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About Morning Oregonian. (Portland, Or.) 1861-1937 | View This Issue
THE MORNING 0B12G0NIAN, MONDAY, JANUARY 8, 1900.
The first -week of the new year drifted Into
the past with nothing -very unpleasant or noth
ing very good, from a commercial standpoint,
to Its credit. Buslnesa men are pretty busy
figuring up the profits for tne year that is past,
and are arranging for increasing them during
the year before them. This, -with the annual
etock-taklng and the disposition -which annually
asserts itself -with all men to buy as little as
possible this year, has rendered the commercial
situation for the past week devoid of special in
terest. "Wheat showed up with one day of
etrength, but was back in the old rut on the
second business day of the year, and has re
mained at low ebb since. Oats and barley are
sympathetically affected to a certain extent,
and there is but a. light cemand for them. Po
tatoes, -which have brought good prices all
through the season, are still holding firm, and
selling nt very remunerative prices, -with no
apparent limit to the demand. In fruit there
1b a little better demand for apples, and good
keeping varieties are Incoming scarce.
On account of the light offerings of poultry
for the -wools preceding New Tear's, the market
"was so thoroughly cleaned up that the com
paratively small receipts last -week -were speed
ily taken up at near the topjirioes of the sea
son. The butter market continues strong for
best grades, but -weak for -"strong" grades.
There Is a heavy overstock of common butter,
and as it Is drifting around to the season -when
California commences shipping considerable but
ter, the disposition of all of this store truck
Is causing some trouble for the dealers. Pork
Is Improving on a firmer feeling In the pro
vision market. Veal Is steady at former quo
tations. The ess market is unchanged at 20
cents for best Oregon ftock, -with Eastern prac
tically out of the market, except for cold-stor-Dge
"WHEAT "With the exception of a show of
strength last Tuesday, the -wheat market last
week -was devoid of Interest. In Chicago th
May option Is following In the footsteps of the
December option, and Thursday, Friday and
Saturday, successively, set a new record for low
prices for the season, the price going as low
as 68 Saturday, although the close -was a
Sractloa -above this figure. The European mar
ket continues -unchanged. The unjust differ
ential of 2 shillings per quarter in favor of Cali
fornia wheat is still demanded, although there
Is plenty of -wheat of the 3809 crop that la fully
equal to any that has been shipped in former
seasons. Either through lack of sense or some
other motive, certain parties are going to con
siderable trouble to circulate serious reports
regarding the crop -which Is now being market
ed. Mention was made of one of these stories
a few days ago, when an alleged authority on
wheat matters In general came out with a
printed statement to the effect that 4,000,000
bushels of the 1839 crop were unfit for anything
Locally, where th reliability or unreliability
of the statistician -who compiled these figures
is known, no attention was paid to the non
sensical statement, but it Is reported that copies
of these figures were sent to the wheat markets
In Europe, where they will probably be taken
eerlously, unless the truth regarding the mat
ter W forcibly presented to buyers abroad.
There Is considerable light wheat In. the coun
try, but no more than can be used In grading
lip with the heavy stock. As a matter of fact,
some difficulty was experienced by one export
ing firm last week In securing light wheat
enough to keep the standard of the cargo down
to No. 1 grade. Prices In the local market
last week were better proportionately than they
wore in other markets, a slight reduction In
freights giving buyers a chance to operate at
the old figures, in spite of further weakness in
the foreign market. Sales of "Walla "Walla
were made at C2 and 52 cents for No. 1, or
better, and as high as 53 cents was paid for a
lot for a special purpose. There was very
Jlttle Valley offering, and prices are unchanged
at 61 and 32 cents. Biuestem Is In nominal
demand at -63 to 54 cents. In freights there
was nothings-doing- in epot tonnage, but -one or
two fixtures of March-April ships were reported
st 37s Od.
"Until lately the grain trade has accepted the
official figures of the wheat crop of 1898 as ap
proximately correct. These figures showed the
largest crop ever produced here, 575,000,000
bushel The Cincinnati Price Current has
published a table Of Tvhcat crops, as officially
stated, and gives in a footnote the amount the
official statement 1b short of the facts accord
ing to the best Judgment of the trade. The
series of corrections began with 30,000.000 bush
els In 1890, and for some time stopped with
45,000,000 in 1897. Now 35,000,000 has been
added to the official figures for 1898, raising the
figures for that year to 710,000,000, nearly 100,
000,000 bushels more than in 1891, the largest
previous crop recorded.
This addition requires some readjustment of
the estimates of distribution; or, reversing this,
the ascertained and estimated distribution re
quires this addition of 35,000,000 bushels to
the crop figures. Of the elements of distribu
tion, the one known definitely is the export, and
the export of the fiscal year 189S surprised the
world by exceeding that of 189S. which was
very large, on account of the deficient crops
In Europe. The amount required for seed can
be pretty closely estimated; la the days of
hand-sowing It was a bushel and a half; In
these days of drills It is a bushel and a quar
ter. In a recently published magazine article
the amount required for seed was set down
as 70,000,000 bushels, but that Is more than
a bushel and a half an acre, and Is palpably
too nigh. On last year's average a bushel and
a quarter to the acre would be 55,740,625 bush
els. The fight has waxed hot over the per
capita consumption; the most common estimate
Is four and a half bushels, with the sugges
tion that this is decreasing with the Improve
ment of milling, which gets more flour out of
wheat. But four and two-thirds bushels must
be assumed to dispose of a crop of 710,000,000
bushels. On the figures ct the Price Current,
then, the supply and distribution must be taken
about as follows:
Surplus brought forward July 1, 189S. 40.000 000
Beed ., 55,000.000
Surplus July 1, 1899 130,000,000
The Price Current brings its computation
down to January 1, 1899, and 1900. and re
marks thaj the supply at the end of this year
will allow a surplus of 170.000,000 bushels
over all domestic requirements for the next
elx months, and allowing 50,000,000 for unavail
able reserves; 120,000,000 bushels would be
available for export. Instead of 93,000,000 last
year. The visible supplies reported by Brad
etreet's were close to 50,000,000 July 1 last,
and 21.000.000 the year before. Combining
these figures of old wheat bought over, already
given, the wheat in farmers' hands must have
been 19,000,000 bushels July 1, 189S, and 80,
000,000 bushels July 1, 1S99.
