ECONOMY PLEDGE
DRAFT FILED WITH
COUNCIL BY mAYOR
Mayor Baker has filed for eonsld
eratiort by the city council, and Its
probable adoption aa a measure de
fining its policy, a communication
covering the proposal that the city
government shall pledge itself to no
increase lrt taxation for the next
three ycars. The ' communication
says: , X- ' ' ' ' -
The council of the city of Portland Is
In receipt of copies of resolution adopt
ed by the Tortland Realty board urging
'that the council,. -In common with the
other tax levying bodies of Multnomah
county.) agree that no Increase In taxa
tion shall be 'levied during the ensuing
three yearn.
These resolutions find the members
of the eity council In a receptive mood,
and the members will unanimously sup
' port such a program provided it has the
real sanction of the public, which, after
ail, W tne controlling iactor in me mat
ter of taxation. -The organizations for
mulating this plan cannot rest on the as
sumption that by resolving to the city
council they have done their full duty
and there is nothing further for them
fo-do. It Is necessary that these or
ganizations now promote an intensive
public campaign for economy, because
it is the public demand for improve
ments, betterments and increased serv
ice that causes tax increases. Members
TKANSPOnTATIOJt
2? LINE '
KewYora Cherbourg Hontnamsto j
OLYMPIC ...... May 14 June 4 Jane 25
ADRIATIC June 1 July 6 Aug. 8
Kew Tors Liverpool
CEDRKJ ....T.. .May 14 June 11 July
CELTIC ........ .M.J 28 J una 25 July 23
T.-Bototi-Arrea-GIraltar.
- ' spies-Genoa .
CANOPIO .'. ..June 17
CKETIO ... i ........ . .July 12
Tblladelpnla Liverpool
EUTKRtXfKD ....May 28 July 2 Aug.
AMERICAN LINE-RED STAR LINE
IT. T Plyraostk, Cherbourg-, Antwero
K HOON LAN D May 14 June 18 July 23
FINLAND .. My21 June 25 July 80
EEELAND .....June 1 July 2 Aug. 8
LAPLAND ...... June 11 July 16 Aug. 20
s.-Y ..Hamburg (via CnartMurt after May 86)
MLNNKKAHDA . May 21 June 80 Aus. 14
MANCHURIA ....Jan. 2 July 14 Aug. 25
MONGOLIA .. Jan 16 July 28 Sep. 8
. WHITE STAR-DOMINION
Montreal Quebec Liverpool
V.ED10 May 14 June25 An. 9
MKOANTIO May 21 June 18 July IS
CANADA ..I.... Juno 4 July 2 July 80
International Mercantile Marine Co.
' fee essaevatlona end ticket apply to local
aoenta ee Company'. Office, O. P. SAROENT,
Manatee, 610 Second Ave., SmUI. Wash.
Psons Main 113,
J
ASTORIA AND WAV POINTS
STEAMER GEORGIANA
Bound trip Daily (Except Friday)
Leave Portland 7:10 A. M.. Alder St. Dock
Direct Connections for Seaside.
i wnnm sa.oo kaoh way.
Night Boat Daily (Except Sunday) T:S0
Direct Connections lot North Beach,
ifsia 1422: 641-23 Aldsi St Dock.
of the city council 'or other tax levying
bodies derive no pleasure from increas
ing taxes or keeping taxes, high, but
more generally do they permit these in
creases reluctantly: to satisfy public de
mand and clamorj The public Is, aner
all, running the city and the council and
the other governmental bodies are merely
the clearing house for the public.
FLAN IS hOC Ah .
The tax-levying bodies are asked by
the civic organisations to adopt the "no
Increase" program without regard to
what conditions might arise within the
next three years. It is well for them,
before going ahead with the plan, to ad
vise themselves of existing and"past and
prospective conditions which might nave
a vital bearing on the subject.
In the first place the curtailment pro
gram as proposed can only apply to a
part of the governmental agencies or a
part of the tax-levying bodies. The state
legislature at its recent session: fixed
the expenditures for state purposes for
the next two years at a figure far in ad
vance of the figures for the r last two
years. This cannot be undone. The leg
islature increased expenditures for state
departments about $1,000,000 a year and
even went so far as to make direct ap
propriations of about 364.000 more than
the state departments asked for In the
first place. It may be seen, therefore,
that curtailment nowiat-ked must apply
to oar local affairs as state taxes must
increase to meet the action of the leg
islature. 1 :
There has been clamor at tax-paying
time -for retrenchment and . curtailment,
but ft has been followed invariably by
public clamor forpublic improvements,
betterments, increased service, etc. The
two plans retrenchment and improve
mentcannot o erate at the same time.
We cannot spend an 3 still have. .
SERVICE COST GAINS
Kverybody knows that the last three
years have seen tremendous advances in
the cost of all things entering into serv
ice. Speaking now of municipal affairs,
the city has not kept pace with progress
because the general municipal service on
the basis of population and area is not
now what It was before the war. While
city government costs more now than it
did then, the increase has been due to
the abnormal conditions, and not to any
mad era of spending. As a matter of
fact, the city has been hampered in many
things for lack of funds.
In the. resolutions which I have read
stress Is laid on general development of
the city- and encouraging industry and
commerce by guaranteeing Investors that
they .are safe from any Increased taxa
tion. Upholding of a city and general
progress in industry, building and com
merce do not lend themselves to curtail
ment in municipal service. The munici
pality, with its various forms of com
munity service,! must keep pace with
progress, or that service becomes inade
quate, and " inadequate fire protection,
police protection, sanitary protection and
the . other protection and service fur
nished by the city idoes more to drive
away Industry ana progress than does the
prospect of a slight tax Increase. We
cannot grow as a city and retrench in
service. ' I -
INCREASE UNNECESSARY -
Personally I do not believe any in-i
crease in taxation for municipal expenses
will bet necessary in the next three -years.
The declining cost of things entering
Into, the cost of giving service probably
will take care of i necessary increased
service as the city! grows, but there is
no guarantee to this, and it is a question
whether the people of the city want to
say that regardless of what happens
here they stand against establishing any
public service additional to what we
have at this time. j '
Looking into the subject of local con
ditions! in some detail, it might be well
to note that federal statistics show that
in 19191 (the latest government statistics)
only one city i of i Portland s size or
larger 1 spent less for police protection,
and for fire protection Portland's per
capita i expenditure was under the aver
age of large cities, i Portland spent less
In 19191 for conservation of public health
than any other large city. Portland's
costs for garbage, disposal were ex
tremely low. while for park operation
and maintenance Portland was well un
der the average. ; . i -
- These things as applied to the various
branches of our' local service do not
Indicate extravagance or excess service.
