19 THE SUNDAY OREGOXIAX. PORTLAND, JUNE 4, 1923 EW HIGH LEVELS HI Industrials Soar and Special Holdings Follow Suit. DU PONT LEADS TRADING Stndebaker and General Motors Climb, Latter Establishing Maximum Record. . . Bliss Triumphs. S18563.10 cwt.: South Carolina oarrels, Irish cobblers, o. l. STATE'S BALANCE SHOWS DECLINE LIBERTIES HOLD STEMiE Washington General Fund May 31 Totals $2,09345.54. OliTMPIA. Wash.. June 3. (Special.) The balance in state funds in the hands of the state treasurer at the close ot busi ness May 31 was 1384,332. la less than at the close ot business April 30, according to the final May statement of C. . Bab cock, treasurer, transmitted to the state auditor today. The total cash balance May 81 was (10.640.3Ub.80, as compared with (11,024,723.95 on April 30. For the week ending- May 31 the cash balance was $137,453.83 less than at the close of business May 23. Receipts for the week totaled 18,04I,08, while war rants paid and checks drawn on suspense account totaled 1326,400.91. All funds show cash balances, there being no over drafts. The general fund total May 31 was 2,093,175.54. Coffee and Sugar Markets Closed. NEW YORK. June 8. Holiday in coffee and sugar markets. New York Bonds. Furnished by Herrin & Rhodes, Inc., of OTHER BONDS IRREGUIiAR IX NEW YORK MARKET. British and Tenclj Offerings Not Helped by Strength of Exchange. , BV MONITOR. (Copyright by the Public Ledger company. Published by arrangement.) NEW YORK, June 3. (Special.) New high levels for leading industrials again marked trading) In the stock market, with oil stocks, sugar stocks and specialties in the vanguard' of the movement. An en couraging sign in the market was the evi dence of strong underlying buying- power, which was indicated by ready switching from any of the leading stocks at the first sign of any selling pressure. There was little In the way of the day's news upon which to base any change in market sentiment. But at the same time the general tenor of news pertaining to trade conditions throughout the country was such as to encourage further accumu lation. Among the leaders in the industrial group was DuPont, which advanced 8',4 points on substantial support. Studeba ker and General Motors led the forward movement in the automotive group, the tatter establishing a new high at 15. How ever, this advance brought out consider able stock, and at the close a fractional loss had been encountered. s Martin Parry was prominent among the specialty stocks and topped its previous IMS high by selling at 3tS'i. The fact that many of the officials of Martin Parry are taking a leading part in the merger proceedings between Atlas Truck and bel den Truck is taken to indicate that the Martin Parry piant should receive a sub stantial volume of business from the new truck combine, even if it did not actually enter into the consolidation. General improvement In the agricultu ral fields is taken to mean that demand for fertilizer should show a correspond ing iriprovement. and this sentiment Is encouraging demand for fertilizer stocks, increasing the leading sulphur plants such as Freeport, Texas, and Texas Gulf, both of which entered new high ground for the year. . Attacks upon the new three-cornered steel merger have aroused some uncer tainty as to the status of Mldvale and Republic, and both of these issues were sold, closing well below the highs es tablished at the peak of the trading which followed the reports circulated in the market during the closing days of the merger i.tfcCotn.tions. Continental Can, which established a new high at 71. is being accumulated on the belief tuat the company's business at tue present tune Is snowing an improve ment oi about per cent over the same period a year ago. It Is assumed in the market that at the present rate ot busi ness earnings should run at the rate of 10 a share, or better on the common stock. Martin Parry is working into a position of prominence among tiie motor supply companies and esLauiished a new high level for the year today at utH4. Otli ciala of the Martin Parry company are prominent in the merging o the Atlas Truck corporation with the Selden Truck corporation and It is generally assumed that Martin Parry will receive a large volume of new business from the com bined truck - companies. In some - quar ters there is also a belief that Martin Perry is one ot the six; companies with which the organizers of the Allas-SeldeU combine are negotiating. Optimistic reports concerning new busi ness and the hope of a large volume will Increase prices for oil products forms the basis of the buying movement which has recently developed In Sinclair consoli dated. , Freeport Texas and Texas Gulf also es tablished new high levels for the year today and closed firm. Improved demand for sulphur for fertilizer is responsible for the accumulation of these issues. In ad dition to its sulphur properties Freeport Texas is also expecting a favorable showing from its oil properties. Published reports to the effect that Maxwell Motors earned the full year's dividend on the "A" stock during April and May alone have brought in consider able new support for the Maxwell issues. m Columbia Graphophone preferred touched 21. This move being a reflection of the strong position assumed by H. I.. "Wilson, president ot the company, who is firm in his belief that Columbia Graphophone may be expected to rhow very good improve ment. e , Burns Brothers' "H"' stock was one of the leaders among the specialties again to day and touched 50 for the closing at the high for a net gain of 2 points, while the 'A" stock closed one-half point higher. It is still generally believed that- Burns Brothers "B" stock should soon be placed on a $4 dividend basis, which would pre suppose a higher rate for the "A" stock Rail stocks are quieting down somewhat and made little response today to the ad vance story to the effect that wage cuts in volving about 1.000,000 workers In rail Toad