotations:
FRUITS Navel oranges. $4 96.25 box;
lemons. $4.756; grapefruit, $4(fv7 per box:
bananas, 8 4? 9c per pound; apples, $1S-25
per box; cranberries, eastern, $20 per
barrel.
POTATOES Oregon. $1 50r 1.75 per 100
pounds; Taklma. $1. 7542. 23 per 100
pounds; sweet potatoes. per
pound; Nancv Hall, $2.50 per crate,
ONIONS Yellow, $67 per 100 pounds.
VEGETABLES Cabbage, 8fMe Pr
pound ; lettuce, $3.25 t 3.75 erate; carrots
$2 00 per sack; garlic, 15o per pound; green
peppers, 85040c per pound; beets, $2 per
sack; celery. $707.50 per crate; cauli
flower, $2fr225 per crate; squash, 45c;
sprouts. 17Hc; turnips. $2 per sack; pars
nips, $202.50 per sack ; tomatoes, $5.50
pjr lug; artichokes. $..!. per dozen
Staple Groceries.
Local Jobbing quotations:
81'flAR (sack basis) Cane, granulated,
6c pound ; beet. 5.74c per pound.
NUTS Walnuts, new crop, 23036o per
pound; Brasil nuts, 23c; almonds, 27c;
peanuts, 11014c per pound.
RICE Blue Rose. 7c per pound; Japan
style, 6c per pound.
COFFEE Roasted, bulk. In drums, 180
85c per pound.
SALT Granulated, bales. $3.2004.05;
half ground, ton. 50s, $17; 100s. flH.
HO.NEl'-omb, new crop. $5.5006 per
case.
DRIED FRTHTS Dates, lR025c per
pound; figs, $1.40&3.5O per box; apples, i
15c pound: peaches. 16c; apricots, 23c;
prunes. 10H 0 13c. ,
BEANS Small white, 6.85c: targe white, 1
4c; pink. 6c; bayo, 6 65c: red. 6c I
Hides. Hop. Etc !
HIDES 6ait hides. 506o; salt bulls, 40
6c; green bulls lc les: salt calf, 12c; salt
kip, 7c: salt horse hides, $l&it each; dry
horse hldea, 5uc$l each; dry bides, c;
drv cull hides half price.
PELTS Ury pelts, 10fM2c (long wool,;
drv Khort wool pelts, half price; aalt pelts.
60c 011 tac a; dry goat skins, $10 llong ,
hair); shearings and short wool skins at
value.
TALLOW No. l. 4y,c; No. 2, 8 He per
pound.
CASCARA BARK 6e a pound delivered,
Portland.
HOPS 1P21 crop. 16 020c per pound.
WOOL fiastern Oregon. 1503oo per
pound.
MOHAIR Long staple 20c; short staple
15c pound.
Provisions, -
Local jobbing quotations:
HAMS All slses. 37 031c; sktnned. STO
81c; picnics. 20a; cottage roll, 24c
BACON Fancy. 87 0 43c; choice, 250
80c; standard, 22025c.
LARD Pore, tierces, 18He pound; eom
prersed, tierces, 13c.
DRY SALT Backs. 1 ft 21c; plates, 15a
Oils.
LINSEED OTTj Raw, In barrel, Wo,
6-galion cans, $1.04. Boiled, In barrels.
61c; 5-gallon cans, $1.06.
TURPENTINE la drum. $L15; $-gallon
cans. 81.30.
WHITE LEAD 100-pound kegs, 120
per pouna.
GASOLINE Tank wagon and Iron bar
re la 26c; cases. 38 c.
STEELS ARE SOLD LOWER
GULF STATES AXD REPLOGLE
REGISTER LOSSES.
4.23
2. 25 ffi S.2S
8.0O 400
.60 10.50
8..V0'tf 8 60
.i0 8.50
A. 50
g.75'2. 00
7.003 e.oo
S.00,9 7.00
8.7 9.00
8 75 9.00
&00 6 8.00
9.00 9 9.TS
s.ooa 9.00
e.so'S 8.oo
4.50'd 0.00
7 0O 800
TOO 7.50
.00 7.00
&lOa 6.50
4.00 6.50
a. oo a e.oo
FIFTEEN LOADS OP BOGS RECEIVED
Shipment Comes Direct to Packers and
Then Is Vo Open Trading.
There was no tradlns; at the stockyards
at the. close of the week. Fifteen loads
of hoss. containing 1.150 head, arrived, but
they ware shipped direct to local packera
and there was oothloc available fur the
open market
prices quoted at the Portland TJnnoa
stockyards were as fowews:
Cattle Pricea
Choice steers 7.00 T.50
Medium to good eteere -"5 tt 7.00
Fair to medium steers. 0'"i
Common to fair steers 4.T&9 8.75
Choice feeders &003 &.5J)
FaJr to good feeders 4.5a 5-00
Choice cows and heifers 6.25tg 5. i5
Medium u good oows. heifer... 4.7o9 5.23
Fair to medium cows, heifers.. 4.2A04.75
Common cows ...........
Cannera .................
Bulls . .
Choice dairy calves .....
Prime Ugrht calves ......
Medium light calves
Heavy calves
Hogs
TT-tm Hrht
Smooth heavy. 200 to 800 Vta.. 8 00'a' 8.50
(amA... v.... ... mn iwiunl. tin.. TOOft S.OO
Rough heavy
Fat pigs
Feeder pigs . .-.
Stags, subject to dockage ...
tiheep
Fast of mountain lambs ....
Bt vattey lambs
Fair to good
Cull lambs
Eastern Oregon feeders
Light yearlings
Heavy yearlings
Light wethers
Ha.vy wethers
Ewes
Chicago Livestock Market.
