10
THE f OREGON DAILY JOURNAL; PORTLAND. OREGON
WEDNESDAY. NOVEMBER 9. 122L
AV
mm
TO BE DISCUSSED
ATPARLEYSHOWN
, I V By aria lawrraev)
' (OvrricM, l3t. br Tha juntl),
' . Washington. Not. sV Back of the
Wcnf wbr Uve American Mtral pro
f ram U bslrif mapped out for presenta
tion at tha conference on limitation of
armament, there's an Interesting dlacua
lon roinf on as to the value of battle
cruiser Can the United States afford
to let Japan eice! In this typ of yessel
which over since the battle of Jutland
bar stirred up naval critics? There are
two schools of thought, those who be
lieve the battleship is the craft that must
eventually bear the brunt of a- sea stror
irls and Ummm who believe that without
1 battle cruisers the Vnlted States cannot
. fcnpe to compete with Japan In the Ta
rifle.
has ntx uriinmo
' The truth Is. the United States has
ft! .battle cruisers building and would
enter the comlnc conference with much
mere ease of mind If thexe vessels were
I read In commission. For many yesrs
the movement for- reduction of armament
bas suffered because the leading pow
ers did not wish to place themselves on
an Inferior basis. The present tendency
of the powers Is to preserve the ratio of
strength that exists.. but to cut down the
srpense of useless ships, that ,ls. ships
Which would be useless If everybody
agreed to dispose of auxiliary craft, now
out of date.
IS J AT A 8TK05GER
,.- ' Is Japan stronger than the United
.States on these? The actual statistics
would Seem to show the United States
- as superior, but the naval experts are
skeptical. They say the battle of Jut
land revolutionised everything and that
. the battle cruiser is vital. Of course the
United States Is weak In that direction
though opinion may differ as to whether
the weakness could be overcome by the
preponderance of battleships. Anyway,
' It Is essential. In order to know Just
' what the naval experts are talking
about, to study the official figures glv
' Ing the latest authentic information as
to the strength of the leading naval pow
-. ers. Here they are :
- O. B J. R. Jsp. Fr. U J
BetUtonlpa, 1st Una. built 2 IS 7
. Fin line. baiMins 0 T O
fcettlealiipe, serend tin 13 4 7
Bat, rreis. 1st Mm. built S 0 4 0
tint line, baikltnc ... 4 S ft 0
Bat erutaera, ra4 11ns 4 0 0 0
IJet enrisei. tint line 3 0 0 0
Svnad line .... 4 10 B It
By examining the foregoing table
Destroyers and submarines 7000
miles from homo are not as effective
as those with a base 100 miles away. .
Japan has come out with a flat state-
meat that she wants her navy to be
equal the dime of any fleet bow; in the
Pacific. On the . surface, that seems
a radical statement, but she has prac
tically reached American naval strength
now on .the battle cruiser program. -LEADS
IJT BATTLESHIPS .
As for battleships,' the United States
bas a total of 27 . as compared with
Japan's II, but the United States, does
not keep all lis battleships in the- Pa
ri flc Also the Japanese have built the
Nagato." which Is the largest and
most powerful battleship afloat . and
more effective than anything the United
mates nas compieieu. a sister ship, the
"MiUu, Is about to be launched. Bot
vessels mount It-inch guns. The United
States has some under construction of
a similar clans.
Where shall the race stop? The offi
cial .figures just available also 'show
mat out of a total national expendi
ture ureal Britain is spending 8ft per
cent on naval armament, while' the
United States is spending 12 per cent.
France 1 per tent. Italy 1 per cent
and Japan 32 per cent. Limitation of
expense is the objective. With these
per cents staring them In the face.
American naval experts know they must
present a radical program to satisfy
American opinion. They would like to
do so and still keep the battle cruisers.
So the answer to the problem is not yet
Insight - '
VOTERS IN DAYTON
BACKBOND ISSUES
Dayton, Or., "Kov. 9. Two bond issues
were approved and a new city adminis
tration was chosen In an election-here
Tuesday. R. L. Harris was elected
mayor ; W. T. H. Tucker, recorder ; J.
L, Stuart, treasurer; T. A. Boulden,
D. A. Snyder and O. C. Goodrich, coun
cil men for one year, and J. S. Morln,
W. 8. Hilbert and M. Q Miller, coun
oilmen for two years. Bonds of S4000
for a new reservoir and water system
betterments won by a vote of 130 to 27
and $3000 bonds to care tor floating in'
debtedness won 118 to 38.
APPEAL MAY HALT
MORRIS BROTHERS
The protesting appeal of various mi
nority creditors of the Morris Brothers
bankrupt bond house, filed today. In the
federal court by their attorneys. Ridge-
way St Johnson, representing one group
and by Carey st Kerr, representing the
other group. Will have the effect of de
laying the confirmation of the sale by
the trustee, even If it should - not over
turn it
Rldgeway A Johnson represent H. E.
Cherry and i. 8. Cameron; Carey A
Kerr appear for T. M. Stiver, the First
National Bank of Everett, Wash. ; John
Walton, H. D. Haskins H. la, Stokes
and several others. The claims range
from $1000 to $5000 each;
The protesting creditors, who have
filed their application for a review of
the order of A. M. Cannon referee in
bankruptcy, confirming the sale of the
bankrupt's assets to the Morris Broth
ers corporation, have joined their forces
in the appeal to the federal court They
contend that the contract .or offer pre
sented by Morris Brothers corporation
and accented by the trustee and the
referee does not constitute a sale but is.
in fact, an attempt to compromise, be
tween two factions of creditors without
the consent of the minority group. They
point out that under the offer of the
majority no cash is to be paid at the
time of the transfer of the assets from
the hands of the trustee to the new cor
poration, but that the claims of the
minority are to be paid out of the fu
ture Bale of the assets.
