THE SUNDAY ORECOMAX. PORTLAND, AtJGXST 13. 1922
19.
DEPRESSION ROLES
GRAIN MARKETS
IN
All Cereals Drop to New
Low Figures.
NEWS LARGELY BEARISH
-prc-iilatlve Interrt Apparent! la
Lacking; Spreading of Kail
Mrlke Also I Factor.
BT CHARLM D. MtCHAKLS.
I Br Chicago TrltuM Lmv4 WM.)
CHICAGO. Atf. 1J. Lack of assre.
civ support ratner tnaa mar material
praaaare was responsible Tor a kreak la
II retn te nw law flrure (or th
eeaon Kiay. scattered liquidation was
la evidanca at tlmaa aa tlrd loot let
a. but la tba maia ta. area wa du
to ta market ataxia under tbtir a
w:gbt Whavat eiosad with Bat lees.
at lt. wan. cora waa aft 4wlc.
a at a 4 04 a and rye ancbaarea ta .
lowr.
Lard finished witJb a laaa of SffTMa
d short rib II He.
Grata walu wara oa tba down grade
tba greater part of tba weak. Numerous
tep-.oas ordera wera uncovered. The
feoeral run of news waa of a depreaaing
eaaractar. Wltb a lack of pcaiatii
Interest arid hedging: pressure, sentiment
fcarvni decidedly bearish. At tba laat
wbeat abowed SSOSe older tba fin.
tali of the previous week. Cora waa
rr ISOHc. oata 203Sc aad rye
:.
;anre'..atioo of export ordera and the
break In boa affected prtcea aod lard
closed wltb a loaa of 13 0 J- S aad ahort
r.ba lie.
eaptember wheat went to a premium
arer tba December. du to apprehend-on
aa tba part of abort aa tba result
of a spreading of tba rail strike. Lack
of moil, pow.e la curtailing th move
man t la ail sectlana af tba rountry. Ex
port baamaaa was not large and the
premiums oa epct hero little changed.
Tba roily which cam toward tba close
waa duo mainly to week-end evening up
a th part of shone Fentlment oa th
a ho. remained bearish.
Corn and oat showed an eay under
tone and wh.. September com acted In
(.pendent :y of tbe new crop delleerles.
f?u. to p-rslstent short covering and the
ml! strike, it had lltlt effect on gen
eral sentiment. Th latter remained
bearish, with a l--s of po'Uitiv aup
rvt an outstanding feaiar. Country
orT-rlng 10 arrive are light. Interior
nippers in having a hard ttm In fill
ing in contracts th-jr already have on
Iran-I
K as dull easier with wheat.
Kiuo t:h .ihord connections were
. r i : e buy'r. st time, while the
t ' Vumbrr - on track
r.n.'j.r: cirr July
mass BOND LOSSES RECOVERED
at ton tof ronimtrt
ei xchtPM for
otn lmpryrn)r-
A Hmwhii firmer ton was notd tn j 11 11
tli rvt for call mony. which fluctu-' xitif'.' TRlA't.
Thta waa ' - m - -
IS CP WARD
DC RING KKSSIOX.
ated between luel Drr cent.
attributed to withdrawals by Interior I
banks to finance the erop movement-
Money wa ta ample supply, however.
the absence of any stringency for some ,
time to cm. being indicated by th KaCil-11Sc Moves Within Narrow
wsakty renort of th federal reaere '
rstem. which aboveJ a reoerve ratio of
a" 4 per cant, th blgbcat record oa the
present movement.
burplue hbawa Decrease.
NEW YORK. Aur- IS. Th actuV
condition of the clearing house and trust
companies for the week show that they
Limits; Railroad Shares Are
Subjected to Pressure.
NEW YORK. Aug. 12. Price change
In bond transaction e th New York
imj-;'-" '? '" ' 'f".'.r" ' Mock eacnsnge today moved within aar
ZT,?:;.? ' - ..:, with the genera, trend ap-
i ward. 1 xcbu-fwlovakia fts and c.ty of
STOCKS SHQIV STRENSTH,'?i??:i
MARKET QCIET .AFFAIR. BIT
COFIIE.CK RCI.ES.
Day's Change in Price Gfner
ally Small. Traders Waiting
for InduMrfal Settlement.
TKIhl. TKHMI -TION EXPE(TEO
"r.rkaiiuiliM wt RtfHiftllc Ti-ara Mr
( ompmmf tlmnl.
r. CI.!. - so Trtbun- Wlr
. Au. IJ. Ta fact tftl
nsitnf u it lrTj,d4nt Hrdtnc lfor
fl irf tl tui: about th poaaibi-ltle
trnten. wa lid in railway quar
. tetiay ;ndtt Mtt f a trrmtna
itn of fi t'.k i-t wctk ome turn.
BT ALEXANDER DANA NOTE.
Hr Chtra.ro Tribune IeaMt WIr.)
.SCW TORK. Au. 2. For th finan
cial community today's hours of biMln
cnd?4 life many other days In th fort
night Pt, with almost com pie to lack
of know led c of Just what action bad
been taken at th Important labor con
ference, yet with certainty tbat this In
formation would be mad public not
many hours after the closing- - of th
market. People don't often look to a
week-end market, especially in mid-summer,
for reflection of financial Impres
sions concerning th outlook, sod today's
Inactivity utstd tittl except com
pletely suspended Judsment. On th
stock mar Net the day's chanirj- In prices
were fairly divided between advances and
declines, mostly of nesrllfflble Importance.
