Morning Oregonian. (Portland, Or.) 1861-1937, July 21, 1909, Image 17

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Morning Oregonian., July 21, 1909, Page 17, Image 17

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Newspaper Page Text11 THE MOUSING OKEGOX1AN, WEDNESDAY, JULY 21, 1909, NEW WHEAT PRICES Definite Values to Be Fixed Within Few Days. IMPORTANT DEALS PENDING Preliminary Figures May Be but Little Changed Actual Motc- ment of Grain W ill Soon Bo Cnder Way. The consummation of Important deala tn new wheat local exporters expect within the next few day will definitely establish open ing raluea on the comlnff crop. The figures riven out by the export trade this week were tn advance of actual business, and were at best an approximate of real Taluea, That they were not Tory far. however, from the prices that will rule when the move ment of the sraJn la actually under way, is the belief of same members of the trade. From this time on Interest In the wheat market will be strong. While other grains will en-ae the attention of traders In a larr way. wheat will be the great factor in the cereal trade. News from the inter ior Indicate that the harvest Is well under way and that tha farmers are as bullish as ever regardma the futnio of the market. That there la good ground for the position taken by the producers la more or less generally conceded. The latest Issue of the Commercial West, of Minneapolis says of the wheat situation in general t A Ftronir factor m th -tnt1on. H nmst be confessed, is the big bull house In Chl cajro and Its following that has so long largely domtnated the market. Yet back of their operations Is the world's position, which must be conceded by every one as being exceedingly strong. Thus consumption of wheat the world over has overtaken pro duction and It is already apparent that at the end of the new crop season, or, say 12 months hence the world will not have a surplus of breadstuff, and economy of con sumption will doubtless have to be prac ticed In some of the Importing conn tries to prevent an actual shortage. In this connexion, the irmortisg coun tries of Europe have their attention cen tered upon Argentina. For six years, up to the last crop season. Argentina increased Its wheat crop each succeeding year, and as that country had previously been a very uncertain one, owing to climatic conditions and poor methods of agriculture, the grain trade of the world annually erpected a crop failure or serious crop shortage. Last sea port came the flrwt intimation that the coun try hud not become a reliable producer. The drouth previous to and during the pres ent seeding season, which has caused a greatly reduced acreage, seems to indicate that the long-expected crop calamity Is like ly tn be a reality. Sui-h a shortage coming at a time when the world is already short of supplies, the rrTeot on the Importing countries of Europe Is almost sensational. Owing to Europe's depending upon Argentina to piece out the Interval between crops In the Northern Hemisphere, a shortage there means more than It would in any other country. It may rvnwnRMv he expected that setback In price from the present level will meet with good buying from the United Kingdom, and that when the movement of Winter wheat Is fairly under way, Germany will be a good buyer. WATERMEI.OX TRAD IB DEMORALIZED Fm It Now Selling Under a Cent a Found. Cantaloupes Are Finn. The watermelon market went completely to the bad yesterday. Even with the weath favorable It was Impossible for dealers to move more than a portion of their stocks. Liberal arrivals from the South were re ported, and the prospect Is for heavy re ceipts for at least a week to come. New record low prices were made when one of the leading dealers quoted 80 cents a hun dren for small or large lota The betlef was expressed that still lower prices could be expected next week. Cantaloupee held steady to firm at (S to 99 26 a crate for the best stock, and wtth lighter receipts from this time on. the pros pect Is for a well supported market to the snd of the season. Probably not more than three or four cars of cants are now rolling this way. More peaches came In Monday and yes terday than durlnsT the whole of the preced ing week, and Improvement In the quality of much of the fruit was one of the features of the market. California Crawfords were much in evidence, selling at $1.10 to 11.25 a box, wh l le Boat h ern Oregon A lexan d era tnoved from T5 cents to II. For the remain der of the season there will be no scarcity of peachea. Oregon Crawfords are not ex pected before early in August. Fruit-dealers estimate the peach crop of the Willamette Valley this year at T3 to 0 per cent of a full yield, with quality well up to the average. nK of the mountains the prospect Is for a light output, and It Is said that the state of Idaho will not ship a carload of the fruit this season. There were Loganberries enough for the demand on the street yesterday, and the be ofTerinrs mid at l.V a crate. Flack caps, raspberries and other small fruits moved at the last quotatlona MARKET OVERLOADED WHU COWS. Steen