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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (Feb. 10, 1920)
ID THE MORNING- OREGOXIAN, TUESDAY FEBRUARY 10, 1930 SHO E OF OIL Oil PACIFIC COAST Production 10,000,000 Bar rels Under Requirements. RAPID INCREASE IN USE Gasoline Bought in Mid Continent Field at Above, Parity With Selling Prices In West. Instructions bava been issued to all sgenta of the Standard OH company of California to take no contracts for the sale of fuel oil without referring to the home office in San Francisco. At the same time it has been decided that exportation of refined products, already materially curtailed, shall be kept at a minimum and be only such as to meet the company con tractual obligations, says a statement is sued by K. R. Klngstury president of the company. The condition of the petroleum Industry which has necessitated these actions is one which so closely and importantly touches the interests of the public, indus trially and otherwise, that a description f it will be useful in siring a thorough understanding of the situation which exists. In its simplest terms, it is that the crude oil production of California is not suffi cient to meet the demands. President Kingsbury's statement says: "California was called upon in 1919 to supply approximately 475,000,000 gallons of naphtha products. This quantity could not be obtained from the. production of crude oil in California and the shortage of over 20,000.000 gallons was Imported from the east. With the demand for- gasoline and heavier fuels in direct proportion to the number of Internal combustion engines, embracing automobiles, trucks, tractors, marine motors and pumping plants and the production of this class of equipment constantly increasing, the 1920 demand for naphtha products, it is estimated, will ex ceed the 1919 demand by at least 25 per cent. Indicating a total requirement of 600.000,000 gallons. tFrom the present sup ply of crutie oil, the total possible produc tion of naDhtha oroducts is but 4.VI.0O0.000 gallons, indicating a shortage in the prod ucts named to 150.000,000 gallons. "While heretofore gasoline has been pur chased In Bthe mid-continent field, such purchases must necessarily be made on a competitive basis with eastern buyers. The wholesale prices of gasoline In the mid- continent field today, at points of mini facture, are 18 to 19 cents per gallon. Add to this price 7 cents per gallon, the cost of bringing the product to the coast In tank cars, and this gasoline would sell at San Francisco at between 5 and 30 cents per gallon, as against the present price f 21 cents. "There are two simple factors, produc tion and consumption. Today the crude oil production of California is 25,000 bar rels dally leas than the requirements and the deficiency for 1920 at the present rate of production will exceed 10,000.000 bar rels. Since 1916 stocks have decreased 14,000,000 barrels which means that the public consumed that quantity over tb amount produced. Stocks of crude oil on hand today of 30.000.000 barrels are lower than at any time since 1910 and of this quantity. It is estimated only 14.000,000 barrels are available for the market. At least 10,000,000 barrels are required as a working capital, or, so to apeak, 'as mer chandise on the ehe,' and the remaining 6,000.000 barrels are in pipe lines and tank bottoms and entirely unavailable. "This company has been successful in titrHn- ft Amdnrlinii nf nniilR nil Tn 1918 the increase was 4.600,000 barrels over 1917. and in 1919 1,000,000 barrels over 1918, but even these considerable increases on the part of one company do not save the whole situation. In view or the short age existing, the company has Increased the prices it offers for refinable crude oil. Other purchasers of refinable crude oil have been paying large premiums over the prices offered by the Standard OH com pany. "The remedies are increased production and Importations, and to a lesser extent but quite as important, conservation and the elimination of wasto by careful and scientific handling of petrolenm and its products by the oil industry on the one hand and its scientific and careful use by the public on the other hand." versus 25,239,871 - bushels harvested last season, a decrease of 46.17 per cent. The unfavorable weather conditions will, it is feared, reduce the average yield per acre to 5.62 bushels, versus 9.62 buxhels last season. Australian wheat shipments last week were 1,784,000 bushels. ' . FLOLR I'KODltTION HOLDING EVKN Wheat Beceipts From Farms Larger In ftek Reported. The 30th weekly bulletin covering wheat and wheat flour movement throughout the United States for the week ending Janu ary 30, in comparison with figures for the same period a year ago, follows Bushels. Bushels. 1U20. 