10
THE OREGON DAILY JOURNAL, PORTLAND OREGON
THURSDAY. APRIL 23. 1C21.
STUDEBAKER IS SHOWING RESULT OF LIBERAL STOCK SALES
1
ABOR TURNING OUT
MOR
E PRODUCTS
Chicago.' April ?. The Interesting
report in made her that a. consid
erable percentage of unemployment
today as compared with a year ago
Is due to the fact that workers with
Jobs are turning out far more In the
way of products than at any time
during the war period. ;
8ome employers are figuring: that two
omn are now doing the work of three.
If. has be ii said by one contractor that
bricklayers are today setting 2000 bricks
a day per man as against 1C0O a year
uteo.' In other words, the laborer in
employment just now is willing- to work
hard to hold the Job. for he knows there
Is someone else to take, his place if he
falters. In war time the situation was
reversed. The laborer , could limit his
daily output to suit himself, and the
employers were helpless becaupe of the
tremendous labor shortage and the de
mand for artisans.
Tax Lien Suits Filed v
Vancouver, Wash., April 28. Suits to
foreclose tax Hens against a large num
ber of Clarke county farms have been
filed in the superior court. Vancouver
und Washouga! are included in the de
$230,000,000 N. P.
And GJ N. Issue of
Bonds Announced
The expected announcement of the
$230,000,000 Northern Pacific and Great
Northern la-year 6 per cent collateral
trust sold bonds is made today by the
underwriting syndicate, j j.
The purpose of the Issue Is to retire
Joint bonds 4 held -by ithe two roads
amounting to $215,227,000 Issued in 1901
to purchase the Chicago, Burlington tt
Quincy railroad. : j
The bonds are the direct and joint ob
ligation of the Northern Pacific and
Great Northern railroads, and have, as
collateral and additional security, 97 per
cent of the total issue of all the capital
stock of the Burlington System, which is
valued at approximately- $292,000,000,
and $66,000,000 of bonds of the Northern
Pacific and Great Northern companies, j
The purchaser" of the I new bonds may
convert, bond for bond, into Great North
ern 7s. due 1936, or into Northern Pacific
6s, due 2047. The new bonds are call
able on 75 days' notice at 103 14 and interest-
They are being offered at 96
and interest to yield 6.88. . j
This is the largest issue of railroad
bonds ever underwritten: in this country,
and. the largest piece of financing done
since the signing: of; the armistice.
The memWrs of the underwriting syndi
cate comprise practically all of the great
financial institutions inv the country.
The local financial institutions partici
pating in the loan are as follows: first
National bank, Ladd ' & ; Tilton bank.1
Lumbermen! Trust-: company. Freeman,
Smith & Camp Co., Robertson &. Swing,
Blyth-Witter Co., Carstens & Earles, E.
lu Devereaux Co. and Hall & Co.
Eight Companies
Form in Washington
Olympta, Wash. April 28J Articles of
incorporation ; were ' filed Tuesday by
eight companies with J. Grant Hlnkle,
secretary of state, as follows :;
Brownie Manufacttjring company of
Seattle, capital stock' $2000; Incorpora
tors, Hugh It. Chilberg, Harold Weeks,
Harold Cottle, Otto Oppernian and M.
Chilberg. .
Broadway Improvement company of
Seattle, capital stock $25,000; lncorpora
tors, Mae M. Young and C. A. D.-Young.
. Auto Tool and Shop Equipment com
pany of SeatUe, capital stock $1.0,000.
Marine Development company of Seat
tle, capital stock $70,000: incorporators,
Fred Redfern and Ivar Opdal.
Ingram Air-Lock Rim company of
"Walla Walla, capital stock 13,000,000 ;
incorporators, Arthur Cornwell, George
Drumheller, Everett J. Smith, Oscar
Ingram and F. B. Sharpstein.
Hechtman's Apparel shop of Spokane,
capital stock $20,000 ; incorporators, A.
Hechtman and Morris Weinstein.
Kelty-Mines company of SeatUe, cap
ital stock $1,700,000 ; incorporators Milo
Kelly, Robert Tobin, H. Larson, M. Ix
Tobln, T. D. Corlew G. Corlew and L.
