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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (July 26, 1921)
TUESDAY, JUIiY 28, 1921. THE OREGON DAILY JOURNAL. PORTLAND. OREGON IS EXTREME DULLNESS SHOWN IN SHARES AFTER OPENING STREET RAILWAY IS PURCHASING RAILS Federal Reserve Bank Statement Hi following com par rive UiMnt of the oriricioal rcMwre and liability item of ail national bank mm of Jane 20. 1921, in the city of Portland. Or., ni released for publication today by John Perrin, chairman of the hoard, and federal reserea agent of the Federal Paint bank of San Francisco : Chicago. July 26. The Lorraine Steel company has been Awarded an order for 6000 tone of girder rails from the Chicago Street Railways. This is the first substantial order for girder rails placed so far this season, although some emajl orders have been placed recently. New York, July 26. Railroad execu tives on a number of roads declared to day that they believed it would be cheap er for the roads to farm out the repair work i on ears to equipment companies than to do the work in the railroad shops. " Voungstown. Ohio, July 26. The Toungstown Sheet and Tube company today went under a reduced wage scale which provides pay of 30 cents an hour for common Tabor. All other Independ ent steel companies in this district put the same scale into effect. Tlttaburg. July 86. The Colonial Steel company has cut prices of Its tool steels front IS to SO per cent. This marks the first important change In prices of these grades of steel and applies on standard carbon grades as well as vanadium and oil hardening steels. FtJRS New York. July 26. Retail fur deal ers will have few August sales this year, according to reports from retail centers. One wholesaler declared today that $500 would be the top price for ordinary fur coals this vur and that sales of fur garments priced above that sum would I oe iew. New York. July 26. A stir has been created in the local raw fur market by reports that large offerings of Russian furs are to he made privately and at suction next week in Leipzig and Lon don under direction of representatives of the soviet government , STRAW RATS New York, July 26. Increased demand for hats -of wider brim with band and crown in proportion is believed by hat manufacturers to presage popularity of that style for next year and manufac turers are concentrating on the large models. METALS San Francisco, July 26. The Califor nia Metal Trades association has an nounced a wage reduction effective Au gust tt affecting about 50 classes of workers and averaging 10 per cent Wages of about 25,000 men will be cut. FISH Anacortes, Wash., July 26. While 'sockeye salmon are beginning to appear it will be two weeks before canners can determine whether there will be a really big run or not. On the Frazer river the catches have been small. COAL Scranton, Pa., July 26. Despite the difficulty of moving certain sizes in the market, the ant:, arite collieries are still operating steadily except where suepen- . - - - - r-' -...,. PrefitT awl Vu'liri mim& Doe to bank - Deposits, United States Deposits, demand v. . . Deposit, time . Rediscount. Fedml TTswrr bank . . . 