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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Sept. 25, 1919)
:,THE OREGON DAILY JOUKNAL. PORTLAND, THURSDAY," SEPTEMBER 25,' 1919. LANG SYNE SOCIETY NEWS OF THE FINANCE, INDUSTRY AND ENTERPRISE WORLD Edited by Joe H. Jordan AWARDS AT STATE FAIR 20 HEARS ARMY OFFICERS AT MinWPPK MFFTINR ,4' Colonel Charles H. Martin, Late Commander Overseas, Makes Interesting .Address. Ninety members of the Lang Syne society Portlanders who have lived un der the shadow or Mount Hood since before 1890. when Portland. Kast Port land and Alhina were consolidated met "Wednesday for luncheon at the Hotel Portland. Addresses were made by Colonel I'h-jrlon H Martin armv recruiting of- Charles II. Mai tin. army tecrui ting oi l.eer in romana sum immer i.ij... h ', era.1 in command of the Kighty-nlxtli. I J.'ilietietli. and Ninety-first division j OVeiseuH ;. C. H. Ilotchkiss. former major, j Yh'e rUn; Tr,',OVTt,'';:'r;1v CharleS J. hchnabel, Portland attorney. , Colonel Martin told of a rickety bus rid t broil Kh. Portland in 1S87 when he . . raiiw to Vancouver t.arracks rrom west i . . i seconu ano iniio, j. i. lain, i'.jwn, .'i.. j -- - VI. u( Point. He praised the training camps AeP(J h,rd Kiy j FuX .yonJi or.."fir.-t; Herbert Willard. Darton, Or., second; J. W. Kinger, as responsible for-victory In the late war. j Seattle. WasiV. tnird. ticneral Pershing, he said, had been un-j Aged herd br,d by exhibitor. Herbert Willard JHayton. Or.. f.it. aecond- T B. jUStly pictured as a "military martinet." Young herd. Kay .1. Fox, I.jor... Or, f,r,t, O. T. Murph, 4 bon. Hubbard. Or., second, T. B. While In service with the army of oc- I '"J;, 'b'yrVx,MMlMor. Kay J. Fox. I-yo. Or., first; T. B. Clark, Dayton, Or., Me diation. Colonel Martin noticed thai , onJ. , K. Lo,, Sile rtcn. Or., third. . i.,,i.,ur.- i Ik. u u t ,-li u-r n f I hp flpr- i ,'. .. n.. i i.... i , - i ir firi t T Mtin.liT A Son. Hubbarl. Or.. 6econu. war. people. He ri'Rre;u-u mat in teippcr was the prevalent spirit here. The colonel was voted -na permanent member of the orfjanlzatloin. Tav1d M. Iiuiwie is preslletTr-f the Iang Syne society. Other officers are ; 1jkv.h (J. Clarke, first vice-president; J. Frank Watson, second vice president, atid Frank Dayton, secretary and treas urer. Among: the puests at the luncheon was First Lieutenant A. 11. S. Hoffen ckjfi. who returned to Portland Monday frorr, the army of occupation. He left Kerfeijiber 17. 1917, and served with the Fifteenth field artillery, Second division. He will be mustered out at Camp Lewis about October 1. Rorer Chairman of Bankers' Association Kugene. Sept. 25. C. 1. Rorer. presi dent of the Hank of Commerce of Ku Rene. has been appointed chairman of the agricultural committee of the Ore gon Bankers' association. Rorer has i-en active in handling farmers' finan cial problems and was largely instru mental, it Is said, in securing passage, at the last meeting of the state bankers, of a resolution whereby all Oregon hanks agreed to a voluntary assess ment of one-hundredtli of 1 per cent of their capital and surplus to pay the r-ralnry of a state agricultural expert. This expert will cooperate with county agricultural agents nnd bankers In in vestigating and handling farm lands and In trying to educate farmers to conduct their affairs on a business basis. TRANSPORTATION mm TV fEAMSHIP CITY OF TOPEKA" Sallt 9:00 P. M. October 3, for Marshfleld Eureka, San Francisco, Lot Angeles and San Dleo. Pint Class Fare, Including berth and meali: MARSHFIELD $ 8.00 EUREKA 18.00 BAN FRANCISCO 20.00 LOS ANOELES 32.60 SAN DIEGO 36.00 Ticket Office 101 Third Street. Main 1466. A 3332. Local Freight Office East 4331. PACIFIC 8TEAMSHIP COMPANY t C0HPA6HIE ECNERaLETRANSATLANTIQUE m; txpreae foatei service PROPOSED DEPARTURES Subject to Change Without NoUce NEW YORK HAVRE JFUANCF. OCT. 8 KOCH A M BEAU OCT. II h S.VVOIE OCT 18 1. TOURAIXE OCT 25 LA LORRAINE OCT. FRA.