F. Shaw.
Pacific Film Enterprises of Seattle,
capital ptock $10,000; incorporators,
Harold Bunney, Forrest Cornish,. Homer
Barbur, Walter Pickford and O. s B.
Joseph. .
PETROLEUM FORCED
TO A LOWER POINT
New , York, April 2S. I. N. S.) The
stock market closed strong today.. Prof it
taking caused a shading off in some is-
Lsues but other stocks rose to new high
figures for the day. Heading was most
active of the rails, selling up nearly 3
points to 73. Baldwin, in which business
was in large volume, rose over 2 points
to 90. Royal Dutch rose to 68. a
gain of 2. Studebaker, after selling
up to 92, reaeted to 90, a gain of
about four points. United States Steel
was steadily taken and finished at 83,
a gain of . .
Government bonds, '- unchanged ; rail
way and other bonds trregular.
Total sales, 887,800. shares ; bonds, $12,-808.000.
New York, April 28. (I. N. S.) Track
ing en the stock exchange was less ac
tive this morning, but the market was
generally steady.
V. S. Steel was unchanged at the opening at
83. Sinclair Oil declined V to 26 ; Mexican
Petroleum rase to 1 50 t4 . Reading ad t need
to 71 and Northern Pacific rona H to 73 hi.
V. 8. Rubber declined to 74 Vi. Bethlehem
B gained to 58 and Southern Pacific lot
to 74. . .
The marfcet -wan generally one of what tome
interests called directed morements. : A number
of issues in which there were pool activities made
substantial gains, while others were under bear
pressure and sustained material losses. Stude
baker attracted the most attention, because of
'It
$230,000,000
(Total Issue) - ';
Northern Pacific
- Great Northern
To mature July 1, 1936
Joint 15-Year 6V2 C onvertible Gold Bonds
! v (G. B. & Q. Collateral) 1 ,
To be dated July 1, 1921 Interest payable January 1 and July 1. .
' ; . . I. . .-';..;
Convertible at any time, at the option of the holder as more fully
described below, j into 6 Bonds of the JNorthern Pacific Railway
Company and I or, 7 Bonds of the Great Northern Railway Compafny
-'. ' i j : ' ' ! -:
Redeemable, at the option of the Companies, as a wjiole or in amounts of not less than $5,000,000, at 103 and accrued
interest at any time on 75 days' notice. Any Bonds called for redemption, in order to be converted, : must
be presented for conversion fifteen days before the redemption date. !
. . ! i - t . , . :
Coupon Bonds in denominations of $1,000, $500 and $100, with privilege of registration., as to principal, j Fully
registered' Bonds in denominations of $1,000 and authorized multiples thereof. Coupon and registered Bonds
t and the several denominations interchangeable..
THE FIRST NATIONAL BANK OF THE CITY OF NEW YORK, Trustee
Tlie following summarized description of these Joint 65 Convertible Bonds has been prepared for us by
Howard Elliott, Esq., Chairman of the Northern Pacific RaUway Company, and Louis W. Hill, Esq.,
Chairman of the Great Northern Railway Company, from their letter to us dated April 25, 1321:
Security The Joint 15-Yeari 6' 'Convertible;
Bonds are to be the direct and join
obligations of the Northern Pacific and of the Great
Northern Railway Companies, and are to be secured
by a pledge of 1,658,674 shares (approximately 97j
of the outstanding stock) of. the Chicago, Burling-)
ton and Quincy Railroad Company (which percent-j
age of stock has heretofore constituted the sole col-j
lateral security for the maturing "Burlington Joint
Is"), and in addition by $66,000,000 of-mortgage!
bonds of the two obligor Companies, the deposited
collateral being valued at an amount in excess of
120 of the principal amount of Joint 6 Bonds
to be -issued. I
' ' - '
Conversion The Joint 6'J3onds may be con-Privileges-
verted, par for par, without charge,
at the option of the holder at any
time (upon presentation not later than fifteen days
before maturity or earlier redemption) into 6 Re
funding and' Improvement Mortgage Bonds (Series
B) of the Northern Pacific Railway Co., due 2047
(callable after 15 years at the Company's option
at 110 and accrued interest),! or into 7 Fifteen
Year General Mortgage Bonds (Series A) of the
Great Northern Railway. 'Company, due 1936 (with
no option of prior redemption) or into bonds of both
issues in any ratio between the two which the holder
of the Joint 6$ Bonds may desire, but not more
than $115,000,000' of either of such mortgage bonds
w ill be issuable upon such conversion. .
