The Oregon daily journal. (Portland, Or.) 1902-1972, November 14, 1922, Image 16

The Oregon daily journal., November 14, 1922, Page 16, Image 16

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Newspaper Page TextTHE OREGON DAILY JOURNAL. PORTLAND. OREGON. TUESDAY, NOVEMKER 14, i:Z2. MYSTERIOUS ACTION' OF EXCHANGE IS NOT" FULLY UNDERSTOOD IN STOCK MARKET CIRCLES 10 EXCHANGE RATES NEW YORK BOND TRANS ACTIONS . r. Imported ki Tbi Jearnsls Wall Itmt Bamc HAVE CON BACK By Stuart fV Vet . , , Tor. Ne. 14. Exchange rate decidedly strong this nonunt. Inasmuch a quite a body of financial opinion Believes that the European witeartain . J tie have been tha chief r -. i 1 f 4 l. v : factor . ia tha recent decline on tha ttoek ex fttuim. the important point on the stock ex- enaug assm sonsy we that if ' this were real- foreign ex changes would have low with stocks and , bonds, but qmte the .icDotrsry prevailed. v Sterling- we op IV the tint Turkish crisis aix weeks sga. rreDeh fr ici wira . I more than a half cent 'higher: than tha ez .trem limit of their decline bat week, and Italian lire, while somewhat off on .the day ., short? .after noon, were selling at 4-Te. aa ' sssinst 3 S3 little more than , a f ortaight . ago. . , . . . Heeeesriae Nat OoneMawt - These Tecoreries were not consistent with the idea of profound eoneern in international . banking 'circles regarding either, the Turkish outlook or (reman reparation. -- Another isa- portaat point was that wuse foreign govern anes bonds were heavily sold, as they bad. bee on the previous day, with new tow records for the year in French and Belgisn ; Banes, the French international &V per eenta ' were op over a point in the London market and British consols were likewise higher.. White doubtless it atjll was true that there . waa a certain amount of genuine uneasiness . on the part of American holders of dollar ... loans, oct account of the reparationa nneee " teinty end what it might lead to, a great . deal "of the selling lepreaented the throwing . over of these foreign bond by people .who had heap caught ia tha stork market decline and were obliged in this way to, reinforce their - position. - . : '. Rail BeouHUes Weak ' i t . ' Railway bonds and railway stocks alone" with public utility tasnas were tha particular weak spot ia tha security 'market, of the day. " Word . hadTrma arrmnd early in the day that the Consolidated i plan, won Id wot be the biff ' thina for sfcereholaera. that waa expected and the feeling- quickly spread that the same misfit : be true regarding the action of other ana and electric lights ' which hare been counted upon for months past to do something highly fa vorable in the way of extra dividends or re ; capitalization schemes., ! . Fear Rail LsoJslatlan -" Fw the weakness In the railway list the street hed the old expis.ns.tioa that the sue- - - cess of the more radical element st the polls might lead to a repeat of the , present trans . portation art and the abridgement of the powers of the interstate commerce commission . ,-t. which had been ' used in recent years to gur- sntee the roads a fair return on their capital.' Hat again it eras to be eeid that tbia ia a - lone-ranee calculation at the best. . Any'raiV- - - mad, legislation at the short session of the :- 7th congress 1a obviously out of the ques- .- tiorr, and, while that matter may oome up . before a special session next spring, the chances soil are that nothing of the sort will be con niilered at Washington before thf winter of 10J3.. : " Leas InduaMal Pressure ..- - The fact that the railway shares were aa weak, if not weaker, than the industrials, al though they had admittedly not been the object of - ofer-epeeulation, ' and although the , carriers are at present in the midst of al most the largest traffic morement on record, waa proof of the complete dieresard of the -. tlsx's market for any considerations of eern inga. It was a persistent liquidation, mostly of an involuntary sort. -- Stocks Were thrown "orer not because hold-1 . ers were anxious to sell or because there i will be anything in outside business conditions I - or the financial outlook generally to create erioaa mingiTtngs, but simply for ithe reason - that specula tire acoounta. more or less oeer ; extended in the market of a month and . two ' months ago. had been undermined by the all of the last three weeks. i'.-. andt Ufa Affected ' . . The - decline affected all sections of tie , - bond market, Ijhertya going with the rest. - het waa higher, but the six-nit trance of its advanee. so far as .any bearing upon' the foreign situation waa concerned, waa of fseto by -.