CHICAGO. Jan. 21. (United States Bu
reau of Markets.) Cattle Receipts 600.
Compared with week ago: Beef steers and
fat cows and heifers mostly 25 to 50 cents
lower: canners and cutters fully steady:
bulls 15 to 25 cents lower; veal calves 75
cents higher: common and medium grade
feeder steers weak to 25 cents lower;
others and stockers steady.
Hogs Receipts 11,000. active; mostly 10
to 15 cents higher than Friday's average;
packing sows and plge about steady; ship
pers bought about &500. good clearance;
top 1S.73 on light lights; very few over
o.0; bulk. S SS 35.
Sheep Receipts 3000. Today's receipts
nearly all packers direct. Compared with
week ago: Fat lamba 25 to 40 cents high
er: fat sheep and yearlings 25 to 50 cents
higher; feeder lambs 50 to 75 cents high
er, week closing at the htgh spjt.
Kansas City Livestock Market.
r . .... . II tit . . . "1 1 TTnJ.&H
States Bureau of Markets.) Cattle Re
ceipts 250. For week: Beef steers mostly
15 to 25 cents lower, top S8.10; fat she
steady; stock cows, heifers and klilrng
ers steady to 2ft cents higher.
nose necBiJLa ww, b.ii.i.hj b.cauj .
strongs. Spots higher. 170 to 250 pounds
mnaflv IT Mtrfl' n.rkr ton. XM.
Sheep Receipts 200O. on through bUHna.
steady to 25 pen to lower; to, ,12.35,
Omaha livestock Market.
OMAHA. Jan. 21. (United States Bu
reau of Markets. ) Hogs Receipts 0000,
active, 5 and 10 cents higher; medium
weight butchers up most, top $8; bulk of
altMt, 17.70 7.90l
Cattle Receipts 225. Compared with a
week ago: Beef steers mostly 25 cents
lower: she stock steady to 25 cents lower;
bulls about 25 cents lower; veals 25 and 50
cents higher; stockers and feeders lo and
25 cents higher.
Sheep Receipts 20O. Compared with a
week ago: Lambs 85 and 85 cents hisrher;
sheep, yearlings and feeders, SO and 75
cents higher.
Prattle livestock Market.
SEATTLE. Jan. 2L Cattle and hod
steady, no receipts; no price changes.
SAN FRANCISCO PRODUCE MARKET
Prices Current on Vegetables, Fresh Fruits,
Etc., at Bay City.
SAN FRANCISCO. Jsn. 21. (Stats di
vision of markets) Fruif Apples. Shi
and 4-tlor, $1.40(3-30; oranges, navel,
2. 254. 50: lemons, $2.0O4.O0; grape
fruit, $2.504.75; cranberries, box, 54.00,
5.50: pears, box, 91.75 02.75.
Poultry Broilers, 36 & 38c; young roost
ers. 2431c; old, 1720c; hens, 2482c;
ducks, 2225c; turkeys, live, nominal;
dressed. 4141 4 (lc.
Vegetables Artichokes, case, 1820;
beans, pound, 12l6c; carrots, sack, 9Oc0
$1; celery. crate, $3(575; cucumbers,
dozen. $1.2093; eggplant, pound. 5ti15c;
lettuce, small crate, $1.25(H; muahrooma
small box. 50675c; olives, pound. SfcAc;
onions, cwt- brown, $5.750.25; white
globe, $7.5093; peas, pound. 15d20e; bell
peppers, pound, zua-oc; potatoes, ti."
2.tto; pumpkins, sack, 75ctj$l; rhubarb,
box, $1.75113.25; summer sqnash. small
crate, $30 3.50; hubbard, sack, $191.30;
aprouts, 9llc; spinach, pound, OQJlOc;
tomatoes, crate, $2j2.25. '
Recepts Flour, 4700 quarters; wheat,
30 centals; barley. 5431 centala; corn. 60
centala; potatoes, 50S5 sacks; hay. 80 tons;
hides, '1076; oranges and lemona, 800
boxes; livestock. 23 head.
QUOTATION ON DAIRT PPBODUCT8
Current Prices Ruling on Butter, Cheese
and Eggs.
SA2 FRANCISCO. Jan. 21. Dairy pro
duce exchange cloned. ,
NEW TORK, Jan. ill. Butter Irregu
lar. Eggs Firm.
Cheese Irregular.
CHICAGO, Jan. 21. Butter Higher.
Creamery, extras, 83 tyc; firsts, 2732c;
seconds. 252oc; standards, 30c.
Eggs Lower. Receipts, 8A49 cases;
firms. 84c; ordinary flrats, 29631c; mis
cellaneous. 32 34c .
SEATTLE. Jan. 21. Eggs, select local
ranch, white shells, 3oc; do mixed colors,
34c: pullets. 32c.
Butter City creamery cubes, 38c; bricks
or prints, 87c
Coffee Futures Close Higher.
NEW TORK, Jan. 21. The market fof
coffee futures opened unchanged. Closing
quotations were at the best of the day.
snowing net advances of 4 to 8 points.
Sales were estimated at about 11.000 bags.
Closing quotations: January 6.45c; March
8 55c; May, 8.43c; July, 8.81c; September,
8.34c; October, 8 34c; December, 8.29c
b'pot coffee, du.l: Rio 7s, 9c to 9ic;
Santos 4a. 12Q12KC.
Naval Stores.
SAVANNAH. Ga., Jan. 21. Turpentine
firm. 84c; sales, 34. barrels; receipts. 42
barrels; ahipmenta, 2o barrels; stock.
12.033 barrels.
