THE OREGON DAILY JOURNAL.. PORTLAND, , OREGON
WEDNESDAY, APRIL 47, 1921.
14
15 P. C. WAGE CUT
IS PROPOSED BY
SHIPPING BOARD
Washington. April, 27. (U. P
A wage cut of no; less than 15 per
cent and elimination of overtime was
proposed by Admiral Benson, chair
man of the shipping board, today to
teamen .and shipowners who met
adjust differences , which
a tieup of shipping j on
here to
threaten
May 1.
The proposal was formally 'rejected
this afternoon by Ah Marine Engineers'
'association. '' i
William Brown, head of the organisa
v tion.. stated that the engineers would be
'Willintr to negotiate the question' of
working regulations, but would not I ac
1 cept a wage reduction. '
' VOM EREXCiu OOKS OX
. ile indicated,, however," that his organ
iiation would He willing to consider ; the
matter further. j
After statins that the chipping board
' would insist Upon its proposal for a wage
reduction. Admiral Benson refused to
ixsrmlt the conference to break up, when
both marine workers and shipowners
announced that there ,was no longer a
need for negotiations. j
Admiral 'Benson announced that Uhe
conference would be continued on'Kri
day. Both parties to the controversy
are expected to hold sessions here: to
morrow. . .
At the same time Benson declared for
the open shop on American vessels, con
tinuation of the sea service bureau
which the men want eliminated and for
the 1 strict observance of the LaKolictte
. seamen's act. which the shiDuimr owh-
ers are urged should be given a liberal!
interpretation. , s
FOISTS TO lOHEa COSTS j '
Follow Injr Benson's statement, -i the
men and the owners with members of
the shipping board present began a dis
cussion of' their case. It was expected
tnat an attempt would be made by, the
owners, wljo announced a 35 per cent
wage cut, to bring in the department of
labor as the principal conciliator. This
Till L I J 1 li T .-.
Benson explained that wages of sea
men bad been raised during the war
to meet high prices.,
"The new economic conditions and the
changes In living- costs call for reduc
tions in wages at least, as great as the
recent drop in the cost of living, which
reflects the return of the dollar toward
its normal value," Benson said.
MT ST KNFOKCK 1AWS
Benson then recalled that last Feb
ruary the shipping board and owners
. had Invited the seamen to make volT
untary wage concessions. The men made
no concessions,, he said.
Speaking f the demands of the men
for enforcement of sections Of the sea
men's act, providing that crews on
American vessels must be able to under
ftand Knglish and that proper life-saving
equipment be provided, Benson
said : '
"It is my opinion that any act of con
. press, until definitely repealed or modl-
- ute-books, should be enforced by the
'department charged with such enforce
ment." . Benson made plain that he was not
basing recommendations for wage cuts
on the present slump . in the shipping
trade, but on changed' economic condi
tions, i v
MAKES THREAT
Following the statement by Benson,
Andrew Furuseth, head of the -Seamen's
union, and K. B. Griffin, head of the
Stewards and Cooks' union, spoke. Grif
fin threatened the ship owners. if wages
are reduced.
"If my wages are reduced 13 per cent
I will make-it my business to see that
. the owners lose that 15 per cent and
more," eaid Griffin, adding that if
other members of his union did not
- know how to bring this about, he would
' instruct them. - .
Furuseth declared that the reduction,
, instead of 15 per cent, would aggregate
40 per cent because of the abolition of
overtime.
and both coastwise and trans-oceanic. -If"
the strike is effective it will vir
tually wipe the American flagf for a
time at least, from the seven seas.
PACIFIC COAST SEAMEN
i AXD OWNERS STAND PAT
San Frarvpisco, Cal.. April 27. (U. P.)
Seamen and shipowners of the Pacific
Coast today were trimming sails for a
storm, and at the same time predicting
fair weather, j 5
The seamen have promised to strike
on May 1 if the shipowners attempt to
place In effect proposed wage reductions.
Xhejwtprofess a belief, however, that
wages will not be cut, -
The shipowners - declare that if the
men strike they will be able to operate
at least enough vessels to handle traffic
by hiring new crews.
The shipping board will continue to
operate its vessels ofi this coast regard
less of the action of the men, according
to H. H. Kbey, district manager of ope
rations. ; j
J. P. Williams of the Pacific American
Steamship association predicted that the
number of ships in operation will -be re
duced in the event of a strike.
"The present volume of trade could
be handled easily by fewer vessels," he
said. t
Wages now paid on this coast range
from $330 to $412 for captains, and $350
to $387 for chief engineers, down to $65
for ordinary seamen and $40 -for cabin
boys. Able seamen get $85, firemen $U0
and water tenders $35. "in some in
stances slightly more is paid. v
PAC C
HIGHWAY
STRIKE WOUIiI DRIVE 1 i
FliAO FROM SEVEN SEAS
By W. M. Keabrook j
' New York, April. 27. "We have is
sued no ultimatum. We are willing to
discuss a modification of the proposed
vaw reduction and to make every rea
sonable effort to reach a mutually sat
isfactory agreement," said Winthrop Jj.
Marvin, vice president of the American
"Steamship Owners' association, here to
day. i
"We stand absolutely pat," said (Will
iam S. Brown, national president of the
Marine Engineers' Beneficial associa
tion. "We will consider no wage reduc
tion whatever'
If the Washington conference,! now
in progress, fails, it is predicted by both
tides that the' strike will be inevitable
unless the federal government steps tn
and prevents it by drastic action. Toe
gigantic walkout as now planned and
ordered involves 18,000 marine : engi
neers. 45,000 marine firemen, 110,000
members of the Seamen's union and
perhaps 200,000 more marine employes.