'Redbreast, not Pedersl Sim i i u bat BUI payable. Federal Begem bank . . . Ci rrala tion Letters of credit . . Acceptance - Other liabilities LIABILITIES Kilt Banks June SO. 121. .1 5.325.000 2.23,000 i.Mt.eeo i,ea,ooe 106.000 42.427.000 28.0ST.0Oe ::::::::: Total Tw rt and discount . . Rediscounts Overdrafts . . . . V. 8. bonds aad securities Other bends sad seeuri tie Bank nous, furniture and Other real estate owned . . Cash aad eicfcanse Letters of credit Other 1 5.000 3.790.000 14. 0O 1.4SS.OA0 12.000 997.490.000 BESOCBCES - 32.091,9w ''YfefM 8.173.00 S.S82.000 ....... 2.086.000 S17.0SS 17.714,000 I! Hit! i.VftS.OOO 307.000 Anil 26. 1931. S 6.523.000 3.29.000 U74.00 13.14.OeO 125.000 44.705.000 J7.SOO.000 2S0.OOO ' 75.000 J, 698.00 18.600 1 .600.000 1 .063 .000 $101. 758.000 $U 9,42 1.000 SO. 1320. t 6.325.000 2. 22.000 1. SO. 000 17.144.000 184.00 58.883,000 25.0.OOO 2.820. 118.00 1.841.9O0 2.745.00 58.00 3.208.000 6.004) $62,542,000 289.000 31.000 8.878.000 5.395.000 S.105.000 219.00 19.488.000 i.'seo'.ooo 1.845.000 $ T4. 029.000 2. 4 36.000 66.0OO 8.778.0 6.24.000 2,154.000 200,000 24,373.000 4.000 8.208.000 390.000 Total .87.40.00 610L.TSa.0OO $119,421,000 Not ineladed ia total. sions have been necessitated by labor troubles or need of repairs Minneapolis, July 26. An Increased freight rate of lSyk cents a ton on bi tuminous coal has gone Into effect be tween this point aad Duluth despite pro tests of shippers to the interstate com merce commission. BEAKS Detroit, Jury 26. The white bean crop of Michigan is estimated st a condition of SO per cent and production of 2,496, 000 bushel U anticipated this season, grown on 236,000 ere. i CL0THI5G St. Louis, Jnly 26. Prices for men's clothing have been reduced approximate ly 25 per cent but the increased volume of business promises to bring the reve nues to manufacturers and wholesalers up to the money total reached in, the spring months. JEWELRT . New York, July 26. The wholesale jewelers here report a decided better ment in collections lately. Flexible plat inum bracelets, set with precious stones, continue to be the feature In high priced Jewelry. Platinum prices now range from $73 to 90 an ounce, according to hardness. sroAm Detroit. July 26. Michigan beet sugar has reacted in sympathy with cane sugar and has advanced 1 to l' cent a pound in price. BJIDBS Boston, July 26. It is reported here that the Central Leather company ha broken the dullness of the hide market by a purchase of 200,000 hides. Officials of the company decline to confirm or deny the report. Stock ibpics Market! Representative of automobile acces sories report substantial improvement in trade throughout manufacturing cities of the Middle West. EARLY RISE IN STOCKS IS LOST New York, Jury 2- (I- N. & The stock market closed unsettled today. The strong tone which was shown In many stocks on Monday did not endure over night and today the movement of prices except for a few specialties went to materially lower levels. The market was heavy generally for a short time after the opening hat as the day pro gressed concentrated felling caused sharp declines in the various offerings. Further market nnsettlement was scored in the operation of the last hour of the day when United Drugs sustained an additional loss and a heavy selling move ment occurred in International Harvest er, carrying thai stock down to 71 glM 75 te at the close yesterday. Southern Pacific yielded from 78 to 77, followed by a rally to 78. United States Steel held steady at 78. The final tone was unsettled Total sales of stocks today. 