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About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (June 11, 1910)
THE MORNING OREGONIAN. SATUKDAT, JUNE It, 1910. GOOD EXPQRTTHADE Liberal Foreign Orders for Oregon Prunes. EAST IS HOLDING BACK American Buyers Object to the Pres ent Basis, in Spite or the Small Crop in This Section. Wheat Market Firm. While the Eastern market for spot Oregon prunes Is strong, owing to the light bup ply there and in the West, the buyers In the Knst are showing little disposition to take hold of futures. The basis fixed by the Oregon packers. SH cents for all sizes. Is regarded by the Eastern trade as too high. They have yet to learn that the crop Is not a large one. or at least to believe that such Is a fact. It is a habit with the Eastern prune buyer to be always skep tical of short crop reports from the West. They will sooner or later come to a re alization of the true ' condition, however, and -then there may be some active scrara bliirg to get hold of -what is left. According to H. S. Gill, of Salem, who was In Portland yesterday, the condition of the Oregon crop is spotted. The yield will run from nothing in some sections to a full crop in others. A close estimate of the total yield In Oregon and Southwestern Washington is 15,000.000 to IS. 000, 000 pounds, or half of a full crop, such as was harvested last year. There Is little doubt that the prunes will all go Into consump tion at fairly good prices. While the Eastern dealers are holding back, the foreigners are not idle. Export order have been coming in for some time past and a considerable balance of busi ness has been booked. H. S. Gile & Co., of Salem, and the Willamette Valley Prune Growers Association were the first to open up the foreign market for Oregon prunes about ten years ago. and since then the export business has steadily grown. Besides these two packers, three Sther packers have good foreign orders on their books this year. The buyers on the other side, however, like the Americans, are always trying to hold prices down. A Liverpool dealer writes to The Oregonian as follows on the sub ject of prunes or, as they call them In England, plums: Liverpool. May 28. 1910. tTo the Ed itor.) At this juncture, when you are now able to give a forecast of the probable crop of this season's plums In Oregon and Wash ington, and which from recont reports to hand seem to be a ciisaopointing one as far as bulk is concerned, perhaps a few words. anent tne prospects of business on this side of the world would not at the. present mo ment be out of place. As you arc no doubt aware, the sales of this product for the past few years have multiplied vastly, partly from the " im proved curlnn and packing .exercised by those Jn the business and partly by the op portunity secured through the failure in re cent years ot" the crop of plums raided in France and Bosnia, and it is in relation to these that I should like to venture a few remarks. Years back, and before there was anything of importance done in American dried plums, our (supplies came from France and .Bosnia and a large business was invariably the result, but there came a year when both these countries experienced a short crop, and thus the chance tor the produce of the l"nited.Wtates. Such wus the demand en- tired In a great measure al.o by the fact that your crop was .large und prices mod erate) that ever sim-e California plums, as well as Oregons, owing to their continued reasonable values, have established them selves bjtli with the trade and with the pub lic. There is, however. always a limit In things commercial, and when crops look like failure In one direction one must turn to renters where such conditions are on a dif ferent level, and It is with a view to put you in possession of some facts v hich may have a hearing on the position in your sin to that I ask you carefully to keep in mind Die following: In the matter of foodstuffs we are a con suming nation, and especially in luxuries (under which category you may describe dried plums), and the British public will not pay an exorbitant price-for goods which they can really do without, which proves that those who wish to do a xrade, espe cially In an article that has kept within lim its for years back, must keep prices within reasonable bounds if they wish for business at all. From recent advicrs, it would seem that In California and Oregon, owing to abnormal ly or t crops, packers have made up their minds to increase values considerably. Ko doubt t hey may feel perfectly ,1uh titled in doing so, and no one might-blame them; but I would venture to give a warning, so far as thin country is concerned, that there is a certain limit to which buyers will only go. anil any increased prices beyond the scale adopted in previous years wiil curtail tre mendously iho demand from this quarter. In this connection you must remember that from nil accounts so far the crops in France end Bosnia this season are such that mod erate prices are looked