It will involve all Atlantic, Pacific
and Gulf ports, all salt water steam
shipping, both passenger and . freight
ROUTE INDORSED
Oregon City, Ar,rir 27. The route
of the Pacific highway-through Ore
gon City was in-iorsed by the Live
Wires of the Commercial club- at
their Tuesday luncheon as follows:
East from the end of the suspension
bridge to Railroad avenue, south to
Fifth street,' and under the tracks
of the Southern Pacific railway and
south again .to go over the hill at
the southern end of the city and to
join the presenc highway about
midway through the village of Can
emah. 1
A resolution indorsing this route was
passed after j considerable debate over
four routes possible. ,Thlle the one se
lected is not the least expensive to uild,
it will open up another street in Oregon
City and be of general benefit to all
busineses, according to the sponsors of
the plan. 1
Another resolution wSs passed urging
active cooperation in the erection of a.
new bridge across the Willamette river
at this point, and authorized the ap
pointing of a committee from the Have
Wires, the city council and the city of
West Linn to assist the county court
and the state highway commission to
get the plans under way. M. U. Latou
rette was selected to represent the club,
and Dr. Hugh S. Mount, chairman of the
street committee, will serve for the city.
The West Linn member will be named at
meeting this week. v
Main Trunk Brodie appointed A,; C.
HowlanrT as trolley wire. Rev. "JM. T.
Wire as feed wire, L. A. Henderson as
resolution committee, and L. AdarnSNas
contact committee.
MORE JOBS FOR :
SKILLED LABOR
By Ralph Smith
Special Correspondent of The Journal
Atlanta, Ga., April 27.- Less un
employment among skilled labor and
less idleness among unskilled work
erg in the cities, with a correspond
ing increase in the farming activi
ties throughout the Southeast have
combined to stimulate a spirit of op
timism that is reflected in general
trade conditions.
It is becoming more and more appar
ent that skilled and unskilled labor have
decided to "pocket their losses" just as
the merchants and farmers have done.
Certain it is that farm labor is plentiful
and at a cheaper wage scale than has
prevailed heretofore for several years.
It is equally as obvious that skilled arti
sans in the building industry especially
may be secured on far more satisfactory
terms than have obtained.
In consequence of the 'labor adjust
ments" the building activities in the
cities and towns have called into service
most of the men who' were unemployed
a month or two ago. In the rural dis
tricts farming operations have attracted
from the cities much labor that was
thrown out of work with the suspension
of industrial activity. A year ago it was
Impossible almost to get farm labor at
any price, and this condition helped in-,
crease the cost of making the cotton
crop. Pre-war scales now prevail on the
farm and it is the boast of farmers
everywhere that the 1921 cotton crop will
be the cheapest ever made, j ;
"Auxiliary Plans Dance
Oregon City, April 27. Plans for a
dance to be given in May were made by
the Woman's Auxiliary of the American
Legion Monday evening and the fol
lowing members were named as a com
mittee to handle the affair ; Mrs. Sophie
Moody, Miss Mary Mitchell, Miss Kvelyn
Handing, Mrs. Mary Caufield. Mrs. W. J.
Wilson, Mrs. Gertrude Criswell, Mrs.
Grace Eby, Mrs. Sarah Parker and Mrs.
Maud Cooper. The local branch will
send delegates to Portland April 30,
when a meeting will be held to organize
a state auxiliary made up of the chap
ters in the various" cities in the state.
Mrs. Mary It. Caufield. president of the
auxiliary, and Mrs. Maud Cooper -will
represent the Oregon City organization.
Children to Be Organized
Oregon City, April 27. Organization of
a children's group, to be known as the
Loyal Temperance legion, will take place
Saturday afternoon at the Presbyterian
church. The meeting has been set for 2
o'clock. Mrs. Wilbur Warren and Miss
Gladys Trimble will be in charge.
TRANSPORT ATIOX
ASTORIA AND WAT POINTS
STEAMER GEORGIANA
Bound trip Dfi (Except Friday)
LesT Portland 7:16 a, M Aider St. Dock
Direct Connections for Seaside,
FARC XZ.OO EACH WAY.
Night Boat Daily (Kxcept Sunday) 8 F. M.
Direct Connectiona for North Beach.
Main 1422; 641-22 Aider St. Dock.
Marriage Licenses
Oregon City, April 27. Bertha Azora
Straw of Monitor and Virgel H. Haller
of Woodburn were issued a marriage
license Tuesday.
Mrs. Binford Asks Decree
Oregon City, April 271 Ureth V. Bin
ford filed suit against Jay T. Binford
asking divorce on the grounds of cruelty
and ' asking custody of a minor child.
Two Men Confess
To Stealing, Says
District Attorney
Corvallis. 1 April 27. Mason R. Hudg
ens and Jack Kieth, charged with taking
clothing and personal property from the
cabin of S. A. Johnson last January and
from Tom McClaughry, Friday; con
fessed, according to District Attorney
Clarke, and were bound over to the
grand jury, on $1000 bond.
S - --
A new bicycle owned by Jesse Follett
and stolen Sunday evening while he was
visiting his aunt. Just west of Philomath,
was found Monday in Woods Creek with
a small portion of the seat visible above
the water, f . ; ;
Pi
(t
Ship
by Water"
WILLIAMS LINE
. DIRECT SAILING FROM PORTLAND
Savannah- CharlestonBaltimore
Philadelphia Newj York
. LOADING DATE May 5th
for bates and epaCe APPLY to ! f Broadwa 1433
A. C. CALLAN, Agent Phones Broadway 1434
414 Oregon Building, Portland, Oregon j" A Broadway 33o
Mrs. Eose Edwards,
Philomath Resident,
Dies at Sanitarium
Corvallis, April 27.: Mrs. Rose Ed
wards, resident of Philomath for many
years, died Monday in the state sani
tarium at Salem. Funeral services will
be held at her former home in Kings
Valley. Surviving are two sons. John
Edwards and Orville Edwards of Philo
math, and a brother, Clay Bush of Monmouth.
