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About The Oregon daily journal. (Portland, Or.) 1902-1972 | View Entire Issue (Oct. 23, 1922)
THE OREGON DAILY JOURNAL, PORTLAND, OREGON. XONDAY, OCTOBER 23, 1922. BREAK IN . STOCK MARKET . VALUES. MONDAY DUE TO MANY -CAUSES WITH SPECULATION LACKING 1r ' a'.." t FORCE REACTION NSTOCK mARKET Br Uirt f. West VtTaB Street.. New Tort. Oct. 23 Today's kreak m the stock, exi-hsuce could not be art down to any one cuw, but rather to m com j "ofiMtlon of csue. One 01 tMM mi in lunnrr lireeted titration uan rather tmnleesant ' !.Mr$?$HWssi the uncertainty . '.'or French .nuances. An other u th. slaeken fai( of' th ; investment VY noticeable fatnru all ,',.. ' through t)e last month. ' J''- I Finally there was the Z ket itself, undoubtedly weaker because of ex tsavsfanrea of the re- v l 1 ,nt speculation in m 'OP! V. 1 v i Jns trial vtacju. toonaed 1 innn mmMt nf ttvk I VI either ptem&turrt or ele I . . i ii mi iim iii iii r I fcr m&ae up out of whole Wf the-' uiTlueriees the speculative" it nation counted the most. The manipulation of high priced industrial shares during the latt few weeks had alarmed cenaervstive sentiment and till farther s Hens 3rd public snpport- In these ways the public bavin- power, or better, the resistance which tile, market waa capable of rioklrais to profesaional aUack. had been jB-eas:-ened. Speculators for the decline started in coon after the opening this morning- to find oat pust how 'vulnerable the market position .had becsne.- Force Shipping 8heres They becsn by offering down the shippina stocks; because of the ' court order upholding the treasury ruling in the liquor transporta tion case. They, pressed down- the motor stocks with considerable 'violence, although there was anotiier to warrant this outside of L the slowdown which the motor trade always Winergoes at inn season or tJie year. Ecourazed- by "Hie Quick success stialned in these- direction, the 'selling movement was ex tended until, in the early afternoon, it became fairly general. "There was not. the- slightest grounds for upporing that the falling of atocks meant any change in opinion i regarding .Use busi ness outlook (or the country or that it was due tor disappointment because the recovery was not making better progress. On- the contrary, the stock market in some decree has felt, like the bond market,-; the diversion of funds into commercial channels, which, up to a month ' and a half ago. were available for investment tuaes. There has sot been the. actual liquids.-' "tioo of. stock investments -as there has been of bond investments by banks having to meet the demands due to Increasing trade activity. But itoe element ot investment support. -which all along, has been very helpful, to the stock mar--vfket. is not (what it was up to the middle of (j September." W. . Franca Very Weak . The weakness of French francs was more ;Trronou.nced than on any day so far. Not since ;-the first week in December. 1921. when the rata ttwehed has the market been1 so low. Undoubtedly the decline during the lsst fort--rjtght has been due chiefly to the fear of un : plce&snt disorders when the chamber --of depu - ties begins its disras.ion of the 1923 budget s it will do this week. European Exchanges Affected The selling of francs had a disturbing ef fect upon other Kuropean exchanges. Sterling was off a cent and a half from Saturday t nd 1 nearly four bents from last week's high, bu : this was scarcely more than the -normal ie- action of a highly speculative market follow ing a sharp advance. The. money market began, the week in comfortable shape, with most of the Wan street loans iarraneed at 4 V4 ; per cent. It is noticeable that French government bonds were not affected: " thjjs time, as they often have been in the past r by the course of excliange rates. For the most part the low : points in -stocks were made in tbe late after Coon. ; v - LU Drop In Oils r' v In the 'closing hour such speculative leaders ai Standard Oil of New Jersey, Baldwin Lo- . comotire . and Studebaker were off 3 to 5 v points even as compared with the opening ' q notations. Steel common was selling five points, below its high of a week ago. These : ware pretty generous declines and must have 'Cone fair toward correcting weaknesses in the VsWcculatave situation. v - ITp' to the final half hour of the trading ' the toc k market was weaker than on any ' V n 'lie rrewent. month. But just toward tins, end wave of baying started in the can. -stocks- and in a few of the rails. Norfolk - vietii run- up brukly in expectation of some port iif a divkhend increase at tomorrow's meeting, ajid ' the Western kisoland stocks motfettiy- became very strong, calling attention ' to the likelihood of this road figuring in some one or two of the .new group formations. These siiecial .buying movements brought about a moderate recovery all through the list. : . FOREIG5 EXCHANGE RATES Corrected daily by the foreign exchange de partment of the Cnited States National bank i Quotation below (except the pound ster Kn) srs on the,, basis of 100 units foreign urrency. - Opening nominal rates on bank transactions -Draft Cable. Par. ' . Cheeks. Transfers. Value. London Pounds tlg..