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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Jan. 24, 1913)
THE MORNING- OKEGONIAN, FRIDAY. JANUARY 24, 1913. 9 BUYERS WILL WAIT Wool Market Will Open When Sheep Are Shorn. NO CONTRACTING LIKELY Kirst Pricos Will Probably Be Tliwe Tbat Prevailed When Season Be pan Ijit Year Course or Mar ket Depends on Congress. There will b no contraetinc for wool on the here back in Oregon this year, ow Inz to the uncertain tariff situation. This Is the opinion of Charles H. Orefn. the irell hnon wool buyer, who has recently re turned from an extended trip through the Eastern states. "It ts the general Impression among the dealers." Mr. fireen said, tbat there will not be as much activity this year as last, but T expect fine well-grown wool to be In good demand. All the dealers expect to clan up on last year's business before the new wool comes In. In my opinion wool prices will open where they opened last year, not where they closed. . Early buying will probably be along the same lines as last year, but I do not think there will be any contract ing. I look for close and conservative buy ing throughout the season." E. J. Burke, of Pendleton, representing H. C. Judd Root, of Hartford. Conn., does not think there will be any radical reduc tion In the tariff this year. "Nevertheless." he said, "no one Is going to fly In the face of the future and speculate In wool with the certainty of some tariff revision. .ast Spring the buyers came into the mar ket with the possibility of a reduction In the tariff and made their bids accordingly. This year it la more certain the tariff will be reduced and they are going to operate In a cautious, conservative- way. "What will protect the woolgrower. how ever. In spite of any tariff change. Is the scarcity of wool throughout the world. As for the manufacturer! they are not fearing foreign competition. The world is more prosperous than It was In 1693. The foreign mills are running full on European business, and cannot afford to Install new machinery and make goods for this country." HEAVY B11TXG OF CALIFORNIA HOPS Growers' Slocks In That State Now Only 9.100 Bales Orders From London. Recent heavy buying of hops In California, largely of the lower grades, has reduced stocks In growers' hands In that state to n.100 bales, according to wires received yes terday. For very poor Fonomas the buyers paid 12 and 13 cents, while 18 cents was bid and 50 cents asked for good quality. The Oregon market was very flnlt, but quiet. One deal Involving a carload, was put through at 19 cents to 1 the grower. There were London orders In the Salem market. London cables came through firm. There has been a revival of interest In the 1913 crop. Three hundred bales were bought in I'olk County on contract at 16 cents, but the buyer's orders have since been reduced to 15 cents. Dun's Review says of hops In the East and general market conditions: "There was little or no change in the local hop market from the quiet conditions that have ruled for some time past, busi ness being restricted by the lack of offer ings. Similar conditions prevail at up-state points, where supplies of high-grade stock have been about cleaned up and such as now remain in the hands of dealers are mostly of Inferior quality. On the Pacific Coast notable activity has prevailed, a brisk demand causing holders to advance prices to such a high level that buyers refuse to operate. At the same time anything offered at a concession finds a ready taker and this confirms holders In their attitude. Available stocks are very moderate and this fact, together with the Inslsten demand, is reflected In the prices at which, contracts for next season's crop are being made." COVXTBT WHEAT MARKETS HOLD FIRM Full 1 rices Bid by Buyers With Few Sales Effected. The wheat market In the Northwest has lost none of its strength, especially at coun try points, where full prices are still being bid by the buyers. The amount of business put through yesterday was light from all accounts received. Former prices were quoted by local dealers. Conditions In other grain lines were not changed. Local receipts in cars were reported by the Merchants Exchange as follows: Wheat Barley Flour Oats Hay Monday 5 3 5 Tuesday ...... 