PRICE CONCESSIONS FORCED AT OPENING OF NEW YORK TRADE
STEEL INDUSTRIAL
SHARES ARE HIT
Xew York, April 27. (I. NT. S.) The
stock market closed weak today. .All
the leading Issues were pressed for sale.
The selling movement followed the re
duction ia the Pennsylvania railroad
dividend, the stock being sold - down
from 36 to 34. Losses of 1 to 2 points
occurred in the other rails'. Northern
Pacific sold at 72, Reading at 7U and
Great Northern at 70. United Fruit de
cline 3 points to 109 and , General As
phalt, after moving up 6 points to 73,
fell to (O'i. i U. S. Steel yiefded to S3
and Bethleheam' B to 68. Mexican Pe
troleum dropped 2 points to 150 and
Studebaker lost over 1 point to 86.
Government bonds, unchanged ; rail
way and other bonds, irregular.
. Total sales, 873,340 shares ; bonds,
$11,661,000. ! i. ;
The Davis sawmill west of Philomath
resumed ;full operation this week.
The Rev. IX J. Ferguson of Philomath
is in Vancouver, Wash., assisting Dr.
Nisewonder in revival services. .
Mr. and Mrs. A. L. Burr of Philomath
plan to leave Philomath to engage in
business in Hopewell. ;
-F. E. Jones of Marysvillc, Cal., is ex
pected in Philomath in a few days to go
into business with his brother, G. H.
Jones.
Mrs. Fred Thomas of Shedd is visiting
her parents, Mr. and Mrs. R. L- Henkle
of Philomath, " while Thomas is at a
Portland hospital.
The Foster Lumber company resumed
work with a full force this week.
Mrs. Gertrude Fisher of Seattle is a
guest of her parents. Professor and Mrs.
Henry Sheak.
Mr. and , Mrs. Charles Overton of
Philomath plan to move to Newport.
Reserve Bank Head
Supports Loan to
Cattle Producers
Chicago, April 27. ICverett C. Brown,
president of the National Live Stock
exchange, today issued the following
statement: , - '
"I iwm advised from an unquestionable
source that W. P. G. Harding, governor
of the federal reserve bank, has recom
mended that congress enact legislation
directing the secretary of the treasury
to turn over $100,000,000 of the profits
of the federal reserve bank to the differ
ent federal land banks, to be lent by
these banks on stock cattle for the pur
pose of assisting cattle producers.
"The National Live Stock exchange
has given its unqualified indorsement to
this action, and the 27 local exchanges in
its-membership are vigorously pressing
the proposed legislation. If enacted, it
will enable a multitude of livestock men,
who have suffered tremendous losses and
who might otherwise be forced out of
the business, to continue production.
Consumers also should receive a benefit
from the increase in production which
will be made possible.
Geo. Collins Put on
Information Bureau
Salem, April 27. George T. Collins of
Medford has been appointed by Gov
ernor Olcott as member of the tourist
Information bureau, created by the last
legislature. Collins is manager of the
Mason-Ehrman Wholesale Grocery com
pany's plant at Medford. : He was ap
pointed to fill the vacancy caused by
the fact that E. C. Simmon of Eugene,
one of the original appointees, was un
able to accept. Simmons informed the
governor that he could not attend meet
ings owing to pressure of business. '
300,000 Bushels
Of Wheat Signed Up
The Dalles, April 27. More than
3,000.000 bushels of the 1921 -wheat crop
in Oregon will be sold by the Oregon
Cooperative Gra n Growers' association,
as the result of additional contracts
already signed up this week by repre
entatives,of the organisation, more than
120.000 bushels have just been signed by
Gilliam- county wheat men. and in Wal
lowa county, as a result of two meet
ings, 70,000 bushels were signed up "on
50 contracts. Additional meetings are
being held in both of these counties
this Week.
Jenkins Leaves for
New York Thursday
Chief of Police L. V. Jenkins an
nounced Tuesday morning that he would
leave for New Tork Thursday morning
to attend the national police convention,
where an effort will be made to institute
a national police bureau. Jenkins was
scheduled to leave last week, but the
serious illness of Mrs. Jenkins caused
him to delay his trip. Mrs. Jenkins is
much better at St. Vincents hospital,
where she is recovering from pneumonia.
; ' ,
America imports almost twice as many
nuts as it produces.
New York, April 27. (I. N. S.) The
stock' market opened active and weak to
day vith declines ranging from to
over 2 points.
IT. 8. Steel 1 opened at m decline of 1 point,
ranging from 85 to 84. Crucible dropped 1 9
to --81. Sinclair Oil was .down at 27.
Baldwin was off at 89. Studebaker declined
Vi to 86 . ! Mexican Petroleum fell 2 14 to
ir,l4. Pennsylvania, whoae directors .meet to
day to act on: the' "dividend, was lower at
35. Bethlehem B Joat 1 7i to 59. tien
eral Asphalt broke 1 t to 67. Republic Steel
declined 1 to 64. Vanadium droiped 1
to 33. American International fell 1 point
to 4 5. Southern- Pacific declined to 75 14.
Central leather fell - M to 3.
