Image provided by: University of Oregon Libraries; Eugene, OR
About Morning Oregonian. (Portland, Or.) 1861-1937 | View Entire Issue (May 12, 1915)
fiRE TRADE SOUGHT
ARGENTINE'S GREATEST FINANCIER WHO IS IN WASHINGTON TO
price. 14c per pound f. o. b. dock, Portland;
Young Americas, I5o per pound.
VEAL Fancy, 1010t&o per pound.
FORK Block. 1010sc per pound.
1 Staple Groceries.
Local Jobbing quotations:
SALMON Columbia River one-pound
tails. $2.$o per dozen: half-pound flats,
$1.50; one-pound flats, $2.50; Alaska pink,
one-pound tails, $1.05.
HONEY Choice. $3.25 per case.
NUTS Walnuts, 15024c per pound; ra
il I nuts, 15c: filberts. 14l?24c; almonds. 23
& 24c; peanuts, tlc; cocoanuts, $1 per dos.;
pecans, lttp'20c; chestnuts, 10c
BEANS Small white, tl'c; large white,
6c; Lima, 6!4c; bayou, Gc.
Coffee Roasted. In drums, 31 033 Vic
SUGAR Fruit and berry, $6.80; beet.
$6.60; extra C. $6.30; powdered, in barrels,
$7.05; cubes, barrels, $7. SO.
SALT Granulated, $15.50 per ton half
ground. lOOs, $10.73 per ton; 50s. $11.60 per
ton: dairy, $14 per ton.
RICE Southern head, 6UT6c; broken,
4c per pound; Japan style, 5&5$e.
DRIED FRUITS Apples. Sc per pound;
apricots. I315c: peaches. Sc; prunes. Ital-'
lans. Si?f9c: raisins, loose Muscatels. 8c: un
bleached Sultanas. 7c; seeded. 9c : dates.
RECOVERY IS EASY
The First National Bank
Greatest Capitalist of. South
America Is in Washington.
Stock Market Gives Proof of
Fifth and Morrison Streets
Capital and urplus - - $3,500,000
Security and service are the qualities
we offer for consideration in choosing
ARGENTINE AGENT IS ROLE
FOREIGNERS ARE BUYERS
fcnnitici Hale Pearson Attends Fi
nance Congress as Ilepresenta
tlve or His Country, to In
crease Business Relations.
LusiUtnia Disaster Is Less of I)e
pressing Influence, ' but Italian
- Situation Is Still a Deter
rent l-actor in Market. ,
TIIE 3IORXIXG OltEGONIAN. WEDNESDAY, 3IAY i, 1915.
I " ' -x-v I S3, ft
I 1 tr h ' .
; - i . . J ftyvv Y
. " - " - . , - - & , '
5. 8 -f -V' ' : :
NEW YORK. May U. (Special.)
Famuel Halo Pearson, one of the most
important financial men in the world
and the greatest capitalist of South
America, is in this country as the rep
resentative of the Argentine Republic
at the International Congress of Fi
nance, which was to be held at Wash
Mr. Pearson has had a highly inter
esting career, lie was born in Buenos
Aires in 1867 and was educated at the
Salvador College there and the Foly
technlcal School of New York. He
gained an extensive commercial experi
ence in his travels and in 1890 he
Joined the banking firm of Samuel B.
Hale Ac Co., Buenos Aires, which was
founded by his grandfather in 183?.
He has taken a leading part in the
industrial development of his country
and has earned an enviable reputation
and inspired the confidence of all of his
countrymen, as well as' the leading
business men throughout the world by
his dealings and business ability.
Mr. Pearson has "direct control over
billions of dollars invested in South
America and has recently been appoint
ed director of the Bank of the Argen
tine Republic, by the President and
Mr. Pearson is related by marriage
to some of the wealthiest and most
Intelligent families of South America.
When Kllhu Root, as Secretary of State,
visited Argentina in 1903, Mr. Pearson
was one of the principal organizers of
his reception and entertainment.
Mr. Fearson will visit some of the
principal cities of the United States
and will attend the Tanama-Paclf ic
Kxposition. He has let it be known
that he is also here in the interest
of u closer commercial relation be
tween his country and the United
FARMERS' MEET PROPOSED
Multnomah County Granges Appoint
Committees to Make Plans.
Nearly all the ten Granges of Mult
nomah County have appointed commit
tees of three members each to arrange
for a farmers' field day to be held in
midsummer at a place to be selected.
There will be 30 members of the com
mittee, representing Kvening Star, Co.
lumbia, Hockwood, Woodlawn, Lents,
Kairview, Gresham, Pleasant Valley
and Multnomah Granges. A meeting
will be called in a few days, when the
flans for the meet will be made.
The action was suggested by J. J.
Johnson, master of Kvening Star and
Pomona Grange, in, his address at the
annual meeting of livening Star
Grange. It is expected that the Oregon
Agricultural College may take part.
Road construction, taxation, conserva
tion of the soil, school problems, so
cial and economic topics will be con
sidered. X'cvv Thought Editor Coming.
Mrs. Klizabcth Towne. , editor of
the Nautilus, the official organ of New
Thought, will be in Portland this Sum
mer and will speak in the New Thought
Temple of Truth on July 31. Mrs.
Towne was here last Summer at the
convention held in Christensen's Hall
and was one of the principal speakers.
She will not be here at the conference,
May 15 and 16, as was at first an
ticipated by some of, the members.
