THE OREGON .SUNDAY JOURNAL. PORTLAND, SUNDAY ; MORNING. DECEMBER 18. 1521.
HOBOES MOURNING
'BRUTAL MURDER OF
YIN A. O'CONNOR
Feelinsr Bitter Against Ingrate
- Who Shared Recluse's Hospi
tality, then Killed Him for $50.
-- Through many "Jungles' the news of
xi v . 1 t Trihn rtfctir
' O'Connor, friend of hoboes, has spread.
I and today there surges in the breast of
' many of the wanderers who knew him
- vii ar rnrmnt acr&inst the irraceless
- member of the guild who slew him for
the pittance of $50 which the elderly
ratiiui in known to have carried about
his person In anticipation or. giving an
appropriate paternal reception to a son
in th American army of occupation in
. ..-kA i AvftAyA1 in Tnr!rtl
for the holidays.
O'Connor was found dead in his cabin
"isn Slayden island Saturday morning. His
ihroat had been cut and his body hacked
. and then stuffed into an old potato bin
'raider sacks of potatoes.
"" Deputy Sheriffs Christoffersen and
. " fi.Ll ..KVnul a tltt. am r tVtA
PUWIIIICl .IIV awtsw. -
L identity of the slayer Saturday night
,'when they returned to the office to re-
port, alter a iruiuess nay oi uivu6
f Ion.
' O'Connor's body was found by Deputy
-Sheriff Bert at 8 o'clock Saturday morn-lng.-
5)EAD ABOUT WEEK
4 He had been dead about a week. He
Was last seen by neighbors a week ago
Saturday afternoon at 5 o clock. His
body was discovered when reports that
he was missing were macie ai tne sner
t Iff s office .and an investigation was
started.
Children of the neighborhood loved
- iO'Connor. They were in the habit of
golng to his shanty to gather around
him and listen to his tales of adventure.
He had been all over the country, ap
parently, and he told his stories humor
ously. Among his effects the deputies found
a number of addresses. None of them
haa led to any clue thus far, however.
s One address was 71 East Terry street
The deputies found that this was where
O'Connor obtained the dog that had been?
his companion during recent weeks. The
former owner of the dog reported that
4 he did not want to pay the license fee
and that anyone who wanted the dog
'could have him. O'Connor, out of the
"Vlndness of his heart, say neighbors, re
sponded to the advertisement
-OTHEB ADDRESSES
I ,v other addresses were George Rose,
V 565 East Lombard ; P. J. Lamomaux,
! 2004 Ella "court. Marinette, Wis., and
1 William Crane, care of F. S. Uran, Route
? L-Cape Horn.
t - The beat description of the hobo who
stayed at O'Connor's house for several
J days before the murder follows: Five
t feet 10 Inches. 30 to 35 years of age.
I light sandy complexion, 145 pounds. He
Bjajr have been an ex-soldier, as an
j overseas cap that has not yet been ac
i counted for was found in O'Connor's
5 snack.
u ARcnrdlnir to John Bohlen. neighbor
1 of O'Connor, O'Connor told him when be
. . . i i I. an ir
Cams XO lUS puuw aa "Ctfc o(u o&iuluas
I that a "bo" was staying at the shack.
I Thin "ho" had robbed a freight car
5 on the a I A S. siding and secured
i considerable bacon, ham and tobacco,
said O'Connor. He explained that the
bo" wanted him to go after the stuff
where it had been cached, but that he
refused, saying he would have nothing
J to do with it
I BO" GOES AFTER LOOT
O'Connor said the "bo" went after the
i stuff himself. O'Connor said they were
r irolng to have a feast on ham that
night Saturday) and immediately afft
, irwardi he was going to order his
' 2 ' Deputies say O'Connor may have
faulted in the quarrel that led to the
old man's death.
CThe Dalles. Dec. 17. The police or
: other city officials, have no record here
of John Arthur O'Connor, who was re-
: ported from Portland today to have been
a murdered. O'Connor was said to have
visited In The Dalles about two months
mo. but the police have been unable to
locate any relatives or friends or. tne
J HlttJU.
BANKRUPTCY ASKED SO HK
i CAS KEEP WOLF FBOM DOOB
5 Five bankruptcy petitions were rnea
Saturday in the federal court Nate
1 Franklin of Burns -f lied the largest pe-
f tition. He asks discharge from the pay'
i ment of seven court Judgments totaling
1 $28,251.33, alleging that he has no as-
- sets to pay any portion or his iiabiu
'i ties. lV.Smyth, tailor at 100 First street.
