Image provided by: University of Oregon Libraries; Eugene, OR
About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Sept. 25, 1922)
THE OREGON DAILY JOURNAL,' PORTLAND, OREGON. MONDAY, SEPTEMBER 23, 1922. iffVESTMENT MARKETS ARE SHOWING MUCH. CONCERN ORCTHE; TREND OF EUROPE . . I Worthinet'a. Punic! .....! 41 2001W A L K . t 13 J 18 18 Total sales i.t stork for Fe day wera 6i, 800 aharea with S10.O44.00O la bonds. 10 FOREIGN AFFAIRS : AFFECT STOCKS By Stuart .- wpt wa StrMt, Sew Tsrk, Sept. 25. Uncer tainty over European politics u a (actor ia today markets, which were marked bj . em tmmmt. 11 i-ntjarjjgJJ.ijaaa evenutu actions ttom I '"N 1 any . day daring the ! j"." . S current month. How- S r . it m t. .M .. ........ by no means- the ho! explanation for lUTBUKDb . IDS activities. jf ' kj tu interpreted in the ' yj " J main aa hopefoL yet t noi at au inclusive. ft Consequent!; while the V"i loreicn excnarige srent uiKDH, uiv rue wai i mall and the same XT'i't 1 sovernment bonda, "W . ever L Vf'I a speculative TK. i n t e a t m ent VVl market waa more con- il i-emed over Turtiih Jarfairs than the speculative market, but there mere other influences at wore nrnuci ttioa and a disposition to delay intended pur--haeee. One of theae waa the deaire to set a ; better lineup in the volume of new eecuntj Haanea expected within the next week or ao. The other waa the wish to know more aoout the project of the new overnment loan, its sixe, lta terms and the amount of competition vHeh it would inrotae for other iavestmema. "i..." Speculative Snap Marine The ooUtandin feature in the atock market waa - that speculative operations bad loat the energy which characterised them all through Aucuit and the first week of September. . The market after all was merely pavinc the same sort, of lull and partial let down which it had' after the culmination cf the spring cam paign.and before resumption of -the main for ward movement in the midsummer.. The chances are that what has happened in the peculation of the last week would bare hap pened anyway, regardless of the newa from the Dardanelles; Capitalize- OH Kearnlno - Two matters of particular interest in the stock trading of the day were the taction to be taken by a number of the Standard Oil companies in capitalising their surplus earn fawa and the Question of the August railway statements which will begin to come out in a few vlave. and which it ia expected will make an unfavorable abowing. The market demonstrated its opinion on theae two subjects in another rise in the Standard Oil stock both in and out of the stock exchange, and by more or -ess pressure brought to bear against the railway list. Non-dividend paying rails like Rock Island and B. A O. were more sensitive than the dividend pavers to the suggestion of unfavor able profits reports. . Of course, th August returns will take ac count of the strike losses and will be of only temporary significance. The September figures will -tall a very different story and October and November, when the huge coal movement wiU.be coupled with the season of - rush of grain -to -'market, are likely to prove aa big months aa any one record. In the commodity markets the sharp drop in wheat waa commonly set down to, the more cheerful character of the foreign news. Cot ton which theoretically should have advanced on any subsidence ola war scare, declined. Tae call money marxei waa - -uuuncuj easier. " Starting in at 5 per cent the rate dropped to 54 in the final hour. Good Scores Registered At Gun Club rnHIRTY-EIGHT trapshooters tome - old-timers and some from out-of- town point participated in the 'Henry K- EveraUng event at the Portland Gun , club gttinds Sunday. The scores reg - lstered -were' exceptionally good. ' ..- Jim Morris, thepopular president of ... the club,' was the busiest shooter on the grounds. Jim shot hi A self into three ties and succeeded In annexing one trophy. , " - Hla first shoot-off was for first prise In the Dr. O. W. Elliott handicap sgalnst C.' B. Preston and A. F. Daven port. ;Cv N- Ford won the event with tv. straight but put the trophy up for -tti trio that had tied for- second hon ors, itorrlar and .Preston tied on two ' strings,' before it was discovered that A. Davenport had tied tHem. In ; the next shoot-off Davenport won the trophy, Morris then Btepped to the traps and shot-off ties for second prize in class B on the 50-registered targets and sec : ond place in B class in the Kverding special. He lost to Dr. E. R. Seeley for the 60-blrd trophy, but after a sec ; ond, shoot-off beat V. C. Unden and A. 'TL 'Parrott for the Everding prize. The prise winners in the various events: 60-Targeta Class A J. Blaine Troeh. first; C. P. Preston, second. Class B Dr. E. R. Seeley. first ; A. R. " Parrott. second. Class C Ernie J. r Blaser, first ; O. B. Huston, second. Dr. O. W. Elliott Handicap A. F. Davenport. " . v Jlenry.R. Everding. Special Class A .J. Blame Troeh; first; JT A. Troeh. second. Class B Dr. Seeley, firrt ; J, .C Morris, second. Class C M. J. Champion, first; G. D. Jones second. Special prize for low score, E. Cha- leupka.' . t . MRS. FBEIBERG LOSES i:' Mark' Rickard of -Jcorvallis tied Blatine Troeh for high j honors In Class A of the Everding event,', but lost In a shoo toff. Mr. Iva Frieberg lost in the ; shootof f for second prise in the Ever ding .event to Guy Jones. Ed Morris waa high professional with a score of 49. V a-Ia 'D. Broadhead annexed the E. J. Jaer trophy iri". a point scoring sys- . : tn of . 