Legality
tor Savings Banks
and Life Insurance).
Companies
Such Northern! Pacific Bonds are,
in the opinion of counsel, a' legal in
vestment for savings banks and trust;
funds inJS'ew York, Massachusetts
Connecticut and Vermont. Both such Northern Pa
cific Bonds' and such Great Northern Bonds are, in
the opinion of counsel, a legal investment for life
insurance companies in the state of New York.
Earnings During the ten and one-half years from
1911 to 1920 inclusive, the combined -av-
erage surplus income of the Northern Pacific and
Great Northern Railway Companies, after payment
of combined fjxed charges, other than the interest
on the outstanding joint bonds which are to be re
funded by the new issue, was about $44,000,000
annually, and, in addition, the share of the two
roads in the surplus income of the Chicago, Bur
lington and Quincy fRailroad Company, after pay
ment of its fixed charges, averaged about $20,960,000
annually, .the total annual average being about
$64,960,000, as compared with $14,950,000 which will
be required annually for interest on the new issue
of Joint 61 Bonds. . .
Equity Since Juby 1, 1901, the Chicago, Burling
; i . ton and Quincy Railroad alone has in
creased its surplus in the amount of approximately
$200,000,000 against which no. securities prior to the
stock have been issued. The combined net assets
of the Northern Pacific and of the Great Northern,
after deducting their prior debts, together with 97
of the net assets of the Chicago, Burlington and
Quincy Railroad, after deducting its debt, indicate
an equity at book value, for these properties of close
to $1,100,000,000. i . ) :
The above! bonds are offered, subject to issue as planned, for subscription
I at 96 and interest, to yield approximately 6
tuTdZu ol vZ;7 1,1 -VSo? , H rr snnum on th. Principal sum of the Bonds from
tus Osts ol psjrsrent to July a. 1921, from which Utter dsts interest mill seerue oo the Bonds.
Subscription books will be openedat the office of J. P J Morgan. & Co., at 10 o'clock A M ; Thursday' Anril ?8 4921 The
right is reserved to re ect any and all applications, and also in any case to award a 5mill,r',mn, t th,JVr3A 4, Vl
amount due on allotments will be payable at the office of J. P. Mofc'JeV?
Northern Pacific-Great Northern, C. B & QjCollateral 4 Joint Bonds; due July J, 1921, with
final coupon attached, will be accepted in payment at 100 and accrued interest to date of pay.
mmnt on allotments 'r .'
- . I , i . - i
Temporary Bonds, exchangeable for definitive Bonds when prepared and received, will be deliver .upon payment.
First National Bank, New York ' "'
i : The National City Company
Guaranty Company of New York -
I j Harris Trust & Savings Bank
First National Bank, Portland Lumbermens Trust Company
, J. P. Morgan & Co.
Bankers Trust Company
. Ladd & Tilton Bank
tbo pensisteBt buyint' Before the end of the
first boor the uric morcd .up over 2 points to
89. Uenersl Asphslt msda s farther sdTsneo
of oer 1 point to 72. Bsldwin wu toe-
most setivs of the Steel indastrisls. sdrsm-ins
1 to 89, followed by a, reaction to 88 4.
At the end of the first hoar Uexicsa 1'e
troleuu was foreed down from 15 Hi to 148,
a tow record fpr this movement.
Furnished by Overbeck A. Cooks Co., Board
of Trade boildinc:
Sales. STOCK. High. ) low. Bid.