The impression prevailed that the speculative
element had concentrated its effort for the
time on the steel industrials. I The tailing of
I'nitedStateB Steel -when that stock yielded to
SZ 5 . was characterized as a bad drive and
attention was called to the fact that the selling
was not. in large volume. i
KeDiiblic Stel yielded over 2 twinta to' 63 14.
and a decline of over 2 points iip Bethlehem Steel
rt was regarded aa natural. ; t,eneiai : AsjJuaii
moved lip over 3 point to above 70. Royal
Ihiteh moved up over 1 point U 67 Vi oo Amster
dam buyinc. Studebaker also became stronc.
advancing over 1 point Toward the end of the
first hour, the railroad stocks again herme prom
ineut and advanced. Ct. Paul preferred rose
points to 42.
Furnished by Overbeck
of Trade building:
STtK'K.
&. Cooke Co., Board
Bid.
High. 1
. . . . lAtrr. t'fcera.
40(Ajaax Kubber
lOOjAlaska tSold . . ,
. . . . Alaska Juneau
UOOjAllis-Chalmers
. . . . I do pfd. . . .
3&14I
P- J
34
Beet Sugar. . .
Bofecii
Can Co. . . . . .
pfd
Car & Fdy..
Irrus. Syn. . .
200!Am.
lAa.
OlOOjAni.
3001 do
oOOAm.
Am.
StOOiAllied rhem
' LiOdiAm Hide & Lea . .
lM(Oj do pfd
200Am. Ice
4J00Am. Intl. Corp. . . .
lAm. Linseed . . . .
do pfd
900Am. I.dccmotive . .
Am. Safety Bazor. .
300Am. Ship. A. t'ium .
1700;Am. Smelter , . . .
70O do pfd
400Am. Steel Fdy
89i0jAm. Sugar
500 jdo pfd. t
4 00 Am. Sumatra
T. & I
Tobacco
Tobacco
Wool. . .
Pfd.
4700
HH00
Am.
Am.
Am.
18600jAm.
;do
"B"
37 37
1 1 t
1 . . j . . . i .
i Si I '-30 14
! 83. I 83
Sl23 MAIL'S
i 1
43 1i
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45 H 44
5 58
45 H I 44 hi
86 Ts 86
D ? I 5
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30 hi 30
j 88 Hj 87 H
107S 107
i 1 2M 1 1 1 7
!l 17 ill 5
f 70H
i
do ifd.
tOOAm. Zinc.
70tr;Anaconda .
Asd. Oil
, 700'IAtchiaon
lOOido pfdT
lH400Atl. Gulf & W. I..
!)400fBaldwi:i Loco
1800!Balto & Ohio
aoiddfj pfd
200;Beth. Steel "B" . . .
B. U. T
900But.te & Sup
700;Caddo Oil
200iCalif. Packing
1700jCahf. Pet.
1 400Canadian Par
SSOOiren. Ivratlier
700('erro I)e Pasco. . .
41O0,Chandlr Motor. . . .
SOOjCheo. & N. W. . . .
10();Chirago (it. XV. . . .
100 1 do pfd
300:t'hili Copper
800'hino . . . '.
44O0C, M. A. St. P.
"3''0() do pfd
C 00 ! Coco Cola
13'HjC. & O
40fl'(V)lo. V. I. .
800'Colo. Southern ....
7(0Col. 'mis & Elec...
IMfOOit'olumjbia Omph.
5 OOj Con. t;as
fiOOjC-ons. 4'igars ......
800jContL fan
JOOConU Candy ......
2000:Corn Products
..-...) do pfd. .
21M0iCosden Oil
UHQO C, K. I. & P. . . . .
70O do "A" pfd.
500 do "B" pfd
1700 Crucible
1001 do pfd
800Cuba Cane
tiOO! lo pfd . . .
800Cuban Am. Sugar ..
70Olel. A Hudson ....
300j Horned Mines
100;l. & H. U
1100I. &. R. ti. pfd...
3200ir3ndicott Johnson..
L'300Erie ,
1000; do 1st pfd. ... .
I do i pfd.
11700! Famous Players . . . .
Fed. 11 in. & Smelt.
j do pfd.
500iFisJt Tire
iaston ,Vms
200Gen. Cigars
itien. Klec
10900jien. Motors
. . , . . Gen. . Mot G
ioodjear
97 100'Cen. Asphalt ....
1200 Ooodrich
..... I J rii nby
400Ureat Nor. Ore. . .
4600 threat Nor. pfd..
..... jOreene Cananea . .
1400itSnlf S. Steel
800Hupp. Motors . . . ,
1100Houston Oil
400iUls. 'Cent,
2200Insptration
78 T
200
200
300)
2500
"iooo
1900
4200
Int. Agr. Corp. e . ;
do. pfd. .......
Interboro . i . . . . .
do - pfd. .......
Interstate Callahan.
Int. Harv. ...
Int. Merc. Marine .
do ! pfd
Int. Nickel ......
1200ilht. Paper ......
I uo pfd.
2200ilnvincible Oil ....
. 700iLsland Oil
ffSOtlK. C. Southern...
1001 do pfd
270O!Kelly-Spgfld
3000 KemiiecoU
800iKeystone Tire . . .
1500 Lack. Steel
lOOiLee Tire . . . . .J. .
600! Lehigh Valley . . .
" 100Lorillard
100!Maiwell Motor ...
200i do 1st pfd. ......
4470I)iMex.i Pet . . .
lOOOiMiami
11200; Middle States
2600Midvale Steel .
M. K. & T. . .
do. pfd.
I Mont. Power
1900 Mo. Pac. ....
2600 do pfd. ...