Hold Their Own Moderately Well Hosts tn Good Desnaad. Cattle rerelpta at the local yards for some days have shown too large a proportion- of cows, and the result Is a weaker lone for the time In that line. Dealers yesterday reported, steers holding thetr own moderately well at the quotation that have prevailed for aeveral days, wtth cows tend ing to drag. No price changes, however, were announced. Beef material Is and for week has bees plentiful, and one of the features of the mar ket Is the abeence of quality stock. The rattle at the yards today were for the most part fair to rvii - nothing tn sight that could be graded as prime. With the ranges In this and adjoining states dry ing up. there la little prospect of any ma terial Improvement in the quality of the of lerlnffs In the near future. Sheep are doing slightly better than a week or tuo ago. the result of Improvement tn jhe quality of the late offerings. In both theep and lambs. This Is usual at this time Df the year. With the market well supplied, prices have undergone no change as yet. but the outlook for the future Is rather fa vorable Livestock dealers report a marked scar t!ty of hogs in all sections of the N'orth fcest. and the few porkers that come In from time to time are usually such as would not be considered marketable In the Middle ft' est. So far as known, no Important ship ments of ' pork materials are headed this aav at this time. The packers are bringing In their usual shipments from the other side f the Rocky Mountalna But for these there would be a famine In the local pork narket. Receipts yesterday were ZS9 cattle and S5T ibeep and lambs. Local prices quoted yesterday were as ?oi!ows: CATTLE Steers, top.- 4 50; fair to good. ?44?5; mmon. S3 75 4; cows, top. 13.30; fair to good. S3 $3.25; common to medium. $2 50 ft 2.73; calves, top. 455 Q 5-50; heavy, l3.A0.f4-: bulls and stags. f J 73 8 3 23; com mon, $;X50. HOGS Beat. S? 2r. ft Sft; fair to good. S7-75 tT : stockers. $ -tf 6 30; China fats, SHEEP Top wethers, JM; fair to good, a.30 33 75; ewes fee lean an all grades; yearling, best, S4; fair to good, S3.503-75; Spring lamba $5.25 5-35. BUTTER WELL ADVANCE SHORTLY. Conditions Ripe for Another Lift In Prices, 8o Maker Say. The local butter market underwent no change yesterday, but that quotations will be lifted before the end of the week Is a mat ter of general belief. Range conditions In all the dairying districts of the state are stead ily growing worse and production la natural ly falling oft. Meantime there Is no appar ent abatement In the demand. The cheese market likewise shows strength, but there Is leas likelihood of an advance In this line In the near future. Local dealers Incline to the belief that pres ent quotations will hold for a week or two at least. Poultry dealers reported moderate re ceipts yesterday and a fair movement of stock, for the most part at last week's prices. Fancy hens and good Springs were moat In demand, but there was some Inquiry also for young ducks and geese. Eastern stock now figures largely In the egg trade and will for the remainder of the season. Fresh focal were quoted at 27 to SS cents on the street yesterday and the market on the whole was steady to slow, with a decline In the near future predicted In some quarters. Dealers In country-dressed meats reported a good demand for fancy pork and Teal, es pecially the former, which Is now coming In very sparingly. Best quality hogs moved at 10 to 11 cents a pound, and fancy veal at 9 cents. Three Car of Bananas In. Three cars of bananas were received yes terday, the bulk of the shipment being In good condition. Some unusually fine apricots from Cali fornia were a feature of the arrivals for the day. They were quoted at $1-30 a crate. There wore limited offerings of California pears on the street, the best selling at $2 a crop apples are coming In a fair way, the bulk of them for the time from California. Prices range from $1.50 to $2 a box. Fancy Burbank plums moved in a moder ate way at SJ.B0 a crate. Petite prunes from the South sold at 91.10 to $1.25 a crate. Grain Movement Still Ugfat. But little grain of any sort Is moving for the time. Yesterday's receipts, according to the Merchants Exchange, were 2 cars of wheat. 8 cars of barley, 0 of flour, of oats and 5 of hay. PORTLAND MARKETS. Grain, Floor. Feed. Etc WHEAT Track prices: Blue stem nom inal; club, L15; Valley. $L15; new crop: bluestem. $1.06; dub, $1; Russian, 98c; Valley, 8Tc , mnA CORN Whole, S35 per ton; cracked, $38 per ton, FLOUR Patent $6.25 per barrel ; straights. $3 30; exports, $4.70; Valley, $5.50; graham, $5.00; whole wheat, quar ters. $3.fe0. BARLEY New, $29030; September, $26. OATS No. 1 white. $42 per to. MILLS TUFFS Bran, $26 per ton; mid dlings, S.;3; shorts, 129032; chop. $24030; rolled barley, $34 0 35. HAY Timothy. Willamette Valley. $20 22 per ton; Eastern Oregon, $2123; mixed, $16rZ0; alfalfa, $14. GRAIN BAGS GHo each. Vegetables and Fruits. FRSSH FRUITS Apples, new California. $1.50t3 per box; pears. $2 per box; Grav en steins, $2.25 per box; strawberries. $3 per crate: cherries, 5 11c per pound; g; berrlea, 6c per pound; peaches. 