The Oregon daily journal. (Portland, Or.) 1902-1972, May 21, 1922, Image 33

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The Oregon daily journal., May 21, 1922, Page 33, Image 33

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Newspaper Page TextU DUMBER AND LOGGING ACTIVITIES GAlkilN jTHE COLOMBIA RIVER 'jDISTRIGT WITH PRICES HOLDING J WELL THE OREGON SUNDAY- JOURNAL, PORTLAND, SUNDAY . MORNING, 3IAY 21, 1922. LOGGING GAINING: ', flM THE DISTRICT I. Ill '11 II III IB I. 'J ;ff-' ' : Steady Improvement : of Opera tions Indicated Prices' Also' Show Steadiness. Tha Inerina. situarinn in tk rV,-i-.H.- vtMe -Strict continues to thorn steady lmpnwnnsot. anonga u mount of new order for logs a skewing slight decrease. This is earned by te tact that outstanding orders haT ben filled ii the last few weeks. Most camps have been veeratina: for three weeks. Beporta still show that a few of the tardy ones are resuming- their work.- The Willamette Valley Loca-io- company near Dallas reopened last Tuesday, for the first time since last fail. This will sW resume the mill of the company, employing many , men. - . I A report front, the Dee lagging cam? stated tAat operations bare becun in the camp, bat sot st tali' force as yet on account of the roads. Workmen started clearing the road to Hood Hirer from the eamn, tint still hare, about 10 ' miles to clear. The snow is from fir to seven feet deep ia some puts of the road, so it will be seme time before the logs esn - be transported - from the camp. Small landslides bare hindered tie dealing work to some extent. A togging read from Hood Brver to the Lost Lake logging camp "has else been started. Tbe bridge on the road, which was washed ' away daring storms last winter, bss bees -finished at a cost of i proximately 12.000. The firownlee atmp in tbe Butt falls lam try is bow sending logs over the new roadbed to the Brownlee sawmill la Medford. I J Many of the camps are now operating two Ides at present, whereas only one side has bean working on account of bad weather. - ' f The Loyal Legion of Loggers and Lomber mm arWM letter says a period of nearly six -soothe of bsd logging -weather basinet been , terminated. Snow storms oecnrred as late se May, 10. Weather has new so improved that only a very few high elevation camps are af fected adverseiy by snow and ground condition, bee production ia the aaettotains is increasing rapidly, whiie coast operations are gradually gain mg sticks ' of legs sufficient to Insure sawmills eontmiKms eat and permit the usual Fourth of July ahntdown. With nearly aU ramps ran 55 "dioc mon- prednction is geaerally datunated at 9f per cent ef eight-hoar capaaty" t Io price changes have been noted In tu v ?, " Th Prices un aaoted Bssi w sup r a ITeBow fir. No. 1 grade. $20; No. 2 grade. '-"J grade. $12 per thonsand feet ' ? ftc-,1. "d $18 per thonsand feet. I Bproce. No. 1 grade, $24; No. . $1SL ead So. 8. $12 oer tin.n1 fi ' xi urn loc x, iu per thonsand feet .922 Convention of U. S. Bankers to Be The Most Important That the 1922 convention of the American nkera sasociatim- a&JUH tn x.- Tork in the first week of October, win be the . uuiwruut lonun i or ue oiaoaasion oc 1 America's vital nwrial and MonnnTM i i . vaea Btaiee. is the opinion ef backers high in the eonncils of the asso ciation. "Ia. order to give the anbjeots which win eats before the eonventiao proper attention and through (bscnasion," states Thomas B. ma resident of the association, ia a recent state bent annonnring the character of, the meet Jn. "every effort win be nude to eoaeentrmle toe aitenuon of the delegates upon fix bmonees ia. x luntaaas win be ae ranaed with the idea of aaakmg every meeting real forum tor the discnesioM of Bve prob ems. Uelegatea will be eneonraged ta take nart. na a is expected that they will bring to the front every knotty question over which tbe Joraess men of the country are poxxling their UP Kjrw Tort bankers who win act as rta to the eoneention are busy with prepara fe' IZLZ?? " 7000 r ""re ddogates providing for their comfort and atertant HEAVY ISSUE OF : ,: : LATE SECURITIES Public Utility Totals Break a Few r Records; . KTunicipa! Issues Are Also Liberal.' . Be- Wm F. Hessian Public ntiiity finsncing aiaos the first of (he year baa exceeded say amount that baa been floated in a like period. Since the downward' trend ia the price of commodities and Ishnr. pmblie ntSUy eompeaie bske been r'-g Taaiy piuciess 4a their earning powee. . ; . Dnrtng tbe war and the - readjnstsBent period hieb foQowed. many utiiity eorporatiuns were handicapped by restricted rates -and - fares and operating expenses were at - tmnsnal ' brtgtiTa Since oondltaxns have began to tarn to normal and depression ta indastrisi lines has eased ap the money market, poblis nCUity oomperfies have advantage of easier - money rates and ads now financing tmproveaients, and, refunding - their oatetandtnt paper. . While boedc and notaa of these companies have enjoyed a snhstajiinl : ad vaac in market prices, it is predicted that this class of security wiii reach mnch higher levels before the end ef the year. , .; ; , ' Heavy Municipal Bond Volume Along with atiliiy' ficancsng, municipal bonds Iwaed since thn first -of the year aueake tshinhed a record ia volume far a ie lannanliin period. In spite of this fact the amount at these bonds bow oa the market is asoffteasat to meet the demand of the lavestina pabUa. As to whether the tax ex emotion feature - at these secaritiss alone ha produced the large voinmw ot financing, opinion difien. scales and a nidpaiities arc hsxing no difficulty ia pi"r -of their bonds. It i contended that dno to the demand for this class of seenrity and the. fa vorable prices ' that are being , received mu nicipalities are tampted to iasua ' i