Tllfc SUNDAY OREGOXIAX, POiiTLAXD, OCTOBER 8," 1923
23
A
V
STOCK MOMENT
IS 1EGUU 01
V. Price Advan&es About Bal
anced by Declines.
t
WAR TALK DISAPPEARING
Developments of Week Indicate
Confusion of Judgment; Bond
Market Improves.
By Chicago Tribune leased "Wire.)
NEW YORK. Oct. 7. If the action of
today's various markets were to be judged
according; to the relation of the various
movements to Important aspects of the
general situation the renewed advance in
sterling exchange - and the strength of
wheat prices would be first in interest.
Neither market touched the high level of
the week, but sterling ended the week
with a 52 -cent rise for the week and
wheat, selling 9'tc a bushel above the j N Y Tel 6s
price of barley three weeks ago and
measurably above the day preceding, in
dicated the presence of other forces than
the now disappearing "war talk."
If the week's strength In exchange
points to a better state of things in
Kurope, so the recovery in giain prices
on legitimate grounds is an- important
factor in our own situation, both eco
nomic and political. While exchange on
PMris and London rose, the German mark
fell today to another low record price.
Measured in hundredths of a cent,- it
touched 4)4. as against the five of the
4. AugUBt currency panic.
Nothing came to light by way of ten
ctenies in today's stock market, except
repetition of the purposeless bidding up
and selling down of speculative stocks
by professional speculators. The day's
net changes were about equally divided
between advances and declines. The
more Interesting comparison Is with the
iflnal prices of a week ago. The uniform
and in many cases emphatic recovery
indicates the retreat from an overdone
speculation for the decline. But the last
two or three days have shown nothing
but confusion of judgment.
In the bond market also the week has
been one of distinct recovery, which has
affected IJherty bonds, along with oth
ers. Those bonds have moved wholly
line with ideas or expectations regarding
the treasury s forthcoming announce
ment of the terrtis of the new refunding
loan. Knowledge, of the actual terms,
which will not now be long delayed, pre
sumably will affect the market favor
ably or otherwise, according as the new
capital solicited is less or more than the
II. 1)00, 000. OOO lately rumored, and ac
cording jw conversion of 'maturing Vic
tiry bonds into a longer term loan is or
is not a part of the proposal.
The bondo'l Economist's monthly aver
age of English commodity prices, pub
lished today, was interesting chiefly a
showing the opposite movement of such
prices in Kngland and in this countr
On our own average it has been rising
slowly, and practically without interrup
tion during IB months. Jt is now nearly
1ft per cent above the low point reached
in Jun-e of 1021. The London average,
on the other hand, has been falling
pretty consistently during the same pe
riod; it now stands 4?4 per cent below
last August and 14 per cant below Oc
tober, 1921.
In a measure -this undoubtedly reflect?
the merited, recovery of the pound ster
ling toward Its gold parity and the con
tinuance of "deflation,-" On October J
out own prices had Acer, brought down
4-0 per cnt from the post-war maximum
England's are down .10 per cent. But
comparison with 1014 s-hows our own po
sition of advantage. The Bradstreet In
rlax number makes our present average
83 H per cent above the pre-war month.
The Economist average shows England's
prices to be still neerl" Aft- per cent.
Oil. DIVIDKNDS STIMl.-J.ATE MARKKT
St L-S P pr 1 4s
St L & S P pr 6s C
do adj A 6s.
St L-S F Income A 6s...
St L Sthwst 1st cn 4s...
SAL adj -5s dus 10-1...
SAL ref 4s
do 1st and ens 6s A
S P Co C P col 4s d 8-1..
S P S P Term 4s
So Pac 1st ref 4s
U P 1st and id art 4s
do conv 4s ............
Wabash 2d 5s
W M 1st 4s ....
W P 1st 5s
do 1st mtg 6s B
Miscellaneous
Am S & R 1st A 5s. . . . ,
Am S R Co 6s
Am Tel sr T conv 6s
Am W W & E cl tr as...
am m I -1st os .........
Armour 1st 4Hl .........
Art Fruit 7s
Atl Refin 5s
B S 1st extd 5s .
- do p m & im Gs
Cal Gas Uhf 5s .
Cde P C conv sf 8s
Chic Rys 1st 5s
Chile Cop 6s . ,
Colo P & I gen 5s ...
C C 10-yr cv deb 7s. . . .
CCS cv deb 8s tern
Dist Sec 1st cv 5s
duPont 10-yr.' ThiB ,
Dusquene 6s
Empire G4T 7a
Goodrich 8hi
Goodyear 8s
do 8s
Holl-Amer Line 6s
Hud Sc. Man ref 5s ...
do adj 5s
Humble O 5ts
Inter Metre 414s
Oo ctfs . . . i
IRT 1st & ref 5s
-do 10-yr sec cv -7s
IMM 1st & coll 6s
IP 1st rf 5s B
Liggett A Myers 7s .
Lorlllard P deb 5s -
Ml 5s
X CTigland Tel 5s
N Y Edison 6S4S
N Amer Ed 6s
PG&E gen&ref A Ss
Pac Tel 5s
do 'GS
Sinclair cv 7hi
do 7s
do C 4D 5s
S O Cal 7s
Third Ave adj 6s
XJ S Rubber 5s A ...
U S Steel sf 5s ... . .
Virr. Caro Chem 5s .
VCC 1st 25-yr 7s A..
West Union QhiB -.
Wilson 7V4s
Winchester 7hia
.Curb
Allied Packer 6s
A T & T 6s
Anaconda C M 7s
Anton Jungens 6s ...
Armour 7 notes ....
Baragua Sug 7 ha ....
Beaver Board Ss
Beth Steel Equip 7s .
Brooklyn UO 7a
do (Is
Canada SSL 7s .',
do N R 7s
Canadian N R 5s
Col Graph 8s
Clev I'n Ter 5W-S
Cons GEL tPB 6s ...
Cons Textile 8s
Copper Ex 8 nts .
Goodrich 7s
Grand Trunk flis ....
Gt W Power 5s
Inter KT 8s
I & G X Rv 5s
Kan G & E 6s
Laclede G L 7s
Magna Copper 7s .. ...
X Y N H & H 7s
Pacific Gas 6s
. !4:
. 11)63
. 1!23
, 1047
1036
. 11)31
1941
1039
1924
1920
. 1947
1B30
1939
1032
1935
1932
. 1947
1947
1935
1B25
1925
3 972
.1949
1941
1925
1925
1936
1946
ioii
1925
1929
1 932
!)2."
1941
Phillips Pet 7Hs 1931
. 19--6
. 1928
. 18--.5
. I960
. 1932
. 1S)4
. 1959
. 1945
. 1949
.. 1.T0
. 1955
. 1947
. 1927
. 1939
. 1952
. 1948
. 194S
. 1B47
. 1937
. 1925
. 1931
. 1939
. 1939
. 1934
. 1937
. 1926
. 1936
. 1937
. 19311
. 1927!
. 1392
, 1942
. 1930
. 1930
. 1927
. 1931
, 1949
, 1937
1947
1941
1931
1941
1957
1957
1 932
1956
19S6
1932
1941
1947
1944
1951
1924
1952
1941
1941
19.12
J 942
1937
1952
1925
1937
1925
1931
1960 62 54
74
102
81
69
78
28
4414
es
8SS
M
84 hi
93?4
9.1
8214
06
85
S9
95
102 H
117
89 "4
86
SO
35
99
94
94
9714
124
81
-64
1
89',,
81
53
108 hi
94
102 H
1154
99 4
kZhi
86
62 hi
99
16
16
72
88
93
81 "4
11714
88
904
89
lilt,
106 '4
05'.
84
08
93
110
101
1)1)
BET CHANGE SILL !i
Trend Follows Closely News
From Abroad.
105
Rapid Advance in Prices During; Week at
New Tork.
NEW YORK, Oct. 7 Declaration of
stock dividends by the Standard Oil com
panies of California and New York pro
vided the Impetus for a rapid advance In
prices m this week's stock market, the
averages showing a recovery of approxi
mately 7j per cent from the recent
action.
The course of the market confirmed
the prevalent impression that th reac
tion, while coinciding with , news de
velopments in the near east, was largely
a readjustment of a weakened technical
position. Trading was largely in pro
fessionat hands, although the behavior
of certain stocks attracted an outside
following.
