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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Aug. 7, 1922)
TO Monday;. AUGUst "7, Itm. THE OREGON DAILY r JOURNAL, PORTLAND,- OREGON. '11-- STRENGTH IN RAIL STOCKS AND BONDS IS INDICATION OF-; BETTER STRIKE SITUATION EOROPE'SFATEK AGAIN IN DEBATE si Br Mart I. Wart Wa Street. Nsw Tort. Ah. T. The two chief characteristic In the financial market today were the persistently cheerful eiew taken of the domtstio labor ht--j .. .n iuiim. situation on ma one iFT 7 bad. and the dubi FV i-Ti' 3l opinion reflected on the otbar Band, re sardine the outcome of tha latest effort to settle tha European problem Tha coal i .4 i.NTt4 trlka conferees ad it V; 3 jourced their meeting in., -.'XiM' untU too UU in tha aay tot aniyiaiBs; w be known about It : prerirra to tha eloainc of tna noet esenance. But Watt Street ex pressed it confidence In an earlj termina tion of the coal itrika. and alao it belief in a aimilsr adjustment of tha railway tron- biea by launching an act ire burin moTeraeat in a nnmbar of isdottrial stock and biddina up .Railway char, aoma of them to the beat prcTious reached this year. tails Show Strength Tha strength of tha railway croup, bonds aa wall aa stock, waa the moat significant in cident of the day. for it oame in face of ad vices that tha president waa about to issue i proclamation to tha country on tha a rarity of tha situation produced by tha prolonged action of the strikes. Ordinarily a document of this aort would ba calculated to hare an unsettling effect upon sentiment, especially in speculative quarters, but it had no such result today. On tha contrary, the railroad stocks were tha strongest they have been at any time since the strike began. It was not only an expres sion of assurance in tha strike outcome, but it was a definite indication to experienced ob servers that the market for railway securities was in strong hands. 1 ratlin Eiohano Strong For the cue to the financial judgment gaming the long conference of European pre miers the continental exchanges were more trustworthy than sterling. The market for sterling is still feeling the effect of transfers of gold to -the United States in preparation for payment of interest on the British war debt. Under this influence the rates i strong today, while the continental currencies were weak. The decline was mora pronounced in French francs than in other rates, aa it naturally would be. in view of the greater stake which. France has in comparison with the other allies in the exaction of the n iraum German settlement. It would be pre mature to conclude much from the drop in francs today, but frankly the Interpretation waa that international banking opinion is not disposed to hope for a great deal more from the present economic conference than from the preceding gathering at Genoa and Tha Hague. Investment a foment rroeectt The investment element was increasingly im nortant In the stock market Tt showed in the advance in hizh priced industrials of the type of Woolworth, Kresge. American Tobacco and National Biscuit, all representing com panies so well fortified in their treasury posi tion aa well as by current earnings that present dividends, and in some instances, extra eus trtbuUons. may be regarded as assured. In these stocks, as in the market for railway bonds where a number of new hiah records for the year were made, the neod of adjusting values to the declining rates of money interest waa carefully borne in mind. Undoubtedly investment buvins was an important factor too. in tbe remarkable strength for the dividend paying railway stocks. Equipment Share In Lata Deals As shares of the mall order and chain store comrjanies had been the- features of the forenoon, so the railway equipment stocks were the afternoon leaders. Baldwin Loco motive American Locomotive. Ldrna Iocomo live and Pullman were all actively bought in the last hour of business on the theory that, strike or no strike, the roads must before lone bring up to more nearly normal their,denleted stock of cars and locomotives. The president's latest proposal in the rail war strike that the seniority ouoation be re erred to the United States labor board and that the shopmen return to work pending the decision of that body, reached the street less than an hour before the business day wss over. Tha continued strength of railway mrities in the late dealings and the fact that many of the industrial favorites of the tiav reached their best prices toward the dose, evidently meant that the market waa inclined to feel that this suggestion