r "Inn it i ia larger amoants than 4teceBsary. There ia now a resolution before congress proposing riasstitii tioaci amendment perauuing the govemment ta tag the tnnorne from staie and . muoicnpel ae curtUes. It is the belief of many Siaod. dealers that this tax exempt seenrity will te a -thing of the past within the next few years, ; ' t " . ' i-llioi ly Bende Aawanoaf Ia reviewing the sitnatioa before : federal in come taxes came .into vogae ia proauacat financier states that bond of ctatet and mu nicipslitiss then issned were bought and heki by institatiatis and individuals strictly for their excellent security of principal and interest. "The fact," ha states, "that they eoki taem oa a lower basis than railroad beads of - highest grade in dicated their superiority in posst of security alone. Tax exemption was worth wnrfrinc and there was, there! ore, no element to obscure valnea" The recent advances in liberty bonds and Vartory Botes has been very graUfyine ta the millions of holders throughout the United States. The first Liberty 34'l which soid as low as 8$ ia 1921 are now around 9&.40. The first can vertable 4)a'a last jaar touched ao.24 and new stand over 89k. 5 a. . Tbe second eaarertioje 414's which went down to 85.40 sra now ia the neighborhood' of 09.60. i The f earth Lib erty 4 "s broke to 82 Oner have since ap proximated par. AU of the Victory tasoes hare crossed par. Advances throoghoot the Liberty list range from 6 to 18 poinbL The rise to data bss improved the position ot , through. oat the country to the eatent of over $2,000. 000.000. Trade Imprwvcensnt Reflected The improvement ia, general anaiaeaa since the first of April is reflected ia the aggregate bank clearings of the country. April clearings at 110 principal cities of the coon try totaled 830,528, -100, 87, a gain of 12.4 par cent over the $27,168,210,744 of April 1821. The mrge ope rations ia the securities markets were an im portant factor ia aassaeating the olearsoga. Retail trade ia Portland b nvg a favor able impreeaioa with that of a yean ago. aeaord ing to Doa'a Beriew. Th jobbing bmraoees is fair," states the Beview, "Hannfaccarers report an improved demand for furniture, radio and other electrical appliances. Heavy buying it the feature of the lumber holiness, with prices firm." WALL STREET STOCK QUOTATIONS . , Eeported by The JasriaeXC Wall Street Bureau j 4! Sew Tork, May CL IT. &. Ta stock market eoatlaaad ,troaa; la tha lata 4eaLUaga avad elesed gtroaa-. JBXaay ot tha rtUlroaxel gaares wax la laxRw -ntaao. Texa eV Paelfle roaa mtntrtT S IMlats to 11 ti Sew HTe WacJica S3. Uaitad states Steel Bta4 a mnyr blark for tha yeatr ia tbe last .'lew aala atea at 13. General Matara eaatlBateel trams;, adrsaclnsT to 144. Tha Oil Stock &Uw CkWd SV aWttflT toae, XexJeaui fetroiasm koldias an tSa. j ' i Governs eat ttoada. aaebaa$-d; rail way avad other feoaela ativatar. I i. - - - i , Total sales today war SOSOO skaraw; for tbe week, 7gr8MM shares; beads todar $8,6i9,0uj for " Vim week, SS TOHK STOCKS New Tee. May 20. SVnloWTng is pm xsh ex ssocx saaea lor the low aad earring prices asa given j DTDT7STRIALS I Bisb, H Vi ii - ' 1 High j Low Ctose Chnje. Adams Express . . . Adv. Bnmley. . . do pfd Air Beductiaa. . . . . Ajax Ituhbtr.. ... . All - Araericaa Oablei Allied Cammiral... do , pfd. ....L i nsiiaies k . as "pta. Age. Chemicsli Arg-entiae Wheat Situation Baeaos Aires, Hay 20. Weather eoorBtioTjs favorable for the plowing for new wheats Sariy prospects ale considered quite good. .a 4 Subject to prior sal. we offer oar phrticipation in $12,500,000 Commonwealth Power Corirtration 25-Year 6 Secured Gold Bonds (Closed norteuM) Dated M, 15, 1922 , Duo Mtrw ,5, 1947 Callable at subataaitial premiums. Deuominationa S1000 and $500 COMPANY AND TERWTORY- Commemwealtb Power Corpora ?a7i caH.hrte OB of W Pbl atiKtw oraxdzations of the United State. It will aerwe 175 munipaJiti. havine . population of otot 1,150,000 people in tbe states of Michig-a, Ohio, Indian, and IUmoja. Over 92-5 of tbe gross revenue, oftbeao properties U derived from tbe sale of electricity and SECUff3Y will be a Urwt obliotion of lb. cor- pofattoa and wifl constitute tbo fresxior funded debt. Pledged aa ffr for hnd wiU be U of tbe common stocltTof tbo ubsida-ry compaiuos witb a par walne of ore, $27,000,000, VtT rifS'r tofk of.Bbi-Jries witb a par walue of over $5,000,000, tTinw tbe collateral total par value of about f32.50000 TWo stocks wiU be pledged, tblrXa. .t leT.1 tnaa 39 of their par value. EAIttaN(--Tbe combined net ejarninws available for deprecia taon and for dividends on tbe aecuritjea pUdft-ed ware for tbe 12 montks ended Marcb 31, 1922, 5.93 time, annual interest cAargea on these bonds. Tbe; same earnings averaged over a period of 3 years were 4.4 times annual interest cbarges on this issue. Application wiU be to list bonds Exchange oa New York Stock Price: 90 and accrued interest to yield , KENDALL & CO., Inc. m CLARK ImA- 80 12, 88 63 6 16 754 0 121 H 136 101 12H 81 o6 k" 106 83 65 ' dot pfd. Bank Note... Kin pr o- Asa, Beet Bazar. p.. Am. Bosob at . . . .. Am, Br. Shoe.... do pfd.. . ...... Am. Out do pfd. ........ Am. Chicle. ...... da pfd...- Am. Cotton Oil. . . do pfd. . ....... Am. Draj Sjndioatej amencaa A. IL & I,. , do pfd.. . Aroricn Ios . . . . J108 107 uo pro......... 82 "4 Asnerieaa Ia FTanoe 1 8 Americaa laa. UU . S do pfd. Z.. 68 H Am Bad. 108 Am. Safe. Basor '. ?H Am. Ship, at Con. IT Am. Saoff . ...j. . 132 Am. Sttrar ...... 76 do pfd. 103 Am, Sumatra .... S74 do pfd. . S3 Ant T. A T. .... 122 Am. Tobacco B.. . . 138 do pfd. new .'. . 101 Am- Water Works. 12 do pc. pfd. . . . 32 i do 7 pc pfd. . . . 80 1 An. Wool . .. 93 do pfd. 106 Am. W. Paper pfd. 35 .Assets Realty 1 Assd. Dry Goods . . 66 do 1st pfd. .... 