THIS MUKM.U UKEUOLlX, THURSDAY, JUJLX 28, 1910.
19
ABOVE EXPORT BASE
Scarcity of Wheat Sends
Prices High.
DOLLAR PAID FOR GRAIN
A$ Soon as New Crop Eegins to Move
Freely Market Will Have to
Bo Adjusted to Foreign
Values.
The wheat market is again on the dollar
bull, but that It will not stay there long;
seems to bo a pretty evident fact. At the
present time there is a shortage of wheat
on the market and an urgent demand for
some moderate-sized lots has forced prices
up. The demand is not of large proportions
and as soon as the new crop begins to move
It is clear that prices wilt be adjusted to
the actual market value, which will be the
export price of wheat. The export , value
of bluestem yesterday was 90 cents, which
was 10 cents leva than was being paid for
spot wheai.
Another lot of new-crop bluestem was sold
at Walla Walla, the price being 90& cents
f. o. b.. which Is equivalent to 99 cents
here. It was a local proposition there, how
ever. There were only 160 bushels in the
lot, which was shipped to a Waitsburg mill.
Borne small lots of old bluestem were taken
up yeetcrday by local dealers at $1-
These prices are regarded by grain men
as abnormally high and due solely to the
scarcity at the present moment. As soon as
new wheat begins to move freely the buy
ing will have to be on the basis of the for
eign markets, and there Is every reason to
believe the movement will be of unusually
large volume. Within the next 60 days a
large amount of wheat will be sold in the
Northwest. The banks. It is said, are not
going to allow the farmer to borrow in or
der to hold their wheat and speculate on it,
and for this reason the warehouses will not
be in & position to advance funds to the
farmers. A. big business has been done in
the past season by the implement-houses,
and they, too, will, no doubt, bring pres
sure on the growers. So, taken altogether.
It is safe to say there will be some heavy
selling In the next two months, and that
prices will be on a strictly market basis.
The feeling was not so firm either In the
locul market or in the country yesterday as
on Tuesday. No frefh offers foY new-crop
Muestem were reported. Buyers were offer
ing 73 cents for new club in the Walla
Wad la country.
The first car of 1910 wheat To reach Port
land was received ly Balfour, Guthrie & Co.
from Mikkalo, Oil Ham County.
Local receipts, in cars, were reported yes
terday by the Merchants' Exchange as fol
lows; Wheat Barley Flour Oats Hay
Monday 11 .... 10 17
Tuencliiy T.I -2 tf 1 4
Wednesday 31 1 tt
Year agf 1 2 .... :j 5
Sea-son to date. .21'J !! L03 4-4 135
Year ago 4m.i H5 4t 73
HOP BL'YIXO IS AGAIN ACTIVE.
About 1200 Bales of 1909s Bought by Oregon
Oeulers.
The unfavorable hop crop reports that
have been coming from Kurope have been
responsible for an active buying movement
in the hop market In the past few days.
Since lust Saturday, about 1200 bales of last
year's crop have changed hands. The buy
ing has been for Kastcrn account.
William Brown & Co. are reported to have
purchased Hut) bales, the J. W. Seavty Hop
Company iioo bales from growers and ISO
bales from dealers, and A. J. Ray & Son
153 bales from growers. These are all 1909
Oregon hops and the prices paid were said
to range from 8 to 12 cents. McNeff Bros.,
in the same period, bought yt3 bales of
"Yaktrras; also a carload of West Side Ore
gons and 65 bales of Eugene hops.
. There is also a considerable demand for
contracts. Catlin & linn are reported to
have bought UOO bales at Sheridan at 13 y
cents. Thirteen cents was being freely of
fered yesterday, but sellers- were reserved.
A CaliTornla wire said dealers of that
state were again in the market for 1909s.
The trength of the foreign market was
shown by the sale of a carldad of 1907 Ore
gnns in London at a price equivalent to 11
cents here.
The long dry spell fs beginning to have an
effect on the growing Oregon crop. A month
ago the crop was estimated at about 110.000
bales, but In the past few days wagers have
been made that it will not exceed 93.0m
bales.
riCACII KKC EIPTS r KOM THE OALLKS.
Apricots Arrive From Wenatchee in Poor
Condition.
The fruit market was heavily stocked with
Dalles peaches, which sold alow at 40 to
05 cents a box. A car of Wenatchee apri
cots arrived, but they were not in very good
condition. The best were offered at Jl1jt.25
per crate. New apples were plentiful and
sold all the way from 50 cents to $1.50 per
box. recording to quality. The cantaloupe
market was well supplied and weak and the
same can be said of watermelons.
Among the other arrivals were a straight
car of California Elberta peaches, a mixed
car of California peaches and tomatoes and
a car of Walla Walla onions.
1 Poultry Mnrket Still Weak.
Tlie poultry market is still weak under
heavy arrivals and a backward demand.
Hens and Springs were offered yesterday at
lrts cents and the indications are that
Sprirgs will sell even lower than hens in
the near future.
Eggs were steady and unchanged, with
light receipts of Oregon.
The butter market was firm at last quo
tations. Metal Market.
NEW YORK. July 'J 7. Standard copper,
firm. Spot itnd July. 11.75c bid; August and
September. J1.75i 1 2c: October, ll.soj 2c,
London, firm. .Spot. 10s and futures 5S
"s 9d. Arrivals reported at .evr York 550
tons. Custom-house roturns showed exports
of S3 tons, mukins 19.fitiO so far this month
Local dealers reported a strong market for
copper and say that sellers are offering
less freely, following the recent larger busi
ness, although no quotable changes have
occurred In pi 'es. Lake. 1 2.62 H f 12.S7 -c;
electrolytic. 12.3 . t l.'.oOc: casting. 12.1 14
I5.25e. x
Tin. irregular. Sp. and July. 32.60 t
33.25c; August. 32.40ifi 32.65c; September.
3?.rQi 32.7ic; October. 32.S2 4? 32.75c. Lon
don tlnn. Spot. 119 3s: futures. 150 7s 6d.
