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About Morning Oregonian. (Portland, Or.) 1861-1937 | View This Issue
THE MORNING OKEG0NIAN, THURSDAY, FEBRUARY 28, 1901.
GOMMERGIAL AND FINANCIAL NEWS
"With the wheat market as flat as a
flounder, and wool unsalable at anything
like the prices expected by growers, the
shortest month of the year is drifting out
to slow music. "Warehouse receipts on
both of these commodities are still as
good as the regular coin of the realm, but
holders buy with caution so long as they
are carrying the product of their flocks
and llelds without an accumulating gain
in value. Potatoes and onions have helped
matters some in the country near by
Portland, the former advancing fully 10
cents per cental, while onions are soar
ing up near to record figures. In smaller
products there is considerable firmness in
poultry, veal and pork, all of which are
selling at the best prices of the season.
The egg market has held around 14 cents
for nearly a week, and for anything that
is sold Tn this city, this figure is still ob
tainable in small lots, as it permits the
retailer to sell at 13 cents. For shipping
to outside points, however, a concession
of from M to 1 cent per dozen is made.
OrVgon apples are still in 'good supply,
and for fancy stock good prices are real
ized. The grocery markets are steady,
with no changes in prices. Flour is weak
in sympathy with wheat, but oats and
barley are steady at quotations.
"WHEAT The greater part of the wheat
that has changed hands during the past
week has been sold to millers, and as
even the demands of the latter are very
moderate on account of the demoralized
flour trade In the Orient, the business is
on a restricted scale. The prices war
ranted by the European markets are not
sufficiently attractive to induce holders to
let go, unless they are so situated that
they must sell, for whatever is offered. A
choice grade of "Walla "Walla for milling
will command better than 56 cents, but for
export no one will quote over 53V4 cents.
The freight situation remains unchanged.
There is very little tonnage offering, and
owners have not yet got down below 40
shillings for anything this side of April.
Some new crop tonnage is offering, but
It is held at rates which exporters do not
care to pay. The longest shot thus far re
ported is a January, 1901. ship at 37s 6d,
but this was done when the spot situa
tion was firmer, and it is very doubtful
about Us being obtainable again for at
least several weeks, when something more
definite can be learned regarding pros
pects for the coming crop. The weather
continues highly favorable for the grow
ing crop, and. unless a March frost inter
feres with matters, it will have a very
early start. The foreign crop conditions
are on the whole favorable, so much so.
that they are having a bearish effect on
the market. The Argentine Republic, in
spite of the reports of a crop but little
over half as large as that of a year ago,
continues to put out enormous shipments,
and these aid in making a weak market
weaker. The American visible is still very
ponderous, but European stocks are not
unwieldy. They are so moderate, in fact,
that such an eminent authority as H.
Rider Haggard declares that wheat in
Liverpool would advance to $3 per bushel
within 10 days after a declaration of war
between England and any of the big
powers. Mr. Haggard's forte is romanc
ing, however, and his bullish prediction
may not carry all the weight that It oth
erwise might. There are other eminent
English authorities, however, who are of
the opinion that the cereal is in line for
a "boost" and the Corn Trade News,
under date of February 15, says:
It is likely, we believe, that both France
and Germany will be active buyers of
foreign wheat in the concluding weeks of
the present season, which,, will help tp
bring the figures into line with expecta
tions. There is no doubt but that the
revival of the past few days upon the
Continent is due to the Increased likeli
hood of the proposed measures for rais
ing the price of wheat ultimately be
coming operative. French and German
Importers in ant'eipation of the fiscal
changes, may some day enter the mar
ket and stock up in a wholesale man
ner. WOOL No sales of wool of any im
portance have been reported for the past
week, and the market remains in a very
weak condition, with a strong probability
that lower prices will prevail before the
opening of the new season. Mohair is In
worse shape than wool, and Eastern
-dealers are refusing to put out figures un
til the market settles. The mohair clip
In this state will be much larger than ever
before, and growers are Inclined to be
gloomy over the outlook. The unsatisfac
tory condition of the Eastern wool market
is thus set forth by the Boston Herald:
Prices are still unsatisfactory: In some
cases very unsatisfactory. Owners of
wool In some instances have come to
the point where money must be had, and
they have met manufacturers with offers
to sell wool that have tempted them to
buy. In some Instances these offers have
hurt prices a good deal, for they have
heen used to break down the Ideas of
other holders of wool. The other holders
have felt that they must have some of
the trade that was passing, and they have
been constrained to beat the other low
prices, in order to secure the trade. It
is very plain that at the rate manufac
turers are running there is not trade
enough for all, and in the struggle for
trade, prices have declined.
POTATOES AND ONIONS Every
steamer sailing south carries from 2000
to 5000 sacks of -potatoes for the San Fran
cisco market, and the rail shipments are
also heavy. The California market has
Improved slightly, and there has been &
corresponding advance locally, and, dur
ing the week, as high as 65 cents was paid
for fancy Burbanks, although the greater
part of the stock goes at less money, most
ly around 60 and 55 cents. Onions have
been booming, but the high prices paid
brought out such liberal offerings that the
price received a temporary setback a few
days ago. The best stock is now held at
?4 per cental, and there Is nothing ob
tainable under $3 per cental. Holders ex
press the opinion that the temporary
weakness will be followed by an advance
which will carry the price above $5, as It
is still two months before there will be
any California onions In the market.
BUTTER Steady with supply and de
mand about equal, and most of the cream
ery selling at 50 cents, exccpt for some
select brands with an established trade.
These are bringing 55 cents, not because
they are worth any more than the other,
but because dealers succeed In securing It.
The California market continues weak,
and some of the surplus stock from the
south Is still dumped on this market.
Store butter is weak in price, principally
because the greater part of the receipts
are strong otherwise.
EGGS For single case lots. 14 cents is
generally quoted for eggs, but stocks are
accumulating, and when they are shipped
to outside markets it is necessary to cut
prices in order to work 'business. Sales
were made yesterday as low as 1313V
cents. They will hardly go much lower
without bringing the cold-storage men Into
POULTRY But few chickens have
been received this week, and the . price
is firm In consequence. Best coops will
readily command ?5 per dozen, and mixed
in fair condition soil at $3 50 and $4 per
dozen. Ducks are In good demand on ac
count of the Chinese festivities, but geese
are not wanted at very high figures. The
demand for turkeys is nominal. Dressed
will sell In a limited quantly at 14 and 15
rents, and live at 10 and 11 cents.
