14
THE- OREGON SUNDAY JOURNAL, PORTLAND, SUNDAY MORNING, JUNE 20,, 1920.
EXPORT VALUES i
FIRST 17 DAYS OF;
. JUNE S4.B55541
sens i i
Shipments From Portland Include
Wheat, Flour, Lumber, General
- Cargo; lumber Outlook Good.
'' Value of exports for the first 17
days - of June from Portland total
4,55,541. This includes wheat
flour, lumber and general merchan
dise for offshore ' ports. Statistics
compiled by the Merchants Exchange
show that three vessels carried full
cargoes of flour, totaling 229.659
parrels valued at $2,611,766. One
full cargo of wheat was dispatched,
that on . the . West Camak. 256,963
bushels; valued, at .1625,000. 1
- Six steamships and three sailing
vessels cleared with 'lumber. With, the
exception of the Faralso and the
Pesllle, .clearing for . the West 'Coast,
the steamships -are bound for- North
China. The three sailing vessels .are
bound for Australia. . . . i
The nteamship West Nomentum, dis
patched by the Columbia-Pacific Ship
ping company,' finished at Preacott and
cleared from Astoria. She was the
heaviest, lumber packet , of the lot and
carried over 4,000,000 feet. The value
of this cargo wtU bring the . total of
exports ' from the Columbia for -the
first 17 days of -June close to the five
million mar. ' -
Lumber exports for the balance " of
the month will be short but wheat and
flour shipments will advance the grand
total for June to a record figure. Prac
tically all the tonnage in port and due
will take cereal out. - i
KTEAMKIt HASSLO TO BE j
SHIlbrOlS TEMPORARY HOME
William McMurray, passenger agent
for,the O-W. R. & N. company, has set
aside the steamer Hassalo for housing
purposes during Shrine week. The
steamer will be moored at the foot of
Washington street and will be capable
of berthing 310 persons each night dur
ing the week. Arrangements have been
completed for a table d'hote dining room
service and over 600 meals can be
nerved dally. - !
Additional berthing for persons dur
ing the week has been arranged for on
the steamer J. N. Teal, at the foot of
Taylor street. Capacity of . tYt Teal Is
limited to 60 people and no meals will
- be served on board. It was the original
Intention to place the steamer T. J.'Pot
ler in service as a.floating hotel, but
renovating the craft would entail too
much time and expense. The Hassalo
has- been thoroughly overhauled and will
go into -commission on the Astoria
beach run July 1. The Harvest Queen
is now making daily round trips, con
necting at Astoria with the Nahcotta
tor North Beach points. ;
UPPER COLUMBIA EXCURSION
. SERVICE STARTS OX JUNE 2
Tuesday, June 22, will mark the be
ginning of the excursion season on the
Columbia between Portland and the Cas
' rade Locks The steamer Olympian of
the, Northwestern Transportation com
pany will be placed in commission on
that date and will make dally trips,
leaving Portland at 9 a. m. and return
ing at 5 p. m. Captain Prank J, Smith
will personally conduct excursions andf
pom i out me many places oi msionc ana
legendary Interest. In Indian legends
and old time river history Captain Smith
ranlis as dean.
STEAMER NORTHWESTER? TO
BE IDLE CONVENTION WEEK
During the period of the Shrine con
vention the steamer Northwestern oper
ating between Portland and Lewiston,
Idaho, will remain idle. The boat was
scheduled to leave up Friday night but
sailing was postponed for one week. On
the down trip the Northwestern brought
60 passengers and a full cargo. Passenger
accommodations are booked full for the
up trip next Friday.
ALL ALONG THE WATERFRONT
The steamship Rose City is due to
arrive in Portland this evening with paa
fwmgers and freight from San Francisco.
She sailed from the Bay City Friday at
- noon.
The steamer Multnomah of the Mc
Cormick line is due- at Portland Mon
day night. She has freight for the Parr.
McCormlck line and passengers from
ban Pedro and San Francisco.
The barkentine Katherine Mackall la
working lumber at the Inman, Poulaen
The Standard tanker Atlas is discharg
ing gasoline at the Linnton tanks. She
will leave down this afternoon.
Sold to llm Firm
San Francisco, June 19. The topmast
schooner Lily a, familiar figure years ago
in the lumber trade between - Oregon
ports and San Francisco, was sold yes-:
terday by the Gardiner Mill company to
a Los Angeles firm. The vessel will be
used in moving picture work in Southern
California.
News of the Port
MA HI WE AIMAKAC
Atlas, American steamer, from Sea FtdcUoo,
Toaemita, At" " steamer, from Honolulu,
D apertures June 1 .:. .
Bantu. American steamer, - for Immincham,
En . wheat and 1 umber. -
Dei? Matthews, American steamer, from Et,
Helena tor Han Pedro, lumber.
Tides at Astoria MotvUrr
Hih Water ' Low Water
4:12 a. m. 8.1 feet 11:00 a. m.. -O.l foot
:! v to.. S.4 foot 11:43 p, m.. 2.1 feet
Colombia Iliter Bar
. North Head, June IS. Condition M the
tea et a p. m. : sea stnootn; wind northwest,
a mJea.