Banlc Clearing's Saturday, JTan. O.
Tacoma . 143,005
The bank clearings for the principal cities of
the Northwest for the week ending Saturday,
January 6, were as follows:
Portland. Seattle. Tacoma.
jaonaay- ........ ......... .......... ........
Tuesday $ 547.440 $ 450.853 $206,445
"Wednesday 452.1S0 355,490 185.657
Thursday 3S1.109 359,194 147.929
Friday S29.5SS 290,510 132,512
Saturday 245,960 274.041 143.005
...$1,956.2S3 $1,730,094 $815,548
The clearings for the corresponding weeks In
1S9S and 1699 were as follows:
Portland. Seattle. Tacoma.
1899 $1,893,012 $ 955.434 $ 628.433
1693 2,249,642 1,129.472 1,064,2S2
Grain, Flour, Etc
"Wheat "Walla "Walla, 52c; Valley, 51 - 52c;
biuestem, 6364c per bushel.
Flour Best grades, $2 653 per barrel; gra
ham, $2 CO; superfine, $2 15.
Oats "White, 3435c; gray, 3334c; stained,
9S30o per bushel.
Barley Feed, $1510; brewing, $18 IS 50
Mlllstuffs Bran. $17 per ton; middlings, $22;
shorts, $18; chop, $16.
Hay Steady; timothy, $9 50011; clover, ?7
8; Oregon wild hay, $fl7 per ton.
Butter, Eggs, Poultry, Etc.
Butter Fancy creamer'. 50 55c; eecondB, 42J4
45c; dairy, 3037ic; store, 22S127c per roll.
Eggs "Weak; 17&C for Eastern, 20o per dozen
Poultry Chickens, mixed. $2 5003 50; hens,
$44 50; springe, $2 50 & 3 50; ducks, $50;
geese, $79 per dozen; turkeys, live, 1314c;
dressed, 1517c per pound.
Game Mallard ducks. $3; widgeon, $1 502;
teal, $11 25 per dozen.
Cheese Full cream, twins, 1213c; Young
America, 14c per pound.
Vegetables, Fruit, Etc.
Vegetables Parsnips, $1; carrots, $1; turnips,
00c; onions, $11 10 per cental; cabbage, lc
per pound; potatoes, 5575c per cental; sweet
potatoes, 22'ic per pound.
Fruit Lemons, $33 50; oranges, $2 753
per box for navels. $2 for seedlings; tangerines,
00c$l per box; pineapples, $4 506 per doz
en; bananas, $2 50 3 per bunch; Persian
dates, 78c per pound: apples, $11 50; pears,
75c$l 25 per box; grapes, Tokays, 7585c;
cranberries, $6 507 per barrel for Ilwaco,
$7 75-9- for Eastern.
Dried fruit Apples, evaporated, T Sc per
pound; sun-dried, sacks or boxes, 45c; pears,
sun and evaporated, 50c; plums, pltless, 4
5c; prunes, Italian, 35c; sliver, extra
choice, 5 6c; figs, Smyrna, 22c; California
black, 50c; do white, 10c per pound.
Groceries, Nuts, Etc.
Coffee Mocha, 25c; Java, fancy, 28 29c;
good, 2225c; Costa Rica, fancy, 15c; good, 15
17c; Salvador, fancy, 1618c; good, 1215c per
pound. Boasted Columbia, $11 75; Arbuckle's,
$12 25; Lion, $11 75 per case.
Sugar Cube, $5 60; crushed, $5 60; pow
dered, $5 72; dry granulated, $5 10; extra C,
H 60; golden C, $4 47 net; half barrels, Ho
more than barrels; maple sugar, 15Q10c per
Salmon Columbia river, 1-pound tails, $1
1 50; 2 - pound tails, $22 50; fancy, 1 - pound
flats, $1 651 75; -pound fancy flats, 8593c;
Alaska, 1-pound tails, $1 201 30; 2-pound tails,
$1 902 25.
Grain bags Calcutta, $77 10 per 100.
Beans Small white, 3c; bayou, 4c; Lima, 0a
Nuts Peanuts, C7c per pound for raw, ICa
for roasted; cocoanuts, 90c per dozen; walnuts,
1213c per pound; pine nuts, 16c; hickory
nuts, 7c; chestnuts, 15c; Brazil, lie: Alberts, 15c;
fancy pecans, 1214c; almonds, 15 17o per
Coal oil Cases, 21c per gallon; barrels, 17o;
Rice Island, 6&c; Japan, 5c; New Orleans,
t&STG&c; fancy head, $77 50 per sack.
Meat and Provisions.
Mutton Gross, best sheep, wethers and ewes,
3c; lambs, 35i4c; dressed mutton, 67c;
lambs, 7c per pound.
Hoga Gross, choice heavy, $5; light, $4 50;
dressed, 45c per pound.
Beef Gross, top steers, $3 BO; cows, $30
3 50; dressed beef, (7c per pound.
Veal Large, 67c; small, 88c per
Provisions Portland pack (Shield brand):
Hams, smoked, are quoted at 12c per pound;
plcnlo hams. 8c per pound: breakfast bacon.
13c; bacon. 8c; backs, 8c; dry salt sides,
7c; dried beef, 20c; smoked sides, 8c per
pound; lard, 5-pound palls, 8c; 10s. 8c; 60a.
7?ic; tierces, 7c per pound. Eastern pack
Hammond's): Hams, large, 12c; medium, 12V4c;
small, lSJic; picnic hams, OVJc; shoulders, 9c;
breakfast bacon, 12o; dry salt sides, 88c;
bacon sides. 899ic; backs, Oc; butts, 8c; lard,
pure leaf, kettle rendered, 5s, 0c; 10s, 0c
Hops, "Wool, Hides, Etc.
Hops Sllc; 1898 crop, 56o per pound.
