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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Sept. 20, 1921)
WBSH)eJB3pee V. V - ? THE OREGON DAILY JOURNAL, . PORTLAND, OREGON TUESDAY, SEPTEMBER 20, 192L 1G PAST DARK CLOUDS WALL STREET QUOTATIONS Furnished by Overbade Cooke Co., Board of Trad Building. OIL SHARES ARE INCLINED TO DIP LOWER IN NEW- YORK TRADE STEEL INDUSTRY LACK OF SUPPORT 8.W. 1 STOCKS I High. 1 Law. 1 Bid. 600 200 500 100 700 300 400) 100 4300 2800 600 200 7600 1000 600 100 5000 4100 200 100 200 400 500 Toungstown, Ohio, Sept 20. The steel 'industry, the last of the basic Industrie (a feel the depression, has cotrte through that period In good shape, according to W. E. Manning, president of the Youngs iAn Sheet Tube company. Less new financing has been required than In near ly every other line, he declared, and added that while freight rates still were too high to permit of very profitable business, production had snown impro mentin the last month and a half. SILK Paterson. N. J.. Sept 20. Silk manu facturers here state that unless more .iv tnrvinff nets In. next month will ... - decided curtailment of manufac- f allk a-ondsL i.ui.i'. Pa.. Sent 20. Edward S. inhitnii ha, nurchased the completely quipped allk mill of the Reliable Silk Manufacturing company here, and ex pects to turn out 400,000 yards of goods yearly. , COTTON New York, Sept 20. The advances in finished cotton goods as a result of the o nri flurrv have been less in nmnortion than the advance In the sta nu iiMir in manv cases. The .Amos- keag mills have advanced A. C. A. uni ilrklnar from 18 to 23 cents yard. Some denims have been advanced from 12V, to 18 cents. Manchester, England. Sept 20. Relief Is expressed in mill circles at the aban donment of the proposed strike of card , room workers. The employers faced with a strike of these workers threat ened a lockout of 160,000 spinners and . card room hands and the proposed strike was abandoned. MEN'S CLOTHINO Chicago. 8ept. 20. Notable tardiness by mills In delivering piece goods to man ufacturers of men"s suits and overcoats will result in many cancellations by re tailers, according to merchants here. KNIT GOODS .New York, Sept. 20. Underwear and hosiery manufacturers report an in crease in orders within the last few days despite the price advances they have made In their goods. Because or large demand, balbrlggan underwear has been withdrawn by some mills. Beattle. Sent. 20. Shoe repair men here have reduced the cost of half sol : In shoes to II. 60 per pair. Earlier this .year the charge was $2.60 per pair, New York. Sept 20. There has been some v slight improvement In trading in - the more desirable classes of leather In ' this market. Klrrn prices prevail for the f . better selections, but tanners and deal ' era are making some concessions to stim- ' utate buying of the medium and lower grades. IflDES Buenos Aires, . Sept. 20. British inter- ' ests are reported to have bought 6000 Las Palmas Frlgorlfico hides at J48, which is about the equivalent of 17 cents, cost and freight, in the New York market IRON AND STEEL Camden, N. J., Sept 20. The keel of ' the fuel supply ship Kamoi for the im perial Japanese navy has been laid down ""here and the construction of the vessel tt-ltl V.. . II u Vi a rrV n,.nnUi hU -4 1 1 W& . i . w , uniltu, auo uf f1 Duly niu UTJ 600 feet lontr and have a dead waieht tonnage of 13,000 tons. Contract speed Is . 