LOCAL DATA
Portland. June 19 Highest temperature. 78
decrees; lowest temperature, 50 degreea. , Kivel
reading-. 8 . m.. 14.5 feet. Change in last
Si hours. o. feet. Total rainran (5 p. ra
tt ft t. m. 1 . none :" total rainfall since Birm.
ber 1. 1918. 83.32 inches; normal rainfall
sine September 1, 4S.38 inches deficiency of
TKlnrau smoe BeptemDer 1. 1U.14 tnchwt.
ftunrna. 4:1ft a. nu; sunset. 8:05 p. m.; total
t-rnhioi 1 hours 4ft minutes- puanble con.
bine. IS hours 46 minntea. MooBrbe. 8:22
SICK OR WELL. USE
Vroiu u iTy
- HealtJi Restorer,
r - Energy Producer.
A 1 rrrr t FJfrf rif .Ho:
e. aajj lxav saaewwva s.. w
423 VasKinston, Near 11th
Croadway 720 Portland. Or.
a ra.; mooiwrt. 10:20 p. n. ' Barometer (re
duced sea level), ft p. m., 80.22 inches. .; Rela
tive humidity, B a. to.. S 7 per cent; noon.
89 per cent; 6 p. m... 33 per cent. - -
i
' Basin
AT NEIGHBORING PORTS
' Astoria, June 19. Sailed at 0:05 -a, m..'
etusmer Weit Nomentnm, for trial trip. Ar
rived at 4:50 and left tip 10:15 a. to., steamer'
AUaa, from Sao FrancJecoi left np at 11 last
nisht, -steamer Tonemite, from Honolulu. Ar
rifed at ooon and left up 1 P- m-. steamer
Solano... fnna Sao Pedro . via, 8a Francisco,,
Returned at 6 p. m.. steamer West. Nomentum.
from trial trip. , .
- Ban 'redro, June '18. -Sailed at p. m
steamer Kf finiham, for Portland via 'Ban Fran
oisca. - Baa Ftaneiaoo, Jane 18. Arrired at 4 PL nv.
steamer ArrrU, from Portland. . . -
8aa Francisco. June 19. (I. N. B.) -Arrired:
Brunswick, from Fort Braes, at 6 a. m.;
Yellowstone, front Coos Bay, at 6:15 a. m.;
Phoenix, from Mendocino, at 6:20 a. m.; Hum
boldt, from Los Ancelea. at 7:40 a. m. ; CelUa,
from Los Aneeles, at 6:10 a. m. : Willamette,
from !xs Ancelea, at 8 30 a. tn.; Mazatiao. from
Topolobampo, at 7 20 a. m. ; Coalings, from
I'sio Blanco, at 95 a. m. Cnhnak. from
Union Jjandinc, at 1 1 a. ra. : barge B. at.
I'hetpa, in tow of tog Sea King, from Port San
Lois, at 10:80 a. m. Sailed Cleone, for Pigeon
Point, at 12:10 a. m.: Whittier. for Port flan
Lois, at 0:55 a. m.
Seattle. Jnna 19. ft It. S.l Arrteed:
Steamer Col. K. L. Drake, from San Pedro, at
o a. m.: Alaska, from T acorn, at 9:30 a. m.
SailedSteamer City of Seattle, from Sonth
e astern Alaska, at 10:25 a. m.S Toyo Hasni
Mara, for T scorns, at lO :SO a. m. ; President,
for Sas Pedro via San Francisco. ArriTed, June
18 -Strainer Diablo, from Arica Tie San Pedro
and Tacoma, at 11:45 a. m.: Brookdale, from
iteiUngnam. at 7:45 p. m.: U. S. L. 8. Swift-
sure No. 03, from sea station, it 11 a m.: yacbt
Aqullo. from Tacoma. at 1 :80 d. m. ' Sailed.
Jane 18 Steamer Haitnm.- for London and
Liverpool, at 11 p. m.; Mandaaaa MsroJor
Tokonama and Kobe, at 7 p. m. ; Saginaw, for
Tacoma. at 2:20 p. m. - (
Seward. Jane 18. (1. K. 8.1 Railed:
Steamer Alameda, southbound, at 4 p. tn. .
SUka, June 19. (L N. 8.) Steamer Spo
kane, southbound, at 8 a. m.
aetchikan. Jane 18. (I. N. B.l BaUed:
Steamer Catherine D., northbound, at 8 p. m.
Yokohama. June 18 (I. N. S.) Arrived:
Steamer Kobin Goodfellow,. from Bellingham.
Kobe. June 18.--(L N, S.) Arrired:
Steamship West Jena, -from Seattle.
Honolulu, June 18. (L N. 8.) Sailed:
Barkentine Conqueror, for Puget Sound. .
Yokohama. June 14.- (L N. S. 1 Arrived :
Steamer Afaauan. from Seattle: Emnreaa of Rus
sia, from Vancouver.
Fort Pan Luis. June 17 (I. At. S.I
Sailed : Steamer Rich ConcaL for Honolulu.
Victoria. June 18. (I. N. S.t bailed l
Steamer TahiU, for Sydney, at midnight.
Passed Barkentine Jane L. Stanford, in tow
tug Fearless, , tor Vancouver, at 3:40 p. m.
Passed out Steamer Shinbu Mara, for . Xoko-
aama ana A.ooe, at 1 a. m.
-Blubber Bay. June 18. (I. If. ftt Arrived:
Steamer Nome Cits, from Seattle via Tacoma.
Comox. Jane 19. 1. . N S.) Arrived:
Steamer Agron, from Everett. June 18 Ar
rived : , Steamer Clan Alonroe. from Philadelphia;
Luceric, from Singapore.
Tacoma. June 18. (I. N. 8.) Arrived:
Steamer Georgina Bolph. from Seattle, at 7 a.
m.; San IMegO, from San Francisco, at 2 p. m.
