The Oregon daily journal. (Portland, Or.) 1902-1972, July 21, 1922, Image 16

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The Oregon daily journal., July 21, 1922, Page 16, Image 16

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Newspaper Page Text1G THE OREGON DAILY JOURNAL, i PORTLAND, OREGON. FRIDAY, JULY 21, 1922. THREAT OF RAILROAD OFFICIALS TO iFIGHT TO FINISH HAS A WEAKENING EFFECT ON STOCKS! LIBERTY 411 AT HIGH POINT j. s By Stuart . West f Wfl Street. New Tort. Jal 21. Profes sional traders reduced their ennaaitmentt for Ihe week-end today. TbU waa disclosed In " - -L. ") the rather hroeii floe ? 7v tuatione in prices the stack exehanse. Probably there waa abort seilin to ciMOd the output of ;4 mtM. automobile and. (oiiiiTiMyg oil stocks aa well aa & the sales of apecnla- ' tive Ions atoeka. bnt ' iml tba market presented ""' T :'K2 trdy andertone. An urea-mar mno wbkb developed after steel and railroad equipment suare Baa been ad vanced more than a point in the first half hour, was nothinf more than could be ex pected ia view of the day news. Friday 1. MnAv.ntinn.riT a dav for profit takis in a riajn market and the . situation was complicated Una week by poari bilitiea contained in th strikes. Liberty 4 . a Went to a record. Railroad Threat. Affects ' The eendinc of troopa into Fennnylvanis and. Ohio coat fieida emphasised in stock mar ket opinion the bitter character of the atrlke. The belliorrent attitude of railroad manacert . displayed in Thursdays threat in New Tork Khat the ;rike would be fooaht out, was Ibanfly productive of hopes that the. end of the Itrouble was near. The atrikea. while seldom the direct basis of ftock market liquidation, are bound to continue Ions" enoush to disturb the thooshta of kpeculatonh The decide to atand tide and watch the course of market devel opments haa no bearing upon the more far machine fundamentals and quick rallies which occurred in Steel common. Studebaker, Cru cible. Baldwin Loc?motie and others after early reactions showed that the best placed holdings - were not coming out. 1 , Foremen exchanges Firm 1 . While the foreien exchanges were quite firm, there wss no indication that Germany's re Jported acceptance of allied uperrision of her Ifinancea had aroused enthusiasm. Everyone realises the vast importance which a stabiliaa- ' Jtion of German affairs would have on the International affairs.' with particular ap , plication, perhaps, to England and Amer- jfca. But it waa not plain in thte . atewa that any quick improvement would , occur in German fiscal affairs under British and French direction unless something was dona to lighten the reparations bill. j Another tremendoua Increase in eircu'atinf Inotea showed that Germany's destructive Jmethoda of finance were still in progress. This increase amounted to -2.700,000.000 marks, according to the latest weekly report. Events '. are evidently ills pins toward a moratorium, for iwhich Germany seems willing to make almost any sacrifice, and when the duration and terms re outlined, poiaibly next week, there should Ibe ground for estimating the outlooK for Ger- - tman recovery. j A3 the Liberty 4t went to new high rec ords in the bond market. Foreign government arc ari ties were quite firm and rails as a whole were in good demand. The week's federal re serve statement showed that there waa noth ing to worry about in the monetary situation. ! Early Lot Net Osnsral ! The principal reaction of the day carried ac tive industrial stocks down a point and more, ' Steel falling slightly under 101 and Stude foaker, which waa really weak, falling off more Ithan 2 points to 135 H. It was noticeable that pressure was not at all general for atocka Use North American, American Ice and Gen oral Electric, in which the floating supply is always small, went up to, new high levels. Gen oral Motors profited frbm the company's ex cellent six months,' statement, and waa very ; steady around 14 . - ; Such evidence of psoperity. as General Mo tors announced, particularly in an $89,000,000 improvement in cash (counting in retired . -bank loans) should hava been cheering to hold- ers of motor stocks generally. The heaviness of Studebaker presumably represented doubt about the much discussed, extra dividend later la the year.' ' ; A feature of the late afternoon dealings was the strength of Pennsylvania, Louisville A ;' : Nashville and Atlantic Coast line, together ' i with the rery steady position of Baltimore A 'Ohio, Lehigh T alley, and many others, Rail 4 roads, in fact, gave the market a new tone. Pennsylvania's leadership waa attributed to Uis .'access which the company haa had in dealing 'with, its shopmen. It reached a new high -at 4i. It may be Slid that Wall Street thought that Pennsylvania practical handling of its own. problem might lead to separate railroad t agreements over disputed points, i - In the last hour the market' showed signs 1 of rallying at times, but was very dull. Money t on call loaned at 4 per cent. , The commodity markets were inclined to sell ! off in a listless stats of business, f J ' Oenaral Trend Pownward J Stocks were inclined today to move down ; ward without, however, evidencing any really jy weaa moo. a li ui-ic pec mat i.. wowk iu uie , -J morning carried several of steels and miscel v' I laneoua and manufacturing shares upward 1 point or mors ana siexican retroieum rose s pointa but the rally- waa the algnal for profea i aioaal sales for the, short account and that -i advantage waa lost before noon. Pennsylvania I railroad wa abid up to a new high- point for .' the year at 45 and several other rails save a good account of themselves. The market had ' no fresh news about atrikea and. broadly speek- ins, prices shove ed that traders were holding 1 aloof, being unwilling to take chances of un i favorable events occurring over the week-end. J The cloae was steady, with the rails the active -I leaders. ! : Bonds Show Strength Bonds were strong. A fall of about 24 j points in cotton future, reflected trading eau 1 tion aver weather DrosTtects. ! The announcement of the voluntary petition 1 In Bankruptcy of Alan A. Ryan, with liabilities i nlaeed at SS2.435.479. which was made after j the market closed, waa followed by a statement ! by ths Morton Petroleum Co.. the Kyan Pe j. trolenm Corporation and the Ryan Consolidated . . Petrolenni Corporation, stating that those cor porations were in no way affected by Ryan'a , failure. i s f- t ! REPUBLIC OF NEW YORK BOND TRANSACTIONS . ?. . Reported by Ths Journal's WaH Street Bureas 1 Wall Btrt, Kw Tork, Jnlr 0Tnn(it eiitles, both ' Llbsrtr bonds and forelara extcrmatl loans, wrsre ths feats res of today's bond dealings. BnyiBf of the t'nitsd States war fssaea attrncted. tbo nest attention. All the VA. pvr rent lssses sold at their higk est for all time aad traiiatUom to this qnarter were : enrlallr neary. Amons; the forelara bonds, the United Klat-dom SHs ( 12 nd 1929 and the Japaa.es first iia all rose to new top prices for "the Tat. The snore teat In these bonds was directly In fluenced by the firmness of sterling; exrhaare. The teadeaey of the foreign srroap as a whole was nsward, with the French g-OTerament issaes firm aad parties lar strenarth la the City of Sols seas boads, which gained more than a point. Railway bonds a-ene rally were not so baoyant as earlier in the week.. There were nsmeroas advances, but irrrgc larlty deTeloped la this seetloa as well at la the Indus trials. Wabash first 5s were a featare at ar, their best price e far this year. St. Lols San Fran-clseo- beads were aetlye aad flria; LoaisvUle tt NashTllle end Southern railway Issaes moved ap fractionally and the St. Paul general 4s sained slightly. Pere Marqaete 8s erossed fS. One or two of the Erles, Seaboard Air line Securities aad among; the higher priced Issaes Bock Island refandlaa- 4s reacted. Jfew Tork traction boads were are ne rally qaiet. The Manhattan consolidated 4s, howeyer, went up oyer a point. Pffofit taking- affeeted American Sugar Cs and Annonr as Co. 4V4s lost about a point. The largest new offering today was aa Issue of $500,009 first mortgage tVk per cent serial coupon bonds of the Durant Motor company. They were sold at par aad accrued Interest. New Tork, July 21. Following ia an offi cial list of all bonds traded in on, the J.ew York Stock Exchange today with prices and sales up to and including the close of the market. Total aales today were $15,400,000, against $13,780,000 yesterday. $17,601,000 a week ago. $12.62,000 a year ago and $9.- 414. 00O two years ago. ' , From January 1 to date $2,582,234,000 against l.Bo7.677.000 a year ago, and $2, 111.278,000 two years ago. LIBERTY BOSDS (In $1000) ' Sales. I High. Low. Closing. 3: 1 ' 1 72 1 752 26 1780 34 1762 1 478 43 3 , Liberty 3 V 8 . II do 3 H s reg. do 6L 4s 100.&S 100.74 100.70 do 2d' 4s re.. ,100.28 do 1st 4Vis.. 101.30 do 1st 4 s rg.100.16 do 2d 4 "a..l00.H8 do 2d 4 Us rg.. 100.78 do 3d 4 Us.. . 101.00 do 3d 4 Hsrg.10O.70 do 4tb 4 Us.. 101. 54 do 4th 4 Us rg.101.20 Victory 4 U s ..100.58 do 4 . reg...l0W 58 10O.90 10O.74 10O.70 100.28 101.16 100.16 100.74 100.66 100.70 100.66 101.18 101.20 100.54 100.48 100.90 100.74 100.70 100.28 101.20 100.16 100.78 100.68 100.82 100.66 101. 3-J 101. -'0 105.54 100.48 FOREIGN BONDS 5s. 5s 1 lArgeutine BSj do 7s 1 0 Belgium 7 Vt s 221 do 8s 7 do 6s 2, Chinese Rwy. 28 (Berne 8s 8 1 Bordeaux 6s. 7 iCopenhagen Otis 1 6 Prague 7 M a 8Lvons 6s. . . . 9 Marseilles 6a 9 Porto Alegre 8s . 14 R. de Jan. 8s. . . 6 do ' 8a certfs. . 28 feoissora 6s 4'Hao Paulo 8 lliTokio 5s. 4)Zurich 8s 37 1 20 1 60 23 43 27 73 93 115 190 3 56 62 11 2 14 'Seine 7s tm. cer Danish 8s B. . DofCan 5 Vs notes do 5s '26 do 5s '52 DEI rets 6s' 47 do rets 6s '6: French 8s ... do 7 s ... Imp Jap 1st 4 Hi! do 2d 4 Us - -. do sterl In 4s. ; (Denmark 8s do ctfs 6s. . . . IXeth rets 6s. . . . Norway 8 ! Bolivia 8s Chile 8s 26... 2 do 8s '41 . . . . 4 do 8s ctfs 13 (Czechoslovakia 8s. llUruguay 8s 1 1 Queensland 7s . . 20) do 6s ctfs 4 Swiss 8 J .'. "18, Rio Gr de Sul 8s!100 H (100 U 1100 H Bao Paulo 8s . . . 100 hi jlOO U 1 100 U 311iU K of G B A I I 5Us, '22 IllOHtllO 110H 113! do 5Ua '28. . 110 U 110 U 1 1 10 U 161 do 5 tie '37.. 103 T 103UjlQ3Ti 46 C S of Braxil 8s102 U 10l 1101 5!U S of Mex 5s. .j 59 59 59 6 do lg 5s 55 55 55 25 do 4s ...... I 47 47 147 NEW YORK CITf BOND8 ' UN Y City 4Us'60!1001i (100T4I100T4 80 , 80 80 10014 100 10U 1064106ti 106 Vi 106U 106U 106U 101 T4 100 U 101 U 54 U 54 U , 54 111 U 111 Vs 111 844 844 84 97 H 97 U 97 U 88 87U- 87 84 H 84 U 84 U 8-4 H 84 U 100H 100U 100U 100 H 100 100 100 100 U 100 83 U I 82 U 82 101U 101 101 71U 71U 71U 111 54 111 U 111 91 904 91 10S t4 108 H 108 H 101 1004 101 99 99 U 094 8 t4 98 H 98 U 95 95 U 93 5 U 95 U 95 U 102 U 102 102 100 U 99 T4 100 H 92 T4 92 4 92 92 92 U 924 78U 77, 78 109 109 U 109 9! 92 U I 99 96 95 I 96 llOU 110 ,110 10O 1004 1004 102 102 102 104 104 104 104 104 104 96 95 93 10r. 1105 (105 109U109 10U. 101 !101 jlOl Salea. tf $1000 .119118118T4 RAILWAY AND MISCELLANEOUS BONDS 2Aiax Knb 8s . . . 4 Am Ac Cnm 7V4s 4! Am Smelt 1st 6-j 43iAm S dt R 6s. . 