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About Morning Oregonian. (Portland, Or.) 1861-1937 | View This Issue
THE MORNING OREGONIAN, SATURDAY, AUGUST 24,' 1907.
WOOLS IN THE- EAST
Ready Market There for Ore
PRICES FIRM ALL AROUND
General Position of the Wool Trade
Is Satisfactory Condition of Lo
cal Produce Markets Ad
vance In Wheat Prices.
Wool buyer are doing a considerable
amount of business In the- country now. buy
ing up the cattered remnant of the clip, but
re paying slightly lower price than were
current in the busy part of the season.
The lattat advices from Boston say that
tap.e Oregon wool Is celling there at 23fe'9
24c. The scoured cost Is 72 to 73c. A few
hundred thousand pounds sold this week and
deliveries on old contracts are large. At
to 21c a fair amount of clothing changed
hands. The clean cost is about ftSc. No. 2
Eastern sold at 4 Nto 25c.
j ihe latest issue of the Boston Commercial
Bulletin says of the general situation In the
The volume of business made public this
week is the largest of any week for some
.time. But it by no mean represents all
frtsh transactions. A good deal, of the
Territory. Oregon and Texas wool Included
in the published transfers was sold a week
or more ago. All through the season many
deals have, been put through in eupplles
in advance of arrival, subject to final ap
proval by the buyer. On account of some
of theae transactions supplies have been
received this week, and, having passed In
spection, are Included in the week's report
of sales. The market, however, is active
after all allowances are made. Transac
tions on new contracts are large, and it Is
taid that considerable successful negotia
tion is going on about which little or nothing
id heard. "The demand is good and comes from
various sources. Staple wools are still hold
ing first place, but a good deal of attention j
is given to tne Dest ciass oi nne ciwnmi ewi.
The fact that domestic one-quarter blood
Reece and low imported crosebreds have been
inquired for and have moved to a fair ex
tent indicates a broadening of demand that is
a healthy sign.
At present the atrong features of the sit
uation are brought prominently to the front,
through the continued active interest of man
ufacturers, particularly the big ones, and the
heavy distribution of supplies. Stocks are
naturally Enlarging, but to an extent only
normal for the season, when the movement
from Western producing section is heavy.
A disturbing element la the tight money
market, which, though not seriously felt as
yet in the wool trade, haa nevertheless to be
tsken Into account.
MORE DRY-ROT PEACHES RECEIVED.
Cantaloupes Are Vselenitly Brought Up From
Several more large shipments of peaches In
fected with dry rot came on Front street
yesterday and nr.ost of them are still there.
Good sound fruit was in strong demand and
as high as $1 per box was quoted on it, but
the inferior stun" was hard to move at any
price. Some of it went at 30 cents to the
hawkers. A car of California cantaloupes
was also dumped on the markets, which had
a weakening effeO. on the better local offer
ings. Green pears are accumulating rapidly,
which causes considerable apprehension, as
they will ripen all about the same time.
.YAKIMA FRUIT SHIPMENTS CROWING.
Fifty Dollars a Too Is Being Paid for Bart
let t Pears.
NORTH YAKIMA, Aug. 23. With 21 cars
of fruit shipped from North Yakima in the
past six days, the heavy shipping season is
just opening and prices are hardening. The
best quality of apples are now worth $1.23
to the grower and peaches are worth 73
cents. Bartlett pears are being taken for
shipment at 2 cents per pound, and one
orchardtst here yesterday refused $20uO for
the pears on less than one acre of land. ,
Italian prunes are now on the market,
sellinor for 1 cents per pound. Local
crapes are worth 40 cents a basket. Ship
pers report an active demand on the Sftui
and in the Eastern markets for all Yakima
fruit, and expect a further rise in prices.
WALNUT CROP IS DOING WELL.
Oregon Nuts Will Find a Ready Market In
M'MINNVILLE, Or., Aug. 23. Walnut
trees on the 600 acres of land devoted to
walnut culture In this county, some already
In bearing, but a larger number recently
planted, are showing good results. Thomas
Prince, of Dundee, estimates his crop of
walnuts this year at 10 tons, against one
third of that amount last year. Thera Is a
big demand In the East for English walnuts
grown in the Pacific Northwest, and they
command in the market a price 2 to 3 cents
a pound higher than California walnuts.
Secretary Hgerty. of the Yamhill County
Walnut growers' Club, was recently in re
ceipt of a communication from a New York
City jobber, asking very earnestly for a con
signment of this season's walnut crop. They
had handled a few Oregon grown walnuts
and wanted more of them.
Wheat Is Firm and Higher.
Wheat buying for export continues on a
talrly good scale, the principal limitation
to business being the lack of ready offer
ings. This is occasioned by the scarcity of
men and teams In the country, which haa
prevented warehouse receipts reaching
much volume. The quantity of wheat ar
rix'lng at the warehouses, however, is
steadily growing, and when harvest is com
pleted, the market will be In full swing.
The tone of the market Is very firm and
exporters' quotations were raised a cent all
Hops 8old on the Poles.
M'MINNVILLE. Or., Aug. 23. There Is a
reported sale of a hop crop In the north
part of this county at 2- cents in the bale,
the purchaser to pick and cure the crop.
The 2 cents per pound will represent the
grower's profit on capital invested and cul
tivating and training the vines. Some of
the growers on rented yards have surren
dered their leases, and there are a number
who will not attempt to pick the crop at
present prices unions they can contract soon
at a safe price. Hops are ripening fast, and
picking will be pretty general by the first
week In September.