Sailed ltotorabip Balcatta, for Vancoaver.
WEATHER
Portland and ricinity Fair and - warmer;
weeterly winds. -' i " -.. .
Oraeon and Washington Fair - and warmer:
moderata) westerly winds. . - - f
OBSERVATIONS ' .
c -Wind.. '
I . O 9 . - .- a. -
k i .
niir - -
74 . 0 7771 N Clear.
80 0 .... W Clear!"
66 . 0 . . . . - K PL Cloudy.
V ' 6 ' ' i 2 " N Cldudy
84 .06 12 NE I Clondy.
74 0 . E Cloudy. .
84 0 18 NW Clear.
82 .08 ,... SB Pt. Cloudy.
72 0 10 W Clear. -
152 .08 Calm Cloudy.
72 O 12 N Cloudy.
80 0 SW Clear. ,
74 O 13 NW near.
88 0 12 NW Clear.
78 ');,.. NW It Cloudy.
84 3.56 .... SW Raining
70 .04 .... S Cloudjr.
. .... 4
108 - .i.i W Clear.
78 0 .... W Clear.
78 O NW Clear.
88 0 10 N Clear. '
104 ,0 ... NW Clear. -
74 " 6 NW Clesr.
64 0 .... SW Cloudy."
92 0 20 W Clear.
70 0 16 N Clear.
158 .10.... . N Cloudy.
78 f O 12 SW Clear.
72 0 10 W Clear. '
56 t O .... BE Clondy.
148 00 .... Calm t Raining.
82 0 ...... W Clear.
70 ,'0 .... E Raining.
74 0 10 8 Clear.
84 0 .... KB Clear. 1
STATIONS.
Baker
Boiae "
Boston . . . .. .
Calgary
Chicago . .. . . .J
Ienver . ,. . i
Des Moiaea.. .
Eureka .....
Galveston . . .
Helena .....
t Juneau
Kansas City. ,
Los Angeles . .
Marshfield . .
Medford . . . .
Minneapolis .
New Orleans..
New York.
North Head..
Phoenix
Pocatello . . .
Portland . . , .
noseburs . . .
Sacramento . .
St. Ixxnis. . u .
Salt Lake....
Saa. Diego. . .
San Francisco
Seattle .....
t Sitka
Spokane
Taootna . . . .
Tatooeh Island
tVlliln
Wafta Walla..
Washiaston .
WinniDes ...
Yakima ... . .
a. m. today. . i p. m. report of . preceding
day!
Fire Hose Is Used
To Save Negro From
Mob at Birmingham
Birmingham, Ala, June 19. (TJ. P.)
Quick action on the part of police in
rigging up a fire hose and throwing a
heavy stream of water ; into a mob of
2000 . or more people about to storm the
city jail blocked an attempted lynching
here tonight. .
An unidentified negro, intended' vic
tim of the mob. had insulted a white
woman. It was said, and clashed two
white men when an effort was made to
capture Kim. He was beaten badly be-
rore tne ponce finally rescued him and
lodged him ia the county jail.
Children of Pioneers to Meet
The Sooletv nf . Snn anH nnsk
of Oregon Pioneers ' will hold their an
nual reunion and election of officers
at Library hall June 30, ath 8 p. m.
A musical and literary program will be
given by talent of the descendants -of
the pioneers immediately after the elec-
Officers and directors are Benton KU
lin. crewident : Hirv fi. aorvmatk.
vice "president; Miss Lilian M. Hackle
man. secretary t ami treasurer ; Milton
A.. Miller. 1W. "B. Crane y M r
Mrs, A. B, Crossman. ' J. W. Mlnto and
Jnrs. . is. Huston, directors.
OREGON SHOOKS FOR HAWAIIAN FRUITS
rrm
l
t- .
A
r
1
s
j L
I
Steamship Dell
(Furnished by Herrin Ac Bhodea, Inc.)
United Ketail Stores declared .com
mon stock dividend of 5 per cent, pay
able August 16, to stock or record Au
gust, 2. ,
, - f '!-'
Central Railway of. -New . Jersey, de
clared a special dividend ; of 92 per
share, payable June 30, to stock of. rec
ord June 25 ; also 'regular .semi-annual
dividend of S2 a share, payable August
Z, to stock of record July 20. -.,
TJ. " S. Food Products - company . ,de-
per cent, payable July 19, to stock of
record July 2, ." -'
Commission . permits. Hew Haven T to
Issue $11,000,000 debentures to retire de
bentures or Providence . Security com
pany. ; ... j i ; . . ; - ' i ,
(Fnrnifbed by Overbeek 4k Cooke Co.) 5 -
. Northern Pacific . railway declared
regular- quarterly dividend . of 1, per
cent, f . ; . " -' f. , - -
' May crude oil production in Califor
nia totaled 278.323 barrels daily, an in
crease of 344S daily, compared with
April, according to Standard Oil of
California.-
t ..... . .- -f - r -.' i.-'...-
!-- -i-'-.r :-. swswaswasvawaesw. - -,-f
"Kennecott -Copper May outputs 9,311,
000 pounds. i '
FIRST NATIONAL
ISSUES BOOKLET
wwawssvvy4waswses..-s
Local Institution Is Ideal; Has
Combination of, Progressive and
. and' Conservative.
' : Time was not so long ago at that
when any sort of a building, pro
viding it looked substantial enough,
would do to house a bank. But no
longer. Banks of today are housed
in ' buildings in .. keeping with 1 the
dignified nature of their business.