1600IMont.-Ward. ..
300N'at. f Enamel .
I 41 14
40
80 H
36
49
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13 hi
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Nat. Lead
Nevada Con. . . . .
New Haven , . . . ,
Norfolk tc XV..,.
Xor.j Pac ,
Nova Scotia Steel ,
N T. Air Brake ..
2300 i-V. If. Central ... .
Wkla. prod, ret
Ontario Silver . . , ,
Ontario A W. . . . i
Otw Steel ........
Pacific Oil ......
I Pac. Gas tc Else.
luOOOjPan Am. Pet. . . .
600 Pan Am. Pet. "B",
38800 Penna .........
3600;Peo. Gas . . . , . , ,
..... iPere Marquette . .
Philadelphia to. .
1500 Pure Oil . . . . .
2100 Fierce-Arrow ....
100
1000
1800
200
12000
100
300
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10400
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13v
, 71
9
79
37
22
SO
70
23
34
14
81
91
35
8
46
4
12
5
91
14
53
15
59
20
4
26
50
42
20
15
52
27
49
152
I 7
150
23
15
28
2
4
52
18
37
20
61
75
12
17
94
72
36
73
68
4
4
17
12
37
50
71
62
33
46
18
l
35
33
Optimistic in
Leather Trade,
With More Sales
Boston. April 27. The entire lea
ther trade is turning optimistic. Let
ters and telegrams from all over the
country indicate dealers and pack
ers are not anxious to sell even at
the slightly higher prices prevailing,
while : tanners - are much more
anxious to purchase. Large orders
for fall shoes are being placed by
retailers and mtreh earlier than
usual. .There is therefore a general
broadening demand and a number
of large producers are running at
close to full time.
AC MY
REVIVAL
IS NOW FORECAST
. New York, April 27. "The low
points already reached by many
prices and the increased activity
noted have resulted in a growing
confidence in business circles that
some branches of industry are now
experiencing what will prove to be
the beginning iof a general revival
of activity," says the survey of the
Guaranty Trust company, -out today.
Complete readjustment has not been
reached, however, and the trust
company fVels it may be years be-,
fore this is accomplished. "The. sur
vey continues:
"Any broad readjustment of commodity
prices necessarily invoives changes in
wages also; there are' exceptions, of
course. As in the case of prices, some
wage scales now remain at the high
levels reached in the boom period. On
the whole, however, wages are being re
duced without extreme opposition on the
part of the workers, but the process of
revision has not been completed."
PACIFIC COAST EAJrS STATEMENT
Portland Banks
This Week. Tear Arw.
Monday $ 5,270,924.32 $ 6,428,258.20
Tuesdav .... 5.238.627.02 5.510,168.31
Wednesday, . . 4.544. 553. SO 5.036,408.49
Clearings
Balances
1 'iearinus
Balances
Clearings
Balances
Clearings
Clearings
Spokane Bank
Wednesday 1
Wednesday
Seattle Banks
Wednesday $ 4
Wednesday
Tacoma Banks
Wednesday $ 1 ,
Wednesday-
San Francisco Banks
Wednesday Is 1 9
Los Annates Banks
Wednesday $12
446.011.00
599.010.0O
051,947.00
918,997.00
443.978.00-
776.0O9.OO
.300,000.00
010.016.00
Standard Oil Storks
CLOSIXt-
Bid. Asked.
Anzlo 17 18
Borne .Scrysmer . . 360 39(1
Buckeye 83 . 84
Cheesebroufh 190 210
do pfd . 190 210
Continental 122 126
'rescent .................. 28 30-
Cumberland- 135 145
Eureka . . . 97 98
Galena, e -. . 4 2 4 4
Galena Old. pfd. 93 99
Galena New. pfd 93 99
Illinois Piiw 174 177
Indiana Pipe . 82 84 .
National Transit 27 28
N. V. Transit . 145 - 150.
Northern l"iiie : 93 98
Ohio Oil '. 318 322
International Pete 16 16
Penn Mfi 30 32 ,
Prairie Oil . . . . 505 515
Prairie Pipe 195 198
Solar Refs 410 420
Southern Pipe : ... 97 100
South Penn Oil 237 24 1
S. W. Penn Oil 67 70
S. O. California 77 77
S. i. Indiana 74 77
S. O. Kansas 625 035
S. O. Kentu.-ky 495 415 "
So. New York 379 374
S. O: Ohio 390 404
di pfd. . . . 110 112
Swan & Finch 35 45
I'nion Tank tfti 108
do pfd. 1 ' 93
Vacuum . .' 30O 305 .
Washington ; . . . . 28 32
S. o. Nebraska 1"5 175
Imperial Oil 97 99
FOREIGN EXCHANGE RATES
Currwted daily by the foreign exchange de
partment, of the United States National bank.
Quotations below, ecept the pound sterling,
are qucted on the basis of 100 units foreign
currency.
Opening nominal ra tes
Draft
London Checks.
I.Ks sterlina. 3.94 1i
Paris Fra-ncs . . 7.54
1 57
4.89
on bank transactions;
Berlin Marks .
Genoa Lire
Athens
Drachmas . ,
Copenliagen
Kroner . . . .
Christiania
Kroner
Stockholm
Kroner
Hongkong Currency
Japan -Yea . .
Shanghai
Taels
Cable
Transfers.
$ 3.95
7.55
1.57
4 80
Par
Value.
! 4.806
1 9.03
23.8 1
19.30
6.35
18.00
15.65
23.25
50.75
48.50
67.00
6.40
18.05
15 70
23.30
51.00
48.75
67.50
f Foreign exchange closed weak.