16 knots an hour. Cleveland, Sept 20. There was art in crease of 10 per cent in production of Iron in this territory in August over '.July and an Increase of 40 per cent in . the production of steel ingots for the same period. These rates of increase are oeing maintained or exceeded this month New York, Sept. 20. Pig Iron is gain ing in sirengm every day in this sec lion, une local Inquiry reports an in quiry for , 2000 of No. 2 plain foundry from New England which probably will d closed in the next few days. Ton nage lor early delivery probably will come from P ittsburg at $20.60 a ton or . from Buffalo at $21 to $21.26 a ton. ' ' Reading. Pa., Sept. 20. The Carpenter Steel company has announced a cut in the rate of pay of common laborers from it to 24 cents an hour. a. COAL New Tork. Sept 20. Dealers here , feel that several weeks must elapse be fore coal requirements of the country - will Increase sufficiently to have any oecioea eitect on prices aitnough au tumn demand Is normal. FISH Vancouver, . (j.. sept. Z0. The en tire pack f sockeye salmon from British T Columbian waters to date this year Is only apparently 140,000 cases, which Is far below normal even for off years. New York, Sept. 20. Arrival of two learners from the Pacific Coast loaded ' with red salmon has caused a break in the market for those canned fish to $2.60 a dozen. Other varieties were not af fected. OIL 4 Tulsa. Okla.. Sept. 20. The Sinclair F.pe Line company has completed Dur- chase of the gathering lines of the Texas company in the Bird Creek district of This state and hereafter the Sinclair Crude Purchasing company will buy oil from producers who previously sold to the Texas company. VEGETABLE OILS New Tork. Sept. 20. Linseed oil prices have been advanced the second time this , week, this time to 80 cents a gallon in : carload lota. ' COPPER New York. Sept 20. Large dealers ana selling agencies are not prepared to . accept orders for copper at less than! , lt cents a pound for this month and 1J cents to 12V-cents for October de I'very. Japan Is buying moderate quan tities and has succeeded Germany as , the leading foreign purchaser. DRAPERIES few Tork. Sept 20. Drapery and ta pestry manufacturers and Importers re port demand for hangings in cretonnes. - damasks, silks and velvets resulting from refurnishing operations after the sum mer absence of many families, t FRUIT -Tlant City. Fla.. Sept. 20. The straw berry growers of Florida will meet here September 28 to adopt plans insurinsr an equal distribution of the berry crop next year. , BEADS , . w mrt, wpv sv. importers are .-. aping large business in all kinds ot leads as a result of the vogue for bead ornamentation on dresses, shoes and . millinery. . ,Anun aum O400!asr. Chem 40ACT. Chess... 400 do pfd UOOlAJax Bobber...... Alaska Gold...... (Alaska Juncaa..... Allied Chem Allis-Chalmers . ... do pfd. Am. Beet Sosax. Am. Boncb Am. Can. Co Car Fdj. . do pfd. ........ a. Cot Oil t do pfd Am. Drug Bjnd. . . 8 00 1 Am. Bid 4 Leatb. 4001 do pfd 1 OOf Am. loe. '. . 3800Am. faU. Corp. . . . 4 00 j Am. Linseed...... 1001 do pfd 200! Am. Loro. i do pfd 200 1 Am. Saf. Baxor. . . . 1000 Am. Ship Com.. 200;Am. Smelter 200 do pfd eooiAm. Steel Fdy . . . . eoOOIAm. Busar. do pfd Am. fiisraarra Am. Tel. A Tel. . . Am. Tobabeco .-. . do "B Am. Wool . . . do pfd do P. pfd. .-. . Am. Zinc Anaconda And. Oil Atchison do pfd Atl. Gulf W. L 41200IBaldwin Loco. .... I ao ixa 2300Balto. i Ohio rfd Beth. Steel "B" . B. K. T Butte C. Z. . . Butte tc Sup. . . . Caddo Oil Calif. Packing Calif. Pet do pfd 1 200 Canadian Pac. . . . 00 (n. Leather . . . 7100 ('handler Motor. . . 700Chgo. & N. W. . Chicago G. W. . do pfd. 3100:Chile Cop Chinn C. M. & St, P. do pfd. .... i Coca-Cola & O Colo. F. A I. . Colo. South. . . Col. Gas A Elec Col. Graph. Con. Ga -,-Con. Cigars . . . do pfd. .... Contl. Can. . . OonU. Candy . . Corn Prod. do Pfd 4K00Cobden Oil ... 