Portland $213,107 $ 33.545
Grain, Flonr, Etc.
Wheat "Walla "Walla. 55g56c: Valley,
nominal; blueetem, 57&C per bushel.
Flour Best grades. $2 SOftS 40 per bar
rel: graham, $2 GO.
Oats White. 4445 per bushel; gray, 42
Barley Feed. ?16 0016 50; brewing. ?16 00
16 50 per ton.
Millstuffe Bran. $16 00 per ton; mid
dlings. $21 50: shorts. 1S 50: chop. J16 00.
Hay Timothy. $12 0012 50; clover, 7 00
&3 50; Oregon wild hay. $6 007 00 per
Hatter, Eggs, Toultrr, Etc.
Butter Fancy creamery, Oregon, 45
50c; do California, 4045c; store, 20327&C
Eggs Oregon ranch. lS14c per dozen.
Poultry Chickens, mixed, $3 504; hens.
$4 5CS5 00; dressed. ll12c per pound;
ducks, $5 00ft6 00; geese, IS 00g? 00 per
dozen; turkeys, live, lOffllc; dressed, 12
13c per pound.
Cheese Full cream, twine, 13gl3Hic;
Young America, 13&14c per pound.
Vegretnbles, Fruit, Etc.
Vegetables Parsnips, 85c; turnips. 75c;
carrots', 75c sack; onions. $3 04 00; cab
bags, $1 C5l 75 per centul; potatoes, 45
60c per sack; sweet potatoes, $1 65 per 100
pounds; celery, SOJ?90c per dozen; Cali
fornia tomatoes. ?2 50 per oox.
Fruit Lemons, chblce, $2 00; fancy.
52 50g2 75; oranges. $1 7&j?2 50 for navel;
$1 50fl 75 for seedlings, per box; pineap
ples, J4 00&4 50 per dozen; bananas. $2 50
L3 00 per bunch; Perslaa dates, OgCVsc
per pound; apples, 75cil.25 per box.
Dried fruit Apples, evaporated, 5c
per pound; sun-dried, sacks or boxes,
34c; pears, S9'c; prunes. Italian, 5fr7c;
.silver, extra choice, 5g7c; figs, California
blacks, 5c; figs, California white, 5lg.7o;
plums, pltless, white, 78c per pound.
Meat and Provlnolna.
Mutton Gross, best sheep, wethers,
$4 75; ewes, $44 50; dressed, 67c per
Hogs Gross, choice heavy, $5t?5 25;
light. $4 75S?5; dressed, G7c per pound.
Veal Large, 776c per pound; small,
S&SS&c per pound.
Provisions Portland pack "(Shield
brand), hams, smoked, are quoted at 12a:
per pound; picnic hams, 9c per pound;
breakfast bacon, 14V415c; bacon, 10Vi
ll&c; backs, 10Vc; dry malted sides. 9V4
10c; dried beef, 15c; lard, five-pound palls,
lie; 10-pound palls. lOftc; 50s. 10'fec;
tierces, 10c per pound; Eastern pack
(Hammond's) Hams, large, 12Vic; me
dium, 12Vjc, small, 13c; picnic hams, 9J,jc;
shoulders, 9Vic; breakfast bacon. 13Ji
155ic; dry salted sides, 9JjlH4c; bacon
sides. 10A115ic; hacks, lll4c; butts, lOtfc;
lard, pure leaf, kettle-rendered. 5s. U&c:
10s, lie; dry salted, bellies, 1014ffllic;
bacon bellies, HU125ic; dried beef. 15lic.
Beef Gross, top steers, $4 504 75; cows.
$44 50; dressed beef, 7Sc per pound.
Hop, "Wools, IUdcn, Etc.
Hops 1214c per pound; 1S99 crop. G7c.
"Wool Valley, 14(S15c; Eastern Oregon,
912c; mohair, 21023c per pound.
Sheepskins Shearings, 15tfT20c; short-
wool, 25&35c; medium-wool, 30Q50c; lopg-
wool, G0U each.
Tallow 3c; No. 2 and grease, 202J4c per
Hides Dry hides. No. 1, 16 pounds and
upward, 1415c; dry kip, No. 1. 5 to 16
pounds.14S15c nee nound: dry calfNo. 1.
Vnder ""a-pounds. 1415c: dry-salted, one-
third less than dry flint; salted hides,
sound steers, 60 pounds and over, 7Sbc;
do. 50 to GO pounds, 77iic; do, under 50
pounds, G7c; kip, 10 to 30 pounds, 61407c;
do veal, 10 to 14 pounds, 7c; do calf, under
10 pounds, 7(gSc; green (unsalted), lc per
pound less; culls (bulls, stags, moth-eaten,
badly cut, scored, hair-slipped, weather
beaten or grubby), one-third less.
Pelts Bearskins, each, as to size, $5?20;
cubs, each, $2$F5; badger, each, ldjHOc;
wildcat, 2575c; house cat, 5J?20c; fox. com
mon gray, 3050c: do red, $1 502; do cross,
$515; lynx. $23; mink, 50$1 25; mar
ten, dark Northern, $612: do pale pine,
$1 503; muskrat, 5gI0c; skunk, 2535c; ot
ter (land). $57; panther, with head and
claws perfect, $2 5; raccoon. 30Ji35c: wolf,
mountain, with head perfect, $3 505;
prairie wolf or coyote, G075c; wolverine.
$45f7; beaver, per skin, large, $5fi; do
medium, per skin, $37; do small, per
skin, 12; do kits, per skin, 5075c.
in the stock market, while quite largo,
was very much congested in a few stocks.
There was continued strength In St.
Paul, and a late buoyant rise In Sugar,
and notable gains by some of the less
prominent high-priced industrials, but the
general market was not much inclined to
respond in sympathy, although the de
pression which existed In some parts of
the list early in the day was partly re
lieved. The speculative tone was more in
clined to sympathize with the continued
heaviness of the steel stocks than with
the strong features of the market. The
inclination of the steel stocks to gravi
tate to a lower level Is a distinct dis
appointment to the speculative world, as
It was hoped that when the .doubts and
uncertainties attending the period of ne
gotiations were cleared up and the great
consolidation of control fully assured,
prices of the securities would reflect the
hoped-for advantages to the owners of
the properties. There was large trading
again in the stocks of the group today,
but It was In large part on arbitrage op
erations from one stock to another.
