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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Sept. 26, 1920)
THE OREGON 'SUNDAY; -JOURNAL, . PORTLAND, SUNDAY MORNING. -SEPTEMBER. 26,' ,1920.. ..... 14 PORTLAND WILL BENEFIT BY W ' IMPORT FREIGHTS Transcontinental Roads Reach Agreement for Reductions ori Import and Export Charges. 11. It. Hudson, general traffic manager of the port of Portland and Dock commissions, has received ad vice from the transcontinental rail road that all western linea have reached an agreement regarding re ductions in the Import and export rail rates, which were advanced 81 L3 per cent August 26. H. H. Counties of the transcontinental freight bureau at Chicago has been In structed to prepare supplements Imme diately which will reduce rates to and from raclflo coast ports. These reduc tions will be an advance over the old ratea prior to August 26. sufficient only to meet the advance In rates from pro ducing points east of Chicago to and from Atlantic seaboard. COHDITIOW UNCHANGED . This will leave Pacific coast ports In relatively the same competitive condi tion as they were prior to August 26. The advance of 33 1-3 per cent which was made in the Pacific coast ratea has been seriously Interfering with the ability of the Pacific coast to compete with the Atlantic seaboard in the move ment of freight to and from the Orient, and this adjustment, which will probably be placed in effect within the next few days, should secure for Portland a larger share of the overland business. Oeneral Traffic Manager Hudson also received advice from the United States shipping board that the rate on lumber ! irom i'oruana ana oiner racuie coast ports has been reduced to River Platte and Rosarlo from S45 to $40 per thou sand feet The rate of 40 was in ef fect some tune ago and resulted In the movement of four cargoes of lumber from this territory. ICMBEBMEX HIT Wheri'the rate was advanced to 45 it put the Northwest lumbermen out of tola business. Hudson showed that the rate being se cured from gulf ports by Southern pine lumbermen was 440 and in some cases charters were made for sailing vessels aa low. as $34. While the mileage front the Columbia river to Argentine is prac tically 25 per cent greater than the mile age from gulf ports to the same ttpri tory, it is possible to load a greater num ber of feet for the same weight with Northwestern lumber which equalizes the advantage In shorter distance In that a steamer with the same weight cargo secures greater returns' "far the same weight from Columbia river and Port land, the rates being on a basis of meas urement This should open up this market for Northwest lumber and it is expected that several cargoes will be moving shortly. BOSToV MARINE GTIIE IS MINDFTJIi OF PORTJjA-ND GAlN Maritime circles in Boston are taking cognisance of the strides being made by the Port of Portland and the dock com mission to secure business for the port The Boston Marine Guide prints the following, under date of September 18 "The port and dock commissioners of Portland, Or., announce the opening of their Kastern traffic orflce at 299 Broad way, room 61S, Wright-Barclay building. New York, N. Y. We solicit the routing or your export ana import trarnc via the port of Portland, Or. Our ocean terminals are equipped with the most modern facilities for the expeditious handling or all water-borne traffic. We are prepared to furnish information re garding steamer and rail schedules rates, wharfage, handling and storage charges, etc. Address any or our repre sentatives," This shows what a live Western citv Is doing- to secure business through Its port The port of Portland Is reaching all the way across the continent as well as to'the Orient and to India, for traffic to be handled through their city. They know that what will benefit their city and community In general will also bene fit the individuals. It is a progressive Idea. The