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About The west shore. (Portland, Or.) 1875-1891 | View Entire Issue (Aug. 1, 1875)
TIIE iWEST ; SIIOllE.
FINANCIAL AND COMMERCIAL.
The month of Juno opeued wit It a very quiet
state of affairs In our local money market, which
had been In the suiue condition far nearly nil of
Slay, and hoi to continued until the present
This was not so much because of any prevailing
dullness In the several departments of trade, for
the past spring was not specially characterised
by any want of Activity in business generally;
nor was Hie apathy, In strictly nnanolnl circles,
owing lo any unusual lack of available fundi, for
the banks havo held rather more ttinn the nver
age supply ol capitnl during the quarter ending
Juno JUili, and with the offers at outside parties
the loanable means In the market was and still
' Is, quite Inrgafor the times and the locality. He
mlttances from ttio Interior In liquidation of ac
counts for storks of merchandise purchased ear
Her in the spring have also been coming forward
In a volume at Ipiisi rqiml to, mid wc think above,
the nvernKo of former years. Merchants, as n
nile.huvesuflVred but little from bad dobts, and
have been able to meet their engagements
promptly out of the resources of their business,
and lmvo forwnided a very large amount of spe
cie both to the Kiisteinmid Him Francisco mar-,
kots lo offset the accouuts standing against them
for nn umitiiially heavy Importing business done
since tlie first of January lust. The rates for
lottos and discounts have been lower on nn uvor
nge thlK seimnn than ever before in the Portland
market, and our moneyed Institutions are now
well set l led in the conclusions to which they
have been brought by tbo inevitable " loglo or
events," that as the profits on all mercantile and
other business pursuits and enterprises have di
minished as the amount of business has In
creased, the worth of the uo of money Itscll
must decline uud rates of Interest comedown lo
a proportion to I ho margins which men might
reasonably anticipate on Investments. Compe
tition In ail departments of business, too, has
had nn indirect etlect In establishing n better
comparison between the profits on the business
of ninney Icr.dlng und other department of
trade, TJie capitalist who louns.rnn no lunger
expect to renllto two per cent, per month, while
the morchimt whom he accommodates, by the
closest attention, cannot, after paying expenses,
reasonably ant leipatcn margin more than linirns
This "settling down " piocew has been going
on for several months, and the results nrc made
more obv(-us by comparing tbo transactions at
present with those of ono or two years buck.
Flrst-clnts commercial pnjer is now freely dis
cmi tiled at (land 10 percent, in Inrgo sums vrjien
otrered.aiid real estate loansof mngnltudocan
be effected on nearly as moderate terms, though
In regard lo the latter, the Inquiries of i he lender
cover a wider range; and the value and looallon
of the security proffered are questions which often
inndiry the disposition with which accommoda
tions nrc granted. The trnnaotlons now current,
however, both In commercial discounts mid
tonus on real cslate, are by no means large In the
aggicgiite. A lull lu the demand, which set In
several weeks ago, is still reinnrked, and with a
limited Inquiry for finnncinl favors, at least an
nvemge supply of nvolluble fm ds, and no oppor
tunities offering, with special inducements to
make investments, wc can only report the money
market In an cosy condition at present, with ev
erything Indlcallvc oflls being very wills factory
nt the commencement of the next harvest year,
Tho prom (so of an abundant grain and fruit
harvest throughout tbo Btato gives a cheerful
nped to the outlook In I rude matters for the fu
ture. In regard to hreudsiufT, tbo leading com
modity in Oregon's products and exports, the
prospect, In our Judgment, Is much better than
H was nt a corresponding date last yenr, and iho
low prices now prevailing are more likely to ex
perience an advance than a decline when the
harvest In oilier countries shall have sufllclcntly
ndvanred to enable dealers to arrive at some defi
nite calculations as to i ho probable wants of the
markets of the old world during the yenr. Ad
vices from Kngland, Hid great grain market of
the old world, Indicate fiilr crops at least nnd she
will probably produce as much of tho amount
he reipilrcH.us usual, so that ihedeinniid for our
surplus In that direction will depend entirely
iiH)ii tho surplus in (bono other countries which
compete Willi us In her markets. These coun
tries aro California, the Northwestern Htates,
France and Hussia. In these, the reports of la
test duto show lu California a two-thirds to thrca
fonrthi or an average; in the Northwestern
Wales, not more than half average; In France, n
yield shorter by nt least one-fourth than In 1874,
while In It umI ti tho reported condition of the
crop was moderately good for an avemge crop.
