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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Aug. 31, 1922)
z Oregon. , daily. Journal, . Portland, "oregon. THURSDAY, - AUGUST ,"31, - 1922., - IS SCATTERED SELLING FOLLOWS ANNOUNCEMENT OF CHICAGO AND ALTON .RECEIVERSHIP NEW YORK BOND TRANSACTIONS Bqrtcd b; The Jouun WiU Stmt Burnt ' ?Tw Tor, Aagr. 11. The oatstaad lag ineldeat Ib today's bond market wai the farther abrupt deellne tn the Chicago & Alton t mod $Vi per eeat bonds following- the annoBBeement of the company receivership. AlthoBg-fl Wednesday's break in the Alton boads was quite vloleet, It was evident that neither the bonds nor the stocks of the carrier had reflected sack an early artlnn for receivership. Best of the railway bead list was apparently an affected. Ib the industrials there were few fratnrra and trading quieted down. American Telephone Telegraph s get to a fresh top and so did the JCas san Electric 4s. Liberty boads were slightly lower again la spite of the feeling that bo bbs legislation woaid receive the pres. Meat's -veto, raited Kingdom iVis of were dealt in ob a cash basis. It was the last day for the conversion privilege of these securities. Freach gorernment bonds held ap fairly well while the Seine Is and the trench In dustrials softened again. Mexican is also declined. New York. Aug. 81. Kollnwkii U n offi cial list of all bonis traded in on the New l or stock exchange today with price and tales up t,. and inrlndine the close of the market. Total dales today were $9,859,000 against J12.614.000 yesterday, $12,180,000 a week ago. $10,772,000 a year ago, and $10,731,- 000 two years ago. From January 1 to date $2,983,090,000 against $2.036.1417.000 a year ago. and $2. S 19,2 89,000 two years ao. LIBERTY BONDS tle. I In $10o"6 j High, j LowKlose. OSiUb 3 tia .-10OtSl607O 10070 111; do 3" res. .. 110060(10060,10080 Ifi' do I'd -Is ... .11002-1:10020 10U20 177 do Irt 4 'is .10064:19044:10044 169 21 515: 5! 841 24: 1461 do do 4 4. . . 100l8jl000410010 4s reg 10012, 10012100ia do 3d 4V.a do 3d 4 1 s reg do 4th 4 4. . do 4th 4 a reg Vict 4 . 23 do 4 s reg. . . .'S3 do 4) 12 do reg 4s . . FOKEKiN KsArgentine 5i 10040,10020 10020 10020, 10006j 10006 10048110030,10032 10032 10020110020 10072il0068!10068 1005il0054!10084 10030 10028110028 1001810018lOO18 BOMJS 84 do 7s 102 2K Beieium 7 hit ...104 14 Belgium 8s 104 H 1911 do lis 1 100 Hi 1 Herein SS 93-Rortieanx 6s .... l't. Copenhagen 5 V4 20 Lydns Cs 1!1 Marseilles 6a . . . . 43 Prague 7(ii .... 9 'Rio de Janeiro .Ss 14; do Ks ctfs 1 Saiaso'is os -. -14 Sao I'aulo 8 s. 2 Tokio 5s 1 Zurich. 8s . . . 30 Keine 7s trap o-Iamsh s A 109 80 H 13 i 80 80 hi S3 90 1 (HI 77 hi 83 I 83 101 102 104 !10414 103 hi 1104 hi 99hi 99 ' 109 0 93 80 80 Oft 99 hi 77 ht 101 71 109 80 hi 93 80 hi 80 hi K3 09 99 77 hi 101 71 1 (Danish 8a B ... .,110 H SiDom Can 5 Vis nUil02S 2t do 5s '26 . . . :100 hi 67 do m '57 I 99 H 61 do 5s "31 .. . . 100 102 hi 72 4 .. .1114 H 114 Vi H4 hi cfs i 8 S I 87 87 H 110 jl09H10 93 hi 05 100 S 96 S 94 K 04 80 111 90 A 99 H vn 98 88 hi 112 105 hi 102 104 41iDutchEI re 6s 47 36! do reus 6s '62. 72 French 8s ..... 1431 do 74 45ilmp Jap 1st 4 his. 90 1 do 2d 4Hs. 1171 do sterl loan 4s 8;Denmark 8s .... 57 j do ctfs Cs OUtaly Itl A 14 Netherlands rets 6s 2 1 do O '52 3 j Norway 8s 1 1 Sweden 6s 63 Bolivia 8s . 20 'bile 8s . . r. lsifhila 8s . HChile 8s ctfstst V4l04 "4 1 9 : ( 'zerhoslorakia, . eat I ctfs ril"ruguay 8s . . . . 2, Queensland 7s . . 2 1 iQneenaland 6s ctfs 1 Swiss Uoyt 8a. . 10 Rio Ur de 8ul 8s. OiSao Pauo 8s ... . 806iL"K(iBI UVis '22 134! do 5 49 -29. . 71 do 5s 37 S of Brazil do .... S o( Mex 5a do 4s .... NEW YORK CI UN Y City 4 4i '571107 S 1107 S 1107 MISCELLANEOl'S AND INDUSTRIAL, BUNKS lAd Exp col tr 4s.804 5Ajax Rub 8s . . . . 98 19iAm Agr Chm 7HI104 12iAm Smelt 1st 5-s. 95 H 163iAm Sug A Kef a104i 38sU 28; 5 8 U 13 95 U .l-iooH 112 1102 il21 iioo !ioi ;io8 j 108 103 8s101 87 58 H 444 110 hi 110 hi 102 hi. 1102 ioo noo'i 99H 100 hi 94 94 1O0 98 hi 94 94 80 110 hi 96 , 97V4 98 H 112 104 "a 97 hi 102 13H 104 94 M 106 hi 111 hi 102 hi 120 H 99 hi 100 , 106 107 t 104 '4 100 87 hi BOH 43 H TY BONDS 99 hi 100 94 94 100 hi 96 hi 94 94 80 H 111 99 H 96 hi 97H 98 hi 112 105 hi 98 102 14 104 104 hi 95 hi 108H 111 hi 102 Vi 121 99 hi 108 108 hi 105 100 i 8Ty 57 43 hi 57lAm T i T CTt 8sil20 13: "do co! tr 5s. . 100 1 i j do CTt 4 Hi . . 104 Sj do col 4s ... . 93 3'Am Wr Pap 6s. . 86 4:AnJul"nMar crt 6a 91 18 Armour re4Hs. 91i 2;Atl Fruit cvt 7s. 3s hi 2iAtl Ref 6 Vis. . . . 103 H 21; do deb 5s. . . . 99 8;BeIl Tel of Pa 7a. 10SH 8 Barns!lall 8s A . . . 104 8 Beth Btl 1st ex 5a 1O0H 22i do ref 5s .... 