"Wool Valley, 1213c for coarse, 1518c for
best; Eastern Oregon, 8314c; mohair, 2730c
Sheepskins Shearlings, 1520c; short-wool, 23
35o; medium-wool, 30ff50c; long-wool, 60c$l
Pelts Bear skins, each, as to size, $515;
cubs, each, -$166; badger, each, 10gM0c: wild
cat, 2540c; housecat, 5 10c; fox, common
gray, 40fij0e; do red, $1 251 75; do cross, $2 50
6; lynx, $1 502 50; mink, 30c?$l 25; marten,
dark Northern, $48; do pale, pine, $1 253;
muskrat, 812c; skunk, 2540c; otter .(land), $4
6; panther, with head and claws perfect, $1
3; raccoon, 2550c; wolf, mountain, with head
perfect. $3 505l wolverine, $2 50Jj: beaver,
per skin, large, $67; do medium, per skin, $4
5; do small, per skin, $1(32; do kits, per skin,
Tallow o&SJSc; No. 2 and grease, 334c per
HidesDry hides, No. 1, 16 pounds and up
ward. 1515c; dry kip. No. 1, 5 to 10 pounds,
15o per pound; dry calf, No. 1, under 5 pounds,
15(g16c; dry salted, one-third less than dry
flint; oalted hides, sound steers, 60 pounds and
over, 89c; uo 50 to 60 pounds, 88c; do
under 50 pounds and cows, 76c; kip, 18 to 30
pounds, 78c; do veal, 10 to 14 pounds, 7c;
do calf, under 10 pounds, 7c; green (unsalted),
lc per pound less; culls (bulls, stags, moth
eaten, bady cut, scored hair slipped, weather
beaten or grubby), one-third less.
XEW YORK STOCK aiARKET.
Still Suffering1 From Continuation of
Berlin Account Liquidation.
.NEW YORK, Jan. 6. The stock market suf
fered today from a continuation of the liquida
tion for Berlin account. The volume of this
selling In New York was not formidable, but
the sentimental effect of It was decisive In driv
ing prices downward throughout the list, and
discouraging the buying of stocks. The further
decline in Interest rates in Berlin and London
precluded the explanation of money stringency
to account for the selling, and made it appear
that Its move was political. The friction be
tween Great Britain and German mail steam
ers was not left alone as an explanation, the
reported movement of Russian troops toward
the frontier of Afghanistan Arousing the appre-
nension or further embarrassments for Great
Britain. A leading authority on the sterllnc
market recorded his opinion that as long as the
Transvaal war continued, gold would continue
to go out from New York. The board of
trade's returns of Great Britain's foreign trade
for December, showing a decrease of over $23,
000,000 In Imports, and an increase of $5,300,000
in exports, taken in connection with the heavy
selling of securities in New York for London
account, goes to explain London's continued
control over the international exchanges, and
ability to draw gold at vllL
The lightness of the outward movement of
cotton from this country doo keeps up the rate
of sterling exchange. "While the selling for
foreign account was being executed there was
no disposition to keep above the London parity,
and pressure against some leading industrials,'
especially Sugar, was added.
"With the cessat!6n of the London selling and
the appearance of the bank statement, there
was an improvement in sentiment. Losses
were partly recoered, and the close was firm
on a good volume of business, the fact that the
surplus reserve -was maintained and even slight
ly Increased, In face of the gold export move
ment, and a loan expansion of $4,107,400, af
forded much encouragement over the domestic
The stock market moved m an irregular man
ner all week, and the motives of the operations
have not been by any means clear. The con
fusion Is largely due to the fact that profes
sional operators were closing up contracts to
which they had committed themselves In ex
pectation of the week's events. Such a move
ment now usually tends to nullify the influence
of the actual event when It occurs. Thus one
of the rules in stock exchange speculation Is
to buy In anticipation of the early January
demand, caused by released dividends and inter
est money seeking investment.
Last week's strength lti stocks was due very
largely to this anticipatory buying, and the
corollary of this buying would be selling to take
profits this week, when the dividend money be
gan to be disbursed. But while one set of
professional speculators s seeking to profit
by tiie buying of what "Wall street regards as
the outside public, there is always another set
aiming to make profit out of the first set them
salvea This week's event proved that very
heavy lines of Ehort contracts were put out last
week, on the theory that anticipatory demand
for stocks would prove to have outrun the real
demand this week, and the attempts to realize
would break the market and offer opportunity
to cover at profit.
This element has on its side the argument
that the recovery In prices from the level of
the. December panic had already outrun the
lin1 Thnnnrt fitter 1!H iHqnrKnniy rt-nA .Vin.
a reaction was due from the selling of stock
bought In the panic.
The 6hort sellers argued also that the money
market would not, show immediate relief after"
January 1, and that the return of disbursements
to the market will be retarded. Such speculat
ive commitments must be taken Into account to
explain the apparent contradictions In price
movements on new developments. The event
proved that the shorts miscalculated the extent
of the new Investment demand, and the relief
already afforded to the money market by last
months' drastic liquidations. Their operations
were mostly in the mercurial industrial spe
cialties, notably Sugar, and the demand to cover
shorts 'had caused some excited advances and
feverish fluctuations this week In that depart
ment of the list. In the railroad list, for the
most part, changes -were small, though business
was active and well distributed.
There was considerable selling to take profits
by last week's professional buyers, and there
was a steady stream of liquidation for foreign
account until the latter pare of the week. This
nas attributed to Berlin account, and was not
fully explained. The Berlin money quotations
had not shown a condition of stringency suf-i
flclent to force large liquidation, and alarming
rumors of political complications between
Great Britain and Germany were deprecated
at official sources, but the home demands for
securities proved sufficient to absorb offerings
and sustain the level of prices. The trunk-line
group was notably strong, led by New York
Speculative sentiment Is wot very clearly form
ulated as to prospect for values. Investment
considerations rule for the most part, and buy
ing orders of this character come In on any
reaction and serve as a support. " On any con
siderable advance In prices they show a falling
off. The high prices ruling throughout the in
dustrial and commercial world cause some,
questioning in "Waif street, where the recent
Bharp lesson from the consequences of price
Inflation has been taken to heart.
The growth of the proportions of operating ex
penses of railroads by reason of 'high-priced ma
terial in the monthly ' returns published are
impressive. The effects to ensue from the
advances In railroad rates now going Into force
on the volume of railroad traffic will be studied
In the light of complaints by shipping Interests.
The well filled order books In the departments of
the Iron industry give cohtldence In the exist
ence of continued prosperous conditions; but
tha future demonstration of the possibility of
profitable consumption of high-priced primary
prducts is awaited as an index of the dura
tion of the period of prosr-erlty.
The bond market has been less active than
stocks, the level of prices on present returns
offering fewer attractions than In stocks.