- ArfiMooaa a villi nctrtmt (n flnrTnr1 tits
... IM0.3S worth of assets to pay his debts.
. which total $609.62.
; - girl ovu t I , WW V V . a wa ...
dltlnn to filintr his hankruntcv netitlon.
' 1 also filed an affidavit In which he al
, leges he is not able to pay the court
f Cling fees. Root says it is necessary
; I tor him to enter bankruptcy to protect
' Ilia wife and three children from starva-
. Hob, as owing to sickness in the home
. , his bills have mounted to a sum which
: he la unable to pay. He asks discharge
, fjrom 12103.43 UablllUes. His assets are
. C75. .
" E. P- WoolseT. Dallas. Or., brakeman.
iives his liabilities as 31158.35 and his
k.aaeets at' jw. isvereti tn. uyer.
- I farmer residing In Mayville, requests a
t ciscnarge irom nis aeDts totaling
iii39t.s&. ilia assets are iz8.zu.
OWltEK OF t GALLONS OF
i' MASH ASSESSES FINE
Mvers was sentenced by District
udge Deich to pay a fine of $250. Sat
C: t tirday afternoon, after pleading guilty
INVESTMENT!
Port! nd manufacturing plant U en
larrlrnc. requiring new building- and
machinery to Increase production to
keep up vt ttii sales of Its product.
Very profitable and practically ex
elusive line. Offering remaining
$40,000 Capital Stock in well secured
form-In amounts of SIOO.OO up.
Particularly desire subscriptions in
amounts of $5000.00 upward from two
or three professional or business men
wbo will go on the board of directors
and take an Interest in the super
vision and government of the com
pany. Without-any obligation, ask
us for complete details. Y-200,
JoarnaL
ALLEN BROS. CO., BROKERS
Buy Immediately Mexican Petroleum,
Baldwin LocomotlTe, Crucible Steel.
Miami Copper and other Listed
Stocks: prompt serrtcs, prompt set
Uementa. Tea shares up accepted
oa $ and t margin perahara. -
to ownership of a till that wu found
in his houavs, 8604 Footer road, br deputy
sheriffs. He had SOO callous of masn
sad three gallons of moonshine.
Tony TazseUnt was also fined $250.
He was taken by deputies at First and
Yamhill streets Friday evening. He had
a truck, which was. to all Intents and
purposes, loaded With vegetables, bat
Deputies Beeauuu-and Wolfe rot curi
ous. They looked underneath the vege
tables and found a keg; of whiskey in
closed In a box.
Constable Ed Gloss, with Deputies
Watkinds and Druhot assisting, as well
as Deputy District Attorney Driscoll,
arrested Gus Johnson at Columbia bach
Saturday afternoon. They found four
barrels of mash and a 15-gaIlon still.
GETS 11 DATS
James Powers, charged with larceny,
was sentenced to 149 days In the county
Jail. Saturday afternoon. He pleaded
guilty before District Judge Deich to
shoplifting a number of articles from
Meier A Franks. .
Divorce Mill
Suits filed : Hannah E. against
Charles F. White, and Anna Waterson
against Claude Waterson.
E
IN FOOD STAPLES
Comparative Prices Show Big Re
ductions From Those Paid by
St. Louis in 1920.
Kt Ldoia. Dee. 17. Relative price between
this rear and last year are (trUdntf shown in
the bid received bj this citj for aupptie for
city institution for the next three months.
Food ittDtea allow a aeciaea amine wn jear.
Lard wu offered the city at t I hundred"
Donnda comoared with til. 90 laat year. Ham
coat siT.eo a nnnami ton year, comparea to
(23. Bacon u offered at M4 a hundred, fom-
narad with $18.50 in 1920. Bids for beef
loin were 115.33 a hundred, aa compared with
19.75 for aimuar cuta a year ago. Fork loin
ia (IS this year and was $20 last December.
Mutton is high this year, the price being 38.35,
compared to 37.35, so are apareriba, which
sold a year ao for 38 and are now $10.70.
Veal is unchanged.
ECBBEB
Cumberland. Mi. Dec. 17. The Kelly
Springfield Tire company has put on a nisht
abitt at on tire building machine. It announced
that other machines also will tw worked at
night sooD. The factory is now employing 1050
workers, or nearly the normal quota.