The trude In domestic produce during Uie pnst
month hits been ftiir for the season, but In vol
ume, consldeiably below the average lor Die two
months preceding. Wheat has seldom bocnoF
lered.aiidlhal coining foiwanl has beea mostly
taken by tnUlers, Hxpvrters being urged by qo
neeensiilcs pressing iliein intolhc market to com
llc with the millers who can place their pur
chases at any time. Flour has been Infalrsup
ply aud shipments have been qullo largo both to
ports to Hie north of as and to Han Francisco,
wlille tho ship cvy rf Virnm has loaded with
W barrels for the Liverpool market, probably
Hie last shipment to Kumpe for the harvest year.
I'rovbdui.s liavecome forward quite liberally
and the supply of bacon, hams and other cured
meats has bvon in excess uf the demand either
for export or home consumption, though lord has
been steady at a round figure.
Tiie old crop of oats and barley In about ex
hausted ami hardly enough is held In the Hi ate
to supply the local trade until after harvest, this
being especially true la regard to hurley, souie
Import from California having already been
The hay crop of this yenrs harvesting Is eom
Ing forward lu auulcluiit quantities to supply the
local trade uud la otreml ut low flguraslo ad
vance as tbo yield throughout tbo Htate Is re
The article of potatoes, usually considered of
uilnor Importance lo the list of our commercial
commodities, has orn pled n large share of the at
tention of some or our nmtmiuioa houseavho
bava realised in soma Instances qutu hand
somely en them. The old crop Is now well
cleared out. ...,. , , ...
Apples have been In fan-demand with but very
few lots and these of an Inferior quality.
Dairy products have also been In rather dimin
ished supply for the season, but receipts of tho
week just pastrhow a slight Increase
Eggs have been steady at a better figure (ban
usual for the period of tho season and are yet
held at good prices.
Poultry is In falrsnpply at moderate quotations.
Tho shipment of bides Is becoming an Import
ant feature In our trade- nnd though It would bo
bettor to have theso hides tanned at homo nnd
made Into articles of uso and wear, thoir ship
ment Is the source of quite a large addition to tho
capital of tho State. Every outgoing steamer
carries a lurge Invoice, and prices have during
the entire period under review been steady at the
quotations which we give below.
Wool has attracted more attention recently In
our market than almost any other article of do-uii-nllu
pioduce, aud (Uuiojli Urn cold wuuilier
whlch prevailed early In the shearing season
kept back that work, for the past fortnight, tho
receipts hero have been very considerable and
tho number of buyers In tho market being largo, 1
prices have boeu up to about the best figure
which tho demand abroad Justifies,. The ship
montsso fnr during the season havo boon about
600,000 lbs., begfdo which our State manufactories
havo purchased quite extensively for their own
uso, and several hundred bules aro held In store
hero and nt points In the Hlutc,
In the line of Imported goods, tho Interior trude
having been supplied prior to the period spe
cially under review, importers nre doing only a
modorato business In seasonable goods nnd ship
ping selected articles to fill up broken stocks,
Bool and shoes have ruled steady, ond with a
lively competition between importers nnd some
Increase in homo manufactures, tho margin to
dealers has been small. ,
Hags aud bagging material show some anima
tion as harvost approaches, and with a liberal
mipply in the hands of importers, quotations are
rathor below those which ruled lust yenr.