-VCK SOV. i NEW YORK BORDEAUX XI A (JAR A OCT. 4 Fugail .Broi., Pacific Coast A genu, 103 Cheryr St.. Seattle, or inn Local Agent ERICA LINE 88. BERQEN8FJORD 8S. STAVANQER8FJORO 18,000 D. W. Torn Newest, Fastest and Most Modern Steamer to Scandinavia. 6AILINQS FROM NEW YORK EVERY THREE WEEKS Agents, Portland Contul BJelland Consul Veld, Lldell, The Journal Travel Bureau, Dorsey B. Smith. SanFrancisco S. S. ROSE CITY DEPARTS IS SOOS Sunday, September 28 From Alnsworth Dock Fare Inclades Berth and Meals City Ticket Office. Sd ft Washington Phone Main 830 Freight Office, AInsworth Dock Phone Broadway 868 San Francisco 1 Portland 8. 8. Lines LASKA If (jn are Interested to a trla to AlaAa thu aummer. nam. oooa should be isokan t oon. a ttaera are to be Umt boat man urt aeaaoo. aad tia. uadli alraadj temwj. Imt ua uu 70m apaoa Ataaka Steamer tp Oa. Oanadlan Paelfto Ocaan Sarvlcae. racifkt taamsiiip Oa. CKEQ0N JOURNAL TRAVEL BUREAU 0CRSCY B. SMITH. MARAQCR. to Journal BulMIn Portland, Oreoo'a TataplMna Marshall 1S7 . 'I V "V L I 5. S. " A Ail SHEEP Lincoln; IUm. 2 years old or orer. J. D. 8. Hubbard & Son. Slonroe. Or., first: William Beddla & Son, Monmouth. Or., pcond; Clow Brothers, Independence, Or., third. Ram. 1 vi-ar old and under. Clow Brothers. Independence. Or., first and second; 1. V. Ss. HUD fcbard 4 Hons, Monroe. Or., third; William Reddle Umb, Clow Brother!., Independence. Or., first End eoona; Miuiam iieauje s. sjv.i.. uUuu..,uu.. Or., third; J I. 8. Hubbard A Sons, Monroe. Or., fourth. Kwe, 2 years old or oTer. Clow Brothers. Independence, Or., first William Keddie & Sons. Mon mouth, Or., second and third; 1. I'. H. Hubbard & 6on, fourth. Kwe lamb, clow Brother, Indendence, Or., first and second: IVilliaro P.eddle St Sons third Kwe. 1 year old atid under, J. I). 8. Hubbard & Sous, first and becond; J. D. S- Hubbard & Sons, third. Kwe lamb. Clow Brother. Independence, first and second; William Reddle & Sons, third ami fourth; .1. I K. Hubbard & Bona, fifth. Flock. William Ke.idlo & Sons, tint: .1. l. K. Hubbard, aecond. Flock, bred by exhibitor. William Reddle & Sons, first. Pen 4 lambs, cither x. Clow Brother. firt; William Keddie 4 Bona, second. J. X). 8. Hub bard 4 Sons, Mourn, tliiid. fen 4 land, bred by exhibitor, Clow Brothers, first; William Keddie & Sons, second. Ham, any sec, J. I'. S. Hubbard 4 8ona. first Kwe. any age. Clow Brother, Independence, first. HOGS Poland China: Boar, ' 2 yearn old or orer. C. K. l.oe. Silreitor. Or., fir.t. R. V. Hogg. Salem, Or. second; J. W. Kinser. 8 attle, VI... thud. Boar, It lnontlm. under 2 ear. Ka;- J Fox. Koni. Or. first: h. O. Koe. hilierton. or., second. Boar. 1 year ind under 1 uijnths. Herbert W i:lard. Dajton. Or., first; Kay J. fox, Ljorp, Or., second; Herbert Willard. Da ton, Or, third. B'iar. it mm His and under 1 year, O. T "livertort, .., second; Kay J. r jx. toot f. nr.. mm. H tiioMlia M , A s,, HilTertoii. Or., third and fourth; Herbert Uillaru. n,, ye.rs m ,,r oier. kay .1. Koj. I.jom,. Hubbard. Or., third; Herbert Willard. Dayton. Or. fourth and fifth How. 1 ni'intn-. under 2 years. Kay J. Fox, l.yuo. Or., lirsl aTid Pecon J ; J. W. Kinjer, Seattle, ""tTUr. under ,H month.. R..I. Fox. Lyo,. Or.. t,r,t and .second; Alvin U (iilkey. Sclo, ur ,h.r(J,; K,vcrt. ,,r.. fonrtb ana fi.ti.. Fow. K rDnntrw. under' I ear. Wayne Fox. I.yciir. r., first; Itay J. lox. Kyona, Or., secona and third; o. 'I Murphy 4 Hon.i ubhard or.. lourto ann i. n i,,..lr t: mti..ii4 T H I lark. Ttevt.oii. Or., first: O. " , ,:,..c i.,..,.., ,.,. h l'rmiuee i)f ,dvt, it. I .Mtironv. IlilDlwra. Mr., s...ni,.r riunn.ifin hour, llav J. h'ox . l.ons. Or., Junior chamoion b..ar, O. T. Murpiiy 4 Son, Hubbard. Or., firsL Senior iiammon cow, K v .1. l'"X. I.jons, Oi . fir.,1. juiiMir chatn..ion row. Hay I Fox. Lyons. Or., first. Boar, Kay a Fox. Kyoto, or., first. Sow, ILay .1. Fm, Lyons. ir.. fust. Harrow, under 300 pounds, It W. Hogg, Salem. Or., first and wrond. . . inn .,..., u ii.v -I Kor. Lvons. Or., first; O. A. C. Certain