" Portland can boast of one of the fin
est examples of pure Greek architecture
to be found in America. It is the First
National Bank buildingl " ' ' -
The First National bank, famous as
the first national, bank. . west of the
Rockies, is the ideal combination of, pro
gressive ' spirit guided by old fashioned
conservatism. And this idea is carried
out well in an artistic r booklet ' which
they have just issued. ; ; ' -
It is artistic in conception, the art
work is by Harry "Wents, art director
of the Portland Art museum, and the
illustrations are of an exceptionally high
order. ' They give the impression .of very
fine etchings with , combination ' .of
strength and delicacy that is quite un
usual In commercial Illustrations.-!
The booklet - gives a brief . sketch of.
the history ot the bank 'with interesting
notes about the early days in Portland
and Oregon, when ; Portland's rapid
transportation depended upon "a horse
drawn car that ambled up and down
Washington street at intervals. . - - -,
The various departments of th bank
are described and the booklet tells in a.
simple manner the ways in which ' a
great modern bank, such as the First
National, can serve its customers. , l
Investor Looks With
Favor on Northwest
Municipal Bouds
There has been a very good movement
in Northwest municipal bonds during the
week, according to a report from Morris
Brothers, Inc. .f The . market continues
favorable to the investor, with prices for
there high yield securities remarkably
low and the yields high.
A feature of these bonds which has a
considerable appeal to investors is that
they are for the upbuilding and improve
ment of various Northwest communities.
While the Investment in these yields large
returns, the investor has also the satis
faction of knowing that his or her money
is going to help further develop this big
section of the United States and thereby
be of general benefit to this region. ,
City of Sonoma 6 .
Per Cent Bonds Are
To Be Flit on Sale
. Uelivery has just been taken by Free
man Smith Sc Camp company of 3S7.0OO
city of Sonoma, California. 6 per ; cent
bonds and they will - be placed, on sals
both here -and from the San Francisco
office of the company, v
The bonds mature serially from 1921
to 194S and are being -sold to net in
vestor 6.88. Sonoma is located in the
famous Valley, of the Moon, 45 miles
from San Francisco. . The estimated real
value of the city, is 31.821,900 while the
bonded debt, including this issue, is only
376,500. The bonds were Issued to pay
the cost of paving' the principal streets
and extend the .sewer system.
y -f
r
wood, fxnder CJapiaia OTiHen. starts
X
LIQUIDATION
FEDERAL RESERVE
SlEMEHT: SHOWS
SLIGHT CHANGES
Gold Reserves Make Increase of
'4.2 Millions and Cash" Is Up
, 3.7 Millions.
Moderate liquidation of discounted
and purchased bills and a corres
ponding reduction in deposit liabili
ties, also deer ease In federal reserve
note circulation,, are indicated in the
federal reserve board's weekly bank
Statement issued at the close of bus
iness on June 11, 1920. The bank's
gold reserves show an increase of
4.3 millions and their total cash re
serves an increase of 3.7 millions.
The reserve . ratio shows a rise . for
the aveek from 42.5 to 43 per cent.
As against an increase of 7.5 millions
in their holdings of paper secured " by
United- States government obligations
war paper), the reserve banks show de
creases of 4S.8 millions in - other . dis
counted paper and of j 6.8 millions in
their holdings of acceptances purchased
in open market. Treasury : certificate
holdings went up S.3 millions. largely at
the New York and Philadelphia reserve
banks, while total earning assets show
a net reduction for the week of 42.8
milliona
' Of the total war paper. holdings of
1,440.9 millions. 651.9 millions, or 45.2 per
cent, were secured by i Liberty bonds,
275.4 millions, or 19.1 per cent by Victory
notes, and 513.6 millions, or 35.7. per
cent by Treasury certificates, as against
43.7, 20 and 36.3 per cent of a total of
1,433.4 millions of wan paper reported
the week before. . Total discounts heid
by the Boston, New Tork and Cleveland
banks are inclusive of about 127 millions
of: paper discounted for -seven reserve
banks in the South and Middle West, as
agaift8t 132.8 millions the week before.
Acceptance holdings of the Cleveland
and San Francisco banks comprise 4.8
millions of bills purchased from the New
Tork and St. Louis banks,: compared
with : 6V4 millions reported at the close
of the previous, week.
Government deposits declined 14.9 mil
lions, while members' : reserve -deposits
show an increase of 11.5 millions. Other
deposits (including foreign government
credits and non-members' clearing ac
counts) show a decline of. about 33 mil
lions, while the "float"! carried by the
reserve, banks and treated- as a deduc
tion from gross deposits shows an in
crease of 10.6 millions, ! with the result
that the ' calculated net, deposita- are
about 27 millions 'less . than the week
before. -; V
5 Federal reserve ' note j circulation -declined
15.1-millions, the. New.: York and
Chicago banks reporting- considerable
reductions in outstanding 'circulation, as
against a further increase of over nine
millions in federal reserve note circula
tion reported by the Cleveland bank. An
increase of 3176,000 in paid-in capital re
flects .largely additions ' to capital- and
surplus of member banks irf-the Rlcn
mond. Atlanta, Chicago and Dallas dis
tricts. MARKET RISING
Good Report of Federal s Reserve
Banks Feature in Financial
Development.
. By Broadan Wall
- New York, June 19. The actual
bank statement today; showed sur
plus decreased S 41, 946,880; : loans
increased 843,400,000, t and net ' de
mand r deposits : 'increased - S 11,2 95,
000. .The average statement showed
surplus Increased 39923,980; loans
increased 820,456,000 i and net de
mand deposits increased 871,946,900.
