The Oregon daily journal. (Portland, Or.) 1902-1972, December 21, 1922, Image 18

The Oregon daily journal., December 21, 1922, Page 18, Image 18

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Newspaper Page TextUNUSUALLY - HEAVY ; VQLUMEi C rVT5 A "T"T TrO TO . OATTTT , ITT T A'Tx-' ?i TT iri sr.lEXJCAfJ PEFEA I RUNAWAY AFFAIR a a a i. .. .... . j. . ... . . . lTair Street. Nev York. Dee. 21. Opera, tioaa tarn- the rie- held the-npper hand in so dar 'e stock auiktt. - , - . It was the mm nsr - ''.J! row professional rpeea '. letton that bad torn (nn( ea tor a Ion ma ht er -mare, ba ttaa main point waa that pvofaanmul efforta to advene prices .enrenn tered - no formidable amonnt of ml seiUiuc. In this there waa fnr- Mr''! n2y ' negative sort; 01 me coniuienee vrttfi which holders of - tb mora' nmesentattve uidiutrial Mocks feel recanting the - outlook. There waa w little to the way of news to influence too Tartans price movements. OiJ were the leaden of tba market. Int. a Of in AntlmniMrii . m . Im .i iuelt. Tba peat opinion ia that, tba tiiti-.l poauton baa m improii that hicher prices for ootk- crnde oil and refined product are likely to bo area early in the new rear. Bat 1 I immedJat incentive today were foand- in a- sensational jump ia alexican Pe T,,?U" J btiyin af a eery eacer rt in ahtomie Petroleum. Inaamorlt aa there is only; 10 per cent of the original Mexican Pe troleum new outstanding,-it: would -be an easy matter , for speculators to mark the price op " "L Bnt wu r was inclined 4eredit reason of- another piece of favorable dividend action in the near fntare, this time in . inn shiie of a larre'extra distribution ia cash. ' Rlie for Christmas IndonMectly the speculative dement bad ia mind the historic precedent of a rising market oat Christmas ere a precedent which, has .scarcely ever been broken, even under the most adverse conditions. This led to conaiderabla abort eoeerlng and. with the course of the day, that, ad-ranc. which -at- first had been confined ; to only some dosen or so stocks, became fairly general throughout the industrial Section. Bail way shares as a rale were rathett alnggiah, but there were so too exceptions; notably Lehigh . Valley, when a special inducement waa found - in. the plan expected soon for the segregation of the coal properties. a. . teed Ralls - ttailwiy share-, neglected at the start, were ; taken Bp ia the afternoon under the lead sf ; fehigli Valley,- Reading- and Rot thorn Pacific 1 he rue In Roathrrn Pacific followed the pub lication of the November earning -ihowlna a increase of 33.-77.000 orer the- same vnehtV tn 1921. Uroe earrings she the effect of -the season falling off in the move ment - of farm, products 10 market, decreasing tX 00.000. Net earnings, reflecting both , the falling off in traffic and the continuance - f high maintenance charges were $2,300,109 Jex in November than they were in the month before. .- Among tha industrials the early gains were 'airly- wll sustained sit hough in the last hour there was a ccod deal ot scattered realix ; .Slat by tho profeeaiona following. - ,The stock market today lost tha hesitation which; characterised it on the two preceding 'day .and moved forward quite generally. The best prices aa a. rale were reached toward the close. -. ' -i In the last half hour Baldwin, Studebaker. Ceneral Asphalt and two or three other specu latira favorites were bid up briskly and under tLeir lead the list wound up strong. Oil Shares in ? Leading Position i On. Curb Market : By MTIIBam r. Hefrarnan , Jiew -Tork, Dee. . St. OU shares occupied the leading position on tba curb exchange to il ay. They were influenced, as were the same group oti tba stock exchange, by it he expecta- thn of higher prices for both erode oil and re fined prodacta after tho turn of the year. There was a lot of shifting into the oils from other sections of the market and as a renult some of the recent favorites among the 'Mountain producers and salt Creek producer ,wer .leaders in- tha nptarn, while fractional gains ware eommon, torouenout tne ust gen erally. f Oitiea )errica common, reached higher prices shortly after trading atarted, in .response to the 'publication of net earnings- on the common 'for tho year ended November 80, showing art profits equivalent to S 14.82 on the average ,amount xf common stock oatstaading against ,914.44 ta 121. t - The declaration of the regular quarterly dividend of S2 a share by Prairie Pipeline had evidently been discounted sad the stock reacted r s pensa. .- V . .' In addition to the Cegular quarteny'divideBd f S2.S0 a share. National Fuel Oaa Co. de- ciared a 10O per -cent stock dividend increasing ktbe outstanding amount S3T.000.000. This ifiridend In stork is payable to stockholder ha record Lfeccsabef 13. NEWrYORIw BOND TRANSACTIONS ' sUported by The Josmal'a Wan flu set Baraes - ' - , f eaerae T. Maflhas WaU Btrest, New rot. Use. 21. A snarp advance in Brierhul tsteel as -waa tha -feature ml toe, bond aiaitit today. t'sdtt very ectrre deaieia at Khund 2 ovtata to - JJ atrbrtuU 'company- -Wednaaday - approved stae aale of the eempaay to the, Icungitown .Bheet Tube company god the merger was (rre aa tha explanation for tha actlTtty to Jha Vxmitm beads displayed more activity to day -Chan--for aosne time peat. Kreneh be had an-advance a pert of wtuea tbey subetantially lost. A good deal of tataceae was aaaxuteated in the seml-ofTlcisI oemsi toax- rrance con templated any sew tiuancing in this market. The report to the contrary was founded a the statement bv Mr. lmoat that while Amer ican investor would not buy tiermsa bonds at this time they were perTactiy wuimg ts xase Jfrenea obugationa. Much- of the current paa anaana aa to the rlvocfc Budget would b rlwmalad if it -were retimed that the expendi- tarea lor restoration of the devastated regions are really a caonai eharge. L'nreea luncane ms of 1S2U and xiraatt . THs both re- sponoed to tne xugner pnee swnioe n c nance. f sited kyingdore .