7aotftl.o per box; apricot $1.2501.50 per box; canta loupes. $8 3 25 per crate; currants. 8c per pound; plum 1.25' 1.60 per box; nec tarine $1.60; loganberries, $1.25 4? 1.60 crate; raspberries. $l$pi.l6 per crate: blackcap $1.50 crate; watermelons Oc$l hundred; grape $161.50; blackberries. $2; wild biackberrle 9tfl0e per pound; artichoke eOc per doxen; celery, $1.25 per dozen. POTATOICS Jobbing price, $1 1.73 per hundred; new, 2'?2'ac per pound. SACK VEGETABLES Turnip 11.2S per sack; carrots. $1.60 & 1.75. TROPICAL FRUITS Orsnge navel $1..'0'& 1.75; Valencia $3(& 3.50; lemon fancy. $6,509 T; choice. $5 6; grape fruit, $3 per box; hananas. 6 tf 5 Ho per lb. ; pineapples. $2 9 Pr down. ONIONS New. $L25&I.50 per sack. VEGETABLES Beans, 6c; cabbage, 1H9 1 H per pound ; cauliflower. $1 per dozen; corn. 25 940c per doxen; cucumbers. 30Q40c; White Salmon cucumber $1 per doxen; egg plant. 12 Vt & 15c per pound; lettuce, hot house. 75c 6 $1.00 per box; lettuc, head, 25c per doxen; onion 12fe015c per dozen; parsley, .bbc per dozen; pea 69 7c per pound; pepper 80 lOo per pound; rad ishes, 15c per dosen; spinach, 5c per pound; squash, 5c; to ma toe 6Oc0$l.OO; hothouse torn a toe 6 8c Groceries, Pried Fruits. Eta, DRIED FRUIT Apples. 9o per Ib.j peaches, 7H09c; prune Italians. 6090; prunes, French, 4 6c ; currants, un washed. cae 9 c; currant washed, case 10c; fig white fancy, 50-lb. boxe Oc; date k 9 ' c. SALMOK Columbia River. 1-Ib., tall $2 per dusen; 2-lb. tall $2.05: 1-pound flat $J10Vt; Alaska pink. 1-pound tall 90c; red, 1-pound tall $1.45; sockeye 1 pound tails, $2. COFFEE Mocha, 24 928c; Java, ordi nary, 17 8 20c; COfta Rica, fancy, ISO 20c; good. 16018c; ordinary. 12k 016c per lb. NUTS Walnuts, 12 013c per pound bj sack; Brazil nuts. 16c; filbert 15c; pea nut 7c; almond 13 0 14c; chestnut Ital ian. 11c; peanut raw, bc: oinenuts, 100 12c; hickory nut 10c; cocoanut 90o psf ooree. IS l' GAR Granulated, $5.75; extra C, $5.35; golden C, $6.2i; fruit and berry sugar, $5.85; Honolulu plantation, fine grain. $6.26; cube barrel. $i.0; powdered (barrel), $s.fO; Term on remittances within 15 day de duct kc per pound; if later than 15 days and within $0 day deduct Ho per pound. Maple sugar. 15 13c per pound. SALT Granulated, $13 per ton, $1.90 pef bale; halt ground, 100 $7-50 per ton; 50 $S rer ton. BEANS Small white. 7c; large whit 6kc; Lima, 5kc; bayou, 6 Vic; red kidney, 4fec; pink, kc pro vision BACON Fancy, 25c per pound; standard, 21c; choice. 20c; English. 18019c DRY SALT CURED Regular short clear dry salt, 14c; smoked, asc. short clear black heavy dry salted, 15c; short clear back heavy dry salted, 14c; smoked. 15c; Oregon exports dry salted. 16c; smoked, lHAMS S to 10 lbs., 17c; 14 to 1$ lb, 17c; IS to 20 lb. 17c; ham skinned. 17o; picnic l!c; cottage roll. 13c; boiled ham 234y:44c: boiled picnics, 20c. LARD Kettle rendered. It lHc; 6 lc- standard pure: 10s. ic; 6s. 15c; choice. 10s. 14 c; 5 14 c Compound, lus. 9c. 5 9c. SMOKED BEEF Beef tongue each, COc dried beef sets. lc; dried beef out side I7r; dried beef Inside 2lc; dried beef knu.kle 20c PICKLED GOODS Barrels.: Pigs feet, $13; regular tripe, $10; honeycomb trip S12- rlK' tongues. $10.50. BARRELED MEATS Mesa beef, $19 per barrel ; plate. $ 14 per bArrel ; family, $14 per barrel, mess pork, $20 per barrel; bris ket. $22 per barrel. lalry and Country Produce. BUTTER City creamery. extra 29c; fancy outside creamery. 27 28c per pound; store. 20c (Butter fat prices average lc per pound under regular butter prices.) EGOS Oregon ranch, candled, 27028c per dozen. POULTRY Hen 14014Hc; Spring 18H 019c; rooster 9ul0c; duck young. licy 1 'c- geese, voung, & ? 10c; turkey 18c; squabs. $2tf2.25 per dozen. CHEESE Full cream twins. 16H017C per pound; young Americas, 17itTlSc. PORK Fancy. 10ft 11c per pound. VEAL Extras. c per pound ; ordinary, 7 0 8c; heavy, 7c. i Hop Woof. Hide Etc ttOPS 1D09 contracts. 15016c per pound; 110 crop, 11 9 lie; 1007 crop, 7c; 100S crop, WOOI- Eastern Oregon, 1603o per pound; Valiey. 23925c. MOHAIR Choice. 24 ff 25c per pound. HIDES Dry hides. 16 17c pound; dry kip. 159 16c pound; dry calfskin. 18910c pound; salted hide 9H9loc; salted calf akin, 14 9 15c pound; green, lc less. FURS No. 1 skins: Angora goat, $1 to $1.23. badger. 23 9 30c: bear. $6920; beaver, $6-50 9 8-50 ; cat. wild, 75c 9 1-50; cougar, perfect head and claws, $3 910; fisher, dark, $7 30 911; pal $4.&097; fox. eras $3 to $3- fox. gray. t?0iS0c; fox. red. fo silver, $'i' to $11K; lynx. $S9 15; marten, dark. $$912: mink. $3.509 3.30: muskrat, 13 923c; otter. $2 50 9 4 ; raccoon, 00 975c; sea otter. $ ! 00 9 as to size and color; kimki. 