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

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

Image provided by: University of Oregon Libraries; Eugene, OR

About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Sept. 21, 1922)

Prev Page of 22 Next Prev Issue Next Text PDF JP2 (5.4 MB) Clip/Print Image

Return to Top

Prev Page of 22 Next Prev Issue Next

Newspaper Page TextBy Stuart l. Wert Wall Street. New Tork. Sept. 2U The trustworthy index to financial sentiment and the Fnrcmein situation today visa not the vry n y-jy ' "" confused movement on 5'yfil the stock echange bnt 'J 'Pl rsther the course of the V.-.?S foreign exchanges. 8or-,"J-- .linf and marts wee SNSbotlt lugner. inno a trifle lower, bnt the main point was that the fluctuations should t--4 Lave steadied down on m level quits as high a ai'l the Turxu-n qiu had entered the mar . V-i.1 nitriition. was prettJ v '5 convincing proof that no grvat alarm was teiv :n International bank ing circles regarding the rjutefme of the trouble. In the ftock market Ibices' tarted in higrir. but after the first half hour the dealing were to a aeries of tests conducted by profes- lionaX operators as to the vulnerability of the hare Ut- Sailing Movement 8hown Tbe idea of these specula tire quarters was tiiat. quite apart from the outside news, the market in August had a rather active and con . tinuwus advance, that expectations of the move ment carrying further through September had been disappointing and the speculative following was waiting for s cliance to sell instead of be ing anxious to buy. This, of course, was a purely technical view of the market of the day. But it offered a more satisfying ex planation than any developments in the outside situation. The investment market greeted the upholding of the soldier bonus veto with an ther. advance in the Liberty Rrrm but this action had been too well anticipated to have much effect. Oil Advance Factor An advance in gasoline and kerosene prices m the eastern districts attracted attention in connection with the spectacular upturns' in Standard Oil tafcues. " Rrjt -the peaT reason for these performances in this section of the market was that capital readjustments are believed to be in store for tome of these companies, which will have the result of large extra stock dividends and at the same time bring market quotations more within the range of the ordinary trader. -.- In the search for excuses for the selling movement, acme point was made of the ad "vanee in call money to 8 V per cent, the high est touched in nearly two months. This came uca top of Wednesdays evidence that the time loan market was not aa easy as it had been. But beond calling attention to the effect of the .seasonal demand for money to move the crops, the incident waa of no real importance. The best criterion for the autumn money mar ket is the status of federal reserve discounts. Were there any pressure for funds to take care of interior bank withdrawals it would show in a general recourse on' the part of member banks to rediscount facilities of the federal reserve institution. In the latest federal bank state Bants, however, there is absolutely no indica tion of such a movement under way.- NEW YORK BOND TRANSACTIONS Reported by Toe Journal's Wall Street Bores. By Geortre T. Hag- Wall Street. Hew Tork, Sept. ft Baring by tinrsite compaales hiefa grate ho ad a, beta listed ana aa listed, was the featare f today's bond market. quality was Insisted ea. Only securities a boat the ratine; of which tbere eoald be n-o question were la de mand. Public atlUtj first mortsragre were In especial favor, bonds of the grade of Slag-ara TGalls Power first Is of 132 and .Detroit Edlsoa first Ss of 19SS being; representative of tbe class. This sort of baylag Is aot aeeessarlly reflected la notations en tbe tape. Among; tbe Indastrlals Distillers' he rarities Ss Jamped fiTe points to . Coming; oa tbe rapid advance of yester day this was taken to mean farther and favorable progress In tbe reorgan ization plans. Both Chile Copper issues made new highs in response to the speculative movement In the stock. Mid vale Steel is were also ap a point, and "Wilson Co. convertible s made another new high. Of the listed public utilities, Sorth American Edison Ss and Market Street railway is were In demand. Invincible Oil 8s and Magma Copper convertible Js, however, were reactionary. Trading in tbe second grade and speculative rails was only moderate. Erie and Sew Haven is sues were lower. B. O. Refunding s were higher. Cleveland. Cincinnati, Cbicago St. Louis 6s and Atchison Adj. 4s also were higher. NEW YOttA BONDS New Tork, Sejjt. 