Eggs Scarce and Firm.
The egg market was very firm yesterday,
with 23 and 26 cents the general quotation, and
iome sales reported made at a higher figure.
Poultry was only fairly steady,, with mod
City creamery men are still apart in their
butter prices and show no inclination of get
ting together Immediately.
Belated Run of Black Salmon.
HOQUIAM. Wash.. Aug. 23. The belated
run of black salmon on Gray's Harbor has
come and fishermen report some very larsre
catches during the past few nights. Owing
to the lateness of "these fish, the local can
nery has not begun packing, but will begin
operations tomorrow should the run con
tinue. Packers and fishermen contemplate
a poor season this year and base their
opinion on the small pack of other places.
Yesterday's .statement.' of the Portland
Clearing House folio we:
Grain, Flour, Feed, Etc.
MILXSTUFFS Bran, city. $17.
$1S per ton; middlings, $24-30 25.50; shorts,
city. $19; country $20 per ton; chop, $153
Id per ton.
WHEAT (New crop) Club. 60c; blue
stem. 8Jc; Valley, 81c; red, 78c.
OATS (New crop) Producers' prices: No. 1
white. $23.50; gray, $23.
- FLOLi Patent, $4.80; strairht, $4. 25;
clears, $4.25; Valley, $4.3uq4.40; graham
flour. $44.50: whole wheat flour, $4,239
BARLEY (New crop) Feed, $2222.50 per
ton; brewing, $24 24. 50.
CEREAL FOODS Rolled oats, cream, 80
pound sacks, $7; lows rgrades. $3.50 06.50;
oatmeal, steel-cut, 43-pound sacks. $8 per
barrel; 9-pound sacks, $4 25 per bale; oat
meal (ground). 43-pound sacks, $7.50 per
barrel; it-pound sacks, $4 per bale; spilt
peas, per 100 pounds. S4.253t4.SO; pearl bar
ley, $4 4-00 per 100 pounds; pastry flour,
10-pound sacks, $2 30 per bale.
CORN Whole. ?2S; cracked, $20 per ton.
HAY Valley timothy. No. 1. $1718 per
ton; Eastern Oregon timothy. $21 23;
clover. $y; cheat. $t10: gram nay, $tt10;
alfalfa, u14. s
Batter, Egars. Poultry. Etc
BUTTER City creameries: Extra cream
ery, 35&37c per pound. State creameries:
Fancy creamery, 32&35c; store butter,
CHEESE Oregon full cream twins, 16
17c; Young America, 17H18c per pound.
POULTRY Average old hens, 13ft13Mtc;
mixed chickens. 12 He; Spring chickens,
14 H 15c; oid roosters, S0c; dressed
chickens, 16(g) 17c; turkeys, 41 ve. 15 16c;
turkeys, dressed, choice, nominal; geese,
live., per pound, 8Kr; ducks, 10c;
pigeons, $191.50: squabs, $23.
EGGS Fresh ranch, candled, 25 20c per
VEAL 75 to 125 pounds, 8ff8"4c: 125 to 1BO
pounds, 76SHc; 150 to 200 pounds, thk
PORK Block, 5 to 150 pounds, 68c;
Vegetable. Fmlts, Etc.
DOMESTIC FRUITS Apples, $1 4 1.75
per box; cantaloupes, $lgl.50 per crate;
peaches, 50c $ 1 per crate ; blackberries,
5 9' 7c per pound ; prunes, $1.50 1.75 per
crate; watermelons. 1 1 4 c per pound ;
plums, $1.301.3 per box; pears, $11.50
per box; apricots, $1.50 2 per box; grapes,
75cig$1.25 per box.
TROPICAL FRUITS Lemon. 537.60 per
box; oranges, sweets, $3.253.50; Valencia.
$3.7fi4.50; grape-fruit, $2.503.5O; ba
nanas, 5c per pound, crated &Hc
ROOT VEGETABLES Turnips. $1.75. per
sack; carrots, $2 per sack; beets, $2 par
sack; gnrllc, 8c per pound.
FRESH VEGETABLES Artichokes, 60r
7Se per dozen ; apnragus, 10c per pound ;
beans, nominal, 85c; cabbage, 2Hc per
pound; celery, $1.25 per dozen;- corn, 2533c
per dozen; cucumbers, 10 15w per dox.; egg
plant, Sc pound ; lettuce, head, 25c per
dozen; lettuce, hothouse, $1.50 per bcx;
okra, 10 12c per pound; onions, 16(5 20c per
dozen ; parsley, 20c pr dozen ; peas, 4 Q 5c
per pound; peppers, 10 1 lie per pound;
pumpkins. 1&2c per pound; radishes, 20c
per dozen; rhubarb, 3Hc per pound; Bpln
ch. 0c per pound; squash. 50c4f $l per box,
tomatoes, BO-QmOc. pe,r crate; hothouse, $2-50;
sweet potatoes, 4c per pound.
ONIONS $2.2592.50 per hundred.
D3IED FRUITS Apples, 88Ho pound;
apricots, lti19e: peaches, 11 13c; pears,
llH14c; Italian prunes, 2H6o; Califor
nia figs, white, in sacks, 5t364c per pound:
black, 4 M 3 5c; bricks, 75c$2.25 per box;
Smyrna, 18320c pound; dates. Persian
POTATOES New, $11.25 per hundred.