7)Am T de T cvt 6s 24, do col tr 5s. . lai1 do col 4f ' 12IAm W Works 5s lAm W Pnr 6s. . lOiJurgen U M cvt 6s PERU GOLD BONDS Dated June 1. 1922 , Due June I. 1932 These' bonjjs are a direct obligation of the Republic of. Peru, and are additionally seciTTed by a first lien on all the taxes from the ' petroleum industry. PRICE 100 and -Accrued Interest Blyth. Witter. &. Cot Fourth and Surk, Portland . Broadway 648 1 21 Armour r e 4 a BlIAtT S F gen 4s liA a (J A L 91 B li do 44a A 5AU St Bmhm 4s 1 A C L 4 s. . . 9 ACLLAN col tr 4a 7AU Fruit cvt 7a. 11 do Ref 6s. . 24 a dc O 6i 11 do ref 6a .... 68 do cvt 4s. . . 62 do' gold '4s '. . 8 do SHaSwndiv 4 Bell Tel of P 7s. 6 Beth Stllst ext-Ssf 1 do ref 6s 1 ft) Ho liBig Sand E Ey 4s 8Bdwy7thAT con 6s iz uauya SJoat sa ai do T T 7. Buffoeh'A, pitta eon 4a .. ljBusb. Terra eon 6a 6 do bllde 6s. 12 "Canada Sou 6a.. ZiCana Ga El 6s. 2ICana Nor 7a . 15 do deb' 6 Hi. Jill 100 104 93 103 105 09 91 81 5 O0 Vs 90 94 99 81 67 89 84 Sff 103 101 89 844 84 94 108 104 99 U 9U 98 84 694 96 83 84 . 92 90 SI 'iso. 101 112 6ICana Pae 4. . . 7 HO ljCaro Och at O Bel 91 Tff. a X) X1 V.I A A w 14 Cent of 6s By 6a!10e4 99 103 B2 K 1102 105 U 984 91 81 85 90 90 93 99 91 67 80 83 38 103 4 1004 88 I 84 84 84" i' 84 94 94 1108 , 108 ' 104 104 9 99 96 98 84 68 96 83 84 100 104 924 103 105 99 91 81 85 90 90 93 99 91 67 89 84 39 103 4 1004 89 14 Cent P 1st ref 4i Cer de Paa cvt 8s 2IG . O rts 5s... 0 do cvt 6s 62 do gen4s.. 251 da n au.. 14 Chi 4 Alton rfg 3s - 1 C B A Q jt 6 Us 2 C B O ref 6s! ?t do 3 s m. 1!C B Q ex 4 Nh 0IC dt B t 6a. . A 3 Chic a Brio 1st 6a o;i n t West 4a. . 7 Chi Ind dt L rf 6s 1-C M at S P 4s.. do evV4s . 19- do tfg 4 A 5 do evt 6a B. . 43 de 4s 7 do - deb 4s . . k i JC a s w ,. 1 do sea Sa . oi ao cesi As 90 4 119 96 95 P8U 89 60 494 10$ 101 83 96 S3 96 61 82 76 70 85 75 82 64 110 764 106 toMP8lAt4y Ti Rjl Ce. 6a. .t SO 4S C, R I a, w a.f ,j!2!J-20 6a 82 it o i- ea v an oat gs I ChiU Sta s."lld l Ch a W lBd7sl02 T5 14 Chile Cop cvt 7s. 165 27 do col tr 6a.. 92 V 18"in Gas A El 5 Us, 98 14 CCCStL A. 101 61 do 4s CWN. 2 T7!Cle ra tr 6s. 104 1 2 !Coi ladna 6a. . 79 , 6:Coio a Son 1st 4s S3 ' i do rfg 4 Ha... g lOICol Gaa a El Ss. 9 .6) da Ss sta.. i. 6!Cob Coal Ud Ss. t , tTiCoai Gas cvt la.. 123 92 91 SO 101 112 111 79 V 91 95 W 100 89 U 119 96 95 88 89 60 4DU 1H 101 83 96 82 60 82 76 69 64 73 81 63 U 110 7tt 105 74 79 82 83 ISU 114 102 71 103 92 OS 101 I 82 104 TS- 89 -96 sou. 123 96 U 98 84 68 96 83 84 92 90 91 i 100 101 113 111 794 91 96 100 89 119 OA I? 93 88 89 60 49 V 103 101 83 96 82 96 60 82 76 9 5 75 82 64 110 764 15 74 TH 83 82 8 tit 4 102 75 105 92 AS - :101 83 104 7! 93 89 96 96 89 2, Cub Am Ku Ka l net or. Aiod cvt Sal I men, t 2wDel A Hud 6slle3 7 1 46 7 3 10 1 Del A Und rf 4s) St - ao u iuv U 4c K i eon S. I til . Det Edi rfg a..l3 da rf e Si I aa sc tet ; Kys 4 a. I 83 SjDup de Nem 7 s)I07 4 107 i "-'i - cuw vsfivaa iva .(ius iitm Hi do 44 B G a Pert 7's 3jErie gen In 4s. . . 12 do dt In 4s 2 do evt 4s A . 1 do cvt 4s B. . 23 do cvt 4s D.. 55 do col 4s . . . 6 Fi&k Bob Ri . . 7o,Fra, Ind.O.d.7 si Oj-ran. , fcug. 7 a 4;Wol E. deb. 6s 25;Goodyear " T. AR.8s Ik Ar k. 11 7 :Gr. Tr. of Can. 6 satGt. Nor. 7s 22Gt. Nar. 5s. . . 2 Hock V lstc 4 s 19 HoL Am. L. 5s. 24jH. & M. ref. 5s A 47 do adj. inc., 5s 33jDl. C. Omadlv.Ss 7j do 5a 8 do 6s 19HL C. A V. St. L. j A Mo. jt. 6s A 1 111 Cent rfg 4s. . 23 HI Cent 4s..... 18j do 4s 1IU St deb 4 s. . 141Ind Steel 5s.... 6, Inter Met 4 Us . 10 do col 4, ea 42 Int Rap Td cvt 7s 108) do ref 5" 5 Int Gt Nor 5s nts 83: do adj 6s. . . , 3 Int Pa 5s B 7Int II M a f 6i. . 6, Iowa Cen 1st 5s. 1 j do rfg 4s 25 K C F S & M 4s. 3 Kan C Sou 5s. . . 17! do 1st 3s 3 Kan C Ter 1st 4s liliayser, 7s 6, Kelly Spring T 8sjl08 lOiLai Stl os .' 1 do 5 2Lk Sh&MS 3 Us. 38f do fffcb ' 4s. . . . 62j do deb 4s.. ... 11L V Pa 1st , 4 1 do gen 4s. 106 9s 98 53 63 53 56 88 107 99 100 106 81 116 101 101 U 103 110 102 87 8S4 85 64 100 101 110 96 89 U 85 83 92 101 12 12 $)4 14 68 64. 52 S7 97 79 79 80 89 71 84 U 105 91 4 100 89 79 U 94 93 92 82 8 Ligg & Myers 7115 U '115 U lljLoug Lsl 25jLorillard 31 do As l4iL4N 10! do 2! do 5 do uni 4s ,106 9 102 90 119 79 12 94 83 108 98 55 65 53 53 66 aa l 107 su too 106 81 116 loi 100 103 HO 102 87 88 85 84 100 101 110 96 8 83 83 92 100 12 12 94 68 ' 64 52 S6 46 79 79 80 89 71 84 104 108 91 does. ,106 9S 102 : 90 116 79 103 83 ies 17H ma 1084 98 63 66 53 53 56 88 U. 107 98 too 106 81 116 ) 161 ' 100 103 110 102 87 88 85 64 100 101 110 96 89 U 85 83 92 100 12 12 94 68 64 52 86 96 79 79 80 89 71 84 105 :108 91 SHOE ORDERS ARE 'Boston. July 2 1 - Shoe manufacturers here report that factories have received enough orders since the opening nsrs of the National Shoe ' Leather exposition te keep ptanta busy for ff rom three to four months oa fall time. PRC IT ' BarrisbBrg, Pa.. July - 2 1 . Pennsylvania will have a crop of apples amounting to about 10.000.000 bushels this year, baaed on the July 1 condition, according to the bares a of statistics of the department of agriculture. The peach, crop as estimated at 900,000 bush els, or 46 per cent of normal, and the pest crop at 500,000 bushels. PAINT New Tork, July 21. Figures Just made public indicate that the aalea of paint for the first five months of 1922 were slightly in excess of those for the similar period of 1920, the big year of the industry. i00100 89 79 U 94 S 92 82 l.t toldj 5s uni 4s . . . . 5 s ..... .1. ik-xr 1 Mnn Sng deb 7 Us 10 Man Ky Co 4s. . 1 1 Manit S W & C 5s 7Mkt St Ry con 5s 8!iUrl Oil 8s war 8jJiex Pet Sa . . . ISiMidv Stl cvt 5s. . . 4 MAS L 1st ref 4a 51 do rfg- 5s. . . . 