The Oregon daily journal. (Portland, Or.) 1902-1972, November 27, 1922, Image 14

The Oregon daily journal., November 27, 1922, Page 14, Image 14

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Newspaper Page Text14 tii;: c:;::g3n daily jouiiNAU i c:;tla:,ij, c::::r.c::. t:;DAY. STEEL SHARES ARE ATTACKED BY BEAR CLIQUE WITH STOCKS INCLINED DOWNWARD SALE OF SHARES . BYTlRHf HOLDERS ';' Wall Street, J lor. . 27. MJ aUtodoraed tb view today that the AacHnJw dn to intern! Mkt corxKttoas rhiefijr and ha4 very slight signm ane for tbe Business sanation ttride. ' -Taking thi for grant ed, the wnoJa justion arlr toda waa. , how near ' eompietioB waa the forced , selling "' of nvvvlnaded moH - and Individuals which fcss ? . n ? .going with 1 onbr occasional inter- motion bh u mid' - 1L ot- SptBjber. During to greater trt of the time there waa wot trie sever bbu ing pressure that sp peered In tbe Saturday . marker.. im w oo- ;c tst.-' attempt t brln about a rally did act carry very far. There waa atill a good deal of ' scattered liquidation in progress and this waa nipplemeBted br f reah . short aelljn- on the " part of the speculators wbo bad gained maen '.confidence from - their successes on this tide -dunog the Jaat few weeka. , : ' h l i " p X : "A. -a j Attack Meef The priori pel attack waa directed against - - L'niteti States Steel common end .independent ' eel shares on the contention that, while these eompaniea were doinc a large business as eoaa ' pared with" three and aix months-, ago, the . were doing it. eoeeiaUj the -indenendent pro dnrrrs. on a slender margin of profit. Whether ,w not speFWlatire WU street baa allowed it self to become too pessimistic on this aabjeet "1. 'remains to be-seen. Bat one thing was Oeite ' - - certain, namrly. that, tbe . sentiment of the " moment war very different from the eathnsi- - asm- with which, merger annonncemenia were ? ; snrwrfpeted iaet spring . and - eommer. Wall : Z' street waa airing little thoaght todar to the ' fi erenomtrs which the absorption of the Mid J": rale Steel company by the new Bethlehem eor- porgUon won Id bring, about, bat it waa- giving a ljt of thought to the big addition to. the 5,- enormous supply of Bethlehem stock, with, "the -increased requirements entailed. -i Steel common at the lowest since the som 7 mrr. extreme weakneaa in Bethlehem Steel It stocks, Hepublio Iron Steel and CrnciMe , Steel, another violent upward plunge in 8tude Z liaker and in Baldwin lioeomotiv, the Utter C carrying along .the rest of the equipments, these were the main features of -the early - afternoon's stock market-. ' Starting Raaohea Higher Onbdde the stock exchange the important t ' incident of the day was the rise in sterling above its previoua.high for the year, $4.51 made early in June- The ether Kunnxeo ex- 4 thanges. with the exception of Italian lire, were generally lower, thus making it plain that the ceases - back ef the . advance in sterling ' were peculiar to .the economic and financial . situatiia of Great Britain. - - And also so much has been said on this subject that extensive comment is nnneces-i-- psry. . It should be well nnderstood by this time that in achieving a relation between ex- ' ports and imports where it ceased to run into .v debt, where, ita , current government receipts K vers far ahead of expenditures and where, finally, it was beginning service on its -Amer-i icsn debt, trreat Britain haa done-the three eaaentlal ' things to restore Uw pound sterling Z : to the old-time parity with the dollar. ' m. i Today's stork market moved for the first V '-our or so with a good deal af hesitancy. Then X. for a. period around midday there came an . Aler downpour of setting which carried the i, leaders of the list well below their previons .. low point. The market was at its weakest . in tiie early afternoon. In the last hour priors - rallied , under - the lead of the Standard Oil " storks. ! . . A sharp run up- in .California Petroleum te . vived "rumors of a, closer union with Standard til at California. Other members of the c.fl st ? groun- -were i drawn along and closed higher on iV the day. : Rlsewhere the early losses were ma : tcnally reduced. , NEW YORK BOND TRANSACTIONS ; - ' '-, Reported by The Journal's Wall Street Bureau ' '. ' f 4 : . - fiMMs T. Mtrohea Wall Btreet, New Tort. Nov. 27. The week- in the bond market opened today with no improvement in prices. Sentiment among tK m(Im -fnetaniiMi bearish. - . Irge blocks of high- grade railroad bonds were reported overhanging the market. - While m this elaseificatiou there was. no perceptible weakness in quotations there was no buying power- and binds in any reaeoeable quanaty wera said to be for ssja aroosd present leveis. rrnancial institutions - were eridenUy intee? eated