Groceries of all classes were very largoly Im
ported during the Spring nnd the trade has been
good. Stocks In some article aro now lower and
a disposition in prices to stiffen a Ditto Is shown.
Staple groceries nre firm at Sftiftl cts. por pound
for Old Java Coffee, Costa Rica, 22 affl, andOunte
inala,21'i!,with a good article of Konn at tho
same figure. Sugars are quoted at UolOc. rorNond
wlch Inland, Halloo for (lolden C, 11012 for
Crushed, and l'j);oi3M for Powdered and Granu
lated, extra fine. Teas nre In largo amort men t
nnd supply at figures ranging from 3576c por lb.
Snlt is also plentiful quoted at, IJvcrpool, (fine),
per ton, Carmen Island ?I8 I'nlon, $N'i)lR,nnd
Ut U., tli. Syrups nre firm at T0ct72)jo per gallon
In hbls,7'a in hf bblsnud SOa in kegs. Our quo
tations nre wholesale nnd Jobbers' prloes, .
Tho question of freights Is ono whle.li hnff nl
ways btten an Important one In Oregon's com
mnrolal Interests, and as hor products Increase
and her exports assumn a magnltudo that nt tracts
the attention of the trade In all countries with
which she deals, this question becomes one of
more and more consideration. In the year 1K74,
It required 200.C0Q Ions of tonnngo to move tho
various product of our Stale over those required
for homo consumption, nnd tho wnnts for the
current yenr will bo at least W.0W tons greater.
During the pnst six ycnrsofir exports have shown
a greater percentage of Increase than any other
Slate In the Union, and (his Increase will bo kept
up this year. Tho outlook for a fair supply of
foreign tonnngo to move our bread h lulls is good,
but most of It will arrive seeking and will have
to bo chartered on tho spot. Grain freights in
ohj market are entirely nominal nnd In Sun
Francisco, nearly so, a few charters having been
recently effected there at SAiSS ft, per ton Air Im
mediate dispatch, while fil Is asked fur vessels to
lond with the now crop.
Wo hnvo now only two grain vessels In port,
the CUyitf Vh nnii loaded, and Iho bark Stmthnlm
awaiting ordeta. In Han Francisco thoro uroSniiO
tons of disentailed tonnngo and enough under
engagement and nn the way to thut port to bring
iho supply Tor the year up to what will be re
quired to move tho entlro wheat crop of Cali
fornia. The quotations at this time for domostlc pro
duce In our local market are slondy generally at
the following fliiurcx:
Vheat,l 50 pur cental. Flour, extra, l lha
V 00 per bbl. duts, (&m7c por bushel, snuked.
Itarley, $1 HVifl M perewt, Itmn, $ Hot Id per ton.
Chopped Feed, fff COrtl-IO (10. Shorts, fi2 NW35.
Hay, IKMll Potatoes, old. Sc por lb now, l)jn
1C Onions, W!I 2Tiper lOallw. Dried Apples,
7u8e per lb. Uncon, lial2e. Shoulders, fringe
Hams, lSVjrilfr, Lard, hV, nutter, 2ftr2e. rheese,
17ilHc. Kggs, 'jnaxte por do. Uhlokens,$3a4i per
dos. Dry Hide, choice life per lb., Inferior do fa
lOc, Green, 8c. Tallow, 6c, Willamette Valley
Wool, in gisid condition, 2i2ifl. Inferior, Ifti 20c,
Eastern Oregon, 2Ucl for fair lo choice and Ito
Voiij lo Lou od M Estate Securities
OnFGON AND WASHINGTON
TRUST INVESTMENT COMPANY
Of Scotland, Capital 7AO,OOU-Jold,
Prmhlrnt, Right Hon. tho Kaii. or Airlis, K.T.,
Corlachy Castle, HcuMand.
Oregon Ioenl Board: R. (Inldsmllh, Iortlnnd,
lonal-l llsicleay, Portland.