Referee Cannon expects to be able to
have the record of the 'case prepared
for submission to the federal court late
today or Thursday. The attorneys in
terested have agreed to ask for a hear
ing at the earliest date that can be set
by the court Pending the arguments be
fore the court and its decision, no fur
ther progress can be made by the Mor
ris Brothers corporation towards the re
sumption of business planned by it
petroleum: shares slide . upward , in new .".'.york: trading
STANDARD OIL IN
AN UPWARD SWING
WilII Street Journal Financial Review
New Tortt. Sot. . (C P.) Tbn stock
market in eeneral showed a good tone ia early
trading today. -Among the tesiores is oil wen
Houston, up 1 points at 78 Vi, and Horal
Dotes up 1H -points at 49 . Pacific Oa held
around Monday's nich.
Steel common led the steels , us at 81.
tJ. 8. Robber ins fractionall! Jovrer. bat Kettj
Bprincfietd ' acted better, and made aa early
nich at 4014. no net :
Standard Oil stocks vera the feetare Umnicn-
oct the first boor: Standard Oil of Mew Jersey
made a nr hies above ISO, and Stasda.nl Oil
of California tamed 86. The advance a
finally extended to other oils, most ot which cot
claim to the high prices of the- last 10 days.
Steel stocks held tux
Professionals who sold Mexican Fetroleoxa
when it made a double top at 109V4 oa Mon
day, but failed to to through that day and bars
been. selling it ever since, received a shock De
fers noon when bis baying orders suddenly ap
peared and shot the stock from 106 to
110 K within s tew minutes. It was oua of the
most impressive morts Mexican Petroleum has
had had in many months.
Baldwin touched - in the general upturn In
the marked
It was a bad day for the bear crowd on the
New York Stock exchange. Cnder the leadership
of Mexican Petroleum the whole list was si Ten
ka whirl which carried most stacks to new hign
prices for the fall In fact, a number of issues
made new highs for the year. The turnover
for Mexican Petroleum was the highest in man;
weeks.
The stock was made to appear heary in
early dealings and sold down nearly 3 points
from the high of Monday. Then the bis buy
ing orders suddenly made their appearance and it
shot through the recent high of 109 V The
stock hesitated around 112, but during the hut
hour got into new high ground.
Baldwin ranked next to Mexican Petroleum in
the rapidity of its advance, which is probably
due to the fact that the big short selling or
the last few-weeks has been in Mexican Petro
leum and Baldwin. Another, advance in crude
oil prices by the Tekas company helped all the
American oil shares. 8teel stocks were .lead by
Steel common, which sold at the highest price
since the break to 7014. Crucible was the
feature of the independents.
The sharp advance in stocks today took traders
by surprise.
WALL STREET QUOTATIONS
Furnished by Overbeck: A. Cooke) Co, Board of Trad Building;
will b sn that Japan has already In
' commission four cruisers which, while
of ths pre-Jutland-type), ara considered
an invaluable asset in ths Pacific. The
cruiser type of vessel, being much faster
than the battleship, can tret Information
and draw out enemy vessels and do a
whole lot of damise in preliminary wsy.
SIXfUaB TO AMERICA
Ths Japanese battle cruisers which
ara under construction are similar to the
American typea Japsn. however, is
bulldlnir eight and ths United States
only slit, so that Japan with a total of
" II battle cruisers, would have virtually
double ths strength of the United States.
. assumlnir, of course, that the viewpoint
of ths experts who place complete faith,
la ths battls cruiser Is accepted.
Certainly, there Is uneasiness in of
ficial circles .about it Out of the six
oatue cruisers autnoriseo. lour are
well alone, but the naval experts Insist
that any program of. reduction ought
pot to Interfere with the opportunity of
ins united states to place herself at
least on an equal footing- with Japan In
mo matter or battle crulsera
..AHEAD IX DESTB0YEB9
, With respect to destroyers and sub
marines ths Vnlted Statea in far Ahad
of Japan, but the -difference (n num
bers means very little in the theoretical
Diua rougni in Far Eastern waters
wners japan possesses so many naval
SIGHT MARSHAL PROJECT
SUPPORTERS ABE CH0SE5
Gresham, N6v. 9. Two candidates fa
voring the employment of a night mar
shal and one non-committal candidate
were chosen for the Gresham council at
n election Tuesday. A. F. Ham mar,
contractor, ana T. K. Howitt ot a Fort-
land ' commission house were reelected.
Both favor a marshal. C. L Raker, -a
garage man, was elected with era t pledge.
The election was hotly contested. More
than 300 ballots were cast.
Three Arrested
For Violation of
Fire Regulations
Julfus Meier, George W. Joseph and
C. H. Farrington were arrested Tuesday
night on warrants sworn out by Cap
tain Day and Lieutenant Pullen of the
fire marshal's office, on charges of main
taining a fire hazard. An additional
warrant was sworn out for the arrest
of Dr. Andrew C. Smith, who is out of
the city.
The four men are interested In a build
ing on the northwest corneV of Sixth
and Burnside streets, which the fire
marshal says has been condemned and
is unsafe as a rooming' house. The
three men under arrest were released
on their own recognizance pending a
hearing before Municipal Judge Ross-man.
TEXT Lt TRAD NG
1
E
FAVORABLE
Woman Elephant
Trainer Arrested
For. Killing Fiance
Everett, Wash., Nov. 9. (TJ. P.) A
small, powder-rimmed puncture in the
back of Gus Danielson, wealthy' lumber
man, has caused the arrest of Mrs.
Bertha Wilkes, elephant trainer with
the Sells-Floto circus, on a charge of
first degreo murder.
Prosecuting Attorney Stiger will con
tend that the bullet couldn't have pene
trated Danielson's Back had the revolver
been in bis own hand.