DAILY METKOUOI.OOICAl, REPORT.
1'ORTT.iAND, May 11. Muxinium tempera
ture Kl degrees, minimum oO.tf degrees. River
rcurliu. t A. M., 7.1 feet; change In last -4
hours. 0.4 foot rise. Totat rainfall (S P. M.
to . P. M., .11; inches; total rainfall since
September 1, 1014. "0.CO inches; normal rain
fall since September 1, 40.80 Inches; defi
ciency of rainfall since September 1. 1914,
"14. .'o inches. Total sunshine, 2 hours: possi
bie sunshine, 3 4 hours 48 minutes. Barometer
(reduced tu sea level) 5 P. !., 1:9.89 inches..
lJoifce . .
t'n Igary ......
Uenver . ......
Trs Moines . . .
Kansas Otty .. .
1 inneapolis . . .
New Orleans . .
North Head . . .
Pendleton . . . .
Flogehurg . . . .
Walla Walla . .
XVashinjrlon . .
Winnipeg . . . . i
7 4 0.
7 -' o
OS 4 13
OJ. JJI w
00 4 NW
00 lO SW
oo! e sw
OL-'lL' N W
:io lo s w
.oo u xiv
1.' ii; sw
12; 8 W
The barometer u relatively low over the
Rocky Mountains and Pacific States and
relatively high over the Atlantic States.
Showers have fallen on the Pacific Slope as
far, south us San Francisco. Showers have
also occurred In North Dakota and Northern
Minnesota and local rains have fallen in the
Lower Mississippi falley and Bast Oulf
States. The temperatures have risen decid
ed'. v in the Lake Region.
The conditions are favorable for showers
In this district for Wednesday.
Portland and vicinity: Wednesday show
ers, southwesterly winds.
Oregon and Washington: Wednesday
sj&nwers, southerly winds.
Idaho: Wednesday showers.
CD WARD A. SEALS, District Forecaster.
London Wool Sale.
LONDON. May 11. There were only SBS0
Vales brought forward at the wool auction
sales today. Congestion at tho docks and
warehouses was responsible for the small of
ferings. The demand was -good and prices
were steady. Russians took many lots of
Queensland scoured merinos and paid 2s
Sd for the best grades.
Msixnrell'a Initial Dividend.
NEW TORK, May 11. Maxwell Motors
Company today declared an initial quar
terly dividend of 1 4 par eet on tn flrtt
preferred stock and additional or extra
Llvldend of V of 1 per cent for account of
cumulated dividends on this same class
-r. f t " -81
' ' i 1 1 p -
S v , v ill t t
. 'f I J' rv " -
WHEAT PRICE BID UP U
Local Market Advances Seven
to Eight Cents.
BLUESTEM IS AGAIN ACTIVE
No Change Apparent In Iocul Ship
ping Situation Coarse Grains
Are Also Put on Higher
.There was a sharp bidding up of prices
at the Merchants' Exchange yesterday and
the session closed witb gains established
throughout the entire list. The sudden
bulge at Chicago imparted a more cheerful
tone to the trade generally, yet local condi
tions wre not changed from what they were
on the preceding day.
The sales posted at the Merchants' Ex
5.000 bushels prompt bluestem 9 1.17
0.O00 bushels June bluestem l.K)
sio.ooo bushels June bluestem 1.20
1100 tons June barley 23. OO
Spot bluestem at $1.1T was T cents higher
than the best offer made on Monday. The
demand was strong, as shown by a final
bid of 1.1S. but there were no sellers under
il.20. The last previous transaction in
milling bluestem was on April 2, when
prompt delivery sold at 11.33 and May deliv
ery at $1.33 The June bluestem sales
were 7 to S cents over Monday's bids, and
In this case, also, fiaal offers were the bast
of the day. The last sale of June bluestem,
on April 22, was at 1.38.
Other bids in the wheat list were from
2v to 11 cents higher than on Monday, but
sellers were firm and there was generally
a wide range between the bids and asked
June barley brought 50 cents more than
was offered for it on Monday. Bids at the
close were raised another quarter without
sales. Better prices were also offered for
oats, but ho lots changed hands.
Bradstreets reports the visible wheat de
crease for the week at 810.000 bushels, the
corn decrease at 1.543,000 bushels and the
oats decrease at 4.17S.OOO bushels.
The Canadian wheat visible Is placed at
10.014.000 bushels, a decrease of B39.000
bushels. The visible a year ago was 1T.819.
Wheat quantities on passage last week
were 02.112,000 bushels.
American grain dealers have been much
Interested In reports cabled from London
that the Indian government has decided to
step In and contiol the exports of the wheat
crop just harvested and which is consider
ably in advance of expectations. An at
tempt will be made to avoid the situation
that has presented Itself to American con
sumers during the last nine months, wherein
practically famine prices have - had to be
paid in the midst of a bountiful harvest.
The Indian government la to make an
attempt to divorce the export from the do
mestic price, and has forbidden the ship
ment of wheat by private parties and the
usual shippers are made the agents of th
government. Coming in connection with
the Canadian order in council forbidding
exports of wheat from that country without
a permit from the Ottawa government, it Is
regurded aa further evidence that Great
Britain means to control the world's wheat
Terminal receipts. In cars, were reported
by the Merchants' Exchange as follows: '
Wheat. Barley. Flour. Oats. May.