35 ahoots. - V. C. Unden was runner-Tip In Ahe- event. ; -WC. Bristol and Felix Freidlander were. visitors at the club for the first - time In many months. scores: -- NEW YORK BOND TRANSACTIONS Heported by Tha Joumal'a Wall Street Bureaa ) . 1 KAVX. J. B. Troeh .... It.- Morrto.. Pr. E. K. 8eeley C B. Preaton . . J. C af orris . Mark Rickard A. . L PsaTTOt J. I. Stafford . Blassr ......... A ' F. tiavesport . V. ' C. Vndaa .... li. 1 B. Hostoa ..... L"D. Broadhead ... J. . SimpaoB ' . B. U laaataa.-..-.. .3. S. Craa -A, W. Strewgec .... IX Jonea ....... K. J. Jaea-er . . . Mrs. K. B. Tonne . . W. I Crowe ....i IT. M. A. Iaaca M J. Chaaapioa .... Heairy Ward II. Hones . . . . V. Blum ......... Frank Errin ...... K. Chaloupka W.. J. Less i O. N. Ford ....... Mrs. Iva Freiberg. R. . Wethemil -.... . K. U SnilUmaa J. 'A- Ummt . . . . M W. M oatgoonrr - . V. Freidtander . . . .. V. C. BrwtolT .... - - . . i i 5 W K L. a a a a S 49 23 39 4 .. 43 2S 55 48 24 22 48 .. 24 .48 29 25 4T 2S 3S 4 . . 24 4 ... 23 45 1 IT 44 24 20 45 28 24 48 IT 20 .48 22 22 40 14 9 40 31 23 -40 21 20 S 23 20 S . . 24 8 1 23 3 -. . 21 S3 3 23 38 14 IT 88 , . 35 37 .20 2 34' . . 1 84 32 2 2 19 1 28 13 S S3 21 20 . 25 .. . . 22 24 2 ..- 14 lO 1 IS .. IT 20 ... . .. 18 By George t. Hsgkes Wall Street, sew Tork, Sept. ti TJaeertalaty as to the ferelga sitaaUoa was apareaUy the eoBtrolHogtfartor la today's bead snarket, which was dsn aad Jrregalar. The vols me was man. the hesitation was ssaeh nor narked ia beads than la stocks. : X-'atll the slt aatlea la .the . Bear East has been cleared s both traders aad lavestors see little reasoa for saaklag mw torn BaltMeats. Beth high grade aad spee alatlre bonds were affected. Carloasly eaeagh foreign Issaes were compara tively ' strong. Swiss 8 eqsaled their high for the year an -the French 7si and the French 8 both gained, frac tionally. Another foreign lasne which was la demand! at advancing prices was the Anton Jargens Works 6, which sold nn to ft In the early deal ings, an advance ef 2 points. This Is a gnllder bead and so responsive to the same influences that govern exchange en Holland. It Is also convertible Into stock of the company and the fact that the dividend on the preferred stock was recently passed had adversely affected the price of the bend. Today's recov ery seemed to show that, the decline had goae too far. -i- Liberties were very Irregular with most of the changes lower. Among the high grade Issaes Illinois Central 4s of Hi aad American Telephone Tel egraph collateral tract is were np. The latter at 180 eqaalled Its high for the year. For bond aero red by collateral constating of stocks of affiliated and subsidiary companies this price Is ele qaent testimony to the high favor In which securities ef the telephone earn pany are held by lavestors. New York.. Sept. 25. Following is an of ficial list of all bonds traded in on the New Tork Stock Exchange . today with, prices and sales up to and including the close of the market. Total aales . today-were 84.896.000, against 313.722. 000 Saturday, 813,722.000 a week ago. 820,181,000 a - year ago. and 318.727,000 two yean ago. From January 1 to date 33.208,722.000 acairwt 32.271. 429.000 a year ago and 32,729.122.000 twdyears ago. UBEBTT BONDS Salea. IN 31000 Sslee In 310O0 I High Low Close 172 Lib 14 1 178 4 61 742 IS 476 57 1212 86 204 42 317 do do do da do 3 Vis 3Hs reg... 2nd 4s 1st 44i 1 1-t 4 Us reg. 2d 4 U s do 2d 4 44s res. do 8d 4 4 a do 3d 4 44s res. do 4th 4Hs. . . do 4th 4 Ha reg Vict 44s ..... do 4 4 a reg ... do 4 s . do 44 a reg 10138110124 10120110114 100010006 10064110050 10040110040! 100121100 I 100 I 999! 10020 lOOOIi 100OS! 10048 10034 10070 10064 .110030110026 . 10028!1001 9908! 100281 100281 100621 10046! 10128 10120 10OO6 10054 10040 10002 0996 1O002 10O06 10028 10028 10066 10046 10026 1O02O FOREIGN BONDS 30 Argentine 7s 60 Belgium 7 Vis . 12 do 8s 3 do 6s K Chinese Ry 0s. . 2 Bergen 8s . . .;. . 21 Berne 8s 2 Bordeaux 6s 18 Copenhagen 5 Hi 3 Christiania 8s . 88 Lyons 6s 23 Marseilles 6a . . 4 Prague TVil ... 6 Rio de Jan 8s. . llf do 8s ctfs . . . 4(Zurich 8s ..... 19 Seine 7 temp ctfs 5 Danish Mun - 8s A 14 do 8s B 2 Dominican 5a 6 do 5 Ms 25 p of Can SHl Bts HI do 6s '52 . . 48 D E I rets 6a '47 28 do rets 6s '62. . 2 5 French 8a 104 'French Goi:7i. 28 Imp Jap 1st i4tta o ao 2d 4 Ki. 4 81 do- sterling la 4a! zillienmark 8s. 211 do ctfs 6s . 17iltaly 6tta A 28(Netherlanda rets 6s 23 Norway 6s. . . 23!Sweden 6a. . . 4tlBolivia 8s... 24Chile 8s, '41 2 9 Chile Rs eertfs 5!Cuba 4 Ha 33 17 4 6 8 60 JCsechoalovakia 8sc Queensland .7a. do 6a ctfs. . . : Swiss Govt 8s. ;R Grand de Sul 8s! ISso Paulo 8s.'. . . 47IUK KBAI 5s 29 411 do 5s '37.. .ITiU S Braai! 8s. . . - 8 do 7 Hs rets 5 C S of Mex 5a. . . 