United States 3s, old 4s, new 4s and 5a ad
vanced in the bid price.
IT. S. 2s, reg.
Gen. Electric 5s.. .119
N. Y. Central lsts.108
North. Pacific lota.110
do 3s 05
do 4s 103
Oregon Nav. lsts. .110
do 4s 101
Oregon Short L 6sl30
Rio Gr. West. lsta. 95
St Paul consols... 107
St. P. C. & P. lsts.118
do 5s 118
Union Pacific 4s... 102
Wis. Central lsts.. 89
ao ds, reg
oo ds, coupon. ..11094
do new 4s, reg.,134Vi
do new 4s, coup.134
do old 4s, reg... 114
do 5s, reg 1134
do 5s, coupon. ...113
Diet, of Col. 3-653.119
Atchison adj. 4s.. 70
C. & N. "W. con. 7sl39 !
ao fc. F. deb. 5s. 118
D. & R. G. lsts. ..102
do 4s 97
The total sales of stocks today were -234,900
shares. The closing quotations were:
Atchison lOWIUnlon Paelfln aku.
dopref C0l do pref 74
Bait. & Ohio 50'
Can. Pacific 91
Can. Southern ... 49
ao prei 2.1
Wheeling & L. E.. 9
do 2d oref 27
unes. & Ohio 30
Chi. Gr. Western. 12
Wisconsin Central. 19&
nK. ""Tf w-v "iK
if. C, C. &. St. L.. 74
United States .... 45
Amer. Cotton Oil.. 33
do pref 00
Amer. Malting .... 7
do pref 29
"., 1UU, OS AJ.... 10
do pref 47
Chi. & East. 111... 90
Chicago & N. W..162
Chi., R. I. & P...100
C., C, C. & St. L. 63T
Colo. Southern ... 5V
do 1st Dref An
do 2d pref 14
uci. cc Jiuason....ii4
Del., Lack. & "W..176
Amer. Smelt. &. R. 36V,
uenver & Rio Gr. 17:
do Dref RS
uo prei 07
do 1st pref 32
Great North, pref.170
Hocking Coal 15
Hocking Valley .. 32
Amer. Spirits 2
do pref 17
Amer. Steel Hoop. 42
do pref 87
Amer. Steel & W. 40
do oref fl2
Illinois Central ...ni
Amer. Tin Plate... 31V.
Iowa Centra 12
do pref 80
Amer,. Tobacco ....102ft
Kan. C, P. & G.. 8-li
ao prer 13c
Anaconda. MIn. Co. 3D
Lake Erie & W... 23
ao prei .......
Lake Shore ..,.
Louis.' & Nash.
Manhattan El ..
Brooklyn R. T 72
Colo. Fuel & Iron.. 42
Cont. Tobacco 33
do pref 85
Met. St. Ry 175;
Mexican Central .. 11
Federal Steel 62
do pref 73
General Electric ..121W.
.oiinn. & at. ixmis 69
do pref S0
Missouri Pacific .. 40
Mobile & Oljlo.... soy.
Glucose Sugar .... 50
do pref 95
Int. Paper 23
M K. & T 9
do pref 32ft
New Jersey Cent. .115
New York Cent. ..130
do oref 67
La Clede Gas 7041
National Biscuit .. 36
do pref 86
Norfolk & "West... 23
National Lead .... 26
ao prei us
Northern Pacific .. 62
no pref 105
National Steel .... 42
do pref 73.
Ontario & West.. 21V
ao -prei Di5
N. Y. Air Brake... 122
North American ... 14
(Pacific Coast 57
"do 1st pref 84
I do 2d pref 64
Pacific Mall 44
People's Gas 103
Pressed Steel Car. 55
do prpt 85
Pullman Pal. Car. 187
Stand. RoDe & TwT 0
do praf 76
Pennsylvania .... 131
.Heading 17 &
do 1st pref 51
do 2d pref 27
Rio Gr. "Western.. 35
do pref SI !
St. Louis & S. Fr. 9
do 1st pref OS
do 2d pref 32
St. Louis & S. W. 10W do pref 115
do pref 24ITenn. Coal & Iron. 84
St. Paul 117
do pref 172
St. Paul & OmahallS
Southern Paclflo .. 30
Southern Ry 11
do pref 53
Texas & Pacific... 15
U. S. Leather 10'
do pref 74
U. S. Rubber 42
do pref 104
Western Union ... 87
Republic Iron & S. 21
do pref 60
Money, Bxcnnngre, Etc.
SAN FRANCISCO. Jan. a Sterling on Lon
don. 60 days, $4 82; do sight, ?4 8S.
Silver bars 59c.
Mexican dollars 1848c.
Drafts Sight, 12c; telegraph, 15o.
NEW YORK, Jan. 6. Money on call, easier,
3 per cent; prime mercantile paper, 6 per cent;
sterling exchange, steady, with actual business
In bankers' bills at $4 87 for demand, and
at $4 834 83 for 60 days; posted rates,
$4 83 and ?4 8S; commercial bills, $4 81
Sliver certificates 5SC9c.
Mexican dollars 17c.
Bonds Government, strong; state, steady;
LONDON, Jan. 6.-:onsols, 06.
Foreign Financial 'Sews.
NEW YORK. Jan. 0. The Commercial Ad
vertiser's London financial cablegram says:
There was heavy renewal today of the Berlin
liquidation, accompanied by political rumors In
connection with the capture of German vessels
bound for Delagoa hay. and the Russian move
ment of troops In Afghanistan. Nothing au
thentic was given out. Americans suffered
most, but other Continental centers sold special
ties. The London market was dead, simply
allowing foreign sales to depress prices. The
Bank of, England bought 150.000 gold In eagles
and 11.000 In German coin. Money was
superabundant and bills were Idle. The board
of trade return for December shows ImportB
down 10.2, but an Increase for the year of 3.1.
Exports for the month are up 2, and for the
year Increased 0.4, the latter figure excluding
London Stock Mnrltet.
LONDON. Jan. 6. Canadian Paclflo, 93;
Union Pacific preferred, 76; Northern Pacific
preferred, 74; Atchison, 19; Anaconda, 6;
Grand Trunk, 7.
NEW YORK FINANCES.
Dtmlcs Contnne io Gain Slowly in
Cash. Holdings and Reserves.
