1G
TUESDAY, NOVEMBER 28,. 1922.
GENERAL. ADVANCES ARE FORCED IN SECURITIES WHEN STOCK PASS INTO STRONGER HANDS
f -It,
HIE OREGON DAILY JOUltNAL, PORTLAND, OltEGON.
REBOUND SHOWN
NEW; YORK BOND TRANSACTIONS I
J Bvtd bj Tb. JouraT Wail Street Buu
IN STOCK MARKET
f ' ""' 4
el's a.
' . . Stiufi . Wert
Wall Street. ", Nev. 28. The
l" stork market: wblcb wa the center of interest
. in the' financial situation today. gave an. exhi
bition oi nni n nui
tar a market pressed
rinwn tern far b spec
ulation for the decline
to finally : teacn we
turn. . - -.
... Certainly there could
he m eurorne over 13
Hidden upturn ' today
w if it on tM part
rt .nvtwwiv who faae
accepted the analysis of
the recent nownwaro
movement as being due
not to anything unfa
vorable in outside con
ditions, but simply to
the necessity of setting
right a previous owr
gpecnlaBou. - At such
times stocks Invariably
g-ty- down aa far below
J tlwr.r real varaes aa in
.. the campaign far the rise preceding they had
'-been jm shed above the value line. One bears
i ' nnder these eirenmscaneee a' lot abont selling,
? feat very little about the the baying; but the
- eiperience slwsys la that stws are gradually
-taken off the hands of demoralised pools and
H-iJ: individual traders and find lodgement among
: banking and investment lnteresta which are
; perfectly capable of holding them.
Prioe fteoefl Natural
When a stage is reached where the transfer
from weak to strong hand haa gone far enough
to , remove the greater part of the available
supply and leave the short interests without
means of getting: in tbelr contracts around-
i Hie low ririces, there, is just such, a recoil as
jtjs occurred today.
There waa nothing in the outside news to
: account for the recovery any more than there
had been year ago in the ontajde news to
... . explain the previous decline. But as usually
f, happens. "the speculative commueity waa dls
..j . posed to par more attention to favorable lest
ores in the financial situation which-It had ia
nored while prices were going down. Among
these were the statements repeated in the
weekly reviews of the iron and steel trade that
production - was back practically to where it
stood before the collapse in the autumn of
' 1920.
. None of the" dividend announcements, either
; stock or cash, had much effect. In the ease
of American Can putting the shares on a f 5
basis appeared to have been fully discounted,
; the- stock feeling the weight of the traditional
selling on the "good news" in the same way
. the entrance of American Woolen representa
tives on the board of Consolidated Textile was
the. important development which the market
.bad been anticipating and for the time being
at least the rise in Consolidated Textile stock
: was checked. , ...-'
Naturally, the rebound was more rapid in
stocks that have been driven down the most
; severely and in-: which the short interest was
presumably the largest stocks like the steels,
the - equipments, the motors and some of the
, rails. So much emphasis has been laid re
cently upon the rise in sugar prices, the dwin
dling of unsold stocks and the altogether favor
able outlook for next year, thai it was not sur-
prising that sugar securities, both stocks and
bonds, should have been prominent in the
rise.
Some Rally In Exchange
. i The foreign exchanges rallied in the after
noon after selling off quite sharply in the day
Preach francs at 6.65 were down over all the
ground gained in the rise of a week ago,
showing how. largely the advance had been
-due . to repurchases for short eceeani. The
late recovery brought francs back some 10
points and carried sterling again above 44.52.
As an index to the French financial position
the weekly statements of the Bank of Prance
, end 'their disclosure of the changes in the
- paper currency . item, are just now of more
significance than .the highly speculative fluctu
ations in franca.
The recovery on the stock exchange was
i accompanied by simultaneous improvement in
bonds, in cotton and In grain.
V Thv"dTae!Lin "t prices wag psrticu
: larly sharp, , , The main consideration here is,
et course, the remarkable increase during the
last two months in foreign demand.
: Jump Shewn
At the high prices reached in the final hour
; of the stock market the share list was on 2
and S pomts on the average from the lows ot
il.PI!IiT1JL.d5r- Thu auffieiently
: clear proof ef the extremes to which specula-
th .diin. bem Pushed. The
notable jump in Calif ornia Petrolenm appeared
to point Quits strongly toward the stocks being
r!jttn?' . the dividend list next month. Stand
, irt -W shares were prominent in the ad
vances and so was Burns Brothers "A "
which 'went through its previous high of the
wr- be Pan-American, 8tudebaker, Bald
vnn IjocomoUTe and Auerioan Locomotive were
tbeleadera m the trading toward the end, while
, te common made up the dividend which was
deducted from iu selling this morning.
By George T. Hugfcee ' .
(By Special leased Wire to ToeonnialJ.
New ork. Nor. 28. Bond qiioUOo
showed improvement today, r-tloiUr th
specniative issues. Probably . the bettor tone
oftbe stock market was an influence. As far
as the high grade issues were concerned net
changes were very small. - -
liberties gained slightly, but the trading
was comparatively lifeless. There w still con
cern over the possibility of the reSBrrection. oi
. i ' TtuM kiM -m nmsnect ef new
U1B imiu z..' -r ,
U1S
-w
a
Foreign Exctranfre 9fa.rket
.0,rk- NoT- 2; Demand sterling
,S9H; lire cables, 4.T8 ; checks 4 75 ST
Marks, .001 1-16. BelgiaTVah ei al
checks, .83ts. Guilder bl '?'
ehecks, 89.55. Sweden kronencabl'es. le i!
checks. 26.d. Norw cableT iTso; t.'
Denmark cables, 20.40: checks, 20.30.
f.o2
28.4S.
-SI
"ST
JHonej ud Exchange
? Sew Terk, Not. 28. (I. N SI Call
money on the floor of the New Tor'k Stock
4 at 4 H per cent: hh
i JTLifM I 4 pe' " Tm money
Per cent.
sb.ar!v " " ,Iua' mefui paper was
Call money in Ionrfn .
ieent.
Per
-a
3-if
' :
!
ri .
I
I
.
m
n
.
To
"n Am
0
On Ycroz Money.
? A Safe and Sound Invest
ment. .
Easy Terms. '
5 $10.00 Down and $10.00
a Month
Our" 7 Prior Preference
. Stock Now Offered at
$98, Par Value $100.
For Further Information
Investment Department.
PorUand
Railway. Light
& Power Co.
, Room 605
' Electric Bufldinj
. Portland, Oregon.
Atchison General
government financing around
year.
. Limit rrm.
4s sold up to 89. Pennsylvanta faeneval 4 jl
gained a half point. Chicago orthwestern
General 3s also went higher.- So did Burting
ton tlenersl 5s and Illinois Central 4 of
All thme.'bosnis. represent the highest type M
railroad eemntiee. Among second grade
Rock Island Refunding 4s made a gain- t-
O tkmvertible, sand Convertible Je went
higher, as did H. . Convertible 4 .