Groceries. Nnta. Etc.
RICE Imperial Japan, No. 1, 6c; South
ern Japan. 6.10c; head, 7 He
COFFEE Mocha, 24 28c; Java, ordinary,
17 20c; Costa Rica, fancy, 1820c; good, 16
-18c; ordinary, 12316o per pound. Columbia
roast, cases, 100s, $14.50: 50s. $14.75; Ar
buckle, $16.50; Lion, $13.75.
SALMON Columbia River, 1-pound talis.
$1.75 per dozen; 2-pound tails, $2.40; 1
pound flats, $1.10; Alaska, pink, 1-pound
talis. 95c; red, 1-pound tails, $1.25; sockeyes,
1-pound talis, $1.70.
SUGAR Sack basis, 100 pounds, cube,
$6.12 ; powdered. $6 02H ; granulated.
$5.87 H; extra C. $5.67 H; golden C. $3.27 H;
fruit sugar. $5.87; berry, $5.87 hi; XXX,
$5.77 H. Advance sales over sack basis as
follows: Barrels, 10c; H barrels, 25c; boxes,
60c per 100 pounds. Terms: On remittances
within 15 days deduct 4c per pound; If
later than 15 days and within 30 days, de
duct He; beet sugar, $5.77V4 per 100 pounds;
n.aple sugar, 15&18c per pound.
NUTS Walnuts,' ldHO'iJOe per pound by
nek; Brazil nuts, 19c; filberts, 16c; pecans,
gumbos, 23c; extra largo, 21c; almonds, 18U
20c; chestnuts. Ohio, 17?; Italian, 1460
15c; peanuts, raw, 6(S44jc per pound;
roasted, 10c; plnenuts, 30312c; hickory
kuts, 10c; cocoanuts, 35 90c per do sen.
SALT Granulated. $14 per ton; $2 per
bale; half ground, 100s, $10.50 per ton; 60s,
$11 per ton.
BEANS Small white, 8c; large white.
8c; pink, 8c; bayou, 3c; Lima, 6c; Mexi
cans, red, 4c.
HONEY Fancy. $3. 23-2 3. CO per box.
Provisions and Canned Meats.
BACON Fancy breakfast, 22c pound ;
standard breakfast, 11) Vs c ; choice, 16 He;
English. 11 to 14 pounds. lHc; peach, 15Vac.
HAMS 10 to 11 pounds, 16c pound; 14 to 16
pounds, 15Hc; 18 to 20 pounds, 15Vjc; picnics,
11 He; cottage, 13c; shoulders, 12 He I boiled,
SAUSAGE Bologna, long, 8c; links, 7c
BARRELED GOODS Pork, barrels, $20;
haif-barrelB, $11; beef, barrels, $10; half
DRY SALT CURED Regular short clears,
dry salt? 12c; smoVed, 13c; clear backs, dry
salt, 12c; smoked, 13c; clear bellies, 14. to 17
pounds average, dry salt, none; smoked,
none; Oregon exports, dry salt, 13c; smoked,
LARD Kettle rendered: Tierces, 12c;
tuba 12c; 60s. 12Hc; 2o, l2c; 10s. 13c;
6s. 13Hc; 3s, 13c. Standard pure: Tierces.
11c; tubs,. llHc; 60s. HV4c; 20s. llc; 10s.
11 He; 6a. HHc. Compound: Tierces, 8c;
tubs. 8c; 60s. 9c; 2fV, 9Hc; 10s, 9Hc; &s.
66 5 He; car lots, 6s; new, 5c pound.
Hops, Wool. Hides Etc.
HOPS 4tffflc per pound, according to quality.
WOOL Eastern Oregon, average best, 16
22e per pound, according to shrinkage;
Valley, 20 22c, according to fineness.
MOHAIR Choice, 29 30c per pound.
CASCARA BARK Old, less than car lots,
65Hc; car lots, 6c; new, 5c per pound.
HIDES Dry, No. 1, 16 pounds and up, 18c
per pound; dry kip, No. 1, 5 to IS pounds. 18
&l(ic per pound; dry calf. No. 1. under 5
pounds. 20c; dry salted, bulls and stags,
one-third less than dry flint; culls, moth
eaten, badly cut, scored, murrain, halr
sltpped, weather-beaten or grubby, 23o
per pound less; salted steers, sound, 60
pounds and over, 8c pound; steers, sound,
60 to 60 pounds, 80e pound; steers, sound,
under 50 pounds, and cows, 8 9c pound ;
stags and bulls, sound, 6H6c pound; kip.
sound, 15 to 30 pounds. 89c pound; veai,
sound, under 10 pounds, 11c; calf, sound,
under 10 pounds, 11 12c pound; green (un
salted), lo pound less; culls, lo ound less;
sheepskins, shearings. No. 1 tmtchers stock,
2330c each; short wool. No. 1, butchers'
stock. 50 60c each; medium wool. No. 1
butchers' stock, $1. 25(21.50 each; murrain
pelts, from 10 to 20 per cent less, or 13gH4o
pound; horse hides, salted, accarding to
size, $2 2.50 each; hides, dry. according
to size. $l)l-60 each; colts hides. 20 50c
each ; goatskins, common, 15 25c each ;
goatskins. Angora, with wool on, 30c $1.50
FURS Bearskins, aa to size. No. 1, $5
20 each; cubs, $133 each; badger, prime, 23
50c each; cat, wild, with head perfect,
S050c; cat, house, 5'S,20c; fox, common
gray, large prime, 5070c each; red, $35
each; cross. $5fJ15 each; silver and black.