subject has been under dtar.uMlon for some tune of having ,the port of Boston establish a traffic agency in Chicago for the solicitation of business through the Middle West and to build up trafflo through this port. Surely, If the port of Portland and the state of Oregon, with their population, facilities ana wealth, are determined and pro gresstve enough to make the efforts men tioned to secure business, there is every reason why the port of Boston and the state of Massachusetts, with their vastly greater population, facilities and wealth, should Immediately establish a traffic agency In the Middle West and actively begin and persistently continue the so- llcitAtlon of trafflo for the port of Bos ton. Our commercial bodies should take this up at once and act Colsmbla Hirer Bar North Head. Sept 25. Condition of the trs t S p. m., MMtoUi; wind. outh, JO suta. WEATHER FORECASTS Portland nd Tirlnity Sunday probably ihor- m; nodmli Krathwetcrh wind. Oracon and Waahtnrton Sunday probably abovara; moderate aouthwaitarly wind. OBSERVATIONS Wind. STATIONS a? at IUar . . . . . Ho 1m Button . . . , Calsary . . . Chicago , . , ttaa Moiaaa , nmka Helena , , . , litUMtU . . .01 8 8 SE rioudr. Its 88 SO 0 60 00 S3 50 .02 Cloudy. O O 0 0 0 O 0 near. Clondy. Clear. NB 8 W 8 sw BW W SB w SW N SE K -S 6 N BW 8 HE w S Clear. . Clear. Cloudy. Cloudy. IBS .T)4 Cloudy. Kanaaa City. . Txw Anrolaa. . ManhN.W . . Mrdford .... kilnnMnolia . New Or Wan.. , Naw Tors . . . North Uaad.. Phoenix . . , . Pooate.Uo ... Portland . . . , Bomborg . ,, Raeranente .. SS 19 02 0 83 54 M 0 o near. Clear. Rain. Cloudy. Clear. .04 0 0 .24 Clear. 0 Clear. .26 Kain. Clear. Pt. Cloudy. Bain. Cloudy. Clear. Clear. Clear. Clear. Clear. Cloudy. Clear. Pt Cloudy. Kain, Pt. Cloedy. Pt. Cloudy. Pt Cloudy. Pt. Cloudy. O 48 sa eo 54 8S 2 66 6 .04 .68 ,28 O O " St. Lonia ,' . Salt Lake ... . Baa Ptoco . . . 10 id 16 IS is 13 .02 S 0 0 in Sis -Francisco w 8 0 SW Seattle ... t Sitka ... Spokane Tacmna . - 58 .06 58 ,66 .62 60 63 sw BW 0 . Talomh Uaad 54 ;;-i TValdea ..... win. WiH,.i t48 e 0 S3 Winnipeg ; . , . 4 0 1.88 8 Taaioia 9 sa. today; u, to. report of precediaf day! 0''- J ,'A,':''l,OCJLt.' ''ATA . .'; " Portland. Sept. St. Ricbeet teaepeiatara. SS: 1 joweec tempera utre, ou.o. kitvt raaainf, B a. ta, 5.1 feet. Cl'tncs in laat 24 hour. -0 6 root Total rainfall (5 V. m. to 6 p. ., .68 inch: total reJnfeil aiaee Sent. 1.- 1820. 8.08 incrhm: normal rainfall ataee Hept. 1. 1.89 incbee; ex reu of rtm aince fiept 1, 1920, 2.50 inches. 8uartv 6:02 a. m.; aunset. 6:08 P. ra. ; total aumhlne, 22 atiRataa; pomble aunahine, 12 hoore 1 minute. ' Moomua, 4 -.44 v m. : noonaet. S:S3 1 a. a. ; bammeter (rednnxt eea level) 5 n. n.. ' Bit lnrhea. ; Kelatlte humidity. a. m.. SS per eeaii uooa, u vtr cent; p. aa., ea per cent., ' - -SHIPS FROM WORLD'S ENDS iiiiikw "wiswiiiist Ki'Kr tip r''T'. V. 'r'Z&tiffiti't' $ IIj.v , ' : il ,?i v - V' - ' - - l i t u? Z"' - T & " ',',dr I L r ; ' v -'ZJ-'. v'w---4--T" I y' . is ' i Bt if ' . . f , ' y k Mnnldpal Terminal No. 4 was accne of unprecedented activity daring week, when Portland business men inspected big- new improvement. Five ships, here from all quarters, were unloading and loading cargoes. Upper picture' -eliows portion of pier where three deep sea craft are moored, with 1,000,000 - bushel bulk grain elevator In distance. Lower picture sltows rail and water connection, illustrating facilities for expeditions liandling of wares 'from cars direct to holds.