5340180c: civet, cat. 10915c; wolf. $293; coyote. woi veriua, $3 9-5; weiverln pe, $292.50. STEEL DRUGS BACK Unfavorable Rumors Cause ' Entire Market to Slump. AWAIT MORGAN'S RETURN Brokers Fear Hopes for Extra Divi dends May Be Shattered, and General Advance I Checked. ) NEW YORK, July 50. The stock market today miitht be aaki to bav. been waiting on the return of J. P. Mown. whoM ar rival from Europe la expected tomorrow. The angrelv puihera ot the recent ad vanoe in United 8ta.te. Steel were disturbed by a .urse.tlon that the expected IncreaM In the dividend had not been determined on and might be considered aa Improbable. Thl wa taken to mean that ml of the Interest, believe postponing the contem plated Increase of disbursement until the working off of orders taken at the deep eut In price, which went Into affect In Febru ary may open the way to buslnesa on a more profitable basla. Holder, of United States Steel above T do not view with equanimity the prospect of continuing to hold the .tock aa a 2 per ecnt dividend payer, and even the sugges tion of a I per cent rate leave, a lack of assuranoe among recent speoulatfre buyers. Among these the assumption has been that J. P. Morgan had committed himself to the advocacy of a policy of Increased divi dends In connection with the negotiations o Introduce United States Steel to the Paris Bourse. The dragging tendency of United States Steel proved an obstacle to the efforts to advance prices, and more than once pulled Uie market back after It bad set out for higher levels. Interest attached to the news that the Union Pacific had sold its JIO.000,000 hold ings of Atchison preferred to a syndicate under the direction of Its own bankers. No Information was forthcoming as to the In tention of the company In disposing of the proceeds of this sale. Union Paclflo sold 3, higher than Its former record. The time money market held Its firm tone, and foreign exchange rose sharply, giving color to predictions that further large shipments of gold to Argentina re mained to be made. Bonds were firm. Total sales, par value, I4.020.O0O. United 8tatea 4s registered deollned hi per cent In bid price. Closure stock quotations. Closing Bales. High. Low. Bid. ATils Chalmers pf 300 f2 M 51 "i Amal Copper .... 8,800 82U 81 829 Am Agricultural.. o iculttmu.. 45 EUCW... 8000 4 Vi 44 pf S.SOO 824 Sl 82U A Foun, .3O0 63 62 H 624 n OU.... 7.2O0 76Vi "4i "14 Am Beet Bugar, Am tan Am Car A Am Cotton Am Hd at Lt pf... 800 41 1J, 4H4 Am Ice Becuri... T.500 40 381, 39 7, Am Llneeed OU 2O0 174 17 16(4 Am Locomotive. . . S,0 63 4 6Hi 63 Am Smelt A Ref . . 8,000 Mv, S;1 64U do preferred ... 60 111 112 lllii Am Sugar Ref.. 800 127 127 127 Am Tel ft TBI 1,600 140 140(4 1401, Am Tobacco pf 10OT Am Woolen 1.200 86 85 38 Anaconda Mm Co. 1.200 47 47H 7 Atchison 12,300 117 116(4 do preferred . 2u0 105 10S 104 Atl Coast Line. 131 Bait Ohio S.600 120 11 110 do preferred . . . &!(, Bethlehem Steel - 881 Brook Rap Tran.. 800 78 78 78(4 Canadian Paclflo.. 4.600 187( 186(4 IMS' Central Leather... 1,600 324 32 14 32 do preferred ... 300 105H 100(4 1(4 Central of N J 280 Chea 4 Ohio 81,100 78T, 78 i Chicago A Alton... 2o0 69'. 68 68(4 Chicago Ot West. 900 1(4 1 1 Chicago N TV.. 1,400 1R4"4 1831 184 C. M St Paul.. 14.400 156(4 1B514 106(4 C, C. C St L... l'O 7S - 76 74 Colo Fuel t Iron.. 4.500 44 ;4 44(4 4454 Colo & Southern. 56 do 1st preferred. 2O0 81(4 81(4 81 do 2d preferred. 80(4 ConeolMated Ou.. 60O 1404 last 140 Corn Products ... 2O0 23(4 234 23(4 Del Hudson 192(4 D sc R Grande... 100 48l 4814 48(4 do preferred ... 100 85(4 WVi K4Hi Distiller Securt.. 2O0- .18 87'4 37 Erie 27,300 S7i 36(4 37(4 do 1st preferred. 2.3O0 64 63T4 6 do 2d preferred. 700 44 43(4 44 Qen-ral Ellectrio.. 8.800 1ST4 167 167 Gt Northern pf... 7.70O 161 l, I6OI4 151 Gt Northern Ore.. 2.100 76 76 . 76 Illinois Central .. 1.80O 166 154(4 165(4 Inter-Met 800 15 15 15 14 do preferred ... 18,200 48(4 47(4 47 Inter Harvester 85(4 Inter-Marine pf .. 800 81(4 St-Vt 31T4 Lit Paper 100 16 16 16(4 Int Pump 3S Iowa Central .... ZOO 29 28 294 K' C Southern ... 200 46 46 454 do preferred ... 200 72'4 71 72(4 Louis A Nalhvtll 3O0 1424 142(4 I4- Mlnn k St L 2O0 66 56 65 M, St P ft S B M. 81IO 143(4 142 143 Mlssoart Paclflo... 300 73 724 724 Mo. Kan at Texas 1. loO 424 42 42 do preferred ......... ..... 73 National BlscuR 106 National Lead ... 100 86 86 86(4 Mex Nat Ry 1st pf 53 X T Ceatral 80,200 134 182 134(4 N T. Ont & West. 8 2"0 64 63 634 Norfolk West... 2.900 934 93 - 834 North American 1.100 MV4 83 83 Northern Pacific.. 10.10O 154(4 163 153 Paclflo Mall 2"0 30 30 24 Pennsylvania ,B1 138 138 138(4 Peoples Gas .... 800 116 116 " P. C C St L... 82 Pressed Steel Car. 2.400 45 44 45(4 Pullman Pal Car 188 Ry Steel Spring.. 600 47 4614 464 Reading . B8.10O 15t 155 1554 Republic steel ... 1,800 33 4 .(3 33 do preferred ... 600 107 107 107 Rock Ialand Co... 72.100 31;, ' 85 36 do preferred ... 16,400 76 74 75(4 St L Southwestern 600 204 24 27 do preferred ... 800 65 65 65 Sloes-Sheffield 4O0 84 84 84 Southern Pacific-.. 29.500 134 133(4 134 Southern Railway. 45,100 31 31 31 do preferred ... 4H TO '10 iu Tnn Copper .... 600 37 36 37 Texas Pacific. 400 35 34 34 Tol. St I. West. 500 49 49 49 do preferred . 300 69.j 69 Union Paclflo .... 81,6iK 198 197 198 do preferred . 700 106 105 106 V S Realtv 3O0 83 82 82 U S Rubber 200 39 38 38 U S Steel 88,500 72 71 71 do preferred ... 6,000 127 12K 127 Utah Copper 200 49 49 49 Va-Caro Chemical. 8,300 52 52 52 Wabaeh 1.5"rt 21 21 21 do preferred ... 6.40O 67 '66 57 Western Md 4.200 7 6 6 Westlmrhouse Elee 6.600 86 85 85 Western Union .... 