at present pricea. It waa the opinion, however,, that, when tfce turn came the, ad vance would be rapid. - . s Liberty bonds went - lower. Xjoases were aac laraa bnt . fhn tendency SO manifest dnying the past, week eon tinned unchanged. AU this time money rates have shown no inclination To auvsnce. it anytning iw swrf ssn haa twea- easier.: - j- - . Among high grade railroad bonds Atlantic Coast Use : 4s and Canadian - rae. - ueo. showed advances today. There" waa slight im rrorement sl-o in St. Paul 4s of 1825. I)w- mrnion of Canada 5a of 1952 were also very active and a trifle higher. .Boeda whieh were weaker included the Seaboard -Airline iasuee "nd dIu the sixes' which went below 58 Chicago- Great -Western 4 v the obliga tion of anotlier . so-called weak road, dropped a Mint. Ens convertible 4s. Series It. con tinued their reactioo. -St. Psal Refunding 4Hs lost more ground as did tbe conreruhie 5. Western Maryhusd 4a dropped 1 bacs no int. -- New f)aven m did the same.- ' Among- industrials. American Smelting A ReHninc 5s and Cerro De Pasco 8a went little tower while Easter Cub Sugar 1 Hi gained. Sugar Securities generally have met more favor now -that the outlook for the; in dustry is so tnneh better. Brierhill Steel 6 tt sold lower again today. Price Baovementa in-' foreign " bonds were mixed. Both French issues were reactionary, losing some of the ground gained after the optimistic report brought back from , Europe by President Mitchell of . the National City Bank. City i-ot : Copenhagen 5 H i gained. sharply. - Kolina 8s made a -new record while Brazil 7 hit advanced. - United Kingdom tlii of 1939 were very active at advancing prices, as sterling , exchange t made ita- new - high fag the year, . j , . . - . , . , . "'See TarkA Jtge-1- 2T. Following is an of ficial ht of bonds - traded in on - the New Tors stork Kxchange today with pricea up to and inclsding the dose of the market. Total sales today were S11.SS7.0Oe against SS.esS. OOO Saturday. .9.264,000 a week ago. 20. 29,0 a year ago, and 115,098,000 two yeargo. - rram. Jsnnsry 1 to date $3,909,651,000 against . 2.St84.138.000 - a year ago, and S3,40,45?4H0 two years ago. ! ..- L.IBKRTY mM8 ; (Sales in lftOOsi I KOREIifcXV EXCHANGE RATES -Corrected daily by the foreign exchange de ' - jartment of .the United States National bank. '" . Qubtationtf below (except the pound sterling) ( ! quoted on the basis ol 100 units foreign currewyw . ..: .---" , Openiag nominal rates on bank transactions: ,X I ' Draft"'-. Cable Par lndon- - Checks. Transfera. Value. I Jm. sterling. 4.50 H $ 4.50 H 4.866 l,aris-r-ranes BelgnUB' - 1'ranrs . . .. Retlin- Marks tienos -IJre Athene . . lrachmas . Copenhagen - Kroner , , Chrtstiania . Kroner v, . , Stockholm Kroner... . . llonxkanc - Currency . Japan Yen -ishsnghai Tael 7.04 7.0T 8.55 H .01 H "4.78 Vs l.2 20.28 18.47 26.91. " , 5S.40 48.65 71.10 Canadian dollar discount 4.56 .01 4.79 1.54 20.S4 18.52 26.S6 53.65 4 8.70 71.40 ..... H per cent 19.80 19.80 23.81 -19.80 19 SO 28.70 26.70 26-TO Z XT!f UFTRTOXE OF B0ST0X W0017 MARKET 8TROSG; PRICES FIRM - Boston. Nov. 27. Tbe wool market was ta- dull so far aa tradint here waa concerned to J " day. hut Jirires are being maintained firmly. snd the undertone of the market waa extremely ; strong, r; ; ;v, "I;- .,." i A fair quantity of clothing d combing tT woof Tf being bought for American account V ia indon and Australia at good price, and .eontrtrtg aignad for clips which willot be sheared untir next spring in the West have v . been, at high prices. Rerlners Adrsncei Sugar .J0- J1 T V- p- Sugar wentjip 15 rents per hundred pounds whoie- hudre? Th.DW 7-6P Sales, f " " ( Iligh. Kow.- Close, - 18 5, Liberty a Ms ... .110010 10004 10001 t do 2d 4s ... . . . 97B6J 9756 -9756 62iio 1st 4a ... 9880 9820 983 7 k 1st-2d 4 14s. HJO00 1OO0O 100OQ 620 do 2d 4Hs ... 9774 9762 9766 .14 do 2d 44s regj 9752 9746 9752 422 do Sd 4Vl ... 98S 982 9830 1 do Sd 4s reg 9818 9818 9818 1058 do 4th 44 s... 9802 9800 9800 5 do 4th 4s reg 0800 T8 9788 ' 177 Victory -4 4s ... IOOS0 1002 10028 1 do 4th Ss regl00O2 Pil0002 SO dos 4 M . . . . . iltMK2( 9910OO02 4 do 4 14 s reg. . . .1 99881 . . . . .4. .... G12;U S of A 44s.v 9946 920j 9930 FOREIGN BONDS 16 Argentine 7 ... 100Htl004 lOOii 15 Belgium ?fts a. 100 H 100 100 8 do 8a ........ lOO 994 9944 I 1 Berne 8s ..... 108 14 1(8 - 108 - 20 Bolivia 8s . . 94 t3J ' 3 16 Bordeanx 6s . . ; 77,44 77 '' 77 28 Brasil 8s .... . 9714 U0M 07 1 97 do 7 Ha rets... ft 2 91 92 7JCbile 8s '26 ... 10 1H 101 101 14 do 8s '41 .... 101182 W2i 6 do 8scfa"46... 102 H 10214 102 Chinese Ry 6s. .'. 51 30H SI 24 Copenhagen 5 H s. 0 , -88 14 894 3 Cuba 6s ....... 96 BH 954 24 Czechoslv- 8s . . 88 H 88 88 0; Danish Mun 8s B 107 107 107 3Denmark 8s 108 108 H 108 3 do cfs 6s 98 9814 98 14 . e4Kein 7e t e . . . 