Danielson was killed Sunday night In
a scuffle with Mrs. Wilkes, whom he
wished to marry. The woman contended
that Danielson had been drinking and
that the pistol with which he had been
threatening her was accidentally dis
charged. Prosecutor Stiger will contend that
Dalelson was shot to obtain his life In
surance and Dronertv owned bv him In
Sweden. All of Danielson's estate. Stl- A natent has been granted, for a hand
ger declared, was willed to Mrs. Wilkes J truck with adjustable braces that en-
and her daughter, Treva Pote.
Reds' Revolt in
Southwest Russia
London. Nov. 9. (L N. S.) Cecil
Harmsworth. under secretary of state
for foreign affairs, told the house of
commons today that the government had
been informed that an anti-Bolshevist
revolution haS broken out In Southwest
Russia.
Dispatches to the International News
Service) yesterday said a number of cities
In Ukraine had revolted from Bolshevik
rule.
able it to be used as a step ladder.
In view of the tendency of time money toward
lower levels we recommend for investment:
Government of the Argentine Nation
Two-Year 7 Treasury Gold Notes
Totid Issue $50,000,000
Dated October 1, 1921 , Due October 1, 1923
Interest payable April 1 and October 1 -
Principal n4 interest payable in United States gold dollars in New York at the offices of
THE CHASE NATIONAL BANK AND BLAIR & CO., Inc
Coupon Notes in the denomination of $1,000
Exempt from all present or future Argentine taxes
i
DIRECT OBLIGATION: These Notes are to be the direct obligation of the
Argentine Government, whose credit ranks as high as that of any otiber
country of South America.
NATIONAL FUNDED DEBT: We are advised that the national funded
debt, both external and internal, on'December 31, 1920, was approximately
$533,000,000, equal to about $63 per capita.
PURPOSE OF ISSUE: We are advised that the present issue will be
utiliiejd to pay the Bank of the Argentine Nation f6r advances made to
the Government.
GOLD RESERVE: Recent published figures show a total of approximately
$463,000,000 gold held against notes in circulation, representing a ratio
of about 80 and indicating that Argentine currency is one of the sound
est in the world.
Price 99 and Interest, to Yield Over 7.20
Delivery may be made either in the form of temporary notes or interim
receipts .
, - s
Bond & Goodwin & Tucker. Inc.
i Ths statements contained In this .advertisement are based on information obtained partly by cable
i . from official and other sources. While not guaranteed, we believ them to be reliable.
Boston, Not. 0. The trend of trads at the
Boston Textile show is taken by cotton and
woolen manufacturers to indicate that business
is coming back to normal. Buyers at the
show limited their purchases to actual ro
Quireroeuts but these seem to be increasing- mar
tenally.
Jew Bedford. Mass., Not. 9. The yarn
market here hare been slow for the last 10
days. Yarn consumers still are waiting de-
Telopment of the eood trade before atockine
up heavily on yams. The new style flexible
collars for men haTe increased the demand for
the finer combed yarns.
Lille. France. Not. 9. The remainder of
the textile workers who hare been on strike for
weeks in the Turcoine and Koubaix districts haTe
returned to work. At one time 70,000 operatires
were out, but about 40 per cent had Tetumed
recently. They struck for increased pay. j
CARPETS
New Tork, Not. 9. Several large carpet
manufacturers announced the prices for sprine
floor coTerincs today. In general there was not
a very startling change in the quotations but
the trend of prices was downward.
Duluth, Not. 9. The Klearflax Linen Rug
company, which has been idle since last spring,
resumed operations today with a force' ot 160
workers on an eight hour shift. A second eight
hour shift will be started in a few weeks. There
has been a decided improvement in demand for
rugs, the officials of" the company say.
COAL
Altoona, Pa.. Not. 9. Central Pennsylvania
coal operators report an increased demand for
fuel. For the week to October 14 production
reached 44.000 cars, against 37,000 for the
same period in September. Complete figures
for October are expected to show a total of
77,000 cars.
New Tork, Not. 9. The business in bitum
inous coal, which had 'a !iht slump when the
rail strike ras called off, has neun to recover
again. Business in coal for export Is extreme;
quiet Dealers haTe an ample Bayply of an
thracite on hand to care for domestic demands.
STEEL
Canonsbnrg. Pa. Not. 9. The Canonsburz
Tin plate company is operating at 100 per cent
capacity, this week with 24 mills in operation.
The Canonsbnrg Steel and Iron Works hare part
of the plant in operation and the Fort Pitt
Bridge company is under normal production.
Atlanta, ot. . The demand for wire fab
ric wire products has increased materially
throughout the south. This is attributed to
the increased purchasing power ot farmers at
present cotton prices.
COCA BEANS
New York. Not. 9. The creater cart of the
distributors of coca beans- are going very slow
at present. Prices, howerer, continue on an
attractive basis.
FURNITURE
San Francisco, Not. 9. The demand for fur
niture has been stimulated by vigorous selling
campaigns on the part of dealers .and manufac
turers and trade is improTing.
LIVESTOCK
Fort Worth, Not. 9. Cattle trading has be
come brisk among ranchmen despite the contin
ued drop in prices. One Tom Green county
ranchman has just purchased 10,000 lambs at
from S2.50 to J3.0O a head. Prices for cows
are about S2. a bead when taaken in large lota.
SUGAR
New Tort. Not. 9. As the new crop of mo
lasses is only a few days off, the molasses mar
ket here is marking time with little feature to
the trading, which consists of odd lot buying
for current wants.
RICE
Ban Francisco, Not. 9. The rice harvest to
progressing favorably and is well advanced. Ex
port o em ana nas Deen Heavy and prices are
I amy steady.