1.000 73 72 72 Wheel ft L Krle.. 2UO 0 6 Wisconsin Central 65 Total sales for the day. 638,100 shares. BONDS. U.S. ref. 2s reg.lOOH'N.Y.C. gen. 8s. 92 U.S. ref. 2s cpn.101 NO. Pac 8s ... 74 U.S. 8s reg 101 No. Pac. 4s 103 U.S. 3s cpn' 101Jumon Pac. 4s ..104 U.S. new 4s reg.. 119, Wis. Cent. 4s .. 95 U.S. new 4s cpn..l 19 Japanese 4s .... 67 D. ft R. G. 4S-. 07! Ptocks at London. LONDON. July 20. Consols for money, 84; consols for account 84. Amal. Copper... 84iM., K. ft T 43 Anaconda 84iN. Y. Central ..136 Atchison ...... .120 Norfolk ft West. 96 Do pfd 107 Do pref 90 Bait, ft Ohio ..123 Ont. ft wast. 55 Can. Pac 111 (a Pennsylvania ... u Chea. ft Ohio .. 81 Hand Mines 10 Chi. Gt. West... 1 C. M. ft St.P...160 De Beers ..... 14 D. ft R- Q-. . .49 Do pref. 87 Brie 87 Do 1st pref. ..64 Do 2d Dref. . 44 Reading 80 Southern Ry. ... 32 Do pref 72 South. Pae. ....137 Union Pan. 203 Do pref ......109 U. a Steel .... 73 Do pref. .....130 Wabash 21 Grand Trunk ... 23 Illinois Cent 159 Do prer. AS L. ft N. 14S!?panlsh 4s . .. 97 Money, Exchange. Kto. NEW YORK. July 20. Prime mercantile paper, 8(j-4 per cent. Sterling exchange, firm, with actual business in bankers' bills at 84.86S4.8610 for 60-day bills and at 84.8745 for demand. Commercial bills. f4.8594.SS. Bar silver, 61c Mexican dollars. 44c. Government bonds, easy; railroad bonds, firm. Money on call easy at 16"2 per cent; ruling (CM. 1S2 per cent; closing bid, 1 per cent; offered at 1 per cent. Time loans, rather dull and firmer: 60 days. 162 per cent; 90 days 2 62(4 per cent; six months, 3 per cent. LONDON. July, 20. Bar silver, steady at 28 Hd per ounce. r Money, feJ per cent. "The rate of dis count tn the open market for short bills is Vi per cent; for three months' bills, 1 6-16l per c.nt. F -N' FRANCISCO. July 20. Sterling on London, 80 days. 84.86; sight, 14.87. Silver bars, 51c. Mexican dollars, 45a Drafts Sight, 2c: telegraph. 60. Dally Treasury Statement. WASHINGTON. July 10. The condition of the Treasury at the beginning of business today was as follows: Trust funds Gold coin, IS50.555.869; sil ver dollars. 488,144.0O0 ; silver dollars of 1830, J4.1S9.000; silver certificates outstand ing. '4S8,144.000. General fund Standard silver dollars In general fund, $3,957,363; current liabilities. $93,749,311; working balance In Treasury of fice, $3J,763,349; in banks to credit of Treas urer of the United States. $45,699,711: sub sidiary sliver coin, $28.529.711 : minor coins, $2,417,401. Total balance In general fund, $111,673, 795. spodsIelmattle MARKET BADLY OVERSTOCKED AND PRICES DROP. Dairy Produce Holds Firm, With Probable Advance Set for Sat urday Eggs Scarce. SEATTLE, Wasn., July 20. (Special.) The heaviest shipment of produce that ever reached Seattle In one day arrived today on .. k,.i. from California. The principal receipts were potatoes. 20.000" sacks having , jt . . - TnirtriiA nf last week. The potato market is badly overstocked, and prices Uv dropped to as low as one cent a mnnfi stock. ariB. few going above 1 cents. Western avenue has had mors trouble wtth potatoes than any ra"" this year. No sooner was the old supply cleaned up than new commenced to arrive Jnexce,lve quantities .Hemes wwo tu - . cheaper at 81.23 for raspberries. Cherries are Very scarce anu tu . " , All dairy produce la firm. The butter market will probably be advanced Satur day. Eggs are not arriving very freely. Portland helped out some today by contrib uting several large shipments of poultry. Veal Is almost Impossible to obtain. Sales were made at as high as 12 cents today. QT.-OTATTOX9 AT SAN FRANCISCO. Price Paid for Produce In n B C1 Markets. SAN FRANCISCO, July 29. The follow ing prices were quoted In the produce mar- kIstufis i Bran, 821603180; middlings, $36.50S7.50. - .,.. Vegetables Hothouse cucumbers, 26 5 00 . garlic. 85c: green peas. $11.60; string beans. J6c; tomatoes. 4065c; eggplant, 11.2601.60; asparagus. 60cl. Butter Fancy creamery. 27 c; creamery, seconds. 27o: fancy dairy, 25 c. Poultry Roosters, old. $4.606: young. 87 8: broilers, small. $2.60S: broilers, large. $S5034; fryers. $56; hens, $4.60S; ducks, old. $5; young. $68. Eggs Store, 29o; fancy ranch, Slo. Cheese New. 13 14c; young America, 1415tto. ' Wool sooth Plains and San Joaauln. B5 ITc: Nevada. lS20c: Mountain, 6912c Hay Wheat, $12if 18; wheat and oats. 812 17: alfalfa. $1014; stock. 8701O; bar ley. 1014: straw, per bale. 6076o. Fruits Apples, choice. $1.2501.60; com mon. 0c; bananas, 76c$ 26; llrews, $3.50 6; lemons, choice. $46; commons, $l.o0 J; pineapples, $1.60 2.60. Hops Contracts, 190 8. I60. Receipts Flour. 2834 quarter sacks: wheat. 98 centals; barley, 8130 .centals; beans, 410 sacks; potatoes, 6308 sacks; hay. 60S tons; middlings. $24 sacks; wool. 3 bales: hides, 849; oats, 2645 centals; corn, 43 cen tals; bran, 213 sacks, WOOI. MARKET 19 QUIET. Lull Follows not Weather, and Prices Are Finn, But Hot High. BOSTON. July 20. The quiet usually re sulting from the hot weather was notlceab,a In most quarters of the wool market- Prices were firm, but no higher than a week ago. Domestic quotations follow: Scoured values: Texas fine, II months, 7273c: fine, six to eight months, 6568c; One, Fall, 68 0(00. California, Northern, 6567c; middle coun ty. 636c; Fall. free. 606c Oregon. Eastern, No. 1 staple, 7t 73o; Eastern, dotting. 