The discrepancy in the prices of the
stocks and their privileges of conversion
into the stock of the United States steel
corporation forms the basis of these op
erations. They consist in the purchase
of such members of the group as are pro
portionately low. and the simultaneous
sale against these purchases of stocks
which are high. The natural tendency of
these operations is to bring the prices of
the various stocks to a basis consistent
with their relative claims for the new
stock. For the purpose of accommodating
these arbitrage operators, there were also
dealings on the curb In contracts to de
liver when issued the new United States
steel corporation stock. The common
demanded 40J4 at one time this morning,
and preferred 84. but before the close
the quotation for the common stock had
receded to below 3S, and that for the pre
ferred to about S2.
The transactions amounted to only a
few thousand shares, but the quotations
were accepted on the stock exchange as
a basis of operations. These securities
are expected to be listed ultimately on the
stock exchange, but It Is not unusual that
securities so transferred from the curb to
the exchange sell lower after the change.
An example Is that of the New Union Pa
cific convertible 4 per cent bonds issued
to provide for the Southern Pacific pur
chase, which sold in the unlisted depart
ment of the exchange for the first tlme
today over two points below the outside'
quotations. The strength of St. Paul to
day was accompanied by assertions that
the dividend will certnlnly be increased at
the approaching meeting. The movement
of sugar was attributed to reports that
the import duty on Cuban raw sugar is to
be remitted. The 'money market continued
Bonds became somewhat Irregular on a
fair volume of dealings. Total sales.
United States new 4s advanced . and
the refunding 2s per cent on the last
U. S. 25. ref. reg.lOojfcjN. Y. Cent. lsts.107t;
do coupon lOjjfciJCorthern Pac. 3a.. 70
do 3v reg Ill do 4s 70i
do coupon Ill (Oregon Nav. 1st. .110
do new 4s, reg. .133 I do 4s 104 Vt
do coupon 13S Oregon S. L. OS. ..127
do old 4. res.. .114 do con. ."s 110
do coupon 114 (Rio Gr. W. lsts...inoJ
do 5s. res Ill St. Paul consols.. .184
do coupon Ill ISL. P. C. & 1 IstsllSi;
Dlst. Col. 3-OT...123 I do 5s 120,
Atchl.on adj. 4s.. 02 Union Pacific 4s. ..100
C. &. N.W. con. 7e141 IWK Cent, lets SS;i
do S. F. deb. 5s.l24 I West Shore 4s 113
B. & R. G. 4s 102 iSouthcrn Tac 4s.. 2Vi
Gen. Electric 5s.. .1514,
The total sales of stocks today were 074, GOO
Shares. Th closing quotations were:
Atchison K5i Wabaph
do pref J7V do pref
Bait. & Ohio S8 j Wheel. & L. E
do pref jsm.i do 2d nref
Can. Pacific pni-iWls. Central ..
steadied and reacted to 76c, on reports of
a strong cash market at Minneapolis and
the engagement of four loads of wheat
for Lisbon. This advance failed of sup
port, and the market dropped back to
75hc Heavy seaboard clearances and lib
eral export sales caused moderate cover
ing, under which the market reacted to
768c and closed steady at that figure, He
Corn opened easier under the influence
of the better grading of the cereal re
celved today. The bears asserted them
selves and caused a decline, but the close
was steady under covering jfrom the
wheat strength. May left off Vc lower, at
Oats were fairly active and followed
corn. May closed HStic, lower, at 25'.4c
Provisions were quiet. The market
opened easy, but rallied later on a good
outside demand. May pork closed 7&c
higher, lard ZM'Soc down and ribs un
changed. The leading futures ranged as follows:
Openlntf. Highest. Lowest. Cloe.
Downing, Hopkins &
WHEAT AND STOCK BROKER
Room 4, Ground Floor
Chamber of Commerce
February $0 747s $0 74
March 74? 74
May 76 7GH
February 38 3S
May 40-X 40
May 25 25?i
May 14 021 14 15
March 7 40 7 45
May 7 474 7 52H
July 7 52h 7 57b
7 52 j
common California lemons. 50c; choice,
$2 25; navel oranges. 75c'g$2 25 per box-,
pineapples. $2 50g3 per dozen.
Bananas 50cSi$l 75 per bunch.
Poultry Turkeys, gobbler. 10Ul2c; do
hens, 121T13c per pound; old roosters, $3 50
04 per dozen: young roosters, $4 50(35; fry
ers. $45; hens, $3 5034 50 per dozen; small
broilers, $33 50; large do, $4&4 50; old
ducks. $4-55; geese, $1 75j2 per pair.
Green fruits Apples, choice, $125 per
box; common, 30c per box.
Butter Fancy creamery, 19c: eeconds,
17c; fancy dairy, 16c; do seconds, 13c.
Cheese California, v full cream. 10c;
Young America, 12c: Eastern. 15? 16c.
Eggs Selected. 12c; ranch, 13c.
Onions $14 50 per cental.
Receipts Flourt 15,400 quarter sacks: do
Washington 3200 quarter sacks: wheat.
159.700 centals; barley, 3700 centals: Wash
ington oats. 403 centals; beans. 2300 sacks;
potatoes, 5300 sacks; bran. 1200 sacks; hay,
the explorations govern pro rata the dis
tribution of the antiquities among our
L'nlou Depot, Sixth and. J Street.
GrocericH, Nuts, Etc.
Coffee Mocha, 2302Sc; Java, fancy, 260
32c; Java, good. 20324c; Java, ordinary,
lS1X)c; Costa Rica, fancy, 18C0c; Costa
Rica, good, 16?lSc; Costa Rica, ordinary.
10312c per pound; Columbia, roast, $12 75;
Arbuckle's, $11 75; Lion, $11 23 per case.