At the end of a week In which, as Th
the week preceding:, th drift of financial
markets lndlcsted strength, not week-
ness. and hopefulness rather thsn de
spondency. It Is natural to take ac
count of th situation which would now
xlst If the labor struagle had not oc
curred tn Its present form, or had ben
already settled. Th Influences which
would then have geverened financial set
tlement snd financial values are easily
determined : t hey would be th remark
ably sbundsnt yield now indicated for
the harvest, th pressure of orders In
th steel trsde. the increasing railway
traffic, th unespectedly rapid paying
off of the "froien credits." the distinct
Improvement of bustnees conditions In
the south and west, tns surplus reserve of
the country's banking system and th
consequent certainty of continued easy
money.
Thii la a combination, which, under nr.
dlnary ctrcumoCanceti, would presumably
havo Insured financial hopefulness snd
rising markets. To what extent It has
been count erbm lanced mm aa Immediate
Influence by the poihritles of th Isbor
deadlock was perb pa fairly measured
by th hslt which occurred in the finan
cial markets: a pue. however, accom
panied by no outward evidence of re
action or miscivlnr.
As evidence of eh an in sentiment, to-
day's foreirn exchange market was mor
positive, runner recovery in French ex
change brought the rate up to the price
of a week before, when the acute tension
st the leondon conference had not oc
curred. Sterling re;ined moKt of its
decline from the week's highest rate, snd
for that recovery the day's news sug-
geied more reasons thsn the turn of
events the I-ondon conference. Th
.e u ieg.(iste a secret i cabled statement or Jret Britain's for
eign trade ta Ju'y hored so substantial
Increase's in exports over re-cent months
snd so considers bte reduction of Im
port, t hat the "it port surplus" i cut
down t a figure tower by M O0.0O or
jS OOfl (hV sterling than In pt her recent
months and on y slightly above th pre
war monthly figure.
I'p.srua TL.a ..ffars4 frmm iv at th 1
! atsrt of trading but they recovered sll 1
loases la later dealings.
cnt and ot her European
uslly unchanged. Liberty
Issues held steady.
Railroad bonds moved with a Conflict
ing trend, but changes with few excep
tions were extremely nominal. Ksnsss
City Southern Kansas City terminal
4s. Northern faclflc -Is and Wabaeb
first were strong, but some weakness
was ahowo In M. Paul convertible s sna i
some of the other convertible Issues.
Industrial bonds moved upward In re-
ttenM to the rise In most Industrial
stocks. Republic Iron V Ste-I 5s, Cerro
de Pasco be aad Wilson company 7s
wers th leaders.
Total sales, psr value, were M.32..0OO.
n-iirnrnd aharea. which have been
atrong niot of .the week, were subjected
to some selling pressure in today's half
holidsy session of th -stock market,
closing at losses of small fractions to
IS points.
Industrial Issues, however, were strong.
International Harvester. Advanc Rume
ly preferred. American Radiator and
Sears-Roebuck pushing through to new
n-conis for 1022 on gains of
points.
Selling of rslla wss attributed partly
to profit-taking and psrtly to specu
lative pressor arising from the indef
inite status of the rail strike situation
and the lack of effective buying power,
dm to the absence from the floor of
many of the largest traders.
Chicago Northwejrtern suffered the
greatest depression, closing IS points
below Friday'a close, with losses of a
point or more also being shown by Atchi
son preferred. St. Tsui and (treat North
ern preferred. A few rails like Chicago
A Alton Chicago Great Western pre
ferred. Colorado Southern. Kri second
preferred. l-ke Erie A Western. New
Tork Central and Norfolk e Western ad
vanced fractionally on light desHnsrs.
Steel stocks were on of the features
of the Industrial group, both classes of
Bethlehem and Lackawanna rising; more
than IS points on snnouncement cf an
early coniVletlon of thelf merger. United
Htatee Hteel common. Republic. Gulf
Htatea steel and Midvaie also belt e red
their positions.
Columbia Gas and North America, each
at new top privs. festured the tran
sactions In public utilities, several of
which wer In fairly good demand.
Th day's sales totaled 275.000 shares.
.-.ipihar .mnrnvaament in French frsnc
and German marks wss the feature of
the foreign exchange market, reflecting
the more favorable news from the meet
ing of allied premiers in London. Local
trading- waa fairly brtsk for a Saturday.
The clearing hou statement showed
a decrease of more thsn $.2.0.0O0 In
actual loans, discounts and investments,
as compared with an increase of I8.00O,
trOO last week. The reserve of member
RmnW with the federal reserve bank was
decreased by fT.1l4.OO0. as against an
increaae of f9.atA.0H a weeK sgo. aew
holdings were decreased by l,OCO.
leaving the excess reserv at IB0.00I.0-.O.
CLOtMNO STOCK QUOTATIONS.
Furnished by the Ovcrbeck V Cooke
company of Portland:
NtruL Kales. Hub. Low. Bid.
The First
Cruise Ship to Go
Completely around the World
The New Cunarder, LACONIA, 21,000 Tons
Sails from New York, November 21st, 1922
3O.OO0 wonder miles by land and Sea. Arrangements for
sightseeing and travel comfort perfected with the experienced
care of the American "Express Travel Department. Long-to-be-remembered
shore excursion at every port of call. Havana, Panama
Canal, San Francisco, Hilo, Honolulu, Japan, China, Port Arthur,
Tsing TaO (Shantung),' Formosa, The Philippines, Java, Burma,
India, Suez Canal, Egypt, Palestine, The Mediterranean, and through
Europe. Cost of the Cruise is little more thanAiving expenses
at home. Rates including shore excursions, $1500 and upwards,
according to character of stateroom. Time of Cruise 130 Days.
WRITE OR TELEPHONE FOR FULL DETAILS
Also Tours to Europe, Fall 1922
American Express, Travel Dept.
Karl D. Walker. D. P. A
Carner Sixth aad Oak t.
HrMswij . B060.