86 - 85 44 83 44 NTjCanada . 5 14a nts lot ' iOOJi 100 242 do 5s .... 9814 9 B9 38Dutch Kir 6s'47 93 9214 92 44 24 do rets s '62.. 9244 92 92 74Freneh 7Hs'41.. 95 94 94 44 126f do 8s '45. .... 99 98 I 98 H 531HsiU 6s, '52.. . . 96 44 96 14 9614 lJap 1st 4 44a,. '25 93 14 98 0314 7 Ldyons 6s '34 j. . - . 77 44 76 4 76 4 II do 2d 444s. '25. 93 44 2 H 92'4 44 do etr loan 4s'Sl 80 44 79 4s 80 M 4 Marseilles 6s. '4l 77 44 77 f 77 14 Mexicn 6s '45. -i . 49 48 48 4 64N"Iands rets 6e 32 96 44 954 90 4 6e!Norway 6s, '62.. lOO 9 44 I 9T liPor A leg re 8."61 9 09 09 29!Prague7 4itcfay'52l 73 f 72 44 72H SiQueensiand 7s.'4Ilfo7j& 1W7 44 107 9j do 6s efs, ,'-47. . 101 10O14 100 V4 lllRCrande deS8s'46 97 44 9714 97 '4 7jRk de J 46. 95 944 94 Ik 15( do cfs-?47..... 95 44 95 , 95 44 3 8 Paulo ry 8s.'52 97 44 96 44 06 44 15.Soi -ons 6sV "86.'. 77 44 77 77 3 I.Sweden 6s, '39. . 104 11 OS 44 104 22 Swiss. 8. '40... 11644 1144 U1i 24!Tokio 3s. '.52... ( 69 S I 69 69 205;lnited K S 44s'S9il10 44 itlO ' UOi 451 do B44s. '37. . . 1103 4 ll2 ?a 103 6tJruguay 8s, "46.jlC3 4 '103 103 44 MISCELLANEOUS AND INDUSTRIAL BONDS SIAiax Hub 8s . 12!A A Chem 7 44s. . 28!Am Cot Oil 5s. . 20iAm. Smelt 1st 3s. llkAm Sug 6s 10A T A T fit 61. 13) do col tr 5s. , . . 151 do rol 4s. . . , . HAm Wr Psper 6s! 01 AntnJUM evtOsret 2Aamonr Co4 44si lOIAIt r"rutt cvt It. 71 do 7 st sto cfs. . 10SAU Ft cvt7astacf IZIAttl Refry dh 6s.. . 8IReU of Pa 7s. . ' 3Betb St 6s.,.,. 28 do. 6s ...... 48 BrierHSt 5 44s wi. 2Bkln Ed 6sB..f. 2!Bkl Ed 7s C . : . 4 10 '-. 1 3 8 i do 5a Bkl la -Gas 6s do evt 7s. . do' 7s - '29. . P.nslk.T'rtK HAm Kal (Cal Gas. aV Elee 5s- K'ar ..'anaguay Sug 16Canad Oen 96 44 1 96 102 441102 44 81 44 92 102 11444 97 44 91 83 ' 76 844 36 86 3244 98 44 108 44 2 14 98 94 102 44 107 44 5 44 los 113 11044 92 44 93 44 9744 Aeilflt 1 44 91 4k 11 4i 11SH 97 90 44 73 8S 44 89 44 S 36 82 44 97 44 108 92 98 S 92 102 Vi 107 94 44 102 44 112 11044 91 95 44 97 44 96 44 102 44 81 4k 91 S 101 44 11344 97 44 00 44 83 -7544 S9 44 86 86 82 44 97 44 108 44 92 44 98 44 93 102 44 107 44 04 44 103 112 11044 91 99 44 9744 Sales, j IN ,1000 IHigh. Low. I Close. 33:( ent Leath gen t$ 98 441 98 44 4Cer de Pas cvt 8sll21 119 44 26 Chil Cop vt T. 109 108 44 S2 do col tr 6s... 9344 94 44 , SColo Indus 5 .. 7814 7844 S'Col O At E1.6s. . 96 44 96 44 25(do 5 sta - . .J 96 44 96 44 - e : ommonweal p tM la 1 88 :Cm As BaTHs.i 99 I 99 44 1 Comp Tb Kee "6s. 1 7 v; i 97 lOConsum Pow 6s. i 92 441 9244 iCorn Peed es- .f 85 if 84 44 ! rovll ( on 8f 441 S4 14 6Cab O Sgcvdb7sj 85 -1 84 4 16! do 8s sta t 88i 88 . 2 Cub Am Bug 8s.l07 1107 2! Denver Oa 5 -.1 874i ST44 l'Dery 7s 1 97 441 97 44 1 tDet . Ed rfr 6s. 102 4102: If do rfg 5a ,i . ..4 4 , j 9 lDet Ri Tun 444a.) 88 -l 88 !Dm lich db 7 44 ajl 07 44 1107 44 Zltlonne S-S ref 7s! 99 I VO 4 i import deN 7 441107 44 107 14 9 Doq L as P 6s...10S 1102 44 11 East Cub 8g 7 44s 94 04V4 SZitmnGiF cv 7 Ha) 93 441 S IS Kisk Rbr 'C 8a. 104 44 1104 44 2tFram ID db T44s 87441 S744 3Kran hug 7 44 s., l 01 44 1101 44 12 0eI Eleo deb sll05 44 105 3 ftien Refract s cfs 9814 1 98 44 15jUoodreb 1st 44s101 1100 44 23Keoodyear Ttre , 8s II 5 441114 44 17MSranby , Vine " ai T t 07 1 2Herabey Choc 6ai 98 44 j 44 17 Holl AL Oa rets 85 - 1 8444 elHmbKMkRdb 644 s 874 97 44 23Ind 8tl ,8s 10fl4 100H 5 InU Agr i 2IInU Cement Ss 2 Intl Paper 6s ' 41 do 5s B . . . 8 Int M Mar Sf sj 2IKeUy ' Spr T 8s , bikings Co IA 6 44s liKinACo cvs 7Hi lTIclede ties ref 5s 6'IJg A Myers 6s 18 1 Man Su db 7 44 cf 1 Msn t.ni 8s , . 2 Mich St Tel 6a 47iMidv Steel evt 5s 6! Mont Pow 1st 5s. S2NETATlst6s serA 2)N I Alrbr evt 6a vj.v x .in ret nai leNTTErfdeb s.,? 1 XT-8H ... 3l do ref s ... 1 'Stag Falls P 6s. . 7 IN Am Ed 6s rets. 1 0i Nor Ohio TAL 6s 4'Nor StP 1st 5s.. lljNor Bell Tel 7s. 3;Ont l.P Ss. . . . 2iI'ao- OAElt s. . . 2 l'ae TAT 6a. . . . .11 do ref Ss . . . . . ItPhit Co ref s. . 3Pocsho col 5s57 10.Pnh.Ser NJ Ss 33 P AlEng or db 7s .2 ProdKef 8s 21 db 7s war. ' 8Rm Arm lst6sA cf liK Brown 7 l:8aks It Co 7s.. i 7Sinc C Oil 6 44 s. 231 do 7s rrU 4 1 Sine Pipe L 6s cfsi 2jSharon St Hp 81 97 44 77 108 86 44 86 44 894 105 4 . 99 9 Vi i 95 96 44 103 lest H 89 44 98 44 98. 10O 109 44 97 44 104 44 3 03 44 93 9144 10744 814 91 44 97 44 9144 100 92 44 86 44 105 44 106 44 117 93 44 94 44 1044 98 10 44 8 218 P R Sng 7S.-1 97 44 ,8S Bell TAT $s..l 95 44 sintsnQ auuing us. i n 4 (Standard Oil Cal I deb 7s ...... .1109 uoa 12 Steel as T Co ot A 7 ........ tWX. 1VI IW1 8 Sng Ests Orient Bl 97 441 97 441 97 44 4iTenn Con 6s 4 99 t 99 i 99 12iTdwatr O Co 644s!163 s 1103 441108 SIToledo Ed 1st 7x110544 106 - tt05 7IToh Prod 7s.. . .1103 1103 1103 HDn on Cal 6s '31 97 441 97 441 97 44 1( do 6s '42.. ....10H4H10144110I 44 . liCn Tank C 7s V . 