$ 4 454 t 4.45Ts -4.866 ran 7 24 14 tT25 19.30 NEW YORK BOND TRANSACTIONS Eeported by Th Jornal's Wall Street ;Bnxaa By Oaeeye T. NurM ; Wall Street. New Tor. Oct. 2 Extra dullness pervaded the wood market. Price chances were small and in most ease without signif icaoce. The volnme of trading was iight. Bid and aske4 qootaUons far th swore in active securities were far apart- Holders showed mo inclination to sen at the market and there waa lack of braying orders. The kst ter feature waa particulsriy noticeable fa tbe foreign list. Bids est the "board" were tor small amounts generally. As far as y-actusi transactions went. French bonds, for instance, sold around the closing figwraa of Saturday but sales'-in any larce Quantity would undoubtedly have -to be made st concessions. The feeling of ancertainty -with regard to conditions abroad was-ridespread. The weakness in French iax ebawge did. not help any. : (Considerable interest attached to a swpnet that there has been some hitch in the Missouri. Kansas A Texas- jeorganisation plan. - The sale of the property scheduled for October 1 6 waa postponed pending approval of the interstate commerce commuston of th plan. - he : recc ganisation managers stated they expected a hearing in the case this week. The adjustment 5a selling on a "when-issued basis were reac tionary today. Earnings of the load make a very good showing. lenvee A Bio Grande re funding 5s, in which there has been consid erable activity of late, went up again today. Norfolk 4k Western convertible 6s also had an advance in response to tbe strength jtu. the stock. Reports of - a dividend increase 'fwere heard in Wall street. Railroad bonds Which sustained losses included West Shore 4s. St. Louis Southwestern first fours and Western Pacific 6s. s - F Mexican Petroleum 8s made a new high.1 In the government bond list, during early trading, the . old 4 issues were down a tew points while the 3 H s ana the new refunding 4 5i advanced. New York. Oct. 2S.- Following is an offi cial list of all bonds traded in on. the New York stock exchange today with prices and sales up to and including dose of the market. Tote! sales today were 12.632,000, against $11. -844.000 Saturday, 1 1,634,000 a week ago. l.7T3.000 a year ago, and $14,464,000 two years ago. - : From January 1 to date, $3,552,399,000. againrt- $2,566,721,000 a year ago, aid- $3. 047,702,000 two years ago. L1BETY BONDS Sales (In $1000) High f Low G , Francs Belgium Frsncts . . . . lexlin - Marks Cenoa 'Lire Athens iDrachmas . Copenhagen iEroner . . Christiania i Kroner . i . i Btockholm ' Kroner . . Uongkong i :k - -. Currency , . Japan Ten - Shanghai - Tael . . 6 7014 ?ij8.71 19.30 .02 7-l ".02 7-16 23.81 4.14 S 4 15 19.80 ,. 20 . 20.0! , 17.80 . 2.6 . 63.90 48.07 74.00 2.10 20.07 17.85 2.7l' 55 65 48.22 74.80 .19.30 28.70 26.70 26.70 Canadian dollar, discount 1 . 4 73Liberty 3Hs Sf'do reg 105 do 1st 4 Us - 2 do 1st 4 '4 a reg. 12f do l-2d 4ii. . 307 do 2d 4 4s 28 do reg 025 do 3d I'll 21 da reg . . - 739 do 4th 4 "4. . . 17 do reg 301 .Victory 4 s '23. 2 do reg '23 12191 do 4 s '22 . . . 13 do reg "22 ... . 999C S of Am 4 Us. FOREIGN 2 Argentine 5s ... . 13: do 7s 22:Belgium lUl... 17; do Ss 3 5 -do 6 8 Chinese Kwy. 5s. ; :2 Bergen 8s ..... . : '5'Berne-!l ; 3;Bdesux 6s ' : 3 Cffenhsgen 5H- 1 K'hristiania 8s... 10 l.yons 6s. ..... . 3 Marseille 6s.'. . . 1 Montivideo 7 . . . . lO'Porto Aleere 8s. . 8 'Praeue 78..... lliR. de Janeiro 8l .4; do 8 cerfs.j. . . lfSuissons 6s. . . . 12 Sao Paulo 8s. . . lBITokio 5s 8 i Zurich 8s 34 j Seine 7s t. car. S Dom. Rep. 6s. . . 1 'J 'Canada 5 Hs nil. 16i do 5s '20 82; do Bs '52 29 do 5s '31 88 Omtch E. I. 6s'47 39 do rets 6s '62. lOljFrench 8s lll'French 7V 3 Japan 1st 4Vii. 47 do 2d 4Va 6i do ster In 4s ? 7, Denmark its 9 do ctfa to . 6 Italy atts':A 64 Netherlands rets 6s 35Norway 8s ... 60 do Gs . 22Sweden 6s . . -J! 5 'Bolivia 8s ... 13 (Chile 8s '26 . 