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About The Sunday Oregonian. (Portland, Ore.) 1881-current | View Entire Issue (Sept. 26, 1920)
TIIE SUNDAY OREGOIAN, PORTLAND, SEPTE3IBER 26, 1920 19 GRAIN TRADE HALTED BY PRICE DECLINES Exaected Rally in Market Fails to Materialize. COUNTRY BUSINESS SLOW Valley Wheat Sells on local Board at 3.29 for DeliTery Xext Month Oats Arc Lower. The Brain market yesterday was In ven worse shape than Friday, though price declines were not so extensive. Traders expected the Chicago market to rally somewhat from the jolt it received the day before, but they were disappointed, as wheat dropped about 3 to 7 cents and teed grains also worked lower. Under the circumstances no one was Inclined to enter upon business active. There were a few deals in the interior and in the coast markets, but most of the operators preferred to wait until Mon day and see where the market would ettle. ' Five thousand bushels of October soft while wheat sold at the local hoard ses sion at $2.29, 10 cents, more than was offered Friday, but 11 cents less than it was worth before the decline. At Seattle a similar quantity of club brought the same price. There were no bids at the exchange n hard white. September soft white offers were raised 1 cent, while red Walla was 5 cents lower. Club, hard winter and northern spring bids were un changed. Losses were further Increased In the coarse grain section. "White oats bids were reduced 50c&$2. and fray oats 3. Declines In brewing barley were 1 and in feed barley fi. There was no change in the bulk corn delivery price. According to New York advices. Ger man buyers took fair quantities of At lantic wheat at 3T cents over December. A Liverpool cable said: "Corn shows a substantial decline but parcels of corn afloat are still in fair demand and com mand a premium." Terminal receipts, in cars, were re ported by the Merchants' Exchange as follows: Portland . Wheat Bar. Flour Oats Hay Saturday ........ 87 Year ago 44 Total this week.. 5! Year ago 3"i8 Season to date.. 4131 Year afro ........2424 Tacoma Friday 33 Year ago . 3ti Season to date.. 12)7 Year ago 1428 Seattle Friday TO Year ao 52 Season to date..1031 Year ago . 1431 ...110 Si 3 o 2 1.5 39 3 121 41 152 372 3;;3 104 5U1 222 4t8 16 14 24 213 45 242 6d ... til 2o2 1 4 5 11 4 5 4 7 79 11 50 M0 08 171 175 437 BITTER WILL. BE IAffER MONDAY Three-cent Decline In Prints Is Announced by Creameries. A decline of 3 cents in butter in prints, effective Monday, was announced by city creameries. Parchment wrapped will sell at 63 cents and cartoned butter at 64 cents. The buying price of butter fat will be reduced 4 cents to 64 cents delivered In Portland, or SOg-BOc at stations. There . was was much demand for cubes during the day but a few lots of extras moved at 61 cents. The butter market has been weakening tor the past few days, owing to Increased receipts from the country, which could be expected after the close of the dry season. A car of Canadian butter is also coming in. Another element of weakness in the situ ation is the downward turn of the San Francisco market, which has been de pressed by increased receipts from the northeast and the east. The accumulation In that market consists largely of grades below fancy but the heavy offerings have weakened all grades. WOOL MARKKT WEAK. U?'CERTA1N Sentiment "ot Helped by Results of Lon- don A actions. A weak and uncertain tone continues in the wool market and sentiment has not been helped by the results of the London sales. No business is reported locally. Re viewing the Chicago situation. Hide and Leather ssys: "No trading of substantial size to stim ulate dealers buying or help to establish a market level. A car or two. or a limited number of bags moving, constitute the volume of activity carried on in the wool trade. Last confirmed sales noted con sisted of one car of western pulled scoured B lambs' wool at 50 cents and 60 bags of scoured high B super at 05 cents. In the meantime small trading is going on at private terms. "While conditions at pres ent are dull and the market absolutely featureless, there appears to be a growing confidence that better business is not tar off." KIROPE WOULD BUY SUGAR NOW x ports May Cbang-e Course of Prices In This Country. The sugar market continues in an un settled condition, but in some quarters it Is thought the export demand that lias lately developed will tend to steady the market. A further fall In prices, however, Is generally looked for, but it Is likely the declines will be smaller than heretofore. It is reported from the east tha.; 10,000 tons of refined sugar are under negotiation for export. It is evident that the Amer ican market has reached a level where for eign countries are more disposed to buy sugar from us rather than sell, and that if the present rather active inquiry from abroad results in - a fair amount of busi ness the market In this country may take on an improved tone. DEMAND