369.100 shares ; bonds, $9,632,000. International Paper, obtaining all skilled aad other help needed to operate its mills. American Woolen Mill prices on wool ens and worsteds for spring of 1823 practically on parity with full Quotations made last February. Twenty Industrials 69.80 up (7. 20 rails 73.09 up .07. Here Is an expression from a conserv ative member of a well known New York Stock -Exchange firm: "I think that the stock market has changed considerably for the better and economically the situation is much Im proved, and I look for a general advance.' Union Pacific and Pennsylvania June earnings increase. New York Herald, July 26 Estimate probable earnings of U. 8. Steel to be shown, range between $10,000,000 and $15,000,000, with a consensus of opinion nearest the lower figures. The com pany's Interest and preferred dividend requirements quarter are approximately $11,000,000. New York, July 3.. L N. a) The stock market opened generally strong and fairly active this morning. Mesicaa Petroleum advanced to 105. United State Steel rose to 79. Reading declined to 69. Cuba-American Sugar advanced to 17. American Wool en advanced to 73. Studebaker de clined to 79. Baldwin declined to 79. United States Rubber rose to 54. General Asphalt advanced to 61. Tobacco Products rose to 59. Crucible Steel advanced to 54. American Sumatra Tobacco rose to (1 and Union Pacific advanced to 120. From a period shortly after the open lag this morning the market displayed i heavy tone, but business was extremely dull and confined almost wholly to the speculative element on the floor. A few stop orders were caught on the decline and the lowest prices. in many issues re ceived from the execution of stop-loss rders. This was the esse, especially la Studebaker, In which a number of stop orders wore reached at 79 and 77, carry ing the price down to 79. a loss of points. Central Leather Issues were influenced by reports about a quarterly statement, the common falling from 39 to So American Woolen was in supply, yield ing over 1 point to 71, and Baldwin dropped from 80 to 79. Kelly-Springfield Tire was down 2 point to 41. U S. Steel moved in a narrow range, falling from 73 to 7$. Furnished by 0 of Trade building: arocT SET bisk Cooke Co.. Beard $00 130 200 100 500 Advance Boss do : (d. . . . Ast. Chess. . . A tax Rubber . Alaska io)d Alaska Junes . , Allied Ones. . . . 00 AIBs-Chelmen . 160 Am Botch . .X lO0 Asa. Can Co. . 1100 Am. Car rdj. 36 24 1 H 88 28 96 2$ V 1 SR-4 31 3S 27 11261125 Bin Ts- 88 86 33 1 3 8 V 31 32 38 125V ADDITIONAL ISSUE $250,000 PORTLAND GA & COKE COMPANY First Lien and General Mortgage Gold Bonds Series of "7's Due 1940" Dated January 1, 1921 Due January 1, 1940 Interest payable January 1 and July 1 at the office of the Bankers' Trust Company without deduction for Fed eral Normal Income Tax not exceeding 2 per cent. Callable at the option of the Company, on the first day of any month, on four weeks' notice, in blocks or not lee than $250,000 at 107 and interest, to and including January 1, 1924 ; at 105 and interest, thereafter to and including January 1, 1931 ; and at a premium becom ing of in less each year thereafter to maturity. Coupon bonds of $100 denomination, reglsterable as to Bankers Trust Company, New York, and B. W. Jones, Trustees OUTSTANDING CAPITALIZATION AT CONCLUSION OF THIS FINANCING Funded Debt: , Authorized Outstanding First Lien snd General Mortgage 7 tf Gold Bonds S 1,050,000 ft.OSO.OOO First snd Refunding, Mortgage 5s t5. 