for, and as value ts the principal factor, also the fact that plums from France can be put on this market within 1 days or less after the order is given, and not in five or six weeks, as in the case of A merlran goods, this calls for very FtrinKCnt consideration as to the position you will assume in the competition for the trade of this country. Of course 1 do not deny that even with high prices jnme little trade may be done, but it would be well for growers and pack ers to make up their minds, ir they are de pending on Great Britain to any extent to relieve them of anything like one-quarter f their usual supplies, they will be griev ously disappointed. GRAIN CROP IN NEKI) OF RAIN. Complaints Received From Many Parts of Hlg Bend and Palo use. Reports were ""Tecetved by local grain dealers yesterday from various parts of the Big Bend and Palouse country that the wheat crop is badly in need of rain. Some authorities declare that unless there Is rain within the next week the yield many be cut in two. These conditions have" added considerable strength to tha market and checked what desire existed to sell. Xo change was made In the prices quoted yes terday. Weekly foreign wheat shipments, as re ported by the Merchants Exchange, were: ThlsWk. Last Wk. Last Yr. Argentina 1,01' 4. 000 512.000 2,65t.00() Au.it rat la 1 0.00 0 1.OS0. 000 344.000 India 912.000 1.35J.0U0 1.51 J. 000 Local receipts In cars were reported by the Merchants' Exchange as follows: Wheat, Barley. Flour. Oats. Hay Monday 14 13 13 Tuesday H 4 4 A Wednesday ... 11 .... 1 .... 4 Thursday " 2 2 S 3 Krida? 10 2 10 2 '5 Year ago v I 7 3 9 Season to date !07 IS 12 1427 2 Fr Yeaivago 103tft 1335 1377 S6S "J 74 J CAXTALOITES ABE MOVING FREELY. Rig Trade Also In Lemons Cherries in Over-Supply. The strong demand for cantaloupes was the feature of the fruit market yesterday. Prices were firmer at $3 ijf 3.50 per crate. The lemon trado also was booming. Lo cal stocks of lemons are large. There was an over-supply of cherries on the street, which could not be cleaned up at reduced prices. B'ngs were offered at 1 cents a pound, Royal Anns at 6 5 7 cents and common sorts at 3 ff 5 cents. Local red raspberries were in fair sup ply and moved well at $".75 per crate. Strawberries were firm at the preceedins day's advance. Oregon loganberries were quoted at 9L7-2 per 15-pound crate. CALIFORNIA HOP MAKKET IS HIGHER. Fourteen Cents paid for Contract in So noma New York Condition. A wire received from Santa Rosa yester day reported that 14 cents had been paid for Sonoma hop contracts. This shows an advance of a full cent in the California market. There are said to be enough or ders there to take up all the spot hops left. There are also plenty of orders In the Oregon market for 1909 hops, but at prices that holders will not consider. The new crop is coming on weil in this state. Conrad Krebs, who was in the city yesterday, stated that the big Krebs yard at Inde pendence wil this year have the largest crop it has ever grown. The following wire was received from Charles M. Werner, of New York City: "Weather Is favorable now, but outlook for New York crop is dubious. Estimates range from i'5,000 to 35.000 bales." A London cable reported stormy weather in England and growers spraying. Unseed OH Ttecltnes. A B-cent decline in linseed oil prices was announced yesterday. The quotation on raw oil in barrels now Is 86 cents and on boiled 88 cents. Fgg Market Is Firm. , The egg market continues firm with most sales at 27 cents. Receipts are not heavy. The demand for poultry was fair and stocks cleaned up. Kens were quoted at 19 cents. Iressed meats sold at unchanged prices. Butter Btill cleans up well and the mar ket Is firm. The demand for cheese Is active. s Rank Clearings. Bank clearings of the Northwestern cities yesterday were as follows: Clearings. Balances. Portland l,3:J3,771 $r7,o:!2 Seattle l,7o.-.r.2.t 22lt4'3 Taroma 7S.78 31. H1 1 Spokane 73S.iiti O.llil PORTLAND MARKETS. Grain, Flour, Feed, Etc. FLOUR Patents. $5.15 per barrel; straights, $4.05(4.75; export. 3.60&3.SO; V alley, $5.30; graham. $4.80; whole wheat, quarters, $5. WHEAT Track prices: Bluestem, R4S."c; club. Kft3-Slc; red Russian. 7c; Vailev. 84c. PARLEY Feed and brewing, $1920 per ton. CORN Whole. $32; cracked, $33 per ton. HAY Track prices: Timothy. Willamette Valley. . $2fr'21 per ton; Eastern Oregon, $21 ft 24; alfalfa. $151; graLn hay. $17'i 38. MILLSTLFFS Bran. $20 per ton; mid dlings, $30; shorts, $21 22; rolled barley, $24.5025.50. OATS No. 1 white. $26 27 per ton. Ialry and Country Produce. BUTTER City creamery. extras, 29c; fancy outside creamery, 2S'u29c per pound; store, 20c. (Butter fat prices average lo per pound under regular butter prices.) EGG: Oregon candied, 27c per dozen. CHKKSK Kull ere m twins, 17ijl70 per pound; Young Ame..ca, lSlsiic POKK Fancy, 12 g1 13c per pound. VEL-YL Fancy, 10a 11c per pound. LAMBS Fancy. y;12c per pound. POULTRY Hens, llc; broilers. 