- the steadniesa of cotton- a market quite a susceptible aa stocks to any auggeetkm -f trouble on the other aide. The low prices in tha share list were made in the last hour. . ' . Bro scene allure Oeaalp While the failure announced by one of the old hue stock exchange houses waa not a eery : important one, is, did lead to a, good deal of auiister discussion about the possibility of other houses being in trouble. Tha indiscriminate throwinr tcx of stocks in the 1st afternoon . waa certainly not tneonaistent with the idea of i- the.; so-called "diatrees selling" which occurs - at a time when earioua Wall street firms find that as a matser of self -protection they must ' Ughtea their toad Weakest Trade Sinoa Cummar Today s market waa the weakest and alto , gether tha moat demoralised of any so far - since tha summer adraao culminated and ' -issrAhe autumn reaction set in. In the last hour pressure waa particulary severe and there Waa practically no rally at ,Z '? ook nearly 1 minute after the official end for the recording instrument to Pnnt the last of the transection. Talk of sacrifice liquidation on a Urge scale on the paat of overburdened firms- snd individuals waa tha main accompaniment of tha final break. NEW INCORPORATIONS 5)era' r- J,OT- la. Capitalised at 150 000 the Soreneeu at West Logging ccipanV of Portland filed articles of incorporation wrth the state corporation department Monday The incorporators are N. P. Sorensen. John Wiaet and C. J., Sorensen. . Other corporaooos filing .articles Monday - Coquflla bmetment Co., Coquille. Coos eoun J. K. Norton. C T. Skeela and John E. -Ross.- ' .. . ' Jr0" Jbb" A." Mannfaeturlng Co.. PorUaad: 30,90fl; T. , W. Tarei. p. W.Pick P. A. Lambert and Frank A. Rarer Seaside Heights company, Portiand ai. vuiemiuer, B. iiriffin. . Hslton-SMtl cosnpsny. Ternoaua. Columbia STteSaU. f" a "aadFTl? A raficaU ffied by tha Portland. Iron Works shows an increase ia capitalisation fron Permission is srente In fw,.. . to Deuner Bniner A Mason company of New Vork. with Bay F, Camenter f lSrJ.!!i attorney ia feet for Orasxm. . kxnna- Couch and A. M.' named T 1 Qssrsi w. n ' WaO Rtreet Wew Tork, Jfee. 14.---Today waa another day of deetining arieea hs the bond five beads suffered tha The high' smde reiki held ' enmratrvety firm but even, here large blocks couki not be dtaposed ef except at tmnceesinns. The buy ing m this eiaas of securities waa said to be for Dutch eceouat, - Libert ts aharad tha gee erai weakness. Bverr. iaauev acepa-. -tha tax exempt 3 : inrlwding tha new tueeary 4 sold belqw snd below Monday V closing. There was a notable lack of buying order. 'The decline ia the foreign Hat was led by k. twh hnafi. The 8s msda a new low. Tbesa ware relatively weak thaatheftta The selling orders which were "st the market seemed to come f rose iarveetors unduly alarmed by -the recent leases. i aboard rumor the the trench government wee about to default on Ha sinking funds paymenta for account of the 7 was promptly denied today. Brazil bonds also showed renewed weakness today, both the 8s end Ts making new lows. Here the explanation advanced waa fear of politi cal trosb'e for which, however, there waa ab solutely no confirmation. . Ccho-8kvakia Be sad City of tireater Prague 7 Ha were oth er bond te make new Vw nrieee since issue. Nor was any good reason advanced for these declines. Vnited Kingdom bonds and tha obligations of the Doaunion of Canada were conspicuously firm. i Speculative vail bonds were low. ' The Iris issues were aa example. . All three series ef convertibles. the As. Be snd the De, made new lows on this move ment. Prior lien 4s sold below 66. St. Louis-Ssn - Francisea income 6s got down sround 62, 47 points below the high of the year and only 8 points above the low. Sea board Airune s and Oreat Western 4a also sold at substantial decline. - Quotations foe the high-grade railroads like I'nion Pacific and Atohieoa gen. 4s showed lhtle change but trading in this riaae of securities was notf active. Sew Tor. Sot. 1 . Kollosnng . fioial Bat of bonds, traded ra an the New Tork Stock Exchange -today with price H,?..1? and including the close of the market. Total sales today- were fl8.251.O0O. against J15. 144.000 yeatertlay. holiday a . week 742.000 a year ago,, and 144.000 two roakJannaryl fr3 data 38.782.020.00O sgainst I2.804.824.OO0 - a, year ago. and SS.2T1, 950.000 two years igo. IvIBEKTT BOXD8 . Utw Sales.; TS 11000 High. tua. j Ckiea. SetGaedy Tire 8e "311 8 ii 08 (98 -. 2Gray Jt Dens 'cvtj - j . " Sale IN $1000 I High. 4 2 ij liberty 8 H - S do IHt ret.f. 81 lo 1st 4s l do 1st 4s rag i. .. 611 do 1st 4 s . . -114 do 2d 4 reg. 1170 do 3d 4 14a .;. .. 0 do 3d 4 s reg . 1124 do 4th 4s 60 do 4th 4 'As ret 149i Victory 4K '33. 611 do 4. reg '23. 14S do 4 m - 22i. . . 1137i do 44s rea '22. 887f;. S. of A 41.. H7!Mgium 7 i. . - 631 do Ss - . . 7 do 6s . . . . . . lO'Berges 8 1 RIBeme 8s ..... 4 8i Bolivia 8a 10!Bideaux 6s. . 80Brasil 8s. . 10040 10030 0S50 820 869 0812 872 9854 9872 Close. 10024110032" 10030 10030 0880 3860 0810 8810 0826 826 812 0812 42 t8&0 882H1 S0 9832 8840 08341 0828 8828 100301002810080 10014) 0008116014 10004 ilO(IOO) 10004 H90! 