80 do 2nd pfd. ... S3 Aatsd. Oil . 12T aU Fruit 4 1 Art. Gulf W. 1. . 88 do pfd. 28 Aa Bfg. pfd. ... 115 A Use Tack . . 20 Aastia Nichols ... 28 du. pfd 84 BamsdaU (A) ... 50 .do. (B) 34 Barnet Lea 50 Baynk Broa. .... 60 li Booth xish ...... 6 BrkJn. Edsn, .... 10S-' Brkln. IT. Gas ... 104 1 Brown Shoe ..... 52 do. pfd. ...... 91 Brunswick On. . . ; 4 Bums Bras, A . .. 13K do. B 44 ; Bueh Trm. pfd. . . J I Btrek. Co. 29 Caddo Oil 18 Calif. Pkg. T9 Calif. Pet. R7i do. pfd. ...... 96 Cue Flow Wks. . . 4 Cent leather ... 81 -oo. P . 78 : Certain -teed ..... 81 ; do. 1st pfd. ... 85 ! ; ChandTer U.C. ... T5 Chi. Pneu. Tube . . 5 j do pfd. 1 94 Coi. Graph. 4 do. pfd. 18 Coca-Cola, etf T 59 CoL G. & K. 89 Cbmput T. R. . . . . 68 Cons., Iwtributoni. . I ww. vicax. ...... i Zl do pfd. a Oam. Gas . ..118 wnt fJa I 99k ? Pfd- I TS Ooaden Oil I 45 Oorw. TextDe j 14 uora x-roouocs. .. . .iioz do pfd. , . Ul6 : Orw Carpet. ..... 145 uuon u. sugar.... 1 it do pfd...... 86 Ouba-Am. Sugar. ..f 25 do pfd. 83 rkaviam Chemical. . I 60 Metros fcnwm 108 Katzaan Kodak Oo. 77 Kec. Storage Bat. 44 KlShorn Corp 21 Einerson Brant. ... 8 ' do ' pfd. 29 Endicott, Johnson.. I 84 ao pta. iiii , . Fairbanks Co...... I 18 Itmoas P. L,. .... 82 do pfd. 1 94 6 18. 47 55 17 116 68 a 98 39 S 71 62 44 45 61 . 106 48. 1 12 34 29 69 : 6 iS9 16 71 63 16 46 3 1 65 167 - -97 37 4 70 40 43 60 46 104 12 83 26 67 5 !. 1 i. 15 68 8 108 SO 98 37 64- 44 45 . 1 w e a 48 106 12 83 28 67 ' 6 139 If is 71 1107 82 18 36 67 102 7 16 76 85 63 122 137 101 12 S3 92 106 35 66 124 3 85 25 114 19 24 84 42 33 ' '' ia 48 6 108 101 45 90 4t 1S3 39 96 26 12 78 53 06 4 27 69 47 TlW 64 "4 16 57 87 63 27 65 116 64 73 42 13 99 15 88 21 90 58 106 76 42 19 82. 110 "e'6 93 4JH 18 47 54 ? 124 87 28 114 19 27 84 49 33 "is" 6 107 102 Q 1 4 134 43 97 28 12 1 8 66 96 : 4 30 73 I50 - i ! 65 "4 17 59 88 66 : 29 66 116 66 73 44 14 101 I.... 4 4 . . 17 : 85 25 92 58 108 77 44 21 83 110 :t 61 94 k'v 4 -- 1 ? ibersody C F ! a Ohio pfd. . Inke SebfcnT ; . . rreeport Tear, i . 4Uut W. W. TJ. iaca.w.Ajraal i 1. rj ,. r . ie.;srfd.i .u. Gea. Kiae. .-L. Gen. aiacoa . i da, pfd.; do. p. a,; pfaJ I oa. 1 at a.! BXd. Gdrcb. ; Run. - - . , Y do. pfd. ,i. CBtasu. Sua. . .. Habirshaw 1 . -U... ifendea ......... Hoastoa OQ Hupp afotex ..... lat Age ........ i dot - ...... tncUBneata ...... Iwsjaam ktef. brt lirr. Marina: , i do. pfd. Int. Papee ;;.. I do pfd etpd. .. . Ir.-rmable Oil , . .. . Inland Oft' ...... Jewell '.Tea. U..;. . Hones fcrea."" 1111 Jni. Kayser 4V Go. Kan, ae Gulf Oo. . Kelly Tire . . do 8 pet pfd.:. . Kebey Wheel ... KevMene Tins: .. . Kresgea . V . ladede Gas ; . . le Babber . . . . . Liggett kCyara .. Lowe's etf. . . . . . Laft tee. I cu;.... Ijeoseriles . . . Lori Oard Oa i . . . . ktackay O ...... do pfd, ...... MsUinson . ...... j do pfd.-i )... Manhattan Shirt .. iUniti Sugar . .... do pid. ....... Harhvad OH ..... Martin Rock . . . . aaanbs-Parry Oor. .. Matnieoa Alkali W. ataxweU Motors A. ! 'lido B star Xrpt, Stares.. do pfd. ....... ktex. Pet .... Middle Btate Oil . . Montgomery W'srd. . Montana Power . . do pfd. ..i... . Mullfoa Cor. ..... Nat Acme , Nat BiNcuit , da pfd. ....... ffat Cloak 4k Suit. Nat Conduit . . . . Nat C ex 8. N, T. Air H. Y. Hock , do pfd. N. y. Shipbldg. ... North American . . j do pfd, d rts. , Normally . ... Ohio Fuet Sup..., Okkv P. A R. . . . . Oliio B. A B. . . . , Orpheum. etf. . . . . , Oat lUeraUir, ... . do pfd, Owea Bottle M. . Pacific It. i Oor. . Paa. Gas ! e aOoa. . Pacifta Mail..... Pacifio OU.J..... Pac. T. ek T. . . . Pan-Amerioaa, Pat, " do tB) . .i , Panhandle Pet. . . Parish-Bingbsm . . . People's Gas.. Phils. Co. ....... Philip Jonas. . . . . . ii do pfd.. . .. . . . . Philips Pet.i Piuroe Arrow . . . :i do - pfd. Pierce Oil........ do pfd.,.;..... Pitts Coal..w !i do pfL "Pond Creek Ooal.. Prodaoem as i Bet. . ii do pfd. ....... PabJio Service N. . Punta Alegre Su . . Pure Oil ctt do. pfd. .i Rebi etf. 1 . Bam. Tpwrtr. . , ala. 2d pfd-. . . . Rep. Mot -T. . . . Bynlds. Too. B do pfd ...!.... Boy. Dutch O . . Sut. Ccla, Sue . . Savags Arms; . . . . Saxoa Mot ; Scare-Boebaok do. pfd. J..... Shell Trans, Co. . . Sinclair Oil i S. Prt Boa- bug. . Standard i Mill pfd. Stwrd. W. Spd. M. Strombarg .1. .... Studebaker ...... do. pfd. i 8ub. Boat i .... . Sup. Oil Stnd.. Oil Cal . . . Stnd. Oil NJ J. . . 1 do. pfd. i Sweets Go. i Ttxaa Co. I Texas & Gulf Tex. Paa. Oi ex O. Tidewater Ou I Bigh Jjam 1 Close Ckng. 118 114 11S 4 96 95 96 16 17 17 Z2". lt 21H S flh i 1 s 4 5 S2 1 96 ! T8 Ta 3 73 8 1S5 ..... ..... ioi ia ii .... . , 165 162 164 - 14 12 14 62 81 3 1 S3 31 82 !. . 93 9-4 5 1 41 40 ' -41 -) ' 17 16 3T l 2 iO 12 1 2 1 1 ---: 20- 20 f T9- 77 79 1 tl 19 20 l in 10 11 i 41 4 41 t 14 4 4 i .8 8 H -U 87 36 37 1 97 103 -f iw: .. ..... -1 ti' 22 23 ! S3 81 83 1 62 49 52 1 S( 7 69 ! 18 17 18 . ' Jt --1 1 4- 20 20 2 71 71 71 4 81 42 46 43 44 -1 8 '4 5 63 49 52 1 102 . 102 102 - 100 98 99 1 S3 19 23 146 137 139 1 79 75 . 77 -1 ; 34 32 34 169 166 ! S IT 1 l 1$ 13 13 . 43 45 48 3 159 157 159 7 92 90 90 -1 . 6 65 ;a -t H4 B0 23 3 84 e8 84 S ;t 38 38 - t 44 47 ! 74 74 74 ... .. 33 80 32 21 21 21 '1 34 S9 83 a SO 28 30 2 74 72 73 24 22 23 1- 11T 116 118 - 113 113 113 .. . . . 137 127 136 5 13 14 15 23 81 23 1 75 71 ?3 108 108 ros ..... 31 80 30 18 18 18 -1 .156 143 148 3 119 117 117 -1 39 89 89 . 8 12 2..... . 48 40 42 .78 74 78 88 S6 37 2 62 60 62 3 . 21 20 21 4 . 59 67 58 . 43 143 43 7 7 7 ..... . 10 10 10 i- . 50 50 50 ! . 3 I 2 2 - . 11 11 11 i . 31 19 20 . 136 136 186 - . 99 99 99 1 36 86 36 .... . .ill 9 11 . 71 70 70 1 . 13 113 13 -1 . 6 63 64 ; . 66 . 56 58 - . 67 63 68 2 . 59 56 59 8 7 7 7 r- . 13 11 13 i . 86 85 86 . 89 38 39 . 87 86 86 i-3 . 89 S9 S9 - . 49 44 48 4 . 20 17 19 - . 41 35 39 -2 .11 ! 9 10 - , 68 54 57 8 . 63 61 62 I . 