- Photos by A. M. Prentiss. FRENCH BOUNTY IS F Bark Buffon Comes Back After Absence of 9 Years; Sight of Windjammer Pleases Mariners. One of the old French bounty car riers, tho bark Buffon, is back . in Portland for wheat cargo. It has been nine years since the Buffon sailed from the Columbia river with wheat, and at that time she carried a cargo for the United Kingdom, dispatched by Kerr, Gifford & Co. The .French bounty act expired in 1912, and since that time there has been no tricolor flying from the mlzzen of the windjammer. Portland has seen little or none of the sailing craft engaged In the off shore trade tor the last eleht years. Since 1914 there has been none, and the appearance of a perfectly good sailing ship engaged in grain traffic is good for the eyes of the "ancient mariners" along the beach. The volume of business of Portland has Increased by three-fold since the days of the old sailers, but the num OLD FRENCH lYench bark Buffon leaving the Co l'1". Taken from bar tug. Wal CARRIER HERE OR WHEAT CARGO f . ' -1 . , - , s . it, (, 1 , ' 'S t . " ; - . . '-'' - - Mi. ; J,: Tfn,t'u a ' ' , x v v - ' TK'W. ' ' T J At - " --f - . '-'," 7 'Te-a ft " , ' -i ' : -. fit-: - ;0?yn s ;- . f f -"4W a , - Vy"' -r 'ffiii)iiwi,nni Mlwejr ber of ships has diminished. Paradox ical, some might say, but comparison of the tonnage of the old-timers com pared with the modern steamship makes the answer easy. t - The Buffon is a craft of 1972 net tons, and on her lant voyage from the Columbia river carried 117,809 bushels of wheat, valued at $97,781. The steam Ship Heilbronn, 4986 net tons, will carry nearly foui; times the cargo, and the valuation will run close to the million dollar mark. Six steamship now in the river will take over 3,500,000 bushels of wheat. FOItEST DREAM c6MPL,ETES SIAIDEX TIUPACROSS OCEAN Aberdeen, Wash., Sept. , 25. The Aberdeen schooner Forest Dream is berthed at Grays Harbor motor ship dock, after having completed her maiden voyage across the Pacific to Australia The Forest Dream left here New Year's day, reaching Sydney Easter- Sunday. After unloading lumber cargo, the Dream proceeded to Newcastle, Aus tralia,; and flHed her hold with coal consigned to Honolulu. The schooner sighted Hawaiian shores early in Aug ust. The Forest Dream left Honolulu Aug-ust IS, reaching Grays Harbor in a record breaking: space of 18 days. She came in ballast. AMERICAN-HAWAIIAN WILL CALL AT PORT OP PORTLAND Reestablishment of the service of the steamships of the American-Hawaiian line between New York arid Pacific Coast ports was the statement given out" Saturday afternoon by the Columbia-Pacific Shipping Co., local agents for the Williams, Diamond Co. Reg ular service will be maintained, and San Pedro, San Francisco, Portland and Puget Sound will be ports of call. Freight will be carried both east and west bound via the canal. BARK RETUJINS III lambia river with wheat in fall of Inla, 1 1 i - 4 M y sy-ejiir- n 3 "SMyUstaaus.LJi'j iwuijitiiiisj sbbj IN PORT TRADE REPORTED AS IRREGULAR IN LUBER INDUSTRY New Business Continues at Low Ebb in West Coast Mills for the Week Ending Sept. 18. Lumber conditions remain irregu lar and little new business is re ported by the West Coast Lumber mens -association in its weekly re View. Robert B. Allen, secretary of te association, has compiled the fol lowing review of the week ending September 18: "New business continued low in volume for the week ending September 18. "Railroad buying comprised approxi mately 25 per cent of such business as was secured by W est Coast mills. '"In the general trade for rail delivery. there were 758 carloads represented in new orders, and 253 carloads of special cutting for the transportation system. LITTLE NEW BUSINESS "There continued to be practically no new business from so-called competitive territory east of Mississippi river, which, in 1919 West Coast lumber distribution. yielded the railroads approximately $24, 000,000 in freight revenue. "The railroad buying proved welcome business to the mills, notwithstanding the fact that it adds somewhat to the burden of abnormal mill stocks by rea son of such a comparatively small per centage of the total log meeting require ments of railroad specifications, leaving the so-called side cut to be added to an already heavy accumulation of un sold stocks at mills. "Production at 126 milla waa 76,012.043 feet. "New business totaled 47,402,940 feet, of which industrial and retail yard re quirements amounted to 22,755,000 feet; railroad business. 