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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Oct. 11, 1922)
.'. THE 'OREGON DAILY JOURNAL, PORTLAND, ? OREGON. WEDNESDAY, OCTOBER ll, , 1922. MELON CUTTING SECURITIES , CONTINUE BIG FEATURE IN NEW YORK FINANCIAL TRANSACTIONS FOR DAY 20 SPECIALTY STOEK LIST IS HIGHER 1 By Stuart P. Wist. M mil Street.. New Ywk. Oci. ll. Interest in the meffcefc ' toJy azaia fconveraeii 1POn th , rj,e stock exchange. In other directiona the rice . movement u ?rnn and unirnportant. (numvh es the Turk ish matter, beeinning a week aeo, bad ceased to (-rasion Miimu unesi i e i-, the formal sicn ;r.c of the armistice I mt.-wc.l had little it frrt. Hterling exchange cot fh"c $4.43 tand con tinental rate?. Inclod in (ifrmin mark, nre ' rusher. These rlRze. along with r"msthat hisher quo tations for European EPTemment bonds, -was all the re?rise there km to the peace agree- rnrt. Special Stack Movements. I The -stork market. followiri the modem diay jnethod of procedure. ratlier a eol lctktn rf precial mfwemenM for ' special cause1? than any general Mrin. Fully 'half, ifi n.t mere than half, of the list ms neg lected. There wu little tendency one way er the oilier. But in the stocks which did disuse, these changes wre moetly upward and ii-oluded a number of rapii advances. Sriecu latire im.ig nati. n whrch has been conjuring op tr-ek d:rid-ai inolvina the splittinc P rac-iral arcrmnt m naturally stimulated hy the bis ftock Tii rib'.itiwn anrmumsed overnight by: the National Biscuit craipany. fono.rd by a i similar i claratinn this rooming by the American Rart ator company. Bitcuit Hands Melon. JBoth. "f thew actions had been foreshad , owed aiid pretty well din;nte4 by the ex- tertaiv ri.-es irhicli their stocks hare had dur inej the la.-t fw weeks. But on the rest of the taarket the effect -was to quicken the search for t!ie stocks cf other companies whose trtasurv a-sset and earning powec were such as to justify similar disburse ment. ' Most of the principal ,indivtonVl npturns were explained by the niecolative community ch the ground of possible 'meion -cutting." Apparently this was the incentive back of the spectacular adranee' in Mexican Petroleum and the ' Pan-Americana. It. furnished the motiTe, also, for the rise in such stocks as American Woolen and National Lead. i At the oitfet these demonstrations inti mated the short interest in ether of the (highly sienUtiv tndtnli. and stocks like (Baldwin Loeomottire and Stndebaker were hid tip a point to two jointa. But these advances were not well aujstained- Genarajl Trad Irregular. In the aftetrioon the general market be came Tery irregular again, reflecting the con fusion and at ithe same tirne caution, in spired by the violent performances In these high priced andi easily manipulated industrial specialties. - The' weekjy steel reviews threw Ten lfttle light upon the business movement in general. 