While the domestic situation continues
to Improve, the foreign situation is still
a cause for concern in the financial com
munity. This was evident by the spe
cial stress placed upon it this week at
the convention of the American Bank
ers' association, which drew more than
10,000 persons from all sections of the
country. While banking opinion Is di
vided as to the advisability of cancelling
all or part of the allied debts to the
United States, it is largely In accord with
the theory that an early solution of .the
German reparations problem Is essential
to Europe's economic 'rehabilitation.
nomestic business is encouraging.
Freight car loadings have now reached
nearly the highest total in history, an
thracite and bituminous coal production
is steadily Increasing, steel producing is
approximately at 75 per cent of capacity,
or at the high mark of the year reached
in June, commodity prices are tending
upward, the demand for commercial
credit is growing, factory operations are
on a larger scale, and the number of un
employed is constantly growing smaller.
The car shortage, however, has a re
straining effect on business expansion.
The extent of building activity in the
last year is strikingly illustrated In sta
tistics compiled by the .Copper and Brass
Research association, which estimates
the total consumption of copper in the
Industry this year at 150.000.000 pounds,
an increase of 100.000.000 pounds over
1921; 06.000,000 over 1820, and 73,000,000
over 1919.
Announcement of stock dividends by
the Standard Oil companies of New York
and California calls attention to other
lafge surpluses In tne aianaaro. uu
group. The Atlantic Refining company
has $50,000,000 stock outstanding. w::e
Its surplus at tne cioss ot i" wa
708 049. Huge surpluses have also been
accumulated by the Ohio Oil company,
Tr.irle Gas company. Standard Oil of
Indiana and other companies.
Public Ser Corp
ttears Hoe 1 s . .
So Cal Edison 6s
Southwestern B T 7s .
S O of N Y deb 6V4s ' . .
S O 7 ser note
Swift S- Co 7s
Union Oil of Cal his . .
United Oil Prod 8s . . .
V'alvoiine Oil 6s
Va-C C 7 Vis A
Brazil 7 Us
E"b-rfi Id 53
Pra 17 Vis ,
Hambur? 4 a
Mexic ) 4
Montevideo 7s
Jugo-Slsvia 8s
Switzerland 5 s
Anacenda Copper 6s ..
Anglo-Am Oil 7AM ...
Copper Ex Assn Ss . . .
Ga!enaSlgnal Oil 7s .
Gulf Oil Co 7s
Inter Rapid Tran 7s . .
Southwest Tel 7s
Stand Oil N Y 7s
Swift & Co 7s
Foreign Government
Argentine 7s
Belgium 8s
Rolivia 8s
Brazil 8s ,
do 7s -
Canada 5s ,
do os
Chile 8s
Czecho-SIovak Ss
Denmark 6s . .
Dutch East Indies 6s.
do 6s
French 8s
do 7 hi
French Cities 6s
Japanese 1st 4. Via ....
do 2d 4a
Mexico Eternal 5s.....
do 4s ,
Netherlands 6s
Paris-Lyon-Mdtrn 6s . .
Rio de Janiero 8s
Seine 7s
Un King Gt. B & I 5
do Zhia
do 5Vs
1941
. .. 1923
... 1944
. . . 1925
. . . 1913
... 1931
. .. 1931
. .. 1942
... 1931
. .. 1937
. .. 1937
. . . 1952
.1932-52
... 1952
... 1945
. .. 1952
. .. 1962
. . . 1929
. 1920
. 1925
1927
1941
1947
1941
1 952
11)31
1 952
1946
1951
1942
1947
1962
1945
11)41
1934
1925
3931
3 954
1954
1972
1958
1947
3 942
3 937
3922
1D29
81
302
1004
98 Vi
112
107
103
77H
10114
103
80 Vi
104
98 V,
73
102
115
104
110
111
99 H
3414
3 05
105
99
103,
3 02
100 V4
93
911
07
77
101
312
84
104 ,
47
303
101
102
103
3 09 V.
302
3 02
301
99 M
301
9714
80H
1
SI
61
39
92
89 V4
3 04
301
108
301
1 or.
103
100
102
100
101
3 02
13
97
102
90
99
99
104 !
94
1)8
96
95
100
97
81
93
80
53
39
95
74
99
88
103
99
107
TWO BIGT FACTORS LOOM
Government's Proposed Refund
ing Operations and Foreign
Situation .Carry Weight.
Bank Clearlncs.
Bank clearings of the northwestern
cities yesterday were as ' follows: .
' Clearings. Balances.
Portland . . .$il.."il:.74t. $ 407. .".70
Seattle 0.o!Hi.8tH 1,278. 4"
Spokane J,7tf.JaJ Gr.4,.tn3
Tacoma Transactions 2.1WU.O00
Clearings of Porthtjid, Seattle and Ta
coma for the past week and correspond
ing week in former years were:
Portland. Seattle. Tacoma.
1922 43,0S9.SJ8 $33,628,172 S17, 086,000
ltt21 34,1U0,4!2 l!!J,irS4,004 4,704,140
lO-'O 43.o03,893 40,917,4rtf 4,7!K),45
1919 43.84,710 44.427.52:, 5,108,84
1918 30.K30.082 37,6."2,1 !t -4.sy,274
1917 23,717.trtr. o,70S.lt x3.4S4,5tH
1916 18.764.SU5 17,84,718 L'.tt.-7,K70
1915 14,140,233 12.74.--tl. 2,ir,343
1114 12,373.068 13.321,016 2.077, 0K
1913 3 4.96o,S l.-,743,0l 2.323, 1 4
1912 l.".,3-'i9,8S8 16.092,003 4.7::4.4V7
1911 13,00o,7r5 12.910.506 4.633. tMi4
1910 12.013.302 12,102,931 5,724,987
Transactions. '
New Tork Bond.
Furnished by Jordan. Wentworth
- Co. of Portland:
Railis
A T & St T pen 4a
B O conv 41is
do 8s
Can Pac 4 deb stlt. .
Cent Pac 1st 4s
Ches & O con 4Hl
do 0s
Chic & Alton 1st S
Chic & Burl Q Sm.
Chic & E Til . .
Chic Gt W 1st 4s
Chic Mil & St P 4s
do cv 4 H
C R I i P 1st ft ref 4s
Cuba R R 1st 5
1. & Hud 1st 5H
P A R G lit & ref 5s
Krie 1st gn A cv 4s
iit Nor Ts ser A
do 5H ser B
G B ft W deb B ctfs
Ill Cent ref 4s
1 & X adj mtg 30 yr
g fts ser A
K C P S & M ref 4s
K C S rf Imp os due Apr 1 in.v
i, s M S deb 4i
f.ong Island deb
1 & X 1st rf r A.
M & St I, rf A ext A 5. . .
ili.n S P & S S M 10 yr col
tr g Cn...
Sf K A T 1st 4s
do .s ser A
do fis ser C
do 5s cm adj ser A
M P gn 4s
do 1st & ref 6s ser r...
N O T A M non-ci:m 5s....
N V Cent cv deb (is
X Y C H R rf ft Im Si p.,
N Y X H H cv deb 6s
X TV cv rts due Sept 1 .
Xor Pac p 1 4s
X P ref A Imp B s
Oft. ens 1st gtd 5s
O XV" ft Xav 1st ft ref 4s. .. .
Penna R R R K A 4 ,.-....
do B Ks
P ft K Income 4s .
Per Mar Jst A 5s
R Co A P R C i. sea 4s.. 1997
1 995 PI k
10.13 83
1920 102
it4
1930 89
1943 97 W
1950 32 H
1071 101 H
3951 84
19.-.9 5 1 h
Wi 84
1932 72
1934 85
1952 8T
1937 101
1955 51
19."3 51 S
1938 112
1952 103
.... 13 U!
1955 90
1952 53
1936 81
1950 93
1928 95
1937 84
E00 3 105
1962 44
1931 IM
1 99f S3
1962 8
19.t f7
197 S
3975 rt
1949 101
1 915 77
1935 106
2013 89
1948 82
1929 119
1997 89
2947 10ft
194 3 04
1 91 S3 N,
19R5 92 H
19fil 101
1 999 S5
3 958 9ft Vt
1997 ofc
COTTON MARKET UNDERTONE FIRM
Prices at Close Are Unchanged to Fire
Points Higher.