21. 1'oliov.ing li an of ficial list of all bond, -aded in on he New York Stock Exchange today with pneos and sales up to and including th close of the mar ket. Total sales today were 18.2 14.000. tgaint $11,202,000 yesterday. S14.6S1.000 a wees ago. $15,388,000 a year ago. and $16,288,000 two years -go From January 1 n date $3,186,972,000 against $2.231,412,OOJ a year wo. and $2,088,003,000 two j.ira aso. LIBERT BONDS ( In $1004. ) - Sales, j ll th. I Low. Close. NEW INCORPORATIONS ; Salem. Or.. Sept. 21. The Vacuum Equip ment company of Portland, capitalized at (100,000, filed articles of incorporation with the state corporation department here Wednes day. . The incorporators are Thomas L. Daven port, A. St. McHenry and G. F. Alexander. Articles of incorporation were also filed Wednesday by Durham A Bates of Portland, capitalized at $10,000. c;. H. Durham, D. H. Bates and John H. White are the incorporat ors. Permission to operate in Oregon has been ranted to the Ryer Grain company, a Wasb ington corporation, capitalized at $50,000, T. E. Byer of Portland, general manager for Oregon, and the Liquid Carbonic Company of America, an Illinois corporation, capitalised at $10,000, J. C. Fulton of Portland, attorney in fact. 665 , Liberty 3 hk s . 5 ' do 1 st 4 s . . 13! do 2d 4s . . . 5, do L'd 4s reg 3411 do 1st 4 4s . &03! do 2d 4'ii', 51 do 2d 4 4 s 654i do 3d 4 hk s . A, do 3d 4s 152P do 4th 4 Vis 14i do 4th 4 'is 152 Victory 4 i . 2 : do 4 s reg 282! do 4 s . . . 1 6j do 4 4 s reg 1014010l32jl0132 luc70 10O70, 10070 ll0012l0010il0010 , 8!0: 9990, 9990 110076il006010060 . . . lOO26jlOO1210Olti ot . 1 10U02; 10002 j 10002 . . . 1 10040! 10024 1 10024 rg.10Ol 1001 0 10010 . jltO0'1005;10062 -Cg.i000i 100501 10050 . .,10.74 10070110070 . . iloOSJiflOOSSIlOOSS . H0u32il0028jl0030 . .ilO.i28!l0O24ilOO24 FOKKIUN BUNDS 5s. 7 (Argentine 37 j do 7 20:Beltium 71 9 1 do 8s 6; do 6s .... 1 Bergen 8s . . 2 Beme 8s ... 6 Bordeaux 6s . 23iCWpenhagen iMi 2;Luristiania 3s 12'Lyons 6s . . 2 3 .Marseilles 6s 82 102 Vs 105 104 99 110 Vs 114 80 92 y, 109 82 Vi 81 93 102 82 V 101 101 79 Vi 102 4-114 89 109 Vs 92 Vs 102 99 99 100 LUMBER MARKET One hundred and twenty-two mills reporting t West Coast Lumbermen's association for. the week ending September -1 6. manufactured 89. 374,092 feet of lumber; sold 70.S38.097 f eet ana snrppea yo,at4A.iH feet. i Production for reporting mills was 8 per ! cent above normaL New husineu i - n, I below production. Shipments were 8 per -cent above new business. Thirty-nine per cent of all new business taken during the week was for future water delivery. This amounted to 27,278.097 feet, of which 18,689.302 feet waa for domestic cargo delivery, and 8.588.705 feet for over sea shipment. New business for delivery by rail amounted to 1452 can. Thirty-eight per cent of the week's lumber jIm.?1V.mOT'd b wtr T1i! amounted to 29,203.196 feet of which 21,553.592 feet ffioved coastwise and inter-coastal; and 7.651 -604 feet export. Rail thinm.nt, amu., .'- Unfilled, domestic cargo order total 1 05 -of'4 t-'nfUled export orders 63,245, 28 feet. Cnfilled rail trade orders, 6853 -era,-. : . .'5 T weeks production has been 3.007. 209 - 4 feet; new business 2.961.634,084 feef alJpmentt 2,928.630.588 feet. Money and Exchange New Tork. Sept. 21. ( L N. SL1 r.11 ; mosey oa the floor of ths New York stock ; exchange today ruled at 4 V per, cent; hich. per cent; low, 4 Vi per cent Time money was firm. Rates were 4 H 4 ,tr cent. The market for prime mercantile paper i waa quiet. Call money in Iindon tcdsy w- 12 Vf cent. Sterling exchug- was JUxrtv with business in bankers' billa nt 442 -a for : demand. 2 Montevideo 7s . 11 Porto Alegre 8s 1 2iPrazlld 7 V4 s 2 li; Rio de Janeiro 8s 20 do 8c ctfs . . 7Saissons 6s . . . 8l8ao Paulo 8s. 2 'Zurich Ss . . . 31!Se:ne 7 temp ctfs 3 Danish Mun 8sA 4 ' Dominican 5 Vs s. 41,i'an 5Hs notes., j Si do 5s '24 93 do 5s '52 6) do 5s '81 I 103 .Dutch E Ind rets 6 '47 06 Vi 127 do rets 6s '62. 95 lS7IFrench 8s 100 V, 171iFrench 7 Vis 07 19ilmp. Jp. 1st 4 Vis 93 1 do 2d 4 Vss . . . 