0 The important point was that the revival which started with the ( termination of the coal strikes ha been maintained with a further slight increase daring the past week, in pro duction, and this is the more notable in view of the difficulties experienced to some sec tions for want of cars. With the Increase in steel output steel prices have stopped going up and. in fact, ' there has been some aha dinar. The day's operation in stocks bore the marks of professional origin plamtly. The same coterie who booght in the forenoon were to s large extent the sellers of the afternoon. . As a result early leaders bad a sharp recoil in the last hour. Big Standard Melon The most important item in today's finan cial news did not become known until some time after the cWse of-the markets." This was , the proposed increase from $110,000.00 to 25.000:000 in the capital of the Standard Oil of New Jersey and the subsequent pay raent to shareholders of a 40O per. cent divi : dend in stocks. How far this extraordinary t gratuity baa been measured by the 50 point s. rise within the last fortnight remains to be : seen. But this action by the New Jersey com pany throws the other Standard Oil disburse ments of but week quite in the shade. The stock market closed irregularly, but most pert steady with Standard Oil of New Jersey and Stndebaker in particular demand. WALL STREET STOCK QUOTATIONS j Beportad sry Jwrbek es Cooke Co., Board f Trade BulkUa Seles. Stocks. I High ; lUew. f Bid. 4MM 6H SOOiAdama Express . . .Advance Knm f.. do pfd . . . Asr Chera ... I do pfd ...... . . . iJrjsx Bubber . . 4001AI inld . . . Alaska Juneau . Allied Chem . . Al!is-lhaimen do pfJ Reet Sugar Bosch Cm.n Co . . . pfd C k. T... Pfd Cot Oil . s. pfd Drug' Synd H I. . 600 (Am SOOAm 3900 Am do 800 400 100 100 Am do Am 'do Am Am T . . . j do pfd OOIAm Ice 25fOiAm 700 Am do Am do Am Am 1 1500 1300 'R0O 180iAm lOO do Intl 'Corp. I.inseed . . . pfd I.oco pfd . . Haf Rasor : . Ship & Com .Smelter pfd 4 Vi 15 57 45 Vt 1M 20 115'S 88 Vt 54 15 2500 Austin Nichols . . BANK STATEMENT OF Portland Banks Clearing Mon, . . t 7.518.729 1 .433,607 5,089.780 1.219.060 7.729JS20 872.575 Balances.. Mob. . . , Clearings Tues. . . Balances Tues. . . Clearings 'Wed. Balances Wed, . . San Francisco Clearing Wednesday Oakland Banks Clsrt"a Wednesday COAST 7.524,505 1,270,284 5,918.874 1.002.847 Holiday Holiday .$29JI0O.ftO0 . $ 2,683,500 Los. Angeles Banks. Clearings Wednesday $17,851,314 Tacoma Banks Wednesday's transactions Seattle Banks. Clearing Wednesday ...$ 5,987.256 Balances Wednesday , . . r 736,189 . .$ 3,582,000 . TAKCOCTEB THIEVES BOtD ' Vancouver, Wash., Oct. 11. G. W. Jwry, No. 713; West Sevesnth street, reported & bicycle stolen from his yard Monday nlsht. ' An. attempt was made last night to enter the filling station of Burnett & Hull, at 2 2d and Main . streets, by prying up:a ;-window with a Jeaf from at buggy spring. Federal Land Bank 4i2 and STo' Bonds i Exempt from Federal,, State, Municipal and Local Taxation. Prices on Application Hie National City Company Offices la mere tkaa ( cities Yeon Bldg Portland Telephone T 6072 Main OftDAW'WEWTWORTH & g ZOl tiauway Hxcnangm ICtakM Ckks4Bear t Timae STOCKS a BONDS 1 GHAirjOTTOS PRIVATE LEASED AVI&ES TO R F. Huttbn & Co, MEMBERS ALL PRITTCIPAi Solicit latralrles AU ' BeorlUaa Am Steel Fdj Am Sugar do pfd Am Sumatra . . . Am Tel A Tel . . Am Tobacco . . . Am Tobacco "B". Am Wool do I'fd .'