(Bv Chicago Tribune Leased Wire.) "
NEW YORK, Oct. 7. The cotton mar
ket's undertone was firm after early
uncertainty today, and after an abbre
viated session In which business was
rather dull, closed unchanged to net 5
points higher. The opening was nar
rowly irregular at (J points' decline to 5
advance. Buying power had increased
considerably, it was evident early, and
shorts were uneasy as to the week end.
What selling there was in the market
was caused mainly by conriictmg ad
vices regarding developments Jn the near
east. First-hour gains amounted to 15
to D3 points, but the market slipped off m Na Bank portianj
BY BYRON SELLER,
- (Copyrig-ht, 1922t by The Oregonian.)
NEW YORK, Oct. T. The investment
markets of the week continued under
the sway of news from abroad. Un
doubtedly the continued discussion about
the future of the money market and
speculation es to the government's pro
posed refunding operations bad weight
with investors. But the fact remains
that quotations from day to day varied
directly as the foreign dispatches were
considered favorable or unfavorable.
Inasmuch as the balance of the week's
news pointed toward a peaceful solu
tion of the dispute between Great Britain
and Turkey the price trend was toward
recovery as that of the previous week
had been reactionary. And yet after
both the movements had run their course
tne net change was very small. If
anything, in the case of high-grade
bonds quotations were slightly lower
than when uneasiness was at first
aroused over the situation In Asia Minor.
If then we eliminate entirely the for
eign factors we find that the major
advance in the bond market, which be
gan some 13 months ago has apparently
halted. It seems, therefore, a g.ood time
to take stock of the general situation.
Business Demanding Money.
First, there is a elowly increasing de
mand for money for strictly commercial
purposes. This is certainly a good sign.
indicating as It does business revival.
It Is also reassuring as far as any ap
prehension as to a -permanently higher
rate for money Is concerned, to note the
great reservoir of available resources
in the federal reserve system. This
week'a statement shows the gold reserve
at the highest recorded figure. All legit
imate demand can probably be met with
only a moderate advance in rates.
Bearing also on the business outlook
is the fact that the American Railway
association reports for the week ended
September 17 showed that the number
of cars loaded with revenue freight was
within 96 per cent,' equaling the great
est on record.-Part of this was, of course,
due to increase in coal loadings, but
merchandise and miscellaneous freight
were also offered in much larger vol
ume. How far the railroads are going
to be able to meet the demands upon
them remains to be seen. Car shortage
showed a large increase In the latest
available weekly reports.
Ontloofc Is Encouraging. "
The unfavorable factors are. as. be
fore, the unsettled conditions abroad
and the low prices for farm products.
particularly wheat, at home. Dealing
with the former the frank discussion of
international problems by the American
Bankers' association this week was dis
tinctly encouraging.
As to farm prices It Is hard to see
how they can long resist the upward
tendency apparent in enterprise else
where. The bearing of all this on the security
market is not hard to interpret. Ap
proximate stabilisation around present
levels of quotations for the highest grade
of investment securities is indicated with
the market price of the second grade
and more speculative obligations direct
ly responsive to the outlook for the par
ticular corporation the securities of
which are under consideration. Certainly
there was nothing to contradict this
view in the price fluctuations of the
week.
Liberties Regain Ground.
Liberty bonds regained much of the
ground lost the week before, but were
still below the high prices for the year.
The best of the railroad and industrial
issues showed similar tendencies. Atchi
son general 4s and American Telephone
& Telegraph collateral trust 5s are ex
amples. The former sold between 91
and 92 all the week against a high for
the year of over 93 and the latter was
99 and 99 against a high of over 100.
It must be evident that only a change
in money market conditions can affect
the price of this class of bond. If the
government should be able to float its
new loans on expectedly favorable terms
the market for Itonds like these would
be stimulated. Otherwise there seems
no reason to expect any great advance
at present.
The situation is quite different with
low-grade and speculative bonds. Many
of these are 3 to 3 0 points below the high
of the year, in most cases without any
corresponding change in the final con
dltion of the debtor corporation. This
has been particularly the case with rail
road bonds.
Erie Bonds Decline.
Take the case of the Erie for in
stance. Both the general 4s and the
three series of convertibles, A. B, and
D. are selling several points below the
top price of 1921. Of course the Erie,
like all other coal carriers, suffered se
verely during the strike. But this does
not take into account the great improve
ment which may reasonably be expected
for the remainder of the year. The con
tinued payment of interest on. all these
bonds is just as certain today as it was
when the market prices of the bonds
were at the high earlier In the year.
In the case of the St. Paul the de
cline Is not so large, but there is even
less reason. The St. Paul's earnings,
while still leaving much to be desired,
show gratifying improvement.
No review of the week would be com
plete without some mention of the dem
onstrated ability to absorb new Issues.
The sale of the American Gas & Electric
additional issue of debenture 6s is a
case in point. Offerings continue on a
large scale. The totals for September
show bonds, notes and stocks Issued to
the amount of $282,351,000 against
$286,014,600 in August and 1 25 5, 68 1,200
in September. 1921.
h. Pulp ft Paper coin..
ao pra
eed Lumber com
eyerhauser Timber
Zellerbacb, Paper com
i do pfd
I Miscellaneous Stock
i Aero Alarm com..........
I do cd
Alaska Steamship. ....... .'.
A lacka Packers. ............
Albtrs Bros com
do pfd
American Chain com.......
do pfd
Amer Liquid Motor pfd. ...
American Nitrogen com....
do pfd
Amer Typefounders com. .
do pfd. A
Associated Eng Corp com..
. co pfd
Cientennial Mills
Coast Tire com
Connor Co. Syrup
Dennos Food of Seattle
do of Portland
Tenny-Renron C A C
Fairbanks-Morse com
do pfd
Federal System Bakeries...
Fidelity Security Corp......
Fisher Flouring Mills pfd..
Flifschmann Co pfd
General Petroleum com
do pfd
Goodyear T & R pfd Oal.-.
Gra ton -Knight AXfg com....
do pfd
Gt W W Livestock Units...
Hartman Go J L gen pfd. -.
do redeemable Pfd
Holt Mfg Co 1st Pfd
iaano uom t tuny
King's Food Prod Units .
Lilly Co. Chas H pfd
Luckel King ft Cake Soap ..
.iiorgan biag ;
Or Portland Cement Units..
Oregon Worsted Mills
Owl Drug Co com
do pfd
Pacific-Alaska Xsvigrtfon..
Pacific Power ft Foundry..
Pacific Coast Biscuit
Pacific Coast Co. com. v. . . .
do 1st pfd
do 2d pfd;
Pacific Portlsijd Cem-nt... .
Palm Olive Co. 7 pfd....
Parafinne Cos com........
do pfd
Portland Cattle Loan
Portland Feccier Co
Portland Realty Associates
Portland Ve? table Oil i
Reffigeretor Car Equipment
lteid Bros com
do pfd
Santa Crux-Portland Cem. ..
S perry Flour Mills com.....
ao pra
Skookirm Co com ; . .
do pfd
Superior Portland Cement..
Todd Shipbuilding
Utlon Oil of California
do Calif Associates.
Utah-Idaho Sugar
Wash Brick Lime ASP pfd
Western Auto f arts com...
do pfd
Western Auto Supply .......
Western Bond ft Mtg
Vcsum Wall Board com...
do pfd
no no
45 . 55
. 75 VO
, 125 ISO
360 400
87 95
97 102
1 : J
42 ?'3
; 82 87
i:;5 150
44 51
70 7fi
5 I'M
t5 10
00 75
32
... 20
.52 55
96 100
50 65
60 75
107 H 135
55 65
2" 4
2 3
35 . 30
47 - 52
02 S7
3 6
97 HX
97 102
97 105
1J5 119
96 9S
71 74
TO 55
90 7
60 67
8il' 0
85 95
8 90.
20 25
50 60
8fl 90
.100 115
42 45
8O HO
85 I'K
92 97
102 107
50 75
05 1 75
115 135
12 38
.70 40
25 26
90 98
!'7 102
20 23
2 87
50 65
L'O J'0
75
SO 90
30 20
90 96
- 87 93
95 97
40 t 51
14 100
fiO ' 7m
75 85
97 303
5 68
175 376
175 ' 177
n 5
15 25 '
11 12
7 ' 8
12 15
95 10,'t
50 75
fe-0 65
LIBERTY BONOS HHER
GAIXS OF 6 TO 14 POIXTS ARE
REGISTERED.