008B1 908S 0976 00301 0938 98, Bb 00 08 08 04 I 04 Hi 06 08 1 lOSHtlOSH 164 10 17 73 33 do 7 tt ret- do- large 52 . . Chlls 8s 28 . do 8s '41. . -. ... do 8s cfs. 5Chlneee Guv By 8: 10 51 11 14 11 47 1 fCuba 5a Copenhagen Cxeehoslo '04 8a ty Bsl : cfs 109 04 IS OB1 88 88H 1024 104 103 4 11084 93 H 74 H 04 Vt 88 88 101 S 102 V 102 H 52V4I 52 8K i 87 H 96HI 06 108 03 Vs 74 94. 88 88 101 ti 102 4 102 52 87 06 87, ( 84 I 85 ATiu nnr lis ml Danish Mun 8a A,107107,W do 8s ..107ilUT Denmark 8s do cfs Oe . . 83iDept Seine 7s to' 10 3 as 40 91 140 18 84 183 817 173 78 4 75 35 67 91 19 28 21 6 no 24 Ill 12 80 81 .18 44 0 ' 12 20 -63 6 08 66 3 15 108 8 82 Dmncn Kep 6s.. 05 do 5 s cfs . . .1 D of Can nts 100 du reg Of Hie . Ul'O do 5s '26. 4. -i 0 do 5s '62. . ; 00 do 5s '81 .... ,i 0O- DEI rets 5a '47 03 o rets 6s : '621 French 7 s i-. 02 do 8s. . . . . t . . . 94 Haiti 6s '52, ... 96 Italy s A . . . .1 94 Jsp 1st 4 ...! 024 do sa 4m ... " do star loan 4a. 70 Ions 6s . .(. . . . 73 Marseilles 6s . 75 Mexico 5a . . , . .. 40 Mexico 4s ..... 36 Montevideo 7s . . 90 Neth rets 6s j 95 Norway. 8s .U'.. 110 . do 6s . . . . - . . . 100 Prague 7a cfa.. 70 Queensland 7s ..1107 do s cf s . ; 10O Rio Gr da S 8s.. 97 Rio de J 8s. . . . 93 do 8s cfs . . .'. 96 Sao Paulo City 8s 93 do State- 8a i. . . . 07 Soiasona 6s 75 Sweden 6s . . . . . 104 Swiss 8s . . . 116 I'll King 6a '28 109 do 6s '87.... 102 Fruguay 8s 104 Zurich 8s . . 109 a. aiintJS'iAnieiuua A I BONDS 107 07 81 05 87 100 jioo 00 08 08 01 00 91 03 9 94 92 02 70 , 74 74 48 84 90 93 1D9 07 88 106 10O 97 . 94 94 96 96 74 103 116 109 101 104 109 107 107 107 07 81 05 88 100 1O0 09V 98 90 91 Ol 81 93 96 94 92 02 79 75 74 48 84 90 93 100 100 70 106 100 07 .94 04 06 96 75 104 ; 116 109 101 104 109 INDUSTRIAL. II Ad Exp col tr 41 1 Aiax Hub Sa. -lSjA A Chemi 7s iv A emeu ui oi.,. Bl A Sua 6s. 17iA T I rt ,' 84 do eoi tr ,: s60 121 do col 4a,. - 3 A W P 6s. i . " 85 An J II M cvtesrsl 7 'Arm at Co.: 4 d 8IAU Kef deb' 6s. . 13 Bell of Pa 7s 80l 80 8811 88 V 103 108 92) 92 7 10 21 , 8 21 2 3 81 21 1 1 16 21 8 25 74 8 3 8 34 22 43 Beth St 1st axtSsI do ref 5. , . do 6s . .. Braden Co 6s Jlrier H St. 6. I'm? s ..i.... DetroH C Gas 5a De Ed rfg 6s. . do rfr 6s. - - . . tDet Ri Tun 4 si lha Melt deb7sll07 Dup da N 7a. DuQueaX.. P 6all02 do 7s . . .;. . 107H E Cuba Bug 7s 94 ip (i T evti 74e cfs .I tlU ITsk Rub Ca 8sv-. 105 . Fram-I D db 7sl 86 Gen Else deb 61105 da deb 5s. . ... . .1103 Goodrich 1st 6s l01 tiooayear xire Bali i '41 . J. Jll 101 lie 97 91 84 97 90 98 108 99 94 99 98 100 00 09 101 5 108 101 114 96 90 64 97 90 98 108 90 98 98 98 100 90 00 101 95 88 107 108 102 107 93 93 105 65 flOS mo 101 W4 80 88 108 02 101 114 96 90 84 97 90 08 108 99 93 08 98 100 99 00 101 05 88 107 108 102 107 03 OS. 103 86 10S 100 101 114 1: ; : 400,000 popuition ' 46,900 Light and Power Customers 55,600 Gas Customers I ,139,300,000 Street Car Passengers . Owns, and operates ALL the electric ! light and power plants: all the ras olants and h tn.mii. I street car system in New .Orleans the souths j, great jndustrial metropolis i , . Gross Earnings Over $14,000,000 ; ' u?.'"' rfty Prmits rates that pay not less than 7H on values after expenses. Com pany has monopoly on all light and power bust . ness and street car transportation. . , v. We recornmend 'Me' , " 30-YEAR Fmsf AND -REFUNDING ; MORTGAGE 5 GOLD BONDS f lew Orleans Pflblic Service; Inc. A12,000,000 iaaua, aajcorW try. owur $51,000, 133.000 undeM-lyma; teala. - . -J Den. $1000, $500. I" 709 " Price 90, to Yield 0 'ffjTOLal- : BROADWAY and OAK : . OiHerahey Choc 6s. 98 O'Hollaad A L w f rets . .... ... . 83 lOJHumhie O K i deb 314 ... fl lOini Steel deb 4s 91 - 6)Iad Steel Be.... 100 - 6!laU Agricut 5,, . 78 fi 4!lntl Cement 8s. .. 108. 3 Inti Psper 3s A..f 87 80! do 5s B ...... STi 2ilnt M Jls S F 6ft. 89 I 89 evuuua iksyser -ia.jian 1104 98 85k 97 91 lOO . 77 ior l 86 98 85 97 91 IOO ' 77 107 67. 86 9 104 SjKelly Spring T 8ajl07 jl07 jl07 2, Kings C EUP aajllO . 10 JIIO 1 Lack ktteei je .-!10 )1 jl j!v,do S , - - -1 9 90 0 5;M S deb 7acfsf 96 06 j 06 3 Maryland O 8. .1103 108 103 15! do 7 a ctfs . .t05 1104 1104 afts ...1118 1111111'V 9iMex Pet 8s ..fl03 102 92 119 110 99 88 96 89 100 97 100 100 t (Mien- St Tat U i. 7 MldraJe St. cvt 5J 88 .29jMon Power 1st 5sj 97 12 MorriaX. 4aj 89 2Nat Tube 5s ...1100 8TjXET.T 1st 6s A 98 8;N Y Airtrr cvt 61100 lllXTEdOo ref 6s109 HBk'a Ed 7s ... HAi 7: Bush Trm m. a. 1 iCal Gas ek Elee 6s 94 jiian 8fn Ijne 7s 96 mm lei as. 15 n Qly eragar 7 29Cer De Pas cvt 8s, 212Chile Con mt 1. 1 V ! 98 95 , V. , " ' s9s i n too i nun as . .' SCommer Cables 4si 1 H orn wealth P 6s lit 'on Coal lid 5s 23Cb c g crt deb 7i do 8s ata 30. . !lenver tia 5 'SI 22iMUB IXJlatPS. SIN Y Tel ri.K U. 67 N X Tel gen 4a - X let ref li.. 105 105 00 88 9 ' 89 10O 97 100 r09 81 t 82- ..e 108 92 94 95 102 92 : 119 109 31 iN Am Ed 6s rctal 93 oi tr ist a. lSjNor Bell Tel 7s; . iros steel ss Pac O A P I k " ' IStPao T . T ... 