would be ac cepted by each side. Today's market with the exception of one or two grout was strong frotn start to finish. In a number of instances prices surpassed the previous high for 1822. This was true of Corn Products which hsd a remarkable jump right at the cloaeCopper stocks came in for more attention in the final trading, and Great. Northern Pfd. and Northern Pacific were ec tively bought on fresh estimates of the heavy ! yield in the spring wheat states, which were borne out by the continued fall in wheat prices. NEW YORK BOND TRANSACTIONS Reported by The Journal' "Wall Street Bureau. WtOl Street,- 5CSW TOT, Aa. J. The rrentet streng-th appeared araonr low priced member of tbe fro a p. la. da trial bead, too, aid wall, -while the feaeral raa of troYeraaaaat loaas, aotu forties sad LJbertir, kept steady. The St. Loai at Ban jrraaeiaee) income were aa early faatars, aeUlar t their alrt for the rear. Taoy eoauauea aetlr throuahsat tha aeesioa. xae Mlssoari, Kansas Texas lstaet also worked P appreciably. The adjatmat at aad the as Bene A, waea Usaed, paade their sett price for im, sad the per easts advanced polat. The rapid rise 01 te Balti more M uajo a, loieao v uncisssn division, was a featara. Xae previous hisjh for these bonds wm I". I n y closed rraetloaally aader that riare i gatarday, and this arterwooa Jamped naarly 4 point, su i,eais Southwestern cossonaatea . s-ero Maroaette 4s, Loar Island refaadtBs; , "Lake Shore 4s of IMS aad, the Atchison Adj. 4 stamped, all estab lished hlffh records for the year. Chi cafo Eatters Illinois s aad Chesa peake Ohio eoeiTertlble ts eaaaUed their prenoas tops, wane a si""" other railway Issaes cold only iinuy below their kifhest for the seasoa. The balk of represeatatrre iaes held their around yerr well, in oaiy a few InsUaees did protlt-taklaf wipe oat part of the Jns of the preylomi weeks. This ocearred chiefly la the sngnr fronp, where Caban Cane Snar 8 aad Punta AUes;re sasar Is sinmped off. Caban American Sns;ar as aeia np steadily. Saks Co. 7s straea par for the first time slaee their Issae, and Goodrich tVss were at their best. Fob lie. ntiiltT seearitles were stronr. to isdo F.dison 7 aad the sorth Amer f lean Edison s each gained g-roaad. The softness of French exchange did not aerloaslT affect the French e-OTern meat, municipal and Industrial bonds. rttr of Zarleh 8s raa np sharply to a new ntarh for the Tear, and so did the Dominion of Canada Hs of 1S n.rn. As and Chiistiania 8s also were higher. Belgian s oa the other hand, krats below sir for the first time this season. v.w -rrt Ai 7- Following i an official Hat of all bonds traded in on the Sew York stock Exehance today with price-and tales up ts. nd fncludine the close of the market Total sales today 4wera $11. 886,000, against $, 26H.000 SaluaUy. $10,688,000 a week ao $10,283,000 tyear ago and $8,687,000 twe From January 1 to date $2. 741.008.000 against $1,809,381,000 a year ago. and $2, 803,119,000 two years ago. LIBERTY BONDS Close. Sales ! In $1000 679 Lib 8s I High. I Low. I TOf3$4101 4j do 1st 4s 4 do 2d 4s 601 do 1st 44s 1 do 1st 4 H s reg! 819 do Sd 4Hi ! do 2d 41 reel 1S64 do 8d 4H . 2T4 do Sd 4 Hi reg 1792 do 4th 4 H 28 do 4th 4 1 reg 202 Vict 4 4s 22 do 4 H s reg . 283 do 4 42 do 44c reg. FOREIGN 1 Argentine 6. . . 89 do 7s 1 AiBeLcium IMt . 7 do 8s Ill do 6s 20jOity of Berne 7iC of Bordeaux 16iCopenhagen 5H 21Christinia 8s. . r of Lvons 6s. 2!Cj aContendeo 7s ' 2 Msrseillrs 6a... 6iPorto Alegre 8s. 57G of Paris THi. 4Rlo de Janeiro 8s 1.2 do certfs 8s... 2'0 Soissons 6s... IOiC of Tokio Bs 10104 10118 10050 10132 10124 10038 10044 100S8 10050 10136 10184 10004 (10078H0072 10118 10050 10122 10124 10062 10040 10060 10040 10116 10104 10088 6s 84 26 10052 10046 BONDS 86 100 106 100 8s 11 5 83H 91 H 110 83 H 04 83 Vi 100 85 99 H 100 81 . "71 115 10048 10044 10118 10030 10122 10124 10050 10042 10036 10040 10116 10104 10088 10076 10052 10046 O of Zurich 8 Dent of Seine 7s temn certfs ... 1 92 Danish 8s A 100Vs do 8s B I109H 24 Dominican Rp 5s 94 8 do (si I S0H ft.Dm Can 5Vss nta113H 281 do 5s '26 . 99 4 541 do 5s '52 I 98 H 13! do 5s '31 1100 24 DthEInd rats 6s. 96 H 361 do 6a '52 1 94 86 1100S 86 100 H 106 Vi i!06 104 t !104 K 99 100 114V!115 8SH 88 M 90 HI 91 Vi HOHIllOH BOSTOX COPPER STOCKS Reported by Overbeck, Cooke Co. Bid Ask Bid. Ask. Arix Cm 9 V4 Lake Cp 4 V 4 Adventure 60 70 Michigan. 2 li 2 Ahmeek. 64 64 Vi Mason V 14 2 Si Alromah 20 50 N. Butte IS "4 13H A'.louex.. 2.1 29 Vipiasing. 5 H B Vi Arcadian. S H 3 X Lake. 20 - 50 Bgm Mns 14 V 144 O D Cop 25 S 6 CslArix 61 lVs Ose Sing 36H 37 CltAHla 288 289 Obvjawa. 