Rosin firm; aalea, 498 barrels; receipts,
861 barrels; shipments, 860 barrels; stock
84.190 barrels. Quote: B. $4; D. E, F,
$4.10; Q, H. 1, $4.15; K. $4.60; M, $3.10;
N. 30.30; WO, $3.60: WW. $9.
New Tork Sugar Market.
. NEW TORK, Jan. 21. Raw sugar, cen
trifugal, 8. 79c; refined, fine granulated, 5c
Cotton Market.
NEW TORK. Jan. 31. Spot cotton quiet
Middling. 18.05c
Dried Fruit at New Tork.
NEW TORK, Jan. 21. Evaporated ap
ples scarce; prunes quiet; sprtcots scarce;
peaches firm snd rsiatns steady.
East Fork Association Elects.
HOOD RIVER, Or.. Jan. Jl. (Spe
cial) At the annual meeting- the
East Fork Farm Loan association
yesterday named officers as follows:
A. I. Mason, president; J. L. Hershner,
vice-president, and R. . Scott, secre
tary. Loans aggregate $170,000. Ap
plications for additional loans total
$40,000.
Specialties Are TJnder Bearish
Pressure Bond Market Has
Easier Tendency.
NEW TORK. Jan. 21. Early tendencies
toward Improvement In the stock market
today were nullified by the resumption of
liquidation and short selling of selected
issues of the industrial variety.
Of these. Gulf States Steel was the most
conspicuous example, making a further de
cline of 7i points to 64, that quotation representing-
an extreme reaction of 26
points from yesterday's high.
Replogls Steel, another recent spectacu
lar feature, sustained a net loss of three
points at 82. sr nine points from yester
day's maximum. . Other steels, notably
thoss mentioned In merger rumors, were
lower by one to three points.
Equipments, motora oils and miscel
laneous atocka of the chemical, textile and
tobacco groups fared similarly and rails
moved listlessly.
Firmness and occasional strength were
shown by coppers, shippings and chain
store Issues, local tractions also harden
ing. Sales were 500.000 shares.
Trading In bonds was fairly aotlve. but
changes la government issues showed net
losses Doraestlo rails also eased and In
ternationals wers Irregular with ths
foreign exchange market. Total sales, par
value, aggregated $9,875,000.
Clearing bouse loans and discounts
showed an actual contraction of $32,561.
000. or almost three times the expansion
reported last week. An Increase of $23,
467.670 In actual cash holdings lifted ex
cess reserves to approximately $40,000,000.
CLOSING STOCK QUOTATIONS.
(Furnished by Overbeck Cooke oom
pany of Portland.)
Stock bales. High. Low. Bid.
A dms Exp.. 800 6314 62 621,
Advance Rum 100 Uli lis Uk
Agr. Cham... 600 S3 321, 82
do pfd 67
Ajax Rubber. 2,800 1414 13 44 14
Alaska Gold.. UK) . 4,
Alaska Juneau 400
Allied Chem.. 2.0UO 69 684. 681,
Allls Chalmers 2,700 45 44 44
do pfd 200 91 91 91
Am Beet Bug. 8K 87 86 86
Am Bosch.... 200 88 87 87H
Am Can Co... 2,000 84 34 83
do pfd 05
Am Car A Fdy 145
do pfd .... 115
Am Cot Oil... 600 21 21 .21
do pfd 200 42 42 42
Am Drug Syn 3,900 6 Si 6 614
Am Hide A L. J314
do pfd .... 800 6214 614 6114
Am Ice 400 8414 84 84
Am Intl Corp 1,900 4 40 40V4
Am Linseed... 100 3114 81 V4 8114
do pfd 681,
Am Locomo... 1.000 10614 105 I06
do pfd 113
Am S. A C... . 700 9 814 " 814
Am Smelter.. S.2M0 48 46)4 4714
do pfd .... 100 91 91 90V4
Am Snuff 2H0 114 111 113
Am Soeel Fdy 1.600 3314 8314 8314
Am Sueur ... 8,000 67 oj UB "4
do pfd 9314
Am Sumatra. 1,800 35 84 3414
Am Tel & Tel 1.300 117 117 11714
Am Tobacco..' 600 1334 13214 IX'-V,
do "B" .... 400 129 129 129
Am Wool .... 2,900 83 82 82
do pfd 104
Am W P pfd. 600 25 23 25
Am Zinc .... 100 14 14 14
Anaconda .... 11.000 50 49 50
Assoc Oil 101
Atchison 300 97 97 ' 97
do pfd .... 200 87 87 87
At G & W I. 800 80 e".74 29
Baldwin Loco 7.700 97 96V4 97
do pfd 103
Bait A Ohio. 600 34 84 84
do pfd .... 100 54 64 53
Beth Steel 'B' 5,100 60 6M 6U
Booth Fish... 100 7 7 7
B R T 2,000 9 9 9
Butts C Z. 200 6 ' 6 '6
Butte & Sup.. 2,200 27 26 26
Burns Bros... 300 117 116 116
Caddo Oil 11
Calif Packing 100 70 70 70
Calif Pet 47