63 6 2 3 3 neannusj .. ...... . . . Thursday 17 1 1 Year no ' c...on lo date.l"lL'.1 ir.57 1:71 1041 1331 Year ago 3-l 1S11 1014 1963 BETTER LOCAL DEMAND FOR APPLES With Large Stocks Available Prices Do Not Improve. There was a better Inquiry for apples on the local market yesterday, but stocks are o large that prices show little change. Fancy four-tier well-colored apples are do ing a shade better, but buyers will not stand for higher quotatlona on other grades. The movement in oranges Is still limited. The market Inspectors went through a shipment of oranges and lemons at the steamer dock yesterday and passed the fruit. A car of celery was received and a full assortment of mixed vegetables Is due this morning. ood Demand for Poultry. Poultry of all kinds was In small supply and firm yesterday. Good chickens, large and small, sold at 14 HO Id cents. Meats wore steady. There was no Improvement In the de mand for eggs and stocks tend to accumu late. Butter and cheese were steady and un changed. Bank Clearings. Bank clearings of the Northwestern cities vesterday were as follows: Clearings. Bahtnces. rortlsnd $1.7o:.7.m Jl'17.944 Settle l..-.S.4t3 lf.t.llj Ts.-onia 41.V i:iT 17.'."-T Spokane f-S4.S14 83.512 pOBTLaAXD MARKETS. .rata. Floor. Feed. Etc WHEAT Track prices: Club. S6c: blue tm, PiSP&Hc; 40-fold. 67c; red Russian. Mc; valley, 7 rtOL'R Patent. M.Tt per b4rret: straights. $4.10; exports. -,?5r 1 55: Val ley. $.;; graham. $4-60; whole wheat. 4. S0. BARLET-Fwd, f 24 $ S4..tO per ton: brew ing, n-imina:; rolled. $2.JM2.H per ton. COKK Whole. J7; cracked. M per too. HAT Timothy, choice. $16ffl7; mixed. Eastern Oregon timothy. $12 41&: it tno vetch. 112: alfalfa, 11.30; clovor. 10: straw. $17. IflLLSTUFFS Bran. 22 per ton; short. 2 per ton; middling; $30 per ton. OATti No. 1 whtle. 26.5J27.0O per ton. Vegetable and Fruit. FRRSH FRCITS Apple. 5(V"ff$;.00 per box; pr. Jl-flOa pr box; grupes. Maia gas. S P-P burr!. POTATOES Jobbing price: Durban ks. rotc per hundred; meet potatoes. SVi. per pound. TROPICA! FRUITS Oranges: Narsla g.2504: Florida. $4; Japanese, ILL! per l-und.o: California grapefruit. $2.75 $3.t.; Florida grapefruit, $4.25: lemons, $7 OS jr box; pineapples. 6c per pound: pome granates, $2 per box: persimmons. $1.72 pr box: targerne, $2.23 per box. VEGETABLES Artichoke. $1.30 per J ox n ; cab ba a-. 1 c pr pou nd : caul ifl o wer. 2 7" per crate; celery. $o.50 pr rrate; rucumwn, 7Cc4& $- per dox.; vgsp'.ant. 10c yuund; head lettuce. $2.JO per crate; pep- 10a per pound; radishes. 35c doxen; sprouts. 10c: tomatoes, Knv- w t KAfia nee Bound. BACK VEGETABLES Turnips. TSe per sack: carrots. 73c per sack; beets, 75o per sack; parsnips. 75c per saclt ONIONd Oregon. II per sack. Dalrv and Country Produce. Krj;s Fresh locals, candled, S-.'Sc per dozen. CHEE?E Oregon triplets. Ho per poun .....1. fi . mamrv ttlltl.r. fU t. 3'ttc per pound; prints. 3sisv9c Pr pound. ... , POULTRY Hens. lsfilSe: broilers. H ft 15c: turkeys, live. Ltlc; dressed, choice, 2c; docks. la14c; geese. Uc PORK Fancy. 1'i H'l-c per pound. VEAL Fancy. 14 14 tec per pound. Staple Groceries. SALMON Columbia River, one - pound tails. SJ.2.i per dozen; hall-pouna i An. iBr. ? 4K- Alaska nlnk. one-pound talis, S5c; sllversldes. one-pound tans, si.zu. unvt v rvniKM 7 "r. 2 75 cer ease. NUTS Walnuts. ISc per pound; Braill ...... t i - iihpfl uai5c: almonds. ISc; peanuts. s'6ttc; cocoauuts, &yc1.00 per dozen; cbestnuts. lie per pouuu. ory nuts, 6O10c; pecans, 17c; pine. 174 20c BEANS Small white. S.0e; large wr 43c: Lima, evic; pink. 4.70c; ilex.. &c: bavou. 4.95c SUGAR Fruit and berry. 13.45; Hono!t-. plantation, $0.40: beet. SS.25; extra C. 4.i.. ,..-.. K.n.ai. TO- ..iK Harrels. S.I.eO. SALT Granulated. 114 per ton; half ground lOus. 10 per ton; 60s. 10.75 per ton; dairy $12.50 per ton. RICE No. 1 Japan, 55He; cheaper grades. 4c; Southern head, avo-c. DRIED FRUITS Apples, 10c per pound; apricots, 12 14c; peaches. 11: prunes, ttaiiai.a s .liver, ise. flss. whlto and black. Vil?7c- currants, 9ic: raisins, loose Muscatel, 647i,c; bleached. Thompson. 