THURSDAY, DECEMBER 16, 1920.
COARSE GRAIN TRADE' ALMOST TOO NOMINAL TO QUOTE
LIQUIDATING INFLUENCES IN THE STOCK MARKET
THE OREGON DAILY JOURNAL; PORTLAND, OREGON.
LULL IN TRADE IN
WHEAT IS SHOWN
SHINCgiM
Breaktr-in the Eastern egg market are
causing some apprehension -among the
-local trade, which has been shipping to
th Atlantic seaboard markets. Prices
here were unchanged for the day.
. Wliili' a bish M)06Oe a ten 1 tiH
htne 'offered iind raid fi Current receipt
t thhi time, thin irire to nMlit out of line
with tii situation in other market. ;
' Only tin fat tht lomt of the intermoontain
motions have been in the market for rags tier
rM-iitly tia enabled th buyers to b'd o nw&
lor urplie- .' - . .u.
Weather condition continue t affect tne
trade here- and are likely to temiin in eontroi
f the aituation until the end of the present
wimi. With moral- -net entirely removed as
market factor because, of tlie nominal bp
lilies, relrts of freuh stock from time, to time
will directly affect- value here. '
Thine deirini hxa information reeardin
any market, should write the Market fcditor,
Oregon Journal, enclosing atamp for rayly.
BITTKB TBAi)E WATCH ISO SOUTH
I,noi I putter trade U eagerly watching the
California market and any further price low
there will affect sentiment and value here. Io--eal
nuke U holding up unusually well for tlila
period of the year.
CHICKEN RECEIPTS ARE SMALL
, Very limited' arrivals are allowing in the lire
chicken market at Front etreet. Seemingly the
country to again determined to wreck values by
forr-ina huge supplies on the holiday trade at the
last moment.
TURKEY MOVEMENT IH KOMIXAl
Only a nominal movement of dressed turkeys
to ahown in the local traae with the bulk of the
Mies around Be but fume few lota bringing
round 60c Demand - yet. in nominal.
POTATO MARKET IS LIFELESS
LjfeJPM tone continue in the Potato trade
here There to practically nothing being shipped
because of the uemoraliMd market In California
arid tlie lower prict there. Onions are moring
alowly. . -. - .
. mm . 1
SMALL RECEIPTS IIOLDISO HOOS
Only the fact Uiat receipts are very small to
keeping tlie price of country killed hogs ak high
a it to at present. The price on tlie street is
abort normal livestock bants. Veals about steady.
BRIEF SOTES. OF PKODTCE TRADE
Cheeee market steady tor Tillamook ; others
alow.
Hir.ible apples, of Quality mating well for the
lioliilay.
Orsnce market continues weak; some shading.
Market for nuts to congested with much old
crop offering.
Nominal sales of wool reported with prices not
improved.
WHOLESALE PRICES IX PORTLAND
CMAIUCET
DASK.ET
RETAIL PRJCEJ.
Local,
dozen
The are prices retailers pay wholesaler, ex
cept u otherwise noted:
Dairy Products
BUTTER . Belling price, box lots: Cream
ery, extra, parchment " wrapped, 53c per lb.
Jobbing prices: Cubes, extras, 48 & 50c per lb.;
dairy, buying price, 30c per lb.
. HUTTEKKAT I'ottUnd delivery basis. 60
51c, bM grade; country elation, 44(9' 47c.
CilKE.SK Selling price: Tillamook, fresh
Oregon ?e.ncy triplet,, 8"3c p.T lb.; Youiis Amer
icas. 34c IH Price to jobber, f. o. b Tilla
mook : Triplete. 30c: l'oung Americas, 31c.
(toMinf .price: Block Swiss, 4S49c; linibnrger,
40'M2c per lb.
VI H Li H i . t ,i i, nrfii- PlirrMlt reeeint ISI
' ittuc : per - doz. ; candled, selling price, 63
' Ooc per dox. ; select. eTS'lSc per doi.
IJVK POULTRY Selling price: Heavy hens,
29 4$ 26c per pound; light hens, 17 ft 18c per
: pound; spring, light, 8fe30c; heavy, 21c;
old roo'ters, 12(i 14c per ixiund: turkeys, live,
i SS m 37c; dressed, '45 50c; ducks. 28&'30c;
'geese, 22"J5c ( ,
. : Fresh Vegetables and Fruit
! FKE8II FRl'lT Oranges, $4.004.50
box; bananas, IS hi (4 13 He ID. , lemjns, (4.75
(5.25 a crate; grapefruit. Florida, $8. ())(
fc.PO; California, $3.00; pears. 1.50 ( 2.60;
grapee, 20c rer lb.; Jap orangs, $3.00 bundle.
APl'I.KS New. $1 00 3.2.-1.
IiIlIKK KUt'ITS Dstes, Dromedarim, $7.8.;
; rani'. as uu per box; in, s.'.uu ( 4.0U.
ONIONS Sillins price to retailers:
$1.50; garlic "15c; green onions, 40o
; bunclie.
POTATOES Selling price: Oreenn fancy.
$l.n0(g1.74; sweets. 4 -V (9 ."c per lb.
BE 11 It IKS Huckelberries, 16felSc lb.; eran
berries, local. $K,00o.25 per box; eastern,
i tl "0 2000 bjL,
; VEGETABLES Turnips, $2.00 per sack;
. carrota, $1.50; beets, $1.75; lettuce. $2.60'a
; 3.25 per rate;-; ourumbers, 1; tomatoes.
California, $3.50 4.00 per lug: egg plant, 15
! e 20c; broccoli, 1(1.50 ( 1.75; bell peppers, 15
I Wl7He Ih.; celery, $1.00 per doz.; liubbard
Kiuaah.;' 293He 'per lb.
I Meats and Provisions
COCNTRT MEATS Selling price: Country
: hogs. 15 e 16c per lb. for top blockers; heavy,
13 V 14e; Tfal, 15 V, 1 tic lb.; henry veal. Uc
per lb.
SMOKED MEATS Ham, 2583o per lb.;
breakfast. bacon. 31(t41ic.
' LA HI) Kettle rehdered, 26o lb.; tierce
basis, compound, 1 5 M c ,
t' Fish and Shelfish -
i FRESH FISH Frozen ateelhead, 1 8e per
lb.: frozen chicook. 20c; halibut, fresh, 24c;
! stnrgeon, ); black cod. Jl12c; kippered
'salmon, $2.50 per 101b. basket; kippered cod,
i $2.5; razor clams, ( ); crabs. $2.75g3.75
per dozen: ling cod, 6Sc per lb.
