THE SUNDAY OREGONIAJT, PORTLAND, SEPTEMBER 10, 1923
21
RAIL STRIKE FAILS
TOBKWIiG
"Outside Public" Refrains
From Selling Holdings.
RAILWAY SHARES FIRM
Forward Movement Affects Whole
Market; Gains Over Week
Ago Are Notable.
NEW YORK, Sept. 9 Although the
week ended In the financial markets to
day with pricea moving more irregularly
than on the two preceding days, there
was no change . In the general attitude.
Railway shares were particularly strong.
The greater part of that group shows
rather notable advance In prices' as com
pared with a week ago. But the for
ward movement haa affected the whole
market and perhaps has been especially
Impressive as an indication of the finan
cial mood from the fact hat the Wall
street professional speculator has con
vinced himself that the termination of
the strikes would be followed at once
by reaction in prices under realizing
sales of stocks that had been accumu
lated or supported when the labor con
troversy was in its most threatening
stages.
"Outside Public" Doesnt Sell.
Such reaction, after the situation has
cleared up, is not at all unusual, but its
scope is apt to depend on the extent to
which people identified with the prop
erties represented on the stock exchange
bad found It necessary to put in "sup
porting orders" to avert a heavy break
due to frightened selling by the public.
The peculiar fact about the financial
markets during the critical period of the
recent strike was that the "outside pub
lic" did not sell. Very rarely in Wall
street's experience have holders of se
curities, while on the one hand giving
voice in ' private conversation to their
personal misgivings, refrained so per
sistently from throwing their investment
holdings on the market.
Unfilled Orders Large.
Nothing in today's rather meager fin
ancial news threw any new light on the
general situation. The United States
Steel corporation's "unfilled-order state
ment." showing increase of 173,944 tons
during August and of 314,574 since July
1, conformed with expectations. Prob
ably the- figures Indicate hesitation in
accepting orders pending the uncertain--tiea
of fuel supply, for otherwise, with
the country's actual steel production de
creasing loi.lHio tons In July and 272,000
more in August, applications by consum-Vi-s
of stefl would have backed up orders
i. t a considerably more rapid rate than
actual unfilled tonnage figures show,
in the two mouths prior to July the
.orpuration's books showd increase of
. 3t,A0 ions.
do 7 1930
Penna R R 8fes 193a
Reading gen 4a 1997
S A Li 4s 1950
do 6s 1949
do 6s A 1945
Sou Ry coo 5a 1994
So Pac cv 4s - 1929
do ref 4s 1955
do sf term 4s 1950
S P conv 5s 1934
St L. & 3 P P L. 4a A 1950
do gen 5s 1931
do P t. Ss B 1950
do gen & 193t
do adj 6s 1953
do lnc 6s 19S0
St J, & S W 1st 5s 1952
do con 4s 1932
do 1st 4s 1989
Tex Pao 1st 5s 2000
In Pao 1st 4a 1947
do cv 4s 1927
do ref 4s 200$
do s 1928
Un Tank 7s 1930
Wabash 1st 5s 1939
do 2d 5s 1939
West Pac 6s 1946
Industrials
Am Agr Chem 7Hs 1941
Am Smelt 1st 5s 1947
Am Tobacco 7s 1923
Anaconda 6s A 1929
do 7a B 1929
Armour cv 7a 1930
do 4Hs 1939
Beaver Board 8s 1933
Beth Steel 7s 1923
do eq 7s 1935
do ref 5s 1942
Cerro de Pasco 8s 1931
Chile conv 6s A ,. 1932
do conv 7 - 1923
Colum Graph 8s 192-5
Copper Exp 8a . .. 1923
do 8a 1924
do 8s 1925
Colo F & Li gen 6s 1943
Colo Ind 5s 1934
Cuban Am Sug 8s 1931
Cuban Cane cv 7s 1980
Distillers Sec cv 5s 1927
Diamond Match 7 Vis 1935
Dupont 7V4s 1931
Fisk 8s .i 1941
Gn Elec deb 6s 1952
do deh s 1940
Goodrich 7s 1925
Goodyear 8s 1941
Helna 7a , 1930
Hershey 1V, 1930
111 Steel deb 44a 1940
Ind Steel 5a 1952
Int Agr 5s , ... 1932 .
Int Marine C T 6s 1941
Kelly Springfield 8s 1931
Kennecott 7s 1930
Lack Steel 5s 1923
do 1st 5s 1950
Libby Me X & L 7a 1981
Liggitt & Myers 5s 1951
do 7s 1944
Lorillard 5s 1951
do 7s 1944
Morris & Co 7V4s 1930
Procter & Gamble 7s 1923
Republlo I & 3 5s 1940
Sears Roe 7s 1922
do 7s 1923
Steel & Tube 7s 1951
Swift & Co. 7s 1925
do "s ' 1931
fni Drug 8s 1941
US Rub 1st ref 5s 1947
do 74s ; 1930
US Steel sf 5s 1963
Va Chem 5s 3923
V Car Chem 7Vis 1932
West Elec 5s 1922
West U T col Tr OS 1938
West Union 6a 1936
Wilson 1st 6s 1941
do cv 6s 1928
West Elec 7s 1925
Westinghouse 7s 1931
Public utilities
Amu I.t. & Tran 6s ; . 1925
Amn Tel coll 4s 1929
do coll 5s 1946
do 6s 1925
Bell Tel of Pa 7s 1945
BRT 5s 1945
Considered in their entirety and par
ticularly as compared with first-class
municipal issues that are offered cur
rently, liberty bond yields present rather
and on the majority of them more than i
4 per cent can be secured. At the Clos
ing prices today the yields were: Vic
tory 4 54s, 3.54 per cent; victory 49 of
lyi'3 3. .so rjer cent: third 4is. 4.24 ner
cent: fourth 4Vis. 4.16 per cent; second I Tidewater Oil iihim
Cities Service is E
do 7s C
do 7s D
Int Met 46s
Int R T ref Ba
Laclede Gas 7s
Mont Power 5s A..
Northwest Tel 7s...
Pac Gas os
Souwest Tel 7s
Oil bonds
Anglo Amn 7s ...