This means that there is, an actual
deficit' of. $3,807,970 in reserves. '
The local federal reserve bank showed
a ratio of 42.5 per cent of total re
serves to deposits and federal reserve
notes combined compared with 40.6 per
cent a week ago.
RESEBVE BAKES STRONG
TTie better statement by the federal
reserve bank: more than counteracts the
bad statement by the individual banks.
The Wall "street money market is in
a stronger position than for some weeks.
'i. Stocks were strong today as traders
saw pool buying in many issues.
The leading' professionals - expressed
themselves as favoring a rising market.
They do this because the week should
See an end of political - uncertainty.
Buying of Lackawanna railroad stocks
was a feature of the day. It advanced
about 8 points on top of a good uplift
the previous session.
iiiiBiiB
on a long Jonrney
STOCKS
STRONG
OF DISCOUNTED AND PURCHASED BILLSINDICATED
NEW PRESIDENT 0F THE'
OREGON BANKERS' ASSNf
Jf.T V. Carpenter .
N. TJ. Carpenter was one of the organ
isers of the Oregon Bankers' association
of which h , was. "elected '., president at
its annual convention In Eugene. June
16. He was the ftrst'tnan to register at
its first convention held in 1906.
Carpenter has been actfve in the bank
ing circles of the state for the- past 19
years. In 1901 he organized the First
National bank:: of Ontario. In 1902 he
organised the First National bank of
Bums. -. : For several succeeding years
he was connected with the Citizens
National bank of Baker. Since 41911 he
has been president of the-Citizens' bank
of Portland an lnstituatlo'n which today
has resources in excess of 32,400,000.
, Since its inception Carpenter has been
instrumental in the activities of the as
sociation. Prior to his election - to the
presidency he - served the association as
its vice-president.
: Japanese trade condition continues
poor, balance duration of June being
very unfavorable. -
t - j
. V
V r
IM IX L.":
How Long W ould Portland People Pave Had to W ait'
had the Schwan Piano Co. not. fired its broadside at local high prices? How long wduld coast buyers have had to wait for lower
prices ? How long would they" have to wait for some one to quit talking about high cost of living and do something to bring it down?
It; would be interesting to know.
. til., ZX2
k . -115 I I I 8( PtAYEB feaap. J L' -w . htl PtAHO- 1 m .
J-l z i 1 1 826 Casa 7 J 818 aostttiy
12 W ill SIR Mnnthle- .l , -
I.
I ' STEGER PrATKR CQTC ,
9 I OUU $100 cash, 839 Monthly 2e7 O ;
Clearance Sale of
Last year,' to sl&esten the constantly rislnar costs, we contracted for more nlaaos
than needed, and. stored them, and now are offering the balance of these new 1919
models at prices way below present local market prices. This includes the sale of
the Hteger & -Sons Pianos ud : Player Pianos, the most valuable pianos la the
world, vist
PLATER PIASOS
Oar , Natural 'Playefs" -Are the Wonder
of This Age. Come, Hear .Them.
tlQilf. Hteger, Grand Player CQQC
tfluUU 310U cash, 326 monthly: v90a7J
1 1 Qflfl hteger, Pol. - Alah'ny PQfiO
w I OUU $100 cash, 325 monthly OOU5
1 1 Qflfl Steger, Famed Oai (QCO
w I OUU 8ioo cash. 32a monthly OOOse
1 1 nfl Stesrer, Grand, Oak OQC
e) I OUU 3ioucaahi 326 monthly; lOeVO
1 1 fin Steger, Grand, Malu igQeo
I OUU jioo cash, 326 monthly 0006
Cn eed A Sons,PolJttalw 7eri
11 OU 875 cash, 823 monthly O I UU
I I Rfl Reed SonsrlullJUah.t57QC
wit wU $7S cash, 32a monthly J 7e3
1 1 I Rfl Beed S11' Chip'd'le e7n
41 I 0U 375 cash, 323 monthly W luU
tinnn a" oak.... 7io
wl wUU $50 cash, 322 monthly O l ies
1 1 nfin ol Manog'y eCQC
I UUU $50 cash, $2L&0 mo. WUJ
rinnn singer,
Dull Walnat taSftt
w I UUU $50 cash
$21.60 mo. ilVe7J
limn Sinirer, PoL Walnut
$712
9 I UUU $50 cash, 322 monthly
Jinnn Slus-er, omi oak
slUUU 850 cash. 321.50 mo:
Singer, Golden Oak tffjne
a nnrs ki,,. null ok . . . sen
712
9 I UUU $50 cash. 322 monthly H 1
! I nnfl Singer, FolishM Mah.- JT- O
0 I UUU $50 cash. 322 monthly 3 XaW
? I flflfl Singer, Dull JOak.. .,
BiBgcr, iiBujuas., .-, .