4 1 do 8s '41 . . . J4 do 8s ctfa . . : liCuba 5s 1 hlCzechoslovsk 8s in;Hsiti 5s 2;l'rugusy 8s . . 20)ueenaland 7s 10 ido 6s"ctfs . . . 5 S wiss 8e 10 Rio Grande d'S 8 3 Sao Paulo s; 55 IKGB41 5Vs'29 53 do 5 iis '27 ... 6 BrasU 8s 281 do 7 Ms rets . . 3 Mexico 4a MISCELLANEOUS & 1 1 Aiax Rub 8s . . 17jAni Agr C 7 Hi.! 2! Am Cot Oil 5s. . 23 Am Smelt lst5s. 44 Am Sa Ref 6s. 2 Am T A T crt 6s 1021 do col tr 5c.. ,V. 1; do cvt 4 H. - . 6i1 do col 4s . . 2iAm W Works fis. S.Jur l"n Mar- eVt 6s 58 Armor es 4 Hs. -3:Atl Ref leb 5s6 . 1 Baldwin Loco Ss 18!BeU Tel of Pa 7s llBarnsdall 8s A. i J ! do 8s A B . , i 1 BetbSteel ref 5a do P M 5s. . . 7 do 6s 2:Braden fe 6a . . 1 Bklyn Ed ien7sC TTBkln Edi 7s D 21 do 5s lOiBkln V Gas cvt 7si 15 ("an Gen El 6s. . . .iuent rary tss 1011611 looaoii 9920 i 98801 110056 9902 9882 9922 9910 9050 I 9918 I10030U IOO . 1 iiAoie i 100 110012 1 BONDS 82 101 102 101 98H 53H H0914 111 80 H 91 107 8O Vs SO v4 92 104 4 78 99 H 99 78 H 100 70 111 S 874 96 101 4 09 94 94 H 100 90 93 92 80 hi 110 98 96 94 112 100)4 103 H 96 4 102 H 104 104 90 93', 96 Vk 1064 10 102 1214 100 101 . 108 102 14 101 V. 88 . 39 00981 0090 9904 98701 0056 9886 9880j 9908 9900 9908 9892 0016 0O I 0008 9996 00 TO 98 10O 90 9904. 9879 10056 9888 9880 9908 9900 9914 9892 10030 100 10016 IOO 10012 82 101 101 s 101 Vt 98 H 58 4 109 4 110 80 91 4 1074 80 hi 80 4 92 4 104 78 h 99 99 7814 89 V 70 111 H 87 hi 66 101 hi i09 hi 99 99 94 s 94 14 99 hi 95 Vs 93 92 79 H 109 hi 98 H 99 hi 94 hi 112 hi 100 IOS hi 96 hi 102 103 hi 103 4 90 hi t 92 a 96 hi Van 1-08 1014 120 100 101 H 108 hi 102 "4 lOl 86 H 39 INDUSTRIAL 98 hi 104 "A 89 94 H 1024 116 Vk 98 hi 102 hi 91 84 80 91 99 4 102 hi 108 4 ilOSH 10 6 hi 87 ! 83 100. 99 V4 196 hi 107 hi 96 hi 115 80 89 6;Cent Lthr gen 5s 99 hi 22 C de Pasco cvt 8all2 lSlChile Cop cvt 7I108 107107 99 103 89 94' 102 116H 87 102 1 - 84 79H 90 99 hi 102 108 105- 106 97 98 10O 89 106 107 96 115 79 89 99 122 82 101 hi 102 101 98 53 109 111 80 91 107 80 80 92 104 78 99 99 ,. 78 99 70 111" 87, 96 101 99 99 99 94 94 99 95 93 92 79 no 98 H 96 94 112 100 103 hi 96 102 103 104 90 92 96 106 108 102' 120 100 101 108 102 101 . 88 89 BONDS. 99 104 89 94 102 116 97 102 91 84 80 90 99 102 108 105 106 97 93 100 99 106 107 96 115 73 - 89 99 122 Sales.f TXfleOO 76t do oc4 tr 6a... SfCin Gas 5s 14iColo Indus 5. .. 4 1 Colo Gas st EJ Sal Zl do 5s- at . . lfCoaa Cables 4a 2Con As Bar 7 si llCoanp Tab Rne 6s) 18'romwth Pr 6s '46 17jC Coal Mi 5aJ iers--row!x.i Cta4tsrz -6ICb C8ug 7a sta ! Octroi t td rfg 2 do rfg 6s . . , ifVt Edi vf( Ss liDrt BiT Ton s: 14:iMnont 7s . . . 8;Dti LtAPwr s 5 E Cuba Sag 7. 37 KG&F ev 7 cfs 7iFisk Rubber Co 8s! 4.Ft In D db 7s) 1MB Jul de" 6s. . 1 do deb 3 .. 61 do deb 6s 14 Goodrich 1st CHsl OIGdyrr TetR 8s '41 t t A. C. 1 3:Grsnby Min He. 5;rsyDavis Ts'32 8 Hoi Am Line s 16 Hm OAR db S sj - (111 BU deb 4 s llilnd Steel 5s .. .. lInt Agru-nl 6c. 2 lint Cement he.. 2? lot Paper Ss. A . 12 do 6s B ..... 28 Int Mer U 8F 6s sa;invino UH 8a. 1 ! J. Kaiser . . . 8 Kin Co cv 7, l.Ijurk Steel 5s . . 1 Lac Gas ref 6s. J ILig A Myers, 7s 18 Man S db7sctfs4 aiMaryl Oil8swart 28Mex Pete 8s 1 Mich Bute Tel 6s 27 Mil Steel et 5. lOjMont Pow Colst5s) 6 1 Nat Tube 5s 19 N JCng TATlstSsA 1!N Y Dock Ci 4s 12IN1Y E CorefvJHs; 7 NTGELH4PC 5s 8 IN ,"Y Tel gen ;4s 1 sv ao ret es i 5Niag Fls PowerSs $2So A' Edi 6s rctsi SlNo O T lit 6 5 No St Pw 1st 5s! f High, irem. fCloae. rl9!Si W Bl Tl 7s. 6 (Otis Steel 21 do .7 Vis lSiPsc Gas A SfPac Pow & 8s rrts . . El 5 s Lt 5sl 5s 99 98 90 0 6 90 103 , 89 1108 193 IOO 94 106 92 105 82 102 101 11, 99 95 99, 89 98 92 101 85 107 i 90 89 91 109 106 99 99 92 96 96 115 108. 99 89 98 100 99 80 109 99 96 1105 100 94 94 92 107 101 95 119 94 97 93 102 1 Pac Tel A Tel 24' do 61 rets - . 5'iPsn A P ft T 7s! 5-jP, G ft C of O 5s' 100 !P Ser of N J 5sl 87 2fP A S cvt deb 7s fllrnd ft Bef 8s. . 51 do 8s wsru . . . 4Rsming 1st 6s A J7lRep Iron ft St 5 10 Rob ft M '7s '42 8'R Brown Iron 7s 50Sin Cr OU 5s 3i do evt 7 s. . . 50' do 7s rets 8 8in P. 5s . . 11 'Sharon 8 ho 7 'So For Ric Sn 5 So Bel T A T 49.S. O. of Cal d. 7s108 llTenn. Cop. 6a..ll00 24 iTkle water Oil 6 si 103 4tT., Ed. 1st '7s. 107 ll;U B.. ft P. scfs-, 99 14 1 Union Tank Car Taj 103 1 United Drug 8s 5 11 7 47 5 5 96 ) 95 I 95 91 I 91 , I 91 80 - 1 89 J 80 96! 96 I 96 T5! 95t sVJV 75 99 98 98V- 90 90 f 90 90 95 96 89 I 89 103 1103. :9T I 97 98 99 89 89 108 108 103 103 1H 1100 93 I 98 105 (195 82 1 91 105 105 82 1 82 102 102 IOl Vi 19144 116 1116 99 99 94 94 - 99 99 89 89 98 98 92 92 100 10O S 85 107 107 89 90 88 88 91 91 109 109 106 106 09 99 99 99 92 92 96 96 96 96 114 115 108 108 99 99 89 89 98 98 100 100 98 98 80 80 109 lOw 98 99 96 96 105 105 10O 100 94 94 94 94 92. 