93 196 95 , i21 20 20 .. . . . . 45 137 44 5 . 47 48 47 2 It 89 86 88 45 89 44 38 32 82 - 103 100 101 - 17 17 17 -t .1 64 831 83 1 1 67 i 67 67 -2 j. B1 7 8 47 45 47 .1118 112111S 1 64 61 63 6 8 4 20 19 19 .t... i 8 ! 8 3 - 76 73 76 -2 105 ' 102 105 4- 46 45 46 - 86 81 86 f4 49 45 - 49 4 91 90 90 1 . 41 40 40 34 62 68 - ; 121 114 120 3 111 111 ill 1 6 4 5 l',i 8 7 7 - 117 112 118 i-1 189 186 188 2 115 116 115 4 3 4 -1 48 47 481 - 48 43 47 4 . 81 28 30 1 . 13 ' 13 13 ...... GOVERNMENT VIM iOfflS DECREASED War Loan Retirements ; Made in April. Show Large Decrease - From Month of March. ? The gmemmerit drrriaa; tha month of Aprs. retired war loans to the amount of 358,464.050 compared with $674,194,400 ia March. Re ductions tn March were stimulated by refusdiag exieraxiona by . the aecretary nf the treasary. whereby he assaed S617.767,70; fbnr-yw 4 per oent tmaixiry eartiGestes in jeaoaaaaa far VKrtory notes. ,; Apia was the first rsaonth m the current, Cscal year where Victory Botes did as lad the other issaes tn the ammiat retired. The chief esaraOona were ia the third Liberty lean Ponds with 334.83 1300 cosnpered with $23, 082,700 Victory Botes, I ' j , :i 1 Ia tbe last two months the treaxnrv has been buymg an larger amounts of the third Liberty leaci bends bees nee of its approaching matarity ia 1923. la March and April the third loaa was reduaed by $59,628,900. , : I Oa April SO there were outstxnding 1280. 78.600 of Victory 8 's compared with 3295. 694.80O on March SI. This same has been called for redemption Jonev 15. i The treasury U redeeming this issue in adraoce of tha aailed date, -and aosordiag ta tha saat gtatcaaent at tha treasury the advaace atdemptioa. aaooaats to 88O.000.000. I High f Low 6lose 1 Tub. 1'rou. . . . .; I do pfd. . . . Trans. Con. Oil ... Vrt.i Bsg A Ppr. . . Cniou Oil Union Tank i do. pfd. tjn.1 Cigar Stores . . Vu. l m. Bjnd. j. . . I do. 1st pfd. t . . VnJ I"Tuit Co. !; .i. Va. UtX Stores . . . V. S. Exp. . U. S. Food Prod. . TJ. S. Ind. Alcohol' i do. pfd ...... tt. Su Keelty TJ S. Rubber . . ... i do, lstpf,d . TsHr Ch. do, Pfd. ...... ya t c. a ... I do pfd. ....... Vivaudoa Hebber & Heilbrn Wells Fargo Exp. . Western Union .. i . W-yraari, Brutea Oo White Ofl ... . . 4 . H'il-wa A Oo. . .. Wfltys-Overland ' 4 . dO pfd. ... , . 4 : i WoU worth ..i1... . Worth Puma -r i -4 . do pfd. B. . . . i . Wright Aero 74 06 19 67 22 100 106 155 SI 45 143 67 6 6 55 U5 71 5 105 33 75 S9 72 13 15 79 98 4 A U 10, 46 8 39 158 53 78 9 93 l 16 66 21 1V0 ;; 106 i 147 j 72 aR u 139 57 : 6 4. 49 92 67 : 62 104 80 TS " 55 71ri . 12 14 79 i 97 47 9 48 '7 38 157 50 78 : 8 73 96 IT 67 23 100 106 155 73 45 142 7 S 54 94 70 84 103 81 74 57 71 12 14 79 49 9 39 158 62 78 8 METALS ' AND EQUIPMENTS Chng. SWISS PURCHASE 3 LlBER lilRECT Outltok for Futare Consumption of American Lumber Switzerland Poor. in ! ! . wv A. M. L I f Caitad States Vase tJonsal. Eurtch , Tba euUook tor the coasumpOoa at Aatarioaa lumbar by Switzerland la the nsar tutsre Is (vary swor. . This cemditsoa st aaostty due as tha great ilamseloa ia tha- building and furniture tadas trlea. in which' anntbera yelnrw ptne and. aaa- hbgaay are assd to a creet exteat '. rrrlrht ratea and tha exchange are again khe Varted States whan eesnpeOJxr with African axahogaay and Buropeaa ask.: Owing ao the loerer freight raiea of pre-war tunes. Amerteaa oak was cheaper than S wwe oak and ooasadered mora desirable. MODERATE PRICES ; BRING BUSINESS American 4 Merchants j; Discover Trade Is Not Bought With High Prices.1 Range in Prices of Liberty Bonds and Victory Notes During the "Past Week Liberty SUs, 1S32-47 ...... Liberty first 4s, 1932-47...... 4 99.70 -J' lira 4a, laz-47. ;....... H9.14 lJ'bet1T gecond 4a, 1927-42........ 99.sl Liberty third 4s. 1S23..., xiDerry 48, 1933-38 Victory 4Kb. 1922-23 .... Victory 3s. 1922-23 4.. 295 STARK STREET PORTLAND, OREGON Ore gon Municipal Bonds Yield 55 S.30 WE OWN AND OFFER 4 r Due City of Sherwood Water 6s J ...... . 1925-33 City of Weston Gen. Obligation 6s. .1924-32 Clackamas County U.5 H. S. D. No. 2 Negotiable Interest Bearing .War- . . rants, 6f ... .... . ........... .1928-33 5.00 EXEMPT FROM FEDERAL INCOME TAXES To the conservative investor who desires the best of security and is satisfied with a fair tetxxm. : recommend the above issnes Western Bond & Mortgage Co. 80 FourU; SV Portland, Oregon Ground Floor Board of TradeBldg. TeL Bdwy. 6464 : .Telephone or Telegraph Orders 'Cbliect " 1 . 99.90 e; 4 ;t9.9) ...... i. .ido.60 .........loo.oo Tufts. ' 99.84 i 99.70 !; 99.38 i 99.80 i 99.58 J 99.92 i 99.86 I 100.63 ;i 100.02 Wed. 199.82 i 99.70 j 99.60 .199.76 i 99.58 j99.90 99.88 100.68 100.02 -r- I ! Thttrs. 99.88 99.86 39.52 99.88 99.62 99.94. 199.90 100.70 100.00 PrL . 99.68 99.70 99.52 99.94 99.7 99.94 99.94 100.74 100.00 Bat 99.70 199.56 99.86 99.70 99.94 S9.90 100.78 100.00 NORTHWEST! BANK STATEMENT Monday .. Tuesday . Wednesday Thursday . Friday ... Saturday Monday Tuesday . . . . . . .... ........t . 1922 8 4.839.443 5,222,493 4.927.424 a -wm m r iriouuay 5,726,146 r0TLarlD BANK Tleannr ' : ! 19Z1 9 6,167.088 4.456.815 4,881.842 4.160.479 4,074.920 3.794,407 .. 825.2 92.0r .........4 Wednesday rrl i n ' 1 ' T 1 " J .......... Friday Saturday ..........4.. Oaal 1923 .? 5.4T2.945 .. 5,431,998 4,967.903 5,450.807 4,684.369 4.874.631 SefaTTLK Week 4 ... 331. 002.07 3 S28.535.O03 Mass BANKS 1921 3 4.954.066 4,990,691 4,263.990 8,962.681 4.330.589 4,851.183 jS37U53.20a 1922 $1,105,835 1.176.973 1,072,486 L0O5.781 Holiday 1.298.398 i i 85.653.920 1922 (1,393.730 1,036,983 1.998.351 1.165,284 1.291.746 1.186.401 87.1.7 0.504 1921 I $1,303,970 620.297 1.162,095 770.158 862.168 794.523 $5,513,213 121 91,638,088 893.523 .804.986 950,370 1,258,685 1.250,140 $6,795,642 Alaska Gold ..... . Alaska Juno .....I 2 I 1 an. Oar imrj. . 