POTTERY
Canonsbnrg. Pa-. Not. . The Canonsbnrg
Pottery gcompany and the S. W. 8. George Pot
tery company are operating their plants here on
a iive-osy a wees Dasu.
TOYS
Boston. N or. fi. Three . thousand tnn at
German toys for the holiday trade hare just been
unloaded at this port from steamshirja from
Germany. It is understood here that a large
shipment of German goods also has been re
ceived at Philadelphia.
COFFEE
New York, Not. 9. The bull movement on
the coffee market, which has placed some grades
and deliveries in new high ground, has also v
siilted in more widely increased outside inquiry.
Fort Worth," Not. 9. Reports from wholesale
a rug nouses tnrongnout the southwest show prom
ise of greatly improved business conditions in
the immediate future.
MILK
Pittsburg. Not. 9. Milk in this city during
November will remain at 8 H cents a pint and
14 cents s quart, retail.
PRODUCE
New York. Not. B.--The receints of CaHfArnU
vegetables at this market have been unusually
heary this week and only high freight rates pre
vent large supplies of fresh Pacific coast Vege
tables from stocking it ha market.
Stock "
Advance RuidiTTTTT
Agr. Chess. .
do rfd. ........
Ajax , Rubber ......
, Goad........
Alaska, Janes .....
Allied Chem.
Aibs-Chalmara -. ...
ds sfd.
Am. Seat Sugar
aaa. juscn v.
Am. Can Co.
ao ntd.
Am. Car. Fdy
W MI1. ..........
Am. Cotton Oil
- do pf d. ..........
Am. Drag Synd.
Asa. Bide ft Leather . . .
do pfd.
On. Ice
Am. IntL Corp. ......
Am. Linseed .........
do pfd.
Oa. Locomotive ......
do pfd.
Am. Safety Rasor
Am. Ship 4k Comre. . . .
Am. Smelter .........
do pfd.
Ant. Steel Fdy........
Am. Sugar ..........
do pfd.
Am. Sumatra ..... w . .
Am. Tel. Tel.....4.
Ant. Tobacco ........
Am. Tobaoco "B"
Am. Wool
Am. W. P. pfd
Anaconda . . .
Aasd Oil ,
Atchison .
do pfd.
Atlantic Coast Line . . ,
AU. Gulf k. W. I
Baldwin Loco.
do . pfd.
Balto. ie Ohio
do pfd.
Beth Steel "B"
B. B. T
Butte 4c Sup .,
Burns Bros.
Caddo Oil
CaMf. Packing
Calif. Pet.
do pfd ,
Canadian Pac. . . .
Cen. Leather .
Cerro de Pasco
Chandler Motor
Chicago 4k N. W
Chicago Gt. West. . . .
do pfd.
Chili Copper .
Chino
C. at k St P
do pfd.
Coca Cola
C. ft O.
Colo. V. ft I
Colo Southern
CoL Gaa ft Elee
Columbia Graph. ....
Con. Gas
Cons. Cigars .......
Contl. Can
Corn Prod.
do pfd. . . .
Cosden - Oil
a R. L ft P
do A pfd
i do B pfd
Crucible
do pfd.
Cubs Cane
do pfd.
Cuban Amn. Sugar. . .
Del. & Hudson
Dome Mines
Del. ft Lack :
Kndicott Johnson . . . .
Erie
do 1 st pfd. .
dd 2d pfd.
Famous Players
Fed. Ming, ft Smelt. . .
ao pfd.
Fisk Tire
Gaston Wma.
Gen. Cigars
Gen. Elec . ,
Gen. Motors
Glen Alden
Gen. Asphalt
Goodrich
Goodyear
Graziby
Great Nor. Ore . . .
Great Nor. pfd. . . .
Greene Cananea . .
Gulf . 8teel
Hask Barker
Houston Oil
Hupp Motor . . . . .
Illinois Cent,
Inspiration
Int. Agr. Corn, c. .
do pfd.
Interboro -
do pfd.
Interstate Callahan
Int. Harvester
do pfd.
Int. Merc Marine .
High. 1 Low. I Bat.
20
4
as
81
si"
IS
43
51
4Q
is"
30
110
127
124
24'
43
30
94
8
1B
4
33
SO -
82
18
41
3S
6
S
'28
33
109
128
133
24
42
29
80
8
13
71
44
115
29
31
47
12
25
23
37
39
55
24
38
's
94
12
70
43
114
28
30
4
12
25
23
.
89
54
24
37
"s'
82
83
83
80
8
19
104
18
109
72
12
17
185
12
84
32
75
T4
78
11
36"
78
Stock '
32
32
79
7
18
102
18
108
70
12
17
133
11
62
31
73
73
77
10
85
78
1
so :
f
20
H
4
33
SO
2T
82
31
8
133
113
19
43
3
10
81
6
88
25
50
93
10
4
6
8
84
29
35
82
88
110
129
124
77
3
43
9
8
82
84
80
93
99
37
51
6r
. 8
13
111
18
70
43
80
114
29
80
.47
68
8
16
12
25
23
38
39
55
24
38
3
2
94
24
46
88
109
83
32
79
69
65
85
7
19
14
102
18
108
71
12
17
12
64
5
26
10
60
135
11
42
64
81
10
20
32
74
22
88
73
77
11,
96
35
7
87
1
5
4
78
10
1
0
do cfd.
Int. N'irAd
Int. Papec
Invincible Oil c.
Jewel Tesv 4... .......,
K. C Southern. ........
do Pfd.
Kally-Sprint-iieid .......
Kenaecoti
Keystone Tire
imcK Buei .i. ........
Lew Tire.............
Lehigh vaBej.........
LoriOarrl
Theatres ........
Maraud Oil
alea. Fat.
Miami .
Middle States Oa......
W id vale Steel ........
M. K. ft T
do pfd. ............