92 !107 107 100 101 95 93 119 1 1 i 94 94 97 07 92 92 102 102 100 100 87 87 106 1106 1041 105ll03 105 119 119tll9 96 96 96 93 94 95 99 99 99 95 95 95 98 98j 9S"4 102I102 102 101 101 101 94 94 94 1001100 10O 101 1101 !10-t 06 I 06 I 96 Salea-t TV ,1000 " Iif do cvt ; 50 do 4s "4 1 1 11 ra 4s sty do awn 5a rhi Kys Co 6a. C B I ft P gen 4sJ da rfg 4s. . lOjChie D Sta 4s 2IChic ft W I 7si 12 do COO 4s. . 18ICCG ft StLd4cj II do c m 4s. . 7 do s A. . . . .'. 27!Ctev- Un T 5s 7 (Colo ft Sob 1st 4 . z 00 rtg 4 16Cuban K. R. 5 . 25 1 "4i '' 284i 13 Del ft Hud cvt 5s do 5s. do 7s D ft, Rio G imp 5sj - ao n a . do con 4s 38Det Un Rys 4 sj High, f Tow Close. 15 do 2 1 SllErie gen In 4s 3 do pr tn 4s 17 do cvt 4s A 1 do cvt 4s D , - 15 Erie ft Jersey 6sf HFla E Coast 4s - 18 Ga-Ala, 5s 8 Or Trunk Can 11 do 6 "35 lit North 7s 1 do 4s . . . 5s Or Bay ft W d Uav El By 5s do L ft P 5s 25.Hud ft M 1 5s 130t do sdi ine 5s 1 IU Cen L div 3 s TilU Uent 3 s 5 do 4s '52 6 do 4s '53 226,Interb Met ctfs ) 4s sta I 13 26 do R T evt 7s wi 97 149 do ref 5s 7 1 01 do bankers ctfa. . 74 IS' do 6s -7 3; Inter Gt Nor 6s j notes ctfs ) 97 161 do adj 6s wi. . . ! 52 5 do 7s jlOO 1 Ioifi Cent ref 4s. j 4L 1 I !&sn U r t S & I Mem 4s ....... 4 Kan C Sou Ss . . 161 do 1st 3s 15 do Term 1st 4s. 7 1 Kings Co El 4s . . LSftMS3sl 76 04 85 103 81 83 84 92 1021 76 92 80 101 104 92 87 89 99 101 108 84 , 52 77 85 53 64 50 53 96 91 53 7sjll2 102 112 89 102 13 . 91 84 84 61 112 lOl 85 814 122 U.8.H6ff.M. :8s . 104 ?i B. R. ft 1. 5a 99 U. SS. CorpSsctfs 94 V. S. Rub. 6s. . 89 do ctfs of '47 ... I 8 U. 8. S.R.fti M.6s 101 117U. S. Steel s. f. 5.; 103 5 Utah Pow. ft Lt.. 92 6 Utica. Gas 6.. ..I 91 4 Va-Csro Cbera. 5s100 2 SO 2 62 11 3 1 7 84 8 13 20 15 do 6s do! 7s ctfs. A. . do cvt7 s A. . . do evt. 7aA.. Warner S. B. 7s. Wsot. Elec. T6s. . W. Pa. Posvl 6s. W. TJ. 6s West. Elec. 7b. . Wick 8 p. Steel 7s! Wilson 1st 6s. . . do cvt. 6s. ... , do 7s. RAILROAD II Ann Arbor 4s . 1 1 LA T ft S F gen 4s 101 do cvt 4s . 14 ido adj. 4s sty 4 A C L 4 . SjACLLftNcol tr 4s 100 97 85 96 103 100 103 19 108 99 1014 98 105 105 100 102 107 99 103 122 104 98 94 88 89 101 102 92 91 100 100 96 85 86 103 100 103 108 107 99 101 97 105 BONDS 4 12 38 6 25 10 12 8 12 B ft O Hi ... do ref 5s ... do cvt 4 s . do gold 4s . . do p In 3 s 2! do4s FLE ftWdlwl 6 do 4s Tol ft C dv 1 do 8 s S'wn div 20 Bk Q CoftSb. 21Bk R T 5s , 1 do 5s ctfa 1 RlBkln Rap Tt. 7s. do 7s tr co ctfs do 7s tr cat c st Bkln Cn El 1st 5s BuffRftP con 4 si do 5s . , . . . 34 'Can Nor 7s . 15 do deb 6s SSif'an Iaci-4s p 22 'Cent Ry Bras 7s 2;Cnt Ga Hy 6s. 68 88 88 81 88 82 100 87 84 83 93 79 69 92 5sl 67 OT 62 94 Ti "94 90 85 99 101 113 26 i do con 5s SiCent Pac a f 3a 2 1 do 1st ref 4s. 15 C ft O con 5s. 49 do cvt 6s 1 do gen 4 s . 68 do cvt 4 a . 87 Chi ft Alt rig 31 10 do 3s 4 O B Q gen 4s 32 do ref 5s . . . 4fCBftQ 3TllDv 10 do 4s 111 Div. 19iC ft E I 6s .. 3'ChiftE 1st eon 6s 14 34 23 Chi Gt W 4c CMftStP cvt 4 si do rfg 4 s 111 80 88 100 97 92 87 100 97 89 88 5S 32 88 100 81 I 88 82 107 51 72 '66 68 68 83 80 88 f 82 ' 100 86 82 82 95 79 67 92 67 67 02 84 93 . 90 85 99 101 112 fill 794 88 100 97 92 87 100 94 89 87 58 32 88 100 81 88 82 106 61 71 65 10S 100 103 107 99 103 122 104 98 94 89 89 101 102 92 91 IOO 100 96 85 96 103 100 103 108 107 99 161 98 10fl 68 88 83 81 88 82 100 87 84 83 95 . 79 68 92 67 67 62 94 93 90 85 99 101 112 111 70 88 100 97 92 87 100 94 89 87 5R 32 88 100 81 88 82 106 51 71 65 80 92 89 82 76 79 ii 17 do deb 4s : 92 5 L Val Pa eon4sl l- do gen' 4s .... 82 Lehigh Yal 6s . . 104 Long Is ref 4s. . . 80 L ft N 7s ..... 108 do uni 4s 90 do 5s Cin 4s. 98 do 4s AKftC div &6 do 8s St L div. 61 do S Ry Mpjt4s 82 Louis ft Ark 5s.. 92 Louis ft N--W 5s. 75 Msn Ry con 4s . . 69 Man Sou Lines 4s 70 Mkt St Ry con 6s 90 do 6s , 94 7,M St. L. 1st r 4s 41 5IMftStPftSSM6 s104 2:M K ft T 1st 4sl 83 14 do 5s A wi. dj. 5s A 6s C wi. . . 1st ext. 5s. Pac. 6s Pac. cen. 4 s 1 'Mobile ft Biiam4s 11 Mob ft ,OSLAC4s 8N O T ft M ine5s 10. do 6s A 12jN Y Cent con 4s OS do deb 6s ... 6jNYCftHRrffti4 a' 1 j do gen 3 a ... . 21 j do 4s 168) do 5s rr 4jN Y C ft S L st4sj 2 1 12 11 5 2 1 1 6 2 2 2 28 2 187) do 51 do 1 do I61M0. 6OIM0. wi do deb 4 2 N Y Cn Rys 4 s) lD!il.HH deb 6s 8j.NTNH.ftH d 3 1M ft Put 4s .. 2(NYRs sdj 5s... 3jNSusftW g m 5s 3lNY WAB 4s. . 4s 1 o i .- A w Hit con 316 do cvt 6s 1 do div 4s ...... 22 Nor Pc 6s B. . . . 8 do 4 a 11 do pr In 4s. . . . 