THE MORXIXG OREGOXIAN, TUESDAY, SEPTEMBER 15, 1914.
RUSH TO SELL GRAIN
All Cereal Prices Crash in Chi
cago Market.
EXCITEMENT AT START
Wlieat CIo-cb With Extreme Loss of
Over Eight Cents Traders Be
lieve War May Soon Be End
ed and I'nload Heavily.
CHICAGO. Sept. 14. Grain prices crashed
downward today in a whirl of selling, due
to belief that the war might toon come to
an end. The close was wild, with wheat
6Uc to Shic lower than Saturday night,
corn off 2Vc to 2'ic and oats showing a
setback of ic to ic net. In provisions
the outcome, varied lrom 25c decline to an
Qual advance.
Excited liquidating sales by holders or
wheat began at the very outset of trading,
and before the session was over had as
sumed tremendous proportions. Export busi
ness on the decline gave the wheat market
a slight temporary rebound at one time, but
the foreign demand seemed ;o meager in
proportion to the lowering of values that
the effect was ultimately to Intensify the
widespread desire to get rid of wheat In a
hurry. Immense receipts from the Spring
crop In the Northwest added to the woes of
""r'orn'feU with wheat, but the descent was
raided by the fact that the visible supply
failed to Increase as much as had been
1 Joked for. Besides, .country offerings
proved relatively small. ,
Oats were under as severe selling P33""
as wheat a good share of the time. B1s
"rchisfng on the part of shippers, how
ever helped somewhut to steady prices.
Provision dealers, who were most con
spicuous last week on the selling side,
turned active buyers today. The "e?t
though was largely offset owing to the
weakness of prices for hogs and "in.
The leading futures ranged as follows.
WHEAT.
Open. High. Low. Close.
Sent S1.0S 1.1 fl.03i $1.03
Dec " . 109 1.10 ii l.u-tV. IM
S.y :::::: tS i-S EE
CORK.
g ;:e SI 8 :Sa fit
OATS.
---- 47 U .47 hi -44 .44
Sec " ":: :o :o m
Say ...... -5S U
MESS PORK.
ggt ;:::: &S
jin. : : . : . '.ao'.ii m -Qli
LAR' 9 07
Jan ...... .82?J 10.00 M.17Vi 0-77 Vi
SHORT RIBS.
Ken, 11.60
Set? :::::: 11:3-. .. 11.2s, ij-:
Jan. i lu.BT 10.75 10.07 V, lO.o.V,
Cash prices were as followa:
Wheat No, 1 red. 1.03ia 1 08 Vi ; No .
hurd il.esa I.U7i ; No. 1 Northern, 11.11.
Ton' S 2 yellow. 77Vi78c; No. 3 yel
low. TTiiTTKc
Rye, No. i. !0 6 02c.
Barley. 03i74c.
Timothy, 4te.
Clover, nominal.
San Francisco Grain Market.
SAN FRANCISCO, Sent. 14. Spot quota
tion's: Walla Walla. l.foI.72 Vt i red Rus
sian 11.71 "4; Turkey red, 1.S0; bluestem.
U.SU 1.83 ; feed barley, il.13; white oats,
$1 OOtHOG; bran. S0; middlings. XJlB3-i
shorts. $301.
Call board: Wheat steady. No trading.
Barley easy; December, $1.10; May. Sl.iiSls
bid. J l.-fi . asked.
Sterling in London, demand, J4.98V4: cable,
4. US) Vi . .
I'uget Sound Wheat Markets.
SEATTLE. Sept. 14. Wheat. October and
November delivery quotations: Bluestem.
(1 03- fortyfold. l)2c; club. OUc; Fife. Sue; red
Russian. SSc; Turkey red. 98c
yesterday s car receipts Wheat 31. corn
4. oats 15, barley 0. hay 10. flour 14. rye 1.
TACOMA. Sept. 14. Wheat Bluestem.
1.0S: fortyfold. U7c; club, yic; Fife, 9jc.