30c; ducks, lH-26c; geese, l-Jc; turkeys, live, 20&22c; dress d. 35c; squabs. $3 per dozen. Groceries, Dried Fruits, Etc DRIED FRUIT Apples, 10c per pound; peaches, 7c; prunes. Italians, 45c; prunes, Frencn, 4 (Q 3c; currants, 10c; apricots. 13c; dates, 7c per pound; ligs, fancy white, Cfec; fancy black, 7c; choice black, 5'ic. SALMON Columbia River, 1-pound talis, $2 per dozen; 2-pound talis, $2.95; 1-pound flats, $2.lO; Alaska pink, 1-pound tails, 90c; red, 1 -pound tails, SI. 45; sockeye, 1-pound tails, $2. COFFEE Mocha, 24J?2Sc; Java, ordinary, 17 20c; Costa Rica, fancy, 18 20c; good, 16 lse; ordinary, 1216c per pound. NUTS Walnuts, 15c yper pound; Brazil nuts, g- ioc; filberts, lttc; almonds, 17c; pecans. lic- cocoanuts, 90c $1 per dozen. SALT Granulated. $15 per ton; haif ground, 100s, $10.50 per ton; 50s, $11 per ton. BEANS Small white, 5ej iarge white, 4c; Lima, 5 Vac; pink,. 7c; red Mexicans, T'Ac; bayou, 7 c. SUGAR Dry granulated, fruit and berry, $0.2.j; beet. $0.03; extra C, $5.75; golden C, J.tlo; yellow D, $5.'.5; cubes barrels), $.i.il5; powdered. $G.50; Domino, $10-402 30.lo per case. Terms on remittances with in 15 days deduct 14 c per pound, if later than 15 days and within oO days, deduct c per pound. Maple sugar. 15 18c per pound. RICE No. 1 Japan, 4-ic; cheaper grades, 8.50 4.55c; Southern head, 5V47c HONEY Choice. $5 3.50 per case; strained, 7c per pound. Provisions. BACON Fancy, 2Sc per pound: standard, 2o'-ae; choice, 24Vac; English, 22 (f 23 "Hs c HAMS 10 to 13 pounds, 20c; 14 to 16 pounds. 20c; IS to 20 pounds, l!)Vc; hams, skinned, 2lVtc; picnics. 35:-c; cottage rolls, none; boiled hams. 27't?20c. LARD Kettle, rendered. 10s, lTU-c stand ard pure, 10s. 17s;' choice. 10s. life. SMOKED BEE b" Beef tongues, each, COc; dried beef sets. 22s ; dried beef outside. 2nc dried beef insides. 23c; dried beef knuckles, 22c. DRY SALT CURED Regular short clears Oregon exports, dry salted, 17 c; smoked, dry salt. 17o; smoked, lSxc; short clear back, heavy dry salted. 10',2c; smoked, 18c PICKLED GOODS Barrels: Pigs' feet, $10; regular tripe, $tO; honevcomb tripe, $12; lunch tongues, $19.50; mess beef, ex tra, $14; mess pork, $30. BOSTON WOOL MARKET VERY QUIET. Small Trade In Spot Good at Low Level of Prices. BOSTON, June 10. The Commercial Bul letin will say of the wool market tomor row : Trading Is at a still lower point than last week, the principal transaction being that of 250 bales of New Zealand cross-breds 40s to 50s at 33rt?35c. A little fleece wool is moving at slight concessions, while sales of territory wool are practically limited to scoured stock, which sells at 62c. Elne York State three eighths sold at 2 Sc. Michigan quarter-blood at I' 6c and Ohio quarter-blood at 27W2Sc. California and Texas wools are without calls of importance.1 while pulled wools are moving very slowly. Eastern manufacturers are now operat ing in Oregon and Idaho with moderate free dom at 58gc60c scoured landed Boston, but dealers are buying very little wooL Coffee and Sugar. NEW YORK, June 1. Coffee eloped steady at a net gain of 5 all points. Sales were reported of 4fi,200 bags, but about half of this business consisted of exchanges from July to September, from September to May and from December to May. Closing bids: June, $.40c; July, 6.45c; August, 6.50c; Sep tember and October. 6.60c; November, 6.65c; December, 6.70c ; January, 6. 73c; February, 6.77c; March. 6.75c; April, 6.80c; May, 6.Slc. Spot coffee steady. No. 7 Rio, Sc; Santas No. 4. 9 He Mild coffee quiet. Cordova, 9 V ?i 1 2 1 i c. Sugar Raw. firm. Muscovado, .S9 test. 3.74c; centrifugal, .96 test, 4.24c; molasses sugar. .S9 test. .49c. Refined. steady. Crushed, 5.$5c; granulated, 5.15c; powdered, 5.25c. I m ort s and Ex port s. NEW YORK. June 10. Imports of mer chandise and dry goods at the port of New York for the week ending June 4 were valued at $15,266,004. Imports of specie at the port of New York for the week end ing today were 125,300ilver and $64. SIS gold. Exports of specie from the port of New York for the week ending today were $S77,C08 silver and $55,745 gold. Dairy Proiuce 'in the East. CHICAGO. June 10. Butter Steady. Creameries, 2-1 a 27c : dairies, 23 j 20c. Eggs, steady. Receipts. 8:i;2 cases. At, mark, cases included. 13 & 10 l-c; firsts. 17 c; prime rlrsis, lSic. Cheese, steady. Daisies. 15i 15Kc; twins. 14 oi 15c; Young America, 15 tj!5Uc; long horns. 15J151c. NEW YORK. June 10. Butter Barely steady, unchanged. Cheee and eggs Steady, unchanged. New York Cotton Market. NEW YORK, June 10. -Spot cotton closed quiet. Middling- uplands. 15.40c; do gulf, 15.."c. - bale's 17.535 hales. Futures closed steady; June, 15.2Gc; July, 15.3tc; August. l4.7Sc; September, 13.44c; October. 