do Pfd .... 100 87 87 86
Canadian Pac 2u0 124 124 124
Central Leath 8.400 83 82 32
Cerro de Pasco 2.400 85 84 34
Chand Motor. 4.700 61 60 60
C & N W.... T.400 64 64 64
Chgo Gt W.. 200 6 6
do pfd 1
Chill Cop ... 14.700 18 17 18
Chlno 1,400 28 27 28
C M St P 400 18 18 18
do pfd .... 1.2O0 82 81 81
Coco Cola ... 1,300 44 43 43
C A O '. 36
Colo F A I.. .1.000 2S 27 27
Colo Southern 2O0 39 39 89
Col Gas A El 1.300 68 68 68
Colum Graph. 1,700 1 1 1
Con Gas 600 93 93 93
Cons Cigars . 21
do pfd 100 63 63 62
Contl Can ... 2oO 61 61 41)
Cities Svc B 18 19 19
Corn Prod ... 7.100 99 9o 98
Cosden Oil .. 6,200 85 84 84
C R I A P. . . 400 32 81 81
do "A" pfd. 100 8 86 86
do "B" pfd SOO 73 73 73
Crucible 5.800 62 60 60
do pfd .... 200 8 1 81 81
Cuba Cane .. S.3O0 10 9 9
do pfd .... 6.900 22 21 22
Cu Amn Sug. 6.300 20 19 19
Del A Hudson 100 108 108 107
Dome Mines . 200 21 21 21
Del A Lack.- 100 113 118 113
Davison Chem 6.400 55 53 54
Endl Johnson. 1.0OO 80 80 80
Erie 500 9 8 8
do 1st pfd.. 3O0 13 18 13
do 2d pfd.. 100 9 9 8
Fain Players. 11,000 81 79 79
Fd Min A Sm . .' 9
do pfd 89
Flak Tire .... 400 12 12 12
Gaston Wms
Gen Cigars .. 200 73 72 72
Gen Elec .... 1.0O0 144 143 143
Gen Motor .. 2.500 6 8 8
Glen Alden 47 47 46
Gen Asphalt.. 2.R00 60 68 38
Goodrich .... 500 38 87 37
Goodyear .... 11
Grareby 700 30 29 29
Gt Nor Ore... 6O0 32 82 81
do pfd .... 100 73 73 73
Gr Cananea . 3O0 28 28 28
Gulf S Steel.. 11,4(K 73 64 64
Uask Barker. 200 83 83 82
Houston OH . 4O0 75 75 74
Hupp Motor . 900 13 13 13
Ills Cent .... 100 101 101 101
Inspiration .. 8,300 40 39 40
1st Ag C com 7
do pfd .... . 300 84 34 84
Interboro .... l.loo 2 1 1
do pfd .... 1,600 5 6 6
Int Callahan. 2o0 6 6 6
Int Harv 1.800 83 84 85
do pfd 100 100 100 100
Int Merc Mar 13
do pfd .... 500 66 65 65
Int Nickel ... 4,100 12 12 12
Int Paper ... 1.100 60 49' 48
Invincible Oil 3. 500 15 14 15
Island Oil ... 11.500 2 2 2
Jewel Tea ... 7O0 12 12 12
K C Southern 100 22 22 22
K C Southern. 34
Kelly-Spgfid . 800 37 37 37
Kennecott .... 3.3oo 30 28 29
Keystone Tire. 600 17 16
Lack Steel. . .. 1.500 49 48 48
Lee Tiro 28
Lehigh Valley. 1,400 69 69 69
Lorillard 300 150 150 149
Lowe Theaters 800 13 13 13
L A N 100 113 . 113 112
Mackay 75
Mariand Oil.. . 400 24 23 24
May Stores... 500 107 106 107
Mex Pet 6.9O0 114 112 112
Miami 1.100 27 2714 2741
MldStatesOlI 8.600 12 12 12
Mid vale Steel. 9,500 32 31 31
M. K A T 'Wl' 100 8 8 8
dopfdwr.. 100 23 25 25
Vont Power... 400 70 60 ' 70
Mont. Ward... ' 3O0 14 14 14
Mo Pac 8O0 16 16 16
do pfd 45
M St PAS S M 65
Nor Amu 600 51 61 61
Nat Biscuit 134
Nat Enamel. .. 800 36 3
Nat Lead 6O0 n 0 8!
Nevada Con... 2.000 13- 13 13
New Haven... 8,300 15 13 15
Norfolk AW.. 100 90 99 98
Nor Pac 800 76 76 76
Nov Sco Steel. 800 27 26 2fl
NT Air Brake 100 61 61 61
N T Central.. 600 74 7414 74
Okla Prod ref. 1.20 2 2 2
Ontario Sliver. 20 5 6 6
Ontario A W.. 200 2! 21 21
Otis Steel 1.100 12 12 12
Pacific Dev... 8 I
Pac G A E 70O 63 .-, .-,
Punta Allegro. S.sno 37. 36 - 87 I
Pacific Oil 3.800 46 43 46
Pan Amu Pet. 2.400 52 62 62
do B SOO 47 47 47
Penna ....'... 1,600 34 34 34
Peo Gas 1.000 69 69 69
Pt-re Marq 20
Pure Oil. . .J.. 200 33 35 85
Phillips Pet.. ion 30 30 29
Pierce Arrow.. 1.800 16 16 1
Pierce OH 800 9 9 9
Pitts Coal 700 61 69 6B
Pitts A W Va 100 24 24 24
do pfd 78
Pr Steel Car 64
Pullman 60 112 112 111
Kay Cons 800 13 14 15
Reeding 2 800 73 72 T3
Remington ... 3.200 84 81
Hep I A 8... 2.700 63 64 54
do pfd . 200 . 89 86 M
Pep Motors 7
P.yl Dutch Oil. 1.300 31 51 31
Ry Steel Spg 96
Stand Oil N J. 700 181 179 178
Sears Roebuck 1.7O0 63 63 62
Phatturk Aria 2O0 6 8 - 8
Ulli I t I 87 I
Slnelxlr
Stand Oil Ind.
.Muss Shet ...
So Pao
so Ry
Stand Oil CaL
St L S F. . . .
Strom Carb .
Studebaker
Swift A Co...
Tenn Cop A C
Texas Oil ....
Texas Pac . . .
Tex Pac C A O
Tob Prod .
Tran Cont Oil.
Union Oil Del.
Union Pao ...
United Alloy .
United Drug..