FOR FRUIT FALLS OFF Bain Checks Local TjTnde -Tomatoes Com ing From California. The demand for fresh fruits of all kinds was quiet tn the latter part of the week. Very few peaches were in yesterday. A car of Yakima cantaloupes arrived and sold at $2.25(5 2.50 a crate. Monday a car of California tomatoes will be received. They are being brought up because much or the Oregon stock now coming on the market has been cracked or otherwise hurt by fain. Good tomatoes were scarce yesterday and sold at S5c&l a box. There has been a better Jobbing- trade la potatoes of late, as the rain has pre vented farmers from peddling. Good Bur ba 7 are celling at 2.50(jj 2.75 and Netted ems at S2.753. EGG PRICES ALONE ARE ADVANCING , Bayers Offer Country Shippers 63 Cents for Monday's Arrivals. "While prices of other commodities are breaking, eggs show a tendency, temporar ily at least, to advance. Fair sized "'out side orders and insufficient local receipts are the cause of the firmness here. Cash buyers paid 60 61c to country shippers yesterday and an offer of 63 cents for Monday's arrivals was sent. out. Jobbers sold candled ranch at 65 cents and ad Vanced the price of selects to 70 cents. Not much poultry came on the street yesttrday, but it was enough for tfes trade and prices closed steady. Dressed meats were also unchanged in price. Bank Clearings. Bank clearings of the northwestern cities yesterday were as follows: 5 Clearings. Balances. Portland ............ .$5, 438,31:4 $ 653.837 Seattle 6,41!.702 1,537,490 Tacoraa .. . '3,75l 74.870 Spokane 2, 3W 1,333 1.10. 137 Clearings of. Portland, Seattle and Ta coma for the past week and corresponding week, in former, years were: Portland. Seattle Tacoma. f 4.ol3.643 4.(163.3:12 4.70H.7IH 8.1U0.824 2.1U0.2.17 1,747.033 2.433.41)8 2. Xt3.1X8 3. !a4.3N8 . 4.710.353 1920... i i 1 3 . . . litis. .. iai7. .. 1916. . . 1U15. .. 1014. .. 11113. . . 1812... inn. . . .$44).:i4:i.7C5.: $40,544,831 85.tHU.H7S ' 3n.319.40iJ 10, tH2.Ui2 14,515.810 1 1. TOO. RIO 10.&SJb29 13.ltKJ.I17 12.6:!U,147 13,37-.'.!) 11 40.2r2,2y7 22,57,133 lB,r43,5U0 11. 17."9 12.434.505 13.4114,7X2 12. KII.1.001 11.5H1I.532 PURTLAM) MARKET QUOTATION'S Grain, Flour, Feed, Etc. Merchants Exchange, noon session. Bid Wheat Sept. Oct. Nov. Soft white 2.00 2.25 $ 2.20 White club 2.25 . 2.27 2.20 Hard winter 2,20 2.20 2.20 Northern spring 2.20 2.20 2.20 Red Walla - 2.10 2.10 2.10 Oats No 2 white 45.00 43.00 43.00 No. 2 gray 40. OO 40.00 . 40. U0 Barley - " - Brewing 48.00 4S.0O 48.00 Standard feed 45.00 40.00 45.00 Corn Millrun , ... 54.00 44.00 No. 3 yellow, deliv... 52.50 ..... KLOUR Family patents, 12.tW; baker's hard wheat, $12.25; baker's bluesteni, $12; valley, $10.50; whole wheat, lu.bu, gra ham, $10.00. MILXFEEI Prices f. o. b. mill: Mill run, $57 per" ton; rolled barley, $0002; roiled oats, SS; scratch feed. $S0 per ton. CORN Whole, $70; cracked, $73 per ton. HAY Buying price, f. o. b. Portland; Alfalfa, $23&24; cheat. $2122; ciover, $22; valley timothy, new, $272S. . Dairy and Country Produce. BUTTER Cubes, extras, 603x61c per pound; prints,parchment wrapped, in box iota, U3c per pound ; cartons, 64c; half more; butterfat. No. 1,' 5U&60c per pound at stations; 64c Portland delivery. KGGS Buying price, case count, 60c; jobbing prices to retailers;- candied. 60c; selects, 70c. ; CHEESE Tillamook, f.' o. b. Tillamook; Triplets, 31c; young America, 32c. POULTRY Hens. L'04f30c: springs. 3f& 32c; ducks. 25 t 32o; . geese, nominal; tur keys, nominal. PORK Fanes. 2r,Q2oQ per pound. VEAL Fancy, 23c per, pound. Fruits and Vegetables. FRCITS Oranges, $.25 fit 1.23; lemons. $5 5.50 per box; grapefruit, $3&6 per box; bananas, 12 Vj 13 Vac per pound; apples, $1.50 (S 3.75 per box; cantaloupes $2 ii 2,50 per crate; watermelons. 1 2c per pound ; peaches, $1.502.40 per box; c as abas, 2 (giftc per id - gra.pe i o i3 per crate. 10(ttl5c per lb.; pearsT $2.50fii)3 per box; prunes, 35c per pound; huckleberries. 20&22c per pound. VKGETABLitfl Cabbage. 22c per pound; lettuce, $22.r0 per crate; cucum bers, o0('.,c per dozen; carrots, $2.50 per sack; horseradish, 25c per pound; garlic, :;0c ; tomatoes, 40c C $1 box; beets, ' $3 per sack: turnips, $3.50 per Back; eggplant, jirc per pound; green corn, 2a"f4Uc -per dozen : sprouts, 15c pound. POTATOES Oregon, $2.50(f2.75 ner 100 pounds; Yakima, $2.7da; sweet potatoes, o Q 6 c per pound. ONIONS California brown. $2-32.25 per sack; pickling, 8i& 10c per pound. Staple Groceries. Local jobbing quotations: E SUGAR Pack basis: Cane, granulated. 16.30c per pound. MO.M?V.ew, $7.50i8 per case. NUTS Walnuts. 22!&'3Sc; Brazil nuta 3 5c ; f i ibe rU, 30 tr 35c ; almond. 35c ; pea nuts, 1 4 & I T'jccocoanuts, $1.75 per dozen. K1CE Blue-Hose. 14c per pound. BEANS Small white, 7c; large while, He; pink, St c: lima, 12c per pound; bayous, llc; Mexican reds. 10c per pound. COFF-EE Roasted, in drums, 25 40 c, per .pound, , Provisions. Local . jobbing quotations? HAMS All sizes, 42' 46c; skinned, 41 46c; picnics. 