12-5ic; November, 12.4.c; Decem ber, 12.3Sc; January, 12,34c; March, 12.3iC OUTLOOK IS BETTER Business Prospects Improved Since Last Week. MORE CONFIDENCE SHOWN Compromise on the Question of Rail road Kates Is Regarded as Satis factoryCrop Prospects Are Decidedly Good. NEW YORK, June 10. It. G-' Dun & Co.'s weekly review of trade tomorrow will say: With a compromise effected on the ques tion of railroad rates, which, though de pending in part on action by Congress on the railroad bill, is regarded as satisfactory, and with crop prospects for both wheat and cotton decidedly good, the business outlook shows much Improvement over last week. The improvement is largely sentimental, but Increased -confidence almost Invariably leads to increased trade. Stocks of pig iron continue to accumulate, yet curtailment of production was on a much less extensive scale during May than in the preceding month. New business comes for ward in slightly larger volume in the West, and a better feeling exists as a result of the compromise regarding freight rates. Struc tural work continues quite active and bridge work pending aggregates about 25.O0O tons. Formal notice from the largest producers of cotton and woolen goods of an intention to curtail production very materially speaks difficulties besetting textile lines. Tradp in footwear continues quiet and manufacturers throughout New England are running under materially reduced headway. Leather Is de cidedly dull. Dullness and weakness charac terize the hide market and prices are lower on about all varieties. COMMODITY PRICES ARE DECLINING. Readjustment of Values Will Help- Trade Generally. NEW YORK, June 10. Brads treet's to morrow will say: Unseasonably cool weather still arrests re tall trade and retards crop progress in the northern half of the country, and trade is quiet In the southern districts, though cot ton and fruit crops there are making prog ress. Jobbing trade reports reflect quiet In con sumptive demand and a moderate volume of recorders, which are classed as frequent but small in the aggregate. Trade as a whole still hesitates, pending a clearer view of crop and price outcome. Industrial reports point to 'considerable curtailment of output. The temporary settlement of the railroad rate troubles and the postponement of ad vances In this item of cost of business op eration have given a brighter tinge to foil ing In some basic industries. The Week's price movement is toward a slightly higher range, reflecting largely crop uncertainty as regards the cereals and bullish operations In the remaining old crop cotton months, but the monthly returns of price movement point, to a continuance of the readjustment of commodity values on a lower level, where hiph cost will not, as in the past, automat ically check consumption. Future trade in cotton goods is backward with operators cautious. In woolen goods trade is also, backward, and there is some idle machinery. Sole leather is steadily bought on local and export account. Bad weather restricts trade in shoes. Pig iron Is more active, but prices are weaker. Business failures in the Vnited states for the week ending June 9 were 1!, against 10O last week, 107 in the same week of li01. 2.'.3 in 1W8 1G1 in 1107 and 170 in 1000. Business failures in Canada for the week were 30, against IS last week and 29 in 1OO0. Wheat, including flour, exports from the 1'nited States and Canada for the week end ing June 1 aggregated l,700.0r.i bu&hels. against 2.970. fi63 Iat week and 1,857,184 thi week last year. Bank Clearings. NEW YORK. June 10. Bradstreet's bank clearings report for the week ending J une shows an aggregate of $3,491,800,000 as against f 2,sr0,9S3.00t last week and $3,416.- 4U5.00O in the corresponding week last year. P. C. Inc. New York $2,261,168,000 0.4 Chicago 272.207.000 Q.2 Boston l.".7,,"4 5,000 3.1 Philadelphia l."4. 073,000 15.9 St. Louis 73.SS2.0OO 16.8 Kansas City 46. 019.000 4.5 Pittsburg 52.747.000 21.0 San Francisco 43.777,000 23.0 Baltimore . . . , 29.841,000 9.0 Cincinnati 22.991.0o0 10.8 Minneapolis 1S.736.0U0 17.4 New Orleans li,64S,00f "1.3 Cleveland 18.104.000 19.3 Detroit '. 17.260,000 28.9 Omaha l."t.7S6.000 2.8 Los Angeles IS. 790, 0 00 21.9 Louisville 32.018.000 3. 1 Milwaukee -12.246.otiO s.l Portland, Or 9,:i0H,o0O 3. 8 Seattle 11,650.000 3.0 St. Paul 10.790.0OO 31.1 Buffalo 9.335.0 00 9.8 Denver 9.S44.O0Q 9.9 Indianapolis ........... S, 66. 000 3.8 Atlanta 8.542.00O 4.1 Providence 6.920.000 5 . 2 Memphis 5,035.000 3.1 Richmond , 7,641.000 8.0 Fort Worth 5. 660.000 12.9 Salt Lake City . , 6.96S.000 21.4 Washington, D. C. 9.111.000 21.9 St. Joseph 6.053.O00 19.9 Columbus 6.197.O00 0.5 Albany 7. 04$. 000 29.4 Tacoma o. 656. 