circles, according to the brotherhoods, may be expected in the near future. t,ke Krie 8k Western, both common and preferred, were very strong and substan tially hifrher, but at the same time Nickel Plate, which Is controlled by the same in terests, declined 1' points. The basis for the Lake Erie & Western movement seem to be the general hope that the Van Swearingens will show the same success Portland: Railroad bonds Atch gen 5s 1(95 ACL 4s .1952 do 7s -1930 B O gold 4s MM do con iVia cv do ref ,V l'"3 Canada Southern im li- Canadian Nor SVts 1948 do 7s 10 Cent Pac 1st 4s 1949 Ches & Ohio cv 4A 1930 do gen 414s 1W2 do cv Ds .1946 do con 5s 19S9 C B ft Q 111 div 4s 149 C & West Ind 4a... 1932 C G ft W 4s ,..r 1! O M & St 'P 4s 1923 do cv 4Hb 1932 do deb 4s l'.KM do gen 4s A ...189 do cv 5s 2014 do g ft r 414s A 2014 Chgo X W gen 4s 1ST do 614b ,1936 do Is" 1880 C R I & P ref 4s 1934 Colo Sou rf ex 414s 193-5 do 4s K Del & Hudson cv 3s 195 do 7s 1930 D & R G cv 4s ......1938 do ref s .1955 Erie P L 4s.. r 193 Erie con 4s A'. 1958 do B 1153 do D ..1953 Erie Pa C G 4s 1901 Gt Nor 414s 19S1 Ot Trunk fts 13 do 7s 1840 III Cent Jt :s 1W3 do ref 4s 1955 K C Sou ref 5a 1950 Keo & Des M 1st Os 19L3 L S M S 4s ,..1931 L ft N 7s 1930 do unl 4 s 1940 M St P ft S S M 814s 1848 M K ft T 4s 1990 M P gen 4s 1975 do ref 5s do . ...1928 88 88 10? 80 Slfc 86 97 11114 113 8814 88 8714 93 V. 101 9014 73 6114 8014 70 63 7514 75 14 64 85 109 109 8014 8714 3 9714 109 77 49 6414 5214 50 53 89 91 14 10314 112 94 8T 90 9214 JO? 90 10214 SO 64 100 NYC deb 4s. do con 4s do ref imp 414s. . . . do cv deb 6s do coll 7s N Y N H ft H cv 6s. N O Tea ft Mex 5s. . N P P L 4s N P 6s N P Gt Nor jt 814s.. Penna 6 lbs do gen 4!s do 414s do gen 5a.... do 7s Penna R R 614s Reading gen 4s S A L 4s . .... 5s 1934 1998 .....2013 .....1035 1930 1948 1935 1997 2047 1938 1936 1965 1960 1968 1930 1936 1997 8514 3950 58 11149 1945 1994 1929 1955 1950 1949 1934 1950 1931 1950 1931 do 0s A t Sou Ry con 5s So Pac cv 4s do ref 4s do sf term 4s do ref 4a. . , do conv 53 St L ft S F P L 4s A.. dos gen 5s do 5s B do gen 6s do adj 6s do inc 6s St L ft S W 1st 5s do con 4s. do 1st 4s . Tex Pac 1st 5s Un Pac 1st 4s do cv 4s do ref 4s do Os Un Tank 7s Wabash 1st 3s do 2d 5s West Pac 5s Industrials Amn Agr Ch. 714s 1941 Amn Sm 1st 5s 1947 Am Tob 7s 1923 A rmour 4 14 s . . . . , Beth Steel 7s do ref 5s Cerro de Pasco 8s Chile conv 6a A... do conv 7s Col Graph 8s Conner Exp 8s Colo F ft 1 gen 5s Colo Ind 5s Cuban Amn Sug 8s 1U31 Cuban Cane cv 7s 1930 Distillers' Sec cv 5s 1927 Diamond Match 714s 1935 Dupont 1 14s 1931 Empire Gas Fuel 6s... Flsk 8s Gen Eiec deb 5s Gen Elec deb 6s Goodrich 7s Goodyear 8s Heinz 7s Hershey 714s Ill Steel deb 414s Ind Steel 5s Int Agr 5s I... Int Marine CT 6s Kelly Spgfld 8s Kennecott 7s . . Lack Steel 5s do 1st 5s Liggett ft Meyers 5s .. do 7s Lorillard 5s do 7s Midvale 5s Morris & Co 714s ..... Proctor & Gamble 7s.. Republic I & St 5s.... Sears Roe 7s Steel ft Tube 7s Swift ft Co. 7s Swift & Co. 7s United Drug 8s U S Rub 1st ref 5s.... U S Rub 714s U S Steel sf 5s . . Va Chem 5s Va Car Chem 7Va West Elec 5s West U T col Tr 6s... West Union 614s Wilson 1st 6s Wilson cv 8s.... West Elec 7s Westlnghouse 7s Public Utilities Am Lt ft Tran tie Am Tel coll 4s Am Tel coll 5s Bell Tel of Pa 7s B R T Ts Cal Gas uni 5s. 89 82 SO '4 113 '4 105 82 8614 105 105 109 91 y4 9614 9914 109 109 2 57 9514 9014 87 82 87 103 71 98 NEW YORK, June . Realizing Inci dental to the week end occasioned further hesitation in prices of leading bond is sues today, most of the liberties holding at yesterdays levels. international loans were mixed. Republic of Cuba rising 2 points, while Cuba Rail road 5s eased, with additional reversals in Mexican governments. British and French offerings were not benefited by the strength of exchange United Kingdoms of 193T easing a trac tion. New York Central 8s, Reading general 4s Norfolk ft Western convertible 6s and . -.uash first 5s showed firmness, while recession among junior mortgage issues of several of the western and southwest ern rails held within fractional limits. Total sales, par value, aggregated 36.943,000. The coming week Is expected to bring out many new domestic and foreign un derwritings, the latter probably including another Brazilian loan. The week-end session of the Stock ex change opened with- another bullish demonstration in the oil division, ben the market tone soon became Irregular on mixed purchases and sales of those Issues. Spectacular features "of the previous day, especially California Petroleum, Pacific Oil and several of the Standard Oil group, reacted 1 to 3 points, while Mexican Petro leum, Royal Dutch, Shell and Houston, Cosdea and Marland Oils gained 1 to 4 points. Similar confusion of movements occurred among the steels, equipments, motors and other leaders of the industrial division. United States Slee! failed by the smallest fraction to duplicate its recent maximum, but Crucible, Mldvale and Republic, espe cially the latter, were under constant pressure. Studebaker again led the motors and many of the subsidiaries of that type strengthened as a result of favorable trade conditions. Among unclassified Issues, Du Pont was conspicuous for its further rise of 8 points, or a total of almost .25 points for the week. Rails moved in desultory fashion, the only noteworthy movements being re stricted to junior or low-priced shares, such as Lake Erie common and preferred, and Wheeling ft Lake Erie, common and preferred. Sales amounted to 800,000 shares. Despite the less assuring cables from abroad, foreign exchanges were firm to strong, sterling making yet another new high on the sale of demand bills at $4.48. German marks were the only remittance to ease, falling 1-irom their best quotation ot the mid-week. : Loans and discounts of clearing house banks showed another actual expansion of about $47,000,000. and the actual cash gain of $8,000,000 increased excess reserves to slightly over $26,600,000, as against the $5,000,000 of the previous fortnight. CLOSING STOCK QUOTATIONS. Furnished by the Overbeck ft Cooks Company of Portland: Stock Sales. High. Agr Chem ... 