768o; Valley, No. 1. 67 3 58c. Territory, fine staple, 76 78c; fine me dium staple. 6973o; fine clothing, 68 70c; fine medium. 6466e; half blood, 67069c; three-eighths blood. 66 67c; quarter blood, $6 68c. Extra pulled, 7074c; fine A, 66o; A supers, C6&620. ' London Wool Auctions. LONDON, July 20. The fourth series of wool auction sales closed today, with a small attendance. The offerings, which numbered 14.676 bales. Included many lots of good quality, particularly scoured,. The latter were in active demand at firm prices. Eastern Livestock Markets. CHICAGO, July 20. Cattle Receipts esti mated at 30O0; market weak: beeves, $4.80 16 7.50; Teias steers. $4.506: Western steers. $4.50(6; stockers and feeders. $3 6.10; cows and heifers, $2.40 620; calves. $5.50 ft 8.23. Hogs Receipts estimated at 13.000: mar ket steadv; Utrht 87.45i 8 .05; mixed, $7.50 8.25; heavy, $7.60C?8.30; rough, 87.60 & 7.75; good to choice heavy. $7. 75ft 8.30: pigs, $6.70 7.60; bulk of sales. $7,803)8.10. Sheep Receipts estimated at 16,000; mar ket, weak; native. 2.765; Western, S3 6 20; yearlings, $4.90a 6; lambs, native, 84.75 8.23; Western. $4.75S.35. KANSAS CITY. July 20. Cattle Receipts 10.000: market steady: native steers. $4.7o 7.60; native cows and heifers, $2.40& 7.25; stockers and feeders. $3.25a 4.55; bulls. $2.90 4S0; calves. $47.50: Western steers, 84.50 6.50; Western cows, $3ji5. Hogs Receipts 9000: market steady: bulk of sales. $7.05g8: heavy. $38.05: packers and butchers, $7.80jjS; light, $7.607.95; pigs, 6.5i!S 7.50. Sheer Receipts 6000; market steady. Mut tons. $4.2515.50; lambs, $6.50S?7.80; range wethers, 4u5 75; range ewes. $34.75. SOUTH OMAHA. July 20. Cattle Re ceipts 8700; market steady to 10c lower; Western steers, $3.506ri.50: Texas steers, $36 6; range cows and heifers, $2.755; can ners, $2 3.25; stockers and feeders, $3 6.25: calves, $3.5O6.50; bulls and stags, 83 5. Hogs Receipts 600: market steady to 5c lower; heavy. 87.75S7.90; mixed, $7.70 7 75: light. 87.6047.80: nigs. $67.25; bulk. 87.70 7.S0. Sheep Receipts 5000: strong: yearlings, 856: wethers. $4.505.25; ewes, $3.75 4.76; lambs. 86.50 8- Eastern Mining; gtoefca. BOSTON, July 20. Closing quotations! Arizona Com. . 40Mohawk 60 Adventure ..... 6 Mont C. ft C 25 Alloues 84Xevada 23 Amalgamated .. S2i01d Dom. ...... 64 Atlantic 8(Osceola 132 Butte Coal. ... 24!Parrott ....... 31 CaL ft Arts. . 103 Qulncy 57 Cal. ft Heela. ..635 Tamarack 66 Centennial 33 Trinity 11 Copper Range . 81 United Copper .. 9 Daly West U. S. Mining .... 48 Franklin 16 Granby 99 Greene Cananea. 9 V. S. Oil ....... 31 Utah 42 Victoria ........ 4 Isle Rovale 25!Winona .. 5 Mass. Mining... 8 Wolverln . .147 Michigan 8, Nor. Butte 51 Coffee and Snrsr. NEW YORK. July 20. Coffee futures closed barely steady, net unchanged to 15 points lower. Sales, 18.000 bags. July, 7.06c; Sep tember. 6.055.75c; December, 6.35Q5.40c; March. 6.405.45c; May, 6.40'6.6Oc. Spot, quiet. No. T Rio, 77c; No. 4 Santos, Sc. - Mild, quiet. Cordova, 9 12c Sugar Raw firm. Fair refining. 8.46c; cen trifugal. 86 test. 3.85c; molasses sugar, 3.20c Refmed, steady. BEARS HIT WHEAT July Option Forced Down to $1,163-4 During Day. LONGS START IN SELLING Future Deliveries Remain Firm, and Show Slight Gain Corn - Heavily Bought Owing to Reports of Crop Injury. CHICAGO, July 20. Wheat for July de livery was under heavy selling pressure, almost the entire day, and at the low point, $1.16, the price was two cents below the closing figure of the previous session. Other deliveries, however, were In good deraend the greater part of the day and at the top was llHo above yesterday. The feature of trading In Jury was the heavy sales by a leading long, which Induced considerable selling by smaller holders. The selling was prompted by the con tinued favorable conditions for harvesting In the Winter wheat belt and the constant ly increasing volume of new wheat being marketed as a result of the dear weather, present and prospective. Declines In the price of cash grain here and In the Southwest also added to the bearish sentiment In the July option. Re ports were received from Minneapolis say ing that the growing crop In South Da kota and Minnesota was In danger by rust and hot weather. These advices were chief ly responsible for the strength of the future deliveries. Rumors of injury to the crop by hot weather In Iowa and Kansas caused heavy buying of corn, particularly the September delivery, which resulted In a strong market all day. The market closed strong, with prices T4 He higher. Oats were weak at the start, but later the market developed considerable strength. The close was strong, o higher. Provisions closed 60 lower to 6c higher. Closing quotatlona were as follows: ' WHEAT. Open. High. Low. Close. July............ 118 118 116 117 Sept. .... 110 111 110 lllU Dec . 107 108 107 108 MajU 110 111 110 110 CORN. July. 70 71 T0 Tl Sept... 66 67 65 7 Deo.... ......... 