Car receipts Wheat 73, oats 4. hay B
.Minneapolis Grain Market
European Grain Markets.
LIVERPOOL. Sept. 14. Corn opened Vd
10 Wheal Spot quiet; No. 1 Manitoba. 9s
lt.d; No. 2. 9s sd; futures weak, October
es 3d, December os 7V-jd.
EXI'OBTS OF COTTON ALMOST CEASE
Kffei-t of the European War on the Ameri
can lndu.to -
WASHINGTON. Sept. 14. The extent of
the effect of the European war on the
American cotton Industry was disclosed lo
de v in tile Census Bureaus August cotton
consumption report, showing lhal during
August olliy 21.210 bales of cotton were ex
ported, while during August last year 23i,
172 bales went abroad.
Great Britain took only 0370 bales this
August, while last August she took 77.3iS;
Germany took only 52 bales, against 72,923
a year ago; France took only five bales,
against 52.1.33 a year ago; Italy took 1340.
agalnsl 13.5US a year ago, and all other
countries look 13.237, against 40,255 a year
ago. .
The supply of cotton during the year of
1914, which ended August 31, was more than
IU.uuiMIUO bales. The exports of the year
amounted to S. 914,548 bales; the domestic
consumption of 5.577, MM bales and the
quantity on hand" Aiigust 31 wma about L
321. Ml bales.
An extraordlnaiy feature of the report
was the fact that more co-ton was imported
during August than wasP exported by the
United States, which last year supplied al
most 61 per cent of the world's cotton.
NEW YORK, Sept. 14. While there was
no further liquidation of the old stradule
Interest through the special committee in
Ihe New York cotton market today, the
talk around the floor was more cheerful
than for some time past. This seemed the
result of the continued reports of a steadier
spot situation In the South and rumors that
a syndicate had been formed to lake over
the December interest here and undertake
the liquidation of the straddle Interest in a
block. No official statement was issued In
this connection, but It was reported that
local houses having open contracts in De
cember had been approached with a propo
sition that this syndicate take over the
contracts on the basis of 9 cents here. Such
an operation, it was believed, would clear
the way for an early resumption of business
and it was also rumored that the committee
which has been working up new by-laws to
make the New York contract conform with
the cotton futures law had practically com
pleted its work;
Coffee and Sugar.
NEW YORK, Sept. 14. Rather a steadier
tone was reported In the cost and freight
market for Brazilian coffee here today.
Considerable coffee is said to have been
purchased frcm Brarll during the past few
days and Santos 4s were reported sold In
the cost and freight market today at an
advance of fcc to SSc. The local apot mar.
ket showed no Improvement, however, aa
prices have been held far above parity with
Brazil, and with buyers now holding off in
the hope of a readjustment, prices were
more or leee nominal at 6Vi for Rio 7s and
like for Santos 4s. There are now afloat
for the -United States 446.000 bags of eof
.... ....I.., niui !H.r vear. and w arehouse
deliveries have shown a considerable falling
off during the past week.
Raw sugar firm. Molasses. 5.02c; cen
trifugal, .27c. Refined steady: cut loaf.
6.13c; crushed, S.05; mould "A," i.iOc;
, -ut.es. 7. SO: XXXX powdered. T.40c :
powdered, 7.35c. fine granulated, 7.25c:
diamond "A." 4. 25c; confectioners' "A,
7.15c; No. U 7 05c.
Dried Fruit at New York.
NEW YORK. Sept. 14. Evaporated apples
quiet: xanci, luiivui; ciwite. " 73 -
prime. SVsc.
P.'unes firm; California, llVic;
Oregon. 10012c.
Peaches quiet; choice. 6V4SOc; extra
choice. K07Vec: fancy, TVtftSc.
Belgium to Deny German Calumnies.
ANTWERP. Sept 14. The Belgian
government has appointed a committee
headed by M. QoWtt, Minister of tSate,
to "refute the German calumnies that
the Belgian population is responsible
for the aggressions and atrocities com
mitted by German troops."