1 nts being the i case, are we prepared
now to say that regardless of conditions
we Will pledge ourselves not to increase
I H.F.ALEXAMDER PnMdrt I t. v "
L 1 ' .
7. reygng
- - . NEW THROUGH !
Passenger and Freight Service to -i
SAN FRANCISCO, LOS ANGELES AND
.v SAN DIEGO 1
-yv- Sailing From Portland, 9 P. Ml '
SSrd- Evan. May 20 SS. Senator, May 27
owh.iuj Ttni ItLlllAX IHEKEAFTEB
Local Passenger and
r r eight Service
Between Portland and
MARSH FIELD, EUREKA.
SS FHA5CISCO
Sailing Every 12 Days.
Alaska Excursions
Between Seattle aau
SOUTHEASTERN POINTS
SOUTHWESTERN MNTS-?7
" Every ! Days
, Trans Pacific Services
Between Portland and Yokahama, Kobe, Sbangkal, Hong Kong. JMaalla.
Dairea and Vladivostok (FreigkbnlT)
SS. Coaxet, May 25
SS. Montague, June 19 SS. Abercos, July IS
Betweem Paget Sonnd and Tokoh.ma, Kobe, 8n.rhal, Hong Ko.a.
..a t . M" freight and Passengers) ' 9 '
CC llt Di7'' Vladivostok, Singapore Frelht Only)
SS. Wheat Mont., May 12 SS. Crosskeys, June 4
SS. Wenatchee, June 18 f
-Freight Only rwlfht And Passenger
- FQR FULL INFORMATION APPLY TO
101 Third Street Phone Main 8281
our service during the next three years?
Will this encourage investment, indus
tries and growth, or .will it cause some
of these investors to hesitate over the
matter of inadequate fire protection.
police protection, etcT J - - ? -
PUBLIC MUST AID -These
are some of the things : to be
considered in connection with the move
which the civic organizations have to
make to form public opinion and gain
publio support. To ask the council to
guarantee no increase in taxation for
three years means nothing unless sucb
a policy has ironclad public support.
Public oinciais una no pleasure in in
creasing taxes. Rather would they like
to make a showing for themselves by re
ducing taxes, out it cannot oe aone as
long as the public clamors for Improve
ments and betterments and increased
service, for the public and not the council
runs the city. And wnac applies 10 tne
city applies to other governmental
bodies. - - - - - ' -
Lt me ask that your organisation give
full study to existing and prospective
conditions so that all will know before
takine- final definite action lust what
such a move will mean. We do -not want
to tie our hands or make any promises
that we will , regret or that we cannot
carry out.
NEW CORPORATIONS
Salem, May 7. The Union Theatre
company or ... Portland, capitalized at
180,000. filed articles of incorporation
with the state corporation department
here Friday. The incorporators are M.
Pallay, Kugene Blazier and I. Leeser
Cohen:- 'j . ... t '
The Hall Manufacturing company of
Portland filed a certificate showtng an
increase in capitalization from $5000 to
150.000. . f
Olympia, Wash., May 7. Five com
panies with a total capitalization of
$662,000 have filed articles of incorpora
tion with J. Grant Hinkle. secretary of
state, as follows:
Bamhard's Vegetable "Beverage Man
ufacturing company of Nooksack j capi
tal stock, $500,000 ; incorporators. Her
man and C M. Barnhard. .
The Enterprise Foundry company of
Tacoma; capital stock. $10,000 ; incor
porators. George and Edith Bates. .
The Olympia Fir Lumber company of
Olympia ; capital stock. $40,000 ; incor
porators, Robin Adair, M. Lt. Sorber and
J. I. Benson.
Malheur Land company of Vancouver;
capital stock, $100,000; incorporators.
H. M. Cake, H. G. Gree and W. S.
Short. . . ' - - ; '
Wenatchee-Chewawa Irrigation com
pany of Wenatchee ; capital stock, $12,-
000 ; incorporators, F. E. Knapp, C. A.
Leedyy. F. W. Shultz and W. D. Shultz.
$TOCKMMa3T
Goodyear Tire to readjust tire prices.
Chicago Federal Reserve reduces re
discount rate from 7 to 6H. I
. Bradstreefs reviews constructive ac
tors during week on basis condition in
cluding reduction in rediscount t rates.
Steel wage reduction, stronger., market
for foreign exchange and vastly improved
railway earnings for March, latter taken
as sign that reestablished prices are how
beginning to be discounted.
Dun's reports 312 failures in United
States this week, 330 previous week and
133 year ago, while Bradstreefs places
total at 277 versus 351 last week and 113
in 1920.
SHORT TERM NOTES
(Quotations furnished by Clark, Kendall
Co., Inc.)
Security Maturity.
Am. Cot, Oil 6s ..... 9-2-24
Am. T. A T. 6s. ...10-1-22
Am. T. A T. !.... 2-1-24
Am. Thread 6s. i . . . 1 2-1-2
Am. Toh. 7s. ..... .11-1-21
Am. Tob. 7s 11-1-22
Anelo Am. Oil 7H. . 4-1-25
Armour Conr. 7a.;. , .7-15-30
Belgian I Jot. 7s ... 6-1-45
Belgian lior. 6s ..... 1-1-29
Beth. Steel 7s 7-15-23
British Got. 5s ...11-1-21
Britbh Got. 6 a.. .. 11-1-22
Canadian inr. Hi.. 5-1-21
Cudahy Packing
Inter K. T. 7s. . . . .
Japanese Got. i Hi.
Kennecott Cop. 7s. .
Lies. Myers Tob. 6s.
Molina Plow 7s.,.. .
Molina Plow 7s.. . .
Molina Plow 7s. . . .
Moline Plow 7s. . . .
Nor. Fac- Eq'p 7.
Swift 6a .
tT. S. Rubber 7s. . . .
7s.. 7-15-23
. ... 9-1-21
.7-10-25
. 2-1-30
.12-1-21
. s-1-21
. 0-1-22
. 9-1-23
. 9-1-24
. 5-5-25
.8-15-21
.12-1-23
Bid. I Asked
Hi) ' 90
74 974
8?4 9SU
95 97
99 lOOH
99 ; 100 H
100 ; 100 H
99 96 H
va.
95 4 ; 95 14
97 ; 98 "4
UUVi:
96 . i 97
09 99
77 " i 78" "
4 ; H4fc
92 . 94
98" III!
96 ....