NEW YORK, Jan. 6. The Financier sayo:
The New York banks continue to gain slowly
In cash holdings and surplus reserves, despite
the drain made upon them In the way of gold
exports. The clearing-house Institutions re
port at the end of the week just ended $589,650
excess cash alwve the amount held at the
opening of the year, the surplus reserve stand
ing at ?11,757,725. The expansion for the Blx
days ending Saturday Is of more than ordinary
Interest, since It was mde In the face of an
Increase of nearly $0,000,000 of deposits, which,
of course, tied up about $2,250,000 of money
in additional reserve requirements.
The gain In cash was $2,810,000, of which the
greater part was In the form of legal tenders,
due to receipts from the Interior. Loans are
$4,107,600 higher. The annual dividend dis
bursements at this center have doubtless af
fected the statement, and a detailed analysis
shows that there have been some unusually
heavy changes In totals of larger banks; but,
viewed in all lights, the exhibit is to be con
sidered very satisfactory. The Interior move
ment In particular Is assuming larger propor
tions than had been expected. During January
of lost year, the banks gained weekly something
like $7,000,000 In. cash; the surplus reserve
rising between the opening and the close of
the month about $20,000,000.
The gain so far thjs year hna been. propor
tionately heavy, but the exports of gold, of
course, 'operate to keep the excess cash at a
low figure. Still, the banks are more .than
holding their own, and are demonstrating an
element of strength which must be looked upon
as gratifying. Under the circumstances the
outlook favors a rate for funds not materially
different from that now prevailing. How long
exports are to continue Is an uncertain prob
lem, but as conditions governing the outflow
of gold are entirely favorable to the "United
States, both in Inception and results accruing,
the Incident of exports is not viewed with any
degree of apprehension.
Present operations are in the nature of
loans to Europe If the return statement Is
made In the form of an American security, the
United States has only added to its wealth
and canceled a certain percentage of yearly In
terest now remitted abroad.
The weekly bank statement Is as follows:
Surplus reserve, increase $ 5S0.650
Loans, Increase 4,105,000
Specie, Increase 504,800
Legal tenders, Increase 2,300,400
Deposits, increase 8,062,200
Circulation, Increase ,101.400
The banks now hold $11,757,725 In excess' of
THE GRAIN MARKETS.
Prices for Cereals in European and'
SAN FRANCISCO, Jan. a Wheat, easy. Bar
ley, quiet; spot wheat and barley, dull, un
changed. Oats, quiet, unchanged.
Spot quotations were:
Wheat Shipping, No. 1, 0So; choice, $1;
milling, $11 02. , '
Barley Feed. 6S-J3Tlc: brewing. 8085c.
Oats Gray. Oregon. '$1071 12; milling,
$1 151 17; red, $1 121 20.
Call board sales:
Wheat Easy; May, $1 04; cash, $1.
Barley Quiet; May, ,70c.
Corn Large yellow, $1 021 10.
Chicago Grain, Produce, Etc.
CHICAGO, Jan. 0. May wheat opened at
63,C9c. a shade over yesterday's close, which
advance was lost almost lnvrfiedlately, being ac
counted for by unseasonably moist weather 1ft
the Middle West, and the fact that Liverpool
decline was less than the Iocs here yesterday.
Longs, however, discouraged by the poor ex
port business and the large etocks, particularly
In the Northwest, began selling at the opening,
and kept It up throughout the session, with
their ranks reinforced by most of the scalping
fraternity. The buying was nearly all against
puts. Dullness characterised the session. May
sunk to 6Sc, but near the close advanced on
buying against provisions and closed weak,
c under yesterday, at 6S6Sc.
Corn was easy with wheat, but closed a shade
under yesterday for May.
The usual Saturday dullness was shown In
the oats market. Fluctuations were very nar
row. May closed rather easy, c lower.
Provisions, after a period of despondency over
receipts of hogs, which were somewhat larger
than expected, steadied later and held to the
close. May pork closed 7c over yesterday;
May lard a shade under yesterday, and May
The leading futures ranged as follows:
Opening. Highest. Lowest,
January $0 65V4 ?0 65ft $0 ('
May os- ty
July 69 69
May . . .
.10 7Q JO 85
May 5 02 5 95
SHORT RIBS. f
January 562 5 62 'C60' 5 60
May 570 5 75 5 67 5 75
Cash quotations were as follows:
Wheat No. 3 spring. 6266c; No. 2 red,
Corn No. 2, 30c.
Oats No. 2, 2223c; No. 2 White, 25,
25c; No. 3 white. 2425c.
Rye No. 2, 52c ' ' ,
Barley No. 2; 3842c.
Flaxseed No. 1. $1 51.
Timothy seed Prime, $2 35.
Mess pork $9 2510 60 per bbl. 4
Lard-$5 655 82 per cwt.
Short ribs Sides, loose. $5 605 75. '
Shoulders Dry salted, boxed, $5 505 73.
Short clear sides Boxed, $5 755 80.
Butter Firm; creamery. 2229c; dairy, 17(3
Cheese Firm,, 1212ci ,
Eggs Firm; fresh, 20c. ,
. , Receipts. Shipments
Flour, barrels 308,000 33,000
"Wheat, bushels' 51,000 138,000
Corn, bushels 433,000 ' 91,000
Oats, bushels 251,000 144,000
Rye, bushels 3,000 4,000
Barley, bushels 62,000 38,000
New Yorlc Grain, Produce, Etc.
NEW YORK, Jan. 6. Flour Receipts, 17,880
barrels; exports, 15,092 barrels. Market, quiet
and steady; Minnesota patents, $3 85(3J4 00;
winter straights, $3 403 45.
Wheat Receipts, 29,600 bushels; exports, 4740
bushels. Spot, steady; No. r red, 75c f. o. b.
Options opened steady, but promptly sold off
under bear pressure at the West, lower cables,
further local unloading and free sales for short
account. Bullish Ohld crop news and a break
in consols had little or no effect. Later the
market was dull, closing iveak, c decline.
March closed at 75c; May closed at 74c;
July closed at 74c.
Wool Dull; domestic fleece, 2120c.
Hops Quiet; Paclflo coast, 1800 crop, 60;
1898, 79c; 1890, 1214c.
European Grain Markets.
LONDON, Jan. 6. Wheat Cargoes off coast,
quiet and steady; cargoes on paseago, nominally
unchanged; No. 1 standard California, 29s 6d.