7,575,000 feet ; domes tic cargo, .10,850.680 feet : export. 3.469.- 000 feet, and local business. 2.753.260 ieet "Shipments amounted t to 68,524,457 feet, of which 42.780,000 feet moved by rail ; domestic cargoes, 13,340,083 feet ; export cargoes, 8,273,259 feet ; auto truck deliveries. 4,131,115 feet 14 PER CIST BELOW NORMAL "Summarizing, production was 14 per cent below normal, Shipments were ap proximately 10 per cent below produc tion. New business was 38 per cent below production. "The unshipped balance of orders in the rail trade, amounted to 5385 cars ; in the domestic cargo trade, 95,188.472 feet; In the export cargo trade, 63,095, 246. feet "Conferences this week, at which rep resentatives of the lumber industry met the traffic-executives of transcontinental roads In an, effort to reestablish com petitive eastern market relationships through the medium of modified freight rates, were not wholly lacking In en couragement to the shippers. "Theseconferences were informal unit Resulted In arranging for formal hear ings before the transcontinental freirht bureau at Chicago, probably on Oc tober 6." V RICH SILVER AND GOLD LEDGE REPORTED UNCOVERED Baker, Sept. 25. Thomas Jaques of Pilot Bock is in the city this week, on his way home from his new mining property which he has located between the Ben Harrison mine and the Morris mine. The new claims, of which there are three, are known as the Pilot Rock group. Jaques has been doing develop ment work on the property this summer and he reports considerable (headway. , A ledge measuring about four feet wide has been uncovered, he saya, that assays $125 In silver and $3 in gold. . Arrange ments are being. made for mere exten sive work on the claims, r Gary Steel Mills Warned of Plots Gary; Ind- Sent 25.-fTT. P.V A "Un" that ( radical are planning to blow up meai snuia iters resulted today in doub ling the guard around the plants. Barbed wire fences, surrounding, steel plants, will be reinforced. Th "Up." which steel mill officials are said to have received, was to the effect that the radicals bad selected Gary mills atbelr next ob)eeUveV OF Committee at Work on Program , Of Organization of Ranchers Of Largest Producing States. By Edward J. Crosby International Newi Service Staff Correspondent. San Francisco, Sept. 25 Complete Control by the farmer," of the wheat and corn crops, of the 10' largest pro duefng states by 1923. Automatic elimination of the Chi cago Board of Trade. Perfection of a publicity and In telligence system. This is what the farmers of the United States have set out to accomplish through the formation of a giant cooper ative association on the famous Call for nia "commodity cooperation" plan. The cooperative movement first projected na tionally at the annual convention of the National Farm Bureau Federation at Chicago this summer is now under way following the appointment of a commit tee of 17 representative farmers to draft preliminary plans. -That the tanners will completely ,con trol the wheat and corn crops of the 10 largest producing states by 1923 and that in time they will have control of the entire crop of - the country, which will Incidentally mean the passing of the Chicaco Board of Trade, is the opinion of Aaron Sapiro of San Francisco, at torney for 14 of the famous cooperative associations of California and other Western states, who drafted the plan placed before the farm federation con vention at Chicago which thoroughly in dorsed and adopted it ; There Is not a doubt in the world but that the farmers are going to mar ket the crops of the 10 largest producing states by 1923 through a great marketing association of their own, similar to the pioneer organizations here In California," stated Sapiro. "It is going to take us over two years