. Am W P pfd . . . Am Zinc ...... Anaconda - Ass'd Oil Atchison do pfd AU Coast L,lne . . Atl (Julf A W I. Baldwin Loco . . . do pfd B O do ifd Barnsdell Cor "A" do "B" Beth Steel "B". . Booth Fish B R T C A Z Butte & Mup . . . Burns Bros "A". do "B" Caddo Oil Calif Packing . . . Calif Pet do. pfd -j. . Cai Zinc A Lead Canadian Pac . . . Cent Leather . . . Cerro de Pasco . . 1390 Chandler Motor. . 15A)0 Chicago at N W. . Ch.cagx Ot W.. 4O0I do pfd 3000 Chili Cop ...... 400Chino 1800 C M A St P. . . 3800j do pfd 600!f'oco Cola 2100IC AO 700lOolo F A I 1400Colo Southern... lOOOlCol Gas & Elec.. 4300jCjlumbia Graph. 3200'Con Gas 180iCons Ciears 2001 do pfd. ISOOICona Textile ... SOOiContl Can 700Corn Prod 10OI do pfd 4800!CoLden Oil 6300 C SUP 200 do pfd 100 do "B-" pfd . . . 6400iCrudble 2800 llOO 100 300 2600 500 '6500 5O0 3300 400 79"0 300 4O0 400 12200 '37n6 J0O 1200 "2066 400 20400i 400 Butte 1000, 900 100 300 1700 300 230O 4O00 4100 100 2200 5000 2600 2700 3600 do pfd Cuba Cane do pfd . . Cuban Am Sugar Dariaon ('hem Del A Lack 7 1 21 : 61 K "is" 44 81 123V 113 4 102 H 19 124 ' 107 2 121 80 139 ' 56 H 37 76 H 8H 164 7 S3 H 48H 84 14 64 H 97 Vi 9Vi 148 40 H 40 62 93 'lis 26 29 33 H 51. 774 74 49" ' 109H 3 140 40 '4 82H 104 90 124 H 45 100 '88 84 H 87 44 194 '23 114 35 38 60 2 54 37 H 14 67 V, 1 83 o 4 101 4 43 40 6s 1104 1M 1214 25 4 52 64 134 69 4 113 364 38 57 1314-132 4 121 20 4 60 4 83 4 44 4 SO, 128 1624 ioi" 184 121 4 106 4 024 120 4 30 4 137 4 55 ' ' '37" '75' " 84 14 4 74 33 '464 '3 4 63 4 96 84 146 4 38 4 89 4 614 92 14 4 25 4 284 32 4 50 4 76 4 73 4 is" " 108 4 2 4 1384 89 4 82 104 (- 89 122 4 43 4 100 '86 4 144 38 4 23 4 46 1414 89 65. 4 88 4 16 4 25 4 07 4 4 1 109 4 14 4 62 4 164 61 16 4 194 23 4 4oW 42 4 844 83 4 26 69 4 214 138 4 39 4 2300!Dome Mines 20O0Klec 8 tor Battery 1000Endicott Johnson 2100Erie 800 do 1st pfd. . . . 1400lFsmous Players. . I Fed Min A Smlt 100- do pfd . . . . 100Fisk Tire .. 400 Gen Cigars .... 80 4 wuojuen. Elec 183 7UJ Gen Motor 15 . - ,-. . i do 6 per cent SSOO'Gen Asphalt ...1 64 4 iuu;iUdden Paint .. 13 4 a o (Goodrich T A R 84 1000:Granby 814 27O0Gt JJor Ore.... 394 SlOOiGt Nor pfd .... 94 4 iuuGreene Cananea 2700.;ulf S Steel . . 2200 Houston Oil ... . 89 4 2800iHupp Motor ... 22 4 1600nia Cent 114 4 vuuj inspiration .... !lnt Agr Chem. I do pfd 4 200:Interboro 6300j do pfd 500Int- Harv ..... 700;lnt Mer Marine 20001 do pfd ISOOtint Nickel 3100;int Paper do pfd 4200jlnvincible Oil . . S 100 Island OU 1000; Jewel Tea 3200 K O Southern... ..... I do pfd 400iKayser J 700 KeUy-Spgfkl 1200 KemiecoU eoOjKeystone Tire. . . 2500Lack Steel. ...... lOOlIee Tire 7400Lehigh Valleiy. . . 200 LorUlard . A 4600 Loew Theatres. . . 700 L. A N iU M. A. Loco. . 1900iMarlartd OU 600;Haxwell M. "A" 1000 do "B" 900May Stores 764O0iMex. Pet 11800 Mex. Seaboard... 400 MUmi 7200 Mid. States Oil.. 1860O Midvale Steel. . . . . M.- K. AT. Wi. 1100 Mack Truck 600liont. Power 600 Mont Ward 1400Mo. Pac 2000 do pfd !M. St. P. ASBU. 240Oat. Biscuit.. 290 Nat Enamel 4000 Nat Lead 600 Nevada Cob 5700 New Haven 5000 Norfolk W 4 900 Nor. American 2 TOO Nor. Pae 400 Nora Scotia Steel. 8001 N. T. Air Brake ojo.. i. Central... 900Okla Prod ref . . . 1 lOOIOrpheum ........ 