Lead. easy. Spot. 4. 25 wr 4.45c New York
and 4.201 4. ;t2c East St. Louis. London
spot. 12 Ss SM.
spelter, dull. o.. 0 $ S.fiOc New York and
4. !.! 5.0.c Last St. Louis. London spot,
22 12s Sd.
Iron. Cleveland warrants. 4Ss ?ud in
London. Locally iron was ctuiet. No. 1
foundry Northern. $ 1 6.50 f(i 6. 75 ; No. 2 $18
l southern. $ 1 1. 25 16, 75 ; No. 1
Miuinfrn sort, itsi 16.25.
Dried Fruit at New York.
NEW YORK. July 17. Evaporated annles.
quiet: steady on spot. Fancy, quoted at
ltf'-ril'-c: choice. 8S&9hc; prime, 7Hff
fic : common to fair. 6 It 7c.
Prunes, quiet. Quotations ranging from
3i3Vc ror t'aurornias up to 3Q-40s and 4 V
t 9 o for Oregons.
Apricots, quiet but firm. Choice. 9 ?
i s; extra cnoice. io'j g we; fancy. 10 V
4j1i',c.
Peaches, quiet, steady. Choice. Stc;
extra choice. 7o 7 U c; fancy. 7 i ft 7 Sc.
Ratslns. quiet, but stocks are small and
prices firmly held. Loose muscatels, 3ti
3c; , choice to fancy seeded. 4 Q(c;
seedless, 33i 4 lie; London layers. $ 1.20 9
1.23.
Grain and Produce at New York.
NEW YORK. July 27. Flour, steady. Re
ceipts 21.235; shipments, 43::".
Wheat Spot steady. New No. 2 red, $1.03
elevator to arrive c. i. f. and JlJtSV f
o. b. afloat. No. 1 Northern. $1.31 H t. o.
b. There was an easier -feeling in wheat
most of the day under selling on the weak,
cables and further pressure of cash wheat,
but rallied later on bullish crop estimates
for North Dakota and covering by shorts,
closing .c net lower. September closed
$l.9i ; December, $1.12 . Receipts, 55,
200. Hops Dull.
Hides and wool Quiet.
Petroleum Steady.
Coffee and Sugar.
NEW YORK, July 27. Coffee closed steady .
at a net decline of 1 to 5 nnlnts. Kales.
26.000 bags. Closing bids: July, 6.85c; Au
gust, 6.7ftc; September, 6.75c;,, October, 6.S0c;
November,- 6.85c; December, 6.Hc; January,
6.0c; February, 6.00c; March. 7.05c; April.
7.07c ; May. 7.ac ; June, 7.0 9c. Spot coffee
steady. Rio No. 4. 7 c ; Santos No. 4.
&9c. .Mild, quiet. Cordova, ldiglOc.
Sugar Raw, firm. Muscovado, .89 test,
S.fcttc ; centrifugal. .98 test, 4. 3 tic; molasses
sugar. .89 test, 3.61c. Refined, steady.
Crushed, 5.85c; granulated, 5.15c; powdered,
5.20c.
Bank. Clearings.
Bank clearings of the Northwestern cities
yesterday were follows:
v Clearings. Balances.
Portland $1.4S,87S $132,122
Seattle 1,;.78.244 1S7,0S
Tacoma 97.".37-t (.S.rtWT
Spokane 6.SU,5i3 95,023
PO RT LAN MARKETS.
Grain, Flour. Feed. Eta.
WHEAT Bluestem. 99cl; club, 90c;
red Russian, SSc; Valley, 90c
FLOUR Patents, $5.35 per barrel;
straights. $4.3054.95; export. $4; Valley, $5.40;
graham, $5; whole wheat, quarters, $5.20.
BARLEY Feed and brewing. $24.50 per
ton.
HAY" Track prices: Timothy. Willamette
Valley, 18 19c per ton: Eastern. Oregon,
20&22c; alfalfa, new. $1314.
CORN Whole. $32; cracked. $33 per ton,
M1LLSTUFFS Bran, 20 per ton; mid-
dl in cs. $30 ; short $21 Q 22; rolled barley,
$23i26. .
OATS No. 1 white, $29fg30 per ton.
Dairy and Country Produce-.
BUTTER City creamery. extras, 33c;
fancy outside creamery. 31 33c per pound;
store, 23c; butter fat. o3c
EGGS Oregon candled, 2627c per
dozen.
CHEESE Full cream, twins. 17 c per
pound; Young America. 18c. '
POULTRY 'Hens. Uic; Springs, lSVsC.
ducks, 13e; geese, 101 11c ; turkeys, live, IS
ii 2c; dressed, 22 Va (& 23c; squabs, $3 per
dozen.
PORK Fancy. 12(g"13o per pound.
VEAL Fancy, 12(12c per pound.
Groceries, Dried Fruits, Etc.
DRIED FRUIT Apples, 10c per pound;
peaches, 7c; prunes, Italians. 4 5c; prunes,
French. 4 6c ; currants. lOc; apricots. 13c;
dates, 7c per pound; figs, fancy white, 6a;
fancy black, 7c; choice black, 5c
SALMON Columbia River. 1-pound tall.
$2 per dozen; 2-pound talis. $2.95: 1-pound-flats,
$2.10; Alaska pink, l-pound talis. 90c;
red, 1-pound tails, $1.45; sockeye. 1-pound
tails, $2.
COFFEE Mocha, 24 2Sc; Java, ordinary,
17 2uc ; Costa Rica, fancy, 18 20c ; good.
16 tig) 1 Sc. ordinary. 13 (Q 16c per pound.
NUTS Walnuts, 13c per pound; Brazil
nuts. 13 4i & 15c; filberts. 16c; almonds. 17o;
pecans, lac; cocoanuta, 90c$l per doien.
SALT Granulated. $15 per ton; hale
ground. 100s, $10.5O per ton; 60s. $11 per
ton.
BEANS Small white, 5c; large white.