93 V 55 do sterl loan 4s. 83 13iDenmark 8s .... Ill 27 do ctls 6s ... . 99 22:Xetherlanda rctsOs 94 19 Sweden 6 J104 56Bolivia 8s 98 14. Chile 8s '26 2j do 8s "41 Cuba 4 Vis . 60'rze-slovakia8s cfsj 1 It'ruguay 8s 10 Queensland 7s... 6; Queensland 6s ctfs . 36 Swiss 6s 5; Rio G de Sul 8s. I 6 Sao Paulo 8s . . . 52 l'KGBA:I 5 Vii'22,107 62! do ft'as 76 do 5i 81 102 104 104 99 110 113 80 91 V 109 80 80 93 101 82 Vi 100 100 79 102 114 89 108 91 82 102 105 104 99 110 114 80 91 109 81 81 93 102 82 101 100 79 102 114 89 108 92 i!02 H102 1.04 104 104 89 87 89 93 92 i 93 105 Vi 105 1105 Vi 109 109 109 103103103 121 121 1121 102 1101 1101 103 102103 107 1107 '29. . .(107 107 107 '37. . . 103 103 1103 il03 il02102 89 88 I 89 88HI 88 88 56 53 41 101 1101 99 i 99 99 99 100 l00 95 95 99 87 93 93 82 95 99 100 87 93 Vi 93 82 Sales In $1000 High Low 1 Close l&iAnacrar 4s...l 82 2AU Fruit evt 7s. 85 16!Ati Ref deb Ss. . 89 27iBeU Tel of Pa 7s! 108 JKBarnsdali 8s 31 do (m A B . 9; Beth B 1st ext 110 U10 9S 99 94 94 104 1104 97 I 98 102 rets. 55 53 40 55 53 41 40 Brazil 8i 14! do 7 s 1 .") do large . . 2 Melican 5s 20 1 do large 5s 301 do 4s NEW TOKix U1TT BUNDS 4 N T City 4s '56.100 1100 1100 1 do 3s '54 1 92 H 62 82 MISCELLANEOI"8 AND INDt'STKIAL .BONDS lOlAm Agr Cm 7sjl05 105!105 1 Am Smelt 1st 5si 95 95 95 58iAm Su & Ref U103T, 103;i03 7IAm T & T cvt 6?ill6 116 118 14i do col tr 5s... j 100 99 99 111 do col 4s 93 92 92 4 Am Wr Paper s 86 86 ! 86 37IA J fn M cTteBal 79 79 ! 79 The Prosperity of the Nation The investment of surplus wealth in good bonds is a constructive factor in the prosperity of the nation. By employing accumulated wealth in this manner, you perform a three-fold service: (1) To yourself, by obtaining a regular, definite, sure rental for the use of your funds; (2) to stable producing corporations who need money, by providing ' funds for extending their operations and doing more business;, (3) to the public welfare, by making the commodities of life more abundant through the use of your funds in productive enterprise. Likewise, we believe that in distributing to investors " good bonds, we serve our clients ; we serve sound pro ducing corporations, and we promote public welfare . and contribute to national prosperity. Blvth. Witter. &. Co, FOURTH AND STARK, PORTLAND C BROADWAY 6481 New Y,rk Chicago Portland San Francisco San Diego Seattle Oakland Pasadena Tacoma . Los Angeles Hollywood - Spokane 6sj 106 105 89 97 94 100 104 10A 95 92 85 88 10S 105 105 99 08 84 100 103 108 83 23 do ref 5s. 41 do p. m. J5s . . . j 51 j do 6s . . SjBkln Edi 6s B. . 8 do gen 7s G. . 5 i Bush Ter Big 6s 7Cer De Pas crt 8sjl27 127 Vi . ...ChUi Cop evt 7sllll 110 351 do col tr bs... 87 08 Slt'tn GasAKl 5 HsjlOO 10 5s. . 92 92 5s. . 7I1 78 6s. .) 6 5 4s 78 88 i 82 4!Colo Pueltl . . . I Colo Indust 12(.olo GasAiU ljComr Cables 2ComT-Tab Kec 6e 28!Jonsol Coal Md 5s 2Cuba Cane Sugar cvt deb 7s . 88 11) do 8s sU 92 2 Cub Araer Sue 8s 87 C,Det Edi rfg 6s 106 2Det Edi rfg 5..;i01 2iDet lUv Tun 4si 91 2;Dia M deb 7s. 107 14!Ent Sec cvt 5s. 61 53iLonner St ref 7s. j 96 lliDup d Nem7s.;108 3Duqu Id & P 6s'l05 71 Err.p GAFcrt7 cH 97 2 Flak Hub Co 8s. '107 30iPramIxUedb7 s 94 2Pran Sugar 7s.l02 25. Goodrich 1st 6 10 liGood T K8s'41 15, do 8s '31 ... . 22)Granby Min 8s. . 4j Hoi Am L 6s ret. 52;Hum OAKdeb5s lOUll Steel deb 4s loilnd Steel 5s.... 2 Inter Agric 5s. . . 2 Inter Paper 5s A 29 do 5s B 20Int M M S F 4 0 In vine Oil 5s. 5 J Kaysor 7s. . . lOiKelly Spgfld T 2!Kg C E L P liLack Steel 5s. 40 do 5s 2Lig &. Myers 7s 6 do 5 6ILorillrd 7s '32 10 Magma Ccp 7s 3,M S db 7 s cfs US 1 Marl Oil 8s war122 1 31 ex Pete 8s . . . i 1 06 liMich St Tel 5s. .1101 35 Mid Steel cvt Ss 90 5iMi.rris 4 s . . . 89 74 INETiT 1st 5s All 00 2N Y Abnc cvt sil02 1N Y Dock Co 4 82 NY E Co ref 6Vi;112 2:N Y Tel deb 8 . . 1107 ' " ,1. . crn 1 II . , (l 7 8s li 91 88 92 67 106 101 91 107 59 95 108 105 96 106 94 102 101 116 100 98 88 99 83 82 85 99 108 105 105 89 96 94 100 103 106 95 127 110 96 10O 92 78 96 78 98 81 88 92 67 1106 101 91 107 61 96 108 105 96 107 94 102 101 116 100 98 89 V 99 93 116 100 99 , 89 99 la 93 102 101il01 80 80 80 90 90 90 90 90 90 93; 93 93 102 I 99 99 105 1105 105 8s109 !109 1109 C lll till ,111 , jlOO jlOO 10O . I 99 . 120 . 1100 . I 99 1123 98 HI 99 120 120 99 100 98 I 98 120 ,121 98 98 122 122 106 1106 101 101 90 t 90 89 99 102 82 ill 2 1107 ! 