MACHINERY
Kalamazoo. Mich.. Dec 17. The Wilson
Foundry a Machine company has received orders
for tire moulds sumcient to kep its Ure de
partment busy until spring. The company
which will hereafter manufacture all Willys-
Kniaht engines, is receiving carloads of n
chinery from Elyria. Ohio, for new work.
FISH
Portland, Maine. Dec. 17. The lobster sea
son is now on. Dot tne greater pan oi tne
esnners have refused to open their plant for
the short season, which lasts but six weeks.
The Nova Scotia canners are putting up some
lobster for export.
VEGETABLE OILS
Seattle. Dee. 17. Cocoannt oil from Manila
is arriving her at the rate of 800 tons a month.
displacing importations of soya bean oil from
Japan since the duty of 2 cento a pounq on
the Jspaneae product was estabHahed. The
Manila oil is sold wholesale it 7 cents a
pound, as compared with 18 cents in 1920.
COAL
Philadelphia, Dee. 17. The bituminous
coal market in this section Is quiet, as many
large consumers stocked up heavily in antici
pation of a rail strike. Uemand lor antnrscite
continues to be satisfied on a hand-to-mouth,
one ton a a time basis.
Kanaaa Cifcv Dec. 17. Fisures iust com
piled show that the flour milla of this district
ground mora grain in October than in the
month a year ago. The mills in tins city oper
ated at 90 per cent of capacity.
ELECTRICAL EQUIPMENT
New York, Dec 17. The Delaware. 'Lacka
wanna a Western rauroaa nas a&xea tne ueo
era! Electric company and the WesUngbouse
Electric company to prepare estimate tor tne
electrification of 40 mile of track near Scran
ton Pa. The cost, it is believed, will be be
tween $5,000,000 and $6,000,000.
IRON
Imnwood Mich.. Dec. 17. The reopening of
the Newport and Anvil Palms mines on half
Ulna toM iw, kw,,.wj w-..-.
miners here.
LIVESTOCK
St Louis. Dee. 17. Notwithstanding the
atrike in the nackina Plants, receipt of live
stock in this market were large this week and
new price show stability.
Bond Demand Is
Ahead of Supply
In line with the tremendous advanc in
th general bond market bond men aay that
the present demand continue to be far in
excess of the supply. At no time within the
past three years nav local nona nouses naa to
few bonds on hand.
Th current buying movement, wmcn reauy
etarted about six weeas ago, nas steadily nroaa
ned and at th present tune both bank and
institutional buying is heavy. Trustees are also
becoming more liberal purchasers of state and
municipal issues. osvlngs banks, wnicn s a
rule are lam holders of Victory notes, have
been selling these note as they hav nearer!
par and are large buyers of municipals.
Bond men attribute the rapid nse in state
and municipal issues mostly to lower money
rates and the abort-supply of
4 Billions in Gold
Help Ease Credits
Th enormous importations of gold from all
quarters of the globe within th past year or
more hav been instrumental in easing the credit
situation in this country. Today the United
State holds cold amounting to about 14.000.-
000,000 compared with $3,000,000,000 at this
time a year ago,
Th federal reserve system boMs $2,823,901,
000 in cold compared with $2,003,678 in 1920
end $542,413,000 in 1915.
0verbeck6?
Cooke Co.
Stocks, Bonds
Cotton, Grain, Etc.
DIRECT PRIVATE
WIRES TO ALL
EXCHANGES
Members Clucaf o Board of Trade
Correspoadeats of Logan & Bryan
Chicago New York
216-217 Board of Trade Building
DECIDED
CN
WANTED A well established
wholesale tire dealer wants a man
with $15,000.00. : X25 per cent an
nual return on investment assured.
Investigate. B-888, Journal.
BUSINESS GROWS CAUTIOUS; ABANDONS IDEA OF
VOKKERS
f
FAR THEIR JOBS
Business Outlook Held Bright;
Dealers Can Give Values and
Yet Make Money.
By Jk ftoyto
Special Correapxndent of The Journal
New Tork. Dee. 17. Bosineaa is cleaning
its slate. It ia wipina; oat old debts, clearing
out old stocks, and writing off old inventories.