119. Wheat rxel p t from farms 6,421,000 8,371,000 v nai receipts from farms pre vious week ' Wheat receipts rrom farms June 27 to January 30 6K2.257.000 672.74S.000 Kh rr. K rrt IJt flour produced during week ... Flour produced previous week . . Flour produced June 27 to Jan uary 30 . 8.671,000 6.267,000 2,701,000 2,859,000 2,270,000 2,314.000 88.2S2.000 Bushels. 74.244.000 Bushels. Total stocks wheat all elevators and mills 911 IMSIWM U!C AM Aflfl loiai eiocKS wneac all elevators and mills previous week 217.14R.nnA 247.159 000 unange for week decrease 6,210,000 1,476,000 Exports of wheat and flour July 1 to January 30 amount to 85.892,000 bushels of wheat and 9,738,000 barrels of flour, making a total equal to 129.715,000 bush els of wheat compared with 114.633,000 bushels of wheat and 12,580,000 barrels of flour last year to January 30, 101S, mak ing a total equal to 171,241,000 bushels of wheat, Salt Prices Advanced. General advances were announced in salt prices yesterday. Baled salt moved up 2550c a bale and fine salt 4 a ton. Half-ground salt was advanced fl on 50s and 75 cents on 100s. DOLLAR DECLINE IN MU.LRCX PRICE No Trading In Wheat in Kortbwest) Corn Sharply Lower, Millrun prices were reduced $1 a "ton yesterday to $42.50 for carlots at mill. Stocks are accumulating with the Increase In green feed. The wheat market was lifeless locally and throughout the country. Minneapolis was 5 cents higher. There was but little Interest In coarse grains. Corn bids at the Merchants' Ex change were reduced $2 2.75. There were no offers for oats or barley. Weather conditions In the middle west, as wired from Chicago: "Northern Illinois, cloudy, cool, raining'; Western Illinois, cloudy, warmer; Central Illinois, cloudy, cool; Western Missouri, very foggy and damp; Eastern Kansas, cloudy, calm, cool; Ohio valley, clear, cool; Omaha district, cloudy, cool; Kentucky, part cloudy, warm er; Tennessee, cloudy, warmer; Minnesota, clear, cold; Canada, part cloudy, cold Forecast: Generally fair and colder to night and . Tuesday, except warmer ex- j treme west portion." Terminal receipts. In cars, were reported by the mechanu' Exchange as follows: Wheat. Barley.Flour.Oats.Hay rortlana. 3ion. . Tear ago A Season to date. 5X5.1 Year ago 6113 Tacoma. Sat.... 10 Year ago 1 Season to date. 4MB Year ago 458 Seattle Sat 19 Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: Clearings. Balances. Portland .$5,617,075 $1,099,205 Seattle 6,40,0O7 1.552.28$ Tacoma 632 515 170 K79 Spokane 2.517.03O 851.962 PORTLAND MARKET QUOTATIONS Grain, Flour, Feed, Etc. Merchants' Exchange, noon session: February. March. Bid. Bid. eastern oats and corn, bulk: Oats 38-lb. clipped $53.00 $55.00 Corn No. 3 yellow 53.00 55.00 WHEAT Government basis, $2.20 per bushel. FLOUR Family patents. $13.15; bakers' hard wheat. 113.75: Whole wheat $12.05 graham, $U.Kl; valley, $11.40; straights, $11 per narrei. MIL.L.FKUU Prices f. o. b. mill, city cartage $2 extra. Mill run, car lots or mixed cars, $43.50 per ton; rolled barley $73: rolled oats. $66.50; ground barley, $73 scratch feed, $80. CORN Whole. $17: cracked, $W per ton HAY Buying prices, f. o. b. Portland Alfalfa, $31.50; cheat, $20; clover, $26 oats and vetcn, $2t; valley timothy, $: Dairy ana Country Produce. BUTTER Cubes, extras, 58tj59e per lb.: nrlnts. parchment wrappers, box lots, 62c; cartons, 63c; half boxes. He more: less than half boxes, lc more; butterfat. No. 1 509 60c per pound at stations; Portlan delivery, ordinary grades, 62c; A grade. 4c. KGGS Jobbing prices to retailers: Ore (on ranch, candled, 45 46c; selects, 50c. CHEEtfrc THiamooK, i. o. n. TiuamooK Triplets, 32c; Young Americas. 33c; long' horns. 33c. Coos and Curry, f. o. Myrtle Point: Triplets, 31c; Young Amer icas, 32 Vic POULTRY Hens. 28S33c: springs, 28c ducks, 3540c; geese. 2025c: turkeys. live. 40c; dressed, choice, 52c. VEAL Fancy, 26c per pound. PORK Fancy. 20S21e per pound. STOCK DECLINE CHECKED',; PRICKS RALLY . wAeN MONEY MARKET TCRXS EASIER. Improvement In Foreign Exchange Situation Is Also Factory Tone of Bonds Irregular. NEW YORK, Feb. . Nervousness was the dominant note sounded by today's apathetic Btock market, prices recording progressive reactions after the firm open ing, but rallying -irregularly when money eased in the last hour. Market gossip and letters circulated by the brokers and commission houses over the week-end dwelt upon the uncertainties underlying the general financial situation and such opinions' as were vouchsafed ex pressed belief in further liquidation. Foreign exchange and local money con ditions were unmistakably better, the London rate retaining most of its recent recovery, while call money was freely of fered at 8 per cent after opening at 14 per cent. Some stocks .were carried under last week's lowest quotations, shippings