Rice Island, 6c; Japan. 54c: New Or
leans, 4&(?5Ac; fancy head, $737 50 per
Suear Cube. $6 43; crushed. $6 70; pon
dered, $6 03; dry granulated. $5 93; extra
C, $3 35; golden C. $5 25 net, half barrels
ic more than barrels: maple, 15316c per
Salmon Columbia River, one-pound
tails, $1 5032; two-pound tails. $2 2532 50;
fancy one-pound flats, $232 23; it-pound
fancy flats. $1 1031 30; Alaska tails, $1 403
1 60; two-pound tails, $1 9032 23.
Nuts Peanuts. GVvSc per pound for
raw, 9c for roasted; cocoanuts, SOc per
dozen: walnuts, 10SHcper pound; pine
nuts, 15c; hickory nuts, 7e; chestnuts, 15c
Brazil, lie; Alberts, 15c; fancy pecans, 12
14c; almonds. 153171&C per pound.
Beans Small white, 6Uc; large white.
5c; bayou, 3&c; Lima, 6&c per pound.
Grain bags Calcutta, $636 12&c per 100
Coal oil Cases. 19c per gallon; bar
rels. 15c; tanks, isiic
Stock salt 50s, $11 50 per 100, 100s, $1L
Ches. & Ohio -ifiuiXatlonal Tube
Chi. Gr. Western. 1Ssi do pref loi
C., B. & Q 1444, EXPRESS CO.'S.
Chi.. Ind. & L... Ml, Adams i&o
do pref en JAmerlcan lw)
Chi. & East. Ill..l(Mil4,L"nlted State 57
Chicago & X. W..172 WelI-Farco 138
C.. R. I. & Pac 12.5?,. MISCELLAXEOUS.
C. C. C. & St. L. 75 jAmer. Cotton Oil.. 2S4
Colo. Southern .. 8 do pref gs'
do lut pref 42'jlAmer. Malting: .... 4-t
do 2d pref 18 I do pref 24
D01..& Hudjoiu...l044;Amr. Smelt. &. R. 41M4
"Del.. Lack. Jt "W..19.l(4 do pref jui?
Denver & Rio Gr. 30 Amer. Spirits 2
do pref StSTil do pref it
Erie 274Amer. Steel Hoop. 30
do 1st pref 3! do pref siVi
Gr. Xorth. pref....l04UlAm". Steel & W. 404,
Hocking Coal 15',$ do pref oiju
Hocking Valley .. 48 Amer. Tin Plate... 63
IlllnolA Central ...131 do pref Iwi'A
Iowa Central 267iAmer. Tobacco ....12o
do pref 53 do pref 140'
Lake Erie &. "W... 41'Anaconda M. Co... 44?i
do pref Ill iBrooklyn R. T 74S
Lake Shore 2104fColo. Fuel A. Iron. 4:i)l
Loul? & Xash 2V, cont. Tobacco 47
7 05 7 10 7 02W
7 17V4 7 22 7 17b 7ZS14
Cash quotations were as follows:
Wheat-No. 3 Spring, 70S73tfc; Nd. 2 red,
Corn No. 2t 39c; No. 2 yellow, SOc.
Oats No. 2. 25V4c; No. 2 white, 27327i;
No. 3 white, 25;c.
Rye No. 2, 50353c.
Barley Fair to choice malting, 4S353c.
Flaxseed No. 1 Northwestern, $1 65.
Timothy seed Prime, $4 40.
Mess pork Per barrel. $13 S5314.
Lard Per 100 pounds, $7 421437 43.
Short rlba sides Loose, $737 23.
Dry-salted shoulders Boxed, SViffSUc.
Short clear sides Boxed, $7 357 55.
Clover Contract grade, $11.
Butter Market quiet; creameries, 133
23Vfcc; dairies. 10319c.
Cheese Quiet; 10V43H?4c.
Eggs Quiet: fresh, 16Vc.
Flour, barrels 02.000 55.000
Wheat, bushels 103.000 38-?JS
Corn, bushels 032.000 197.000
OaVs. bushels 520.000 275.00-J
Rye. bushels L000 . .00o
Barley, bushels 50.000 12.000
Gnropean Grain Market.
TOVDON. Feb. 27. Wheat cargoes on
passage, quiet and steady; cargoes No.
1 standard California, ss jjiu;. cargu
Walla Walla,. -2Ss 9d; English.- country
LIVERPOOL, FcbT 27. Wheat Firm;
wheat and flour In Paris, barely steady:
French country markets, dull; weather In
England fine. Wheat Spot, dull; No. 1
California, 6s 6d; No. 2 red Western Win
ter, 5s lUid; No. 1 Northern Spring. 6s
2VSd. Futures quiet; March, 5s lid; May.
5s IPjb. Corn Spot, quiet: American mixed
new. 3s 9d; do old. 3s lid. Futures
quiet; March, 3s 9d; May, 3s 9d; July.
Xevr Yorlc Grnln anil Proilnce.
. NEW YORK, Feb. 27. Flour Receipts,
3296 barrels; exports, 19,630 barrels; mar
ket quiet and easy.
Wheat Receipts, 41.400 bushels; exports,
323.S26 bushels; spot fairly active: No. 2
red, SO&c f. o. b. afloat; elevator. 79c.
Options opened easy under good cables,
and declined on general liquidation and
short selling. Closed steady at U3Hc net
decline. March closed 795c; May, 80c; Ju.y,
Money Exchange. Etc.
SAN FRANCISCO, Feb. 27. Sterling on
London. GO days. $i S5&; sterling on Lon
don, sight, $4 SSI4.
Mexican dollars, 30V351c
Drafts-Sight, 17&c; telegraph, 22c.
NEW YORK. Feb. 27. Money on call,
quiet, 1&32 per cent; prime mercantile pa
per, 3434U per cent.
Sterling exchange Arm, with actual bus!,
ness In bankers bills at $4 S7Vi34 S7 for
demand, and at $4 8334 S4 for GO dajs;
posted rates. $4 SH434 S5 and $4 SS; com
mercial bills, $4 S3t34 S35J.
Sliver certificates. GV.tfittc.
Mexican dollars, '49c.
Government bonds 6trong state bonds
Inactive; railroad bonds irregular.
LONDON, Feb. 27. Consols, 9i 9-16.
Money, "4?i35 per cent.
Boston "Wool Mnrlcct.
BOSTvN, Feb. 27. The wool market has
been fairly active this week, although the
deallnes show that manufacturers are
only buying to fill orders. Market gener- J
any iavors me ouyer in me tumiuu
grades of territory wools, but the weak
ness does not extend to choice wools.