$lO03O0 each; fishers. $58 each; lynx.
$4.G0 each; mink, strictly No. 1, accord
ing to size. $1(&3 each; marten, dark north
ern, according to size and color. $10 15
each ; pale, pine, according to size and
color, $2.504 each; muskrat, large, 1215o
each; skunk,- 80 40c each; civet or pole
cat, C15c each;' otter, for large, prime
skins, $610 each; panther, with head and
claws perfect, $2gi5 each; raccoon, for
prime, large, 50 75c each; wolf, mountain,
with head perfect. $3 50 5 each; prairie
tcoyote), 60c$l each; wolverine. $68
PORTLAND LIVESTOCK MARKET.
Prices Current Locally on Cattle, Sheep and
A big bunch of Valley Iambs came In
yesterday in transit to Wyoming and Colo
rado rangea The market for cattle and
good sheep was strong and hogs and lambs
were steady. Receipts .were 137 cattle. 240
sheep, 72 hogs. HO calves and220O lambs.
The following prices were quoted in the
local market yesterday:
CATTLE Best steers, $3.854; medium,
$:i.25(fr3.30; cows, $3; fair to medium cows,
$2. 23 '(i 2 73; bulls, $2$ 2.30; calves. $45.
SHEEP Good sheared, $44.23; lambs.
HOGS Rest. .75fg7; lights, fats and
Heavy Cloning: on London Storks.
LONDON, Aug. 23. Supplies of money
were easier to obtain In the market today.
Discounts were easy with brokers taking
bills more rreely. Americans experienced a
steady morning at a fraction over parity.
In the afternoon the New York advices
caused a heavy feeling and the market
closed weak at a fraction above the worst
of the day. Copper shares eased with the
price of the metal.
Prices Again Hammered Down
in Stock Market.
LOSSES ARE GENERAL
Firmer Grain Markets and Cutting
of the Dividend on Southern Rail
way Preferred Used to De
press the List. '
NEW YORK. Aug. 23. Business was In
significant at the opening of the Stock Ex
change. Prices were unchanged to slightly
lower. Buying to cover caused a rise In
Union pacific to yesterday's closing- Other
important stocks rallied half a point.
The market continued dull with unimpor
tant fluctuations with Reading and Union
Pacific, the most frequently sold. Dealings
were greatly restricted after noon.
prices were about unchanged until I
P. M., when spasmodic selling caused sharp
depresnions.. Union Pacific fell 2 below
yesterday's closing. Northwestern 1.
Smelting and Amalgamated 1H. Southern
Pacific and Great Northern preferred 1.
The announcement of a reduction in tne
semi-annual dividend on Southern Railway
preferred from 2H to 1H caused a loss of
three points in this stock.
Bears concentrated their attack against
Reading, Union Pacific and Amalgamated,
and dislodged considerable stock. Reading
and Northwestern fell 4, Union Pacific 3,
Great Northern preferred and Amalgamated
2H. Southern Pacific, Northern Paciric
Smelting 2 to 2H-
The closing was active and weak at the
lowest prices of the day.
The following report of the New York
ntock market and the range of prices was
received by private wire to the Overbeck
& Cooke Company, of this city:
New York, Aug. 23. The bears were
again in control of the stock market and
hammered the list to their utmost. The
bears were stimulated by the strength In the
grain markets and the cutting of tne divi
dend ,on Southern Railway preferred, which,
although expected, was used as a bear fea
ture. Call money was somewhat firmer,
and in view of the recent reversal, today's
decline should not be regarded as startling.
The bank statement tomorrow will not per
haps be very favorable. Considerable
stocks were bought at the prevailing prices
and undoubtedly much is being picked up at
these figures. The market Is to be regarded
as a flcalplng affair, with stocks a good pur
chase on declines such as we have witnessed
for two days past.
CLOSING STOCK QUOTATIONS.
Open! High Low Close
Amal. Copper Co
Amer Car & F.. c. . .
Amer. Cotton Oil. c. .
Amer. Logo., com. . .
Amer. Sugar, com. . .
Amer. Smelt., com . . .
Anaconda Mining Co.
Amer. Woolen, com..
Baltimore & Ohio, c.
Brooklyn Rapid Tr. .
Canadian Pacific, c. .
Central Leather, c . .
Chicago & Gt. W- c.
3T I 3BV4
2 7 93
1 c I.
Chi., Mil. & St. P
Chicago & N. c
Chesapeake & Ohio..
Colo. Fuel & Iron, e.
Colo. Southern, com.
do 2d preferred. . . .
do let preferred . . .
Delaware & Hudson
Denver & Rio G., c .
do 2d preferred. . . .
do 1st preferred . . .
Great Northern, pfd..
Louisville & Nash
Mex. Central Ry. ...
M., K-. & T.. com
M.. K. & T., prfd
N. Y. Central.
N. Y., O. & W
N. & W. com
Nor. Pacltic com....
P. G.. L. & C. Co
Pressed Steel Car c.
Readlnjr common ....
do. 2d preferred . . .
do. 1st preferred...
Rep. I. A S. Com. . . .
Rock Island common.
Sou. Pacific com. . . .