2 ' a New Com 19 4 19 Quin Mt 44 "4 44 Vi Onten'ial 9 10 Pond Cr 20 Vi 21 DaTisDaly IM 7 Isle Ryl. 24 25 E. Butt 104 11 S Boston 1V 1 FrklnMg 214 2H So Utah 5 10 Hancock. 20 20 Sup Cop. 4 V 4 Helvetia. 1 1 T'lumno 74 76 Is Creek 10B 106 Ventura. 29 29 do pfd 92 '4 92 Wyandott 60 75 Kerr Lake 8 T 4 64 79 12 2 11 6 French 8s 100 do 7V.1 1 99 Imp Jap 1st 4Vis 93 da 2d 4. .1 92 ' do uteri In 4s. I 78 Denmark 8s .... 110 6s 22 1 Denmark ctfa. 25 Italy 6 Vis A ... I 64Neth1snds rets 6s 157ISweden 6s $04 Bolivia 8s I 30 Chile 8s '26... 6 do 8s '41 ... Ill do 8s certfs . . 38;Cechoslovskia 8s 6 Uruguay 8s SjQueenlsnd 7s. . . 6 do 6s ctfs. . . . 18iSwiss 8s V'R. G. de Sul 8s 99 96 97 104 98 102 102 108 96 105 109 103 119 100 100 110" 110 105 101 85 ! hi 46 83 92 88 100 84 99 99 80 71 114 91 109 109 94 90 113 99 98 99 95 94 100 99 93 93 78 110 88 S 96 96 104 98 102 102 103 95 105 108 102 119 J00 100 109 109 104 100 85 98 45 4 Sao Paolo 8. 39 V. K. 5 ' 59, do 5s '27 17 do 6s '37 65 Brazil Ss 82 do 7s 82 Hexieo 5s 12 do large 5s. NEW YORK CITY BONDS 4'NY City 4s '601101 1101 2 do 4s "65. .il07107 2 do 4s -57 100100 RAILROAD BONDS 8 ATASF gen 4s.. I 98 93 41 do cvt 4s r 84 88 2 do sdi 4s. . . . 86 85 2IACL 1st con 4s 91 91 93 93 83 100 84 99 99 80 71T 115 9LVi 109 109 94 90 113 99 98 100 95 I 94', L00 99 93 92 78 111.0 99 8 97 104 98 102 102 103 95 105 108 108 119 100 100 109 100 104 100 85 98 46 101 107 100 98 68 86 91 San Diego Consolidated Gas & Electric Co. First Mortgage & Refunding 5 Gold Bonds Series "B" The San Diego Consolidated Gas 8c Electric Co. operates without competition in the City of San Diego and vicinity, comprising a popu lation of 101,977. The net earnings for 1922 were equal to more . than 23 times the annual interest charges on the total funded debt of the company These 25 year 5bonds are secured by first mortgage on modern, well maintained properties, with an electric generating capacity of 19,450 k. w. and a daily gas capacity of 6,125,000 rubic feet. We will be glad to furnish circular and detailed information upon request. Blyth. Witter. tL Cfo Governments Municipal, Corporation Bonds Fourth and Stark, Portland Broadway 6481 fiATT FRATfCISCO LOS AGLES 3TKW YORK CHICAGO SEATTLE POKTLAX Bales '"ITS 1 S - 1 9 In $1000 High. Low. i (Toe A O 6 do ref 6 . . . do cvt 4s. do gold 4 . . . do 4s ToleVGa do 3s 6 SiBdwy TthATCoa5j 2iBkln Ban T 7s. II do Ts tr co ctfs JO B RAP eon 4l 6 Can Nor 7s . . 17 do deb 6 17 Can Pao 4s . . lSlCent Ry Braail 71 19 (Cent Pae 1st ref 41 12jCnt Pas StLine4s 10 1(C e O cvt 5. SI de geo 4 -, 41 do cvt 4 Hi 7 Chi A Alt rfg 3 71 do s 36 C B A Q ref 5s 71 do ext4sNebdlv 22 C A E I 5a ... 1 1 Chi (i West 4 . . 10 C M A BtP 4. . 40 do cvt 4 . . H do rfg 4 i A 121 do cvt Bs B. . 1 de deb 4s. . . . 2)J N W 7s 2 do deb Ba . . . 1 j do in 4 . . . It do gea 5. . . . 120iChl Ry 6s 8! de 4s 1 !J K I A P i 1731 do rfg 4s lOIChi U Bta 4 19Chi A W I eon 4 1C C CAStBdb4 ) 111 do os A . 7Cleve U T Bs 6 C. AS. 1st 4s 11 do rfc. 4s 2 Cuban R.R. Bs ID. A Had. cvt. 5s 1 do B s 1 do 7s . . 25 O. A B. G. rfg. 5s SO; do con. 4. . 72 In. g. lien 4 3! do cvt. 4s A. 181 do cvt. 4s B. 1 IG Trunk Can 6s 5jGt Nor 7s 8; do reg '36 . . 12 do 6s .. 28 G B A W db B l!Hav El ft H AP5 2 ,H V 1st con 4 s! 40 H A Mn rf 5 A 13(111 Cent 5s toon 8 86 83 6 93 72 83 ft 2 112 111 80 91 90 SB 95 88 89 62 50 101 6 82 60 79 70 66 76 7 107 100 88 106 83 8 84 82 92 76 73 90 90 102 1102 10S106 101 89 8 86 7$ 93 72 83 82 92 112 111 -60 93 90 83 86 89 89 68 1 101 96 I? 79 70 66 76 ST 107 100 88 .110$ I B2 . . 82 4al 84 . . 83 1 BZ 27 7 2 16 71 62 4 8S 11 do SLANOjtSsA do rfg 4s . do 4s . . . Int R I er 7. do ref 5 . do bkrs ctfs. Int O N 5s notes! I a N adi 6s . . . do 1 7 i Iowa Cent ref 4si SiKsnawAMch 2d 5s 62 KC FtSAM4s .. BK C Sou 5s. ... SrKC Term lit 4s 21, S A M 8 3 s 66 do 8 s deb 4s 2 Lehi Vsl Pa gn 4s 121 do 6s 1 8 Long 11 ret 4s. .1 4L A N uni 4. . . 5 do 5 Hi 1 15'L.vl A l,W Bs. . )f,M DU, 1st rfg 4s! 11 lit A N lit e4 s llMinn StL rfg Bt I 1 jSi A 8tPS8MBs108 93 90 85 98 101 111 46 77 56 52 62 113 H 111 1 10 108 12 85 88 85 101 99 89 83 96 69 69 64 52 100 47 97 80 89 84 75 95 82 103 82 98 107 72 47 90 47 llMo K A O 6. 3 7 1 do lit 4 i 10 do 4 B 105 do 5s A I S69 do sdj 6s A ... I 61 do 4 s ctfs. . 91 i do tts O I 8 'Mo Pae 6 I 44'Mo Pe gen 4. . 1 MAO StL. dv 5. 4 New Or term 4s. 1 New Or Tax A afx 1 ine 5s 26;.NY Cent con 4. 29' do col 7 ... 3! do rf Aimp 3sC 1 NIC HR ren 3 135 do 5 4 1 do Lake Shore col tr 3 - . 