000,000 6,409,O00 Portland Gas Co. First (Closed) Mortgage 5s 750,000 371.000T Capital Stock: PreUfrred 7 Cumulative Stock 3.000,000 2,830,200 Cor6on Stock .. ' 3,500,000 3,000,000 Note': An additional $1,060,000 of these bonds are deposited with the Trustee as additional security for the present General Mortgage Gold Bonds. of Kirst Lien and If oteti These bonds are part of an authorized issue of $750,000, of which $379,000 have been deposited under the First and Refunding Mort gage, and leaving only $371,000 outstanding. HISTORY The Company was incorporated January to, l9to. under the laws of Oregon, as a successor to the Portland Gas Company and the East Portland Gas and Light Company. It does the entire gas business in Portland, Oregon, in Oregon City, Oregon, snd in fifteen other communities within a radius of about twenty-five miles of Portland. The business has been established for over sixty years. GROWTH OF BUSINESS The Company's modern gas manufacturing plant, placed in operation in 1913, has a present daily generating capacity of 12,000, 000 cubic feet and has provision for an ultimate capacity of 20,000,000 cubic feet. To take care of available new business, additional generating capacity of 4,000,000 cubic feet per d$y is now under construction. The Company serves approximately 73,420 meters through about 1130 miles of mains. SECURITY These First Lien and General Mortgage Gold Bonds will be secured by deposit with the trustees of an equal principal amount of the Company's First and Refunding Mortgage 5 bonds, due 1940, and f or of cash. The First and Refunding Mortgage S Bonds are secured, in the opinion of counsel, by a first lien on the entire plant, property and franchises of the Company, subject as to a portion thereof to $3 7 1,000 outstanding, underlying bonds, of which underlying issue 3 79,000 additional bonds are deposited under the indenture securing the First and Refunding Mortgage 5 Bonds. The First Lien and General Mortgage Bonds will be further secured, in the opinion of counsel, by a general mortgage on the entire property of the Company. The value of the physical property is largely in excess of the Company's total bonded debt including this issue. Under the trust agreement, the amount of bonds issued is limited to 75 of the cost and value of permanent improvements, as certified by the trustees' engineer. . PURPOSE Proceeds from the sale of these bonds will provide funds for improvements and extensions to the property. EARNINGS FOR YEAR ENDED JUNE 30, 1921 For the year ended June 30, 1921: Gross Earnings 3,214,994.86 Operating Expenses (maintenance and taxes) 2,259,761 05 Net Earnings , 9 S 5,23 3.81 Annual interest on total funded debt, including new Issue .- . 