400 Ajaz Rubber . 100 Alaska Gold .' 100 100 1,000 100 100 100 mo 6,800 400 600 Nova S Steel. Air Brk. .. Central . . Prof ref. Ontario Silver Ontario ft W. Otis Steel "Pacific Dev. .. I'ac G ft Elec. Punta Allegre Pacific Oil . ... Pan Am Pet.. do "B" Penna ....... Peo Gas Pere Marquet. Pure Oil Phillips Pete. Pierce Arrow. Pierce Oil Pitts Coal Pitts ft W Va. Prsd Steel Car Pullman Kay Cons. .... P.eading ..... Remington . . J fveplogle steel 200 8,100 900 ' 200 300 400 300 2,000 16,200 9,800 500 1.100 2,600 600 8.100 600 900 3.100 2,900 1.100 '"soo 900 1,300 100 800 Republic I ft S 9,600 do pfd Rep Motors. . . Kyi Dutch Oil Rv Stl Sorina. scan un Ken Sears Roebuck 1,000" Shell T ft T... 3,100 Sinclair 17,600 Stand Oil Ind. N. . . : Stand Oil N J 300 Sloes Sher ... Sou Pacific ... Sou Ry Stand Oil Cal StLASF... Stromb Carb.. Studebaker ... Swift ft Co Ten C ft Ch.. Texas Oil Texas Pac . . . Tex Pac C ft O 00 3,100 5.600 500 1,400 300 2,900 300 90 4 8H 26 14 9 72 49 68 , 73 66 42 85 34 34 64 20 10 65 37 122 18 76 34 35 77 95 14 67 105 79 45 37 119 194 50 90 24 118 28 90 3 8 28 14 9 72 48 68 71 65 41 84 33 34 54 19 10 65 38 joo" " 18 75 34 34 '75 84 13 . 65 ioi 78 44 87 116 193 49 90 24 116 29 35 78 90 3 25 14 48 66 71 65 41 85 33 34 54 19 10 65 30 78 joo 76 "34 35 75 94 13 65 103 104 78 44 87 117 193 8,600 125 124 200 14,200 300 8.100 12 60 33 32 81 19 25 139 39 78 9 141 12 49 32 32 80 18 24 138 39 78 , 8 141 d nfd Vana Steel . . Vivandou .... Wabash .'. . do A pfd ... do B pfd -. . . Wells Fargo . Western Pac. . do pfd Western Union Westingh A B do E & M.. West Md White Motors. Willys-Overlf. do pfd Wilson Pack.. Wis Central.. Woolworth Worth Pump. W ft L E White Oil .... 65 67 64 "iiii 102 33 71 50 12 12 31 w 78 21 61 98 94 62 12 50 90 24 117 28 54 125 103 12 50 32 32 - 80 18 24 138 39 . 78 8 148 65 . 57 64 104 44 302 Tob Products. ,4,900- Tran Con Oil. 800 Union Oil Del. 5,100 Union Pac .... 200 United Alloy.. SOO United Drug.. 100 Uni Food Prod 1,100 United Fruit.. 200 Union B ft P Unl Ret Stores 6,800 67 U S Ind Alco 300 58 U 8 Rub 1.200 65 do 1st nfd V S Smelting.. 100 44 u s steel 13.600 102 do nfd .. Ilfty, Utah Coper.. 700 68 68 68 va cnem -500 33 400 71 200 60 . 700 12 1,200 13 300 32 200 22 200 78 700 21 200 61 100 98 100 94 600 62 300 1214 1.600 51 3.600 9 900 45 44 300 48 46 ' 100 80 80 200 1 80 160 300 64 64 6,800 15 14 900 10 10 105 9014 94 93 7 76 86 , 98 99 100 ...1931 - 98 1927 99 1951 53 1941 104 1945 110 .1945 1917 1920 1981 1941 1945 E rail I 8s .....j., 1941 British 6S 1922 do 1927 do 1929 do vky 4s do ref 4s 9 I Canadian 6s 72 I do 1926 ao os do 5s .... do 6s .. Chinese 5s . , Chilean 8s .. Denmark 8a Dan Muni 8s..... French 4a ...... do 5s ......... do do 7 do 8s German W I 5s. . Berlin 4s Hamburg 4s . . . . do 4ls8 ....... Lelpsig 414s do 5S Munich 4s do 5s Frankfort 4s .... Italian 5s Jap 4s do 1st ei4s .... do 2d 4s Norway 8s ...... Russian 6s. do do 6s Swiss 5s do 8s Ran Paulo 8s . . . U K 6s 1922 do .7. 1929 do ..1937 Swedish 6 1939 1918 1931 1925 1925 1940 ...4.1921 1928 1919 1929 1940 110 &7 82 69 102 104 2 2 1 3 3 3 f 3 3 3 4 41 77 90 89 110 18 . 4 19 101 117 103 108 108 102 102 105 93 98 96 82 79 87 . 99 99 101 98 100 54 105 -Ill 111 68 84 ' 70 102 104 . 3 3 3 4 . 4 4 4 ' 4 42 . 77 91 90 . Ill 21 5 . 22 101 118 104 108 108 102 102 Standard Oil Stocks. Standard Oil quotations furnished b Cheesebrough . do pfd .... Eureka ....... Galena com . . . Galena Old pfd Galena New pfd Illinois Pipe ... Indiana Pipe .. 103 1955 - 79 I960 68 . .195 ..1932 ..1989 . .2000 . . 1947 . .1927 . . 2008 ..1928 ..1930 -.1939 . .1939 ..1948 . 1939 . . .19 J3 . . .1942 ...1931 . . . 1932 ...1923 ...1925 . . . 1923 . . . 1943 .1934 1924 1941 . 1952 1940 1925 . 1941 1930 1930 1940 1952 1932 1941 1931 1930 1923 1950 1951 1944 1951 .....1944 1936 1930 1923 1940 1922 1951 1925 1931 1941 1947 1930 .. ...1963 1923 1932 1922 1938 1936 .....1941 1928 1925 1931 vith their newest property as they have Cities Service 7s B.... with the Nickel Plate. Recent accumulation of Rutland pre ferred has been furthered by the expecta tion In speculative and railroad circles that Rutland may soon be taken In by one of the great railroad systema Natur ally, New York Central, which has an in terest in the road now, is favored in the gossip, BANK CLEARINGS SHOW INCREASES May Shows tialn Over Same Month of 19'!t In Taeoma Business. TACOMA, Wash., June S. (Special.) The month of May closed showing an in crease of Tacoma bank clearings over the same month for 1921, being the first month this year to show such increase. The clearings for the -nonlh were $85, 271.000 against $02,700,417 for the same month of the previous year B4nk clear ings for the first five months of the present year were $310,471,000 against $325.415.9lt for the same period of 1921. Building permits issued in Tacoma dur ing the month of May represented nron- erty valued at more than three-quarters of a million dollars The exact value given was $777,533. In the 377 permits Issued during the month 76 were for residences valued at .'U3. i iw. May's figures show a large Increase over those of April, when 435 permits were issued lor properly valued at $373,836. Residence permits numbered 73 in April, with an approximate valuation of $200.00o! Copper Market Firm. NEW YORK, June 3. The copper mar- nas oeen nrm during the past week. u anything, business has been a little less active but the market Is showing the effect of the large sates reported dur ing May and quotations for electrolytic this morning ranged from !8c to 14c delivered wtih some sellers offering noth ing below the 14j mark. Iron was firm. 1925 1929 1946 1945 1945 ...1937 . . .lasts ...19H8 ...196 ...1925 ...3 956 . . .1966 ...1930 ...1943 ...1941 ...1937 ...1942 ...1925 Chicago