17 MSP & SSM 6s r Al h. ec X 1st 4s 88 do 4s sr B . . 60 do 5s A 80 do adj 6s A. . 2 do 4 a ctfs . . 25 do 6s C -0,Mo Pac its 42 do Cs 4 tt j do gen 4s .... 8 1 Mob A O 8tL4s 5jMont Pr 1st Bs. . 3Mont Tra af Cs. . 1 Nassau El 4s. . . I 11 !N Eg T&T lst5A lNew Or &NE4 s 2!.iew or tM inoa NO V i KOU 114114 98 U 83 634 107 I 81 98 68 97 88 122 105 4 89,! 89 45 U I 45 U. 46 46 102 1102 83 I 83 89 79 94 93 92 82 U 115 80 c 114 98- f 98 88 83 93 934 107 ,107 81 81 98) 98 67 I 68x 96 97 87 I 88 120 (120 106;iO5 89 45 U Y Air Br ct nsilfll v Y Cen deb 6s.jl064 do col 7s .... fl)5 4 x u it K rfg & imp. 4 s . . do gen 3 a. .j Ao 4s I do 'lit .:N COiN 91 llOjN I ' 17! r.3i t ao s . . . . . 14jNTEdiCo Yef 6 'sX i do HAHdeb4s4 BiNTUnt AWgen4s. 3 doRys rf 4str efts 6 do adj 5s 7 do SusAW gm5s 14 do Tel deb 6s. 5 do gen 4 s . . . 19 do ref 6s 1 Niag FlsP 5s. . . . 6(NorASou gen 5s. 20jNtVRR con 4s. 36jN A W cvt 6s. . 4 do 4s Pac CAG. 27iNor Jim Ed 6s. . 387;Nor Pac 6sB . . . 70 85 37 67 96 88 U I 100 64 89 98 88 51 974 83 71 69 I 84 57 I 67 98 ! 88 46 102 83 70 84 57 67 96 '4 88 100UI100U 64 4 J II. 34 do pr lien 4s." 18 do gen 8s. . . 103 da Imn ljX StatesPw 1st 4 s 4i-N v Bell Tel 7s 13Ore Short L rfg 4s 3iO -W RAN 4s. . . 17 Otis Steel 8s. . . 2;Pac PowALt 5s. . 44,Psc TAT 5 rets. lil'n Am PetAT 7 271 Paris Lyons Med I KR 6 ctfs. 13 Pa R R 5s. 20 1 24 2 17 1 1 29 1 IS do a-oid R i. do (I Vf a u. . Peo & Ratl in a 1 Pere Marq rfg 5sj ; ao s . . . Phil Co ref 6s ! PienJe Oil 8s. ! P C C A St L 4 a A de 4 Us B p h r. a p 7 u. . 'I Pun La Allegro sj 7s; i-roa A Kef 8s w IReariinir trn a. 32iRem Arms 6s. . iir ; a w 1 . 4. 6(Pk Isl A a L 4 s) -!. jsrown I Vs. . 9 St L-Iron Mt A Sou gen 6s. 16 do ref 4s. . 4 do S R Ga 43 a;st u Bky Mta A Pac 5s 46St L a S F pr In ! lien i a 2 do & R 5 S L48F gen 6s C do adj 6s do inc 6s 43 L Sw 1st 4s . 7j do con 4s . . 6SP4KCSL4 11.3 A L Gd sta 4s 61 do rfg 4s . 68 do adj 5s 115 do con 6a 2 5 (Sin C Oil 5a .106 do cvt 7 til. 41 u 88 I 97 88 61 97 83 71 i I 101 (101 luv 10 105 U 1105 U I I 96 96 78 78 92 91 96 63 4 89 98 88 51 97 83 i 71 96 09 66 69 37 8 55 106 94 05 99 69 93 11 87 91 T4 108 89 90 63 97 4 91 4 108 92 83 91 90 92 101 79 02 109 93 81 97 80 99 98 95 95 96 78 91 U 96 95. ar, i : 109 flOD 106 rlllO 87 95 80 81 96 87 88 83 361 do 7a mm 5Sharon St Hoop 8s , SS v sic sug 7a. 7 Sou Pac cv 4a. . 13 do rfg 4a . . 16 do eoi tr 4s . 11 do 8 P Tm 4s. 68 Sou Ry con 5s.. 231 do gen 4 73 do 6 Us ... 2 Stand Milling 5s. 13 S O Cal deb 7s. 7 A T Co Am 7al lOfTenn Coo 6s. 7 Tex a Pac 1st 6al 1 3d Ave rf 4 70 do adj 6s 5 iTer Asn St L 6s l! do rfr 4s . 3 Tide Oil Co 6 Us 6 Tol Edi 1st 7s. . 8 Tab Prod 7s. ... 5 Jt st l a w ausl 1 do 4s 19 rn Bag a Pa 6s 1 1 Union Pac 6s. . . 65 do 1st 4s 8 do cvt 4s ... . 20 do ref 4s . 6 Tn Tank Car 7s. 5 Cnited Drug 8s... 9iC S R a I 6a. .. - lttf S Rub 7s. . If do 7s 49n. a Rnb 5s. . . . i5iU s a a a m s. 44 IT 8 Steel s f 6. , B Ya-Caro Chem 6s ' 2 do 6s . . . . 601 do 7s reto a . 9 do 7 Us .. . 2 8, Wabash 1st 6s 81 74 87 100 80 70 94 79 76 82 38 45 28 U 63 98 V 104 99 98 99 2 90 89 84 98 69 102 964 106 100 100 84 634 0 89 81 104 107 104 82 70 97 104 96 95 89 109 U 11094 56 69 37 8 54 106 94 05 99 68 93 .11 87 91 U 108 89 89 63 37 91 108 U 92 82 U 91 90 92 V 101 79 102 109 93 81 97 80 98 98 95 or, u 109 106 110 86 95 80 81 96, 074 88 83 81 73 87 100 80 70 94 U 79 76 82 58 45 28 62 93 56 4 69 87 8 54 1106 94 105 99 68 93 111 87 91 108 80 89 63 97f 91 4 107 , 91 82 91 90 92 U 101 to at f 1 rt 084 93 81 96 80 9S1 98 103 10 86 94 80 81 98 97 88 83 81 73 87 99 80 70 94 79 76 82 57 45 27 624 84 '04I104 n rut ion 102 90 V 191 103 103 90 99 98 gjnanaa ass oe. ,.;xuu i 8BUI100 41 Wal Ome. rh sf 1 66c . - - ! ' VMM. W M 1. 1 W T a C D 1st 4sl 74 ti lOiWarner Sa Ref 7alfl3 4 West Md 4s.... 71 5 H 9 j Wert Pae 6a j 86 4W C real est 4 si 93 liw v s Titiou . 2jAVert Sh 4s. 83 21 'West El 7s 108 5.W ALE ref 4 . 6 2Wick Spenc St 7il) 14 Wilson 1st s. . . 99 8 do rrt !...., 9.1 65 do 7i ....Jl05 -iwa ijchi; gea si.i 81 99 98 99 92 89 83 84 98. 684 U 102 102 96 99 93 99 92 "90 88 84 97 69 96 106 1106 lOO ;100 A 63 0 99 v 81 103 107 104 92 70 07 104 9 93 88 103 103 1 IS Vi. 6 108 102 at4 161 90 99 98 105UMOIU Ilea 199 102 65 86 lu 83 108 6ft. 100 92 103 81 STANPARD OIL ISSUES 100 100 94 63 60 99 81 103 i 107 104 92 70 97 104 96 95 881. 103. 116 : 96 108 102 90 161 103 90 99 H '105 T4Ht T4 101 65 86 3 110 i 83 .108 ' 68 ' loa 99 92 1105 81 4iCnh Ca Sac Saati 8 8ij B. - 9 00, Anglo Am OU 200;Ual Sis Oil . .-I 18 3a 18 1S .1 3 i 2 i aa . CAMPING EQUIPMENT New Tork, July 21. There is a steady de mand for khaki clothes snd csmping equip ment, including hiking boots, rubber-soled shoes, tenta, outdoor cooking utensils, knap sacks and similar supplies. RUBBER SUPPLIES Akron, Ohio, July 21. A survey of the Akron tire plants shows that the industry is running at the highest rate since June, 1921. A total of 105,000 casings -are being anade daily and 50,000 workers are employed. Me chanical goods departments- are also apeeding up. Goodrich reduced cord tires 10 per cent and fabric tires 15 per cent. WOOLENS Providence, R. I.. July 21. Tarn mills in this section are running full time and find business good. CLOTHING Minneapolis, July 21. Merchants and manufacturers here declare that whip cord will be a favorite material for both men's and women's clothing next fall and winter. COAL Kansas City. July 21. Missouri public utilities oompaniea report that they have 40 days' supply of coal on band. Kanaaa City dealers have a 16-day supply in their yards and industries are