66 66 66 66 May. 56 57 66 67 OATS. July 46' 46 46 45 Sept 40 41 40' 41 Dec 41 41 40 41 May 43 44 43 44 MESS PORK. July JO.87 20.87 30.85 ' 20.88 Sept 21.10 21.10 21.06 21.07 LARD. July 1L70 Sept. 11-72 11.72 11.7 11.71 SHORT RIBS. July.... Sept...... 11.4214 11.46 11.40 11.46 Cash quotations were as follows: Flour Firm. ; Rye No. 2, 3c, , Barley Feed or mixing, 6668c; fair to oholce malting. 68 73c Flax seed No. 1. Southwestern, $1.40; No. I, Northwestern, $1.50. Timothy seed $3.80. Clover $10.86. Mess pork Per barrel, $20.82 20.85. Lard Per 100 pounds, $11.70. Short ribs Sides (loose), $11.47 II. 67; clear sides (boxed). $11.87 13 Oraln statistics Total clearance of wheat and flour were equal to 11.000 bushels. Primary receipts were 428,000 bushels, compared with 1.072, 000 bushels the corresponding day a year ago. The world's visible supply as shown by Bradstreets, 3,838,000 bushels. Estimated reoelpts tomorrow: Wheat, 84 cars; corn, 173 cars; oats, 49 cars; hogs. 22.000 head. Daily movement of produce Articles. ' Receipts. Shipments. Flour, barrels 21,600 25,800 Wheat, bushels 67,600 27,700 Corn, bushels ..868,800 194.400 Oats, bushels ....230,400 324,500 Rve, bushels 2.000 27,000 Barley, bushels 79,500 22,400 Grain and Produce at New York. NEW YORK, July 20. FToum-Reeeipts, 20,667 barrels; exports, 637 barreSb. Steady with a fair demand for new Kansas. Wheat Receipts 47,800 bushels. Spot, Ir regular. No. 2 red old. $1.42 nominal lm ele vator and f. o. b. afloat; No. 2 red new, $1.22 ; end August f. o. b. afloat; No. 1 Northern Dulirth. $1.44 nominal f. o. b. afloat; No, S hard Winter, 81.86 nominal f. o. b. afloat. The wheat market was decidedly stronger today, getting excellent support from bulls on account of aa. improved cash demand, reports of higher temperatures la the Northwest and smaller receipts. Final prices showed a net rise. July closed at $1.81, September at $1.18. December at 81-16 and May at $1-18. Hops Firm. State common to oholce, 1808, 1419c; 190T. nomlnali Paclflo Coast. 1808, lllfieo; 1907 812o. Wool Steady. Petroleum Barely steady. Grains Show Decrease. NEW YORK, July 20. Special cable and telegraphic communications reoelved by Bradstreets show the following changes In available supplies as compared with previous account: Wheat, United States, east of Rockies, de creased 1.259.000 bushels; Canada, decreased 779,000 bushels. Totals, United States and Canada de creased 2,088.000 bushels. Afloat for and In Europe, decreased 1,800, 000 bushels. Total American and European supply decreased 8. 888.000 bushels. Com, United States and Canada decreased 623,000 bushels. Grain at Saa Francisco. SAN FRANCISCO, July 20. Wheat, steady; barley, easy. Spot quotations Wheat Shipping, $2.058.07; millings, $2.10. Barley (Feed, $L451.48; brewing, $1.50. Oats Red. 11.801.0; white, nominal; black, nominal. San Francisco Call Board sales Wheat December, $1.821.92. Barlejr May. $1.51; December, $1-45. Corn Large, yellow, $L801.82. European When Markets. LIVERPOOL, July 20. Close: Wheat, July 9s 6d; September, 8s $d;' Decem ber, 8s 4 d. Weather, fine. LONDON, July 20. Cargoes: Walla Wal la for shipments, quiet, 42s 6d to 42s vd. English country markets, steady. French country markets, quiet. Wheat at Tacoma. TACOMA. July SO. Wheat, milling, brae stem, $1.30; club, $1.14.' Export, bluestem, September delivery, $1.04; club, $li red, 98c Wheat at Seattle. SEATTLE, July 20. No milling quota tions. Export wheat, bluestem. new crop, $1.04; for Autumn delivery, club, $1; red Russian. 98c Car receipts: Corn, Ave cars. BUTTER SOARING IN PITTSBURG. Westers. Beef Packers Said to Have Engi neered Corner In East. NEW YORK. July 20. A Pittsburg dis patch to the Press says: Through a corner In butter manipulated by the oleomargarine tnanufacturera. other wise known as the Western beef packers, the people of Pittsburg face prices ranging from 30 cents to 38 cents a pound in Au gust, and from 42 cents to 48 cents during January, February and March. Pittsburg Jobbers say the oleomargarine Interests 'have been buying up the available supply of but ter during June and July, paying 1 and 2 cents a pound in advance of the open mar ket price. It Is estimated by the butter men of Pittsburg that the Chicago packers have about 300,000 tubs of pure butter stored In Chicago, And this Is La bo held either to t THE UNITED STATES NATIONAL BANK . PORTLAND. OREGON UNITED STATES DEPOSITORY CAPITAL AND SURPLUS, $1,000,000 OFFICERS J. 0. AUTS WORTH. President. R. LEA BARNES, A. M. WRIGHT, Assistant Cashier. LETTERS OF CREDiT AND TRAVELERS CHECKS ISSUED NEGOTIABLE EVERYWHERE DRAFTS Drawn ON ALL FOREIGN COUNTRIES LUMBERMENS National Bank CORNER FIFTH AND STARK STREETS THE BEST STREET INSURANCE IS THE BITULITHIC PAVEMENT It insures against dust, mud and street noises. It insures against slipperiness and falling horses. It insures against cracks, disintegration and costly repairs. It assures a sanitary and durable street. It assures conscientious workmanship and best materials. It assures perfect satisfaction. BITULITHI0 INSURANCE IS SAFEST AND