8lU S of Mex 102 H 105 104 89 3s 52 i 104 114 80 93 . 110- Rt 81 83 10 100tt 114H 89H 109 108 96 H 91 H 101 S 99H 85 05 100 44 97 44 94 44 9344 814 111 99 44 96 94 112 1044 99 44 104 44 104 44 85 94 109 103 44 122 101 103 107 44 102 107 88 44 85 44 41 101 T 104 V4 1034 99 Ta 52 109 44 114 80 44 92 44 109 0 80 44 82 44 100 100 44 114 88H 109 107 06 44 0144 101 44 99 44 05 941 100 96 OS ' 93 81 110 99 96 94 112 104 97 104 108 85 93 108 103 121 101 102 107 102 102 86 55 40 102 105 104 99 S3 109 114 80 92 110 80 80 R3 44 lOO 100 4 1114 89 109 ; 107 96 91 44 11 99 95 95 10O 97 93 93 Rl 111 99 ; 96 94 112 104 98 104 i 104 ! 85 ; 94 108 103 121 101 103 : 107 102 102 89 53 ! 40 NEW TORE CITY BONDS 'Saooung 130-1 7!N Y City 4 -631108 1108 5 do 4s. '67...108!108 108 108 MISCELLANEOUS AND INDUSTRIAL BONDS ljAjax Rub 8s. . . Alaska C, M cv deb 6a N B . SOIAmAgrChem 7s IS Am Cot Oil 5s 5 Am Smelt 1st 5s. 41Am SugARef 6s.. 13 Am TAT evt 6s. 21 do col tr 6s -. 2j do col 4a .... . 5 Am W Works 5a. 6Am Wr Pap s.. esiAm Jur TJnJbr I garine evt 6s. . . 9IArmr re eat 4sl 5,AU Ref deb Ba. . 6 1 Baldwin Loco 6a. 8 -Bell Tel of Ta 7sj 4 Beth SU 1st extSs 13; do ref ei 9 do P St 6s... 44 do 6s 85'Braden Co." 6a . 11 B klyn. Edi. J. 31 do 5s, liBusb T. Bids. 5s 2 .Can. Gen. Elec. 6a; 15!Cen. Leath. a. 6: 12ICer. de P. evt 8s 14 Chile Cop. evt. 7ai S3 do col. tr. 6s. 6 Colo. In. 5a. . . lo. Aroca B. 7d 1 (Jom.Tab. R. 6a. 2; Cuba C 8 evt d 7sl 8 3 Cuba Can 8ugari l a sta . . . . !Cub. A. gug. 8a lO Cum. T. 4k T. Sal 4De Riv Tun 4 sl 3'Dia Mteb db 7 si iw ina see evt .. 23!Dup de Nem Ts o inui Ltarwr Ss. lO do 7a lSlEGeVF ev Ta efa 2iEd Dl of N T 5s) l-Pfet Rub Co 8s. 7!Fra I id db 7a lltieu. Kl- deb 6a. t do deb- 6a. 1-p'Goodrich 1st 6a zJiWrr its 8a '41 t do 8a8t... . 1 IGraabiJ Mia Sa. 2i do 8a lliHol Am Ln a re 52 Hra OAR db Saj 99 6IIU Steel deb 4s 93 Hind a teal as 2 Int Agr 5a ; 23 Int Paper 5a B. . lSIInt Mer M 8 F Z4!raiic Ofl Sa, 11 i Kelly Kprinar 4; Lack Steal 6a . . l'Lorillard 5s 15'Maa Sue d 7a c! 2 Msr OU 7s ctfai Zl do 8s war . 4 Mich St Tel Sa 4 Mkl Rt evt Rs. . UMil Gaa A Lt 4a) 4 Mont Pow lsa, Ssl 4'Worria A Co 4 a) as T Tlat SaA 2 V T Ed ref 6s 3 NT GELHAP p 4sj : tso oa 99 105 91 94 104 1.16 100 93 86 82 83 91 10O 103 108 100 97 94 100 99 108 98 93 104 98 126 110 s 79 38 7 0 108 94 93 107 ei 108 105 108 96 101 106 94 105 lOl 101 116 100 ! S R 101 61 99 93 9V4 i aa,io 98 104 112 122 99 94 99 94 10O -112' 6$ 9 107 7 . 107 ' 161 : 9- 4 3jN X Tel deb a oo sea 4a 20 do reC a .. - 16Nia. Falto Pes hi 1 1 or Aaa Ed Sretai 22 N Stata Pw 1st 61 MS W BeB Tai 7al7 iw oie Ba...-!1S1 . 6. do 2a rcta...j 96 IS Pee Gaa A El fta.f 94 125 Pae TAT ftreta. . S S Packard Mot 8m. .11 Q 7 "A. 17, Pan Aa PtllT Ts; 1 02 1 Phil Co Ml a. :: jjPorte Ricaa Aaaerl 1 To Ba ....... 12iPub Sr N 1 It. ' 14;Punta Aiegrw Sug 101 , a . 108 39 99 'i" 105 91 94 103 115 10O 92 86 82 ! 80 91 99 I 103 108 100 86 94 I 1100 99j 107 98 5 103 98 k26 109 -96 78 t9 87 89 197 B4 91 107 60 108 105 108 96 101 106 94 103 101 101 116 10ft 95 I 98 88 99 3 101 80 0 98 99 108 94 98 103 112 131 99 96 4 94 9 111 8! 99 iL 197 !10 il 6 94 197 101- 3 94 3 10T 103 101 108" 89 89 .... 1 i 103 91 94 103 116 - 100 92 86 82 81 91 99 03 OS 1100 96 94 lOO 99 107 98 95 108 fta 126 " 109 s 79 99 98 81 90 lOS 94 91 107 60 108 105 108 6 161 M 106 4 106 101 101 Tt loe . 95 98 89 99 93 101 81 93 99 109 34 98 , 104 -112 131 99 9 94 9 94 99 112 . 83 99 107 97 i lfllt 11 9 94 1T, 101 . 93 94 8 1T IDS 101 108 89 - I evt deb 7s. .'...lifts 7 3 (Prod A Ret 8a. .1106 i do-Re, war. . . v-.ilia 6 Resaina lst 'OaA.I 98 43)Sin C Oilevt7siie 471 do Ta rcta . . 1101 ; 23 Sharon SU Hp 8a. 1 98 S9.H Port Kic Sg 7sil02 SiSon Bell TAT 5st 97 18'BUnd O Cal db7s163 High. Low. Close. 4 85 1 11 7 4 29 10 7 Tenn Cop 6a . .1193 Tot Lt A Pwr 6s. 1100 Ca Bg A PesctfaTlOO fnl I Vug ... 112 fni Fuel Gaa 6a. i 99 In S 8 Cpftactfai 94 V S Rub 744s. .1107 U S Bub 5s ... 90 V S Steel s f 5s. 108 Utah Pow A L 5s 93 VCaro C 7srctA 98 do 7s ....... 105 do cv 7 44 s A war' 97 IfTSVarn Sug ref 7sl03 u r est tts.i do 6s (112 Westh El 7s. . .1108 C Winch Arm 7s l04 17 Wilson 1st 6s...T02 4 0i Wilson evt a ..I 99 29 do 7a 107 10S 105 B 16' its 103 r 101 7 102 97 105 103 99 100 111 98 94 107 oath 103' 93 98 105 07 102 94 111 108 103 101 98 1107 108 ins 114 98 106 101 97 102 8T 195 103 98 100 111 98 4 44 107 103 93 98 44 105 97 44 103 94 112 108 104 101 A8 U. 107 RAILROAD BONDS 6A T A S F gen 4s) 1 do evt 4s I 1 do adj 4a i 1 At A C A L Ss B 1 A C L 7s 1 AU Yadkin 4s. . . 8 B A O s j 6 do ref 5s 7 do evt 4a . . . 14 do gold 4s .... II do Tol at Cin divj 29 do 3a Swn divj 1913klrn Bap Tr 7. 11 do 7str co ctfs 5 do 7i tr co ctfs st 5Bkln I d El 1st 5s 10;Canada Sou 5s . 17. Can Nor 7s .. . 41 do deb 6 44 s.. 28iCan Pac 4s per. 3 Cent Ry Brazil 7s o en Ga Ky con Ss :HJ A O con 6s. 91 do rfg 6s do evt 6a . . . 45! do evt 4 a lSAjCtL A Alton rfg Ss 28i d 3s 7C B A Q ref 5s 24 C. E. I. 6s. .1 35 Chi. G. W. 4s.. 84 CM. A S.P.c4R 28 do. rfg. 4 s A . 11 do evt. 5s B . . . 21 C. M. A St. P 4s 2 C. M. P. S. 1st 4s 1 C N. W. z. m. 4s 1 do gen. 3 a . 