less concerned over pros pective coal shortage because of the 50-cent reduction in crude oil prices. Many plants are preparing to put in oil burners. , FURNITURE Springfield. Ma, July 21. The Springfield Furniture company has been organized here with a capital of $200,000 to compete for businesa in aouthweetem territory. CORN Oklahoma City. July 21. The Oklahoma broom corn and corn trap are in good con dition. Broom corn is somewhat lata but ia growing exceedingly well. Lumber Industry in Northwest Prospers; Production Grows Conditions in the lumber Industry of the Northwest remain at a fairly satisfactory point, according to the weekly review of the West Coast Lumbermen's association, made public today. One hundred and twenty-three mills, re porting for the week ending July 15, manu factured 81,269.939 feet of. lumber: sold 68,346,903 feet, and shipped 87.600,263 feet. Production for reporting mills was 2 per cent below normal snd new businesa 16 per cent below production. Shipments were 28 per cent above new business. Twenty-nine per cent of all new business taken during the week was for future water delivery. This amounted to 19,656,903 feet, of which 18,149,411 feet was for domestic cargo de livery and 6,507,492 feet for overseas ship ment. New business for delivery by rail amounted to 1623 cars. Thirty-six per cent of the week's lumber shipments moved by water. This amounted to 31.800,263 feet, of which 19,751.942 feet moved coastwise aad inter-costal, snd 12.048, 821 feel export. Rail shipments amounted to 1860 cars. Unfilled domestic cargo orders total 103, 823.546 feet. Unfilled export orders' 56, 862,781 feet. Unfilled rail trade orders, 7023 cars. In 28 weeks; production haa been 2.248, 217.679 feet; new business, 2.267,816,287 feet; shipments. 2.227,062,568 feet.. BASK Clearings Balances Clearings Balances Clearings Balances Clearinga Balances Clearings Balances STATEMENT OF Portland Banks 1922. Mon. .. 6,704.269 $ Hon.... 1.911.207 Tues. . 6,001.283 Tuea. . 638,391 Wed. . . 5.191,249 Wed. . . 1.259.167 Thurs.. 4,335,041 Tours, . 1,028,225 Friday.. 4.818,949 Firday.. 961,753 COAST 1921 6.119 1.003 4.237 379 4.020 816 4,007 856 4,187 993 440 196 122 ,233 908 640 211 .983 874 002 San e"ranclaco Bank Clearinga Friday 821, 300,000 Los Anaeles Banks Clearings Friday : $14,231,186 Oakland Banks Clearings Friday $ 1.S96.200 Tecoma Banka Friday's transactions t 2,497.000 Seattle Sank Clearings Friday $ 8,415,580 Balance Friday ; 1,358,763 BOSTOK COPPER STOCKS (Reported by Overbeck a Cooke Co.) Bid. Ask. Aria c. 9 9 Adv.... 60 75 Ahmk.. 63 64 Algom . . 20 50 Allouex. 25 26 Arcad.. 3 4 Cal A Aril 61 61 Cal a H.275 280 New Cm 19 19 Centen.. 9 10 Cop Rge. 43 44 E Butts 10 11 Frank Ma 2 2 Hanck . . 2 S Helvetia. 1 1 lsl Crk.103 103 Kr Lake 3 3 Lake Cop 4 4 Mich ..41 42 Mohawk. 61 3 Old Col. 4 6 i N Butte.. 12 IS Bid 5 30 45 24 1 Nipimlng o late Old I Op 25 Oseola M 33 Qcy Mg. Isle Ryl. Sup Bos. Ln Su M 38 do pfd 26 So Utah. 6 Sup Cop. 4 Wry Cop 1 1-1 Tuolumne 65 Utah Con 8 V a Mng 41 do pfd 47 Utah Apz 2 Ventura. 29 Victoria. 1 Winona. 1 Wolverine 12 Wyandott 60 Asked 5 50 26 S5 45 25 1 38 26 10 4 2 7 3 42 48 ' 2 29 1. 1 12 75 FOREIGN EXCHANGE RATES Corrected 'daily by the foreign exchange de partment of the United States National bank. Quotations below (except the pound ster ling) are quoted oa the basis of loo sniia foreign currency. Opening nominal rates en hank traneac tiona: Liondon -Lbs. Pterhna Paris Francs Belgium Francs . . . Berlin Marks Genoa Tire . Atben Drachmas Kroner Chxatiania Kroner . Stockholm Kroner Hongkong Currency . Japan Yen Shanghai-i Taeb Draft Cable Par Checks. Transfers. Value. S 4.44 $ 4.46 $ 4.866 8.46 8.47 19.30 , T.99 8.01 ' 19.3S .21 .21 23.81 . 47 H 4.68 19.80 . S.1B 8.17 19.30 . 21.51 21.59 26.70 . 18.72 18.78 28.70 . 25.95 26.00 26.70 , 88.AO 68.25 . 47.75 47.9 T7.80 78.10 Canadian dollar discount 2 Per cent. . SToaer aad Exehaaft New Tors July. 2V, (L N. S.) Call moBr ea toe floor of the New York Stock Exchange today rated at 4 per cent; high, 4 per cent; low. 4 per seat. Time money waa easy. - Rates ' were 4 4 per cent. The market for prime nBeccantSa : paper Call money in London today . waa 1 per cent. Stevtine exchange waa trreraktr with baat ness tn baaksTs' hula at $4.45 for demand. Sales. la $1000 f High, f Low. Usee, 255 Imp Oil of Can. . 7S0O Intl Pet Co Ltd 10O Pens Mex Fuel.. 60 S W Pa Pipe 16O0O S O Ind ....... 10O H O Kr see.... 35iS O H X j, ... 111 111 21 21 ' a ' 63 . .... 10 107 93 93 423 j42 111 21 a '. 107 m 420 WALL STREET STOCK QUOTATIONS - Reported by Overbeck a Cooks Cot. Board of Trad BuUding -' j v - NEGRO LAD TELLS (Waft Street Journal Financial Bevtsw) s New York, Jaly U (C. PAfter tare saccesslre aew hlsh la the la. aastiial eatlook, nrofessloaal operat ors theas-ht the Btarkst was entitled to a reactioa. They employed the aa rertalatles la the labor sitaaUoa to arias; it'aboaU For the first tins the flaaaclal . commfnity dlsplajed real concern orer developments la ths rail road aad coal strike. This- feeling; en abled ths hear contingent to force re. cessions of one to three poiata. ia the apeealative leaders daring- the mora. ! tradJag. v Bat the reaetloa at ao time exteaded beydud the limits of a normal setback follow las; the persistent rise of the In dus trial g-roap lata aew high ground for 'the present ball movement. Even la stocks with a aormaUr thin market, like Mexican Petroleum aad Crucible Steel, the decUae was la aa orderly fashion. With the exceptloa of the Plefee Arrow Issaes, ao- section of the list was subjected to selling prepare which might not have been laid to profit-taking or professional attempts to snatch a quick profit oa the short side. After offerings from these sources had bee a absorbed daring the morning hoars, the geaeral- market acted bet ter the remainder of the day. The market closed lower. Sales. storks. Sales. Stocks High . Low. .... Adami Express . 