Atlantic Ref 6a
Gulf Oil 7s
Humble is
Amn 7s
Pet cv 8s
Sinclair 7s
SO Cat 73
I Pan
116(1
1 900
r.itii;
r.ir.u
1966
1930
1943
1941
1942
1925
1925
1931
1933
1923
1930
1936
1925
1931
112
110
86
59 Vi
29 V,
69
89
93
914
89
102
75 's
99 H
t9
104
84
78
83
80S
98
98 M
94
95 Mi
SV,
105
104
100
92
87
lOoH
94
103
102
103
105
92
79
106
103
94
105
94
108
37
103
103
103
90
80
106
89
46
108
108
107
102
105
103
115
106
104
92
101
. 82
63
108
105
93
102
99
119
99
119
11
105
102
95
100
101
100
102
103
112
90
109
103
100
105
loo
100
113
101
97
108
108
106
93
99
115
108
05
128
95
91
15
72
102
99
108
93
103
Federal System -Bakeries. .. .
Fidelity Security Corpn
Fisher Flouring Mills pfd...
Fleischmann Co pfd
Foster & Kleiser pfd.
96
97
97
77
General Petroleum com 100
do pfd . . . 95
Good Tire Rub pfd Calif.. 72
Graton-Knight Mfg com.... 50
do pfd 90
Gt North Livestock Units... 60
Hartman Co J I Gen pfd... 82
do redeemable pfd 87
Holt Mfg Co 1st pfd 88
Idaho Gold & Ruby s. . 30
King's Food Products Units. 50
Lilly Co Chas H pfd 86
Luckel King & Cake Soap. .110
Morgan Building 40
Oregon Portland Ce Units... 75
Oregon Worsted Mills 85
Owl Drug Co com 92
do pfd 105
Pacific-Alaska Navigation... 50
Pacific Car & Foundry 65
Pacific Coast Biscuit 115
Pacific Coast Co com 12
do 1st pfd 30
25
95
92
12
80
90
85
20
90
87
do NY 7s 1981
1931
4s, 4.21 per cent: first 4s. 4.17; sec
ond 4s, 3.98 per cent: first 4s, 3.92 per
cent; 3'is. 3.40 per cent. First-class
municipal i.-sues are offered currently
from 3.95 per cent to around 4 per
It -must be said that the mergers and
reports of mergers in the steel trade
have been more or less of a fizzle in
stock-market reflection on the prices of
aecurities of the corporations involved.
n. n
Caspite- the strenuous and emphatic
-' denials which have been made by execu
tives of the corporation, certain interests
in Wall street continue to insist that a
. complete financial reorganization of the
Pullman company Is under consideration
and probably will go through within the
next month.
After a period of several weeks, in
: which It has been quiet and Irregular,
with uprushes here and there as one or
two groups of securities were taken in
hand, the bond market appears to ob
servers in Wall street 'to be getting back
on an even keel once more.
Although much is heard in the finan
cial district regarding the profits of the
various oil companies in different sec
tions of the country because of tha re
cent sharp fluctuations in oil prices, the
Industry is o ne in admitting that, re
gardless of prices or profits, petroleum
is being moved In record quantities.
New York Bonds.
Furnished by Jordan, Wentworth &
Co., of Portland:
Atch gen 4a 1995
A C Li 4a 1952
do 7s .... 1930
B O gold 4s 1948
do con 48 CV. . , ;,. 1933
do ref 5s 1995
Canada Southern 5s 1962
Canadian Nor 6s 1946
do 7s 1940
Cent Pac 1st 4s 1949
Ches & Ohio cv 4s , 1930
do gen 4a 1992
, do cv 5s 1946
do con 5s 1939
C B & Q 111 dlv 48 1949
C as West Ind 4s 1952
C G & W 4s 1959
t; M Sc tst f 4a 1925
do cv 4s 1982
do deb 4s 1934
do gn 4s A 1989
do cv 6s 2014
do g&r 4s A 2014
Chgo NW gen 4s... 1987
do 68 1936
do 7s 1930
C R I & P ref 4s 1934
Colo- Sou rf ex 48 1935
do 4s 1929
Del & Hudson cv 5s 1935
do 7s 1930
D & R G cv 4s 1936
do ref 6s 1955
Erie pi 4s 1996
do con 4s A 1953
do a 1953
do D 1953
Erie Pa CG 4s
Gd Trunk eq 6s. ..
Gt Nor 4s
do 7s
Gt Trunk 6s
do 7s
Ill Cent Jt 5s
do ref 4s
K c Sou ref 5s
Keo & Des M 1st 5s.
I. S & M S 4s
I- & N" 7s
do uni 4s .........
-S C 7s
.i St P & S S M
A I K T 4s
i' gen 4s
! let 5s .........
.' 'f re I' 5s .........
. V c deb 4s
-In con 4s . .
do ref imp 4s ..
do cv deb 6s
tlo coll 7s
j X H & H cv 6s.
o Tex & Mex 5s 1935
1 P Li 4s 1997
,is 2047
I' Gt Nor jt 68 1936
K L ref 4s 1929
nna 6 1936
do sen 4s 1965
do 4s i960
tip gen Bs 196S
1951
1936
1961
1936
1936
1940
1963
1955
1950
1923
1931
1930
1940
1946
1990
1975
1923
1926
1934
199S
2013
1935
1930
1949
X
93
80
107
87
86
81
100
113
114
90
75
90
98
108
91
77
68
75
75
67
78
78
68
89
111
109
85
90
93
101
112
78
4S
67
62
02
54
88
107
94
113
10o
113
99
91
1
93
94
108
93
101
106
84
69
100
97
91
83
90
106
105
85
77
91
109
104
93
111
94
IO23
Vacuum Oil 7s 1936
Foreign governments
Argentine 7s 1927
Belgium 8s 1941
Holivia 8s 1947
Brazil 8s 1941
do 7s 1952
Canada 5s 1952
Chile 8s 1040
Czecho-Klovak 8s , 1951
Denmark 6s 1942
Dutch East Indies 6s...'... 1947
do 1902
French Cities 6a 1934
Mexico External 5s.. 1954
do 4s 1954
Netherlands 6s 1972
Paris-Lyons-Mdtrn 6s 1958
Rio de Janeiro 8s 1947
Seine 7s 1942
French Internal 4s 1917
French Victory 5s 1920
Belgian Restoration 5s
British 2 consols
Ital. Cons. War Loan 5
Curb bonds
Allied Packers fls
Am Tel & Tel 6s 1922
do 6s 1924
Anaconda Copper 7s ....
do 7s , .