22 Chi. Rys. Co. 5s 79C. R. L rfe. 4s 1 iC. T. H. A S. E. I 1st A ref. 5s. . 84 84 25C. 8tP.M.0.d.5j 97 97 8 do con. 6a j 91 J 91 2:Chie r S 4s. .1 03 44! 93 I I fine V 8t os. . .100 100 Chic 4 W I 7s l02 102 92 86 84 lOO 108 82 . 101 90 86 3 71 93 93 92 89 89 100 114 118 83 91 100 103 86 97 90 62 85 101 84 04 73 68 76 84 74 87 78 82 86 92 86 84 100 168 82 101 OO 86 85 71 93 92 92 hi 89 100 113 .112 83 91 100 1103 97 90 51 34 101 R4 53 72 67 76 84 73 87 78 82 85 2 do con 4s 2CCCASL g m 54s 1 do4s CWAN divl S CIeve Un Tr 5 s 15!Cub R R 5s. . . liDel A Hud evt 5s 1) do 5s 1 do ref 4s 1 Den A R G 4 si 4 do ref 5s 10) do rfg 5s bk cfs 101 do con 4s . . . . 5!Det t'n Rw 4s Erie 1st eon 7s ex do gen In 4s. . . do evt 4aA .... do evt 43B .... do evt 4sD... . . do Gen Riv 6s . 3 Erie A Jersey 6a 4iGd Tmk Can 6a. 20 do 6s 4 do 5a 7 Green Bay A W deb B per. . . . 1 Hav ElByLtAP 5s 19 Hudson A Man ref 5sA 20 do adj inc 5s 2 do 4s 2 Gt Nor 7s. . . . Ill Cent 5 s do 6 s do 4s '52 do 4s '53 Inter Met 4 s. . do ctfs 4 s sta Inter R T c 7s wij do ref 5s do ref 5s b c. . do 6s Int G N adj 6a wi Iowa Cent ref 4 si K C Ft 8 a U ill 4 Kan C So 5s .. 25IL SAMS leb 4s 2(L V of P c 4s 121 Lehigh Valley 6s. 1 Lou A Jef bdg 4si 6L A N unified 4sl 6jL A N 5 s. . . . 9: Louis A N W 5s lOiMsn W. Col 5s 12jMar St Ry con 5s 5 Mil E RAL4s! 78) 78 84 84 83 83 105 88 100 105 87 100 ioi!ioi 10 1 1 5 56 147 23 28 2 15 O I - 27 11M K A T 1st 4s. do 5s Min St L lstrf4s do rfg 5s wi. 101 do 4s ser B 11 do 5s A wi . 85 do adj 5 A wi 21 do 6s C wi . 1 9 Mo Pac 6a . . 49 do gen 4s . . 13'Nassau El 4a. . 10 N O A N E 4 7 N Term 4a 64jN O TAM inv 6s 10 do 6s A 1 N Y Cent con 4s. 311 do -deb 6s 10 NYC A HR 4s. l i do. rfgAimp 4sj 1 do 4s 97 do 5s 1 NYCMC d tr 3 6INYCASU. deb -s 96 82 47 43 78 85 106 54 51 54 54 76 98 113 10. 104 16 89 88 67 95 1113 102 112 80 83 16 16 97 73 72 80 53- 42 i 84 93 94 92 104 84 93 104 77 08 90 106 95 43 44 84 73 87 64 98 102 67 63 85 81 79 102 85 1108 u s 90 90 99 80 89 Ryal 4ai N Y State con 4 a . . . N Y Weetch Boston 4 -. liNAW SR con 261 da evt 8s.. . 37Nor Pae 6a SB. 18 do prior lien 4a 21 do sen Sa .... 71 do ref A Imp 5t HOre til 1st 5s 10O RAN con 4s. 2 Ore S List conOs. 9 do 1st congtd li do rfg 4s . . . liOre W RR J 4a 72 96 82 46 43 78 85 108 54 51 54 54 70 96 113 104 104 13 89 88 66 95 113 102 112 86 83 13 13 97 72 72 80 63 42 82 92 94 ! 02j 103 84 93 104 7T 97 89 06 95 43 44 84 78 87 63 98 102 66 62 85 80 78 102 85 U08 80 90 90 98 80 88 72 123P L M RR 6a etfs 4 Pt R R 7a 20 do -5s . 8 do con 4 s ... 16 do gold 6a .. 0 do g m 4s . . 5 P A E 1st 4. . . 6 Per alar rfg 6a. . 2 do 4s ... . 1 Philip Ry 4a . . -1 TCCAStL 6a A. . 2P R L A P 5s.. 14 6! Reading gen 4a 1 Rich T 1st gtd 6s 12 Rio G A W 1st 4 si 22 do col tr 4a. 9 !8tUM A S sea 5s! 81 St L I Mt ASKi I A Ga div 4i l!St L Rocky MtA 1 Pac 5a - 65 StLASF pr In 4sA si do eB ...... 1 2 1 do gen CsC..., Zl I ee alj ea 101 do ine 6a 56 94 120 109 91 64 99 100 90 105 6ajl05 93 84 75 110 102 101 111 94 80 99 83 51 101 91 88 100 79 69 99 56 94 Sit ds sea 5 sD. 17 SLSW 1st 4s. . . 71 do Term 5s. . . UStPAKCSU 4 s 6ISaa AnAAPlat 4s 19 2 25 25 , 1 8 34 10: 1 ' , S A L gold ata. 4ai do rfg 4a ..... . do adj Sa. . . do cob '- 6a. . . S C A Co R R 1st 5a ..... Sea Pae evt - 3a do evt 4a... . , do rfg 4s ... , do col tr 4s. . . .! do S r Term 4sj 27 36 5 5 tsoa Br m ti do COR do a us Third eve 1st Sa. do "adj 5s 16 . i JltT Asm StL rfg 4sJ To Btu c west 4Um -Pae aa.. do 1st 4s do evt 4a. do rrt 4s. . 12!Y Ry . . 8W o Pa Sa. . . . b 4a. .- . . LErt rf4si 69 STANDARD - OIL 200!Aado Aaa.v OU..1 26 200 Atlantic Loboa... x 9 Cootinental OiL.l4 100 Crescent P. L-..( 17 , 105hio Oil.4.i..i.(09 V 8Ta A ' ; 8 West- 1 :': 8 Wee- iw A 1 56 94 119 1120 109 1.09 90 90 64 I 64 98 i 99 100100 87 37 75 91 102 85 78 97 80 81 86 79 59 44 ,27 68 109 104 93 90 88 84r 71 99 103 99 66 83 76 196 4 S 99 st 86 r st 84 92 86 84 100 108 82 101 90 86 83 71 93 93 92 9 89 100 114 113 83 91 100 103 96, 97 90 51 35 101 84 53 72 67 76 84 73 87 78 82 83 84 97 91 03 44 100 102 78 84 83 105 87 100 44 101 06 82 46 43 78 'i 85 106 54' 51 54 54 76 96 113 104 104 13 89 86 67 95 112 102 112 86 83 15 16 97 72 72 80 63 42 84 92 94 92 103 84 93 104 77 08 90 106 95 43 44 84 -73 87 63 98 102 66 63 85 81 79 102 85 106 80 90 90 99 80 88 72 LUMBER OUTPUT 90 105 105 93 84 75 110 101 101 111 93 80 99 82 51 101 91 85 10O 79 67 99 87 8TH 73 90 lOl 85 7T 97 Tt 81 83 79 57 44 27 67 109 104 92 90 88 84 TI 99 103 99 66 82T4 T6 44 BOS 44 95 99 99 99 87- 94 69 XSSCES ; 39 -9 309 90 105 105 93 84 75 110 102 101 111 94 80 99 82 51 101 91 86 100 79 68 99 87 3T 75 90 101 85 77 97 79 81 85 79 37 44 27 67 100 104 92 90 88 84 Tl 99 193 99 96 82 76 105 4 44 93 89 , 99 -86 87 84 99 20 9 146 87 309 BEHIND ORDERS By j. O. Reyte I Copyright, 1922. by The Journal) New York. Sept. 25. Lumber shipments are falling ateadily behind new orders throogh- ont the United State. -The ring of earpenVj tera hammers ana the buzz of their saws is decreasing ia consequence at a time when every effort is being made by, contractors to ru.