.i OVSTERS Eastern, per gallon, $5.00;
Olympia, $5.50.
i . ' Qrocerlea
r- SUG AIL Befinery basis: Cube, tll.2S;
fruit anderry, $9.60; I yellow, $8.90; gran
lUlated. $9.50; extra C, $8.30; golden C. $9.00
I HONEY - ew, $8.00 per case; bulk. 18c
! per In. t
i RICE Japan atyle. No. 1, T He; Blue Roee.
t 10c per lb.
BALT. Coarse, half ground, 100s, $17.25
; per ton; 50. $I.H 75; table dairy, 60s. $-47.25;
; bales, 3..104.00; fancy table and dairy,
i $34.50; lump rock. $26.50 per ton.
'.i DEANS Sales by jobbers: Smatr white,
, fir lb.; large white. 6c: pink. 7c ner lb.: limaa.
; 10c; bayon. 9c; reds. 7 He; Oregon beaas.
wujins jTires. nominal.
i CANNED MILK Carnation, $6.00; Borden,
; $6.00; Astor. $5.90; Eagle. $12.50; Libby
i $5.90; Mount Vernon. $5.90 per case.
: luciti, oa.iea. 1(9 420 u sacks or
snims.
-(- - - -
?-V,UA CRACKERS In bulk. lSe per lb.
.l'fT;Win,t'' i39 2c Pr lb.; almonds,
. J,i4c.'f8c; 'dbert. 82c in sack lots; peanuts.
14 H l 15c; pecans, 25c; Brazils. 35c,
Hot. Paint. Oils
ROPE Sisal, dark, 16c; white, 18e per lb.;
: itandard ma nils. 26 He. '
i LL.N5t.LD Oil Kaw, bbls. $1 01 asi- krt
' rt- S1f!3: w- .LiSfboii.
, cae $1.18 per gallon.
COAL OII t-earl or water wbiU, in drama
, er iron barrels. 17 Vie gallon ; cases, 30cr
UASOLINE Iron
41 Mie.
20e;
. By Hymaa H. Cohe
Local wholesalers and retailers have
been advised by leading clam shippers
of Olympia that lower prices are being
named for supplies there. The new
prices are a drop of about 50 cents a box
from former quotations and will allow
local wholesalers and retailers to shade
their quotations here.
This will also affect to some extent the
price of oysters, as the two markets are
affected by one another. '
There continues an actual shortage of
fresli salmon of quality, although some
winter stock from the Columbia is now
arriving. However, the chinook being
offered .in the retail shops are- frozen
fish, although of good quality.
The Columbia river smelt run continues
small, but the trade expects the fish to
enter the Cowlitz almost apy day, and
then bang: will fro prices.' '
The following prices ruled generally in retail
ahjpa. for good quality. Some values are frac
tionally higher and inferior stuff fractionally
lower:
Butter Best creamery. 58 (? 60c.
Egga Fresh laid, extras, 80 S5e per dozen;
extra pulleti, 75c. .
Poultry Chickens, dressed, 35 40c per In.
Fish Salmon, 25 30c lb.; halibut, 30o
per lb.
, Flour Best local patent, $2.S03.00 per
sack. 49 lbs.
Potatoes Burbanks, 2c.
Onions 2c.
HOGS DROP 65 (
ITS..
WITHIOP AT $10.35
SEVERE LOSS IX HOGS
A sharp Io of tie was forced In bogs
at Sorth Portland after the Thursday
market opened. Tops sold, bo higher than
tl9.85. i . -
THURSDAY HOG MARKET
Portland ....... .6Je lower tlOJli
Chicago. .Stead r
Omaha Steady to strong
Denver.. ...10c lower
9i
n.ti
9.99
PORTLAND LIVESTOCK RUN
Hogs. Cattle. Calves. Sheep. Cows.
Thursday 707 -,.'.. . . 8
Week ago. . . . 277 60 1 244 7
Two weeks ago. 830 295 - .. 15
Four weeks ago 260 - 151 .. 436 10
Year ago .... ..119 .2 .. 4
Two , years ago 98 48 .. 81 '. 4
Three yrs. ago 944 95 . . 477 26
Four yra. ago 107 179 5 .. 8
Turkey Market Is
Uncertain; Growers
Would Like Rise
at
of
High. Low. Bid. ,
THURSDAY WHEAT MARKET
Bid. Loss.
Hard white ....................1.65
Soft white ......
White elub
Hard winter ..,
Korthern spring
Red Walla
1.55
i.&i
l.ii
l.ifi
1.50
6c
Sc
5c
NORTHWEST OKALV RECEIPTS
Reported by Portland Merchants Exchange.
Wheat. Barley.
Roseburg, Dec. 16 The turkey market
opened here Wednesday, two days ahead
of schedule. Five hundred top birds
were purchased by a local dealer for the
Vancouver Klks Turkey trot. These
birds were selected from the very best
of Douglas county's birds.
The market for Christmas is one of !
uncertainty as many factors enter into I
the Christmas trade that did not figure
in the Thanksgiving market. Growers
are now pooling their birds for a higher
market price. The pool ia being formed
through the Douglas county farm bu
reau and 3000 birds have been signed up
to date.
Ju3t what effect the pool will have
on the competitive buyers is not yet
known. It is an assured fact that the
farmers know what the. markets are as
well as the buyers.
Eight cars formed total arrivals
North Portland Thursday and six
these did not enter the market Hogs
were weak, cattle and sheep nominal but
steady. '
In tlie hog alleys there were eight loads re
ported in for the day but six of these went
direct to killers and did not enter the market.
WraknMt ,Jov. l,,Tw,l in ti. truil. at the Thurs-
i f .. V nrwninir hut U. ,m ti. .Ha fi f tlie I
start. First prices were therefore nominal.
Ueneral bog market range:
Prime- mixed
Smooth heavy
Hough heavy
Fat pigs
Feeder pigs
No Cattle Arrive
No cattle arrived at North Portland Thursday
Trend of tho trade appears about steady. Former
prices were not changed.
Portland Thura.. 30
Year ago.... 11
Season to date. 8131
Year ago.. ...4845
Tacoma Wednes.
Year ago 10
Season to date.395.8
Year ago. . . . .308S
Seattle Wednes. . 9
Year ago. .... 9
Season to dete.2925
Year ago. . . . .341 9
16
123
-44
.