Portland. Tues. 3 1
v.r .in 1 8 7 4 ti
Seas, to date.15.S23 1S74 1S13 19:13 195B
Year ago . . . lo,37.- 2ti2J 1577 liuS2
Tacoma. Mon. 30 . li la
year ago... 15 10 .... 4 13
Seas to date. S.S4S 5."x BOB 30O4
Year ago 8,tto2 805 .... 448 23U3
Seattle, Sun.. a i 1- 1 1
year ago.... 17 i - 3 1'4
Seaa to date.. T,4ro lOtW 21fis 1147 5405
year ago 6.403 1C63 19o4 1232 ' 481U
CONDENSED FACTA FOR GRAIN TRADE
New "Miller's Almanack" Valuable and
The "Miller's Almanack," an annual pub
lication of the Northwestern Miller, of Min
neapolis, has Just been Issued. This Is ths
seventh edition of the work, and it Is equal
to its predecessors In accuracy and excels
them m completeness, containing much val
uable information not heretofore Included.
In addition to a vast array of statistics
pertaining to the milling and grain trades,
the almanac contains articles on the tariff,
state bleaching laws, state feed laws, facts
about the domestic and foreign flour trade,
lists of millers' organisations, census re
turns and an Illustrated article on the
Miller's Belgian relief movement.
Decrease in Number of Failures.
Readjustment of general business to a
more stable basis Is Indicated by the dimin
ishing number of commercial failures, each
succeeding month disclosing progressive im
provement In this respect. Thus, there were
2063 Insolvencies reported to R. O. Dun s
Co. during April, as against 209O In March,
2278 In February and 2848 In January ths
deerease In comparison with the opening
month of the year being 27.5 per cent. The
April record, however, shows an apprecia
ble Increase over tho same period of 3914.
when only 18; defaults occurred, while the
aggregate liabilities, owing to a few" sus
pensions of unusual size, were next to the
largest of the current year and more than
At Top Mr. and Mrs. Samuel Hale
Pearson. Below, Left Isabel Pear
on; Right, Maria Teresa Pearson.
double those of April. 1914 $43,517,870 com
paring with g2.549.144 at that time.
NO MORE CALIFORNIA STRAWBERRIES.
Railroad Washout Brings Season to an
End Oregons Scarce.
The Oregon strawberries received yester
day nearly all showed the effect of rain.
The best stock brought 2 and $2.25, but
some of the poor lots sold as low as $1
a crate. California berries that were held
over sold at unchanged prices.
No more strawberries will be brought
from California this year. It Is not likely
the railroad will be opened before Thurs
day and for that reason local dealers have
placed no further orders far California
fruit. This will . give Oregon berries a
clear track from now on and If the weather
clears the supply will be ample. The rain
has been a great benefit to the crop. But
for the downfall, the season would have
been a very short one.
Five cars of bananas will arrive today.
They were last reported in good condition.
The banana market is 'steadily advancing
at Gurf ports.
There was a sufficient supply of vege
tables on hand yesterday, but there is
likely to be a scarcity before the end of
the week, as nothing will get through
from California before . Friday at the
earliest. The steamer Northern Faciflo
brought a quantity of new potatoes, peas
and other vegetables. Both peas and new
potatoes are higher in the South.
A car' of Florida tomatoes arrived in poor
Poultry Market Is Lower.
Poultry sold at lower prices yesterday, as
receipts were excessive. Hens were quoted
at 12 and 13 cents and broilers at 22
to 25 cents. Dressed meat prices were un
changed. The egg market was ateady at former
quotations. Dairy produce lines were also
Bank clearings of the Northwestern cities
yesterday were as follows:
Portland $1,451,839 $170.52
Seattle 2.00S,'J77 230.7K0
Tacoma 370,019 72,927
Spokane 500.107 57,198
PORTLAND MARKET QUOTATIONS
Grain, Flour, Feed, Etc.
Merchants' Exchange, forenoon session.
Wheat Bid. Ask.
Bluestem $ 1.18 $ 1,20
Forty-fold 1.12 1.17
Club 1.12 1.15
Red fife l.ll 1.14
Red Russian l.Ou 1.09
No. 1 feed, white 28.00 30.50
No. 1 feed 2j.50 21.00
Bran 24.75 26.50
Shorts 2O.00 27. 00
June bluestem ................ 1.20 1.21
June forty-fold 1.15 1.17
June club 1.15 1.17
June red fife 1.12 1.17
June red Russian 1.07 1.10
June oats 29.50 31.00
June barley 23.25 23.50
June bran 25.00 27.00
June shorts 25.50 27. 0O
FLOUR Patents. Jrt.BO a barrel; straights,
; whole wheat, $0,80; graham, $6.60.
MILLFEED Spot prices: Bran, J25.50O
26 per ton: shorts, $27.50&2S; rolled barley,
$27.50 Iff 28.50.
CORN Whole, $35 per ton; cracked, $36
HAY Eastern Oregon timothy, $1415;
Valley timothy. 12rai2.50: grain hay, $100
12; alfalfa. $12.50 13.50.
Fruits ana Vegetables.
Local jobbing quotations:
TROPICAL FRUITS Oranges, navels,
$2.2.r$S.25 per box; Mediterranean sweets,
$2.25Q3.50; lemons, $3.5o4.75 per box;
bananas, 4 H S3' 5c per pound; grapefruit.
$4.25 6 5.75.