Un Fd Prod . .
United Fruit .
Un Rds of N J
Union BAP.
Un Retail St..
U 8 Ind Alco.
U S Rub
do 1st pfd..
U S Smelt ...
U S Steel.....
do pfd .....
Utah Cop ....
Va Chem ....
do pfd . . ...
Vanad Steel ..
Vlvandou .....
Wabash ......
do A pfd ..
do B pfd...
Wells Fargo ..
West Pao ....
do pfd .....
West Union . .
Wtghse S411
West Md
White Motora.
Willys-Over ..
do pfd
Wilson Pack...
Wis Cent
Woolworth ...
Worth Pump..
WALE ....
Whits OU
1.900
LlOO
7H
2.100
4.700
600
" "406
14.600
'"boo
6.4110
1.900
1.400
400
1.200
2O0
1.000
100
900
S.9O0
1.300
""166
7.000
2.400
1,100
100
Sod
18.600
1.000
6.000
500
'600
1O0
100
1.800
100
200
20
87
43
81
17
93
"46
89
100
10
46
23
25
64
10
li
129
2A
71
7
128
"H"
63
43
56
100
87
87
65
28
"3"
6
6
20
J3
80
jn
42
81
17
95
40
87
100
9
43
24
24
64
9
19
12S
23
70
7
128
"71"
54
.42
53
100
86
86
"63
2? J.
"83
6
6
19
18
80
400 61 61
800
200
39
6
88
6
100 12 82
600 148 148
1.100 47 47
200 6 .6
1.000 9 0
BONDS.
U S 2s reg....'101 No Pac 4s
do cpn 101 I do 8s
do 4s reg...104IPao TAT 6s..
do cv 4s cpn104lPenn cons 4a
Pan Ss reg 80ISo Pa cv 6s...
do cpn 80iSo Ry 6s
A TAT ov. 6s.. 110 Union Pao ....
Atohsn gen 4s. 881U S Steel 6s...
D A Rto oons 4s 74
NYC dsb OS. 99 I 'Bid.
20
86
41
81,
17
94
21
40
66
100
10
43
23
23
64
9
19
128
29
71
7
126
8
69
65
42
54
100
86
80
117
64
28
68
8.1
6
6
19
' 12
80
15
63
91
51
8
8
5
29
81
25
148
47
6
8
86
61
94
94
96
90
91
101
Liberty Bond Quotations.
Liberty bond and victory bond quota
tions at New Tork as furnished by Over
beck A Cooks company of Portland:
Open. High. Low. Close.
Liberty. 8s.... 97.02 97.02 96.74 96.80
do first 4s .... 97.00
do second 4s 97.00
do first 4s... 97.90 97 90 97.50 97.62
do second 4 lis. 97 36 97.86 97.10 97.20
do third 4s. .97.88 97.90 97.78 97 80
do fourth 4s. 97.50 97.50 97.20 97.30
Victory 4s 100.18 100.20 100.16 100.18
do 3a 100.18
Mining Stocks at Boston.
BOSTON, Jan. 21. Closing quotations:
Alloues ........ 29
A nx Com ..... 9
Cal A Arts.... 59
Cal A Hecla...279
Centennial .... 9
Cop Ra Con Co 44
Mohav
No Butte
Old Dom
Qulncy ..
Superior
67
14
2
44
2
sun A Bos Mln 1
a Butte Cop M. 11 Shannon 1
Franklin 111'tah Cons 1
isle itoyalle ... zo Winona sa
Lake Copper . . 2)Wo!verlns 10
Swift Co. Stocks.
Closing prices for Swift A Co. stocks at
Chicago were reported by the Overbeck &
Cooke company of Portland as follows:
Swift A Co 100
Llbby. McNeil A Llbby 6
National Leather 2
Swift International 21
1
Honey, Silver, Etc.
NEW TORK, Jan. 21. Foreign bar all
ver, 64 c.
Mexican dollars, 49 c
LONDON, Jan. 21. Bar silver 84 d per
ounce. Money 8 per cent. Discount
rates: short bills. 8 per cent; thres
month bills, 18-16.
BILL WEEK IN STOCK MARKET
Burners ef Steel Mergers Create Demand
for Shares.
NEW TORK. Jan. 21. A ware ofullish
speculation swept over the stock market
this week, the movement' being reminis
cent of ths many feverishly active sessions
which characterised ths protracted war
period.
Shares of the Independent or secondary
steel groups were foremost in the advance,
which also comprehended equipments, mo
tors snd an unusual assortment of special
issues including sugars, The railway list
was neglected and oils, in which further
price cuts wers made, fared only indif
ferently. Cumulative signs that mergers of the
various Interests in the steel and Iron
trade are assuming definite form accel
erated demand for such stocks- It may not
nave accounted, nowever, lor the extra
ordinary gyrations of Gulf States and
Replogle Steels
Very much the same reasons applied
with equal force to the strength of shares
of sugar, copper and other companies
wmcn rumor or gossip credited with simi
tar plans to meet the new era of re
construction and readjustment.
Observers of tbe week's business were
of the opfhion that an overwhelming pro
portion of the trading emanated from
professional sources Active participation
or commission houses with important con
nections at middle western centers was in.
dlcatlve, however, of a moderate revival
o public Interest.
Apart from a recurrence of the 6 per
cent rate tor call money, que mainly to
tne reouction ot local reserves by out-of-town
banks, the money market retained
much of its recent esse on more liberal
offerings of time funds Some short time
accommodations were made on the un
usually low basis of 4 per cent, with
liberty bonas as collateral.
Continued confidence marked the In
vestment situation, new corporate offer
ings Including the Southern Railway $30,
000,000 bond issue, ss well ss numerous
state and municipal undcrwritlngs, meet
ing witn reaay aaie.