11V4C; unbleached Bultanas. Sfcc: seeded, 7H84e; dates. Persian, 7Vko per pound: fard. $1.65 per box. FIGS Twelve 10-ounce, S5c: 60 6-ounoe, 1.S5; 70 4-ounce. 12.23; 30 10-ounee. 12.25; loose. 50-pound boxes. is7c: Smyrna, boxes, 11.1048L25; canfllca. lessxee. Provision. HAMS All elxes. 18919c; picnic 13c; skinned. ISttc: boiled, 2Tc BACON Fancy, 272Sc; choice, 200 230. LARD In tierces, choice, 14 c; com pound. 94c DRY SALT MEATS Regular short clears. lSViSISc; short clear backs. 12 to 18 lbs.. 13S4tlJC; short clear backs, 18 to 25 los 13 & 1 jc ; exports, 14c; plates. lOJJllo. BARRELED BEEF Extra mess beef, 114 ; mess beet. $13; extra plate beef. 117. oU; plats beef. $17.50; rolled boneless beef, $30. BARRELED PORK Best pig pork. fZJ; brisket pickled pork. 123. COFFEE Roasted. In drums, .24000 per pound. Hops. Wool and Bide. HnPfilfl15 rroD. nrlme and choice. 184 2oc per pound; 1913 contracts, lu&lOc per pouna. ' MOHAIR Choice. S2o per pound. PELTS Dry. 13614c; butcher, J101'i short wooL 710c. WOOL Eastern Oregon Z4 ISc per pound, according to shrinkage; Valley. 31M C2JVsc per pound. HIDES Salted hides, 12c per pound; salted calf, 18c; salted kip. 13014c: green hides. 11c; dry hides. 22Q23C; dry calf. No. 1. 25c; No. 2, 20o; salted bulls. Sc. CASCAI1A Per pound. 4tt6tfcc; car leu. 4 esc. Unseed Oil and Turpentine. LINSEED OIL. Raw, barrels, 50c; boiled, barrels. 52c; raw, cases, 33c; boiled, cases. 87c OIL MEAL Carloads, $37.50 per ton; less than carloads. $10 per ton. TURPENTINE Barrels. 54Vie: eases. 57c. GASOLINE Naphtha, In Iron barrels 18c. In cases 23c; motor gasoline. In Iron barrels 17c in cases 24c; engine distillate. In iron barrels 8Vc. In cares 13HC SHEEP VALUES LIFTED BEST Pit ICES PAID TUIS YEAR FOIt WETHEKS AXD LAMBS. Top Hogs Are Advanced 15 Cents to $7.75 Cattle Trade Is Slow and Market Is Firm. Thprn was a sharn uplift In siieep price at the North Portland yard yesterday, and also a gain In hog values, in eacn case me result of a lighter supply. Trading In the cattle division was on a small scale, but values wera maintained at a firm level. A small load of steers was sold at $7.75 and choice cows were taken at $7. A load of good bulls brought $5.50. Fifteen cents was added to the top price on the best hogs over the rates of the early part of the wek. Only a carload brought this price, $7.75, the bulk of sales being at $7.65 and $7.70, but the transac tions showed a steadier market than has prevailed for a week. Heavy hogs sold from J. 5.0 to $7.25. The sheep market continues to advance without Interruption. A bunch of choice wethers found a buyer at $6.50. which is the best price realised on this class of sheep this year. Lambs sold at a range of $7 to $7.75. Receipts were 176 cattle. 1 calf. 645 bogs and 2175 sheep. Shippers were: T. J. WedeL Aberdeen. Idaho. 1 car of hogs; J. W. Hansen, Twin Falls. 1 car of hogs: D. L. Cox, Eaton, Idaho. 3 cars of cattle and sheep; H. R. Peacock. Oak ley, Idaho. 2 cars of hogs ; Peacock fc Sharkey, Oakley and Nampa, 2 cars of cattle; W. L. Turner, Nampa, 1 car of hogs; F. E. Miller. Union Junction, 1 car of hogs; J. E. Comstock, Union Junction, 1 car of hogs; James Dodd. Dillon, Mont.. 3 cars of ca tt le ; M. J. Se vf er, 2 cars of sheep; K. N. Stanfleld, Stanfield. 4 cars of siieep; E. G. Adams. Pilot Rock, 1 car of sheep aud s. . Stearns, rerreoonne, i car of cattle. The day's sales were as follows: Weight. Price. 120 lambs SO $7.7;. 6! wethers &t 6.50 49 Iambi f.i 7.3."i 2:.l lambs 6fi 7.00 18 steers 970 7.75 12 cows 10"0 7.00 1 cow ..1130 7.00 1 cow 900 tt.75 1 calf lfrt 9 00 17 bulls 1X72 5.50 104 hotrs 168 7.70 3 hogs 236 6.75 3 hogs - 350 7.25 7 'J hosts 217 7.75 43 hogs 2l"tf 7.75 36 nogs 1 7.75 2 hogs 210 6.65 1 ho? 3S0 6.65 110 hoS 16S 7.65 1 hog 350 6.65 9$ hogs 11 7.6 10 hogs 3-5 6.S0 67 hos 166 7.50 IS hogs 244 7.65 The range of prices at the yards was as follows: Choice steer $7.80$8.00 Goud steers 7.00 0 7.30 Medium steer 6.50tf 7.00 Choice eo .&0 7.00 Good cows 6,wt)jj $.30 Medium cow 5.50 'tf $.00 I Choice calves 8.000 S.uu Good heavy calves -S0 & 7-50 Bulls $.0W 6.09 T.iarht - .".ill? 7.