dis playing conspicuous weakness as a result of selling Impelled by the belief that they are likely to suffer severely in any fur ther curtailment of foreign trade. Leath ers were among other heavy stocks. Sales amounted to 775,000 shares. The general bond market was hesitant, minor reactions predominating in invest ment Issues, the liberty group and inter nationals. Sales, par value, aggregated $13,850,000. Old United States coupon and regtetered 2s and 4s advanced !4 per cent on can. CLOSING STOCK QUOTATIONS. Closing Fruits and Vegetables. FRUITS Oranges. S4& 6: lemons. $6.2507.2.1 Mr boi: rraDetrult. $3.25 Dpr hnr hftnin,. ifiii1 ner noUnd: BP' pies, 60ci8'$2.75 per box; cranberries, $5 5.50 per box. $15 ner barrel. carrots. $1. SOW 1.75 per sack: celery. $9.50 v H.UB. i ahi.h.k cabbage. 6 ic per in. ; lettuce. $2.75 ft 3.50 per crate; beets. $3 50 per sack; cucumbers, $262.25 dox.: carrots, $1. Ml'a 1.75 per sack; celery, $0.50 10.50 per crate; horseradish, 15c per pound; gar lic, w per pound: turn ds 3.u per "i cauliflower. J1.733.2r. ner crate: toma toes. $5 per box; sprouts. 1717o per pound; parsnips. $3.50 per sack: arti chokes, $2 Der dozen: oeooers. 33c per pound; spinach, $2.750 4.25 per box; rnu onro, k? per pound. POTATOES ntwnii X4 1)14.50 oer SACk Yaklmas, $4.755.25; sweets, 7B.Sc per IWUDO. ONIONS Oregon, 55c per pound. Year ago . . .4654 17 ... 8 9 2 17 169 2771 397 1262 861 1713 586 2451 ... .... 2 ... .'. 2 "'l 68 143 641 25 .... 131 962 14 7$ 225 516 543 1009 52 975 494 213a MORE BCTTER SHIPPED TO SOUTH Eggs Weak With Little Outside Demand; Poultry Steady. The butter market was steady, with the best cubes held at 5SVi .-! cents. Fur ther shipments of fresh butter to Ban Francisco were announced. Eggs were Inclined to be weak, as there was little outside demand. The country buying price was 42 Vi cents de livered, and the same price was offered on the street, case count. Poultry and dressed meat receipts were BSMierate and quotations werennchanged Deertne In -Wheat Supply. Vtte American visible wheat supply com pares as follows: Bunela. Decrease. February . 1920 5H.234.OO0 2.125.000 February 111, 1919 12U.3il-J.ono ,3!l.HMl February 11, 1918.... 12.643,000 l,22fl.non Wbeuary 13, 117 47.8-01.000 8.13.0IW February 14. 1916 6fl.499.IKM) 619,000 The corn vislhl is 3.664,000 bushels, an Increase of 89,000 bushels: oats visible, 11.283.000, decrease 267,000 bushels; rye visible, 19,574,000 bushels, increase 371,000 bushels. Potato Trad Is Slow. The local potato market was very slow snd prices, while unchanged, were no more than steady! No shipments to the south were reported. ! roor Wheat Outlook In Australia. Melbourne advices say railway authori ties estimate the 1919-20 wheat yield In the state of Victoria at 13.579.134 bushels. Staple Groceries. Thecal jobbing nuntntinna: SUGAR Sack hta Cane, eranulated 15.90c per pound; beet, 11.27c; extra C, Ji.ouc; uolden C. 13 40c: Yellow D. u.duc cube. In barrels. 1675a NUTS Walnuts 3"39c: Brazil nuts. 30e; filberts, 35c; almonds, 353Sc: pea nuts. ISffloHc; chestnuts, 20c: pecans. 32c; hickory nuts 1516c; cocoanuts, $2 per dozen. SALT Half ground, loos. $17.75 per ton: 50s, $19.50 per ion; dairy, $25jc2S per ton. rl 1 r- tsiue Rose, 16c per pound. BEANS White. 8!4c; pink. 8c; lima, 17c per pound; bayous. 10c; Mexican red, oo per pound. COFFEE Roasted. In drums. 39451c. Provisions. Local fobbing quotations: HAMS All sixes. 34 37c: skinned. 27 T3oc; picnic 27028c: eottajro roll. B0c LARD Tierce basis, 30ftc; compound, 28?4c per pound. ' DRY SALT Short, clear backs. 2832c plates, 28c BAOON Fancy, 4150c; standard. 33 SAN FRANCISCO PRODI CE MARKET Prices Current on Vegetables, Fresh Fruits, 'Etc, at Bay City. SAN FRANCISCO, Feb. 9. Butter, ex tra grade. 63fec; prime firsts. 63c. -ggs rresn extras, 48c: firsts. 47e: extra pullets, 4H4c: undersized. 41Ue. Cheese Old-style California flats, fancy, 81c; firsts, 28'e. Poultry California hens, 3St?40c; strict ly young roosters, 87 39c; fryers, 41 43c: broilers, 40&43c; ducks. 3082c; belgian hares, 16918c; Jackrabblts, $:;3.50 per dosen; turkeys, dressed, 62 e 55c; live, 43 &450. Vegetables Eggplant, southern. TfflOc per pound; bell peppers, southern. 7-S124e; squash, large lug, cream squash, 75 4 85c; hubbard, cl.25Qrl.7t per sack; tomatoes, southern, $1$ 1.76 per crate; Florida to matoes, $7&8 per crate; potatoes. Rivers, I4.&O05 per cental: , sweet. 45Hc per pound; Oregon Burbajiks.$5G.25; Oregon American Wonders, $5.255.50; onions, yellow and white, $4.50 per cental on street;- Australian brown, $5$5.25 on the street; cucumbers, hothouse, $4 04.50 per box for No. 1; English, I2.75S3; garlic, 22 f-J5e per pound; beans, 10915c; celery, $798 per crate: artichokes. 