Therv waa very active trading the -abora
Airline issueit.1 The 6s dropped more than
a point and then made up more than toe loss
by 2 points. : New lis veil 6s declined frac
tionally at the opening and then rallied for
substantial gain. Erie wanes aU were slightly
lower and BU Paul bonds seet more iavor.
Missouri. Kansas eV Texas Adjustments Also
went higher. . ' - , - .
The foreign list was eery irregular. French
bonds, notably the 7 He and the Uept- of Seine
7 s, sold off, perhaps in response to the weak
ness in franc exchange. On the other hand
United Kingdom 5fes of 1020 equalled their
high for the year. Brazilian T Hi s. - another
.(.rtinv iuuo. ahio sained ground. Aetherlsnd
prices were very active and higher.
New York, Nov. 28. Following is an offi
cial list of bonds traded in the New Xork
Stock Exchange today with prices up to sod
including the close of the market. Jf1
sales today were $11,428,000. against sll.
897.000 yesterday. $8,948,000 , Jr f,
$28,694,000 at year, ago, and $14,008,000
l,"r'r"j"urT 1 to date $.1,92I.OT9.000
against $3,01 2.83S.000 a year ago, and
$,418,405,001 two years ago.
L.1BKKTY BONDS .
Sales in lOOOs)
High. Low. jClote,
galea. $1000 - j High. lyw.1 Close.
"3" :sVj.7 -. i "t sc - - ,-.
201 Railway xchanm
: STOfcKS ec::ds
PRIVATE XJEAJSED tFIAES X
. F. Hutton & Co,
MEJJaF.BI Jit,!. lKntCITA& ,
, EICHAKfiEs -... '
Sosteit XBIolrixe An
Sales.
273Lib 8 Vis '32-47.
54
493
423
'32-
Ub 1st 414 s
47... -
Lib 1st 4 reg
82-47
Lib 2d 4 lis '27-1
42 .. .. ..
Lib. 2d 4Hs reg
'27-42 .. .
Lib 3d 4 lis '28
lOiLib 3d 4i rg'2
10-3Lib 4th 4Hs '88
12Sb 4th 4 lis reg
S46Victory ' 4 i "23 '.
II Vict 4 a reg '2
125 1 Vict 4s '22...
8 Vict 4f4s reg '22
230U S of A 4 14s
'47-52 .. !
VOREIGN I
' 371 Argentine 7 s 27..
fijBeigium THs 45
do 8s 41 ..... ,
41 do a 25. .... .
gfBergen 8s 45 ... .
' 8lBern Ss 45 . . . .
20lHoUvis 8s 47 ... .
BordeauiB s 34 . .
20 Brsxil 8i 41
64 Bras 7 Vis rets 52
40 do large 52. . . .
1 Chile 8s 26.-. .
4 Chile 8s 41
1 do 8ss cf 4. . .
10 Ch Govt I.J 5s 51
. 1 Christiania 8s 45.
3 Copenha 6 Ha 44
. 1 Cuba 5s 14 i.
1 Cnba 4 Vie 40. .
23iCseehoiil 8s cfc 51
llDan Jinn 8s A46
8j do 8s B 58. . . .
7Ienmark 8s 45. .
3 Denmrk cfs 6s 42
43 leDt Sein 7s to 42
lOjrtomln Itep 5s 58
I'lOom of Can 5s 26
72 do 5s 52
l! do 5 81
23!Itcb. E I rt 6s 47
. 48 do rets 6s 62.
48 French 7 Vis '41
02 do 8s '45
65 Haiti 9o. "52 ...
8 Jap 2d 4 Vis '25
75 do ster in 4s '31
4 Lyons 6s '34 . .
0 Marseilles 6s J34
33 Mexico 5s '45. .
: 10 do large 5a 'S4
6 do fl '54 ... .
10 do Irr 4 Vis '46
11 Montevideo 7s '52
134Netb rets 6s '52. .
6Norway 8s '40. . .
34 do 6s cfs '52 . . .
2 Porto Ale 8s '61 .
HlPraaueT Vis cfs'52
SiUueansland 7s '41
at ao us cis
I S Gr de S 8s '46
9Kio de J 8s '46. .
101 do 8 cfs "47 . .
2'8 Paulo C 8i "52
t 3j do State 8s '38
18lSia.Kms 6s 'SS. .
12Sweden 6s '39 . .
3 Swws 8s '40 . . .
32 0 K 5 Vis '29. . .
8 do 5 Vis '37 . . .
, 1 Zurich 3s '45
10014
9832
f 979o'
: 97821
9760
0836
1)81 HI
10002
9816
97901
97701
9760
9828
8814
9800
9700 9786 9790
10030 10024 10026
10004 11000410004 I
10004 lUUUOlVUUV
99881 988 9988
90381 99301 9932
10002
9822
790
9774
9760
9884
9816
9802
100 Vi 100 Vi 100 Vi
100 V4 99 100 Vi
100 994 100
95 H 95 Vi 93 Vi
108 Vi 108 Vi 108 Vi
108 Vi 108 Vi 108 Vi
9,VVi 03 93 H
i 77 Vi 76 Vi 77 Vi
97 Vi 06 H 97 V4
92 Vi 92 92
i 94 94 94
101V4 101 Vi 101 Vi
102 Vi 102 102 Vi
102 102 102
51 60 Vi 50 Vi
108 108 108
' 89 Vi 89 Vi 89 Vi
L 91 0191
' 82 82 82
88 87 8T
107 Vi 10714 107 V4
107 Vi 107 107 Vi
109 108 108
I 98 Vi 68 Vi 98V4
88 85 85
101 100 101
98 Vi 98 Vi 98 Vi
99 Vi 99 99
98 H 98 H 98 S
93 Vi 63 93 Vi
93 92 Vi 92
94 93 94
98 98 Vi 98
96 Vi 96 96
92 92 92
80 80 80
77 78 76
77 76 76
49 47 Vi 48 Vs
47 47 47 -35
85 85
83 33 S3
89 89 89
96 96 96
110 109 109
100 99 99
90 90 9
72 72 72
107 107 107
100 100 100
08 98 98
94 94 94
95 94 94
97 97 97
97 97 97
78 77 78
104 104 104
116 116 116
110 110 110
103 102 103
110 110 110
NEW YORK CITY BONDS
2INTC4sHay '57(104 1104 1104
3 do 4 Vis '64 ...101 101 101
UlSCKLLANEOCS AND INDUSTRIAL
5;Ad E col tr 4s'47
2iAjax Rub 8s '38
1 A lM ev db 6?
A A Chm 7s'4i
1 Am Cot Oil 5s'31
28 Am S- 1st 5s'47
18 Am 8ug 6s '37. .
1 AT&T cvt 6s '25
22 do col tr 5a '46
St do cvt 4s '83
lit do col 4s '29. .