'2
165
166
-Cars-
Flour.
5
1
420
2031
9
494
3
187
397
Oats. Hay.
1 5
1 1
283 1103
342 809
1
. . 1
50)1
639
3
1
985
747
70
118
5
239
414
Lull in wheat market operations is
shown generally in the : Pacific North
west, grower-holders being determined
not to sell under existing price condi
9.50(3 10.35
8.25 9.75
7.00 &
8.50 Si
7.50
8.35
9.35
9.00
EARLY GAINS IX COTTOX
LOST AFTER OPENING
New York. Dec. 16. ( L N. S.) Consider
ing Liverpool's strength the local cotton marktt
made a poor showing at the opening unlay, as
first prices were only 15 to 18 points higher,
except December, which because of the Issuance
of two notices, was 3 points lower. - Weakness
in the stock market at the start, together with
selling by Liverpool and Wall street and con
tinued unsatisfactory outside conditions con
tributed to the easier feeling which developed
after the start when price fell to last, night's
levels on the late months. Wire and commission
uotijte. were the lx t Imy-r early.
Spot cotton was quiet today. 20 points higher
at 16.00c. No sales.
Active covering of January contracts with
sales of later months featured the late market,
causing sharp advances to tlie highest points of
the dav. Southern sellinz checked the advance
near the close and final prices were steady at a I
net advance of o3 3. points.
8.75
8.50
8 00
' 7.5!
7.00
7.00
7.1M)
6.00
6 50
5.00
3 BO
6 00
13.00
7.50
General cattle market range:
Choice steers :..$ 8.50
Good to choice steera ......... . 8.00 Sr
Medium. t good steers. : 7 60
Fair to good steers 7 00(s
Common to fiir steers ........ 6.00 Sv
Clsoice cows and heifers 6.50
Good to choice cows and heifers. 6.00
Medium to good cows and heifers 6.50
Fair to medium cows and heifers 0Q(t$
Common cows and heifers ..... 4-.0i
Canners 2.50 (4
Hulls SODi
Choice dairy calves 12.00
Heavy calves 0.00 (
Best light, calves 10 00 e 1 1.00
Medium light calves 9.00 (a 10.00
Choice feeders 1 6.50 7.25
Fair to gil- feeders 5.75a 6.73
Mutton Also Absent
Mutton were also absent from the North
Portland market Thursday, no arrivals at all
being shown overnujht. Trade was considered
nominally steady.
Central sheep market range:
Ea't of mountain lambs t 7 00
Willamette valley lambs 6.00 I
Cull lambs 5.0O
Feeder lambs 5.00 W
Yearlings 5.00
Wethers . . . , 6.00 ! 6.00
Ewes 1.00 k 4.00.
Livestock Firm- Changes
Announcement; is made of the consolidation of
commission house interests at North Portland.
W. H. Daughtrey, former president of the Port
land gtockyardH, and E. E. i(Buck) WUIard of
tlie Willani Commision company and F. B. and
Fenn S. Waite, formerly with the Oregon Live
stock Commiwion crmpny, together with Max
Stbulz. formerly with the Benson Commission
At Chicago the market opened slightly higher.
then ruled lower, and later in the day. became
erratic for "paper" wheat. Actual wheat is
commanding a stiff premium over the uaoted
injures ui practically all markets of the country.
ine depression into which the coarse grain
trade here has fallen has excited much interest
in this- section. There is so little demand for
oats and barley at this time because of the low
price of corn that in both lines quotations are
on a nominal basis. This, too, lias a direct
bearing upon tlie millstuff and feedstuff situa
tion. . k
Flour market is holding about steady, with
the exception of the Montana spring wheat of
ferings, which continue weak.
Kroomhall cabled:
North Africa Algeria reports state- that mer
chants are contemplating the purchase of fur
ther quantities of American wheat. Stocks are
getting very low and the scarcity of fyodstutfs
is becemiug very severe.
Franoe It is officially reported that the
Crowth of the young seedbigs is excellent and
that tlie acreage sown this year will be consider;
ably greater than that sown in 1919.
Oermany Official rejxirt states that the crop
figures have been revised as follows: Wheal
and rye, combined crops, 183.200,000 bushels,
against 220,S0O,00O bushels last year.
FLOUR Selling price, mill door: Patent,
$9.80; Montana spring wheat, $8.75; Willam
ette valley brands, $8.15; local straight. $7.9o;
bakers' local, $8.75; graham, 8.00: whole
wheat. $8.20. Price for city deliveries, 15c
extra; suburban, 20c extra.
HAY Buying price, nominal. - Willamette
timothy, fancy, $ J9. OO g 30.00 per ton; clover,
$22.00; cheat, $3.O0; straw. $I3.0O 14.00;
grain, $25.00; allalfa, $22.00 s 23.00 per ton.
GRAIN SACKS XominaL No. 1 Calcutta.
10c: domestic. 11c. in car lots: les uniiunu
6 00l--
0 00 I , MILLSTCFFS Mill run at mill, sacked; ton
7 go I t. $37.00 per ton; carloads. $56.00.
EARLY LOSSES IN
THE STOCK LIST
8.00
7.00
OATS -Per ton,
43.00
Buying" price
buying price: Feed. $41.00
Feed. $42.00; mfll-
nominal; no demand.
-) per lb.; alsike ( ) ;
BARLEY
ing. 4S.00.
SKEI Buying price,
I ilea clover, recleaned. (
! fetch, ( I.
FKEDSTt'FFS F. O. B. mills: Rolled bsr-
ley. $51.00; alfalfa meal. $32.00; cocoanv.t
meal. $37. OO; cracked com, Xoil.OO; wbole corn.
$40.00 ton: rs. t f .....I nno. i ..
have united and organized the Oregon- ! meal. $57.00: linseed meal' 4.74 hn-'whoi.
SaO OO; rolled out. J53.00 per ton.
galea uui.uio uai selling price. $10.00 bbL
Merchants' Exchange
New York, Dec. 16. (I. N. &) The
stock market closed steady. Many is
sues showed Rood recoveries toward the
close. Republic Steel was under pres
sure, however, yielding over 2 points to
59 . Steel common rose nearly 1 point
to 7914 and then reacted to 79. Baldwin
Locomotive, after advancing to 864,
yielded to 86. Crucible rose over I
point from the low to 80. Mexican Pe
troleum showed a slight loss for the day
at 166. Southern Pacific was steady
and closed fractionally lower at .97.