Better than that, the majority of buaineea men
are wiping avy exorbitant nine, cutting ex
orbitant costs, and abandoning the idea of ex
orbitant profits. In their places th-y are pre
paring to wnle down the problem of keen com
petition, cheap production, economical sales
methods and amaJL quick profits.
With the exception of the holiday trade,
there has been a falling off ia busineea activity
in many , line of industry in the test week.
This toll probably will continue until after the
fir of the year; it ia a natural and healthy
indication of the state of bnsinea that it
should. For the inventory season is at hand,
and every careful business man is cleaning kna
decks. Too many hava suffered from the un
wisdom of starting the year with huh-prioed
inventories to repeat that miatke
But the shelve and warehouse must be re
filled again after the first of the year, and the
wheel of industry will hum to them. ' With
their new stock the fanighted busine men
are preparing to lay in new and varied assort
ment of sals methods and services,
PUBLIC WANTS VALUES
Business dispatches received within the last
24 boors make it plainly evident that the
During pubbc all over the country is aerioasly
intent on getting a dollar's worth for every
dollar it spends. Manufacturers, wholesalers
imd retail merchant are beginning to realize
not only that if they give a dollar' worth for
a dnUar ia good aervios they can still make a
profit.
In spite of the strikes bow in progress the
attitude of labor in general found expression
in the declaration of iron and steel labor men,
who asserted tills week that "this 1 not the
Uma to talk of strikes, but to eet ioba and
loeep them, that there is no new wsy to pay
oid debts, but that the old and tried method
of earning the money, saving it, and paying it
still is effective.
The railroads are leading in that movement
They are rapidly discharging their indebtedness
to the equipment oompanies, who in torn are
aiding the activity of men and materials all
the way back to the mines and the forests.
Men in some lines still take the attitude that
there can be no extended business revival until
the adjustment of exchange stabilizes foreign
trade. Those better informed" declare that for
eign trade is a aide bet and not the main pot
ana vast sncceesim Dusweas activity, like char
ity, must Begin at home.
SEEK HOME TRADE
The American Woolen company took that
stand this week when it purchased three addi
tional mills, indicating that it would confine its
efforts largely to th trade of the United State. L
ana openea some oi its nnes lor next I all at
prices which showed littla advance from those
now current
The smelters and mine are being reopened
steadily and the copper properties are being
brought back to a sound production basis.' New
outlets are being found to take th place of ex
port demand through development of new uses
for the red metal in this country. The auto
motive industry gives every promise of attaining
a production in 1922 wbieh will far exceed
the number of car turned out last year. The
demand for hardware has increased steadily for
menus ana suu is oa tne upgrade.
Over 80 per cent of the cotton spindle of
New England are in operation and the wool
markets are increasing in scanty with price
strong and advancing. The paper manufac
turers strain are making money and are adding
material y to payrolls and output
Unemployment ia decreasing despite fhe lay
ing off of men by certain railroads and fac
tories. Government, state and municipal proj
ects will provide job to additional thousand of
workers.
Popular Pressure
Behind Budget Is
Urged by Warburg
Paul M. Warburg, former chairman of the
federal reserve board, now chainman oi th board
of the international acceptance bank and director
of the national budget committee, sees is the
first executive budget, recently presented to con
gress, a medium of incalculable value to th
nation. It i up to congress to complete the
job which has been so well begun, according to
Warburg.
"The president's . budget as presented to con
gress," he said, "clearly demonstrate th in
calculable 'vain of the executive budget system
and that he has picked th right man for the
job. In less than six months General Dawes
has built up a new bureau of experts, who. under
his direction, hava anbjected activities and ex
penditures of the government to the most
searching examination for the elimination of
inefficiency and waste.
"By the exercise of ' continuous 'executive
pressure,1 General Dawes has been sble to reduce
current expenditures far below the appropria
tions, and by the same pressure and under in
fluence of a 'treasury conscience' which he
aroused, he has been able materially to reduce
the estimates for 1922-1923.
"The executive branch of the government has
done its work and done it well. It is now up to
congress to complete the job, and the people must
see to it that their representative take no back
ward atep in the matter. Popular pressure must
now play the part which 'executive pressure' has
been plsrng during these months of preparation.
Efforts will be msd to induce conere -
'roprit larger amounts than th presideafi
budget allows for. Pies of all sorts will be made
to justify various proposed increases. Popular
pressor alone will be able to aexeat toese
strongly supported demands. "
United Cigar Btom reported to authorize the
Issuance of $10,000,000 additional 7 per cent
stock.