Anglo-Am OH 7s '
Armour & Co. 7s
Beth Steel 7s 1935
Consol Textile 7s
Copper Ex Assn 8s 1924
do 1925
Galena Signal OH 7s
Grand Trunk 6s
Gulf Oil Co. 7s
Inter-Rapid Tran 7s 102
103
103
105
100
101
107
105
100
109
104
108
101
105
98
102
92
99
101
9(1
99
99
97
84
57
43
95
70
99
90
50
00
68
52
36
81
100
101 H
102
102
103
104
103
99
101
103
105
104
100
do 2d Dfd
Pacific Portland Cement..
Palm Olive Co 7 pfd
Paraffine Cos com
do pfd . .
Penn Pacific Oil
Portland Feeder Co.
Portland Realty Associates
Portland Vegetable Oil
Refrigerator Car Equipment
Keid tiros com
do pfd
Santa Cruz Portland Cement 90
2d Northwestern fin units... 45
Sperry Flour Mills com..... 61
do pfd 97
Skookum Co com 60
do pfd 70
Superior Portland Cement... 88
Todd Shipbuilding 65
Union Oil. Cal 168
do Associates 167
Utah-Idaho Sugar 2
Wash Brick Lime S P Pfd 15
Western Auto Parts com.... 11
do pfd , 8
Western Auto Supply 12
Western Bond & Mortgage.. 98
Western States Finance Units 35
Western Wall Board com... 60
do pfd 80
Western Wool Warehss pfd. 50
Bonds
Albers Bros 7s 1942 99
Asso Oil 1st mtg 6s 1932. ...100
do ref 5s 1930 99
Bdwy-Yam bldg 7s 1923.. 101
do 1926 102
Cal-Or Power 6s B 9S
do TV-s A 108
Central-Pacific 1st 4s 90
Cen Pacific Col Stock 4s 1949 72
City of Astoria 6s 1927-42. . .100
City of Tillamook 5s 1042. ..100
Denny-Renton 8s 1929 100
Federal Tel 7s 1923-27 92
Gen Petroleum 1st mtg 7s.. 104
Home T & T Spokane 1st
mtg 5s 1936 97
Idaho Power 1st 5s 92
Mt Hood Ry s 1927 90
Morgan bldg 7s 1926 97
Northw Elec 1st mtg 63 '36.. 100
Or-Cal 1st 5s 1927 99
Or R R & Nhv 4s 1946 89
Or-Wash RR&Na v 1st 4s '61 83
Or Elec 1st mtg 5s 1936 55
Owl Drug 6 Notes 99
Pac Coast Biscuit 6s 1933... 90
Pac Power & Light 5s 1930. 9
do 8s 1930
Pac Tel & Tel 5s 1937
do 1942
do 1952
Pittock Block 6s 1940
Port of Astoria 5s 1925...
Portland Gas & Coke 6s 1940 92
, do 7s 1940 . , 104
do 5s 1951 . 92
P R L & P 8 gold notes '26 97
do 1st ref 5s 1942 85
do 7s 1946 104
do (C & S) 4s 1930 81
do Gen Elec 5s 1936 87
South Idaho L & P 7s 1925. 91
South Pac 1st ref 4s 1955... 90
do 30-vr cv 5s 1934 84
Sperry Fir M 1st mtg 6s '34.102
Santa Cruz Port Cement 6s. 100
Union Oil Cal 0s 101
Wash-Idaho W L & P 6s '41 35
Willamette Val Sou 6s 1939. 87
-
100
102
105
83
HOtf
98
75
55
97
67
90
95
90
35
60
90
120
50
85
100
97
110
75
75
135
18
40
25
100
100
15
. 8.1
4
100
75
90
36
95
93
92
60
65
102
70
1 85
95
68
170
169
5
25
12
, 10
15
105
50
75
85
75
101
101
100
102
103
101
110
91
73
101
102
101
95
105
.105
. 98
. 94
. 99
. 93
96
100
95
93
100
101
100
90
84
65
101
95
93
106
99
95
100
96
99 .
93
105
93
100
87
106
82
89
94
90
- 87
103
101
102
43
90
RAILROAD BONDS Flflfi
O.-W. R. & 5T. 4S ADVANCE IJT
NEW YOBK MARKET.
Traction Issues Tend Upward;
liiherty Group Holds Steady;
Few Changes in Industrials.
Sears Roe 7
So West Tel 7s
Standard Oil pJY 6a
Swift A Co. 7s
do
yr 1923 101
108
101
102
1933
1926
1931
INTELLIGENT PRODUCE
MARKETING
You will get hig-her returns for
your produce if you will use our
new methods before shipping any
product to market.-
Write Hm at Once.
We Will Be Pleased to Tell Ton How
RUBY & CO., 215 FRONT STREET
PORTLAyD, OR.
Always In the Market for Dressed
VEAL, HOGS
What Have YonI
. Write for Tag and Prices.
BLUE VALLEY PRODUCE CO,
Foarth and Cliiaa St,
Pacific Northwest Stocks and Bonds.
Furnished by Jordan, Wentworth &
Co. of Portland-:
Bank stocks Bid. Asked.
Bank of California, N A ... 202 207
t-iuzens oiaie nanx iou
Canadian Bank of Com 180
First Nat Bank of Portland. 190
First Nat Bank Freewater. .290
Hibernia Com & Sav Bank.. 175
Ladd At Tilton Bank 300
Livestock State Bank 150
liumbermens Trust Co 90
Multnomah State Bank ....150
Northwestern Nat Bank ....135
Peninsula Nat Bank 125
U S National Bank 320
Public Utilities
Boise Gas L, & C pfd 30
Cal & Or Power com 5
do pfd 87
Federal Telegraph 6
Idaho Power pfd 90
Northwestern Elec com .... 16
do 6s pfd 85
do 78 pfd 94
Paclflo P & L pfd 96
Pac Tel & Tel com 55
do pfd . 90
Port Gas i Coka 7s pfd 96
P R L, P com 15
do 1st pfd 65
do 2d pfd 35
Puget Sound P & Tj com.... 54
do pfd 98
Tacoma Gas & Fuel com.... 2
do pfd 25
Washington Water Power. ..103 -Zellerbach
Paper com 75
do pfd 98
Insurance stocks
Firemen's Fund 320
Home Fire & Marine 25
Montana Fire 40
Montana Life 20
New World Life 11
Northern Life 125
Oregon Surety & Casualty. . .105
INDUSTRIAL REVIEW IN PROSPECT
Wall Street Opinion Shown by Steady
Rise in Security Values.