- h present jobs to at least partial comple tion before the arrival - of winter weather checks building' activities. Lumber production . in the meantime has been pushed forward until it is well in ad vance of new orders. The falling off in shipments, according to lumbermen, ia di rectly attributable to lack of transportation facilities. Continuation of present building activity at somewhere near the proportions f its present peak would .be a strong factor-in maintaining general prosperity. The effect of the present car shortage and the alowneaa with which loaded cars are being moved to destination oa construction work may be readily gauged by production and shipping figures, received by telegraph within the last 24 hours from every big lumber producing section in the United States. Shipments Behind Production Reports of the "barometer" mills of the soft wood lumber manufacturers show that shipments are down below 85 per cent of pro auction today, whereas production is slightly over 96 per xent of normal capacity, for the year up to the third week of September orders have totaled 8.176.943.823 board feet. In the same period production baa fallen 304. 180,656 feet below orders, shipments have been 161.090,026 feet below production. Lumber Pries Shew Gains The increase In production above new orders has had a decidedly stabilizing effect on lum ber prices, tout that gain -will be lost unless deliveries also can be made to keep pace. The lumber industries of the South have been the principal sufferers ao far from transporta tion difficulties. In that section shipments are down below 80 per-cent of production, and have fallen off at the rate of 3.500.000 feet a week in the face of a production increase of 7.0OO. OO feet a week. Railroads in the Pacific Northwest are grant ing new concessions to shippers of lumber in the matter of storage expansion and reconsigu ment privileges. Southern and Middle West ern producers are making every effort through their freight bureaus to secure like privilege of shipping lumber to' central distributing points for atorage to be later distributed to other points at rates equal to direct carriage from the mills to the final. market point. This would aid, they claim, iu relieving immediate congestion. Freight Problem la Pressing The problem of lumber transportation, both as it affeeta the railroads and building costs, will remain pressing, despite any seasonal falling off - in building activity in the last quarter of this year. The mills of the South are running nearly at full capacity, and the heavy sawing going on in all directions ia eat ing heavily into the supprr of logs. The mills can maintain present production for from two to three years, after which output will decrease until major lumbering operationa no longer would be profitable. In Georgia particularly millmen are drawing on reserve timber lands left virgin for just such demand aa now exists. These will be exhausted in about three years. This future log shortage already haa sent a score of big Southern operators Into the Pa cific Northwest, and such migrations will un doubtedly increase as the Southern pine supply diminishes. Northwest Output Increased Thia move from Southern pine to Douglas fir will increase production in Oregon and Washington, but will place an added burden upon carriers from the Pacific coast eastward, as four fifths of the demand for lumber in this country .comes from east ef the Rockies. Present lumber output is considerably lesa than it was a decade ago, in spits of the increase in building. This is attributed to the fact that longer freight hauls ' have added suffi ciently to costs to induce the. use of substi tutes. Lumber prices have shown no extraordinary increases, in spite of freight conditions, and individual producers are making every effort to hold costs and prices down in order notv to check d jmand. This they hope to accompQsh by increasing production. But lt ia the con census of opinion by experta throughout the country that a 83,000.000.000 building pro gram will materialise in 1923. ' Unless de livery aa well as production is materially im proved, that program, will be checked and the general level of lumber prices will inevitably increase. New Orleans. Sept. 25. Southern railroads claim today that Northern roads are refusing to return their lumber cars. Lumbermen's as sociations are making ienuous efforts to get more cars so they can nKve long delayed ship ments. No improvement in the car situation baa been noted aa yet. CANNED GOODS Chicago. Sept. 25. There is a strong in quiry in- this market today for fancy canned tomatoes, which brokers find it bard to sup ply. The entire pack of Wisconsin corn, which is about only 20 per cent of normal, is reported to have been sold. Important sales of Indiana fancy corn are reported today at 31.10 f. o. b. cannery. WHEAT Oklahoma City, Sept. 25. Oklahoma's wheat crop this year was estimated today at 24,647,000 bushels, which, according to wheat acreage, is" an average of 8.7 bushels to the acre, the lowest since lBll. ' The oats yield is estimated at 32.f47.000 bushels, or 8,000,000 bushels leas than last year. SILK Chicago. Sept. 25. A