400 Onurio W ... lOOIOtis 8teel 4800Pacifle Dev fiOOiPac Gaa Elec . 9500 Pacific Oil 770O0Pan Am Pet ... . 325001 do B SSOOlPenn S800!Penn Sea Steel .. 2001 Peoples Gas . -1300, Pens' Msrq . . . . iPhila Co ....... 5000PhiUips Tete 1 OOiPierce Arrow . . . . 3 40W Pierce Oil 1200 Pitts Coal lOOiPitta c West Va. 20OiPTessd &'U Car.. 1800 Pun ta Akegre 1300jP3lbaan 2SO0 Pure Oil 600iRay Cons IStJOO Reading i 100 Remington i4200iReplos:le Steel ... 3100;Rep I A 8 i I do pfd . , 200! Rep Motors 4100 Royal Dutch Oil . !R Steel Sun. :1200iSaxoa Motors .. . ,O0 Sears Roebork . ; 1 . . .jShattaek A Arss. 100 Shell TAT.... 39500'Sinclair ISloss Shef 16200 Son Pacific .... SSOOiSan Ry .. ISUnd Oil N T. lJOOQiStand Oil Cat ... ...... (Stand Oil lnd . . eiOOOIStand Oil N . . Stand Oil Ky . . . Spools L A S-F iSOOIstromfwre Car . 3000 Stndebaker . i . . . iSwift & Co . . . . iSOOiTenn jln A Chm SOOOOiTexas Oil ...... ;9 00 Texas Pac SSflAfTes Pac C A O. 10i0!Tob Pcodocts . 160O'Tran Coat! Oil . . 40nri Be- A Pane. 1400;rnio OU Del... 104!I ntoo Pac 20'l nited AJJojr . , 40jtiuted Urns .... 14 374 32 4 44 1894 88 4 .64 4 -85 4 154 24 98 4 53 41 58 4 T94 183 144 ' 63 ' ' 134 334 31 384 03 4 1874 205 4 17 4 184 35 4 584 72 4 214 21 4 B94 211 14 65 4 1144 16 30 4 122 4 100 4 86 4 88 4 T4 8 4 234 24 4 11 84 85 4 674 90 89 4 484 64 97 4 ! 884 62 " " "64 60 4 884 21 4 114 4 4 4 108 4 144 60 164 59 4 164 19 4 23 4 '44 4 42 84 4 ' 82 4 26 68 4 '264 1874 89" 484 1294 SI 4 144 SO 4 88 H 34 4 60 4 58 4 r'4 4 89 4 AS 4 sis" 24 is 2414 28 136 4 514 SO . 2 614 144 72 164 152 4 136 1964 15 4 'is" 84 4 72 214 21 4 68 4 204 64 H 1124 154 SO 4 120 97 4 86 H 38 S7 TX '24 4 24 4 11 .24 85 56 4 es 84 484 4 97 H 874 50 4 '4 894 474 128. 814 14 4 784 854 33 69 67 4 "4 4 88-4 4 4 26 4 126 4 s ft 23S 284 133 4 54 24 5 4 61 144 Tl 4 18 ISO - 64 21 60 4 99 34 4 '44 4 80 108 38 . 1234 160 157 4 101 4 108 83 184 514 121 10T 92 4 120 4 804 1384 110 .15 4 64 37 25 754 84 154 74 334 135 4 7 11 84 63 96 8 4 147 39 394 62 4 92 04 14 4 25 S 28 4 82 4 60 4 76 4 73 4 32 484 10S 4 24 138 4 89 4 81 4 104 89 , 123 Ti 119 4 46 4 43 4 09 4 91 4 87 98 14 4 384 22 4 454 140 38 4 H4 4 85 4 15 4 24 4 96 4 12 4 68 . 12 4 79 H 181 4 I 4 4 83 4 13 4 83 4 31 34 93 4 30 91 " 86 4 22 114 4 88 4 8 4 36 4 4 1 109 144 61 164 60 85 164 4 19 4 23 4 66 45 42 34 4 74 824 26 69 172 20 4 138 4 60 Vi- 89 66 H i!74 186 198 4 174 28 184 85 Vs 174 67 4 72 21 4 21 68H Tl HO 65 1124 154 80 4 121 Vi 98 S 86 4 39 87 7H 2 4 26 4 24 4 11 24 . 85 .57 87 85 48 4 4 4 97 4 87 4 424 60 4 14 8 4 60 4 84 91 47 129 4 14 144 79 4 SB 4 83 4 69 4 ST 24 68 4 122 44 88 94 S74 33 4 48 94 4 26 649 12T 1374 2S6 1184 58 4 5 1364 109 , 9 S4 2S 4 254 60 4 144 71 18 4 .151 Draft Cable Pur London Pounds sterling:. $4.43 4 $4,434 4 "86 Paris France . . 7.5."4 7.56 . 19. 30 Belgium Francs. 6.99 4 7.00 19 30 Berlin Marks .. 03 4 03 4 23. 1 Genoa Lire .... 4 27 4 4.28 19 30 Athens Drachms 2.70 2.72 19.30 Copenhagen Kroner 20.28 20.33 26.70 Christiana Kroner 17.85 17.90 26.70 Stockholm Kroner 26.58 2G.63 26.70 Hongkong Currency ....67.05 R7.30 Japan Yen ....48 4 8.15 Shanghai Tads .77.38 77. 