99 7 do p m 5s. . . . 93 H 12' do 6s 100 44 3 Bklyn Edi 7s SD 1084 do Ss I 99 T 80 H 97 Ti 104 hi 04 103 hi 118H 99 H 104 92 H 86 80 H 91 3S4 103 99 hi 108 H 103 hi 98 7j 99 hi 93 s 100 S 108 4 991 so m 97 T4 104 hi 94 104 hi 118H 99 104 92 H 86 81 91 H 38H 103 V4 99 'i 108 104 100 i 994 93 H 1 oo 108 l 99 -y ao i. niTas crisilio jlio 1116 l;Can Gen El 6s, . 103 4 103 V4 103 "4 15 Cent Dist Tel 5s. 1 99 99 ? I 99 74 4 Cen Leath gen 5s 98 98 j 98 19 Cer de Pa cU 8a, 128 127Hjl28 2. Chile Cop ert 7. 1105 hi 1105 S105 H 47sChileCop col tr6sj 95 i 94 4 94 20Colo lndustl 5s. ! 77 i 774 77 2;ColGas4E15s tta . 96 ! 9 j 98 5 Comp-Tab Rec 6s 97 hi j 97 97 H 5 ConCoal of Md 5s! 91 hi 1 91 ( 91 hi 3 Compajiia Azacua- f Parairuay THslOl !101 1 101 lOICuba Cain Sug i crt deb 7s. . . 22j do 8s sta ... SjCub-Am Sug 8s 1! Denver Gas 5s. 4:Det. Edi rfg 6s. Ij do rfg 6s ... . 5 DetRiT Tun 44l 91 lljDmnMth deb7Hsil08H 18:Donner Stl ref 7sj 06 3! do lljDup de Nem I . 1 90 i 93 . ! 93 I 89 . 1104 98 90 93 93 89 90 93 93 80 103H;103H 98 98 (91 91 108 llOSH I 95 I 95 hi ... I 96 I 96 96 Hs;10S 1108 108 8 Injq l.t & Pow 104 U ,104 V 1104 U 4 F I 1 deb THi: 04' 94 hi ! 84 hi 30 K G4K crt 7's. 97 V, I 97 hi j 97', 3 Franc Sug 7 Ss. . 101 1, jlOl 101 2;C,en'l El deb b-s . ; 1 07 !1 07 i 1 07 32'loodrich 1st 6 W s 1 02 !l o 1 U II 01 1. 37;Gyear TU 841ill5 lt4 'I14T4 Branby Min Holl Am I 6s 7:H iR deb 5 S s tilil Steel def 4 4s 9 Ind Steel 5 . . . JiOnter Agri 5s . . 5 Inter Pap 5s A 12 do 5s B ... . S:in Aler M S F o lilnrincible Oil 8s 9 Kayser 7s .... 2 Kelly Spring T 8 , 4,1-ack Steel 1 5s. . 41j do 5s 1 . . . . 1 ,'Lisg Myers 7 ! do 5s 3 I.onliard 5s . . . 4 Manati Sug db t 7 his ctfs 11 Mar Oil 8s 2r do 7Hs ctfs. .: ?:Mex Pete 8s. . . 2 Mch Stat Tel 5m . . . ! 99 99 i 19 rets! WO hi : 80 vi an 14 ,100 99 99 ! 93! 93 93 ilOO hi 100 100 hi 109 108 109 i 90 90 4 90 : R9 88 88 93 4 93 i 93 i 97 I 97 I 97 104 '104 1104 hi lon 108 1108 loo 100 IOO 93 i 93 i 03 120 IlL'o I-,) 10OH 100 1O0 U 99 4 99 I 99 99 t no 112 ill 2 lo iin 99 S : 99 ' 99 102 112 106 99 galea 1 tin $1000) Let us serve yourneedsin Printing W can put the personal element into your advertisHif F.W.Baltes n. - a FIRST AMD OAK rillllClS BrMdwijtitl Mid Steel crt 5s. Mont Pow 1st Ss. Nw Ecg TAT 1st OaA NT Air B crt 6a NT Dock Co 4a NT Ed Co rf 112 NT Tel gen 4 Hi- do let 6. N .imtr Ed 8 . 16 s86 S 1 171 S1 9 IB 2M Ohio TreAUSt 7jX W Bell Tel ifs. 2 (Otis Steel 8a Si do 7Hs 10 Pac Gaa A 61 ft. ljPae Tel A Tel o. 117 do 5s rets . . . 2 Packard Mot 8s. 10, Pan Am F A T 7s 15;Pntt Co ref . . . 18'Pierce Oil 8s ... 2 Pub Ser of N.J Ss 61P Al a 1 deb T 's 2 Prod A Ref 8a. . 3 Reming 1st Its A 2 Roger B Iron 7s. 5 Sin C Oil hi. . 37 do crt 7 . . . 24 do 7 reta ; 3rSharon Steel H 8s 1 Son i'or Kic Sn is, 113 Bel T 4 T J 'ibUnd GAK1 ct 6s High. I Law. 1 Clo 90 99 99 101 81 hi 95 107 94 7 . 108 , 100 85 94 99 94 ,ii j t AO 101 98 89 110 102 95 95 99 104 100 98 102 hi 99 97 3 O of Cal deb 7s; 1 06 hi Tenn Cop 6s .... 1 1 OO 89. 99 99 101 81 111 95 106 93 98 107 H 100 95 93 99 93 107 101 101 97 hi 89 110 103 94 95 99 103 100 98 89 9 101 81 113 95 3 0 94 97 107 100 95 94 99 94 107 101 101 97 89 110 162 94 95 99 103 100 98 102 102 Tidewater Oil -J, a, To! Edi 1st 7a 3Tob Prod 7s . . 24,1'nBagAPa 6a ctfsi llln Drug 8s 9 1" 8 S Corp 6sef in U a kud I hit. . 2 do 7 55 do 5s I 12 TJ S Steel m t 5a. 10 Utah Pow A L 5s 9 Va-Caxo Chm 6a. j 3 do 6a 38 do 7a ret A. . 12 do7s 21 do crt7 hi sAwar 12:Va I V A Coke 5a War Sug Ref 7a W Pa Pow 6s. . do 7s 1 1 l.yWesthse Elec 7s. 103 8: Winch Arma 7 3 i Wick Spen Stl 7s 6Wiison 1st 6s. . . 27! do crt 6$. . . . 16 do 7s RAILROAD 7 A T A 3 V gen U 2 7f do ert 4b. . . . 4 do adj 4 . . . . 1 Atl A Bmhm 4s. 15 B A O 6s 8 do ref M ... ; do crt 4 s .. 81 do gold 4s 81 do pr In 3 a . 14 do4sPLE-VVd liBdw 7th At c hs 2 Bkln It I rf cr 4 4 do 5s 2; do 7a 25;Bkln Bap Tr 7s tr I co rui . . . . 1 Bkln Un El 1st 5s 1 Buff Roch A P 5sj 4 1 Can Xor 7. . . . 1 do deb 6s. 29 Can Pac 4s. . . . 7iCaro CI A O 5s 2Cent Ry of Bra 7 2Cent of Ga Ry 6i 1 do con 5s. . 15 Cen Pac 1st ref 4a 5 C A O con 5 58 . do crt 5s. . 1 do gen 4 s . 8 do crt 4s. 173 C A O BAA 2d 4a 10 do C "49 177 Chi A Alt rfg Sal 585 do 8 s . . . 1ICBQ 4s 111 diT. 9IC A E I 5s. . . . l!Chi A Erie 1st 5s 61 Chi U West 4s 108 105 99 12 93 109 102 90 103 93 100 hi 100 98 105 98 93 103 102 106 108 102 99 101 06 108 BONDS 93 85 88 Vb 101 91 88 87 95 83 '8 57 62 84 99 97 108 10O 103 108 105 99 112 93 109 102 90 103 93 100 100 98 105 97 93 103 102 106 107 102 99 101 95 104 84 89 102 IIS 112 82 92 91 101 Of 90 103 98 89 90 32 62 50 87 90 84 97 61 IChlndALTlst gn6s101 92 I 85 86 70 101 90 86 87 94 83 78 57 6L 84 46CMAStP crt 4 ti 14 42 78 1 1 6 - 4 1 3 do rfg 4 A . do crt 5sB . . do 4s do deb 4s. . . F 5s '33 N W 7 do g m 4a. . . . do (tamp '87 . . do 5s '29 . 