412,500.00 Balance 542,733.81 Net earnings for the year ended June 30, 1921, $re more than 2l4 times the annual Interest charges on total funded debt, includ ing this issue. Earnings of the properties now comprising the system have shown consistent and substantial growth. . All legal details incident to the issuance of these bonds will be under the supervision of Messrs. Sullivan & Cromwell of New York City PRICE: 95 and Interest, Yielding about 7.50 Blyth. Witter. & Co. UNITED STATES GOVERJWEItT MUNICIPAL ATTD CORPORATION BONDS 402 Yeon Building, Portland, Fifth and Alder Streets Phone Main 8183 is 709 Aaa. Cat. Oil lijB . liuTa tieaieer ItTPT de sid. de 15. iija XaO. Corp looses. Uasasd . . laSwlAs. .Lore. . . . . ...r a pu. .... As Steel My. 20 Asa. Ship, a ZSJSH. 100 30 lSOOiAea. Sumatra . . . aftftftUa. TeL A Tel . . ITOOlaea. Tekeese. ... . SOOiAa Tssum -" 1700 IA1 sattTV,.: ,Am i lAsi mvii lOOlAa-d Oil . SlOOUtckwaft . 101 do ofd 400 At! rf a 8001Baldvte I Ss 84. . . . 94omaite. a Ossi 200 do pfd. SSOOIBeOi Steel "I Beeth fish .. 8SOIS. B. T OOLBstts C. a Z. SOO'Bntts a Be IOO CaHf ! , zveon ansxnaa learasB lSSSKerro de 340 rraaaalar ate 7 rsssm a . 100 nn s o. loairatosse t w cum cam . . ii 9B 8 lMi 1134 121 V 73 V SM 47 97 Pee. 1400 20OiCaeje 40jC. If. St. P. 80 C. M. SC P. S7rCoce Cola . . (c. a a le Cole. r. a t 1300 Col. C.a S Klee. 70fCulssab Graph OSrCee. Oee Coan. Clear . . . . cv,ntl Cas 00 ConU. Caadr . . . eOOlCorn Prod. toora Pref. pfd . . 11400fCeeden OU 010. b. l a p. . . 100IC. B. L a P. 'A' Vt 100,r. B. L a P. 'B' pMj S200rcrarTMe I C raeSJe pU .... SlOOICaba Osse 1500 Cuba Case pfd. . I fnh. Abb lr rvi a H Dosae Mine ass 400 d. a a. o. 00 d. a H. C. pM. SHOO Kadioott Johoeae . 80 Brte 00 Erie l,t pfd. 200 Erie Id pfd. 3300!ramoo I'lann. I Fed. Hinina A Salu ... .1 do ph....... 1400191 Tin . . . . IGeeton Was lOOIOea. Clear lSOOea Else SOOKiea. Meter Oe. Met. ... 9700:Crn. Asphalt 800ioodr1ch ....... .... ICeedysar 200 (irsnbr 100 ; rest Sot. Or. . . I00OOnet Sot. pM. . . .... insseca) Camaea. . . . 300 Celt B Steel 400Hekk Barker 1200: Houston OB e0Happ Mote 900!IOp. Cent ... Inspiration ion int. Act. Corp, c. 200 Interbor .... de pfd Intrrttate Callahan InL Marc Banna . 0001 do pfd. Ir.U Nickel SOO Int. Paper ... .) do pM 500 Intnc ibis Ofl SeOSilaland OU 200 Jewel Tea 100 K. C KooUitrn . . a. r. Son. KeUr 10000 J 00 111 2ft 900 300 Lack. lee Tin Lehlsh Valley Ueruterd VOO bow 400 I. N. 100 500 (J0O 500 500 00 800 7 S e IS! 13 ST Vi 132 ! S2H 58 11 os s 91 PACIFIC COAST BAB ST ATM BUT Wrk Tsar Asa .9 4.924.81 19 9 a.Sf5H .itvss A8T.S3S.5t Clisriesi. t.BwS.43B OS 888.73 SO 19.73393 97 .9 4.28.182SO T5,l 00 .9 sia.iex.asj 91.92S.99 Per4ga PereAeaed by Ore saeea Stts 121 ssAsa 12 . awaaa 191 seek 9a 1991 reek 4i 1917 ... ssjsfc 9s 193 iMea 8s 1919 ttaa a 13 ... BrltS 9e 137 Brtttah ft 1SS . . . British eky. 4 . British rer 4 .... (iersaaa W . U a . rl!n 4s lib here 4 ..... Rasekesv 44 .... leSeaeT 4s bekeeej Se Mesh 4s BfcaeJ Be Frankfort 4s . . , . . Jaraeees 4s Japanes 1st 4S . Japanese 3d 4 . Pari s C. BL 9Hs 131 T. 8 SHi 19X9 . V. K. Ii IS 3 . C. K 5 i 1997. Boer Toss.. ass, TrTS ; , TJL P.) 1 98- ; Asa. 8BOBT TSBUf BOTES Mstseto 1 BW.' 9a 9- 3-1954 9 83 e.