6 c ; Lima, 5 o; pink. 7c red Mexicans,
7 He; bayou, 7 c
RICE No. 1 Japan, 4c; cheaper grades,
$3.60e4.55c; Southern head. 64; 7c
HONE Y Choice. $3. 25 $3. 50 per case ;
strained. 7c per pound.
SUGAR Dry granulated, fruit and berry.
$0.23; beet. $0.05: extra C $3.75; golden C
$5.63; yellow D, $3.65;' cubes .barrels),
$5.05; powdered. $0.50; Domino, J 10.40
$16. 90 per case. Terms on remittances with
in 15 days deduct c per pound, if later
than 15 and within 30 days, deduct 40
per pound. Maple sugar, 15ilSc per pound.
Vegetables and Fruits.
GREEN FRUITS Apples, new. 50c 6 $1.50
per box; apricots. 50c & $1.23 per box; plums,
one fa $1.25 per box; pears, $2.25 per box;
peaches, 40c $1.25 per box; grapes, $1.5V
a. 30.
BERRIES Blackberries, $1.40 1.50 per
box.
MELONS Watermelons, 73c ? $1.25 per
hupndred; cantaloupes, $1.50&3 per crate.
1KOP1CAL FRUITS Oranges. $4(4.30;
lemons, $7S; grapefruit, $3.53.50 per
box ; bananas, 5 fee per pound ; pineapples.
6c per pound.
VEGETABLES Artichokes. C073c per
dozen; beans, 35c per pound; cabbage. 24
per pound ; cauliflower, $1.50 per
doz. ; celery, SOc per dozen; corn, 4a (y) 75c per
dozen ; cucumbers, 50c per box; egg plant.
Is Y c per pound ; hothouse lettuce, 50c 4 $1
per box; garlic, S0lOc per pound; horaerad-
isn, iyc per pound; green onions, 15c per
dozen: peas, .5c; peppers. 10 12 Mi c per
pound ; radishes, 15 20c per dozen ; rhu
barb. 2c per pound; squash, 60c per crate;
tomatoes. $1.25 per box.
SACK VEGETABLES Carrots. $191.23;
beets, $1.50; parsnips, $1&L25; turnps. $L
ruiATOKS New, l &. lc per pound;
sweet potatoes, I5i'ri7 per pound.
uii.-s& w ana wana, z.5U per sack.
Provisions." .
HAMS 10 to 12. pounds, 22c: 12 to 14
pounds. 21 He; 14 to 10 pounds, 2lu; 18 to
u pounds, none; skinned. 22c; picnics, 13c;
cottage roll, 18
BACON Fancy, 30c; standard. 29 Vic:
choice. 2SHc; English. 23Vx25ViC
bMOKKU - MisiATa iieef tongues, 75c;
dried beef sets, 2ic; euLsides. 20c; lnsiaes.
3c ; knuckles, 22c.
DRY SALT CURED Regular short clears.
dry salt, ltifec; smoked, lbc; backs, light,
salt, ItSVtc; smoked, lic; backs, heavy, salt.
ltic; smoKed, 17 He; export be Hie, salt, 17c;
smoked. lS-jC
PICKLED GOODS Barrels, pigs feet.
$16; regular tripe, $10; honeycomb tripe.
$12; lunch tongues, $22; lambs' tongues, $40.
LAKD Tens; Kettle rendered, 16. c:
standard pure, I54c; choice, 14c; shorten
ing, llic
Oils.
LINSEED OIL Pure raw in barrels, $1.01;
kettle boiled, in barrels, $1.03; raw, in cases.
$1.00; kottle boiled, in cases, $1.06. Lots of
5U gallons, 1 cent less ter gallon.
TUliPK.N TINE In cased. &2c; in wood
barrels. 7UVc.
COAL Oil- Water white in drums. Iron
white in drums or iron barrels. 14c; union
kerosene in cases, ;-6s. z&c: oleum kero
sene in cases 2-os. 21c; Aurora kerosene
In cases, z-os. Sic
GASOLINE Union gasoline in bulk, 18e;
union gasoline in cases, 2-5s, 25c; union
motor spirit in bulk, 18c; union motor
spirit in cases, 2-5s. 25c; No. l engine dis
tillate in iron drums, sfec; No. l engine
distillate in cases 3t-5s, 15 c. V.. M. 4s
p. naphtha in iron drums or barrels. 15c;
V., M. & P. naphtha in cases. z-5s, 22c.
BENZINE Union benzine in iron drums
or barrels, 15c ; union benzine in cases,
-&s. 2-c; union stove distillate in iron
drums. 7c.
Hops, Wool. Hides, fcto.
HOPS HKo crop. s-i 12c; according to
qi:alti v ; olds, nominal ; ivlu contracts, 13 tg
13sc.
WOOL Eastern Oregon, 13 17c pound ;
Valley, 13 ISc per pound. '
MOHAIK Choice. 32&33c per pound.
CASCAKA BARK 40 per pound.
HIDES Salted hides. 77c per pound;
salted calf, 13c; salted kip. So; salted stags,
ic; green hides, lc less; dry hides. 16 H &
17c; dry calf. 17lStc; dry stags, 11Q12C
PELTS Dry. lOfec; salted. butchers
take-orf. $1.15 1.4u; Spring lambs. 25430,
GRAIN BAGS In carlots. Sc each.
Furs.
FURS Prices paid for prime No. 1 skins:
Mink. Northwest Canada and Alaska, $4
10; Colorado, Wyoming. Montana, Idaho and
California, $5fe 7.50; British Columbia and
Alaska Coast, $$4 10; Oregon. Washington.
Idaho and Montaua. $7. Lynx, Alaska and
British Columbia. $35; Pacific Coast, $2.