5 do gen 3s 11 do ref. ft. imp 5s. 4 O 8 L rfg 4s .. . 276jO-W R R ft N 4s 881P L M UK 6a ctf 3 Penn R R 7s. . 85 do 5s 20 do gold 6s. 11 dogm4s. 41 do 4s ' 1 iPeo ft Eas inc 4Si 311'ere Mar rfg 5s 61 do 4s .... 2;IbiIlppine Ry 4si 2lICCStL4 s B 84 62 96 90 . .;ioo 65 75 r76 76 100 83 106 88 78 j 90 97 92 90 91 80 50 84 6 51 54 89 T8 I 83 85 165 81 83 83 91 10 To -91 80 106 104 92 II 99 101 108 84 61 77 85 52 64 49 53 94 91 53 112 102 111 89 fOl 13 91 - 84 83 61 110 101 85 81 76 83 85 103 81 83 83 91 102 76 92 80 191 104 92 . 87 86 99 101 108 84 61 77 85 53 64 49 53 96 91 63 112 102 111 89 101 13 91 84 83 61 110 101 85 8t 12 97 74 74 78 I 97 53 100 41 hi lPHLP7s '47;107 6 22 61 cvt 4 s - gen 5s 4s. . ' 4s! yWitliiBIiKiMI S3 MMaMIWIMIWM f ; . t's - A DIRECT GENERAL OBLIGATION OF WEALTHY HOOD RJVER COUNTY ' It' 3 ' 13 ' $100,000 4 General Obligation Road Bonds HOOD RIVER COUNTY, ORE. Bonds dated Nov. 1, 1921. Due Not. 1, 1941. Den. $1000. INCOME TAX EXEMPT Price on Application THE unquestioned strength and' wealth of Hood River County h suth that its general obligation bonds command :prfeiniuni3 and , are considered as among the strongest of western municipals. These bonds, which are direct general obligations of the en .tire county, are issued tq construct permanent roads. f Financial Statement Actual value, estimated.. ;.i over $20,000,000.00 i Assessed valuation 10,163,16823 . Net bonded debt, including this issue.. 301,000.00 Population, 1920 census, 8315. - These Bonds Are Eligible for Invest ment of SaVings Banks and Trust Funds in Oregon and Washington Bond Data Semi-annual interest Principal and interest I payable out of DIRECT TAXES One of Oregon's richest counties A bond that is accepted as gilt-edged collateral. Hum: BE If P' s(e.lIS1HW..!f(tt1(itlSKWisn' 1 Broadway and Oak : 15 Reading gen 4s 48 Rft V col tr 4s 9 RIArk ft L 4 s 8StLIMtftS gen 5 ll)9:UMaR4G d 4s . IZISLftSfe' pr In 4s A 6. do 5s B do gen 6s C . . . do inc 6s do gen 5s D. St L S W 1st 4s do con 4s . . . . do term 5s 2 St P MAM con Ss 24:8 A ft A P 1st 4sJ ZIB A L gold st 4s 3T do rfg 4s 0 do eon 7jSon Pas 12i do rfg 9018ou Ry 721 do con 23; do 6 s 6Third Ave. rfg. 4 s - j ao saj. os. . . . 19,U. Pac 1st 4s. ilT. P. cvt. 4a. . 31 do ref 4s. ... . 9,Va. Hy. ft Pow. 5s 12 do 6s iW. Pac 5s. . . STANDARD OIL 0 Anglo Aran Oil. 63'Bucaeye PL... 30 Eureka P L . . lOjllal hig Oil . . . . lO Humb Oil ft Ref ISOOhio Oil 1283ilmp OU of Can. 10Ind P L 5800 Int Pet Co Ltd.. 265p(agnolia Pete . . 20'N Y Transit 10Prairie Oil ft Gas 80;Prairie P L. . 208 O Kins . . SOfSonthem Penn Oil 32400 8 O Ind ... 700lS.f Ky new 2500fg O N Y new 145!S O N Y lOjS O Ohio . . 250jVacunm Oil . 2900 do new .... 4100 3 O N J new 85 64 H 81 98 86 72 87 101 67 4 78 77 79 83 75 57 44 68 92 86 69 97 103 67 61 80 95 86 88 98 83 12 97 74 74 78 97 53 100 41 80 91 89 V 82 76 79 92 91 82 104 , 80 108 90 98 86 61 82 " 93 75 69 70 90 94 40 104 83 84 61 96 90 100 64 75 7 76 ioo ;io 82 106 88 76 89 97 91 89 91 80 60 84 6 51 54 89 23 87 108 87 14 fc6- 62 08 92 91 73 S 109 1 OO U 110i 92 91 36 97 ' 82 50 95 107 85 03 81 98 i 86 72 87 100 67 04 78 77 79 83 75 57 44 67 91 86 69 96 102 67 61 9 05 86 88 98 82 80 91 S 82 76 I 79 92 91 82 104 80 108 90 98 85 61 82 92 75 69 70 90 94 40 103 83 84 61 98 90 100 64 75 I 82 lOo SB 76 80 87 91 88 hi 91 80 50 84 6 51 ft 89 123H4121 1 67 lib" 108 87 87 62 98 92 81 74 109 100 110 92 93 35 97 82 50 95 8f 80 62 98 92 i 91 l 73 109 100 110 ' 91 91 85 97 82 50 95 107 84 63 '81 98 86 72 87 100 67 94 78 77 79 83 75 67 44 67 91 86 69 96 102 S 67 ' 61 90 95 86 87 98 82 ISSUES 1 94 94 51 245 831 119 95 23 233 176 670 295 593 200 20 94 92 51 1245 ' 1324 115 1 95 1 22 t226 175 1670 1294 1593 200 127 121 20 94 94 61 245 326 . 116 ' 95 22 226 176 670 294 593 . 200 123 110 jl08109 49 48 570 558 540 1540 655 645 42 I 41 45j 41 48 1. 560 540 648 41 43 FRUIT SITUATION , BETTER IN CAL. By Linn O. Imoeen San Francisco, Oct. 23. Warm, spring-like weather has prolonged the truit harvest in California beyond expectations and permitted prune, grapes, peach and ; tomato growers to salvage much of th fruit that seemed doomed after tbe rains of a few weeks ago. Tbe shortage of can continues, although the situation has Improved somewhat. . Grape growers say their losses will be heavy in spite of the efforts of the railroads to relieve the latuation. The embargoes placed on shipments by some of the Eastern roads have added, to the farmers' troubles. The influx of new residents from the Cast and Middle West has served ta make tbe hous ing sitmaUon more acute. raw wooi. rmcEs strong B08TO::MARKETl BEMASD GOOD Boston, Oct. 23. Raw . wool prices shewed ao sigsi of weakness today and demand was excellently distnbnted throwjfaout the list, Tbe fleece wools were in special demand. Some pare bases of today's tall dips were reported at stront? prices. ' The total volume of Texas) clip is estimated st about S.OOO.OOO pounds. Pulled wools are in good demand with prices very strong. The foreign wooes wen reported firm, today. Ckkafi Dairy PrnsiBt-e ' Chicago. Oct 2. (L X. S- Batter Receipts .7732 tabs. Extra. 