-f3l 4H 4 94 99 " 1700 Mrs. Pet . . . Mum. - 3800atid. States OU Mldtal Steel IM K. A T A Bid Mont Power . do nfd. . . M. .St. r. A S 8 M. M ft. U . . Bel. BiassAt . . . NaL Knamd . . . Nau Lead Net. Con. Nw Ha rea .... Norfolk AW... S00O Nor. Pac .... Neva Scotia Steel IB. T. Air BtsAe. 70o;n. T. Central. . . 800;Okla. Prod, ref . . (Ontario SUrer. . . lOOIOnUrio AW.. SOOjOtla Steel IPectfle Dee. . . . ISOOIPae. t; a alec. 840O PcrV Oil TOO Pan-Am. Pet. . . 20 Paa-Aa. Pet, "B 3400 Henna. . . . 1300 People ; ii a 119 43 H 19 Si 13 8 117 200; Pw Maraejette. . . . Philadelphia Co.. 900 Pore OU 7300 Pierre Arrow 400 Pierce O0 800 Pitta. Coal , Ipius. a W. Va . ., 40o Pressed Steel Car. 1700PeJJaetB 200 Rar Ceea. 3t0BeadB iBesaisstoa rtepiosle Steel . . . 00 Republic tag.. I do pM I Rea. Motor 2100 Royal Dutch OB. . By. Steel Sprints iSexoa Motor 220 Sears. Bosh wok . . shat tuck. Aria, . . !O0 Shell T. a T 5e0minetair 20O8taadardx OU, Calif 71 3 is' ' 10 54 35 49 43 99 83 3 11! 11S 71 it ii" 10 SSH 98 49 43 93 83 a S0 80 38 38 18 7 98 74 7 12 S 8 4 92 7 lOSMtSoe. Pacific 400 IOO 10 20 38TOO 379 00 2300 2 tOO Soi. Kr do pfd. st i. a a r Car... swift a Co Tenn. Cop. A C . . Texas OB Texas Pacific T. P. C. a O Tob. Product.. . . . ran OeoU OU . . . . TOO rnioa OU Del 1300 Colon Pscific ... . Cnited Alloy 5700-rnited Ore 8100 Cnited Food Prod.. SOO'l-aited Pratt I n ted Bde. of B. I 2001 do at. Cnited Retail Stores) 1IM I'. S led Alt 2500 D. 3. Rabhe a let pfd. . 200T. 8. Bsaeitia 130C. B. Steel . . 200( do rd7 . . . Cttk Cossr . 1too!Va OBwea. .. 30O Vsaediaja Steel . . . 'Vprsndow SOojWakesk .... do A Pfd de B red. . Faroe . of. . . . Western L" se K. a BL West Md ... 13Oiwmji Oisitwa9 sws .'00 A. B 97 20 74 79 30 39 91 78 T IT Wi 12 9 45 1 97 94 33 19 S 7 19 130 is 19 103 30 so S3 4 9i 79 109 3 X9 33 38" 93' ' 44' ' "t 37 39 73 77 3 24 31 7 97 84 33 19 88 7 19 130 111 104 : so, 93 1 10 III 33 24 94 43 1 'i' fowierussa recwa ... 1 800 WottkkeaSea' PaaisM- W. 4 U B. I Llfcerty Bead Savkt ask- Leo tike sty. 8s 973 S72 aUbVsrtya a8e - -eeee - a . . I SjsiIi SB 4a I Siili 1st 4s 8774 12 11 48 75 10 19 i 74 31 97 TO 1 iti 1 a 94 49 43 9 S3 20 3S 17 7 54 37 TS M 12 99 19 gl as 12 S3 94 4 99 7 20 74 84 78 20 48 34 31 If 7 1 34 22 IS $ 7 10 it 74 17 194 " 19 S3 SO 88 4 90 79 19 49 3S 3 7 22 14 98 a 21 Jl 99 S3 42 9 I 1 f SUCCESS Jimes J. Hill, the fi mous empire builder once said: "If you want to know whether you are desfined to be s success or not, you can easily find out. The test is simple snd in fallible. Are you able to save money? If not, i drop out. You will lose as sure as fate, for the seed of success is not in you." Bonds of Northwestern Cities Yielding 6i to 7i Ask sbottt our partial payment plan. C LARK-KEN BALL e co. inc. Fifth and Stark Streets Oskkss m, AST AT S 1 1 18(3 Asa. J. A T 9s. . I I 19X4 Asa. Thread s It- 1-134 Asa Tea Ts 11. 1.1921 do Ts 11- 1-133 de Ts ... .11- 1 1988 AeSrAsa. OB 7 9- 1-13$ Areata Caw. T. T-18 If 3 Beta, Gee. .7. 9 1 143 3tWv::: rUiiS de 7s 7-18-1938 Bittaah Oee. 5 11 1933 Betewh Uee. 9 s. . 1 1-1 ls Osav lie s a i-i3i 4V 9a 9- 1-12 W4 Peek. T. f IS tS4 Inter R T 7. . 9- 1-1921 Ow. 4a... t-1 ft. 11 A Kern. Cos. 7s 3- 1 1930 B. P. Bees 7s. . . 13 1933 PernV Oas 99. . . 