Changes in the motor shares were con
fined to fractions.
Government bonds unchanged ; rail
way and other bonds Bteady.
New York, Dec. 16. (L N. S.) Heavy
selling orders at the opening of the
stock market today caused a renewal of
the decline of yesterday, initial quota
tions being frprn fractions to 3 points
lower. Crucible Steel was m rree sup
Dlv and yielded 3 points to 79. Steel
common declined to 78i- Baldwin
Locomotive was down l1, to 864 aha
Republic Steel clumped over 1 point to
60.
Vanadium SU'l was directly influenced by
the reduction in tli dividend rate yesterday and
dropped 3 iints to 36 hr.
Mexican Petroleum yielded 2 point to 162
but quickly rallied to 164. Sears-Roebuck was
in supply, yielding 1 to 92 Vi . Heading sold
down from 82 H to SI and then rallied to
82 Vi.. Southern Pacific yielded U to 97 but
was in fair demand at that level. Studebaker
fell S to 89. '
After the opening recessions a better tone was
in evidence, many of the opening losses being re
covered. -
Themarket moved in an irregular manner
during the forenoon. The steel industrials
showed a heavy tone. Crucible selling down to
7SH. a loss of 3. Republic Steel was down
7 xoints to 59 14 . I". S. Steel, after rall'.ing
to 79. dropped again to 7S. Keplogle Meel
yielded 3 points- to 0HH.
There tvas a resumption of the foreign sell
ing of Royal Dutch, which yielded 1 to
54. Shell Tran port fell to 38H. Mexi
can Petroleum, after rallying to 164, reac el 1
point.
ICeading rose. 1 point from the low to 82 4
Southern Pacific ranged from 97 to 961s.
Cooke Co.. Board
Middlo State Oil . ...
MiiifaSe Steel ,.
M. K. Sc T. . . . . .
Mont; Power .......
Mo. Pacific . .
Mont-Ward .
M. SU P. & S. S. M. .
M &&L L. .........
National Biscuit ... ...
Nstional Kn tmel
National Lead .......
Nevada Con. ........
New Haven .
.Norfolk A W..V. ....
N orthflTH Pacific ....
N. Y. Air Brake
N. Y.! Centrat .......
Okla. Prod, ref
Ontario A Western....
Pacifi le.
Par.' tas A Elec. . . .
Pan Amn. Pet.
l'ennsylva-nia .
Peopled tins .........
Pure Oil
Pierce Oil . . .
Pitts. 4 West Va
Pressed Steel Car
Pullman .,
Ray (Sons. ..........
Kcadiag
Ueplogie Steel
Republic I. Jt S ;
Royal r Dutch Oil .....
Ry. Steel Springs
Shattuek, Am. ......
Sinclair .
flouthJ Tacific
Southj Ry
St- 14 & 8. F.-.
Swift :& Co
Tenn. j Cop. & Client. . . .
Texasj Oil
Tex. Pacific C. AO
Tob. products
Tran. IContl. Oil
Union 1 Oil Del. ' . . .
I'nion'Pac
l 8. tid. Alcohol .
I'. S. Huh
U. 8. Smelting
V. 8. :Steel
Utah R.'opper
Virginia Chemical ....
Vanadium Steel
Vivandou .
Wabash
Wells Fargo
Western Pac . . ,
Western Union
Wostinghou'e E. A M. .
White) Motors
"WillystOverland
W. ill.. E
12 HI
30
14SI
u
80 Vi
3
'io
14
69
8
17 H
97
77
8
17
14
4 .
77
40
88
32
10
3
81
101
11
2
7fr
61
56 Vs
68
8
16
96
73
68
3
16
12
47
76
39
87
31
10
30
80
101
r 1 1
81
68
59
54
24
98
20
20
100
7
43
36
50
21 ' '
115
65
63
32
79
51
31
38
- 8
55"
27
41
34
5
9
23
96
20 H
19
100
7
42
34
49
on it
64
61
82
78
50
30
36 V
7
51
28
40
84
B
9
12
30
8
49
17
it
70
10
100
4H
68
. 8
16
97
76
80
68
3
16
18
45
77
89
37
32
10
SO
80
100
11
82
69
59 Vi
56 !
83
5
28
86
20
19
100
't -42
S3
50
7
20
115
64
62
82
78
50
80
88
7
7
51
26
83
40
34
5
9
StocikMmket
Bank of Encland rat iinrhi.nc.Arl sit
7 per cent.
Germany announces Its inability to
make usual monthly payment to fill
demands of allies under treaty.
Collector Edwards estimates tax pay
ments about $35,000,000 short in New
York district .
President Grace of Bethlehem Steel
corporation testifying before Lockwood
commltteef In housing iniftiiry admlla
his" company sold ! steel only, to erectors
employing open shop workers.
buck Co, says February dividend is -assured,
barring1 unforeseen contin-'
gencies. .1 -
Mercantile Marine directors meet to- "
day to act on preferred dividend. "T
J Strawberry! Wee 11 Meeting' :
- Ralem. Or., 10. 118. A public hearing to
constder the strawberry root weevil, which ia
said to exist in the! northern, i-art of 'Oregon,
will be held at the Lofficea of the state board
of horticulture, in the Multnomah county court-
ment by C. A. Park of Salem, enairman or tne
board. California has placed a Quarantine
against the importation of atrawbtrry plants
from northern Oregon because of the exlster:
of the peat. i
V2 I
b-j.j.,i.q,f ..mi
$47,000 5 Gold Bonds
1 V2
111 '- an 1 I
1 - . ,' ti
Province of Alberta
Exempt From All Dominion
- Government Taxation !
Furnished by Overbeck,
of Trade building:
cimpany.
WUIard Couimistion cuuipany.
Wednesday Afternoon
STEERS
Month
Jan.
Mch
May
July
Sept
Oct. '
Dec.
Open. Hich. Low. Close.
1 04 3
1556
1561
1563
1560
1566
1530
158 3
1572
157'8
1581-
i579
1555
1538
154H
1549
1555
io66
1523
1572
1561
1 560
15C4
i572
1543
Liverpool Cotton Irregular
Liverpool, Dec" 16. (I. N. S. There was
an improved demand for spot cotton at tlie
opening today. Prices were irregular. Sales,
5000 bales.
American mid. fair, $15.67; good mid.,
$12.92: full mid., $1J,17; mid., $10.67; low
mid., $7.15; good ord.. $5.15; ord., $3.90.
Futures opened steady.