I til O mmma uuut. r v. , j - - . - HOGS Tamwoith . J. W. Kenger, SeatUe, Waah., bow 2 years old or over, first premium; senior sow. first premium, now, first premium. HOQS Hampshire ... ,, J V Kenaer Seattle Wash., first on the following: Boar 2 years old or OTer. boar 15 montlunde'r'-'rear'boar- month, under 1 year, boar under montl.. sow 2 W",? Now 8 months under a year,, sow 1 year under IS mont b n " exh" tor. get of 6 months first and aecond premium; aged herd, young herd, young herd bred by exmuuor, a sire, produce of sow, senior boar, senior sow. junior sow. boar, aow. Stock MMprrl Furnished by Overbeck & Cooke com pany. Financial News says general market sentiment displays In influential circles a strong tendency toward quick in and out trading. The rank and file generally seems to tie inclined toward scalping lather than to make commitments of importance for swings. It Is largely an attitude of buying on drops and sell ing on strong spots with prufessionals doing most of the Hatter. The Tobaccos, Rubbers. Hugc.rs and Oils continue to be given preference by bullish sources. , lvliience oi ouynn; cil ui..m ..mi Sugar for a long holding has been noted in the past few days. Large profits are predicted for those who will buy the stock and keep It for a period of time. good percentage of local traders were bearish last night but market was not without friends who regarded the setback as onTy natural. While eastern buyers are willing to take new corn for deferred shipment they are not inclined to follow m.'irk&t advances. It was very noticeable that sales to the Kast on the bulge yesterday were small and Toledo wired that the demand there had fallen off. Oat longs were disgusted with the action of the market. Kfforts to ?,et prices up have been met with heavy sales by longs who had high price hold ings and were anxious to get out. Standard Oil ships valued at JlO.noo. 000, property of Onnam subsidiary of Standard Oil company, given to allies. President of Southern Pacific says high prices are not due to railroad rates. Sinclair Consolidated listed on stock exchanges. Continental Candy stockholders of the j Continental Candy corporation of record Is Your Blood Starving FOR WANT OF IRON? js WhoShould Iron Is Red Blood Food It Helps to Put Strength and Energy Into the Veins of Men and Roses Into the Cheeks of Women. Why Nuxated Iron so Quickly Builds Up Weak, Nervous, Run-down People. Thousands of men and women are im pairing their constitutions, laying them selves open to illness and literailv los ing their grip on health, simply because their blood is thinning out and possiblv starving through lack of iron. Lack of iron in the blood not only makes a man a physical and mental weakling, nerv ous, irritable, easily fatigued, but it ut terly robs him of the virile force, that stamina and strength of will which are so necessary to success and power in every walk of life. It may also trans form a beautiful, sweet tempered woman into one who is cross, nervous and ir ritable. Iron is absolutely essential to cnah! your blood to transform the food you eat into muscular tissue and brain, It i-. through iron in the red coloring matte of the blood that life sustaining oxv gen enters the. body. Without iron there is no strength, vitality and endurance to combat obstacles or withstand evere strains. Contrary to general opinion lack of iron In-the blood does not r,.. .-- sarlly mean you do not have enough blood, but it means yo ir blcod is no " of ttio iv,f ,b no1 OI the right kind. To heln ma! uiooueu people mere is noth- j tug better than organic iron Nuxated ii vii. eiiiiKe me omer inorganic iron products it is easily assimilated, does not injure the teeth, make them bla.-k nor unsetthestoma. il Vc rn-.tt... ..