000 7.2 Savannah 3.50 7.000 7.5 Spokane. Wash 5.126.000 40.4 Oakland. Cal 3.1 07,000 60.9 Sacramento 1,389.000 18.9 Houston 25.963,000 4.3 U-alveston 12.239.000 36.0 Decrease." BEARS 'IH-WALL STREET HAMMERING PRICES UOWX FOR THEIR OWX PROFIT, Character of tlie Selling Shows the Manipulation That Is Being , Carried On. NEW YORK, June 10. The languor of the demand for stocks which began to be mani fest yesterday prompted a renewal of opera tions tor the decline today on a moderate scale. The volume of the dealings was greater than those yesterday but to a slight extent. The rumors of the identity of the sellers supported the suspicion rife in the speculation that a purpose to depress prices for profit furnished the leading motive for the selling. The depression . was scribed to dissatis faction with the railroad rate situation and to the condition in the copper trade. The celling of the coppers was attributed, to a large extent, to Boston and foreign sources, and it had as explanation the accumulation of surplus stocks of the metal; a sharp drop in the London price of the metal today and a feeling of discouragement over the sus tained rate of production of the metal with no corresponding expansion in the demand. The selling of United States Steel at the same time was an Influence of sentiment. The selling of the metal stocks was made to appear as though coming from the flnanciel party which has been credited with main taining an attitude of discontent with the railroad rate agreement with the Govern ment. St. Paul in the meantime was less conspic uously under pressure today than on previ ous days this week. The progress of the railroad bills through the conference committees of the two houses of Congress is watched with solicitude. Preliminary estimates of the week's, cur rency movement indicated a continued in flow of cash to New York. Interior banks, however, are known to be fortifying their cash holdings in expectation of a call from the controller for a statement of condition. Money continues easy in New ork, buc there is little demand from stock market sources. The-movement toward recovery of the foreign exchange market finds some ex planation In the small volume of May ex ports of agricultural products, as reported by the bureau of statistics. The operations in the May cotton option were responsible for the small volume of cotton exports. Wheat exports for the week fell also 1,270, QiW bushels below those of last week. Bonds wer irregular. Total sales, par value, 91,607,000. Vnited States bonds were unchanged on calL CLOSING STOCK QUOTATIONS. Closing Stales. High. Low. Bid. Allis Chalmers pf -9 Amal Coppepr 83,:oO 61 Am Agricultural .. H- 43 43 3'? Am Bret Sugar .. IVO 34 33 American Can -" iTs Ms Am Car & Fdy .. 1,7H f-5i 54 . P4 Am Cotton Oil 4rJ ti t2 til 4 Am Hd & Lt pf. KO 34 34 34 ArnT Securities'.. 23 Am Lineeed Oil .. 2X 12" 12 12V Am Ioomotlve I,2u0 4-'4 " 42i 42 Am Smelt & Ref.. l,3w Ttia 7-H-b tii do preferred . . . 4o 1 -2" 102 102 Am Steel Fdy ... 100 63 54 51 Am Sugar Ref 11 Am Tel & Tel 8" 135 134 S 1344 Am Tobacco pf .. 10o y." ." Am Woolen loo 32 32 314 Anaconda Min Co. 4, 600 4oi2 3&U Atchieon lo.mHr H1. 10-4 1o4 do preferred-... loo 101 ivlit All Coast Line oUO li 119S iul Bait & Ohio 70O 1124 111- Hla Bethlehem Steel 4tK) 2 2t 26 Brook Rap Tran.. 3,1ik 7iH 77 77 Canadian Pacific .." 60O lH5-)n - 1M51 Central Leather .. l.OW 3b 37 371 do preferred . . . lm lOtiVs -otVs Central of N J SUK Ches & Ohio .... 5.1M 824 814 Chicago & Alton 000 31 30 31 Chicago Gt West - do preferred ... IOO 47 47 47 Chicago & N W ... 34 M 145 145 144 C, -M & St Paul 16.1WO 120 125 1255s C. C, C St L TSSi Colo Fuel & Iron. Sou 854 3:1 Colo & Southern .. 100 5S 58 5S Con solid a ted Gas.. 6, H- k 1 35 T4 1 33 14 133 Corn Pioducts . 1'K) 15 15 15 Del & Hudson l,3oo 104 14 104 H34 I & R Grande ... 1,200 35 344 34 do preferred .......... ..... ..... 78 Distiller Securi ' 2l Erie 4, 60 26T4 25 25 do l.t preferred. OuO 44 43" 43 V do 2d preferred 32 Va General Electric .. 400 J44 1434 14-"S Gt Northern pf ... 2 80 131 li"4 I''m Gt Northern Oce. 3:0 59 58 59 Illinois Central ... 2"0 138 133 132 InterborouKh Met.. 1.4" 19 18 ltH do preferred . . . l,5o 51 T4 5o Inter Harvester .. l,2ot ttVa iT Inter-Marine pf .. 100 17 17 17 Int Paper ......... 2oO 11 11 11 Int Pump 4514 Iowa Central .... 300 lft 4 ltSi 18 K. C Southern .... . 4uo 32 32 - 32 do preferred V.. 0-4 Laclede Gas 3,800 102 101 1014 Louiervtlle & Nash l.tio 144 142 142i Minn & St Louis. 30 M. St P- & 9 S M. 2H 1374 1374 137H Mo. Kan & Texa w 2, OoO 40 '38 3S do iiref erred 67 , Missouri Pacific .. 800 67 7 H7 National Biscuit .. lo5 National Lead ... 1.O0O " 734 73 72 Mex Nat Ry 2d pf 3UO 27 26 26 N Y Central S,HX 1164 115K, 115a N Y, Ont & West. 10O 43H 4374 437s Norfolk & Wert. ..l.loo 100 W North American .. 4W 70 fif Northern Pacific .. 2,30 126 124'-, 12-t-s Pacific Mail ....... 2n . 24Vj 241.4 24 Pennsylvania 10,100 1317 130'a 131 People's Gas .... 700 lo7a K'5 lGo'fc P C C & St L. . . IOO 8S : S 8 Pitts-burg Coal : 184 Pressed Steel Car. 1,000 35 34 U 34 Pullman Pa! Car. 3oO 100 100 15S Ry Sttel Spring 33 Reading lll.&O 154 152 ' 152 hr Republic Steel ... l.tiuO 32 30 - 3 do preferred . . . 200 i4?4 !'4 04 Rock Island Co... 8.3X 4U 39 39 do preferred . . . IOO 65 85 fe-ii St L & S F 2 pf. 2.200 413 30 3 St L Southwestern 2! do preferred ... 100 73 73 73 SIoas-ShefTield 1K 68'fvS 68 Southern Pacific .. SS.O-'O 122) 20 120 Southern Railway. 200 25 25 25. do preferred 4v0 5U 5y 5: Tenn Copper 24 V Texas & Pacific -. 300 30 2 2 Uj Tol, St L & West.. 1.4HW 28 26 2614 do preferred . 58 Union Pacillo . . . 