NEW YORK. Sept. 9. Wall street's
belief that a moderate industrial re
vival was in prospect for this fall, de-
unite the handicaDS imposed by the min
ers and railroad shopmen's strike, found
expression in the steady rise in quoted
values la the securities market. Wednes
day's' rather sharp reaction was gen
erally regarded as being due to a read-
lustment of the technical position, vir
tually ail of tne losses oeing recoverea
and gains made in the next few days of
trading.
Traders no longer regard the shop
hien's strike as a serious menace in the
railroad situation, basing their optimism
on the steady increase in car loadings of
revenue freight and corresponding de
crease in idle cars and the apparent ex
pansion In the earnings of the - first
class roads, whcih were able to report
a net Income for July of only 1-10 of
1 per cent leas than last year, despite
the heavy expenses incurred as a result
of labor troubles.
Commodity prices appear to have be
come more stabilized. Coal and steel
prices are tending upward because of
strike conditions, but dispatches from
the iron and steel centers indicate that
the higher prices are but temporary and
Influenced largely by the increased cost
of operation, due to . the high . costs of
fuel and scarcity of material. Grain and
meat prices showed a reactionary ten
dency, as did those of cotton, which waa
considered a bit unusual because of the
abnormally small supply of the products
in prospect.
Eastern manufacturing centers report
a shortage of skilled labor, while agri
cultural districts of the south and north
west indicated that unskilled laborers
are in irrpat HAmanri frtr th mnvAmonl
02 I ot crops, but the shortage is considered
a temporary one. Seasonal falling off
of automobile production and building
trades activity is expected , to release
thousands of men for other lines of
work.
Postponement of the German repara
tions problem to November has removed
another "crisis" which has had a de
pressing effect on foreign exchange
rates. The plan of Hugo Stinnes, Ger
man industrial baron, for. the restoration
of the devastated districts of Franca
with German materials has bn favor
ably regarded in local banking circles
and has been construed in some quar
ters as forecasting a downward revision
of the German reparations payment.
Foreign exchange rates sagged a bit
this week in response to the heavy of
fering of demand sterling bills against
grain and cotton shipments. The heavy
increases in the note circulation ol
France and Germany, whloh totalled
572,000,000 francs and 23,800,000,000
marks, respectively, also was a contribut
ing factor.
Call money rates held fairly steady
during the week, betwten 4 and 4 per
cent, as compared with a range of S
to 5 per cent the week before. Th
most activity was noted in the time
money and commercial paper markets
with the rates increased in firmness
180
100
210
825
190
350
175
100
175
150
135
340
40
7
92
7
95
17
92
96
98
60
91
98
16
65
45
58
97
38
107
SO
100
325
26
50
Paclflo States Fire 7
Pacific Mutual
Vulcan Fire .'
Western States Life
Lumber, pulp and Duoer
Arctic Construction
Central Coal or Coke com..
do pfd
Crown-Will Pulp &. Paper.
do A pfd
do B pfd
Hawley Pulp & Paper
Mult Lbr & Box spcl coin..
do 10s pfd
Oregon Pulp & Paper com.
do ptd
Pacific Box pfd ; . .
Peninsula Lumber pfd
Tum-A-Lum Lumber com.
do 8s pfd
do 10s pfd
Wash Pulp & Paper com...
do pfd
West Lumber com
Weyerhauser Timber
Yaqulna Bay Lumber com..
do pfd
Miscellaneous stocks
Aero Alarm com
do pfd
Alaska Steamahip
Alaska Packers .
Albers Bros com
do pfd
American Chain com
do pfd
American Liquid Meter pfd.
American Nitrogen com
do pfd
American Securities Co Units 30
American Typefounders com 52
do pfd 98
Asso Engineering Corpn com 50
do ptd 60
Centennial Milia 107
Coast Tire com : 3
do pfd 3
Connor Co Syrup 55
Dennos Food of Seattle..... 4
Dennos Food of Portland..."
Dennv-Renton Clay & Coal.
Dollar Steamship
Durant Motors California. . .
Fairbanks-Morse com.
do pfd ............
.510
15
. 14
37
. 79
. 79
.400
. 98
. 98
.210
. 70
. 80
.100
97
. 95
. 95
. 75
. 95
.100
. 45
. 75
.140
.350
1 ,
42
78
135
47
77
95
95
60
8
10
3
15
30
11
47
2i
12
140
113
8
600
16
15
42
82
100
100
'so'
90
110
100
100
105
85
105
110
55
90
150
400
5
50
82
150
55
S3
100
106
75
12
20
50
55
100
65
75
115
4
4
65
6
5
30
40
12
52
87
NEW YORK, Sept. 9. Railroad bonds
were again the favorites in today's brief
dealine-s in the bond market, excellent
gains being recorded by some ordinarily
inactive issues.
Iron Mountain River & Gulf 4s rose
points and Western Pacific was up 3 on
oomnarativelv light turnover. Del
ware & Hudson convertible 6a climbed
two ooints in belated response to the
sensational gain in that road's stock
vesterday. Gains of a point or more
also were recorded by Oregon-Washington
Railway & Navigation 4s and St
Paul & Kansas City Short Line 4s.
Local traction issues displayed a buoy
ant tone; advances of 1 to 2 being
recorded by Brooklyn Rapid Transit
tier cent certificates, 7s and stamped- '
A gain of a point in Maryland Oil 8s
and a decline of a point in American
Telephone 6s were the only other im
portant changes in the industrial and
ntihlirc utilifv firroups.
Anton Jurgens 63 dropped a point, but
other changes in the foreign division
were of a nominal character.
Liberty issues held steady.
Buying of selected specialties, several
of which were pushed up from two to
nearly eight points, provided tne stlmu
ins tor the rather general advance ti
today's brief holiday session of the stock
market. Profit-taking in the last hour
rave the appearance of irregularity, loss
of a point taking place in Crucible,
Studebaker and Marine preferred, but
the general list held up well and in many
cases final prices were at tne nignest
figures of -the day.
Shares of dividend-paying rauroaos,
especially those likely to benefit from
the heavy coal and grain movements this
fall, were in much better demand. Re
cent strength of Louisville & Nashville,
whicn advanced to new high ground on a
net gain of over 2 points, contributed
substantially to the three-point advance
to a new peak price in Atlantic coast
line, which owns tha controlling inter
est in the Louisville road and would
benefit materially from the - reported
capital readjustment of the latter. Union
Pacific closed at a net gain of 1 points.