Moot. Power
Mont Want
Mo. Pacific
do pfd.
M. St P.- ft. 8. Si M . . . .
Nor. Amn. ...........
Nat Biscuit
Nat Enamel .........
Nat Lead
Nevada Cos. .........
New Haven ..........
Norfolk ft W
Nor. Pacific
Nova Scotia Steel
N. Y. Air Brake
N. Y Central
Ok la. Prod. rei...
Ontario Silver
Ontario ft W
Pacific Dev
Pan. Gas ft Elec-
Punts Allegro
Pacific Oil . . . j .
Pan. Am. Pet
- do B pfd.
Penna. ..............
People Gas
Fere Marquette .......
Pure Oil ,
Phillips Pete ,
Pwrce-Arrow
Puree Oil
Pits. Coal . ,
Pitts, ft West Vs. ....
Pressed Steel Car
Ray Cons
Reading
Remington ,
Replogle Steel
Republic L ft S
do pfd.
Bep. Motors . . ....
Royal Dutch Oil
R). Steel Spg
Saxon Motors
Sears Roebttck .......
Shattuck, aril
Shell T. ft T
Sinclair
Sloss Shef
Southern Pacific
Southern Railway ....
do pfd
St. L. ft 8. F
Stromberg Carb
Srudebaker
Swift ft Co.
Tenn. Cop. ft Chem. . .
Texas Oil
Texas Pacific
Texas Pacific C. ft O . .
Tobaoco Products,
Tran. CqpU. Oil
Union Oil DeL
I'nioTi Pacific
United Alloy
United Drug .
United Food Prod.
United Fruit
I'Dited RouU ot N. J. .
do pfd.
United Retail Stores . .
U. S Ind. Alcohol
U.' 8. Rubber
do 1st pfd.
U. S. Smelting
U. S. Steel
do jM
Utah .Copper
Vinrinia chemical
do pfd.
Vanadium Steel .
ViTandou
Wabash !
do A pfd.
do B pfd.
Western Pacific
do pfd. . v ...... .
Western Union
Westinghouae K. ft M. .
West Maryland
White Motors
Willys-Overland
do pfd.
Wilson Packing
Wisconsin Central . . . .
Woolworth
Wortbington Pump . . . ,
W. ft L. E
White Oa
Hirh-
50
13
33
iin
8
12
23
49
IS
2
iik"
n
24
23
10
43
28
33
143 -
28
118
:s
14
"i
s
is'
6
40
40
77
13
96
79
20
ii
5
29
46
48
45
36
37
S6
ii
23
S
40
27
64
141
26
106
22
14
1
2
is'
Bit
61
18
71
61
S
7
50
87
40
46
T7
12
94
78
20
3
ii'
64
8
45
46
44
S3
56
SS
14
60
13
69
50
82
6
49
87
23
79
19
44
81
73
43
24
28
60
9
20
123
68
50
49
87
32
S3
'56'
27
32
7
20
87
46
39
6
125
41
13
13
36
23
78
19
43
31
74
48
22
28
59
9
20
21
67
48
47"
86
82
80
55
26
31
j-
20
85
46
39
6
124
40
12
12
39
13
33
83
10
3
11
24
66
43
23
10
41
27
56
141
14
28
118
33
14
23
1
2
62
18
18
43
68
40
123
40
T7
12
13
93
7
20
54
73
3
4
19
S
65
28
46
48
45
86
36
18
86
80
14
6
59
23
61
18
71
24
21
51
83
TH
50
83
2
68
6
86
23
38
79
19
44
28
31
75
99
8
44
23
27
60
9
20
123
23
66
11
119
7
20
50
45
49
86
82
82
110
55
26
70
82
T
7
20
13
19
56
87
46
9
38
30
31
28
3
BOY SCOUTS WILL
111
mm rnn Tun rr
(umvrun inntri
PHILADELPHIA IS
On taowaasd Boy ScoaUs. beaded y ssect
utats, win - visit tbs Stats bask at. Fifth
sad Stark streets SMarday. Scout Thrift day.
tuts xaay win shows u work lags at s
saodera bask by-. 1 tries uaiawlliis aa
Pnaidewt Walker. Tire president X. T. G
U and Mayn&rd Hedaond: Caahlae Rawfc r.
trnwes asta saaawai iuoobbb. arr
and head of the iaveaile departaaeat
Last year, prior to the oonsolidattoa of tbs
State and Peoples beaks. Bore . than 1200
Sonata were entertained r ths Peoples bank,
at which tirse the hank i seen lad the srs
with piss. This year e-rj Scoot who paxtk
pates in ths esercisei will be gives sa srOcls
lor ha seoast kit
Seoatmasters report that more than 1406
scouts bow have as vines seeouts and for thai
Fianiin the various eaapa are prepanns aavinas
atsnU. to enooarage those who are not slrsailj
thrifty in ths gaans of making "money make
moaey, as the boy are looting forward to t
pleasant 'day.
. New York. Nee. . Retail drygooda mer
chants are still Tiewing the holiday trade with
considers bio uncertainty bat with a good deal of
hope. The general trend, they any. win be
toward ths purchaos of gifts ot a osefal naatra
rather than toward preeeata of a teas atUitariaa
type, oxoent in the ease of presents for chil
dren. This, they inornate, will reaalt la less
exvnsive spending than has been the ease ia re
cent yearn. Better haying has marked ths fall
season that tar. .
here. Ahhoagh iadrvidasl . 1
foe. hows saaks ha s 1
a the mat weak, flsssrln - , i
rUsdejpsia. Nor. 9. There It yisaty ''if .
ia tidsaoe here. Ahhoagh iadrvidasl .
of tha drarux-
enned I5.900.OOO ta tha
batisew Hash of that
chaasa of ths aew United Rt&iM naan
tmcatss and tha saw hwaa at city Voada
Hoeaa tafidevs are Veins helped oat Vy Swftw
vaOdrns and loaa amm lauoea a thas crl-V. ansa
of which have a earHtal mt 31.0O6.0OS.
torn asaww or oauaing permits hsaii be
so tar this year ara weO ta adraara ef tha
total fas tha entire year ef 1926 by (T.66S IIS.
dwa as ehsapar labor aad ataleriam. TWe
(actors aave cat tha enat of too avers haua
tng opera Oooa from 37.973 tn 83331.'