6;Chi- Bya Co 5a. 3 CRIAP gen 4s. 54 do rfg 4s. . . 1, Chi AW Ind 7J102 5! do con 4s.. . .1 77 I 75 68 77 85 67 100 109 90 88 100 82 85 84 3 CCCAStL. g m lCleT Lor A W 5si 1 'Clev She Ln 4 r. si 23Cley In Tr 5-, 1 ColoASo rfg 4 rj a 8'Cuban R It 5s. . 1 do 1st 1-r 7 s 14 Dei A Hud crt os 51 do 5s ! 5 do ref 4s. 41 do 7s j 1 ;D A R G imp os. 60 3 3 44 2 4 6 11 do ref 5s do con 4a Erie 1st c 7s 4s 101 99 07 1 5 9 84 108 98 102 92 109 82 8 78 84 89 102 113 112 81 01 91 101 99 90 103 98 f 89 90 51 52 51 83 90 84 97 67 hi (101 75 68 77 84 67 hi 100 109 90 88 100 82 84 84 02102s 7 I 7 1 99 97 ion 100 103 108 105 99 112 93 109 102 90 103 93 100 100 98 105 97 9 103 102 106 . 108 102 99 101 98 105 92 85 86 70 101 91 86 87 95 83 78 57 62 84 84 89 102 113 112 82 92 91 101 99 90 102 hi 98 89 90 52 52 52 84 90 84 97 57 101 75 68 77 85 67 100 109 90 88 100 82 84 84 do gen do 4a do CTt do B do D li 4s ext, 4 A 108 56 88 53 53 57 liErie Gen Birer 6s!97 2'Gd Trunk of C7sH13 15 do 6s 104 liGr RapklsAI 4s 92 7iGt Nor 5 a ... 104 6lGn B A W deb A 14 4) do B 14 2 Hav El By 5s . . 86 3.VH A M ref 5sA 88 22j do adj inc 5a. . 86 ljOl Cent 6 a ... 101 4 do rfg 4s ... . 91 8! do 4s 94 2 Inter Met 4 s. . 75 58 do ctfs 4 s sta 15 20 do 4 s tr co ctfs 15 139 Int Rap Tr crt 7s 97 225 do ref 5s ... . 74 49 do ref 6sbk ctfs 74 10 do 6s 82 10 IntGrNorSs nts cfs 68 74 do adj 6s 54 2 do 6s A 97 1 Iowa Cent 1st 5s. 80 145 do ref 4s .... 45 6 K City 8ou 5a. . . 92 18 -do 1st 3a . ..." 71 2 Keo A Dee M 6a. 94 5 Lake Sh A M S I 3 a reg ... . 80 9 do deb. 4s '28 95 1 ! do deb 4s '31 . 94 9 LehiVal ofPa coo I 4s 96 II do 6s 103 3:Iong Isl ref 4s.. 84 liLTille Jef Bdg4s 83 1L A N 7s 107 1 do gold 5s ... 106 1 1 do unified 4s . I 93 41 do 5a 101 do 4s KAC di 2 j Lotus A Ark 6s. j 11 do A N W 3s. 45 MsnRy con 4s.. 6Mket StBy con5s Hi do 6s I 2 Minn St L con Sal 51 j do 1st rfg 4a. . 9! do rfg 6s ... . 7 MStPASSM 6 81 do con 4s 23;Mo KnATexlst4s A. do 4s B do 6s A . . 218 do adj 5s 16! do 6s C... 2Mo Pac rfg 6a. 221Mo Pac 5s 1 3 do 6s 32! do gen 54s. So: Nassau El 4s .. 3'Nsh Ch A St I. 1106 I 88 S 94 i 74 72 89 94 80 48 46 105 80 84 71 86 64 97 97 93 102 9 57 SsJlOl 2;NewOTAM inc 5s. 77 7X Y Cent CJf lif107 i ao re 11 . . . . 106 98iNYC A lilt 5s liNT CbAStL db 4s NT N'HAH deb 6si 1 1 do crt 3 1 oiXTNHAHdeb 3s! 1S1N T Rys ref 4sl tr co ctfs. . do adj Ss. . I do ad Ss tr co rfsi 1:N T Bus A West i g B 5s... . . 31 do ref 5s. . . 7S T VTestch Boston 4 a 6i Norfolk a 8 n it KjN A W R B ca 4 si 1 39 1 15 6M 85 El 51H 38 10 9 55 7 T3 do crt 6s....ill7 Nor Pac 6s B. . .109 do pr Ib 4a. . .1 89 Nor Pac gea 8 a) 64 101 09 97 105 89 84 106 98 !102 92 109 82 hi 48 78 108 65 68 53 53 56 97 113 104 92 103 13 14 86 88 88 101 91 98 75 15 15 97 74 74 82 88 54 97 80 42 92 71 94 80 95 94 96 103 103 83 I 84 83 I 83 107 107 106106 93 j 93 108 106 88 I 88 . 94 I 94 74 1 74 72 101 99 97 105 89 84 hi 100 98 102 92 109 82 48 78 107 55 68 53 1 53 58 97 113 104 92 lf3 13 hi 14 86 86 66 101 91 96 75 15 16 97 78 78 82 68 54 97 80 42 92 71 94 80 95 94 98 89 94 8O 44 48 106 80 88 71 86 63 97 97 92 102 68 58 101 T7 106 10S 98, us wo 4 61 61 38 10 9 65 TO . 57 69 93 117 109 89 63 72 89 94 80 44 46 103 80 84 71 86 64 97 97 93 102 63 57 101 77 107 105 a y 68 85 61 61 38 10 9 55 70 57 70 93 117 109 89 68 (frerbeck & Cook Co. BBOIESS maaibsrs Chlcaee Boar of TrwSa, Beard af Traoe BM PerUantf. Peadtetao, Ora,. Walla Walla. STOCKS. BONDS, GRM AND COTTON IJIRXCT PB-JTaTE wxsks Logan & Bryan 3HEW TOBK A-TD CHICAOO LOSSES SHOWN IN MINOR RAILS By Stuart ft. Wast Wall Street. New Tort. Aug. 81. Orer night announcement of the Chicago A Alton receiTemhip was followed by renewed collapse jr 1 .s in Ui bonds and stocks of the company. This brought about a scat tered selling in railway shares, particularly in certain of the low meed nno-diridend pay ers. Th news had little effect oa the market generally be cause it was fully real ized that the Alton was special case, -that it had no significance for the railway situation in the main. No 6knbt, as the accompanying statement in explana tion said, lose of rere nues through the 'Coal and rail strike was an immediate cause of Stuart P. Wast the troubles of the road But this only serred to bring matters to a head. The - outstanding fact that has been known all along, is that Alton's capital account, is exceasire in comparison with earn ing power eren at the beat. Another downward turn in the foreign ex changes suggested clearly enough that the 're covery at the start of the