25c; cottage roll, 35c, LARD Tierce - basis, 23c: shortening. 20c per pound. Dili SALT Short, clear backs, 25 27c per pound; plates, 21c. BACON Fancy. 404?'5Sc: standard, 32 42c per pound. Hides and Pelts. HIDES Salt hides, all weights, 11c per pound : green hides, all weights, I)c; green or salt calf, under 15 pounds, 17 & 20c; green or salt kid, 15 to 30 pounds, l2v;-alt bulls, ic; green bulls, 7c ; dry hides, -2oc : dry salt bides, 15c; dry calf, under ? pounds, 25c; salt hors hides, large, $4 each; medium, $3; small. $2. PE L.TS pry fine long-wool pelts, 121Ac per pound; dry medium long-wool pelts. 10c; dry , coarse long-wool pelfs. 8c; salt lamb peltn. 50c to 05c; salt shearlings, 25c to t0c; salt cuppers, l.c to 2jc. : Wool, CaRcara, Etc. MOHAIR Long staple, 25c per pound ; short Htaple. j.c per pound. TALLOW No. 1 Sc per pound; No. 2, ,c per pnund. CASCARA ' BARK Per pound, gross weights, old peel, iVj0;-new peel, is Vise px pounu. WOOL All grades nominal. HOI'S- New crop, 5oc; Fuggles, 55. Oils. , LINSEED OIL Raw," barrels, $1.54 drums, $1.61; case. $l'to. Boiled, barrels. $1.56; drums, $1.63; cases, $1.71. TURPENTINE Tanks, - $l,u; cases. $2.11. - v. ri-KL huik, -.i"per oarrei. COAL OIL, T.nk wagons and iron bar rels, 1 7 Vic ; eass, 30 ( .! ic. . FUEL OIL- Bulk. $2.35 per barrel. GASOLINE Tank wagons and iron bar rels, 20c; casM, 41 r. SAN FRANCISCO PRODUCE MARKET Prices Current on Vegetables, Fresh Fruits, Etc.. at Bay City. SAN FRANCISCO. Sept-25. Dairy pro duce exchange closed. Vegetables Eggplant, lug, 6097&a: sum mpr -squash, 50c Si- $2; potatoes, street prices, river, $2,6542.75; sweets, 4V4i'ic; onions, yellow and white. 90c&$1.75; cen tral Australian brown, $1&'1.25; beans, 4& 6c; bell peppers, 50&65c; cucumbers. 75c tl- ceiery, crate, $4tf5; green corn, jack, $22.50; peas, 12V&411-3C; tomatoes, 6oc (& 1. Poultry Hens, large., colored, 37 38c; small, 30&33c; White Leghorn, large, 28 31c; small, 22 (ft 26c; strictly young roosters, 3U(Mlc; old, 2324c; Iryers, 40&43c, broilers, 4S$50c; ducks, 252Sc; pigeons. $3(0.3.50 dozen; squabs, -auoo; turkeys, alive, 5052o. Fruit Strawberries, 75c $1.20 ; rasp berries, 75&s5c; blackberries, $69; can taloupes, standards, 60 1.25; ponit-s, 65 jp 90c; flats, 35& 45c; watermelons, $1.50&3.50; dozen ; Valencia oranges, $6.50 & 7.50; lemons. V- W4.; grapetrutt, 9dz-4.a)U ; applet-. Belli lowers, $1.40$x 1.S5; peaches, $1.235 1.65; plums, $1.25&2; pears, Bart- lett, $3Cf 4.o, wrapped ; figs, $1 l.o0; grapes, black, $1.752 seedless, $1.25 p 2.50; bananas, 10 11c. Receipts Flour, 714 quarters; wheat, 3200 centals; barley, 010 centals; oats. 1120 centals; beans, 1200 sacks; corn, 125 cen tals; potatoes, 8148 sacks; onions, 7U56 sacks; hides, 500 rolls; oranges, 520 boxes. Coffee Futures Weaker. NEW YORK. Sept. 25. The market for coffee futures opened at an advance of tWQvpoints, but there was very little buy ing in evidence and prices later turned easier under reports of further recessions in the price views of Brazilian shippers. December contracts sold off from 7.85c to 7.70c, or back to the level of Thurs dav. and closed at 7.6ic bid, with the gen eral list closing at a net decline of 13 to IS points. September. 7. 15c ; October, 7.20c; December, 7.67c; ' January, 7.84c; March, 8.17c; May, 8.45c; July, 8.63c. Spot coffee quiet. Rio 7s, 8c ; Santos 4s, 13(&13c. Sugar Future Lower. NEW YORK, Sept. 25. Sugar futures were lower today under continued selling, prompted by the unsettled feeling in other commodity markets and the poor demand for refined. Closing prices- were six to 25 points net lower. The market for raw and refined sugars- was closed today. Naval Stores. . SAVANNAH, Ga., Sept. 25. Turpentine steady.. $1.35 ;, sales, loO; receipts 259 shipments. 201; stock, 14,490. Rosin firm. Sales 657; receipts, 860; shipments, 1136; stock, 48.827. Quote: B, D, E, F, G, H, I, J, K, M, N, WG, WW, $Xl.au. Dried Fruit at New York. NEW YORK, Sept. 25. Evaporated ap ples dull and weak; prunes steady; peaches quiet. Cotton Market. NEW YORK. Sent. 23. C-jtson Snot quiet. Middling, SS.OOc. STOCK MARKET RALLIES DEMA.VD FOR SPECIAITIES TCR.XS PRICES UPWARD. Bonds Are Strong and Liberty Js- . sues Score " Further Gains. - - Loans Are Increased. NEW- YORK, Sept. 25. The short inter est in the stock market attempted at the outset of today's brief session to press its recent advantage, further losses being sus tained by many speculative shares. Buying of oils, rails and some steels and equipments turned the tide, however, the general list, malting rapid recovery, with some substantial gains at the. fairly steady finish. Prominent issues of the rally em braced the Mexican group of petroleums, alsQ Houston, Royal Dutch and Shell Trad ing; Crucible, -Vanadium, Lackawanna and Sloss-Sheffieid steels, Baldwin Locomotive and several of the coppers. Rails were featured by speculative as well ancE' standard shares, Chesapeake & Ohio, Wheeling & Lake Erie preferred. Southern Railway, Western Pacific and Chicago & Alton rising with Canadian Pacific, Delaware. Lackawanna & Western and Reading. Sales were 275,000 shares. Increased strength was shown by bonds Liberty issues were conspicuous for addi tional gams.