19.30
26.70
26.70
26.70
Sterling,
STOCK ) HIGH LOW B1L
WOO Pierce Oil 1 11 10 10
44O0 Pitts. Coal 62 61, 61
.. Pitta. & West. Vs.. 27 27 27
Pressed Steel Car 85
300 Pullman 106 104 104
700 Ray Cons 14 13 13S
14000 Reading 72 70 70
. . . . . Remington ,f32
200 Repiogle Steel . 33 31 T r31
13400 Republic I. A. 8... 64 63 63
. . . . , do jrfd 91
100 Rep. Motors 18 18 18
11800 Royal Dutch Oil.. 67 65 66
100 Ry. Steel Spg 88 88 87
H. O. Ind 73
1000 Sears Roebuck ... 86 83 85
Shattuck. Ariz 6
1 700 Shell T. & T 45 44 44
14300 Sinclair 27 26 26
600 Sloss Sheffield ... 43 42 42
10900 Sou. Pacific 76 74 74
1200 Sou. Railway 22 21 21
300 do pfd. 65 55 55
2000 St. I and S. K. ... 22 22 21
100 Stromberc C'arb 39
S500 Studebaker 87 86 86
Swift & Co 1O0
1000 Tenn. Cop. Chem. 10 10 10
7500 Texas Oil 43 43 43 ,
1000 Texas Pac. 21 20 20
3300 Tex. pac C. & O. . 29 28 28
Third Ave , - .-. .17
1700 Tob. Products ...54 52 53
105OO Tran. ContL Oil.. 12 11 11
180O Cnlon Oil DeL 22 21 21
1700 I'nion Pacific 117 116 115
I'nited Alloy ..... . . 31
300 Cnited Drug 96 96 96
2100tTiited ood Prod.. 20 19 19
7500 Cnited Fruit 112 108 109
Cnited Rds., pfd... 22 21 21
1 500 Cnited Retail Stores) i3 52 52
1900 1'. S. Ind. Alcohol. 69 68 68
6300IC. S. Rubber 75 74 74
SOOi do 1st pfd I 101
SOOiC 8. Smelting 33 33 33
33500 U. S. Steel 85 83 83
300O do pfd. Ill 110 1.1 0
2000TJtah Copper ..... 64 64 53
100 Va Chem 31
1160 Vanadium Steel ... 35 33 33
if 1000 Vivandou -. . 6
: 600Wabsh . 7 7 7
200Wabaah A pfd 20
. . . . . Wabash B pfd. 13
. . . . . IWeUa-Fargo . . ... 61
200Western Pac 26
200 Western Union.... 80 90 89
100 Weatinghst K. A. M .... 47
..... (West Md. . . i . .
200jWhit Motors..., 40
800!Willys-Overlnd ... 8 8 8
; S00 do pfd. 37 87 37
I Wilson Packing 43 42 42
1 OOj Wool worth ....... 116 1.16 116
SOOjWorth'n Primp...., 49 49 49
100, W. A L. E. ..... .1. ....(..,. , I
TRADE IMPROVING
N NEW ENGLAND
By Ktfson B. Smith
Special Correipoodent -of The Journal
Boston, Mass., April 27. Business
conditions in New England are
showing a slow' but steady improve
ment. The movement is spotty with the situ
ation varying markedly not: only in dif
ferent industries, but In different line
oV the same industry. Sentiment amopg
banks in this center, while still conserv
ative, is becoming Increasingly .hopeful.
Retail trade in Boston holds up aston
ishingly well. It is estimated that retail
prices today average 20 per cent under
those of' a year ago. Taking this factor
into consideration the aclual movement
of goods at retail is largsr than a year
ago. ; The stores catering to women's
apparel are doii g relatively better than
dealers in men's goods.
This, steady consumption is beginning
to have its inevitable effect upon New
England's principal industries. The buy
ing of heavy woolen goods has surprised
even the manufacturers themselves and
most of thd mills "have the -orders they
can handle for fall "delivery. These or
ders were obtained by price cuts, how
ever, which do not leave much profits
for the manufacturers. The American
Woolen company is working up to ca
pacity operations just as rapidly as it
can. '
In the cotton end of tha textile trade
the fine goods are selling and the Coarse
goods are not. There- has been a .big
demand for ginghams, percales, sheet
ings, towels and some other lines, wjhile
the demand for cotton du-.-k, bag fabrics,
tire and automobile supplies and rubber
ized clothes is. poor.
SHOUT TERM "OTES
Quotations furnished by Clark. KendaS at
Co., Inc.; '
Security. Maturity. Bid. Asked.
Am. Cot Oil 6s..... 9-2-24 89 0O
Am. T. & T. 6s 10-1-22 97 97
Am. T. 4 T. 6s 2-1-24 96 96
Am. Thread 6s 12-1-28 95 97
Am. Tobacco 7i. ....11-1-21 100 100
Am. Tobacco 7s.. . .11-1-22 100 100
Am. Tobacco 7s. ... 1 1-1-23 100 lOO
Anglo Am. Oil 7c. 4-1-24 1110 100
Armour Oonv. 7s. .. .7-15-30 96 14 90
Belgian Got. 7s..... 6-1-45' 97 07
Belgian ot, 6s 1-1-25 90 91
Belgian Oo. 6s..... 1-1-25 90 91
Beth. Steel 7s 7-15-22 99 99
Beth. Steel 7s. .... .7-15-23 98 . 98
British tiov. 5 s. . .11-1-21 99 'i 99
British Oov". 5s 11-1-22 95 95
Canadian lioi. 5s. 8-1-21 99 99
Canadian Oov. 5s.. R-l-29 92 . 92
Cudahy Packing 7s;. 7-15-23 98 4 98
Inter. It. T. 7s. . . : . 9-1-21 71 73
Japanese' Got. 4 s. .7-10-25 82 83
Kennecott Cop. 7s 2-1-80 91 91
Molina Plove 7s 9-1-21 98 ....