63.30O 173 170 17o do preferred ... 60OO &2 92 2 U S Realty k 71 V S Rubber 5-m 39 38 38 U S Steel 128.0O0 78 77 77 do preferred ... 2.t;o0 116 115 113 Utah Coppper 2,7o0 44 43 43 Va-Caro Chemical. 2.K0 OU 5H : Wabash 10 19 18 do preferred 3,700 43 42 41 Western Md 2G0 44 44 43 Westinghouse Elec 60 Western Union ... 200 04 64 ,63 Wheel & L Erie 3 Total sales for the day. 633,800 shares. BONDS. NEW YORK. June 10. Closing quotations: U. S. ref. 2s reg.lO0IN. Y. C. fe-n. 3s 8'J do coupon . . .100 I No. Pacific 3s. . . 70 U. S. 3s reg. ., . . 1O0No. Pacific4s lOOVi do coupon . . . IOI i;nion PacifTe. 4s.lOOVa U. S. new 4s reg. 114 , W is. Central 4s. . 00 H do coupon . . . 114 Vs Japanese 4s ttOH D. & R. G. 4s. .43 Money, Exchange, Etc. XBW YORK, June IO. Money on call easy, 2&4; per cent: ruling rate, 2 per cent; clos ing big, 2 per cent; offered at 2 per cent. Time lanj steady; 60 days. 3&3 per cent and irJ days. 3 per cent; six month?. 4&4 per cent. Prime mercantile paper, 4fe5 per cent. Sterling exchange firm, with actual business in bankers billf, at $4.8454.8435 for 60-day bills and at $1.SH80 tor ueniand. Commercial sull. $4.83 6 4.83. Bar silver, 53 - t ; Mexican dollars, 44c. GovemntMtt bonds steady ; railroads, irreg ular. . . . . . i :-.tl LONDON, June 10. Bar silver Quiet, 24 l-10d per ounce. Money 2. &.; per cent. The rate of discount in the open market for short bills is 2 2 4er cent. The rate of discount in the open market for three months bills is 2 per cent. Consols lor money, &2 3-lt. Consols for Recount, 82 5-16. CHICAGO, June 10. New York Exchange IO discount. SAN FRANCISCO, June 10- Sterling on London. 6 days. 54.84; do sight, $4.87. Si Iver bars 53 14 c. Mexican dollars 15c. Lrafts Sight. 4; telegraph, 7- Iaily Treasury Statement. WASHINGTON, June 10. The condition of the Treasury at the beginning of busi ness today was as follows: Trust funds Gold coin $8j7,2O2,S09 Silver dollars 4UO.757.OttO Silver dollars of ISOO 3,694,000 Silver certificates outstanding... 490,750,000 General fund Standard silver dollars In gen eral fund 1.3-01.112 Current liabilities 08,312.030 Working balance in Treasury of fice . . 19.46G.546 In banke to credit of Treasurer of the United States 3S.t;23,0O4 Suhsidiary silver coin 20,900,807 Minor coin 1,133,507 Total balance in general fund... 83,789,755 Eastern. Mlnlnj? Stocks. BOSTON. June IO. Closing quotations: Allouex 40 (Mohawk 48 Amalg. Copper. . 61 Nev. Con. ex dv. 19 A. Z. L. & Sm. . 24 'Nip. Min. ex dv. 1 1 Arizona Com.. . . 14iNorth Butte 27 Atlantic 6lNorth Lake 10 B & C C & S M. 12 (Old Dominion... 33 Butte Coalition.. 18 (Osceola ...130 Cal. & Arizona. 57 Parrott (S & C) 13 Cal. & Hecla...550 jQuincy 74A Centennial 15 Shannon 10 Cop. Ran. C. Co. 60 "4 Superior 40 E. Butte Cp- M. 7Sup & Bos Min.. 8 Franklin 11 ISup A Pitts Cop. 11 Giroux Con 6 Tamarack 50A Granby Con. ... 37U. S- Coal & OH. 35 Greene Cananea. 7ajU. S. S. R. & M. 4 I. Rovale (Cou.) 17'i; do preferred .. 49 Kerr Lake 8t'tah Con 21 Lake Copper. . . . 49 Winona 6 La Salle Copper 11 I Wolverine 112 Miami Copper .. 19 SEATTLE BUTTER WEAK BIT EGGS ARE FIRM QUOTED HIGHER. AND Cherry Prices Drop With an Over Supply Three Cars of Berries - Are Shipped East. SEATTLE. June 10. (Special.) The cher ry market went completely to pieces today under heavy receipts, which dealers had dif ficulty in moving. Royal Annea sold as low as 75 cents, and Blngs did not sell above $1.25. Large stocks of cherries will be car ried over. Other perishables, such as can taloupes, peaches and apricots, were not so plentiful, and held their own. Another high mark in berry receipts was set today, when a total of 5501 cratea arrived. Three car loads were shipped East. Prices range from $1 to $1.25. Dairy produce prices were unchanged, yet there was a material change in conditions. The butter market displayed considerable weakness and eggs were decidedly firmer, with several houses asking 31 cents for fresh locals. Poultry receipts- were heavier, but prices were unchanged. The grain markets were unchanged and easy. Oulnth Flax Market. DULUTH, June 10. Flax, on track, to ar rive and July. $1.92; SeptembeT, $1.67 asked: October, $1.57 asked. NEW WHEAT OFFERS Pressed for Sale on the Texas Markets. WEAKENS CHICAGO PRICES Xo Chance of a Squeeze in the July Option Cash Demand for Grain Comes to an End."' CHICAGO. June 10. As a bogey, the idea of a squeeze in the Jtrly wheat delivery here was put out of business today, for the time being at least. It was asserted that the scare had fceen manufactured by local Fpec u la tors. However that may be, an increased premium for that option was wiped out and the market closed at a net decline of c to lc. Corn rlnlshed c down and oats llc provisions were 2o lower to I2c higher. Pressure of new wheat on the Texas mar kets and ot old wheat at Kansas City great ly relieved anxiety on the part of the bear ishly disposed traders In. Chicago.