7 A W Works 5s '34
3 Am Wr Pa Js'89
1 1 A JUltcvw re 4 7 1
1IAU Befry dbSs'STI
9IBald Loc 6s '40
HIBell of Pa 7s '45
liBth St P It 6s'S6
11 do 6s '48 . . ..
4Braden' 0 6s '31
171B H S 3s '42
i wi
HBkln Sd Ss 40. .
10 BshTnn nid 5s 60
5lCal G4E 5a 87. .
6)Csn G K 6s 42. .
SiCnLeath gen 6s 25
22, Cr DePtsevt 8s 81
Ul lChUe Cp evt7s S3
z ao eoi w as BZ . .
1 Cin G 5s 61
5 Colo Feci 5s 48 . .
14 Oal GAK 6s $7.
Ill do 6e sto 27. . .
SfCamweelthP 6a 47
1 tCom-Tb Bee 6s 41
OiConCaal sfd 5s 50
. ItCrnCrksYS 6s 42.
lCbCSugevdb7s30
1 do 8s sts'39
2 Dery 7s '42.
4jDet Ed rf g 6s '40
7;Det B T 4s "61
8;1 M db 7s '85
8 D de N T '81
6tl L & r 6s '49
Si do 7 s '88 . . .
711K C Sue 7s '37
83IBO fc Per THs
ets B7 ... , .
Flsk B Co 8s '41
7P I D db 7s 42
I P Eg 7 Vis cfs '42
BIG E deb 6s '40
14jO R fis efs '62..
70;Odh 1st 6s '47
4jGdyr X 8s 41.
281-do 8s '31.....
SlGrby Min 8s '25
10G A t cvt 7s '82
29 H Clioe s '42
1 H A Lirt '47
42jH O A. R dob!
I 5s '32 97
4ilnd SU 5s '52.. 1100
l ,Int Ppr 5 A '471 8
20) do B '4T......I 86
liit at ss a a s ii h
jiu n-syser is '4Xjl05
7 i.elly 8 T 8s '811105
lllLack Steel 6s 28J 99
it ao os nu ..... I 8
: Klf u evtta skills
17iM S deb7scts42 97
1 iMrtnd O 8a 'St.. 1108 -4j
do 7a '31..H08
4'Mex Pet 8s '36.1106
51M A M 7s.....-98
3 Mh St Tel Ss 241 99
TjUid St evt3s'S6.) 88
i-;M row xsc os -a
;Nat Tabs 5s "B2
sire;r4k'ristoeA-Xi
15NTEdCorf6 VieM 1)109
l!XTGF.LHA:Pn4s49i MV
lliNTGELUP ftg '4B 95
80
96
7
103
80
92
102
113
97
100
91
83
83
76
98
108
109
91
98
89
94
95
92
96
101
98
122
110
va
97
89
96
95
88
97
83
93
84
88
97
103
88 .
107
107
103
107
95
3
103
87
101
105
99
101
115
98
93
96
99
84
23INTT gen 4s 89
,101 tonf g '41.
4fN P P 6s '32...
39 .NAR s rets '62.
10IXOTL 6s 47...
N8P 1st 5s '41,.
i3iN B T Ts 41...
2;Otis St 8s '41..
5' do 7 s J45...
6,P G A E 5a '42
1 P T sa T 5s '87.
. 9 de ref 5s "52..
i:PAP at It '80.
1!P O ref 6s '34...
t S;P S S I 5s'5. .
. - - -t - '.
80
96
80
96
rl
102
86
91
101
113
96
100
90
88
82
75
98
108
108
1
98
89
93
95
91
96
101
98 Vi
120-
109
94
97
89
95
95
88
97
11
84
87
97
101
58
107
102
SO
92
101
113
96
100
91
88
83
76
98
108
108
91
98
89
93
95
92
96
101
98
122 -
110
95
97
89
SI
88
97
88
97
84
88
97 St
102
88 .
107
107L107
99
104
99
93 Vi
93
91
107
99
92
91
97
81
102
100
89
102
107
95
92
104
86
161
105
98;
100
114
97
92 .
96
98 Vi
84
97
9
86
89
106
105
99
89
109
98
198
103
195
99
99
88
99
97l
109
81
98
93
104
98
98
93
91
10TH
99
93 -91
97
90
103 -
99
S5
103
107
95
2
104
87 .
101
105 -
99
190
114
98
92
98
98
84
9T"
100
66
89
110
105
99
89
110
99
109
102
106
99
99
88
96
99
98
109
81
95
91
104
99
98
93.
91
107
99
92
91
T
91
192
99
88
49 PS cvt deb 7s '37 107 .
2.P A B. 8 '31. ..106
V9tRAlt6A cf '87. 96
SiSsks 4k Co 7s '42. 101
3SJne C Oil 6s. 93
20) da 7s rets . ... 10O
31 jSine Pipe It 5e efs 88
7 ! P. R. Sag 7s. w "97
9 8. Bell TecT 5e. 97
. lmtsnd GsVB! er 6s 98
UStand MUlg 5s. .J 96
ljStd Oil Cel deb 71105
10 Sugar Estates of I
Oitent 7s ... .-. .i 97
7 TidewtrUCe 6 afl02
4 Toledo LtAP 6s.105Vi
BAP 6s cfs. .1 97
SjUa Tank U 7s. .1103
5Un OU Cal 6s.. . (101
. 2 Intd Drug 8s...lll
Sirntd P Aimm : I 97
U.S HoffmanldAs 103 .
10U S Kl A Imp 6sj 99
17,Un Strs Klty 8s.il00
3jUS Rub. 7 Vis ..108
'201 do 5s M. 98
10) do 6s cfs . v '. 87
3RfS SU sf 5s.,... 102
8L'ta.hI'wrAI5s '30 91
7 do 5s '44 87
lVe-Cr Chm 5s.. 100
7) da 7s sA 98
37 do cvt sA wrts.f 92
ftVVsr SngRef 7s 41 103
!VPenPow 7s 58. 103
13JW l." 6 s 86. . . 109
3iVethse Kd 7s 81 106
Winch HA 7 Vis 41101Vi
6jVVickSpnSU 7s 35 96
SiWilsonCol st 6s 411100
12; do 7s 31... .104
W'5
108
95
101
98
160 .
e
9T
97
98
96
106
196
96
161
98
10
88
97
9T
98
96
104 1106
97
102
105
97
103
101
111
97
'ii.''
100
(108 1104
I 97
87 ,
102
1 !..
si
100
95
90
103
103
109
106
100
95
9
104
97
87
102
91
87
io
93
90
102
103
1 09
106
100
95
99
1103
97
102
106
97
103
101
1.1 1
. 97
HO
RAILROAD BONDS
SiATSFCA 4 S '62
9 do gen 4s '95.
6 do adj 4s '95 sta
6 ACAL 5s B '44.
1 A A B 4s '83
8 ACL 1st 4S '32
5 doLN c tr 4 '52
15A 4s '49 stamp
zo sun -a. .