W I i.i.i am llKir,(Aiikcny' Uullding, 9 First HL,
Ians mnde from Iwo In flv, or In speehil ca
ses, eight years, repayable by liiNiiiluieiiU each
year or in on i sum, secured by uiortgnx dis'dn
upon utilnciimberi'd fur in liiid only, uud oceu
pltil city property in l'orlluad.
, Application must be made penonnllv or In
Writing to WILLIAM HKII1,
Manager O. and W. Trut C.,u First St,
t. V4JV FltlDAGlt,
Whotrrafo ai Krtsll tVs)r In
DR-JT OOODS, ; 4
Fancy I Milliqery Goods
8HAWLS AND MANTILLAS,
79 First St., bet. Washington anj Surk,
JAMES LAIDLAW & CO.,
V, First Street, Portland.
BOLE AGENTS FOR GIANT POWDER,
Lea A Perrln's Worcestershire Sauce;
Agents for Dundee Grulu Bag Manufacturers,
And Exporters of
GRAIN, WOOL and SALMON, nnd other Olt
Dwuld Maclut, KmJCSKTH Maclsat. Pitrtlunil.
WM. COKIIITT. Mi SlUTIHllullllt H nM pnnclMO.
CORBITT ft MACLEAY,
13 1 15 Front8t.,Biid 10 A 12, First Ht., 1'ortlnnd, O.
Hlilpplntr and Commission Merchants,
TEA, TOBACCOS A LIQUORS.
Whmt, Floor, Wool, and all kladi of Ore.
Mheral CiibIi Advnnee. on Colmlitninpiitii.
J. MoCRAKEN & CO.,
S111PPINO COMIIINNIOX MH1U IIAXTS,
M, 6S, U .nlMi North KninlSt., IVHIndil, Orogoa
AOENTS FOR UIMIUV'M D1INDHK H.M1H
and Biilr.t! JI,. Murray mid w. K. I.owl
A llro..1 COM) uimdHi Ohwoko KlnK"fnnl Mtr-h:
inmii.wi.ll', spire., Cronni Tnrlnr und OrynUI
Mnauil: Oron ro.' uud Umi'r.v. Hon.' Cun
ll"; Huloin Und l'o.' Whllo l.d.
,.'nl""if"r Il"'.r'.'"'."vl" fl"'irln Mill.: M.i.
N. 11. Rppelnl nttentlon nid.l to Htili.'n Im.lueM
nnd imrchusliin i:urgiH'ii of Whom nnd Flour.
W. JACKSON CO.,
Wholeanlo anil retail tlcnlori In flnit nimlltv
SKTH T1IOMW t'LOC K-l,
Ami it jroui-nd ItMniiiiiMit of
House Furnishing Goods.
PAINTS, OILS, &C &C,
No. 30 Front P tract. .- . Portland, Oreuoii.
A. I. llirTAUItt ' . K ! LdHt,.
Huii rraucUco. . . , I'-rll mil.
A. P. HOTALINO ft CO.,
Sub AKfiitt lbr hs J. H. Ratter
OLD BOURBON WHISKY,
And Importers of ,
FINE WINES AND LIQUORS,
4-11 Jnck Bon ft., Rnn Pmncheo,
Anil 33 Front Nlreol, PortUnrl, Orotfon.
JJARDWARE, IRON, STEEL,
HUBS, SPOKES, RIMS,
OAK, ASH AND HICKORY PLANK
Cor. Front nntl Yntnhlll, Portland.
J; A. STRO WBRIDGK,
IMPORTER AUD DKAI.KR IB
141 Front St., Poi-tlimd
iiiti mmm u.
MANIIPACTITHRUS AND IMlOltTERS,
Wholciale and ltelall llealers In
FurniVars, Esddiaj, Cirpsls, Kirron, Stc,
Kiw. W, , W bdiI 96 Front it., lift. W,l.tirtiii. and Alder
Made in Walnut, AMi, Maple, Alder, Malutuany
nnd Hpruee; tnade of kiln ilrlcl (.uuiImt, by iho
very Im-hI Workmen iiiul Miii-hlnery. Wnrranliil
WTIUN(KK AND IlKITI'.ll than any Itniioned
Kurn luirehy the
Oresn Furniture Hanuferturlns; Co.