94
92 ....
99 H 994
VH ' 98
FOREIOIT EXCHANGE RATES
Corrected daily by the foreign exchange de
partment or tns united states National bank.
Quotations below, except the pound sterlinc.
are Quoted on the basis of 100 units foreign
currency.
Opening nominal rate on bank trenaaettona
Draft Jahla Vmr
Checks. Transfera, Value.
3.97-4 S 3.98 $ 4.866
8.33
d 0 (s- (X) r
rnVelS, TSSjUthiM. Boston ahu
EASTB0U3TD , wr.Tnnrr.,.'
Fr"?, , From , From
, Portland. Ma Itis Boston Vhila
! 2 w'?.-: v-..May St Jane 1 Jane 7
sT YSf l8,, -J-ne 12 Jans 15 Jaae IS
" ... " iuiurmauon Apply to
1.1 Tfclrd Stree? 1-E. P.eUI. Coast Agejt.
, - .Pboae Slala 8?l
' ' Portland
S. H. Art Ira .....May 1
H. A. T,ahlah In. a
8- S. West Togas. Jaae it
MlSil
NOTICE of CHANGE of SCHEDULE
Night -Service, Str. Lurline and Madeline
Besrinnins Monday, May 9, 1921
WILL LEAVE PORTLAND, 7:30 P. M. I P
WILL LEAVE ASTORIA, 6:00 P. M. rPare $2
THE HARKINS TRANSPORTATION CO.
Foot Alder St. Phone Main 1422 ; 541.22
London
Lbs. sterling.
Paris France.
Berlin Marks.
Oenoa Lire. . .
Athens
Xrmchtnas .
Copenhagen .
Kroner. ...
Chris ti&nia
Kroner. . . . .
Stockholm-
Kroner. . . . .
Hongkong
Currency. ..
Japan Yen
1.52
6.00
6.05
18.10
1537
23.35
82.75
48. SO
Shanghai Taefc 68.50
8.36
1.52
5.10
6.10
18.15
15.42
2S.40
53.no
49.O0
70.00
19.03
23.81
19.30
19.30
19.30
26.79
26.70
JCew "York. May 7.L N. a) The
stock market closed Irregular today. The
market, showed an J Irregular ,- tone
throughout the last hour, rallies oc
curring in some issues on short cover
ing, while other stocks made new ; low
prices for the day in the last few min
utes. - i: :,: --T "
Steel, after selling up to 85, yielded
again to 854, and changes, in the other
steel Issues were equally small. Bald
win rallied nearly 1 pfcint to 91. The
motors were heavy, StudebaJcer falling
to a new low price of 86. Mexican Pe
troleum held arouno 153.
Government bonds undianged, railway
and other bonds steady.
Total sales today, 1 450,200. shares ;
bonds, $5,962,000. '
Total sales stocks for the week, 5,976.
600 shares; bonds, $67,954,000.
Price movements continued nixed at the
opening at the stock market today, the motors
being particularly weak, while the tobacco issues
were again in demand at adrancing prices.
Studebaker dropped Hi j to 87 H. Chandler
1 to 80 . Pierce Arrow 1 to 38. Ameri
can Tobacco sold ni 1 to 127 and United
Retail Stores and Tobacco Products made frac
tional improvements. Mexican Petroleum yielded
nearly 2 points to 153. Houston Oil. how
ever, rose orer 1 point to 85 and moderate
gains were made by Pan-American Petroleum
and Sinclair. I .
8teel common shaded off slightly to 85.
Other steel shares were fractionally lower. Gen
eral Asphalt fell over 1 point to 75 V. The
rails declined fractionally. '
Furnished by Orerbeck
of Trade building:-:
Cooke Co.. Board
Sales. STOCK. I High. Low. ( Bid.
200 Adams Express jj 45 43 44
. . Advance Bum. .. 17
..... Agr. Chem. J..... 46
400 Ajax Rubber. . 33 33 35
900 Alaska tiold ..... 4 4
..... Alaska Juneau . 1
700 Allis Chalmers ... 38 38 "4 38
200 Am. Beet Sugar.. 41 40 40
300 Am. Bosch .. 62 61 S 81
900 Am. Can Co. ..... 31 Sits 31Vk
200 Am. Car A Fdy.. 128 l-'7 14 127
... . . do pfd. . . . 110
200 Am. Cot. Oil..'.,. 21 i 21 20
..... Am. Drug. Synd... . .... ..... 6 "4
1800 Allied Chem. ..... 46H 45 46Vs
00 Am. Hide A Lea... 11 IIS IIS
900 do pfd. 53 62 62
..... Am. Ice 67
4200 Am. Intl. Corp... 52 51 52
700 Am. Linseed ..... 42 41 42
200 Am. Locomotive 90 90 90
. ! do pfd. 103
2200 Am. Safety Razor.., 7 7 7
300 Am. Ship A Com..1 10 10 10
700 Am. Smelter 42 41 42
. do pfd : . . 77
Am. Snuff .. ..103
400 Am. Steel Fdy . . . . 31 30 80
Am. Sugar , 90
Am. Sumatra 714
500 Am. T. A T 108 107 108
600 Am. Tobacco ....127 126 124
500 i do "B" . 124 124 124
270O Am. Wool ........ 80 79 79
200 Am. W. P., pfd. . . . 34 34 84
. . . . . Am. Zinc ... ..... 9
900 Anaconda . 42 41 41
. . i . . Ass'd Oil ... 102
700 Atchison 82 82 82
400 AU. Coast Line 82 81 81
900 AU. Gulf.- A W. I. 43 42 43
18800 Baldwin Loco. .... 91 90 91
400 Balto. A Ohio 41 40 41
2400 Beth. Steel "B". . . 64 63 64
200 B. R. T. 13 12 12 T
..... Butte C. A Z. . . 6
300 Butte A Sup. 15 14 14
400jCaddo Oil 17 17 17
lOOICalif. Packing ....61 61 61
5700Wabf. Pet. 48 46 47
..... do pfd 77
lSOOICartadian Pac. ...114 115 115
1 600 Cent. Leather .... 38 38 88
700CerTa lie Pasco..; 30 29 30
140OChandler Motor ... 81 80 80
lOOjC. A N. W . . 67 66 66
600'hi, O. XV 8 8 8
IChi. ti. XV. pfd.... 19
1200Chili Cop 12 11 11
40;Chino 25 25 23
1300C. M. St. P. 28 28 28
1300C. M. St. P. pfd... 44 44 44
200 Coco Cola 29 29 29
500C. AO... 64 63 63
200Colo. F. A I...... 32 32 32
200Colo. Southern ... 38 37 37
500iCol. Oas A Elec. ..i 60 59 69
2400Co)umbia Graph. . . 8 8 8
lOOO Con. Gas ! 89 88 88
300Com. Cigars 40 40 40
.....ContU Can , 55
IConU. Candy 1
SOOiCorn Prod. ... 75 74 74
6500 Cosden Oil 37 35 85
400 C. H. I. AP 32 31 32
100 C.B.I. A P."A"pfd. 75 75 75
lOOjCR-I. A P.-B'pfd 65 65 65
l00Cracible . 85 84 84
..... ICrucible pfd. . . 85
SOOiCuba Cane . . 21 20 21
4400Cuban Am. Sugar. . 25 24 25
600Iel. A Hudson.... 100 99 101
400Iome Mines 19 18 18
200I. A H. U
200IO. A It. G. pfi ... 1 1 1
1200 Kndicott Johnson. . 67 67 66
700jKrie ...jl4 14 14
600 Krie 1st Pfd 22 21 21
I Famous Players. . 79
IFed. Ming. A Smelt. 7
I do pfd. 26
2800 Flsk Tire. I 18 17 18
4 OO Gaston Wms. 1 1 1
(Geo. Cigars I..... ..... 60
20O Gen. Klec. 188 137 137
10600 Gen. Motor j 13 12 13 ,
. Gen. Mot, 6 69
. Goodyear . . . . i ." 8
15200 Gen. Asphalt ..... I 76 73 76
600 Goodrich 41 40 40
Granby ;. 23
100 Gt. Nor. Ore .' 80 30 80
. do pfd. -. 72 72 72
' 200Greene-Cananea ... 24 24 24
ERRATIC TONE IN SHARES AT CLOSING
STUDEBAKER STOCK
IS A WEAK FEATURE
Salea. STOCK.