78000. It- I. 00 do "A" 1140o;Crucible 34 H 34 84 tt 84 i et j 22 22 ::::: ::::: 42 41 34 38 'is" 274 '27 "27" 125 125 H 'ion io" 50 H 80 S6 A 80 29 24 23 '88 oo" 4 6 30 70 24 62 42 106 123 122 74 37 26 86 38 '54 "4 'io 64 35 ii2 2S H 43 6,3 4 6 86 70 24 1 41 106 123 121 72 37 86 25 84 37 83 "4 8 63 35 112 25 41 65 500 1300 600 300 500 1200 1500 000 100 pfd.. 11 25 38 34 54 56 4 88 10 is" 38 34 54 66 4 81 100 do pfd i 700 Cuba Cane 500 do pfd. 000 Cuban-Am. Sugar. Del. ft Hud. Dome Mine D. R. G do pfd 2800 Endicott-Johns. 4O0iKne 700 do 1st pfd. .. ... do 2d pfd. . . 8600IFamons Players . . . Fed. Mln. Smelt. do pfd 600 Fisk Tire ........ Gsston wms. Gen. Cigars Gen. Klec Gen. Motor Glen Alden 17000tGen. Asphalt Goodrich Goodyear Granbjr , Great Nor. Ore. . . , Great Nor., pfd. . . Greene Cananea . . Golf States Steel . . Hask Barker .... Houston Oil Hupp Motor Ills. Cent. Inspiration Int. Agr. Corp., e. do pfd. 300 Interboro 600 do pfd. 500 Interstate Callahan POO 5000 1000 1000 000 R00 600 1000 400l 6 0O 800 74 73 24 '24 33 33 77 77 61 60 '8 "S 19 10 13 13 64 13 18 is" 63 13 18 52 10 124 10 37 49 32 75 38 57 50 11 10 i21 87 47 31 75 87 56 SO 11 33 6 4 13 84 84 1 23 - 1 41 33 7 27 33 27 125 107 19 43 4 10 49 1 66 30 23 46 88 103 4 6 t 35 70 24 62 88 42 106 123 121 72. 95 23 8 37 85 80 25 85 95 87 Bl 53 9 4 13 9 63 35 72 112 25 42 65 H 7 16 1 1 25 25 38 34 53 24 35 56 4 87 28 67 41 58 73 103 24 32 77 61 80 8 19 13 100 17 1 63 13 18 13 52 5 22 10 B6V4 122 10 37 48 30 10V 18 28 75 21 37 57 50 11 95 33 7 38 2 6 3 galea. I STOCKS - 1 High. THd. 100 600 1300 2700 800! 2800 200 1000 100! lSOOjlat. Hamster do pfd. ...... Int Merc. Marine. do pfdt ...... Int Mekel ..... Int Paper ..... do pfd. ...... Inrincible Oil ... Island Oil ...... Jewel Tea K. C. Southern. . . I do pfd. ..... 8000 Kelly-Springfield . 300Kenjeoott 500 Keystone Tire ... 100 Lack Steel 200 Lee Tire 2001Lehigh Valley. . . . . . . jLorulard 9 00 'Lowe Theatres.... .. .. L. N.. 70700Mex. Pet 4 00 Miami 2900 Middle States Oil. 160O'Midale Steel IM. K. T ) do pfd. 200Mont Power . . . 300 Moot. Ward . . . . 800Mo. Pacific 9001 do pfd. 300V t St t 600 Sat Enamel Nat Lead 500iNerad Con. SeOO New Haven lOOINorfott W.- . , -I 2 800! Nor. Pacific Nora S. Steel 1 !N. Y. Air Brake. .! 600N. Y. Central 1200Okla. Prod, ref jOntario Silver..... lOOIOrrtario & W (Otis Steel 100Pacific Der Pac Gas it Elec. 1900 (Pacific Oil IMOOiPan. Amn. Pet 65O0Pan. Am. Pet "B" 1500!Penna lOOjPeo. Gas 4 00! Peter Marquette. . . 2 00f Philadelphia Co 2300P. Oil 1200Pierce Arrow 100Pierce Oil Pitta. Coal 100 Pitts. & W. V I do pfd IPressed Steel Car. . 2100jPnllmsn 200Ray Cons 4400Keading lOOIReplogle Steel 4900Republic L & S. . . do pfd Rep. Motors HeoiRojal Dutch Oil. . 300 Ry. Steel Spgs ISaxon Motors 1900 1 Rears Roebuck 200Shattuck, Aris lOOiShell T. t T 11900SincUir 00Stand Oil Cl 78 8 43 13 48 't 26 51 41 19 11 25 13 110 21 12 2 48 18 19 39 9 36 14 95 77 78 8 43 18 4T "7 2 -9 25 51 40 1 11 25 13 106 20 11 25 48 17 19 38 9 35 14 95 76 78 101 8 43 13 47 7 2 23 50 40 19 11 41 25 51 146 13 108 107 20 11 25 2 3 48 Experts of geological' survey estimate copper stocks in United States at be tween 750,000,000 and 1,250,000,000 pounds. 71 1 ii' ' 71 1 'id" ' 35 51 48 88 58 19 29 24 12 6 93 12 70 1100 100 63000 300 6900 800 2600 2400 700 200 800 "700 14200 400 83 3 lOOISloss Shef. 3000 Sou. Pacific. . 900 Sou. By. do pfd. . . St L. tc S. F. Strom berg . .Carb. Ntudebaker Swift tc Co Term. Cop. tc Chem. Texas Oil Texas Pac. Tex. Pacific C. tc O. Tob. Products Tran. Contl. Oil. . Cnion Oil Del ... Union Pac. ...... I United Alloy United Drug L nited Food Prod . ! United Fruit United Rds. of N. J. do pfd 6300 United Retail Stores! 