$50 cash, $22manthly
$712
W I www
$1000 n&SgtSSi $695
1 1 nnn 8,ner p0u Mah-any 4571 O
a I UUU $50 cash', 322 monthly Off le&
tQfin Thompson, PoU Oak.. : v2C7C
dwUU $50 cash, 320 monthly UJ 4 O
tPnn Thompson, BnU Oak.. C9C
wOUU $50 cash; 319 monthly awOOO
CQnn Thompson, Gold. Oak (JCQC
awUU $50 cash. 319 monthly OOOO
CQnn Thompson; Sheridan . ftHp7tt
aOUU $50. cash. 320 monthly 9J 4 J
Isnnn Thamnsoa. Tlsll Oik 'eiie
a9uu (do cash, 319 -monthly
fOCn Mendenhall, PoL ; Oak., CQe
0UU $25 cash, 318 monthly OOJO
tORH Mendeshall. Dnll Oak 4fttOC
03U $25 cash, 318 monthly aOe70
(RRn Mendenhall. CiM. Oak CQC
aOUU $25 cash, 318 monthly iJl7J
tRCn Mendeshall. Golden Oak CCQe
a03U $25 cash. 18 monthly ?Oa0
oiir fimm rino bv nrntn vntiB mini oiroiiiu
On IE O I OU 1 U 40409 D I . DLItlU I
or traveling salesmen, and you benefit by
rtrt nnt mt.i vmi . -
I I9CDTV rftVnC IPnCDTCrr OslIC
Llsit.ni I bUilUO HUUti ILU OAtill.
observed? Why should you pay inflated
DnCD Yni9 DIAIn BY MAH Read,
WilWa.il vuii .1 initu Ml iinis mail-ordr buyers. We prepay freight and make delivery to your nome witnin zoo miles.
to your aoproval and subject to exchange within one vear. wo -allowing full amount paid. This virtually gives' you a one-year
piano or player-piano purchased carries with ft the Schwan Piano Co.'s guarantee of satisfaction ; . also the usual guarantee
Hl-183 TEXTH STREET .
AT, WASBllf GTOIT AS D
SXABK 8TBEETS
SILVER-BULLION
MARKET PRGES
t
DIFFER IN 0. S.
Unusual Action of Silver Market
Produces Difference in Price
for the First Time in History.
By Walter B. Brown
Editor the New York Commercial.
(Written for- the United Neva.) -
' New. York, June 19. Silver bullion
again has become & factor in stock
market operations. The action of
the silver market was most unusual.
Tuesday's price fn I London of 44
pence per ounce and Thursday's New
York price, of 80 cents," were ; the
lowest ) quotations ; reached ''-" sintje
March of 1918 and August of 1917.,
'. Silver bullion is quoted for 'the first
time in the history of the market at
two , different , prices, according to its
origin. Domestic . silver sold at .- 99
cents an ounce, and foreign silver at
90 cents. ' This of .course is , the result
of the announcement- regarding the
United States mint's proposed interpreta
tion of the Pitman law.
Recent speculation ha been based
upon the interpretation of the clause of
that- act providing for purchase of sil
ver bullion by the mint in quantity equal
to' the contents of the silver dollars
melted up and sold for export, but most
speculators overlook the clause in the
law which restricts such purchases to
the product of mines - situated In the
United States, and of reduction works
so located. All such purchases were to
be made at 31 per fine ourice or. approx
imately 99 cents to the miner."
The government has: evidently deter
mlnd to resume such, purchases and
bought ' 1,500,000 ounces and the market
price of silver certified to be the output
of American mines and smelting works
rose to that price accordingly.
Foreign silver not being eligible made
but slight recovery in price. The yearly
$15 and $25
All 1919 Models Way Below Local Market Prices
UFBIGHT PIANOS
Incladlng the Most Valuable Pianos la
the World, Vis: .
tQRfl Steger, Grand, Upright tfiC
0 JU $50 cash. 320 monthly dOlU
CQntl Steger, CIrcas. Walnut CCA C
wwUU $50 cash, 319 monthly 0040
tQfin steger, -Grand, Oak.. .. 4fe
wwUU $50 cash. 31 monthly OHO
$950
Steger, CIreas.. W'avlnnt 45aS7C
350 cash. 820 monthly vO f O
tOnfl teger, Pol. Clrt Wal. eCnj;
p OUU $50 cash, 318 monthly Oa70
tfiflfl steger, Mission Oak. yioi
40 UU $25 cash, $13.60. mo; Pe30
COrtfl Steger, nll Mah'hany 4fe7e
0UU $50 cash.- $18 monthly i0 i O
CQnn Heed Sons, L'ge Oak C0O
0OUU g-zs, cash. 317 monthly OuOes
$800
Reed Jc Sons, L'ge Mah.eeCO
825 cash. 317 monthly WUUa.
tRnn Keed M Sons, Pol, Ma. fjeco
0UU $25 cash. 317 monthly duOas
tRnn Keed Sons, Dnll Oak CO
OOUU $05 cash, $17 monthly dOOe
tRfin Keed V Sons, Pol. WaL fC0
dOUU 126 cash. S 17 monthly dODes
tRfin Reed A Son. Dnll Mah. CCCO
wOUU $25 cash, 317 monthly JOOs&
$7nn Keed U Sons. PoU Oak f Q R
01 UU $25 cash, 318 monthly ?a70
t7nn Reea Hons, ToU Wal. CA QC
IUU 325 cash, 316 monthly e70
tC7R Singer, Large Oak... GARQ
wUf l $25 cash, 316 monthly wHOO
2R7K Sisger, Dnll Oak..... GAfiQ.
001 J $25 cash, 315 monthly iiD
CQCn er, PoU Walnat... CCQC
903U $50 cash. 318 monthly ODVO
R7R slB"er b" Oak. fiAflQ
aUIU $25 cash 316 monthly O0O
tC7C Singer, Polished Oak.. 4A C Q
wUI U $25 cash, $15 monthly 0tOO
?RRn Thompson, Walnat ...