to get Btartea. During the next six months we are going to work out our plana for organ ization. Then we will spend a year In spreading the propaganda of 'commodity cooperation." Then and only then will the farmers be ready to market their crops. IGNORE BOARD OF TRADE We are not going to fight the Baard of Trade. We will simply ignore, it. The cooperative farmers will take their own crops, sell them direct to the millers. export them directly. By this method they will get better prices themselves and will also cut the cost of grain to the consumers. The Board of Trade will hold some customers for perhaps a year. Then these customers will see what the cooperative farmers are doing and will join the association. The first thing that the Board of Trade knows, it is out of business." Each state in the big association will have one director in the organization. Sapiro states, with an additional direc tor for each 5,000.000 bushels marketed from that state. The public will have five representatives in the organization. One will be appointed by the federal re serve board, one by the federal trade commission and three by the department of agriculture. ."The plan is one that has been tried and is successful. Fourteen big associa tions in California and other Western states are working under this plan. The prune growers, the rice growers, the apple growers, the cotton growers, all have formed associations of their own. No single state is represented, but all the growers of a certain commodity. That is real cooperation." Preferred Stock of Paper Company Sells At Eight Per Cent A very attractive Oregon investment is being- offered at the present time by the Lumbermens Trust company', this consisting of the S per cent cumulative first preferred stock of the Oregon Pulp & Paper company located at Salem, Or. This company is capitalized at $1,500,000 $900,000 common stock and $600,000 preferred stock. ,all of which has been sold at par, with the exception of $200, 000 of the preferred. This stock is in shares of $100 and is being offered at 100 and accrued dividends - to yield 8 per cent A very attractive feature of this preferred stock is the fact that the dividends are payable monthly. The property of the Oregon Pulp is Paper company consists of three major buildings, two structures of heavy mill construction, and the main mill build ing, the latter being of steel and con crete construction. The company also owns about 20 acres of land In Improved districts in Salem, two developed water powers, which will develop 1500 horse power, and valuable water front prop erty. Due to the fact that the company is very closely affiliated with the Spauld- ina Iogging company, It can be operated very economically. ,An endless belt sys tem connects the Spaulding Logging company wi,th the Oregon Pulp Sc. Paper company. GIVEN HIGH PLACE IN REALTY BOARD George T. Moore, made second vice - president,, - - GRAIN CROPS ASSOCIATION Al :::: - Wy.::v.:W9 : A ; A V Mm ' i v'vV M$VettftM IMPORTS SHOW 77 PER CENT GAIN i BEARS COVER UP Liberty" Bond f Profits iSpring to j Fore; Mexican Petroleum Is 1' Leader in Recovery. " 1 By Broadan Wall New York. Sept 2. rThe federal reserve bank of New . York showed 43.7 par cent, compared with 39.6 per ent a week ago, reserves to combined deposits and federal re serve bank notes and outstanding. It showed 48.4 per cent, compared with 38.8 per cent, of reserves to net deposits afte.' deducting 40 per cent against federal reserve bank notaa outstanding. :f The imnroved hank nnslttnn waa ru. frnored about the street early In the day and the bear party began covering with such urgency that there was absolutely buoyancy- in a few Issues. Mexican Petroleum was the leader on the recov ery and carried all the oils with It. Steels were strong. In , the rallrpad grout, .St. Lonts Southwstern was the leader, with new high records for both common and preferred. Motors were quieted by