-He of- la7. bini s iad Momsi be all sained ground la the railroad bit. Paul bends moved irregularly. , The Paget Hound -4s- made a new tow on this movement and the - St. Paul 4a of 12 a lost mere ground, but the con vertible 4i were higher, atoms buying or- were Knorted in this iasue. St. Louis aV Soatowestera t'onsotidsted 4a sold higher. Tha is a short term issue selling nil per cent baaia.-. international Mercantile Marine a moved unoertainiy. - probably ia aecord with doubt expressed ia the stock market over tne pre ferred dividend, although there . ia bo reason to beneve the bond is anything but sound investment; . - There waa further quiet absorption of the Liberty teens. All the old 4H moved up. On the other' hand, the demand- for the tax exempt 8Hs was not quite so strong. j ew Tork. tcc.' 21.- Followmg m an i nl f Iris I ht of bond traded in oa the New Tork Stock Exchange tcuay with ztrices up to and iuelading the elo cf the market. Total sate today were 10.42t.30O against l'.i00? yesterday. 24.262.000 a week ago. $18,981, 000 year ago and 2BJb2.0oO two yean Frem January 1 to imtei. .909 againrt $3.290.944OO a " year ago and 3.806.168,060 two years ago. - - -LIPEETT BONDS Low. Closel Salea. I In S100O I High. . 102ILlb Stta '32-4Til0064l064 428 ; 4s 11H 22 do 8 Vis rg'32-47 do 2d 4s '27-42 do lst4 Hs'32-47 do l-2d 4 i '31-47 -.. do 2d4 Hs'27-42 do 2d 4 'is reg '27-42 do 3d 4H 2S do 3d 4 eTS'Se 101H) do 4th 4xi '31 10C4610O4 BS06I I8N 884l 9884 9930 9828 920! 9888 9874 988 9H50 10038 10O10 9996 10060 10046 9800 98901 9980 9824 980 9880 9886 9870 9870 9880 9866 9850 9850 10082 10034 10006jl0006 99941 9994 11 26 48 H 49H 18 6 6 " 2 4 a 93 s 78 V. 86 H 98 Vi 96 Vi 191 103 103 - SI 96 H 974 97 ?. 98 8H 109 H 86 H 101 Vi 98 H 99 H I 99H 93 tk 93 Vi 94 98 96 H 814 78 H M 50 Vi 36 90 112 99 . 75 Vi 108 97 96 98 98 78 104 11H 118 100' 101 100. 96 93. 78 96 96 j 95 101 102 61 96 97 97 95 8 109 98 86 tot 9 99 99 92 2 94 -98 96 81 78 50 59 88 90 111 75 108 97 96 98 98 78 104 117 113 100 101 100 f i Tha campaign in . the Do rant issues showed mo - signs ot let-np.. Reo afotor also Mem ami at . higher prices. in i v.. r uaaiu.i s.nA.lur, kaieb ,; Corrected dally by tha foreign exchange de- ;'partnient of the United State National bank. . - Quotatiooa below (except the pound sterling) rare quoted oa the basis of 100 units foreign sourrency. -- Opening nominal rates ott Dank transactiona-. M '- j Xrraft . , Cable Par t 1 ' - Checks.. Transfers. .Tahw. Xondorr - , . i - Lbs. sterKng.S 4 62 8 4.63 3 4.866 r-sru r rancs.. i.a 7.46 ..Betemm rranes 6.87 6.88 Berlin Marks, .0155 .0135 ', Lire. . S.08 5.09 . "Athens ' Drachmas . . 1.22 1.24 - 'Qorwnhsgsit ' -. Kroner i. , - !3insriania' : t r Kroner . . . 18-90 Stockholm. : t Kroner- . . , . 26.91 Honxkong -I Currency. T . 52.73" .Japan Ten.. 48.83 - tianghal ? . Taals ..... 7.4ft I Canadian dollar discount and per cent Ji . J vimv, i , .:-.i ?'' On Talk Bilsr InstaBed v 7 Kelso. Wash.,- Dec 21. The Ostraader tHaiiway at nmoer company is installing . a large crude oil storage tank on Oatxander creek - near the Oatrander eomnanva vnclrs - T ooarerting its engines from wood burners to 20.58 ' - 20.63 '26.91 " 80.30 49.00 70.10 19.30 19.30, 23.81 19.30 19.80 f 26.70 . 26.70, 26.79 I ,1 I 1 Let us serve yourneetisin .Printing Wm cm put cH penonat : srfdiHemf fn( yomr : - .. F.W. Baltes & Company De4-. FIRST AKDOAK Overbeck iS CcoSeCo it i A MOSZU stocks, ec::ds. ; caAiN y;D cottd Losan Bryan Stir lOKX AJTD CHICAG M do4th4a rg'Sn 95Tio 4s '23. . 29 do 4 rg '23 1190 L'S A 4 Via '47-52 foreign Bonds 28 Argentine 7a '27. 100 13 Belgium 7a '45 101 , 271 do 8s !..... llOi 89 do 6s '25..... 96 43 BolivU 8s '47. .'. Bordeaux 6s '34 Brasil 8s '41. . . do 7s rets '52 do 7L ret '62 Chile 8a '26.... do 8s '41 do 8s cfs '46. . Chi Got Ry 5s '61 do 8s etfs '52 . . Christjania 8s '46 Colombia '27 81Cuba 5a "04. . . . 7;CxechalT 8s cfs '51 1 Denmark 6a '46. 7 Denmk cfs 6s '42 26 Dt Seine 7s to '42 32 iD Can 8s notes '29 -22 do 5a "26.. 166 do 6s 52.. 10 do 5a '31. . 19 DutchEIrct 6s .'47 as do ns '62 ..... 88 Fronch 7s '41. 58 do 8s '45 , 31 Haiti 6s '52. . 6 Jap ser loan 4'81 10 Marseilles 6 '84. - 91 Mexico 3a '46 . . . 20 do large Be '54. 7 do 4a '54 2 Montevideo 7a '52 7!.Vorwsv 8s '4B. :31i do 6s ctfg '62.. 20!Prag 7aefs-52. 6 Queensland 7s '41 BV Grand deS8a'46 -iKio de 1 8acfs'47 3 Sao PauloCty8s32 a; do state 2a '36. 2iAoinaana 6a '36.. SSjSwedan 6a '39..J zu Swiss 8s 40 174Cn Kings '29 rSt10 ' 104I104 iv, Uruguay b (103 105 NEW - TORK CTTT Bfivnt 63 T City 4a'60101 llOl T101 50 do4s 62 reg'd 102 1102 102 MISCELLANEOl'8 AND IXDC8TBIAL - BONDS 21ACJD ed 6sA 25. . 10 AAChem 7s"41 6 do 1st cv 5s'2S. 1 AmSmlt 1st 6s'47 21 Am Bug 6s '37. 2 ATT cvt 6s '25 ! v 61 do col tr 5s6 17 do eel 4a 29.. .; 7 A W Wks 6s '84 31 Ant JCM ev6sr47 22Atl Ret d-s 87 8 Bell of Pa 7e'4B 8 (Barnsdall 8s A'31 - 3 1 Beth SU ref s'42 SOlBeth Sti 6s- ' ,862 BH 8t s'42wi 9930 9616 9806 4 1 ACL 1st e 4s '32 49 B O 6s '39. , 15 da ref 6s '95. . S8f do cvt 4 s '83. i 881 do gold 4s '48. . 