Text Book
of WALL STREET
-22 ornoN-
History of New York Stock
Exchange History of the Consolidated
Stock Exchange of New York
History of the New York Curb
How to Open an Account and
Metisods oi Trading
The Art of Speculating for
Profits
Augmenting One's Income
How to Secure Loans on Stocks
Dictionary of Wall Street
Terms and Values of Foreign
Exchanges
McCall, Riley & Co.
20 Broad SL,
New York
I
BUSINESS.
TOPI
L. B. Williams, assistant cashier of th First
National bank and J. King Bryon. of th Ladd
A TUtos bank, represented th Portland chap
ter oi th America Institute of Banking at
the annual conference of the Pacific North
west chapter held fat Spokane. The chief
matter under discussion, was the annual con
vention f th instituto which wHl be held in
Portland next summer. Williams . is th presi
dent of th local chapter and Bryon is a meaa
bar of th national proarajn eosuniuoc
Th Discount- Corporation of New Tork re
ports that it discounted and resold to investor
throughout the United State daring the years
1919, 1920 and for the linttuine months of
1921. a total turnover of $3, 998.837, 713 and
that every seeeptanc in this volume was paid
promptly. This is a gratifying record of bank
ers' acceptances ia this country.
A aencbie deduction is that the country is
facing an intensive competitive struggle which
must result is stabilizing price at a level
which will bring business. The situation in this
respect is interesting and compared with a year
ago conditions may be said to be much healthier,
the credit situation sounder and labor more
efficient.
W. L. Thompson, vice president of the First
National bank, who has been in Washington the
past three month directing the affairs of th
War Finance corporation in connection with
th granting of loan to th livestock and ag
ricultural interests of th country, is expected
to return to his desk at the bank Tuesday.
The total value of exports to Japan in Oc
tober, 1921. are officially stated at $25,198,
000 against 912.067,000 in th same month
last year, deapHe the fact that on nearly all of
the articles forming that trade the price of
th current year are far below those of
year ago.
A 100 per cent gold reserve behind the
federal reserve not is an actuality that nobody
dreamed of either in 1920 or since the re
serve bank got well under way.
Th, advance in all classes of bonds has
caused many people to speculate in them the
am as they do in stocks, buying them today
and selling them tomorrow..
The new income tax law requires that if
th recipient of a gift sells it he must figure
his gain based on the original cost to the
donor. '
Dun's reports S73 failures in the United
State last week, compared with S87 th week
before and 260 for the corresponding week of
Declining money rates Just now. when the
usual rop moving is st the peak demand, fore
cast a lower money market in the near future.
Kept rations committee in note to Berlin
severely censures financial policy and demands
xurtner eiiorts to pay be made at once.
The reserve of the Merchants Bank of Can
ada is impaired. The bank may b absorbed
py tne xsang of Montreal.
War Sends Up Bill
For Interest in U. S.
In connection with the disarmament confer
ence, looking to the lessening of government ex
imiiiura jor army ana naval purposes, it is
interesting to note how the interest bul of the
united States has rolled up In the laat few
rears a a result of the heavy expenditures dur
ing th World war.
Interest paid on public debt for the five last
fiscal years follows: 1917. S23.2S2.S76; 1918,
$189,743,277; 1919. (619,215.469; 1920,
$1,020,251,622 and 1921, $999.114,1111. The
government's fiscal year ends June 80.
For the four months of the present fiscal
year interest payments were $277,527,813, com
pared with $260,628,200 for the corresponding
period of th preceding year. This increase is
probably due In part to the higher interest rates
paid on floating debt represented by certificate
of indebtedness. One isaua of certificates bear
ing 6 per cent is still outstanding, Ti't-nng
December IS.
Is the Reward of Service
THE .
Northwestern Electric
N. W. Electric Company, J. C. Tavares, Manager
Tenth and Washington Sts., Portland.
securities.
N A Af . . .
ADDRESS
II. s.
INVESTORS
SMASH RECORDS
More Than Billion -Dollars Paid
for Bond Issues First Eleven
Months of Year.