1108 44 1108 1103 44 HUntd Drug Ss . . . 112 112 J112 eiCntd 83 6s cfs.-"". 9144 9144J 91 4i 4Cntd Strs Rlty 6100 44100 110044 17iCS Rub 7 44s .. -.1108 44 1108- (108 . , 4 do 6a ........ 81441 87 T 21 d 6a. cfs... ,:.l IT 1 87 1 87 , 4I-SSmelt RAM SsllOO 44 1106 44 llOO 44 181CS SU sf 5a. . 102441024410244 SSldo reg 5s '83. . . (101 4 1 01 441101 44 lairtah -PwrAL- 6. I 901 91 28 d Lt 5s '44...1 88 f 88 lOOIVa Car Chia 6. 1100 44 1100 V, 221 do 7a sA..... 95 441 9ii 101 no cvt T44s aA i warts . . . .!. J 77 108 ! 86 44 8644 8 105-- 90 90 93 98 96 44 103 99 44 884 9644 9744 lOO .109 44 inn -974 14 44 99 93 93 91 ' 07H 8 - 1 44 97 44 9144 100 92 44 86 105 106 44 117 95 94 44 100 44 08 . 10O - 8844 97 9? 44 94 44 94 98 44.: 120 108 44 94 44 78 44 96 44 9644 89 99V4 7 92 H 84 44 4 44 85, -S8 44 8744 7V 102 94 88 107 44 90 107 44 103 93 44 98 104 44 87 44 101 44 1051 9814 101 11444 97 44 98 44 85 974 100 44 77 - 108 t- 86 44 86 44 89 105 -" 80 - 93 98 6 44 103 90 44 88 44 96 44 98 lOO - 109 44 His 974 104 44 99 93 V4 93 : 91 107 44 8 91 44 97 44 91 44 100 92 44 86 105 44 1044 117 95 94 44 100 98 100 44 8844 97 44 97 44 95 86 V. 105 44 Sales, f TX S1000 High. Low, j Close. ll do tr eo cfs '21 101 do tr es a at '21 S B la 11 1st ta 13;Buah Term con Sal 14tCaa Son 3s 4jCan Nor 7a . 401 do deb 6 44 i ui fic peru 18'C Ry Braett 7al 87 44 26tO of Ga. Ky.Sa, 6 i II 1 81 21 ' . 2 C Pact S r 3 44s. do- 1st ref 4s. . do 8 L 4s 28K3 Kew 'Eng '4s. Cea RR N J. 6s 2iC RR SCoGiU iO A O evt 6a. oo gen 4 44a. i evt-. )e 5;C A A Tfe Ss.. is pas SHI .n C B U gen 4s. .22ICBQ ref 5s m:. Si do 3ds Dl div '49 JS C A E X 6s 'SI.. 3KI Q W 4a '59 . : . 5IO-1 A L 1st 6s'66 8 M A StP 4s '89 d 4 44s 89. . do evt 4 Hs '32 do rfg 4 44 s ser A 2014 .... do evt 5s B 14 do 4a-2. C M P Slat 4s'49 V W 7s '80.. do gen sg '87.3 CM Ry Co 6s '27 6 24 23 34 39 1 1 .14 2 -4 37 3 CKJAP gen 4s '88 do rfg 4s 84.. C T H A 8 1st A: - I - ref '6a , -. A 1 OStPM A Oc 6s X Uttt V Bta 44JS.t 1 4o CV4 ..... . 21 do aen 6a ... - 2Chi A W I COB -;wstt, d 4 44 si i oo a . . .1 3 Cleve Tin T SVt.l 10 Colo A So r 4 44s 4 Cuban B R tt . J n do 1st I r 744 J ueta, Hud evt 5sl , ni on b44s ....... 13 Den ABO ref 5s . ni fla run 4s . ----- 46 Del U By 4 44a . 86-41 83 441 83 , 1 87 I 98 74 6644 -834 82 44 87 98 11141111 111 79 10w 91 86 8244 6744 10S 91 9144 84 44 874 52 44 254 87 44 44 8144 79 44 3 874 9244 72 44 64g 6144 894 -80 44 6844 10744 194 77 44 814 2 6 Erie loon7s ex'30 3 39 do gen. lien 4s'96 18 do pr hen 4s'96 46 do evt 4s 8A"63; 151 do evt 4s SB"53j IIGTrk of Can 7s 40 : lit do 6s '36.-. . . . 40iGt- North 7s '56 1SI da 044s "62 . SICBAW deb B perpl OiHstMref 6s SA'67 23 H A M ad ino 5si ! 18 Cent 6 44s 101 do rfg 4s .--.. - l do . . . Ol .a s . 15)11 Met rtfs 4 4istj I2ilnt BT ev 7s wi . 891 do ref 5a . .'. . :, i6 do rf 6s bkrs cfs 8t do 6s wt . . . . . . - 85;Int Gt N ad 6e wif ljlowa Cent lst-s 18f do ref 4s ...- lOiKCFtSAM 4s .. 4K C Term 1st 4s) 2i 80 10; 1 1 15 1 10 9 LEAW 1st 6s. LSMS 3 44 a.... LehValPa cn 4 44 si uentgb v 6s . Long Is gen 4s do ref 4s. . . . LAN 7s do Unl 4s ... . do St L div 82 44 106 88 11244 89 44 73 44 10O44 103 85 44 84 44 1W4 96 44 100 44 48 14 73 44 85 44 102 44 44 44 56 43 44 43 , 11144 108 1084 .101 11 823 6ft? lOO 44 85 88 44 83 44 12 96 44 19 77 44 7T44 35 77 86 7 1 Louis A N W 5s. 2VaCCcvt 7HsA'37 88 44 i war Bug Kens i im t 81 W. Pa Pow 6s "881 84 103 44 154 107 44 101 6 44 lOO- 944 104 3 do 7s '68. itW V 6 44 '36 . 221Westhse El 7s '31 1W B A 7 44s '41 . 4iV Spen St 7s'45j IS Wilson 1st 6s '41 1 do cvt 6a '28. .1 19 do 7 44 '!.-, 91 83 192 44 94 108 44 109 44 106 44 If 1 95 44 99 44 944 103 44 91. 88 100 44 9544 91 8344 1024 94 108 44 109 44 106 44 101 95 44 100 94 44 103 44 " RAILWAf BONDS' 34 A T A SF gen 4s 88 H 88 441 88 44 '''.'Ti do cvt 4s . .... 81 81. - 81- 1 All B'ham 4s. . 66 44 844 66 44 11 ACL 1st eon 4s 87 844 8644 .43 8 4 O 6s . ... . 100 44 100 44 100 44 41 do ref 5s . . . 84 44 84 84 80 do cvt 4 44s .. 80 44 794.794 32 do gold 4a .... 80 44 86 80 44 35 do pr In 3 44 s . . 94 44 94 94 8 do iiPUWTd 7744 774 TW 5 do T A C div 66 66 66 81 do 344s 8W div 9144 91: 91 .l;Bkbn R T 6a efs 61 51 51 . 