- Heay 6.0vf 7.00 i?heep Yearling wethers 5.00 6.60 Etl 4.QUV Lambs .00fc 7.75 Omalist livestock Market. SOUTH OMAHA. Neb.. Jan. 23. Cattle Receipts 4000, market slow to 10c lower. Native ste-rs, $!. 1 8.60; cows and helfera $4.00 7.tH: Western steers. io-TrOr S.00; Texas ethers. $4.756.35; cows and heifers, $3..V$ 6.5; calves. $5.758.20. Hnics Receipts 16.000, market weak, cloned strong. Heavy. $7.25sir 7.35; light, $7.Hf 7.30; pigs, $5,50475; bulk of salea $7.15(i 7.30. Sheep Receipts 850. market 10 to 15e lower. Yearlings. $7.?0tiS.15; wethera $5.75T5.00; lambs, $S.0O,)8.75. SAN FRANCISCO PRODUCE MARKET Prices Quoted at the Bar City for Vege tables, Fruit. Etc SAX FRANCISCO. Jan. 23. The follow ing produce prices were current her today: Fruit Apples, ch olee, 60c ; common. 40c ; Mexican limes. $76 S: California lemons, choice. $7 ; common, $3..: navel oranges, 11.2501: pineapples. $2$3.S0. ;heee Young America, 16 ISc Butter Fancy creamery. 36c Kegs Store. fancy ranch, 30c. Hav Wheat. $2425; wheat and oats. $21.MC?23. alfalfa, $12-50 a 15; barley, $1S e Potatoes Oregon Burbanks. S5c$l 10; Saltna Burbanks. $19 1-S5; sweets, $1.S5 (J 2 0t. Vegetables Cucumber. $1. IT 1.25; green peas, ir.fi Sxt; string beana nominal: to matoes. 00?7ftc; eggplant. 10O12Vsc; onions, 43Wc Receipts Flour, S344 quarters: wheal, rentals; barley. lt5 centals: oats, 200 centals; potatoes, 13 sacks; hay. 1VB tons. LIST IS UNSETTLED Pressure Against Steel Weak ens Other Stocks. FOREIGN NEWS IS FACTOR Harrimuns Depressed by Intimntions of Obstacle in "Way or Carrying Out IMssolntlon Order Late Kally Erases Tart of loss. XEW YORK. Jan. 23. Weakness -of Steel was the conspicuous feature of today's market. Pressure was directed steadily against this stock, and its loss of more than two points was perhaps the principal fac tor in the unsettlement of ' the whole list. The selling converged on Steel.' ' Reading and the Harriman stock and standard In vestment issues and specialties sold down 'with the sDeculatlve leaders. A spirited rally late In the day lifted prices consmeraoiy above the low point. The sharp upturn just before the close yesterday, following announcement of Tur key's acceptance of the peace proposals, aroused hopes of bull traders that the up ward movement would receive further Im petus today, but the course of the market Indicated that tne announcement nas Deen discontinued. Resignation of the Turkish Cabinet In conseauence of the action made known late in the session was a further unsettling Influence. Pressure against Steel was associated with the revelations made in the Government's, dissolution suit, particularly the admission of, a former President concerning an inter national rail pool. Harriman .hares were depressed by inti mations of serious obstacles In the way of carrying out the dissolution order. Weak ness of the general market seemed to radiate from these issues, the technical position of the market having been weakened by ex tensive short covering on the previous two days. Offerings of SX3.000.000 convertible 4'4 per cent U Paul bonds caused a break in both the stocks and bonds. The stock broke 1 and the outstanding 4Hs two points. Bonds were irregular with a lower trend. Distillers' 5s made up the recent loss. Total sales, par value, 12. 786,000. United States bonds wore unchanged on call. CLOSING STOCK QUOTATIONS. Reported by J C. Wilson & Co., Lewis building, Portland. Closing Sales. High. I.ow. Bid. Amal Copper .. S0,M Vl 7414 Am Beet Sugar. 3t1 87 4 37 37 American Can .. 4S.;oo y3l L'S1.. 32"4 do preferred.. S,.VK 113H Am Car & Fdy. MO S3 ."3 Am Cotton Oil.. 1 ,"( 51 4 Am Smel & Ref 4.70O 13 i-a do preferred.. '. 105 American Sugar 10t llttls 116ii 115 do preferred.. - 115 Am Tel & Tel.. 1,3(H 133 13SH 13314 Am Tobacco pf. l0 2JV5 2S-'i 21-8 Anaconda tW 3V 87 . 38 At! Coast llnc. ISIiHi l-8' lTJhi AT & Santa Fe. k"0 lt'.r" 104 104 do preferred.. 300 loa lo) 102 Bait Ohio .. 2,(H) 10!4 106 106 Brook R Tran.. 3.400 814 fO'i Canadian Pac . 6,1"J 24s 244 215S C A O 700 7S 1 77 1 1 Is C & G W Z SIH 31Vi 31 C Jtr X- A' 3 ' C, M & St Paul. S.600 114i 112V4 112H Central Leather 000 :g 2s 2S Central 01 a J. 353 Chlno 9.6O0 44 43' 4.11s Col Fuel & Iron 1.5"0 35 33 i4 34 do preferred.. 