561 do ref 5. ...: 1 (Packard Mot 8i 8IP Am.p A T 7l si-eo .u at V 6a. 11 .Phil Co ref a 2 Sr N J 5a 5 Prod A u.r H. 10JB .Arms 1st 6s efj lOISinn C Oil 5s! 2 do cvt 7s.7. 1 Oi An 7 rt n.snaron 8t Hp 8s. 14: P R Sag f, . 2!Stnd Milling 5s. SlStand Oil cj hkt., 48tlTCo of Am 7s llTenn a. 7jTdwtr O Co 6'J 34 .11 1 13 1 26 13 38 88 Toledo Ed 1 st 7s . roiedo I-tAl' 6. Tobacco Prod 7s. Ln BAP 6s cfs. . Cn Tank O 7s. .. la Drug 8. . . U S Rub 7s.. do Ss do 3 cfs. V S Steel . t x. ' 4 i Utah Powdc I- olVs-Car I'Um K. l OS . 27 do 7sA 1 do 7s HL0 'Had war) i v ar oug Kef 7s 49iw u 5. -ss.:: 7Westhse El 7s. . 1 Winch R A 7 u 10 do 7s . . . . .. KAILROAD BONDS .,or rn es...l 88 f "1 stamp! 801, do Tr ST. a, I oo AUiB'm'ham 4s. j 66 A O L 7s - ..... n n at Bd0 l, 80 B otO 8s . ' 1 1 no z 98 78, 57 90 88 85 88 87 07 105 04 14 91 107 lOO 91 97 91 107 102 107; 90 84 105 95 100 98 102 100 01 09 9 97 105 1UZ 100 103 105 99 102 S8 103 112 108 90 88 102 100 100 B hi 92 94 103 05 107 102 07 100 96 105 98 2i J 3 10 .10 11 17 do ref As l do cvt 4 s. ao gold 4s do pr lien u. . do 4sPJ,EAWVdv "o oepJMdV( uo ss xerC div. do 3 s S'wn Mw Broadway 7th Atc I vwx OS ..... 28lBkln R,Tref cvt 4s II UO OS 92 21 87 . 15 1 23 1 2 1 1 1 65 8 61 12 0 13 18 3 5 28 Z B a T 7a 'iL.00.. s tr co efsj J a ti El 1st 6s. 1 I do 1st fix at. 2JM.R Pcoa4'e ;oiuu Term 4,.; - Jn Sou 5a lb Can Nor 7s..... deb ei;.. SiCan Pap 4s . 87 C K of Bsl 7s. 1 1(C of Ga By 6a. . 1 1 do nn K 61 C Pae 1st ref" 4 jsew Kng 4s . -: K S ol N J a, - con 6i. .. ao cvt on do gent 4 s. . do cvt iUi C A A rfa Ss! ' do SKi StC B Q grn 4sl iC B Q ref s. do 4s IU dir. . ao ext 4. V i. 1 K s i ss. . do 1st K C G W 4: C I a L 1st Rm! 85 6 10 19 9 10 11 7 10 7 38 67 7 1 -18 81 6 10 8 7 9 . 6, 6 6 10 1 88 17 CM St . Pes uo ass do cvt 4s. do rfrg 4s do cvt 6s B. . da. 4s do neh Am c n w 7s. : do 6 U. a Chi By Co Ts. v u I P ds n? rig s THAleMK. i'-m u sta 4taf v -7B e . , Y f ..! Chi W I con 41 i.eatjj 6s A. . Cleve Po T K Colo Sou 1st 4s Cuban B. R ft. af 1,J.iref6 ' "f1 nua cvt 0s uo do ref 4s D B G imn 5.1 uo rei os . . do enn - Am Duluth I & 5s100 8 llSiEria gen lies 4s ail do prior lien -4s) ill ao evt 4s B . . 331 do cvt -as r. Z do 4th ext Ss. 9 do 4s '49 . ooiw or 'i 34 ao 5S 17Gm BV7, .'ftruir Ship 11 5s , 84 2Hr Elec Hy ! ' .i? iLl ... 88 i2!Hk Tlstcon4s. 84 84 81 82 78 94 68 81 72 61 60 00 87 83 82 02 88 08 111 111 79 83 08 ' 78 57 89 88 88 87 87 96 104 93 102 93 91 107 .90 91 96 90 107 102 107 99 84 104 95 100 97 102 100 91 90 94 97 105 ioi 100 103 105 6 102 7 103 112 17 88 87 102 t 100 100 92 91 103 94 107 102 96 0t 105 88 '80 98 66 103 80 100 2 81. R 04 79 02 66 90 72 -61 I 60 90 85 83 82 92 86 98 109 110 78 .70 100100 wo I 96 86 86 59 la t n v. 108, h 08. !00 1100 (100 108 93 94 03 103 92 119 100 95 98 78 57 90 , 88 86 87 87 97 104 93 103 93 91 107 99 91 . 96 90 107 102 107 . 09 84 105 95 lO0 97 102 100 91 99 04 87 105 101 100 103 ' 105 00 102 98 103 112 108 BO - 87 102 S; O . ioo 9S 02 91 103 94 . 107 102 96 100 95 103 88 80 98 68 103 80 100 84 81 80 4 79 92 66 91 72 61 60 90 f 83 88 82 92 86 98 110 110 78 79 100 96 86 59 108 WINTER WHEAT OUTLOOK GOOD - By d. O. Heyie ' t Cow-right, 1923. by The Journal) - ..New Tork. Nov. 14- Careful check of win ter wheat planting throughout the grain dia tncs of the Pacific Novthwest disproves pre dictions msda by etat isticians that produc tion would be curtailed in that section. Acre age sown in the South west sad Middle West also has been extensive. - In spite of taw eoaa plaitita from agrk-ultur-al communities all aver the country as to the pnr ; received for 1923 farm products, there is evidence that the acreage planted to wheat for -- next year will be fully-s up to aormal Moreover, the eemdition of the fields V TI v 9 At the Pt time is f ' -Vj warrant for expecta- j:af. ''.tA'-:2u?c.J tidna of a unmnsr crop m 1928. ' -.Worthwest Aerasas Larqe A toUl of 2.997.000 acres or winter wheat have been sown in Oregon. Washington and Idaho, ; according to telegraphic reports .re ceived today. This is the greatest acreage ever cultivated in a fall and winter season ia those . states.- Oregon sowed 804.0OO acres; Washington. 1,408,000. snd 'Idaho 605,000. The total for the? 1923 Crop year compare with 2,809.000 acres in 1922; 2,986.000 in 1921; 2.827.00O in 1920. and !. O0O in L1919. -Most of th. acreage already i show ing erceilent growth, although the Walla VValla-Goldendale district suffered for a time from extremely dry weather. : Tlie Southwest also felt .the 'effects of lack oT moisture. bit- this has now been relieved, and in -most dwtriets the. sprouting has been excellent. In the meantime, ..: 3000 tons of whest a day are being shipped to England from Vancouver alone, and the movement from other Pacific coast ports is correspondingly heavy. ' The Northwest is assured : of roller thta week from, acute ear shortage.' Eastern rail roads nave agreed to rush 800 to 1000 empty boxcars to that territory at once, regardless of ownership, it was announced tndav. Thl allotment wilt be nude to