- Speculative rails also hard ened with firmness in the foreign group. Total sales, par va4ue, $8,850,000. Old United States bonds were unchanged on call for that week. The weekly clearing house report was noteworthy for another enormous expan sion oi actual loans. That item increased by almost $170,000000, or a total ap proaching $1834OO0,0DO in the past fort night. This brings actual loans, discounts, investments, etc., of the clearing house to a grand total of about $5,400,000,000, a high record for the year to date. Last Sales. High. Low sale. American Can 70o 344 34 34 Am Car & Fdy 3O0 13 133 133 Am H & L Pfd 2,4tH) 65 64 64 Am Inter Corp 1.400 75 75 75 Amer Loco... 1,100 94 94 V 94 Am Smt & Rfg MiO 60 59 00 American Sug 00 109 9 lu9 W 10" l Am Sum Tob " , lOO S7Vi S7 Vs 7 - Am Tel & Tel oOO 98 9S S Amer Woolen - l,3oo 77 76 79Vj Anaconda-.Cop 1,200 a'2 57 52 Atchison .. 20 84 84. 84 Atl G & W In 500 149 148 349 Kiilrt & Loco 8.3UO 112 llO 111 Bait & Ohio.. l.TOO 44 43 44 i Betlile Steel B l,3oO 74 7;i s 74 t'al Petroleum 200 28 2S 28 Can Pacific. . 1,700 121 120 120 Cen Leather.. 2.700 45 44 45 Chandler Mtrs 7H 79- 79Vb 79Vi Ches Ac Ohio.. 50O 66 65 66 Chi M & SfP l.IMMl 39 3S 38 Chi Ac Norwest 0O0 73 74 75 Chi K 1 & Pac 4.300 39 3S 39 Chino Copper 600 27 20 26 Corn Products 3.8(H) 85 84 S4 1 Crucible Steel 3,200 131 129 130 Cuba Cane Sug 1,100 3S 37 37 Erie .. .. ?. . . 300 19 19 19 Gen Electric 200 143 142 143 , General Mtrs 5,5"0 20 19. 29 , Grt "orth Pfd S'K) 7-S 78 78 ' Tnspr CoppeV.. 2O0 45 45 45 Inter Nickel. . 900 1 s 1 8 1 8 ! Inter Paper.. 2,3i)0 78 76 7S Kan Cty South 600 22 22 22 Ken Copper.. 40 24 24 24 Mex Petroleum 1.300 193V 387 192 M faml Copper 400 19 3 9 3 9 Mid .States Oil 4.4(H) 16 15 16 Mid vale Steel 3.70O 39 8S 39 Missouri Pac. 2.K(M1- 29 28 29 N Y Central.. J.(MW 76 75 76 N Y N H & H 2.700 36 35 30 Northern Pac l.OoO 81 80 80 Okla Pd & Rtg 100 4 4 4 Pan-Am Petrol 10,000 t3 92 03 Pennsylvania . 6O0 42 42 42 Reading . . b.. .6.400 94 93 84 Rep Ir & Steel I,3ftO 81 711 80 Royal D N Y "3.290 89 SS 89 Shat Az Cop KM) 9 9 9 Shell T & T . . l.OOO 54 53 54 Sin OH & Rfg 4.50O 33 32 33 Southern Pac 3.100 96 95 9 i Southern By. . 16.S0O 31 3o 37 S Oil N J Pfd 40O 105 305 lu5 Stude Corp.- 5,200 59 5h 59 Texas Cor 5,800 57 30 37 Texas & Pac 900 3S 37 38 Tobacco Prdts MOO 69 68 69 Transcon Oil. . 2.2m 13 12 13 Union Pacific sort 122 122 122 U S Food Pdta 300 58 57 57 U S Ind Also 0H1 84 83 83 U S IUI Stores Too 71 70 71 US Rubber... 3.70O S2 81 SI U S Steel. .. . 3.800 81 SS 8! U S Steel Pfd LtlO 16 IOT. 105 ITtikh-Copper. . ttOO 62 61 ,62 West " Electric 40 47 47 47 Willys-Oyerld 4.6oo 13 12 12 BONDS. U S Lib 3s.. .90.401 Anglo-Fr. 5s .. 99 , dolst 4s.. .88.00IA T & T cv 6s.77 -do 2t 4s . . . 88.70l Atch gen 4s ... 76 ' do 3t 4 s. ..89.40; p & R G con 4s 66 do 2d 4s. --89.10iN Y C deb 6s..loi tio 3d 4ris. ..90.72iN P 4s 80 io 4th 4 ; ..89-lOiN P 3s 56 Victory 3s . . .96.50: Pac T & T 5s. do 4s .90.301 Pa con 4s . U S 2s reg. . . .M01 1 s P cv 5s ' -do couikon ..M01So Ry 5s .... V S 4h reg. .. .MOf.'i; p 4s do coupon ..1051U S Steel 5s. Pan 3s ree 77 1 83 86 86 81 80 U 92 c-o coupon, . ..77 Bid. t Mining; Stock at Boston. BOSTON, .Sept. 25. Closing quotations: Aliouez .... 23 North Butte ... 15 Aria Coin 9fOld Dora 24 V- Calu & Aris...? 56 H Osceola Calu Hecla. .280 iQuincy , 47 Centennial . , . . JO Superior ....... 4 Cop Range .... 35; Sup & Boston.. 3 Franklin 2Shannon I East Butte 10, Winona 30 Isle Royalie 27 (Wolverine 13 Lake Copper. ... 3 Greene i&n ... 28 Mohawk 59 f SMALL INCREASE IN RESERVE BANKS Gain of Klghteeo and Half Millions Re ported by Federal Board. WASHINGTON, Pe-nt. 25. Combined re sources and liabilities of the federal re serve banks at tho close of business Friday were announced tonight by the federal reserve board as follows: Resources Gold and gold certificates .$ 183.326.000 Gold settlement fund, federal reserve board 841.3O3,0flfl Gold with foreign agents 111,453,000 Total gold held by banks.. $ 630,584,009 uoia witn reoerai reserve agents 1,211,619.000 Gold redemption funds. ...... 141,632.090 Total cold reserves li.siw sas mn .ue-guJ tender notes, silver, etc. 161.759.uou Total reserves ;S2. 151. 514 n0 .tsiii aJfcouiMea, sec urea by government wa.r obligations 1 20 41 oon All other 1.4S4.041.000 Bills bought in open market. . 3o7,624,mK) Total bills on hand &:ini iwk dimi (j. o. government Donas 20,S0S.O0ti C h. victory notes 60,000 u. n. ceriiiicaies oc in-aeDtou ness 270.C33.0O6 Total earninar assets. . ..$3,309,588,000 Bank premises '. lo,370,00U Un-co Keeled Items ami other deductions from gross de posits 818,958,000 5 per cent redemption fundi against federal bank notes. 