Constantly increasing orders for new
railroad equipment were reflected in the
trentrth of Baldwin, which toucned
the best top price of the year, on a net
gain of 2 points, and American Loco
motive, which also established a new
top price at a gain of 2 points.
General JSIectric also was up a point-s,
and Railway Steel Spring was up i.
United States Steel improved traction-
ally, but independent steels were irregu-
ar. Tne gain 01 na.v ions in me un
filled orders of the United States Steel
corporation, which was announced afte
the market closed, was a surprise
most quarters, as an increase of only
50,000 tons had been looked for.
Total sales were 438,100 shares.
The weekly clearinghouse statemen
showed a decrease of $1,270,000 In loans,
discounts and investments, an increase
f S6.298.0OO in cash and an increase o:
2,234,000 in the reserve of member banks
n thn federal reserve bank, the exces;
reserve showing an Increase of $7,541,000.
Forelan exchange rates were steaay,
moat changes being of a nominal nature.
CLOSING STOCK QUOTATIONS.
Furnished by the Overbeck & Cooke
company of Portland:
Stock Sales. High. Low.
Adams Ex 300 78 77
Advance Rum
do ufd
Marland OH 3,300 41 41 41
Martin Parry 400 81 80 30
Nat Enamel 600 63 62)4 62
Nat Lead 400 108 108 107
Nevada Con 17
New Haven 2.000 32 82 32
Norfolk & W.... 1,600 125 124 124
Nor Pac 1,100 89 S8 88
Nova Sco Steel 35
N Y Air Brake.. 100
N Y Central 2,300
North Amn 400
Okla Prod ref... 300
Ontario Silver
Ontario W.... 400
Otis Steel 100
Pacific Dev 200
Pac Gas Elec. 900
Punta Allegro. . 100
Pacific Oil 4.100
Pan Amn Pet... 2,100
do B 900
Penna 2,200
Peo Gas 200
Pere Marquette.. 1,400
Pure Oil 500
Phillips Pete.... 8,300
Pierce Arrow.... 800
Pierce Oil 500
Pitts Coal 1,700
Pitts & West va. 100
78
9S
94
a
78
98
94
1.800
2O0
27
11
4
83
48
59
81
77
46
93
39
33
64
11
7
71
39
7
89
5,100 136
7"U 16
.14.000
. 1,000
100
. 2,000
200
2.600
LlOO
83
40
33
69
92
4
58
100 119
110
92
40
14
89
59
40
'l3' '
88
59
44
63
Agri Chem
do pfd
Ajax Rubber .. 3,400
Alaska Gold ... 100
Allied Chem . . . 2.200
Allis Chalmers.. 300
do pfd
Am Beet Su...
Am Bosch 700
Am Can Co 1,100
do pfd
Am Car & F. .
do pfd
Am Cot Oil
do pfd
Am Drug Syn.
Am Hide & L.
do pfd
Am Ice
Am Int Corp..
Am Linseed . .
do pfd
Am Loco 5,400 126 123
do pfd
100 109
100 109
800 ' 14
300 73
500 121
500 35
300 35
. 43
63
109
109-
14
73
120
35
35
Am Sat Raz 300 7 6
Am Ship & C... 3,000 19 19
Am Smlt 300 65 64
do pfd 200 102 102
Am Steel Fdy.i 1,900 42 42
Am Sugar . 10O 83 83
do pfd
Jim Sumatra ... 800 41 40
Am 'rei & rei. .. a,vu aa'A
Am Tobacco ... 400 167 167
do B 100 164 163
Am Wool 3,800 102 100
do pfd 100 110 108
Am W P pfd
Am Zinc 18
Anaconda 1,700 55 55 55
Bid
78
20
89
71
14
88
58
IOI
46
43
63
109
109
122
28
Do
6
14
72
120
35
35
54
125
120
6
19
64
102
42
83
110
40
123
Inn
163
101
110
31
Assd Oil 300 119
Atchison 1,400 104
do pfd
At Coast L 3,900 123
At G &; W I 800 32
Bald Loco 14,500 136
do pfd
B & 6 1,600 58
do pfd 200 65
Barnsdell Cp.:. 700 86
Beth Steel 8s... 200 116
do B 300 78
Booth Fish
118
103
i2' '
32
132
700 25 25
100 30
200 136
800 's4"
200 04
100 95
2,100 149
1,300 42
MODERATE BULGE IN FUTURES
Cotton Prices at Close Are 20 to 32 Points
Net Higher.
(By Chicago Tribune Leased Wire.)
NEW YORK. Sept. 9. A bulge of mod
erate proportions followed opening Un
certainty in the cotton market today.
Demand came chiefly from ahorta even
ing up for tha week-end. The first
hour advance was 10 to 20 points follow
ing a steady and dull opening. The
market was still under the influence
of its improved technical position, the
continued bullish weather in the belt and
more favorable outside conditions. In
creased support developed in the latter
half of the session and the market turned
strong in tone, -.with most options across
the 22-cent level. Wall street and out-
aide shorts bid actively for contracts in
the second hour of the short session, un
til net gains amounted to 45 to 49 points,
but near the close a little long selling
appeared and last prices were 20 to 82
points net higher.
Spot was steady, 30 points advance,
22c for middling upland.
Southern markets were: Galveston,
21.35c, 25 points advance; New Orleans,
21.38c, 53 points advance; Savannah,
21.35c, 15 points advance; Augusta,
21.44c, 44 points advance; Memphis,
21.25c, 25 points advance; Houston,
21.25c, 25 points advance.
NEW YORK, Sept. 9. Cotton futures
opened steady: October 21.3Sc; Decem
ber 21.64c; January, 21.60c; March.
21.75c;May, 21.68c.
Futures closed steady; October 21.72;
December 21.95c: Januany 21.85c; March
21.99c: May 21.95.
Chicago Oil Market.
CHICAGO. Sept. 9. Gasoline. tank
wagons, 21c; service stations. 23c: ma
chine, 27.9c. Oils, summer, 11.4c; win
ter, 11.9c. -
Carbon perfection, iron barrels, 11 c;
linseed oil, raw, 1 to 4 barrels delivery,
$1.04; boiled, $1.06. Turpentine. 11.43.
Denatured alcohol, 40c.
Cotton Seed Oil Market.
Cottonseed oil futures at New York,
furnished by Jordan-Wentworth & Co.,
Portland: September. 8.158.35c; Oc
tober, 7.817.83c; November, 7.57
7.58c; December, 7.627.65c; January.