The sales of territories continue to head
the list. Fleece wools attract but little
attention. Australian wools are steady.
Territory-scoured bnsis. Montana fine
medium and fine. 15316c; scoured. 44345c;
staple. 4734Sc; Utah 'and Wyoming fine
medium and fine, 14Jtl5c; scoumi, liiM3c:
staple. 4546c; Idaho fine medium and
fine, 13314,,2c; scoured; 4234-c; staple. 453
46c. ' -
Australian Scoured basis, spot prices
combing superfine nominal, 7071c; good,
65367c; average, C3t'G5c.
Progress Beinjc Mnile By the "War
NEW YORK. Feb. 27. Progress Is being
made by the War Department in the or
ganization of the additional troops au
thorized by the recent Army reorganiza
tion law, says a Herald special from
Washington. Adjutant-General Corbln
said that one battalion of the Twenty
sixth Regiment and one battalion of the
Twenty-seventh Regiment of Infantry are
now en route to Manila; one battalion of
the Twenty-eighth has been organized at
the Presidio, San Francisco; one bat
talion of the Twenty-ninth will be filled
at Fort Sheridan on Saturday night and
other battalions are rapidly forming.
Equally good progress Is being made In
recruiting the new regiments of the Cav
alry arm. The organization of one
squadron of the Eleventh Cavalry has
Just been completed; a squadron of the
Twelfth Cavalry will be organized at Fort
Leavenworth by Saturday and a squadron
of the Thirteenth Cavalry at Fort" Myer
will be ready for service next week. Cap
tain W. P. Newcomb and Captain O. I.
Straub will organize the Eighty-third and
Eighty-fourth Batteries at Fort Hamil
ton, N. Y.; Captain George W. Gatchell
will organize the Eighty-fifth and an of
ficer to be selected the Eighty-sixth at
Fort WacLsworth: Captain E. F. McGlnch
Un. Jr., will organize the Eighty-seventh
Battery-at Fort Slocum; First Lieutenant
F. G. Jenkins the Eighty-eighth Battery
at Fort Trumbull; Captain S. S. Jordan
the Eighty-ninth Battery at Fort Banks;
Captain W. E. Ellis the Ninetieth Battery
at Fort McHenry: Capaln J. T. Mhrtln
the Ninety-first Battery at Jackson Bar
racks; Captain R. P. Davis the Ninety
second Battery at the Presidio, San Fran
cisco; Captain D. J. Rumbaugh the Ninety-third
Battery at Fort Stevens, and
Captain E. L. Wilson the Ninety-fourth
Manhattan El 117 I do nref .
Met. St. Ry HKiVi Fedeial Steel ..
Mes. Central 17 I do pref
Minn. & Su Louis 77s,Gen. Electric ...
MI.ourl Pacific .. SSVii Glucose Sugar ..
Mobile & Ohio.... 7SVi do pref
M.. K. & T 20tilnt. Paper
do pref 53 i do pref
Xew Jersey Cent. 155 jLa Clede Gas...
Xcw York Cent...l41- Xatlonal Biscuit
Xorfolk Jfc West... 45.. do pref
do pref S2lXatIonaI Lead .,
Xorthern Pacific S3Vi do pref ........
do pref S7V Xatlonal Steel .
Ontario & West... SIM do pref
O. R. & X 42 IX. Y. Air Brake. .153
do pref 70 jXorth American .. 21U
Pennsylvania 14SUl'acMc Coast 52
Reading H0V do 1st pref S8
do 1st prer 7J-r4' do 2d pref 02
do 2d pref 40VPaclfle Mall 3S
Rio Gr. Western.. 65 I People's Gas 101:4
do pref 93 (Pressed Steel Car.. 35"6
St. Louis & S. F.. 35511 do pref 74jt
do 1st pref SllPuHman Pal. Car.lOS
do 2d pref m: Stand. Rope & T.. 3?i
St. Louis S. W 25 iSugar 142-,
do pref 55! do pref 121
SL Paul IMtsiTcnn. Coal & Iron. 53
do prof 190VU. S. Leather I7s
St. Paul & 0 120 I do pref 7.Ti
Southern Pacific. 43u U. S. Rubber 19Vt
Southern Ry 24! do pref GO
do pref 77-j Western Union ... 8GV,
Texas & Pacific. ShSiAmal. Copper 91
Union Pacific .... S7 Republic Iron & S. 14
do pref S3Vil do pref 62fi
P. C, C & St. L.. 5S
NEW YORK. STOCIC MARKET.
Trading WaH Large, but Wan Con
fined to a KeTT Specialties.
NEW YORK, Feb. 27. Today's trading
Board of Trade and
Stock Exchange Brokers
STOCKS an J
nOCGHT AXD SOLD FOR CASH OR
CARRIED ON' MARGINS .
ForclRii Financial Xcw.
NEW YORK, Feb. 27. The Commercial
Advertiser's London financial cablegram
There was no improvement In business
on the stock exchange today, but the
tone was steady. There was news of gen
eral French's victory at Mlddleburg, the
capture of 3X) men, three guns and a great
quantity of stores, but It reached London
too late to affect anything except the
street market for Africans.
The American department was more
cheerful than it has been for some days
In the earlier hours, but when New York
opened and sent over heavy selling orders
In Union Pacific, the market here broke
badly. There was a general rally, how
ever, in the street after our close on pur
chases for New York account of St.
Paul Issues and the circulation again of
reports that the Hill deal was being re
vived. The Bank again bought CO0O of
gold In bars. Money rates were unchanged.
Chi en go Grnln Gossip.
F. G. Logan. Chicago, wired as follows
to R. W. McKlnnon & Co.:
"Wheat ruled soft during most of the
session, and local traders have liquidated
their holdings to a large extent, we think.
The break had the appearances of being
forced by important interests to relieve
the market of the holdings of the tallers.
It was difficult to see where this wheat
went, although we think shorts, as a rule,
covered freely at the bottom, and there
was also scattered commission -house buy
ing on the break. Legitimate conditions,
as we see them, are getting more healthy.
The primary movement Is getting moder
ate, and the milling demand Is fair. We
still think wheat should be purchased on
the soft spots, lor the time being, at
least. Estimated cars for tomorrow, 43."