96 107 M Vs 99 102 82 112 107 97 10 SsllOn (104 1104 V. 30 do reg 6s 107 3Nia Kails Pew 25iN A E 6s rets . ..I 96! 06' 98 7N S P 1st 5s ... I 94 94 94 29N W B T 7s . . ..jl07 ,187 107 5 iOtis Steel 7 a ret 98! 96 96 7iP G a E i . . . . 84 94 V 94 2;Pae T4T6i... 99 99) 99 s 46 do 5s rets 94 93 93 3 P A P T 7s. . . 102 101 102 8PG4CC5(... 96 96 98 ISiPhi Co ref 6s.. 102 101 102 7P S of N J 5s. . . 89 i 89 89 8Prod A. Rttf 8s..;105 104 104 19i do Ss war 1118 tll6Vi 116 ao j rv a i st os a .... vi 3iSaks & Co. 7s... 1101 13 Sin C Oil 5s. . 99 205 do cU 7s . . . 106 S6t do 7 rets 1101 6 2a C 13 4 S 3 H 8s S P K S 7s . S B T dc T 5s 3 G 4 K ti 8l S O of Cal deb S T Co Am Tidewater O Tol Edi 1st 98 . . ;103 . . 98 . .1 97 73,105 7s101 96 101 99 106 101 97 9 101 99 106 101 98 24lTol L & P 6s. 35;Tub Prod 7s 6iL"n B & P 6s ctfs, 100 2;Un Tank Car 7s 103 2Cn Drug 8s ..111 27fn Fuel Gas 6s 98 8U S Hoff M 8sil05 9 Ln SS C 6s ctfs 92 0;U S Rub 7 s . .1108 17i do 5s 1 90 111U S Steel sf 5s, 104 5ll'th Pow Sc. L 5s) 93 271V-Csro Ch 7s r Ai 98 18 do cvt 7s A w 97 5.Va I C & C 5s103 I61VV U 6s ...1112 3Westinghse El 7s,108 102 103 97 98 97 I 97 105 105 101 1101 6 si 103 1 103 1103 H 7s. . 108 108 108 100 J 99 I 99, 108S 106 ilOtt H 1001100 103 103 111 1111 98 98 104 104 921 92 108 108 90 90 103 103 93 93 98 98 97 97 103 1103 1111 112 108 Vs 1108 SiWinch Arms 7 sil03 ! 1 03 1103 i lliWick Spen SU 7si 99 99 99 HOlWiUon 1st 6s. . .102 4111 do cvt 6s 100 16 do 7s ,108 101 ,102 j 98 89 'l07il08 RAILROAD BONDS 16 5 11 1 17A 1 i i 12 36 22 4 17 A T 3 F gen 4s do adj 4s ... do Tr 3 L 4s AAC A L 4 s A C I' 1st con 4s B A, O 6s do ref 5s do cvt 4 s ... do gold 4s . . . . do p In 3 s . . . do 4s TACin div do 3 s Swn div 19IB R T 7s -. 1 2 ! do 7s tr co ctf stl 3 Brkln U El 1st 5sf 2; Bush Term con 5s 15Can Nor deb 6 si 63 Can Pac 4s. . 27 Cent R of Bras 7sl 5 O of G B cnl 5si 14Cent Pac 1st rf 4 2 do Sh Line 4s. 48C A. O evt 5s. . . 41 do "Sen 4 a . . . 3S)Chi A Al rig 3s. . 42 do 35 12C B Q gen 4s Hi do ref 5s 5,C B Q s 111 di do ext 4s Neb di C A E I 5s. . . . Chi Gr West 4s.. Chi I & Lv 1st 6s 1st gen 6s. 4 St P 4 si cvt 4 s. . rfg 4s A cvt 5s. . . . 4s deb 4s ... Pu S 1st 4s w deb 5s 8s 111 gen 5s 107 Rys Co Bs . . j 82 86 86 1 7 13 4 do C M do do do do do M 80 90 IS 46 1 4'C 3 C N 1 do 15 do 3!Chic 52lr. n 92 83 85 94 91 101 92 87 86 95 77 93 92 88 90 92 114 84 91 100 90 83 97 90 58 -35 91 102 85 "98 85 54 100 86 89 74 69 77 84 66 74 101 92 H 83 84 94 90 101 91 86 88 95 77 93 92 88 90 92 113 83 91 92 83 85 94 91 101 91 86 86 95 77 93 92 88 90 92 114 83 91 100 100 123 1 8 7 1 5 7 1 2 2 16 18 32 rtys i- o os . . Vfff.1"4! r Haute A S A ref Bel 84 do C Ter E Irt C 4 W Ind 7sll02 do con 4s .... 77 CCC A StLd4sl 92 do 6s S A 1108 V CleTe Cn T 5s. 105 Cub S. R. Bs ... I 88 do 1st hfcfr 7 si D ex H crt os . . . D & Rio G rf Bs. do rfg 5s k cars. con 4s. . . . 2(Det Cn Rys 4s lStEne gen In 4s 33 j do pr In 4s. . 4 j do cvt 4sA . . 12 do cvt 4sB. . 17 do evt 4sD. . 1 Gal Hon Ha 5s! 4 Gd Trnk Can 7a 11 do 6s 16iGt Nor 7s 10! do 5 Vis 7IHst EIRyLtAP 5sJ 14 HadAMan rf BaA 131 do adj ine 5s. . 1 DI Cent 5s . . 1 do A CStLANO it 6a A 8 do rfg 4s 8 do 4s do 4s 2 Inter Met 4 s . S de etfs 4s sti 23 lot & T en 7s riJ 85 do ref Bs . . .1 18 do ref 6s bk ctfs 141 do 6s 8 JtotGN Ss nU ettsJ IB do ad) 6s wl IX C Fi 8 4 M a 40 do 4s 15lK C Boa 1st Ss. 5, Lake tW 1st Bsi 10 Lk Sh MS 4s 1S;L & N 7s l do am. 4s 51 do 8 K a 54,LotnaN W 107 101 47 43 78 65 54 52 52 54 0 114 104 118 108 86 87 67 102 99 91 87 83 16 18 97 T2 72 80 54 8 71 97 95 109 H 98 M. 4lOO I Maai aW Colts Sal 99 9S Mkt St Kjr coa Ba 89 lot do 6s I 94 !VIL 1st rf4s. 44 10 de rfg 5s I. . 45 do 8S . ...... 1105 H X f 1st 4a. 1 64 do 4s B w i. .. . TS do Bs A v 1 1 87 da adj Be A wi.i 64 V do-Sa C w i 1 98 Sm P rfg Ss I 98 do OS IIUS . do gen 4j .... .1 S 5lNssse.a El 4 ...I 60 S NBoOil s ItJ epl 89 7 IS O tana 4a. 1 89 . f!X O T ek M ine Be) 69 85 ;N T Cent deb 6-1197 t. 11 I C 4 H' Ri ..'..I rf ex imp 4s.( 90 4 12 4 91 39 80 90 85 97 V, 90 62 35 61 102 84 98 85 54 100 86 89 74 68 76 84 66 74 101 111 107 82 86 86 84 102 77 92 103 105 88 107 101 46 48 78 85 58 65 61 62 54 90 118 104 118 104 86 86 7 102 99 91 87 83 18 97 72 5 72 80 7 .& 108 82 71 97 5 U. 108 an u 100 H 78 99 89 4 44 44 Ss ,101 1S 84 78 87 63 98 a 103- 7 0 80 80 107 . 