400Gulf 8. Steel..,,
Meii Wamtedo
Licensed Officers and Engineers
Also Men for Our
Merchant Marine
Efficient; marine men who stand by Shipping
Board vessels and those accepting employment
will be accorded every consideration in the future.
Wage Scale for 8000-Ton Steamer
Master $305
1st Officer .$195
2d Officer . ...$170
3d Officer . . . .$150
Carpenter. $85
'Boatswain ......$80
AU Seamen.. $72.50
Ordinary Sea-
....$52.50
Chief Engineer $285
let Asst. Eng-r . .$195
2d Aaat. Engr. .$170
3d Asst. Encr. :$150
, Deck Engineer. . . $85
Oiler $80
Watertender . . . f $80
Fireman .! $75
Wiper .........$65
Chief Steward. .$120
Chief Cook .
2d Cook I .
Cook's Mate
Meitman . . .
Mess Boy . .
..$100
. ..$80
...$65
...$70
... .$60
SEA SERVICE BUREAU
U. S. SHIPPING BOARD
Room 205 Concord Bldg., 2d and Stark Sts.
Portland
aoton . .
Houston Oil, . . .
Ilia. Cent. V.... ,
Insptratioa ......
Internoro . .......
1 1 OOt Interstate Callahan
400 Int. Harrester
2 00i Int. Mere. Marine.
700i : do pfd. ... . . .
OOOilnt. Nickel ......
6400 Int. Paper ......
SOOlblamt OU ......
28O0IInTincible OU . . .
Jewel Tea . .
fiOOIK. C. Sootlwra.. .
K :- 8 fc.-d.l. . I. . . . .1.
Kelly-Bpring 61) 60 SI
KennecoU . I Zl. 21 I zin
Keystone Tirel 16 116
Ijick Steel.'. - 53 S3 S3
Ie Tire . ,1 28 I z z
2000
1000
S500
300
100
4400
43
15
83
. . .
6
fi
15
57
16
64
4
4
28
Low. 1 Bid.
'41 "44 "
14 14
84 84
1
86 SS
....
S .5
05 5
15 15
5 S
16 16
64 64
4 4
4H 4
'27 27
. i0
Ivthich Val.
lOOIMaiwell Mo
100Maxwell 1 pf
. . Maxwell 2 p
21 600jMex let
4 00 1. Miami .
S7O0Mid 8ta Oil
00Mid Steel. .
600JM K V T . .
Mont Power.
6700;m Pae. . .
1 500 Mo Pae pfd!
lOOMot Ward
100 MSt PASSM
. . . . . M ic St I,.
, .... JJiat Enamel
lSOOiNat Lead. .
20O Nevada Con
154
5
7
155
155
23
,. 14
29
2
22
42
71
12
81
12
10
00
7
10O0New Haven
800 Norfolk VW
400 Nor lac . .
. . . Nora 8'a Stl
800 N T Air Bke 77
2001N T t'entralf 71
1U0U Ukla. 1'rod. ref..
Ontario Silver .,
Otis Steel .....
8100 Pacific Der
300 Pae. (iaa A. E . . .
2800 Pan. Am. Pet . .
ICOO do B pfd. . J, .
2700 Penn. , . . . . i . M . .
1000 Peo. Gaa
- 600 Pere Mamaette .
. . . . . Philadelphia Co. . .
200 Pare Oil
2500PtereB-Arrow ...
200Pierce Oil
1600Pitts. Coal . . ...
100 Pitta. 4b West Vs. ,
. . . . . Pressed Steel Car
160 Pullman ........
200 Ray Cons
1800 Reading
500 Remincton ......
.500 Replotie Steel . .
700 Republic' I. It 8.
....- do pfd.
..... Rep. Motors . . . . ,
700 Royal Dutch OU .
. Ry. Steel Sot. . .
. . . . . Haion Steel Sptr. .
1000 Sears Roebuck . .
400 Shattuck, Arig. .
300 Shell T. & T
1700 Sinclair
SOOKlos Shef.
2600.HonthTn Pacific.
2700 Southern Ry. . . .
2 OO j Southern liy. pfd.
ouuistromoers; Larb. . .
20700Studebaker ,....
ISwift it Co.
BOOiTenn. Cop. & Chem.
1800Texaa Oil .......
3000 Texas Pacific . . . .
6500Tex. Pae C. Sc. O.:
SOOjTob. Products
4000Tran. C'onU Oil..
1600Lnton Oil Iel
1200! Union Pacific.
.....ICnited Alloy ....
ICnited Unit . . . .
000 t'nited Food Prod.
100
200
300
1900
1800
3100
100
"8800
200
700
i300
'200
300
" 300
600
400
200
800
'6900
700
1000
United Fruit
United Kds. N. J . .
do pfd.