8 Canadian dollar discount, M & 4 per cent. Sales. I STOCKS 65 Rub , 58 41 53 4 10A!10O4 SOOjCnit Food Prod . JOOi.l'nited Vroit . . . -lOOSCitit RdsJS J 1001 do pfd laOOlCuit Retail Stores. , :. . . C S C t Pine; . .. 27000 1 V. H lnd Alcohol. iSOOiC 40OI do pfd llOO'C S Smelting . V S Steel .... do trtd ..... Ctab Copper . a Chehni . . . do pfd Vanadium Steel Vivandou .... Wabash .... do A pfd . . . do B pfd . . . Wells-FaTgo Western Pac . . Western I'nion Westinghouse A do E A M West Md .... White Kagle Oil White Motors . White Oil Willys-Overland do pfd ..... Wilson Packing Wis Central . . Woolworth . . . Worth Pump WALE . . . tWigh. 64 81 884! Lew. f 64 80 4 4370 700 140 lOO i 100 1400 1000 jooo 2000 1000! 100 400 100 3200 20O 120O 800 700 200 '260 42 4 IOI 4fc 1224 67 44 13 12 32 4 2 4 2 4 14 Vi 31 51 '6 4 8 OO 000 Total sales, storks, 1.I23.5A0 shares. Total sales, bonds. $13,490,000. 31 '3S4 14 41 Va 14 1 K 66 4 44 4 124 11 4 82 i " ' 62 H 14 30 14 50 "' 30 4 S8ii 12 Bid. 64 152 4 13 4 SO 4 SO 33"4 574 53 4 100 4 41 4 107 4 122 4 64 4 27 65 4 45 13 114 314 21 . 92 17 116 99 62 14 304 50 64 84 41 4 44 81 192 38 124 FOREIGN EXCHANGE Corrected department bank. Quotations below (except the potmd ins) are quoted on the basis nt inn foreign currency.' Opening nominal rate3 Uons: HATES daily by the foreign exchange of the United States National ster- nnits 00 bank transac; BOSTON Reported by Bid. Adven. . 60 Arcadian . 2 4 Bng. Ms. 17 C. A A. . 60 N. Corn. 18 Centenial 9 4 Op. Rge. 39 4 I. Daly . 4 4 Frkln M. 14 Helvetia 90 I. Crk. . 1 4 Keewanaw 1 4 K. Lake. 3 4 Lake Cop 8 4 1a Sail . 14 Mich. ... 2.V4 Mohawk . 59 V M. O. Col3 M. Vail y 1 4 N. Butte 1 0 4 Nipisa g. . . 5 4 N. Lake COPPER Overbeck A Ask. 100 8 18 61 184 10 894 4 4 24 100 1 4 4 4 1 4 3 6fi k. STOCKS Cocke Co. : Bid. O D Cop 22 Ose Mng 33 ask Obijawa . 1 4 Quin Mng 39 Pd Creek South L Sup Bos U 3 Mch do pfd. Sup Con . Shattuek . Trin Cop Tuolum re Ctah Mt 0 S Min do pfd . r"tah Ad 3 4 Ventura . 1 X , icu.rm . 1 1 I Winona. . 6 JWoiverine 30 . IWyandott . lit 44 1 43 4 26 4 4 4 8 1 4 50 1 4 424 46 Vj 2 4 28 S4 1 1 'i 84 34 ask Ask. 23 40 20 4 5 1 4 43 4 27 4 4 94 1 4 4S V, 474 2 4 29 1 4 1 4 9 U. S. BUSINESS I TRENDING UPWARD The bet authorities and students of indus trial cand;tivi declare that nationally busi ness is cn the upgrade, and we are heeld fesr prosperity', says Fred Cooper -of Wadhams A Co. The strikes that threatened to cheek the upward trend and made business uncertain, re now passed, and unemployrotrit is greatly reduced and has become normal for this sea son, while some sections of the country te port sn actual shortage of labor in many tines. The transportation .kiiuatioB . is rapidly recovering its balance after a period of la bor disturbances that threatened paralysis. De fcoite the prevaHinir lbw .steamshin rates, that causes a heavy tonnage to move by water froiw coast to couc mo nutnaos are tia ziau ng their normal amount, uf freight, the num ber of idle cars has been reduced to a van ishing point, and we may again feel an actual car shortagjr. The roads will be taxed beyond their capacity to move crops this fall The Near Eastern trouble has caused ap prehension in financial circles, and declines in stocks and bond, but has allowed tbe farmer an opportunity