VEGETABLES Cucumbers, Oregon, 75c
$1.25 per dozen; artichokes, 75c dozen; to
matoes, $5 per crate; cabbage. 243'4c
per pound; celery, $3.504 per crate: head
lettuce, $2.25 per crate; spinach. So per
pound; -rhubarb. llVs0 per pound; aspar
agus, 75c$1.25; eggplant. 25c per pound:
peas, 7&Sc Per pound; beans, 10(312c per
GREEN FRUITS Strawberries. Oreron,
$13.00 per crate; California, 75c $1.25
per crate; apples, $1(&1.75 per box; cran
berries. $llcr12 per barrel; cherries. $1.75(0
2 per box; gooseberries, 4 5c per pound.
POTATOES Old. $1.75 2 per sack; new,
61r6t4o per pound.
ONIONS California, yellow. $1.50; white.
$2 per crate.
SACK VEGETABLES Carrots, $1.502
per sack; beets, $2&2.25 per sack; turnips.
$1.50 2 per sack.
Dairy and Country Produce.
Local Jobbing quotations:
EGGS Fresh Orejron ranch, case count,
18H19c: candled, 19Sr20c per dozen.
POULTRY Hens. 12ir013c: broilers. 224
(6l25c; turkeys, dressed, 22fcl 24c; live. IScql
20c: ducks, old, 912c; young, 189 30c:
geese, 6 if He
BUTTER Creamery, prints, extras, 25c
per pound in case lots: io more in less than
case lots; cubes, 21 22c
CHEESE Oregon triplets, Jobbers' buying
Persian, 10c per pound ; iara, si. bo per box;
Hops, Wool, Hides, Etc.
HOPS 1914 crop, nominal; contracts,
HIDES Salted hides. 34e; salted kip. 14e;
salted calf, 18c: green hides, 13c; green kip,
14e: green calf, ISc; dry hides, 24c; dry
WOOL ICastern Oregon, medium. 25(S2c:
Eastern Oregon, fine. 1820c: Valley, 23
MOHAIR New clip, S2K033O per pound.
CASCARA BARK Old and new. 44fto
PELTS Dry long-wooled pelts. 14c; dry
short-wooled pelts, 12c; dry shearlings, each,
10c; salted shearlings, each, 1525c; dry
goat, long hair, each, 13c: dry goat, shear
lings, each. 10it?20c; salted long wool pelts.
May. $12 each.
HAMS All sizes, 1718c; skinned. 17
& 18c; picnic, 12c; cottage roll, 13Vic;
BACON Fancy. 272ei standard, 230
24c: choice. 17l4g22e; atrips. 174t
DRY SALT Short, clear backs, 13 015 He;
exports. 15617c; plates, lH4rl3e.
LARD Tierce basis: Kettle rendered,
12Vic; standard, 12c; compound. 83ic
BARREL GOODS Mess beef, 23c; plate
beef, $24.50; brisket pork, $28.50; pickled
pigs' feet, $12.50; tripe. $9.50 11.60;
KEROSETNK Water white, drums, barrels
or tank wagons, 10c: special drums or bar
rels, 134c; cases, 17 20 He
GASOLINE Bulk. 12c: cases, 19c; engine
distillate, drums, 7Vc; cases, 7'sc; naphtha,
drums, lie; cases, 18o.
LINSEED OIL Raw, barrels, T5c; raw,
cases, 80c; boiled, barrels, 77c; boiled, cases,
TURPENTINE In tanks, 60o; In cases,
67c; 10-case lots, lc less.
HOGS HOLDING STEADY
ONLY OXE LOAD IS RECEIVED AT
Nine Loads of Sheep Brought la aad
- Sales' Are at Carre sit
The larger part of the arrivals at the
stockyards yesterday were made up of sheep
and lambs. Only one load of 'hogs showed
up and sales in this division were at Mon
day's prices. Several good sized bunches of
lambs and sheep were disposed of within the
current range of quotations. Trading in the
cattle market was very small.
Receipts were 119 hogs and 1639 sheep.
With hogs J. M. Cobb. Eugene. 1 car.
With sheep W. J. Dixon, Rose burg, 2
cars; Tllton & Hovan, Roseburg, 2 cars; E.
T. Ketchum & Son, sinamox, 2 cars; A. O.
Harvey, Sherar. 1 car; W. O. Bridges &
Son. Oakland. 2 cars.
The day's, sales were as follows:
Wt. Prioel wt. Price
.1 calves.. 118 $s.O"l 2; yearlings 72 $7.no
1 cow 10K0 6.00(112 sheep 70 5.25
7 hogs 153 8.15,100 lambs. . . 00 8.25
1 hog 130 7.50i lcow.... 1090 6.00
z nogs im s.io 5 hogs 1H2 8.15
8 hogs 1S6 8.13 2 hogs 1.S0 8.15
167 ewes t3 4.50 5 hogs.... 13S 8.K
9S ewes 89 5.23J 1 hog 140 7.65
268 wethers. 80 6.25 1 hog 350 7.15
Prices current at the local stockyards on
the various classes of stock:
Best steers $7.50 8.00
Choice steers 7.00 7.50
Medium steers .. 6.757.00
Choice cows Q.25$a.so
Medium cows 5 00 n 5.75
Heifers 5.00 if 6,75
Bulls 3.50 a1 5.75
Stags . .. 5.006.75
Heavy , .. 6.50 3 7.35
Sheared wethers 6.0007.00
Sheared ewes ................... 4.00ia5,75
Sheared lambs 6.00 0 7.09
Full wools $1 higher.
Omaha Livestock Market.