11,824,000 AU other resources.... 4. 94 l.OOO Total resources. ...... LltLbittti'es .$6,312,275,000 Capi ta 1 paid in $ Surplus ... Government deposits Due to members' reserve ac 97.40l.OO0 164, 745. (MM) 46,493.000 count l,799,677,0Ofl Referred availability items... 596,342. OOQ utner aeposus, inciuamg lor- eign government credits. . . 84.910,000 Total gxo?s deposits $2,477,422,000 Federal reserve notes in ac tual circulation 3,279.096,000 Federal reserve bank notes In circulation, net liability... 214. 180,000 AH othe-r liabilities 78,531,000 Total liabilities $6,312,275,000 Ratio of total reserves to net deposit ana ieoerai reserve noce liabilities com bined, 43.6 per cent. Ratio of gohi reserves to federal reserve notes in circulation aTter setting aside 33 per cent against net deposit liabilities 47.9 per cen i. CREDIT SITUATION IS IMPROVED Price Catting- Is Expected to Relieve the Strain. " NEW YORK, Sept. 25. The stock-market, especially industrial shares, was very much unsettled this week because of an other wave of price cutting, which promises to be far more comprehensive than that of last spring. Bank interests viewed the situation w,th equanimity and were almost unanimous In the opinion that the ultimate result would go far toward relieving or correcting th protracted strain on credit conditions. This opinion was shared by treasury of ficials at Washington, who declared in ef fect that the time had arrived to refuse all requests for loans on credits which had their bass on the preservation of high commodities prices. - Shares most affected in the week price reversal were 4hose of companies mora or less identified- with the motor industry, notably rubber tires, leathers and tex- tiles, in which losses ranged from 10 to aJ most 25 poin ts. Automobile shares were under incesspnt attack and oils, which naturally follow any definite change in the motor trade, also fell back under pressure with steels, equipments and coppers. Almost the only shares to hold firm when not actually strong were the speculative rails. Trading in bonds was unusually large and broad, embracing many hitherto dor mant issues. The chief feature, however, was the sharp rebound in liberty Jwues, which retrieved much of their mid-year loss on buying of a substantial character. Surveys of the steel and, copper.tradea were of a less hopeful character, ep!nian apparently inclining to an early decrease of production in both industries- with in evitable reduction of prevailing price sened ules. Buying of the cheaper rails was ac companied by circumstantial reports of prospective mergers or consolidations. In wll-lnformed quarters the movement was attributable to speculative Interests. Call money was plentiful at 7 per cent. although a few loans were made at an advance of 1 per cent over that quotation. Time money was increasingly scarce and leading cates of exchange failed to reflect in the slightest degree renewed assur ances of payment at maturity of the Anglo- French loan. y LIBERTY BOND YIELDS SMALLER Market Price Advances Materially During: Week. SAN FRANCISCO. Sept. 25. Liberty bonds return a yield ranging from .4.11 per cent to 6.35 per cent, according -to a weekly table based on market prices' at the close of business today, Issuad .by the federal reserve bank of San Francisco Th tr-ble is as follows: First liberty loan "3 'is, market-price DO1, approximate yield 4.11 per cent; first 4s-, 88. 4.74 per cent; first 4 Us. 80, 4.95 per cent; second 4s, 8S4, 4.SS per cent; second 4g, 89; 5.09 per cent; third 44i, 00. 5.75 per cent; fourth 44 SS, 5.23 per cent; victory4s, 961,. 6.35 per cent; victory 3,, U6, o.4i per cent. Money. Exchange, Etc. NEW YORK, Sept. 25. Prime mercan tile unchanged. . . Exchange, steady. Sterling?, demand end cables unchanged. Francs, demand, 6.64 cables, 6.60. Belgian francs, denmid, 7.04 cables, 7.06. , - Guilders, demand, 31.00; cables, 31.12. Lire, ' demand.- 4.15; cables. 4.17. Marks, demand, 1.53; cables, 154. Drachmas. 9.3S. New York exchange on Montreal, 10 per cent discount. Bar silver and- Mexican, dollars ui changed. - . LONDON, Sept. 25. Bar silver, 59 d per ounce. -.- Money and discount unchanged. Excess Reserve Increase. NEW YORK, Sept. 23. The Actual con dition of clearing-house ' banks and trust companies lor the week shows thnt they iiold $23.eOi,2oO reserve n excess Of legal requirements. This is an Increase of $4. 