WhernvT yarn rmr rr ssmrsa
Cisnf reveim lseras
I 14 new triiimph iri
Ship Building
Cine ef thv ie-oul friends of
Chart M S bb. when he heard that
the steelmaker and bis asseciatea had
pur-iaaad control of Stuts lotor. sent
h-s friend a letter of advice. "Hero la a
Sc heme by which yon can put yur com
pany f rtnly on It feet. he wrote, "do
what ail the rest of them are doing.
Get out a amU Ugnt car. put a price of
about on It. payable l per week.
-nd do not forgt to ..tn It the t'har.ey
.fehwab Vo to aid eeli m.l'loos t
them."
The bankers rprentmc th band
noldera of ih RepuMic MM or Truck
company aad th creditors af the com
pany have reached an arement oa th
)na octal reorgnisattofi of the company.
L tat is probe biy be issued early ax;
Mining Me-rka a4 Rootota.
Mining stock quotations st "Boston fur
nished by the Over berk dt Cooke com
pany of Portland:
Bid. Asked.
Steel prices continue upward and fur
ther advances are predicted in the trade.
The average pn.-s of e ght leading prod- j err l.ake
Ar'a Cmm
Adventure
A h mek
Altnuai
A rradtan
Ftlngham Mm
t'aluinet 4k Hecla.
New Corn
'entennial
Cop Hge
1 a via I a'y
fttitte
Krankltn Mng . . .
Ifanx-k
Helvetia
Inland Creek . . . .
Keew anav
1k Cop
I .m IS IT
Ml.-hlgaa
Mae Old Colony
Mason Valley . . .
Nipii-elng .......
tld Iom Cop . . .
4weoia Mng
Quincy Mng ....
Pnd Creek
lei Royal
South leake
Supp Boston . . .
fni Shoe Melt...
do pfd
i"uth Utah
Superior Cop ...
, Ifah Met a l
Ulan con
V S Mining . . .
do pfd
Ventura
Victoria .........
Winona ,
Wolverine
Wyandotte
Shannon
acta waa Quoted at 4VTl a ton this
week, an advaa-co of $1 9 s tB, the
gam ben g du to th rise In the price
of p Iron, steel pastes, beam and
Tfars. The current level compares wlfh
low of 4? 12. tab;shd tn the latter
part of February.
In a normal year the automobile In--utry
generally ttnss a rush of
buying In the spring, followed by a falltg
rff ta demand around the f.rst of Ju'y.
Ouch a movement wss witnessed this
year, but the fl tog off tn demand has
not been as tar; a in ether ye re. sc
fordlng to figures on production for July
as furnished by the trade A total of
; cars and trucks were produced
!st month, according the National
automobile, Chamber ef Commerce. This
4a a record for any co ft e ponding month
In th history of th Industry and th
third largest of any month on record.
a
Th report o the federal trade com
mies 'on on Its finding ta connection with
fh recent Inveetlgr-iion of the pending
stee! mergers- Is sipected to be made
public on Monday, according to reports
ta the financial diatrlct today.
ALL MONET R-ITFJ ARC FIKMEB
Mrwag rsevtowe Pre vails Trehaat
IVtek ta nail Mree.
NRW TORK. Aug. II- Wall streets
traditions! astam. "never sell stocks on
strike news," wss religiously observed
by I m porta at Investment interests tuts
week wjiaa o.uoted values tn the finan
cial mark eta moved to higher ground,
severe I to ew high record fr th year,
reardtes of tlie fact that th coal and
rail strike sittatiens had reached a crit
ical stage. The strong undertone that
p -availed throughout tbe we-k gav am
p's evidence that standard shares were In
strong hands, brokers reporting that the
floating supply of stocks was the smalt
Sat la several months. Attempte of
ahort Interests to frce liquidation was
generally unsuccessful escept In the
esse of a few Individual aharea which
lacked effective baying support.
t n rr iumtu. f a.na.a " wmi .
rrare thta fall bad a beneficial effect J
On tho shares of northwestern railroads,
equipment concerna. farm Implement
cofttpan'ea. mail order house and other
org nt sat ions which would be likely t
benefit by the Increased buying power
Of th farmer
tad teat. on ef an early settlement of
the soft ciial strike also was held re
soRetbte for the advance In some of tba
tesmes of industrial concerns, which bav
b--on hard hit by th fuel shortage.
Further evidence of th deterrent ef
fect of the cM.l strike en the Iron, steel
and other basic industries wss noted
daring the week, several more blast fur
nacaa beina blown out and production
g-nerahy being curtailed- The gain of
tin. lata tona tn Joly unfilled contracts
ef the tniteil l-tates ff ee corporation
wss eonatrued as being due to curtailed
production rather than to any heavy In
crease in ordera However, it la known
that oeveral larger steel com pastes
have ben forced to dec line orders be
cause of the present Impossibility of
fttltna them.
I : very indication points te a atrong
Industrial revival upon the settlement
of the en. I and rail strikes. W h-n th
autumn movement of the new crops to
market get under way It is predicted
that railroads will be hard preswed to
furnta i cars snd cth-r facilities to tak
csre of th vsst volutn of traffic,
Building operation during July j
reached a new high record, contracts la j
17 nonheaatern at ales amounting" to i
.-uv.ooa,oiW. an increase af 2 pr cent
tr th June figures aad an Increase I
of mnre than per rent over July of . Southern IMp
a st year. There has been a slackening out h Pean M
in ths demaad and production of motor f s w Penn Oil
. era. as Is customary in this season of rt Indiana . ,
she year. Kaes-s
ft
Ml
. . . M
...
... as
... u
...
. . .
...43
... T
... low
... 2
... IS
.".ll
v
. . . 4
... 1 I
... 2S
... 4
... I Ta
...
. . . 21.