1B R T 7s ( 88 441 88 4.1 88 44 ORDAjl-WErTmOrTTH ft tg 1100 441100 44 201 Railway Exchanrm UMst CsUcavars) B rdl af Tr,l STOCKS BONDS -i- ; . ClUgj conCai f&lTATE l.A8EJ WI&ZS TO rJ. b Hutton & Co, MEXBEB8 ALL . '. KXCHAlfGEH . -. , Solicit lajvirt All SVai - avSwerttlM . ,1 "Tested Ihvekihents" : PACIFIC POWER & LIGHT COIvlPANY - fTtHROUGH years "of conscrva-' -' J five management and sound financial policies coupled with long records of good earnings hydro . electric company "securities are rec ognized as "tested investments." ' For instance, in the case of the Pa cific Power & Light Company, the ie arnings available lor preferred ; stock dividends for the past 11 years have averaged more than 2i times ;the preferred stock dividends paid. This Company's earnings I to the ! amount of 76 are derived from the sale of electricity in a well diversi fied field. Lighting, irrigation, in 4 dustrial power and a wide variety of 4 Other uses'-'making up the segrega- - tion of this company's electric load. ' Within the past 10 years the num ' ber of consumers served by the Com pany has increased over 100. The t reason for this increase . is sunder- k "stood when you consider ; the cities f and ; towns in which the ' Company ' operates represent some of the most ! thriving districts of ; the Pacific i Northwest. ' ."vV:-'4;- S 4 Hood. River, The Dalles, 'Pendle , ton and Astoria, Oregon ; Walla .Walla, Yakima ; and 1 Vancouver, ' Washington, are" the , communities served by- this Company. We recommend - for your invest ment the Pacific Power & Light Company 7 Cumulative Preferred Stock with par value - of $100 per share at par and accrued dividend. Write for full information today., I GOVERN ME NT MUNiaPAL-C0i;PCIUT10NECNDS ' 1 FOURTFi AND STARK, POrTTLAfaD f x... f . BROADWAY 6481 ; ..." -: " " , SAh4 FRANCISCO-LOS ANGEIXS-NEW Y0RKCHICAGO-SEATTlPORTiLAN O i 12 - 2 1 1 96 6 5 25 12 63 2o Man Rt con 4s Mkt 8t Rt eon 5s Mich Cent db 4a Mil El RjALrfSsl oMin St L con Ssi do 1st ref 4s do ref 6s . . HStPASS If 644s UK A T lst4scfs do 5s A w i. . da sd Bs A wi. do 6s C wi. . 19!M Pae 5s '65. 17 3 1 1 26, 7 117 44 8 6 1 5 do een 4s 75. MAO ext 6a '27 ii Tr ret 6s '41. as 1 4s '51 N C A StL 6s 28 U ter 4s '58 . doTAlf ine 6s SB I C con 4s '88 do deb 6s '35.. X T C ref A imp) OS ser lj ZOIX. NTCAHR refAimp do gen 3 44 s '87 . do 4s '84 .. . . Urc L 8 col tr 3 Its '08 X Y C A StL deb ss 31 : Y XH A H d 6s ! do deb S 14 a . XY O A V gen 4s! do raf 4s . St Rys r 4a t e -c do sdj 8s ; .. . . I XT W A B 414s! 7844 9144 103 84 44 80 109 oo . 60 44 77 62 44 8944 89 44 914 76 44 86 44 33 1084 8544 8244 S744 -93 44 U 44 63 103 44 88 44 5 994 77 7644 8144 103 44 98 44 86 44 76 44 8944 72 44 8744 78 4744 67; '74 31 644 44 11 -784 864 99 44 91 8544 82 44 67 44 108 91 91 84 44 8744 62 44 25 44 87 99 , 8144 78 &9 9T 7 724 5Vs 60 8844 80 684 107 10S " 77 8144 8144 82 106 8844 11344 994 7344 99 k 10 103 44 85 44 83 44 104 95 100 44 46 s 73 854 102 44 43 - 65 ::; 412 42 111 44 102 44 1094 100 4i 11 8344 68 44 106 44 85 54 83 44 -88 44 1044 85 44 74 44 744 7744 4 77 85 774 8144 4f 94 44 78 44 9144 108 84 44 7944 106 44 00 ? 60 44 76 62 44 88 -8844 8144 76 44 86 86 - 103 44 8544 82 44 57 95 88 44 6ft H 103 44 88 44 S9 -99 44 77 76 44 8144 103 83 44 8544 7644 89 44 72 44 8"7 44 71 4744 67 74 804 644 44 8644 . 83 44 82 44 87 98 11144 110 79 874 99 44 1 83 44 L 8244 67 14 tt8 91 91 V 84 44 8744 52 44 25 44 87. US 44 794 50 44 97 72 724 6514 60 88 44 BO -6844 107 44 103 -7744 8144 ,8144 S2 44 106 884 11244 9 44 72 44 90 44 lOO 102 85 44 84 104 95 44 10044 46 44 78 854 102 44 43 85 4f 42 48 ill H 102 44 109 44 10014 11 82 44 58 44 1100 44 85 44 83 44 ,88 44 1044 85 44 74 44 .74 44 77 44 -48 7744 35 774 8144 94 44 ,78 44 9144 103 84 44 80 106 90 60 44 76 V 62 44 89 894 9144 76 44 86 85 t. 108 44 85 44 82 44 57 93 98 44 6144 108 44 88 44 69 4 77 78 44 81 103 95 44 86 7644 89 44 .72 44 87 44 71 47 V 7 : 74 80 44 44 44 - galea. tS tlOOO-- Norfolk A S g 3J ;s A W R B e 4s J High.' f Low. 1 CTowe. 68 15 do evt 6a . 38 No Pae 6a B 2 do 444s . 7 do pe in 4i , . - -5 do cen Ss . . . 5 do ref A 1m 6s " 24!Or SL acori 6s 46 Hi do rfg 4s '26. . SOiO-W RN 4a '61 SSIPari LM Asefs'SS 6 i!3 i 10 K 23 IS ;127 Penn 7s '30 do Ss 88. do sold 44t do s m 4 44s'65 SaJMA3RAQdv4sl 88 4 StLASF pr In 4aAI 70H 60 44 88 in 1ST 44' 874 85 60 44 97 1034 91 44 80 44 784 10944 1 0O 381108 8044 3 do 6aB. 121 do gn 60... .. 42 do adj 6a..,.. 11 do ine ...... 2 do 5 44iD ..... - 8 St L 8. eon 4a.. hj5 si do Term 5s . . i 4 OjBAU goM sta, . . 1T1 do-rtg 4is.-. ; 641 do adj 6s.,... ,128! do con s. ,,, 8S P rvt 4a .... : 12 do rfg 4s. ... 129 &x gen. 4s . IS 1 29 6 do mt Third Ave ad Ssi I mon Pac 1st 4a v Ry 5s Western- lid 4s 4jWest Shore 4a .. l10O 600 '885 STANDARD OIL ISSUES 1 lOICreseent P 3a) 80 20 1750 163 Ang Ams CHI. Atlantic Lobes t Buckeye P : L... r.ureaa r u i Gal Si,- Ott. ... 01 P L...v. Imp Oil Can.-. Ind - P I.- 6500InU Pet- Co : Ltd 1165 SOOiS'at Tranait ... .. 65 10 Maamolia Pet S T Transit... Northern P- L. , 325KUUO Oil 80 - 164 . 20i 30 2400 S O. 35800 40 500 1UOO Prairie Oil A Gas Prairie P L.. Sent hern Penn (Mill 70 6900 1801 3800 5000 Southern- P L. . . Cal S O Ind. L.-.g. S O Kansas .:, . do ''-.JieW.': S S Kr new ... ; S TH'-.Ta. '.'.. S O N T new.'