United Retail Store
V. 8. Ind. Alcoho
U. S. Bnbber
do pfd.
U. S. Smelting. . . .
U. S. Steel.
do pfd.
Utah Copper
Va. Chem.
Vanadium Steel . . .
Vivandou . . . . . . ,
Wabash
do A pfd. . i . . . .
do B pfd.
Wells-Farco .
Western Pac. . . . ,
Western Union . . .
Wesfh'se E, M.
West Md. .'
White Motors
Willys-Overland . . .
do pfd.
Wilson Packinc . . .
Wisconsin Central . .
Woolworth . . . . , ,
Worthincton Pump
W. at L. E ,
i.-.-l
28 28 .....
6 5 .....
7 5 .
153 148
158 158 .....
23 23 .....
14 14 .....
29 29
2 2f .....
( -53
21 22 .
41 41
22 22 . ,
71 71
12 12 .....
a a a . A3 a
78 80 .6...
12 12
18 18
98 98
75 95 .....
.... 1, 34 .... .
76 76 ....
71 71
I a 3 3
5
15 15 15
88 38 38
54 63 53
72 71 71
64 64 64
35 35 35
48 47 48
20 20 20
32 31 32
35 35 35
88 37 37
10 10 10
63 63 63
. . 29
88
jl02
14 14 14
76 75 76
86 35 36
32 32 32
65 64 65
91
; . 20
69 1 68 69
90
.... .1 90
84 84 83
6 6 8
48 48 48
28 27 .27
43 43 42
78 77 77
22 22 22
24 S4 24
43 43 43
68 86 86
i 100
9 9
41 41 41
24 . 23 23
30 29 1 29
f 54j-64 54
12 11 12
22 ( 22 22
120 120 120
. 31
...i.: 95
23 23 23
..... ..... 110
11 11 11
24 24 24
58 I 57 58
.72 71 71
77 76 77
101 101 101
33
85 85 85
109 109 109
55 64 54
28
38 88 88
......... 4! 7
8 8 ' - 8
23 23 23
15
63 63 63
29 29 29
00 89 89
48 48 48
11 11 11 .
41 40 40
10 9 0
88
42
..... ..... 35
114
53 53 53
11 10 10
PACKING TRADE
OF BETTER VOLUME
Foreign Bond Market
Furnished by Orerbeck & Cooke company:
Russian 5 a, 1921.
Russian 5s, 1926.
Russian 6s, J919.
French 5s, 1 93 1
French 4s, 1917 ..
French 5s, 1920
Italian 5s. 1918 ..
British 5 1922 " . ,
British 5s, 1927 ..
British 5s, 1929 ..
British vky. 4s ... .
British ref. 4s
Belgium rest. 5s
Belgium prem. 5s . .
(German W. L. 6s. .
Berlin 4s .
Hamburg 4s ......
Hamburg 4s ....
Leipsig 4 s
Leipsig 6s ........
Munich 4s .......
Munich 5a .......
Frankfort 4s ......
Japanese 4s ......
Japanese 1st 4a .
Japanese 2d 4 a . .
Paris sizes .......
V. K. 5 s. 1921 . .
U. K. 5 s. 1922. ,
V. K. Bs, 1929. .
V. K. 5s. 1937. .
Bid. Asked.
15 18
7 9
10 18
60 68
52 54
73 75
89 41 .
395 407
889 401
80O 402
303 810
280 232
60 71 .
73 75
1 1 - 12
12 13
14 15
14 15
14 16
14 16
13 14
15 17
14 16
67. 7
84 84
84 84
98
99
96 97
.90 . 91
86 86
Business developments In the
packing industry during: the month
of April showed some improvement.
One of the most hopeful signs was
a revival of buying for export ac
count. Botlv meat and fats figured
In the month's export business and
that fact has given rise to the hope
that a continually broadening mar
ket will be reopened in England and
on the continent. The stocks of
meat which some foreign govern
ments have had in large . quantities
now are being digested freely, and
their movement Into trade channels
Is bringing about a condition which
will ' undoubtedly lead to strength
ened demand in" the very near future,
says Armour & Co. ,
Production of packing: house products
was continued on a greatly curtailed
scale. Operating expenses remained dis
proportionately high in spite of measures
that have been taken to bring about their
adequate reduction. During the latter
part of the month the demand for both
beef and pork was maintained with con'
siderable strength beef being encouratr
ingly active for the first time in several
months. . :
- It is not to be presumed that busi
ness conditions generally have not had
a great deal of effect upon the packing
Industry. The increased, number of
mercantile failures during the month,
together with the increase In idleness
and the decrease in the earning ower of
a great many workers, all have been
very pertinent, factors in slowing up the
sale of all commodities. The lessened
volume' of bank clearings, . after proper
deductions for income tax payments are
made, plainly shows . the decreased, pur
chasing power, or decreased willingness
to buy. of the nation. There are still a
half million idle freight cars, an-elo
quent witness to-the stagnation of pro
duction along the line, and the prices of
some essential commodities apparently
have yet to take reductions before pro
duction of manufactured articles can be
augmented in adequate and profitable
degree.. All of these are among jthe
things that point to a continuance of the
present level to which business' opera'
tions have fallen.
. On the other hand, there are signs that
seem to hold -more, hope for the future.
though as yet they, are more or less
superficial in nature. A settlement of
the German reparation matter, whether
it be Considered a satisfactory one or
not by all parties concerned, will go
far toward the establishment of a basis
on which trading with that country may
be renewed. . The attitude of the new
administration toward business, and its
patent desire to .bring about a condition
whereby business will be able to stand
on its own merits, is doing much to re
store confidence of producers. The ef
fective manner In which the administra
tion has begun to function, which was
especially disclosed during this month,
was one of the most encouraging signs
that were evident in the last 30-day per
iod. Some of the measures which Presi
dent Harding had initiated, particualrly
the readjustment of the railroad situa
tion, will give an added degree of confi
dence to business generally. The slow
but sure liquidation of loans by the fed
eral reserve bank, with the consequent
increase in the ratio of net deposits to
loans and discounts, is tending to ease
the money market so that investments
may be rejuvenated. - v-
The reduction of steel prices an
nounced by the United States Steel cor
poration during April, and similar reduc
tions, though small in themselves, in the
prices of other building materials, all
have added a firmer undertone to busi
ness operations, though the degree of
that firmness cannot yet be measured.