. . . BH t,
...
... 24
. . . 4
. . . I
...
2n
. . .
. . . 4
. . . I
... S
... 41
si. 4
... 2tH
... 14.
...
. .. 11 H
...
. . . b-
" o
IS
2H
14
2TA
lf,
!',
Il
10T
2
4
4S
IV
2 "
4",
21
2d
x?
4W
- - :
'J
4H
IV
41
2V
I
4H
I
!
4
IK",
7,
XI
2.Sm --MS -'0W
IHrt tuv, J34
1H 37 37 H
' ioo iis i i .
"rtl 73" ii'i
SOO fr3S 63 Vs
iin ik"
'.HI H 3M
S.4U0 8 7H
2 IV HI 41 S
4110 0 "
Karelga Ktrhsste.
Foreign esrhange rates at the close of
baslnesa resterday. furnlshea by North
wrslera National tank 'of fort land The
amonnt aaoted la the equivalent T Ih
forelga nnll in Vnlted Mtates funds:
Country rorelga unit.
Austria, kronen
Belgium, franc
liulrarls. leva .
Cse.-ho-slov.kla. knonen.
tnniark. kroner
Knglantl. pound sterling ..
Kiltland. ftnmark ,
K'ance. francs
tlrmany. marka
lireece. drsc h mas. ....... .
Kollsnd. guilders
Hungary, kronen ........
Italy, lire
Jiigt.SVavii. kroaea
Norway, kroner
l'ortuical. escudos
K.iumanis. lei
Serbia, dinara
S.iatn. pe.aa
wnl-n. kroner .........
slwttaerland. franca
$ .004MI&
JITlMrt
.oTH
.dl-Cio
. 'j i :u
.44H-'
.rt.M U
.Ool'HI
.I31-"U
.8 !-
.11 'I -tl
CI4IIH0
.lriiHi;il
. I '!
.t7H"0
(llftlMI
.III
. i.-..-..o
.2l.tTl
STiMt"
7rt.M
4 7 7. Ml
ih'na-Hongkong, local currency
Shanghai, taets
Jspsn. yen
NEW YORK. Aug. IS Foreign e
rhsnce stesdy. t.rt-At Hritsln demand.
I4 4MI.: cshlrs. I4 4HI,: &0-day bills on
banks. $4 441.. Krsnce. demsnd. tt.tsH:
c.ble. a art, Italy, demand. 4.S2S: cables.
4 tl.X Hlglum. drmand. T 7.N 4 ; cttM.n.
71. Germany, demand. -1SS: cablea.
Holland, drmand. cables.
3i K.V Norwsy, demand. 17 2a. Sweden,
d-mand. 2S 30 Denmark, demand. 21 Ml.
Swltserlsnd. demand, lu 04. Mpsln. de
niaral. I..4.- lireece. d.inand. 14V I'o
land. demand. Ol S tecbo-Slovakla. de
mand. 2.A4. Argentine, demand. 3.OA.
UreoL demaad. 11. in Montreal. U 13 HI.
standard Oil Mfark.
Standard till stacks furnished by the
Overbeck A Cook, company of Portland:
Uld Asked.
Anglo
Iiorne ftcrysmer ..
Becker
Cbersebrough
do pfd
Continental
Crescent ..........
Cumberland ......
Kureka
Galena com
do old pfd . . . . .
do new pfd . . . .
Illinois rip-
Indiana f!p
National Tranatt
N V Transit
Northern Pip. ....
Ohio oil
International Ft
rnn Mn
Prairie Oil
Prairie Pin
Solar Refining ....
Interest In th fnr.ign situation was
rectereti on the meeting of allied pea
rt' leru is l-ondon. Foreign etchangs
war Irregular owing to the early uncer
tainty regard'ng tb. outcome of ths
nrem'ar' mee.ing.
Cable congestion du in th aeisur (l v.brseka
of ta laadiof stations la Ireland by lbs Iinerr:al oil .
S o K-ntu'ky .
s o New To.-k
S t tihio
do pfd
Swan A I'lnik
Vacuum ,
aeli'egtoa
li
411
llni
lo
....137
. ... as
....las
. . . . r
Ml
it
lot
lt4
. . . . M
.... Ml,
13
1S
. . . .273
.... Sill.
. . . . M
. . . . ll
. . ..24
!"ri
203
. . . . !
1"S
5-
. ... 1--.S
4--1
,...44
117
33
.. ..4i-4
. ... :j
...173
103
1
42rt
SS
SUM
1 1 1
143
t.
14rt
01
S3
113
1113
Mu
ni 'HI V
107
loO
77
jnt
S7
STi
33
343
4
lift
2
l"
...-.
!H1
4-.'
.-
I !
...
4-J
iA
no
4.rn0 47
Adams Express.
Advance Rum .
do pfd
Agr Chrm
do pfd
AJaii Rubber ...
Alaska Oold ...
Alaska .1 uneau. .
Alll'd Chem
, AMts-Chslmers.
do pfd
Amer Beet Sug.
Amer Boch . .
Am.rlaaCo ..
do pfd
Amer C 4 Kdy . .
do pfd
Amer Cot Oil ..
do pfd
Amer Iirug Syn.. 3.WX1
Amer H ar 1-. . . .
do pfd
Amer Ice
Amer inll Corp. .
Ain-r l.lnseed...
do Pfd
Amer lico
do pfd
Amer Saf ls
Amer S Com . .
Amr Smelting. .
do pfd
Amrr Snuff
Amr Sleel Kdy. .
Amer Sugar ....
do pfd
Amer Sum
Amrj T T
Amer Tobacco
do "B"
Amer Wool
do pfd
Amer W P pfd ..
Amer fctnc
Anaconda
Ad Oil
Atchison '
do pfd
Allan C Line . . .