STATEMENT 0E CONDITION.
LUMBERMENS NATIONAL BANK
OF PORTLAND.
At the Close of Business September 12, 1914.
RESOURCES.
Loans and Discounts ...$3,750,938.62
U. S. Bonds to Secure Circulation 250,000.00
U. S. Bonds to Secure Government Deposits 100,000.00
Municipal Bonds and Premiums $972,848,31
Other Bonds 61,001.91-
Furniture and Fixtures
Due from U. S. Treasury
Cash on Hand and in Banks
1,033,850.22
55,100.00
12,500.00
1,493,496.87
Total
.$6,695,885.71
LIABILITIES.
Capital .' $1,000,000.00
Surplus and Undivided Profits 233,54S.8a
Circulation 250,000.00
Dividends Unpaid .50
Deposits .... 5,212,329.36
Total ....$6,695,885.71
OFFICERS.
Geo. W. Bates, President. A. L. Tucker, Cashier.
E. G. Crawford, Vice-President. Graham Dukehart, Asst. Cashier.
DIRECTORS.
Geo. W. Bates. Dr. K. A. J. Mackenzie.
George G. Bingham. Robert Treat Piatt.
P. S. Brumby. Andrew R. Porter.
E. G. Crawford. Chas. S. Russell.
J. E. Wheeler.
STATEMENT OF CONDITION OF
LADD & TILTON BANK
At the Close of Business September 12, 1914
RESOURCES
Loans and Discounts .$ 8,090,215.73
Bonds and Stocks 3.368,951.65
Customers' Liability on Letters of Credit.. 200,860.24
Real Estate 60,000.00
Cash on Hand and Due From Banks 3,762,115.83
$1.5,482,143.45
LIABILITIES
Capital Stock Fullv Paid $ 1,000,000.00
Surplus and Undivided Profits 1,327,704.58
Letters of Credit 200,860.24
Reserved for Interest and Taxes 24,000.00
Deposits 12,929,578.63
$15,482,143.45
- REPORT OF THE
Scandinavian-American Bank
At Close of Business September 12, 1914
RESOURCES
Loans and Discounts $1,148,945.38
Stocks and Bonds 2-'r0
Real Estate, Furniture and Fixtures 4,071.b8
Cash and Due From Banks 432, .63.10
Total Amount Resources $1,842,445.51
LIABILITIES
Capital Stock Paid irf $ 100,000.00
Surplus and Profits, Less Expenses and
Taxes Paid , 25-258.62
Deposits, Individual and Banks l,71,18b.8tf
Total Amount Liabilities $1,842,445.51
STATEMENT OF CONDITION OF
The Northwestern National Bank
of Portland. Oregon.
At the Close of Business September 12. 1914
RESOURCES
Loans and Discounts $1,882,95423
United States Bonds 50,000.00
Other Bond! and Securities 579,302.32
Furniture and Fixtures 74,786.01
Cash on Hand and Due From Banks 1,165,424.91
$3,752,467.47
. LIABILITIES
Capital Stock Paid in $ 500,000.00
Surplus and Undivided Profits 109,481.74
Circulation 50,000.00
Deposits 3,092,985.73
$3,752,46747
STATEMENT OF CONDITION OF
Portland Trust and Savings Bank
of Portland. Oregon.
At the Close of Business September 12, 1914 .