Crucible Stock in Deninnd.
PITTSBURG. Pa.. Feb. 27. Ten thou
sand shares of Crucible Steel common
stock were sold at the first call of the
Pittsburg Stock Exchange today at ZdS
i7. as against 25V2 yesterday afternoon.
The demand for the stock was due to a
report that the Crucible Steel Company
probably would be included in the great
steel deal. Negotiations. It Is said, are
under way which It Is thought will end In
the company becoming a part of the
Morgan giant combination. The Cru
cible Steel Company controls Do per cent
of the output. The capitalization Is 525.
CCO.000 each of the common and preferred
For tlie Cure of Consumption.
CLEVELAND. O.. Feb. 27. It Is stated
that a company will be organized here
within a few days, composed of Cleveland
and Eastern capitalists, and capitalized at
$1,000,000. to erect a system of sanitariums
In the largr cities of the country for the
cure of consumption by electricity. It Is
said that a positive cure for the disease
has been found.
THREE TRAINS DAILY
FOR ALL POINTS EAST
"CHICAGO -PORTLAND SPECIAL."
Leaves for the East, via Huntincton. at 9:00
A. M.; arrives at 4:30 P. M.
For Spokane, Eastern Washington, and Great
Xorthem points, leaves at UP. M.: arrlvea at
7 A. M.
Leaves for tho East, via Huntington, at 0:00
P. M.; arrives at S:40 A. M.
THROUGH PULLMAX AXD TOURIST
OCEAN AND RIVER SCHEDULE.
Water lines tchedulo subject to chacgo with
ot-r.A.-. DiVISIOX From Portland, leave.
Ainsworth Dock at 8 P. M.; sail every 5 days:
Columbia, bun.. Jan. Zii W'ea., a en. o; aau.
Feb. Its Tues.. eb. 20. Frl., March b. Geo.
W. Elder. Frl., Feb. 1; Alon., Feb. 11; Thura..
Feb. 21. Sun., ilar. 3; Wed.. March 1J.
From San Francisco Sail every 5 days.
Leave Sear-street Pier 24 at 11 A. M.: Co
lumbia, sat.. Feb. 2; Tues.. Feb. 12; Frl.. Feb.
22; Man., Mar. 4; Thura.. Mar. 14. Geo. W.
Elder. Thurs.. Feb. 7; Sun.. Feb. 17: Wed..
Feu. 27; Sat.. Mar. 0; Tues.. Mar. 10.
COLUJI11IA KIVEU DIVISION.
FORTLAXD AXD ASTORIA.
Steamer Hasalo leaves Portland dally, ex
cept Sunday, at a:tw P. M.; on Saturday at
10.00 P. M. Returning, leaves Astoria dally,
except Sunday, at 7.00 A. M.
WILLAMBXTE RIVER DIVISION.
PORTLAND AXD SALEM, OR.
Steamer Ruth, for Salem, Independence and
way points, leaves from Ash-street Dock at 4
A. M. on Mondays, Wednesdays and Fridays.
Hotiirnlnir. leaves Independence at 5 A. M..
and Salem at 0 A. M.. oa Tuesdays. Thursday
CORVALLIS AXD ALBANT.
Steamer Modoc leaves Portland at 6 A. iL
on Tuesdays. Thursdays and Saturdays. Re
turning, leaves CorvallU at 6 A. M. on. Mon
days, Wednesdays and Fridays.
YAMUILL RIVER ROUTE.
PORTLAND AXD DAYTOX, OR.
Steamer Elmore, for Oregon City. Buttevllle.
Champoeg. Dayton and way landings, leaves
Portland Tuesdays. Thursdays and Saturdays
at I A. II. Leaves Dayton for Portland and
wa points Mondays. Wednesdays and Friday
at 6 A. M.
SXAKE RIVER ROUTE.
KIPAR1A. WASH.. AND LEWISTON. IDAHO
Steamtn. leave Rlparla at 3:40 A. M. dally,
arriving at Lewlston about 3 P. M. Returning,
leave Lewlston at S:S0 A. M.. arriving at Rl
parla same evening. A. L. CRAIG.
General Passenger Agent.
The Metal Markets.
NEW YORK, Feb. 27. Dullness pre
vailed In all the American Iron markets
today. Prices were unchanged. In Eng
land, however, the market was weak and
a fraction lower. Tin ruled weak, clos
ing at 526 50t?2G 75. Copper continues dull,
lake, 517; casting. $16 2'. Lead very dull.
54 371.-. Spelter weakr but not lower,
closing at 53 90jT4. Bar sliver, CO&c
SAN FRANCISCO, Feb. 27. Bar silver,
LONDON. Feb. 27. Bar silver, 2S',8c.
8 and 9 Chambzr of Commercs
Wc arc connsclcd, through the
firm of F. G. Losan. Chicaso. with
the following New York houses, who
are members of the New York Stock
Ladenburg. Thalman & Co.
J. S. bache & Co.
"Write for our daily market letters."
PORTLAND & ASIATIC
For Yokohama and Hong Kong, calling at
Kobe. Nagasaki and Shanghai, taking freight
via connecting steamers for Manila, Port Ar
thur and Vladlvostock.
For rates and full Information call on or
dress oillcIaU or agents of O. R. & X. Co.
jf SUNSET -tll
O CGCEN 4 SHASTA) 1
UnV "fugs joj
Depot l-'lltli and
S:30 P. M.
8:30 X. M.
Coffee ami Snprnr.
NEW YORK, Feb. 27. CofTee Closed
firm 510 points lower. Sales, W.000 bags.
Including March, $." 90; May, 56 20; July.
5S 10g6 25; November. 56 2T; spot Rio.
easy; No. 7 Invoice. 7c; mild, quiet; Cor
Sugar Raw. quiet and steady; fair re
fining. 3 ll-16c; centrifugal, 56 test, 4 3-lCc;
Stocks In London.
LONDON. Feb. 27. Atchison. 57; Can
adian Pacific, 93; Union Pacific preferred,
S9i: Northern Pacific preferred, S9V4;
Grand Trunk, 7; Anaconda, 9Vi.
THE GRAIN MARKETS.
Price for Cereals in Enropenn and
SAN FRANCISCO, Feb. 27. Wheat on
call steady and quiet In the spot market.