Raccoon, fll.aO. Skunk. Canada, $2.50;
Pacific Coast. $l-y2. Wolf and coyote. Can
ada. $3'i? 0 ; Idaho, Montana. Wyoming. Ne
vada, $1.50V3. Beaver. Oregon. Washing
ton. Canada. Alaska, $5,503 7 ; Idaho. Mon
tana, $ lO : U ta.n. W y omln g, $ 6. 50 & 7 ; e u bs,
32&2.50. Otter, Canada, Alaska, $12.5014;
Oregon, Washington, Alaska. Canada, Brit
ish Columbia, $3&4.50; pacific Coast, $1.75
2.50. Gray fox. Pacific Coast. $1.50&2.
Bear, black and brown. Alaska, Canada. $18
tp20; cubs. 11215; Pacific Coast. S10M5;
cubs. $12 IS; Pacific Coast. $10 15; cubs.
$5w7; grizzly, perfect, $25s35. Badger. $2.
Muskrat, Canada, Alaska, 30c; Pacific
Coast, 30 ttcc Fisher, British Columbia,
Alaska. $1520; Pacific Coast, y15.
Wolverine. $6ds. Silver fox, $300&-50u.
fox. 40c. Ermine. 60c. Mountain lion, $5
Cross fox. $10j:l5. Sea otter. $2O0(450l
Bluw fox. $SfelU. White fox,512&20. Swift
lO. Ringtail cat, 251? 75c Civet cat. 10&
SOc House cat, 5ti 25f
STOCKPRIGESJUMP
Market Advances by Leaps
and Bounds.
DEMAND FROM ALLSOURCES
Liquidation of Tuesday Local in
Character Large Outstanding
Short Interest London Buy-
ing on a Large- Scale.
NEW YORK, July 27. The action of the
stock market underwent a violent reversal
with prices advancing by leaps and bounds
wnere, yesterday, they were breaking with
out sign of resistance. Speculative senti
ment underwent a corresponding transfor
mation, but with the usual confusion be
tween cause and effect.
The extensive liquidation accomplished
yesterday afforded great relief in itself and
to this was added, according to current
rumor, some important private settlements
by which embarrassed accounts were taken
over and the necessity thus avoided of
continuing the sacrifice of securities in a'
market in which the demand had become
well nigh paralyzed.
The brighter feeling due to these re
ports was enhanced by a clearer perception
of the local nature of the acote trouble
which was forcing liquidation. In place of
the supposed widespread sources of the
selling based on general discouragement with
the situation of trade - and money markets,
there emerged the conviction that a con
fined area represented the limits of the
trouble. A renewed slump In Rock Island
preferred to 54 early in the day was ac
cepted as one index of the sburce of the
difficulty.
Many rumors became current of the shift
ing of large, newly-acquired holdings of
various railroad stocks, reaching out from
the Eastern anthracite and trunk line field
into Western and Southwestern connections
in the pursuance of an ambitious project of
extension and merging. In addition to this
source of weakness it was surmised that
over-extension in the high capitalization of
various new copper properties, small Indi
vidually, was in process of correction.
So severe a decline as has been witnessed
in the last ten days is accompanied in
evitably by a large expansion of the short
interest In a market. Usually nothing
checks this short selling but an actual turn
in the price movement itself. With that
affected, the demand becomes urgent. Such
was the case today, the demand from un
covered shorts making up & substantial part
of the large demand and the upbidding of
prices.
Testimony was offered by some of the
commission-houses of a material growth of
investment demand, as well, attracted by
the low level to which prices had fallen
and the inviting rate of return afforded In
consequence by dividend payments.
London Joined actively in the day's buy
ing on a sufficient scale to affect the for
eign exchange market. Subsidence of the
forced liquidation relieved that market of
apprehensions In connection with the stock
market settlement in progress.
An example of the reversal of specula
tive form was found in the preference
shown for the item of earnings in the
I'nited States Steel quarterly report over
that of the unfilled tonnage on hand in the
selection for a topic for discussion. The
increase In the earnings over anticipations
was pointed out as matter for encourage
ment, while little attention was paid to the
excess over the estimate of the decrease in
unfilled orders on hand.
Expressions of confidence emanating from
the. Steel directors' meeting and the opin
ion on the quarterly report in the Iron
Age served to stimulate a more hopeful feel
ing. There was a repetition also of the
report of agreement to reduce production
by the principal copper producers and an
advance In the price of that metal.
The wild advance in the cotton market
failed to destroy the increased interest
manifest in the stock market. The haz
ardous state of a part of the corn crop
also lost its influence for the time being.
Bonds were stronger. Total sales, par
value. $9S0,O00. United States bonds were
unchanged on call.
CLOSING STOCK QUOTATIONS.
Closing
Sales.
AllLs Chalmers pf
A mal Copper 4,2C0
Am Agricultural Sen
High. Low. Bid.
'tiki 'tilij 59
38 JioVa 3o4
27 L'3 M, 2
-A 7Vi 7
43 41l 42
04 "i 53 64
23 ij. 22 i 21'54
ISri 17 V IS
11 10 Vs lWi
33S .3H 33
.rVi 63 65
95! Ull'.i 69
40 3D 39
117 115 116
131 12Vi 13(
82 i2 91
24 '
37 Vj 34 36i
3'.a 4
BSVj, K 7
KB 103 l:5i
1(7 1001 K6Ti
73 72 73
124 17'i 181
2!) 27 28 Mi
100 fi?4 10054
"!" 6S34
6 6?i 6S:ig
25
2'4 lVa 19'4
41Vj . 40Lj 4lt,
139 139 139 V
119 1164 HSv'i
70 7 75
2514 24 24 V4
47S, 47", 51
12i 124 1254
13 1i 13
153',4 15014 152;
25 24Vj 254
5 fi4 64
26 H 2814 26
21 21 21 U,
36 35 35 i
27 2U 26'i
13ft 135 137
12254 H9S 121tj
51 4WH 5
127.j 124i 121 V,
l."74 15 15V4
45 42'i 44
8i 87
14'. 14 14
9 9
391 35)
1"T 13 '.4 15 '4
23 V, 24 25
50 &S14 591t
9R'4 ftSV, 95;
1K3S 1314s 1S3V4
24 'i 24l4 25
11714 ii8v; 11714
29 2SVi 29lJ
5S 57 5S
49V1 43 47
1(12 101 14 101
4R14 47'4 47'4
24 23 '4 2314
10S"A lfi-s 10S 14
41 V4 4rt 41
93 no 924
6.Mi R314, 65 '
1184 1131- lisv;
22"), 22 2214
12614 124 1254
1041, 103 1041,4
IM DO 8fl
1414 14V, 14
2S14 28 V 28 14
I581.V 1.V.14 J.V.