0U3U $26 cash, 315 monthly t300
Will Thompson, PL Oak... CACQ
tjOaU $25 cash. 315 monthly r40O
tfi7K Thompson, Dnll Wal... eqflC
9 J f U $25 cash, 313 monthly ?Oe70
R7I ''Mendenhall,' Mahogany JOQC
W w $25 cash. $12 monthly WUJU
th7h Thompson, Mahogany (OQC
wwf J $26 cash, 312 monthly aOe70
CCCn Thompson, Golden Oak (QOC
sUUU $25 caih. 312 monthly wOUO
CCCn Thompson, Golden Oak 4ZA4ZQ
aU3U $25 cash, $15 monthly WTrUO
tCCn Mendenhall. Oak ..... ftOQfi
s)U3U $26 cash.. 312 monthly WeJlO
UUil Ulllt OMLLOWlnil n(ntrt "mhnf
these fully 204 to 25 savings .We are
"" v v -. . .... ;'- ' ?
C PACtl TDIITUCIII " JtrWCDnCIHf!
AO UrtOII I HU I III UL nu f kil I Iwlil
prices? Your old piano, organ or city lot
study and compare our quality, prices
American output' 'has ' Jn- recent, years
been about one-third ; of the 'whole
world' production, but - sales of foreign
silver now . comprise also "the wholly
undetermined amount Of silver coined
in the European continental .nations
forced out of circulation by paper cur
rency and reduced to bullion, .
State Bankers Are
Guests of Students
Of University of 0.
University of Oregon, Eugene, June 19.
Friendly hall opened its doors vto- Ore
gon's bankers Wednesday noon, when
the whole of the state bankers' conven
tion meeting in Eugene was luncheon
guest of the university.
Two hundred financiers gathered about
the tables and ate the university dormi
tory food served by; the co-eda . It wi
the wind-up of the convention and the
delegates made a good-time of it in the
atmosphere of comradeship that per
vades the university . and its venerable
dormitory. , . -
In the absence of .President p.. L.
Campbell. Dr. -John Straub, dean of the
college ot liberal arts, presided. Speak
ing briefly in welcome, ho yielded the
response to N. U. Carpenter of Portland,
who in turn gave place on the program
to K. O. Blanchar of Hood River. ?
An additional touch of music and good
cheer was given when ;Oenevleve Clancy
of Portland sang; Alter the luncheon
the bankers were whlslced away for a
motor ride, but not until they had com
mented glowingly on; : the hospitality,
good fellowship and open heartedness of
the . university and the ; beauty of . its
floweririg campus.
Range in Prices of Liberty Bonds and
Victory Notes During the Past Week
OFFICIAL CLOSING PRICES
Liberty 3V4S, 1932-47......
Liberty 1st 4s, 1932-47,...
Liberty 2d 4s. 1927-43.,..
Liberty 1st 4s.- 1932-47; .
Liberty 2d 4s, 192742...
Liberty 3d 4Vs, '1928. .. ...
Liberty 4th 4s, 1933-38
Victory 38. 1922-23..
Victory 4 s 1922-23 ...,... .
$130 Steger 8976
f 10 Cash
- $39 Monthly
Sends Home Piano, $25 and $50 Sends Home Player
Downstairs Store
. " . ... .......
FACTOKT KEBC1LT PIASOST MADE
LIKE, MEW AJfD USED PIANOS
tQfM Stelnway A Sons, Mah. 4fIQlS
OwUU $50 cash, 314-monthly ePtaJiJ
JTCn stelnway A Sons, Up't 94C
wl OU $25 cash. 311 monthly D0
JOnn Steger Jk Sons, Oak... CIQC:
03UU $50 cash. .816 monthly SaJ5J
tRnn Kranleh A Baeh, oak. . CC
OUU $25 cash.- 312 monthly e4OOeJ
tRRn Conover, Dnll Oak.... tOI C
OOOU $25 cash. 810 -rronthiy W X 9
2K7K Mobart M. Cable, Man. eOQC
3I v 326 cash, 312 rrnonthly e3050
$17C Vose A Sons, Elwsy... MOC
w1! 3 $25 cash, $7 monthly a&00
tCCfl Singer, Colonial, ,..... OQC
I903U $25 cash, 812 monthly ptJi7aJ
CCfl Ebersole. Mabotrany .
$365
wwUU 326 cash. 81L60 m thly
CCfl Kimball, Large; Malfy -SOC
33U $25 cash. 311 monthly ej00
171. Davis A Son, Plain,
V w
325 cash. 17 monthly WesUU
tfinfl Singer, Largs ,Mahny ttOQC
vOUU $25 cash. 38 monthly J&a70
YRRn Automatic Mash Co... ttl CC
aU3U $25 cash, 36 monthly wlOO
$17K Melntyre A Goedaell. . C?At
sjHI 3 $26 cash, 37 monthly Wsfis'xO
9 Cn Collar d A CoUard...,. CC
A3U $25 cash. 33 monthly VU
t77f Bar C- Upright...
325 cash.- 34 monthly? ID
H3Kfl M Gn,T trprigiit.;,... 4$i r;
a03U $25 cash, 35 monthly wlOO
.tA7R Sterling, Mabogny f0e
l w $15 cash, $8 monthly OaCOiJ
XlRfl Hallet Davla,;fjpr'bt
wHUU $15 cash, 38 njpnthly Ae70
OH I U $15 .cash. 37 monthly Os&OO
M OR Dunham, Walnnt t15C
WVaS SIS cash. , 35 monthly 1 OO
$1000 $50 cash, 38 monthly $265
J7SED PLATKBj PIANOS
All Modem 88 Kotes '
tQnn Thompson, Fnmed.Oak ;eCC
03UU 860 cash. 317 monthly OOU3
360 cash.. 317 monthly
tQnn Thompson, Mahogany.. CCQC
03UU 350 cash. 318 rrsonthly OOaJO
$7Kn :-Co- MTogny ?MQe
01 OU $50 cash. $15 monthly IO
tRnn Wendenball. Oak ..... &AQZZ
OOUU $50 cash. 315 monthly 17 O
1 1 nnfl riemlste Oak fC9C
01 UUU $50 cash, 319 im'thly is000
Tlio Schwan Piano Co. makes it easy for you to buy and
rf rlistrlhution. it considers an unnecessary, for instance, srreat numbers of city
not interested in your name and address
,-. a " ... . . .