large volume of busi ness is being done today in silk dress goods in this market, with an exceptionally strong de mand for chiffon dress velvets. GLASSWARE Parker's Landing. Pa.. Sept. 25. The Wightman Bottling A Glaas company, which suspended operationa July 25, has resumed operations. Its plant is working in full today. NUTS Atlanta, Ga.. Sept 25. Peanut growers of South Georgia have been bit hard by the Fordney tariff law. and determined today to form a cooperative selling organization similar to the California Growers' exchange, in an ef fort to realize more for their crops. STEEL Cleveland, Ohio, Sept. 28, The or move ment from Upper Lake porta to Ohio furnaces today ia falling slightly abort of early esti mates, aa some furnaces ate cutting down ore requirements. Up to September 1 of this year, the Lake fleet moved 26,850,939 tons of ore. sn increase of over 11.600,000 tons from the corresponding period of last year. Yonngstown, Ohio, Sept. 25. The Republic Iron A Steel company is today preparing its fifth furnace in the Raseltoa group for oper ations. Its Ilanna stack is also being made ready for firing. - . HIDES . . Chicago, Sept. 26. The stocks of hides in the Chicago mark eta today ere wsi sold out. The liberal movement of branded stock last week - proved to have a dep raising effect on the market to some decree, although sellers are generally getting the prises aaked. Price levels are expected to hold up well despite the increasing influx of cattle. . PAPER Altoona. Pa. Sept. , 25. The D. K. Bare Paper company aad the Roaring Run Book company have notified - their employee that wages will be increased October 1. About 400 men are affected. i ' , LARD Chicago, Sept. 25. Trading in lard nee been somewhat small in quantity ta the last few days, bat the market'a ten ia firm, re flecting the recent sdvancaa in grain and the firm neaa in hogs. Export shipments today are small ia coaiparisou with those ef last ' ' " COAL : '-. - Pittsburg. Pa.. Sept . 28. Coal Is selling here today a S3 a. ton.- Each day brings ad ditional supphaa, aad with greater assurance that the railroads eaa handle prodncttea ; the offerings of the mines - will iacreaaa. - BCTLDTN-G MATERIALS Atlanta. Sept. 23,-r BuiWing Bute-rial to day hav a tendency toward huthar prieea. ; bwt tho tevasvt , continues to bo strong and healthy. - - ' ' ' 435'Imp. O. of Can. lftilnd. P. L.. .. . .. 40 lot. P. Co. Ltd. ; S 5 Prairie P L. ... . 20ISL- Peea. Oil.... 1330913.-O. lad...... 1100(8.. O. Ky., 20 S. O, -. 275;i. , 200jV o. Si. Y... Oil.-.. 113 98 F 21 t2T9 . 208 11S 109 6ft0 - 503 J519 112 98 21 269 295 117 197 599 498 1593 1112 98 21 !2 208 117 198 9O0 H99 119 " WALL STREET STOCK QUOTATIONS , Reported by Cerbeek A Cooie.C. Board el Trade BullUtoc . . - Br William F. Heffeman ' 1 Jfaw Tork, Sent. ti The , tetter feeling- over ,; the ' political ; sltaatlon abroad, conpled with: the aerantul&Uon, ef large baying orders over the week 4 ead brossrht about a a-eaeraljjr strong snarket a the Cart) Exchange today; j The Standard Oil ef Indiana me fed sympathetically with standard of Sew jersey and Standard ef California on tae stock, exchange. Standard Oil of Sew .Tork, the Kentucky shares. Im perial OU of Canada aad Vac nam Oil all west alons; In the advance. i Gnlf Oil Issues were ceasplenonsly weak on the absence of confirmation Of the stories of a deal, which were back of the rise last week. A few sales of Gilf Oil old stock were re ported at 7(9, a sheer rdrop of 48 points front the last previous trans action. -The stock had a proportion ately severe deellne. Reports that an other large oil interest was baying Into the company was the cause of the strength In Hut sal OIL Simms pe t role am also was la better demand, i Timken Boiler Bearing-, taking Into account the 73c dividend recently paid, sold at an equivalent of Its subscrip tion price, which was It. This stock will be transferred to the stock ex change - list on Wednesday. . Hayes Wheel waa bought In anticipation of an lacrease In the dividend to S per cent at the meeting- of directors n Tuesday. Dnrant Motors was heavily traded in, bat with realising sales predominating over fresh, baying. Rales. J Stock. Sales, i STOCK High. Low. 200 1500 30O 7300 1700 900 ' 'ioo 800 1500 300 "266 300 1300 500 1400 300 1300 166 1900 600 200 1700 4600 900 100 -ituiAm 3400!Ant 500 400 3400 Adams Kxpress Advance Rum do nf d ..... Agr Chem . . . Ajax Rubber ., Alaska Gold . . Alaska Juneau . Allied Chera . . Allls-Chalmers . do pfd ..... Am Beet 8ugar Am . Busch Am Can Co . . do pfd Am Car A Fdy .do pfd Am Cot" Oil . do pfd Am lirug Snd Am Hide A Leath do pfd Am Ice Am Intl Corp . . . Am Linseed . . . pfd Loco pfd 8af Razor . . Ship A Com . Smelter . . . pfd Austin Nichols. . Am Steel Fdy . . Sugar pfd Sumatra Tel A Tel . . Tobacco. . . Tobacco "B" Wool pfd W P Zinc. do Am do Am Am Am do Am do pfd. Am Am Am do 600Am 10O1 Am 8000,'Anaconda 200Assd Oil 2800AtchMon i do pfd 1000 Atlantic Coast LiillOTs IOOUIAU. Gulf & W II 31 79 14 1 83 55 "43" " 41 0 i88 '27 70 114 85 38 68 123 - j 22 62 103 87 44 79 110 40 122 163 150 99 14 1 83 55 "45' 41 59 188 " "27 70 113 85 37 57 122 6 21 Bl 108 37 44 79 110 40 121 161 138 98 35 84 19 10 54 I 53 122 1110 106 106 18500jBaldwin Loco. do rjfd SOOOIBatto A Ohio. . . do irfd S300:Baru.dcll Cor A do B Beth Steel "B". Booth Fish .... 