85 do ref 5s '95. .
66 do cvt 4 s '38
6 do sold 4s- '48.
23 de pr B 3 Vis '25
6 do 4s PLEYYT
div '41. . . .
1 do 4s TU div '59
13 do 8 s S U '25
6 B K T 5s cfs '45.
34 B B T 7s '21. . .
27 do 7strcocfs'Sl
29 do 7s tr co ; cfs
st - '21 . . . . . . .
6 B Us El 1st 5s'20
3 ; Burl C R & N 1st
con 5s '34 . .
6 j Can Sou 5s '62 ..
6ICsn Nor 7s '40. .
44) do deb 6 Vis '46
42tCan Pas 4s pent.
3 Car CI fc 6s '89
11 n Rv Bras 7s '52
6 C of Ga Hy 6s '29
21 do con 6s '45
4 CPac 1st ref 4s'49
1 do S L. 4s '54
3S New Eng 4s '61
liGv O con 6s '39
- 34 de cvt Bs '46
1 do gen 4s '92
191 do cvt 4 Vis '30-
6IC A A rfg 3s '49
11 do 3V4s '50
2C B Q gen 4s '58
SHiiJ a U retos i .
10IC A K I 6s '51.
1 CAErie 1st 5s '82
47fC Gt W 4s 59
" 4 C MAS P4s'89
13 do 4 Vis '09
22! do cvt 4s '32
421 dorf4 V4.A2014
20f do evt 5.B2014
841 do 4s '25 . . -10
do deb 4 34k
2IC N W 7s' "80
llC N W 6s '86
11 dogen 8s '87
1 1 do een 5s '87.
SiChi Ry Co 5s'27
lelCRIAPgen 4s '88
88 do rfg 4s '34
3IC S P M A O
' I con 6s '30, .
12
l
(i
4
26
1
2
I
1,
c u s ss ea
ao gen 6s 3 . -
CAW I en 4s
CCCASLd b5
do 6m ir A
;c U T 5s
C 4 S lt 4
do rfg 4s
C-R K 5s
52
93
'28
'72
29
'85
52
D e K Vit '37
lliDARG rf 6s "65
6t do eon 4s .'86
l'E Tenn VAG con
I 5s '56
8, Erie 1st con 7sextl
) -3 .........
4 3iErie gn hi 4 s '96
92
89
81
86
106
80
86
81
100
84
80
80
94
T8
91
91
61
90
88
84
82
99
98 '
111
110
79-
89
87
100
96
85
81
82
101
91
84
88
53
26
87
99
80
92
51
71
81
66
60
89
7
59
107
108
74
103
77
82
82
105
112
99
74
77
101
103
01
85
83
100
4
73 '
97
12
40
14
do prior li 4a '96
do cvt 4s ser A
53
lErio cvt 4s ser
B 'S3
Eri cvt 4s ser Di
l -ss
llErio Biv 6s '57
4 Erie Pa col 4s '51
3; Grand Trk of Can
d 7e '40 ......
52 Grind Trk of Can
I 6s 36 . - -
SiGt Nor 7s '36
.141 do 5 Vis '52.
2 G-n B A W deb)
i - K nero
Tf Sho Is! 5s '62
Kud k 11 ret os
A 57 ..
ndAMadv inc5s57
9 ill Cent 6 Vis 84.
6!I C A C St L AN
fi it osa o
IU Cent rfg 4s 55
do 4 hi. .,
do 4s S3..-.
llMetcfs4 Vissta 56
llntBTrcvtlswi 82!
do ref 5s es. . .
de rf 5sbkr ef 66
do 6a wi 83 . . .
TON &s not efs 41
An sdi 6swl 52.
lowsCen st5s 38.
4 do ref 4s 51. . .
2!KCFtSiM 6 Z
1 do 4s 36.....
3 Kf! Sou 5s 60.
S'KC Trm 1st 4s 60
1'K.CE 4s sta '4.,
l!L A B Bs "65. . .
1 ILI unified 4s '49
9iL A N 7s "80.
40
14
7
1
279
85
SOi
12
16
1
294
.II
3
1
1
1
29
2
1
21
1
14
4
'1
41
61
1
69
10
86
17
- 6
.... . 8
259
42
, 4V
- 4
1
27
3
6
LAN 5S 3003
LNSRM Jt 4s '62
I, a N W Si '35 .
Man By con 4 901
Mktst rtyen os
do 6s 24
Mil El By A Li
5s 26
M St L 1st rfg
49 . . .
M St P A S S
M o Vis aa...
do 4s 41 . . .
M EAT 1st 4s 90
do 4s B wi 61
do 2d 4s cfs 90
do 6s A wi 42
do adi 6s A wi7
do 4s cfs 36
do 8s O wi 42 ,
M Pso 5s '65...
do 6s '49
do sen 4a 75. ,
M Tr ref 5s '41.
NOT AM tec Bs'85
NTC deb 6s '35.
do ref A imp 6s
am- C 2013. . .
N T C L S ool tr
Rl - ....
N T C A CtZ. deb!
4s "81
iXTNBHdeb 6e '48
do cvt 3s '86.
do deb 4s '85..
do deb 4s '56.,
do deb 4s '57. .
do deb $s '54
Jersey 5a 1932 . .
2INTOW gen 4s '53
12 NTR nsf 4s '42 . .
10 do4str eo efs '42
10 NTSR e 4 e '62.
40 NTW4US 4 Vi S '46
621NWBB evt 6s '29
21 do 4sPCCdiv '41
69! P s B 2047.
' 3l do pror m 4 '97
21 Aomol 3s 2047
24! do ref imp 6s '47
7K Sc. C 1st Ss '2
3 OR AN ioi4i '46
lSjO 8 I 1st eongdl
5s '46 .
rfg 4s '26
18 O 8
Ss
9 o
102
43
66
42
42
42
88
81
111
103
109
101 .
11
83
82
58
101
94
85
84
80
11
96
74
T4
69
60
48
77
36
101
77
69
83
71
79
90
108
102
80
77
62
90
83
98
S3
103
85
80
68
68
83
69
66
96
86
99
62
88
76
104
T0
TT .
72
45
52
60
88
47
94
69
32
30
65
43
113
86
108
84
60
97
99
87
92
88
81
86
106
80
86
61
100
88
79
80
98
'77
91
90
61
89
87
B3
80
99
97
110
110
78
89
86
99
96
85
81
82
101
0
84
87
52
23
87
99
?9
92
49
71
81
63
59
68
79
59
107
108
74
103
76
81
82
105
112
99
78
77
101
102
91
85
83
JL00
72
97
102
42
56
41
41
42
88
81
110
102
109
100
11
83
81
58
100
94
85
84
80
11
95
74
74
69
60
46
77
SS
101
77
69
82-71-79
90
106
102
80
77
62
.89
93
98
88
1034
86
80
68
68
82
67
66
95
86
98
61
88
76
198
97
70
?s
45
51
50
85
46
96
6S
32
80
64
41
112
107
84
60
.96
(99
J 97
103 :io
Ul Vi 91) 1
92
89
81
86
194
80
' 86
81
100
84
60
80
94
78
91
91
51
90
87
84
80
99
97
110
110
79
89
86
99
96
85
81
82
101
91
84
87
62
25
87
99
80
02
60
71
81
68
60
68
79
69
107
108
74
103
76
82
82
1105
112
99
74
77
101 Vi
103
91
85
83
100
4
72
T
102
43
55
42
42
42
88
81
110
102
109
100
II
83
81
58
100
94
85
84
80
11
95
74
74
69
60
48 .