4 1 0 1 ri 5 9 do pfd. .....f .1120 120 Am. Loco. jl 15 11S do pid. .....,. ll llo B Smelt. ...... 67 58 . do pfd. A. .... 02 aS2 do pfd. .....i. 98 96 i Am. Steel Fdy.f ...4 89 37 dO Pfd. ....... I :,; Ziro i 21 18 ; do pfd. ....... 4 44 Anftconda Cop.; . i . 65) 62 Baldwin Loco. ...1118 114 j do pfd. . ...... 110 llltt i BxtoptUs Min. ....) 1 1; Bethlehem Steel ...I 77 I 73 do B 80 76 do T pfd. ...) 99 04 i do 8 nfd. 12 f. lia: " British K. stl. ....1 11 11 ;f; do 1st pfd. . . , .1 77 75 do 2d ofd. 1 29 f 27 iButte Copper .....j 8 6 Butte A Superior.. 83 j 30 auanan EUio .... ICaL A Aria.....;. 63 69 Carson Bill . . . 14 14 trro de Pasco Cop. 39 87 Chfla Cop. 23 19 Chlae Con. ...... 82 28 rOolo. P. L . .... 87 83 ICrucible Steal ..... 76 70 do pfd. ....... 93 83 'DeBeara Mine. ... 21 20 Tome. Mines ..... 28 27 Fed. Mining 8. . 16 13 do pfd. ....... 03 44 Gen. Am. Tank Co. 65 63 i do pfd ....... 09 . 98 iGranby Min. ..... 32 28: ilirt. Nor. Or. etm. 41 40 Ureene Uananea .. 34 81 iCulf SUtes Duel.. 86 82 liomretake M. .... 72 70 Inspiration U. .... 43 40- Int Jom. Eng. ... 26 25 Int. Nickel 18 -17 do pfd. ''.-.., 82 82 Iron Products ... . 84 80 Kennecott Copper.. 89 83 lAekawanna Steel.. 61 77 Lima Locomotive. . 110 106 Main tyre Por. Mia 18 17 Miami Cop. 31 28 Midvale Steel ... . 45 37 Nat. Lead ...... 96 j 92 da pfd. ...... llv 109 Nevada Cons. .... 18 16 Nova 8. S Ss 0. . . . 34 29 Ontario SUrer ... 8 7 Otis Steel ...... 15 14 do pfd. 64 64 Pa. Seaboard ..... 12 11 do pfd. 93 89 Pressed Steel 79 79. do pfd. 97 - 9T ' Pullman ........ 123 120 By. Steel Bpgi ... 100 100 i do pfd. ....... 111 111 Bay Cons. ....... 13 16 Band Mine ...... 28 26 BeprorW 8 ted 88 88 Hep. Iron A Steal . 76 68 do pfd. .... 93 89 St. Joseph Lead... 15 15 Seneca Copper ... 14 18 Shattuck. ArU .Copl 11 8 BkM-MDexiteld . ... 64 1 48 Superior Steel .J.. 35 84 Steel eV Tube pfd, . . 83 : 83 Tens. Cop. tc Chem. 12 ( II i. nras. sreei jr.l 44 I 42 CnJted Alloy StL . 40l SS U4 8. C. L -F....1 86 33 do pfd.........J 71 69 TT, 8. 6 melting. 45 41 do pfd. 46 45 V 0. Steei. .. ... 102 97 do pfd......... 118 117 Utah Cop. ....... 68 6 Utah- Securities.... 18 17 Vertadlum . . . 53 4 7 Wiekwire Steel, j... 21 10 ,1 161 120 114 115 5 82 98 88 90 20 48 56 117 110 1 76 7 09 U 112 29 7 83 9 63 14 39 23 $1 84 73 93 21 28 IS 62 63 82 41 83 85 7a 42 25 18 82 83 38 78 , 110 17 80 41 94 110 i 18 84 8 15 64 12 89 79 , 97 ; 123 100 111 18 i 28 ) 86 72 91 , 14 f 10 61 85 88 12 43 38 85 70 44 46 101 188 67 19 51 19 5 4 3 -1 5 5 2 8 - 5 1 3 I , . . . . -1 -1 6 -1 - - " -1 - -1 :i T - - -! : 7 1 - - 2 4 8 3 -2 -1 ; ' !.- "ii" 1 2 1 If 2 2 a - 1 - 'i 3 8 1 i rs . - 2 . - "2 - ; i 6 - - 2 1 2 "i" 2 : - -1 2 1 1 2 1 -2 '-2 :i n -i - -i -2 - 1 4 1 2 1 We Own and Offer Pacific Power & Light Company .r ins. i.uorxgag:e.avt7 uoia isonds H.iit , i i ma Aiinrtier T ' 1 Urr -e3 a, jl-v w . to yield- over 6 Amalrnated Sugar Company First Mortgage 7 Gold Bonds Duel April 1,1937 i5: f toi (yield 7 We recommend these bonds for investment. - INVESTMENT OONDS tT SIXTH STRCtT ! PORTLAND. OREGON . BROADWAY 1042 1 ; GROUND n.OOr WCIXSTARGO BUttOINC - '-d,.ft. -j, . lb M vt r t nnn Arbor pid. . . Ai a l AU. Blrnv. A AU. A T. A S. F .. 4 . do pfd. ..i.,. B. A O-....... do pfd. b. a. t ....... . do etf.. Buff. Koch fSan. Paa.. Central . . a eV A.. j do pfd. ...... a C. C. A St, L. do Pfd. . . .'. . . a A E- L .- do prd., aee t 'I. W . do pfd. . -, C. M. A 81 P, do pfd. RAfLROADS TT we. eV I ,r a N. w j-if 4 iteal 4 I At ttftf y ' . es v,. . , .: . , Oalo, A Sou.' . . Ui & I A P. ii do. T n-. a, pfd. do a a, a, Did. tt 8. . p. m. v a do., pfa. " ,:1 .,4, t. 11. A Hud. ..... tt. U A Wi ...... I. 8. S. A At, .. da. pfd. U . . Erie i . . i dO. 1st pfd; -J, -. in. 2d bfij V. O. N. pfd. i . i . . . . Oo!f. M. & N. ao. pta-jr-i IIL Cent. .: K. C. fjorrth do. pfd. . I... Lets E. Wr .. do pfd. ..i... Lehigh VsJL Ii. A N. , 1 . , . Men. Kiev. Guatv Mat. St. Ky, lo pfd. . 4, rf do 2d pfd. ' do pr. pfd. Minn. 4k tit, ti M. StP. A K.S. M. K. A T. new i do pfd. .. .ii . lie. - Pae. : i . i . i da -ltd. .-i. Nat. R. EV. Max. 2dl pfd. ..'.-. K. O. T. A Me. N. T. Cent. ...... N- T. Out. A BtXL it 2d Tfd. , . -. . N t N. H. A If. . 47 102 4 100 91 48 61 25 22 63 143 186 8 16 66 83 3 87 22 2H 45 79 63 67 50 46 96 . 63 -65 97 122 129 .4 4 24 17 78 17 36 105 ; 28 58 18 37 65 119 50 8 68 ' 28 ;i 03 13 o 12 42 24 .. 5 SH 91 71 TT 35 101 3 09 90 45 24 21 68 139 185 ' 15 65 88 38 55 8 20 24 41 14 64 67 , 4 41 94 81 05 07 121 117 4 v 18 21 1H 7a 16 36 not , 2T oft 16 83 61 lift 49 7 61 22 61 . ia if . 60 ' 11 - ,42 65 '6 8 69 ' : 7r, 28. 102 8 UOOi 91 48 61 ! 25 22 63; 148' 185' 7 f 0 60 88 30 66 9 .22 2 i 45 75 65 i 67 50 46 96. 82 65 07 122 117' 4 15 24 17 7T 17 86 104 Zt 58 18H 26 84 119 60 8 23 62 12 60 12 42 24 61 5 8 91 71 TT ' 28 2 - i 1 . - 7" I? i i - i 2 2 ef 0 t ei I '10' - 2 2 2 2 2 1 1 , -; .e-'M - . . u m r . e u 1H 2 ' As regards the lumber analkat, the eensul to Basal reporta as tollows:-. : ..; . . . - i The aatlook aepetids f or the time upon the rise ia eoeaaaee values of toe moneys of the varioaa eonairiee of export. Ao aoac aa tbe Bvnss lumber importav can purchase 1 amber at tta present tow vriee ia Jurope aa WU1 sabstttate that lumber tor Anwraoaa lumber, almeat lagard leae ef- QaaHties. especaUly in ConatruoUoa work. Formerty Americaa eak. gsaa. ash, soatherai yel low ptaa arid IDouglaa fir were used axteaatvaly tor aaah and doara. raflraad and street ear seats, and sabinetwet. Near, domes tie and fiurupean pine, althoagh much inferior in quality, as being suBBtituted. Owing to the gsneral fiaaacasl de prenasoa, tha aBanufactara ef furniture and i eaa taeta has deeiaassd ta a point where the lure peaa supply of walnut is act eoasaased, rtr