75c$1.25; turnips. $1.5091.75: beets. $1.75Q2; ear rots, $1.251.50; cauliflower, S1.25W1.75 per dozen: lettuce, southern, 75c$1.25; peas, 12H915c; asparagus, 40c per lb.; spinach, crate, $2.25; green onions, $29 2.25 per box. . Fruit Oranges, navels, $405; lemons, $4.50)85.50;. grapefruit, $2.25(83.75 box; tangerines, $23 per half orange .box; bananas. $710; pineapples. $34 per aozen: pears, conking. $11.50 per lug; ditto Winter Nellls, $.'194; apples. Rhode Island Greenings. $1.753 for four-tier and $1.501.75 for 4'4 tier; Newtowns, $2.2502. SO; Oregon Spltzenberg, $2.50f!t 3.25; Baldwin. $2?r2.25; Oregon Newtown pippins, $2.5093; rhubarb, bay stock, $2.50 .1 per box: southern. $2(32.50 per bot. Receipts Flour. 80S2 quarters: wheat, 840 centals: barley. 7502 centals: oats. 9,127 centals: beans. 6143 sacks; com. 3000 centals: potatoes, 4047 sacks: onions. 400 sacks: hay. 271 tons; eggs, 63.390 dozen; oranges, 6500 boxes. Naval Stores. SAVANNAH. Ga.. Feb. 9. Turpentine dull. $1.96; sales, none: receipts. 57 barrels; shipments. 129 barrels; stork, 9606 harre's. Rosin, dull; sales, none; receipts. 561 barrels: shipments. 199 barrels: stock. 36.56S barrels. Quote: B. $17.90; D. $18.10 ei8.23: R. $18.10 18.25: T, $18.1518.30; G. H, $18.33; T. $IR.35MR.4.-.: K. $19.25; M, $19.75: N. $20; WG, $20.50; WW. $20.75. Rnlnth Linseed Market. DCLCTH, F;b. 9. Linseed, $1.90 g 5. SalH. Am Beet Sug.." 1,100 Am Can 6,200 49 Am Car A Fdy. 1.700 183V4 Am n et Li pit! . z.WHI 11 Am i.oco o.HUU Am Sm r Rfg. 2.800 Am Sug Rfg... 100 Am Sum Tob. 1,000 Am TiT 800 Am Z L 8.. 300 Anaconda Cop. 5.400 Atchison 1.500 AG&WISS.. 8.700 15.1 U Bald Loco ....47,100 112 U 1.7CM1 81 Beth Steel "B". 12. 400 91 B A 8 Con 200 "X-i V..HU1 r-eiroi ... i.mu Can Pacif . . . Cent Leather. dies & Ohio.. C M & St P.. Chi A N W... C R I A P... Chino Cop ... C F A I Corn Products. 2.200 Cruc -Steel 15,400 214 Cuba Cane Sug 2.800 46 Dist Sec Corp.. 2,000 59 4 Krle 2.300 12 Hon Elec 1.500 15614 Gen Motors ...27.400 267 4 i,i .or pia.... 2. ooo Gt Nor Ore ctfs 1.700 63 4 128 85 "4 97 1X 67 1,300 12114 900 3,000 300 4,400 300 700 . 300 3.4O0 7.700 2.700 6.400 400 2.600 High. Low. 83 . 82 48 131 108 90 62 "4 127 84V4 97 16 56 1?5 109 30 89 'i 23 82 120 814 60 74 Si 80 25 85 38 U. 80 209 U 45 58 12 153 . 258 74 'A 8.1 51 80 214 75 14 28 54 51 34 80 ij 2 33 39 81 73 86 S!i 85 21 78 15 28 bid. 82 49 133 110 92 62 127 85 97 16 57 81 150 112 30 91 23 82 121 82. 52 33 80 26 33 39 S0V4 212 46 59 12 l.irt 265 74 36 H.1 .13,100 178 300 4.100 2,700 700 1.200 III Cent Insp Cop I M M pfd... Int Nickel .. 1 nt Paper K C South .. Ken Cop Louis & Nash Mex Petrol.. Miami Cop . . Mid Steel ... Mis Pacif ... Nev Cop X T Cent N Y N H A H. 2.9iM Nor ft West . . . 400 North Pacif .. 2.400 Pan-Am Petrol. 10.100 Pennsylvania.. 3,700 Pitts & W Va.. 1.000 Pitts Coal 800 Ray Con Cop.. 1.200 Reading 4.000 Keo lr & Steel. 32. 000 Shat Ariz Coo. 500 Sin Oil & Rfg.. 34,600 South Pacif ...12.900 South Ry 3,900 Stude Corn ...41.100 Texas Co - 4,600 180 Tob Prod ...'.. 4.300 76 Union Pacif ... 8.600 118 Un Ret Stores. 6.200 76 U S Ind Ale... 4.400 93 U S Steel . 80,600 100 do ofd 2.800 111 Utah cop i.ouh West Union . . . 400 Westing Elec. 3.400 Willys-over .. B.xou Nat Lead 600 Ohio Cities Gas 4.9O0 Roy Dutch N Y. 6,200 100 BONDS. uodnoD op Anglo-Fr 5s . S9J sg uia t at r cv 6S. uodnos op Atch gen 4s.... 1)1 S no A R G con 4s. 61 uoanoo op NYC neb 6s. . Ji sj g QN P 4s 74 s op N P 3s 61 "S! AJOJOIAraC TIT 68... "0 06 06" -s71 m op Pa con 4s H-1.-6" PS op . S P cv 6s IOR'06" 'Si VZ op So Ry 6s .., 0,"1fl'"s 1st op U P 49 I8t'06 s PS op US Steel 5s. 0806 ' 11 op 88 96 QIT S fl Bld. ' 9 cows. 1017 I 6 cons. ' 783 39 cows.' 907 11 cows, 985 11 cows. 47 19 cows. . 852 9 cows. loOO 4 cows . 950 11 calves 154 lcalf.. 190 3 calves 123 2 calves 140 28 Calves 176 27 calves .175 29 calves 300 5 calves 208 18 calves 221 12 calves 150 20 calves 34! 10 calves 247 14 calves 165 lbull.. 1480 lbull.. 1320 lbull.. 1710 2 bulls. 1500 lbull.. 819 lbull.. 1115 lbull.. 1440 2 bulls. 1350 7 bulls. 1310 lbull.. 1150 lbull.. 1050 1 bull. . J310 7 mixed" 448 4 mixed 720 23 mixed 818 7 mixed 840 3 mixed 903 26 mixed 619 5 hogs.. 176 6.50120 cows. . 5.50f 2 cows. . 8.75122 cows. . 7.INH 5 cows. . 7.75;23 cows. . 9 0O 3 cows. . 9.001 3 cows.. 6.5UI 5 cows. . 154 HI.OO 2 cows. . 16 00 7 cows. . 952 ,1075 IKI4 874 858 926 1103 lt.".2 s:;o 1141 1222 W2 990 950 9.00 s.oo 8.25 6.00 - 7.00 9.00 7.75 10.25 7.00 9.00 10.50 8.50 5.00 7.00 12 f.0l 1 cow. 600 10.00 12.0O29 cows. 11.501 1 Cow. 17.00125 cows 12.001 4 cows.. 1350 900 7.50 6 cows. 7.75 2 cows. . 8.75i 2 cows. '. 7.00112 calves. 8.501 4 calves 7.501 6 calvns 7.50 2 calves 9.001 2 calves 1 7.50) 8 calves 8.001 1 calf... 7.50110 mixed. 7.50 53 mixed. 6.00 3 hogs. . 8.00 3 hogs.. 8.25 2 hogs.. 8.001 1 hog... 8.00,33 hogs. . 