During the first 11 months of 1921 Ameri
can investors purchased ia state and municipal
bonds alone the srsaring amount of snore than
31.087.000.000. record never before
equalled, aocording . to Jamea H. Lynch, vice
prondent of th Lumbermens Trust company
"Th nearest anproaca to this figure was in
1920," stated Lynch in reviewing th bond
situation, "when bond of thH types were
anortea in the amount of soiiz.iu .uuo.
When one considers the millions that were
inverted in foreign . government and d oB antic
corporation bond issues as well, then an idea
can be gained of the immense financial power
Americans are wielding and will continue to
wield in the field of bond investment.
Thin power win Inert without doubt.
Looking at it from the international stand
point, for example, show the country in a
financial eonditioo it never enjoyed heretofure.
Instead of being a nation paying interest to
foreign investors, our people have loaned on
foreign bonds of all types the immense sum of
fS.OOO.OUO.OOO, a nearly as can be estimated.
5 bli is exclusive of th billions of money the
united SEates loaned 1U alhes.
HIOH YIELDS PAST
ITYu a lAm - J hi.l, .
an be said to hav psrl to an prae-
Range in Prices of Liberty Bonds and
Victory Notes During the Past Week
OFFICIAL. CLOSING PRICES
, Mon.
Liberty 3, 1932-47 95.30
Liberty first 4s, 1932-47
. .uo
. 96.70
.. 97.20
.. 96.86
.. 97.70
,. 87.26
..100.00
, . 99.98
Liberty second 4s, 1927-42 .....
Liberty first 44s. 1932-47 ...
Liberty second hia 1927-42
Liberty third 4s, 1929
Liberty, fourth 4s, 1933-1938
Victory 448, 1922-23
Victory 3. 1922-23
Northwest Bank Statement .
PORTLAND BANKS
x 1921 1920 1921 J20
Monday 5.77S.808 t 8.741,615 $1,612,421 fS.229.629
Tuesday .. 6,273,666 6.488.7S7 1.555.988 1.150.702
Wednesday 5.836.520 10.412.861 1,018.212 4.728.6M
Thursday 5.089.881 6,572.609 1.193.209 2.880.918
Friday 5,774,484 6,037,997 1.572,419 1,760,073
Saturday 5.144.389 5.633.S97 768,613 2,033,039
Totals $83,892,751 $43,887,717 $7,720,865 $15,233,057
TAOONU BANKS
Monday t 528.943 $ 840.684 $ 77.381 t 188.316
Tuesday 680.784 1,234,135 51,445 121.901
Wednesday 560.791 748,974 S3.82S 143.254
Thursday 450.303 826.763 44.022 62,933
Friday 474,291 729.016 45.735 60.039
Saturday' 589.003 624,758 40.786 ,87.807
Totals . s $ 3,284,115 $ 5,002,830 $ 292.692 $ 659.250
SEATTLE BANK8
Monday - t 5.576.624 $ 6.806,561 $1,154,660 $2,830,883
Tuesday 4,965,177 5.366,698 858,154 937.441
Wednesday" 5.014;974 6.627.779 1.103,696 1,976,601
TTinrsdaT . .' 4 849.956 6,363.769 1.873.692 1.768.898
Thursday ...................... 4 8 258.608 1,547,044 4.064.495
iXday 5:850.132 4,6i7.iL5 i,Mi.m 1,219,516
Totals $32 115,540, $38,041,530 $8.398.4M $12,297,834
SPOKANE BANKS , .
Mmd.- t 1,948.441 $ 2.255.117 $ 902.481 $ 871.247
TueUr 1 519.867 1.788,570 368.348 413.220
Wednesday . . . . . . . . '. . . 1.892,988 2.005.568 873,638 774.091
ThursdaT-. w.. -... 1 717 733 1.912,418 683,632 808.999
jnunway ..................... 2.196.983 521.536 952.840
SSy isjs99 2.019.671 786.526 .7bb
Total. $10,538,277 $12,178,277 $4,136,161 $4,837,167
"GROWTH"
During, the past four years has enjoyed the following
increases:
Gross Earnings .. .121 Increase
Net Profits 85
Power Sales 37
Consumers 22
Modern Equipment, Efficient' Management
HYDRO-ELECTRICITY
These have paid cash dividends to Northwestern Elec
tric Stockholders on Twenty-six consecutive dividend
days.
You may participate in the earnings of this Twenty Mil
lion dollar concern by investing your surplus in North
western Electric First Preferred Shares at
9G
(Price subject to change without notice)
To net
o
On your Investment
3(0)
An investment of $15.00 will secure an interest bearing
equity in Northwestern Electric Company. Start today.