Potato Market, CHICAGO. June 3. Potatoes strong: re teipts 32 csrs. to'al I'nited States ship ments, 553; Wisconsin sacked round whites. $1,5031.65 cwt.; Michigan sacked and bulk round whites, $1.55ij't.70 cwt.; Idaho sacked russets, $25 2.20 cwt.; new stock sirong; Alsbsma sacked Bliss Triumphs. No. 1, $3 315 cwt.; Louisiana sacked City Service 7s C. City service is u Con Gas cv 7s Int Met -.s Int R T. ref 5s Laclede Gas 7s Mont Power 5s A .. Northwest Tel 7s Pac Tel os Pac Gas 5s Southwest Tel 7s Oil Bonds Atlantic ref 6s 1931 Pan Am 7s 1930 Mex Pet cv 8s , 19:i Sinclair 7s , 1925 S O Cal 7s 1931 S O New York 7s 1931 Texas Co. 7s 1923 Tidewater Oil 6s 1931 Vacuum Oil 7a 1936 Foreign government bonds Argentine 2d 7s 1923 Argentine GI 5e ...,1945 Belgium 8s 1940 Bergen 8a 1945 Berne 8s 1945 Christiania 8s 1945 Copenhagen 5s 1944 Danish Consol 8s 1943 French Cities 6a 1934 Italy 6s A 1925 Rus Ruble 5a 1928 Swedish Govt Us 1939 V S Mex 4s 1054 U 8 Mex ext 5s I94J Uruguay Ext 5s Zurich 8 1943 French Internal 4s 3917 French Victory 5s 1920 Belgian Restoration 6s British 2 consols Ital. Cons. War Loan 5 Curb bonds Allied Packers 8s Am Tel & Tel 6s 1922 Am Tel ft Tel 6s 1924 Anaconda Copper 6s ...... .Anaconda Copper 7s Anglo-Am Oil 7s Armour ft Co. 7s Beth Steel 7s 1935 Copper Ex Assn 8s. .......... ..1924 Copper Ex Assn 8s .....1925 Galena Signal Oil 7s Grand Trunk 6 Gulf Oil Co 7s Humble Oil 7s Inter Rapid Tran 7s .......... Libby MrS ft Lib 7s Sears R.e 7s S-yr 1923 So West Tel 7a Stand Oil N Y 6s 1933 Stand Oil N Y 7s 1926 Swift Co 7s ................1925 Swift ft Co 7s 1931 Texas Co 7s Notes Vacuum, oil Ts 80 75 78 95 01 94 85 103 102 m 86 87 103 92 102 89 104 95 422 91 107 45 102 90 77 106 83 47 107 107 100 107 102 105 99 115 104 103 90 99 80 97 108 105 99 90 97 113 96 113 91 105 101 95 100 101 101 102 111 89 108 101 300 305 300 99 109 97 93 107 106 106 90 97 107 . 03 9 134 95 91 116 13 68 100 96 106 94 91 102 103 102 107 104 106 109 K'1 192 107 99 85 107 110 312 110 91 110 104 86 4 ' 102 52 65 73 11- 57 71 76 53 42 83 100 101 100 103 103 104 302 102 104 103 105 104 103 97 99 101 102 106 103 101 101 106i, Alaska Juneau Allied Chem . All is-Chalmers do-pfd Am Beet Sug. , Am Bosch . . . Am Can Co . . . Am Car ft Fdy Am Cot Oil . . do pfd Am Drug Syn.. Am Hide ft L. do pfd Am Ice An. Intl Corp Am Linseed . Am I.oco ...... do pfd Am Saf Kaz. Am Ship .'" C. Am Smelter. 40 pfd ....... Am Snuff ... Am Steel Fdy Am Sugar ... do pfd Am Sumatra.. Am Tel ft Tel Am Tobacco . do "B" Am Wool .... A . W P pfd. Am Zinc Anaconda .... Assd Oil Atchison do pfd Atlan Coast L Atl G ft W I Baldwin Loco. do pfd Balti ft Ohio. 42 17 1 70 47 46 51 167 30 Low. 42 17 1 69 49 Close. 42 17 H 1 69 49 47 45 50 166 30 40 45 61 168 . 29 100 72 72 400 108 108 1,800 50 49 400 39 39 . 300 116 115 "(SOO "7 "6 4,700 23 23 400 65 65 4.100 38' 'as 1,200 81 0 " 100 42 '42" 1,200 123 123 100 143 143 600 140 140 400 93 93 2,800. 300 400 "400 2,600 6,700 100 4,300 do pfd WO 100 1,400 600 800 600 3,000 200 100 6,800 Barnsdell Corp Beth Stl "B". Booth Fish .. B R T Butts C ft Z. Bums Bros . , Caddo Oil ... Calif - -eking. Calif - at do pfd Canadian Pac Gen Leather . Cerro de Pasco Ch idler Mtr. Chgo ft N W. Chgo Gt W.. do pro Chill Cop ... Chino C M St r... do pfd Coco Cola... C ft O ..... Colo F ft I... Colo Southern Col G 4 E. ... Col Graph... Con Gas Cons Cigars.. do ptd Contl (lan... 4,800 Cities Bankers Corn Prod. . . 1,700 do pfd Cosden Oil... 11,800 C K I ft P. . 600 do A pra.i do B ptd.. . Crucible ..... do pfd .... Cuba Cane... do pfd .... C Am Sugar: Del & Hudson Dome Mines. Del ft Lack.. Pav Chem... End Johnson. Erie do 1st pfd.., Elec St Bty.. Fam Players. Fed M ft S 100 1,601 100 2,200 500 400 1,400 800 400 200 400 2,400 300 " ibb 300 21,800 300 100 300 2,100 "600 1,600 6,700 "266 100 ' "200 200 300 5,100 1,500 56 126 99 105 41 117 111 60 . 61 47 78 7 '27 32 139 13 78 .69 138 41 39 77 75 9 22 23 33 . 27 42 69 66 ' 49 88 5 117 32 ii" 102 '49" 44 '84 17 37 27 '9 124 "84' 16 26 40 86 58 124 9 ios" 40 115 111 50 61 47 78 7 27 32 138 13 78 67 i38 41 38 76 75 9 21 22 33 27 42 68 66 49 87 5 116 32 '69 102 47 44 84" 75 '17 36 26 -29" 124 '84 16 25 45 85 32 70 49 12 12 31 22 78r 21 61 97 94 62 12 50 9 45 46 29 160 54 15 10 Liberty Bond Quotations. Liberty bond and victory note quota tions furnished by the Overbeck ft Cooks company, Portland: Open. High. Liberty 3s 99.96 100.00 LlDeny. 1st 4s Liberty 2d 4s... 99.80 99.80 99 80 Liberty 1st 4s 99.92 99.98 99.92 Liberty 2d 4s. 99.92 99.86 99.92 Liberty 3d 4 s. . 99.90 99.96 99.90 ljioerty 4tn 4s 99.94 99.98 99.94 99.96 Victory 4s 100.60 100.1H) 100.58 100.58 Victory 3s 99.98 Money, Silver, Etc. NEW YORK, June 3. Foreign bar silver 71 14 c. Mexican dollars, 64c. Ohio Oil .... Inter'l Pete Penn Mex . . Prairie Oil . Prairie Pipe Southern Pipe . South Penn Oil S. W. Penn Oil S. O. Ind S. O. N. Y S. O. Ohio do pfd Swan ft Finch Vacuum Washington s. Ch Nebraska Imperial OU Bid. Asked. .. 24 24 ..395 405 .. 96 97 ..195 205 ..110 112 ..144 147 35 - 37 ..135 145 95 98 .. 67 59 ..107 110 ..100 104 ..176 180 ..96 98 .. 29 30 ..175, ISO ..107 109 ..308 312 ' .. 26 26H .. 38 42 ..635 645 ..258 202 ..360 870 .. 97 99 . ..238 242 .. 68 65 ..119 '119 ..560 670 ..104 104 .437 440 ..460 475 ..II 118 .. 30 . 33 ..448 450 .. 20 30 ..185 103 ..122 124 Low. Close. 99.96 99.86 99.80 99.98 99.94 99.92 June 3. Bar sliver, 35d 15 72 108 49 39 115 115 28 65 98 134 38 80 108 42 123 142 140 93 33 19 66 425 99 91 105 40 116 111 50 61 47 78 7 27 32 138 13 78 ' 68 97 138 40 . 39 76 75 9 22 22 33 27 42 68 66 34 40 88 5 116 .32 65 70 23 102 114 48 44 98 84 74 94 17 36 26 120 29 124 59 83 10 23 45 85 10 do pfd i-- 50 Flsk Tire . . . 200 Gaston Wms Gen cigars Gen Elec Gen Motor... do 6 Gen Asphalt. Goodrich .... Granby Gt No Ore... do pfd Greene Can.; Gulf S Steel.. Glen Alden... Houston Oil. . Hupp Motor.. Ills Cent Inspiration . . Int Agr Corp do pfd Interboro . . . do pfd Int Callahan. Inf Harv ... do pfd .... Int Merc Mar do pfd v Int Nickel ... Int Paper... do pfd .... Invincible Oil Island Oil Jewel Tea K C So 800 200 900 7,900 200 200 800 2,000 200 200 100 3.008 2O0 200 300 "ioo 200 900 1,400 200 1.000 700 500 900 Y.ioo 1.500 17 78 167 15 '87 43 . 