2SI4 2S 2SV4
134 Vi 132 134-4
29i4 2S 2814
87 84- 8J4
26Vi 2314 25
82 54 5Si
.TS4 3814 37 "
21 194 21 i
5 52 M 14
5314 51 5314
1074 105 llifiT,
19 Kll.4
30 47 5
21 21 2014
2t 2214 234
21 20 1914
42
157 153 158
89 Ui SS'i 89
6-14 844 fi
30i , 28 30
5 63 8514,
II414 1124 1134
43 40 42i4
57 58 584
14Vi 13 14
314 294 31
41 4014 41
54 S3 53
58 5714 58
5 4 414
Am Beet buga .. ion
American Can
Am Car & Fdy ..
Am Cotton Oil . .
Am Hd & Lt pf..
Am Ice Securi
Am Linseed Oil. .
Am Locomotive . .
1.70O
400
2.10O
1.000
4.50O
Am Smelt & Ret. 19.700
do preferred ... 0O
Am Steel Fdy ... 1,400
Am Sugar Ref ... 1,000
Am Tel & Tel .... 5,7oO
Am Tobacco pf 200
Am Woolen -
Anaconda Mln Jb.
Atchison
do preferred
Atl Coast Line ..
Bait & Ohio
Bethlehem Steel .
Brouk Rap Tran.
Canadian Pscific .
Central Leather .
do preferred , .
Central of N J....
Ches & Ohio . . .
Chicago & Alton .
Chicago t& Alton.
500
33.4t4
SOU
3.0U0
1,500
loo
, 12.30
3.2
, . 4.4UO
800
. 15700
. 15,700
Chicago Gt West.
do preferred . . .
Chicago & N W ...
C, M & St Paul ..
1.O0O
500
GOO
16,200
l'KJ
700
loo
8.4(rt
1.700
1.4O0
3.700
1.2
UK
7.4O0
l..Vi
1.200
1 3
10.S0O
1,800
70
C, C, C & St L ...
Colo Fuel & Iron.
Colo & Southern ..
Consolidated Gas..
Corn Products . . .
Del & Hudson ..
D & R Grande . -.
do preferred . . .
Distillers Securi . .
Erie
do 1st preferred.
do 2d preferred.
General Electric . .
Gt Northern pf ...
Gt Northern Ore ..
Illinois Central
Interbnrou-Rb Met..
do preferred
Inter H-arvester . .
Inter-Marine pf
Int Paper
6,iO
1,000
2 AO
200
Int Pump : 4X
Iowa Central 7H
K C Southern .... 2,500
do preferred ... 700
I-aclede Gas S.00O
Iuisville &. Nash
Mlr.n & St Louis.
M. St P & S S M.
200
1.3i (0
Mo. Kan A: Texas 3,"t
do preferred ... 4
Miswurl Pacific .. 32.1V
National Biscuit .. 20
National Lead . . . l.JiOO
Mex Nat Ry 2d pf 3n
N Y Central ......
N Y. Ont & Went.
Norfolk & West.
North American . .
Northern Pacific ..
Pacific Mail
Pennsylvania
People's Gas
P. C C & St L...
Plttftbnrg Coal
J.7"0
1.8(V
4tfM
0
10.4r,t
TOO
l.SOO
1 0OO
1.100
.too
3O0
3M
Preetaed1 Steel Car.
Pullman Pal Car."
Ry Steel Spring.
Readinc
Republic Stet-1
do preferred
Rack Inland Co
.155.1(Wt
. 1.7O0
50O
3.7
do preferred ... 13.HM
St T, & S V 2d Pf Koo
St L Southwestern 7oO
do- preferred L . fV0
Skisp-ShefliM l.lOft
Southern Pacific .. 37.(V
Southern Railway. 2.90
do preferred -. . 4-v
Tenn Copper . 2
Texas & Pacific. . 1.00A
Tol. St L A West. 5o0
d- preferred
Union Pacific
do preferred
V S Realty ...
IT S Rubber ...
TJ S Steel
113. o"
rrft
.--
1.nv
24S.3CO
do preferred - ...
Utah Copper
Va-C'm Chemical.
"Wabash
do preferred
Western Md
Westlnghouse Eiec
Western Union ...
Wheel & L Erie..
4.1oo
2..VK
2.30O
3.1f
1.4V
arm
2l0
Total
lea for the day. 953.400 shares.
BONDS.
NEW YORK. July 27-
"loslns quotations:
XT. P. rof. 2s res.inoinjx. T--C. ?n 3hB ST
do coupon . . .1H.'Xo. Pacific ."is... e;u,
U. P- T.s reir. . . . .TOl No. pacific 4a... B!
do coupon . . . . 11 l"nion Pacific 4s.!tfrt
U. P- new 4s rcf.lUV Kfa. Central 4s.tnR
do coupon . . .1 14 Japanese 4s ... syB
D. & R. G. 4. P2SBi
Money, KxenanK-e. Eic
NEW YORK. July 27. Money on call,
asy. per cent: ruling rate, 1 jer
cent ; closing bid, 1 3t per cent ; offered at
2 per cent.
Time loans, dull and firm: 60 days. 349
per cent: 90 days,34 per cent; six
months. 5 5 per cent.
Prime mercantile paper closed at 5H1
per cent.
Sterling exchange weaker, with actual
business in bankers' bills at $4. S330 & 4. S300
for uday bills and at $4.r4o for demands
Commercial bills, $4.S2 til 4.S3U
Bar silver, 53 rC.