week in francs and marks was doe to the closing in of part of a much extended short position and did not mean any change in the situation itself. The impression that feeling in hanking circles was more hopeful on the subject of German repara tions was nerer warranted or has been de stroyed by developments within the -last day ot two. It was hard to detect any evidence that the European financial situation was a fac tor in our security markets today. Borne rather notable losses occurred in a few of the minor rails obviously an effect of the Alton incident. Rubber and tire stocks for specific trade reasons, long understood, were . offered down and realizing sales made themselves felt in some of the telephone and gaa stocks which have recently had such a remarkable rise. On the other hand, fresh baying came into the oil stocks, into American Wool, CruciBle Steel and a variety of pool specialties. These upward mores were numerous enough to take away any appearance of reaction from the general list. A sharp break in Chicago Great Western issues came in for attention, as it followed so closely upon the Alton episde. There ia no re semblance between the two rosds in the es sential details' of holders of long defaulted bonds threatening to bring things to a crista. But it is a fact that the Great Western did not earn fixed charges last year, and for the first seven months of 1922, as shown by the July report out today, operating income fell nearly $400,000 beiow thai for the same period in 1921. Mexican Petroleum had one of its character istic jumps in the afternoon trading for no other reason than that the speculative element was looking for new leaders and it was the turn of the Mexican oils. Coal shares were strong, anticipating formal word that the anthracite strike had been set tled. Baldwin Locomotive, American Loco motive and others of the railway equipments were actively bought in the final hour at new high prices for the year. WALL STREET STOCK QUOTATIONS Heperted by Overbeck A Cooke Co. ""' State Bank Assets Reduced by Alaska Loan, Says Report Salem, Aug. 31. The State Bank of Port land cannot hope - to realize more than 10 cents on the dollar of its $63000 loan to the Peterburg Lumber company of Peter burs. Alaska, according to a report made to John P. Beisacher, deputy superintendent of banks, in charge of the defunct Portland banking institution, by Frank C. B ram we 11, state su perintendent of banks, upon his return to Sa lem from his trip to Alaska Tuesday night. The property of the lumber mill is in ja very dilapidated condition and while the ma chinery ia reasonably wrll preserved it is of an obsolete type and would have to be sacri ficed if any attempt were made to dispose of it at this time. Bramwell points out. The only chance to Kalrage a greater amount of the big loan, according to Bramwell. would be in finding some one to finance the mill and place it in operation, which will be at tempted. The plant has not been operated for the last three years. GBEAT yORTHEBIf MOTlIfO MORE CARS JESFITE STRIKE Wenatchee, Wash., Aug. SI.1 The daily traffic report of A. L. Bergfcld, superintendent in charge of transportation of the Great Northern railway, shows that in spite of the strike the line is moving more cars than last year. It siicws a slight falling 01'f in traffic on the Spokane division. According to this trsffic sheet, the grand total of cars loaded on the line nd received from connections during the mouth ending August 24, 1922, was 65,678: the total for the month ending August J 4 , 1921. was 62, 511, showing an increase of 3187. or 5 per cent in favor of 1922. The total of cars loaded by the Greet Northern from July 24 to August 24. 1922, was 69,319; and the to tal loaded last year during the same period was 54.718. On the Spokane division 8279 cars were loaded on the line and received from connec tions during the month ending August 24, 1922, and 3524 were moved during the same period in 1921, showing a decrease of 6 per cent. I'nder the heading of '"other products," in which fruit is included, the report shows the total cars loaded on the lines and- receired from connections during the month in 1922 as 14,826, and for the same period last year as 14,840. Bakery Changes Hands Eugene, Aug. 31. E. W. Boyd of Eugene and F. S. Helliker of Bakersfield, Cal., hare purchased the Dunn bakery from F. E. Price. Sales. I (In $1000) (High. ! Low. 99 noo 84 83 75 103 99 110 94 100 45 do ref A imp 5 si 10 Or A Cal 1st 5s iejO-W R R N 4sj 4: Pac Coast 1st 5 s 143P L M RR 6s ctfs 21,Pa E a 5s ... 