There waa also a good inquiry for many
of ths old line or pre-war railway bonds.
The one disquieting note of the week
wsa sounded in the market for foreign
exenange. Lenaon ana Paris advices plain
ly expressed the concern manifested in
nign financial quarters at tbe latest shift
in Anglo-French affairs
New Tork Bonds.
New Tork bond quotations furnished by
Herrln A Rhodes. Inc.. of Portland.
Mat. Price
Am. TeL A Tel. 6s... 1W22 100
Am. Tel. A Tel. s 1924 101
Am. Tob. 7s 1922 101
Am. Tob. 7s 1923 102
Anaconda 7s B 102'J 101
Anaconda 6s 1929 98
Armour cv. 7s 11(30 103
Armour 4s 1939 88
Argentine GI 6s 1945 78
Am. Ag. Chin. 7s 1U41 101
Beth Steel 7s 11122 100
Beth. Steel 7s '. 1923 101
Beth. Steel Eq. 7s 1935 101
Belgium Ext. 7s 1945 107
Belgium 6s 1925 95
Belgium 8s 1940 106
Bergen 8s. City of -. 11145 105
Berne 8s. City of 1U45 108
Brazil 8s 1941 104
Canadian 5s 11126 97
Canadian 5s 11131 97
Canadian 5s 1937 96
Can. Nat. Eq. 7s .. 1935 107
Chi. A N. W. 6s... 1938 108
Chicago, N. W. 7s 1930 107
C. M. A St. P. gn.Arf 4s A. 2014 37
Can. Nor. 7s 1940 110
Chile 8s 1941 101
Chrlstianla 8s. City of 1945 107
Copper Exp. 8s 1922 100
Copper Exp. 8s 1923 11(2
Copper Exp. 8s 1924 102
Copper Exp. 8a 11125 104
Cuban Amer. Sugar 8s 1931 103
Con. Gas cv 7s 1925 104
Dla. Match 7a 1J33 109
Denmark 8 - 1945 107
Danish Mun. 8s 1945 106
Duuont 7s 1931 104
Grand Trunk 7s 1940 110
Goodrich 7s 1925 97
Goodyear 8a 1941 112
Gulf Oil 7s 1933 103
Great Northern 7s 1936 1118
Herahey 7s 1930 99
Humble Oil 7s 1923 100
int- nap. J u. rei. as ltie t3
Int Mar. CT 6s 1941 92
Int. Kan. Tr. "s 1921 63
Kelly Springfield 8s 1931 104
Kennecott 7s 1930 102 1
Llbby, McNeil A Llbby 7s 1931 99
Morris A Co. 7s 1930 103
Mexican Pet. fis 1936 101
N T. C rnM 7c 193(1 1(16
Norway 8s
N. p. a O. N. Jnt)'s.
N. P. 6s
Northwest Tel. 7s........
Ohio C. O. 7s
Ohio Power 7s
Pan. Amer. 7s...........
Penna 6s
Rua Rubles 5s
San Psulo 8-1
Southwest Tel. 7s........
Swedish Govt. 6s
Standard Oil N. Y. 7s....
Stand. OH of CaL 7a
Sleel A Tube 7s
Swiss 8s
Sears Roe. 7s............
Sears Roe. 7s. .......... .
Sinclair 7s
Swift A Co. 7s
Un. Tank 7s
Uruguay Ext. 6s.
IT. s. Rubber 7s
Wilson 1st 6s
West. Elec. 7s
Westinghouse 7s ........
Zurich 8s
1940
19
2047
1941
1923
1931
1930
1936
1!26
1936
1923
1939
19.11
1931
1931
1940
192S
"193
1925
1923
1930
1930
19J8
1923
1931
1945
109
107
107
108
99
101
97
106
4
102
101
93
110
106
99
118
loo
98
101
101
102
64
103
87
107
107
108
do 1st 4. 1933.
do 3d 4a 195..
Norway 8s. 1940.-..
Ruasian 6 a. 1921..
do 5s, 1926 . .. .
rto -. 1919
Swiss 6s. 192....
do 8s. 1940
San Paulo 8s. 1921..
do 5s, 1922
do 5s. 19--9 ....
do 5s. 193T
... 87
... S6
...109
... 18
...
... 18
... 7
...113
...102
...1(
...lx
... 98
7
86
109
20
5
19
97
113
102
1
100
98
Foreign Exchange.
Foreign exchange rates st ths close of
business yesterday, furnished by North
western National bank of Portland. The
foreign unit In United 8tates funds:
Country Foreign unit. Rate.
Austria, kronen .0007
Belgium, francs ...i.... .0782
Bulgaria, leva .0082
Czecho-Slovakla. kronen 0182
Denmark, kroner 2010
England, pound sterling 4..2300
Finland, finmsrk 0193
France, francs .ON 12
Germany, marks .0033
Greece, drachmas .0443
Holland, guilders .86242
Hungary, kronen .0020
Italy, llrs .0440
Jugo-Slavla, kronen .0040
Norway, kroner .1370
Portugal, escudos ................. .0830
Roumsnla. lei .................... .0082
Serbia, dlnara 0153
Spain, pesetas 13O0
Sweden, kroner .2496
Swltxerland, francs 1930
China-Hongkong, local currency... .8300
Shanghai, taela 7730
Japan, yen .4850
NEW TORK, Jan. 21. Foreign ex
change Irregular. Great Britain, demand.
$4.20;. cables. $4.21. France, demand,
8 09; cablea 8.10: Italy,' demand, 4.87;
cablea 4.38; Belgium. demand. 7.76;
cables, 7.77. Germany, demand. .50; cablea
.60. Holland, demand, 36.88; cables,
36.44. Norway, demand, 13.60. Sweden,
demand. 24.87. Denmark, demand, 19.95.