2500 U. S. Ind. Alcohol. . 8000 U. S. Rub.. 200 do 1st pfd Smelting 26400 U. S. Steel 100 do pfd. 1500TJtah Copper .... 100 Va. Chem. 100 do pfd. 2300 Vanadium Steel . . 400Vrrandou 200 Wabash 300 do A pfd. 100 Western Pac . 100 do pfd. Western Cnion . . . Wesonghse K M. West Md. White Motors 700 Wfllys-Oreriand . . . 500 do pfd. . . . . J Wisconsin Central . lOOIWoolworth . . . . f Worthington Pump ...W. L. E. 51' 48 83 '08 6 19 71 38 77 20 23 .1 31 74 "8 35 22 18 67 7 18 120 55" 13 1Q1 34 48 44 38 53 19 29 24 11 6 91 12 69 50 STGCKMASggr At meeting yesterday between federal reserve board and federal reserve ad visory council advisability of further re duction in rediscount rates was considered. Twenty industrials 70.06, off Twenty rails 72.78, off .48. .77. Rails, coppers, utilities, tobaccos and textiles will be bought on a scale down. according to specialists' reports. The general list is looked upon as undergo ing a natural recession which will offer good buying opportunities. 53 46 48 so '79' ' 109 49 46 83 67 6 18 71 88 77 20 '23 I 31 72 "8" 35 22 18 66 7 18 119 19 38 9 35 74 10 14 95 76 24 55 71 1 3 19 9 10 56 34 48 45 38 62 18 29 24 11 6 58 29 74 55 92 12 69 23 50 80 9 47 82 2' 67 34 18 71 37 77 20 46 23 I 31 72T 95 7 35 H Kansas City Southern $498,000 against deficit of year. August $191,000 net last Standard OH Stocks Closing- Bid Anglo 15 Borne ScfTsmeT ........ Buckeye Cheesebrougb do. pfd. ', Continental Crescent Cumberland Eureka . . . , Galena com , do pfd. do pfd Illinois Pipe Indiana Pipe National Transit N. Y. Transit Northern Pipe Ohio Oil 228 International Pete Penn. Mex. Prairie Oil Prairie Pipe Solar Refg Southern Pipe South Penn. Oil S. W. Penn. Oil S. O. Ind. S. O. Kansas O. Kentucky S. O. N. Y. , S. O. Ohio , do pfd Swan . Finch Vacuum Washington S. O. Nebraska Imperial Oil 54 12 107 52 45 47 85 18 66 7 17 119 24 54 12 107 8 18 52 45 47 84 29 77 77 109 109 Bid Asked 15 350 325 350 79 81 145 155 94 97 108 111 . 24 26 .. 115 125 73 76 34 36 86 91 . 83 85 . 150 153 . 74 76 . 24 25 . 145 150 . 85 88 . 228 232 . 10 10 . 18 20 . 435 445 . 182 185 . 340 . 360 . 70 75 . 169 173 . 53 56 . 70 71 . 530 545 . 380 390 321 324 . 360 370 . 108 111 . 30 35 . 240 245 . 23 28 . 145 150 . 84 86 IN STOCK MARKET New York. Sept 20. (L N. a) The stock market closed irregular. Some stocks had a fair recoverd from the low levels but the majority of changes were to lower figures. Mexican Petroleum. after yielding to lOStf, recovered to 107H. a net loss of 2. Steel common closed 54 net lower at 77 4.. Baldwin. after dropping to 84, rallied to 85 The railroad stocks were In supply. Reading falling to 69 while North em Pacific was off 1 point to 7. Studebaker closed 1 point lower at 73. Government bonds, unchanged : rail way and other bonds. Irregular. Total sales today, 529.700 shares bonds, $12,950,000. Gas Company P. P. & L. Show Gain in Earnings While the Portland Gas It Coke com pany shows a gain of 26 per cent in gross earnings In its financial statement for the month ot August compared with the same month, of 1820, the net earn Ings of the company, dua to an increase of SO per cent in operating expenses. show a decrease of per cent compared with the net earnings of the correspond ing year of 1920. The August financial statement of the Pacific Power & Light company, com pared with August 1920, presents a gain of 17 per cent in gross earnings, IS per cent in operating expenses and a gain of 17 per cent in net earings. Banks' Keserve Ratio Bses From 66.2 to 67.5 P. 0. Aggregate gains ot $18,100,000 ot gold and of S3400.00O t other cash reserves. accompanied by reductions of $25400,000 in federal reserve note circulation and of $12,300,000 in deposits, are indicated In the federal reserve board's weekly consolidated bank statement Issued as at close ot business on September It 192L The banks' reserve ratio, in consequence of the above changes, shows a rise from 66.2 to 67.5 per cent Government deposits were $11,500,000 less than the week before, reserve de posits show a decline of $ 1.1 W). 