SOUTH 'OMAHA, May 11. Hogs Re
ceipts, 850O; steady. Heavy, $7.157.25;
llsht. $7.25fi!7.35; pigs, $6.507.25; bulk of
sales. $7.20 fc' 7.30.
Cattle Receipts. -3600; higher. Native
steers, $7.50 4f S.55 ; cows and heifers, $5.75
17.85; Western steers. $6.50t?8; Texas
steers. $07.35; .cows and heifers, $5.507;
Sheep Receipts, 1800: higher. Tearltngs,
$8.8089.4O; wethers, $88.85; lambs. ta
Chicago Livestock Market.
CHICAGO. May 11. Hogs Receipts, 10.
000; unsettled, 3c lowersto 5c higher than
yesterday's average. Bulk, $7.40 7.60; light,
$7.30 7.65; mixed, $7,2507.65; heavy. $7(&
7.fc0; rough, $75x7.15; pigs. $5.25 4 6.90.
Cattle Receipts. 2000; strong. ' Native
beef steers, $11.80 . 25; Western steers. $6
Si 7.00: cows and heifers, $3.30 08.75; calves,
Sheep Receipts, 10.000; strong. Sheep,
$7.758.70; lambs, 8.40(.r 11.15.
SAN FRANCISCO PRODCCK MARKETS
Prices Current In the Bay City on Frails,
SAN FRANCISCO, May 11. Butter
Fresh extras. 23&c; prime firsts, 2214c;
fresh firsts, 22c.
Eskb Freeh extras. 2Sc; firsts, 21c; sec
onds, 18c; pullets. 21c. t
Cheese New, S5j.llic; Young Americas,
12'ic: Oregon, 13fec.
Vegetables" Celery, 50c$1.25; peas,
3i'4c; cucumbers. 75ci$1.15; asparagus,
$1.5082; string beans, 4ii7c; wax beans,
Onions California, 6575c; Oregon. 85c
Fruit Lemons, $1.505f3.25; grapefruit,
$1. 506 2; oranges. $1.752.75; bananas,
Hawaiian. $ 1.50 Si 2.25; pineapples, Ha
waiian. 45c; apples, California Pippin.
75c a $1.20.
Potatoes Oregon, $1.75fr2: Idaho, tl. 509
I. &O: new, 3S3Vc; sweets, $202.25; garnets
S ft 3 V4 c.
Receipts Flour, 5402 H quarters; barley,
II. 323 centals; potatoes, 2633 sacks; hay, 40
NEW TORK. May 11. The market for
coffee futures was steadier today, owing to
a more optimistic feeling as to interna
tional conditions and a feeling that specu
lative long accounts had been pretty well
liquidated on the recent decline. The open
ing was 5 to 7 points net higher and prices
improved further during the day on cover
ing and a little Wall street demand. The
close was S to 11 points net higher. Sales,
47,750 bags. May, 8.01c: June, ft. 05c; July.
7.fllo; August, 7.11c; September, 7.13c; Oc
tober. 7.1k: November, 7.19c; December,
7.23c; January, 7.26c: February, 7.S2c;
March. 7.SSC April, 7.40c.
Spot quiet. Rio No. 7, 7ic; Santos No.
Cost and freight offers were reported
easier with new-crop Santos 4s quoted as
low as 9. lie
Milrel prices were unchanged at Rio and
50 reis lower at Santos. Rio exchange on
SAVANNAH. Ga., May 1 1. Turpentine,
quiet. 42c; sales, 228 barrels; receipts, 703
barrels; shipments, 550 barrels; stock, 21,
Rosin, firm: sales, 10,138 barrels; receipts,
2910 barrels: shipments, 4074 barrel; stocks,
59.850 barrels. Quote: A, B. $3.uoj 3.1U; F.
8.15613.23; G. $3.20((3.30; H, 3.25to3.45; I,
$3.40 3.45; K. $3.40"& 3.55; M. $4.O0; N,
$5.00; WG, $5.408!5.50: WW. $5.504j5.60.
NEW YORK. May 11. Copper firm.
Electrolytic. lc: casting, 18. SOS IS. 75c.
The New York Metal Exchange quote
tin quiet; 5-ton lots, 40 42c; 25-ton lots
offered at 4l'c.
The metal exchange " quotes lead quiet,
Spelter iKast St. Louiej spot offered at
NEW YORK. May 11. The ease with
which prices today recovered from their
abrupt declines of the previous day was ac
cepted as further proof of the stock mar
ket's underlying firmness.
The chief factor in today's advance, which
was most pronounced in the buoyant open
ing was the note Of quiet reassurance con
tained in President Wilsons Philadelphia
Encouragement also was felt in the cessa
tion of the heavy foreign selling, which con
tributed lo the weakness of the preceding
session. In fart, from all accounts London
and the continent were moderate buyers
A purt from Its general Improvement, tne
chief feature of the market was its com
The situation growing out of the Lusl
tanla disaster was less of a depressing in
fluence, but foreign conditions as a whole,
especially Italy's possible course. which
formed the basis of many conflicting rumors,
was plainly a deterrent to more bullish ac
tivities. Domestic news of a routine character In
eluded an Increasing demand for copper, a
hardening tendency for time money, the suc
cessful result of the Pennsylvania Railroad
bond offering and declaration of an Initial
dividend on the first preferred stock of
Total sales of stocks amounted to oio.oou
Investment bonds moved In sympathy with
shares, all the leading issues regaining the
losses of the previous day. Total sales, par
value, aggregated $2,650,000.