205, 850 from last-week. This includes frst report of Equitable Trust comuauy Swift A Co. Stocks Closing prices of Swift s Co. -stocks at Chicago were reported by . Overbeck & Cooke company of Portland as follows: Swift ft Co. Swift International ' . . . Libby." McNeill & Libby National Leather- . ...108 its 12 10 DECLIE NOT CHECKED BUYING BY EXPORTERS FAILS TO HELP WHEAT MARKET. rCiiicago Options Close at Net Loss of 3 to Over 7 Cents; Corn and Oats Down.. CHICAGO. Sept. 25. Wheat today con tinued to be the target in the drive against high prices ami the maraet renewed its downward trend, but not on as large scale as yesterday. The finish showed a net loss of 3 cents to 7 cents, with De eember $2.18 to $2.19 and March $2.11 to $2.12. , Corn was off 1 c to 1 Vhc: oats were down hi c to 1 4c and provisions ranged from unchanged to 2 cents lower. Wheat continued under pressure from bedgers, tired longs , and an increasing amount of bears. The economic situation was said to be the reason for increased short selling. - There was a big demand for the cereal on the break from export houses, but even this, failed to halt the decline. Houses witn seaboard and for eign connections ere good buyers of De cember, which snowed less1 weakness than March. New low figures on the crop were reached again todays for the deferred fu tures of -corn. Liquidation was on and while there was a fair support earlj", it was withdrawn when wheat broke sharply. Weather favorable for maturing the crop ISO was a factor m lowering prices. Oats showed stubborn resistance to sell ing pressure, but weakened with other grains and also sold down to new low figures on the crop. , Provisions were weak ana lower, the decline in grains and commodity prices being the main influence. The Chicago market letter received yen- terday by Overbeck & Cooke company of Portland said: -- Wheat Th volume of trade was enor mous with heavy liquidating sales in evl dence from the opening of the market. The buying, in part, was by houses with seaboard connections and apparently re flected export business, although llttl attention was glvein to this fact because of the drastic declining tendency in H directions. Cash prices declined with fu tures, but premiums were weir maintained There is as yet no Indication of Increased seeing by the country, but whether th attitude of the producer will meet "with ultimate success is extremely doubtful, in view of the process of deflation, which now seems to be under way. It is reasonable t assume, however, that the absorption of wheat by foreigners will cause good up turns from time to-time. Corn The hulk of the buying was 1 the nature of short covering over th week-end, but the selling pressure was by far in excess of the demand and the mar' ket continued- to Rag to the lowest levels or. the crop for thl deferred detiv,rl-s en the lowest price on the current movemen for September, which was due to liquidat ing pressure throughout the session. Th principal depressing influence was the in dictation of large receipts 'for Monua which might prove to be quite a burde because'of the inadequacy of the demand A sale of 80,000 bushels was reported tho seaboard for export, but this w.is of no consequence as the country continues to sell freely regardless ot price. Oats This commodity was again under pressure and the lowest levels on the crop were reached, finishing near the bottom Buying by shorts and elevator interests had no material influence. Cash prices were 1 to 1 cents lower and the trading basis in the spot market reduced to 1" cent under December for -No. 2 white and 2 cents un der for No. 3 white. Export bids were r Use Your Vacant Lot A mill-made sectional p:arap:A will rent for from $6.00 to J8.00 per month, piving you an- in come of J72.00 to $96.00 per. year. They rent readily In any part' of the city. Delivered and erected on 48 hours' notice. Hup TCrt 1ft i.o.f ...1 lAvie rage, maae or o - in "V" ru siding, sells for- $75 F. O. stic B. roriiana, or.. Krected in Portland for $5.00. Write or phone for particu lars. :BwxodSales&5on Manufacturer, of Ready-Cut and Sectional Hbush sad (aras;ea. Wli Title 4 Trunt Bias. On Fourth St., Bet. Stark and : Oak. Phone Main 4724. Yielding 75 ported close to a working basis, but no ac tual business resulted. Rye Futures followed tha decline in other grains, influenced particularly by the action of wheat- ; Cash rye sold 1 cent to 3 cents lower. Provisions Scattered liquidation with very little support. A declining market in rrogs." :ome buying by packers checked the decline. Leading futures-. Tanged as follows: " WHEAT. Open. High. Low. " Close. . . .$2.22 $2.23 H $2. 18 $2.18 4 ... 2,11 2.13 2.06 . 2.18'A CORN. ... 1.22 1.2$ 1.20 1.21 .... .96 -93 .0314 OATS. . . . .57 H .58 .56 .57H .60 .61 .60 ,66Vs PORK. Dec . March Sept. Dec Dec. May Sept. Oct. 24.45 '24.45 24.45 24.25 LARD. Oct .-...19.80 19.80 19.50 19.60 . 11.80 Jan. 18.00 18.00 1 7-60 RIBS. . Sept.- 16. 5ft 16.50 Oct. 16.70 16.72 16.50 Cash prices were aa follows: Wheat No. 2 hard. $2.S02.3t. ' Corn No. 2 white, $1.21 tv 1.22: No. 2 yellow, $1.211.23; No. 2 mixed, $1.21 i.j. Oats No. 2 white, 56 57c; No. 3 white, 55-x55c. ' Rye-i-Na 2. $1.05 1.97. ; Barley 88 98c. Timothy seed $6 7-50. Clover seed $18. ' ' - Pork Nominal. Lard $19.65. ; Ribs $16.5017.50. v-' Kastern Dairy Produce. CHICAGO. Sept. 24. Butter-r-Hieher. Creamery. 