- Fine weather, easier cables and improved crop conditions combined to suppress quotations. Even more forceful In this respect was the discovery that the edge seemed to be coin ing off the cash market. Mills have been generous buyers lately and were said to be well stocked. September started within a lc limit, from 0c to 91 c closing easy at 10 r-f0c, a net loss of lc. Forecast of weather generally wsxming up and clear overmastered nervous shorts In the corn market. September ranged be tween 5ff5y3c and 60c finishing easy at 50c. The cash market was firm; No. 3 yellow closed at 00?60c, News that new Texas oats were offered In -St. Louis on a basis of 34c had consider able to do with weakening the price of the cereal here. September fluctuated from 3535c to 3524 c, remaining finally on the low level. Purchases by local shorts In provisions ral lied that market. In the end pork was 2c lower to 12c up, lard 2g-5c down and ribs 2c up. The leading futures ranged as follows: WHEAT. . Open. High. Low. Close. July $..9-" $ .97 -94 $ .94 Sept 91 -91V .90i .90" Dec... .. .91 .91 .90 .90 CORN. July 59 .60 .58 .59 Sept 60 .60 .59 .59 Dec 57 .58 .57 .674 OATS. Julv 37 .37 .36 .36 Sept 35 -85 .35 .35a Dep. 36 V .36 W .35 .35 MESS PORK. July 22.50 22.62 22.40 ' 22.62,4 Sept 21.90 21-95 21.S0 21.92 LARD. July 12.45 T2.45 12.35 12.40 Sept 12.30 1.37 12.25 12.35 SHORT RIBS. Julv 12.85 12.87 12.75 12.87 Sept 12.37 12-40 12.7 12.40 Flour Stead v. Rye No. 2, 76gi77c. Barley Feed or mixing... 47(g 55c; fair to choice malting. 60 b6c. Flax seed No. 1 Southwestern, $1.82; No. 1 Northwestern, $1.92. -K Timothy seed $1.35. Clover $11.25. Pork Mess, per barrel, $22.I523. Lard Per 100 pounds, $12.35. Short ribs Sides (loose). $13(gl3.S7. Sides Short, clear Uoxed, $13.75 14. Grain statistics: Total clearances of wheat and flour were equal to 71.000 bushels. Exports for the week, as shown by Bradstreet's, were equal to 1.700.000 bushels. Primary receipts were 276,000 bushels, compared with 146.000 bush els the corresponding day a year ago. Es timated receipts for tomorrow: Wheat, 8 cars; corn. 224 cars; oats, 130 cars; hogs. IS, 0O0 head Receipts. . .. 17.J00 . .. 24.000 . ..201.500 . . .169,200 ... 1.000 . .. 46,500 Shipments. 6,900 49.600 43S.700 229.80O 1.000 88,700 Flour, barrels ... Wheat, bushels . Corn, bushels Oats, bushels ... Rye, bushels . . . Barley, bushels v. Grain and Produce at New York. NEW YORK. June 10. Flour Easier. Receipts, 22.288 barrels; shipments, 9ti0 barrels. Wheat-rEasy. No. 2 red, nominal c. i. f -; No. 2 Northern. $1.12H nominal f. .0. b.. Options quiet and steady, with some offer ings and covering by shorts,- but eased off late on favorable crop advices from North west, closing 4c net decline. July closed $1.01: September, 97c; December, .Sc. Receipts, 18,400 bushels; shipments, 25.0S3 bushels. Hops, petroleum and wool Steady. H ides Firm ; Central America, 22c ; Bo gota, 23c. Minneapolis Grain Market. MINNEAPOLIS. June 10. Wheat July, $1.03 : September, OO Tfc c ; December, 80 He. Cash No. 1 hard, fl.OSHi : No. 1 Northern. $1.05 fc l.07 ; No. 2, $1.03 1.05 ; No. 3, $1.00 i&1.03. Flax Closed $1.92. Corn No. 3 yellow, 54(3'55c. Oats No. 3 white. 34 35c. Rye No. 2. 65 09c. European Grain Markets. LONDON, June 10. Cargoes dull but steadier; Walla Walla for shipment at 32s to 32s 3d. V JOngiish country markets steady; French country markets dull-. LIVERPOOL, June 10. Clce: Wheat, July, 6s 5d; October, Os 7d. Weather, thunder storms. Grain svt San Francisco. SAN FRANCISCO, June 10. Wheat Steady. Barley Easy. Spot quotations: Wheat Shipping, $1.42 ?1.47- Barley Feed. $1.07 f 1.10; brew ing, $1.12. Oats Red, $1.17 1. 30; white, $1.42 1.47 ; black, nominal. Call board sales: Wheat None. Barley December. $1.00 1.01. Corn Large yellow, $1.701.75. Grain Markets of the Northwest. TACOMA. June 10. Wheat Bluestem, 82e; club, 79c ; red Russian, 79c. FEATTLB. June 10. Milling quotations: Bluesicm, S5c; forty-fold, S3c; club. 82c; Fife. 82c; red Russian. 80c. Export: Bluestem, 82c; forty-fold, felc; club, 80c; Fife, 80c; red Rus sian, 7Sc Yesterday's car receipts: Wheat 9, oats 4k - Metal Markets. NEW YORK, June IO. The market for standard copper was easy today with spot and ail deliveries up to the end of August quoted at 12-20& 12.35c The English mar ket was steady after a weak opening with spot quoted at -55 8s 9d and futures at 50 2s lid. Local dealers quote lake copper at 12.75 6 13c; electro, 12.212.73 and cast ing at 12.37 & 12.30c. Tin qui ft. Spot titM .Tune. ?? 32. ?Oc; Many property owners KNOW NOW many will learn, that BITU1ITHIC Pavement has mora sta bility, more real vain than any other hard-surface pavement laid. l.um bermens National Bank CORNER FIFTH AND STARK STREETS T PORTLAND, OREGON Capital ' " OFFICERS. . G. K. t entworth '.President John A. Keatlne Vice-President Geo. 1. McPhmon VIce-Prealdent II- I. Story....'