7.627.63c; February, 7.667.70c; March
7.757.80c; April. 1 T. 75 ft 7.80c. Total
sales, 6300.
BRT
Butte C & Z.
Butte & Sup.
Burns Bros...
Caddo Oil ..
Cal Pkg-
Cal Petro . . .
do pfd ....
Can Pacific .
Cen Leather
C de Pasco. .
Con Textile .
Chan Motor
Chi 4 N W. .
do pfd ....
Chili Cop ...... 6,600
Chino BOO
C M St P 3,700
do pfd 4,100
Coco Cola 600
C & 0 1.400
Colo F & I
Colo Southern
Col Gas & Eleo.
Columbia Graph
Con Gas
Cons Cigars.'..
Contl Can
City S Banker. .
Corn Prod 2.400 120
500
1,600
2.400
8.000
300
40
11
64
94
19
24
30
34
53
70
77
30
136
'82
63
95
148
41
40
11
63
93
18
24
30
34
63
69
76
600 105
700 3
4.100 143
600 38
2,100 92
Cosden Oil 5.600
3,100
300
100
5,400
i.Vo'6
100
400
C R I & P
do "A" pfd. . .
do "B" pfd. . .
Crucible
do pfd
Cuba Cane
o pfd
Cub Am Sug . . .
Del & Hudson . .
Dome Mines....
O L & W
Davison Chem..
Sndicott John.
Erie
do 1st pfd. . . .
Elec tor Bat. .
Famous Players
Fed M & Smelt
do pfd
Fisk Tire
Gen Cigars
Gen Elec
Gen Motor
do 6
Gen Asphalt. . .
Goodrich
Gliesen O & P. .
Gran by
Great Nor Ore..
do pfd
Greene Can . . .'.
Gulf S Steel...
Glen Alden
Houston Oil. . .
Hupp Motor. . . .
Ills Cent
Inspiration. . . .
Interboro
do pfd
Inter Callahan.
Int Harv
Int M Marine..
do pfd
Int Nickel....
Int Paper
Invincible Oil. .
Island Oil
Jewel Tea.'. ....
K C Southern . . ,
do pfd
Kelly-Spgfld . . .
Kennecott
Keystone Tire..,
Lack Steel.......
Lee Tire
Lehigh Valley... 9.500
Lonllard
Loew Theaters..
L & N
Lima Loco
Maxwell Mot A.
do B
May Stores
Mex Pet 6,000
Miami 100
Mid States Oil... 2,200
Midvale Steel
M K & T Wt.
do pfd Wi.
Mont Power. .
Mont Ward...
Mo Pac
do ptd
Ilex Seaboard.
49
48
99
88
96
ii" "
38
26
500 135
1,200 39
1,200 137
"VoO 89 "
1.600 16
400 26
1,200 48
1,200 102
"i.'soo 'ei"
200 12
300 81
100 180
31.400 16
500
6,100
100
200
100
1.300
3,100
200
100
200
8.900
900
200
100
3. 700 '
300
300
1,000
500
1.000
1,000
900
85
68
35
15
32
40
95
83
S3
'84
21
114
42
10
112
14
57
17
60
14
116
104
92
122
32
135
114
57 58
65 65
36 36
115 115
78 78
25
6
29
136
10
84
63
95
148
41
40
11
64
94
18
24
30
34
53
70
76
32
49
105
3
141
38
91
20
119
49
47
98
88
95
98
13
38
25
135
38
135
49
88
16
25
48
102
15
60
12
81
180
14
84
68
35
15
31
40
84
32
82
60
83
21
9
112
13
56
17
105
3
142
37
90
iio"
48
47
99
88
95
"is
38
25
135
39
136
'88
16
25
47
101
'59
12
81
180
14
85
68
35
15
32
40
94
32
83
'83
20
113
42
2
"9"
112
14
66
1&
59
14
Penn Seaboard
Pr Steel Car
Pullman, ...
Ray Cons...
Reading ....
Remington . . . .
Replogle Steel..
Republic I & S.
do pfd ,
Rep Motors
Roy Dutch Oil..
Ry Steel Spg
Stand OH Ky
Sears-Roe 1,700
fahatt, Ariz
Shell T & T
Sinclair 1.000 34
Stand Oil Ind 119
do N J 1.800 187
Sloss Shef 200 50
So Paclflo ...... 2.200 94
So Ry 1.100 27
S O Cal 5,700 116
StLiSP 20O 30 74
Stromberg Carb. 800 68
Studebaker 6,400 133
Swift & Co
Tenn C A 0 200 10
Texaa Oil 4,300 49
Texas Pac 500 32
Tex Pac C & O. 600 26
Tob Products ... 1.000 68
Tran Con Oil.... 1,500 15
Union Oil Del... 1,300 18
Union Pao 4.200 163
United Alloy
united LJniar . ' too R274
Uni Food Prod.. 400 6
United Fruit . . . 600 154
Union Bag & P. 100 76
U S O & L P. ... 800 34
Uni Retail St... 5,000 85
U S Ind Alco... 1,500 6
U S Rubber 4,000 67
do 1st pfd 900 103
U S Smelting
U S Steel T.600 105
do nfd mo im
Utah Copper 600 70
Va Chem 100 29
do pfd ....
Vanadium Steel.
Vivandou
Wabash
do A pfd. ; . . .
do B nfd
Wells Fartro
West Pao
do pfd
West Union ....
Westing A B...
toEill 1.100
West Md 3.400
White Motors... 1.200
Willys-Overland. 600
do pfd 300
Wilson Packing. - 200
wis ijentrai
Woolworth
Worth Pump.... 200 44
W & L E 200 14
White Oil 6O0 8
W Eagle Oil.... 0O 29
Orpheum 000 23
27
11
4
83
48
58
81
76
46
93
38
33
54
11
7
70
39
7
89
135
16
81
39
33
69
92
3
58
119
108
90
34
118
184
50
94
26
114
30
56
131
io
48
32
26
68
15
18
151
82
6
154
76
83
83
65
56
102
104
121
70
29
500
300
400
4,800
300
30O
51
1.1
13
34
19
63
200 119
100 101
64
16
50
1
45
47 .