There still is -a disparity In the relativ
ity of the liquidation processes that have
been carried on by many industries. In
other words, the equilibrium which would
enable every business to pull together
has not yet been reached. There are' so
many industries still struggling to main
tain their balance that they are unable
to add their strength to that of those
who are trying to turn thai wheel of
progress. It means that the entire busi
ness structure of the nation became top
heavy during the war, .with overhead
operating expenses that are very slow
to be liquidated. Many of them built
up machinery that was . based on an
effort to satisfy the great demand that
was caused by the artificial stimulation
of war. That demand was not an eco
nomically sound one, as has since been
demonstrated, and it is extremely doubt
ful that its strength again will be mani
fest. Many t Industries coming to - that
realization are trying hard to put their
operations back on a normal plane, it
Is the process of getting back that la so
painful, but each month sees Its accom
plishment more nearly completed.
All Indications point to the prediction
that these coming months of summer
will be ideal ones for the continued ef
fort of all phases of industry to obtain
a truer perspective of themselves and
their possibilities.
RAIL BUSINESS
SHOWING A GAIN
' Washington, r I). C ' May T. f he
railroad situation Is showing a
marked Improvement. Preliminary
reports , Just received from 181 rail
roads, representing 220,000 mlles of
line, or about 90 per cent of tlie
railroads of the country, show a net
Income for March of approximately
$28,000,000 against a deficit of 37,
000,000 In February. The figures
for April. It is declared, will make
even a ; better; showing than those
for March. In January the railroads
showed. a net Income of $3,000,000.
Under the apportionment figured . at
the time when rates were Increased so
as the give the railroads an earning
capacity equal to per cent dividends
the roads reporting for March should
have earned 181.000,000. The net income
of $28,000,000 therefore shows about one
third of the i estimated income was real
ized. The improved showings for March
indicates that the railroads of the coun
try are getting their expenses somewhat
in hand, due .to lay-offs and other re
ductions In operating costs. Traffic also
has shown jan Improvement. This is
especially true -of the forecast reports
for April. Jso better indication of the
passing of the industrial depression is
to be obtained than the improved reports
from railroads.
Standard Oil Storks
Anglo . ......
Borne Scrysmer ,
Cheesebrough j . . .:
t'heesebrouch ;pfd-;
Continental . j . . .
Crescent . . i . . .
Cumberland
Knreka . .
tialena com
(ialena (Md pfd.
alna - New jpfd
Illinois Pipe j . ,
Indiana Pipe I . ,
National Transit i
N. r.- Transit
Northern Pipe
Ohio Oil
International IPete.
Penn.' Met.
Prairie Oil
Iraiie, pipe
.-vlar - iieig. ... . . .. . . .
Southern Pipe
South Penn Oil ,;. , . .
8. W. Penn Oil .;.
8. O. Calif
8. O. Ind
S. . Kansas . .
S. O. Kentucky!.
. . .
. . . .
lif . i ....... ,
1.- ,,.......
tsas i , .
Swan Sc. Finch .
I'nion Tank i . ,
I'nion Tank pfd.
Vacuum . . 1 . ,
Washington J. .
S. - O. -ebra5k
Imperial Oil j. . '
Closing-'
Hid. Asked.
. 21 ' ' '22
1 300 30 -
. 192 200
. 98 100
.120 124
. 26 28
. 185 145
.. 92 84
.'48 45
. 93 OU
. 9H !!
, 176 : 178 '-;
. 81 83
. 27 28
. 147 150
. 91 04
.30U 310
. 16 16
. 20 - 29
. B4 615
. .191 - 15
. 410 420
. 06 99
. 215 230
, 65 68
. 81 81
. 75 76
.610 625
. 400 ,410
. 857 302
, 394 400
. 164 "" 108
. 85 " 45
. 106 100
. 93 06
. SOU 304
. 28 32
. 160 170
97 ' 99
RED
T ABROAD IS
CONVENTION PLEA"
Cleveland, May 7. "Restoro con
fidence at home and credit abroad."
That was the business slogan for the
United States suggested by Senator
Walter J? Kdge who rr.ade tho prin
cipal address at the . banquet of the
National Foreign Trade Council.
"Confidence at home can be restored
by n revision of the taxation prosram.
Credit abroad can be restored by tho
formation of foreign trade financing ioi
I'Orationa as provided for under the .so
called Kdge act," he said.
HARDING SENDS MI.SSAOK
"The fdge act provides for the en
largement of the American banking nyt
tern, msklnr lt noMHihle to irlvn n.iit
abroad on the same 1hU .that is no
possible at home."
A letter from President Harding wai.,
read at the banquet Friday night.
After expressing his regrets , at not.
being able to attend the convention.
Harding went on to say :
"I fceH that th National Foro.tl-n
Trade council has done a very xisePel
work and that Its opportunities for use
fulness are constantly increasing in view
of the changing conditions that affcit
international trade everywhere.
"It is gratifying to know that concep
tion of our new commercial relations of
the world Is becoming very widely es
tablished . .and 'that organizations llko
your own are doing much to spread it
further. '
COST TOO HIGH
"The new relation of America to the
commercial world since we hnve he-
come a great creditor instead of h
debtor nation, involves new problems In
view of the expansion of foreiRii trade,
and I know that those will be anions
the matters that your Cleveland con
vention will give the. most Intelligent
and helpful consideration. "
A number of manufactured articles. It
was declared, remain too high in cokI
of nroducHon tn roirtnete In neutral mar
kets, while agricultural products have
been reduced to pre-war level.M, How
ever,, no readjustment ran be complete
without reduction of costs of railroml
transportation, both, for domestic and
export snipmenc
rwl. - 1 1 ..... I . l . iii . . i
a lie luiiuwiiiK iiir-ri- 11 inai limit; ihii-
Icy waa outlined :
1. Retention of government-owned chips
until such time as they can he wold ud
yantageously. SHOULD MAINTAIN SKItVK'K
2. Ships which cannot be chartered on
a bare boat bant-i or time charter should
be laid up pending revival of world com
merce. 3. Maintenance of lines not Justified
by freight offered should be discontinued.
4. Shipping laws requiring lurger cr;w s
on American vessels should be repealed,
5. American shippers should give pref
erence to American vessels. -
6. Combined passenger and frclRht
service between the United Ktafcs and
its possessions and foreign ports hould
be maintained.
PACIFIC COAST BANK STATEMENT
Portlanat Bankt
J Thia Week
6.423.800.62
5,824.018.10
4.l'! RN1.II4
4.966.387.88
4,0J,4.-..8H
4.697,531.02
Clearinga !
Monday ... .t
Tuesday . . ,.