Ths coat of Bring has fallen 17.6 rr- cent
since J use. 1920. aad 2-1 staoe May. 1921.
STocKtaggr
T asrl ra
ia the aomr trade aa that avvwral
ot too tarcer ptodiKoia are vnlun to aril capper
for immediate aad aearby Cell very tor 13 eeam
a aooad delivered, bet that the majority ara
asking 13. The reoeral belief ta tha trade
that prices may gradually wrak higher and
taat by us tun of the fear a mach usumtum
marset wui be eevejopeo. .
Standard OH Stocks
(Fum&hed hi Overbeck ft Cooke Co.)
Anglo
Cheesebrough ......
Cheeeebroagb. pfd. . .
Eureka . . ..... .
Galena, com -
Galena Old. pfd....
Galena New, pfd. .v .
Illinoa Pips ,
Indiana Pipe ......
Northern Pipe .....
Ohio Oil
Penn Mex
Southern Pipe
South Pena OU
8. O. Cal
8. O Ind.
8. O. Kansas
B. O. Kentucky . ...
S. O. N. T
8. O. Ohio ,
8. O. Ohio, pfd
S. O. Nebraska
BkL Ask.
18 19
135 165
96 as
85 KB
46 49
95 100
93 99
160 163
62 84
93 96
378 22
24 26
84 ST
284 238
83
83 83
363 &R0
410 420
338 843
898 896
108 110
175 185
NEW INCORPORATIONS
Salem. Or.. Not. 9. Organised for the par-
peee of eoustrorting and maintaining a com
munity house, the Pleasant Valley Community
House association of Pleasant v allev. neer Red
mond. Deernutoe county, filed artaeiea of incor
poration with the stats corporation department
here Tuesday. The association ia capitalised at
32000, with the following incorporators: G. W.
Beaver. A. R. Teaser and Rasmus Peterson.
Other corporations filing articles were:
Beat Spring enmpaay. Portland. 8160.000
A. J. Clipper. J. T. S tie as and Jharpo M. Wsck
row.
Metallic Manrtfarbrrtng company, Portland.
S3000; Gnat Graffinberger. M. G. Riebeling.
A. li. Hanjey ana Bert vv. Henry.
Northwestern University of Physio Therapy,
Portland; capital nol: U R. Wilson,' B. P.
aproose and It .1. Baker.
Onast Cedar Shingle company. "Portland.
3300O ; C. E. Potman. Rath 'Nelson Putnam
aad j. It. uallagher.
Olympia, Wash.. Not. 9. Articles of incor
poration were fited with tha secretary ef state
on Monday by the following companies, wa. :
B. ft M. Transportation company, Olympia,
rapttai storg szu.uun : incorporators leo r.
Schmidt, William A. Blackman and A. R, Co
unt
Tuba Mines onmpany, Spokane, capital stork
$50,000; incorporators E. E. Lofflr aad Rose
it Porter.
vapalean Products company. Spokane, capital
stock s.'u.uuu; 10 manufacture aoapa. etc: ia
corporators R. A. Diets Jr.. R. C Miller and
L A. Bartgea.
Klkhorn Mountain Minlnr eonnur. Tuw
rapiul stock $600,000; ia corporators J. J. Her
UUy and T. L. Stiles.
Direr tors of White Motors declared Tvaraas
qnarterty dividend of $1 per share, payable ba
st to avoca at record istoesnbrr 10.
Pacific oil for nine aaoafhs esulrd Tlr iSisiihis
30 surpros. aftrr allowing for federal tax, was
equal to only $3.79 s ahara. la faee of that
wing, the best eatlssates are that after all
taxes. Panfm oil will end 1921 with a earpiaa
f about 811.909.000. but the present $3 vi
deo ed would consume $10,300,090 of thai
amount.
Tha Lincoln Motor rompany filed verantar
pebtioa ia bankruptcy ta the federal ooaxt at
Detroit yesterday.
New Tork Central authorised to issue $19..
800.000 bonds to ateet obligaxioa to government.
Standard Oil of Indiana and Tessa enaanaa
effect arrarigssaent whereby carh asakss was af
other patent pi 01 ias for msnufactara of gaso
line and other ml prod acta, either oompaay may
license other to operate under say and all theiS
patents under agreed diruaoa of royal use.
Twenty industrials $74.20. up .29.
Twenty rails $72.70. up .57.
C B. ft Q stock ta a oa 16 dh'kM sbri.
dend hasia. hUlra diaba.raisBi.nt at end af JmJ
probable.
41
12
12
Pacific Livestock Co.
Pays State $50,000
Salem, Or., Nor. 9. Payment of the bal
ance of $50,000 due the state from the Pacific
Livestock company in the compromise settlement
effected by Attorney General Brown twe years
sen was made to tha state land board Monday.
The payment, was accompanied by $3000 interest
on the aelerrea payments. unaer we wnui oi
Vigorous Buying Is'
Reported in East
And Pacific Coast
Ths most rigorous public buying is oa the
Pacific coast and in ths East, according to the
weekly report of the New Tout Credit Oearine
the compromise agreed to by the company wmie I noose, Mercnanta are purchasing moat actively
a suit lor iraua was pending against it, ue
company paid to the state a total of $125,000.
of which $25,000 was paid at the time of the
enmnramiss and 350.000 was Paid in each of
two yearly installments. It was also agreed by
the company that 10,000 acres of land would be
thrown open tor settlement at pncea w pe ap-
proTea dj tne state tana oosra wuicn, u is un
derstood. has been done.
in the Middle and South agricultural aactiona.