100 150 150 140 Colo Southern - 31 Consol Gas 4'0 13S 137 138 D L & V 300 4311 435 43S D & K G 20 21 21 21 lllstlllers' Secur 0O 1S1 18 1 Krle 80 31 31 31 General Electric 4'" 142 142 144 4 at North Ore .. 400 40 3 SH-i Gt North pf ... 3.1W 12M4 127 12e Illinois Central. j-i J-i Interboro-Met .. l.WH) 17 1 1 'i 1 1 do preferred.. 2.5W til ' 80 Inter Harvester 600 108 IOT W7 K C Southern... 2'M 20 26 ,-; Lehigh valley.. i- "i iY.iiJ Louis A Nash.. 4UO 13 4 1SS 3-t. Mexican Central 4oU 24 24 li'n 11. b r i S E 11 "J Mo. Kan Tex r' Mo Pacific 1.600 41 41 41 National Lead.. 400 50 4 ,40 Nat Biscuit do Drererreo.. ri.. N y Central... SS0O 107 107 10; N 1 . Ont &. we ,,Xff Norfolk & West (iOO 112 112 112 Northern Pac. 2.000 119- 118 H Pacific .Mail "Vs Pacltio T & T "J do preferred Pennsylvania ... 800 122 122 121 Peoples uai . - i . Reading 51.10O 163 13 14 Republic S & I 50O 24 24 24 T.lnnil Co 1 .0.0u 22 22 22 Southern Pao .. 7.20C 106 103 105 Southern Ry ... l.'-"" ,r'J .ii Texas Oil 10 110 H H Union Pacific .. 30,100 .160 13S 13 do preferred.. 500 8 00 United KUs S F. 100 . 3.1 .;3 3i U S Steel ..... 98..VW 64 12 64 do preferred.. 700 10H lo H'? Utah Copper ... 2.600 36 t5 5o Wabash i:;,- A Western Union.. 100 1 '1 7. Westing Elec .. 300 741s 74 i4 Wis Central '."; Total sales for the day. 374.100 shares. BONDS. Reported by Overbeck & Cooke Co., Board of Trade bids.. Portland. Amer Tel & Tel conv 4s 106 110 American Tobacco 4s ,5,. American Tobscco 6s 1S-.'? ai" Atchison general 4s Atchison conv 4s 104 lv-' Atrlilson adi 4s stamped !!?.. Atchison conv 5s '. 104 104 Atlantic Coast Line com ...... At Coast Line "L & N coll" 4s. 90 Baltimore & Ohio 3s 1 ' Dolttmnr Kr flHlO 41 .......... . "131 Brooklyn Kapia i raiisn 90 r-S.nlse A Ohio 4s 1M C B & Q .Ten mtg ,4s 93 C B & Q joint 4s 'j C B & Q Ills 4s tf. r TUanl-I il. W.Ti 96 iisvi Chicago & East Ills 4s 7i i Chicago R 1 & P ref 4s Si SS Chlcato R I P Co! trust 4s. .. 63 1.4 Colorado & Southern first 4s... 01 1 Denver & Rio Grande 4s S7 Sb Delaware & Hudson conv 4s Ji i it Erie first cons P L 4s S; M. Int Met -!s ! Japanese 4s J J? Japanese first. 4s. 0 o Japanese second 48...... 8 e.' Iulsviue & r.ajsiiwi, um - Mo Kan & Tex J Stu. New York Central 3s J J"' Northern Pacific 3s hi J ,-iron Short Line 4s 91 2 Oregon Ry & Nav 4 94 rena Ry 4s of 194S 101 101 Philippine Railway 4 sn Rea.llng general 4s 9 9 Republic Of Cuba 3s 101 102 Somhern pacific first ref 4s... 93 .. Southern Pacific col 4s M 91 Southern Railway 4s '7 St I. & S F ref 4s " Union Pacific first 4s 9S P9 Union Pacific conv 4s : i Union Pacific ref 4s.... ) 96 United States Steel S os 101 11 ITnited States 2s registered 101 0 Unite,! States 2s coupon 101 l"I United Railway S F 4s 66 6 United Katiway m u s. Wabash first 4s Western Union 4s..... Westlnghouse conv 5s... Western Pacific 3s Wisconsin Central 4s... West Shore 4s 74 .. 62 63 .. 93 96 .. 93 U 94 .. 86 87 .. 90 93 .. 9S 93 Stock, at Boeton. . BOSTON. Jan. 23. Closing quotations: Allouea 39'Miami Copper... 24 Amalg Copper.. 94 Mohawk M ' I L Sin... 29 INevada Con .... 1SH trlior.a Com .. 3'North Butte 81 A c C S M. 3'North Lake 2 Cal t Ar'onaT. 67 lOld Dominion... 48 cl it Heel..:. .493 lOsceol. 96 C?ntfnnlal 16 Quincy 73 Cop Ran Con Co 4S shannon 12 E ulte cop M. 13.Superlor ........ 32 Franklin ....... ISup Bo. Min.. ;. ;lroux Con 3 Tamarack .. 32 Grail by Con ... 69 U S S R M... 41 S Tcananea. 8; do preferred... 4 t Rovalle (Cop) 2S Utah Con 10 KrV Us . -' 21 Utah Copper Co. 53 Lake Copper.... 20'Wlnona 3 La Salle Copper 4'Wolverln 6. Money, Exchange, Etc. NEW YORK. Jan. 23. Money on call, steadv 2i3 per cent; ruling rate. 2; closing bid. 2: ofTered st S. t Time loans, weaker; 60 days. S percent; New York Central L s "s New York City 4s .'f? ,"1 New York City 4s of 1057.... 