. ; do new , S O M i ,we 85 44 lOO 7444 60 44 9344 77 44 78 441 o s 8844 21 ' 59 44 81 864 67 - 10144 64 144 9T 63 82 60 88 1124 107 14 8744 , S444 60 44 97 1024 91 44 80 44 72 44 108 4k 894 108 44 s-2 44 60 44 85 44 98 44 73 44 S84 92 44 77 78 44 64 36 44 20 44 85 $4 8014 -8; 66 44 1044 644 81 H 86 44 62 44 814 1844 6 44 109 41 . 87 65 44 162 111 106 - 21 2SO 24 44 204 125 287 635 30 10O 86 44 11144 654 4144 168 510 4S 590 ; 88 7S 1844 644 10744 41 . 97 160 108 44 10544 304 225 24 44 1202 125 279 651 i 4203 170 10O 65 44 10744 54V 41 106 44 492 43 44 586 36 44 S7 44 Unsettled Market For Shares Shown On the N. Y. Curb By Wllllnm r. Heffsemao Kew Tort, Nov. 27. The Curb Exchange today was again very-much unsettled. ): Standard" Oilsi which were the prominent leaders on tlie downward side, rallied in most instanes from their - low prices, bnt special stocks continued-to fear the effect of forced liquidation and short selling Standard Oil of Indiana advanced from the 1 prevwaa close and Standard of New York, otd, and new, gained gronnd.- Ulinoas Pipe line, aellinc ex. the SS dividend, held firm snd the decline in Magnolia Petrototun, Prairie Oil and Vacuum Oil, appeared to have ran, its course. Ohio Oil, however. reached - lower levels. - --- -' .. Gulf Oil of Pennsylvania was a weak fea ture . among the . independent oils and lust over 2 points when selling orders in .rather largo Quantities were thrown, upon ' the . mar ket. u Mammoth Oil, . Class A, waa up a point at one time. - - ' Several newcomers in the Industrial sec tion nude their appearance on tbe tape today. lhirant common again featured the Motor gronp, reaching 56 44- on continued aeeumu-. lation. with a later reaction of about av point, Others - of this group that were active and firm were Peerless, Hayes 44Tel and Beo. New Fiction Publishing, which has ap peared, in good demand recently, wag offered freely in the early trading hut made up soma of ita loss m the afternoon. . Will Sell Brio, netting- PlaVvt . -Centralis, V ash., Nov. 27. On Saturday. December 9, the real estate plant and equip ment owned by the. Centralis Brieueting com. pany will be sold st auction under an order issued in tbe superior court. E. H. Oolson. receives for tbe company, will conduct the sale." ..'-.. - -.; .i . 88 11S44 i 107 44 874 84 44 60 44 87 1034 81 44 80 44 73 108 109 J 108 44 80 44 82 44 8644 98 44 74 44 59 4 82 " v 7844 54 S7 20 44 63 44 0 4k 854 66 44 1004 54 44 81 44 96 44 62 44 8144i 18 44 64 167 44 41 87 65 44 160 I091i 106 20 44. 229 44 24 44 202 125 285 651 29744 170 100 . 55 44 111 654 .. 41 106 44 508 43 570 36 44 87 44 WALL , STREET STO CIC QUOTATIONS V'.:- .-: ' a ' : . Beportsd by Overbook A Cook Co. "i. '. , '. r'- ' "'.;' ! ' " SOOjAdama Express.. l0OjAustin Niehoas. . . : - SOOjAgr Cham. . . 4001 do pfd ....... SOOjAjax Knhber.. . . . . . .VtAlaak tiotd .... SOOIAlaakWuneau . , . . .(Allied Chem -,. 00 AUuv-Chalmar .'. . . , . . jdo pfd ....... 4KU -na uses agar auusa wsci ...... IlWDlAm ajan tie. SOO do pfd ISOOtAra Car A Fdy, . do pfd. OOjAn Cot OU.... do-tfd 2O0iAaa Limar Sytad. tAaa Jiicte m JLeavtn: wot a pta . tvuias m .. . . , 2100An InU Corn,... 600 i . ,6300 200j 314JO 7400 200! 100 300 .. 76441 7 t 75 . i. 12T4T 12 I IS ' r 600iAm Soger ... lOOl do pfd Mo Am Sumatra 4100Am Tel A Tel... 90 OS Am Tobaoo 800 Am trnaed I dat nfd ... Lam Loe,..i.lli4 do pfd ... Asa ftafetr Bass. AmShip A Cogsmt B H Am Smelter ,., do pfd ...... An Snuff. . . . . , Asa Steel Fdy., 2844 1344 79 44 41,44 83 44 1644 mi' 26 28 . 8300 Am. AVooi . . . . . I do nfd . . . , ... 200 Aaa W P pfd... uas Kinn S3 00 Anaconda. ... t. suv aus uu ....... 8200 (Atchisrm a ...... 4001 do pfd . . , , SSOOIAtl Coast Lin. , . 800 Atl Onlf A W I. 485O0 Baldwin Loos .. 100 do pfd ...... avivv a as v -... zoo no pi a ...... 4100 BarnsdeU Car "A' 700 do "B' ...... J 6 500 Beth Steel "B ". 1-500 Booth Pish . .i . S0O Butte C A 2700 Butte A 8up -1600 Burns Bros "A SOW! K B- ...v. i7o caaao mi .... ' 600 Calif Packing 9100 Calif Pet ..... . - - - do pfd ..... 2300 Call Zins A Xead SSOOCan Paf ,1900 Cent Leather- , , 1 lOOICerro de Pasco, . 200Cbandler Motor 2700 Chi A N W ISOOtGhl a W 700l 0400 1700! 6900 9300 18000 do - nfd Chill Coo .. j-i . Chi no ... ..... CM St P... do - pfd : ... Coca-Cola w...... 6044 8000 100 800 . . f '.?; Xw Tort Sirir and Coffee New Tork. Nov. 2 7. ( C. P.) Sugar Firm, - Raw, 35.65; refined, firm; granu lated. $7.OO7.10. Coffee-No. 7 Bio spot, 11c; No. 4 Santo a, 15 44 1 64 e.- -i .,---.--'., 2600rO AO..,,, 1200 Ce4o r A X.i- SOOtColo South .... ' SSOoKVd Oaa A .El. Col Graph .j . . Can 6as Cong Cigars do pfd .... uonu - I IS, . . . . Corn Prod -. . . do pfd ..... Cosdesi Oil . . O R I A P. . . do A pfd . - do- B pfd . . Crucible ...... do- nfd . - - . Cube,. Can ...... . .. do pfd , Davisoa Chem. Del A Hudson. . . Del A Lack . . Dome Mines . Flee. Star Bet- . Rndicott Johnson Erie .......... do 1st pfd . Famous Players JFed MA Smelt. do pfd ....vt. Fisk Tire ...... IGeat Cigam .. . , . Gen Elee ... . Oea Motor ..... lOen Motor 64 .. (Gen - Asphalt (OUddin PsintV. . . .jOoodrich T A R. . Kilen Alden i...:. uranby -.. ... . .. k5t Nor Ore..