77
35
101
77
69
82
71 -
79
00
106
102
80
77
62
90
aa
98
86
103
86
80
68
-68
83
68
66
96
86
98
62
83
74
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98
T0
TT '
71
iU
50
25
47
94
63
82
80
64
41
113
108
84
46
97
99
97
193
frOTcrtcck C Coolie Co.
., - BB0XO9
. rwewbere OMesw Beer a? Tvtktsk
. Beerd sf Trsst SUdg. Psrtksee. :
; . ', STOCKS, EE
: c.iai:i o cona
' CI&ECT P KIT ATX
Logxin S; Bryan
snctr iojuc as Chicago
BUSINESS GAIN
IS 25 PER CENT
- " ' - Br start B.
. St - Paul, Nov. 28. Preparation of the
larger industrial and commercial - corporations
for the December dividend distributions indi
cate that 1922 has been a jnoat suecessfnt
year. " While prices were lower than in 1921
in many - Ikiee, the volume of. business aver
aged about 25 per cent in excess of last year.
The outlook today is extremely- favorable and
many industrial leaders predict continuation
of improvement for the next six months.
Retail trade in the Northwest waa cheeked
somewhat hi the last week by .the poor con
dition, of the roads, vrbkrh for some days were
almost impassable. Colder . weather aided
trade in the Jarger centers. - - Farm products
are- now moving to market more freely and
farmers have more cash to spend tn consequence.
Oil Melons abd
Short Covering
Curb Features
By WllHam P. Hef reman
' yew York, Nov. 28. Start covering whiob
started just before the close Monday continued
on the curb exchange today and along with
a good deal of 'fresh buying resulted in ad
vances alt through the list.
Further announcements of large stock divi
dends by the Standard Oil companies stimu
lated buying in the entire oil group -resulting
in a considerable advance. The jump of the
previous day in Standard OU of Indiana was
explained by the overnight news of the in
tention to distribute a 100 per cent stock
dividend. Atlantic Refining, a Standard Oil
subsidiary, broke all records with its declara
tion of a 900 per cent dividend in stock and
this waa followed today by the Union Oil of
California with a stock distribution of 8v per
cent.
Standard OU of New York opened up 12
points snd continued to advance, carrying
along the new shares proportionately. The
new Standard Oil wf New Jersey stock fol
lowed the sharp rise in the old stock oo the
big r-oard. Standard Oil of Kentucky, new;
Standard Oil of California, new; Imperial Oil
of Canada, and Prairie Pipeline all figured
prominently in the rebound. ,
Standard OU of Indiana appeared to have
fully discounted The stock dividend announce
ment and it was heavily sold. British-Am!
lean Oil declared the regular Quarterly divi
dend and an extra, dividend of 60c, but this
led to no activity in the stock.
Among the motors, Durant was once again
in active demand at a new high, while Keo
and Struts worked higher. Hayes Wheel ral
lied after losing a point at the start.
BANK STATEMENT OF COAST
i Portland Banks
1922.
Clearings Mon .. .$ 5.782,091
Balances Mon 1.414.150
Clearings Tues.. . 4.654.839
Balances Tues... 937.588
1921.
7,531.385
3,184,918
4,288.619
622.531
. Tacoma Banks
Tuesday's transections . $ 2,765,000
San Francises- Banks
Clearings Tuesday . $24,200,000
Seattle Banks
Clearings Tuesday $ 6,524 J 56
Balances Tuesday 973,756
Oakland Banks
Clearings Tuesday .$ 3,083,400
Lee Angeles Banks
Clearings Tuesday $19,223,562
Sales, j IN $1000 High. 1 Low. Close.
8WBKN4s'61 60) 80 80
66iP L M R B s
I cfs '56. .... . 73 I 72 72
J 51 Pa R B 7s '30 109 1109 109
25 do 5s '68 100 (99 99
7 dc gold 6 Vis '36 109 ilOS 108
68 do g m 4 Vis '65 90 89 90
1 do 4s '48 91 91 SI
1 do 4s '52 87 87 87
14)P M rfg 6s '56 96 95 95
12iPhil Ry 4s '37 46v 45 45
6 IP O (3 4c S L 5t
I ser A '70. 97 97 97
2 do 4 s sr A '40 94 94 94
46Rdng gen 4s '97 83 83 83
lOjRGAWe tr 4 '39 65 65 65
12R I AAL4'84 78 78 78
1 1St L I MASgSs'Sl 98 98 98
12) do ref 4s '29. 86 I 85 86
6- do RAGd 4s'33 83 82 83
44iStLSF pl4tA'50 70 70 70
4 do 5s B '60.. 85 85 83
3 do gn 6s C '28 100 100 100 Vi
90 do adj 6s '55.. 75 73 vi 75
196 do inc 6s '60.. 81 59 61
12 St L A So c4s'82 77 78 77
7 do Trm 5s '52. 78 78 78 ,
B8t PM AM4s 33 97 97 97
4 8 A AAPlst4s'43 74 74 74
3;B A L g sta4s'50 53 68 63 U
45 do rfg 4s '59.. 88 87 87
40 do adj 5s . '49. 21 20 21
164 do con 6s '45.. 53 64. 57
4 8 Pao evt 4s '29 91 91 91
14 do rfg 4s '65.. 85 85 85
6 do col tr 4s '49 85' 85 85
1 do 8 F Trm4s'50 82 82 82
43 S By gen 4s '56 66 66 68
27 do con 5s '94.. 95 95 95
68 do 6 Vis '56 .'j. 101' 100 101
1 do M 4c O 4s 88 75 75 75
86 do StLdv 4s'51 80 79 79
6 3d Avrfg 4s '60 61 60 60
do adj 6s '60.1 54! 54 54
5 8tL 4c West4s'60 70 70 70
3 Union Pso 6s '28 104 104 104
21 do 1st 4s '47. 94 91 91
11 do cvt 4s "27. 95 94 95
20Unitd BRStL4s 341 68 63 43
lOIVa Ry 5s '82. . . 97 96 97
2 VsASq en Ss '58 80 80 80
1 Wah 1st 5a '80. 96 .96 96
1 do 24 5s ..... 87 8T 87
lSWstrn Md 4s '52 62 62 42
6 Wstrn Pae 5s '46 82 81 82
2 do 6s '46..... 94 94 94
- 1 Wilkes B 4c E 1st
5s '42 . ..... ,J 62 62 J 42
S Wis Cent gen 4s
'49 80 80 80
WALL STREET STOCK" QUOTATIONS
Reported by Overbeek A Cooke Co. - -
Sales,
itNIHs
I H igh. 1
1 8 V0 jAdams Ex press
. . . . , Advance Bum . .