. ...Cashier P. A. Freeman Assistant Caabler Graham 1) u kr h art. .A.al. taut Caabler THE UNITED STATES NATIONAL BANK PORTLAND, UNITED STATES DEPOSITORY Capital - - - $1,000,000.00 Surplus and Profits. $725,000.00 OFFICERS: J. C AIXSWOIITH, President. R. W. SCHMEER, -Cashlor. R. LEA BARKES, Vlee-Prealdent. A. M. WRIGHT, Assistant Cashier. W. A. BOLT,. Assistant iOaaaiarv LETTERS OF CREDIT AND TRAVELERS CHECKS ISSUED NEGOTIABLE EVERYWHERE DRAFTS DRAWN on all FOREIGN COUNTRIES irst National Ban Capital $1,500,000 Surplus 750,000 Oldest National Bank West of the " Rocky Mountains & TRUST SAMUEL CONN ELL, Pre.i, ident CAPITAL, Does a general banking business. Opens checking accounts without limitation as to amount. Pays interest on time and savings deposits. Issues travelers checks and foreign drafts available everywhere. CORKER SIXTH AND OAK, September. 32.303'32.SOc:' London market firm. Spot. 118 10s; futures, 119 15s. Iead easy. Spot, 4.404.ri0c New York 4.2rc Bast St. Louis. London steady, with spot at 12 lis 3d. Spelter dull. Spot. o.505.60c New York and 4.1)53.020 East St. Louis. The Lon don market was lower, with spot quoted at 22 2s Bd. . Iron declined to 4fts 3d for Cleveland war rants In London. The local market was dull. Wool at St. Louis. ST. LOLHS. June 10. Wool Lower; terri tory and Western mediums, 16Vj'21lc; fine mediums". TtWilTc: fine, 12ffi04c. PORTLAND, SEATTLE, SPOKAKE, TACOMA. Downing-Hopldns Co. ERQKERS Established 1S03. Pfoclrs, Irl-vat Grain. - Wires 901-2-8-4 Conch Bids. TRAVELERS' GLIDE. 1 fic .anaaian aci Less Than Four Days at Ssi Weekly Sailing Between Montrai Quebec and Liverpool. Two days on the beautiful St. Ltwrrac River ana the shortest ocean, rout to u roDA. Nothlns better on the Atlantic than oar Empresses. Wireless on all steamers. First-closaa (N. second 31J25. on class cabin 17.50. Ask any ticket agent, or writs for satl lnga. rates and booklet, C R. Johnson, Oen cral A K cot. 142 Third St.. sfortland. Or. HONOLULU $110 And Back Firrt Class). 5 iji Duvi from 2. h'. Xhe splendid twin screw steamer SIERRA (10,000 tons displacement) sails June - IS. July and every 21 days. Bound trip tick ets rood for four months. Honolulu, the most attractive pot on entire world tour. UOOK NOW and secure best berths. UNE TO TAHITI AND NEW ZEALAND. S S. Mariposa and Union Line, sailings Jum 29, Aug. 6, etc, Tahiti and back (24 days), $125 nrst class. New Zealand (Wel lington). 9246.25 first class. K. T. six months, . , OCEAXIC 8. 8. CO., 673 Market Street, San Francisco. San Francisco & Los Angeles DIRECT North .Pacific S. S. Co.'s S. S. Roanoke and S. S. Elder sail every Tuesday alternately at 8 P. M. Ticket office 132 Third St., near Alder. II. YOl'XG, A(rt. Phones M . 1314, A 1314. $500,000 mRECTORS. 1 K. Urntwonh (bus. S. Kuswll r. S. Brumhv Dr. K. A. J. Markrnxta Geotve ti. Bingham L.loyd J. W.tUwrortu J. K. V!iri-l-r I McPhrnoB John A. KestinR Hubert Treat l'latt 11. I. Story . OREGON COMPANY G. L. MacGIBBON, Caihlor $150,000 PORTLAND, OIIEGOX. TRAVELERS' GUIDE. ALA COOL SUMMER CRUISES VIA SMOOTH "INSIDE PASSAGE" Only Seven Cruises; Number of Passengers - Limited; Best Reserve Berth Quickly. FARE S IOO AND UPWARDS INCLUDING BERTH AND MEALS CTWrite for folder containing large picture of famous MU1R GLACIER, free. Address "TICKET AGENT," PAClfIC COAST S. S. CO. 249 WASHINGTON ST. - PORTLAND QC CANDIN AVIAN"-AMERICAN LINE 1 10,000 Ton Twin-Screw Passenger Steamers Direct to NORWAY, SWEDEN AND DENMARK Oscar 31 June 9;Oecar II July 21 C. K. Tietgen. . June 16Unlted States. . .Aug. 4 1'nlted States. .June 23Hellig 01av....AuK. IS : HelllB Olav July 2 All Steamers etinlpped wttli Wireless First cabin. $75 upward: second, $60. A. B. JOHNSON & CO.. 11 Washington Are.. Boutn Minneapolis, Minn., or local Aeents, SAN I-RANCTSt'O tt PORTLAND STEAM SHIP COMPANY. Onlr direct steamers and daylight sailings. From Ainsworth dock. Portland. B A. M. z SS. BEAK. JCNE 11, 25, ETC. fcS. BEAVElt. JL'NE 18. From Pier 4u. San Francisco, 11 A. M. : SS. BEAVER, JUNE 11. Sfi. BEAK, JUNE 18. ETC. HARRY G. SMITH, C. T. A., 142 Third St. Main 402. A 1402. J. W. HANSOM, Dock Agent, Ainsworth Dock. Main 2tiS. A 1234. Columbia River, Port land and Astoria Route Steamer Hassalo leaves Portland, dally from Ash-street dock, except Sunday, at S P. M. (Saturday at 10 P. M. ) ; returning, leaves Astoria daily, except Sunday, at 7 A. M. Tickets interchangeable with steam er "Uurllne," which leaves Astoria daily. except Sunday at 7 P. M. COOS BAY LINE 6-DAY SKKVICjS. Steamer Breakwater leaves Portland 9 A M.. June 6, 13. IS. 23. 8 and eve rv five days from Ainsworth. Dock, for North Bend, . Marshneld and Coos Bay points. Freight received until 5 P- M. daily. Passenger fare, first-class. $10: second-class. $7, including ; 1 erth and meals. Inquire City Ticket Office, 3d and "Washington sts., or Ainsworth Dock. Main 268. SEASICKNESS Wty be prevented and relieved by using TOMQIE MAL DE MER, a safe and relia ble remedy. Take a bottle with you and in sure yourself all pleasures of an ocean voy age. - Sold by leading druggists. Price 60 cents, or mailed, postpaid, by NEPTO'E HEM EDS CO., Sole Manufacturers. Phone Main 307; A 6512. Portland. On