-i, Ionics nr 'irn ,..' ' Jii " .J :.. ,. ouler without success , if vrT,, r"."5e" n iinoui success, ir ou are not strong FROM PORTLAND, OREGON FOR London and Liverpool Direct S. S. "DEWEY" (STEEL 100 A-II SAILS OCTOBER 7, 1919 tVS SjV" rX 10 rates, reservations, etc., apply COLUMBIA PACIFIC SHIPPING CO. Phones: Main 411 Board of Trade Bmlding, Portland, Or. ,4 - St Ham, Monmouth. Or., fourth. Murphy & Son. Hubbard. Or., Iirvt; C. n.. l.oe, alio ioc.rni . n. i . own, t Hubbard. Or,. t.r,t and tctoud; C. K. Loe. Dajton. Or., fifth. Or., first and -.cond: O. T. Murphy & Son. first; O. T Murphy 4 Son. Hubbard. Or., - u. j f..t i.von. or., fifth. iir-f . i. . tir.-t. Or., second. October S will be given right to sub scribe at a share to 70.000 shares of capital stock of "Buddy Buds" incor porated, which will be a subsidiary of Continental Candy :n ratio of H per cent of their Continental Candy holdings, subscriptions payable November 13. I Proiicsal made to use oil to heat New 1 York city. A sale of JO.OiKl shares of Studebaker was said to be long stock while supply of I'U'OO shares of Mexican Petroleum which caused the break in that issue was asserted to be for the account of a bear trader. Crucible Steel said to be in strong po sition without regard to any short ac- nimt and American Tobacco is aiso ppoken of as on il3 ay to much higher figures. Chairman Kahu of house military com mittee introduced bill providing for pay ment of $6.1 1 1,126 to 4he Curtis Aero & Motor company m settlement oi war falo plant. House passes senate bill abolishing president's power to increase or lower railroad rates without approval of inter state commerce commission. The astonishing thing about United States August foreign trade is big vol ume of Imports before Europe has emerged from war. President of Baldwin Locomotive nies company recapitalization. de- Pan American Petroleum to issue new stock for expansion. American Pmeltinf deficit. reports six months' American Telephone & Telegraph com- S'.tl linn 000 R ner rent notps which will be issued shortly for public subscription. Take Nuxated ( "Oa? j out becoming tired. Next take two five grain tablets of ordinary Nuxated Iron three times per day after meals for two a,? i " leSl .'OMr styenth aSain and see how much vou have trained Numbers of nervous, rnn-dnw-n nennin who were ailing all the while have in creased their strength and endurance in two weeks' time while taking iron in pioper rorni. .Nuxated iron is now ''"e u oy over mree million people annually, and the manufacturers euar- antee successful and entirely satisfactory ret-., it-- D-., ,, i STEEL IS BUOYANT ON STREET; STRIKE BELIEVED FAILURE Financiers Claim to See German Propaganda in Walkout; Large Percentage of Men Germans. CONGRESS EXPECTED TO ACT Success of Strikers Depends on Aid of Railway Unions; Roads Under Direction of President. By Broad Anwall New York, Kept. 25. Conditions in the steel strike situation were so good Wednesday from the "Wall street point of view that profession als found it difficult to believe the news. Ie develops that there has I been a great deal of German propa ; ganda anions the steel workers, and ; that fact will probably be put on of ' ficial record before the senate com : mittee. In those jrtills where the largest per centage of Germans and Austrians are at work, the tieup of the industry Is most complete. Those individuals were loyal during the war, but seem now to be aggrieved at the hard peace terms. It is also important to remember that if American steel can be kept out of the export market, the German mills will have a better opportunity to recover the business lost by the war. PRESIDENT MAY BE FIRM American workingmen are nearly all loyal and the investigation by the sen ate committee is welcomed by the finan cial world, because of the light it will throw on the situation. The attempt of a few agitators to make it appear that Bolshevism is becoming a matter of importance in the L'nited States has apparently failed. It was also reported from Washington that in the event of a jail being made by the agitators for the railroad men to refuse to handle output of the local mills, a certain set of Pres byterian jaws may snap and