Foreign Issues Sligbtly Lower in
Jfew York Market; Remain
der of List Irregular.
NEWT YORK. Oct 7. Bond trdtB
was fairly active today and tha market
irregular. Forsign lssuea were 'slightly
lower on near-eastern news, while a tew
domestic surlties registered small ad
vances. Denver & Rio Grande Improvement -5e
and 6L Pinl general .Hs advanced 1
points over yesterday's quotations Colo
rado & Southern refunding 4)s. Brook
lyn Rapid Transit Ts. Atlantic Fruit 7s
and Zurich 8s advanced a point each In
the day's trading.
In the domestic list. Norfolk ft Western
convertible 6s declined 1H points, and
Great Northern 4hi and Texas Pacific
firsts lost 1 point, each. Atchison ad
justment stamped 4a. American Tele
phone convertible 5s and tnvtnclDie uu
8s each lost a point.
Notable recessions in foreign secur
ities were Mexican large 5s with 1
points loss and Marseilles 6s 1 point.
Liberty issues were mostly higher,
with gains of d points for the3Hs. 14
points for the second 44s and 10 points
for the third 4!ii.
Total sales, par value, were S7.D4S.ouu.
CLOSING STOCK QUOTATIONS.
Stock Quotations at New" York, fur
nished by Overbeck A Cooks company
of Portland:
Bales.Hlgu. low. tiu.
Pac Oil
Pan Am Pet ...
do -B"
Penna
Penna Sea Stel..
Peo Gas
Pei-n Marquette..
Philadelphia Co.
Phillips Pet. ....
Pierce Arrow ...
Pierce Oil
Pitts Coal
Pits W Va ....
Pressed Steel Car
PuntaAlegre
Pullman .......
Pure04l
Ray Cons .......
Readiug
Replosrle Steel ..
Republic 14S..
do pfd .......
Rep Motors
Royal Dutch OIL
Ry Steel STg ...
Saxon Motors ...
Sears Robuck . ..
Shattuck st Aria.
8.SO0
8.1"0
7)K)
l.H0
I.4'H
sno
I'OO
2l
1.41K)
2i H)
8n
1,1 oo
100
75
75
4X
W
(WW
S7 V
4!
14
7S
3d
s4 t 1J 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1 1 M 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 M 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 11 i 1 1 1 1 1 1 1 1 i 1 1 1 f 1 1 1 1 1 1 1 1 1 1 1 1 1 rf
7 74 . 3
taw 74-
4SI.
8
i 4 ;
!r. S74
4.1 S 43
US US
14 is 14 1
1 '
0 M. 0 4 I
8 hi ,
4UO 4SH
1.700 1SIK
3'JV.
1.200
2.1oO
7UO
11)0
300
Shell TAT
Sinclair
Slots Shef..
Sou Pacific. . . .
Sou Ry
Stan Oil NT.,
do Cal
do Indiana
800
1.200
100
1O0
.. .2S.SO0
354
7tH
!T
B7
3
8V4
12
4s
0
St
37
7
1.70O
lOUO
. 6W)
11.80 l'-'
J 3.)
4S 47 hi
12 - I'-'X
13 32 1
35'- 1
7SW ;
84 is I
87 ;
'.'
MW
"4 ;E
0
m1
3; hi 1
4i 1 5
3V iSS
Million Dollar Concerns
Sell Their Accounts Receivable
15
7i
34 -i
571,
87
8
5714
122
4
0
14
11
87
B.t".
ao .is
1 HO 13114
do N J 18.000 2SV, 2-'34 2Js
do Kentucky - 1151. 113. II1
ttLsS F 00 ;. 29 KB
Strom Carb 81W 5414 5
Studebaker 12.!)0138 181 1 13JS
-llllllllllllllHlllllllllllllllllllltlllllllMllllllllllllllllllllItllltllllllllllllll E
You vroulffnt think it! ou fcv VTobilt".
upposc.i that the more irrrspoiifib; con
cern sell their account to u rathT than
higher clas Wholesaicra and Manufac
turar. The fijpire below jrive too an ana1yi a
to the ratinfra of our Open Account cus
tomers in the January books ul Dun or
Bradstreet, and the respective volume of
account they nold u duririfr 1921 on our
"No Notice to your Debtor" plan:
Customers' Ratings Piircrie Per Cent
Il.000.0ti0 and over. .tR.f.T7.41. 5 20. S
Bid. Asked.
!14. 101V4
1004
A 1 hers Bros 714 s 1S42
Associated O 1st M 5s 1932
Am Power & Light 8s 1030 10014
Associate'd O 1st rf 5s 1D30 H14
Bdy-Yamhill big 714s. 1025 100
do 71is 1826 102
Calif-Ore Power 6s 10014
do 7 14 s A 108
Central-Pacific 1st 4s ..... so
do coi stocks 4s . lf)40 r,H
City of Astor.a 6s 1P27 100
do tts 1042 loo
City of Tillamook 5.. 1942 1O014
Der.ny-Ker.ton 8s li)20 100
Fed Telegraph 7s ... 1923 02
ao IB 1327 B2 .
Fed Petrol 1st Mtr 7s 10414
HTATSpokane 1st M3s .... 4
Idaho Powor 1st Ss 1)214
Mt Hood Ry Ss 1027 !)214
Morgan Bldg 7s 1026 07
NV Elec 1st Mtg 6s. 193H 100
Or-Cal 1st 5s 1927 9!14
Or R R Nav 4s 3 040 SI)
do 1st 4s 10.1t 3
Or Elec 1st Mte 5s.. 1936 r.0
Owl Drug 6 notes n
Pa Coast Biscuit 0s.. 1933 DO
Pa P & L 3s 1R30 0.14
do 8s ... 1B30 ins
Pa T ft T 5s MR7 09
do 5s 1042 93
do fls 1952 OO
Pittock Block 6s 1940 93
in of Astoria 5s 1023 96
Portland G & C 5s... 1940 V3H
do 7s 1940 10414
do 5s 19."1 92
S Idaho L ft P 7s 1025 01
So Pa 1st rof 4s in.v 8O14
do 20 yr cv 5s 1934 84
Rpeery Fl M 1st Mt r.s 1!;34 0814
Santa Cruz-Port C 6s . . . . 90
Union Oil Calif 6s 102
Wash I W L ft P 6s 1941 S3
Willamette V S 6s. . 1030 80
IOS
10014
102
103
101
100
9114
70
101V
10114
102 U.
101 14
.05
95
105 14
9S14
95
100
10114
J)M)
1)0
R4
5714
JUO
95
9414
JOB
99
9514
300
06
99
94 hi
10514
'93
94
SO '4
.17 14
100
Ofl
103
43
85
Stock.
Adams Express .
Advance Ktim .
do pfd
Agr Chem
do pfd
Ajax Rub
Alaska Gold ....
Alaska Juneau .
Allied Chem ....
Allls-Chalmers .
do pfd
Am Beet Sug ..
Am Bosch .....
Am Can Co
do pfd
Am Car ft Fdy.
do pfd
Am Cot Oil ....
do pfd
Am Drug Synd.
Am Hide ft Lea.
do pfd
Am Ice ........
Am Intl Corp . .
Am Linseed ...
do pfd ......
Am Loco
. do pfd
Am baf Has
700 83
62
8214
Jtt
5414
3714
68
154
114
84 X
67 14
1111
4414
4114
65 1
100 It
1871s
12114
2614
52
6hi
14
71
112
300 3794 364 8714
4.600 39 88 S874
900 394 384 3814
1,6110 1271, 1264 12614
2110 izv l'O xjvs
100 3914 3914
i",o6 "ie" "is
4W 14 H
"760 "8414' "8414"
400 67 14 57
i!900 "6514" "ii"
100 110 110
300 188 188
" 466 '27" '26
"ioo ""ik" "sii
Am Shp ft Com. 8,900
70U, 62
oo AOL
500 36
1.000 446
300 80
Pacific Northwest Storks and Bonds.
Furnished by Jordan, Wentworth ft Co.
of Portland:
Bank of California, N A...
iCittzeos State Bank
Can Bank of Commerce....
in the later trading, losing most of its
firmness,' but none of its steadiness,
which remained with it until the final
gong. Most of tho late selling came from
the south or local longs. -
Spot was steady, 5 points advance,
21.55c for middling upland.