1 do M C col tr 8 s . BiNY ChiAStL db4s NTNNHAH deb4sl do 6s N Y Rys adj Bs do tr co ctfs N Y BusAWg mS1 N Y W A B4 s Nor A Sou gen Bsl Nor A WNRdiva N A W RRcon4s do cvt 6s . Nor Pac 6s B do nr In 4s do gen 3s ref and Imp 5s . Ore A Csl 1st 5s. rt a i - i . V . !5 do rfg 4s . . . . O VY R R N 41 S4 r I. M R R Sietfi 5 P R R 7. do 4s stp '48 do Bs do con 4 s . do gold 6s . do g m 4 s. Peoria A E in 4s Pere Mar rff Bs. do 4 s Phil Ry 4s 4 84 8 6 4 14 1 2 1 10 71 10 7 i 8 1 20 8 15 7 1 1 87 MS 70 85 MO I 97 100 66 94 79 72 108 105 87 79 97 74 79 67 51 81 11 9 B5 65 68 100 03 116 108 89, 97 110 104 93 84 28 110 90 102 100 110 93 88 98 82 52 99 'i 93 89 85 98 101 111 46 77 BS 52 52 113 111 110 102 11 35 88 8$ 101 99 89 83 96 69 68 64 51 H 100 46 97 80 89 84 75 95 82 103 81 92 107 72 47 90 47 103 87 83 70 86 59 68 96 100 66 94 79 72 108 105 87 79 97 74 10 Phil Co rf 6s. S!P R . A P 7 103 46iReadina gn 4a 240ro AN W 5s. . S5SLIMASRAGa 4s 70jS L A S F pi 4sA i do 5s B . . 6, do gen 6s C. . 82 do sdj 6s ... 108St.L.AS.F.inc.6s 7 do gen. S sD 13 St U S. c 4. S do 2d 4 31 do term 6. . . 15!StP.AKC.SH4 s 6St. P. U.aU.4 s 3;St.N. P. 6s 6IS. A. A A.P.lst4tl 11 8.A.L. gold sts.45 31 do rfg. 4s.. 29 do sdj. 5s. . . 75 do con. 6s . . 45,Sou. Pse. rvt.4s 12 de rfg. 4s. . . 2' do col. tr. 4s 61 i. Ry. teju 4s. 16 do 6Hs 1594IC. V. M. 5s.. 2 R. Ry. L O. 4 1 Texas A P. 1st Ba 2,3d Ave. 1st 5s. 2 do rig. 4s. . . . I do sdj. bt. . . 6!T. A. St-L.rfg.4s. 3C P 1st 4s 34 ! do 1st 4s. . . . 9 do cvt 4s. . . . II do ref 4s. . . . 2,Ta Ry A Pow B. 14Va Ry s 42 West M1 4s. . . . 2 1 West Far 5s. . . . 5 West Shore. 4s. . 161 WALE ref 4s. 85 104 84 74 87 100 82 74 94 78 68 82 83 08 100 77 60 43 28 H 64 93 91 88 70 102 98 78 91 05 64 . 64 81 104 95 95 89 78 98 66 86 85 69 101 89 86 85 73 92 72 83 82 3 112 111 80 2 90 85 96 89 89 63 51 101 96 83 60 79 70 6 76 67 107 100 88 105 82 82 84 83 92 76 90 102 103 93 90 85 98 101 111 46 77 fit 62 52 113 111 110 102 12 85 88 83 101 99 89 88 96 69 68 64 52 100 47 97 80 69 84 75 96 82 103 81 92 107 72 47 90 47 103 87 83 70 83 69 68 97 100 66 94 79 71 108 105 87 79 97 74 WOOL RISE IT BOOSTING CARPET Philadelphia, Aag. 7. The advance la raw wool ha not been reflected here apon the price of rags and carpet. hlost local mills making Wilton and Axminsters are booked hed suffii-vently to operate at capacity for the remainder of tha season bot manufacturer! of velvets and tapestries are not so fortunate. B RI CR S Cleveland. Aug. 7. The tnel hortafa In this lection haa checked brick manufacture and aa a result of the high price for fuel the leading manufacturers in this district have closed carta of their plants. Other unit are expected to close shortly. COAL. Ptttsbnrt. A ox. 7. The coal sitnatiea 1 more scat here, necessitating several important steal Interest to materially curtail operation. Jones and LaaghUn have closed one by-prod tirt coke unit and have banked two blast furnaces of the EUaa croup. The Carnegie Steel ceas- neny ha banked two furnace and blown out another ia two (roup, namely the Xatj aad the Carrie. COKE Pittsburg. Aug. 7. Not enough eoke I available to establish regular markets but pics no salea are reoorted at from $14 to $18 at the ovens for Connellsvill furnace. What coal is available ia eliing at $8. to $9. 79 67 61 80 10 9 B5 I S.I T 68 109 93 116 108 89 97 110 104 93 88 27 110 90 102 100 109 93 85 97 82 53 09 103 85 V 104 84 78 87 100 81 73 94 78 68 81 83 98 100 77 60 45 28 64 9$ 90 88 69 102 97. 76 96 95 64 64 81 104 95 95 89 78 97 65 86 85 69 7$ 67 51 80 10 9 55 55 68 109 93 116 108 88 iflSCETXANEOCS A INDUSTRIAL 2! Alaska G. 5. cvl deb 6 N 6 2 Am As- Ch 7!104 81 do 1st ev 6s. 98, 14 Am Pmlt 1st 6s. 94 3 16 47 23 -27' 1 8 12 IS 8 2 1 6 6 3 SO 1 a Am Sue A Rf 6sll04 a TAT cvt 6s. 116 do col tr Bs. . 99 do cvt 4. .1101 do. eel 4 Am VT Works Bs Am Wr Pap 6s . Anton ?urrea TJn alarm cvt 6a . Annr rl eat 4 si Atle Frt cvt 7 AO Ref 6.. do deb Bt . . BMwn Loco 6s. Bell Tel of Pa 71 BarasdeQ 8 A. . Beth 1st ext 6 do rer 6a. ... . do 6a s Bklya Edl B ... Can Gen El 6s . 3 Cent D Tel B . . 8 Cent Lea gea Be STlCerro DePaa ertSal 2 Chile. Cop ert 7 si 21 do col tr 6s ' Cole ladun 5s . S Col Gas A Elan 6s 2! Comas Cables 4s 10 Cons Coal Kd 6sl 5ICa Cm 8a cn db7l '18! do 8a sta . . 10 Cub Am Su 8 1 (Cumber! T A T 51 1 Detroit C Gas 8 3 Det Ed rf g s F7 do 5a 2 Det Rtv Tun 4J ll Dua Mtrh db7sj 2 Dormer Sti ref 71 a viLFupa ue ia I 3 Sj 8 Duqu LC A POW 6s 2) do 7 . IT Em GaAFu erTHd 8 Flak Rub Co. 8s. I 14;Fraa I D db 7 sj IS, Fran Bug 7.. '.Gea S db 6s. . . . 2 do 4b 3s . 