somebody may get bitten. The union men evi dently overlook the fact that the presi dent of the United States is running the railroads, and that in addition he has called a conference to discuss the very problems that are being brought up in this strike. The strike was called in spite of his call for the conference. STOCK IS BUOYANT Owing to the cheerful outlook in the steel industry, stock of the LTnited States Steel corporation was buoyant today, selling at one time as high as 104 Vfe, a gain of points. It retained most of the gain to the close. Several other issues were buoyant, notably American Tobacco, American Sumatra, Royal Dutch, American Snuff, Fisher Body, Keystone Tire and Kelly-Springfield. There were some reactions due to profit taking, and among these were those in retail stores, Pan-American and Mexican Petroleum. For the reaction in Pan-American and Mexican Petroleum, the reason was an nounced that $75,000,000 par of Pan American common stock will be issued to enable the company to finance its half of the British-Mexican Petroleum coinpany. PAILS TO MAKE DIVIDEND Th fact that Keystone Tire suddenly became strong at the same time that American Sumatra made its first im portant upward movement seemed more than a coincidence. Whatever the cause of the recent break of Keystone Tire, it is certain that a falling off of business was not responsible. American Sumatra also is in good shape as a company. There evidently were personal reasons in both stocks and these reasons are evi dently removed. Wall street was much surprised that me .-w.ierican emeiung cc itenning com- pany should have failed to earn Its divi dend in the half year covered by the report just issued. The uompany is so rich in surplus that it need not cut out its dividends because of one bad half year. Wilson, Heilbronner & Co. Take Over the Hutton Leased Wires Announcement is being made this week that J. B. Steinbach & Co. have disposed of their leased wire interests with the K. V. Hutton & Co. of New York to Wilson, Heilbronner & Co., who will continue to handle the business at the same offices in the Railway Ex change building. H. I. Wilson and I. A. Heilbronner of Butte. Mont., have formed tho new company and are at present the Butte correspondents for the Hutton leased wires. Mr. Wilson, senior member of the new firm, will asume jersonal and ac tive charge of the business. Mr. Wilson has been successful in business' in Butte for the past 30 years and is vice presi dent of the Wilson Heilbronner company, and will conduct the Portland office. Mr. Heilbrpjiner will continue to operate the Butte office. J. B. Steinbach & Co. will, in the fu ture, be located in the Corbett building, where they will continue their business of handling stocks and bonds. Brokers Are Accused Of $150,000" Theft Fort Worth, Texas. Sept. 25. f I. N. S. ) Roy K. Smith and A. E. Smith, brothers, were charged Wednesday with embezzlling $150,000 of the funds of the Bank of Desdemona and the Sipes Springs bank, a short distance wost of this city. Both banks have been closed. The brothers were employed in the banks. PACIFIC COAST BANK STATEMENT Portland Banks This "eek. . 7.912,(146.15 S.7SA.S12.77 5.P69.4 5O0S . 5.SS7.4SH.71" flea rings M onday . . , Tuesday . . . Wednesday . . Thursday .. . Tear A en. 8.395,726.06 4,!i3.717.57 5.081,547.12 5, 231. 075.25 Spokane Banks Clcarinss Tliuryday $ 2.143.52S.00 Balances Thursday 692,460.00 Seattle Banks Oearincs Thursday $ 7,475. 