Southern markets Galveston. 21.10c,
unchanged; New Orleans 20.88c, un
changed; Savannah 21.25c, unchanged;
Augusta 21.25c, 6 points advance; Mem
phis 21c, unchanged; Houston 21c, un
changed; Little Rock 20.75c, unchanged.
NSW TORK. Oct. 7. Cotton futures
opened steady; December, . 21.35c; Janu
ary. 21.SSr: Marco, 21.58c; May, 21.65c;
July, 21.39c
QUOTATIONS ON DAIRY PBODrCTS
Coast and Eastern Markets for Butter,
Cheese and ggs.
SAN FRANCISCO. Oct. 7. Dairy pro
duce exchange closed.
NEW TORK, Oct. 7. Butter Firm. '
Eggs Irregular.
Cheese Firm.
CHICAGO. Oct. 7. Butter Unchanged.
Eggs Unchanged; receipts, 5535 cases.
Coffee features Higher.
NEW YORK. Oct. 7. The market for
coffee futures closed today one point
higher to 11 points lower. Sales were
estimated at about 17,000 bags. October
8.ftoc; December 9.11c; January 9.06c;
March .04c ; May 8.98c; July 8.82c; Sep
tember 8.64c.
Spot coffee quiet; Rio 7s 1091014c;
Santos 4s lix15'c.
1st Not Bank Freewater. Or.
Hibernia Com at Sav Bank.
Ladd & Tilton Bank
Livestock State Bank
Lumbormens Trust Co
Multnomah State Bar.k .
Northwestern Nat Bank....
peninsula National Bank...
V S National Benk
Puhlio Utilities
Boise Gas Light A Coke pfd
Amer Fower ft Light pfd
Cal ft Or Power com
do pfd
Federal Telegraph
Idaho Power pfd.....
Northwestern Electric com.
do 61, pfd
do 7 pfd
fa Power & Light 7 pfd.
Pacific Tel & Te; com -
do pfd .
Portland G A Coke 7 pfd
P R L ft P com
do 1st pfd
do -d pfd
Bid. Afcd.
202 1'. 207 14
3 00 ISO
185 10O
IS 210
290 .125
173 100
300 350
150 1 75
90 3 00
150 175
135 J 50
123 i:;s
320 340
no 40
97 10O.
5 74
89 92 'i
7 714
0214 f7
19 2C14
f-0 85
' 95 ;- 99
-95 " 99
r-s o
Mining Stocks at Boston.
Mining spook quotations at Boston, fur
nished by the Overbeck & Cooke com
pany of Portland: Bid. Asked.
Algomah '5 10
Adventure - 50 100
Ahmeek 6! 14 62
Allouez ..... 24
Arcadian 214
Bingham Mines 1714
California ft Arizona 5914
Calumet ft Heda 285
Centennial 9
Copper Range
Davis Daly . .
East Butte .
Mohawk
North Butte .
Niplsslne;
North Lake .
Old Dominion Copper 23
Osceola Mining 324
Quincy Mining 39
South Lake 44
Supp Boston 314
United Shoe Machinery 434
do pfd 26
Southern Utah 3
Superior Copper .. 414
Trinity copper
Tuolumne
Utah Metals ;
Utah Consolidated .
U S Mining ....
do p t d
Utah Apex . .
Ventura
Victoria ....
Wlnoha
Wolverine . .
Wyandotte ..
::
394
44
9M
594
10 '4
5!4
so
114
52
1 Vi
424
47 13
24
2814
114
114
10
50
25
2
38
6014
289
10
40
4hi
10!4
61
11
6
32
24
34
40
4-5
414
44
26
10
414
1
. SO
114
" 214
43
4814
2
29
1'4
114
11
60
"B" 8,600 7514
SAN FRANCISCO PRODUCE MARKET.
" 00
91
::o
Puget Sound Pow ft L com- 53
Naval Stores.
SAVANNAH. Oa.. Oct 7. Turpentine.
firm. 91.324; sales. 122 barrels; receipts.
445 barrels; shipments. 176 barrels; stock.
10.814 barrels.
Rosin Firm: sales. 1117 bsrrels: re
ceipts. 1128 barrels: shipments, 714 bar
rels: stock. 87.703 barrels. Quote: B. D.
E. F. G. H. t K. M. 5.62!; N. 5.S5;
WG, 6; WW. $6.60.
do Pfd
do prior pfd
Tacoma Gas A Fuel earn..
do pfd
Wafhinsrlon Wat-r Power...
Insurance Stocks
Firemen's Fund
Home Fire & Marine
Montana Fire
Montana Life
New World Life
Northern Life
Or Surety & Casualty......
Pacific States Fire i...
Pacific Mutual.. . . . .
Vulcan Fire
West Coast Life
Western States Life
Lumber Pulp and Paper
Arctic Construction
Ct-n Cos I & Coke com
do pfd
Crown Willaioette P ft P . . .
do "A" pfd
Hawlev Pulp A Paper
Mult Lbr A Box Spec com
do 10 pfd
Or Pulp ft Paper com
. do pfd
PacifVc Box pfd
Peninsula Lurr-ber pfd .....
Tum-A-Tum Lumber com..
io S pfd ..
do 10Se Ji(i. ...... ...j...
S3-"
100
3ii?
40
20
It
123
105
H
610
1514
214
14
714
79
79
4O0
W8
21 H
50
75
100
!)5
5
95
75
S)5
92
99
14
' 55
" 40
67
7
104
S
4'"
107
333
2815
50
25
13
110
115
8S
600
314
4
16
4214
82
83
ioo"
"as""
"0214
115
IOO
loo
102?4
85
ion
110
Prices CHrrent en Vegetable, Fresb
Fruits, Kte.. at Bay City.
SAN FRANCISCO. Oct. 7. (State di
vision of markets.) Poultry Fryers, 29
32c: boilers, 28(40c: young roosters.
2830c; old. 14&18c; hens, 16932c
ducks, 1820c: live turkeys. 32)38c;
dressed, nominal; hres. pound, , 13(9
18c: squabs, dozen. 433.50; jack rab
bits, dozen. $22.30.
Fruit Apples, box, ?1(3'2; new green
apples, lug box. i.n((i 1.2.,: avocadoes.
$3.3.50; blackberries, drawer, 25040c;
tanteloupes, standard crme, 50c691.50;
figs. double-layr box $1 1.40; grapeei
crate. ?ltl..0; grapefruit; S7.5039.
huckleberries, pound. 2023c; lemons.
S6.0099; loganoerries. nominal; nec
tarines. cral&, tl1.25; oranges, valen-
cias. 361-11; peaches, crate. 65ctjSl
pears. Bartlett. box. 1. 502.50; per
Simmons, fiat crate. $1.232: Persian
melons, crate, 330civ31; plums, crate,
73c$1.25: pomegranates, small box, SI
ft 1.25; raspberries, drawer, 3565c;
beans, pound, Bgyloc; cabDages, pound,
strawberries, drawer, 4560c; quinces,
boxes, J1&1.30; watermelons, pound, lc
and less.
Vegetables Artichokes, lug. 11215;
beans, pound, 812c; cabbage, pound,
1'cr; cauliflower, dozen, 75c tl; carrots,
sack, SI ) 1.25; celery, crate, 12.503.50;
cucumbers. lug, 75cS1.25; eggplant,
lug, 75ciSS1.00; lettuce, crate. J1.502;
green corn, sack, 1. ioSM; beets, sack,
SI 1.25; onions, brown and yellow, cwt..
$11.25 at wharf; green, box. 11.25
1.50; peas, pound, 7&M5c; bell peppers,
lug. 6085c; potatoes, cwt.. $1.102.25;
sweet, pound. 214s214c; rhubarb, box,
$1.50)1.75; summer squash, tug, XL50
2; Bpinach, pound, S7c; tomatoes, lug,
75c!S1.15; turnips, sack, 75cSl; pars
ley, dozen bandies, 80c only; radishes,
dozen bunches, 80c only; Brussels
sprouts, pound. 614 7 '4c.
Receipts: Flour, 4869 quarter sacks;
wheat, 4207 centals: barley, 42,752 centals;-
corn, 860 centals; potatoes, 2457
sacks; onions. 1583 sacks: hay. 353 tens;
hides. 1249; livestock. 350 head.