the Great Northern, the Northern Pacific, the Burlington Route and the St. Paul road, in addition to the regular interchange of rolling stock, and -will . ga far toward restoring normal transportation condi tiona for grain, potatoes and other products. Demand for Farm I m piemen te Heavier Expectation of heavy crops next season is being confirmed "by the increased demand for farm implements noted throughout the entire country. Prospects of. increased buying power among industrial workers are even brighter than among the farmers, Industrial payrolls in tlie Pittsburg district alone have jumped to 31 ,500.000 a day. and managers of steel mills, mines, factories and industrial plants expect thrm to mount even higher ih the near fu-! ture. These fat pay envelopes are accounting for a decided rise in retail business in every ! section. -The New Tork Central and some of it si-j Bed lines are expected to purchase over 812,- i 006.000 worth of new equipment shortly and tha Southern Pacific will add 7000 freight cars to its equipment before 1923 has grown 1 old. There baa been no slackening In the de mand for ears, however, and others are still in excess of current supply. WALL SJREET STOCK QUOTATIONS Reported by Overheat Cooks Co. ' . ; " Bslea, STOCK! 951 95U, 4 93 87 53 30 87 99 89 95 80 95 60 82 78 83 67 63 73 82 1 107 107 78 81 82 82 90 112 99 74 101 103 93 86 106 08 101 87 110 49 74 85 46 67 44 46 92 41 91 r 1m ;...119Jl09 kW. deb Bj 12 T'11 10 10 ' 2 80 90 135 120 142 14 112 4 Hud M ref As A H AM sdj lno J B9 111 Cent SHi do 4s west lines do 4a J Met cfs 4a atal nt B. 'r crt TS wil do ref 5s i . , . . I do ref 6s fckrs cfsi do 6s wi ... . ,7j Int Q 1 mM Km si 111 do lr x, 12!.K.C 33!" it 4'4 KW 2d 6 .B.8 i aj g aen 4s , 1 do deb 4 s . . . 8 Lehigh V of P i o 4s ... 82 100 83 80 18 98 73 78 78 81 89 69 82 84 77 93 92 91 ; 85 87 52 80 86 99 89 95 80 95 60 82 73 88 66 62 72 81 61 107 106 77 '81 81 81 ga 112 99 74 101 102 92 85 103 98 100 87 no 48 74 86 100 44 53 I 48 44 I 92 41 91 84 ,.9t . . 83 - 84 81 58 ioe 88 79 12 95 - Tl 71 78 60 89 69 82 84 77 93 .82. . : !' 95 94 85 87 53 30 86 99 89 95 80 95 60 82 73 83 66 62 72 81 61 107 106 77 81 81 81 BO 112 99 74 101 .102 93 86 109 ' 98 101 87 119 48 74 85 100 44. 64 43 44 :? 91 109 100 11 84 91 83 84 -81 168 100 83 79 12 95 71 71 78 30 . 89 82 . 84 77 . 93 92 tl 59iAdsme Exp . .--. . . lAdesnce Buss -. - - - . L dO Pfd .. . . -r 1 lOO. Arr Chen . . . aOOOiAustln Nichois " 1500'Aisk Buhber , v. tAbvike tii-kl 240OAtaska Juneau .. 1 6701! Allied Clwm t . . 5900 Allis-Chalmer ,. , 0O o pfd ..... . . eoOIAut - Beet . Suttar. OOOiAnt Beech . . 2i!600 Am Can Co 100 do pfd ISOOiAm Car Fdy . . . .... do pfd ....... 30 Am Cot OA uo Am Irug Synd . . ttonjAra HAL,;.. '.SM fd .'2500 AS:. Ice .. .... 84O0(Am Intl Corp High, f Low. Bid. i 7St 75 75 ..12i 1 12 i 23 lOO 83M lOO 1 700 34001Am; SAC 330O . 300 100 3S0O 4200 600 310O! 29O0! 24O0 5700 300 " "soo 80OO Am l.rnseed dc fd . , .v Am i.oeo do t;fd . Am 8f Baser.. Am emelt . , . . . do pfd Am Snuff . Am Steel Fily . Am Sug ..... Am Sumatra . , Am Tel A Tel.. Am Tobacco ... Am Tobacco B. . Am Wool do pfd Am W P, Am Zinc Anaconda pfd. , .lOOIAssd Oil 1 SOOiAtehison . 200 do pfd 1OO0AU Coast Itne. 1 800!Alt iulf W SBOOO.Bahiwin Loco. ... . . do jpfd I. 18300; lOO 290O 400 102O0 . 800 2900 B 0 do pfd . . Barnsdell Corp A. do B Beth Steel B. . . Booth Fish. . . , . B B. T 200!Bntte C X . . . 1800 18001 leoohdo B 400 '400 5000 100 1900 50001 2400 Butte Sup. Burns Bros A.. Caddo Oil . . Calif Packing Calif Pet . . do pfd . . i Callahan Zinc U Canadian Pac (en Leather Sales.) 5 I. A N Ss sti, div xiumg ist ueo as 5Ig Isl unified 4s 6!Long W ref 4s. . 0LN unified 4s 1;L ft O ! t - Sit. A X 3s StX. div 12!LAN'8RM on Jt 4si JOiljOUftl A N W Ss IP Man By con 4s. . 14 Mkt St By con 5s i High . J Low. Close. lliMSL 1st rfg 4s 8 MK AT 1st 4s. . . 10 do 1st 4s cfs . . 12 do 4s B w i '61. 57 do 5s A w i . . . 244 do sdj 5s w i .. 10 M Pac 6 23 do gen 4a . . . . . 41 Mob A O St L div 5s lOjMontl Trm ref 5s ll.l.NOrU A NK4s do T&M inc 5s .81 21 do 6s sA. . 15IN T Cent eon 4s. 83 do deb 6s 144 do ref AirapSs sCJ 1 NT a 11 K rfg imp 4s I 86 141 do gen 8. . .1 77 5 do 4s .... I 00 17 do MCcol tr3s( 73 2 JiYChi A St L i 1st 4s j' 93 L do deb 4s j 88 14JNTNHAH deb 6s. 78 1 do deb 4s. .... .1 58 Z do deb 4s 46 22 N T Bys ref 4s.. ( 32 4 no aj os i 7 14NAWRR con 4s. .1 88 12 do evt os 116 4,Xor Pae 4s. .. 78 29 do pr In 4s I 86 1) do gen 3s I 60 Sf do refAimp 5s.. 97 BY iMljlst congtd Ss4108 l.VO W KB Nav 4s j 81 124 P L M BB 6s cfsl -6Penn BB 7s . 4 do 5s . 911 do g mg 4s . 1 da gold 4s 1906 8 do 4s " 2iPere Msq rfg 5s. Wi 86 80 80 90 102 61 81 77 64 90 39 82 79 69 83 60 99 63 95 89 59 77 1100 81 H 103 96 61 86 80 80 90 103 61 81 77 5H. 86 80 80 90 102 61 81 77 62 I -62 r4 24 . 12 8 . 