- Mexican dollars. 44c ,
Government bonds, steady; railroad bonds,
strong.
LONDON. July 27. Bar silver Steady:
24 13-10i per ounce.
Money 1 14 per cent.
The rate of discount in the open market
for short bills is 14 pe" cept.
The rate of discount in tne open market
for three months" bills Is 2H per cent.
Consols for money. SI 11-10; do for ac
count, 81 11-16.
SAN FRANCISCO, July 27.. Sterling on
London. 60 days. $4.83 ; sterling on Lon
don, sight. $4.85.
Silver bars 53 c.
Mexican dolalrs 44c.
Drafts Sight, .05; telegraph, .OS.
CHICAGO. July 27. Exchange on New
York, 13 premium.
Daily Treasury Statement.
WASHINGTON. July 27. The Condition
of the Treasury at the beginning of business
today was as follows;
Trust funds
Gold coin $8f9,4OS,069
Silver dollars 489.135.000
Silver dollars of 1S9 3,6:iS.oOO
Silver certificates outstanding 489,155,000
General fund
Standard silver dollars in gen-
eral fund 3,231,807
Current liaoilities 103,120.200
Working balance In Treasury of
fices - 28,420,862
In banks to credit of Treasurer
of the United States 39.4S1.733
Subsidiary silver coin . - . 20. 242.55ft
Minor coin 1,159,721
Total balance in general fund... 91,242,504
Activity in Lehigh "Valley.
PHILADELPHIA, July 27. There was
great activity in Lehigh Valley Railroad
stock on the Philadelphia Exchange today,
more than 44.000 shares c.f the stock and
33,000 of Lehigh Valley warrant changing
bands. The selling orders came almost en
tirely from New York and the buying was
reported to be by some of the best Phila
delphia houses. The stock opened at
sold as high as 67i as low as G2& and
closed at C6.
BIG ALFALFA ORDERS
TEX THOUSAND TOXS BOUGHT
IX CALIFORNIA.
For Delivery on Piiget Sound This
. Fall Timothy Sells at High
Price at Ellensburg.
SEATTLE. Wash., Julv 27. (Special.)
Ten thousand tons of alfalfa' have been pur
chased in California -during the last few
days for delivery on PuKet Sound this Fall.
High prices here have been responsible for
the placing of orders in the south. An et
fort is also to be made to introduce grain
hay here, -which can be purchased at very
low prices in California. eighteen aonars
was paid for new timothy at Kllensburg
today, the highest price ever paid for tim
othy at this time of the year. Kansas
prairie hay is still arriving for trans-snip-ment
to the Philippines and 2O00 tons will
be shinned on the transport Iix.
Wheat was no higher here today, but the
market displayed considerable life. Much
interest was shown In the reports from the
Big Bend district, where threshing returns
are showing yields of 12 busneis. per acre,
against estimates of only eight.
The first carload of Eastern Washington
watermelons reached the city today. Seven
cars arrived from California. The peach
market was softer again, due largely to the
increased shipments that followed Monday
sliffer market. The late canning varieties
of peaches are now ripening in Eastern
Washington. Cants sold at $3.50. Trade
dragged on account of the fact that prac
tically every grocery store in the city was
closed. In observance or tne grocers picnic.
A straight carload of California grapes ar
rived and were placed on the market at
$1.50 a box. Jobbers reported a good de
mand for eggs at yesterday's .prices. Poul
try receipts were much larger. The supply
of live poultry exceeded the demand, but
surplus stock was dressed. Veal eold well
at 13 to 14 cents.
6AN FBAJSCISCO QUOTATIONS.
Produce Price Current In the Bay City
Markets.
SAX FRAXCI5CO, July 27. The follow
ing prices were current in the produce mar
ket today:
Butter Fancy creamery, 31c; creamery-
seconds, 20c; fancy dairy. 28c.
Cheese New. 13V414V4c; Young America,
1516V4c.
Eggs Store, SOc; fancy ranch, 32c.
Poultry Roosters, old. S55.0; roosters.
young. f7tiu; nroucrs, aman. i.koj;
broilers, large. $3.:53.60; fryers. $56;
hens. S510; ducks, old. $4.50j)5; ducks.
young, JBi&'S.
Vegetables Cucumbers, 2550c: garlic,
2V43V4c: green peas. 2Hi3Vic; string beans.
1 3c; asparagus, nominal; tomatoes, 3oc
65c; eggplant, 50 75c.
Hops California, 1015c.
Millstuffs Bran. $2324 middlings, $23
Hay Wheat, $914; wheat and oats, $
012; alfalfa, $710: stock. $37; straw.
Fruit Apples, choice. 65c?$1.25; apples.
common, 3550c: bananas, 7.c'$3; Mexi
can limes, - $5.50Si'0; California lemons,
choice. r,..V; California lemons, common
$2.50; oranges, navels, nominal; pineapples,
$23.
Receipts Flour, 2753 quarter sacks
wheat, 13 centals; barley. 4916 centals; oats,
167S centals; beans. 3215 sacks; potatoes,
5383 sacks; hay, 734 tons; wool, 13s bales
hides, 337.
European Grain Market.
LONDON. July 27. Cargoes quiet, buyers
reserved, walla walla lor snipmem, ed iow
er at 37s 6d.
English country markets steady; French
country market, steaay.
LIVERPOOL, July 27. Wheat July closed
In 44d; October. 7s 5d; lecember. 7a 6d,
V earner unsettiea.
wool at St. Ixiuik.
ST. LOUIS, July 27. Wool Higher: terri
tory and Western mediums, lS'Uac; fine
mediums, idqiic; line, j.tgxc
liry Produce in the East.
CHICAGO. July 27. Butter isteady; cream
erles. ijrd-tc: uairies. z.i'aztc.
Kbbs Receipts. 14, W0; steaay at mark,
case included, lu14c; firsts, 15c; prime firets,
17c.
Cheese EJasy; daisies. 15'4 'n 15 lie; twins,
1415c; Youns Americas, loV15li.c; long
horns, 15c.