Molina Plow 7s 9-1-22 92 ....
Moline Plow 7s 9-1-23 90 ....
Moline Plow 7s 9-1-24 88
Pscific Gas 7s 5-1-25 95 97
Swift 6s'.. 8-15-21 99 994
U. S. Kubber 7s 12-1-23 08 99
Foreign Bond Market
Furnished by Overbeck A Cooke company
RuvJan 5 s, 1921 .
Russian 5 s, 1926..
Russian 6 s. 1919..
French 5s. 1 93 1 .
4.
5s,
5s,
5s,
5s,
3s.
vk.y.
1917. . .
1 920 . . .
1918. . .
1922. . ,
1927 . . .
1929.
4s
French
Frrnrh
Italian
British
British
British
British
British rut'. 4s
Belgium reft 5s. . . .
Belgium prem. 5s. . .
Uerman W. L. -6s...
Berlin 4s
Hamburg 4s .......
Hamburg 4s .....
LeStisig 4 a . . . .
Leipsig 5s . .
Munich 4s ........
Munich 5s ........
Frankfort 4s
Jai-anese 4s
Jaunes 1st 4s .,
Japanese 2d 4a...
Paris sixes
V. K. 5 s. 1921 . . .
I". K. 5s, 1922. . ,
U. K. 5, 1929. . ,
V. K. 3s. 1937. . .
Sew Tork IIoi
Furnished by Overbeck
of Trade building:
Atchison tJenl. 4s
Bait & Ohio field 4s .
Beth. Steel Ref. 5s ......
Cent, Pacific 1ft 4 s
C. B. - A U. Ctl. 4
St., Paul Ornl. 4 a
hkaso N-W. ienl
L A N". Cni. 4s ..
N. Y. Ky. 5s ....
Northern Par. I'. L
Reading Oenl. 4s ..
Union Pac. 1st 4 s .
U. S. "Stoel 5s
Union Pac. 1st Kef'.
Southern l"ac. C-onr.
Southern Pac. 4s
Penn. Conr. 4s ....
Benn. 1st 4 s
Ches. A Ohio Conv. 5s
Oregon Shirt Line 4s . .
I
Bid.
15
8
16
60
46
67 .
37
388'
372
374
299
270
63
liO
11
12
14
14
13
14
13
15
14
66
82
8 2
97
99
95
88
83
4s..
4s
5s
Oa
arket
Cooke Co
Bid.
.. 76
. . 66
,. 82
.. 72
. , 99
63
. . 73
. . 8 1
20
75
r7
9
95 hi
75
89
78
86
76
83
79
Asked.
17
lO
19
61
47
68
38
4 00
384
3S6 .
311
278
67
7 1
12
12
14
14
15
16
14
17
16
66
82 3s
8 3
98
99
95
fi9
83
B'oa rd
Aked.
76
67
83
73
99
63
75
81
J,3
5
77
89
95
75
ill)
78
86
76
83
80 14
Honey and Kxrhange
New Tork, April 27. (I. N. 8.) Call
money on the floor of the New Tork Stock
Exchange today ruled -at 6 per cent, . high
6 per cent low 6 per cent Time money
was steady. Kates were 6 e 7 ier cent.
The market for prime mercantile paper was
steady. CaU money in London today was 4
per cent
Streling exchange was strady with business
in bankers' bills at $3.94 14 for demand.
Liberty Bond Sale
(Reported bjr Overbeck A Cooke Co.)
High. liow. I lose.
3s ...
1st 4s
Liberty. 2d 4s
Liberty, 1st 4 hi a. . . .
Liberty, 2d 4 s. . . .
Liberty, 3d 4 a .... .
Liberty. 4th 4 s. . . .
Victory, 4 s
Victory, 3 ......
IJberty,
.iberty.
8870 8842
8746
8710
9040
8716
9734
9750
8680
882
90 20
8890
9746
9746
8842
8674
8676
8A82
9022
8894
9750
9730
Foreign Exchange Market
' New York. April 1 27. ( V. P. ) -Foreign ex
change opened with sterling at S3 94 ; franca,
.0762; lire, .0434; marks. .0156; Caadian dol
lars. .8912; kronen. .17 80.
foreign exchange closed weak. Sterling
$3.94; francs. .0757: lire, .0486; marks. .0135;
Canadian dollars, .8938; kronen, .1790..
a
Co-eds Sell Doughnuts
University of Oregon, Eugene, April
27. Tlfeta Sigma Phi, women's journal
ism fraternity, fed the campus Thursday
by selling doughnuts, the proceeds going
to the National Journalistic Register of
Chicago.
Retailers Slash
Prices to Follow
Pres. Harding
w Tork, April t .V foshloaabie
house, dealiag In higher prtred
women's garments, and with branches
In many of the larger rllles, makes
this announcement today,
"In -accordant with Freiddent
Ilardisg' nuRcrstlon that retail price
be restored to normal as anirkly si
possible, and in order lo give patrons'
as opportunity to liny at lowered
rotitft, we will bfght today Import
ant price concessions, offering- very
nnus'ual buying- Indarement through
out the lionse."- The line affected
were gowns, wraps, - coats, suits,
blouses, skirts, sports apparel, lints
and furs.