RESOURCES
Loans and Discounts $ 875.290.11
Bonds and Stocks 231,245.02
Real Estate, Furniture and Fixtures 242,388.79
Cash and Due From Banks 286,618.42
$1,635,542.34
LIABILITIES
Capital Stock Paid in $ 300,000.00
Surplus and Undivided Profits 56374.95
Deposits 1,278,667.88
m.iwurati
DffiECTORS OF BOTH INSTITUTIONS: H. L. Pittock, Chairman of the Board; Charles H. Carey, A. D. Charlton, J. D. Farrell,
William D. Fenton, George H. Kelly, F. W. Leadbetter, L. B. Menefee, A. S. Nichols, Emery Olmstead, John Twohy, 0. I Prist,
Combined Deposits, $4,371,653.12
REPORT OF CONDITION OF
The First National Bank
of Portland, Oregon
At Close of Business September 12, 1914
RESOURCES
Loans and Discounts $12,355,966.18
U. S. Bonds at Par 1,800,000.00
Other Bonds 1,975,258.64
Bank Premises and Real Estate 492,000.00
Due Us From U. S. Treasury 75,000.00
Cash on Hand and in Banks 6,150,927.93
$22,849462.75
LIABILITIES
Capital Stock 2,500,000.00
Surplus and Undivided Profits 1,103,860.76
emulation 1AS6.096.00
Deposits 18,109,196.99
$22,849,152.75
CONDENSED REPORT OF
THE CITIZENS BANK
Portland, Or.,
At the Clone ot Business Sept. 14, 1014.
RESOURCES
Cash on hand
Portland bonds
$213,653.97
133.SS5.00
-$347
Ixians - -
Heal estate, furniture..
LIABILITIES.
53S.9T
. 405.294.80
8,060.00
$760,893.77
Capital paid In.......
Surplus and profits..
Deposits
$100,
23
637
000.00
026.60
867.17
$760,893.77
SALE ORDERS HELD BACK
SECURITIES ABE WITHDRAWN
FROM NEW YORK MARKET.
7- sterling exchange, eaaier; cables.
iii.9S.75: demand, $4.9S; bar silver, 54Hc.
sw FKA.XOISCO, Sept. 14. Sterling
Demand. $1.0S' ; cable. $4.99i4.
LONDON. Sept. 14. Bar allver, J4Hd per
ounce; discount rates. 3-4 & 3H per cent.
More Hopeful Situation Abroad Cause
Cancellation ojjlnatrnctions to Sell,
tiold Sent to Canada.
NEW YORK. Sept. Ji. Inauguration of
gold exports to CnaBa. in partial payment
of New York Clty" Indebtedness to London
and Varir, and withdrawal from the market
of some large orders to sell listed securities
were the interesting financial developments
of the dav. Five million dollars was taken
for shipment to Ottawa, there to he ilaced
to the credit of the Bank of England. As
much more nrobably will go across the bor-
Cancellatlon of' the orders to sell stocks
was associated wltn latest ni"
abroad, which indicated a more hopeful
feeling regarding the cause of too allies in
the war with Germany.
It was said that a substantial part of ths
new German loan of ?JO. 000,000, now In
process of flotation by Berlin bankers, woull
be suoscribed for by wealthy German-Amerl-
cans, but a canvass oi tno iniu.iiuiiw
banking interests failed to elicit any con
firmation of these rumors.
Cables and demand on London eased a
fraction of a cent to the pound and brokers
In exchange reported a moderate Inquiry for
remittances on Paris, but bills on that cen
ter continued scarce. It was said, however,
that considerable business was being done
between London and Paris in American
grain bills. Local brokers also sold some
30 day bills for our foodstuffs on Amsjer-
daLaat week s bank statement contributed
to the ess.r tone of the money market,
some 30-day loans oeing made at , per cent
i.r-n-lateral as against the re
cent average rate of 8 per csnt. It was con-
If you have to walk, distance doesn't
lend enchantment to the view.
REPORT OF THE CONDITION
OF
MERCHANTS NATIONAL BANK
WASHINGTON AND FOURTH STS.
PORTLAND, OREGON.
At the Close of Business, September 12, 1914.
RESOURCES.
Loans and Discounts $2,091,395.54
United States Bonds 433,000.00
Premium on Bonds. . 6,761.39
Other Bonds, Stocks
and Warrants ..... 867,126.91
Real Estate and
Mortgages
Furniture and Fix
tures Banking Premises...