to., sell his grain - on a strong and active market, and it has not in any way checked the rising, tide of business activity. The crops throughout the country have been above normal and, prices hare generally paid the producer a good profit. In the Pacific Northwest agricultural con ditions are spotted. While the grain ctjp is above the average, the yield in some sec tions was seriously affected by ary westner and hay is short and high. The sheep man is very prosperous, while the cattle industry in suffering from low" prices and short feed, and stock is being rushed to market at a sacrifice. The fruit crop is abundant but transportation difficulties adversely affected price by curtailing the market. A large potato crop will - hardly repay the producer for harvesting after paying t-hipying charges. As a hole, however, conditions are abore the average. The tremendous activity and prosperity of the lumber industry and a real building boom everywhere has employed labor at remuner ative wages and given an impetus, to all lines of business and manufacture. The grocery trade is among the first to be benefited by the general improvement and prices have been stabilized and confidence is again restored. 1 ' southern nnoN , I Central Oregon To Demand Lower Rates on Produce TRADING HEAVY .By I. V. Shannon. New Orleans. Oct. M. Tbe south is real izing from IO.OOO.OOI to $15,000,004 a day from the sale! "of cotteffl and has maintained this rate for trie last five weeks Competent authorities ertimate that ever one-third of the 1922 crop has already passed out of the hands of the growers, who have received sometlriKs lii- $400,000,000 m cash, for what has neen sold. This infiux or money has had a wide in fluence on business and every line of trade in this section is feelirez its effect. Louisisna bank rcvwirres ' have increased over $60,000,000 so far thfs year, with a decrease of $30,000,000 in debts. The indebtedness of the banks for borrowed mpney is drtwn to normal for the first time since tbe war. Wool Stocks Are Reported Smallest Holding in Years , Boston, Oct. 11. iCT. P.) Some of the largest wool houses in Boston with large finan cial resources claim teat their, stocks of wool are the smallest in years. Consequently there is considerable epeculatianr developing in the wool market and prires are holding stesdy. Woolen mills are now Wondering how small the supplies of wool are irnr local warehouses, rather than how large they sire. Reports from the London woll auctions in dicate that prices are . very strong with Meri nos advancing steadily. Iirge New Eng land mills reported to be buying for imme diate consumption. Tjfrere is considerable spec ulation in quarterbbTHi wools, evidently on the theory that shortly mills will demand this type of wool for heavyweight season goods. CHICAGO VOLUME OF TRADE HEAVY . Br A. . Weltan. Chicago, Oct. 11. The general oune of trade int this, section today is larger even when contemplated wjth the peak, records made immediately after the armistice. Car loadings are at a high point. but this is attributed in part to the volumes of coal nosv being shipped. There are no idja cars snri railroads are increasing operation. Steel production is