2600 100 140OIB R T 600 Butte C A Z. . . . 200 Bntte A Sup. . . . 1300 Burns Bros "A". 700 do "B" 100 Caddo Oil 200Calif Pack SOOOICalif Pet I do pfd 2100 Callahan Z A L. 1 700 Canadian Pae 1600 Cen Leather 1800 Cerro de Pasco . 220OChandler Motor. . 14O0ICh A N W . . . SOOtChicago Gt W. . . 13001 do pfd 400OChili cop 400Chino 1000IC M St P ..... . 2001 do pfd. . .- eBOOlCoco Cola 1200JC AO 300Colo F A I ..... K'olo Southern . . . BOOIColumbia Graph.. 5200Col Gas A Elec. 8 5 00 (Con Gas llOOICons Cigars I do pfd 400 Cons Textile . . . . 4300lContl fan 1200 Corn Prod I do pfd . S00Co-den Oil..... 20700C R I A P sou do "A" pfd 135 56 118 29 133 55 300 2300 300 700 2100 do' "B" pfd Crucible do pfd Cuba Cane . . do pfd Cuban Amn Sugarl 4300!Davison Chem 100 Del A. Hudson. . . 400 Del A Lack 1600 Dome Alines .... 800 Eleo Stor Battery 2ft0IEndicott Johnson 2800IErie 9001 do 1st pfd 15001 Famous Player. . . IFed Min A Smelt lOO do pfd . . Cen Cigars 600ten Elec . 920OGen Motor I do 8 S800IGen Asphalt . . . . . . . . Glidden Paint. . . S0d Goodrich TAR. Glen Alden 400IGranby llOOIGreat Nor Ore.. lOOOGreet Nor pfd . . . 100Greene Cananea.. 1920O!Gulf 8 8teel 2 5 00! Houston Oil 1400Hupp Motor 40 76 . 24 7 32 137 48 11 84 65! 9 14Z 42 39 61 93 6 13 26 30 33- 51 71 75 34 "3 112 141 39 89 117 50 45 102 93 90 14 36 23 52 136 134 39 53 86 15 25 98 60 ' 4JI8J7 TS 64 34 32 " 89 93 94 81 23 38 75 9 .24 7 32 137 47 10 84 ejL 140 41 88 60 92 6 15 23 29 32 50 69 74 34 "3 110 139 38 87 118 60 43 101 92 89 . ii" 36 23 51 136 133 38 50 86 15 24 97 eo" 179 14 63 34' 81 39 93 81 91 79 22 Bid. 78 18 65 88 14 1 83 55 100 43 41 r.9 108 186 120 27 53 6 13 69 112 34 37 58 122 ' 118 6 21 61 102 37 44 79 110 40 121 161 138 98 107 34 19 53 120 105 91 119 30 133. 115 55 65 39 26 75 9 24 7 82 187 47 10 83 63 "9 14 42 88 60 92 6 15 23 29 33 50 70 74 33 4A ' 3 111 139 38 78 10 83 117 118 60 43 101 92 89 93 13 86 22 61 136 133 38 63 85 15 24 97 12 60 80 178 14 84 68 14 33 57 81 39 93 31 91 80 22 ORDAW-WENTWOrTTH & 201 Kailway Lxchtmgm leather Chicago Board of Trade STOCKS BONDS V GRAIN C01T03 PKITAT LKAJSBJ) WIBES TO. E.F. Hutton & Co, BEXBKKS ALL PHTXCLPAI, t EXCHAirOE9 ( Solicit Iaqnlrie Ail Leeal Seennties Printing ForEveJjr . Purpose : . V V " : ' EW.Baltes & Company Tj aFTR3T AND OAK A AAAAVUa Broadway 49 43 IOO, Ills Cent ...... 2 OO; inspiration ..... ... . . tint Agr Corp c . .... . do pfd ....... 100Interboro ...... . . do pfd j S00!tnt Harv ... 4O0Int Met Marine. 1200 do pfd 1300, Int Nickel V. ... SJOO Int Paper ..... 4800Invincibl Oil . . . 301jL-land Oil SOOiJewel Tea ...... . 300iK C Southern... I do pfd ....... 300Kayser J ...... 5Mjhily-SpefM . . . . lSOOiKenaecott ...... 3 001 Keystone Tire . . . lh00Lack Steel .... leOjLee Tire ...... 3209iLebigh Valley ... .... . jLoriilard . , . . . . S600jLbew Theatres .. . 2200!L4ma Loco ...... ISOOjHarland Oil SOOiMax Motor A ... 1200j do B . . 4O0May Stores ..... 22100!Mex Pet 14 00; Mex Seaboard M JHtOiiliami . . .. 220OMid States Oil . 24 00 Mid rale Steel . 800 jM K A T 9Yi . 800Msck. Truck . . . . . . .Mont Power .. 250Mont "Ward .. . 1OO0 Mo Pac 800 do pfd . . . . .jM St P A S 8 Natl Biscuit . . 4000jNatl Enamel .. 300) NaU Lead ; liOOtN'evada Cons .. 40001 New Haven .. . ISOOiNorfolk AW.. 2300Nor Am 1800!Nor Pac iNova Scotia Steel 800 ,N. Y. Airbrake. 2700SN. Y. Central.. 6300Ok!a. Prod., ref. lOOOOlOrpheum lOOjOntario A W. . lOOjOtia Steel lOOlPacific IJev 2500 P. O. A Elec. . 10060!Pacific Oil. 1 High. 1 I -aw. Bid. 113 49 "i 109 58 17 58 19 19 23 46' 43 33 S 82 26 69 21 j 00 41 58 19 133 189 21 28 I8 35 18 57 73 ' 23 22 60 113 40 8000 Pan. 2100 1700: 200 400 900 Pet. Steel. A. do "B' iPenna iPenna Sea Peo Gaa IPere Marquette . . PhiUdelphis Co. . 210O;Phil!ips Pete . . . 400iPierce Arrow . . . SOOjPierce Oil ...... 900 Pitts Coal 100Pitts A W Va 600 P Steel Car HOOjPunta Alegre . . 1900Pullman 7100Pure Oil 3000Ray Cons 2100Reading i Remington 25O0iKeplogle Steel . . 2 7 0O Rep I A 8 200j do pfd 300iRcp Mrtors 4200 Royal Dutch Oil. 100Ry Steel Spg... 2200Saxon Motors lOOOjSears Roebuck . . SOftiShattuck A Aria. 100 8hell T A T 17900ISinclair ISlose-Shhef . . .-. . 1500 8 Pacific ...... 2300 200 25300 14400 18500 300 6600 Son Ry do pfd Stand OU Cal. S O Ind S O N J .... S O Ky . a. . 4 KtLiSF .. Strom Carb . . . Studebaker . . Swift A Co Tenn Cop A Chem: 1UH 63 106 -16 31 120 96 87 89 98 2 26 25 11 5 s87 SI 79 75 48 6 95 45 " 52 18 6 69 37 90 47 133 88 15 78 "35" 67 91 8 59 117 4 90 10 40 34 '94 25 63 118 118 199 108 28 128 48 15 109 "58" 17 i 57 15 18 23 45 ; 43 i ! 68 20 69 49 SS 18 132 14 20 28 18 34 18 57 73 22 22 69 62 105 16 30 119 94 86 38 98 2 24 23 11 6 86 56 78 73 48 6 95 '44-'' 50 69 47 80 46 182 32 15 78 'S3 68 91 3 58 117 4 89 10 40 34 "94 25 63 116 117 196 107 28 126 47 11 4 9 36 1. . 