4 6 20 46 19 1 1 4 JTI RCRRofNJ col 4s RioGAW eol tr 4sf R I A A L 4s St. I MAS ref 4 si do RAO div 4s. StLASF pr In 4sA do gn 6s C . . . do sdj 6s do gen 6s . . do gen S s D . St L So 1st 4s. do con 4s do Term 5s OTcrbeckfiCcckeCo. -BXOXZeU Ohleaoa Mm stccIcs. eras. Loffan fSc Bryan CHICAGO raw IOJUC AJTB 5tS A I, gold at 4s! 3 8 do adj 5s . . . . 72 do coa 6s .... .; 29 S P cvt 4s .... 68 do rfg 4 ... . 8 do col tr 4s . . 10 8 R gen 4s . . . 26 do con 5s .... 36 do 8s 106 Third Ave rfg 4 1141 do sdi 6s . . . . . II ru Psc 1st 4S '47 12 14 8 11 Ta By 5s Wabash 1st 5s . . o 2d 0s Wester Md 4s . . 67 110 99 91 92 91 96 87 67 80 86 88 71 100 77 63 9S 79 77 79 24 e 91 86 85 66 96 101 64 55 92 96 98 90 65 90 39 81 79 68 82 39 99 63 95' 88 59 77 100 81 103 95 I 86 77 00 73 93 88 77 53 46 f 32 7 88 115 78 86 60 J VI 103 80 66 109 99 89 92 9i 96 87 67 80 86 83 70 100 76 61 r 83 79 77 78 55 Vfc 21 Sl 86 85 64 93 lOO 63 54 92 96 97 90 65 90 39 81 79 . 69 82 59 99 63 95 v 89 89' 77 100 81 103 95 86 77 90 73 93 88 77 53 46 32 7 88 115 78 86 60 07 103 80 66 110 99 89 92 91 96 87 67 80 . 86 83 70 100 76 81 ?o 79 77 78 5.1 21 63 . 91 86 64 95 10O 63 64 92 96 97 90 65 iVour : -LI guarantee : Continuous in creased demand for a public ne cessity .naturally .resulting from continuous " com munity growth as sures continuous expansion and continuous div i dends for holders of ' 7 Cumula tive First. Pre f erred Stock in Northwestern Electric Company. Detailed informa tion upon request.: J. G, Tavares. ' 31 gr. Stock Sates, - 3ToTtkwraUrw loctrlc Co. ; .. B4.wy. iSwj tU Plttock 1 BJk. Kam ...... sooo 2100 10O0 4200 2500 22000 5600 1400 1400 27000 500 14000 400 1000 600 1..:.. I S . I "26 1 13J 19 1 I 78 41 - a . 36 ,84 '71 180'' ii 'UV 67 107 29 34 123 1120 7 88 t t I f "S3"! 33 1 68 Hi'' - , 18 ; i i I 8 104 28 32 - T 20. 108 42 7 31 122 . . 2900 Cerro de Pasco. . 06OO Chandler Motor. . 5400 Chicago AN W. .' 100 Chgo H W 1800 do pfd 20000 Chili Cop . 2600 Chino Sooo c M jSt P 9700 do pfd 900O Coco t'ola asoo r, a o 8O0 Ifolo F A I. . . . 400 Cclo Soutliern . . . 100 00 Col Gas El. . . . 200 Columbia Graph . . 26000 Con Gas .' 1400 Cons Cigar dp pfd 60OO Cons Textile 8800 Contl Can 1600O Corn Prod. . ;'. . . ,100 do pfd 28OO0 sde Oil .. 10800 C B I A P 100 do "A" pfd. . . . l0O do B,.ufd. 25000 Crucible ....... 200 do pfd ....... 4300 Cuba Cane. 2000 do pfd ....... 5200Cubsn Am Sugar) 8000tavison Chem. . Del A Hudson. Iel A Iju-k icme Mines. . . . Kl Stor Battery Endicott Johnson . Erie do 1st pfd 5500 Fa Worn Players t . flPed Ming A SmltJ 1800f do pfd 70OrFiak Tire ... A fiii i ' 1 ien Elec (ten Motor . . do 6 per cent, iien Asphalt . Glidden Paint . tjoodrich TAB Glen Alden Granhy . . ' . S400jGt Nor Ore. . 3700 100 10700 660O 400 tt Nor pfd. (Sreeae Cananea. lOttlf S Steel .. Houston Oil ... . Hupp Motor . . 100(111 Cent :eoo 400 70O! i Inspiration .... jlnt. Agr Corpc. I do pfd ...... ilntcrboro ..... do pfd ...... Int Harv . . . . 100aInt Mer Marine. 60OO do pfd , SSOO Int Nickel 5200lnt Paper ISOOjInt Comb Eng.. 5600llnvincible Oil . . (Island Oil 900 Jewel Tea . . . . 200iK C Southern . . - 800 do pfd , 2400 Kayser T 4400 714)0 550O 5000 100 5000 300 2500 500 .1500 2600 2800 B000 2200 1800 1 1700 100 9600 10200 9000 2400 Kelly-Srxrfld . Kennecott . . . Keystone Tire Lack Steel . . Lee Tire Lehigh Taller Lorillard . . Loew Theatres L A- N Lima Loco . . Marland Oil . Maxwell Mot ' do "B . . May Stores , Hex Pet. . .-. i . . Mex Seaboard Miami Mid States OH. . . Midrale Steel . . . M K A T wi Mack Truck 93 29 ' 17 48 113 103 92 113 23 126 ;- 48 -. 61 - 28 20 67 6 16 7 80 133 45 8 49 u . . . 8 142 35 88 0 86 4 12 2S7 2M 20 40 77 73 28 46 107 135 36 ' i i 95 126 . . . . , 48 36 '88 70s 94 84 20 27 120 133 41 64 86 12 18" 90 ; "61 11 77 174 14 82 48 si 34 88 81 70 21 84 103 12 49 14 53 23 18 42 'S2 6 79 25 65 'is 184 57 82 47 12 164 , 2L9 ' 18 ii 80 16 64 7 ' 20 53 102 '41 flS 80 1214 92 '28 16 47 112 190 92 110 22 121 27 20 66 15 . 7 S9 4 Hl29 48 H 8 'is" "f 40 84 87 37 83 4 It 26 23 25 - 38 75 1 7 26 44 101 128 34 ' io 93 128 '46 34 83" " 5 93 10 83 18 26 124 128 40 " 53 84 10 16 88 '56" 11 76 172 14. 82 44 8r 83 85 76 66 20 83' 102 11 48 18 49 23 17 41 Si" 5 78 25 82 18 183 56 81 42 12 161 210 18 ii" 27 1 52 llOdjMont Power ....' 69 J 67 46 , 31 -26 13,'- . 1 70 39 ' 04 88 33 I 8 I'll 11 122i 18 ' -11 66 104 28 m H20- 131 J "T 20, 53. 108 138 41 89 80 121 147 146 92 108 28 16 47 X.2 M00 92 110 23 121 115 44 60 27 20 66 '- 6 15 7 29 129 44 8 1 47 89 1 140 as 3T 67 83 4 11 26 23 25 38 75 71 211 44 102 2 129 84 84 1 or. 124 122 46 34 9 . 82 65 93 J0 83 18 26. 123 128 4t 53 84 11 17 88 5. 50 11 77 173 14 81 45 10 30 55 22 83 85 24 78 66 21 108 33 6 31 ' 1 ' 102 11 48 13. 60 22 14 17 19 49 41 39 31 5 78 25 62 158 18 183 56 81 43 18 H62 18,. 25 11 27 15 62 . Y 67 Kale.! STOCKS 1800 500 13 1O0 2600 2 TOO! Wont Ward 3AH MtksPse OOOOi io rfd 4MI JI 8 I A S S Ml 2T Vot Ward OOtNat F.namet . . Nat I-sd ...... Nevada Con , . ; . New Haven . . . . . Norfolk West.. ISOtKljNor Amn ...i. 2700INor; Pacific -. i . . SOOfNova Scotia Steel 100 N.T Air Brake .. 