141 do pr il 8 s '26 If do8 sPjrMd '26 2 do 3s 8 D '25 2 BRTref c4s 2002 5B R T 7s '21. . 421 do 7strccfat21 - lIBCnEl 1st 3s '20 - 6 Buff R as P.-eoul 4s '37 . 5Can Nor 7a '40. 81 do deb 6s '46 22Can Pac 4s perpl carousiu as as 32)CRy Brsxil7s '52 37iCofGaBy 6a '29 19 CPaelat ref4 '49 iC tt O coo 6s '89 4S o gen 6s '4C, .' 14 do cvt 4 s SO. 2.CAA rfg 3s '49. 37 do 8s '50... ljCBQ gen 4s '58. . tl U II la T1 22JH 28c 5 3. ';: "T I UK', tit West: 'RB 1C 1SI.T IK M 93 78 96 96 96 161 103 103 51 96 97 97 95 86 109 98 . 86 101 99 99 99 93 93 94 98 96 81 78 50 60 86 90 113 99 73 108 97 96 98 98 78 104 118 113 104 108 I 1 5 1 t o BU Ed 6s arB'30 do -ten 7anC'3Q 106, 17 7. rt-'SA loli r 6 49 39 ' 2 1 B, E 7a I '40. do s "40 .i B U Ot5s '45.. do CI '47. . B T B Ss '60.. 2C 8 .7s '42. . am O K 6s '42.. 2k P 6.8t. ... 3!C It gen5s "23. C ert 8s '31 O C cvt 7s -23'. . do cot tr 6s '82. iO G dc E 5s '37, do As sta '27 98 166 90 191 ,llCom, P-6s '4T, . 1 C-T R 6s '41 21 O C M ii '60.. 19 C 1 6 '52.... 1 OPS f 5g,.'34; lOCaS 6s 1'42 . 7 Cuba C Bug '8s eta '30 11 Cub Am Bug 881 liea lias aa SI. OlDory 7a 4 ... ' I Det Ed rfg 6a "40 8 do rfg oa '40. . . 6'Doa SU ref 7s'42 7jlup de N 7s81 is uuq LtPti '49 5 do 7 Via '36.. 27iE Cub Sue7 sa7 !4BftFtrtJJ cxS -37 ...v, 13 Fnk Run s '41 lOlFrlD deb 7s'42 niu- b.t det s '40. i r oo oeo sa '92 . . 10 Goodrich -st 6s I '47 cfs 7WJ'year Tire 8a 41 3S do 831..,. 43 O Falls Few 5s'40 13 Hersh Ch 6s 48 9,HollAL 6s rcts'47 26 Hn aad3tts'32 6:111 Bteel d4 a'40i v ina Bteei 5s 62. 16.1ntt Paper B 47 28,lutl M M SF6s'41 !4 suyser 7a '42. 3 K Snriae T Ss'ai 10 Kana AB. 6s52 Slck Steel 5a '50 i luggeti at si is 44 lSj do 3s '51. 8 Lonllard 7s '44 1 tMsgma Cpct7s'S2 at dTaer42 : 1 Mar O Ss war 31 ' Mini "e -36.. 9 M St. Tel 5 '24 , 4 M'vale St cvt5'3fi I 6 Moat Pwrltt3a'43 f MomttlVI H i'IU 40,.arrT ::lst,s -A I '62 . MY K4 Co refBe -;-; 'u.. -iiiiii9 ; !-- s UUUarlr ; I .W 4a '49 .. l 83 10 do 5a '48 ,2 3 NY Btmshp .'47 7j 97 41SY Tel deb ns'4lloa u. !iu "t do" aea 4 s '3w. 93) 99 231 do ref a '41 . .10 jl6H ? ?3 : -.. J k 'awri ws rout esf f 93 108 108 191:- 95 ' 98 94 10-: 106 io 9T 96 103 92 97 103 f 88 ' 98 184 118 96 x 97 -96 88 97 88 92 101 02 92 166 88 98 103 96 89 197 108 106 96 4 166 90 105 191 21NuntoTL 4Tt 94 I 99 14iM StP 1st ns 41 a 9sJ 12I.V MeH Tel ?e41jl Slt r tJntL. k aa 43.t ,OhioPu in 7 aj I '47 il ilt .I1U3 Vlmxxi. on OS vi. . 1 ai 119 7 PC4,AK1 3s '43. f 92 I 92 til 7 PacPodttA 5e 'SMI 92 I 91 it J lOfPaeTekT a '7.f 9 j 97 271 do ref ea '63 -eJ 91 98 i 98f 98. 19x1 88 91 10 93 jl05 13 94 93 1 96. ;. 103 99 92 92 97 i 91 638inPipeL 5eefe'47 1 SharSUioop 8s'41 - 2iSPB Sue 7s '41 SiStanOU Cat deb i 7s .'31 2:8TCo of ATs'51 liSugOrieat 7s'44 2ToledoEd lat7s'41 .,4jTe- E P 6a,'47 5 To Prod . 7a 31. 89 a 97 too . 164T 191 97 106 94 193 7 2ft7a B aV P6acts'42 41 do Otl Cal 62'4212 2 do Tana: C 7s o:i04 6 do Drug 8s '311112 9) da F Use s '361 98 -liU ' S Rcaleslmpl I 5s. 24 . ; 99 H OS 4ZI 5 U Stores R 1U S Rub 7s '30 29i do 5s '47. . . . , 16 C 8 SU a f 5s 63 llC P A. is 3a '30 i (to I ak r 6a '44 6Va-Car O 6s '24 do 7s sr A "47 do cvt 7s ser A warta "37 Saletin 1000S v ' JEeh. Low. J CJosa. 6,l'ackaiilot ba vali0 , OlPAmPakT 7a '80.1162 1192 1102 l-PhlCo ref e 4410O I 99 I 99 . JOiPngar.NJ 6s '59. 1 85 84 83 sojc- si one evs oeei 1 ' 1 f . I Ta "87 .....1107 M19T U07 lOjProdaVRef 8s -81 1108 110 -1108 LOiRem Int 1st 6sj , A cfs :T ....I HI 83 2;Rep I Jfc 8t 5s '40 94 I 94 I 94 . eieaaa ex f 7S 4gilf l I4O0 16 BioC Oil s'26 98f 96 j 98 i io if .;)! :' lleUM An mil WALL STREET STOCIC QUOTATIONS fICDIPAM CTCCh LlUunlt OILLL RULING MARKET 88 7 100 ; 195 101 97 106 94 103 97 101 (104 112 97 10 10 do ev 7 Vie A 37 83 ' jW S R 7s '41.. (108 llW ft Pew 3s '68 91 21. do 7s '33. ... . 108. V U 6s '36. . . 199 4Watgha El Tr 31 197 llWm KA 7s '41 101 12'V S Stl 7s '36 94 OiWUsoo 1st s '41 lt0 81 do cvt 6 . 1 93 i do 7Vs '31 . . .103103 j!08 RAILROAD BONDS 99 190ValOO 108 88 193 9114 87 96 96 v 91 J108' 9 102 90 r 87 93 95 91 83 103 91 103 109 107 191 U : 98 100 93 89 97a 100 : 103 161 97 106 4 103 97 102 104 112 97 99 (100 b8 -103 90 87 Vs 95 96 1 91 88 103 91 103 109 107. 101 94 ' 10 93 h 28 AT8F (an 4s '95; 12Ota:8tP 4s '89. 20i do 4 s '8ft. . 162 do cvt 4s '32 43 do rfg 4 sA 2014 do cvt Ss B 2014 do 4s '25. . . do deb 4s '84 C M Paget 8. 1st 4s '48 CSVf 6s '36. CNW am 4s-'87. do gea 5s '87. Chi By Co 6s 27 CHI rfg 4s '34. . CTHS IstAref 6s) 60 ...... Chi U Sta 4s'63 Obi -MT I e 4a 53 . - . C C C 4V St L-U ser A '29 Cleve V T 6t'72 Cold 4. Boa 1st 4sl '29 ...... do rfg 4s '85 iCuban R R fie 62 6 j Dels H 3a'87 llDefctt i COB 4S 56 6 1 Det CRy 4s '82 aiEna 1st ca7sexo 49 64 46 1 1 14 1 4 89 3 2 39 22 "I 1 121 3 89 88 191 83 79 80 93 77 91 66. 87 83- 83 92"- 112 111 79 93 86 too 87 - 100 94 89 52 24 -88 10O 7 -81 07 71 8 63 58 65 75 65 23 64 10 41 do gen la 4s96 -do pr - In 4s96. do cv 4s sr A'63 do cv 4asrD'68 llFndaJscO 4s'62 llGd. Tk Can 7s'40 19) do 6s '86. 16tGt North, 7a '36 25 do 4s "61 14 do 6s '62... 3 HiiERLAP 6a'54 31LUAM ref 6 A 67 87 do adj ine 5s '57 SIBCOm dlT 3s'31 26 do 5s-o4 .-. 16 do rfr 4s '65. ... 7 Int Met 4 Via '56 . 203) do efs4 a eta' 86 ;. 64IIBT crt 7a- wi '82 46 .do ref 5a '66 . . .15 do ref 5s brka cfs '66 . i.. 84 do 6s wi '32..: 10 Int O N 6s cfs 41 41 do sdj 6e wi 52 2 Ia Cent ref 4a '51 6 K CFtSAM 4s 36 6;K C Sou1 let es'50, lOIKCTer 1st 4s '60' Bin. C 4 sta '49 11 4 ILEA- 2d 5e '41.. 6 LSMS deb 4s '28. 21 do deb 4s '31. . 