57K. 00 Balances Thursday 1.768.879.00 San Francisco Banks Clearings Thursday $21,609,830.00 Los Angeles Banks Clearings IhursOay ......... f 7,610.424.00 pikantgiAl, BREVITIES C. T. D. Case of tl.t oanasian Bank of Commerce returned this week from an extensive hunting trip on Vancouver island. His party packed in into the mountainous part of the island and bagged two bear, three deer and found grouse plentiful. ... Thursday. November 2f. will be Bank ers' day at the Pacific International Livestock exposition, to be held at North Portland. ... A. B. Leach & Co.. Inc.. and W. D. j Souders & Co. have bought an issue of $3,500,000 J. I. Case Plow Works com pany 7 per cent first preferred stock. These houses will form a syndicate and offer the stock in the near future. ... Thomas W. Lamont of .1. P. Morgan & Co. has issued a statement dei-yir.g the report that Mr. Morgan, v. ho is in Kurope, was in favor of a plan by which the l'nited States should guarantee war debts of foreigit nations. Cm the con trary. Mr. Morgan believes, as do all his partners, that to have the United States guarantee foreign debts would be as unsound and unwise economically for the foreign nations as it would be for the United States. ... Proctor & Gamble, pioneers in the movement to establish friendship be tween capital and labor, has decided to elect from each of its three plants an employe to serve on the board of di rectors. Wall street gives this company credit for fishing ahead of the net in its relations with labor. Banking Iijstitute Opens New Class In Commercial Law Portland chapter, American Institute of Banking, commenced its fall educa t:onal program Tuesday evening at the chi.pter rooms in the Oregon building, when Instructor Hendricksen enrolled 50 students in the commercial law class. The delegation leaves to attend the annual convention at New Orleans with the avowed purose of bringing the na tional convention of 1922 to Portland, and in its efforts it will have the hearty si'piort of San Francisco chapter, as well as the assistance of all Pacific Northwest chapters. National City Co. Sends G. Weeks on Mission to London George K. Weeks, vice president of the National City company, has been j sent to London to carry on an investi- j gation relative to the European situa- j tion in the interest of the National City I company. Mr. Weeks was formerly in I charge of the Pacific coast organixa- I tions for his company and former chair- man for the Liberty loan organization j for the Twelfth federal reserve district, with headquarters at San Francisco. He recently returned from the Orient after establishing an office in Tokio for his company. Weeks will remain in Lon don indefinitely. George Winchester . Named New Cashier Marshfield, Sept. 25. George Win chester has been named cashier of the Bank of Southwestern Oregon to take the place of Ralph Williams, who re signed to become president of the Scandinavian-American bank. Winchester has been with the Bank of Southwest ern Oregon for nearly 20 ears. Mair Dano was named as assistant cashier. Marshfield Council j Votes Special Bondj Marshfield, Sept. 23. The Marshfield city council has voted a special bond ' issue of $23,418 to meet the indebted- ness incurred by street improvement and sewer work, a great amount of ! which has been started this summer. I "Tour Bond House Like Tour Bank Must Be Safe and i . Serviceable" A Wide Range of Good Securities Yielding From 4H to 7 HERE is a list of offerings affording a splendid opportunity for the small investor as well as the larger capitalist: Maturity Due Price Yield Amount Security Optional $31,000 State of Idaho Highway Bonds 4'.iv 193. 99.40 1 oj .'S.fiOO State of Idaho Highway Bonds 4- 'c 1930 10J.6i 4.55 30.813'tPortland, Or., Improvement S' (Kst) 1V25 106.63 4.80 23'067tPoriland, Or.. Improvement 6" (F.st) 1922 103.32 4.IS0 13 OOot City of Independence. Or.. Kefdg 5,iri 1920-1932 to net 5.10 50000 Idaho Co.. Ida., Liraugevjlle 11. !.... 51. 1929-1939 102.31 6.20 ' 000 Clear Water Co.. Ida., N. Fork H. U. 5'. 1932 105.1.-) 5.20 1 t'nno ' " " " " 5 1933 105.42 5.20 y'OtiO " " " " " &3s 134 105.68 5.20 VoOO - " " " " 54 ' l'Joo 105.93 5.20 q'ouO " " " " " 1936 106.16 5.20 j,'0(j0 " " " 5 193T 106.38 5.20 14000 " " " " " 54 1938 106.58 5.20 9000 " " " " " !?4 ' '939 1U6.78 i.20 it. OOot Oregon City. Or.. Improvement 6' (Kst) 1922 102.20 5.20 1 851t 'ity of Dallas. Or., Improvement 6 (Kst) 1921 101.41 5.25 3 813 City of Dallas. Or.. Improvement 6 rt (Kst) 1921 101.07 5.25 90 000t City of Medford. Or.. Refunding 6 re 1933-1931 107.28 5.25 2.045j City of Carlton, Or.. Refunding 6 (Kst) 1922 101.61 5.40 4.000 Silverton. Or.. Improvement 6'" (Kst) 1921 101.12 5.40 lO.OOOf Ochoco Irrigation District 6' 1938 100 00 6.00 1 000 Pullman. Wash.. Imp. L. I. D. No. 25. 