The Seattle Star Newspaper, July 6, 1922, Page 12

THE SEATTLE STAR Ship News | Tides in Seattle | THURSDAY WRIDAY « wt THURSDAY, JULY 6, 1922. Mexican Petroleum |GRAIN MARKET = _ Is Weak at Opening’ 'S UP AND 00 w $25,000,000 Humble Oil and Refining Company | TEN-YEAR 531% GOLD DEBENTURE BONDS and Departures | - T0 BE DATED JULY 15, To Mature July 15, 1982 hy ah d reey welling at 188, up dlp, and Call- matty in ed buying Central gained 1922 Interest Payable January 15 and July 15 Principal and Interest Payable in New York City N. Y. Stock Exchange Quotations Pumished ty Lege a ryan BLE Becond AvewHeattle Coupon bonds of the denominations of $1,000, $500 and $100 registered | bonds of the denominations of $10,000, $5,000 and $1,000 coupon bonds and registered bonds and the several denominations of each, interchangeable. atone | P18 LIEN BE tet 1 Li LIS LEY LISS LIS LEO LATS Redeemable at the option of the company, as a whole, but not in part, upon sixty days’ notice, at 105% and accrued interest on any interest date up to and including July 15, 1925, or at 10244% and accrued interest on any interest date thereafter prior to maturity. ch —_——_—_ ‘ ott « Guaranty Trust Co. of New York, Trustee a inunielinhdeihielihense i , ’ * 7, We are advised by Walter C. Teagle, Esq., president of Standard Oil Co. (New Jersey) that Standard Oil Co. (New Jersey) owns, as a permanent investment, a majority of the capital stock of Humble Oil & Refining Co. Particulars regarding this issue are summarized as follows froma letter of W. S. Farish, Esq., vice president of Humble Oil & Refining Co.: 14.07 1130 re rd Moorings—Btr City | “4 Munich te Nitus, #tr Weat *% | Japanese 4s 12% | Japanese firet digs 78 | Japanese second 4a United Kingdom &§ ts. United Kingdom §%a, United Kingdom 60, 1.45 11.30 N. Y. Sugar and Coffee rier haw tateen tt: grenv-| Wee eect TON S1OKS IB: Ne te Mtr Robert Luvckenbach Humble Ol & Refining Company engages in the production, transportation, refining and datribution of petroleum and its products, The company’s production of crude otf in 1921 waa in excess of 16,900,000 bar- rele, This production was derived from a relatively small part of the company’s acreage in Texas, Okla- homa, Arkansas and Louisiana. At the present time the developed and producing acreage is about 13,006 aores, more than 400,000 acres bring as yet undeveloped. fir Ranier. | corings—tte Ketent UO. & Burn ret Net earnings in 1981, applicable to interest charges before making provision for deprectation and depletion, amounted to $10.240,164, and net earnings for the first six months of 1988 indicate income for the current vear, similarly computed, in excess of $16,000,000 applicable to interest charges of $1475,000 on this issue of bonds. San Francisco Produce ‘Thursday's Quotations prime firets,! wood, at _ [Puget to te) Pat The company has invested more than $74,700,000 in plant and equipment. Its fotal assets amount to more than 212400000. Neither the company nor ita subsidiary pipeline company has any mortoage debt, and in the tndenture under which these bonds are to be issued, the company will covenant not to mortgage any of ita property hereafter without securing these bonds equally and ratably with any other indebtedness secured by such mortgage. ag SE FI 44% Fourth 44s * y, Be Wel Mette it Victory 480, firste, Ihe It dhs | erenrn Uw & The company has outstanding $25,000,000 capital stock, of which the holdings by the officers of the com- pany and by Standard Oil Company (New Jersey) together constitute approzimately 80%. The stock is cur- rently quoted at $240 per share, indicating an equity of $60,000,000 junior to these bonds. ‘The proceeds of these bonds will be applied to the retirement of the $25,000,000 of 7% notes of the com- pany, which notes will be called for redemption on September 15, 1922. Seattle | + coy ESR 129.95 | 893,470.28 | Application for the sting of these bonds on the New York stock exchange will be made by the company in due course. , THE ABOVE BONDS ARE OFFERED FOR SUBSCRIPTION SUBJECT TO ISSUE AS PLANNED AT 100% AND INTEREST TO YIELD 51% 6,162,413.06 | Total transactions .. 3,219,000.60 | Great Northern Railway | is opened — inte we Subscription books will be opened at the office of J. P. Morgan & Co., at 10 o'clock A. M., Thursday, July 6, 1922. The right is reserved to reject any and all applications and also in any case to award a smaller amount than applied for. The sum due on allotments will be payable at the office of J. P. Morgan & Co., in New York funds, when called for on or about July 20, 1922, against delivery of trust receipts or temporary bonds, exchangeable for definite bonds when pre- pared, Humble Oil & Refining Co. two-year 7% gold notes, due March 15, 1923, with the two unmatured coupons attached, will be accepted in payment at 10014% and accrued interest to date of payment on allotments, A number of the Great Northern Railway Company’s employes having left its service, it is necessary ‘ to hire men to fill their places. Employment is offered to: MACHINISTS, BOIL- ERMAKERS, BLACKSMITHS, EET - METAL ~~ WORKERS, ELECTRICAL WORKERS, CAR RE- PAIR MEN, at wages and working conditions pre- scribed by the United States Labor Board effective July ist, 1922. J. P. MORGAN & CO. New York, July 6, 1922. Budscriptions having been received to an amount in excess of the adove issue, this advertisement appears as @ matter of record only Rates for journey men and leading men range from 63 to 82 cents per hour, and for helpers 47 cents per hour, with time and one-half after eight hours and for Sundays and holidays. Applicants who are not me- tet 7 0 Sie PRODUCTS chanics will be given employment and will be trained in : neu teee Feld Whslesale Dealers all branches of the trades. Eggs Preah ranch, white shell. | aise £1 veut Fancy, Nght ....00+ Med, amt ... Fancy, heavy, 190 . Med, heawr . 6c cee ~. POULTRY AND MEATS Piant—Piortda, per M™. | Gartle—Per Th Lettere--Local head, per erate t | Ontone—Ca). new red, M. : | Cat, yeltow | © Auatratian, . * 00@ FLOUR AND SUGAR 23 Wholesale (21 | Ploer—Famiiy Bet Seniority and pension rights of new employes will date from the time of entering service. Former em- ployes may return to work, if their places have not al- ready been filled, and so many of the former employes “as return to work promptly. will be allowed a record of continuous service for seniority and pension rights. Prices Pat. 49-™. ske..t ton ‘Ward. tripiete ‘Tiiamook triplets x ake, POULTRY AND MEATS ‘ane, per wt. ... Beot, per owt. .. Prices Feld by, Wholesale Dealers HAY, GRAIN “ Ducks—Live, old. per Mm 0) Live, young, per ™ Men and Wi 18th Year ear, Concerning the matter of entering the employ of the Railway Company to take the place of men now on :trike, Chairman Hooper of the United States Railroad Labor Board has publicly announced: Medium to choles . Common to good Best cows and heifers ... ™M to cholee in te good t. young, per M . in Mares—2\4 The. and up. Dressed * Tarkeye— Fancy 4 Fancy, T-10 | Lave. ye 2 Live, old, pert. wee Heavy Roosters—Old, Uve, per Me soe Bulls , | Meno ®) Choice. tent . D. 12-46 he . A apatn Ment 2e0@rts > 1 im to choice “In the past a man who took up the work of another who was on strike against wages and working condi- tions was termed a ‘scab’ or ‘strike-breaker,’ terms to which much opprobrium was attached.’ In the present situation, created by the strike of railroad shop craft workers, men who assume the work of the strikers can- not be justly reproached with such epithets. This is not a customary strike in which the employer tries to im- pose upon the employe unjust wages and unreasonable working rules. In this case the conflict is not between the employer and the oppressed employes. The people of this country, through an act of congress, signed by President Wilson, established a tribunal to decide such disputes over wages and working conditions which were submitted to it in a proper manner. It is the de- cision by this tribunal against which the shopcrafts are striking. REGARDLESS OF ANY QUESTION OF THE RIGHT OF MEN TO STRIKE, THE MEN WHO TAKE THE STRIKERS’ PLACES ARE MERELY: ACCEPTING THE WAGES AND WORKING CONDI- TIONS PRESCRIBED BY A GOVERNMENT TRI- BUNAL AND ARE PERFORMING A PUBLIC SER- VICE. THEY ARE NOT ACCEPTING THE WAGES AND WORKING CONDITIONS WHICH AN EM- PLOYER IS TRYING TO IMPOSE. FOR THIS REA- SON, PUBLIC SENTIMENT AND FULL GOVERN- 200@ 2.60 | Es 11.60@11.86 | ime Went MILWAUKEE RAILWAY EMPLOYES NOTICE Chicago, Milwaukee & St. Paul Railway Company Office of the President Chicago, July 4th, 1922. UNION PACIFIC}, Prices Pald Wholesale Dealers Apricota—Cal., per 00@2.26 P . > ¢ SYSTEM. ? OREGON-WASHINGTON RAILROAD AND NAVIGATION CO. GURREERGREEEERER ‘ TO FORMER AD. per box on t. Imp. ‘stand’ All Employes: The United States Railroad Labor Board has authorized cancellation of our contracts with labor organizations now on strike. GrapereCal. Grape Frait—Fis., per box .... EMPLOYES | All men who have left the service of this com- pany in protest against the decision of the U. S. Railroad Board must return to duty, or register All striking employes reporting for work on or before July 10, 1922, will retain their for- mer rank and seniority. After that date, sen- jority of those who are accepted for service will date from the time their applications are accepted. The existing wages and working rules as es- Plume—Cal., per crate” Watermelons—Per ih NUTS Prices Paid Wholesale Dea! 2.60@ 2.00 | 03% MENTAL POWER WILL PROTECT THE MEN WHO KEMAIN IN THEIR POSITIONS, AND MEN WHO MAY COME IN.” Apply at nearest shop or at the division superintendent's office Almonde—1. X. 1. bb soee N tbo th Por tb. | Walnute—No. 1, per Mm, 2, per Ms. “Virginia, Key LA Chinese, per % ‘ Pecane—Per th. . . DAIRY PRODUCTS Prices Paid to Shippers Battertat— A grade, Beattic delivery .... tablished will be continued. I hope all of our former employes will take advantage of this opportunity to secure their old positions and seniority. : H. E. BYRAM, President. for their regular shifts not later than 8 o’clock p. m., Saturday, July 8, 1922, in order to regain their pension and seniority rights, J. P. O'BRIEN, General Manager. -