10Goodrfch 1st 6 6 -Gdy X R 8s 41 ll jta Jl 'SI 93 1 86 82 90 89 103 100 103 108 108 99 96 99 102 79 98 121 105 92 78 4 T 90 90 94 106 94 100 lOS 95 87 108 98 10T 103 1 98 SOT 9T 93 108 90 102 11 101 6 104 98 94 108 115 99 100 92 81 86 97 110 H 104 98 83 27 110 90 102 100 109 93 83 98 82 52 99 103 85 104 84 73 87 100 82 74 94 78 68 82 83 98 100 74 60 45 28 64 93 90 88 70 102 97 76 96 95 64 64 81 104 95 95 89 78 97 66 86 85 69 BONDS 6 104 98 94 103 L16 99 100 93 81 86 82 90 39 103 100 108 108 108 99 96 99 96 102 79 7 121 105 2 TT 94 7$ 90 0 4 106 94 100 lOS SB 87 108 98 107 109 91 81W 1ST 9T 98 10T 90 102 82 0 89 103 1O0 108 108 103 99 96 9 96 103 79 7 123 105 92 T7 94 75 0 8 106 4 100 108 87 108 88 107 108 91 98 10T 7 98 108 00 116 7. Further cur operations in the bortag was i STEEL Youagatovrn. Ohio. Aug. tailment of steel companies' valleys because of the fuel ported today. TIRES Akron. Ohio, Aug. 7. Tire manufacturers hara eatisnata the average annual tire con sumption at about 8 tires per car. If thia basis 1 adhered to, production for 1928 will be ia excess of 40.000.000 tire. WHEAT Minneapolis. Aug. 7. RaDroada reduced fare to the great what-rowing sections of the Northwest and t&eae are bringing thousands of harvest hands. The present labor supply will probably be able to nan die the crop. POTATOES 'Wilmington, DeL, Aug. 7 The white rjotato crop of the Maryland, Delaware, vlr- cinia peninsula ia a record-breaker thia year. The heaviest shipment ia tnetr History nave been mad. HARDWARE Pittsburg. Aug. 7. Hardware is In active demand, but for general mine and mill sup plies Uis demand has been abruptly checked. Brass finishers have a fair run of - current order. Construction line and other building material are In good demand. WALL STREET STOCK QUOTATIONS Reported by Tha Journal' Wa Street Bureau ( (Wall 8treet Journal Financial Review) Haw Tork, Aar. (TJ. PO TaI tha exelaslT hassldlty late eonalder atlaa. rail stocks showad akreptloaal antmatioa 1 tha Sew Tort Stock ex rhajire today. Prices la the eatiru rrasja forged, ahead taroarhosit tha ses- sloa. Jliw hlf hs far Iks year wera obtaiaad by C. 0 tha St. Pal Is sae. Soathera RaUvsay, Great Karth ra pfd. aad other rears seatAtlra rails. Presidsat Hardlas" aroaosal t sab talt the sealerlty ejaesUoa ta the rail road board was looked apoa as aa other polltlrat gastaro. Ralls coaUaaed to ib.ots ahsad, re flectlnr tha . oellef ia tha fiaaacial community that early settlement of tha shopmen's strike waa praxtically cr talau , HOSDXRT Milwaukee, Aug. 7. While a good demand for hosiery is reported by all nulls here, some uncertainty is expressed regarding tha fall price. The consensus of opinion, however. is that they wm remain about ue same a present prio BURLAP New York, Aug. 7. Shipments of burlap from Calcutta, expected at frequent intervals beginning the early part of next month, will be a settling influence on prices. Nineteen vessels are now en rout from India to this port with burlap cargoes. MILLINERY Atlanta. Ga., Aug. 7. Leading millinery men from the middle west ana east are dis playing their fall line at a local hotel. BUUAK Havana. Aug. 7. On estimate of the Cu ban sugar crop for this year places the yield in excess of 3,909.060 tons. Over 4,000.000 tons of sugar have been exported from Cuba so far this year, according to government sta tistics. FRUIT Mulberry. Ark.. Aug. 7. Nineteen car of peaches har been shipped from Mulberry in the last three days. Apple dryers in Northern Arkansas are being put in shape for operation. Much of the season's crop win be dried and canned. Tbe apple crop in the Ozark region will break all previous record this year. 8sles. In $1000 I High, Low. Close. 7,Ind. Steel 5s 1 1 Int Cem 8s . lllnt Pap 5s A 45i do B . . . 1 Int Mr M S F 6s 8Inv Oil 8s ... 1 :J Kayser 7s . . . 4 Kelly Spg T 8s 3 Lack Steel 5s. 4 do 5s . . . i!Ugg A H 7S do 6s IS I 1N 21 261 100 100 87 88 96 95 104 109 100 89 117 100 115 99 102 106 89 HI 98 86 100 98 111 100 100 87 87 96 95 104 108 1100 89 116 100 115 98 102 106 88 97 88 100 98 110 liLorillard Co 7s 15 Man Sug db 7 s 1 Marl Oil 8s ... lMex Pete H. . . 10Mid 8t cvt 6. . 2! Mil (i3 A L 4s 1 Moms A Co 4 s liNat lube 5s. S2N BTA TlstSsAI 11!N Y Edi ref 6 . I Y G E L U A P perm 4s 82 82 Y Tel deb 6s.. 107 107 dogen4H... 95 95 do ref s 106 106 45IN Am Ed Ms. . . .1 S I 92 li.N Ohio T A I, l3 I 95 UNor Sta Pr 1st 5s! 91 91 lljN W Bell Tel 7s.10K 107 1 (Ont L A P Bs. . . 95 95 21Otis Steel 8s. . . .lU0lGv U Hi Pac Uii A E 5s. 91 I 00 1 Pac T A T 5 ... I 57 67 31 do 5 ret .... 92 92 10jPckard Mot 8. 107 107 2Pn A F A T 78. 6Phll Co ref 6s. . . 