Am Smelter .
do pfd
Austin Nichols..
Am Steel Fdy .
Am Sugar
do pfd
Am Sumatra ...
Am Tel ft Tel .
Am Tobacco . . .
do "B"
Am Wool
do pfd
do P pfd
Ab Zinc
Anaconda
Assd Oil
Atchtnson
do pfd
At Coast Line..
At Gulf ft W I..
Baldwin Loco ..
do pfd
Balto A Ohio . .
do pfd
Barn'ell Cor "A" 1.400 38
do "B"
Meth Steel
Booth Fish
B R T 800
Butte C ft Z .. 300
Butte A Sup .. 100
Burns Bros "A . ..... .....
do "B" 300 4814
Caddo Oil
Calif Packing . 3O0 85
Calif Pet 1.5O0 65
do pfd
Cal la Zinc A L. 100 914
i.anaaian rac .. z.ooo j.i
(ren Leather
Cerro de Pas .
Chandler Motor
Chgo A N W .
Chgo Gt W
do pfd .....
Chill Cop
Chino : .
C M St P
do pfd .....
Coco Cola
A O r. .
Colo F ft I
Colo Southern .
Col Gas & Elec
( olumDla
Con Gas
Cons Clears . .
do pfd ....
Cons Textile .
Cont-I Can ...
Corn Prod
do pfd
Cosden Oil ...
C R I A P..
do- A" pfd.
do "B" pfd.
Crucible
do pd
Cuba Cane 6.800 13 T4
do pfd 200 36
Cuban Amn Sugr 1,100 2314
Davison Chem.. 300 484
Del A Hudson.. 300 136
Del A Lack... 1,100 13814
Dome Mines ... 1.9')0 37i
Elee Stor Batt. 1.800 5514
Endicott Johnson 1,000 85
Erie 400 1 614
do 1st pfd 100 2514
Famous Players. SO0 984
Fed Mng A bm
do prd
500 7 7 614
224 2114 21V4
62
101 10014
85 "4 35 44
4414 4414
80 7914
3 00 10814 10814 108
100 394 394 3914
4,700 123 123 1 23H
200 32 10144 102
100 158 158 in
1,900 10O 9014 90 14
i . . . 10H
; 33
100 1914 1914 1914
8,200 52'4 52'4 62
9O0 12414 12214 123V4
1,2(10 10014 lo14 10614
200 9214 9214 0214
700 1 2014 11914 Hi
300 3014 3014 . SOflt
4,900 137 1371s 13714
114
2.300 554 5514
3714
'ii'ii
6514
64 '4
8714
25
7414
9
24
714
334
130
474
114
8414
6414
914
1434 1454
Swift A Co.
Tena Cop ft Ch. 100
Texas Oil 18.4O0
Texas Pad ...... 100
Tex Pac C ft O. S.000
Tub Products.... 2,2n
Tran Contl Oil.. 200
Union Bag & Pap
Union Oil Del...
Union Pa ......
United Alloy....
United Drug ...
Unit Food Pd...
United FruH....
Lit Rd of N .T. .
Unit Retail Eta.
U 8 C I Pipe. . .
U S Ind Alcohol.
V S Rub
do 1st pfd....
U S Smelting
U 8 Steel. . . .
do pfd
Utah Copper.
Va Chem
do pfd ......
Vanad Steel
Vlvaudou .......
Wabash
do A pfd.....
do B pfd
Wells Farejo....
Western Pae....
do pfd.
Western- Union..
Westhuse A B..
do E A M
West Md ......
White Eagle Oil
White Motors...
White Oil
Willys-Over ...
do pfd.
Wilson Packing.
Wisconsin Cen..
Woolworth .....
Worth Pump ...
W A L J
lOSS 108 lMi
94 B4 !
bo la 41)
30 30
27 24
64 82 4
3514 1414
200 19 14 19 li
l.lOO 110 1504 1
100
49. f
29 "4
!
62 w,
14'i is
'3 .
194
30.000 " " ..1.T3H.ST2
125,000 " " . .24..V1.7t;.r 70
75,000 " " ..Jrt,411.ri.l.,.f.O
20,000 " - ..a3,562,6t.o7
10.000 to 120.000
nd under or noratinsj 9,C19T.3il5
'H g
P 1
1)7.5
1.7
78.4
n
374 '
81
Total
.142,781,935.12
400 35514 155 1"
60 32 31 31 !
1,600 82 81 t V4 1
1O0 34 84 .".4 I
7tK 634 514 :
SSSIIO 644 5214 64 4
40V 100 1 100 1s 100i
3 0O 43 43 4.1
29.1O0 30t4 10.114 jo.-.s
40O 322'1
1,100 004
2U0 28
1.70O
IOO
1O0
400
800
100
46 4
13s
12
8214
93"
17
12
64
28
4314
131.
12
S3
i"
2.000 1174 11614
2S
1414
31 4
60 14
74
5
43T4
46
200
200
300
IOO
300
600
200
400
300
800 19014 190
166 1214 12
624
1414
81 4
504
7i
7
43
4314
2414 2414
714 1 714
34 8314
'48"
8414
64
3,600 4 24 4114 41
600 3914 39 3
OOO 6314 6214 62
700 92 02 92
700 6T4 614 64
100 3414 1414 1414
2.90O 2614 26 2614
400 2914 29 2014
400 32 "4 .".2 32
1,400 604 4914 5014
4,300 79 7814 78
1,700 7414 734 734
33 Is
60
200 1091 1084i looii
urapn. 1.00 3ik .1 a
3.UOO I3114 137 14 337
40O .014 3W14 3
81
1014 10'4
88 4 89 14
123 3 2314
120 121)
4814 4814
44
31)0
1.400 11
200 89
1,900 12414
200 120 '
500 40 14-
600 44 14 ' 43 4
2O0 10014 100
400 9214 91 14
600 85 14 85
Batter Prodaetlen Shrinks.
CHICAGO, Oct. 7. Butter markets
were firin during the past week. Pro
duction shrunk and receipts on the mar
ket were lighter. Supplies of medium
and lower grades appeared ample to
take care of Immediate demands. The
movement of storage goods was heavy
for the season. Closing prices of 92
score butter follow: New York. 45c:
Philadelphia. 4514c; Boston, 44c; Chi
cago, 43c
,
Cotton Seed Oil Market.
NEW TORK, Oct. 7. Cotton seed ell
closed: October $8.95 09.: November
$8.5698.37; December $8.6208.54: Jann
ary $8.56 9 8 56; February. $8.5908.60;
March 3H.75SV8.76; April e8.iows.ou;
May $8.90 8.81.
Sugar Market,
NEW TORK. Oct. T.-vRaw sugar, cen
trifugal, 6.28c; refined, fine gramlulated.
62c to 6.60c
FAN FRANCISCO. Oct. T. California
Hawaiian, raw sugar, fi,2Sc - ,
Fisk Tire
Gen Cigars ...
Gen Elec
Gen Motor .....
do
Gen AEPhalt ..
GItddin Paint .
Goodrich T & R
Granby
Great Nor Ore. .
do pfd
Greene Cananea
Gulf S Steel...,
Houston Oil ...
Hupp Motor
ills Cent
Inspiration .....
lnt Agr Corp...
do pfd
Interboro
do pfd ........
Int Harv
Int Mer Marine.
do pfd ..
Int Nickel
Int Paper
de pfd
Invincible Oil ..
Island Oil
Jewel Tea
K C Southern. -.
Kayser. J ......
KeUy-Spfld
K-enneeott ......
Keystone Tire . .
Lack Steel
Lee Tire -
Lehlgh'Valley. .
Xorillard
Loew Theaters..
LAN
Lima Loco ......
Marland Oil
Max Motor "A",
do "B"
May stores ...
Mex Pet
Mex Seaboard
Miami
MldStatesOll .
Midvale Steel .,
M K A T WI
Mack Truck
Mont Power . .
Mont. Ward ...
Mo Pac
do pfd
M St P A S SM.
Nat Biscuit ...
Nat Enamel . . .
Nat Lead
Nevada Con ...
New Haven
Norfolk A W
100
4O0
60
1314
3314
3514
22
4S
136
1374
3714
63
8414
18
2514
0714
'in' '
1274
2,800 13
,200
100
400
700
200
800
6514
334 .