45c: extra tints. 41 fc 4S r: firsts. S6tg 38 ec packing stock. 327. i"Wv Eggs Heceipta; 6256 esses. . Misoeilaneoos. S035c; ordinary firsts. 28 9 30c; firsts. 31 SSc; checks. IS 21c; dirties, 21 J 32e. Cheese: Twms, new. 25 c; daisies. 25 c; Toong Americas. 25 6 Sle; brick, 24 425vae. i' Uve pwultry T nrkeys, S5cj roosters, 18 e; fecM. 21; docks. 22e. WALL STREET STOCK QUOTATIONS Reported r Overbeck & Cooke Co.. Board of Trade Building . Sale. I STOCKS; i lOOjAdvaace Hum SOOlAdasa Exprean ' 5 001 Agr. tbem . . . . .. do pfd . . ' SOOjAjax Rubber . .(Alaska Gold . .... .f Alaska Junes a . . . 4 700 Allied Chem 1 5 00 i AlUe-Chalmen . . . ..... I do i.f d 300 1 Am Beet Sugar.. 60t)jAm Bosch 3450Am Can Co .... 300t do pfd 6O0;Am Car tt Fdry . i do pfd , . . . SOOjAm Cot Oil i . . . . lOOjAm Drug Syvjd . . 100 (Am Hide ft L. . 110OI do pfd . 70OiAm Ic . . 8900 Am InU Corp... 1700Am Linseed .... 10U do pfd ........ 8300 Am Loco , do pfd 8700 Am Saf Razor . . . 5400 Am Ship ft Com. 4200 Am Smelter 4001 do pfd 600 Austin Nichols . . i . Am tl Fdry 1300 Am Sugar 100 do pfd .... ..... Am Sumatra .... 4200Am T ft Tel. . . 1000; Am Tobacco . . . 12001 do "B" 7400Am Wool do pfd do N P pfd ... . 800 Am Zinc 3900 'Anaconda ...... 6001Asd ' Oil 4 5 00 Atchison 1500i do pfd JlOOjAtl Coast Line. . 5300 At Gulf ft W I. . 22900 Baldwin Loco . . . do pfd .- j 52O0 Balto ft Ohio..." 100 do pfd 1 8700:BamsdeIl Cor "A" 100 do r" 5100;Beth --Steel "B" . . IBoorH Fish .... 1200jB R T .' 900 Butte C & Z. . 700l Butte & Sup. - . 500. Bums Bros "A" t High. I T Low. 1. Bid.; 17 17. I 17 80 I 79 1' 79 1 ttl 95HI 85 1 141 I4 14 10001 do "B" 700Caddo Oil lOOOiCalif Packing . . ' 2500Cal Pet I do pfd 2200Callahan Z ft L. 2700ICanadian Pacific . , 1900 Cen Leather . . . 1400Cerro de Pasco. . 7900 Chandler Motor 1200 Chi ft N W.. . . ..... Chicago Gt V . . 300 do pfd Chile Cop 2100 Chino 600 C M ST P-ft 6700 do rfd , 6300 Coca Cola , 330O!C ft O - 200 Colo F ft I 300 Colo Southern . . 2400lCol Gas ft Elec. 2000 Columbia Graph . 2100 Con Gas 7800 Cons Cigars 100 do pfd ...... 1700 Con Textile 13200 Contl Can ...... 12100 Corn Prod 100 do pfd 13600 Cosderf Oil . . . : 9800 C R I ft P 300 do "A" pfd 600 do "B" pfd 04U0 Crucible . do pfd 500 Cuba Cne 1800 do pfd 600 Cuban Am 8ug. 1700 Davison Chem .. IOO Del ft Hud .... 2900 -Del ft Lack. . . 1400 Dome Mines ... . 4100Elec Stor Bty . , 2600 2100 800 4600 I Fed 1100 Endicott Johnson Erie . do 1st pfd. . . Famous Players Mng ft Smelt Fed M ft S ;d r niK 4 ire . . . . . 1200Gen Cigars . . . 700Gen TSlec 151100Gen Motor.... 100 do 6 per cent . 184t)0Gen Asphalt ... Uliddin Faint . . Goodrich T ft R Glen Aldcn . . . KOOTirenhv 550olGreat Nor Ore". . 58001Great- Nor pfd. . .... iGreene Cananea . 4600ltulf S Steel. . . . 4400IHouston Oil ' . . . 700Hupp Motor . . . 600! Ills Cent 1200 Inspiration .... .... 8 49 ....I 75 iu 189 25, 6 13 73 111 14 55 iis"" "8 22 tt 1 104 84 79 106 123 162 159 100 18 62 122 108 93 121 9 141 64 87 74 17 7 33 138 50 85 61 " 8 '' 147 40 30 .60 1 15 1 23 50 '80 76 31 ioo '. 2 f 144 39 'io 98 131 50 45 100 91 .85 22 39 iii ' " 39 58 88 15 24 101 '57 "so'" 183 14 8 62 100 Int Ag do pfd Interboro do ptd Corp cm 200!Int Harv .... 3000 Int Merc Ma . 1 1 000 do pfd .... 4O00 Int Nickel . . . 3200ilnt Paper . . . ..... I do pfd .... 1700llnvincible Oil . SSOOjlsland Oil . . . 1600! Jewel Tea 8 00 IK C Southern 2001 Ho pfd 52O0Kaner J 7O0O!Kelly-Spefld . . , 4-400 Kennerott .... 1900-Keystone Tire ' 2700Lack Steel . . . ..... (Lee Tire . . . . , 5200ILehigb Valley . 200lLorillard 620iLoew Theatres. . 500'L ft N ..... . lOOOiLima Loco 10700 1800 6000 52100 4300 300 Oil . Motor Marland Maxwell do B ..... May Stores . Mex Pet . . . Mex Seaboard Miami 4100Mtd States Oil.. 6400 Mid vale Steel . . 110OIM K AT wi 1700(Mack Truck ... 260fMont Powear . . . stOOiMont Ward 1500!Mo Pac 4300r do pfd !M St P ft 8 S M 600 Nat Biscuit . . . 5700 Nat Enamel .... 60O Nat Lead j 800 Neir Con . . 940O New Haven 9400 Norf ft Wieat . . 1600 North A mer . . . 7100 Nor Pac Nova . Sco Steel. 