14: do con 4 s 491 do gold 6 hi s 4 i do g m 4 s . STPere Marqu rfg 6s 13 Pere ilarq, 4s... I 85 4!Phili Ry 4s i 62 1PCC A StL 6s Al 00 7:P SLAP 7sl7 6; Reading gen s..l 86 3(R G A W col -r 4sf 70 ljSt- L I MAS X 4sl 32 doSRA Ga dv 4sj 1 StLASF pr ln 4sA 19 do asH 6! do gen 6sC . . . 23 do adj 6a 621 do inc 6s ... . 2! do gen 5 al) . lOIStLASW eon 4s. 3 do term 6. . . 8;StP AKC Short t Line 4 his 3 San AntAAPlst4s 1 & A aid sta 4s do Tig 4s . . . do adj 5s. . . do con 6s . . . lH3oa Pac cvt 4s. do rfg 4s. . . Sou Ry gen 4s. do cent 6s . . . do 6s (Third Av rfg 4s. do ad 5s . . . TerAsnSt L rfg 4j (In Pac 1st 4s- . . do cvt 4a do ref 4s . . . . ItTTRR of'BVIa 4s. ll'RB of In CoSFOsl ilva. By A Pow TJS. iVe -By 6s iWar B R 8 a.-. Wabash 1st 5s... Wash Ter 9.. West Md 4 IWash OhAWeat 4&1 WJiTAPa gen s. West Pac as. . . . fWest Shore 4s. . . 21W A 1 E ret 4 sj 7fWteCSop Pol 4s! 51 34 77 31 86 8 23 84 81 1 1 1 " 2 t2 3 6 6 3 1 4 1 1 20 90 8i 74 88 looa, 84 78 95 81 83 84 77 60 43 SO 69 93 91 99 .1108 67 67 82 94 93 89 62 90 88 98 78 9 68 8 97 79 . 87 86 71 83 STANHARI OIL ISSCES 99 100 83 83 73 102 98 110 93 1O0 4 62 100 107 86 70 90 86 74 88 100 83 77 93 79 83 84 77 60 43 27 67 98 90 71 99 103 66 67 82 94 95 89 62 rt 82 98 78 99 88 68 97 79 87 8 71 i 83 Oil TOOiAngle Asa 2110 : Atl Loboa 1 . . . 140;lmp Oil of Can 60 Ind P L . : . . . 2300' Internal P Co Ltdi 4 loiPrairia P L . lOiSoa W Pa R 24-Sou r It tiiS o irt" 386019 O Ky 1 . 14013 O J T 2 10 114 97 22 261 64 96 114 ...1106 20 10 113 97. 22 261 . 4 96 f Bid. 99 100 83 83 74 103 99 110 93 IOO 85 52 100 107 86 70 90 87 74 88 lO0 84 77 95 79 88 84 77 60 45 28 68 9ST4 90 H 103 6 67 82 94 96 89 62 90 83 98 78 99 68 68 97 79 87 86 71 83 20 19 its . 97 : 22 261 64 86 Saw York, 1U (TJ. F.) Stock were frregmlar la the morning- trading;, re flee tin gr th adraaee informatloa that the federal trad coramissloa would oppose the proposed eonsoildatloa ot the steel ladastrr. After the srillna; in the steel ffroap had been absorbed, the whole market ttreBfthened. Mexican Fetroleara cored a cpectaealar 19 point rise and many specialties attained sew, highs for the year. !T ' Strength In the eqoipment stocks In creased with the annoancement ef aa order by the PeaasjrlTaala for 199 locomotives. Sales. 1 STOCK- High. 1200 500 6800 1300 I. 1500, Adams Expreaa , 200 Advance Rum .. .... Agr Chem .... I do pfd .... jAjax Rubber . . . . . . .lAlaska Juneau .. 400Allied Chem ... .... ; Aliis-Chs liners . . I do pfd .... I Am Beet Suga' . .... Am Bosch .... jAm Car. Co ... lOOjAm Car A Fdry .... I do pfd 30OAm Cot Oil .. . . 2O0) do ifd 30UAm Drug Synd. . 100; Am Hide A L .. do pfd Am Ice Am Intl Corp .. Am Linseed .... do pfd Am Loco do pfd Am Saf Razor . . 1000 1 Am Ship A Com 600 1 Am Smelter .... j do pfd 1200( Am Steel Fdry.. 100(Am Sugar do pid SOOiAm Sumatra. . . l0601Am Tel A Tel. 400Am Tobacco... 33001 do "B" 9200 Am Wool I do pfd .... do P pfd lOOjAm Zinc 2700 Anaconda 300Aas'd Oil 2100Atchison 100 do pfd . . . 85001AU Gulf A W 164 00, Baldwin Loco . . . I do pfd 2400iBalto A Ohio I do pfd SBOOiBeth Steel "B". . 700B R T 200, Butte A Sup 700Caddo Oil D00;Cal Packing lOOOjCal Pet 11 100 1 Canadian Pac ... 1000Cen Leather . . . . lOOtCerro de Pasco. . . 1700Chandler Motor . . lOOOjChgo A N V. . . eeoojchigo Gt w 6700 do pfd 1300Chin Cot 400,Chino Stt00O it St P 500 do pfd. 2600jCocd Cola 1200)0 A C Colo Fuel A Iron . lOOjColo Southern . . . 2000Col GS A Coke. . lOOlColumbia Graph.. 9300Con Gas SOOjCons Cigars 800 1 do pfd jCont'l Can jCity Bar Banker. . 1700Corn Prod 780Cosden Oil 3700C KliP 2001 do "A" pfd . . 100 do "B" pfd. . . 124 00 Crucible 600 j do pfd 500)Cuba Cane 700 1 do pfd 600Cuban Am Sii . . . 300Del A Hud OOOiDome Mines . . . 500 D L A W 300Davison Chem . , . 1600Endicott Johnson. 200Erie 2200 do 1st pfd . . . 800;Elec Stor Battery . 7400!Famous Players... ..... Fed Mng A Smelt 1001 do pfd 3500Fuk Tiv 1200Gen Cigars lOOjGen Elec 4 800 jGen Motor 300 do 6 500 79 -0 41 "0 12 1 87 57 61 187 '27 54 6 13 117 57 128 " 7 ' 18 65 '42 83 Low. 78 20 40 70 11 1 85 67 60 187 '27' 54 6 13 ii6 86 121 . . . . . 16 64 '42 ' 83 Bid. 88l 37 128 125 -1168 164 96 17 55 118 104 94 82 129 69 79 30 10 81 06 25 25 9ll Ll Q aft IX 151 149 41 39 61 92 8i 28 31 84 53 71 76 '48 105 3 139 87 75 87 1300 82 41 95 85 35 I 81 19 Gen Asphalf Goodrich Glidden Paint . . aOOiGranby 1200Gt Nor Ore 8900iGrt Nor pfd Greene Cananea. . Gulf S Steel 100OGlen A Wen .... 1700; Houston Oil 300 Hupp Motor . . . . Ills Cent 500 Inspiration Interboro . . . . . do pfd 300 Inter Callahan . . 100 Int Harvester . 500 Int Mer Marine. . 1700 do pfd 900 Int Nickel 2600 Int Paper de pfd 81 8O0 Invincible Oil ... 2600 Island Oil 1000 Jewel Tea 600 K C ' Southern .. . I do vfd 2000:Kelly-8pgfld ... 