101OOIN T Central .... 8500Okla Prod ref .. . 2309Oipheum ... . SOOIOntarto West.. 1300lfis Steel....... IIOOI Pacific Dee. . . i . 1 SOO Pae. Gas & Else. 27BOO!Pacifio Oil. ... . 14200jPau Am Pet...-. 8O00( do "B" ...... .wwrnint ...... . . SOOOtPenn Sea St 1000'Peo Gas , 5400jPere Mara - . . . . - 6O0 fhilsdelphia Co 7 4 OO Phillips Pete ., 280OIPierce Arrow. . . 0OOj Pierce Oil .... 78fiO!PiUa Coal . ... 200lPitta W. Vs. 600iPresaed Steel Carl 1 6 00; Pun ta Alegre. . . . 6 1 OOiPullman . . . . , . . 41001 Pur Oil ...... 17O0iBay Cons ..... 2O00l Reading ....... 700iBemington 20001 Replogle Steel... 40OOlBep I S . . . . . 20O! do pfd . 0ORep Motors . . . 4 BOO I Royal Itatch Oil. 30O(Ry Steel Spg, . . 1300iSaxon Motors ... 5000$esrs Robocfc . . . . . . . JShstturk Aris. ris OOOISheM T Tv . 1 8 500 Sinclair . ...... .- SOOISlosa Shef . .... 10200iSo. Pacific, ; . . . 8 300 Sou Kj ....... do pfd . . . Stand Oil Cal . . do Ind' , , do N J : . i do Kr , . . . - ' . . 68001Rt Lt A 8 F . . ., lOOOlStromberg Carb. . 59000)Stadebaker .... .. . : .ISwift Co .'.. 2300!Tenn Cop Chn 2300iTexas Oil . .. . o400!Texsa Pac , oaurex.rwc j ac v 3 500fTob -Products . 150OO!Tran ConU Oil. . Union Bag pHijii 9200irnion Ott Del . . f 1 5700rnion. Pso . . !142 SOOitinited Alloy . ....... laOOTnited Prug . . . 76 THigh.) Ixiw. Bid -20 1 20 17 I IT 4i 46 i f 20) 2 J I as -109 109 13 18 24 I 24 115 113 83, 85 78 26 . SI 98 r2 18 21 8 1 0 43 84 3 46 8 .-90 28 39 41 10 4 80 41 125 28 12 77 33 23 -46 80 1 53 110 4 794 8 $1 39 89 2 6t ' 117 115 197 107 22 48 121 108 '8 46 22 20 49 12 64 I6 1 , 140 1140 a. 78 I 78 tannit'nited Vnmi Prodi 6 1 51 5 r.nnil'niterf rmt. ...n " SOOICnited Kds of NJI I - j do iffd t 26 1 26 lOOOOICnited Retail Strs 74 r.00C S P I llpe. - SOOOilT S Snd Alcohol. Kuboer . . . 2100 : 5300 140O0 21 17 49 2t 63 118 18 26 117 .93 95 2 19 22 - :, 1 82 46 87 85 47 i-4 91 "io 44 11 V 3 . 57 35 81 48 127 -28 13 6 84 . 26 47 80 64 111 4 84 iv 8 42 90 23 62 118 201 24 r 60 124 8 47 24 21 51 13 93 2 19 21 8 1 86 45 84 82 .46 3 90 e - 40 '41 10 4 56 32 125 28 12 77 83 25 46 80 "53 11 -4 79 85 31 4 89 22 61 117 195 22 48 121 ' 46 22 19 49 12 2200C S. 100 no 3o;c S 99 00O 1500 8300 600 5000 1 800 st pfd Smelting. IT S Steel .... do pfd t'tah Copper . . Va Chera , , . . , 300h do pfd Vanadium Tivaudou steel 14. SOOOiWabaeh 59UU 600 2500 200 120O1 10O 4 OOO 8000 1800 900 1800 400 500 1400 iioo 800 2200 1500 8OO SO . 10 do A pfd . An K Ilfff Welk-Fargo ... .1 90 Western Pac .... 18 -do pfd 58 Western Cnion . . .1110 West'hse A B do E A M I 59 .West Md ...... 13 White Eagle Oil . 80 White Motors . . . 1 48 White Oil ..... .1 5 Willys-Overland A 5 do nfd ' 40 Wilson Packing .1 37 Wisconsin Central) Woolworth .... Worth "ton Pump WALK ..... STAX1AB1 Oft Anglo Am .Oil . Atlantic Lobon Buckeye P L . Cmtinental Oil 70 27 410 27 62 51 j 50 . . . .1. 106 62 86 14 9 27 102 6" " 84 13 8 25 OO" 16 58 109 riiavi 12 80 47 1 89 86 - - ' 205 9 SO (Eureka P L. . i S80!Gal Sig -Oil 13 IU P L. 1433Imp Oil of Can. 45 Ind P L . . - - 8800IInU ret Co Ltd 270Magnoiia ret . . 120iOhio Oil . aolPrairie OS Gaal 0!Prairie P L lC0Scu Pa OU 27700; O Ind . 170 S O Kaa ,. 1400IS O Ky new 300 25 205 1800 30 2600 S O Cal new S O Ne . . S O N X do new . . . Vacuum Oil do new 14800S O N J new 210 37 9 , ISSCES I 20 . i 1? usl n 196 .... 143 1143 93 I 93 57 56 172 J172' 114 1111 97) 97 ;'22l 21 255 . 1248 80 302 090 (680 w 295 1292 r 177 1175 lljill44 681 1665 1 26 71 27 60 50 95 8-5 103 121 80 25 62 35 13 9 t 28 16 10 Jft 5 108 96 58 -'" IS 80 47 ;5 ; 39 36 28 203 82 -4 31 107 59 2O0 577 48 657 42 40 106 59-" 200 568 47 652 41 89 8 19 0 06 1143 98 56 172 111 97 22 249 802 08O 2!2 1T6 114 65 106 : 69 1 l00 570 47 652 , 41 39 SALE OF WINTER GOODS HELD DOWN ' .. l: . f H. at, Laufmaa . T Pittsburg, Pa.. Not. 14. Continued absence winter goods hi this ectio a ertaia extent bjlealers are saUsfiedx with tlie turnover under existrng eonditiOBa.K - Shoes, ad er. lag apparel are in ianued demand. Iran and steel production is picking dHeUUr tb,aptant 10 this immeuiaU district is above 75 per cent, and with a r,rW" "e:of prices buyers ere pacing fr rdf"f ,th more coidenee Steel JS MaadJ- market wit Z5 iZnt7 Z SL'- Soroe of largest T-r . ,dlrrv-t are on a capacity basis. Tb of railroad cars stiU is below re- Forelfra Exrhanare Market HOLIDAY TRADE OUTLOOK BETTER -.1 tart 0, - St, . .Paul. Nov. 14.-Holidsy trade pros. perta'Mircugnout .the NorthweM nsre imiwuveil grestly during the lst few weeks. TwmCitie retailer, today predicted heevv buying n the Ytext stx week and wholesalers state the mercheut are laying in stocks of ufhcnt ixe to meet thi demand. Farmers are becoming a larger fsctor in the market ss improved transportation, facilities give tliem opportunity to turn their product into ca.h, ' St; Paul tank depestta today are 10 i-f cent above tlwee of the rrresroittng periu.1 a year wgo and sevinaN aocounU lave irrown proportionately. Employment in the North west will be better Uiau in average years and werkere will be in better financial coodiUoa. - New York Nov '-iiZi v .V ' I.OOOI.