In the Pacific coast section purchases for the
week ending November are less than tha cor
responding period of a week ago. Indebtedness
is considerably leas. Payments are much batter
than a year ago and two years ago.
FOREIGN EXCHANGE KATES
Corrected daily by the foreign exchange de
partment, ot tne United stales muomi nana.
Quotations below (except the pound sterling)
are quoted on the basis of 100 units foreign
mirrencT.
Opening nominal rates on bank transactions:
Draft
London Cheeks.
Lbs. Sterling. $ 3.94
Parti Franca.. 7.27
Berlin Mirks. . .43
Genoa Lire.. . 4.22
Athens
Drachmas 4.20
Copenhagen
Kroner. .... 17.85
Christ iania
Kroner..... 13.85
Stockholm
Kroner. 23.00
Hongkong
Currency. ... 84.50
Japan Tea... 47.0
Shanghai Taels V-
Cable
Transfers.
$ 3.94
7.28
.43
4.22
4.23
17.90 .
13.96
23.00
54.75
48.05
78.20
Par
"Value.
$ 4.866
19.80
23.81
19.00
19.80
26.70
26.70
26.70
Canadian dollar disccunt 8 per cent.
Foreign Boad Market
(Furnished by Overbeck ft Cooke Co.)
JI1U.
Belgian rest. 5s. 60
Belgian prern. 5s 65
Belgian 7a, l3 iuj
Belgian 8s, 11...
Belgian 6s. 1925
Brazil 8s (new) .
British 5s. 1922
British 5s. 1927.....
British 5s, 1929
British vky. 4s ......
British ref. 4s.
Bordeaux 6s, 1934 . . .
Canadian 5s, 1937 . . .
Canadian 5s, 1926
Canadian 6 a, 1929
102
398
391
890
800
278
86
89
94
PACIFIC COAST BASK STATEMENT
PORTLAND BANKS
This week. Tear Ago.
Clearings Monday.. $ 6.524.100 $ 7,277.084
Balances Monday. .. 1.726,163 1.464,726
Clearings Tuea. $ 4,848.172 $ 6,193,087
Balances Tnes 5S5.276 1.19R.249
Clearings Wed 4.8S3.172 5.801,851
Balances Wed 720,525 872.255
Qearinga Wednesday $ 513.059
Balances Wednesday 89,244
Spokane Bank
Clearings Wednesday 1.545.415
Balances Wednesday 669,361
Seattle Banks
'Balances Wednesday .1. '720325
San Francisco Banks
Clearings Wednesday $22,000,000
Oakland Banks
Clearings Wednesday ..$ 2.970.066
La sulfates atanas
Clearings Wednesday
...$13,638,614.
Baker Bsslness Chang-es ,-
Baker. Nor. 9. Two deals of Tut imnortanee
hare been closed today, the largest being the deal
maoe oy tne Bergman l as a. oompaay pur
chasing the O'Bryant Grain company's whole
sale and retail grain business. The- other was
tha purchase by L. C Edwards, a wen-knows
droggist, ot the Biackmon-uunn drag store.
- It is understood that the Arm Grocery ens
neny has sold to the Cooperative league which
contemplates having a store in operation by the
lath of tne moots. ? - .
Canadian 5s, 1931 ' S3
Canadian avss, ivzx
Canadian 5s. 1927 ..
Chilean 8a. 1941 . . .
Currency
Denmark 8s. 1945 . .
Dan. Muni. 8s, 1945.
French 4s, 1917
French 5a. 1920 ...
French 5s, 1931. . . .
French 7a, 1141 .
French 8a. 1943
German W. L. 5s.
Beran 4s
Hamburg 4 ...........
Hamburg 4s .........
Leipsig 41 . ... 1 .... .
Eeipsig 5s
Munich 4s ............
Munich 5s - .
Frankfort 4s
Italian 6a. 1918
Jap. 4s, 1931
jap. 1st isl, 2
Jan. 2d 4a. 1923 .
."lonvay oa. iw .......
Rnsstan avis. l2l .....
Rassisa 5s. 1926......
Russian 6 a. 1919 . .
Swiss Sa. 1929
Swiss 8s. 1946 .........
V. K. 6 Ha. 1921
X. BS, 1923.
Railroad OTrrhlallas; Bridgrs
Chehalis. VTi'k, Nor. 9. The Chieaga. Mil
wankea ft St, Paul has' a erew. aambenng about
1$ men. overhenhng tha bridges siocg the hna
to Raymond. The errs; is in charga of B.
Palmer, , ,y
t. a. htks. iv-v.....
0. K, 5s 1937.....
88
88
100
8
. 102
106
45
6$
55
96
101i
1
2
a
3
8
4
$
3
3
32
S
. 85
i
106
12
3
14
94
108
99
99
93
4
64
70
104
103
96
104
408
401
400
810
288
'H
94
96
'90
90
100
10
107
46
64
, 56
96
101
3
. 4
4
4
5
4
8
4
, 33
63
85
107
IB
.1
17
.94
10
190
99
95
SSW Tork Bond Market
Furnished by Overbeck ft Cooke company
Atchison-Gold 4s
BL ft Ohio cold 5s
Beth. Steel ref. 5s
Cent. Pacific 1st 4s
t. Paul genl. 4t
Chicago N. W. -genl. 4s. ; . .
LAN. uni. 4s
New Tork By. 5a
Northern Pacific P. L. 4s..
iTJnion Pacific 1st 4s .....