200 j Advance Bum. . . 400AaT. Chem. . . . . do pfd 5700)Ajax Rubber . . 200 Alaska Cold . . . SOOjAlaska Juneau . . lOOOi Allied. Chem, . . . 3001 Allis-Chalmers . . . do pfd. Am. Beet Sugar. Am. Bosch Am. Can Co ... . do pfd. Am. Car a Fdy. da pfd. Am. Cot, Oil. . . Am. Drug. Synd. Am. Hide, a Lea. do pfd. Am. Ice ....... Am. IntL Corp. . Am. Linseed . -. do pfd. - Am. Loco. do pfd. Am. Saf. Rasor. Am. Ship A Com Am. Smelter do pfr! . . . Am. Snuff . Am. Steel Fdy Am. Sugar . . do pfd. . . Am Sumatra . Am Tel A lei. Am Tobacco . . do o . . . ISOOIAm Wool do pia. . . . do P pfd. . . Am Zinc Anaconda Assd. Oil Atchison ...... Ho Tf (L .'. . Atlantic Coast Line At tiulf A- -w Baldwin Loco . da ptd. Balto a Ohio.. do ptd. . . . Rarnsdell C-P'. . RSdUIBeth Steel "B" . 1100Booth Fish . . . BOOK il.T Butte C A A . Butte a Sup . . . Burna Bros. . . Caddo Oil Calif Packing . . Calif Pet do pfd. .... Canadian Pac . . Cen Leather Cerro de Pasco. Chandler Motor. Chso w - aooichi t w. . . . . ..... 1 - do pfd ..... 24O0Cbllt Cop 500Cfaino 1700O 118tF 1400do.pfd 1100Coco Cola ...... 19oo;c A o 200Colo pal'.... lOOjCoto Southern. . 900Col Gas a Elec. 3200Columbia Graph &10Con tiaa 100 Cons Cigars.- . . . do pfd AOOOlConfl Can . tCitiea gvc KJtrs. lOeOOtCorn Prod (do pfd- 700Cosden. Oil lttOUiU R I A P lOOl do A pia. . . 300j do "U" pfd. . . I 15400Crucible I do pfd I 600Cuba Cane I 00 do pfd I 200Cuban Anfn Sugar) Oel Uudion . . 100ltome Mines I 4800 " '800 200 "io6 600 400 1600 2000 ' "800 3000 2300 200 "466 600 ' 100 2500 500 00O 200 4600 'ioOO 300 900 400 6300 isioo 100 800 200 200 1000 iooo 8000 500 2100 800 18 '18 89 38 is' ' iiW 1 1 68 68 64 54 61 140 41 37 69 76 8 22 30 -28 44 71 68 81 I 47 . 94 .1 4 .1124 . 35 .1 . 71 '.'io7 -I 43 43 94 82 87 57 65 '28 '26 71 70 111 111 44 43 . . .4 ..... iii" iio" "V6 "6 20 20 62 60 98 18 37 37 80 79 SO' 39 122 121 143 143 140 140 j 91 90 I'is" is" ! 54 58 .... !ioi" 100 91 91 109 108 37 36 120 118. '54 '53 62 02 I 32 81 79 77 8 8 26 25 0. 6 29 29 61 i39 40 37 68 75 8 '22 29 27 43 70 68 31 47 93 4 123 35 ' 69 1105 X 16 87 24 43 43 94 81 87 16 36 24 30 I 30 lOOflJel A Lack 112129 400i)avtson. -Chem ..I 46 45 j Kndicott Johnson . I I . 2O00Kne i 16 1600 do 1st pfd . . .) 24 I 6200jElec Sta Bty...) 47 1000 Famous FUxers. . 82 . F. M. li S ...... . . . do pfd 1200 Fisk Tire 15 lOOKJen. Cigar 764 500 Oen. Elec. 178 16400Oen, Motor 14 do 6 24800Oen. Asphalt 72 200 Goodrich 39 1400iUlk!den Paint... 15 SOO Granby 31 200 G. '. Ore 40 2100O. Nor. pfd 80 Greene Cananea. 5200 Gulf S. Steel.. ..... Gilenalden 300 Houston Oil. . . . 100 Hupp Motor. . . . 200 Ilia. Cent. . . . 13 00 j Inspiration 100 Int. Ag. Corp.. 1 lOOilnteiboro 100 do pfd 1400ilnt. Callahan . . Marine 200ilnt. Harv 900 Int. Mere 5000 do pfd. 2300Int- Nickel 1800 lint. Paper do pfd . HOOlInvincible Oil.... 2 9 00 'Island OH 200 'Jewel Tea 800 K, a Southern. . 6000 200 600 1400 9400 1200 2400 21400 1000 70O 68OO 300 800 300 SOOO 900 700 1300 "400 200j 400 dO Pfd; . , Bpcm 1400 Kelly-Si 2300 Kenneeou 10500jKeystono Tire 4300 Lsek Steel Lee Tire Lehigh Valley . Lorillard Loew Theatres . LAX Mex Seaboard Maxwell Motor A. do B. . , May Stores - . Mex ret Miami Middle States O0. Midvale Steel M K a T w I do pfd w 1 -wont fewer Mont Ward Me Paa do nfd m a p a s 8 m. Mar land Oil Martin a Perrv Nat Enamel 400,Nat Lead . .-. . . 20jNevada Con. . . . 700iNew Karen ... Norfolk a vr,.. Nor Pse !...... Nora Scotia 8teel N X Air Bake.. N T Central ... Nor Amn ...... Prod ref. . . asyver. 100 2700 18900: -. aoOlOkhv lOOOnt. J 2004Ont A W, 240OiOtis Steel ...... ISOOiPactfu Dev 2 OO! Pac Gas a Elec. 700 Pun ta Alegre.... SlOOiPsetfw Oil . .... lS3O0)Pan-Amn Pet... 6600 do -B" ..... SSOOiPeaa .w....... 400 Peo Gas ...... . 1800iPerw- Marauette. . i600iPur Oil ...... 20OO Phillips Pet ... 12200 PieTcw -Arrow ... lOOOiPierce Oil . .... 2e0iPtts Coal ...... ' SOO.Pitts W Ta... 86 66 74 19 107 41 9 1 3 ti 105 19 74 IS 53 83 65 74 19 107 H 41 9 1 3 7 (104 18 73 17 52 13 18 25 49 87 13 79 64 160 15 131 33 65 23 172 30 13 87 18 40 71 22 22 55 40"" 54 102 17 30 109 ii" 96 71 2 -7 25 124 71 48 56 76 69 45 86 83 28 45 LS 4 88. 16 23 46 82 14' 76 176 14 70 89 15 30 99 80 13 18 25 48. 86 12 77 64' 160 15 128 33. 64 22 166 29 13 36 17 40 71 22 22, 65 . 89 54 101 16, 29 109, 78 ' 82 95. 68 2 7 25 12 6 71 48 65 78 7 44 86 33 26 44 12 . . . . w 84 38 1 Close. 02 18 SU 63 14 1 68 54 98 88 55 108 V4 166 120 t 26 W 5 1 , 111 424 34 3 54 : 115 4 117 1 6Vi 20 I 61 98 184 t 87 79 100 , 89 ' 121 143 140 90 107 29 17 53 112 , 101 91 ; 108 4 3(3 119 111 54 62 ' 31 77 8 25 6 29 132 i 77 61 93 139 40 87 68 75 22' 29 Vi 27 4S1 70 Va 68. 30 47 93 4 123 33 66 70 20 '106 115 43 43 93 81 83 92 16 36 24 124 30 128 45 83 47 82 12 60 14 75 176 14 81 70 89 15 30 40 80' 30 83 65 74 19 107; 41 . 9t 1, 3 1104 18 78 17 62 85 13 18 25 57 48 86 12 77 29 64 158 15 129 31 64 22 118 1166 29 13 36 17 40 71 22 22 54 62 89 80 54 1O0 16 80 109 78 81 81 93 76 24 7 25 11 1 1 14 ! I 1 1 1 r 1 ! ! 1. ) 1 ! 1 14. 1 1 6 70 48 65 74 68 44 83 83 37 44 12 7, 64 High. I 8 80 122 16 74 36 33 7S . s . V 11 65 107 93 , 0 81 108 ..I 182 40O Pena Sea Steel.. 300 Pressed 8 Car... t 9O0 Pullman . . ... SOO-Ray Coos . 150O1 Reading ' ....... 