000. while other deposits, composed largely of non- The condensed statement of the two I PACIFIC POWER & LIGHT COMPANY August 1921. Gross earnings $269,702 $229,724 Operating expenses 14 9.073 12.e7 Net earnings 120.629 103.02 n.iiw. after deducting fixed charges 64.137 83.381 PORTLAND GA8 CO& COMPANY New York. Sept 20. L N. S. There was no special feature to the trading on the stock exchange at the orenine: to day, the list being steady and only slightly changed from yesterday's clos ing. TJ. S. Steel moved up to 78 and then reacted to 78. Baldwin Loco, opened up to 88. followed by a quick reaction to 85. Mexican Petroleum first advanced to 110, and then yielded to 109. Gen. Elec declined 1 to 123. The rails were practically neglected. After irregular trading in the first 15 minutes, the market became generally heavy, substantial losses being recorded in many issues. Studebaker fell to 72. a loss of over a point Chandler dropped over 3 points to 41. Baldwin, after dropping to 85, rose to 86. U. S. Steel common ranged fsom 78 to 78. Oil stocks were heavy. Grass earnings Operating expenses Net earnings Balance after deducting fixed charres -August 1921. $250,658 177. 4w 73.159 32.778 1 920. ties. 8 llM.&il 80.344 48.329 Increase. 339.978 22.378 17.401 ie.7 Increase. al.7S 4 8 7.1 15.52 Prt .17 .18 .17 .: rvt 9 .3 Preachers Shown How Oregon Euns " Its Institutions Salem. Sept 10 Twenty ministers, representing the Portland Church fed- -eratlon. are guests of the stale board ot control today. In a tour f inspection et the state Institutions, located la the vi cinity of the state capital. This morning was given over to a visit to the state hospital nr ,De insane, after which the delegation went to the Marlon hotel for luncheon. This after noon the ministers will be taken through the state prison, the Institution- for feeble minded and deaf and girls' train ing school, under the guidance "of R. EL. Good in. secretary of the board of control. The visit grows out of a recent vlat Rev. Ralph C, McAfee, secretary of the" church federation, -following complaint anent the location of the new dots training school, which he found to be un justified. Decrease. Foreign Bond Market 81 8 7 20 6 27 48 30 7 7 20 6 26 49 29 75 H 30 7 7 20 21 60 82 44 9 32 6 27 28 110 39 8 LA GRANDE BUSINESS CHANGE La Grande. Sept 20. J. K. Wright has sold his interest in the La Grande Invest ment company to Sherwood Williams. Mr. Williams some years ago Durchasea the William Sargent interests in the firm and now becomes sole owner of the business, which is one of the largest real ty and Insurance firms in Eastern Ore gon. Mr. Wright will retire from active business. (Furnished by Oerbeck tc Cooke Co., Board of Trade Building.) Bid. Ask. Russian 5Hs. 1921 15. 17 Russian 5s. 1926 4 6 Russian 6 s. 1019 15 17 French 5s, 1931 56 French 4s. 1917 45 46 French 5s. 1920 63 06 Italian 5s, 1918 31 32 British 5s. 1922 373 383 British 5s, 1927 3H4 . 374 British 5s. 1929 32 872 British Tky. 4s 279 289 British ref. 4s 262 272 Belgium rest 5s t:3 Brt Belgium prem. 5s........... 65 - 68 German W. L. 5s 8 8 Berlin 4s 8 9 Hamburg 4s f V 10 Hambnrg 4 Vis 9 i 10 Leipsig 4s 9 10 Leipsig 5s 10 11 Muuich 4s 8 10 Munich 5s 10 11 FTankfort 4s 9 11 Jap 4s 69. 