70O N T Air Brake. 3500 N T Cent 5400 Okla Prod Bef . . 1 500 Orpheum 300 Ontario ft W . . . 500 Otis Steel j 2900 Pacific Dev 4100 P. G. ft Elec. . 240OOtPac Oil 62000jPan Am. Pet. . . . 44200 do "B" , 9100-Penna .... . HOOjPa. Sea Steel, . . . lOOiPeo. Gas. ., 60OPere Marquette .. 10O1 Philadelphia Co. .- 7000 Phillips Pete 1200lPierce Arrow. . . . 1700Pierce tMj. .... . 600iPttts Coal 2100Pitts ft West Va. 40P. Steel Cair . lOOO'Punta Alegre..... 2800 Pa erOi.,1,... 6400iPullmn 1600?Ry Cons, 1900Rewdrng .l 200 Remington . . . . . lOOOlReplogle Steel. . 56 30 85 94 ' 89 82 22 113 37 8 109 , "14 57 13 59 r'i6 . 20 22 57 47 ,43 34 H -: 7 . 82 . . . 71 170 ' iiiH "36 54 15 234 28 13 34 17 56 -72 21 237 68 118 15 32 124 96 89 99 81 48 ii' 40 71 111 188 25 13 72 110 32 37 127 8 21 59 108 34 78 106 122 160 158 9S 16 61 121 105 92 121 25 135 ...-. : 53 "06 '73" 17 7 31 137 ! 9 '84 57 145 39 39 58 90 14 24 27 31 47 78 30 io8 2 139 37 16'" 96 128 "48 44 99 91 80 22 37 i37 38 56 86 15 23 95 'si' ' 79; 177 14 83 .68 56 294 84 92 ' 86' " 78 21 113 Sales I STOCKS I High- I Low, Bid. 1 81 48 6. 42 40 72 11.1 187 122 25 13 72 109 38 31 68 129 120 22 69 103 34 43 . 78 106 87 122 161 168 4 110 82 17 51 121 105 98 121 26 136 112 33 63 37 28 73 7 17 7 32 137 49 9 84 58 hi 94 8 146 39 89 60 .. 90 6 14 23 27H 81 48 79 76 30 49 109 2 140 38 82 10 97 129 . 119 '. 49: 44 99 90 82 94 18 36 22 37 186 138 38 57 86 15 23 97 12 56 12 79 179 14 83" . 59 13 33 56 29 34 93 2" 86 80 21 112 6300Cnited Food Prod-t ' TOOrTntted Fruit .'....Cnited Bds of NJ 88OO I nited Rtl Stonsj 4wOTJ S C I Pipe. . 1220O C 8 Ind Alcohol. r3700jTJ S Rubber 'i I 00 do 1st pfd ' ' 4 On rr S Smelting. . . BrsOOC S Steel . 600 do- pfd ....... I 2200 rtah Copper . . . ! 20O V Chem ..... , 20O do pfd ....... f S3 00 Vanadium SU . . 1"00 Tivaudou . ... ftOOWsbaah SSOO do- A pfd ... .', .. . . . A do B pfd ;. . . . 600 Wells, Fargo ... 809 Western Pac . .. 600 o pfd . 700 Western Cnkwi . TOflNstt'ghae A B. . 230wi do Eft U .. . 6t 4) 1156 158 : "M 8S rii .sh 56 64 98 98 41 49 10 106 J 122 122 1 67 65 "43 'HM "ii "ii'" 81 30 '8 ,'97 17 17 ioo" "" 68 62 IS 84 31 : 64 84 97 39 86 26 67 42 12 11 30 20 98 17 58 L13 . 99 62 8ale.f TVfK ITTigb. 51001 West aid V SOOjWhius Eagle OS. 400)WbiU -Motor. .. . 12onVhite Oil . ... 2 1 OOlWil us-Overland .'. lOOt do pfd ...i., 1090! Wilson Pkg .. ... ... ,,Wis Cen , 380' Woolworth . . . . . jWorth'gtiv Pomp. 40W ft L E ... .15 81 - .."" "48 ii" ''i ' S "42 - ll Bid. 1 5 80, 49 6 6 89 42 29 87" 12 Total stock sslea for the day -were 1,249,000 shares with 313,351.000 in LrMBERMF.XS TRrST OFFE5S HOOD BIT& : BOSD 1SSIE Tbe Lnmbermena' TrusteomiiaBy today an nounced! the ml of an issue of 810O.000 ef Hood Riser county bonds, bearing interest st the rate of' 4 per cent per annum. The fe sue is dated November 1. 1921. and is Joe December. 1941: Interest and pvineipal are payable- from direct : taxation.-; The. purpose of the issue is to finance permanent read construction, and Hood River county is shown to be in excellent condition to meet its ohli gstioos, assessed valuation . of its - properties being : f l0.18S.000- and net indebtedness, m eluding this iissne, 8S01.090. - BUSINESS BETTER IN NEW ENGLAND sidtow . smnn - I Ott 23. Measured by almost Boston. yardstick. business Improving today. '- Tbe mnchj heralded active fall husinesa matenaliaed sand it - is hard to point rpidU to singlel ' ine of industry which is hot hpw-ng betterment. The ftragged f or J two The leather market., which ha years. - has devekiped great t,-.n.tH aTwVI tfwlsw im iMt djMMtribevi as bnOV- nt. Farther urice advances for all srraoVs of leather are believed probable. Sua lactone in active, j ' t I - - Cotton goods orders are pouring in in in creased volnnte and prices show a distinct send-, ency to risej The woolen goods market jts ia 211 uc a the ascne condition. i ' I 87 1 37 8 107 13 65 15 68 ie" ' 'io'' 22 56 46' 42 34 7 81 69 169 i4i" ' 9 'sd'" 53 14 226 28 12 33 17 55 71 21 232 66 110 13 30 121 94 86 93 4400 190O 409 8. Rep. 1. ft do pfd..,, Ren. Motom . . 6300, R. Dutch Oil. . . 700 Hy. Steel Sp. . . 4306 Saxon Motors. . . . 800 Sean Roebuck . . . . Shattnck ft Aria. . . . . Shell f. ft T.. . 22000 Sinclair ..... i . IOO! Sloes Shef . J.. 640Sosi TacifiwT . . 5206 Son By ....... 200 do pfd ...... 5700 Stand Oil Cal . . . . . . . J do lad . . . . . . 80OO do Ni . .-.'.... ' mm e 4itt K jT1. . e . . 560 8tLaSP.-... 1 OOlStrosnberg Car. . 65000 IStndebaker .... . Swift a Co. . ... 400 Tsnn Cop ft Chem 14 TOO Texas Oil . . lSOOiTexas Pac . 