DAIRT PRODUCTS) OF THE COAST
San Francisco Market
San Francisco. Dec 16. ill. p.) Buttei-
Extras. 49l4c; prime firsts. 49c.
. Eggs Extras, 70 c; extra firsts, 68 c;
extra pullets. 63 c; undersized. 61c.
Cheese California flats, fancy, 28c; firsts,
25c. '
'Seattle Market -
Seattle. Dec. 16. (U. P.) Butter City
creamery, cubes, 52c; bricks, 53c.
Ksg? Fresh ranch, 63c; pullets, 54c.
Milk $1.90.
Cheese 30c.
Los Angeles Market
Los Angeles, Dec 16. (I. N. S.) Butter
54c.
- Eggs Extras. 71c: case count, 69c; pul
lets, 67c; peewees, 69a,
POTATOES ALOXG. THE COAST
Seattle Market
Seattle. Dee. 16. -v ( C. P.) Potatoes
Yakima Uems. $4045: local, $2530.
Los Angeles Market
Los Angeles, Dec. 16. (I. N. S.) Potatoes
Stockton Burbanks, $1.752.15; according
to tfuality; Idaho russets, mostlv. $1.85 & 2.00 ;
local, mostly, 90c$1.00 per lug.
8an Francisco Market
Ran Franci-sco, Dec. 16. (U. 1.) Potatoes
River White, $1.60 1.75; Salinas, $3.50;
sweets. 8 tcrS c.
Onioos Yellow arid white, 75 90c; Aus
tralian brownv90o $1.25,
yw- York Batter and Eggs
New York. Ilec. 16. (I. Jf. S.) Butter
Market easier. Creamery, extras, 54 Vi & 5 7e ;
do firsfe. 4254c; do higher scoring, 55 C
58c; state dairy tubs, 33(g5;!c; renovated ex
tras, 40 41c.
Cheese Market irregular, 24 28c. State -Whole
milk specials, 22 25c; do fancy, 20
21 e: Wisconsin Whole inili, fancy Young
Americas, 27(!t29c; State Skims, specials,
18 1 20c: do choice. 15ft17Vic: do choice in
good, 12(S14c.
Egg Market ea.y. Nearby . white, fancy,
89StU0c; do brown fancy, 86 88c; extras, S4
'c; nnLs, aotg oic. -:.
Milk The nominal wholesale price is L3.SWe
per quart, delivered in New York, official quo-
uuiu uncouunuea.
No. At. lbs. Price. No. At. lbs. Price.
4 . . . . 785 $ 5.50 I
COWS
.1....1030 t 3.00 1 660 $ 2 00
2 1010 2.00 1 1330 3 50
1 1120 4.00 2 830 4. JO
4 667 ' 3.00 2 840 4.25
10 94S 3.30 1 890 2.50
1 1830 5.50 1.... 870 2.75
1 710 2.00. i 4.... 492 3.0
. CALVES
1.... 240 $ 8.7$ I 1 130 $1100
2 150 7.50 j 2.... 145 13.40
I. 100 10.00 I 2 . 120 13.00
11 156 13.00 j 1 440 10.00
HOGS
90 ... 187 $11.00 69 177 $11.0 1
10.... 1S7 9.00 j 14.... 275 9 65
1.... 660 6.65 2.... 385 7.65
5 . 3:16 8.65 1.... 460 8.09
1. '... 570 7.00 32 1S 10.69
15.... 226 10.65 5 236 8.6
11 ISO 10.65 5 230 IO.6.1
9 178 10.65 6,... 208 10.61
7 190 10.65 2 515 7 00
1.... 350 8.00 3.... 266 SOU
23.... 180 10.65 21.... 180 10. 6u
1 130 900 11 186 10.65
1 . . . : 120 9.00 4 195 10.65
6 163 10.65 5 18 10 6:
6 285 ,9.65 1 230 10. 6S
1.... 230 10.65 2i... 165 10.01
1 340 9.65 2.... 245 10.00
8 171 9.75 2.... 360 8. Oft
21 181 9.50 6 293 9.00
1 290 8.00 7 270 9.5
6 170 10.00 9 70 8.01
1 510 7.00 3 163 9.75
11 01 10.00 1 380 7 56
1 430 7.50 8 163 9.60
1 220 9.60 3 460 7.00
2 285 9.50 13 206 10.00
14 268 9.00 1 220 9 511
2. 195 9.50 1.... 240 !.5l
30.... 255 9.00 2.... 260 9.50
14.... 181 10.00 3 196 10 00
4.... 285 9.00
LA1IBS
12. . . . 72 $ 6.00
EWES
6...'. 126 $ 2.50 I 3 100 $ 2.5o
bills:
WHEAT
Hard White . . .
Soft White
White Club
Hard Winter . . ,
Northern Spring
Red Walla
Dec.
165
155
153
155
155
150
No. 2 white.
No bids.
gFEED OATS
, BARLEY
Jan.
165
160
160
160
155
150
"B". .
I ine. .
I.
3600 ,3600
CORN
No bids.
Sales 5000 bushels hard white wheat, Janu
ary delivery, at $1 65.
FOREIGN EXCHANGE RATES .
Corrected daily by the foreitrn exchange de
partment of the United States National bank.
Quotations below. ' except the pound sterling,
are Quoted on the basis of 100 unita foreign cur
rency. .
Opening nominal rates
Draft
London Check.
Lbs. -sterling. $ 3.77
Pari.!- Francs.. 5.89
Hamburg-Bremen-
on .bank transactions:
Cahle
Transfers.
$ 3.4 8
5.90
Par
Value.
$ 4.866
.19.30
Sales
No.
1 . .
No.
4. .
Av. lbs. Price.
11.
15.
Thursday Morning
COWS
Av. lbs. Price. No.
.1090 $ 5.00 I
YEARLING SHEEP
At. lbs. Price. .No. AT. lbs. Price.
. . 105 t 6.00 I
HOGS
175 $10.50 I 1
5
1
154
200
10.35 J
10.35 J
130
228
510
$10.50
10.35
7.50
PRICES
barrels.
WHITE LEAD Ton lota, 13 e; 500 lbs..
X 3 H c per Irv i.
TURPENTINE Tanks. $1.41; easea. $106-
10 case lots Jc less. " "'
Hops, Wool and Hide
. HOPS Nominal. 1920 crop. 2528e
HIDES Calfskin, 8 10c; kC 78c
f reen hides. 8 6e per lb oc '
. MOHAIR Long. 25c; short. 15e.