. . . . . Adrsaoe &om , , . . ..... . .... I 1 7 H
. . . do pfd. ....... ..... ..... 48 Is
..... A jsx Kabber . 33 H 35 35
- 290 Alaska Uoid ..... 1 1 1
200 Allis-fhsJmers .... 3714 7 37
200 Am. Beet Sugar... 38 K 38 37 H
200 Am. Bosch ...... 58 67 hi 58
2800 Am. Can Co...... 31 S 30 80S
..... do nfd. 82 V4
BOO Am. Car Fdy... 128 i 125 126
. .... do pfd. . ; 110
700 Am. t ot. Oil 21 K" 20 20
100 An. Iruz Synd... : hi
8400 Allied Chem. 44 T4 42 hi 44
Am. Hide & Leaia. 9
..... do" pfd. ' 44
3)0 Am. Ice 6 57 57
35O0 Am. Intl. Corp. .. . 44 44 4
Am. I.irufed ' 4
do pfd 78
5400 Am. Loco. ...... 88 8 ' ST
do pfd. . . 104
1000 Am. Saf. Kasor. , . 6 541 M.
800 Am. Ship . Com.. H 9
l-'OO Am. Smelter 42 "42 43
1O0 do pfd. ....... 78 77 78
500 Am. Hteel iMy. . . . 30 30 80
2300 Am. Sugar ....... 88 87
do pfd t 102
1900 Am. Sumatra 71 70 70
3900 Am. Tei & Tel...I0T 107 107
2000 Am. Tobacco 1421 11 121
1500 do "B" Ul 11 110-
15600 Am. Wool " 7 764 79
..... do pfd. . . T. J
..... do P pfd . 33
100Am. Zinc 9
8400Ariaconda 41 40 40
lOOIAsad. Oil 101 ;101 101
170OAtchison -rv 8 1 4 81 81
200 do pfd. 75 75 75
14800iAt, Gulf & W.I. 3 38 88
11600 Baldwin loco. ... 90 88 89
.... . do pfd. . 10O
11200Baltimore k Ohio. 38 35 3S
600 do pfd 49 48 48
SjOOjBeth. Steel 8.. 103
8200 do "B" 5 . 58 5
B. R. T '. 12
50OjButt C. & Z B 5 5
BOOjButte & Superior.. 13 1 13
100 Caddo Oil 17 17 17
.... i California Packing- . 58
700 California Pet. . . 45 45 45
100 do pfd. 75
Canadian Pacific .. 111 110 111
1700 Central Leather, 35 34 84
Cerro Do Pasco.. . 29 28 28
2000 Chandler Motor . . 84 82 83
200 Chicago & N. W.. 63 62 63
..... Chicago Gt. W 7
200 do pfd. .-, 17 17 17
2000 Chile Cop. ...... 11 11 11
1200 Chino 24 24 24
2000 C. M. St. P 2 25 25
2400 do pfd. 41 39 40
2900 Coco Cola 30 30 30
1500 C. & O . . .". i 61 60 1
Colo. F. A. I. 80
Colo. Southern 85
500 Col. Gas & Elec. 61 61 61
500 Columbia Graph... 8 8 8
. . . . r Con Gas 88
500 Cons. Cigars 41 41 41
do pfd. . 67
jContl Can ...... 56 54 56
400tContl. Candy .... 1 1 1
1800 Com Prod. 74 73 73
. . . :. do pfd. 102
ISOOCosden Oil 41 40 41 .