1500j Austin Nichols .
: SWMltAgr Che . . ..
- 30OI do pfd
' 3 20OiA jax - Rub . . . .
. . . . lAiaska leld: .
; i !Ataska Juneau .
glOOjAliied Ctiem :. .
640iAtlis-CJuUners . .
. . . . . ( at ptd . . . . .
llOOIAtav lit Hug ...
lOOjAm. Hoacit .
279IMtiAmi Can Co
lOW do lfd . . .
8tOjAm Vj A P
100
1100
200
5t0
llOO
700
100
5700
i -)
S30O
SOU
do. ufd
Am Cot OS . .
do pld ......
Am Drug Synd
Am n Sc .
6WAla fcn . ....
An lull vorp
Am lAttseed .
do pfd ....
Am Ijoco
do' pfd ......
Ant Saf Razor
Ant SAC ...
Am Hraelter .
dn pfd .....
Am Hnuff . .
lOOOjAro SUel Kdy .
1300Ani Sugar . , .
500 ac pfd . . . . .
Am Sumatra . .
Am Tel A Tel.
Am Tobacco
do B . .
Am Wool ....
do pfd , .
Am W P pfd. .
Am Zino .. . . .
Anaconda . . .
Ass'd OU
Atchison . . .
do pfd . . , . .
Atl Coast Line.
Atl Gnlf A W
Baldwin Loco . .
do xfd ......
B AO
do pfd ......
Barnsdell Cor "A
do "B"
Beth Steel "B".
Booth Fish . . . ,
B R T .......
Butte C A Z. . .
Butte A Sup . . .
Brfrns Bros "A"
do "B"
Caddo Oil ......
Calif Packing . .
900
280OI
2500
600
200
-1
600
700
400
2000
" 300
140OI
86700;
' 5300
100
1400
1300
67600
200
2600
1000
7041
6500
11001
2200
100
1090(M Calif Pet
Ix-w. Close.
1 73 1 10 1 70
1 0 J 2l ia'nA
61 80 6H
12 11 11 Ji
..,.7,1
.:!.. $ i
71l 69 79
42 41 42
94
39 I 37 39
. 1. .i ... 83
: :: ::::: .
...117 175 1178
,.A 1,- 1122
il 17l 14 16
. 84 I 33 84
.i J ,5
.1 1 1
. 102 ! 49 103
, 27 Vi 26 27
. .,1 sa I o
.tll9Vs!UTll
1.. ..... . . . 120 ,
7 7 T
20 19 -19
00 49 49
. . . . 100
142
43 42- 43
74 73 73
104 108 108
26 25 25
122 121 121
151 149 160
150 148 . 149
93 91 93
110 110 119,
27 -
15 13 15
I 46 43
114 112
110 Vi 98
168
23
115
lOOl do pfd
200 Call Zinc 4s Lead
2200 Can Pec
1500 Cent Leather ...
200 Cerro de Pasco. . .
4600 Chandler Motor..'.
2200 Chi & N W
900 Chi Gt W. ,
1 500 do pfd .......
7600Chili Cop
1400iChino
2700IC M St P.
9100
do pfd
Coca Cola
C & O
Colo P I
Colo Southern . .
Col Gas A ' Elec .
Columbia Graph .
Con Gas
Con Cigars
do pfd .......
Cons Textile . . .
iContl Can
13 200 (Corn Prod
4600!Cosden OH
6000 C B I A P....
200 do "A" pfd . .
do "B" pfd . . .
Crucible , .
do pfd .
Cnba Cane
do pfd ......
Cub Amn Sugar.
Davison Chem .
Del Hud . . .
Del 4c Iack
1 3 00 i Dome Mines ...
1400Elec Stor Battery
1600Endicott Johnson
M00 Erin
2500) do 1st pfd. . .
3000 Famous Players .
.... Fed M dc Smelt
2001 do pfd ......
600iFisk Tire
700Kien Cigars
ZOOOKien Klec
1200
300
300
65001
1200
4100
300
29890
8400
O0
8800
'4800
8600
12600
2300
200
500
89600
600!
7100
200
Gen Motor . .
do 6 . . .
Gen Asphalt
Glidden Paint
SOOIGoodrifh TAB ..
. . .. . , IGlen A Id en . . . .
. . . . , Granby
14TJ0Great Nor Ore ..
4300!Gt Nor lifd
. . . . . ii-rene Canaitea. .
2000jGulf St Stc-el . . .
1700jflouston Oil
600 1 Hupp Motor
2001111s Cent
2700itnniration
100 lint Aer Corp c.
2O0! do pfd
?00Interboro
800 do pfd
11 00 ilnt Harv
L'OOlInt Merc Mraine.
80001 do pfd
2900!Intl Nickel ......
1300Int Paper
1000 lint Comb Eng .. .
2600 llnv Oil
1200llsland Oil
300 1 Jewel Tea
2000IK C Southern ...
6001 do pfd .......
200;Kajmr J
23O0!Kelly-Spgfld
.4300!Kenneoott
4300Eeystone Tire. . . .
500 Lack Steel
SOOlLee Tire .......
2900Lebigh VaUey..
1100
600
2100
2100
800
109
24
118
see
41
"io
19
62
4
12
7
140
45
7
. 55
7
140
84
89
61
82
4
9
' 28
22
35
76
66
26
600
1700
8200
1100
7200
60001
6000
400
Lorillard
Loew Theatres ...
LAN ,
'Lima Loco . . . . .
Marland Oil . . . .
Maxwell Motor A.
do B .........
May Stores
Mex Pet .......
Mex Seaboard ...
Miami -. ,
Middle States Oil.
Midvale Steel ... .
M K TWi. .
Mack Truck
100
2
125
18
102
128
47
82
93
84
62
14
39
25
25
180
40
57
87
10
16
90
50
11
80
178
13
82
41
9
80
54
30
81
74
22
82"
29
11
48
14
48
23
14
41
"6
T6
'is"
162
18
127
64
81
162
221
17
26
11
29
15
54
89
'80 '
18
60
4
14
7
138
44
7
"61
"6
189
82
87
40
78
4
9,
22
21
33
74
65
24
98
2
124
13
100
126
48
31
92
82
59
is
88
23
24
130
40
65
85
10
15
88
50 " '
10
78
175
19
81
40
9
29
54
'8f' '
80
70
22
31
28
11
46
13
47
22
14
40
'4
?4
'4i
161
17
125
63
80
iii
212
16
25
11
28
13
53
112
99
89
109
24
117
HO
40
58
30
19
61
4
14
7
28
189
45
7
80
' 64
91
7
140
84
89
60
82
.