. TALLOW i.NI GREASE No. 1 tallow, 5e;
CASCARA BARK New, 8c lb
' 23epiVitb7"CCrSe" l0c; medium. 20c; fine.
Chicago Dairy Prod nr.
Chicago, Dec. 16. tL N. 8) Butter
, Receipt!., 3555 tubs. Creamery, extras file
i tun. 37 m 47c; packing stock. IS 22-7
Bgj:eepts 2033 cases Miscenanecus
, ivu; oruinary ursta, na68c-
- - o uuv, uiruea. 61
at5.ic - - .
Cbeese Twins, new. 21e dilum nie
1 22 0: Young Amerieaa, 24 24 c;' Long
horns. 23 24c: brick. 19c
wn rouitry lurseys. 38c; chickens. 16
tie; epnngs, sac; roosters. ISc; geese. 24c;
"?Tew Tork Sugar and Coffe
. Vork, Dec 16. (U. P.) Sugar
Quiet. Raw. $4.63j4.8S; refined, duU
! granulated, $8.25 X.75.
Coifee No. 7 Kio. 6Se; No, i
. Santoe. 9 10e. ' '
bt stores Market
.Vevr York Ier. 16. (I. N. S.)-r-Turnrir-
; New YorY 8c.
Srnnnali. ' 9L' (, no l'..
Savannali, $11.00-, New York. $8.75
Chicago Potato Market
s Chicsiro. 1W IA it v ' a v. r...
Rreeii-ti. 13 ears. Minnesota and Dakota, Oltios.
fj.wvei,.., juhuo suKts, a VO IS
3few Chicken Feed
Tfalfwav Or Ti IA Th. iv-1. , ti
creamery is trying the experiment of making
chicken -fed from casein. A man from I .a
...... v.u. fwjtfio. J.I1B
creamery is not making much cheese and as it
iiui ciiutMiTu w ma&e nutter tne milk is
separated and tlie cream shipped. The. casein is
left nd the nrohlmn is t,i ntili i. ..
profit
Floor BnyiDg Indorsed
Spokane, Wash., Dec. 16. Indorsement of
the Washington and Idaho Wheatgrowers' as
sociation, congratulations to the Montana
Wheatgrowers" association and "sincere felicita
tions to the proposed movement in Oregon
were framed by , the resolutions committee of
the Washington and Idaho Farmers' union in
convention in Spokane.
Mlnoeapolis-Dalnth Flax
Dnluth, Dec, 1 6. ( L N. S.) Flax De
cember, $1.89; January. $2.03; May. 82.10;
track and arrive, $3.01. , '
Minneapolis. Dec, 16. (I. N. SI Flai
track and arrive. $2.01. ......
. m
Dried Fruit and Beaas
New York, Dec. 16. (I. N. 8.) Bean
Market easy. Marrow choice, $9.00 asked- nea
choice. $5.005.25; red kidney. cho.;' 10c
Dried Fruits Market weak. Anrit-ota. -r,
choice to fancy, 2 9 3 6c ; arlerapV4tea!
14 20c; do 60s to 100s. 8llc- TJeachei!
extra choice to fancy. 1 8 21 T seeded
choice to fancy, 24 250? - ""n.
Tfew York Potato Market
New York. Uec. s- s
',bu-,ra' W M.rkei weakT N-el,
wbii. U2.50 ( 4.254 Bermuda,. $7.00 noo
Southerns. $1.50 3.00. x i.oo.
w Tork Metal Market
'New York. Dec. 16. (1. N. 8.) Comr
b-ruaryd- iaTof f :
oitTill M 1(ccember
Jfarks
Genoa Lire . . .
Athens
Drachmas. . .
Copenhagen
Kroner . . . .
Christiania
Kroner
Stockholm
Kroner
Hongkong
Currency . . .
Japan Yen. . .
Shanghai
Tack
1.35
3.48
7.35
15.10
14.80
19.70
55.50
49.50
70.00
1.35
3.49
7.45
13.15
14.85
19.75
56.00
4 9.75
76 50
23.81
19.30
19.30
19.30
26.70
26.70
48.84
"New York Wool and Hides
New York, Dec. 16. (L N. S.) Wool
Market weak. Itamestie Fleece XX Ohio, 29
52c; do pulled scoured basis, 30s73c; do Texas
scoured hatis, 6t) jx 95c.
Hides Market quiet. Native ateers 19
20c; branded steers. 1415c.
San Francisco Poultry Market
San Francifco, Dec. 16. (U. P.) Broilers,
5055c; large hens, 3335c; best ducks. 32
f 40c
STOCK
Alaska Gold
Alaska Juneau ....
Allis-Chalmers
Am. Beet Sugar . . .
Am. Bosch
Am. fan Co
Am. Car A Fdy. . . .
Am. Cot, Oil
Am.' Drug Sytid. ...
Am. Express
Am. Hide & Leather
Am. Ice . .
Am. Intl. ' Corp. . . .
Am. I.imeed . .....
Am. Loco. .
Am. Ship A Comrc.
Am. Smelter
Am. Snuff
Am. Steel Fdy.
Am. Sugar
Am. Knniatra
Am. Tel. A Tel. . . .
Am. Tt.baceo
Am. Tobacco '
Am. Wovil . . .
Am. Zinc . .
Anaconda
Asd Oil
Atchison . . . .
Atlantic Coast
Atl. Gulf & W
Baldwin Loco. ......
Ralto & Ohio .
Beth. Motors
Booth Fkh
Brooklyn- R. T
Butte C. & Z
Butte & Sup
Caddo Oil
Onadian Pac. . . . .
Central Leather . . .
fliicano N-W. . . .
Chicago Gt, W
Chili Cop.'
Chim '
C. SI. St. P
c. & o. .
Colo. F. & I
Colo. Southern
Col. Gas & Elec. . .
Con Gas ..........
Cons. Cigars . . . ; .
Coutl. Can
Corn Prod
Coaien Oil
C. R. I. & P
Crucible
lel. & Hudson. . . .
Dome Mines
D. A K. G
Erie
Fed. Ming. & Smelt
Gaston Wans
Gen. .Cigars '.
lien. "Electric
Cen. Motor
Ceanby . .
Great Nor. Ore. . . .
Great Nor. pfd ....
Greene Cananea
Gulf S. Steel
Houston Oil
Illinois Central . . .
Inspiration
Int. Agr. Corp. com
Interboro
Interstate Callahan .