4 Pub Ser of NJ Bsj 6 'Punta Aliens Sug cvt deb 7 s. I Prod A Ref 8sN Remington 1st 6A Rep Iron Steel 5 Saks A Co 7s. . Sine C OU 6s do cvt 7 s . . do 7s rets . . . 1 21 8 18 S3 40 47 3 8 3 So Port Rie 8i Sou -Bel TAT llStd Oil Csl deb 7s 13iSteel A Tb Co of Am 7s . . . . 13!Tidewater Oil 6 1, Toledo Edi 1st 7s 41 Tobacco Prod 7 s 16Un Bsg A Psp 6s 2jUn Eleo Bs liUn Tsnk Cr 7i 14Vn Drag 8 1 2 27 2 1 1 4 U S S Corp 6s ctfi V S Rubber 7 do Ss U S Steel s f 5 do 5s reg Utah Pow A Lt 5s! 20)Y-C C 7s rets A 12j do 7s 5 do coL 7 s A 1 War. S. R. 7s. 2W. P. Pow. Bs. 1 W. U. coL 6s. . . 11 do r. est. 4 s 6 West house lu. 7i . . 1 Wick Sp. S. 7s. 86 Wilson 1st 6a. . 11 do cvt. 6. . . . 4 do 7s STANDARD Ol 200! Anglo Am Oil . . 10i Buckeye P L... lOiOhio Oil 50 111 P L 27 5 Imp Oil of Can.. lOOjlnt Pet Co Ltd. . 2 0 IPrairte Oil AGaa . . SOOiPenn Hex Fuel. . 4800,8 O Ind 4003 O Ky new 60jS O N T 101 101 99 99 85 85 110 110 102 102 94 93 93 93 100 99 98 98 104 104 99 99 98 98 101 101 86 86 106 106 101 100 103 103 107 107 104 103 99 98 93 98 108 103 111 110 93 92 108 107 90 90 104 103 102 102 91 90 98 98 105 105 98 98 103 103 93 93 98 98 110 110 108 107 99 99 100 100 93 93 104 104 j STOCKS 19 18 OS 95 27S 27B 162 162 111 110 21 21 i 56 66 27 25 110U 109 lie 93 421 420 100 100 87 88 96 95 104 108 100 89 116 100 115 99 102 106 88 98 86 100 98 111 82 107 95 106 92 95 91 108 95 100 90 67 92 107 101 99 85 110 102 04 93 100 98 104 99 98 101 66 106 101 103 107 104 99 98 ' 108 110 92 108 90 108 102 91 8 105 98 103 93 98 110 108 99 100 93 104 19 95 275 182 110 21 66 27 109 96 420 Sales. Stocks. Forelara Exchange Market New York. Aug. 7. (U. P.) Toreign change opened steady. Sterling 84.46 up 11-18; francs .0818 off 2; lire .0461 oft 1 : Belgian .0773 of! 1 ; marks .0018 off . Foreign exchange dosed firm. Sterling. 84.46; Jraaca, .0613; lire, .0480; mark, .0018. Mill II I I j OPDAW-WErmypRTH &g 201 Railway Exchange ' STOCKS BONDS GRAIN COTTON PBIYATE LEASED tTIKES E. P. Hutton & Co. MEMBERS ALL PRIlTCrPAXi EXCHANGES Solicit Inquiries All Local Secarities 2J00 60 ' 866 700 660 ' 'sod '6500 800; 100 ISO 8X00 100 1K00 15.00 2:00 LOO ' sob 100 TOfi 3N)h l-00 100 $-00 900 4300 S00 2W00 ;son mo woo 23.00 Adams Ex .... Ad Rum Agr Chera .... Ajax Rub . Alaska Gold Alaska Juneau . A! Had Cheat . . Allis-Chalmers . do ofd ..... Aa Beet Sa . . Am Bosch . . . . Am Can Co ... do pfd Am Car A Fdy do pfd Am Cot Oil ... Am I 'rug Synd i Hide A Lea do pfd Am Ice Am Intl Corp . Am Linseed . . . do pfd Am Loco Saf Rax . . . Am Ship A Com Am Smelter do p(d ...... Am Snuff Am Steel Fdy . . . Am Sugar ..... do pfd Am Sumatra Am Tel A Tel. . . Tobacco .... do B Am Wool do pfd do P pfd ... Am Sine ....... Anaconda Used Ott Atchison do pfd ...... Atlant Coast Line Atl Glf A W I Baldwin Loco. . do pfd .... 7300'Balto A Ohio Hith. 74 10 300 do pfd 1.00 BamadeU Coyne 1300 Beth Steel B 00 Booth Fish 00 B R T 500 Butte C A Z 400 Butt A Sup kOO Bums Bros 300 Caddo Oil 1400 Calif Packing . . . J00 Calif Pet . . . . do pfd 2200 Canadian Pac . . . 110(1 Cen Leather . . . 2300 Cerro de Paaco.. 1 100 Con Textile . . . . 200 Chandler Motor . 0100 Chgo A N W... 400 Ohi Gt W 1100 do pfd 2400 Chili Oop 00 Chino 9700 C M A St P .. 18700 do pfd 2700 Coco Cola 6500 O A O Colo F A I SOOiColo Sou .... SOOiColo Gas A Elso TOO Columbia Graph 800'Con gas 200 Low. 400 8200 200 1700 4500 200 3700 600 500 8700 Cons Cigars do pfd Contl Can Cities Svc Bkr Corn Prod . . . . : do pfd ICosuen Oil . . . . C R I A P . do "A" pfd. . do "B" pfd . . . Crucible ....... do pfd , Cuba Csne do pfd Cuban Am Su 1400 Dome Mines 600! Del A Lack 2700Davtaon Chem . . 200Endicott Johnson 4400iErie 2800 do 1st pfd. . . 200 El Stor Bat. . . '. 1 1 00 Famous Players . Fed Min A Smlt do pfd Flsk Tire Gen Cigars Gen. Elec . . . . . a-600 Gen Motor 800 do 6& 8 00 1 Gen Asphalt l800Goodrioh ..... GUdden Paint . 100Grsnby 400Gt Nor Ore. . . . I300 do pfd. . . . Greene Cananea 'Gulf S Steel. . . IGlen Aldcn 00 Houston Oil ... Hupp Motor . . . Ilia Cent Inspiration .... lot Agr Corp ci do pfd. .... 400 Iatcrboro 1600 1000 100 11 73 63 4T' 89 .. 8 '76' ' 118 $0 121 0 18 61 98 184 89 81 103 40 128 108 148 00 18 64 110 102 98 115 82 122 68 63 81 77 8 25 7 81 134 11 81 58 142 88 89 10 69 62 9 82 22 SO 32 49 71 75 49' " 02 4 125 37 '76 116 11 44 46 ' 84 02 ' 1 6 40 27 32 181 49 82 16 27 48 86H 84 12 77 13 81 71 87 29 40 87 TO 18 Tj" 63 4T 58 5 TO" ' 111 88 110 6 18 00 08 1$4 . 88 81 10$ 80 128 150 146 00 18 68 113 101 98 118 81 120 87 63 81 77 8 34 7 80 134 1 1 80 67 141 87 89 66 80 8 21 21 80 31 48 69 73 "48 92 4 124 87 75 iio 11 43 45 '84 91 "16 40 27 31 130 48 Bt 17 20 46 84 64 12 77 10 13 800 200 300 400 800 2000 400 200 'sioo S300 do pfd Interstate Call. . Int Harv do pfd Int Mer Marin. do pfd Int Nickel Int Paper ...... do pfd. . . . . . Invincible Oil . . . Island Oil Jewel Tee. . . . . . 