nseriy much of tha furniture and cabinet rnaau faetarlag was dona with htgh-grade Amerioan hardwoods. fOow none at being Importsd from the United Btassa,; The cheaper grades of Uer man, Hungarian and owtas oaks are being sub stituted for tha better grade Americaa eaka. The lumber dealer of Basel state that fir lumber can be purchased in Uermany and brought to nwitaerUad for atea than the eoet at fraight from tha United Statea. . , , i Aduptlua of. saawlu Syvtem Orwed i AO large lumber dealers in Bwftserland are unanimous ta recommeriding tbe adoptioD of the metric measuring system to United State ex porters, citing the case of Japan, which country, they claim, has greatly Increased its sales Isinoe the adoptioB of that ayetem. Very great stress was laid on tats point.. and it would most prob ably be ef advantage to American lumber ex porters ta ate the metric system wham auoUng prices to Continental jearopa, , t ; Conditions AfTecUno Ifrnarta from AmaHca ' i Only very little lumber It Imported directly from the United State. Whea ordering directly the local dealer must Order in oiavntities Which at times exeeed his needs, and the terms are such which aiBiaeitatta his payiag for tha lumber aeiore aa naa leceivea it. There have been complaint from several Sources that Americaa lumber exporters have act shipped according to eraera, wemaHas or samples, ana nave re fused ta edjtnt their errors erter delivery. I The repeated oocurreaoe of such eases has tended to discourage the direct importatioa of Americaa lumber by Swiss dealers. In former veers imneh ef the Amerteaa lumber need la Bwitxeriand was secarea troa aesiera tn lndon. Livernool. JHam- barg and U rumen. Today Bwttaenand obtains its supply of Amerioan lumber chiefly through tbe intermediary of lumber dealers in Mannheim. Kotterdam and Antwerp. Smaller quantities are aiso received from Amsterdam. Uenoa. Maraellles and La liarre, bat very iittla from Lando and ivarpoox. ; , u ' II Trnalppino point for AmortcM LaaiW . ! Kotterdam la bv far the ssoat hnnuiit kv.M. shipping point for Amerioan lumber desUned for owiTiwntna, as irom tnere it eaa be shipped by waterways for the eatire distance ai a'lmueh smaller cost than bv anil from cj.t wh, k- lean lumber ia also purchased by Swiss dealaa in wo im pun ot ssannneua. to wcicn city lumbar a vnaam uj ui auu rrota eMttelaaia. li Bviai deafcrt prefer to purchase tamberl frora aarents or importers ia hiurope. which procedure enables them to personally visit the lumber mar kets and buy in such Quantities and the quality they deeire; also giving9 them the opportunity of examining and verifying the raneer before paying for It. ia this way aU possibility of lumber being hipped contrary to order la eUminatedl j! Luraoer tt deuverea f . o. b, car or beat In the city where it is bought. The usual terms are 2 per ST . " . or o ana even a moata eredlta. peelers in Mannheim quote prices a. - i. f. ejwitser- maa. u tne parcnaser so destraa. Heverali large tumoex aeaiem in tan uistnct woo Id be more inclined to purchase lumber directly front the linitod SUtes if Americaa dealers would extend uv ws 4IWHH am. terraaa aeeiera. j Varieties ef ! American Wood Meet In Demand ! The varieties of Antertcan wood for which there is usually a demand in Kvituriii southern yellow pine, Douglas Or, oak. Honduras mahogany. Tabasco mahogany, and walnut. The lumber dealers in Holland, rrance. Italy and Uer aaany are said .to import wood chiefly in beams, which are either forwarded direct te thai Swiss purchaser or are renewed Into boards eat aa- ooruing te tae purchaser's spectflcatioaa, which vawieery erder. la addition to wood im ported in Deems end hnanta n i. Ported. The demand is for Honduras and T abases mahogany and walnut veneer. There 1 only one factory which produces veneere in Bwitaaraaad. located at Uohrbech. in the Canton of K. ' jj aoutheca yellow pine when used ia the build ing trade meets with nraerwn. i ... eompetition, owing to its superior quality. When used for Joiners or cabinetwork, howeverj it is otten supplanted by fir and larch. TJurefore. 7. ,Jl uemano taere as for American lumber At the present time is tat southern yelloV pine. Bonds! Eeactiqnary ji Ib Vveek's Traamg; v ; Eealizing Sales' oad more or tHoon rvf arfeee daring the last lest rveouooary K. L. Ievraux statea COL were "This upward teead; f teeestaM ef . tbe year and really eaasw for alarm oa the I fje A. O. Posts. ' ' "j.; Rpedal Oorreapoadent - of Tbe lowrual ' Vew Tork. May 20. "Stop, look and K- tnl"-aUT ba a am esse it sdmnniiinn at railway ereaalncs, but tt is ao longer ncpeaiery to flash that waralag te tbe Amerman bn a n ess sua He. eaa aa tateatioa eg aetng ran ever by Urn ears ia 1923 if caution will avoid it Por a time bastneas men were- forced to -step." -Then they found it advisable ta took and 'they east close scrutiny en thai annuel and ansately. statements their ewa and their competitors'. Ever since tney nave been listening, listening closely to toe jingle of the eath reenter. They have discoe erel that pleaainc tymeante kymphonr ! plays loudly oaly a tha tune of aaoderate prioes. - ' The anamsl sad ssnnthls ; atkta nwnta ' " have shown that prof its may not be in increased sale or : Mvaaeea price, bat in reduced operating expenses and . lessened eorts. . ConseqtrenUy the ear nf rrrrT Tiiiiiinien man asa Ihasn tamed to easea the alt ef the melody which had for Us refrain the liniiiriina of costs without the rasa- trig , of prices. Scores believe they have caught we ngnt nets m amaicsmaaoa.) - - :' - saareara Order ef Oay 'Yl'. Mereere are the erder ef the dav. It 1a not the mercers of the tnf conptua engaged te the basic Indnatnaa whica -eounb most, althoueh those loom largest ia the public eye. There ar hundreds of roergers now