51
12
13
33
19
63
119
101
64
16
60
, t
45
46
44
14
8
29
23
78
98
93
3
6
2T
10
3
81
48
68
81
77
46
93
an
32
s54
11
70
7
89
135
16
81
39
32
69
2)4
3
58
119
109
91
' 8
40
34
119
184
ou
94
26
114
BO
56
131
107
10
48
32
26
68
1
18
-to 9a
38
82
6
154
76
34
65
00 :i
102
42
104
121
70
281-
65
51
12
13
34
23
7H
19
63
119
100
64
36
49
7
45
46
31
1,85
44
14
29 51
23
Liberty Bond Quotations.
Liberty bond and victory note quota
tions furnished by the Overbeck & Cooke
company or Portland:
Open. High. Low. Close.
Liberty 38... 100.90 100.90 100.84 100.78
do 1st 4s 100.40
do 2d 4s 100.16
00 1st 4s.. 100.70 100.70 100.60 100.64
do 2d 4s... 100.26 100.30 100.22 100 22
do 3d 4s.. 100.22 100.30 100.22 100.22
do 4th 4s.. 100.66 100.74 100.64 100.66
Vict y 4s call. 100.30 100.32 100.30 100.30
do 4s 1923.100.70 100.70 10a70 3,00.70
Money, Silver, Etc.
NEW YORK, Sept. 9. Foreign bar sil
ver, 69. -Mexican
dollars, 53.
LONDON, Sept. 9. Bar silver. '35 d
per ounce. Money, 2 per cent. Discount
rates: short and three months' bills, 2
per cent.
Excess Reserves Increased.
NEW YORK, Sept.. 9 The actual
condition of the clearing house and trust
companies for the week (five days),
shows that they hold $33,704,210 in ex
cess of legal requirements. - This is an
increase of $7,541,020 from last week.
Swift & Co. Stocks.
Closing prices of Swift & Co. stocks
at Chicago were -reported by the Overbeck
& Cooke company of Portland as follows:
Swift e Co 108
Swift International 21
Libby, McNeil & Ubby 1
do new i -ft
National Leather, new 7
Standard Oil Stocks.
Standard Oil ' stocks furnished by the
Overbeck & Cooke company of Portland:
w
ANTED
HUNDREDS of thousands of people with surplus
funds have their money remaining idle because
they do not know how to use it to obtain the maximum
earning with safety.
There is yet opportunity to loan to America's foremost
corporations your funds secured by first lien bonds
yielding 6 to 7 and in some instances in excess
of 7. ARE YOU GETTING 6 TO 7 ON YOUR
MONEY?
Prosperous municipalities towns, school districts,
irrigation districts, etc., constantly require money for
needed improvements. These are "little govern
ments." In the matter of security these bonds rank
next to those of our states and government. They
will pay you up to 6 and even as much as 64'
for the use of your money and are INCOME
TAX EXEMPT. OTHERS ARE OBTAINING
THIS TAX FREE RETURN ON THEIR MONEY.
ARE YOU?
Call on as.
Write as. Telephone as, Broadway 5740.
Yoa will incar no obligation.
L Freeman, Smith &
Camp Co.
Lumbermen- Bldo Portland
Isle Royal 2 24
South Lake 45 46
Supp Boston 1 1
United Shoe Machinery.... 41 41
do pfd ze it
South Utah 5 10
Superior Cop 4 5
Trinity Copper 1 1
Tuolumne 68 vu
Utah .Metals 1 1
Utah Con 2 8
U S Mining 42 43
do pfd 4.1 -Hi 4il
Utah Apex 2 2
Ventura 28 29
Victoria , 1 1
Winona l l
Wolverine 10 11
Wyandot 60 75
Shamran 85 90
Foreign Bonds.
Furnished by Overbeck & Cooke com
pany of Portland:
Bid. Ask.
Belgian rest 6a 1919 68 70
tlo prem oa 1920 68 73
do 7s 1945 105 105
do 6s 1925 99 100
Brazil 8s 3041 102 102
do 7s 1952 91 92
British 6s 1922 90 92
do 1927 92 94
do 1929 92 95
do Vky 4s 1919 78 80
do ref 4s 1919 79 79
K !Us . 1922 100
do 1929 107 108
Bordeaux 6a 1934 82 63
Canadian 6a 1928 100 100
do 68 1927 98 100
do 1929 102 102
do 5s 1937 99 100
do 1931 100 100
Chinese 5a 1951 68 64
Chile 8s 1941 103 104
French 4a 1917 47 49
do 5a 1920 66 69
do 1931 58 (10
do 7a 1941 98 99
do 8s 1943 101 102
German W L 8a 60 61
Berlin 4a 70 90
Hamburg 4s 70 1 12
do 4s 80 112
Lelpsig 4a 60
Munich 4s 70 125
Frankfort 4a .... 69 60
-Italian 6s 1918 35 36
Jap 4s 1931 81 82
do 1st 48 1925 94 95
do 2d 4s 1925 93 94
Norway 8s 1940 112 112
Swedish 6s 1939 105 106
Denmark 6s 1945 99 99
Denmark 8s 1945 99 99
do 8s 1945 110 111
Russian 5s 1921 12 Id
do 1928 ... 2
do 68 1919 12 16
Swiss 5a 1929 104 104
do 8s 1940 121 121
German bonds quoted in dollara and
Bid.
20
455
97
-.195
110
144
Anglo -
Borne scrysmer . . .
Buckeye
Cheesebrough . ...
do pfd
Continental . .....
Crescent 3o
Cumberland 160
Eureka , 95
Galena com 55
Galena Old pfd 108
Galena New pfd 103
Illinois Pipe 170
Indiana Pipe 96
National Transit 26
N Y Transit .177
Northern Pipe 107
Ohio Oil 285
International Pete ...222
Penn Mex 28
Prairie Oil 605
Prairie Pipe 265
Solar Ref rig 345
Southern Pipe 95
South Penn Oil 207
W Penn OH 3
S O Indiana 119
do Kansas o30
do Kentucky 109
do New York 450
do Ohio .450
do pfd 118
Swan & Finch 32
Vacuum 469
Washington 21
S O Nebraska ..180
Imperial Oil 112
Ask.
20
405
08
205
113
146
37
155.
98
59
112
105
172
98
27
180
116
290
223
30
615
268
355
9T
213
64
119
540
110
453
460
119
35
472
25
15. .4
no
Mining Stocks at Boston.
Mining stock quotations at Boston fur
nished by the Overbeck & Cooka com
pany of Portland:
Bid. Asked.