90 85 Ti 97 90 52 Vs 35 Vs 91 102 84 88 .85 Vi 54 100 88 89 74 68 76 84 68 74 101 111 1107 I ? -v 88 H 86 84 102 77 92 108 105 88 107 101 46 43 78 85 53 65 52 62 64 90 114 104 urn. 104 86 86 67 102 99 91 87 88 1 15 9t 73 72 80 87 68 108 83 Tl 97 95 H09 98 100 99 89 4 44 44 101 105 ?3 87 88 98 98 4 102 7 0 80 90 79 197 j Sales (In $1000) 228 4 do gen 3 a. do 5a XYCA8L deb -VTXHAH deb High! Low Close 4iNY NHA BdbSHsl 2iN X St R en 4 si 3NY SuaAW g m 5s 35 NY W A B 4 si ZiNon Ron gxt Bsi 10lN sWEE crtOsi S8!Nor Pse 6s B . . 8 Nor Pac pr In 4s. 81 do sen Ss 70 do ref A imp Bs 40 Or Sh Line rfg 4s 1J O-W R A N 4S. 97IP L M BR 6s ctf 12 Pa B R 7s 5 do ,6s 19 do gld 6s. . 9 do t m 4s. 4 do :4s BPere Marq rfg Bs 4jP R.L AP Bs '42 8; do 7s '48. . . 33 Reading gen 4-3. 1RGAW col tr 4s l.SLLUdtAS gen Bs 2) do ref 4s . . . 8,SU L I Mt A Si I R A G div 4s. SjStLASF pr In 4&A do 5sB do adj 6s do inc 6s do gen 5 sD. . 10St L S W con 4s 21 StPKC ShLn4s 3 San Ant A A P t 1st 4s 7S A L rfg 4s 2 i do adj 5s .... . 28 do con 6s 40;Son Pac eon 4f. 301 do rfg 4s Ry gen 4s. con 5a. . . . 6a .... A Pac 1st 5s! are rig 4s 8 89 19 74 Sou 43 do 281 do 10Tex 5 3d 21 do adj 5s SiTri O By A L 5s 3T StL A W 4s 7iCn Pac 6s 13 21 1 do 1st 4s . do cvt 4 s do ref 4s lOiCn R Inv C SK5s 5iVa Tty 5s . 2W'ab 1st 55 2 1 do Om d 3 s SjWest Md 4s . 2! do 5 4 1 West Shore 4s. 5 W ALE eon 4s SiW-B A E 1st 6s! 80) 99 88 84 62 72 51 56 69 120 HO 91 64 99 93 84 75 110 102 111 94 93 99 86 107 86 68 98 Va 91 87 76 91 86 78 97 78 86 78 45 27 68 93 91 72 99 104 99 69 67 100 76 105 94 95 89 0 100 10O 72 68 S7 86 98 83 STANDARD OIL ISSUES 80 99 88 84 02 72 50 56 69 120 110 90 63 99 93 84 75 110 101 111 94 98 99 86 107 85 68 99 H 91 87 75 90 86 78 97 78 83 78 45 27 67 93 81 71 98 103 99 68 67 100 75 105 94 95 89 90 99 100 72 67 86 Ts 86 98 83 80 99 88 84 62 72 51 B6 69 120 110 91 83 99 93 84 75 110 102 111 94 93 99 86 107 85 68 99 91 87 75 90 86 78 97 78 83 78 45 27 68 93 91 71 99 103 99 69 67 100 76 105 94 95 89 90 99 100 72 67 87 86 98 83 PROFIT TAKING IN SECURITIES IS SHOWN BY TIRED HOLDERS DURING THE SESSION LONGS TIRED OF HOLDING STOCK 2100Angk Am OU. lO Buckeye PL.. 20ICoutinental Oil 20 Eureka PL... 20Ohio Oil 30 IU P L . 1 20 H I 20 1 1 20 Vi I S 98 HX 146H145 1146 96 96 96 1303 1302 1302 1173 173 173 845jlmp Oil of Canada113 1J0110 6800, InU Pet Co Ltd.. 22 21HI 21 lOOjNat Transit Co..f 2Vs 26 Vi I 26 Vi HI Prune Oil A OasB35 635 63 ,118H .1109 . j5H0 .510 . 500 . 518 .1 24 new 19900S O Ind 1300:8 O Ky 80 S O Kas . . 4oo;s O N T . 13018 O Ohio 110 Vacuum OU 40 Washington 118 116 (107 108 Oil. 1571 488 4S8 495 I jo i o 1 500 jiOO 502 I 24 BASK Clearings Mon. Balances Mon. Clearings Tues. Balances Tues. Clearings Balances Clearings Balances STATEMENT OF Portlsno Banks . 1922 7.899.98 2. 2015. ! 5 5.835.000 1.400.174 660,297 1.079.155 5,708.213 1.309.887 Wed. . Wed. . Ttmrs. Thurs. COAST 1921. 6.872.971 1.894.706 6.839.014 1.554.182 5,488.178 952.421 4,679,721 951,833 Clearings Clearings Balances San Francisco Banks Thursday Seattle Ba.iks Thursday Thursday Oakland Barks Clearings Thursday Los Anje:e stanks Clearinfcs Thursday TaccRM Binki Thursday's transactions S26.900.000 S 5.520.977 1.231.815 S 2.222,500 $16,226,443 8 2.987.000 BOSTOX COrPEK STOCKS Reported by Over beck, Cooke Co. Bid. Aria Com 8 Adr'nture 50 Algomah 5 Allouez. 24 Arcadian 2 Bing Mns 1 7 Cal&Aris 60 CaluAH 280 New Corn 17 Centemal Cop Kge Dav Daly E Butte. Frank Mg Hancock Helvetia Isl Crk . . 105 Bid. 6 23 35 40 9 40 4 10 Keewana' Kerr Lke Lake Cop La Salle. Michigan Mohawk . May Old C N. Butte 2 Vi 8 3 1 2 60 3 II ' Asked. 8 Nipissing 100 O D C 15 Oseola M 25 Obijawa 2 15-16Quic Mng in Is Royal 61 ViS Lake 285 Su Boston 18 V S M 10 do pfd 4 1 S Ttah 4 Shattock 1 0 Trinity Cop 1 7 - Tuolumne 55 2 L'tah Metals 1 1 Utah Con 2 105 ViU 8 M 41 - ao ptd 4 rtah Apex 4 V Ventura 1 Victoria 3 Vs Winona 61 Wolverine 3 vVyandoit 11 Ask. 6 24 36 2 41 22 23 44 45 1 1-16 1 43 43 26 27 2 7 9 10 16 1 65 1 2 43 48 48 2 29 1 1 10 50 1 1 11 60 Boston Wool Trade Qolet Boston. Sept. 21. Ther was no indica tion in the Summer treet wool market today that prices would be nnsett-ed by the signing of the tariff bill. Business waa somewhat quiet but demand was in v denee and holder were preparing to remove large amounts of foreign wools frr.m bonl when the bill become a law. The reports from Brisbane indicated a firm tone in the markets for