4 OO Kensington . .... 2800iRoplogie Steel. . . 7600, Rep 1 a S... . .i .....j do pfd.. .... . 2 7O0 Rep. Motors . 3ttOOKoyai Uotch. Oil. 100; Ry SU Spgs . . . . . . . . . ,SUnd Oil Ken. .' . 800 Sears-Roebuck . . . , jsbattnek. Arts... .....SbeU T A T 7000iSmcIair .....iStaad Oil, Ind. 6001 do N J.s 200;Sloas She! 4UOO So SOOOISO 2000 s I OOO, St L a S r 1 OO; Stromberg Carb. . 465O0Studebaker . . . . . ..... ISwitt A Co 4 00 1 Tena Cop a Ch. 3400Teus Oil SOOjTexas Pac 700t do C a O .. . . 600(Tob Products 2200!Tran Contl OiL. 2 5uOjlnioii Oil Del... 1200Cmon Pac ... lOOO.United Alloy .. . 400, United llrug 6OO, United .Food Prod -oo,l mteu r run i t mon j ec Mr. . . r- 1700A SCI Pipe .. .j 85 4 5 lit) .Cnited Retail Stnu 64 9000iC S Ind Alcohol.! 62 loss She! .... -.1 o Pan f 90 o Ry I, O Cal (104 7 80 120 16 74 85 33 74 " 55 106 93 80 81 107 179 28 45 Bid. T 79 120 18 74 83 83 74 93 11 55 108 93 79 40 81 107 180 89) 89 24124 103103 ' 27 F 27 45i 43 137 1184 iI34 101 1101 t101 10 lt 10 .43 45 t 45 va au 1 6 1 26 56 56 151 15 20 142 40 81 8 20 141 40 79 8 lOOi do 1st pfd. . , lOO C S Smelting .. 14 200U S Steel . . . 1100 do pfd 1000Utah Copper ... 1400Va Chem 400 do pfd 400 Vivandou 100 Wabash 1400 do pfd Wella-Fargo .... West Pacific . . . do pfd 500 West Union .... Westhse A B ... 1200 do E a M . . . 800 West Md 2300 White sMotors . . . 6200 Willys-Overland .. 1000 do pfd Wilson Packing . . Wis Central .... 400 Woolworth 800 Worth Pump 500 W a L E 700 White Oil White Eagle Oil. . 144 1144 33 68 69 61 104 41 100 120 05 29 63 47 10 12 81 102 120 06 29 64 48 11 12 31 106 62 12 49 8 46 167 53 18 8 104 61 11 48 8 44 165 52 18 8 5 66 . 15 20 141 39 78 8 143 62 33 64 61 61 104 41 101 120 65 29 60 47 11 12 81 76 18 58 104 93 61 11 4 8 45 41 28 165 52 13 8 25 Total sales, stocks. 720,600 share. Total gales, bonds, $14,574,000. Kv-div. 1 per cent. NEW INCORPORATIONS Salem. Jrdy 21 W. H. Masters,. Grace J. Barton and Roscoe P. Hurst have filed ar ticles of incorporation with the state corpora tion deoartment here for the Perkins Auto mobile company, at Hilliboro, capitalized at 3500O. Other corporations filing articles Thursday were: Dindia a Co., Portland, $20,000, August J. Ltindia, Tony Volpe and Lawrence E. Oberer. Parisian Shoe company, Portland, $13,000 L. B. Greenfield, Karl Herb ring and A. M. Dibble. SuDolementanr articles were filed by the J. McCracken company of Portland, changing the name to McCracken-Ripley Building Materials company, and increasing the capitalization from $25,000 to $50,000. Olympia. Wash.. July 21. Articles, cf . In corporation were filed with Secretary of State J. Grant llmkle yesterday by: Grandma Cookie company, Portland, Or.; $50,000: F. D. Wheeler, P. E. Wheeler and L. E. Oberer. Columbian Piggly Wiggly company, Seattle; $300,000; amendment changing naae to -Jones Piggly Wiggly company." Doubled y a Co.. Olympia; $50,000; Rob ert 8. Doubleday, William Meyer and G. L. Miller. Sinagua Fruit Products company, Seattle; $25,00; Charles C. MacPherran and William L. Carruthers. Madigan a Daahley company. Inc., Seattle: $5000; Leo II. Dashley and Gerald Joseph Madfgan, N. A N. Egg-Separator, Seattle; $5000; Helgi Norman, Harvey Creswell Nugent, Henry J. Ntrman and Joseph G. Johnson.. Northwest Velie company. Seattle; $5000; Max Oleen and Louis Roecb. Jam en a Co., Inc., Seattle; $5000; Lee James and J. I F. Preston. Foreign Exchange Market I New York. July 21. (U. P.) Foreign ex change opened nrm. sterling, ss.43 , np lc; irancs,. .uosi, up .uuuo; lire, .0468; Belgian franc. .0800. up .0006; marks. .0021, up .ooui . Foreign cxcliange closed steady. Closing price: Sterling $4.45; francs .0844 tire .0465; marks .0020. St. Johns Paving Finished; Road to " Open in 30 Days Vancouver, Wash., July 21. Paving on the St. Johns road from Minnehaha to the Tracy road, three and a half miles, is completed and will be open for travel in 30 days, as the concrete paving will be allowed to set before heavy travel Is permitted. The new bridge at Minnehaha will bo completed by the time the paving Is ready for use. Biddies cutoff will be thrown open for travel next Sunday and the annual North. Bank Highway association picnic will be beld on that day to celebrate the event. The picnic will be held at the Henry Biddle place, and the speakers for the occasion are R. M. Gillis, state highway engineer for this district; Judge A. L. Miller, county commissioner ; M. E. 'Carson and Arthur s Thayer, president of the North Bank Highway association. The picnic committee is composed of Arthur Thayer, G. W. Hopp and A. C. Wither bee of Camas and G. Y. ' Moody of WashougaL This completes the paving of the North Bank highway from Vancouver to Camas. There will be no Sundays off on the Battle Ground-Heisson pav ing job. said County Engineer Schwartz as the work must be rushed to a finish by. October 15. Grading is well along from the Heisson end but laying of paving has been delayed by non-arrival of material. As the paving to be laid is bitulithic top the road will be ready for travel as soon as the top Is laid. The distance tb be paved Is five and a half miles. Architect 'Allowed Pay for Services Vancouver, WasK, July 21. Judge Simpson signed an order Thursday per mitting P. E- Cranda.ll, administrator of the estate of Dennis Nichols to pay William E. Fair, architect, monthly for services in carrying out the plans and supervision of the Masonic temple at Centralia which Is work Nichols had under way when he died. Farr Is to receive 75 per cent of the money to be paid for the supervision but the