9- 1 133 Swtft e 8-1X191 r 8 Rebkor T. . IX I 1838 9TATB AK OftW OtmsfB. dlractor JwXeBtill9 ll Of Ukt State Bask or PortUnd will motor Thursday afterwoes to Brtetabirdl las OB de hhrnvay 9sr. aa svwslfe warty, M ksuhk after whir there wfH be (Unctss; aad s $caj eatsrtJsraajnt raw York kaL'a'oaswTSeM 98. ." . fta Iflt wrfte a e Oeal 4. CwkwsSe B. W. GesB. 4 U a B. BM. 4a Vow Terk US- 8a Settkera Pac P U 4s Sasvska Oeal 4s rsftsa Pee. let 4s r a steel 9 ( alee Pee 1st Ref 8 uutkiis Pac. Ccwt. 8s a esaer Pea Ose. 4e. ..... Pi nee Cwa 4 Peas 1 let 4s CW a Oka Coat. 9ft Oa SBeet Us 4 cat Synonyms: Prosperity; Palouse; PiilJmtin Pullmtn. Washinfton. in the heart of the Palouse CoantrV in Whitman County, the createst wheat prrxhicrnr county ta the state, his a remarkable asset in the Urge number of flowing artesian wells ia and shout the city which aid greatly in economical production oa the farms end exceedingly low cost of water in the city for household use aad fire protection. TW aaxt 49 f Pal Was is stklp 9999. Pullman is home of the Washinfton State College, one of the best agricultural colleges la America, with aa enrollment of 1 5oo students. Ask bs for details of the one to tea-year 7 Improvement bonds of Pullman we own and offer st per aad interest for any maturity to yield a full 7, income tax exempt You may purchase these oa the Partial Payment Plan ii you desire. Wire orders "collect." Freeman, Smith m Camp Ca United States J of Brazil WW. . ft External 5 I SCHNEELsOCH Sterling Bonds t Denominations 100 500 1000 A Pireet aad Oeaeral Kstermal Okllgatto of IB Kepsbllc At the present rate of J00 purchased at will yseld S preftt et $399 at ma turity. In addition to an annual Income of about 9. Increases In price of sterling exenarure win in crease tnka profit portionately. and Income pro- PRICB AID COBPLFTP DETAILS fJPOB APPLICATION ' iSSrtawaOawswT f 979 8799 878 8T Sl44 HERRDi ft RHODES, inc BROKERS MEMBBK8 CHICAGO v OT TBADE Prreate SOAID l teWfcJs98 SjBfaaSSwe? LIBERTY AND VICTORY BONDS 91. BOC09IT ABB BOLD BTATB E Slw-317 Overbeck&CookeCo. DIRECT PRIVATE WIRES TO ALL EXCHANGES $1360 Possible Profit on a $1100 Investment Ast unprecedented opportunity v for profit by buying 4 and 5 External Gold Loan Bonds Republic of BrazilJ Due to the fact that the American dollar commands m big premium in England, we and our associates have been able to purchase these direct general obligation bonds of Brazil at prices which will, upon equalization of exchange, return large profits to the holders. At the present rate of exchange the 5 bonds, for instance. . YIELD 8.41, INCREASING TO S 1 3.35 WITH STERLING AT PAR At $1100 for a 5 800 bond WIU Xtwar at Aaaaal Iiroms Mat. Tarae Profit 3.60 $90 $1800 $730 4.86 (par) $121.80 $8430 $1880 (Four months' accrued interest included) Bonds in -100 800 1000 D Prices on arpplication Broadway and Oak A High-Grade Local Investment We own and offer $50,000 PORTLAND GAS & COKE CO. 7 GOLD BONDS 1. 1940 si S1000 Price 95 and Interest Yielding 7 Per Cent These bonds secured by a first Ken and general mortfaf e on all ta prop erties of the conpsny. offer aa un usually secure investment opportunity The Portland Gas m Coke pahy has a history of over years succesrful operation. We recommend these bond investatent. "Complete details oa reqae 9793 9744 914 A V. m 878 9184 Seattle San Francisco Ls, Liberty: M IVi LAterty. 4th 9789 ft 97 8 1 42 984 Tksksry. 181 84 i