A t! A W I
Ua 111 win Ioco
do pfd
Bait A Ohio
do pfd
BarnedeM Corp. .
llelh Steel "B". .
Booth risb
14 H T
Butte C T.
Butte Sun
Burns Bros
Caddo till
Cal l'ack:ng . . . .
Cal Petroleum . .
du pfd
Cana Pacific .. . .
iVnt Un'hrr . . .
i'-rrd F'asco. ..
Con Textile
f hand Motor . . .
C N W
fchgo nt ..w...
io pfd
Chill Cop
Chlno
C M ,t P
do pfd
Coco Cola
c O
cm r i
Colo Soulhern
Col f!s A Klec.
i --lull. I... (trauh
Con C.s M "S
Cons Cigars
do pfd
Cnntl Csn
Cities Svc links
Cora Prod
do Dfd
Cosden Oil .
C B 1 A P.
do "A" pfd
do "B" pfd
Crucible . .
In pfd
Cuba Cnn ....
do pfd
Cohan Amn Sug
!el A Hudson.,
lxirni Mines ...
Iel A La. k
liavison t'bein .
Kod Johnson
Erie
do 1st pfd
Klec Stor Bty
t'smons Players. S.Tna 80
red VI in am
do pfd .....
114
s
1V
T?l
331.
4
3T
37 V,
10O 172Vi 1721, 172
100 Ifli 2W
41
Ha i
'141 14L 14 14
mmi 71 V, 71 71 .
-"O 111" 111V, 111
2i 371. 37 37 1
2IHJ 3a-! 33V, 33H
fi
ino 11S HSH "S1
U
I.5ik 7 7V T
.VW 17S 7S IT.
2M tTs 0 "
7ls
137H
41H
fulV,
ln
HIO 3l 3HV, as
1.WH1 122S 122V, 122Vj
too l.Vl 14V li
Hal 147 147 14IH
t io 1 S IkiH ni
2O0 l7'a Ki7 I'll1
"w
Of! IS- MS HI
lilt ,
1 Kim im lont, mi j
Ilk) 92 v 2 1 V,
. 114
41.
Kll V
Going
Z '
Only 11 days to Rio de Janeiro
on netv U. S. Government ships
Fortnightly Sailings From New York
Are you going to the World' Fair? Will you mingle
with the brillknt aisembly from all over the world at
the international event in Rio de Janeiro?
Then learn what the U. S. Government ships offer!
Learn about the magnificent new ocean liners that offer
every modern luxury known to ocean travel. Round trip
only $450 to the World's Fair at Rio de Janeiro,
Write for Booklet
Your Government wishes the nam f every
frosfeBive traveler. Iyou are considering an
ocean voyage anywhere send the information
hlnnoto. Youwillreceivethe Government's
valuable booklet tf authentic travel infor
mation. You will be under no obligations.
And the twift new Government Ships offer the un-
- excelled service of the famous Munson Steamship Lines,
known for fifty years above all others on the South Amer
ican run. Rio is only 1 1 days away the fastest time.
No prospective traveler can afford not to know about
this extraordinary opportunity! Write today. You
incur no obligation.
fee issratari. 'rgmrding rettrvctitnt mddrta
Munson Steamship Lines
67 If mil Street New Tork Citv
I Mmmfgimg Oftratm ftr
UNITED STATES SHIPPING BOARD
INFORMATION BLANK
To U. S. Shipping Board
Infennstioa Desk Washington. D. C.
M 13t) HN
Please sss4 without obligation the U. S. Covers
stent Booklet firing travel facts. 1 an considering
tris Co Earese to tbe OriestQ t. Soars. Aster.
icsQ. 1 wsuld travel lit dais Q,aQ, JdQ.
It sat will ke about
Afr A'ssm '
Aff Burintn er" Trftshm
Mj greeef M.. r . F. B. ...
Tmm State
r? YOU are going to Europe you can now
travel on swift, new passenger liners that
represent a supreme achievement in shipbuild
ing. The fast, twin screw, oil-burners of the
"535" type, owned by the U.S. Government,
have become famous On every sea. Two of
them, the President Harding and the Presi
dent Roosevelt, operated for the Government
by the United States Lines, have been placed
in the service between New York and Ply
mouth, Cherbourg and Bremen.
Every device of the modern shipbuilder's
art has been lavished on these new ships. They
are at once incomparably safe, supremely lux
urious and unusually fast
Write for
Booklet
Send the coupon belou
today fir the remarkable
story of the "535'" and
for your Government's
authoritative booklet of
travel facts. If you are
going tf travel anywhere
on the seas you should
have this information.
INFORMATION BLANK
To U. S. Shipping Board
Information Section Washington, D. C
U. S. 130 HN
Please Bend without obligftticn. tb U. 6. Govern
ment Booklet giving travel facta and aUo information
regardirtg U. S. Government "hip, lam considering
m trip to Europe to The Orient n, to Soutfi
America . I womld travel Ut clast xaQ, Jd p.
Ifl go date irill be about, , ,
My Vmi
My Strmi N: . Z. -
United States Lines
Moore and McCormack, Inc.
Roosevelt Steamship Co. , Inc.
45Broadway .New York City
Managing Operators for
Ua S. SHIPPING BOARD
loiormatioa Section 13Q Washington. D. C.
1 Max Motor "A". 1.200 S7H 554 8
inn St Si's do "B" 1.1WJ 104s 18S I'
9m 24 1-4 1-4 j x,iv Slor, 4IM, i-miv, 12m, 1
M,
I Ml
D IXMI S4)
inn
200 -25
ttlMI
ITS
Sll SO
13fli 13"1 ISOt I
11
Si'a
I M K T Wl.
7V I
1,
Pel
ami
.Mid Stales Oil.