Switzerland, demand, 19.41. Spain. de
mand, 14.92. Greece, demand, 4.30. Argen
tina, demand, 83.87. BraslL demand.
12.62. Montreal. 94.
Foreign Bonds-
Foreign bond quotations
Overbeck A Cooks oompany
Be!gian rest 6s 67 70
do prem 5s 75 78
do 7s, 194S 107 107
do 6s, 1941 106 100
do 6s, 1923 95 93
Brazil 8s. 1911 104 104
British 6s. 1922 8.8 89
do 5s. 1927 87 88
do 6e. 1929 65 87
do yky 4s 68' 69
do ref 4? 64 66
Bordeaux 6s. 1934 83 84
Canadian 5s, 1937 9rt 98
do 5a 1926 87 97
do 6s. 1929 98 98
do oe, 1931 97 97V
do 5s. 1927 9414 961.
Chilean 8s, 1941-C 101 102
Currency 8 10
Denmark Se, 1943 107 10
Dan. Muni 8s. 1945 1061. 107 li
Chinese 5s 44 44
French 4s. 1917 49 60
do 3s, 1920 7U 73
do 5s. 1931 63 64
do 7s, 1941 93 93
do 8s. 1943 100 10
German W L 6s 8 4
Berlin 4s 4 6
Hamburg 4s ................. 4 6
uo 4s 4 6
Lelpslg 4s 5 6
an .s Bli T
Munich 4s ................... 5 6
do5e 61 7V
Frankfort 4ft 6 6
Italian os, 191 S3 84
4. 1931 73 731
Standard Oil
Standard Oil stocks
nlshed by Overoeck A
Portland:
furnished by
of Portland:
Bid. Ask.
Angle
Borne Scry amer .......
Buckeye
Cbeeeebrouga .........
do pfd ..............
Continental ...........
Crescent .. ......... ...
Cumberland
Eureka
Galena com .... .......
Galena Old pfd
Galena New pfd
Illinois Pips
Indiana Pipe . . .'.
National Transit ......
N. Y. Transit
Northsm Pips ........
Ohio Oil
International Pets ....
Penn Mex
Prairie Oil ,
Prairie Pipe
Solar Refg
Southern Pipe ........
South Penn Oil .......
S. W. Penn Oil
8. O. Ind.
8. O. Kansas
8. O. Ksntuoky SAA....
8. O. N. Y
S. O. Ohio
do pfd
Swan A Finch
Vacuum
Washington ...........
S. O. Nebraska
imperial Oil
Btoeka,
st New Tork. fur
Cooks oom4any of
Closing
Bid. Asked.
17 17
830
93
183
110
134
82
145
83
42
107
103
172
91
24
150
9-3
903
15
IS
633
234
890
84
19l
35
86
6 SO
430
83
83
116
86
S32
85
17
103
Largs Increase la Excess Reserves.
NEW TORK. Jan. 21. The actual con
dition ot the clearing house banks snd
trust companies for the week shows that
they hold $39,652,970 In sxcess ot legal
requirements This Is an Increase of
$23,467,670 from last week.
825
90
173
lo
ISO -
SO
15
SO
40
103
1O0
167
o
1-8
145
92
SOO
14
16
530
230
37U
Kl
ISO -
62
86
660
440
84
36
114
30
$27
30
ll
101
ROAD MONEYAIDS VALLEY
Federal Appropriation Is Boon to
Trout Lake District.
OLI-ER, Wash., Jan. 11. (Spe
cial.) A bill passed by congress appropriating-
S,000.000 for roads and
trails in and near national forests
will be a boon to the Trout lake val
ley. The forest service Is willing- to
fro 50-50 on the road from Guler to
Husum. eight miles from White
Salmon, and a plan la - now being
worked out whereby $76,000 to $100,
000 can be raised. This, with an
equal amount from the federal gor
ernment, would make a fine macadam
road.
The road from Husum to White
Salmon Is being improved by the
county and when completed will be
turned over to the state for main
tenance. New Mill Will Cut Cedar.
ABERrEET. Wash., Jan. 21. (Spe
cial.) W. S. Wray will build a one
machine shingle mill near the Satsop
railroad station. The property la
owned by the town of Satsop. The
mill Is expected to start In about 60
days. Cedar will be obtained from
nearby tracts.
We own and offer
6
Extrqmely High
Grade Municipal
Bonds
Price to Yield
LANE COUNTY, OREGON 5s...... 4 to 5
Due serially May 1, 1931-1945.
BENTON COUNTY, OREGON 5s 5.00
Due serially Sept. 1, 1936-1929.
MALHEUR COUNTY, OREGON Sfts 5.10
Due serially Deo. 1, 1927-1939.
MARION COUNTY, OREGON 5'2s 4.90
Due July 15, 1930.
YAMHILL COUNTY, OREGON 52s 4.90
Due August 1, 1931.
UNION COUNTY, OREGON 5Vzs 5.00
Due serially July 15. 1927-1932.
The general obligation bonds above listed are the high
est type of security that csn be issued by any community.
Both principal and Interest Is paid out of taxes and se
cured bv all taxable property within the county. .Such
bonds are liens that are prior to all other forms of in
debtedness. Free from all Federal income tax.
Legal Investment for Savings Banks and Trust Funds
in Oregon.
Telephone or telegraph orders collect.
Details on request.
BOND DEPARTMENT 0PEN-8:30 TO SiOO
Saturdays) 8:30 f 2:00
&. TBLOTN
BANK
Oldest in th Northwest
WASHINGTON
at THIRD
71 v I V I V. V 1 V I V PiTiTiT iTiTTI TTmmTTWTTTTTTfNl
invested monthly
in 6 per cent bonds
in 30 years will
amount to $50,000.