gaining and yie mar ket for iron and other metal . products is brick with unfilled orders increasing. The leather market is better and business is increasing in volume with most tanners holding out for fall list prices. - Foreign Exrsn.ne-e Market New York, Oct. iT. (V. P. I Foreign exchange opened firm. Sterling. $4,43 4. up 4 ; ; francs, .0755 4 . up 2 4; ,ire, .04 27 4, up 4: marks. .0003 4, up 4. Tbe foreign exchange closed firm. Ster ling. $4.48 9-16; franca. .0757; lire, .6427 4 ; marks. 0003. Eastern Markets. Are To Be Closed On Thursday Thursday being ColumSss day, an New York markets will be closed. Chieago market will he closed because of Discovery day. All will reopen Friday. . Portland markets will be opea aa usual. . Redmond. Or., Oct. 11. Central Oregon is going to demand justice from the railroads in the matter of transportation rat 3 on its products. lt is going to accept the challenge of the statement of -the railroads that no re ductions had been asked for. Redmond will be the scene, of a gathering of the combined com mercial and agricultural interests of Central Oregon Friday. A meeting will be held to take up the mat ter of freiglrt rates and marketing conditions as well as publicity for this section. Hyman H. Cohen, commercial editor of The Oretfun Journal, has been invited to attend. A margarine works in Holland has adopted, a recently discovered process for obtaining edible fats from tar. PARENT BONDS I : .. UNITED) STATES GOVERNMENT BONDS are the head of the house in the bond family of America. OUR GOVERNMENT has announced a new loan of 4 tfc refunding bonds at par and interest. - We are pleased to offer the facilities of our institution' to assist oui clients to participate in this issue. Reservations and arrangements for conversion of Victory Bonds can now be made afc our office. Western Bond & Mortgage Company FOURTH AT OAK STREET PORTLAND, OREGON Telephone Broadway 6464 $550,000 DESCHUTES COUNTY MUNICIPAL IMPROVEMENT DISTRICT " ' ' - " " ' " ' slav 11 " yield Mfctw NEW INCORPORATIONS Kalcm. Or., Oct. 11. Artk-les of inesr- poration were filed her Tuesday by the if. Tupttn company. Inc., of Portland. The manpany ni capitalised at S&OOO with the fol lowina inoorroratom : Harry Tuplinc, 1L K. Action and 81 A. Michton. i, A certificate shewina asitncreae ir capi talisation fmn S.000 to $50,000 was filed by the '.and. t Pacific Securities company of Port- New Terk Vetal arartet Tork. Oct. '11. It. V. B. Metal Copper quiet, alii posiUons 1S4 ) New prices; 134c, lad qoiM. AU positions 6.606 &. SpeHer quiet. AH pmttions ' 6.55 6.65a. dtshcuk o. Lewiston Orchards MUNICIPAL Irrigation District 7 Bonds - -" -.. - V tat ''is-a ,.sjat aia f. , rv -r -ax. ,"f gtvrrr "ei 4589 Acres intensively cultivated A land value of. .$1. 5361 150 Bonded debt only . . 350.000 jeV M. ..MSwi-'X -Ta-.J.-:'l .'V V"-'l'.:.)a '' 'i Annual production exceeds bonded debt ...' fi rrs-ss. 4 w,. a LlVSTDX Cl2AJSSlRAlCAriDM i District SlOOOjl ! 