44i59c. r-Kffs Hifcher. Receipts 7760 cases: firsts. S454Ae: ordinary firsts. a5Ue; at mark, cases included, 40f 53c; standard, 55c; storage packed firsts, 55 G5tic NEW YORK, Sept. 25. Butter ' unset tled, unchanged. Erks firm, unchanged. Cheese irregular, unchanged. '. r - Minneapolis Grain Market. MINNEAPOLIS. Sept. 25. Taoh wheat. No. 1 dark northern, f : fancy fi454 92 -50j :. No. 1 northern, fj.26 4 i0 35; No.- 2, S2.28V.ei2.S0i4; No. 3. S2.15U 2.2SV4; No. 1 red spring. S'J.aovi fr2.3rvt: No. 1 dark hard Montana, S2.3014 fi)2.S2V4: No. 1 hard Montana. S2.25V4; No. 1 Durum. $2. 1 l W2. 10 V, : No. 2. J2.11V1, (8-2.14: No. 3. 2. OS V. (S 2.1 1 Vi. t;cirn r-io. 3 yellow, 1.0li4J' 1.08; No. 3 mixed. $1.05 (r! 1.07. Oats No. 2 white, S24 534c; No. 3, 61H52V,e. Barley Choice to -fancy. SR03c: me dium to good, S0S7c; lower-grades, -67 70c. Rye No. 2, $1.70 QVTl. Flax $3.133.1. Xuiuth Unseed Market. : Dl'LUTH, Sept. 25. Linseed.' $3.1610 S.24. - Grain at San Francisco. SAN FRANCISCO, Sept. 25. Grain Wheat. $3.50 M 3.75; barley. J2.10fe2.15: oats. $2.30 2150. Hay Wheat, fancy, $2B28; light five- wire bales, $23ii25; tame oats, $232o; wild oats, IIIBIS; barley. S1720: al falfa, second cutting. S215P25. . Seattle Grain Market. SEATTLE, Sept. 25. Wheat Hard white, $2.40; soft white and red winter. $2.25; white club, $2.26; hard winter and northern spring, $2.3 red Walla, $2.10: eastern Walla. $2.22; Big Bend blue stem, $2.48. Feed Scratch feed, $82 per ton : feed wheat, $S7; all grain chop. $08; oats, $80; sprouting oats. $04; rolled oats, $02; whole corn, $72: cracked corn. $74; rolled barlay, $3: clipped barley. $0a Hay Alfalfa. $30 per ton: double com pressed alfalfa, $30; do, timothy, $42; east ern Washington mixed, S3tl. FIRE THREATENS. MACHINE Pastor Kxtingulshes Blazing Cur tain Surrounding1 Votings Apparatus SKATTLJ3, Wash., Sept. 25. The police are in vestig:atinjr a fire which threatened the destruction of a county voting machine in St. Paul's Lutheran church early today. Rev. W. Miller, pastor of the church, who was in the building at the time, heard a door slam and upon investigating- found the curtain screening; the voting- ma chine afire. He extinguished the blaze and notified! the police. According1 to police investigation the record of the primary vote In fhe precinct. No. 60,' was not . damaged. ' Bids for Bridge Opened. ASTORIA. Or., Sept. 25. (SpeciaX) Bids were opened by the county court this afternoon on the construc tion of a new drawbridge across the Walluski river, to replace the present structure.' The lowest bid of the bridge complete was that of the Port land Bridge company, in the sum of $29,600, about $2500 higher than the figure received a few months ago and which was rejected as befng too high. The court has taken the new pro posals under advisement and will an nounce its decision in - a few days. Are Stocks Headed Up or Down? After a decline in security prices 'extending over a -period of nearly a year, aue to industrial deflation, it is of interest to know .whether the downward movement has culminated, or whether the strong rally which has re cently taken place represents a bulsre preparatory to a further decline. , In view of the extreme im portance of this guestion. we have attempted to indicate the nrobable trend of the market over the balance of the year in an editorial ap pearing in our current . Market Review. This publication, which cur rently discusses developments in industrial, oil and mining companies, will' be sent to anyone tree upon request. Ask for PC-5 E. M. Fuller & Co. Members of Consolidated 5 look Kxeaaage .f K. T. SO Broad St., New York. New YrW riswsrk Clswkad Chicas Bsstoa KDirtct Prnxt Wivtt Service to Clients This office has a reputation for delivering . to its clients service that satisfies. JOHN SCHIBEL Insurance Broker and Adviser. Wilcox Bldg. Main 8020 (payment! NyN, 1 Month 1 rf Month j We Offer, $443,700 CITY Exempt From ; Dominion Govt. Tax In addition to being; Edmonton is an Industrial city of $0,000 to 70,000 people, and the commercial center of 255,28$ square miles of agricultural lands surpassing in the production of wheat and other grains and livestock. Into Kdmonton pours the wealth of the McKenzie River Valley and 'the great Peace River Country, and out of it, in turn, the equipment and supplies for those vast wealthy empires. Dated September 1. 