43 3400;Eennecott j 37 411(1 Kavstone Tire .. 8 2000 Lack Steel ....i 79 KnnilMt Tire I 26 2700'Lehigh Valley . , 70 200LcrUlard 1174 HOOiLowe Theaters .. 20 500 L A N 139 38O0;Lima Loco I 65 900 -'00 9700 100 5200 5900! 600 1700 119 48 46 T 86 95 98 14 88 26 128 39 184 42 88 17 27 47 99 79 20 41 . 70 11 1 86 67 100 47 39 61 tI87 103 27 64 6 13 72 116 86 34 62 123 120 7 16 64 101 42 83 . .1110 38 127 160 163 93 107 30 17 54 116 104 94 82 129 113 68 65 hi 78 25 80 10 81 65 151 i. 41 39 60 91 7 17 23 30 83 62 70 76 81 48 104 3 136 87 75 85 I 19 118 11S 47 48. 45 103 160 94 i7 54 117 104 94 80 127 58 77 30 10 80 Us 41 39 60 91 7 16 y 22 31 33 62 69 76 '48 104 3 136 37 Z5 84 97 93 98 14 hi 88 25 hi 128 88 134 51 87 17 26 48 96 53 I 53 12f 11 80 79 10 180 13 13 84 69 35 84 67 84 8 110 15 60 18 57 'is 17 25 17 00! Mont 300 Mont Maxwell "B" May Stores . . Mex Pet Miami Mid States Oil Mid vale Steel . M K A T .. do pfd Power . . Ward . . lOOOiMo Pa 400 do pfd 3200Mex Seaboard . . 2700Marland Oil ... SOOjNat Biscuit .... KOOiNat Lead INev Con 1800 New Haven . . . . 1200NoTfolk AW... 4100Nor Psc . . . . INora Scotia Steel Pet. . 1O0IN Y Air Bse 200IN T Central . (North Am .. 1800'Okla Prod ref. lOO'Ontario Silrer . eOOiOntario AW.. 2000j Pacific Dev . . 900 1 Pac Gas A Elec liOOPunta A leg re . 1160OJ Pacific Oil 24100Pan Amn 1010O! do B 7000!Penna OOOfPeo Gas ...... SOOiPere Marquette . 1600Pure Oil 15O0 .Phillips Pete .. 200Pierc Arrow . . 5 OO I Pierce Oil 1220O Pitta Goal 38rtO Pitta A West V BOOiPeaa Seaboard .. it nft :tti ..n ftti Car. I 1I1IMM1. ....(130 XOT 80 83 70 19 130 197 29 13 35 19 48 78 23 23 60 22 40 58 109 83 118 89 76 99 9 2 6 27 4 84 50 58 84 80 47 94 39 82 49 11 7 70 39 87 81 41 94 '83 55 79 18 '41 45 96 85 94 98 14 38 hi 25 1128 39 (131 87 17H 26 47 98 12 hi 53 11 80 180 13 84 88 34 14 31 41 94 32 84 55 80 18 110 41 1 4 8 109 14 59 17 57 85 14 H 16 25 57 42 38 8 78 26 69 174 20 138 64 18 130 198 29 13 84 18 48 75 22 23 59 21 40 58 107107 17 8 110 13 59 17 57 14 16 25 V. '42 36 8 77 26 69 (174 20 138 63 18 130 184 29 13 34 18 47 75 22 23 G9 21 39 58 32 117 88 S. 113. 113 f is II on 1500 Ray Cons 6 000! Reading . . . HOOjReplogle Steel 60OO, Republic 1 A do pfd 200 (Rep Motors T 6001 Royal Dotch Oil. By Bteel Spg . . 2000 S O E . -.... 200 Sean Roebuck . . IShattock. Aria . 12900; Sinclair 70O'Stand Oil Jnd 3001 do N. J. . . . - - 400;Sloas Sbef 70iSo Pac SlOOtSs Ry 63018 O Cal ........ 700)St L A 8 F ... 2ee Strocber Carb .. eOOOiStndebaker ...... ... . 4Swift A Ca .. . . . 400 Tea Cop A Chem. laOOlTexas Oil 700-Texes Pac ....... . 4700iTex Pac C A X. 780 Tob Products ... B90jTrens Cemtl OH.. ' SOOiCasm Oil DeU... . 36Mrnion Pac ... -; . . -ICnited Alloy w lOOimrtnd Irug ... Of) Cnited Pood Prod., : 20o!rited Fmit 76 98 92 2 6 -88 49 57 79 76 46 94 39 82 49 11 7 69 aa4 7l 7 86 128 16 79 82 68 8 67 116 106 80 i 88 114 184 61 94 7 111 80 64 128 10 49 - ; 88 i 26 I 67 14 19 162 - T9 - 168 8 56 116 108 90 83 113 183 61 93 27 UlH 80 58 127 10 48 82 25 67 14 19 169 1S8 83 117 89 36 78 98 96 2 6 26 4 82 49 57 83 79 46 93 89 82 49 11 7 69 89 i 7 84 180 16 79 82 69 93 3 66 116 105 90 8 I 83 114 188 80 98 27 111 SO 58 128 105 19 48 82 26t ! 87 14 18 152 88 79 18 Sales, t STOCKS : 2200IU S Ind AlcofaoL . ( High. Low. Bid. 4100 100! "250 10O 600 200Va Chem 2700! 6200 100 1800 ' '800 200 1200i 1200 8400 800: 800 400 100 " "200 400 J800 S Rub do 1st pfd . . V S Smelting. . , C S Steel do pfd Utah Copper . . . Steel Vanadium vivandou Wabash do A pfd do B pfd West Pac do pfd "West Union . . . , Westhse BAM. West Md White Motors . . , rWntys-Overland . do pfd Wilson Pkg Wis Central Woohrorth .... Worth Pump . . White Oil ..... White Eagle Oil. . Orphenm ...... 63 65 65 68 66 66 104, lft4 104 .......... 48 104 108 104 121 121 121 9 69 69 29 29 29 62 52 52 12 11 12 18 12 12 84 33 83 23 20 20 20 62 62 62 119 118 118 63 63 68 16 48 48 48 7 . 6 89 43 48 43 81 28 29 182 182 182 43 8 8 8 27 27 27 23 22 22 Total sales, stocks. 908.400 shar Total sales, bonds.- $10,960,000. NEW INCORPORATIONS Salem. Or., Aug. 81. The Brown-McGregor Investment company of Portland, capi talized at $10,000, filed articles of incorpora tion with the state corporation department here, Wednesday. The incorporators are Walter S. Brown, John 1. McGregor and William C. Murphy- Other corporations filing articles were: Derrick Lumber company. Portland; $1000; C. B. Adams. A. C. Wheeler and G. S. Shepherd. Echo Trading company. Echo, $10,000 Fred S. Ashley, D. Hinterman. W. C. Hinterman and Minnie BOSTOX Reported by COPPER Overbeck A 9 SO 83 5 25 2 14 60 Ariz Com Adrntre Ahmeek Algomah Allones Arcadian Bnm Us OlAArs ClAHe 296 Centennil 9 CopRge 43 DaviiDly 7 E Butte 10 Hancock 2 Kerr IA 8 Lake Cap- 4 La Salle 1 Michigan 3 Mass Con 2 Mohawk 62 MayOColy 4 9l 100 j Man Tel. 64 N Butte. 