Texas & Pacific
T., St. L. & W. com..
Union Pacific com...
U. S. Rubber com....
V. S. Steel com
Wabash common ....
u 1 1
Total sale, for the day. 440.000 shares.
V. S. 2s rrg...
do coupon . . .
TJ. S. 3s reg . . .
do coupon. . .
U. S. 3e small.
6 U. S. 4s res;.... 27
6 I do coupon. 27
8;D. C 113
1, Philippine 4s 109
TRADE ON FIRM BASIS
BUSINESS CONDITIONS SOUND
THE COUNTRY OVER,
Wall Street Alone Suffers for Lack
of Funds Because Capital Is Put
to Better Uses.
CHICAGO. Ausj. 22. The Commercial Na
tional Bank of this city today Issued a crop
and business report that summarized the re
plies received from 30,000 correspondents in
banking, manufacturing and merchandise lines
on general business conditions. The object of
the bank's querlee waa to receive an answer
to the question which is in all minds, "la the
business situation sound end the outlook
assuring?" The report says in part:
The overwhelming preponderance of evidence
Is that the business situation is sound and
satisfactory. Not one of the thousands of
replica negatives this- conclusion In definite
terms. That there has been a marked easing
down from the tension of the Spring and
Winter months of the year Is generally admit
ted, but It is admitted without a trace of
rearet or mieglving. The country has been
rushing ahead at a whirlwind pace until the
tax on credit and capital accumulations com
pelled a respite. The demand for good to
meet instant needs, or to replace other goods
destroyed by wars and calamities, or to pro
vide for the certain needa of the future, haa
been unprecedented. To meet this it has been
nocessary lor the manufacturers and distribu
tive agencies of the entire world to employ
almoM every available unit of money and to
put Into action every potentiality of credit.
The result la too familiar to all men of affairs
to need exposition. The strain on the money
centers of the world has been very great.
In ordinary times the stringency of one coun
try Is offset or relieved by the plethora of
another, through the commonplaces of the
mechanism of exchange. But it has been dif
ferent since the Peace, of Portsmouth. There
Is no easy money In the civilized world today.
To suggest an Idea of the urgency of the
demand for capital to expand and equip the
productive capacity of industry eo that it may
be on a par with the fast-increasing con
eumptive demand for the things of modern
life, we call attention to the world -phenomenon
of stagnation in the purely speculaiiv
department of affairs. Recently we have seen
a record low price for the British consoli
dated debt "Consols" indicating that the re
wards of capital in Industry are so attractive
as to prompt withdrawals of funds even from
the acknowledged chief of investment securi
ties. The same phenomenon In its application
to the funded loans of all governments ex
cept our own and for this there la a special
and artificial reason and In lis application to
the bonds and shares of the exchanges,' la a
further light on the tension which Is every
where felt in money affairs.
It Is a curious and striking faot that In all
the thousands of replies which enter into the
picture of the business situation before urn
there Is hardly a reference to the speculative
lethargy which contributes so large a part of
the "news' from day to day. And yet it .Is
a truism familiar beyond need of mention
that the security markets exist merely as
governors of the supply of mobile capital. Of
necesssity their activity must decline when
economic forces drain from their stocks of
stagnant capital. When the mobile capital of
the world is needed in productive enterprise
or In distributive service It must necessarily
desert the Stock Exchange, and security spec
ulation must inevitably wane before the ne
cessities and overtopping importance of indus
The bankers of the country, with few excep
tions in the Far West, report an extraordinary
demand for funds in all lines of business
activity. Interest rates are very firm every
where and in the central reserve and larger
reserve cities the inquiry for funds so much
exceeds the supply that money la described aa
"very tight." It is significant that the states
of primary production In agricultural and
mineral products show a larger margin of
deposits over loans than the Btates of sec
ondary production, that Is, the essentially
manufacturing and trading communities. .
The concensus of opinion la that the de
mand of legitimate business will continue to
absorb all available funds for some time to
come and there is "nothing In our review to
suggest any recession In rates, at least not
before the year-end liquidation.
Our reports are unanimous in saying that
the prosperity In every line of business during
the last year has been superlative. The vital
question which , every one Is asking has to do
with the future. Broadly speaking the entire
credit fabric of the modern world rests on
commodity transfers, at such time in the
future as ihe trade customs of the community
dictate. The eaiabillty of the commodities
underlying credit transactions Is therefore a
matter of the utmost moment. Salablllty In
volves a complex train of elements and con
ditions which must be studied before any con
clusion -can be drawn as to the soundness of
the credits against the goods.-
Prices involve material and labor cost and
an increment on the capital employed, and all
these-things obviously enter into the elements
of liability which Is the crux of credits
based on commercial operations. Moreover the
purchasing power and consumptive capacity
of buyers are weighty factors in judging
the soundness of credits.
The reports we have received Indicate that
by all the tests we have mentioned the credit
situation on which all else finally d-epends is
sound. It appears that there is a tendency In
many lines to take a slower pace than we have
been accustomed to see.
Boston Stock Market.
The condition of the Boston stock market
was reported by the overbeck & Cooke Com
pany, of. this city, as tollows;
Today's market sagged from the start and
lacked the short covering which gave It so
much strength yesterday. There was nothing H
of Importance. The stringency of the money
market is more pronounced each day, making
It very easy for the bears to attack prices
every time they are marked up. Towards the
close Reading was heavily sold for shor ac
count and this unsettled the whole market.