Int. Harv
Int. Merc. Marine. .
Int. Nickel .......
Int. Pa;er
Mand Oil
K; C. Southern ....
Kennecott
Ick Steel .......
Irf'high Valley . . . .
Liggett & Myers . .
L.' & N
Mex. Pet
Miami -.
iHUlTr.i LOW, t BID.
. . . 1 1 30
. . . 1 49 I 45 I 46
. . .'! I i 55
22 I 23
120 121
23
1 '.o
17! 17 17
.1 7! 7
ill6
i. 6
. .1. . . . .
3
'si
8
40
29
87
70
98
115
6
'36
'si"
8
39
29
85
68
97 4i
114!llt
llll Va
HI i
7
110
6
39
37
52
81
. 1 ion
. 63
..-..!
6
30
'sok"
86
108
S7!
32 J
9
i i 2
36
68
i 9
27
57
26
54
78
fii
63
29
25
82
95
" '
13
54
120 V4
26
74
18
33
78
84
30
6
12
12
49
5
18
16
50
54
41
99 V.
!166
6
40
90
29
. 85
69
97
112
1 00
62
6
35l 36
i 86 V
79 3k f 79k
85 .1 85
106 107
85 I 86
32 32
2
3
9
4
8
13
112
85
67
7
8
18
26
50 Vi
26
23
54
78
54
60
65
8
iii' "
35
67
; "s
' 26
50
26
f4
77
'6i"
64
27
24
78
94
"'
12
. t . . .
54 "
119
26
72
18
82
77
83
30
3
!)5
Jl
12
48
4
18
16
49
53
41
98
162
15 I 15
24
80
94,
10
12
5
2
54
119
13
18
25
73
17
32
76
83
30
10
3
5
95
11
12
48
4
18
1
50
53
40
98
164
15
Total sales for the day were 730,000 shares,
with bond business' reaching $26,015,000.
r "
Selling Orders in
Wheat Hit Rise
Of Early Trading
Chicago, Dec. 16. (I. N. S.) Grains
turned extremely weak late in the ses
sion rafter maintaining a strong tone
uiostof the way. and prices dropped
rapidly to lower levels for the season.
News! from the Argentine that the yield
r.r thk n-hMt crnn is turninsr out better
than I expected and that farmers are
! pressing their grain on the market start
ed thie slump.
Provisions closed irregularly.
Final prices found December wheat
lc lower, March lc off and May
I iltc lower. December corn dropped
!l1i'i'c, March lVilc and July
I lrc off- Deoember oats lost i
14c, ay c down and July c
I -lower.
I Chilaao. Dec. 16. (I. N. 8.) Wheat
I - .. . . J 1 u..ttmd rnmmiiwion house buyme
while 5f ferine? were light. On the upturn the
market ran into resting orders to sell. Decem
ber opened c hieher and May 1. to 2 c
higher, while March was c lower to 1 c
kCom started quietly with a light trade and
December was unchanged. May started c to
He lower and July c to c lower.
After the i-nirg there was selling by a
prominent commission house which forced a
further decline.
Oauv opened with a light trade following the
general trend of corn. December was c to
c tower. May unchanged and July.. He, -to
c lower.
Provisions started dull and lower.
, ft
Rage of Chicago prices-as furnished by , the
Unitei Press: ... , '
' . "YVHEAT ' -
I Open. High. Ixw. Close.
December ... 164 16 163 .164
March! ...... 159 162 156 158
i CORN
December ... 68 69 67 67
May 1... 69 70 67 S
July i 70 71 68 69
I OATS -
Dcccntber ... 44 46 44 45
May i 47 48 46 47
July t 47 47 46 46
i RYE
December ... 153 155 152 152
May t. 139 141 136 .137
f BARLEY
Peceniber ... 66 69 . 66 69
May ). ..' 71 71 67 70
Cash barley. 70 90c.
j PORK
January .....2210 2240 2190 2240 ,
j LARD
January 1327 1327 1290 1317
May ..1337 1350 1312 1345
, f RIBS
Januab ...1142 1147 1120" 1132
May i. fl65 1183 1162 1180
7 Yielding 7
. Dated May 1, 1915. Due May 1, 1925
Price 90.75. Denomination $1000
This issue of bonds is a direct tax obligation of the
entire Province of Alberta qnd is payable from its
general revenue. j
Alberta is one of Canada's most promising provinces, and has every rcasnn fonufltmlted
development. Out of a total area of 161,872.000 acres there are at prevent hut 7.0IMI,
060 acres under cultivation. This comparison shows the possibilitires for growth ahead of
the Province of Alberta.
Mainly devoted to agriculture, its annuaf production in this line totals $260,906,951.
Other commodities are produced in the following amount.: Game: and furs, $175,000;
:oal and coke, $16,254,826; .manufactures, $40,000,000. !
r
$5000. 6 7, Coupon Gold Bonds. I
GOVERNMENT OF NEWFOUNDLAND
PRICE 94.30 To Yield 712
Exempt irom all Newfoundland Tavatlon. '
Dated June 1, 1918. Due June 80, 1928. Denomination,. $1 000.
Principal and srmi-annual ' interest of the above bonds payable in United States gold
win in New York city and at the offices of 5Iorris Brothers, Inc. j
Telephone or Telegraph Orders at Our Expense
MORRIS BROTHERS, Inc.
"The Premier Municipal Bond House"
Established PORTLAND, OR MORRIS BLDG.
Orer m 309-11 STARK BROADWAY 2151
QnarUr Other Offices at Seattle. Tacoma,
Cetturj Wastt and San Francisco, Cai.
Capital
One
Million
Dollar
7
w SAFE DEPOSIT BOXES
l712
AMERICAN LIVESTOCK
Omaha Hogs $8.65
Omaha. Dec. 16. tl. N. S.l Hogs Re-
1 ceipts. 9000; active steady to strous. Bulk,
$8.25 W 8.0a; ttp, 8.5.
Cattle Receipts, 3400; early sales beef steers
and she stock, steady; undertone weak. Top
steers, averaging 1050 pounds, $11.75; veals,
50c lower: stackers and feeders, dull.
Sheep Receipts, 9000; early sales sheep and
lambs, 50 7 5c lower ; market slow. Top lambs,
$10.50; ewes, $4.40 s feeders, nominal.
