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.