Midvaie steel..
5T
9
1 - 1-ja
7.KOO 177H 175 17t4
lilO 2ft i 29 H 2 Vs
S.tiOO IJ
1..VHJ 3SS
.-..
tin
141
an 44
s
in
r
MS
SS
yi-
2-'i
2:1 .
31 S
Mil's
7.-.Vi
24j
4Ii l
I1H
S
121
.... m;
7
774 74
. . . . 1
4O0 1144 1141, 114
ll
mi 141 S 141
30
lOl,
.
H?s
21 ,
22 1
I'M
M.
4HV.
A'tls
T3I,
3n
i
S
12-
200 7!H
1.2Hi -los
inn Si
Mfi 10 s
1.3:m r.ns
2 71MI MS
jno ,
2i 21 S
Sim 2iS
lull 2111,
2 IHo .12
2il 4
M4IO 7
llio 7rt",
1 im nn
lie! 4S
1.100 a; j
MiMI 3 4,
. too r.
. 1 4i) 45 S
'iiai ".is
. S.2x H2S
3imi Ut
4xi 15H
2nO SK
00 s
200 i m
2IM1 3.1
tlNI 133
2C 41
too HA
TOO I 7 4
7oO 20 S
43 S
44 Is
"MS"
2
IIS
t&4
3"S
2HS
IM
82.
133
4H14
K.l
17S
2S
'84
ion a.n,
SOU 13
ASS
12S
1.300 13 i3a
4.400
SiN) 34
MS
2tt
21 IO 81 S 31
. . 42 7oo no
o 30 S
1O0 82S
54S
S.aoo
88 S
311 S
82 S
54 S
17S
200 1 ims loos ion
SOO 41 S 0V 411
Piak Ti
flen Cigars ..
flea Klec
Uen Motor ...
da e
Cen ephalt
Oomlrlch
Ollrlrlen Paint
Cranny
Ot Nor Ore . .
fit Nor pfl. ...
tlreene t an
C.ulf fl Pleel ...
Olen Aiden
Houston Oil ...
Happ Motor ...
Ills Central
Inspiration . . .
1st Ag Corp cm
da pfd
lnterboro
da pfd
Interstate Call..
Int Hare
do pfd
Int Merc Marin.
do pfd
Int Nickel
Int Paper
do pfif
Invincible Oil ..
11, nd Oil
Jewel Tea .....
K C Southern..
do pfd
Kellv-Spgtla ...
Kennecott
Keystone Tire
1-aok Steel
1 Tire
lhlch Valley
I.orll.ard
Low Theater. l.feV) 1S 1'.
I. a N 400 132 132
Mex Seaboard., a. 000 U iiS
43 s
44 S
P6
83 S
H24
prt
fS
38 S
.-'
12
32i
M2
4N
82
17S
20 S
4tl
80
12S
MS
1.1
7dH
178S
13S
81 S
r
3.1
15
31
3S
KM S
SOS
82S
MS
78
17S
l.lOO
Voo
l.ooo
20
30
IS
4S
s
8TS
IS
4S
8S
1.500 11414 111
4 14S
1.000 ess
80O 17V
l.&OO 7S
'boo" 'iss
1.1O0 S
14S
AAS
17S
MS
iis
400 2rlS 2
IOO 43 S
.".mi as
.. S liW) S
.."7.o "ios
SOO S7S
. I.O11O
43 S
S
H
78 .
27 S
60S
s
38
IS
s
8
J14
115
MS
5S
17S
MS
85
US
V
17S
2S
37 S
43 S
38 S
7
79 S
27 S
80S
12
IT 113
22 Vs
do pfd Wl...
Mont Power . . .
.Mont Ward ...
Mo Pac
do pfd
M St P S 8 M
Marlanil Oil
War it Perry..
Nat Knainel . . .
Nat l.eari
Nevada Con ...
New Haven . . .
Norfolk aV W..
Nor Pac .
Nov. sco Steel
N V Air Urake..
N Y Central ...
Nor Amn
Okla prod ref..
Irtitarlo Silver . .
lintario V W...
LUIS Steel
Pnr!(l" Dev . . .
Pac Gas A Elec
Punta Alegr . .
Pacific oil
1,3110
Aim)
IKS
43 S
ion 71
T.700 25.
1l) 23
700 57 S
"166 '3SS
3ihi 211 S
1.UO0 5S
"ioo "is
2.41H) 31s
12s
34 s
1S
43 S
71
25 S
23
57
'38 S
29
57 S
iflS
31
12S
33
18
42S
70S
25 S
22S
57 S
3s S
2!S
58 ;
llS
IBS
31 S
3IMI 110. 115S 115S
.. 3.300 S27 81
100 78
(OKI 077,
1.000 70S
1O0 7
600 74 S
l.SOO RSS
70
71
Ml I 46 S
2"0 91
2
43 S
11 S
7S
2.4HO 7 S
XUO 40S
2,200 7S
500 121S 121
5110
IM1 7S
Pan Amn Pel.. 2.7HO
do "B" 5ii0
Penno
1'eo Oas
I'ere Marquett 1.000 3 S
cure t.Mi 7i
Phillip Pete .. 000
Pltirce-Arrow .. 2iM
Plerc Oil I.Oimi
Pitt Cosl ...
Pitts A W Va.
1'enn So Steel,
l'reseed S Car.
Pullman
Ray Cons
Heading
Ilemlngtcn
Keplogle Steel.
Kepub I 8. . .
do pfd
Hep Motors
Koy Mutch Oil
fey steel Spg. .
Stan OH Ky...
Sears Koebuck.
Shattuck Arls.
Shell T A T. . .
Sinclair
Stand Oil Ind.
Oo N J
3 loss Hhef ....