34 42 77 34 84 55 85 21 107 44 "ii" 4 10 105 "ji" 85 18 53 "is 1 17 '77 167 14 '65 43 32 41 76 84 84 55 83 20 106 44 'ii" 1 4 10 105 '24 84 17 62 'l8 1 17 . LONDON, per ource. Money. 2 per cent ' Discount . rates, short bills, 2 8-18 per cent; three-months' bills,- 22 7-16 per cent. . Swift Co. Stocks. Closing prices of Swift A Co. stocks at Chicago were reported by the Overbeck ft Cooke company of Portland aa follows: Swift ft Co. 103 National Leather 2 do new 8 Swift International .- 20 Libby, McNeil ft Libby 2ft CONFUSING WEEK IN STOCK MARKET Wage .Reduction, Supreme Court Decisions and Firmer Money Have Effect. rt si w iurk, June 3. Regardless of tne tact that quoted values in a majority of instances registered substantial gains, with a number of new high records among speculative favorites for one to two years. tne week on the stock exchange was ..,a.iacu uf mucn coniusion and irregu larity. Circumstances which entered largely "llu tle cumncting movements bf prices included the cut in railwav lhft decisions of the United States supreme court affecting the shares of the R.in, and Southern Pacific roads and the firmer money tendencies. Traders evidently took little comfort irom tne action or the United States rail road labor board and the rulings of the supreme court were followed by offerings of transportation stocks which resulted mainly in moderate depression of those issues. Higher money quotations were 11 the nat ural sequence of the calline nf hMb.' loans to meet June requirements, but the lais-er ttio UI reserves neia Dv the fed eral reserve bank pointed to early relaxa tion ot local monetary conditions. speculative interest was sustained by inc .iwLuer rise in values ot such com modities as oils, metals and suaars. to gether with the greater activity reported in the motor and equipment business. Re cent gains in general business were main tained, trade authorities reporting further recovery from the depression of the first quarter .of the year. Labor disturbances In the coal and textile fields were less acute and the buying power at agricul tural centers showed marked increase. Little public interest attached to the merger of tobacco Interests and the nrn- posed consolidation of the Midvale-Repub- iic-inianu steei companies was calmly re ceived. Strength of United States Steel coincided with public statements bv Chair man Gary, which drew attention to the corporation s remarKaDie financial and technical position. International aspects of the financial situation were featured by the advance of British exchange, which amounted to maximum quotations for the last three years. The advance was associated with the German moratorium, although it was generally understood that this concession would lapse should Germany fall to meet the terms imposed by the reparations commission. Latest advices from Paris intimated that the bankers' committee was less comment 01 a satisfactory solution 01 tne prooiem in nana. Mining Stocks at Boston. Foreign Exchange, - NEW YORK,, June 3. Foreign exchange steady. Great Britain, demand. $4.47; cables, $4.48: 10-day bills on oanas, f4.45. France, demand, 9.12ci cables, 9.1214c. Italv. demand, 5.21c; cables, 5.21c, Belgium, demand, B.dc;. caDies, 8.43c. Germany, demand, aoiic; caoies, :6c. Holland, demand. 3S.9VC; caoies, 38.95c. Norway, demand, 17.8ic. Swelen, demand. 25.95c. Denmark, demana, i.oac. Switzerland, demand. 19.12c- Spain, de mand, 15.80c Greece, demand, 4.22c. Po- It.nd, demand, .02 c. Czecho-siovaKta. ae- rcand, 1.95c Argentine, demand. 36.50c. Brazil, demand, 13.87c. Montreal, 99 1-18C Excess Reserves Increased. NTCW YORK. June 3. The actual con dition of the clearing bouse banks and trust companies for the week snows mat they hold $26,641,170 in excess of legal requirements. This is an increase ot o, 017,730 from last week. IJVESTOCK MARKET CLOSES STEADY, Twelve Loads ot Hogs Beach Local Yards for Packers. Twelve loads of stock, mostly hogs. reached the local yards yesterday. Eleven loads of hogs were shipped direct to a packer and the remainder came under con tract. There was but little stock available for the open market and the only sales re ported were a few head of lambs and ewes at going prices. The tone of the market was Bteady in all lines at tne close. Prices quoted at the Portland union stockyards were as follows: CHlk. Prices. Choice steers $ 8.50 9.00 Good to medium steers....,..- 8.00(0 8.50 Fair to medium steers 7.00 8.00 Common to fair steers 6.50 7.00 Choice feeders 5.25 6.25 Fair to good feeders 4.75 5.25 Choice cows and heifers 6.50 7.00 Medium to good cows, heifers. 5.00 6.00 Fair to medium cows, heifers. 4.75 5.50 Common cows i 3.75 4.75 Canners ..." 1 2.00"3.75 Bulls 3.75 5.25 Choice dairy calves.... 8.25 8.50 prime lignt caives o.ooiy o.ov Medium lierht calves 7.00 8.00 Heavy calves 4.50 7.00 Hogs Prime lieht 11.5011.65 Smooth heavy, 200 to 300 lbs. 10.5011.00 Smooth heavy, 300 lbs. up.... lu.uuigiiu.ou Ronph ha.vv 7.50 9.50 Fat pigs 11.2511.50 Feeder pigs 1125 11.50 Stags, suDjecc to aocaagev... o.vu-jp i.uv Best spring lambs 10.0011.00 Medium- spring lamDs Common spring lambe Cu'.i iambs Furnished by Overbeck ft Cooke Co. of Portland: Bid. Asked. ?u , Arizona commercial 10 10 166 numuro 00 4K4(Ahmeek 65 Algomah 20 65Aiiouez zg Kelly-Spfld .. 800 51 51 Kennecott ... 200 39 38 Keystone Tire 900 21 21 Lack Steel ... 200 77 78 Lee Tire 200 33 33 Lehigh Valley 800 65 65 Lorillard 200 157 157 Lcwe Theaters 200 16 18 I ft N Marland Oil.. 8,900 43 39 Martin A B... 7,300 36 35 May Stores... Mex Pet 1,900 142 141 Miami 200 31 30 Mid States Oil 4,900 15 15 Midvale Steel. 