NEW YORK. .Inly 27. Butter Firm;
creamery specials. 'Jj:c: extras, 28c.
Cheese Steady, unchanged.
Eggs Quiet, unchanged.
Minneapolis Grain Market.
MINNEAPOLIS. July 27. Wheat July
closed September. $1.13; December,
tl.UVj.
Cash: No. 1 hard. ?1.2B; No. 1 Northern,
U.24 1.23a, : No. 2 Northern, j51.22ral.23 Ji ;
No. 3. 1.2ii1.21.
Flax Closed at $2.43.
Corn No. 3 yellow. 2C34c.
Oats No. 3 white. 42434c
Rye No. 2, 72-S74C.
Grain at San Francisco.
SAN FRANCISCO, July 27. Wheat Firm.
Barley Steady.
Spot quotations: Wheat Shipping $1.65
gUH Barley Feed. $1.0o hi & l.OS ; brew
ing. 1.101.12Vi. Oats Red. 1.351.45:
white. $1.80: black, nominal.
Call, board sales: Wheat No trading.
Barley December. $1.14 bid. $1.14 asked.
Corn Large yellow. 1.01.62.
Wheat at Tacoma.
TACOMA. July 27. Wheat Milling, blue
stem. ti7trc: club, 8SiS0c. The first car of
new wheat arrived from Walla Walla today.
It was choice turkey red weighing ) pounds
to the bushel. Receipts, 8 cars wheat.
Duluth Max Market.
Dl'Ll'TH. July 27. Flax on track. $2.50; to
arrive. $2.4-t: July. $-J.50 R-ted: September,
$2.43; October and November, $2.31; Decem
ber. $2.25 asked.
CASH WHEAT LOWER
'rices at Chicago Show a
Sharp Decline.
OPTIONS ARE ALSO DOWN
Southwestern Hanks Refuse Loans
That Might Make Possible the
Storing of Wheat Cana
dian Drouth Damage.
CHICAGO. July 27. At one time Sep
tember. December and May wheat were lc
below yesterday's close, while the July op
tion, when weakest, was off only hall as
nuch. Cash wheat, however, dropped to
lftle under July for No. "2 red and for
hard, the chances not being good for further
fresh receipts to be made available for the
current delivery. First reports from the
harvest In Western Canada seemed to in
die? te that the stories of drouth damage in
that region were overdrawn. lt was news
of this character that gave the initial bear
ish impulse to the market today. Later
m the session information was circuiatea
that some banks in the Southwest were re
fusing loans that might make possible the
storage of wheat. Such action would ex-
nlain the Dressure of the cash grain tot
sale. September fluctuated between $1.034
and $1.04. closing easy, Sc to c
down, at $1.04 1 r l.$4 V .
Demand for corn was much restricted un
til prices had undergone quite a dip and
there were dispatches telling of more dam
age by hot winds. Variations In the Sep
tember price had as high and low limits
04o and 6oc, with the close easy at
(Jo i c. a net decline of c. The cash
market was firm. No. 2 yellow closed at 6Sc.
Heavy heciclne and some short selling
made oats weak. September ranged from
s $f 3J c to 39 c and closed S c
Off. at 383SHc.
A light run of hogs gave- a generally nrm
tone to provisions. Pork finished 12 c up
to uc lower. Lard was at 7410c advance
and ribs from 2 Vi to 7 Vt c.
The leading futures ranged as follows:
WHEAT.
Ooen. H igh. Low. Close.
July $1.0 7 $1.08 $1.Q7 $1-07
Sept 1.04 1.04 1.0 1.044
Dec l.(M -.06 1.Ub J..Ut-?B
May 1.10 1.10? 1.09 1.104
CORN.
July 64 Vi , .65 M. .64 .65
Kept .66 li .6b lfA .b -eo
Dec 64k .644 .63 .64
May 66 -66 -64 -65
- OATS.
July 40 U .404 .40 .40
Sept .39 .39 .38 .38
Dec ,4U( .JVrx
May 43 .43 Al .4-'
MESS PORK.
Sept 22.25 22.30 12.12 22.17
Jan 13.5 18.40 18.2a
LARD.
Sept 11.85 11.95 11.82 11.90
Oct. 11.77 11.82 11.72 11.77
Nov 11.50 11.52 11.45 11.4 1
SHORT RIBS.
Sept 11.67 11.72 11.65 11.67
Oct 11.2.-V 11.T5 11.17 11.20
Jan 9.40 .42 9.33 9.40
Cash quotations were as follows:
Flour Firm, t
Rye No. 2. 77 (g 73c.
Grain statistics:
Total clearances of wheat and flour were
equal to 61.000 bushels. Primary receipts
were 1,357,000 bushels, compared witn j.,-
669,000 bushels the corresponding day a
year ago. Estimated receipts tor tomorrow:
Wheat. 399 cars; corn. 161 cars; oats, nt
cars; hogs, 16,000 head.
Receipts. Shipments.
Flour, barrels 289. 119 19,728
Wheat, bushels 478,200 94.S00
Corn, bushels 213.750 3S7.10O
Oats, bushels 448.200 152,600
Rve. bushels 7.000
Barlev. bushels 54.000 13.300
HIGH GRADE
MUNICIPAL AND
IMPROVEMENT
"We have several good
issues on hand. Buy di
rect from the contractor
and save broker's com
mission. -
WARREN
CONSTRUCTION CO.
317 Beck Bldg.,.
Portland, Oron.
Phones: Main 9357, A 4613.
TRAVELERS' GUIDE.
HONOLULU
$110
And Back (First -Class)
The splendid, twin screw steamer SIERRA
fl o.ooo tons displacement) sails Julv 30.
Aug. 0, Sept. 10 and every 21 days. Hound
trip ticKets kooq lor iour monins. nanomiu,
the most attractive spot on entire world tour,
.BOOK. NOW and secure best berths.
LINE TO TAHITI AND NEW ZEALAND.