Barley quiet. Oats steady.
Spot quotations were:
Wheat Shipping No. 1 95c; choice. 95c;
milling. 9S?4ce51 02U.
Barley Feed, 70S72s"c; brewing, 77Vi
'Oats Black for -seedr 51 22&ffl 32&; red,
51 25gl 45. .
Chamber of Commerce
Portland, Ores en
Ch I en pro Grain and Produce
CHICAGO, Feb. 27. February Is down
on the wheat speculator's calendar as a
bear month, and possibly a desire to sup
port this allegation moved the bear con
tingent to accept easy cables and rotse
colored Kansas crop tidings as sufficient
ly Important factors to Justify letting out
short lines. May opened at 76&'76Kc, a
shade under yesterday. Wheat came out
on a constantly Increasing scale, until
I May reached 75H1l"5ic, "where the market
CHICAGO. Feb. 27. Cattle Receipts,
17,000. Choice steers, strong; medium,
lower. Good to prime steers, 54 S0g6 CO;
poor to medium. 53 40JJ4 80; stockers and
feeders, 52 754 50; cows. 52 KV54 20; heif
ers, 52 G54 50; canners, 52 002 GO; bulls,
52 40ff4 15; calves. ?4 XXg5 25; Texas fed
steers, 54 0004 90; grassers. 53 35fT4 00;
bulls, 52 503 50.
Hogs Receipts today, 42.000; tomorrow.
33.000; left over, 5000. Generally 10c lower.
Top. 55 55. Mixed and butchers. 55 35fjo 0;
good to choice heavy, 55 455 55; rough
heavy, 55 205 40; light, 55 355 45; bulk of
sales, 55 40JJ5 0.
Sheep Receipts, 14.000. Sheep, strong.
Lambs, steady to slow. Good to choice
wethers, 54 25S"4 75; fair to choice mixed,
53 75r4 25; Western sheep. 54 25ft4 75; Tex
as sheep. 52 503 50; native lambs, 54 CO
5 25; Western lambs. 55 0035 25.
OMAHA. Feb. 27. Cattle Receipts, 2SU0;
market, active and steady; native beef
steers. 5-1 4085 35; Western steers, 53 70
4 50; Texas steers, 53 00g3 S5; cows and
heifers, 53 10JT4 23; canners, 52 00g'3 00;
stockers and feeders, 53 254 50; calves,
54 00g7 25; bulls and stags, 52 5004 25.
Hogs Receipts. 13,300; market. 5c lower;
heavy. 55 275 32; mixed, 55 2505 271.4;
light. 55 1505 25; bulk of sales, 55 250
Sheep Receipts, 2400; market, strong
and active; fair to choice yearlings, 54 358
4 65; fair to choice wethers, 54 0004 40:
common and stock sheep, 53 o03 S5;
lambs, 54 0005 CO.
KANSAS CITY. Feb. 2L-Cattle Re
celps. 7000; market, strong to steady;
Texas steers, 53 7504 50; Texas cows. 52 75
03 50; native steers. 54 5005 50; native
cows and heifers. 52 3504 60; stockers and
feeders. 53 9004 85; bulls. 52 6004 25.
Hogs Receipts. 17,000; market, weak to
5c lower; bulk of sales, 55 3005 40; heavy.
55 3505 0; packers, 55 3005 45; mixed,
55 SO05 40; lights, 55 SO05 35; Yorkers,
55 1005 30; pigs. 54 6005 50.
Sheep Receipts. 20,000; market steady;
lambs, 54 750o 00; muttons. 53 7004 So.
SAX FRANCISCO MARKETS.
SAN FRANCISCO, Feb. 27. Wool
Spring: Nevada, 11013c: Eastern Oregon.
10gl3c; Valley Oregon, 14015c Fall:
Mountain lambs, 9010c; San Joaquin
plains. G07c; Humboldt and Mendocino,
Hops Crop 1900, 15020c.
Hay Wheat, 59013 50; wheat ana oats.
59012 50; best barley, 5709 50: alfalfa, 57J
10: compressed wheat, 59013 per ton;
straw, 35047c per bale.
Potatoes River Burbanks, 35065c; Sa
linas Burbanks. 75c01 15; Oregon Bur
banks. 65c51 05; Early Rose. 60073c;
Onions 5304 per cental.
Vegetables Green peas, 507c; string
beans, 10015c per pound; asparagus, 250
Citrus fruit Mexican limes, 57 50SS 00;
DISCOVERED IN EGYPT.
Valnnblc Papyri of the First
BOSTON. Feb. 27. Rev. Dr. C. Wins
low, of this city, vice-president of the
Egypt exploration fund, today announced
the discovery of a most valuable trophy
among tho large number of papyri re
cently received by Dr. Wlnslow for dis
tribution among several universities, 29
of which went to the University of Penn
sylvania. It Is the oldest fragment of the
gospels now in this country. Dr. Wins
low states that the papyrus contains a
large part of the first chapter of the gos
pel of St. Matthew. It was found at
Oxyrhyrnchus, 140 miles south of Cairo,
near the famous "Logla" or "sayings of
Jefius," and Its date is placed by some
experts at 150 A. D., and by the editors
of the societies' publications at 50 or CO
This papyrus of St. Matthew belongs to
the same class as the famous Sinailc and
Vatican codices, and of course Is a re
markable corroboration of those texts and
the present accepted version. On an Im
portant doctrinal point It declares in com
mon the exact language : "Joseph, thou
son of David, fear not to take unto thee
Mary, thy wife, for that which Is con
ceived In her is of the Holy Ghost." This
papyrus is the oldest fragment of the
gospels, or, indeed, of the New Testa
ment. Dr. Wlnslow states that valuable papyri
of Homer. Thucydldes and Euclid are
ateo In the collection. The papyrus of
Thucydldes contains no less than chapters
xxvl-xil of his fourth book, which dates
from the first century".
"Very fortunate, too," says Dr. Wlns
low, "Is the" University of Pennsylvania
to possess a splendid papyrus of a large
part of the fifth book of the Iliad In very
good text- It dates a little later than 200
A. D. The accentuation Is full and
"The petition of DIonysia to the pre
fect, dating ISO A. D., Is a legal document
of many pages, full of just such refer
ences to precedents as one finds In peti
tion and argument to our Supreme Court ,
of 1901. DIonysia claims her right to
property conferred by her marriage con
tract, and enjoy the Income of it, without
the Interference of Chaeremon, her father.