-),,. Gt Nor nfd .... Green Cananea . Gulf St Steel ... Houston Oil . . Hupp Motor .... HI , Cent . . 69 100 42 74 107. 23 122 148 14 91 14 4644 lis 88 80 108 23 44 118 117 ,4044 Bl 19 1 K 444 27 18V 45 7 T8 6014 Tl 1BS44 SS44 88 69 80 ; 4 8 26 23 28 . 76 2544 4244 68 2 121 101 124 46 62 - 84 ii- 3H 23 24 116 46 44 56 44 86 44 11 16 89 -- 1144 178 18 44 30 22 44 SO 44 80 'how 78 83 22 44 106 . 27 ! 11 68 41 33 S ITS 16 61 a a) 26 28 116 16 4744 100 43 71 107 24 121 147 146 80 14 111 88 83 105 224 113 1IU 88 T 28 18 68 ' 26, "' 136 ' -. 78 46 644 IlsH 8244 67 68 78 . 4 "8 26 23 21 7814 24 44 41 86 2 126 98 44 124 44 44 81 8314 68 12 i,5 44 22 28 116 - 40 65 844 10 44 164 7 . . . .-. !i a 174 18 28 23 2614 78 68' 6144 22 105 28 27 60 11 , 144 19 41 64 86 83 44 69 14 jl6 ITS ' 122 17 82 ' " 18 60 88 26 27 4T 116 US 44 644 18 48 68 141 -42 72 107 v 26 121 148 146 61 108 27 HZ 112 68 60 108 ss lis 114 ',' 89 66 29 18 0 4 44 :T 26 44 188 4!$ 76 48 OO . T 13944 S3 14 87 68 -79 4 J 26 22 21 88 75 66 24 44 42 87 2 128 82 80 1844 100 126 44 119 43 44 31 9B 83 64i 88 IS 44 87 23 24 115 129 40 65 44 84 44 14 44 164 88 - 47 10 76 176 18 81 40 1 6 28 64 ze 29 84 23 70 62 22 106 - STOCK . . . . ilnaplcauou" . . . . . a . f." Int Agr- Corp w fia .... ,.-,. cnterporo .a as pta , Int Hare Int Mere Marin. "V I'M, ,...... Int 'Nickel ..... int n per ...... Int ' Corns ng. . lav tnl ....... Island Oil . . . .. . Jeweu Tea K- C -Southern . -.... w ins .. , ,.. ar w - najnr e .. a... Keily-Spgfld . Kennecott . . tact steal ... fe ire .v-. Lianigai valley T.ii.a . muumim ...... en i nostras , L A ST........ Lima, Loco . . Marland Oil . . . IMaxwell Motor A Kk Ma Stores ... W V , , Hex Seaboard 4. Jtuni Middle States Oil. Uidvale Steel M K A T Wi. Mack Truck . Mont Power . Xfl.M. ' ti.- 1 MO Pan. ,.V (MStPASS M..... at Htaeurt Nat Enamel Sat Lead 1118 evaua jtm New Haven ' I 20 44 Norfolk A W.... 118 -Vor American. 8844 or pae . . t . . ,JC 74 44 --"or Moocia steel N T Air Brake. .! 26 .v x Central. ... I Bl husia, Prod ref Orpheum .. .. . . .1 1844 Kmtaro A Weatevnl 30 IPactfio Dew . . . .-. I ... i . Pao Gas A Elee. . I 81 M, facing era Pan Amu Pet , . .1 66 no "B" ......1 8444 Penna .........I 46 44 do Sea Steel ...I 844 l'eo 'aa . . j.r 9t Pens Marauetln ..I 90 1'niiaaeipma, us,. S8 KhUups Pet .... I 4 2 Pierce Arrow' .'.-. 16 High. J Low. 1 Bid. el 81147 "- 9814 11 47 18 '48 22 14 "44 184. 18 68 ' 66 40 81 14 76 63 "18' 123 53 44 8014 43 IS 162 211 1544 25 11 su 13 53 68 20 16 41 IT ." 44 88 44 1644 45 44 46 22 14 1? s624 '88 83 80 614 76 00 'if 124 52 29 4s 1244 166 44 20 16 26 1 1 2844 IS 14 6214 67 20 15 49 112 4 1844 112 87 78 44 24 44 89 44 e 4 1814 18 8014 I a . a 83 80 45 2 9014 2844 37 40 44 10 6 58 , 1044 4644 18J 13 46 22 14 ,4 17 -17 63 44 83 T 88 81 76 . 23- 61 - 158 174 124 62 2 41 44 1214 161 208 15 23 11 44 2844 1344 244 67 ; 20 -16 41 , 63 246 61 44 11244 IB 44 20 112 88 74 26 ; 24 60 44 2 .18 18 8 1 81 44 84 82 454 8 44 80 '28 44 88 41 10 ! Pierce Oil i , Iita Coal -'. Pitta A West Va Pressed Steel Csr. Pnnta Alcgr . . Pullman Pur Oil Ray Con ;.'.. Reading : Keanttia-toa . . . . . . . , jHcgitocle Steel . . , . . . ' H-imbHe IAS. , . . . I do wfd -. . . , . . . ...IRoal Ihitrh Oil. . ...IKjr Steel Hpr, . . , . ineara-Keeoacg . . . , IShattnrk A Aria. ... .IMliell TAT ... .Htneisir Sloss Hhehf .... Son Pacific ... Sou . Ry 1 . . ' -' t so rtf d . . , . f ... , f if v y i ...., a ti and ...... I O N t. .... ... 8 O Ky ...v.. Ht L A B K ... Strom Carb .. . , Stndebaker . . . . Mwift A Co Ten Con A Chei Tesaa 4nl ; . . , Texas Pae . ..... Tex Pae C A O. Tob Products . Tran Coot! tMl . . Un Bag A Papers i moat tni uml. u,w mv ...... ft'nlted Alloy .... united I Irui . . . 1 Cnlted Pood Pred . , . , . l njieti inn , ...ll'n MdS of R i.. do pfd i . Cn Ret Storea . . . IJ S C I Pio. . . V S Ind AlooUol. . V 8 Rubber,. . . . do 1st pfd . . . . U M Smelting ... V 8 Steel .. . do pfd ....... rtnh rtopper . -. . a Chem do ifd ....... Vanadram Steal . 4'lvandoai .- i . . . . . Wabash ....... d A pfd do B pfd ..... Walla Paraw . .-. Western Pa ... do pfd ....... Western Vnion WestJngBous A Bl do E A M.... West Md ...... Whs. , KagU Oil . White Motor Whit Oil ... Willys-Overland . Wilaoa Packing . Wiarenain Central Wool worth , , Worthington Pi W at L E . . . a v Total sales atock. 1 Total aalea bonds. 811.403.000. , 1 . 441 4i 44s . 66 65 S 86 , 33 83 i 75 14 44 4 4544 138 1214 122 274 6H 26 13 12 124 . . . .' 