CLOSING STOCK QUOTATIONS.
High. Low. Close, bid.
Alaska Oold 11. .".00 34 i 32 Vi 34 5,
Amal Capper... 31.30O 6S M
Am Bret Sugar. 3.5O0 45 ' 42 Vs 45
American tan.. ls,6oi 34, 331 34
Am Sm & Refg. 5,300 67 W 65S ' a
do pfd l"r'Vi
Am Hug Refng. . 5"X 109 106 lort
Am Tel & Tel.. 1,0I0 119',i 119 119
Anier Tobacco.. 4oo 235 230 228
Anaconda ilin.. I3.1oo .12N, 31H 32
Atchison 4. MM) 100-5, 1"0
Bait A Ohio.... 4,800 73 'Hi 73
Br Rap Transit. l.WMl SS', 87" 87
Cal Petroleum.. uoO 16. 15H 16
Canadian Pac... 3.90O l.-.;i 157i 15R
Cent Leather... 3.400 37 S51 36
rries & Ohio... 1.000 43-U 43 4314
Chi Or West "4
Cbl Mil A St P. 8,21)0 91 89 1
Chi N W 300 12iS. 12i 126
Chino Copper.. 7.2no 44 H 43 44
Colo F Iron.. 2.300 27 S 204 2ta
Colo South J
D R G
do pfd 12H
Dist Securities.. 1.0O0 18H 12V J2
Erie lO.ttOO 23 ? 25 25t
Gen Electric ... -OO 152 150 151 Vj
Or North pfd. . . 1.00O 117H, 11'4 I'tt
Or Nor Ore ctfs. S.OOO 33 33 33
Guggenheim Ex. 3,800 58 56 57
Illinois Central 10i
Inter-Met pfd... 4.30O 71 4 69 70
Inspiration Cop. S.8OO 29 28V4 20
Inter Harvester 9-
K C Southern. . . 2.500 27 27 2.
Lehigh Valley.. 17,000 404 139V4 140
I.ouis & Nash 11
Mex Petroleum. 13.ROO TS 72. 75
Miami Copper.. 200 24 24 24
M K & T 1.6O0 13 13 13
Missouri Pacific. 2,300 14 13 14
Nat Biscuit 11
Nat Lead ' 3,500 0 59 59
Nevada Copper. 1,400 14 14 14
N Y Central.... 1.W0O 85 85 85
N Y. N H & H. 2.100 65 63 5
Nor & Western .-. . . 103
Nor Pacific... 2,300 106 105 105
Pacific Mail.... 1,500 21. 20 21
Pac Tel Tel.. 200 30 30 SO
Pennsylvania .. 2,400 106 106 10
Pull Pal Car 153
Ray Cons Cop.. 8.10O 23 22 22
Reading 25.20O 146 143 144
Rep Ir & Steel. 1.700 26 25 26
Rock Isl Co 400
do pfd .....
StLarSF 2d Pfd. S0O 5 5 4
South Pacific... 9,400 89 87 88
South Ry 1.4O0 17 18 17
Tennessee Cop.. 1,200 81 81 Rl
Texas Co 800 127 126 127
Union Pacific... 32,500 126 124 125
do pfd 800 81 Sl Rt
U S Steel 86,000 54 52 53
do pfd 8MJ 106 106 106
Utah Copper .. 2.700 65 63 64
Wabash pfd ... 300 1 1 1
Weeteen Union.. 500 66 6(1 66
Westing Elec... 33,900 8 87 8S
Montana Power. 500 48 48 48
Total sales for the day, 610,000 shares.
U S Ref 2s. reg. 97iNor Pao S 64
do coupon. . 98 I do 4s 92
U S 8s, reg 100 Union Pac 4s... 96
do coupon 100 So Pac Conv 5s. 79
U S 4S. reg 109 (C M & S P C 6s. 103
do coupon. .. .110IPa Conv 4s...l03
N Y C G 3s. b 89j
Money, Exchange, Et.
NEW YORK. May 11. Mercantile paper,
S it 3 per cent.
Sterling exchange, steady. Sixty-day bills,
$4.7675; for cables, $4.7965; for demand,
Bar silver, 00c.
Mexican dollars. 38c.
Government bonds, weak;, railroad bonds,
Time loans steady. CO and 90 days, 2
&3 per cent; six months. 33 per cent.
Call money, steady; high, 2 per oent;
low. 1: ruling rate, 2; last loan, 2; clos
ing bid, 1; offered at 2 per cent.
LONDON. May 11. Bar silver. 23d per
ounce. Money, 11 per cent.
Discount rates, short bills, 2 per cent;
three months, 2 per cent.
SAN FRANCISCO. May 11. Sterling. 0
days, $4.76; demand, 4.79; cable, $4.80.
Fewer London Brokers Operate.
LONDON. May 11. An official list posted
today on the stock exchange shows that
about 60O members of the exchange will not
apply for re-election for the current year.
In normal times the London stock ex
change has a membership of about 700 0.
London Stocks Close Unsettled.
LONDON. May 11. American securities
moved Irregularly. Canadian Pacific. Union
Pacific and United States Steel were sup
ported In the afternoon, while the others
were neglected and easy. Th closing was
GRArV SLUMPS HARD AT BAKER.
Wheat Drops From $1.18 to tl and Oats
From $1.40 to $1.30.