We ought to get a rally tomorrow on short
covering if nothing else.
Money, Exchange, Etc
NEW YORK. Aug. 23. Call money, firm at
Time loans. 60 days, 6 per cent; 00 days, 6-g;
64 per cent. Prime mercantile paper, 63
6Va Per cent.
Sterling exchange, easier.
Railroad bonds, heavy; governments, steady.
Bar silver, 674c:
SAN FRANCISCO, Aug. 23. Sterling ex
change, 00 days; $4.82; sight. $4.86; doc,
Transfers, telegraphic, 5 per cent premium;
sight, 2 per cent premium.
Aug. 23. Bank rate, 4H P
Currency Transfer to the West.
NEW YORK, Aug; 23. The sub-treasury
today made the first considerable transfer of
currency westward for the movement of crops
and other needs. Half a million dollars were
sent to Chicago and a similar amount to San
NEW YORK, Aug. 23. Lsad. easy, 5.06
Lake copper, weak, 1RU lftc.
John Wels to Meta Weia. land be
ginning at point 160 rods AV. and
fcO rods S. of N. E. corner of sec
S, township 1 S., range IE t 1
William M. and Edna E. Lancaster
to Truman Delano, lots 15. lo.
block 2o, Mt. Tabor Villa 6KI0
Theodore Bernhelm Tr. to Mary Bry
dle. lot 3. block 9. Council Crest
M. C. and Mary E. George to W.
P. and R. J. L-ewi., part of lot 1,
block 65, and of block HI, Carter's
Addition, containing 11,316 square
Portland Realty & Tr. Company to
Allan and Florence MacDonald,
lot 4, block 4. Sewickley Addition BOO
Francis C. Little to John P. Simp
son. W. of lot 12, Gardena 1
George S. and Mary A. Allen to S.
B. Barker, lot 8 and W. of lot
7. block 15. Holladay Park Addition 6,150
S. C. and Hattie E. Priestley to G.
T. Hcdrick, lota 1 to 6, block 6,
Hedrlck's Addition 28
J. R. and Neta Cawthorn to G. T.
Hedrick. lot 1. 5, block 2, Hed
rlck's Addition 10
Portland Realty & Trust Company
to John Peterson, lots 13, 14, block
8. Evelyn 450
Joseph and Maria Damm to August
Bernsee, E. of lot 4, block 16,
Portland Homestead - 1
G. A. Cobb et al. to George Weeks,
lots B, 6, block 22, College Place
Frank A. and Maud Meyers to T.
5. McDanlel, lot -124, Arleta Park.. 1,050
Henry and R. L. Freeborough to
James A. Freeborough, lot U, block
6, Taborslde 105
A. Edgar Beard to John Travesso.
lot 7, block 1. Eden Addition . 200
J. I. Morris to Llneaus A. Barthol
omew, lot 9, block 6. Stewart Park
Portland Trust Company to Richard
R. and Carrie Schneider, lot 1, -block
6, Woodstock ....r 500
O W. and Nellie Taylor to Catherine
Hofstrand, lot 11, block 1. S. Sun
David and Ella Goodsell to Grace
Zarbaugh, lot 8, block 1, Colum
bia Heights ''. 1
Henry and Bessie Barnett to C1iarle
J. Moo.'e. commencing at S. W.
corner of lot 1. block 250, Holla
dav Addition. 75xl0O feet 1,175
August Anderson and F. Josef Btener
aon to Arthur View, lots 3 and 4.
block 10. North Alblna 1,500
Mary Phelps Montgomery, executor
and trustee to M. P. Sorenson. lot
4, ilock 42, Original Townslta of
Alblna , 100
W F. and Pcsa Gurdott to Ralph H.
Billlngiley. undivided H of lot 12.
block 79, Sellwood 150
Arleta 1-and Company to Margaret
McMillan, lot 4. block 8. Ina Park 700
Moore Investment Company to Wil
liam R. and Mary J. Beckett, lot
16, block 50, Vernon 500
M. J. and Alma A. MacMahon to
Edward E. Lyon. S. V, of N. Vt of n
lot 9. Glenwood Park 2,500
United Ptaces National Bank to
Henrietta S- Pickett, lot 3. block 41.
Sullivan's Addition BOO
Julia E. Hunter and husband to Rob
ert T. Llnney, lot 6. block 30, Fair
C. H- and Marv E. Rodgera to Will
E. and Ollle J. Purdy, lot 1, block
27. Katherlne 1,500
C R Thompson et al to Sadie E. In
derbitzln. lot 9. block 14, Haw
thorne's First Addition 750
Egbert F. and Almeda Ferris to F.
L. Phull. lot B. block 147. city 24,000
B Lee Barnes to F. H. Lewis, lot
20. block 3. FaVfleld 1
E M- and Maude Rasmussen to W. M.
Gateni, lot 11. block 1, First Ad
dition to Holladay Park Addition 2,500
William J and Prlscllla J. Standley
to Margaret Mackenzie. W. H of
Tract "C." Grovers Addition 450
T H and Flora A. Vaughan to
E. E. Miller, lots 12 and 13. block
2. Highland Schohouse Addition 2.200
Edward F. and Nellie D. Conical to
Nicholas and Merlin Eonoodt, lot
6. "block 5, Simon's Addition... 1,850
Moore Investment Company to J. P.