ia pfoeeat ef tiatioa among coaeerns : whose i stock are not aoUve la -Wall Kreet. bat ahosa roods are ac tive u to wareaouse and ooccsiaed treigat ter minals of the commercial centers of the country. These-smaller mergers are beine made without regard to the f stack market. ' They are. beirat negotiated to ecoomnliah eeonoauea- in produc tion nd I diatribution. Thev adv every eri- deuc that they will acco mulish their purpose. but; their effect will not be apparent even to thoi participanta until May monthly itatementa have been oomnfled and digested. - However, they give abundant evidence that the business men ef Amerioa have recognised that the buying and eoasaaung public has no intaatioa of submit ting te another inflation ef prioea and that the future for some time to oome will be a i period ot naxrow prof ita and keen competition, ."'si -if Oaej Ctrtk It Hurtln ' ''! i'! '' The parties at faaue ta the ' bituminous real strike are becianing to say to each other. "Take your thumb oat of my eye, and "Let go my ear. -In other words, the atrik ia beginning 6 ciuoh the particuantA ss well as the mblic. and the prospect of settlement seems a trifle Bearer, in the anthracite field, however, this tendency Is not so maaifost. I Tbe operators still have hundreds of thousands of . torn ef coal ta sell and the strikers sun - have hun dreds at thousands of i dollar ot savings te spend. The situatloa asa. be adequately out lined by the fact that aae coal fcompsny had 13 solid mile ot load coal aa hand when the strike started and one miner, taken to a hospital the day before tbe close-down, had $2600 ia a belt around 'his waist.' -u i J i . : Cloth Marksto Advahelnt '' I 'ii,. Y : Markets for cotton, wool and silk, basic ma brrials ef the textile trades, all are strong at advancing prices. This has eucouraeed pro ducer, and manufacturer have been com pen fa ted by increased demand and high prices for finished materials. Men and : women s apparel ia selling well in aU sections of (the country, with prospect that manufacturer j and dealer i in straw : hats and tropical weight clothing will enjoy sue at the best years in a decade. Ad vertising it universal . and persistent and i being attended with excellent retails j when backed, by quality. rnce ana moaerate prices. , :i ttteat ProduoU la Demand T";;"l - fttaei eroducts are in eonstantly increasing demand and belief in the permanence of this trend ia aivnif ied bv eiwimoHMT inor eased " ero- duction of pig iron. The non-ferrous metals- lead, rdna and popper all hate registered ad vance and i occupy better technical position than (or month past. The great business pick no baa been in automobile sales and manufac ture, and warning are being issued against un warranted price or cost expansioa in these lines. The output is rapidly j approaching naeitv nroduetiou- . i Inquiries for lumber have reached the great est vebun ever known ta eomei of the producing somewhat : the result ' ef realiaine sale bv trad ers,, liases let act . ar two potnea were etwied by - ana i of trie more speculative lunass end there were fractional vwaawiono ia many at tha , more uaaerrative in rest meat assess. .-Tad le realty the ftnA laterrartioa (a tha t artoas at no tne nrsa thana ahId be aa bait, of tnvam&nra ally. -On the ether hand advantage enoald lefeea ar. the ftreaeat e-omparaUvelir tow pn Money rata pemaia easy and the cost at bvuag is reeeding, whioh asean that the pries at fixed income bearing aecuritie ought to tujiato atill farther.- . , i ... . - "Tne lenrth to which the bond marVvt will go to alupreatmate the Kieai of 80 year sew t best illuftraeed ay the fact that an lat the city erf New ix ark sold per went bonds I a premium eoniiiared with yield of better I them 4 per cent aa current tevvis. Gilt vde 8 per eent i railroad beads were ease preraiuat prioes dorirarthat time. "Sura tavestota 1 have not yet their idea to the iraj Dtwwnt worth ef ties aad atfil are of the opinioa that high rate that prevailed eoeee , time ago ar yet arailahee, "InTastort f should i cru Unite lama ; ! aaore ekwely new than ever befora friidertjrej, ot the safety of principal -and reeularlty of ta-: oome should eoma first and jaissUira ehoold not be iiUluenoed by the high eoupoa rate aad. yield. Mnta Lavnadrlaa' Combine Milton, Msy 20.Hj. Ii. rdvety. proprietor ef the Twin City tTbaaera, aad P. Bwpaepej pvw prietof of the Milton - laundry, hare aoatbiaad the two eoaoera and will install a modern ktrara laandry and also tnaehlnery for eleaaiag. dyeing and dry cleaning. - The new coeiny lias incorporated with a capital at $20,000. par value of snare $10. Over hall ot the cap ita ha been subscribed. ii-- eeatera and everywhere new buaines , ef production and shipments. far Lamb IvOBte Heavy Stockmen of Deshutea, Wheeler and iWaace eountie have suffered aa aranaa r aa - eeat losses ia their lamb baasnss at ah. .-7. wmteraad a lata siwtag. ay lmer WUUUns of the predatory animal : dirision of the United States bioiogical laurv. In eoma eetiorsi the Aiga a 100 par east. Williams totxuoted jvrsl new goverumont taatara ia the work of iwasrarlnt eoyotea, I Norf. A Son. Nort West. rjor. Pac ...... Peoria A Bast geuna. ......... Per Mara. .... . do pr pfd. 4.. do pfd. ...... r. w. v. ... do Old- ...... Beeding ......... ao 1st pfd. do 2d pfd, .... St L. A B..W. ... do pfd. , . '. . ;i. . . St U South W.... ; ao pfd.,-..-. ... . Seaboard A. L... I do pfd. ..... Sou. By. do pfd. . South Pad. . .. . . Texas A Pae. ... Third Are. ..... T.-ScL. A W. etf . : do pfd. etf. B. Twia City B. . . rnioa PadSe' . . , do pfd. ..... tjni. By. Inr. . !do- pfd. j.... ... ! do pfd. A . ! do pfd. B. . West Md. da 2d pfd. . -: w' a-a. 4 ..... ao pta. iW. ALT & i do pfd. - I, . :WV.