900 39 38 M K ft T W L 200 18 18 do pfd Wl.. 200 l 41 Mont Power.. Mont Ward... 300 23 24 Mo Pac 200 , 25 23 do pfd 100 37 67 M StP ft SS M Nor Amn 1,400 67 66 Nat Biscuit... 200 148 147 Nat Enamel.. 1,500 55 64 Nat Lead 290 95 94 Nevada Con.. 1,500 18 19 New Haven... 900 22 32 Norfolk ft W. 100 107 107 Nor" Fae. ....... 200 76. 76ii 43 32 41 76 34 83 04 83 20 106 41 1 4 10 105 112 24 84 18 52 85 18 1 21 28 67 51 38 21 76 33 65 137 16 118 41 35 118 141 30 15 ' 38 18 40 71 23 23 37 39 67 147 33 94 19 82 107 76 68 50 28 15 04 290 20 H 48 Arcadian 4 Bingham Mines 15 Calumet ft Arizona 63 Calumet ft Hecla 288 New Cornelia 19 Centennial - 11 Copper Range 45 Davis Llaly 8 9 Daly West 2. 3 East Butte 1114 1 1 &4 Franklin Mining 2 2 Hancock 3 314 Helvetia 1 1 istana ureea ..j.........ii3 113 n.eewenan ' z 3 Kerr Lake 8 4 Lake Copper 4 5. La Salle 1 1 Michigan ' 2 ; 3 Mohawk 86 67 May Old Colony 6 6 Mason Valley 2 2 Noath Butte 14 14 Nipisslng 6 6 conn IjH Ke du . on Old Dominion Copper ........ 27 27 Osceola Mining 36 37 Obijawa 3 3. Quincy Mining ............... 49 49 Isle Royale 25 26 South Lake . 47 - 47 Sup Boston 1 1 United Shoe Machinery 40 40 do pfd 26 27 South Utah 6 . 10 Superior Copper 4 4 Trinity Copper 1 1 Tuolumne 75, 80 Utah Metals 1- 1 Utah Consolidated 3 3 U S Mining 44 44 do pfd 47 47 Utah Apex 3 3 Ventura 83 33 Victoria 1 2 Winona 1 2 Wolverine .15 16 Wyandotte 50 75 Foreign Bonds. Furnished by the Overbeck ft Cooke com pany of Portland. July Wheat Closes at Small Dis count Under September In ' Chicago Market, CHICAGO, June 3. Liquidation was en wheat during the short session of the board of trade- today ana. with stop-loss orders caught in profusion, values dropped a new low on the sresent downturn. At ther finish prices showed a net decline oi lc to 3c, with July $1.14 to L15 and September $1.15 to $1.15. Corn was off c to lc. oats c to o lower. wane provisions ranged from 60 lower on lard to 5 10c advance on riba. A week ago July wheat closed about c over September and today sold at a small discount.. Local sentiment was de cidedly bearish and the best eunoort on tne way down came from shorts who were evening up for the week. Outside inter est was lisTht.- There waa nothing in the character ot the crop news to cause the bears any uneasiness. Export demand as reported as slow and no material bus:ness is expected until after Monday. oreign markets were closed today and ill no: reopen until Tuesday. Reports cf red rust In Kansas failed to attract at tention today. ... Trade in corn and oats was almost en tirely ot a local character and both grains ranged lower in sympathy with wheat. Provisions were dull and about steady, 1th a light local trade. - The Chicago grain letter received yes terday by the" Overbeck ft Cooke company of Portland follows: Wheat Heavy selllna was indulged In all day by houses usually active for lead ing interests who accepted delivery oi cash grain on May contracts.. There was no news of Importance in circulation to account for tho extremely bearish feel ing, except that crop reports were gen erally favorable and the export demand stagnant. The latter was attributed to the holiday abroad. There was very little neat on tho local market and spot pre miums were again higher. Minneapolis reported a good demand and an improve ment in flour trade. Charters were made here today for 415,000 bushels of wheat; 300,000 new wheat waa reported bought to. arrive from Illinois and Iowa points today for August shipment. The course of prices for the immediate future will undoubtedly be governed by crop condi tions ana tne cash situation. corn uutside trade was limited and prices declined on scattered liquidation Induced by the weakness In wheat. Spot prices were lower with the futures, but he trading basis was firm with tha de mand fully equal to the supply. Country oiierings to arrive moderate. Crop re ports were mixed, reports of poor germi nation coming from many sections. We still feel that there Is excellent founda tion for a strong market toward the end of thir, month, . ' , Oats Continued selling credit in lead ing elevator interests resulted in a lower market. Seaboard interests were buyers on the decline and it waa believed some export business was being done. The cash mantel naa a nrm tone. aye LlQUldatfon in thia mnrlial waa quite heavy rnd support Inadequate. There waa some selling, thoueht to be for fnreisrn accounts. Cash rye was steady at cent uuuer uuiy Did. tor No. 2. Leading futures ranged as follows - WHEAT. Open. High. SI. 18 1.17 1.19 CORN. .61 .62 OATS. .38 .40 LARD. 11.40 11.67 Light yearlings Heavy yearlings Light wethers .. Heavy wethers . Ewes Belgian rest 5s do prem 6s........... ... do 7a 1945 . do 8s 1941 do 6s ...w....U25 Bid. 71 7S -109 107 103 Ask. 74 7 109 10S 1024 9.00 8 10.00 7.00 8.00 6.00 7.00 8.00 9.00 7.00 8.00 7.00 8.00 6.00 7.00 2.00 6.00 Chicago Livestock Market. - CHICAGO, June 3. (U. S. Bureau of Markets.) Cattle 1000, compared week ago, beef steers strong to 10c higher; top heavy steers, $9.20. weeas nuix prices, hef nteera. S8.108.75: stockers, $6.7o TB5- meatv Wisconsin feeders, $8.208.80 butcher she stock, $5.507.25; canners and cutters, $3.254.35; veal calves, f.(0 10.25. Ttne-s 5500. mostly steady to 10c lower ton. S10.75: early out of line, $10.70: prac tical top bulk, $10.5010.60; packing sows 15 to 25c lower; pigs steaay. Heavy weignt, $10 2610.45; medium, $10.4010.60; light, r. nk, n.ht i o 's 1R1 1 o fin- sau.ouib' iw.wi , neu. i.e.... -w packing sows, smootn, .uii?w.v, pack ing sows, rough. $8.90 8.95; killing pig: $9.2510.3O. Sheen taOO. maraet nominal;- wees. bulk prices, desirable spring latnbs $13.60 15; shorn lamos, Sll.ooigtio; yearlings, $8 10.25; wethers, $78; ewes. $37 new crop feeder lambs, $11.4011.75. Kansas City Livestock Market. . KANSAS CITY. Mo., June 3. (U. S. Bu reau of Markets.) Cattle 200; for week. heef steers strong to 25o higher; top $9.0o fat she stock, steady to weak; cutters and bulls weak; canners, stock cows ana neif ers. weak to 25c lower; ail caives strong, Hogs 1200, 200 sorted 195-pounders to shippers. $10.50; packers bought bulk good and choice 1 tll-.w-pounaere iu,ou3'to.v strong to 6c higher; ouik, siu.zo iu.40 Tiles, steady: odd bunches, $10.2510.40. Sheep None; for week, 25 to 50c lower shorn lambs. 