BAKER. Or.. May 11. CSpecial.) Grain
prices took a record drop In the local mar
ket today. Wheat fell from a range of
$1.13 o-1.18 down to $1 and $1.05. Oats
dropped from $1.40 to $1.30. while barley
in ton lots went from 25 and $ to $24.
Farmers paid little heed to the prices to
day, but it Is expected that holders will
wait for the reaction from today's big drop
and then sell.
Local mill men say the bump Is due to
there being practically no shipping this
month and because that manipulators out
side have let prices drift after disposing),
of grain contracted for May delivery.
Chicago Ialry Produce.
CHICAGO. May 11. Butter
Eggs Higher. Receipts. 28.M7 eases: at
mark, cases included, 17rlSc; ordinary
firsts, lB&17c: firsts. 18&18c
New York Sugar Market. .
NEW TORK. May 11. Raw sugar firm.
Centrifugal, 4.64c; molasses sugar, 5.87c
Dried-Fruit at New York.
NEW YORK. May 11. Evaporated ap
ple quiet; prunes. dull and nominal;
NEW TORK. May 11. Spot cotton quiet.
Mid-uplands, 9.85c. Sales, 5O0 bale:
Duluth Linseed Market.
DULUTH, May 11. Linseed, cash $2.01;
May. $2.01; July. $2.08.
Wool at New York.
NEW YORK. May 11. Wool Steady.
Husband and Pastor.
Average woman laughs when her
husband is criticised, and raises the)
deuce when her pastor Is criticised.
THE Oldest Bank in the Pacific
Northwest cordially invites your
account Subject to Check or in its Sav
ings Department, with the assurance
of courteous treatment.
Corner "Washinton and Third
ESTABLISH ED 1359
Reports of Damage Cause Big
Jump at Chicago.
GAINS EXCEED SIX CENTS
Vield Mar Be Sharply Reduced lo
Spite of Government's Latest
Figures; Traders Disregard
CHuCAGO, May 11. Alarming crop dam
age reports compelled traders In wheat
today to disregard fears about possible
consequences of the sinking of the Lusl
tanla. After an excited advance, the mar
ket closed strong at nearly the topmost
level of tho session. K4 cents to H cents
above last night. Corn gained IK cents
to 2 cents net, oats 1 cents to 1 cents,
and provisions 15 cents to 45 cents.
Instead of the record-breaking wheat
crop which the latest Government figures
had Indicated, the outlook today was that
the yield ml;ht become sharply reduced.
For example, seven counties In Southwest
Missouri that were reported to the Gov
ernment as having a condition of 90 per
cent were said now to be cut down to 60
per cent with a prospect that half of the
acreage would be abandoned.
Com developed strength with wieat.
Excellent weather for r-lentlng seemed to
have no effect In checking the advanoe.
Oats were helped upward by improved
cash demand. In other cereals trading was
Provisions followed tho course taken by
Leading futures ranged a follows:
Open. High. Low. Close.
May $1.62H $1.6 $1.51 V. $167 14
July 1.2 1.32H 1-2 l
May 74 H .T .T4 .T
July 7Ts .11 .1 .
May 61 H .5S14 .SS't
July 62 .5i .62 .63V
July 15.02 18. SO ltd t.2S
Sept 1S.60 18.65 1 8. M . 18.62
July S.7S .ST B.7R l.WS
Sept 10.00 10.17 10.00 10.17
July 10.65 1.5 10.5S 10.S
Sept 10.82 10. 10.S2 10.0
Cash prices were:
Wheat No. 2 red. J1.5J f 1.65 V, ; No.
hard, $1.64 V4 ei-57'4.
Corn No. 2 yellow, 7tt?T7Hc; No. i
yellow, 76 Vic; No. 4 white, nominal.
Rye No. 2, $1.17 H.
Barley 71 ft 78c
Timothy $5' 6.60.
Clover $8.60 i 11.75.
Primary receipts Wheat, 62,0O vs. 3.
000 bushels; corn, 416.000 vs. 285.000 bush
els; oats, 414,000 vs. 492,000 bushels.
Shipments Wheat, 262.000 vs. 484,000
bushels; corn. 689.000 vs. 68S.OOO bushels;
oats. 814,000 vs. 846,000 bushels.
Clearances Wheat and flour, 792.0OO
bushels; com, 3O0O bushels; oats, 690,000
Minneapolis Grata Market.
MINNEAPOLIS, May 11. Wheat. May
$1.5H ; July. $l.51H: No. 1 hard, $1.A84;
No. 1 Northern. $1.58 K l.121 ; 'o. 2 North
Barley, 6774c: flax, $1.0791.B.
Grain at San Francisco.
SAN FRANCISCO, May 11. Spot quota
tions Walla Walla, $2.16 2.17 ; red Rus
sian. $2.10 2.12 : Turkey red. $2.17 Vi 1
2.20; bluestem. $2.20!S 2. 26 : feed barley.
$1.20; white oats, $1.75 iff 1.77 M : bran. $26.60
J27; middlings. !3!3S: shorts, $;8ffl'2.
Call board Barley, May $1.17, December
Fuget Sound Grain Markets.
SEATTLE, May 11. Wheat Bluestem,
$1.15; forty-fold. $1.0: club. $1.07; fife,
$1.06; red Russian, $1.02; barley, $22 per
ten. Yesterday's car receipts: Wheat 16,
oats 31, barley 6, corn 8, hay 67, flour 6.
TACOMA, May 11. Wheat Bluestem.