- Cent i . . High 1 Lew loose 10 I 107 105 77 74 13 12 41 40 $6 $0 T8 7$ 08 07 $6 84 88. 88 82 I 77 46 43 57 67 32 I 28 00 49 82 28 4 46 8 6 12 10 28 23 67 56 6 90 35 33 28 21 86 33 43 44 49 47 140 136 75 T4 15 IS $2 31 11 10 82 80 20 20 .1 10 10 19 22 20 63 60 12 11 23 22 . 29- Chng. 107 77 12 41 33 76 68 86 . 88 61 46 07 82 60 32 40 T 12 67 92 85 23 36 43 48 138 75 15 ii $2 20 11 19 22 62 12 23, 1 2 1 ' - 1 ;2 -3 8 $ 3 1 Japanete Salmoa Chanlag- Xadvgtrr- The salmon canning lndmitry! of Japan allowed a i steady : improvement, during 1 192 1, according to: the Japan Advertiser of January 20. 1922 The eatout : for the year. ss . reported by the departaaent ot arricmturs I sua commerce, amountea to 700,000 boxea (ione box contains 48 one-pound cans), against 600,000 boxes, for the previous year. Approximately 600,000 boxes, valued at 4,000,000 yen ($1,994,000, were exported la 1921, one-fourth of it being a hipped directly from the producing dhtrlcte. . f - la the asa around Siberia more pink salmon was eaagut tnaa rao. ; -mis was asea xor can ning. . lyunng -tne wona war a aeraaad 1 for pink salmon was created, which offer a line opportunity to Japan's canning industry. The department -ef agriculture aad leocnmeroe is aaid to be indirectly eriosearaging the enterprise in the northern part of Mae country. Chehahs. A Son will Toledo Sawmill p Start Toledo. Monday. The miU wUl average 10,000 feet a day. erected ha timber. I WadL. May 20. -B. P. Lartoei begiB operating their sswmiU near .Tbe tract on which tha mill wae $.000,000. feet ef fund tkaadla; ;"".;!:' .'"',,";m:'.j;--::?:'.,-i-' Liverpool Wheat Lower :, i:- ; Livernool. 1 May 80. Wheat elaeed. May. 11a ' 8d.i damn li: Julr. 11 fti, dowa i; Sea t.n.ber. ill ld. down d. Oura Jul it 10d. unehanged. I ((..' 1 - i .. ' i 'aaaaaaavaaaaaaaaaaaaaaaasa ; tBWronfATiQy. Are Yoa Going to Europer. . (I'M '"-'U m. ' .-' I-1 ' t ...! Or the Orient? Or Around the World "a Why not' fret axperlenoad and aoev-. ret information arom an who baa traraled extenalvaijr tor UM bonatu of hht pAtronaT - , tj-. v, SAcaie Atthmtalp BeorrUos6 ts j.. j - . :- TlcAotd aTraiB - -. DORSEYB. SMITH 'ifi- 2f AXAtlBB 1 J0URNAX TRAVEL BUREA0 110 BUpAUW ATr rOUTJUARD, 0B. TRAKSPORTATIOW I f -' ! " STAAaMMI - I "Admiral FaiTagutw I 0afW f ram municipal tVsek No. i S 1 aC, May t7, 4 P. ML I .;. LOa ANOCLC0 .- I 0AN DIEdO . 0TKAM6HI -s "Admiral FaWarut,, ail rram municipal Deck no. ark. May S7, 4 P. M. for 1 I -AN PRANCItOO LOfl ANOCLC0 0AN DIEflO alung eeery theraaftarij to rvmovrrn, vouioem ; j ' I '! aajuiaauaat- . . . . r. resolute May30.Jane27,Jnlv25t llianee June 13. Jaly U. Aug. 8 . ( f TO HAMBCBG DIKJCCT f : Saffissja evey TbarsJsy, lry the fseasa.' lar atearaer Msast CUy, Menrnt Carw raO. Atasiat CUateaa. Hauaea. Bayaarm. . WHiembei g. with awecial eabia aad iapvoved thlr claea avniTno1irioa. , UnTTTCD AatZBJCAlt LDnm. etc. .law IMw. La Salle St, CUaaf .. v ; : ar x-ocai Agents 9 : OELIflHTl i I ALASKA EX0URSIORS 12 day (2000 anile).. .0 80.00 22 day (4000 miles i L .. $145.00 ; i TiCKftT orrtem ;J01 SD ST. COn. STAftlt i PHONS BROADWAY 0481 itOafia aiidl Way Points STIt; GEORGIAN A i $H HOTJB.S TO ASTOTtlA 'Speedy, clean, aafe, comf ortablA -Lva DAlir Uxcept Friday , $ A. AC I NIGHT SERVICE f Lva. Daily (except 8At. 7:10 P.M. Far $1.8 Ob Way $ Beaad Trip Connections made for all North) and eouin oaacrjea at aswiia . Aftfer St. Dock f I Broadway 6344 H' THI HABKINS i XBJlS SPOUT ATlOIf CO. '!l':.i '., '' (":"-' ;.i':' fV-! -' i -.vi l: -i-i i'i --: . 1 f "l .'...L 'j'1" eiLj i" rnx i! in.i Liiiwiauu . iii ji mi ifs tL id I : i 1 -a I Vinsu,. n-i-n ! ki. . stA.t -:. Tf AUSTRALIA ... NEW' : ZEALAND AND SOUTH 0EA0 I. : Via Tahiti! and Naratenaa, ' Stall and Pesseneaf 8arlce frem Baa Franolsc every SS Days, Paelfle Tour Bevth Saw, New Zealana, Aus i ,1- tralia 062S, First Class, j ,. . , VNiort s. s. co. or new Zealand f CSO Oanrerala St, Sea Fraacitee ' ) ! Or Local ateamslue and Itmkread E- m SV "I ( 1! ).. Inoresse. 0 verb ii cCo oke Co. BROKERS . rwaOMah. Or., aad Walla WaTm. Wash. POrOT-AJfD -': Beard ot Trade Buflding f stocks, bonds; COTTON, GRAINS, Etc r Corraapondsata ot j Logan & Bryan , Member of' New Tork Coffee Exchange ; "v .New Tork Cotton Exchange : -"- 1 , New Tork Produce Exchange " '.- - New Tork: tork Kxebaage Bestoa Ktock xchang , Chicago Board of Trad - Mew Orleaa Cotton Kxchaeg Wtaatpeg Oram Kxchanee V-T4t i Minaeepotia Chamber of Rraa. WiteS tO Lae City Stock Kxcbaaga i o vi Lcs Angeles Stock F,xchpg acir i vik fonsoeipnia boutss i and Chicago Pittsburg Stock L rehear .-..: Montreal Board af Trade it i Charleston, and 8a kilef-o. Lot Anf elet, Saa Jf raacltee, ferUaad, BeatUa ' VanaAnaaa U r sTt t I . . . 1 . I . i I , - . I . Vaaeoatar. H- C. k !.;! , i . - NOftTM, ATLANTI0 A WESTERft ' 1 WE8T BOUND i . New Tork ' Jeae ; ' SS. OO. ' -' ' J; Phila. etaaa 40 ... . 4 - PorUand. ate. Boatoa ad. L CHI OH .... ratal S7 Aaa j 9 hi. waiaiH a aw ai . j SS. SHM6H .... durst 1S June 1S . . . . ; ' done ) j,,: t.-r, .-'ii.jaAeT bvumd rnva pontvand i . : SS, Cold Harbee ..,1 .duae S . . $$.. Artloaa m.. ........ .dan tS 88. BHue Triangle .June 14 : 08. Lehigh duly 10 aa. Deerfleld . ......Lt dune' f - as. Wabash ............ r. .duly t0 ; ...Ht -i w i-ii J ' Wefr1sraeee apaoe. - - : l , ,-:-. - f,s i - , TMM ADBUNAL . LIMA. . Paelfle , Ceast gents .-'" ; " "' -I 01 Third, Street f sSi; , k,.. Vs i . 1 ; , T. ; :; j Pnena D'oaowej S401 i . . I -;-" lit I - - - I i -- , - t ' ' ..-11 i 'SHIP BY WATER" ' ' -I ' s:-" ":i , , WILILIAM: i iREGrtlAR FREIGHT SERVICE Between New iTorkJ Philadelpnis. Baltimore, Norfolk and San Fran- l :- ciseoe Oakland, Pi irtland, , Los Angeles Harbor, ; Seattle, Tscoteuu - ; I : ' !t Portland t and Colombia River General Agents 1 2031 WILCOX BUILDING ,.f. . I ; ' BROAD WAT - 423 7 " :