15 to 25c lower; top, $12.90 spring lambs, 75c to $1 lower; top natives, $14.85. . ' San Francisco" Livestock Market. SAN FRANCISCO. June 3. Steers No. 1. $6.757.2S; cows ana neuers, no. S4.75lfi5.25. Sheep wethers, $6.507; lambs, $9.50 10.60: ewes. $3 4. Hogs 125 to 200 pounds, $12.50; 200 to 250 pounds, $11.50; 250 to 300 pounds. $10.50. , Seattle Livestock Market. SEATTLE, June 3. Cattle and hogs ateany, prices wKauuini, uu 1 lo. QUOTATIONS ON. DAIRY PRODUCE Current Market Baling on Butter, Cheese and Eggs. SAN FRANCISCO, June 3. Dairy pro duce exchange closed. fTEW YORK, June 3. Butter, firm. Eggs Irregular. ' Cheese Steady. Live and dressed poultry quiet; . un- ehaneed. All commodities practically unchanged. CHICAGO, June 3. Butter, higher; re ceipts 21,731 tubs; creamery, extras, 35c firsts, 31634c; seconds, 26 30c; stan dards, 85c. Ekes Steady.! receipts 23,121 cases first.. 2323c: ordinary firsts 21 miscellaneous, 22 22c; storage, packed extras, 25c; storage pacaea iirsts, 24 c. KANSAS CITY, Mo., June 3. Eggs and hotter unchanged. - poultry, hens, lc lower, 21c; broilers lc lower, 35c; roosters, 12c SEATTLE, June 3. Butter and eggs un changed. Cotton Market. NEW YORK. June 3. Cotton future Closed barely steady. July 20.63; October 0 41; December, 20.25; January, 20.15; March. 1S.8I. Spot, 4 t; middUng, 215. VHEAT IS SELLING HEAVY M-i-a AXY STOP-LOSS ORDERS ARE CAUGHT IX DECIiEVE. July ,..'..$1.17 Sept. uea. uly Dec July . Sept. ' 1.1714 1.19 .61' 62 .38 .40 Low. $1.14 1.15 1.18 .60 .60 .87 Close. $1.14 1.15 1.18 .80 .61 .87 39 July Sept. 11.35 11.60 11.35 11.62 11.40 11.67 SHORTRIBS. uly it on Sept. 1 1&0 cash prices were as follows: Wheat No. 2 hard, $1.17. Corn No. 2 mixed. 59 14 a 59 r : Ha yellow. 5960c uats no. 3 white. 37B41c: No X wh to 3638c. Rye No. 3, 96 c. Barley 60 70c. Timothy seed $45.50. Clover seed $1220. Pork Nominal. Lard $11.25. Ribs $12.50$13. Cash Grain Markets, Furnished by Herrin ft Rhodes. Inc.. roniann. MINNEAPOLIS. June 8. Wheat No. lard Montana. $1.35 1.40 : No. northern, $1.43l.53; No. 2 northern, i.40l.4U; No. 3 northern, $1.33 1.43; No. 1 dark northern. $1.58 1.64; No. 3 dark northern, $1.51 i.ouT,; jo. A aark nard Montana, $1.45 Barley, 49 60c. Flax $2.602.62. We Own and Offer: City of Corvallis, Or., 6 Improvement Bonds Maturities 1930-1932. PRICE: TO YIELD 5.10. Port of Toledo, Lincoln Co., Or., 6 Ref. Bonds Maturities 1931-1938. PRICE: TO YIELD 5.25. Sherwood, Or., 6 Water Bonds Maturities 1925-1933. PRICE: TO YIELD 5-25. Clackamas County, Oregon, Union High School District No. 2 Negotiable Interest Bearing 6s Maturities 1930-1933. PRICE: TO YIELD 5. City of Weston, Or., 6 Improvement Bonds Maturities 1924-1932. PRICE: TO YIELD 5.30. Detailed Circulars Upon Request. Western Bond (5? Mortgage Company 80 Fourth Street, Ground "Floor, Board of Trade Bldg. Portland, Oregon Telephone Bdwy. 6464 UNITED MEAT CO. 8 Preferred Stock Sold to Net 7 to January 15, 1924. . After said date and until called, 8. The packing plant situated on Columbia Boulevard and1 Vancouver avenue, is open for inspection between, 10 o'clock A. H. and 4 o'clock P. M., except Sundays. Sale of stock subject to with drawal without notice. Further details through Oregon Investment & Mortgage Co. 210 Exchange Building,. Second and Stark Sts. ' . or , United Meat Co. Kenton Station, Box 117, Portland, Oregon. - Kansas City Grain Market. KANSAS CITY, Juno 3. Cash wheat. No. 2 hard, $1.151.45; No. 2 red, $1.17 1.1V. Corn No. 2 white. 55Wc: No. 2 vellnw 57c. Hay steady to 50c hijrher: choice alfalfa. 9-o.ovgik.ov; iso. i prairie, $1213.50 No. 1 timothy, $2021; No. 1 clover, 9 lH.dOQZZU.OU. wheat July. $1.09: Spnt,mhr orn July, SoHc: Sentemher. SSUc uecemoer. oofec. Primary Receipts. CHICAGO, Jane 3. Primary receinta w neat, oe.uuu DUsnels vs. B14.U00 bushels. uorn, i,4U2,uuu Dnsnels va. 1,410,000 bush' els. Oats, 678,000 bushels va 842.000 bushels. Shipments Wheat, 573.000 bushels va o3,uuo Bushels. Corn 1,304.000 bushel; 698,000 bushels. Oats, 652,000 bushels vs. 30b,uuo bushels. Grain at San Francisco. SAN FRANCISCO. June 3. Wheat llillinc. $2.102.15; milling- feed, $2 92.10. Barley Fed, $1.35; shinpinK. $1,400 1.45. Oats Red feed, $1.5301.65. Corn White Egyptian, $22.10: red milo, $1.77Vi1.82. Hay Wheat, 1618; fair, $1416: tame oat, $la18; wild oat, $11 13; al falfa, $1518; new, first cutting. $13(815; stock, $1012; straw, nominal. . Seattle Grain Market. SEATTLE, June S- Wheat: Hard white. soft white, white club, hard red winter, soft red winter, northern spring, $1.18; eastern red Walla, $1.16; Big Bend blue stem, $1.30. Hay and feed unchanged, Minneapolis Wheat Futures. MINNEAPOLIS, June 3. Wheat: July, :i.35; September, $1.23. Dulnth Linseed Market. DULUTH, June 3. Flaxseed July. $2.624; September, $2.68; October, $2.51 asked. look int fields in sections where th -plant did not come up until spring. Texas has been losing tha past week, ana oiac rum Is reported there now. ftnrtns- wheat acreara was reduced by the late start, the average decrease being 8.8 per cent, a toss of 1,747,000 acres from last season Condition is high aa usual at 91.4. Moisture is ample, except in parts of South Dakota. The indication on re vised par is for 242,000,000 bushels. Last year the indication was lor zio.uuu.uuu bushels and the harvest waa 208,000,000 bushels. , Oats acreage shows a decrease of 7.4, or 3,312,000 acres and the condition of 84.5, which is 5 points below the average. The heavier loss was in Ohio, Indiana, Illi nois and Missouri, the latter state secur lna? only half the usual acreage. The con dition and acreage indicate a crop of 1,- 277,000,000 bushels. Last June the out look was for 1,405,000,000 and the