2tL:T gen 4s 2008 -ZiL ec & 5 '63. - " 5(1,1 nr 4s 'it 4 Ini44 '40! l)lX9iUt It 4S 52 ' lMkt St Ry"6s 24 1 0 Mich C db 4s '29 MJ5 B L, Bs '61 1M 8 N 4a '47 6'MSL. 1st rfg 4s40i 63 110 86 104 77 79 90 101 104 92 86 83 IOI 47 8 103 48 55 , 42 43 73 112 . . t 1 54 1 6 ... 5 82! 11 171 67 . 4 8 , 61 8 2 1 .- 36 188 MSTa-SSM 5s '28 I do con. 4s '88 MKaVT 1st 4s '901 do 6s A w i '42 do-6s cfs '42. . .do adiSa A w i'67 do 6a C wi .'42 M Pee 5a '63.. de 6a 49. . . do sen 4 '75. Montreal Tram refj h. s -41 . . ... . . Nassau Elee4s '61 N tMrA-NE 4 s62 I do term 4a '58: 88 88 10O 82 79 T9 93 77 91 66 87 82 83 92 ' 113 . 89 H 88 101 83 79 79 . 93 77 91 56 87 83 83 92 113 lllilll 79 93 85 99 86 100 94 68 52 23 88 10O 79 61 97 70 79 62 08 64 75 68 63 110 85 104 77 81 70 00 74 101 103 92 86. 82 100 47 8 108 43 66 4.2 12 73 113 104 (103 110 i BO 102 82 84 61 68 101 ,8B 1 . 95 73 T2 72 64 49 87 78 69 82 76 83 94 92 81 09 80 90 80 162 90 87 100 88 79V 83 79 0 96 87 98 62 88 59 8t ; 76 79 82 104 do TJbMineSi '85 NTCent en 4s '98! do .deb a-'85. do refaVkas 6sC 2013 I OT li I . 1 . . 1 1 sal no rigattmp 4 si 2013 ...... .1 88-' X T C H R gen I s. -97 f 76 do 4 '34 . .... I Ol XL 22 XTXHHdebOe '481 70 11 do deb 4a '56. . 1 60 7i do deb. 4s 'S7..I 41 4 NTRref4sto e 42i 40 - 10 do a 6s t e '42 4 IStNTWB 4s '46. 46 1 H SBlW cvt 6s '29 113 . 18 N P 6s B 2047. 109 . 20! do pg to 4s '97. 86 - 21 do gea Ss 2047. 62 ; 22!NPrtimp5s 20471 89 iw as v 1st os 'ZTt 99 - ltoSL 1st eon 5s'46 102 h 1 do rfg 4s "20.. I 92 lO-WRRN 4a '61131 38;PLMBR 6s eT58 72 3iPena RR 7a '30. 110 2Z eo no -.;.. . .101 24 da gold 6s 36ill0 281 do gas 4s 66l 92 : 22f dog4al906'2t-4ll 93 ZOiPCUatStiOS STA 781 98 v 4P R 1 4k P 6s'42 84 , : 1) Heading ewa4a 97l 94 8;KOW let 4s49 78 - 4!KlA3:L 4s 'B4 80 liKutftCanHH 4s49( 73 list U Ireei Mt S -l : t gen 63 -i; , .i 97 1 do Umi div4s'S3 4 C 31 lot. L 4k B P pg In j 4s A '59 ....I 79 -. 7( do 6s B '69 . .( 85 -131 de gn 6a4J 38.t 99 231 do adj 6s S3,.t 76 . - 2 do gen 6a '51. . f 99 jBU. BO lag gs 411 79 110 89 102 82 84 61 68 101 B7 8 9 94 71 71 72 64 49 37 " 78 68 82 76 85 ' 94 92 81 99 79 0 80 102 40 87 87 36 99 88 79 83 70 60 96 88 98 t-2 88 39 t 76 79 82 103 ' 421 do eon 4a '2 SStPKC SX. 4 s t 4 I4 e V a -a ' 28 S A L ad5s'49. . 12 do con 6a '45.. 44(S Pso cvt 4s '2. 25 dorfg 4s '55. .. 71 S Ry awn 4s '66. 26$ do eon 5s. "94 . . . 17 3 By 6s '66. . 2 TexP latSs 2000 "3 Third are adi5a'60 1 rCiuoa rae s '28 . 32 da 1st 4s '47. . s,2 do cvt 4s "27. .. , 3'Ta Ry 6a. "62... , SiVaASo coo 5e '58 Si Hi 81 28 22 69 68 92 93 87 87 68 63 97 97" 191 u 1100 97 J 97 56 1 66 194 1194 91 91 93 i 95 1 97' 1 96 9I s 1 do 1st 5s -39.. 1 97 97 li Wabash 2d Ss '891 87! 87 OiMTestn Md 4s S2i 6t 61 tivtesm rso s -4at 94 i 94 J llWest Sards 236lj 83) 83 IjWis Centgn 4s '4i 82 1 62 77 97 87 76 91 69 eo . ,40 40 ' 4 46 112 198 83 62 I 98 99 103 92 81 79 116 106 119 01 92 98 84 84 78, ,89 ;7 - 97 84 69 84 99 76 99 78 , 27 . 79 92 86 99 86 10O 94 88 02 23 aa Xl ieo 79 81 87 71 63 68 66 75 56 68 110 86 104 77 81 Tr 00 73 101 104 92 86 82 101 47 8 - 108 43 55 42 42 73 - 112 104 110 89 102 82 84 r 61 68 101 87 "9 94 71 71 72 64 49 t 37 ' 78 68 82 78 , 85 94 92 81 99 79 0 80 102 90 Vi 87 87 as-, 100 88 79 83 79 60 96 87 , 98 63 88 81 f 76 79 82 103 -97 88 : -76 91 09 50 40 " 40 4H 49 . 113 ; 108 86 82., 9V. 99 102 92 81 72 110 104 lit 92 92 08 84 84 78 80 72 ... ' 1, '- 97 70 4 99 S 76 99 78. --. 17 81 2 59 92 87 68 : 97 "i 100 97 - 36-i 104 OIK 9 97 89 97 7 61 4 -, i 83 1 82 . TJ.C HeyWv - ' ! (Coprrisht. 1922. by The Journal) ' New Tork. Dec. 21. The American steel industry is leading the life of Riley, so far aa the world's ex?ort hnmees as concerned, More over the steel mills of the country probably will continue to domi nate foreign ? markets until the German repa rstioos - problems, are settled and for. aocae time thereafter. - Leading steel experts here declared today that they he wttle fear of foreign competition in the Near or Far East, South America or in deed ia much of En rope. France, with the- Lorraine iron de posits in . her control, needs German coke, the steei men explained. (Germany needs French iron Ores. France baa attempted, to bring pressure to -bear for a workijig agreement with the btinnes interests and the three of - Ruhr eecupataea - ia said to have been used in this lespect. : - . ... .. . . - : Amerioan Mills. Domrnate - Stinnaa has countered by auggasting to Bng- Jash financial interests that Britain supply some ex tne commodities neeoea ana enaro m a sxoee campaign -for world markets. ' Each country, the eteel men declared, waa playing the other two off agaiinn eacn other. In the meantime, Pittsburg. Young town. Cleveland and Chicago steel mills are running at the beat December rate-recorded since 1917. The American steel trade ia in excellent position to counteract sny influence that may be brought to bear on the Southern European, South American or Aus tralian markets. r : Steel men contend, that whichever way Ger many jumps America still will be in a domi nating position, for the steel industry here is regarded ss strong enough to override any po rt Ci ton in the Franco-Oerman steel alliance, while it is felt that British steel interests will not go so far in any negotiations with Stinnea as. to endanger the markets that Kngliah -industry always held safe from Uermaxc qompsuV tion.. ,-..---' . . -. x , .