Our Partial Payment Plan Makes It Easy
Do It Now
Ask for
. details
of our
P. P. P.
Freeman, Smith & Camp Co.
Lumbermens Bldg, Portland.
Please sen me details of your
Partial Payment Plan.
Name
Address
A BIG UPWARD SWING
YOUR OPPORTUNITY
INVEST NOW!
In the following low-cost Diversi
fied Stocks on the
WOLF
TWENTY-PAYMENT
PLAN
"Will Increase Your Income"
4 Shares Reck Island.. St 124
4 " Slnrlslr Oil. ..lVi TT
4 " Chile topper . 13V, 42
4 1 a e kasiiai
Steel 44Vb 1T8
4 " C o a aollriated
Textile. ... 14 64
94U1
Commission 3
Total Psjrekase fSOO
A first payment ef SIOO (SO'V of
psrraias price) bayn the above
aeemrtrtes for yemr neeount. tbe
balance suhfet to adjustment of
actual pricea on the day of pur
rkaae, with Interest at 6 he Ins:
payable la twenty equal monthly
paysnentn.
PoattlTrlr No Marils Cnlla.
WI1X SHOW niO I-KOIITS
DIKINO IK!
Wolf Weekly Market Letter
Free on Hequeat.
H.&B.W0LF& COMPANY
20 BROAD STREET
NEW YORK .
TVs INVESTOR
TW INCOME TAX
63-Page Booklet
For Inventors and Traders
How to report
Stock swat! Cash Dividends,
Scrip Lssnad for Stock Divi
dends, Bonos Stock, Stock
Rights, Bond Interest, et.cv etc.
Includes typical broker's state
ment showing; sales to estab
lish losses, etc. Contains ruled
pages for investor's record.
Copy gratis if yon writ en vocr
business tr personal stationery.
L. A. Hughes & Co.
I n vest me nts
100 Broadway New Tork
t Stocks
To Buy for Profit
TPHE trader to make real
profit must buy stocks
when prices are low and
Sell when high, but a large
percentage always buy at
top prlcesand sell at ths 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 anrt Spe
cial Bulletin. "The Outlook
for lWL'a.' contain much vaiu
sble Information for trauera
Bend for them now.
Ask for PC-22. Copy free upon request
coogan a CO.
Investment Sscurities '
32 BROADWAY
New York
OVERBECK &
COOKE CO.
Brokers, Storfcn. HoncU, Cotton,
lirain, l.to.
tl-tl7 HOARD OF TRADE DU0,
HbIIpi Mnlln, mK '
Portland, Or.
1'cua Irion, Or.
MEMBERS CHICAGO BOARD OF
1RADK,
Correiipondrnte of Ioitimi Bryan.
CkkuMro and ISew York.
MKMRKRH
Jw Tork htork Kvrhanre.
rh.-..jro Stock F.srtiMnjce,
HoMon Htork Kxrtmnir).
I hi ro ro Hoard of TrH.I.
Nrw York Cotton Kirtmnr
New Orln Cotton KxrliMtirrw
New York lroluc HxrhMiigsa,
Wlnnlp (irwln I'll c liana
UveriNMii Cotton Aaaoclaiion.
PUTS and CALLS
- (Guaranteed)
"The Safest Wmj to Trade."
You t'nn't IMny the t.nme Krom the
nide Linen Now is the time to buy
30-day calla to participate in the vig
orous upward swing which the mar
ket should enjoy.
Remember, no margin calls or In
terest charges and no commission un
less closed at a profit.
Write for booklet "How to Trade
In Puts and Calls."
Prompt attention to mail orders.
WATSON & COMPANY
Inrntment ffecorltlea
023 fttork Kx chan ice llulldlne;
Loa Anne lea, Cal.
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 Trust
Desnaree Standard Forma Cap
proved by attorneys) furnish com
plete equipment with which any
one in any State can organize a
company, issue shares and begin
doing business ths same day. Ask
for circular A-42. containing full
descriptions.
C 8. DEMAREE,
I.eaal Blank Printer,
813 Walnut. Kansas City, Mo.
.Foreign Exchange
Foreign Municipal and Industrial Bonds
Foreign Estates and Collections
Foreign Drafts, Money Orders and Travelers' Checks
Foreign Cable Payments
Sale and Purchase of Foreign Currency and Moneys
Steamship Tickets and Transportation
Transatlantic Estate &
Credit Co., Inc.
102 Second Street.
Exchange Building, Second and Stark Sts.
Marshall 205
$50 4 FIRST PAYMENT
and only $10 per month paid on
that balanca will buy
10 SHARES OF ANY ONE
Pennsylvania
Carra De Psaeo
Alus-Chalmers
Pur. OH
American Can
Am. Beat Sugar
VIVC X, TO WW" 20 Broad St.
IV.mU CC V-U. Secumm New York
Safety and Profits
IK STOCK MARKET TRADING. Turn
HOW to combine thess In your tradlns
by th. uh of
Stock Privileges
With (10 to 123 you can trads in 100
ahsres of any stock. Vrlle for FREE
explanatory folder So. ttl.
PAUL KAYE, "JoTXA
HERRIN& RHODES, Inc.
Eatsbllahed 1S08
STOCKS, BONDS,
COTTON, GRAIN
Correspond-nti E. F HITTON A CO., N. T.
Member all Ifudlnr exchanges
Baboon 'a Prvire on Flit.
Bdwy. 42 7. V U1 KaUwu? .Cxchanv Bid.
Phone your want ls to The Ore
STonlan. Main 7070. Automatic 6SU-D5.