$1.18fil.20; forty-fold. II 111.11; club,
$1.1 3 (-(Hi. 15; red fife, $1.193 113. Car re
ceipts: Wheat 30, barley 8, corn 1, oats 2.
North Yakima Ttat Hearing Rushed
NORTH TAKIMA. Wash., May 11.
(Special.) In an effort to expedite the
Pacific Power Llsrht Company rate
A general banking business
Interest paid on time deposits.
Commercial Letters ef Credit
Exchange on London, Knslaad,
bought nnd Sold.
Corner Second and Stark Sts.
F. C. M ALP AS, Manarer.
Sails Direct for San Fra nr I ace. Los Angeles
and Ban IMego,
Today, 2;30 P. M., May 12
SA3( FRANCISCO. PORTLAND
LOS ANGLLXs blEAUSUIP CO.
FRANK BOLLAJa. Agent.
124 Third b. A , Mala !.
hearing, the State Public Service Com
mission began nlarht sessions today.
The hearing Is expected to continue
until Thursday at least. North Yakima s
formal statement of its position was
(Without Chaase En Route)
Sails from Alnsvrorth Deck
A. M MAY 12.
TOO Golden Mllea ea
m m Columbia JUver.
All Rates Include
Mert aad Meals.
Table and Service
'1 he San Prairlses A Portland . S.
('- Third sal Waahlaatoa .
(with 0.-W. R.N. C- Tel. Mar.
shall 4600, A 6121.
NEW ZEALAND and SOUTH SEAS
Sydney via Tahiti. Rarotonga and Wellington
The Magnificent 10,000 Tons (Ms.)
R. M. S. MAITAI
SAILS FROM BAN FRANCISCO MAT Zf.
Further sailing June 24, July Ji, An. 16.
$337.50 r $337.50
BAM FRANCXrVCO TO AUSTRALIA
Tahiti. Rarotonga aad Wellington, lg. fc, mx-i
return to either Han FrancJsco or Vancouver
Tia Auckland, Fiji and Honolulu. Flrat-cJae
throughout. Ktop-over at any point, available
for one year. Send for new pamphlet.
"Islands of tbe Blot."
UX10X STEAMSHIP COMPANY OP JTEW
Hind, Rolpli Co., General Agents,
Office (79 Market St., Han Frnnoiseo. CaL, er
DonHT B. Smith. 118 8d St.. Portland.
Compagnie General Traasatlaatlqn.
Sailings from NEW YORK to BORDEAUX
NIAGARA May 22, 3 P.M.
CHICAGO May 29,3 P.M.
ESPAGNE June 5,3 P.M.
ROCHAMBEAU . June 12, 3 P. M.
FOR INFORMATION APPLY
C w. Stlager. so eth St.; A. , r hart tow.
tas Murlws ; J. M. Taylor, C. M. A St.
I". Rt. IMrsey B. Smith, lie Sd 1U A. C
bbeldon, 100 3d St.; 11. IMckson. $4 Wash,
lngton at. : Worth flank Road, 6th and Starll
st a. F. s, Mrrarlaad, Id and Washington)
MS.: JC B. Duffy. XX id at Portland.
Palaces of the Pacific
S. S. NORTHERN PACIFIC
8. !. (.HKAT NURTHKRX
lie Luit Past Llae to
KORTHKRV PACIFIC Halls
May 1.'., 10, 33, 27, SI.
Steamer train leaves North Bank sta
tion 8 A- M., arrives Flavel 12:30; lunch
aboard ship; fcS. arrives Kan Francisco
8:30 P. M. next day.
NORTH BAVK TICKET OFpirE,
Phoneat Mar. B-'O, A HIT1 Ch nnd fetnrlc
LOS ANGELKH. SN IIIEUO AND
S. S. GEO. W. ELDER
hails Wednesday, May It. at S P. M.
NORTH PACIFIC STEAMSHIP CO.
Ticket Office Freight Office.
1H1A Id bt. D loot nrurun Ht
Mala 1311. A 1314 I Mala zua, A Hit
American-Hawanan Steamship Co.
A-i Bteamah.p "HONOLl'LAS"
7uC,D lirosn Iocs)
Carrying First-ciass Pn.iengsrs Only to
via tbe Panama Canal.
Sails from ban Krancmco ou or about
Fare. . . ll.W.Ov.
C. D. liL-iLV. Agent.
210 Stark Street. Portland, Or.
Steamer HARVEST Qt EEJf leaves
Ash-street Dock dally except fiiili
day. 8 P. M.. for Astoria and way
points. Returning, leaves Astoria
dally em.-etit Sunday. 7 A. M.
Tickets and reservation at O.-tV. U. N.
City Ticket Office, Third and Washington
streets, or at Ash-street rock. Phones:
Marshall 4r.(X. A R121.
COOS BAY LINE
Sails From Alnswerth Hock. Purtlaad.
every Thursday at it A. M. Krelght and
Ticket Office, Alnaworth I lock. Phonee
Mala SOOO, A 23X2. City Ticket Office,
fO ath St. Phones Marshall .".oo, A ttl.11.
PORTLAND & COOS BAY a. S. LIMC
Steamer State of Washington
Leave Taylor-st. dock dally ascept bun day.
11 P. M- for Tba Dtllei and war landings,
carrying freight and p - t era. Returning,
leaves Tba Dalles daily. 12 noon, except
Mon day. Tel. Main U. Fare $1 bertha .Wq.