3 BOOK C Southern... .... I do pfd , SOOOiKelly-SpgfM. . . 200!Kennecott 1900;Keystone Tire .. 6 00! Lack Steel S00Lee Tire lBOOiLehigh T alley.. Lonllard ....... Lowe Theatres. . . U A N. Mex. Seaboard. . . MaxweU Mot. "A' do "B" May Stores 800 400 1000 800 200 5000 iOOniJtler. Pet. 300Miami .... 14001 Middle State 40O0 4100 800 15800 2500'Mo. 3800 500 400 OU. Wi 200 700 10O0 11000 "366 000( 3400 300 Midval Steel M. K. A T. do pfd ... . Mont. Power. Mont. Ward . Pac do pfd. . . . M. St P. AS.S'.M. Maria ad Oil . . . Martin A Perry Nat. Enamel. . Nat. Lead Nevada Con. . . New Haven. . .. Norfolk A W. Nor. Pac Nova Scotia Steel N. T. Air BrakeJ N. Y. Central.. N. Amn Okla. . Prod. ref. iOntario Silver . 55 76 110 41 1 8 106 15 66 17 54 12 i '44" 86 9 ' 76 27 66 16 135 23 68 10 127 174 29 12 84 18 42 25 23 67 67 88 83 82 117 80 78 08 74 2 13 $1 70 82 29 39 84 55 76 109 41 1 8 8 104 14 64 54 12 26 42 88 8 76 27 65 16 134 22 67 19 122 172 29 12 88 17 42 34 28 66 67 88 65 81 116 78 78 07 Tl 2 Bid. TT- 18 37 11 1 78 53 97 46 83 58 OS 170 23 26 6 18 70 113 86 8 BS 120 6 18 01 08 134 88 1 10$ 80 182 151 90 108 80 18 64 113 102 01 114 81 122 112 68 68 81 77 8 84 7 80 H 134 10 80 67 93 141 87 S 10 68 82 8 21 22 30 82 49 70 74 so 49 02 4 124 37 66 76 19 116 118 48 45 08 84 92 92 10 40 37 81 131 48 82 17 27 46 84 12 63 12 76 179 18 81 70 83 IB A 39 87 80 82 65 76 17 100 41 8 37 1 8 8 105 116 in 17 54 85 12 17 26 57 43 36 9 76 27 85 168 16 184 22 67 10 128 178 29 12 84 18. 42 72 24 23 B7 66 88 29 55 100 16 81 118 80 81 TT 98 T4 2 7 Sale. I Stock. SOOlOatario A VI..,, 8 00 Otis- Steel . ... 100 Pacific Dee.... $00, Pac 6a A Xlo 18 OO Punta A1T i SSOojPacifle Oil ... 4100lPan Ass Pet.... 1100 do ".... 3700 Peaaa 200 1 People' Gas . . . 3 4 00 j Pere Marquette. $00 Pure Oal lftOOiPhiUtpa Pete .. OOOiPtere Arrow... 800 Pierce Oil .... $00 Pitt Coal 36.00'Pitt A W Va. . lOOOjPesm Sta Steel. . 100 P Steel Car... 8800!Pulima 1200, Ray Con ..... SS00Reading 4 OO i Remington 600 Replogi Steel. . 400 Rep I A S.... da cfd .... 10600!Rep Motors.... IB 00: Royal Dutch Oil. 400, Ry Steel Spg. . . . . . . stand OU Pa. . . 8600 8r Roebuck.. 100 Shattuek, Arts.. 100 Shell T AT... 600 Sinclair Stand Oil Ind . . .... Stand Oil N J . . 100 Sloas Shef . 4900 Sou Pae Maooisou Ry OOO 1 Stand OU Cel. . 3S0rl iitir lOOiStratnbcr Carb. 18900 IStudebaker (Swift A Co. ITena Cop A Cb . Texas 1 u . . . . 2900Txaa Pae . . . . 300Ta Pae U A O. 3200Tob Products . . 1400tTran Contl OU. . 300 1 union OU Dei 00 3300 Union Pae United Allay United Drug United Food Prod! United Fruit... Union BAP... USUI Pipe . . . Waited KU Store V B Ind Alcohol O B Rub do 1st pfd. . . U S Smeltinc . . C S Steel do pfd Utah Copper . . . Va Chem do pfd 4400Vnadium Steel. 82001Vfvaadoui .... 3800 600 8001 100 100 3000 800 1000 200 100 870O 800 00 200 I High. 1 1.x 1.' 11 7 Tl VA T5 0 4$ 87 89 48 13 7 B 41 7 82 122 18 TT 87 83 72 8 B8 109 05 64 10 88 80 110 47 92 27 U06 81 46 182 10 47 82 24 B4 14 2V 144 88 Ml a 147 14001 37001 BOO 800 800 1300 000 iioo 100 100 600 600 '466 600 Wabaah do A pfd do B pfd . . . Wells largo . . Western Pao .. do pfd Western Union . Westhouse A B. de S A hi West Md White Motors . . Willys-Overland do pfd Wilson Packing Wisconsin Central Woolworth Worthinftoa Pmp WALE White. Oil I White East Oil. Money 63 2 07 106 41 101 120 66 27 49 12 LOW. n ' l?5 70 83 84 74 69 40 87 88 89 4t 1 7 4 40 7 83 120 16 Ta 87 S3 71 3 53 109 93 81 10 80 80 109 47 01 80 105 80 48 181 io' 46 1 24 BS 18 0 148 87 80 8 147 Bid. 1$V-18 83 28 81 10 68 111- 62 12 48 8 194 'i4 8 2 62 56 103 41 100 1191 es 27 '48 11 82 SB 80 10 2 110 'i 11 48 8 198 'ii" ' 7 "b'h 341 10 T T0 63 h T 9 46 84 $7 48 10 7 04 83 122 ia 70 n 5 T2 1 8 83 I 108 I 95 84 10 88 80 108 181 4B 02 27 105 80 44 131 102 10 46 81 L 24 fast vo ?$ 1$ 18 144 87 T0 7 147 0 33 H 68 2 $6 106 40 101 119 6 27 81 40 12 IS 33 23 80 10 3 110 94 1 11 48 r- 43 41 20 189 . 61 14 7 25 4 ATiYi1r WTJTIWG MLrEYKTl STARTED X VWOOla M AmXXT Boston. Ana. T.-A firm tone aaafenstaij iaed dealing ta Snstsmer stmt today. A sldefahla meeesaeat was aetad ta : It Weed wools, and the belief was expreesed that eehisna buying had begun. Ninety-five eente (or clean Meed ha been established ta Men tans, ales while lees desirabfcs aredes have go aw for 99 . -. There ia hasteeso ta creasy stem vwoht. rrtees ars TssrHary wool r r aow "eosslTie forward freely fro as tha West, lartly U the Panama eaaal route.' July arrival et domeatio wools were 40.860.800 fieands as eoavpared with 34.888.00 foe Jaly 1831. v. y,-;- r t, ' " ' l'TOTJIKiXOSEsKroOr ' CentrsOt, WssK Au. T. Stsnloy Brlssldaa, la, son it A. R. Brisolden of aSUns, ioat bis rlcht root Saturday aa ho aUtampWd ta strop from s moV inr train, it- i j '-;-.