35 4
3144
3914
8314
1.4M) 9214
6.200 8914
400 224
5O0 11514
00 394
300
100
300
"206
$.000
"566
'8,400
iioo
200
200
1.400
3.500
1.600
500
300
87
114
314
'iri
624
17
6814
1714'
20
2414
464
4314
3314
814
814
144
'ei"
13
35
314
sn-4
924
'6614
88
115
3SV4
37"
14
3V4
"i.iii"
604
36'A
58
"16
194
24
464
41'A
35
7
8114
600 AS
"566 "2174
600 138
1.700 6014
1.700 394
. 1O0 140
.14.800 1844
. 6.6O0 364
800
. 2.100
900
. 200
. 1.100
.. 100
. 200
200
. 600
92
844
mi
3314
5:1
4S
136
13714
3714
5514
844
36
254
9714
13
60
1314
wo
1784
34
85
6414
1314
34 4
SI
39 i
92
30
91 44
8814
21-14
114
3814
84
37
1'4
34
110
1514
62
364
5814
85
16
4
3914
234
464
4214
3414
8
81
2
12!
60S
274
41)14
13 1,
17
82
t'Oli
91
17J4
82 V,
117
110
62
14
31 14
60W
74
7
43t4
45 hi
3014
19ft
40
12
liberty Bond Quotations.
Liberty bond and victory bond quota
tions furnished by the Overbeck A Cooke
company of Portland: Closing
OTwn. nign. iOw. riu.
Liberty SVs.. 100.68 100.68 100.66 1 00 60
dO JSt 4S lUM.lfO
do 2d 4s... '. 99.92
do 1st 44s. 100.34 1O0.24 100.08 lofl.1'4
do 2d 414S. 99.92 100.14 99 90 100.08
do Sd 414s. 90.98 100.14 99.94 100.14
riA 4thUi. IOO. 18 100.30 100.14 100.22
Vic. 44. call 100.12 100.14 100.12 100.32
CO 44S 1023 IOQ.42 IOQ.43 1U0.4U 100.4U
Money, Sliver. Kte.
NEW TORK, Oct. 7. Foreign bar sil
ver, 69 Vi c
Mexican dollars, 5Z14e.
LONDON, Oct. 7. Bar silver. 8514d
per ounce. .Money. 1 A per cent. dis
count rates, short bills, 214 214 per
cent; three months' bills, 3 7-l2'4 per
cent
Would yon hava thoutrht that mors than
half of this volume came from concerns
rated $125,000 and over? Certainly aucb
concern know what they are doing.
3fl.ir) of the a bore Customer ISare an fn
crea.ed ratinsr in the January, 1922. Dun
or Bradstrcet's hooks oner the ratine they
had when they betran doing; bust.n with
us. They have improved their financial
standing throufrh the use of our service.
Your business la not different.
rrif iiiriTTinniiiruiiiiirif iitt iitf iiiiimirt Miniiiiitiiiiiiiii iiiiiiintiii mi
Commercial Credit Company 1
Cash Capital and Surplus $7,250,000
BALTIMORE - SAN FRANCISCO
Represented at Portland, Or, 1204 Gajtco Bide. 5
' Affiliated -with E
E COMMERCX4T. CCKITANC E COW vr WIT T. mm IT El
TKFST (loo-lM. IM. g
Cash Capital and Surplus, Cash (wliol aod anrplna,
f 1,.,00.000 . 1 400 OtM)
HK.4lr UrTW UU KIM
TIIIIIIIIIIIIIIIIIIIJIIIIIIIIIIIIIIItlfllllHIIIIIItllllffllllllllllllllllllllllllllllllllllllirP
Deficit tat Clearing-House Statement.
NEW TORK. Oct. 7. The actual con
dition of the clearing-house banks and
trust companies for the week shows sr
deficit of 323.0R1.90O. This Is a de
crease of 881,688.650 from last week.
Swift Co. Storks.
Swift c Co. stocks at Chicago as re
ported by the Overbeck Cooke com
pany of Portland:
Swift & Co 1074
Llbby, new 9
.National Leather 914
Swift International 23 hi
Foreign Fxphange,
Foreign exchange rates at the close of
business yesterday, furnished by North
western National bank of Portland. The !
amount quoted Is the equivalent of the j
foreign unit In United States funds.
Austria, kronen ( .000016 ;
Belgium, francs 071 H00 ,
Bulgaria, leva .oooono i
Caecho-Slovakia. kronen , .034200 :
Denmark, kroner .20420O
Kngland, pound sterling 4.4400O0 I
Finland, finmark .....022700 1
France, francs .0704OO I
Germany, marks .00052.1
Greece, drachmas .020200 1
Holland, guilders .8x9.100 I
Hungary, kronen .000.100
Italy, lire 04S4i0 ,
JuKO-Slavia, kronen 0"4ono ,
Norway, kroner .............. .17700 j
Portugal, escudos .04.1000
Roumanla, lei .006.100
Kerfria, dinara .016200
Epain pesetas .3.124tM
Sweden, kronor 206200
witserland. francs 1X7X00!
China-Hone-kong. local currency .57.1000 i
shanrhal. taels 7X0000
Japan, yen .487500
NEW TORK. Oct. T. Foreign e
change firmer. Great Britain, demand
$4.4214: cables. 14.4214: 60-day bills on
banks, $4.40 H- France, demand, 7.61 He;
cables, 7.61 lie. Italy, demand, 4.29c;
cables. 4.2914 c. Belgium. demand,
7.1114c; cables, 7.12c. Germany, de-
mand. ,0414c; cables. .04 8-16c Holland,
demand, S8.R2c; cables. 38.88c. Norway,
demand, 17.70c. Sweden, demand, 26 03c.
Denmark;, demand, 20.37c. Switzerland,
demand, 38.62c. Spain, demand, 15.38c
Greece, demand, 2.85c Poland, demand,
.0114c. Czecho-S'.ovakla. demand, 3.40c
Argentine, demand, 35.87c. Brazil, de
mand, 11.73c. Montreal. ll.oo 3-64.
Standard Oil Stocks.
Standard Oil stocks furnished by the
Overbeck sc Cooke company or Portland:
ifia. ask.
Raise Capital Quickly
"QUICK FINANCING" Shows How
Get Your Free Copy .
Read all aHowt bow fa rf rtHl ta aar aaaaftaf y a wihtl
Cl MN(,IUM IM.A V. liar thlrt r- KRK.K UmmU im nil-,
with valnalt-le tnforv.Mfnn, ahrla an4 mt rartaa fte
capital you ae! whether for laaastrlal, aslalnff mw vrattr
eaterprljiea. -
eeiir muv FRKK PLA' ahawlaa; haw flaaa- Mr haalaaaa by
Chia eaailjr aarat4 aihaa that rnaar aaaUt aar rw I at.
f-wTirf from'ni aoillT arV ahow-nir haw aaa aaaaar a1f VI V.
!HII,MO IMIl.l.ARy WOKIIf OK MlM h-RMthtr, -NK V4U.L.O
8 H.Vtl A aother, K1VK UIMJKKU THUUAM) MI1AHK.
W'rttfa for oaltlve avIaVare from aattafOtt rataara all tvff b
i; at ted htatea and leara mt thla aaeeeMfal alaa that ymm eaa aaaiir
narrate a,uicklr for mny leajltLmate aferart aeediaa laraa raattal.
We refer ta aerea baaba aad dome a af aatlafled rmalaaBera.
Get Our Proof and References
Method ta keif) yea
Oenrnd Itils Pre-
HU.MisT and LboI'l'IMAl'IS.
If yonr after ts
It Is JToollab to want tlsna trylna aid win n oat way ef flaaaetnsr l
roar proposition ne the plea tkat ollll lit fcae I'H ale. H
CriF . Huaile year resnest to mm and wo w 111 harry lbs aewla W
Im yoo l)st stake Ike snlelaka of snleelna 14 I f sway stoy f mm aia 41
to know Its eaateafla aad tkla aalrl. oauay. lealttanalo aeaerraaalagr. L'
anetnod.
"if Is alwara available for
ITaUilCJ) business eatersirlara It yon reark tbo
Ike HJ1.II T WAV,
flaaftelaa
HI
of sa
.IIT
pewaala la
kaslaess
csiaerta.
