1G
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
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6
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77
61
93
139
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87
68
75
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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
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80'
30
83
65
74
19
107;
41 .
9t
1,
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1104
18
78
17
62
85
13
18
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57
48
86
12
77
29
64
158
15
129
31
64
22
118
1166
29
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36
17
40
71
22
22
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62
89
80
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1O0
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109
78
81
81
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48
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High. I
8
80
122
16
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36
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7S
. s . V
11
65
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93
, 0
81
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..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