- ;l 7 j - .Mint RunnlSf FuH Blatt -,-: The majority pf the steel mills are running full blast -and some which "here expected' to elose a full week from December 28 will re some operations at full speed .the day after Christmas. , Domestic orders and inquiries are heavy. One - company ia in the market for 200,000 tons of steel bars. Pending orders for freight cata will require at least 50O.00O tons of steel, and oaa railroad in the South will re quire 14.000 tons of rails shortly. Portland cement plants are turning out that necessary building material at a tremendous rate and tt ia being taken off the makers' hands aa fast aa it can be produced. The output for this month is expected to exceed 12.000,000 barreia, . u - ; ' Christmas Turksea Chseser Christmas tnrkera. aa was nredieted in these columns, will be lower in price than we 10 the Thanksgiving birds. The decrease in various sections of the countryt averages about 10c a pound to the consumer. In Seattle today deal- en-are selling turkeys at SOe a pound, which they bought at Thanksgiving tiine at 40c and which have been in cold storage since that time. Sales of tobacco, cigars and cigarettes nave increased tremendously over last year, some companies reporting today that their December business is running at least 100 per cent above the corresponding period of 1921. . Sales -ol leaf tobacco are proceeding briskly and -loans by the War Finance corporation to groweia to finance marketing have greatly strengthened the position ot the growers. CleStrle Business Gaining : Electric supply plant are running at a rate well in excess of pre-war capacity. The Gen eral Electric company business for the year is estimated at about 8200,000,000, and it is expected that 1923 will show new business booked in excess of 8240,000,900. More elec tric locomotives are being made by W eating house than ever before.' It is rehably reported today that negotia tions by which the Calumet Jr. Heele Mining company, great ptudmets of copper, will take over big brass manufacturing interests in De troit, are, well wider way. by Overbore: Cooke Ca, Sales. 100 1 Adam Expr ;'8 lOOl 1100 1 High. Lew. Bid. 100 Austin Ku Nieboie f1 FURNITURE ' Minneapolis, Dec. 21. Carload shipments of furniture from the Twin Cities increased 50 per cent this year. One group of associa tion dealers alone sent out shipments to North west retailers valued at mora than $350,000. H ' ;' , BRICK 1 Pittsburg, Dee. 21. The Refractory com pany of Pennsylvania and the Central Refrac tory company of Ohio have consolidated into the fourth largest, brick company in- the United States. . - - , LUMBER - y-- ' Boston, Dec. 21. The market for lumber continues to exhibit firmness today. Spruce is holding its recent . advance and yellow pine is quoted at the top prices of the year. ' ' '.' ' RICK . Sacramento. Dec 21. The rice outlook here is not bright. There is a large crop in the warehouses today and demand is small Brokers gar the Oriental crop have been heavy. f' ' DRY. GOODS k : : ' New Orleans. Dec 21. It is estimated to day that between 38.00O.OOO and ilO.OM.. 0O0 will' be spent on Christmaa gifts in this City una year. ji ims aunt, merchanta aay more than half will be for gifts ot a useful nature, , ""-- COTTON -, . ' Houston, Texas, Dec. 21. On the bsxis of the estimate by the department of agriculture, the 8.290,060 bales of cotton grown in Texas (iua year wtll mean more than 6300,000,000 in new wealth to" the-community, not counting- returns from cottonseed.' Farmers are get ting $48 a ton for seed,- while mills are selling meal at $48 to $50 and hulls at $12.75 a ton. FARM PBODCOTB ''""'? St. Paul. Dec , 21. Although ' farm prod uct are bringing better prices today, the farm, era ol the Northwest are buying necessities and wholesalers and Jobbers' here are being called en to furnish staples rather than novelties to the country merchants. -, . ,. COAL r Union town, "Pa., Dec 21.- -Miners who left thai field during the- strike are returning to their old places. . JSegro workmen brought from the South are leaving the district. Coke pre- d notion ia ahead of consumption. - The holi days are expected to interrupt production. 'r --. , v. ! steel I V;V : Tank-ton, 8. Tt.i Deo. 21. - Anthorixation has been given fdr the letting of the contract of the steel of superstructure of the new $1, O00.0OO bridge spanning the Missouri river here. . ' - "i - s FarreB. Pa.. Dec 21. United States Steel plant operations - here are en a ' 10-0 per cent basis, except the steel and wire mills,' which are running 75 per cent.. r'-"' t-i'V-- ' POTTERY ' :-- . ;-i Eaat Uvoroool. Ohio. Dec 21Settlement of the general pottery war strike has brought buyer from aS parte of the country, to this place. The' shortage .of stocks has resulted in the placing of rush orders. Buying of white and decorated .. dinnerware for January and ("eoruary oeuvery wneavy. Htraay plant op eration for the first- half of next year la as POTATOE3 Atlanta, Dee. 21. L. B. Jackson, director of the Georgia market bureau, nas protested to the Southern Freight . association, ' declaring sweet potato growers of Georgia, Alabama and South Carolina are being- discriminated -f-fft in rams wmcn lavor growers ot Aw Jen Virginia and Maryland. s,. San Francisco. Dec 21. Potatoes are in heavy supply today. Poor stock is cheap, but high-trade potatoes ? command prieee running close to 3c a pound retail. The California crop w- nsuvim uuuw wm isi, w - Pierre. 8. D.. Dec 2 1. South Dakota, with a yield of 8,000.000 bushehls this year, new ranks sixteenth among the potato-raising states. The value of the state's crop is estimated, this year as : ee.yoo.uow-. - : .-.