Wednesday ..
Thursday ...
Friday .....
Saturday. . .
Tear Aro
6,970,44 85
5.876.290.59
!.! ik
6.067.310.16
b.l 85.892. UO
8.56S. 905. 13
Week .. .J20.044. 553.64 $35.368,036.4 1
Spokane Banka -
Clearinss Saturday .......... 8 1.476.577.00
Balaneea Saturday. . . i 543.950.00
I Seattla Banka
Clearing HaturJr ........ . $ 8.996.010.00
Balance Saturday . S81.647.O0
Tacoma Banka
Clearings Saturday : . .....$ S80.059.O0
Balances Saturday 59.202.00
flan Francisco Banka
Clearings Saturday .317,400,000.00
Lea Angelaa Banka
Clearings Saturday til, 531,770.00
1
Sterlings Goes
To a New Mark
At WeekFs End
w Tork, May 7iV. P.l Fer
elga ezehaage closei stroag. Hterllag
reached a aew bigh since April a year
ago. being qnoted at IJIH. Fraaca
were .9881,1 lire .9514, marks .IlitH,
Caaadlaa dollars Jttli, kronea .1807.
'tw Tork Bond Market - t,
Kumi?:hed by trerteck A ?Vnilie nunpHrij'
114, 215, 216, 217 Board of Trail Imil'lmu
I.i.I.
77
. . .67
. . .S4
. . .73 ',;
trhiaon ffeneral 4. . . . .
Baltimore St Ohio grJd 4a.
Pethlehem Steel re. ,5. . . .
Central Pacific lt 4i
t Paul Biincnil 4 : , . .
Cl.ifagat N. XV. general 4.
K A N'. fn 4-
ew Tork Ky. 5 . . . , i . . ,
NortHerw I'ac. IT 1 4a' . .
Iteadiiif c;neral 4 ......
I'nion taoifi 1st 4s......
V. 8. Steel 6s
rw.uthern I'ae. ronv. Bs. ,
Hnuthem Pac. ronr. 4a . .
1'er-nrylrania ronv. 4 Ha.
I'tmxyWanis lot 4V......
ClioMiieake St Ohio eon. 5.
Oregon Short line 4
. .
',
. .7.1
ho -:
... :
. 7.-. i
..T7H
. . " K
.riH
.78 Ti
.S5
. 76 '
Si
.79
. IJlierly llond Kale
' Reported by Ouerbeck & Cot.ke Co. :
' - Hilh. low.
IJberty, 3 t 8030 8910
Liberty, lt 4s
Liberty, 2d 4s.. ........ ....
Liberty. 1st 4a.-i 8766 7H
Liberty. 2d 4 ...... ..8786 8730
Liberty, 8d 4 is... ;.1070 902
Liberty. 4th 4 14 a. ....... 874 4 8734
Vwtary, 4 . ......... . ... ....
Victory, 3 Hs. . .....0802 9Hm
Ak.
7T S
17 ,
83
7".
75 t
M I
-'
70
77 -HI
.
96
0.1
70'
88 ,
7H
7"i
CI-e.-8020
8 7 5
8730
87'
8736
tl64
874
98tMt
9M
' Washington Mtato Funds
r01ympla. Wash., May 7. For the week
ending April 30, the balance on hand in
the state treasury was $12,253,627-17. ac
cording to the report made by Clifford
L. Babcock, state treasurer, to the state
auditor. The balance for the week end
ing April 23 waa 112.138,144.62.
. v . Suit fo,r- Divorce riled
Vancouver, mitn., gryny . , 1 1 1, i ! n r.
Hall has started suit for divorce h gal nut
Kdith Hall, whom he married in 1916,
) charging desertion.
Place
RvTUfMls of the Annnal Statement of the
v CONTINENTAL CASUALTY COMPANY
of Hammond, in the state of Indiana, on the
thirty-first day of December. 1920. made to the
insurance commissioner of the state of Oregon,
pursuant to law : i
. ' . CAPITAL . '
Amount of capital atock paid np f 700,000.0
INCOME ' ' :
Net premiums received during ; - ' '-
the year 9.755.428.14
Interest, diridends and rents re-
ceiTed during the year.....'" 148,764.07
Income from other aoarrea re-
ceiTed during the year.... . 199,850.59
YODR Insurance; in STRONG Companies
Total income
,.:..,L.. 810,103,541.80
DISBURSEMENTS
Net loases paid during the year, . ' "
including adjustment expenses. 8 - 8,988,020.00
Diridends paid on capital stock '
during the year 72,000.00
Commissions and salaries paid
during the year ....... 2.930.4 16.44
Taxea. licenses and fees paid '
daring the year 270.728.84
Amount of all other expendi
tures . . 737.537.37
Total expenditures
.8 8,018.702.65
ASSETS
Value of real estate owned imar-
ket ralue) '...$. 75.000.00
Talne of stocks and bonds owned :
(market value) 2.525,615.00
Loans on mortgages and collat-
ral, etc. 1 5i'25?
Cash in banka and on hand. . . . 267,837.17
Premiums in course of collection
written since Sept. 30, 1920. 2,178,650.21
Interest and rents due and ac-
craed and other assets...... 861.062.29
Total admitted assets. ....
LIABILITIES
.8 7.829.509.67
Gross claims for tosses unpaid. .! 2.082.044.37
Amount of unearned premiums .-
on all outstanding risks 8,177,079.32
Iu for commission and broker-
age . .................. 584,134.77
AU other liabilities ......... . 242.502.60
Voluntary . reaerve 142.848.81
Total liabilities, ernT of
capiUt stock of 87OO.O00... 8 6.229.509.67
BUSINESS IN OREGON FOR THE YEAR
Net premiums seceieed daring
the year 8 148.664.76
Losses paid duriag th year. ... 82.348J0
CONTTNENTAt. CASFALTT COMPANY
H. H. B. A LEX A N DEB, President.
W. H. BETTS, Secretary.
Statutory resident attorney for set-rice:
JAMES McL WOOD, Portland,
Synopsis of the Annual Statement of the
UNITED STATES BRANCH OF THE K5I
, PLOYERS' LIABILITY ASSURANCE COR
PORATION, LTD.. ' 1
of London, in the Kingdom of Great Britain
and Ireland on the 31st day of December. 1920,
made to the insurance commissioner of the state
of Oregon, pursuant to law: -J
CAPITAL
Statutory deposit ........... $ 200.000.00
INCOME
Net premiums received during the
. year , 825.970.461.84
Interest, dividends and rents re
ceived during the year...... 943,136.28
Income from other sources . re- .
ceired during the year. ..... ' 83.231.83
Total
income ............ 826,948,829.43
DISBURSEMENTS
Ket losses-paid during the year in
cluding adjustment expenses, . 810,874,279.49
Commissions and salaries paid
during the year . . . . 8,553,372-87
Taxes, licenses and fees paid dur-
ing the year ............. 83.124.46
Amount of all other expenditures 4.678.069.48
Total expenditures ......