Miller, lot 17. block 3S. Vernon 850
Title Guaantee & Trust Company to
Tena Saunders, E. H of lots 2 and
4, block 8, Lexington Heights... 400
Moore Investment Company to L. R.
McGlnnls. lots 1, 2. 3 and 4, block
57, Vernon 625
Have your abstracts made by the Security
Abstract & Trust Co.. 7 Chamber of Commerce.
Aberdeen Box Factory Sold.
ABERDEEN, Wash., Aug. 23. (Spe
cial.) The Aberdeen box factory, , -which
went into the hands of a receiver some
time ago, has been sold to B. F. Johnson,
of the American Mill Company, tor
J. C. Ainsworth, President. R. W. Schmeer, Cashier.
R. Lea Barnes, Vice-President. A. M. Wright, Asst. Cashier.
W. A. Holt, Assistant Cashier.
The United States National Bank of Portland issues
Foreign Drafts on all cities of the United States
and Europe, Hongkong and Manila, payable in
the currency of the country on which they are drawn.
Capital : $ 500000
Surplus and Profits 375,000
Total Resources Over 9,000,000
, SUPERIOR ASSETS
FOR BANK OR INDIVIDUAL
Of the depositors of the Oregon Trust &
v Savings Bank would gladly accept Home
bonds for their deposit if they could get
same. Personally, I am willing to take any
Home bonds at par with 50 per cent stock
"bonus for all my balance in that institution,
and I will guarantee that at least two hun
dred thousand dollars more will be taken
by other .depositors on the same basis.
Don't get worried about the Home Bonds.
If the total deposits were in these securities
I could pay.everybody in full single-handed.
You cannot force the sale of Government
bonds or a choice piece of real estate in a
minute's notice. Be prudent and patient,
and reserve your judgment.- The Home
Bonds will more than hold up their end.
Louis J. Wilde
Cash Price Par, With
50 Per Cent Stock
European Orders for Wheat
Are Very Large.
CHICAGO MARKET IS. FIRM
Prices Open Higher on Foreign Ad
vance and Close Near the Top.
May Yet Sell Over the
CHICAGO, Aug. 22. The . grain market
were all strong today. There was a good de
mand for wheat and the May option again
passed the dollar mark.
The strength in wheat was mainly a reflec
tion of the advance In foreign markets, aided
by some unfavorable weather news and a
very satisfactory volume of export orders, both
in this and the Northwest markets. The Sep
tember delivery opened V4c over last night's
close at 88c, sold up to 90c and closed at
SOHc. December opened at 94c and closed
with a gain of Vic The highest point touched
by May wheat was 1.01Vi, which was reached
about the middle of the session. This month
closed at t.00.
Corn was strong throughout the day and
at the close September was up 2c and De
cember 2c. i
Oats, while firm, did not show as much
strength as the - other grains. September
closed c and December e higher.
In the provision market September pork
closed 'unchanged and September lard 7ic
The following report of the Chicago market
and range of prices was received by the Over
beck & Cooke Company, of this city:
CHICAGO." Aug. 22. There was a bull
wheat market today without a corresponding
amount of news. The bull feeling returned
at the opening because of the action of the
Liverpool market. The Northwest markets
were strong. Some of the foreign buying or
ders were filled in this market. Shorts were
Third and Oak Streets
active buyers and Northwest sellers of yester
day turned good buyers. Winnipeg confirmed
reports of frost damage to wheat in that sec
tion the night of the 2flth.
The leading futures ranged as follows:
Open. High. Low. Close.
Sept 8Si .nn ,rs4 .sn
Dec at .05 .9.1 H .94'.
May 99 1.014, .99 Bl.00
PPt. .(19 .SflTi .RS44
Pc M -Sfl'i .S4H .SI
May 55 !4 .58 .55 . .88
Sept 50 .51 H " .494 .50i
Dec 47 .48. .47
May 48 44 . .49 54 .48 44 .49 44
Sept 15.95 16.00 15.90 15 95
Oct i.v 95
Jan -15.05 .
Sept 895 9.0244 8 95 9.03ii
Oct 9f744 Bis 9.0744 9.1244
Jan 8.5244 8 6 8.50 8.60 '
European Grain Markets.
LIVERPOOL. Aug. 23. Wheat September
closed yesterday at 7s 3d, opened today at
7s 8'.4(1. and closed today flt 7s 4d: Decem
ber closed yesterday at 7s 64d, opened today
at is 6d and closed today at 7s 7d.
Kngllsh country markets. firm. French
country markets, quiet but steady.
Grain at San Francisco.
SAX FRANCISCO. Aug. 23 Wheat De
cember closed at fl.5344 per cental bid, .1.5344
per cental asked.
Barley December closed at 1.34 per cental
May, Jl.S6?i per cental bid.
New York Cotton Market.
The range of cotton futures at New York,
Ulldl Utlilll v
reported by the Overbeck A Cooke Company,
Open. High. T.ow. Close.
January 12.00 12.18 12.04 12.1T
February .... .... 12.2o
March 12.26 12.27 12.15 12 2ii
May 12.34.. 12.35 12.38 12. M
August .... 11.25
September 11.22 11.33 11.20 11.32
October 11.8T Il.W 11.82 11.94
November 11.92 11.98 11.92 11.98
December 11.99 12.08 11.95 12.07
Quit for Better Pay.
CHEHALIS, Wash.. Aug. 23. (Special.)