TJ. S. Steel 6s . S3
Lnlon Pec 1st ref. 5s...
Southern Pas. cone. 6s. . .
Southern-Pac conv. 4s . .
Penna. conv. 4 a
Penna. 1st 4a
Chea. ft Ohio conv. 5s. . .
Ore. Short Line 4t
Allied Psckera 6s
Amn. Caan 7s
Am. Cotton Oil 6s
Amn. Tobacco 7s
Anaconda 7s .
Anglo-Amn. Oil 7s ....
Armour 7s ..1
Cuwahy Pack. Is ,
Gen. Elec deb. 5s ,
Goodrich 7s ..........
Kenneeott Cop. 7s . . . 4 . .
Pac. Gas a Elec 7s. . . .
Pac Fruit Expr. 7s ....
Sears, Roebuck 7s. . . . . .
Sun. Oil Cal. 7s.'.'...
C. S. 6teel 5s
Westinghouda 7s
West. Elect. 7s
Bid. Ask.
82 82
74 73
86 - 87
77 77
64 64
77 78
84 85
21 24
79 80
84 84
95 .96
77 80
1 92
82 82
69 90
83 84
84- 85
87 87
49 50
86 SO
94 H B
. . 101 101
99 99
108 108
101 102
100 100
92 ...
97 98
98 99
97 99
98 99
100 100
105 103
96 . 99
105 105
101 ...
Foreign Exebaar Market
New Tork. Nov. n. (TJ. p.) Marks showed
a sharp advance today, opening at .O042.Vk. in
0009 from tha nreeiona rim TK -r
the foreign exchange hat opened irregulsr. P-
mana avemng. a.vt 4k : ixanca. .0727
0422.
lire.
for-
5w York-Loadoi Surer
New Tork. Nor. 9. (L K. tL
bar surer, domestic, trnehana-ed at Have
eign, e lower 11 11 c
London, Not. . 9. (L N. S.) Bar silver.
d lower at 88L
The exchsnge market closed irregular Ster
ling $3.94; franca. .0727; hre, .0413; marks.
.0041.
Ashley & Rumelin
do not keep union
hours but they do
have and WANT
MORE accounts
both ComAiercial
and Savings of
union men.
H0URS8A.M TO 530PM
SATU RDAYS8AM TO 8 RM
Mosey aad Exchanga
New Tork. Nov. 9. (L N. 8.) Call money
on the floor of the New Tork Stock exchsnge
ruled at 8 per cent; high 3 per cent: low
3 per cent. Time money was steady. Bates
were 6 ft 5 per cent. The market for prime
mercantile paper was stesdy. CsD money in Lon
don today jssa 2 Vk per cent, sterling exchsnge
i steady wrtn Business in Dangers auis at
8.94 'for demand.
Liberty Bond Sales
Reported by Overbeck ft Cooke Co.
Liberty. 3s
Liberty, First 4s
Liberty, Second 4s. . .
Liberty. First 4 s. . .
Liberty, Second 4s.
Liberty- Third 4s. . .
Liberty. Fourth 4s.
Victory. 4s
Victory, 8s
High.
9540
94 80
9490 -
9670
950S
9972
9970
Low.
9510
9458
9444
9620
9469
9962
9960
CI.
9510
9440
9486
9460
9444
9630
9460
9964
9964
3Tcw Tork Metal Market
Sew Tork. Nor. 9. ft, N. 8.)
Quiet. : Spot. November and December, offered.
1214. -
Lead Quiet, Spot, horesober and Decern Dev.
offered. 4.72.
Spelter Steady. Spot. SBVesuber sad De
cember, offered. 4 .
Batcher She Jennrwred .
Springfield. Or. Nor. 9. James Stewart and
Thomas Bennett have snored to their aew looa
ana en Mara street from tha creamery avoiding,
where they operated a mast market for several
They have Installed aa up-to-date refviami.
inc shop, having pat in aa Aanxrtrong four-ton
iee saselun
Stocks, Bomtls. Cavttenv, Craia. Etc.
3i 6317 Boarsl Tratto BalUtaf
Overbeck&CookeCo.
DIRECT PRIVATE WIRES
TO ALL EXCHANGES
Boar, at
Laa-aa ft
Goodyear Tire & Rubber Company
8 Gold Bonds.;
Dated May 1, 1921 Due May I, 1931
These bonds when retired, on or before maturity, must be raid
at 110 of face- value.
Sales of the company for seven months from February as to
September 30 of current year over 162,500,000; net income for
same period available for interest $ 6, 7 5 0,000 plus, which is more
than 2.93 times interest requirements on total funded debt for
such time. Net current assets September 30, 1921. 60,QOO,aoo
net tangible, assets 137,000,000.
PRICE: 99.50 and interest
Offerings subject to prior Male.
Clark, Kendall & Co., Inc.
Fifth and Stark Street
Government Municipal Corporation
BONDS
aisrasars Caleas;
Carressosdaats . at
Catena
TraaS
Bryaa
lacs
OFFERED STRICTLY
SUBJECT TO PRIOR SLE
only limited txmoants
OregonMunicipalBonds
6
income tax exempt
prices to yield to
t Rata Duet : Yield
Bandon. Oregon 6.00 e Ser. 1932 6.00
Coos'Cbunty. Oregon ..-6.00 1923-27 S.50
Tillamook, Oregon .6.00 1940 6.00
Clackamas County, Oregon 6.00 f 1927 .5.17
PORTLAND UNION STOCKYARDS 7 YIELD 7
Dae to the scarcity of good bonds, we' "
suggest that you advise us as to. the ,
' " type of bond you desire and when avail .
i ;; able we will notify, you, . - ,- .
y LUMBERMEN'S '', ';
" . , Broadway and Oak . . '