330OC. It. I. 4 P 27 26 27
lOOr do "A" pfd 72 72 72
300) do "B" pfd 62 62 61
12S,00Crucitie 82 80 81
I do pfd. 84
2400iCuba Cane 18 18' 18
800 do pfd. 59 58 67
2200iCnban inn Sugar. 22 hi 22 22
Del. & Hudson 05
300!Domo Mines ..... 20 19 19
lOOjD. 4R.G
BOO) do pfd. ... 1 1 1
700Endicott Johnson.. 62 62 62
180OErie 13 13 13
15001 do 1st pfd 19 18 19
600( do 2d pfd 13 13 13
OSOOiFamons Players .. 81 79 80
Fed. M. it Smelt 9
do Pfd 24
1600Fisk Tire 15 7s 15 15
SOO Carton Wmi 1 1 1
Gen. Cigars 58
r. 00 Gen. Elec 137 136 136
6900 Gen. Motor 13 13 13
do 6 per cent ,. ... 68
..... Goodyear . . . . J 10
S200 Gen. Asphalt . , 74 71 72
1000 Goodrich ....I... 37 37 87
600 Granby i... 21 21 21
100 Gt. North. Ore,. .30 30 30
. 200 do pfd 71 70 71
200 Greene Cananea ... 25 2S 25
400 Gulf 8. Steel 36 35 36
500 Hupp: Motors .... . 14 14 14
eOOIHouston Oil 80 79 79
1001111s. Cent 90
SOOj Inspiration 35 35 35
lOOilnt. Agr. Corp., c . . . . 9
100 do pfd 41
200Interboro 9
900) do pfd. ....... 13 12 12
600 Interstate Callahan.. 5 5 5
2000 Int. Harr 91 81 91
400 Int.- Mere. Marine. 14 14 14
500 do pfd. 54 53 63
1300 Int. Nickel ltl 15 15
19200 Int. Raper 64 59 62
do pfd 94
3200 Invincible Oil . 20 19 19
3600 Island Oil 4 4 4
. . . . . Jewel Tea ..... 8
2700 K. C. Southern 27 26 26
1 00 do pfd 50
8700 Kelly-SpeHd 44 42 43
1 800 Kennecott 20 20 20
5200 Keystone Tire 15 15, 15
lOOOILack. 9teel 52 52 52
10 With Safety
Invest Where You Can
Combine Safety With
High Earning
This well-known concern
is in the very best of
financial condition and
has never in its history
paid less than 10.
J. LHartman Co., Inc.
Investment Securities
7 Cham, of Commerce Bldg.
Main 208
For detailed Information mall
this coupon to J. L. Hartman
Company, Portland, Oregon.
Name
Address
Phone
HERRIN & RHODES, Inc
(Established 1896)
BROKERS
UEKBEBS CHICAGrf BOA&
XBASE.
Com8TM)Bf.Bts. E. F. HTJTTOX A CO.
Members vr .York Stock Exebaace.
Private Leased "W Ires Direct to All
J becarltr and Commodity Markets.
LIBERTY AND VICTORY BONDS
BOUGHT A3tt 80LD
MAIN t8S aad 84.
. C91-t HALLWAY Ei.CH. BLDO.
Stocks, fioada, Cottoa, Oral a. Etc.
Sit - S17 Board Qt Trad 7iailmg
Oyerbeck&CookeCoo
DIRECT PRIVATE WIRES
TO ALL EXCHANGES
tfemben Chiearo Board of Trad
Correspoadcati of Loraa A Bryaa
CAtcan ' Sew Iwk
Kales. ) STOCK. t High. Low. Bid.
lOOLee Tire t. . . . . 27
7A0 Ihigh Vslle ... 49 49 49
,200 LorUiard .. .. 151 (150 11,49
. . . . Maxwell Motnr . , . . . . , I . . . . .j S
100 do 1st pfd. .... 7 f T 7
682O0Mex. PeL .161 147 149
1500 Miami .......... 23 23 23
7900 Middle States Oil . . 15 14 14
700 MidTale tveeel . 29 2H 28
200 M. K. I....... 2 2 2
700 Mft Psc. ,. 18 18 1
.2000 do yfd , 88 87 87
1100Mont..Wart 21 .30.....
900M. St. P. 8. S. M 69 68 69
: 800M.. A. St. L. . . . . . 10 10 lO
20OINat. Knamal .... 61 60 61
(Nat. Lead ....... ..... ..... 77
600 'Nevada I'on. ..... 12 12 11
600New Haven ..... 17 17 17
800jNorfolk A W,..: 95 94 94
68001Nor. Pae. 74 72 73
Nova Scotia Steel. 35
(S. . Air Brake. . ( 78
1500N.T. Central .... 69 6 69
700 Okla. Prod, ref . . . . . 3 3 3
OnUrio Silver 12
500 Ontario A W'..... 17 17 17
.....Oris Steel ....... . . 12
02OO Pacific Oil ST 37 87
: 70O Pac. lias Elec.. 5H 49 4 9
7.-0 Pan Am. Pet. 72 70 71
800 Pan. Am. Pet. "B". 65 64 64
910O Penna. . ..j,..,. 84 83 84
100 Peo. Gas t47 47 47
Pere Marquette. . 4 . , . .-, ..... 18
5 OO Philadelphia Co. . .'. 31 31 81
800 Pure .Oil 35 85 '35
llSOOiPieree Arrow .... 3& 38 34
00lPierc Oil ....... U 10 10
C800Pitts. Coal . ..... 68 81 1
6O01PIUS. A West Va'. . 28 ; 26 27
loo'Prtts. 4fc W. Vs. pfd. .....