"A bit of Euclid of the third century
Illustrates proposition five of the second
book, and papyrus 930 reveals the fact
that private syndicates existed at S3 A. D.,
for It states how a company of residents
got together to do some banking at the
village of Tuxls the banking of the Nile,
not of funds. Is meant In order to keep
their lands from being too much watered.
"All In all. these papyri form a won
derful collection for any library or mu
seum to possess. A Phlladelphlan last
season sent to the Egypt exploration fund
office In Boston a check for 5750, and Dr.
Wlnslow says that is why Philadelphia
reaps .so handsome a return.. in papyri, as
well as antiquities. All subscriptions to
You can sleep like a top In a Bur
lington chair car.
The air Is good; the car Is not
TOO warm, and your seat, when ad
justed at the right angle, is nearly
as comfortable as a couch. Cover
yourself with an overcoat or shawl;
get a pillow from the porter and
there you are, rcatiy for a comfort
At 10:30 the lights are lowered,
and from that time until morning
the car Is almost as quiet as your
own room at home.
Omaha, Chicago. Kansas City, St.
Louis and EVERYWHERE beyond.
T1CKETOFFICE: Cor. Third and Stark Sts.
n. W. Foster. Ticket Agent.
4:00 P :
117 SO A- M
tor iSalcm. i;oa
burg. Ashland, sac
ra m e n to. ugden.
San Krtncisco, Ho
jave. Los Angeles.
t;i Paso. Xcw Or
leans and tho Kast.
At Wood burn
(daily except Sun
day), morning train
(.ounccu Willi train
for ML Angel, all-
e r i o n, Uruwm
vllle. Sprtngtl eld.
and Nitron. and
eenlns train tor
Mt. Angel .nd all-
iU:50P. M. shrridan pass'gr
'1:43 A. M.
7:20 P. M.
10:10 A. M
5:50 P. M.
S:25 A. M
Pacific Coast Steamship Co,
The Company's steamships
COTTAGE CITY. SEXATUK
and AL.-K1 kave TACOMA
11 A. M.. SEATTLE 0 P. M..
Fob, 4. 0, 14. IK, Zi, March 1.
0. 11. 10. 21. 20. 31. Apr. 0.
Steamers leave every nun day
thereafter. For further In
formation obtain Company a folder.
The Company reserves the right to change
steamers, sailing dates and hours of sailing
without previous notice.
AGENTS K. POSTOX. 249 Washington St..
Portland. Or. F. W CARLETON. N. P. R. R.
Dock. Tacoma; Ticket O.'nce. 01S First ave..
Seattle. M. TALBOT. Comra'l Agi.. C.W. MIL
LER Asst. Gen'l Agt. Ocean Dock. Seattle;
GOOPALL. PERKINS & CO.. Goa'1 Agents.
Dally. UDaliy except Sunday.
Kcunt" tickets on a.o uetween Portland, Sac
ramento at.U au raiii-j8.u. fet rules $17" Urn
v.lw and $11 stcouu clu-ss, including sleeper.
lt.it.s una rickets to Eastern ponus ana u
rope Also IAHAN. CHINA. HONOLULU and
AUSTRALIA. Can oe obtained trora J. B.
1C1KKLAND. Ticket Ac-nt. HI) Third streic
Pwsenger Ueptt. tool or Jetleraon street.
Leavf for usweo dahy at 7.2i. '0:40 A. M.;
i- m loo. o:2S. -t.-lo. "&. a-3u. ll.oU P. M-;
auii y-uu A M. oa aut.uajs only. Arrive at
vortl.-uid uall at U.aS. a.Jo. 10 50 A. M.;
1-35 1 10 4:.. '15. " lo:wo M-J 12:4('
A. M daily, escept Monday. s:30 and lu:05 A.
M on Sundays only.
Leave for Daliaa dally, except Sunday, at
.P m. Arrive U Portland at 1):30 A. M.
Pnmtrit-r rala leaves Dallas for Alrlle Mon
aS Wednefdays nd F.ldajs at 2.45 P. M.
Returns Tue-las. Thursday and Saturday.
C. H. MARICHAM.
Gen. Frt. & Pass. Agt.
Tickit Office 122 Third 5t ' Phone 680
The Kl er. dall7 to and ARRIVE
from si. Paul. Mlnne- . 3
Rpolls. Duluth. Chicago
and all points Easu 7.QU a. ai
Through Palace and Tourist Sleepers. Dlnln
snd Buffet Srnoklng-Llbrary Cars.
JAPAN - AMERICAN LINE
STEAMSHIP IDZUMI MARU
For Japan. China and all Asiatic points will
About March 4th
Astoria & Columbia
River Railroad Co.
8:00 A. M
7:00 P. M
For Muygers. Ualnlei,
Clifton. Astoria. War
renton. Flavel. Ham
mend. Kort Stevens.
Gearhart Pk.. Seaside.
Astoria and Seashore
0:40 P. M.
WASHINGTON & ALASKA STEAMSHIP CO
Fast mall, express and passenger service .for
SKAGWAV. calling at Port Townaend, Van
couver. Ketchikan and Juneau, connecting
with White Pass & Yukon Route for Dawson.
Atlln and all Yukon River points. Through
bills of lading Issued.
SS. CITY OF SEATTLE on March 0. 10
PS. VICTORIAN on March 3, 13 and 23.
From Seattle at S P. M.
DODWELL & COMPANY. Ltd..
252 Oak st. Telephone Main OG.
Ticket office 255 Morrison at. and Union Depot.
J. C. MAYO, Gen. Pass. Agl., Astoria. Or.
WHITE COLLAR LINE
STR. HERCULES takes the place of
UAILEY GATZERT tAlder-street Dock).
Leate. Portland dally every morning at 7
o'clock, except Sunday. Returning, leuves As
toria every night at 7 o'clock, except Sunday.
Oregon phone Main 351. Columbia phone 25L
Altona and Pomona
Dilly tex. Sunday) for Independence. Salera
and all way landings. Leave Portland 0:45 A.
M.: leave Salem b A. M.; Independence, 7 A.
M. Office and dock, foot Taylor st. .