the statement of President.! Durant of the General Motors corpora tion that as his company had done no profiteering It would not reduce prices. Liberty bonds were conspicuously strong. Thn market closed in the midst of a rally. . i tiv:6J Persons, who purchased Liberty bonds last spring and summer when they were at panic prices have already accumu lated handsome profits. In fact, the ad vance of Liberties has been so great that bankers expect liberal profit tak ing for the next few weeks. There were 188 failures the last -eteek compared with 137 the previous week and 123 the same week last year. According to official figures, imports for the eight months ending August 31 were $4,000,000,000, which is an Increase of 77 per cent over those of the year before. For the eight months the excess of exports has been reduced to tl.43. 000.000. What is more significant than the number of dollars Is the fact that the tonnage of exports has been reduced in even greater percentage. Sacramento Drainage District Bonds Are Offered to Investors .With the purchase of $200,000 in war rants of the Sacramento and San Joaquin Drainage district, of the famous Sacra mento valley. .California, Freeman Smith A Camp Co.. bond dealers of Portland and San Francisco, are offering investors a most attractive short time mtnlclpal in vestment. The company is offering these warrants, which bear Interest at the rate of 7 'per cent on their face, at a price which will net investors in excess of .8 per cent with no Income tax to pay. The syndicate which is handling the issue ef warrants is headed by the Con tinental and Commercial Trnst and Sav ings bank of Chicago. . WJ i, 8 ft 346 New Members Enrolled iff Local : "Banking Institute "The Portland chapter of the American Institute, f banking has just completed the most successful membership drive In its history. Under the leadership, of A. IL Herndobler, auditor of the State Bunk of Portland, 346 new members have been enrolled. Portland's quota as outlined by the membership committee at national headquarters waa - 77. Last year the State Bank of Portfand was the only bank wun iuu per cent membership In the A. I. B. ' This year three new banks have been added to the honor roll. Multnomah bank being first, followed by Hlbernla Commercial & Savings, and Cltlsen's bank. " The total membership is now 677. , "7 .u. .t..T nilU a v. a a, va, v w l 1QI a 4 VJ 1 1 1 ber of bank employes In Portland. The United States National bank, which, has 139 memDfri m ine a. a. o., iiuins mr In the A. I record for having the largest enrollment of any bank in Portland. . Classes covering practically all the technical phases of banking will begin early In October.-, Officers of the Port land chapter are : ' J. King Bryon, Ladd Tilton bank, president ; Christian Peter sen, U. S. National bank, vice president ; June Jones,- Northwestern National bank, secretary ; 8. O. Austin, First National bank, treasurer, Morris Bros, Eeport Sale of $750,000 Of Edmonton Bonds Record sales of the $750,000 S per cent gold notes, yielding. 9 per cent, of the city of Edmonton, one of the chief municipalities of the province of Al berta, Canada, are reported by John 1 Ethertdge, president of Morris Bros., Inc. who are handling the securities. "These bonds have met with a ready sale and there has been a very brisk demand for them," said Etherldge. "Buyers realize that such Issues are few and far between, and the Invest ment opportunity afforded thereby Is truly remarkable." ' Morris Bros., Inc.. are also offering other choice Canadian Issues, as well as American Northwest .bonds of ex ceptional . value as Investments, and Etherldge states that there is a ready sale for these as well. Bridge Is Repaired Silverton. Or., Sept 23. The city is making much needed repairs upon the steel bridge over Silver creek. A new base planking has been laid and a-coat of asphalt is to be placed upon this as a finishr" Range in Prices ofALiberty Bonds and Victory Notes During the Past Week OFFICIAL Liberty 8H 18S2-47. 