9
26
23
22
85
76
66
25
43
99
2
124
33
80
13
101
127
46
82
94
84
61
89
14
38
24
24
117
129
40
66
87
14
15
90
7
60
10
60
177
13
81
41
9
29
64-
22
80
81
23
73
65
22
106
32
8
29
Vi
160
11
47
13
48
23
14
17
17
52
40 Vi
40
81
6
76
24
63
162
18
126
54
80
41
, 12
162
221
16
26
11
29
14
S3
Sales, , BONDS'
t High.
Mont Power
6300 Mont Ward .... .
400 Mo Pao ........
4600 do pfd .......
100Nat Biscuit ....
lOOO Nat Enamel .....
11 00! Nat Lead ......
100 Nevada Cm ,.,.
630lNew Haven . . . ,
2200 Norfolk 4t VT . . . .
lOOOINor American...
240ONor Pao .
70O N Y Air Brake. .
610O N Y Central. .. . .
$6MiOkU Prod ref. . . .
- 600Orpbeum . ......
700Ont A W . V, , .
- S6000tis Steel .....
. 11 00! Pacific Dev ....
. 17 00; Pas Gaa A Else.
71100 1 Pan Oil .... ...
Jivuv ns Am a-e.. . .
230001 do "B" .....
5500iPenna: .... . ..
140O!Penna Sea Steel
700Peo 'Gas.......
SlOOlPere Marquette
OOOiPhiladelphia Co.
2000!Philllpe Pete . .
700Pierce-Arrow . .
2100!Pieree Oil . . . .
4fMPitU Coal . . . .
8 00 Pitts ft W Ta. .
. SOOOIPunta Alegre . .
)200PuUmaa ......
2200'Pure Oil .....
2800By Cons . . . . .
StOO
800
.2500
2600
Reading
Remington . . .
Beplogla Steel.
Rep IAS..
4S001Royal Dutch OU.
)WKr BU Pg
200 Saxon Motors . . .
7800
100
TOO
11200
11800
7800
2oo6
TOO
C1400
Sears Robuck
Shattuek A ' Arix
Shell T A T...
Sinclair
iShwa Shef.....
6700S Pacific.....
2000Soa Ry.......
do Pfd
Stand O Cel. . .
Stand O Ind . . .
Stand. O N I...
Stand O Ky. . .
St Lj A B P..
Strom berg Carb.
Studebaker . . . .
(Swift A Co. . . .
400IT Cop A Chem
9000ITexss Oil......
4600!Texaa Pae.....
64O0IT. P C A O. . .
7000ITob Products...
220QTraa Cent! Oil .
2001X7 Bag A Paper
2700!Union O Del...
2 800! Union Pae
400iUnited Alloy. . .
BOOll'nited Drug. . .
1500IT7 Pood Prod. .
600l-nited Fruit. . .
300 U Rds N I . ..
2001 do pfd
TJ Retail Stores.
V S O I Pipe. ,
II S T Alcohol . ,
470OIC 8 Hub......
3001 do 1st pfd. . . .
It! 8 Smelt,
2800
11O0
4200
irw
5440OIU S Steel .
2200
8200
100
8001
10OO
2200
1800
8000;
" "ioo
1100
300
300
100
2000:
1400
1800
1000!
100
4000
200'
900
600
700
1000
do pfd
Ctah Coppe ...
Va Chem .....
do pfd ......
Vanadium SteeL.
Vivaudou ......
Wabash . . . . .
do pfd ......
do B pfd . . . .
Wells-Pargo ...
Western Pao . . .
do pfd ......
Western Union .
West'hse A B . .
do E A M ...
West Md . . . .
White Eagle OU.
White Motors . .
White Oil . , . . .
Willys-Overland
do pfd
Wilson Packing .
Woolworth ....
Worth Pump . .
w - & Jj a
26'
17
48
68"
114
21
114
vm a
74
25
92
2
19
20
,83'
45
91
88
46
8
1
80
89
44
. . . .
84
47
125
27
13
76
82 "
21
44
63
si"
85
81
84'
22
118
i92
22"
63
119
-
8
47
20
19
63
11
41
IS
140
85
75
6
152
25
70
28
62
49
93
87
101
121
61
4i
14
8
24
15
55
58
11
32
6
85
211
27
9
low. 1 Cia
19
15
41
41 t
113
0
118
74
24
91
2
19
24
, T
82
45
84
88
46
8
90
28
88
41
4
38
46
122
26
12
74
81
21 .
44
63
79
85
80
88"
21
109
184
"21"
58
116
' 'k
45
19
18
51
10
66
14
189
94
75
6
161
25
69
28
60
47 H
93
87
99
120
59
59
is
8
23
15
54
57
11 -
81
8
34
210
26
8
STANDARD OIL ISSUES
SOOIAngloiAm OU
40OlAUantio Lobos
265Bnckeye P L...
85 Crescent P L. . .
50IOsl Sig Oil . . .
20IHum Oil A Bef, .
40 111 P L
495 Imp Oil of Can. .
155 Ind P It. . . .
18800 Int Pet Co Ltd. ,
140IMsgnolia Pet . . ,
lOOINat Transit ....
140IN T Transit
10 Northern PL...
295 Ohio Oil .......
240 Prairie P Lr. . . ..
80 Son Penn Oil . . .
TOO S O Col new. , . .
44700 do Ind
80 do Kan. ......
10OO do Ky new
135 do N Y
6400 do N Y new. . .
SI 0 Vacuum Oil ....
. 790) do new
10S.OOf do N J new . . .
19
7
11
42
65
225
163
110
110
20
232
24
203
121
283
802
170
67
114
650
109
530
45
413
89
89
18
7 .
108
41
55
225
163 .
106
108
20
227
' 24
202
121
380 '
300
169
65
110
520
43
570
87
S7 38
67
26
14
43
62
118'
13
21
114
89
75
23
92
2
19
20
8
1
: 82
45
90
88
, 45
, 8
91
80
39
43
10
4
87 ,
84
47
125
27
12
81
21
45
62
109
S
80
T
85
31
38
89
22
61
112
118
192
108
21
62
118
107
9
46
20
19
52
11
67
14
189
83
74
4
151
11
26
49
23
41
49
93
36 d
100
120
61 .
24 !
61
82
14
8
24
17
89
15
64
109
rv.
ui, ...