200Prred Steel Car..' 87; 8 8B
15O0PuUman ........ 105 104 104
Kay Oons. ....(... . 13 13 13
88 00 Reading . . 78 70 72
1200 Reploeie Steel 31
2400 lienubQc I. A H. . 64 63 63
..... do pfd. , . 1)1
..... Rep. Motors . . . . 1 8
2400 Koysl lurtr-OiK . . 09: 66 H8
300 Ky. Steel Hips: 88
8. O. Ind 73
8400 Sears Roebuck. 87 83 88
..... KhsUuck, An. 5
500 KheinT. & T 146 45 46
1500 Sinfltir ' 27 26 26
. 8 loss Sheffield 42
640O Sou. PariKc ..... 75 74 75
1 500 Sou. Railway 21 21 21
200 do pfd. ....... 65 65 65
300 St. L. it S. V . 22 21 21
3800 Stromberg Carb. .. 42 89 41
14700 Studebaker . ..... 92 86' 91
. .7". . Swift it Co ..... ..... 100
' 1200 Tenn. Cop. it Chem. 10 10 10
6500 Tei as Oil 43 42 42
1 SOO Texas Pacific ... . 21 20 20
lSOOTest. Pac. C. A O. . 29 28 28
4 100 Tob. Products .... 64 63 53
3800 Trsn. Contl. Oil... 11 11 11
6 Union Oil DeL . . . . 22 21 21
1600 I'nion Pacific .... 116 115 116
200jL'rdted Alloy ..... 81 31 31
J20O-Cnited lung- ..... 99 96 06
60011-nited lood Prod... 20 20 20
6100)lTnitd Fmit ..... 111 108 110
43O0United Retail Stores 64 63 63
2600IL. 8. Ind. Alcohol. 69 68 6
2500IU. S.- Rubber 75 73 75
400 do. 1st pfd 10P 101 1101
200f. 8. Smelting .... 32 32 33
2000011. S. Steel ....... 83 82 88
! OOO do pfd. 110 110 110
20Oelt:tah Copper . 63 5.1 53
t 200iVa. Chein. 80 29 29
6900Vanadium Steel ... 34 33 34
600 Virandou 6 6 6
800 Wsbssh 7 7 7
500 do A pfd 20 20 20
do B pfd 13
600 Wells Fargo ...... 65 64 .62
; 700 Western Pac 26 25 26
20 do pfd. ... 65 65 5
1 Ort Western I'nion 10
30O Wes'ghou&e E. A U. -8 t 47 47
2000Wei Md 9 9.
OOOjW-hit Motors 41 41 40
3900 WUls-Overland .... 8 8 8
300 do pfd 37 36 34
1 00 Wilson Packing ..... 42
100 Wisconsin Central .. . . 82
200 Woolworth 116 116 116
lOOOiWorthington Pump. 49 48 49
300, W. it fc. K.. 9 I 8( 8
SHORT TKKM IOTES
Quotations furnished by Clark, altndail . .V
vo.. inc.;
Security. . Vsturlty.
Am. Cot, Oil 6s..... 9 2-24
Am. T. 4 T. 6s.... 10-1-22
Am. T A T. 6s.... 2-t-24
Am. Thread 6s ...... 12-1-28
Am. Tobarco 7s 11-1-21
Am. Tobacco 7i. ... 1 1-1-23 ,
Am. Tobacco 7a. . . . 1 lrl-a
Anglo Am. Oil .7 s. 4-1-25
Armour Con v. 7. . ,7-16-80
Belgian Gov. 7... 6-1-45
Belgian Gov. . ... 1-1-25
Beth. Stel 7s. ..... 7-1 6-22
.7-15-23
.11-1-21
.11-1-23
. 8-1-21
. 8-1-29
.7-15-23
. 9-1-21
.7-10 25
. 2-1 -SO
. 9-1-21
. 9-1-23
. 9-1-28
. 9-1-24
. 6-1-23
.8-15-21
.12-1-23
Beth. Steel 7s.