1 11 4'iaT m .1 3 m r W ta k W - S fr M Ssmaif W ' 1 I stwMag j jU janaaai ajW j Margin . of security nearly 4Yz to 1 ' Price to Yield 6i Income Tax Exempt Call, phone or write Do It Now Use Our Partial Payment Plan FREEMAN, SMITH 0 CAMP CO. Uwtiimtm Bldh PosrrvAHw SLUkl5 StAIIIC tP 1740 I A "Well Secured Oregon Bond The districit, compnsing 20,375 acres, one -of trie .most fertile and; productive farming sections of the state of Oregon, is, located but, five miles of the city of Bend, a prosperous1 and growing city, served by two transconti nental railroads, ' j - i" Individual .holdings are small, averaging: 82 acres of pro ductive land and 27 acres of pasture. Wheat, corn, barley and oats aire raised in large quantities. Garden truck, strawberries and small fruit are raised in abundance and supply a eavy local demand. Potatoes grown in the district have taken first prizes in all Northwestern agri cultural exhibits. Alfalfa, the principal crop, provides the best feed for the ever-increasing herds ,of sheep and dairy and beef cattle. Productive? land is the basis of all prosperity. These bonds are 7 a direct obligation on wealth-producing soil, supported (by the full taxing power' of the municipality. The bondsare Federal income tax exempt. They are a prior tax lm ahead of all first mortgages ; the collection of taxes and payment of interest and principal are han dled in the, same manner and at the same time as school, county and state taxes. They are a legal investment for insurance (companies, trust fund's Oregon. savings in Wire orders "collecf or call, write or phone Main 4195 for reservations or detailed information. Price to Yield 6.25 G'E'MILLER & COMPANY MUNICIPAL -3 t Portland Seattle 2d Floor N. W. Bank Bldg. 4 si INCORPORATION. f ' - Telephone, Main 4159 PORTLAND San Francisco Los Angeles r Lewiston Orchards Nez Perce Co., Idaho Municipal Irrigation District ! ; 7 Gold Bonds Dated July 1, 1922 May Due 15, 1933-42 Denomination $1000 FINANCIAL and STATEMENT. Improvements, u. Appraised value of land .Assessed Tarnation Total Mnded debt, this Issue only Averaire value of land per acre Bonded debt per acre.. t Area of district (all Irrigated)...... i Averag-e IndlTldnal ownership ; nmber of Individual land owners., ; Population of district, estimated 42.160 ... 156,906 I.7 . .4J8t acres .. 19.41 acres ..nn ..70S THESIS BONDS ARE: "1 ' 1 Payable from municipal taxes. , ; 2 A general obligation of the entire district. 3 A prior tax lien on 4389. acres of highly developed land, rank ing ahead of First Mortgages. ' . ' 4 Free from Federal Income Taxes. . r 5 Certified by Idaho Reclamation Bond Commission. I- 6 Legal for Savings Bank and Trust Fund Investments in Idaho and Oregon. 7 Priced to yield 6.25 INCOME TAX EXEMPT Wire Orders Collect Ralph Schneeloch Company MUNICIPAL CORPORATION C Second Floor LumbermensBlog. 712 Practically two-thirds of this $60)00 issue of 7H SeriaL Gold Notes has been sold. To insure a high yield, we suggest immediate reservations. Canada ShineGo.Ltd This successful company offers security jo a value of $262, 000 for this $60,000 loan, not including insurance policies that insure full payment, of bonds in case of fire. trustee for the bondholders, and recommends; an investment amply; secured. .1 . DENS. $100, $500, $1000: : . Bonds: are due serially 1925-31. x Semi-annual interest. This bank is the issue as BROADWAY and OAK f V i i- ST 81 , 2a 04