70 Jap 1st 4s 84 85 Jsp 2d 4s 84 V 85 4 Paris sixes 994 100 U. K. 5 Vis. 1921 90 V4 100 U. K. 5 Vis, 1922 98 Vs 98 U. X 5s, 1929 89 90 U. K. 6s. 1937 85 85 Aberdeen's Postal Banks Rank High Aberdeen, Wash., Sept 20. With de posits of $418,949. Aberdeen ranks thirty third among the 132 cities representing every parf of the United States where postal savings deposits are more than $100,000. according to the August report received by Postmaster Garney. Among the cities which Aberdeen surpasses in deposits are Washington, D. C. : Minne apolis, Omaha, Baltimore and Akron, Ohio. SHOET TERM SECURITIES Furnished by Clark. Kendall A Co.; Am. Tel. tc Tel. 6s. October. 1922 Am. Tel r Tel 6s. February, 1924... Am. TeL t Tel. 6s. August 1925 Armour Conr. 7s, July, 1930 Anaconda cop. os. January. 1B-9 Anaconda Cop. 7s, January. 1929 Belgian Got. 6s. January. 1925 Beth. Steel 7s, July, 1922 Beth. Steel 7a. July, 1923 Canadian 5s. April. 1926 Canadian 5s. October. 1931 Cop. F.xp. Assoc, 8sj February. 1 922 . . . Cop. Kip. Assoc 8a, February, 1923.. Cop. Kip. Assoc. 8s. February. 1924... Cop. Kxp. Assoc 8s, February. 1925... Cudahy Packing 7s, July. 1923 Jsp. 1st Kit 4 Vis. February, 1925. . . . Jap. 2d 4 s. July. 1925 Southwestern Bell TeL 7s. April. 1925. . Standard Oil of N. T. 7s. January. 1923 Standard Oil of N. V. 7s. January. 1928 Standard Oil of N. T. 7s. January. 1931 . Swift tc Co. 7s, October. 1925. . U. S. ttubber 7s, December. 1023 U. S. Rubber 7 s, August 1930 Price. 99 99 99" " 95 89 H 95 100 V, 98 93 94 100 101 101 101 99 85 4 85 S 97 97 104 14 99 98 100 New (Furnished York Bond Market by Orerbeck tc Cooke Co.) 4s. FOREIGN EXCHANGE BATES Corrected daily by the foreign exchange de partment of the United States National bank. Quotations below (except the pound sterling) an on the basis of 100 units foreign currency. Opening nominal rates on bank transactions: Draft Cable Par Checks. Transfers. Value. 3.71 $ 3.71 $ 4.866 7.04 7.05 19.30 .94 .94 23.81 4.20 4.21 19.30 Atchison Genl. 4s , Bal. tc Ohio Gold 4s. . Beth. Steel Ref Cent Pacific 1st 4s... bt. Paul Genl. 4 Vis. . . Chicago N. W. Genl 4s New York Ry. 5s Northern Pac. P. L. Reading Genl. 4s. . , Imon Pac. 1st 4s.. U. S. Steel 5s Union Pac. 1st Ref. Southern Pac. Coot. Southern Pac 4k Penna. Con. 4 Via.... Penna. 1 t 4 Vi s Ches. tc Ohio Conr. 5s. Ore. Short Line 4s Mrs. J. B. Colburn are to remain In thej employ of Mr. Beard for the time being. A new confectionery and grocery store is to be opened at once by N. A. McCann of McCoy, in the Cramer building on Main street. Mr. McCann has had his goods and household furniture shipped from McCoy where he owned and oper ated a small general store. HARRISBURG TBABE CHANGES Harrisburg, Or., Sept. 20. Colburn & Son, who recently purchased the store of F. L. Beard, the largest general store In the city, have sold the store back to its former owner. An Inventory of the stock Is ebing taken and on completion Mr. Beard will take over control. Mr. and NEW CREAM STATION OPENS Cathlamet, Wash., Sept 20. The t-uruy tream company nas opened a cream station on Fredricksen's dock, in the office formerly occupied by the Cath lamet canning company. Harold Irving nas Deen installed as manager. Londi Lbs. sterling Paris Francs . Berlin Marks . Genoa Lire . . , Athens Drachmas . . . . 5.00 Copenhagen Kroner 17.60 Christiania m Kroner " 12.60 Stockholm Kroner 21.65 Hongkong Currency 52.85 Japan Ten... 48.10 Shanghai Taels 72.90 5.03 17.65 12.65 21.70 53.10 48.25 73 20 19.30 26.70 26.70 26.70 Canadian dollar discount 1 1 per cent Liberty Bond Sales (Reported by Orerbeck & Cooke Co.) TUfnrtk ttion 60 not iva V. o .... tested In India by lead pencil makers. I victory'. 3s Hiffh. Low. Liberty. 