estate .will receive nothing until the building is completed. OVERBECK & COOKE COMPANY Stocks. Bonds. Cotton Grain. Etc. 316-317 Board of Trad Bonding DIRECT PRIVATE WIRES Tor New York and Chicago Mta hers Chieacs Board sf Trad CORRESPONDENT OF. LOGAN & BRYAN. GEORGIA COTTON REACHES MARKET QrTo aJ a- AD ITVs. Oft OI 09 meaTKAaL That tofiyv Yi.s Xik . " " " --wi tmau at sa a? w si yuuuu -"-of course does not reflect actnsj cotton aoo- """. ow. oa risers ners see ia the coa tinaed maintenance of high market price for the staple a certain prosperity for the South ern farmer this year. The crop will really I... j . . i . i . . .. . - " . in lew vwu wow ami xtooa of money will flow into circulation a that sec tion aa a result. Building continues at a record cBp here. With email hnM . rA KnMlw. .. n every section of this city. Already reduction tne rent of apartments are being announced which range from 13 to 20 -per cent, and wttwk will I. .i a . , , . w ...mruTv ocpwmprr ft, ror rem signs are more numerous than xhey have been . ml'J nine ejoce oeior tne war. 1're-inveatorr clearance aales are filling the retail stores in this section with customer! whll waaImUm .h awwak . i . - juuwra ITIUI. Ill, business they hav -experienced in montha iu ueiivery are arrmng in volume and accounts are being liquidated promptly. uuiictunD plants naver not yet felt the pinch of coal shortage and executives of local vuej wiu Dm aois vr avoiu cur tailment from tbia cause. - , Fish Commissioner Held for Contempt llwaco, Wash., July 21. John Lar son, deputy fish commissioner of Ore eon, was arrested Thursday for con tempt of court for alleged violation of the federal Injunction with permitted the operation of purse seines. Larson i-as cited to appear In the federal court at Tacoma. Deputy United States Marshal Seifert of Tacoma erved the citation. Vartcouveiy;' WashuJ July SL--Bur glary- of the home tf J.TA, Troe'h, n tipnaily known shotgun expert, at Ncv-i : 800 East 15th street, of a shotgun and other articles was admitted to Chief of Police Burgy by R. Thomas, 17, a negro, arrested at f :30 ' o'clock this " morning by Policeman Uirich. Thomas' also admitted si phoning gasoline from V Troeh's car ito a mahclne which ha said he stole from James Buchanan , No. J50T 6th street north. Tacoma. : He said he drove the Buchanan car to Vancouver. The boy waa caught prowling around ' the residence district on 22d street and carried a jimmy and pliers. Nu merous robberies have been reported recently in this district Thomas said he had served time at Mercer Island and the Washington state training school af Chehalls. The manager of the Washington Clothing company reported taking a bad check for 140 signed by A. C Gray. 1 The Interstate Manufacturing com pany plant, at 13th street and Markla avenue was robbed of radio parts. Fisherman Drowns In Shallow Water llwaco. Wash.. July 21. Otto Kuhn. age 30, a fisherman, waa drowned In Bakers bay Thursday while bathing. Kuhn was alone and sank tn five feet of water. The United States coast guard crew at Fort Canby recovered the body after 10 minutes search. Kuhn came heps from Tokeland. Los Angeles Gas and Electric Corporation General and Refunding 5Yz Gold Bonds (Series ) THE history of previous bond issues of this company, which were offered at prices rang-v ing from 97 to 100 and shortly afterward commanded substantial premiums, justifies the ready response to our offering of this issue, Series E, at ! The very high position held by Los Angeles Gas and Electric bonds among public utility securities is due to the inherent strength of the company and its assured future, development. This com pany is now furnishing approximately 75 of the gas and 25 of the electricity used , in the terri tory including Los 'Angeles and surrounding towns, embracing nearly a million people. Its total property value is estimated at over $45,000, 000, and its equipment is being constantly in creased to meet the rapidly growing demand for boh gas and electricity. Net earnings for the year ending April 30, 1922, were $3,200,242.16. Detailed circular will be gladly sent upon re quest. Simply use the -space below. Name Address Bond & Goodwin Mucker AM rAMCICO IMlORPOBATSa UNITED STATES -NATIONAL BANK BUH0IMC ci. PORTLAND , ' IOI AHCCtSS tlATTlt IMORRIS BROTHERS COPJOMIOyl D A Tax Exempt General Obligatloa Boad n $70,000 City of MILLS, WYOMING General Obligatloa Water Bonds , , Dated Jan J, 1M . Dae Jtse 2, 1ISS .Optional After If Tears DENOMINATION $500 PRICE PAR TO YIELD 6 Principal and semi-annual Interest payable at Mills, T Wyoming, or at the headquarters of Morris Brothers Corporation, Portland, Or. LEGAL IXVESTME3TTS FOB BAXXS, TKTJSTS AXD ESTATES Flnaselal StaUmest -. :i'. Actaal valuation, real estate................. Assessed valuation .......................... Total bonded debt (this issue only). .......... ..1825.000 284.000 .......... 70,000 The city f Mills, Wyoming, is In Natrona County, three miles southwest of Casper, the heart of a great farming and cattle raising district, and assured of continued growth and prosperity. The population is 1100 and the only debt it carries is a water bond, for the payment of which all the. revenue from the water system, as well as all taxable property within the city, is obligated. UEGAUtT ' ArFBOTET) BT W. P. U. SOCHE, PORTLAND, ' - OBEGOJT . a.a,. Telephess or Telegraph Orders at Oar Xxpeass u MORRIS B Government und MbRRis building Pnrtl anil ' 8 ROADWAY 2151 JtUI UdllU, RiniissxMOMncw Unjft fry rVin -4 sVAA iivJiy al Bonds 309-fr STARK ST SAfE. DEPOSIT BOXES