74 31 H 8 SI 22 H 21- 24 46 4844 44 93 83 flS 52 H 52 " 6S"4 100 ! 108 107 ..... .8 79 79 - 78 ,7 44 T 7 ..... ...... 83 81 SO 364 38' 87 87 88 87 87 31 21 21 62 60 14 60 113 , 199 110 . . . . ..... nt 182 - 188 184 . . 106 2214 20 44 20 40 1 'JO 4 60 V4 11844 144 II V 'i. . . 107 8 844 8 4644 4644 45 1044 1644 19 ! 1844 18 63 44 50 44 61 1114 10 10 65 44 14 44 14 14 169 44 1S644 IS '" 6444 34 , 84- 75 8 6 5 153 ISO I ISA 11 2514 23 23 68 44 67 . 67 28 44 28 224 60S 664 694 47 464 47 44 63 92 V 92 66 . 101 100 100 12144 131 121 6014 ,59 6A4 ..... ..... 3S44 . . ..... . .. 6 62 81 61 18 18 44 18 8 44 8 44 6 24 82 22 ; -' el :'' .......... 89 44 1S IS . 16 -66 .64 44 SS 1108 64 , 83 88 68 67 67. 11 10 16 3344 81 . 8044 474 47 , 47 414 4 4 I 6 8 8 68 44 88 -88H 84 28 312 20614 308 37 2T44 27 1 IS We offer, when, as and if issued . $100,000 7 First Mortgage Serial Cold Bonds Dominion Creosoting and Lumber Ltd. Vancouver, B C. Dated Dec. 1, 1922 Due Ser. June and Dec, 1925-1932 ,;' Denomination $1,000, $500, $100 Principal and Interest Payable in : U. S. Cold - . Company Pays Federal Normal income Tax to 2 . - -..-;; ..-.,..-:..'- - . -.s. - ' - Robert E. Smith, President Lambermens Trust Co Portlantl, Trustee. PRICE 100-YIELD 7 ; . ' .Company arid Security j This company has been ;in successful operation for 23 years as .a manu f factureref lumber.' It started with an initial investment of $5,000 and its consistent growth is reflected by. the fact that it has created, entirely out . -of earnings, fixed assets which today exceed $550,000. This $100,000 issue . t will be secured by CLOSED FIRST MORTGAGE on entire fixed assets and - properties now ' owned or hereafter acquired. J Properties include its big ri lumbering mill and 21 acres of valuable waterfront property on the Frazer River; and entire capital stockfand assets of Elk Bay Timber Co.. together . . with logging railroad, locomotives, timber equities and equipment. - ; . - - Values, Earnings,-Insurance - - ' f Although" the General Appraisal Company has placed a replacement value v of $438,165.67 on the company's plant, for loaning purposes we have de i preciated it to $310,000.f The Trust Indenture provides for $236,500 fire ! insurance. In addition $93,000 additional insurance is carried on stocks and $100,000 against loss by "shut down'' of plant. - For. the past 13 years the average annual net earnings have been $20,000 after payment of fixed -charges, operation, and provisions for depreciation. After giving effect to ' . this financing the balance as of s Sept. 30, 1922, will .show assets of $686,914.86 and after deduction for current, and fixed liabilities a NET WORTH OF $490,670.84 practically,5 times the amount of this issue. ; :-- - - : ' - - -" Fall information covering -ail phases jof . T v the' business will be mailed, on request. - - BROADWAY AND OAK We offer the unsold portion of our allotment ofC i Republic of CEnile 20 Year 7 Gold Bonds 4 the Original Subscription Price " rrr HE DIRECT national debt reported as of IT December, 1920, totals about $47 per capita; total wealth estimated at almost $800 per capita - - - Chilean credit has ranked high in European markets, the : first ' external loan having been placed in London, nearly 100, years ago From the first days of the republic the principal, in terest and sinking fvmd on the external loan have been met promptly. . , Price 96 JO and interest to yield 7.33 Calif phone or write for circular of information. DoItNow - Use our Partial . Payment Plan . Freeman, smith q CAMP CO. aUlMMITMsUssj BLD lOs1T10aaa , firm. ' vitsls. ptAM . rL 874 J J PER CENT C v ' . CITY 01 t . SASKATOON' . , , SASKATCHEWAN J . ; School District' 6 Gold Bonds . Dated January . 1 5, 1 920 . Due January 15, 1950 Denomination $500 , - Principal and semi-annual interest j January, J - ' v 15 and July 15) payable in gold coin of the , ' v - . , United States in New York, or at the quar- , : , ters of Morris Brothers Corporation, Port- ,' i ' ' land, Oregon. Financial Statement - ' . " Assessed Valuation ...130,77610.00 Total Debenture . Debt - 1,179,286.00 - " , ' Xess Sinking Fund 23,977.00 ' , ' Net Debenture Debt . 1,155309.00.. ' V " Value SchooI; District's Assets "1,78725.00 ; ' Tax Rale Total 9 Mills . Area 24,040 Acres ' ' ;-PopuUlion: 30,000 SASKATOON is a large marketing and distributing : (-center for all of northern Saskatchewan. Around -- it is the . greatest " gjrain-grOwing section : of Canada. ' These school district bonds have as security all of the assets and taxable resources of theity and are, there '. fore, a general obligation. . ' ' , " . Telephone or Telegraph Orders at Our Expense Government and Mumapal Bonds MORRIS BUILDING Pnrtt aTlf. ThY)0hTI CrH STARK ST ROADWAY 2151 aUA UdlLU.Vl Ull SV CEPCSiT CCXtS 4 j, i r i