8.0OI 1 hog. .. ,8.75 6.50 8.50 fl! 00 1180 10.50 ll.".9 1210 970 94 hots.. 200 16.25iB3 hoES.. 13 hugs.. li 15.90111 hogs. . 14 hogs.. 167 16.50143 hogs. . TO hogs.. 220 15.75 2 hogs.. 9.1 hogs., 185 16!U ghoss.. 13 hogs.. 2!8 15.65 2 hogs.. 4 hogs.. 227 -15.75 lhog... 36 hogs. . 220 15. 7r, lhog... 00 bogs.. 194 16.30 2 hogs.. 11 hogs.. 207 14.30 llamb.. 4 hogs.. 247 15.8! ' 6 lambs. 52 hogs.. 217 lS.SS'flO lambs. Uhoira.. JH7 14.301 1 2 lambs. Livestock prices at the local yara touow: Cattle Price. Best steers ; l.. .$11.50ig 12.50 1150 10.50 1120 8.00 1110 8.50 196 16.00 1.10 17.00 1 66 1 7.00 200 15.00 295 11.00 213 15.00 220 15.00 629 8.00 723 7.50 393 14.00 344 14.00 210 16.75 270 14.00 217 16.00 450 14.00 212 16.00 218 16.00 1SS 16.00 203 16.10 240 16.00 145 15.75 470 14.00 230 16.00 70 14.00 373 14.00 110 13.00 83 15.00 73 16.50 12.00 Good to choice steers Medium to good steel's. ....... Fair to good steers Common to fair steers Choice cows and heifers Good to choice cow heifers.. Medium to good cows, heifers. Fair to nr.edium cows, heifers. Canners Bulls Prime lisht -calves Hoavy calvpfl Stockers and Xeeders.. ....... . Hoes Prime mixed Medium and mixed Rough heavy Pigs Sheep Eastern lsmbs Light valley lambs Heavy valley lambs Feeder lambs ...... Wethers Yearlings Ewes 11.0011.50 9.50 10.50 8 50(S 9 50 . 7.50(a) S.50 ' 9. 50 1 0.50 l 8.511 9.50 I 7.50 8.50 6.5ua 7.50 1 3.50 6.50 6.25 8.50 .. 15.00 17.00 . . 7.00W12.50 .. 8.0U 9.50 .. 15.7516.25 . . 15.25 15.75 .. 11.004815.25 . . 13.004yl5.O0 .. 17.00018.00 .. 15.00(B) 16.50 . . 14.0014.50 . . 12.O0SJ) 15.00 .. 33.00 ra 13.50 .. 3.5014.00 .. 10.00012.00 22 46 23 14 67 26 92 75 81 41 26 55 20 72 107 11 88 95 20 113 73 85 51 26 78 V4 44 171 22 45 22 14 66 25 91 74 79 40 25 55. 20 68 105 11 36 93 19 89 175 74 116 72 90 98 110 71 85 50 25 77 43 99 88." 88." 901.' 90W rOOl." Elliot.' 0618"' 06' 16" 62 83 21 77 15 28 100 174 46 23 14 67 23 9t 74. 81 41 26 55 20 70 107 11 37 TI4 20 91 )( 178 74 117 75 93 100 110 72 on - 60 26 78 44 100 93 D7 7 m. 90 100 . 83 . 86 Minnig Stocks at Boston. BOSTON, Feb. 9. Closing quotations: Allouez Aria Com . . . Calu & Ariz . . Calu A Hecla. Cop Range . . . Ka.H Butte . . . Franklin sle Royalle . . Lake Copper. . Mohawk 30 I North Butte . 12 Old Dora . 60 Qulncy .360 uperior 43 Sup c Boston. . 13 3 32 8 62 iShannon Utah Con . . Winona Wolverine . Greene Can 16 32 60 4 6 1 8 1 18 32 Money, Exchange, Etc. NEW YORK, Feb. 9. Mercantile paper, 6 B' . Sterling 60-day bills, $3.33; commercial i-day bills on banks. $3.33; commercial 60-day bills, $3.33; demand, S3.37 cables, $3.87. Francs, demand, 14.52: cables, 14.50. Belgian franca, demand. 4.07; - cabies, 14.0; tirtders( demand. 37.80; cables, st.vo; lire, demand, 18.52; cables, is.su. Marxs, demand, l.oi cables. 1.02. Drafts on London and several continental centers ruled higher in the late dealings. Sterling, 60-day bills, $3.34; commercial, 60-day bllls'on banks, $3.34; commer cial, 60-day bills, $3.34; demand, $3.37 cables, $3.38;. lire, demand, 18.42; cables. 18.40. Time loans, strong; 60 days, 90 days nd six months, 8. Call money, easy. High, 14; low, 8 ruling rate, 14; closing bid, 8; offered at ; last loan 8. Bar sliver, $1.83. Mexican dollars, 1.02 LONDON, Feb. 9. Bar sliver, 88 d per ounce. Money 4 ner cent. Discount rates Short bills, 5 05 13-16 per cent; three-months bills, 55 13-16 per cent. us nffljT yps ADVANCE OF QUARTER OJf TOP GRADE OFFERINGS . Best Ia nibs Also Bring Better Price Buyers Pay $13 for 'Grain -Fed 6teers. There was a good run of 101 loads at the stockyards yesterday and a very active market. Hogs were the firmest feature of the day's trading and moved up a quarter with tops at $16.25. There was also an advanoe in lambs from east of the mountains. The cattle market was gener ally steady throughout. Grain-fed steers from eastern Oregon sold at $13. Receipts, were 205 cattle, 24 calves, 1440 )gs and 1416 sheep. . The day's sales were as follows: Wgt. Price.l steers. 935. $ 8.75S5 hogs. . steers. 1021 10.00i91 hogs. . steers. 906 9.50i 4 hogs. . steers. 1 01 8.001 6 hogs. . steers. 1077 9.75 97 hogs. . steers. 8S6 9.75) 6 hogs., steers. 990 8.851113 hogs, steers. 778 9.501 1 lamb, steers. 1021 10.551236 lambs steers. 978 8.00174 lambs, steers. 987 W.00I59 lambs, steers. 1018 10.25111 lambs, steers. 970 9.0OI 9 lambs, steers. 768 5.2.V11 lambs, steers. 1074 11.25IS4 ewes. . steers. 906 10.7. iieo ewes. 990 9.00,21 ewes. . steers steers. 928 10.75135 ew steers. 121t 11.051 1 wether 27 steers. 870 V.7w 1 buck. . 24 steers. 940 10.So2steers. 40 steers. 1115 11. 5o; 3 steers. 27 steers. 1121 11.39128 steers: Wgt. Price. ,224 $16.25 185 16.30 312 14.25 195 15.00 122 15.25 158 15.75 ' 82 14.50 l'-'O 17.801 83 17.80 86 17.00 83 18.00 61 15.50 73 17.00 94 17.00 105 12.00 107 12.00 196 12.0(1 102 9.50 60 10.00 160 7.00 893 9.25 936 10.50 892 10.00 490 9.00 1017 11.50 Chicago Livestock Market.. CHICAGO. Feb. 9. Hogfi Receipts 38.