1 o 10 Norfolk & Western 4s.... MS OS Norfolk & Western conv 4s 111 1W N Y On'. & W 4s...... 2 4 n 6- and Safety We arc offering two particularly attrac tive investment securities of unquestioned merit, yielding the interest rates stated above. These securities are well adapted to the requirements . of small investors, being iu convenient denominations of $100 $500 $1000 We will be pleased to furnish descriptive circulars containing detailed information upon request. ' MORRIS BROTHERS Railway Exchange Building Portland 80 days. 3 61 per cent; six months, 44Vi Prfme mercantile paper, tamper cent. Sterling exchange strong, with actual busi ness in bankers' bills at J4.B375 for 60-daJ bills and at 14.8773 for demand. Commercial bills, 4.S3. . Bar silver, 62c. Mexican dollars. 4c. Government bonds, steady; railroad bonds, irregular. LONDON. Jan. 28. Bar silver, steady. lo'loa per ouiicv, uimiw, .- - - . . rale of discount for short bills, 4 11-16 per cent; do, three months' bills, 4 per cent SAN FRANCISCO, Jan. 23. Sterling on London Sixty days. 4.S3; do, sigllt, S4.88. Sliver bars, ezsc. Mexican dollars, nominal. Drafts, sight .0.1, telegraph .06. Condition of the Treasury. WASHINGTON, Jan. 23. The condition of th. i-nireri states Treasury at the beginning of business today was: Working balance bi..h,a' t! l.-UL ihlllonln Treaaurv 31.844.2&7 Total Of general fund 136.000.246 Receipts yesterday f'l?T'S,A Disbursements - - IJ;'1'':'V . . . i-ani ia Si 4ftl .f20 as X no tieijuii. mi .m-... .. . . against a deficit of 27.050.O71 last year. The figures tor ratmn u.... deficit exclude Panama Canal and public debt transactions GASH WHEAT IS SHOWN FETCHES DECLTXE IV ST- PATHY AT CHICAGO. Reported Drouth in India Respon sible for Steady Cables From Liv erpool Corn Is Down. . nr it Whuitt. corn and oats LH1I.AUV, . " - " - r declined on tne uii ' Wheat experienced a moment of firmness a.. T ..hla. hnM(l DD early on oioauy ... . . reported drouth in India, but thereafter ruled under yesteraay in b.vi.."j " cash market. The speculative "a.ie also lacked two support oi cor.i . , , i .i (-.1 anm.whiLt lately. Ar- wnicu i - mm ... - - gentlna was offering freely for export. Spot markets tnrougnoui iub wu.... portea uuu o. uenerai rtnuoi iciw, .v ... , tne local w.u ...... . - -- - . . at m.a n lur May. The spot market was oui. ana line, although one concern reported 100,000 bushels soiu ior cauv.,,- Provisions were auu anu mo nui.iii..- were very narrow The leading ruture. ranged a. louows. WHEAT. Open. High. Low. Close. May .93 I .93 . Julv 90 .I""-. Ml - Sept. 88 .88 .88 -88 CORN. May 52 'J juiv ...... .5 .jv14 .'rk lepl .84 ..-.4 .53 .53 OATS. fa :::::: l :p f : Sept 4 .34 .00.. .JJ MESS PORK. Tan 18 52 Ma,: ::::::i8.s5 is.s.-. is.so is.si LARD. Tan- ..10.12 10.12 10.07 10.07 May ::::::io.i5 10.13 10.12 10.15 SHORT RIBS. Jan -.W.A iY May lo.l'i n.i-i Cash prices were: v- . Corn No. 2 yellow. 4960c; No. 3. 4S&49C; de. white. 5051c; No. 3 yellow. 4S49c; No. 4. 464Sc; do. white. 49 frt0c; do. yellow, 4ti48!4c. Rve No. 2. 464c Barley 50 c 73c. Timothy 34.15. Clover H2420. Pork Mess, $18.50 18.6: . Lard 10.10. ,,-,, Short rtos 3.oj.-.,7:- Clearances of wheat and flour were 1,- 036.000 busneis; primary icctih.. 1"5 000 bushels, against 596.000 bushels last " .L T.t.-.A ...inta for tomorrow: Wheat. 65 cars; corn. 470 cars; oats, ISO cars; bogs, 28,000 neaa. MinraealKtllB Orain Market.' MINNEAPOLIS. Jan. 23. Close: wheat Mav. S7 July. S8eSc Cash No. 1 hard. 87 NO.-1 Northern, S. 6S6c: No. 2 Northern, 3 6 84 c; No. 2 hard Mon tana. 86c; No. 3 wheat, 8182c. Corn No. 3 yellow, 42i&4c Oats No. 3 white, 3Iife31c. Rye No. 2. 57 59c. Bran $19.50. Flax 1.30. Barley 46 g 60c. meet Sound Grain Markets. TACOMA. Wash.. Jan. 23. Wheat Blue .t7m. 95cf fortyfold. SSc: club. sc: red Russian. 87c. Yesterday's car receipts Wheat, 7; corn, oats and hay, each 1. SEATTLE. Wash.. Jan. 23. Wheat Blue stem. 93c: fortyfold. 80c; club. 86c; fife. 66c- red Russian, 84c. Yesterdaj s car re- it-..... com. 2: oats, 3; rye, J. flour. 3: barley, 2; hay. 2. Grain. In San Francisco. SAN FRANCISCO. Jan. 23. Spot quota tions: Walla Walla il.5S91.o3X: red Russian. $148 9 1.51 ; Turkey red. fl.62 1.32 1.35; brewing barley 1.40 1.42 ; white oats, jt.ii.;i.i: V..