Sou Pacific
Southern Ry ..
Stand Oil Cal..
st U F
Sternberg Carb.
78
97S
75S
T
74. S
'.vis
75 S
70
4S
I
88 S
28 s
43 S
10
7S
s
40 S
7
7S
WOO 73S
loO 82
300 4
1.70O 53 S
72S
2
3S
53 S
81 S
31
7S
07 S
70S
2S
28
10S
6S
S
50
53
75 S
70S
OS
30
28
43
10
7S
67
40 s
TS
80
121
IDS
7S
SS
S2S
Wrstinghse A B 94
60 B A M. . SIS
West M.l 00 12S US US
White Mot.rw .. 500 48S 47 47S
Willys-Overland S.SO0 7 S
do pfd ll.liiO 40 " 37 3SS
Wilson Packing 2.000 4 8 49 S 46S
Wis Central 30
Worthington Pm 500 48 49 49 Vi
W i, E 14
Whlto OU 3IK 8 8 714
White Eagle Oil 2Q0 26 26 28
' s
Liberty Bond Quotation.
Liberty bond and victory loan quota,
tions furnished by the Overbeck: & Cooke
company of Portland:
Open. High. Low. CI. Bid
Liberty 3S. .. 100.94 100.94 1 00.82 100.112
do 1st 4 100.90
do 2d 4s 100.42
do 1st 4Sa-.M1.24 101.34 101.24 101.24
do 2d 4S. ..100.54 100.64 100.52 100.5;
do Sd 4,1. . .100.52 100.54! 100.52 100.5;
do 4th 4S-101.2 101.28 101.24 101.24
Vlrtorv 4... 1O0.48 100.52 100.4S 100.50
do 3 100.64 100.84) 100.S4 100.84
Money, Sliver. Etc.
NEW YORK, Aug. 12. Foreign bar sll
ver. 68 Sc. Mexican dollars, 52 Sc.
LONDON. Aug. 12. Bar silver, 84Sd
per ounce. Money. Is per cent.
Discount rates, TThort bills, 2 8-16 per
cent: three months' bills, 2 3-182S per
cent.
91
4
53 S
, .... 10D
n.-S
88S 2S
.... 10
87S
80S 80S
100S 10 109S
100 179S 17S 179S
44
2.10O 92S ft2 92 S
1.0O0 2S 26 S 26 S
SOO 105S 105 105
1.400 31S 31 31
2O0 47S 47S 47S
4,800 92 S
1.100 81
Studebsker 7.800 125 124 125
Swift Co. . .
Tenn C Ch... 400 10S 10
Texas OH 1.4IOO 4S 4S
Texaa Pac 3IH1 32 S 82
do C 0 2O0 24 S 24
Tob Products . . 900 54 S 54
Tran Contl Oil.. 200 18 13
Inion Oil Del... 30O 21 21
I'nlon Par
United Alloy ...
United Drug . .
I nlte.l Food Prd
United Fruit ...
L'nlon B ar P...
U 8 C 1 Pipe
United Retail St 1.700 5
U ti Ind Alcohol. 3.700 6
V S Rubber 4O0 57
do 1st pfd
V S Smelting..
V Steel . .i
do pfd
trtsh Copper ..
Va Chem
do pfd
100
10
4S
32
24 S
54
18
21
5O0 144S 144 143
100 37 37 37
79
400 7 7S 7
200 147 147 147
H4
SOO 84 S 34 84
65 3 S
65 66
57 S 57
104 .
40
4,800 101 S 100 101
10O 119 119 119
800 66 63 S 85
1.OO0 64
Vanadium Steel. 1.40O 49
Vivanriou
Wabash
do A pfd
do B pfd
Wells Fargo . . .
Western Pac . .
do pfd
Western Union.
mo lis
2.4lO 13 S
2 100 34
2
48
MS
13
33
100 101 101
26
OS
4!l
II
13
33
23
81
1
60S
Swift Co, Stocks.
Closing prices of Swift & Co. stocks at
Chicago were reported by the Overbeck
or Cooke compsny of Portland aa follows
Swtft Co.
Swift International
Llbby. McNeil Llbby
do new
National Leather
. .105-S
211
2
f ore! no Bonds.
Furnished by Overbeck A Cooke com'
pany of Portland:
Belgian rest 8s
do prem 5s . .
do 7s
do 6s
Brazil Ss
do 7s
British 5s
do 5s
do 5s
do vky 4s ..
do ref 4s ....
U K 5s
do 5s
do 5s
Bordeaux 6s ....
Canadian 5s ....
, lii 5s
do 5s
do 5s ........
do 5s
Chinese 5s
Chile Ss
French 4s
do 5s ........
do 5s ,
do 7
do 8s
German W L 5s
Berlin 4s
Hamburg 4s .....
do 4s .......
Lelpsig 4s ....
do 5s
Munich 4s ......
do 5s . ,
Frsnkfort 4s ....
Italian 3s
Jap 4s
do 1st 4s
do 2d 4s
Norway 8s ......
Swedish 6s
Denmark 6s .....
do Rs
Russian 8s ....
do 5
da 6s
1919
1920
1945
1925
1941
1952
1022
1927
1929
1919
1919
Bid.
68
72
105
99
101
92 S
91
94
98
80
77
. 1922 109
..1929 109
. 1937 104
. JB34 2
. 1920
. 1927
99
88
1929 102
198T 99
1931
1951
1941
1917
1920
1931
1941
99
52
103
49
72
60
99
1945 10S
1W
1
!
85
78
!3
93
1918
1931
1925
1925
1940 110
l:t 104
1942
... 1945
... 1921
i.. 192
... 1919
98 S
110
14
2
1
Ask.