LIVERPOOL, Jan. a Wheat Dull; wheat
In Paris, dull; flour In Paris, weak. Futures
closed steauyj March, 5s 10d; May, 5s lOd;
spotPfffilT? No 1 California, 6s 3d6s 3d; No.
2 red Western winter, 5s 3d; No. 1 Northern
spring, 60 ld.
Corn Spot, American mixed, new, 3s 6d; old,
3s 6d. Futures, steady; January, 335d;
February, 3s 5d; March, 3s 5d.
Hops at London Paclflo coast, Arm, 3 10s
SAN FRANCISCO MARKETS;
SAN FRANCISCO, Jan. 6. Wool Spring
Nevada, 1215c per pound; Eastern Oregon, 12
16c; Oregon, valley, 2022c. Fall Northern
mountain, 1012c; mountain, 810c; plains, &g
10c; Humboldt and Mendocino, 1516c
Hops 1890 crop, ll12c per pound.
Mlllstuffs Middlings. ?1610; bran, $12 BOO
13 30. per ton.
Hay Wheat, $0 509 50 per ton; wheat and
oat. $6 509; barley, $57; alfalfa, $67 50;
clover, $78 per ton; straw, 3045c per bale.
Potatoes Early Rose, 8500c; river Burbanks,
50S5c; Salinas Burbanks, $1 1 25; Oregon
Burbanks, 80c$l 25 per sack; sweets, $1 50
1 60 per cental.
Onions Yellow, 7585c per sack.
Citrus fruit Mexican limes, $45; common
California lemons, 75c$l 50; choice, $1 750J
Tropical fruit Bananas, $1 50 2 50 per
bunch; pineapples, nominal.
Apples $11 25.
Butter Fancy creamy, 26c; do seconds,
2425c; fancy dairy, 2123c; do seconds,
1820c; pickled, 2224c; flrkln, 2122c per
Cheese New. ll12c; Eastern, 1017c per
pound; Young America, 1213c; Western. 1314
Eggs Store, 2831c; Eastern, cold storage,
1620c; ranch, 39c per dozen.
Receipts Flour, quarter sacks, 4504; wheat,
centals, .1600; barley, centals, 4205; beans, sacks;
450; corn, centals, 375; potatoes, sacks, 1255;
onions, sacke, 290; bran, sacks, 2070; hay, tons-,
299; hides, 3117.
CHICAGO. Jan. 0, Cattle With a gain of
8500 In the week's receipts, prices averaged
higher; good to choice, $5 356 60; poor to
medium, $4 205 10; mixed Blockers; $33 75
n. Bishops Plllft
of self-abuse, dissipation, excesses, or dgarette-saoklng.
blllty, Headache,UnfItne8a to Marry. t.psa of
or cdn8ilpatonr Stops Qulckrios ,of I?l3-
VOU8.TwltCnlnE Of EyelldS, Effects aro Immediate.
155 Of Eyelid
at get aeiponae
ererv fbnetlon. BonF vet deiDondnt. &
organs. Stimulates the brain and nerre centers. 50c a box,
ggmBcyrcmagcq, mm pppc. -ucuiars irec. Mares3(sianop.K8meay uo., Ban rranciocoj wau
For sale by Woodard, Clarke & Co., Portland, Or.
CULLISON '"& CO,
DIRECT WIRES TO
S, S. GEO. W. ELDER,, S! S..
The above first-class steamers will sail every 10 days
during- the season for Cape Nome, York and St. Michael
and Yukon river points.
First Seiiiog9 May 15
FOR RATES AND INFORMATION APP. LY TO
F.' P. BAUMGARTNER, 253 Washfngtori St.
GRAY '& MITCHELI General Agenia, San Francisco.
selected feeders. $4 204 90; good to choice
cows, $3 004 90; heifers. $3 505; canners,
$2 253; bulls. $2 604 50; salves, $47 50;
fed Texas beeves, $4 103S 50.
Hogs Steady; closing shade stronger; top,
$4 62; good clearances; mixed and butchers,
$4 255 50; good to choice heavy, $4 404 52;
rough heavy, $4 204 33; light, $4 204 42;
bulk of sales, $4 S74 45.
Sheep and lambs Steady, good clearance; na
tive Wethers, $4 405 05; lambs, $4 506 25;
Western wethers, $4 23Jp4 73; lambs, $5 50
Receipts Cattle, 4000; hogs, 26,000; sheep,
OMAHA. Jan. 6. Cattle Receipts, 300. Mar
ket, steady; native beef steers, $4 206; West
ern steers, $44 80; Texas steers, $3 75Sll 40;
cows and heifers, $3 704 40; canners. $1 755fS;
stockers and feeders, $3 004 00; calves, $3 50
7 bulls and stags, $2 804 25.
Hogs Receipts, 8000. Market shade to 5c
lower; heavy. ?4 274 37; mixed. $4 32
4 85; light, $4 354 40; bulk o'f salesr$4 35
Sheop Receipts, 1C0O. Mark firm; fair to
choice Westerns, $4g4 60; common and stock
sheep, $3 804 "30; lambs, $4 505 80.
KANBAS CITY, Jan. a Cattle Receipts, 200.
Market steady, unchanged.
Hogs Receipts, 7000. Market -steady; bulk of
sales, $4 354 40; heavy, $4 324 45; pack
ers, $4 354 40; " mixed, $4 30g!4140; lights.
$4 154, 40; Yorkers, $4 304 40; "pigs, $44 30.
Coffee and Sugar.
NEW YORK, Jan. 6. Coffee options closed
steady, with June 5 points lower, and other
months unchanged to 5 points higher; sales,
24.000 .bags. Including January, $6 30; March, l
.$6 406 45; May, $6 506 CO; spot. Rio, strong;
No. 7 Invoice, T 7-16c; No. 1 Jobbing, 7 13-16c;
'Sugar Raw, Arm; fair refining, 3 l-16c; cen
trifugal, 96 test, 3o; refined, steady; granu
lated, $4 D3; cut loaf. $5 35.
The Metal Markets.-
. .NEW YORK, Jon. a Lake copper, brokers'
price, $16 50; lead, $4 45. bar sliver, 59c.
SAN FRANCISCO, Jan. a Bar silver, 59c.
LONDON, Jan. 6. Bar sliver. 27d.