A gang of 35 Hungarians who have been
working here for the Northern Pacific
quit yesterday and Will go to King County
to work for the Milwaukee on Ita new
line. The Northern Pacific has been
paying the men J2 a day and they are to
get $2.50 on the Milwaukee.
Of all lunacy, 24 per cent Is from hereditary
V-tix i i n A i
s FYTIIR winW.
S. S, Umatilla - 2(1
President SeDt- -
S. S. Senator Oct. T
S. E. ALASKA ROUTE.
Sailing from Juneau for
Skagway, Sitka. Juneau and way ports.
Sailing 9 P. M.
H.S.S. Co -s Humboldt.. .Aug. 22. Sept. S. 14. 25
City of Seattle Aug. 27. Sept. 8. 20
Cottage City, via Sitka Aug. 29 Sept. 12. 21
SAX FRANCISCO ROUTE.
Sailing 9 A. M. from Seattle.
Spokane Aug. 23. Sept. 7
Sonoma Aug. 28
City Puebla Aug. 80
President ' SePt. 2. 17
City Office. 249 Washington St.
September 11, 12, 13.
Chicago and return, $71.50.
St. Louis and return, $67.50.
St. Paul, Minneapolis, Duluth, Su
perior, Winnipeg and Pt. Arthur and
3 TRAINS DAILY 3
For tickets, sleenintr-ear reserva
tions and additional information, call
on or address II. Dickson, C. P. and
T. A., 122 Third St., Portland, Or.
Telephones Main GSO, Home A 228(5.
Weekly Frclph and Paanenffer
Sen-ice of the Fine Stearanhlp
Leaves PORTLAND every Monday, 81OC
P. M., from Oak-street Dock, for
EMPIRE, NORTH BEND
Freight Received Till 4 P. M. on Day
FARE -From Portland, 1st - class.
C10.0O; 2l-clas, 7.(M), including; bertb
Inquire City Ticket Office, Third and
Washington sts., or Oak-street Dock.
PORTLAND AND Pl'GET SOUND ROUTE
Sailing from Couch-street dock. Portland,
for Seattle. Tacoma, Everett and Belling
ham, August 14 at 6 P. M.
Connecting at Seattle for Nome, Golo.
ntnln. St. Michael. Chena and Falrbankl
with steamers Pleiades. Hyade,, Lyra, Mack
8chubach & Hamilton. General Agents,
F. P. Baumpartner, Aeent. Portland.
Phones: Main 801; Home A 4161.
Ho! For Astoria
Round trlp daily (except Thursdays)
7 A. M. Landing, Alder-street
Dock. Phone Main 585.
Leaves Sunday at 8 A. M. Round
North Pacific S. S. Co's. Steamship
Roanoke and Geo. W. Elder
Sail for Eureka, San Francisco and
Los Angeles direct every Thursday
at 8 P. M. Ticket office 132 Third
St., near Alder. Both phones, M
1314. . H. Young, Agent.
SAX FRANCISCO & PORTLAND S. S CO.
Only Direct Steamers to San Francisco.
Only Steamers affording daylight trip
down the Columbia River.
From Ainsworth lock, Portland, 9 A. M.
S. S. Costa Rica Aug. 2S. Sept. 3-
S. S. Panama Sept. 3, 13
From Kpear-St. Wharf, Kan Francisco.
S. S. Panama Aug. rtept. y, 21, etc.
Si. S. Costa Rica Sept. 3, 15, 27, etc.
JAS. H. DEWSON, Agent,
24S Washington St.
Phones Main Ms; Home. A 291.
WILLAMETTE RIVER ROUTE
Steamers Pomona and Oregona for Salem
and way landings leave Taylor-street Docs
6:45 A. -M. daily (except Sunday).
Oregon City Transportation Company
Phone -H). A 231.
SIR. CHAS. R. SPENCER
Dally, except Sunday, for The Dalles and
way landings, at 7 A. M., returning 10 P.
M- Fact time, best service..
Fbones: Mali. 3184; Home, A 1184.
Columbia River Scenery
KEGtLATOR LINE STEAMERS.
Dally pervire between Portland and The
Dalles, except Sunday, leaving Portland at
7 A. M.. arriving about S P. M., carrying
freight and passenger?. Splendid accommo
dations for outfits and llvestork.
Dock foot of Alder St.. Portland : foot of
Court Bt.. The Dalles. Phone Main 914,
C. GEE WO
Root and Herb
Has made a life study
of roots and herbs, and
In that study discovered
t , , i . i ... ik.
anu 1" gtwuB l'J
No Mercury. Poisons or Drai: Used Ma
Cures Without Operation, or Without tha
Aid of the Knife. He guarantees to cure
Catarrh. Asthma. Lung, Throat, Rheuma
tism. Nervounnt-fs, Nervous Debility. Stom
ach. 'Liver Kidney Troubles; also Lost Man
hood. Female Weakness and All Prlvata
A SURE CANCER CURE
Jnst Received from Peking, China Safe,
Sure and Reliable. IF VOU ABB AF-FI.ICTra.-.
ION"T DELAY. DELAYS ARB
DANOEROl'3. If you cannot call, write for
symptom blank and circular. Inclose 4
cents In stamps- CONSULTATION FREE.
The C. Gee Wo Chinese Medicine Co.,
102 Vi First fit.. Cor. Morrison, ,
pleabe Mention This Paper.