-. l.nUder eablee. 82- ebec steVitng. S?'4T"Frrcble: '7i !:1 .S?2.5- kronen cables. 36.92: ehea eaniee. e.SH; check. 4.82 . Ienmark cables. 20.23; checks. 20,19. Belgian cables. 6.27; checks. 6.36 . Marks win:, i.nuaer camee. s.2- eec. beaks. if., gold bond at 96.50 looks good now whert good bonds are scarce and yields I are down, let us know. Call, phone or write for full information. s Do Mow e our -Partial Payment Plan Freeman, smith q Camp Co. sTARC " 8749 at ' ordaw-Wewtworth &(a 201 Railway Exchanxrm M ember Chicago Boaird Tntilt STOCKS BONDS GRA1H COTTON P SIT ATS LXASall WIKES TO F. Huttoh & Co, strHBEKS ALl PHTKCIPAI. KICHAKOBB Solicit Inqalries All le4al SaaarlUa Lewiston Orchards IRRIGATION DISTRICT 7 Gold Bonds j Dated July 1, 1922 Due May IS, 1936-42 Denomination $1000 Strong Features I Prjncipal and Interest payable from Municipal Taxes. - 2 -A general tax obligation of the entire district, com prising 4389 acres, appraised at l, 536,1 50, held by 353 owners.: making average holding 12.43" acres. J3 A -prior tax lien, "ranking ahead of first mortgages, iacluding those! securing Federar Land Bank Bonds. 4 Free from Federal.. Income Taxes and declaration of I ownership., ' , 5 Certified, by State of Idaho Reclamation. Bond Com j mission. ' ' " . 6 Legal for Investment of Savings Bank and Trust Funds in Oregon and Idaho. r S , Pric to Yield e.25 I3TCO.HE TAX EXEMPT . Ralph Schneeloch Company v.-MUNICIPAL li.'.r.H CORPORATION Q Second Floor LUMBERMENS BLDG. $3,000,000 First Lien and Ref unding Mortgage 6 GOLD BONDS Dated October 2, 1922 Due October 1, 1942 The Tide Water Power company does all the electric light and power, gas and electric railway; business in Wilmington, North Caro lina, and suburbs and through its subsidiary, the Stv Petersburg Lighting company, all the ' , electric light and power business in St. Pe- , tersburg and Clearwater, Florida., The net earnings of the company are near - ly three times the mortgage bond interest. - Appraised valuation of ; the properties 5 Price; 96 to Yield About 6.35 7 2S,oqo CITY OF KELLOGG -; ' IDAHO v. . - ' Municipal skewer District Ne, Z Sold onoa - Dated July 1, 1932. Due July 1, 1932. ' - psnomlnatlew 6600 Principal and seml-snnual 'interest January 1 and July 1) parable st the office of the City Trsarorer. Kellogg. Idahor - National Bank of Commerce. New York city, or at Morrii Brothers Corporation, Portlaad, Oreson... ...... i. 'rs- -., ..." : " -P: 1 riaanclal Btatesneat " -c- Artnal value (en tir city) .. 12,000,000 Actual value (Diet. No. 2)... , 600,000 Assessed value (entire city) . 1,000,000 j Asssssed rata (Iist Ho. 2) . . 250,000 i , . Population S200 - . . , WI'llK city of Kellogg has . an exceptionally good credit record. There has never: been any litigation, affecting Its finances. In this case the city has sgreed to ' purchase out of ate general, fund any or all property that might become delinquent in its special tax. Kellogg has two banks with over 1 1.000,000 deposits sad is' . backed by splendid agricultural and mineral resources. gaararrus as renews .!. Maturity. . ..July 1. 192S . . " - 1. 1924 . 1. 192 , . 1, 1929 . ., " 1 192 1 Pries. Tld. , Psr . 7 . Par - 1 Psr -7 . Psr IU, Ps ' 1 Frloa Par Amt . I2n00. . VR00. 2500. ... 2500 ' - 2600. . . . Ta Yield T7. Maturity July 1. 1928 " 1. 1929 " 1, 19S0 " 1, 1981 1, 1932 Prtea Tld. Par 1 Par T Par T Par T Par Tfa Bond & Goodwin STucker . , . tscesrssAtis -j. a UN1TC9 STATES vATiOMAl BAKK SVHDIMC - ' PORTLAND . , V . saw rajusosc) tot ctiil flSTTtt .Nr ! i i - r- i . CITT .OF,.,, , SASKATOON t , - SASKATCHEWAN ' School District , , Gold Bonds Dstad January 15, 190 ' , - Dua aanwary 1S, 19S0 ' j''. -; Oanamlnatlow S600 ": Principal and semi-snnual ioterest Jsnnary 15 snd' July 13) payable in gold coin of the United States ' ht New Tork, ' or st tha quarters - of Morris Brothers Corporation, Portland, Oregon. - .... - ....... , " . ' k . ' "IHlwallsWaWatasiissH i' V-"".' .r-'-V - j - ,. - Assessed Tahtatlon?. . V . i. . . . .. -M0.770.910.OO ,. i" - Total I e ben tare Iebt, ,1.1 79.X9.Ow ! ' . Ls Sinking Fond ....:.,.. I Sa.977.00 '. VQ) , i ' : Net fcebentsnw Ttebt. ,S , 169,300.00 ' . . Value of. School Ustnct's' Asaeu. . 1,79729.00 ' : .Ta lHti-TaUl MUto f Area S4.040 Acre '. PapuiaUen 30,000 ' j CASKATOOS is a. large marketing sad distributing center for all of Korthera , Saktchewan. . Around it is the greatest grain-growing section of Canada.' Thasa school district bonds have aa security all of the assets aad taxable resources of tha city aad are, therefore, a general obligation. ' ? ' Tslaoboaa sr Tslearaplt Orders at Our Cipanas " ( 1 t 1 H02PJSBS0THERS. CORPORATION Government and Municipal Bonds MORRIS 4BU1LDING PnTtlilTII TrTCnTI STARK ST BROADWAY 2151 xUI UdILU,UI!g(Jll Sif DErW KJXC j Ad Address