Australian wool-. Medium wools continuevi In excellent demand nervi ana uie undertone of the market firm. was WALL STREET STOCK QUOTATIONS Reported by Oversees A Cooke Co.. Board of Trade BoikUoc L Sew ' Tork, Sept. AdTaaees 1b some of the Standard on stock -were tke oat standing; Incidents on the earn exchange today. Oreralgrht had cone word that Yarn am Oil was plannlng-a 199 per cent stock dividend. Alonr with this the Intimations were very strong- that a splitting- ap of capital was la prospect fro Standard OU of Sew Tork, la conseaneace the possi bilities of similar capital rearraar meats ea other Standard Oil proper ties were eagerly canvassed. In the Independent oils, Soathera States Oil established a new high rec ord for the present movement oa baying- reflecting- large Increases in pro duction. Feasland, Standard Oil and M ataal were firm and higher. Trading- In other sections was torn paratively dull. Magma Copper, which had aOeB n active leader in the min ing tgroap, recently, was removed from the list today. Bangor and Aroo sUfk Railroad company 7 per cent pre ferred stock was admitted to . trading bnt np until a late hour no sales had taken place. . There was a firmer tendency in the motor issues, with Stuts, Peerless, Con tinental Motors, Darant and Packard In demand but after advances had been established profit taking caused a reaction. An easier tendency was displayed in radio issue and in United Retail Candy. Sales. STOCK- 300 ' 20OO 200 1200 1300jAdams Express... 700Advauce Rum. . . do pfd Agr Chem do pfd ....... Ajax Rubber . . . Alaska Gold . . . . Alaska-Juneau . . . 2200AUied Chem 1200Allis-Chalmers .. 2 oo; do pfd 1200)Am Beet Sugar. . 400Am Bosch 6200An Can Co .... I do pfd Car Fdy. . pfd Cot Oil pfd Drug Synd . . A Leatb lOOAm I do 600;Am lOOj do 200Am 200jAm Hide 300 do pfd lOOOIAm 29O0'lAm 1400iAm 3900:Am BOOj do 300 Am High 82 20 '38 Low. 79 19 38 13 1 83 56 14 ' 1 84 57i 103 il03 45 I 44 41 j 40 61 59 I- Bid- 79 18 55 38 88 13 1 83 58 103 44 40 59 1109 1186 1121 27 55 "13 704 Ice Intl Corp . Linseed . . Loco . . . . pfd Saf Razor . . . 6900Am Ship A Comrel 4200;Am Smelter . . . . j 400 do pfd .... iAm .Snuif ! 8700Am Steel Fdy. . . Sugar pfd .... Sumatra Tel A Te! Tobacco pfd. SlOOIAm do 900 Am 6000 iAm lOOO'Am llOO do B 9200IAm Wool ' do pfd 100 Am W P 1600 iAm Zinc B700Anactnda. 1400Assd Oil 3600IAtehison 1001 do pfd 800 AU Coast Line. 400!Atl Uulf A W 321 OOlBaldwin Loco . ' 1001 do pfd 3000!Balto A Ohio. . I do pfd 21 OO'Barnsdell Corp 5400! do B 9300!Beth Steel B.. 300Booth Fish 22001B R T. ..... . 800 Butte C A Z. . 2300 Butte A Sup. . . 3800 Burns Bros A.. 188 1186 I 28 I 27 55 55 6 6 13 ! 13 71 70 116 113!113 85 I 34 j 84 88.! 38 38 12412l121 119 I11.84H17 7 I 7 4 I 7 22 21 j 21 63 1 61 I 61 103 '103 1102 ! I 1148 I 4,4 43 43 82 1 80 80 I I mo I 42 I 41 I 41 II 22 121 121 iinr, jio vi leovi 1160 V4 158 V4 1158 101 I 97V4! 97V4 109 31 31 20 19 54 53 120 1117 106 104 92 to 92 Vi 121 119 V4 31 I 30 188 134 115 1113 57 ! 55 200 700 L. do B Caddo Ofl . . Calif Packing ISOO Calif Pet . . . ! do pfd . . . 1 1 OOlCallahan Z A 270iCanadian Pse . . . 5000jCen Leather . . . 1400lCerro da Pasco. , 81001Chandler Motor . 2700!CMcago A S W. 500 Chi Gt W 1400 do pfd 15400 Chile Cop 2300 Chino 6400 C M St P 8100 do pfd 1 700 Coca Col 8200 O A O 700 Colo F A I 200 Colo Southern . . . 4100 Co) Gas A El.. 900 Columbia Graph. . 16200Con Gas 230O!Cons Cigars . . . . 30O1 do rfd " 7 00 Icons Textile . . . . 400!Contl Can 2800 Corn Prod ..... do ?fd 26800 Oosden Oil 50000 C R I P 100 do "A" Pfd . . . 700 do "B" pfd 5000 Crucible . 100 do pfd laooiCuba Cane . . . . . 1600 do pfd 17300 Cuban Am Sugar. 1300IDavison Chem . . . 40 38 76 9 25 7 83 138 48 75 0 24 7 32 137 48 85 64 ' !9H 146 42 40 60 93 15 26 81 34 Vi 52 68 75 34 49 111 3l 143 41 81 iov 88 117 'si' 48 103 93 91 95 14 36 24 50 84 62 ' "9 145 41 39 58 V4 92 6 14 25 30 S3 50 87 78 84 49 100 3 139 38 80 10 88 114 49 44 103 93 88 95 13 85 2 48 SO 19 53 116 104 92 121 ao 134 115 56 65 38 26 75 9 24 7 82 138 48 10 83 62 95 9 145 40 39 58 92 6 14 25 29 33 50 Vi 67 73 83 49 109 3 139 38 80 10 86 114 117 49 44 102 93 88 95 13 84 23 48 Sales. 1 STOCKS : OOOjDel A Hudson... OOjDel A Lack lSOOiDosae Mines 3100Elec Stor Batty.. 80o,Eudicott Johnson 260O'Erie 800 do 1st pfd . . . . 8700:Famotu Players . . lOOjPed M A S . . . . 