6 (Kst 1920 100.00 6.00 1 200 Pocatello. Ida.. Imp. L. I. D. No. 11.. 64rc(Kst) 1922 101.1.'. 6.00 5.00t Warm Springs Irrigation District 6". 1938 101.00 5.91 SOOOt " " " " 6' 1939 101.00 5.91 7 000 " " " " 6ri 1940 101.00 5.91 SOOOt " " ' " 6' 1941 101.00 5.92 , 000 " " " 6 1942 101.00 5.92 lo'oOOt " " " " 6re 1943 101.00 .92 9 000 " " " " 6re 1944 101.00 5.92 12000 " " " " 6 1945 101.00 5.92 24 000 " " " " 6rr 1946 101.00 5.92 39.0001 " " " " 6'e 1947 101.00 5.92 All of the above bond are entirely exempt from federal Income Uses. SHORT-TERM GOL1J JfOTES 4.000 The Maytag Co.'Gold Notes 6'i 1922 98.75 6.50 5,000 " " " " " 6rr 1923 98.00 6.60 .5.000 " " " " " 6 1925 96.40 6.75 .1.000 " " " " " 6re 1928 95.05 6.75 4,000 " 6' 1929 94.65 6.75 RAILROAD BONDS 4,000 The Cleveland. Cincinnati, Chicago & St. Louis Ry. Co. (the New York Central Lines) 6 'r 1929 9S.00 6.2S PREFERRED STOCK 35.000 Pacific Power & Light Co Preferred 100.00 7.00 Indicates legal for postal savings funds. lndicates legal for deposits of state, county and city funds In Oregon. Complete descriptive circulars of the above issues mailed on request. Orders over the telephone or tele graph at our expense. CLARKE, KENDALL & Co., Inc. Government, Municipal, Corporation Bonds Fifth and Stark Portland, Oregon E I IS Business Failures- Decrease and Bank Clearings Show Very Decided lncre?.se. Business conditions in the Twelfth federal reserve district during the past month have been characterized by ac tivity in manufacturing, and increasing activity in nearly every line of whole sal.: and retail trade, according to a rtport of general business and agricul- ti.-ral conditions in that district by the federal reserve bank of San Francisco. ' Retailers report a considerable increase ; in the value of sales over the previous j month, and an increase of from 20 to 3.1 per cent over the same period in j l'.'lS, while wholesalers report insuffi- : cient stock to meet demands in several ' lii-es. Collections are axceptionally ' gor d. However, some hesitancy is re- ; ported in the placing of orders for future delivery for fear that the failure to j prcvide the necessary credits in this cr.untry for foreign buying may bring about a resale in domestic trade of goods O'iginally contracted for export. The harvesting of grain, excepting corn and rice is now practically com pleted throughout ,- the district. The movement of the heavy crop of Wash- ' ington and Oregon apples is well under way at prices which will yield the i grower approximately $2.25 per box as j compared with $2 for last year's crop, j A slackening demand for lumber is! noted in the Northwest. In Washing-! ton and Oregon the reports of an aver- j age of 127 mills show a production dur- tng the four weeks en.ded August 30 of j 330,438,202 feet, which is below normal j by 6Vi per cent. Orders accepted were i below production by 27V4 per cent and. shipments below production by 9 per cent. This condition, together with a ' shortage? of cars, will result in building , u yard stocks, which had been reduced i to about half of normal. On August El OF BUSINESS CONDITiON Ifl TWELFTH NSfflC BRGHT CONDENSED REPORT OF THE CONDITION OF The First National Bank Security Savings and Trust Company . At the Close of Business September 12, 1919 RESOURCES Loan and discounts U. S. bonds i Other bonds, etc Stock in Federal Reserve bank Bank premises and other real estate Customers' liability under letters of credit and acceptances Due from U. S. treasurer Cash on hand and in banks -Total. LIABILITIES Capital stock Surplus and undivided profits... Circu'ation Letters of credit and acceptances. Deposits Total "Flrat Choone Your Bond House and Then the