) Itaelf aad reejalrra ks aantewa
674 674
284
134
334
1814
69
7.1
21
68
172
21 14
l.'tS
60 K
39 '4
664
1 x
140 139
180V4 183
35
2114
138
6014
3914
2814
134
33
18
iS
73
2114
2114
674
1,900 200 '
900 65 1
284
13M,
3314
IS
684
72 "4
2114
214
6Sls
71
19714
6.1 14
197
6.1 i
100 108 4i 10814 108
200 3614 16 3 6
6oO 30 4 304 30a
600 1194 11914 lia
Nor American... 1,100 9614 964 9614
Nor Pac 100 8614 8614 8614
Nova Sco Steel. ..... ..... ... 35
N T Air Brake 314
TT Central .... 2.600 1)8 6T4 8714
Okla Prod ref .. 3oO 24 24 24
Orpheum 8O0 2814 2614 2.14
Ontario iW ... 100 2514 2.1 2S
Otis Steel 200 12 13 11
Pacifilc Dev 400 44 414 4'4
Angle
Borne Pcrysmer ...
Cheesebrough .....
do pfd ..........
Continental .......
Crescent ..........
Cumberland
Eureka
Galena com
do old pfd
do new pfd .....
Illinois Pipe
Indiana Pipe.......
Natl Transit ......
N T Transit. ......
Northern Pipe .....
Ohio Oil
Imperial Oil
International Pete..
Penn Mex
Prairie Oil
Prairie Pipe
Solar Refg
Southern Pipe ....
South Penn Oil ...
S IV Penn Oil
8 O Ind
do Kansas
do Kentucky ....
do Nebraska ....
do N Y
do Ohio ........
do Ohio pfd
Swan A Finch, ....
Vacuum ..........
Washington
. .. 2114
...420
. . . 225
...110
...148
...33
...150
...S3
. .. 62
...108
...303
...172 '
. .. 97
... 26
. . . 1 70
...110
...141
,..124
...222
...30
, . . 600
...277
. ..8XO
..97
..220
. . 0
..13114
..630
..114
..210
..6.1.1
...160
..11
.. 30
..61.1
214
43.1
2.10
3 15
3.12
37
3 60
97
55
112
106
17.1
98
27
175
312
8.12
3 2.1
223
31
70.1
2X3
3'.)0
!)
225
6.1
1314
631) 14
116
220
e.-.o
670
120
3014
82 .1
as .
- Chicago OU Market.
f By Chicago Tribune Leased Wire.)
WANTED
Rare Ores and Minerals
Also tha common non-metallio ores.
In larare and small quantities. Sena
samples, statins; quantities available
and time required for shipment.
Wagrner, Henkels & Co.
Liberty Triit Building,
Philadelphia, Pa.
Getting: It i", .
fJTTR Plan K,"r ,hmt Jr
"UIV X IcWl efficiently aad erwaaaatrallr.
BENNETT FINANCING SALES SERVICE $
453 San Fernando Building: Los Anccles, CaL f
f,
saassassBSSSBBBBaaWsaal
CHICAOO, Oet. 7. Casollne: Tsnk
wagons 21o; service stations 23c: ma
chine 27.9c Oils, summer, 33.4c; wtnter,
11.9c Carbon Perfection, Iron barrels.
11V4C Linseed oil. raw, 1 to 4 barrels
delivery. 31.02: boiled. 1.04. Turpentine
$1.60. Denatured alcohol 40c
Chicago Potato Market.
CHICAGO, Oct. 7. Potatoes rinn OB
sacks : dull on bulk; receipts 88 cars;
total United States shipments 1049 csrs:
Wisconsin sacked round whites aOcajSl
ewt; bulk SofRoe cwt.; Mlnnwia
sacked "eil Riven. 81 w 1. IS e I .
bu'.k Siesoc ewt ; JStnneenia hu.ti am.!
land China aoef6e ewi.; North lukoi .
sacked lied rivers 1&cafl.o ewt.; fai'i,
I'aMtla RMrked dhlns Bft S N" ew.
We Will Sell
S Portland aa Coke pfd.
a Pari lie Power l.lBht pfd.
15 lumbermen Tmit ( o.
60 ortbwHitern L,l-etrll 7 pfd.
13 t'olunib.a Tire t o.
& l'ortlaoU V-rtable Oil Mill ft,
I.d-1sI, Ktn A i mkm Kop Ca.
SO tkreiroa Pulp P-ier pfd.
20 Tu nt-tw-I.niTi 1. amber Ca
PeB.nafa !( .onttl Hevnk.
1K Portland Hy., I.fit aft Power fm
to Fortland Hy., I.tKt A Pwer pfd.
100 Drnno eood fori lnd.
ft Aaaertmn HeearHlrw i. nil.
m 4. I. JUitftaMUl pfd.
We Will Buy
5 Wmtem Hond Mt. Co.
10 J. I,. llartmHJt r-dremahla pfd.
J0 Pacific Mt rire lo
2.1 OrrRnti Portland CVmeat.
25 Portland Oa t oke.
IV Multnomah I.atnbr Pot pfd,
15 P.Hfo Powfr a l.lxht ptd.
50 or1hwrifrn National PMiihe
ra OrrtoR worvted Miilia pfd.
We buy, sU aud quota all iisrtd and
unllivted tock- and bond that have a
market value.
Inquire solicited. Onr qootatloa aht
ant frea upon reqneat.
pJoRDAN-WgNTWORTH &(a.
a Bnocis.- ( I
.STOCKS aes BOM DC)
NORTHWESTERN MUNICIPAL BONDS
Yielding from 5 to 6
City, Port, School and Improvement Bonds
Detailed Circulars on Request
WESTERN BOND & MORTGAGE CO.
Fourth at Oak Street
Telephone Broadway 6464 Portland, Oregon
SUCCESS
la tbo Stock Market
FORTUNES
(fade Krona Ksnall Iaveataseal
Write tor Kree Booklet.
Tho Mot aimple Baplanatloa of
Profitable Mork IraMllng.
Te goarontee yen tkat year money
hi solo aad tkat yea get a etiauare
deal. .
TENNEDY & CO.
74 Broad war, ew Tark
Mambara r.n-nrtated Stack
Kenans a.
Bond Issues
WHERE LACCE EUM3 ARE
REQUIHED, WE ARE TRE
PARED TO CONSIDER PRO
POSALS INVOLVING LS
SUING OF BONDS, 0B PRE
FERRED STOCK, BY PUBLIC
UTILITIES. RAILROAD, TIM
BER OR OTHER INDUSTRIAL
CORPORATIONS IIAVIN0 A
SUCCESSFUL RECORD BACK
OF THEM.
FEAR & GRAY
102 Fourth St
OVERBECK &
COOKE CO.
BROKERS
Mesa bee. (alrats H.ard mt Trade
Moarel mt Ins. Ml Saw
l'.ni...
readletoa. Walla Walla,
Or. Waak.
flree4 Prtval. Wlm ta
LOGAN & BRYAN
Aew lark and 1 a Ira a: a.
MfcMHkKI
;ew Tark to-rk Kt'-iifa
C b lea a a fbtnek ft : a rkaaft.
HoNtoa atowk Kii-ka.it,
I bU-aao Maard mt
ew ark t i loa hn-kairis.
ew Orlvaao tea t,aaaaa
Jsfw 1 ark Pradare llirkiaga
V laalpea; Orata Kickatf.
GER3IAN BONDS AND
MONEY
Bounht and Sold
j TRAJfSATLAJTTIC ESTATES a
CREDIT COMPAWY.
219 Exckaasa Bide Sd aad ttark.
Organizing a Company?
pen Bed tasee '
mn'iin on lh popaiar, f M'N
i.AW p'mn oKia-r a pur- M LARA
TlttS OF Titl T. Abt"".
Whr rmn ' tD t't.HAH K
HTA.VDARU rKM. Umm ift-r-i
Iiu-t upon l KMAKk-5 h
rjr!nti. i.at lon ---'pt f
approV'A a1 uaad iw a ' Ib"i
iifnrnii. Pr,4 try' . la.r. fr-i
rmn ph -i fT4'2 i i 'ntia rr art i
rr-sjftrw that w i f r C.
f'r.MAHi.R, tci H.mr)t FriDtar. Ta
WaaiiUU Kauaaa C.ty, Ala.