20 26 3 14 61 298 . 10 43 7 10 2 4 4 1 3 3 I 63 Shan 4l N'ipissing ljtSe. Old I) Cp Obijgwa . Qunc Mg Pdn Crk. S Ike. Sup Bos . V SoMch do pfd Shattuck Tculmne I t Met. I'th Cn, Tictoria. STOCKS Cooke Co. Bid. . Bid. 1 12 5 40 24 hi 2 43 21 48 1 40 26 8 69 1 2 3" ' 1 83 Ask. I Ask. 2 14 6 50 25 5 44 2 47 ' 1 40 27 9 73 1 2 3" s . 95 Bond Issue Arranged The United Meat company today placed in trust with the Title A Trust company a deed to its plant and etgulpment at Co lumbia boulevard and Vancouver avenue, aa security for an issue of $7-3.000 ln 8 per cent cumulative participating preferred stock, to be offered to investors. The proceeds of the issue will be used for the development and enlargement of the plant to meet an increasing demsn dfor the company's prod ucts, according to A. A. Hallander. presi dent and general manager. The Title A Trust company is trustee of the issue. A great Fall bond market which means advancing and lower interest generally expected the greatest invest market for many is near at hand. It fact, already .under prices rates, to be ment years, is, in way. We urge investors to make their purchases now and an ticipate their future invest ment requirements using our Partial Payment Plan for holding bonds firm until ready to complete payment. CALIFORNIA State 4a, to yield 4.16. $5000 July 2. 1985 96.66. PORT OF ASTORIA Bs to yield S.26. $2000 January 1. 196198 33. CONDON WATER 6s. to yield 6.40 .. $3000 August 1, 1942 107.28. KLAMATH FALLS Imp. 6s, to yield 6 'i fe to est. date and 6 there after. $ 1.500 est. July 1, 1926 101.75 3.500 " " . 1929(3102.85 10.000 " " 1932 103.80 ARROYO GRANDE, Cat., Imp. 7s, to yleM $1702 July 2. 1924101.78 1202 " 1925 102.71 1500 " 19260103. SI 1702 " 1931 106.88 CASPER. Wyo., Imp. 6s. to yield 64. $4000 est. Sept. 1, 1929 100 5000 ," 1930 100 DIXON, Ca4.. Imp. 7s to yield $2000 July2. 1923 100.80 MOSCOW, Idaho, Imp. 6s, to yield $600 Sept. 1, 1924 100 NEWMAN, Cal., Imp. 7s, to yield $102 Julv 2, 1932107.44 102 " 1933 107.97 WALNUT CREEK, Cal., Imp. 7s, to vlelrf 6a. 123 C IUU.H1S 1924 101.78 1925C 102.71 1926 (S 103 51 1027 104.27 1 928 ( 104.98 1932 107.44 Imp. 7s. to yield Public .Utilities Reports. Show Gain In July Earnings Net earnings of the Portland Gaa A Coke company for July show an increase of 10 per cent compared with July of last year, accord ing to a statement just issued by the company. For the 1 2 months period ending wifh July, compared with the previous year." the increase in net earnings amounted to 5 per cent. The Cgurea for July were as follows: 1922 1921 Increase uross ..265.997 260,461 6536 Oper. ..179.604 182.183 2580 Net 86.892 78,275 8117 Bal 49.667 40.730 8837 For the 12-montha period ending July 1922 1921 Increase Per cent Gross .3.318.248 8,371.418 44.833 14 Oper .2.316.022 2,822.877 6.854 Net .. .1,000.224 949.038 61.188 5 BaL... 558.522 530,566 22.966 6 The Juiy statement of the Pacific Power A Light company showed an increase of 6 per cent in net earnings compared with July of last year. For the 12-montha period ending July, net earnings showed an increase of 4 per cent over the previous year. The figures for July were as follows: 1922 1921 Increase Gross .251.239 235,281 15.958 Oper. .141,076 131.476 9.600 Net .. .110,182 103.803 6.357 BaL... 60,817. 64.039 6.778 For the 12-months period ending July: Per Cent 2 1 ' 10 22 Per cent 7 7 Gross Oper Net . BaL. 1922 .2,941.947 .1,620,876 . .1,821.671 . 677.360 1921 2.763.813 1,491.029 1.272,284 719,683 Increase Per cent 178.634 129.347 49.287 a o oo 'Decrease. BASK Clearings Monday . $ Balances Monday. . ' Clearings Tuesday. Balances Tuesday . Clearings Wed . . . Balances Wed. . .. Clearings Tuur . . Balances Thar. . . STATEMENT OF Portland Banks 1922. 5,661.420 $ 1.500,982 4,527.684 1.209.470 4.995,208 1.284.213 4.264.477 752.852 COAST 1921. 4.913,882 1.164,273 4.086.604 728.279 4,855,800 1.275.690 4.266,688 870.773 Clearings Balance Clea rings le Banks Thursday $ Thursday Oakland Banks rings Thursday Lee Angeles Banks 4.599.205 984.966 $ 2,664.900 Thursday San Fmnclsoe Thursday Tecoma Banks Clearings Thursday . . dealings Clearings Banks .$17,409,106 s .