Bond" 30 there was a balance" of unshipped rail orde.s of 8406 cars and of u i shipped cargo orders oi 103.564.372 feet. Business failures In the Twelfth dis trict during August, as reported by Bradstreet's, numbered 30. compared with 50 for the previous month, and 91 for AurufI, 1918. Total liabilities involved were $414,889. compared with $5fl,106 for the previous month and $600,745 for August, 1018. Interest rates remain unchanged, vary ing from 5! to 6 per cent in industrial LIBERTY BOND SALES Liberty bonh closed In th New Tors market at following vrioea Victory SHs lt4 2d4 1,148 2d4V,s 3.1 4 . 4U. 4 "4 s S 4 Friday 100 00 95 10 93 7 9i 1 ii '.1.H.7S !'.Vit4 !( -Ml li H2 Saturday ....100.00 95 00 93. so 95.12 94.24 9ft 70 93. M 99 ffil 90 93 Monday 10O.OI ns.ltn 93.9i 95 1 94 20 l:. 84 93.90 !Hi 99 92 Tuesday 100 06 95.10 03. S 95.20 94 20 911 04 93 9H 99 9 99 92 ; Wednesday ...100.06 95.20 94.20 95 30 94 34 Oil. 50 94.54 99 Sill 99 U2 i Thursday 100.04 95 10 94 34 95.20 94 44 9(1.54 94.10 99 9H 99 93 Wilson, Heilbronner Co. Announce Their Acquisition of the E. F. HUTTON & CO. Wires and Service and the Offices at ' 201-202-203 Railway Exchange Bldg. Tliej have direct wire connections with every exchange In the counlrj, and will buy or sell any Railroad, Industrial, Steel, Copper, Grain or Cotton Storks or lionds traded Id. VOLU BUSINESS IS CO! RTEOUSLT SOLICITED. Wilson. Heilbronner Co. THE HEILBK05NER CO. Butte, Mont. Correspondents: F. F. Hl'TTON CO., New 1 ork 1. A VIE NT, CI'HTIS A CO.. Chicago. HAYDEN, STONE A. CO., notion AND The First National Bank $23,854,699.65 I 6,103,223.81 1 2,85 5,580.5 1 I 105,000.00 j 897,575.80 I i 1,125,902.50 I 75,000.00 9,872,966.21 1 544.8S9.948.48 !The First National Bank $2,500,000.00 1,333,605.46 . 1,499,995.00 1,129,562.50 38,426,785.52 $44,889,948.48 We are members of the underwriting syndicate and offer, subject to prior wale $3,300,000 A. 0. Smith of Milwaukee, Wisconsin, 5-Year Sinking Fund 6 Gold Notes DATED Uctober I, 1919. Largest manufacturer-, in world of pressed steel auto mobile and motor truck frames. Anion", largest customers are Studebaker, Dodge. lJuick. Mitchell. Chevrolet. Oakland and about sixty others. Before giving effect to new financing: Tidal assets over $1 1,000. 000; current assets nearly $8,000.0oo: net earnings, after taxes, nave averaged approximately eight times interest charges for the past six years. This note issue constitutes company's only funded debt. Price: 97.25 and accrued interest, to YIELD OVER 6.65 Complete details gladly furnished on request Lumbermen's Trust Company Bonds, Trusts, Acceptances Lumbermens Building Fifth and Stark Six Hundred Thousand Dollars in Capital and Surplus ROBERTSON & EWING LIBERTY BONDS FEDERAL TAX EXEMPT New York Quotations, ryt Interest Included. U (,' Flrt 4. 641 BONDS Second 4a i.7 -V-r A-raJ First 4V9 6.4 Local Securities second 4V i.95 LO'-, securities Third 4V . " . Fourth 4Va .43 207-8 Northwestern Bank i Victory 11.61 BuildinK We Bnjr and hell Any Amuut. PORTLAND. OR. centers and averaging 8 per cent for agricultural loans. Bunk clearings In the 20 principal cities of the district during August were 0.?6 per cent greater than for the previous mot th, and 29.47 per cent gi eater than for Aug 1st, 1918. Increases over July. 1911. are shown by Spokune of MM per cent, Portland 7.82 per cent. Seattle .'..Id per cent, while decreases are shown In Los Angeles of 5.76 per cent. Salt Lake 1.31 per cent, and San Francisco o;62 per cent. rOETLATfD. OREGON Phonesi Main !"3.M Security Savings and Trust Co. Combined l,SOO,564.33 1,053,745.03 6,000.00 1,658,822.75 J25.65S.263.98 6,103,223.81 3,909,325.54 105,000.00 897,5 75.80 1,131,902.50 75,000.00 1 1,53 1,788.96 $4,519,132.11 i I $49,409,080.59 Security Savings and Trust Co. Combined $ 250.000.00 ! 295,622.1 1 ! i 6,000.00 3,967,5 10.00 ; $4,519,132.11 I f 2,750,000.00 1,629,227.57 1,499,995.00 1,1 3 5,5 62.50 42,394,295.52 $4-9,409,080.59 Corporation DUE October 1. 1924.