Make January 1st your first Northwestern dividend date.
l a
Mail the prosperity coupon now!
Please tend me free information
tical puTpont. Just bow rpid)y yields are
decreasing fat shown by a glano into th bond
situs bo in Onvoa. During 192A and the
mriy part of 1931 hick gnd city bonds were
pmchased on the basia of a par ant yield
and county and acboal -bond en a S per cent
basis. Today th investor can secure a goad
bend of aa Eastern Oregon city at an average
yield of per cent, and a county or school
bond at-SH per eent.
In the is vestment field. Oregon has been and
is makiBs; rapid stride. A few yean ago th
number of mdindual bond buyer dad not
total over 1000 people. Today there ant no
lea than 15.094) men and women who are in
vestor in bunds. Last year they and ether
investor in Portland' bond trading territory
purchased appraximateiy S50.000.000 worth , of
bends. From two bond bonne ha Portland six
years ago, the growth of th bond baoneas ha
attracted others, until today tne roniwa invest
ment Bankers aandarian number IS banks ad
bend house on it roU. They serve a clientele
not alone in Oregon, but m Washington, Idaho,
Montana and California as welL and their snc-
eea in attracting new investor is proving of
immense benefit ia the work of upbuildinr th
Psoum Jforthwsst.
LOCAL THRIFT GROWS
In addition to securing funds for hag oon
structiv enterprwes, both of public and private
nature, Portland investment bsnxcrs are potntr
in- a war 'to thrift to thousands of peorik of
moderate mean, by providinc them with safe
seruritiea at good rates of interest. And at last
analysis there is nothing so coadactiv to thrtft
as a steady, profitabst income from one SMn-
dmdual surplus.
As to th character and type of bonds that
will be offered daring 1922. th indication are
for a marked decrease in municipal financiaig.
Moreover investor may look for higher prices
and lower yields and lower interest rets. There
will be, in all probability, however, an in
crease in corporate financing th roach bond
issues. In fact, investment bankers are of the
opinion that this phase of securing loan will
constantly increase. But. like municipal bondt,
the tendency will be toward lower yields, for the
reason that we axe entering on a period of
I easier money. This is grapnicauy sum oy tne
ies c -
x rum uicuiwt
Tues. Wed. Thurs. Frt Sal.
95.30 95.36 95.1X1 94.82 988
97.10 97.20 97.30 97.00 97.00
96.70 96.82 .84 6.70 9.2
97.20 97.30 97.38 97.12 97.10-
96 88 97.06 97.00 96.84 96.76
97.92 97.14 98.14 97.88 97.8S
97.26 97.36 97.42 97.23 97.22
100.02 100.04 100.02 100.02 100.01 .
100.00 100.03 100.00 100.00 100.02
Stock Sales,
concerning your
SWOLLEN PROFITS t
SI to December 4, 19:0. the ratio of gold
reserve to note after setting aside SS per cent
at deposits was 48.8 per cent. J For th same
period of th year bow doom th gold reserve
was 100 9 per cent. la the fee oi these
figure -eiaan" money fcv assured.
Bond Market Found
Mucli Strengthened
: By Several Factors
Th bond Baarket has nee amwikml l
the draaoatie development of the disarmament
conference, by the growing feeling' that condi
tion are getting better and that th country ta
coating into, its own again, according to finan
cial survey issued by th G. E. Miller company.
I? Absorption of high grade . eecuritw.-' state
th survey, "has been . greater in volume and
th boxing- of better typ than st any time
sine the World war began. Most of the pur
chases hav represented the purest investment
baying, based on a genuine belief that recovery
wa under way and that th Urn has come for
th employing of idle funds in long time invest
BMBta. - This movement Baa been- prompted else
by th fall ia rediscount rate and the excep
tional conditions of th banks of to country."
. For Investors,
that has proven successful
; 3 months trial
subscription free
The Roac Investment Review, publifhcd
monthly, describe a method of tnveatina,
that aaa proven aarcwaAil by actual uaa.
, Leant How to make vour aweary earn
and aaultrprv. Take your 6 rat atep toward
l 4 1 I I -
f far your free copy of L R. No. 255-
ROSE & CO.