City Foundry Oachine Shop.
JOUX IIOXEYMAN & CO.,
Cor. Columbia and Front Hts., l'ortland, OrKon.
IRON ij'. BRASS CASTINGS
Of Kvvrf Description
Furnished at short notice at lowest markot rales.
J8S Repairing promptly attended io.
t COIIT. . L. KOSRKrRLO.
COHN & R0SENFO.D,
Oregon and California Produce of all kinds,
Vrmt BL. bL Morttaon sn4 Tsmlilll, rortktul, Offt
Cash paid for Butter, Vxv, Poultry and Hldrr.
. tfOoxiioaiiurs Solicit u.
ektaiimhiTkii is iivi
DEKUM $ LICK EL,
MasfM4iiRra and ImtMtrlrrs of
AMERICAN. GERMAN ft FRENCH
tXSt XI J" Jt (I'i Mt JC1 4 r(
No. U First Htreet, - - fortlsud, Oregon.
STOCK BOARD OFSAN FRANCISCO.
ON AND AKTRIt '1'UIS ITE I AM HUE
pared to huy and sell on lllinral torni. Htm-ks
tiuotfd at iho alHive Uojird, thereby oircriug lo
those desirous of
InvMting Money in Stocks
Facilities superior to any hurutuforo obtainable
Throntfli Tickets sold to and from and
Nltflit Kxehan Drawn
On all the princlpnl Kuropean cities.
Loans and Discounts tnado on Heal or Per
sonal security, on udvuntiureous tortus.
Colieetlnns nttendml lo thmuchout the United
Stntnand Uiltlili ProvliwM, and )iruin.t rttiuiii iuuU.
Ntitnry riililln mil rommiiMldiirr of IWrti for nil tlm
Stolen uuil IVrrllurk'S. fuiiveyauvhtii In nil it brautlirs.
A. 8. CROSS, Oenenil llroker.
Afiit i..r 1 in- Mute Due Sl-'iiniMiip fa.
Vtiol ol 8trk St., Port laud On-Ku,
71 Front Htrevt, - Portland. Ore iron,
IIIPOHTKH AVI1 WIIOT.1MAI.KUH or
DRUGS, PAINTS, OILS,
Sole Airen t a ftir Hie ' ,
AVERILL CHEMICAL PAINT.
& L. MARSH CO.,
Comer l'irst nnd Siark.
NEI MEYER & UTTER,
43 First Street.
' Tlie only fashionable Merchant Tail
111 Front St., I'ortluntl, Oregon.
Received by each Steamer.
HAOHENEY & STEMME,
Corner First and Taylor. Portland. Oregon,
Urnli'rs suit Julilwn In all kinds
FJKST CLASS GUOCKRIBS,
Produce, Etc., Etc
Full stock eotiHliuilly on hand.
Hoods delivered In tiny purl of the oily free
Call and examine our stock.
C..13. Hirstel & Co.,
IMrOBTKUH A DBALKBS lit
BOOKS i STATIONERY,
NOTIONS, TOYS, KTC, K'l'C.
Subscription, received fur alt Rnttcm 1'itblicatiniM
No. 77, Front 8t., Portlnnd, OroRon.
R2rlll,AiK II0IIKH M.IUK Tl) OlillKII.
Schwab & Anderson,
Stark Mroct Kerry I,iutdlii. nrKlrst Floor.
Kiitnuioe on Htark,
G EO. W7 VOLLU M,
Book Binder, Paper Ruler
No. b Washlnitlon Htreol,
fllank llooks made to
order, and ruled to any
Pound In any style with
Ktilitu iii liipilth,
At greatly reduood prices
OKO. V, IRAHN.
SEARS J- iriLMER,
Sale, Feed, Livery and
No. 31 Washington St., cor. Second,