Customers' Liability
under Letters of
Credit
Cash and Due from
Banks
44,847.14
30.250.00
80,500.00
12,630.00
1,221,449.35
LIABILITIES.
Capital stock .$ 500,000.00
Surplus and U n d i-
vided Profits 101,738.58
National Bank Notes
Outstanding 300,000.00
Dividends Unpaid. . . 541.75
Bonds Borrowed 175,000.00
Deposits 3,710,680.00
.$4,787,960.33
$4,787,960.33
Deposits September 12, 1914
Deposits September 12, 1913 3,537,294.09
Increase $ 173,385.91
60-day
,u..e. pr.dVtMl that as soon
h'.nlm recoun their reserves, 30
loans will decline to 0 per cent.
Movements of cereals from Middle
West show some Increase, and tornage over
the principal lines is well up to last year s
a. erase due chiefly to larger grain receip.s
'rom the Northwest. General business in the
West continued quiet but hopefu., the bank
:"g In tenia of that section ev neuig a fur
ther disposition o build up -.heir cash Hold
ings in anticipation of coming demands.
Sterling Es change.
NBTV YORK. Sept. 1. Mercantile paper.
HIBERNIAN SAVINGS BANK
of Portland, Oregon
Statement at Close of Business September 12, 1914
RESOURCES
Loans and Discounts
Real Estate, Furniture and Fixtures
Stocks- and Securities
Bonds and Warrants
United States Government
Bonds $ 54.875.00
T H.- Tmmnromi Rnnrls Jl,lJ.iU
Other Bonds and Warrants ivno.
00
Cash on Hand and Due From Batiks.
LIABILITIES
Capital Stock
Surplus and Undivided Profits.
Dividends Unpaid
Savings and Time Deposits
Demand Deposits
Total Deposits
.$1,810,932.15
. 1,011,725.93
r ) a. - -
$1,971,485.95
38,502.68
24,163.05
384,933.20
709,579.74
$3,128,664.62
$ 200,000.00
104,618.54
1,388.00
$2,822,658.08
$3,128,664.62
STATEMENT OF CONDITION OF
Security Savings and Trust Company
Portland, Oregon
At Close of Business on September 12, 1914
RESOURCES
Lows $ 526,829.51
Bonds, Warranto 341,028.52
Real Estate None
Customers' Liability Under Letters of Credit 86,807.00
Cash and in Banks 143,725.43
$1,008,390.46
LIABILITIES
Capital 250,000.06
Surplus and Undivided Profit. 234,458.67
Letters of Credit 87,026.07
Deposits 626,904.83
$1,098,390.46
Charter No. 4614
CONDENSED REPORT OF
THE UNITED STATES
NATIONAL BANK
of Portland, Oregon
Submitted to the Comptroller of the Currency at the Oloee
of Business September 12, 1914
RESOURCES
Loans and Discounts ,...$682,788.00
United States Bonds at Par 1,115,967 M
Municipal and Railway Bonds 1,368,939.98
Bank Building 125,000.00
Customers' Liability on Letters of Credit. . . 24,246.68
Cash in Vaults $1,499,634.17
Due From Banks 1,439,818.01 2,939,862 J8
Total $11,866,291.48
LIABILITIES
Capital $ 1,000,000.00
Surplus h 1,000,000.00
Undivided Profits 236,272.23
Circulation 796,600.00
Letters of Credit 0
Deposits 8,809,172.52
Total i $11,866,291.43
CONDENSED REPORT
HARTMAN & THOMPSON
BANKERS ,
At the Close of Business September 12, 1914
RESOURCES
Loans and Discounts
Stocks and Bonds
Real Estate
Furniture and Fixtures
Cash on Hand and Due From Banks.
LIABILITIES
Capital
Surplus and Undivided Profits
Deposits
.$217,771.09
. 134,934.84
. 15.695.00
. 16,724.07
. 109,085.27
$494,210.27
.$100,000.00
. 14,704.48
. 379,505.79
$494,210.27