72
7,1
105
100
104
93
93
98
97
82
80
110
110
105
83
100
100
103
100
100
54
103
52
76
62
99
106
1
IS
2
14
2
3
36
78
93
93
111
105
99
110
17
i
17
Sao Paulo 8s 1936 100 100
Swiss 5s 1929 108 1034
do 8s 1940 119 120
Dutch E Ind 6s 1947 94 94
do 6s 192 95 95
SEATTLE
THE ORIENT
onlLS. QovcrnmentShip3
Over tlie Short Northern Roote
Yokohama, Kobe, Shanghai, Horur Kong,
Manila ta express time. American vees.1,
providing nnezeeiled American food,
serrice. comfort. Sailings from Pier B,
Smith's Cora Terminal. Seattle, Wash.
rSasJeptaaciaaay
Pl.siJ.ul Jaclrieai .
President Grant . .
. Ana-19
. Sapt, a
. Soot. 18
. Sept- 90
PiasHs.il aUdaoi Oat, 14
Juti areey 14 days thereafter
Tar essui airtee soesiel a Jiii sss ieeai aoswt er
THE ADMIRAL LINE
142 aeata Owfc St.. Chitisn. TsL Csataal a3 -L.C
Saafa BUc, Sasma. Waak.
UK
,11
Sail Along California's Coast
In a Modern Hotel
Think of going- to sea In a first class hotel, and you hays some
Idea of the wonderful service, the splendid meals and luxurious
accommodations you get on the Tale and Harvard. Tour 1rip
to California la not complete unless it Includes this cool, clean,
pleasureful ocean voyage.
fill
San Francisco Los Angeles San Diego
Tickets, one way and round trip, may be routed via Tj. A. S.
S. Co. between San Francisco, Los Angeles and San Diego. Same
fare as all rail. Meals and berth extra.
Ask your local E. R. Ticket Agent, or write for folder,
LOS ANGELES STEAMSHIP CO.
R. V. Crowder, O. P. A., 685 Market St., San Francisco
R, F Cullen, D. P. A., 817 So. Spring SL, Los An.eles
'LOS ANGELES HONOLULU
) SERVICE
First sailing, CITT OF LOS AN
GELES, Saturday, Sept. 9. at
noon. CITT OF HONOLULU.
Satuday, Sept. 23. Every other
Saturday thereafter.
lU.S. shipping boards
1 ip .STEAMSHIP
111 Senator I
Sails from Munlrlpal Dock No. t
Wednesday, Aug. 16, 10 A. M.
Every Wednesday thereafter
FOR SAN FRANCISCO
LOS ANGELES SAN DIEGO
STEAMSHIP
Admiral Goodrich
Monday, An-, si, 7 P. M.
FOB MABSHFIEI.O
EUREKA SAN FRANCISCO
TICKET OFFICE
101 THIRD ST., COR, STARK
Phone Broadway 5481
STEAMER
San Francisco and Lea Angreles
Sailing; Monday, 2 :.'iO p. M.
Lore Rates
M. BOLLADf, Agent,
122 Third St. Phone Bdwy. 7326.
f1 i n iiljii whi.i i,i ... .. iliiiii)) I .uini.i i.msifmimiieii..i-j i.i-7XiiriHf'lTrP"T
5TB.. Mi.ew-
mmmmv
1
J
1
Now. Offerlns; Individual Contracts at Gui
"siiriir"--i"ijy'"
aran
Withdrawal Without Notice).
NORTH ATLANTIC & WESTERN 8. S. CO.
WESTBOUND
Portland, Me. Boston New York Phila. Baltimore Charleston
An ir. 13 Aug. 15 Aug. 20 ....... .......
Aug. 88 Sept. 1 Sept. .6 ........ .......
Sept. 12 Sept. 15 Sept. 20 ...
EASTBOUND FROM PORTLAND
IS WABASH August 14 ARTIOAS . . . ........... . .Sept. 13
S.s". COLD HARBOR August 18 LEHIGH . ..... .Oct. 4
8.S. BLUE TRLANGLE Sept. 4, i BRUSH. Uct. 18
101 Third St. THE ADMIRAL LINE, Paciflo Coast Agents, Broadway 5481. &
teed Low Rates (Subject to.
ARTIGAS
LEHIGH .
! BRUSH .
-i
j
'J
"armiriiiiriliTiiiii--ik:!'1
SEE!
OREGON-PACIFIC COMPANY
AGENTS FOR
TOYO KISEN KAISHA
AND JOINT SERVICE OF
HOLLAND-AMERICA LINE
AND
ROYAL MAIL STEAM PACKET COMPANY
Sailing; for Japan, China and West Coaat South America,
and United Kingdom and European Ports.
GENERAL FREIGHT AND PASSENGER OFFICE
(03 Wilcox Bids;. Bdwy. 4529 Portland, Or.
HONOLULU
Suva, New Zealand, Australia.
The Well Equipped Royal Mall Steamer
M AK1 KA (13.S00 tons). A UK. 18. Oct. 20.
Dec. t I NIAGARA 20,000 tons) , Sept. ft.
2HOV. . .an. xo. cau irom Vancouver, jd.v.
For rates, etc., apply Can. Foe. Railway,
oo antra ol.. ronnQU. or
Canadian-Aostralasian Royal Mall Line,
3U iiaUas bt. West, Vancouver. B. C.
THE DALLES-HOOD RIVER
STEAMER SERVICE.
FREIGHT AND PASSENGERS'
Lv. Portland, Dally Except Sunday.
7:15 A. M.
Lv, The Dalles, Daily Except Mon
day. 7:00 A. M.
Fare to Tbe Dnlles, S1.S5
Fare to Hood Kiver, $1.0fl
The Hark Ins Transportation Co.,
Foot f Alder St. Broadway 63-14,
1