British iov. 6 s. . .
British tiov. 6 Ha...
Canadian ov. 6s.
Canadian Uov. 6s.
Cedahy Pack. 7s; . .
Inter. R. T. 7s. . . .
Japanese Cor. 4 s.
Kennecott Cop. 7s...
slohns Plow 7s. . . .
Plow 7s. . . .
Plow 7s....
Plofv, 7s. . . .
Gu 7s
6k
Molin.
Molina
Molina
Pacific
Swift
V. . Rubber 7s. .
. Bid.
89 '.
97
91
95
100"
10
lOU
96
97
97
90
99
97
1)9
95
99
92
: 98
74
82
91
98
93
90
88
93
99
98
Axked.
90
97
96
97
100
100
100
06
97
97
91
99
98
99
95
-99
92
99
75
82
91
96 -99
98
of. 100 units fore is a
on bank trsnssctiona:
FOREIGW EXCHANGE RATES "
Corrected dsily by th. foreign exchange d
partmeat of th. United States National bank,
uuotations beiow. except th. douikU sterlint.
are quriea on xne ' ossis
Opening nominal rates
currency.
' nraft
London- Checks.
Lbs. sterling. 3.94
7.54
1.56
4.86
Paris Prsncs .
Berlin Marks.
fienoar-Lire. .
Athens
iirachmas.' . .
Copenhagen 1
Kroner
Christisnia
Kroner .
Stfx-khotm
Kroner .
Hongkong
-Currency ..I
Japan Yea . .
Hinrrehsi
Taels .xrTT?;
Cable
Tranifera.
t 3 95
... 7.55
1.56
4.83
6 13.
18.00
15.60 .
22.00 !
50.80
48.50
67.00
6.20
.18.05
'15.63
H2.93
51.0.1
48.73
61.50
Par ,
Vslirn.
8 4.866
19.03
23.81
19.30.
10.80
26.70
26.70
26.70
Daylight Saving to
Get Adverse Keport
Washing-ton. April 28.iL N. S.) The
house interstate commerce committee
voted today not to report favorably the
pending daylight savings bill.
Eorela Bead Market
trurnished by Overbeck A
v'rench
French
Italian
BritMh
Britwh
Rmbt 5 s 1921
RusKian A:1926
Kuauan 6 s 1019
trench hi 1931..
4s lOU. ..
6s 1920..
6s 1918..
8 1922. ..
6s 1927..
British 6s 1929...
British vky 4s.,..
Britkh rrf 4s
Belgium rest 5s...
Belsinm ' prvm 6s.
liermtn W. L. 6s.
Berlin 4s
Ksmhurg 4s . . . .
Hamburg 4 i . . .
Iilpig 4 s ....
Ilpta 6s . .j . . .
Munich 4s ......
Munich 6s ......
Krsnkfnrt 4l . . . .
Jap. 4s .
Jsp. It 4 a . . .
Jap 2(1 4 S
Paris- 5
V. K. 5 a, 1921 .
C. K. -5HS 1922.
ti K. 6s 1929.
If. K. 6s 11(37.
' a
1 ft
1
a
A
a
9
Coo. Co )
BM."
16 18
9 !
17 M
61 62
46 47
70 71
8T 88
802 404
875 817 .
379 89 1
800 814
-276 26
:
.68 7
11 1 2
1 2 1 i! V
14 14
14 14
18 15
14 16
13 14
I 4 17
14 I"
66 67
82
8. 8.1
97 9
HO 99
95 95
88 8(1 '
85 85
Xew York Hond Markft
it
Furnished by Overbeck
of Trade building:
AtotiiM.n tirnl. 4 ......
Hal. it Ohio Gold 4s .. .
Beth. Steel Ref, 6s
Cent. Psc. 1st 4s
C. B. A Q. Col. 4s
St, Paul Genl. 4 ss .. ..
Chicago N-W. Cienl. 4s ..
L. at N. Uni. 4s .. .....
New 'York Ry. 5s
Northern I'sc. P. L 4 ,
Reading .fi.nl. 4 ......
I'nion sc 1st 4s .. ...
I'. 8. Stel 6s
Southern Iac. Onnv. 5a.