-...ri Chicaeo, Deo. 21j Orders for spring -wool- ena are extremely goon in xoxs section and now are running about 40 per cent above those of a year ago. Winter overcoat stocks here are almost so .a out. races roc woolen goods are expectsa to oononue iirm. . . ti Forelam Bxefenagw Market New Tork. Dee. 21. (L S.I IsJ sterling 34.63. Fraae eablea 37.46; checks 87.43. Ure csbies 3.09; eneeks 8.08. Belgian cables $6.88: checks 86.87 vi. Marks .0168- Guilder cable $39.80; check $39.77 1- Bweden kronen eablea 826.98 1 cheeks $26.94. Norway kronaa cables $18.97; checks $18.98. Denmark kronen cables $20.06: checks $29.61. r-. .- v -i.ft--- ---i- -- i ' -x- Ch ed ...w. Ajax Rubber Gold - . , 1 000 Alaska Juneau 4600 Allied Chem . . 800iAiMs-thalmers 49iAm,Beet Sugar. . Uam Hoseb , . eoUOiAss Caar Ca - 1200 Ana Car as Pay.. dO : Ptd . , ' -. S0OAm Cot Oil . ... ..1 do pfd ...... .. 100 1 Am Drug SynJ.. '.' 200 Am Hide Loath do pfd. ...... 2600 Am Ice 1800 Am InU Corp. . 400lAm Linseed ... 800 do pfd ...... 4200 Am- Ixwo 1 . . . . . , . do pfd . . , 100 Am fief Reaor. . 100 Am Snipes Com 1400' Am Smelter . ,. .100 do pfd - . ; . , . . ...... Am Snuff . . . ,. . 500. Am Steel Fdy... . lOOOlAm Sugar '..'... 290 do pfd . . .' . . . (Am Sumatra ... ; 159VAm Tel A Tel . . ....( Am Tobaeoo . . .;..-.( do It 220OAa Wool . .," .... do P pfd . . . , . 80 Am Zine 3tHKAnaoenda ...... 900Am d OU . , . . 80 Atchison ....... v20O do pM 5,...,, . . . . . Atl Coast Line I . 2tOOiAt) Gulf et W 1. 317001Baldwin 1 Loco . . lOOi do pfd ....... 8304!B AO ........ . . . . .( do pfd . . . SaOOiBarnedell Corpa A 200. do B .. ISOOOiBeth Steel B . A ? OOOlnooth Fish . 70(B K T 2 4 00 1 Butte J at Z dOOjButte At Sup 6000Boma Bros A 3400) do H ..... M)iCaddo Oil - 400Caiif Packing bSOOOCalif Pet - . . 101 do pfd . ... 1200Callahaa Zc Ac SOOOjCasadian . Pac - 700;Cea Leather . . lSOOjCerrode Pasco : 1 OOWtChandler Motor 1000C 4k- .N W . . . 700iCh Ot VT ,..'. .. 1 i.d'. ,1 1 - - t 3S 8iri 8 68 12 ., 11 I a a. lr .. I 'it-; "ti" 4$ -. 44 37 87 41 40 - 74 .-, '73 ' 181 ; 179. ii i7, iiiioo 26 s 27 125 Hi" iv. v. ."I!: 7 86 78 74 122 122! "96 93 "60 "49 ioi" 100 91 j 90 'ii" "21 132 127 141 4 " .1. 30 29 60 I $9 4t 4 .. 16 16 . -i 9 I 9 . . ) 82 j 81 !.t44r8 ...J 7 7 ..1 81l 81 .. 7 63 Ldl "'" "" .-tl414Z 32 I 32 44 2 79 1000 3300 900 2200 3500 400 100 400 200 do pfd Chili Cod . Chins . . . . C 31 SOP . do pfd -. . Coco Cola . C AO... Colo F At I Colo Southern 400Col Gas dt Else. 210O 86OO 80O 100 3000 100 Columbia Graph . . Con Gas Cons Cigar de pfd Cons Textile . . . . Contl Can 4400Corn Prod 200i do pfd 26000 Cosden Oil . 4800 C R 1 p do "A" pfd 200 do "B" nfd 2300 Crucible don fd 11100 Cuba Cane 3001 da pfd 500 (Cuban Am Sneer. 300, Davison Chem. . . 1200 200 1100 600 1700 8700 1900 1400 , 100 . J 100 Del dt Hudson Del Jt Lack Dome Mines . . . . Elec 8 tor Battery. Endieott Johnson. Erie .......... do 1h Pfd Famous PUyera . . Fed M tt 8 do pfd ....... Fiak Tire Xoarnn berry Orwanlaation Farmed Bakemv Or.. Dee. 2 1. Ways and aaeana tor xarthering the ioemnbeery industry were d- t iissiiii or giues trom ail sections of Western Oregon here Wednesday. H. n. Mumrord of Liberty eras named president, and Bart Utaaa- dler of elhertdan secretary of a temporary or gsaixaOon formed to study the problem from the standpoint of the glower. Delegate were present from Sheridan, lndependenee. Salem, VVoodbnrn, Canny, bcotta Miila and Wewberg- OOOIGen Cigars 900 Oeu Elec 9 4 00 (Gen Motor 1001 do 6 dot cent . . 25900Gen Asphalt . . . lOOiGIiddin Paint . . . Hicooricn 1 & xt . Kilcn Alden , . . . Granby 7001G S ure . ... . . 8SOOf do pfd 1 00 Oreene Cananea . . 1 700IRulf 8 Steel . . 2400Hou. ton Oil .. , . . . . . . . I Hupp Motor. 20001 111 Cant . . . 2800 Inspiration ... . . lOOJInt Agr Corp . . .1 do sfd 1200 Interbcro 6700! do pfd 800 Int Harr 4O0 Int at u 5300) do nfd 2 0O0 1 Int Nickel . 4 00 1 Int Paper , , 400 1 Int O'mb Bug . . llOOilnv Oil T 1400jlslnd Oil . . SOOlJeWjd Tea . . ... . .....UK C Southern . . do pfd ........ IKayser J ...... 1400 Kelly-Spgfld . . . . 4400 BLeaneeott ...... 16900 Keystone- Tire ... . . . . . Lack Steel . . . . . Lee Tire 6000 Lehigh-Valley . . . . . . Lorillard . . . . 2000 Loew Theatre . , lOOL-ek N- 2700 Lima Loco 7200 Mar land Oil ..... Maxwell Mot "A" 90O do , "B" . - - May Stores . 1 . . . 3000 Mex Pet . . . . . 1400 Mex Seaboard . . . ..... Miami . SOOOlMid tato Oil. . . 10800 Mid vale Steel . . . 140OM K et T wi ... 400 Mack -Truck 100 Mont Power .... 6400 Mont Ward 600 Mo Pie 8800 do pfd ' .--.v. . M St P At S 8 M 4800 Nat Biscuit wi . . 700 Nat Enamel .. . , . 800 Nat vmTl:.:,: S12S Nerad Cott ; 600 -New Haven ..... 200 Norfolk at West. . 4500 Nor American . 2400 Nor - Padfte . . . . ..... Nova Scotia Steel i;. N T Air Brake.. . 3600 N'T CentralT , S00 Okie Prod ref . . 1000 Orphenm . ; . ; . 100 Ontario- W. . " 1000 Otis Steel .7. . . . 800 Piggly Wiggly ; , 2000 P G 4k BT. .' 190O0 Pacific OU . .tJ 64000 Pan Am Pet 7700 do B pfd ,'C'!'. 1800 Penna .';.",. 900 do Sea Steel ". - -Pen Gea -. . . . . , lOOOPere Marquette , 200 Philadelphia Co . 60OO Phillip Pet v . . 4600iPiere-Arrow SOOPieroe Oil . . . i . 24O0Pitts Coal . , . . ..- SflA PM. ' s. . ur v - linii laaaea St -Car. !l0O;Punta, Aiegre . . 2500iPuUman 1290!Pnre Oil 900 1 Ray Cons . .... 10200 (Heading r ISO Remington 600:Reploie Steel . 9 23 26 22 ' 34 ii" 25 104 2 116 38 "ii 109 128 121 62 81 '82 69 "i4" 89 26 81 116 180 44 58 88 10 14 91 2S00 1500 6900 1700 3700 do I & S., do pfd Royal Dutch Oil Ry Steel Sd- ... Saxon Motors .. . Koback . . . Shattaek dt Aria 20;SheU T T,.. 24800 8inc!air .i.",. 6100 Bo Pacific . . , 6000 So Ry . i . . . . ! Sterling Prod , i . 