SR I
11
82
47
4
5
88
85
.211
26
9
19
7
109 r
42 .:
55
225
163
111
109
21
230
24
202
121
2 HO
302
169
67
118
650
109
530
45
613
38
Northwest Business Changes
EatartviHe, Wash.. Nor.' 28. -Griffith and
Graeber brother nave started building a xtnp
just north, of Eatoavflle .to log three sections
of timber for the St.. Paul 4t Taootna Lumber
company of Tacoma.' They wfA empkiv about
? J0.- -The . loa win lie haa led fcy into
truck to Ohop lake and th.. a li Jl. .
r. They win i-T .ZrY- "JK
- ' "r s BsTsey
the
laQroad and shipped to Tacoma.' J'
Cbehahs, Wash.. Nov. 28. C. A. Aadersoni
of South Bead has dlspoaed of timber Interest
on North river to the Abenlem Inmber concern!
for $3A.0O6, - The holdings were acquired by
Anderson about 89 years ago through home!
stead and Umbar rights. ' - , I
' ' ' i
. Don't coma to office you can phon
lt-Cyour want ad) to Th Journal. j
'Total sales, stocks.
Total sales, bonds,
1,010.000 shares.
$41,222,000.
FOREIGN" "EXCHANGE BATES
- Corrected daily by the foreign exchange de
partment of the United States National bank.
Quotations' below (except tbe pound ster
ling) are quoted on the basis of 100 units
foreign currency.
Opening nominal rates on bank transactions:
Draft Cable
London Lbs. Checks, Transfers.
sterling ..$5.62 $ 4,62 9-16
Paris, francs. . . 6.89 6.90
Belgium, francs.- . 6.83 6.84
Berlin, marks, 101 3-16 .Ol 3-16.
Genoa, lire 4.75 4.76
Athens, drachma 1.60 . 1.52 4
Copenhaken.. .
., Kroner . . . 20.85 20.46 -
Kroner 18.46 18-59
Stockholm.
Christiania. . -.:
Kroner .... 26.89 26.94 .
Hongkong, cur. ... 68.23 . 63.60
Japan, yen.,.; 48.66 48.70
Bnangnat, tseia. ll.vv -ji.au
Canadian dollar discount,
Par
Value.
$ 4.866
' 19.80
, 19.30
28.81
19.80
19.80
26.70
: 26.70
26.70
per cent
With These Tests
t .. .:'. -a-. . ... . . . t .y '..
the Experienced Investor
Safeguards His Surplus Funds
Louisville Gas & Electric Company
First and Bafgadlar Mortgaft
e- jtioaas, ae ism
Safty of PrincipaL With property
valued at over $33,000,000 this $18,
: 805,000 bond issue is a first mortgage
subject only to a closed mortgage on
part of the - property amounting to
$1,195,000. . In other words, in this
great utility company a $1000 bond of
- this issue is secured by over "$1700 of
good public utility property value. .
Definite Income.! For the years to
Sept. 31. 1921 and 1922, the net e&rn
" ings " of the company were over
times mortgage bond interest charges.
, , Considering - the stability of ' utility
: business this ratio of earnings as
" sures dependable interest payments.,'
; Repayment at Slaturity. The history
' of sound utility companies shows a.
record of sound financings, to meet
maturing bond issues as jthey fall due. .
Marketable Value. Application will
be made to list these, bonds on the
New York Stock Exchange. There is
a definite advantage in ' having a
known value should you wish to dis--pose
of your bonds at any time. - ,
Freedom from Care. In investing in
.sound utility bonds you obtain a se
curity in a business with slight flue-
tuations in ; a standardized business r
operating under State regulation and
serving large numbers of people.
Convenient Size. These bonds are ob
tainable in $1000. $.500 and $100 de
nominations. These convenient sizes''
meet any individual's . investment .re
quirements. You can invest your
" funds in these bonds At 91 and in-
. ierest. .Further details about this ..
company and about this bond issue
will be sent upon request. - ' -
GOVERN MEr4T-HUNiaPALrCCr;?CSTlC?l tONDS
routrniAND srAniePomAUD . , .
. ..; , . 6R0A0WAY648I
SAN FRANCISCO-U0S ANGELES-HEW YORK-CHICAGO-SEATTLE-PORT LAN O
Exempt from Federal Income Tax
A Municipal Bond
which combines
safety of principal
certainty and
regularity of
interest payments
liberal return
on your invest
ment. 1
Bonds of Crook County Im
provement District No. 1 are a
tax lien on rich agricultural
lands' worth, four .times Athe
bonded debt. Interest and
principal are payable from di
rect taxes, levied and collected
by the county tax. officials.
Call, write or phone Main 419S
for further information.,
Price to Yield
6.25
G-E-MILLER & COMPAJSjT
Fortlasd
Seattl
JO.
JNieiAi
8. Fraaelseo
Los Aireles
2d Floor N. W. Bank Bldg, PORTLAND. Phone Main 4195
We Offer, When, As
and if Issued: ,
$28,000
- The Remaining' Unsold r
Portion of the $100,000 Issue 7 Closed First
Mortgage Serial Bonds
DOMINION CRE0S0TING
AND LUMBER CO., LTD.
Price 100 rr
-To Yield 4 J
Denominations $1000, $500, $100
Dated Dec 1. 1922 Due Ser. Juno and Dee.
- PRINCIPAL AND INTEREST ;
PAYABLE IN U. S. GOLD
Company Pays Federal Income Tax to 2
ROBERT E. SMITH, President Lumbermens Trust CoTrustee
This issue is secured by all the fixed assets of this Buccess
ful company, which after giving effect to this financing will
show assets of $686,914.86 as of balance sheet of Sept. 30--and
a NET WORTH of $490,670.84 which is almost five
times the amount of this issue." ;,'
Properties consist of a big lumbering mill, 21 acres of water
front properties, timber, logging roads, machinery and equip,
ment. . . v , , .
. .' - - '- V- 1 .
This issue creates no additional debt, ;
. as it is for: purpose of rf tiring mort
gage and reducing current obligations.
15 1V.1VJ i niYTFil
BROADWAY AND "OAK .
FIFTH AND STARK STS
We Of fer a Portion of Our
. ; ; . si 03,000 H
Port of Umpqua, Douglas County Or.
6 General Obligation Bonds
Dated May 15, 1921 ..Due Serially 1931 to 1935
' , Denomination $1000 .
FINANCIAL STATEMENT Assessed valuation of taxable) irop.
erty, 121, $4,683,970. Total bonded lndebtedneea (lncludlne this
iasua). 8333.000. ,
The Port of TJmpo.ua, In , trie ; weatrn half of. tkniglas county,
Oson, compriaea timber, rich farrnlnif and dairying: lands, and
'. th towns of Iteedsport sad Gardiner. Mer
chantable timber within th. diatrlct estimated
at 11.181.500,000 board feet. Dairying, farminar.
Jishln?. stock, -raising: and lumbering ar. the
principal Industrie. Dairy- receipt estimated
, vuwi.iwo annually, vilth SI00.000 from fishing.
- ' Rail and water transportation.
These bonds are a direct obligation of th. entire Port district,
'payable from ad valorem taxes l,i0ed upon all the taxable prop.'
rtjr above described. ,
Examst frem federal Taeen Tax
PRICEIf -M4-
.
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PORTLANlc
INCOSKPOSIATCD
BONDS
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