1 420ITex Pac C ft O. . 800 Tot) Products.... 40OOTraa Cawtl OiU. lOO Tn Bag ft Paper!. 1600iCmiow Oil Dei 370011" mon -Pao.i. 200.Cn?tel AUaV . w . lOO tnited Dr4 .4, 24 24 83 30 93 94 48 37 48 12 59 89 45 30 133 8S" 35 t 32 66 85 67" S KS4 85 ' 2 79 125 219 131 109 t 49 28 24 60 14 18 147 "si" 23 24 79 48 91, 91 48 . a" 47 12 58 38 44 29 129 81 34 80 53 84 55' "s' 38 934 25 122 213 128. 109 S 48 27 23 58 13 "17 147 'so 8 83 , 1 108 13 66 15 5s 85 -16 i, 20 22 55 47 : 42 ' 34 7 S2 26 69 168 141 58, 36 63 14 135 229 1-6 27 12 33 17 55 71 21 21 67 72 235 67 110 16 80 123 05 87 83 37 88 2 33 24 10 1 80 49 91 91 48 -. 95 36 40 H 48 12 6 69 88 Hfc 80 130 14 81 84 81 . 64 84 t 2 56 117 8 87 "SH S7 n 94 25 69 123 128 214 1 28 63 130 109 . H 4 27 24 ' 68 13 79 17 148 36 89 It 'iliyfcBlaJUiD S) 1 tlOPtfCTS. rs J Vip . JOT What This Emble m Means - ' i The symbol shown abv-e stands as a guarantee of puijty for every swallow of water , taken by the people of the . Pacific j jCoast the "Bear Brand" Chlorine manufactured by the Great Western Electro Chemical Company being used generally on the Coast for the. pur pose of making the water, chemically pure. , s ' - i - y.K i . -'..'-. " - The symbol shown above stands as a guarantee of purity for the soap you use, providing it is from either erf the two largest soap factories of the Pacific Coast, both of which use "Bear Brand" Caustic Soda manufactured by the Great Western Electro-Chemical Company. - x j The symbol shown above stands for purity and efficiency in, the oil used in your motor and other machinery the "Bear Brand" Caustic Soda manufactured by the Great Western Electro-Chemical Company being used in the process of refining the most popular brands of oil. ... - " '' ' The symbol shown above stands as a guarantee thai the writing paper your writing paper made on the Coast, is' chemically pure and that your laundry is absolutely pure when it comes, from the laundry the "Bear Brand" Bleach, manufactured by the Great Western Electro-Chemical Company, being used by paper mills and laundries on the Coast 4n enormous quantities. The symbol shown abovt means still more. When a manufacturer adds a trade-mark to his goodshe bets the consumer that they are right; he banks his reputation on their merit and quality; it is, in effect, a substitute or nom de plume for one's own namtp, and he who thinks well of this name is equally jealous of the article upon which he puts his name. It is simply an added, fortification! of the char acter of the products bf the Great Westerja: Electro-Chemical com pany making for soundness and stability. j You can join the "Ber' Brand" family with commendable pride by participating in our present offering of ' -'.. $250wX)00 Great Western Electro-Chemical Co. First Mortgage 6 Serial Gold Bond! Price: 92 Yz and accrued interest, to yield approximately 7 I maturity. 1 Investigate Phone; write or call for details. g. 6. TAVARES Investment Stocks and t Bonds ' 213 PITTOCK BLOCK Broadway 6318 Portland Oaklanicr San Francisco to IS 'J. O. - Tart-ares, roruana. SIS Pittock Block, Sir: Please tend me additional Infor mation .regarding yeur Great Western Electrp-ehemical Bonds. - Name Address . . .j. T.v . . . J I , ... . Ill 1, An Investment- NOT A SPECULATION An investment, unlike a speculation is based upon the .tried and proved past. "I know of no way of judging the future jv but by the past." Patrick Henry. The Pacific Poifer and Light Company was incorporated in ! 19.10 and since that time has paid dividends on its Preferred Stock, regularly and promptly. For more than ten years! this Company has supplied electric light and power to a territory which has increased approximately '44 in population. The v. number of consumers served by the Company has increased 100 Earnings i bf the Company have shown a gradual: and steady growth." ' The Preferred Stock of The Pacific Power &, Light Companyis entitled to cumulative dividends at the rate of 71er annum. It is entirely free from' Normal Federal Income; T ax. Dividends are payable on the first-day of February, May, August and. November, and have been regularly paid since the Company was organized. The history -of the Company shows this to be an alrat-tivs investment forithe foncprvafivp inv.tnr. ' r 1 Price Par and Accrued Dividend to Yield 7 Detailed information: will be furnished upon request.- : . Blyth. Witter GOVERNMEW-MUNiaPAtCOlrsATlON BONDS -roURTH AND STARK ;POIsiTlAND 1 - ' L. - '( ' BROADWAY 6481 r ; " . SAN FRAN CI SCO-U0S ANGELES-NEW YORK-CHICAGO'SEATTLEr PORTLAND r if, -it .i'- 'f -t : ;