108 14 57 17 ST 15 18 23 65 -43 43 33 8 81 25 174 21 69 40 67 18 1SS 188 21 2S 13 84 18 57 . TS 22H 22 59 70 148 62 103 16 80 120 95 86 36 38 98 2 25 125 T , . - S 86 57 78 74 48 6 95 37 44 51 13 6 69 ST 89 46 132 32 15 78 38 34 66 90 8 59 118 4 89 10 39 34 47 94 25 62 117 117 197 107 29 52 126 108 9 47 iQverbeck & Cooke Co.1 BROKERS Members Chicago Board at Trees, Beard of Trade BWg 'Portland. ' Pendletom Ore Walla Waits. STOCKS, BONDS. BRAIN AND COTTOH DIKECT PBJ VATK WtBES Logan & Bryan HEW TOBK AJTT CHICAGO stale STOtKS: Ittiga. I Ixrw. I Bid. - 500 1200 Texaa Pac ..... Tex Pa C A Ol SluOiTob Products ' 2400 Traa ConU Oil 400 I nioo Oil Del.' . . , 800 t-nion Pae ..... , . . . T nited Alloy . . . . , . . . . rnited Drug . .". lOOO United Food Prod 400 United Frail 400 United Kda of N , J jvv ao ptu ....... 750O U R .Stores .... .....US C 1 Pipe.... 1200 11 8 Ind -Alcohol. 8400 U 8 Rubber . .. , lOO do 1st pfd . . . . ; ' , . i . U H Smeltlne 15200)U teet ...... 200 do Did 1200Utah C-Jjiper .. . , IV Chem ....... .;...) do pfd 620OiVan Steel ...... lOOVirandou IgOOWaba ........ 90O do A' pfd do B pfd . . . . v - Wella Fargon. . . . ... i , . Western Pae . . . . , . i . . do ifd' ........ lOOfWestern Union . . 200WeaUngh'ae A B. llOO do E A M (West Md ....... 7001 White EatTle OU.. SOOtWhiU Motors . . . 4600 Wfllys-OverUnd . . 2500 do pfd 700 Vilon Packing .. Wis Central . . . . . 200 Woolworth . . . . . 0 T29 23 23- ' 64 68 14 18 19 19 161 159 : We" Hi" 148" : 13 13 33 32 -83 89 65 5 51 61 a 'o'w w-O 9 104 V,' 193 : 122 122- 98 67 ' "49 "is "i2 "is"" 82 S "98 '62 "i'" "" 42 40 47 4T ! l '..III 29 23 -64 13 18 I SO 37 80 1A( IS J ss : 83 31 65 31 97 38 , LOS la 122 67 26 -65 47 18 -12 32 21 79 17 63 63 14 31 49 . 41 47 29 BA'K Clearings. Balances . COAST STATEMENT OF Portland Banks '-- . f h V 1922 Men.; .8 9.268.557 S 1.619.3H0 aajt veaflkstee. Banks Clearings Monday. . . . ...... ,$27,006,090' ' . - aaaute 9isnka OeariagsrTMonday . 0.14A.OOS 2.321.429 . Oakland Banks ' Clearinca Monday . . .3 3.917.809 Laa Ansalee Banks Cearmga, Monday t 7 31T.976.947 Tacama Stank a Monday's transaction ......,.$ 2.625.006 1921 5.579.509 1.446, 16J Money and Kxranbge f -Nw York. Sept. SS. !. 8.1 CaU money on the flnr ef the New . York Stock Exchange today ruled at 5 per cent: high. S per cent: kwv4 per cent. Time money waa quiet. Rates Wera 4 a 4 per cent. The mar ket for prime mercantile paper waa qntet. Call money in London today aaa. 1 per cent. Sterling exchange waa quiet with busineaa ta bankers' bill at -fit fur demand. Foreign Exchange Market New York. Sent. P. ) -Foreign exchange .opened firm. Sterling. $4.42 S. up e; franca.. .0788 .ip 7i lire. .0434. up 2 : marks, .0907, - - Foreign exchange closed easier. Sterling. ' 34.41: franca. .9761; tire. .04.13; marks. .0007 i . ; , .v t Bank DepoaclU Show Increase Eatonrille, Wash., Sept. 23. The report of the Eaton villa State bank, Just issued, shows the depoaiu- to have increased from, SITO.136.28 to 8181,703.97. The Cudahy Packing Company Sinking Fund 5 V2 Gold Debentures Price 100 These debentures will be a direct obligation of the company, and will constitute its only funded debt, except the first closed Mortgage (dated Decem ber 1, 1916, due December t, 1946), of which there are now outstanding $10,649,500 par value of bonds. i- Under the Debenture' Agreement, the Company will covenant, among other things, that so long as these debentures are outstanding : - (1) It will not place any new mortgage on its present ' properties; - ' (2) It will, at all times, maintain its net current assets at an aggregate amount equal to at least. 1V times the par amount of these debentures then outstanding; U4- (3) It will not pay any dividend on the Company's- stocks which would reduce the Company's nef current assets toan amount less than Vi times the par amount of these debentures then out standing. - ' ,-' . . ' "- ' . T . We recommend these Debentures for Investment. . BLYTH.WlTTR.&Ca Fourth and Stark, Portland 'r. s Broadway, 6481 I. 1. ; " ; San Franelseo Los Angeles 3few Tork Chicago . Seattle t - Portland IBiaal ' . .- -. - . ' ':- .iv- . . x v .- -i- " . ' ' M.'s-&,t-i&.'V" , . poEAl ! - :." c-: i ..... j C.u i - - .""emi-'-- j- aaanx-- ,. .- . .... ,.. . 'tiitnir , ,..wsJy9la9iWslte , - j , . jjto-.' ni-jij-.j-j .fi.-ffsr9Qsstt-- ' J: "''" .4 ' ' : : 1 I ' "BSv i .. .-. .'7-. .." . - - . w ' jcv sz r t5" 3 .These BONDS $100. $500 $1000 -Dens.; Dated Oct. 2, 1922 Due Oct. 2, 1932 Semi-annual interest : Principal and ; InterestPayable in U. S. Gold Company Pays U. Se Income Tax .Up, to 2 Phone, Call , or Write for Fall Details 555,250,000 feet of merchantable timber. . 3400,000 mill at New Westminster, B. C. c (property untaxed). Sinking: fund of $1.50 per M feet, with $30,000 annual minimum .paymeht. One-half of loan goes back into property, for equipment and becomes additional se curity. , Annual net profits from 1906 to 1920 aver aged - $33,340 company bought logs and conserved its,own. - Total assets $2,310,416. Current liabilities . ; none. - -; n Estimated earnings during life of this loan -: $1,400,000. : . A Strikingly Strong Investment, Price 100 to Yield iLUIVnUBiB ' BROADWAY AND OAK