This store satisfies the people through
W Why sh6uld pianos not have
price
taken In payment.
and easy terms, as advertised, and you
PS
Edited by
ill F. Ilciiiaa
BANKS GOBBLE UP
EASY 0. S. KEY
Treasury Certificates in Large
Amounts Draw High Interest
But Are Beyond Citizens.
r The treasurer of the United States
announced the first part of last week
the issuance of two new scries of
treasury certificates of indebtedness
for a total of $400,000,000 bearing
interest at 5 per cent for the six
months certificates and 6 per cent
for the certificates maturing in one
year.'1 "T
Recognizing the opportunity of pur-
chasing government paper bearing Inter
est at a rate that has not existed since
the Civil war, the banks and heavy tax
payers of the country quickly responded
and ; within four days the amount was
oversubscribed.
Six per cent is an excessive rate for
the government to pay for its outstand
ing paper, lit : in a rate that could b
materially reduced, it is contended, if
the ; government would appeal to its
citizens, who so patriotically responded
to the call for money during the world
war. ' The announcement of this last
series of certificates, as In each previous
case, had a unwholesome effect on the
prices of Liberty, bonds and - Victory
notes, which bear a' much lower rate.
Mon. Tues.1 Wed.)Thur. FH. SatT
130TTl?(ro9190-fT2"00 9206 2 13
8S50 8530 8630 8t00 s.sr0 sftOO
8470 84SO 842 8500 KiiliO
8570 8580 8660 8A60 8574 860.S
8504 8504 8524 8514 8553 K5S0
8870 8882 8884 8880 8912 89:J3
8546 8550 8554 8552 8576 8614
9598 9578 9550 9560 9570 957.0
9592 9576 9548 9556 9570 9572
. 1
89 "
Tlsyer
$! Mosthly
1876 PIAKTO 1495
$26 Cash, 316 MoBthlj
Phonograph Dept.
Itew, Slightly Used and Seeoad-Uasd
tlQR Domestic, Cablnt, Mb. (
010l $io cash, 35 monthly O
$ Cn Tletrola, Golden Oak f
3U $io cash, 33 monthly
75
35
55
25
50
75
$ 7R Tletrola, Mahogany ...
I w $10 cash, 34 monthly O
NCUf Colombia Grafonola ...
C II 310 cash, 33 monthly O
NCW Colnmbia Grafonola ...(
t II 3lo cash, 34 monthly J
NCW Colnmbia Grafonola ...t
II $io cash, 36 monthly
NEW Colombia, Grafonola .. 4 1 OA
C II 310 cash. SS monthly UlasU
I OR Mnaie Land. Mabog'ny f
01 aw $io cash, 35 monthly w
$0C Lakeside, Hahogany C
O J $5 cash. 33 monthly
63
18
$ OR Phonograph. Mabog'ny 4 OC
O J 8io cash, 83 monthly J etiej
tlin Phonograph, Walnnt .. 41 1 tZ
Ol'rU $io cash, 36 monthly A A eJ
1 1 9n Phonograph
Mabog'ny fj OC
w w i
10 cash, 35 monthly
NEW Grafonola, Maborany.. C
t II 310 cash: 37 monthly
IJCW Grafonola, Mahogany.. COOK
lis. If $25 cash, 310 monthly WeeseU
USED PABLOR OBGAXS
Many Sow Come in Exebasf for S w
Pianos
tlOR Great Western Cbapel f
01 Aw $io cash. 35 monthly O
Cllfl Packard, Orebestral ..
0 1 I U $i cash, 33 monthly O
30
25
45
30
35
35
40
45
35
35
IOC KaUan, Mirror Top
Top... f
monthly O
Wla.W $10
caah. 15
IflK West'n Cottage, Mirror
alOw $10 cash, $4 monthly v
I ifvr. B. Allen, HI SB Top f
w I I U $10 cash, 33 monthly J
1 1 nn W'.t'a, High T'p 4
9 1 ww $10 eash, :
810 cash, t'f monthly w
? I hll ;,8
I3U $ifr cash.
Isns-tt A Warren.....
$6 monthly -
JIOC Jfeedbam, Large Oaks
103 $lorcash, 83 monthly "W-
f IE iBeB!Bger, Cbapel .. "
w itw $:
U0 lcfh. 35
monthly
ablnet. .
4 C fchoenlnger, Cabinet. . 4
Cash, $3
monthly i
2 mn Clongh A Warr'n, Wal.
O I UU 310 - cah, 83 monthly
own a new. Improved quality piano by its
if our 23-7 lower (than local market) prices
'.
its unprecedented Values truthfully named.
identity?. Wby should market values not be
will understand wny. we nave mounauas or
rwsia ine piano win o smpnea sunject
trial of the piano you may order. Kvery
from the manufacturer.
FORTLAXD
UtBGEST PI A IT O
DISTKIBCTOaS