E. 8. Mariposa and Union Line, sailings
Aug. 6. Sept. 11, etc. Tahiti and back (24
liugtoni. $24.I5 first class. K T six
months. Write or wire for reservations.
UC BAN IC S. S. CO.,
67 Market Stregt. San Franciico.
COOS BAY LINE
-DAT SERVICE.
Steamer Breakwater leaves Portland 9 A
M.. July 23. 28. Aug- 2, 7. 12. 17. 22. 27
anil every live days, from Aina worth lxclc.
for North tend, Marshfleld and Coos Bay
points. Freight received until 5 P. M.,
dally. Bassenger fare, first-claa. $10; sec
ond -class, $ . including Dertn ana meats
Inouire Citv Ticket Office. Third and Wash
ington streets, or Aina worth Dock. Main 'JGH.
SanFraccisco and Los Angeles
DIRECT
North Pacific S. S. Co.'s S. S. Roanoke
and S. S. Elder eail every Wednesday
alternately at 6 P. M. Ticket office
132 Third t-. near Alder.
iURTIN J. H1GLEY, Paueiger Actat,
v. 11. BLtaMn, Kremi AgenL
Ckoaea M. 1314, A 1314.
l.umbermens
National Bank
CORNER FIFTH AND STARK STREETS
PORTLAND, OREGON
Capital $500,000
OFFICERS. - DIRECTORS. " -.
G. K. Wentworth President K tw"h
( has. S. Kusaell
Johm A. Keatlna-. Vice-President P. S. Brumby
McPbern V,-Pre..det V'''
5tory - ...Cashier j. K. Wheler
F". A. Freeman '.Asalatant Chirr V.ti?a X. iTl'" '
Graham Dukeh.rt. ...... .Aaatotant Caaulet HJT gT,' r'at
Ladd $ Tilton Bank
Established 1859. g'g:
OLDEST BANK ON THE PACIFIC COAST ' J
Capital $1,000,000
SURPLUS AND PROFITS $660,000
5i,V"i.' p'esIaent. R-S. Howard. Jr., Ass-t Cashier.
fc ff1""' 'ce-Fresldent. J-W. Ladd. Assistant Cashier.
W. H. Dunckiey, Cashier. Walter St. Cook, Ass't Cashier.
irst National Bank
Capital $1,500,000
Surplus 750,000
Oldest National Bank West of ths
Rocky Mountains
$125,000
Railway Exchange Building Company
First Mortgage 7 Gold Bonds
Dated August 1, 1910. ;
"
Due Serially August 1, 1911, to August 1, 1917.
Coupon Bonds in denomination of $500.
Principal and semi-annual interest, payable at the office of the
Security Savings & Trust Company, Portland, Oregon,
Trustee.
This bond issue is secured by a deed of trust to the Security
Savings & Trust Company, Portland, as Trustee, covering tho
Railway Exchange Building and leasehold, which provides for
redemption of the bonds in installments, beginning at the end of
the first year, at a sufficient premium to make the same yield
7Vi per cent per annum for the various maturities.
The property consists of a mpdern six-story, class "A" rein-"
forced concrete office building, having 100 feet frontage on
Third, 200 feet frontage on Stark, and 50 feet frontage on
Fourth street, iu .the heart of the financial and business section
of Portland. The Railway Exchange Building, costing $225,000,
is completely and substantially equipped and finished through
out, and ranks with the best office structures on the Coast. It
is already largely rented to a very desirable class of business
concerns, on a basis which insures a steady and profitable
income.
In view of the very large margin of security over and above
the bond issue, and the location and earning capacity of the
property, we recommend these bonds very strongly as an excep
tionally choice and profitable investment.
Having already reserved a substantial amount of the bonds,
we offer the unsold balance at par and interest, yielding 7y2 per
cent until maturity.
Copy of the mortgage, statement of earnings and other
tailed information will be furnished upon application at our
office.
MORRIS BROTHERS
Chamber of Commerce.
TRAVELERS' GUIDE.
$(gjg ALASKA
AND BACK
. IncludlnK Berth and Meals
SUMMER EXCURSIONS
via Smooth "Inside Passage'
Twelve deliRhtful excursions from Seattle to
ALASKA and bark cheaper than
staying at home.
Don't waif until tlramer arc mold oaf
Writm omch for fietail and rmomrvmtiona
Pacific Coast Steamship Co.
249 Waahlnfeton St. . PORTLAND
Canadian Pacific Empress line of steamers,
sailing; -weekly between Montreal and Liver
pool. Wireless on all steamers. Ask any
ticket stent or write IT. K. . Johns Lh. a. A,
142 Third St.. Portland
TBAVEUjlf GVIOE.
COLUMBIA RIVER SCENERY
Fast Excursion .steamer
CHAS. K- SPENCER
daulv txxcept Wednesday. M a. SC.
(or Hood ftiver and. " ay laudlnc and re
turn leave Hood fUver. 2:40 P. Mi arrive
irorU&ad b p. M.
6LNUA EXCURSIONS
.Leaves tf A- M. ; return;. 5:30 P. M,
First-clfcos Meats Served..
Fare, One Dollar Hound Trig.
Up town Office. 0U ita St.
Pbuoei 'Marshall 1T9, a 12S3.
iandlns and Off.?e, Foot Wahlntea St.
Phones Main 8619, A. 2465.
Lowest Kates to Picnic Parties
X. W. SPENCER. OWNER.
BAN FRANCISCO A POR1UND SS. CO.
New service to Ixs Angeles, via San Fran
cisco, every five days.
From A ins worth Dock, Portland, P A. M.
SS. Beaver. Aoc 1; Bear. ; Rom Citv. 11.
From Ban Francisco. North lou nd. 1 i M .
88. Bear. July 30; Rum City, 4; Braver, V-
From San Pedro, Northbound. iS. Itos
City. Ausust S; Beaver, 7 ; Bear. 12.
K. ti. mith. C. T. A.. 142 Thlr St.
J. W- Raanom, Arent, Alnnwoth loelt.
Phones Main 02. 26S. A 1403. .