final was 1,061,000,000 bushels. Interest in the wheat prospect is very acute. The late season haa created a mixed sentiment and the outcome will be attended by more than usual attention. In years when the chop haa been late, the veather rainy and cool, the results have been mixed, -but the tendency has been for a fall down, as occurred in the lake states in 1893. and in Illinois, Missouri, Kansas and Oklahoma in 1898. The latter season was similar to the present, and harvesting was delayed all over tne oeit. The June condition was an improvement over the May report, but shortly after wards the warm weather set in and re ports of damage -became general and there waa a sharp reduction in prospects. Rust and chinch bogs were prevalent and black rust developed in western Illinois and east ern Kansas. The prospect on Jane that year was Illinois 15 bushels per acre; Mis souri, 15; Kansas, 20.2, and Oklahoma, 18. The final harvest showed Illinois, 11 hash els; Missouri, 9.8 bushels; Kansas, 14, and Oklahoma, 14.9. SAN FKAXCISCO PRODUCE MARKET Prices Current on Vegetables, Fresh Fruits, Etc.. at Bay City. SAN FRANCISCO, June 8. (State Di vision of Markets. Fruit Apples, SMi tier, $2.1503 75; navel oranges, $6.508; Valenclas, $6.5008; lemons, $507; grape fruit, $34.2o; strawberries, $1.20 1.50; cherries, box, $1.25L75; apricots, pound, 1014c; raspberries. drawer, $11.15; gooseberries, pound, 10Q12C; cantaloupes, standard crate, $15; figs, small box, $1.50 2.25; peaches, small box, $2.75 3. Wa termelons, 89c pound: plums. $2.50 box. "Vegetables Artichokes, large crate, $4 8; asparagus, pound, 310c; beans, pound, 613c; 'carrots, sack, $3.5004; celery, nominal; cucumbers, dozen, 75c0 $2,26; lettuce, crate, 60 75c; mush rooms, nominal; white onions, crate, $1.25 g1.50; yellow, hundredweight, $11.15; parsnips, sack, $33.25: peas,' pound, 1 Gi'.ic; potatoes, $1.S02.75; new, 3 4c; rhubarb, box, $1.351.50; Bummer squash, crate, 3575c; spinach, pound, 2 4c; tomatoes, $3(8 3.25; turnips, $22.25. Receipts Flour, 260 quarter sacks; bar ley, 5600 centals; corn, 1600 centals; po tatoes, 45 sacks; onions, 1034 sacks; hay, 275 tons INTEREST IH CROP ACUTE WHEAT IS NOW APPROACHING CRITICAL STAGE. FOUNDED 1 87 6 SOUTHERN CALIFORNIA EDISON COMPANY Common Stock Paying 8 In Previous Years of Backward Seasons Tendency Has Been for Fall Down. Peter S. Goodman of Clement Curtis A Co., Chicago, in a special analysis of crop conditions, wired Herrin & Rhodes of Portland as follows: ReDorts of our corre soon dents made the condition of winter wheat 81.6, which Is 1.4 under our report of last month, and 1.9 under the government report. Indi cations of the crop are for 605.000.000 bushels, comparing with 574.000.000 bush els on our previous month's report, revised to the government increase of the acre age last month and with 685,000.000 bush els, the official estimate. - The par value of winter wheat as of June 1, Is lhk bush els higher than last season. Instead of one bushel, as given in the tentative pars, this resulting from - abandoned acreage being larger in the states of small yield than In the states of large yield. The cool weather has held -the condi tion in the central and eastern states, but In the south, where the plant is more advanced, rust damage has been heavy. These, however, are states of small acre age. .-Complaints are coming at th end, of the month from southern Illinois and Indiana ot rust and chinch bug damage. Kansas condition is mixed. The eastern section holds up well, but in the west there is prospect of farther a ben don -meat, tas weed - taking th xdozv likely I . ' - Dividends The Southern California Edison Company erves over 270,000 customers In South ern California. This company has paid dividends quarterly without interruption on Its common stock since 1909. The earn ings for 1921- amounted to Jib a share on the common stock after deducting an fixed charges and preferred dividends. Price 1034 EJLROLIINSfi'SONS hmrtmrnt Uondt 411 LEWIS BUILDING Cjtlcphane'Broadukiy 61 jg PORTLAND OSTOet - NTW YORK " CHICACO SAN rHANCISCO-LOS ANGELES - jy The national wealth of the United States has in creased since 1900 from $88,000,000,000 to $290, 000,000,000. Before the war we paid annually to Europe hun dreds of millions of dol lars in interest and divi dends to foreign holders of American securities. Today we are collecting interest from almost every nation .and from most cities of the world, thereby steadily increas ing our investment surplus. Freeman, Smith & Camp Co. I "24 Hours a Day" I Just Off the Press- The xrtmostin "work ing: value" of secur ities explained. Read how it is possi ble to double income and profits without extra cash or risk. "Financial Success" "The Current,'' is-suedweekly.isbfing-ing: financial success to our customers. An invaluable serv ice that you will need always if you try once. Ask for 133-PO NOW InvanoeatSeaeitia 43 ExdhmgoHaco New-York OVERBECK & COOKE CO. Brokers. Stocks, Bonds. Cottoa, Grain. Etc. C 16-2 17 BOARD OF TRADE BLDG. Walla Walla, Wash. Portland. Or. Pendleton. Or. MEMBERS CHICAGO BOARD 'bl' IBADS. Correspondents of Iran A Brraa, Chicago and Jietr York. HEMBEBS. ITew York Stock Eichang. Cblca ma Stock Excbanae. Boston Stock Exchange. . Cnicaao Board of Trade. Kew York Cotton Exchange. w Orleans Cotton Exchango. Kew York Produce Exchange. Winnipeg Grain Exchange. Uverpool Cotton Aasorlntion. For Sale Small amount of 8 Industrial Bonds and Stock in the same plant at a discount for 719, Oregonian HERRIN & RHODES, Inc. Established 1899. STOCKS, BONDS, COTTON, GRAIN Correspondents E. F. HUTTON CO., 1. T, aiembers atl leading exchanges. Baoson's Service on File. Bdwy. 7l. 201 ailwax Exchange Bids, $9148 PROFIT DT 30 DATS y S17M Prom In 28 Days; $2107 Profit In 21 Days $1666 Profit in 80 Iavs " 9 866 Profit In 15 Tar Produced by Stock Privileges on 100 shares costing $75 to $137.50. Write for Free Booklet No. 61 Pan! Knjro. 141 Broadway. Sew York.