- 000, mostly steady with Saturday's aver age. Bulk. $14.404115; top, u.z;; neavy, $14 25(6)14.85: 'medium. $14.4013; - light. $14.50 15.10 light light. $14.10rl4.70; heavy packing sows, smooth, $13.5014: packing "sows, rough, $1313.50; pigs, $13 14. Cattle Receipts z.vvv. wean. ijeer steers, medium and heavyweight, choice and prime, $1.17; medium and good, $11 fj)13; common, sumii; iignt weigni, gooa and choice, $1216; common and medium, $8.50$12; butcher cattle, heifers, $6.50 12.75; cows, 6.5011.50; canners and cut ters, $5.'456.50; veal calves, $16.50 W 18; feeder steers, $7.85 11.75; stocker steers, $7 10.50. Sheep Receipts 15,000, higher, Lambs, 83 pounls down, $1S21; culls and com mon. $15)&1K: ewes, medium, good and choice, $10,7513,75; culls and common, $6.a0's10.23. ' Omaha Livestock Ma-rKet. OMAHA, Feb. 9. (United States bureau Of markebs.) Hogs Receipts 4800, active. 23c hlgl-er. Top, $14.40: bulk. $14.10 14.35: heavy weight. $14.20)14.35; medium weight, $14.25914.40; light woigh,t, $14.15 14.25; IK-ht light, $13.75 14; heavy packing sows, smooth, $1414.10; packing sows, rough. $13.50014: pigs. $12.50 14.25. Cattle Receipts 5O00, generally strong. Beef sreers, medium and heavy weight, choice and prime, $13.7514.75; medium kr.d good. Sll13.75; common, $911; light weight, good and choice, $11.7o 14.25; common and medium, $8.50911.75; butcher catile, heifers, $6.7511.75; cows, $6.5011.25; canners and cutters. $5.252 '6.50; veal calves, light and handy weight, $14015.501 feeder steers. $7.75I4.25; stockers steers. $6.70011. Sheep Receipts 7000, 25o to 50c higher. Lambs, S5 pounds down, $18.5020; culls and common, $15 95)17.50; yearling wethers, $14.75 17.50; ewes, medium and choice. $7.5012.25; culls and common. $6010.50. . Kansas City Livestock Market. -KANSAS CITY, Mo Feb. 0. Sheep Re ceipts 11.000; steady. 25c higher. Lambs, $17.25020; culls and common, $1217; yearling wethers, $15.25)17.50; ewes. $10 12.75; culls and common, $4.50(5)9.85: breeding ewes, $8014.25; feeder lambs, $14.7517. Seattle Livestock Market. ' SEATTLE. Feb. 9. Hogs Receiots. 2671; easy. Prime. $16t 16.50;, medium to choice. $15 10; rougil heavies, $14014.50;. pits. I 2 gr I 2.U". Cattle Receipts 363. dull. Best steers. $12.2512.75: medium to choice, $100 ji.io; common to good. s,.o4f.tiio: cows and heifers, $10.50; common to good, $6.50 . -jo; buiis, nwn.'.'i: calves, $7015. Coffee Futures Lower, NEW YORK, Feb. 9. The market for coffee futures was lower today owing to reports or unsettled markets in Brazil and talk of lower cost and freight offerings. it was also reported that Santos 3s to 5s, old-crop government coffees, were being offered for re-sale at 21.50c American credits. The opening was 12 to 25 points lower, with active months selling at a net decline or 45 to 54 points during the after noon, when May touched 14c, compared with 14.60c, the high level of Saturday. That delivery closed at 14.06c with the general list showing a net loss of 48 to 62 points. March 13.95c: May, 14.06c; July, 14.30c: September 14.15c; October. 14.18c: December, 14.24c. Spot coffee neglected; Rio Ts, 14c: Santos 4s, 24 'a 25c. We own and offer, subject to prior sale: $17,000 Coos County, Oregon, School District No. 9 Refunding Bonds Dawed February 1, 1920. Due serially 192M940. Semi-annual interest (February and August 1st) FINANCIAL STATEMENT " Assessed valuation, 1918 . $4,720,322 Total bonded debt, including this issue . . . 77,800 Population, estimated, 60,00 Coos County, Oregon, School District No. 3 embraces 1800 acres of land, included in which is the city of Marshfield. This city is the natural outlet for the products of the inland agricultural, dairying and farming section and chief dis tributing point for same. These Bonds Constitute the Direct Obligation of the Entire District .' - .... - Income Tax Exempt Eligible to Secure State, County and School Deposits Legal Investment for Savings Banks in Oregon . Prices to Yield 5 " : umbermervsINrusf o. Bonds -Truss-Acceptances upirai surplus sooo.se Saf fr-rCISCO lumbarmans Bldo. Portlarxd, Oreqorv. SetvH SELLIXG CARRIES PRICES rOW3f OVER 4 CEXTS BUSHEL, Railroad Administration Order Cats Off All Eastern Outlet. Oats Also Decline. CHICAGO, Feb. . Drastic declines took placs in the corn market today, largely owing to notius that railroad cars unload. ed at grain elevators bere could not be used for shipments from Chicago to the east. The close was nervous. 