Vlnum "Viruxnake Cano.
' ' Buffalo Commercial'.
'There Is absolutely no substance In the
falfc of an 'armed invasion of Canada by
hostile organizations from the United
States while Dominion, volunteers are in
South Africa. A ' couple of long-range,
warriors, a couple of drinks and a reporter
that would be the residuum revealed by
an analysis of any current yarn about
Fenian invasions. '
"Do you know," said the man In the gray
ulster, "that police statistics show a total
of nearly 20,000 persons who are reported
missing- every year.?"
"I'll le "more "tbap .half, of them aren't
mlssed&t all. They only think they are,"
responded the pessimistic man.
In all stages of
there should be cleanliness.
Experience proves that
Ely's Cream Balm
is a cleanser, soother and
healer of the diseased mem
brane. It cures catarrh and
a cold In the head vanishes
Cream Balm is placed into the nostrils,
spreads over the membrane und la abtorbtd.
RelUf Id Immediate and a cure follovro. It Is
not drying does not produce sneezing. Larg
Bixe. 80 centa at Druggists' or by mail; Trlsl
Bit. 10 cents by mail.
RI.Y BROTHERS. 5 WArrn Rtret. NwYnrk
Proof: It used to take a month to
moke the trip from Portland to St.
Nowadays, If you go via the
Burlington, it takes only a little
more than three days.
Items that help make the journey1
'comfortable are: Through tourist;
cars, Seattle to Kansas City. Mon
days and Thursdays; choice of three
routes via Denver, St. Paul and
Tickets and berths at
Ticket Office, 100 Third St.
A. C. SHELDON,
R. W. FOSTER,
. Ticket Agent.
GEO. S. TAYLOR,
City Passenger Agent,
100 3d St., cor.. Stark, Portland, Or.
hare been ia usa orer 50 years by the leaders of the Mormoa
cures the worst cases In old and younj arU!n from effects
uurec s-asr. mannooa, im-
iiunm. fcunio. aqum "iiiiuua
charge, atopo Pior-
Imparrvieor ana potency to
mi? (1 at hand. f?.T:J.I33 Restored smill. imriAreloned
6 Sr $3 50 by mall. miiMsFii A-wrltten guarantee, to curs
1 9 .
New York Stock Exchange
Chicago Board of Trade
CHAMBER OF COMMERCE
, o ooeoeoooooocoooooooo
i .1 ,w- nW'i.ri -rati' i-m1 Jaen
aaw v'JL Jt
THE FASTEST AND MOST
- IS THE
The Direct Line to Denver, Omaha,
Kansas City arid St. Louis.
Only 3 Days.to Chicago,
Only 4' Days to New York and
other Principal Eastern cities
Thronsrh Pallman Palace Sleeper
Dlnliijr Cars (lueals u la carte), and
Free Recllnlnjr Chair Cars
Operated Daily on Fast Mall Trains
Through tickets, baggage checks and sleeping,
car accommodations can be arranged at
CITY TICKET OFFICE
135 Third Street Portland, Oregon
J. H. LOTHROP.
City Pass. & Tkt. Agt.
THE DINING CAR ROUTE FROM PORTLAND
TO THE EAST.
THE ONLY DIRECT LINE TO THE. YELLOW.
- STONE PARK.
Union Depot, Flft!i and I Sts
Ifast mall for Taco
ma. Seattle. Olympla.
Gray's Harbor and
South Bend points.
Spokane, Rossland. B.
11:15 A. M.
C. Pullman. Moscow.
5:50 P. M.
Hump mining- country.
St. Paul. Omaha. Kan
sas City. Sc Louis.
No. 4. ,
11:30 P. m!
Chloago and all polnu
east and southeast.
Puget Sound Express 7":00 A. M.
for Tacoma and Seattle
and intermediate palnts-
Pullman flrst-class and tourist Hleepers to Min
neapolis, St. Paul and Missouri river points with
Vestlbuled trAlns. Union depot connections la
all principal cities.
Baggage checked to destination of tickets.
For handsomely Illustrated descrlptlvaf matter,
tickets, sleeping-car reaervatlooV etc, call oa or
h ' " - -
Assistant General Passenger Accnt,
25C Morrison St., Cor. Third,'
COLUMBIA RTVEft' & PUGET SOUND NAVT.
ovcnoN-TO; - -
PORTLAND AND ASTORIA.
BAILEY GATZERT (Alder-street ducx)
Leaves Portland daily every morning at 7
o'clock, except Sunday. Returning, leaves As
toria, e"very night at 7 o'clock. xcept Sunday.
Oretbn'phorieJMaia 351. Caltirhbia phone 331.
vr ,,? U. B. SCqTT. president.
Ticket Office: 122 Third St. 'Phone OS0
No. 4 ,
3: P. M.
Tb Flyer, dally to and
from St. Paul. Minne
apolis, Daluth. Chicagr
and -all 'pqjnts East.-
Through Palace and Tourist Slespe'rs, DtiLn
and HutEet Smoklng-Llbrary Cars. 1
For Japan. China and all Asiatic points Trill
ABOUT JANUARY 20.
VANCOUVER TRANSPORTATION CO.
Steamer Undine, -Captain Charles T. Kamm,
leaves Vancouver at 8:30 A. M. and 1 P. M.
Leaves. Portland at 10:30 A. M. and, 4:30 P. M.
Sundays excepted, For freight or paaaag ap
ply oa board, foot of Taylor street. Round trip,
TWO TRAINS DASLY
FOR ALL POINTS EAST
"FAST 3IAIL AND PORTLAND - CHI
CAGO SPECIAL llOUTE."
Leaves for the East via Spokane daily at 3:43
P. M. Arrives at &.A. M.
Leaves for the East. via. Pendleton and Hunt
ington, daily at S P. 1L Arrives, via Hunting
ton and Pendleton, at 0:15 P. M.
THROUGH PULLMAN AND TOURIST
Water lines schedule suojact to change- with'
out notice :
OCEAN AND IUVER SCHEDULE.
OCEAN DIVISION Steamships sail front Alns
worth dock at 8 P. M. Leave Portland Colum
bia sails Tues.. Jan. 2; Fri.. Jan. 12. Mon..
Jan. 'Si, Thurs.. Feb. 1. State of California
satis hun. Jan. 7; Wed., Jan. 17; Sat., Jan 2j
Tue3., Feb. 8.