SUREST. WARREN CONSTRUCTION COMPANY 317 BECK BUILDING, PORTLAND, OR. mix with the oleomargarine and to be sold as pure butter, to force consumers to buy oleomargarine, or to bring about a repeal of the tax on oleo. Butter has been exceed ingly high for several months, but, accord ing to those In business here, these high prices will not equal the prices which will be demanded during the Winter. Metal Markets. NEW YORK, July to. The London tin market was 7s lid lower today, with spot quoted at 131 Us d and futures at 1133 2s 6d. The local market was quiet, but a shade lower, with spot quoted at 18.90 39.10c - Copper was lower In the London market, with spot quoted at 58 lis 3d and futures at 59 6s. The local market was steady, with lake quoted at 18.26lS.S7o; electro lytic, 12.7513.87iiO; casting, 12,2H 13,760. Lead was lower, at IU fa ftd In London, tmt remained at -4.So in the local market. Spelter was unchanged at home and abroad. The English iron market was a shade higher, at 48s 4d for Cleveland warrants. The local market was steady to firm; No. 1 fonndry. Northern, 17.2017.6oi No, 2. ls.T617o; No. 1. Southern, soft. 10.TE 17.26. Dairy Produce In the East. , CHICAGO, July 20 Butter, steady; creameries, 22 2o: dairies, 202ttc Eggs, firm at mark: cases Included. 18 io; firsts, 20c; prime firsts, 21Mi. Cheese, strong; Daisies, 16c; Twins, 14e; young Americas, 1616c; Long Horns, 15 15!4o. NEW TORE, July 20. Butter, strong; un changed. Cheese, strong; new stats full cream spe cials, 14Kei64;C; skims, full to special, 2lHe. Eggs, firm. Dried Frosts at New York. NEW TORK, July 20. Evaporated apples, quiet. Fancy, 8814o: choice, 88tto prime, 77o; common to fair, 66o. Prunes, unsettled. California. 2llJ4e; Oregon, 69c. Apricots unchanged. Choice, 1010o; ex tra cboloe, 1010c; fancy, ll13c. Peaches, unsettled. Choice, 666o; extra oholce, e'A6a; fanoy, 78Vio. Raisins, dulL Loose Muscatel, 34He; cboloe to fancy seeded, 4o; seedless, 6Hc; Lmtdon layers. 1.151.20. Cotton at New York. NEW YORK, Jnty 10. Cotton Spot closed qutet, 25 points higher. Middling uplands, 12.65c; do gulf, 12.90c. Sales, none. Cotton futures closed steady. July, 12.08c; Bonds Investments CALL OR WRITB T. S. McGRATH l umber Exchange, PORTLAND, ' OREGON. E. W. SCHMEER, Cashier. Vice-President W. A. HOLT, Assistant Cashier. August, 12.08c; September, 12.13c; October, 12.12o; November, 12.10o; December, 12.14c; January, 12.12o; March, ll.lao; May, 12.17c. Wool at St. Lords, ST. LO0IS, July 20. Wool, steady; me dium grades, combing and' clothing, 22 28c; light fine, 2026Hc; heavy fine, II lOKc; tub washed, 2H 3c Flax at Mlnneanolls. MINNEAPOLIS, July 20. Flax, ILK. Additional Delegates Named. SALEM, Or., July 20. (Special.) Gov ernor Benson today appointed throe ad ditional delegates to the Prison Reform Association at Seattle, August 14 to 19, as follows: Dr. J. N. Smith and Rev. W. H. Selleck, Salem; W. T. Gordon, Portland. TRAVELERS GCIDJ6. CLARK'S CRUISES OF THE "CLEVELAND" (Hamburg--American Line) R 18,000 tens, brand new. superbly fitted. D OUNDtheWORL From New York October 1, 109; from San Francisco, Feb. 5, 1010, nearly four months, costing only $650 AND UP, Includ ing all expenses afloat and ashore. SPECIAL .FEATURES Msderia, Egypt, India, Ceylon, Burma, Java, Borneo, Philip pines, Japan. An unusual chance to visit unusually attractive places. 12th Annual Orient Cruise, Feb. 8, '10) by North German Lloyd 8. S. "Grosser Kur fuerst." 73 days Including 4 days Egypt and Palestine. 400 up. FRANK C. CLARK. TIMES BLDO.. If. Y. C. E. Stinger, 254 Washington St., Pert land. CANADIAN PACIFIC Less Than Four Days at Sea WEEKLY SAILING BETWEEN MONTREAL QUEBEC AND LIVERPOOL Two days on the beautiful fit. Lawrence River and the shortest ocean ronte to JBu- rope. Nothing better en the Atlarrtlo than out Elmpressea Wireless on all ateamera, Flrst-oUM S90; eeoond $0. on cine cabin S45. Ask any ticket agent, or write for alUaa. rates and booklet. F. B. Johnson. P. A.. 149 8d at., Portland. Off SAILING JANUAKl tw.itfiw toMaJeirajJpain,Mediterrancan, Orient) Costing on!y400and 'upfor73days. Cruise foot. White 5tarLmg,N.T..oragertT;j NORTH PACIFIC S. S. CO. For Eureka, San Francisco and Los Angeles direct. The steamships Roa noke and Elder sail every Tuesday at 5 P. M. Ticket office 132 Third, near Aider. Phones M. 1314 and A 1314." IL YOUNG, Agent. SAN FRANCISCO PORTLAND 8. 8. CO. Only direct steamer and daylight sailing. From Alnsworth Dock. Portland. 9 A- M. 8.S. Suite of California. July 24. 8.8. Rose City. July 81, August 14, eto. From Lombard St.. San Francisco, 11 a. a. 8.8. Rose City. July M, Aug. 7. 8.8. State of California, July 81. J W. Bauiom, Ijoek Agent. Main 368 Alnsworth Dock. U. J. ROCHE, City Ticket Agent. 142 3d St. Phone Main 401 A 140. COOS BAY LINE The steamer BR.KAJCWATER leares Port land avery Wedaeed,. V. from Alas VTorth dock, for Sorts, Has. Marshflold mm Coos Bay points. Frslght received till 4 P. U on day of sailing. Passenger 1 are, arst class lu; second-cTass. $7, Including bjrtj and mlmll Inoulr. elty ticket oBice. Third and Washington stIM AiaAWorU , rasas Mats XV