-" mlddlinga $314332: horts. $i).50fe26. Call board sales: WheatNo trading. Bar ey uecenwjci, " 7 . ' , asked; May. L30 bid, tl.31 asked. Knropean Grain Market.. Ln'ERPOOL, Jan. 23. Wheat Spot firm. Futures, steady. March, 7s 5d; May, is 2d; July. 7s 2d. iriih country market., dull; French country markets, firm. London Wool Sales. t nvnnv Jan. 23. There were 13.033 i..inrerri at the wool auction sales to- dav There was brisk buying by Americans and' the home trade, and fine crosabreds hardened 5 per cent over the November average. Scoured merinos were eagerly taken at nigner Naval Stores. y . . .... . it .. Tan t3 TnrnnnMna MVAAn- - "- - ' " : Firm; 4lc to 41c; sales. 103 barrels; re h.rr.U: shlnments. 108 barrels: - - - - stock. 22.350 barrels. Hosin Firm; aaiea, wv; "wi1", ww. 6 shipments. 1300; stock, 123.300. Quote: A B. $4.95 to 5.3; C D, B.40 to I5.8u; f, $3.65 to 5.75; F. $5.75 to 5.S0; d. 5.85: H, $5.80 to 5.90; I. 5.90 to 6K, 6.80 to $6.70; M N, $7.15; WO, $7.20; WW. $7.80. Metal Marketo. NEW YORK. Jan. 23. Copper Firm; standard spot and January, 15.62c bid; February to May. 15.62S' 16.12c; electrolytic, 16.50c; lake, 16.50tfil6.76c; casting, lb 16riii' i Weak; spot. 5O50.25c; January, 49 85 K0.25c: February. 49.50 4.75c; March. 49. 30 5 49. 60c. Lead Steady; 4.245?4.3Bc. Spelter Weak: 77.15c. .... Antimony Quiet; Cookson'e, .io10c. Iron Unsettled, unchanged. Copper arrivals. 100 tons; exports this month. 16,707 tons. London copper, weak; spot, 70 10s 9d; futures, f70 15s. Local exchant; sales of tin, five tons; London tin, weak; spot, 228 5s; futures. 225 London lead 17 2s 6d. London spelter, 26 2. 6d. Iron Cleveland warrants, 66s. 6d in Lon don. Coffee and Sugar. NEW YORK. Jan. 23. Coffee Futures opened barely steady at a decline of 5 to i points, under liquidation. Prices rallied on trade buvlng and short covering, with the close firm, net 1 point higher to S points lower Sales, 106,250. January. 18.04c; February 18.08c: March. 13.20c; April, 13 28c; May, 18.47c: June. 13.54c; July, 13 63c- August, 13.6Sc; September, IS.iSc: October. 13:72c:, November, 13.69c; Decem- bes'po'duil. Rio No. 7, 13c. Santo. No. . 15c Mild, quiet. Cordova, 1firal8c. Sugar Raw. nominal. Muscovado, 89 test 2 98c: centritugal. 96 test. 3.48c; mo lasses. 89 jest, 2.73c. Refined, steady. New York Cotton Market. NEW YORK. Jan. 23. Cotton Spot closed quiet. Middling uplands, 12.85c; do, Kulf 13.10c Sales. 1700 bales. B Futures closed steady. . 14 to 21 points lower. January, 12.15c: February. 12.05c; March. 12.07c: April. 11.88c; May, 1190c; June 11.74c; July' 11.70c: August, 11.68c; September. 11.50c; October, 11.23c; Decem ber. 11.26c. NEW ORLEANS, Jan. 23. Spot cotton steady. 1 l-16c off; middling, 12c. Sales. 1385 bales. Wool at St. Louis. ST. LOUIS, Jan. 23. Wool, steady. Ter ritory and Western mediums, 212oc; fine mediums, lSC20c; fine. 13l7c. Dried Fruit at New York. NEW YORK, Jan. 23. Evaporated apples, dull; prunes, steady; apricots and peaches and 'raisins, quiet. Duluth, Unseed Market. DULUTH. Jan. 23. Closing: Linseed. $1.29; January. $1.29 bid; May, $1.2 Hop. at New York. NEW YORK, Jan. 23. Hops Steady. LABORERS TO BE GUARDED Proposed Ivaw to Regulate Discharg ing and Faying Employes. STL-EM, Or., Jan. 23. (Special.) State Labor Commissioner E. O. Hoff announces that his department is fram ing a bill to regulate labor conditions in respect to laying off of employes. As the Oregon statutes now stand the employers must pay their hands in full before they are paid off, but no penaity is provided for violation of this provision. Mr. Hoffs bill will copy the Massachusetts act in this respect and provide that the' employe's regular wages will run until such a time as he shall be paid in full. Bitulithic is friendly to horses and autos The Canadian Bank of Commerce HEAD OFFICE, Toronto, Canada. Established 1867. Sir Edmund Walker, President A general banking business transacted. Interest paid on time deposits. POETLAND BRANCH, Corner Second and Stark SU. F. C. MALPAS, Manager. SUCCESS The magnitude of that success depends largely upon the bank selected. The ready access to the officers of this bank, assuring advice and counsel to business men, is a feature not to be overlooked. UNITED STATES NATIONAL BANK Snmlus and Carjital. $2,000,000 Third and Oak Satisfied Customers The steady growth of this bank is significant