Chicago Hogs $9.25
Chicago. Dec 16. ( L N. S.l Hogs Re
ceipts 44,000; about steady; bulk, $8.90 (
9.05; top, $9.25 heavyweight, $8.85 9. 00;
medium weight. $8.90 9.05; light weight,
$8.90(3 9.10; light lights $8.90 & 9.25; heavy
packing sows, smooth $8.70 g 8.S5 ; packing
sown, rough, $8.50 8.75; pigs, $8.65 9.25.
Cattle receipts 10,000; mostly steady. Beef
steers, medium and heavy weight, M2.50W
14.50; choice and prime, $1 2.50 1 4.50; me
dium and good, $8.25 (g12.50; light weight,
$8.60 14.25; good and choice, $9.60 14.25;
common and Ine'lium, $6.25 (g 9.60; butcher
cattle, heifers, $4.40 c 10.25; cows, $4.25
9.00; bulls, $4.75 W 8.25: canners and cutters,
cows and heifers, $2.75 4.25; canner steers,
$3. 50 5.00; -veal calves (light and handy
weight), $8.00 10.00; feeder steers, $6.25 &
9.00; stocker steers, $4.25 7.75; stocker cows
and heifers, $4.25 (9 6.00: western range cattle,
beef -steers, $7.25 10.00; cows and heifers.
$4.60 a 6.25.
Sheep Receipt 28,000; fat classes 50c $1
lower; lambs 184 lbs. down), $9.75 11.50;
lambs, culls and common. $8.75 & 9.50 : yearlina-
i wethers, $6.50 9 SO; ewes. $4.00 8 5.50:
ewes, culls and common. $2.00 4.75; breeding
eww. $4.50 6.00; feeder lambs. $9.00
10.73. '
Denver' Hogs $9.00
Denver. Dec. IS. (U. P. ) Cattle Re
ceipts, 600; dull. Steera, $6.00 9.50: cows
and heifers, $4.50 6.50; stackers and feeders.
$6.00 t 7.50; calves $7.00 1 1.50.
Hogs Receipts. 900; steady, 10c lower.
Top. $9.00; bulk, $8. 25(4 8. 75.
Sheep Receipts, 15.000; steady. Lambs,
$8.50fe 9.5U; ewes. $4.005.0o; feeders.
$8.00 (9 9.O0.
Seattle Hogs $10.75
Seattle, Dec 16. I. .N. S.) Hogs Re
ceipts, 2; lower. Prime lights, $10.25
10.75: medium to choice, $10 25 11 25;
rough heavies. $7.25 7)75; smooth heavies'
$9.25 & 10.25; pigs, $8.5010.00.
Cattle Receipts. 157; weak. Prime steers,
$8.50(8 9.00: common to good. $5.00 8 50
medium to choice. $7.00 8.00; best cows and
heifers, $6.25 (t 6.75; common to good, $3.50
45.00; medium to choice, $5.00 fa 6 00
caives. $6.00 m 13. 0: bulls, $4.00 is 5.50 '
Sheep Receipts, none.
San Franrlsco Cash Barley
San Francisco, Dec 16. (IT. P.) Barley
Spot feed, per cental. $1.40s) i.as- shtnutna
$1.351.60.
1
i
The same sound judgment which has
guided the affairs of this bank for. more
than three score years guides it today in
the selection of the bonds it offers you.
A Substantial Utility Company , of the
Pacific Northwest
We own and recommend for investment
First Mortgage 5 Bonds of the
Pacific Power & light Co.
Due August i, 1930
THIS COMPANY serves exclusively the famous
Yakima and Walla Walla valleys in Washington,
and Pendleton, The Dalles, Hood River and Astoria,
Oregon. . .
Seventy-five per cent of their gross
earnings are derived from the sale of
of electric light and power.
PRICE TO YIELD
8
l I
UeSiFe
Oldest in the
Jiortnwesf
WASHINGTON AT THIRD
Facts 5o. 69S
PROTECTION
The protection of pavement foun-
pationa against the disintegrating
bffects of traffic, water and all
pther agencies tending to destroy, is
pis much a function of -a wearing
kurface as is the resistance to the
ear and impact, of the traffic
Itself. None but -an asphaltic type
bf pavement will give the protection
So greatly-needed. Specify
WARRENITE
f .-
BITULITHIG
and you secure this protection
WARREN BROTHERS COMPANY
Efficiency
.:-. and
Low Cost
F.W.Baltes
& Company
Printers
First and Oak Streets
Main 165 Auto 511-65
K toe la. Boads. Coltoa, llrala, Kte.
tl - $17 Board of Trade BcOnior
MAKE PERMANENT:
INVESTMENTS NOW
. i
History repeats itself, but it takes years toxlo it and you
may never again have the opportunity of making invest
ments at such high interest rates as now offered.
Thetefore, it is sound business judgment to get your
money out for as long a time-as possible, j-To get 7 per
cent and 8 per cent it-is not necessary to depart from the
safe, established kind of securities. You do not need to
speculate in new enterprises, j
You can buy from us . To Yield
State of Oregon 58, due 1949. . .5.20
Pacific Power & Light Company: . .8.00
First Mortgage 5s, due 1930
Pacific Power & Light Company. . .8.00
Secured 8s, due 1930 '
Washington Pulp & Paper Corp . . .8.00
First Mortgage 3s, due 1935 j
Write, telephone or call for further information
lyth;
Witter l Co
UNUED STATES CCTvTRJVlEirr MUNICIPAL Am) C0RPC3?AnOJ1 : 'j
Yeon Building, Portland '':.. Tefephone Main 8183-
San Francisco Seattle
Lot Angeles
New York
i
DIRECT PRIVATE WIRES j
TO ALL EXCHANGES !
t v-, . r . , -Members
Cfclcaro Board of Trads I
Crrspoeau of Lotraa Bryaa
- : .! Cale(t ' Xww Ior ' J
THIS BOND IS OF SUCH HIGH
CHARACTER THAT IT IS A :T
LEGAL INVESTMENT FOR
Price
100
To
Yield
OREGON SAVINGS BANKS
WHEELER
TIMBER COMPANY
' 5-Year 7Vz
Gold Notes
' ' - .-- .,,-!';. . '
- Den. 1100, 500 1000.
NThij 1400.000 issue is secured fcv California
lands and timber worth over 2,000,000. More
than '1,000000 worth of REDWOOD is in
cluded. In addition,- the loan: is secured by
stockholders in the company, i
Call, phone or-write
for circular, j
i -.-. ..:.
WavaaVa-IJtflJil1! fsSAiriTIT
TRUST COMErWj limui
Broadway and Oak
3