ASSETS
Varae of real estate owned (mar
ket value) . 8
Value of stocks and bonds owned
(market value)
Loans on mortgages and collat
eral etc.
Cash m banks and on hand and
with trustee. New' England
Trusf Co. . . .
Premium in course of collection
written since September 30,
1920
Interest and rents due and ac
crued ....... .. .
Advance to employes account Lib
erty loan subscriptions. . . .
822.988.845.75
552.345.75
21.669.787.00
450,000.00
874.994.78
8,885.922.82
297.978.24
8.797.00
Total admitted assets .829.684.103.54
LIABILITIES
Cross claims for losses unpaid j . 814.708,508.00
Amount of unearned premiums on .
all outstanding risks 8.565.822 50
Due for commission and broker
age . . j . 1.8S7.197.1 5
All ether liabilities. i . 1,859.333.38
Total liabilities, exehuJv of
' capita! stock ij. 826.490.860.98
BUSINESS IN OREGON FOR THE YEAR
Net prem rums received during the
year . . .8 61.622.78
Losses paid during the year, i ; . 2.847.74
THE UNITED STATER BRANCH OK THE
EMPLOYERS LIABILITY ASSURANCE
CORPORATION. LTD. '
IT. 8. . Manager. SAMUEL APPLETON.
Statutory ..resident attorney for service, James
McL Wood, Portland. - -
Synopsis of the Annnal Statement of the
NEW TORK PLATE GLASS INS. CO.
of New York, in the state of New York, on the
thirty-first day of December. 1920, msde to the
Insurance commissioner' pf the state of Oregon,
pursuant to law: .
1 CAPITAL
Amqnat of Capital atock paid op. 8 150,000.00
-" -' ' 1 . INCOME
Net premiums received during the -
year-. . 81.929.597.76
Interest, dividends' sad rente re
ceived during the year...... 45.117.99
Income from .other sources re-.
eeived during: the year....... 150,358.29
Total Income
.12.125,064.64
DISBURSEMENTS
Net ' losses paid during the year.
including adjustment expenses. 8 964,607.69
Dividends paid on capital - stock -
during the .year . 12.000.00
Commissions and salaries paid -
during the year 709,684.89
Taxes, licenses a ml ' fees paid dur
ing the year 4 85,804.49
Amount of all other expenditures 20.564.98
Total expenditures
..,.$1,762,111.85
Value of stocks:
ASSETS
and bonds owned
(market value) .8 794.880.60
Loans on1 mortgage and collat
eral, etc. 79.000.00
Cash in banks and on hand : 70,106.63
Premiums in course of collection -
written since Sept, 30, 1920. 529,821.06
Interest and . rents due and ac-
crued . ,i 4.879.50
Total admitted assets
.81,478.687.19
t LIABILITIES
Gross claims 'for losses unpaid ... $
Amount of unearned premiums oa
all outstanding risks. .......
Due for commuaiba and broker
age .
All other liabilities ........ . .
Total liabilities, exclusive of
capital stock of $150,000, and
surplus $45,014.24 $1,283,-
35,098.05
171.844.80
80,000.00
673,93
$1,478,687.19
BUSINESS IN OREGON FOR THE TEAR
Ket premiums received during tlx -
year V... .8 6,077.99
Losses paid during the year-. ... 3,292.88
Leas in incurred duriag tbs year.. 8,422.55
' NEW TORat PLATE GLASS TNS. CO.
MAJOR A. WHITE. President.
J. O. FRENCH. Secretary.
Statutory resident attorney for service :
- JAMES McL WOOD. Portland. -::.
Synopsis of thm Annual Httn,nt of ths
AETNA INSt RANCE COMPANY
rf Ifart'ord in the state of Connecticut on ths
thirty-first lsy of December, 920, made to
the InsaraTee Commissioner of th fuu of
CAPITAL
Armrant of capital stock paid np f 5, 000, 000.00
income
Net premiums received during
the year 826.947.223.41
Interest, . dividends sod rents
received during tits year.. ; 7.545. 243.22
Ir come from other sources re
cti red daring ths year.... 1,617.77
Total Income $C8.404,084.40
a ' DISBURSEMENTS
Net losses paid during the yeer.
including adjustment expenwa 12,537,406.68
Dividends paid on capital stock
during the year . . . . . 1.200,000. 00
Commissions and salaries paid
during the year......... 6,603.878.93
, a w. , i ii.n . anil irc jjviu
during the year. 1,787,699.71
Amount rjf all other expend i
tures , 2.404.607.02
Total expenditures. ....
- - ASSETS
aht of real estate
(market value) ........ $
Value of stocks and bonds
owned (market value) - . . . ,
Loans on mortgages and col
lateral. te. .
Caeh In banks and on hand..
Premiums in course of collec-
tion written since September
' 80, 1920.
Interest' and rents due snd
accrued .....$847,093.87
Total admitted assets
LIABILITIES
Gross claims for lowes unpaid.
Amount af unearned premiums
on all outstanding risks. . .
Due for commission and
brokerage ....... ... . , ; .
All other liabilities .........
.$24.62S.502.a
410.000.0t
31,671.500.92
10,982 31
3.863,485.59
4,356.235.06
$ 210, 648. C3
840.872i54T?0
$ a.45'J.477.39
21.173.154.16
no. ooo.oo
995.000.00
ToUl UabiliUes, (xchudva of
capital stock... ,..$35,657,631.95
BUSIXEAR IN OREGON FTR THE YEAR
Net pnrmtums received during
the year $ J 60.865.26
Losses paid during the year. . . 8 --54.321. 87
Losses incurred during the year 4M.tf40.5tt
Name ef company. Aetna Insnrsnce Company.
Name ef president, William B. Clark.
Name of secretary, Guy E. BeardJfy.
Statutory revident attorney for ferric, 7
UcKercher, Portland, Or.
JAS. Mel. WOOD & CO.
General Agents for the , Above Companies-Fire, Lia
bility. Personal Accident, Durglary, Surety Donds and
Plate Glass. 314 Railway Exch. Did sr. Main 47 and 47Z Z