in dorsement of the sentiment "A satisfied customer is the best indorsement." lumbermens National Bans CORNER FIFTH AND STARK Resources LADD &TILTON BANK Established 1859. Capital Stock $1,000,000.00 Surplus and Undivided Profits 1,000,000.00 Commercial and Savings Accounts Letters of credit, drafts and travelers' checks issued, availabla in all parts of the -world. OFFICERS. W. M. Ladf , PreBlde nt. Kohert S. Howard. Asst. Cashier. Edward Cookingham, Vlce-Pres. J. VV . Ladd, Asst. Cashinr. W H Dunckley, Cashier. Walter AL Cook, Asst. Cashier. First National Bank Capital $1,500,000 Surplus 900,000 Oldest National Bank West of the Rocky Mountains The Bank of Personal Service The account of every customer of this bank has the attention of a "perfectly organized force of competent men and the personal supervision of its officers. Let us serve you. Four per cent interest paid on savings accounts. Merchants National Bank Under Government Supervision roundef1. 1886 Washington and Fourth Streets J.C.WILSON&CO. STOCKS BONDS. GRAIN AXD COTTON MSMBEHJ MEW YORK STOCK KXCHANGB. NEW YORK COTTON EXCHANGE CHICAGO BOARD OF T RADIO THE STOCK AND BOND EXHANGB, SAN FRANCISCO. PORTLAND OFFICE: Lewis Building, 269 Oak Street Phones Marshall 4120, A 4187. TRAVELERS' CUIDB. jl jr.. a. EXPRESS STEAMERS FOB Sbu Franclico and Lo Angeles WITHOUT CHANGE S. S. Rose City sails 4 P. M. janoarr 26. THE SAN FRANCISCO PORTLAND B. S. CO., Ticket Office 13t Third Street ' Phone Main 2805. A 25S9. San Francisco, Los Angeles and San Diego Direct S. S. Eoanoke and S. S. Elder. Sail Every Wednesday Alternately at S P. M. NORTH PACIFIC S. S. CO. 122 A Third St. Phones Main 1314, A 1814 COOS BAY LINE STEAMER BREAKWATER Balls from Atnuworth Dock, Portland, at 8 A. M. December 3, and thereafter every Tuesdav evening at a x. sa. reiu cefved dally except Tuesdays vj? to & P. M. Tuesdays up to 3 P. M. Paseenger far: First-class, (10; second class, $7, incluc &K berth and meals. Ticket office at A l worth Dock. The Portland Coos Bay lAne. L. IL Keating. Agent. NEW YORK -PORTLAND REGULAR FKEIGHT SERVICE. Low Rates. Schedule Time. AMERICAN-HAWAIIAN S. S. CO, SIS Railway Entnn Bids. Part land. Or. Main asTS. A LOS ANGELES ANU SAJJ DIEGO STEAMSHIPS VALE AND HARVAJID. Railroad or any steamer to San Francisco, the Expo City. Largest, fastest and ths ON'LT strictly first-class passenger ships on the Coast. Average speed 26 miles per hoar: cost 2.00O.0O0 each. SAX FRANX1SCO, PORTLAND L. A. S. S. CO., Main 23. Frank Bollam. Ag-ent. A 459A 124 Third Street. San Francisco $ 6.00 and $10.00 Los Angeles $11.00 and $18.00 San Diego .' ..$13.00 and $20.00 including berth, meals and baggage. Ship sails Saturday 2:50 P. M.. Jan. 25. San Francisco. Portland Sc. L. A. S. S. Co. Main 26." FRANK BOLLAM. Act. A 4S96. 121 Third Street. in business is at tained by few men without the aid of some bank. 6 Millions TRAVELERS OPIPg. ta the World 110.000 Atlantic Service London, Paris, Hamburg tPMn.vlmil. .Tan. SO. 1 P. M. Pres. Lincoln Feb. 6, 9 A. Jl. fPatrlcia Feb. 19, 9 A. M. tHamburg direct, 2d cauin oniy. MEDITERRANEAN Uadelra, Gibraltar. Algiers, Naplea, Oenom. 8. S. HAMBCRG. .Feb. 32, 10 A. M. S. S. CIN'NATI. March 11, 10 A. M. tJ.l,uvv VUUS.J AN IDEAL CRUISE AROUND THE WORLD INLAND EXCVBSIONS and SIDE TRIPS. 13 IATS IN JAPAN IS DAYS IN INDL1 FROM SAN FRANCISCO FEBRUARY 6, 1913. f.S. S. CLEVELAND tons? 110 DAYS S650 and dp. I Including all necessary expenses I i anA ahtrf .nllirav. hotel. I shore excursions, carriages, guides, fees also railway fares lo and from your home, with the privilege of returning iun a. s. imperator. .... ., . n ihm U'Mrir Indies I and Panama Canal. Write for booklet, stating cruise. HAMBURG-AMERICAN LINE 160 Powell st.. San FrancUco. CM ; O-W BAN. Co., Nor Pacific, D R. G R- Burlington Rout, Teat Nonnern ' 1 " is. euliin, o r in-' omt v k- iana, u8"- Copyright 1912. Th Oric-nt rapactty for usinc our mother tonjjut with erranjre twist of unconscious humor Is well known, but few exunui r equal to this delicious sign on a Japane OakerB Sliop: A. t atriiiura, jsiggcst in Tokio." Oriental Kcview. tun J Largest 8. S. Co f OVKR400 JEr ships a i