8o0 do pfd 20OjFiak Tire 200;Gen Cigars .... lOOjGen Eleo 1550OGcn Motor 100) do 6 p c 10 20 (Mien Asphalt . . . . . jGlidden Paint . . . 1300, Goodrich TAB. )Glen Alden . . . . 1200jGranby lOOiGreat Nor Ore . . . 2900 1 do pfd Greene Cananea . 142O0Gulf S Steel . . 1O0 ; Houston Oil . . . lOOOlHapp Motor ... 200II1 Cent B00; Inspiration lint Agr Corp 300 do pfd SoOjlnterboro ...... lOOOj dc pfd SOOjrht Harr 700, Int M M 10700 do pfd 700jlnt Nickel I200;liit I'aper I do pfd 11500'Inv Oil 700;island Oil ..... 1200,jewel Tea 900 K C South . . . . 400 do pfd 1200Kayser J HOOiKelly-Spgfld. . . 2900:KennecoU .... 15 00 Key stone Tire . . 480!Lack Steel 100!Lee Tire 5400lLehigh Val 300Lorillard 700Loew Theatres . 300L A N 4 800Limaloco 8600 Marland Oil ... 100 Maxwell Motor A 1000i do B 13 00 May Stores .... 1780:Mex Pet 4100Mex Seaboard .. 300, Miami 40011, Mid States Oil. . 2400jMidvsle Steel . . lOOOiM KIT Wi. . . 800iMark Truck . . . "400Mont Power ... 1400Mont Ward ... 7500 Mo Pac 3000 do pfd M StP A SSM. 400 Nat Biscuit .... HOOiNat Enamel ... SOOINat Lead 500;Nevada Con . . . 1138 (136 lit Vfc493 Mlgn. Low. lata. 186 183 SS I 37 i 87 60) 49 49 88 84 84 ! I51 15) 15 24 24 24 U v-sl 9 13 13 13 61 59 68 la 13. IS 81 81 80 177 177 1177 14) 14 14 85 85 I 84 64 52 52 .1 I 14 84 , 31 33 68 32) 31l 81 40 I 39 t 89 93 92 i 92 85 82 1 82 79 ,l 19 IS 22 I 21 21 111 111 Vi 1I 41 36 1 4 ii2riii iin 40 I I 86 1 4 I 40 9 36 1 4 8800New Haven 1400 Norf A W 6100 Nor Vier 2000 Nor l ac Nov Scotia Steel". 1300 N Y Air Brake. . 4800 N T Central 700 Okla Prod ref . . . 2 1 00 Orpheum lOnUrio A W... 40OIGtis Steel 1700!Pacific Dev 1200IPao Gas A Elec. 11500iPacific Oil 12000iPan Amrt Pet... 1900i do "B" 7900 Penna 200 Penna Sea Steel. 200Peo Gaa 800'Pere Mannette . 3400; Pliiladelphia Co. . 210OPhUUpa Pete 800!Pierce Arrow . . . StlOOIPierce Oil UOOlPitts Coal 800:Pitts & West Va 300:PreSed Steel car 600iPunta Alegre . . SOOO'Pulir&an 4800!Pure Oil 1200!Ray Cons , 8000Readin 500!Remington 1700iKeplogle Steel .. leiOOiliepubUo IAS. 14 4a 58 1 17 57 "io 19 24 68 47 44 36 8 82 22 70Vi 178 22 138 62 40 58 19 133 191 21 29 13 36 18 Vi 59 75 22 22 61 H ieo 61 I1UO 5 17 32 120 05 87 22500 2600 400 700 do pfd 200lRep Motors . . . . 1500!RoysJ Dutch Oil. lOOjlty Steel Spg. . . SOOlSaxon Motors . . llOO Sears Robuck SOOShattuck Ariz . . iShell T A T .'. . 184001Sinclair 400fSloss Shef 4200 Sou Pacific 4100 Sou By 1500 do pfd 18200 Stand Oil Cel.. ..... do Ind do N J do Ky IS L A S F Strcrnberg Carb . . 30100 Stiidebaker (Swift A Co 200iTenn Cop A Chat 5900 Texas Oil 600Texas Pae . . . . . 2200 Tex Pac C A O. 3800Tob Products.... 1000Tra.n Cont Oil.. lOO.Union Bag A "P. 1500Fnon Oil Del. . 6400ICnion Pac Unilted Alloy . . . 1O00 ITnited Drill . . . 400 United Food Prod 200iCnited Fruit 7500irnited Bet St 200iU SCI Pipe 5900IL 8 Ind Alcohol 26200C S Rubber.. 40 98 2 24 io 5 88 57 81 76 49 7 97 37 45 62 13 6 70 89 92 47 135 82 15 79 88 33 70 92 4 58 118 4 89 10 34 50 94 26 63 116 118 195 108 29 53 129 'io" 48 31 26 65 14 75 20 152 '66 7 160 84 84 66 52 I I 56 17 564 14 18 23 58 45 43 35 8 81 21 67 176 21 137 59 89 58 18 130 186 20 29 13 34 18 57 78 2J 21 59 158" ' 60 103 16 30 118 92 86 38 97 2 23 "io 5 88 58 78 74 48 8 95 37 44 51 12 6 68 38 90 46 132 81 15 78 87 82 86 92 4 57 118 88 10 'S3V4 48 93 25 62 114 116 188 108 28 51 126 10 47 80 25 62 14 75 19 150 79 6 ISO 81 33 4 49 14 57 17 56 95 15 18 24 57 45 43 85 8 82 26 68 172 21 137 59 39 57 18 131 186 20 29 13 34 18 57 73 22 21 59 70 158 60 103 16 30 118 94 85 86 38 97 2 23 25 10 5 88 58 78 74 48 95 37 45 61 12 6 68 38 88 46 131 81 15 78 87 82 68 91 3 57 117 4 88 10 39 33 48 93 25 62 114 116 192 108 28 51 126 109 10 mt 80 25 62 14 75 19 149 88 80 6 149 81 83 04 60 Sales. STOCK " 1 High. ( Lew. Bid. 4200 do 1st pfd . . . 96 1 93 93 200 U S Smelting.. 42 42 41 24000 U S Steel 104 108 108 do pfd 121 4900 Tub. Copper .. 69 67 67 80OVa Chem . . . . 27 2 26 do fd . . . . 65 8900 Vanadium Steel.. 50 49 48 8000 Vivsudou 18 18 IS 130O Wabash 12 12 12 24O0 do A pfd 88 82 32 10O do B pfd . . i .. 21 21 20 400 Wells Fargo ... 80 80 80 0O West Pac 18 18 18 do pfd 64 200 Wert Cnion . . . 117 117 1 IS jWesfhouse A B " 102 S00O do E 4s M .. 64 62 62 150OjWet Md 15 14 14 220O,White Eagle Oil 82 81 81 lOOiWhite Motors. . . 60 50 49 40!white Oil 8 8 8 . 14001 Willys - Overland 1 6 600 do pfd 44 48 43 700(Wilson Packing.. 