From San Francisco State of California sails
"Wed., Jan. 3; Sat.. Jan. 13. Tues., Jan. 23;
Frl., Feb. 2. Columbia sails. Mon., Jan. o;
Tnura.. Jan.,18; Sun., Jan. 2S.
COLUMBIA RIVEK DIVISION.
PORTLAND" AfcD, ASTORLV.
Steamer Hassalo leaves Portland dally, except
Sunday, at & P.. 1L; on, Saturday at lu P. M.
Returning, leaves Astoria dally, except Sunday,
at 7 A. M.
WILLAMETTE RIVER DIVISION.
PORTLAND AND CORVALLIS. OR.
Steamer Ruth, for Salem, Albany. Corvallls
and way2 points, leaves. Portland Tuesdays.
Thursdays and Saturdays, at 6 A. M. Returning.
leaves Corvallls Mondays iWitdnesaays and Fri
days' at 0 A. M. i?Z j
bteanier Modoo forA6alenv and way points.
Ies.vcs J'orUund MiSfidajSi.'wYrfcanesaays and b ri
daya at 6 A. M. Rfecurnlnjr. leases aalem Tues
days, Thursdays andSUtuoays at 0 A. M.
PORTLAND AND DAYTON. OR.
Steamer Elmore, for Dayton and way points,
leaves Portland Tuesdays, Thursday and Sat
urdays at 7 A. M. Returning, leaves Dayton for
Pomand and way points Mondays. Wednesday
and Fridays at U A. M.
SNAKE RIVER ROUTE.
RIP ARIA. WASH.. AND LEWISTOtf, IDAHO.
Steamer Spokane or steamer Lewlston leaves
Rlparla dally at 1:20 A. M., arriving at Lewlston
at 12 o'clock noon. Returning, the Spokane or
Lewlston leaves Lewlston daily at $!& A. M.
arriving at Rlparla. same evening.
W. H. HURLBURT.
General Passenger Agent.
V. A. SCHILLING, City Ticket Agent.
Telephone Main 712.
CHINA AND JAPAN. FROM PORTLAND,
In connection with THE" OREGON RAILROAD
& NAVIGATION CO. Schedule. 1300 (subject ta
Steamer Leave Portland.
QUEEN ADELAIDE ......... .. Oct. 3
MONMOUTHSHIRE Nov. 13
ABERGELDIE Dec It
For rates, accommodations, etc.. apply to
DODWELL & COMPANY. Limited.
General Agents, Portland. Or.
To principal points In Japan and China.
Leave Dipot FjftlPMJ I Slrt:tJ j Arrive
for Salem, Rose
burs. Ashland. Sac
San Francisco. Mo
Jave, Los Angeles
El Paso. New Or
leans and the East.
(dally except Sun
day), morning train
connects with train
for Mt. Angel. SII
v e r t on. Browns
ville, Sprfnijtl e 1 d
and Natron, and
evening train for
ML Anel afid Sil
7:00 P. M.
9tl3 A. M.
7:00 P. M.
117:30 A. M
l4:30 P. M
HlB0 P. M.
S:23 A. M
Dally. UDally except Sunday.
Rebate tickets on sale between Portland. Sac
ramento and San Francisco. Net rates 317 first
class and $11 second class, including sleeper.
Rates and tickets to Eastern points and Eu
rope. Also JAPAN, CHINA. HONOLULU and
AUSTRALIA. Can be obtained from J. B.
KIRKLAND. Ticket Agent. 134 Third St.
Passenger Depot, foot of Jefferson Street.
Leave fcr Oswego daily at 7:20. 0:40 A. M.;
12:30. 1:53. 1-23. 5:15. U:25, 8:03. 11:30 P. M.;
and 0:00 A. M. on-Sundays only. Arrive at
Portland daUy at 6:33.S:30. 10:30 A. M.;
11:33. 3:13. 4:30. 0;20. 7:40, 10:00 P. M.; 12.40
A. M. dally, except -aionaay; hmo ana 10:03 a.
M. on Sundays only.
Leave fur Sheridan dally, ''except Sunday, at
4:30 P. M. Arrive at Portland at 9:30 A. M.
Leave for Alrlle Mondays. Wednesdays and
Fridays, ft 8:33 A. M. Arrive at Portland
Tuesdays. Thursdays and. Saturdays at 3.32
SOO PACIFIC LINE
Offers the LOWEST RATE3 and BEST 8ERV
Ice to and from, all Eastern points and, Europe.
Through tour.st cars from, coast to St. Paul.
Toronto. Montreal and Boston .WITHOUT
Direct Route to
Kootenay Mining District
Canadian Pacific rrjsl 124II Jttuaraiji Unas U
Japan ani Au:rat.a
Fcr rales and Information, apply to
H. H. ABBOTT. Agent.
E. J. COYLE. 140 Third street; city.
A. G. P. A.. Vancouver!. Bw.Cifl "'
Pacific Coast Steamship Co,
THE COMPANY'S elegant
steamers Cottage City, city
of Topeka and Al - Kl leavo
TACOMA A. M.. SEATTLE 9
A. M.. Jan. 5, 10, 13. 20, 23.
30; Feb. 4. 0. 14. 10. 24.
Mar. 1. and every fifth day
thereafter. For further Infor
mation obtain company's' folder.
The companv reserves the right to chanio,
steamers, sailing da tea and hours of sailing
without previous notice.
AGENTS N. POSTON, 249 Washington ..
Portland. Or.: F. W. CARLETON, N. P. R. R.
dock. Tacoma: J. F. TROWBRIDGE. Puget
Sound Supt.. Ocean dock. Seattle.
GOODALL PERKINS & CO.. Gen. Agts.. ,3. F.
Astoria & Columbia
River Railroad Co.
For Maygers, Rainier,
Clifton, Astoria, War-
renton, FlaveU Ham
mond. Fort Stevens,
uearnart Park. Seaside.
Astoria and Seashora 11 :13 A.M.
7:C0 P. M.
Ticket office. 235 Morrison st. and Union dtpot.
J. C MAYO. Gen. Pass. Agt., Astoria;. Or.
e - 1 1 ' "'
Union Depot, Sixtlt and J Streets.
lfl SUNSET -n
O CCCEM& SHASTA