$29,500,000 ,185.000 Foreign Exchange Market New York. Aug. 31. (TJ. P.) Foreign exchange opened easier. Sterling, $4.46 off hi: franca, .0761. off 11: lire. .0435. off 6: marks. .0008, off 1 c. Valuation Hearing- Set Walla Walla, Wash., Aug. 81. The Walla Walla county board of equalization, which in cludes the city and county commissioner!, has passed a resolution authorizing an investiga tion and hearing on the assessed valuation of the Pacific Power A Light company in Walla Walla county. This is the result of a fight between the city snd county commissioners and the power and" light company' for lower retss. Tha present rate hers is 12 cents par kilowatt hoar. . .'" MASTFACTTjRED frodtjcts FBICES BEGINNING TO RISE New Tork. Aug. 31 Indications ef price advances in many manufactured products are beginning to maka their appearance in the markets here. These trends upward are based n a large degree on higher production costs caused by fuel shortage, increased coal coats and advances In wages. SyirTwLr hM seed in the neigh omood of 10 per cent and sales are of fair proportions. Demand for fall and winter un dergarments ia brisk with buyers pressing for Conrt Salem. Ang. T'pholds Contract 31. The validity of 4k i tract entered iato by a producer vith epemrra marketing sascolattoo wsa ttpfcek" circuit Judge Kelly in a decree banded c at Albany Tuesday tn the eaaa ef gon w rowers Ceopentivw aasoctatio . n irene 01 Albany. Tha growers' r eiation wrta headquarters here had btw suit against Bircbet, alleging that be f failed to live up to the terms 'off contrarA by selling his prunes til rough ef, channels, asking for damages and aa ct! restraining him from selling eisewhare the future. Judge Kelly's decree asset damages against Brichet ln the sum ef $ ."- rvqiuzwa was no aeuwer au prunes to the association in tna futusa. WOMAIT LOSES PLACE Eugene. Aug. 31. George Priori Eugene has been appointed rural rter on mail route No. 1 out of Eui succeeding Mrs. Henry Haneka.fi who replaced a World war vetesT about a year ago. The American gion post here protested the forr change. " . Two Tax Exempt General Obligation Issues HARRISON, IDAHO i 6 Electric Light Bonds Bated J0I7 1, 1911 Optional Jfuly lSim Doe July 1, 141 X Denomination $569 PRICE PAR 6 Water PaledJaiiaary l7SS6 . -Ojrttrial Jaaaary 1, 1M Dae Jaaaary 1. 1940 Denomination $&99 TO YIELD (January 6 and July) payable Principal and semi-annual Interest at Harrison, Idaho, at the Chase National Bank. Xew York City or at the quarters of Morris Brothers Corporation, Portland. Or! FINANCIAL STATEMENT Assessed valuation of city 213,368 00 Actual value 600,000.00. Bonded debt $46,000 Less Water bonds 36,000 Klectrlc light bonds..' 10,000 NET DEBT Nothing These bonds are issued for the Improvement of the Electric Lighting System and the extension of the present Water System. Both issues are self-supporting through revenues. Harrison. Idaho, is a thriving Httlo city of 1200 people in a farming and lumbering aeo- uon. n is lucairo on j. kb uoeur a Aiene ana tne O-W K. & J and acts aa a point ot shipping transfer. LEGAL INVESTMENTS FOR BANKS TRUST FUNDS AND ESTATES. LEGALITY APPROVED BY BURCHAM & BLAIR. SPOKANE, WASH. Telephone or Telegraph Orders at Oar Expense. line 10KRIS BROTHERS CORPORfflON Government and Municipal Bonds roruana.uregon jgrfcs MORRIS BUILDING BROADWAY 2151 July Cal.. 1921 101.78, to 1928 103.51. 1930 105.63, $ 169 1 169 1 IOO -13G9 3HS 1869 100 StEEDLEV e to e.20 . 16000 July 2 yield 6. S945 July 2. yield 6 . $945 July 2. yield 6.10 3- $2500 July 2 yield 6.20',. CENTRAL COAL A COKE CO. 6s, to yield 6 ' . 1000 June 1, 2O00 sooo 850O BOO LOetN Man. Irr. Ceto.) to TKa ov,-,. $20OO June 1. 1925 99. S3 paTTEBSOM, Cal.. Imp. 7s. to v4. (386 Jaly 2, 1828 9 103.71 tUSAHVILLE. Cal.. Imp. 7s. to $3000 July 2, AMALGAMATED yield 7. $1500 April 1 holly auaan .. to ytaM 7. $7500 July 1 1932 9105.90, to 1026 99.16 192RIS9S.80 1930 0098.47 193597.82 193897.51 DIsC (Loean-Co., yield yMd 1934 910A.Z4 8UOAR OO. 7s, . 19ST9100 CORPORATION Ts, 1937 10O VIROINI A. CAROLINA CHEMICAL OO. 7Vs, to ylaM 7.78. $800 July 1. 1937 998 Make Reservations Now 'Use Our Partial Payment Plan FREEMAN, SMITH Q Camp Co JtWaWsRMEM BIDS. POUtXJOtm - JJ -"w " I II . .iSS"".. -i - We hear many admissions from investors that, they do not fully understand the messages of a bal' ance sheet. Our book "How to Understand a Bal' anee Sheet"' was prepared to explain clearly how to make this analysis and the effort has received commendation from bankers, investment houses and business men in all sections of the coijntry and the book is now used asa text in several colleges and universities. ' Ij it of value to you? We shall be pleased to send it without charge or obligation upon receipt of your Name. 1 Address- I Cyrus IiRceCompany 1002 Wilcox Bldg'PORTLAND 'TeLBroadway 5915 INVESTMENT SECURITIES? ' V ' ." SAN FRANCISCO SEATTLE;, ' LOS ANGELES r- ; i a i 600iCS Caat Irew Ftpe4 3 84l 84 10. Vacuum Oil ... f4' 466 (468 ltloOjUai Retail Btena.4 .79 i 77 79 4 n 441