Deficiency: Fund
For Forest Fires
j -Asked by Wallace
S 'Washington, April !(WASHl.N'(5
TON BUREAU OF THE JOURNAL)
-Secretary Wallace of the department
of agriculture has asked congress for a
deficiency appropriSfrWrf of J130.000 for
the present fiscal year . for jjrotecth
of the forests from fire. Only 120,000
out of $975,000 made available for the
present" year remains unexpended,' he
says. - " .-.'' '
Adding this balance to . the" $130,000
now asked for, there will be a fund of
$160,000. which Secretary Wallaco "says
Is ' the amount required on. an average
for the period' up to July 1, when nejet
year's appropriations will be available.
There has been lack of snow end rains
in many sections, it-Is stated,, and this
threatens a season of early fires, mak
ipg it urgently necessary to provide the
additional money. , . '
all three periods of cumparlnon.' -
Payments are not as good us the week
before or the same weel of 1'JlU, but aro
better than the corrcfpondliitf week of,
lat year. , ;
700-Pound Bear Is ..
Trapped in Seaside
Seaside. Or.. April 27. William Sear
trapped a 700-pound black'besr Tuesday
night nVkr the home of William Kalvon x
in the east art of the city. '
Debaters S el e c t e d
To Meet Washington
Team Next Friday
Oregon Agricultural . College, Corval
lis, April 27. Paul Kmmett. Portland;
Krnest Abbott. Ashland; Lieb Riggs,
Corvallis, and Albert Wallach, Fenton,
Mo., will represent the college In inter
collegiate debate againBt the University
of Washington Friday evening, Wallach
and Riggs will go to Seattle to meet
the "Sun podgers." -
President W. J. Kerr will preside at
the local contest and will award medals
won by men of last year's, varsity debat
ing teams. " This year's teams will be
the first to receive the new sweater and
emblem. i . ' ' ',''.
' Joe W. Tibbetts of .Portland has been
elected president of Zeta chapter of
Sigma Tau, national honorary engineer
ing fraternity. . Dewey B. Larson, Port
land, is vice president Linus I'auling,
Portland, secretary; Ton It Johnson.
Woodburn, treasurer ; Walter 1. Olson,
Portland, corresponding secretary ; Otto
B. Packard of Santa Ana, Cal., historian.
Hermogenn; B. Carbonell of the Phil
ippine islands, has been elected presi
dent of the college Filipino club; Ceoilio
Areola, , vice president ; Ca 1 1 x t r o
Gragasin, secretary; Gaslmero Obra,
treasurer ; Arcadio Arciaga, manager,
and' Kuloglo . Antonio, sergpa'nt-at-arms.
Purchases Decline
And Debts Grow in
Business of Week
New York. April 27. The credit clear
ing house weekly , report of merchandis
ing activities by wholesalers and manu
facturers for the week ending April 22,
Miows a general decline in purchaweB and
payments and an increasing lpdebte.diiea.
In the Pjacific coast seclion.-purchasea
show- less, activity than the previous
week as well as the corresponding weeks
of the past two years. :
Indebtedness .shows an Increase over
City of
Portland
10-year 6 Bonds
At tot fo yield about S.80
We specialise in
Liberty and Victory Bonds
See us before you buy or sell.
FnCEMAN,
rTTal l krsvSX.
&mW SMITH
idaWBsgtSvajnO Mis
ir
Legal Investment !
For Oregon Savings Banks v
General Obligation- 6 Gold Bonds
BANDON, OREGON
Den. $500 ' Dated May 1, 1921. Due 1926-41
PRICES TO YIELD dQ0
Income Tax Exempt xTT) Q.
Bandorr, tbe tradins: center for a rich dairying and lumbering region
has a net bonded debt of only 40,300. These bonds are for the
installation of hydro-electric plant which it is estimated will yield
a net annual profit of 10,000. v
Complete information in circular :
LUMBEKMENS
TKUST COllEAliY
BROADWAY and OAK
av-astilavSa. U
IB
TEXT BOOK
OF
WALL STREET
A 40-race book (copyrighted)
discussing clearly and unmis
takably rules governing stock
market transactions:
. Methods of Trading,
Commission Rates.
How to Open an Account.
Augmenting One's Income.
Deposit Requirements for
Carrying Stocks "on ,Ac-
count.
Dictionary of ' Wall Street.
History of the New York
Stock Exchange.
History of the New York
Curb Market.
Foreign Exchange.
And. many ether subjects of'
, . interest to investors and
stock traders.
. Copy Kron IT port Kcriur-ft
McCALL & RILEY CO., INC.
20 Broad Street New York
T9
fS
rzr
Coneasrv alive '
Cuatdirv.
IMili
FOURTH A. WASHINGTON 8TS.
Conservative
Custodian r
CHnato
Savinc money is as -easy
as spending it
and when you save
it you have the
money to spend later.
asjBPMSM avaaya
raacaAi, aasaavvV
sssaav s t (jsae
$29,000
Kelso, Wash.
v.. 1 IMPOVtMKJtT BONDS
BaUrl
Feb. 1, Itll
Tn
Feb. 1, im
KstlmaterJ maturities to 1381
Prlret Par and
Interest to Yield
7
WESTERN BOND &
MORTGAGE CO.
Main IIS 80 Fourth St.
Board of Trade Bnlldlno;
(jiround Floor ,
Kico for IToww ? !
-but a vase is
ralhof msoaao I
for KixntnP- I
in a Safir
tK?pot Cox! ;
and concrete si i
k II c , I
Ir. A.
tAe United Statcis
National JJanle
!
Jtxtlj n rul Sta rk S t rc ots.