1020. Maturities as Follows: $178,000 due Sept. 1, 1922; price 94.62. $166,000 due Sept. 1, 1923; price 92.26. $180,000 due Sept. 1, 1924; price 90.11. Morris Brothers, inc Portland, Or., Morris Bids;., 309-11 Stark St. Safety l - 1 ' wn '"v -"r - '"v t yf m w egjf'g-"' - i-kClaf 1 r' 12 I 'v' -r-? i - -r-, t f k a It is in the above large building that we are packing the "boneless" salmon that has created a distinct stir in canning circles. With nearly every other cannery in the northwest closed on account of poor market con ditions, this cannery is way behind in its orders at prices that-will net us from 100 per cent to 150 per cent profit on the pack. In order to take full advantage of the market we have created we must increase the output of the cannejy at once. Plenty of salmon but not enough machinery, etc., to take care of it. We also need a new box factory to make the thousands of cases we use. hue our boat are all showing a profit, the profits alone are not sufficient to tafce care ing. For that reason we are offering all alike, all non-assessable. No bonds, no mortgages. We have $53,000 of stock. at 15c a share irrthe treasury. Invest any sum from $30 up. pictures"of the plant, map, etc., in our new circular. Send for it today. QllEETS TRADING CO., Hoquiam, Wash. "We refer to any bank or business house here, to the Commercial Club or newspapers." . - WE WI1.I. BCT MOO Amal. Mines (Ore.! BOO Heaver Mates Motor Iw Commonwealth Finance 10 lictoKrapli I'roduets , SO00 Iluthie Oil Synil. 'lOOO Hull Copier Co. lOO Heels Mining; - 50 New World Life Insurance Co. 25 Pacific States l-'ire 10 IVino V arehoune & Milling WE WITLI. SELL SO Amer. I.ifeograph 1000 Alaxka Pete. Coal Co. 50flO Alui.Ua Fmlirott Hth Hankers Mortsace Corp. ' 31 Pennos Food ' inotr Harvey Crude 6t Invaders of Tex. ?3 Lambert Tire A; Rubber 30(H) Mike Henry Oil 10 INtrtland (ias Hi Coke S.I Pacific Mates Fire Ins.' lnXt tJueelH Tradins; t o. 500 Koyalty & Producers Liberty and Victory Bonds BoURht and Sold at New York Market Quotations. T ESTABLISHED IBS. I STOCKS and BONDSj Main XS3 Railway Exchange Itullrtlnr Members Chicago Board of Trade Notice to Hog Feeders The Caterers of Port land are ready to enter tain a proposition for ciisposal of their swill to responsible party for a period of five years of from 60 to 80 cans daily. Bids for this will be received by undersigned up to October 15, 1920. Frank W. Beach, Sec. 715 Couch Bldg. Jumper Avenue, Edmonton Subject to Prior Sale and Change in Price General Obligation 6 Gold Notes of EDMONTON 0 1IC Denominations $100, $500 and FIN'ANCIAI. STATEMENT - Assessed valuation Value municipal property (not including public utilities) " Net debenture debt Revenre from public utilities (above cost of operation) Net local improvement debt General Onllsratlon Noten, thene are debentures totaling; 2.!M,420.M. Principal and semi-annual interest (March 1 and September 1) payable in Gold Coin of the United States in New York and at the offices of Morris Brothers, Inc. Telepbone or Teleftrsph Orders at Oar "The Premier Municipal Uond Houwe." KstabllMhed Over a (lunrter Ontury Capital Over Million Dollars Mcrclinnts Nntlonsti Rnak llldK'. San Francisco, Cal. Plus a small block of our stock at loc a We own and offer $100,000 ortland Call or 'phone Maim M CAPITAL FURNISHED To Establish Industries Hafl your concern been established for at least two years? Kan your concern paid two or more dividends? Have you an ample list of stockholders? If o. we can sell your Increased eajfltal stock or unsold portion of authorized cr.pital stock expeditiously. We have a thoroughly efficient organ ization headed by a 'Chicago banker. Our sales methods are new and nave proven successful in every instance. Give comprehensive outline which, will be treated confidential. GREEBAUM A 15ET7TSCFI Continental & Commercial Bank Building. Cbienffo, Illumi. Big F - - -w:.. 1 'm. rs- "et:iiL wrp PUwsuSJ'Ta? Exempt From Dominion Govt. Tax $1000 $S6, 605,715. 00 11.035. 37S. 00 9. 44S. 997.00 767.773.00 3.046,763.00 secured by long-time Fxpenxe Seattle. Wash., No. :t Central Hid. rofits line, cannery, hotel and general store of the rapid expansions we are mak share. Our capital is $100,000. Stock worth of property, and $71,000 worth Full particulars, about the company and OVERBECK & COOKE CO. Brokers. Stocks, Bonds Cottosfc iraln. Kto. CI6-Z17 BOAKO OF 1KADE BLDO. CHICAGO UUAiUI 09 liiAl MEMBERS Correspondents of Lokbd A Brytts. Cbicaio auii Acw Sforsw New York Stock Exchange ChicaRo Stock Exchaoxo. Boh ton Stock Excbanca. CliicaKO Board of Trade. New York Cotton Exchange New Orleans Cotton ExcbaaftM New York Coffee Exchance. New York Produce Exchance. Liverpool Cotton Aasociatioa. Complete Ietall County Maps of lexas New and Different. 18 SEPARATE MAPS and a copyrighted Action Map, "In. the lOart of the Billion Oil Trail," carrying an oil lease message that has hit the chord of public approval. Brand new and orig inal, metinc with nation-wide favor. You'll sa.y it's 1O0 per cent th minute you g-et the facts. Eon't fail to write at once. Not one bit of obligation on your part. If Free. Address W. W. nCNCAV, ou -a- " a "a . i un Jiug,a Denver, Colo. Industrial and Commercial BUILDINGS DESIGNED AND BUILT ERTZ & WEGIMAN GENERAL CONTRACTORS 651 PITTOCK BLOCK Invented in Foreign Money under our new plan make possible Profits S1000 to S20.00D Sena 10 cents stamps at once for our new 288-paRe booklet, with lull par. iiculsrs We are specialists in Foreign exchange, and maintain branch offices in many large Clues. CEO. H. PERKINS CO. 50 Tlroail Street. New York I