11800 S O Cal ....... S O Ind W8 0 n a ...;.. i.i..JS O Ky-'f.i-.V.' i4eoist x 4k a r.... 360O Strombera' . Carb-. 21000 Studebaker iSwtft At Co.... . 4100'Tenn Cop at Chem ZOOfTexas Oil ...... 900Teza Pa i . . ; . , eOO Tex Pae C At O. 620o!Tost Prods ...... SieoiTrane Contf OU. . 300 !Ti maws RB .... lOaoflfnion OS Dei; s . 4000 f'nKMi Pae i. 1 trnited AQoy .... 10OO C sited Pood Prod. 600;rnited Fruit v. ICnited Rds ot S3 ) do pfd . 4 . 7100'Uni Re mil Storesj XSUW.U B C 1 Pipe. 182 13 48) 444 77 8 27- 26 21 83 69 24 69 13 32 33 6S 11 ----- 1 T " 43 t 87 . 41 73' 169 ; 121 17 $4 10 63 110 27 31 119 6 19 65 8 ,142 .; 87 75 107 .:. 28 122 162 161 ' 94 28 V 19 -49 118:; 101 I' 91 -. il I O 21 181. 112 41 68 30 18 0 : 4 15 9 81 144 43 7 81 66 93 9 143 82 44 2 79 4 9 27 26 21 83 75 70 25 104 2 115 88 ii" 109 128 120 6V 36 '82 68 18 39 25 31 115 ' 180 43 64 87 IO 14 90 181 13 45 olVil'ei 27 -78 112 35 27 78 lllO ij 35 11 48 i 13 62 23 14 20 42 48 37 9 66 59 27 322 18 ii 27 16 65 22 16 48 66 16 21 111 via TO.- 04 1 17 8" 51 87 46 03 83 46! '8 36 48 18 4 60 34 131 27 14 80 '23 45 "! 52 I m i , 89 i; 37 32 88 24 117 194 133 10 45 13 31 23 14 i9 42 43 86 7 66 '18 S7 26 14 262 18 "ii 26 14 65 '22 16 42 ''IP 15 20 111 92 74 92 1 17 6 69 86 43 91 83 45 . H 35 42"" IS 4 68 33. 129 27 14 78 "24I ' 44 v 82 ; 60 i 86 '37 31 87 23 114 10 47 21 21 1 66 12 32 17 4 162 73 i 28 103 2 116 38 81 11 109 129 119 - 51 81 92 81 69 87 18 89 26 81 116 . 180 43 . 54 87 10 0 51 12 82 12 18 82 48 9 33 65 25 31 78 27 78 68 25:; 111 35 31 - -: ' - 00 11 .46V1 18 Vi 52 23 14 -" 10 10 64 !M 43 88 8 74 25 7 167 10 130 46 14 67 802 18 27 H 27 14 55 67 22 16 43 63 36 66 134 10 20 111 95 73 26 26 94 - 114 17 20 "8 61 . 87 46 93 87 45 . 3 93 83 4(1 -42 13 - 4 59.. , 33 ,79 46 139 27 14 79 34 24 45 81 52 1113 1 87 8 37 32 88 24 60 117 116 mxii92 1120 21 i 21 68 f 04 6000 V's Ind Alcohol, VfnA. ir o tw eot no- 1st ptd.-:. . leOOrO .S Snselttnw 21TOO.it 8 Stawt -..ii-. 10Ol do pfd Jt400i7tah Copper,... 400 da rdd : 670O! Vanadium - StseJ.. 160 Tivandoai . t.- SwOlWabaah ....... 70f do B pfd .1,. IWelm-Fnrro'ViM V. OOOIWesterm Pae',,... 2001 do pfd -BOVtWeatern Union 400 Wmtinghouae A B1 lOOl do E a a 26001West Md ...... 8200 White Eagle Oil. i.-' 30 Whit Motors . . 30 White Oil . . .. . BOO Willys-Overland ; . ' 800 do pfd v ; i .. (Wilson Packing ., . 400 Woolworth . . . v.-, -i lOOIWerthington Pump 400W At L E ; STANDARD O TOO Anglo Am Oil 4 v. IOO AU Lobe 435 Buckeye P L i SO Contl OH ... -i .i-. lOOCreaoent P-1. . 75 Cumberland P L. i,425 IU-P AV.,-....-.. ' 800 Imp Oil of Can. ; 75 bid PL.. .. 8100 InU Pet Co Ltd. . 900 Nat Transit ...i. 1 30 Northern P tW. Jl 40 Prairie PI.i. j IO Sou Pens Oil . . 1- 40 Southern P 1, i , i 3600 S O Cal new ... . 1440O S O Ind . . . . ; 1400 H O Ky new . - - . 1 500 S O Kan "B" . 140 SON Y new , 12 001 Vacuum Oil new. . t High. tsvm. Qona, "66 S 63 83 52 62 - j 00 I 93 95 38- f 8 37 1 10 ie II 120il2O 64 63 63 - .". '. 24 oo. :.,iv 1 s -t--e' 114 --t 8 8 26 22 . 23 18 ' ,16 17j ie-'a ' w-'V ; fH . ' y 13 14 IS 62 52 52 114 114 114 US 111 , 113 60 69 69 . . . 11 "34 32 38 48 48 48 '-3 j 3 ' t 8 6 6 42 42 42 7. ... 35 211 210 21A I -.A 31 I 0 8J . 9 IL ISSCKS ' 17 17 17 -, 0 -0 : 6 , 86 86 66 149 149 149 43 43 43 163 164' 166 161 161 161 115 113 114 OO 9 96 20 20 20 26 25 25 103. 103 193 315 - 80.V. 315 160 160 160 101 IOI 101 69 67 68 116 114 116 120 117 119 42 42 42 40 45 46 40 40 40 NEW INCORPORATIONS- Salem. Or., Dec 21. Capitalised at 3250. 000, the Wonder Reeorery company of Port land filed" article, of Incorporation with the state corporation department: .here Wednesday. The incorporators are Roy Barkhurst, Say Barkhurst and W. H. Sayre. . J. . Other corporations filing . article Wednes day were: . . -v" : Washington - Investment company, Portland. 35000; P. . Cookinghsm, C. B. Woodworth and C. B. Stephenson. Kotlli Maid , Manufacturing company. Port land. $5000; Joe Mats. F. Radinsky end Jacob Stern. i A. certificate filed by the Bend Garage com pany allows an increase in capitalisation from $10,000 to $23,000. SehSer baying City. Dec. - 21. 4Ar.rb.tjna in this ewrrlen he neea2W per bent than last year and the year before. ' In spite cf this,' there t a eSstinctly conservative note being . sounded tnkasin -circle, . This:" at do larjrely to th ituatjl "la ! tha gricnltiirl regions, . where ettsparitx between price - lor farm products and ether cnmxeodttlea and .lack of ear to ship gram have affected toe financial situation and, buying power ol the tanner. - It. ie estimated t by the . state authorities that over 36 per cent of the. 1922 wheat crop, or dl.Otttf.OwO bushels. atiU remains on Kansas farm, aa compared with 27.316. VO0 bushel a year ago. Despite Uus. Kaaaaa has ceded 11,S1.0 acre to winter wheat, only sUgbtly less than the record-breaking acre age ot a year ago. r BAXK COAST "- ' " - - - 1922 1921 --- dearings Monday . $ 6.503.853 $ 6.269.791 Balances Monday.. . 1.887.982 1.577.259 Clearings Tuesday. 5.000,782 4,812.771 Balance Tuesday, v 1.20O.8S1 ' . 910,071 Clearing Wednesday 6,880.618 4,123.999 Balancae Wednesday 1.414,068 900.949 Clearings Thursday 4.793.644 ' 6.188.216 Balance Thursday 1 863.657 1.09L.739 SeatUa- Banks Clearing Thursday , -. . BaJanoss Thursday .-. ' , Tneama Bank Thnrsday a transactions . . . nan Imaltes, atsuika Clearings Thursday .. ... ... $24.400,0.00 Oakland tianfes . Clearings Thursday ........... Le Bnaelea asanfca Clearuiga Tharsoay . ........ . . $18,373,509 .