3 8800 8774 Liberty, lst4s Liberty. 2d 4s 8930 8900 Liberty, 1st 4 s 8040 8910 Liberty, 2d 4s 8942 8918 Uiberty, Sd 4 Vis 9306 9302 Liberty, 4th 4s 8958 8036 9914 9906 9914 9906 Close. 8706 8970 8920 8918 8930 9292 8950 9912 5s. , 5s. . Bid. Ask. 78 78 70 71 86 86 86 86 64 Vi 65 Vi 77 77 20 22 78 78 76i 77 82 V 83 94 Vi 95 94 95 92 94 83 83 86 87 81 81 83 84 86 86 NEW CORPORATIONS members' clearing accounts and cashier's checks, show a nominal Increase. Total gold reserves on September 14 were $2,(84.500,000, Indicating a gain since January 1 of $611,700,000. against a loss of $40,900,000 In other cash reserves. L e., silver and legaia. POI5DEXTEB TO PAY YISIT Aberdeen, Wash.. Sept 20. Senator Miles Poindexter will be on Grays Har bor Wednesday, the guert of Hoqulam business men during the day and of Aberdeen business men In the evening. Federal Dry Law Conference Held Salem. Sept 20. Cooperation of county and state officials in the enforcement of prohibition ls was sought by Ir. J. A. Lin vi lie, newly appointed federal prohibition enforcement officer for Ore gon. In a conference with sheriffs of Marion. Clackamas. YamhilL Polk and Tillamook counties here Monday after noon. Dr. Linvttle was accompanied by his legal advisor. V. B. Mitchell, who pointed out certain conflicts between state and federal laws, which, he ex plained, must be guarded against until the questions involved had been defi nitely determined by legal process. Salem, Or.. Sept 20. The Motograph Manufacturing company of Portland. capitalized at $30,000. filed articles of incorporation with the state corpora tion department here Monday. The in corporators are Albert K. Coe, Joel H. Coe and M. C. Tipton. Other corporations filing articles mere: Paper Dealers' Credit association. Portland: $1000: T. C. Wadsworth. O. Mlddleton. J. W. P. McFall. Joseph K. Reilly and E. E. Carr. Lester Wade. Inc., Condon, Gilliam county: $10,000; lister Wade, Lucille Wade and T. G. Johnson. Robinson Music Publishing company, Klamath Falls: $15,000; Frank B. Rob inson. A- L. Wishard and W. C. Van Emon. International club. Portland ; $500 : George Georpeu. Gus Keramidoa and Peter Apostotidos. The City Public Meat Market com pany, Portland; $10,000; George Andros, Anna Champanis Calley and George Champanis Calley. PACIFIC COAST BANK STATEMENT Peril and Banks Clearings This Week Tear Ago Monday $ 6,872.279.92 $ 6.060,279.92 Tuesday ... 6.839.014.56 Taooma Banks Clearings Tuesday $ Balances Tuesday Spokane Banks Clearings Tuesday $ Balance. Tuesday Seattle Banks Clearings Tuesday $ Balances Tuesday Oakland Banks Clearings Tuesday $ 1,956,000.00 San Francisco Banks Clearings Tuesday $22,100,000.00 Los Angeles Banks Clearings Tuesday $14,047,028.00 7.415.228.58 683.742.00 83.355.00 1,938,111.00 677.609.00 5.521.585.00 1.064,482.00 City of Boise. Idaho School District 6 Bonds Dated July 1. 1921 Dua July 1. 1931 Denomination SI 000 Pries 100. Yielding 6 Port of Portland Gold Bonds Dated July 1, 1921 Due July 1. 1926 Denominate $500. SI 000 Prico 101.50 and Interest Wire Orders Collect P 8UB ullaiil Ralph Schneelqch Company M - MUNICIPAL AND CORPORATION FINANCE ' LUMBLRMENS BUILDING Portland. Qheoon. New Jersey Man to Be Danish Minister Washington, Sept 20. (U. P.) Dr. John D. Prince of New Jersey has been selected by President Harding as Amer ican minister to Denmark, it was 9912 nounced at the White House today. an- Portland Vegetable Mills Company Under our plan of offering our capital stock direct from Company to subscriber, it is impossible for us to reach all who desire to subscribe. We wish to give everyone an opportunity to join us while we still have stock for sale. The bulk of our stock has been subscribed. 