48 47 47 200 1 Wi Central .a. 81 Vs 31 81 100 1 Wool worth 185 185 185 OOOjWorth'ton Pump. 42 41 41 HOOW A E 7 18 13 18 Total rales stocks. 1.120,300 shares; total sales bonds, $18,500,000. MID WEST BANKS Kansas City. Sept. 21. The banks of this district today are in better condition to with stand any 'demands upon them than they were three months ago. This is taken aa an evi dence of general improvement in business in this section. The figures today showed that de posits, cash holdings and total resources hare increased, while loans are smaller. Motor trucks are being used to haul cattle to the Kaasaa dtv livestock mark eta freaa points rally 209 miles distant. This more waa brought about by tbe shortage of railroad care and the difficulty encountered la getting stack er and feeder oattle'to market. This business Is expected to cut into the short haul ef th earners even after rail traffic returns to nor mal. BuslBessxaejl in - this, section are show ing keen interest la the Southwestern buiinese congress, which will meet at Tulsa, Okla., October 18. FOREIGN EXCHANGE HATES Corrected daily by the fbreicn exchange de part me at of the L'nitxl Ktataa National Aank. Quotations below (except the pound sterling! are quoted oa the basia of 100 units foreign currency. Opening nominal rates on bank transactloas: . ' Draft Cable. Par London Checks. Transfers. Value. L.DS. sterling.! 4 3 t. Pans Franca. . 7.65 Belgium Francs 7.24 Berlin Marks Genoa Lire . , Athens Drachmas. . Covenhagen . Kroner . . Christie nia Kroner Stork holm - Kroner . . . Hons Song - Currency . Japan Ten . Shanghai Taels .07 . 4 33 , S.S5 .20.es .18.88 .26.49 .57.40 .48.20 .77.85 4 48 -7.88 Vs 7.25 .07 4.23 2.87 v 21.00 16.98 26.64 S7.65 48.36 4.88S 19.80 19.80 28 81. 19.80 , 19.80 29170 26.7S 26-TO T7.65 Canadian dollar discount, 1 and 2 per cent. 5 Foreign Exchange Market New Tork. Sept. 21. (U. P.) Foreign exchange opened steady. Sterling. $4.43. up c; rancs. .0f67; lira, .0424; marks. .0007 . Foreign exchange closed with sterling, at $4.48; franca. 0764; lire. .0422: marks. .0007. toxj 0 Jl ax Itixempt Bonds Government, State, Municipal, Joint Stock Land Bank and Agricultural District Bonds (01 All offerings are subject to prior sale and advance in price. Advancing prices have featured the market for municipal and other tax-free investments in the past fortnight. It is evident that the market has absorbed the large supply of American municipal bonds issued this year, and recent sales have been made at a much higher level than ' prevailed in the early summer. The bonds we now own were bought before the recent ad vance and at the prices we quite are particularly attractive. Are you on our mailing list? Do you wish us to send you' a copy of our current list? Have you ever consulted us ? Call, phone (Broadway 5740) or write. The bonds we tell are bonds toe own Freeman, Smith a CfMp Co. r-irV a I , -sae UmUXMCNS BULKsW Poirnjux Oft. CHAPTER I It is easy to buy bonds WHO BUYS THE MOST BONDS? 70 gll IU g Our records of sales of bonds' of five strong California power com panies Pacific Gas & Electric, San Joaquin, Light & Power Cor poration, Great Western Power, Southern California Edison .West ern States Gas & Electric bring out these interesting facts: 70 of bond sales were to Indi viduals. 2,6 of bond sales were to Banks. 4 of bond sales were to Insur ance Companies. In the volume of sales: 46 of the total was sold to In dividjuals. 33 pfthe total was sold to Banks. ai of the total was sold to In surance Companies. It is easy to buy bonds. Small amounts or large. Our service is the same to alL Callxtr use the mail. Buy Bonds! Aifc for our booklet "It h Eaxj to Buy Bonds" Nam , ' 31 Cyriis Peh:eGomi5vny 1002 WUcox Bldg. PORTLAND Phone Bdwy. 5915 Seattle San Francisco Los Aafeles MORRIS BROTHERS' Coulee Gity, Washington 7 District Sewer Bonds Dated September 1, 1919 JO Optional f Due September 1, 1931 YIELD 64 City of Shelby, Montana 6f0 District Bonds Guaranteed by Revolving Fund Dated February 3, 1 920 JO Optional Doe February 3, 1930 YIELD 6i City of Mill's, Wyoming 6 General Obligation Water Bonds - Dated June 2, 1922 Optional alter 15 Years . . Due Jon 2, 1952 TO YIELD 6 Telephona er Teleraa. Orlers st Oir xpns Government and Municipal Bonds MORRIS BUIUJIwPrtpfloY STARK ST BROADWAY, 21 51 A UI UtlILU,Ui UgOIL SA CEPCT UXj :