3K4Hc net lower - with May X.2IS 1.25? ana July 1.22$1.22. Oats lost 1C and provisions L'Ttpguc. Notwithstanding that receipts or corn today were much smaller than had been looked for, the market was decidedly weak from the outset. General selling and no evidence of buying power formed the rule. Aside from difficulties of the fl nanclal situation, the dominating lnflu ence was the virtual cutting off of any eastern outlet for Chicago shippers of feed stuffs. Cars on eastern roads were wanted for wheat, and there were, orders that equipment from western roads must be re turned to the country for new supplies of corn. - Provisions reflected the weakness of grain. " . Leading futures ranged as follows: CORN. High. 1.S3?4 1.2SH 1.24 OATS. .68 H MESS PORK 34.50 . 34.50 S3.C0 Feb.. May. July. May. July. Open. .. $1.81 1.27 .. 1.22H . .74 .OT TjOW. $1,28 4 1.24 1.21 .73 't .66 Close. $1.2M 1.25 'i 1.22 .74 7 ',4 May. July. S3.7S 34. 50 mixed, $3S39 por ton: double compressed, $42: alfalfa, $35; straw, J 17 18; Puget sound, 933. Metal Market. . NEW TORK. Feb. 0. Copper, nominal. Electrolytic, ' spot and first Quarter, ltfc second Quarter. li(19Uc. Iron, steady.. ..No. 1 Northern, $46947; No. 2 Northern, J45ff; No. 2 Southern, $4344. Antimony, 11.50c. l Lead, nominal. Spot and March, 8.75c Did. a"ftru. Zinc, steady. East St. Louis delivery, spot 8.60c bid. 8.70c csked. NEW TORK. FVb. . The American Smelting A Refining company today ad vanced the price of lead from 8.00c to 8.70c a pound. New York Sngnr Market. NEW TORK, Feb. 9. Raw sugar, steady. Centrifugal, 12.7VC fine granulated, lo6 ltic. Cotton Market. NEW TORK, Feb. 9. Spot cotton. uJet. Mlflfltlng. H Sat fcWSt, xer&A IIUBlWlTIIJflJlIIlM May. July. May... July 21.07 18.07 18.62 Eastern Dairy Produce. NEW TORK, Feb. 9. Butter, steady: creamery higher than extras, 67',4(p6Sc; creamery extras, 67c; firsts4J2 66c. Eggs, firm; fresh gathered extra firsts. 5B(&t0c; firsts, 67 58c. Cheese, Irregular; state whole-milk slats held specials, 3182c; ditto, average run. 2930ftc; state whole-milk, twins, held,' specials, 80H31c. CHICAGO. Feb. . Butter, lower: creamery, 5059e. Eggs, lower; receipts, 8o2Z cases: firsts. 60c; ordinary firsts, 42&4c; at mark, cases included, 48g4nc. Poultry, alive, unchanged. Dried Fruit at New York. NEW TORK, Feb. 9. Evaporated ap ples, dull; western, 2023c; state, 2023o. Prunes, quiet; camornia, xvfgaic; ure eons. 162J',-c. . v Peachns, inactive, stanaara, -'inr-litc; choice, 21SW2-: fancy, ZiW-M. Hops, Etc, at New York. NEW TORK. Feb. . Hops, dull: state. medium to choice. 1919. 75 85c: 1918. 6065c; Pacific coast, Juiy, 0&s7c; ,1918, BuSXidc. Hides ftnu wool, uncnangea- not Quoted : No. 3 Jxed, $1.2H6Gl.il; No. 2 yellow, not quoted; .No. 3 yellow, ji.a:wi.sj. LARD. 21.40 21.40 20.9B 21.90 21.90 21.42 SHORT RIBS. 18.20 18.35 18.00 18.75 18.7o ' ia52 Cash prices were: Corn No. 2 mixed, mix ouo Oats No. 2 white, autrBl'AC; No. 3 white. 7148114c. nye No. 2. 1.38. Barlev f 1.268 1.32. Timothy seed $1 0.1109 14.50. , Clover seed $4o659. Pork Nominal, llard $18.24i20.17. Ribi $17.00W18. v Grain at San Francisco, SAN FRANCISCO, Fob . 9. Grain- Wheat, $2.20; oats, red feed, $3.30 3.3S barley, feed. 33.4jtf3.60: corn, uallfornl. yellow, $3.203.30; White Egyptian, $3.70 41-3.77 v.: Hay Wheat or wheat and oats, $27 031 ton; tame oats, $2932; wild oats. $23028; barley. $2328; alfalfa, $27032 stock, hay. $22025; barley straw, 50SOo per bale. Minneapolis Grain Market, MINNEAPOLIS, Feb. 9. Barley. $1,150 1.35; flax, $4.955. i' Seattle Feed and Hay. SEATTLE, Feb. 9. City delivery Feed Mill. 849 ner ton: scratch feed. $84: feed wheat, 187: ail grain chop, .a; oats, 17019 72-. BDrmitinff oats. 74: rolled oats. 172 whole corn. $72; cracked corn, $74; rolled barley. 178: cupped barley. 82. Hay Kastern Washington 1 1 m o t n y GRINNELL L -4 it WMtt Suits 26 steers. l'0 11.401 1 steer. 2H steers, lm 11.0OI26 stews 28 steers. 1026 11.40:27 steers. 1026 10.5(f 2.1 steers, iz-w i..ihvi sieers. W24 11. 00 12 steers. 1125 9.-50I33 steers. 904 11.25 6 Steers. 50 10.00iI2 steers. 1048 10 25 22 steers. 1110 11.50111 steers. 1140 11.50 26steers. I5 ' 10.5i lbull... 1340 7.50 Scows. 8.17 .ni 2 bulls. . 1330 7.50 Scows. 8"3 .no?irow... dso T.On 15 cows. 978 8.30121 cows. .' 975 10.00 When tie FinSknt IF yourtaiiiding bums youriuii' ness bums. Thatfs why fire insurance isn't sufficient protec tion. You can protect bom roar building and your business with Grinrvdl Automatic SprmJders. When the fire Btartt the water starts! Where city water pressure i adequate and the hazard is not too greatlrinneU installatkme can bow be made without a tank. This reduces the cost coosiderabh. GRINNELL COMTANY of The Pacific 1517 L. C Smrth Bu&Jsng Seattle WasbingMO Ask for our list of Canadian Municipal ' And Province B SI OS to yield 7 acom Fidoo nm Bamk Bib. Main 4 Freeman Smith a CAMP CO. IIIIHIMH Blessed Are Those Who Look Ahead r"pHE very first thing which should be looked forward to by a young couple just starting down the path of -life's sunbeam together is a HOME. It means comfort, happi ness, prosperity. -fr'fli) .'