- . Total sale storki, 897,200 hara. Total salea bonds, $12,153,000. transac- FOREIGJT EICHA5GE RATES Corrected daily by the foreign exchange de partment of the United Btates National bank. Quotations below (except the pound eter- lih era Quoted on the basis of 100 unite foreign currency. Opening nominal rate on bask tlons: Lbndon Lbs. stlg. . 8 Paris. Francs. Belgium Franca. . . Berlin,, marks Genoa, lire. Athene Drachma . Copenhagen Kroner... . Christian! Kroner, . . Stockholm Kroner. . . Hongkon Currency. . Japan, yen . . Shanghai Draft Cable Par Checks. Transfers. Value. 4 45 $ 4.46 $ 4 86$ 817 H 8.18 19.80 T.72 7.72 19 80 .13 .13 23.61 4.61 4.61 19.80 3 00 8.03 19.30 211.47 31.62 36.70 17.07 17.12 26.70 2S.07 , 26.13 36.70 87.95 58.20 4T.70 47.85 77.25 77.B5 Canadian dollar discount, 1 , per cent. BANK Clearing Clearings Balances Clearings Clearing COAST STATEMENT OF Pet-Mane; Bank 1922 Clearings Monday $ 6.940.714 $ Balances Monday 1,682,087 Ban Francisco s Banks Monday $21,400,000 Seattle Monday. . . . Monday . . . Oakland Monday . . . Lee Angeles Banks Monday $18,398,348 Taooma csank Monday's transaction 8 8,141,000 Bank Sank 1921 0,822,771 687,885 6,670,757 1.660.306 .8 1.5S2.OTJ0 Moasy and Exehaag-e Ksw'Tork, Aug. 7. (L N. S. Call money on tbe floor of the New York Stock Excbang today ruled at 3 per cent; high, 4 per cent: low, 8 per cent. Time money was easy. Bates were 4 4 per cen. The market for prime mercantile paper wa easy Sterling exchange wa steady, with businesa ia banker' bill at $4.48 for demand. ForotfS Markets Closed Both Liverpool and Winnipeg markets were closed Monday oa account of a bank holiday. Efficiency Low Cost F.W.Baltes & Company Prttitcro First sod Oak Streets Presawsyassi OVERBECK & COOKE COMPANY Stock, Bonds, Cotton, Grain, Etc .U6-S17 Board of Trad Building DIRECT PRIVATE WIRES To New York and Chieajro It ass hers Ckrieasw Board or Trade CORRESPONDENT OF, LOGAN & BRYAN i v"atj Wheat raiting it carried on exteniiTtly In the district Oversubscribed in 5 Hours ! "i On February 7th last we announced the Talent Irrigation District Bonda ($475,000.00) , and by 2 o'clock the same day erety Bond : had been sold. The Eagle Point Irrigation ' District Bonds are erery bit as' good aa the -Talents. Both districts Are located in the fertile and highly productive Rogue River Valley, Oregon. The products of both dis tricts are equally good. Pears, Apples and -Peaches from this world-famed valley are -sold at top prices in Eastern markets. In Both Districts the soil, climate, water,-crops and Agricultural conditionsare the same. .Morc- ' over, the same laws which governed the , Talent Bonds govern the Sale of Eagle Pointy Irrigation District Bonds. These Bonds are issued to increase! land values through in- creased production. They have been certi fied by the Secretary of State tinder State Seal, making them legal investments for In- . surance companies, Trust Funds and Sav- , ings Banks. The same tax bill that collects School, County and State Taxes collects the interest and principal on .these Bonds. ? t ! ''I . The Eagle Point Irrigation District Bonds z present one of the highest types of invest mentsoffered this year. Bear in mind, too, the 6 Municipal is passing Make res ervations NOW. Price to. Yield 6.25 ! ; x Wire orders "collect." Call, write or phone . Main 4195 for reservations. GE;MIUEROMPANY Portland Seattle San Francisco Losi Angeles Northwestern Bank Bids., Portland. Phone Main 4195 Splendid Highways: Run Through the District J -T" ' v wWrwtwtewwilVe 11 ' f 11 iiBmtimninaiBwimmmmiitiimii i i a 1 i Odd Lots First, closed mortgages of the type herein . listed assure the investor of the highest-yield ob tainable today, commensurate with sound secur- , ity. We suggest immediate action if you desire any of these small remaining portions of high-,' grade, worry-proof securities: ; . ; ' Yielding t5 Due. ..1937 ..1932 Yield; 7 7 $2b00 Amalgamated Sugar 7s. ... $3000 Lewis-Clark Hdtel Co. 7s. .. s.. $3400 W. S. Skinner 7s. . .1928-50-31-32 Vz $1000 Warren Higgms & Cd.8a....... Jb....l926 $5000 Wm. Hanley Co;75 1924 $2000 Wheeler Timber Co. 7S4s..s,.j...e;1926- 7 , -72 7.05 ' -1 BROADWAY and OAK 100 101 r aila O e Sh S l09 iioo iioov iS-'-l '