00.04 Liberty 1st 4 1D32-4T Liberty 2d 1937-42 -. . Liberty l.t 4V4 12-47 Liberty 2d 4 1027-42.... Liberty Sd 4 Hi Ubrrty 4th 4 1 9 .18-88 Victory 4 1S22-2S Victory lt 1622 23 WfestovterTerfOj PROFESSIONAL 1 $i nea men. -.. merchants find in incompa- rablWetoveV Terraces, not alone the maj: nificentsunrouniinss lhat they and their families, desire for a home -but, too, a site close lo the great heart of the city's business and play places. , Within a short fire minutes' run is the Mult nomah club, one of the west's most noted recreation centers for son, daughter, father and mother. Nearby is Washington park, and up from the wonderfully terraced sites risb forested slopes, inviting alike to lovers of the wilds and trail blazers. A' lrftM ,wto, down W..M.(t.n bri.(. you from WestoVer into the theater and shopping districts. Another turn and you are-in the financial, the wholesale or manu facturing centers. Doctors need less than five minutes to reach the city's two largest hospitals St. Vincent's and the' Good Samaritan. Coupled with it accessibility, Westover offers Portland's scenic vista supreme-10,000 square miles of wonderland for one's dooryard. Buy hnd Build oh Westover. , Call, phone or unite for price now, ' T. ' Harold' Jungck, Secretary International Realty A$$ociate$ 1307 Yeon building. Phone Marshall 630 ELM or Edited try. A 111 V, Ucaalaa MONET IS FOUND T IN EAST On Account of High Costs Much Money Is Withdrawn in Loans :r to Manufacturers. "Conditions in the KskI Imve shown little change during the hist few months," states Walter il. luly, vice president of the Title & Trust company. ho has Just returned from u business trip in the Kast.. 'Mm,,. . tl-u. ...J l Ur' ' re hUh. On account of the inci . ;io1 cost of material and imuiufacturiiiK. praotlcally all manufac turing concerns liave been forced to borrow larRp amounts of money, and It has been necessary for them to go Into (he open market and pay hlnh Interest I rate. This has taken a large amount , of money ami Iihm ciuiKeil kt-cn compe tition. While the bank lire inking care of all reasonable demanda, they are slow to make lu.iiw t-pt for tempo- "The sale of the present crops and the adjustment of the wool miirRet may ease the situation some, i,ut ths general opinion is that money -m con tinue tight for some time und there is small chance of reduction in interest rates. "There Is' a greut nhorttiRe of houses throughout the Kast, which has caused an increawe in rents and a general de mand for the purchase of homes. The title Insurance companies report a large number of sales of residence properties, and also much vacant property for im- fprovement. . "While there is some adjustment of the prices of commodities, yet the gen eral opinion seems to be that prices of building material will contliiue to be high, and this has added to the largs sale of residence properties." Bank Deposits Show $998,553 Decrease Salem, Sept. 25.A decrease In de posits of the 26 banks and trust com panies in Portland, npareg-atina- $13. 070,727 In the period between September 12, 1819, and September 8. VJ20. Is shown In a summary of conditions Just issued by Will H. Bennett, hinie superintend ent of banks. Deposits In the Portland banks have decreased $938,rG3 since June 30 last, the report shown, with total de posits of $151.!69.!61 1 at the time of the call, September 8. CLOSING PRICES 1 Men. tne. Wn1 I'TTifre FrT STT 00.04 00 04 00 14 !. 24 00. 1(2 00 40 ftft.so ss.no ho. 112 . 7 no hn.iiu so 10 85.10 fiX 70 H5. HO 86 110 87.20 HN.H0 8B.O0 H.fl.70 H HO HT.20 HH Id HII.40 8S.40 HA. 78 8(1 HO tsC 24 87 .10 80.04 88. 82 88. NO Kh.llll HO 10 00.00 00.72 8.1. 84 HT, .ON HO. 00 Ml Ml 87 .18 80.10 OS .12 0.1. .",0 0.1. BH !.VI4 1IH.H1 00.20 , 85.152 OA. .10 III. "ill 11,1.04 (10.04 00.20 , 2 MEN, bu.i- . manufacturers, ... c v -J v