.v j-ni-ii,a.a 2 J si enable you to acquire a home by pro viding a way to save and by substantially rewarding you for vavingr. J"ou choose a food, reliable, safe Municipal Bond, earn ing from 5 to 7 per cent Interest: you py $10 down and $10 per month and while you are paying- toward that $100 Invest ment your money is drawing the aame In terest as the iond. Write or Call for our Descriptive Booklet - . mu im i COVDVMCNT MUNICIPAL J09 COBSORATOH r,FT BONDS iniainuinn!.uiaiu.iiuiii!unniiinsln 6.E.MILLE BONDS AND "CSV 7n j IMA,! It COMPANY 1 INVESTMENTS Diversified Investments INSURE STABILITY of INCOME Let us assist you in obtaining the desired protection for your funds. With Our ' GOVERNMENT MUNICIPAL CORPORATION BONDS Your correspondence is solicited. G.E.MILLER & COMPANY sr R0NDS CORPORATION W VaA 1 J telephone; anain 4-195 204 56 NcrthwestcrnBank SuUdin p 6RTLANO , OPE S ON 1 Exempt from all Itomlaloa l.oTrraniril Taistioa $198,000.00 City of Regina 6 GOLD BONDS Dun Marrh 1. IP2.T. Itraamlaatkni tlDOO A genera! obligation of the'rntlrn city. An un usually attractive Issue of boni. representing an investment security of unqucstiunuuie merit and safety. PRICE: TO YIELD 7 LIBERTY and VICTORY . BONDS If ytm mutt aell Vur Liberty er Vltry Rnnd, all to tie. If you rava bay mnrt I.ihertx or Ybrtvry bond. Imit fnm a. On borary f. ltft the loanf IWw York market price, wera a alit below. They are the governing- prices fr liberty and Irtory bond all ovr the world, and the hlglieni. We adverUe tlir-pe prt datlv in onlr thtt Tu may always know the New York market and Uie exaot value of Jour Liberty and Victory bondj: 1st 1st 2d lut M d 4 Victor ;K.n 4 4 44 4t 4 4m H 4 Market.. U.9 9f0 $. H1.31 V0 44 J:)3 44 U0 44 ..H0 j7 M Interest.. .53 .f 1 .94 .3 loo 1.71 .ftT .7 Total. .W7.4 $91. 5t S9I.M 191 M HL4 $t.80 lH 7 $9 M Whea buyiny deduct .t7c en a ."0 bond and J.AO on a f-1Hio bond. We j . sell at the New York market, plue the a rented IntreM. I Uurglir and Fireproof Kafe tepolt lloveii for KcQtlMIHMMj OTKS tMU ft P. Ma ON f ATI HP AY. MORRIS BROTHERS, Inc. Tbe Premier Municipal Bond Ilonw. Capital On Million Dollars. Morris BuildlliR, 309-:U Ktark PI.. Between itlh aod ttlh. Telephone Broadway 21iL Established over a quarter century. Wanted: Advice of Manufacturers and Wholesalers In our desire to render to manufacturersaiKl jobbers a service that may be of great value, we seek your advice on the course that a prudent merchant in your line of business should pursue in buyine and selling goods, when prices show a declining tendency. CO Hour should a merchant avoid the dancers trv volved in falling prices? (2) What poKcy should he follow in buying goods? (3) What policy should he employ in, telling goodsf (4) What should be his terms of sale to hia customers? (5) What should be his policy in collecting his accounts? (6) What should be his policy in borrowrlng money? ' . We desire to get the consensus of opinion of manu facturers and wholesalers as to the precautions which ought to be taken on a falling merchandise market, in order to avert a crisis or disaster. We are compiling a treatise that will show the views of business leaders of America on this vital subject. To all firms who con tribute to the symposium we will send this brochure free of cost. It will be off the press shortly. May we not have your views on the above? AMERICAN CREDIT INDEMNITY, CO. Of NEW YORK LM. TREAT, pmsident "ths comsany that tasuis tmi uulimitio oucy H. T. MACRILL, General Agent I'hone: Main 1179 Board of Trade Building Portland, Oregon ii in What Securities Will You Choose? BEFORE aelecting an investment, send for our February list. There you will find listed seventy care fully selected bonds, short term notes and preferred stocks. Ask for Offering Sheet OR-024 The National City Company Cotrespodcnt Offices in Over 50 Cilies Portland Yeon Building i Telephone Main 6072 Bonds Short Term Nolcs Preferred Stocks Arthur Berridge & Company Certified Public Accountant! and Auditor Income Tax Specialists and Advisers 619 Worcester Block Main 8621 DO you know that much of your Income Tax trouble coms from poor Accounting Systems and Records ? Let us prepare your Tax Reports and revise your Business System. CONSULTATION FREE About 75 1 r This yield can be obtained on the securities of the Consumers' Power . Company, operating in the most prosperous part of Southern -Michigan. E L Devereaux R(5mpany 87 Sixth Street Broadway 10 Ground Floor Wells-Farco Building FOURTEEN METHODS OF OPER ATING IN THE STOCK MARKET A book of rules anil methods us1 by nmf of ths blirt and m.ist surr-ssfiil "rtr" nd invs-tor.. Prlr. II .SI postpaid. Tu-ker Pub. C, M-V. 8 Nsw St., K. T. Cltjr. Thone Your Want Ads to THK OREG'ONIAN Main 7070 A G0l5