$5,384,671 073.571 .32.435.000 ..$2,190,000 w Tork Wool d Hide ''. . New York. Dec 21. (t K. 8. ) -Wool Market firm. Domestic fleece, XX Ohio, 48 ) 57e: do pulled, scoured basis. 78c $1.20; do Texas, scoured bams. $1.05 1. 85; territory stapie, acourea nasis, . fi.zoei.tv. xsiaea Market dull. 21 e; branded steers. Native steers. 19 61 18o bid. ... V Homey 4 Eienur New Tork, TJee.. 21ft. N. H. I Call money on the floor of the New Tork stock ex change today ruled at -4 44 per cent: high. 6 per cent; low! 4 per cent. Time money was steady. Rates were-4 5 per cent. The market for prime mercantile paper was steady. Call money in London today was 1 per cent. Sterling exchange waa steady, -with busi ness in bankers', bill at $4.64 for demand. LUMBER GAIIIS III WEEK ARE HEAVY . On hundred and forty-six muTs report ing to Wast Coast Lumbermen' association for- the week -ending December 16, manufactured 87. 02.278 feet of lumber: sold 99.115,678 feet, and shipped 97.149.165-feet. , Production for reporting mills waa 13 per. cent below . normal. . . New busineea -14 per cent above -produ-tion. ShipmenU wee 2 petv centTbeJow-new businrss. Thirty-eight , per cent of U new botinesa -taken during the week was for future water -delivery. This amounted to 37.653.678 feet. e4 winch 28.224,365 feet was for domes Ho cargo dell very, and 9.031.3 IS feet for over-, seaa- aliipnnent- Jiew business fur delivery by rail amounted to 2042 ears. - 1 Forty-tour per cent ot tle week's lumber shipments moved by water. - This amoantad to 42.969.136 feet, of which 32,084.34 6 feet moved coast wine and tntercoastal. and 10.8H4. : 810 feetj export. Rail -abipmenta amounted to 1806 -ear. ... i - - - -, , - - . , . t : I'nfilled domestic cargo order tots 157. 291.317 feet.,- Unfilled export- orders 70. -132.8H6 feet VnfiUcd raU ordem 01 08 ear. In fifty weeks production ha been 4.2 76. 749.6M9 feet: new business 4.040.493.288 feet; shipment 8.94$.0O7.687 feet. - - Strte Cleared for Rallwar ' KelBo, Wash,, Deo, Portions of Wash ington, Ijncolii, Maple, North and Flaher street in West - Kelso were vacated by the city .' of Kelso last night for the nee of the Long view, Portland t Northern. Railway company for right of way purpose for their railway. It will cross .West Kelso at an elevatwm ot about 12 feet above the level of the streets. A steel viaduct wilt be built across Mam street and trestle viaducts across Cedar and Grant streets. -: '-- - - - ; avi -v sayiaj ,. Utaksf OJcnr Bottrd f TrtaU STOCKS BONDS ' v : 63UlEICOnOre rUTATJB IJtABJSl VlU$jT$ . rJ. K Hiitton & Co. MEMBER AT.Ii PRIKCIPAA ; EICHAKG13 ' 6)oltelt Inqnlrto All ' - ir n! i-ri j . vLm',rmi7--- - NJmww . , ... . - '.- - fx'' r ' ' . V f. 9WnWgMeW4) JtBtaUatStRVCI 6nxkSYSTCMa . A Bond! A good sound bond is a gift which some member or members of your family will cherish' . always. It is a permanent ; invesmient whose regular dividends in tha years to come will be a real reminder ; of your thoughtfulness this Chribnastide. ; " And our Partial Payment Plan makes it easy for you tojerive a bond. Call at our Bond De partment .TODAY and let us explain the plan. Buy Bonds By Bits , v 1 face value down, 19 a month, 6 inter eat on deferred payments in some instances more than covered by tne bond's earnings. , Bonds Sltw and up. laMHLp & TELTOH Oldest In the Northwest ; Washington at Third iJ.f.Tjj.iJ.i.T.r.T.r.T.r.T.i.i.iJ.iJ.iJ.i.i.ij.i.i.i.i.ij.ij.i.i.ij.i.i.ij.ij.i.i.i.f.ij.ij.ij.i.i.ij -,04.' . The Safety piF A RBc6ipmencled Security t 47H 294 29 H 84 H 18 32 4 17 4a 1801, .!; -,e4- 70 H 184H 106 4 47t 21 24k 63 12 32 17V 136i, 151 II 72 26Ht 21 A recommendation ' means every thing if there is recognized respon. sibility back of it. When you give your personal recommendation you , always have definite knowledge on ' which to base your judgment. Place yourself in ' the position, of Blyth,- Witter & Co. What safo guards would precede the 'recom mendation you would give a secur ity? : What steps would you take to make certain that .this security met standards and principles upon which you would, base, your recommenda tion? - . t ... If you felt sincerely the responsi bility of your recommendation you ' i would obtain expert information on erery phase of the company's busi- ness. From expert accountants you would obtain facts from the com- v pany ' v books. - From r men long ex- . perienced in that particular line of j, business you would obtain a judg - ment of .the company's general con dition. From recognized appraisers ... . you would - obtain unquestionably . low and conservative property value . : to establish the equity back of the V security,'. The dependable - earnings ; . over a. period of years would influ- ence your judgment. ; After collecting all the information . and making certain of every require v ment of safety, then you. could say, "I recommend this security for safe . investment. v . . Investors who have purchased Blyth, ; , Witter Sc. Co. recommended securi-5 -C ties have the satisfaction of knowing V that their invested funds are safe. , They have relied ; on our recom-" -' mendation and the results have been ' satisfactory. ' 'v ' " " i Our - list of securities, from which : : you : can judge the type of 'invest- , ments we recommend, will be sent ; to you without obligation upon your " written request or call at our office. v .:" BiyT.-,. Wi-lrfilifGoi . V:"-.' GOVERN MEWT-MUNIO RAlrCOr, PC.Tl ON CON OS FOUirni AND STARK, POsTTLAflD BROADWAY 64CI - . SAN FRANCISCOLOS ANGELES NEW YORK CI1ICAG0EATTLE--P0RTLAND " M tt : f i li