10-year Bonds At 101.50 and interest. Details on request "MAIL THIS COrPOS""" Freeman Smith ft Camp Co., Portland, Or. Please send me. details of Portland bonds. Name of your City Address Standards The bond-purcbisint policy of this bank is that its offer- " ingi must meet the most rijid standards standards con forming: with those upon which Its very reputation his been built through a period of more than three-score years. Such a policy is a reliable julde-post to the safe and profitable investment of your funds. Feel free to consult us on your investment matters. Open 8:30 to 5 Saturdays 8 JO lo 2 BOND DEPARTMENT LABB & TELTON BANK Oldest in the Northwest at Third Washington Fill out the following stock subscription blank for the number of shares you wish, and mail to the undersigned with your check for 25 of your subscription as per the terms contained in the subscription blank. H. H. Ward, Director in Charge of Financing Office: 805-806 Wilcox Bldg. Portland, Oregon Slocks, Bonds, (jottoa. Grain, Etc. nSIS-317 Board ifi Trad Building Overbeck&CookeCo. tilRECT PRIVATE WIRES ' TO ALL EXCHANGES Heater Ckksge Board ef - Trade Authorized Capital Slock f l,iM,0a.t PORTLAND VEGETABLE OIL MILLS CO. &;- Wilcox Bldg. Phone Marshall $93 PORTLAND, OBEGOS SrBSCKIPTIOX TO CAPITAL STOCK 1MM shares ef tlM.M Each I hereby subscribe for shares of the Capital Stock of the Portland Vegetable OU Mills (Write Out Number) Co.. a corporation organised under the laws of the State of Oregon, and agree to pay to the Treasurer of said corporation at Portland Oregon. One Hundred (1100.00) Pollers for each of such shares in installments as follows: Twenty-five per cent (25) of said purchase price tendered herewith, the balance at the rate of twenty-five per cent (25) per month as called by the Board of Directors of said cor poration. - PROVIDED, That the said Board of Directors may accept this subscription as made, or may accept the same for a less number of -shares than subscribed for, or may reject the same entirely; that this subscription shall become an enforceable contract In whole or In part as and when such acceptance may be endorsed hereon by the Treasurer or other officer designated by said Board' of Directors; that installment payments shall be acknowledged by the receipts of said Treasurer, and a certificate of stock issued only upon final payment hereunder. Dated at INDORSEMENT OF ACCEPTANCE The above subscription Is hereby accepted as to..... .this. day of : , U2L (Write Out Number) shares this .......... day Subscriber. of 1531. Treasurer. Subscriber's Complete Address. i Portland's Coming Industrial Center and Water Front VANCOUVER V K3 3 V2lJJJJlJl. r' "yy. St JJlLlJLJl JUJJJJJJ JJJJ. -I J- 2fe V ju. j-jj. i jj. I J J. I J J-JJ J. JJJ4P.J.LJJJJJ. Peninsula Drainage District No, 2 $2700 6 Gold Bonds Priced to Yield 7 '"PHIS splendid district of 1487 acres lies directly east of the Stockyards and Swift packinf plant". It fronts on Oregon Slough, the net point of Portland's waterfront development. Every acre is susceptible to development either for industrial uses, truck gardening or dairying. None is for sale under f 500 an acre. Waterfrontace now is rained t JtSoo an acre. V TONEY from these bonds is being ued to COM V PLETE THE DISTRICTS DIKING SYSTEM, making every acre available the year 'round. District is tapped by railway lines and i orn to water traffic. Bonds are supported by TAXATION. Are income tax ixempt; are legal investments for savings r-ank lands and trust funds. Dens. 500. Bondj due serially I926-J6. Broadway and Oak LU1V1BERMENS Phone Broadway 4186 ef Legaa Bryan aew Tera f 1 Cerrsoadeats Chicago