Aria Comm 8 9
Adventure SO 100
Ahmeek 64 65
Allouez 2d - 26
Arcadian 2
Bingham Mines ............ 18
Cal & Ariz '. 61
100 25 25
900
1,200
2,200
200
400
44
37
8
79
26
72
100 180
3.000 19
2.100 141
4,600 64
"hob 'ii"
400 134
13
?9
13
34
19
48
"23 '
23
62
18
900
2,800
1,600
2,366
1,200
7,300
2,809
44
37
8
79
25
71
179
19
139
62
'i8
134
190
29
13
34
19
47
'22
22
60
18
14
16
25
57
-44
37
8
79
25
71
179
19
140
64
57
18
133
190
29
13
34
18
47
72
23
23
61
18
Calumet & Hecla 290
New Corn 18
Centennial 9
Copper Range 43
Davis Daly , 4
East Butte 10
Franklin Mining 1
Hancock ... 2
Helvetia 1
Island Creek 108
Keweenaw 2
Kerr Lake ................ 8
Lake Copper 4
La Salle 1
Michigan 2
Mass Con 2
Mohawk 60
May-Old Colony 3
Mason Valley 1
North Butte 12
Nipisslng 6
North Lake 30
Old Dominion Copper 24
Quincy Mining 41
3
18
62
296
19
10
43
5
10
o
2
1
109
2
4
4
3
3
62
4
o
12
6
50
Suggestions
investing
$100
for
jtmutmiwwiiinnuiiuiiiuiintiiuiuuiiiuiiiiiniiiimii
CHAS. W. ERTZ CO.
627 PITTOCK Ill.Ot K
COMPLETE
BUILDING
SERVICE
Free preliminary
aketchee and eatlmatea
on commercial bulldlnga.
We can assist you
In financing
ARCHITECTURAL DESIGN
BUILDING CONSTRUCTION
No obligation
incurred in
seeking
information.
Phone Main
4195, or
write us.
To that large class of people
who cannot afford to lose on
investments and who desire
to invest modestly and secure
a higher return, we offer Farm
Mortgage Bonds to Yield
7 V2
G-ErMIILER & COMPANY
Portland
Seattle
Second Floor X. W,
Bank Bids;. PORTLAND
, Los Ana-elra
9. r raaclKa
Phone Main 4195
OVERBECK &
COOKE CO.
BROKERS
Members C Mrngo Hoard of Trad
Board of 't rade illda;
Portland.
Pendleton, Walla Walla.
Or. Wash.
We Will Sell:
15 J. 1. Hartman Redeemable Pfd.
10 Multnomah Lumber & Box 10
Pfd.
10 Northwestern 'Electric 7 Pfd.
20 Oregon Portland Cement Pfd.
5O00 Penn Pacific Oil.
20. P. R., & P. Prior Preference.
50. Portland Vegetable Oil.
25 Western Bond & Mortjfiup
Prospective InTestorn will find it to
their advantage to consult our price
on the above securities before mak
ing purchases.
We Will Buy:
25. Fidelity Security Corp'n,
10 King'a Food Units.
50 . Morgan Building Stock.
lO.Vacific Power Si Light Pfd.
25.1'ortl:ind Gas Coke 7' Pfd.
2b Pacific Stales Fire Inaurauee.
!iiiilillll!l!iillil!!HII'IISin!ln
i;i:i!iii!ii;iii.:i':iiiMiiiiiii;iii::li:ii:i:;
OftOAH -WENTWORTH &
Htni'M s. Rhodes. m
STOCKSANO BONDS)
S01-3 Railway Kx-l:nKi Iildg.
Broaawfey 476.
Municipal Bonds
EXEMPT FROM FEDERAL INCOME TAXES
Rate
Sherwood, Or., water '6
Port of Toledo, Oregon 6
Umatilla County, Or., school 512
Union, Oregon, water. . . : . . 6
Weston, Or., improvement. 6
Wilder, Idaho, water 6
Cascade, Montana, L. I. D.. 6
Deer Lodge, Mont., L. I. D. . 6
Winnett, Montana, L. I. D.. 6
Due
1933
1933-39
1942
1933-37
1924- 28
1930-40
1925- 29
1929-30
1927-28
Yield
5.25
5.25
5.10
5.40
5.30
6.00
6.00
6.00
6.00
Western Bond & Mortgage Company
Fourth at Oak Street Portland, Oregon
Telephone Broadway 6464
Direct Private Wlrea to
LOGAN & BRYAN
Acir York and Chicago,
MKMHtHS
New York Stork K chance,
f'hlcajro Mnk Kir ha nice.
Boston Stock tirbingf,
hlcairo Board of Trade.
IV ew lork Cotton Kirhinff.
New Orleana Cotton Ksrhanga,
ew It ork Produce Kirhanie.
Winnipeg Grain Kxchange,
SUCCESS
la the stock Market
FORTUNES
Slade From Small Invratmenta
Writ, tor Fr. Booklet.
The Mont Pimple Kiplanatlna of
Profitable btork Trwllna.
TOe e;narantea ynu that your money
Is safe and that you fat a Kiuare
deal.
Kennedy & co.
74 Broadway, .ew York
Members Conwoltdftted Mock
Kxcliange.
ORGANIZING A
COMPANY?
Save the usual Incorporating ex.
FenRei. feea and tux's by form
ngr your organization on the
regulation COMMON UW PLAN'
under a DKCLAKATIO IS OF
TRUST. Kduce expense of or
ganizing and conducting your
company to nominal figure hy
takina; advantage of our rom
jjlete organization iiervlco. Write
us for full particular.
Organization Service Co.
2MI l-lrat .Vntlonal Hank Hl'IiC
San Krant'laro. Cnl.
IjijillilijjilliillllillilHjj'iHiiiliiHliiiiliNi
Organizing a Company?
Save expends and taxea bv or.
ranlzinir on the papular. COMMO.V
I. AW plan unW a pure PKCLA RA
TlOX OK TRUST. Ajiym, any
where, ran fill In T'EilARKB
STANDARD FORMS. laiut ihani
and bKiri doing bunlnefis at one.
Inslt upon DEMARtB FORMS, the
original, natloiiully-accepted forma,
approved and ud by WAll-known
attorney. fend for laraa, free
fiamphlet tT-2) eonta'nlnir much
reformation that you will need. o.
S. DEMARttE. Legal Ulank Printer.
T08 Walnut, Kanaaa City. ilo.
GERIMAN BONDS AND
MONEY
Bought and Sold
TRANSATLANTIC ESTATES a
CREDIT COMPANY,
J HO Exckaaga ld(, S4 itaifc.