! INVESTMENT SECURITIES
SO Broad St Nw York City
W resfeo'
We own and offer
United States of Brazil
4 Bond of 1889
A current annual income of
7.30 to 8.38
Plus
83 to 110
Increase in Principal.
Ia oar oplslos, these Bonds sfford oae of -the most attractive lavest
meats that are sow obtainable.
Full details furnished upon request.
We will be pleased to send too our new booklet showing the method of
operatloa of the new Federal Inrome Tax Law for 1921
Rl.Devepeaux R(ompany
INVESTMENT BONOS
7 SIXTH STREET " PORTLAND. OREGON BROADWAY 104
GROUND FLOOR WELLS FARGO BUILDING
Tax Free
Municipal Bonds
j Rate.
Marion Co. (Ore.) Gen. Obi. 5
Douglas Co. (Ore.) Gen. Oblg.4V2
Lake Co. (Ore.) School. .... .6
Grangeville (Idaho) Gen. Oblg.6
Lewistown (Mont.) Im. 6
WesternBond Mortgage Co.
c 80 Fourth Street, Portland, Ore. .
Ground Floor, Board of Trade Bldg. Tel. Main 113
TAX EXEMPT
AT LESS
THESE Port of Bay City bonds, which we deem ourselves
fortunate in being able to offer at such a time and such a
price, have behind them as security about one-third of the great
and prosperous area of Tillamook County.
PORT OF BAY CITY, ORE.
6 General Obligation Bonds
Dated May i. 1919 Due 1925-1933
(Without right of prior option)
97.97 to 99.22 to yield 6.25
Denomination $100 and $1,000
. Principal and semi-annual interest (Jan. 1-July 1) payable at fiscal
agency of. Oregon in New York city and at office of Morris Brothers
Corporation. ' . ,
Asfd Talaatioa
Total Bonded Debt
(5ot debt is let
HIGH YIELDING CANADIANS
a
Calzirv School Dist. No. 19 ...
Ft William," City of 5
Nsrth Vancouver, B. C 6
' North Vancouver, B. C ....... . 6
! Prince George. B. C. . '. 6
. Prince George, B. C, Water Works 6
Prince George, B. C, Electric Light 6
Prince George. B. C, Street Irap't 6
St. Boniface, City of .......... . S
St. Boniface, City of .......... 5
i Vancouver, City of, B. C. ...... . 4
Telephone or Wire
M orri s Brothers Corporation
ftorrts Bid., 309-11 SUrk St., Portland, Ore.
BDWY. 2151. SAFE DEPOSIT BOXES. .
Edited by.v
Ilestiiaa
i S1M.MS la L0na
Boardnssa. Dc IT. Th local ftlcUki of
th Federal . Farm . Lean aMocaatioa shimwc
appro xuaau-iy $100,000 ta loan applies Uua ia
w ooarxunaa .aad Irrigoa district.
. Holland! Is ekinc a $:3.000.00B oaa from
the Caitea State. y i ,
to spare?
"PHATS wnoufh to obtain a
hifb IT ads bond with tbo
pmiat advantage of LOW
PRICE and HIGH YIELD pins
possibls increases in market
walusf
Do Not Lst FALSE PRIDE Kesp
Yon From la Tea tin a Small .
Sum of $10 or Mora
Making the Stift Is Half the
Battle. ,
Tear out tki coupon and mail
TODAY
Freeman, Smith Y Camp Co.
Lumbermens T31dg
Portland.
(Gentlemen : Please ex
plain how 1 may get 6 to
8; on my savings, even
though 1 begin with as
small an amount as 310. I
assume no obligation In
making Ujis Inquiry,
(Name)
(Mali Address)
(Town and State)
Due. Yield.
1924-27 5.00
1924
1941
1941
1925
5.10
5.90
6.00
7.00
OREGON BONDS
THAN PAR
..i..... (7474.SSS
M7,t
thai one-UiU)
Price. YidZ
98.82 7.00
Rate.
. 6
Maturity.
1923
.1934 '
1922 .
1923
1929
193 S
1935
1930
.
83.80
98.81
98.25
94.09
91.29
9.29
93.57
82.25
82.02
96.62
7.00
7.25
7.25
7.00
7.00
7.00
7.00
6.50
6.50
7.50
1943
1945
1923
Orders at Oar Expense
1" Have you
S2I Clan. Cmbu Bldg,
S1MI
i