Southern lac. t'onv. 4s..
I'nion Pac. lt Kef
Penn. Conv. 4s .....
fenn. 1st 4a
1'hes.' 4 Ohio Cent, 5s ..
Oregon Short Line
. . .
. . .
9
t
....
Cook. Co.
Bi't
. 7n
. 66
. 82
. 72
,. -!)
. . 64
,. 74
81
20
74
78
79
95
H
79
7 5
86
76
82
79
Board
A'kert.
76
' 67
82
72
lit!)
4
76 .
81
24
7!
77 Vi
80
6
91
79
A 5
86
, 77
83
80
Bank of England
Rate Is Reduced
'LoavdOB, April t8(K- K. K.) Tb.
dlsoooat rate ol the Baak of Kng-Uad
waa red red todav to Vs per real.
PACIFIC COAST BAJtK tsTATEMBITT
Portland Banks
This, Week.
Monday ....$ 5.270. 924. S2
Tuesday .... 6.238.627.02
Wednesday... 4.544.553.80
Tbunday. ... 4,878.775.71
Tear Ago.
$ 6.426,238.20
5.510.168.31
5.036,408.49
4.727.974.90
' ' Taooma Banks
riearings Thursday . . ....... 8 - 624.387.00
Balances. Thursday ......... 183.682.00
SeatUe, Banks
Clearings a Thursday 8 3.897,630.00
Balances Tburadsy 1,035,180.00
an Francisco sanai
Clearings Thursday 1 17.500.000.00
- Los Angels Banks
Clearings Thursday 811.903,611.00
The character and security
of these bonds are such
that they are
ELIGIBLE TO SECURE STATE
AND COUNTY BANK DEPOSITS
General Obligation
6 Gold Bonds
' s
CITY OF
Bandon, Ore.
Due 1926-4T
Prices to
yield
(525
INCOME TAX
EXsEMPT
, BROADWAY AND OAK
We Offer
City of Portland
Oregon Improvement
6 Bonds
Dated March 1, 1921
Price: 101 and Interest
These bonds arc in $1000 and
300 denominations.
Owing to the large demand for
'these bonds we suggest that
"you place your order early.
Oldest mf he
Northwest
WASHINGTOTJ
V
Due March 1, 1931 Jmj
t a h a
II
JJ : ! '
r
Is This
aTimetoBuy
Bonds?
We believe that it Is. The
present pericxj of readjustment-
affords the. investor
an. opportunity to secure, at
unusually low price levels.
sound bonds of all types
yielding from
3tocS
We shall- be glad to offer
recommendations . and the
facilities of this organiza
tion are at your disposal.
G.E.MILLER
tx COMPANY
BONDS
GOVERNMENT
MUNICIPAL
COQPORAnON
TftlPHONC MAIN 4I)5
i04 5-6 Northwestrrril3rtK Building
PORTLAND, OREGON
SCHOOL. BONOS
-'
Utah County Utah Alpine School Dist.
Not the EzceptionsJ Security 1 '
I
Actual valuation . . . . , . . . $35,000,000 . Y
Assessed valuation. ...... . 18,222,300 I p.
Total bonded debt. ..... , .1 608,000 E
Population, 23,517 L (fy.OA
Due (without option) 1922-41 D fVO'
1 . -
Utah school bonds have an especially wide market. This district
lies near Saft Lake City, within one of the most productive farming
areas of the Inter-Mountain Region.
r.i.na KEELER BROTHERS
. Investment Securities
J U. S. NATIONAL. BANK BUILDING
; Broadway 5800
OoOOO
Unsold Portion Our Own Issue, to Yield 8
This issue securedby $17.5,000. first mortgages on high
grade irrigated farms assigned to and held by Portland
Trust Co. . There are 95 individual mortgages guaran
teeing the safety of principal and certainty of interest.
Conservative loans. Bank recommendations.
Legal investments for savings banks and trust funds.
Exempt as to 2 per cent normal income tax. .These bond
are ready for delivery at Portland Trust Co. Denomina
tions $100, $500, $1000. Maturities 2, 3, 4. years.
ASK US FOR CIRCULAR
Southern Idaho Land & Power Co.
- Portland Office 1212 Gasco Building
-Ml